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

|                                                                                         |
|-----------------------------------------------------------------------------------------|
|                                                                                         |  |
| 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 February 6, 2018 |
| $0.001 par value      |   | 216,523,796 |

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

----

|              |
|--------------|
|              |  |  |
|         |   | Page |
|         | PART I. FINANCIAL INFORMATION |   |
|         |   |   |
| Item 1. | Financial Statements | 1 |
|         |   |   |
|         | Statements of Assets and LiabilitiesDecember 31, 2017 and March 31, 2017 | 1 |
|         |   |   |
|         | Statements of OperationsThree and nine months ended December 31, 2017 and December 31, 2016 | 2 |
|         |   |   |
|         | Statements of Changes in Net AssetsNine months ended December 31, 2017 and year ended March 31, 2017 | 3 |
|         |   |   |
|         | Statements of Cash FlowsNine months ended December 31, 2017 and December 31, 2016 | 4 |
|         |   |   |
|         | Schedule of InvestmentsDecember 31, 2017 | 5 |
|         |   |   |
|         | Schedule of InvestmentsMarch 31, 2017 | 20 |
|         |   |   |
|         | Notes to Financial Statements | 35 |
|         |   |   |
|         | Report of Independent Registered Public Accounting Firm | 62 |
|         |   |   |
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 63 |
|         |   |   |
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk | 76 |
|         |   |   |
| Item 4. | Controls and Procedures | 77 |
|         |   |   |
|         | PART II. OTHER INFORMATION |   |
|         |   |   |
| Item 1. | Legal Proceedings | 78 |
|         |   |   |
| Item 1A.     | Risk Factors | 78 |
|         |   |   |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 78 |
|         |   |   |
| Item 3. | Defaults Upon Senior Securities | 80 |
|         |   |   |
| Item 4.      | Mine Safety Disclosures | 80 |
|         |   |   |
| Item 5. | Other Information | 80 |
|         |   |   |
| Item 6. | Exhibits | 80 |
|         |   |   |
|         | Signatures | 82 |

----

| APOLLO INVESTMENT CORPORATIONSTATEMENTS OF ASSETS AND LIABILITIES(In thousands, except share and per share data)                        |
|-----------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                         |  |  |  |  |  |  |  |
|                                                                                                                                         | December 31, 2017 |  | March 31, 2017 |
|                                                                                                                                         | (Unaudited) |  |  |
| Assets                                                                                                                                  |  |  |  |
| Investments at fair value:                                                                                                              |  |  |  |  |  |
| Non-controlled/non-affiliated investments (cost — $1,494,104 and $1,510,980, respectively)                                   | $ | 1,474,318 |  |  | $ | 1,402,409 |  |
| Non-controlled/affiliated investments (cost — $223,077 and $417,471, respectively)                                                | 195,484 |  |  | 239,050 |  |
| Controlled investments (cost — $685,279 and $676,972, respectively)                                                               | 682,760 |  |  | 675,249 |  |
| Cash and cash equivalents                                                                                                               | 12,222 |  |  | 9,783 |  |
| Foreign currencies (cost — $1,844 and $1,494, respectively)                                                                       | 1,876 |  |  | 1,497 |  |
| Cash collateral on option contracts                                                                                                     | 5,547 |  |  | — |  |
| Receivable for investments sold                                                                                                         | 1,604 |  |  | 40,226 |  |
| Interest receivable                                                                                                                     | 23,194 |  |  | 17,072 |  |
| Dividends receivable                                                                                                                    | 2,550 |  |  | 6,489 |  |
| Deferred financing costs                                                                                                                | 14,806 |  |  | 17,632 |  |
| Prepaid expenses and other assets                                                                                                       | 1,211 |  |  | 713 |  |
| Total Assets                                                                                                                            | $ | 2,415,572 |  |  | $ | 2,410,120 |  |
|                                                                                                                                         |  |  |  |
| Liabilities                                                                                                                             |  |  |  |
| Debt                                                                                                                                    | $ | 875,165 |  |  | $ | 848,449 |  |
| Payable for investments purchased                                                                                                       | 30,773 |  |  | 13,970 |  |
| Distributions payable                                                                                                                   | 32,738 |  |  | 32,954 |  |
| Management and performance-based incentive fees payable                                                                                 | 18,576 |  |  | 16,306 |  |
| Interest payable                                                                                                                        | 9,674 |  |  | 7,319 |  |
| Accrued administrative services expense                                                                                                 | 2,393 |  |  | 2,250 |  |
| Variation margin payable on option contracts                                                                                            | 916 |  |  | — |  |
| Other liabilities and accrued expenses                                                                                                  | 4,287 |  |  | 7,075 |  |
| Total Liabilities                                                                                                                       | $ | 974,522 |  |  | $ | 928,323 |  |
| Commitments and contingencies (Note 10)                                                                                                 |  |  |  |  |  |
| Net Assets                                                                                                                              | $ | 1,441,050 |  |  | $ | 1,481,797 |  |
|                                                                                                                                         |  |  |  |
| Net Assets                                                                                                                              |  |  |  |
| Common stock, $0.001 par value (400,000,000 shares authorized; 218,255,954 and 219,694,654 shares issued and outstanding, respectively) | $ | 218 |  |  | $ | 220 |  |
| Paid-in capital in excess of par                                                                                                        | 2,916,176 |  |  | 2,924,775 |  |
| Accumulated underdistributed net investment income                                                                                      | 91,031 |  |  | 88,134 |  |
| Accumulated net realized loss                                                                                                           | (1,515,575 | ) |  | (1,277,625 | ) |
| Net unrealized loss                                                                                                                     | (50,800 | ) |  | (253,707 | ) |
| Net Assets                                                                                                                              | $ | 1,441,050 |  |  | $ | 1,481,797 |  |
|                                                                                                                                         |  |  |  |  |  |
| Net Asset Value Per Share                                                                                                               | $ | 6.60 |  |  | $ | 6.74 |  |

----

Table of Contents

| APOLLO INVESTMENT CORPORATIONSTATEMENTS OF OPERATIONS (Unaudited)(In thousands, except per share data) |
|--------------------------------------------------------------------------------------------------------|
|                                                                                                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                                        | Three Months Ended December 31, |   | Nine Months Ended December 31, |
|                                                                                                        | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Investment Income                                                                                      |  |   |  |   |  |   |  |
| Non-controlled/non-affiliated investments:                                                             |  |   |  |   |  |   |  |
| Interest income (excluding Payment-in-kind (“PIK”) interest income)                        | $ | 38,350 |  |   | $ | 33,310 |  |   | $ | 116,519 |  |   | $ | 122,089 |  |
| Dividend income                                                                                        | — |  |   | 358 |  |   | — |  |   | 2,531 |  |
| PIK interest income                                                                                    | 1,752 |  |   | 3,361 |  |   | 5,926 |  |   | 5,331 |  |
| Other income                                                                                           | 1,487 |  |   | 936 |  |   | 5,264 |  |   | 2,984 |  |
| Non-controlled/affiliated investments:                                                                 |  |   |  |   |  |   |  |
| Interest income (excluding PIK interest income)                                                        | — |  |   | 257 |  |   | 114 |  |   | 718 |  |
| Dividend income                                                                                        | 392 |  |   | 4,609 |  |   | 2,461 |  |   | 12,312 |  |
| PIK interest income                                                                                    | 2,644 |  |   | 127 |  |   | 7,582 |  |   | 296 |  |
| Other income                                                                                           | — |  |   | — |  |   | (306 | ) |   | 70 |  |
| Controlled investments:                                                                                |  |   |  |   |  |   |  |
| Interest income (excluding PIK interest income)                                                        | 13,499 |  |   | 12,755 |  |   | 42,789 |  |   | 37,431 |  |
| Dividend income                                                                                        | 5,250 |  |   | 6,400 |  |   | 13,403 |  |   | 13,850 |  |
| PIK interest income                                                                                    | 1,379 |  |   | 5,958 |  |   | 4,046 |  |   | 15,954 |  |
| Total Investment Income                                                                                | $ | 64,753 |  |   | $ | 68,071 |  |   | $ | 197,798 |  |   | $ | 213,566 |  |
| Expenses                                                                                               |   |   |   |   |   |   |   |
| Management fees                                                                                        | $ | 12,048 |  |   | $ | 12,978 |  |   | $ | 36,463 |  |   | $ | 40,679 |  |
| Performance-based incentive fees                                                                       | 7,484 |  |   | 5,670 |  |   | 23,433 |  |   | 16,063 |  |
| Interest and other debt expenses                                                                       | 12,433 |  |   | 14,473 |  |   | 40,479 |  |   | 45,704 |  |
| Administrative services expense                                                                        | 1,693 |  |   | 1,599 |  |   | 5,061 |  |   | 5,767 |  |
| Other general and administrative expenses                                                              | 2,262 |  |   | 2,329 |  |   | 6,438 |  |   | 9,917 |  |
| Total expenses                                                                                         | 35,920 |  |   | 37,049 |  |   | 111,874 |  |   | 118,130 |  |
| Management and performance-based incentive fees waived                                                 | (4,986 | ) |   | (5,246 | ) |   | (15,077 | ) |   | (16,264 | ) |
| Expense reimbursements                                                                                 | (148 | ) |   | (84 | ) |   | (444 | ) |   | (253 | ) |
| Net Expenses                                                                                           | $ | 30,786 |  |   | $ | 31,719 |  |   | $ | 96,353 |  |   | $ | 101,613 |  |
| Net Investment Income                                                                                  | $ | 33,967 |  |   | $ | 36,352 |  |   | $ | 101,445 |  |   | $ | 111,953 |  |
| Net Realized and Change in Unrealized Gains (Losses)                                                   |   |   |   |   |   |   |   |
| Net realized gains (losses):                                                                           |   |   |   |   |   |   |   |
| Non-controlled/non-affiliated investments                                                              | $ | 443 |  |   | $ | 3,932 |  |   | $ | (96,704 | ) |   | $ | (36,195 | ) |
| Non-controlled/affiliated investments                                                                  | 5,369 |  |   | 36,473 |  |   | (141,472 | ) |   | 81,047 |  |
| Controlled investments                                                                                 | — |  |   | (1,982 | ) |   | — |  |   | (2,173 | ) |
| Option contracts                                                                                       | (614 | ) |   | — |  |   | (619 | ) |   | — |  |
| Foreign currency transactions                                                                          | 16 |  |   | 749 |  |   | 6,635 |  |   | 2,014 |  |
| Extinguishment of debt                                                                                 | (5,790 | ) |   | — |  |   | (5,790 | ) |   | — |  |
| Net realized gains (losses)                                                                            | (576 | ) |   | 39,172 |  |   | (237,950 | ) |   | 44,693 |  |
| Net change in unrealized losses:                                                                       |   |   |   |   |   |   |   |
| Non-controlled/non-affiliated investments                                                              | (12,502 | ) |   | 5,292 |  |   | 88,785 |  |   | 70,318 |  |
| Non-controlled/affiliated investments                                                                  | (6,391 | ) |   | (53,882 | ) |   | 150,828 |  |   | (183,676 | ) |
| Controlled investments                                                                                 | 4,988 |  |   | (21,447 | ) |   | (796 | ) |   | (56,030 | ) |
| Option contracts                                                                                       | (12,100 | ) |   | (3,258 | ) |   | (13,973 | ) |   | (3,258 | ) |
| Credit default swaps                                                                                   | — |  |   | (788 | ) |   | — |  |   | (788 | ) |
| Foreign currency translations                                                                          | (1,553 | ) |   | 9,849 |  |   | (21,937 | ) |   | 27,106 |  |
| Net change in unrealized losses                                                                        | (27,558 | ) |   | (64,234 | ) |   | 202,907 |  |   | (146,328 | ) |
| Net Realized and Change in Unrealized Losses                                                           | $ | (28,134 | ) |   | $ | (25,062 | ) |   | $ | (35,043 | ) |   | $ | (101,635 | ) |
| Net Increase in Net Assets Resulting from Operations                                                   | $ | 5,833 |  |   | $ | 11,290 |  |   | $ | 66,402 |  |   | $ | 10,318 |  |
| Earnings Per Share                                                                                     | $ | 0.03 |  |   | $ | 0.05 |  |   | $ | 0.30 |  |   | $ | 0.05 |  |

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Table of Contents

| APOLLO INVESTMENT CORPORATIONSTATEMENTS OF CHANGES IN NET ASSETS(In thousands, except share data) |
|---------------------------------------------------------------------------------------------------|
|                                                                                                   |  |  |  |  |  |  |  |
|                                                                                              | Nine Months Ended December 31, 2017 |   | Year Ended  March 31, 2017 |
|                                                                                              | (Unaudited) |   |   |
| Operations                                                                                        |   |   |   |
| Net investment income                                                                             | $ | 101,445 |  |   | $ | 149,243 |  |
| Net realized losses                                                                               | (237,950 | ) |   | (41,823 | ) |
| Net change in unrealized losses                                                                   | 202,907 |  |   | (89,050 | ) |
| Net Increase in Net Assets Resulting from Operations                                              | $ | 66,402 |  |   | $ | 18,370 |  |
|                                                                                              |   |   |   |
| Distributions to Stockholders                                                                     |   |   |   |
| Distribution of net investment income                                                             | $ | (98,548 | ) |   | $ | (76,950 | ) |
| Distribution of return of capital                                                                 | — |  |   | (67,286 | ) |
| Net Decrease in Net Assets Resulting from Distributions to Stockholders                           | $ | (98,548 | ) |   | $ | (144,236 | ) |
|                                                                                              |   |   |   |
| Capital Share Transactions                                                                        |   |   |   |
| Repurchase of common stock                                                                        | (8,601 | ) |   | (37,918 | ) |
| Net Decrease in Net Assets Resulting from Capital Share Transactions                              | $ | (8,601 | ) |   | $ | (37,918 | ) |
|                                                                                              |   |   |   |
| Net Assets                                                                                        |   |   |   |
| Net decrease in net assets during the period                                                      | $ | (40,747 | ) |   | $ | (163,784 | ) |
| Net assets at beginning of period                                                                 | 1,481,797 |  |   | 1,645,581 |  |
| Net Assets at End of Period                                                                       | $ | 1,441,050 |  |   | $ | 1,481,797 |  |
|                                                                                              |   |   |   |
| Capital Share Activity                                                                            |   |   |   |
| Shares repurchased during the period                                                              | (1,438,700 | ) |   | (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                                                    | 218,255,954 |  |   | 219,694,654 |  |

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Table of Contents

| APOLLO INVESTMENT CORPORATIONSTATEMENTS OF CASH FLOWS (Unaudited)(In thousands)                                 |
|-----------------------------------------------------------------------------------------------------------------|
|                                                                                                                 |  |  |  |  |  |  |  |
|                                                                                                            | Nine Months Ended December 31, |
|                                                                                                            | 2017 |   | 2016 |
| Operating Activities                                                                                            |   |   |   |
| Net increase in net assets resulting from operations                                                            | $ | 66,402 |  |   | $ | 10,318 |  |
| Net realized (gains) losses                                                                                     | 237,950 |  |   | (44,693 | ) |
| Net change in unrealized losses                                                                                 | (202,907 | ) |   | 146,328 |  |
| Net amortization of premiums and accretion of discounts on investments                                          | (5,240 | ) |   | (3,769 | ) |
| Accretion of discount on notes                                                                                  | 447 |  |   | 447 |  |
| Amortization of deferred financing costs                                                                        | 3,575 |  |   | 4,366 |  |
| Increase from foreign currency transactions                                                                     | 6,635 |  |   | 2,014 |  |
| Payment-in-kind interest and dividends capitalized                                                              | (12,630 | ) |   | (22,787 | ) |
| Changes in operating assets and liabilities:                                                                    |   |   |   |
| Purchases of investments                                                                                        | (789,231 | ) |   | (476,520 | ) |
| Proceeds from sales and repayments of investments                                                               | 827,315 |  |   | 837,232 |  |
| Purchases of option contracts                                                                                   | (8,976 | ) |   | (3,516 | ) |
| Purchases of credit default swaps                                                                               | — |  |   | (879 | ) |
| Proceeds from option contracts                                                                                  | 8,330 |  |   | 3,555 |  |
| Net settlement of option contracts                                                                              | (13,031 | ) |   | — |  |
| Decrease (increase) in interest receivable                                                                      | (5,946 | ) |   | 6,010 |  |
| Decrease in dividends receivable                                                                                | 3,939 |  |   | 5,248 |  |
| Decrease (increase) in prepaid expenses and other assets                                                        | (498 | ) |   | 9,021 |  |
| Increase (decrease) in management and performance-based incentive fees payable                                  | 2,270 |  |   | (10,228 | ) |
| Increase in interest payable                                                                                    | 2,355 |  |   | 3,426 |  |
| Increase (decrease) in accrued administrative services expense                                                  | 143 |  |   | (879 | ) |
| Decrease in other liabilities and accrued expenses                                                              | (2,788 | ) |   | (2,210 | ) |
| Net Cash Provided by Operating Activities                                                                       | $ | 118,114 |  |   | $ | 462,484 |  |
| Financing Activities                                                                                            |   |   |   |
| Issuances of debt                                                                                               | $ | 895,483 |  |   | $ | 741,747 |  |
| Payments of debt                                                                                                | (897,719 | ) |   | (994,804 | ) |
| Financing costs paid and deferred                                                                               | (177 | ) |   | (7,871 | ) |
| Repurchase of common stock                                                                                      | (8,601 | ) |   | (37,917 | ) |
| Distributions paid                                                                                              | (98,764 | ) |   | (123,559 | ) |
| Net Cash Used in Financing Activities                                                                           | $ | (109,778 | ) |   | $ | (422,404 | ) |
|                                                                                                            |   |   |   |
| 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 | $ | 8,336 |  |   | $ | 40,080 |  |
| Effect of foreign exchange rate changes                                                                         | 29 |  |   | (64 | ) |
| 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              | $ | 19,645 |  |   | $ | 58,921 |  |
|                                                                                                            |   |   |   |
| Supplemental Disclosure of Cash Flow Information                                                                |   |   |   |
| Cash interest paid                                                                                              | $ | 34,081 |  |   | $ | 37,487 |  |
|                                                                                                            |   |   |   |
| Non-Cash Activity                                                                                               |   |   |   |
| Payment-in-kind income                                                                                          | $ | 17,554 |  |   | $ | 22,047 |  |

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Table of Contents

|                                                  |
|--------------------------------------------------|
|                                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry / Company                               |   | Investment Type |   | Interest Rate (20) |   | MaturityDate |   |  Par / Shares (12) |   |  Cost (30) |   |  FairValue     (1) (31) |   |  |
| Advertising, Printing & Publishing           |   |   |   |   |   |   |
| A-L Parent LLC                                   |   | Second Lien Secured Debt |   | 8.82% (1M L+725, 1.00% Floor) |   | 12/02/24 |   | $ | 10,048 |  |   | $ | 9,960 |  |   | $ | 10,148 |  |   |  |
| American Media, Inc.                             |   | First Lien Secured Debt |   | 10.37% (3M L+900, 1.00% Floor) |   | 08/24/20 |   | 14,267 |  |   | 13,962 |  |   | 14,623 |  |   |  |
|                                             |   | First Lien Secured Debt  - Letter of Credit |   | L+750 |   | 08/24/20 |   | 154 |  |   | — |  |   | — |  |   | (23) |
|                                             |   | First Lien Secured Debt  - Revolver |   | 10.48% (3M L+900, 1.00% Floor) |   | 08/24/20 |   | 1,185 |  |   | 1,185 |  |   | 1,215 |  |   | (23) |
|                                             |   | First Lien Secured Debt  - Revolver |   | 12.50% (P+800) |   | 08/24/20 |   | 356 |  |   | 356 |  |   | 364 |  |   | (23) |
|                                             |   | First Lien Secured Debt  - Unfunded Revolver |   | 0.50% Unfunded |   | 08/24/20 |   | 83 |  |   | (35 | ) |   | — |  |   | (21)(23) |
|                                             |   |   |   |   |   |   |   |   |   | 15,468 |  |   | 16,202 |  |   |   |
| Simplifi Holdings, Inc.                          |   | First Lien Secured Debt |   | 8.07% (1M L+650, 1.00% Floor) |   | 09/28/22 |   | 12,170 |  |   | 11,823 |  |   | 11,804 |  |   | (9) |
|                                             |   | First Lien Secured Debt  - Unfunded Revolver |   | 0.50% Unfunded |   | 09/28/22 |   | 2,400 |  |   | (68 | ) |   | (72 | ) |   | (8)(9)(21)(23) |
|                                             |   |   |   |   |   |   |   |   |   | 11,755 |  |   | 11,732 |  |   |   |
| Total Advertising, Printing & Publishing     |   |   | $ | 37,183 |  |   | $ | 38,082 |  |   |   |
| Aerospace & Defense                          |   |   |   |   |   |   |
| Erickson Inc                                     |   | First Lien Secured Debt  - Letter of Credit |   | 7.50% |   | 09/30/18 |   | $ | 104 |  |   | $ | — |  |   | $ | (2 | ) |   | (8)(9)(23) |
|                                             |   | First Lien Secured Debt  - Letter of Credit |   | 7.50% |   | 12/10/18 |   | 37 |  |   | — |  |   | (1 | ) |   | (8)(9)(23) |
|                                             |   | First Lien Secured Debt  - Letter of Credit |   | 7.50% |   | 04/01/18 |   | 277 |  |   | — |  |   | (4 | ) |   | (8)(9)(23) |
|                                             |   | First Lien Secured Debt  - Letter of Credit |   | 7.50% |   | 06/25/18 |   | 3 |  |   | — |  |   | — |  |   | (8)(9)(23) |
|                                             |   | First Lien Secured Debt  - Letter of Credit |   | 7.50% |   | 10/18/18 |   | 708 |  |   | — |  |   | (11 | ) |   | (8)(9)(23) |
|                                             |   | First Lien Secured Debt  - Letter of Credit |   | 7.50% |   | 11/28/18 |   | 670 |  |   | — |  |   | (10 | ) |   | (8)(9)(23) |
|                                             |   | First Lien Secured Debt  - Letter of Credit |   | 7.50% |   | 06/20/18 |   | 43 |  |   | — |  |   | — |  |   | (8)(9)(23) |
|                                             |   | First Lien Secured Debt  - Letter of Credit |   | 7.50% |   | 02/02/18 |   | 200 |  |   | — |  |   | (3 | ) |   | (8)(9)(23) |
|                                             |   | First Lien Secured Debt  - Letter of Credit |   | 7.50% |   | 03/31/20 |   | 1,288 |  |   | — |  |   | (19 | ) |   | (8)(9)(23) |
|                                             |   | First Lien Secured Debt  - Revolver |   | 9.19% (3M L+750, 1.00% Floor) |   | 04/28/22 |   | 21,021 |  |   | 21,021 |  |   | 20,706 |  |   | (9)(23) |
|                                             |   | First Lien Secured Debt  - Unfunded Revolver |   | 0.50% Unfunded |   | 04/28/22 |   | 20,649 |  |   | (393 | ) |   | (310 | ) |   | (8)(9)(21)(23) |
|                                             |   |   |   |   |   |   |   |   |   | 20,628 |  |   | 20,346 |  |   |   |
| ILC Dover LP                                     |   | Second Lien Secured Debt |   | 10.19% (3M L+850, 1.00% Floor) |   | 06/28/24 |   | 20,000 |  |   | 19,549 |  |   | 19,550 |  |   |   |
| PAE Holding Corporation                          |   | Second Lien Secured Debt |   | 11.12% (2M L+950, 1.00% Floor) |   | 10/20/23 |   | 28,097 |  |   | 27,393 |  |   | 28,272 |  |   | (10) |
| Total Aerospace & Defense                    |   |   | $ | 67,570 |  |   | $ | 68,168 |  |   |   |
|  Automotive                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| K&N Parent, Inc.                             |   | Second Lien Secured Debt |   | 10.32% (1M L+875, 1.00% Floor) |   | 10/21/24 |   | $ | 27,000 |  |   | $ | 26,534 |  |   | $ | 26,595 |  |   | (10) |
| Total Automotive                                 |   |   | $ | 26,534 |  |   | $ | 26,595 |  |   |   |
| Aviation and Consumer Transport                  |   |   |   |   |   |   |   |   |   |   |
| Merx Aviation                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Merx Aviation Finance Assets Ireland Limited (5) |   | First Lien Secured Debt  - Letter of Credit |   | 2.25% |   | 10/01/18 |   | $ | 3,600 |  |   | $ | — |  |   | $ | — |  |   | (23) |

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|                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry / Company                         |   | Investment Type |   | Interest Rate (20) |   | MaturityDate |   |  Par / Shares (12) |   |  Cost (30) |   |  FairValue     (1) (31) |   |  |
| Merx Aviation Finance, LLC (5)             |   | First Lien Secured Debt  - Letter of Credit |   | 2.25% |   | 10/01/18 |   | 177 |  |   | — |  |   | — |  |   | (23) |
|                                       |   | First Lien Secured Debt  - Revolver |   | 12.00% |   | 10/31/18 |   | 366,300 |  |   | 366,300 |  |   | 366,300 |  |   | (23) |
|                                       |   | Common Equity/Interests - Membership Interests |   | N/A |   | N/A |   | N/A |  |   | 15,000 |  |   | 40,987 |  |   |   |
| Total Aviation and Consumer Transport      |   |   | $ | 381,300 |  |   | $ | 407,287 |  |   |   |
| Business Services                          |   |   |   |   |   |   |   |   |   |   |
| Access CIG, LLC                            |   | Second Lien Secured Debt |   | 10.25% (1M L+875, 1.00% Floor) |   | 10/17/22 |   | $ | 50,970 |  |   | $ | 49,434 |  |   | $ | 50,066 |  |   |  |
| Aero Operating LLC                         |   | First Lien Secured Debt |   | 8.82% (1M L+725, 1.00% Floor) |   | 12/29/22 |   | 36,520 |  |   | 35,608 |  |   | 35,607 |  |   | (9) |
|                                       |   | First Lien Secured Debt  - Revolver |   | 8.82% (1M L+725, 1.00% Floor) |   | 12/29/22 |   | 2,800 |  |   | 2,800 |  |   | 2,730 |  |   | (9)(23) |
|                                       |   | First Lien Secured Debt  - Unfunded Revolver |   | 1.00% Unfunded |   | 12/29/22 |   | 2,450 |  |   | (129 | ) |   | (61 | ) |   | (8)(9)(21)(23) |
|                                       |   |   |   |   |   |   |   |   |   | 38,279 |  |   | 38,276 |  |   |   |
| Almonde, Inc                               |   | Second Lien Secured Debt |   | 8.73% (3M L+725, 1.00% Floor) |   | 06/13/25 |   | 2,316 |  |   | 2,294 |  |   | 2,322 |  |   | (10)(17) |
| Ambrosia Buyer Corp.                       |   | Second Lien Secured Debt |   | 9.38% (3M L+ 800, 1.00% Floor) |   | 08/28/25 |   | 21,429 |  |   | 20,917 |  |   | 20,916 |  |   |  |
| Aptean, Inc.                               |   | Second Lien Secured Debt |   | 11.20% (3M L+950, 1.00% Floor) |   | 12/20/23 |   | 9,548 |  |   | 9,424 |  |   | 9,631 |  |   | (10) |
| CT Technologies Intermediate Holdings, Inc |   | Second Lien Secured Debt |   | 10.57% (1M L+900, 1.00% Floor) |   | 12/01/22 |   | 31,253 |  |   | 30,428 |  |   | 30,315 |  |   | (9) |
| Electro Rent Corporation                   |   | Second Lien Secured Debt |   | 10.62% (2M L+900, 1.00% Floor) |   | 01/31/25 |   | 18,334 |  |   | 17,846 |  |   | 17,967 |  |   | (9) |
|                                       |   | Second Lien Secured Debt |   | 10.62% (1M L+900, 1.00% Floor) |   | 01/31/25 |   | 18,264 |  |   | 17,740 |  |   | 17,899 |  |   | (9) |
|                                       |   |   |   |   |   |   |   |   |   | 35,586 |  |   | 35,866 |  |   |   |
| Ministry Brands, LLC                       |   | Second Lien Secured Debt |   | 10.63% (3M L+925, 1.00% Floor) |   | 06/02/23 |   | 10,000 |  |   | 9,874 |  |   | 9,869 |  |   |  |
| Newscycle Solutions, Inc.                  |   | First Lien Secured Debt |   | 8.57% (1M L+700, 1.00% Floor) |   | 12/28/22 |   | 13,743 |  |   | 13,400 |  |   | 13,399 |  |   | (9)(25) |
|                                       |   | First Lien Secured Debt  - Unfunded Delayed Draw |   | 2.00% Unfunded |   | 12/28/22 |   | 1,257 |  |   | — |  |   | (31 | ) |   | (8)(9)(21)(23)(25) |
|                                       |   | First Lien Secured Debt  - Unfunded Revolver |   | 0.50% Unfunded |   | 12/28/22 |   | 500 |  |   | (12 | ) |   | (13 | ) |   | (8)(9)(21)(23)(25) |
|                                       |   |   |   |   |   |   |   |   |   | 13,388 |  |   | 13,355 |  |   |   |
| PSI Services, LLC                          |   | First Lien Secured Debt |   | 6.56% (1M L+500, 1.00% Floor) |   | 01/20/23 |   | 4,132 |  |   | 4,044 |  |   | 4,062 |  |   | (9) |
|                                       |   | First Lien Secured Debt  - Revolver |   | 6.57% (1M L+500, 1.00% Floor) |   | 01/20/22 |   | 79 |  |   | 79 |  |   | 78 |  |   | (9)(23) |
|                                       |   | First Lien Secured Debt  - Unfunded Revolver |   | 0.50% Unfunded |   | 01/20/22 |   | 159 |  |   | (8 | ) |   | (3 | ) |   | (8)(9)(21)(23) |
|                                       |   | First Lien Secured Debt  - Revolver |   | 6.50% (1M L+500, 1.00% Floor) |   | 01/20/22 |   | 159 |  |   | 159 |  |   | 156 |  |   | (9)(23) |
|                                       |   | First Lien Secured Debt  - Unfunded Revolver |   | 0.50% Unfunded |   | 01/20/22 |   | £ | 47 |  |   | — |  |   | — |  |   | (9)(21)(23) |
|                                       |   | Second Lien Secured Debt |   | 10.56% (1M L+900, 1.00% Floor) |   | 01/20/24 |   | 25,714 |  |   | 25,046 |  |   | 25,148 |  |   | (9) |
|                                       |   |   |   |   |   |   |   |   |   | 29,320 |  |   | 29,441 |  |   |   |
| RA Outdoors, LLC                           |   | First Lien Secured Debt |   | 6.21% (1M L+475, 1.00% Floor) |   | 09/11/24 |   | 7,229 |  |   | 7,090 |  |   | 7,156 |  |   | (9) |
|                                       |   | First Lien Secured Debt  - Unfunded Revolver |   | 0.50% Unfunded |   | 09/09/22 |   | 1,200 |  |   | (23 | ) |   | (12 | ) |   | (8)(9)(21)(23) |
|                                       |   | Second Lien Secured Debt |   | 10.21% (1M L+875, 1.00% Floor) |   | 09/11/25 |   | 34,200 |  |   | 33,377 |  |   | 33,516 |  |   | (9) |
|                                       |   |   |   |   |   |   |   |   |   | 40,444 |  |   | 40,660 |  |   |   |

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|                                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry / Company                                                    |   | Investment Type |   | Interest Rate (20) |   | MaturityDate |   |  Par / Shares (12) |   |  Cost (30) |   |  FairValue     (1) (31) |   |  |
| Dodge Data/Skyline Data                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Dodge Data & Analytics LLC                                        |   | First Lien Secured Debt |   | 10.50% (3M L+875, 1.75% Floor) |   | 10/31/19 |   | 49,722 |  |   | 49,355 |  |   | 48,354 |  |   |   |
| Skyline Data, News and Analytics LLC                                  |   | Common Equity/Interests - Class A Common Unit |   | N/A |   | N/A |   | 4,500,000 Shares |  |   | 4,500 |  |   | 4,500 |  |   | (13) |
|                                                                  |   |   |   |   |   |   |   |   |   | 53,855 |  |   | 52,854 |  |   |   |
| STG-Fairway Acquisitions, Inc.                                        |   | Second Lien Secured Debt |   | 10.73% (3M L+925, 1.00% Floor) |   | 06/30/23 |   | 15,000 |  |   | 14,741 |  |   | 14,400 |  |   |   |
| Transplace Holdings, Inc.                                             |   | Second Lien Secured Debt |   | 10.31% (1M L+875, 1.00% Floor) |   | 10/06/25 |   | 15,000 |  |   | 14,634 |  |   | 15,094 |  |   | (10) |
| U.S. Security Associates Holdings, Inc.                               |   | Unsecured Debt |   | 11.00% |   | 01/28/20 |   | 80,000 |  |   | 80,000 |  |   | 80,000 |  |   |   |
| Total Business Services                                               |   |   | $ | 442,618 |  |   | $ | 443,065 |  |   |   |
| Chemicals, Plastics & Rubber                                      |   |   |   |   |   |   |   |   |   |   |
| Carbon Free Chemicals                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Carbonfree Chemicals SPE I LLC (f/k/a Maxus Capital Carbon SPE I LLC) |   | First Lien Secured Debt |   | 5.215% PIK |   | 06/30/20 |   | $ | 59,305 |  |   | $ | 59,305 |  |   | $ | 49,036 |  |   |  |
| Carbonfree Caustic SPE LLC                                            |   | Unfunded Delayed Draw - Promissory Note |   | 0.00% Unfunded |   | 06/30/20 |   | 6,111 |  |   | — |  |   | — |  |   | (23) |
|                                                                  |   |   |   |   |   |   |   |   |   | 59,305 |  |   | 49,036 |  |   |   |
| Hare Bidco, Inc.                                                      |   | Second Lien Secured Debt |   | 9.75% (3M L+875, 1.00% Floor) |   | 08/01/24 |   | € | 13,574 |  |   | 14,412 |  |   | 15,974 |  |   |   |
| Total Chemical, Plastics & Rubber                                 |   |   | $ | 73,717 |  |   | $ | 65,010 |  |   |   |
| Consumer Goods – Durable                                        |   |   |   |   |   |   |   |   |   |   |
| Hayward Industries, Inc.                                              |   | Second Lien Secured Debt |   | 9.82% (1M L+825) |   | 08/04/25 |   | $ | 25,110 |  |   | $ | 24,633 |  |   | $ | 24,630 |  |   |   |
| KLO Holdings                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| 9357-5991 Quebec Inc.                                                 |   | First Lien Secured Debt |   | 9.31% (1M L+775, 1.25% Floor) |   | 04/07/22 |   | 9,382 |  |   | 9,281 |  |   | 9,279 |  |   |   |
| KLO Acquisition LLC                                                   |   | First Lien Secured Debt |   | 9.31% (1M L+775, 1.25% Floor) |   | 04/07/22 |   | 5,431 |  |   | 5,373 |  |   | 5,372 |  |   |   |
|                                                                  |   |   |   |   |   |   |   |   |   | 14,654 |  |   | 14,651 |  |   |   |
| Sorenson Holdings, LLC                                                |   | Common Equity/Interests - Membership Interests |   | N/A |   | N/A |   | 587 Shares |  |   | — |  |   | 470 |  |   | (10)(13) |
| Total Consumer Goods - Durable                                        |   |   | $ | 39,287 |  |   | $ | 39,751 |  |   |   |
| Consumer Goods – Non-Durable                                    |   |   |   |   |   |   |   |   |   |   |
| ABG Intermediate Holdings 2, LLC                                      |   | Second Lien Secured Debt |   | 9.44% (3M L+775, 1.00% Floor) |   | 09/29/25 |   | $ | 8,094 |  |   | $ | 8,034 |  |   | $ | 8,215 |  |   | (10) |
| Sequential Brands Group, Inc.                                         |   | Second Lien Secured Debt |   | 10.46% (1M L+900) |   | 07/01/22 |   | 17,248 |  |   | 17,085 |  |   | 16,933 |  |   | (17) |
| Total Consumer Goods - Non-Durable                                    |   |   | $ | 25,119 |  |   | $ | 25,148 |  |   |   |
| Consumer Services                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| 1A Smart Start LLC                                                    |   | Second Lien Secured Debt |   | 11.75% (P+725) |   | 08/22/22 |   | $ | 25,100 |  |   | $ | 24,601 |  |   | $ | 24,598 |  |   |   |
| Total Consumer Services                                               |   |   | $ | 24,601 |  |   | $ | 24,598 |  |   |   |
| Containers, Packaging & Glass                                     |   |   |   |   |   |   |   |   |   |   |
| Sprint Industrial Holdings, LLC                                       |   | Second Lien Secured Debt |   | 13.5% PIK |   | 11/14/19 |   | $ | 18,451 |  |   | $ | 18,107 |  |   | $ | 9,069 |  |   |  |
|                                                                  |   | Common Equity/Interests - Warrants |   | N/A |   | N/A |   | 7,341 Warrants |  |   | — |  |   | — |  |   | (13)(29) |
|                                                                  |   |   |   |   |   |   |   |   |   | 18,107 |  |   | 9,069 |  |   |   |
| TricorBraun Holdings, Inc.                                            |   | First Lien Secured Debt  - Revolver |   | 6.75% (P+225) |   | 11/30/21 |   | 1,523 |  |   | 1,523 |  |   | 1,526 |  |   | (23) |
|                                                                  |   | First Lien Secured Debt  - Unfunded Revolver |   | 0.50% Unfunded |   | 11/30/21 |   | 4,103 |  |   | (396 | ) |   | — |  |   | (21)(23) |
|                                                                  |   | 1,127 |  |   | 1,526 |  |   |   |
| Total Containers, Packaging & Glass                               |   |   | $ | 19,234 |  |   | $ | 10,595 |  |   |   |

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|                                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry / Company                                                    |   | Investment Type |   | Interest Rate (20) |   | MaturityDate |   |  Par / Shares (12) |   |  Cost (30) |   |  FairValue     (1) (31) |   |  |
| Diversified Investment Vehicles, Banking, Finance, Real Estate        |   |   |   |   |   |   |   |   |   |   |
| Armor Holding II LLC                                                  |   | Second Lien Secured Debt |   | 10.70% (3M L+900, 1.25% Floor) |   | 12/26/20 |   | $ | 8,000 |  |   | $ | 7,936 |  |   | $ | 8,110 |  |   | (10) |
| Craft 2014-1A                                                         |   | Structured Products and Other - Credit-Linked Note |   | 8.12% (3M L+965) |   | 05/15/21 |   | 27,130 |  |   | 27,697 |  |   | 26,959 |  |   | (11)(17) |
| Craft 2015-2                                                          |   | Structured Products and Other - Credit-Linked Note |   | 9.55% (3M L+925) |   | 01/16/24 |   | 24,869 |  |   | 25,746 |  |   | 24,375 |  |   | (11)(17) |
| Golden Bear 2016-R, LLC (3)(4)                                        |   | Structured Products and Other - Membership Interests |   | N/A |   | 09/20/42 |   | — |  |   | 16,459 |  |   | 15,233 |  |   | (17) |
| Purchasing Power, LLC                                                 |   | First Lien Secured Debt  - Revolver |   | 9.56% (1M L + 800, 1.00% Floor) |   | 07/10/19 |   | 17,158 |  |   | 17,158 |  |   | 17,024 |  |   | (9)(23) |
|                                                                  |   | First Lien Secured Debt  - Unfunded Revolver |   | 0.75% Unfunded |   | 07/10/19 |   | 2,942 |  |   | (169 | ) |   | (23 | ) |   | (8)(9)(21)(23) |
|                                                                  |   |   |   |   |   |   |   |   |   | 16,989 |  |   | 17,001 |  |   |   |
| Ten-X, LLC                                                            |   | First Lien Secured Debt  - Revolver |   | 5.25% (1M L+375, 1.00% Floor) |   | 09/29/22 |   | 520 |  |   | 520 |  |   | 475 |  |   | (23) |
|                                                                  |   | First Lien Secured Debt  - Unfunded Revolver |   | 0.50% Unfunded |   | 09/29/22 |   | 4,160 |  |   | (400 | ) |   | (357 | ) |   | (8)(21)(23) |
|                                                                  |   |   |   |   |   |   |   |   |   | 120 |  |   | 118 |  |   |   |
| Total Diversified Investment Vehicles, Banking, Finance, Real Estate  |   |   | $ | 94,947 |  |   | $ | 91,796 |  |   |   |
| Energy – Electricity                                            |   |   |   |   |   |   |   |   |   |   |   |   |
| AMP Solar Group, Inc. (4)                                             |   | Common Equity/Interests - Class A Common Unit |   | N/A |   | N/A |   | 243,646 Shares |  |   | 10,000 |  |   | 5,114 |  |   | (13)(17) |
| Renew Financial                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| AIC SPV Holdings II, LLC (4)                                          |   | Common Equity/Interests - Membership Interests |   | N/A |   | N/A |   | 534,375 Shares |  |   | $ | 534 |  |   | $ | 1,042 |  |   | (13)(17)(15) |
| Renew Financial LLC (f/k/a Renewable Funding, LLC) (4)                |   | Preferred Equity - Series B Preferred Stock |   | N/A |   | N/A |   | 1,505,868 Shares |  |   | 8,343 |  |   | 19,027 |  |   | (13) |
|                                                                  |   | Preferred Equity - Series D Preferred Stock |   | N/A |   | N/A |   | 436,689 Shares |  |   | 5,568 |  |   | 6,663 |  |   | (13) |
| Renew JV LLC (4)                                                      |   | Common Equity/Interests - Membership Interests |   | N/A |   | N/A |   | 2,115,665 Shares |  |   | 2,116 |  |   | 3,019 |  |   | (13)(17) |
|                                                                  |   |   |   |   |   |   |   |   |   | 16,561 |  |   | 29,751 |  |   |   |
| Solarplicity Group                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Solarplicity Group Limited (3)(4)                                     |   | First Lien Secured Debt |   | 8.00% PIK (8.00% Cash Toggle) |   | 11/30/22 |   | £ | 129,626 |  |   | 150,352 |  |   | 125,714 |  |   | (17) |
|                                                                  |   | Common Equity/Interests - Class B Common Shares |   | N/A |   | N/A |   | 2,825 Shares |  |   | 2,472 |  |   | — |  |   | (2)(13)(17)(26) |
| Solarplicity UK Holdings Limited (4)                                  |   | Unsecured Debt |   | 8.00% PIK (8.00% Cash Toggle) |   | 02/24/22 |   | £ | 2,000 |  |   | 2,499 |  |   | 2,705 |  |   | (17) |
|                                                                  |   | Common Equity/Interests - Ordinary Shares |   | N/A |   | N/A |   | 2,825 Shares |  |   | 4 |  |   | 5,212 |  |   | (2)(13)(17) |
|                                                                  |   |   |   |   |   |   |   |   |   | 155,327 |  |   | 133,631 |  |   |   |
| Westinghouse Electric Co LLC                                          |   | First Lien Secured Debt |   | 7.82% (1M L+625, 1.00% Floor) |   | 03/31/18 |   | 40,000 |  |   | 39,727 |  |   | 40,000 |  |   | (9) |
| Total Energy – Electricity                                      |   |   | $ | 221,615 |  |   | $ | 208,496 |  |   |   |
| Energy – Oil & Gas                                          |   |   |   |   |   |   |   |   |   |   |
| Glacier Oil & Gas Corp. (f/k/a Miller Energy Resources, Inc.) (5) |   | First Lien Secured Debt |   | 8.00% Cash (10.00% PIK Toggle) |   | 03/29/19 |   | $ | 15,000 |  |   | $ | 15,000 |  |   | $ | 15,000 |  |   | (23) |
|                                                                  |   | First Lien Secured Debt  - Unfunded Delayed Draw |   | 0.00% Unfunded |   | 03/29/19 |   | 5,000 |  |   | — |  |   | — |  |   | (21)(23) |
|                                                                  |   | Second Lien Secured Debt |   | 10.00% PIK (8.00% Cash Toggle) |   | 03/29/21 |   | 29,760 |  |   | 29,760 |  |   | 29,760 |  |   |  |

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|                                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry / Company                        |   | Investment Type |   | Interest Rate (20) |   | MaturityDate |   |  Par / Shares (12) |   |  Cost (30) |   |  FairValue     (1) (31) |   |  |
|                                      |   | Common Equity/Interests - Common Stock |   | N/A |   | N/A |   | 5,000,000 Shares |  |   | 30,078 |  |   | 19,995 |  |   | (13) |
|                                      |   |   |   |   |   |   |   |   |   | 74,838 |  |   | 64,755 |  |   |   |
| Pelican Energy, LLC (4)                   |   | Common Equity/Interests - Membership Interests |   | N/A |   | N/A |   | 1,444 Shares |  |   | 24,730 |  |   | 11,755 |  |   | (13)(17) |
| SHD Oil & Gas, LLC (5)                |   | First Lien Secured Debt  - Tranche A Note |   | 14.00% (8.00% Cash plus 6.00% PIK) |   | 12/31/19 |   | 42,794 |  |   | 42,794 |  |   | 44,078 |  |   |  |
|                                      |   | First Lien Secured Debt  - Tranche B Note |   | 14.00% PIK |   | 12/31/19 |   | 70,755 |  |   | 44,380 |  |   | 33,738 |  |   | (13)(14) |
|                                      |   | First Lien Secured Debt  - Tranche C Note |   | 12.00% |   | 12/31/19 |   | 18,000 |  |   | 18,000 |  |   | 18,540 |  |   |  |
|                                      |   | Common Equity/Interests - Series A Units |   | N/A |   | N/A |   | 7,600,000 Shares |  |   | 1,411 |  |   | — |  |   | (13) |
|                                      |   |   |   |   |   |   |   |   |   | 106,585 |  |   | 96,356 |  |   |   |
| Total Energy – Oil & Gas        |   |   | $ | 206,153 |  |   | $ | 172,866 |  |   |   |
| Food & Grocery                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Bumble Bee Foods                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Bumble Bee Holdings, Inc.                 |   | First Lien Secured Debt |   | 9.44% (3M L+800, 1.00% Floor) |   | 08/15/23 |   | $ | 15,546 |  |   | $ | 15,249 |  |   | $ | 15,235 |  |   |   |
| Connors Bros Clover Leaf Seafoods Company |   | First Lien Secured Debt |   | 9.44% (3M L+800, 1.00% Floor) |   | 08/15/23 |   | 4,404 |  |   | 4,320 |  |   | 4,316 |  |   |   |
|                                      |   |   |   |   |   |   |   |   |   | 19,569 |  |   | 19,551 |  |   |   |
| Grocery Outlet, Inc.                      |   | Second Lien Secured Debt |   | 9.94% (3M L+825, 1.00% Floor) |   | 10/21/22 |   | 25,000 |  |   | 24,772 |  |   | 25,125 |  |   | (10) |
| Total  Food & Grocery                 |   |   | $ | 44,341 |  |   | $ | 44,676 |  |   |   |
| Healthcare & Pharmaceuticals          |   |   |   |   |   |   |   |   |   |   |
| Altasciences                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| 9360-1367 Quebec Inc.                     |   | First Lien Secured Debt |   | 7.94% (3M L+625, 1.00% Floor) |   | 06/09/23 |   | C$ | 2,430 |  |   | $ | 1,773 |  |   | $ | 1,896 |  |   | (9)(17) |
|                                      |   | First Lien Secured Debt |   | 7.94% (3M L+625, 1.00% Floor) |   | 06/09/23 |   | $ | 2,913 |  |   | 2,854 |  |   | 2,848 |  |   | (9)(17) |
| Altasciences US Acquisition, Inc.         |   | First Lien Secured Debt |   | 7.94% (3M L+625, 1.00% Floor) |   | 06/09/23 |   | 5,261 |  |   | 5,154 |  |   | 5,143 |  |   | (9) |
|                                      |   | First Lien Secured Debt  - Revolver |   | 7.94% (3M L+625, 1.00% Floor) |   | 06/09/23 |   | 285 |  |   | 285 |  |   | 279 |  |   | (9)(23)(28) |
|                                      |   | First Lien Secured Debt  - Unfunded Delayed Draw |   | 0.50% Unfunded |   | 06/09/23 |   | 2,851 |  |   | (32 | ) |   | (64 | ) |   | (8)(9)(21)(23)(28) |
|                                      |   | First Lien Secured Debt  - Unfunded Revolver |   | 0.25% Unfunded |   | 06/09/23 |   | 1,141 |  |   | (29 | ) |   | (27 | ) |   | (8)(9)(21)(23)(28) |
|                                      |   |   |   |   |   |   |   |   |   | 10,005 |  |   | 10,075 |  |   |   |
| Aptevo Therapeutics Inc.                  |   | First Lien Secured Debt |   | 9.16% (1M L+760) |   | 02/01/21 |   | 8,571 |  |   | 8,671 |  |   | 8,506 |  |   | (9) |
| Argon Medical Devices Holdings, Inc.      |   | Second Lien Secured Debt |   | 9.38% (3M L+800, 1.00% Floor) |   | 10/27/25 |   | 21,600 |  |   | 21,492 |  |   | 21,708 |  |   | (10) |
| Avalign Technologies, Inc.                |   | Second Lien Secured Debt |   | 9.71% (6M L+825, 1.00% Floor) |   | 09/02/24 |   | 5,500 |  |   | 5,448 |  |   | 5,514 |  |   |   |
| BioClinica Holding I, LP                  |   | Second Lien Secured Debt |   | 9.63% (3M L+825, 1.00% Floor) |   | 10/21/24 |   | 24,612 |  |   | 24,189 |  |   | 23,874 |  |   | (10) |
| Elements Behavioral Health, Inc.          |   | Second Lien Secured Debt |   | 14.44% (3M L+1275, 1.00% Floor) |   | 02/11/20 |   | 12,353 |  |   | 11,911 |  |   | 865 |  |   | (13)(14) |
| Invuity, Inc.                             |   | First Lien Secured Debt |   | 8.07% (1M L+650, 1.50% Floor) |   | 03/01/22 |   | 10,000 |  |   | 9,834 |  |   | 9,808 |  |   | (9) |
|                                      |   | First Lien Secured Debt  - Revolver |   | 4.82% (1M L+325, 1.50% Floor) |   | 03/01/22 |   | 969 |  |   | 969 |  |   | 964 |  |   | (9)(23) |
|                                      |   | First Lien Secured Debt  - Unfunded Revolver |   | 0.50% Unfunded |   | 03/01/22 |   | 1,031 |  |   | (8 | ) |   | (5 | ) |   | (8)(9)(21)(23) |
|                                      |   | Warrants - Warrants |   | N/A |   | N/A |   | 32,803 Warrants |  |   | 180 |  |   | 129 |  |   | (9) |
|                                      |   |   |   |   |   |   |   |   |   | 10,975 |  |   | 10,896 |  |   |   |

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Table of Contents

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|                                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry / Company                        |   | Investment Type |   | Interest Rate (20) |   | MaturityDate |   |  Par / Shares (12) |   |  Cost (30) |   |  FairValue     (1) (31) |   |  |
| Lanai Holdings III, Inc.                  |   | Second Lien Secured Debt |   | 9.98% (3M L+850, 1.00% Floor) |   | 08/28/23 |   | 17,391 |  |   | 16,973 |  |   | 16,087 |  |   | (10) |
| Maxor National Pharmacy Services, LLC     |   | First Lien Secured Debt |   | 7.53% (1M L+600, 1.00% Floor) |   | 11/22/23 |   | 21,631 |  |   | 21,100 |  |   | 21,418 |  |   | (9) |
|                                      |   | First Lien Secured Debt  - Revolver |   | 7.59% (2M L+600, 1.00% Floor) |   | 11/22/22 |   | 175 |  |   | 175 |  |   | 174 |  |   | (9)(23) |
|                                      |   | First Lien Secured Debt  - Unfunded Revolver |   | 0.50% Unfunded |   | 11/22/22 |   | 1,383 |  |   | (31 | ) |   | (13 | ) |   | (8)(9)(21)(23) |
|                                      |   |   |   |   |   |   |   |   |   | 21,244 |  |   | 21,579 |  |   |   |
| Oxford Immunotec, Inc.                    |   | First Lien Secured Debt |   | 9.16% (1M L+760) |   | 10/01/21 |   | 9,750 |  |   | 9,855 |  |   | 9,887 |  |   | (9)(17) |
|                                      |   | First Lien Secured Debt  - Unfunded Revolver |   | 0.50% Unfunded |   | 10/01/21 |   | 1,000 |  |   | (4 | ) |   | — |  |   | (9)(17)(21)(23) |
|                                      |   |   |   |   |   |   |   |   |   | 9,851 |  |   | 9,887 |  |   |   |
| PTC Therapeutics, Inc                     |   | First Lien Secured Debt |   | 7.71% (1M L+615, 1.00% Floor) |   | 05/01/21 |   | 12,667 |  |   | 12,614 |  |   | 12,667 |  |   | (9)(17) |
|                                      |   | First Lien Secured Debt  - Unfunded Delayed Draw |   | 0.00% Unfunded |   | 05/01/21 |   | 6,333 |  |   | (26 | ) |   | — |  |   | (9)(17)(21)(23) |
|                                      |   |   |   |   |   |   |   |   |   | 12,588 |  |   | 12,667 |  |   |   |
| RiteDose Holdings I, Inc.                 |   | First Lien Secured Debt |   | 8.19% (3M L + 650, 1.00% Floor) |   | 09/13/23 |   | 15,000 |  |   | 14,537 |  |   | 14,786 |  |   | (9) |
|                                      |   | First Lien Secured Debt  - Unfunded Revolver |   | 0.50% Unfunded |   | 09/13/22 |   | 2,000 |  |   | (61 | ) |   | (28 | ) |   | (8)(9)(21)(23) |
|                                      |   |   |   |   |   |   |   |   |   | 14,476 |  |   | 14,758 |  |   |   |
| Teladoc, Inc.                             |   | First Lien Secured Debt  - Unfunded Revolver |   | 0.50% Unfunded |   | 07/14/20 |   | 1,667 |  |   | (57 | ) |   | (67 | ) |   | (8)(17)(21)(23) |
| Wright Medical Group, Inc.                |   | First Lien Secured Debt  - Revolver |   | 5.81% (1M L+425, 0.75% Floor) |   | 12/23/21 |   | 18,333 |  |   | 18,333 |  |   | 18,333 |  |   | (9)(17)(23) |
|                                      |   | First Lien Secured Debt  - Unfunded Revolver |   | 0.50% Unfunded |   | 12/23/21 |   | 31,667 |  |   | (398 | ) |   | — |  |   | (9)(17)(21)(23) |
|                                      |   |   |   |   |   |   |   |   |   | 17,935 |  |   | 18,333 |  |   |   |
| Total Healthcare & Pharmaceuticals    |   |   | $ | 185,701 |  |   | $ | 174,682 |  |   |   |
| High Tech Industries                      |   |   |   |   |   |   |   |   |   |   |   |   |
| ChyronHego Corporation                    |   | First Lien Secured Debt |   | 7.43% (3M L+643, 1.00% Floor) |   | 03/09/20 |   | $ | 35,510 |  |   | $ | 35,159 |  |   | $ | 34,089 |  |   | (18) |
| DigiCert Holdings, Inc.                   |   | Second Lien Secured Debt |   | 9.63% (3M L+800, 1.00% Floor) |   | 10/31/25 |   | 20,196 |  |   | 20,097 |  |   | 20,316 |  |   | (10) |
| LabVantage Solutions                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| LabVantage Solutions Inc.                 |   | First Lien Secured Debt |   | 9.56% (1M L+800, 1.00% Floor) |   | 12/29/20 |   | 13,875 |  |   | 13,602 |  |   | 13,736 |  |   |   |
| LabVantage Solutions Limited              |   | First Lien Secured Debt |   | 9.00% (3M E+800, 1.00% Floor) |   | 12/29/20 |   | € | 12,711 |  |   | 13,402 |  |   | 15,111 |  |   | (17) |
|                                      |   | First Lien Secured Debt  - Unfunded Revolver |   | 0.50% Unfunded |   | 12/29/20 |   | € | 3,435 |  |   | (70 | ) |   | (41 | ) |   | (8)(17)(21)(23) |
|                                      |   |   |   |   |   |   |   |   |   | 26,934 |  |   | 28,806 |  |   |   |
| Nextech Systems, LLC                      |   | First Lien Secured Debt |   | 8.40% (1M L+725, 1.00% Floor) |   | 06/22/21 |   | 21,294 |  |   | 20,923 |  |   | 21,081 |  |   | (18) |
| Smokey Merger Sub, Inc.                   |   | Second Lien Secured Debt |   | 10.21% (3M L+875, 1.00% Floor) |   | 05/24/24 |   | 30,000 |  |   | 29,177 |  |   | 29,250 |  |   | (9) |
| Telestream Holdings Corporation           |   | First Lien Secured Debt |   | 7.61% (3M L +645, 1.00% Floor) |   | 03/24/22 |   | 36,840 |  |   | 36,521 |  |   | 36,104 |  |   | (18) |
| Tibco Software Inc.                       |   | First Lien Secured Debt  - Unfunded Revolver |   | 0.50% Unfunded |   | 12/05/19 |   | 6,000 |  |   | (23 | ) |   | (840 | ) |   | (8)(21)(23) |
| Total High Tech Industries                |   |   | $ | 168,788 |  |   | $ | 168,806 |  |   |   |
| Hotel, Gaming, Leisure, Restaurants       |   |   |   |   |   |   |   |   |   |   |
| GFRC Holdings LLC                         |   | First Lien Secured Debt |   | 9.56% (1M L+800 Cash (L+800 PIK Toggle), 1.50% Floor) |   | 02/01/22 |   | $ | 2,500 |  |   | $ | 2,500 |  |   | $ | 2,475 |  |   |  |
| SMG                                       |   | Second Lien Secured Debt |   | 11.75% (P+725) |   | 02/27/21 |   | 19,649 |  |   | 19,649 |  |   | 19,723 |  |   | (10) |
| Total Hotel, Gaming, Leisure, Restaurants |   |   | $ | 22,149 |  |   | $ | 22,198 |  |   |   |

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|--------------------------------------------------|
|                                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry / Company                               |   | Investment Type |   | Interest Rate (20) |   | MaturityDate |   |  Par / Shares (12) |   |  Cost (30) |   |  FairValue     (1) (31) |   |  |
| Insurance                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Alliant Holdings Intermediate, LLC               |   | First Lien Secured Debt  - Letter of Credit |   | 3.375% |   | 04/23/18 |   | $ | 37 |  |   | $ | — |  |   | $ | (1 | ) |   | (8)(23) |
|                                             |   | First Lien Secured Debt  - Letter of Credit |   | 3.375% |   | 07/30/18 |   | 96 |  |   | — |  |   | (4 | ) |   | (8)(23) |
|                                             |   | First Lien Secured Debt  - Letter of Credit |   | 3.375% |   | 05/31/19 |   | 8 |  |   | — |  |   | — |  |   | (8)(23) |
|                                             |   | First Lien Secured Debt  - Letter of Credit |   | 3.375% |   | 11/30/18 |   | 38 |  |   | — |  |   | (1 | ) |   | (8)(23) |
|                                             |   | First Lien Secured Debt  - Letter of Credit |   | 3.375% |   | 05/04/18 |   | 8 |  |   | — |  |   | — |  |   | (8)(23) |
|                                             |   | First Lien Secured Debt  - Revolver |   | 7.00% (P+250) |   | 08/14/20 |   | 1,125 |  |   | 1,125 |  |   | 1,090 |  |   | (23) |
|                                             |   | First Lien Secured Debt  - Unfunded Revolver |   | 0.50% Unfunded |   | 08/14/20 |   | 13,688 |  |   | (895 | ) |   | (431 | ) |   | (8)(21)(23) |
|                                             |   |   |   |   |   |   |   |   |   | 230 |  |   | 653 |  |   |   |
| Confie Seguros Holding II Co.                    |   | Second Lien Secured Debt |   | 10.98% (3M L+950, 1.25% Floor) |   | 05/08/19 |   | 21,844 |  |   | 21,799 |  |   | 21,162 |  |   | (10) |
| Total Insurance                                  |   |   | $ | 22,029 |  |   | $ | 21,815 |  |   |   |
| Manufacturing, Capital Equipment                 |   |   |   |   |   |   |   |   |   |   |
| ATS Consolidated, Inc.                           |   | Second Lien Secured Debt |   | 10.11% (2M L+850, 1.00% Floor) |   | 05/30/25 |   | $ | 15,000 |  |   | $ | 14,720 |  |   | $ | 15,113 |  |   | (10) |
| MedPlast Holdings Inc.                           |   | Second Lien Secured Debt |   | 10.23% (2M L+875, 1.00% Floor) |   | 06/06/23 |   | 8,000 |  |   | 7,824 |  |   | 7,800 |  |   |   |
| Power Products, LLC                              |   | Second Lien Secured Debt |   | 10.36% (3M L+900, 1.00% Floor) |   | 12/20/23 |   | 32,500 |  |   | 31,528 |  |   | 32,214 |  |   | (9) |
| Total  Manufacturing, Capital Equipment          |   |   | $ | 54,072 |  |   | $ | 55,127 |  |   |   |
| Media – Diversified & Production       |   |   |   |   |   |   |   |   |   |   |
| SESAC Holdco II LLC                              |   | First Lien Secured Debt  - Unfunded Revolver |   | 0.50% Unfunded |   | 02/23/22 |   | $ | 587 |  |   | $ | (44 | ) |   | $ | (44 | ) |   | (8)(21)(23) |
|                                             |   | Second Lien Secured Debt |   | 8.73% (3M L+725, 1.00% Floor) |   | 02/24/25 |   | 3,241 |  |   | 3,212 |  |   | 3,197 |  |   |  |
| Total Media – Diversified & Production |   |   | $ | 3,168 |  |   | $ | 3,153 |  |   |   |
| Metals & Mining                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Magnetation, LLC                                 |   | First Lien Secured Debt |   | 9.69% (3M L+800 Cash (PIK Toggle)) |   | 12/31/19 |   | $ | 1,716 |  |   | $ | 1,637 |  |   | $ | 573 |  |   | (13)(14) |
| Total Metals & Mining                        |   |   | $ | 1,637 |  |   | $ | 573 |  |   |   |
| Telecommunications                               |   |   |   |   |   |   |
| Securus Technologies Holdings, Inc.              |   | Second Lien Secured Debt |   | 9.87% (2M L+825, 1.00% Floor) |   | 11/01/25 |   | $ | 12,878 |  |   | $ | 12,752 |  |   | $ | 13,047 |  |   | (10) |
| UniTek Global Services Inc.                      |   | First Lien Secured Debt |   | 10.19% (3M L+750 Cash plus 1.00% PIK, 1.00% Floor) |   | 01/13/19 |   | 1,946 |  |   | 1,946 |  |   | 1,946 |  |   |  |
|                                             |   | First Lien Secured Debt |   | 10.19% (3M L+850, 1.00% Floor) |   | 01/13/19 |   | 32,367 |  |   | 32,367 |  |   | 33,014 |  |   |  |
|                                             |   | First Lien Secured Debt  - Letter of Credit |   | 7.50% |   | 01/13/19 |   | 5,857 |  |   | — |  |   | — |  |   | (23) |
|                                             |   | First Lien Secured Debt  - Unfunded Revolver |   | 0.50% Unfunded |   | 01/13/19 |   | 5,000 |  |   | — |  |   | — |  |   | (21)(23) |
|                                             |   | Unsecured Debt |   | 15.00% PIK |   | 07/13/19 |   | 9,552 |  |   | 9,552 |  |   | 9,743 |  |   |  |
|                                             |   |   |   |   |   |   |   |   |   | 43,865 |  |   | 44,703 |  |   |   |
| Wave Holdco Merger Sub, Inc.                     |   | Second Lien Secured Debt |   | 10.82% (1M L+925, 1.00% Floor) |   | 05/27/23 |   | 10,000 |  |   | 9,801 |  |   | 9,885 |  |   |   |
| Total Telecommunications                         |   |   | $ | 66,418 |  |   | $ | 67,635 |  |   |   |
| Transportation – Cargo, Distribution       |   |   |   |   |   |   |   |   |   |   |
| American Tire                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Accelerate Parent Corp.                          |   | Common Equity/Interests - Common Stock |   | N/A |   | N/A |   | 1,664,046 Shares |  |   | $ | 1,714 |  |   | $ | 2,110 |  |   | (13) |

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|                                                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry / Company                                                   |   | Investment Type |   | Interest Rate (20) |   | MaturityDate |   |  Par / Shares (12) |   |  Cost (30) |   |  FairValue     (1) (31) |   |  |
| American Tire Distributors, Inc.                                     |   | Unsecured Debt |   | 10.25% |   | 03/01/22 |   | $ | 14,741 |  |   | 14,800 |  |   | 15,229 |  |   | (10)(11) |
|                                                                 |   |   |   |   |   |   |   |   |   | 16,514 |  |   | 17,339 |  |   |   |
| Dynamic Product Tankers, LLC (5)                                     |   | First Lien Secured Debt  - Letter of Credit |   | 2.25% |   | 09/20/18 |   | 2,250 |  |   | — |  |   | — |  |   | (17)(23) |
|                                                                 |   | Common Equity/Interests - Class A Units |   | N/A |   | N/A |   | N/A |  |   | 48,106 |  |   | 42,479 |  |   | (17)(24) |
|                                                                 |   |   |   |   |   |   |   |   |   | 48,106 |  |   | 42,479 |  |   |   |
| MSEA Tankers LLC (5)                                                 |   | Common Equity/Interests - Class A Units |   | N/A |   | N/A |   | N/A |  |   | 74,450 |  |   | 71,883 |  |   | (17)(25) |
| PT Intermediate Holdings III, LLC                                    |   | Second Lien Secured Debt |   | 9.57% (1M L+800, 1.00% Floor) |   | 12/08/25 |   | 9,375 |  |   | 9,281 |  |   | 9,422 |  |   | (10) |
| Total Transportation – Cargo, Distribution                     |   |   | $ | 148,351 |  |   | $ | 141,123 |  |   |   |
| Utilities – Electric                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Asset Repackaging Trust Six B.V.                                     |   | Structured Products and Other |   | 13.11% |   | 05/18/27 |   | $ | 58,411 |  |   | $ | 25,928 |  |   | $ | 31,317 |  |   | (11)(17)(19) |
| Total Utilities – Electric                                     |   |   | $ | 25,928 |  |   | $ | 31,317 |  |   |   |
| Total Investments before Cash Equivalents and Option Contracts       |   |   |   | $ | 2,402,460 |  |   | $ | 2,352,562 |  |   |  |
| J.P. Morgan U.S. Government Money Market Fund                        |   | N/A |   | N/A |   | N/A |   | $ | 12,222 |  |   | $ | 12,222 |  |   | $ | 12,222 |  |   | (22) |
| Total Investments after Cash Equivalents and before Option Contracts |   |   |   | $ | 2,414,682 |  |   | $ | 2,364,784 |  |   |  |

|                                                               |
|---------------------------------------------------------------|
|                                                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Counterparty                                                  |   | Instrument |   | Exercise Price |   | Maturity Date |   | Number of Contracts |   | Notional Amount (27) |   | Cost (Proceeds) |   | Fair Value (1) |   |   |
| Purchased Put Options                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| CME Group                                                     |   | WTI Crude Oil Put Options |   | $ | 45.00 |  |   | 1/31/18 - 4/30/19 |   | 3,410 |  |   | $ | 153,450 |  |   | $ | 7,151 |  |   | $ | 2,043 |  |   | (10) |
| Total Purchased Put Options                                   |   |   |   |   |   |   |   |   |   | $ | 7,151 |  |   | $ | 2,043 |  |   | (16) |
| Written Call Options                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| CME Group                                                     |   | WTI Crude Oil Call Options |   | $ | 54.30 |  |   | 1/31/18 - 3/29/19 |   | 825 |  |   | $ | (44,798 | ) |   | $ | (2,142 | ) |   | $ | (5,443 | ) |   | (10) |
| CME Group                                                     |   | WTI Crude Oil Call Options |   | 55.00 |  |   | 1/31/18 - 3/29/19 |   | 825 |  |   | (45,375 | ) |   | (2,059 | ) |   | (5,023 | ) |   | (10) |
| CME Group                                                     |   | WTI Crude Oil Call Options |   | 57.50 |  |   | 1/31/18 - 4/30/19 |   | 880 |  |   | (50,600 | ) |   | (1,845 | ) |   | (3,880 | ) |   | (10) |
| CME Group                                                     |   | WTI Crude Oil Call Options |   | 62.70 |  |   | 1/31/18 - 4/30/19 |   | 880 |  |   | (55,176 | ) |   | (1,079 | ) |   | (1,644 | ) |   | (10) |
| Total Written Call Options                                    |   |   |   |   |   |   |   | $ | (7,125 | ) |   | $ | (15,990 | ) |   | (16) |
| Total Investments after Cash Equivalents and Option Contracts |   |   |   | $ | 2,414,708 |  |   | $ | 2,350,837 |  |   | (6)(7) |

|     |                                                                                                                     |
|-----|---------------------------------------------------------------------------------------------------------------------|
| (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 December 31, 2017, we had a 100% and 28% equity ownership interest in Golden Bear 2016-R, 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, 2017 and December 31, 2017 along with transactions during the nine months ended December 31, 2017 in these affiliated investments are as follows: |

|                                                                              |
|------------------------------------------------------------------------------|
|                                                                              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Name of Issuer                                                               | Fair Value at March 31, 2017 | Gross Additions ● | Gross Reductions ■ | Net Change in Unrealized Gains (Losses) | Fair Value at December 31, 2017 | Net Realized Gains (Losses) | Interest/Dividend/Other Income |
| AIC SPV Holdings I, LLC, Membership Interests                                | $ | 24,285 |  | $ | 35 |  | $ | (69,074 | ) | $ | 44,754 |  | $ | — |  | $ | (44,326 | ) | $ | 115 |  |
| AIC SPV Holdings II, LLC, Membership Interests                               | — |  | 534 |  | — |  | 508 |  | 1,042 |  | — |  | — |  |
| AMP Solar Group, Inc., Class A Common Unit                                   | 4,687 |  | — |  | — |  | 427 |  | 5,114 |  | — |  | — |  |
| Golden Bear 2016-R, LLC, Membership Interests                                | 17,066 |  | — |  | — |  | (1,833 | ) | 15,233 |  | — |  | — |  |
| Ivy Hill Middle Market Credit Fund IX, Ltd., Subordinated Notes              | 9,537 |  | — |  | (9,158 | ) | (379 | ) | — |  | 1,954 |  | 1,009 |  |
| Ivy Hill Middle Market Credit Fund X, Ltd., Subordinated Notes               | 10,841 |  | — |  | (11,078 | ) | 237 |  | — |  | (238 | ) | 905 |  |
| LVI Group Investments, LLC, Common Units                                     | — |  | — |  | (17,505 | ) | 17,505 |  | — |  | (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 |  | (3,033 | ) | (11,877 | ) | 11,755 |  | — |  | — |  |
| Renew Financial LLC (f/k/a Renewable Funding, LLC), Series B Preferred Stock | 19,383 |  | — |  | — |  | (356 | ) | 19,027 |  | — |  | — |  |
| Renew Financial LLC (f/k/a Renewable Funding, LLC), Series D Preferred Stock | 6,254 |  | — |  | — |  | 409 |  | 6,663 |  | — |  | — |  |
| Renew JV LLC, Membership Interests                                           | 4,701 |  | 2,988 |  | (2,832 | ) | (1,838 | ) | 3,019 |  | 7,831 |  | — |  |
| Solarplicity Group Limited, First Lien Term Loan                             | 119,426 |  | 5,064 |  | (1,310 | ) | 2,534 |  | 125,714 |  | (163 | ) | 7,422 |  |
| Solarplicity Group Limited, Class B Common Shares                            | — |  | — |  | — |  | — |  | — |  | — |  | — |  |
| Solarplicity UK Holdings Limited, Unsecured Debt                             | 2,501 |  | — |  | — |  | 204 |  | 2,705 |  | — |  | 159 |  |
| Solarplicity UK Holdings Limited, Ordinary Shares                            | 4,952 |  | — |  | — |  | 260 |  | 5,212 |  | — |  | — |  |
| 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 |  | $ | 35,286 |  | $ | (229,680 | ) | $ | 150,828 |  | $ | 195,484 |  | $ | (141,472 | ) | $ | 9,851 |  |

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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 December 31, 2017 along with transactions during the nine months ended December 31, 2017 in these Controlled investments are as follows: |

|                                                                                          |
|------------------------------------------------------------------------------------------|
|                                                                                          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Name of Issuer                                                                           | Fair Value at March 31, 2017 | Gross Additions ● | Gross Reductions ■ | Net Change in Unrealized Losses | Fair Value at December 31, 2017 | Net Realized Losses | Interest/Dividend/Other Income |
| Dynamic Product Tankers, LLC, Class A Units                                              | 42,644 |  | — |  | — |  | (165 | ) | 42,479 |  | — |  | — |  |
| Glacier Oil & Gas Corp. (f/k/a Miller Energy Resources, Inc.), First Lien Term Loan  | 10,000 |  | 5,000 |  | — |  | — |  | 15,000 |  | — |  | 832 |  |
| Glacier Oil & Gas Corp. (f/k/a Miller Energy Resources, Inc.), Second Lien Term Loan | 27,617 |  | 2,142 |  | — |  | 1 |  | 29,760 |  | — |  | 2,143 |  |
| Glacier Oil & Gas Corp. (f/k/a Miller Energy Resources, Inc.), Common Stock          | 18,862 |  | — |  | — |  | 1,133 |  | 19,995 |  | — |  | — |  |
| Glacier Oil & Gas Corp. (f/k/a Miller Energy Resources, Inc.), Unfunded Delayed Draw | — |  | — |  | — |  | — |  | — |  | — |  | — |  |
| Merx Aviation Finance Assets Ireland Limited, Letter of Credit                           | — |  | — |  | — |  | — |  | — |  | — |  | 21 |  |
| Merx Aviation Finance, LLC, Letter of Credit                                             | — |  | — |  | — |  | — |  | — |  | — |  | — |  |
| Merx Aviation Finance, LLC, Membership Interests                                         | 48,811 |  | — |  | (4,204 | ) | (3,620 | ) | 40,987 |  | — |  | 9,850 |  |
| Merx Aviation Finance, LLC, Revolver                                                     | 374,084 |  | 121,200 |  | (128,984 | ) | — |  | 366,300 |  | — |  | 37,922 |  |
| MSEA Tankers LLC, Class A Units                                                          | 72,797 |  | — |  | — |  | (914 | ) | 71,883 |  | — |  | 3,553 |  |
| SHD Oil & Gas, LLC, Series A Units                                                   | — |  | — |  | — |  | — |  | — |  | — |  | — |  |
| SHD Oil & Gas, LLC, Tranche A Note                                                   | 40,891 |  | 1,903 |  | — |  | 1,284 |  | 44,078 |  | — |  | 4,441 |  |
| SHD Oil & Gas, LLC, Tranche B Note                                                   | 32,793 |  | — |  | — |  | 945 |  | 33,738 |  | — |  | — |  |
| SHD Oil & Gas, LLC, Tranche C Note                                                   | 6,750 |  | 11,250 |  | — |  | 540 |  | 18,540 |  | — |  | 1,476 |  |
| SHD Oil & Gas, LLC, Unfunded Tranche C Note                                          | — |  | — |  | — |  | — |  | — |  | — |  | — |  |
|                                                                                     | $ | 675,249 |  | $ | 141,495 |  | $ | (133,188 | ) | $ | (796 | ) | $ | 682,760 |  | $ | — |  | $ | 60,238 |  |

|       |                                                                                                                                                                                                                                                                                                                                             |
|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | As of December 31, 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 $364,862 and $220,751, respectively. Net unrealized gain is $144,111 based on a tax cost of $2,206,727. |

|     |                                                                                                                                                                                                                                                              |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (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) | Other than the investments noted by this footnote, the fair value of the Company’s investments is determined using unobservable inputs that are significant to the overall fair value measurement. See Note 2 within the notes to the Financial Statements for more information regarding ASC 820, Fair Value Measurements (“ASC 820”). |

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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) | Par amount is 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) | Refer to Note 7 for details of the Offsetting Assets and Liabilities. On the Statement of Assets and Liabilities, the fair value of purchased put options and written call options that are settled-to-market are offset against the cash collateral posted with the clearing house and the variation margin amounting to $19,494. The net amount of $5,547 represents initial margin which is reported as cash collateral on option contracts on the Statements of Assets and Liabilities. |

|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (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 December 31, 2017, non-qualifying assets represented approximately 18.69% 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 December 31, 2017, rates for 1M L, 3M L, 6M L, 3M E, and prime are 1.56%, 1.69%, 1.84%, (0.38%), and 4.50%, respectively. |

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

|      |                                                                                                         |
|------|---------------------------------------------------------------------------------------------------------|
| (22) | This security is included in the Cash and Cash Equivalents on the Statements of Assets and Liabilities. |

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|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (23) | As of December 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 |
| Aero Operating LLC                                                | $ | 5,250 |  | $ | 2,800 |  | $ | — |  | $ | 2,450 |  |
| Alliant Holdings Intermediate, LLC                                | 15,000 |  | 1,125 |  | 187 |  | 13,688 |  |
| Altasciences US Acquisition, Inc.                                 | 4,277 |  | 285 |  | — |  | 3,992 |  |
| American Media, Inc.                                              | 1,778 |  | 1,541 |  | 154 |  | 83 |  |
| Carbonfree Caustic SPE LLC                                        | 6,111 |  | — |  | — |  | 6,111 |  |
| Dynamic Product Tankers, LLC                                      | 2,250 |  | — |  | 2,250 |  | — |  |
| Erickson Inc                                                      | 45,000 |  | 21,021 |  | 3,330 |  | 20,649 |  |
| Glacier Oil & Gas Corp. (f/k/a Miller Energy Resources, Inc.) | 20,000 |  | 15,000 |  | — |  | 5,000 |  |
| Invuity, Inc.                                                     | 2,000 |  | 969 |  | — |  | 1,031 |  |
| LabVantage Solutions Limited*                                     | 4,125 |  | — |  | — |  | 4,125 |  |
| Maxor National Pharmacy Services, LLC                             | 1,558 |  | 175 |  | — |  | 1,383 |  |
| Merx Aviation Finance Assets Ireland Limited                      | 3,600 |  | — |  | 3,600 |  | — |  |
| Merx Aviation Finance, LLC                                        | 177 |  | — |  | 177 |  | — |  |
| Newscycle Solutions, Inc.                                         | 1,757 |  | — |  | — |  | 1,757 |  |
| Oxford Immunotec, Inc.                                            | 1,000 |  | — |  | — |  | 1,000 |  |
| PSI Services, LLC*                                                | 460 |  | 238 |  | — |  | 222 |  |
| PTC Therapeutics, Inc                                             | 6,333 |  | — |  | — |  | 6,333 |  |
| Purchasing Power, LLC                                             | 20,100 |  | 17,158 |  | — |  | 2,942 |  |
| RA Outdoors, LLC                                                  | 1,200 |  | — |  | — |  | 1,200 |  |
| RiteDose Holdings I, Inc.                                         | 2,000 |  | — |  | — |  | 2,000 |  |
| SESAC Holdco II LLC                                               | 587 |  | — |  | — |  | 587 |  |
| Simplifi Holdings, Inc.                                           | 2,400 |  | — |  | — |  | 2,400 |  |
| Teladoc, Inc.                                                     | 1,667 |  | — |  | — |  | 1,667 |  |
| Ten-X, LLC                                                        | 4,680 |  | 520 |  | — |  | 4,160 |  |
| Tibco Software Inc.                                               | 6,000 |  | — |  | — |  | 6,000 |  |
| TricorBraun Holdings, Inc.                                        | 5,626 |  | 1,523 |  | — |  | 4,103 |  |
| UniTek Global Services Inc.                                       | 10,857 |  | — |  | 5,857 |  | 5,000 |  |
| Wright Medical Group, Inc.                                        | 50,000 |  | 18,333 |  | — |  | 31,667 |  |
| Total Commitments                                                 | $ | 225,793 |  | $ | 80,688 |  | $ | 15,555 |  | $ | 129,550 |  |

|      |                                                                                                                                                                                                                                                                                                                                                                             |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (24) | As of December 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 December 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 December 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) | The notional value represents the number of contracts open multiplied by the exercise price as of December 31, 2017. |

|      |                                                                                                                                                                                                                                                                                |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (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 Acquisition, 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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Table of Contents

|      |                                                                                                                                                                    |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (30) | The following shows the composition of the Company’s portfolio at cost by control designation, investment type and by industry as of December 31, 2017: |

|                                                                |
|----------------------------------------------------------------|
|                                                                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry                                                       | First Lien - Secured Debt | Second Lien - Secured Debt | Unsecured Debt | Structured Products and Other | Preferred Equity | Common Equity/Interests | Warrants | Total |
| Non-Controlled / Non-Affiliated Investments                    |   |   |   |   |   |   |
| Advertising, Printing & Publishing                         | $ | 27,223 |  | $ | 9,960 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 37,183 |  |
| Aerospace & Defense                                        | 20,628 |  | 46,942 |  | — |  | — |  | — |  | — |  | — |  | 67,570 |  |
| Automotive                                                     | — |  | 26,534 |  | — |  | — |  | — |  | — |  | — |  | 26,534 |  |
| Business Services                                              | 112,363 |  | 245,755 |  | 80,000 |  | — |  | — |  | 4,500 |  | — |  | 442,618 |  |
| Chemicals, Plastics & Rubber                               | 59,305 |  | 14,412 |  | — |  | — |  | — |  | — |  | — |  | 73,717 |  |
| Consumer Goods – Durable                                 | 14,654 |  | 24,633 |  | — |  | — |  | — |  | — |  | — |  | 39,287 |  |
| Consumer Goods – Non-Durable                             | — |  | 25,119 |  | — |  | — |  | — |  | — |  | — |  | 25,119 |  |
| Consumer Services                                              | — |  | 24,601 |  | — |  | — |  | — |  | — |  | — |  | 24,601 |  |
| Containers, Packaging & Glass                              | 1,127 |  | 18,107 |  | — |  | — |  | — |  | — |  | — |  | 19,234 |  |
| Diversified Investment Vehicles, Banking, Finance, Real Estate | 17,109 |  | 7,936 |  | — |  | 53,443 |  | — |  | — |  | — |  | 78,488 |  |
| Energy – Electricity                                     | 39,727 |  | — |  | — |  | — |  | — |  | — |  | — |  | 39,727 |  |
| Food & Grocery                                             | 19,569 |  | 24,772 |  | — |  | — |  | — |  | — |  | — |  | 44,341 |  |
| Healthcare & Pharmaceuticals                               | 105,508 |  | 80,013 |  | — |  | — |  | — |  | — |  | 180 |  | 185,701 |  |
| High Tech Industries                                           | 119,514 |  | 49,274 |  | — |  | — |  | — |  | — |  | — |  | 168,788 |  |
| Hotel, Gaming, Leisure, Restaurants                            | 2,500 |  | 19,649 |  | — |  | — |  | — |  | — |  | — |  | 22,149 |  |
| Insurance                                                      | 230 |  | 21,799 |  | — |  | — |  | — |  | — |  | — |  | 22,029 |  |
| Manufacturing, Capital Equipment                               | — |  | 54,072 |  | — |  | — |  | — |  | — |  | — |  | 54,072 |  |
| Media – Diversified & Production                     | (44 | ) | 3,212 |  | — |  | — |  | — |  | — |  | — |  | 3,168 |  |
| Metals & Mining                                            | 1,637 |  | — |  | — |  | — |  | — |  | — |  | — |  | 1,637 |  |
| Telecommunications                                             | 34,313 |  | 22,553 |  | 9,552 |  | — |  | — |  | — |  | — |  | 66,418 |  |
| Transportation – Cargo, Distribution                     | — |  | 9,281 |  | 14,800 |  | — |  | — |  | 1,714 |  | — |  | 25,795 |  |
| Utilities – Electric                                     | — |  | — |  | — |  | 25,928 |  | — |  | — |  | — |  | 25,928 |  |
| Total Non-Controlled / Non-Affiliated  Investments             | $ | 575,363 |  | $ | 728,624 |  | $ | 104,352 |  | $ | 79,371 |  | $ | — |  | $ | 6,214 |  | $ | 180 |  | $ | 1,494,104 |  |
| Non-Controlled / Affiliated Investments                        |   |   |   |   |   |   |
| Diversified Investment Vehicles, Banking, Finance, Real Estate | $ | — |  | $ | — |  | $ | — |  | $ | 16,459 |  | $ | — |  | $ | — |  | $ | — |  | $ | 16,459 |  |
| Energy – Electricity                                     | 150,352 |  | — |  | 2,499 |  | — |  | 13,911 |  | 15,126 |  | — |  | 181,888 |  |
| Energy – Oil & Gas                                   | — |  | — |  | — |  | — |  | — |  | 24,730 |  | — |  | 24,730 |  |
| Total Non-Controlled / Affiliated Investments                  | $ | 150,352 |  | $ | — |  | $ | 2,499 |  | $ | 16,459 |  | $ | 13,911 |  | $ | 39,856 |  | $ | — |  | $ | 223,077 |  |
| Controlled Investments                                         |   |   |   |   |   |   |   |   |
| Aviation and Consumer Transport                                | 366,300 |  | — |  | — |  | — |  | — |  | 15,000 |  | — |  | 381,300 |  |
| Energy – Oil & Gas                                   | 120,174 |  | 29,760 |  | — |  | — |  | — |  | 31,489 |  | — |  | 181,423 |  |
| Transportation – Cargo, Distribution                     | — |  | — |  | — |  | — |  | — |  | 122,556 |  | — |  | 122,556 |  |
| Total Controlled Investments                                   | $ | 486,474 |  | $ | 29,760 |  | $ | — |  | $ | — |  | $ | — |  | $ | 169,045 |  | $ | — |  | $ | 685,279 |  |
| Total                                                          | 1,212,189 |  | 758,384 |  | 106,851 |  | 95,830 |  | 13,911 |  | 215,115 |  | 180 |  | 2,402,460 |  |

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Table of Contents

|      |                                                                                                                                                                               |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (31) | The following shows the composition of the Company’s portfolio at fair value by control designation, investment type and by industry as of December 31, 2017: |

|                                                                |
|----------------------------------------------------------------|
|                                                                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry                                                       | First Lien - Secured Debt | Second Lien - Secured Debt | Unsecured Debt | Structured Products and Other | Preferred Equity | Common Equity/Interests | Warrants | Total | % of Net Assets |
| Non-Controlled / Non-Affiliated Investments                    |   |   |   |   |   |   |   |
| Advertising, Printing & Publishing                         | $ | 27,934 |  | $ | 10,148 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 38,082 |  | 2.7 | % |
| Aerospace & Defense                                        | 20,346 |  | 47,822 |  | — |  | — |  | — |  | — |  | — |  | 68,168 |  | 4.7 | % |
| Automotive                                                     | — |  | 26,595 |  | — |  | — |  | — |  | — |  | — |  | 26,595 |  | 1.8 | % |
| Business Services                                              | 111,422 |  | 247,143 |  | 80,000 |  | — |  | — |  | 4,500 |  | — |  | 443,065 |  | 30.8 | % |
| Chemicals, Plastics & Rubber                               | 49,036 |  | 15,974 |  | — |  | — |  | — |  | — |  | — |  | 65,010 |  | 4.5 | % |
| Consumer Goods – Durable                                 | 14,651 |  | 24,630 |  | — |  | — |  | — |  | 470 |  | — |  | 39,751 |  | 2.8 | % |
| Consumer Goods – Non-Durable                             | — |  | 25,148 |  | — |  | — |  | — |  | — |  | — |  | 25,148 |  | 1.7 | % |
| Consumer Services                                              | — |  | 24,598 |  | — |  | — |  | — |  | — |  | — |  | 24,598 |  | 1.7 | % |
| Containers, Packaging & Glass                              | 1,526 |  | 9,069 |  | — |  | — |  | — |  | — |  | — |  | 10,595 |  | 0.7 | % |
| Diversified Investment Vehicles, Banking, Finance, Real Estate | 17,119 |  | 8,110 |  | — |  | 51,334 |  | — |  | — |  | — |  | 76,563 |  | 5.3 | % |
| Energy – Electricity                                     | 40,000 |  | — |  | — |  | — |  | — |  | — |  | — |  | 40,000 |  | 2.8 | % |
| Food & Grocery                                             | 19,551 |  | 25,125 |  | — |  | — |  | — |  | — |  | — |  | 44,676 |  | 3.1 | % |
| Healthcare & Pharmaceuticals                               | 106,505 |  | 68,048 |  | — |  | — |  | — |  | — |  | 129 |  | 174,682 |  | 12.1 | % |
| High Tech Industries                                           | 119,240 |  | 49,566 |  | — |  | — |  | — |  | — |  | — |  | 168,806 |  | 11.7 | % |
| Hotel, Gaming, Leisure, Restaurants                            | 2,475 |  | 19,723 |  | — |  | — |  | — |  | — |  | — |  | 22,198 |  | 1.5 | % |
| Insurance                                                      | 653 |  | 21,162 |  | — |  | — |  | — |  | — |  | — |  | 21,815 |  | 1.5 | % |
| Manufacturing, Capital Equipment                               | — |  | 55,127 |  | — |  | — |  | — |  | — |  | — |  | 55,127 |  | 3.8 | % |
| Media – Diversified & Production                     | (44 | ) | 3,197 |  | — |  | — |  | — |  | — |  | — |  | 3,153 |  | 0.3 | % |
| Metals & Mining                                            | 573 |  | — |  | — |  | — |  | — |  | — |  | — |  | 573 |  | 0% |  |
| Telecommunications                                             | 34,960 |  | 22,932 |  | 9,743 |  | — |  | — |  | — |  | — |  | 67,635 |  | 4.7 | % |
| Transportation – Cargo, Distribution                     | — |  | 9,422 |  | 15,229 |  | — |  | — |  | 2,110 |  | — |  | 26,761 |  | 1.9 | % |
| Utilities – Electric                                     | — |  | — |  | — |  | 31,317 |  | — |  | — |  | — |  | 31,317 |  | 2.2 | % |
| Total Non-Controlled / Non-Affiliated Investments              | $ | 565,947 |  | $ | 713,539 |  | $ | 104,972 |  | $ | 82,651 |  | $ | — |  | $ | 7,080 |  | $ | 129 |  | $ | 1,474,318 |  | 102.3 | % |
| % of Net Assets                                                | 39.3 | % | 49.5 | % | 7.3 | % | 5.7 | % | — | % | 0.5 | % | 0% |  | 102.3 | % |   |
| Non-Controlled / Affiliated Investments                        |   |   |   |   |   |   |   |
| Diversified Investment Vehicles, Banking, Finance, Real Estate | $ | — |  | $ | — |  | $ | — |  | $ | 15,233 |  | $ | — |  | $ | — |  | $ | — |  | $ | 15,233 |  | 1.1 | % |
| Energy – Electricity                                     | 125,714 |  | — |  | 2,705 |  | — |  | 25,690 |  | 14,387 |  | — |  | 168,496 |  | 11.7 | % |
| Energy – Oil & Gas                                   | — |  | — |  | — |  | — |  | — |  | 11,755 |  | — |  | 11,755 |  | 0.8 | % |
| Total Non-Controlled / Affiliated Investments                  | $ | 125,714 |  | $ | — |  | $ | 2,705 |  | $ | 15,233 |  | $ | 25,690 |  | $ | 26,142 |  | $ | — |  | $ | 195,484 |  | 13.6 | % |
| % of Net Assets                                                | 8.7 | % | — | % | 0.2 | % | 1.1 | % | 1.8 | % | 1.8 | % | — | % | 13.6 | % |   |
| Controlled Investments                                         |   |   |   |   |   |   |   |
| Aviation and Consumer Transport                                | $ | 366,300 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 40,987 |  | $ | — |  | $ | 407,287 |  | 28.3 | % |
| Energy – Oil & Gas                                   | 111,356 |  | 29,760 |  | — |  | — |  | — |  | 19,995 |  | — |  | 161,111 |  | 11.2 | % |
| Transportation – Cargo, Distribution                     | — |  | — |  | — |  | — |  | — |  | 114,362 |  | — |  | 114,362 |  | 7.9 | % |
| Total Controlled Investments                                   | $ | 477,656 |  | $ | 29,760 |  | $ | — |  | $ | — |  | $ | — |  | $ | 175,344 |  | $ | — |  | $ | 682,760 |  | 47.4 | % |
| % of Net Assets                                                | 33.1 | % | 2.1 | % | — | % | — | % | — | % | 12.2 | % | — | % | 47.4 | % |   |
| Total                                                          | $ | 1,169,317 |  | $ | 743,299 |  | $ | 107,677 |  | $ | 97,884 |  | $ | 25,690 |  | $ | 208,566 |  | $ | 129 |  | $ | 2,352,562 |  | 163.3 | % |
| % of Net Assets                                                | 81.1 | % | 51.6 | % | 7.5 | % | 6.8 | % | 1.8 | % | 14.5 | % | 0% |  | 163.3 | % |   |

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|                                                                |  |
| Industry Classification                                        | Percentage of Total Investments (at Fair Value) as of December 31, 2017 |
| Business Services                                              | 18.8% |
| Aviation and Consumer Transport                                | 17.3% |
| Energy – Electricity                                     | 8.9% |
| Healthcare & Pharmaceuticals                               | 7.4% |
| Energy – Oil & Gas                                   | 7.3% |
| High Tech Industries                                           | 7.2% |
| Transportation – Cargo, Distribution                     | 6.0% |
| Diversified Investment Vehicles, Banking, Finance, Real Estate | 3.9% |
| Aerospace & Defense                                        | 2.9% |
| Telecommunications                                             | 2.9% |
| Chemicals, Plastics & Rubber                               | 2.8% |
| Manufacturing, Capital Equipment                               | 2.3% |
| Food & Grocery                                             | 1.9% |
| Consumer Goods – Durable                                 | 1.7% |
| Advertising, Printing & Publishing                         | 1.6% |
| Utilities – Electric                                     | 1.3% |
| Automotive                                                     | 1.1% |
| Consumer Goods – Non-durable                             | 1.1% |
| Consumer Services                                              | 1.0% |
| Hotel, Gaming, Leisure, Restaurants                            | 1.0% |
| Insurance                                                      | 0.9% |
| Containers, Packaging & Glass                              | 0.5% |
| Media – Diversified & Production                     | 0.1% |
| Metals & Mining                                            | 0.1% |
| Total Investments                                              | 100.0% |

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|                                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry / Company                               |   | Investment Type |   | Interest Rate (20) |   | MaturityDate |   |  Par / Shares (12) |   |  Cost (28) |   |  FairValue     (1) (29) |   |   |
| Advertising, Printing & Publishing           |   |   |   |   |   |   |
| A-L Parent LLC                                   |   | Second Lien Secured Debt |   | 8.25% (1M L+725, 1.00% Floor) |   | 12/02/24 |   | $ | 10,048 |  |   | $ | 9,951 |  |   | $ | 10,023 |  |   | (10) |
| American Media, Inc.                             |   | First Lien Secured Debt |   | 8.50% (1M L+750, 1.00% Floor) |   | 08/24/20 |   | 15,467 |  |   | 15,048 |  |   | 15,467 |  |   | (16) |
|                                             |   | First Lien Secured Debt - Letter of Credit |   | 7.50% |   | 08/24/20 |   | 154 |  |   | — |  |   | — |  |   | (16)(23) |
|                                             |   | First Lien Secured Debt - Revolver |   | 8.56% (3M L+750, 1.00% Floor) |   | 08/24/20 |   | 770 |  |   | 770 |  |   | 770 |  |   | (16)(23) |
|                                             |   | First Lien Secured Debt -Unfunded Revolver |   | 0.50% Unfunded |   | 08/24/20 |   | 854 |  |   | (45 | ) |   | — |  |   | (16)(21)(23) |
|                                             |   |   |   |   |   |   |   |   |   | 15,773 |  |   | 16,237 |  |   |   |
| Total Advertising, Printing & Publishing     |   |   | $ | 25,724 |  |   | $ | 26,260 |  |   |   |
| Aerospace & Defense                          |   |   |   |   |   |   |
| PAE Holding Corporation                          |   | Second Lien Secured Debt |   | 10.50% (1M L+950, 1.00% Floor) |   | 10/20/23 |   | $ | 22,026 |  |   | $ | 21,297 |  |   | $ | 22,246 |  |  | (10) |
| Total Aerospace & Defense                    |   |   | $ | 21,297 |  |   | $ | 22,246 |  |   |   |
|  Automotive                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| K&N Parent, Inc.                             |   | Second Lien Secured Debt |   | 9.75% (3M L+875, 1.00% Floor) |   | 10/21/24 |   | $ | 30,000 |  |   | $ | 29,425 |  |   | $ | 29,849 |  |   |   |
| Total Automotive                                 |   |   | $ | 29,425 |  |   | $ | 29,849 |  |   |   |
| Aviation and Consumer Transport                  |   |   |   |   |   |   |   |   |   |   |
| Merx Aviation                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Merx Aviation Finance Assets Ireland Limited (5) |   | First Lien Secured Debt - Letter of Credit |   | 2.25% |   | 09/30/17 |   | $ | 3,600 |  |   | $ | — |  |   | $ | — |  |   | (16)(23) |
| Merx Aviation Finance, LLC (5)                   |   | Common Equity/Interests - Membership Interests |   | N/A |   | N/A |   | N/A |  |   | 19,204 |  |   | 48,811 |  |   |   |
|                                             |   | First Lien Secured Debt - Letter of Credit |   | 2.25% |   | 07/31/17 |   | 177 |  |   | — |  |   | — |  |   | (16)(23) |
|                                             |   | First Lien Secured Debt - Revolver |   | 12.00% |   | 10/31/18 |   | 374,084 |  |   | 374,084 |  |   | 374,084 |  |   | (16)(23) |
|                                             |   | First Lien Secured Debt - Unfunded Revolver |   | 0.00% Unfunded |   | 10/31/18 |   | 125,916 |  |   | — |  |   | — |  |   | (16)(21)(23) |
| Total Aviation and Consumer Transport            |   |   | $ | 393,288 |  |   | $ | 422,895 |  |   |   |
| Broadcasting & Subscription                  |   |   |   |   |   |   |   |   |   |   |
| SiTV, Inc.                                       |   | Second Lien Secured Debt |   | 10.38% |   | 07/01/19 |   | $ | 2,219 |  |   | $ | 2,219 |  |   | $ | 1,340 |  |   | (10)(11) |
| Total Broadcasting & Subscription            |   |   | $ | 2,219 |  |   | $ | 1,340 |  |   |   |
| Business Services                                |   |   |   |   |   |   |   |   |   |   |
| Access CIG, LLC                                  |   | Second Lien Secured Debt |   | 9.78% (3M L+875, 1.00% Floor) |   | 10/17/22 |   | $ | 50,970 |  |   | $ | 49,054 |  |   | $ | 51,313 |  |   | (16) |
| Active Network, LLC                              |   | Second Lien Secured Debt |   | 10.50% (1M L+950, 1.00% Floor) |   | 11/15/21 |   | 17,875 |  |   | 17,712 |  |   | 17,819 |  |   | (10) |
| Appriss Holdings, Inc.                           |   | Second Lien Secured Debt |   | 10.40% (3M L+925, 1.00% Floor) |   | 05/21/21 |   | 23,309 |  |   | 23,057 |  |   | 23,309 |  |   |   |
| Aptean, Inc.                                     |   | Second Lien Secured Debt |   | 10.50% (1M L+950, 1.00% Floor) |   | 12/20/23 |   | 9,548 |  |   | 9,409 |  |   | 9,571 |  |   | (10) |
| Electro Rent Corporation                         |   | Second Lien Secured Debt |   | 10.00% (1M L+900, 1.00% Floor) |   | 01/31/25 |   | 18,333 |  |   | 17,795 |  |   | 17,967 |  |   | (9) |
| GCA Services Group, Inc.                         |   | Second Lien Secured Debt |   | 10.05% (3M L+900, 1.00% Floor) |   | 03/01/24 |   | 16,250 |  |   | 16,022 |  |   | 16,189 |  |   | (10) |
| Institutional Shareholder Services, Inc.         |   | Second Lien Secured Debt |   | 9.61% (3M L+850, 1.00% Floor) |   | 04/30/22 |   | 8,232 |  |   | 8,162 |  |   | 8,314 |  |   |   |
| Ministry Brands, LLC                             |   | Second Lien Secured Debt |   | 10.25% (1M L+925, 1.00% Floor) |   | 06/02/23 |   | 10,000 |  |   | 9,856 |  |   | 9,851 |  |   | (16)(23) |
| My Alarm Center, LLC                             |   | First Lien Secured Debt -  Revolver |   | 11.00% (P+700) |   | 01/09/19 |   | 5,083 |  |   | 5,083 |  |   | 5,083 |  |   | (16)(23) |
|                                             |   | First Lien Secured Debt -  Term Loan A |   | 9.00% (1M L+800, 1.00% Floor) |   | 01/09/19 |   | 28,035 |  |   | 28,035 |  |   | 28,035 |  |   | (16) |

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|                                             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry / Company                          |   | Investment Type |   | Interest Rate (20) |   | MaturityDate |   |  Par / Shares (12) |   |  Cost (28) |   |  FairValue     (1) (29) |   |   |
|                                        |   | First Lien Secured Debt - Term Loan B |   | 9.00% (1M L+800, 1.00% Floor) |   | 01/09/19 |   | 8,320 |  |   | 8,320 |  |   | 8,320 |  |   | (16)(23) |
|                                        |   | First Lien Secured Debt - Term Loan C |   | 9.00% (1M L+800, 1.00% Floor) |   | 01/09/19 |   | 3,554 |  |   | 3,554 |  |   | 3,554 |  |   | (16)(23) |
|                                        |   | First Lien Secured Debt - Unfunded Revolver |   | 0.35% Unfunded |   | 01/09/19 |   | 1,167 |  |   | — |  |   | — |  |   | (16)(21)(23) |
|                                        |   | First Lien Secured Debt - Unfunded Term Loan B |   | 0.35% Unfunded |   | 01/09/19 |   | 441 |  |   | — |  |   | — |  |   | (16)(21)(23) |
|                                        |   | First Lien Secured Debt -  Unfunded Term Loan C |   | 0.35% Unfunded |   | 01/09/19 |   | 557 |  |   | — |  |   | — |  |   | (16)(21)(23) |
|                                        |   |   |   |   |   |   |   |   |   | 44,992 |  |   | 44,992 |  |   |   |
| Poseidon Merger Sub, Inc.                   |   | Second Lien Secured Debt |   | 9.56% (3M L+850, 1.00% Floor) |   | 08/15/23 |   | 18,000 |  |   | 17,568 |  |   | 18,000 |  |   |   |
| PSI Services, LLC                           |   | First Lien Secured Debt |   | 6.00% (1M L+500, 1.00% Floor) |   | 01/20/23 |   | 7,698 |  |   | 7,511 |  |   | 7,508 |  |   | (9)(16) |
|                                        |   | First Lien Secured Debt - Revolver |   | 6.00% (3M L+500, 1.00% Floor) |   | 01/20/22 |   | 198 |  |   | 198 |  |   | 194 |  |   | (9)(16)(23) |
|                                        |   | First Lien Secured Debt - Unfunded Revolver |   | 0.50% Unfunded |   | 01/20/22 |   | 198 |  |   | (10 | ) |   | (5 | ) |   | (8)(9)(16)(21)(23) |
|                                        |   | First Lien Secured Debt - Unfunded Revolver |   | 0.50% Unfunded |   | 01/20/22 |   | £ | 47 |  |   | — |  |   | — |  |   | (9)(16)(21)(23) |
|                                        |   | Second Lien Secured Debt |   | 10.00% (1M L+900, 1.00% Floor) |   | 01/20/24 |   | 25,714 |  |   | 24,964 |  |   | 24,950 |  |   | (9)(16) |
|                                        |   |   |   |   |   |   |   |   |   | 32,663 |  |   | 32,647 |  |   |   |
| SCM Insurance Services, Inc.                |   | First Lien Secured Debt |   | 9.25% |   | 08/22/19 |   | C$ | 39,480 |  |   | 33,387 |  |   | 25,527 |  |   | (17) |
| Dodge Data/Skyline Data                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Dodge Data & Analytics LLC              |   | First Lien Secured Debt |   | 9.94% (3M L+875, 1.00% Floor) |   | 10/31/19 |   | 51,234 |  |   | 50,647 |  |   | 49,825 |  |   |    |
| Skyline Data, News and Analytics LLC        |   | Common Equity/Interest - Class A Common Unit |   | N/A |   | N/A |   | 4,500,000 Shares |  |   | 4,500 |  |   | 4,500 |  |   | (13) |
|                                        |   |   |   |   |   |   |   |   |   | 55,147 |  |   | 54,325 |  |   |   |
| Sterling Holdings Ultimate Parent, Inc.     |   | Second Lien Secured Debt |   | 9.40% (3M L+825, 1.00% Floor) |   | 06/19/23 |   | 20,000 |  |   | 19,824 |  |   | 19,800 |  |   |   |
| STG-Fairway Acquisitions, Inc.              |   | Second Lien Secured Debt |   | 10.30% (3M L+925, 1.00% Floor) |   | 06/30/23 |   | 15,000 |  |   | 14,685 |  |   | 14,663 |  |   |   |
| U.S. Security Associates Holdings, Inc.     |   | Unsecured Debt |   | 11.00% |   | 07/28/18 |   | 135,000 |  |   | 135,000 |  |   | 135,000 |  |   |   |
| Velocity Technology Solutions, Inc.         |   | Second Lien Secured Debt |   | 9.50% (3M L+825, 1.25% Floor) |   | 09/28/20 |   | 16,500 |  |   | 16,298 |  |   | 16,335 |  |   |   |
| Total Business Services                     |   |   | $ | 520,631 |  |   | $ | 515,622 |  |   |   |
| Chemicals, Plastics & Rubber            |   |   |   |   |   |   |   |   |   |   |
| Avantor Performance Materials Holdings, LLC |   | First Lien Secured Debt - Letter of Credit |   | 4.00% |   | 03/10/18 |   | $ | 72 |  |   | $ | 1 |  |   | $ | — |  |   | (16)(23) |
|                                        |   | First Lien Secured Debt - Unfunded Revolver |   | 0.50% Unfunded |   | 03/10/22 |   | 4,928 |  |   | (617 | ) |   | (13 | ) |   | (8)(16)(21)(23) |
|                                        |   | Second Lien Secured Debt |   | 9.25% (1M L+825, 1.00% Floor) |   | 03/10/25 |   | 737 |  |   | 730 |  |   | 742 |  |   | (10)(16) |
|                                        |   | Second Lien Secured Debt - Unfunded Delayed Draw |   | 0.00% Unfunded |   | 03/10/25 |   | 892 |  |   | (9 | ) |   | — |  |   | (10)(16)(21)(23) |
|                                        |   |   |   |   |   |   |   |   |   | 105 |  |   | 729 |  |   |   |
| Hare Bidco, Inc.                            |   | Second Lien Secured Debt |   | 9.75% (3M L+875, 1.00% Floor) |   | 08/01/24 |   | € | 13,574 |  |   | 14,381 |  |   | 14,228 |  |   |   |
| Maxus Capital Carbon SPE I, LLC             |   | First Lien Secured Debt |   | 5.22% PIK |   | 12/31/18 |   | 59,305 |  |   | 59,305 |  |   | 50,585 |  |   |   |
| Total Chemical, Plastics & Rubber       |   |   | $ | 73,791 |  |   | $ | 65,542 |  |   |   |
| Consumer Goods – Durable              |   |   |   |   |   |   |   |   |   |   |   |   |
| Sequential Brands Group, Inc.               |   | Second Lien Secured Debt |   | 9.83% (1M L+900) |   | 07/01/22 |   | $ | 17,512 |  |   | $ | 17,319 |  |   | $ | 17,252 |  |   | (17) |

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|                                                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry / Company                                                   |   | Investment Type |   | Interest Rate (20) |   | MaturityDate |   |  Par / Shares (12) |   |  Cost (28) |   |  FairValue     (1) (29) |   |   |
| Sorenson Holdings, LLC                                               |   | Common Equity/Interest - Membership Interests |   | N/A |   | N/A |   | 587 Shares |  |   | — |  |   | 231 |  |   | (13) |
|                                                                 |   | Unsecured Debt |   | 13.85% Cash (13.85% PIK Toggle) |   | 10/31/21 |   | 52 |  |   | 35 |  |   | 47 |  |   | (10)(11) |
|                                                                 |   |   |   |   |   |   |   |   |   | 35 |  |   | 278 |  |   |   |
| Total Consumer Goods - Durable                                       |   |   | $ | 17,354 |  |   | $ | 17,530 |  |   |   |
| Containers, Packaging & Glass                                    |   |   |   |   |   |   |   |   |   |   |
| Sprint Industrial Holdings, LLC                                      |   | Second Lien Secured Debt |   | 13.50% PIK |   | 11/14/19 |   | $ | 16,707 |  |   | $ | 16,213 |  |   | $ | 9,297 |  |   |   |
| TricorBraun Holdings, Inc.                                           |   | First Lien Secured Debt - Revolver |   | 6.25% (P+225) |   | 11/30/21 |   | 960 |  |   | 960 |  |   | 960 |  |   | (16)(23) |
|                                                                 |   | First Lien Secured Debt - Unfunded Revolver |   | 0.50% Unfunded |   | 11/30/21 |   | 4,665 |  |   | (472 | ) |   | — |  |   | (16)(21)(23) |
|                                                                 |   | 488 |  |   | 960 |  |   |   |
| Total Containers, Packaging & Glass                              |   |   | $ | 16,701 |  |   | $ | 10,257 |  |   |   |
| Diversified Investment Vehicles, Banking, Finance, Real Estate       |   |   |   |   |   |   |   |   |   |   |
| Armor Holding II LLC                                                 |   | Second Lien Secured Debt |   | 10.25% (3M L+900, 1.25% Floor) |   | 12/26/20 |   | $ | 8,000 |  |   | $ | 7,906 |  |   | $ | 8,000 |  |   | (10) |
| AIC SPV Holdings I, LLC (4)(15)                                      |   | Common Equity/Interest - Membership Interests |   | N/A |   | N/A |   | N/A |  |   | 69,040 |  |   | 24,285 |  |   | (17)(23) |
| Craft 2013-1                                                         |   | Structured Products and Other - Credit-Linked Note |   | 9.98% (3M L+925) |   | 04/17/22 |   | 7,625 |  |   | 7,694 |  |   | 7,625 |  |   | (16)(17) |
|                                                                 |   | Structured Products and Other - Credit-Linked Note |   | 10.31% (3M L+925) |   | 04/17/22 |   | 25,000 |  |   | 25,013 |  |   | 25,000 |  |   | (11)(16)(17) |
|                                                                 |   |   |   |   |   |   |   |   |   | $ | 32,707 |  |   | $ | 32,625 |  |   |   |
| Craft 2014-1A                                                        |   | Structured Products and Other - Credit-Linked Note |   | 10.89% (3M L+965) |   | 05/15/21 |   | $ | 42,500 |  |   | $ | 42,376 |  |   | $ | 41,820 |  |   | (11)(17) |
| Craft 2015-2                                                         |   | Structured Products and Other - Credit-Linked Note |   | 10.31% (3M L+925) |   | 01/16/24 |   | 26,000 |  |   | 25,827 |  |   | 25,389 |  |   | (11)(17) |
| Golden Bear 2016-R, LLC (3)(4)                                       |   | Structured Products and Other - Membership Interests |   | N/A |   | 09/20/42 |   | N/A |  |   | 16,459 |  |   | 17,066 |  |   | (17)(22) |
| Ivy Hill Middle Market Credit Fund IX, Ltd. (3)(4)                   |   | Structured Products and Other - Subordinated Notes |   | 13.34% |   | 10/18/25 |   | 12,500 |  |   | 9,158 |  |   | 9,537 |  |   | (11)(17)(22) |
| Ivy Hill Middle Market Credit Fund X, Ltd. (3)(4)                    |   | Structured Products and Other - Subordinated Notes |   | 11.25% |   | 07/18/27 |   | 14,000 |  |   | 11,078 |  |   | 10,841 |  |   | (11)(17)(22) |
| Total Diversified Investment Vehicles, Banking, Finance, Real Estate |   |   | $ | 214,551 |  |   | $ | 169,563 |  |   |   |
| Education                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Delta/Gryphon                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Delta Career Education Corporation                                   |   | Preferred Equity - Super Senior Preferred Stock A |   | N/A |   | N/A |   | 7,812  Shares |  |   | $ | 7,049 |  |   | $ | — |  |   | (13) |
|                                                                 |   | Preferred Equity - Super Senior Preferred Stock B |   | N/A |   | N/A |   | 10,585 Shares |  |   | 8,788 |  |   | — |  |   | (13) |
|                                                                 |   | Preferred Equity - Super Senior Preferred Stock C |   | N/A |   | N/A |   | 23,769 Shares |  |   | 20,665 |  |   | — |  |   | (13) |
| Gryphon Colleges Corp.                                               |   | Common Equity/Interest - Common Stock |   | N/A |   | N/A |   | 17,500 Shares |  |   | 175 |  |   | — |  |   | (13) |
|                                                                 |   | Preferred Equity - Preferred Stock |   | 13.50% PIK |   | N/A |   | 12,360 Shares |  |   | 27,685 |  |   | — |  |   | (13)(14) |
|                                                                 |   | Preferred Equity - Preferred Stock |   | 12.50% PIK |   | N/A |   | 332,500 Shares |  |   | 6,863 |  |   | — |  |   | (13)(14) |
|                                                                 |   | Warrants - Class A-1 Preferred Stock Warrants |   | N/A |   | N/A |   | 45,947  Warrants |  |   | 460 |  |   | — |  |   | (13) |

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|                                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry / Company                                                    |   | Investment Type |   | Interest Rate (20) |   | MaturityDate |   |  Par / Shares (12) |   |  Cost (28) |   |  FairValue     (1) (29) |   |   |
|                                                                  |   | Warrants - Class B-1 Preferred Stock Warrants |   | N/A |   | N/A |   | 104,314 Warrants |  |   | 1,043 |  |   | — |  |   | (13) |
|                                                                  |   | Warrants - Common Stock Warrants |   | N/A |   | N/A |   | 9,820 Warrants |  |   | 98 |  |   | — |  |   | (13) |
| Total Education                                                       |   |   | $ | 72,826 |  |   | $ | — |  |   |   |
| Energy – Electricity                                            |   |   |   |   |   |   |   |   |   |   |   |   |
| AMP Solar Group, Inc. (4)                                             |   | Common Equity/Interest - Class A Common Unit |   | N/A |   | N/A |   | 243,646 Shares |  |   | $ | 10,000 |  |   | $ | 4,687 |  |   | (13)(17) |
| Renew Financial                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Renew Financial LLC (f/k/a Renewable Funding, LLC) (4)                |   | Preferred Equity - Series B Preferred Stock |   | N/A |   | N/A |   | 1,505,868 Shares |  |   | 8,343 |  |   | 19,383 |  |   | (13) |
|                                                                  |   | Preferred Equity - Series D Preferred Stock |   | N/A |   | N/A |   | 436,689  Shares |  |   | 5,568 |  |   | 6,254 |  |   | (13) |
| Renew JV LLC (4)                                                      |   | Common Equity/Interest - Membership Interests |   | N/A |   | N/A |   | 1,959,906 Shares |  |   | 1,960 |  |   | 4,701 |  |   | (13)(17) |
|                                                                  |   |   |   |   |   |   |   |   |   | 15,871 |  |   | 30,338 |  |   |   |
| Solarplicity Group                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Solarplicity Group Limited (3)(4)                                     |   | Common Equity/Interest - Class B Common Shares |   | N/A |   | N/A |   | 2,825 Shares |  |   | 2,472 |  |   | — |  |   | (2)(13)(17)(26) |
|                                                                  |   | First Lien - Secured Debt |   | 8.00% Cash (8.00% PIK Toggle) |   | 11/30/22 |   | £ | 125,468 |  |   | 146,598 |  |   | 119,426 |  |   | (17) |
| Solarplicity UK Holdings Limited (4)                                  |   | Common Equity/Interest - Ordinary Shares |   | N/A |   | N/A |   | 2,825 Shares |  |   | 3 |  |   | 4,952 |  |   | (2)(13)(17) |
|                                                                  |   | Unsecured Debt |   | 8.00% Cash (8.00% PIK Toggle) |   | 02/24/22 |   | £ | 2,000 |  |   | 2,499 |  |   | 2,501 |  |   | (17) |
|                                                                  |   |   |   |   |   |   |   |   |   | 151,572 |  |   | 126,879 |  |   |   |
| Sungevity Inc.                                                        |   | Preferred Equity - Series D Preferred Stock |   | N/A |   | N/A |   | 114,678,899 Shares |  |   | 4,409 |  |   | $ | — |  |   | (13) |
| Westinghouse Electric Co LLC                                          |   | First Lien Secured Debt |   | 7.25% (1M L+625, 1.00% Floor) |   | 03/31/18 |   | $ | 17,500 |  |   | 17,064 |  |   | 17,064 |  |   | (9)(16) |
|                                                                  |   | First Lien Secured Debt |   | 0.50% Unfunded |   | 03/31/18 |   | 22,500 |  |   | — |  |   | — |  |   | (9)(21) |
|                                                                  |   |   |   |   |   |   |   |   |   | 17,064 |  |   | 17,064 |  |   |   |
| Total Energy – Electricity                                      |   |   | $ | 198,916 |  |   | $ | 178,968 |  |   |   |
| Energy – Oil & Gas                                          |   |   |   |   |   |   |   |   |   |   |
| Glacier Oil & Gas Corp. (f/k/a Miller Energy Resources, Inc.) (5) |   | Common Equity/Interest - Common Stock |   | N/A |   | N/A |   | 5,000,000 Shares |  |   | $ | 30,078 |  |   | $ | 18,862 |  |   | (13) |
|                                                                  |   | First Lien Secured Debt |   | 8.00% Cash (10.00% PIK Toggle) |   | 03/29/19 |   | $ | 10,000 |  |   | 10,000 |  |   | 10,000 |  |   | (16)(23) |
|                                                                  |   | Second Lien Secured Debt |   | 10.00% PIK Toggle (8.00% Cash) |   | 03/29/21 |   | 27,617 |  |   | 27,617 |  |   | 27,617 |  |   | (16) |
|                                                                  |   |   |   |   |   |   |   |   |   | 67,695 |  |   | 56,479 |  |   |   |
| Pelican Energy, LLC (4)                                               |   | Common Equity/Interest - Membership Interests |   | N/A |   | N/A |   | 1,228 Shares |  |   | 1,099 |  |   | — |  |   | (13)(17) |
|                                                                  |   | First Lien Secured Debt |   | 10.00% PIK Toggle (10.00% Cash) |   | 12/31/18 |   | 31,141 |  |   | 26,665 |  |   | 15,417 |  |   | (14)(17) |
|                                                                  |   |   |   |   |   |   |   |   |   | 27,764 |  |   | 15,417 |  |   |   |
| SHD Oil & Gas, LLC (5)                                            |   | Common Equity/Interest - Series A Units |   | N/A |   | N/A |   | 7,600,000 Shares |  |   | 1,412 |  |   | — |  |   | (13) |
|                                                                  |   | First Lien Secured Debt - Tranche A Note |   | 14.00% (8.00% Cash plus 6.00% PIK) |   | 12/31/19 |   | 40,891 |  |   | 40,891 |  |   | 40,891 |  |   | (16) |
|                                                                  |   | First Lien Secured Debt - Tranche B Note |   | 14.00% PIK |   | 12/31/19 |   | 63,697 |  |   | 44,380 |  |   | 32,793 |  |   | (14)(16) |
|                                                                  |   | First Lien Secured Debt - Tranche C Note |   | 12.00% |   | 12/31/19 |   | 6,750 |  |   | 6,750 |  |   | 6,750 |  |   | (16)(23) |
|                                                                  |   | First Lien Secured Debt - Unfunded Tranche C Note |   | 0.00% Unfunded |   | 12/31/19 |   | 11,250 |  |   | — |  |   | — |  |   | (16)(21)(23) |
|                                                                  |   |   |   |   |   |   |   |   |   | 93,433 |  |   | 80,434 |  |   |   |

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|                                    |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry / Company                 |   | Investment Type |   | Interest Rate (20) |   | MaturityDate |   |  Par / Shares (12) |   |  Cost (28) |   |  FairValue     (1) (29) |   |   |
| Venoco, Inc. (4)                   |   | Common Equity/Interest - LLC Units |   | N/A |   | N/A |   | 192,177 Shares |  |   | 40,517 |  |   | — |  |   | (13) |
|                               |   | Unsecured Debt |   | 10.00% PIK |   | 07/25/17 |   | 338 |  |   | 337 |  |   | — |  |   |   |
|                               |   | Warrants - Series A Warrants |   | N/A |   | N/A |   | 23,125 Warrants |  |   | 48,170 |  |   | — |  |   | (13) |
|                               |   |   |   |   |   |   |   |   |   | 89,024 |  |   | — |  |   |   |
| Total Energy – Oil & Gas |   |   | $ | 277,916 |  |   | $ | 152,330 |  |   |   |
| Environmental Industries           |   |   |   |   |   |   |   |   |   |   |   |   |
| LVI Group Investments, LLC (3)(4)  |   | Common Equity/Interest - Common Units |   | N/A |   | N/A |   | 212,460 Shares |  |   | $ | 17,505 |  |   | $ | — |  |   | (13) |
| Total  Environmental Industries    |   |   | $ | 17,505 |  |   | $ | — |  |   |   |
| Food & Grocery                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Grocery Outlet, Inc.               |   | Second Lien Secured Debt |   | 9.40% (3M L+825, 1.00% Floor) |   | 10/21/22 |   | $ | 25,000 |  |   | $ | 24,713 |  |   | $ | 25,094 |  |   | (10) |
| Total  Food & Grocery          |   |   | $ | 24,713 |  |   | $ | 25,094 |  |   |   |
| Healthcare & Pharmaceuticals   |   |   |   |   |   |   |   |   |   |   |
| Aptevo Therapeutics Inc.           |   | First Lien Secured Debt |   | 8.38% (1M L+760) |   | 02/01/21 |   | $ | 8,571 |  |   | $ | 8,605 |  |   | $ | 8,419 |  |   | (9)(16)(23) |
|                               |   | First Lien Secured Debt - Unfunded Delayed Draw |   | 0.00% Unfunded |   | 02/01/21 |   | 6,429 |  |   | (27 | ) |   | 114 |  |   | (9)(16)(21)(23) |
|                               |   |   |   |   |   |   |   |   |   | 8,578 |  |   | 8,533 |  |   |   |
| BioClinica Holding I, LP           |   | Second Lien Secured Debt |   | 9.25% (1M L+825, 1.00% Floor) |   | 10/21/24 |   | 24,612 |  |   | 24,144 |  |   | 24,474 |  |   | (10) |
| Clothesline Holdings, Inc.         |   | Common Equity/Interest - Common Stock |   | N/A |   | N/A |   | 6,000  Shares |  |   | 6,000 |  |   | — |  |   | (13) |
| Elements Behavioral Health, Inc.   |   | Second Lien Secured Debt |   | 13.04% (3M L+1200 PIK, 1.00% Floor) |   | 02/11/20 |   | 11,192 |  |   | 11,141 |  |   | 9,289 |  |   |   |
| Endologix, Inc.                    |   | First Lien Secured Debt - Unfunded Revolver |   | N/A |   | 07/29/20 |   | 5,000 |  |   | (21 | ) |   | (25 | ) |   | (8)(9)(17)(21)(23) |
| Invuity, Inc.                      |   | First Lien Secured Debt |   | 8.00% (1M L+650, 1.50% Floor) |   | 03/01/22 |   | 6,667 |  |   | 6,558 |  |   | 6,539 |  |   | (9)(16) |
|                               |   | First Lien Secured Debt - Unfunded Delayed Draw |   | 0.00% Unfunded |   | 03/01/22 |   | 3,333 |  |   | (16 | ) |   | (64 | ) |   | (8)(9)(16)(21)(23) |
|                               |   | First Lien Secured Debt - Unfunded Revolver |   | 0.50% Unfunded |   | 03/01/22 |   | 2,000 |  |   | (9 | ) |   | (10 | ) |   | (8)(9)(16)(21)(23) |
|                               |   | Warrants - Warrants |   | N/A |   | N/A |   | 16,873 Warrants |  |   | 80 |  |   | 94 |  |   | (9) |
|                               |   |   |   |   |   |   |   |   |   | 6,613 |  |   | 6,559 |  |   |   |
| Lanai Holdings III, Inc.           |   | Second Lien Secured Debt |   | 9.50% (1M L+850, 1.00% Floor) |   | 08/28/23 |   | 17,391 |  |   | 16,907 |  |   | 17,217 |  |   | (10) |
| Novadaq Technologies Inc.          |   | First Lien Secured Debt |   | 7.98% (1M L+720, 0.50% Floor) |   | 01/01/22 |   | 3,333 |  |   | 3,324 |  |   | 3,325 |  |   | (9)(16)(17)(23) |
|                               |   | First Lien Secured Debt - Unfunded Delayed Draw |   | 0.00% Unfunded |   | 01/01/22 |   | 6,666 |  |   | (32 | ) |   | (18 | ) |   | (8)(9)(16)(17)(21)(23) |
|                               |   | First Lien Secured Debt - Unfunded Revolver |   | 0.50% Unfunded |   | 01/01/22 |   | 3,000 |  |   | (14 | ) |   | (14 | ) |   | (8)(9)(16)(17)(21)(23) |
|                               |   |   |   |   |   |   |   |   |   | 3,278 |  |   | 3,293 |  |   |   |
| Oxford Immunotec, Inc.             |   | First Lien Secured Debt |   | 8.38% (1M L+760) |   | 10/01/21 |   | 9,750 |  |   | 9,752 |  |   | 9,756 |  |   | (9)(16)(17) |
|                               |   | First Lien Secured Debt - Unfunded Revolver |   | 0.50% Unfunded |   | 10/01/21 |   | 1,000 |  |   | (5 | ) |   | (5 | ) |   | (8)(9)(16)(17)(21)(23) |
|                               |   |   |   |   |   |   |   |   |   | 9,747 |  |   | 9,751 |  |   |   |
| PetVet Care Centers, LLC           |   | Second Lien Secured Debt |   | 9.65% (3M L+850, 1.00% Floor) |   | 06/17/21 |   | 13,500 |  |   | 13,120 |  |   | 13,298 |  |   |   |
| Wright Medical Group, Inc.         |   | First Lien Secured Debt - Revolver |   | 5.03% (1M L+425, 0.75% Floor) |   | 12/23/21 |   | 10,000 |  |   | 10,000 |  |   | 9,900 |  |   | (9)(16)(17)(23) |
|                               |   | First Lien Secured Debt - Unfunded Revolver |   | 0.50% Unfunded |   | 12/23/21 |   | 40,000 |  |   | (302 | ) |   | (400 | ) |   | (8)(9)(16)(17)(21)(23) |

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|                                                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry / Company                                     |   | Investment Type |   | Interest Rate (20) |   | MaturityDate |   |  Par / Shares (12) |   |  Cost (28) |   |  FairValue     (1) (29) |   |   |
|                                                   |   |   |   |   |   |   |   |   |   | 9,698 |  |   | 9,500 |  |   |   |
| Total Healthcare & Pharmaceuticals                 |   |   | $ | 109,205 |  |   | $ | 101,889 |  |   |   |
| High Tech Industries                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| ChyronHego Corporation                                 |   | First Lien Secured Debt |   | 7.43% (1M L+643, 1.00% Floor) |   | 03/09/20 |   | $ | 36,208 |  |   | $ | 35,697 |  |   | $ | 35,484 |  |   | (18) |
| ECN Holding Company (Emergency Communications Network) |   | First Lien Secured Debt |   | 9.50% (2M L+850, 1.00% Floor) |   | 06/12/21 |   | 22,190 |  |   | 21,944 |  |   | 22,040 |  |   | (16)(18) |
| LabVantage Solutions                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| LabVantage Solutions Inc.                              |   | First Lien Secured Debt |   | 9.00% (3M L+800, 1.00% Floor) |   | 12/29/20 |   | 14,438 |  |   | 14,085 |  |   | 14,293 |  |   |   |
| LabVantage Solutions Limited                           |   | First Lien Secured Debt |   | 9.00% (3M E+800, 1.00% Floor) |   | 12/29/20 |   | € | 13,226 |  |   | 13,852 |  |   | 14,004 |  |   | (16)(17) |
|                                                   |   | First Lien Secured Debt - Unfunded Revolver |   | 0.50% Unfunded |   | 12/29/20 |   | € | 3,435 |  |   | (90 | ) |   | (37 | ) |   | (8)(16)(17)(21)(23) |
|                                                   |   |   |   |   |   |   |   |   |   | 27,847 |  |   | 28,260 |  |   |   |
| MSC Software Corp.                                     |   | Second Lien Secured Debt |   | 8.50% (1M L+750, 1.00% Floor) |   | 05/31/21 |   | 13,448 |  |   | 13,359 |  |   | 13,464 |  |   | (17) |
| Nextech Systems, LLC                                   |   | First Lien Secured Debt |   | 8.40% (3M L+725, 1.00% Floor) |   | 06/22/21 |   | 21,716 |  |   | 21,256 |  |   | 21,282 |  |   | (18) |
| Saba Software, Inc.                                    |   | First Lien Secured Debt |   | 9.00% (1M L+800, 1.00% Floor) |   | 03/30/21 |   | 9,825 |  |   | 9,825 |  |   | 9,825 |  |   | (18) |
| Telestream Holdings Corporation                        |   | First Lien Secured Debt |   | 7.61% (3M L +645, 1.00% Floor) |   | 01/15/20 |   | 37,119 |  |   | 36,745 |  |   | 36,376 |  |   | (18) |
| Tibco Software Inc.                                    |   | First Lien Secured Debt - Unfunded Revolver |   | 0.50% Unfunded |   | 12/05/19 |   | 6,000 |  |   | (32 | ) |   | (839 | ) |   | (8)(21)(23) |
| Total High Tech Industries                             |   |   | $ | 166,641 |  |   | $ | 165,892 |  |   |   |
| Hotel, Gaming, Leisure, Restaurants                    |   |   |   |   |   |   |   |   |   |   |
| GFRC Holdings LLC                                      |   | Common Equity/Interest - Membership Interests |   | N/A |   | N/A |   | 2,500,000 Shares |  |   | $ | — |  |   | $ | — |  |   | (13) |
|                                                   |   | First Lien Secured Debt |   | 10.50% (1M L+900 Cash (L+900 PIK Toggle), 1.50% Floor) |   | 02/01/22 |   | $ | 2,500 |  |   | 2,500 |  |   | 2,375 |  |   |   |
|                                                   |   |   |   |   |   |   |   |   |   | 2,500 |  |   | 2,375 |  |   |   |
| SMG                                                    |   | Second Lien Secured Debt |   | 9.40% (3M L+825, 1.00% Floor) |   | 02/27/21 |   | 19,649 |  |   | 19,649 |  |   | 19,625 |  |   |   |
| Total Hotel, Gaming, Leisure, Restaurants              |   |   | $ | 22,149 |  |   | $ | 22,000 |  |   |   |
| Insurance                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Alliant Holdings Intermediate, LLC                     |   | First Lien Secured Debt - Letter of Credit |   | 3.375% |   | 04/24/17 |   | $ | 37 |  |   | $ | — |  |   | $ | (2 | ) |   | (8)(16)(23) |
|                                                   |   | First Lien Secured Debt - Letter of Credit |   | 3.375% |   | 05/04/17 |   | 8 |  |   | — |  |   | — |  |   | (8)(16)(23) |
|                                                   |   | First Lien Secured Debt - Letter of Credit |   | 3.375% |   | 06/30/17 |   | 17 |  |   | — |  |   | (1 | ) |   | (8)(16)(23) |
|                                                   |   | First Lien Secured Debt - Letter of Credit |   | 3.375% |   | 07/29/17 |   | 80 |  |   | — |  |   | (4 | ) |   | (8)(16)(23) |
|                                                   |   | First Lien Secured Debt - Letter of Credit |   | 3.375% |   | 10/03/17 |   | 8 |  |   | — |  |   | — |  |   | (8)(16)(23) |
|                                                   |   | First Lien Secured Debt - Letter of Credit |   | 3.375% |   | 11/30/17 |   | 38 |  |   | — |  |   | (2 | ) |   | (8)(16)(23) |
|                                                   |   | First Lien Secured Debt - Unfunded Revolver |   | 0.50% Unfunded |   | 08/14/20 |   | 14,812 |  |   | (1,152 | ) |   | (697 | ) |   | (8)(16)(21)(23) |
|                                                   |   |   |   |   |   |   |   |   |   | (1,152 | ) |   | (706 | ) |   |   |
| Confie Seguros Holding II Co.                          |   | Second Lien Secured Debt |   | 10.25% (1M L+900, 1.25% Floor) |   | 05/08/19 |   | 22,344 |  |   | 22,276 |  |   | 22,260 |  |   | (10) |
| Asurion Corporation                                    |   | Second Lien Secured Debt |   | 8.50% (1M L+750, 1.00% Floor) |   | 03/03/21 |   | 39,590 |  |   | 39,404 |  |   | 40,167 |  |   | (10) |
| Total Insurance                                        |   |   | $ | 60,528 |  |   | $ | 61,721 |  |   |   |
| Manufacturing, Capital Equipment                       |   |   |   |   |   |   |   |   |   |   |
| MedPlast Holdings Inc.                                 |   | Second Lien Secured Debt |   | 9.78% (3M L+875, 1.00% Floor) |   | 06/06/23 |   | $ | 8,000 |  |   | $ | 7,800 |  |   | $ | 7,800 |  |   |   |

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|                                                  |
|--------------------------------------------------|
|                                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry / Company                               |   | Investment Type |   | Interest Rate (20) |   | MaturityDate |   |  Par / Shares (12) |   |  Cost (28) |   |  FairValue     (1) (29) |   |   |
| MW Industries, Inc.                              |   | Second Lien Secured Debt |   | 10.40% (3M L+925, 1.00% Floor) |   | 12/28/20 |   | 20,000 |  |   | 19,569 |  |   | 20,100 |  |   | (10) |
| Power Products, LLC                              |   | Second Lien Secured Debt |   | 10.34% (3M L+900, 1.00% Floor) |   | 12/20/23 |   | 37,500 |  |   | 36,239 |  |   | 36,847 |  |   | (9) |
| Total  Manufacturing, Capital Equipment          |   |   | $ | 63,608 |  |   | $ | 64,747 |  |   |   |
| Media – Diversified & Production       |   |   |   |   |   |   |   |   |   |   |
| SESAC Holdco II LLC                              |   | First Lien Secured Debt - Unfunded Revolver |   | 0.50% Unfunded |   | 02/23/22 |   | $ | 587 |  |   | $ | (52 | ) |   | $ | (44 | ) |   | (8)(16)(21)(23) |
|                                             |   | Second Lien Secured Debt |   | 8.25% (3M L+725, 1.00% Floor) |   | 02/24/25 |   | 3,241 |  |   | 3,209 |  |   | 3,254 |  |   | (10)(16) |
| Total Media – Diversified & Production |   |   | $ | 3,157 |  |   | $ | 3,210 |  |   |   |
| Metals & Mining                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Magnetation, LLC                                 |   | First Lien Secured Debt |   | 9.15% (3M L+800 Cash (PIK Toggle)) |   | 12/31/19 |   | $ | 2,081 |  |   | $ | 2,050 |  |   | $ | 705 |  |   | (14)(16) |
|                                             |   | First Lien Secured Debt |   | 12.00% PIK |   | 12/31/19 |   | 12,527 |  |   | 10,378 |  |   | — |  |   | (14)(16) |
| Total Metals & Mining                        |   |   | $ | 12,428 |  |   | $ | 705 |  |   |   |
| Telecommunications                               |   |   |   |   |   |   |
| UniTek Global Services Inc.                      |   | First Lien Secured Debt |   | 11.50% (P+750) |   | 01/13/19 |   | $ | 10,000 |  |   | $ | 10,000 |  |   | $ | 10,000 |  |   | (16) |
|                                             |   | First Lien Secured Debt |   | 9.65% (3M L+750 Cash plus 1.00% PIK, 1.00% Floor) |   | 01/13/19 |   | 32,367 |  |   | 32,366 |  |   | 33,013 |  |   | (16) |
|                                             |   | First Lien Secured Debt |   | 9.65% (3M L+750 Cash plus 1.00% PIK, 1.00% Floor) |   | 01/13/19 |   | 1,709 |  |   | 1,709 |  |   | 1,709 |  |   | (16) |
|                                             |   | First Lien Secured Debt - Letter of Credit |   | 7.50% |   | 01/13/19 |   | 7,762 |  |   | — |  |   | — |  |   | (16)(23) |
|                                             |   | First Lien Secured Debt - Unfunded Revolver |   | 0.50% Unfunded |   | 01/13/19 |   | 5,000 |  |   | — |  |   | — |  |   | (16)(21)(23) |
|                                             |   | Unsecured Debt |   | 15.00% PIK |   | 07/13/19 |   | 8,547 |  |   | 8,547 |  |   | 8,717 |  |   | (16) |
|                                             |   |   |   |   |   |   |   |   |   | 52,622 |  |   | 53,439 |  |   |   |
| Wave Holdco Merger Sub, Inc.                     |   | Second Lien Secured Debt |   | 10.25% (1M L+925, 1.00% Floor) |   | 05/27/23 |   | 10,000 |  |   | 9,768 |  |   | 9,874 |  |   |   |
| Total Telecommunication                          |   |   | $ | 62,390 |  |   | $ | 63,313 |  |   |   |
| Transportation – Cargo, Distribution       |   |   |   |   |   |   |   |   |   |   |
| American Tire                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Accelerate Parent Corp.                          |   | Common Equity/Interest - Common Stock |   | N/A |   | N/A |   | 1,664,046 Shares |  |   | $ | 1,714 |  |   | $ | 1,730 |  |   | (13) |
| American Tire Distributors, Inc.                 |   | Unsecured Debt |   | 10.25% |   | 03/01/22 |   | $ | 14,741 |  |   | 14,808 |  |   | 15,119 |  |   | (10)(11) |
|                                             |   |   |   |   |   |   |   |   |   | 16,522 |  |   | 16,849 |  |   |   |
| Dynamic Product Tankers, LLC (5)                 |   | Common Equity/Interest - Class A Units |   | N/A |   | N/A |   | — |  |   | 48,106 |  |   | 42,644 |  |   | (17)(24) |
|                                             |   | First Lien Secured Debt - Letter of Credit |   | 2.25% |   | 09/20/17 |   | 2,250 |  |   | — |  |   | — |  |   | (17)(23) |
|                                             |   |   |   |   |   |   |   |   |   | 48,106 |  |   | 42,644 |  |   |   |
| MSEA Tankers LLC (5)                             |   | Common Equity/Interest - Class A Units |   | N/A |   | N/A |   | N/A |  |   | 74,450 |  |   | 72,797 |  |   | (17)(25) |
| TMK Hawk Parent, Corp.                           |   | Second Lien Secured Debt |   | 8.50% (1M L+750, 1.00% Floor) |   | 10/01/22 |   | 34,000 |  |   | 33,745 |  |   | 33,830 |  |   |   |
| Total Transportation – Cargo, Distribution |   |   | $ | 172,823 |  |   | $ | 166,120 |  |   |   |
| Utilities – Electric                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Asset Repackaging Trust Six B.V.                 |   | Structured Products and Other |   | 13.11% |   | 05/18/27 |   | $ | 58,411 |  |   | $ | 25,637 |  |   | $ | 29,615 |  |   | (11)(17)(19) |
| Total Utilities – Electric                 |   |   | $ | 25,637 |  |   | $ | 29,615 |  |   |   |
| Total Investments before Cash Equivalents        |   |   |   | $ | 2,605,423 |  |   | $ | 2,316,708 |  |   | (10) |
| J.P. Morgan U.S. Government Money Market Fund    |   | N/A |   | N/A |   | N/A |   | $ | 9,783 |  |   | $ | 9,783 |  |   | $ | 9,783 |  |   | (27) |
| Total Investments after Cash Equivalents         |   |   |   | $ | 2,615,206 |  |   | $ | 2,326,491 |  |   | (6)(7) |

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|     |                                                                                                                     |
|-----|---------------------------------------------------------------------------------------------------------------------|
| (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) | Other than the investments noted by this footnote, the fair value of the Company’s investments is determined using unobservable inputs that are significant to the overall fair value measurement. See Note 2 within the notes to the Financial Statements for more information regarding ASC 820, Fair Value Measurements (“ASC 820”). |

|      |                                                                                                                                                                                                                            |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (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) | Par amount is 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. |

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|      |                                                                                                                                                                 |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (28) | The following shows the composition of the Company’s portfolio at cost by control designation, investment type and by industry as of March 31, 2017: |

|                                                                |
|----------------------------------------------------------------|
|                                                                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry                                                       | First Lien - Secured Debt | Second Lien - Secured Debt | Unsecured Debt | Structured Products and Other | Preferred Equity | Common Equity/Interests | Warrants | Total |
| Non-Controlled / Non-Affiliated Investments                    |   |   |   |   |   |   |
| Advertising, Printing & Publishing                         | $ | 15,773 |  | $ | 9,951 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 25,724 |  |
| Aerospace & Defense                                        | — |  | 21,297 |  | — |  | — |  | — |  | — |  | — |  | 21,297 |  |
| Automotive                                                     | — |  | 29,425 |  | — |  | — |  | — |  | — |  | — |  | 29,425 |  |
| Broadcasting & Subscription                                | — |  | 2,219 |  | — |  | — |  | — |  | — |  | — |  | 2,219 |  |
| Business Services                                              | 136,726 |  | 244,405 |  | 135,000 |  | — |  | — |  | 4,500 |  | — |  | 520,631 |  |
| Chemicals, Plastics & Rubber                               | 58,689 |  | 15,102 |  | — |  | — |  | — |  | — |  | — |  | 73,791 |  |
| Consumer Goods – Durable                                 | — |  | 17,319 |  | 35 |  | — |  | — |  | — |  | — |  | 17,354 |  |
| Containers, Packaging & Glass                              | 488 |  | 16,213 |  | — |  | — |  | — |  | — |  | — |  | 16,701 |  |
| Diversified Investment Vehicles, Banking, Finance, Real Estate | — |  | 7,906 |  | — |  | 100,910 |  | — |  | — |  | — |  | 108,816 |  |
| Education                                                      | — |  | — |  | — |  | — |  | 71,050 |  | 175 |  | 1,601 |  | 72,826 |  |
| Energy – Electricity                                     | 17,064 |  | — |  | — |  | — |  | 4,409 |  | — |  | — |  | 21,473 |  |
| Food & Grocery                                             | — |  | 24,713 |  | — |  | — |  | — |  | — |  | — |  | 24,713 |  |
| Healthcare & Pharmaceuticals                               | 37,811 |  | 65,312 |  | — |  | — |  | — |  | 6,002 |  | 80 |  | 109,205 |  |
| High Tech Industries                                           | 153,282 |  | 13,359 |  | — |  | — |  | — |  | — |  | — |  | 166,641 |  |
| Hotel, Gaming, Leisure, Restaurants                            | 2,500 |  | 19,649 |  | — |  | — |  | — |  | — |  | — |  | 22,149 |  |
| Insurance                                                      | (1,152 | ) | 61,680 |  | — |  | — |  | — |  | — |  | — |  | 60,528 |  |
| Manufacturing, Capital Equipment                               | — |  | 63,608 |  | — |  | — |  | — |  | — |  | — |  | 63,608 |  |
| Media – Diversified & Production                     | (52 | ) | 3,209 |  | — |  | — |  | — |  | — |  | — |  | 3,157 |  |
| Metals & Mining                                            | 12,428 |  | — |  | — |  | — |  | — |  | — |  | — |  | 12,428 |  |
| Telecommunications                                             | 44,076 |  | 9,768 |  | 8,546 |  | — |  | — |  | — |  | — |  | 62,390 |  |
| Transportation – Cargo, Distribution                     | — |  | 33,746 |  | 14,809 |  | — |  | — |  | 1,712 |  | — |  | 50,267 |  |
| Utilities – Electric                                     | — |  | — |  | — |  | 25,637 |  | — |  | — |  | — |  | 25,637 |  |
| Total Non-Controlled / Non-Affiliated Investments              | $ | 477,633 |  | $ | 658,881 |  | $ | 158,390 |  | $ | 126,547 |  | $ | 75,459 |  | $ | 12,389 |  | $ | 1,681 |  | $ | 1,510,980 |  |
| Non-Controlled / Affiliated Investments                        |   |   |   |   |   |   |
| Diversified Investment Vehicles, Banking, Finance, Real Estate | $ | — |  | $ | — |  | $ | — |  | $ | 36,695 |  | $ | — |  | $ | 69,040 |  | $ | — |  | $ | 105,735 |  |
| Energy – Electricity                                     | 146,598 |  | — |  | 2,499 |  | — |  | 13,911 |  | 14,435 |  | — |  | 177,443 |  |
| Energy – Oil & Gas                                   | 26,665 |  | — |  | 337 |  | — |  | — |  | 41,616 |  | 48,170 |  | 116,788 |  |
| Environmental Industries                                       | — |  | — |  | — |  | — |  | — |  | 17,505 |  | — |  | 17,505 |  |
| Total Non-Controlled / Affiliated Investments                  | $ | 173,263 |  | $ | — |  | $ | 2,836 |  | $ | 36,695 |  | $ | 13,911 |  | $ | 142,596 |  | $ | 48,170 |  | $ | 417,471 |  |
| Controlled Investments                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Aviation and Consumer Transport                                | 374,084 |  | — |  | — |  | — |  | — |  | 19,204 |  | — |  | 393,288 |  |
| Energy – Oil & Gas                                   | 102,021 |  | 27,617 |  | — |  | — |  | — |  | 31,490 |  | — |  | 161,128 |  |
| Transportation – Cargo, Distribution                     | — |  | — |  | — |  | — |  | — |  | 122,556 |  | — |  | 122,556 |  |
| Total Controlled Investments                                   | $ | 476,105 |  | $ | 27,617 |  | $ | — |  | $ | — |  | $ | — |  | $ | 173,250 |  | $ | — |  | $ | 676,972 |  |
| Total                                                          | $ | 1,127,001 |  | $ | 686,498 |  | $ | 161,226 |  | $ | 163,242 |  | $ | 89,370 |  | $ | 328,235 |  | $ | 49,851 |  | $ | 2,605,423 |  |

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|      |                                                                                                                                                                            |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (29) | The following shows the composition of the Company’s portfolio at fair value by control designation, investment type and by industry as of March 31, 2017: |

|                                                                |
|----------------------------------------------------------------|
|                                                                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry                                                       | First Lien - Secured Debt | Second Lien - Secured Debt | Unsecured Debt | Structured Products and Other | Preferred Equity | Common Equity/Interests | Warrants | Total | % of Net Assets |
| Non-Controlled / Non-Affiliated Investments                    |   |   |   |   |   |   |   |
| Advertising, Printing & Publishing                         | $ | 16,237 |  | $ | 10,023 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 26,260 |  | 1.7 | % |
| Aerospace & Defense                                        | — |  | 22,246 |  | — |  | — |  | — |  | — |  | — |  | 22,246 |  | 1.5 | % |
| Automotive                                                     | — |  | 29,849 |  | — |  | — |  | — |  | — |  | — |  | 29,849 |  | 2.0 | % |
| Broadcasting & Subscription                                | — |  | 1,340 |  | — |  | — |  | — |  | — |  | — |  | 1,340 |  | 0.1 | % |
| Business Services                                              | 128,042 |  | 248,080 |  | 135,000 |  | — |  | — |  | 4,500 |  | — |  | 515,622 |  | 34.7 | % |
| Chemicals, Plastics & Rubber                               | 50,572 |  | 14,970 |  | — |  | — |  | — |  | — |  | — |  | 65,542 |  | 4.4 | % |
| Consumer Goods – Durable                                 | — |  | 17,252 |  | 47 |  | — |  | — |  | 231 |  | — |  | 17,530 |  | 1.2 | % |
| Containers, Packaging & Glass                              | 960 |  | 9,297 |  | — |  | — |  | — |  | — |  | — |  | 10,257 |  | 0.7 | % |
| Diversified Investment Vehicles, Banking, Finance, Real Estate | — |  | 8,000 |  | — |  | 99,834 |  | — |  | — |  | — |  | 107,834 |  | 7.3 | % |
| Energy – Electricity                                     | 17,064 |  | — |  | — |  | — |  | — |  | — |  | — |  | 17,064 |  | 1.2 | % |
| Food & Grocery                                             | — |  | 25,094 |  | — |  | — |  | — |  | — |  | — |  | 25,094 |  | 1.7 | % |
| Healthcare & Pharmaceuticals                               | 37,517 |  | 64,278 |  | — |  | — |  | — |  | — |  | 94 |  | 101,889 |  | 6.9 | % |
| High Tech Industries                                           | 152,427 |  | 13,465 |  | — |  | — |  | — |  | — |  | — |  | 165,892 |  | 11.2 | % |
| Hotel, Gaming, Leisure, Restaurants                            | 2,375 |  | 19,625 |  | — |  | — |  | — |  | — |  | — |  | 22,000 |  | 1.5 | % |
| Insurance                                                      | (706 | ) | 62,427 |  | — |  | — |  | — |  | — |  | — |  | 61,721 |  | 4.2 | % |
| Manufacturing, Capital Equipment                               | — |  | 64,747 |  | — |  | — |  | — |  | — |  | — |  | 64,747 |  | 4.4 | % |
| Media – Diversified & Production                     | (44 | ) | 3,254 |  | — |  | — |  | — |  | — |  | — |  | 3,210 |  | 0.2 | % |
| Metals & Mining                                            | 705 |  | — |  | — |  | — |  | — |  | — |  | — |  | 705 |  | — | % |
| Telecommunications                                             | 44,722 |  | 9,874 |  | 8,717 |  | — |  | — |  | — |  | — |  | 63,313 |  | 4.3 | % |
| Transportation – Cargo, Distribution                     | — |  | 33,830 |  | 15,119 |  | — |  | — |  | 1,730 |  | — |  | 50,679 |  | 3.4 | % |
| Utilities – Electric                                     | — |  | — |  | — |  | 29,615 |  | — |  | — |  | — |  | 29,615 |  | 2.0 | % |
| Total Non-Controlled / Non-Affiliated Investments              | $ | 449,871 |  | $ | 657,651 |  | $ | 158,883 |  | $ | 129,449 |  | $ | — |  | $ | 6,461 |  | $ | 94 |  | $ | 1,402,409 |  | 94.6 | % |
| % of Net Assets                                                | 30.4 | % | 44.4 | % | 10.7 | % | 8.7 | % | — | % | 0.4 | % | — | % | 94.6 | % |   |
| Non-Controlled / Affiliated Investments                        |   |   |   |   |   |   |   |
| Diversified Investment Vehicles, Banking, Finance, Real Estate | $ | — |  | $ | — |  | $ | — |  | $ | 37,444 |  | $ | — |  | $ | 24,285 |  | $ | — |  | $ | 61,729 |  | 4.2 | % |
| Energy – Electricity                                     | 119,426 |  | — |  | 2,501 |  | — |  | 25,637 |  | 14,340 |  | — |  | 161,904 |  | 10.9 | % |
| Energy – Oil & Gas                                   | 15,417 |  | — |  | — |  | — |  | — |  | — |  | — |  | 15,417 |  | 1.0 | % |
| Total Non-Controlled / Affiliated Investments                  | $ | 134,843 |  | $ | — |  | $ | 2,501 |  | $ | 37,444 |  | $ | 25,637 |  | $ | 38,625 |  | $ | — |  | $ | 239,050 |  | 16.1 | % |
| % of Net Assets                                                | 9.1 | % | — | % | 0.2 | % | 2.5 | % | 1.7 | % | 2.6 | % | — | % | 16.1 | % |   |
| Controlled Investments                                         |   |   |   |   |   |   |   |
| Aviation and Consumer Transport                                | $ | 374,084 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 48,811 |  | $ | — |  | $ | 422,895 |  | 28.6 | % |
| Energy – Oil & Gas                                   | 90,434 |  | 27,617 |  | — |  | — |  | — |  | 18,862 |  | — |  | 136,913 |  | 9.2 | % |
| Transportation – Cargo, Distribution                     | — |  | — |  | — |  | — |  | — |  | 115,441 |  | — |  | 115,441 |  | 7.8 | % |
| Total Controlled Investments                                   | $ | 464,518 |  | $ | 27,617 |  | $ | — |  | $ | — |  | $ | — |  | $ | 183,114 |  | $ | — |  | $ | 675,249 |  | 45.6 | % |
| % of Net Assets                                                | 31.3 | % | 1.9 | % | — | % | — | % | — | % | 12.4 | % | — | % | 45.6 | % |   |
| Total                                                          | $ | 1,049,232 |  | $ | 685,268 |  | $ | 161,384 |  | $ | 166,893 |  | $ | 25,637 |  | $ | 228,200 |  | $ | 94 |  | $ | 2,316,708 |  | 156.3 | % |
| % of Net Assets                                                | 70.8 | % | 46.3 | % | 10.9 | % | 11.2 | % | 1.7 | % | 15.4 | % | — | % | 156.3 | % |   |

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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 December 31, |   | Nine Months Ended December 31, |
|                                                 | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Earnings Per Share                                   |   |   |   |   |   |   |   |
| Net increase in net assets resulting from operations | $ | 5,833 |  |   | $ | 11,290 |  |   | $ | 66,402 |  |   | $ | 10,318 |  |
| Weighted average shares outstanding                  | 218,550,180 |  |   | 220,168,710 |  |   | 219,253,280 |  |   | 223,305,392 |  |
| Earnings per share                                   | $ | 0.03 |  |   | $ | 0.05 |  |   | $ | 0.30 |  |   | $ | 0.05 |  |

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|                                                                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                           |   |   |   |   | Fair Value Hierarchy |
|                                                                | Cost |  | Fair Value |   | Level 1 |   | Level 2 |   | Level 3 |
| First Lien Secured Debt                                        | $ | 1,212,189 |  |   | $ | 1,169,317 |  |   | $ | — |  |   | $ | — |  |   | $ | 1,169,317 |  |
| Second Lien Secured Debt                                       | 758,384 |  |   | 743,299 |  |   | — |  |   | 271,620 |  |   | 471,679 |  |
| Unsecured Debt                                                 | 106,851 |  |   | 107,677 |  |   | — |  |   | 15,229 |  |   | 92,448 |  |
| Structured Products and Other                                  | 95,830 |  |   | 97,884 |  |   | — |  |   | — |  |   | 97,884 |  |
| Preferred Equity                                               | 13,911 |  |   | 25,690 |  |   | — |  |   | — |  |   | 25,690 |  |
| Common Equity/Interests                                        | 215,115 |  |   | 208,566 |  |   | — |  |   | 470 |  |   | 208,096 |  |
| Warrants                                                       | 180 |  |   | 129 |  |   | — |  |   | — |  |   | 129 |  |
| Total Investments before Option Contracts and Cash Equivalents | $ | 2,402,460 |  |   | $ | 2,352,562 |  |   | $ | — |  |   | $ | 287,319 |  |   | $ | 2,065,243 |  |
| Purchased Put Options                                          | $ | 7,151 |  |   | $ | 2,043 |  |   | $ | 2,043 |  |   | $ | — |  |   | $ | — |  |
| Written Call Options                                           | (7,125 | ) |   | (15,990 | ) |   | (15,990 | ) |   | — |  |   | — |  |
| Total Option Contracts                                         | $ | 26 |  |   | $ | (13,947 | ) |   | $ | (13,947 | ) |   | $ | — |  |   | $ | — |  |
| Money Market Fund                                              | $ | 12,222 |  |   | $ | 12,222 |  |   | $ | 12,222 |  |   | $ | — |  |   | $ | — |  |
| Total Cash Equivalents                                         | $ | 12,222 |  |   | $ | 12,222 |  |   | $ | 12,222 |  |   | $ | — |  |   | $ | — |  |
| Total Investments after Option Contracts and Cash Equivalents  | $ | 2,414,708 |  |   | $ | 2,350,837 |  |   | $ | (1,725 | ) |   | $ | 287,319 |  |   | $ | 2,065,243 |  |

|                                           |
|-------------------------------------------|
|                                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                      |   |   |   |   | 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 before Cash Equivalents | $ | 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 after 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 September 30, 2017                                                          | $ | 1,128,390 |  | $ | 571,481 |  | $ | 92,071 |  | $ | 124,268 |  | $ | 25,779 |  | $ | 209,721 |  | $ | 105 |  | $ | 2,151,815 |  |
| Net realized gains (losses)                                                                       | (127 | ) | — |  | — |  | 1,716 |  | — |  | 3,815 |  | — |  | 5,404 |  |
| Net change in unrealized gains (losses)                                                           | (4,228 | ) | (9,332 | ) | 29 |  | (909 | ) | (89 | ) | 1,040 |  | (76 | ) | (13,565 | ) |
| Net amortization on investments                                                                   | 996 |  | 495 |  | — |  | 101 |  | — |  | — |  | — |  | 1,592 |  |
| Purchases, including capitalized PIK (3)                                                          | 108,659 |  | 45,479 |  | 348 |  | — |  | — |  | 804 |  | 100 |  | 155,390 |  |
| Sales (3)                                                                                         | (64,373 | ) | (82,735 | ) | — |  | (27,292 | ) | — |  | (6,814 | ) | — |  | (181,214 | ) |
| Transfers out of Level 3 (1)                                                                      | — |  | (53,709 | ) | — |  | — |  | — |  | (470 | ) | — |  | (54,179 | ) |
| Transfers into Level 3 (1)                                                                        | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  |
| Fair value as of December 31, 2017                                                           | $ | 1,169,317 |  | $ | 471,679 |  | $ | 92,448 |  | $ | 97,884 |  | $ | 25,690 |  | $ | 208,096 |  | $ | 129 |  | $ | 2,065,243 |  |
|                                                                                              |   |   |   |   |   |   |   |   |
| Net change in unrealized gains (losses) on Level 3 investments still held as of December 31, 2017 | $ | (3,474 | ) | $ | (8,319 | ) | $ | 29 |  | $ | (1,403 | ) | $ | (90 | ) | $ | 1,653 |  | $ | (76 | ) | $ | (11,680 | ) |

|                                                                                                   |
|---------------------------------------------------------------------------------------------------|
|                                                                                                   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                              | 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)                                                                       | (13,526 | ) | 48 |  | (338 | ) | 1,716 |  | (98,133 | ) | (78,019 | ) | (49,771 | ) | (238,023 | ) |
| Net change in unrealized gains (losses)                                                           | 34,897 |  | (12,707 | ) | 562 |  | (1,596 | ) | 98,186 |  | 70,812 |  | 49,706 |  | 239,860 |  |
| Net amortization on investments                                                                   | 2,751 |  | 1,591 |  | — |  | 290 |  | — |  | 35 |  | — |  | 4,667 |  |
| Purchases, including capitalized PIK (3)                                                          | 459,132 |  | 225,996 |  | 1,006 |  | — |  | — |  | 30,187 |  | 100 |  | 716,421 |  |
| Sales (3)                                                                                         | (363,169 | ) | (169,243 | ) | (55,000 | ) | (69,419 | ) | — |  | (42,649 | ) | — |  | (699,480 | ) |
| Transfers out of Level 3 (1)                                                                      | — |  | (34,123 | ) | — |  | — |  | — |  | (470 | ) | — |  | (34,593 | ) |
| Transfers into Level 3 (1)                                                                        | — |  | 13,345 |  | — |  | — |  | — |  | — |  | — |  | 13,345 |  |
| Fair value as of December 31, 2017                                                           | $ | 1,169,317 |  | $ | 471,679 |  | $ | 92,448 |  | $ | 97,884 |  | $ | 25,690 |  | $ | 208,096 |  | $ | 129 |  | $ | 2,065,243 |  |
|                                                                                              |   |   |   |   |   |   |   |   |
| Net change in unrealized gains (losses) on Level 3 investments still held as of December 31, 2017 | $ | 5,694 |  | $ | (10,888 | ) | $ | 225 |  | $ | (1,537 | ) | $ | 53 |  | $ | (12,965 | ) | $ | (64 | ) | $ | (19,482 | ) |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (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 $(2,525). |

|     |                                                            |
|-----|------------------------------------------------------------|
| (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 September 30, 2016                                                          | $ | 1,053,764 |  | $ | 338,740 |  | $ | 216,222 |  | $ | 296,566 |  | $ | 67,602 |  | $ | 316,469 |  | $ | 2,412 |  | $ | 2,291,775 |  |
| Net realized gains (losses)                                                                       | (1,899 | ) | — |  | — |  | 38,811 |  | (246 | ) | 2,414 |  | — |  | 39,080 |  |
| Net change in unrealized gains (losses)                                                           | (10,878 | ) | 10,999 |  | 21,293 |  | (31,925 | ) | (36,380 | ) | (25,885 | ) | (1,184 | ) | (73,960 | ) |
| Net amortization on investments                                                                   | 538 |  | 219 |  | 92 |  | 93 |  | — |  | 41 |  | — |  | 983 |  |
| Purchases, including capitalized PIK (3)                                                          | 118,583 |  | 88,959 |  | 13,011 |  | 16,558 |  | 36,677 |  | 1,530 |  | — |  | 275,318 |  |
| Sales (3)                                                                                         | (107,217 | ) | (18,208 | ) | (20,665 | ) | (112,999 | ) | (36,868 | ) | (3,015 | ) | (852 | ) | (299,824 | ) |
| Transfers out of Level 3 (1)                                                                      | — |  | (10,168 | ) | (48 | ) | — |  | — |  | — |  | — |  | (10,216 | ) |
| Transfers into Level 3 (1)                                                                        | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  |
| Fair value as of December 31, 2016                                                           | $ | 1,052,891 |  | $ | 410,541 |  | $ | 229,905 |  | $ | 207,104 |  | $ | 30,785 |  | $ | 291,554 |  | $ | 376 |  | $ | 2,223,156 |  |
|                                                                                              |   |   |   |   |   |   |   |   |
| Net change in unrealized gains (losses) on Level 3 investments still held as of December 31, 2016 | $ | (19,252 | ) | $ | 2,086 |  | $ | 627 |  | $ | 3,519 |  | $ | 122 |  | $ | (23,179 | ) | $ | (2,036 | ) | $ | (38,113 | ) |

|                                                                                                   |
|---------------------------------------------------------------------------------------------------|
|                                                                                                   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                              | 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)                                                                       | (35,345 | ) | — |  | — |  | 37,288 |  | (247 | ) | 50,382 |  | (2,374 | ) | 49,704 |  |
| Net change in unrealized gains (losses)                                                           | 2,000 |  | 26,255 |  | 16,618 |  | (1,592 | ) | (36,420 | ) | (156,337 | ) | (44,568 | ) | (194,044 | ) |
| Net amortization on investments                                                                   | 1,901 |  | 800 |  | 270 |  | 270 |  | — |  | 98 |  | — |  | 3,339 |  |
| Purchases, including capitalized PIK (3)                                                          | 248,137 |  | 126,661 |  | 13,920 |  | 44,129 |  | 37,081 |  | 113,692 |  | 48,170 |  | 631,790 |  |
| Sales (3)                                                                                         | (252,958 | ) | (234,663 | ) | (28,125 | ) | (192,521 | ) | (38,191 | ) | (73,221 | ) | (852 | ) | (820,531 | ) |
| Transfers out of Level 3 (1)                                                                      | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  |
| Transfers into Level 3 (1)                                                                        | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  |
| Fair value as of December 31, 2016                                                           | $ | 1,052,891 |  | $ | 410,541 |  | $ | 229,905 |  | $ | 207,104 |  | $ | 30,785 |  | $ | 291,554 |  | $ | 376 |  | $ | 2,223,156 |  |
|                                                                                              |   |   |   |   |   |   |   |   |
| Net change in unrealized gains (losses) on Level 3 investments still held as of December 31, 2016 | $ | (42,530 | ) | $ | (30,572 | ) | $ | 603 |  | $ | 12,833 |  | $ | (22,014 | ) | $ | (100,837 | ) | $ | (20,390 | ) | $ | (202,907 | ) |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (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 $(2,466). |

|     |                                                            |
|-----|------------------------------------------------------------|
| (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       | $ | (951 | ) | Broker Quoted | Broker Quote | N/A | N/A | N/A |
|                          | 366,300 |  | Discounted Cash Flow | Discount Rate | 2.3% | 14.4% | 12.0% |
|                          | 51,631 |  | Recent Transaction | Recent Transaction | N/A | N/A | N/A |
|                          | 111,355 |  | Recovery Analysis | Commodity Price | $52.00 | $63.00 | $60.09 |
|                          | 49,036 |  | Recovery Analysis | Recoverable Amount | N/A | N/A | N/A |
|                          |   | Market Comparable Technique | Comparable Multiple | 4.6x | 4.6x | 4.6x |
|                          | 573 |  | Recovery Analysis | Recoverable Amount | N/A | N/A | N/A |
|                          |  | Yield Analysis | Discount Rate | 25.0% | 25.0% | 25.0% |
|                          | 125,714 |  | Transaction Price | Expected Proceeds | N/A | N/A | N/A |
|                          | 465,659 |  | Yield Analysis | Discount Rate | 5.0% | 13.9% | 10.5% |
| Second Lien Secured Debt      | 45,454 |  | Broker Quoted | Broker Quote | N/A | N/A | N/A |
|                          | 9,934 |  | Market Comparable Technique | Comparable Multiple | 1.1x | 7.8x | 7.2x |
|                          | 44,148 |  | Recent Transaction | Recent Transaction | N/A | N/A | N/A |
|                          | 29,760 |  | Recovery Analysis | Commodity Price | $56.00 | $63.00 | $62.24 |
|                          | 342,383 |  | Yield Analysis | Discount Rate | 10.9% | 12.8% | 12.1% |
| Unsecured Debt                | 2,705 |  | Discounted Cash Flow | Discount Rate | 35.0% | 35.0% | 35.0% |
|                          | 89,743 |  | Yield Analysis | Discount Rate | 11.1% | 16.8% | 11.7% |
| Structured Products and Other | 97,884 |  | Discounted Cash Flow | Discount Rate | 9.0% | 11.0% | 10.1% |
| Preferred Equity              | 25,690 |  | Option Pricing Model | Expected Volatility | 35.5% | 35.5% | 35.5% |
| Common Equity/Interests       | 169,736 |  | Discounted Cash Flow | Discount Rate | 9.1% | 35.0% | 13.4% |
|                          | 6,610 |  | Market Comparable Technique | Comparable Multiple | 7.8x | 11.1x | 8.9x |
|                          | 31,750 |  | Recovery Analysis | Commodity Price | $52.00 | $63.00 | $59.38 |
|                          | — |  | Transaction Price | Expected Proceeds | N/A | N/A | N/A |
| Warrants                      | 129 |  | Option Pricing Model | Expected Volatility | 60.0% | 60.0% | 60.0% |
| Total Level 3 Investments     | $ | 2,065,243 |  |   |   |   |   |   |

|     |                                                                                                                                                                                                                                                                                                                                                        |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (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 December 31, |   | Nine Months Ended December 31, |
|                                                 | 2017 |   | 2016 |   | 2017 |   | 2016 |
| PIK balance at beginning of period                   | $ | 27,696 |  |   | $ | 93,273 |  |   | $ | 53,262 |  |   | $ | 73,409 |  |
| PIK income capitalized                               | 2,129 |  |   | 1,639 |  |   | 12,630 |  |   | 22,787 |  |
| Adjustments due to investments exited or written off | — |  |   | (6,192 | ) |   | (35,697 | ) |   | (6,192 | ) |
| PIK income received in cash                          | — |  |   | (1,606 | ) |   | (370 | ) |   | (2,890 | ) |
| PIK balance at end of period                         | $ | 29,825 |  |   | $ | 87,114 |  |   | $ | 29,825 |  |   | $ | 87,114 |  |

----

Table of Contents

|                       |
|-----------------------|
|                       |  |  |  |  |  |  |  |
|                  | Nine Months Ended December 31, |
|                  | 2017 |   | 2016 |
| Net revenue           | $ | 85,164 |  |   | $ | 95,839 |  |
| Net operating income  | 50,685 |  |   | 56,700 |  |
| Earnings before taxes | 19,983 |  |   | 8,040 |  |
| Net profit            | 19,833 |  |   | 7,551 |  |

----

Table of Contents

|                       |
|-----------------------|
|                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                  | December 31, 2017 |
| Underlying Risk Type  | Base Notional Assets |   | Derivative Assets Fair Value |   | Base Notional Liabilities |   | Derivative Liabilities Fair Value |
| Commodity:            |   |   |   |   |   |   |   |
| Purchased Put Options | $ | 153,450 |  |   | $ | 2,043 |  |   | $ | — |  |   | $ | — |  |
| Written Call Options  | — |  |   | — |  |   | (195,949 | ) |   | (15,990 | ) |

----

Table of Contents

|                                                |
|------------------------------------------------|
|                                                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                           | Three Months Ended December 31, |   | Nine Months Ended December 31, |
|                                           | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Net Change in Unrealized Losses on Derivatives |   |   |   |   |   |   |   |
| Purchased Put Options                          | $ | (4,071 | ) |   | $ | (1,696 | ) |   | $ | (5,108 | ) |   | $ | (1,696 | ) |
| Written Call Options                           | (8,029 | ) |   | (1,562 | ) |   | (8,865 | ) |   | (1,562 | ) |
| Credit Default Swaps                           | — |  |   | (788 | ) |   | — |  |   | (788 | ) |
| Net Change in Unrealized Losses on Derivatives | $ | (12,100 | ) |   | $ | (4,046 | ) |   | $ | (13,973 | ) |   | $ | (4,046 | ) |

|                                    |
|------------------------------------|
|                                    |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                               | Three Months Ended December 31, |   | Nine Months Ended December 31, |
|                               | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Net Realized Losses on Derivatives |   |   |   |   |   |   |   |
| Purchased Put Options              | $ | (1,210 | ) |   | $ | — |  |   | $ | (1,215 | ) |   | $ | — |  |
| Written Call Options               | 596 |  |   | — |  |   | 596 |  |   | — |  |
| Credit Default Swaps               | — |  |   | — |  |   | — |  |   | — |  |
| Net Realized Losses on Derivatives | $ | (614 | ) |   | $ | — |  |   | $ | (619 | ) |   | $ | — |  |

----

Table of Contents

|                  |
|------------------|
|                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Counterparty     |   | Gross Amounts of Recognized Assets and Liabilities |   | Gross Amounts Offset in the Statements of Assets and Liabilities |   | Net Amounts Presented in the Statements of Assets and Liabilities |   | Gross Amounts Not Offset in the Statements of Assets and Liabilities |
|             |   |   |   | Financial Instruments |   | Cash Collateral |   | Net Amounts |
| CME Group:       |   |   |   |   |   |   |   |   |   |   |   |   |
| Variation Margin |   | (916 | ) |   | — |  |   | (916 | ) | (a) | — |  |   | 916 |  | (b) | — |  |

|     |                                                                                                                                                                                                                                                                                                             |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (a) | The variation margin payable on option contracts is the result of purchased put options and written call options that are settled-to-market with a fair value of $2,043 and ($15,990), respectively, as of December 31, 2017, offset against the variation margin posted with the CME amounting to $13,031. |

|     |                                                                                                                         |
|-----|-------------------------------------------------------------------------------------------------------------------------|
| (b) | Per GAAP disclosure requirements, the table above does not include excess cash collateral paid in the amount of $4,631. |

|                                                                          |
|--------------------------------------------------------------------------|
|                                                                          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                     | 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 |  |   | $ | 370,831 | * |   | $ | 380,937 |  | (1) | 12/22/2021 |
| Senior Secured Notes (Series B)                                          | 9/29/2011 |   | 16,000 |  |   | 16,000 |  |   | 16,341 |  | (1) | 9/29/2018 |
| 2043 Notes                                                               | 6/17/2013 |   | 150,000 |  |   | 150,000 |  |   | 156,420 |  | (2) | 7/15/2043 |
| 2025 Notes                                                               | 3/3/2015 |   | 350,000 |  |   | 350,000 |  |   | 358,846 |  | (3) | 3/3/2025 |
| Total Debt Obligations                                                   |   |   | $ | 1,706,000 |  |   | $ | 886,831 |  |   | $ | 912,544 |  |   |   |
| Deferred Financing Cost and Debt Discount                                |   |   |   | $ | (11,666 | ) |   |   |   |   |
| Total Debt Obligations, net of Deferred Financing Cost and Debt Discount |   |   |   | $ | 875,165 |  |   |   |   |   |

|   |                                                                                                                            |
|---|----------------------------------------------------------------------------------------------------------------------------|
| * | 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 December 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 December 31, 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 December 31, 2017. The valuation is based on broker quoted prices. |

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

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|   |                                                                                                                            |
|---|----------------------------------------------------------------------------------------------------------------------------|
| * | 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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|                                               |
|-----------------------------------------------|
|                                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                          | Three Months Ended December 31, |   | Nine Months Ended December 31, |
|                                          | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Average debt outstanding                      | $ | 863,916 |  |   | $ | 988,106 |  |   | $ | 909,872 |  |   | $ | 1,083,307 |  |
| Maximum amount of debt outstanding            | 918,439 |  |   | 1,040,698 |  |   | 1,056,929 |  |   | 1,363,533 |  |
|                                          |   |   |   |   |   |   |   |
| Weighted average annualized interest cost (1) | 5.07 | % |   | 5.21 | % |   | 5.30 | % |   | 5.04 | % |
| Annualized amortized debt issuance cost       | 0.60 | % |   | 0.61 | % |   | 0.59 | % |   | 0.59 | % |
| Total annualized interest cost                | 5.67 | % |   | 5.82 | % |   | 5.89 | % |   | 5.63 | % |

|     |                                                                                                                                                                                                                                                                                                                                                    |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | Includes the stated interest expense and commitment fees on the unused portion of the Senior Secured Facility. Commitment fees for the three and nine months ended December 31, 2017 were $803 and $2,424, respectively. Commitment fees for the three and nine months ended December 31, 2016 were $891 and $2,488, respectively. |

|                 |
|-----------------|
|                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|            | Original Principal Amount (Local) |   | Original Principal Amount (USD) |   | Principal Amount Outstanding |   | Unrealized Gain/(Loss) |   | Reset Date |
| Canadian Dollar | C$ | 2,300 |  |   | $ | 1,894 |  |   | $ | 1,836 |  |   | $ | 58 |  |   | 1/16/2018 |
| Euro            | € | 14,000 |  |   | 15,129 |  |   | 16,811 |  |   | (1,682 | ) |   | 1/11/2018 |
| Euro            | € | 12,500 |  |   | 13,506 |  |   | 15,010 |  |   | (1,504 | ) |   | 1/29/2018 |
| British Pound   | £ | 4,600 |  |   | 6,094 |  |   | 6,223 |  |   | (129 | ) |   | 1/16/2018 |
| British Pound   | £ | 100,500 |  |   | 152,073 |  |   | 135,951 |  |   | 16,122 |  |   | 1/31/2018 |
|            |   |   | $ | 188,696 |  |   | $ | 175,831 |  |   | $ | 12,865 |  |   |   |

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

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|                               |
|-------------------------------|
|                               |  |  |  |  |  |  |  |  |  |  |  |  |
| Date of Agreement/Amendment   |   | Maximum Cost of Shares That May Be Repurchased |   | Cost of Shares Repurchased |   | Remaining Cost of Shares That May Be Repurchased |
| August 5, 2015                |   | $ | 50,000 |  |   | $ | 50,000 |  |   | $ | — |  |
| December 14, 2015             |   | 50,000 |  |   | 50,000 |  |   | — |  |
| September 14, 2016            |   | 50,000 |  |   | 8,957 |  |   | 41,043 |  |
| Total as of December 31, 2017 |   | $ | 150,000 |  |   | $ | 108,957 |  |   | $ | 41,043 |  |

|                    |
|--------------------|
|                    |  |  |  |  |  |  |
| 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 |  |
| January 3, 2018    |   | February 8, 2018 |   | 10,000 |  |

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|                                                                             |
|-----------------------------------------------------------------------------|
|                                                                             |  |  |  |  |  |  |  |
|                                                                        | December 31, 2017 |   | March 31, 2017 |
| Unfunded revolver obligations and bridge loan commitments (1)               | $ | 296,749 |  |   | $ | 227,906 |  |
| Standby letters of credit issued and outstanding (2)                        | 15,555 |  |   | 14,203 |  |
| Unfunded delayed draw loan commitments (3)                                  | 4,108 |  |   | 28,649 |  |
| Unfunded delayed draw loan commitments (performance thresholds not met) (4) | 17,444 |  |   | 30,678 |  |
| Total Unfunded Commitments                                                  | $ | 333,856 |  |   | $ | 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 December 31, 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 December 31, 2017 and March 31, 2017, the bridge loan commitments included in the balances were $188,751 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 December 31, 2017 and March 31, 2017. |

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|                                                                                |
|--------------------------------------------------------------------------------|
|                                                                                |  |  |  |  |  |  |  |
|                                                                           | Nine Months Ended December 31, 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)                                                      | 0.46 |  |   | 0.67 |  |
| Net realized and change in unrealized losses (1)                               | (0.16 | ) |   | (0.59 | ) |
| Net increase in net assets resulting from operations                           | 0.30 |  |   | 0.08 |  |
| Distribution of net investment income (2)                                      | (0.45 | ) |   | (0.65 | ) |
| Distribution of return of capital (2)                                          | — |  |   | — |  |
| Accretion due to share repurchases                                             | 0.01 |  |   | 0.04 |  |
| Net asset value at end of period                                               | $ | 6.60 |  |   | $ | 6.74 |  |
|                                                                           |   |   |   |
| Per share market value at end of period                                        | $ | 5.66 |  |   | $ | 6.56 |  |
| Total return (3)                                                               | (7.20 | )% |   | 31.44 | % |
| Shares outstanding at end of period                                            | 218,255,954 |  |   | 219,694,654 |  |
| Weighted average shares outstanding                                            | 219,253,280 |  |   | 222,415,073 |  |
|                                                                           |   |   |   |
| Ratio/Supplemental Data                                                        |   |   |   |
| Net assets at end of period (in millions)                                      | $ | 1,441.1 |  |   | $ | 1,481.8 |  |
| Annualized ratio of operating expenses to average net assets (4)(5)            | 5.07 |  % |   | 4.59 | % |
| Annualized ratio of interest and other debt expenses to average net assets (5) | 3.66 |  % |   | 3.86 | % |
| Annualized ratio of total expenses to average net assets (4)(5)                | 8.73 |  % |   | 8.45 | % |
| Annualized ratio of net investment income to average net assets (5)            | 9.17 |  % |   | 9.66 | % |
| Average debt outstanding (in millions)                                         | $ | 909.9 |  |   | $ | 1,048.7 |  |
| Average debt per share                                                         | $ | 4.15 |  |   | $ | 4.71 |  |
| Annualized portfolio turnover rate (5)                                         | 44.98 |  % |   | 23.25 | % |
| Asset coverage per unit (6)                                                    | $ | 2,625 |  |   | $ | 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 December 31, 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 nine months ended December 31, 2017, the annualized ratio of operating expenses to average net assets and the annualized ratio of total expenses to average net assets would be 6.45% and 10.11%, 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 nine months ended December 31, 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 December 31, |   | Nine Months Ended December 31, |
| (in millions)*                                             | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Investments made in portfolio companies                    | $ | 198.4 |  |   | $ | 201.3 |  |   | $ | 806.0 |  |   | $ | 451.7 |  |
| Investments sold                                           | (48.1 | ) |   | (17.1 | ) |   | (69.7 | ) |   | (181.1 | ) |
| Net activity before repaid investments                     | 150.3 |  |   | 184.2 |  |   | 736.3 |  |   | 270.6 |  |
| Investments repaid                                         | (156.7 | ) |   | (178.2 | ) |   | (726.8 | ) |   | (568.7 | ) |
| Net investment activity                                    | $ | (6.4 | ) |   | $ | 6.0 |  |   | $ | 9.5 |  |   | $ | (298.1 | ) |
|                                                            |   |   |   |   |   |   |   |
| Portfolio companies at beginning of period                 | 87 |  |   | 82 |  |   | 86 |  |   | 89 |  |
| Number of new portfolio companies                          | 8 |  |   | 13 |  |   | 31 |  |   | 24 |  |
| Number of exited portfolio companies                       | (9 | ) |   | (10 | ) |   | (31 | ) |   | (28 | ) |
| Portfolio companies at end of period                       | 86 |  |   | 85 |  |   | 86 |  |   | 85 |  |
|                                                            |   |   |   |   |   |   |   |
| Number of investments made in existing portfolio companies | 12 |  |   | 8 |  |   | 19 |  |   | 21 |  |

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

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|                                                 |
|-------------------------------------------------|
|                                                 |  |  |  |  |  |  |  |
|                                            | December 31, 2017 |   | March 31, 2017 |
| Portfolio composition, at fair value:           |   |   |   |
| Secured debt                                    | 81 | % |   | 75 | % |
| Unsecured debt                                  | 5 | % |   | 7 | % |
| Structured products and other                   | 4 | % |   | 7 | % |
| Preferred equity                                | 1 | % |   | 1 | % |
| Common equity/interests and warrants            | 9 | % |   | 10 | % |
| Weighted average yields, at amortized cost (1): |   |   |   |
| Secured debt portfolio (2)                      | 10.5 | % |   | 10.2 | % |
| Unsecured debt portfolio (2)                    | 11.2 | % |   | 11.1 | % |
| Total debt portfolio (2)                        | 10.5 | % |   | 10.3 | % |
| Total portfolio (3)                             | 9.6 | % |   | 8.7 | % |
| Interest rate type, at fair value (4):          |   |   |   |
| Fixed rate amount                               |  | $0.1 |  billion |   |  | $0.2 |  billion |
| Floating rate amount                            |  | $1.3 |  billion |   |  | $1.1 |  billion |
| Fixed rate, as percentage of total              | 8 | % |   | 16 | % |
| Floating rate, as percentage of total           | 92 | % |   | 84 | % |
| Interest rate type, at amortized cost (4):      |   |   |   |
| 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) | Exclusive of investments on non-accrual status. |

|     |                                                                                                                          |
|-----|--------------------------------------------------------------------------------------------------------------------------|
| (3) | Inclusive of all income generating investments, non-income generating investments and investments on non-accrual status. |

|     |                                                                                                                                                                                                                                |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (4) | 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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|    |                                                                                                                                                                                             |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 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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|                                                                                 |
|---------------------------------------------------------------------------------|
|                                                                                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                 | Three Months Ended December 31, |  | Nine Months Ended December 31, |
| (in millions)*                                                                  | 2017 |  | 2016 |  | 2017 |  | 2016 |
| Investment Income                                                               |  |  |  |  |  |  |  |  |  |  |  |
| Interest income (excluding Payment-in-kind (“PIK”) interest income) | $ | 51.8 |  |  | $ | 46.3 |  |  | $ | 159.4 |  |  | $ | 160.2 |  |
| Dividend income                                                                 | 5.6 |  |  | 11.4 |  |  | 15.9 |  |  | 28.7 |  |
| PIK interest income                                                             | 5.8 |  |   | 9.4 |  |   | 17.6 |  |   | 21.6 |  |
| Other income                                                                    | 1.5 |  |  | 0.9 |  |  | 5.0 |  |  | 3.1 |  |
| Total investment income                                                         | $ | 64.8 |  |  | $ | 68.1 |  |  | $ | 197.8 |  |  | $ | 213.6 |  |
| Expenses                                                                        |  |  |  |  |  |  |  |
| Management and performance-based incentive fees, net of amounts waived          | $ | 14.5 |  |  | $ | 13.4 |  |  | $ | 44.8 |  |  | $ | 40.5 |  |
| Interest and other debt expenses, net of reimbursements                         | 12.3 |  |  | 14.5 |  |  | 40.2 |  |  | 45.6 |  |
| Administrative services expense, net of reimbursements                          | 1.6 |  |  | 1.5 |  |  | 4.9 |  |  | 5.6 |  |
| Other general and administrative expenses                                       | 2.3 |  |  | 2.3 |  |  | 6.4 |  |  | 9.9 |  |
| Net Expenses                                                                    | $ | 30.8 |  |  | $ | 31.7 |  |  | $ | 96.4 |  |  | $ | 101.6 |  |
| Net Investment Income                                                           | $ | 34.0 |  |   | $ | 36.4 |  |   | $ | 101.4 |  |  | $ | 112.0 |  |
| Net Realized and Change in Unrealized Gains (Losses)                            |  |   |  |  |   |  |  |  |  |  |
| Net realized gains (losses)                                                     | $ | (0.6 | ) |   | $ | 39.2 |  |   | $ | (238.0 | ) |  | $ | 44.7 |  |
| Net change in unrealized losses                                                 | (27.6 | ) |   | (64.2 | ) |   | 202.9 |  |  | (146.3 | ) |
| Net Realized and Change in Unrealized Losses                                    | (28.1 | ) |   | (25.0 | ) |   | (35.0 | ) |   | (101.6 | ) |
| Net Increase in Net Assets Resulting from Operations                            | $ | 5.8 |  |   | $ | 11.3 |  |   | $ | 66.4 |  |   | $ | 10.3 |  |
|                                                                            |   |   |   |   |   |   |   |
| Net Investment Income on Per Average Share Basis                                | $ | 0.16 |  |   | $ | 0.17 |  |   | $ | 0.46 |  |   | $ | 0.50 |  |
| Earnings Per Share                                                              | $ | 0.03 |  |   | $ | 0.05 |  |   | $ | 0.30 |  |   | $ | 0.05 |  |

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

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|                                             |
|---------------------------------------------|
|                                             |  |  |  |  |
| (in millions)                               | Net Realized Gain (Loss) |   |
| Renew Financial LLC                         | $ | 3.8 |  |   |
| Ivy Hill Middle Market Credit Fund IX, Ltd. | 2.0 |  |   |
| Ivy Hill Middle Market Credit Fund X, Ltd.  | (0.2 | ) | * |
| Solarplicity Group Limited                  | (0.2 | ) |   |

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|                            |
|----------------------------|
|                            |  |  |  |
| (in millions)              | Net Realized Gain (Loss) |
| Golden Bear Warehouse LLC  | $ | 34.2 |  |
| Dark Castle Holdings, LLC  | 2.5 |  |
| Explorer Coinvest, LLC     | 2.2 |  |
| MCF CLO I, LLC             | 2.1 |  |
| Solarplicity Group Limited | (2.0 | ) |

|                                                        |
|--------------------------------------------------------|
|                                                        |  |  |  |  |
| (in millions)                                          | Net Realized Gain (Loss) |   |
| Renew Financial LLC (f/k/a Renewable Funding, LLC)     | $ | 7.8 |  |   |
| Ivy Hill Middle Market Credit Fund IX, Ltd.            | 2.0 |  |   |
| Venoco, Inc.                                           | (89.0 | ) | * |
| Delta Educational Systems, Inc./Gryphon Colleges Corp. | (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.          | $ | 46.2 |  |
| Golden Bear Warehouse LLC                 | 34.2 |  |
| Explorer Coinvest, LLC                    | 3.3 |  |
| Dark Castle Holdings, LLC                 | 2.5 |  |
| MCF CLO I, LLC                            | 2.1 |  |
| Osage Exploration & Development, Inc. | (19.4 | ) |
| Aveta, Inc.                               | (11.9 | ) |
| Aventine Renewable Energy Holdings, Inc.  | (3.6 | ) |
| Energy & Exploration Partners, Inc.   | (2.4 | ) |
| Radio One, Inc.                           | (2.3 | ) |
| Solarplicity Group Limited                | (2.2 | ) |

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|                                            |
|--------------------------------------------|
|                                            |  |  |  |
| (in millions)                              | Net Change in Unrealized Gain (Loss) |
| SHD Oil & Gas, LLC                     | $ | 4.3 |  |
| Glacier Oil & Gas Corp.                | 2.3 |  |
| STG-Fairway Acquisitions, Inc.             | 0.9 |  |
| Ivy Hill Middle Market Credit Fund X, Ltd. | 0.6 |  |
| Elements Behavioral Health, Inc.           | (8.3 | ) |
| Solarplicity Group Limited                 | (6.8 | ) |
| Merx Aviation Finance, LLC                 | (1.7 | ) |
| Asset Repackaging Trust Six B.V.           | (0.9 | ) |
| Lanai Holdings III, Inc.                   | (0.9 | ) |

|                                 |
|---------------------------------|
|                                 |  |  |  |
| (in millions)                   | Net Change in Unrealized Gain (Loss) |
| SHD Oil & Gas, LLC          | $ | 4.7 |  |
| MCF CLO III, LLC                | 3.9 |  |
| AMP Solar Group, Inc.           | 3.8 |  |
| Golden Bear Warehouse LLC       | (33.0 | ) |
| Venoco, Inc.                    | (27.6 | ) |
| Solarplicity Group Limited      | (21.1 | ) |
| Maxus Capital Carbon SPE I, LLC | (2.3 | ) |

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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                   | 10.7 |  |
| SCM Insurance Services, Inc.       | 7.9 |  |
| Clothesline Holdings, Inc.         | 6.0 |  |
| Sungevity Inc.                     | 4.4 |  |
| Solarplicity Group Limited         | 3.0 |  |
| SHD Oil & Gas, LLC             | 2.8 |  |
| Elements Behavioral Health, Inc.   | (9.2 | ) |
| Merx Aviation Finance, LLC         | (3.6 | ) |
| Sprint Industrial Holdings, LLC.   | (2.1 | ) |
| Golden Bear 2016-R, LLC            | (1.8 | ) |

|                                           |
|-------------------------------------------|
|                                           |  |  |  |
| (in millions)                             | Net Change in Unrealized Gain (Loss) |
| Osage Exploration & Development, Inc. | $ | 19.3 |  |
| Aveta, Inc.                               | 13.2 |  |
| MCF CLO III, LLC                          | 8.3 |  |
| Radio One, Inc.                           | 4.7 |  |
| SHD Oil & Gas, LLC                    | 4.3 |  |
| Generation Brands Holdings, Inc.          | (43.8 | ) |
| Venoco, Inc.                              | (42.2 | ) |
| Solarplicity Group Limited                | (42.1 | ) |
| Garden Fresh Restaurant Corp.             | (33.9 | ) |
| Delta Career Education Corporation        | (22.4 | ) |
| Golden Bear Warehouse LLC                 | (16.7 | ) |
| LVI Group Investments, LLC                | (11.2 | ) |

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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)     | $ | 370.8 |  |   | $ | — |  |   | $ | — |  |   | $ | 370.8 |  |   | $ | — |  |
| Senior Secured Notes (Series B) | 16.0 |  |   | 16.0 |  |   | — |  |   | — |  |   | — |  |
| 2043 Notes                      | 150.0 |  |   | — |  |   | — |  |   | — |  |   | 150.0 |  |
| 2025 Notes                      | 350.0 |  |   | — |  |   | — |  |   | — |  |   | 350.0 |  |
| Total Debt Obligations          | $ | 886.8 |  |   | $ | 16.0 |  |   | $ | — |  |   | $ | 370.8 |  |   | $ | 500.0 |  |

|     |                                                                                                                                                                                                                                                                                                                                                                                           |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | As of December 31, 2017, aggregate lender commitments under the Senior Secured Facility totaled $1.19 billion and $805.4 million of unused capacity. As of December 31, 2017, there were $13.7 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. |

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|                             |
|-----------------------------|
|                             |  |  |  |  |  |  |  |  |
| Basis Point Change          |   | Net Investment Income |   | Net Investment Income Per Share |
|  Up 400 basis points   |   | $ | 28.1 |  million |   | $ | 0.129 |  |
|  Up 300 basis points   |   | $ | 21.1 |  million |   | $ | 0.097 |  |
|  Up 200 basis points   |   | $ | 14.1 |  million |   | $ | 0.064 |  |
|  Up 100 basis points   |   | $ | 7.0 |  million |   | $ | 0.032 |  |
|  Down 100 basis points |   | $ | (3.6 | ) million |   | $ | (0.017 | ) |

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|                               |
|-------------------------------|
|                               |  |  |  |  |  |  |  |  |  |  |  |  |
| Date of Agreement/Amendment   |   | Maximum Cost of Shares That May Be Repurchased |   | Cost of Shares Repurchased |   | Remaining Cost of Shares That May Be Repurchased |
| August 5, 2015                |   | $ | 50.0 |  million |   | $ | 50.0 |  million |   | $ | — |  |
| December 14, 2015             |   | 50.0 |  million |   | 50.0 |  million |   | — |  |
| September 14, 2016            |   | 50.0 |  million |   | 9.0 |  million |   | 41.0 |  million |
| Total as of December 31, 2017 |   | $ | 150.0 |  million |   | $ | 109.0 |  million |   | $ | 41.0 |  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 |
| January 3, 2018    |   | February 8, 2018 |   | 10.0 |  million |

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|                |
|----------------|
|                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 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 |
| October 2017   |   | 434,600 |  |   | 5.99 |  |   | 434,600 |  |   | 43.1 |  million |
| November 2017  |   | 193,500 |  |   | 5.93 |  |   | 193,500 |  |   | 41.9 |  million |
| December 2017  |   | 150,300 |  |   | 5.96 |  |   | 150,300 |  |   | 41.0 |  million |
| Total          |   | 18,485,397 |  |   | $ | 5.89 |  |   | 18,485,397 |  |   |   |

|        |
|--------|
|        |  |
| 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. |

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|     |                                                                                                                                                                                                      |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (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 |