0001487918-26-000091 | 10-Q | XBRL Viewer

Consolidated Schedule of Investments In and Advances To Affiliates

9 Months Ended

Sep. 30, 2026

Investments in and Advances to Affiliates [Abstract]

Consolidated Schedule of Investments In and Advances To Affiliates

Note 10. Consolidated Schedule of Investments In and Advances To Affiliates


		Nine Months Ended September 30, 2026
Name of Portfolio Company	Investment Type (1)	Net Realized Gain (Loss)		Net Change in Unrealized Appreciation/ (Depreciation)			Interest		Dividends		Fees		Total Income (2)		December 31, 2025, Fair Value (5)		Gross Additions (3)		Gross Reductions (4)			September 30, 2026, Fair Value (5)
Affiliate Investments
Contract Datascan Holdings, Inc.	Preferred Equity (7)	$	—	$	3,294		$	—	$	982	$	—	$	982	$	9,201	$	4,276	$	—		$	13,477
	Preferred Equity (7)		—		4			—		293		—		293		2,884		297		—			3,181
	Common Equity (6)		—		—			—		—		—		—		—		—		—			—
	Warrants (6)		—		202			—		—		—		—		—		202		—			202
	Warrants (6)		—		—			—		—		—		—		—		—		—			—
			—		3,500			—		1,275		—		1,275		12,085		4,775		—			16,860

DRS Imaging Services, LLC	Common Equity (6)		—		1,043			—		—		—		—		2,671		1,043		—			3,714

Pfanstiehl Holdings, Inc.	Common Equity		—		8,289			—		874		—		874		79,421		8,289		—			87,710

SSJA Bariatric Management LLC	First Lien Debt		—		(3	)		17		—		1		18		235		1		(3	)		233
	First Lien Debt		—		(2,389	)		179		—		—		179		3,804		239		(2,389	)		1,654
	Common Equity (6)		—		(1,729	)		—		—		—		—		1,729		—		(1,729	)		—
			—		(4,121	)		196		—		1		197		5,768		240		(4,121	)		1,887

Total Affiliate Investments		$	—	$	8,711		$	196	$	2,149	$	1	$	2,346	$	99,945	$	14,347	$	(4,121	)	$	110,171

(1)

Principal balance, interest rate and maturity of debt investments, and ownership detail for equity investments are presented in the consolidated schedule of investments. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.

(2)

Represents the total amount of interest, fees or dividends included in income for the nine months ended September 30, 2026.

(3)

Gross additions include increases in cost basis of investments resulting from a new portfolio investment, PIK interest, fees and dividends, accretion of Net Loan Fees, and net increases in unrealized appreciation or decreases in net unrealized depreciation.

(4)

Gross reductions include decreases in the cost basis of investments resulting from principal repayments and sales, and net decreases in net unrealized appreciation or net increases in net unrealized depreciation.

(5)

Fair value was determined using significant unobservable inputs. See Note 5 for further details.

(6)

Non-income producing. The Company has not recognized income on the security during the prior twelve-month period preceding the period-end date.

(7)

Dividends recognized as income include PIK dividends contractually earned but not declared.

Investments (Tables)

9 Months Ended

Sep. 30, 2026

Schedule of Investments [Abstract]

Schedule of Investments

As of September 30, 2026, the Company’s investments consisted of the following:


			Percentage of Total								Percentage of Total
	Amortized Cost		Amortized Cost			Net Assets			Fair Value		Fair Value			Net Assets
First lien debt investments(1)	$	132,536		56.6	%		134.0	%	$	108,291		42.9	%		109.5	%
Second lien debt investments		9,448		4.0	%		9.6	%		2,854		1.1	%		2.9	%
Preferred equity		16,305		7.0	%		16.5	%		17,134		6.8	%		17.3	%
Common equity, warrants and other(2)		26,739		11.4	%		27.1	%		96,738		38.4	%		97.9	%
Total debt and equity investments	$	185,028		79.0	%		187.2	%	$	225,017		89.2	%		227.6	%
Structured Finance Securities		49,142		21.0	%		49.7	%		27,130		10.8	%		27.5	%
Total investments	$	234,170		100.0	%		236.9	%	$	252,147		100.0	%		255.1	%

(1)

Includes unitranche investments (which are loans that combine both senior and subordinated debt, in a first lien position) with an amortized cost and fair value of $86,623 and $69,962, respectively. Unitranche loans generally provide leverage levels comparable to a combination of first lien and second lien or subordinated loans. Investments in “last out” pieces of unitranche loans will be similar to second lien loans in that such investments will be junior in priority to the “first out” piece of the same unitranche loan with respect to payment of principal and interest. Includes secondary priority debt investments governed under a first lien credit agreement.

(2)

Includes the Company’s investment in Pfanstiehl Holdings, Inc. See “Note 4—Portfolio Concentration” and “Note 11—Subsequent Events—Partial Monetization of Equity Interest” for additional information.

Geographic composition is determined by the location of the corporate headquarters of the portfolio company. All international investments are denominated in U.S. dollars. As of September 30, 2026 and December 31, 2025, the Company’s investment portfolio was domiciled as follows:


	September 30, 2026				December 31, 2025
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
United States	$	180,041	$	223,731	$	245,902	$	278,274
Canada(1)		4,987		1,286		4,865		2,136
Cayman Islands(1)(2)		44,850		22,830		73,360		57,112
Jersey(1)(2)		4,292		4,300		4,273		4,493
Total investments	$	234,170	$	252,147	$	328,400	$	342,015

(1)

Represents non-qualifying assets under Section 55(a) of the 1940 Act.

(2)

Investments domiciled in the Cayman Islands and Jersey represent certain Structured Finance Securities held by the Company. These investments generally represent beneficial interests in underlying portfolios of debt investments in companies domiciled in the United States.

As of September 30, 2026, the industry composition of the Company’s investment portfolio was as follows:


			Percentage of Total								Percentage of Total
Industry	Amortized Cost		Amortized Cost			Net Assets			Fair Value		Fair Value			Net Assets
Administrative and Support and Waste Management and Remediation Services	$	11,170		4.8	%		11.3	%	$	10,925		4.3	%		11.1	%
Construction		1,954		0.8	%		2.0	%		848		0.3	%		0.9	%
Education Services		670		0.3	%		0.7	%		620		0.2	%		0.6	%
Finance and Insurance		3,295		1.4	%		3.3	%		3,072		1.2	%		3.1	%
Health Care and Social Assistance		45,588		19.5	%		46.1	%		18,509		7.4	%		18.6	%
Information		18,871		8.0	%		19.1	%		16,593		6.7	%		16.7	%
Management of Companies and Enterprises		12,551		5.4	%		12.7	%		10,682		4.2	%		10.8	%
Manufacturing		18,472		7.9	%		18.7	%		98,378		39.0	%		99.5	%
Other Services (except Public Administration)		1,952		0.8	%		2.0	%		1,941		0.8	%		2.0	%
Professional, Scientific, and Technical Services		22,780		9.7	%		23.0	%		22,703		9.0	%		23.0	%
Public Administration		703		0.3	%		0.7	%		26		0.0	%		0.0	%
Real Estate and Rental and Leasing		26,659		11.4	%		27.0	%		26,046		10.3	%		26.4	%
Retail Trade		10,785		4.6	%		10.9	%		9,386		3.7	%		9.5	%
Wholesale Trade		9,578		4.1	%		9.7	%		5,288		2.1	%		5.4	%
Total debt and equity investments	$	185,028		79.0	%		187.2	%	$	225,017		89.2	%		227.6	%
Structured Finance Securities		49,142		21.0	%		49.7	%		27,130		10.8	%		27.5	%
Total investments	$	234,170		100.0	%		236.9	%	$	252,147		100.0	%		255.1	%

As of December 31, 2025, the Company had loans to 34 portfolio companies, of which 95% were first lien debt investments and 5% were second lien debt investments, at fair value. The Company also held equity investments in 15 portfolio companies and 14 investments in Structured Finance Securities. At December 31, 2025, the Company’s investments consisted of the following:


			Percentage of Total								Percentage of Total
	Amortized Cost		Amortized Cost			Net Assets			Fair Value		Fair Value			Net Assets
First lien debt investments(1)	$	188,236		57.3	%		152.8	%	$	170,405		49.8	%		138.4	%
Second lien debt investments		24,924		7.6	%		20.2	%		9,409		2.8	%		7.6	%
Preferred equity		14,287		4.4	%		11.6	%		12,567		3.7	%		10.2	%
Common equity, warrants and other(2)		23,320		7.1	%		18.9	%		88,029		25.7	%		71.6	%
Total debt and equity investments	$	250,767		76.4	%		203.5	%	$	280,410		82.0	%		227.8	%
Structured Finance Securities		77,633		23.6	%		63.0	%		61,605		18.0	%		49.8	%
Total investments	$	328,400		100.0	%		266.5	%	$	342,015		100.0	%		277.6	%

(1)

Includes unitranche investments (which are loans that combine both senior and subordinated debt, in a first lien position) with an amortized cost and fair value of $130,270 and $116,279, respectively. Unitranche loans generally provide leverage levels comparable to a combination of first lien and second lien or subordinated loans. Investments in “last out” pieces of unitranche loans will be similar to second lien loans in that such investments will be junior in priority to the “first out” piece of the same unitranche loan with respect to payment of principal and interest. Includes secondary priority debt investments governed under a first lien credit agreement.

(2)

As of December 31, 2025, the industry compositions of the Company’s debt and equity investments were as follows:


			Percentage of Total								Percentage of Total
Industry	Amortized Cost		Amortized Cost			Net Assets			Fair Value		Fair Value			Net Assets
Administrative and Support and Waste Management and Remediation Services	$	11,234		3.4	%		9.1	%	$	11,006		3.2	%		8.9	%
Construction		18,986		5.8	%		15.4	%		9,644		2.8	%		7.8	%
Education Services		17,891		5.4	%		14.5	%		18,023		5.3	%		14.6	%
Finance and Insurance		3,193		1.0	%		2.6	%		3,068		0.9	%		2.5	%
Health Care and Social Assistance		68,571		20.9	%		55.7	%		48,653		14.3	%		39.6	%
Information		23,651		7.2	%		19.2	%		18,136		5.3	%		14.7	%
Management of Companies and Enterprises		12,562		3.8	%		10.2	%		11,419		3.3	%		9.3	%
Manufacturing		22,336		6.8	%		18.1	%		97,061		28.4	%		78.8	%
Other Services (except Public Administration)		1,493		0.5	%		1.2	%		1,498		0.4	%		1.2	%
Professional, Scientific, and Technical Services		19,384		5.9	%		15.7	%		19,451		5.7	%		15.8	%
Public Administration		703		0.2	%		0.6	%		33		0.0	%		0.0	%
Real Estate and Rental and Leasing		25,720		7.8	%		20.9	%		22,507		6.6	%		18.4	%
Retail Trade		13,355		4.1	%		10.8	%		11,895		3.5	%		9.7	%
Wholesale Trade		11,688		3.6	%		9.5	%		8,016		2.3	%		6.5	%
Total debt and equity investments	$	250,767		76.4	%		203.5	%	$	280,410		82.0	%		227.8	%
Structured Finance Securities		77,633		23.6	%		63.0	%		61,605		18.0	%		49.8	%
Total investments	$	328,400		100.0	%		266.5	%	$	342,015		100.0	%		277.6	%

Schedule of Portfolio Concentrations

The following table presents the Company’s portfolio companies based on fair value that comprise greater than 10% of the Company’s total net assets as of September 30, 2026:


							Percentage of Total
Portfolio Company	Investment Type	Industry	Amortized Cost		Fair Value		Fair Value			Net Assets
Pfanstiehl Holdings, Inc.	Common Equity	Manufacturing	$	217	$	87,710		34.8	%		88.7	%
Inergex Holdings, LLC	First Lien Debt	Professional, Scientific, and Technical Services		17,303		17,303		6.9			17.5
Contract Datascan Holdings, Inc.	Preferred and Common Equity, Warrants	Real Estate and Rental and Leasing		13,882		16,860		6.7			17.1
One GI LLC	First Lien Debt	Management of Companies and Enterprises		12,551		10,682		4.2			10.8
Boca Home Care Holdings, Inc.(1)	First Lien Debt, Preferred and Common Equity	Health Care and Social Assistance		10,625		10,128		4.0			10.2
Total			$	54,578	$	142,683		56.6	%		144.3	%

(1)

As of September 30, 2026, the Company had an outstanding commitment of $1,065 to fund the portfolio company’s undrawn revolver facility.

Consolidated Statements of Changes in Net Assets (unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Investment Company, Net Assets [Roll Forward]
Balance (in shares)			13,398,078
Balance	$ 112,612,000	$ 146,196,000	$ 123,188,000	$ 172,225,000
Net increase (decrease) in net assets resulting from operations:
Net investment income	719,000	2,940,000	4,191,000	9,688,000
Net realized losses on investments, net of taxes	(7,824,000)	(4,646,000)	(25,143,000)	(11,424,000)
Net unrealized (appreciation) depreciation on investments, net of deferred taxes	(4,090,000)	(3,129,000)	3,866,000	(20,017,000)
Loss on extinguishment of debt	(310,000)	(492,000)	(440,000)	(492,000)
Distributions declared	(2,278,000)	(4,555,000)	(6,833,000)	(13,666,000)
Net increase (decrease)	$ (13,783,000)	$ (9,882,000)	$ (24,359,000)	$ (35,911,000)
Balance (in shares)	13,398,078	13,398,078	13,398,078	13,398,078
Balance	$ 98,829,000	$ 136,314,000	$ 98,829,000	$ 136,314,000
Common Stock
Investment Company, Net Assets [Roll Forward]
Balance (in shares)	13,398,078	13,398,078	13,398,078	13,398,078
Balance	$ 134,000	$ 134,000	$ 134,000	$ 134,000
Net increase (decrease) in net assets resulting from operations:
Balance (in shares)	13,398,078	13,398,078	13,398,078	13,398,078
Balance	$ 134,000	$ 134,000	$ 134,000	$ 134,000
Paid-in capital in excess of par
Investment Company, Net Assets [Roll Forward]
Balance	174,195,000	184,912,000	174,195,000	184,912,000
Net increase (decrease) in net assets resulting from operations:
Balance	174,195,000	184,912,000	174,195,000	184,912,000
Total distributable earnings (accumulated losses)
Investment Company, Net Assets [Roll Forward]
Balance	(61,717,000)	(38,850,000)	(51,141,000)	(12,821,000)
Net increase (decrease) in net assets resulting from operations:
Net investment income	719,000	2,940,000	4,191,000	9,688,000
Net realized losses on investments, net of taxes	(7,824,000)	(4,646,000)	(25,143,000)	(11,424,000)
Net unrealized (appreciation) depreciation on investments, net of deferred taxes	(4,090,000)	(3,129,000)	3,866,000	(20,017,000)
Loss on extinguishment of debt	(310,000)	(492,000)	(440,000)	(492)
Distributions declared	(2,278,000)	(4,555,000)	(6,833,000)	(13,666,000)
Net increase (decrease)	(13,783,000)	(9,882,000)	(24,359,000)	(35,911,000)
Balance	$ (75,500,000)	$ (48,732,000)	$ (75,500,000)	$ (48,732,000)

Commitments and Contingencies (Additional Information) (Details) - USD ($) $ in Thousands	Sep. 30, 2026	Dec. 31, 2025
Other Commitments [Line Items]
Cash and cash equivalents	$ 3,132	$ 3,359
Revolving Credit Facility \| Banc of California Credit Facility
Other Commitments [Line Items]
Availability	15,000
Revolving Credit Facility \| Natixis Facility
Other Commitments [Line Items]
Availability	$ 54,600

Related Party Transactions - Narrative (Details)	9 Months Ended	12 Months Ended
Related Party Transactions - Narrative (Details)	Sep. 30, 2026 Component shares	Dec. 31, 2025
Affiliates Of OFS Advisor \| OFS Capital Corporation
Related Party Transaction [Line Items]
Share of common stock owned (in shares) \| shares	3,031,366
Investment ownership percentage	22.60%
Affiliated Entity [Member] \| Investment Advisory Agreement
Related Party Transaction [Line Items]
Number of components of incentive fee	2
Base management fee percentage	1.75%
Affiliated Entity [Member] \| Base management fee, quarterly
Related Party Transaction [Line Items]
Base management fee percentage	0.25%	0.25%
Affiliated Entity [Member] \| Incentive fee, realized capital gains
Related Party Transaction [Line Items]
Incentive fee percentage	20.00%
Affiliated Entity [Member] \| Incentive fee, pre-incentive fee net investment income exceeds catch-up threshold
Related Party Transaction [Line Items]
Incentive fee percentage	20.00%
Affiliated Entity [Member] \| Incentive fee, quarterly catch-up threshold
Related Party Transaction [Line Items]
Incentive fee percentage	2.50%
Affiliated Entity [Member] \| Incentive fee, pre-incentive fee net investment income below catch-up threshold
Related Party Transaction [Line Items]
Incentive fee percentage	100.00%
Affiliated Entity [Member] \| Incentive fee
Related Party Transaction [Line Items]
Number of components of incentive fee	2
Affiliated Entity [Member] \| Incentive fee, annualized hurdle rate
Related Party Transaction [Line Items]
Incentive fee percentage	8.00%
Affiliated Entity [Member] \| Incentive fee, quarterly hurdle rate
Related Party Transaction [Line Items]
Incentive fee percentage	2.00%
Affiliated Entity [Member] \| Incentive fee, pre-incentive fee net income
Related Party Transaction [Line Items]
Incentive fee percentage	20.00%
Affiliated Entity [Member] \| Base management fee, annualized
Related Party Transaction [Line Items]
Base management fee percentage	1.00%	1.00%

Federal Income Tax - Cost of Investments and Associated Gross Unrealized Appreciation (Depreciation) (Details) - USD ($)
$ in Thousands

Sep. 30, 2026

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Fair value of investments

$ 252,147

^[1],[2]

$ 342,015

^[3],[4]

[1]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[2]	Unless otherwise noted in footnote 14, fair value was determined using significant unobservable inputs for all of the Company’s investments and are considered Level 3 under GAAP. See Note 5 for further details.
[3]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[4]	Unless otherwise noted in footnote 14, fair value was determined using significant unobservable inputs for all of the Company’s investments and are considered Level 3 under GAAP. See Note 5 for further details.

- Definition

Fair value of investment in security owned.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 946
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-2

Reference 11: http://www.xbrl.org/2003/role/exampleRef
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-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

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-Topic 946
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+ Details

Financial Highlights

9 Months Ended

Sep. 30, 2026

Investment Company [Abstract]

Financial Highlights

Note 8. Financial Highlights

The following is a schedule of financial highlights for the three and nine months ended September 30, 2026 and 2025:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2026			2025			2026			2025
Per share operating performance:
Net asset value per share at beginning of period	$	8.41		$	10.91		$	9.19		$	12.85
Net investment income(1)		0.05			0.22			0.31			0.72
Net realized loss on investments, net of taxes(1)		(0.58	)		(0.35	)		(1.88	)		(0.85	)
Net unrealized appreciation (depreciation) on investments, net of deferred taxes(1)		(0.31	)		(0.23	)		0.30			(1.49	)
Loss on extinguishment of debt(1)		(0.02	)		(0.04	)		(0.03	)		(0.04	)
Total net loss from operations		(0.86	)		(0.40	)		(1.30	)		(1.66	)
Distributions declared		(0.17	)		(0.34	)		(0.51	)		(1.02	)
Net asset value per share at end of period	$	7.38		$	10.17		$	7.38		$	10.17

Per share market value, end of period	$	3.63		$	7.69		$	3.63		$	7.69
Total return based on market value(2)(3)		7.3	%		(4.9	)%		(12.5	)%		7.2	%
Total return based on net asset value(3)(4)		(8.0	)%		(2.7	)%		(7.7	)%		(11.0	)%
Shares outstanding at end of period		13,398,078			13,398,078			13,398,078			13,398,078
Weighted average shares outstanding		13,398,078			13,398,078			13,398,078			13,398,078
Ratio/Supplemental Data (dollar amounts in thousands)
Average net asset value(5)	$	105,721		$	141,255		$	110,987		$	153,780
Net asset value at end of period	$	98,829		$	136,314		$	98,829		$	136,314
Net investment income	$	719		$	2,940		$	4,191		$	9,688
Ratio of total expenses, net to average net assets(6)(9)		19.7	%		21.6	%		21.0	%		18.8	%
Ratio of total expenses, net and loss on extinguishment of debt to average net assets(6)(8)(10)		20.0	%		21.9	%		21.4	%		19.1	%
Ratio of net investment income to average net assets(6)(11)		2.7	%		8.3	%		5.0	%		8.4	%
Ratio of loss on extinguishment of debt to average net assets(3)		0.3	%		0.3	%		0.4	%		0.3	%
Portfolio turnover(7)		2.8	%		4.8	%		4.0	%		10.5	%

(1)

Calculated on the average share method.

(2)

Calculated as ending market value less beginning market value, adjusted for distributions reinvested at prices based on the Company’s DRIP for the respective distributions.

(3)

Not annualized.

(4)

Calculated as ending net asset value less beginning net asset value, adjusted for distributions reinvested at prices based on the Company’s DRIP for the respective distributions.

(5)

Based on the average of the net asset value at the beginning and end of the indicated period and, if applicable, the preceding calendar quarters.

(6)

Annualized.

(7)

Portfolio turnover rate is calculated using the lesser of period-to-date sales, portfolio investment distributions and principal payments or period-to-date purchases over the average of total investments at fair value.

(8)

Calculated as total expenses (annualized) plus the loss on extinguishment of debt, divided by average net assets.

(9)

Ratio of total expenses before the base management fee waiver to average net assets was 20.4% and 21.7% for the three and nine months ended September 30, 2026.

(10)

Ratio of total expenses before the base management fee waiver plus the loss on extinguishment of debt to average net assets was 20.7% and 22.1% for the three and nine months ended September 30, 2026.

(11)

Ratio of net investment income before the base management fee waiver to average net assets was 2.1% and 4.3% for the three and nine months ended September 30, 2026.

Investments - By Composition and Domicile (Parenthetical) (Details) - USD ($)
$ in Thousands

Sep. 30, 2026

Dec. 31, 2025

Schedule of Investments [Line Items]

Amortized Cost

$ 234,170

^[1]

$ 328,400

^[2]

Fair Value

252,147

^[1],[3]

342,015

^[2],[4]

First Lien Debt Investments, Unitranche [Member]

Schedule of Investments [Line Items]

Amortized Cost

86,623

130,270

Fair Value

$ 69,962

$ 116,279

[1]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[2]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[3]	Unless otherwise noted in footnote 14, fair value was determined using significant unobservable inputs for all of the Company’s investments and are considered Level 3 under GAAP. See Note 5 for further details.
[4]	Unless otherwise noted in footnote 14, fair value was determined using significant unobservable inputs for all of the Company’s investments and are considered Level 3 under GAAP. See Note 5 for further details.

- Definition

Cost of the investment.

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+ Details

- Definition

Fair value of investment in security owned.

+ References

+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Consolidated Schedule of Investments In and Advances To Affiliates (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

9 Months Ended

Sep. 30, 2026

Sep. 30, 2025

Jun. 30, 2026

Sep. 30, 2026

Sep. 30, 2025

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2]

$ 342,015

Fair Value

^[3],[4]

$ 252,147

252,147

Net realized gain (loss) on investments

(25,143)

$ (11,424)

Interest

5,205

$ 9,125

18,829

28,326

Fees

206

162

241

341

Total investment income

5,938

$ 10,551

21,679

$ 31,322

Investment, Identifier [Axis]: Contract Datascan Holdings, Inc., Common Equity

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

^[5],[6],[7]

^[6],[7],[8]

^[6],[7],[9]

^[5],[6],[7]

Net realized gain (loss) on investments

^[6],[7]

Net Change in Unrealized Appreciation/ (Depreciation)

^[6],[7]

Interest

^[6],[7]

Dividends

^[6],[7]

Fees

^[6],[7]

Total investment income

^[6],[7],[10]

Investment, Identifier [Axis]: Contract Datascan Holdings, Inc., Preferred Equity 1

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[5],[7],[11]

9,201

Gross Additions

^[7],[8],[11]

4,276

Gross Reductions

^[7],[9],[11]

Fair Value

^[5],[7],[11]

13,477

Net realized gain (loss) on investments

^[7],[11]

Net Change in Unrealized Appreciation/ (Depreciation)

^[7],[11]

3,294

Interest

^[7],[11]

Dividends

^[7],[11]

982

Fees

^[7],[11]

Total investment income

^{[7],[10],[11]}

982

Investment, Identifier [Axis]: Contract Datascan Holdings, Inc., Preferred Equity 2

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[5],[7],[11]

2,884

Gross Additions

^[7],[8],[11]

297

Gross Reductions

^[7],[9],[11]

Fair Value

^[5],[7],[11]

3,181

Net realized gain (loss) on investments

^[7],[11]

Net Change in Unrealized Appreciation/ (Depreciation)

^[7],[11]

Interest

^[7],[11]

Dividends

^[7],[11]

293

Fees

^[7],[11]

Total investment income

^{[7],[10],[11]}

293

Investment, Identifier [Axis]: Contract Datascan Holdings, Inc., Warrants 1

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[5],[6],[7]

Gross Additions

^[6],[7],[8]

202

Gross Reductions

^[6],[7],[9]

Fair Value

^[5],[6],[7]

202

Net realized gain (loss) on investments

^[6],[7]

Net Change in Unrealized Appreciation/ (Depreciation)

^[6],[7]

202

Interest

^[6],[7]

Dividends

^[6],[7]

Fees

^[6],[7]

Total investment income

^[6],[7],[10]

Investment, Identifier [Axis]: Contract Datascan Holdings, Inc., Warrants 2

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

^[5],[6],[7]

^[6],[7],[8]

^[6],[7],[9]

^[5],[6],[7]

Net realized gain (loss) on investments

^[6],[7]

Net Change in Unrealized Appreciation/ (Depreciation)

^[6],[7]

Interest

^[6],[7]

Dividends

^[6],[7]

Fees

^[6],[7]

Total investment income

^[6],[7],[10]

Investment, Identifier [Axis]: DRS Imaging Services, LLC, Common Equity

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[5],[6],[7]

2,671

Gross Additions

^[6],[7],[8]

1,043

Gross Reductions

^[6],[7],[9]

Fair Value

^[5],[6],[7]

3,714

Net realized gain (loss) on investments

^[6],[7]

Net Change in Unrealized Appreciation/ (Depreciation)

^[6],[7]

1,043

Interest

^[6],[7]

Dividends

^[6],[7]

Fees

^[6],[7]

Total investment income

^[6],[7],[10]

Investment, Identifier [Axis]: Pfanstiehl Holdings, Inc., Common Equity

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[5],[7]

79,421

Gross Additions

^[7],[8]

8,289

Gross Reductions

^[7],[9]

Fair Value

^[5],[7]

87,710

Net realized gain (loss) on investments

^[7]

Net Change in Unrealized Appreciation/ (Depreciation)

^[7]

8,289

Interest

^[7]

Dividends

^[7]

874

Fees

^[7]

Total investment income

^[7],[10]

874

Investment, Identifier [Axis]: Portfolio Company Investment Type AF Contract Datascan Holdings, Inc. CE (11,273 shares) Industry Office Machinery and Equipment Rental and Leasing IAD 6/28/2016

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[12],[13]}

Investment, Identifier [Axis]: Portfolio Company Investment Type AF Contract Datascan Holdings, Inc. PE (2750 Series C shares), 14% PIK Industry Office Machinery and Equipment Rental and Leasing IAD 8/21/2025

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[13]

2,884

Investment, Identifier [Axis]: Portfolio Company Investment Type AF Contract Datascan Holdings, Inc. PE (3,061 Series A shares), 10% PIK Industry Office Machinery and Equipment Rental and Leasing IAD 8/5/2015

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[13]

9,201

Investment, Identifier [Axis]: Portfolio Company Investment Type AF Contract Datascan Holdings, Inc. Warrants (warrants to purchase 224 Series A PE shares) Industry Office Machinery and Equipment Rental and Leasing IAD 8/21/2025 Maturity 8/20/2035

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[12],[13]}

Investment, Identifier [Axis]: Portfolio Company Investment Type AI Contract Datascan Holdings, Inc. CE (11,273 shares) Industry Office Machinery and Equipment Rental and Leasing IAD 6/28/2016

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[14],[15],[16]}

Investment, Identifier [Axis]: Portfolio Company Investment Type AI Contract Datascan Holdings, Inc. PE (2750 Series C shares),14% PIK Industry Office Machinery and Equipment Rental and Leasing IAD 8/21/2025

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[15],[16]}

3,181

Investment, Identifier [Axis]: Portfolio Company Investment Type AI Contract Datascan Holdings, Inc. PE (3,061 Series A shares),10% PIK Industry Office Machinery and Equipment Rental and Leasing IAD 8/5/2015

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[15],[16]}

13,477

Investment, Identifier [Axis]: Portfolio Company Investment Type AI Contract Datascan Holdings, Inc. Warrants (warrants to purchase 1,946 shares of CE) Industry Office Machinery and Equipment Rental and Leasing IAD 8/21/2025 Maturity 8/20/2035

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[12],[13]}

Investment, Identifier [Axis]: Portfolio Company Investment Type AI Contract Datascan Holdings, Inc. Warrants (warrants to purchase 1,946 shares of common equity) Industry Office Machinery and Equipment Rental and Leasing IAD 8/21/2025 Maturity 8/20/2035

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[14],[15],[16]}

Investment, Identifier [Axis]: Portfolio Company Investment Type AI Contract Datascan Holdings, Inc. Warrants (warrants to purchase 224 Series A preferred equity shares) Industry Office Machinery and Equipment Rental and Leasing IAD 8/21/2025 Maturity 8/20/2035

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[14],[15],[16]}

202

Investment, Identifier [Axis]: Portfolio Company Investment Type AI DRS Imaging Services, LLC CE Industry Data Processing, Hosting, and Related Services IAD 3/8/2018

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[12],[17],[18]}

2,671

Fair Value

^{[3],[4],[14],[19]}

3,714

Investment, Identifier [Axis]: Portfolio Company Investment Type AI Pfanstiehl Holdings, Inc CE (400 Class A shares) Industry Pharmaceutical Preparation Manufacturing IAD 1/1/2014

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[15],[20]}

87,710

Investment, Identifier [Axis]: Portfolio Company Investment Type AI Pfanstiehl Holdings, Inc. Common (Class A shares) Equity Industry Pharmaceutical Preparation Manufacturing IAD 1/1/2014

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[18],[21]}

79,421

Investment, Identifier [Axis]: Portfolio Company Investment Type AI SSJA Bariatric Management LLC CE (52,763 Class A units) IAD 10/31/2025

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[14],[19],[20],[22]}

Investment, Identifier [Axis]: Portfolio Company Investment Type AI SSJA Bariatric Management LLC CE (Class A units) Industry Offices of Physicians, Mental Health Specialists IAD 10/31/2025

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[17],[18],[23]}

1,729

Investment, Identifier [Axis]: Portfolio Company Investment Type AI SSJA Bariatric Management LLC FLD (Delayed Draw) Industry Offices of Physicians and Mental Health Specialists IR 9.22 % SPI SOFR+ 5.25 % IAD 10/31/2025 Maturity 10/31/2028

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[20],[24]}

233

Investment, Identifier [Axis]: Portfolio Company Investment Type AI SSJA Bariatric Management LLC FLD Industry Offices of Physicians and Mental Health Specialists IR 9.22% PIK SPI SOFR+ 5.25 % IAD 12/31/2020 Maturity 10/31/2028

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[20],[22],[25]}

1,654

Investment, Identifier [Axis]: Portfolio Company Investment Type AI SSJA Bariatric Management LLC FLD Industry Offices of Physicians, Mental Health Specialists IR 9.24% PIK SAI SOFR+5.25% IAD 12/31/2020 Maturity 10/31/2028

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[18],[23]}

3,804

Investment, Identifier [Axis]: Portfolio Company Investment Type AI SSJA Bariatric Management LLC FLD Industry Offices of Physicians, Mental Health Specialists IR 9.24% SAI SOFR+5.25% IAD 10/31/2025 Maturity 10/31/2028

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[18],[26]}

235

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. 12 Interactive, LLC (D/B/A PerkSpot) FLD (Revolver) Industry Software Publishers IR n/m (18) SAI SOFR+5.75% IAD 9/5/2025 MD 9/5/2030

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[27],[28]}

(3)

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. 12 Interactive, LLC (D/B/A PerkSpot) FLD Industry Software Publishers IR 9.42% SAI SOFR+5.75% IAD 9/5/2025 MD 3/5/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[28]

1,120

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. 12 Interactive, LLC (D/B/A PerkSpot) FLD Industry Software Publishers IR 9.42% SAI SOFR+5.75% IAD 9/5/2025 MD 9/5/2030

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[28]

1,453

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. 24 Seven Holdco, LLC FLD Industry Temporary Help Services IR 10.96% SAI SOFR+7013% IAD 1/28/2022 MD 11/16/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[23]

8,361

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. AIDC IntermediateCo 2, LLC FLD Industry Computer Systems Design Services IR 8.97% SAI SOFR+5.25% IAD 7/22/2022 MD 7/22/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[23]

1,938

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[23]

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Allen Media, LLC FLD Industry Cable and Other Subscription Programming IR 9.32% SAI SOFR+5.50% IAD 7/31/2023 MD 7/22/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[23]

2,862

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Associated Spring, LLC FLD (Delayed Draw) Industry Spring Manufacturing IR 8.57% SAI SOFR+4075% IAD 12/10/2024 MD 4/4/2030

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[23],[27]}

233

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Associated Spring, LLC FLD Industry Spring Manufacturing IR 8.59% SAI SOFR+4.75% IAD 12/10/2024 MD 4/4/2030

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[23]

2,212

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Asurion, LLC FLD Industry Communication Equipment Repair and Maintenance IR 7.97% SAI SOFR+4.25% IAD 10/28/2025 MD 9/19/2030

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[23],[29]}

1,498

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Avison Young Inc. Common Equity (1,185 Class B units) Industry Nonresidential Property Managers IAD 3/12/2024

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[12],[17],[23],[30]}

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Avison Young Inc. FLD (Delayed Draw) Industry Nonresidential Property Managers IR n/m (18) SAI SOFR+8.50% IAD 12/18/2025 MD 12/12/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[27],[30]}

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Avison Young Inc. FLD Industry Nonresidential Property Managers IR 3.70% cash / 8.50% PIK SAI SOFR+8.50% IAD 12/18/2025 MD 12/12/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[30],[31]}

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Avison Young Inc. FLD Industry Nonresidential Property Managers IR 5.20% cash / 5.85% PIK SAI SOFR+7.35% IAD 12/18/2025 MD 12/12/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[23],[30],[31]}

234

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Avison Young Inc. FLD Industry Nonresidential Property Managers IR 5.49% cash / 6.50% PIK SAI SOFR+8.00% IAD 11/25/2021 MD 3/12/2029

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[23],[30],[31]}

1,452

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Avison Young Inc. FLD Industry Nonresidential Property Managers IR 5.60% cash / 6.50% PIK SAI SOFR+8.00% IAD 11/25/2021 MD 3/12/2029

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[12],[23],[30],[31],[32]}

249

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Avison Young Inc. Preferred Equity (1,715 Class A units) 12.5% PIK Industry Nonresidential Property Managers IAD 3/12/2024

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[12],[17],[23],[30]}

118

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. BayMark Health Services, Inc. FLD Industry Outpatient Mental Health and Substance Abuse Centers IR 14.43% SAI SOFR+10.50% IAD 6/10/2021 MD 6/11/2028

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[23],[32]}

248

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2]

199

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Boca Home Care Holdings, Inc. Common Equity (1,290 Class A units) Industry Services for the Elderly and Persons with Disabilities IAD 2/25/2022

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[12],[17],[18]}

768

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Boca Home Care Holdings, Inc. FLD (Revolver) Industry Services for the Elderly and Persons with Disabilities IR 10.59% SAI SOFR+6.35% IAD 2/25/2022 MD 2/25/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[18],[27]}

226

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Boca Home Care Holdings, Inc. FLD Industry Services for the Elderly and Persons with Disabilities IR 10.59% SAI SOFR+6.50% IAD 2/25/2022 MD 2/25/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[18],[23]}

9,017

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Boca Home Care Holdings, Inc. Preferred Equity (3,446 Class A Units), 12% cash / 2.0% PIK Industry Services for the Elderly and Persons with Disabilities IAD 3/3/2023

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[18]

363

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Clevertech Bidco, LLC FLD (Revolver) Industry Commodity Contracts Dealing IR 10.57% SAI SOFR+6.75% IAD 11/3/2023 MD 12/30/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[27]

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Clevertech Bidco, LLC FLD Industry Commodity Contracts Dealing IR 10.57% SAI SOFR+6.75% IAD 11/3/2023 MD 12/30/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[23]

2,971

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Constellis Holdings, LLC Common Equity (20,628 common shares) Industry Other Justice, Public Order, and Safety Activities IAD 3/27/2020

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[12]

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Envocore Holding, LLC (F/K/A LRI Holding, LLC Equity Participation Rights Industry Electrical Contractors and Other Wiring Installation Contractors IAD 12/31/2021

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[12],[13],[33]}

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Envocore Holding, LLC (F/K/A LRI Holding, LLC FLD (Revolver) Industry Electrical Contractors and Other Wiring Installation Contractors IR n/m (18) IAD 11/29/2021 MD 12/31/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[13],[27]}

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Envocore Holding, LLC (F/K/A LRI Holding, LLC FLD Industry Electrical Contractors and Other Wiring Installation Contractors IR 7.50% IAD 6/30/2017 MD 12/31/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[13]

6,167

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Envocore Holding, LLC (F/K/A LRI Holding, LLC SLD Industry Electrical Contractors and Other Wiring Installation Contractors IR 10.00% PIK IAD 6/30/2017 MD 12/31/2028

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[12],[13],[32]}

2,382

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Excelin Home Health, LLC SLD Industry Home Health Care Services IR 18.00% PIK IAD 10/25/2018 MD 10/1/2026

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[32]

4,079

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. GoTo Group (F/K/A LogMeIn, Inc.) FLD Industry Data Processing, Hosting, and Related Services IR 8.79% SAI SOFR+4.75% IAD 3/26/2021 MD 4/28/2028

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[23],[29]}

826

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[23],[29]}

503

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Heritage Grocers Group, LLC. (F/K/A Tony's Fresh Market / Cardenas Markets) FLD Industry Supermarkets and Other Grocery (except Convenience) Stores IR 1052.00% SAI SOFR+6.75% IAD 7/20/2022 MD 8/1/2029

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[23],[29]}

6,976

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Honor HN Buyer Inc. FLD (Revolver) Industry Services for the Elderly and Persons with Disabilities IR 11.50% SAI SOFR+5.75% IAD 10/15/2021 MD 10/15/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[27]

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Honor HN Buyer Inc. FLD Industry Services for the Elderly and Persons with Disabilities IR 9.57% SAI SOFR+5.75% IAD 10/15/2021 MD 10/15/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[23]

3,132

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[23]

1,981

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[23]

2,204

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Honor HN Buyer Inc. First Lien Debt (Delayed Draw) Industry Services for the Elderly and Persons with Disabilities) SAI SOFR+5.75% IAD 10/15/2024 MD 10/15/2026

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[2],[23],[27]}

(10)

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Idera Inc. SLD Industry Computer and Computer Peripheral Equipment and Software Merchant Wholesalers IR 10.75% SAI SOFR+6.75% IAD 1/27/2022 MD 3/2/2029

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2]

2,500

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Inergex Holdings, LLC FLD (Revolver) Industry Other Computer Related Services IR 10.82% SAI SOFR+7.00% IAD 10/1/2018 MD 10/1/2026

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[18]

2,344

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Inergex Holdings, LLC FLD Industry Other Computer Related Services IR 10.82% SAI SOFR+7.00% IAD 10/1/2018 MD 10/1/2026

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[18]

14,616

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Integrated Energy Services, LLC FLD (Delayed Draw) Industry Computer Systems Design Services SAI SOFR+5.50% IAD 12/18/2025 MD 12/19/2030

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[27]

(5)

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Integrated Energy Services, LLC FLD (Revolver) Industry Computer Systems Design Services SAI SOFR+5.50% IAD 12/18/2025 MD 12/19/2030

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[27]

(3)

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Integrated Energy Services, LLC FLD Industry Computer Systems Design Services IR 9.20% SAI SOFR+5.50% IAD 12/18/2025 MD 12/19/2030

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[23]

516

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. JP Intermediate B, LLC Common Equity (12,663 Units) Industry Drugs and Druggists' Sundries Merchant Wholesalers IAD 9/30/2025

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[12],[23]}

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. JP Intermediate B, LLC FLD Industry Drugs and Druggists' Sundries Merchant Wholesalers IR 10.67% SAI SOFR+7.00% IAD 10/2/2025 MD 9/30/2030

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2]

335

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. JP Intermediate B, LLC FLD Industry Drugs and Druggists' Sundries Merchant Wholesalers IR 5.17% cash / 4.00% PIK SAI SOFR+5.50% IAD 1/14/2021 MD 3/31/2031

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[31]

1,474

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Kreg LLC FLD (Revolver) Industry Other Ambulatory Health Care Services IR 10.09% SAI SOFR+6.25% IAD 12/20/2021 MD 12/20/2026

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[21],[27]}

1,300

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Kreg LLC FLD Industry Other Ambulatory Health Care Services IR 10.07% cash / 0.50% PIK SAI SOFR+6.25% IAD 12/20/2021 MD 12/20/2026

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[21],[23],[31]}

16,773

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. M2S Group Intermediate Holdings Inc. FLD Industry Plastics Packaging Film and Sheet (including Laminated) Manufacturing IR 8.59% SAI SOFR+4.75% IAD 10/28/2025 MD 8/25/2031

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[23],[29]}

1,493

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Medrina LLC FLD (Revolver) Industry Plastics Packaging Film and Sheet (including Laminated) Manufacturing SAI SOFR+6.00% IAD 10/20/2023 MD 10/20/2029

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[27]

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Medrina LLC FLD Industry All Other Outpatient Care Centers IR 10.22% SAI SOFR+6.00% IAD 10/20/2023 MD 10/20/2029

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[23]

367

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Medrina LLC FLD Industry All Other Outpatient Care Centers IR 9.69% SAI SOFR+6.00% IAD 10/20/2023 MD 10/20/2029

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[23]

2,190

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Metasource, LLC FLD Industry All Other Outpatient Care Centers IR 8% cash / 0.50% PIK SAI SOFR+6.25% IAD 5/17/2022 MD 5/17/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[23]

2,645

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt and Equity Inv. RPLF Holdings, LLC CE Industry Software Publishers IAD 1/17/2018

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[14],[19]}

2,258

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt and Equity Inv. Sentry Centers Holdings, LLC PE Industry Convention and Trade Show Organizers IAD 9/4/2020

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[14],[19]}

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt and Equity Inv. Signal Parent, Inc. FLD Industry New Single-Family Housing Construction (except For-Sale Builders) IR 7.42% SAI SOFR+3.50 % IAD 3/25/2021 Maturity 4/3/2028

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[22],[25],[34]}

397

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt and Equity Inv. Staples, Inc. FLD Industry Business to Business Electronic Markets IR 9.56% SAI SOFR+5.75 % IAD 5/23/2024 Maturity 9/4/2029

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[22],[34]}

501

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt and Equity Inv. TalentSmart Holdings, LLC CE Industry Professional and Management Development Training IAD 10/11/2019

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[14],[19],[20]}

620

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt and Equity Inv. Tolemar Acquisition, Inc. FLD Industry Motorcycle, Bicycle, and Parts Manufacturing IR 10.00% cash / 1.25% PIK SAI SOFR+6.00 % IAD 10/14/2021 Maturity 10/14/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[22]

7,815

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt and Equity Inv. Tolemar Acquisition, Inc. FLD(R) Industry Motorcycle, Bicycle, and Parts Manufacturing IR 10.00% SAI SOFR+6.00 % IAD 10/14/2021 Maturity 10/14/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[24]

519

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. 24 Seven Holdco, LLC FLD Industry Temporary Help Services IR 11.13% SAI SOFR+7.13% IAD 1/28/2022 Maturity 11/16/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[22]

8,317

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. AIDC IntermediateCo 2, LLC FLD Industry Computer Systems Design Services IR 9.40% SAI SOFR+5.50% IAD 7/22/2022 Maturity 7/22/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[22]

1,848

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[22]

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Allen Media, LLC FLD Industry Cable and Other Subscription Programming IR 9.72% SAI SOFR+5.50% IAD 3/2/2021 Maturity 2/10/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[22]

2,047

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Asurion, LLC FLD Industry Communication Equipment Repair and Maintenance IR 8.07% SAI SOFR+4.25% IAD 10/28/2025 Maturity 9/19/2030

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[22],[34]}

1,941

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Avison Young Inc. CE Industry Nonresidential Property Managers IAD 3/12/2024

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[14],[19],[22],[35]}

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Avison Young Inc. FLD Industry Nonresidential Property Managers IR 11.36% SAI SOFR+7.35% IAD 12/18/2025 Maturity 12/12/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[22],[35],[36]}

240

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[22],[35],[36]}

745

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Avison Young Inc. FLD Industry Nonresidential Property Managers IR 11.62% SAI SOFR+7.50% IAD 11/25/2021 Maturity 3/12/2029

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[22],[25],[35],[36]}

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Avison Young Inc. FLD Industry Nonresidential Property Managers IR 12.51% SAI SOFR+8.50% IAD 12/18/2025 Maturity 12/12/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[22],[35],[36]}

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[22],[35],[36]}

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[22],[35],[36]}

107

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Avison Young Inc. PE Industry Nonresidential Property Managers IAD 3/12/2024

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[14],[19],[22],[35]}

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. BayMark Health Services, Inc. CE Industry Outpatient Mental Health and Substance Abuse Centers IAD 10/1/2026

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[14],[22]}

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. BayMark Health Services, Inc. PE Industry Outpatient Mental Health and Substance Abuse Centers IAD 9/30/2026

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[14],[22]}

107

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Blackhawk Network Holdings, Inc. Industry Computer and Computer Peripheral Equipment and Software Merchant Wholesalers IR 7.40% SAI SOFR+3.50% IAD 3/25/2026 Maturity 3/12/2029

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[22],[34]}

490

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Boca Home Care Holdings, Inc. CE Industry Services for the Elderly and Persons with Disabilities IAD 2/25/2022

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[14]

734

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Boca Home Care Holdings, Inc. FLD Industry Services for the Elderly and Persons with Disabilities IR 10.85% SAI SOFR+6.50% IAD 2/25/2022 Maturity 2/25/2029

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[22]

8,800

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Boca Home Care Holdings, Inc. FLDR Industry Services for the Elderly and Persons with Disabilities IR 10.85% SAI SOFR+6.50% IAD 2/25/2022 Maturity 2/25/2029

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[24]

226

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Boca Home Care Holdings, Inc. PE Industry Services for the Elderly and Persons with Disabilities IAD 3/3/2023

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4]

368

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Clevertech Bidco, LLC FLD Industry Commodity Contracts Dealing IR 10.97% SAI SOFR+6.75% IAD 11/3/2023 Maturity 12/30/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[22]

2,876

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Clevertech Bidco, LLC FLDR Industry Commodity Contracts Dealing IR 12.75% SAI Prime+5.75% IAD 11/3/2023 Maturity 12/30/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[24]

196

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Constellis Holdings, LLC CE Industry Other Justice, Public Order, and Safety Activities IAD 3/27/2020

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[14]

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. ESP Associates, Inc. FDL Industry Other Heavy and Civil Engineering Construction IR SAI SOFR+5.25% IAD 4/14/2026 Maturity 4/14/2031

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[24]

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. ESP Associates, Inc. FDLDD Industry Other Heavy and Civil Engineering Construction IR 9.09% SAI SOFR+5.25% IAD 4/14/2026 Maturity 4/14/2031

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[22],[24]}

105

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. ESP Associates, Inc. FLD Industry Other Heavy and Civil Engineering Construction IR 9.24% SAI SOFR+5.25% IAD 4/14/2026 Maturity 4/14/2031

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[22]

346

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Excelin Home Health, LLC SLD Industry Home Health Care Services IR 18.00% PIK SAI IAD 10/25/2018 Maturity 10/1/2026

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[25]

976

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Heritage Grocers Group, LLC (F/K/A Tony's Fresh Market / Cardenas Markets) FDL Industry Supermarkets and Other Grocery IR 10.92% SAI SOFR+6.75% IAD 7/20/2022 Maturity 8/1/2029

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[22],[34]}

6,134

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Honor HN Buyer Inc. FDL Industry Services for the Elderly and Persons with Disabilities IR 0.00% SAI Prime+4.75% IAD 10/15/2021 Maturity 10/15/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[24]

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Honor HN Buyer Inc. FDL Industry Services for the Elderly and Persons with Disabilities IR 9.97% SAI SOFR+5.75% IAD 10/15/2021 Maturity 10/15/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[22]

984

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Honor HN Buyer Inc. FDL Industry Services for the Elderly and Persons with Disabilities IR 9.97% SAI SOFR+5.75% IAD 10/15/2021 Maturity 10/15/2027 One

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[22]

622

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Honor HN Buyer Inc. FDL Industry Services for the Elderly and Persons with Disabilities IR 9.97% SAI SOFR+5.75% IAD 10/15/2024 Maturity 10/15/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[22]

598

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Honor HN Buyer Inc. FDL Industry Services for the Elderly and Persons with Disabilities IR 9.97% SAI SOFR+5.75% IAD 3/31/2023 Maturity 10/15/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[22]

693

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. I Love Produce, LLC FDL Industry Spice and Extract Manufacturing IR 10.17% SAI SOFR+6.00% IAD 3/24/2026 Maturity 3/24/2031

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[22]

298

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. I Love Produce, LLC FDLDD Industry Spice and Extract Manufacturing IR n/m (18) SAI SOFR+6.00% IAD 3/24/2026 Maturity 3/24/2031

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[22],[24]}

(4)

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. I Love Produce, LLC FDLR Industry Spice and Extract Manufacturing IR 10.17% SAI SOFR+6.00% IAD 3/24/2026 Maturity 3/24/2031

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[24]

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Idera Inc. SLD Industry Computer and Computer Peripheral Equipment and Software Merchant Wholesalers IR 10.71% SAI SOFR+6.75% IAD 1/27/2022 Maturity 3/2/2029

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4]

1,878

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Inergex Holdings, LLC FLD Industry Other Computer Related Services IR 13.22% SAI SOFR+9.00% IAD 10/1/2018 Maturity 6/30/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[15],[36]}

2,813

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Inergex Holdings, LLC FLDR Industry Other Computer Related Services IR 13.22% SAI SOFR+9.00% IAD 10/1/2018 Maturity 6/30/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[15],[36]}

14,490

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Integrated Energy Services, LLC FLD Industry Computer Systems Design Services IR 9.82% SAI SOFR+5.75% IAD 12/18/2025 Maturity 12/19/2030

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[22]

510

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Integrated Energy Services, LLC FLDDD Industry Computer Systems Design Services IR n/m (18) SAI SOFR+5.75% IAD 12/18/2025 Maturity 12/19/2030

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[24]

(6)

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Integrated Energy Services, LLC FLDR Industry Computer Systems Design Services IR 9.57% SAI SOFR+5.50% IAD 12/18/2025 Maturity 12/19/2030

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[24]

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. JP Intermediate B, LLC CE Industry Drugs and Druggists' Sundries Merchant Wholesalers IR IAD 9/30/2025

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[14],[22]}

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. JP Intermediate B, LLC FLD Industry Drugs and Druggists' Sundries Merchant Wholesalers IR 11.07% SAI SOFR+7.00% IAD 10/2/2025 Maturity 9/30/2030

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4]

332

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. JP Intermediate B, LLC FLD Industry Drugs and Druggists' Sundries Merchant Wholesalers IR 9.57% SAI SOFR+5.50% IAD 1/14/2021 Maturity 3/31/2031

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[22],[36]}

1,060

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. M2S Group Intermediate Holdings Inc. FLD Industry Plastics Packaging Film and Sheet (including Laminated) Manufacturing IR 8.57% SAI SOFR+4.75% IAD 10/28/2025 Maturity 8/25/2031

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[22],[34]}

1,962

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. MP Design, LLC FLD Industry Architectural Services IR 9.32% SAI SOFR+5.25% IAD 6/9/2026 Maturity 6/9/2031

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[22]

973

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. MP Design, LLC FLDR Industry Architectural Services IR n/m (18) SAI SOFR+5.00% IAD 6/9/2026 Maturity 6/9/2031

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[24]

(3)

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Medrina LLC FLD Industry All Other Outpatient Care Centers IR 9.66% SAI SOFR+6.00% IAD 10/20/2023 Maturity 10/20/2029

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[22]

2,156

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Medrina LLC FLD Industry All Other Outpatient Care Centers IR 9.84% SAI SOFR+6.00% IAD 10/20/2023 Maturity 10/20/2029

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[22]

362

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Medrina LLC FLDR Industry All Other Outpatient Care Centers IR n/m (18) SAI SOFR+6.75% IAD 10/20/2023 Maturity 10/20/2029

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[24]

(4)

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Metasource, LLC FLD Industry All Other Business Support Services IR 11.09% SAI SOFR+6.00% IAD 5/17/2022 Maturity 5/17/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[22],[36]}

2,607

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Neptune BidCo US Inc. FLD Industry Marketing Research and Public Opinion Polling IR 8.86% SAI SOFR+5.25% IAD 8/20/2026 Maturity 2/3/2033

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[22],[36]}

1,993

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. One GI LLC FLD (R) Industry Offices of Other Holding Companies IR 10.75% SAI SOFR+ 6.75% IAD 12/13/2021 Maturity 10/31/2026

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[25],[36]}

1,228

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. One GI LLC FLD (Revolver) Industry Offices of Other Holding Companies IR 10.57% SAI SOFR+6.75% IAD Date 12/13/2021 Maturity 12/22/2025

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2]

1,313

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. One GI LLC FLD Industry Offices of Other Holding Companies IR 10.57% SAI SOFR+6.75% IAD 12/13/2021 Maturity 12/22/2025

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[23]

6,618

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[23]

3,488

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. One GI LLC FLD Industry Offices of Other Holding Companies IR 10.75% SAI SOFR+ 6.75% IAD 12/13/2021 Maturity 10/31/2026

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[22],[25],[36]}

6,191

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[22],[25],[36]}

3,263

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. PM Acquisition LLC CE (499 units) Industry All Other General Merchandise Stores IAD 9/30/2017

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4]

1,414

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. PSB Group, LLC FLD (R) Industry Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) SAI SOFR+ 6.50% IAD 4/17/2025 Maturity 4/17/2030

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[24]

(0)

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. PSB Group, LLC FLD Industry Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) IR 10.40% SAI SOFR+ 6.50% IAD 4/17/2025 Maturity 4/17/2030

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[22]

7,900

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[18],[23]}

7,879

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. PSB Group, LLC First Lien Debt (Revolver) Industry Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) IR 10.47% SAI SOFR+6.75% IAD 4/17/2025 Maturity 4/17/2030

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[18],[27]}

405

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Petco Animal Supplies FLD Industry Pet and Pet Supplies Stores IR 8.32% SAI SOFR+ 4.25% IAD 9/11/2026 Maturity 2/3/2031

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[22],[34]}

1,838

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Planet Bingo, LLC (F/K/A 3rd Rock Gaming Holdings, LLC) FLD Industry Software Publishers IR 6.50% IAD 3/13/2018 Maturity 12/31/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[32]

7,242

Fair Value

^[3],[4],[25]

8,574

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Redstone Holdco 2 LP (F/K/A RSA Security) FLD Industry Computer and Computer Peripheral Equipment and Software Merchant Wholesalers IR 8.85% SAI SOFR+4.75% IAD 4/16/2021 Maturity 4/27/2028

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[23]

1,289

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Redstone Holdco 2 LP FLD Industry Computer and Computer Peripheral Equipment and Software Merchant Wholesalers IR 8.57% SAI SOFR+4.75% IAD 4/16/2021 Maturity 12/31/2030

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[22]

215

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Redstone Holdco 2 LP FLD Industry Computer and Computer Peripheral Equipment and Software Merchant Wholesalers IR 9.32% SAI SOFR+5.50% IAD 4/16/2021 Maturity 12/31/2030

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[22]

812

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. RideNow Group, Inc. (F/K/A RumbleOn, Inc. FLD Industry Other Industrial Machinery Manufacturing IR 10.85% cash / 1.00% PIK SAI SOFR+7.75% IAD 8/31/2021 Maturity 9/30/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[23],[30],[31]}

2,299

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[23],[30],[31]}

694

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. RideNow Group, Inc. (F/K/A RumbleOn, Inc. Warrants (warrants to purchase up to in common stock Industry Other Industrial Machinery Manufacturing IAD 8/31/2021 Maturity 8/10/2030

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[12],[23],[30]}

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. RideNow Group, Inc. (F/K/A. RumbleOn, Inc.) Warrants (warrants to purchase up to $73 in common stock) IAD 8/31/2021 Maturity 8/10/2030

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[14],[22],[35]}

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. SS Acquisition, LLC FLD (Revolver) Industry Sports and Recreation Instruction IR 9.42% SAI SOFR+5.75% IAD 12/20/2024 Maturity 12/20/2029

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[18],[27]}

500

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. SS Acquisition, LLC FLD Industry Sports and Recreation Instruction IR 9.42% SAI SOFR+5.75% IAD 12/20/2024 Maturity 12/20/2029

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[18],[23]}

16,828

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Signal Parent, Inc FLD Industry New Single-Family Housing Construction (except For-Sale Builders) IR 7.44% SAI SOFR+3.50% IAD 3/25/2021 Maturity 4/3/2028

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[23],[29]}

1,096

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Staples, Inc. FLD Industry Business to Business Electronic Markets IR 9.60% SAI SOFR+5.75% IAD 5/23/2024 Maturity 9/4/2029

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[23],[29]}

2,418

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. TalentSmart Holdings, LLC Common Equity (1,595,238 Class A shares) Professional and Management Development Training IAD 10/11/2019

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[12],[17],[18]}

695

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Tolemar Acquisition, Inc. FLD (Revolver) Industry Motorcycle, Bicycle, and Parts Manufacturing IR 9.82% SAI SOFR+6.00% IAD 10/14/2021 Maturity 10/14/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[27]

145

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Tolemar Acquisition, Inc. FLD Industry Motorcycle, Bicycle, and Parts Manufacturing IR 9.82% cash / 1.25% PIK SAI SOFR+6.00% IAD 10/14/2021 Maturity 10/14/2027

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2],[23]

10,500

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. United Biologics Holdings, LLC Preferred Equity (151,786 units) Industry Medical Laboratories IAD 4/16/2013

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[12],[17]}

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Wellful Inc. (F/K/A KNS Acquisition Corp.) FLD Industry Electronic Shopping and Mail-Order Houses IR 8.33% cash / 1.75% PIK SAI SOFR+6.25% IAD 4/16/2021 Maturity 10/19/2030

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[23],[31]}

3,738

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities Apex Credit CLO 2020 Ltd. SN IR 9.87% IAD 11/16/2020 Maturity 4/20/2035

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[37],[38]}

5,653

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities Apex Credit CLO 2021 Ltd. SN IR 6.51% IAD 5/28/2021 Maturity 7/18/2034

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[37],[38]}

3,170

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities Apex Credit CLO 2022-1 Ltd. SN IR 20.68% IAD 4/28/2022 Maturity 10/22/2038

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[37],[38]}

7,929

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities Battalion CLO XI Ltd. MD - Class E IR 10.98% SAI SOFR+6.85% IAD 4/25/2022 Maturity 4/24/2034

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[37],[38]}

5,466

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities BlueMountain CLO XXXV Ltd. SN IR 16.45% IAD 10/30/2024 Maturity 10/22/2037

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[37],[38]}

4,644

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities Brightwood Capital MM CLO 2023-1, Ltd. SN IR 24.50% IAD 9/28/2023 Maturity 10/15/2035

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[37],[38]}

4,493

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities CBAMR 2017-1, Ltd. SN IR 21.02% IAD 8/12/2025 Maturity 1/20/2038

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[37],[38]}

1,647

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities Canyon CLO 2019-1, Ltd SN IR 21.30% IAD 8/22/2024 Maturity 7/15/2037

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[37],[38]}

8,539

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities ICG US CLO 2021-3, Ltd. SN IR 26.57% IAD 8/8/2024 Maturity 10/20/2034

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[37],[38]}

7,289

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities LCM 42 Ltd. SN IR 18.54% IAD 12/19/2024 Maturity 1/15/2038

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[37],[38]}

2,727

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities Madison Park Funding XXIX, Ltd. SN IR 17.42% IAD 12/22/2020 Maturity 3/25/2038

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[37],[38]}

3,697

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities Trinitas CLO VIII, Ltd. SN IR 0.00% IAD 3/4/2021 Maturity 7/20/2117

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[12],[26],[37],[38]}

163

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities Venture 45 CLO, Limited MD - Class E IR 11.58% SAI SOFR+7.70% IAD 4/18/2022 Maturity 7/20/2035

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2]

2,607

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities Voya CLO 2024-7, Ltd. SN IR 16.31% IAD 1/7/2025 Maturity 1/20/2038

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[37],[38]}

3,581

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Structured Finance Securities Apex Credit CLO 2020 Ltd SN IR 4.34 % IAD 11/16/2020 Maturity 4/20/2035

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[35],[39],[40]}

2,438

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Structured Finance Securities Apex Credit CLO 2021 Ltd SN IR 0.00% IAD 5/28/2021 Maturity 7/18/2034

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[35],[39],[40]}

1,004

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Structured Finance Securities BlueMountain CLO XXXV Ltd. SN IR 14.01 % IAD 10/30/2024 Maturity 10/22/2037

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[35],[39],[40]}

3,750

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Structured Finance Securities Brightwood Capital MM CLO 2023-1, Ltd. SN IR 26.30 % IAD 9/28/2023 Maturity 10/15/2035

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[35],[39],[40]}

4,300

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Structured Finance Securities Canyon CLO 2019-1, Ltd. SN IR 15.64% IAD 8/22/2024 Maturity 7/15/2037

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[35],[39],[40]}

6,902

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Structured Finance Securities ICG US CLO 2021-3, Ltd. SN IR 14.76% IAD 8/8/2024 Maturity 10/20/2034

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[35],[39],[40]}

4,935

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Structured Finance Securities LCM 42 Ltd SN IR 15.94% IAD 12/19/2024 Maturity 1/15/2038

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[35],[39],[40]}

2,125

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Structured Finance Securities Trinitas CLO VIII, Ltd. SN IR 0.00 % IAD 3/4/2021 Maturity 7/20/2117

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[3],[4],[14],[35],[39],[40],[41]}

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Structured Finance Securities Venture 45 CLO, Limited MD - Class E IR 11.43 % SAI SOFR+7.70 % IAD 4/18/2022 Maturity 7/20/2035

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[3],[4],[35]

1,676

Investment, Identifier [Axis]: Portfolio Company Investment Type Non-control/Non-affiliate Investments Debt and Equity Investments PM Acquisition LLC Common Equity (499 units) Industry All Other General Merchandise Stores Initial Acquisition Date 9/30/2017

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[1],[2]

1,181

Investment, Identifier [Axis]: Portfolio Company Investment Type Non-control/Non-affiliate Investments Debt and Equity Investments RPLF Holdings, LLC Common Equity (345,339 Class A units) Industry Software Publishers Initial Acquisition Date 1/17/2018

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[12],[17]}

1,462

Investment, Identifier [Axis]: Portfolio Company Investment Type Non-control/Non-affiliate Investments Sentry Centers Holdings, LLC Preferred Equity (1,603 Series B units) Industry Convention and Trade Show Organizer Initial Acquisition Date 9/4/2020

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^{[1],[2],[12],[17]}

Investment, Identifier [Axis]: SSJA Bariatric Management LLC, Common Equity 1

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[5],[6],[7]

1,729

Gross Additions

^[6],[7],[8]

Gross Reductions

^[6],[7],[9]

(1,729)

Fair Value

^[5],[6],[7]

Net realized gain (loss) on investments

^[6],[7]

Net Change in Unrealized Appreciation/ (Depreciation)

^[6],[7]

(1,729)

Interest

^[6],[7]

Dividends

^[6],[7]

Fees

^[6],[7]

Total investment income

^[6],[7],[10]

Investment, Identifier [Axis]: SSJA Bariatric Management LLC, First Lien Debt 1

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[5],[7]

235

Gross Additions

^[7],[8]

Gross Reductions

^[7],[9]

(3)

Fair Value

^[5],[7]

233

Net realized gain (loss) on investments

^[7]

Net Change in Unrealized Appreciation/ (Depreciation)

^[7]

(3)

Interest

^[7]

Dividends

^[7]

Fees

^[7]

Total investment income

^[7],[10]

Investment, Identifier [Axis]: SSJA Bariatric Management LLC, First Lien Debt 2

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[5],[7]

3,804

Gross Additions

^[7],[8]

239

Gross Reductions

^[7],[9]

(2,389)

Fair Value

^[5],[7]

1,654

Net realized gain (loss) on investments

^[7]

Net Change in Unrealized Appreciation/ (Depreciation)

^[7]

(2,389)

Interest

^[7]

179

Dividends

^[7]

Fees

^[7]

Total investment income

^[7],[10]

179

Investment, Affiliated Issuer [Member]

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[5],[7]

99,945

Gross Additions

^[7],[8]

14,347

Gross Reductions

^[7],[9]

(4,121)

Fair Value

^[5],[7]

110,171

Net realized gain (loss) on investments

^[7]

Net Change in Unrealized Appreciation/ (Depreciation)

^[7]

8,711

Interest

^[7]

196

Dividends

^[7]

2,149

Fees

^[7]

Total investment income

^[7],[10]

2,346

Investment, Affiliated Issuer [Member] | Contract Datascan Holdings, Inc.

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[5],[7]

12,085

Gross Additions

^[7],[8]

4,775

Gross Reductions

^[7],[9]

Fair Value

^[5],[7]

16,860

Net realized gain (loss) on investments

^[7]

Net Change in Unrealized Appreciation/ (Depreciation)

^[7]

3,500

Interest

^[7]

Dividends

^[7]

1,275

Fees

^[7]

Total investment income

^[7],[10]

1,275

Investment, Affiliated Issuer [Member] | SSJA Bariatric Management LLC

Investments in and Advances to Affiliates, at Fair Value [Roll Forward]

Fair Value

^[5],[7]

$ 5,768

5,768

Gross Additions

^[7],[8]

240

Gross Reductions

^[7],[9]

(4,121)

Fair Value

^[5],[7]

$ 1,887

1,887

Net realized gain (loss) on investments

^[7]

Net Change in Unrealized Appreciation/ (Depreciation)

^[7]

(4,121)

Interest

^[7]

196

Dividends

^[7]

Fees

^[7]

Total investment income

^[7],[10]

$ 197

[1]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[2]	Unless otherwise noted in footnote 14, fair value was determined using significant unobservable inputs for all of the Company’s investments and are considered Level 3 under GAAP. See Note 5 for further details.
[3]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[4]	Unless otherwise noted in footnote 14, fair value was determined using significant unobservable inputs for all of the Company’s investments and are considered Level 3 under GAAP. See Note 5 for further details.
[5]	Fair value was determined using significant unobservable inputs. See Note 5 for further details.
[6]	Non-income producing. The Company has not recognized income on the security during the prior twelve-month period preceding the period-end date.
[7]	Principal balance, interest rate and maturity of debt investments, and ownership detail for equity investments are presented in the consolidated schedule of investments. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[8]	Gross additions include increases in cost basis of investments resulting from a new portfolio investment, PIK interest, fees and dividends, accretion of Net Loan Fees, and net increases in unrealized appreciation or decreases in net unrealized depreciation.
[9]	Gross reductions include decreases in the cost basis of investments resulting from principal repayments and sales, and net decreases in net unrealized appreciation or net increases in net unrealized depreciation.
[10]	Represents the total amount of interest, fees or dividends included in income for the nine months ended September 30, 2026.
[11]	Dividends recognized as income include PIK dividends contractually earned but not declared.
[12]	Non-income producing.
[13]	The Company holds at least one seat on the portfolio company’s board of directors.
[14]	Non-income producing. The Company has not recognized income on the security during the prior twelve-month period preceding the period-end date.
[15]	Portfolio company represents greater than 5% of total assets as of September 30, 2026.
[16]	The Company holds at least one seat on the portfolio company’s board of directors.
[17]	All or a portion of investment held by a wholly owned subsidiary subject to income tax.
[18]	The Company has an observer seat on the portfolio company’s board of directors.
[19]	All or a portion of investment held by a wholly owned subsidiary subject to income tax.
[20]	The Company has an observer seat on the portfolio company’s board of directors.
[21]	Portfolio company at fair value represents greater than 5% of total assets at December 31, 2025.
[22]	Investments (or a portion thereof) held by OFSCC-FS. These assets are pledged as collateral of the Natixis Facility and cannot be pledged under any debt obligation of the Parent.
[23]	Investments (or a portion thereof) held by OFSCC-FS. These assets are pledged as collateral of the BNP Facility and cannot be pledged under any other debt obligation of the Company.
[24]	Subject to unfunded commitments. The Company considers undrawn amounts in the determination of fair value on revolving lines of credit and delayed draw term loans. See Note 6.
[25]	Investment was on non-accrual status as of September 30, 2026. See Note 4 for further details.
[26]	As of December 31, 2025, the effective accretable yield was estimated to be 0%, as the aggregate amount of projected distributions, including projected distributions related to liquidation of the underlying portfolio upon the security's anticipated optional redemption, was less than current amortized cost. Projected distributions are periodically monitored and re-evaluated. All actual distributions were recognized as reductions to amortized cost until such time, if and when occurring, a future aggregate amount of then-projected distributions exceeds the security's then-current amortized cost.
[27]	Subject to unfunded commitments. The Company considers undrawn amounts in the determination of fair value on revolving lines of credit and delayed draw term loans. See Note 6.
[28]	The Company has the right to receive certain information provided to the board of directors.
[29]	Fair value was determined by reference to observable inputs other than quoted prices in active markets and are considered Level 2 under GAAP. See Note 5 for further details.
[30]	Non-qualifying assets under Section 55(a) of the 1940 Act. Qualifying assets as defined in Section 55 of the 1940 Act must represent at least 70% of the Company's assets immediately following the acquisition of any additional non-qualifying assets. As of December 31, 2025, approximately 81% of the Company's assets were qualifying assets.
[31]	The interest rate on these investments contains a PIK provision, whereby the issuer has the option to make interest payments in cash or with the issuance of additional securities as payment of the entire PIK provision. The interest rate in the schedule represents the current interest rate in effect for these investments. The following table provides additional details on these PIK investments, including the maximum annual PIK interest rate allowed as of December 31, 2025:
[32]	Investment was on non-accrual status as of December 31, 2025, meaning the Company suspended recognition of all or a portion of income on the investment. See Note 4 for further details.
[33]	Equity participation rights issued by unaffiliated third party fully covered with underlying positions in the portfolio company.
[34]	Fair value was determined by reference to observable inputs other than quoted prices in active markets and are considered Level 2 under GAAP. See Note 5 for further details.
[35]	Non-qualifying assets under Section 55(a) of the 1940 Act. Qualifying assets as defined in Section 55 of the 1940 Act must represent at least 70% of the Company’s assets immediately following the acquisition of any additional non-qualifying assets. As of September 30, 2026, approximately 89% of the Company's assets were qualifying assets.
[36]	The interest rate on these investments contains a PIK provision, whereby the issuer has the option to make interest payments in cash or with the issuance of additional securities as payment of the entire PIK provision. The interest rate in the schedule represents the current interest rate in effect for these investments. The following table provides additional details on these PIK investments, including the maximum annual PIK interest rate allowed as of September 30, 2026:
[37]	Amortized cost reflects accretion of effective yield less any cash distributions received or entitled to be received from CLO subordinated note investments. CLO subordinated note positions are entitled to recurring distributions, which are generally equal to the residual cash flow of payments received on underlying securities less contractual payments to debt holders and fund expenses.
[38]	The rate disclosed on subordinated note investments is the estimated effective yield, generally established at purchase, and reevaluated upon the receipt of the initial distribution and each subsequent quarter thereafter. The estimated effective yield is based upon projected amounts and timing of future distributions and the projected amounts and timing of terminal principal payments at the time of estimation. The estimated effective yield and investment cost may ultimately not be realized. Projected cash flows, including the amounts and timing of terminal principal payments, which generally are projected to occur prior to the contractual maturity date, were utilized in deriving the effective yield of the investments.
[39]	Amortized cost reflects accretion of effective yield less any cash distributions received or entitled to be received from CLO subordinated note investments. CLO subordinated note positions are entitled to recurring distributions, which are generally equal to the residual cash flow of payments received on underlying securities less contractual payments to debt holders and fund expenses.
[40]	The rate disclosed on subordinated note investments is the estimated effective yield, generally established at purchase, and reevaluated upon the receipt of the initial distribution and each subsequent quarter thereafter. The estimated effective yield is based upon projected amounts and timing of future distributions and the projected amounts and timing of terminal principal payments at the time of estimation. The estimated effective yield and investment cost may ultimately not be realized. Projected cash flows, including the amounts and timing of terminal principal payments, which generally are projected to occur prior to the contractual maturity date, were utilized in deriving the effective yield of the investments.
[41]	As of September 30, 2026, the effective accretable yield was estimated to be 0%, as the aggregate amount of projected distributions, including projected distributions related to liquidation of the underlying portfolio upon the security’s anticipated optional redemption, was less than current amortized cost. Projected distributions are periodically monitored and re-evaluated. All actual distributions were recognized as reductions to amortized cost until such time, if and when occurring, a future aggregate amount of then-projected distributions exceeds the security’s then-current amortized cost.

Financial Highlights (Tables)

9 Months Ended

Sep. 30, 2026

Investment Company [Abstract]

Schedule of Financial Highlights

The following is a schedule of financial highlights for the three and nine months ended September 30, 2026 and 2025:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2026			2025			2026			2025
Per share operating performance:
Net asset value per share at beginning of period	$	8.41		$	10.91		$	9.19		$	12.85
Net investment income(1)		0.05			0.22			0.31			0.72
Net realized loss on investments, net of taxes(1)		(0.58	)		(0.35	)		(1.88	)		(0.85	)
Net unrealized appreciation (depreciation) on investments, net of deferred taxes(1)		(0.31	)		(0.23	)		0.30			(1.49	)
Loss on extinguishment of debt(1)		(0.02	)		(0.04	)		(0.03	)		(0.04	)
Total net loss from operations		(0.86	)		(0.40	)		(1.30	)		(1.66	)
Distributions declared		(0.17	)		(0.34	)		(0.51	)		(1.02	)
Net asset value per share at end of period	$	7.38		$	10.17		$	7.38		$	10.17

Per share market value, end of period	$	3.63		$	7.69		$	3.63		$	7.69
Total return based on market value(2)(3)		7.3	%		(4.9	)%		(12.5	)%		7.2	%
Total return based on net asset value(3)(4)		(8.0	)%		(2.7	)%		(7.7	)%		(11.0	)%
Shares outstanding at end of period		13,398,078			13,398,078			13,398,078			13,398,078
Weighted average shares outstanding		13,398,078			13,398,078			13,398,078			13,398,078
Ratio/Supplemental Data (dollar amounts in thousands)
Average net asset value(5)	$	105,721		$	141,255		$	110,987		$	153,780
Net asset value at end of period	$	98,829		$	136,314		$	98,829		$	136,314
Net investment income	$	719		$	2,940		$	4,191		$	9,688
Ratio of total expenses, net to average net assets(6)(9)		19.7	%		21.6	%		21.0	%		18.8	%
Ratio of total expenses, net and loss on extinguishment of debt to average net assets(6)(8)(10)		20.0	%		21.9	%		21.4	%		19.1	%
Ratio of net investment income to average net assets(6)(11)		2.7	%		8.3	%		5.0	%		8.4	%
Ratio of loss on extinguishment of debt to average net assets(3)		0.3	%		0.3	%		0.4	%		0.3	%
Portfolio turnover(7)		2.8	%		4.8	%		4.0	%		10.5	%

(1)

Calculated on the average share method.

(2)

Calculated as ending market value less beginning market value, adjusted for distributions reinvested at prices based on the Company’s DRIP for the respective distributions.

(3)

Not annualized.

(4)

Calculated as ending net asset value less beginning net asset value, adjusted for distributions reinvested at prices based on the Company’s DRIP for the respective distributions.

(5)

Based on the average of the net asset value at the beginning and end of the indicated period and, if applicable, the preceding calendar quarters.

(6)

Annualized.

(7)

(8)

Calculated as total expenses (annualized) plus the loss on extinguishment of debt, divided by average net assets.

(9)

Ratio of total expenses before the base management fee waiver to average net assets was 20.4% and 21.7% for the three and nine months ended September 30, 2026.

(10)

Ratio of total expenses before the base management fee waiver plus the loss on extinguishment of debt to average net assets was 20.7% and 22.1% for the three and nine months ended September 30, 2026.

(11)

Ratio of net investment income before the base management fee waiver to average net assets was 2.1% and 4.3% for the three and nine months ended September 30, 2026.

Borrowings - Banc of California Credit Facility Narrative (Details) - Banc of California Credit Facility - USD ($) $ in Thousands		9 Months Ended
	Mar. 07, 2018	Sep. 30, 2026	Mar. 31, 2026	Dec. 31, 2025
Line of Credit Facility [Line Items]
Line of Credit Description		Company amended the Banc of California Credit Facility to, among other things: (i) reduce the minimum tangible net asset value covenant from $100,000 to $75,000; (ii) reduce the covenant requiring minimum quarterly net investment income after management/incentive fees from $2,000 to $1,000 for each of the quarters ending March 31, 2026, June 30, 2026 and September 30, 2026, after which the minimum quarterly net investment income after management/incentive fees covenant shall return to $2,000; and (iii) decrease the Company’s maximum commitment amount from $25,000 to $15,000. In connection with the maximum commitment reduction from $25,000 to $15,000, the Company recognized a loss on extinguishment of debt of $41 related to the acceleration of deferred financing costs.On September 30, 2026, Banc of California provided a covenant waiver for the quarter ended September 30, 2026 related to the requirement of a $1,000 minimum quarterly net investment income, after management and incentive fees.
Deferred debt issuance costs			$ 41
Line of Credit
Line of Credit Facility [Line Items]
Borrowing capacity		$ 0		$ 4,500
Availability		$ 15,000
Commitment fee		7.25%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Availability		$ 15,000
Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	0.25%
Interest rate floor	5.00%
Line of credit facility, commitment fee	0.50%

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Capital Transactions - DRIP Participation (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025
Dividends Payable [Line Items]
Number of Shares Purchased (in shares)	17,118	29,652
Average Value Per Share (in usd per share)	$ 3.62	$ 8.48
Stock Repurchased During Period Value Dividend Reinvestment Plan	$ 62	$ 251
O 2026 Q1 Aggregate Dividends [Member]
Dividends Payable [Line Items]
Number of Shares Purchased (in shares)	5,271
Average Value Per Share (in usd per share)	$ 3.39
Stock Repurchased During Period Value Dividend Reinvestment Plan	$ 18
O 2026 Q2 Aggregate Dividends [Member]
Dividends Payable [Line Items]
Number of Shares Purchased (in shares)	7,462
Average Value Per Share (in usd per share)	$ 3.82
Stock Repurchased During Period Value Dividend Reinvestment Plan	$ 28
O 2026 Q3 Aggregate Dividends [Member]
Dividends Payable [Line Items]
Number of Shares Purchased (in shares)	4,385
Average Value Per Share (in usd per share)	$ 3.55
Stock Repurchased During Period Value Dividend Reinvestment Plan	$ 16
O 2025 Q1 Aggregate Dividends [Member]
Dividends Payable [Line Items]
Number of Shares Purchased (in shares)		8,570
Average Value Per Share (in usd per share)		$ 9.35
Stock Repurchased During Period Value Dividend Reinvestment Plan		$ 80
O 2025 Q2 Aggregate Dividends [Member]
Dividends Payable [Line Items]
Number of Shares Purchased (in shares)		9,509
Average Value Per Share (in usd per share)		$ 8.61
Stock Repurchased During Period Value Dividend Reinvestment Plan		$ 82
O 2025 Q3 Aggregate Dividends [Member]
Dividends Payable [Line Items]
Number of Shares Purchased (in shares)		11,573
Average Value Per Share (in usd per share)		$ 7.72
Stock Repurchased During Period Value Dividend Reinvestment Plan		$ 89

Consolidated Statements of Assets and Liabilities (Parenthetical) - USD ($)
$ in Thousands

Sep. 30, 2026

Dec. 31, 2025

Investments, amortized cost

$ 234,170

^[1]

$ 328,400

^[2]

Preferred stock, par value (in usd per share)

$ 0.01

Preferred stock, authorized (in shares)

2,000,000

Preferred stock, issued (in shares)

Preferred stock, outstanding (in shares)

Common stock, par value (in usd per share)

$ 0.01

Common stock, authorized (in shares)

100,000,000

Common stock, issued (in shares)

13,398,078

Common stock, outstanding (in shares)

13,398,078

Unsecured Notes

Unamortized Debt Issuance Costs

$ 1,752

$ 2,812

Non-control/non-affiliate investments

Investments, amortized cost

205,003

^[1]

300,748

^[2]

Affiliate investments

Investments, amortized cost

$ 29,167

^[1]

$ 27,652

^[2]

[1]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[2]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.

Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2026

Commitments and Contingencies Disclosure [Abstract]

Schedule of Commitments to Fund Investments

The following table shows the Company’s outstanding commitments to fund investments to portfolio companies as of September 30, 2026:


Portfolio Company	Investment Type	Commitment
Boca Home Care Holdings, Inc.	First Lien Debt (Revolver)	$	1,065
Clevertech Bidco, LLC	First Lien Debt (Revolver)		76
ESP Associates, Inc.	First Lien Debt (Revolver)		33
ESP Associates, Inc.	First Lien Debt (Delayed Draw)		9
Honor HN Buyer Inc.	First Lien Debt (Revolver)		119
I Love Produce, LLC	First Lien Debt (Revolver)		20
I Love Produce, LLC	First Lien Debt (Delayed Draw)		152
Integrated Energy Services, LLC	First Lien Debt (Delayed Draw)		300
Integrated Energy Services, LLC	First Lien Debt (Revolver)		105
Medrina LLC	First Lien Debt (Revolver)		319
MP Design, LLC	First Lien Debt (Revolver)		250
PSB Group, LLC	First Lien Debt (Revolver)		1,059
SSJA Bariatric Management LLC	First Lien Debt (Delayed Draw)		157
Tolemar Acquisition, Inc.	First Lien Debt (Revolver)		309
Total		$	3,973

The following table shows the Company’s outstanding commitments to fund investments to portfolio companies as of December 31, 2025:


Portfolio Company	Investment Type	Commitment
12 Interactive, LLC (D/B/A PerkSpot)	First Lien Debt (Revolver)	$	660
Associated Spring, LLC	First Lien Debt (Delayed Draw)		1,483
Avison Young Inc.	First Lien Debt (Delayed Draw)		34
Boca Home Care Holdings, Inc.	First Lien Debt (Revolver)		1,065
Clevertech Bidco, LLC	First Lien Debt (Revolver)		182
Envocore Holding, LLC (F/K/A LRI Holding, LLC)	First Lien Debt (Revolver)		2,569
Honor HN Buyer Inc.	First Lien Debt (Revolver)		328
Honor HN Buyer Inc.	First Lien Debt (Delayed Draw)		3,062
Integrated Energy Services, LLC	First Lien Debt (Delayed Draw)		300
Integrated Energy Services, LLC	First Lien Debt (Revolver)		150
Medrina LLC	First Lien Debt (Revolver)		319
PSB Group, LLC	First Lien Debt (Revolver)		653
SS Acquisition, LLC	First Lien Debt (Revolver)		1,286
SSJA Bariatric Management LLC	First Lien Debt (Delayed Draw)		157
Tolemar Acquisition, Inc.	First Lien Debt (Revolver)		978
Total		$	13,226

Borrowings - Banc of California Credit Facility Interest Expense and Average Outstanding Balance (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2026

Sep. 30, 2025

Sep. 30, 2026

Sep. 30, 2025

Line of Credit Facility [Line Items]

Amortization of debt issuance costs

$ 1,078

$ 1,172

Cash paid for interest expense

10,232

11,981

Revolving Credit Facility | Banc of California Credit Facility

Line of Credit Facility [Line Items]

Stated interest expense

$ 1

$ 0

228

Amortization of debt issuance costs

Total interest and debt financing costs

295

175

Cash paid for interest expense

$ 235

Effective interest rate

^[1]

9.15%

Average outstanding balance

$ 65

$ 0

$ 4,311

$ 1,364

[1]	Not meaningful due to a minimal average outstanding balance relative to the size of the total commitment and the amount of commitment fees incurred during the periods.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Fair Value of Financial Instruments

9 Months Ended

Sep. 30, 2026

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Note 5. Fair Value of Financial Instruments

The Company’s investments are carried at fair value and determined in accordance with ASC 820 and a documented valuation policy that is applied in a consistent manner. Pursuant to Rule 2a-5 of the 1940 Act (“Rule 2a-5”), the Board designated OFS Advisor as the valuation designee to perform fair value determinations relating to the Company’s investments, and the Board maintains oversight of OFS Advisor in its capacity as valuation designee, as prescribed in Rule 2a-5. The Company engages third-party valuation firms to provide assistance to OFS Advisor in determining the fair value for a majority of its investments.

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair values are determined with models or other valuation techniques, valuation inputs, and assumptions that market participants would use in pricing an asset or liability. Valuation inputs are organized in a hierarchy that gives the highest priority to prices for identical assets or liabilities quoted in active markets (Level 1) and the lowest priority to fair values based on unobservable inputs (Level 3). The three levels of inputs in the fair value hierarchy are described below:

Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity can access at the measurement date.

Level 2: Inputs other than quoted prices within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3: Unobservable inputs for the asset or liability, and situations where there is little, if any, market activity for the asset or liability at the measurement date.

The inputs into the determination of fair value are based upon the best information under the circumstances and may require management to exercise significant judgment or estimation. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. The Company generally categorizes its investment portfolio into Level 3, and to a lesser extent Level 2, of the hierarchy.

The Company assesses the levels of the investments at each measurement date, and transfers between levels are recognized on the measurement date. The following table presents the Company’s transfers of Level 2 and Level 3 debt investments for the three and nine months ended September 30, 2026 and 2025:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
Transfers from Level 2 to Level 3	$	—	$	2,519	$	—	$	—
Transfers from Level 3 to Level 2		—		3,954		—		3,954

Transfers between levels occur when the availability of reliable Indicative Prices changes during the period. The Company classifies loan investments as Level 2 when sufficient Indicative Prices are available, and the depth of the market is sufficient, in management’s judgment, to transact at those prices in amounts approximating the Company’s investment position at the measurement date.

Due to the inherent uncertainty of determining the fair value of Level 3 investments, including the use of significant unobservable inputs, the fair value of the investments may differ significantly from the values that would have been used had a ready market or observable inputs existed for such investments and may differ materially from the values that may ultimately be received or settled. Further, such investments are generally subject to legal and other restrictions, or otherwise are less liquid than publicly traded instruments. If the Company were required to liquidate a portfolio investment in a forced or liquidation sale, the Company may realize significantly less than the value at which such investment had previously been recorded and incur a realized capital loss. The Company’s investments are subject to market risk as a result of economic and political developments, including impacts from interest rate changes and elevated inflation rates, the ongoing war between Russia and Ukraine, the escalated armed conflict and heightened regional tensions in the Middle East, activity in South America, instability in the U.S. and international banking systems, the agenda of the U.S. presidential administration, including the impact of tariff enactment and tax reductions, trade disputes with other countries, the risk of recession or the impact of the prolonged shutdown of U.S. government services, and related market volatility. Market risk is directly impacted by the volatility and liquidity in the markets in which certain investments are traded and can affect the fair value of the Company’s investments. The Company’s investments are also subject to interest rate risk. Changes in interest rates enacted by the U.S. Federal Reserve may impact the Company’s investment income, cost of funding and the valuation of its investment portfolio.

The following tables present the Company’s investment portfolio measured at fair value on a recurring basis as of September 30, 2026 and December 31, 2025:


Security	Level 1		Level 2		Level 3		Fair Value as of September 30, 2026
Debt investments	$	—	$	15,256	$	95,889	$	111,145
Equity investments		—		—		113,872		113,872
Structured Finance Securities		—		—		27,130		27,130
	$	—	$	15,256	$	236,891	$	252,147


Security	Level 1		Level 2		Level 3		Fair Value as of December 31, 2025
Debt investments	$	—	$	14,809	$	165,005	$	179,814
Equity investments		—		—		100,596		100,596
Structured Finance Securities		—		—		61,605		61,605
	$	—	$	14,809	$	327,206	$	342,015

The following tables provide the primary quantitative information about valuation techniques and the Company’s unobservable inputs to its Level 3 fair value measurements as of September 30, 2026 and December 31, 2025. The Company may make changes to the valuation techniques, among techniques otherwise commonly utilized in accordance with its valuation policies, and/or the weighting of techniques used for particular investments based on changes in facts-and-circumstances and depending on the availability of, or changes in, information in order to produce the best estimate of fair value as of the measurement date. In addition to the techniques and unobservable inputs noted in the tables below and in accordance with OFS Advisor’s valuation policy, OFS Advisor, as valuation designee, may also use other valuation techniques and methodologies when determining the fair value measurements of the Company’s investment assets. The tables are not intended to be all-inclusive and only present the most significant unobservable input(s) relevant to the valuation designee’s determination of fair value.


	Fair Value at September 30, 2026		Valuation technique	Unobservable inputs	Range (Weighted average)(1)
Debt investments:
First lien	$	44,840	Discounted cash flow	Discount rates	9.36% - 36.00% (12.35%)
		30,268	Market approach	EBITDA multiples	3.00x - 8.00x (5.44x)
		1,887	Market approach	Revenue multiples	0.60x - 0.60x (0.60x)
		16,040	Market approach	Transaction Price
Second lien		976	Market approach	EBITDA multiples	9.00x - 9.00x (9.00x)
		1,878	Market approach	Transaction Price

Structured Finance Securities(2):
Subordinated notes		25,454	Discounted cash flow	Discount rates	19.00% - 70.00% (33.57%)
				Constant default rate	2.00% - 2.00% (2.00%)
				Recovery rate	65.00% - 65.00% (65.00%)
Mezzanine debt		1,676	Discounted cash flow	Discount margin	20.0% - 20.0% (20.00%)
				Constant default rate	2.00% - 2.00% (2.00%)
				Recovery rate	65.00% - 65.00% (65.00%)

Equity investments:
Preferred equity		16,766	Market approach	EBITDA multiples	6.75x - 8.50x (8.49x)
		368	Market approach	Transaction Price
Common equity, warrants and other		8,294	Market approach	EBITDA multiples	4.50x - 14.00x (8.48x)
		—	Market approach	Revenue multiples	0.60x - 0.60x (0.60x)
		88,444	Market approach	Transaction Price
	$	236,891

(1)

Weighted average is calculated based on the fair value of investments.

(2)

The cash flows utilized in the discounted cash flow calculations assume: (i) liquidation of (a) certain distressed investments and (b) all investments currently in default held by the issuing CLO at their current market prices; and (ii) redeployment of proceeds at the issuing CLO’s assumed reinvestment rate.


	Fair Value at December 31, 2025		Valuation technique	Unobservable inputs	Range (Weighted average)(1)
Debt investments:
First lien	$	115,014	Discounted cash flow	Discount rates	8.61% - 37.50% (12.77%)
		21,925	Market approach	EBITDA multiples	3.00x - 8.00x (6.11x)
		8,225	Market approach	Revenue multiples	0.35x - 0.50x (0.35x)
		10,432	Market approach	Transaction Price
Second lien		2,500	Discounted cash flow	Discount rates	13.70% - 13.70% (13.70%)
		448	Market approach	EBITDA multiples	9.00x - 9.00x (9.00x)
		6,461	Market approach	Revenue multiples	0.35x - 0.90x (0.70x)

Structured Finance Securities:
Subordinated notes(2)		53,368	Discounted cash flow	Discount rates	13.00% - 27.50% (18.73%)
				Constant default rate	2.00% - 3.00% (2.08%)
				Recovery rate	65.00% - 65.00% (65.00%)
Mezzanine debt(2)		8,074	Discounted cash flow	Discount margin	9.10% - 10.70% (9.62%)
				Constant default rate	2.00% - 2.00% (2.00%)
				Recovery rate	65.00% - 65.00% (65.00%)
Subordinated notes		163	Market approach	Net asset value liquidation(3)

Equity investments:
Preferred equity		12,448	Market approach	EBITDA multiples	7.25x - 8.50x (8.46x)
		119	Market approach	Revenue multiples	0.50x - 0.50x (0.50x)
Common equity, warrants and other		88,029	Market approach	EBITDA multiples	6.00x - 14.75x (12.33x)
Common equity, warrants and other		—	Market approach	Revenue multiples	0.35x - 0.50x (0.44x)
	$	327,206

(1)

Weighted average is calculated based on the fair value of investments.

(2)

(3)

NAV liquidation represents the fair value, or estimated expected residual value, of the investment.

Changes in market credit spreads or events impacting the credit quality of the underlying portfolio company (both of which could impact the discount rate), as well as changes in enterprise value and/or EBITDA multiples, among other things, could have a significant impact on fair values, with the fair value of a particular debt investment susceptible to change in inverse relation to the changes in the discount rate. Changes in enterprise value and/or EBITDA multiples, as well as changes in the discount rate, could have a significant impact on fair values, with the fair value of an equity investment susceptible to change in tandem with the changes in enterprise value and/or EBITDA multiples, and in inverse relation to changes in the discount rate. Due to the wide range of approaches in developing input assumptions to these valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Company’s disclosures and those of other companies may not be meaningful.

The following tables present changes in investments measured at fair value using Level 3 inputs for the nine months ended September 30, 2026 and 2025:


	Nine Months Ended September 30, 2026
	First Lien Debt Investments			Second Lien Debt Investments			Preferred Equity			Common Equity, Warrants and Other			Structured Finance Securities			Total
Level 3 assets, December 31, 2025	$	155,596		$	9,409		$	12,567		$	88,029		$	61,605		$	327,206
Net realized loss on investments		(1,032	)		(4,356	)		(9	)		(4,722	)		(13,882	)		(24,001	)
Net unrealized appreciation (depreciation) on investments		(5,773	)		8,921			2,549			5,291			(5,984	)		5,004
Amortization of Net Loan Fees		371			—			—			—			8			379
Accretion of interest income on Structured Finance Securities		—			—			—			—			6,185			6,185
Capitalized PIK interest and dividends		427			—			1,275			—			—			1,702
Amendment fees received		(45	)		—			—			—			—			(45	)
Purchase and origination of portfolio investments		4,469			—			—			—			—			4,469
Proceeds from principal payments on portfolio investments		(46,336	)		(2,228	)		—			—			—			(48,564	)
Sale and redemption of portfolio investments		(14,642	)		—			—			—			(13,358	)		(28,000	)
Conversion from debt investments to equity investments		—			(8,892	)		752			8,140			—			—
Proceeds from distributions received from portfolio investments		—			—			—			—			(7,444	)		(7,444	)
Level 3 assets, September 30, 2026	$	93,035		$	2,854		$	17,134		$	96,738		$	27,130		$	236,891


	Nine Months Ended September 30, 2025
	First Lien Debt Investments			Second Lien Debt Investments			Preferred Equity			Common Equity, Warrants and Other			Structured Finance Securities			Total
Level 3 assets, December 31, 2024	$	168,037		$	34,331		$	12,248		$	96,337		$	76,875		$	387,828
Net realized loss on investments		(39	)		(3,442	)		—			—			(6,933	)		(10,414	)
Net unrealized appreciation (depreciation) on investments		(2,847	)		576			(2,936	)		(13,896	)		(483	)		(19,586	)
Amortization of Net Loan Fees		359			196			—			—			86			641
Accretion of interest income on Structured Finance Securities		—			—			—			—			8,694			8,694
Capitalized PIK interest and dividends		355			850			935			—			—			2,140
Amendment fees received		(58	)		—			—			—			—			(58	)
Purchase and origination of portfolio investments		20,213			—			2,750			—			18,041			41,004
Proceeds from principal payments on portfolio investments		(8,612	)		(7,061	)		—			—			(7,000	)		(22,673	)
Sale and redemption of portfolio investments		(6,626	)		(979	)		—			—			(12,048	)		(19,653	)
Conversion from debt investments to equity investments		(2,992	)		—			—			2,992			—			—
Proceeds from distributions received from portfolio investments		—			—			—			—			(11,055	)		(11,055	)
Transfers from Level 3 to Level 2		(3,954	)		—			—			—			—			(3,954	)
Level 3 assets, September 30, 2025	$	163,836		$	24,471		$	12,997		$	85,433		$	66,177		$	352,914

The net unrealized depreciation reported in the Company’s consolidated statements of operations for the nine months ended September 30, 2026 and 2025, attributable to the Company’s Level 3 assets still held at those respective period ends, was as follows:


	Nine Months Ended September 30,
	2026			2025
Debt investments	$	(10,980	)	$	(3,656	)
Equity investments		3,109			(16,833	)
Structured Finance Securities		(10,459	)		(5,859	)
Net unrealized depreciation on investments held	$	(18,330	)	$	(26,348	)

Other Financial Assets and Liabilities

GAAP requires disclosure of the fair value of financial instruments not reported at fair value on a recurring basis for which it is practical to estimate such values. The Company believes that the carrying amounts of its other financial instruments, such as cash, cash equivalents, receivables and payables approximate the fair value of such items due to the short maturity of such financial instruments. The Banc of California Credit Facility and Natixis Facility are variable rate instruments and fair value is estimated to approximate carrying value.

The following table sets forth carrying values and fair values of the Company’s debt as of September 30, 2026 and December 31, 2025:


	September 30, 2026				December 31, 2025
Description	Carrying Value(1)		Fair Value		Carrying Value(1)		Fair Value
Banc of California Credit Facility(2)	$	—	$	—	$	4,500	$	4,500
BNP Facility(3)		—		—		50,950		50,950
Natixis Facility		25,400		25,400		—		—
Unsecured Notes Due February 2026(4)		—		—		15,988		15,961
Unsecured Notes Due July 2028(5)		48,243		50,960		67,498		70,877
Unsecured Notes Due October 2028		54,573		52,448		54,420		52,118
Unsecured Note Due August 2029		24,432		24,400		24,282		25,333
Total debt	$	152,648	$	153,208	$	217,638	$	219,739

(1)

Carrying value is calculated as the outstanding principal amount less unamortized deferred debt issuance costs.

(2)

As of September 30, 2026, the Banc of California Credit Facility had no outstanding balance.

(3)

On February 18, 2026, in connection with the closing of the Natixis Facility, OFSCC-FS repaid in full all outstanding obligations due, and terminated all commitments, under the BNP Facility.

(4)

On February 9, 2026, the Company redeemed the remainder of the outstanding Unsecured Notes Due February 2026.

(5)

On September 29, 2026, the Company redeemed $20,000 of the outstanding Unsecured Notes Due July 2028.

The following tables present the fair value measurements of the Company’s debt and the level within the fair value hierarchy of the significant unobservable inputs utilized by the Company to determine such fair values as of September 30, 2026 and December 31, 2025:


	September 30, 2026
Description	Level 1(1)		Level 2		Level 3(2)		Total
Banc of California Credit Facility	$	—	$	—	$	—	$	—
Natixis Facility		—		—		25,400		25,400
Unsecured Notes Due July 2028		50,960		—		—		50,960
Unsecured Notes Due October 2028		52,448		—		—		52,448
Unsecured Note Due August 2029		—		—		24,400		24,400
Total debt, at fair value	$	103,408	$	—	$	49,800	$	153,208


	December 31, 2025
Description	Level 1(1)		Level 2		Level 3(2)		Total
Banc of California Credit Facility	$	—	$	—	$	4,500	$	4,500
BNP Facility		—		—		50,950		50,950
Unsecured Notes Due February 2026		—		—		15,961		15,961
Unsecured Notes Due July 2028		70,877		—		—		70,877
Unsecured Notes Due October 2028		52,118		—		—		52,118
Unsecured Note Due August 2029		—		—		25,333		25,333
Total debt, at fair value	$	122,995	$	—	$	96,744	$	219,739

(1)

For Level 1 measurements, fair value is estimated by using the closing price of the security on The Nasdaq Global Select Market.

(2)

For Level 3 measurements, fair value is estimated through discounting remaining payments using current market rates for similar instruments at the measurement date through the legal maturity date.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Consolidated Schedule of Investments (PIK Investment)

Sep. 30, 2026

Dec. 31, 2025

Investment, Identifier [Axis]: Portfolio Company Avison Young Inc. Investment Type First Lien Debt

Schedule of Investments [Line Items]

Maximum PIK rate allowed

12.51%

8.50%

Investment, Identifier [Axis]: Portfolio Company Avison Young Inc. Investment Type First Lien Debt Five

Schedule of Investments [Line Items]

Maximum PIK rate allowed

12.51%

Investment, Identifier [Axis]: Portfolio Company Avison Young Inc. Investment Type First Lien Debt Four

Schedule of Investments [Line Items]

Maximum PIK rate allowed

11.62%

Investment, Identifier [Axis]: Portfolio Company Avison Young Inc. Investment Type First Lien Debt One

Schedule of Investments [Line Items]

Maximum PIK rate allowed

12.51%

5.85%

Investment, Identifier [Axis]: Portfolio Company Avison Young Inc. Investment Type First Lien Debt Three

Schedule of Investments [Line Items]

Maximum PIK rate allowed

5.96%

6.50%

Investment, Identifier [Axis]: Portfolio Company Avison Young Inc. Investment Type First Lien Debt Two

Schedule of Investments [Line Items]

Maximum PIK rate allowed

11.36%

6.50%

Investment, Identifier [Axis]: Portfolio Company Inergex Holdings, LLC Investment Type First Lien Debt

Schedule of Investments [Line Items]

Maximum PIK rate allowed

2.00%

Investment, Identifier [Axis]: Portfolio Company Inergex Holdings, LLC Investment Type First Lien Debt (Revolver)

Schedule of Investments [Line Items]

Maximum PIK rate allowed

2.00%

Schedule of Investments [Line Items]

Interest Rate, PIK

^{[1],[2],[3],[4],[5]}

9.22%

Schedule of Investments [Line Items]

Interest Rate, PIK

^{[6],[7],[8],[9]}

9.24%

Schedule of Investments [Line Items]

Interest Rate, PIK

^{[6],[7],[10],[11]}

8.50%

Interest rate, cash

^{[6],[7],[10],[11]}

3.70%

Schedule of Investments [Line Items]

Interest Rate, PIK

^{[6],[7],[8],[10],[11]}

5.85%

Interest rate, cash

^{[6],[7],[8],[10],[11]}

5.20%

Schedule of Investments [Line Items]

Interest Rate, PIK

^{[6],[7],[8],[10],[11]}

6.50%

Interest rate, cash

^{[6],[7],[8],[10],[11]}

5.49%

Schedule of Investments [Line Items]

Interest Rate, PIK

^{[6],[7],[8],[10],[11],[12],[13]}

6.50%

Interest rate, cash

^{[6],[7],[8],[10],[11],[12],[13]}

5.60%

Schedule of Investments [Line Items]

Interest Rate, PIK

^{[6],[7],[12],[13],[14]}

10.00%

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Excelin Home Health, LLC SLD Industry Home Health Care Services IR 18.00% PIK IAD 10/25/2018 MD 10/1/2026

Schedule of Investments [Line Items]

Interest Rate, PIK

^[6],[7],[12]

18.00%

Schedule of Investments [Line Items]

Interest Rate, PIK

^[6],[7],[11]

4.00%

Interest rate, cash

^[6],[7],[11]

5.17%

Schedule of Investments [Line Items]

Interest Rate, PIK

^{[6],[7],[8],[11],[15]}

0.50%

Interest rate, cash

^{[6],[7],[8],[11],[15]}

10.07%

Schedule of Investments [Line Items]

Interest Rate, PIK

^[6],[7],[8]

0.50%

Interest rate, cash

^[6],[7],[8]

10.18%

Schedule of Investments [Line Items]

Interest Rate, PIK

^[1],[2],[4]

1.25%

Interest rate, cash

^[1],[2],[4]

10.00%

Schedule of Investments [Line Items]

Interest Rate, PIK

^[1],[2],[3]

18.00%

Schedule of Investments [Line Items]

Interest Rate, PIK

^{[1],[2],[3],[4],[16]}

10.75%

Schedule of Investments [Line Items]

Interest Rate, PIK

^{[1],[2],[3],[4],[16]}

10.75%

Schedule of Investments [Line Items]

Interest Rate, PIK

^{[6],[7],[8],[10],[11]}

1.00%

Interest rate, cash

^{[6],[7],[8],[10],[11]}

10.85%

Schedule of Investments [Line Items]

Interest Rate, PIK

^{[6],[7],[8],[10],[11]}

1.00%

Interest rate, cash

^{[6],[7],[8],[10],[11]}

10.85%

Schedule of Investments [Line Items]

Interest Rate, PIK

^[6],[7],[8]

1.25%

Interest rate, cash

^[6],[7],[8]

9.82%

Schedule of Investments [Line Items]

Interest Rate, PIK

^{[6],[7],[8],[11]}

1.75%

Interest rate, cash

^{[6],[7],[8],[11]}

8.33%

Investment, Identifier [Axis]: Portfolio Company JP Intermediate B, LLC Investment Type First Lien Debt

Schedule of Investments [Line Items]

Maximum PIK rate allowed

4.00%

Investment, Identifier [Axis]: Portfolio Company Kreg, LLC Investment Type First Lien Debt

Schedule of Investments [Line Items]

Maximum PIK rate allowed

0.50%

Investment, Identifier [Axis]: Portfolio Company Metasource,, LLC Investment Type First Lien Debt

Schedule of Investments [Line Items]

Maximum PIK rate allowed

0.50%

Investment, Identifier [Axis]: Portfolio Company One GI LLC Investment Type First Lien Debt

Schedule of Investments [Line Items]

Maximum PIK rate allowed

10.75%

Investment, Identifier [Axis]: Portfolio Company One GI LLC Investment Type First Lien Debt (Revolver)

Schedule of Investments [Line Items]

Maximum PIK rate allowed

10.75%

Investment, Identifier [Axis]: Portfolio Company One GI LLC Investment Type First Lien Debt One

Schedule of Investments [Line Items]

Maximum PIK rate allowed

10.75%

Investment, Identifier [Axis]: Portfolio Company RideNow Group, Inc. (F/K/A RumbleOn, Inc.) Investment Type First Lien Debt

Schedule of Investments [Line Items]

Maximum PIK rate allowed

1.00%

Investment, Identifier [Axis]: Portfolio Company RideNow Group, Inc. (F/K/A RumbleOn, Inc.) Investment Type First Lien Debt One

Schedule of Investments [Line Items]

Maximum PIK rate allowed

1.00%

Investment, Identifier [Axis]: Portfolio Company Wellful Inc. (F/K/A KNS Acquisition Corp.) Investment Type First Lien Debt

Schedule of Investments [Line Items]

Maximum PIK rate allowed

1.75%

Maximum | Investment, Identifier [Axis]: Portfolio Company Avison Young Inc. Investment Type First Lien Debt

Schedule of Investments [Line Items]

Interest Rate, PIK

12.51%

8.50%

Interest rate, cash

12.51%

12.20%

Maximum | Investment, Identifier [Axis]: Portfolio Company Avison Young Inc. Investment Type First Lien Debt Five

Schedule of Investments [Line Items]

Interest Rate, PIK

12.51%

Interest rate, cash

12.51%

Maximum | Investment, Identifier [Axis]: Portfolio Company Avison Young Inc. Investment Type First Lien Debt Four

Schedule of Investments [Line Items]

Interest Rate, PIK

11.62%

Interest rate, cash

11.62%

Maximum | Investment, Identifier [Axis]: Portfolio Company Avison Young Inc. Investment Type First Lien Debt One

Schedule of Investments [Line Items]

Interest Rate, PIK

12.51%

5.85%

Interest rate, cash

12.51%

11.05%

Maximum | Investment, Identifier [Axis]: Portfolio Company Avison Young Inc. Investment Type First Lien Debt Three

Schedule of Investments [Line Items]

Interest Rate, PIK

5.96%

6.50%

Interest rate, cash

11.36%

12.10%

Maximum | Investment, Identifier [Axis]: Portfolio Company Avison Young Inc. Investment Type First Lien Debt Two

Schedule of Investments [Line Items]

Interest Rate, PIK

11.36%

6.50%

Interest rate, cash

11.36%

11.99%

Maximum | Investment, Identifier [Axis]: Portfolio Company Inergex Holdings, LLC Investment Type First Lien Debt

Schedule of Investments [Line Items]

Interest Rate, PIK

2.00%

Interest rate, cash

13.22%

Maximum | Investment, Identifier [Axis]: Portfolio Company Inergex Holdings, LLC Investment Type First Lien Debt (Revolver)

Schedule of Investments [Line Items]

Interest Rate, PIK

2.00%

Interest rate, cash

13.22%

Maximum | Investment, Identifier [Axis]: Portfolio Company JP Intermediate B, LLC Investment Type First Lien Debt

Schedule of Investments [Line Items]

Interest Rate, PIK

4.00%

Interest rate, cash

11.07%

9.17%

Maximum | Investment, Identifier [Axis]: Portfolio Company Kreg, LLC Investment Type First Lien Debt

Schedule of Investments [Line Items]

Interest Rate, PIK

0.50%

Interest rate, cash

10.57%

Maximum | Investment, Identifier [Axis]: Portfolio Company Metasource,, LLC Investment Type First Lien Debt

Schedule of Investments [Line Items]

Interest Rate, PIK

0.50%

Interest rate, cash

11.09%

Maximum | Investment, Identifier [Axis]: Portfolio Company One GI LLC Investment Type First Lien Debt

Schedule of Investments [Line Items]

Interest Rate, PIK

10.75%

Interest rate, cash

10.75%

Maximum | Investment, Identifier [Axis]: Portfolio Company One GI LLC Investment Type First Lien Debt (Revolver)

Schedule of Investments [Line Items]

Interest Rate, PIK

10.75%

Interest rate, cash

10.75%

Maximum | Investment, Identifier [Axis]: Portfolio Company One GI LLC Investment Type First Lien Debt One

Schedule of Investments [Line Items]

Interest Rate, PIK

10.75%

Interest rate, cash

10.75%

Maximum | Investment, Identifier [Axis]: Portfolio Company RideNow Group, Inc. (F/K/A RumbleOn, Inc.) Investment Type First Lien Debt

Schedule of Investments [Line Items]

Interest Rate, PIK

1.00%

Interest rate, cash

11.85%

Maximum | Investment, Identifier [Axis]: Portfolio Company RideNow Group, Inc. (F/K/A RumbleOn, Inc.) Investment Type First Lien Debt One

Schedule of Investments [Line Items]

Interest Rate, PIK

1.00%

Interest rate, cash

11.85%

Maximum | Investment, Identifier [Axis]: Portfolio Company Wellful Inc. (F/K/A KNS Acquisition Corp.) Investment Type First Lien Debt

Schedule of Investments [Line Items]

Interest Rate, PIK

1.75%

Interest rate, cash

10.08%

Minimum | Investment, Identifier [Axis]: Portfolio Company Avison Young Inc. Investment Type First Lien Debt

Schedule of Investments [Line Items]

Interest Rate, PIK

0.00%

Interest rate, cash

0.00%

3.70%

Minimum | Investment, Identifier [Axis]: Portfolio Company Avison Young Inc. Investment Type First Lien Debt Five

Schedule of Investments [Line Items]

Interest Rate, PIK

0.00%

Interest rate, cash

0.00%

Minimum | Investment, Identifier [Axis]: Portfolio Company Avison Young Inc. Investment Type First Lien Debt Four

Schedule of Investments [Line Items]

Interest Rate, PIK

0.00%

Interest rate, cash

0.00%

Minimum | Investment, Identifier [Axis]: Portfolio Company Avison Young Inc. Investment Type First Lien Debt One

Schedule of Investments [Line Items]

Interest Rate, PIK

0.00%

Interest rate, cash

0.00%

5.20%

Minimum | Investment, Identifier [Axis]: Portfolio Company Avison Young Inc. Investment Type First Lien Debt Three

Schedule of Investments [Line Items]

Interest Rate, PIK

0.00%

Interest rate, cash

5.40%

5.60%

Minimum | Investment, Identifier [Axis]: Portfolio Company Avison Young Inc. Investment Type First Lien Debt Two

Schedule of Investments [Line Items]

Interest Rate, PIK

0.00%

Interest rate, cash

0.00%

5.49%

Minimum | Investment, Identifier [Axis]: Portfolio Company Inergex Holdings, LLC Investment Type First Lien Debt

Schedule of Investments [Line Items]

Interest Rate, PIK

0.00%

Interest rate, cash

11.22%

Minimum | Investment, Identifier [Axis]: Portfolio Company Inergex Holdings, LLC Investment Type First Lien Debt (Revolver)

Schedule of Investments [Line Items]

Interest Rate, PIK

0.00%

Interest rate, cash

11.22%

Minimum | Investment, Identifier [Axis]: Portfolio Company JP Intermediate B, LLC Investment Type First Lien Debt

Schedule of Investments [Line Items]

Interest Rate, PIK

0.00%

Interest rate, cash

7.07%

5.17%

Minimum | Investment, Identifier [Axis]: Portfolio Company Kreg, LLC Investment Type First Lien Debt

Schedule of Investments [Line Items]

Interest Rate, PIK

0.00%

Interest rate, cash

10.07%

Minimum | Investment, Identifier [Axis]: Portfolio Company Metasource,, LLC Investment Type First Lien Debt

Schedule of Investments [Line Items]

Interest Rate, PIK

0.00%

Interest rate, cash

10.59%

Minimum | Investment, Identifier [Axis]: Portfolio Company One GI LLC Investment Type First Lien Debt

Schedule of Investments [Line Items]

Interest Rate, PIK

0.00%

Interest rate, cash

0.00%

Minimum | Investment, Identifier [Axis]: Portfolio Company One GI LLC Investment Type First Lien Debt (Revolver)

Schedule of Investments [Line Items]

Interest Rate, PIK

0.00%

Interest rate, cash

0.00%

Minimum | Investment, Identifier [Axis]: Portfolio Company One GI LLC Investment Type First Lien Debt One

Schedule of Investments [Line Items]

Interest Rate, PIK

0.00%

Interest rate, cash

0.00%

Minimum | Investment, Identifier [Axis]: Portfolio Company RideNow Group, Inc. (F/K/A RumbleOn, Inc.) Investment Type First Lien Debt

Schedule of Investments [Line Items]

Interest Rate, PIK

0.00%

Interest rate, cash

10.85%

Minimum | Investment, Identifier [Axis]: Portfolio Company RideNow Group, Inc. (F/K/A RumbleOn, Inc.) Investment Type First Lien Debt One

Schedule of Investments [Line Items]

Interest Rate, PIK

0.00%

Interest rate, cash

10.85%

Minimum | Investment, Identifier [Axis]: Portfolio Company Wellful Inc. (F/K/A KNS Acquisition Corp.) Investment Type First Lien Debt

Schedule of Investments [Line Items]

Interest Rate, PIK

0.00%

Interest rate, cash

8.33%

[1]	As of September 30, 2026, the Company held loans and mezzanine debt investments with an aggregate fair value of $103,271 that bore interest at a variable rate indexed to SOFR or Prime, and reset monthly, quarterly, or semi-annually. For each variable-rate investment, the Company has provided the spread over the reference rate and current interest rate in effect as of September 30, 2026. Unless otherwise noted, all investments with a stated PIK rate require interest payments with the issuance of additional securities as payment of the entire PIK provision.
[2]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[3]	Investment was on non-accrual status as of September 30, 2026. See Note 4 for further details.
[4]	Investments (or a portion thereof) held by OFSCC-FS. These assets are pledged as collateral of the Natixis Facility and cannot be pledged under any debt obligation of the Parent.
[5]	The Company has an observer seat on the portfolio company’s board of directors.
[6]	As of December 31, 2025, the Company held loans and mezzanine debt investments with an aggregate fair value of $168,018 that bore interest at a variable rate indexed to SOFR or Prime, and reset monthly, quarterly, or semi-annually. For each variable-rate investment, the Company has provided the spread over the reference rate and current interest rate in effect as of December 31, 2025. Unless otherwise noted, all investments with a stated PIK rate require interest payments with the issuance of additional securities as payment of the entire PIK provision.
[7]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[8]	Investments (or a portion thereof) held by OFSCC-FS. These assets are pledged as collateral of the BNP Facility and cannot be pledged under any other debt obligation of the Company.
[9]	The Company has an observer seat on the portfolio company’s board of directors.
[10]	Non-qualifying assets under Section 55(a) of the 1940 Act. Qualifying assets as defined in Section 55 of the 1940 Act must represent at least 70% of the Company's assets immediately following the acquisition of any additional non-qualifying assets. As of December 31, 2025, approximately 81% of the Company's assets were qualifying assets.
[11]	The interest rate on these investments contains a PIK provision, whereby the issuer has the option to make interest payments in cash or with the issuance of additional securities as payment of the entire PIK provision. The interest rate in the schedule represents the current interest rate in effect for these investments. The following table provides additional details on these PIK investments, including the maximum annual PIK interest rate allowed as of December 31, 2025:
[12]	Investment was on non-accrual status as of December 31, 2025, meaning the Company suspended recognition of all or a portion of income on the investment. See Note 4 for further details.
[13]	Non-income producing.
[14]	The Company holds at least one seat on the portfolio company’s board of directors.
[15]	Portfolio company at fair value represents greater than 5% of total assets at December 31, 2025.
[16]	The interest rate on these investments contains a PIK provision, whereby the issuer has the option to make interest payments in cash or with the issuance of additional securities as payment of the entire PIK provision. The interest rate in the schedule represents the current interest rate in effect for these investments. The following table provides additional details on these PIK investments, including the maximum annual PIK interest rate allowed as of September 30, 2026:

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2026

Accounting Policies [Abstract]

Basis of presentation

Basis of presentation: The Company is an investment company as defined in the accounting and reporting guidance under ASC Topic 946, Financial Services–Investment Companies. The accompanying interim consolidated financial statements of the Company and related financial information have been prepared in accordance with GAAP for interim financial information and pursuant to the requirements for reporting on Form 10-Q, and Articles 6, 10 and 12 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for annual financial statements. However, in the opinion of management, the consolidated financial statements include all adjustments, consisting only of normal and recurring accruals and adjustments, necessary for fair presentation as of, and for, the periods presented. These consolidated financial statements and notes hereto should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, filed on March 3, 2026. The results of operations for any interim period are not necessarily indicative of the results of operations to be expected for the full year.

Significant Accounting Policies: The following information supplements the description of significant accounting policies contained in Note 2 to the Company’s consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

Reclassifications

Reclassifications: Certain prior period amounts have been reclassified to conform to the current period presentation in the consolidated financial statements and the accompanying notes thereto. Reclassifications did not impact net increase (decrease) in net assets resulting from operations, total assets, total liabilities or total net assets, or consolidated statements of changes in net assets and consolidated statements of cash flows classifications.

Use of estimates

Use of estimates: The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ significantly from those estimates.

Concentration of credit risk

Concentration of credit risk: Aside from the Company’s investments, financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash deposits at financial institutions. At various times during the year, the Company exceeds the federally insured limits. The Company places cash deposits only with high credit quality institutions which OFS Advisor believes will mitigate the risk of loss due to credit risk. If borrowers completely fail to perform according to the terms of the contracts, the amount of loss due to credit risk from the Company’s investments is equal to the sum of the Company’s recorded investments and, if applicable, the unfunded commitments disclosed in Note 6.

Cash and cash equivalents

Cash and cash equivalents: Cash represents cash deposits held at U.S. Bank Trust Company, National Association and Citibank N.A., and cash equivalents consist of highly liquid money market funds. Cash equivalents are classified as Level 1 assets and are carried at amortized cost which approximates fair value. The Company’s cash and cash equivalents are maintained with member banks of the FDIC, and, such balances generally exceed the FDIC insurance limits. The Company does not believe its cash and cash equivalent balances are exposed to any significant credit risk. In addition, the Company’s use of cash and cash equivalents held by OFSCC-FS is limited by the terms and conditions of the Natixis Facility, including but not limited to, the payment of interest expense and principal on the outstanding borrowings.

The Company had the following cash and cash equivalents as of September 30, 2026 and December 31, 2025:


	September 30, 2026		December 31, 2025
Cash	$	1,865	$	3,050
Cash equivalents		1,267		309
Total cash and cash equivalents	$	3,132	$	3,359

- Definition

Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2026

Accounting Policies [Abstract]

Schedule of Cash and Cash Equivalents

The Company had the following cash and cash equivalents as of September 30, 2026 and December 31, 2025:


	September 30, 2026		December 31, 2025
Cash	$	1,865	$	3,050
Cash equivalents		1,267		309
Total cash and cash equivalents	$	3,132	$	3,359

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2026	Oct. 27, 2026
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Sep. 30, 2026
Document Transition Report	false
Securities Act File Number	814-00813
Entity Registrant Name	OFS CAPITAL CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-1339639
Entity Address, Address Line One	222 W. Adams Street
Entity Address, Address Line Two	Suite 1850
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60606
City Area Code	847
Local Phone Number	734-2000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		13,398,078
Entity Central Index Key	0001487918
Amendment Flag	false
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q3
Common Stock, $0.01 par value per share
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	OFS
Security Exchange Name	NASDAQ
4.95% Notes due 2028
Document Information [Line Items]
Title of 12(b) Security	4.95% Notes due 2028
Trading Symbol	OFSSH
Security Exchange Name	NASDAQ
7.50% Notes due 2028
Document Information [Line Items]
Title of 12(b) Security	7.50% Notes due 2028
Trading Symbol	OFSSO
Security Exchange Name	NASDAQ

Borrowings - BNP Facility Narrative (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Feb. 18, 2026	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025	Dec. 31, 2025
Line of Credit Facility [Line Items]
Loss on extinguishment of debt		$ (310)	$ (492)	$ (440)	$ (492)
Outstanding debt		25,400		25,400		$ 55,450
BNP Facility \| Line of Credit
Line of Credit Facility [Line Items]
Borrowing capacity		80,000		80,000
Revolving Credit Facility \| BNP Facility \| OFSCC-FS
Line of Credit Facility [Line Items]
Borrowing capacity		$ 80,000		$ 80,000
Interest rate floor		(2.65%)		(2.65%)
Loss on extinguishment of debt	$ 89
Outstanding debt		$ 0		$ 0		$ 50,950

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Summary of Significant Accounting Policies - Cash and Cash Equivalents (Details) - USD ($)
$ in Thousands

Sep. 30, 2026

Dec. 31, 2025

Accounting Policies [Abstract]

Cash

$ 1,865

$ 3,050

Cash equivalents

1,267

^[1],[2]

309

^[3],[4]

Total cash and cash equivalents

$ 3,132

$ 3,359

[1]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[2]	Represents cash equivalents held in a money market fund as of September 30, 2026. The Company also had cash deposits of $1,865 as of September 30, 2026.
[3]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[4]	Represents cash equivalents held in a money market fund as of December 31, 2025. The Company also had cash deposits of $3,050 as of December 31, 2025.

- Definition

Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation.

+ References

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+ Details

Fair Value of Financial Instruments - Level 3 Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Level 3 assets, beginning balance			$ 327,206	$ 387,828
Amounts included in earnings			6,185	8,694
Purchase and origination of portfolio investments			4,469	41,004
Proceeds from principal payments on portfolio investments			(48,564)	(22,673)
Sale and redemption of portfolio investments			(28,000)	(19,653)
Proceeds from distributions received from portfolio investments			(7,444)	(11,055)
Conversion from debt investments to equity investments			0	0
Transfers from Level 2 to Level 3	$ 0	$ 2,519	0
Transfers from Level 3 to Level 2	0	(3,954)	0	(3,954)
Level 3 assets, ending balance	236,891	352,914	$ 236,891	$ 352,914
Location of amounts included in earnings - not disclosed			Accretion of interest income on Structured Finance Securities	Accretion of interest income on Structured Finance Securities
Net unrealized appreciation (depreciation) on investments held			$ (18,330)	$ (26,348)
Net realized gain (loss) on investments			(25,143)	(11,424)
Amortization of Net Loan Fees			522	705
Capitalized PIK interest and dividends	516	770	1,702	2,140
Fee Income	206	162	241	341
Location, Statement of Income, Balance [Axis]: us-gaap:AmortizationOfDeferredLoanOriginationFeesNet
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			$ 379	$ 641
Location of amounts included in earnings - not disclosed			Amortization of Net Loan Fees	Amortization of Net Loan Fees
Location, Statement of Income, Balance [Axis]: us-gaap:DebtAndEquitySecuritiesRealizedGainLoss
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			$ (24,001)	$ (10,414)
Location of amounts included in earnings - not disclosed			Net realized loss on investments	Net realized loss on investments
Location, Statement of Income, Balance [Axis]: us-gaap:DebtAndEquitySecuritiesUnrealizedGainLoss
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			$ (5,004)	$ (19,586)
Location of amounts included in earnings - not disclosed			Net unrealized appreciation (depreciation) on investments	Net unrealized appreciation (depreciation) on investments
Location, Statement of Income, Balance [Axis]: us-gaap:InterestAndDividendIncomeOperatingPaidInKind
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			$ 1,702	$ 2,140
Location of amounts included in earnings - not disclosed			Capitalized PIK interest and dividends	Capitalized PIK interest and dividends
Location, Statement of Income, Balance [Axis]: ofs:AmendmentFeesCollected
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			$ (45)	$ (58)
Location of amounts included in earnings - not disclosed			Amendment fees received	Amendment fees received
First lien debt investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Level 3 assets, beginning balance			$ 155,596	$ 168,037
Amounts included in earnings			0	0
Purchase and origination of portfolio investments			4,469	20,213
Proceeds from principal payments on portfolio investments			(46,336)	(8,612)
Sale and redemption of portfolio investments			(14,642)	6,626
Proceeds from distributions received from portfolio investments			0	0
Conversion from debt investments to equity investments			0	(2,992)
Transfers from Level 3 to Level 2				(3,954)
Level 3 assets, ending balance	93,035	163,836	93,035	163,836
First lien debt investments \| Location, Statement of Income, Balance [Axis]: us-gaap:AmortizationOfDeferredLoanOriginationFeesNet
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			371	359
First lien debt investments \| Location, Statement of Income, Balance [Axis]: us-gaap:DebtAndEquitySecuritiesRealizedGainLoss
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			(1,032)	(39)
First lien debt investments \| Location, Statement of Income, Balance [Axis]: us-gaap:DebtAndEquitySecuritiesUnrealizedGainLoss
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			(5,773)	(2,847)
First lien debt investments \| Location, Statement of Income, Balance [Axis]: us-gaap:InterestAndDividendIncomeOperatingPaidInKind
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			427	355
First lien debt investments \| Location, Statement of Income, Balance [Axis]: ofs:AmendmentFeesCollected
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			(45)	(58)
Second lien debt investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Level 3 assets, beginning balance			9,409	34,331
Amounts included in earnings			0	0
Purchase and origination of portfolio investments			0	0
Proceeds from principal payments on portfolio investments			(2,228)	7,061
Sale and redemption of portfolio investments			0	(979)
Proceeds from distributions received from portfolio investments			0	0
Conversion from debt investments to equity investments			(8,892)	0
Transfers from Level 3 to Level 2				0
Level 3 assets, ending balance	2,854	24,471	2,854	24,471
Second lien debt investments \| Location, Statement of Income, Balance [Axis]: us-gaap:AmortizationOfDeferredLoanOriginationFeesNet
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			0	196
Second lien debt investments \| Location, Statement of Income, Balance [Axis]: us-gaap:DebtAndEquitySecuritiesRealizedGainLoss
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			(4,356)	(3,442)
Second lien debt investments \| Location, Statement of Income, Balance [Axis]: us-gaap:DebtAndEquitySecuritiesUnrealizedGainLoss
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			8,921	576
Second lien debt investments \| Location, Statement of Income, Balance [Axis]: us-gaap:InterestAndDividendIncomeOperatingPaidInKind
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			0	850
Second lien debt investments \| Location, Statement of Income, Balance [Axis]: ofs:AmendmentFeesCollected
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			0	0
Preferred Stock [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Level 3 assets, beginning balance			12,567	12,248
Amounts included in earnings			0	0
Purchase and origination of portfolio investments			0	2,750
Proceeds from principal payments on portfolio investments			0	0
Sale and redemption of portfolio investments			0	0
Proceeds from distributions received from portfolio investments			0	0
Conversion from debt investments to equity investments			752	0
Transfers from Level 3 to Level 2				0
Level 3 assets, ending balance	17,134	12,997	17,134	12,997
Preferred Stock [Member] \| Location, Statement of Income, Balance [Axis]: us-gaap:AmortizationOfDeferredLoanOriginationFeesNet
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			0	0
Preferred Stock [Member] \| Location, Statement of Income, Balance [Axis]: us-gaap:DebtAndEquitySecuritiesRealizedGainLoss
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			9	0
Preferred Stock [Member] \| Location, Statement of Income, Balance [Axis]: us-gaap:DebtAndEquitySecuritiesUnrealizedGainLoss
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			(2,549)	(2,936)
Preferred Stock [Member] \| Location, Statement of Income, Balance [Axis]: us-gaap:InterestAndDividendIncomeOperatingPaidInKind
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			1,275	935
Preferred Stock [Member] \| Location, Statement of Income, Balance [Axis]: ofs:AmendmentFeesCollected
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			0	0
Common equity, warrants and other
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Level 3 assets, beginning balance			88,029	96,337
Amounts included in earnings			0	0
Purchase and origination of portfolio investments			0	0
Proceeds from principal payments on portfolio investments			0	0
Sale and redemption of portfolio investments			0	0
Proceeds from distributions received from portfolio investments			0	0
Conversion from debt investments to equity investments			8,140	2,992
Transfers from Level 3 to Level 2				0
Level 3 assets, ending balance	96,738	85,433	96,738	85,433
Common equity, warrants and other \| Location, Statement of Income, Balance [Axis]: us-gaap:AmortizationOfDeferredLoanOriginationFeesNet
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			0	0
Common equity, warrants and other \| Location, Statement of Income, Balance [Axis]: us-gaap:DebtAndEquitySecuritiesRealizedGainLoss
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			(4,722)	0
Common equity, warrants and other \| Location, Statement of Income, Balance [Axis]: us-gaap:DebtAndEquitySecuritiesUnrealizedGainLoss
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			5,291	(13,896)
Common equity, warrants and other \| Location, Statement of Income, Balance [Axis]: us-gaap:InterestAndDividendIncomeOperatingPaidInKind
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			0	0
Common equity, warrants and other \| Location, Statement of Income, Balance [Axis]: ofs:AmendmentFeesCollected
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			0	0
Structured Finance Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Level 3 assets, beginning balance			61,605	76,875
Amounts included in earnings			6,185	8,694
Purchase and origination of portfolio investments			0	18,041
Proceeds from principal payments on portfolio investments			0	(7,000)
Sale and redemption of portfolio investments			(13,358)	(12,048)
Proceeds from distributions received from portfolio investments			(7,444)	(11,055)
Conversion from debt investments to equity investments			0	0
Transfers from Level 3 to Level 2				0
Level 3 assets, ending balance	$ 27,130	$ 66,177	27,130	66,177
Net unrealized appreciation (depreciation) on investments held			(10,459)	(5,859)
Structured Finance Securities \| Location, Statement of Income, Balance [Axis]: us-gaap:AmortizationOfDeferredLoanOriginationFeesNet
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			8	86
Structured Finance Securities \| Location, Statement of Income, Balance [Axis]: us-gaap:DebtAndEquitySecuritiesRealizedGainLoss
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			(13,882)	(6,933)
Structured Finance Securities \| Location, Statement of Income, Balance [Axis]: us-gaap:DebtAndEquitySecuritiesUnrealizedGainLoss
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			(5,984)	483
Structured Finance Securities \| Location, Statement of Income, Balance [Axis]: us-gaap:InterestAndDividendIncomeOperatingPaidInKind
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			0	0
Structured Finance Securities \| Location, Statement of Income, Balance [Axis]: ofs:AmendmentFeesCollected
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amounts included in earnings			0	0
Debt investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Net unrealized appreciation (depreciation) on investments held			(10,980)	(3,656)
Equity investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Net unrealized appreciation (depreciation) on investments held			$ 3,109	$ (16,833)

Related Party Transactions (Tables)

9 Months Ended

Sep. 30, 2026

Expenses recognized under agreements with OFS Advisor and OFS Services and distributions paid to affiliates for the three and nine months ended September 30, 2026 and 2025 are presented below:


	Three months ended September 30,					Nine Months Ended September 30,
	2026			2025		2026			2025
Base management fee(1)	$	1,221		$	1,410	$	3,996		$	4,438
Base management fee waiver		(173	)		—		(596	)		—
Income Incentive Fee		—			607		408			1,758
Administration fee		338			387		1,031			1,163
Distributions declared to affiliates		515			1,029		1,545			3,087

(1)

For the three and nine months ended September 30, 2025, the Company’s base management fee on OFSCC-FS Assets was reduced by $248 and $771, respectively, pursuant to the fee reduction provided by OFS Advisor on such assets for the year ended December 31, 2025. The base management fee for the three and nine months ended September 30, 2025 is presented net of this fee reduction.

Investments

9 Months Ended

Sep. 30, 2026

Schedule of Investments [Abstract]

Investments

Note 4. Investments

As of September 30, 2026, the Company had loans to 31 portfolio companies, of which approximately 97% were first lien debt investments and 3% were second lien debt investments, at fair value. The Company also had equity investments in 14 portfolio companies and nine investments in Structured Finance Securities. As of September 30, 2026, the Company’s investments consisted of the following:


			Percentage of Total								Percentage of Total
	Amortized Cost		Amortized Cost			Net Assets			Fair Value		Fair Value			Net Assets
First lien debt investments(1)	$	132,536		56.6	%		134.0	%	$	108,291		42.9	%		109.5	%
Second lien debt investments		9,448		4.0	%		9.6	%		2,854		1.1	%		2.9	%
Preferred equity		16,305		7.0	%		16.5	%		17,134		6.8	%		17.3	%
Common equity, warrants and other(2)		26,739		11.4	%		27.1	%		96,738		38.4	%		97.9	%
Total debt and equity investments	$	185,028		79.0	%		187.2	%	$	225,017		89.2	%		227.6	%
Structured Finance Securities		49,142		21.0	%		49.7	%		27,130		10.8	%		27.5	%
Total investments	$	234,170		100.0	%		236.9	%	$	252,147		100.0	%		255.1	%

(1)

(2)


	September 30, 2026				December 31, 2025
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
United States	$	180,041	$	223,731	$	245,902	$	278,274
Canada(1)		4,987		1,286		4,865		2,136
Cayman Islands(1)(2)		44,850		22,830		73,360		57,112
Jersey(1)(2)		4,292		4,300		4,273		4,493
Total investments	$	234,170	$	252,147	$	328,400	$	342,015

(1)

Represents non-qualifying assets under Section 55(a) of the 1940 Act.

(2)

As of September 30, 2026, the industry composition of the Company’s investment portfolio was as follows:


			Percentage of Total								Percentage of Total
Industry	Amortized Cost		Amortized Cost			Net Assets			Fair Value		Fair Value			Net Assets
Administrative and Support and Waste Management and Remediation Services	$	11,170		4.8	%		11.3	%	$	10,925		4.3	%		11.1	%
Construction		1,954		0.8	%		2.0	%		848		0.3	%		0.9	%
Education Services		670		0.3	%		0.7	%		620		0.2	%		0.6	%
Finance and Insurance		3,295		1.4	%		3.3	%		3,072		1.2	%		3.1	%
Health Care and Social Assistance		45,588		19.5	%		46.1	%		18,509		7.4	%		18.6	%
Information		18,871		8.0	%		19.1	%		16,593		6.7	%		16.7	%
Management of Companies and Enterprises		12,551		5.4	%		12.7	%		10,682		4.2	%		10.8	%
Manufacturing		18,472		7.9	%		18.7	%		98,378		39.0	%		99.5	%
Other Services (except Public Administration)		1,952		0.8	%		2.0	%		1,941		0.8	%		2.0	%
Professional, Scientific, and Technical Services		22,780		9.7	%		23.0	%		22,703		9.0	%		23.0	%
Public Administration		703		0.3	%		0.7	%		26		0.0	%		0.0	%
Real Estate and Rental and Leasing		26,659		11.4	%		27.0	%		26,046		10.3	%		26.4	%
Retail Trade		10,785		4.6	%		10.9	%		9,386		3.7	%		9.5	%
Wholesale Trade		9,578		4.1	%		9.7	%		5,288		2.1	%		5.4	%
Total debt and equity investments	$	185,028		79.0	%		187.2	%	$	225,017		89.2	%		227.6	%
Structured Finance Securities		49,142		21.0	%		49.7	%		27,130		10.8	%		27.5	%
Total investments	$	234,170		100.0	%		236.9	%	$	252,147		100.0	%		255.1	%


			Percentage of Total								Percentage of Total
	Amortized Cost		Amortized Cost			Net Assets			Fair Value		Fair Value			Net Assets
First lien debt investments(1)	$	188,236		57.3	%		152.8	%	$	170,405		49.8	%		138.4	%
Second lien debt investments		24,924		7.6	%		20.2	%		9,409		2.8	%		7.6	%
Preferred equity		14,287		4.4	%		11.6	%		12,567		3.7	%		10.2	%
Common equity, warrants and other(2)		23,320		7.1	%		18.9	%		88,029		25.7	%		71.6	%
Total debt and equity investments	$	250,767		76.4	%		203.5	%	$	280,410		82.0	%		227.8	%
Structured Finance Securities		77,633		23.6	%		63.0	%		61,605		18.0	%		49.8	%
Total investments	$	328,400		100.0	%		266.5	%	$	342,015		100.0	%		277.6	%

(1)

(2)

As of December 31, 2025, the industry compositions of the Company’s debt and equity investments were as follows:


			Percentage of Total								Percentage of Total
Industry	Amortized Cost		Amortized Cost			Net Assets			Fair Value		Fair Value			Net Assets
Administrative and Support and Waste Management and Remediation Services	$	11,234		3.4	%		9.1	%	$	11,006		3.2	%		8.9	%
Construction		18,986		5.8	%		15.4	%		9,644		2.8	%		7.8	%
Education Services		17,891		5.4	%		14.5	%		18,023		5.3	%		14.6	%
Finance and Insurance		3,193		1.0	%		2.6	%		3,068		0.9	%		2.5	%
Health Care and Social Assistance		68,571		20.9	%		55.7	%		48,653		14.3	%		39.6	%
Information		23,651		7.2	%		19.2	%		18,136		5.3	%		14.7	%
Management of Companies and Enterprises		12,562		3.8	%		10.2	%		11,419		3.3	%		9.3	%
Manufacturing		22,336		6.8	%		18.1	%		97,061		28.4	%		78.8	%
Other Services (except Public Administration)		1,493		0.5	%		1.2	%		1,498		0.4	%		1.2	%
Professional, Scientific, and Technical Services		19,384		5.9	%		15.7	%		19,451		5.7	%		15.8	%
Public Administration		703		0.2	%		0.6	%		33		0.0	%		0.0	%
Real Estate and Rental and Leasing		25,720		7.8	%		20.9	%		22,507		6.6	%		18.4	%
Retail Trade		13,355		4.1	%		10.8	%		11,895		3.5	%		9.7	%
Wholesale Trade		11,688		3.6	%		9.5	%		8,016		2.3	%		6.5	%
Total debt and equity investments	$	250,767		76.4	%		203.5	%	$	280,410		82.0	%		227.8	%
Structured Finance Securities		77,633		23.6	%		63.0	%		61,605		18.0	%		49.8	%
Total investments	$	328,400		100.0	%		266.5	%	$	342,015		100.0	%		277.6	%

Non-Accrual Loans: Management reviews, for placement on non-accrual status, all loans and CLO mezzanine debt investments that become past due on principal and interest, and/or when there is reasonable doubt that principal or interest will be collected. When a loan is placed on non-accrual status, accrued and unpaid cash interest is reversed. PIK income that has been contractually capitalized to the principal balance of the investment prior to the non-accrual designation date is not reserved against interest or dividend income, but rather is assessed through the valuation of the investment with corresponding adjustments to unrealized appreciation/depreciation, as applicable. Additionally, Net Loan Fees are no longer recognized as of the date the loan is placed on non-accrual status. Depending upon management’s judgment, interest payments subsequently received on non-accrual investments may be recognized as interest income or applied as a reduction to amortized cost. Interest accruals and Net Loan Fee amortization are resumed on non-accrual investments only when they are brought current with respect to principal and interest payments or until a restructuring occurs and, in the judgment of management, it is probable that the Company will collect all principal and interest from the investment. For the three months ended September 30, 2026, loans to portfolio companies with an aggregate amortized cost and fair value of $6,782 and $2,119, respectively, were placed on non-accrual status. Additionally, during the three months ended September 30, 2026, loans to portfolio companies which had previously been on non-accrual status with an aggregate amortized cost and fair value of $9,081 and $301, respectively, were restructured for new debt and equity investments in the portfolio companies. The aggregate amortized cost and fair value of loans on non-accrual status as of September 30, 2026 was $41,710 and $23,411, respectively, and as of December 31, 2025 was $36,567 and $14,400, respectively.

Portfolio Concentration: The following table presents the Company’s portfolio companies based on fair value that comprise greater than 10% of the Company’s total net assets as of September 30, 2026:


							Percentage of Total
Portfolio Company	Investment Type	Industry	Amortized Cost		Fair Value		Fair Value			Net Assets
Pfanstiehl Holdings, Inc.	Common Equity	Manufacturing	$	217	$	87,710		34.8	%		88.7	%
Inergex Holdings, LLC	First Lien Debt	Professional, Scientific, and Technical Services		17,303		17,303		6.9			17.5
Contract Datascan Holdings, Inc.	Preferred and Common Equity, Warrants	Real Estate and Rental and Leasing		13,882		16,860		6.7			17.1
One GI LLC	First Lien Debt	Management of Companies and Enterprises		12,551		10,682		4.2			10.8
Boca Home Care Holdings, Inc.(1)	First Lien Debt, Preferred and Common Equity	Health Care and Social Assistance		10,625		10,128		4.0			10.2
Total			$	54,578	$	142,683		56.6	%		144.3	%

(1)

As of September 30, 2026, the Company had an outstanding commitment of $1,065 to fund the portfolio company’s undrawn revolver facility.

A deterioration in the operating performance of these portfolio investments, or other factors underlying the valuation of these investments, could have a material impact on the Company’s NAV.

- Definition

The entire disclosure for investments owned by investment company.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/946-320/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
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-Subparagraph (SX 210.12-12(Column A)(Footnote 1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12(Column C)(Footnote 8))
-Publisher FASB
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 320
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-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column C)(Footnote 11))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-3

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-Paragraph 6
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column A)(Footnote 8))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-3

+ Details

Organization

9 Months Ended

Sep. 30, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization

Note 1. Organization

OFS Capital Corporation, a Delaware corporation, is an externally managed, closed-end, non-diversified management investment company. The Company has elected to be regulated as a BDC under the 1940 Act. In addition, for income tax purposes, the Company has elected to be treated, and intends to qualify annually, as a RIC under Subchapter M of the Code.

The Company’s investment objective is to provide stockholders with both current income and capital appreciation primarily through debt investments and, to a lesser extent, equity investments.

OFS Advisor manages the day-to-day operations of, and provides investment advisory services to, the Company. In addition, OFS Advisor serves as the investment adviser to HPCI, a non-traded BDC with an investment strategy and objective similar to that of the Company. OFS Advisor also serves as the investment adviser to OCCI, a non-diversified, externally managed, closed-end management investment company that is registered as an investment company under the 1940 Act and that primarily invests in Structured Finance Securities. Additionally, OFS Advisor serves as the investment adviser to separately-managed accounts and sub-advisor to investment companies managed by an affiliate.

The Company may make investments directly or through one or more of its subsidiaries: OFSCC-FS, SBIC I LP or OFSCC-MB.

OFSCC-FS, an indirect wholly owned and consolidated subsidiary of the Company, is a special-purpose vehicle formed in April 2019 for the purpose of acquiring senior secured loan investments. OFSCC-FS has debt financing through its Natixis Facility, which provides OFSCC-FS with borrowing capacity of up to $80,000 during its reinvestment period, subject to a borrowing base and other covenants.

SBIC I LP is an investment company subsidiary previously licensed under the SBA’s small business investment company program that was subject to SBA regulations and policies. On March 1, 2024, SBIC I LP fully repaid its outstanding SBA debentures and, on April 17, 2024, surrendered its license to operate as an SBIC. On October 5, 2026, SBIC I LP admitted a third-party investor as a limited partner, which acquired 56.62% of the limited partnership interests of SBIC I LP. See “Note 11—Subsequent Events—Partial Monetization of Equity Interest” for additional information.

OFSCC-MB is a wholly owned and consolidated subsidiary taxed under subchapter C of the Code that generally holds the Company’s equity investments in portfolio companies that are taxed as pass-through entities.

Consolidated Schedule of Investments In and Advances To Affiliates (Tables)

9 Months Ended

Sep. 30, 2026

Investments in and Advances to Affiliates [Abstract]

Consolidated schedule of investments in and advances to affiliates


		Nine Months Ended September 30, 2026
Name of Portfolio Company	Investment Type (1)	Net Realized Gain (Loss)		Net Change in Unrealized Appreciation/ (Depreciation)			Interest		Dividends		Fees		Total Income (2)		December 31, 2025, Fair Value (5)		Gross Additions (3)		Gross Reductions (4)			September 30, 2026, Fair Value (5)
Affiliate Investments
Contract Datascan Holdings, Inc.	Preferred Equity (7)	$	—	$	3,294		$	—	$	982	$	—	$	982	$	9,201	$	4,276	$	—		$	13,477
	Preferred Equity (7)		—		4			—		293		—		293		2,884		297		—			3,181
	Common Equity (6)		—		—			—		—		—		—		—		—		—			—
	Warrants (6)		—		202			—		—		—		—		—		202		—			202
	Warrants (6)		—		—			—		—		—		—		—		—		—			—
			—		3,500			—		1,275		—		1,275		12,085		4,775		—			16,860

DRS Imaging Services, LLC	Common Equity (6)		—		1,043			—		—		—		—		2,671		1,043		—			3,714

Pfanstiehl Holdings, Inc.	Common Equity		—		8,289			—		874		—		874		79,421		8,289		—			87,710

SSJA Bariatric Management LLC	First Lien Debt		—		(3	)		17		—		1		18		235		1		(3	)		233
	First Lien Debt		—		(2,389	)		179		—		—		179		3,804		239		(2,389	)		1,654
	Common Equity (6)		—		(1,729	)		—		—		—		—		1,729		—		(1,729	)		—
			—		(4,121	)		196		—		1		197		5,768		240		(4,121	)		1,887

Total Affiliate Investments		$	—	$	8,711		$	196	$	2,149	$	1	$	2,346	$	99,945	$	14,347	$	(4,121	)	$	110,171

(1)

(2)

Represents the total amount of interest, fees or dividends included in income for the nine months ended September 30, 2026.

(3)

(4)

(5)

Fair value was determined using significant unobservable inputs. See Note 5 for further details.

(6)

Non-income producing. The Company has not recognized income on the security during the prior twelve-month period preceding the period-end date.

(7)

Dividends recognized as income include PIK dividends contractually earned but not declared.

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2026

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 2. Summary of Significant Accounting Policies

The Company had the following cash and cash equivalents as of September 30, 2026 and December 31, 2025:


	September 30, 2026		December 31, 2025
Cash	$	1,865	$	3,050
Cash equivalents		1,267		309
Total cash and cash equivalents	$	3,132	$	3,359

Borrowings (Tables)

9 Months Ended

Sep. 30, 2026

Line of Credit Facility [Line Items]

Schedule of Debt Instruments

For the three and nine months ended September 30, 2026 and 2025, the components of interest expense, cash paid for interest, average interest rates and average outstanding balances for the Unsecured Notes were as follows:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2026			2025			2026			2025
Stated interest expense	$	2,466		$	2,908		$	7,495		$	7,238
Amortization of debt issuance costs		245			322			750			811
Total interest and debt financing costs	$	2,711		$	3,230		$	8,245		$	8,049
Cash paid for interest expense	$	2,720		$	3,753		$	8,047		$	8,083
Effective interest rate		7.24	%		6.17	%		7.29	%		5.68	%
Average outstanding balance	$	148,565		$	207,815		$	151,139		$	189,374

Schedule of Credit Facilities

For the three and nine months ended September 30, 2026 and 2025, the average dollar borrowings and weighted average effective interest rate on the Company’s outstanding borrowings were as follows:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2026			2025			2026			2025
Average dollar borrowings	$	164,833		$	270,233		$	193,742		$	255,822
Weighted average effective interest rate		7.65	%		6.67	%		7.45	%		6.40	%

Schedule of Scheduled Maturities

The following table shows the scheduled maturities of the principal balances of the Company’s outstanding borrowings as of September 30, 2026:


	Payments due by period
	Total		Less than 1 year		1 to 3 years		3 to 5 years		After 5 years
Banc of California Credit Facility(1)	$	—	$	—	$	—	$	—	$	—
Natixis Facility		25,400		—		—		25,400		—
Unsecured Notes		129,000		—		129,000		—		—
Total	$	154,400	$	—	$	129,000	$	25,400	$	—

(1) As of September 30, 2026, the Banc of California Credit Facility had no outstanding balance and is scheduled to mature on February 28, 2028.

Natixis Facility [Member]

Line of Credit Facility [Line Items]

Schedule of Debt Instruments

For the three and nine months ended September 30, 2026 and 2025, the components of interest expense, cash paid for interest, effective interest rates and average outstanding balances for the Natixis Facility were as follows:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2026			2025			2026			2025
Stated interest expense(1)	$	356		$	—		$	1,563		$	—
Amortization of debt issuance costs		91			—			224			—
Total interest and debt financing costs	$	447		$	—		$	1,787		$	—
Cash paid for interest expense	$	800		$	—		$	1,198		$	—
Effective interest rate		10.95	%		—	%		8.13	%		—	%
Average outstanding balance	$	16,202		$	—		$	29,390		$	—

(1) Stated interest expense includes unused fees.

BNP Facility [Member]

Line of Credit Facility [Line Items]

Schedule of Debt Instruments


	Three Months Ended September 30,						Nine Months Ended September 30,
	2026			2025			2026			2025
Stated interest expense(1)	$	—		$	1,205		$	437		$	3,752
Amortization of debt issuance costs		—			75			37			266
Total interest and debt financing costs	$	—		$	1,280		$	474		$	4,018
Cash paid for interest expense	$	—		$	1,235		$	752		$	3,815
Effective interest rate		—	%		8.14	%		7.12	%		8.25	%
Average outstanding balance	$	—		$	62,418		$	8,902		$	65,084

Banc of California Credit Facility [Member]

Line of Credit Facility [Line Items]

Schedule of Debt Instruments


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026			2025
Stated interest expense	$	1	$	—	$	228		$	80
Amortization of debt issuance costs		19		32		67			95
Total interest and debt financing costs	$	20	$	32	$	295		$	175
Cash paid for interest expense	$	1	$	—	$	235		$	83
Effective interest rate(1)	n/m		n/m			9.15	%	n/m
Average outstanding balance	$	65	$	—	$	4,311		$	1,364

(1) Not meaningful due to a minimal average outstanding balance relative to the size of the total commitment and the amount of commitment fees incurred during the periods.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.9-06)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 3: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-8

Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-6

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480657/210-10-S50-9

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22)(a))
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-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.5-02(22)(b))
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-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 12: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477734/942-470-50-3

+ Details

Organization (Additional Information) (Details) - USD ($) $ in Thousands	Oct. 05, 2026	Sep. 30, 2026
BNP Facility [Member] \| Line of Credit [Member]
Line of Credit Facility [Line Items]
Borrowing capacity (up to)		$ 80,000
SBIC I LP [Member] \| Subsequent Event [Member] \| New Investor [Member]
Line of Credit Facility [Line Items]
Limited partnership interests Acquired	56.62%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Investments - By Portfolio Concentration (Details) - USD ($)
$ in Thousands

Sep. 30, 2026

Dec. 31, 2025

Schedule of Investments [Line Items]

Amortized Cost

$ 234,170

^[1]

$ 328,400

^[2]

Fair Value

$ 252,147

^[1],[3]

$ 342,015

^[2],[4]

Investment Owned, Percent Of Fair Value

100.00%

Investment Owned, Net Assets, Percentage

255.10%

^[1]

277.60%

^[2]

Commitment

$ 3,973

$ 13,226

Portfolio Customers Over Ten Percent

Schedule of Investments [Line Items]

Amortized Cost

54,578

Fair Value

$ 142,683

Investment Owned, Percent Of Fair Value

56.60%

Investment Owned, Net Assets, Percentage

144.30%

Pfanstiehl Holdings, Inc. | Portfolio Customers Over Ten Percent

Schedule of Investments [Line Items]

Amortized Cost

$ 217

Fair Value

$ 87,710

Investment Owned, Percent Of Fair Value

34.80%

Investment Owned, Net Assets, Percentage

88.70%

Inergex Holdings, LLC | Portfolio Customers Over Ten Percent

Schedule of Investments [Line Items]

Amortized Cost

$ 17,303

Fair Value

$ 17,303

Investment Owned, Percent Of Fair Value

6.90%

Investment Owned, Net Assets, Percentage

17.50%

Contract Datascan Holdings, Inc. | Portfolio Customers Over Ten Percent

Schedule of Investments [Line Items]

Amortized Cost

$ 13,882

Fair Value

$ 16,860

Investment Owned, Percent Of Fair Value

6.70%

Investment Owned, Net Assets, Percentage

17.10%

One GI LLC | Portfolio Customers Over Ten Percent

Schedule of Investments [Line Items]

Amortized Cost

$ 12,551

Fair Value

$ 10,682

Investment Owned, Percent Of Fair Value

4.20%

Investment Owned, Net Assets, Percentage

10.80%

Boca Home Care Holdings, Inc. | Portfolio Customers Over Ten Percent

Schedule of Investments [Line Items]

Amortized Cost

^[5]

$ 10,625

Fair Value

^[5]

$ 10,128

Investment Owned, Percent Of Fair Value

^[5]

4.00%

Investment Owned, Net Assets, Percentage

^[5]

10.20%

[1]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[2]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[3]	Unless otherwise noted in footnote 14, fair value was determined using significant unobservable inputs for all of the Company’s investments and are considered Level 3 under GAAP. See Note 5 for further details.
[4]	Unless otherwise noted in footnote 14, fair value was determined using significant unobservable inputs for all of the Company’s investments and are considered Level 3 under GAAP. See Note 5 for further details.
[5]	As of September 30, 2026, the Company had an outstanding commitment of $1,065 to fund the portfolio company’s undrawn revolver facility.

Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2026

Fair Value Disclosures [Abstract]

Schedule of the Company's transfers of Level 2 and Level 3 debt investments


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
Transfers from Level 2 to Level 3	$	—	$	2,519	$	—	$	—
Transfers from Level 3 to Level 2		—		3,954		—		3,954

Schedule of Investment Portfolio Measured at Fair Value on a Recurring Basis

The following tables present the Company’s investment portfolio measured at fair value on a recurring basis as of September 30, 2026 and December 31, 2025:


Security	Level 1		Level 2		Level 3		Fair Value as of September 30, 2026
Debt investments	$	—	$	15,256	$	95,889	$	111,145
Equity investments		—		—		113,872		113,872
Structured Finance Securities		—		—		27,130		27,130
	$	—	$	15,256	$	236,891	$	252,147


Security	Level 1		Level 2		Level 3		Fair Value as of December 31, 2025
Debt investments	$	—	$	14,809	$	165,005	$	179,814
Equity investments		—		—		100,596		100,596
Structured Finance Securities		—		—		61,605		61,605
	$	—	$	14,809	$	327,206	$	342,015

Schedule of the Company's Unobservable Inputs to its Level 3 Fair Value Measurements


	Fair Value at September 30, 2026		Valuation technique	Unobservable inputs	Range (Weighted average)(1)
Debt investments:
First lien	$	44,840	Discounted cash flow	Discount rates	9.36% - 36.00% (12.35%)
		30,268	Market approach	EBITDA multiples	3.00x - 8.00x (5.44x)
		1,887	Market approach	Revenue multiples	0.60x - 0.60x (0.60x)
		16,040	Market approach	Transaction Price
Second lien		976	Market approach	EBITDA multiples	9.00x - 9.00x (9.00x)
		1,878	Market approach	Transaction Price

Structured Finance Securities(2):
Subordinated notes		25,454	Discounted cash flow	Discount rates	19.00% - 70.00% (33.57%)
				Constant default rate	2.00% - 2.00% (2.00%)
				Recovery rate	65.00% - 65.00% (65.00%)
Mezzanine debt		1,676	Discounted cash flow	Discount margin	20.0% - 20.0% (20.00%)
				Constant default rate	2.00% - 2.00% (2.00%)
				Recovery rate	65.00% - 65.00% (65.00%)

Equity investments:
Preferred equity		16,766	Market approach	EBITDA multiples	6.75x - 8.50x (8.49x)
		368	Market approach	Transaction Price
Common equity, warrants and other		8,294	Market approach	EBITDA multiples	4.50x - 14.00x (8.48x)
		—	Market approach	Revenue multiples	0.60x - 0.60x (0.60x)
		88,444	Market approach	Transaction Price
	$	236,891

(1)

Weighted average is calculated based on the fair value of investments.

(2)


	Fair Value at December 31, 2025		Valuation technique	Unobservable inputs	Range (Weighted average)(1)
Debt investments:
First lien	$	115,014	Discounted cash flow	Discount rates	8.61% - 37.50% (12.77%)
		21,925	Market approach	EBITDA multiples	3.00x - 8.00x (6.11x)
		8,225	Market approach	Revenue multiples	0.35x - 0.50x (0.35x)
		10,432	Market approach	Transaction Price
Second lien		2,500	Discounted cash flow	Discount rates	13.70% - 13.70% (13.70%)
		448	Market approach	EBITDA multiples	9.00x - 9.00x (9.00x)
		6,461	Market approach	Revenue multiples	0.35x - 0.90x (0.70x)

Structured Finance Securities:
Subordinated notes(2)		53,368	Discounted cash flow	Discount rates	13.00% - 27.50% (18.73%)
				Constant default rate	2.00% - 3.00% (2.08%)
				Recovery rate	65.00% - 65.00% (65.00%)
Mezzanine debt(2)		8,074	Discounted cash flow	Discount margin	9.10% - 10.70% (9.62%)
				Constant default rate	2.00% - 2.00% (2.00%)
				Recovery rate	65.00% - 65.00% (65.00%)
Subordinated notes		163	Market approach	Net asset value liquidation(3)

Equity investments:
Preferred equity		12,448	Market approach	EBITDA multiples	7.25x - 8.50x (8.46x)
		119	Market approach	Revenue multiples	0.50x - 0.50x (0.50x)
Common equity, warrants and other		88,029	Market approach	EBITDA multiples	6.00x - 14.75x (12.33x)
Common equity, warrants and other		—	Market approach	Revenue multiples	0.35x - 0.50x (0.44x)
	$	327,206

(1)

Weighted average is calculated based on the fair value of investments.

(2)

(3)

NAV liquidation represents the fair value, or estimated expected residual value, of the investment.

Schedule of Significant Level 3 Inputs

The following tables present changes in investments measured at fair value using Level 3 inputs for the nine months ended September 30, 2026 and 2025:


	Nine Months Ended September 30, 2026
	First Lien Debt Investments			Second Lien Debt Investments			Preferred Equity			Common Equity, Warrants and Other			Structured Finance Securities			Total
Level 3 assets, December 31, 2025	$	155,596		$	9,409		$	12,567		$	88,029		$	61,605		$	327,206
Net realized loss on investments		(1,032	)		(4,356	)		(9	)		(4,722	)		(13,882	)		(24,001	)
Net unrealized appreciation (depreciation) on investments		(5,773	)		8,921			2,549			5,291			(5,984	)		5,004
Amortization of Net Loan Fees		371			—			—			—			8			379
Accretion of interest income on Structured Finance Securities		—			—			—			—			6,185			6,185
Capitalized PIK interest and dividends		427			—			1,275			—			—			1,702
Amendment fees received		(45	)		—			—			—			—			(45	)
Purchase and origination of portfolio investments		4,469			—			—			—			—			4,469
Proceeds from principal payments on portfolio investments		(46,336	)		(2,228	)		—			—			—			(48,564	)
Sale and redemption of portfolio investments		(14,642	)		—			—			—			(13,358	)		(28,000	)
Conversion from debt investments to equity investments		—			(8,892	)		752			8,140			—			—
Proceeds from distributions received from portfolio investments		—			—			—			—			(7,444	)		(7,444	)
Level 3 assets, September 30, 2026	$	93,035		$	2,854		$	17,134		$	96,738		$	27,130		$	236,891


	Nine Months Ended September 30, 2025
	First Lien Debt Investments			Second Lien Debt Investments			Preferred Equity			Common Equity, Warrants and Other			Structured Finance Securities			Total
Level 3 assets, December 31, 2024	$	168,037		$	34,331		$	12,248		$	96,337		$	76,875		$	387,828
Net realized loss on investments		(39	)		(3,442	)		—			—			(6,933	)		(10,414	)
Net unrealized appreciation (depreciation) on investments		(2,847	)		576			(2,936	)		(13,896	)		(483	)		(19,586	)
Amortization of Net Loan Fees		359			196			—			—			86			641
Accretion of interest income on Structured Finance Securities		—			—			—			—			8,694			8,694
Capitalized PIK interest and dividends		355			850			935			—			—			2,140
Amendment fees received		(58	)		—			—			—			—			(58	)
Purchase and origination of portfolio investments		20,213			—			2,750			—			18,041			41,004
Proceeds from principal payments on portfolio investments		(8,612	)		(7,061	)		—			—			(7,000	)		(22,673	)
Sale and redemption of portfolio investments		(6,626	)		(979	)		—			—			(12,048	)		(19,653	)
Conversion from debt investments to equity investments		(2,992	)		—			—			2,992			—			—
Proceeds from distributions received from portfolio investments		—			—			—			—			(11,055	)		(11,055	)
Transfers from Level 3 to Level 2		(3,954	)		—			—			—			—			(3,954	)
Level 3 assets, September 30, 2025	$	163,836		$	24,471		$	12,997		$	85,433		$	66,177		$	352,914


	Nine Months Ended September 30,
	2026			2025
Debt investments	$	(10,980	)	$	(3,656	)
Equity investments		3,109			(16,833	)
Structured Finance Securities		(10,459	)		(5,859	)
Net unrealized depreciation on investments held	$	(18,330	)	$	(26,348	)

Schedule of Carrying Values and Fair Values of Debt

The following table sets forth carrying values and fair values of the Company’s debt as of September 30, 2026 and December 31, 2025:


	September 30, 2026				December 31, 2025
Description	Carrying Value(1)		Fair Value		Carrying Value(1)		Fair Value
Banc of California Credit Facility(2)	$	—	$	—	$	4,500	$	4,500
BNP Facility(3)		—		—		50,950		50,950
Natixis Facility		25,400		25,400		—		—
Unsecured Notes Due February 2026(4)		—		—		15,988		15,961
Unsecured Notes Due July 2028(5)		48,243		50,960		67,498		70,877
Unsecured Notes Due October 2028		54,573		52,448		54,420		52,118
Unsecured Note Due August 2029		24,432		24,400		24,282		25,333
Total debt	$	152,648	$	153,208	$	217,638	$	219,739

(1)

Carrying value is calculated as the outstanding principal amount less unamortized deferred debt issuance costs.

(2)

As of September 30, 2026, the Banc of California Credit Facility had no outstanding balance.

(3)

On February 18, 2026, in connection with the closing of the Natixis Facility, OFSCC-FS repaid in full all outstanding obligations due, and terminated all commitments, under the BNP Facility.

(4)

On February 9, 2026, the Company redeemed the remainder of the outstanding Unsecured Notes Due February 2026.

(5)

On September 29, 2026, the Company redeemed $20,000 of the outstanding Unsecured Notes Due July 2028.


	September 30, 2026
Description	Level 1(1)		Level 2		Level 3(2)		Total
Banc of California Credit Facility	$	—	$	—	$	—	$	—
Natixis Facility		—		—		25,400		25,400
Unsecured Notes Due July 2028		50,960		—		—		50,960
Unsecured Notes Due October 2028		52,448		—		—		52,448
Unsecured Note Due August 2029		—		—		24,400		24,400
Total debt, at fair value	$	103,408	$	—	$	49,800	$	153,208


	December 31, 2025
Description	Level 1(1)		Level 2		Level 3(2)		Total
Banc of California Credit Facility	$	—	$	—	$	4,500	$	4,500
BNP Facility		—		—		50,950		50,950
Unsecured Notes Due February 2026		—		—		15,961		15,961
Unsecured Notes Due July 2028		70,877		—		—		70,877
Unsecured Notes Due October 2028		52,118		—		—		52,118
Unsecured Note Due August 2029		—		—		25,333		25,333
Total debt, at fair value	$	122,995	$	—	$	96,744	$	219,739

(1)

For Level 1 measurements, fair value is estimated by using the closing price of the security on The Nasdaq Global Select Market.

(2)

For Level 3 measurements, fair value is estimated through discounting remaining payments using current market rates for similar instruments at the measurement date through the legal maturity date.

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References + Details

Related Party Transactions

9 Months Ended

Sep. 30, 2026

Related Party Transactions

Note 3. Related Party Transactions

Investment Advisory and Management Agreement: OFS Advisor manages the day-to-day operations of, and provides investment advisory services to, the Company pursuant to the Investment Advisory Agreement. The continuation of the Investment Advisory Agreement was most recently approved by the Board on April 2, 2026. Under the terms of the Investment Advisory Agreement, which are in accordance with the 1940 Act and subject to the overall supervision of the Board, OFS Advisor is responsible for sourcing potential investments, conducting research and diligence on potential investments and equity sponsors, analyzing investment opportunities, structuring investments, and monitoring investments and portfolio companies on an ongoing basis.

OFS Advisor’s services under the Investment Advisory Agreement are not exclusive to the Company and OFS Advisor is free to furnish similar services to other entities, including other funds affiliated with OFS Advisor, so long as its services to the Company are not impaired. OFS Advisor also serves as the investment adviser or sub-adviser to various clients, including HPCI and OCCI.

OFS Advisor receives fees for providing services to the Company, consisting of two components: a base management fee and an incentive fee. The base management fee is calculated at an annual rate of 1.75% and based on the average value of the Company’s total assets (other than cash and cash equivalents, but including assets purchased with borrowed amounts and assets owned by any consolidated entity) at the end of the two most recently completed calendar quarters, adjusted for any share issuances or repurchases during the quarter.

On April 17, 2026, June 23, 2026 and September 16, 2026, OFS Advisor agreed to waive a portion of its base management fee for the quarters ended March 31, 2026, June 30, 2026 and September 30, 2026, respectively, attributable to all of the OFSCC-FS Assets to 0.25% per quarter (1.00% annualized) of the average value of the OFSCC-FS Assets (other than cash and cash equivalents, but including assets purchased with borrowed amounts) at the end of the two most recently completed calendar quarters. Prior to January 1, 2026, OFS Advisor had contractually agreed to reduce its base management fee for the entire year at the beginning of the year. As of September 30, 2026, there is no active ongoing fee waiver or reduction agreement in place with OFS Advisor for the remainder of 2026.

For the year ended December 31, 2025, OFS Advisor agreed to reduce its base management fee attributable to all of the OFSCC-FS Assets to 0.25% per quarter (1.00% annualized) of the average value of the OFSCC-FS Assets (other than cash and cash equivalents, but including assets purchased with borrowed amounts) at the end of the two most recently completed calendar quarters.

OFS Advisor is not entitled to recoup the amount of the base management fee waived or reduced with respect to the OFSCC-FS Assets. The fee waivers and reductions were provided at OFS Advisor’s discretion; there can be no assurance that similar fee waivers or reductions will be provided in future periods.

The incentive fee has two parts. The first part of the incentive fee (the “Income Incentive Fee”) is calculated and payable quarterly in arrears based on the Company’s pre-incentive fee net investment income for the immediately preceding calendar quarter. For this

purpose, pre-incentive fee net investment income means interest income, dividend income and any other income (including any other fees such as commitment, syndication and consulting fees or other fees that the Company receives from portfolio companies, but excluding fees for providing managerial assistance) accrued during the calendar quarter, minus operating expenses for the quarter (including the base management fee, any expenses payable under the Administration Agreement and any interest expense and dividends paid on any outstanding preferred stock, but excluding the incentive fee). Pre-incentive fee net investment income includes, in the case of investments with a deferred interest or dividend feature (such as OID, debt instruments with PIK interest, equity investments with accruing or PIK dividend and zero coupon securities), accrued income that the Company has not yet received in cash.

Pre-incentive fee net investment income is expressed as a rate of return on the value of the Company’s net assets (defined as total assets less indebtedness and before taking into account any incentive fees payable during the period) at the end of the immediately preceding calendar quarter and adjusted for any share issuances or repurchases during such quarter.

The incentive fee with respect to pre-incentive fee net income is 20.0% of the amount, if any, by which the pre-incentive fee net investment income for the immediately preceding calendar quarter exceeds a 2.0% hurdle rate (which is 8.0% annualized) and a “catch-up” provision measured as of the end of each calendar quarter. Under this provision, in any calendar quarter, OFS Advisor receives no incentive fee until the net investment income equals the hurdle rate of 2.0%, but then receives, as a “catch-up,” 100.0% of the pre-incentive fee net investment income with respect to that portion of such pre-incentive fee net investment income, if any, that exceeds the hurdle rate but is less than 2.5%. The effect of this provision is that, if pre-incentive fee net investment income exceeds 2.5% in any calendar quarter, OFS Advisor will receive 20.0% of the pre-incentive fee net investment income.

Pre-incentive fee net investment income does not include any realized capital gains, realized capital losses or unrealized capital appreciation or depreciation. Because of the structure of the incentive fee, it is possible that the Company may pay an incentive fee in a quarter in which the Company incurs a loss. For example, if the Company receives pre-incentive fee net investment income in excess of the quarterly minimum hurdle rate, the Company will pay the applicable incentive fee even if the Company has incurred a loss in that quarter due to realized and unrealized capital losses. The Company’s net investment income used to calculate this part of the incentive fee is also included in the amount of the Company’s gross assets used to calculate the base management fee. These calculations are appropriately prorated for any period of less than three months.

The second part of the incentive fee (the “Capital Gains Fee”) is determined and payable in arrears as of the end of each calendar year (or upon termination of the Investment Advisory Agreement, as of the termination date), and equals 20.0% of the Company’s aggregate realized capital gains, if any, on a cumulative basis from the date of the election to be a BDC through the end of each calendar year, computed net of all realized capital losses, losses on extinguishment of debt, income taxes from realized capital gains and unrealized capital depreciation through the end of such year, less all previous amounts paid in respect of the Capital Gains Fee. Since inception through September 30, 2026, the Company has not made a Capital Gains Fee payment.

The Company accrues the Capital Gains Fee if, on a cumulative basis, the sum of net realized capital gains (losses) plus net unrealized appreciation (depreciation) is positive. An accrued Capital Gains Fee relating to net unrealized appreciation is deferred, and not due to OFS Advisor, until the close of the year in which such gains are realized. If, on a cumulative basis, the sum of net realized capital gains (losses) plus net unrealized appreciation (depreciation) decreases during a period, the Company will reverse any excess Capital Gains Fee previously accrued such that the amount of Capital Gains Fee accrued is no more than 20% of the sum of net realized capital gains (losses) plus net unrealized appreciation (depreciation). As of September 30, 2026 and December 31, 2025, there were no accrued Capital Gains Fees.

License Agreement: The Company entered into a license agreement with OFSAM under which OFSAM has granted the Company a non-exclusive, royalty-free license to use the name “OFS.”

Administration Agreement: OFS Services furnishes the Company with office facilities and equipment, necessary software licenses and subscriptions, and clerical, bookkeeping and record keeping services at such facilities pursuant to the Administration Agreement. The continuation of the Administration Agreement was most recently approved by the Board on April 2, 2026. Under the Administration Agreement, OFS Services performs, or oversees the performance of, the Company’s required administrative services, which include being responsible for the financial records that the Company is required to maintain and preparing reports to its stockholders and all other reports and materials required to be filed with the SEC or any other regulatory authority. In addition, OFS Services assists the Company in determining and publishing its net asset value, oversees the preparation and filing of its tax returns and the printing and dissemination of reports to its stockholders, and generally oversees the payment of the Company’s expenses and the performance of administrative and professional services rendered to the Company by others. Under the Administration Agreement, OFS Services also provides managerial assistance on the Company’s behalf to those portfolio companies that have accepted the Company’s offer to provide such assistance. Payment under the Administration Agreement is equal to an amount based upon the Company’s allocable portion of OFS Services’s overhead in performing its obligations under the Administration Agreement,

including, but not limited to, rent, information technology services and the Company’s allocable portion of the cost of its officers, including its chief executive officer, chief financial officer, chief compliance officer and their respective staffs. To the extent that OFS Services outsources any of its functions, the Company will pay the fees associated with such functions on a direct basis without profit to OFS Services.

Equity Ownership: As of September 30, 2026, affiliates of OFS Advisor held approximately 3,031,366 shares of common stock, which is approximately 22.6% of the Company’s outstanding shares of common stock.

Expenses recognized under agreements with OFS Advisor and OFS Services and distributions paid to affiliates for the three and nine months ended September 30, 2026 and 2025 are presented below:


	Three months ended September 30,					Nine Months Ended September 30,
	2026			2025		2026			2025
Base management fee(1)	$	1,221		$	1,410	$	3,996		$	4,438
Base management fee waiver		(173	)		—		(596	)		—
Income Incentive Fee		—			607		408			1,758
Administration fee		338			387		1,031			1,163
Distributions declared to affiliates		515			1,029		1,545			3,087

(1)

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

+ Details

Borrowings - Natixis Facility Interest Expense and Average Outstanding Balance (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2026

Sep. 30, 2025

Sep. 30, 2026

Sep. 30, 2025

Debt Instrument [Line Items]

Amortization of debt issuance costs

$ 1,078

$ 1,172

Cash paid for interest expense

$ 10,232

$ 11,981

Effective interest rate

7.65%

6.67%

7.45%

6.40%

Average outstanding balance

$ 164,833

$ 270,233

$ 193,742

$ 255,822

Natixis Facility [Member]

Debt Instrument [Line Items]

Stated interest expense

^[1]

356

1,563

Amortization of debt issuance costs

224

Total interest and debt financing costs

447

1,787

Cash paid for interest expense

$ 800

$ 1,198

$ 0

Effective interest rate

10.95%

8.13%

0.00%

Average outstanding balance

$ 16,202

$ 0

$ 29,390

$ 0

[1]	(1) Stated interest expense includes unused fees.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F

Reference 38: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F

Reference 39: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F

Reference 40: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 41: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 42: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482900/835-30-50-1

+ Details

Borrowings - Unsecured Notes Narrative (Details) - USD ($) $ in Thousands					3 Months Ended		9 Months Ended
	Sep. 29, 2026	Jan. 08, 2026	Aug. 08, 2025	Jul. 23, 2025	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025	Dec. 31, 2025	Nov. 01, 2021	Feb. 10, 2021
Debt Instrument [Line Items]
Interest rate					6.34%		6.34%
Net proceeds							$ 0	$ 91,870
Redemption of debt							36,000	94,000
Cash paid for interest expense							10,232	11,981
Loss on extinguishment of debt					$ 310	$ 492	440	492
Unsecured Notes
Debt Instrument [Line Items]
Principal					129,000		129,000		$ 165,000
Cash paid for interest expense					2,720	$ 3,753	8,047	$ 8,083
Unsecured Notes
Debt Instrument [Line Items]
Interest rate											4.75%
Principal					0		0				$ 125,000
Redemption of debt		$ 16,000
Cash paid for interest expense		$ 378
Unsecured Notes Due July 2028
Debt Instrument [Line Items]
Interest rate				7.50%
Principal				$ 69,000
Underwriting fees				1,380
Offering expenses				326
Net proceeds				67,294
Unsecured Notes Due July 2028 \| Unsecured Notes
Debt Instrument [Line Items]
Principal					$ 49,000		$ 49,000
Redemption of debt	$ 20,000
Cash paid for interest expense	246
Loss on extinguishment of debt	$ (310)
Unsecured Notes due October 2028
Debt Instrument [Line Items]
Interest rate					4.95%		4.95%
Principal										$ 55,000
Unsecured Note Due August 2029
Debt Instrument [Line Items]
Interest rate			8.00%
Principal			$ 25,000
Underwriting fees			750
Offering expenses			48
Net proceeds			$ 24,202
Unsecured Notes Due July 2028, Overallotments
Debt Instrument [Line Items]
Principal				$ 9,000

Investments - By Portfolio Concentration (Parenthetical) (Details) - USD ($) $ in Thousands	Sep. 30, 2026	Dec. 31, 2025
Schedule of Investments [Line Items]
Commitment	$ 3,973	$ 13,226
Investment, Identifier [Axis]: 12 Interactive, LLC (D/B/A PerkSpot), First Lien Debt (Revolver)
Schedule of Investments [Line Items]
Commitment		660
Investment, Identifier [Axis]: Associated Spring, LLC, First Lien Debt (Delayed Draw)
Schedule of Investments [Line Items]
Commitment		1,483
Investment, Identifier [Axis]: Avison Young Inc. , First Lien Debt (Delayed Draw)
Schedule of Investments [Line Items]
Commitment		34
Investment, Identifier [Axis]: Boca Home Care Holdings, Inc., First Lien Debt
Schedule of Investments [Line Items]
Commitment	1,065
Investment, Identifier [Axis]: Boca Home Care Holdings, Inc., First Lien Debt (Revolver)
Schedule of Investments [Line Items]
Commitment	1,065	1,065
Investment, Identifier [Axis]: Clevertech Bidco, LLC, First Lien Debt (Revolver)
Schedule of Investments [Line Items]
Commitment	76	182
Investment, Identifier [Axis]: ESP Associates, Inc. First Lien Debt (Delayed Draw)
Schedule of Investments [Line Items]
Commitment	9
Investment, Identifier [Axis]: ESP Associates, Inc. First Lien Debt (Revolver)
Schedule of Investments [Line Items]
Commitment	33
Investment, Identifier [Axis]: Envocore Holding, LLC (F/K/A LRI Holding, LLC), First Lien Debt (Revolver)
Schedule of Investments [Line Items]
Commitment		2,569
Investment, Identifier [Axis]: Honor HN Buyer Inc., First Lien Debt (Delayed Draw)
Schedule of Investments [Line Items]
Commitment		3,062
Investment, Identifier [Axis]: Honor HN Buyer Inc., First Lien Debt (Revolver)
Schedule of Investments [Line Items]
Commitment	119	328
Investment, Identifier [Axis]: I Love Produce, LLC First Lien Debt (Delayed Draw)
Schedule of Investments [Line Items]
Commitment	152
Investment, Identifier [Axis]: I Love Produce, LLC First Lien Debt (Revolver)
Schedule of Investments [Line Items]
Commitment	20
Investment, Identifier [Axis]: Integrated Energy Services, LLC, First Lien Debt (Delayed Draw)
Schedule of Investments [Line Items]
Commitment	300	300
Investment, Identifier [Axis]: Integrated Energy Services, LLC, First Lien Debt (Revolver)
Schedule of Investments [Line Items]
Commitment	105	150
Investment, Identifier [Axis]: MP Design, LLC First Lien Debt (Revolver)
Schedule of Investments [Line Items]
Commitment	250
Investment, Identifier [Axis]: Medrina LLC, First Lien Debt (Revolver)
Schedule of Investments [Line Items]
Commitment	319	319
Investment, Identifier [Axis]: PSB Group, LLC, First Lien Debt (Revolver)
Schedule of Investments [Line Items]
Commitment	1,059	653
Investment, Identifier [Axis]: SS Acquisition, LLC, First Lien Debt (Revolver)
Schedule of Investments [Line Items]
Commitment		1,286
Investment, Identifier [Axis]: SSJA Bariatric Management LLC, First Lien Debt (Delayed Draw)
Schedule of Investments [Line Items]
Commitment	157	157
Investment, Identifier [Axis]: Tolemar Acquisition, Inc., First Lien Debt (Revolver)
Schedule of Investments [Line Items]
Commitment	$ 309	$ 978

Fair Value of Financial Instruments - Transfers Between Levels (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Fair Value Disclosures [Abstract]
Transfers from Level 2 to Level 3	$ 0	$ 2,519	$ 0
Transfers from Level 3 to Level 2	$ 0	$ 3,954	$ 0	$ 3,954

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025
Cash flows from operating activities
us-gaap:NetIncomeLoss	$ (17,526)	$ (22,245)
Adjustments to reconcile net decrease in net assets resulting from operations to net cash provided by operating activities:
Net realized loss on investments, net of taxes	25,143	11,424
Loss on extinguishment of debt	440	492
Net unrealized (appreciation) depreciation on investments, net of deferred taxes	(3,866)	20,017
Amortization of Net Loan Fees	(522)	(705)
Amendment fees received	45	58
Payment-in-kind interest and dividend income	(1,702)	(2,140)
Accretion of interest income on Structured Finance Securities	(6,185)	(8,694)
Amortization of deferred debt issuance costs	1,078	1,172
Purchase and origination of portfolio investments	(11,924)	(41,004)
Proceeds from principal payments on portfolio investments	48,891	22,804
Proceeds from sale or redemption of portfolio investments	32,903	26,702
Proceeds from distributions received from portfolio investments	7,444	11,055
Changes in operating assets and liabilities:
Interest and dividend receivable	389	552
Receivable for investments sold	(2,390)	8,268
Interest payable	(509)	(911)
Payable to adviser and affiliates	(719)	(473)
Payable for investments purchased	1,461	(1,802)
Other assets and liabilities	(479)	(310)
Net cash provided by operating activities	71,972	24,260
Cash flows from financing activities
Distributions paid to common stockholders	(4,555)	(13,666)
Borrowings under revolving lines of credit	102,000	15,250
Repayments under revolving lines of credit	(132,050)	(24,400)
Proceeds from Unsecured Notes issuances, net of commissions and discounts	0	91,870
Redemption of Unsecured Notes	(36,000)	(94,000)
Payment of deferred financing costs	(1,594)	(374)
Net cash used in financing activities	(72,199)	(25,320)
Net decrease in cash and cash equivalents	(227)	(1,060)
Beginning of period	3,359	6,068
End of period	3,132	5,008
Supplemental Disclosure of Cash Flow Information:
Cash paid for interest	10,232	11,981
Supplemental Disclosure of Non-Cash Activities:
Reclassification of deferred offering costs from the issuance of Unsecured Notes	$ 0	$ 52

Fair Value of Financial Instruments - Carrying Values and Fair Values of Debt (Details) - USD ($)
$ in Thousands

Sep. 30, 2026

Dec. 31, 2025

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

$ 153,208

$ 219,739

Level 1

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[1]

103,408

122,995

Level 2

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

Level 3

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[2]

49,800

96,744

Carrying Value

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[3]

152,648

217,638

Fair Value

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

153,208

219,739

Banc of California Credit Facility | Line of Credit | Revolving Credit Facility

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

4,500

Banc of California Credit Facility | Line of Credit | Revolving Credit Facility | Level 1

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[1]

Banc of California Credit Facility | Line of Credit | Revolving Credit Facility | Level 2

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

Banc of California Credit Facility | Line of Credit | Revolving Credit Facility | Level 3

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[2]

4,500

Banc of California Credit Facility | Line of Credit | Revolving Credit Facility | Carrying Value

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[3],[4]

4,500

Banc of California Credit Facility | Line of Credit | Revolving Credit Facility | Fair Value

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[4]

4,500

BNP Facility | Line of Credit | Revolving Credit Facility

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

50,950

BNP Facility | Line of Credit | Revolving Credit Facility | Level 1

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[1]

BNP Facility | Line of Credit | Revolving Credit Facility | Level 2

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

BNP Facility | Line of Credit | Revolving Credit Facility | Level 3

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[2]

50,950

BNP Facility | Line of Credit | Revolving Credit Facility | Carrying Value

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[3],[5]

50,950

BNP Facility | Line of Credit | Revolving Credit Facility | Fair Value

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[5]

50,950

Natixis Facility [Member] | Line of Credit | Revolving Credit Facility

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

25,400

Natixis Facility [Member] | Line of Credit | Revolving Credit Facility | Level 1

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[1]

Natixis Facility [Member] | Line of Credit | Revolving Credit Facility | Level 2

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

Natixis Facility [Member] | Line of Credit | Revolving Credit Facility | Level 3

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[2]

25,400

Natixis Facility [Member] | Line of Credit | Revolving Credit Facility | Carrying Value

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[3]

25,400

Natixis Facility [Member] | Line of Credit | Revolving Credit Facility | Fair Value

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

25,400

Unsecured Notes | Unsecured Notes

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

15,961

Unsecured Notes | Unsecured Notes | Level 1

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[1]

Unsecured Notes | Unsecured Notes | Level 2

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

Unsecured Notes | Unsecured Notes | Level 3

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[2]

15,961

Unsecured Notes | Unsecured Notes | Carrying Value

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[3],[6]

15,988

Unsecured Notes | Unsecured Notes | Fair Value

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[6]

15,961

Unsecured Notes Due July 2028 | Unsecured Notes

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

50,960

70,877

Unsecured Notes Due July 2028 | Unsecured Notes | Level 1

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[1]

50,960

70,877

Unsecured Notes Due July 2028 | Unsecured Notes | Level 2

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

Unsecured Notes Due July 2028 | Unsecured Notes | Level 3

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[2]

Unsecured Notes Due July 2028 | Unsecured Notes | Carrying Value

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[3],[7]

48,243

67,498

Unsecured Notes Due July 2028 | Unsecured Notes | Fair Value

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[7]

50,960

70,877

Unsecured Notes due October 2028 | Unsecured Notes

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

52,448

52,118

Unsecured Notes due October 2028 | Unsecured Notes | Level 1

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[1]

52,448

52,118

Unsecured Notes due October 2028 | Unsecured Notes | Level 2

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

Unsecured Notes due October 2028 | Unsecured Notes | Level 3

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[2]

Unsecured Notes due October 2028 | Unsecured Notes | Carrying Value

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[3]

54,573

54,420

Unsecured Notes due October 2028 | Unsecured Notes | Fair Value

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

52,448

52,118

Unsecured Note Due August 2029 | Unsecured Notes

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

24,400

25,333

Unsecured Note Due August 2029 | Unsecured Notes | Level 1

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[1]

Unsecured Note Due August 2029 | Unsecured Notes | Level 2

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

Unsecured Note Due August 2029 | Unsecured Notes | Level 3

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[2]

24,400

25,333

Unsecured Note Due August 2029 | Unsecured Notes | Carrying Value

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

^[3]

24,432

24,282

Unsecured Note Due August 2029 | Unsecured Notes | Fair Value

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total debt

$ 24,400

$ 25,333

[1]	For Level 1 measurements, fair value is estimated by using the closing price of the security on The Nasdaq Global Select Market.
[2]	For Level 3 measurements, fair value is estimated through discounting remaining payments using current market rates for similar instruments at the measurement date through the legal maturity date.
[3]	Carrying value is calculated as the outstanding principal amount less unamortized deferred debt issuance costs.
[4]	As of September 30, 2026, the Banc of California Credit Facility had no outstanding balance.
[5]	On February 18, 2026, in connection with the closing of the Natixis Facility, OFSCC-FS repaid in full all outstanding obligations due, and terminated all commitments, under the BNP Facility.
[6]	On February 9, 2026, the Company redeemed the remainder of the outstanding Unsecured Notes Due February 2026.
[7]	On September 29, 2026, the Company redeemed $20,000 of the outstanding Unsecured Notes Due July 2028.

Capital Transactions - Distributions (Details) - USD ($)
$ / shares in Units, $ in Thousands

9 Months Ended

Sep. 30, 2026

Sep. 30, 2025

Dividends Payable [Line Items]

Amount Per Share (in usd per share)

$ 0.51

$ 1.02

Cash Distribution

$ 6,833

$ 13,666

O 2026 Q1 Aggregate Dividends [Member]

Dividends Payable [Line Items]

Amount Per Share (in usd per share)

$ 0.17

Cash Distribution

^[1]

$ 2,278

O 2026 Q2 Aggregate Dividends [Member]

Dividends Payable [Line Items]

Amount Per Share (in usd per share)

$ 0.17

Cash Distribution

^[1]

$ 2,277

O 2026 Q3 Aggregate Dividends [Member]

Dividends Payable [Line Items]

Amount Per Share (in usd per share)

$ 0.17

Cash Distribution

^[1]

$ 2,278

O 2025 Q1 Aggregate Dividends [Member]

Dividends Payable [Line Items]

Amount Per Share (in usd per share)

$ 0.34

Cash Distribution

^[1]

$ 4,555

O 2025 Q2 Aggregate Dividends [Member]

Dividends Payable [Line Items]

Amount Per Share (in usd per share)

$ 0.34

Cash Distribution

^[1]

$ 4,556

O 2025 Q3 Aggregate Dividends [Member]

Dividends Payable [Line Items]

Amount Per Share (in usd per share)

$ 0.34

Cash Distribution

^[1]

$ 4,555

[1]	During the nine months ended September 30, 2026 and 2025, the Company directed the DRIP plan administrator to purchase shares on the open market in order to satisfy the obligation to deliver shares of common stock. Accordingly, the Company purchased shares to satisfy the DRIP obligation as follows

Fair Value of Financial Instruments - Significant Level 3 Inputs (Details)
$ in Thousands

Sep. 30, 2026

USD ($)

Dec. 31, 2025

USD ($)

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value

$ 252,147

^[1],[2]

$ 342,015

^[3],[4]

Level 3

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value

236,891

327,206

Level 3 | Discounted cash flow | First lien debt investments | Discount rates

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value

44,840

115,014

Level 3 | Discounted cash flow | Second lien debt investments | Discount rates

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value

2,500

Level 3 | Discounted cash flow | Subordinated notes | Discount rates

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value

^[5]

25,454

53,368

^[6]

Level 3 | Discounted cash flow | Mezzanine debt

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value

^[5]

1,676

8,074

^[6]

Level 3 | Market approach | First lien debt investments | EBITDA multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value

30,268

21,925

Level 3 | Market approach | First lien debt investments | Revenue multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value

1,887

8,225

Level 3 | Market approach | First lien debt investments | Transaction price

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value

16,040

10,432

Level 3 | Market approach | Second lien debt investments | EBITDA multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value

976

448

Level 3 | Market approach | Second lien debt investments | Revenue multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value

6,461

Level 3 | Market approach | Second lien debt investments | Transaction price

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value

1,878

Level 3 | Market approach | Subordinated notes | Net asset value liquidation

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value

163

Level 3 | Market approach | Preferred Stock [Member] | EBITDA multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value

16,766

12,448

Level 3 | Market approach | Preferred Stock [Member] | Revenue multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value

368

119

Level 3 | Market approach | Common equity, warrants and other | EBITDA multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value

8,294

88,029

Level 3 | Market approach | Common equity, warrants and other | Revenue multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value

$ 88,444

$ 0

Level 3 | Minimum | Discounted cash flow | First lien debt investments | Discount rates

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

0.0936

^[7]

861

^[8]

Level 3 | Minimum | Discounted cash flow | Second lien debt investments | Discount rates

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[8]

1,370

Level 3 | Minimum | Discounted cash flow | Subordinated notes | Discount rates

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[5]

0.19

^[7]

1,300

^[6],[8]

Level 3 | Minimum | Discounted cash flow | Subordinated notes | Constant default rate

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[5]

0.02

^[7]

200

^[6],[8]

Level 3 | Minimum | Discounted cash flow | Subordinated notes | Recovery rate

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[5]

0.65

^[7]

6,500

^[6],[8]

Level 3 | Minimum | Discounted cash flow | Mezzanine debt | Constant default rate

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[5]

0.02

^[7]

200

^[6],[8]

Level 3 | Minimum | Discounted cash flow | Mezzanine debt | Recovery rate

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[5]

0.65

^[7]

6,500

^[6],[8]

Level 3 | Minimum | Discounted cash flow | Mezzanine debt | Discount margin

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[5]

0.20

^[7]

910

^[6],[8]

Level 3 | Minimum | Market approach | First lien debt investments | EBITDA multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

0.03

^[7]

300

^[8]

Level 3 | Minimum | Market approach | First lien debt investments | Revenue multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

0.6

^[7]

^[8]

Level 3 | Minimum | Market approach | Second lien debt investments | EBITDA multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

0.09

^[7]

900

^[8]

Level 3 | Minimum | Market approach | Second lien debt investments | Revenue multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[8]

Level 3 | Minimum | Market approach | Preferred Stock [Member] | EBITDA multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

0.0675

^[7]

725

^[8]

Level 3 | Minimum | Market approach | Preferred Stock [Member] | Revenue multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[8]

Level 3 | Minimum | Market approach | Common equity, warrants and other | EBITDA multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

0.045

^[7]

600

^[8]

Level 3 | Minimum | Market approach | Common equity, warrants and other | Revenue multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

0.006

^[8]

Level 3 | Maximum | Discounted cash flow | First lien debt investments | Discount rates

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

0.36

^[7]

3,750

^[8]

Level 3 | Maximum | Discounted cash flow | Second lien debt investments | Discount rates

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[8]

1,370

Level 3 | Maximum | Discounted cash flow | Subordinated notes | Discount rates

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[5]

0.70

^[7]

2,750

^[6],[8]

Level 3 | Maximum | Discounted cash flow | Subordinated notes | Constant default rate

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[5]

0.02

^[7]

300

^[6],[8]

Level 3 | Maximum | Discounted cash flow | Subordinated notes | Recovery rate

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[5]

0.65

^[7]

6,500

^[6],[8]

Level 3 | Maximum | Discounted cash flow | Mezzanine debt | Constant default rate

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[5]

0.02

^[7]

200

^[6],[8]

Level 3 | Maximum | Discounted cash flow | Mezzanine debt | Recovery rate

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[5]

0.65

^[7]

6,500

^[6],[8]

Level 3 | Maximum | Discounted cash flow | Mezzanine debt | Discount margin

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[5]

0.20

^[7]

1,070

^[6],[8]

Level 3 | Maximum | Market approach | First lien debt investments | EBITDA multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

0.08

^[7]

800

^[8]

Level 3 | Maximum | Market approach | First lien debt investments | Revenue multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

0.6

^[7]

^[8]

Level 3 | Maximum | Market approach | Second lien debt investments | EBITDA multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

0.09

^[7]

900

^[8]

Level 3 | Maximum | Market approach | Second lien debt investments | Revenue multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[8]

Level 3 | Maximum | Market approach | Preferred Stock [Member] | EBITDA multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

0.085

^[7]

850

^[8]

Level 3 | Maximum | Market approach | Preferred Stock [Member] | Revenue multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[8]

Level 3 | Maximum | Market approach | Common equity, warrants and other | EBITDA multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

0.14

^[7]

1,475

^[8]

Level 3 | Maximum | Market approach | Common equity, warrants and other | Revenue multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

0.006

^[8]

Level 3 | Weighted Average | Discounted cash flow | First lien debt investments | Discount rates

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

0.1235

^[7]

1,277

^[8]

Level 3 | Weighted Average | Discounted cash flow | Second lien debt investments | Discount rates

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[8]

1,370

Level 3 | Weighted Average | Discounted cash flow | Subordinated notes | Discount rates

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[5]

0.3357

^[7]

1,873

^[6],[8]

Level 3 | Weighted Average | Discounted cash flow | Subordinated notes | Constant default rate

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[5]

0.02

^[7]

208.00

^[6],[8]

Level 3 | Weighted Average | Discounted cash flow | Subordinated notes | Recovery rate

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[5]

0.65

^[7]

6,500

^[6],[8]

Level 3 | Weighted Average | Discounted cash flow | Mezzanine debt | Constant default rate

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[5]

0.02

^[7]

200

^[6],[8]

Level 3 | Weighted Average | Discounted cash flow | Mezzanine debt | Recovery rate

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[5]

0.65

^[7]

6,500

^[6],[8]

Level 3 | Weighted Average | Discounted cash flow | Mezzanine debt | Discount margin

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[5]

0.20

^[7]

962

^[6],[8]

Level 3 | Weighted Average | Market approach | First lien debt investments | EBITDA multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

0.0544

^[7]

611

^[8]

Level 3 | Weighted Average | Market approach | First lien debt investments | Revenue multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

0.6

^[7]

^[8]

Level 3 | Weighted Average | Market approach | Second lien debt investments | EBITDA multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

0.09

^[7]

900

^[8]

Level 3 | Weighted Average | Market approach | Second lien debt investments | Revenue multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[8]

Level 3 | Weighted Average | Market approach | Preferred Stock [Member] | EBITDA multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

0.0849

^[7]

846

^[8]

Level 3 | Weighted Average | Market approach | Preferred Stock [Member] | Revenue multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

^[8]

Level 3 | Weighted Average | Market approach | Common equity, warrants and other | EBITDA multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

0.0848

^[7]

1,233

^[8]

Level 3 | Weighted Average | Market approach | Common equity, warrants and other | Revenue multiples

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Investments, at fair value, measurement input

0.006

^[8]

[1]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[2]	Unless otherwise noted in footnote 14, fair value was determined using significant unobservable inputs for all of the Company’s investments and are considered Level 3 under GAAP. See Note 5 for further details.
[3]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[4]	Unless otherwise noted in footnote 14, fair value was determined using significant unobservable inputs for all of the Company’s investments and are considered Level 3 under GAAP. See Note 5 for further details.
[5]	The cash flows utilized in the discounted cash flow calculations assume: (i) liquidation of (a) certain distressed investments and (b) all investments currently in default held by the issuing CLO at their current market prices; and (ii) redeployment of proceeds at the issuing CLO’s assumed reinvestment rate.
[6]	The cash flows utilized in the discounted cash flow calculations assume: (i) liquidation of (a) certain distressed investments and (b) all investments currently in default held by the issuing CLO at their current market prices; and (ii) redeployment of proceeds at the issuing CLO’s assumed reinvestment rate.
[7]	Weighted average is calculated based on the fair value of investments.
[8]	Weighted average is calculated based on the fair value of investments.

Borrowings - BNP Facility Interest Expense and Average Outstanding Balance (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2026

Sep. 30, 2025

Sep. 30, 2026

Sep. 30, 2025

Line of Credit Facility [Line Items]

Amortization of debt issuance costs

$ 1,078

$ 1,172

Cash paid for interest expense

10,232

11,981

Revolving Credit Facility | BNP Facility

Line of Credit Facility [Line Items]

Stated interest expense

$ 0

^[1]

$ 1,205

^[1]

437

^[2]

3,752

^[2]

Amortization of debt issuance costs

266

Total interest and debt financing costs

1,280

474

4,018

Cash paid for interest expense

$ 0

$ 1,235

$ 752

$ 3,815

Effective interest rate

0.00%

8.14%

7.12%

8.25%

Average outstanding balance

$ 0

$ 62,418

$ 8,902

$ 65,084

[1]	(1) For the three and nine months ended September 30, 2025, stated interest expense includes unused fees.
[2]	(1) Stated interest expense includes unused fees.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

N-2

9 Months Ended

Sep. 30, 2026

Cover [Abstract]

Entity Central Index Key

0001487918

Amendment Flag

false

Securities Act File Number

814-00813

Document Type

10-Q

Entity Registrant Name

OFS CAPITAL CORPORATION

Entity Address, Address Line One

222 W. Adams Street

Entity Address, Address Line Two

Suite 1850

Entity Address, City or Town

Chicago

Entity Address, State or Province

Entity Address, Postal Zip Code

60606

City Area Code

847

Local Phone Number

734-2000

Entity Emerging Growth Company

false

General Description of Registrant [Abstract]

Risk [Text Block]

Item 1A. Risk Factors

Investing in our common stock may be speculative and involves a high degree of risk. In addition to the other information contained in this Quarterly Report on Form 10-Q, including our financial statements, and the related notes, schedules and exhibits, you should carefully consider the risk factors described in “Part I, Item 1A. Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the “Annual Report on Form 10-K”), filed on March 3, 2026, which could materially affect our business, financial condition and/or operating results. The risks described in our Annual Report on Form 10-K are not the only risks facing our Company. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially and adversely affect our business, financial condition and/or operating results.

Other than the risks described below, there have been no material changes to the risk factors previously disclosed in our Annual Report on Form 10-K. The risks previously disclosed in the Annual Report on Form 10-K should be read together with the other information disclosed elsewhere in this Quarterly Report on Form 10-Q and our other reports filed with the SEC.

Our credit facilities may contain various covenants that, if not complied with, could accelerate repayment under such credit facilities, thereby materially and adversely affecting our liquidity, financial condition and results of operations.

Compliance with these covenants depends on many factors, some of which are beyond our control. Accordingly, there are no assurances that we will be able to comply with the covenants in any credit facilities we enter into. Failure to comply with these covenants could result in a default under such credit facilities, that, if we were unable to obtain a waiver from the lenders or holders of such indebtedness, as applicable, such lenders or holders could accelerate repayment of the indebtedness, or terminate the applicable credit facility, and thereby have a material adverse impact on our business, financial condition and results of operations.

Litigation Risks

We are subject to a variety of litigation risks. Litigation may arise in the course of our investment activities, may result from the nature of our holdings or could be driven by increased or changing interests by regulators in our business. The outcome of any such threatened or actual litigation is inherently uncertain and may include monetary damages, fees, fines, injunctive or other equitable relief and other sanctions. The costs of defending, settling or satisfying any such litigation will ordinarily be borne by us. Any such legal proceeding, involving any or all of the Company, the OFS Advisor, or their affiliates, could have a significant adverse effect on us. For a description of the material pending proceeding to which we are currently subject, see “Part II, Item 1. Legal Proceedings.”

Share Price [Table Text Block]

The following table lists the high and low intraday sale price for the Company’s common stock, NAV per share, and the cash distributions per share that were declared on its common stock for each fiscal quarter during the last two most recently completed fiscal years and each full fiscal quarter of the current fiscal year. The last reported sale price for our common stock on The Nasdaq Global Select Market on September 30, 2026 was $3.63 per share.


			Price Range				Premium			Premium			Cash
Period	NAV Per Share(1)		High		Low		(Discount) of High Sales Price to NAV			(Discount) of Low Sales Price to NAV			Distribution per Share
Fiscal 2026
Third Quarter	$	7.38	$	4.20	$	3.15		(43.1	)%		(57.3	)%	$	0.17
Second Quarter	$	8.41	$	4.35	$	3.26		(48.3	)%		(61.2	)%	$	0.17
First Quarter	$	8.16	$	5.28	$	2.72		(35.3	)%		(66.7	)%	$	0.17
Fiscal 2025
Fourth Quarter	$	9.19	$	7.81	$	4.44		(15.0	)%		(51.7	)%	$	0.17
Third Quarter	$	10.17	$	8.99	$	7.58		(11.6	)%		(25.5	)%	$	0.34
Second Quarter	$	10.91	$	9.52	$	7.88		(12.7	)%		(27.8	)%	$	0.34
First Quarter	$	11.97	$	9.80	$	7.92		(18.1	)%		(33.8	)%	$	0.34
Fiscal 2024
Fourth Quarter	$	12.85	$	8.98	$	7.81		(30.1	)%		(39.2	)%	$	0.34
Third Quarter	$	11.29	$	9.35	$	7.75		(17.2	)%		(31.4	)%	$	0.34
Second Quarter	$	11.51	$	10.14	$	8.42		(11.9	)%		(26.8	)%	$	0.34
First Quarter	$	11.08	$	12.07	$	9.53		8.9	%		(14.0	)%	$	0.34

(1)

NAV per share is determined as of the last day in the relevant quarter and therefore may not reflect the NAV per share on the date of the high and low sales prices. The NAVs shown are based on outstanding shares at the end of each period.

Borrowings - Natixis Facility Narrative (Details) - USD ($) $ in Thousands	Feb. 18, 2026	Sep. 30, 2026	Dec. 31, 2025	Aug. 08, 2025	Jul. 23, 2025	Nov. 01, 2021	Feb. 10, 2021
Debt Instrument [Line Items]
Assets		$ 260,909	$ 346,706
Unused Borrowing Capacity Amount		$ 54,600
Stated Interest Rate		6.34%
Natixis Facility [Member]
Debt Instrument [Line Items]
Principal		$ 25,400
Natixis Facility [Member] \| OFSCC-FS
Debt Instrument [Line Items]
Principal		82,633
Assets		1,716	2,443
Unsecured Notes Due February 2026
Debt Instrument [Line Items]
Principal		$ 0					$ 125,000
Stated Interest Rate							4.75%
Unsecured Notes Due July 2028
Debt Instrument [Line Items]
Principal					$ 69,000
Stated Interest Rate					7.50%
Unsecured Notes Due October 2028
Debt Instrument [Line Items]
Principal						$ 55,000
Stated Interest Rate		4.95%
Unsecured Note Due August 2029
Debt Instrument [Line Items]
Principal				$ 25,000
Stated Interest Rate				8.00%
Unsecured Notes
Debt Instrument [Line Items]
Principal		$ 129,000	$ 165,000
Unsecured Notes \| Natixis Facility [Member]
Debt Instrument [Line Items]
Principal	$ 80,000
Basis spread on variable interest rate	2.35%
Unused Capacity Percentage	0.40%
Arranger fees	0.20%
Unsecured Notes \| Unsecured Notes Due July 2028
Debt Instrument [Line Items]
Principal		$ 49,000

Consolidated Schedule of Investments - USD ($)
$ in Thousands

9 Months Ended

12 Months Ended

Sep. 30, 2026

Dec. 31, 2025

Schedule of Investments [Line Items]

Principal Amount

$ 227,353

^[1]

$ 343,435

^[2]

Amortized Cost

234,170

^[1]

328,400

^[2]

Fair Value

$ 252,147

^[1],[3]

$ 342,015

^[2],[4]

Percent of Net Assets

255.10%

^[1]

277.60%

^[2]

Cash Equivalents, Principal Balance, Amount

$ 1,267

^[1],[5]

$ 309

^[2],[6]

Cash Equivalents, Amortized Cost

1,267

^[1],[5]

309

^[2],[6]

Cash Equivalents, Fair Value

$ 1,267

^[1],[3],[5]

$ 309

^[2],[4],[6]

Cash Equivalents, Percent of Net Assets

^[1],[5]

0.013

Cash Equivalents Percent Of Net Assets

^[2],[6]

0.003

Total Investments and Cash Equivalents, Principal Amount

$ 228,620

^[1]

$ 343,744

^[2]

Total Investments and Cash Equivalents, Amortized Cost

235,437

^[1]

328,709

^[2]

Total Investments and Cash Equivalents, Fair Value

$ 253,414

^[1]

$ 342,324

^[2],[4]

Total Investments and Cash Equivalents, Percent of Net Assets

2.564

^[1]

2.779

^[2],[6]

First American Treasury Obligations Fund Class Z

Schedule of Investments [Line Items]

Principal Amount

$ 774

^[1],[5]

$ 74

^[2],[6]

Investment Yield Percentage

0.0377

^[1],[5],[7]

0.0366

Cash Equivalents, Amortized Cost

$ 774

^[1],[5]

$ 74

^[2],[6]

Cash Equivalents, Fair Value

$ 774

^[1],[3],[5]

$ 74

^[2],[4],[6]

Cash Equivalents, Percent of Net Assets

^[1],[5]

0.008

Cash Equivalents Percent Of Net Assets

^[2],[6]

0.001

Morgan Stanley Institutional Liquidity Funds - Government Portfolio Advisory Class

Schedule of Investments [Line Items]

Principal Amount

$ 493

^[1],[5]

$ 235

^[2],[6]

Investment Yield Percentage

0.0343

^[1],[5],[7]

0.0348

Cash Equivalents, Amortized Cost

$ 493

^[1],[5]

$ 235

^[2],[6]

Cash Equivalents, Fair Value

$ 493

^[1],[3],[5]

$ 235

^[2],[4],[6]

Cash Equivalents, Percent of Net Assets

^[1],[5]

0.005

Cash Equivalents Percent Of Net Assets

^[2],[6]

0.002

Total debt and equity investments

Schedule of Investments [Line Items]

Amortized Cost

$ 185,028

$ 250,767

Fair Value

$ 225,017

$ 280,410

Percent of Net Assets

227.60%

227.80%

Structured Finance Securities

Schedule of Investments [Line Items]

Principal Amount

^[1],[8]

$ 79,907

Amortized Cost

49,142

^[1],[8]

$ 77,633

Fair Value

$ 27,130

^[1],[3],[8]

$ 61,605

Percent of Net Assets

27.50%

^[1],[8]

49.80%

Non-control/non-affiliate investments

Schedule of Investments [Line Items]

Principal Amount

$ 223,047

^[1]

$ 339,397

^[2]

Amortized Cost

205,003

^[1]

300,748

^[2]

Fair Value

$ 141,976

^[1],[3]

$ 242,070

^[2],[4]

Percent of Net Assets

143.60%

^[1]

196.50%

^[2]

Non-control/non-affiliate investments | Total debt and equity investments

Schedule of Investments [Line Items]

Principal Amount

$ 143,140

^[1]

$ 216,070

^[2]

Amortized Cost

155,861

^[1]

223,115

^[2]

Fair Value

$ 114,846

^[1],[3]

$ 180,465

^[2],[4]

Percent of Net Assets

116.10%

^[1]

146.70%

^[2]

Non-control/non-affiliate investments | Structured Finance Securities

Schedule of Investments [Line Items]

Principal Amount

^[2]

$ 123,327

Amortized Cost

^[2]

77,633

Fair Value

^[2],[4]

$ 61,605

Percent of Net Assets

^[2]

49.80%

Affiliate investments

Schedule of Investments [Line Items]

Principal Amount

$ 4,306

^[1]

$ 4,038

^[2]

Amortized Cost

29,167

^[1]

27,652

^[2]

Fair Value

$ 110,171

^[1],[3]

$ 99,945

^[2],[4]

Percent of Net Assets

111.50%

^[1]

81.20%

^[2]

12 Interactive, LLC (D/B/A PerkSpot) | Total debt and equity investments | Software Publishers [Member]

Schedule of Investments [Line Items]

Principal Amount

^[2]

$ 2,573

Amortized Cost

^[2]

2,548

Fair Value

^[2],[4]

$ 2,570

Percent of Net Assets

^[2]

2.10%

AIDC IntermediateCo 2, LLC | Total debt and equity investments | Computer Systems Design Services [Member]

Schedule of Investments [Line Items]

Principal Amount

$ 1,970

^[1]

$ 1,985

^[2]

Amortized Cost

1,962

^[1]

1,970

^[2]

Fair Value

$ 1,891

^[1],[3]

$ 1,983

^[2],[4]

Percent of Net Assets

1.90%

^[1]

1.60%

^[2]

Associated Spring, LLC | Total debt and equity investments | Spring Manufacturing [Member]

Schedule of Investments [Line Items]

Principal Amount

^[2]

$ 2,457

Amortized Cost

^[2]

2,413

Fair Value

^[2],[4]

$ 2,445

Percent of Net Assets

^[2]

2.00%

Avison Young Inc. | Total debt and equity investments | Nonresidential Property Managers [Member]

Schedule of Investments [Line Items]

Principal Amount

$ 2,463

^[1],[8]

$ 2,311

^[2]

Amortized Cost

4,987

^[1],[8]

4,865

^[2]

Fair Value

$ 1,286

^[1],[3],[8]

$ 2,136

^[2],[4]

Percent of Net Assets

1.30%

^[1],[8]

1.80%

^[2]

BayMark Health Services, Inc. | Total debt and equity investments | Outpatient Mental Health and Substance Abuse Centers [Member]

Schedule of Investments [Line Items]

Principal Amount

^[2]

$ 8,950

Amortized Cost

$ 8,892

^[1],[9]

8,892

^[2]

Fair Value

$ 107

^[1],[3],[9]

$ 447

^[2],[4]

Percent of Net Assets

0.10%

^[1],[9]

0.40%

^[2]

Boca Home Care Holdings, Inc. | Total debt and equity investments | Services For The Elderly And Persons With Disabilities [Member]

Schedule of Investments [Line Items]

Principal Amount

$ 9,029

^[1]

$ 9,244

^[2]

Amortized Cost

10,625

^[1]

10,840

^[2]

Fair Value

$ 10,128

^[1],[3]

$ 10,374

^[2],[4]

Percent of Net Assets

10.20%

^[1]

8.40%

^[2]

Clevertech Bidco, LLC | Total debt and equity investments | Commodity Contracts Dealing [Member]

Schedule of Investments [Line Items]

Principal Amount

$ 3,327

^[1]

$ 3,245

^[2]

Amortized Cost

3,295

^[1]

3,193

^[2]

Fair Value

$ 3,072

^[1],[3]

$ 3,067

^[2],[4]

Percent of Net Assets

3.10%

^[1]

2.50%

^[2]

ESP Associates, Inc. | Total debt and equity investments | Other Heavy and Civil Engineering Construction

Schedule of Investments [Line Items]

Principal Amount

^[1]

$ 455

Amortized Cost

^[1]

451

Fair Value

^[1],[3]

$ 451

Percent of Net Assets

^[1]

0.50%

Envocore Holding, LLC (F/K/A LRI Holding, LLC) | Total debt and equity investments | Electrical Contractors and Other Wiring Installation Contractors [Member]

Schedule of Investments [Line Items]

Principal Amount

^[2],[10]

$ 15,757

Amortized Cost

^[2],[10]

17,473

Fair Value

^[2],[4],[10]

$ 8,549

Percent of Net Assets

^[2],[10]

6.90%

MP Design, LLC | Total debt and equity investments | Architectural Services

Schedule of Investments [Line Items]

Principal Amount

^[1]

$ 986

Amortized Cost

^[1]

968

Fair Value

^[1],[3]

$ 970

Percent of Net Assets

^[1]

1.00%

GoTo Group (F/K/A LogMeIn, Inc.) | Total debt and equity investments | Data Processing, Hosting, and Related Services [Member]

Schedule of Investments [Line Items]

Principal Amount

^{[2],[11],[12]}

$ 2,206

Amortized Cost

^{[2],[11],[12]}

2,205

Fair Value

^{[2],[4],[11],[12]}

$ 1,329

Percent of Net Assets

^{[2],[11],[12]}

1.10%

Honor HN Buyer Inc. | Total debt and equity investments | Services For The Elderly And Persons With Disabilities [Member]

Schedule of Investments [Line Items]

Principal Amount

$ 2,897

^[1]

$ 7,364

^[2]

Amortized Cost

2,870

^[1]

7,290

^[2]

Fair Value

$ 2,897

^[1],[3]

$ 7,354

^[2],[4]

Percent of Net Assets

2.90%

^[1]

5.90%

^[2]

I Love Produce, LLC [Member] | Total debt and equity investments | Spice And Extract Manufacturing [Member]

Schedule of Investments [Line Items]

Principal Amount

^[1]

$ 325

Amortized Cost

^[1]

317

Fair Value

^[1],[3]

$ 312

Percent of Net Assets

^[1]

0.30%

Inergex Holdings, LLC | Total debt and equity investments | Other Computer Related Services [Member]

Schedule of Investments [Line Items]

Principal Amount

$ 17,303

^[1],[13]

$ 16,960

^[2],[14]

Amortized Cost

17,303

^[1],[13]

16,906

^[2],[14]

Fair Value

$ 17,303

^[1],[3],[13]

$ 16,960

^[2],[4],[14]

Percent of Net Assets

17.50%

^[1],[13]

13.90%

^[2],[14]

Integrated Energy Services, LLC | Total debt and equity investments | Computer Systems Design Services [Member]

Schedule of Investments [Line Items]

Principal Amount

$ 566

^[1]

$ 525

^[2]

Amortized Cost

554

^[1]

508

^[2]

Fair Value

$ 546

^[1],[3]

$ 508

^[2],[4]

Percent of Net Assets

0.50%

^[1]

0.40%

^[2]

JP Intermediate B, LLC | Total debt and equity investments | Drugs and Druggists' Sundries Merchant Wholesalers [Member]

Schedule of Investments [Line Items]

Principal Amount

$ 1,831

^[1]

$ 1,834

^[2]

Amortized Cost

4,823

^[1]

4,826

^[2]

Fair Value

$ 1,392

^[1],[3]

$ 1,809

^[2],[4]

Percent of Net Assets

1.40%

^[1]

1.50%

^[2]

Kreg LLC | Total debt and equity investments | Other Ambulatory Health Care Services [Member]

Schedule of Investments [Line Items]

Principal Amount

^[2]

$ 18,593

Amortized Cost

^[2]

18,568

Fair Value

^[2],[4]

$ 18,073

Percent of Net Assets

^[2]

14.70%

Medrina LLC | Total debt and equity investments | All Other Outpatient Care Centers [Member]

Schedule of Investments [Line Items]

Principal Amount

$ 2,538

^[1]

$ 2,557

^[2]

Amortized Cost

2,503

^[1]

2,514

^[2]

Fair Value

$ 2,514

^[1],[3]

$ 2,557

^[2],[4]

Percent of Net Assets

2.60%

^[1]

2.10%

^[2]

One GI LLC | Total debt and equity investments | Offices of Other Holding Companies [Member]

Schedule of Investments [Line Items]

Principal Amount

^[2]

$ 12,561

Amortized Cost

^[2]

12,561

Fair Value

^[2],[4]

$ 11,419

Percent of Net Assets

^[2]

9.30%

One GI LLC | Affiliate investments | Offices of Other Holding Companies [Member]

Schedule of Investments [Line Items]

Principal Amount

^[1],[15]

$ 13,471

Amortized Cost

^[1],[15]

12,551

Fair Value

^[1],[3],[15]

$ 10,682

Percent of Net Assets

^[1],[15]

10.80%

PSB Group, LLC | Total debt and equity investments | Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) [Member]

Schedule of Investments [Line Items]

Principal Amount

^[2],[14]

$ 8,288

Amortized Cost

^[2],[14]

8,249

Fair Value

^[2],[4],[14]

$ 8,284

Percent of Net Assets

^[2],[14]

6.70%

PSB Group, LLC | Affiliate investments | Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) [Member]

Schedule of Investments [Line Items]

Principal Amount

^[1]

$ 7,822

Amortized Cost

^[1]

7,790

Fair Value

^[1],[3]

$ 7,900

Percent of Net Assets

^[1]

8.00%

Redstone Holdco 2 LP [Member] | Affiliate investments | Computer and Computer Peripheral Equipment and Software Merchant Wholesalers [Member]

Schedule of Investments [Line Items]

Principal Amount

^[1],[9]

$ 1,080

Amortized Cost

^[1],[9]

1,067

Fair Value

^[1],[3],[9]

$ 1,027

Percent of Net Assets

^[1],[9]

1.00%

Ride Now Group Inc. (F/K/A RumbleOn, Inc.) | Total debt and equity investments | Other Industrial Machinery Manufacturing [Member]

Schedule of Investments [Line Items]

Principal Amount

^{[2],[12],[16]}

$ 3,104

Amortized Cost

^{[2],[12],[16]}

3,276

Fair Value

^{[2],[4],[12],[16]}

$ 3,061

Percent of Net Assets

^{[2],[12],[16]}

2.60%

SS Acquisition, LLC | Total debt and equity investments | New Single-Family Housing Construction (except For-Sale Builders) [Member]

Schedule of Investments [Line Items]

Principal Amount

^[2],[14]

$ 17,295

Amortized Cost

^[2],[14]

17,221

Fair Value

^[2],[4],[14]

$ 17,328

Percent of Net Assets

^[2],[14]

14.00%

SSJA Bariatric Management LLC | Affiliate investments

Schedule of Investments [Line Items]

Principal Amount

^[2],[14]

$ 4,038

Amortized Cost

^[2],[14]

13,693

Fair Value

^[2],[4],[14]

$ 5,768

Percent of Net Assets

^[2],[14]

4.70%

SSJA Bariatric Management LLC | Affiliate investments | Offices of Physicians and Mental Health Specialists [Member]

Schedule of Investments [Line Items]

Principal Amount

^[1]

$ 4,306

Amortized Cost

^[1]

13,933

Fair Value

^[1],[3]

$ 1,887

Percent of Net Assets

^[1]

1.90%

Tolemar Acquisition, Inc. | Total debt and equity investments | Motorcycle, Bicycle, and Parts Manufacturing [Member]

Schedule of Investments [Line Items]

Principal Amount

^[2]

$ 15,009

Amortized Cost

^[2]

14,946

Fair Value

^[2],[4]

$ 10,645

Percent of Net Assets

^[2]

8.60%

Tolemar Acquisition, Inc. | Affiliate investments | Motorcycle, Bicycle, and Parts Manufacturing [Member]

Schedule of Investments [Line Items]

Principal Amount

^[1],[9]

$ 15,815

Amortized Cost

^[1],[9]

15,785

Fair Value

^[1],[3],[9]

$ 8,334

Percent of Net Assets

^[1],[9]

8.40%

Contract Datascan Holdings, Inc. | Office Machinery and Equipment Rental and Leasing [Member]

Schedule of Investments [Line Items]

Amortized Cost

^[2]

$ 12,607

Fair Value

^[2],[4]

$ 12,085

Percent of Net Assets

^[2]

9.80%

Contract Datascan Holdings, Inc. | Affiliate investments | Office Machinery and Equipment Rental and Leasing [Member]

Schedule of Investments [Line Items]

Amortized Cost

^[1]

$ 13,882

Fair Value

^[1]

$ 16,860

Percent of Net Assets

^[1]

17.10%

Investment, Identifier [Axis]: Contract Datascan Holdings, Inc., Common Equity

Schedule of Investments [Line Items]

Fair Value

^{[17],[18],[19]}

$ 0

Investment, Identifier [Axis]: Contract Datascan Holdings, Inc., Preferred Equity 1

Schedule of Investments [Line Items]

Fair Value

^{[17],[19],[20]}

13,477

9,201

Investment, Identifier [Axis]: Contract Datascan Holdings, Inc., Preferred Equity 2

Schedule of Investments [Line Items]

Fair Value

^{[17],[19],[20]}

3,181

2,884

Investment, Identifier [Axis]: Contract Datascan Holdings, Inc., Warrants 1

Schedule of Investments [Line Items]

Fair Value

^{[17],[18],[19]}

202

Investment, Identifier [Axis]: Contract Datascan Holdings, Inc., Warrants 2

Schedule of Investments [Line Items]

Fair Value

^{[17],[18],[19]}

Investment, Identifier [Axis]: DRS Imaging Services, LLC, Common Equity

Schedule of Investments [Line Items]

Fair Value

^{[17],[18],[19]}

3,714

2,671

Investment, Identifier [Axis]: Pfanstiehl Holdings, Inc., Common Equity

Schedule of Investments [Line Items]

Fair Value

^[17],[19]

$ 87,710

$ 79,421

Investment, Identifier [Axis]: Portfolio Company Investment Type AF Contract Datascan Holdings, Inc. CE (11,273 shares) Industry Office Machinery and Equipment Rental and Leasing IAD 6/28/2016

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[2],[10],[21]}

Jun. 28, 2016

Amortized Cost

^{[2],[10],[21]}

$ 104

Fair Value

^{[2],[4],[10],[21]}

$ 0

Percent of Net Assets

^{[2],[10],[21]}

0.00%

Schedule of Investments [Line Items]

Initial Acquisition Date

^[2],[10]

Aug. 21, 2025

Amortized Cost

^[2],[10]

$ 2,890

Fair Value

^[2],[4],[10]

$ 2,884

Percent of Net Assets

^[2],[10]

2.30%

Schedule of Investments [Line Items]

Initial Acquisition Date

^[2],[10]

Aug. 05, 2015

Amortized Cost

^[2],[10]

$ 9,613

Fair Value

^[2],[4],[10]

$ 9,201

Percent of Net Assets

^[2],[10]

7.50%

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[2],[10],[21]}

Aug. 21, 2025

Amortized Cost

^{[2],[10],[21]}

$ 0

Fair Value

^{[2],[4],[10],[21]}

$ 0

Maturity

^{[2],[10],[21],[22]}

Aug. 20, 2035

Percent of Net Assets

^{[2],[10],[21]}

0.00%

Investment, Identifier [Axis]: Portfolio Company Investment Type AI Contract Datascan Holdings, Inc. CE (11,273 shares) Industry Office Machinery and Equipment Rental and Leasing IAD 6/28/2016

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[1],[13],[23],[24]}

Jun. 28, 2016

Amortized Cost

^{[1],[13],[23],[24]}

$ 104

Fair Value

^{[1],[3],[13],[23],[24]}

$ 0

Percent of Net Assets

^{[1],[13],[23],[24]}

0.00%

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[1],[13],[24]}

Aug. 21, 2025

Amortized Cost

^{[1],[13],[24]}

$ 3,183

Fair Value

^{[1],[3],[13],[24]}

$ 3,181

Percent of Net Assets

^{[1],[13],[24]}

3.20%

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[1],[13],[24]}

Aug. 05, 2015

Amortized Cost

^{[1],[13],[24]}

$ 10,595

Fair Value

^{[1],[3],[13],[24]}

$ 13,477

Percent of Net Assets

^{[1],[13],[24]}

13.70%

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[2],[10],[21]}

Aug. 21, 2025

Amortized Cost

^{[2],[10],[21]}

$ 0

Fair Value

^{[2],[4],[10],[21]}

$ 0

Maturity

^{[2],[10],[21],[22]}

Aug. 20, 2035

Percent of Net Assets

^{[2],[10],[21]}

0.00%

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[1],[13],[23],[24]}

Aug. 21, 2025

Amortized Cost

^{[1],[13],[23],[24]}

$ 0

Fair Value

^{[1],[3],[13],[23],[24]}

$ 0

Maturity

^{[1],[13],[23],[24],[25]}

Aug. 20, 2035

Percent of Net Assets

^{[1],[13],[23],[24]}

0.00%

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[1],[13],[23],[24]}

Aug. 21, 2025

Amortized Cost

^{[1],[13],[23],[24]}

$ 0

Fair Value

^{[1],[3],[13],[23],[24]}

$ 202

Maturity

^{[1],[13],[23],[24],[25]}

Aug. 20, 2035

Percent of Net Assets

^{[1],[13],[23],[24]}

0.20%

Investment, Identifier [Axis]: Portfolio Company Investment Type AI DRS Imaging Services, LLC CE Industry Data Processing, Hosting, and Related Services IAD 3/8/2018

Schedule of Investments [Line Items]

Initial Acquisition Date

Mar. 08, 2018

^{[1],[23],[26]}

Mar. 08, 2018

^{[2],[14],[21],[27]}

Amortized Cost

$ 1,135

^{[1],[23],[26]}

$ 1,135

^{[2],[14],[21],[27]}

Fair Value

$ 3,714

^{[1],[3],[23],[26]}

$ 2,671

^{[2],[4],[14],[21],[27]}

Percent of Net Assets

3.80%

^{[1],[23],[26]}

2.20%

^{[2],[14],[21],[27]}

Investment, Identifier [Axis]: Portfolio Company Investment Type AI Pfanstiehl Holdings, Inc CE (400 Class A shares) Industry Pharmaceutical Preparation Manufacturing IAD 1/1/2014

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[1],[13],[28]}

Jan. 01, 2014

Amortized Cost

^{[1],[13],[28]}

$ 217

Fair Value

^{[1],[3],[13],[28]}

$ 87,710

Percent of Net Assets

^{[1],[13],[28]}

88.70%

Investment, Identifier [Axis]: Portfolio Company Investment Type AI Pfanstiehl Holdings, Inc. Common (Class A shares) Equity Industry Pharmaceutical Preparation Manufacturing IAD 1/1/2014

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[2],[14],[29]}

Jan. 01, 2014

Amortized Cost

^{[2],[14],[29]}

$ 217

Fair Value

^{[2],[4],[14],[29]}

$ 79,421

Percent of Net Assets

^{[2],[14],[29]}

64.50%

Investment, Identifier [Axis]: Portfolio Company Investment Type AI SSJA Bariatric Management LLC CE (52,763 Class A units) IAD 10/31/2025

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[1],[9],[23],[26],[28]}

Oct. 31, 2025

Amortized Cost

^{[1],[9],[23],[26],[28]}

$ 9,657

Fair Value

^{[1],[3],[9],[23],[26],[28]}

$ 0

Percent of Net Assets

^{[1],[9],[23],[26],[28]}

0.00%

Investment, Identifier [Axis]: Portfolio Company Investment Type AI SSJA Bariatric Management LLC CE (Class A units) Industry Offices of Physicians, Mental Health Specialists IAD 10/31/2025

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[2],[12],[14],[27]}

Oct. 31, 2025

Amortized Cost

^{[2],[12],[14],[27]}

$ 9,657

Fair Value

^{[2],[4],[12],[14],[27]}

$ 1,729

Percent of Net Assets

^{[2],[12],[14],[27]}

1.40%

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[28],[30]}

9.22%

Spread Above Index

^{[1],[7],[28],[30]}

5.25%

Initial Acquisition Date

^{[1],[28],[30]}

Oct. 31, 2025

Principal Amount

^{[1],[28],[30]}

$ 233

Amortized Cost

^{[1],[28],[30]}

233

Fair Value

^{[1],[3],[28],[30]}

$ 233

Maturity

^{[1],[28],[30]}

Oct. 31, 2028

Percent of Net Assets

^{[1],[28],[30]}

0.20%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate, PIK

^{[1],[7],[9],[15],[28]}

9.22%

Spread Above Index

^{[1],[7],[9],[15],[28]}

5.25%

Initial Acquisition Date

^{[1],[9],[15],[28]}

Dec. 31, 2020

Principal Amount

^{[1],[9],[15],[28]}

$ 4,073

Amortized Cost

^{[1],[9],[15],[28]}

4,043

Fair Value

^{[1],[3],[9],[15],[28]}

$ 1,654

Maturity

^{[1],[9],[15],[28]}

Oct. 31, 2028

Percent of Net Assets

^{[1],[9],[15],[28]}

1.70%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate, PIK

^{[2],[12],[14],[31]}

9.24%

Spread Above Index

^{[2],[12],[14],[31]}

5.25%

Initial Acquisition Date

^{[2],[12],[14]}

Dec. 31, 2020

Principal Amount

^{[2],[12],[14]}

$ 3,804

Amortized Cost

^{[2],[12],[14]}

3,804

Fair Value

^{[2],[4],[12],[14]}

$ 3,804

Maturity

^{[2],[12],[14]}

Oct. 31, 2028

Percent of Net Assets

^{[2],[12],[14]}

3.10%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[2],[14],[31],[32]}

9.24%

Spread Above Index

^{[2],[14],[31],[32]}

5.25%

Initial Acquisition Date

^{[2],[14],[32]}

Oct. 31, 2025

Principal Amount

^{[2],[14],[32]}

$ 234

Amortized Cost

^{[2],[14],[32]}

232

Fair Value

^{[2],[4],[14],[32]}

$ 235

Maturity

^{[2],[14],[32]}

Oct. 31, 2028

Percent of Net Assets

^{[2],[14],[32]}

0.20%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Spread Above Index

^{[2],[31],[33],[34]}

5.75%

Initial Acquisition Date

^{[2],[33],[34]}

Sep. 05, 2025

Amortized Cost

^{[2],[33],[34]}

$ (3)

Fair Value

^{[2],[4],[33],[34]}

$ (3)

Maturity

^{[2],[33],[34]}

Sep. 05, 2030

Percent of Net Assets

^{[2],[33],[34]}

0.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. 12 Interactive, LLC (D/B/A PerkSpot) FLD Industry Software Publishers IR 9.42% SAI SOFR+5.75% IAD 9/5/2025 MD 3/5/2027

Schedule of Investments [Line Items]

Interest Rate

^{[2],[31],[34]}

9.42%

Spread Above Index

^{[2],[31],[34]}

5.75%

Initial Acquisition Date

^[2],[34]

Sep. 05, 2025

Principal Amount

^[2],[34]

$ 1,120

Amortized Cost

^[2],[34]

1,110

Fair Value

^[2],[4],[34]

$ 1,120

Maturity

^[2],[34]

Mar. 05, 2027

Percent of Net Assets

^[2],[34]

0.90%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. 12 Interactive, LLC (D/B/A PerkSpot) FLD Industry Software Publishers IR 9.42% SAI SOFR+5.75% IAD 9/5/2025 MD 9/5/2030

Schedule of Investments [Line Items]

Interest Rate

^{[2],[31],[34]}

9.42%

Spread Above Index

^{[2],[31],[34]}

5.75%

Initial Acquisition Date

^[2],[34]

Sep. 05, 2025

Principal Amount

^[2],[34]

$ 1,453

Amortized Cost

^[2],[34]

1,441

Fair Value

^[2],[4],[34]

$ 1,453

Maturity

^[2],[34]

Sep. 05, 2030

Percent of Net Assets

^[2],[34]

1.20%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. 24 Seven Holdco, LLC FLD Industry Temporary Help Services IR 10.96% SAI SOFR+7013% IAD 1/28/2022 MD 11/16/2027

Schedule of Investments [Line Items]

Interest Rate

^{[2],[12],[31]}

10.96%

Spread Above Index

^{[2],[12],[31]}

7.13%

Initial Acquisition Date

^[2],[12]

Jan. 28, 2022

Principal Amount

^[2],[12]

$ 8,386

Amortized Cost

^[2],[12]

8,366

Fair Value

^[2],[4],[12]

$ 8,361

Maturity

^[2],[12]

Nov. 16, 2027

Percent of Net Assets

^[2],[12]

6.80%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[2],[12],[31]}

8.97%

Spread Above Index

^{[2],[12],[31]}

5.25%

Initial Acquisition Date

^[2],[12]

Jul. 22, 2022

Principal Amount

^[2],[12]

$ 1,940

Amortized Cost

^[2],[12]

1,925

Fair Value

^[2],[4],[12]

$ 1,938

Maturity

^[2],[12]

Jul. 22, 2027

Percent of Net Assets

^[2],[12]

1.60%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[2],[12],[31]}

8.97%

Spread Above Index

^{[2],[12],[31]}

5.25%

Initial Acquisition Date

^[2],[12]

Jul. 31, 2023

Principal Amount

^[2],[12]

$ 45

Amortized Cost

^[2],[12]

Fair Value

^[2],[4],[12]

$ 45

Maturity

^[2],[12]

Jul. 22, 2027

Percent of Net Assets

^[2],[12]

0.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[2],[12],[31]}

9.32%

Spread Above Index

^{[2],[12],[31]}

5.50%

Initial Acquisition Date

^[2],[12]

Mar. 02, 2021

Principal Amount

^[2],[12]

$ 3,652

Amortized Cost

^[2],[12]

3,651

Fair Value

^[2],[4],[12]

$ 2,862

Maturity

^[2],[12]

Feb. 10, 2027

Percent of Net Assets

^[2],[12]

2.30%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[2],[12],[31],[33]}

8.57%

Spread Above Index

^{[2],[12],[31],[33]}

4.75%

Initial Acquisition Date

^{[2],[12],[33]}

Dec. 10, 2024

Principal Amount

^{[2],[12],[33]}

$ 238

Amortized Cost

^{[2],[12],[33]}

230

Fair Value

^{[2],[4],[12],[33]}

$ 233

Maturity

^{[2],[12],[33]}

Apr. 04, 2030

Percent of Net Assets

^{[2],[12],[33]}

0.20%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Associated Spring, LLC FLD Industry Spring Manufacturing IR 8.59% SAI SOFR+4.75% IAD 12/10/2024 MD 4/4/2030

Schedule of Investments [Line Items]

Interest Rate

^{[2],[12],[31]}

8.59%

Spread Above Index

^{[2],[12],[31]}

4.75%

Initial Acquisition Date

^[2],[12]

Dec. 10, 2024

Principal Amount

^[2],[12]

$ 2,219

Amortized Cost

^[2],[12]

2,183

Fair Value

^[2],[4],[12]

$ 2,212

Maturity

^[2],[12]

Apr. 04, 2030

Percent of Net Assets

^[2],[12]

1.80%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[2],[11],[12],[31]}

7.97%

Spread Above Index

^{[2],[11],[12],[31]}

4.25%

Initial Acquisition Date

^{[2],[11],[12]}

Oct. 28, 2025

Principal Amount

^{[2],[11],[12]}

$ 1,496

Amortized Cost

^{[2],[11],[12]}

1,493

Fair Value

^{[2],[4],[11],[12]}

$ 1,498

Maturity

^{[2],[11],[12]}

Sep. 19, 2030

Percent of Net Assets

^{[2],[11],[12]}

1.20%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Avison Young Inc. Common Equity (1,185 Class B units) Industry Nonresidential Property Managers IAD 3/12/2024

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[2],[12],[16],[21],[27]}

Mar. 12, 2024

Amortized Cost

^{[2],[12],[16],[21],[27]}

$ 1,400

Fair Value

^{[2],[4],[12],[16],[21],[27]}

$ 0

Percent of Net Assets

^{[2],[12],[16],[21],[27]}

0.00%

Schedule of Investments [Line Items]

Spread Above Index

^{[2],[16],[31],[33]}

8.50%

Initial Acquisition Date

^{[2],[16],[33]}

Dec. 18, 2025

Principal Amount

^{[2],[16],[33]}

$ 0

Amortized Cost

^{[2],[16],[33]}

Fair Value

^{[2],[4],[16],[33]}

$ 0

Maturity

^{[2],[16],[33]}

Dec. 12, 2027

Percent of Net Assets

^{[2],[16],[33]}

0.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest rate, cash

^{[2],[16],[31],[35]}

3.70%

Interest Rate, PIK

^{[2],[16],[31],[35]}

8.50%

Spread Above Index

^{[2],[16],[31],[35]}

8.50%

Initial Acquisition Date

^{[2],[16],[35]}

Dec. 18, 2025

Principal Amount

^{[2],[16],[35]}

$ 82

Amortized Cost

^{[2],[16],[35]}

Fair Value

^{[2],[4],[16],[35]}

$ 83

Maturity

^{[2],[16],[35]}

Dec. 12, 2027

Percent of Net Assets

^{[2],[16],[35]}

0.10%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest rate, cash

^{[2],[12],[16],[31],[35]}

5.20%

Interest Rate, PIK

^{[2],[12],[16],[31],[35]}

5.85%

Spread Above Index

^{[2],[12],[16],[31],[35]}

7.35%

Initial Acquisition Date

^{[2],[12],[16],[35]}

Dec. 18, 2025

Principal Amount

^{[2],[12],[16],[35]}

$ 231

Amortized Cost

^{[2],[12],[16],[35]}

231

Fair Value

^{[2],[4],[12],[16],[35]}

$ 234

Maturity

^{[2],[12],[16],[35]}

Dec. 12, 2027

Percent of Net Assets

^{[2],[12],[16],[35]}

0.20%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest rate, cash

^{[2],[12],[16],[31],[35]}

5.49%

Interest Rate, PIK

^{[2],[12],[16],[31],[35]}

6.50%

Spread Above Index

^{[2],[12],[16],[31],[35]}

8.00%

Initial Acquisition Date

^{[2],[12],[16],[35]}

Nov. 25, 2021

Principal Amount

^{[2],[12],[16],[35]}

$ 1,669

Amortized Cost

^{[2],[12],[16],[35]}

1,670

Fair Value

^{[2],[4],[12],[16],[35]}

$ 1,452

Maturity

^{[2],[12],[16],[35]}

Mar. 12, 2029

Percent of Net Assets

^{[2],[12],[16],[35]}

1.20%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest rate, cash

^{[2],[12],[16],[21],[31],[35],[36]}

5.60%

Interest Rate, PIK

^{[2],[12],[16],[21],[31],[35],[36]}

6.50%

Spread Above Index

^{[2],[12],[16],[21],[31],[35],[36]}

8.00%

Initial Acquisition Date

^{[2],[12],[16],[21],[35],[36]}

Nov. 25, 2021

Principal Amount

^{[2],[12],[16],[21],[35],[36]}

$ 329

Amortized Cost

^{[2],[12],[16],[21],[35],[36]}

213

Fair Value

^{[2],[4],[12],[16],[21],[35],[36]}

$ 249

Maturity

^{[2],[12],[16],[21],[35],[36]}

Mar. 12, 2029

Percent of Net Assets

^{[2],[12],[16],[21],[35],[36]}

0.20%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[2],[12],[16],[21],[27]}

Mar. 12, 2024

Amortized Cost

^{[2],[12],[16],[21],[27]}

$ 1,269

Fair Value

^{[2],[4],[12],[16],[21],[27]}

$ 118

Percent of Net Assets

^{[2],[12],[16],[21],[27]}

0.10%

Schedule of Investments [Line Items]

Interest Rate

^{[2],[12],[31],[36]}

14.43%

Spread Above Index

^{[2],[12],[31],[36]}

10.50%

Initial Acquisition Date

^{[2],[12],[36]}

Jun. 10, 2021

Principal Amount

^{[2],[12],[36]}

$ 4,962

Amortized Cost

^{[2],[12],[36]}

4,931

Fair Value

^{[2],[4],[12],[36]}

$ 248

Maturity

^{[2],[12],[36]}

Jun. 11, 2028

Percent of Net Assets

^{[2],[12],[36]}

0.20%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^[2],[31]

14.70%

Spread Above Index

^[2],[31]

10.50%

Initial Acquisition Date

^[2]

Jun. 10, 2021

Principal Amount

^[2]

$ 3,988

Amortized Cost

^[2]

3,961

Fair Value

^[2],[4]

$ 199

Maturity

^[2]

Jun. 11, 2028

Percent of Net Assets

^[2]

0.20%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[2],[14],[21],[27]}

Feb. 25, 2022

Amortized Cost

^{[2],[14],[21],[27]}

$ 1,290

Fair Value

^{[2],[4],[14],[21],[27]}

$ 768

Percent of Net Assets

^{[2],[14],[21],[27]}

0.60%

Schedule of Investments [Line Items]

Interest Rate

^{[2],[14],[31],[33]}

10.59%

Spread Above Index

^{[2],[14],[31],[33]}

6.50%

Initial Acquisition Date

^{[2],[14],[33]}

Feb. 25, 2022

Principal Amount

^{[2],[14],[33]}

$ 226

Amortized Cost

^{[2],[14],[33]}

222

Fair Value

^{[2],[4],[14],[33]}

$ 226

Maturity

^{[2],[14],[33]}

Feb. 25, 2027

Percent of Net Assets

^{[2],[14],[33]}

0.20%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[2],[12],[14],[31]}

10.59%

Spread Above Index

^{[2],[12],[14],[31]}

6.50%

Initial Acquisition Date

^{[2],[12],[14]}

Feb. 25, 2022

Principal Amount

^{[2],[12],[14]}

$ 9,018

Amortized Cost

^{[2],[12],[14]}

8,983

Fair Value

^{[2],[4],[12],[14]}

$ 9,017

Maturity

^{[2],[12],[14]}

Feb. 25, 2027

Percent of Net Assets

^{[2],[12],[14]}

7.30%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Initial Acquisition Date

^[2],[14]

Mar. 03, 2023

Amortized Cost

^[2],[14]

$ 345

Fair Value

^[2],[4],[14]

$ 363

Percent of Net Assets

^[2],[14]

0.30%

Schedule of Investments [Line Items]

Interest Rate

^{[2],[31],[33]}

10.57%

Spread Above Index

^{[2],[31],[33]}

6.75%

Initial Acquisition Date

^[2],[33]

Nov. 03, 2023

Principal Amount

^[2],[33]

$ 112

Amortized Cost

^[2],[33]

107

Fair Value

^[2],[4],[33]

$ 96

Maturity

^[2],[33]

Dec. 30, 2027

Percent of Net Assets

^[2],[33]

0.10%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Clevertech Bidco, LLC FLD Industry Commodity Contracts Dealing IR 10.57% SAI SOFR+6.75% IAD 11/3/2023 MD 12/30/2027

Schedule of Investments [Line Items]

Interest Rate

^{[2],[12],[31]}

10.57%

Spread Above Index

^{[2],[12],[31]}

6.75%

Initial Acquisition Date

^[2],[12]

Nov. 03, 2023

Principal Amount

^[2],[12]

$ 3,133

Amortized Cost

^[2],[12]

3,086

Fair Value

^[2],[4],[12]

$ 2,971

Maturity

^[2],[12]

Dec. 30, 2027

Percent of Net Assets

^[2],[12]

2.40%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Initial Acquisition Date

^[2],[21]

Mar. 27, 2020

Amortized Cost

^[2],[21]

$ 703

Fair Value

^[2],[4],[21]

$ 33

Percent of Net Assets

^[2],[21]

0.00%

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[2],[10],[21],[37]}

Dec. 31, 2021

Amortized Cost

^{[2],[10],[21],[37]}

$ 4,722

Fair Value

^{[2],[4],[10],[21],[37]}

$ 0

Percent of Net Assets

^{[2],[10],[21],[37]}

0.00%

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[2],[10],[33]}

Nov. 29, 2021

Principal Amount

^{[2],[10],[33]}

$ 0

Amortized Cost

^{[2],[10],[33]}

Fair Value

^{[2],[4],[10],[33]}

$ 0

Maturity

^{[2],[10],[33]}

Dec. 31, 2027

Percent of Net Assets

^{[2],[10],[33]}

0.00%

Schedule of Investments [Line Items]

Interest Rate

^{[2],[10],[31]}

7.50%

Initial Acquisition Date

^[2],[10]

Jun. 30, 2017

Principal Amount

^[2],[10]

$ 6,167

Amortized Cost

^[2],[10]

6,167

Fair Value

^[2],[4],[10]

$ 6,167

Maturity

^[2],[10]

Dec. 31, 2027

Percent of Net Assets

^[2],[10]

5.00%

Schedule of Investments [Line Items]

Interest Rate, PIK

^{[2],[10],[21],[31],[36]}

10.00%

Initial Acquisition Date

^{[2],[10],[21],[36]}

Jun. 30, 2017

Principal Amount

^{[2],[10],[21],[36]}

$ 9,590

Amortized Cost

^{[2],[10],[21],[36]}

6,584

Fair Value

^{[2],[4],[10],[21],[36]}

$ 2,382

Maturity

^{[2],[10],[21],[36]}

Dec. 31, 2028

Percent of Net Assets

^{[2],[10],[21],[36]}

1.90%

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Excelin Home Health, LLC SLD Industry Home Health Care Services IR 18.00% PIK IAD 10/25/2018 MD 10/1/2026

Schedule of Investments [Line Items]

Interest Rate, PIK

^{[2],[31],[36]}

18.00%

Initial Acquisition Date

^[2],[36]

Oct. 25, 2018

Principal Amount

^[2],[36]

$ 7,119

Amortized Cost

^[2],[36]

6,765

Fair Value

^[2],[4],[36]

$ 4,079

Maturity

^[2],[36]

Oct. 01, 2026

Percent of Net Assets

^[2],[36]

3.30%

Schedule of Investments [Line Items]

Interest Rate

^{[2],[11],[12],[31]}

8.79%

Spread Above Index

^{[2],[11],[12],[31]}

4.75%

Initial Acquisition Date

^{[2],[11],[12]}

Mar. 26, 2021

Principal Amount

^{[2],[11],[12]}

$ 926

Amortized Cost

^{[2],[11],[12]}

926

Fair Value

^{[2],[4],[11],[12]}

$ 826

Maturity

^{[2],[11],[12]}

Apr. 28, 2028

Percent of Net Assets

^{[2],[11],[12]}

0.70%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[2],[11],[12],[31]}

8.79%

Spread Above Index

^{[2],[11],[12],[31]}

4.75%

Initial Acquisition Date

^{[2],[11],[12]}

Mar. 26, 2021

Principal Amount

^{[2],[11],[12]}

$ 1,280

Amortized Cost

^{[2],[11],[12]}

1,279

Fair Value

^{[2],[4],[11],[12]}

$ 503

Maturity

^{[2],[11],[12]}

Apr. 28, 2028

Percent of Net Assets

^{[2],[11],[12]}

0.40%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[2],[11],[12],[31]}

10.52%

Spread Above Index

^{[2],[11],[12],[31]}

6.75%

Initial Acquisition Date

^{[2],[11],[12]}

Jul. 20, 2022

Principal Amount

^{[2],[11],[12]}

$ 8,908

Amortized Cost

^{[2],[11],[12]}

8,763

Fair Value

^{[2],[4],[11],[12]}

$ 6,976

Maturity

^{[2],[11],[12]}

Aug. 01, 2029

Percent of Net Assets

^{[2],[11],[12]}

5.70%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[2],[31],[33]}

11.50%

Spread Above Index

^{[2],[31],[33]}

4.75%

Initial Acquisition Date

^[2],[33]

Oct. 15, 2021

Principal Amount

^[2],[33]

$ 47

Amortized Cost

^[2],[33]

Fair Value

^[2],[4],[33]

$ 47

Maturity

^[2],[33]

Oct. 15, 2027

Percent of Net Assets

^[2],[33]

0.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:PrimeRateMember

Schedule of Investments [Line Items]

Interest Rate

^{[2],[12],[31]}

9.57%

Spread Above Index

^{[2],[12],[31]}

5.75%

Initial Acquisition Date

^[2],[12]

Oct. 15, 2021

Principal Amount

^[2],[12]

$ 3,132

Amortized Cost

^[2],[12]

3,114

Fair Value

^[2],[4],[12]

$ 3,132

Maturity

^[2],[12]

Oct. 15, 2027

Percent of Net Assets

^[2],[12]

2.50%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[2],[12],[31]}

9.57%

Spread Above Index

^{[2],[12],[31]}

5.75%

Initial Acquisition Date

^[2],[12]

Oct. 15, 2021

Principal Amount

^[2],[12]

$ 1,981

Amortized Cost

^[2],[12]

1,959

Fair Value

^[2],[4],[12]

$ 1,981

Maturity

^[2],[12]

Oct. 15, 2027

Percent of Net Assets

^[2],[12]

1.60%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[2],[12],[31]}

9.57%

Spread Above Index

^{[2],[12],[31]}

5.75%

Initial Acquisition Date

^[2],[12]

Mar. 31, 2023

Principal Amount

^[2],[12]

$ 2,204

Amortized Cost

^[2],[12]

2,182

Fair Value

^[2],[4],[12]

$ 2,204

Maturity

^[2],[12]

Oct. 15, 2027

Percent of Net Assets

^[2],[12]

1.80%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Spread Above Index

^{[12],[31],[33]}

5.75%

Initial Acquisition Date

^[12],[33]

Oct. 15, 2024

Principal Amount

^[12],[33]

$ 0

Amortized Cost

^[12],[33]

(10)

Fair Value

^{[4],[12],[33]}

$ (10)

Maturity

^[12],[33]

Oct. 15, 2026

Percent of Net Assets

^[12],[33]

0.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^[2],[31]

10.75%

Spread Above Index

^[2],[31]

6.75%

Initial Acquisition Date

^[2]

Jan. 27, 2022

Principal Amount

^[2]

$ 2,683

Amortized Cost

^[2]

2,683

Fair Value

^[2],[4]

$ 2,500

Maturity

^[2]

Mar. 02, 2029

Percent of Net Assets

^[2]

2.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[2],[14],[31]}

10.82%

Spread Above Index

^{[2],[14],[31]}

7.00%

Initial Acquisition Date

^[2],[14]

Oct. 01, 2018

Principal Amount

^[2],[14]

$ 2,344

Amortized Cost

^[2],[14]

2,344

Fair Value

^[2],[4],[14]

$ 2,344

Maturity

^[2],[14]

Oct. 01, 2026

Percent of Net Assets

^[2],[14]

1.90%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Inergex Holdings, LLC FLD Industry Other Computer Related Services IR 10.82% SAI SOFR+7.00% IAD 10/1/2018 MD 10/1/2026

Schedule of Investments [Line Items]

Interest Rate

^{[2],[14],[31]}

10.82%

Spread Above Index

^{[2],[14],[31]}

7.00%

Initial Acquisition Date

^[2],[14]

Oct. 01, 2018

Principal Amount

^[2],[14]

$ 14,616

Amortized Cost

^[2],[14]

14,562

Fair Value

^[2],[4],[14]

$ 14,616

Maturity

^[2],[14]

Oct. 01, 2026

Percent of Net Assets

^[2],[14]

12.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Spread Above Index

^{[2],[31],[33]}

5.50%

Initial Acquisition Date

^[2],[33]

Dec. 18, 2025

Principal Amount

^[2],[33]

$ 0

Amortized Cost

^[2],[33]

(5)

Fair Value

^[2],[4],[33]

$ (5)

Maturity

^[2],[33]

Dec. 19, 2030

Percent of Net Assets

^[2],[33]

0.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Spread Above Index

^{[2],[31],[33]}

5.50%

Initial Acquisition Date

^[2],[33]

Dec. 18, 2025

Principal Amount

^[2],[33]

$ 0

Amortized Cost

^[2],[33]

(3)

Fair Value

^[2],[4],[33]

$ (3)

Maturity

^[2],[33]

Dec. 19, 2030

Percent of Net Assets

^[2],[33]

0.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[2],[12],[31]}

9.20%

Spread Above Index

^{[2],[12],[31]}

5.50%

Initial Acquisition Date

^[2],[12]

Dec. 18, 2025

Principal Amount

^[2],[12]

$ 525

Amortized Cost

^[2],[12]

516

Fair Value

^[2],[4],[12]

$ 516

Maturity

^[2],[12]

Dec. 19, 2030

Percent of Net Assets

^[2],[12]

0.40%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[2],[12],[21]}

Sep. 30, 2025

Amortized Cost

^{[2],[12],[21]}

$ 2,992

Fair Value

^{[2],[4],[12],[21]}

$ 0

Percent of Net Assets

^{[2],[12],[21]}

0.00%

Schedule of Investments [Line Items]

Interest Rate

^[2],[31]

10.67%

Spread Above Index

^[2],[31]

7.00%

Initial Acquisition Date

^[2]

Oct. 02, 2025

Principal Amount

^[2]

$ 335

Amortized Cost

^[2]

335

Fair Value

^[2],[4]

$ 335

Maturity

^[2]

Sep. 30, 2030

Percent of Net Assets

^[2]

0.30%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest rate, cash

^{[2],[31],[35]}

5.17%

Interest Rate, PIK

^{[2],[31],[35]}

4.00%

Spread Above Index

^{[2],[31],[35]}

5.50%

Initial Acquisition Date

^[2],[35]

Jan. 14, 2021

Principal Amount

^[2],[35]

$ 1,499

Amortized Cost

^[2],[35]

1,499

Fair Value

^[2],[4],[35]

$ 1,474

Maturity

^[2],[35]

Mar. 31, 2031

Percent of Net Assets

^[2],[35]

1.20%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[2],[29],[31],[33]}

10.09%

Spread Above Index

^{[2],[29],[31],[33]}

6.25%

Initial Acquisition Date

^{[2],[29],[33]}

Dec. 20, 2021

Principal Amount

^{[2],[29],[33]}

$ 1,337

Amortized Cost

^{[2],[29],[33]}

1,335

Fair Value

^{[2],[4],[29],[33]}

$ 1,300

Maturity

^{[2],[29],[33]}

Dec. 20, 2026

Percent of Net Assets

^{[2],[29],[33]}

1.10%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest rate, cash

^{[2],[12],[29],[31],[35]}

10.07%

Interest Rate, PIK

^{[2],[12],[29],[31],[35]}

0.50%

Spread Above Index

^{[2],[12],[29],[31],[35]}

6.25%

Initial Acquisition Date

^{[2],[12],[29],[35]}

Dec. 20, 2021

Principal Amount

^{[2],[12],[29],[35]}

$ 17,256

Amortized Cost

^{[2],[12],[29],[35]}

17,233

Fair Value

^{[2],[4],[12],[29],[35]}

$ 16,773

Maturity

^{[2],[12],[29],[35]}

Dec. 20, 2026

Percent of Net Assets

^{[2],[12],[29],[35]}

13.60%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[2],[11],[12],[31]}

8.59%

Spread Above Index

^{[2],[11],[12],[31]}

4.75%

Initial Acquisition Date

^{[2],[11],[12]}

Oct. 28, 2025

Principal Amount

^{[2],[11],[12]}

$ 1,500

Amortized Cost

^{[2],[11],[12]}

1,483

Fair Value

^{[2],[4],[11],[12]}

$ 1,493

Maturity

^{[2],[11],[12]}

Aug. 25, 2031

Percent of Net Assets

^{[2],[11],[12]}

1.20%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Spread Above Index

^{[2],[31],[33]}

6.00%

Initial Acquisition Date

^[2],[33]

Oct. 20, 2023

Principal Amount

^[2],[33]

$ 0

Amortized Cost

^[2],[33]

(5)

Fair Value

^[2],[4],[33]

$ 0

Maturity

^[2],[33]

Oct. 20, 2029

Percent of Net Assets

^[2],[33]

0.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Medrina LLC FLD Industry All Other Outpatient Care Centers IR 10.22% SAI SOFR+6.00% IAD 10/20/2023 MD 10/20/2029

Schedule of Investments [Line Items]

Interest Rate

^{[2],[12],[31]}

10.22%

Spread Above Index

^{[2],[12],[31]}

6.00%

Initial Acquisition Date

^[2],[12]

Oct. 20, 2023

Principal Amount

^[2],[12]

$ 367

Amortized Cost

^[2],[12]

364

Fair Value

^[2],[4],[12]

$ 367

Maturity

^[2],[12]

Oct. 20, 2029

Percent of Net Assets

^[2],[12]

0.30%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt Inv. Medrina LLC FLD Industry All Other Outpatient Care Centers IR 9.69% SAI SOFR+6.00% IAD 10/20/2023 MD 10/20/2029

Schedule of Investments [Line Items]

Interest Rate

^{[2],[12],[31]}

9.69%

Spread Above Index

^{[2],[12],[31]}

6.00%

Initial Acquisition Date

^[2],[12]

Oct. 20, 2023

Principal Amount

^[2],[12]

$ 2,190

Amortized Cost

^[2],[12]

2,155

Fair Value

^[2],[4],[12]

$ 2,190

Maturity

^[2],[12]

Oct. 20, 2029

Percent of Net Assets

^[2],[12]

1.80%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest rate, cash

^{[2],[12],[31]}

10.18%

Interest Rate, PIK

^{[2],[12],[31]}

0.50%

Spread Above Index

^{[2],[12],[31]}

6.25%

Initial Acquisition Date

^[2],[12]

May 17, 2022

Principal Amount

^[2],[12]

$ 2,727

Amortized Cost

^[2],[12]

2,708

Fair Value

^[2],[4],[12]

$ 2,645

Maturity

^[2],[12]

May 17, 2027

Percent of Net Assets

^[2],[12]

2.10%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt and Equity Inv. RPLF Holdings, LLC CE Industry Software Publishers IAD 1/17/2018

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[1],[23],[26]}

Jan. 17, 2018

Amortized Cost

^{[1],[23],[26]}

$ 0

Fair Value

^{[1],[3],[23],[26]}

$ 2,258

Percent of Net Assets

^{[1],[23],[26]}

2.30%

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt and Equity Inv. Sentry Centers Holdings, LLC PE Industry Convention and Trade Show Organizers IAD 9/4/2020

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[1],[23],[26]}

Sep. 04, 2020

Amortized Cost

^{[1],[23],[26]}

$ 160

Fair Value

^{[1],[3],[23],[26]}

$ 1

Percent of Net Assets

^{[1],[23],[26]}

0.00%

Schedule of Investments [Line Items]

Interest Rate

^{[1],[3],[7],[9],[15],[38]}

7.42%

Spread Above Index

^{[1],[3],[7],[9],[15],[38]}

3.50%

Initial Acquisition Date

^{[1],[9],[15],[38]}

Mar. 25, 2021

Principal Amount

^{[1],[9],[15],[38]}

$ 1,506

Amortized Cost

^{[1],[9],[15],[38]}

1,503

Fair Value

^{[1],[3],[9],[15],[38]}

$ 397

Maturity

^{[1],[9],[15],[38]}

Apr. 03, 2028

Percent of Net Assets

^{[1],[9],[15],[38]}

0.40%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[1],[3],[7],[9],[38]}

9.56%

Spread Above Index

^{[1],[3],[7],[9],[38]}

5.75%

Initial Acquisition Date

^[1],[9],[38]

May 23, 2024

Principal Amount

^[1],[9],[38]

$ 525

Amortized Cost

^[1],[9],[38]

513

Fair Value

^{[1],[3],[9],[38]}

$ 501

Maturity

^[1],[9],[38]

Sep. 04, 2029

Percent of Net Assets

^[1],[9],[38]

0.50%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Debt and Equity Inv. TalentSmart Holdings, LLC CE Industry Professional and Management Development Training IAD 10/11/2019

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[1],[23],[26],[28]}

Oct. 11, 2019

Amortized Cost

^{[1],[23],[26],[28]}

$ 670

Fair Value

^{[1],[3],[23],[26],[28]}

$ 620

Percent of Net Assets

^{[1],[23],[26],[28]}

0.60%

Schedule of Investments [Line Items]

Interest rate, cash

^[1],[7],[9]

10.00%

Interest Rate, PIK

^[1],[7],[9]

1.25%

Spread Above Index

^[1],[7],[9]

6.00%

Initial Acquisition Date

^[1],[9]

Oct. 14, 2021

Principal Amount

^[1],[9]

$ 14,580

Amortized Cost

^[1],[9]

14,551

Fair Value

^[1],[3],[9]

$ 7,815

Maturity

^[1],[9]

Oct. 14, 2027

Percent of Net Assets

^[1],[9]

7.90%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^[1],[7],[30]

10.00%

Spread Above Index

^[1],[7],[30]

6.00%

Initial Acquisition Date

^[1],[30]

Oct. 14, 2021

Principal Amount

^[1],[30]

$ 1,235

Amortized Cost

^[1],[30]

1,234

Fair Value

^[1],[3],[30]

$ 519

Maturity

^[1],[30]

Oct. 14, 2027

Percent of Net Assets

^[1],[30]

0.50%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^[1],[7],[9]

11.13%

Spread Above Index

^[1],[7],[9]

7.13%

Initial Acquisition Date

^[1],[9]

Jan. 28, 2022

Principal Amount

^[1],[9]

$ 8,317

Amortized Cost

^[1],[9]

8,304

Fair Value

^[1],[3],[9]

$ 8,317

Maturity

^[1],[9]

Nov. 16, 2027

Percent of Net Assets

^[1],[9]

8.40%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^[1],[7],[9]

9.40%

Spread Above Index

^[1],[7],[9]

5.50%

Initial Acquisition Date

^[1],[9]

Jul. 22, 2022

Principal Amount

^[1],[9]

$ 1,925

Amortized Cost

^[1],[9]

1,917

Fair Value

^[1],[3],[9]

$ 1,848

Maturity

^[1],[9]

Jul. 22, 2027

Percent of Net Assets

^[1],[9]

1.90%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^[1],[7],[9]

9.40%

Spread Above Index

^[1],[7],[9]

5.50%

Initial Acquisition Date

^[1],[9]

Jul. 31, 2023

Principal Amount

^[1],[9]

$ 45

Amortized Cost

^[1],[9]

Fair Value

^[1],[3],[9]

$ 43

Maturity

^[1],[9]

Jul. 22, 2027

Percent of Net Assets

^[1],[9]

0.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^[1],[7],[9]

9.72%

Spread Above Index

^[1],[7],[9]

5.50%

Initial Acquisition Date

^[1],[9]

Mar. 02, 2021

Principal Amount

^[1],[9]

$ 3,623

Amortized Cost

^[1],[9]

3,623

Fair Value

^[1],[3],[9]

$ 2,047

Maturity

^[1],[9]

Feb. 10, 2027

Percent of Net Assets

^[1],[9]

2.10%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[9],[38]}

8.07%

Spread Above Index

^{[1],[7],[9],[38]}

4.25%

Initial Acquisition Date

^[1],[9],[38]

Oct. 28, 2025

Principal Amount

^[1],[9],[38]

$ 1,989

Amortized Cost

^[1],[9],[38]

1,952

Fair Value

^{[1],[3],[9],[38]}

$ 1,941

Maturity

^[1],[9],[38]

Sep. 19, 2030

Percent of Net Assets

^[1],[9],[38]

2.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Avison Young Inc. CE Industry Nonresidential Property Managers IAD 3/12/2024

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[1],[8],[9],[23],[26]}

Mar. 12, 2024

Amortized Cost

^{[1],[8],[9],[23],[26]}

$ 1,400

Fair Value

^{[1],[3],[8],[9],[23],[26]}

$ 0

Percent of Net Assets

^{[1],[8],[9],[23],[26]}

0.00%

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[8],[9],[39]}

11.36%

Spread Above Index

^{[1],[7],[8],[9],[39]}

7.35%

Initial Acquisition Date

^{[1],[8],[9],[39]}

Dec. 18, 2025

Principal Amount

^{[1],[8],[9],[39]}

$ 242

Amortized Cost

^{[1],[8],[9],[39]}

242

Fair Value

^{[1],[3],[8],[9],[39]}

$ 240

Maturity

^{[1],[8],[9],[39]}

Dec. 12, 2027

Percent of Net Assets

^{[1],[8],[9],[39]}

0.20%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[8],[9],[39]}

11.36%

Spread Above Index

^{[1],[7],[8],[9],[39]}

7.35%

Initial Acquisition Date

^{[1],[8],[9],[39]}

Aug. 27, 2026

Principal Amount

^{[1],[8],[9],[39]}

$ 751

Amortized Cost

^{[1],[8],[9],[39]}

605

Fair Value

^{[1],[3],[8],[9],[39]}

$ 745

Maturity

^{[1],[8],[9],[39]}

Dec. 12, 2027

Percent of Net Assets

^{[1],[8],[9],[39]}

0.80%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[8],[9],[15],[39]}

11.62%

Spread Above Index

^{[1],[7],[8],[9],[15],[39]}

7.50%

Initial Acquisition Date

^{[1],[8],[9],[15],[39]}

Nov. 25, 2021

Principal Amount

^{[1],[8],[9],[15],[39]}

$ 1,236

Amortized Cost

^{[1],[8],[9],[15],[39]}

1,236

Fair Value

^{[1],[3],[8],[9],[15],[39]}

$ 68

Maturity

^{[1],[8],[9],[15],[39]}

Mar. 12, 2029

Percent of Net Assets

^{[1],[8],[9],[15],[39]}

0.10%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[8],[9],[39]}

12.51%

Spread Above Index

^{[1],[7],[8],[9],[39]}

8.50%

Initial Acquisition Date

^{[1],[8],[9],[39]}

Dec. 18, 2025

Principal Amount

^{[1],[8],[9],[39]}

$ 89

Amortized Cost

^{[1],[8],[9],[39]}

Fair Value

^{[1],[3],[8],[9],[39]}

$ 89

Maturity

^{[1],[8],[9],[39]}

Dec. 12, 2027

Percent of Net Assets

^{[1],[8],[9],[39]}

0.10%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[8],[9],[39]}

12.51%

Spread Above Index

^{[1],[7],[8],[9],[39]}

8.50%

Initial Acquisition Date

^{[1],[8],[9],[39]}

Dec. 18, 2025

Principal Amount

^{[1],[8],[9],[39]}

$ 37

Amortized Cost

^{[1],[8],[9],[39]}

Fair Value

^{[1],[3],[8],[9],[39]}

$ 37

Maturity

^{[1],[8],[9],[39]}

Dec. 12, 2027

Percent of Net Assets

^{[1],[8],[9],[39]}

0.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[8],[9],[39]}

12.51%

Spread Above Index

^{[1],[7],[8],[9],[39]}

8.50%

Initial Acquisition Date

^{[1],[8],[9],[39]}

Jul. 29, 2026

Principal Amount

^{[1],[8],[9],[39]}

$ 108

Amortized Cost

^{[1],[8],[9],[39]}

108

Fair Value

^{[1],[3],[8],[9],[39]}

$ 107

Maturity

^{[1],[8],[9],[39]}

Dec. 12, 2027

Percent of Net Assets

^{[1],[8],[9],[39]}

0.10%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Avison Young Inc. PE Industry Nonresidential Property Managers IAD 3/12/2024

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[1],[8],[9],[23],[26]}

Mar. 12, 2024

Amortized Cost

^{[1],[8],[9],[23],[26]}

$ 1,270

Fair Value

^{[1],[3],[8],[9],[23],[26]}

$ 0

Percent of Net Assets

^{[1],[8],[9],[23],[26]}

0.00%

Schedule of Investments [Line Items]

Initial Acquisition Date

^[1],[9],[23]

Sep. 30, 2026

Amortized Cost

^[1],[9],[23]

$ 8,140

Fair Value

^{[1],[3],[9],[23]}

$ 0

Percent of Net Assets

^[1],[9],[23]

0.00%

Schedule of Investments [Line Items]

Initial Acquisition Date

^[1],[9],[23]

Sep. 30, 2026

Amortized Cost

^[1],[9],[23]

$ 752

Fair Value

^{[1],[3],[9],[23]}

$ 107

Percent of Net Assets

^[1],[9],[23]

0.10%

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[9],[38]}

7.40%

Spread Above Index

^{[1],[7],[9],[38]}

3.50%

Initial Acquisition Date

^[1],[9],[38]

Mar. 25, 2026

Principal Amount

^[1],[9],[38]

$ 496

Amortized Cost

^[1],[9],[38]

492

Fair Value

^{[1],[3],[9],[38]}

$ 490

Maturity

^[1],[9],[38]

Mar. 12, 2029

Percent of Net Assets

^[1],[9],[38]

0.50%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Initial Acquisition Date

^[1],[23]

Feb. 25, 2022

Amortized Cost

^[1],[23]

$ 1,290

Fair Value

^[1],[3],[23]

$ 734

Percent of Net Assets

^[1],[23]

0.70%

Schedule of Investments [Line Items]

Interest Rate

^[1],[7],[9]

10.85%

Spread Above Index

^[1],[7],[9]

6.50%

Initial Acquisition Date

^[1],[9]

Feb. 25, 2022

Principal Amount

^[1],[9]

$ 8,803

Amortized Cost

^[1],[9]

8,766

Fair Value

^[1],[3],[9]

$ 8,800

Maturity

^[1],[9]

Feb. 25, 2029

Percent of Net Assets

^[1],[9]

8.90%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^[1],[7],[30]

10.85%

Spread Above Index

^[1],[7],[30]

6.50%

Initial Acquisition Date

^[1],[30]

Feb. 25, 2022

Principal Amount

^[1],[30]

$ 226

Amortized Cost

^[1],[30]

224

Fair Value

^[1],[3],[30]

$ 226

Maturity

^[1],[30]

Feb. 25, 2029

Percent of Net Assets

^[1],[30]

0.20%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Initial Acquisition Date

^[1]

Mar. 03, 2023

Amortized Cost

^[1]

$ 345

Fair Value

^[1],[3]

$ 368

Percent of Net Assets

^[1]

0.40%

Schedule of Investments [Line Items]

Interest Rate

^[1],[7],[9]

10.97%

Spread Above Index

^[1],[7],[9]

6.75%

Initial Acquisition Date

^[1],[9]

Nov. 03, 2023

Principal Amount

^[1],[9]

$ 3,109

Amortized Cost

^[1],[9]

3,080

Fair Value

^[1],[3],[9]

$ 2,876

Maturity

^[1],[9]

Dec. 30, 2027

Percent of Net Assets

^[1],[9]

2.90%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^[1],[7],[30]

12.75%

Spread Above Index

^[1],[7],[30]

5.75%

Initial Acquisition Date

^[1],[30]

Nov. 03, 2023

Principal Amount

^[1],[30]

$ 218

Amortized Cost

^[1],[30]

215

Fair Value

^[1],[3],[30]

$ 196

Maturity

^[1],[30]

Dec. 30, 2027

Percent of Net Assets

^[1],[30]

0.20%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:PrimeRateMember

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Constellis Holdings, LLC CE Industry Other Justice, Public Order, and Safety Activities IAD 3/27/2020

Schedule of Investments [Line Items]

Initial Acquisition Date

^[1],[23]

Mar. 27, 2020

Amortized Cost

^[1],[23]

$ 703

Fair Value

^[1],[3],[23]

$ 26

Percent of Net Assets

^[1],[23]

0.00%

Schedule of Investments [Line Items]

Spread Above Index

^[1],[7],[30]

5.25%

Initial Acquisition Date

^[1],[30]

Apr. 14, 2026

Principal Amount

^[1],[30]

$ 0

Amortized Cost

^[1],[30]

Fair Value

^[1],[3],[30]

$ 0

Maturity

^[1],[30]

Apr. 14, 2031

Percent of Net Assets

^[1],[30]

0.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[9],[30]}

9.09%

Spread Above Index

^{[1],[7],[9],[30]}

5.25%

Initial Acquisition Date

^[1],[9],[30]

Apr. 14, 2026

Principal Amount

^[1],[9],[30]

$ 106

Amortized Cost

^[1],[9],[30]

105

Fair Value

^{[1],[3],[9],[30]}

$ 105

Maturity

^[1],[9],[30]

Apr. 14, 2031

Percent of Net Assets

^[1],[9],[30]

0.10%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^[1],[7],[9]

9.24%

Spread Above Index

^[1],[7],[9]

5.25%

Initial Acquisition Date

^[1],[9]

Apr. 14, 2026

Principal Amount

^[1],[9]

$ 349

Amortized Cost

^[1],[9]

346

Fair Value

^[1],[3],[9]

$ 346

Maturity

^[1],[9]

Apr. 14, 2031

Percent of Net Assets

^[1],[9]

0.40%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate, PIK

^[1],[7],[15]

18.00%

Initial Acquisition Date

^[1],[15]

Oct. 25, 2018

Principal Amount

^[1],[15]

$ 8,135

Amortized Cost

^[1],[15]

6,765

Fair Value

^[1],[3],[15]

$ 976

Maturity

^{[1],[13],[15],[40]}

Oct. 01, 2026

Percent of Net Assets

^[1],[15]

1.00%

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[9],[38]}

10.92%

Spread Above Index

^{[1],[7],[9],[38]}

6.75%

Initial Acquisition Date

^[1],[9],[38]

Jul. 20, 2022

Principal Amount

^[1],[9],[38]

$ 8,839

Amortized Cost

^[1],[9],[38]

8,725

Fair Value

^{[1],[3],[9],[38]}

$ 6,134

Maturity

^[1],[9],[38]

Aug. 01, 2029

Percent of Net Assets

^[1],[9],[38]

6.20%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Spread Above Index

^[1],[7],[30]

4.75%

Initial Acquisition Date

^[1],[30]

Oct. 15, 2021

Principal Amount

^[1],[30]

$ 0

Amortized Cost

^[1],[30]

Fair Value

^[1],[3],[30]

$ 0

Maturity

^[1],[30]

Oct. 15, 2027

Percent of Net Assets

^[1],[30]

0.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:PrimeRateMember

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Honor HN Buyer Inc. FDL Industry Services for the Elderly and Persons with Disabilities IR 9.97% SAI SOFR+5.75% IAD 10/15/2021 Maturity 10/15/2027

Schedule of Investments [Line Items]

Interest Rate

^[1],[7],[9]

9.97%

Spread Above Index

^[1],[7],[9]

5.75%

Initial Acquisition Date

^[1],[9]

Oct. 15, 2021

Principal Amount

^[1],[9]

$ 984

Amortized Cost

^[1],[9]

981

Fair Value

^[1],[3],[9]

$ 984

Maturity

^[1],[9]

Oct. 15, 2027

Percent of Net Assets

^[1],[9]

1.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Honor HN Buyer Inc. FDL Industry Services for the Elderly and Persons with Disabilities IR 9.97% SAI SOFR+5.75% IAD 10/15/2021 Maturity 10/15/2027 One

Schedule of Investments [Line Items]

Interest Rate

^[1],[7],[9]

9.97%

Spread Above Index

^[1],[7],[9]

5.75%

Initial Acquisition Date

^[1],[9]

Oct. 15, 2021

Principal Amount

^[1],[9]

$ 622

Amortized Cost

^[1],[9]

613

Fair Value

^[1],[3],[9]

$ 622

Maturity

^[1],[9]

Oct. 15, 2027

Percent of Net Assets

^[1],[9]

0.60%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Honor HN Buyer Inc. FDL Industry Services for the Elderly and Persons with Disabilities IR 9.97% SAI SOFR+5.75% IAD 10/15/2024 Maturity 10/15/2027

Schedule of Investments [Line Items]

Interest Rate

^[1],[7],[9]

9.97%

Spread Above Index

^[1],[7],[9]

5.75%

Initial Acquisition Date

^[1],[9]

Oct. 15, 2024

Principal Amount

^[1],[9]

$ 598

Amortized Cost

^[1],[9]

596

Fair Value

^[1],[3],[9]

$ 598

Maturity

^[1],[9]

Oct. 15, 2027

Percent of Net Assets

^[1],[9]

0.60%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Honor HN Buyer Inc. FDL Industry Services for the Elderly and Persons with Disabilities IR 9.97% SAI SOFR+5.75% IAD 3/31/2023 Maturity 10/15/2027

Schedule of Investments [Line Items]

Interest Rate

^[1],[7],[9]

9.97%

Spread Above Index

^[1],[7],[9]

5.75%

Initial Acquisition Date

^[1],[9]

Mar. 31, 2023

Principal Amount

^[1],[9]

$ 693

Amortized Cost

^[1],[9]

680

Fair Value

^[1],[3],[9]

$ 693

Maturity

^[1],[9]

Oct. 15, 2027

Percent of Net Assets

^[1],[9]

0.70%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^[1],[7],[9]

10.17%

Spread Above Index

^[1],[7],[9]

6.00%

Initial Acquisition Date

^[1],[9]

Mar. 24, 2026

Principal Amount

^[1],[9]

$ 306

Amortized Cost

^[1],[9]

300

Fair Value

^[1],[3],[9]

$ 298

Maturity

^[1],[9]

Mar. 24, 2031

Percent of Net Assets

^[1],[9]

0.30%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Spread Above Index

^{[1],[7],[9],[30]}

6.00%

Initial Acquisition Date

^[1],[9],[30]

Mar. 24, 2026

Principal Amount

^[1],[9],[30]

$ 0

Amortized Cost

^[1],[9],[30]

(1)

Fair Value

^{[1],[3],[9],[30]}

$ (4)

Maturity

^[1],[9],[30]

Mar. 24, 2031

Percent of Net Assets

^[1],[9],[30]

0.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^[1],[7],[30]

10.17%

Spread Above Index

^[1],[7],[30]

6.00%

Initial Acquisition Date

^[1],[30]

Mar. 24, 2026

Principal Amount

^[1],[30]

$ 19

Amortized Cost

^[1],[30]

Fair Value

^[1],[3],[30]

$ 18

Maturity

^[1],[30]

Mar. 24, 2031

Percent of Net Assets

^[1],[30]

0.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^[1],[7]

10.71%

Spread Above Index

^[1],[7]

6.75%

Initial Acquisition Date

^[1]

Jan. 27, 2022

Principal Amount

^[1]

$ 2,683

Amortized Cost

^[1]

2,683

Fair Value

^[1],[3]

$ 1,878

Maturity

^[1]

Mar. 02, 2029

Percent of Net Assets

^[1]

1.90%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[13],[39]}

13.22%

Spread Above Index

^{[1],[7],[13],[39]}

9.00%

Initial Acquisition Date

^{[1],[13],[39]}

Oct. 01, 2018

Principal Amount

^{[1],[13],[39]}

$ 2,813

Amortized Cost

^{[1],[13],[39]}

2,813

Fair Value

^{[1],[3],[13],[39]}

$ 2,813

Maturity

^{[1],[13],[39]}

Jun. 30, 2027

Percent of Net Assets

^{[1],[13],[39]}

2.80%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[13],[39]}

13.22%

Spread Above Index

^{[1],[7],[13],[39]}

9.00%

Initial Acquisition Date

^{[1],[13],[39]}

Oct. 01, 2018

Principal Amount

^{[1],[13],[39]}

$ 14,490

Amortized Cost

^{[1],[13],[39]}

14,490

Fair Value

^{[1],[3],[13],[39]}

$ 14,490

Maturity

^{[1],[13],[39]}

Jun. 30, 2027

Percent of Net Assets

^{[1],[13],[39]}

14.70%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^[1],[7],[9]

9.82%

Spread Above Index

^[1],[7],[9]

5.75%

Initial Acquisition Date

^[1],[9]

Dec. 18, 2025

Principal Amount

^[1],[9]

$ 521

Amortized Cost

^[1],[9]

513

Fair Value

^[1],[3],[9]

$ 510

Maturity

^[1],[9]

Dec. 19, 2030

Percent of Net Assets

^[1],[9]

0.50%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Spread Above Index

^[1],[7],[30]

5.75%

Initial Acquisition Date

^[1],[30]

Dec. 18, 2025

Principal Amount

^[1],[30]

$ 0

Amortized Cost

^[1],[30]

(2)

Fair Value

^[1],[3],[30]

$ (6)

Maturity

^[1],[30]

Dec. 19, 2030

Percent of Net Assets

^[1],[30]

0.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^[1],[7],[30]

9.57%

Spread Above Index

^[1],[7],[30]

5.50%

Initial Acquisition Date

^[1],[30]

Dec. 18, 2025

Principal Amount

^[1],[30]

$ 45

Amortized Cost

^[1],[30]

Fair Value

^[1],[3],[30]

$ 42

Maturity

^[1],[30]

Dec. 19, 2030

Percent of Net Assets

^[1],[30]

0.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. JP Intermediate B, LLC CE Industry Drugs and Druggists' Sundries Merchant Wholesalers IR IAD 9/30/2025

Schedule of Investments [Line Items]

Initial Acquisition Date

^[1],[9],[23]

Sep. 30, 2025

Amortized Cost

^[1],[9],[23]

$ 2,992

Fair Value

^{[1],[3],[9],[23]}

$ 0

Percent of Net Assets

^[1],[9],[23]

0.00%

Schedule of Investments [Line Items]

Interest Rate

^[1],[7]

11.07%

Spread Above Index

^[1],[7]

7.00%

Initial Acquisition Date

^[1]

Oct. 02, 2025

Principal Amount

^[1]

$ 332

Amortized Cost

^[1]

332

Fair Value

^[1],[3]

$ 332

Maturity

^[1]

Sep. 30, 2030

Percent of Net Assets

^[1]

0.30%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. JP Intermediate B, LLC FLD Industry Drugs and Druggists' Sundries Merchant Wholesalers IR 9.57% SAI SOFR+5.50% IAD 1/14/2021 Maturity 3/31/2031

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[9],[39]}

9.57%

Spread Above Index

^{[1],[7],[9],[39]}

5.50%

Initial Acquisition Date

^[1],[9],[39]

Jan. 14, 2021

Principal Amount

^[1],[9],[39]

$ 1,499

Amortized Cost

^[1],[9],[39]

1,499

Fair Value

^{[1],[3],[9],[39]}

$ 1,060

Maturity

^[1],[9],[39]

Mar. 31, 2031

Percent of Net Assets

^[1],[9],[39]

1.10%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[9],[38]}

8.57%

Spread Above Index

^{[1],[7],[9],[38]}

4.75%

Initial Acquisition Date

^[1],[9],[38]

Oct. 28, 2025

Principal Amount

^[1],[9],[38]

$ 1,952

Amortized Cost

^[1],[9],[38]

1,953

Fair Value

^{[1],[3],[9],[38]}

$ 1,962

Maturity

^[1],[9],[38]

Aug. 25, 2031

Percent of Net Assets

^[1],[9],[38]

2.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^[1],[7],[9]

9.32%

Spread Above Index

^[1],[7],[9]

5.25%

Initial Acquisition Date

^[1],[9]

Jun. 09, 2026

Principal Amount

^[1],[9]

$ 986

Amortized Cost

^[1],[9]

972

Fair Value

^[1],[3],[9]

$ 973

Maturity

^[1],[9]

Jun. 09, 2031

Percent of Net Assets

^[1],[9]

1.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Spread Above Index

^[1],[7],[30]

5.25%

Initial Acquisition Date

^[1],[30]

Jun. 09, 2026

Principal Amount

^[1],[30]

$ 0

Amortized Cost

^[1],[30]

(4)

Fair Value

^[1],[3],[30]

$ (3)

Maturity

^[1],[30]

Jun. 09, 2031

Percent of Net Assets

^[1],[30]

0.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^[1],[7],[9]

9.66%

Spread Above Index

^[1],[7],[9]

6.00%

Initial Acquisition Date

^[1],[9]

Oct. 20, 2023

Principal Amount

^[1],[9]

$ 2,173

Amortized Cost

^[1],[9]

2,145

Fair Value

^[1],[3],[9]

$ 2,156

Maturity

^[1],[9]

Oct. 20, 2029

Percent of Net Assets

^[1],[9]

2.20%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^[1],[7],[9]

9.84%

Spread Above Index

^[1],[7],[9]

6.00%

Initial Acquisition Date

^[1],[9]

Oct. 20, 2023

Principal Amount

^[1],[9]

$ 365

Amortized Cost

^[1],[9]

362

Fair Value

^[1],[3],[9]

$ 362

Maturity

^[1],[9]

Oct. 20, 2029

Percent of Net Assets

^[1],[9]

0.40%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Spread Above Index

^[1],[7],[30]

6.00%

Initial Acquisition Date

^[1],[30]

Oct. 20, 2023

Principal Amount

^[1],[30]

$ 0

Amortized Cost

^[1],[30]

(4)

Fair Value

^[1],[3],[30]

$ (4)

Maturity

^[1],[30]

Oct. 20, 2029

Percent of Net Assets

^[1],[30]

0.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[9],[39]}

11.09%

Spread Above Index

^{[1],[7],[9],[39]}

6.75%

Initial Acquisition Date

^[1],[9],[39]

May 17, 2022

Principal Amount

^[1],[9],[39]

$ 2,716

Amortized Cost

^[1],[9],[39]

2,706

Fair Value

^{[1],[3],[9],[39]}

$ 2,607

Maturity

^[1],[9],[39]

May 17, 2027

Percent of Net Assets

^[1],[9],[39]

2.60%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[9],[39]}

8.86%

Spread Above Index

^{[1],[7],[9],[39]}

5.00%

Initial Acquisition Date

^[1],[9],[39]

Aug. 20, 2026

Principal Amount

^[1],[9],[39]

$ 2,000

Amortized Cost

^[1],[9],[39]

1,993

Fair Value

^{[1],[3],[9],[39]}

$ 1,993

Maturity

^[1],[9],[39]

Feb. 03, 2033

Percent of Net Assets

^[1],[9],[39]

2.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[15],[39]}

10.75%

Spread Above Index

^{[1],[7],[15],[39]}

6.75%

Initial Acquisition Date

^{[1],[15],[39]}

Dec. 13, 2021

Principal Amount

^{[1],[15],[39]}

$ 1,549

Amortized Cost

^{[1],[15],[39]}

1,443

Fair Value

^{[1],[3],[15],[39]}

$ 1,228

Maturity

^{[1],[15],[39]}

Oct. 31, 2026

Percent of Net Assets

^{[1],[15],[39]}

1.20%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^[2],[31]

10.57%

Spread Above Index

^[2],[31]

6.75%

Initial Acquisition Date

^[2]

Dec. 13, 2021

Principal Amount

^[2]

$ 1,444

Amortized Cost

^[2]

1,444

Fair Value

^[2],[4]

$ 1,313

Maturity

^[2],[41]

Dec. 22, 2025

Percent of Net Assets

^[2]

1.10%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[2],[12],[31]}

10.57%

Spread Above Index

^{[2],[12],[31]}

6.75%

Initial Acquisition Date

^[2],[12]

Dec. 13, 2021

Principal Amount

^[2],[12]

$ 7,280

Amortized Cost

^[2],[12]

7,280

Fair Value

^[2],[4],[12]

$ 6,618

Maturity

^{[2],[12],[41]}

Dec. 22, 2025

Percent of Net Assets

^[2],[12]

5.40%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[2],[12],[31]}

10.57%

Spread Above Index

^{[2],[12],[31]}

6.75%

Initial Acquisition Date

^[2],[12]

Dec. 13, 2021

Principal Amount

^[2],[12]

$ 3,837

Amortized Cost

^[2],[12]

3,837

Fair Value

^[2],[4],[12]

$ 3,488

Maturity

^{[2],[12],[41]}

Dec. 22, 2025

Percent of Net Assets

^[2],[12]

2.80%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate, PIK

^{[1],[7],[9],[15],[39]}

10.75%

Spread Above Index

^{[1],[7],[9],[15],[39]}

6.75%

Initial Acquisition Date

^{[1],[9],[15],[39]}

Dec. 13, 2021

Principal Amount

^{[1],[9],[15],[39]}

$ 7,807

Amortized Cost

^{[1],[9],[15],[39]}

7,274

Fair Value

^{[1],[3],[9],[15],[39]}

$ 6,191

Maturity

^{[1],[9],[15],[39]}

Oct. 31, 2026

Percent of Net Assets

^{[1],[9],[15],[39]}

6.30%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate, PIK

^{[1],[7],[9],[15],[39]}

10.75%

Spread Above Index

^{[1],[7],[9],[15],[39]}

6.75%

Initial Acquisition Date

^{[1],[9],[15],[39]}

Dec. 13, 2021

Principal Amount

^{[1],[9],[15],[39]}

$ 4,115

Amortized Cost

^{[1],[9],[15],[39]}

3,834

Fair Value

^{[1],[3],[9],[15],[39]}

$ 3,263

Maturity

^{[1],[9],[15],[39]}

Oct. 31, 2026

Percent of Net Assets

^{[1],[9],[15],[39]}

3.30%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. PM Acquisition LLC CE (499 units) Industry All Other General Merchandise Stores IAD 9/30/2017

Schedule of Investments [Line Items]

Initial Acquisition Date

^[1]

Sep. 30, 2017

Amortized Cost

^[1]

$ 231

Fair Value

^[1],[3]

$ 1,414

Percent of Net Assets

^[1]

1.40%

Schedule of Investments [Line Items]

Spread Above Index

^[1],[7],[30]

6.50%

Initial Acquisition Date

^[1],[30]

Apr. 17, 2025

Principal Amount

^[1],[30]

$ 0

Amortized Cost

^[1],[30]

(4)

Fair Value

^[1],[3],[30]

$ (0)

Maturity

^[1],[30]

Apr. 17, 2030

Percent of Net Assets

^[1],[30]

0.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^[1],[7],[9]

10.40%

Spread Above Index

^[1],[7],[9]

6.50%

Initial Acquisition Date

^[1],[9]

Apr. 17, 2025

Principal Amount

^[1],[9]

$ 7,822

Amortized Cost

^[1],[9]

7,794

Fair Value

^[1],[3],[9]

$ 7,900

Maturity

^[1],[9]

Apr. 17, 2030

Percent of Net Assets

^[1],[9]

8.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[2],[12],[14],[31]}

10.47%

Spread Above Index

^{[2],[12],[14],[31]}

6.75%

Initial Acquisition Date

^{[2],[12],[14]}

Apr. 17, 2025

Principal Amount

^{[2],[12],[14]}

$ 7,882

Amortized Cost

^{[2],[12],[14]}

7,848

Fair Value

^{[2],[4],[12],[14]}

$ 7,879

Maturity

^{[2],[12],[14]}

Apr. 17, 2030

Percent of Net Assets

^{[2],[12],[14]}

6.40%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[2],[14],[31],[33]}

10.47%

Spread Above Index

^{[2],[14],[31],[33]}

6.75%

Initial Acquisition Date

^{[2],[14],[33]}

Apr. 17, 2025

Principal Amount

^{[2],[14],[33]}

$ 406

Amortized Cost

^{[2],[14],[33]}

401

Fair Value

^{[2],[4],[14],[33]}

$ 405

Maturity

^{[2],[14],[33]}

Apr. 17, 2030

Percent of Net Assets

^{[2],[14],[33]}

0.30%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[9],[38]}

8.32%

Spread Above Index

^{[1],[7],[9],[38]}

4.25%

Initial Acquisition Date

^[1],[9],[38]

Sep. 11, 2026

Principal Amount

^[1],[9],[38]

$ 1,833

Amortized Cost

^[1],[9],[38]

1,829

Fair Value

^{[1],[3],[9],[38]}

$ 1,838

Maturity

^[1],[9],[38]

Feb. 03, 2031

Percent of Net Assets

^[1],[9],[38]

1.90%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

6.50%

^[1],[7],[15]

6.50%

^{[2],[31],[36]}

Initial Acquisition Date

Mar. 13, 2018

^[1],[15]

Mar. 13, 2018

^[2],[36]

Principal Amount

$ 16,648

^[1],[15]

$ 16,648

^[2],[36]

Amortized Cost

14,113

^[1],[15]

14,113

^[2],[36]

Fair Value

$ 8,574

^[1],[3],[15]

$ 7,242

^[2],[4],[36]

Maturity

Dec. 31, 2027

^[1],[15]

Dec. 31, 2027

^[2],[36]

Percent of Net Assets

8.70%

^[1],[15]

5.90%

^[2],[36]

Schedule of Investments [Line Items]

Interest Rate

^{[2],[12],[31]}

8.85%

Spread Above Index

^{[2],[12],[31]}

4.75%

Initial Acquisition Date

^[2],[12]

Apr. 16, 2021

Principal Amount

^[2],[12]

$ 1,715

Amortized Cost

^[2],[12]

1,711

Fair Value

^[2],[4],[12]

$ 1,289

Maturity

^[2],[12]

Apr. 27, 2028

Percent of Net Assets

^[2],[12]

1.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^[1],[7],[9]

8.57%

Spread Above Index

^[1],[9]

4.75%

Initial Acquisition Date

^[1],[9]

Apr. 16, 2021

Principal Amount

^[1],[9]

$ 223

Amortized Cost

^[1],[9]

220

Fair Value

^[1],[3],[9]

$ 215

Maturity

^[1],[9]

Dec. 31, 2030

Percent of Net Assets

^[1],[9]

0.20%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Debt and Equity Inv. Redstone Holdco 2 LP FLD Industry Computer and Computer Peripheral Equipment and Software Merchant Wholesalers IR 9.32% SAI SOFR+5.50% IAD 4/16/2021 Maturity 12/31/2030

Schedule of Investments [Line Items]

Interest Rate

^[1],[7],[9]

9.32%

Spread Above Index

^[1],[7],[9]

5.50%

Initial Acquisition Date

^[1],[9]

Jan. 30, 2026

Principal Amount

^[1],[9]

$ 857

Amortized Cost

^[1],[9]

847

Fair Value

^[1],[3],[9]

$ 812

Maturity

^[1],[9]

Dec. 31, 2030

Percent of Net Assets

^[1],[9]

0.80%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest rate, cash

^{[2],[12],[16],[31],[35]}

10.85%

Interest Rate, PIK

^{[2],[12],[16],[31],[35]}

1.00%

Spread Above Index

^{[2],[12],[16],[31],[35]}

7.75%

Initial Acquisition Date

^{[2],[12],[16],[35]}

Aug. 31, 2021

Principal Amount

^{[2],[12],[16],[35]}

$ 2,384

Amortized Cost

^{[2],[12],[16],[35]}

2,362

Fair Value

^{[2],[4],[12],[16],[35]}

$ 2,299

Maturity

^{[2],[12],[16],[35]}

Sep. 30, 2027

Percent of Net Assets

^{[2],[12],[16],[35]}

1.90%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest rate, cash

^{[2],[12],[16],[31],[35]}

10.85%

Interest Rate, PIK

^{[2],[12],[16],[31],[35]}

1.00%

Spread Above Index

^{[2],[12],[16],[31],[35]}

7.75%

Initial Acquisition Date

^{[2],[12],[16],[35]}

Aug. 31, 2021

Principal Amount

^{[2],[12],[16],[35]}

$ 720

Amortized Cost

^{[2],[12],[16],[35]}

714

Fair Value

^{[2],[4],[12],[16],[35]}

$ 694

Maturity

^{[2],[12],[16],[35]}

Sep. 30, 2027

Percent of Net Assets

^{[2],[12],[16],[35]}

0.60%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[2],[12],[16],[21]}

Aug. 31, 2021

Amortized Cost

^{[2],[12],[16],[21]}

$ 200

Fair Value

^{[2],[4],[12],[16],[21]}

$ 68

Maturity

^{[2],[12],[16],[21],[22]}

Aug. 10, 2030

Percent of Net Assets

^{[2],[12],[16],[21]}

0.10%

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[1],[8],[9],[23]}

Aug. 31, 2021

Amortized Cost

^{[1],[8],[9],[23]}

$ 200

Fair Value

^{[1],[3],[8],[9],[23]}

$ 60

Maturity

^{[1],[8],[9],[23],[25]}

Aug. 10, 2030

Percent of Net Assets

^{[1],[8],[9],[23]}

0.10%

Schedule of Investments [Line Items]

Interest Rate

^{[2],[14],[31],[33]}

9.42%

Spread Above Index

^{[2],[14],[31],[33]}

5.75%

Initial Acquisition Date

^{[2],[14],[33]}

Dec. 20, 2024

Principal Amount

^{[2],[14],[33]}

$ 500

Amortized Cost

^{[2],[14],[33]}

493

Fair Value

^{[2],[4],[14],[33]}

$ 500

Maturity

^{[2],[14],[33]}

Dec. 20, 2029

Percent of Net Assets

^{[2],[14],[33]}

0.40%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[2],[12],[14],[31]}

9.42%

Spread Above Index

^{[2],[12],[14],[31]}

5.75%

Initial Acquisition Date

^{[2],[12],[14]}

Dec. 20, 2024

Principal Amount

^{[2],[12],[14]}

$ 16,795

Amortized Cost

^{[2],[12],[14]}

16,728

Fair Value

^{[2],[4],[12],[14]}

$ 16,828

Maturity

^{[2],[12],[14]}

Dec. 20, 2029

Percent of Net Assets

^{[2],[12],[14]}

13.60%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[2],[11],[12],[31]}

7.44%

Spread Above Index

^{[2],[11],[12],[31]}

3.50%

Initial Acquisition Date

^{[2],[11],[12]}

Mar. 25, 2021

Principal Amount

^{[2],[11],[12]}

$ 1,518

Amortized Cost

^{[2],[11],[12]}

1,513

Fair Value

^{[2],[4],[11],[12]}

$ 1,096

Maturity

^{[2],[11],[12]}

Apr. 03, 2028

Percent of Net Assets

^{[2],[11],[12]}

0.90%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest Rate

^{[2],[11],[12],[31]}

9.60%

Spread Above Index

^{[2],[11],[12],[31]}

5.75%

Initial Acquisition Date

^{[2],[11],[12]}

May 23, 2024

Principal Amount

^{[2],[11],[12]}

$ 2,539

Amortized Cost

^{[2],[11],[12]}

2,468

Fair Value

^{[2],[4],[11],[12]}

$ 2,418

Maturity

^{[2],[11],[12]}

Sep. 04, 2029

Percent of Net Assets

^{[2],[11],[12]}

2.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[2],[14],[21],[27]}

Oct. 11, 2019

Amortized Cost

^{[2],[14],[21],[27]}

$ 670

Fair Value

^{[2],[4],[14],[21],[27]}

$ 695

Percent of Net Assets

^{[2],[14],[21],[27]}

0.60%

Schedule of Investments [Line Items]

Interest Rate

^{[2],[31],[33]}

9.82%

Spread Above Index

^{[2],[31],[33]}

6.00%

Initial Acquisition Date

^[2],[33]

Oct. 14, 2021

Principal Amount

^[2],[33]

$ 566

Amortized Cost

^[2],[33]

563

Fair Value

^[2],[4],[33]

$ 145

Maturity

^[2],[33]

Oct. 14, 2027

Percent of Net Assets

^[2],[33]

0.10%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Interest rate, cash

^{[2],[12],[31]}

9.82%

Interest Rate, PIK

^{[2],[12],[31]}

1.25%

Spread Above Index

^{[2],[12],[31]}

6.00%

Initial Acquisition Date

^[2],[12]

Oct. 14, 2021

Principal Amount

^[2],[12]

$ 14,443

Amortized Cost

^[2],[12]

14,383

Fair Value

^[2],[4],[12]

$ 10,500

Maturity

^[2],[12]

Oct. 14, 2027

Percent of Net Assets

^[2],[12]

8.50%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[2],[21],[27]}

Apr. 16, 2013

Amortized Cost

^{[2],[21],[27]}

$ 9

Fair Value

^{[2],[4],[21],[27]}

$ 0

Percent of Net Assets

^{[2],[21],[27]}

0.00%

Schedule of Investments [Line Items]

Interest rate, cash

^{[2],[12],[31],[35]}

8.33%

Interest Rate, PIK

^{[2],[12],[31],[35]}

1.75%

Spread Above Index

^{[2],[12],[31],[35]}

6.25%

Initial Acquisition Date

^{[2],[12],[35]}

Apr. 16, 2021

Principal Amount

^{[2],[12],[35]}

$ 4,361

Amortized Cost

^{[2],[12],[35]}

4,361

Fair Value

^{[2],[4],[12],[35]}

$ 3,738

Maturity

^{[2],[12],[35]}

Oct. 19, 2030

Percent of Net Assets

^{[2],[12],[35]}

3.00%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities Apex Credit CLO 2020 Ltd. SN IR 9.87% IAD 11/16/2020 Maturity 4/20/2035

Schedule of Investments [Line Items]

Interest Rate

^{[2],[31],[42],[43]}

9.87%

Initial Acquisition Date

^{[2],[42],[43]}

Nov. 16, 2020

Principal Amount

^{[2],[42],[43]}

$ 11,080

Amortized Cost

^{[2],[42],[43]}

9,173

Fair Value

^{[2],[4],[42],[43]}

$ 5,653

Maturity

^{[2],[42],[43]}

Apr. 20, 2035

Percent of Net Assets

^{[2],[42],[43]}

4.60%

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities Apex Credit CLO 2021 Ltd. SN IR 6.51% IAD 5/28/2021 Maturity 7/18/2034

Schedule of Investments [Line Items]

Interest Rate

^{[2],[31],[42],[43]}

6.51%

Initial Acquisition Date

^{[2],[42],[43]}

May 28, 2021

Principal Amount

^{[2],[42],[43]}

$ 8,630

Amortized Cost

^{[2],[42],[43]}

5,585

Fair Value

^{[2],[4],[42],[43]}

$ 3,170

Maturity

^{[2],[42],[43]}

Jul. 18, 2034

Percent of Net Assets

^{[2],[42],[43]}

2.60%

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities Apex Credit CLO 2022-1 Ltd. SN IR 20.68% IAD 4/28/2022 Maturity 10/22/2038

Schedule of Investments [Line Items]

Interest Rate

^{[2],[31],[42],[43]}

20.68%

Initial Acquisition Date

^{[2],[42],[43]}

Apr. 28, 2022

Principal Amount

^{[2],[42],[43]}

$ 17,074

Amortized Cost

^{[2],[42],[43]}

9,807

Fair Value

^{[2],[4],[42],[43]}

$ 7,929

Maturity

^{[2],[42],[43]}

Oct. 22, 2038

Percent of Net Assets

^{[2],[42],[43]}

6.40%

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities Battalion CLO XI Ltd. MD - Class E IR 10.98% SAI SOFR+6.85% IAD 4/25/2022 Maturity 4/24/2034

Schedule of Investments [Line Items]

Interest Rate

^{[2],[31],[42],[43]}

10.98%

Spread Above Index

^{[2],[31],[42],[43]}

6.85%

Initial Acquisition Date

^{[2],[42],[43]}

Apr. 25, 2022

Principal Amount

^{[2],[42],[43]}

$ 6,000

Amortized Cost

^{[2],[42],[43]}

6,000

Fair Value

^{[2],[4],[42],[43]}

$ 5,466

Maturity

^{[2],[42],[43]}

Apr. 24, 2034

Percent of Net Assets

^{[2],[42],[43]}

4.40%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities BlueMountain CLO XXXV Ltd. SN IR 16.45% IAD 10/30/2024 Maturity 10/22/2037

Schedule of Investments [Line Items]

Interest Rate

^{[2],[31],[42],[43]}

16.45%

Initial Acquisition Date

^{[2],[42],[43]}

Oct. 30, 2024

Principal Amount

^{[2],[42],[43]}

$ 7,800

Amortized Cost

^{[2],[42],[43]}

5,954

Fair Value

^{[2],[4],[42],[43]}

$ 4,644

Maturity

^{[2],[42],[43]}

Oct. 22, 2037

Percent of Net Assets

^{[2],[42],[43]}

3.80%

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities Brightwood Capital MM CLO 2023-1, Ltd. SN IR 24.50% IAD 9/28/2023 Maturity 10/15/2035

Schedule of Investments [Line Items]

Interest Rate

^{[2],[31],[42],[43]}

24.50%

Initial Acquisition Date

^{[2],[42],[43]}

Sep. 28, 2023

Principal Amount

^{[2],[42],[43]}

$ 5,494

Amortized Cost

^{[2],[42],[43]}

4,273

Fair Value

^{[2],[4],[42],[43]}

$ 4,493

Maturity

^{[2],[42],[43]}

Oct. 15, 2035

Percent of Net Assets

^{[2],[42],[43]}

3.60%

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities CBAMR 2017-1, Ltd. SN IR 21.02% IAD 8/12/2025 Maturity 1/20/2038

Schedule of Investments [Line Items]

Interest Rate

^{[2],[31],[42],[43]}

21.02%

Initial Acquisition Date

^{[2],[42],[43]}

Aug. 12, 2025

Principal Amount

^{[2],[42],[43]}

$ 5,100

Amortized Cost

^{[2],[42],[43]}

1,880

Fair Value

^{[2],[4],[42],[43]}

$ 1,647

Maturity

^{[2],[42],[43]}

Jan. 20, 2038

Percent of Net Assets

^{[2],[42],[43]}

1.30%

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities Canyon CLO 2019-1, Ltd SN IR 21.30% IAD 8/22/2024 Maturity 7/15/2037

Schedule of Investments [Line Items]

Interest Rate

^{[2],[31],[42],[43]}

21.30%

Initial Acquisition Date

^{[2],[42],[43]}

Aug. 22, 2024

Principal Amount

^{[2],[42],[43]}

$ 18,453

Amortized Cost

^{[2],[42],[43]}

9,581

Fair Value

^{[2],[4],[42],[43]}

$ 8,539

Maturity

^{[2],[42],[43]}

Jul. 15, 2037

Percent of Net Assets

^{[2],[42],[43]}

6.90%

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities ICG US CLO 2021-3, Ltd. SN IR 26.57% IAD 8/8/2024 Maturity 10/20/2034

Schedule of Investments [Line Items]

Interest Rate

^{[2],[31],[42],[43]}

26.57%

Initial Acquisition Date

^{[2],[42],[43]}

Aug. 08, 2024

Principal Amount

^{[2],[42],[43]}

$ 16,750

Amortized Cost

^{[2],[42],[43]}

7,942

Fair Value

^{[2],[4],[42],[43]}

$ 7,289

Maturity

^{[2],[42],[43]}

Oct. 20, 2034

Percent of Net Assets

^{[2],[42],[43]}

5.90%

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities LCM 42 Ltd. SN IR 18.54% IAD 12/19/2024 Maturity 1/15/2038

Schedule of Investments [Line Items]

Interest Rate

^{[2],[31],[42],[43]}

18.54%

Initial Acquisition Date

^{[2],[42],[43]}

Dec. 19, 2024

Principal Amount

^{[2],[42],[43]}

$ 3,500

Amortized Cost

^{[2],[42],[43]}

3,048

Fair Value

^{[2],[4],[42],[43]}

$ 2,727

Maturity

^{[2],[42],[43]}

Jan. 15, 2038

Percent of Net Assets

^{[2],[42],[43]}

2.20%

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities Madison Park Funding XXIX, Ltd. SN IR 17.42% IAD 12/22/2020 Maturity 3/25/2038

Schedule of Investments [Line Items]

Interest Rate

^{[2],[31],[42],[43]}

17.42%

Initial Acquisition Date

^{[2],[42],[43]}

Dec. 22, 2020

Principal Amount

^{[2],[42],[43]}

$ 10,971

Amortized Cost

^{[2],[42],[43]}

5,223

Fair Value

^{[2],[4],[42],[43]}

$ 3,697

Maturity

^{[2],[42],[43]}

Mar. 25, 2038

Percent of Net Assets

^{[2],[42],[43]}

3.00%

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities Trinitas CLO VIII, Ltd. SN IR 0.00% IAD 3/4/2021 Maturity 7/20/2117

Schedule of Investments [Line Items]

Interest Rate

^{[2],[21],[31],[32],[42],[43]}

0.00%

Initial Acquisition Date

^{[2],[21],[32],[42],[43]}

Mar. 04, 2021

Principal Amount

^{[2],[21],[32],[42],[43]}

$ 5,200

Amortized Cost

^{[2],[21],[32],[42],[43]}

2,318

Fair Value

^{[2],[4],[21],[32],[42],[43]}

$ 163

Maturity

^{[2],[21],[32],[42],[43]}

Jul. 20, 2117

Percent of Net Assets

^{[2],[21],[32],[42],[43]}

0.10%

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities Venture 45 CLO, Limited MD - Class E IR 11.58% SAI SOFR+7.70% IAD 4/18/2022 Maturity 7/20/2035

Schedule of Investments [Line Items]

Interest Rate

^[2],[31]

11.58%

Spread Above Index

^[2],[31]

7.70%

Initial Acquisition Date

^[2]

Apr. 18, 2022

Principal Amount

^[2]

$ 3,000

Amortized Cost

^[2]

2,963

Fair Value

^[2],[4]

$ 2,607

Maturity

^[2]

Jul. 20, 2035

Percent of Net Assets

^[2]

2.10%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Inv. Structured Finance Securities Voya CLO 2024-7, Ltd. SN IR 16.31% IAD 1/7/2025 Maturity 1/20/2038

Schedule of Investments [Line Items]

Interest Rate

^{[2],[31],[42],[43]}

16.31%

Initial Acquisition Date

^{[2],[42],[43]}

Jan. 07, 2025

Principal Amount

^{[2],[42],[43]}

$ 4,275

Amortized Cost

^{[2],[42],[43]}

3,886

Fair Value

^{[2],[4],[42],[43]}

$ 3,581

Maturity

^{[2],[42],[43]}

Jan. 20, 2038

Percent of Net Assets

^{[2],[42],[43]}

2.90%

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Structured Finance Securities Apex Credit CLO 2020 Ltd SN IR 4.34 % IAD 11/16/2020 Maturity 4/20/2035

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[8],[44],[45]}

4.34%

Initial Acquisition Date

^{[1],[8],[44],[45]}

Nov. 16, 2020

Principal Amount

^{[1],[8],[44],[45]}

$ 11,080

Amortized Cost

^{[1],[8],[44],[45]}

8,745

Fair Value

^{[1],[3],[8],[44],[45]}

$ 2,438

Maturity

^{[1],[8],[44],[45]}

Apr. 20, 2035

Percent of Net Assets

^{[1],[8],[44],[45]}

2.50%

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Structured Finance Securities Apex Credit CLO 2021 Ltd SN IR 0.00% IAD 5/28/2021 Maturity 7/18/2034

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[8],[44],[45]}

0.00%

Initial Acquisition Date

^{[1],[8],[44],[45]}

May 28, 2021

Principal Amount

^{[1],[8],[44],[45]}

$ 8,630

Amortized Cost

^{[1],[8],[44],[45]}

4,587

Fair Value

^{[1],[3],[8],[44],[45]}

$ 1,004

Maturity

^{[1],[8],[44],[45]}

Jul. 18, 2034

Percent of Net Assets

^{[1],[8],[44],[45]}

1.00%

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Structured Finance Securities BlueMountain CLO XXXV Ltd. SN IR 14.01 % IAD 10/30/2024 Maturity 10/22/2037

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[8],[44],[45]}

14.01%

Initial Acquisition Date

^{[1],[8],[44],[45]}

Oct. 30, 2024

Principal Amount

^{[1],[8],[44],[45]}

$ 7,800

Amortized Cost

^{[1],[8],[44],[45]}

6,078

Fair Value

^{[1],[3],[8],[44],[45]}

$ 3,750

Maturity

^{[1],[8],[44],[45]}

Oct. 22, 2037

Percent of Net Assets

^{[1],[8],[44],[45]}

3.70%

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Structured Finance Securities Brightwood Capital MM CLO 2023-1, Ltd. SN IR 26.30 % IAD 9/28/2023 Maturity 10/15/2035

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[8],[44],[45]}

26.30%

Initial Acquisition Date

^{[1],[8],[44],[45]}

Sep. 28, 2023

Principal Amount

^{[1],[8],[44],[45]}

$ 5,494

Amortized Cost

^{[1],[8],[44],[45]}

4,292

Fair Value

^{[1],[3],[8],[44],[45]}

$ 4,300

Maturity

^{[1],[8],[44],[45]}

Oct. 15, 2035

Percent of Net Assets

^{[1],[8],[44],[45]}

4.40%

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Structured Finance Securities Canyon CLO 2019-1, Ltd. SN IR 15.64% IAD 8/22/2024 Maturity 7/15/2037

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[8],[44],[45]}

15.64%

Initial Acquisition Date

^{[1],[8],[44],[45]}

Aug. 22, 2024

Principal Amount

^{[1],[8],[44],[45]}

$ 18,453

Amortized Cost

^{[1],[8],[44],[45]}

9,782

Fair Value

^{[1],[3],[8],[44],[45]}

$ 6,902

Maturity

^{[1],[8],[44],[45]}

Jul. 15, 2037

Percent of Net Assets

^{[1],[8],[44],[45]}

7.00%

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Structured Finance Securities ICG US CLO 2021-3, Ltd. SN IR 14.76% IAD 8/8/2024 Maturity 10/20/2034

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[8],[44],[45]}

14.76%

Initial Acquisition Date

^{[1],[8],[44],[45]}

Aug. 08, 2024

Principal Amount

^{[1],[8],[44],[45]}

$ 16,750

Amortized Cost

^{[1],[8],[44],[45]}

7,417

Fair Value

^{[1],[3],[8],[44],[45]}

$ 4,935

Maturity

^{[1],[8],[44],[45]}

Oct. 20, 2034

Percent of Net Assets

^{[1],[8],[44],[45]}

5.00%

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Structured Finance Securities LCM 42 Ltd SN IR 15.94% IAD 12/19/2024 Maturity 1/15/2038

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[8],[44],[45]}

15.94%

Initial Acquisition Date

^{[1],[8],[44],[45]}

Dec. 19, 2024

Principal Amount

^{[1],[8],[44],[45]}

$ 3,500

Amortized Cost

^{[1],[8],[44],[45]}

2,963

Fair Value

^{[1],[3],[8],[44],[45]}

$ 2,125

Maturity

^{[1],[8],[44],[45]}

Jan. 15, 2038

Percent of Net Assets

^{[1],[8],[44],[45]}

2.20%

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Structured Finance Securities Trinitas CLO VIII, Ltd. SN IR 0.00 % IAD 3/4/2021 Maturity 7/20/2117

Schedule of Investments [Line Items]

Interest Rate

^{[1],[7],[8],[23],[44],[45],[46]}

0.00%

Initial Acquisition Date

^{[1],[8],[23],[44],[45],[46]}

Mar. 04, 2021

Principal Amount

^{[1],[8],[23],[44],[45],[46]}

$ 5,200

Amortized Cost

^{[1],[8],[23],[44],[45],[46]}

2,307

Fair Value

^{[1],[3],[8],[23],[44],[45],[46]}

$ 0

Maturity

^{[1],[8],[23],[44],[45],[46]}

Jul. 20, 2117

Percent of Net Assets

^{[1],[8],[23],[44],[45],[46]}

0.00%

Investment, Identifier [Axis]: Portfolio Company Investment Type NCNA Structured Finance Securities Venture 45 CLO, Limited MD - Class E IR 11.43 % SAI SOFR+7.70 % IAD 4/18/2022 Maturity 7/20/2035

Schedule of Investments [Line Items]

Interest Rate

^[1],[7],[8]

11.43%

Spread Above Index

^[1],[7],[8]

7.70%

Initial Acquisition Date

^[1],[8]

Apr. 18, 2022

Principal Amount

^[1],[8]

$ 3,000

Amortized Cost

^[1],[8]

2,971

Fair Value

^[1],[3],[8]

$ 1,676

Maturity

^[1],[8]

Jul. 20, 2035

Percent of Net Assets

^[1],[8]

1.70%

Investment, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Schedule of Investments [Line Items]

Initial Acquisition Date

^[2]

Sep. 30, 2017

Amortized Cost

^[2]

$ 231

Fair Value

^[2],[4]

$ 1,181

Percent of Net Assets

^[2]

1.00%

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[2],[21],[27]}

Jan. 17, 2018

Amortized Cost

^{[2],[21],[27]}

$ 0

Fair Value

^{[2],[4],[21],[27]}

$ 1,462

Percent of Net Assets

^{[2],[21],[27]}

1.20%

Schedule of Investments [Line Items]

Initial Acquisition Date

^{[2],[21],[27]}

Sep. 04, 2020

Amortized Cost

^{[2],[21],[27]}

$ 160

Fair Value

^{[2],[4],[21],[27]}

$ 1

Percent of Net Assets

^{[2],[21],[27]}

0.00%

Investment, Identifier [Axis]: SSJA Bariatric Management LLC, Common Equity 1

Schedule of Investments [Line Items]

Fair Value

^{[17],[18],[19]}

$ 0

$ 1,729

Investment, Identifier [Axis]: SSJA Bariatric Management LLC, First Lien Debt 1

Schedule of Investments [Line Items]

Fair Value

^[17],[19]

233

235

Investment, Identifier [Axis]: SSJA Bariatric Management LLC, First Lien Debt 2

Schedule of Investments [Line Items]

Fair Value

^[17],[19]

$ 1,654

$ 3,804

[1]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[2]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[3]	Unless otherwise noted in footnote 14, fair value was determined using significant unobservable inputs for all of the Company’s investments and are considered Level 3 under GAAP. See Note 5 for further details.
[4]	Unless otherwise noted in footnote 14, fair value was determined using significant unobservable inputs for all of the Company’s investments and are considered Level 3 under GAAP. See Note 5 for further details.
[5]	Represents cash equivalents held in a money market fund as of September 30, 2026. The Company also had cash deposits of $1,865 as of September 30, 2026.
[6]	Represents cash equivalents held in a money market fund as of December 31, 2025. The Company also had cash deposits of $3,050 as of December 31, 2025.
[7]	As of September 30, 2026, the Company held loans and mezzanine debt investments with an aggregate fair value of $103,271 that bore interest at a variable rate indexed to SOFR or Prime, and reset monthly, quarterly, or semi-annually. For each variable-rate investment, the Company has provided the spread over the reference rate and current interest rate in effect as of September 30, 2026. Unless otherwise noted, all investments with a stated PIK rate require interest payments with the issuance of additional securities as payment of the entire PIK provision.
[8]	Non-qualifying assets under Section 55(a) of the 1940 Act. Qualifying assets as defined in Section 55 of the 1940 Act must represent at least 70% of the Company’s assets immediately following the acquisition of any additional non-qualifying assets. As of September 30, 2026, approximately 89% of the Company's assets were qualifying assets.
[9]	Investments (or a portion thereof) held by OFSCC-FS. These assets are pledged as collateral of the Natixis Facility and cannot be pledged under any debt obligation of the Parent.
[10]	The Company holds at least one seat on the portfolio company’s board of directors.
[11]	Fair value was determined by reference to observable inputs other than quoted prices in active markets and are considered Level 2 under GAAP. See Note 5 for further details.
[12]	Investments (or a portion thereof) held by OFSCC-FS. These assets are pledged as collateral of the BNP Facility and cannot be pledged under any other debt obligation of the Company.
[13]	Portfolio company represents greater than 5% of total assets as of September 30, 2026.
[14]	The Company has an observer seat on the portfolio company’s board of directors.
[15]	Investment was on non-accrual status as of September 30, 2026. See Note 4 for further details.
[16]	Non-qualifying assets under Section 55(a) of the 1940 Act. Qualifying assets as defined in Section 55 of the 1940 Act must represent at least 70% of the Company's assets immediately following the acquisition of any additional non-qualifying assets. As of December 31, 2025, approximately 81% of the Company's assets were qualifying assets.
[17]	Fair value was determined using significant unobservable inputs. See Note 5 for further details.
[18]	Non-income producing. The Company has not recognized income on the security during the prior twelve-month period preceding the period-end date.
[19]	Principal balance, interest rate and maturity of debt investments, and ownership detail for equity investments are presented in the consolidated schedule of investments. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[20]	Dividends recognized as income include PIK dividends contractually earned but not declared.
[21]	Non-income producing.
[22]	Represents expiration date of the warrants.
[23]	Non-income producing. The Company has not recognized income on the security during the prior twelve-month period preceding the period-end date.
[24]	The Company holds at least one seat on the portfolio company’s board of directors.
[25]	Represents expiration date of the warrants.
[26]	All or a portion of investment held by a wholly owned subsidiary subject to income tax.
[27]	All or a portion of investment held by a wholly owned subsidiary subject to income tax.
[28]	The Company has an observer seat on the portfolio company’s board of directors.
[29]	Portfolio company at fair value represents greater than 5% of total assets at December 31, 2025.
[30]	Subject to unfunded commitments. The Company considers undrawn amounts in the determination of fair value on revolving lines of credit and delayed draw term loans. See Note 6.
[31]	As of December 31, 2025, the Company held loans and mezzanine debt investments with an aggregate fair value of $168,018 that bore interest at a variable rate indexed to SOFR or Prime, and reset monthly, quarterly, or semi-annually. For each variable-rate investment, the Company has provided the spread over the reference rate and current interest rate in effect as of December 31, 2025. Unless otherwise noted, all investments with a stated PIK rate require interest payments with the issuance of additional securities as payment of the entire PIK provision.
[32]	As of December 31, 2025, the effective accretable yield was estimated to be 0%, as the aggregate amount of projected distributions, including projected distributions related to liquidation of the underlying portfolio upon the security's anticipated optional redemption, was less than current amortized cost. Projected distributions are periodically monitored and re-evaluated. All actual distributions were recognized as reductions to amortized cost until such time, if and when occurring, a future aggregate amount of then-projected distributions exceeds the security's then-current amortized cost.
[33]	Subject to unfunded commitments. The Company considers undrawn amounts in the determination of fair value on revolving lines of credit and delayed draw term loans. See Note 6.
[34]	The Company has the right to receive certain information provided to the board of directors.
[35]	The interest rate on these investments contains a PIK provision, whereby the issuer has the option to make interest payments in cash or with the issuance of additional securities as payment of the entire PIK provision. The interest rate in the schedule represents the current interest rate in effect for these investments. The following table provides additional details on these PIK investments, including the maximum annual PIK interest rate allowed as of December 31, 2025:
[36]	Investment was on non-accrual status as of December 31, 2025, meaning the Company suspended recognition of all or a portion of income on the investment. See Note 4 for further details.
[37]	Equity participation rights issued by unaffiliated third party fully covered with underlying positions in the portfolio company.
[38]	Fair value was determined by reference to observable inputs other than quoted prices in active markets and are considered Level 2 under GAAP. See Note 5 for further details.
[39]	The interest rate on these investments contains a PIK provision, whereby the issuer has the option to make interest payments in cash or with the issuance of additional securities as payment of the entire PIK provision. The interest rate in the schedule represents the current interest rate in effect for these investments. The following table provides additional details on these PIK investments, including the maximum annual PIK interest rate allowed as of September 30, 2026:
[40]	This investment matured on October 1, 2026 and was not repaid at maturity. The lending group and the portfolio company are working to amend the existing terms.
[41]	These investments became contractually due on December 22, 2025. The lending group has entered into a forbearance agreement extending the maturity date of the investments to August 31, 2026.
[42]	Amortized cost reflects accretion of effective yield less any cash distributions received or entitled to be received from CLO subordinated note investments. CLO subordinated note positions are entitled to recurring distributions, which are generally equal to the residual cash flow of payments received on underlying securities less contractual payments to debt holders and fund expenses.
[43]	The rate disclosed on subordinated note investments is the estimated effective yield, generally established at purchase, and reevaluated upon the receipt of the initial distribution and each subsequent quarter thereafter. The estimated effective yield is based upon projected amounts and timing of future distributions and the projected amounts and timing of terminal principal payments at the time of estimation. The estimated effective yield and investment cost may ultimately not be realized. Projected cash flows, including the amounts and timing of terminal principal payments, which generally are projected to occur prior to the contractual maturity date, were utilized in deriving the effective yield of the investments.
[44]	Amortized cost reflects accretion of effective yield less any cash distributions received or entitled to be received from CLO subordinated note investments. CLO subordinated note positions are entitled to recurring distributions, which are generally equal to the residual cash flow of payments received on underlying securities less contractual payments to debt holders and fund expenses.
[45]	The rate disclosed on subordinated note investments is the estimated effective yield, generally established at purchase, and reevaluated upon the receipt of the initial distribution and each subsequent quarter thereafter. The estimated effective yield is based upon projected amounts and timing of future distributions and the projected amounts and timing of terminal principal payments at the time of estimation. The estimated effective yield and investment cost may ultimately not be realized. Projected cash flows, including the amounts and timing of terminal principal payments, which generally are projected to occur prior to the contractual maturity date, were utilized in deriving the effective yield of the investments.
[46]	As of September 30, 2026, the effective accretable yield was estimated to be 0%, as the aggregate amount of projected distributions, including projected distributions related to liquidation of the underlying portfolio upon the security’s anticipated optional redemption, was less than current amortized cost. Projected distributions are periodically monitored and re-evaluated. All actual distributions were recognized as reductions to amortized cost until such time, if and when occurring, a future aggregate amount of then-projected distributions exceeds the security’s then-current amortized cost.

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Sep. 30, 2026	Dec. 31, 2025
Other Commitments [Line Items]
Commitment	$ 3,973	$ 13,226
Investment, Identifier [Axis]: 12 Interactive, LLC (D/B/A PerkSpot), First Lien Debt (Revolver)
Other Commitments [Line Items]
Commitment		660
Investment, Identifier [Axis]: Associated Spring, LLC, First Lien Debt (Delayed Draw)
Other Commitments [Line Items]
Commitment		1,483
Investment, Identifier [Axis]: Avison Young Inc. , First Lien Debt (Delayed Draw)
Other Commitments [Line Items]
Commitment		34
Investment, Identifier [Axis]: Boca Home Care Holdings, Inc., First Lien Debt
Other Commitments [Line Items]
Commitment	1,065
Investment, Identifier [Axis]: Boca Home Care Holdings, Inc., First Lien Debt (Revolver)
Other Commitments [Line Items]
Commitment	1,065	1,065
Investment, Identifier [Axis]: Clevertech Bidco, LLC, First Lien Debt (Revolver)
Other Commitments [Line Items]
Commitment	76	182
Investment, Identifier [Axis]: ESP Associates, Inc. First Lien Debt (Delayed Draw)
Other Commitments [Line Items]
Commitment	9
Investment, Identifier [Axis]: ESP Associates, Inc. First Lien Debt (Revolver)
Other Commitments [Line Items]
Commitment	33
Investment, Identifier [Axis]: Envocore Holding, LLC (F/K/A LRI Holding, LLC), First Lien Debt (Revolver)
Other Commitments [Line Items]
Commitment		2,569
Investment, Identifier [Axis]: Honor HN Buyer Inc., First Lien Debt (Delayed Draw)
Other Commitments [Line Items]
Commitment		3,062
Investment, Identifier [Axis]: Honor HN Buyer Inc., First Lien Debt (Revolver)
Other Commitments [Line Items]
Commitment	119	328
Investment, Identifier [Axis]: I Love Produce, LLC First Lien Debt (Delayed Draw)
Other Commitments [Line Items]
Commitment	152
Investment, Identifier [Axis]: I Love Produce, LLC First Lien Debt (Revolver)
Other Commitments [Line Items]
Commitment	20
Investment, Identifier [Axis]: Integrated Energy Services, LLC, First Lien Debt (Delayed Draw)
Other Commitments [Line Items]
Commitment	300	300
Investment, Identifier [Axis]: Integrated Energy Services, LLC, First Lien Debt (Revolver)
Other Commitments [Line Items]
Commitment	105	150
Investment, Identifier [Axis]: MP Design, LLC First Lien Debt (Revolver)
Other Commitments [Line Items]
Commitment	250
Investment, Identifier [Axis]: Medrina LLC, First Lien Debt (Revolver)
Other Commitments [Line Items]
Commitment	319	319
Investment, Identifier [Axis]: PSB Group, LLC, First Lien Debt (Revolver)
Other Commitments [Line Items]
Commitment	1,059	653
Investment, Identifier [Axis]: SS Acquisition, LLC, First Lien Debt (Revolver)
Other Commitments [Line Items]
Commitment		1,286
Investment, Identifier [Axis]: SSJA Bariatric Management LLC, First Lien Debt (Delayed Draw)
Other Commitments [Line Items]
Commitment	157	157
Investment, Identifier [Axis]: Tolemar Acquisition, Inc., First Lien Debt (Revolver)
Other Commitments [Line Items]
Commitment	$ 309	$ 978

Related Party Transactions - Expenses and Distributions (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2026

Sep. 30, 2025

Sep. 30, 2026

Sep. 30, 2025

Base management fee

^[1]

$ 1,221

$ 1,410

$ 3,996

$ 4,438

Base management fee waiver

(173)

(596)

Income Incentive Fee

607

408

1,758

Administration fees

338

387

1,031

1,163

Distributions declared to affiliates

$ 515

$ 1,029

$ 1,545

$ 3,087

[1]

Investments - By Industry (Details) - USD ($)
$ in Thousands

Sep. 30, 2026

Dec. 31, 2025

Schedule of Investments [Line Items]

Amortized Cost

$ 234,170

^[1]

$ 328,400

^[2]

Percentage of Total, Amortized Cost

100.00%

Percentage of Total, Net Assets

236.90%

266.50%

Fair Value

$ 252,147

^[1],[3]

$ 342,015

^[2],[4]

Percentage of Total, Fair Value

100.00%

Percent of Net Assets

255.10%

^[1]

277.60%

^[2]

Total debt and equity investments

Schedule of Investments [Line Items]

Amortized Cost

$ 185,028

$ 250,767

Percentage of Total, Amortized Cost

79.00%

76.40%

Percentage of Total, Net Assets

187.20%

203.50%

Fair Value

$ 225,017

$ 280,410

Percentage of Total, Fair Value

89.20%

82.00%

Percent of Net Assets

227.60%

227.80%

Structured Finance Securities

Schedule of Investments [Line Items]

Amortized Cost

$ 49,142

^[1],[5]

$ 77,633

Percentage of Total, Amortized Cost

21.00%

23.60%

Percentage of Total, Net Assets

49.70%

63.00%

Fair Value

$ 27,130

^[1],[3],[5]

$ 61,605

Percentage of Total, Fair Value

10.80%

18.00%

Percent of Net Assets

27.50%

^[1],[5]

49.80%

Administrative and Support and Waste Management and Remediation Services | Total debt and equity investments

Schedule of Investments [Line Items]

Amortized Cost

$ 11,170

$ 11,234

Percentage of Total, Amortized Cost

4.80%

3.40%

Percentage of Total, Net Assets

11.30%

9.10%

Fair Value

$ 10,925

$ 11,006

Percentage of Total, Fair Value

4.30%

3.20%

Percent of Net Assets

11.10%

8.90%

Construction | Total debt and equity investments

Schedule of Investments [Line Items]

Amortized Cost

$ 1,954

$ 18,986

Percentage of Total, Amortized Cost

0.80%

5.80%

Percentage of Total, Net Assets

2.00%

15.40%

Fair Value

$ 848

$ 9,644

Percentage of Total, Fair Value

0.30%

2.80%

Percent of Net Assets

0.90%

7.80%

Education Services | Total debt and equity investments

Schedule of Investments [Line Items]

Amortized Cost

$ 670

$ 17,891

Percentage of Total, Amortized Cost

0.30%

5.40%

Percentage of Total, Net Assets

0.70%

14.50%

Fair Value

$ 620

$ 18,023

Percentage of Total, Fair Value

0.20%

5.30%

Percent of Net Assets

0.60%

14.60%

Finance and Insurance | Total debt and equity investments

Schedule of Investments [Line Items]

Amortized Cost

$ 3,295

$ 3,193

Percentage of Total, Amortized Cost

1.40%

1.00%

Percentage of Total, Net Assets

3.30%

2.60%

Fair Value

$ 3,072

$ 3,068

Percentage of Total, Fair Value

1.20%

0.90%

Percent of Net Assets

3.10%

2.50%

Health Care and Social Assistance | Total debt and equity investments

Schedule of Investments [Line Items]

Amortized Cost

$ 45,588

$ 68,571

Percentage of Total, Amortized Cost

19.50%

20.90%

Percentage of Total, Net Assets

46.10%

55.70%

Fair Value

$ 18,509

$ 48,653

Percentage of Total, Fair Value

7.40%

14.30%

Percent of Net Assets

18.60%

39.60%

Information | Total debt and equity investments

Schedule of Investments [Line Items]

Amortized Cost

$ 18,871

$ 23,651

Percentage of Total, Amortized Cost

8.00%

7.20%

Percentage of Total, Net Assets

19.10%

19.20%

Fair Value

$ 16,593

$ 18,136

Percentage of Total, Fair Value

6.70%

5.30%

Percent of Net Assets

16.70%

14.70%

Management of Companies and Enterprises | Total debt and equity investments

Schedule of Investments [Line Items]

Amortized Cost

$ 12,551

$ 12,562

Percentage of Total, Amortized Cost

5.40%

3.80%

Percentage of Total, Net Assets

12.70%

10.20%

Fair Value

$ 10,682

$ 11,419

Percentage of Total, Fair Value

4.20%

3.30%

Percent of Net Assets

10.80%

9.30%

Manufacturing | Total debt and equity investments

Schedule of Investments [Line Items]

Amortized Cost

$ 18,472

$ 22,336

Percentage of Total, Amortized Cost

7.90%

6.80%

Percentage of Total, Net Assets

18.70%

18.10%

Fair Value

$ 98,378

$ 97,061

Percentage of Total, Fair Value

39.00%

28.40%

Percent of Net Assets

99.50%

78.80%

Other Services (except Public Administration) | Total debt and equity investments

Schedule of Investments [Line Items]

Amortized Cost

$ 1,952

$ 1,493

Percentage of Total, Amortized Cost

0.80%

0.50%

Percentage of Total, Net Assets

2.00%

1.20%

Fair Value

$ 1,941

$ 1,498

Percentage of Total, Fair Value

0.80%

0.40%

Percent of Net Assets

2.00%

1.20%

Professional, Scientific, and Technical Services | Total debt and equity investments

Schedule of Investments [Line Items]

Amortized Cost

$ 22,780

$ 19,384

Percentage of Total, Amortized Cost

9.70%

5.90%

Percentage of Total, Net Assets

23.00%

15.70%

Fair Value

$ 22,703

$ 19,451

Percentage of Total, Fair Value

9.00%

5.70%

Percent of Net Assets

23.00%

15.80%

Public Administration | Total debt and equity investments

Schedule of Investments [Line Items]

Amortized Cost

$ 703

Percentage of Total, Amortized Cost

0.30%

0.20%

Percentage of Total, Net Assets

0.70%

0.60%

Fair Value

$ 26

$ 33

Percentage of Total, Fair Value

0.00%

Percent of Net Assets

0.00%

Real Estate and Rental and Leasing | Total debt and equity investments

Schedule of Investments [Line Items]

Amortized Cost

$ 26,659

$ 25,720

Percentage of Total, Amortized Cost

11.40%

7.80%

Percentage of Total, Net Assets

27.00%

20.90%

Fair Value

$ 26,046

$ 22,507

Percentage of Total, Fair Value

10.30%

6.60%

Percent of Net Assets

26.40%

18.40%

Retail Trade | Total debt and equity investments

Schedule of Investments [Line Items]

Amortized Cost

$ 10,785

$ 13,355

Percentage of Total, Amortized Cost

4.60%

4.10%

Percentage of Total, Net Assets

10.90%

10.80%

Fair Value

$ 9,386

$ 11,895

Percentage of Total, Fair Value

3.70%

3.50%

Percent of Net Assets

9.50%

9.70%

Wholesale Trade | Total debt and equity investments

Schedule of Investments [Line Items]

Amortized Cost

$ 9,578

$ 11,688

Percentage of Total, Amortized Cost

4.10%

3.60%

Percentage of Total, Net Assets

9.70%

9.50%

Fair Value

$ 5,288

$ 8,016

Percentage of Total, Fair Value

2.10%

2.30%

Percent of Net Assets

5.40%

6.50%

[1]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[2]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[3]	Unless otherwise noted in footnote 14, fair value was determined using significant unobservable inputs for all of the Company’s investments and are considered Level 3 under GAAP. See Note 5 for further details.
[4]	Unless otherwise noted in footnote 14, fair value was determined using significant unobservable inputs for all of the Company’s investments and are considered Level 3 under GAAP. See Note 5 for further details.
[5]	Non-qualifying assets under Section 55(a) of the 1940 Act. Qualifying assets as defined in Section 55 of the 1940 Act must represent at least 70% of the Company’s assets immediately following the acquisition of any additional non-qualifying assets. As of September 30, 2026, approximately 89% of the Company's assets were qualifying assets.

Investments - By Composition and Domicile (Details) - USD ($)
$ in Thousands

Sep. 30, 2026

Dec. 31, 2025

Schedule of Investments [Line Items]

Amortized Cost

$ 234,170

^[1]

$ 328,400

^[2]

Percentage of Total, Amortized Cost

100.00%

Percentage of Total, Net Assets

236.90%

266.50%

Fair Value

$ 252,147

^[1],[3]

$ 342,015

^[2],[4]

Percentage of Total, Fair Value

100.00%

Percent of Net Assets

255.10%

^[1]

277.60%

^[2]

United States of America

Schedule of Investments [Line Items]

Amortized Cost

$ 180,041

$ 245,902

Fair Value

223,731

278,274

Canada

Schedule of Investments [Line Items]

Amortized Cost

^[5]

4,987

4,865

Fair Value

^[5]

1,286

2,136

Cayman Islands

Schedule of Investments [Line Items]

Amortized Cost

^[5],[6]

44,850

73,360

Fair Value

^[5],[6]

22,830

57,112

Jersey

Schedule of Investments [Line Items]

Amortized Cost

^[5],[6]

4,292

4,273

Fair Value

^[5],[6]

4,300

4,493

Total debt and equity investments

Schedule of Investments [Line Items]

Amortized Cost

$ 185,028

$ 250,767

Percentage of Total, Amortized Cost

79.00%

76.40%

Percentage of Total, Net Assets

187.20%

203.50%

Fair Value

$ 225,017

$ 280,410

Percentage of Total, Fair Value

89.20%

82.00%

Percent of Net Assets

227.60%

227.80%

First lien debt investments

Schedule of Investments [Line Items]

Amortized Cost

$ 132,536

^[7]

$ 188,236

^[8]

Percentage of Total, Amortized Cost

56.60%

^[7]

57.30%

^[8]

Percentage of Total, Net Assets

134.00%

^[7]

152.80%

^[8]

Fair Value

$ 108,291

^[7]

$ 170,405

^[8]

Percentage of Total, Fair Value

42.90%

^[7]

49.80%

Percent of Net Assets

109.50%

^[7]

138.40%

^[8]

Second lien debt investments

Schedule of Investments [Line Items]

Amortized Cost

$ 9,448

$ 24,924

Percentage of Total, Amortized Cost

4.00%

7.60%

Percentage of Total, Net Assets

9.60%

20.20%

Fair Value

$ 2,854

$ 9,409

Percentage of Total, Fair Value

1.10%

2.80%

Percent of Net Assets

2.90%

7.60%

Preferred Stock [Member]

Schedule of Investments [Line Items]

Amortized Cost

$ 16,305

$ 14,287

Percentage of Total, Amortized Cost

7.00%

4.40%

Percentage of Total, Net Assets

16.50%

11.60%

Fair Value

$ 17,134

$ 12,567

Percentage of Total, Fair Value

6.80%

3.70%

Percent of Net Assets

17.30%

10.20%

Common equity, warrants and other

Schedule of Investments [Line Items]

Amortized Cost

$ 26,739

^[9]

$ 23,320

^[10]

Percentage of Total, Amortized Cost

11.40%

^[9]

7.10%

^[10]

Percentage of Total, Net Assets

27.10%

^[9]

18.90%

^[10]

Fair Value

$ 96,738

^[9]

$ 88,029

^[10]

Percentage of Total, Fair Value

38.40%

^[9]

25.70%

Percent of Net Assets

97.90%

^[9]

71.60%

^[10]

Structured Finance Securities

Schedule of Investments [Line Items]

Amortized Cost

$ 49,142

^[1],[11]

$ 77,633

Percentage of Total, Amortized Cost

21.00%

23.60%

Percentage of Total, Net Assets

49.70%

63.00%

Fair Value

$ 27,130

^[1],[3],[11]

$ 61,605

Percentage of Total, Fair Value

10.80%

18.00%

Percent of Net Assets

27.50%

^[1],[11]

49.80%

[1]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[2]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[3]	Unless otherwise noted in footnote 14, fair value was determined using significant unobservable inputs for all of the Company’s investments and are considered Level 3 under GAAP. See Note 5 for further details.
[4]	Unless otherwise noted in footnote 14, fair value was determined using significant unobservable inputs for all of the Company’s investments and are considered Level 3 under GAAP. See Note 5 for further details.
[5]	Represents non-qualifying assets under Section 55(a) of the 1940 Act.
[6]	Investments domiciled in the Cayman Islands and Jersey represent certain Structured Finance Securities held by the Company. These investments generally represent beneficial interests in underlying portfolios of debt investments in companies domiciled in the United States.
[7]	Includes unitranche investments (which are loans that combine both senior and subordinated debt, in a first lien position) with an amortized cost and fair value of $86,623 and $69,962, respectively. Unitranche loans generally provide leverage levels comparable to a combination of first lien and second lien or subordinated loans. Investments in “last out” pieces of unitranche loans will be similar to second lien loans in that such investments will be junior in priority to the “first out” piece of the same unitranche loan with respect to payment of principal and interest. Includes secondary priority debt investments governed under a first lien credit agreement.
[8]	Includes unitranche investments (which are loans that combine both senior and subordinated debt, in a first lien position) with an amortized cost and fair value of $130,270 and $116,279, respectively. Unitranche loans generally provide leverage levels comparable to a combination of first lien and second lien or subordinated loans. Investments in “last out” pieces of unitranche loans will be similar to second lien loans in that such investments will be junior in priority to the “first out” piece of the same unitranche loan with respect to payment of principal and interest. Includes secondary priority debt investments governed under a first lien credit agreement.
[9]	Includes the Company’s investment in Pfanstiehl Holdings, Inc. See “Note 4—Portfolio Concentration” and “Note 11—Subsequent Events—Partial Monetization of Equity Interest” for additional information.
[10]	Includes the Company’s investment in Pfanstiehl Holdings, Inc. See “Note 4—Portfolio Concentration” and “Note 11—Subsequent Events—Partial Monetization of Equity Interest” for additional information.
[11]	Non-qualifying assets under Section 55(a) of the 1940 Act. Qualifying assets as defined in Section 55 of the 1940 Act must represent at least 70% of the Company’s assets immediately following the acquisition of any additional non-qualifying assets. As of September 30, 2026, approximately 89% of the Company's assets were qualifying assets.

Commitments and Contingencies

9 Months Ended

Sep. 30, 2026

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 6. Commitments and Contingencies

The following table shows the Company’s outstanding commitments to fund investments to portfolio companies as of September 30, 2026:


Portfolio Company	Investment Type	Commitment
Boca Home Care Holdings, Inc.	First Lien Debt (Revolver)	$	1,065
Clevertech Bidco, LLC	First Lien Debt (Revolver)		76
ESP Associates, Inc.	First Lien Debt (Revolver)		33
ESP Associates, Inc.	First Lien Debt (Delayed Draw)		9
Honor HN Buyer Inc.	First Lien Debt (Revolver)		119
I Love Produce, LLC	First Lien Debt (Revolver)		20
I Love Produce, LLC	First Lien Debt (Delayed Draw)		152
Integrated Energy Services, LLC	First Lien Debt (Delayed Draw)		300
Integrated Energy Services, LLC	First Lien Debt (Revolver)		105
Medrina LLC	First Lien Debt (Revolver)		319
MP Design, LLC	First Lien Debt (Revolver)		250
PSB Group, LLC	First Lien Debt (Revolver)		1,059
SSJA Bariatric Management LLC	First Lien Debt (Delayed Draw)		157
Tolemar Acquisition, Inc.	First Lien Debt (Revolver)		309
Total		$	3,973

In accordance with ASC 820, the Company considers undrawn amounts in the determination of fair value on its revolving lines of credit and delayed draw term loans. As of September 30, 2026, the Company had cash and cash equivalents of $3,132 and unused commitments of $15,000 under its Banc of California Credit Facility and $54,600 under its Natixis Facility, each of which is subject to the terms of the borrowing base and other covenants, to fund these outstanding commitments to portfolio companies.

The following table shows the Company’s outstanding commitments to fund investments to portfolio companies as of December 31, 2025:


Portfolio Company	Investment Type	Commitment
12 Interactive, LLC (D/B/A PerkSpot)	First Lien Debt (Revolver)	$	660
Associated Spring, LLC	First Lien Debt (Delayed Draw)		1,483
Avison Young Inc.	First Lien Debt (Delayed Draw)		34
Boca Home Care Holdings, Inc.	First Lien Debt (Revolver)		1,065
Clevertech Bidco, LLC	First Lien Debt (Revolver)		182
Envocore Holding, LLC (F/K/A LRI Holding, LLC)	First Lien Debt (Revolver)		2,569
Honor HN Buyer Inc.	First Lien Debt (Revolver)		328
Honor HN Buyer Inc.	First Lien Debt (Delayed Draw)		3,062
Integrated Energy Services, LLC	First Lien Debt (Delayed Draw)		300
Integrated Energy Services, LLC	First Lien Debt (Revolver)		150
Medrina LLC	First Lien Debt (Revolver)		319
PSB Group, LLC	First Lien Debt (Revolver)		653
SS Acquisition, LLC	First Lien Debt (Revolver)		1,286
SSJA Bariatric Management LLC	First Lien Debt (Delayed Draw)		157
Tolemar Acquisition, Inc.	First Lien Debt (Revolver)		978
Total		$	13,226

Legal and regulatory proceedings: From time to time, the Company is involved in legal proceedings in the normal course of its business. See Note 11—Subsequent Events—Litigation for additional information concerning litigation commenced after September 30, 2026. Except as described therein, management is of the opinion, based on the advice of legal counsel, that the final disposition of any litigation should not have a material adverse effect on the financial position of the Company as of September 30, 2026.

Additionally, the Company is subject to periodic inspection by regulators to assess compliance with applicable BDC regulations.

Indemnifications: In the normal course of business, the Company enters into contracts and agreements that contain a variety of representations and warranties that provide for general indemnification. The Company’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Company that have not yet occurred. The Company believes the risk of any material obligation under these indemnifications to be low.

Capital Transactions

9 Months Ended

Sep. 30, 2026

Equity [Abstract]

Capital Transactions

Note 9. Capital Transactions

Distributions: The Company intends to make quarterly distributions to stockholders, that represent over time, substantially all of its net investment income. In addition, although the Company may distribute at least annually net realized capital gains, net of taxes if any, out of assets legally available for such distribution, the Company may also retain such capital gains for investment through a deemed distribution. If the Company makes a deemed distribution, stockholders will be treated for U.S. federal income tax purposes as if they had received an actual distribution of the capital gains, net of taxes.

The Company may be limited in its ability to make distributions due to the BDC asset coverage requirements of the 1940 Act. In addition, distributions from OFSCC-FS to the Company are restricted by the terms and conditions of the Natixis Facility.

The following table summarizes distributions declared and paid for the nine months ended September 30, 2026 and 2025:


Date Declared	Record Date	Payment Date	Amount Per Share		Cash Distribution
Nine Months Ended September 30, 2026
February 26, 2026	March 20, 2026	March 31, 2026	$	0.17	$	2,278	(1)
April 28, 2026	June 19, 2026	July 6, 2026		0.17		2,277	(1)
July 28, 2026	September 18, 2026	October 5, 2026		0.17		2,278	(1)
Total			$	0.51	$	6,833

Nine Months Ended September 30, 2025
February 26, 2025	March 21, 2025	March 31, 2025	$	0.34	$	4,555	(1)
April 29, 2025	June 20, 2025	June 30, 2025		0.34		4,556	(1)
July 29, 2025	September 19, 2025	September 30, 2025		0.34		4,555	(1)
Total			$	1.02	$	13,666

(1)

During the nine months ended September 30, 2026 and 2025, the Company directed the DRIP plan administrator to purchase shares on the open market in order to satisfy the obligation to deliver shares of common stock. Accordingly, the Company purchased shares to satisfy the DRIP obligation as follows:


Date Declared	Number of Shares Purchased		Average Price Paid Per Share		Total Amount Paid
Nine Months Ended September 30, 2026
January 1, 2026 through March 31, 2026		5,271	$	3.39	$	18
April 1, 2026 through June 30, 2026		7,462		3.82		28
July 1, 2026 through September 30, 2026		4,385		3.55		16
Total / Weighted-Average		17,118	$	3.62	$	62

Nine Months Ended September 30, 2025
January 1, 2025 through March 31, 2025		8,570	$	9.35	$	80
April 1, 2025 through June 30, 2025		9,509		8.61		82
July 1, 2025 through September 30, 2025		11,573		7.72		89
Total / Weighted-Average		29,652	$	8.48	$	251

Distributions in excess of the Company’s current and accumulated ICTI would be treated first as a return of capital to the extent of the stockholder’s adjusted tax basis, and any remaining distributions would be treated as a capital gain. The Company currently estimates that a portion of its distributions for the year ending December 31, 2026 will be characterized as a tax return of capital. The determination of the tax attributes of the Company’s distributions is made annually as of the end of its fiscal year based upon its estimated ICTI for the full year and distributions paid for the full year. Each year, a statement on Form 1099-DIV identifying the tax character of distributions is mailed to the Company’s stockholders.

Stock Repurchase Program:

The Company maintains a Stock Repurchase Program under which the Company may acquire up to $10,000 of its outstanding common stock. On April 28, 2026, the Board extended the Stock Repurchase Program for an additional two-year period ending May 22, 2028, or until the approved dollar amount has been used to repurchase shares. The Stock Repurchase Program may be extended, modified or discontinued at any time for any reason.

During the nine months ended September 30, 2026 and 2025, no shares of common stock were repurchased under the Stock Repurchase Program.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section S50
-Paragraph 1
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-Paragraph 4
-Subparagraph (SAB Topic 4.C)
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481520/505-30-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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Reference 34: http://www.xbrl.org/2003/role/disclosureRef
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Reference 35: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Label

Element

Value

Security 1 Common [Member]

Highest Price or Bid

cef_HighestPriceOrBid

$ 4.2

Highest Price or Bid

cef_HighestPriceOrBid

4.35

Highest Price or Bid

cef_HighestPriceOrBid

5.28

Highest Price or Bid

cef_HighestPriceOrBid

7.81

Highest Price or Bid

cef_HighestPriceOrBid

8.99

Highest Price or Bid

cef_HighestPriceOrBid

9.52

Highest Price or Bid

cef_HighestPriceOrBid

9.8

Highest Price or Bid

cef_HighestPriceOrBid

8.98

Highest Price or Bid

cef_HighestPriceOrBid

9.35

Highest Price or Bid

cef_HighestPriceOrBid

10.14

Highest Price or Bid

cef_HighestPriceOrBid

12.07

Lowest Price or Bid

cef_LowestPriceOrBid

3.15

Lowest Price or Bid

cef_LowestPriceOrBid

3.26

Lowest Price or Bid

cef_LowestPriceOrBid

2.72

Lowest Price or Bid

cef_LowestPriceOrBid

4.44

Lowest Price or Bid

cef_LowestPriceOrBid

7.58

Lowest Price or Bid

cef_LowestPriceOrBid

7.88

Lowest Price or Bid

cef_LowestPriceOrBid

7.92

Lowest Price or Bid

cef_LowestPriceOrBid

7.81

Lowest Price or Bid

cef_LowestPriceOrBid

7.75

Lowest Price or Bid

cef_LowestPriceOrBid

8.42

Lowest Price or Bid

cef_LowestPriceOrBid

$ 9.53

Highest Price or Bid, Premium (Discount) to NAV [Percent]

cef_HighestPriceOrBidPremiumDiscountToNavPercent

(43.10%)

Highest Price or Bid, Premium (Discount) to NAV [Percent]

cef_HighestPriceOrBidPremiumDiscountToNavPercent

(48.30%)

Highest Price or Bid, Premium (Discount) to NAV [Percent]

cef_HighestPriceOrBidPremiumDiscountToNavPercent

(35.30%)

Highest Price or Bid, Premium (Discount) to NAV [Percent]

cef_HighestPriceOrBidPremiumDiscountToNavPercent

(15.00%)

Highest Price or Bid, Premium (Discount) to NAV [Percent]

cef_HighestPriceOrBidPremiumDiscountToNavPercent

(11.60%)

Highest Price or Bid, Premium (Discount) to NAV [Percent]

cef_HighestPriceOrBidPremiumDiscountToNavPercent

(12.70%)

Highest Price or Bid, Premium (Discount) to NAV [Percent]

cef_HighestPriceOrBidPremiumDiscountToNavPercent

(18.10%)

Highest Price or Bid, Premium (Discount) to NAV [Percent]

cef_HighestPriceOrBidPremiumDiscountToNavPercent

(30.10%)

Highest Price or Bid, Premium (Discount) to NAV [Percent]

cef_HighestPriceOrBidPremiumDiscountToNavPercent

(17.20%)

Highest Price or Bid, Premium (Discount) to NAV [Percent]

cef_HighestPriceOrBidPremiumDiscountToNavPercent

(11.90%)

Highest Price or Bid, Premium (Discount) to NAV [Percent]

cef_HighestPriceOrBidPremiumDiscountToNavPercent

8.90%

Lowest Price or Bid, Premium (Discount) to NAV [Percent]

cef_LowestPriceOrBidPremiumDiscountToNavPercent

(57.30%)

Lowest Price or Bid, Premium (Discount) to NAV [Percent]

cef_LowestPriceOrBidPremiumDiscountToNavPercent

(61.20%)

Lowest Price or Bid, Premium (Discount) to NAV [Percent]

cef_LowestPriceOrBidPremiumDiscountToNavPercent

(66.70%)

Lowest Price or Bid, Premium (Discount) to NAV [Percent]

cef_LowestPriceOrBidPremiumDiscountToNavPercent

(51.70%)

Lowest Price or Bid, Premium (Discount) to NAV [Percent]

cef_LowestPriceOrBidPremiumDiscountToNavPercent

(25.50%)

Lowest Price or Bid, Premium (Discount) to NAV [Percent]

cef_LowestPriceOrBidPremiumDiscountToNavPercent

(27.80%)

Lowest Price or Bid, Premium (Discount) to NAV [Percent]

cef_LowestPriceOrBidPremiumDiscountToNavPercent

(33.80%)

Lowest Price or Bid, Premium (Discount) to NAV [Percent]

cef_LowestPriceOrBidPremiumDiscountToNavPercent

(39.20%)

Lowest Price or Bid, Premium (Discount) to NAV [Percent]

cef_LowestPriceOrBidPremiumDiscountToNavPercent

(31.40%)

Lowest Price or Bid, Premium (Discount) to NAV [Percent]

cef_LowestPriceOrBidPremiumDiscountToNavPercent

(26.80%)

Lowest Price or Bid, Premium (Discount) to NAV [Percent]

cef_LowestPriceOrBidPremiumDiscountToNavPercent

(14.00%)

us-gaap:SharePrice

us-gaap_SharePrice

$ 0.17

us-gaap:SharePrice

us-gaap_SharePrice

0.17

us-gaap:SharePrice

us-gaap_SharePrice

0.17

us-gaap:SharePrice

us-gaap_SharePrice

0.17

us-gaap:SharePrice

us-gaap_SharePrice

0.34

us-gaap:SharePrice

us-gaap_SharePrice

0.34

us-gaap:SharePrice

us-gaap_SharePrice

0.34

us-gaap:SharePrice

us-gaap_SharePrice

0.34

us-gaap:SharePrice

us-gaap_SharePrice

0.34

us-gaap:SharePrice

us-gaap_SharePrice

0.34

us-gaap:SharePrice

us-gaap_SharePrice

$ 0.34

BNP Facility [Member]

Long Term Debt, Title [Text Block]

cef_LongTermDebtTitleTextBlock

BNP Facility

On June 20, 2019, OFSCC-FS entered into the BNP Facility, which provided for borrowings in an aggregate principal amount up to $80.0 million during its reinvestment period. Borrowings under the BNP Facility bore interest at a variable rate of SOFR plus a variable margin (2.65% floor), which was determined on the basis of industry-recognized portfolio company metrics at the time of funding.

The following table shows the scheduled maturities of the principal balances of our outstanding borrowings as of September 30, 2026 (in thousands):


	Payments due by period
	Total		Less than 1 year		1 to 3 years		3 to 5 years		After 5 years
Banc of California Credit Facility(1)	$	—	$	—	$	—	$	—	$	—
Natixis Facility		25,400		—		—		25,400		—
Unsecured Notes		129,000		—		129,000		—		—
Total	$	154,400	$	—	$	129,000	$	25,400	$	—

(1) As of September 30, 2026, the Banc of California Credit Facility had no outstanding balance and is scheduled to mature on February 28, 2028.

Unsecured Notes [Member]

Long Term Debt, Title [Text Block]

cef_LongTermDebtTitleTextBlock

Unsecured Notes

As of September 30, 2026 and December 31, 2025, we had $129.0 million and $165.0 million, respectively, in outstanding Unsecured Notes. The Unsecured Notes are direct unsecured obligations and rank equal in right of payment with all of our current and future unsecured indebtedness. Because the Unsecured Notes are not secured by any of our assets, they are effectively subordinated to all existing and future secured unsubordinated indebtedness (or any indebtedness that is initially unsecured as to which we subsequently grant a security interest), to the extent of the value of the assets securing such indebtedness, including, without limitation, borrowings under the Banc of California Credit Facility and Natixis Facility.

In order to, among other things, reduce future cash interest payments, as well as future amounts due at maturity or upon redemption, we may, from time to time, purchase the Unsecured Notes for cash in open market purchases and/or privately negotiated transactions. We will evaluate any such transactions in light of then-existing market conditions, taking into account our current liquidity, prospects for future access to capital, contractual restrictions and other factors. The amounts involved in any such transactions, individually or in the aggregate, may be material. During the nine months ended September 30, 2026, no outstanding Unsecured Notes were repurchased.

Redemption of Unsecured Notes

On January 8, 2026, we issued notices to the holders of the Unsecured Notes Due February 2026 regarding the exercise of our option to redeem on February 9, 2026, $16.0 million of the Unsecured Notes Due February 2026, which was equal to the remainder of the outstanding Unsecured Notes Due February 2026, plus accrued interest of $0.4 million.

On August 28, 2026, we issued notices to the holders of the Unsecured Notes Due July 2028 regarding the exercise of our option to redeem on September 29, 2026, $20.0 million of the issued and outstanding amount of such notes, plus accrued interest of

$0.2 million. We recognized a loss on extinguishment of debt of $0.3 million related to the acceleration of unamortized deferred debt issuance costs on the redeemed notes.

As of September 30, 2026, the Unsecured Notes had the following terms and balances (dollar amounts in thousands):


Unsecured Notes	Principal		Stated Interest Rate			Effective Interest Rate(1)			Optional Redemption Date	Maturity
Unsecured Notes Due July 2028	$	49,000		7.50	%		8.34	%	Callable	July 31, 2028
Unsecured Notes Due October 2028		55,000		4.95			5.32		Callable	October 31, 2028
Unsecured Note Due August 2029		25,000		8.00			8.80		Callable	August 8, 2029
Total / Weighted-Average	$	129,000		6.51	%		7.14	%

(1)

The effective interest rate on the Unsecured Notes includes deferred debt issuance cost amortization.

Natixis Facility [Member]

Long Term Debt, Title [Text Block]

cef_LongTermDebtTitleTextBlock

Natixis Facility

On February 18, 2026, OFSCC-FS entered into the Natixis Facility, which provides for borrowings in an aggregate principal amount up to $80.0 million. Borrowings under the Natixis Facility bear interest at a rate based on SOFR plus a margin of 2.35%. The Natixis Facility also includes a fee of 0.40% on the unused amount of the facility, as well as an arranger fee of 0.20% on the total commitment amount of the facility. The reinvestment period during which OFSCC-FS is permitted to borrow terminates on February 18, 2029, and the facility is scheduled to mature on February 18, 2031.

As of September 30, 2026, the Natixis Facility had outstanding debt of $25.4 million, the unused commitment under the Natixis Facility was $54.6 million, subject to a borrowing base and other covenants, and the stated interest rate on the Natixis Facility was 6.34%.

Borrowings under the Natixis Facility are secured by substantially all of the assets held by OFSCC-FS, which were $82.6 million at September 30, 2026. Our use of cash and cash equivalents held by OFSCC-FS is limited by the terms and conditions of the Natixis Facility, including but not limited to, the payment of interest expense and principal on the outstanding borrowings. As of September 30, 2026 and December 31, 2025, OFSCC-FS had cash and cash equivalents of $1.7 million and $2.4 million, respectively.

Banc of California Credit Facility [Member]

Long Term Debt, Title [Text Block]

cef_LongTermDebtTitleTextBlock

Banc of California Credit Facility

We are party to the BLA with Banc of California, as lender, to provide us with a senior secured revolving credit facility, or the Banc of California Credit Facility, which is available for general corporate purposes, including investment funding, and is scheduled to mature on February 28, 2028. The Banc of California Credit Facility currently bears interest at a variable Prime Rate plus a 0.25% margin, with a 5.00% floor, and an annual commitment fee of 0.50% based on the maximum principal amount of the facility. As of September 30, 2026, the effective interest rate on the Banc of California Credit Facility was 7.77%. The maximum availability of the Banc of California Credit Facility is equal to 50% of the aggregate outstanding principal amount of eligible loans included in the borrowing base, which typically excludes Structured Finance Securities, foreign loans, and non-performing loans, and as otherwise specified in the BLA. The Banc of California Credit Facility is guaranteed by OFSCC-MB and secured by all of our and OFSCC-MB’s current and future assets, excluding assets held by OFSCC-FS and our partnership interests and the assets of SBIC I LP.

On January 9, 2026, we amended the Banc of California Credit Facility to extend the maturity date from February 28, 2026 to February 28, 2028.

On March 27, 2026, we amended the Banc of California Credit Facility to, among other things: (i) reduce the minimum tangible net asset value covenant from $100.0 million to $75.0 million; (ii) reduce the covenant requiring minimum quarterly net investment income after management/incentive fees from $2.0 million to $1.0 million for each of the quarters ending March 31, 2026, June 30, 2026 and September 30, 2026, after which the minimum quarterly net investment income after management/incentive fees covenant shall return to $2.0 million; and (iii) decrease our maximum commitment amount from $25.0 million to $15.0 million.

On September 30, 2026, Banc of California provided a covenant waiver for the quarter ended September 30, 2026 related to the requirement of a $1.0 million minimum quarterly net investment income, after management and incentive fees. We may need covenant waivers in the future and there is no guarantee the covenant waiver will be granted.

The BLA contains customary terms and conditions, including, without limitation, affirmative and negative covenants, such as information reporting requirements, a minimum tangible net asset value, a minimum quarterly net investment income after incentive fees and a debt/worth ratio. The BLA also contains customary events of default, including, without limitation, nonpayment, misrepresentation of representations and warranties in a material respect, breach of covenant, cross-default to other indebtedness, bankruptcy, change in investment advisor, and the occurrence of a material adverse change in our financial condition. As of September 30, 2026, we were in compliance in all material respects with the applicable covenants under the Banc of California Credit Facility (after giving effect to the minimum quarterly net investment income covenant waiver).

As of September 30, 2026, we had no outstanding debt and an unused commitment of $15.0 million under the Banc of California Credit Facility, subject to the terms of the borrowing base and other covenants.

Long Term Debt, Structuring [Text Block]

cef_LongTermDebtStructuringTextBlock

Capital Transactions (Tables)

9 Months Ended

Sep. 30, 2026

Equity [Abstract]

Schedule of Distributions Declared

The following table summarizes distributions declared and paid for the nine months ended September 30, 2026 and 2025:


Date Declared	Record Date	Payment Date	Amount Per Share		Cash Distribution
Nine Months Ended September 30, 2026
February 26, 2026	March 20, 2026	March 31, 2026	$	0.17	$	2,278	(1)
April 28, 2026	June 19, 2026	July 6, 2026		0.17		2,277	(1)
July 28, 2026	September 18, 2026	October 5, 2026		0.17		2,278	(1)
Total			$	0.51	$	6,833

Nine Months Ended September 30, 2025
February 26, 2025	March 21, 2025	March 31, 2025	$	0.34	$	4,555	(1)
April 29, 2025	June 20, 2025	June 30, 2025		0.34		4,556	(1)
July 29, 2025	September 19, 2025	September 30, 2025		0.34		4,555	(1)
Total			$	1.02	$	13,666

(1)


Date Declared	Number of Shares Purchased		Average Price Paid Per Share		Total Amount Paid
Nine Months Ended September 30, 2026
January 1, 2026 through March 31, 2026		5,271	$	3.39	$	18
April 1, 2026 through June 30, 2026		7,462		3.82		28
July 1, 2026 through September 30, 2026		4,385		3.55		16
Total / Weighted-Average		17,118	$	3.62	$	62

Nine Months Ended September 30, 2025
January 1, 2025 through March 31, 2025		8,570	$	9.35	$	80
April 1, 2025 through June 30, 2025		9,509		8.61		82
July 1, 2025 through September 30, 2025		11,573		7.72		89
Total / Weighted-Average		29,652	$	8.48	$	251

Related Party Transactions - Schedule Of Related Party Transactions (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2025	Sep. 30, 2025
Related Party Transactions [Abstract]
Reduction in base management fee	$ 248	$ 771

Fair Value of Financial Instruments - Investment Portfolio Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Thousands

Sep. 30, 2026

Dec. 31, 2025

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Investments, at fair value

$ 252,147

^[1],[2]

$ 342,015

^[3],[4]

Debt investments

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Investments, at fair value

111,145

179,814

Equity investments

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Investments, at fair value

113,872

100,596

Structured Finance Securities

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Investments, at fair value

27,130

61,605

Level 1

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Investments, at fair value

Level 1 | Debt investments

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Investments, at fair value

Level 1 | Equity investments

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Investments, at fair value

Level 1 | Structured Finance Securities

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Investments, at fair value

Level 2

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Investments, at fair value

15,256

14,809

Level 2 | Debt investments

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Investments, at fair value

15,256

14,809

Level 2 | Equity investments

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Investments, at fair value

Level 2 | Structured Finance Securities

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Investments, at fair value

Level 3

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Investments, at fair value

236,891

327,206

Level 3 | Debt investments

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Investments, at fair value

95,889

165,005

Level 3 | Equity investments

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Investments, at fair value

113,872

100,596

Level 3 | Structured Finance Securities

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Investments, at fair value

$ 27,130

$ 61,605

[1]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[2]	Unless otherwise noted in footnote 14, fair value was determined using significant unobservable inputs for all of the Company’s investments and are considered Level 3 under GAAP. See Note 5 for further details.
[3]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[4]	Unless otherwise noted in footnote 14, fair value was determined using significant unobservable inputs for all of the Company’s investments and are considered Level 3 under GAAP. See Note 5 for further details.

- Definition

Fair value of investment in security owned.

+ References

+ Details

Subsequent Events Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Oct. 27, 2026	Oct. 05, 2026	Sep. 30, 2026	Dec. 31, 2025	Sep. 30, 2025
Subsequent Event [Line Items]
Common Stock, Shares, Outstanding			13,398,078	13,398,078	13,398,078
Subsequent Event [Member]
Subsequent Event [Line Items]
Distributions declared per common share (in usd per share)	$ 0.17
Distribution Made to Limited Partner, Declaration Date	Oct. 27, 2026
Distribution Made to Limited Partner, Distribution Date	Jan. 07, 2027
Distribution Made to Limited Partner, Date of Record	Dec. 18, 2026
Subsequent Event [Member] \| SBIC I LP [Member]
Subsequent Event [Line Items]
Limited partnership interests		$ 52.3
Subsequent Event [Member] \| SBIC I LP [Member] \| New Investor [Member]
Subsequent Event [Line Items]
Limited partnership interests Acquired		56.62%
Subsequent Event [Member] \| SBIC I LP [Member] \| Class A shares [Member]
Subsequent Event [Line Items]
Common Stock, Shares, Outstanding		400

Borrowings - Average Dollar Borrowings and Weighted Average Effective Interest Rate (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Debt Disclosure [Abstract]
Average Dollar Borrowings	$ 164,833	$ 270,233	$ 193,742	$ 255,822
Weighted-Average Effective Interest Rate	7.65%	6.67%	7.45%	6.40%

Subsequent Events

9 Months Ended

Sep. 30, 2026

Subsequent Events [Abstract]

Subsequent Events

Note 11. Subsequent Events

Partial Monetization of Equity Interest

On October 5, 2026, SBIC I LP admitted a third-party investor (the “New Investor”) as a limited partner, which acquired 56.62% of the limited partnership interests of SBIC I LP. SBIC I LP holds 400 Class A shares of Pfanstiehl Holdings, Inc., a global manufacturer of high-purity pharmaceutical ingredients. The New Investor acquired its limited partnership interests in exchange for $52.3 million paid to SBIC I LP, the entirety of which was distributed to the Company. Following the transaction, SBIC I LP is no longer a wholly owned subsidiary of the Company.

Litigation

On October 26, 2026, Pfanstiehl Holdings, Inc. filed a complaint in the Delaware Court of Chancery against SBIC I LP, an affiliate and former wholly owned subsidiary of the Company, and OFS SBIC I GP, LLC, its general partner and a wholly owned subsidiary of the Company. The complaint challenges the transaction previously reported in the Company’s Current Report on Form 8-K filed on October 6, 2026 and asserts claims for (i) declaratory judgment that the transaction is void under the stockholder agreement governing SBIC I LP’s shares of Pfanstiehl Holdings, Inc., (ii) breach of that stockholder agreement, and (iii) breach of the implied covenant of good faith and fair dealing. The complaint seeks declaratory and injunctive relief (including an order unwinding the transaction) and unspecified damages, and fees and costs. The Company intends to defend the matter vigorously. Based on the information currently available, the Company cannot predict the outcome of this proceeding and is unable to reasonably estimate the possible loss or range of loss, if any. Costs associated with the litigation will be accrued and expensed as incurred. No amounts have been accrued as of September 30, 2026.

Distribution Declaration

On October 27, 2026, the Board declared a distribution of $0.17 per share for the fourth quarter of 2026, payable on January 7, 2027 to stockholders of record as of December 18, 2026.

Investments - Narrative (Details)
$ in Thousands

3 Months Ended

Sep. 30, 2026

USD ($)

Investment

Dec. 31, 2025

USD ($)

Investment

Schedule of Investments [Line Items]

Amortized cost of loans on non-accrual additions

$ 6,782

Investment Owned, Fair Value

252,147

^[1],[2]

$ 342,015

^[3],[4]

Fair value of loans on non-accrual additions

$ 2,119

Number of portfolio companies | Investment

Investment Owned, Cost

$ 234,170

^[1]

328,400

^[3]

Amortized cost of loans on non-accrual status

41,710

36,567

Fair value of loans on non-accrual status

23,411

14,400

Debt-to-Equity Restructuring [Member]

Schedule of Investments [Line Items]

Amortized cost of loans on non-accrual additions

9,081

Fair value of loans on non-accrual additions

301

First lien debt investments

Schedule of Investments [Line Items]

Investment Owned, Fair Value

108,291

^[5]

$ 170,405

^[6]

Number of portfolio companies | Investment

Investment Owned, Cost

$ 132,536

^[5]

$ 188,236

^[6]

Investment percentage

97.00%

95.00%

Number of non-portfolio investments | Investment

Second Lien Debt Investment [Member]

Schedule of Investments [Line Items]

Investment percentage

3.00%

5.00%

Equity investments

Schedule of Investments [Line Items]

Number of portfolio companies | Investment

[1]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[2]	Unless otherwise noted in footnote 14, fair value was determined using significant unobservable inputs for all of the Company’s investments and are considered Level 3 under GAAP. See Note 5 for further details.
[3]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[4]	Unless otherwise noted in footnote 14, fair value was determined using significant unobservable inputs for all of the Company’s investments and are considered Level 3 under GAAP. See Note 5 for further details.
[5]	Includes unitranche investments (which are loans that combine both senior and subordinated debt, in a first lien position) with an amortized cost and fair value of $86,623 and $69,962, respectively. Unitranche loans generally provide leverage levels comparable to a combination of first lien and second lien or subordinated loans. Investments in “last out” pieces of unitranche loans will be similar to second lien loans in that such investments will be junior in priority to the “first out” piece of the same unitranche loan with respect to payment of principal and interest. Includes secondary priority debt investments governed under a first lien credit agreement.
[6]	Includes unitranche investments (which are loans that combine both senior and subordinated debt, in a first lien position) with an amortized cost and fair value of $130,270 and $116,279, respectively. Unitranche loans generally provide leverage levels comparable to a combination of first lien and second lien or subordinated loans. Investments in “last out” pieces of unitranche loans will be similar to second lien loans in that such investments will be junior in priority to the “first out” piece of the same unitranche loan with respect to payment of principal and interest. Includes secondary priority debt investments governed under a first lien credit agreement.

Borrowings - Maturity (Details)
$ in Thousands

Sep. 30, 2026

USD ($)

Debt Instrument [Line Items]

$ 154,400

129,000

25,400

Banc of California Credit Facility

Debt Instrument [Line Items]

^[1]

^[1]

^[1]

^[1]

^[1]

Natixis Facility [Member]

Debt Instrument [Line Items]

25,400

25,400

Debt Instrument [Line Items]

129,000

129,000

$ 0

[1]	As of September 30, 2026, the Banc of California Credit Facility had no outstanding balance and is scheduled to mature on February 28, 2028.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Financial Highlights (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2026

Sep. 30, 2025

Sep. 30, 2026

Sep. 30, 2025

Jun. 30, 2026

Dec. 31, 2025

Jun. 30, 2025

Dec. 31, 2024

Investment Company, Financial Highlights [Roll Forward]

Net asset value per share at beginning of period

^[1]

$ 8.41

$ 10.91

$ 9.19

$ 12.85

Net investment income (in usd per share)

^[2]

0.05

0.22

0.31

0.72

Net realized loss on investments, net of taxes (in usd per share)

^[2]

(0.58)

(0.35)

(1.88)

(0.85)

Net unrealized depreciation on investments, net of deferred taxes (in usd per share)

^[2]

(0.31)

(0.23)

0.3

(1.49)

Loss on extinguishment of debt (in usd per share)

^[2]

(0.02)

(0.04)

(0.03)

(0.04)

Total net loss from operations (in usd per share)

(0.86)

(0.4)

(1.3)

(1.66)

Distributions declared (in usd per share)

(0.17)

(0.34)

(0.51)

(1.02)

Net asset value per share at end of period

^[1]

7.38

10.17

7.38

10.17

Per share market value, end of period

$ 3.63

$ 7.69

$ 3.63

$ 7.69

Total return based on market value

^[3],[4]

7.30%

(4.90%)

(12.50%)

7.20%

Total return based on net asset value

^[4],[5]

(8.00%)

(2.70%)

(7.70%)

(11.00%)

Shares outstanding at end of period (in shares)

13,398,078

Basic weighted-average common shares outstanding (in shares)

13,398,078

Diluted weighted-average common shares outstanding (in shares)

13,398,078

Ratio/Supplemental Data (in thousands except ratios)

Average net asset value

^[6]

$ 105,721

$ 141,255

$ 110,987

$ 153,780

Net asset value at end of year

98,829

136,314

98,829

136,314

$ 112,612

$ 123,188

$ 146,196

$ 172,225

Net investment income

$ 719

$ 2,940

$ 4,191

$ 9,688

Ratio of total expenses net to average net assets

^[7],[8]

19.70%

21.60%

21.00%

18.80%

Ratio of total expenses net and loss on extinguishment of debt to average net assets

^[7],[9],[10]

20.00%

21.90%

21.40%

19.10%

Ratio of net investment income to average net assets

^[7],[11]

2.70%

8.30%

5.00%

8.40%

Ratio of loss on extinguishment of debt to average net assets

0.30%

^[4]

0.30%

^[4]

0.40%

^[4]

0.30%

^[7],[11]

Portfolio turnover

^[12]

2.80%

4.80%

4.00%

10.50%

[1]	NAV per share is determined as of the last day in the relevant quarter and therefore may not reflect the NAV per share on the date of the high and low sales prices. The NAVs shown are based on outstanding shares at the end of each period.
[2]	Calculated on the average share method.
[3]	Calculated as ending market value less beginning market value, adjusted for distributions reinvested at prices based on the Company’s DRIP for the respective distributions.
[4]	Not annualized.
[5]	Calculated as ending net asset value less beginning net asset value, adjusted for distributions reinvested at prices based on the Company’s DRIP for the respective distributions.
[6]	Based on the average of the net asset value at the beginning and end of the indicated period and, if applicable, the preceding calendar quarters.
[7]	Annualized.
[8]	Ratio of total expenses before the base management fee waiver to average net assets was 20.4% and 21.7% for the three and nine months ended September 30, 2026.
[9]	Calculated as total expenses (annualized) plus the loss on extinguishment of debt, divided by average net assets.
[10]	Ratio of total expenses before the base management fee waiver plus the loss on extinguishment of debt to average net assets was 20.7% and 22.1% for the three and nine months ended September 30, 2026.
[11]	Ratio of net investment income before the base management fee waiver to average net assets was 2.1% and 4.3% for the three and nine months ended September 30, 2026.
[12]	Portfolio turnover rate is calculated using the lesser of period-to-date sales, portfolio investment distributions and principal payments or period-to-date purchases over the average of total investments at fair value.

Consolidated Schedule of Investments (Parenthetical) - USD ($)
$ in Thousands

Sep. 30, 2026

Dec. 31, 2025

Schedule of Investments [Line Items]

Principal Amount

$ 227,353

^[1]

$ 343,435

^[2]

Effective accretable yield

0.00%

Qualifying assets percentage

81.00%

Cash

$ 1,865

$ 3,050

Cash and cash equivalents

$ 1,865

$ 3,050

Minimum

Schedule of Investments [Line Items]

Effective accretable yield

5.00%

Qualifying assets percentage

70.00%

Nonresidential Property Managers [Member] | Common Class B [Member]

Schedule of Investments [Line Items]

Share of common stock owned (in shares)

1,185

Nonresidential Property Managers [Member] | Preferred Class A [Member]

Schedule of Investments [Line Items]

Interest Rate, PIK

12.50%

Share of common stock owned (in shares)

1,715

Services For The Elderly And Persons With Disabilities [Member] | Common Class A [Member]

Schedule of Investments [Line Items]

Share of common stock owned (in shares)

1,290

Services For The Elderly And Persons With Disabilities [Member] | Preferred Class A [Member]

Schedule of Investments [Line Items]

Interest Rate, PIK

2.00%

Interest rate, cash

12.00%

Share of common stock owned (in shares)

3,446

Other Justice, Public Order, and Safety Activities [Member] | Common Stock

Schedule of Investments [Line Items]

Share of common stock owned (in shares)

20,628

Drugs and Druggists' Sundries Merchant Wholesalers [Member] | Common Stock

Schedule of Investments [Line Items]

Share of common stock owned (in shares)

12,663

All Other General Merchandise Stores [Member] | Common Stock

Schedule of Investments [Line Items]

Share of common stock owned (in shares)

499

Other Industrial Machinery Manufacturing [Member] | Common Stock

Schedule of Investments [Line Items]

Warrants

$ 73

$ 73,000

Software Publishers [Member] | Common Class A [Member]

Schedule of Investments [Line Items]

Share of common stock owned (in shares)

345,339

Convention and Trade Show Organizers [Member] | Preferred Equity Series B [Member]

Schedule of Investments [Line Items]

Share of common stock owned (in shares)

1,603

Professional and Management Development Training [Member] | Common Class A [Member]

Schedule of Investments [Line Items]

Share of common stock owned (in shares)

670

Medical Laboratories [Member] | Preferred Stock [Member]

Schedule of Investments [Line Items]

Share of common stock owned (in shares)

4,701

Office Machinery and Equipment Rental and Leasing [Member] | Preferred Equity Series A [Member]

Schedule of Investments [Line Items]

Interest Rate, PIK

10.00%

Share of common stock owned (in shares)

3,061

Office Machinery and Equipment Rental and Leasing [Member] | Preferred Equity Series A [Member] | Warrant Shares [Member]

Schedule of Investments [Line Items]

Share of common stock owned (in shares)

224

Office Machinery and Equipment Rental and Leasing [Member] | Preferred Equity Series C [Member]

Schedule of Investments [Line Items]

Interest Rate, PIK

14.00%

Share of common stock owned (in shares)

2,750

Office Machinery and Equipment Rental and Leasing [Member] | Common Stock

Schedule of Investments [Line Items]

Share of common stock owned (in shares)

11,273

Office Machinery and Equipment Rental and Leasing [Member] | Common Stock | Warrant Shares [Member]

Schedule of Investments [Line Items]

Share of common stock owned (in shares)

1,946

Data Processing, Hosting, and Related Services [Member] | Common Stock

Schedule of Investments [Line Items]

Share of common stock owned (in shares)

1,135

Pharmaceutical Preparation Manufacturing [Member] | Common Class A [Member]

Schedule of Investments [Line Items]

Share of common stock owned (in shares)

400

Offices of Physicians and Mental Health Specialists [Member] | Common Class A [Member]

Schedule of Investments [Line Items]

Share of common stock owned (in shares)

52,763

Variable-rate Loans

Schedule of Investments [Line Items]

Principal Amount

$ 103,271

$ 168,018

[1]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[2]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.

Borrowings

9 Months Ended

Sep. 30, 2026

Debt Disclosure [Abstract]

Borrowings

Note 7. Borrowings

Natixis Facility: On February 18, 2026, OFSCC-FS entered into the Natixis Facility, which provides for borrowings in an aggregate principal amount up to $80,000. Borrowings under the Natixis Facility bear interest at a rate based on SOFR plus a margin of 2.35%. The Natixis Facility also includes a fee of 0.40% on the unused amount of the facility, as well as an arranger fee of 0.20% on the total commitment amount of the facility. The reinvestment period during which OFSCC-FS is permitted to borrow terminates on February 18, 2029, and the facility is scheduled to mature on February 18, 2031.

As of September 30, 2026, the Natixis Facility had outstanding debt of $25,400, the unused commitment under the Natixis Facility was $54,600, subject to a borrowing base and other covenants, and the stated interest rate on the Natixis Facility was 6.34%.

Borrowings under the Natixis Facility are secured by substantially all of the assets held by OFSCC-FS, which were $82,633 at September 30, 2026. The Company’s use of cash and cash equivalents held by OFSCC-FS is limited by the terms and conditions of the Natixis Facility, including but not limited to, the payment of interest expense and principal on the outstanding borrowings. As of September 30, 2026 and December 31, 2025, OFSCC-FS had cash and cash equivalents of $1,716 and $2,443, respectively. OFSCC-FS and the Company have each made customary representations and warranties under the Natixis Facility and are required to comply with various covenants, reporting requirements and other customary requirements for similar credit facilities.


	Three Months Ended September 30,						Nine Months Ended September 30,
	2026			2025			2026			2025
Stated interest expense(1)	$	356		$	—		$	1,563		$	—
Amortization of debt issuance costs		91			—			224			—
Total interest and debt financing costs	$	447		$	—		$	1,787		$	—
Cash paid for interest expense	$	800		$	—		$	1,198		$	—
Effective interest rate		10.95	%		—	%		8.13	%		—	%
Average outstanding balance	$	16,202		$	—		$	29,390		$	—

(1) Stated interest expense includes unused fees.

BNP Facility: OFSCC-FS was party to the BNP Facility, which provided for borrowings in an aggregate principal amount up to $80,000 during its reinvestment period. Borrowings under the BNP Facility bore interest at a variable rate of SOFR plus a variable margin (2.65% floor), which was determined on the basis of industry-recognized portfolio company metrics at the time of funding.

On February 18, 2026, in connection with the closing of the Natixis Facility, OFSCC-FS repaid in full all outstanding obligations due, and terminated all commitments, under the BNP Facility. All liens securing the BNP Facility were released upon such repayment. In connection with the termination of the facility, the Company recognized a loss on extinguishment of debt of $89 related to the acceleration of deferred financing costs.

As of September 30, 2026 and December 31, 2025, the BNP Facility had outstanding debt of $0 and $50,950, respectively.


	Three Months Ended September 30,						Nine Months Ended September 30,
	2026			2025			2026			2025
Stated interest expense(1)	$	—		$	1,205		$	437		$	3,752
Amortization of debt issuance costs		—			75			37			266
Total interest and debt financing costs	$	—		$	1,280		$	474		$	4,018
Cash paid for interest expense	$	—		$	1,235		$	752		$	3,815
Effective interest rate		—	%		8.14	%		7.12	%		8.25	%
Average outstanding balance	$	—		$	62,418		$	8,902		$	65,084

(1) For the three and nine months ended September 30, 2025, stated interest expense includes unused fees.

Banc of California Credit Facility: On March 7, 2018, the Company entered into the Banc of California Credit Facility. The Banc of California Credit Facility currently bears interest at a variable rate of the Prime Rate plus a 0.25% margin, with a 5.00% floor, and includes an annual commitment fee of 0.50% of the maximum commitment amount. The Banc of California Credit Facility is scheduled to mature on February 28, 2028.

On January 9, 2026, the Company amended the Banc of California Credit Facility to extend the maturity date from February 28, 2026 to February 28, 2028.

On March 27, 2026, the Company amended the Banc of California Credit Facility to, among other things: (i) reduce the minimum tangible net asset value covenant from $100,000 to $75,000; (ii) reduce the covenant requiring minimum quarterly net investment income after management/incentive fees from $2,000 to $1,000 for each of the quarters ending March 31, 2026, June 30, 2026 and September 30, 2026, after which the minimum quarterly net investment income after management/incentive fees covenant shall return to $2,000; and (iii) decrease the Company’s maximum commitment amount from $25,000 to $15,000. In connection with the maximum commitment reduction from $25,000 to $15,000, the Company recognized a loss on extinguishment of debt of $41 related to the acceleration of deferred financing costs.

On September 30, 2026, Banc of California provided a covenant waiver for the quarter ended September 30, 2026 related to the requirement of a $1,000 minimum quarterly net investment income, after management and incentive fees.

As of September 30, 2026 and December 31, 2025, the Company had outstanding debt under the Banc of California Credit Facility of $0 and $4,500, respectively. As of September 30, 2026, the unused commitment under the Banc of California Credit Facility was

$15,000, subject to the terms of the borrowing base and other covenants. As of September 30, 2026, the stated interest rate on the Banc of California Credit Facility was 7.25%.

The maximum availability of the Banc of California Credit Facility is equal to 50% of the aggregate outstanding principal amount of eligible loans included in the borrowing base, which typically excludes Structured Finance Securities, foreign loans, and non-performing loans, and as otherwise specified in the BLA. The Banc of California Credit Facility is guaranteed by OFSCC-MB and secured by all of our and OFSCC-MB’s current and future assets, excluding assets held by OFSCC-FS, and the Company’s partnership interests and assets in SBIC I LP. The Company has made customary representations and warranties and is required to comply with various covenants, reporting requirements and other customary requirements for similar credit facilities.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026			2025
Stated interest expense	$	1	$	—	$	228		$	80
Amortization of debt issuance costs		19		32		67			95
Total interest and debt financing costs	$	20	$	32	$	295		$	175
Cash paid for interest expense	$	1	$	—	$	235		$	83
Effective interest rate(1)	n/m		n/m			9.15	%	n/m
Average outstanding balance	$	65	$	—	$	4,311		$	1,364

(1) Not meaningful due to a minimal average outstanding balance relative to the size of the total commitment and the amount of commitment fees incurred during the periods.

Unsecured Notes: As of September 30, 2026 and December 31, 2025, the Company had $129,000 and $165,000, respectively, in aggregate principal of outstanding Unsecured Notes.

Unsecured Notes Due October 2028 (Nasdaq: OFSSH): On October 28, 2021 and November 1, 2021, the Company issued $55,000 in aggregate principal of unsecured notes. The Unsecured Notes Due October 2028 bear interest at a rate of 4.95% per year payable semi-annually and mature on October 31, 2028. The Company may redeem the Unsecured Notes Due October 2028 in whole or in part at any time.

Unsecured Notes Due July 2028 (Nasdaq: OFSSO): On July 23, 2025, the Company closed the public offering of $69,000 aggregate principal amount of its Unsecured Notes Due July 2028, which included $9,000 of aggregate principal amount related to the underwriters’ option to cover overallotments. The net proceeds to the Company from the Unsecured Notes Due July 2028, after deducting underwriting fees of $1,380 and offering expenses of $326, was $67,294. The Unsecured Notes Due July 2028 bear interest at a stated rate of 7.50% and will mature on July 31, 2028. The Company may redeem the Unsecured Notes Due July 2028 in whole or in part at any time.

On August 28, 2026, the Company issued notices to the holders of the Unsecured Notes Due July 2028 regarding the exercise of its option to redeem on September 29, 2026, $20,000 of the issued and outstanding amount of such notes, plus accrued interest of $246. The Company recognized a loss on extinguishment of debt of $310 related to the acceleration of unamortized deferred debt issuance costs on the redeemed notes.

As of September 30, 2026, the Company had $49,000 of outstanding Unsecured Notes Due July 2028.

The indenture governing the Unsecured Notes Due July 2028 and Unsecured Notes Due October 2028 contains certain covenants, including: (i) prohibiting additional borrowings, including through the issuance of additional debt securities, unless the Company's asset coverage, as defined in the 1940 Act, after giving effect to any exemptive relief granted to the Company by the SEC, equals at least 150% after such borrowings; and (ii) prohibiting (a) the declaration of any cash dividend or distribution upon any class of the Company’s capital stock (except to the extent necessary for the Company to maintain its treatment as a RIC under Subchapter M of the Code), or (b) the purchase of any capital stock unless the Company’s asset coverage, as defined in the 1940 Act, is at least 150% at the time of such capital transaction and after deducting the amount of such transaction.

Unsecured Note Due August 2029: On August 8, 2025, the Company entered into the Securities Purchase Agreement, pursuant to which the Company sold in a private placement a $25,000 principal amount Unsecured Note Due August 2029. The net proceeds to the Company from the Unsecured Note Due August 2029, after deducting discounts of $750 and offering expenses of $48, was $24,202. The Unsecured Note Due August 2029 bears interest at a stated rate of 8.00% and will mature on August 8, 2029. The

Company may redeem the Unsecured Note Due August 2029 in whole or in part at any time. The Securities Purchase Agreement contains customary terms and conditions for unsecured notes issued in a private placement, including, without limitation, affirmative and negative covenants such as information reporting, maintenance of the Company’s status as a BDC within the meaning of the 1940 Act and minimum asset coverage ratio.

Unsecured Notes Due February 2026: On February 10, 2021 and March 18, 2021, the Company issued $125,000 in aggregate principal of unsecured notes. The Unsecured Notes Due February 2026 bore interest at a rate of 4.75% per year and were scheduled to mature on February 10, 2026.

On January 8, 2026, the Company issued notices to the holders of the Unsecured Notes Due February 2026 regarding the exercise of its option to redeem on February 9, 2026 $16,000 of the Unsecured Notes Due February 2026, which was equal to the remainder of the outstanding Unsecured Notes Due February 2026, plus accrued interest of $378.

As of September 30, 2026, the Company had no outstanding Unsecured Notes Due February 2026.

The Unsecured Notes are direct unsecured obligations and rank equal in right of payment with all current and future unsecured indebtedness of the Company. Because the Unsecured Notes are not secured by any of the Company’s assets, they are effectively subordinated to all existing and future secured unsubordinated indebtedness (or any indebtedness that is initially unsecured as to which the Company subsequently grants a security interest), to the extent of the value of the assets securing such indebtedness, including, without limitation, borrowings under the Banc of California Credit Facility.


	Three Months Ended September 30,						Nine Months Ended September 30,
	2026			2025			2026			2025
Stated interest expense	$	2,466		$	2,908		$	7,495		$	7,238
Amortization of debt issuance costs		245			322			750			811
Total interest and debt financing costs	$	2,711		$	3,230		$	8,245		$	8,049
Cash paid for interest expense	$	2,720		$	3,753		$	8,047		$	8,083
Effective interest rate		7.24	%		6.17	%		7.29	%		5.68	%
Average outstanding balance	$	148,565		$	207,815		$	151,139		$	189,374

The following table shows the scheduled maturities of the principal balances of the Company’s outstanding borrowings as of September 30, 2026:


	Payments due by period
	Total		Less than 1 year		1 to 3 years		3 to 5 years		After 5 years
Banc of California Credit Facility(1)	$	—	$	—	$	—	$	—	$	—
Natixis Facility		25,400		—		—		25,400		—
Unsecured Notes		129,000		—		129,000		—		—
Total	$	154,400	$	—	$	129,000	$	25,400	$	—

(1) As of September 30, 2026, the Banc of California Credit Facility had no outstanding balance and is scheduled to mature on February 28, 2028.

For the three and nine months ended September 30, 2026 and 2025, the average dollar borrowings and weighted average effective interest rate on the Company’s outstanding borrowings were as follows:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2026			2025			2026			2025
Average dollar borrowings	$	164,833		$	270,233		$	193,742		$	255,822
Weighted average effective interest rate		7.65	%		6.67	%		7.45	%		6.40	%

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
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-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(16))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
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-Name Accounting Standards Codification
-Section S50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480657/210-10-S50-8

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.5-02(19)(b))
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
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-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147480657/210-10-S50-9

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
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-URI https://asc.fasb.org/470/tableOfContent

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
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-Name Accounting Standards Codification
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-Publisher FASB
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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Reference 31: http://www.xbrl.org/2003/role/disclosureRef
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Reference 32: http://www.xbrl.org/2003/role/disclosureRef
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Reference 34: http://www.xbrl.org/2003/role/disclosureRef
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Reference 35: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Borrowings - Unsecured Notes Interest Expense and Average Outstanding Balance (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Jan. 08, 2026	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Debt Instrument [Line Items]
Amortization of debt issuance costs				$ 1,078	$ 1,172
Cash paid for interest expense				$ 10,232	$ 11,981
Effective interest rate		7.65%	6.67%	7.45%	6.40%
Average outstanding balance		$ 164,833	$ 270,233	$ 193,742	$ 255,822
Unsecured Notes
Debt Instrument [Line Items]
Cash paid for interest expense	$ 378
Unsecured Notes
Debt Instrument [Line Items]
Stated interest expense		2,466	2,908	7,495	7,238
Amortization of debt issuance costs		245	322	750	811
Total interest and debt financing costs		2,711	3,230	8,245	8,049
Cash paid for interest expense		$ 2,720	$ 3,753	$ 8,047	$ 8,083
Effective interest rate		7.24%	6.17%	7.29%	5.68%
Average outstanding balance		$ 148,565	$ 207,815	$ 151,139	$ 189,374

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Consolidated Statements of Operations (unaudited) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2026

Sep. 30, 2025

Sep. 30, 2026

Sep. 30, 2025

Investment income

Interest income:

$ 5,205

$ 9,125

$ 18,829

$ 28,326

Payment-in-kind interest and dividend income:

516

770

1,702

2,140

Dividend income:

494

907

515

Fee income:

206

162

241

341

Total investment income

5,938

10,551

21,679

31,322

Expenses

Interest expense

3,178

4,542

10,801

12,242

Base management fee

^[1]

1,221

1,410

3,996

4,438

Income Incentive Fee

607

408

1,758

Professional fees

404

388

1,112

1,227

Administration fee

338

387

1,031

1,163

Other expenses

251

277

736

806

Total expenses before base management fee waiver

5,392

7,611

18,084

21,634

Base management fee waiver (see Note 3)

(173)

(596)

Total expenses, net of base management fee waiver

5,219

7,611

17,488

21,634

Net investment income

719

2,940

4,191

9,688

Net realized and unrealized gain (loss) on investments

Net realized (loss) gain

(25,143)

(11,424)

Income tax benefit on net realized loss on investments

Deferred tax expense on net unrealized appreciation

(149)

(280)

(497)

(34)

Net loss on investments

(11,914)

(7,775)

(21,277)

(31,441)

Loss on extinguishment of debt

(310)

(492)

(440)

(492)

Net decrease in net assets resulting from operations

$ (11,505)

$ (5,327)

$ (17,526)

$ (22,245)

Loss per common share - basic

$ (0.86)

$ (0.4)

$ (1.3)

$ (1.66)

Loss per common share - diluted

$ (0.86)

$ (0.4)

$ (1.3)

$ (1.66)

Basic weighted-average common shares outstanding (in shares)

13,398,078

Diluted weighted-average common shares outstanding (in shares)

13,398,078

Non-control/non-affiliate investments

Investment income

Interest income:

$ 5,201

$ 9,125

$ 18,812

$ 28,326

Payment-in-kind interest and dividend income:

419

248

1,205

Dividend income:

221

242

Fee income:

205

162

240

341

Net realized and unrealized gain (loss) on investments

Net realized (loss) gain

(7,824)

(4,647)

(25,143)

(11,425)

Net unrealized appreciation (depreciation) on investments

2,215

1,002

(4,348)

(6,609)

Affiliate investments

Investment income

Interest income:

Payment-in-kind interest and dividend income:

440

351

1,454

935

Dividend income:

273

874

273

Fee income:

Net realized and unrealized gain (loss) on investments

Net unrealized appreciation (depreciation) on investments

$ (6,156)

$ (3,851)

$ 8,711

$ (13,374)

[1]

Consolidated Statements of Assets and Liabilities (unaudited) - USD ($)
$ in Thousands

Sep. 30, 2026

Dec. 31, 2025

Assets

Investments, at fair value

$ 252,147

^[1],[2]

$ 342,015

^[3],[4]

Cash and cash equivalents

3,132

3,359

Interest and dividend receivable

330

719

Receivable for investments sold

2,390

Prepaid expenses and other assets

2,910

613

Total assets

260,909

346,706

Liabilities

Revolving lines of credit

25,400

55,450

Unsecured Notes (net of deferred debt issuance costs of $1,752 and $2,812, respectively)

127,248

162,188

Interest payable

1,760

2,269

Distribution payable

2,278

Payable for investments purchased

1,461

Total liabilities

162,080

223,518

Net Assets

Preferred stock, par value of $0.01 per share, 2,000,000 shares authorized, -0- shares issued and outstanding as of September 30, 2026 and December 31, 2025,respectively

Common stock, par value of $0.01 per share, 100,000,000 shares authorized, 13,398,078 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively

134

Paid-in capital in excess of par

174,195

Total accumulated losses

(75,500)

(51,141)

Total net assets

98,829

123,188

Total liabilities and net assets

$ 260,909

$ 346,706

Number of common shares outstanding

13,398,078

Net asset value per share

^[5]

$ 7.38

$ 9.19

Affiliated entity

Liabilities

Payable to adviser and affiliates (Note 3)

$ 1,545

$ 2,264

Other liabilities

1,545

2,264

Nonrelated party

Liabilities

Payable to adviser and affiliates (Note 3)

2,388

1,347

Other liabilities

2,388

1,347

Non-control/non-affiliate investments

Assets

Investments, at fair value

141,976

^[1],[2]

242,070

^[3],[4]

Affiliate investments

Assets

Investments, at fair value

$ 110,171

^[1],[2]

$ 99,945

^[3],[4]

[1]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[2]	Unless otherwise noted in footnote 14, fair value was determined using significant unobservable inputs for all of the Company’s investments and are considered Level 3 under GAAP. See Note 5 for further details.
[3]	Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[4]	Unless otherwise noted in footnote 14, fair value was determined using significant unobservable inputs for all of the Company’s investments and are considered Level 3 under GAAP. See Note 5 for further details.
[5]	NAV per share is determined as of the last day in the relevant quarter and therefore may not reflect the NAV per share on the date of the high and low sales prices. The NAVs shown are based on outstanding shares at the end of each period.

Capital Transactions - Narrative (Details) - USD ($) $ in Thousands		9 Months Ended
	Apr. 28, 2026	Sep. 30, 2026	Sep. 30, 2025	Dec. 31, 2025
Class of Stock [Line Items]
Cash and cash equivalents		$ 1,865		$ 3,050
Stock repurchase program, authorized amount		$ 10,000
Stock repurchase program, period	2 years
Stock Repurchased During Period, Shares		0	0

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

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+ Details