CION
CION Investment
Portfolio Fair Value
$1.89B
239 holdings
Avg Spread
+6.96%
FV-weighted, debt
Avg Coupon
7.77%
FV-weighted
% First Lien
73.1%
of debt FV
Unrealized P/L
-$55.01M
-2.83% of cost
Non-Accrual
9
text-detected
Balance sheet
Assets$1.85B
Liabilities + Equity$1.85B
First Lien
$1.33B · 71.5%
First Lien
$1.33B · 71.5%
Second Lien
$116.50M · 6.3%
Subordinated
$4.83M · 0.3%
Other Debt
$8.70M · 0.5%
Equity
$333.16M · 18.0%
Equity
$333.16M · 18.0%
Other
$23.75M · 1.3%
Cash & Equivalents
$8.16M · 0.4%
Other Assets
$33.65M · 1.8%
Debt (Borrowings)
$1.13B · 60.7%
Debt (Borrowings)
$1.13B · 60.7%
Other Liabilities
$21.59M · 1.2%
Net Assets (Equity)
$707.63M · 38.2%
Net Assets (Equity)
$707.63M · 38.2%
Industry Composition
Services: Business
13.2%
Retail
10.4%
Healthcare & Pharmaceuticals
10.1%
Unclassified
7.9%
Energy: Oil & Gas
7.8%
Beverage, Food & Tobacco
6.6%
Media: Diversified & Production
6.5%
Services: Consumer
6.0%
Consumer Goods: Durable
4.8%
Banking, Finance, Insurance & Real Estate
3.7%
Construction & Building
3.5%
High Tech Industries
3.0%
Other industries
16.5%
Spread Distribution
1.0%
3.5%
5.0%
6.0%
6.5%
7.0%
8.0%
9.0%
10.0%
12.0%
Schedule of Investments
All holdings
All holdings
Sortable, click headers to re-sort
239 of 286
| Issuer | Industry | Type | Fair Value | Cost | Unrealized | Coupon | Spread | Maturity |
|---|---|---|---|---|---|---|---|---|
First American Treasury Obligations Fund, Class Z Shares, Short Term Investments | — | Senior Secured Second Lien Debt | $116.01M | $116.01M | $0.00 | 3.64% | — | — |
Longview Intermediate Holdings C, LLC | Energy: Oil & Gas | Membership Units, Equity | $105.66M | $12.92M | $92.74M | — | — | — |
David's Bridal, LLC. | Retail | Senior Secured First Lien Debt, 12/21/2027 Maturity #1 | $82.55M | $92.88M | -$10.33M | — | +6.50% | 2027-12-21 |
Cennox, Inc. | Services: Business | Senior Secured First Lien Debt, 5/4/2029 Maturity #1 | $37.85M | $38.09M | -$234.0K | — | +6.75% | 2029-05-04 |
CION/EagleTree Partners, LLC. | Diversified Financials | Senior Secured First Lien Debt, 12/21/2026 Maturity | $36.04M | $36.04M | $0.00 | 14.00% | — | 2026-12-21 |
Instant Web, LLC | Media: Advertising, Printing & Publishing | Senior Secured First Lien Debt, 02/25/2027 Maturity #1 | $35.64M | $57.14M | -$21.50M | — | +7.00% | 2027-02-25 |
Entertainment Studios P&A LLC. | Media: Diversified & Production | Senior Secured First Lien Debt, 9/30/2030 Maturity | $34.47M | $34.47M | -$1.0K | — | +9.00% | 2030-09-30 |
OpCo Borrower,LLC | Healthcare & Pharmaceuticals | Senior Secured First Lien Debt, 04/26/2029 Maturity | $27.09M | $27.00M | $90.0K | — | +6.25% | 2029-04-26 |
Gold Medal Holdings, Inc. | Environmental Industries | Senior Secured First Lien Debt, 3/17/2027 Maturity #1 | $27.07M | $26.96M | $108.0K | — | +5.75% | 2027-03-17 |
Hilliard, Martinez & Gonzales, LLP. | Services: Consumer | Senior Secured First Lien Debt, 4/30/2025 Maturity | $26.81M | $27.21M | -$403.0K | — | +12.00% | 2025-04-30 |
Community Tree Service, LLC. | Construction & Building | Senior Secured First Lien Debt, 6/17/2027 Maturity | $24.96M | $24.84M | $119.0K | — | +8.00% | 2027-06-17 |
Future Pak, LLC. | Healthcare & Pharmaceuticals | Senior Secured First Lien Debt, 3/21/2030 Maturity | $23.75M | $23.75M | $0.00 | — | +6.50% | 2030-03-21 |
JP Intermediate B, LLC | Beverage, Food & Tobacco | Senior Secured First Lien Debt, 03/31/2031 Maturity | $23.56M | $27.16M | -$3.60M | — | +5.50% | 2031-03-31 |
JP Intermediate B, LLC | Beverage, Food & Tobacco | Common Shares, Controlled Investments | $23.28M | — | — | — | — | — |
JuicePlus Topco, LLC | Beverage, Food & Tobacco | Membership Units, Equity | $23.28M | $31.24M | -$7.96M | — | — | — |
American Clinical Solutions LLC | Healthcare & Pharmaceuticals | Senior Secured First Lien Debt, 6/30/2026 Maturity | $23.13M | $28.07M | -$4.93M | — | +7.00% | 2026-06-30 |
Wok Holdings Inc. | Beverage, Food & Tobacco | Senior Secured First Lien Debt, 09/03/2029 Maturity | $23.08M | $23.76M | -$682.0K | — | +6.25% | 2029-09-03 |
Lift Brands, Inc. | Services: Consumer | Senior Secured First Lien Debt, 09/30/2026 Maturity #1 | $21.68M | $21.39M | $294.0K | — | +7.50% | 2026-09-30 |
FuseFX, LLC. | Media: Diversified & Production | Senior Secured First Lien Debt, 9/30/2027 Maturity | $20.95M | $21.45M | -$497.0K | — | +6.00% | 2027-09-30 |
Klein Hersh, LLC | Services: Business | Senior Secured First Lien Debt, 04/27/2028 Maturity | $20.89M | $21.12M | -$234.0K | — | +8.50% | 2028-04-27 |
WorkGenius, Inc. | Services: Business | Senior Secured First Lien Debt, 06/07/2027 Maturity #1 | $20.80M | $20.80M | $0.00 | — | +7.00% | 2027-06-07 |
Anthem Sports & Entertainment Inc. | Media: Diversified & Production | Senior Secured First Lien Debt, 11/15/2027 Maturity #1 | $20.44M | $25.21M | -$4.77M | 10.00% | — | 2027-11-15 |
SRA Holdings, LLC | — | Common Equity, Non-Controlled, Affiliated Investments | $20.29M | — | — | — | — | — |
SRA Parent, LLC | Banking, Finance, Insurance & Real Estate | Common Units, Equity | $20.29M | $19.98M | $304.0K | — | — | — |
Core Health & Fitness, LLC | Consumer Goods: Durable | Senior Secured First Lien Debt, 6/17/2029 Maturity | $20.09M | $19.47M | $620.0K | — | +8.00% | 2029-06-17 |
BDS Solutions Intermediateco, LLC | Services: Business | Senior Secured First Lien Debt, 2/7/2027 Maturity #1 | $19.49M | $19.39M | $95.0K | — | +6.75% | 2027-02-07 |
ICA Foam Holdings, LLC | Containers, Packaging & Glass | Senior Secured First Lien Debt, 12/05/2026 Maturity | $18.65M | $18.68M | -$24.0K | — | +6.00% | 2026-12-05 |
Carestream Health Holdings, Inc. | Healthcare & Pharmaceuticals | Common Stock, Equity | $18.08M | $21.76M | -$3.68M | — | — | — |
SHF Holdings, Inc. | Beverage, Food & Tobacco | Senior Secured First Lien Debt, 01/22/2030 Maturity #1 | $18.08M | $18.08M | $0.00 | — | +5.50% | 2030-01-22 |
Sleep Opco,LLC | Retail | Senior Secured First Lien Debt, 11/07/2030 Maturity #1 | $17.94M | $17.94M | $0.00 | — | +6.50% | 2030-11-07 |
Trammell, P.C. | Services: Consumer | Senior Secured First Lien Debt, 04/28/2026 Maturity | $17.71M | $17.71M | $0.00 | — | +15.50% | 2026-04-28 |
Inotiv, Inc. | Healthcare & Pharmaceuticals | Senior Secured First Lien Debt, 11/05/2026 Maturity | $17.65M | $20.07M | -$2.42M | — | +6.75% | 2026-11-05 |
Homer City Generation, L.P. | Energy: Oil & Gas | Senior Secured First Lien Debt, 4/16/2028 Maturity | $17.60M | $18.41M | -$817.0K | 15.00% | — | 2028-04-16 |
INW Manufacturing, LLC | Services: Business | Senior Secured First Lien Debt, 03/25/2027 Maturity | $17.46M | $17.40M | $66.0K | — | +5.75% | 2027-03-25 |
PRA Acquisition,LLC | Hotel, Gaming & Leisure | Senior Secured First Lien Debt, 05/12/2028 Maturity | $17.46M | $17.46M | $0.00 | — | +6.50% | 2028-05-12 |
David's Bridal, LLC. | Retail | Senior Secured First Lien Debt, 12/21/2027 Maturity #2 | $16.62M | $16.75M | -$125.0K | — | +6.00% | 2027-12-21 |
Berlitz Holdings, Inc. | Services: Business | Senior Secured First Lien Debt, 7/31/2026 Maturity #1 | $16.47M | $17.27M | -$803.0K | — | +9.00% | 2026-07-31 |
MacNeill Pride Group Corp | Services: Consumer | Senior Secured First Lien Debt, 04/22/2026 Maturity #1 | $16.16M | $16.17M | -$12.0K | — | +6.25% | 2026-04-22 |
Celerity Acquisition Holdings, LLC | Services: Business | Senior Secured First Lien Debt, 5/28/2026 Maturity | $15.95M | $15.94M | $6.0K | — | +8.50% | 2026-05-28 |
Homer City Generation, L.P. | Energy: Oil & Gas | Senior Secured First Lien Debt, 4/16/2028 Maturity 04/16/2028 Maturity | $15.66M | $15.50M | $156.0K | 17.00% | — | 2028-04-16 |
Riddell, Inc. | Consumer Goods: Durable | / All American Sports Corp., Senior Secured First Lien Debt, 03/29/2029 Maturity | $15.11M | $15.03M | $88.0K | — | +6.00% | 2029-03-29 |
Thrill Holdings LLC | Media: Diversified & Production | Senior Secured First Lien Debt, 05/27/2027 Maturity #1 | $14.99M | $18.22M | -$3.22M | — | +6.00% | 2027-05-27 |
Optio Rx,LLC | Healthcare & Pharmaceuticals | Senior Secured First Lien Debt, 03/21/2030 Maturity #1 | $14.88M | $14.88M | $0.00 | — | +10.00% | 2030-03-21 |
Playboy Enterprises,Inc | Consumer Goods: Non-Durable | Senior Secured First Lien Debt, 05/25/2027 Maturity | $14.86M | $14.76M | $99.0K | — | +6.25% | 2027-05-25 |
CrossLink Professional Tax Solutions, LLC | High Tech Industries | Senior Secured First Lien Debt, 6/30/2028 Maturity #1 | $14.78M | $14.64M | $136.0K | — | — | — |
Hollander Intermediate LLC. | Consumer Goods: Durable | Senior Secured First Lien Debt, 9/19/2027 Maturity | $14.65M | $18.49M | -$3.84M | — | +3.00% | 2027-09-19 |
APS Acquisition Holdings, LLC | Construction & Building | Senior Secured First Lien Debt, 7/11/2029 Maturity #1 | $14.52M | $14.52M | $0.00 | — | +5.50% | 2029-07-11 |
Lux Credit Consultants LLC | Automotive | Senior Secured First Lien Debt, 04/29/2028 Maturity #1 | $14.44M | $18.51M | -$4.07M | — | +7.25% | 2028-04-29 |
American Health Staffing Group, Inc. | Services: Business | Senior Secured First Lien Debt, 11/19/2026 Maturity #1 | $14.00M | $13.97M | $27.0K | — | +5.00% | 2026-11-19 |
LAV Gear Holdings, Inc. | Services: Business | Senior Secured First Lien Debt, 07/31/2029 Maturity #1 | $13.89M | $16.27M | -$2.38M | — | +5.94% | 2029-07-31 |
CION/EagleTree Partners, LLC | Diversified Financials | Participating Preferred Shares, Equity | $13.68M | $22.07M | -$8.39M | — | — | — |
Metrc Inc. | High Tech Industries | Senior Secured First Lien Debt, 09/30/2031 Maturity #1 | $13.47M | $13.20M | $263.0K | — | +5.50% | 2031-09-30 |
Carestream Health, Inc. | Healthcare & Pharmaceuticals | Senior Secured First Lien Debt, 9/30/2027 Maturity | $12.91M | $11.41M | $1.50M | — | +7.50% | 2027-09-30 |
Cabi, LLC | Retail | Senior Secured First Lien Debt, 2/28/2027 Maturity | $12.77M | $12.81M | -$43.0K | — | +6.00% | 2027-02-28 |
Stengel Hill Architecture, LLC | Construction & Building | Senior Secured First Lien Debt, 08/16/2028 Maturity #1 | $12.53M | $12.53M | -$1.0K | — | +6.75% | 2028-08-16 |
Anthem Sports & Entertainment Inc. | Media: Diversified & Production | Senior Secured First Lien Debt, 11/15/2027 Maturity #2 | $12.51M | $12.96M | -$450.0K | — | +5.50% | 2027-11-15 |
Bradshaw International Parent Corp. | Consumer Goods: Durable | Senior Secured First Lien Debt, 10/21/2027 Maturity | $12.50M | $12.51M | -$7.0K | — | +5.75% | 2027-10-21 |
Invincible Boat Company LLC | Consumer Goods: Durable | Senior Secured First Lien Debt; 03/31/2028 Maturity #1 | $12.16M | $13.44M | -$1.28M | — | +8.00% | 2028-03-31 |
Ancile Solutions, Inc. | High Tech Industries | Senior Secured First Lien Debt, 6/11/2026 Maturity | $12.11M | $10.21M | $1.90M | — | +10.00% | 2026-06-11 |
URS Topco, LLC | Transportation: Cargo | Common Equity, Equity | $11.99M | $9.67M | $2.32M | — | — | — |
SRA Holdings, LLC | — | Preferred Equity, Non-Controlled, Affiliated Investments | $11.97M | — | — | — | — | — |
SRA Parent, LLC | Banking, Finance, Insurance & Real Estate | Preferred Units, Equity | $11.97M | $11.97M | -$2.0K | — | — | — |
Straine Dental Management, LLC | Healthcare & Pharmaceuticals | Senior Secured First Lien Debt, 11/25/2030 Maturity | $11.64M | $11.64M | -$2.0K | — | +7.42% | 2030-11-25 |
Tactical Air Support, Inc. | Aerospace & Defense | Senior Secured First Lien Debt, 12/22/2028 Maturity #1 | $11.25M | $11.25M | $0.00 | — | +7.50% | 2028-12-22 |
RA Outdoors,LLC | Media: Diversified & Production | Senior Secured First Lien Debt, 06/30/2027 Maturity #1 | $10.88M | $11.98M | -$1.09M | — | +6.75% | 2027-06-30 |
Avison Young (USA) Inc. | Banking, Finance, Insurance & Real Estate | Senior Secured First Lien Debt, 3/12/2029 Maturity #1 | $10.80M | $10.97M | -$168.0K | — | +8.00% | 2029-03-12 |
IPP Buyer Holdings, LLC | Retail | Class A Units, Equity | $10.76M | $10.74M | $15.0K | — | — | — |
Appalachian Resource Company, LLC | Metals & Mining | Senior Secured First Lien Debt, 12/31/2025 Maturity #1 | $10.47M | $15.17M | -$4.71M | — | +5.00% | 2025-12-31 |
Adapt Laser Acquisition, Inc. | Capital Equipment | Senior Secured First Lien Debt, 12/31/2029 Maturity #1 | $10.15M | $10.15M | $0.00 | — | +7.25% | 2029-12-31 |
Palmetto Clean Technology, Inc. | High Tech Industries | Warrants., Equity | $9.91M | $472.0K | $9.43M | — | — | — |
Trademark Global, LLC | Consumer Goods: Non-Durable | Senior Secured First Lien Debt, 06/30/2027 Maturity | $9.85M | $19.39M | -$9.54M | — | +8.50% | 2027-06-30 |
David's Bridal, LLC. | Retail | Senior Secured First Lien Debt, 12/21/2027 Maturity #3 | $9.79M | $9.60M | $188.0K | — | +6.50% | 2027-12-21 |
Spin Holdco Inc. | Services: Business | Senior Secured First Lien Debt, 03/04/2028 Maturity | $9.78M | $10.51M | -$734.0K | — | +4.00% | 2028-03-04 |
David's Bridal, LLC. | Retail | Senior Secured First Lien Debt, 12/21/2027 Maturity #4 | $9.69M | $11.00M | -$1.31M | — | +6.00% | 2027-12-21 |
David's Bridal Holdings, LLC | Retail | Class A Common Units, Equity | $9.51M | $23.13M | -$13.62M | — | — | — |
David's Bridal Holdings, LLC | Retail | Preferred Units, Equity | $9.50M | $10.82M | -$1.32M | — | — | — |
David's Bridal, Inc | Retail | Incremental First Lien Term Loan, Controlled Investments #2 | $9.22M | — | — | — | — | — |
Dermcare Management, LLC. | Healthcare & Pharmaceuticals | Senior Secured First Lien Debt, 4/22/2028 Maturity #1 | $9.07M | $8.99M | $88.0K | — | +6.00% | 2028-04-22 |
ESP Associates, Inc. | Construction & Building | Senior Secured First Lien Debt, 7/24/2028 Maturity #1 | $8.51M | $8.41M | $96.0K | — | +6.50% | 2028-07-24 |
Spinal USA, Inc. | Healthcare & Pharmaceuticals | / Precision Medical Inc, Senior Secured First Lien Debt, 05/29/2026 Maturity #1 | $8.14M | $19.94M | -$11.81M | 0.00% | — | 2026-05-29 |
Lift Brands, Inc. | Services: Consumer | Senior Secured First Lien Debt, 09/30/2026 Maturity #3 | $8.01M | $8.13M | -$129.0K | 9.50% | — | 2026-09-30 |
RumbleOn,Inc | Automotive | Senior Secured First Lien Debt, 09/30/2027 Maturity #1 | $7.90M | $7.85M | $49.0K | — | +7.75% | 2027-09-30 |
Newbury Franklin Industrials LLC | Capital Equipment | Senior Secured First Lien Debt, 12/11/2029 Maturity #1 | $7.87M | $7.85M | $21.0K | — | +7.00% | 2029-12-11 |
Avison Young (Canada) Inc. | Banking, Finance, Insurance & Real Estate | Class A Preferred Shares, Equity | $7.83M | $11.02M | -$3.19M | — | — | — |
Allen Media, LLC | Media: Diversified & Production | Senior Secured First Lien Debt, 2/10/2027 Maturity | $7.70M | $8.57M | -$871.0K | — | +5.50% | 2027-02-10 |
White Tiger NewCo, LLC | Services: Business | Class A Units, Equity | $7.57M | $12.66M | -$5.09M | — | — | — |
Avison Young (USA) Inc. | Banking, Finance, Insurance & Real Estate | Senior Secured First Lien Debt, 3/12/2028 Maturity | $7.55M | $7.88M | -$331.0K | — | +6.25% | 2028-03-12 |
WorkGenius, Inc. | Services: Business | Senior Secured First Lien Debt, 06/07/2027 Maturity #3 | $7.43M | $7.43M | $0.00 | — | +7.00% | 2027-06-07 |
TMK Hawk Parent, Corp. | Services: Business | Senior Secured First Lien Debt, 06/30/2029 Maturity | $7.40M | $7.50M | -$104.0K | — | +5.25% | 2029-06-30 |
NewsCycle Solutions,Inc | Media: Advertising, Printing & Publishing | Senior Secured First Lien Debt, 09/30/2026 Maturity | $7.38M | $11.66M | -$4.28M | — | +1.00% | 2026-09-30 |
Lift Brands, Inc. | Services: Consumer | Senior Secured First Lien Debt, 09/30/2026 Maturity #2 | $7.21M | $7.29M | -$80.0K | 9.50% | — | 2026-09-30 |
JP Intermediate B, LLC | Beverage, Food & Tobacco | Senior Secured First Lien Debt, 09/30/2030 Maturity #1 | $6.89M | $6.89M | $0.00 | — | +7.00% | 2030-09-30 |
Ironhorse Purchaser, LLC | Services: Business | Senior Secured First Lien Debt, 09/30/2027 Maturity #1 | $6.81M | $6.78M | $31.0K | — | +5.25% | 2027-09-30 |
Appalachian Resource Company, LLC | Metals & Mining | Senior Secured First Lien Debt, 12/31/2025 Maturity #2 | $6.17M | $6.46M | -$291.0K | — | +10.00% | 2025-12-31 |
MacNeill Pride Group Corp | Services: Consumer | Senior Secured First Lien Debt, 04/22/2026 Maturity #2 | $5.96M | $5.96M | $5.0K | — | +6.25% | 2026-04-22 |
K&N Parent, Inc. | Consumer Goods: Durable | Senior Secured First Lien Debt, 08/16/2027 Maturity | $5.52M | $6.02M | -$496.0K | — | +8.25% | 2027-08-16 |
TMK Hawk Parent, Corp. | Services: Business | Common Shares, Equity | $5.47M | $8.58M | -$3.11M | — | — | — |
ALA Holdco LLC | Capital Equipment | Equity | $5.35M | $5.43M | -$84.0K | — | — | — |
Adapt Laser Acquisition, Inc, Controlled Investments | Capital Equipment | Senior Secured Second Lien Debt | $5.35M | — | — | — | — | — |
LAV Gear Holdings, Inc. | Services: Business | Senior Secured First Lien Debt, 07/31/2029 Maturity #2 | $5.13M | $4.98M | $151.0K | — | +5.94% | 2029-07-31 |
Snap Fitness Holdings, Inc. | Services: Consumer | Class A Common Stock, Equity | $5.05M | $3.08M | $1.97M | — | — | — |
Ivy Hill Middle Market Credit Fund VIII, Ltd. | Diversified Financials | Subordinated Loan., Collateralized Securities and Structured Products - Equity, 4/28/2039 Maturity | $5.03M | $4.97M | $59.0K | — | — | 2039-04-28 |
Isagenix International, LLC | Beverage, Food & Tobacco | Senior Secured First Lien Debt, 04/14/2028 Maturity | $4.86M | $10.28M | -$5.42M | — | +7.50% | 2028-04-14 |
Lucky Bucks Holdings LLC | Hotel, Gaming & Leisure | Unsecured Debt, 05/26/2028 Maturity | $4.84M | $22.86M | -$18.02M | 12.50% | — | 2028-05-26 |
David's Bridal Holdings, LLC | Retail | Class B Common Units, Equity | $4.79M | $6.98M | -$2.19M | — | — | — |
K&N Parent, Inc. | Consumer Goods: Durable | Senior Secured First Lien Debt, 02/16/2027 Maturity | $4.22M | $4.07M | $144.0K | — | +8.00% | 2027-02-16 |
STATinMED, LLC | Healthcare & Pharmaceuticals | Senior Secured First Lien Debt, 07/01/2027 Maturity #1 | $4.20M | $11.71M | -$7.51M | — | +9.50% | 2027-07-01 |
PLBY Group, Inc. | Consumer Goods: Non-Durable | Common Stock, Equity | $4.17M | $5.51M | -$1.34M | — | — | — |
Dermcare Management, LLC. | Healthcare & Pharmaceuticals | Senior Secured First Lien Debt, 4/22/2028 Maturity #2 | $4.13M | $4.09M | $41.0K | — | +6.00% | 2028-04-22 |
Avison Young (USA) Inc. | Banking, Finance, Insurance & Real Estate | Senior Secured First Lien Debt, 12/12/2027 Maturity #1 | $4.02M | $3.90M | $119.0K | — | +8.50% | 2027-12-12 |
Online Pharmacy Holdings, LLC | Healthcare & Pharmaceuticals | Series A Preferred Equity, Equity | $3.91M | $3.23M | $682.0K | — | — | — |
Xenon Arc, Inc. | High Tech Industries | Senior Secured First Lien Debt, 12/20/2028 Maturity | $3.80M | $3.78M | $18.0K | — | +5.75% | 2028-12-20 |
WorkGenius, LLC | Services: Business | Class A Units, Equity #2 | $3.74M | $6.83M | -$3.09M | — | — | — |
BDS Solutions Intermediateco, LLC | Services: Business | Senior Secured First Lien Debt, 2/7/2027 Maturity #2 | $3.33M | $3.27M | $62.0K | — | +6.75% | 2027-02-07 |
HW Acquisition, LLC | Capital Equipment | Senior Secured First Lien Debt, 09/28/2026 Maturity #1 | $3.03M | $5.69M | -$2.65M | — | +6.00% | 2026-09-28 |
Cennox, Inc. | Services: Business | Senior Secured First Lien Debt, 5/4/2029 Maturity #2 | $2.95M | $2.99M | -$38.0K | — | +6.75% | 2029-05-04 |
Avison Young (USA) Inc. | Banking, Finance, Insurance & Real Estate | Senior Secured First Lien Debt, 12/12/2027 Maturity #3 | $2.88M | $2.99M | -$112.0K | — | +7.35% | 2027-12-12 |
HW Acquisition, LLC | Capital Equipment | Senior Secured First Lien Debt, 09/28/2026 Maturity #2 | $2.88M | $5.40M | -$2.52M | — | +5.00% | 2026-09-28 |
Atlas Supply LLC | Healthcare & Pharmaceuticals | Senior Secured First Lien Debt, 4/29/2025 Maturity | $2.71M | $5.00M | -$2.29M | 13.00% | — | 2025-04-29 |
Robert C. Hilliard,L.L.P. | Services: Consumer | Senior Secured First Lien Debt, 04/30/2025 Maturity | $2.51M | $2.55M | -$44.0K | — | +12.00% | 2025-04-30 |
Instant Web, LLC | Media: Advertising, Printing & Publishing | Senior Secured First Lien Debt, 02/25/2027 Maturity #2 | $2.46M | $2.56M | -$99.0K | — | +6.50% | 2027-02-25 |
EBSC Holdings LLC | Consumer Goods: Durable | Preferred Units, Equity | $2.45M | $2.35M | $105.0K | — | — | — |
Instant Web, LLC | Media: Advertising, Printing & Publishing | Revolving Loan, Non-Controlled, Affiliated Investments | $2.42M | — | — | — | — | — |
RumbleOn,Inc | Automotive | Senior Secured First Lien Debt, 09/30/2027 Maturity #2 | $2.38M | $2.40M | -$12.0K | — | +7.75% | 2027-09-30 |
Service Compression Holdings, LLC | Energy: Oil & Gas | Warrants, Equity | $2.38M | $1.43M | $956.0K | — | — | — |
Emerald Technologies (U.S.) Acquisitionco, Inc. | Services: Business | Senior Secured First Lien Debt, 12/29/2027 Maturity | $2.25M | $2.70M | -$451.0K | — | +6.25% | 2027-12-29 |
Ascent Resources - Marcellus, LLC | Energy: Oil & Gas | Membership Units., Equity | $2.17M | $1.64M | $531.0K | — | — | — |
New Giving Acquisition, Inc. | Healthcare & Pharmaceuticals | Warrants, Equity | $2.17M | $633.0K | $1.53M | — | — | — |
Mount Logan Capital Inc. | Banking, Finance, Insurance & Real Estate | Common Stock, Equity | $2.10M | $3.53M | -$1.43M | — | — | — |
STATinMED, LLC | Healthcare & Pharmaceuticals | Senior Secured First Lien Debt, 11/07/2030 Maturity | $2.09M | $498.0K | $1.59M | 0.00% | — | 2027-07-01 |
Snap Fitness Holdings, Inc. | Services: Consumer | Warrants, Equity | $2.05M | $1.25M | $799.0K | — | — | — |
Tactical Air Support, Inc. | Aerospace & Defense | Senior Secured First Lien Debt, 12/22/2028 Maturity #2 | $1.95M | $1.95M | $0.00 | — | +7.50% | 2028-12-22 |
Cennox, Inc. | Services: Business | Senior Secured First Lien Debt, 5/4/2029 Maturity #4 | $1.95M | $1.97M | -$25.0K | — | +6.75% | 2029-05-04 |
Tactical Air Support, Inc. | Aerospace & Defense | Senior Secured First Lien Debt, 12/22/2028 Maturity #3 | $1.88M | $1.84M | $35.0K | — | +7.50% | 2028-12-22 |
Ironhorse Purchaser, LLC | Services: Business | Senior Secured First Lien Debt, 09/30/2027 Maturity #2 | $1.86M | $1.85M | $8.0K | — | +5.25% | 2027-09-30 |
APS Acquisition Holdings, LLC | Construction & Building | Senior Secured First Lien Debt, 7/11/2029 Maturity #2 | $1.81M | $1.81M | $2.0K | — | +5.50% | 2029-07-11 |
Service Compression Holdings, LLC | Energy: Oil & Gas | Junior Preferred Units, Equity | $1.71M | $1.33M | $385.0K | — | — | — |
Berlitz Holdings, Inc. | Services: Business | Senior Secured First Lien Debt, 7/31/2026 Maturity #2 | $1.67M | $1.64M | $26.0K | — | +9.00% | 2026-07-31 |
TMK Hawk Parent, Corp. | Services: Business | Unsecured Debt, 12/15/2031 Maturity | $1.65M | $1.72M | -$69.0K | 11.00% | — | 2031-12-15 |
Instant Web, LLC | Media: Advertising, Printing & Publishing | Senior Secured First Lien Debt, 02/25/2027 Maturity #3 | $1.63M | $1.70M | -$65.0K | — | +6.50% | 2027-02-25 |
David's Bridal, LLC. | Retail | Senior Secured First Lien Debt, 12/21/2027 Maturity #5 | $1.60M | $1.77M | -$177.0K | 0.00% | — | 2027-12-21 |
Instant Web, LLC | Media: Advertising, Printing & Publishing | First Lien Delayed Draw Term Loan, Non-Controlled, Affiliated Investments | $1.57M | — | — | — | — | — |
Stengel Hill Architecture, LLC | Construction & Building | Senior Secured First Lien Debt, 08/16/2028 Maturity #2 | $1.51M | $1.51M | $0.00 | — | +6.75% | 2028-08-16 |
Lux Credit Consultants LLC | Automotive | Senior Secured First Lien Debt, 04/29/2028 Maturity #2 | $1.51M | $1.94M | -$426.0K | — | +7.25% | 2028-04-29 |
NSG Co-Invest (Bermuda) LP | Consumer Goods: Durable | Partnership Interests, Equity | $1.51M | $1.00M | $508.0K | — | — | — |
K&N Holdco, LLC | Consumer Goods: Durable | Membership Units, Equity | $1.49M | $8.93M | -$7.44M | — | — | — |
First American Treasury Obligations Fund | — | Class Z Shares | $1.45M | $1.45M | $0.00 | — | — | — |
Adapt Laser Acquisition, Inc. | Capital Equipment | Senior Secured First Lien Debt, 12/31/2029 Maturity #2 | $1.44M | $1.44M | $0.00 | — | +7.25% | 2029-12-31 |
JP Intermediate B, LLC | Beverage, Food & Tobacco | Senior Secured First Lien Debt, 09/30/2030 Maturity #2 | $1.41M | $130.0K | $1.28M | — | +5.50% | 2031-03-31 |
Dermcare Management, LLC. | Healthcare & Pharmaceuticals | Senior Secured First Lien Debt, 4/22/2028 Maturity #3 | $1.34M | $1.34M | $0.00 | — | +6.00% | 2028-04-22 |
The Men's Wearhouse, LLC | Retail | Senior Secured First Lien Debt, 02/26/2029 Maturity | $1.28M | $1.27M | $11.0K | — | +5.75% | 2029-02-26 |
CrossLink Professional Tax Solutions, LLC | High Tech Industries | Senior Secured First Lien Debt, 6/30/2028 Maturity #3 | $1.23M | $1.23M | -$3.0K | — | +5.25% | 2028-06-30 |
Heritage Power, LLC. | Energy: Oil & Gas | Senior Secured First Lien Debt, 7/20/2028 Maturity | $1.18M | $1.19M | -$12.0K | — | +5.50% | 2028-07-20 |
David's Bridal, LLC. | Retail | Senior Secured First Lien Debt, 12/21/2027 Maturity #6 | $1.17M | $1.30M | -$129.0K | 0.00% | — | 2027-12-21 |
RA Outdoors,LLC | Media: Diversified & Production | Senior Secured First Lien Debt, 06/30/2027 Maturity #2 | $1.04M | $1.14M | -$95.0K | — | +6.75% | 2027-06-30 |
Avison Young (USA) Inc. | Banking, Finance, Insurance & Real Estate | Senior Secured First Lien Debt, 12/12/2027 Maturity #2 | $1.04M | $1.06M | -$18.0K | — | +8.50% | 2027-12-12 |
Invincible Boat Company LLC | Consumer Goods: Durable | Senior Secured First Lien Debt, 03/31/2028 Maturity #2 | $1.01M | $1.12M | -$109.0K | — | +7.50% | 2028-03-31 |
Newbury Franklin Industrials LLC | Capital Equipment | Senior Secured First Lien Debt, 12/11/2029 Maturity #2 | $897.0K | $906.0K | -$9.0K | — | +7.00% | 2029-12-11 |
Gold Medal Holdings, Inc. | Environmental Industries | Senior Secured First Lien Debt, 3/17/2027 Maturity #2 | $863.0K | $863.0K | $0.00 | — | +5.75% | 2027-03-17 |
Spinal USA, Inc. | Healthcare & Pharmaceuticals | / Precision Medical Inc, Senior Secured First Lien Debt, 05/29/2026 Maturity #6 | $825.0K | $826.0K | -$1.0K | 0.00% | — | 2026-05-29 |
Stengel Hill Architecture, LLC | Construction & Building | Senior Secured First Lien Debt, 08/16/2028 Maturity #3 | $825.0K | $825.0K | $0.00 | — | +6.75% | 2028-08-16 |
WorkGenius, Inc. | Services: Business | Senior Secured First Lien Debt, 06/07/2027 Maturity #2 | $750.0K | $745.0K | $5.0K | — | +7.00% | 2027-06-07 |
STATinMED, LLC | Healthcare & Pharmaceuticals | Senior Secured First Lien Debt, 07/01/2027 Maturity #2 | $733.0K | $1.00M | -$271.0K | 0.00% | — | 2027-07-01 |
Spinal USA, Inc. | Healthcare & Pharmaceuticals | / Precision Medical Inc, Senior Secured First Lien Debt, 05/29/2026 Maturity #2 | $723.0K | $1.77M | -$1.05M | 0.00% | — | 2026-05-29 |
Optio Rx,LLC | Healthcare & Pharmaceuticals | Senior Secured First Lien Debt, 03/21/2030 Maturity #2 | $709.0K | $709.0K | $0.00 | — | +10.00% | 2030-03-21 |
CF Arch Holdings LLC | Services: Business | Class A Units, Equity | $705.0K | $381.0K | $324.0K | — | — | — |
Williams Industrial Services Group, Inc. | Services: Business | Senior Secured First Lien Debt, 12/16/2025 Maturity #1 | $702.0K | $1.43M | -$724.0K | — | +11.00% | 2025-12-16 |
Lux Credit Consultants LLC | Automotive | Senior Secured First Lien Debt, 04/29/2028 Maturity #3 | $689.0K | $883.0K | -$194.0K | — | +7.25% | 2028-04-29 |
Instant Web, LLC | Media: Advertising, Printing & Publishing | Senior Secured First Lien Debt, 02/25/2027 Maturity #4 | $632.0K | $622.0K | $10.0K | — | +3.75% | 2027-02-25 |
CTS Ultimate Holdings, LLC | Construction & Building | Class A Preferred Units, Equity | $626.0K | $237.0K | $389.0K | — | — | — |
FWS Parent Holdings, LLC | Services: Business | Class A Membership Interests, Equity | $614.0K | $800.0K | -$186.0K | — | — | — |
Avison Young (USA) Inc. | Banking, Finance, Insurance & Real Estate | Senior Secured First Lien Debt, 3/12/2029 Maturity #2 | $587.0K | $587.0K | $0.00 | — | +8.00% | 2029-03-12 |
NS NWN Acquisition, LLC | High Tech Industries | Class A Preferred Units, Equity | $521.0K | — | — | — | — | — |
Berlitz Holdings, Inc. | Services: Business | Senior Secured First Lien Debt, 7/31/2026 Maturity #3 | $473.0K | $472.0K | $1.0K | — | +9.00% | 2026-07-31 |
Spinal USA, Inc. | Healthcare & Pharmaceuticals | / Precision Medical Inc, Senior Secured First Lien Debt, 05/29/2026 Maturity #3 | $465.0K | $1.06M | -$593.0K | 0.00% | — | 2026-05-29 |
Spinal USA, Inc. | Healthcare & Pharmaceuticals | / Precision Medical Inc, Senior Secured First Lien Debt, 05/29/2026 Maturity #4 | $441.0K | $1.08M | -$642.0K | 0.00% | — | 2026-05-29 |
LB NewHoldco LLC | Hotel, Gaming & Leisure | Voting Units, Equity | $432.0K | $4.20M | -$3.77M | — | — | — |
Language Education Holdings LP | Services: Business | Ordinary Common Units., Equity | $381.0K | $825.0K | -$444.0K | — | — | — |
Spinal USA, Inc. | Healthcare & Pharmaceuticals | / Precision Medical Inc, Senior Secured First Lien Debt, 05/29/2026 Maturity #5 | $368.0K | $838.0K | -$470.0K | 0.00% | — | 2026-05-29 |
WorkGenius, LLC | Services: Business | Class A Units, Equity #1 | $365.0K | $500.0K | -$135.0K | — | — | — |
RumbleOn, Inc. | Automotive | Warrants, Equity, 08/14/2028 Maturity | $227.0K | $502.0K | -$275.0K | — | — | 2028-08-14 |
STATinMED, LLC | Healthcare & Pharmaceuticals | Senior Secured First Lien Debt, 07/01/2027 Maturity #3 | $199.0K | $224.0K | -$25.0K | — | — | — |
Entertainment Studios P&A LLC. | Media: Diversified & Production | Senior Secured First Lien Debt, 5/18/2037 Maturity | $198.0K | — | — | 5.00% | — | 2037-05-18 |
ESP Associates, Inc. | Construction & Building | Senior Secured First Lien Debt, 7/24/2028 Maturity #2 | $197.0K | $171.0K | $26.0K | — | +6.50% | 2028-07-24 |
NS NWN Holdco LLC | High Tech Industries | Non-Voting Units, Equity | $158.0K | — | — | — | — | — |
Klein Hersh, LLC | Services: Business | Unsecured Debt, 04/27/2032 Maturity | $153.0K | $988.0K | -$835.0K | 0.00% | — | 2032-04-27 |
Spinal USA, Inc. | Healthcare & Pharmaceuticals | / Precision Medical Inc, Senior Secured First Lien Debt, 05/29/2026 Maturity #7 | $153.0K | $125.0K | $28.0K | 0.00% | — | 2026-05-29 |
Williams Industrial Services Group, Inc. | Services: Business | Senior Secured First Lien Debt, 12/16/2025 Maturity #2 | $149.0K | $304.0K | -$155.0K | — | +11.00% | 2025-12-16 |
Heritage Litigation Trust, Restricted Stock | Energy: Oil & Gas | Equity | $131.0K | $100.0K | $31.0K | — | — | — |
TMK Hawk Parent, Corp. | Services: Business | Warrants, Equity | $94.0K | — | — | — | — | — |
Yak Holding II, LLC | Construction & Building | Series A Common Units, Equity | $7.0K | — | — | — | — | — |
Berlitz Holdings, Inc. | Services: Business | Senior Secured First Lien Debt, 7/31/2026 Maturity #4 | $4.0K | — | — | — | — | 2026-07-31 |
Anthem Sports & Entertainment Inc. | Media: Diversified & Production | Senior Secured First Lien Debt, 11/15/2027 Maturity #3 | $0.00 | $3.66M | -$3.66M | 1.00% | — | 2027-11-15 |
Avison Young (Canada) Inc. | Banking, Finance, Insurance & Real Estate | Class F Common Shares, Equity | $0.00 | $3.18M | -$3.18M | — | — | — |
Isagenix Worldwide, Inc. | Beverage, Food & Tobacco | Common Shares, Equity | $0.00 | $8.99M | -$8.99M | — | — | — |
New HW Holdings Corp. | Capital Equipment | Preferred Stock, Equity | $0.00 | $9.90M | -$9.90M | — | — | — |
RA Outdoors, LLC | Media: Diversified & Production | Senior Secured Second Lien Debt, 12/31/2027 Maturity | $0.00 | $2.22M | -$2.22M | — | +9.00% | 2027-12-31 |
STATinMed Parent, LLC | Healthcare & Pharmaceuticals | Class A Preferred Units, Equity | $0.00 | $6.18M | -$6.18M | — | — | — |
STATinMed Parent, LLC | Healthcare & Pharmaceuticals | Class B Preferred Units, Equity | $0.00 | $3.19M | -$3.19M | — | — | — |
LAV Gear Holdings, Inc. | Services: Business | Senior Secured First Lien Debt, 07/31/2029 Maturity #3 | -$7.0K | -$73.0K | $66.0K | — | — | 2029-07-31 |
Avison Young (USA) Inc. | Banking, Finance, Insurance & Real Estate | Senior Secured First Lien Debt, 1/31/2026 Maturity | -$8.0K | — | — | — | — | 2026-01-31 |
Invincible Boat Company LLC | Consumer Goods: Durable | Senior Secured First Lien Debt, 08/31/2027 Maturity | -$8.0K | — | — | — | — | 2027-08-31 |
Newbury Franklin Industrials LLC | Capital Equipment | Senior Secured First Lien Debt, 12/11/2029 Maturity #3 | -$11.0K | -$11.0K | $0.00 | — | — | 2029-12-11 |
Bradshaw International Parent Corp. | Consumer Goods: Durable | Senior Secured First Lien Debt, 10/21/2026 Maturity | -$18.0K | -$7.0K | -$11.0K | — | — | 2026-10-21 |
Straine Dental Management, LLC | Healthcare & Pharmaceuticals | Senior Secured First Lien Debt, 05/25/2027 Maturity | -$37.0K | -$18.0K | -$19.0K | — | — | 2027-05-25 |
Instant Web, LLC | Media: Advertising, Printing & Publishing | Senior Secured First Lien Debt, 02/25/2027 Maturity #5 | -$38.0K | — | — | — | — | 2027-02-25 |
Instant Web, LLC | Media: Advertising, Printing & Publishing | Senior Secured First Lien Debt, 02/25/2027 Maturity #6 | -$67.0K | — | — | — | — | 2027-02-25 |
RA Outdoors,LLC | Media: Diversified & Production | Senior Secured First Lien Debt, 06/30/2027 Maturity #3 | -$99.0K | — | — | — | — | 2027-06-30 |
Thrill Holdings LLC | Media: Diversified & Production | Senior Secured First Lien Debt, 05/27/2027 Maturity #2 | -$285.0K | — | — | — | — | 2027-05-27 |
David's Bridal, LLC. | Retail | Senior Secured First Lien Debt, 12/21/2026 Maturity | -$475.0K | — | — | — | — | 2026-12-31 |
ACS Holdings LLC | Healthcare & Pharmaceuticals | Class A-1 Membership Units, Equity | — | — | — | — | — | — |
APS Acquisition Holdings, LLC | Construction & Building | Senior Secured First Lien Debt, 7/11/2026 Maturity | — | -$4.0K | — | — | — | 2026-07-11 |
APS Acquisition Holdings, LLC | Construction & Building | Senior Secured First Lien Debt, 7/11/2029 Maturity #3 | — | — | — | — | — | 2029-07-11 |
Adapt Laser Acquisition, Inc. | Capital Equipment | Senior Secured First Lien Debt, 12/31/2029 Maturity #3 | — | — | — | — | — | 2029-12-31 |
American Health Staffing Group, Inc. | Services: Business | Senior Secured First Lien Debt, 11/19/2026 Maturity #2 | — | -$4.0K | — | — | — | 2026-11-19 |
BDS Solutions Intermediateco, LLC | Services: Business | Senior Secured First Lien Debt, 2/7/2027 Maturity #3 | — | -$25.0K | — | — | — | 2027-02-07 |
CION/EagleTree Partners, LLC | Diversified Financials | Senior Secured Note | — | — | — | 14.00% | — | — |
Cennox, Inc. | Services: Business | Senior Secured First Lien Debt, 5/4/2029 Maturity #3 | — | — | — | — | — | 2029-05-04 |
CrossLink Professional Tax Solutions, LLC | High Tech Industries | Senior Secured First Lien Debt, 6/30/2028 Maturity #2 | — | -$22.0K | — | — | — | 2028-06-30 |
ESP Associates, Inc. | Construction & Building | Senior Secured First Lien Debt, 7/24/2028 Maturity #3 | — | — | — | — | — | 2028-07-24 |
Gold Medal Holdings, Inc. | Environmental Industries | Senior Secured First Lien Debt, 3/17/2027 Maturity #3 | — | -$11.0K | — | — | — | 2027-03-17 |
Instant Web Holdings, LLC | Media: Advertising, Printing & Publishing | Class A Common Units, Equity | — | — | — | — | — | — |
Ironhorse Purchaser, LLC | Services: Business | Senior Secured First Lien Debt, 09/30/2027 Maturity #3 | — | -$3.0K | — | — | — | 2027-09-30 |
Language Education Holdings GP LLC | Services: Business | Common Units., Equity | — | — | — | — | — | — |
Live Comfortably Inc. | Consumer Goods: Durable | Common Stock, Equity | — | — | — | — | — | — |
Metrc Inc. | High Tech Industries | Senior Secured First Lien Debt, 09/30/2027 Maturity | — | -$43.0K | — | — | — | 2027-09-30 |
Metrc Inc. | High Tech Industries | Senior Secured First Lien Debt, 09/30/2031 Maturity #2 | — | -$45.0K | — | — | — | 2031-09-30 |
New HW Holdings Corp. | Capital Equipment | Common Stock, Equity | — | — | — | — | — | — |
Online Pharmacy Holdings, LLC | Healthcare & Pharmaceuticals | Series D-1 Common Equity, Equity | — | — | — | — | — | — |
Optio Rx,LLC | Healthcare & Pharmaceuticals | Senior Secured First Lien Debt, 03/21/2030 Maturity #3 | — | — | — | — | — | 2030-03-21 |
Robert C. Hilliard | L.L.P. | Senior Secured First Lien Debt | — | — | — | 15.99% | — | — |
SHF Holdings, Inc. | Beverage, Food & Tobacco | Senior Secured First Lien Debt, 01/22/2030 Maturity #2 | — | — | — | — | — | 2030-01-22 |
Sleep Opco, LLC | Retail | Senior Secured First Lien Debt, 11/07/2030 Maturity #2 | — | — | — | — | — | 2030-11-07 |
Sopris Topco, LLC | Media: Diversified & Production | Equity | — | — | — | — | — | — |
Spinal USA, Inc. | Healthcare & Pharmaceuticals | / Precision Medical Inc, Senior Secured First Lien Debt, 05/29/2026 Maturity #8 | — | — | — | — | — | 2026-05-29 |
Stengel Hill Architecture, LLC | Construction & Building | Senior Secured First Lien Debt, 08/16/2028 Maturity #4 | — | — | — | — | — | 2028-08-16 |
TG Parent NewCo LLC | Consumer Goods: Non-Durable | Common Units, Equity | — | — | — | — | — | — |
TMK Hawk Parent, Corp. | Services: Business | Senior Secured First Lien Debt, 10/28/2026 Maturity | — | — | — | 0.00% | — | 2026-10-28 |
Tactical Air Support, Inc. | Aerospace & Defense | Senior Secured First Lien Debt, 12/22/2028 Maturity #4 | — | — | — | — | — | 2028-12-22 |
Disclosed holdings FV
$1.81B
Parsed holdings FV
$1.89B
Residual gap
-$75.55M
Balance-sheet cash
$8.16M
CIK
0001534254
Accession
0001534254-26-000003
Form type
10-K
Period
2025-12-31