UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

Form 10-Q

(Mark One)

þ	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
	OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended December 31, 2021

OR

o	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
	OF THE SECURITIES EXCHANGE ACT OF 1934

COMMISSION FILE NUMBER: 1-33901

Oaktree Specialty Lending Corporation

(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

DELAWARE (State or jurisdiction of incorporation or organization)	26-1219283 (I.R.S. Employer Identification No.)
333 South Grand Avenue, 28th Floor Los Angeles, CA (Address of principal executive office)	90071 (Zip Code)

REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE:

(213) 830-6300

SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:

Title of Each Class	Trading Symbol(s)	Name of Each Exchange on Which Registered
Common Stock, par value $0.01 per share	OCSL	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    YES   þ     NO   ¨

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    YES   ¨   NO   ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer  þ	Accelerated filer  ¨	Non-accelerated filer  ¨	Smaller reporting company  ¨
Emerging growth company  ¨	If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)    YES  ¨     NO  þ

The registrant had 180,468,633 shares of common stock outstanding as of February 1, 2022.

OAKTREE SPECIALTY LENDING CORPORATION

FORM 10-Q FOR THE QUARTER ENDED DECEMBER 31, 2021

TABLE OF CONTENTS

		PART I — FINANCIAL INFORMATION
Item 1.	Consolidated Financial Statements:
		Consolidated Statements of Assets and Liabilities as of December 31, 2021 (unaudited) and September 30, 2021	2
		Consolidated Statements of Operations (unaudited) for the three months ended December 31, 2021 and 2020	3
		Consolidated Statements of Changes in Net Assets (unaudited) for the three months ended December 31, 2021 and 2020	4
		Consolidated Statements of Cash Flows (unaudited) for the three months ended December 31, 2021 and 2020	5
		Consolidated Schedule of Investments (unaudited) as of December 31, 2021	6
		Consolidated Schedule of Investments as of September 30, 2021	19
		Notes to Consolidated Financial Statements (unaudited)	31
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations		81
Item 3.	Quantitative and Qualitative Disclosures about Market Risk		98
Item 4.	Controls and Procedures		100
		PART II — OTHER INFORMATION
Item 1.	Legal Proceedings		100
Item 1A.	Risk Factors		100
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds		100
Item 3.	Defaults Upon Senior Securities		100
Item 4.	Mine Safety Disclosures		100
Item 5.	Other Information		100
Item 6.	Exhibits		101
Signatures			101

1

PART I — FINANCIAL INFORMATION

Item 1. Consolidated Financial Statements.

Oaktree Specialty Lending Corporation

Consolidated Statements of Assets and Liabilities

(in thousands, except per share amounts)

	December 31, 2021 (unaudited)		September 30, 2021
ASSETS
Investments at fair value:
Control investments (cost December 31, 2021: $272,970; cost September 30, 2021: $283,599)	$	259,469	$	270,765
Affiliate investments (cost December 31, 2021: $18,845; cost September 30, 2021: $18,763)	18,120		18,289
Non-control/Non-affiliate investments (cost December 31, 2021: $2,283,055; cost September 30, 2021: $2,236,759)	2,311,034		2,267,575
Total investments at fair value (cost December 31, 2021: $2,574,870; cost September 30, 2021: $2,539,121)	2,588,623		2,556,629
Cash and cash equivalents	43,765		29,334
Restricted cash	2,292		2,301
Interest, dividends and fees receivable	18,508		22,125
Due from portfolio companies	2,793		1,990
Receivables from unsettled transactions	25,823		8,150
Due from broker	3,450		1,640
Deferred financing costs	9,055		9,274
Deferred offering costs	34		34
Deferred tax asset, net	1,673		714
Derivative assets at fair value	1,075		1,912
Other assets	2,848		2,284
Total assets	$	2,699,939	$	2,636,387
LIABILITIES AND NET ASSETS
Liabilities:
Accounts payable, accrued expenses and other liabilities	$	6,169	$	3,024
Base management fee and incentive fee payable	26,190		32,649
Due to affiliate	3,503		4,357
Interest payable	6,698		4,597
Director fees payable	123		—
Payables from unsettled transactions	40,803		8,086
Derivative liability at fair value	5,931		2,108
Credit facilities payable	650,000		630,000
Unsecured notes payable (net of $6,131 and $6,501 of unamortized financing costs as of December 31, 2021 and September 30, 2021, respectively)	635,461		638,743
Total liabilities	1,374,878		1,323,564
Commitments and contingencies (Note 13)
Net assets:
Common stock, $0.01 par value per share, 250,000 shares authorized; 180,469 and 180,361 shares issued and outstanding as of December 31, 2021 and September 30, 2021, respectively	1,805		1,804
Additional paid-in-capital	1,805,139		1,804,354
Accumulated overdistributed earnings	(481,883)		(493,335)
Total net assets (equivalent to $7.34 and $7.28 per common share as of December 31, 2021 and September 30, 2021, respectively) (Note 11)	1,325,061		1,312,823
Total liabilities and net assets	$	2,699,939	$	2,636,387

See notes to Consolidated Financial Statements.

2

Oaktree Specialty Lending Corporation

Consolidated Statements of Operations

(in thousands, except per share amounts)

(unaudited)

	Three months ended December 31, 2021		Three months ended December 31, 2020
Interest income:
Control investments	$	3,480	$	2,343
Affiliate investments	334		105
Non-control/Non-affiliate investments	51,635		29,184
Interest on cash and cash equivalents	1		1
Total interest income	55,450		31,633
PIK interest income:
Non-control/Non-affiliate investments	4,663		3,089
Total PIK interest income	4,663		3,089
Fee income:
Control investments	13		15
Affiliate investments	5		5
Non-control/Non-affiliate investments	894		3,332
Total fee income	912		3,352
Dividend income:
Control investments	3,916		130
Total dividend income	3,916		130
Total investment income	64,941		38,204
Expenses:
Base management fee	9,952		6,541
Part I incentive fee	6,457		4,149
Part II incentive fee	1,751		9,540
Professional fees	1,322		867
Directors fees	123		143
Interest expense	9,400		6,095
Administrator expense	390		333
General and administrative expenses	693		518
Total expenses	30,088		28,186
Fees waived	(750)		—
Net expenses	29,338		28,186
Net investment income before taxes	35,603		10,018
(Provision) benefit for taxes on net investment income	(3,308)		—
Net investment income	32,295		10,018
Unrealized appreciation (depreciation):
Control investments	(667)		8,335
Affiliate investments	(251)		(290)
Non-control/Non-affiliate investments	(2,831)		41,937
Foreign currency forward contracts	(837)		(2,426)
Net unrealized appreciation (depreciation)	(4,586)		47,556
Realized gains (losses):
Control investments	1,868		—
Non-control/Non-affiliate investments	4,481		8,738
Foreign currency forward contracts	2,972		(523)
Net realized gains (losses)	9,321		8,215
(Provision) benefit for taxes on realized and unrealized gains (losses)	2,378		(245)
Net realized and unrealized gains (losses), net of taxes	7,113		55,526
Net increase (decrease) in net assets resulting from operations	$	39,408	$	65,544
Net investment income per common share — basic and diluted	$	0.18	$	0.07
Earnings (loss) per common share — basic and diluted (Note 5)	$	0.22	$	0.46
Weighted average common shares outstanding — basic and diluted	180,381		140,961

See notes to Consolidated Financial Statements.

3

Oaktree Specialty Lending Corporation

Consolidated Statements of Changes in Net Assets

(in thousands, except per share amounts)

(unaudited)

	Three months ended December 31, 2021		Three months ended December 31, 2020
Operations:
Net investment income	$	32,295	$	10,018
Net unrealized appreciation (depreciation)	(4,586)		47,556
Net realized gains (losses)	9,321		8,215
(Provision) benefit for taxes on realized and unrealized gains (losses)	2,378		(245)
Net increase (decrease) in net assets resulting from operations	39,408		65,544
Stockholder transactions:
Distributions to stockholders	(27,956)		(15,506)
Net increase (decrease) in net assets from stockholder transactions	(27,956)		(15,506)
Capital share transactions:
Issuance of common stock under dividend reinvestment plan	786		528
Repurchases of common stock under dividend reinvestment plan	—		(528)
Net increase (decrease) in net assets from capital share transactions	786		—
Total increase (decrease) in net assets	12,238		50,038
Net assets at beginning of period	1,312,823		914,879
Net assets at end of period	$	1,325,061	$	964,917
Net asset value per common share	$	7.34	$	6.85
Common shares outstanding at end of period	180,469		140,961

See notes to Consolidated Financial Statements.

4

Oaktree Specialty Lending Corporation

Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

	Three months ended December 31, 2021		Three months ended December 31, 2020
Operating activities:
Net increase (decrease) in net assets resulting from operations	$	39,408	$	65,544
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:
Net unrealized (appreciation) depreciation	4,586		(47,556)
Net realized (gains) losses	(9,321)		(8,215)
PIK interest income	(4,663)		(3,089)
Accretion of original issue discount on investments	(7,076)		(3,143)
Accretion of original issue discount on unsecured notes payable	170		127
Amortization of deferred financing costs	924		636
Deferred taxes	(959)		(275)
Purchases of investments	(246,623)		(243,741)
Proceeds from the sales and repayments of investments	235,020		169,821
Changes in operating assets and liabilities:
(Increase) decrease in interest, dividends and fees receivable	1,796		(1,848)
(Increase) decrease in due from portfolio companies	(803)		632
(Increase) decrease in receivables from unsettled transactions	(17,673)		(1,931)
(Increase) decrease in due from broker	(1,810)		—
(Increase) decrease in other assets	(564)		(26,272)
Increase (decrease) in accounts payable, accrued expenses and other liabilities	3,145		1,314
Increase (decrease) in base management fee and incentive fee payable	(6,459)		9,018
Increase (decrease) in due to affiliate	(854)		225
Increase (decrease) in interest payable	2,101		2,566
Increase (decrease) in payables from unsettled transactions	32,717		102,259
Increase (decrease) in director fees payable	123		—
Net cash provided by (used in) operating activities	23,185		16,072
Financing activities:
Distributions paid in cash	(27,170)		(14,978)
Borrowings under credit facilities	70,000		—
Repayments of borrowings under credit facilities	(50,000)		(14,800)
Repurchases of common stock under dividend reinvestment plan	—		(528)
Deferred financing costs paid	(334)		(288)
Net cash provided by (used in) financing activities	(7,504)		(30,594)
Effect of exchange rate changes on foreign currency	(1,259)		(340)
Net increase (decrease) in cash and cash equivalents and restricted cash	14,422		(14,862)
Cash and cash equivalents and restricted cash, beginning of period	31,635		39,096
Cash and cash equivalents and restricted cash, end of period	$	46,057	$	24,234
Supplemental information:
Cash paid for interest	$	6,205	$	2,766
Non-cash financing activities:
Issuance of shares of common stock under dividend reinvestment plan	$	786	$	528
Deferred financing costs	—		(57)
Reconciliation to the Consolidated Statements of Assets and Liabilities	December 31, 2021		September 30, 2021
Cash and cash equivalents	$	43,765	$	29,334
Restricted cash	2,292		2,301
Total cash and cash equivalents and restricted cash	$	46,057	$	31,635

See notes to Consolidated Financial Statements.

5

Oaktree Specialty Lending Corporation

Consolidated Schedule of Investments

December 31, 2021

(dollar amounts in thousands)

(unaudited)

Portfolio Company/Type of Investment (1)(2)(3)(4)(5)	Cash Interest Rate (6)		Industry	Principal (7)		Cost		Fair Value		Notes
Control Investments										(8)(9)
C5 Technology Holdings, LLC			Data Processing & Outsourced Services
829 Common Units						$	—	$	—	(15)
34,984,460.37 Preferred Units						34,984		27,638		(15)
						34,984		27,638
Dominion Diagnostics, LLC			Health Care Services
First Lien Term Loan, LIBOR+5.00% cash due 2/28/2024	6.00	%		$	23,201	23,201		23,201		(6)(15)
First Lien Revolver, LIBOR+5.00% cash due 2/28/2024				—		—		—		(6)(15)(19)
30,030.8 Common Units in DD Healthcare Services Holdings, LLC						18,625		18,065		(12)(15)
						41,826		41,266
OCSI Glick JV LLC			Multi-Sector Holdings							(14)
Subordinated Debt, LIBOR+4.50% cash due 10/20/2028	4.58	%		61,237		50,588		55,854		(6)(11)(15)(19)
87.5% equity interest						—		—		(11)(16)(19)
						50,588		55,854
Senior Loan Fund JV I, LLC			Multi-Sector Holdings							(14)
Subordinated Debt, LIBOR+7.00% cash due 12/29/2028	8.00	%		96,250		96,250		96,250		(6)(11)(15)(19)
87.5% LLC equity interest						49,322		38,461		(11)(12)(16)(19)
						145,572		134,711
Total Control Investments (19.6% of net assets)						$	272,970	$	259,469
Affiliate Investments										(17)
Assembled Brands Capital LLC			Specialized Finance
First Lien Revolver, LIBOR+6.75% cash due 10/17/2023	7.75	%		$	15,982	$	15,982	$	15,724	(6)(15)(19)
1,609,201 Class A Units						764		386		(15)
1,019,168.80 Preferred Units, 6%						1,019		1,172		(15)
70,424.5641 Class A Warrants (exercise price $3.3778) expiration date 9/9/2029						—		—		(15)
						17,765		17,282
Caregiver Services, Inc.			Health Care Services
1,080,399 shares of Series A Preferred Stock, 10%						1,080		838		(15)
						1,080		838
Total Affiliate Investments (1.4% of net assets)						$	18,845	$	18,120
Non-Control/Non-Affiliate Investments										(18)
109 Montgomery Owner LLC			Real Estate Operating Companies
First Lien Delayed Draw Term Loan, LIBOR+7.00% cash due 2/2/2023	7.50	%		2,427		2,345		2,696		(6)(15)(19)
						2,345		2,696
A.T. Holdings II SÀRL			Biotechnology
First Lien Term Loan, 9.50% cash due 12/22/2022				32,454		32,298		32,386		(11)(15)
						32,298		32,386
Access CIG, LLC			Diversified Support Services
First Lien Term Loan, LIBOR+3.75% cash due 2/27/2025	3.84	%		3,343		3,152		3,326		(6)
Second Lien Term Loan, LIBOR+7.75% cash due 2/27/2026	7.84	%		17,000		16,928		17,011		(6)
						20,080		20,337
Accupac, Inc.			Personal Products
First Lien Term Loan, LIBOR+6.00% cash due 1/17/2026	7.00	%		16,099		15,741		16,099		(6)(15)
First Lien Delayed Draw Term Loan, LIBOR+6.00% cash due 1/17/2026				—		(28)		—		(6)(15)(19)
First Lien Revolver, LIBOR+6.00% cash due 1/17/2026	7.00	%		1,531		1,486		1,531		(6)(15)(19)
						17,199		17,630
Acquia Inc.			Application Software
First Lien Term Loan, LIBOR+7.00% cash due 10/31/2025	8.00	%		27,349		26,962		27,319		(6)(15)
First Lien Revolver, LIBOR+7.00% cash due 10/31/2025				—		(29)		(2)		(6)(15)(19)
						26,933		27,317

6

Oaktree Specialty Lending Corporation

Consolidated Schedule of Investments

December 31, 2021

(dollar amounts in thousands)

(unaudited)

Portfolio Company/Type of Investment (1)(2)(3)(4)(5)	Cash Interest Rate (6)		Industry	Principal (7)		Cost		Fair Value		Notes
ADB Companies, LLC			Construction & Engineering
First Lien Term Loan, LIBOR+6.25% cash due 12/18/2025	7.25	%		$	15,240	$	14,641	$	15,105	(6)(15)
						14,641		15,105
Aden & Anais Merger Sub, Inc.			Apparel, Accessories & Luxury Goods
51,645 Common Units in Aden & Anais Holdings, Inc.						5,165		—		(15)
						5,165		—
AI Sirona (Luxembourg) Acquisition S.a.r.l.			Pharmaceuticals
Second Lien Term Loan, EURIBOR+7.25% cash due 9/28/2026	7.25	%		€	24,838	27,732		28,222		(6)(11)(15)
						27,732		28,222
AIP RD Buyer Corp.			Distributors
Second Lien Term Loan, SOFR+7.75% cash due 12/23/2029	8.75	%		$	14,414	14,127		14,126		(6)(15)
14,410 Common Units in RD Holding LP						1,441		1,441		(15)
						15,568		15,567
AirStrip Technologies, Inc.			Application Software
5,715 Common Stock Warrants (exercise price $139.99) expiration date 5/11/2025						90		—		(15)
						90		—
All Web Leads, Inc.			Advertising
First Lien Term Loan, LIBOR+6.50% cash due 12/29/2023	7.50	%		23,641		21,550		22,744		(6)(15)
						21,550		22,744
Alvogen Pharma US, Inc.			Pharmaceuticals
First Lien Term Loan, LIBOR+5.25% cash due 12/31/2023	6.25	%		13,650		13,216		13,087		(6)
						13,216		13,087
Alvotech Holdings S.A.			Biotechnology							(13)
Fixed Rate Bond 15% PIK Tranche A due 6/24/2025				20,967		22,243		22,717		(11)(15)
Fixed Rate Bond 15% PIK Tranche B due 6/24/2025				20,512		21,798		22,225		(11)(15)
43,889 Common Shares						6,323		6,277		(15)
						50,364		51,219
American Tire Distributors, Inc.			Distributors
First Lien Term Loan, LIBOR+6.25% cash due 10/20/2028	7.00	%		9,945		9,821		10,027		(6)
						9,821		10,027
Amplify Finco Pty Ltd.			Movies & Entertainment
First Lien Term Loan, LIBOR+4.25% cash due 11/26/2026	5.00	%		15,337		13,856		14,902		(6)(11)(15)
Second Lien Term Loan, LIBOR+8.00% cash due 11/26/2027	8.75	%		12,500		12,188		12,062		(6)(11)(15)
						26,044		26,964
Ankura Consulting Group LLC			Research & Consulting Services
Second Lien Term Loan, LIBOR+8.00% cash due 3/19/2029	8.75	%		7,466		7,354		7,541		(6)(15)
						7,354		7,541
Apptio, Inc.			Application Software
First Lien Term Loan, LIBOR+7.25% cash due 1/10/2025	8.25	%		34,458		33,502		34,186		(6)(15)
First Lien Revolver, LIBOR+7.25% cash due 1/10/2025	8.25	%		892		853		875		(6)(15)(19)
						34,355		35,061
Ardonagh Midco 3 PLC			Insurance Brokers
First Lien Term Loan, EURIBOR+6.75% cash due 7/14/2026	7.75	%		€	1,964	2,179		2,256		(6)(11)(15)
First Lien Term Loan, UK LIBOR+6.75% cash due 7/14/2026	7.50	%		£	18,636	23,268		25,494		(6)(11)(15)
First Lien Term Loan, LIBOR+5.50% cash due 7/14/2026	6.25	%		$	10,519	10,325		10,373		(6)(11)(15)
First Lien Delayed Draw Term Loan, SONIA+5.50% cash due 7/14/2026				£	—	(44)		—		(6)(11)(15)(19)
						35,728		38,123
Associated Asphalt Partners, LLC			Construction Materials
First Lien Term Loan, LIBOR+5.25% cash due 4/5/2024	6.25	%		$	2,524	2,267		2,227		(6)
						2,267		2,227

7

Oaktree Specialty Lending Corporation

Consolidated Schedule of Investments

December 31, 2021

(dollar amounts in thousands)

(unaudited)

Portfolio Company/Type of Investment (1)(2)(3)(4)(5)	Cash Interest Rate (6)		Industry	Principal (7)		Cost		Fair Value		Notes
Astra Acquisition Corp.			Application Software
First Lien Term Loan, LIBOR+5.25% cash due 10/25/2028	5.75	%		$	5,000	$	4,829	$	4,921	(6)
						4,829		4,921
Athenex, Inc.			Pharmaceuticals
First Lien Term Loan, 11.00% cash due 6/19/2026				42,145		40,566		41,618		(11)(15)
First Lien Delayed Draw Term Loan, 11.00% cash due 6/19/2026				—		(274)		(263)		(11)(15)(19)
328,149 Common Stock Warrants (exercise price $12.63) expiration date 6/19/2027						973		33		(11)(15)
						41,265		41,388
Aurora Lux Finco S.À.R.L.			Airport Services
First Lien Term Loan, LIBOR+6.00% cash due 12/24/2026	7.00	%		22,598		22,196		21,400		(6)(11)(15)
						22,196		21,400
The Avery			Real Estate Operating Companies
First Lien Delayed Draw Term Loan in T8 Urban Condo Owner, LLC, LIBOR+7.30% cash due 2/17/2023	7.55	%		18,550		18,295		18,742		(6)(15)(19)
Subordinated Delayed Draw Debt in T8 Senior Mezz LLC, LIBOR+12.50% cash due 2/17/2023	12.75	%		4,367		4,311		4,368		(6)(15)
						22,606		23,110
BAART Programs, Inc.			Health Care Services
First Lien Delayed Draw Term Loan, LIBOR+5.00% cash due 6/11/2027	6.00	%		1,196		1,152		1,173		(6)(15)(19)
Second Lien Term Loan, LIBOR+8.50% cash due 6/11/2028	9.50	%		7,166		7,059		7,130		(6)(15)
Second Lien Delayed Draw Term Loan, LIBOR+8.50% cash due 6/11/2028						(163)		(55)		(6)(15)(19)
						8,048		8,248
Berner Food & Beverage, LLC			Soft Drinks
First Lien Term Loan, LIBOR+6.50% cash due 7/30/2027	7.50	%		33,329		32,787		32,762		(6)(15)
First Lien Revolver, LIBOR+6.50% cash due 7/30/2027	7.50	%		1,299		1,249		1,247		(6)(15)(19)
						34,036		34,009
Blackhawk Network Holdings, Inc.			Data Processing & Outsourced Services
Second Lien Term Loan, LIBOR+7.00% cash due 6/15/2026	7.13	%		30,625		30,206		30,529		(6)
						30,206		30,529
Blumenthal Temecula, LLC			Automotive Retail
First Lien Term Loan, 9.00% cash due 9/24/2023				3,979		3,980		3,979		(15)
1,293,324 Preferred Units in Unstoppable Automotive AMV, LLC						1,293		1,293		(15)
298,460 Preferred Units in Unstoppable Automotive VMV, LLC						298		298		(15)
298,460 Common Units in Unstoppable Automotive AMV, LLC						298		298		(15)
99,486 Common Units in Unstoppable Automotive VMV, LLC						100		99		(15)
						5,969		5,967
Cadence Aerospace, LLC			Aerospace & Defense
First Lien Term Loan, LIBOR+6.50% cash 2.00% PIK due 11/14/2023	7.50	%		14,183		12,806		13,026		(6)(15)
						12,806		13,026
Chief Power Finance II, LLC			Independent Power Producers & Energy Traders
First Lien Term Loan, LIBOR+6.50% cash due 12/31/2022	7.50	%		19,733		19,476		19,713		(6)(15)
						19,476		19,713
CircusTrix Holdings, LLC			Leisure Facilities
First Lien Term Loan, LIBOR+5.50% cash 2.50% PIK due 7/16/2023	6.50	%		10,736		9,925		8,977		(6)(15)(19)
						9,925		8,977

8

Oaktree Specialty Lending Corporation

Consolidated Schedule of Investments

December 31, 2021

(dollar amounts in thousands)

(unaudited)

Portfolio Company/Type of Investment (1)(2)(3)(4)(5)	Cash Interest Rate (6)		Industry	Principal (7)		Cost		Fair Value		Notes
CITGO Holding, Inc.			Oil & Gas Refining & Marketing
First Lien Term Loan, LIBOR+7.00% cash due 8/1/2023	8.00	%		$	9,111	$	9,026	$	9,007	(6)
Fixed Rate Bond, 9.25% cash due 8/1/2024				10,672		10,672		10,737
						19,698		19,744
CITGO Petroleum Corp.			Oil & Gas Refining & Marketing
First Lien Term Loan, LIBOR+6.25% cash due 3/28/2024	7.25	%		8,311		8,073		8,321		(6)
						8,073		8,321
Clear Channel Outdoor Holdings Inc.			Advertising
Fixed Rate Bond, 7.50% cash due 6/1/2029				6,476		6,476		6,924		(11)
						6,476		6,924
Community Brands Parentco, LLC			Application Software
First Lien Revolver, LIBOR+5.00% cash due 12/2/2022				—		(9)		(9)		(6)(15)(19)
Second Lien Term Loan, LIBOR+9.25% cash due 6/2/2023	10.25	%		11,000		10,868		10,906		(6)(15)
						10,859		10,897
Continental Intermodal Group LP			Oil & Gas Storage & Transportation
First Lien Term Loan, LIBOR+8.50% cash due 1/28/2025	9.50	%		38,327		36,319		32,195		(6)(15)
Common Stock Warrants expiration date 7/28/2025						648		1,782		(15)
						36,967		33,977
Convergeone Holdings, Inc.			IT Consulting & Other Services
First Lien Term Loan, LIBOR+5.00% cash due 1/4/2026	5.10	%		7,006		6,841		6,877		(6)
						6,841		6,877
Conviva Inc.			Application Software
517,851 Shares of Series D Preferred Stock						605		894		(15)
						605		894
CorEvitas, LLC			Health Care Services
First Lien Term Loan, LIBOR+5.50% cash due 12/13/2025	6.50	%		10,170		10,053		10,096		(6)(15)
First Lien Delayed Draw Term Loan, LIBOR+5.50% cash due 12/13/2025	6.50	%		1,938		1,889		1,911		(6)(15)(19)
First Lien Revolver, PRIME+4.50% cash due 12/13/2025	7.75	%		305		284		292		(6)(15)(19)
1,099 Class A2 Common Units in CorEvitas Holdings, L.P.						1,038		2,687		(15)
						13,264		14,986
Coty Inc.			Personal Products
First Lien Revolver, LIBOR+1.75% cash due 4/5/2023				—		(712)		(148)		(6)(11)(15)(19)
						(712)		(148)
Coyote Buyer, LLC			Specialty Chemicals
First Lien Term Loan, LIBOR+6.00% cash due 2/6/2026	7.00	%		18,340		17,864		18,179		(6)(15)
First Lien Revolver, LIBOR+6.00% cash due 2/6/2025				—		(13)		(12)		(6)(15)(19)
						17,851		18,167
Curium Bidco S.à.r.l.			Biotechnology
Second Lien Term Loan, LIBOR+7.75% cash due 10/27/2028	8.50	%		16,787		16,535		16,976		(6)(11)
						16,535		16,976
Delta Topco, Inc.			Systems Software
Second Lien Term Loan, LIBOR+7.25% cash due 12/1/2028	8.00	%		6,680		6,647		6,745		(6)
						6,647		6,745
Dialyze Holdings, LLC			Health Care Equipment
First Lien Term Loan, LIBOR+7.00% cash 2.00% PIK due 8/4/2026	8.00	%		24,216		22,650		22,642		(6)(15)
First Lien Delayed Draw Term Loan, LIBOR+7.00% cash 2.00% PIK due 8/4/2026				—		(161)		(154)		(6)(15)(19)
5,403,823 Class A Warrants (exercise price $1.00) expiration date 8/4/2028						1,405		1,351		(15)
						23,894		23,839
Digital.AI Software Holdings, Inc.			Application Software
First Lien Term Loan, LIBOR+7.00% cash due 2/10/2027	8.00	%		9,978		9,621		9,768		(6)(15)
First Lien Revolver, LIBOR+7.00% cash due 2/10/2027	8.00	%		359		332		336		(6)(15)(19)
						9,953		10,104

9

Oaktree Specialty Lending Corporation

Consolidated Schedule of Investments

December 31, 2021

(dollar amounts in thousands)

(unaudited)

Portfolio Company/Type of Investment (1)(2)(3)(4)(5)	Cash Interest Rate (6)		Industry	Principal (7)		Cost		Fair Value		Notes
DirecTV Financing, LLC			Cable & Satellite
First Lien Term Loan, LIBOR+5.00% cash due 8/2/2027	5.75	%		$	18,573	$	18,387	$	18,614	(6)
						18,387		18,614
Eagleview Technology Corporation			Application Software
Second Lien Term Loan, LIBOR+7.50% cash due 8/14/2026	8.50	%		8,974		8,884		8,862		(6)(15)
						8,884		8,862
EHR Canada, LLC			Food Retail
First Lien Term Loan, LIBOR+8.00% cash due 2/28/2022	9.00	%		2,500		2,498		2,498		(6)(15)
						2,498		2,498
EOS Fitness Opco Holdings, LLC			Leisure Facilities
487.5 Class A Preferred Units, 12%						488		320		(15)
12,500 Class B Common Units						—		—		(15)
						488		320
FINThrive Software Intermediate Holdings, Inc.			Health Care Technology
Second Lien Term Loan, LIBOR+6.75% cash due 12/17/2029	7.25	%		25,061		24,685		25,053		(6)
						24,685		25,053
Firstlight Holdco, Inc.			Alternative Carriers
First Lien Term Loan, LIBOR+3.50% cash due 7/23/2025	3.60	%		4,999		4,710		4,949		(6)
						4,710		4,949
Fortress Biotech, Inc.			Biotechnology
First Lien Term Loan, 11.00% cash due 8/27/2025				9,466		8,970		9,371		(11)(15)
331,200 Common Stock Warrants (exercise price $3.20) expiration date 8/27/2030						405		189		(11)(15)
						9,375		9,560
GKD Index Partners, LLC			Specialized Finance
First Lien Term Loan, LIBOR+8.50% cash due 6/29/2023	9.50	%		26,052		25,611		25,557		(6)(15)
First Lien Revolver, LIBOR+8.50% cash due 6/29/2023	9.50	%		1,280		1,255		1,248		(6)(15)(19)
						26,866		26,805
Global Medical Response, Inc.			Health Care Services
First Lien Term Loan, LIBOR+4.25% cash due 3/14/2025	5.25	%		5,616		5,435		5,603		(6)
						5,435		5,603
Houghton Mifflin Harcourt Publishers Inc.			Education Services
First Lien Term Loan, LIBOR+6.25% cash due 11/22/2024	7.25	%		1,007		983		1,007		(6)(11)
						983		1,007
iCIMs, Inc.			Application Software
First Lien Term Loan, LIBOR+6.50% cash due 9/12/2024	7.50	%		25,635		25,077		25,547		(6)(15)
First Lien Revolver, LIBOR+6.50% cash due 9/12/2024	7.50	%		1,176		1,150		1,172		(6)(15)
						26,227		26,719
Immucor, Inc.			Health Care Supplies
First Lien Term Loan, LIBOR+5.75% cash due 7/2/2025	6.75	%		8,635		8,419		8,505		(6)(15)
Second Lien Term Loan, LIBOR+8.00% cash 3.50% PIK due 10/2/2025	9.00	%		22,029		21,459		21,809		(6)(15)
						29,878		30,314
Integral Development Corporation			Other Diversified Financial Services
1,078,284 Common Stock Warrants (exercise price $0.9274) expiration date 7/10/2024						113		—		(15)
						113		—

10

Oaktree Specialty Lending Corporation

Consolidated Schedule of Investments

December 31, 2021

(dollar amounts in thousands)

(unaudited)

Portfolio Company/Type of Investment (1)(2)(3)(4)(5)	Cash Interest Rate (6)		Industry	Principal (7)		Cost		Fair Value		Notes
Inventus Power, Inc.			Electrical Components & Equipment
First Lien Term Loan, LIBOR+5.00% cash due 3/29/2024	6.00	%		$	18,802	$	18,662	$	18,620	(6)(15)
Second Lien Term Loan, LIBOR+8.50% cash due 9/29/2024	9.50	%		13,674		13,455		13,437		(6)(15)
						32,117		32,057
INW Manufacturing, LLC			Personal Products
First Lien Term Loan, LIBOR+5.75% cash due 5/7/2027	6.50	%		36,797		35,809		36,061		(6)(15)
						35,809		36,061
IPC Corp.			Application Software
First Lien Term Loan, LIBOR+6.50% cash due 10/1/2026	7.50	%		34,271		33,390		33,414		(6)(15)
						33,390		33,414
Itafos Inc.			Fertilizers & Agricultural Chemicals
First Lien Term Loan, LIBOR+8.25% cash due 8/25/2024	9.25	%		21,662		20,899		20,861		(6)(15)
						20,899		20,861
Ivanti Software, Inc.			Application Software
Second Lien Term Loan, LIBOR+7.25% cash due 12/1/2028	7.75	%		10,247		10,196		10,273		(6)
						10,196		10,273
Jazz Acquisition, Inc.			Aerospace & Defense
First Lien Term Loan, LIBOR+7.50% cash due 1/29/2027	8.50	%		36,511		35,264		36,920		(6)(15)
						35,264		36,920
LaserShip, Inc.			Air Freight & Logistics
Second Lien Term Loan, LIBOR+7.50% cash due 5/7/2029	8.25	%		4,787		4,739		4,829		(6)(15)
						4,739		4,829
Latam Airlines Group S.A.			Airlines
First Lien Delayed Draw Term Loan, LIBOR+11.00% PIK due 3/29/2022				16,776		16,703		16,956		(6)(11)(15)(19)
First Lien Delayed Draw Term Loan, LIBOR+7.50% PIK due 3/29/2022				4,629		4,585		4,571		(6)(11)(15)(19)
						21,288		21,527
Lift Brands Holdings, Inc.			Leisure Facilities
2,000,000 Class A Common Units in Snap Investments, LLC						1,399		—		(15)
						1,399		—
Lightbox Intermediate, L.P.			Real Estate Services
First Lien Term Loan, LIBOR+5.00% cash due 5/9/2026	5.22	%		41,326		40,396		40,810		(6)(15)
						40,396		40,810
Liquid Environmental Solutions Corporation			Environmental & Facilities Services
Second Lien Term Loan, LIBOR+8.50% cash due 11/30/2026	9.50	%		4,357		4,272		4,270		(6)(15)
Second Lien Delayed Draw Term Loan, LIBOR+8.50% cash due 11/30/2026	9.50	%		1,162		1,139		1,092		(6)(15)(19)
						5,411		5,362
LTI Holdings, Inc.			Electronic Components
Second Lien Term Loan, LIBOR+6.75% cash due 9/6/2026	6.85	%		2,140		2,083		2,135		(6)
						2,083		2,135
Marinus Pharmaceuticals, Inc.			Pharmaceuticals
First Lien Term Loan, 11.50% cash due 5/11/2026				3,441		3,381		3,391		(11)(15)
First Lien Delayed Draw Term Loan, 11.50% cash due 5/11/2026				6,881		6,762		6,781		(11)(15)(19)
						10,143		10,172
Mayfield Agency Borrower Inc.			Property & Casualty Insurance
First Lien Term Loan, LIBOR+4.50% cash due 2/28/2025	4.60	%		6,931		6,878		6,918		(6)
						6,878		6,918

11

Oaktree Specialty Lending Corporation

Consolidated Schedule of Investments

December 31, 2021

(dollar amounts in thousands)

(unaudited)

Portfolio Company/Type of Investment (1)(2)(3)(4)(5)	Cash Interest Rate (6)		Industry	Principal (7)		Cost		Fair Value		Notes
Mesoblast, Inc.			Biotechnology
First Lien Term Loan, 8.00% cash 1.75% PIK due 11/19/2026				$	7,121	$	6,928	$	6,927	(11)(15)
First Lien Delayed Draw Term Loan, 8.00% cash 1.75% PIK due 11/19/2026				—		1		2		(11)(15)(19)
						6,929		6,929
MHE Intermediate Holdings, LLC			Diversified Support Services
First Lien Term Loan, LIBOR+5.75% cash due 7/21/2027	6.75	%		16,388		16,085		16,074		(6)(15)
First Lien Delayed Draw Term Loan, LIBOR+5.75% cash due 7/21/2027	6.75	%		1,234		1,201		1,212		(6)(15)(19)
First Lien Revolver, LIBOR+5.75% cash due 7/21/2027				—		(25)		(27)		(6)(15)(19)
						17,261		17,259
Mindbody, Inc.			Internet Services & Infrastructure
First Lien Term Loan, LIBOR+7.00% cash 1.50% PIK due 2/14/2025	8.00	%		45,144		43,863		44,377		(6)(15)
First Lien Revolver, LIBOR+8.00% cash due 2/14/2025				—		(70)		(68)		(6)(15)(19)
						43,793		44,309
Mosaic Companies, LLC			Home Improvement Retail
First Lien Term Loan, LIBOR+6.75% cash due 7/2/2026	7.75	%		47,092		46,245		46,150		(6)(15)
						46,245		46,150
MRI Software LLC			Application Software
First Lien Term Loan, LIBOR+5.50% cash due 2/10/2026	6.50	%		28,180		27,668		28,158		(6)(15)
First Lien Revolver, LIBOR+5.50% cash due 2/10/2026				—		(13)		(1)		(6)(15)(19)
						27,655		28,157
Navisite, LLC			Data Processing & Outsourced Services
Second Lien Term Loan, LIBOR+8.50% cash due 12/30/2026	9.50	%		22,560		22,185		22,041		(6)(15)
						22,185		22,041
NeuAG, LLC			Fertilizers & Agricultural Chemicals
First Lien Term Loan, LIBOR+5.50% cash 7.00% PIK due 9/11/2024	7.00	%		47,872		46,273		47,011		(6)(15)
First Lien Delayed Draw Term Loan, LIBOR+5.50% cash 7.00% PIK due 9/11/2024				—		(200)		(98)		(6)(15)(19)
						46,073		46,913
NN, Inc.			Industrial Machinery
First Lien Term Loan, LIBOR+6.88% cash due 9/19/2026	7.88	%		59,160		57,894		57,977		(6)(11)(15)
						57,894		57,977
OEConnection LLC			Application Software
First Lien Term Loan, LIBOR+4.00% cash due 9/25/2026	4.10	%		3,349		3,157		3,344		(6)
Second Lien Term Loan, LIBOR+7.00% cash due 9/25/2027	7.50	%		7,519		7,370		7,369		(6)(15)
						10,527		10,713
Olaplex, Inc.			Personal Products
First Lien Term Loan, LIBOR+6.25% cash due 1/8/2026	7.25	%		51,783		50,644		51,912		(6)(15)
First Lien Revolver, LIBOR+6.25% cash due 1/8/2025				—		(54)		(27)		(6)(15)(19)
						50,590		51,885
OTG Management, LLC			Airport Services
First Lien Term Loan, LIBOR+2.00% cash 8.00% PIK due 9/1/2025	3.00	%		20,296		19,932		19,890		(6)(15)
First Lien Delayed Draw Term Loan, LIBOR+2.00% cash 8.00% PIK due 9/1/2025				—		(36)		(38)		(6)(15)(19)
						19,896		19,852
P & L Development, LLC			Pharmaceuticals
Fixed Rate Bond, 7.75% cash due 11/15/2025				7,776		7,829		7,794
						7,829		7,794
Park Place Technologies, LLC			Internet Services & Infrastructure
First Lien Term Loan, LIBOR+5.00% cash due 11/10/2027	6.00	%		9,925		9,475		9,927		(6)
						9,475		9,927

12

Oaktree Specialty Lending Corporation

Consolidated Schedule of Investments

December 31, 2021

(dollar amounts in thousands)

(unaudited)

Portfolio Company/Type of Investment (1)(2)(3)(4)(5)	Cash Interest Rate (6)		Industry	Principal (7)		Cost		Fair Value		Notes
Performance Health Holdings, Inc.			Health Care Distributors
First Lien Term Loan, LIBOR+6.00% cash due 7/12/2027	7.00	%		$	20,035	$	19,666	$	19,677	(6)(15)
						19,666		19,677
PFNY Holdings, LLC			Leisure Facilities
First Lien Term Loan, LIBOR+7.00% cash due 12/31/2026	8.00	%		26,286		25,764		25,760		(6)(15)
First Lien Delayed Draw Term Loan, LIBOR+7.00% cash due 12/31/2026				—		(50)		(50)		(6)(15)(19)
First Lien Revolver, LIBOR+7.00% cash due 12/31/2026				—		(25)		(25)		(6)(15)(19)
						25,689		25,685
Pingora MSR Opportunity Fund I-A, LP			Thrifts & Mortgage Finance
1.86% limited partnership interest						752		134		(11)(16)(19)
						752		134
Planview Parent, Inc.			Application Software
Second Lien Term Loan, LIBOR+7.25% cash due 12/18/2028	8.00	%		28,627		28,198		28,699		(6)(15)
						28,198		28,699
PLNTF Holdings, LLC			Leisure Facilities
First Lien Term Loan, LIBOR+8.00% cash due 3/22/2026	9.00	%		3,950		3,883		3,970		(6)(15)
						3,883		3,970
Pluralsight, LLC			Application Software
First Lien Term Loan, LIBOR+8.00% cash due 4/6/2027	9.00	%		48,689		47,830		47,831		(6)(15)
First Lien Revolver, LIBOR+8.00% cash due 4/6/2027				—		(62)		(62)		(6)(15)(19)
						47,768		47,769
PRGX Global, Inc.			Data Processing & Outsourced Services
First Lien Term Loan, LIBOR+6.75% cash due 3/3/2026	7.75	%		34,032		32,997		33,498		(6)(15)
First Lien Revolver, LIBOR+6.75% cash due 3/3/2026				—		(28)		(26)		(6)(15)(19)
80,515 Class B Common Units						79		80		(15)
						33,048		33,552
ProFrac Services, LLC			Industrial Machinery
First Lien Term Loan, LIBOR+8.50% cash due 9/15/2023	9.75	%		30,910		29,378		30,600		(6)(15)
						29,378		30,600
Project Boost Purchaser, LLC			Application Software
Second Lien Term Loan, LIBOR+8.00% cash due 5/31/2027	8.10	%		5,250		5,155		5,237		(6)(15)
						5,155		5,237
Quantum Bidco Limited			Food Distributors
First Lien Term Loan, UK LIBOR+6.00% cash due 1/29/2028	6.12	%		£	3,501	4,633		4,680		(6)(11)
						4,633		4,680
QuorumLabs, Inc.			Application Software
64,887,669 Junior-2 Preferred Stock						375		—		(15)
						375		—
Realfi Strategic Capital Funding LLC			Real Estate Operating Companies
First Lien Delayed Draw Term Loan, 9.00% cash due 12/24/2028				$	—	—		—		(15)(19)
2,500 Warrant Units (exercise price $0.01) expiration date 11/24/2031				—		—		—		(15)
						—		—
Relativity ODA LLC			Application Software
First Lien Term Loan, LIBOR+7.50% PIK due 5/12/2027				23,372		22,877		22,928		(6)(15)
First Lien Revolver, LIBOR+6.50% cash due 5/12/2027				—		(49)		(42)		(6)(15)(19)
						22,828		22,886

13

Oaktree Specialty Lending Corporation

Consolidated Schedule of Investments

December 31, 2021

(dollar amounts in thousands)

(unaudited)

Portfolio Company/Type of Investment (1)(2)(3)(4)(5)	Cash Interest Rate (6)		Industry	Principal (7)		Cost		Fair Value		Notes
Renaissance Holding Corp.			Diversified Banks
Second Lien Term Loan, LIBOR+7.00% cash due 5/29/2026	7.10	%		$	3,542	$	3,515	$	3,562	(6)
						3,515		3,562
RumbleOn, Inc.			Automotive Retail
First Lien Term Loan, LIBOR+8.25% cash due 8/31/2026	9.25	%		37,941		35,687		36,993		(6)(11)(15)
First Lien Delayed Draw Term Loan, LIBOR+8.25% cash due 8/31/2026				—		(969)		(408)		(6)(11)(15)(19)
164,660 Class B Common Stock Warrants (exercise price $33.00) expiration date 2/28/2023						1,202		1,787		(15)
						35,920		38,372
Sabert Corporation			Metal & Glass Containers
First Lien Term Loan, LIBOR+4.50% cash due 12/10/2026	5.50	%		1,771		1,672		1,774		(6)
						1,672		1,774
Scilex Pharmaceuticals Inc.			Pharmaceuticals
Fixed Rate Zero Coupon Bond due 8/15/2026				7,571		6,551		7,154		(15)
						6,551		7,154
ShareThis, Inc.			Application Software
345,452 Series C Preferred Stock Warrants (exercise price $3.0395) expiration date 3/4/2024						367		—		(15)
						367		—
SiO2 Medical Products, Inc.			Metal & Glass Containers
First Lien Term Loan, 11.00% cash due 12/21/2026				19,302		18,828		18,824		(15)
Common Stock Warrants (exercise price $0.75) expiration date 7/31/2028						681		681		(15)
						19,509		19,505
Sirva Worldwide, Inc.			Diversified Support Services
First Lien Term Loan, LIBOR+5.50% cash due 8/4/2025	5.60	%		1,727		1,556		1,572		(6)
						1,556		1,572
SM Wellness Holdings, Inc.			Health Care Services
Second Lien Term Loan, LIBOR+8.00% cash due 4/16/2029	8.75	%		9,109		8,972		9,177		(6)(15)
						8,972		9,177
SonicWall US Holdings Inc.			Technology Distributors
Second Lien Term Loan, LIBOR+7.50% cash due 5/18/2026	7.67	%		3,195		3,163		3,148		(6)(15)
						3,163		3,148
Sorrento Therapeutics, Inc.			Biotechnology
50,000 Common Stock Units						197		233		(11)
						197		233
Spanx, LLC			Apparel Retail
First Lien Term Loan, LIBOR+5.50% cash due 11/18/2028	6.25	%		4,568		4,479		4,477		(6)(15)
First Lien Revolver, LIBOR+5.25% cash due 11/18/2027				—		(61)		(62)		(6)(15)(19)
						4,418		4,415
SumUp Holdings Luxembourg S.À.R.L.			Other Diversified Financial Services
First Lien Delayed Draw Term Loan, EURIBOR+8.50% cash due 3/10/2026	10.00	%		€	16,911	19,415		18,943		(6)(11)(15)
						19,415		18,943
Sunland Asphalt & Construction, LLC			Construction & Engineering
First Lien Term Loan, LIBOR+6.00% cash due 1/13/2026	7.00	%		$	42,944	41,753		42,429		(6)(15)
First Lien Revolver, LIBOR+6.00% cash due 1/13/2022				—		(5)		(7)		(6)(15)(19)
						41,748		42,422

14

Oaktree Specialty Lending Corporation

Consolidated Schedule of Investments

December 31, 2021

(dollar amounts in thousands)

(unaudited)

Portfolio Company/Type of Investment (1)(2)(3)(4)(5)	Cash Interest Rate (6)		Industry	Principal (7)		Cost		Fair Value		Notes
Supermoose Borrower, LLC			Application Software
First Lien Term Loan, LIBOR+3.75% cash due 8/29/2025	3.97	%		$	3,493	$	3,082	$	3,306	(6)
						3,082		3,306
SVP-Singer Holdings Inc.			Home Furnishings
First Lien Term Loan, LIBOR+6.75% cash due 7/28/2028	7.50	%		20,924		19,542		19,738		(6)(15)
						19,542		19,738
Swordfish Merger Sub LLC			Auto Parts & Equipment
Second Lien Term Loan, LIBOR+6.75% cash due 2/2/2026	7.75	%		12,500		12,468		12,461		(6)(15)
						12,468		12,461
Tacala, LLC			Restaurants
Second Lien Term Loan, LIBOR+7.50% cash due 2/4/2028	8.25	%		9,448		9,323		9,446		(6)
						9,323		9,446
Tahoe Bidco B.V.			Application Software
First Lien Term Loan, LIBOR+6.00% cash due 9/29/2028	6.75	%		23,215		22,766		22,750		(6)(11)(15)
First Lien Revolver, LIBOR+6.00% cash due 10/1/2027				—		(33)		(35)		(6)(11)(15)(19)
						22,733		22,715
Tecta America Corp.			Construction & Engineering
Second Lien Term Loan, LIBOR+8.50% cash due 4/9/2029	9.25	%		5,203		5,125		5,203		(6)(15)
						5,125		5,203
Telestream Holdings Corporation			Application Software
First Lien Term Loan, LIBOR+8.75% cash due 10/15/2025	9.75	%		18,463		18,003		18,241		(6)(15)
First Lien Revolver, LIBOR+8.75% cash due 10/15/2025	9.75	%		703		677		682		(6)(15)(19)
						18,680		18,923
TerSera Therapeutics LLC			Pharmaceuticals
Second Lien Term Loan, LIBOR+9.50% cash due 3/30/2026<