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

|                                                                                         |
|-----------------------------------------------------------------------------------------|
|                                                                                         |  |
| Maryland                                                                                | 52-2439556 |
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
| 9 West 57th Street37th FloorNew York, New York                                     | 10019 |
| (Address of principal executive offices)                            | (Zip Code) |

|                                   |
|-----------------------------------|
|                                   |  |  |  |  |  |  |  |
| Large accelerated filer | x | Accelerated filer |  ̈ | Non-accelerated filer |  ̈ | Smaller reporting company |  ̈ |

|                       |
|-----------------------|
|                       |  |  |
| Class of Common Stock |   | Outstanding at November 2, 2017 |
| $0.001 par value      |   | 218,442,554 |

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

----

|              |
|--------------|
|              |  |  |
|         |   | Page |
|         | PART I. FINANCIAL INFORMATION |   |
|         |   |   |
| Item 1. | Financial Statements | 1 |
|         |   |   |
|         | Statements of Assets and LiabilitiesSeptember 30, 2017 and March 31, 2017 | 1 |
|         |   |   |
|         | Statements of OperationsThree and six months ended September 30, 2017 and September 30, 2016 | 2 |
|         |   |   |
|         | Statements of Changes in Net AssetsSix months ended September 30, 2017 and year ended March 31, 2017 | 3 |
|         |   |   |
|         | Statements of Cash FlowsSix months ended September 30, 2017 and September 30, 2016 | 4 |
|         |   |   |
|         | Schedule of InvestmentsSeptember 30, 2017 | 5 |
|         |   |   |
|         | Schedule of InvestmentsMarch 31, 2017 | 21 |
|         |   |   |
|         | Notes to Financial Statements | 36 |
|         |   |   |
|         | Report of Independent Registered Public Accounting Firm | 63 |
|         |   |   |
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 64 |
|         |   |   |
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk | 77 |
|         |   |   |
| Item 4. | Controls and Procedures | 78 |
|         |   |   |
|         | PART II. OTHER INFORMATION |   |
|         |   |   |
| Item 1. | Legal Proceedings | 79 |
|         |   |   |
| Item 1A.     | Risk Factors | 79 |
|         |   |   |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 79 |
|         |   |   |
| Item 3. | Defaults Upon Senior Securities | 81 |
|         |   |   |
| Item 4.      | Mine Safety Disclosures | 81 |
|         |   |   |
| Item 5. | Other Information | 81 |
|         |   |   |
| Item 6. | Exhibits | 81 |
|         |   |   |
|         | Signatures | 82 |

----

| APOLLO INVESTMENT CORPORATIONSTATEMENTS OF ASSETS AND LIABILITIES(In thousands, except share and per share data)                        |
|-----------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                         |  |  |  |  |  |  |  |
|                                                                                                                                         | September 30, 2017 |   | March 31, 2017 |
|                                                                                                                                         | (Unaudited) |   |  |
| Assets                                                                                                                                  |  |   |  |
| Investments and option contracts at fair value:                                                                                         |  |  |   |  |  |
| Non-controlled/non-affiliated investments (cost — $1,448,348 and $1,510,980, respectively)                                        | $ | 1,441,064 |  |   | $ | 1,402,409 |  |
| Non-controlled/affiliated investments (cost — $246,083 and $417,471, respectively)                                                | 224,881 |  |   | 239,050 |  |
| Controlled investments (cost — $701,852 and $676,972, respectively)                                                               | 694,345 |  |   | 675,249 |  |
| Option contracts (cost — $5,057 and $0, respectively)                                                                             | 4,020 |  |   | — |  |
| Cash and cash equivalents                                                                                                               | 31,179 |  |   | 9,783 |  |
| Foreign currencies (cost — $1,961 and $1,494, respectively)                                                                       | 1,966 |  |   | 1,497 |  |
| Collateral on option contracts                                                                                                          | 6,070 |  |   | — |  |
| Receivable for investments sold                                                                                                         | 8,129 |  |   | 40,226 |  |
| Interest receivable                                                                                                                     | 18,237 |  |   | 17,072 |  |
| Dividends receivable                                                                                                                    | 3,143 |  |   | 6,489 |  |
| Deferred financing costs                                                                                                                | 15,791 |  |   | 17,632 |  |
| Prepaid expenses and other assets                                                                                                       | 581 |  |   | 713 |  |
| Total Assets                                                                                                                            | $ | 2,449,406 |  |   | $ | 2,410,120 |  |
|                                                                                                                                         |  |   |  |
| Liabilities                                                                                                                             |  |   |  |
| Debt                                                                                                                                    | $ | 864,906 |  |   | $ | 848,449 |  |
| Option contracts at fair value (proceeds — $5,041 and $0, respectively)                                                           | 5,877 |  |   | — |  |
| Payable for investments purchased                                                                                                       | 40,878 |  |   | 13,970 |  |
| Distributions payable                                                                                                                   | 32,855 |  |   | 32,954 |  |
| Management and performance-based incentive fees payable                                                                                 | 18,370 |  |   | 16,306 |  |
| Interest payable                                                                                                                        | 7,280 |  |   | 7,319 |  |
| Accrued administrative services expense                                                                                                 | 1,785 |  |   | 2,250 |  |
| Other liabilities and accrued expenses                                                                                                  | 4,855 |  |   | 7,075 |  |
| Total Liabilities                                                                                                                       | $ | 976,806 |  |   | $ | 928,323 |  |
| Commitments and contingencies (Note 10)                                                                                                 |  |  |   |  |  |
| Net Assets                                                                                                                              | $ | 1,472,600 |  |   | $ | 1,481,797 |  |
|                                                                                                                                         |  |   |  |
| Net Assets                                                                                                                              |  |   |  |
| Common stock, $0.001 par value (400,000,000 shares authorized; 219,034,354 and 219,694,654 shares issued and outstanding, respectively) | $ | 219 |  |   | $ | 220 |  |
| Paid-in capital in excess of par                                                                                                        | 2,920,820 |  |   | 2,924,775 |  |
| Accumulated underdistributed net investment income                                                                                      | 89,802 |  |   | 88,134 |  |
| Accumulated net realized loss                                                                                                           | (1,514,999 | ) |   | (1,277,625 | ) |
| Net unrealized loss                                                                                                                     | (23,242 | ) |   | (253,707 | ) |
| Net Assets                                                                                                                              | $ | 1,472,600 |  |   | $ | 1,481,797 |  |
|                                                                                                                                         |  |  |   |  |  |
| Net Asset Value Per Share                                                                                                               | $ | 6.72 |  |   | $ | 6.74 |  |

----

Table of Contents

| APOLLO INVESTMENT CORPORATIONSTATEMENTS OF OPERATIONS (Unaudited)(In thousands, except per share data) |
|--------------------------------------------------------------------------------------------------------|
|                                                                                                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                                        | Three Months Ended September 30, |   | Six Months Ended September 30, |
|                                                                                                        | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Investment Income                                                                                      |  |   |  |   |  |   |  |
| Non-controlled/non-affiliated investments:                                                             |  |   |  |   |  |   |  |
| Interest income (excluding Payment-in-kind interest income)                                            | $ | 39,319 |  |   | $ | 41,728 |  |   | $ | 78,271 |  |   | $ | 88,779 |  |
| Dividend income                                                                                        | — |  |   | 1,069 |  |   | — |  |   | 2,173 |  |
| Payment-in-kind interest income                                                                        | 2,118 |  |   | 678 |  |   | 4,174 |  |   | 1,971 |  |
| Other income                                                                                           | 2,647 |  |   | 349 |  |   | 3,777 |  |   | 2,047 |  |
| Non-controlled/affiliated investments:                                                                 |  |   |  |   |  |   |  |
| Interest income (excluding Payment-in-kind interest income)                                            | 1 |  |   | 247 |  |   | 115 |  |   | 461 |  |
| Dividend income                                                                                        | 981 |  |   | 4,656 |  |   | 2,068 |  |   | 7,703 |  |
| Payment-in-kind interest income                                                                        | 2,501 |  |   | 122 |  |   | 4,938 |  |   | 169 |  |
| Other income                                                                                           | — |  |   | — |  |   | (306 | ) |   | 70 |  |
| Controlled investments:                                                                                |  |   |  |   |  |   |  |
| Interest income (excluding Payment-in-kind interest income)                                            | 14,241 |  |   | 12,247 |  |   | 29,315 |  |   | 24,677 |  |
| Dividend income                                                                                        | 3,303 |  |   | 2,750 |  |   | 8,153 |  |   | 7,450 |  |
| Payment-in-kind interest income                                                                        | 1,351 |  |   | 5,180 |  |   | 2,668 |  |   | 9,995 |  |
| Total Investment Income                                                                                | $ | 66,462 |  |   | $ | 69,026 |  |   | $ | 133,173 |  |   | $ | 145,495 |  |
| Expenses                                                                                               |   |   |   |   |   |   |   |
| Management fees                                                                                        | $ | 12,290 |  |   | $ | 13,302 |  |   | $ | 24,415 |  |   | $ | 27,700 |  |
| Performance-based incentive fees                                                                       | 8,037 |  |   | 1,943 |  |   | 15,949 |  |   | 10,393 |  |
| Interest and other debt expenses                                                                       | 13,832 |  |   | 14,438 |  |   | 28,047 |  |   | 31,231 |  |
| Administrative services expense                                                                        | 1,692 |  |   | 2,642 |  |   | 3,368 |  |   | 4,168 |  |
| Other general and administrative expenses                                                              | 1,620 |  |   | 2,550 |  |   | 4,176 |  |   | 7,589 |  |
| Total expenses                                                                                         | 37,471 |  |   | 34,875 |  |   | 75,955 |  |   | 81,081 |  |
| Management and performance-based incentive fees waived                                                 | (5,081 | ) |   | (5,302 | ) |   | (10,091 | ) |   | (11,019 | ) |
| Expense reimbursements                                                                                 | (85 | ) |   | (84 | ) |   | (168 | ) |   | (168 | ) |
| Net Expenses                                                                                           | $ | 32,305 |  |   | $ | 29,489 |  |   | $ | 65,696 |  |   | $ | 69,894 |  |
| Net Investment Income                                                                                  | $ | 34,157 |  |   | $ | 39,537 |  |   | $ | 67,477 |  |   | $ | 75,601 |  |
| Net Realized and Change in Unrealized Gains (Losses)                                                   |  |   |  |   |  |   |  |
| Net realized gains (losses):                                                                           |  |   |  |   |  |   |  |
| Non-controlled/non-affiliated investments                                                              | $ | (7,309 | ) |   | $ | 17,348 |  |   | $ | (97,148 | ) |   | $ | (40,127 | ) |
| Non-controlled/affiliated investments                                                                  | — |  |   | (21,257 | ) |   | (146,840 | ) |   | 44,574 |  |
| Controlled investments                                                                                 | — |  |   | — |  |   | — |  |   | (191 | ) |
| Option contracts                                                                                       | (5 | ) |   | — |  |   | (5 | ) |   | — |  |
| Foreign currency transactions                                                                          | 3,695 |  |   | 905 |  |   | 6,619 |  |   | 1,265 |  |
| Net realized gains (losses)                                                                            | (3,619 | ) |   | (3,004 | ) |   | (237,374 | ) |   | 5,521 |  |
| Net change in unrealized losses:                                                                       |  |   |  |   |  |   |  |
| Non-controlled/non-affiliated investments                                                              | 10,049 |  |   | 46,305 |  |   | 101,287 |  |   | 65,026 |  |
| Non-controlled/affiliated investments                                                                  | 1,489 |  |   | (36,007 | ) |   | 157,219 |  |   | (129,794 | ) |
| Controlled investments                                                                                 | 1,284 |  |   | (10,284 | ) |   | (5,784 | ) |   | (34,583 | ) |
| Option contracts                                                                                       | (1,873 | ) |   | — |  |   | (1,873 | ) |   | — |  |
| Foreign currency translations                                                                          | (9,700 | ) |   | 4,567 |  |   | (20,384 | ) |   | 17,257 |  |
| Net change in unrealized losses                                                                        | 1,249 |  |   | 4,581 |  |   | 230,465 |  |   | (82,094 | ) |
| Net Realized and Change in Unrealized Gains (Losses)                                                   | $ | (2,370 | ) |   | $ | 1,577 |  |   | $ | (6,909 | ) |   | $ | (76,573 | ) |
| Net Increase (Decrease) in Net Assets Resulting from Operations                                        | $ | 31,787 |  |   | $ | 41,114 |  |   | $ | 60,568 |  |   | $ | (972 | ) |
| Earnings (Loss) Per Share                                                                              | $ | 0.14 |  |   | $ | 0.18 |  |   | $ | 0.28 |  |   | $ | 0.00 |  |

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Table of Contents

| APOLLO INVESTMENT CORPORATIONSTATEMENTS OF CHANGES IN NET ASSETS(In thousands, except share data) |
|---------------------------------------------------------------------------------------------------|
|                                                                                                   |  |  |  |  |  |  |  |
|                                                                                              | Six Months Ended September 30, 2017 |   | Year Ended  March 31, 2017 |
|                                                                                              | (Unaudited) |   |   |
| Operations                                                                                        |   |   |   |
| Net investment income                                                                             | $ | 67,477 |  |   | $ | 149,243 |  |
| Net realized losses                                                                               | (237,374 | ) |   | (41,823 | ) |
| Net change in unrealized losses                                                                   | 230,465 |  |   | (89,050 | ) |
| Net Increase in Net Assets Resulting from Operations                                              | $ | 60,568 |  |   | $ | 18,370 |  |
|                                                                                              |   |   |   |
| Distributions to Stockholders                                                                     |   |   |   |
| Distribution of net investment income                                                             | $ | (65,809 | ) |   | $ | (76,950 | ) |
| Distribution of return of capital                                                                 | — |  |   | (67,286 | ) |
| Net Decrease in Net Assets Resulting from Distributions to Stockholders                           | $ | (65,809 | ) |   | $ | (144,236 | ) |
|                                                                                              |   |   |   |
| Capital Share Transactions                                                                        |   |   |   |
| Repurchase of common stock                                                                        | (3,956 | ) |   | (37,918 | ) |
| Net Decrease in Net Assets Resulting from Capital Share Transactions                              | $ | (3,956 | ) |   | $ | (37,918 | ) |
|                                                                                              |   |   |   |
| Net Assets                                                                                        |   |   |   |
| Net decrease in net assets during the period                                                      | $ | (9,197 | ) |   | $ | (163,784 | ) |
| Net assets at beginning of period                                                                 | 1,481,797 |  |   | 1,645,581 |  |
| Net Assets at End of Period                                                                       | $ | 1,472,600 |  |   | $ | 1,481,797 |  |
|                                                                                              |   |   |   |
| Capital Share Activity                                                                            |   |   |   |
| Shares repurchased during the period                                                              | (660,300 | ) |   | (6,461,842 | ) |
| Shares issued and outstanding at beginning of period                                              | 219,694,654 |  |   | 226,156,496 |  |
| Shares Issued and Outstanding at End of Period                                                    | 219,034,354 |  |   | 219,694,654 |  |

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Table of Contents

| APOLLO INVESTMENT CORPORATIONSTATEMENTS OF CASH FLOWS (Unaudited)(In thousands)                                 |
|-----------------------------------------------------------------------------------------------------------------|
|                                                                                                                 |  |  |  |  |  |  |  |
|                                                                                                            | Six Months Ended September 30, |
|                                                                                                            | 2017 |   | 2016 |
| Operating Activities                                                                                            |   |   |   |
| Net increase (decrease) in net assets resulting from operations                                                 | $ | 60,568 |  |   | $ | (972 | ) |
| Net realized (gains) losses                                                                                     | 237,374 |  |   | (5,521 | ) |
| Net change in unrealized (gains) losses                                                                         | (230,465 | ) |   | 82,094 |  |
| Net amortization of premiums and accretion of discounts on investments                                          | (3,563 | ) |   | (2,620 | ) |
| Accretion of discount on notes                                                                                  | 297 |  |   | 298 |  |
| Amortization of deferred financing costs                                                                        | 2,418 |  |   | 2,985 |  |
| Increase from foreign currency transactions                                                                     | 6,619 |  |   | 1,265 |  |
| Payment-in-kind interest and dividends capitalized                                                              | (10,501 | ) |   | (21,147 | ) |
| Changes in operating assets and liabilities:                                                                    |   |   |   |
| Purchases of investments                                                                                        | (580,567 | ) |   | (251,591 | ) |
| Proceeds from sales and repayments of investments                                                               | 618,789 |  |   | 627,113 |  |
| Purchases of option contracts                                                                                   | (5,062 | ) |   | — |  |
| Proceeds from option contracts                                                                                  | 5,041 |  |   | — |  |
| Decrease (increase) in interest receivable                                                                      | (1,063 | ) |   | 14,540 |  |
| Decrease in dividends receivable                                                                                | 3,346 |  |   | 2,517 |  |
| Decrease in prepaid expenses and other assets                                                                   | 132 |  |   | 8,472 |  |
| Increase (decrease) in management and performance-based incentive fees payable                                  | 2,064 |  |   | (8,774 | ) |
| Decrease in interest payable                                                                                    | (39 | ) |   | (410 | ) |
| Decrease in accrued administrative services expense                                                             | (465 | ) |   | (603 | ) |
| Increase (decrease) in other liabilities and accrued expenses                                                   | (2,220 | ) |   | 405 |  |
| Net Cash Provided by Operating Activities                                                                       | $ | 102,703 |  |   | $ | 448,051 |  |
| Financing Activities                                                                                            |   |   |   |
| Issuances of debt                                                                                               | $ | 622,483 |  |   | $ | 506,747 |  |
| Payments of debt                                                                                                | (627,219 | ) |   | (788,487 | ) |
| Financing costs paid and deferred                                                                               | (170 | ) |   | (485 | ) |
| Repurchase of common stock                                                                                      | (3,956 | ) |   | (24,343 | ) |
| Distributions paid                                                                                              | (65,908 | ) |   | (90,245 | ) |
| Net Cash Used in Financing Activities                                                                           | $ | (74,770 | ) |   | $ | (396,813 | ) |
|                                                                                                            |   |   |   |
| Cash, Cash Equivalents, Foreign Currencies and Collateral on Option Contracts                                   |   |   |   |
| Net increase in cash, cash equivalents, foreign currencies and collateral on option contracts during the period | $ | 27,933 |  |   | $ | 51,238 |  |
| Effect of foreign exchange rate changes                                                                         | 2 |  |   | (31 | ) |
| Cash, cash equivalents, foreign currencies and collateral on option contracts at beginning of period            | 11,280 |  |   | 18,905 |  |
| Cash, Cash Equivalents, Foreign Currencies and Collateral on Option Contracts at the End of Period              | $ | 39,215 |  |   | $ | 70,112 |  |
|                                                                                                            |   |   |   |
| Supplemental Disclosure of Cash Flow Information                                                                |   |   |   |
| Cash interest paid                                                                                              | $ | 25,326 |  |   | $ | 27,120 |  |
|                                                                                                            |   |   |   |
| Non-Cash Activity                                                                                               |   |   |   |
| Payment-in-kind income                                                                                          | $ | 11,780 |  |   | $ | 12,544 |  |

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Table of Contents

|                                                                                |
|--------------------------------------------------------------------------------|
|                                                                                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investment                                                                     |   | Industry |   | InterestRate (20) |   | MaturityDate |   |  Par (12) |   | Cost |   | FairValue (1) |   | ASC 820 Level (32) |
| Non-Controlled/Non-Affiliated Investments                                      |   |   |   |   |   |   |   |   |   |   |   |   |
| Corporate Debt                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Secured Debt                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| First Lien Secured Debt                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| First Lien Secured Debt (excluding Revolvers and Letters of Credit)            |   |   |   |   |   |   |   |   |   |   |
| American Media, Inc. (16)                                                      |   | Advertising, Printing & Publishing |   | 10.24% (1M L+900, 1.00% Floor) |   | 8/24/20 |   | $ | 14,667 |  |   | $ | 14,324 |  |   | $ | 15,033 |  |   | Level 3 |
| Simplifi Holdings, Inc. (9)(16)                                                |   | Advertising, Printing & Publishing |   | 7.74% (1M L+650, 1.00% Floor) |   | 9/28/22 |   | 12,200 |  |   | 11,835 |  |   | 11,834 |  |   | Level 3 |
| Total Advertising, Printing & Publishing— 1.8%(10)                   |   |   |   |   |   | $ | 26,159 |  |   | $ | 26,867 |  |   |   |
| Dodge Data & Analytics LLC                                                 |   | Business Services |   | 10.13% (3M L+875, 1.00% Floor) |   | 10/31/19 |   | $ | 50,478 |  |   | $ | 50,055 |  |   | $ | 49,090 |  |   | Level 3 |
| PSI Services, LLC (9)(16)                                                      |   | Business Services |   | 6.24% (1M L+500, 1.00% Floor) |   | 1/20/23 |   | 4,142 |  |   | 4,050 |  |   | 4,070 |  |   | Level 3 |
| RA Outdoors, LLC (9)(16)                                                       |   | Business Services |   | 5.99% (1M L+475, 1.00% Floor) |   | 9/11/24 |   | 8,800 |  |   | 8,625 |  |   | 8,624 |  |   | Level 3 |
| Total Business Services— 4.2%(10)                                        |   |   |   |   |   | $ | 62,730 |  |   | $ | 61,784 |  |   |   |
| Maxus Capital Carbon SPE I, LLC                                                |   | Chemicals, Plastics & Rubber |   | 5.22% PIK |   | 12/31/18 |   | $ | 59,305 |  |   | $ | 59,305 |  |   | $ | 49,544 |  |   | Level 3 |
| Total Chemicals, Plastics & Rubber— 3.4%(10)                         |   |   |   |   |   | $ | 59,305 |  |   | $ | 49,544 |  |   |   |
| KLO / 9357-5991 Quebec Inc                                                     |   | Consumer Goods – Durable |   | 9.00% (1M L+775, 0.75% Floor) |   | 4/7/22 |   | $ | 9,382 |  |   | $ | 9,276 |  |   | $ | 9,273 |  |   | Level 3 |
| KLO Acquisition LLC                                                            |   | Consumer Goods – Durable |   | 9.00% (1M L+775, 0.75% Floor) |   | 4/7/22 |   | 5,466 |  |   | 5,404 |  |   | 5,403 |  |   | Level 3 |
| Total Consumer Goods – Durable— 1.0%(10)                           |   |   |   |   |   | $ | 14,680 |  |   | $ | 14,676 |  |   |   |
| Westinghouse Electric Co LLC (9)                                               |   | Energy – Electricity |   | 7.50% (1M L+625, 1.25% Floor) |   | 3/31/18 |   | $ | 40,000 |  |   | $ | 39,449 |  |   | $ | 40,000 |  |   | Level 3 |
| Total Energy – Electricity— 2.7%(10)                               |   |   |   |   |   | $ | 39,449 |  |   | $ | 40,000 |  |   |   |
| Bumble Bee Holdings, Inc.                                                      |   | Food & Grocery |   | 9.32% (3M L+800, 1.00% Floor) |   | 8/15/23 |   | $ | 15,585 |  |   | $ | 15,278 |  |   | $ | 15,273 |  |   | Level 3 |
| Connors Bros Clover Leaf Seafoods Company                                      |   | Food & Grocery |   | 9.32% (3M L+800, 1.00% Floor) |   | 8/15/23 |   | 4,415 |  |   | 4,328 |  |   | 4,327 |  |   | Level 3 |
| Total Food & Grocery— 1.3%(10)                                       |   |   |   |   |   | $ | 19,606 |  |   | $ | 19,600 |  |   |   |
| Altasciences / 9360-1367 Quebec Inc. (9)(16)(17)                               |   | Healthcare & Pharmaceuticals |   | 7.62% (3M L+625, 1.00% Floor) |   | 6/9/23 |   | C$ | 2,430 |  |   | $ | 1,771 |  |   | $ | 1,900 |  |   | Level 3 |
| Altasciences / 9360-1367 Quebec Inc. (9)(16)(17)                               |   | Healthcare & Pharmaceuticals |   | 7.58% (3M L+625, 1.00% Floor) |   | 6/9/23 |   | 2,913 |  |   | 2,851 |  |   | 2,848 |  |   | Level 3 |
| Altasciences US Acquistion, Inc. (9)(16)                                       |   | Healthcare & Pharmaceuticals |   | 7.58% (3M L+625, 1.00% Floor) |   | 6/9/23 |   | 5,261 |  |   | 5,149 |  |   | 5,143 |  |   | Level 3 |
| Altasciences US Acquistion, Inc., Unfunded Delayed Draw (8)(9)(16)(21)(23)(28) |   | Healthcare & Pharmaceuticals |   | 0.50% Unfunded |   | 6/9/23 |   | 2,851 |  |   | (34 | ) |   | (64 | ) |   | Level 3 |
| Aptevo Therapeutics Inc. (9)(16)(23)                                           |   | Healthcare & Pharmaceuticals |   | 8.84% (1M L+760) |   | 2/1/21 |   | 8,571 |  |   | 8,664 |  |   | 8,508 |  |   | Level 3 |
| Aptevo Therapeutics Inc., Unfunded Delayed Draw (8)(9)(16)(21)(23)             |   | Healthcare & Pharmaceuticals |   | 0.00% Unfunded |   | 2/1/21 |   | 6,429 |  |   | (24 | ) |   | (48 | ) |   | Level 3 |
| Invuity, Inc. (9)(16)                                                          |   | Healthcare & Pharmaceuticals |   | 8.00% (1M L+650, 1.50% Floor) |   | 3/1/22 |   | 10,000 |  |   | 9,914 |  |   | 9,808 |  |   | Level 3 |
| Oxford Immunotec, Inc. (9)(16)(17)                                             |   | Healthcare & Pharmaceuticals |   | 8.84% (1M L+760) |   | 10/1/21 |   | 9,750 |  |   | 9,824 |  |   | 9,859 |  |   | Level 3 |
| PTC Therapeutics, Inc (9)(16)(17)                                              |   | Healthcare & Pharmaceuticals |   | 7.39% (1M L+615, 1.00% Floor) |   | 5/1/21 |   | 12,667 |  |   | 12,610 |  |   | 12,667 |  |   | Level 3 |
| PTC Therapeutics, Inc, Unfunded Delayed Draw (9)(16)(17)(21)(23)               |   | Healthcare & Pharmaceuticals |   | 0.00% Unfunded |   | 5/1/21 |   | 6,333 |  |   | — |  |   | — |  |   | Level 3 |

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Table of Contents

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|                                                                                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investment                                                                                |   | Industry |   | InterestRate (20) |   | MaturityDate |   |  Par (12) |   | Cost |   | FairValue (1) |   | ASC 820 Level (32) |
| RiteDose Holdings I, Inc. (9)(16)                                                         |   | Healthcare & Pharmaceuticals |   | 7.82% (1M L + 650, 1.00% Floor) |   | 9/13/23 |   | 15,000 |  |   | 14,516 |  |   | 14,513 |  |   | Level 3 |
| Teladoc, Inc. (16)(17)                                                                    |   | Healthcare & Pharmaceuticals |   | 8.49% (1M L + 725, 1.00% Floor) |   | 7/14/22 |   | 20,000 |  |   | 19,805 |  |   | 20,400 |  |   | Level 3 |
| Total Healthcare & Pharmaceuticals— 5.8%(10)                                    |   |   |   |   |   | $ | 85,046 |  |   | $ | 85,534 |  |   |   |
| ChyronHego Corporation (18)                                                               |   | High Tech Industries |   | 7.43% (3M L+643, 1.00% Floor) |   | 3/9/20 |   | $ | 35,743 |  |   | $ | 35,349 |  |   | $ | 34,670 |  |   | Level 3 |
| LabVantage Solutions Inc.                                                                 |   | High Tech Industries |   | 9.24% (1M L+800, 1.00% Floor) |   | 12/29/20 |   | 14,063 |  |   | 13,763 |  |   | 13,922 |  |   | Level 3 |
| LabVantage Solutions Limited (16)(17)                                                     |   | High Tech Industries |   | 9.00% (3M E+800, 1.00% Floor) |   | 12/29/20 |   | € | 12,883 |  |   | 13,558 |  |   | 15,077 |  |   | Level 3 |
| Nextech Systems, LLC (18)                                                                 |   | High Tech Industries |   | 8.40% (1M L+725, 1.00% Floor) |   | 6/22/21 |   | 21,435 |  |   | 21,034 |  |   | 21,006 |  |   | Level 3 |
| Telestream Holdings Corporation (18)                                                      |   | High Tech Industries |   | 7.61% (3M L +6.45%, 1.00% Floor) |   | 3/24/22 |   | 36,933 |  |   | 36,595 |  |   | 36,194 |  |   | Level 3 |
| Total High Tech Industries— 8.2%(10)                                                |   |   |   |   |   | $ | 120,299 |  |   | $ | 120,869 |  |   |   |
| GFRC Holdings LLC                                                                         |   | Hotel, Gaming, Leisure, Restaurants |   | 9.50% (1M L+800 Cash (L+800 PIK Toggle), 1.50% Floor) |   | 2/1/22 |   | $ | 2,500 |  |   | $ | 2,500 |  |   | $ | 2,500 |  |   | Level 3 |
| Total Hotel, Gaming, Leisure, Restaurants— 0.2%(10)                                 |   |   |   |   |   | $ | 2,500 |  |   | $ | 2,500 |  |   |   |
| Magnetation, LLC (14)                                                                     |   | Metals & Mining |   | 9.15% (3M L+800 Cash (PIK Toggle) |   | 12/31/19 |   | $ | 1,898 |  |   | $ | 1,819 |  |   | $ | 654 |  |   | Level 3 |
| Total Metals & Mining—0.0%(10)                                                  |   |   |   |   |   | $ | 1,819 |  |   | $ | 654 |  |   |   |
| UniTek Global Services Inc. (16)                                                          |   | Telecommunications |   | 9.84% (3M L+750 Cash plus 1.00% PIK, 1.00% Floor) |   | 1/13/19 |   | $ | 1,941 |  |   | $ | 1,941 |  |   | $ | 1,941 |  |   | Level 3 |
| UniTek Global Services Inc. (16)                                                          |   | Telecommunications |   | 9.84% (3M L+850, 1.00% Floor) |   | 1/13/19 |   | 32,367 |  |   | 32,367 |  |   | 33,014 |  |   | Level 3 |
| Total Telecommunications— 2.4%(10)                                                  |   |   |   |   |   | $ | 34,308 |  |   | $ | 34,955 |  |   |   |
| Sunedison, Inc.                                                                           |   | Utilities – Electric |   | 8.74% (1M L+750, 1.00% Floor) |   | 5/2/18 |   | $ | 13,698 |  |   | $ | 13,648 |  |   | $ | 13,758 |  |   | Level 2 |
| Total Utilities – Electric— 1.0%(10)                                          |   |   |   |   |   | $ | 13,648 |  |   | $ | 13,758 |  |   |   |
| Total First Lien Secured Debt (excluding Revolvers and Letters of Credit)—32.0%(10) |   |   |   |   |   | $ | 479,549 |  |   | $ | 470,741 |  |   |   |
| Revolvers and Letters of Credit                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| American Media, Inc., Letter of Credit (16)(23)                                           |   | Advertising, Printing & Publishing |   |  L+900 |   | 8/24/20 |   | $ | 154 |  |   | $ | — |  |   | $ | — |  |   | Level 3 |
| American Media, Inc., Revolver (16)(23)                                                   |   | Advertising, Printing & Publishing |   | 10.34% (3M L+900, 1.00% Floor) |   | 8/24/20 |   | 1,244 |  |   | 1,245 |  |   | 1,275 |  |   | Level 3 |
| American Media, Inc., Revolver (16)(23)                                                   |   | Advertising, Printing & Publishing |   | 12.25% (P+800) |   | 8/24/20 |   | 237 |  |   | 237 |  |   | 243 |  |   | Level 3 |
| American Media, Inc., Unfunded Revolver (16)(21)(23)                                      |   | Advertising, Printing & Publishing |   | 0.50% Unfunded |   | 8/24/20 |   | 143 |  |   | (39 | ) |   | 0 |  |   | Level 3 |
| Simplifi Holdings, Inc., Unfunded Revolver (8)(9)(16)(21)(23)                             |   | Advertising, Printing & Publishing |   | 0.50% Unfunded |   | 9/28/22 |   | 2,400 |  |   | (72 | ) |   | (72 | ) |   | Level 3 |
| Total Advertising, Printing & Publishing— 0.1%(10)                              |   |   |   |   |   | $ | 1,371 |  |   | $ | 1,446 |  |   |   |
| Erickson Inc, Letter of Credit (8)(9)(16)(23)                                             |   | Aerospace & Defense |   | 7.50% |   | 9/30/18 |   | $ | 103 |  |   | $ | — |  |   | $ | (2 | ) |   | Level 3 |
| Erickson Inc, Letter of Credit (8)(9)(16)(23)                                             |   | Aerospace & Defense |   | 7.50% |   | 12/10/18 |   | 37 |  |   | — |  |   | (1 | ) |   | Level 3 |
| Erickson Inc, Letter of Credit (8)(9)(16)(23)                                             |   | Aerospace & Defense |   | 7.50% |   | 4/1/18 |   | 277 |  |   | — |  |   | (4 | ) |   | Level 3 |
| Erickson Inc, Letter of Credit (8)(9)(16)(23)                                             |   | Aerospace & Defense |   | 7.50% |   | 10/31/17 |   | 73 |  |   | — |  |   | (1 | ) |   | Level 3 |

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Table of Contents

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|                                                                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investment                                                                           |   | Industry |   | InterestRate (20) |   | MaturityDate |   |  Par (12) |   | Cost |   | FairValue (1) |   | ASC 820 Level (32) |
| Erickson Inc, Letter of Credit (8)(9)(16)(23)                                        |   | Aerospace & Defense |   | 7.50% |   | 11/28/17 |   | 670 |  |   | — |  |   | (10 | ) |   | Level 3 |
| Erickson Inc, Letter of Credit (8)(9)(16)(23)                                        |   | Aerospace & Defense |   | 7.50% |   | 6/25/18 |   | 3 |  |   | — |  |   | — |  |   | Level 3 |
| Erickson Inc, Letter of Credit (8)(9)(16)(23)                                        |   | Aerospace & Defense |   | 7.50% |   | 12/31/17 |   | 180 |  |   | — |  |   | (3 | ) |   | Level 3 |
| Erickson Inc, Revolver (9)(16)(23)                                                   |   | Aerospace & Defense |   | 8.84% (3M L+750) |   | 4/28/22 |   | 26,062 |  |   | 26,062 |  |   | 25,672 |  |   | Level 3 |
| Erickson Inc, Unfunded Revolver (8)(9)(16)(21)(23)                                   |   | Aerospace & Defense |   | 0.50% Unfunded |   | 4/28/22 |   | 17,595 |  |   | (514 | ) |   | (264 | ) |   | Level 3 |
| Total Aerospace & Defense— 1.7%(10)                                        |   |   |   |   |   | $ | 25,548 |  |   | $ | 25,387 |  |   |   |
| PSI Services, LLC, Revolver (9)(16)(23)                                              |   | Business Services |   | 6.24% (1M L+500, 1.00% Floor) |   | 1/20/22 |   | $ | 278 |  |   | $ | 278 |  |   | $ | 273 |  |   | Level 3 |
| PSI Services, LLC, Unfunded Revolver (8)(9)(16)(21)(23)                              |   | Business Services |   | 0.50% Unfunded |   | 1/20/22 |   | 119 |  |   | (9 | ) |   | (1 | ) |   | Level 3 |
| PSI Services, LLC, Unfunded Revolver (9)(16)(21)(23)                                 |   | Business Services |   | 0.50% Unfunded |   | 1/20/22 |   | £ | 47 |  |   | — |  |   | — |  |   | Level 3 |
| RA Outdoors, LLC, Unfunded Revolver (8)(9)(16)(21)(23)                               |   | Business Services |   |  0.50% Unfunded |   | 9/9/22 |   | 1,200 |  |   | (24 | ) |   | (24 | ) |   | Level 3 |
| Total Business Services— 0.0%(10)                                              |   |   |   |   |   | $ | 245 |  |   | $ | 248 |  |   |   |
| Avantor Performance Materials Holdings, LLC, Letter of Credit (8)(16)(23)            |   | Chemicals, Plastics & Rubber |   | 4.00% |   | 3/10/22 |   | $ | 122 |  |   | $ | — |  |   | $ | (1 | ) |   | Level 3 |
| Avantor Performance Materials Holdings, LLC, Unfunded Revolver (8)(16)(21)(23)       |   | Chemicals, Plastics & Rubber |   | 0.50% Unfunded |   | 3/10/22 |   | 4,878 |  |   | (555 | ) |   | (32 | ) |   | Level 3 |
| Total Chemicals, Plastics & Rubber— 0.0%(10)                               |   |   |   |   |   | $ | (555 | ) |   | $ | (33 | ) |   |   |
| TricorBraun Holdings, Inc., Revolver (23)                                            |   | Containers, Packaging & Glass |   | 6.50% (P+225) |   | 11/30/21 |   | $ | 323 |  |   | $ | 323 |  |   | $ | 323 |  |   | Level 3 |
| TricorBraun Holdings, Inc., Unfunded Revolver (21)(23)                               |   | Containers, Packaging & Glass |   | 0.50% Unfunded |   | 11/30/21 |   | 5,303 |  |   | (422 | ) |   | — |  |   | Level 3 |
| Total Containers, Packaging & Glass— 0.0%(10)                              |   |   |   |   |   | $ | (99 | ) |   | $ | 323 |  |   |   |
| Purchasing Power, LLC, Revolver (9)(16)(23)                                          |   | Diversified Investment Vehicles, Banking, Finance, Real Estate |   | 9.24% (1M L + 800, 1.00% Floor) |   | 7/10/19 |   | $ | 2,021 |  |   | $ | 2,021 |  |   | $ | 2,004 |  |   | Level 3 |
| Purchasing Power, LLC, Unfunded Revolver (8)(9)(16)(21)(23)                          |   | Diversified Investment Vehicles, Banking, Finance, Real Estate |   | 1.50% Unfunded |   | 7/10/19 |   | 6,329 |  |   | (74 | ) |   | (53 | ) |   | Level 3 |
| Ten-X, LLC, Unfunded Revolver (8)(21)(23)                                            |   | Diversified Investment Vehicles, Banking, Finance, Real Estate |   | 0.50% Unfunded |   | 9/29/22 |   | 4,680 |  |   | (421 | ) |   | (421 | ) |   | Level 3 |
| Total Diversified Investment Vehicles, Banking, Finance, Real Estate— 0.1%(10) |   |   |   |   |   | $ | 1,526 |  |   | $ | 1,530 |  |   |   |
| Altasciences US Acquistion, Inc., Unfunded Revolver (8)(9)(16)(21)(23)(28)           |   | Healthcare & Pharmaceuticals |   | 0.25% Unfunded |   | 6/9/23 |   | $ | 1,426 |  |   | $ | (30 | ) |   | $ | (32 | ) |   | Level 3 |
| Invuity, Inc., Revolver (9)(16)(23)                                                  |   | Healthcare & Pharmaceuticals |   | 4.75% (1M L+325, 1.00% Floor) |   | 3/1/22 |   | 1,024 |  |   | 1,024 |  |   | 1,018 |  |   | Level 3 |
| Invuity, Inc., Unfunded Revolver (8)(9)(16)(21)(23)                                  |   | Healthcare & Pharmaceuticals |   | 0.50% Unfunded |   | 3/1/22 |   | 976 |  |   | (9 | ) |   | (5 | ) |   | Level 3 |
| Oxford Immunotec, Inc., Unfunded Revolver (9)(16)(17)(21)(23)                        |   | Healthcare & Pharmaceuticals |   | 0.50% Unfunded |   | 10/1/21 |   | 1,000 |  |   | (4 | ) |   | — |  |   | Level 3 |
| RiteDose Holdings I, Inc., Unfunded Revolver (8)(9)(16)(21)(23)                      |   | Healthcare & Pharmaceuticals |   | 0.50% Unfunded |   | 9/13/22 |   | 2,000 |  |   | (64 | ) |   | (65 | ) |   | Level 3 |
| Teladoc, Inc., Unfunded Revolver (8)(16)(17)(21)(23)                                 |   | Healthcare & Pharmaceuticals |   | 0.50% Unfunded |   | 7/14/20 |   | 1,667 |  |   | (67 | ) |   | (67 | ) |   | Level 3 |

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|                                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investment                                                            |   | Industry |   | InterestRate (20) |   | MaturityDate |   |  Par (12) |   | Cost |   | FairValue (1) |   | ASC 820 Level (32) |
| Wright Medical Group, Inc., Revolver (9)(16)(17)(23)                  |   | Healthcare & Pharmaceuticals |   | 5.49% (1M L+425, 0.75% Floor) |   | 12/23/21 |   | 18,333 |  |   | 18,333 |  |   | 18,333 |  |   | Level 3 |
| Wright Medical Group, Inc., Unfunded Revolver (9)(16)(17)(21)(23)     |   | Healthcare & Pharmaceuticals |   | 0.50% Unfunded |   | 12/23/21 |   | 31,667 |  |   | (423 | ) |   | — |  |   | Level 3 |
| Total Healthcare & Pharmaceuticals— 1.3%(10)                |   |   |   |   |   | $ | 18,760 |  |   | $ | 19,182 |  |   |   |
| LabVantage Solutions Limited, Unfunded Revolver (8)(16)(17)(21)(23)   |   | High Tech Industries |   | 0.50% Unfunded |   | 12/29/20 |   | € | 3,435 |  |   | $ | (77 | ) |   | $ | (41 | ) |   | Level 3 |
| Tibco Software Inc., Unfunded Revolver (8)(21)(23)                    |   | High Tech Industries |   |  0.50% Unfunded |   | 12/5/19 |   | $ | 6,000 |  |   | — |  |   | (840 | ) |   | Level 3 |
| Total High Tech Industries— -0.1%(10)                           |   |   |   |   |   | $ | (77 | ) |   | $ | (881 | ) |   |   |
| Alliant Holdings Intermediate, LLC, Letter of Credit (8)(16)(23)      |   | Insurance |   | 3.375% |   | 5/4/17 |   | $ | 8 |  |   | $ | — |  |   | $ | — |  |   | Level 3 |
| Alliant Holdings Intermediate, LLC, Letter of Credit (8)(16)(23)      |   | Insurance |   | 3.375% |   | 7/29/17 |   | 80 |  |   | — |  |   | (3 | ) |   | Level 3 |
| Alliant Holdings Intermediate, LLC, Letter of Credit (8)(16)(23)      |   | Insurance |   | 3.375% |   | 10/3/17 |   | 8 |  |   | — |  |   | — |  |   | Level 3 |
| Alliant Holdings Intermediate, LLC, Letter of Credit (8)(16)(23)      |   | Insurance |   | 3.375% |   | 11/30/17 |   | 37 |  |   | — |  |   | (1 | ) |   | Level 3 |
| Alliant Holdings Intermediate, LLC, Letter of Credit (8)(16)(23)      |   | Insurance |   | 3.375% |   | 4/23/18 |   | 37 |  |   | — |  |   | (1 | ) |   | Level 3 |
| Alliant Holdings Intermediate, LLC, Letter of Credit (8)(16)(23)      |   | Insurance |   | 3.375% |   | 7/30/18 |   | 17 |  |   | — |  |   | (1 | ) |   | Level 3 |
| Alliant Holdings Intermediate, LLC, Unfunded Revolver (8)(16)(21)(23) |   | Insurance |   | 0.50% Unfunded |   | 8/14/20 |   | 14,813 |  |   | (981 | ) |   | (509 | ) |   | Level 3 |
| Total Insurance— 0.0%(10)                                       |   |   |   |   |   | $ | (981 | ) |   | $ | (515 | ) |   |   |
| SESAC Holdco II LLC, Unfunded Revolver (8)(16)(21)(23)                |   | Media – Diversified & Production |   |  0.50% Unfunded |   | 2/23/22 |   | $ | 587 |  |   | $ | (46 | ) |   | $ | (44 | ) |   | Level 3 |
| Total Media – Diversified & Production— 0.0%(10)      |   |   |   |   |   | $ | (46 | ) |   | $ | (44 | ) |   |   |
| UniTek Global Services Inc., Letter of Credit (16)(23)                |   | Telecommunications |   | 7.50% |   | 1/13/19 |   | $ | 7,762 |  |   | $ | — |  |   | $ | — |  |   | Level 3 |
| UniTek Global Services Inc., Unfunded Revolver (16)(21)(23)           |   | Telecommunications |   | 0.50% Unfunded |   | 1/13/19 |   | 5,000 |  |   | — |  |   | — |  |   | Level 3 |
| Total Telecommunications— 0.0%(10)                              |   |   |   |   |   | $ | — |  |   | $ | — |  |   |   |
| Total Revolvers and Letters of Credit—3.1%(10)                  |   |   |   |   |   |   |   | $ | 45,692 |  |   | $ | 46,643 |  |   |   |
| Total First Lien Secured Debt—35.1%(10)                         |   |   |   |   |   |   |   | $ | 525,241 |  |   | $ | 517,384 |  |   |   |
| Second Lien Secured Debt                                              |   |   |   |   |   |   |   |   |   |   |   |   |
| A-L Parent LLC                                                        |   | Advertising, Printing & Publishing |   | 8.49% (1M L+725, 1.00% Floor) |   | 12/2/24 |   | $ | 10,048 |  |   | $ | 9,957 |  |   | $ | 10,098 |  |   | Level 3 |
| Total Advertising, Printing & Publishing— 0.7%(10)          |   |   |   |   |   | $ | 9,957 |  |   | $ | 10,098 |  |   |   |
| PAE Holding Corporation                                               |   | Aerospace & Defense |   | 10.74% (1M L+950, 1.00% Floor) |   | 10/20/23 |   | $ | 28,097 |  |   | $ | 27,363 |  |   | $ | 28,272 |  |   | Level 2 |
| Total Aerospace & Defense— 1.9%(10)                         |   |   |   |   |   | $ | 27,363 |  |   | $ | 28,272 |  |   |   |
| K&N Parent, Inc.                                                  |   | Automotive |   | 9.99% (1M L+875, 1.00% Floor) |   | 10/21/24 |   | $ | 27,000 |  |   | $ | 26,517 |  |   | $ | 26,730 |  |   | Level 3 |
| Total Automotive— 1.8%(10)                                      |   |   |   |   |   | $ | 26,517 |  |   | $ | 26,730 |  |   |   |
| Access CIG, LLC                                                       |   | Business Services |   | 9.98% (1M L+875, 1.00% Floor) |   | 10/17/22 |   | $ | 50,970 |  |   | $ | 49,356 |  |   | $ | 50,608 |  |   | Level 3 |
| Almonde, Inc (17)                                                     |   | Business Services |   | 8.57% (3M L+725, 1.00% Floor) |   | 6/13/25 |   | 2,316 |  |   | 2,293 |  |   | 2,364 |  |   | Level 2 |
| Ambrosia Buyer Corp.                                                  |   | Business Services |   | 9.27% (3M L + 800) |   | 8/28/25 |   | 21,429 |  |   | 20,900 |  |   | 20,896 |  |   | Level 3 |
| Appriss Holdings, Inc.                                                |   | Business Services |   | 10.58% (3M L+925, 1.00% Floor) |   | 5/21/21 |   | 23,309 |  |   | 23,104 |  |   | 23,309 |  |   | Level 3 |

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|                                                                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investment                                                                       |   | Industry |   | InterestRate (20) |   | MaturityDate |   |  Par (12) |   | Cost |   | FairValue (1) |   | ASC 820 Level (32) |
| Aptean, Inc.                                                                     |   | Business Services |   | 10.84% (3M L+950, 1.00% Floor) |   | 12/20/23 |   | 9,548 |  |   | 9,419 |  |   | 9,613 |  |   | Level 2 |
| CT Technologies Intermediate Hldgs, Inc (9)                                      |   | Business Services |   | 10.24% (1M L+900, 1.00% Floor) |   | 12/1/22 |   | 31,253 |  |   | 30,387 |  |   | 30,315 |  |   | Level 3 |
| Electro Rent Corporation (9)                                                     |   | Business Services |   | 10.27% (1M L+900, 1.00% Floor) |   | 1/31/25 |   | 52,863 |  |   | 51,338 |  |   | 51,806 |  |   | Level 3 |
| Institutional Shareholder Services, Inc.                                         |   | Business Services |   | 9.74% (1M L+850, 1.00% Floor) |   | 4/30/22 |   | 8,232 |  |   | 8,173 |  |   | 8,232 |  |   | Level 3 |
| Ministry Brands, LLC                                                             |   | Business Services |   | 10.49% (1M L+925, 1.00% Floor) |   | 6/2/23 |   | 10,000 |  |   | 9,868 |  |   | 9,859 |  |   | Level 3 |
| Poseidon Merger Sub, Inc.                                                        |   | Business Services |   | 9.81% (3M L+850, 1.00% Floor) |   | 8/15/23 |   | 18,000 |  |   | 17,602 |  |   | 18,000 |  |   | Level 3 |
| PSI Services, LLC (9)(16)                                                        |   | Business Services |   | 10.24% (1M L+900, 1.00% Floor) |   | 1/20/24 |   | 25,714 |  |   | 25,018 |  |   | 25,134 |  |   | Level 3 |
| RA Outdoors, LLC (9)(16)                                                         |   | Business Services |   | 9.99% (1M L+875, 1.00% Floor) |   | 9/11/25 |   | 34,200 |  |   | 33,351 |  |   | 33,345 |  |   | Level 3 |
| STG-Fairway Acquisitions, Inc.                                                   |   | Business Services |   | 10.57% (3M L+925, 1.00% Floor) |   | 6/30/23 |   | 15,000 |  |   | 14,730 |  |   | 13,499 |  |   | Level 3 |
| Velocity Technology Solutions, Inc.                                              |   | Business Services |   | 9.58% (3M L+825, 1.25% Floor) |   | 9/28/20 |   | 16,500 |  |   | 16,347 |  |   | 16,583 |  |   | Level 3 |
| Total Business Services— 21.3%(10)                                         |   |   |   |   |   | $ | 311,886 |  |   | $ | 313,563 |  |   |   |
| Avantor Performance Materials Holdings, LLC (16)                                 |   | Chemicals, Plastics & Rubber |   | 9.49% (1M L+825, 1.00% Floor) |   | 3/10/25 |   | $ | 1,629 |  |   | $ | 1,614 |  |   | $ | 1,633 |  |   | Level 3 |
| Hare Bidco, Inc.                                                                 |   | Chemicals, Plastics & Rubber |   | 9.75% (3M L+875, 1.00% Floor) |   | 8/1/24 |   | € | 13,574 |  |   | 14,402 |  |   | 15,727 |  |   | Level 3 |
| Total Chemicals, Plastics & Rubber— 1.2%(10)                           |   |   |   |   |   | $ | 16,016 |  |   | $ | 17,360 |  |   |   |
| Hayward Industries, Inc.                                                         |   | Consumer Goods – Durable |   | 9.48% (1M L+825) |   | 8/4/25 |   | $ | 25,110 |  |   | $ | 24,618 |  |   | $ | 24,616 |  |   | Level 3 |
| Total Consumer Goods – Durable— 1.7%(10)                             |   |   |   |   |   | $ | 24,618 |  |   | $ | 24,616 |  |   |   |
| ABG Intermdiate Holdings 2, LLC                                                  |   | Consumer Goods – Non-durable |   | 9.75% (1M L+775, 2.00% Floor) |   | 9/29/25 |   | $ | 8,094 |  |   | $ | 8,033 |  |   | $ | 8,195 |  |   | Level 2 |
| Sequential Brands Group, Inc. (17)                                               |   | Consumer Goods – Non-durable |   | 10.24% (1M L+900) |   | 7/1/22 |   | 17,336 |  |   | 17,163 |  |   | 17,096 |  |   | Level 3 |
| Total Consumer Goods – Non-durable— 1.7%(10)                         |   |   |   |   |   | $ | 25,196 |  |   | $ | 25,291 |  |   |   |
| Sprint Industrial Holdings, LLC (16)(30)                                         |   | Containers, Packaging & Glass |   | 13.50% PIK |   | 11/14/19 |   | $ | 16,163 |  |   | $ | 15,775 |  |   | $ | 6,491 |  |   | Level 3 |
| Sprint Industrial Holdings, LLC (16)(31)                                         |   | Containers, Packaging & Glass |   | 13.50% PIK |   | 11/14/19 |   | 1,688 |  |   | 1,688 |  |   | 1,688 |  |   | Level 3 |
| Total Containers, Packaging & Glass— 0.6%(10)                          |   |   |   |   |   | $ | 17,463 |  |   | $ | 8,179 |  |   |   |
| Armor Holding II LLC                                                             |   | Diversified Investment Vehicles, Banking, Finance, Real Estate |   | 10.34% (3M L+900, 1.25% Floor) |   | 12/26/20 |   | $ | 8,000 |  |   | $ | 7,930 |  |   | $ | 8,110 |  |   | Level 3 |
| Total Diversified Investment Vehicles, Banking, Finance, Real Estate— 0.6% |   |   |   |   |   | $ | 7,930 |  |   | $ | 8,110 |  |   |   |
| Grocery Outlet, Inc.                                                             |   | Food & Grocery |   | 9.58% (3M L+825, 1.00% Floor) |   | 10/21/22 |   | $ | 25,000 |  |   | $ | 24,761 |  |   | $ | 25,281 |  |   | Level 2 |
| Total Food & Grocery— 1.7%(10)                                         |   |   |   |   |   | $ | 24,761 |  |   | $ | 25,281 |  |   |   |
| Avalign Technologies, Inc.                                                       |   | Healthcare & Pharmaceuticals |   | 9.57% (6M L+825, 1.00% Floor) |   | 9/2/24 |   | $ | 5,500 |  |   | $ | 5,446 |  |   | $ | 5,445 |  |   | Level 3 |
| BioClinica Holding I, LP                                                         |   | Healthcare & Pharmaceuticals |   | 9.56% (3M L+825, 1.00% Floor) |   | 10/21/24 |   | 24,612 |  |   | 24,175 |  |   | 24,174 |  |   | Level 2 |
| Elements Behavioral Health, Inc.                                                 |   | Healthcare & Pharmaceuticals |   | 13.32% (3M L+1200 PIK, 1.00% Floor) |   | 2/11/20 |   | 11,946 |  |   | 11,909 |  |   | 9,199 |  |   | Level 3 |
| Lanai Holdings III, Inc.                                                         |   | Healthcare & Pharmaceuticals |   | 10.00% (6M L+850, 1.00% Floor) |   | 8/28/23 |   | 17,391 |  |   | 16,954 |  |   | 16,957 |  |   | Level 3 |
| Total Healthcare & Pharmaceuticals— 3.8%(10)                           |   |   |   |   |   | $ | 58,484 |  |   | $ | 55,775 |  |   |   |

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|                                                                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investment                                                                           |   | Industry |   | InterestRate (20) |   | MaturityDate |   |  Par (12) |   | Cost |   | FairValue (1) |   | ASC 820 Level (32) |
| DigiCert Holding, Inc.                                                               |   | High Tech Industries |   | 9.33% (3M L+800, 1.00% Floor) |   | 9/19/25 |   | $ | 20,196 |  |   | $ | 20,095 |  |   | $ | 20,405 |  |   | Level 2 |
| Smokey Merger Sub, Inc. (9)                                                          |   | High Tech Industries |   | 9.75% (3M L+875, 1.00% Floor) |   | 5/24/24 |   | 30,000 |  |   | 29,145 |  |   | 29,100 |  |   | Level 3 |
| Total High Tech Industries— 3.4%(10)                                           |   |   |   |   |   | $ | 49,240 |  |   | $ | 49,505 |  |   |   |
| SMG                                                                                  |   | Hotel, Gaming, Leisure, Restaurants |   | 9.49% (1M L+825, 1.00% Floor) |   | 2/27/21 |   | $ | 19,649 |  |   | $ | 19,649 |  |   | $ | 19,600 |  |   | Level 2 |
| Total Hotel, Gaming, Leisure, Restaurants— 1.3%(10)                            |   |   |   |   |   | $ | 19,649 |  |   | $ | 19,600 |  |   |   |
| Confie Seguros Holding II Co.                                                        |   | Insurance |   | 11.00% (1M L+975, 1.25% Floor) |   | 5/8/19 |   | $ | 21,844 |  |   | $ | 21,791 |  |   | $ | 21,462 |  |   | Level 2 |
| Total Insurance— 1.5%(10)                                                      |   |   |   |   |   | $ | 21,791 |  |   | $ | 21,462 |  |   |   |
| ATS Consolidated, Inc.                                                               |   | Manufacturing, Capital Equipment |   | 9.74% (1M L+850, 1.00% Floor) |   | 5/30/25 |   | $ | 15,000 |  |   | $ | 14,710 |  |   | $ | 15,038 |  |   | Level 3 |
| MedPlast Holdings Inc.                                                               |   | Manufacturing, Capital Equipment |   | 10.02% (3M L+875, 1.00% Floor) |   | 6/6/23 |   | 8,000 |  |   | 7,816 |  |   | 7,800 |  |   | Level 3 |
| Power Products, LLC (9)                                                              |   | Manufacturing, Capital Equipment |   | 10.31% (3M L+900, 1.00% Floor) |   | 12/20/23 |   | 32,500 |  |   | 31,488 |  |   | 32,022 |  |   | Level 3 |
| Total Manufacturing, Capital Equipment— 3.7%(10)                               |   |   |   |   |   | $ | 54,014 |  |   | $ | 54,860 |  |   |   |
| SESAC Holdco II LLC (16)                                                             |   | Media – Diversified & Production |   | 8.49% (1M L+725, 1.00% Floor) |   | 2/24/25 |   | $ | 3,241 |  |   | $ | 3,211 |  |   | $ | 3,237 |  |   | Level 3 |
| Total Media – Diversified & Production— 0.2%(10)                     |   |   |   |   |   | $ | 3,211 |  |   | $ | 3,237 |  |   |   |
| Parfums Holding Company, Inc.                                                        |   | Retail |   | 10.09% (3M L+875, 1.00% Floor) |   | 6/30/25 |   | $ | 7,000 |  |   | $ | 6,791 |  |   | $ | 6,872 |  |   | Level 2 |
| Total Retail— 0.4%(10)                                                         |   |   |   |   |   | $ | 6,791 |  |   | $ | 6,872 |  |   |   |
| Securus Technologies Holdings, Inc.                                                  |   | Telecommunications |   | 9.46% (1M L+825, 1.00% Floor) |   | 6/20/25 |   | $ | 12,878 |  |   | $ | 12,749 |  |   | $ | 12,991 |  |   | Level 2 |
| Wave Holdco Merger Sub, Inc.                                                         |   | Telecommunications |   | 10.49% (1M L+925, 1.00% Floor) |   | 5/27/23 |   | 10,000 |  |   | 9,792 |  |   | 9,880 |  |   | Level 3 |
| Total Telecommunications— 1.5%(10)                                             |   |   |   |   |   | $ | 22,541 |  |   | $ | 22,871 |  |   |   |
| Total Second Lien Secured Debt—49.0% (10)                                      |   |   |   |   |   |   |   | $ | 727,428 |  |   | $ | 721,682 |  |   |   |
| Total Secured Debt—84.1%(10)                                                   |   |   |   |   |   |   |   | $ | 1,252,669 |  |   | $ | 1,239,066 |  |   |   |
| Unsecured Debt                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| U.S. Security Associates Holdings, Inc.                                              |   | Business Services |   | 11.00% |   | 1/28/20 |   | $ | 80,000 |  |   | $ | 80,000 |  |   | $ | 80,000 |  |   | Level 3 |
| Total Business Services— 5.4%(10)                                              |   |   |   |   |   | $ | 80,000 |  |   | $ | 80,000 |  |   |   |
| Sorenson Holdings, LLC (11)                                                          |   | Consumer Goods – Durable |   |  13.85% Cash (13.85% PIK Toggle) |   | 10/31/21 |   | $ | 52 |  |   | $ | 35 |  |   | $ | 46 |  |   | Level 2 |
| Total Consumer Goods – Durable— 0.0%(10)                                 |   |   |   |   |   | $ | 35 |  |   | $ | 46 |  |   |   |
| UniTek Global Services Inc. (16)                                                     |   | Telecommunications |   |  15.00% PIK |   | 7/13/19 |   | $ | 9,203 |  |   | $ | 9,203 |  |   | $ | 9,387 |  |   | Level 3 |
| Total Telecommunications— 0.7%(10)                                             |   |   |   |   |   | $ | 9,203 |  |   | $ | 9,387 |  |   |   |
| American Tire Distributors, Inc. (11)                                                |   | Transportation – Cargo, Distribution |   | 10.25% |   | 3/1/22 |   | $ | 14,741 |  |   | $ | 14,803 |  |   | $ | 15,442 |  |   | Level 2 |
| Total Transportation – Cargo, Distribution— 1.1%(10)                     |   |   |   |   |   | $ | 14,803 |  |   | $ | 15,442 |  |   |   |
| Total Unsecured Debt—7.2%(10)                                                  |   |   |   |   |   |   |   | $ | 104,041 |  |   | $ | 104,875 |  |   |   |
| Total Corporate Debt—91.3%(10)                                                 |   |   |   |   |   |   |   | $ | 1,356,710 |  |   | $ | 1,343,941 |  |   |   |
| Structured Products and Other                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Craft 2014-1A, Credit-Linked Note (11)(17)                                           |   | Diversified Investment Vehicles, Banking, Finance, Real Estate |   | 10.20% (3M L+965) |   | 5/15/21 |   | $ | 33,877 |  |   | $ | 33,740 |  |   | $ | 33,058 |  |   | Level 3 |
| Craft 2015-2, Credit-Linked Note (11)(17)                                            |   | Diversified Investment Vehicles, Banking, Finance, Real Estate |   | 10.76% (3M L+925) |   | 1/16/24 |   | 26,000 |  |   | 25,777 |  |   | 25,148 |  |   | Level 3 |
| Total Diversified Investment Vehicles, Banking, Finance, Real Estate— 4.0%(10) |   |   |   |   |   | $ | 59,517 |  |   | $ | 58,206 |  |   |   |

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|                                                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investment                                                       |   | Industry |   | InterestRate (20) |   | MaturityDate |   |  Par (12) |   | Cost |   | FairValue (1) |   | ASC 820 Level (32) |
| Asset Repackaging Trust Six B.V. (11)(17)(19)                    |   | Utilities – Electric |   | 13.12% |   | 5/18/27 |   | $ | 58,411 |  |   | $ | 25,827 |  |   | $ | 32,148 |  |   | Level 3 |
| Total Utilities – Electric— 2.1%(10)                 |   |   |   |   |   | $ | 25,827 |  |   | $ | 32,148 |  |   |   |
| Total Structured Products and Other—6.1% (10)              |   |   |   |   |   |   |   | $ | 85,344 |  |   | $ | 90,354 |  |   |   |
| Equity                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Common Equity/Interests                                          |   |   |   |   |   |  Shares |   |   |   |   |   |   |
| Skyline Data, News and Analytics LLC, Class A Common Unit (13)   |   | Business Services |   | N/A |   | N/A |   | 4,500,000 |  |   | $ | 4,500 |  |   | $ | 4,500 |  |   | Level 3 |
| Total Business Services— 0.3%(10)                          |   |   |   |   |   | $ | 4,500 |  |   | $ | 4,500 |  |   |   |
| Sorenson Holdings, LLC, Membership Interests (13)                |   | Consumer Goods – Durable |   | N/A |   | N/A |   | 586 |  |   | $ | — |  |   | $ | 424 |  |   | Level 3 |
| Total Consumer Goods – Durable— 0.0%(10)             |   |   |   |   |   | $ | — |  |   | $ | 424 |  |   |   |
| Accelerate Parent Corp., Common Stock (13)                       |   | Transportation – Cargo, Distribution |   | N/A |   | N/A |   | 1,664,045 |  |   | $ | 1,714 |  |   | $ | 1,740 |  |   | Level 3 |
| Total Transportation – Cargo, Distribution— 0.2%(10) |   |   |   |   |   | $ | 1,714 |  |   | $ | 1,740 |  |   |   |
| Total Common Equity/Interests— 0.5% (10)                   |   |   |   |   |   |   |   | $ | 6,214 |  |   | $ | 6,664 |  |   |   |
| Warrants                                                         |   |   |   |   |   | Warrants |   |   |   |   |   |   |
| Sprint Industrial Holdings, LLC, Warrants (13)(29)               |   | Containers, Packaging & Glass |   | N/A |   | N/A |   | 7,341 |  |   | $ | — |  |   | $ | — |  |   | Level 3 |
| Total Containers, Packaging & Glass— 0.0%(10)          |   |   |   |   |   | $ | — |  |   | $ | — |  |   |   |
| Invuity, Inc., Warrants (9)(13)                                  |   | Healthcare & Pharmaceuticals |   | N/A |   | N/A |   | 16,873 |  |   | $ | 80 |  |   | $ | 105 |  |   | Level 3 |
| Total Healthcare & Pharmaceuticals— 0.0%(10)           |   |   |   |   |   | $ | 80 |  |   | $ | 105 |  |   |   |
| Total Warrants—0.0% (10)                                   |   |   |   |   |   |   |   | $ | 80 |  |   | $ | 105 |  |   |   |
| Total Equity—0.5% (10)                                     |   |   |   |   |   |   |   | $ | 6,294 |  |   | $ | 6,769 |  |   |   |
| Total Non-Controlled/Non-Affiliated Investments—97.9% (10) |   |   |   | $ | 1,448,348 |  |   | $ | 1,441,064 |  |   |   |

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|                                                                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investment                                                                           |   | Industry |   | InterestRate (20) |   | MaturityDate |   |  Par (12) |   | Cost |   | FairValue (1) |   | ASC 820 Level (32) |
| Non-Controlled/Affiliated Investments (4)                                            |   |   |   |   |   |   |   |   |   |   |   |   |
| Corporate Debt                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Secured Debt                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |
| First Lien Secured Debt                                                              |   |   |   |   |   |   |   |   |   |   |   |   |
| Solarplicity Group Limited (3)(17)                                                   |   | Energy – Electricity |   | 8.00% PIK (8.00% Cash Toggle) |   | 11/30/22 |   | £ | 130,501 |  |   | $ | 151,662 |  |   | $ | 134,079 |  |   | Level 3 |
| Total Energy – Electricity— 9.1%(10)                                     |   |   |   |   |   | $ | 151,662 |  |   | $ | 134,079 |  |   |   |
| Total First Lien Secured Debt—9.1% (10)                                        |   |   |   |   |   | $ | 151,662 |  |   | $ | 134,079 |  |   |   |
| Total Secured Debt—9.1% (10)                                                   |   |   |   |   |   |   |   | $ | 151,662 |  |   | $ | 134,079 |  |   |   |
| Unsecured Debt                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Solarplicity UK Holdings Limited (17)                                                |   | Energy – Electricity |   | 8.00% PIK (8.00% Cash Toggle) |   | 2/24/22 |   | £ | 2,000 |  |   | $ | 2,499 |  |   | $ | 2,684 |  |   | Level 3 |
| Total Energy – Electricity— 0.2%(10)                                     |   |   |   |   |   | $ | 2,499 |  |   | $ | 2,684 |  |   |   |
| Total Unsecured Debt—0.2% (10)                                                 |   |   |   |   |   |   |   | $ | 2,499 |  |   | $ | 2,684 |  |   |   |
| Total Corporate Debt—9.3% (10)                                                 |   |   |   |   |   |   |   | $ | 154,161 |  |   | $ | 136,763 |  |   |   |
| Structured Products and Other                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Golden Bear 2016-R, LLC, Membership Interests (3)(17)                                |   | Diversified Investment Vehicles, Banking, Finance, Real Estate |   | N/A |   | 9/20/42 |   | N/A |  |   | $ | 16,459 |  |   | $ | 14,905 |  |   | Level 3 |
| Ivy Hill Middle Market Credit Fund IX, Ltd., Subordinated Notes (3)(11)(17)(22)      |   | Diversified Investment Vehicles, Banking, Finance, Real Estate |   | 17.16% |   | 10/18/25 |   | $ | 12,500 |  |   | 8,834 |  |   | 8,951 |  |   | Level 3 |
| Ivy Hill Middle Market Credit Fund X, Ltd., Subordinated Notes (3)(11)(17)(22)       |   | Diversified Investment Vehicles, Banking, Finance, Real Estate |   | 14.95% |   | 7/26/27 |   | 14,000 |  |   | 10,667 |  |   | 10,058 |  |   | Level 3 |
| Total Diversified Investment Vehicles, Banking, Finance, Real Estate— 2.3%(10) |   |   |   |   |   | $ | 35,960 |  |   | $ | 33,914 |  |   |   |
| Total Structured Products and Other—2.3% (10)                                  |   |   |   |   |   |   |   | $ | 35,960 |  |   | $ | 33,914 |  |   |   |
| Equity                                                                               |   |   |   |   |   |   |   |   |   |   |   |   |
| Preferred Equity                                                                     |   |   |   |   |   |  Shares |   |   |   |   |   |   |
| Renew Financial LLC (f/k/a Renewable Funding, LLC), Series B Preferred Stock (13)    |   | Energy – Electricity |   | N/A |   | N/A |   | 1,505,868 |  |   | $ | 8,343 |  |   | $ | 19,028 |  |   | Level 3 |
| Renew Financial LLC (f/k/a Renewable Funding, LLC), Series D Preferred Stock (13)    |   | Energy – Electricity |   | N/A |   | N/A |   | 436,689 |  |   | 5,568 |  |   | 6,751 |  |   | Level 3 |
| Total Energy – Electricity— 1.8%(10)                                     |   |   |   |   |   | $ | 13,911 |  |   | $ | 25,779 |  |   |   |
| Total Preferred Equity—1.8% (10)                                               |   |   |   |   |   |   |   |   |   | $ | 13,911 |  |   | $ | 25,779 |  |   |   |
| Common Equity/Interests                                                              |   |   |   |   |   |   |   |  Shares |   |   |   |   |   |   |
| AIC SPV Holdings II, LLC, Membership Interests (13)(15)(17)                          |   | Energy – Electricity |   | N/A |   | N/A |   | 534,375 |  |   | $ | 534 |  |   | $ | 1,140 |  |   | Level 3 |
| AMP Solar Group, Inc., Class A Common Unit (13)(17)                                  |   | Energy – Electricity |   | N/A |   | N/A |   | 243,646 |  |   | 10,000 |  |   | 5,196 |  |   | Level 3 |
| Renew JV LLC, Membership Interests (13)(17)                                          |   | Energy – Electricity |   | N/A |   | N/A |   | 3,758,815 |  |   | 4,023 |  |   | 5,359 |  |   | Level 3 |
| Solarplicity Group Limited, Class B Common Shares (2)(3)(13)(17)(26)                 |   | Energy – Electricity |   | N/A |   | N/A |   | 2,825 |  |   | 2,472 |  |   | — |  |   | Level 3 |
| Solarplicity UK Holdings Limited, Ordinary Shares (2)(13)(17)                        |   | Energy – Electricity |   | N/A |   | N/A |   | 2,825 |  |   | 4 |  |   | 4,934 |  |   | Level 3 |
| Total Energy – Electricity— 1.1%(10)                                     |   |   |   |   |   |   |   |   |   | $ | 17,033 |  |   | $ | 16,629 |  |   |   |
| Pelican Energy, LLC, Membership Interests (13)(17)                                   |   | Energy – Oil & Gas |   | N/A |   | N/A |   | 1,444 |  |   | 25,018 |  |   | 11,796 |  |   | Level 3 |
| Total Energy – Oil & Gas— 0.8%(10)                                   |   |   |   |   |   | $ | 25,018 |  |   | $ | 11,796 |  |   |   |
| Total Common Equity/Interests—1.9% (10)                                        |   |   |   |   |   |   |   | $ | 42,051 |  |   | $ | 28,425 |  |   |   |
| Total Equity—3.7% (10)                                                         |   |   |   |   |   |   |   | $ | 55,962 |  |   | $ | 54,204 |  |   |   |
| Total Non-Controlled/Affiliated Investments—15.3% (10)                         |   |   |   |   |   | $ | 246,083 |  |   | $ | 224,881 |  |   |   |

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|                                                                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investment                                                                                            |   | Industry |   | InterestRate (20) |   | MaturityDate |   | Par (12) |   | Cost |   | FairValue (1) |   | ASC 820 Level (32) |
| Controlled Investments (5)                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |
| Corporate Debt                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Secured Debt                                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| First Lien Secured Debt                                                                               |   |   |   |   |   |   |   |   |   |   |   |   |
| First Lien Secured Debt (excluding Revolvers and Letters of Credit)                                   |   |   |   |   |   |   |   |   |   |   |
| Glacier Oil & Gas Corp. (f/k/a Miller Energy Resources, Inc.) (16)(23)                            |   | Energy – Oil & Gas |   | 8.00% Cash (10.00% PIK Toggle) |   | 3/29/19 |   | $ | 15,000 |  |   | $ | 15,000 |  |   | $ | 15,000 |  |   | Level 3 |
| Glacier Oil & Gas Corp. (f/k/a Miller Energy Resources, Inc.), Unfunded Delayed Draw (16)(21)(23) |   | Energy – Oil & Gas |   | 0.00% Unfunded |   | 3/29/19 |   | 5,000 |  |   | — |  |   | — |  |   | Level 3 |
| SHD Oil & Gas, LLC, Tranche A Note (16)                                                           |   | Energy – Oil & Gas |   | 14.00% (8.00% Cash plus 6.00% PIK) |   | 12/31/19 |   | 42,148 |  |   | 42,148 |  |   | 43,412 |  |   | Level 3 |
| SHD Oil & Gas, LLC, Tranche B Note (14)(16)                                                       |   | Energy – Oil & Gas |   | 14.00% PIK |   | 12/31/19 |   | 68,311 |  |   | 44,380 |  |   | 29,550 |  |   | Level 3 |
| SHD Oil & Gas, LLC, Tranche C Note (16)                                                           |   | Energy – Oil & Gas |   | 12.00% |   | 12/31/19 |   | 15,750 |  |   | 15,749 |  |   | 16,223 |  |   | Level 3 |
| SHD Oil & Gas, LLC, Unfunded Delayed Draw (16)(21)(23)                                            |   | Energy – Oil & Gas |   | 0.00% Unfunded |   | 12/31/19 |   | 2,250 |  |   | — |  |   | — |  |   | Level 3 |
| Total Energy – Oil & Gas— 7.1%(10)                                                    |   |   |   |   |   | $ | 117,277 |  |   | $ | 104,185 |  |   |   |
| Total First Lien Secured Debt (excluding Revolvers and Letters of Credit)—7.1% (10)             |   |   |   |   |   | $ | 117,277 |  |   | $ | 104,185 |  |   |   |
| Revolvers and Letters of Credit                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Merx Aviation Finance Assets Ireland Limited, Letter of Credit (16)(23)                               |   | Aviation and Consumer Transport |   | 2.25% |   | 10/1/18 |   | $ | 3,600 |  |   | $ | — |  |   | $ | — |  |   | Level 3 |
| Merx Aviation Finance, LLC, Letter of Credit (16)(23)                                                 |   | Aviation and Consumer Transport |   | 2.25% |   | 7/13/17 |   | 177 |  |   | — |  |   | — |  |   | Level 3 |
| Merx Aviation Finance, LLC, Revolver (16)(23)                                                         |   | Aviation and Consumer Transport |   | 12.00% |   | 10/31/18 |   | 386,500 |  |   | 386,500 |  |   | 386,500 |  |   | Level 3 |
| Total Aviation and Consumer Transport— 26.2%(10)                                                |   |   |   |   |   | $ | 386,500 |  |   | $ | 386,500 |  |   |   |
| Dynamic Product Tankers, LLC, Letter of Credit (17)(23)                                               |   | Transportation – Cargo, Distribution |   | 2.25% |   | 9/20/17 |   | $ | 2,250 |  |   | $ | — |  |   | $ | — |  |   | Level 3 |
| Total Transportation – Cargo, Distribution— 0.0%(10)                                      |   |   |   |   |   | $ | — |  |   | $ | — |  |   |   |
| Total Revolvers and Letters of Credit—26.2% (10)                                                |   |   |   |   |   |   |   | $ | 386,500 |  |   | $ | 386,500 |  |   |   |
| Total First Lien Secured Debt—33.3% (10)                                                        |   |   |   |   |   |   |   | $ | 503,777 |  |   | $ | 490,685 |  |   |   |
| Second Lien Secured Debt                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |
| Glacier Oil & Gas Corp. (f/k/a Miller Energy Resources, Inc.) (16)                                |   | Energy – Oil & Gas |   | 10.00% PIK Toggle (8.00% Cash) |   | 3/29/21 |   | $ | 29,028 |  |   | $ | 29,028 |  |   | $ | 29,028 |  |   | Level 3 |
| Total Energy – Oil & Gas— 2.0%(10)                                                    |   |   |   |   |   | $ | 29,028 |  |   | $ | 29,028 |  |   |   |
| Total Second Lien Secured Debt—2.0% (10)                                                        |   |   |   |   |   |   |   | $ | 29,028 |  |   | $ | 29,028 |  |   |   |
| Total Secured Debt—35.3% (10)                                                                   |   |   |   |   |   |   |   | $ | 532,805 |  |   | $ | 519,713 |  |   |   |
| Total Corporate Debt—35.3% (10)                                                                 |   |   |   |   |   |   |   | $ | 532,805 |  |   | $ | 519,713 |  |   |   |
| Equity                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Common Equity/Interests                                                                               |   |   |   |   |   |  Shares |   |   |   |   |   |   |
| Merx Aviation Finance, LLC, Membership Interests                                                      |   | Aviation and Consumer Transport |   | N/A |   | N/A |   | — |  |   | $ | 15,000 |  |   | $ | 42,664 |  |   | Level 3 |
| Total Aviation and Consumer Transport—2.8%(10)                                                  |   |   |   |   |   | $ | 15,000 |  |   | $ | 42,664 |  |   |   |
| Glacier Oil & Gas Corp. (f/k/a Miller Energy Resources, Inc.), Common Stock (13)                  |   | Energy – Oil & Gas |   | N/A |   | N/A |   | 5,000,000 |  |   | $ | 30,079 |  |   | $ | 17,715 |  |   | Level 3 |

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|                                                                                  |
|----------------------------------------------------------------------------------|
|                                                                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investment                                                                       |   | Industry |   | InterestRate (20) |   | MaturityDate |   | Par (12) |   | Cost |   | FairValue (1) |   | ASC 820 Level (32) |
| SHD Oil & Gas, LLC, Series A Units (13)                                      |   | Energy – Oil & Gas |   | N/A |   | N/A |   | 7,600,000 |  |   | 1,412 |  |   | — |  |   | Level 3 |
| Total Energy – Oil & Gas— 1.2%(10)                               |   |   |   |   |   | $ | 31,491 |  |   | $ | 17,715 |  |   |   |
| Dynamic Product Tankers, LLC, Class A Units (13)(17)(24)                         |   | Transportation – Cargo, Distribution |   | N/A |   | N/A |   | — |  |   | $ | 48,106 |  |   | $ | 42,811 |  |   | Level 3 |
| MSEA Tankers LLC, Class A Units (17)(25)                                         |   | Transportation – Cargo, Distribution |   | N/A |   | N/A |   | — |  |   | 74,450 |  |   | 71,442 |  |   | Level 3 |
| Total Transportation – Cargo, Distribution— 7.8%(10)                 |   |   |   |   |   | $ | 122,556 |  |   | $ | 114,253 |  |   |   |
| Total Common Equity/Interests—11.8% (10)                                   |   |   |   |   |   |   |   | $ | 169,047 |  |   | $ | 174,632 |  |   |   |
| Total Equity—11.8% (10)                                                    |   |   |   |   |   |   |   | $ | 169,047 |  |   | $ | 174,632 |  |   |   |
| Total Controlled Investments—47.1% (10)                                    |   |   |   |   |   |   |   | $ | 701,852 |  |   | $ | 694,345 |  |   |   |
| Total Investments before Cash Equivalents and Option Contracts—160.3% (10) |   |   |   |   |   |   |   | $ | 2,396,283 |  |   | $ | 2,360,290 |  |   |   |

|                                                    |
|----------------------------------------------------|
|                                                    |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investment                                         |   | Industry |   | InterestRate (20) |   | MaturityDate |   | Par (12) |   | Cost |   | FairValue (1) |   | ASC 820 Level (32) |
| J.P. Morgan U.S. Government Money Market Fund (27) |   | N/A |   | N/A |   | N/A |   | — |  |   | $ | 31,179 |  |   | $ | 31,179 |  |   | Level 1 |
| Total Cash Equivalents—2.1% (10)             |   |   |   |   |   |   |   | $ | 31,179 |  |   | $ | 31,179 |  |   |   |

|                                                                                       |
|---------------------------------------------------------------------------------------|
|                                                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Counterparty                                                                          |   | Instrument |   | Exercise Price |   | Maturity Date |   | Number of Contracts |   | Notional Amount (33) |   | Cost (Proceeds) |   | Fair Value (1) |   | ASC 820 Level (32) |
| Option Contracts (Assets)                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Purchased Put Options                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| CME Group                                                                             |   | WTI Crude Oil Put Options |   | $ | 45.00 |  |   | 10/31/17 - 03/29/19 |   | 1,980 |  |   | $ | 89,100 |  |   | $ | 5,057 |  |   | $ | 4,020 |  |   | Level 1 |
| Total Purchased Put Options—0.3% (10)                                           |   |   |   |   |   |   |   |   |   | $ | 5,057 |  |   | $ | 4,020 |  |   | Level 1 |
| Total Option Contracts (Assets) —0.3% (10)                                      |   |   |   |   |   |   |   |   |   | $ | 5,057 |  |   | $ | 4,020 |  |   |   |
| Option Contracts (Liabilities)                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Written Call Options                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| CME Group                                                                             |   | WTI Crude Oil Call Options |   | $ | 54.30 |  |   | 10/31/17 - 03/29/19 |   | 990 |  |   | $ | (53,757 | ) |   | $ | (2,570 | ) |   | $ | (3,080 | ) |   | Level 1 |
| CME Group                                                                             |   | WTI Crude Oil Call Options |   | 55.00 |  |   | 10/31/17 - 03/29/19 |   | 990 |  |   | (54,450 | ) |   | (2,471 | ) |   | (2,797 | ) |   | Level 1 |
| Total Written Call Options—(0.4)% (10)                                          |   |   |   |   |   |   |   |   |   | $ | (5,041 | ) |   | $ | (5,877 | ) |   |   |
| Total Option Contracts (Liabilities)—(0.4)% (10)                                |   |   |   |   |   |   |   | $ | (5,041 | ) |   | $ | (5,877 | ) |   |   |
| Total Investments after Cash Equivalents and Option Contracts—162.3% (6)(7)(10) |   |   |   |   |   |   |   |   |   | $ | 2,427,478 |  |   | $ | 2,389,612 |  |   |   |

|     |                                                                                                                     |
|-----|---------------------------------------------------------------------------------------------------------------------|
| (1) | Fair value is determined in good faith by or under the direction of the Board of Directors of the Company (Note 2). |

|     |                                                                                                         |
|-----|---------------------------------------------------------------------------------------------------------|
| (2) | Solarplicity Group Limited and Solarplicity UK Holdings Limited are GBP denominated equity investments. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3) | Denotes investments in which the Company owns greater than 25% of the equity, where the governing documents of each entity preclude the Company from exercising a controlling influence over the management or policies of such entity. The Company does not have the right to elect or appoint more than 25% of the directors or another party has the right to elect or appoint more directors than the Company and has the right to appoint certain members of senior management. Therefore, the Company has determined that these entities are not controlled affiliates. As of September 30, 2017, we had a 100%, 32%, 32% and 28% equity ownership interest in Golden Bear 2016-R, LLC; Ivy Hill Middle Market Credit Fund IX, Ltd.; Ivy Hill Middle Market Credit Fund X, Ltd. and Solarplicity Group Limited, respectively. |

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|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (4) | Denotes investments in which we are an “Affiliated Person,” as defined in the 1940 Act, due to holding the power to vote or owning 5% or more of the outstanding voting securities of the investment but not controlling the company. Fair value as of March 31, 2017 and September 30, 2017 along with transactions during the six months ended September 30, 2017 in these affiliated investments are as follows: |

|                                                                              |
|------------------------------------------------------------------------------|
|                                                                              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Name of Issue                                                                | Fair Value at March 31, 2017 | Gross Additions ● | Gross Reductions ■ | Net Change in Unrealized Gains (Losses) | Fair Value at September 30, 2017 | Net Realized Gains (Losses) | Interest/Dividend/Other Income |
| AIC SPV Holdings I, LLC, Membership Interests                                | $ | 24,285 |  | $ | 35 |  | $ | (69,073 | ) | $ | 44,753 |  | $ | — |  | $ | (44,327 | ) | $ | 115 |  |
| AIC SPV Holdings II, LLC, Membership Interests                               | — |  | 535 |  | — |  | 605 |  | 1,140 |  | — |  | — |  |
| AMP Solar Group, Inc., Class A Common Unit                                   | 4,687 |  | — |  | — |  | 509 |  | 5,196 |  | — |  | — |  |
| Golden Bear 2016-R, LLC, Membership Interests                                | 17,066 |  | — |  | — |  | (2,161 | ) | 14,905 |  | — |  | — |  |
| Ivy Hill Middle Market Credit Fund IX, Ltd., Subordinated Notes              | 9,537 |  | — |  | (325 | ) | (261 | ) | 8,951 |  | — |  | 745 |  |
| Ivy Hill Middle Market Credit Fund X, Ltd., Subordinated Notes               | 10,841 |  | — |  | (410 | ) | (373 | ) | 10,058 |  | — |  | 776 |  |
| LVI Group Investments, LLC, Common Units                                     | — |  | — |  | (17,506 | ) | 17,506 |  | — |  | (17,505 | ) | (306 | ) |
| MCF CLO I, LLC, Membership Interests                                         | — |  | — |  | — |  | — |  | — |  | — |  | 120 |  |
| MCF CLO III, LLC, Membership Interests,                                      | — |  | — |  | — |  | — |  | — |  | — |  | 427 |  |
| Pelican Energy, LLC, First Lien Term Loan                                    | 15,417 |  | — |  | (26,665 | ) | 11,248 |  | — |  | — |  | — |  |
| Pelican Energy, LLC, Membership Interests                                    | — |  | 26,665 |  | (2,744 | ) | (12,125 | ) | 11,796 |  | — |  | — |  |
| Renew Financial LLC (f/k/a Renewable Funding, LLC), Series B Preferred Stock | 19,383 |  | — |  | — |  | (355 | ) | 19,028 |  | — |  | — |  |
| Renew Financial LLC (f/k/a Renewable Funding, LLC), Series D Preferred Stock | 6,254 |  | — |  | — |  | 497 |  | 6,751 |  | — |  | — |  |
| Renew JV LLC, Membership Interests                                           | 4,701 |  | 2,184 |  | (123 | ) | (1,403 | ) | 5,359 |  | 4,017 |  | — |  |
| Solarplicity Group Limited, First Lien Term Loan                             | 119,426 |  | 5,064 |  | — |  | 9,589 |  | 134,079 |  | — |  | 4,833 |  |
| Solarplicity Group Limited, Class B Common Shares                            | — |  | — |  | — |  | — |  | — |  | — |  | — |  |
| Solarplicity UK Holdings Limited, Unsecured Debt                             | 2,501 |  | — |  | — |  | 183 |  | 2,684 |  | — |  | 105 |  |
| Solarplicity UK Holdings Limited, Ordinary Shares                            | 4,952 |  | — |  | — |  | (18 | ) | 4,934 |  | — |  | — |  |
| Venoco, Inc., Unsecured Debt                                                 | — |  | — |  | (338 | ) | 338 |  | — |  | (338 | ) | — |  |
| Venoco, Inc., LLC Units                                                      | — |  | — |  | (40,517 | ) | 40,517 |  | — |  | (40,517 | ) | — |  |
| Venoco, Inc., Series A Warrants                                              | — |  | — |  | (48,170 | ) | 48,170 |  | — |  | (48,170 | ) | — |  |
|                                                                         | $ | 239,050 |  | $ | 34,483 |  | $ | (205,871 | ) | $ | 157,219 |  | $ | 224,881 |  | $ | (146,840 | ) | $ | 6,815 |  |

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|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (5) | Denotes investments in which we are deemed to exercise a controlling influence over the management or policies of a company, as defined in the 1940 Act, due to beneficially owning, either directly or through one or more controlled companies, more than 25% of the outstanding voting securities of the investment. Fair value as of March 31, 2017 and September 30, 2017 along with transactions during the six months ended September 30, 2017 in these Controlled investments are as follows: |

|                                                                                                                   |
|-------------------------------------------------------------------------------------------------------------------|
|                                                                                                                   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Name of Issue                                                                                                     | Fair Value at March 31, 2017 | Gross Additions ● | Gross Reductions ■ | Net Change in Unrealized Losses | Fair Value at September 30, 2017 | Net Realized Losses | Interest/Dividend/Other Income |
| Dynamic Product Tankers, LLC, Class A Units                                                                       | $ | 42,644 |  | $ | — |  | $ | — |  | $ | 167 |  | $ | 42,811 |  | $ | — |  | $ | — |  |
| Dynamic Product Tankers, LLC, Letter of Credit                                                                    | — |  | — |  | — |  | — |  | — |  | — |  | 26 |  |
| Glacier Oil & Gas Corp. (f/k/a Miller Energy Resources, Inc.), First Lien Term Loan                           | 10,000 |  | 5,000 |  | — |  | — |  | 15,000 |  | — |  | 529 |  |
| Glacier Oil & Gas Corp. (f/k/a Miller Energy Resources, Inc.), Second Lien Term Loan                          | 27,617 |  | 1,411 |  | — |  | — |  | 29,028 |  | — |  | 1,411 |  |
| Glacier Oil & Gas Corp. (f/k/a Miller Energy Resources, Inc.), Common Stock                                   | 18,862 |  | — |  | — |  | (1,147 | ) | 17,715 |  | — |  | — |  |
| Glacier Oil & Gas Corp. (f/k/a Miller Energy Resources, Inc.), Unfunded Delayed Draw, 0.00% Unfunded, 3/29/19 | — |  | — |  | — |  | — |  | — |  | — |  | — |  |
| Merx Aviation Finance Assets Ireland Limited, Letter of Credit                                                    | — |  | — |  | — |  | — |  | — |  | — |  | 41 |  |
| Merx Aviation Finance, LLC, Letter of Credit                                                                      | — |  | — |  | — |  | — |  | — |  | — |  | 2 |  |
| Merx Aviation Finance, LLC, Membership Interests                                                                  | 48,811 |  | — |  | (4,204 | ) | (1,943 | ) | 42,664 |  | — |  | 5,850 |  |
| Merx Aviation Finance, LLC, Revolver                                                                              | 374,084 |  | 115,400 |  | (102,984 | ) | — |  | 386,500 |  | — |  | 26,087 |  |
| MSEA Tankers LLC, Class A Units                                                                                   | 72,797 |  | — |  | — |  | (1,355 | ) | 71,442 |  | — |  | 2,303 |  |
| SHD Oil & Gas, LLC, Series A Units                                                                            | — |  | — |  | — |  | — |  | — |  | — |  | — |  |
| SHD Oil & Gas, LLC, Tranche A Note                                                                            | 40,891 |  | 1,257 |  | — |  | 1,264 |  | 43,412 |  | — |  | 2,933 |  |
| SHD Oil & Gas, LLC, Tranche B Note                                                                            | 32,793 |  | — |  | — |  | (3,243 | ) | 29,550 |  | — |  | — |  |
| SHD Oil & Gas, LLC, Tranche C Note                                                                            | 6,750 |  | 9,000 |  | — |  | 473 |  | 16,223 |  | — |  | 954 |  |
| SHD Oil & Gas, LLC, Unfunded Tranche C Note                                                                   | — |  | — |  | — |  | — |  | — |  | — |  | — |  |
|                                                                                                              | $ | 675,249 |  | $ | 132,068 |  | $ | (107,188 | ) | $ | (5,784 | ) | $ | 694,345 |  | $ | — |  | $ | 40,136 |  |

|       |                                                                                                                                                                                                                                                                                                                                              |
|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | As of September 30, 2017, the Company had a 85%, 48%, 100%, 98% and 38% equity ownership interest in Dynamic Product Tankers, LLC; Glacier Oil & Gas Corp. (f/k/a Miller Energy Resources, Inc.); Merx Aviation Finance, LLC; MSEA Tankers, LLC; and SHD Oil & Gas, LLC (f/k/a Spotted Hawk Development LLC), respectively. |

|     |                                                                                                                                                                                    |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (6) | Aggregate gross unrealized gain and loss for federal income tax purposes is $253,998 and $214,740, respectively. Net unrealized gain is $39,258 based on a tax cost of $2,350,353. |

|     |                                                                                                                                                                                                                                                              |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (7) | Substantially all securities are pledged as collateral to our multi-currency revolving credit facility (the “Senior Secured Facility” as defined in Note 8). As such, these securities are not available as collateral to our general creditors. |

|     |                                                                                 |
|-----|---------------------------------------------------------------------------------|
| (8) | The negative fair value is the result of the commitment being valued below par. |

|     |                                                                                                                                                                                                                                                                                                             |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (9) | These are co-investments made with the Company’s affiliates in accordance with the terms of the exemptive order the Company received from the Securities and Exchange Commission (the “SEC”) permitting us to do so. (See Note 3 for discussion of the exemptive order from the SEC.) |

|      |                                               |
|------|-----------------------------------------------|
| (10) | The percentage is calculated over net assets. |

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|      |                                                                                                                                                                                                                            |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (11) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions that are exempt from registration, normally to qualified institutional buyers. |

|      |                                                                                                                                                        |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------|
| (12) | Denominated in USD unless otherwise noted, Euro (“€”), British Pound (“£”), and Canadian Dollar (“C$”). |

|      |                                |
|------|--------------------------------|
| (13) | Non-income producing security. |

|      |                              |
|------|------------------------------|
| (14) | Non-accrual status (Note 2). |

|      |                                                                                                                                                       |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------|
| (15) | The underlying investments of AIC SPV Holdings II, LLC is a securitization in which the Company has a 15% ownership interest in the residual tranche. |

|      |                                                                                                                                                                                                                                                                                                                                                                       |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (16) | Denotes debt securities where the Company owns multiple tranches of the same broad asset type but whose security characteristics differ. Such differences may include level of subordination, call protection and pricing, and differing interest rate characteristics, among other factors. Such factors are usually considered in the determination of fair values. |

|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (17) | Investments that the Company has determined are not “qualifying assets” under Section 55(a) of the 1940 Act. Under the 1940 Act, we may not acquire any non-qualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70% of our total assets. The status of these assets under the 1940 Act is subject to change. The Company monitors the status of these assets on an ongoing basis. As of September 30, 2017, non-qualifying assets represented approximately 20.86% of the total assets of the Company. |

|      |                                                                                                                                                                                                          |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (18) | In addition to the interest earned based on the stated rate of this loan, the Company may be entitled to receive additional interest as a result of its arrangement with other lenders in a syndication. |

|      |                                                                                                                                                       |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------|
| (19) | This investment represents a leveraged subordinated interest in a trust that holds one foreign currency denominated bond and a derivative instrument. |

|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (20) | Generally, the interest rate on floating interest rate investments is at benchmark rate plus spread. The borrower has an option to choose the benchmark rate, such as the London Interbank Offered Rate (“LIBOR”), the Euro Interbank Offered Rate (“EURIBOR”), the federal funds rate or the prime rate. The spread may change based on the type of rate used. The terms in the Schedule of Investments disclose the actual interest rate in effect as of the reporting period. LIBOR loans are typically indexed to 30-day, 60-day, 90-day or 180-day LIBOR rates (1M L, 3M L, or 6M L, respectively), and EURIBOR loans are typically indexed to 90-day EURIBOR rates (3M E), at the borrower’s option. LIBOR and EURIBOR loans may be subject to interest floors. As of September 30, 2017, rates for 1M L, 3M L, 6M L, 3M E, and prime are 1.23%, 1.33%, 1.51%, (0.38%), and 4.25%, respectively. |

|      |                                                                                                                                         |
|------|-----------------------------------------------------------------------------------------------------------------------------------------|
| (21) | The rates associated with these undrawn committed revolvers and delayed draw term loans represent rates for commitment and unused fees. |

|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (22) | The collateralized loan obligation (“CLO”) equity investments are entitled to recurring distributions which are generally equal to the excess cash flow generated from the underlying investments after payment of the contractual payments to debt holders and fund expenses. The current estimated yield is based on the current projections of this excess cash flow taking into account assumptions such as expected prepayments, losses and future reinvestment rates. These assumptions are periodically reviewed and adjusted. Ultimately, the actual yield may be higher or lower than the estimated yield if actual results differ from those used for the assumptions. |

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|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (23) | As of September 30, 2017, the Company had the following commitments to fund various revolving and delayed draw senior secured and subordinated loans, including commitments to issue letters of credit through a financial intermediary on behalf of certain portfolio companies. Such commitments are subject to the satisfaction of certain conditions set forth in the documents governing these loans and letters of credit and there can be no assurance that such conditions will be satisfied. See Note 10 to the financial statements for further information on revolving and delayed draw loan commitments, including commitments to issue letters of credit, related to certain portfolio companies. |

|                                                                   |
|-------------------------------------------------------------------|
|                                                                   |  |  |  |  |  |  |  |  |  |  |  |  |
| Portfolio Company                                                 | Total Commitment | Drawn Commitment | Letters of Credit | Undrawn Commitment |
| Alliant Holdings Intermediate, LLC                                | $ | 15,000 |  | $ | — |  | $ | 187 |  | $ | 14,813 |  |
| Altasciences / 9360-1367 Quebec Inc.*                             | 4,277 |  | — |  | — |  | 4,277 |  |
| American Media, Inc.                                              | 1,778 |  | 1,481 |  | 154 |  | 143 |  |
| Aptevo Therapeutics Inc.                                          | 15,000 |  | 8,571 |  | — |  | 6,429 |  |
| Avantor Performance Materials Holdings, LLC                       | 5,000 |  | — |  | 122 |  | 4,878 |  |
| Dynamic Product Tankers, LLC                                      | 2,250 |  | — |  | 2,250 |  | — |  |
| Erickson Inc                                                      | 45,000 |  | 26,062 |  | 1,343 |  | 17,595 |  |
| Glacier Oil & Gas Corp. (f/k/a Miller Energy Resources, Inc.) | 20,000 |  | 15,000 |  | — |  | 5,000 |  |
| Invuity, Inc.                                                     | 2,000 |  | 1,024 |  | — |  | 976 |  |
| LabVantage Solutions Limited*                                     | 4,061 |  | — |  | — |  | 4,061 |  |
| Merx Aviation Finance Assets Ireland Limited                      | 3,600 |  | — |  | 3,600 |  | — |  |
| Merx Aviation Finance, LLC                                        | 177 |  | — |  | 177 |  | — |  |
| Oxford Immunotec, Inc.                                            | 1,000 |  | — |  | — |  | 1,000 |  |
| PSI Services, LLC*                                                | 460 |  | 278 |  | — |  | 182 |  |
| PTC Therapeutics, Inc                                             | 6,333 |  | — |  | — |  | 6,333 |  |
| Purchasing Power, LLC                                             | 8,350 |  | 2,021 |  | — |  | 6,329 |  |
| RA Outdoors, LLC                                                  | 1,200 |  | — |  | — |  | 1,200 |  |
| RiteDose Holdings I, Inc.                                         | 2,000 |  | — |  | — |  | 2,000 |  |
| SESAC Holdco II LLC                                               | 587 |  | — |  | — |  | 587 |  |
| SHD Oil & Gas, LLC                                            | 18,000 |  | 15,750 |  | — |  | 2,250 |  |
| Simplifi Holdings, Inc.                                           | 2,400 |  | — |  | — |  | 2,400 |  |
| Teladoc, Inc.                                                     | 1,667 |  | — |  | — |  | 1,667 |  |
| Ten-X, LLC                                                        | 4,680 |  | — |  | — |  | 4,680 |  |
| Tibco Software Inc.                                               | 6,000 |  | — |  | — |  | 6,000 |  |
| TricorBraun Holdings, Inc.                                        | 5,626 |  | 323 |  | — |  | 5,303 |  |
| UniTek Global Services Inc.                                       | 12,762 |  | — |  | 7,762 |  | 5,000 |  |
| Wright Medical Group, Inc.                                        | 50,000 |  | 18,333 |  | — |  | 31,667 |  |
| Total Commitments                                                 | $ | 239,208 |  | $ | 88,843 |  | $ | 15,595 |  | $ | 134,770 |  |

|      |                                                                                                                                                                                                                                                                                                                                                                              |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (24) | As of September 30, 2017, Dynamic Product Tankers, LLC had various classes of limited liability interests outstanding of which the Company holds Class A-1 and Class A-3 units which are identical except that Class A-1 unit is voting and Class A-3 unit is non-voting. The units entitle the Company to appoint three out of five managers to the board of managers. |

|      |                                                                                                                                                                                                                                                                                                                                                                  |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (25) | As of September 30, 2017, MSEA Tankers, LLC had various classes of limited liability interests outstanding of which the Company holds Class A-1 and Class A-2 units which are identical except that Class A-1 unit is voting and Class A-2 unit is non-voting. The units entitle the Company to appoint two out of three managers to the board of managers. |

|      |                                                                                                                                                                                                         |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (26) | As of September 30, 2017, the Company holds two classes of shares in Solarplicity Group Limited. The Company holds 434 shares of Class A shares (non-voting) and 2,391 shares of Class B (voting). |

|      |                                                                                                         |
|------|---------------------------------------------------------------------------------------------------------|
| (27) | This security is included in the Cash and Cash Equivalents on the Statements of Assets and Liabilities. |

|      |                                                                                                                                                                                                                                                                               |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (28) | The unused line fees of 0.50% and 0.25%, respectively are collected for the Unfunded Delayed Draw and Unfunded Revolver from both Altasciences US Acquistion, Inc. and Altasciences / 9360-1367 Quebec Inc. as each borrower has access to the respective lending facilities. |

|      |                                                                                                                                                                                     |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (29) | The Company holds three classes of warrants in Sprint Industrial Holdings, LLC The Company holds 5,595 warrants of Class G, 507 warrants of Class H, and 1,239 warrants of Class I. |

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|      |                                                                                                                                                                                                                                                                  |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (30) | This investment represents the original debt investment made by the Company in Sprint Industrial Holdings, LLC which has been restructured and as a result accumulates PIK as a different investment (footnote 31), which has priority to this investment.  |

|      |                                                                                                                                                                                                                                                                                            |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (31) | This investment represents a new debt investment resulting from the restructuring of the Company’s original debt investment in Sprint Industrial Holdings, LLC.  The investment is comprised of capitalized PIK and has priority to the original debt investment (footnote 30). |

|      |                                                                                                                                                                       |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (32) | The Company follows the guidance in ASC 820, Fair Value Measurement (“ASC 820”) as described in Note 2 within the notes to the Financial Statements. |

|      |                                                                                                                            |
|------|----------------------------------------------------------------------------------------------------------------------------|
| (33) | The notional value represents the number of contracts open multiplied by the exercise price as of September 30, 2017. |

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|                                                                |  |
| Industry Classification                                        | Percentage of Total Investments (at Fair Value) as of September 30, 2017 |
| Business Services                                              | 19.5% |
| Aviation and Consumer Transport                                | 18.2% |
| Energy – Electricity                                     | 9.3% |
| High Tech Industries                                           | 7.2% |
| Energy – Oil & Gas                                   | 6.9% |
| Healthcare & Pharmaceuticals                               | 6.8% |
| Transportation – Cargo, Distribution                     | 5.6% |
| Diversified Investment Vehicles, Banking, Finance, Real Estate | 4.3% |
| Telecommunications                                             | 2.8% |
| Chemicals, Plastics & Rubber                               | 2.8% |
| Manufacturing, Capital Equipment                               | 2.3% |
| Aerospace & Defense                                        | 2.3% |
| Utilities – Electric                                     | 1.9% |
| Food & Grocery                                             | 1.9% |
| Consumer Goods – Durable                                 | 1.7% |
| Advertising, Printing & Publishing                         | 1.6% |
| Automotive                                                     | 1.1% |
| Consumer Goods – Non-durable                             | 1.1% |
| Hotel, Gaming, Leisure, Restaurants                            | 0.9% |
| Insurance                                                      | 0.9% |
| Containers, Packaging & Glass                              | 0.4% |
| Retail                                                         | 0.3% |
| Media – Diversified & Production                     | 0.1% |
| Metals & Mining                                            | 0.1% |
| Total Investments                                              | 100.0% |

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Table of Contents

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|                                                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investment                                                              |   | Industry |   | InterestRate (20) |   | MaturityDate |   | Par (12) |   | Cost |   | FairValue (1) |   | ASC 820 Level (28) |
| Non-Controlled/Non-Affiliated Investments                               |   |   |   |   |   |   |   |   |   |   |   |   |
| Corporate Debt                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Secured Debt                                                            |   |   |   |   |   |   |   |   |   |   |   |   |
| First Lien Secured Debt                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| First Lien Secured Debt (excluding Revolvers and Letters of Credit)     |   |   |   |   |   |   |   |   |   |   |
| American Media, Inc. (16)                                               |   | Advertising, Printing & Publishing |   | 8.50% (1M L+750, 1.00% Floor) |   | 8/24/20 |   | $ | 15,467 |  |   | $ | 15,048 |  |   | $ | 15,467 |  |   | Level 3 |
| Total Advertising, Printing & Publishing— 1.0% (10)           |   |   |   |   |   | $ | 15,048 |  |   | $ | 15,467 |  |   |   |
| Dodge Data & Analytics LLC                                          |   | Business Services |   | 9.94% (3M L+875, 1.00% Floor) |   | 10/31/19 |   | $ | 51,234 |  |   | $ | 50,647 |  |   | $ | 49,825 |  |   | Level 3 |
| My Alarm Center, LLC, Term Loan A (16)                                  |   | Business Services |   | 9.00% (1M L+800, 1.00% Floor) |   | 1/9/19 |   | 28,035 |  |   | 28,035 |  |   | 28,035 |  |   | Level 3 |
| My Alarm Center, LLC, Term Loan B (16)(23)                              |   | Business Services |   | 9.00% (1M L+800, 1.00% Floor) |   | 1/9/19 |   | 8,320 |  |   | 8,320 |  |   | 8,320 |  |   | Level 3 |
| My Alarm Center, LLC, Unfunded Term Loan B (16)(21)(23)                 |   | Business Services |   | 0.35% Unfunded |   | 1/9/19 |   | 441 |  |   | — |  |   | — |  |   | Level 3 |
| My Alarm Center, LLC, Term Loan C (16)(23)                              |   | Business Services |   | 9.00% (1M L+800, 1.00% Floor) |   | 1/9/19 |   | 3,554 |  |   | 3,554 |  |   | 3,554 |  |   | Level 3 |
| My Alarm Center, LLC, Unfunded Term Loan C (16)(21)(23)                 |   | Business Services |   | 0.35% Unfunded |   | 1/9/19 |   | 557 |  |   | — |  |   | — |  |   | Level 3 |
| PSI Services, LLC (9)(16)                                               |   | Business Services |   | 6.00% (1M L+500, 1.00% Floor) |   | 1/20/23 |   | 7,698 |  |   | 7,511 |  |   | 7,508 |  |   | Level 3 |
| SCM Insurance Services, Inc. (17)                                       |   | Business Services |   | 9.250% |   | 8/22/19 |   | C$ | 39,480 |  |   | 33,387 |  |   | 25,527 |  |   | Level 3 |
| Total Business Services— 8.3% (10)                                |   |   |   |   |   | $ | 131,454 |  |   | $ | 122,769 |  |   |   |
| Maxus Capital Carbon SPE I, LLC                                         |   | Chemicals, Plastics & Rubber |   | 5.22% PIK |   | 12/31/18 |   | $ | 59,305 |  |   | $ | 59,305 |  |   | $ | 50,585 |  |   | Level 3 |
| Total Chemicals, Plastics & Rubber— 3.4% (10)                 |   |   |   |   |   | $ | 59,305 |  |   | $ | 50,585 |  |   |   |
| Westinghouse Electric Co LLC (9)(16)                                    |   | Energy – Electricity |   | 7.25% (1M L+625, 1.00% Floor) |   | 3/31/18 |   | $ | 17,500 |  |   | $ | 17,064 |  |   | $ | 17,064 |  |   | Level 3 |
| Westinghouse Electric Co LLC (9)(21)                                    |   | Energy – Electricity |   | 0.50% Unfunded |   | 3/31/18 |   | 22,500 |  |   | — |  |   | — |  |   | Level 3 |
| Total Energy – Electricity— 1.2% (10)                       |   |   |   |   |   | $ | 17,064 |  |   | $ | 17,064 |  |   |   |
| Aptevo Therapeutics Inc. (9)(16)(23)                                    |   | Healthcare & Pharmaceuticals |   | 8.38% (1M L+760) |   | 2/1/21 |   | $ | 8,571 |  |   | $ | 8,605 |  |   | $ | 8,419 |  |   | Level 3 |
| Aptevo Therapeutics Inc., Unfunded Delayed Draw (9)(16)(21)(23)         |   | Healthcare & Pharmaceuticals |   | 0.00% Unfunded |   | 2/1/21 |   | 6,429 |  |   | (27 | ) |   | 114 |  |   | Level 3 |
| Invuity, Inc. (9)(16)                                                   |   | Healthcare & Pharmaceuticals |   | 8.00% (1M L+650, 1.50% Floor) |   | 3/1/22 |   | 6,667 |  |   | 6,558 |  |   | 6,539 |  |   | Level 3 |
| Invuity, Inc., Unfunded Delayed Draw (8)(9)(16)(21)(23)                 |   | Healthcare & Pharmaceuticals |   | 0.00% Unfunded |   | 3/1/22 |   | 3,333 |  |   | (16 | ) |   | (64 | ) |   | Level 3 |
| Novadaq Technologies Inc. (9)(16)(17)(23)                               |   | Healthcare & Pharmaceuticals |   | 7.98% (1M L+720, 0.50% Floor) |   | 1/1/22 |   | 3,333 |  |   | 3,324 |  |   | 3,325 |  |   | Level 3 |
| Novadaq Technologies Inc., Unfunded Delayed Draw (8)(9)(16)(17)(21)(23) |   | Healthcare & Pharmaceuticals |   | 0.00% Unfunded |   | 1/1/22 |   | 6,666 |  |   | (32 | ) |   | (18 | ) |   | Level 3 |
| Oxford Immunotec, Inc. (9)(16)(17)                                      |   | Healthcare & Pharmaceuticals |   | 8.38% (1M L+760) |   | 10/1/21 |   | 9,750 |  |   | 9,752 |  |   | 9,756 |  |   | Level 3 |
| Total Healthcare & Pharmaceuticals— 1.9% (10)                 |   |   |   |   |   | $ | 28,164 |  |   | $ | 28,071 |  |   |   |
| ChyronHego Corporation (18)                                             |   | High Tech Industries |   | 7.43% (1M L+643, 1.00% Floor) |   | 3/9/20 |   | $ | 36,208 |  |   | $ | 35,697 |  |   | $ | 35,484 |  |   | Level 3 |

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|                                                                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investment                                                                                 |   | Industry |   | InterestRate (20) |   | MaturityDate |   | Par (12) |   | Cost |   | FairValue (1) |   | ASC 820 Level (28) |
| ECN Holding Company (Emergency Communications Network) (16)(18)                            |   | High Tech Industries |   | 9.50% (2M L+850, 1.00% Floor) |   | 6/12/21 |   | 22,190 |  |   | 21,944 |  |   | 22,040 |  |   | Level 3 |
| LabVantage Solutions Inc.                                                                  |   | High Tech Industries |   | 9.00% (3M L+800, 1.00% Floor) |   | 12/29/20 |   | 14,438 |  |   | 14,085 |  |   | 14,293 |  |   | Level 3 |
| LabVantage Solutions Limited (16)(17)                                                      |   | High Tech Industries |   | 9.00% (3M E+800, 1.00% Floor) |   | 12/29/20 |   | 13,226 |  |   | 13,852 |  |   | 14,004 |  |   | Level 3 |
| Nextech Systems, LLC (18)                                                                  |   | High Tech Industries |   | 8.40% (3M L+725, 1.00% Floor) |   | 6/22/21 |   | 21,716 |  |   | 21,256 |  |   | 21,282 |  |   | Level 3 |
| Saba Software, Inc. (18)                                                                   |   | High Tech Industries |   | 9.00% (1M L+800, 1.00% Floor) |   | 3/30/21 |   | 9,825 |  |   | 9,825 |  |   | 9,825 |  |   | Level 3 |
| Telestream Holdings Corporation (18)                                                       |   | High Tech Industries |   | 7.61% (3M L+645, 1.00% Floor) |   | 1/15/20 |   | 37,119 |  |   | 36,745 |  |   | 36,376 |  |   | Level 3 |
| Total High Tech Industries— 10.3% (10)                                               |   |   |   |   |   | $ | 153,404 |  |   | $ | 153,304 |  |   |   |
| GFRC Holdings LLC (f/k/a Garden Fresh Restaurant Group. Inc.)                              |   | Hotel, Gaming, Leisure, Restaurants |   | 10.50% (1M L+900 Cash (L+900 PIK Toggle), 1.50% Floor) |   | 2/1/22 |   | $ | 2,500 |  |   | $ | 2,500 |  |   | $ | 2,375 |  |   | Level 3 |
| Total Hotel, Gaming, Leisure, Restaurants— 0.2% (10)                                 |   |   |   |   |   | $ | 2,500 |  |   | $ | 2,375 |  |   |   |
| Magnetation, LLC (14)(16)                                                                  |   | Metals & Mining |   | 12.00% PIK |   | 12/31/19 |   | $ | 12,527 |  |   | $ | 10,378 |  |   | $ | — |  |   | Level 3 |
| Magnetation, LLC (14)(16)                                                                  |   | Metals & Mining |   | 9.15% (3M L+800 Cash (PIK Toggle)) |   | 12/31/19 |   | 2,081 |  |   | 2,050 |  |   | 705 |  |   | Level 3 |
| Total Metals & Mining— 0.0% (10)                                                 |   |   |   |   |   | $ | 12,428 |  |   | $ | 705 |  |   |   |
| UniTek Global Services Inc. (16)                                                           |   | Telecommunications |   | 9.65% (3M L+750 Cash plus 1.00% PIK, 1.00% Floor) |   | 1/13/19 |   | $ | 32,367 |  |   | $ | 32,366 |  |   | $ | 33,013 |  |   | Level 3 |
| UniTek Global Services Inc. (16)                                                           |   | Telecommunications |   | 11.50% (P+750) |   | 1/13/19 |   | 10,000 |  |   | 10,000 |  |   | 10,000 |  |   | Level 3 |
| UniTek Global Services Inc. (16)                                                           |   | Telecommunications |   | 9.65% (3M L+750 Cash plus 1.00% PIK, 1.00% Floor) |   | 1/13/19 |   | 1,709 |  |   | 1,709 |  |   | 1,709 |  |   | Level 3 |
| Total Telecommunications— 3.1% (10)                                                  |   |   |   |   |   | $ | 44,075 |  |   | $ | 44,722 |  |   |   |
| Total First Lien Secured Debt (excluding Revolvers and Letters of Credit)—29.4% (10) |   | $ | 463,442 |  |   | $ | 435,062 |  |   |   |
| Revolvers and Letters of Credit                                                            |   |   |   |   |   |   |   |   |   |   |   |   |
| American Media, Inc., Letter of Credit (16)(23)                                            |   | Advertising, Printing & Publishing |   | 7.500% |   | 8/24/20 |   | $ | 154 |  |   | $ | — |  |   | $ | — |  |   | Level 3 |
| American Media, Inc., Revolver (16)(23)                                                    |   | Advertising, Printing & Publishing |   | 8.56% (3M L+750, 1.00% Floor) |   | 8/24/20 |   | 770 |  |   | 770 |  |   | 770 |  |   | Level 3 |
| American Media, Inc., Unfunded Revolver (16)(21)(23)                                       |   | Advertising, Printing & Publishing |   | 0.50% Unfunded |   | 8/24/20 |   | 854 |  |   | (45 | ) |   | — |  |   | Level 3 |
| Total Advertising, Printing & Publishing— 0.0% (10)                              |   |   |   |   |   | $ | 725 |  |   | $ | 770 |  |   |   |
| My Alarm Center, LLC, Revolver (16)(23)                                                    |   | Business Services |   | 11.00% (P+700) |   | 1/9/19 |   | $ | 5,083 |  |   | $ | 5,083 |  |   | $ | 5,083 |  |   | Level 3 |
| My Alarm Center, LLC, Unfunded Revolver (16)(21)(23)                                       |   | Business Services |   | 0.35% Unfunded |   | 1/9/19 |   | 1,167 |  |   | — |  |   | — |  |   | Level 3 |
| PSI Services, LLC, Revolver (9)(16)(23)                                                    |   | Business Services |   | 6.00% (3M L+500, 1.00% Floor) |   | 1/20/22 |   | 198 |  |   | 198 |  |   | 194 |  |   | Level 3 |
| PSI Services, LLC, Unfunded Revolver (9)(16)(21)(23)                                       |   | Business Services |   | 0.50% Unfunded |   | 1/20/22 |   | £ | 47 |  |   | — |  |   | — |  |   | Level 3 |
| PSI Services, LLC, Unfunded Revolver (9)(8)(16)(21)(23)                                    |   | Business Services |   | 0.50% Unfunded |   | 1/20/22 |   | 198 |  |   | (10 | ) |   | (5 | ) |   | Level 3 |
| Total Business Services— 0.4% (10)                                                   |   |   |   |   |   | $ | 5,271 |  |   | $ | 5,272 |  |   |   |

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|                                                                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investment                                                                           |   | Industry |   | InterestRate (20) |   | MaturityDate |   | Par (12) |   | Cost |   | FairValue (1) |   | ASC 820 Level (28) |
| Avantor Performance Materials Holdings, LLC, Letter of Credit (16)(23)               |   | Chemicals, Plastics & Rubber |   | 4.000% |   | 3/10/18 |   | $ | 72 |  |   | $ | 1 |  |   | $ | — |  |   | Level 3 |
|  Avantor Performance Materials Holdings, LLC, Unfunded Revolver (8)(16)(21)(23) |   | Chemicals, Plastics & Rubber |   | 0.50% Unfunded |   | 3/10/22 |   | 4,928 |  |   | (617 | ) |   | (13 | ) |   | Level 3 |
| Total Chemicals, Plastics & Rubber— 0.0% (10)                              |   |   |   |   |   | $ | (616 | ) |   | $ | (13 | ) |   |   |
| TricorBraun Holdings, Inc., Revolver (16)(23)                                        |   | Containers, Packaging & Glass |   | 6.25% (P+225) |   | 11/30/21 |   | $ | 960 |  |   | $ | 960 |  |   | $ | 960 |  |   | Level 3 |
| TricorBraun Holdings, Inc., Unfunded Revolver (16)(21)(23)                           |   | Containers, Packaging & Glass |   | 0.50% Unfunded |   | 11/30/21 |   | 4,665 |  |   | (472 | ) |   | — |  |   | Level 3 |
| Total Containers, Packaging & Glass— 0.1% (10)                             |   |   |   |   |   | $ | 488 |  |   | $ | 960 |  |   |   |
| Endologix, Inc., Unfunded Revolver (8)(9)(17)(21)(23)                                |   | Healthcare & Pharmaceuticals |   | 0.50% Unfunded |   | 7/29/20 |   | $ | 5,000 |  |   | $ | (21 | ) |   | $ | (25 | ) |   | Level 3 |
| Invuity, Inc., Unfunded Revolver (8)(9)(16)(21)(23)                                  |   |  Healthcare & Pharmaceuticals |   |  0.50% Unfunded |   | 3/1/22 |   | 2,000 |  |   | (9 | ) |   | (10 | ) |   | Level 3 |
| Novadaq Technologies Inc., Unfunded Revolver (8)(9)(16)(17)(21)(23)                  |   | Healthcare & Pharmaceuticals |   | 0.50% Unfunded |   | 1/1/22 |   | 3,000 |  |   | (14 | ) |   | (14 | ) |   | Level 3 |
| Oxford Immunotec, Inc., Unfunded Revolver (8)(9)(16)(17)(21)(23)                     |   | Healthcare & Pharmaceuticals |   | 0.50% Unfunded |   | 10/1/21 |   | 1,000 |  |   | (5 | ) |   | (5 | ) |   | Level 3 |
| Wright Medical Group, Inc., Revolver (9)(16)(17)(23)                                 |   | Healthcare & Pharmaceuticals |   | 5.03% (1M L+425, 0.75% Floor) |   | 12/23/21 |   | 10,000 |  |   | 10,000 |  |   | 9,900 |  |   | Level 3 |
| Wright Medical Group, Inc., Unfunded Revolver (8)(9)(16)(17)(21)(23)                 |   | Healthcare & Pharmaceuticals |   | 0.50% Unfunded |   | 12/23/21 |   | 40,000 |  |   | (302 | ) |   | (400 | ) |   | Level 3 |
| Total Healthcare & Pharmaceuticals— 0.6% (10)                              |   |   |   |   |   | $ | 9,649 |  |   | $ | 9,446 |  |   |   |
| LabVantage Solutions Limited, Unfunded Revolver (8)(16)(17)(21)(23)                  |   | High Tech Industries |   | 0.50% Unfunded |   | 12/29/20 |   | € | 3,435 |  |   | $ | (90 | ) |   | $ | (37 | ) |   | Level 3 |
| Tibco Software Inc., Unfunded Revolver (8)(21)(23)                                   |   | High Tech Industries |   | 0.50% Unfunded |   | 12/5/19 |   | $ | 6,000 |  |   | (32 | ) |   | (839 | ) |   | Level 3 |
| Total High Tech Industries— -0.1% (10)                                         |   |   |   |   |   | $ | (122 | ) |   | $ | (876 | ) |   |   |
| Alliant Holdings Intermediate, LLC, Letter of Credit (8)(16)(23)                     |   | Insurance |   | 3.375% |   | 4/24/17 |   | $ | 37 |  |   | $ | — |  |   | $ | (2 | ) |   | Level 3 |
| Alliant Holdings Intermediate, LLC, Letter of Credit (8)(16)(23)                     |   | Insurance |   | 3.375% |   | 5/4/17 |   | 8 |  |   | — |  |   | — |  |   | Level 3 |
| Alliant Holdings Intermediate, LLC, Letter of Credit (8)(16)(23)                     |   | Insurance |   | 3.375% |   | 6/30/17 |   | 17 |  |   | — |  |   | (1 | ) |   | Level 3 |
| Alliant Holdings Intermediate, LLC, Letter of Credit (8)(16)(23)                     |   | Insurance |   | 3.375% |   | 7/29/17 |   | 80 |  |   | — |  |   | (4 | ) |   | Level 3 |
| Alliant Holdings Intermediate, LLC, Letter of Credit (8)(16)(23)                     |   | Insurance |   | 3.375% |   | 10/3/17 |   | 8 |  |   | — |  |   | — |  |   | Level 3 |
| Alliant Holdings Intermediate, LLC, Letter of Credit (8)(16)(23)                     |   | Insurance |   | 3.375% |   | 11/30/17 |   | 38 |  |   | — |  |   | (2 | ) |   | Level 3 |
| Alliant Holdings Intermediate, LLC, Unfunded Revolver (8)(16)(21)(23)                |   | Insurance |   | 0.50% Unfunded |   | 8/14/20 |   | 14,812 |  |   | (1,152 | ) |   | (697 | ) |   | Level 3 |
| Total Insurance— 0.0% (10)                                                     |   |   |   |   |   | $ | (1,152 | ) |   | $ | (706 | ) |   |   |

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|                                                                   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investment                                                        |   | Industry |   | InterestRate (20) |   | MaturityDate |   | Par (12) |   | Cost |   | FairValue (1) |   | ASC 820 Level (28) |
| SESAC Holdco II LLC, Unfunded Revolver (8)(16)(21)(23)            |   | Media – Diversified & Production |   | 0.50% Unfunded |   | 2/23/22 |   | $ | 587 |  |   | $ | (52 | ) |   | $ | (44 | ) |   | Level 3 |
| Total Media – Diversified & Production— 0.0% (10) |   |   |   |   |   | $ | (52 | ) |   | $ | (44 | ) |   |   |
| UniTek Global Services Inc., Letter of Credit (16)(23)            |   | Telecommunications |   | 7.50% |   | 1/13/19 |   | $ | 7,762 |  |   | $ | — |  |   | $ | — |  |   | Level 3 |
| UniTek Global Services Inc., Unfunded Revolver (16)(21)(23)       |   | Telecommunications |   | 0.50% Unfunded |   | 1/13/19 |   | 5,000 |  |   | — |  |   | — |  |   | Level 3 |
| Total Telecommunications— 0.0% (10)                         |   |   |   |   |   | $ | — |  |   | $ | — |  |   |   |
| Total Revolvers and Letters of Credit— 1.0% (10)            |   |   |   |   |   |   |   | $ | 14,191 |  |   | $ | 14,809 |  |   |   |
| Total First Lien Secured Debt—30.4% (10)                    |   |   |   |   |   |   |   | $ | 477,633 |  |   | $ | 449,871 |  |   |   |
| Second Lien Secured Debt                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| A-L Parent LLC                                                    |   | Advertising, Printing & Publishing |   | 8.25% (1M L+725, 1.00% Floor) |   | 12/2/24 |   | $ | 10,048 |  |   | $ | 9,951 |  |   | $ | 10,023 |  |   | Level 2 |
| Total Advertising, Printing & Publishing— 0.7% (10)     |   |   |   |   |   | $ | 9,951 |  |   | $ | 10,023 |  |   |   |
| PAE Holding Corporation                                           |   | Aerospace & Defense |   | 10.50% (1M L+950, 1.00% Floor) |   | 10/20/23 |   | $ | 22,026 |  |   | $ | 21,297 |  |   | $ | 22,246 |  |   | Level 2 |
| Total Aerospace & Defense— 1.5% (10)                    |   |   |   |   |   | 21,297 |  |   | 22,246 |  |   |   |
| K&N Parent, Inc.                                              |   | Automotive |   | 9.75% (3M L+875, 1.00% Floor) |   | 10/21/24 |   | $ | 30,000 |  |   | $ | 29,425 |  |   | $ | 29,849 |  |   | Level 3 |
| Total Automotive— 2.0% (10)                                 |   |   |   |   |   | $ | 29,425 |  |   | $ | 29,849 |  |   |   |
| SiTV, Inc. (11)                                                   |   | Broadcasting & Subscription |   | 10.38% |   | 7/1/19 |   | $ | 2,219 |  |   | $ | 2,219 |  |   | $ | 1,340 |  |   | Level 2 |
| Total Broadcasting & Subscription— 0.1% (10)            |   |   |   |   |   | $ | 2,219 |  |   | $ | 1,340 |  |   |   |
| Access CIG, LLC (16)                                              |   | Business Services |   | 9.78% (3M L+875, 1.00% Floor) |   | 10/17/22 |   | $ | 50,970 |  |   | $ | 49,054 |  |   | $ | 51,313 |  |   | Level 3 |
| Active Network, LLC                                               |   | Business Services |   | 10.50% (1M L+950, 1.00% Floor) |   | 11/15/21 |   | 17,875 |  |   | 17,712 |  |   | 17,819 |  |   | Level 2 |
| Appriss Holdings, Inc.                                            |   | Business Services |   | 10.40% (3M L+925, 1.00% Floor) |   | 5/21/21 |   | 23,309 |  |   | 23,057 |  |   | 23,309 |  |   | Level 3 |
| Aptean, Inc.                                                      |   | Business Services |   | 10.50% (1M L+950, 1.00% Floor) |   | 12/20/23 |   | 9,548 |  |   | 9,409 |  |   | 9,571 |  |   | Level 2 |
| Electro Rent Corporation (9)                                      |   | Business Services |   | 10.00% (1M L+900, 1.00% Floor) |   | 1/31/25 |   | 18,333 |  |   | 17,795 |  |   | 17,967 |  |   | Level 3 |
| GCA Services Group, Inc.                                          |   | Business Services |   | 10.05% (3M L+900, 1.00% Floor) |   | 3/1/24 |   | 16,250 |  |   | 16,022 |  |   | 16,189 |  |   | Level 2 |
| Institutional Shareholder Services, Inc.                          |   | Business Services |   | 9.61% (3M L+850, 1.00% Floor) |   | 4/30/22 |   | 8,232 |  |   | 8,162 |  |   | 8,314 |  |   | Level 3 |
| Ministry Brands, LLC (16)(23)                                     |   | Business Services |   | 10.25% (1M L+925, 1.00% Floor) |   | 6/2/23 |   | 10,000 |  |   | 9,856 |  |   | 9,851 |  |   | Level 3 |
| Poseidon Merger Sub, Inc.                                         |   | Business Services |   | 9.56% (3M L+850, 1.00% Floor) |   | 8/15/23 |   | 18,000 |  |   | 17,568 |  |   | 18,000 |  |   | Level 3 |
| PSI Services, LLC (9)(16)                                         |   | Business Services |   | 10.00% (1M L+900, 1.00% Floor) |   | 1/20/24 |   | 25,714 |  |   | 24,964 |  |   | 24,950 |  |   | Level 3 |
| Sterling Holdings Ultimate Parent, Inc.                           |   | Business Services |   | 9.40% (3M L+825, 1.00% Floor) |   | 6/19/23 |   | 20,000 |  |   | 19,824 |  |   | 19,800 |  |   | Level 3 |
| STG-Fairway Acquisitions, Inc.                                    |   | Business Services |   | 10.30% (3M L+925, 1.00% Floor) |   | 6/30/23 |   | 15,000 |  |   | 14,685 |  |   | 14,663 |  |   | Level 3 |

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|                                                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investment                                                                            |   | Industry |   | InterestRate (20) |   | MaturityDate |   | Par (12) |   | Cost |   | FairValue (1) |   | ASC 820 Level (28) |
| Velocity Technology Solutions, Inc.                                                   |   | Business Services |   | 9.50% (3M L+825, 1.25% Floor) |   | 9/28/20 |   | 16,500 |  |   | 16,298 |  |   | 16,335 |  |   | Level 3 |
| Total Business Services— 16.7% (10)                                             |   |   |   |   |   | $ | 244,406 |  |   | $ | 248,081 |  |   |   |
| Avantor Performance Materials Holdings, LLC (16)                                      |   | Chemicals, Plastics & Rubber |   | 9.25% (1M L+825, 1.00% Floor) |   | 3/10/25 |   | $ | 737 |  |   | $ | 730 |  |   | $ | 742 |  |   | Level 2 |
| Avantor Performance Materials Holdings, LLC, Unfunded Delayed Draw (16)(21)(23)       |   | Chemicals, Plastics & Rubber |   | 0.00% Unfunded |   | 3/10/25 |   | 892 |  |   | (9 | ) |   | — |  |   | Level 2 |
| Hare Bidco, Inc.                                                                      |   | Chemicals, Plastics & Rubber |   | 9.75% (3M L+875, 1.00% Floor) |   | 8/1/24 |   | € | 13,574 |  |   | 14,381 |  |   | 14,228 |  |   | Level 3 |
| Total Chemicals, Plastics & Rubber— 1.0% (10)                               |   |   |   |   |   | $ | 15,102 |  |   | $ | 14,970 |  |   |   |
| Sequential Brands Group, Inc. (17)                                                    |   | Consumer Goods – Durable |   | 9.83% (1M L+900) |   | 7/1/22 |   | $ | 17,512 |  |   | $ | 17,319 |  |   | $ | 17,252 |  |   | Level 3 |
| Total Consumer Goods – Durable— 1.2% (10)                                 |   |   |   |   |   | $ | 17,319 |  |   | $ | 17,252 |  |   |   |
| Sprint Industrial Holdings, LLC                                                       |   | Containers, Packaging & Glass |   | 13.50% PIK |   | 11/14/19 |   | $ | 16,707 |  |   | $ | 16,213 |  |   | $ | 9,297 |  |   | Level 3 |
| Total Containers, Packaging & Glass— 0.6% (10)                              |   |   |   |   |   | $ | 16,213 |  |   | $ | 9,297 |  |   |   |
| Armor Holding II LLC                                                                  |   | Diversified Investment Vehicles, Banking, Finance, Real Estate | 10.25% (3M L+900, 1.25% Floor) |   | 12/26/20 |   | $ | 8,000 |  |   | $ | 7,906 |  |   | $ | 8,000 |  |   | Level 2 |
| Total Diversified Investment Vehicles, Banking, Finance, Real Estate— 0.5% (10) |   |   |   |   |   | $ | 7,906 |  |   | $ | 8,000 |  |   |   |
| Grocery Outlet, Inc.                                                                  |   | Food & Grocery |   | 9.40% (3M L+825, 1.00% Floor) |   | 10/21/22 |   | $ | 25,000 |  |   | $ | 24,713 |  |   | $ | 25,094 |  |   | Level 2 |
| Total Food & Grocery— 1.7% (10)                                             |   |   |   |   |   | $ | 24,713 |  |   | $ | 25,094 |  |   |   |
| BioClinica Holding I, LP                                                              |   | Healthcare & Pharmaceuticals |   | 9.25% (1M L+825, 1.00% Floor) |   | 10/21/24 |   | $ | 24,612 |  |   | $ | 24,144 |  |   | $ | 24,474 |  |   | Level 2 |
| Elements Behavioral Health, Inc.                                                      |   | Healthcare & Pharmaceuticals |   | 13.04% (3M L+1200 PIK, 1.00% Floor) |   | 2/11/20 |   | 11,192 |  |   | 11,141 |  |   | 9,289 |  |   | Level 3 |
| Lanai Holdings III, Inc.                                                              |   | Healthcare & Pharmaceuticals |   | 9.50% (1M L+850, 1.00% Floor) |   | 8/28/23 |   | 17,391 |  |   | 16,907 |  |   | 17,217 |  |   | Level 2 |
| PetVet Care Centers, LLC                                                              |   | Healthcare & Pharmaceuticals |   | 9.65% (3M L+850, 1.00% Floor) |   | 6/17/21 |   | 13,500 |  |   | 13,120 |  |   | 13,298 |  |   | Level 3 |
| Total Healthcare & Pharmaceuticals— 4.3% (10)                               |   |   |   |   |   | $ | 65,312 |  |   | $ | 64,278 |  |   |   |
| MSC Software Corp. (17)                                                               |   | High Tech Industries |   | 8.50% (1M L+750, 1.00% Floor) |   | 5/31/21 |   | $ | 13,448 |  |   | $ | 13,359 |  |   | $ | 13,464 |  |   | Level 3 |
| Total High Tech Industries— 0.9% (10)                                           |   |   |   |   |   | $ | 13,359 |  |   | $ | 13,464 |  |   |   |
| SMG                                                                                   |   | Hotel, Gaming, Leisure, Restaurants |   | 9.40% (3M L+825, 1.00% Floor) |   | 2/27/21 |   | $ | 19,649 |  |   | $ | 19,649 |  |   | $ | 19,625 |  |   | Level 3 |
| Total Hotel, Gaming, Leisure, Restaurants— 1.3% (10)                            |   |   |   |   |   | $ | 19,649 |  |   | $ | 19,625 |  |   |   |
| Asurion Corporation                                                                   |   | Insurance |   | 8.50% (1M L+750, 1.00% Floor) |   | 3/3/21 |   | $ | 39,590 |  |   | $ | 39,404 |  |   | $ | 40,167 |  |   | Level 2 |
| Confie Seguros Holding II Co.                                                         |   | Insurance |   | 10.25% (1M L+900, 1.25% Floor) |   | 5/8/19 |   | 22,344 |  |   | 22,276 |  |   | 22,260 |  |   | Level 2 |
| Total Insurance— 4.2% (10)                                                      |   |   |   |   |   | $ | 61,680 |  |   | $ | 62,427 |  |   |   |
| MedPlast Holdings Inc.                                                                |   | Manufacturing, Capital Equipment |   | 9.78% (3M L+875, 1.00% Floor) |   | 6/6/23 |   | $ | 8,000 |  |   | $ | 7,800 |  |   | $ | 7,800 |  |   | Level 3 |
| MW Industries, Inc.                                                                   |   | Manufacturing, Capital Equipment |   | 10.40% (3M L+925, 1.00% Floor) |   | 12/28/20 |   | 20,000 |  |   | 19,569 |  |   | 20,100 |  |   | Level 2 |
| Power Products, LLC (9)                                                               |   | Manufacturing, Capital Equipment |   | 10.34% (3M L+900, 1.00% Floor) |   | 12/20/23 |   | 37,500 |  |   | 36,239 |  |   | 36,847 |  |   | Level 3 |
| Total Manufacturing, Capital Equipment— 4.4% (10)                               |   |   |   |   |   | $ | 63,608 |  |   | $ | 64,747 |  |   |   |

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|                                                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investment                                                                            |   | Industry |   | InterestRate (20) |   | MaturityDate |   | Par (12) |   | Cost |   | FairValue (1) |   | ASC 820 Level (28) |
| SESAC Holdco II LLC (16)                                                              |   | Media – Diversified & Production |   | 8.25% (3M L+725, 1.00% Floor) |   | 2/24/25 |   | $ | 3,241 |  |   | $ | 3,209 |  |   | $ | 3,254 |  |   | Level 2 |
| Total Media – Diversified & Production— 0.2% (10)                     |   |   |   |   |   | $ | 3,209 |  |   | $ | 3,254 |  |   |   |
| Wave Holdco Merger Sub, Inc.                                                          |   | Telecommunications |   | 10.25% (1M L+925, 1.00% Floor) |   | 5/27/23 |   | $ | 10,000 |  |   | $ | 9,768 |  |   | $ | 9,874 |  |   | Level 3 |
| Total Telecommunications— 0.7% (10)                                             |   |   |   |   |   | $ | 9,768 |  |   | $ | 9,874 |  |   |   |
| TMK Hawk Parent, Corp.                                                                |   | Transportation – Cargo, Distribution |   | 8.50% (1M L+750, 1.00% Floor) |   | 10/1/22 |   | $ | 34,000 |  |   | $ | 33,745 |  |   | $ | 33,830 |  |   | Level 3 |
| Total Transportation – Cargo, Distribution— 2.4% (10)                     |   |   |   |   |   | $ | 33,745 |  |   | $ | 33,830 |  |   |   |
| Total Second Lien Secured Debt—44.4% (10)                                       |   |   |   |   |   |   |   | $ | 658,881 |  |   | $ | 657,651 |  |   |   |
| Total Secured Debt—74.8% (10)                                                   |   |   |   |   |   |   |   | $ | 1,136,514 |  |   | $ | 1,107,522 |  |   |   |
| Unsecured Debt                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| U.S. Security Associates Holdings, Inc.                                               |   | Business Services |   | 11.00% |   | 7/28/18 |   | $ | 135,000 |  |   | $ | 135,000 |  |   | $ | 135,000 |  |   | Level 3 |
| Total Business Services— 9.1% (10)                                              |   |   |   |   |   | $ | 135,000 |  |   | $ | 135,000 |  |   |   |
| Sorenson Holdings, LLC (11)                                                           |   | Consumer Goods – Durable |   | 13.85% Cash (13.85% PIK Toggle) |   | 10/31/21 |   | $ | 52 |  |   | $ | 35 |  |   | $ | 47 |  |   | Level 2 |
| Total Consumer Goods – Durable— 0.0% (10)                                 |   |   |   |   |   | $ | 35 |  |   | $ | 47 |  |   |   |
| UniTek Global Services Inc. (16)                                                      |   | Telecommunications |   | 15.00% PIK |   | 7/13/19 |   | $ | 8,547 |  |   | $ | 8,547 |  |   | $ | 8,717 |  |   | Level 3 |
| Total Telecommunications— 0.6% (10)                                             |   |   |   |   |   | $ | 8,547 |  |   | $ | 8,717 |  |   |   |
| American Tire Distributors, Inc. (11)                                                 |   | Transportation – Cargo, Distribution |   | 10.25% |   | 3/1/22 |   | $ | 14,741 |  |   | $ | 14,808 |  |   | $ | 15,119 |  |   | Level 2 |
| Total Transportation – Cargo, Distribution— 1.0% (10)                     |   |   |   |   |   | $ | 14,808 |  |   | $ | 15,119 |  |   |   |
| Total Unsecured Debt—10.7% (10)                                                 |   |   |   |   |   |   |   | $ | 158,390 |  |   | $ | 158,883 |  |   |   |
| Total Corporate Debt—85.5% (10)                                                 |   |   |   |   |   |   |   | $ | 1,294,904 |  |   | $ | 1,266,405 |  |   |   |
| Structured Products and Other                                                         |   |   |   |   |   |   |   |   |   |   |   |   |
| Craft 2013-1, Credit-Linked Note (11)(16)(17)                                         |   | Diversified Investment Vehicles, Banking, Finance, Real Estate |   | 10.31% (3M L+925) |   | 4/17/22 |   | $ | 25,000 |  |   | $ | 25,013 |  |   | $ | 25,000 |  |   | Level 3 |
| Craft 2013-1, Credit-Linked Note (16)(17)                                             |   | Diversified Investment Vehicles, Banking, Finance, Real Estate |   | 9.98% (3M L+925) |   | 4/17/22 |   | 7,625 |  |   | 7,694 |  |   | 7,625 |  |   | Level 3 |
| Craft 2014-1A, Credit-Linked Note (11)(17)                                            |   | Diversified Investment Vehicles, Banking, Finance, Real Estate |   | 10.89% (3M L+965) |   | 5/15/21 |   | 42,500 |  |   | 42,376 |  |   | 41,820 |  |   | Level 3 |
| Craft 2015-2, Credit-Linked Note (11)(17)                                             |   | Diversified Investment Vehicles, Banking, Finance, Real Estate |   | 10.31% (3M L+925) |   | 1/16/24 |   | 26,000 |  |   | 25,827 |  |   | 25,389 |  |   | Level 3 |
| Total Diversified Investment Vehicles, Banking, Finance, Real Estate— 6.7% (10) |   |   |   | $ | 100,910 |  |   | $ | 99,834 |  |   |   |
| Asset Repackaging Trust Six B.V. (11)(17)(19)                                         |   | Utilities – Electric |   | 13.11% |   | 5/18/27 |   | $ | 58,411 |  |   | $ | 25,637 |  |   | $ | 29,615 |  |   | Level 3 |
| Total Utilities – Electric— 2.0% (10)                                     |   |   |   |   |   | $ | 25,637 |  |   | $ | 29,615 |  |   |   |
| Total Structured Products and Other—8.7% (10)                                   |   |   |   |   |   |   |   | $ | 126,547 |  |   | $ | 129,449 |  |   |   |
| Equity                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Preferred Equity                                                                      |   |   |   |   |   | Shares |   |   |   |   |   |   |
| Delta Career Education Corporation, Super Senior Preferred Stock A (13)               |   | Education |   | N/A |   | N/A |   | 7,812 |  |   | $ | 7,049 |  |   | $ | — |  |   | Level 3 |

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|                                                                                          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investment                                                                               |   | Industry |   | InterestRate (20) |   | MaturityDate |   | Par (12) |   | Cost |   | FairValue (1) |   | ASC 820 Level (28) |
| Delta Career Education Corporation, Super Senior Preferred Stock B  (13)                 |   | Education |   | N/A |   | N/A |   | 10,585 |  |   | 8,788 |  |   | — |  |   | Level 3 |
| Delta Career Education Corporation, Super Senior Preferred Stock C  (13)                 |   | Education |   | N/A |   | N/A |   | 23,769 |  |   | 20,665 |  |   | — |  |   | Level 3 |
| Gryphon Colleges Corp., Preferred Stock (13)(14)                                         |   | Education |   | 12.50% PIK |   | N/A |   | 332,500 |  |   | 6,863 |  |   | — |  |   | Level 3 |
| Gryphon Colleges Corp., Preferred Stock (13)(14)                                         |   | Education |   | 13.50% PIK |   | N/A |   | 12,360 |  |   | 27,685 |  |   | — |  |   | Level 3 |
| Total Education— 0.0% (10)                                                         |   |   |   |   |   | $ | 71,050 |  |   | $ | — |  |   |   |
| Sungevity Inc., Series D Preferred Stock (13)                                            |   | Energy – Electricity |   | N/A |   | N/A |   | 114,678,899 |  |   | $ | 4,409 |  |   | $ | — |  |   | Level 3 |
| Total Energy – Electricity— 0.0% (10)                                        |   |   |   |   |   | $ | 4,409 |  |   | $ | — |  |   |   |
| Total Preferred Equity—0.0% (10)                                                   |   |   |   |   |   |   |   | $ | 75,459 |  |   | $ | — |  |   |   |
| Common Equity/Interests                                                                  |   |   |   |   |   | Shares |   |   |   |   |   |   |
| Skyline Data, News and Analytics LLC, Class A Common Unit (13)                           |   | Business Services |   | N/A |   | N/A |   | 4,500,000 |  |   | $ | 4,500 |  |   | $ | 4,500 |  |   | Level 3 |
| Total Business Services— 0.3% (10)                                                 |   |   |   |   |   | $ | 4,500 |  |   | $ | 4,500 |  |   |   |
| Sorenson Holdings, LLC, Membership Interests (13)                                        |   | Consumer Goods – Durable |   | N/A |   | N/A |   | 587 |  |   | $ | — |  |   | $ | 231 |  |   | Level 3 |
| Total Consumer Goods – Durable— 0.0% (10)                                    |   |   |   |   |   | $ | — |  |   | $ | 231 |  |   |   |
| Gryphon Colleges Corp., Common Stock (13)                                                |   | Education |   | N/A |   | N/A |   | 17,500 |  |   | $ | 175 |  |   | $ | — |  |   | Level 3 |
| Total Education— 0.0% (10)                                                         |   |   |   |   |   | $ | 175 |  |   | $ | — |  |   |   |
| Clothesline Holdings, Inc., Common Stock (13)                                            |   | Healthcare & Pharmaceuticals |   | N/A |   | N/A |   | 6,000 |  |   | $ | 6,000 |  |   | $ | — |  |   | Level 3 |
| Total Healthcare & Pharmaceuticals— 0.0% (10)                                  |   |   |   |   |   | $ | 6,000 |  |   | $ | — |  |   |   |
| GFRC Holdings LLC (f/k/a Garden Fresh Restaurant Group. Inc.), Membership Interests (13) |   | Hotel, Gaming, Leisure, Restaurants |   | N/A |   | N/A |   | 2,500,000 |  |   | $ | — |  |   | $ | — |  |   | Level 3 |
| Total Hotel, Gaming, Leisure, Restaurants— 0.0% (10)                               |   |   |   |   |   | $ | — |  |   | $ | — |  |   |   |
| Accelerate Parent Corp., Common Stock (13)                                               |   | Transportation – Cargo, Distribution |   | N/A |   | N/A |   | 1,664,046 |  |   | $ | 1,714 |  |   | $ | 1,730 |  |   | Level 3 |
| Total Transportation – Cargo, Distribution— 0.1% (10)                        |   |   |   |   |   | $ | 1,714 |  |   | $ | 1,730 |  |   |   |
| Total Common Equity/Interests—0.4% (10)                                            |   |   |   |   |   |   |   | $ | 12,389 |  |   | $ | 6,461 |  |   |   |
| Warrants                                                                                 |   |   |   |   |   | Warrants |   |   |   |   |   |   |
| Gryphon Colleges Corp., Class A-1 Preferred Stock Warrants (13)                          |   | Education |   | N/A |   | N/A |   | 45,947 |  |   | $ | 460 |  |   | $ | — |  |   | Level 3 |
| Gryphon Colleges Corp., Class B-1 Preferred Stock Warrants (13)                          |   | Education |   | N/A |   | N/A |   | 104,314 |  |   | 1,043 |  |   | — |  |   | Level 3 |
| Gryphon Colleges Corp., Common Stock Warrants (13)                                       |   | Education |   | N/A |   | N/A |   | 9,820 |  |   | 98 |  |   | — |  |   | Level 3 |
| Total Education— 0.0% (10)                                                         |   |   |   |   |   |   |   |   |   | $ | 1,601 |  |   | $ | — |  |   |   |
| Invuity, Inc., Warrants (9)                                                              |   | Healthcare & Pharmaceuticals |   | N/A |   | N/A |   | 16,873 |  |   | $ | 80 |  |   | $ | 94 |  |   | Level 3 |
| Total Healthcare & Pharmaceuticals— 0.0% (10)                                  |   |   |   |   |   | $ | 80 |  |   | $ | 94 |  |   |   |
| Total Warrants—0.0% (10)                                                           |   |   |   |   |   |   |   | $ | 1,681 |  |   | $ | 94 |  |   |   |
| Total Equity— 0.4% (10)                                                            |   |   |   |   |   |   |   | $ | 89,529 |  |   | $ | 6,555 |  |   |   |
| Total Non-Controlled/Non-Affiliated Investments—94.6% (10)                         |   |   |   |   |   | $ | 1,510,980 |  |   | $ | 1,402,409 |  |   |   |

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|                                                                                       |
|---------------------------------------------------------------------------------------|
|                                                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investment                                                                            |   | Industry |   | InterestRate (20) |   | MaturityDate |   | Par (12) |   | Cost |   | FairValue (1) |   | ASC 820 Level (28) |
| Non-Controlled/Affiliated Investments (4)                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Corporate Debt                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Secured Debt                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| First Lien Secured Debt                                                               |   |   |   |   |   |   |   |   |   |   |   |   |
| Solarplicity Group Limited (3)(17)                                                    |   | Energy – Electricity |   | 8.00% PIK Toggle (8.00% Cash) |   | 11/30/22 |   | £ | 125,468 |  |   | $ | 146,598 |  |   | $ | 119,426 |  |   | Level 3 |
| Total Energy – Electricity— 8.1% (10)                                     |   |   |   |   |   |   |   | $ | 146,598 |  |   | $ | 119,426 |  |   |   |
| Pelican Energy, LLC (14)(17)                                                          |   | Energy – Oil & Gas |   | 10.00% PIK Toggle (10.00% Cash) |   | 12/31/18 |   | $ | 31,141 |  |   | $ | 26,665 |  |   | $ | 15,417 |  |   | Level 3 |
| Total Energy – Oil & Gas— 1.0% (10)                                   |   |   |   |   |   |   |   | $ | 26,665 |  |   | $ | 15,417 |  |   |   |
| Total First Lien Secured Debt—9.1% (10)                                         |   |   |   | $ | 173,263 |  |   | $ | 134,843 |  |   |   |
| Total Secured Debt—9.1% (10)                                                    |   |   |   |   |   |   |   | $ | 173,263 |  |   | $ | 134,843 |  |   |   |
| Unsecured Debt                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Solarplicity UK Holdings Limited (17)                                                 |   | Energy – Electricity |   | 8.00% PIK Toggle (8.00% Cash) |   | 2/24/22 |   | £ | 2,000 |  |   | $ | 2,499 |  |   | $ | 2,501 |  |   | Level 3 |
| Total Energy – Electricity— 0.2% (10)                                     |   |   |   |   |   |   |   | $ | 2,499 |  |   | $ | 2,501 |  |   |   |
| Venoco, Inc.                                                                          |   | Energy – Oil & Gas |   | 10.00% PIK |   | 7/25/17 |   | $ | 338 |  |   | $ | 337 |  |   | $ | — |  |   | Level 3 |
| Total Energy – Oil & Gas— 0.0% (10)                                   |   |   |   |   |   |   |   | $ | 337 |  |   | $ | — |  |   |   |
| Total Unsecured Debt—0.2% (10)                                                  |   |   |   | $ | 2,836 |  |   | $ | 2,501 |  |   |   |
| Total Corporate Debt—9.3% (10)                                                  |   |   |   |   |   |   |   | $ | 176,099 |  |   | $ | 137,344 |  |   |   |
| Structured Products and Other                                                         |   |   |   |   |   |   |   |   |   |   |   |   |
| Golden Bear 2016-R, LLC, Membership Interests (3)(17)(22)                             |   | Diversified Investment Vehicles, Banking, Finance, Real Estate |   | N/A |   | 9/20/42 |   | N/A |  |   | $ | 16,459 |  |   | $ | 17,066 |  |   | Level 3 |
| Ivy Hill Middle Market Credit Fund IX, Ltd., Subordinated Notes (3)(11)(17)(22)       |   | Diversified Investment Vehicles, Banking, Finance, Real Estate |   | 13.34% |   | 10/18/25 |   | 12,500 |  |   | 9,158 |  |   | 9,537 |  |   | Level 3 |
| Ivy Hill Middle Market Credit Fund X, Ltd., Subordinated Notes (3)(11)(17)(22)        |   | Diversified Investment Vehicles, Banking, Finance, Real Estate |   | 11.25% |   | 7/18/27 |   | 14,000 |  |   | 11,078 |  |   | 10,841 |  |   | Level 3 |
| Total Diversified Investment Vehicles, Banking, Finance, Real Estate— 2.5%(10)  |   |   |   | $ | 36,695 |  |   | $ | 37,444 |  |   |   |
| Total Structured Products and Other—2.5% (10)                                   |   |   |   |   |   |   |   | $ | 36,695 |  |   | $ | 37,444 |  |   |   |
| Equity                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Preferred Equity                                                                      |   |   |   |   |   | Shares |   |   |   |   |   |   |
| Renew Financial LLC (f/k/a Renewable Funding, LLC), Series B Preferred Stock (13)     |   | Energy – Electricity |   |  N/A |   | N/A |   | 1,505,868 |  |   | $ | 8,343 |  |   | $ | 19,383 |  |   | Level 3 |
| Renew Financial LLC (f/k/a Renewable Funding, LLC), Series D Preferred Stock (13)     |   | Energy – Electricity |   |  N/A |   | N/A |   | 436,689 |  |   | 5,568 |  |   | 6,254 |  |   | Level 3 |
| Total Energy – Electricity— 1.7% (10)                                     |   |   |   |   |   | $ | 13,911 |  |   | $ | 25,637 |  |   |   |
| Total Preferred Equity—1.7% (10)                                                |   |   |   |   |   |   |   | $ | 13,911 |  |   | $ | 25,637 |  |   |   |
| Common Equity/Interests                                                               |   |   |   |   |   | Shares |   |   |   |   |   |   |
| AIC SPV Holdings I, LLC, Membership Interests (15)(17)(23)                            |   | Diversified Investment Vehicles, Banking, Finance, Real Estate |   | N/A |   | N/A |   | N/A |  |   | $ | 69,040 |  |   | $ | 24,285 |  |   | Level 3 |
| Total Diversified Investment Vehicles, Banking, Finance, Real Estate— 1.6% (10) |   |   |   | $ | 69,040 |  |   | $ | 24,285 |  |   |   |
| AMP Solar Group, Inc., Class A Common Unit (13)(17)                                   |   | Energy – Electricity |   | N/A |   | N/A |   | 243,646 |  |   | $ | 10,000 |  |   | $ | 4,687 |  |   | Level 3 |
| Renew JV LLC, Membership Interests (13)(17)                                           |   | Energy – Electricity |   | N/A |   | N/A |   | 1,959,906 |  |   | 1,960 |  |   | 4,701 |  |   | Level 3 |

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|---------------------------------------------------------------|
|                                                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investment                                                    |   | Industry |   | InterestRate (20) |   | MaturityDate |   | Par (12) |   | Cost |   | FairValue (1) |   | ASC 820 Level (28) |
| Solarplicity Group Limited, Common Shares (2)(3)(13)(17)(26)  |   | Energy – Electricity |   | N/A |   | N/A |   | 2,825 |  |   | 2,472 |  |   | — |  |   | Level 3 |
| Solarplicity UK Holdings Limited, Ordinary Shares (2)(13)(17) |   | Energy – Electricity |   | N/A |   | N/A |   | 2,825 |  |   | 3 |  |   | 4,952 |  |   | Level 3 |
| Total Energy – Electricity— 1.0% (10)             |   |   |   |   |   | $ | 14,435 |  |   | $ | 14,340 |  |   |   |
| Pelican Energy, LLC, Membership Interests (13)(17)            |   | Energy – Oil & Gas |   | N/A |   | N/A |   | 1,228 |  |   | $ | 1,099 |  |   | $ | — |  |   | Level 3 |
| Venoco, Inc., LLC Units (13)                                  |   | Energy – Oil & Gas |   | N/A |   | N/A |   | 192,177 |  |   | 40,517 |  |   | — |  |   | Level 3 |
| Total Energy – Oil & Gas— 0.0% (10)           |   |   |   |   |   | $ | 41,616 |  |   | $ | — |  |   |   |
| LVI Group Investments, LLC, Common Units (3)(13)              |   | Environmental Industries |   | N/A |   | N/A |   | 212,460 |  |   | $ | 17,505 |  |   | $ | — |  |   | Level 3 |
| Total Environmental Industries— 0.0% (10)               |   |   |   |   |   | $ | 17,505 |  |   | $ | — |  |   |   |
| Total Common Equity/Interests—2.6% (10)                 |   |   |   |   |   |   |   | $ | 142,596 |  |   | $ | 38,625 |  |   |   |
| Warrants                                                      |   |   |   |   |   | Warrants |   |   |   |   |   |   |
| Venoco, Inc., Series A Warrants (13)                          |   | Energy – Oil & Gas |   | N/A |   | N/A |   | 23,125 |  |   | $ | 48,170 |  |   | $ | — |  |   | Level 3 |
| Total Energy – Oil & Gas— 0.0% (10)           |   |   |   |   |   | $ | 48,170 |  |   | $ | — |  |   |   |
| Total Warrants—0.0% (10)                                |   |   |   |   |   |   |   | $ | 48,170 |  |   | $ | — |  |   |   |
| Total Equity—4.3% (10)                                  |   |   |   |   |   |   |   | $ | 204,677 |  |   | $ | 64,262 |  |   |   |
| Total Non-Controlled/Affiliated Investments—16.1% (10)  |   |   |   |   |   |   |   | $ | 417,471 |  |   | $ | 239,050 |  |   |   |

|                                                                                                   |
|---------------------------------------------------------------------------------------------------|
|                                                                                                   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investment                                                                                        |   | Industry |   | InterestRate (20) |   | MaturityDate |   | Par (12) |   | Cost |   | FairValue (1) |   | ASC 820 Level (28) |
| Controlled Investments (5)                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Corporate Debt                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Secured Debt                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
| First Lien Secured Debt                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| First Lien Secured Debt (excluding Revolvers and Letters of Credit)                               |   |   |   |   |   |   |   |   |   |   |
| Glacier Oil & Gas Corp. (f/k/a Miller Energy Resources, Inc.) (16)(23)                        |   | Energy – Oil & Gas |   | 8.00% Cash (10.00% PIK Toggle) |   | 3/29/19 |   | $ | 10,000 |  |   | $ | 10,000 |  |   | $ | 10,000 |  |   | Level 3 |
| SHD Oil & Gas, LLC (f/k/a Spotted Hawk Development LLC), Tranche A Note (16)                  |   | Energy – Oil & Gas |   | 14.00% (8.00% Cash plus 6.00% PIK) |   | 12/31/19 |   | 40,891 |  |   | 40,891 |  |   | 40,891 |  |   | Level 3 |
| SHD Oil & Gas, LLC (f/k/a Spotted Hawk Development LLC), Tranche B Note (14)(16)              |   | Energy – Oil & Gas |   | 14.00% PIK |   | 12/31/19 |   | 63,697 |  |   | 44,380 |  |   | 32,793 |  |   | Level 3 |
| SHD Oil & Gas, LLC (f/k/a Spotted Hawk Development LLC), Tranche C Note (16)(23)              |   | Energy – Oil & Gas |   | 12.00% |   | 12/31/19 |   | 6,750 |  |   | 6,750 |  |   | 6,750 |  |   | Level 3 |
| SHD Oil & Gas, LLC (f/k/a Spotted Hawk Development LLC), Unfunded Tranche C Note (16)(21)(23) |   | Energy – Oil & Gas |   | 0.00% Unfunded |   | 12/31/19 |   | 11,250 |  |   | — |  |   | — |  |   | Level 3 |
| Total Energy – Oil & Gas— 6.1% (10)                                               |   |   |   |   |   | $ | 102,021 |  |   | $ | 90,434 |  |   |   |
| Total First Lien Secured Debt (excluding Revolvers and Letters of Credit)—6.1% (10)         |   | $ | 102,021 |  |   | $ | 90,434 |  |   |   |
| Revolvers and Letters of Credit                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Merx Aviation Finance Assets Ireland Limited, Letter of Credit (16)(23)                           |   | Aviation and Consumer Transport |   | 2.25% |   | 7/31/17 |   | $ | 177 |  |   | $ | — |  |   | $ | — |  |   | Level 3 |
| Merx Aviation Finance Assets Ireland Limited, Letter of Credit (16)(23)                           |   | Aviation and Consumer Transport |   | 2.25% |   | 9/30/17 |   | 3,600 |  |   | — |  |   | — |  |   | Level 3 |
| Merx Aviation Finance, LLC, Revolver (16)(23)                                                     |   | Aviation and Consumer Transport |   | 12.00% |   | 10/31/18 |   | 374,084 |  |   | 374,084 |  |   | 374,084 |  |   | Level 3 |
| Merx Aviation Finance, LLC, Unfunded Revolver (16)(21)(23)                                        |   | Aviation and Consumer Transport |   | 0.00% Unfunded |   | 10/31/18 |   | 125,916 |  |   | — |  |   | — |  |   | Level 3 |
| Total Aviation and Consumer Transport— 25.2% (10)                                           |   | $ | 374,084 |  |   | $ | 374,084 |  |   |   |

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|                                                                                      |
|--------------------------------------------------------------------------------------|
|                                                                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investment                                                                           |   | Industry |   | InterestRate (20) |   | MaturityDate |   | Par (12) |   | Cost |   | FairValue (1) |   | ASC 820 Level (28) |
| Dynamic Product Tankers, LLC, Letter of Credit (17)(23)                              |   | Transportation – Cargo, Distribution |   | 2.25% |   | 9/20/17 |   | 2,250 |  |   | $ | — |  |   | $ | — |  |   | Level 3 |
| Total Transportation – Cargo, Distribution— 0.0% (10)                    |   | $ | — |  |   | $ | — |  |   |   |
| Total Revolvers and Letters of Credit—25.2% (10)                               |   |   |   |   |   |   |   | $ | 374,084 |  |   | $ | 374,084 |  |   |   |
| Total First Lien Secured Debt—31.3% (10)                                       |   |   |   |   |   |   |   | $ | 476,105 |  |   | $ | 464,518 |  |   |   |
| Second Lien Secured Debt                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Glacier Oil & Gas Corp. (f/k/a Miller Energy Resources, Inc.) (16)               |   | Energy – Oil & Gas |   | 10.00% PIK Toggle (8.00% Cash) |   | 3/29/21 |   | $ | 27,617 |  |   | $ | 27,617 |  |   | $ | 27,617 |  |   | Level 3 |
| Total Energy – Oil & Gas— 1.9%                                       |   |   |   |   |   | $ | 27,617 |  |   | $ | 27,617 |  |   |   |
| Total Second Lien Secured Debt—1.9% (10)                                       |   |   |   |   |   |   |   | $ | 27,617 |  |   | $ | 27,617 |  |   |   |
| Total Secured Debt—33.2% (10)                                                  |   |   |   |   |   |   |   | $ | 503,722 |  |   | $ | 492,135 |  |   |   |
| Total Corporate Debt—33.2% (10)                                                |   |   |   |   |   |   |   | $ | 503,722 |  |   | $ | 492,135 |  |   |   |
| Equity                                                                               |   |   |   |   |   |   |   |   |   |   |   |   |
| Common Equity/Interests                                                              |   |   |   |   |   | Shares |   |   |   |   |   |   |
| Merx Aviation Finance, LLC, Membership Interests                                     |   | Aviation and Consumer Transport |   | N/A |   | N/A |   | N/A |  |   | $ | 19,204 |  |   | $ | 48,811 |  |   | Level 3 |
| Total Aviation and Consumer Transport— 3.3% (10)                               |   |   |   |   |   |   |   | $ | 19,204 |  |   | $ | 48,811 |  |   |   |
| Glacier Oil & Gas Corp. (f/k/a Miller Energy Resources, Inc.), Common Stock (13) |   | Energy – Oil & Gas |   | N/A |   | N/A |   | 5,000 |  |   | $ | 30,078 |  |   | $ | 18,862 |  |   | Level 3 |
| SHD Oil & Gas, LLC (f/k/a Spotted Hawk Development LLC), Series A Units (13)     |   | Energy – Oil & Gas |   | N/A |   | N/A |   | 7,600 |  |   | 1,412 |  |   | — |  |   | Level 3 |
| Total Energy – Oil & Gas— 1.30% (10)                                 |   |   |   |   |   |   |   | $ | 31,490 |  |   | $ | 18,862 |  |   |   |
| Dynamic Product Tankers, LLC, Class A Units (17)(24)                                 |   | Transportation – Cargo, Distribution |   | N/A |   | N/A |   | N/A |  |   | $ | 48,106 |  |   | $ | 42,644 |  |   | Level 3 |
| MSEA Tankers LLC, Class A Units (17)(25)                                             |   | Transportation – Cargo, Distribution |   | N/A |   | N/A |   | N/A |  |   | 74,450 |  |   | 72,797 |  |   | Level 3 |
| Total Transportation – Cargo, Distribution— 7.8% (10)                    |   |   |   |   |   | $ | 122,556 |  |   | $ | 115,441 |  |   |   |
| Total Common Equity/Interests—12.4% (10)                                       |   |   |   |   |   |   |   | $ | 173,250 |  |   | $ | 183,114 |  |   |   |
| Total Equity—12.4% (10)                                                        |   |   |   |   |   |   |   | $ | 173,250 |  |   | $ | 183,114 |  |   |   |
| Total Controlled Investments—45.6% (10)                                        |   |   |   |   |   |   |   | $ | 676,972 |  |   | $ | 675,249 |  |   |   |
|                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Investments before Cash Equivalents—156.3% (10)                          |   |   |   |   |   | $ | 2,605,423 |  |   | $ | 2,316,708 |  |   |   |
| J.P. Morgan U.S. Government Money Market Fund (27)                                   |   | N/A |   | N/A |   | N/A |   | 9,783 |  |   | $ | 9,783 |  |   | $ | 9,783 |  |   | Level 1 |
| Total Cash Equivalents—0.7% (10)                                               |   |   |   |   |   |   |   | $ | 9,783 |  |   | $ | 9,783 |  |   |   |
| Total Investments after Cash Equivalents—157.0% (6)(7)(10)                     |   |   |   | $ | 2,615,206 |  |   | $ | 2,326,491 |  |   |   |

|     |                                                                                                                     |
|-----|---------------------------------------------------------------------------------------------------------------------|
| (1) | Fair value is determined in good faith by or under the direction of the Board of Directors of the Company (Note 2). |

|     |                                                                                                         |
|-----|---------------------------------------------------------------------------------------------------------|
| (2) | Solarplicity Group Limited and Solarplicity UK Holdings Limited are GBP denominated equity investments. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3) | Denotes investments in which the Company owns greater than 25% of the equity, where the governing documents of each entity preclude the Company from exercising a controlling influence over the management or policies of such entity. The Company does not have the right to elect or appoint more than 25% of the directors or another party has the right to elect or appoint more directors than the Company and has the right to appoint certain members of senior management. Therefore, the Company has determined that these entities are not controlled affiliates. As of March 31, 2017, we had a 100%, 32%, 32%, 36% and 28% equity ownership interest in Golden Bear 2016-R, LLC; Ivy Hill Middle Market Credit Fund IX, Ltd.; Ivy Hill Middle Market Credit Fund X, Ltd.; LVI Group Investments, LLC and Solarplicity Group Limited, respectively. |

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|     |                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (4) | Denotes investments in which we are an “Affiliated Person,” as defined in the 1940 Act, due to holding the power to vote or owning 5% or more of the outstanding voting securities of the investment but not controlling the company. Fair value as of March 31, 2016 and March 31, 2017 along with transactions during the year ended March 31, 2017 in these affiliated investments are as follows: |

|                                                                              |
|------------------------------------------------------------------------------|
|                                                                              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Name of Issue                                                                | Fair Value at March 31, 2016 | Gross Additions ● | Gross Reductions ■ | Net Change in Unrealized Gains (Losses) | Fair Value at March 31, 2017 | Net Realized Gains (Losses) | Interest/Dividend/Other Income |
| AIC SPV Holdings I, LLC, Membership Interests                                | $ | — |  | $ | 69,039 |  | $ | — |  | $ | (44,754 | ) | $ | 24,285 |  | $ | — |  | $ | 599 |  |
| AMP Solar Group, Inc., Class A Common Unit                                   | — |  | 7,022 |  | — |  | (2,335 | ) | 4,687 |  | — |  | — |  |
| Generation Brands Holdings, Inc., Basic Common Stock                         | 9,712 |  | 1 |  | — |  | (9,713 | ) | — |  | 10,155 |  | — |  |
| Generation Brands Holdings, Inc., Series 2L Common Stock                     | 39,572 |  | — |  | (11,242 | ) | (28,330 | ) | — |  | 29,963 |  | — |  |
| Generation Brands Holdings, Inc., Series H Common Stock                      | 8,087 |  | — |  | (2,298 | ) | (5,789 | ) | — |  | 6,123 |  | — |  |
| Golden Bear 2016-R, LLC, Membership Interests                                | — |  | 16,460 |  | — |  | 606 |  | 17,066 |  | — |  | — |  |
| Golden Bear Warehouse LLC, Membership Interests                              | 49,617 |  | 27,777 |  | (60,685 | ) | (16,709 | ) | — |  | 34,216 |  | 3,020 |  |
| Highbridge Loan Management 3-2014, Ltd., Subordinated Notes                  | 4,975 |  | — |  | (5,547 | ) | 572 |  | — |  | (75 | ) | 113 |  |
| Ivy Hill Middle Market Credit Fund IX, Ltd., Subordinated Notes              | 9,717 |  | — |  | (1,022 | ) | 842 |  | 9,537 |  | — |  | 1,465 |  |
| Ivy Hill Middle Market Credit Fund X, Ltd., Subordinated Notes               | 10,722 |  | — |  | (1,212 | ) | 1,331 |  | 10,841 |  | — |  | 1,509 |  |
| Jamestown CLO I Ltd., Subordinated Notes                                     | 380 |  | — |  | (2,875 | ) | 2,495 |  | — |  | (1,448 | ) | — |  |
| LVI Group Investments, LLC, Common Units                                     | 21,486 |  | — |  | — |  | (21,486 | ) | — |  | — |  | 44 |  |
| MCF CLO I, LLC, Membership Interests                                         | 33,145 |  | — |  | (33,268 | ) | 123 |  | — |  | 2,113 |  | 3,904 |  |
| MCF CLO III, LLC, Class E Notes                                              | 10,073 |  | 1,180 |  | (12,753 | ) | 1,500 |  | — |  | — |  | 1,719 |  |
| MCF CLO III, LLC, Membership Interests                                       | 31,180 |  | — |  | (34,700 | ) | 3,520 |  | — |  | 5,184 |  | 4,500 |  |
| Pelican Energy, LLC, First Lien Term Loan                                    | 17,500 |  | — |  | (143 | ) | (1,940 | ) | 15,417 |  | — |  | — |  |
| Pelican Energy, LLC, Membership Interests                                    | — |  | — |  | — |  | — |  | — |  | — |  | — |  |
| Renew Financial LLC (f/k/a Renewable Funding, LLC), Series B Preferred Stock | 20,459 |  | — |  | — |  | (1,076 | ) | 19,383 |  | — |  | — |  |
| Renew Financial LLC (f/k/a Renewable Funding, LLC), Series D Preferred Stock | 5,933 |  | — |  | — |  | 321 |  | 6,254 |  | — |  | — |  |
| Renew JV LLC, Membership Interests                                           | — |  | 1,960 |  | — |  | 2,741 |  | 4,701 |  | — |  | — |  |
| Solarplicity Group Limited, First Lien Term Loan                             | — |  | 160,281 |  | (57,085 | ) | 16,230 |  | 119,426 |  | (36,217 | ) | 2,385 |  |
| Solarplicity Group Limited, Common Shares                                    | — |  | — |  | — |  | — |  | — |  | — |  | — |  |
| Solarplicity UK Holdings Limited, Unsecured Debt                             | — |  | 2,499 |  | — |  | 2 |  | 2,501 |  | — |  | 20 |  |
| Solarplicity UK Holdings Limited, Ordinary Shares                            | — |  | 4 |  | — |  | 4,948 |  | 4,952 |  | — |  | — |  |
| Venoco, Inc., Unsecured Debt                                                 | — |  | 338 |  | — |  | (338 | ) | — |  | — |  | — |  |
| Venoco, Inc., LLC Units                                                      | — |  | 40,517 |  | — |  | (40,517 | ) | — |  | — |  | — |  |
| Venoco, Inc., Series A Warrants                                              | — |  | 48,170 |  | — |  | (48,170 | ) | — |  | — |  | — |  |
|                                                                         | $ | 272,558 |  | $ | 375,248 |  | $ | (222,830 | ) | $ | (185,926 | ) | $ | 239,050 |  | $ | 50,014 |  | $ | 19,278 |  |

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|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (5) | Denotes investments in which we are deemed to exercise a controlling influence over the management or policies of a company, as defined in the 1940 Act, due to beneficially owning, either directly or through one or more controlled companies, more than 25% of the outstanding voting securities of the investment. Fair value as of March 31, 2016 and March 31, 2017 along with transactions during the year ended March 31, 2017 in these Controlled investments are as follows: |

|                                                                                          |
|------------------------------------------------------------------------------------------|
|                                                                                          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Name of Issue                                                                            | Fair Value at March 31, 2016 | Gross Additions ● | Gross Reductions ■ | Net Change in Unrealized Losses | Fair Value at March 31, 2017 | Net Realized Losses | Interest/Dividend/Other Income |
| Dynamic Product Tankers, LLC, Letter of Credit                                           | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 25 |  |
| Dynamic Product Tankers, LLC, Class A Units                                              | 48,264 |  | — |  | — |  | (5,620 | ) | 42,644 |  | — |  | 1,200 |  |
| Glacier Oil & Gas Corp. (f/k/a Miller Energy Resources, Inc.), First Lien Term Loan  | — |  | 10,000 |  | — |  | — |  | 10,000 |  | — |  | 470 |  |
| Glacier Oil & Gas Corp. (f/k/a Miller Energy Resources, Inc.), Second Lien Term Loan | 25,000 |  | 2,617 |  | — |  | — |  | 27,617 |  | — |  | 2,619 |  |
| Glacier Oil & Gas Corp. (f/k/a Miller Energy Resources, Inc.), Common Stock          | 30,078 |  | — |  | — |  | (11,216 | ) | 18,862 |  | — |  | — |  |
| Merx Aviation Finance, LLC, Revolver                                                     | 403,084 |  | 11,000 |  | (40,000 | ) | — |  | 374,084 |  | — |  | 48,256 |  |
| Merx Aviation Finance, LLC, Letter of Credit                                             | — |  | — |  | — |  | — |  | — |  | — |  | (1 | ) |
| Merx Aviation Finance Assets Ireland Limited, Letter of Credit                           | — |  | — |  | — |  | — |  | — |  | — |  | (18 | ) |
| Merx Aviation Finance, LLC, Membership Interests                                         | 93,714 |  | — |  | (45,049 | ) | 146 |  | 48,811 |  | — |  | 9,700 |  |
| MSEA Tankers LLC, Class A Units                                                          | 84,138 |  | — |  | (10,550 | ) | (791 | ) | 72,797 |  | — |  | 6,850 |  |
| SHD Oil & Gas, LLC (f/k/a Spotted Hawk Development LLC), Tranche A Note              | — |  | 40,890 |  | — |  | 1 |  | 40,891 |  | — |  | 2,095 |  |
| SHD Oil & Gas, LLC (f/k/a Spotted Hawk Development LLC), Tranche B Note              | — |  | 28,936 |  | — |  | 3,857 |  | 32,793 |  | — |  | — |  |
| SHD Oil & Gas, LLC (f/k/a Spotted Hawk Development LLC), Tranche C Note              | — |  | 6,750 |  | — |  | — |  | 6,750 |  | — |  | 262 |  |
| SHD Oil & Gas, LLC (f/k/a Spotted Hawk Development LLC), Unfunded Tranche C Note     | — |  | — |  | — |  | — |  | — |  | — |  | — |  |
| SHD Oil & Gas, LLC (f/k/a Spotted Hawk Development LLC), Series A Units              | — |  | — |  | — |  | — |  | — |  | — |  | — |  |
| Solarplicity Group Limited, First lien Term Loan                                         | 163,034 |  | 41,732 |  | (169,365 | ) | (35,401 | ) | — |  | (2,173 | ) | 14,228 |  |
| Solarplicity Group Limited, Class B Common Shares                                        | 6,665 |  | — |  | — |  | (6,665 | ) | — |  | — |  | — |  |
|                                                                                     | $ | 853,977 |  | $ | 141,925 |  | $ | (264,964 | ) | $ | (55,689 | ) | $ | 675,249 |  | $ | (2,173 | ) | $ | 85,686 |  |

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|     |                                                                                                                                                                                    |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (6) | Aggregate gross unrealized gain and loss for federal income tax purposes is $70,774 and $314,345, respectively. Net unrealized loss is $243,571 based on a tax cost of $2,560,279. |

|     |                                                                                                                                                                                                                                                              |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (7) | Substantially all securities are pledged as collateral to our multi-currency revolving credit facility (the “Senior Secured Facility” as defined in Note 8). As such, these securities are not available as collateral to our general creditors. |

|     |                                                                                 |
|-----|---------------------------------------------------------------------------------|
| (8) | The negative fair value is the result of the commitment being valued below par. |

|     |                                                                                                                                                                                                                                                                                                         |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (9) | These are co-investments made with the Company’s affiliates in accordance with the terms of the exemptive order the Company received from the Securities and Exchange Commission (the “SEC”) permitting us to do so. (See Note 3 for discussion of the exemptive order from the SEC.) |

|      |                                               |
|------|-----------------------------------------------|
| (10) | The percentage is calculated over net assets. |

|      |                                                                                                                                                                                                                            |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (11) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions that are exempt from registration, normally to qualified institutional buyers. |

|      |                                                                                                                                                        |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------|
| (12) | Denominated in USD unless otherwise noted, Euro (“€”), British Pound (“£”), and Canadian Dollar (“C$”). |

|      |                                |
|------|--------------------------------|
| (13) | Non-income producing security. |

|      |                              |
|------|------------------------------|
| (14) | Non-accrual status (Note 2). |

|      |                                                                                                                                                                                                                                                           |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (15) | The underlying investments of AIC SPV Holdings I, LLC are two secured debt positions and one preferred equity position in SquareTwo Financial Corporation. One of the secured debt positions and the preferred equity position are on non-accrual status. |

|      |                                                                                                                                                                                                                                                                                                                                                                       |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (16) | Denotes debt securities where the Company owns multiple tranches of the same broad asset type but whose security characteristics differ. Such differences may include level of subordination, call protection and pricing, and differing interest rate characteristics, among other factors. Such factors are usually considered in the determination of fair values. |

|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (17) | Investments that the Company has determined are not “qualifying assets” under Section 55(a) of the 1940 Act. Under the 1940 Act, we may not acquire any non-qualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70% of our total assets. The status of these assets under the 1940 Act is subject to change. The Company monitors the status of these assets on an ongoing basis. As of March 31, 2017, non-qualifying assets represented approximately 23.0% of the total assets of the Company. |

|      |                                                                                                                                                                                                          |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (18) | In addition to the interest earned based on the stated rate of this loan, the Company may be entitled to receive additional interest as a result of its arrangement with other lenders in a syndication. |

|      |                                                                                                                                                       |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------|
| (19) | This investment represents a leveraged subordinated interest in a trust that holds one foreign currency denominated bond and a derivative instrument. |

|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (20) | Generally, the interest rate on floating interest rate investments is at benchmark rate plus spread. The borrower has an option to choose the benchmark rate, such as the London Interbank Offered Rate (“LIBOR”), the Euro Interbank Offered Rate (“EURIBOR”), the federal funds rate or the prime rate. The spread may change based on the type of rate used. The terms in the Schedule of Investments disclose the actual interest rate in effect as of the reporting period. LIBOR loans are typically indexed to 30-day, 60-day, 90-day or 180-day LIBOR rates (1M L, 3M L, or 6M L, respectively), and EURIBOR loans are typically indexed to 90-day EURIBOR rates (3M E), at the borrower’s option. LIBOR and EURIBOR loans may be subject to interest floors. As of March 31, 2017, rates for 1M L, 2M L, 3M L, 6M L, 3M E, and prime are 0.98%, 1.03%, 1.15%, 1.42%, (0.33%), and 4.00%, respectively. |

|      |                                                                                                                                         |
|------|-----------------------------------------------------------------------------------------------------------------------------------------|
| (21) | The rates associated with these undrawn committed revolvers and delayed draw term loans represent rates for commitment and unused fees. |

|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (22) | The collateralized loan obligation (“CLO”) equity investments are entitled to recurring distributions which are generally equal to the excess cash flow generated from the underlying investments after payment of the contractual payments to debt holders and fund expenses. The current estimated yield is based on the current projections of this excess cash flow taking into account assumptions such as expected prepayments, losses and future reinvestment rates. These assumptions are periodically reviewed and adjusted. Ultimately, the actual yield may be higher or lower than the estimated yield if actual results differ from those used for the assumptions. |

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|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (23) | As of March 31, 2017, the Company had the following commitments to fund various revolving and delayed draw senior secured and subordinated loans, including commitments to issue letters of credit through a financial intermediary on behalf of certain portfolio companies. Such commitments are subject to the satisfaction of certain conditions set forth in the documents governing these loans and letters of credit and there can be no assurance that such conditions will be satisfied. See Note 10 to the financial statements for further information on revolving and delayed draw loan commitments, including commitments to issue letters of credit, related to certain portfolio companies. |

|                                                             |
|-------------------------------------------------------------|
|                                                             |  |  |  |  |  |  |  |  |  |  |  |  |
| Portfolio Company                                           | Total Commitment | Drawn Commitment | Letters of Credit | Undrawn Commitment |
| AIC SPV Holdings I, LLC                                     | $ | 8,888 |  | $ | 4,629 |  | $ | — |  | $ | 4,259 |  |
| Alliant Holdings Intermediate, LLC                          | 15,000 |  | — |  | 188 |  | 14,812 |  |
| American Media, Inc.                                        | 1,778 |  | 770 |  | 154 |  | 854 |  |
| Aptevo Therapeutics Inc.                                    | 15,000 |  | 8,571 |  | — |  | 6,429 |  |
| Avantor Performance Materials Holdings, LLC                 | 6,629 |  | 737 |  | 72 |  | 5,820 |  |
| Dynamic Product Tankers, LLC                                | 2,250 |  | — |  | 2,250 |  | — |  |
| Endologix, Inc.                                             | 5,000 |  | — |  | — |  | 5,000 |  |
| Invuity, Inc.                                               | 12,000 |  | 6,667 |  | — |  | 5,333 |  |
| LabVantage Solutions Limited                                | 3,674 |  | — |  | — |  | 3,674 |  |
| Merx Aviation Finance, LLC                                  | 3,600 |  | — |  | 3,600 |  | — |  |
| Merx Aviation Finance Assets Ireland Limited                | 177 |  | — |  | 177 |  | — |  |
| My Alarm Center, LLC                                        | 19,122 |  | 16,958 |  | — |  | 2,164 |  |
| Novadaq Technologies Inc.                                   | 13,000 |  | 3,333 |  | — |  | 9,667 |  |
| Oxford Immunotec, Inc.                                      | 1,000 |  | — |  | — |  | 1,000 |  |
| PSI Services, LLC                                           | 455 |  | 198 |  | — |  | 257 |  |
| SESAC Holdco II LLC                                         | 587 |  | — |  | — |  | 587 |  |
| SHD Oil & Gas, LLC (f/k/a Spotted Hawk Development LLC) | 18,000 |  | 6,750 |  | — |  | 11,250 |  |
| Tibco Software Inc.                                         | 6,000 |  | — |  | — |  | 6,000 |  |
| TricorBraun Holdings, Inc.                                  | 5,625 |  | 960 |  | — |  | 4,665 |  |
| UniTek Global Services Inc.                                 | 12,762 |  | — |  | 7,762 |  | 5,000 |  |
| Westinghouse Electric Co LLC                                | 40,000 |  | 17,500 |  | — |  | 22,500 |  |
| Wright Medical Group, Inc.                                  | 50,000 |  | 10,000 |  | — |  | 40,000 |  |
| Total Commitments                                           | $ | 240,547 |  | $ | 77,073 |  | $ | 14,203 |  | $ | 149,271 |  |

|      |                                                                                                                                                                                                                                                                                                                                                                          |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (24) | As of March 31, 2017, Dynamic Product Tankers, LLC had various classes of limited liability interests outstanding of which the Company holds Class A-1 and Class A-3 units which are identical except that Class A-1 unit is voting and Class A-3 unit is non-voting. The units entitle the Company to appoint three out of five managers to the board of managers. |

|      |                                                                                                                                                                                                                                                                                                                                                              |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (25) | As of March 31, 2017, MSEA Tankers, LLC had various classes of limited liability interests outstanding of which the Company holds Class A-1 and Class A-2 units which are identical except that Class A-1 unit is voting and Class A-2 unit is non-voting. The units entitle the Company to appoint two out of three managers to the board of managers. |

|      |                                                                                                                                                                                                     |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (26) | As of March 31, 2017, the Company holds two classes of shares in Solarplicity Group Limited. The Company holds 434 shares of Class A shares (non-voting) and 2,391 shares of Class B (voting). |

|      |                                                                                                         |
|------|---------------------------------------------------------------------------------------------------------|
| (27) | This security is included in the Cash and Cash Equivalents on the Statements of Assets and Liabilities. |

|      |                                                                                                                                                                       |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (28) | The Company follows the guidance in ASC 820, Fair Value Measurement (“ASC 820”) as described in Note 2 within the notes to the Financial Statements. |

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|                                                                |
|----------------------------------------------------------------|
|                                                                |  |
| Industry Classification                                        | Percentage of Total Investments (at Fair Value) as of March 31, 2017 |
| Business Services                                              | 22.3% |
| Aviation and Consumer Transport                                | 18.3% |
| Energy – Electricity                                     | 7.7% |
| Diversified Investment Vehicles, Banking, Finance, Real Estate | 7.3% |
| Transportation – Cargo, Distribution                     | 7.2% |
| High Tech Industries                                           | 7.2% |
| Energy – Oil & Gas                                   | 6.6% |
| Healthcare & Pharmaceuticals                               | 4.4% |
| Chemicals, Plastics & Rubber                               | 2.8% |
| Manufacturing, Capital Equipment                               | 2.8% |
| Telecommunications                                             | 2.7% |
| Insurance                                                      | 2.7% |
| Automotive                                                     | 1.3% |
| Utilities – Electric                                     | 1.3% |
| Advertising, Printing & Publishing                         | 1.1% |
| Food & Grocery                                             | 1.1% |
| Aerospace & Defense                                        | 1.0% |
| Hotel, Gaming, Leisure, Restaurants                            | 0.9% |
| Consumer Goods – Durable                                 | 0.7% |
| Containers, Packaging & Glass                              | 0.4% |
| Media – Diversified & Production                     | 0.1% |
| Broadcasting & Subscription                                | 0.1% |
| Metals & Mining                                            | 0.0% |
| Education                                                      | 0.0% |
| Environmental Industries                                       | 0.0% |
| Total Investments                                              | 100.0% |

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|    |                                                                                                                                                                                      |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 1. | Our quarterly valuation process begins with each investment being initially valued by the investment professionals of our Investment Adviser who are responsible for the investment. |

|    |                                                                                                                       |
|----|-----------------------------------------------------------------------------------------------------------------------|
| 2. | Preliminary valuation conclusions are then documented and discussed with senior management of our Investment Adviser. |

|    |                                                                                                                                                                                                                          |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3. | Independent valuation firms are engaged by our Board of Directors to conduct independent appraisals by reviewing our Investment Adviser’s preliminary valuations and then making their own independent assessment. |

|    |                                                                                                                                                                                                                                                                         |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4. | The Audit Committee of the Board of Directors reviews the preliminary valuation of our Investment Adviser and the valuation prepared by the independent valuation firms and responds, if warranted, to the valuation recommendation of the independent valuation firms. |

|    |                                                                                                                                                                                                                                                                         |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 5. | The Board of Directors discusses valuations and determines in good faith the fair value of each investment in our portfolio based on the input of our Investment Adviser, the applicable independent valuation firm, and the Audit Committee of the Board of Directors. |

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|                                                                 |
|-----------------------------------------------------------------|
|                                                                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                            | Three Months Ended September 30, |   | Six Months Ended September 30, |
|                                                            | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Earnings (Loss) Per Share                                       |   |   |   |   |   |   |   |
| Net increase (decrease) in net assets resulting from operations | $ | 31,787 |  |   | $ | 41,114 |  |   | $ | 60,568 |  |   | $ | (972 | ) |
| Weighted average shares outstanding                             | 219,519,803 |  |   | 223,835,344 |  |   | 219,606,751 |  |   | 224,882,304 |  |
| Earnings (loss) per share                                       | $ | 0.14 |  |   | $ | 0.18 |  |   | $ | 0.28 |  |   | $ | 0.00 |  |

|                                                                |
|----------------------------------------------------------------|
|                                                                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                           |   |   |   |   | Fair Value Hierarchy |
|                                                                | Cost |  | Fair Value |   | Level 1 |   | Level 2 |   | Level 3 |
| First Lien Secured Debt                                        | $ | 1,180,680 |  |   | $ | 1,142,148 |  |   | $ | — |  |   | $ | 13,758 |  |   | $ | 1,128,390 |  |
| Second Lien Secured Debt                                       | 756,456 |  |   | 750,710 |  |   | — |  |   | 179,229 |  |   | 571,481 |  |
| Unsecured Debt                                                 | 106,540 |  |   | 107,559 |  |   | — |  |   | 15,488 |  |   | 92,071 |  |
| Structured Products and Other                                  | 121,304 |  |   | 124,268 |  |   | — |  |   | — |  |   | 124,268 |  |
| Preferred Equity                                               | 13,911 |  |   | 25,779 |  |   | — |  |   | — |  |   | 25,779 |  |
| Common Equity/Interests                                        | 217,312 |  |   | 209,721 |  |   | — |  |   | — |  |   | 209,721 |  |
| Warrants                                                       | 80 |  |   | 105 |  |   | — |  |   | — |  |   | 105 |  |
| Total Investments before Option Contracts and Cash Equivalents | $ | 2,396,283 |  |   | $ | 2,360,290 |  |   | $ | — |  |   | $ | 208,475 |  |   | $ | 2,151,815 |  |
| Purchased Put Options                                          | $ | 5,057 |  |   | $ | 4,020 |  |   | $ | 4,020 |  |   | $ | — |  |   | $ | — |  |
| Written Call Options                                           | (5,041 | ) |   | (5,877 | ) |   | (5,877 | ) |   | — |  |   | — |  |
| Total Option Contracts                                         | $ | 16 |  |   | $ | (1,857 | ) |   | $ | (1,857 | ) |   | $ | — |  |   | $ | — |  |
| Money Market Fund                                              | $ | 31,179 |  |   | $ | 31,179 |  |   | $ | 31,179 |  |   | $ | — |  |   | $ | — |  |
| Total Cash Equivalents                                         | $ | 31,179 |  |   | $ | 31,179 |  |   | $ | 31,179 |  |   | $ | — |  |   | $ | — |  |
| Total Investments after Option Contracts and Cash Equivalents  | $ | 2,427,478 |  |   | $ | 2,389,612 |  |   | $ | 29,322 |  |   | $ | 208,475 |  |   | $ | 2,151,815 |  |

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|                                        |
|----------------------------------------|
|                                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                   |   |   |   |   | Fair Value Hierarchy |
|                                   | Cost |   | Fair Value |   | Level 1 |   | Level 2 |   | Level 3 |
| First Lien Secured Debt                | $ | 1,127,001 |  |   | $ | 1,049,232 |  |   | $ | — |  |   | $ | — |  |   | $ | 1,049,232 |  |
| Second Lien Secured Debt               | 686,498 |  |   | 685,268 |  |   | — |  |   | 238,496 |  |   | 446,772 |  |
| Unsecured Debt                         | 161,226 |  |   | 161,384 |  |   | — |  |   | 15,166 |  |   | 146,218 |  |
| Structured Products and Other          | 163,242 |  |   | 166,893 |  |   | — |  |   | — |  |   | 166,893 |  |
| Preferred Equity                       | 89,370 |  |   | 25,637 |  |   | — |  |   | — |  |   | 25,637 |  |
| Common Equity/Interests                | 328,235 |  |   | 228,200 |  |   | — |  |   | — |  |   | 228,200 |  |
| Warrants                               | 49,851 |  |   | 94 |  |   | — |  |   | — |  |   | 94 |  |
| Total Investments                      | $ | 2,605,423 |  |   | $ | 2,316,708 |  |   | $ | — |  |   | $ | 253,662 |  |   | $ | 2,063,046 |  |
| Money Market Fund                      | $ | 9,783 |  |   | $ | 9,783 |  |   | $ | 9,783 |  |   | $ | — |  |   | $ | — |  |
| Total Cash Equivalents                 | $ | 9,783 |  |   | $ | 9,783 |  |   | $ | 9,783 |  |   | $ | — |  |   | $ | — |  |
| Total Investments and Cash Equivalents | $ | 2,615,206 |  |   | $ | 2,326,491 |  |   | $ | 9,783 |  |   | $ | 253,662 |  |   | $ | 2,063,046 |  |

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|                                                                                                    |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                               | First Lien Secured Debt (2) | Second Lien Secured Debt (2) | Unsecured Debt | Structured Products and Other | Preferred Equity | Common Equity/Interests | Warrants | Total |
| Fair value as of June 30, 2017                                                                | $ | 1,125,840 |  | $ | 460,880 |  | $ | 146,642 |  | $ | 135,864 |  | $ | 25,755 |  | $ | 217,689 |  | $ | 82 |  | $ | 2,112,752 |  |
| Net realized gains (losses)                                                                        | (3,094 | ) | 48 |  | — |  | — |  | (4,409 | ) | (1 | ) | — |  | (7,456 | ) |
| Net change in unrealized gains (losses)                                                            | 14,461 |  | (540 | ) | 92 |  | (2,731 | ) | 4,433 |  | (2,250 | ) | 23 |  | 13,488 |  |
| Net amortization on investments                                                                    | 951 |  | 468 |  | — |  | 97 |  | — |  | — |  | — |  | 1,516 |  |
| Purchases, including capitalized PIK (3)                                                           | 116,792 |  | 119,469 |  | 337 |  | — |  | — |  | 1,238 |  | — |  | 237,836 |  |
| Sales (3)                                                                                          | (126,560 | ) | (36,862 | ) | (55,000 | ) | (8,962 | ) | — |  | (6,955 | ) | — |  | (234,339 | ) |
| Transfers out of Level 3 (1)                                                                       | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  |
| Transfers into Level 3 (1)                                                                         | — |  | 28,018 |  | — |  | — |  | — |  | — |  | — |  | 28,018 |  |
| Fair value as of September 30, 2017                                                           | $ | 1,128,390 |  | $ | 571,481 |  | $ | 92,071 |  | $ | 124,268 |  | $ | 25,779 |  | $ | 209,721 |  | $ | 105 |  | $ | 2,151,815 |  |
|                                                                                               |   |   |   |   |   |   |   |   |
| Net change in unrealized gains (losses) on Level 3 investments still held as of September 30, 2017 | $ | 8,275 |  | $ | (204 | ) | $ | 92 |  | $ | (2,731 | ) | $ | 25 |  | $ | (2,250 | ) | $ | 23 |  | $ | 3,230 |  |

|                                                                                                    |
|----------------------------------------------------------------------------------------------------|
|                                                                                                    |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                               | First Lien Secured Debt (2) | Second Lien Secured Debt (2) | Unsecured Debt | Structured Products and Other | Preferred Equity | Common Equity/Interests | Warrants | Total |
| Fair value as of March 31, 2017                                                               | $ | 1,049,232 |  | $ | 446,772 |  | $ | 146,218 |  | $ | 166,893 |  | $ | 25,637 |  | $ | 228,200 |  | $ | 94 |  | $ | 2,063,046 |  |
| Net realized gains (losses)                                                                        | (13,429 | ) | 48 |  | (338 | ) | — |  | (98,134 | ) | (81,834 | ) | (49,771 | ) | (243,458 | ) |
| Net change in unrealized gains (losses)                                                            | 39,126 |  | (4,013 | ) | 533 |  | (687 | ) | 98,276 |  | 69,771 |  | 49,782 |  | 252,788 |  |
| Net amortization on investments                                                                    | 1,755 |  | 1,144 |  | — |  | 189 |  | — |  | 35 |  | — |  | 3,123 |  |
| Purchases, including capitalized PIK (3)                                                           | 350,046 |  | 195,217 |  | 658 |  | — |  | — |  | 29,384 |  | — |  | 575,305 |  |
| Sales (3)                                                                                          | (298,340 | ) | (88,122 | ) | (55,000 | ) | (42,127 | ) | — |  | (35,835 | ) | — |  | (519,424 | ) |
| Transfers out of Level 3 (1)                                                                       | — |  | (19,600 | ) | — |  | — |  | — |  | — |  | — |  | (19,600 | ) |
| Transfers into Level 3 (1)                                                                         | — |  | 40,035 |  | — |  | — |  | — |  | — |  | — |  | 40,035 |  |
| Fair value as of September 30, 2017                                                           | $ | 1,128,390 |  | $ | 571,481 |  | $ | 92,071 |  | $ | 124,268 |  | $ | 25,779 |  | $ | 209,721 |  | $ | 105 |  | $ | 2,151,815 |  |
|                                                                                               |   |   |   |   |   |   |   |   |
| Net change in unrealized gains (losses) on Level 3 investments still held as of September 30, 2017 | $ | 9,921 |  | $ | (3,677 | ) | $ | 196 |  | $ | (770 | ) | $ | 143 |  | $ | (16,507 | ) | $ | 12 |  | $ | (10,682 | ) |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | Transfers out of Level 3 are due to an increase in the quantity and reliability of broker quotes obtained and transfers into Level 3 are due to a decrease in the quantity and reliability of broker quotes obtained as assessed by the Investment Adviser. Transfers are assumed to have occurred at the end of the period. There were no transfers between Level 1 and Level 2 fair value measurements during the period shown. |

|     |                                                                   |
|-----|-------------------------------------------------------------------|
| (2) | Includes unfunded commitments measured at fair value of $(2,610). |

|     |                                                            |
|-----|------------------------------------------------------------|
| (3) | Includes reorganizations and restructuring of investments. |

----

Table of Contents

|                                                                                                    |
|----------------------------------------------------------------------------------------------------|
|                                                                                                    |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                               | First Lien Secured Debt (2) | Second Lien Secured Debt | Unsecured Debt | Structured Products and Other | Preferred Equity | Common Equity/Interests | Warrants | Total |
| Fair value as of June 30, 2016                                                                | $ | 1,038,255 |  | $ | 458,719 |  | $ | 216,190 |  | $ | 305,400 |  | $ | 67,538 |  | $ | 299,274 |  | $ | — |  | $ | 2,385,376 |  |
| Net realized gains (losses)                                                                        | 4 |  | — |  | — |  | — |  | — |  | — |  | — |  | 4 |  |
| Net change in unrealized gains (losses)                                                            | 605 |  | 29,868 |  | (688 | ) | 23,014 |  | 172 |  | (16,726 | ) | (45,759 | ) | (9,514 | ) |
| Net amortization on investments                                                                    | 562 |  | 264 |  | 90 |  | 90 |  | — |  | 40 |  | — |  | 1,046 |  |
| Purchases, including capitalized PIK (3)                                                           | 71,025 |  | 28,112 |  | 630 |  | 16,301 |  | 199 |  | 40,631 |  | 48,171 |  | 205,069 |  |
| Sales (3)                                                                                          | (56,687 | ) | (160,842 | ) | — |  | (48,239 | ) | (307 | ) | (6,750 | ) | — |  | (272,825 | ) |
| Transfers out of Level 3 (1)                                                                       | — |  | (36,857 | ) | — |  | — |  | — |  | — |  | — |  | (36,857 | ) |
| Transfers into Level 3 (1)                                                                         | — |  | 19,476 |  | — |  | — |  | — |  | — |  | — |  | 19,476 |  |
| Fair value as of September 30, 2016                                                           | $ | 1,053,764 |  | $ | 338,740 |  | $ | 216,222 |  | $ | 296,566 |  | $ | 67,602 |  | $ | 316,469 |  | $ | 2,412 |  | $ | 2,291,775 |  |
|                                                                                               |   |   |   |   |   |   |   |   |
| Net change in unrealized gains (losses) on Level 3 investments still held as of September 30, 2016 | $ | (6,893 | ) | $ | (2,167 | ) | $ | (688 | ) | $ | 24,653 |  | $ | 172 |  | $ | (37,878 | ) | $ | (45,759 | ) | $ | (68,560 | ) |

|                                                                                                    |
|----------------------------------------------------------------------------------------------------|
|                                                                                                    |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                               | First Lien Secured Debt (2) | Second Lien Secured Debt | Unsecured Debt | Structured Products and Other | Preferred Equity | Common Equity/Interests | Warrants | Total |
| Fair value as of March 31, 2016                                                               | $ | 1,089,156 |  | $ | 491,488 |  | $ | 227,222 |  | $ | 319,530 |  | $ | 68,562 |  | $ | 356,940 |  | $ | — |  | $ | 2,552,898 |  |
| Net realized gains (losses)                                                                        | (33,446 | ) | — |  | — |  | (1,523 | ) | — |  | 47,285 |  | (2,374 | ) | 9,942 |  |
| Net change in unrealized gains (losses)                                                            | 12,878 |  | 15,381 |  | (4,673 | ) | 30,334 |  | (40 | ) | (130,453 | ) | (43,385 | ) | (119,958 | ) |
| Net amortization on investments                                                                    | 1,363 |  | 568 |  | 178 |  | 176 |  | — |  | 57 |  | — |  | 2,342 |  |
| Purchases, including capitalized PIK (3)                                                           | 129,554 |  | 37,702 |  | 909 |  | 27,571 |  | 403 |  | 112,162 |  | 48,171 |  | 356,472 |  |
| Sales (3)                                                                                          | (145,741 | ) | (225,875 | ) | (7,460 | ) | (79,522 | ) | (1,323 | ) | (69,522 | ) | — |  | (529,443 | ) |
| Transfers out of Level 3 (1)                                                                       | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  |
| Transfers into Level 3 (1)                                                                         | — |  | 19,476 |  | 46 |  | — |  | — |  | — |  | — |  | 19,522 |  |
| Fair value as of September 30, 2016                                                           | $ | 1,053,764 |  | $ | 338,740 |  | $ | 216,222 |  | $ | 296,566 |  | $ | 67,602 |  | $ | 316,469 |  | $ | 2,412 |  | $ | 2,291,775 |  |
|                                                                                               |   |   |   |   |   |   |   |   |
| Net change in unrealized gains (losses) on Level 3 investments still held as of September 30, 2016 | $ | (30,186 | ) | $ | (41,024 | ) | $ | (4,677 | ) | $ | 28,272 |  | $ | (40 | ) | $ | (85,429 | ) | $ | (45,759 | ) | $ | (178,843 | ) |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | Transfers out of Level 3 are due to an increase in the quantity and reliability of broker quotes obtained and transfers into Level 3 are due to a decrease in the quantity and reliability of broker quotes obtained as assessed by the Investment Adviser. Transfers are assumed to have occurred at the end of the period. There were no transfers between Level 1 and Level 2 fair value measurements during the period shown. |

|     |                                                                   |
|-----|-------------------------------------------------------------------|
| (2) | Includes unfunded commitments measured at fair value of $(2,700). |

|     |                                                            |
|-----|------------------------------------------------------------|
| (3) | Includes reorganizations and restructuring of investments. |

----

Table of Contents

|                               |
|-------------------------------|
|                               |  |  |  |  |  |  |  |  |
|                          |   | Quantitative Information about Level 3 Fair Value Measurements |
| Asset Category                | Fair Value | Valuation Techniques/Methodologies | Unobservable Input | Range | Weighted Average (1) |
| First Lien Secured Debt       | $ | 19,417 |  | Broker Quoted | Broker Quote | N/A | N/A | N/A |
|                          | 520,579 |  | Discounted Cash Flow | Discount Rate | 2.3% | 14.4% | 10.7% |
|                          | 34,388 |  | Recent Transaction | Recent Transaction | N/A | N/A | N/A |
|                          | 104,185 |  | Recovery Analysis | Commodity Price | $51.00 | $63.50 | $60.82 |
|                          | 49,544 |  | Recovery Analysis | Recoverable Amount | N/A | N/A | N/A |
|                          |   | Market Comparable Technique | Comparable Multiple | 4.5x | 4.5x | 4.5x |
|                          | 654 |  | Recovery Analysis | Recoverable Amount | N/A | N/A | N/A |
|                          |  | Yield Analysis | Discount Rate | 22.5% | 22.5% | 22.5% |
|                          | 399,623 |  | Yield Analysis | Discount Rate | 4.9% | 13.8% | 10.3% |
| Second Lien Secured Debt      | 103,535 |  | Broker Quoted | Broker Quote | N/A | N/A | N/A |
|                          | 8,179 |  | Market Comparable Technique | Comparable Multiple | 7.8x | 7.8x | 7.8x |
|                          | 33,345 |  | Recent Transaction | Recent Transaction | N/A | N/A | N/A |
|                          | 29,028 |  | Recovery Analysis | Commodity Price | $53.00 | $63.50 | $61.01 |
|                          | 397,394 |  | Yield Analysis | Discount Rate | 10.0% | 26.3% | 12.1% |
| Unsecured Debt                | 2,683 |  | Discounted Cash Flow | Discount Rate | 26.0% | 26.0% | 26.0% |
|                          | 89,387 |  | Yield Analysis | Discount Rate | 11.4% | 16.7% | 12.0% |
| Structured Products and Other | 124,269 |  | Discounted Cash Flow | Discount Rate | 8.9% | 15.0% | 10.8% |
| Preferred Equity              | 25,780 |  | Option Pricing Model | Expected Volatility | 41.0% | 41.0% | 41.0% |
| Common Equity/Interests       | 424 |  | Broker Quoted | Broker Quote | N/A | N/A | N/A |
|                          | 173,546 |  | Discounted Cash Flow | Discount Rate | 6.9% | 26.0% | 13.1% |
|                          | 6,240 |  | Market Comparable Technique | Comparable Multiple | 7.8x | 10.8x | 8.8x |
|                          | 29,510 |  | Recovery Analysis | Commodity Price | $51.00 | $63.50 | $60.65 |
| Warrants                      | 105 |  | Option Pricing Model | Expected Volatility | 60.0% | 60.0% | 60.0% |
| Total Level 3 Investments     | $ | 2,151,815 |  |   |   |   |   |   |

|     |                                                                                                                                                                                                                                                                                                                                                        |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | The weighted average information is generally derived by assigning each disclosed unobservable input a proportionate weight based on the fair value of the related investment. For the commodity price unobservable input, the weighted average price is an undiscounted price based upon the estimated production level from the underlying reserves. |

----

Table of Contents

|                               |
|-------------------------------|
|                               |  |  |  |  |  |  |  |  |
|                          |   | Quantitative Information about Level 3 Fair Value Measurements |
| Asset Category                | Fair Value | Valuation Techniques/Methodologies | Unobservable Input | Range | Weighted Average (1) |
| First Lien Secured Debt       | $ | (896 | ) | Broker Quoted | Broker Quote | N/A | N/A | N/A |
|                          | 493,509 |  | Discounted Cash Flow | Discount Rate | 2.3% | 14.3% | 10.6% |
|                          | 17,063 |  | Recent Transaction | Recent Transaction | N/A | N/A | N/A |
|                          | 105,851 |  | Recovery Analysis | Commodity Price | $54.00 | $66.00 | $64.88 |
|                          | 50,585 |  | Recovery Analysis | Recoverable Amount | N/A | N/A | N/A |
|                          |   | Market Comparable Approach | Comparable Multiple | 4.5x | 4.5x | 4.5x |
|                          | 705 |  | Yield Analysis | Discount Rate | 22.5% | 22.5% | 22.5% |
|                          |   | Recovery Analysis | Recoverable Amount | N/A | N/A | N/A |
|                          | 382,415 |  | Yield Analysis | Discount Rate | 4.9% | 17.5% | 11.5% |
| Second Lien Secured Debt      | 139,546 |  | Broker Quoted | Broker Quote | N/A | N/A | N/A |
|                          | 9,296 |  | Market Comparable Approach | Comparable Multiple | 7.8x | 7.8x | 7.8x |
|                          | 7,800 |  | Recent Transaction | Recent Transaction | N/A | N/A | N/A |
|                          | 27,618 |  | Recovery Analysis | Commodity Price | $54.00 | $66.00 | $61.64 |
|                          | 262,512 |  | Yield Analysis | Discount Rate | 10.2% | 21.1% | 12.1% |
| Unsecured Debt                | 2,501 |  | Discounted Cash Flow | Discount Rate | 21.1% | 21.1% | 21.1% |
|                          | 143,717 |  | Yield Analysis | Discount Rate | 10.5% | 16.1% | 10.8% |
| Structured Products and Other | 134,268 |  | Discounted Cash Flow | Discount Rate | 10.0% | 15.0% | 11.3% |
|                          | 32,625 |  | Recent Transaction | Recent Transaction | N/A | N/A | N/A |
| Preferred Equity              | 25,637 |  | Option Pricing Model | Expected Volatility | 52.0% | 52.0% | 52.0% |
| Common Equity/Interests       | 231 |  | Broker Quoted | Broker Quote | N/A | N/A | N/A |
|                          | 178,591 |  | Discounted Cash Flow | Discount Rate | 6.0% | 21.1% | 12.7% |
|                          | 6,230 |  | Market Comparable Approach | Comparable Multiple | 3.9x | 12.1x | 9.3x |
|                          | 24,285 |  | Proposed Transaction | Proposed Transaction | N/A | N/A | N/A |
|                          | 18,863 |  | Recovery Analysis | Commodity Price | $54.00 | $66.00 | 61.6x |
| Warrants                      | 94 |  | Option Pricing Model | Expected Volatility | 60.0% | 60.0% | 60.0% |
| Total Level 3 Investments     | $ | 2,063,046 |  |   |   |   |   |   |

|     |                                                                                                                                                                                                                                                                                                                                                        |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | The weighted average information is generally derived by assigning each disclosed unobservable input a proportionate weight based on the fair value of the related investment. For the commodity price unobservable input, the weighted average price is an undiscounted price based upon the estimated production level from the underlying reserves. |

----

Table of Contents

|                                                      |
|------------------------------------------------------|
|                                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                 | Three Months Ended September 30, |   | Six Months Ended September 30, |
|                                                 | 2017 |   | 2016 |   | 2017 |   | 2016 |
| PIK balance at beginning of period                   | $ | 19,970 |  |   | $ | 75,708 |  |   | $ | 53,262 |  |   | $ | 73,409 |  |
| PIK income capitalized                               | 7,726 |  |   | 17,594 |  |   | 10,501 |  |   | 21,147 |  |
| Adjustments due to investments exited or written off | — |  |   | — |  |   | (35,697 | ) |   | — |  |
| PIK income received in cash                          | — |  |   | (29 | ) |   | (370 | ) |   | (1,283 | ) |
| PIK balance at end of period                         | $ | 27,696 |  |   | $ | 93,273 |  |   | $ | 27,696 |  |   | $ | 93,273 |  |

----

Table of Contents

|                       |
|-----------------------|
|                       |  |  |  |  |  |  |  |
|                  | Six Months Ended September 30, |
|                  | 2017 |   | 2016 |
| Net revenue           | $ | 63,807 |  |   | $ | 64,389 |  |
| Net operating income  | 40,927 |  |   | 38,789 |  |
| Earnings before taxes | 22,971 |  |   | 5,832 |  |
| Net profit            | 22,870 |  |   | 5,524 |  |

----

Table of Contents

|                       |
|-----------------------|
|                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                  | September 30, 2017 |
| Underlying Risk Type  | Base Notional Assets |   | Derivative Assets Fair Value |   | Base Notional Liabilities |   | Derivative Liabilities Fair Value |
| Commodity:            |   |   |   |   |   |   |   |
| Purchased Put Options | $ | 89,100 |  |   | $ | 4,020 |  |   | $ | — |  |   | $ | — |  |
| Written Call Options  | — |  |   | — |  |   | (108,207 | ) |   | 5,877 |  |

|                                                     |
|-----------------------------------------------------|
|                                                     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                | Three Months Ended September 30, |   | Six Months Ended September 30, |
|                                                | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Net Change in Unrealized Losses on Option Contracts |   |   |   |   |   |   |   |
| Purchased Put Options                               | $ | (1,037 | ) |   | $ | — |  |   | $ | (1,037 | ) |   | $ | — |  |
| Written Call Options                                | (836 | ) |   | — |  |   | (836 | ) |   | — |  |
| Net Change in Unrealized Losses on Option Contracts | $ | (1,873 | ) |   | $ | — |  |   | $ | (1,873 | ) |   | $ | — |  |

|                                         |
|-----------------------------------------|
|                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                    | Three Months Ended September 30, |   | Six Months Ended September 30, |
|                                    | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Net Realized Losses on Option Contracts |   |   |   |   |   |   |   |
| Written Call Options                    | $ | (5 | ) |   | $ | — |  |   | $ | (5 | ) |   | $ | — |  |
| Net Realized Losses on Option Contracts | $ | (5 | ) |   | $ | — |  |   | $ | (5 | ) |   | $ | — |  |

----

Table of Contents

|                       |
|-----------------------|
|                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Counterparty          |   | Account in the Statements of Assets and Liabilities |   | Gross Amounts Presented in the Statements of Assets and Liabilities |   | Financial Instruments not offset in the Statements of Assets and Liabilities |   | Cash Collateral Paid (1) |   | Net Amounts |
| CME Group:            |   |   |   |   |   |   |   |   |   |   |
| Purchased Put Options |   | Option Contracts (Assets) |   | $ | 4,020 |  |   | $ | (4,020 | ) |   | $ | — |  |   | $ | — |  |
| Written Call Options  |   | Option Contracts (Liabilities) |   | (5,877 | ) |   | 4,020 |  |   | 1,857 |  |   | — |  |

|     |                                                                                                                         |
|-----|-------------------------------------------------------------------------------------------------------------------------|
| (1) | Per GAAP disclosure requirements, the table above does not include excess cash collateral paid in the amount of $4,213. |

|                                                                          |
|--------------------------------------------------------------------------|
|                                                                          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                     | Date Issued/Amended |   | Total Aggregate Principal Amount Committed |   | Principal Amount Outstanding |   | Fair Value |   | Final Maturity Date |
| Senior Secured Facility                                                  | 12/22/2016 |   | $ | 1,190,000 |  |   | $ | 216,675 | * |   | $ | 221,287 |  | (1) | 12/22/2021 |
| Senior Secured Notes (Series B)                                          | 9/29/2011 |   | 16,000 |  |   | 16,000 |  |   | 16,404 |  | (1) | 9/29/2018 |
| 2042 Notes (2)                                                           | 10/9/2012 |   | 150,000 |  |   | 150,000 |  |   | 150,000 |  | (2) | 10/15/2042 |
| 2043 Notes                                                               | 6/17/2013 |   | 150,000 |  |   | 150,000 |  |   | 157,080 |  | (2) | 7/15/2043 |
| 2025 Notes                                                               | 3/3/2015 |   | 350,000 |  |   | 350,000 |  |   | 358,962 |  | (3) | 3/3/2025 |
| Total Debt Obligations                                                   |   |   | $ | 1,856,000 |  |   | $ | 882,675 |  |   | $ | 903,733 |  |   |   |
| Deferred Financing Cost and Debt Discount                                |   |   |   | $ | (17,769 | ) |   |   |   |   |
| Total Debt Obligations, net of Deferred Financing Cost and Debt Discount |   |   |   | $ | 864,906 |  |   |   |   |   |

|   |                                                                                                                            |
|---|----------------------------------------------------------------------------------------------------------------------------|
| * | Includes foreign currency debt obligations as outlined in Foreign Currency Transactions and Translations within this note. |

|     |                                                                                                                                                                                                                                                   |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | The fair value of these debt obligations would be categorized as Level 3 under ASC 820 as of September 30, 2017. The valuation is based on a yield analysis and discount rate commensurate with the market yields for similar types of debt. |

|     |                                                                                                                                                                                                           |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | The fair value of these debt obligations would be categorized as Level 1 under ASC 820 as of September 30, 2017. The valuation is based on quoted prices of identical liabilities in active markets. |

|     |                                                                                                                                                                       |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3) | The fair value of these debt obligations would be categorized as Level 2 under ASC 820 as of September 30, 2017. The valuation is based on broker quoted prices. |

----

Table of Contents

|                                                                          |
|--------------------------------------------------------------------------|
|                                                                          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                     | Date Issued/Amended |   | Total Aggregate Principal Amount Committed |   | Principal Amount Outstanding |   | Fair Value |   | Final Maturity Date |
| Senior Secured Facility                                                  | 12/22/2016 |   | $ | 1,140,000 |  |   | $ | 200,923 | * |   | $ | 200,873 |  | (1) | 12/22/2021 |
| Senior Secured Notes (Series B)                                          | 9/29/2011 |   | 16,000 |  |   | 16,000 |  |   | 16,523 |  | (1) | 9/29/2018 |
| 2042 Notes                                                               | 10/9/2012 |   | 150,000 |  |   | 150,000 |  |   | 152,160 |  | (2) | 10/15/2042 |
| 2043 Notes                                                               | 6/17/2013 |   | 150,000 |  |   | 150,000 |  |   | 156,180 |  | (2) | 7/15/2043 |
| 2025 Notes                                                               | 3/3/2015 |   | 350,000 |  |   | 350,000 |  |   | 367,556 |  | (1) | 3/3/2025 |
| Total Debt Obligations                                                   |   |   | $ | 1,806,000 |  |   | $ | 866,923 |  |   | $ | 893,292 |  |   |   |
| Deferred Financing Cost and Debt Discount                                |   |   |   | $ | (18,474 | ) |   |   |   |   |
| Total Debt Obligations, net of Deferred Financing Cost and Debt Discount |   |   |   | $ | 848,449 |  |   |   |   |   |

|   |                                                                                                                            |
|---|----------------------------------------------------------------------------------------------------------------------------|
| * | Includes foreign currency debt obligations as outlined in Foreign Currency Transactions and Translations within this note. |

|     |                                                                                                                                                                                                                                               |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | The fair value of these debt obligations would be categorized as Level 3 under ASC 820 as of March 31, 2017. The valuation is based on a yield analysis and discount rate commensurate with the market yields for similar types of debt. |

|     |                                                                                                                                                                                                       |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | The fair value of these debt obligations would be categorized as Level 1 under ASC 820 as of March 31, 2017. The valuation is based on quoted prices of identical liabilities in active markets. |

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Table of Contents

|                                               |
|-----------------------------------------------|
|                                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                          | Three Months Ended September 30, |   | Six Months Ended September 30, |
|                                          | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Average debt outstanding                      | $ | 894,556 |  |   | $ | 1,029,829 |  |   | $ | 932,975 |  |   | $ | 1,131,167 |  |
| Maximum amount of debt outstanding            | 945,065 |  |   | 1,143,694 |  |   | 1,056,929 |  |   | 1,363,553 |  |
|                                          |   |   |   |   |   |   |   |
| Weighted average annualized interest cost (1) | 5.51 | % |   | 5.21 | % |   | 5.44 | % |   | 4.96 | % |
| Annualized amortized debt issuance cost       | 0.60 | % |   | 0.48 | % |   | 0.58 | % |   | 0.58 | % |
| Total annualized interest cost                | 6.11 | % |   | 5.69 | % |   | 6.02 | % |   | 5.54 | % |

|     |                                                                                                                                                                                                                                                                                                                                                    |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | Includes the stated interest expense and commitment fees on the unused portion of the Senior Secured Facility. Commitment fees for the three and six months ended September 30, 2017 were $861 and $1,620, respectively. Commitment fees for the three and six months ended September 30, 2016 were $900 and $1,597, respectively. |

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|                 |
|-----------------|
|                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|            | Original Principal Amount (Local) |   | Original Principal Amount (USD) |   | Principal Amount Outstanding |   | Unrealized Gain/(Loss) |   | Reset Date |
| Canadian Dollar | C$ | 2,300 |  |   | $ | 1,894 |  |   | $ | 1,839 |  |   | $ | 55 |  |   | 10/12/2017 |
| Euro            | € | 14,000 |  |   | 15,129 |  |   | 16,551 |  |   | (1,422 | ) |   | 10/10/2017 |
| Euro            | € | 12,500 |  |   | 13,506 |  |   | 14,778 |  |   | (1,272 | ) |   | 10/23/2017 |
| British Pound   | £ | 4,600 |  |   | 6,094 |  |   | 6,172 |  |   | (78 | ) |   | 10/11/2017 |
| British Pound   | £ | 98,500 |  |   | 149,390 |  |   | 132,153 |  |   | 17,237 |  |   | 10/30/2017 |
|            |   |   | $ | 186,013 |  |   | $ | 171,493 |  |   | $ | 14,520 |  |   |   |

|                 |
|-----------------|
|                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|            | Original Principal Amount (Local) |   | Original Principal Amount (USD) |   | Principal Amount Outstanding |   | Unrealized Gain |   | Reset Date |
| Canadian Dollar | C$ | 33,000 |  |   | $ | 29,721 |  |   | $ | 24,744 |  |   | $ | 4,977 |  |   | 4/28/2017 |
| Euro            | € | 14,000 |  |   | 15,129 |  |   | 14,974 |  |   | 155 |  |   | 4/3/2017 |
| Euro            | € | 13,000 |  |   | 14,046 |  |   | 13,904 |  |   | 142 |  |   | 4/18/2017 |
| British Pound   | £ | 8,700 |  |   | 13,319 |  |   | 10,879 |  |   | 2,440 |  |   | 4/21/2017 |
| British Pound   | £ | 100,500 |  |   | 152,658 |  |   | 125,670 |  |   | 26,988 |  |   | 4/28/2017 |
| British Pound   | £ | 3,800 |  |   | 5,058 |  |   | 4,752 |  |   | 306 |  |   | 4/6/2017 |
|            |   |   | $ | 229,931 |  |   | $ | 194,923 |  |   | $ | 35,008 |  |   |   |

|                                |
|--------------------------------|
|                                |  |  |  |  |  |  |  |  |  |  |  |  |
| Date of Adoption               |   | Maximum Cost of Shares That May Be Repurchased |   | Cost of Shares Repurchased |   | Remaining Cost of Shares That May Be Repurchased |
| August 6, 2015                 |   | $ | 50,000 |  |   | $ | 50,000 |  |   | $ | — |  |
| December 14, 2015              |   | 50,000 |  |   | 50,000 |  |   | — |  |
| September 14, 2016             |   | 50,000 |  |   | 4,312 |  |   | 45,688 |  |
| Total as of September 30, 2017 |   | $ | 150,000 |  |   | $ | 104,312 |  |   | $ | 45,688 |  |

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|                    |
|--------------------|
|                    |  |  |  |  |  |  |
| Effective Date     |   | Termination Date |   | Amount Allocated to 10b5-1 Repurchase Plans |
| September 15, 2015 |   | November 5, 2015 |   | $ | 5,000 |  |
| January 1, 2016    |   | February 5, 2016 |   | 10,000 |  |
| April 1, 2016      |   | May 19, 2016 |   | 5,000 |  |
| July 1, 2016       |   | August 5, 2016 |   | 15,000 |  |
| September 30, 2016 |   | November 8, 2016 |   | 20,000 |  |
| January 4, 2017    |   | February 6, 2017 |   | 10,000 |  |
| March 31, 2017     |   | May 19, 2017 |   | 10,000 |  |
| June 30, 2017      |   | August 7, 2017 |   | 10,000 |  |
| October 2, 2017    |   | November 6, 2017 |   | 10,000 |  |

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|                                                                             |
|-----------------------------------------------------------------------------|
|                                                                             |  |  |  |  |  |  |  |
|                                                                        | September 30, 2017 |   | March 31, 2017 |
| Unfunded revolver obligations and bridge loan commitments (1)               | $ | 111,907 |  |   | $ | 227,906 |  |
| Standby letters of credit issued and outstanding (2)                        | 15,595 |  |   | 14,203 |  |
| Unfunded delayed draw loan commitments (3)                                  | 2,851 |  |   | 28,649 |  |
| Unfunded delayed draw loan commitments (performance thresholds not met) (4) | 20,012 |  |   | 30,678 |  |
| Total Unfunded Commitments                                                  | $ | 150,365 |  |   | $ | 301,436 |  |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | The unfunded revolver obligations may or may not be funded to the borrowing party in the future. The amounts relate to loans with various maturity dates, but the entire amount was eligible for funding to the borrowers as of September 30, 2017 and March 31, 2017, subject to the terms of each loan’s respective credit agreements which includes borrowing covenants that need to be met prior to funding. As of September 30, 2017 and March 31, 2017, the bridge loan commitments included in the balances were $0 and $137,962, respectively. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | For all these letters of credit issued and outstanding, the Company would be required to make payments to third parties if the portfolio companies were to default on their related payment obligations. None of the letters of credit issued and outstanding are recorded as a liability on the Company’s Statements of Assets and Liabilities as such letters of credit are considered in the valuation of the investments in the portfolio company. |

|     |                                                                                                                                                                                                                                                           |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3) | The Company’s commitment to fund delayed draw loans is triggered upon the satisfaction of certain pre-negotiated terms and conditions which can include covenants to maintain specified leverage levels and other related borrowing base covenants. |

|     |                                                                                                                                                                                                                                       |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (4) | The borrowers are required to meet certain performance thresholds before the Company is obligated to fulfill the commitments and those performance thresholds were not met as of September 30, 2017 and March 31, 2017. |

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|                                                                                |
|--------------------------------------------------------------------------------|
|                                                                                |  |  |  |  |  |  |  |
|                                                                           | Six Months Ended September 30, 2017 |   | Year Ended March 31, 2017 |
|                                                                           | (Unaudited) |   |   |
| Per Share Data*                                                                |   |   |   |
| Net asset value at beginning of period                                         | $ | 6.74 |  |   | $ | 7.28 |  |
| Net investment income (1)                                                      | 0.31 |  |   | 0.67 |  |
| Net realized and change in unrealized losses (1)                               | (0.03 | ) |   | (0.59 | ) |
| Net increase in net assets resulting from operations                           | 0.28 |  |   | 0.08 |  |
| Distribution of net investment income (2)                                      | (0.30 | ) |   | (0.65 | ) |
| Distribution of return of capital (2)                                          | — |  |   | — |  |
| Accretion due to share repurchases                                             | 0.00 |  |   | 0.04 |  |
| Net asset value at end of period                                               | $ | 6.72 |  |   | $ | 6.74 |  |
|                                                                           |   |   |   |
| Per share market value at end of period                                        | $ | 6.11 |  |   | $ | 6.56 |  |
| Total return (3)                                                               | (2.37 | )% |   | 31.44 | % |
| Shares outstanding at end of period                                            | 219,034,354 |  |   | 219,694,654 |  |
| Weighted average shares outstanding                                            | 219,606,751 |  |   | 222,415,073 |  |
|                                                                           |   |   |   |
| Ratio/Supplemental Data                                                        |   |   |   |
| Net assets at end of period (in millions)                                      | $ | 1,472.6 |  |   | $ | 1,481.8 |  |
| Annualized ratio of operating expenses to average net assets (4)(5)            | 5.09 |  % |   | 4.59 | % |
| Annualized ratio of interest and other debt expenses to average net assets (5) | 3.78 |  % |   | 3.86 | % |
| Annualized ratio of total expenses to average net assets (4)(5)                | 8.87 |  % |   | 8.45 | % |
| Annualized ratio of net investment income to average net assets (5)            | 9.11 |  % |   | 9.66 | % |
| Average debt outstanding (in millions)                                         | $ | 933.0 |  |   | $ | 1,048.7 |  |
| Average debt per share                                                         | $ | 4.25 |  |   | $ | 4.71 |  |
| Annualized portfolio turnover rate (5)                                         | 50.09 |  % |   | 23.25 | % |
| Asset coverage per unit (6)                                                    | $ | 2,668 |  |   | $ | 2,709 |  |

|   |                                      |
|---|--------------------------------------|
| * | Totals may not foot due to rounding. |

|     |                                                                                                               |
|-----|---------------------------------------------------------------------------------------------------------------|
| (1) | Financial highlights are based on the weighted average number of shares outstanding for the period presented. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | The tax character of distributions are determined based on taxable income calculated in accordance with income tax regulations which may differ from amounts determined under GAAP. Although the tax character of distributions paid to stockholders through September 30, 2017 may include return of capital, the exact amount cannot be determined at this point. Per share amounts are based on actual rate per share. |

|     |                                                                                                                                                                                                                                        |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3) | Total return is based on the change in market price per share during the respective periods. Total return also takes into account distributions, if any, reinvested in accordance with the Company’s dividend reinvestment plan. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (4) | The ratio of operating expenses to average net assets and the ratio of total expenses to average net assets are shown inclusive of all voluntary management and incentive fee waivers (Note 3). For the six months ended September 30, 2017, the annualized ratio of operating expenses to average net assets and the annualized ratio of total expenses to average net assets would be 6.47% and 10.25%, respectively, without the voluntary fee waivers. For the fiscal year ended March 31, 2017, the ratio of operating expenses to average net assets and the ratio of total expenses to average net assets would be 5.98% and 9.85%, respectively, without the voluntary fee waivers. |

|     |                                                              |
|-----|--------------------------------------------------------------|
| (5) | Annualized for the six months ended September 30, 2017. |

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|     |                                                                                                                                                                                                                                                                                                                                                              |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (6) | The asset coverage ratio for a class of senior securities representing indebtedness is calculated as our total assets, less all liabilities and indebtedness not represented by senior securities, divided by senior securities representing indebtedness. This asset coverage ratio is multiplied by one thousand to determine the Asset Coverage Per Unit. |

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|         |                               |
|---------|-------------------------------|
| • | our future operating results; |

|         |                                                                      |
|---------|----------------------------------------------------------------------|
| • | our business prospects and the prospects of our portfolio companies; |

|         |                                                   |
|---------|---------------------------------------------------|
| • | the impact of investments that we expect to make; |

|         |                                                                    |
|---------|--------------------------------------------------------------------|
| • | our contractual arrangements and relationships with third parties; |

|         |                                                                                                                  |
|---------|------------------------------------------------------------------------------------------------------------------|
| • | the dependence of our future success on the general economy and its impact on the industries in which we invest; |

|         |                                                                     |
|---------|---------------------------------------------------------------------|
| • | the ability of our portfolio companies to achieve their objectives; |

|         |                                          |
|---------|------------------------------------------|
| • | our expected financings and investments; |

|         |                                                             |
|---------|-------------------------------------------------------------|
| • | the adequacy of our cash resources and working capital; and |

|         |                                                                                   |
|---------|-----------------------------------------------------------------------------------|
| • | the timing of cash flows, if any, from the operations of our portfolio companies. |

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|         |                                          |
|---------|------------------------------------------|
| • | investment advisory and management fees; |

|         |                                                                                                                                                                                                                                                          |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | expenses incurred by AIM payable to third parties, including agents, consultants or other advisors, in monitoring our financial and legal affairs and in monitoring our investments and performing due diligence on our prospective portfolio companies; |

|         |                                                                                                         |
|---------|---------------------------------------------------------------------------------------------------------|
| • | calculation of our net asset value (including the cost and expenses of any independent valuation firm); |

|         |                                                                                                                  |
|---------|------------------------------------------------------------------------------------------------------------------|
| • | direct costs and expenses of administration, including independent registered public accounting and legal costs; |

|         |                                                                        |
|---------|------------------------------------------------------------------------|
| • | costs of preparing and filing reports or other documents with the SEC; |

|         |                                                                        |
|---------|------------------------------------------------------------------------|
| • | interest payable on debt, if any, incurred to finance our investments; |

|         |                                                     |
|---------|-----------------------------------------------------|
| • | offerings of our common stock and other securities; |

|         |                                |
|---------|--------------------------------|
| • | registration and listing fees; |

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|         |                                                                                                                                                     |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------|
| • | fees payable to third parties, including agents, consultants or other advisors, relating to, or associated with, evaluating and making investments; |

|         |                                    |
|---------|------------------------------------|
| • | transfer agent and custodial fees; |

|         |        |
|---------|--------|
| • | taxes; |

|         |                                                 |
|---------|-------------------------------------------------|
| • | independent directors’ fees and expenses; |

|         |                                              |
|---------|----------------------------------------------|
| • | marketing and distribution-related expenses; |

|         |                                                                                                                    |
|---------|--------------------------------------------------------------------------------------------------------------------|
| • | the costs of any reports, proxy statements or other notices to stockholders, including printing and postage costs; |

|         |                                                                                                                                                |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------|
| • | our allocable portion of the fidelity bond, directors and officers/errors and omissions liability insurance, and any other insurance premiums; |

|         |                           |
|---------|---------------------------|
| • | organizational costs; and |

|         |                                                                                                                                                                                                                                                                                                                                                                               |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | all other expenses incurred by us or the Administrator in connection with administering our business, such as our allocable portion of overhead under the administration agreement, including rent and our allocable portion of the cost of our Chief Financial Officer, Chief Compliance Officer, Chief Legal Officer, Chief Accounting Officer and their respective staffs. |

|                                                            |
|------------------------------------------------------------|
|                                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                            | Three Months Ended September 30, |  | Six Months Ended September 30, |
| (in millions)*                                             | 2017 |  | 2016 |  | 2017 |  | 2016 |
| Investments made in portfolio companies                    | $ | 265.4 |  |  | $ | 127.6 |  |  | $ | 607.5 |  |  | $ | 250.4 |  |
| Investments sold                                           | (11.7 | ) |  | (17.9 | ) |  | (21.7 | ) |  | (164.0 | ) |
| Net activity before repaid investments                     | 253.7 |  |  | 109.7 |  |  | 585.8 |  |  | 86.4 |  |
| Investments repaid                                         | (328.1 | ) |  | (197.1 | ) |  | (570.1 | ) |  | (390.5 | ) |
| Net investment activity                                    | $ | (74.4 | ) |  | $ | (87.4 | ) |  | $ | 15.7 |  |  | $ | (304.1 | ) |
|                                                            |  |  |  |  |  |  |  |
| Portfolio companies at beginning of period                 | 84 |  |  | 81 |  |  | 86 |  |  | 89 |  |
| Number of new portfolio companies                          | 12 |  |  | 6 |  |  | 23 |  |  | 11 |  |
| Number of exited portfolio companies                       | (9 | ) |  | (5 | ) |  | (22 | ) |  | (18 | ) |
| Portfolio companies at end of period                       | 87 |  |  | 82 |  |  | 87 |  |  | 82 |  |
|                                                            |  |  |  |  |  |  |  |
| Number of investments made in existing portfolio companies | 11 |  |  | 10 |  |  | 16 |  |  | 22 |  |

|   |                                      |
|---|--------------------------------------|
| * | Totals may not foot due to rounding. |

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|                                                                                                 |
|-------------------------------------------------------------------------------------------------|
|                                                                                                 |  |  |  |  |  |  |  |
|                                                                                            | September 30, 2017 |   | March 31, 2017 |
| Portfolio composition, at fair value:                                                           |   |   |   |
| Secured debt                                                                                    | 80 | % |   | 75 | % |
| Unsecured debt                                                                                  | 5 | % |   | 7 | % |
| Structured products and other                                                                   | 5 | % |   | 7 | % |
| Preferred equity                                                                                | 1 | % |   | 1 | % |
| Common equity/interests and warrants                                                            | 9 | % |   | 10 | % |
| Weighted average yields, at amortized cost, exclusive of investments on non-accrual status (1): |   |   |   |
| Secured debt portfolio                                                                          | 10.3 | % |   | 10.2 | % |
| Unsecured debt portfolio                                                                        | 11.2 | % |   | 11.1 | % |
| Total debt portfolio                                                                            | 10.3 | % |   | 10.3 | % |
| Interest rate type, at fair value (2):                                                          |   |   |   |
| Fixed rate amount                                                                               |  | $0.1 |  billion |   |  | $0.2 |  billion |
| Floating rate amount                                                                            |  | $1.2 |  billion |   |  | $1.1 |  billion |
| Fixed rate, as percentage of total                                                              | 9 | % |   | 16 | % |
| Floating rate, as percentage of total                                                           | 91 | % |   | 84 | % |
| Interest rate type, at amortized cost (2):                                                      |   |   |   |
| Fixed rate amount                                                                               |  | $0.1 |  billion |   |  | $0.2 |  billion |
| Floating rate amount                                                                            |  | $1.2 |  billion |   |  | $1.0 |  billion |
| Fixed rate, as percentage of total                                                              | 9 | % |   | 17 | % |
| Floating rate, as percentage of total                                                           | 91 | % |   | 83 | % |

|     |                                                                                                        |
|-----|--------------------------------------------------------------------------------------------------------|
| (1) | An investor’s yield may be lower than the portfolio yield due to sales loads and other expenses. |

|     |                                                                                                                                                                                                                                |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | The interest type information is calculated using the Company’s corporate debt portfolio and excludes aviation, oil and gas, structured credit, renewables, shipping, commodities and investments on non-accrual status. |

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Table of Contents

|    |                                                                                                                                                                                             |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 1. | Our quarterly valuation process begins with each investment being initially valued by the investment professionals of our Investment Adviser who are responsible for the portfolio company. |

|    |                                                                                                                       |
|----|-----------------------------------------------------------------------------------------------------------------------|
| 2. | Preliminary valuation conclusions are then documented and discussed with senior management of our Investment Adviser. |

|    |                                                                                                                                                                                                                          |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3. | Independent valuation firms are engaged by our Board of Directors to conduct independent appraisals by reviewing our Investment Adviser’s preliminary valuations and then making their own independent assessment. |

|    |                                                                                                                                                                                                                                                                         |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4. | The Audit Committee of the Board of Directors reviews the preliminary valuation of our Investment Adviser and the valuation prepared by the independent valuation firms and responds, if warranted, to the valuation recommendation of the independent valuation firms. |

|    |                                                                                                                                                                                                                                                                         |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 5. | The Board of Directors discusses valuations and determines in good faith the fair value of each investment in our portfolio based on the input of our Investment Adviser, the applicable independent valuation firm, and the Audit Committee of the Board of Directors. |

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----

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|                                                                        |
|------------------------------------------------------------------------|
|                                                                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                        | Three Months Ended September 30, |  | Six Months Ended September 30, |
| (in millions)*                                                         | 2017 |  | 2016 |  | 2017 |  | 2016 |
| Investment income                                                      |  |  |  |  |  |  |  |  |  |  |  |
| Interest income (excluding Payment-in-kind interest income)            | $ | 53.6 |  |  | $ | 54.2 |  |  | $ | 107.7 |  |  | $ | 113.9 |  |
| Dividend income                                                        | 4.3 |  |  | 8.5 |  |  | 10.2 |  |  | 17.3 |  |
| PIK interest income                                                    | 6.0 |  |   | 6.0 |  |   | 11.8 |  |   | 12.1 |  |
| Other income                                                           | 2.6 |  |  | 0.3 |  |  | 3.5 |  |  | 2.1 |  |
| Total investment income                                                | $ | 66.5 |  |  | $ | 69.0 |  |  | $ | 133.2 |  |  | $ | 145.5 |  |
| Expenses                                                               |  |  |  |  |  |  |  |
| Management and performance-based incentive fees, net of amounts waived | $ | 15.2 |  |  | $ | 9.9 |  |  | $ | 30.3 |  |  | $ | 27.1 |  |
| Interest and other debt expenses, net of reimbursements                | 13.8 |  |  | 14.4 |  |  | 28.0 |  |  | 31.2 |  |
| Administrative services expense, net of reimbursements                 | 1.6 |  |  | 2.6 |  |  | 3.2 |  |  | 4.0 |  |
| Other general and administrative expenses                              | 1.6 |  |  | 2.6 |  |  | 4.2 |  |  | 7.6 |  |
| Net expenses                                                           | $ | 32.3 |  |  | $ | 29.5 |  |  | $ | 65.7 |  |  | $ | 69.9 |  |
| Net investment income                                                  | $ | 34.2 |  |  | $ | 39.5 |  |  | $ | 67.5 |  |  | $ | 75.6 |  |
| Net realized and change in unrealized gains (losses)                   |  |  |  |  |  |  |  |  |  |  |  |
| Net realized gains (losses)                                            | $ | (3.6 | ) |  | $ | (3.0 | ) |  | $ | (237.4 | ) |  | $ | 5.5 |  |
| Net change in unrealized gains (losses)                                | 1.2 |  |  | 4.6 |  |  | 230.5 |  |  | (82.1 | ) |
| Net realized and change in unrealized gains (losses)                   | (2.4 | ) |  | 1.6 |  |  | (6.9 | ) |  | (76.6 | ) |
| Net increase (decrease) in net assets resulting from operations        | $ | 31.8 |  |  | $ | 41.1 |  |  | $ | 60.6 |  |  | $ | (1.0 | ) |
|                                                                        |  |  |  |  |  |  |  |
| Net investment income on per average share basis                       | $ | 0.16 |  |  | $ | 0.18 |  |  | $ | 0.31 |  |  | $ | 0.34 |  |
| Earnings (loss) per share                                              | $ | 0.14 |  |  | $ | 0.18 |  |  | $ | 0.28 |  |  | $ | 0.00 |  |

|   |                                      |
|---|--------------------------------------|
| * | Totals may not foot due to rounding. |

----

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|                              |
|------------------------------|
|                              |  |  |  |
| (in millions)                | Net Realized Gain (Loss) |   |
| Asurion Corporation          | 0.2 |  |   |
| Sungevity Inc.               | (4.4 | ) | * |
| SCM Insurance Services, Inc. | (3.1 | ) | * |

----

Table of Contents

|                                          |
|------------------------------------------|
|                                          |  |  |  |
| (in millions)                            | Net Realized Loss |
| Aventine Renewable Energy Holdings, Inc. | $ | (2.9 | ) |
| River Cree Enterprises LP                | (0.8 | ) |

|                                    |
|------------------------------------|
|                                    |  |  |  |  |
| (in millions)                      | Net Realized Gain (Loss) |   |
| Renew JV LLC                       | $ | 4.0 |  |   |
| Venoco, Inc.                       | (89.0 | ) | * |
| Delta Career Education Corporation | (72.8 | ) | * |
| AIC SPV Holdings I, LLC            | (44.3 | ) | * |
| LVI Group Investments, LLC         | (17.5 | ) | * |
| Magnetation, LLC                   | (10.4 | ) | * |
| Clothesline Holdings, Inc.         | (6.0 | ) | * |
| Sungevity Inc.                     | (4.4 | ) | * |
| SCM Insurance Services, Inc.       | (3.1 | ) | * |

|                                           |
|-------------------------------------------|
|                                           |  |  |  |
| (in millions)                             | Net Realized Gain (Loss) |
| Generation Brands Holdings, Inc.          | $ | 46.1 |  |
| Explorer Coinvest, LLC                    | 1.2 |  |
| Osage Exploration & Development, Inc. | (19.5 | ) |
| Aveta, Inc.                               | (11.9 | ) |
| Aventine Renewable Energy Holdings, Inc.  | (2.9 | ) |
| Energy & Exploration Partners, Inc.   | (2.4 | ) |
| Radio One, Inc.                           | (2.3 | ) |

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|                              |
|------------------------------|
|                              |  |  |
| (in millions)                | Net Change in Unrealized Gain (Loss) |
| SCM Insurance Services, Inc. | 6.2 |  |
| Solarplicity Group Limited   | 5.0 |  |
| Sungevity Inc.               | 4.4 |  |
| SHD Oil & Gas, LLC       | 2.8 |  |
| Golden Bear 2016-R, LLC      | (2.5 | ) |
| Merx Aviation Finance, LLC   | (2.1 | ) |
| Pelican Energy, LLC          | (1.1 | ) |

|                                                |
|------------------------------------------------|
|                                                |  |  |  |
| (in millions)                                  | Net Change in Unrealized Gain (Loss) |
|  Golden Bear Warehouse LLC                | $ | 14.2 |  |
|  MCF CLO III, LLC                         | 3.5 |  |
|  Aventine Renewable Energy Holdings, Inc. | 3.1 |  |
|  Asset Repackaging Trust Six B.V.         | 1.8 |  |
|  MSC Software Corp.                       | 1.7 |  |
|  Access CIG, LLC                          | 1.7 |  |
|  Venoco, Inc.                             | (8.5 | ) |
|  Solarplicity Group Limited               | (4.2 | ) |
|  Garden Fresh Restaurant Corp.            | (4.0 | ) |
|  Maxus Capital Carbon SPE I, LLC          | (3.7 | ) |
|  LVI Group Investments, LLC               | (3.3 | ) |
|  Dynamic Product Tankers, LLC             | (3.1 | ) |

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|                                    |
|------------------------------------|
|                                    |  |  |  |
| (in millions)                      | Net Change in Unrealized Gain (Loss) |
| Venoco, Inc.                       | $ | 89.0 |  |
| Delta Career Education Corporation | 72.8 |  |
| AIC SPV Holdings I, LLC            | 44.8 |  |
| LVI Group Investments, LLC         | 17.5 |  |
| Magnetation, LLC                   | 10.6 |  |
| Solarplicity Group Limited         | 9.8 |  |
| Clothesline Holdings, Inc.         | 6.0 |  |
| SCM Insurance Services, Inc.       | 7.9 |  |
| Sungevity Inc.                     | 4.4 |  |
| Sprint Industrial Holdings, LLC.   | (2.4 | ) |
| Golden Bear Warehouse LLC          | (2.2 | ) |
| Merx Aviation Finance, LLC         | (1.9 | ) |

|                                           |
|-------------------------------------------|
|                                           |  |  |  |
| (in millions)                             | Net Change in Unrealized Gain (Loss) |
| Osage Exploration & Development, Inc. | $ | 19.3 |  |
| Golden Bear Warehouse LLC                 | 16.3 |  |
| Aveta, Inc.                               | 13.2 |  |
| Radio One, Inc.                           | 4.7 |  |
| MCF CLO III, LLC                          | 4.4 |  |
| Generation Brands Holdings, Inc.          | (43.8 | ) |
| Garden Fresh Restaurant Corp.             | (33.9 | ) |
| Delta Educational Systems, Inc.           | (22.4 | ) |
| Solarplicity Group Limited                | (20.9 | ) |
| Venoco, Inc.                              | (14.6 | ) |
| LVI Group Investments, LLC                | (10.5 | ) |

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|                                 |
|---------------------------------|
|                                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                            | Payments Due by Period |
| (in millions)                   | Total |   | Less than 1 Year |   | 1 to 3 Years |   | 3 to 5 Years |   | More than 5 Years |
| Senior Secured Facility (1)     | $ | 216.7 |  |   | $ | — |  |   | $ | — |  |   | $ | 216.7 |  |   | $ | — |  |
| Senior Secured Notes (Series B) | 16.0 |  |   | 16.0 |  |   | — |  |   | — |  |   | — |  |
| 2042 Notes (2)                  | 150.0 |  |   | 150.0 |  |   | — |  |   | — |  |   | — |  |
| 2043 Notes                      | 150.0 |  |   | — |  |   | — |  |   | — |  |   | 150.0 |  |
| 2025 Notes                      | 350.0 |  |   | — |  |   | — |  |   | — |  |   | 350.0 |  |
| Total Debt Obligations          | $ | 882.7 |  |   | $ | 166.0 |  |   | $ | — |  |   | $ | 216.7 |  |   | $ | 500.0 |  |

|     |                                                                                                                                                                                                                                                                                                                                                                                             |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | As of September 30, 2017, aggregate lender commitments under the Senior Secured Facility totaled $1.19 billion and $958.5 million of unused capacity. As of September 30, 2017, there were $14.8 million of letters of credit issued under the Senior Secured Facility as shown as part of total commitments in Note 10 within the notes to financial statements. |

|     |                                                                                                                                                                                                 |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | On October 16, 2017, the Company redeemed the entire $150.0 million aggregate principal amount outstanding of the 2042 Notes in accordance with the terms of the indenture governing the Notes. |

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|                             |
|-----------------------------|
|                             |  |  |  |  |  |  |  |  |
| Basis Point Change          |   | Net Investment Income |   | Net Investment Income Per Share |
|  Up 400 basis points   |   | $ | 34.5 |  million |   | $ | 0.158 |  |
|  Up 300 basis points   |   | $ | 25.9 |  million |   | $ | 0.118 |  |
|  Up 200 basis points   |   | $ | 17.2 |  million |   | $ | 0.079 |  |
|  Up 100 basis points   |   | $ | 8.6 |  million |   | $ | 0.039 |  |
|  Down 100 basis points |   | $ | (1.7 | ) million |   | $ | (0.008 | ) |

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|                                |
|--------------------------------|
|                                |  |  |  |  |  |  |  |  |  |  |  |  |
| Date of Adoption               |   | Maximum Cost of Shares That May Be Repurchased |   | Cost of Shares Repurchased |   | Remaining Cost of Shares That May Be Repurchased |
| August 6, 2015                 |   | $ | 50.0 |  million |   | $ | 50.0 |  million |   | $ | — |  |
| December 14, 2015              |   | 50.0 |  million |   | 50.0 |  million |   | — |  |
| September 14, 2016             |   | 50.0 |  million |   | 4.3 |  million |   | 45.7 |  million |
| Total as of September 30, 2017 |   | $ | 150.0 |  million |   | $ | 104.3 |  million |   | $ | 45.7 |  million |

|                    |
|--------------------|
|                    |  |  |  |  |  |  |
| Effective Date     |   | Termination Date |   | Amount Allocated to 10b5-1 Repurchase Plans |
| September 15, 2015 |   | November 5, 2015 |   | $ | 5.0 |  million |
| January 1, 2016    |   | February 5, 2016 |   | 10.0 |  million |
| April 1, 2016      |   | May 19, 2016 |   | 5.0 |  million |
| July 1, 2016       |   | August 5, 2016 |   | 15.0 |  million |
| September 30, 2016 |   | November 8, 2016 |   | 20.0 |  million |
| January 4, 2017    |   | February 6, 2017 |   | 10.0 |  million |
| March 31, 2017     |   | May 19, 2017 |   | 10.0 |  million |
| June 30, 2017      |   | August 7, 2017 |   | 10.0 |  million |
| October 2, 2017    |   | November 6, 2017 |   | 10.0 |  million |

|                |
|----------------|
|                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Month          |   | Total Number of Shares Purchased |   | Average Price Paid Per Share* |   | Total Number of Shares Purchased as Part of Publicly Announced Plans |   | Maximum Dollar Value of Shares That May Yet Be Purchased Under Publicly Announced Plans |
| August 2015    |   | 1,530,000 |  |   | $ | 6.57 |  |   | 1,530,000 |  |   | $ | 40.0 |  million |
| September 2015 |   | 1,810,400 |  |   | 6.15 |  |   | 1,810,400 |  |   | 28.8 |  million |
| November 2015  |   | 3,350,000 |  |   | 6.03 |  |   | 3,350,000 |  |   | 8.6 |  million |
| December 2015  |   | 1,882,329 |  |   | 5.86 |  |   | 1,882,329 |  |   | 47.6 |  million |
| January 2016   |   | 2,012,126 |  |   | 4.97 |  |   | 2,012,126 |  |   | 37.6 |  million |
| June 2016      |   | 1,088,800 |  |   | 5.58 |  |   | 1,088,800 |  |   | 31.5 |  million |
| July 2016      |   | 49,475 |  |   | 5.51 |  |   | 49,475 |  |   | 31.2 |  million |
| August 2016    |   | 1,788,882 |  |   | 5.89 |  |   | 1,788,882 |  |   | 20.7 |  million |
| September 2016 |   | 1,234,569 |  |   | 6.04 |  |   | 1,234,569 |  |   | 63.2 |  million |
| October 2016   |   | 1,582,250 |  |   | 5.94 |  |   | 1,582,250 |  |   | 53.8 |  million |
| November 2016  |   | 717,866 |  |   | 5.82 |  |   | 717,866 |  |   | 49.6 |  million |
| August 2017    |   | 100,000 |  |   | 5.99 |  |   | 100,000 |  |   | 49.0 |  million |
| September 2017 |   | 560,300 |  |   | 5.99 |  |   | 560,300 |  |   | 45.7 |  million |
| Total          |   | 17,706,997 |  |   | $ | 5.89 |  |   | 17,706,997 |  |   |   |

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|        |
|--------|
|        |  |
| 3.1(a) | Articles of Amendment (1) |
| 3.1(b) | Articles of Amendment and Restatement (2) |
| 3.2    | Fourth Amended and Restated Bylaws (3) |
| 31.1   | Certification of Chief Executive Officer Pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934* |
| 31.2   | Certification of Chief Financial Officer Pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934* |
| 32.1   | Certification of Chief Executive Officer and Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350)* |

|   |                 |
|---|-----------------|
| * | Filed herewith. |

|     |                                                                                                                                                                                                      |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | Incorporated by reference from the Registrant’s pre-effective Amendment No. 1 to the Registration Statement under the Securities Act of 1933, as amended, as Form N-2, filed on June 20, 2005. |

|     |                                                                                                                                                                                                                   |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Incorporated by reference from the Registrant’s post-effective Amendment No. 1 to the Registration Statement under the Securities Act of 1933, as amended, on Form N-2, filed on August 14, 2006. |

|     |                                                                                              |
|-----|----------------------------------------------------------------------------------------------|
| (3) | Incorporated by reference from the Registrant’s Form 10-K, filed on May 19, 2015. |

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|        |
|--------|
|        |  |  |
|   | APOLLO INVESTMENT CORPORATION |
|   |   |   |
|   | By: | /s/ JAMES C. ZELTER |
|   | James C. Zelter |
|   | Chief Executive Officer |
|   |   |   |
|   | By: | /s/ GREGORY W. HUNT |
|   | Gregory W. Hunt |
|   | Chief Financial Officer and Treasurer |
|   |   |   |
|   | By: | /s/ AMIT JOSHI |
|   | Amit Joshi |
|   | Chief Accounting Officer and Assistant Treasurer |