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Class I Shares2025-09-300001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class H Shares2025-09-300001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class G Shares2025-09-300001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class F Shares2025-09-300001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class E Shares2025-09-300001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class D Shares2025-09-300001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class C Shares2025-09-300001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class B Shares2025-09-300001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class A Shares2025-09-300001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class 2 Ordinary Shares2025-09-300001551901Monitorus Holding, LLC Sapphire Aggregator S.a r.l. Convertible Bonds Two2025-09-300001551901Monitorus Holding, LLC Sapphire Aggregator S.a r.l. Convertible Bonds One2025-09-300001551901Monarch Behavioral Therapy, LLC, BI Investors, LLC Class A Units2025-09-300001551901MOM Enterprises, LLC MBliss SPC Holdings, LLC Units2025-09-300001551901Michelli, LLC, SP MWM Holdco LLC Class A Units2025-09-300001551901MBH Management LLC, MBH Parent, LLC Common Units2025-09-300001551901Madison Logic Holdings, Inc.BC Partners Glengarry Co-Investment LP Class 1 Interests2025-09-300001551901MacKenzie Childs Acquisition Inc, MacKenzie-Childs Investment, LP Partnership Interests2025-09-300001551901Lightning Intermediate II, LLC Gauge Vimergy Coinvest, LLC Units2025-09-300001551901Ledge Lounger, Inc. SP L2 Holdings LLC Class C Units (SBIC)2025-09-300001551901Ledge Lounger, Inc. SP L2 Holdings LLC Class A Units (SBIC)2025-09-300001551901J.R. Watkins, LLC Term Loan (SBIC) One2025-09-300001551901J.R. Watkins, LLC Term Loan (SBIC)2025-09-300001551901J.R. Watkins, LLC Priority Revolver (SBIC)2025-09-300001551901J.R. 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Class A Units2025-09-300001551901EH Real Estate Services, LLC, Term Loan A52025-09-300001551901EH Real Estate Services, LLC, Term Loan A42025-09-300001551901EH Real Estate Services, LLC, Term Loan A32025-09-300001551901EH Real Estate Services, LLC, Term Loan A22025-09-300001551901EH Real Estate Services, LLC, Term Loan A12025-09-300001551901EH Real Estate Services, LLC, Revolver2025-09-300001551901EH Real Estate Services, LLC, EH Holdco, LLC Common Units2025-09-300001551901EH Real Estate Services, LLC EH Holdco, LLC Series A Preferred Units2025-09-300001551901DTE Holding Company, LLC Class AA Units2025-09-300001551901DTE Holding Company, LLC Class A-2 Units2025-09-300001551901DMD Systems Recovery, LLC Phoenix Parent LLC Common Units2025-09-300001551901DFO Enterprises, LLC DFO Ultimate Holding, LP Class A Units2025-09-300001551901Curion Holdings, LLC SP CS Holdings LLC Class A Units2025-09-300001551901Craftable Intermediate II Inc, Gauge Craftable LP Partnership Interests2025-09-300001551901COPILOT Provider Support Services, LLC QHP Project Captivate Blocker, Inc. Common Stock2025-09-300001551901Compost 360 Investments, LLC Class A Units2025-09-300001551901Compost 360 Acquisition, LLC, Preferred Units2025-09-300001551901CompleteCase, LLC CompleteCase Holdings, Inc. Series A Preferred Stock (SBIC II)2025-09-300001551901CompleteCase, LLC CompleteCase Holdings, Inc. Class A Common Stock (SBIC II)2025-09-300001551901Complete Case LLC Complete Case Holdings Inc. Series C Preferred Stock2025-09-300001551901Complete Case LLC Complete Case Holdings Inc. Class A Common Stock2025-09-300001551901Champion Services Acquireco LLC, Champion Services Holdings LLC Class A-1 Units2025-09-300001551901CF512, Inc. StellPen Holdings, LLC Membership Interests2025-09-300001551901CF Arch Holdings LLC Class A Units2025-09-300001551901Cerebro Buyer, LLC Cerebro Holdings Partnership, L.P. Series B Partner Interests2025-09-300001551901Cerebro Buyer, LLC Cerebro Holdings Partnership, L.P. Series A Partner Interests2025-09-300001551901CEATI International Inc. 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Series B Preferred Interests2025-09-300001551901Advanced Barrier Extrusions, LLC GP ABX Holdings Partnership, L.P. Partner Interests2025-09-300001551901ADS Group Topco, LLC Class Z Units2025-09-300001551901ADS Group Topco, LLC Class Y Units2025-09-300001551901ADS Group Topco, LLC Class D Units2025-09-300001551901ADS Group Topco, LLC Class B Units2025-09-300001551901ADS Group Topco, LLC Class A Units2025-09-300001551901ADS Group Opco, LLC, Priority Revolver (SBIC II)2025-09-300001551901ADS Group Opco, LLC Term Loan (SBIC II)2025-09-300001551901AdCellerant Holdings, LLC Series A Units2025-09-300001551901Ad.Net Acquisition, LLC Ad.Net Holdings, Inc. Series A Preferred Stock (SBIC II)2025-09-300001551901Ad.Net Acquisition, LLC Ad.Net Holdings, Inc. Series A Common Stock (SBIC II)2025-09-3000015519012X LLC Investors LP Class A Units2025-09-300001551901us-gaap:RetailSectorMemberus-gaap:InvestmentUnaffiliatedIssuerMemberscm:ChannelPartnersIntermediatecoLlcMember2024-12-310001551901Xanitos, Inc. Pure TopCo, LLC Class A Units2024-12-310001551901Whisps Holdings LP Class A-1 Units2024-12-310001551901Whisps Holdings LP Class A Units2024-12-310001551901WER Holdings, LLC Blade Landscape Investments, LLC Class A Units2024-12-310001551901Venbrook Buyer, LLC Venbrook Holdings, LLC Convertible Term Loan2024-12-310001551901Venbrook Buyer, LLC Venbrook Holdings, LLC Common Units2024-12-310001551901USDTL AcquisitionCo, Inc. USDTL Holdings, LLC Preferred Units2024-12-310001551901Unicat Catalyst Holdings, LLC Unicat Catalyst, LLC Class A-1 Units2024-12-310001551901Unicat Catalyst Holdings, LLC Unicat Catalyst, LLC Class A Units2024-12-310001551901U.S. Expediters, LLC Cathay Hypnos LLC Units2024-12-310001551901TriplePoint Acquisition Holdings LLC TriplePoint Holdco LLC Class A Units2024-12-310001551901TradePending OpCo Aggregator, LLC TradePending Holdings, LLC Series A-1 Units2024-12-310001551901TradePending OpCo Aggregator, LLC TradePending Holdings, LLC Series A Units2024-12-310001551901Trade Education Acquisition, L.L.C. Trade Education Holdings, L.L.C. Class A Units2024-12-310001551901Trade Education Acquisition, L.L.C. Term Loan (SBIC)2024-12-310001551901Tiger 21, LLC Tiger 21 Blocker, Inc. Class A-3 Common Stock2024-12-310001551901The Hardenbergh Group, Inc, BV HGI Holdings, L.P. Class A Units2024-12-310001551901Teckrez, LLC, HH-Teckrez Parent, LP Preferred Units2024-12-310001551901TAC LifePort Holdings, LLC, Common Units2024-12-310001551901Sales Benchmark Index, LLC, SBI Holdings Investments LLC Class A Units2024-12-310001551901Said Intermediate, LLC, FCP-Said Holdings, LLC Series A Preferred Shares2024-12-310001551901Said Intermediate, LLC, FCP-Said Holdings, LLC Class A Common Shares2024-12-310001551901RIA Advisory Borrower, LLC, RIA Products Aggregator, LLC Class A Units2024-12-310001551901RIA Advisory Borrower, LLC, RIA Advisory Aggregator, LLC ClassA Units2024-12-310001551901Red's All Natural, LLC Centeotl Co-Invest B, LP Common Units2024-12-310001551901Premiere Digital Services, Inc.,Premiere Digital Holdings, Inc. Common Stock2024-12-310001551901Peltram Group Holdings LLC Class A units2024-12-310001551901PCS Software, Inc. PCS Software Parent LLC Class A Common Units2024-12-310001551901PCP MT Aggregator Holdings, L.P. Common Units2024-12-310001551901Onpoint Industrial Services, LLC, Spearhead Topco, LLC Class A Units2024-12-310001551901NuSource Financial Acquisition, Inc. Nusourse Holdings Inc. Warrants (SBIC II)2024-12-310001551901NS412, LLC NS Group Holding Company, LLC Class A Units2024-12-310001551901Norplex Micarta Acquisition, Inc., Norplex Micarta Parent, LP Preferred Units2024-12-310001551901NINJIO, LLC, NINJIO Holdings, LLC Units2024-12-310001551901NINJIO, LLC Gauge NINJIO Blocker LLC Preferred Units2024-12-310001551901Naumann Hobbs Holdings, L.P. Class B Units2024-12-310001551901Naumann Hobbs Holdings, L.P. Class A-2 Units2024-12-310001551901Naumann Hobbs Holdings, L.P. Class A-1 Units2024-12-310001551901Morgan Electrical Group Intermediate Holdings, Inc. Morgan Electrical Group Holdings, LLC Series A-2 Preferred Units2024-12-310001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class I Shares2024-12-310001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class H Shares2024-12-310001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class G Shares2024-12-310001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class F Shares2024-12-310001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class E Shares2024-12-310001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class D Shares2024-12-310001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class C Shares2024-12-310001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class B Shares2024-12-310001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class A Shares2024-12-310001551901Monitorus Holding, LLC Sapphire Aggregator S.a r.l. Convertible Bonds Two2024-12-310001551901Monitorus Holding, LLC Sapphire Aggregator S.a r.l. Convertible Bonds One2024-12-310001551901Monitorus Holding Llc Sapphire Aggregator S A R L Convertible Bonds Three2024-12-310001551901Monarch Behavioral Therapy, LLC BI Investors, LLC Class A Units2024-12-310001551901MOM Enterprises, LLC MBliss SPC Holdings, LLC Units2024-12-310001551901Michelli, LLC, SP MWM Holdco LLC Class A Units2024-12-310001551901MBH Management LLC MBH Parent, LLC Common Units2024-12-310001551901Madison Logic Holdings Inc BC Partners Glengarry Co-Investment LP Class 1 Interests2024-12-310001551901MacKenzie Childs Acquisition Inc, MacKenzie-Childs Investment, LP Partnership Interests2024-12-310001551901Lightning Intermediate II, LLC Gauge Vimergy Coinvest, LLC Units2024-12-310001551901Ledge Lounger, Inc. SP L2 Holdings LLC Class C Units (SBIC)2024-12-310001551901Ledge Lounger, Inc. SP L2 Holdings LLC Class A Units (SBIC)2024-12-310001551901J.R. Watkins, LLC Term Loan (SBIC)2024-12-310001551901J.R. Watkins, LLC Revolver (SBIC)2024-12-310001551901J.R. Watkins, LLC J.R. Watkins Holdings, Inc. Class A Preferred Stock2024-12-310001551901Invincible Boat Company LLC Warbird Parent Holdco, LLC Class A Units2024-12-310001551901Inoapps Bidco, LLC Inoapps Holdings, LLC Series A-1 Preferred Units2024-12-310001551901Informativ, LLC, Credit Connection Holdings, LLC Series A Units2024-12-310001551901Infolinks Media Buyco, LLC Tower Arch Infolinks Media, LP LP Interests2024-12-310001551901Impact Home Services LLC, Impact Holdings Georgia LLC Class A-1 Units2024-12-310001551901Impact Home Services LLC, Impact Holdings Georgia LLC Class A Units2024-12-310001551901I2P Holdings, LLC Series A Preferred Units2024-12-310001551901HV Watterson Holdings, LLC, Delayed Draw Term Loan2024-12-310001551901HV Watterson Holdings, LLC Term Loan2024-12-310001551901HV Watterson Holdings, LLC Revolver2024-12-310001551901HV Watterson Holdings, LLC HV Watterson Parent, LLC Class A Units2024-12-310001551901HV GS Acquisition, LP Class A Interests2024-12-310001551901Husk AcquireCo Inc, SK Spectra Holdings LP Class A Units2024-12-310001551901Heartland Business Systems, LLC, AMCO HBS Holdings, LP Class A Units2024-12-310001551901Guidant Corp Titan Meter Topco LP Class A Units2024-12-310001551901Green Intermediateco II, Inc, Green Topco Holdings, LLC Class A Units2024-12-310001551901Florachem Corporation SK FC Holdings, L.P. Class A Units2024-12-310001551901FiscalNote Boards LLC, FCP-Connect Holdings LLC Series A Preferred Shares2024-12-310001551901FiscalNote Boards LLC, FCP-Connect Holdings LLC Class A Common Shares2024-12-310001551901FairWave Holdings, LLC, GRC Java Holdings, LLC Class A Units2024-12-310001551901Exigo, LLC Gauge Exigo Coinvest, LLC Common Units2024-12-310001551901Exacta Land Surveyors, LLC SP ELS Holdings LLC Class A Units2024-12-310001551901Exacta Land Surveyors LLC Term Loan Two SBIC2024-12-310001551901Exacta Land Surveyors LLC Term Loan2024-12-310001551901Evriholder Acquisition, Inc. KEJ Holdings LP Class A Units2024-12-310001551901evolv Consulting, LLC evolv Holdco, LLC Preferred Units2024-12-310001551901Eskola LLC, Eskola Holdings, LLC Class A Units2024-12-310001551901EOS Fitness Holdings, LLC Class B Common Units2024-12-310001551901EOS Fitness Holdings, LLC Class A Preferred Units2024-12-310001551901Elliott Aviation, LLC Term Loan2024-12-310001551901Elliott Aviation, LLC SP EA Holdings LLC Class A Units2024-12-310001551901EHI Buyer, Inc, EHI Group Holdings, L.P. Class A Units2024-12-310001551901EH Real Estate Services, LLC, Term Loan A52024-12-310001551901EH Real Estate Services, LLC, Term Loan A4 (SBIC)2024-12-310001551901EH Real Estate Services, LLC, Term Loan A42024-12-310001551901EH Real Estate Services, LLC, Term Loan A3 (SBIC)2024-12-310001551901EH Real Estate Services, LLC, Term Loan A32024-12-310001551901EH Real Estate Services, LLC, Term Loan A2 (SBIC)2024-12-310001551901EH Real Estate Services, LLC, Term Loan A22024-12-310001551901EH Real Estate Services, LLC, Term Loan A1 (SBIC)2024-12-310001551901EH Real Estate Services, LLC, Term Loan A12024-12-310001551901EH Real Estate Services, LLC, Revolver2024-12-310001551901EH Real Estate Services, LLC, EH Holdco, LLC Common Units2024-12-310001551901EH Real Estate Services, LLC EH Holdco, LLC Series A Preferred Units2024-12-310001551901DTE Holding Company, LLC Class AA Units2024-12-310001551901DTE Holding Company, LLC Class A-2 Units2024-12-310001551901Curion Holdings, LLC SP CS Holdings LLC Class A Units2024-12-310001551901Craftable Intermediate II Inc, Gauge Craftable LP Partnership Interests2024-12-310001551901COPILOT Provider Support Services, LLC QHP Project Captivate Blocker, Inc. Common Stock2024-12-310001551901Compost 360 Investments, LLC Class A Units2024-12-310001551901CompleteCase, LLC CompleteCase Holdings, Inc. Series A Preferred Stock (SBIC II)2024-12-310001551901CompleteCase, LLC CompleteCase Holdings, Inc. Class A Common Stock (SBIC II)2024-12-310001551901Complete Case LLC Complete Case Holdings Inc. Series C Preferred Stock2024-12-310001551901Complete Case LLC Complete Case Holdings Inc. Class A Common Stock2024-12-310001551901CF512, Inc. StellPen Holdings, LLC Membership Interests2024-12-310001551901CF Arch Holdings LLC Class A Units2024-12-310001551901Cerebro Buyer, LLC Cerebro Holdings Partnership, L.P. Series B Partner Interests2024-12-310001551901Cerebro Buyer, LLC Cerebro Holdings Partnership, L.P. Series A Partner Interests2024-12-310001551901CEATI International Inc. CEATI Holdings, LP Class A Units2024-12-310001551901Carolinas Buyer, Inc. Carolinas Holdings, L.P. Class A Units2024-12-310001551901Camp Profiles LLC CIVC VI-A 829 Blocker, LLC Units2024-12-310001551901Cafe Valley Inc. CF Topco LLC Units2024-12-310001551901BL Products Parent, L.P. Class A Units2024-12-310001551901Bart And Associates, LLC, Bamp;A Partners Holding, LLC Series A Preferred Units2024-12-310001551901Baker Manufacturing Company, LLC BSC Blue Water Holdings, LLC Series A Units (SBIC II)2024-12-310001551901Axis Portable Air, LLC Axis Air Parent, LLC Preferred Units2024-12-310001551901Atmosphere Aggregator Holdings II, L.P. Stratose Aggregator Holdings, L.P. Common Units2024-12-310001551901Atmosphere Aggregator Holdings II, L.P. Common Units2024-12-310001551901ArborWorks, LLC, ArborWorks Intermediate Holdco, LLC Class B-1 Preferred Units2024-12-310001551901ArborWorks, LLC, ArborWorks Intermediate Holdco, LLC Class A-1 Preferred Units2024-12-310001551901ArborWorks, LLC, ArborWorks Intermediate Holdco, LLC Class A-1 Common Units2024-12-310001551901ArborWorks Acquisition LLC Revolver2024-12-310001551901APE Holdings, LLC Class A Units2024-12-310001551901Anne Lewis Strategies, LLC, SG AL Investment, LLC Common-A Units2024-12-310001551901Anne Lewis Strategies, LLC SG AL Investment, LLC Common Units2024-12-310001551901Amika OpCo LLC, Oshun Co-Invest-B LP Partnership Interests2024-12-310001551901Amika OpCo LLC, Ishtar Co-Invest-B LP Partnership Interests2024-12-310001551901AMII Acquisition, LLC, AMII Holdings, LP Class B Units2024-12-310001551901American Refrigeration, LLC, AR-USA Holdings, LLC Class A Units2024-12-310001551901Advanced Barrier Extrusions, LLC Term Loan (SBIC)2024-12-310001551901Advanced Barrier Extrusions, LLC GP ABX Holdings Partnership, L.P. Series B Preferred Interests2024-12-310001551901Advanced Barrier Extrusions, LLC GP ABX Holdings Partnership, L.P. Partner Interests2024-12-310001551901ADS Group Topco LLC Pluto Aggregator LLC Class D Units2024-12-310001551901ADS Group Opco, LLC, Revolver (SBIC II)2024-12-310001551901ADS Group Opco, LLC Term Loan (SBIC II)2024-12-310001551901ADS Group Opco, LLC Pluto Aggregator, LLC Class Z Units2024-12-310001551901ADS Group Opco, LLC Pluto Aggregator, LLC Class B Units2024-12-310001551901ADS Group Opco, LLC Pluto Aggregator, LLC Class A Units2024-12-310001551901ADS Group Opco LLC Pluto Aggregator LLC Class Y Units2024-12-310001551901AdCellerant Holdings, LLC Series A Units2024-12-310001551901Ad.Net Acquisition, LLC Ad.Net Holdings, Inc. Series A Preferred Stock (SBIC II)2024-12-310001551901Ad.Net Acquisition, LLC Ad.Net Holdings, Inc. Series A Common Stock (SBIC II)2024-12-3100015519012X LLC Investors LP Class A Units2024-12-310001551901Xanitos, Inc. Term Loan (SBIC)2025-09-300001551901Xanitos, Inc. Revolver Two2025-09-300001551901Xanitos, Inc. Revolver One2025-09-300001551901Xanitos, Inc. Revolver2025-09-300001551901Xanitos, Inc. Delayed Draw Term Loan2025-09-300001551901WER Holdings, LLC Term Loan (SBIC) One2025-09-300001551901WER Holdings, LLC Term Loan (SBIC)2025-09-300001551901WER Holdings, LLC Revolver Two2025-09-300001551901WER Holdings, LLC Revolver Three2025-09-300001551901WER Holdings, LLC Revolver One2025-09-300001551901WER Holdings, LLC Revolver2025-09-300001551901WER Holdings, LLC Delayed Draw Term Loan Two2025-09-300001551901WER Holdings, LLC Delayed Draw Term Loan One2025-09-300001551901WER Holdings, LLC Delayed Draw Term Loan2025-09-300001551901USDTL AcquisitionCo, Inc. Term Loan (SBIC)2025-09-300001551901Unicat Catalyst Holdings, LLC Term Loan2025-09-300001551901U.S. Expediters, LLC Term Loan2025-09-300001551901TriplePoint Acquisition Holdings LLC Term Loan, One2025-09-300001551901TriplePoint Acquisition Holdings LLC Term Loan2025-09-300001551901TradePending OpCo Aggregator, LLC Term Loan (SBIC II) One2025-09-300001551901TradePending OpCo Aggregator, LLC Term Loan (SBIC II)2025-09-300001551901TradePending OpCo Aggregator, LLC Revolver2025-09-300001551901TradePending OpCo Aggregator, LLC Delayed Draw Term Loan2025-09-300001551901Tilley Distribution, Inc. Term Loan One2025-09-300001551901Tilley Distribution, Inc. Term Loan2025-09-300001551901Tilley Distribution, Inc. Revolver2025-09-300001551901Tiger 21, LLC Term Loan2025-09-300001551901The Millennium Alliance LLC Term Loan (SBIC II)2025-09-300001551901The Hardenbergh Group, Inc, Term Loan (SBIC II)2025-09-300001551901The Hardenbergh Group Inc Term Loan (SBIC II) One2025-09-300001551901Teckrez, LLC, Term Loan2025-09-300001551901Teckrez, LLC, Revolver One2025-09-300001551901Teckrez, LLC, Revolver2025-09-300001551901Strategus, LLC Term Loan2025-09-300001551901Solid Surface Holdco, LLC Term Loan2025-09-300001551901Said Intermediate, LLC, Term Loan2025-09-300001551901RIA Advisory Borrower, LLC, Term Loan2025-09-300001551901RIA Advisory Borrower, LLC, Revolver2025-09-300001551901Red's All Natural, LLC Term Loan (SBIC II)2025-09-300001551901Premiere Digital Services, Inc., Term Loan2025-09-300001551901Plus Delta Buyer LLC Term Loan2025-09-300001551901Pearl Media Holdings, LLC Term Loan(SBIC II)2025-09-300001551901PCS Software, Inc.Term Loan (SBIC)2025-09-300001551901PCS Software, Inc.Term Loan2025-09-300001551901PCS Software, Inc.Delayed Draw Term Loan2025-09-300001551901PCS Software, Inc. Revolver2025-09-300001551901Pacific Shoring Holdings, LLC, Term Loan2025-09-300001551901Onpoint Industrial Services, LLC, Term Loan (SBIC)2025-09-300001551901NS412, LLC Term Loan2025-09-300001551901Norplex Micarta Acquisition, Inc., Term Loan (SBIC II)2025-09-300001551901Norplex Micarta Acquisition, Inc. Revolver2025-09-300001551901NINJIO, LLC Delayed Draw Term Loan2025-09-300001551901Naumann/Hobbs Material Handling Corporation II, Inc. Term Loan (SBIC II)2025-09-300001551901Naumann/Hobbs Material Handling Corporation II, Inc. Term Loan2025-09-300001551901Naumann/Hobbs Material Handling Corporation II, Inc. Revolver2025-09-300001551901Morgan Electrical Group Intermediate Holdings, Inc Term Loan2025-09-300001551901Morgan Electrical Group Intermediate Holdings, Inc Delayed Draw Term Loan2025-09-300001551901Monitorus Holding, LLC, Delayed Draw Term Loan2025-09-300001551901Monitorus Holding, LLC Term Loan One2025-09-300001551901Monitorus Holding, LLC Term Loan2025-09-300001551901Monitorus Holding, LLC Revolver Two2025-09-300001551901Monitorus Holding, LLC Revolver One2025-09-300001551901Monarch Behavioral Therapy, LLC, Term Loan (SBIC)2025-09-300001551901Monarch Behavioral Therapy, LLC, Revolver Two2025-09-300001551901Monarch Behavioral Therapy, LLC, Revolver Three2025-09-300001551901Monarch Behavioral Therapy, LLC, Revolver One2025-09-300001551901Monarch Behavioral Therapy, LLC, Revolver Four2025-09-300001551901Monarch Behavioral Therapy, LLC, Delayed Draw Term Loan Two2025-09-300001551901Monarch Behavioral Therapy, LLC, Delayed Draw Term Loan Three2025-09-300001551901Monarch Behavioral Therapy, LLC, Delayed Draw Term Loan One2025-09-300001551901MOM Enterprises, LLC Term Loan (SBIC II)2025-09-300001551901Mobotrex Acquisition, LLC, Term Loan2025-09-300001551901Mobotrex Acquisition, LLC, Delayed Draw Term Loan2025-09-300001551901Microbe Formulas LLC Term Loan (SBIC II) One2025-09-300001551901Microbe Formulas LLC Term Loan (SBIC II)2025-09-300001551901Michelli, LLC, Term Loan (SBIC II)2025-09-300001551901Michelli, LLC Delayed Draw Term Loan2025-09-300001551901MedLearning Group, LLC, Term Loan Two2025-09-300001551901MedLearning Group, LLC, Term Loan Three2025-09-300001551901MedLearning Group, LLC, Term Loan One2025-09-300001551901MedLearning Group, LLC, Term Loan Four2025-09-300001551901MedLearning Group, LLC, Delayed Draw Term Loan2025-09-300001551901MBH Management LLC, Term Loan (SBIC II)2025-09-300001551901Madison Logic, Inc. Term Loan One2025-09-300001551901Madison Logic, Inc. Term Loan2025-09-300001551901MacKenzie Childs Acquisition Inc, Term Loan2025-09-300001551901MacKenzie Childs Acquisition Inc, Revolver Two2025-09-300001551901MacKenzie Childs Acquisition Inc, Revolver Three2025-09-300001551901MacKenzie Childs Acquisition Inc, Revolver One2025-09-300001551901Luxium Solutions, LLC, Term Loan (SBIC)2025-09-300001551901Luxium Solutions, LLC Delayed Draw Term Loan2025-09-300001551901Lightning Intermediate II, LLC Term Loan (SBIC)2025-09-300001551901Ledge Lounger, Inc. Term Loan A (SBIC)2025-09-300001551901Ledge Lounger Inc. Revolver2025-09-300001551901Invincible Boat Company LLC Revolver2025-09-300001551901International Cybernetics Acquisition, LLC, Term Loan2025-09-300001551901iNovex Information Systems Incorporated, Term Loan SBIC II2025-09-300001551901Inoapps Bidco, LLC, Term Loan B2025-09-300001551901Inoapps Bidco, LLC, Revolver2025-09-300001551901Inoapps Bidco, LLC, Delayed Draw Term Loan2025-09-300001551901Informativ, LLC, Term Loan (SBIC II), Two2025-09-300001551901Informativ, LLC, Term Loan (SBIC II), One2025-09-300001551901Infolinks Media Buyco, LLC, Term Loan2025-09-300001551901Infolinks Media Buyco, LLC, Delayed Draw Term Loan2025-09-300001551901Infolinks Media Buyco, LLC Term Loan (SBIC II)2025-09-300001551901Impact Home Services LLC, Term Loan (SBIC) Two2025-09-300001551901Impact Home Services LLC, Term Loan (SBIC) Three2025-09-300001551901Impact Home Services LLC, Term Loan (SBIC) One2025-09-300001551901Impact Home Services LLC, Revolver2025-09-300001551901Identity Theft Guard Solutions, Inc. Term Loan2025-09-300001551901Husk AcquireCo Inc, Term Loan2025-09-300001551901Heartland Business Systems, LLC, Delayed Draw Term Loan2025-09-300001551901Heartland Business Systems LLC, Term Loan (SBIC II)2025-09-300001551901Guidant Corp Revolver2025-09-300001551901GSF Buyer, LLC Term Loan2025-09-300001551901GS HVAM Intermediate, LLC Term Loan2025-09-300001551901GS HVAM Intermediate, LLC Revolver2025-09-300001551901General LED OPCO, LLC Term Loan2025-09-300001551901FiscalNote Boards LLC Term Loan2025-09-300001551901FairWave Holdings, LLC, Revolver2025-09-300001551901FairWave Holdings, LLC, Delayed Draw Term Loan2025-09-300001551901FairWave Holdings, LLC Term Loan (SBIC)2025-09-300001551901Exigo, LLC Term Loan2025-09-300001551901Exacta Land Surveyors, LLC Term Loan (SBIC)2025-09-300001551901Exacta Land Surveyors LLC Term Loan Two SBIC2025-09-300001551901Evriholder Acquisition, Inc. Term Loan (SBIC II)2025-09-300001551901evolv Consulting, LLC Term Loan (SBIC)2025-09-300001551901Eskola LLC, Term Loan2025-09-300001551901Eskola LLC, Delayed Draw Term Loan2025-09-300001551901Equine Network, LLC, Term A Loan (SBIC)2025-09-300001551901Equine Network, LLC, Revolver2025-09-300001551901Equine Network, LLC, Delayed Draw Term Loan2025-09-300001551901Equine Network, LLC Term A Loan2025-09-300001551901Environmental Remedies, LLC, Term Loan2025-09-300001551901Elliott Aviation, LLC Term Loan One2025-09-300001551901Elliott Aviation, LLC Revolver C (Priority)2025-09-300001551901Elliott Aviation, LLC Revolver B2025-09-300001551901Elliott Aviation, LLC Revolver A2025-09-300001551901Elder Care Opco LLC Term Loan (SBIC II)2025-09-300001551901DMD Systems Recovery, LLC Term Loan2025-09-300001551901DFO Enterprises, LLC Term Loan2025-09-300001551901Curion Holdings, LLC Term Loan (SBIC II)2025-09-300001551901Curion Holdings, LLC Revolver2025-09-300001551901Craftable Intermediate II Inc, Term Loan (SBIC II)2025-09-300001551901COPILOT Provider Support Services, LLC Term Loan2025-09-300001551901Compost 360 Investments, LLC, Revolver One2025-09-300001551901Compost 360 Acquisition, LLC, Term Loan (SBIC II)2025-09-300001551901Compost 360 Acquisition, LLC, Revolver2025-09-300001551901Compost 360 Acquisition, LLC, Delayed Draw Term Loan2025-09-300001551901Channel Partners Intermediateco, LLC, Term Loan (SBIC), Two2025-09-300001551901Channel Partners Intermediateco, LLC, Term Loan (SBIC), One2025-09-300001551901Channel Partners Intermediateco, LLC, Revolver Two2025-09-300001551901Channel Partners Intermediateco, LLC, Revolver Three2025-09-300001551901Channel Partners Intermediateco, LLC, Revolver One2025-09-300001551901Channel Partners Intermediateco, LLC, Revolver2025-09-300001551901Champion Services Acquireco LLC, Term Loan2025-09-300001551901CF512, Inc. Term Loan (SBIC)2025-09-300001551901CF512, Inc. Revolver2025-09-300001551901CF512, Inc. Delayed Draw Term Loan2025-09-300001551901Cerebro Buyer, LLC Term Loan2025-09-300001551901CEATI International Inc. Term Loan One2025-09-300001551901CEATI International Inc. Term Loan2025-09-300001551901Carolinas Buyer, Inc. Term Loan2025-09-300001551901Camp Profiles LLC Term Loan (SBIC) One2025-09-300001551901Camp Profiles LLC Term Loan (SBIC)2025-09-300001551901Bart And Associates, LLC, Term Loan (SBIC)2025-09-300001551901Bart And Associates Llc, Delayed Draw Term Loan2025-09-300001551901Axis Portable Air, LLC Term Loan (SBIC II)2025-09-300001551901Axis Portable Air, LLC Delayed Draw Term Loan2025-09-300001551901Axis Portable Air LLC, Revolver2025-09-300001551901Axis Portable Air L L C Term Loan (SBIC II) One2025-09-300001551901Arctiq, Inc. Term Loan One2025-09-300001551901Arctiq, Inc. Term Loan2025-09-300001551901Arctiq, Inc. Delayed Draw Term Loan2025-09-300001551901ArborWorks Acquisition LLC Term Loan2025-09-300001551901Amika OpCo LLC, Term Loan, Investment Date, December 5, 20232025-09-300001551901Amika OpCo LLC, Term Loan2025-09-300001551901AMII Acquisition, LLC, Term Loan (SBIC II )2025-09-300001551901American Refrigeration, LLC Term Loan (SBIC)2025-09-300001551901American Refrigeration, LLC Delay Draw Term Loan2025-09-300001551901AGT Robotique Inc Term Loan2025-09-300001551901Advanced Barrier Extrusions, LLC, Revolver (SBIC)2025-09-300001551901Advanced Barrier Extrusions, LLC Term Loan B (SBIC)2025-09-300001551901Advanced Barrier Extrusions, LLC Term Loan A (SBIC)2025-09-300001551901AdCellerant LLC Term A Loan (SBIC II)2025-09-300001551901Ad.Net Acquisition, LLC, Term Loan (SBIC II)2025-09-300001551901Ad.Net Acquisition, LLC Revolver2025-09-3000015519012xLLC, Term Loan, Investment Date, October 31, 20232025-09-3000015519012xLLC, Term Loan, Investment Date, December 02, 20242025-09-3000015519012X LLC, Revolver2025-09-3000015519012X LLC Term Loan2025-09-300001551901Xanitos, Inc. Term Loan (SBIC)2024-12-310001551901Xanitos, Inc. Revolver2024-12-310001551901Xanitos, Inc. Delayed Draw Term Loan2024-12-310001551901WER Holdings, LLC Term Loan (SBIC)2024-12-310001551901WER Holdings, LLC Revolver2024-12-310001551901WER Holdings, LLC Delayed Draw Term Loan2024-12-310001551901Venbrook Buyer, LLC Term Loan B (SBIC)2024-12-310001551901Venbrook Buyer, LLC Term Loan B2024-12-310001551901Venbrook Buyer, LLC Revolver2024-12-310001551901Venbrook Buyer, LLC Delayed Draw Term Loan2024-12-310001551901USDTL AcquisitionCo, Inc. Term Loan (SBIC)2024-12-310001551901USDTL AcquisitionCo, Inc. Revolver2024-12-310001551901Unicat Catalyst Holdings, LLC Term Loan2024-12-310001551901U.S. Expediters, LLC Term Loan2024-12-310001551901TriplePoint Acquisition Holdings LLC Term Loan2024-12-310001551901TradePending OpCo Aggregator, LLC Term Loan (SBIC II) One2024-12-310001551901TradePending OpCo Aggregator, LLC Term Loan (SBIC II)2024-12-310001551901TradePending OpCo Aggregator, LLC Revolver2024-12-310001551901TradePending OpCo Aggregator, LLC Delayed Draw Term Loan2024-12-310001551901Trade Education Acquisition, L.L.C., Revolver2024-12-310001551901Tilley Distribution, Inc. Term Loan2024-12-310001551901Tiger 21, LLC Term Loan2024-12-310001551901The Hardenbergh Group, Inc, Term Loan (SBIC II)2024-12-310001551901The Hardenbergh Group Inc Term Loan (SBIC II) One2024-12-310001551901Teckrez, LLC, Term Loan2024-12-310001551901Teckrez, LLC, Revolver2024-12-310001551901Service Minds Company, LLC, Revolver2024-12-310001551901Service Minds Company, LLC Term Loan2024-12-310001551901Service Minds Company, LLC Delayed Draw Term Loan2024-12-310001551901Service Minds Company Llc Revolver Two2024-12-310001551901Service Minds Company Llc Revolver Three2024-12-310001551901Service Minds Company Llc Revolver One2024-12-310001551901Sales Benchmark Index, LLC Term Loan2024-12-310001551901Said Intermediate, LLC, Term Loan2024-12-310001551901Rogers Mechanical Contractors, LLC Term Loan2024-12-310001551901RIA Advisory Borrower, LLC, Term Loan2024-12-310001551901RIA Advisory Borrower, LLC, Revolver2024-12-310001551901Red's All Natural, LLC Term Loan (SBIC II)2024-12-310001551901Premiere Digital Services, Inc., Term Loan2024-12-310001551901Pearl Media Holdings, LLC Term Loan(SBIC II)2024-12-310001551901PCS Software, Inc.Term Loan (SBIC)2024-12-310001551901PCS Software, Inc.Term Loan2024-12-310001551901PCS Software, Inc.Delayed Draw Term Loan2024-12-310001551901PCS Software, Inc. Revolver2024-12-310001551901Onpoint Industrial Services, LLC, Term Loan (SBIC)2024-12-310001551901NuSource Financial Acquisition, Inc. Term Loan (SBICII)2024-12-310001551901Norplex Micarta Acquisition, Inc., Term Loan (SBIC II)2024-12-310001551901NINJIO, LLC, Term Loan2024-12-310001551901NINJIO, LLC, Revolver2024-12-310001551901NINJIO, LLC Delayed Draw Term Loan2024-12-310001551901Naumann/Hobbs Material Handling Corporation II, Inc. Term Loan (SBIC II)2024-12-310001551901Naumann/Hobbs Material Handling Corporation II, Inc. Term Loan2024-12-310001551901Naumann/Hobbs Material Handling Corporation II, Inc. 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Term Loan Two2024-12-310001551901Green Intermediateco II, Inc. Delayed Draw Term Loan2024-12-310001551901Green Intermediateco II, Inc, Term Loan2024-12-310001551901General LED OPCO, LLC Term Loan2024-12-310001551901Florachem Corporation Term Loan (SBIC)2024-12-310001551901Florachem Corporation Revolver2024-12-310001551901Florachem Corporation Delayed Draw Term Loan2024-12-310001551901FiscalNote Boards LLC Term Loan2024-12-310001551901FairWave Holdings, LLC, Revolver2024-12-310001551901FairWave Holdings, LLC, Delayed Drew Term Loan2024-12-310001551901FairWave Holdings, LLC Term Loan2024-12-310001551901Exigo, LLC Term Loan2024-12-310001551901Exacta Land Surveyors, LLC Term Loan (SBIC)2024-12-310001551901Evriholder Acquisition, Inc. Term Loan (SBIC II)2024-12-310001551901evolv Consulting, LLC Term Loan (SBIC)2024-12-310001551901Eskola LLC, Last Out Term Loan2024-12-310001551901Eskola LLC, Last Out Delayed Draw Term Loan2024-12-310001551901Equine Network, LLC, Term A Loan (SBIC)2024-12-310001551901Equine Network, LLC, Revolver2024-12-310001551901Equine Network, LLC, Delayed Draw Term Loan2024-12-310001551901Elliott Aviation, LLC Term Loan One2024-12-310001551901Elliott Aviation, LLC Revolver B2024-12-310001551901Elliott Aviation, LLC Revolver A2024-12-310001551901DRS Holdings III, Inc. Term Loan2024-12-310001551901Curion Holdings, LLC Term Loan (SBIC II)2024-12-310001551901Curion Holdings, LLC Revolver2024-12-310001551901Craftable Intermediate II Inc, Term Loan (SBIC II)2024-12-310001551901COPILOT Provider Support Services, LLC Term Loan2024-12-310001551901COPILOT Provider Support Services, LLC Revolver2024-12-310001551901Compost 360 Acquisition, LLC, Term Loan (SBIC II)2024-12-310001551901Compost 360 Acquisition, LLC, Revolver2024-12-310001551901Compost 360 Acquisition, LLC, Delayed Draw Term Loan2024-12-310001551901CompleteCase, LLC Term Loan (SBIC II)2024-12-310001551901Channel Partners Intermediateco, LLC, Term Loan (SBIC), Two2024-12-310001551901Channel Partners Intermediateco, LLC, Term Loan (SBIC), One2024-12-310001551901Channel Partners Intermediateco, LLC, Revolver2024-12-310001551901CF512, Inc. Term Loan (SBIC)2024-12-310001551901CF512, Inc. Delayed Draw Term Loan2024-12-310001551901Cerebro Buyer, LLC Term Loan Term Loan2024-12-310001551901CEATI International Inc. Term Loan One2024-12-310001551901CEATI International Inc. Term Loan2024-12-310001551901Carolinas Buyer, Inc. Term Loan2024-12-310001551901Camp Profiles LLC Term Loan (SBIC) One2024-12-310001551901Camp Profiles LLC Term Loan (SBIC)2024-12-310001551901Cafe Valley Inc. 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Term Loan (SBIC)2025-01-012025-09-300001551901Xanitos, Inc. Revolver Two2025-01-012025-09-300001551901Xanitos, Inc. Revolver One2025-01-012025-09-300001551901Xanitos, Inc. Revolver2025-01-012025-09-300001551901Xanitos, Inc. Pure TopCo, LLC Class A Units2025-01-012025-09-300001551901Xanitos, Inc. Delayed Draw Term Loan2025-01-012025-09-300001551901Whisps Holdings LP Class A-1 Units2025-01-012025-09-300001551901Whisps Holdings LP Class A Units2025-01-012025-09-300001551901WER Holdings, LLC Term Loan (SBIC) One2025-01-012025-09-300001551901WER Holdings, LLC Term Loan (SBIC)2025-01-012025-09-300001551901WER Holdings, LLC Revolver Two2025-01-012025-09-300001551901WER Holdings, LLC Revolver Three2025-01-012025-09-300001551901WER Holdings, LLC Revolver One2025-01-012025-09-300001551901WER Holdings, LLC Revolver2025-01-012025-09-300001551901WER Holdings, LLC Delayed Draw Term Loan Two2025-01-012025-09-300001551901WER Holdings, LLC Delayed Draw Term Loan One2025-01-012025-09-300001551901WER Holdings, LLC Delayed Draw Term Loan2025-01-012025-09-300001551901WER Holdings, LLC Blade Landscape Investments, LLC Class A Units2025-01-012025-09-300001551901Venbrook Buyer, LLC Venbrook Holdings, LLC Convertible Term Loan2025-01-012025-09-300001551901Venbrook Buyer, LLC Venbrook Holdings, LLC Common Units2025-01-012025-09-300001551901Venbrook Buyer, LLC Term Loan B (SBIC)2025-01-012025-09-300001551901Venbrook Buyer, LLC Term Loan B2025-01-012025-09-300001551901Venbrook Buyer, LLC Revolver2025-01-012025-09-300001551901Venbrook Buyer, LLC Delayed Draw Term Loan2025-01-012025-09-300001551901USDTL AcquisitionCo, Inc. USDTL Holdings, LLC Preferred Units2025-01-012025-09-300001551901USDTL AcquisitionCo, Inc. Term Loan (SBIC)2025-01-012025-09-300001551901Unicat Catalyst Holdings, LLC Unicat Catalyst, LLC Class A-1 Units2025-01-012025-09-300001551901Unicat Catalyst Holdings, LLC Unicat Catalyst, LLC Class A Units2025-01-012025-09-300001551901Unicat Catalyst Holdings, LLC Term Loan2025-01-012025-09-300001551901U.S. Expediters, LLC Term Loan2025-01-012025-09-300001551901U.S. Expediters, LLC Cathay Hypnos LLC Units2025-01-012025-09-300001551901TriplePoint Acquisition Holdings LLC TriplePoint Holdco LLC Class A Units2025-01-012025-09-300001551901TriplePoint Acquisition Holdings LLC Term Loan, One2025-01-012025-09-300001551901TriplePoint Acquisition Holdings LLC Term Loan2025-01-012025-09-300001551901TradePending OpCo Aggregator, LLC TradePending Holdings, LLC Series A-1 Units2025-01-012025-09-300001551901TradePending OpCo Aggregator, LLC TradePending Holdings, LLC Series A Units2025-01-012025-09-300001551901TradePending OpCo Aggregator, LLC Term Loan (SBIC II) One2025-01-012025-09-300001551901TradePending OpCo Aggregator, LLC Term Loan (SBIC II)2025-01-012025-09-300001551901TradePending OpCo Aggregator, LLC Revolver2025-01-012025-09-300001551901TradePending OpCo Aggregator, LLC Delayed Draw Term Loan2025-01-012025-09-300001551901Tilley Distribution, Inc. Term Loan One2025-01-012025-09-300001551901Tilley Distribution, Inc. Term Loan2025-01-012025-09-300001551901Tilley Distribution, Inc. Revolver2025-01-012025-09-300001551901Tiger 21, LLC Tiger 21 Blocker, Inc. Class A-3 Common Stock2025-01-012025-09-300001551901Tiger 21, LLC Term Loan2025-01-012025-09-300001551901The Millennium Alliance LLC Term Loan (SBIC II)2025-01-012025-09-300001551901The Millennium Alliance LLC BV MA Blocker, Inc. Class A-2 Common Stock2025-01-012025-09-300001551901The Hardenbergh Group, Inc, Term Loan (SBIC II)2025-01-012025-09-300001551901The Hardenbergh Group, Inc, BV HGI Holdings, L.P. Class A Units2025-01-012025-09-300001551901The Hardenbergh Group Inc Term Loan (SBIC II) One2025-01-012025-09-300001551901Teckrez, LLC, Term Loan2025-01-012025-09-300001551901Teckrez, LLC, Revolver One2025-01-012025-09-300001551901Teckrez, LLC, Revolver2025-01-012025-09-300001551901Teckrez, LLC, HH-Teckrez Parent, LP Preferred Units2025-01-012025-09-300001551901TAC LifePort Holdings, LLC, Common Units2025-01-012025-09-300001551901Strategus, LLC Term Loan2025-01-012025-09-300001551901Strategus, LLC CIVC Strategus Blocker, LLC Class A Units2025-01-012025-09-300001551901Solid Surface Holdco, LLC Term Loan2025-01-012025-09-300001551901Solid Surface Holdco, LLC Carolina Topco Holdings, LP Class A-1 Units2025-01-012025-09-300001551901Simpler Trading, LLC, Simpler Ultimate Holdings, LLC Class A Units (SBIC)2025-01-012025-09-300001551901Simpler Trading, LLC Term Loan (SBIC)2025-01-012025-09-300001551901Simpler Trading, LLC Preferred Units (SBIC)2025-01-012025-09-300001551901Service Minds Company, LLC, Revolver2025-01-012025-09-300001551901Service Minds Company, LLC, Priority Revolver Two2025-01-012025-09-300001551901Service Minds Company, LLC, Priority Revolver Three2025-01-012025-09-300001551901Service Minds Company, LLC, Priority Revolver One2025-01-012025-09-300001551901Service Minds Company, LLC, Priority Revolver Four2025-01-012025-09-300001551901Service Minds Company, LLC, Priority Revolver Five2025-01-012025-09-300001551901Service Minds Company, LLC Term Loan2025-01-012025-09-300001551901Service Minds Company, LLC Delayed Draw Term Loan2025-01-012025-09-300001551901Sales Benchmark Index, LLC, SBI Holdings Investments LLC Class A Units2025-01-012025-09-300001551901Sales Benchmark Index, LLC Term Loan2025-01-012025-09-300001551901Sales Benchmark Index, LLC Revolver2025-01-012025-09-300001551901Said Intermediate, LLC, Term Loan2025-01-012025-09-300001551901Said Intermediate, LLC, FCP-Said Holdings, LLC Series A Preferred Shares2025-01-012025-09-300001551901Said Intermediate, LLC, FCP-Said Holdings, LLC Class A Common Shares2025-01-012025-09-300001551901RIA Advisory Borrower, LLC, Term Loan2025-01-012025-09-300001551901RIA Advisory Borrower, LLC, RIA Products Aggregator, LLC Class A Units2025-01-012025-09-300001551901RIA Advisory Borrower, LLC, RIA Advisory Aggregator, LLC ClassA Units2025-01-012025-09-300001551901RIA Advisory Borrower, LLC, Revolver2025-01-012025-09-300001551901Red's All Natural, LLC Term Loan (SBIC II)2025-01-012025-09-300001551901Red's All Natural, LLC Centeotl Co-Invest B, LP Common Units2025-01-012025-09-300001551901Premiere Digital Services, Inc.,Premiere Digital Holdings, Inc. Common Stock2025-01-012025-09-300001551901Premiere Digital Services, Inc., Term Loan2025-01-012025-09-300001551901Plus Delta Buyer LLC, Plus Delta Parent LLC Class A Units2025-01-012025-09-300001551901Plus Delta Buyer LLC Term Loan2025-01-012025-09-300001551901Peltram Group Holdings LLC Class A units2025-01-012025-09-300001551901Pearl Media Holdings, LLC Term Loan(SBIC II)2025-01-012025-09-300001551901PCS Software, Inc.Term Loan (SBIC)2025-01-012025-09-300001551901PCS Software, Inc.Term Loan2025-01-012025-09-300001551901PCS Software, Inc.Delayed Draw Term Loan2025-01-012025-09-300001551901PCS Software, Inc. Revolver2025-01-012025-09-300001551901PCS Software, Inc. PCS Software Parent LLC Class A Common Units2025-01-012025-09-300001551901PCP MT Aggregator Holdings, L.P. Common Units2025-01-012025-09-300001551901Pacific Shoring Holdings, LLC, Term Loan2025-01-012025-09-300001551901Pacific Shoring Holdings, LLC, PSP Ultimate Holdings, LP Class A Units2025-01-012025-09-300001551901Onpoint Industrial Services, LLC, Term Loan (SBIC)2025-01-012025-09-300001551901Onpoint Industrial Services, LLC, Spearhead Topco, LLC Class A Units2025-01-012025-09-300001551901NuSource Financial Acquisition, Inc. Term Loan (SBICII)2025-01-012025-09-300001551901NuSource Financial Acquisition, Inc. Nusourse Holdings Inc. Warrants (SBIC II)2025-01-012025-09-300001551901NS412, LLC Term Loan2025-01-012025-09-300001551901NS412, LLC NS Group Holding Company, LLC Class A Units2025-01-012025-09-300001551901Norplex Micarta Acquisition, Inc., Term Loan (SBIC II)2025-01-012025-09-300001551901Norplex Micarta Acquisition, Inc., Norplex Micarta Parent, LP Preferred Units2025-01-012025-09-300001551901Norplex Micarta Acquisition, Inc. Revolver2025-01-012025-09-300001551901NINJIO, LLC, Term Loan2025-01-012025-09-300001551901NINJIO, LLC, NINJIO Holdings, LLC Units2025-01-012025-09-300001551901NINJIO, LLC Gauge NINJIO Blocker LLC Preferred Units2025-01-012025-09-300001551901NINJIO, LLC Delayed Draw Term Loan2025-01-012025-09-300001551901Naumann/Hobbs Material Handling Corporation II, Inc. Term Loan (SBIC II)2025-01-012025-09-300001551901Naumann/Hobbs Material Handling Corporation II, Inc. Term Loan2025-01-012025-09-300001551901Naumann/Hobbs Material Handling Corporation II, Inc. Revolver2025-01-012025-09-300001551901Naumann Hobbs Holdings, L.P. Class W-2 Units2025-01-012025-09-300001551901Naumann Hobbs Holdings, L.P. Class W-1 Units2025-01-012025-09-300001551901Naumann Hobbs Holdings, L.P. Class B Units2025-01-012025-09-300001551901Naumann Hobbs Holdings, L.P. Class A-2 Units2025-01-012025-09-300001551901Naumann Hobbs Holdings, L.P. Class A-1 Units2025-01-012025-09-300001551901Morgan Electrical Group Intermediate Holdings, Inc. Morgan Electrical Group Holdings, LLC Series A-2 Preferred Units2025-01-012025-09-300001551901Morgan Electrical Group Intermediate Holdings, Inc Term Loan2025-01-012025-09-300001551901Morgan Electrical Group Intermediate Holdings, Inc Delayed Draw Term Loan2025-01-012025-09-300001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l.Shares2025-01-012025-09-300001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class I Shares2025-01-012025-09-300001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class H Shares2025-01-012025-09-300001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class G Shares2025-01-012025-09-300001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class F Shares2025-01-012025-09-300001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class E Shares2025-01-012025-09-300001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class D Shares2025-01-012025-09-300001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class C Shares2025-01-012025-09-300001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class B Shares2025-01-012025-09-300001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class A Shares2025-01-012025-09-300001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class 2 Ordinary Shares2025-01-012025-09-300001551901Monitorus Holding, LLC, Delayed Draw Term Loan2025-01-012025-09-300001551901Monitorus Holding, LLC Term Loan One2025-01-012025-09-300001551901Monitorus Holding, LLC Term Loan2025-01-012025-09-300001551901Monitorus Holding, LLC Sapphire Aggregator S.a r.l. Convertible Bonds Two2025-01-012025-09-300001551901Monitorus Holding, LLC Sapphire Aggregator S.a r.l. Convertible Bonds One2025-01-012025-09-300001551901Monitorus Holding, LLC Revolver Two2025-01-012025-09-300001551901Monitorus Holding, LLC Revolver One2025-01-012025-09-300001551901Monarch Behavioral Therapy, LLC, Term Loan (SBIC)2025-01-012025-09-300001551901Monarch Behavioral Therapy, LLC, Revolver Two2025-01-012025-09-300001551901Monarch Behavioral Therapy, LLC, Revolver Three2025-01-012025-09-300001551901Monarch Behavioral Therapy, LLC, Revolver One2025-01-012025-09-300001551901Monarch Behavioral Therapy, LLC, Revolver Four2025-01-012025-09-300001551901Monarch Behavioral Therapy, LLC, Delayed Draw Term Loan Two2025-01-012025-09-300001551901Monarch Behavioral Therapy, LLC, Delayed Draw Term Loan Three2025-01-012025-09-300001551901Monarch Behavioral Therapy, LLC, Delayed Draw Term Loan One2025-01-012025-09-300001551901Monarch Behavioral Therapy, LLC, BI Investors, LLC Class A Units2025-01-012025-09-300001551901MOM Enterprises, LLC Term Loan (SBIC II)2025-01-012025-09-300001551901MOM Enterprises, LLC MBliss SPC Holdings, LLC Units2025-01-012025-09-300001551901Mobotrex Acquisition, LLC, Term Loan2025-01-012025-09-300001551901Mobotrex Acquisition, LLC, Delayed Draw Term Loan2025-01-012025-09-300001551901Microbe Formulas LLC Term Loan (SBIC II) One2025-01-012025-09-300001551901Microbe Formulas LLC Term Loan (SBIC II)2025-01-012025-09-300001551901Michelli, LLC, Term Loan (SBIC II)2025-01-012025-09-300001551901Michelli, LLC, SP MWM Holdco LLC Class A Units2025-01-012025-09-300001551901Michelli, LLC Delayed Draw Term Loan2025-01-012025-09-300001551901MedLearning Group, LLC, Term Loan Two2025-01-012025-09-300001551901MedLearning Group, LLC, Term Loan Three2025-01-012025-09-300001551901MedLearning Group, LLC, Term Loan One2025-01-012025-09-300001551901MedLearning Group, LLC, Term Loan Four2025-01-012025-09-300001551901MedLearning Group, LLC, Delayed Draw Term Loan2025-01-012025-09-300001551901MBH Management LLC, Term Loan (SBIC II)2025-01-012025-09-300001551901MBH Management LLC, MBH Parent, LLC Common Units2025-01-012025-09-300001551901Madison Logic, Inc. Term Loan One2025-01-012025-09-300001551901Madison Logic, Inc. Term Loan2025-01-012025-09-300001551901Madison Logic Holdings, Inc.BC Partners Glengarry Co-Investment LP Class 1 Interests2025-01-012025-09-300001551901MacKenzie Childs Acquisition Inc, Term Loan2025-01-012025-09-300001551901MacKenzie Childs Acquisition Inc, Revolver Two2025-01-012025-09-300001551901MacKenzie Childs Acquisition Inc, Revolver Three2025-01-012025-09-300001551901MacKenzie Childs Acquisition Inc, Revolver One2025-01-012025-09-300001551901MacKenzie Childs Acquisition Inc, MacKenzie-Childs Investment, LP Partnership Interests2025-01-012025-09-300001551901Luxium Solutions, LLC, Term Loan (SBIC)2025-01-012025-09-300001551901Luxium Solutions, LLC Delayed Draw Term Loan2025-01-012025-09-300001551901Lightning Intermediate II, LLC Term Loan (SBIC)2025-01-012025-09-300001551901Lightning Intermediate II, LLC Gauge Vimergy Coinvest, LLC Units2025-01-012025-09-300001551901Ledge Lounger, Inc. Term Loan A (SBIC)2025-01-012025-09-300001551901Ledge Lounger, Inc. SP L2 Holdings LLC Class C Units (SBIC)2025-01-012025-09-300001551901Ledge Lounger, Inc. SP L2 Holdings LLC Class A Units (SBIC)2025-01-012025-09-300001551901Ledge Lounger Inc. Revolver2025-01-012025-09-300001551901J.R. Watkins, LLC Term Loan (SBIC) One2025-01-012025-09-300001551901J.R. Watkins, LLC Term Loan (SBIC)2025-01-012025-09-300001551901J.R. Watkins, LLC Priority Revolver (SBIC)2025-01-012025-09-300001551901J.R. Watkins Ultimate Holdings, LLC Class A Units (SBIC)2025-01-012025-09-300001551901Invincible Boat Company LLC Warbird Parent Holdco, LLC Class A Units2025-01-012025-09-300001551901Invincible Boat Company LLC Term Loan (SBIC II), Two2025-01-012025-09-300001551901Invincible Boat Company LLC Term Loan (SBIC II), One2025-01-012025-09-300001551901Invincible Boat Company LLC Term Loan2025-01-012025-09-300001551901Invincible Boat Company LLC Revolver2025-01-012025-09-300001551901International Cybernetics Acquisition, LLC, Term Loan2025-01-012025-09-300001551901International Cybernetics Acquisition, LLC, International Cybernetics Holdings, LP Class B Units2025-01-012025-09-300001551901iNovex Information Systems Incorporated, Term Loan SBIC II2025-01-012025-09-300001551901Inoapps Bidco, LLC, Term Loan B2025-01-012025-09-300001551901Inoapps Bidco, LLC, Revolver2025-01-012025-09-300001551901Inoapps Bidco, LLC, Inoapps Holdings, LLC Series A-1 Preferred Units2025-01-012025-09-300001551901Inoapps Bidco, LLC, Delayed Draw Term Loan2025-01-012025-09-300001551901Informativ, LLC, Term Loan (SBIC II), Two2025-01-012025-09-300001551901Informativ, LLC, Term Loan (SBIC II), One2025-01-012025-09-300001551901Informativ, LLC, Credit Connection Holdings, LLC Series A Units2025-01-012025-09-300001551901Infolinks Media Buyco, LLC, Term Loan2025-01-012025-09-300001551901Infolinks Media Buyco, LLC, Delayed Draw Term Loan2025-01-012025-09-300001551901Infolinks Media Buyco, LLC Tower Arch Infolinks Media, LP LP Interests2025-01-012025-09-300001551901Infolinks Media Buyco, LLC Term Loan (SBIC II)2025-01-012025-09-300001551901Impact Home Services LLC, Term Loan (SBIC) Two2025-01-012025-09-300001551901Impact Home Services LLC, Term Loan (SBIC) Three2025-01-012025-09-300001551901Impact Home Services LLC, Term Loan (SBIC) One2025-01-012025-09-300001551901Impact Home Services LLC, Revolver2025-01-012025-09-300001551901Impact Home Services LLC, Impact Holdings Georgia LLC Class A-1 Units2025-01-012025-09-300001551901Impact Home Services LLC, Impact Holdings Georgia LLC Class A Units2025-01-012025-09-300001551901Identity Theft Guard Solutions, Inc. Term Loan2025-01-012025-09-300001551901Identity Theft Guard Solutions, Inc. IDX Parent, LLC Class A-2 Units2025-01-012025-09-300001551901I2P Holdings, LLC Series A Preferred Units2025-01-012025-09-300001551901HV Watterson Holdings, LLC, Delayed Draw Term Loan2025-01-012025-09-300001551901HV Watterson Holdings, LLC Term Loan2025-01-012025-09-300001551901HV Watterson Holdings, LLC Revolver2025-01-012025-09-300001551901HV Watterson Holdings, LLC HV Watterson Parent, LLC Class A Units2025-01-012025-09-300001551901Husk AcquireCo Inc, Term Loan2025-01-012025-09-300001551901Husk AcquireCo Inc, SK Spectra Holdings LP Class A Units2025-01-012025-09-300001551901Heartland Business Systems, LLC, Delayed Draw Term Loan2025-01-012025-09-300001551901Heartland Business Systems, LLC, AMCO HBS Holdings, LP Class A Units2025-01-012025-09-300001551901Heartland Business Systems LLC, Term Loan (SBIC II)2025-01-012025-09-300001551901Guidant Corp Titan Meter Topco LP Class A Units2025-01-012025-09-300001551901Guidant Corp Term Loan2025-01-012025-09-300001551901Guidant Corp Revolver2025-01-012025-09-300001551901GSF Buyer, LLC Term Loan2025-01-012025-09-300001551901GSF Buyer, LLC GSF Group Holdings, L.P. Class A2 Units2025-01-012025-09-300001551901GS HVAM Intermediate, LLC Term Loan2025-01-012025-09-300001551901GS HVAM Intermediate, LLC Revolver2025-01-012025-09-300001551901GS HVAM Intermediate, LLC HV GS Acquisition, LP Class A Interests2025-01-012025-09-300001551901General LED OPCO, LLC Term Loan2025-01-012025-09-300001551901FiscalNote Boards LLC, FCP-Connect Holdings LLC Series A Preferred Shares2025-01-012025-09-300001551901FiscalNote Boards LLC, FCP-Connect Holdings LLC Class A Common Shares2025-01-012025-09-300001551901FiscalNote Boards LLC Term Loan2025-01-012025-09-300001551901FairWave Holdings, LLC, Revolver2025-01-012025-09-300001551901FairWave Holdings, LLC, GRC Java Holdings, LLC Class A Units2025-01-012025-09-300001551901FairWave Holdings, LLC, Delayed Draw Term Loan2025-01-012025-09-300001551901FairWave Holdings, LLC Term Loan (SBIC)2025-01-012025-09-300001551901Exigo, LLC Term Loan2025-01-012025-09-300001551901Exigo, LLC Gauge Exigo Coinvest, LLC Common Units2025-01-012025-09-300001551901Exacta Land Surveyors, LLC Term Loan (SBIC)2025-01-012025-09-300001551901Exacta Land Surveyors, LLC SP ELS Holdings LLC Class A Units2025-01-012025-09-300001551901Exacta Land Surveyors, LLC SP EA Holdings LLC Term Loan2025-01-012025-09-300001551901Exacta Land Surveyors LLC Term Loan Two SBIC2025-01-012025-09-300001551901Evriholder Acquisition, Inc. Term Loan (SBIC II)2025-01-012025-09-300001551901Evriholder Acquisition, Inc. KEJ Holdings LP Class A Units2025-01-012025-09-300001551901evolv Consulting, LLC Term Loan (SBIC)2025-01-012025-09-300001551901evolv Consulting, LLC evolv Holdco, LLC Preferred Units2025-01-012025-09-300001551901Eskola LLC, Term Loan2025-01-012025-09-300001551901Eskola LLC, Eskola Holdings, LLC Class C Units2025-01-012025-09-300001551901Eskola LLC, Eskola Holdings, LLC Class A Units2025-01-012025-09-300001551901Eskola LLC, Delayed Draw Term Loan2025-01-012025-09-300001551901Equine Network, LLC, Term A Loan (SBIC)2025-01-012025-09-300001551901Equine Network, LLC, Revolver2025-01-012025-09-300001551901Equine Network, LLC, Delayed Draw Term Loan2025-01-012025-09-300001551901Equine Network, LLC Term A Loan2025-01-012025-09-300001551901Environmental Remedies, LLC, Term Loan2025-01-012025-09-300001551901Environmental Remedies LLC, ERI Parent Holdings, LLC Class A Units2025-01-012025-09-300001551901Elliott Aviation, LLC Term Loan Two2025-01-012025-09-300001551901Elliott Aviation, LLC Term Loan One2025-01-012025-09-300001551901Elliott Aviation, LLC SP EA Holdings LLC Term Loan2025-01-012025-09-300001551901Elliott Aviation, LLC SP EA Holdings LLC Class A Units2025-01-012025-09-300001551901Elliott Aviation, LLC Revolver C (Priority)2025-01-012025-09-300001551901Elliott Aviation, LLC Revolver B2025-01-012025-09-300001551901Elliott Aviation, LLC Revolver A2025-01-012025-09-300001551901Elder Care Opco LLC Term Loan (SBIC II)2025-01-012025-09-300001551901Elder Care Opco LLC Rallyday Elder Care Co-Investors LP Partnership Interests2025-01-012025-09-300001551901EHI Buyer, Inc, EHI Group Holdings, L.P. Class A Units2025-01-012025-09-300001551901EH Real Estate Services, LLC, Term Loan A52025-01-012025-09-300001551901EH Real Estate Services, LLC, Term Loan A42025-01-012025-09-300001551901EH Real Estate Services, LLC, Revolver2025-01-012025-09-300001551901EH Real Estate Services, LLC, EH Holdco, LLC Common Units2025-01-012025-09-300001551901EH Real Estate Services, LLC EH Holdco, LLC Series A Preferred Units2025-01-012025-09-300001551901DTE Holding Company, LLC Class AA Units2025-01-012025-09-300001551901DTE Holding Company, LLC Class A-2 Units2025-01-012025-09-300001551901DMD Systems Recovery, LLC Term Loan2025-01-012025-09-300001551901DMD Systems Recovery, LLC Phoenix Parent LLC Common Units2025-01-012025-09-300001551901DFO Enterprises, LLC Term Loan2025-01-012025-09-300001551901DFO Enterprises, LLC DFO Ultimate Holding, LP Class A Units2025-01-012025-09-300001551901Curion Holdings, LLC Term Loan (SBIC II)2025-01-012025-09-300001551901Curion Holdings, LLC SP CS Holdings LLC Class A Units2025-01-012025-09-300001551901Curion Holdings, LLC Revolver2025-01-012025-09-300001551901Craftable Intermediate II Inc, Term Loan (SBIC II)2025-01-012025-09-300001551901Craftable Intermediate II Inc, Gauge Craftable LP Partnership Interests2025-01-012025-09-300001551901COPILOT Provider Support Services, LLC Term Loan2025-01-012025-09-300001551901COPILOT Provider Support Services, LLC QHP Project Captivate Blocker, Inc. Common Stock2025-01-012025-09-300001551901Compost 360 Investments, LLC, Revolver One2025-01-012025-09-300001551901Compost 360 Investments, LLC Class A Units2025-01-012025-09-300001551901Compost 360 Acquisition, LLC, Term Loan (SBIC II)2025-01-012025-09-300001551901Compost 360 Acquisition, LLC, Revolver2025-01-012025-09-300001551901Compost 360 Acquisition, LLC, Preferred Units2025-01-012025-09-300001551901Compost 360 Acquisition, LLC, Delayed Draw Term Loan2025-01-012025-09-300001551901CompleteCase, LLC CompleteCase Holdings, Inc. Series A Preferred Stock (SBIC II)2025-01-012025-09-300001551901CompleteCase, LLC CompleteCase Holdings, Inc. Class A Common Stock (SBIC II)2025-01-012025-09-300001551901Complete Case LLC Complete Case Holdings Inc. Series C Preferred Stock2025-01-012025-09-300001551901Complete Case LLC Complete Case Holdings Inc. Class A Common Stock2025-01-012025-09-300001551901Channel Partners Intermediateco, LLC, Term Loan (SBIC), Two2025-01-012025-09-300001551901Channel Partners Intermediateco, LLC, Term Loan (SBIC), One2025-01-012025-09-300001551901Channel Partners Intermediateco, LLC, Revolver Two2025-01-012025-09-300001551901Channel Partners Intermediateco, LLC, Revolver Three2025-01-012025-09-300001551901Channel Partners Intermediateco, LLC, Revolver One2025-01-012025-09-300001551901Channel Partners Intermediateco, LLC, Revolver2025-01-012025-09-300001551901Champion Services Acquireco LLC, Term Loan2025-01-012025-09-300001551901Champion Services Acquireco LLC, Champion Services Holdings LLC Class A-1 Units2025-01-012025-09-300001551901CF512, Inc. Term Loan (SBIC)2025-01-012025-09-300001551901CF512, Inc. StellPen Holdings, LLC Membership Interests2025-01-012025-09-300001551901CF512, Inc. Revolver2025-01-012025-09-300001551901CF512, Inc. Delayed Draw Term Loan2025-01-012025-09-300001551901CF Arch Holdings LLC Class A Units2025-01-012025-09-300001551901Cerebro Buyer, LLC Term Loan2025-01-012025-09-300001551901Cerebro Buyer, LLC Cerebro Holdings Partnership, L.P. Series B Partner Interests2025-01-012025-09-300001551901Cerebro Buyer, LLC Cerebro Holdings Partnership, L.P. Series A Partner Interests2025-01-012025-09-300001551901CEATI International Inc. Term Loan One2025-01-012025-09-300001551901CEATI International Inc. Term Loan2025-01-012025-09-300001551901CEATI International Inc. CEATI Holdings, LP Class A Units2025-01-012025-09-300001551901Carolinas Buyer, Inc. Term Loan2025-01-012025-09-300001551901Carolinas Buyer, Inc. Carolinas Holdings, L.P. Class A Units2025-01-012025-09-300001551901Camp Profiles LLC Term Loan (SBIC) One2025-01-012025-09-300001551901Camp Profiles LLC Term Loan (SBIC)2025-01-012025-09-300001551901Camp Profiles LLC CIVC VI-A 829 Blocker, LLC Units2025-01-012025-09-300001551901Cafe Valley Inc. CF Topco LLC Units2025-01-012025-09-300001551901BL Products Parent, L.P. Class A Units2025-01-012025-09-300001551901Bart And Associates, LLC, Term Loan (SBIC)2025-01-012025-09-300001551901Bart And Associates, LLC, Bamp;A Partners Holding, LLC Series A Preferred Units2025-01-012025-09-300001551901Bart And Associates Llc, Delayed Draw Term Loan2025-01-012025-09-300001551901Baker Manufacturing Company, LLC BSC Blue Water Holdings, LLC Series A Units (SBIC II)2025-01-012025-09-300001551901Axis Portable Air, LLC Term Loan (SBIC II)2025-01-012025-09-300001551901Axis Portable Air, LLC Delayed Draw Term Loan2025-01-012025-09-300001551901Axis Portable Air, LLC Axis Air Parent, LLC Preferred Units2025-01-012025-09-300001551901Axis Portable Air LLC, Revolver2025-01-012025-09-300001551901Axis Portable Air L L C Term Loan (SBIC II) One2025-01-012025-09-300001551901Atmosphere Aggregator Holdings II, L.P. Stratose Aggregator Holdings, L.P. Common Units2025-01-012025-09-300001551901Atmosphere Aggregator Holdings II, L.P. Common Units2025-01-012025-09-300001551901Arctiq, Inc. Term Loan One2025-01-012025-09-300001551901Arctiq, Inc. Term Loan2025-01-012025-09-300001551901Arctiq, Inc. Green Topco Holdings, LLC Class A Units2025-01-012025-09-300001551901Arctiq, Inc. Delayed Draw Term Loan2025-01-012025-09-300001551901ArborWorks, LLC, ArborWorks Intermediate Holdco, LLC Class B-1 Preferred Units2025-01-012025-09-300001551901ArborWorks, LLC, ArborWorks Intermediate Holdco, LLC Class A-1 Preferred Units2025-01-012025-09-300001551901ArborWorks, LLC, ArborWorks Intermediate Holdco, LLC Class A-1 Common Units2025-01-012025-09-300001551901ArborWorks Acquisition LLC Term Loan2025-01-012025-09-300001551901ArborWorks Acquisition LLC Revolver2025-01-012025-09-300001551901APE Holdings, LLC Class A Units2025-01-012025-09-300001551901Anne Lewis Strategies, LLC, SG AL Investment, LLC Common-A Units2025-01-012025-09-300001551901Anne Lewis Strategies, LLC SG AL Investment, LLC Common Units2025-01-012025-09-300001551901Amika OpCo LLC, Term Loan, Investment Date, December 5, 20232025-01-012025-09-300001551901Amika OpCo LLC, Term Loan2025-01-012025-09-300001551901Amika OpCo LLC, Oshun Co-Invest-B LP Partnership Interests2025-01-012025-09-300001551901Amika OpCo LLC, Ishtar Co-Invest-B LP Partnership Interests2025-01-012025-09-300001551901AMII Acquisition, LLC, Term Loan (SBIC II )2025-01-012025-09-300001551901AMII Acquisition, LLC AMII Holdings, LP Class B Units2025-01-012025-09-300001551901American Refrigeration, LLC Term Loan (SBIC)2025-01-012025-09-300001551901American Refrigeration, LLC Delay Draw Term Loan2025-01-012025-09-300001551901American Refrigeration, LLC AR-USA Holdings, LLC Class A Units2025-01-012025-09-300001551901AGT Robotique Inc Term Loan2025-01-012025-09-300001551901Advanced Barrier Extrusions, LLC, Super Priority Term Loan (SBIC) Two2025-01-012025-09-300001551901Advanced Barrier Extrusions, LLC, Super Priority Term Loan (SBIC) One2025-01-012025-09-300001551901Advanced Barrier Extrusions, LLC, Super Priority Term Loan (SBIC)2025-01-012025-09-300001551901Advanced Barrier Extrusions, LLC, Revolver (SBIC)2025-01-012025-09-300001551901Advanced Barrier Extrusions, LLC Term Loan B (SBIC)2025-01-012025-09-300001551901Advanced Barrier Extrusions, LLC Term Loan A (SBIC)2025-01-012025-09-300001551901Advanced Barrier Extrusions, LLC GP ABX Holdings Partnership, L.P. Series B Preferred Interests2025-01-012025-09-300001551901Advanced Barrier Extrusions, LLC GP ABX Holdings Partnership, L.P. Partner Interests2025-01-012025-09-300001551901ADS Group Topco, LLC Class Z Units2025-01-012025-09-300001551901ADS Group Topco, LLC Class Y Units2025-01-012025-09-300001551901ADS Group Topco, LLC Class D Units2025-01-012025-09-300001551901ADS Group Topco, LLC Class B Units2025-01-012025-09-300001551901ADS Group Topco, LLC Class A Units2025-01-012025-09-300001551901ADS Group Opco, LLC, Priority Revolver (SBIC II)2025-01-012025-09-300001551901ADS Group Opco, LLC Term Loan (SBIC II)2025-01-012025-09-300001551901AdCellerant LLC Term A Loan (SBIC II)2025-01-012025-09-300001551901AdCellerant Holdings, LLC Series A Units2025-01-012025-09-300001551901Ad.Net Acquisition, LLC, Term Loan (SBIC II)2025-01-012025-09-300001551901Ad.Net Acquisition, LLC Revolver2025-01-012025-09-300001551901Ad.Net Acquisition, LLC Ad.Net Holdings, Inc. Series A Preferred Stock (SBIC II)2025-01-012025-09-300001551901Ad.Net Acquisition, LLC Ad.Net Holdings, Inc. Series A Common Stock (SBIC II)2025-01-012025-09-3000015519012xLLC, Term Loan, Investment Date, October 31, 20232025-01-012025-09-3000015519012xLLC, Term Loan, Investment Date, December 02, 20242025-01-012025-09-3000015519012X LLC, Revolver2025-01-012025-09-3000015519012X LLC Term Loan2025-01-012025-09-3000015519012X LLC Investors LP Class A Units2025-01-012025-09-300001551901Xanitos, Inc. Term Loan (SBIC)2024-01-012024-12-310001551901Xanitos, Inc. Revolver2024-01-012024-12-310001551901Xanitos, Inc. 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Revolver2024-01-012024-12-310001551901Unicat Catalyst Holdings, LLC Unicat Catalyst, LLC Class A-1 Units2024-01-012024-12-310001551901Unicat Catalyst Holdings, LLC Unicat Catalyst, LLC Class A Units2024-01-012024-12-310001551901Unicat Catalyst Holdings, LLC Term Loan2024-01-012024-12-310001551901U.S. Expediters, LLC Term Loan2024-01-012024-12-310001551901U.S. Expediters, LLC Cathay Hypnos LLC Units2024-01-012024-12-310001551901TriplePoint Acquisition Holdings LLC TriplePoint Holdco LLC Class A Units2024-01-012024-12-310001551901TriplePoint Acquisition Holdings LLC Term Loan2024-01-012024-12-310001551901TradePending OpCo Aggregator, LLC TradePending Holdings, LLC Series A-1 Units2024-01-012024-12-310001551901TradePending OpCo Aggregator, LLC TradePending Holdings, LLC Series A Units2024-01-012024-12-310001551901TradePending OpCo Aggregator, LLC Term Loan (SBIC II) One2024-01-012024-12-310001551901TradePending OpCo Aggregator, LLC Term Loan (SBIC II)2024-01-012024-12-310001551901TradePending OpCo Aggregator, LLC Revolver2024-01-012024-12-310001551901TradePending OpCo Aggregator, LLC Delayed Draw Term Loan2024-01-012024-12-310001551901Trade Education Acquisition, L.L.C., Revolver2024-01-012024-12-310001551901Trade Education Acquisition, L.L.C. Trade Education Holdings, L.L.C. Class A Units2024-01-012024-12-310001551901Trade Education Acquisition, L.L.C. Term Loan (SBIC)2024-01-012024-12-310001551901Tilley Distribution, Inc. Term Loan2024-01-012024-12-310001551901Tiger 21, LLC Tiger 21 Blocker, Inc. Class A-3 Common Stock2024-01-012024-12-310001551901Tiger 21, LLC Term Loan2024-01-012024-12-310001551901The Hardenbergh Group, Inc, Term Loan (SBIC II)2024-01-012024-12-310001551901The Hardenbergh Group, Inc, BV HGI Holdings, L.P. 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Common Stock2024-01-012024-12-310001551901Premiere Digital Services, Inc., Term Loan2024-01-012024-12-310001551901Peltram Group Holdings LLC Class A units2024-01-012024-12-310001551901Pearl Media Holdings, LLC Term Loan(SBIC II)2024-01-012024-12-310001551901PCS Software, Inc.Term Loan (SBIC)2024-01-012024-12-310001551901PCS Software, Inc.Term Loan2024-01-012024-12-310001551901PCS Software, Inc.Delayed Draw Term Loan2024-01-012024-12-310001551901PCS Software, Inc. Revolver2024-01-012024-12-310001551901PCS Software, Inc. PCS Software Parent LLC Class A Common Units2024-01-012024-12-310001551901PCP MT Aggregator Holdings, L.P. Common Units2024-01-012024-12-310001551901Onpoint Industrial Services, LLC, Term Loan (SBIC)2024-01-012024-12-310001551901Onpoint Industrial Services, LLC, Spearhead Topco, LLC Class A Units2024-01-012024-12-310001551901NuSource Financial Acquisition, Inc. Term Loan (SBICII)2024-01-012024-12-310001551901NuSource Financial Acquisition, Inc. Nusourse Holdings Inc. Warrants (SBIC II)2024-01-012024-12-310001551901NS412, LLC Term Loan2024-01-012024-12-310001551901Norplex Micarta Acquisition, Inc., Term Loan (SBIC II)2024-01-012024-12-310001551901Norplex Micarta Acquisition, Inc., Norplex Micarta Parent, LP Preferred Units2024-01-012024-12-310001551901NINJIO, LLC, Term Loan2024-01-012024-12-310001551901NINJIO, LLC, Revolver2024-01-012024-12-310001551901NINJIO, LLC, NINJIO Holdings, LLC Units2024-01-012024-12-310001551901NINJIO, LLC Gauge NINJIO Blocker LLC Preferred Units2024-01-012024-12-310001551901NINJIO, LLC Delayed Draw Term Loan2024-01-012024-12-310001551901Naumann/Hobbs Material Handling Corporation II, Inc. Term Loan (SBIC II)2024-01-012024-12-310001551901Naumann/Hobbs Material Handling Corporation II, Inc. Term Loan2024-01-012024-12-310001551901Naumann/Hobbs Material Handling Corporation II, Inc. Revolver2024-01-012024-12-310001551901Naumann Hobbs Holdings, L.P. Class B Units2024-01-012024-12-310001551901Naumann Hobbs Holdings, L.P. Class A-2 Units2024-01-012024-12-310001551901Naumann Hobbs Holdings, L.P. Class A-1 Units2024-01-012024-12-310001551901Morgan Electrical Group Intermediate Holdings, Inc. Morgan Electrical Group Holdings, LLC Series A-2 Preferred Units2024-01-012024-12-310001551901Morgan Electrical Group Intermediate Holdings, Inc Term Loan2024-01-012024-12-310001551901Morgan Electrical Group Intermediate Holdings, Inc Delayed Draw Term Loan2024-01-012024-12-310001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class I Shares2024-01-012024-12-310001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class H Shares2024-01-012024-12-310001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class G Shares2024-01-012024-12-310001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class F Shares2024-01-012024-12-310001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class E Shares2024-01-012024-12-310001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class D Shares2024-01-012024-12-310001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class C Shares2024-01-012024-12-310001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class B Shares2024-01-012024-12-310001551901Monitorus Holding, LLC, Sapphire Aggregator S.a r.l. Class A Shares2024-01-012024-12-310001551901Monitorus Holding, LLC, Delayed Draw Term Loan2024-01-012024-12-310001551901Monitorus Holding, LLC Term Loan2024-01-012024-12-310001551901Monitorus Holding, LLC Sapphire Aggregator S.a r.l. Convertible Bonds Two2024-01-012024-12-310001551901Monitorus Holding, LLC Sapphire Aggregator S.a r.l. Convertible Bonds One2024-01-012024-12-310001551901Monitorus Holding, LLC Revolver2024-01-012024-12-310001551901Monitorus Holding Llc Sapphire Aggregator S A R L Convertible Bonds Three2024-01-012024-12-310001551901Monarch Behavioral Therapy, LLC Term Loan (SBIC I)2024-01-012024-12-310001551901Monarch Behavioral Therapy, LLC BI Investors, LLC Class A Units2024-01-012024-12-310001551901Monarch Behavioral Therapy Llc Revolver2024-01-012024-12-310001551901Monarch Behavioral Therapy Llc Delay Draw Term Loan2024-01-012024-12-310001551901MOM Enterprises, LLC, Revolver2024-01-012024-12-310001551901MOM Enterprises, LLC Term Loan (SBIC II)2024-01-012024-12-310001551901MOM Enterprises, LLC MBliss SPC Holdings, LLC Units2024-01-012024-12-310001551901Microbe Formulas LLC Term Loan (SBIC II) Two2024-01-012024-12-310001551901Microbe Formulas LLC Term Loan (SBIC II) One2024-01-012024-12-310001551901Michelli, LLC, Term Loan (SBIC II)2024-01-012024-12-310001551901Michelli, LLC, SP MWM Holdco LLC Class A Units2024-01-012024-12-310001551901Michelli, LLC Delayed Draw Term Loan2024-01-012024-12-310001551901MedLearning Group, LLC Term Loan Three March 26, 2024 Two2024-01-012024-12-310001551901MedLearning Group, LLC Term Loan Three March 26, 2024 Three2024-01-012024-12-310001551901MedLearning Group, LLC Term Loan Three March 26, 2024 One2024-01-012024-12-310001551901MedLearning Group, LLC Delayed Draw Term Loan2024-01-012024-12-310001551901MBH Management LLC Term Loan (SBIC II)2024-01-012024-12-310001551901MBH Management LLC MBH Parent, LLC Common Units2024-01-012024-12-310001551901Madison Logic, Inc. Term Loan, One2024-01-012024-12-310001551901Madison Logic, Inc. Term Loan2024-01-012024-12-310001551901Madison Logic Holdings Inc BC Partners Glengarry Co-Investment LP Class 1 Interests2024-01-012024-12-310001551901MacKenzie Childs Acquisition Inc, Term Loan2024-01-012024-12-310001551901MacKenzie Childs Acquisition Inc, MacKenzie-Childs Investment, LP Partnership Interests2024-01-012024-12-310001551901Luxium Solutions, LLC Term Loan (SBIC)2024-01-012024-12-310001551901Luxium Solutions, LLC Delayed Draw Term Loan2024-01-012024-12-310001551901Lightning Intermediate II, LLC Term Loan (SBIC)2024-01-012024-12-310001551901Lightning Intermediate II, LLC Gauge Vimergy Coinvest, LLC Units2024-01-012024-12-310001551901Ledge Lounger, Inc. Term Loan A (SBIC)2024-01-012024-12-310001551901Ledge Lounger, Inc. SP L2 Holdings LLC Class C Units (SBIC)2024-01-012024-12-310001551901Ledge Lounger, Inc. SP L2 Holdings LLC Class A Units (SBIC)2024-01-012024-12-310001551901Ledge Lounger Inc. Revolver2024-01-012024-12-310001551901J.R. Watkins, LLC Term Loan (SBIC)2024-01-012024-12-310001551901J.R. Watkins, LLC Revolver (SBIC)2024-01-012024-12-310001551901J.R. Watkins, LLC J.R. Watkins Holdings, Inc. Class A Preferred Stock2024-01-012024-12-310001551901Invincible Boat Company LLC Warbird Parent Holdco, LLC Class A Units2024-01-012024-12-310001551901Invincible Boat Company LLC Term Loan (SBIC II), Two2024-01-012024-12-310001551901Invincible Boat Company LLC Term Loan (SBIC II), One2024-01-012024-12-310001551901Invincible Boat Company LLC Term Loan2024-01-012024-12-310001551901Invincible Boat Company LLC Revolver2024-01-012024-12-310001551901iNovex Information Systems Incorporated, Term Loan SBIC II2024-01-012024-12-310001551901iNovex Information Systems Incorporated, Revolver2024-01-012024-12-310001551901Inoapps Bidco, LLC, Delayed Draw Term Loan2024-01-012024-12-310001551901Inoapps Bidco, LLC Term Loan B2024-01-012024-12-310001551901Inoapps Bidco, LLC Revolver2024-01-012024-12-310001551901Inoapps Bidco, LLC Inoapps Holdings, LLC Series A-1 Preferred Units2024-01-012024-12-310001551901Informativ, LLC, Term Loan (SBIC II), Two2024-01-012024-12-310001551901Informativ, LLC, Term Loan (SBIC II), One2024-01-012024-12-310001551901Informativ, LLC, Credit Connection Holdings, LLC Series A Units2024-01-012024-12-310001551901Infolinks Media Buyco, LLC, Term Loan2024-01-012024-12-310001551901Infolinks Media Buyco, LLC, Delayed Draw Term Loan2024-01-012024-12-310001551901Infolinks Media Buyco, LLC Tower Arch Infolinks Media, LP LP Interests2024-01-012024-12-310001551901Infolinks Media Buyco, LLC Term Loan (SBIC II)2024-01-012024-12-310001551901Impact Home Services LLC, Term Loan (SBIC) Two2024-01-012024-12-310001551901Impact Home Services LLC, Term Loan (SBIC) Three2024-01-012024-12-310001551901Impact Home Services LLC, Term Loan (SBIC) One2024-01-012024-12-310001551901Impact Home Services LLC, Revolver2024-01-012024-12-310001551901Impact Home Services LLC, Impact Holdings Georgia LLC Class A-1 Units2024-01-012024-12-310001551901Impact Home Services LLC, Impact Holdings Georgia LLC Class A Units2024-01-012024-12-310001551901I2P Holdings, LLC Series A Preferred Units2024-01-012024-12-310001551901HV Watterson Holdings, LLC, Delayed Draw Term Loan2024-01-012024-12-310001551901HV Watterson Holdings, LLC Term Loan2024-01-012024-12-310001551901HV Watterson Holdings, LLC Revolver2024-01-012024-12-310001551901HV Watterson Holdings, LLC HV Watterson Parent, LLC Class A Units2024-01-012024-12-310001551901HV GS Acquisition, LP Class A Interests2024-01-012024-12-310001551901Husk AcquireCo Inc, Term Loan2024-01-012024-12-310001551901Husk AcquireCo Inc, SK Spectra Holdings LP Class A Units2024-01-012024-12-310001551901Heartland Business Systems, LLC, Delayed Draw Term Loan2024-01-012024-12-310001551901Heartland Business Systems, LLC, AMCO HBS Holdings, LP Class A Units2024-01-012024-12-310001551901Heartland Business Systems LLC, Term Loan (SBIC II)2024-01-012024-12-310001551901Guidant Corp Titan Meter Topco LP Class A Units2024-01-012024-12-310001551901Guidant Corp Term Loan2024-01-012024-12-310001551901GS HVAM Intermediate, LLC Term Loan2024-01-012024-12-310001551901GS HVAM Intermediate, LLC Revolver2024-01-012024-12-310001551901Green Intermediateco II, Inc. Term Loan Two2024-01-012024-12-310001551901Green Intermediateco II, Inc. Delayed Draw Term Loan2024-01-012024-12-310001551901Green Intermediateco II, Inc, Term Loan2024-01-012024-12-310001551901Green Intermediateco II, Inc, Green Topco Holdings, LLC Class A Units2024-01-012024-12-310001551901General LED OPCO, LLC Term Loan2024-01-012024-12-310001551901Florachem Corporation Term Loan (SBIC)2024-01-012024-12-310001551901Florachem Corporation SK FC Holdings, L.P. Class A Units2024-01-012024-12-310001551901Florachem Corporation Revolver2024-01-012024-12-310001551901Florachem Corporation Delayed Draw Term Loan2024-01-012024-12-310001551901FiscalNote Boards LLC, FCP-Connect Holdings LLC Series A Preferred Shares2024-01-012024-12-310001551901FiscalNote Boards LLC, FCP-Connect Holdings LLC Class A Common Shares2024-01-012024-12-310001551901FiscalNote Boards LLC Term Loan2024-01-012024-12-310001551901FairWave Holdings, LLC, Revolver2024-01-012024-12-310001551901FairWave Holdings, LLC, GRC Java Holdings, LLC Class A Units2024-01-012024-12-310001551901FairWave Holdings, LLC, Delayed Drew Term Loan2024-01-012024-12-310001551901FairWave Holdings, LLC Term Loan2024-01-012024-12-310001551901Exigo, LLC Term Loan2024-01-012024-12-310001551901Exigo, LLC Gauge Exigo Coinvest, LLC Common Units2024-01-012024-12-310001551901Exacta Land Surveyors, LLC Term Loan (SBIC)2024-01-012024-12-310001551901Exacta Land Surveyors, LLC SP ELS Holdings LLC Class A Units2024-01-012024-12-310001551901Exacta Land Surveyors LLC Term Loan Two SBIC2024-01-012024-12-310001551901Exacta Land Surveyors LLC Term Loan2024-01-012024-12-310001551901Evriholder Acquisition, Inc. Term Loan (SBIC II)2024-01-012024-12-310001551901Evriholder Acquisition, Inc. KEJ Holdings LP Class A Units2024-01-012024-12-310001551901evolv Consulting, LLC Term Loan (SBIC)2024-01-012024-12-310001551901evolv Consulting, LLC evolv Holdco, LLC Preferred Units2024-01-012024-12-310001551901Eskola LLC, Last Out Term Loan2024-01-012024-12-310001551901Eskola LLC, Last Out Delayed Draw Term Loan2024-01-012024-12-310001551901Eskola LLC, Eskola Holdings, LLC Class A Units2024-01-012024-12-310001551901Equine Network, LLC, Term A Loan (SBIC)2024-01-012024-12-310001551901Equine Network, LLC, Revolver2024-01-012024-12-310001551901Equine Network, LLC, Delayed Draw Term Loan2024-01-012024-12-310001551901EOS Fitness Holdings, LLC Class B Common Units2024-01-012024-12-310001551901EOS Fitness Holdings, LLC Class A Preferred Units2024-01-012024-12-310001551901Elliott Aviation, LLC Term Loan One2024-01-012024-12-310001551901Elliott Aviation, LLC Term Loan2024-01-012024-12-310001551901Elliott Aviation, LLC SP EA Holdings LLC Class A Units2024-01-012024-12-310001551901Elliott Aviation, LLC Revolver B2024-01-012024-12-310001551901Elliott Aviation, LLC Revolver A2024-01-012024-12-310001551901EHI Buyer, Inc, EHI Group Holdings, L.P. Class A Units2024-01-012024-12-310001551901EH Real Estate Services, LLC, Term Loan A52024-01-012024-12-310001551901EH Real Estate Services, LLC, Revolver2024-01-012024-12-310001551901EH Real Estate Services, LLC EH Holdco, LLC Series A Preferred Units2024-01-012024-12-310001551901DTE Holding Company, LLC Class AA Units2024-01-012024-12-310001551901DTE Holding Company, LLC Class A-2 Units2024-01-012024-12-310001551901DRS Holdings III, Inc. Term Loan2024-01-012024-12-310001551901Curion Holdings, LLC Term Loan (SBIC II)2024-01-012024-12-310001551901Curion Holdings, LLC SP CS Holdings LLC Class A Units2024-01-012024-12-310001551901Curion Holdings, LLC Revolver2024-01-012024-12-310001551901Craftable Intermediate II Inc, Term Loan (SBIC II)2024-01-012024-12-310001551901Craftable Intermediate II Inc, Gauge Craftable LP Partnership Interests2024-01-012024-12-310001551901COPILOT Provider Support Services, LLC Term Loan2024-01-012024-12-310001551901COPILOT Provider Support Services, LLC Revolver2024-01-012024-12-310001551901COPILOT Provider Support Services, LLC QHP Project Captivate Blocker, Inc. Common Stock2024-01-012024-12-310001551901Compost 360 Investments, LLC Class A Units2024-01-012024-12-310001551901Compost 360 Acquisition, LLC, Term Loan (SBIC II)2024-01-012024-12-310001551901Compost 360 Acquisition, LLC, Revolver2024-01-012024-12-310001551901Compost 360 Acquisition, LLC, Delayed Draw Term Loan2024-01-012024-12-310001551901CompleteCase, LLC Term Loan (SBIC II)2024-01-012024-12-310001551901CompleteCase, LLC CompleteCase Holdings, Inc. Series A Preferred Stock (SBIC II)2024-01-012024-12-310001551901CompleteCase, LLC CompleteCase Holdings, Inc. Class A Common Stock (SBIC II)2024-01-012024-12-310001551901Complete Case LLC Complete Case Holdings Inc. Series C Preferred Stock2024-01-012024-12-310001551901Complete Case LLC Complete Case Holdings Inc. 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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
(Mark One)
☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended September 30, 2025
OR
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
COMMISSION FILE NUMBER: 814-00971
STELLUS CAPITAL INVESTMENT CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
| | |
Maryland | | 46-0937320 |
(State or Other Jurisdiction of Incorporation or Organization) | | (I.R.S. Employer Identification No.) |
4400 Post Oak Parkway, Suite 2200
Houston, Texas 77027
(Address of Principal Executive Offices) (Zip Code)
(713) 292-5400
(Registrant’s Telephone Number, Including Area Code)
Securities registered pursuant to Section 12(b) of the Act:
| | | | |
Title of each class | | Trading Symbol(s) | | Name of each exchange on which registered |
Common Stock, par value $0.001 per share | | SCM | | New York Stock Exchange |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.:
| | | | |
Large accelerated filer | ☐ | | Accelerated filer | ☒ |
Non-accelerated filer | ☐ | | Smaller reporting company | ☐ |
Emerging growth company | ☐ | | | |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
The number of shares of the issuer’s Common Stock, par value $0.001 per share, outstanding as of November 10, 2025 was 28,947,254.
STELLUS CAPITAL INVESTMENT CORPORATION
TABLE OF CONTENTS
| | | | |
PART I. FINANCIAL INFORMATION | | |
Item 1. | | Financial Statements | | 1 |
| | Consolidated Statements of Assets and Liabilities as of September 30, 2025 (unaudited) and December 31, 2024 | | 1 |
| | Consolidated Statements of Operations for the three and nine-month periods ended September 30, 2025 and 2024 (unaudited) | | 2 |
| | Consolidated Statements of Changes in Net Assets for the three and nine-month periods ended September 30, 2025 and 2024 (unaudited) | | 3 |
| | Consolidated Statements of Cash Flows for the nine-month periods ended September 30, 2025 and 2024 (unaudited) | | 4 |
| | Consolidated Schedules of Investments as of September 30, 2025 (unaudited) and December 31, 2024 | | 5 |
| | Notes to Unaudited Financial Statements | | 35 |
Item 2. | | Management’s Discussion and Analysis of Financial Condition and Results of Operations | | 67 |
Item 3. | | Quantitative and Qualitative Disclosures About Market Risk | | 86 |
Item 4. | | Controls and Procedures | | 87 |
PART II. OTHER INFORMATION | | |
Item 1. | | Legal Proceedings | | 87 |
Item 1A. | | Risk Factors | | 87 |
Item 2. | | Unregistered Sales of Equity Securities and Use of Proceeds | | 87 |
Item 3. | | Defaults Upon Senior Securities | | 87 |
Item 4. | | Mine Safety Disclosures | | 88 |
Item 5. | | Other Information | | 88 |
Item 6. | | Exhibits | | 89 |
SIGNATURES | | 90 |
PART I — FINANCIAL INFORMATION
STELLUS CAPITAL INVESTMENT CORPORATION
CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES
Item 1. Financial Statements
| | | | | | | |
| | September 30, 2025 | | | |
| | (unaudited) | | December 31, 2024 | |
ASSETS | | | | | | | |
Controlled investments at fair value (amortized cost of $33,202,703 and $17,934,808, respectively) | | $ | 13,568,095 | | $ | 7,652,436 | |
Non-controlled, non-affiliated investments, at fair value (amortized cost of $986,914,541 and $943,853,898, respectively) | | | 996,641,541 | | | 945,845,252 | |
Cash and cash equivalents | | | 9,024,020 | | | 20,058,594 | |
Receivable for sales and repayments of investments | | | 437,552 | | | 335,689 | |
Interest receivable | | | 7,047,686 | | | 4,947,765 | |
Income tax receivable | | | 1,522,198 | | | 1,301,965 | |
Other receivables | | | 99,111 | | | 87,995 | |
Related party receivable | | | 22,500 | | | 3,687 | |
Prepaid expenses | | | 281,634 | | | 666,866 | |
Total Assets | | $ | 1,028,644,337 | | $ | 980,900,249 | |
LIABILITIES | | | | | | | |
Notes Payable | | $ | 172,522,707 | | $ | 99,444,355 | |
Credit Facility payable | | | 163,995,602 | | | 172,314,315 | |
SBA-guaranteed debentures | | | 295,805,634 | | | 321,251,939 | |
Dividends payable | | | 3,858,669 | | | 3,663,233 | |
Management fees payable | | | 4,401,305 | | | 4,034,109 | |
Income incentive fees payable | | | 2,642,033 | | | 3,109,560 | |
Interest payable | | | 5,912,375 | | | 5,281,343 | |
Related party payable | | | 136,535 | | | — | |
Unearned revenue | | | 640,637 | | | 548,626 | |
Administrative services payable | | | 507,139 | | | 393,513 | |
Other accrued expenses and liabilities | | | 491,374 | | | 937,316 | |
Total Liabilities | | $ | 650,914,010 | | $ | 610,978,309 | |
Commitments and contingencies (Note 7) | | | | | | | |
Net Assets | | $ | 377,730,327 | | $ | 369,921,940 | |
NET ASSETS | | | | | | | |
Common stock, par value $0.001 per share (100,000,000 shares authorized; 28,947,254 and 27,481,118 shares issued and outstanding, respectively) | | $ | 28,947 | | $ | 27,481 | |
Paid-in capital | | | 399,410,630 | | | 379,549,272 | |
Total distributable loss | | | (21,709,250) | | | (9,654,813) | |
Net Assets | | $ | 377,730,327 | | $ | 369,921,940 | |
Total Liabilities and Net Assets | | $ | 1,028,644,337 | | $ | 980,900,249 | |
Net Asset Value Per Share | | $ | 13.05 | | $ | 13.46 | |
STELLUS CAPITAL INVESTMENT CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)
| | | | | | | | | | | | | |
| | For the three months ended | | For the nine months ended | |
| | September 30, 2025 | | September 30, 2024 | | September 30, 2025 | | September 30, 2024 | |
INVESTMENT INCOME | | | | | | | | | | | | | |
From controlled investments: | | | | | | | | | | | | | |
Interest income | | $ | — | | $ | — | | $ | — | | $ | 81,636 | |
From non-controlled, non-affiliated investments | | | | | | | | | | | | | |
Interest income | | | 23,634,587 | | | 24,403,375 | | | 69,923,357 | | | 72,969,302 | |
Payment-in-kind interest income | | | 1,378,166 | | | 934,986 | | | 3,870,717 | | | 2,490,854 | |
Other income | | | 1,262,956 | | | 1,159,898 | | | 3,129,895 | | | 3,579,415 | |
Total Investment Income | | $ | 26,275,709 | | $ | 26,498,259 | | $ | 76,923,969 | | $ | 79,121,207 | |
OPERATING EXPENSES | | | | | | | | | | | | | |
Management fees | | $ | 4,401,305 | | $ | 3,959,554 | | $ | 12,735,472 | | $ | 11,664,020 | |
Valuation fees | | | 172,364 | | | 151,535 | | | 368,760 | | | 343,753 | |
Administrative services expenses | | | 592,409 | | | 469,274 | | | 1,515,991 | | | 1,441,436 | |
Income incentive fees | | | 2,166,047 | | | 2,564,922 | | | 6,460,613 | | | 7,616,562 | |
Professional fees | | | 395,098 | | | 312,034 | | | 1,125,937 | | | 847,866 | |
Directors’ fees | | | 93,250 | | | 93,250 | | | 297,750 | | | 315,750 | |
Insurance expense | | | 99,248 | | | 126,362 | | | 295,006 | | | 376,840 | |
Interest expense and other fees | | | 8,949,075 | | | 7,956,403 | | | 25,892,109 | | | 23,840,473 | |
Income tax expense | | | 515,686 | | | 360,192 | | | 1,444,184 | | | 1,304,948 | |
Other general and administrative expenses | | | 227,037 | | | 245,043 | | | 945,690 | | | 908,185 | |
Total Operating Expenses | | $ | 17,611,519 | | $ | 16,238,569 | | $ | 51,081,512 | | $ | 48,659,833 | |
Income incentive fee waiver | | | (471,251) | | | — | | | (2,643,020) | | | (1,826,893) | |
Total Operating Expenses, net of fee waivers | | $ | 17,140,268 | | $ | 16,238,569 | | $ | 48,438,492 | | $ | 46,832,940 | |
Net Investment Income | | $ | 9,135,441 | | $ | 10,259,690 | | $ | 28,485,477 | | $ | 32,288,267 | |
Net realized loss on controlled investments | | $ | — | | $ | — | | $ | (1,132,576) | | $ | — | |
Net realized gain (loss) on non-controlled, non-affiliated investments | | | 2,867,155 | | | (3,297,615) | | | (2,827,517) | | | (21,689,864) | |
Net realized loss on foreign currency translations | | | (9,422) | | | (22,095) | | | (59,080) | | | (76,990) | |
Loss on debt extinguishment | | | (164,762) | | | — | | | (164,762) | | | — | |
Net change in unrealized appreciation on controlled investments | | | 51,367 | | | 248,746 | | | 1,397,134 | | | 923,505 | |
Net change in unrealized (depreciation) appreciation on non-controlled, non-affiliated investments | | | (5,187,426) | | | 8,255,272 | | | (3,906,233) | | | 25,512,422 | |
Net change in unrealized (depreciation) appreciation on foreign currency translations | | | (325) | | | 14,588 | | | 38,540 | | | 5,099 | |
Benefit for taxes on net unrealized depreciation on investments | | | — | | | — | | | — | | | 188,893 | |
Benefit for taxes on net realized loss on investments | | | — | | | 2,221 | | | — | | | 2,221 | |
Net Increase in Net Assets Resulting from Operations | | $ | 6,692,028 | | $ | 15,460,807 | | $ | 21,830,983 | | $ | 37,153,553 | |
Net Investment Income Per Share—basic and diluted | | $ | 0.32 | | $ | 0.39 | | $ | 1.01 | | $ | 1.29 | |
Net Increase in Net Assets Resulting from Operations Per Share – basic and diluted | | $ | 0.23 | | $ | 0.59 | | $ | 0.78 | | $ | 1.48 | |
Weighted Average Shares of Common Stock Outstanding—basic and diluted | | | 28,480,472 | | | 26,326,426 | | | 28,168,527 | | | 25,066,626 | |
Distributions Per Share—basic and diluted | | $ | 0.40 | | $ | 0.40 | | $ | 1.20 | | $ | 1.21 | |
STELLUS CAPITAL INVESTMENT CORPORATION
CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS (unaudited)
| | | | | | | | | | | | | | |
| | Common Stock | | | | | Total | | | |
| | Number | | Par | | Paid-in | | distributable | | | |
| | of shares | | value | | capital | | (loss) | | Net Assets |
Balances at December 31, 2023 | | 24,125,642 | | $ | 24,125 | | $ | 335,918,984 | | $ | (16,003,321) | | $ | 319,939,788 |
Net investment income | | — | | | — | | | — | | | 10,235,916 | | | 10,235,916 |
Net realized loss on investments | | — | | | — | | | — | | | (20,384,731) | | | (20,384,731) |
Net realized loss on foreign currency translations | | — | | | — | | | — | | | (25,106) | | | (25,106) |
Net change in unrealized appreciation on investments | | — | | | — | | | — | | | 23,518,590 | | | 23,518,590 |
Net change in unrealized depreciation on foreign currency translations | | — | | | — | | | — | | | (3,602) | | | (3,602) |
Provision for taxes on unrealized appreciation on investments | | — | | | — | | | — | | | (192,607) | | | (192,607) |
Distributions from net investment income | | — | | | — | | | — | | | (9,647,844) | | | (9,647,844) |
Balances at March 31, 2024 | | 24,125,642 | | $ | 24,125 | | $ | 335,918,984 | | $ | (12,502,705) | | $ | 323,440,404 |
Net investment income | | — | | | — | | | — | | | 11,792,661 | | | 11,792,661 |
Net realized gain on investments | | — | | | — | | | — | | | 1,992,482 | | | 1,992,482 |
Net realized loss on foreign currency translations | | — | | | — | | | — | | | (29,789) | | | (29,789) |
Net change in unrealized depreciation on investments | | — | | | — | | | — | | | (5,586,681) | | | (5,586,681) |
Net change in unrealized depreciation on foreign currency translations | | — | | | — | | | — | | | (5,887) | | | (5,887) |
Benefit for taxes on unrealized depreciation on investments | | — | | | — | | | — | | | 381,500 | | | 381,500 |
Distributions from net investment income | | — | | | — | | | — | | | (10,049,073) | | | (10,049,073) |
Issuance of common stock, net of offering costs(1) | | 1,855,356 | | | 1,856 | | | 25,248,020 | | | — | | | 25,249,876 |
Balances at June 30, 2024 | | 25,980,998 | | $ | 25,981 | | $ | 361,167,004 | | $ | (14,007,492) | | $ | 347,185,493 |
Net investment income | | — | | | — | | | — | | | 10,259,690 | | | 10,259,690 |
Net realized loss on investments | | — | | | — | | | — | | | (3,297,615) | | | (3,297,615) |
Net realized loss on foreign currency translation | | — | | | — | | | — | | | (22,095) | | | (22,095) |
Net change in unrealized appreciation on investments | | — | | | — | | | — | | | 8,504,018 | | | 8,504,018 |
Net change in unrealized appreciation on foreign currency translations | | — | | | — | | | — | | | 14,588 | | | 14,588 |
Benefit for taxes on net realized loss on investments | | — | | | — | | | — | | | 2,221 | | | 2,221 |
Distributions from net investment income | | — | | | — | | | — | | | (10,625,512) | | | (10,625,512) |
Issuance of common stock, net of offering costs(1) | | 1,058,366 | | | 1,058 | | | 14,263,441 | | | — | | | 14,264,499 |
Balances at September 30, 2024 | | 27,039,364 | | $ | 27,039 | | $ | 375,430,445 | | $ | (9,172,197) | | $ | 366,285,287 |
| | | | | | | | | | | | | | |
Balances at December 31, 2024 | | 27,481,118 | | $ | 27,481 | | $ | 379,549,272 | | $ | (9,654,813) | | $ | 369,921,940 |
Net investment income | | — | | | — | | | — | | | 9,788,809 | | | 9,788,809 |
Net realized loss on investments | | — | | | — | | | — | | | (5,967,221) | | | (5,967,221) |
Net realized loss on foreign currency translations | | — | | | — | | | — | | | (29,655) | | | (29,655) |
Net change in unrealized appreciation on investments | | — | | | — | | | — | | | 1,193,293 | | | 1,193,293 |
Net change in unrealized depreciation on foreign currency translations | | — | | | — | | | — | | | 8,319 | | | 8,319 |
Distributions from net investment income | | — | | | — | | | — | | | (11,087,389) | | | (11,087,389) |
Issuance of common stock, net of offering costs(1) | | 656,085 | | | 656 | | | 8,937,430 | | | — | | | 8,938,086 |
Balances at March 31, 2025 | | 28,137,203 | | $ | 28,137 | | $ | 388,486,702 | | $ | (15,748,657) | | $ | 372,766,182 |
Net investment income | | — | | | — | | | — | | | 9,561,227 | | | 9,561,227 |
Net realized loss on investments | | — | | | — | | | — | | | (860,027) | | | (860,027) |
Net realized loss on foreign currency translations | | — | | | — | | | — | | | (20,003) | | | (20,003) |
Net change in unrealized appreciation on investments | | — | | | — | | | — | | | 1,433,667 | | | 1,433,667 |
Net change in unrealized appreciation on foreign currency translations | | — | | | — | | | — | | | 30,546 | | | 30,546 |
Distributions from net investment income | | — | | | — | | | — | | | (11,363,618) | | | (11,363,618) |
Issuance of common stock, net of offering costs(1) | | 278,945 | | | 279 | | | 3,822,637 | | | — | | | 3,822,916 |
Balances at June 30, 2025 | | 28,416,148 | | $ | 28,416 | | $ | 392,309,339 | | $ | (16,966,865) | | $ | 375,370,890 |
Net investment income | | — | | | — | | | — | | | 9,135,441 | | | 9,135,441 |
Net realized gain on investments | | — | | | — | | | — | | | 2,867,155 | | | 2,867,155 |
Net realized loss on foreign currency translations | | — | | | — | | | — | | | (9,422) | | | (9,422) |
Loss on debt extinguishment | | — | | | — | | | — | | | (164,762) | | | (164,762) |
Net change in unrealized depreciation on investments | | — | | | — | | | — | | | (5,136,059) | | | (5,136,059) |
Net change in unrealized depreciation on foreign currency translations | | — | | | — | | | — | | | (325) | | | (325) |
Distributions from net investment income | | — | | | — | | | — | | | (11,434,413) | | | (11,434,413) |
Issuance of common stock, net of offering costs(1) | | 531,106 | | | 531 | | | 7,101,291 | | | — | | | 7,101,822 |
Balances at September 30, 2025 | | 28,947,254 | | $ | 28,947 | | $ | 399,410,630 | | $ | (21,709,250) | | $ | 377,730,327 |
(1) See Note 4 to the consolidated financial statements contained herein for more information on offering costs.
STELLUS CAPITAL INVESTMENT CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)
| | | | | | |
| | For the nine months ended |
| | September 30, 2025 | | September 30, 2024 |
Cash Flows from Operating Activities | | | | | | |
Net increase in net assets resulting from operations | | $ | 21,830,983 | | $ | 37,153,553 |
Adjustments to reconcile net increase in net assets from operations to net cash used in operating activities: | | | | | | |
Purchases of investments | | | (141,983,167) | | | (112,624,812) |
Proceeds from sales and repayments of investments | | | 85,635,632 | | | 87,308,914 |
Net change in unrealized depreciation (appreciation) on investments | | | 2,509,099 | | | (26,435,927) |
Net change in unrealized appreciation on foreign currency translations | | | (37,811) | | | (5,099) |
Increase in investments due to PIK | | | (3,870,717) | | | (2,490,856) |
Amortization of premium and accretion of discount, net | | | (2,172,972) | | | (2,045,992) |
Deferred tax benefit | | | — | | | (188,893) |
Amortization of loan structure fees | | | 954,033 | | | 825,891 |
Amortization of deferred financing costs | | | 447,751 | | | 335,345 |
Amortization of discount on Notes Payable | | | 63,395 | | | — |
Amortization of loan fees on SBA-guaranteed debentures | | | 553,695 | | | 784,763 |
Net realized loss on investments | | | 3,960,093 | | | 21,689,864 |
Loss on debt extinguishment | | | 164,762 | | | — |
Changes in other assets and liabilities | | | | | | |
Increase in interest receivable | | | (2,099,921) | | | (1,389,856) |
Increase in income tax receivable | | | (220,233) | | | (228,663) |
Increase in other receivables | | | (11,116) | | | (25,000) |
Increase in related party receivables | | | (18,813) | | | — |
Decrease in prepaid expenses | | | 385,232 | | | 349,950 |
Increase in management fees payable | | | 367,196 | | | 1,041,018 |
(Decrease) increase in income incentive fees payable | | | (467,527) | | | 269,396 |
Increase (decrease) in administrative services payable | | | 113,626 | | | (1,118) |
Increase (decrease) in interest payable | | | 631,032 | | | (3,988,133) |
Increase in related party payable | | | 136,535 | | | 1,898,854 |
Increase in unearned revenue | | | 92,011 | | | 152,623 |
(Decrease) increase in other accrued expenses and liabilities | | | (445,942) | | | 718,139 |
Net Cash (Used) Provided in Operating Activities | | $ | (33,483,144) | | $ | 3,103,961 |
Cash Flows from Financing Activities | | | | | | |
Proceeds from the issuance of common stock | | $ | 20,588,960 | | $ | 40,370,901 |
Sales load for common stock issued | | | (308,998) | | | (606,145) |
Offering costs paid for common stock issued | | | (417,138) | | | (243,067) |
Stockholder distributions paid | | | (33,689,984) | | | (26,718,082) |
Proceeds from issuance of Notes Payable | | | 125,000,000 | | | — |
Repayment of Notes Payable | | | (50,000,000) | | | — |
Premium from issuance of Notes Payable | | | 648,000 | | | — |
Discount from issuance of Notes Payable | | | (770,250) | | | — |
Financing costs paid on Notes Payable | | | (2,475,306) | | | — |
Repayments of SBA-guaranteed debentures | | | (26,000,000) | | | — |
Financing costs paid on Credit Facility | | | (1,525,014) | | | (101,348) |
Borrowings under Credit Facility | | | 198,900,000 | | | 122,400,000 |
Repayments of Credit Facility | | | (207,501,700) | | | (125,751,700) |
Net Cash Provided by Financing Activities | | $ | 22,448,570 | | $ | 9,350,559 |
Net (Decrease) Increase in Cash and Cash Equivalents | | $ | (11,034,574) | | $ | 12,454,520 |
Cash and Cash Equivalents Balance at Beginning of Period | | $ | 20,058,594 | | $ | 26,125,741 |
Cash and Cash Equivalents Balance at End of Period | | $ | 9,024,020 | | $ | 38,580,261 |
Supplemental and Non-Cash Activities | | | | | | |
Cash paid for interest expense | | $ | 24,940,287 | | $ | 25,882,607 |
Income and excise tax paid | | | 1,664,417 | | | 1,533,611 |
Exchange of investments | | | 1,663,301 | | | 8,256,411 |
Stellus Capital Investment Corporation
Consolidated Schedule of Investments
September 30, 2025
(unaudited)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | Principal | | | | | | | | % of | |
| | | | | | | | | | | | | | | Investment | | | | Headquarters/ | | Amount/ | | Amortized | | Fair | | Net | |
Investments | | Footnotes | | Security(2) | | Coupon | | Floor | | Cash | | PIK(8) | | Date | | Maturity | | Industry | | Shares(3) | | Cost | | Value(1) | | Assets | |
Control investments (23) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
EH Real Estate Services, LLC | | | | | | | | | | | | | | | | | | | Skokie, IL | | | | | | | | | | | | |
Term Loan A-1 | | (16) | | First Lien | | | 15.00 | % | - | % | - | % | - | % | 9/3/2021 | | 9/3/2026 | | FIRE: Real Estate | | $ | 1,882,226 | | | 1,882,226 | | | 178,811 | | 0.05 | % |
Term Loan A-2 | | (16) | | First Lien | | | 15.00 | % | - | % | - | % | - | % | 4/3/2023 | | 9/3/2026 | | | | | 650,943 | | | 650,943 | | | 61,840 | | 0.02 | % |
Term Loan A-3 | | (16) | | First Lien | | | 15.00 | % | - | % | - | % | - | % | 6/7/2023 | | 9/3/2026 | | | | | 230,678 | | | 230,678 | | | 21,914 | | 0.01 | % |
Term Loan A-4 | | (16) | | First Lien | | | 15.00 | % | - | % | - | % | - | % | 7/12/2023 | | 9/3/2026 | | | | | 1,505,537 | | | 1,505,537 | | | 1,505,537 | | 0.40 | % |
Term Loan A-5 | | (16) | | First Lien | | | 15.00 | % | - | % | - | % | - | % | 1/8/2024 | | 9/3/2026 | | | | | 5,880,756 | | | 5,880,756 | | | 5,880,756 | | 1.56 | % |
Revolver | | (16)(22) | | First Lien | | | 15.00 | % | - | % | - | % | - | % | 10/3/2023 | | 9/3/2026 | | | | | 63,597 | | | 63,597 | | | 63,597 | | 0.02 | % |
EH Holdco, LLC Common Units | | | | Equity | | | | | | | | | | | 10/3/2023 | | | | | | | 15,356 | | | 3 | | | - | | 0.00 | % |
EH Holdco, LLC Series A Preferred Units | | | | Equity | | | | | | | | | | | 9/3/2021 | | | | | | | 7,892 | | | 7,891,642 | | | - | | 0.00 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 18,105,382 | | $ | 7,712,455 | | 2.06 | % |
J.R. Watkins, LLC | | | | | | | | | | | | | | | | | | | San Francisco | | | | | | | | | | | | |
Term Loan (SBIC) | | (4)(19) | | First Lien | | | 4.09 | % | | | - | % | | | 12/22/2017 | | 12/31/2026 | | Consumer Goods: Non-Durable | | | 10,034,958 | | | 10,034,958 | | | 2,107,341 | | 0.56 | % |
Term Loan (SBIC) | | (4)(19) | | First Lien | | | 5.00 | % | | | - | % | | | 12/22/2017 | | 12/31/2026 | | | | | 3,562,250 | | | 3,562,250 | | | 748,073 | | 0.20 | % |
Priority Revolver (SBIC) | | (4)(19) | | First Lien | | | 5.00 | % | - | % | - | % | - | % | 5/3/2024 | | 12/31/2026 | | | | | 1,500,113 | | | 1,500,113 | | | 3,000,226 | | 0.79 | % |
J.R. Watkins Ultimate Holdings, LLC Class A Units (SBIC) | | (4) | | Equity | | | | | | | | | | | 4/9/2025 | | | | | | | 500 | | | - | | | - | | 0.00 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 15,097,321 | | $ | 5,855,640 | | 1.55 | % |
Total Control investments | | | | | | | | | | | | | | | | | | | | | | | | $ | 33,202,703 | | $ | 13,568,095 | | 3.61 | % |
Non-controlled, non-affiliated investments | | (4)(5) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
2X LLC | | | | | | | | | | | | | | | | | | | Berwyn, PA | | | | | | | | | | | | |
Term Loan | | (11) | | First Lien | | 3M SOFR+ | 5.00 | % | 2.00 | % | 9.00 | % | | | 6/5/2023 | | 6/5/2028 | | Services: Business | | $ | 5,390,204 | | | 5,306,951 | | | 5,363,253 | | 1.42 | % |
Term Loan | | (11) | | First Lien | | 3M SOFR+ | 5.00 | % | 2.00 | % | 9.00 | % | | | 10/31/2023 | | 6/5/2028 | | | | | 1,419,420 | | | 1,396,059 | | | 1,412,323 | | 0.37 | % |
Term Loan | | (11) | | First Lien | | 3M SOFR+ | 5.00 | % | 2.00 | % | 9.00 | % | | | 12/2/2024 | | 6/5/2028 | | | | | 3,822,742 | | | 3,776,972 | | | 3,803,628 | | 1.01 | % |
Revolver | | (9)(11) | | First Lien | | 3M SOFR+ | 5.00 | % | 2.00 | % | 9.00 | % | | | 6/5/2023 | | 6/5/2028 | | | | | 42,500 | | | 42,500 | | | 42,288 | | 0.01 | % |
2X Investors LP Class A Units | | | | Equity | | | | | | | | | | | 6/5/2023 | | | | | | | 43,875 | | | 176,915 | | | 1,275,364 | | 0.34 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 10,699,397 | | $ | 11,896,856 | | 3.15 | % |
Ad.Net Acquisition, LLC | | (9) | | | | | | | | | | | | | | | | | Los Angeles, CA | | | | | | | | | | | | |
Term Loan (SBIC II) | | (5)(11) | | First Lien | | 3M SOFR+ | 6.00 | % | 1.00 | % | 10.26 | % | | | 5/7/2021 | | 5/7/2026 | | Services: Business | | $ | 14,925,735 | | | 14,891,318 | | | 14,925,735 | | 3.95 | % |
Revolver | | (11) | | First Lien | | 3M SOFR+ | 6.00 | % | 1.00 | % | 10.26 | % | | | 5/7/2021 | | 5/7/2026 | | | | | 854,217 | | | 854,217 | | | 854,217 | | 0.23 | % |
Ad.Net Holdings, Inc. Series A Common Stock (SBIC II) | | (5) | | Equity | | | | | | | | | | | 5/7/2021 | | | | | | | 7,794 | | | 77,941 | | | 0 | | 0.00 | % |
Ad.Net Holdings, Inc. Series A Preferred Stock (SBIC II) | | (5) | | Equity | | | | | | | | | | | 5/7/2021 | | | | | | | 7,015 | | | 701,471 | | | 523,329 | | 0.14 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 16,524,947 | | $ | 16,303,281 | | 4.32 | % |
AdCellerant LLC | | (9) | | | | | | | | | | | | | | | | | Denver, CO | | | | | | | | | | | | |
Term A Loan (SBIC II) | | (5)(11) | | First Lien | | 1M SOFR+ | 6.00 | % | 2.00 | % | 10.16 | % | | | 12/12/2023 | | 12/12/2028 | | Media: Advertising, Printing & Publishing | | $ | 9,825,000 | | | 9,686,224 | | | 9,775,875 | | 2.59 | % |
AdCellerant Holdings, LLC Series A Units | | | | Equity | | | | | | | | | | | 12/12/2023 | | | | | | | 728,710 | | | 728,710 | | | 581,560 | | 0.15 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 10,414,934 | | $ | 10,357,435 | | 2.74 | % |
ADS Group Opco, LLC | | | | | | | | | | | | | | | | | | | Lakewood, CO | | | | | | | | | | | | |
Term Loan (SBIC II) | | (5)(25) | | First Lien | | | 5.00 | % | - | % | - | % | - | % | 6/4/2021 | | 12/31/2027 | | Aerospace & Defense | | $ | 12,851,659 | | | 12,806,678 | | | 10,538,360 | | 2.79 | % |
Priority Revolver (SBIC II) | | (5)(9)(25) | | First Lien | | | 5.00 | % | - | % | - | % | - | % | 9/30/2024 | | 12/31/2027 | | | | | 35,305 | | | 35,305 | | | 70,610 | | 0.02 | % |
ADS Group Topco, LLC Class A Units | | | | Equity | | | | | | | | | | | 6/4/2021 | | | | | | | 77,626 | | | 288,691 | | | - | | 0.00 | % |
ADS Group Topco, LLC Class B Units | | | | Equity | | | | | | | | | | | 6/4/2021 | | | | | | | 56,819 | | | 211,309 | | | - | | 0.00 | % |
ADS Group Topco, LLC Class D Units | | | | Equity | | | | | | | | | | | 9/30/2024 | | | | | | | 432 | | | - | | | - | | 0.00 | % |
ADS Group Topco, LLC Class Y Units | | | | Equity | | | | | | | | | | | 4/11/2023 | | | | | | | 48,216 | | | 165,027 | | | - | | 0.00 | % |
ADS Group Topco, LLC Class Z Units | | | | Equity | | | | | | | | | | | 6/15/2022 | | | | | | | 72,043 | | | 267,929 | | | - | | 0.00 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 13,774,939 | | $ | 10,608,970 | | 2.81 | % |
Advanced Barrier Extrusions, LLC | | | | | | | | | | | | | | | | | | | Rhinelander, WI | | | | | | | | | | | | |
Term Loan B (SBIC) | | (4)(11)(13) | | First Lien | | 1M SOFR+ | 9.50 | % | 1.00 | % | - | % | - | % | 11/30/2020 | | 11/30/2026 | | Containers, Packaging, & Glass | | $ | 16,843,750 | | | 16,765,188 | | | - | | 0.00 | % |
Super Priority Term Loan (SBIC) | | (4)(13) | | First Lien | | | 15.00 | % | | | - | % | - | % | 12/6/2024 | | 11/30/2026 | | | | | 795,882 | | | 970,378 | | | 2,077,252 | | 0.55 | % |
Super Priority Term Loan (SBIC) | | (4)(13) | | First Lien | | | 15.00 | % | | | - | % | - | % | 2/5/2025 | | 11/30/2026 | | | | | 875,000 | | | 875,000 | | | 2,283,750 | | 0.60 | % |
Super Priority Term Loan (SBIC) | | (4)(13) | | First Lien | | | 15.00 | % | | | - | % | - | % | 3/26/2025 | | 11/30/2026 | | | | | 500,000 | | | 500,000 | | | 1,305,000 | | 0.35 | % |
Term Loan A (SBIC) | | (4)(13) | | First Lien | | 1M SOFR+ | 9.50 | % | 1.00 | % | - | % | - | % | 3/26/2025 | | 11/30/2026 | | | | | 2,607,637 | | | 565,204 | | | - | | 0.00 | % |
Revolver (SBIC) | | (4)(13) | | First Lien | | 1M SOFR+ | 9.50 | % | 1.00 | % | - | % | - | % | 3/26/2025 | | 11/30/2026 | | | | | 1,558,434 | | | 337,790 | | | - | | 0.00 | % |
GP ABX Holdings Partnership, L.P. Partner Interests | | | | Equity | | | | | | | | | | | 8/8/2018 | | | | | | | 644,737 | | | 528,395 | | | - | | 0.00 | % |
GP ABX Holdings Partnership, L.P. Series B Preferred Interests | | | | Equity | | | | | | | | | | | 1/5/2023 | | | | | | | 1,562 | | | 156,182 | | | - | | 0.00 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 20,698,137 | | $ | 5,666,002 | | 1.50 | % |
Table of Contents
Stellus Capital Investment Corporation
Consolidated Schedule of Investments
September 30, 2025
(unaudited)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | Principal | | | | | | | | % of | |
| | | | | | | | | | | | | | | Investment | | | | Headquarters/ | | Amount/ | | Amortized | | Fair | | Net | |
Investments | | Footnotes | | Security(2) | | Coupon | | Floor | | Cash | | PIK | | Date | | Maturity | | Industry | | Shares(3) | | Cost | | Value(1) | | Assets | |
AGT Robotique Inc. | | (7)(27) | | | | | | | | | | | | | | | | | Trois Rivieres, Canada | | | | | | | | | | | | |
Term Loan | | (11) | | First Lien | | 3M SOFR+ | 7.50 | % | 1.00 | % | 9.50 | % | | | 6/24/2024 | | 6/22/2029 | | Capital Equipment | | $ | 10,592,844 | | | 10,423,517 | | | 10,380,987 | | 2.75 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 10,423,517 | | $ | 10,380,987 | | 2.75 | % |
American Refrigeration, LLC | | (9) | | | | | | | | | | | | | | | | | Jacksonville, FL | | | | | | | | | | | | |
Term Loan (SBIC) | | (4)(11) | | First Lien | | 3M SOFR+ | 6.25 | % | 1.50 | % | 10.25 | % | | | 3/31/2023 | | 3/31/2028 | | Capital Equipment | | $ | 8,068,786 | | | 7,952,902 | | | 8,068,786 | | 2.14 | % |
Delayed Draw Term Loan | | (11) | | First Lien | | 3M SOFR+ | 6.25 | % | 1.50 | % | 10.25 | % | | | 3/31/2023 | | 3/31/2028 | | | | | 98,500 | | | 97,677 | | | 98,500 | | 0.03 | % |
AR-USA Holdings, LLC Class A Units | | (6) | | Equity | | | | | | | | | | | 3/31/2023 | | | | | | | 141 | | | 129,350 | | | 230,449 | | 0.06 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 8,179,929 | | $ | 8,397,735 | | 2.23 | % |
AMII Acquisition, LLC | | (9) | | | | | | | | | | | | | | | | | Coral Gables, FL | | | | | | | | | | | | |
Term Loan (SBIC II ) | | (5)(11) | | First Lien | | 3M SOFR+ | 4.50 | % | 1.50 | % | 8.50 | % | | | 12/4/2024 | | 12/4/2029 | | Services: Consumer | | $ | 8,753,322 | | | 8,639,426 | | | 8,709,555 | | 2.31 | % |
AMII Holdings, LP Class B Units | | | | Equity | | | | | | | | | | | 12/3/2024 | | | | | | | 14,246 | | | 142,460 | | | 167,804 | | 0.04 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 8,781,886 | | $ | 8,877,359 | | 2.35 | % |
Amika OpCo LLC | | (9) | | | | | | | | | | | | | | | | | Brooklyn, NY | | | | | | | | | | | | |
Term Loan | | (11) | | First Lien | | 6M SOFR+ | 5.25 | % | 0.75 | % | 9.27 | % | | | 7/1/2022 | | 7/1/2029 | | Consumer Goods: Non-Durable | | $ | 94,638 | | | 93,452 | | | 94,638 | | 0.03 | % |
Term Loan | | (11) | | First Lien | | 6M SOFR+ | 5.75 | % | 0.75 | % | 10.19 | % | | | 12/5/2023 | | 7/1/2029 | | | | | 9,536,040 | | | 9,393,862 | | | 9,536,040 | | 2.52 | % |
Ishtar Co-Invest-B LP Partnership Interests | | | | Equity | | | | | | | | | | | 7/1/2022 | | | | | | | 77,778 | | | 38,133 | | | 288,702 | | 0.08 | % |
Oshun Co-Invest-B LP Partnership Interests | | | | Equity | | | | | | | | | | | 7/1/2022 | | | | | | | 22,222 | | | 21,141 | | | 82,485 | | 0.02 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 9,546,588 | | $ | 10,001,865 | | 2.65 | % |
Anne Lewis Strategies, LLC | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
SG AL Investment, LLC Common Units | | (6) | | Equity | | | | | | | | | | | 3/5/2021 | | | | Washington, DC | | | 1,000 | | | 327,192 | | | 2,680,825 | | 0.71 | % |
SG AL Investment, LLC Common-A Units | | (6) | | Equity | | | | | | | | | | | 12/22/2023 | | | | Services: Business | | | 239 | | | 482,200 | | | 985,826 | | 0.26 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 809,392 | | $ | 3,666,651 | | 0.97 | % |
APE Holdings, LLC | | | | | | | | | | | | | | | | | | | Deer Park, TX | | | | | | | | | | | | |
Class A Units | | | | Equity | | | | | | | | | | | 9/5/2014 | | | | Chemicals, Plastics, & Rubber | | | 375,000 | | | 375,000 | | | 26,037 | | 0.01 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 375,000 | | $ | 26,037 | | 0.01 | % |
Atmosphere Aggregator Holdings II, L.P. | | | | | | | | | | | | | | | | | | | Atlanta, GA | | | | | | | | | | | | |
Common Units | | (6) | | Equity | | | | | | | | | | | 1/26/2016 | | | | Services: Business | | | 254,250 | | | - | | | 2,374,938 | | 0.63 | % |
Stratose Aggregator Holdings, L.P. Common Units | | (6) | | Equity | | | | | | | | | | | 6/30/2015 | | | | | | | 750,000 | | | - | | | 8,708,106 | | 2.31 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | - | | $ | 11,083,044 | | 2.94 | % |
ArborWorks, LLC | | | | | | | | | | | | | | | | | | | Oakhurst, CA | | | | | | | | | | | | |
Term Loan | | (11) | | First Lien | | 1M SOFR+ | 6.50 | % | 1.00 | % | - | % | 10.75 | % | 11/6/2023 | | 11/6/2028 | | Environmental Industries | | $ | 3,885,033 | | | 3,885,033 | | | 3,885,033 | | 1.03 | % |
Revolver | | (9) | | First Lien | | | 15.00 | % | | | - | % | 15.00 | % | 11/6/2023 | | 11/6/2028 | | | | | 1,152,118 | | | 1,152,118 | | | 1,152,118 | | 0.31 | % |
ArborWorks Intermediate Holdco, LLC Class A-1 Preferred Units | | | | Equity | | | | | | | | | | | 11/6/2023 | | | | | | | 16,037 | | | 3,610,847 | | | 5,804,957 | | 1.54 | % |
ArborWorks Intermediate Holdco, LLC Class B-1 Preferred Units | | | | Equity | | | | | | | | | | | 11/6/2023 | | | | | | | 16,037 | | | - | | | - | | 0.00 | % |
ArborWorks Intermediate Holdco, LLC Class A-1 Common Units | | | | Equity | | | | | | | | | | | 11/6/2023 | | | | | | | 1,923 | | | - | | | - | | 0.00 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 8,647,998 | | $ | 10,842,108 | | 2.88 | % |
Arctiq, Inc. | | | | | | | | | | | | | | | | | | | Irvine, CA | | | | | | | | | | | | |
Term Loan | | (11) | | First Lien | | 3M SOFR+ | 6.00 | % | 2.00 | % | 10.00 | % | | | 8/8/2023 | | 8/8/2028 | | High Tech Industries | | $ | 10,946,847 | | | 10,768,700 | | | 10,892,113 | | 2.88 | % |
Term Loan | | (11) | | First Lien | | 1M SOFR+ | 6.00 | % | 2.00 | % | 10.16 | % | | | 11/6/2024 | | 8/8/2028 | | | | | 1,287,000 | | | 1,266,447 | | | 1,280,565 | | 0.34 | % |
Delayed Draw Term Loan | | (11) | | First Lien | | 3M SOFR+ | 6.00 | % | 2.00 | % | 10.00 | % | | | 8/8/2023 | | 8/8/2028 | | | | | 400,985 | | | 397,611 | | | 398,980 | | 0.11 | % |
Green Topco Holdings, LLC Class A Units | | (6) | | Equity | | | | | | | | | | | 8/8/2023 | | | | | | | 271,401 | | | 202,628 | | | 307,896 | | 0.08 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 12,635,386 | | $ | 12,879,554 | | 3.41 | % |
Axis Portable Air, LLC | | | | | | | | | | | | | | | | | | | Phoenix, AZ | | | | | | | | | | | | |
Term Loan (SBIC II) | | (5)(11) | | First Lien | | 3M SOFR+ | 5.50 | % | 2.00 | % | 9.50 | % | | | 3/22/2022 | | 3/22/2028 | | Capital Equipment | | $ | 9,333,750 | | | 9,246,171 | | | 9,333,750 | | 2.47 | % |
Term Loan (SBIC II) | | (5)(11) | | First Lien | | 3M SOFR+ | 5.50 | % | 2.00 | % | 9.50 | % | | | 4/17/2023 | | 3/22/2028 | | | | | 1,860,472 | | | 1,838,974 | | | 1,860,472 | | 0.49 | % |
Revolver | | (9)(11) | | First Lien | | 3M SOFR+ | 5.50 | % | 2.00 | % | 9.50 | % | | | 3/22/2022 | | 3/22/2028 | | | | | 15,000 | | | 15,000 | | | 15,000 | | 0.00 | % |
Delayed Draw Term Loan | | (11) | | First Lien | | 3M SOFR+ | 5.50 | % | 2.00 | % | 9.50 | % | | | 3/22/2022 | | 3/22/2028 | | | | | 98,250 | | | 97,752 | | | 98,250 | | 0.03 | % |
Axis Air Parent, LLC Preferred Units | | | | Equity | | | | | | | | | | | 3/22/2022 | | | | | | | 4,436 | | | 443,636 | | | 1,803,893 | | 0.48 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 11,641,533 | | $ | 13,111,365 | | 3.47 | % |
Baker Manufacturing Company, LLC | | | | | | | | | | | | | | | | | | | Evansville, IN | | | | | | | | | | | | |
BSC Blue Water Holdings, LLC Series A Units (SBIC II) | | (5) | | Equity | | | | | | | | | | | 7/5/2022 | | | | Capital Equipment | | | 743,770 | | | 743,770 | | | 999,787 | | 0.26 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 743,770 | | $ | 999,787 | | 0.26 | % |
Table of Contents
Stellus Capital Investment Corporation
Consolidated Schedule of Investments
September 30, 2025
(unaudited)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | Principal | | | | | | | | % of | |
| | | | | | | | | | | | | | | Investment | | | | Headquarters/ | | Amount/ | | Amortized | | Fair | | Net | |
Investments | | Footnotes | | Security(2) | | Coupon | | Floor | | Cash | | PIK | | Date | | Maturity | | Industry | | Shares(3) | | Cost | | Value(1) | | Assets | |
Bart & Associates, LLC | | | | | | | | | | | | | | | | | | | McLean, VA | | | | | | | | | | | | |
Term Loan (SBIC) | | (4)(10)(12) | | First Lien | | 3M SOFR+ | 5.25 | % | 1.00 | % | 9.67 | % | | | 8/16/2024 | | 8/16/2030 | | High Tech Industries | | $ | 8,853,273 | | | 8,719,494 | | | 8,853,273 | | 2.34 | % |
Delayed Draw Term Loan | | (10)(12) | | First Lien | | 3M SOFR+ | 5.25 | % | 1.00 | % | 9.67 | % | | | 8/16/2024 | | 8/16/2030 | | | | $ | 1,729,054 | | | 1,714,489 | | | 1,729,054 | | 0.46 | % |
B&A Partners Holding, LLC Series A Preferred Units | | | | Equity | | | | | | | | | | | 8/16/2024 | | | | | | | 722,411 | | | 722,411 | | | 791,832 | | 0.21 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 11,156,394 | | $ | 11,374,159 | | 3.01 | % |
BL Products Parent, L.P. | | | | | | | | | | | | | | | | | | | Houston, TX | | | | | | | | | | | | |
Class A Units | | | | Equity | | | | | | | | | | | | | | | Capital Equipment | | | 879,060 | | | 983,608 | | | 1,248,562 | | 0.33 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 983,608 | | $ | 1,248,562 | | 0.33 | % |
Café Valley, Inc. | | | | | | | | | | | | | | | | | | | Phoenix, AZ | | | | | | | | | | | | |
CF Topco LLC Units | | | | Equity | | | | | | | | | | | 8/28/2019 | | | | Beverage & Food | | | 9,160 | | | 916,015 | | | 2,102,347 | | 0.56 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 916,015 | | $ | 2,102,347 | | 0.56 | % |
Camp Profiles LLC | | (9) | | | | | | | | | | | | | | | | | Boston, MA | | | | | | | | | | | | |
Term Loan (SBIC) | | (4)(11) | | First Lien | | 3M SOFR+ | 5.25 | % | 1.00 | % | 9.40 | % | | | 9/3/2021 | | 9/3/2026 | | Media: Advertising, Printing & Publishing | | $ | 9,840,000 | | | 9,795,182 | | | 9,840,000 | | 2.61 | % |
Term Loan (SBIC) | | (4)(11) | | First Lien | | 3M SOFR+ | 5.25 | % | 1.00 | % | 9.40 | % | | | 12/3/2024 | | 9/3/2026 | | | | | 2,233,125 | | | 2,214,041 | | | 2,233,125 | | 0.59 | % |
CIVC VI-A 829 Blocker, LLC Units | | | | Equity | | | | | | | | | | | 9/3/2021 | | | | | | | 250 | | | 250,000 | | | 897,020 | | 0.24 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 12,259,223 | | $ | 12,970,145 | | 3.44 | % |
Carolinas Buyer, Inc. | | (9) | | | | | | | | | | | | | | | | | Charlotte, NC | | | | | | | | | | | | |
Term Loan | | (11) | | First Lien | | 3M SOFR+ | 5.00 | % | 1.50 | % | 9.00 | % | | | 12/20/2024 | | 12/20/2030 | | Beverage & Food | | $ | 6,796,831 | | | 6,689,171 | | | 6,660,894 | | 1.76 | % |
Carolinas Holding, L.P. Class A Units | | | | Equity | | | | | | | | | | | 12/20/2024 | | | | | | | 466 | | | 465,637 | | | 478,613 | | 0.13 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 7,154,808 | | $ | 7,139,507 | | 1.89 | % |
CEATI International Inc. | | (7)(9) | | | | | | | | | | | | | | | | | Montreal, Canada | | | | | | | | | | | | |
Term Loan | | (11) | | First Lien | | 3M SOFR+ | 6.00 | % | 1.00 | % | 10.00 | % | | | 2/19/2021 | | 12/31/2027 | | Services: Business | | $ | 8,371,416 | | | 8,354,781 | | | 8,371,416 | | 2.22 | % |
Term Loan | | (11) | | First Lien | | 3M SOFR+ | 6.00 | % | 1.00 | % | 10.00 | % | | | 12/20/2024 | | 12/31/2027 | | | | | 3,174,963 | | | 3,153,097 | | | 3,174,963 | | 0.84 | % |
CEATI Holdings, LP Class A Units | | | | Equity | | | | | | | | | | | 2/19/2021 | | | | | | | 250,000 | | | 132,919 | | | 281,049 | | 0.07 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 11,640,797 | | $ | 11,827,428 | | 3.13 | % |
Cerebro Buyer, LLC | | (9) | | | | | | | | | | | | | | | | | Columbia, SC | | | | | | | | | | | | |
Term Loan | | (11) | | First Lien | | 1M SOFR+ | 5.00 | % | 1.00 | % | 9.16 | % | | | 3/15/2023 | | 3/15/2029 | | Healthcare & Pharmaceuticals | | $ | 4,526,683 | | | 4,451,615 | | | 4,526,683 | | 1.20 | % |
Cerebro Holdings Partnership, L.P. Series A Partner Interests | | | | Equity | | | | | | | | | | | 3/15/2023 | | | | | | | 62,961 | | | 62,961 | | | 75,984 | | 0.02 | % |
Cerebro Holdings Partnership, L.P. Series B Partner Interests | | (6) | | Equity | | | | | | | | | | | 3/15/2023 | | | | | | | 341,091 | | | 328,640 | | | 411,638 | | 0.11 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 4,843,216 | | $ | 5,014,305 | | 1.33 | % |
CF Arch Holdings LLC | | | | | | | | | | | | | | | | | | | Houston, TX | | | | | | | | | | | | |
Class A Units | | (6) | | Equity | | | | | | | | | | | 8/10/2022 | | | | Services: Business | | | 100,000 | | | 88,511 | | | 167,828 | | 0.04 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 88,511 | | $ | 167,828 | | 0.04 | % |
CF512, Inc. | | (9) | | | | | | | | | | | | | | | | | Blue Bell, PA | | | | | | | | | | | | |
Term Loan (SBIC) | | (4)(11) | | First Lien | | 3M SOFR+ | 6.00 | % | 1.00 | % | 10.36 | % | | | 9/1/2021 | | 9/1/2026 | | Media: Advertising, Printing & Publishing | | $ | 13,256,558 | | | 13,196,179 | | | 13,190,275 | | 3.49 | % |
Delayed Draw Term Loan | | (11) | | First Lien | | 3M SOFR+ | 6.00 | % | 1.00 | % | 10.19 | % | | | 9/1/2021 | | 9/1/2026 | | | | | 2,862,695 | | | 2,855,923 | | | 2,848,382 | | 0.75 | % |
Revolver | | (11) | | First Lien | | 1M SOFR+ | 6.00 | % | 1.00 | % | 10.18 | % | | | 9/1/2021 | | 9/1/2026 | | | | | 9,000 | | | 9,000 | | | 8,955 | | 0.00 | % |
StellPen Holdings, LLC Membership Interests | | | | Equity | | | | | | | | | | | 9/1/2021 | | | | | | | 220,930 | | | 220,930 | | | 161,651 | | 0.04 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 16,282,032 | | $ | 16,209,263 | | 4.28 | % |
Champion Services Acquireco LLC | | (9) | | | | | | | | | | | | | | | | | Round Rock, TX | | | | | | | | | | | | |
Term Loan | | (11) | | First Lien | | 3M SOFR+ | 5.00 | % | 1.00 | % | 9.02 | % | | | 9/19/2025 | | 9/19/2030 | | Construction & Building | | $ | 12,000,000 | | | 11,760,000 | | | 11,760,000 | | 3.11 | % |
Champion Services Holdings LLC Class A-1 Units | | | | Equity | | | | | | | | | | | 9/19/2025 | | | | | | | 268,889 | | | 268,889 | | | 268,889 | | 0.07 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 12,028,889 | | $ | 12,028,889 | | 3.18 | % |
Channel Partners Intermediateco, LLC | | (9) | | | | | | | | | | | | | | | | | Tampa Bay, FL | | | | | | | | | | | | |
Term Loan (SBIC) | | (4)(11) | | First Lien | | 3M SOFR+ | 6.75 | % | 2.00 | % | 11.23 | % | | | 2/24/2022 | | 2/7/2027 | | Retail | | $ | 13,016,567 | | | 12,974,459 | | | 13,016,567 | | 3.46 | % |
Term Loan (SBIC) | | (4)(11) | | First Lien | | 3M SOFR+ | 6.75 | % | 2.00 | % | 11.23 | % | | | 3/27/2023 | | 2/7/2027 | | | | | 1,659,782 | | | 1,652,908 | | | 1,659,782 | | 0.44 | % |
Revolver | | (11) | | First Lien | | 3M SOFR+ | 6.75 | % | 2.00 | % | 11.20 | % | | | 2/24/2022 | | 2/7/2027 | | | | | 53,333 | | | 53,333 | | | 53,333 | | 0.01 | % |
Revolver | | (11) | | First Lien | | 3M SOFR+ | 6.75 | % | 2.00 | % | 11.23 | % | | | 2/24/2022 | | 2/7/2027 | | | | | 20,000 | | | 20,000 | | | 20,000 | | 0.01 | % |
Revolver | | (11) | | First Lien | | 3M SOFR+ | 6.75 | % | 2.00 | % | 11.28 | % | | | 2/24/2022 | | 2/7/2027 | | | | | 10,000 | | | 10,000 | | | 10,000 | | 0.00 | % |
Revolver | | (11) | | First Lien | | 3M SOFR+ | 6.75 | % | 2.00 | % | 11.06 | % | | | 2/24/2022 | | 2/7/2027 | | | | | 6,667 | | | 6,667 | | | 6,667 | | 0.00 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 14,717,367 | | $ | 14,766,349 | | 3.92 | % |
Table of Contents
Stellus Capital Investment Corporation
Consolidated Schedule of Investments
September 30, 2025
(unaudited)
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| | | | | | | | | | | | | | | | | | | | | Principal | | | | | | | | % of | |
| | | | | | | | | | | | | | | Investment | | | | Headquarters/ | | Amount/ | | Amortized | | Fair | | Net | |
Investments | | Footnotes | | Security(2) | | Coupon | | Floor | | Cash | | PIK | | Date | | Maturity | | Industry | | Shares(3) | | Cost | | Value(1) | | Assets | |
CompleteCase, LLC | | | | | | | | | | | | | | | | | | | Seattle, WA | | | | | | | | | | | | |
CompleteCase Holdings, Inc. Class A Common Stock (SBIC II) | | (5) | | Equity | | | | | | | | | | | 12/21/2020 | | | | Services: Consumer | | | 417 | | | 5 | | | - | | 0.00 | % |
CompleteCase Holdings, Inc. Series A Preferred Stock (SBIC II) | | (5) | | Equity | | | | | | | | | | | 12/21/2020 | | | | | | | 522 | | | 521,734 | | | 167,494 | | 0.04 | % |
CompleteCase Holdings, Inc. Class A Common Stock | | | | Equity | | | | | | | | | | | 4/27/2023 | | | | | | | 89 | | | 1 | | | - | | 0.00 | % |
CompleteCase Holdings, Inc. Series C Preferred Stock | | | | Equity | | | | | | | | | | | 4/27/2023 | | | | | | | 111 | | | 111,408 | | | 111,409 | | 0.03 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 633,148 | | $ | 278,903 | | 0.07 | % |
Compost 360 Acquisition, LLC | | (9) | | | | | | | | | | | | | | | | | Tampa, FL | | | | | | | | | | | | |
Term Loan (SBIC II) | | (5)(11) | | First Lien | | 3M SOFR+ | 6.50 | % | 2.00 | % | 9.00 | % | 1.50 | % | 8/2/2023 | | 8/2/2028 | | Environmental Industries | | $ | 9,445,255 | | | 9,292,194 | | | 8,878,540 | | 2.35 | % |
Delayed Draw Term Loan | | (11) | | First Lien | | 3M SOFR+ | 6.50 | % | 2.00 | % | 9.00 | % | 1.50 | % | 8/2/2023 | | 8/2/2028 | | | | | 1,039,830 | | | 1,028,846 | | | 977,440 | | 0.26 | % |
Revolver | | (11) | | First Lien | | 3M SOFR+ | 8.50 | % | 2.00 | % | 12.49 | % | | | 8/2/2023 | | 8/2/2028 | | | | | 5,000 | | | 5,000 | | | 4,700 | | 0.00 | % |
Revolver | | (11) | | First Lien | | 3M SOFR+ | 8.50 | % | 2.00 | % | 12.50 | % | | | 8/2/2023 | | 8/2/2028 | | | | | 301 | | | 301 | | | 283 | | 0.00 | % |
Compost 360 Investments, LLC Class A Units | | | | Equity | | | | | | | | | | | 8/2/2023 | | | | | | | 3,124 | | | 300,041 | | | 86,180 | | 0.02 | % |
Compost 360 Investments, LLC Preferred Units | | | | Equity | | | | | | | | | | | 8/29/2025 | | | | | | | 614 | | | 27,630 | | | 34,555 | | 0.01 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 10,654,012 | | $ | 9,981,698 | | 2.64 | % |
COPILOT Provider Support Services, LLC | | (9) | | | | | | | | | | | | | | | | | Maitland, FL | | | | | | | | | | | | |
Term Loan | | (11) | | First Lien | | 3M SOFR+ | 6.25 | % | 2.00 | % | 10.40 | % | | | 11/22/2022 | | 11/22/2027 | | Healthcare & Pharmaceuticals | | $ | 4,850,000 | | | 4,801,124 | | | 4,850,000 | | 1.28 | % |
QHP Project Captivate Blocker, Inc. Common Stock | | | | Equity | | | | | | | | | | | 11/22/2022 | | | | | | | 4 | | | 285,714 | | | 376,376 | | 0.10 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 5,086,838 | | $ | 5,226,376 | | 1.38 | % |
Craftable Intermediate II Inc. | | (9) | | | | | | | | | | | | | | | | | Dallas, TX | | | | | | | | | | | | |
Term Loan (SBIC II) | | (5)(11) | | First Lien | | 3M SOFR+ | 5.75 | % | 1.50 | % | 9.75 | % | | | 6/30/2023 | | 6/30/2028 | | High Tech Industries | | $ | 9,907,250 | | | 9,783,558 | | | 9,907,250 | | 2.62 | % |
Gauge Craftable LP Partnership Interests | | | | Equity | | | | | | | | | | | 6/30/2023 | | | | | | | 626,690 | | | 626,690 | | | 1,098,180 | | 0.29 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 10,410,248 | | $ | 11,005,430 | | 2.91 | % |
Curion Holdings, LLC | | (9) | | | | | | | | | | | | | | | | | Chicago, IL | | | | | | | | | | | | |
Term Loan (SBIC II) | | (5)(11) | | First Lien | | 3M SOFR+ | 6.50 | % | 1.00 | % | 10.40 | % | 0.25 | % | 7/29/2022 | | 7/29/2027 | | Services: Business | | $ | 12,689,339 | | | 12,582,369 | | | 12,562,446 | | 3.34 | % |
Revolver | | (11) | | First Lien | | 3M SOFR+ | 6.50 | % | 1.00 | % | 10.40 | % | 0.25 | % | 7/29/2022 | | 7/29/2027 | | | | | 101,578 | | | 101,578 | | | 100,562 | | 0.03 | % |
SP CS Holdings LLC Class A Units | | | | Equity | | | | | | | | | | | 7/29/2022 | | | | | | | 739,999 | | | 739,999 | | | 640,603 | | 0.17 | % |
Total | | | | | | | | | | | | | | | | | | | | | | | | $ | 13,423,946 | | $ | 13,303,611 | | 3.54 | % |
DFO Enterprises, LLC | | (9) | | | | | | | | | | | | | | | | | Rochester, MN | | | | | | | | | | | | |
Term Loan (SBIC II) | | (5)(11) | | First Lien | | 3M SOFR+ | 5.25 | % | 1.50 | % | 9.25 | % | | | 9/22/2025 | | 9/22/2030 | | Capital Equipment | | $ | 11,580,474 | | | 11,377,816 | | | |