TSLX
Sixth Street Specialty Lending
Portfolio Fair Value
$3.36B
214 holdings
Avg Spread
+6.42%
FV-weighted, debt
Avg Coupon
9.99%
FV-weighted
% First Lien
87.6%
of debt FV
Unrealized P/L
+$95.48M
+2.92% of cost
Non-Accrual
9
text-detected
Balance sheet
Assets$3.54B
Liabilities + Equity$3.54B
First Lien
$2.89B · 81.6%
First Lien
$2.89B · 81.6%
Second Lien
$23.27M · 0.7%
Subordinated
$58.0K · 0.0%
Other Debt
$124.65M · 3.5%
Equity
$262.34M · 7.4%
Cash & Equivalents
$193.56M · 5.5%
Other Assets
$47.50M · 1.3%
Debt (Borrowings)
$1.92B · 54.3%
Debt (Borrowings)
$1.92B · 54.3%
Other Liabilities
$69.67M · 2.0%
Net Assets (Equity)
$1.55B · 43.7%
Net Assets (Equity)
$1.55B · 43.7%
Industry Composition
Internet Services
18.7%
Business Services
11.1%
Retail and Consumer Products
10.7%
Hotel, Gaming and Leisure
10.5%
Healthcare
8.0%
Human Resource Support Services
7.8%
Transportation
7.7%
Education
3.2%
Pharmaceuticals
2.8%
Oil, Gas and Consumable Fuels
2.6%
Structured Credit Investments
2.6%
Other
2.5%
Other industries
11.9%
Spread Distribution
1.0%
4.0%
4.5%
5.0%
5.5%
6.0%
6.5%
7.0%
7.5%
8.0%
9.5%
15.0%
Schedule of Investments
All holdings
All holdings
Sortable, click headers to re-sort
214 of 214
| Issuer | Industry | Type | Fair Value | Cost | Unrealized | Coupon | Spread | Maturity |
|---|---|---|---|---|---|---|---|---|
EDB Parent, LLC | Internet Services | First-lien loan | $79.09M | $79.96M | -$868.0K | 9.41% | +5.75% | — |
ExtraHop Networks, Inc | Business Services | First-lien loan | $75.15M | $75.60M | -$448.0K | 10.32% | +6.65% | — |
PayScale Holdings, Inc. | Human Resource Support Services | First-lien loan | $73.04M | $74.39M | -$1.35M | 8.89% | +5.25% | — |
Blazing Star Parent, LLC | Retail and Consumer Products | First-lien loan | $68.52M | $67.81M | $705.0K | 10.67% | +7.00% | — |
Ranger Intermediate II, LLC | Transportation | First-lien loan | $67.98M | $68.25M | -$271.0K | 9.42% | +5.75% | — |
RainFocus, LLC | Internet Services | First-lien loan | $65.95M | $66.31M | -$366.0K | 9.62% | +5.88% | — |
Cordance Operations, LLC | Retail and Consumer Products | First-lien loan | $65.44M | $65.50M | -$61.0K | 11.79% | +8.15% | — |
Velocity Clinical Research, Inc. | Healthcare | First-lien loan | $63.68M | $63.68M | -$2.0K | 11.23% | +7.50% | — |
ASG II, LLC. | Hotel, Gaming and Leisure | First-lien loan | $62.73M | $64.40M | -$1.67M | 10.06% | +6.40% | — |
LeanTaaS Holdings, Inc. | Internet Services | First-lien loan | $62.72M | $63.51M | -$796.0K | 11.48% | +7.75% | — |
TRP Assets, LLC First-lien loan ($59,369 par, due 12/2029) Initial Acquisition Date 12/20/2024 Reference Rate and Spread SOFR + 7.00% Interest Rate 10.73% | Oil, Gas and Consumable Fuels | First-lien loan ($59,369 par, due 12/2029) | $60.41M | $58.49M | $1.92M | 10.73% | +7.00% | — |
IRGSE Holding Corp | Hotel, Gaming and Leisure | Equity Investments | $58.35M | — | — | — | — | — |
BCTO Ignition Purchaser, Inc | Business Services | First-lien holdco loan | $57.44M | $56.73M | $703.0K | — | +7.50% | — |
Crewline Buyer, Inc | Business Services | First-lien loan | $56.30M | $57.25M | -$952.0K | 10.41% | +6.75% | — |
Leg Purchaser, Inc. | Manufacturing | First-lien loan | $55.98M | $53.58M | $2.40M | 8.92% | +5.25% | — |
SMA Technologies Holdings, LLC | Internet Services | First-lien loan | $55.30M | $54.48M | $820.0K | 9.17% | +5.50% | — |
EMS Linq, Inc. | Education | First-lien loan | $54.25M | $55.88M | -$1.63M | 10.01% | — | — |
Structured Credit Partners JV, LLC | — | Equity Investments | $53.83M | — | — | — | — | — |
bswift, LLC | Human Resource Support Services | First-lien loan | $53.81M | $53.77M | $37.0K | 8.42% | +4.75% | — |
Project44, Inc | Transportation | First-lien loan | $53.19M | $53.94M | -$748.0K | 10.13% | +6.40% | — |
Equinox Holdings, Inc. | Hotel, Gaming and Leisure | First-lien loan | $52.88M | $51.57M | $1.31M | 10.98% | +7.25% | — |
HireVue, Inc. | Human Resource Support Services | First-lien loan | $51.23M | $55.91M | -$4.67M | 11.42% | +7.75% | — |
Tango Management Consulting, LLC | Retail and Consumer Products | First-lien loan | $50.84M | $51.51M | -$677.0K | 10.18% | +6.50% | — |
BCTO Ace Purchaser, Inc. | Healthcare | First-lien loan | $48.96M | $49.12M | -$151.0K | 9.66% | +6.00% | — |
and Consumer Photo Holdings, LLC | Retail | First-lien loan | $48.63M | $47.59M | $1.04M | 10.68% | +7.00% | — |
Neuintel, LLC | Retail and Consumer Products | First-lien loan | $47.37M | $53.24M | -$5.88M | 10.49% | +6.85% | — |
Big Wombat Holdings, Inc. | Internet Services | First-lien loan | $46.01M | $46.53M | -$516.0K | 10.73% | +7.00% | — |
Kaseware Intermediate Holding Company | Internet Services | First-lien loan | $45.77M | $46.23M | -$468.0K | 9.17% | +5.50% | — |
Elysium BidCo Limited First-lien loan (EUR 40,905 par, due 12/2030) Initial Acquisition Date 12/11/2024 Reference Rate and Spread E + 7.25% Interest Rate 9.54% | Pharmaceuticals | First-lien loan (EUR 40,905 par, due 12/2030) | $45.37M | $45.09M | $285.0K | 9.54% | +7.25% | — |
Coupa Holdings, LLC | Internet Services | First-lien loan | $45.03M | $45.58M | -$546.0K | 8.91% | +5.25% | — |
AVSC Holding Corp. | Hotel, Gaming and Leisure | First-lien loan | $44.71M | $43.87M | $848.0K | 8.64% | +5.00% | — |
Axonify, Inc. | Human Resource Support Services | First-lien loan | $44.13M | $44.63M | -$505.0K | 10.31% | +6.65% | — |
Belk, Inc. | Retail and Consumer Products | First-lien loan | $42.97M | $42.33M | $638.0K | 10.67% | +7.00% | — |
Sport Alliance GmbH | Hotel, Gaming and Leisure | First-lien loan | $42.87M | $43.02M | -$145.0K | 9.99% | +7.75% | — |
Marcura Equities LTD | Transportation | First-lien revolving loan | $42.31M | $41.83M | $474.0K | 11.98% | +8.25% | — |
Flight Intermediate HoldCo, Inc. | Internet Services | First-lien loan | $42.20M | $39.23M | $2.97M | 11.50% | — | — |
Bayshore Intermediate #2, L.P. | Internet Services | First-lien loan | $41.96M | $42.55M | -$594.0K | 9.17% | +5.50% | — |
Azurite Intermediate Holdings, Inc | Business Services | First-lien loan | $41.70M | $42.09M | -$393.0K | 9.64% | +6.00% | — |
Shiftmove GMBH | Transportation | First-lien loan | $41.03M | $40.09M | $941.0K | 8.29% | +6.00% | — |
Aurelia Netherlands B.V. | Communications | First-lien loan | $37.43M | $35.04M | $2.39M | 6.95% | +4.75% | — |
Artisan Bidco, Inc. | Business Services | First-lien loan | $37.28M | $37.77M | -$482.0K | 10.68% | +7.00% | — |
Arrow Buyer, Inc. | Internet Services | First-lien loan | $35.92M | $35.87M | $49.0K | 8.73% | +5.00% | — |
Ingenovis Health Finance, LLC. | Healthcare | First-lien revolving loan | $32.01M | $31.50M | $518.0K | 9.67% | +6.00% | — |
Lynx BidCo | Business Services | First-lien loan | $30.84M | $31.35M | -$509.0K | 8.54% | +6.25% | — |
Arrowhead Pharmaceuticals, Inc. First-lien loan ($26,906 par, due 8/2031) Initial Acquisition Date 8/7/2024 Reference Rate and Spread 15.00% Interest Rate 15.00% | Pharmaceuticals | First-lien loan ($26,906 par, due 8/2031) | $30.34M | $26.74M | $3.59M | 15.00% | — | — |
IRGSE Holding Corp. | Hotel, Gaming and Leisure | First-lien revolving loan | $30.19M | $32.71M | -$2.52M | 13.33% | +9.65% | — |
Kangaroo Bidco AS | Education | First-lien loan | $29.93M | $30.01M | -$89.0K | 9.66% | +6.00% | — |
Kahua, Inc. | Other | First-lien loan | $29.85M | $29.70M | $149.0K | 9.64% | +6.00% | — |
Hippo XPA Bidco AB | Internet Services | First-lien loan | $29.56M | $29.14M | $415.0K | 8.74% | +6.75% | — |
Eventus Buyer, LLC. | Healthcare | First-lien loan | $28.59M | $28.29M | $305.0K | 9.17% | +5.50% | — |
Mindbody, Inc. | Hotel, Gaming and Leisure | First-lien loan | $28.56M | $28.41M | $152.0K | 9.73% | +6.00% | — |
IRGSE Holding Corp. | Hotel, Gaming and Leisure | First-lien loan | $27.99M | $28.59M | -$603.0K | 13.38% | +9.65% | — |
Laramie Energy, LLC First-lien loan ($27,317 par, due 2/2027) Initial Acquisition Date 2/21/2023 Reference Rate and Spread SOFR + 7.10% Interest Rate 10.74% | Oil, Gas and Consumable Fuels | First-lien loan ($27,317 par, due 2/2027) | $27.45M | $27.23M | $224.0K | 10.74% | +7.10% | — |
Erling Lux Bidco SARL | Chemicals | First-lien loan | $26.23M | $23.71M | $2.51M | 10.73% | +7.00% | — |
Sapphire Software Buyer, Inc. | Electronics | First-lien loan | $26.00M | $26.60M | -$593.0K | 8.73% | +5.00% | — |
Rail Acquisitions LLC | Transportation | First-lien loan | $21.95M | $21.98M | -$34.0K | 9.67% | +6.00% | — |
Ibis US Blocker Co. | Financial Services | First-lien loan | $21.92M | $21.92M | -$2.0K | — | +9.60% | — |
Elysian Finco Ltd. | Human Resource Support Services | First-lien loan | $21.07M | $21.52M | -$445.0K | 9.03% | +5.40% | — |
Kryptona BidCo US, LLC | Internet Services | First-lien loan | $20.75M | $20.57M | $181.0K | 9.42% | +5.75% | — |
Rail Acquisitions LLC | Transportation | Second-lien note | $20.41M | $20.02M | $386.0K | 13.75% | — | — |
HMP Omnimedia, LLC | Healthcare | First-lien loan | $19.77M | $19.23M | $545.0K | 8.89% | +5.25% | — |
PDI TA Holdings, Inc. | Retail and Consumer Products | First-lien loan | $19.55M | $20.10M | -$552.0K | 9.66% | +6.00% | — |
Artisan Bidco, Inc. | Business Services | First-lien loan | $19.27M | $18.35M | $923.0K | 9.17% | +7.00% | — |
Bed Bath and Beyond Inc. Roll Up DIP term loan | Retail and Consumer Products | Roll Up DIP term loan ($23,769 par) | $18.24M | $23.77M | -$5.53M | 11.54% | +7.90% | — |
Raptor US Buyer II Corp. | Healthcare | First-lien loan | $17.81M | $17.58M | $230.0K | 9.89% | +6.25% | — |
Investments Healthcare Merative Topco L.P. Class A-1 Units (989,691 units) Initial | Healthcare | Equity | $17.49M | $9.90M | $7.60M | — | — | — |
American Achievement, Corp. | Retail and Consumer Products | First-lien loan | $17.20M | $25.74M | -$8.55M | 10.97% | +7.35% | — |
Aledade Inc. | Healthcare | First-lien revolving loan | $16.35M | $16.07M | $279.0K | 9.41% | +5.75% | — |
Boréal Bidco | Other | First-lien note | $15.75M | $14.79M | $955.0K | 9.29% | +7.00% | — |
Severin Acquisition, LLC | Education | First-lien loan | $15.64M | $16.15M | -$506.0K | 8.64% | +5.00% | — |
Varinem German BidCo GMBH | Manufacturing | First-lien loan | $14.59M | $13.71M | $880.0K | 7.63% | +5.50% | — |
Sediver S.p.A. | Other | First-lien note | $14.05M | $13.88M | $174.0K | 8.73% | +5.00% | — |
Elements Finco Limited | Business Services | First-lien loan | $14.04M | $13.29M | $756.0K | 9.23% | +5.50% | — |
Investments Internet Services Bayshore Intermediate #2, L.P. Co-Invest Common Units (8,837,008 units) Initial | Internet Services | Equity | $13.90M | $8.84M | $5.06M | — | — | — |
Consumable Fuels TRP Assets, LLC Partnership Interest (1.89% ownership) Initial Acquisition Date 8/25/2022 | Oil, Gas | Equity | $13.81M | $8.95M | $4.86M | — | — | — |
Acosta | Retail and Consumer Products | First-lien loan | $13.68M | $13.58M | $102.0K | 9.28% | +5.60% | — |
Erling Lux Bidco SARL | Chemicals | First-lien loan | $13.02M | $11.70M | $1.32M | 9.15% | +7.00% | — |
Elysium BidCo Limited First-lien loan (GBP 9,953 par, due 12/2030) Initial Acquisition Date 12/11/2024 Reference Rate and Spread S + 7.25% Interest Rate 10.98% | Pharmaceuticals | First-lien loan (GBP 9,953 par, due 12/2030) | $12.98M | $12.43M | $554.0K | 10.98% | +7.25% | — |
Omnigo Software, LLC | Other | First-lien loan | $12.76M | $12.99M | -$233.0K | 8.64% | +5.00% | — |
Investments Financial Services Newport Parent Holdings, L.P. Class A-2 Units (131,569 units) Initial | Financial Services | Equity | $11.89M | $4.18M | $7.72M | — | — | — |
Khoros, LLC | Internet Services | First-lien loan | $11.27M | $11.68M | -$409.0K | 10.00% | — | — |
Consumer Products Copper Bidco, LLC Trust Certificates (996,958 Certificates) Initial Acquisition Date 1/30/2021 | Retail | Equity | $10.74M | $1.08M | $9.65M | — | — | — |
Investments Healthcare Caris Life Sciences, Inc. Common Shares (589,933 shares) Initial | Healthcare | Equity | $10.51M | $6.82M | $3.69M | — | — | — |
USA DeBusk, LLC | Business Services | First-lien loan | $9.52M | $9.34M | $174.0K | 8.91% | +5.25% | — |
Rapid Data GmbH Unternehmensberatung | Retail and Consumer Products | First-lien loan | $8.44M | $8.15M | $290.0K | 8.70% | +6.50% | — |
USR Parent, Inc. | Office Products | ABL FILO term loan | $8.27M | $8.24M | $25.0K | 10.12% | +6.50% | — |
Investments Marketing Services Validity, Inc. Series A Preferred Shares (3,840,000 shares) Initial | Marketing Services | Equity | $8.26M | $3.84M | $4.42M | — | — | — |
Sediver S.p.A. | Other | First-lien note | $7.25M | $6.75M | $507.0K | 7.29% | +5.00% | — |
Investments Pharmaceuticals Elysium BidCo Limited Convertible Preference Shares (4,976,563 Shares) Initial | Pharmaceuticals | Equity | $6.90M | $6.34M | $561.0K | — | — | — |
LIHA Holdco B.V. | Healthcare | First-lien loan | $6.71M | $6.21M | $506.0K | 8.79% | +6.50% | — |
HireVue, Inc. | Human Resource Support Services | First-lien revolving loan | $6.28M | $6.86M | -$583.0K | 11.49% | +7.75% | — |
Wrangler TopCo, LLC | Business Services | First-lien loan | $5.92M | $5.86M | $67.0K | 9.17% | +5.50% | — |
Varinem German BidCo GMBH | Manufacturing | First-lien loan | $5.89M | $5.65M | $242.0K | 6.88% | +4.75% | — |
GreenShoot BidCo B.V | Financial Services | First-lien loan | $5.65M | $5.44M | $209.0K | 7.98% | +5.75% | — |
Kryptona BidCo US, LLC | Internet Services | First-lien loan | $5.50M | $5.02M | $477.0K | 8.06% | +5.75% | — |
Investments Internet Services Bayshore Intermediate #2, L.P. Co-Invest 2 Common Units (3,493,701 units) Initial | Internet Services | Equity | $5.49M | $3.49M | $2.00M | — | — | — |
Spread 14.50% Interest Rate 14.50% PIK | Transportation Ranger Parent I, Inc. Series A-1 Preferred Shares (5,639 Shares) Initial Acquisition Date 10/28/2025 Reference Rate | Equity | $5.15M | $5.36M | -$212.0K | 14.50% | — | — |
Investments Internet Services Khoros, LLC Earnout Interests Initial | Internet Services | Equity | $5.03M | $7.61M | -$2.59M | — | — | — |
Ben Nevis Midco Limited | Transportation | First-lien loan | $4.99M | $4.97M | $16.0K | 9.16% | +5.50% | — |
Arlberg Bidco LLC | Financial Services | First-lien loan | $4.94M | $4.91M | $29.0K | 9.40% | +5.75% | — |
Investments Financial Services AF Eagle Parent, L.P. Partnership Units (121,329 units) Initial | Financial Services | Equity | $4.91M | $4.09M | $818.0K | — | — | — |
Structured Credit Investments Goldentree Loan Management US CLO Ltd | Structured Credit Investments | Series 2022 -16A Structured Credit ($5,000 par, due 1/2038) Initial Acquisition Date 9/16/2025 Reference Rate and Spread SOFR + 4.50% Interest Rate 8.18% | $4.89M | $4.97M | -$89.0K | 8.18% | +4.50% | — |
Payroc Buyer, LLC | Financial Services | Promissory Note | $4.84M | $5.42M | -$583.0K | 5.50% | — | — |
Artisan Bidco, Inc. | Business Services | First-lien revolving loan | $4.53M | $4.61M | -$79.0K | 10.68% | +7.00% | — |
EMS Linq, Inc. | Education | First-lien revolving loan | $4.47M | $4.74M | -$264.0K | 10.01% | — | — |
Structured Credit Investments Madison Park Funding Ltd | Structured Credit Investments | Series 2025 -72A Structured Credit ($2,500 par, due 7/2038) Initial Acquisition Date 8/18/2025 Reference Rate and Spread SOFR + 5.25% Interest Rate 8.92% | $4.44M | $4.55M | -$109.0K | 8.92% | +5.25% | — |
Structured Credit Investments Lake George Park CLO Ltd | Structured Credit Investments | Series 2025 -1A Structured Credit ($4,500 par, due 4/2038) Initial Acquisition Date 8/27/2025 Reference Rate and Spread SOFR + 4.60% Interest Rate 8.27% | $4.33M | $4.50M | -$166.0K | 8.27% | +4.60% | — |
Structured Credit Investments Madison Park Funding Ltd | Structured Credit Investments | Series 2025 -65A Structured Credit ($4,400 par, due 7/2038) Initial Acquisition Date 8/19/2025 Reference Rate and Spread SOFR + 5.00% Interest Rate 8.68% | $4.29M | $4.41M | -$123.0K | 8.68% | +5.00% | — |
Structured Credit Investments Riverbank Park CLO Ltd | Structured Credit Investments | Series 2024 -1A Structured Credit ($4,500 par, due 1/2038) Initial Acquisition Date 7/29/2025 Reference Rate and Spread SOFR + 4.80% Interest Rate 8.47% | $4.17M | $4.53M | -$353.0K | 8.47% | +4.80% | — |
Investments Human Resource Support Services Employment Hero Holdings Pty Ltd. Series E Preferred Shares (113,250 shares) Initial | Human Resource Support Services | Equity | $4.14M | $2.13M | $2.00M | — | — | — |
Investments Business Services Insight Hideaway Aggregator, L.P. Partnership Interest (329,861 units) Initial | Business Services | Equity | $4.11M | $3.30M | $808.0K | — | — | — |
Structured Credit Investments CIFC Funding Ltd | Structured Credit Investments | Series 2020 -4A Structured Credit ($4,000 par, due 1/2040) Initial Acquisition Date 7/29/2025 Reference Rate and Spread SOFR + 4.90% Interest Rate 8.57% | $3.92M | $4.03M | -$105.0K | 8.57% | +4.90% | — |
Structured Credit Investments Palmer Square CLO Ltd | Structured Credit Investments | Series 2021 -4 Structured Credit ($4,000 par, due 7/2038) Initial Acquisition Date 9/16/2025 Reference Rate and Spread SOFR + 5.75% Interest Rate 9.42% | $3.88M | $4.04M | -$155.0K | 9.42% | +5.75% | — |
Structured Credit Investments Neuberger Berman CLO Ltd | Structured Credit Investments | Series 2017 -16SA Structured Credit ($4,000 par, due 4/2039) Initial Acquisition Date 7/28/2025 Reference Rate and Spread SOFR + 4.90% Interest Rate 8.57% | $3.85M | $4.01M | -$157.0K | 8.57% | +4.90% | — |
Structured Credit Investments Diameter Capital CLO Ltd | Structured Credit Investments | Series 2025 -9A Structured Credit ($3,500 par, due 4/2038) Initial Acquisition Date 9/2/2025 Reference Rate and Spread SOFR + 4.70% Interest Rate 8.38% | $3.44M | $3.53M | -$87.0K | 8.38% | +4.70% | — |
Structured Credit Investments Oaktree CLO Ltd | Structured Credit Investments | Series 2022 -2A Structured Credit ($3,500 par, due 10/2037) Initial Acquisition Date 7/17/2025 Reference Rate and Spread SOFR + 6.40% Interest Rate 10.07% | $3.38M | $3.54M | -$161.0K | 10.07% | +6.40% | — |
Investments Human Resource Support Services bswift, LLC Class A-1 Units (2,393,509 units) Initial | Human Resource Support Services | Equity | $3.36M | $2.39M | $970.0K | — | — | — |
Structured Credit Investments Ares CLO Ltd | Structured Credit Investments | Series 2024-72A Investment Structured Credit ($3,500 par, due 7/2036) Initial Acquisition Date 8/7/2025 Reference Rate and Spread SOFR + 6.00% Interest Rate 9.67% | $3.29M | $3.54M | -$255.0K | 9.67% | +6.00% | — |
Equinox Holdings, Inc. | Hotel, Gaming and Leisure | Second-lien loan | $3.27M | $2.95M | $319.0K | 16.00% | — | — |
Structured Credit Investments Carlyle US CLO Ltd | Structured Credit Investments | Series 2021 -1A Structured Credit ($3,225 par, due 1/2040) Initial Acquisition Date 8/7/2025 Reference Rate and Spread SOFR + 7.30% Interest Rate 10.97% | $3.23M | $3.32M | -$94.0K | 10.97% | +7.30% | — |
Leg Purchaser, Inc. | Manufacturing | First-lien revolving loan | $3.18M | $3.10M | $75.0K | 11.00% | +4.25% | — |
Volante Technologies, Inc. | Financial Services | First-lien loan | $3.16M | $3.02M | $139.0K | 16.50% | — | — |
Investments Internet Services Bigtincan Holdings L.P. Class A Units (2,902,890 Units) Initial | Internet Services | Equity | $3.02M | $3.02M | $0.00 | — | — | — |
Structured Credit Investments Octagon 67 Ltd | Structured Credit Investments | Series 2023 -1A Structured Credit ($3,000 par, due 7/2038) Initial Acquisition Date 9/4/2025 Reference Rate and Spread SOFR + 7.41% Interest Rate 11.08% | $3.01M | $3.10M | -$91.0K | 11.08% | +7.41% | — |
Structured Credit Investments Goldentree Loan Management US CLO Ltd | Structured Credit Investments | Series 2023 -17A Structured Credit ($3,000 par, due 1/2039) Initial Acquisition Date 7/16/2025 Reference Rate and Spread SOFR + 5.40% Interest Rate 9.08% | $3.00M | $3.02M | -$18.0K | 9.08% | +5.40% | — |
Hippo XPA Bidco AB | Internet Services | First-lien loan | $2.99M | $2.81M | $178.0K | 9.04% | +6.75% | — |
Bed Bath and Beyond Inc. | Retail and Consumer Products | ABL FILO term loan | $2.99M | $3.86M | -$867.0K | 13.54% | +9.90% | — |
Structured Credit Investments CIFC Funding Ltd | Structured Credit Investments | Series 2022 -4A Structured Credit ($3,000 par, due 7/2035) Initial Acquisition Date 8/27/2025 Reference Rate and Spread SOFR + 4.80% Interest Rate 8.48% | $2.92M | $3.01M | -$87.0K | 8.48% | +4.80% | — |
Structured Credit Investments Pikes Peak CLO Ltd | Structured Credit Investments | Series 2023 -14A Structured Credit ($3,000 par, due 7/2038) Initial Acquisition Date 7/30/2025 Reference Rate and Spread SOFR + 6.00% Interest Rate 9.68% | $2.87M | $3.06M | -$200.0K | 9.68% | +6.00% | — |
Scorpio Bidco | Other | First-lien loan | $2.85M | $2.69M | $157.0K | 8.04% | +5.75% | — |
Structured Credit Investments CarVal CLO Ltd | Structured Credit Investments | Series 2023 -1A Structured Credit ($3,000 par, due 7/2037) Initial Acquisition Date 8/13/2025 Reference Rate and Spread SOFR + 6.35% Interest Rate 10.03% | $2.85M | $3.03M | -$184.0K | 10.03% | +6.35% | — |
Structured Credit Investments CIFC Funding Ltd | Structured Credit Investments | Series 2021 -7A Structured Credit ($2,800 par, due 1/2035) Initial Acquisition Date 9/8/2025 Reference Rate and Spread SOFR + 4.90% Interest Rate 8.57% | $2.73M | $2.81M | -$74.0K | 8.57% | +4.90% | — |
Investments Transportation RailTrac Holdings Inc. Warrants (3,059 warrants) Initial | Transportation | Equity | $2.72M | $2.72M | $0.00 | — | — | — |
Bed Bath and Beyond Inc. Super-Priority DIP term loan | Retail and Consumer Products | Super-Priority DIP term loan ($3,204 par) | $2.46M | $3.20M | -$745.0K | 11.54% | +7.90% | — |
Structured Credit Investments Carlyle US CLO Ltd | Structured Credit Investments | Series 2017 -2A Investment Structured Credit ($2,500 par, due 7/2037) Initial Acquisition Date 9/3/2025 Reference Rate and Spread SOFR + 7.56% Interest Rate 11.24% | $2.45M | $2.54M | -$96.0K | 11.24% | +7.56% | — |
Investments Internet Services Piano Software, Inc. Series C-1 Preferred Shares (418,527 shares) Initial | Internet Services | Equity | $2.36M | $3.00M | -$638.0K | — | — | — |
Investments Internet Services SMA Technologies Holdings, LLC Class A Units (1,584 units) Initial | Internet Services | Equity | $2.34M | $1.58M | $756.0K | — | — | — |
Passport Labs, Inc. | Financial Services | Convertible Promissory Note A | $2.29M | $1.09M | $1.20M | 8.00% | — | — |
Elements Finco Limited | Business Services | First-lien loan | $2.26M | $2.28M | -$21.0K | 8.89% | +5.25% | — |
Structured Credit Investments Ares CLO Ltd | Structured Credit Investments | Series 2022-63A Investment Structured Credit ($2,500 par, due 10/2038) Initial Acquisition Date 8/7/2025 Reference Rate and Spread SOFR + 6.00% Interest Rate 9.67% | $2.22M | $2.52M | -$299.0K | 9.67% | +6.00% | — |
Investments Healthcare Raptor US Buyer II Corp. Ordinary Shares (13,176 shares) Initial | Healthcare | Equity | $2.19M | $2.03M | $152.0K | — | — | — |
Structured Credit Investments Palmer Square CLO Ltd | Structured Credit Investments | Series 2025 -1A Structured Credit ($2,250 par, due 4/2038) Initial Acquisition Date 8/21/2025 Reference Rate and Spread SOFR + 4.50% Interest Rate 8.18% | $2.17M | $2.25M | -$86.0K | 8.18% | +4.50% | — |
Investments Human Resource Support Services Axonify, Inc. Class A-1 Units (3,780,000 units) Initial | Human Resource Support Services | Equity | $2.15M | $3.78M | -$1.63M | — | — | — |
Structured Credit Investments Texas Debt Capital CLO Ltd | Structured Credit Investments | Series 2023 -1A Structured Credit ($2,000 par, due 7/2038) Initial Acquisition Date 8/12/2025 Reference Rate and Spread SOFR + 4.95% Interest Rate 8.63% | $1.99M | $2.02M | -$28.0K | 8.63% | +4.95% | — |
Structured Credit Investments Neuberger Berman Loan Advisers CLO Ltd | Structured Credit Investments | Series 2019 -33A Structured Credit ($2,000 par, due 4/2039) Initial Acquisition Date 9/9/2025 Reference Rate and Spread SOFR + 5.50% Interest Rate 9.18% | $1.98M | $2.03M | -$52.0K | 9.18% | +5.50% | — |
Structured Credit Investments Ares CLO Ltd | Structured Credit Investments | Series 2022-64A Investment Structured Credit ($2,000 par, due 10/2039) Initial Acquisition Date 9/4/2025 Reference Rate and Spread SOFR + 6.50% Interest Rate 10.17% | $1.92M | $2.04M | -$125.0K | 10.17% | +6.50% | — |
Coupa Holdings, LLC | Internet Services | First-lien revolving loan | $1.90M | $1.94M | -$41.0K | 8.90% | +5.25% | — |
Eventus Buyer, LLC. | Healthcare | First-lien revolving loan | $1.87M | $1.83M | $38.0K | 9.17% | +5.50% | — |
Elements Finco Limited | Business Services | First-lien loan | $1.82M | $1.84M | -$26.0K | 8.64% | +5.00% | — |
Investments Human Resource Support Services DaySmart Holdings, LLC Class A Units (166,811 units) Initial | Human Resource Support Services | Equity | $1.75M | $1.35M | $401.0K | — | — | — |
Bayshore Intermediate #2, L.P. | Internet Services | First-lien revolving loan | $1.70M | $1.76M | -$62.0K | 8.68% | +5.00% | — |
Structured Credit Investments Benefit Street Partners CLO Ltd | Structured Credit Investments | Series 2025-39A Investment Structured Credit ($1,725 par, due 4/2038) Initial Acquisition Date 7/16/2025 Reference Rate and Spread SOFR + 4.50% Interest Rate 8.17% | $1.67M | $1.73M | -$56.0K | 8.17% | +4.50% | — |
Marcura Equities LTD | Transportation | First-lien revolving loan | $1.66M | $1.62M | $34.0K | 11.23% | +7.50% | — |
Elysian Finco Ltd. | Human Resource Support Services | First-lien revolving loan | $1.64M | $1.68M | -$41.0K | 7.98% | +4.25% | — |
Investments Business Services Artisan Topco LP Class A Preferred Units (2,117,264 units) Initial | Business Services | Equity | $1.64M | $2.12M | -$481.0K | — | — | — |
ASP Unifrax Holdings, Inc. | Manufacturing | First-lien loan | $1.59M | $3.58M | -$1.99M | 11.41% | +7.75% | — |
PDI TA Holdings, Inc. | Retail and Consumer Products | First-lien revolving loan | $1.58M | $1.62M | -$46.0K | 9.17% | +5.50% | — |
Lynx BidCo | Business Services | First-lien loan | $1.53M | $1.52M | $9.0K | 9.98% | +6.25% | — |
Investments Business Services Newark FP Co-Invest, L.P. Partnership (2,527,719 units) Initial | Business Services | Equity | $1.50M | $2.53M | -$1.03M | — | — | — |
Structured Credit Investments Whitebox CLO Ltd | Structured Credit Investments | Series 2023 -4A Structured Credit ($1,500 par, due 4/2036) Initial Acquisition Date 8/20/2025 Reference Rate and Spread SOFR + 6.48% Interest Rate 10.16% | $1.50M | $1.53M | -$27.0K | 10.16% | +6.48% | — |
Marcura Equities LTD | Transportation | First-lien loan | $1.50M | $1.41M | $87.0K | 11.98% | +8.25% | — |
Investments Business Services Sprinklr, Inc. Common Shares (283,499 shares) Initial | Business Services | Equity | $1.46M | $2.44M | -$982.0K | — | — | — |
Investments Business Services Mitnick TA Aggregator, L.P. Membership Interest (0.43% ownership) Initial | Business Services | Equity | $1.44M | $5.25M | -$3.81M | — | — | — |
Investments Communications Celtra Technologies, Inc. Class A Units (1,250,000 units) Initial | Communications | Equity | $1.39M | $1.25M | $138.0K | — | — | — |
Structured Credit Investments Oha Credit Funding Ltd | Structured Credit Investments | Series 2025 -22A Structured Credit ($1,250 par, due 7/2038) Initial Acquisition Date 7/24/2025 Reference Rate and Spread SOFR + 5.55% Interest Rate 9.23% | $1.25M | $1.27M | -$25.0K | 9.23% | +5.55% | — |
Ibis Intermediate Co. | Financial Services | First-lien loan | $1.16M | $1.15M | $13.0K | 8.32% | +4.65% | — |
Investments Financial Services Passport Labs, Inc. Warrants (17,534 warrants) Initial | Financial Services | Equity | $1.14M | $192.0K | $948.0K | — | — | — |
Structured Credit Investments Canyon CLO Ltd | Structured Credit Investments | Series 2025 -1A Structured Credit ($1,125 par, due 4/2038) Initial Acquisition Date 7/28/2025 Reference Rate and Spread SOFR + 4.75% Interest Rate 8.42% | $1.10M | $1.12M | -$14.0K | 8.42% | +4.75% | — |
ExtraHop Networks, Inc | Business Services | First-lien revolving loan | $1.10M | $1.11M | -$4.0K | 10.34% | +6.65% | — |
Structured Credit Investments Neuberger Berman CLO Ltd | Structured Credit Investments | Series 2015 -20A Structured Credit ($1,150 par, due 4/2039) Initial Acquisition Date 7/28/2025 Reference Rate and Spread SOFR + 4.75% Interest Rate 8.42% | $1.10M | $1.15M | -$50.0K | 8.42% | +4.75% | — |
USA DeBusk, LLC | Business Services | First-lien revolving loan | $1.08M | $1.06M | $24.0K | 8.91% | +5.25% | — |
Price Fx Inc | Business Services | First-lien loan | $1.05M | $972.0K | $74.0K | 9.17% | +7.00% | — |
Price Fx Inc | Business Services | First-lien loan | $1.05M | $929.0K | $117.0K | 8.42% | +6.25% | — |
Structured Credit Investments Neuberger Berman Loan Advisers CLO Ltd | Structured Credit Investments | Series 2017 -24A Structured Credit ($1,000 par, due 10/2038) Initial Acquisition Date 8/25/2025 Reference Rate and Spread SOFR + 7.00% Interest Rate 10.68% | $1.00M | $1.02M | -$23.0K | 10.68% | +7.00% | — |
Structured Credit Investments Regatta Funding Ltd | Structured Credit Investments | Series 2020 -1A Structured Credit ($1,000 par, due 10/2037) Initial Acquisition Date 7/17/2025 Reference Rate and Spread SOFR + 6.50% Interest Rate 10.17% | $981.0K | $1.02M | -$37.0K | 10.17% | +6.50% | — |
Structured Credit Investments RR Ltd | Structured Credit Investments | Series 2021 -19A Structured Credit ($1,000 par, due 4/2040) Initial Acquisition Date 7/17/2025 Reference Rate and Spread SOFR + 4.70% Interest Rate 8.37% | $980.0K | $999.0K | -$19.0K | 8.37% | +4.70% | — |
Structured Credit Investments Neuberger Berman Loan Advisers CLO Ltd | Structured Credit Investments | Series 2021 -44A Structured Credit ($1,000 par, due 10/2035) Initial Acquisition Date 8/15/2025 Reference Rate and Spread SOFR + 5.15% Interest Rate 8.83% | $977.0K | $1.01M | -$29.0K | 8.83% | +5.15% | — |
Cirrus (BidCo) Limited | Real Estate | First-lien loan | $936.0K | $885.0K | $51.0K | 9.48% | +5.75% | — |
Severin Acquisition, LLC | Education | First-lien revolving loan | $893.0K | $931.0K | -$38.0K | 8.39% | +4.75% | — |
Erling Lux Bidco SARL | Chemicals | First-lien revolving loan | $834.0K | $791.0K | $43.0K | 10.73% | +7.00% | — |
Alaska Bidco Oy | Financial Services | First-lien loan | $831.0K | $768.0K | $63.0K | 8.00% | +5.75% | — |
Erling Lux Bidco SARL | Chemicals | First-lien loan | $743.0K | $713.0K | $30.0K | 11.47% | +7.00% | — |
Investments Business Services Warrior TopCo LP Class A Units (423,729 units) Initial | Business Services | Equity | $693.0K | $424.0K | $269.0K | — | — | — |
Investments Education EMS Linq, Inc. Class B Units (5,522,526 units) Initial | Education | Equity | $677.0K | $5.52M | -$4.85M | — | — | — |
Investments Financial Services TS Imagine, Inc. Class A Units (600,000 units) Initial | Financial Services | Equity | $611.0K | $600.0K | $11.0K | — | — | — |
AVSC Holding Corp. | Hotel, Gaming and Leisure | First-lien revolving loan | $592.0K | $514.0K | $78.0K | 8.62% | +5.00% | — |
Velocity Clinical Research, Inc. | Healthcare | First-lien revolving loan | $481.0K | $474.0K | $7.0K | 11.23% | +7.50% | — |
Symplr Software Inc. | Healthcare | First-lien loan | $413.0K | $567.0K | -$154.0K | 8.26% | +4.60% | — |
Hippo XPA Bidco AB | Internet Services | First-lien revolving loan | $404.0K | $386.0K | $18.0K | 8.24% | +6.25% | — |
Investments Internet Services Lucidworks, Inc. Series F Preferred Shares (199,054 shares) Initial | Internet Services | Equity | $398.0K | $800.0K | -$402.0K | — | — | — |
LIHA Holdco B.V. | Healthcare | First-lien revolving loan | $363.0K | $364.0K | -$1.0K | 8.79% | +6.50% | — |
Rapid Data GmbH Unternehmensberatung | Retail and Consumer Products | First-lien revolving loan | $360.0K | $375.0K | -$15.0K | 8.70% | +6.50% | — |
Investments Transportation Ranger Parent I, Inc. Warrants (3,841 warrants) Initial | Transportation | Equity | $312.0K | $312.0K | $0.00 | — | — | — |
Investments Internet Services Piano Software, Inc. Series C-2 Preferred Shares (27,588 shares) Initial | Internet Services | Equity | $311.0K | $198.0K | $113.0K | — | — | — |
Investments Communications IntelePeer Holdings, Inc. Series D Preferred Shares (1,598,874 shares) Initial | Communications | Equity | $241.0K | $2.92M | -$2.68M | — | — | — |
Sport Alliance GmbH | Hotel, Gaming and Leisure | First-lien revolving loan | $238.0K | $214.0K | $24.0K | 9.54% | +7.25% | — |
Investments Communications IntelePeer Holdings, Inc. Series C Preferred Shares (1,816,295 shares) Initial | Communications | Equity | $222.0K | $1.82M | -$1.59M | — | — | — |
Kaseware Intermediate Holding Company | Internet Services | First-lien revolving loan | $213.0K | $242.0K | -$29.0K | 9.15% | +5.50% | — |
Leisure IRGSE Holding Corp. Class A Units (50,140,171 units) Initial Acquisition Date 12/21/2018 | Hotel, Gaming | Equity | $125.0K | $21.88M | -$21.76M | — | — | — |
Investments Business Services Dye & Durham, Ltd. Common Shares (126,968 shares) Initial | Business Services | Equity | $124.0K | $3.91M | -$3.79M | — | — | — |
Mitnick Corporate Purchaser, Inc | Business Services | First-lien loan | $112.0K | $321.0K | -$209.0K | 8.51% | +4.75% | — |
Investments Internet Services SMA Technologies Holdings, LLC Class B Units (1,124,813 units) Initial | Internet Services | Equity | $101.0K | $68.0K | $33.0K | — | — | — |
American Achievement, Corp. | Retail and Consumer Products | First-lien loan | $99.0K | $1.32M | -$1.22M | 18.72% | +15.10% | — |
Raptor US Buyer II Corp. | Healthcare | First-lien revolving loan | $80.0K | $77.0K | $3.0K | 9.89% | +6.25% | — |
Cirrus (BidCo) Limited | Real Estate | First-lien loan | $77.0K | $74.0K | $3.0K | 8.98% | +5.25% | — |
Consumer Products Neuintel, LLC Class A Units (1,176,494 units) Initial Acquisition Date 12/20/2021 | Retail | Equity | $60.0K | $3.00M | -$2.94M | — | — | — |
American Achievement, Corp. | Retail and Consumer Products | Subordinated note | $59.0K | $545.0K | -$486.0K | 4.88% | +1.15% | — |
Consumer Products American Achievement, Corp. Class A Units (687 units) Initial Acquisition Date 3/16/2021 | Retail | Equity | $50.0K | — | — | — | — | — |
Spread 20.00% Interest Rate 20.00% | Financial Services TS Imagine, Inc. Class AA Units (19,093 units) Initial Acquisition Date 11/1/2024 Reference Rate | Equity | $45.0K | $46.0K | -$1.0K | 20.00% | — | — |
Leisure IRGSE Holding Corp. Class C-1 Units (8,800,000 units) Initial Acquisition Date 12/21/2018 | Hotel, Gaming | Equity | $43.0K | $100.0K | -$57.0K | — | — | — |
ASP Unifrax Holdings, Inc. | Manufacturing | Second-lien note | $10.0K | $1.53M | -$1.52M | 7.10% | — | — |
Investments Pharmaceuticals TherapeuticsMD, Inc. Warrants (14,256 warrants) Initial | Pharmaceuticals | Equity | $0.00 | $1.03M | -$1.03M | — | — | — |
Consumable Fuels Murchison Oil | Oil, Gas | Gas, LLC Preferred Units (13,355 units) Initial Acquisition Date 6/30/2022 | — | — | — | — | — | — |
Investments Communications IntelePeer Holdings, Inc. Series D Warrants (106,592 warrants) Initial | Communications | Equity | — | — | — | — | — | — |
Disclosed holdings FV
$3.30B
Parsed holdings FV
$3.36B
Residual gap
-$58.35M
Balance-sheet cash
$193.56M
CIK
0001508655
Accession
0001193125-26-332725
Form type
10-Q
Period
2026-06-30