Form 10-Q

10-Q 1 d175458d10q.htm FORM 10-Q Form 10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

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

FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2021

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

COMMISSION FILE NUMBER: 814-00757

FS KKR Capital Corp.

(Exact name of registrant as specified in its charter)


Maryland		26-1630040
(State of Incorporation)		(I.R.S. Employer Identification Number)

201 Rouse Boulevard Philadelphia, Pennsylvania		19112
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (215) 495-1150

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

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

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


Large accelerated filer ☒				Accelerated filer ☐

Non-accelerated filer ☐				Smaller reporting company ☐

				Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒.

Securities registered pursuant to Section 12(b) of the Act.

Title of each class

Trading
Symbol(s)

Name of each exchange

on which registered

Common stock, par value $0.001

FSK

New York Stock Exchange

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

There were 285,129,993 shares of the registrant’s common stock outstanding as of August 9, 2021.

TABLE OF CONTENTS


		Page
PART I—FINANCIAL INFORMATION
ITEM 1.	FINANCIAL STATEMENTS		3
	Consolidated Balance Sheets as of June 30, 2021 (Unaudited) and December 31, 2020		3
	Unaudited Consolidated Statements of Operations for the three and six months ended June 30, 2021 and 2020		4
	Unaudited Consolidated Statements of Changes in Net Assets for the three and six months ended June 30, 2021 and 2020		5
	Unaudited Consolidated Statements of Cash Flows for the six months ended June 30, 2021 and 2020		6
	Consolidated Schedules of Investments as of June 30, 2021 (Unaudited) and December 31, 2020		8
	Notes to Unaudited Consolidated Financial Statements		40
ITEM 2.	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS		83
ITEM 3.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK		98
ITEM 4.	CONTROLS AND PROCEDURES		99

PART II—OTHER INFORMATION
ITEM 1.	LEGAL PROCEEDINGS		101
ITEM 1A.	RISK FACTORS		101
ITEM 2.	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS		101
ITEM 3.	DEFAULTS UPON SENIOR SECURITIES		101
ITEM 4.	MINE SAFETY DISCLOSURES		101
ITEM 5.	OTHER INFORMATION		101
ITEM 6.	EXHIBITS		101
	SIGNATURES		109

PART I—FINANCIAL INFORMATION

Item 1. Financial Statements.

FS KKR Capital Corp.

Consolidated Balance Sheets

(in millions, except share and per share amounts)


	June 30, 2021 (Unaudited)		December 31, 2020
Assets
Investments, at fair value
Non-controlled/unaffiliated investments (amortized cost—$11,025 and $5,314, respectively)	$	11,261	$	4,986
Non-controlled/affiliated investments (amortized cost—$761 and $629, respectively)		835		534
Controlled/affiliated investments (amortized cost—$2,706 and $1,510, respectively)		2,638		1,260

Total investments, at fair value (amortized cost—$14,492 and $7,453, respectively)		14,734		6,780
Cash		485		182
Foreign currency, at fair value (cost—$14 and $8, respectively)		14		9
Receivable for investments sold and repaid		325		173
Income receivable		140		72
Unrealized appreciation on foreign currency forward contracts		2		1
Deferred financing costs		14		15
Deferred merger costs		—		1
Prepaid expenses and other assets		9		4

Total assets	$	15,723	$	7,237

Liabilities
Payable for investments purchased	$	0	$	—
Debt (net of deferred financing costs of $25 and $23, respectively)⁽¹⁾		7,720		3,997
Unrealized depreciation on foreign currency forward contracts		2		3
Stockholder distributions payable		168		74
Management fees payable		54		25
Subordinated income incentive fees payable⁽²⁾		29		—
Administrative services expense payable		5		2
Interest payable		65		25
Other accrued expenses and liabilities		27		15

Total liabilities		8,070		4,141

Commitments and contingencies⁽³⁾
Stockholders’ equity
Preferred stock, $0.001 par value, 50,000,000 shares authorized, none issued and outstanding		—		—
Common stock, $0.001 par value, 750,000,000 shares authorized, 285,129,993 and 123,755,965 shares issued and outstanding, respectively		0		0
Capital in excess of par value		7,508		3,866
Retained earnings (accumulated deficit)⁽⁴⁾		145		(770	)

Total stockholders’ equity		7,653		3,096

Total liabilities and stockholders’ equity	$	15,723	$	7,237

Net asset value per share of common stock at period end	$	26.84	$	25.02

(1)	See Note 9 for a discussion of the Company’s financing arrangements.

(2)	See Note 2 for a discussion of the methodology employed by the Company in calculating the subordinated income incentive fees.

(3)	See Note 10 for a discussion of the Company’s commitments and contingencies.

(4)	See Note 5 for a discussion of the sources of distributions paid by the Company.

See notes to unaudited consolidated financial statements.

FS KKR Capital Corp.

Unaudited Consolidated Statements of Operations

(in millions, except share and per share amounts)


	Three Months Ended June 30,						Six Months Ended June 30,
	2021			2020			2021			2020
Investment income
Interest income	$	108		$	109		$	195		$	234
Paid-in-kind interest income		9			9			19			20
Fee income		22			6			33			18
Dividend and other income		8			1			12			3
From non-controlled/affiliated investments:
Interest income		1			2			4			5
Paid-in-kind interest income		2			4			8			9
Fee income		—			—			—			0
Dividend income		0			—			0			—
From controlled/affiliated investments:
Interest income		2			1			4			4
Paid-in-kind interest income		7			2			8			2
Fee income		1			—			1			—
Dividend and other income		46			16			73			34

Total investment income		206			150			357			329

Operating expenses
Management fees		30			26			55			56
Subordinated income incentive fees⁽¹⁾		8			—			8			—
Administrative services expenses		2			3			4			5
Accounting and administrative fees		0			0			1			1
Interest expense⁽²⁾		46			42			88			88
Other general and administrative expenses		4			2			7			4

Total operating expenses		90			73			163			154

Net investment income		116			77			194			175

Realized and unrealized gain/loss
Net realized gain (loss) on investments:
Non-controlled/unaffiliated investments		1			(48	)		(82	)		(140	)
Non-controlled/affiliated investments		64			(5	)		64			(39	)
Controlled/affiliated investments		(13	)		(17	)		(56	)		(17	)
Net realized gain (loss) on foreign currency forward contracts		0			—			—			—
Net realized gain (loss) on foreign currency		(1	)		1			(3	)		(3	)
Net change in unrealized appreciation (depreciation) on investments:
Non-controlled/unaffiliated investments		466			(8	)		575			(375	)
Non-controlled/affiliated investments		142			(28	)		169			(165	)
Controlled/affiliated investments		76			(21	)		182			(212	)
Net change in unrealized appreciation (depreciation) on foreign currency forward contracts		2			—			3			2
Net change in unrealized gain (loss) on foreign currency		12			(6	)		18			16

Total net realized and unrealized gain (loss)	$	749		$	(132	)	$	870		$	(933	)

Net increase (decrease) in net assets resulting from operations	$	865		$	(55	)	$	1,064		$	(758	)

Per share information—basic and diluted
Net increase (decrease) in net assets resulting from operations (Earnings per Share)	$	5.75		$	(0.44	)	$	7.76		$	(6.07	)

Weighted average shares outstanding		150,356,079			123,806,337			137,129,503			124,831,125

(1)	See Note 2 for a discussion of the methodology employed by the Company in calculating the subordinated income incentive fee.

(2)	See Note 9 for a discussion of the Company’s financing arrangements.

See notes to unaudited consolidated financial statements.

FS KKR Capital Corp.

Unaudited Consolidated Statements of Changes in Net Assets

(in millions)


	Three Months Ended June 30,						Six Months Ended June 30,
	2021			2020			2021			2020
Operations
Net investment income (loss)	$	116		$	77		$	194		$	175
Net realized gain (loss) on investments, foreign currency forward contracts and foreign currency		51			(69	)		(77	)		(199	)
Net change in unrealized appreciation (depreciation) on investments and foreign currency forward contracts⁽¹⁾		686			(57	)		929			(750	)
Net change in unrealized gain (loss) on foreign currency		12			(6	)		18			16

Net increase (decrease) in net assets resulting from operations		865			(55	)		1,064			(758	)

Stockholder distributions⁽²⁾
Distributions to stockholders		(75	)		(75	)		(149	)		(170	)

Net decrease in net assets resulting from stockholder distributions		(75	)		(75	)		(149	)		(170	)

Capital share transactions⁽³⁾
Issuance of common stock		3,642			—			3,642			—
Repurchases of common stock		—			(7	)		—			(47	)

Net increase (decrease) in net assets resulting from capital share transactions		3,642			(7	)		3,642			(47	)

Total increase (decrease) in net assets		4,432			(137	)		4,557			(975	)
Net assets at beginning of period		3,221			3,028			3,096			3,866

Net assets at end of period	$	7,653		$	2,891		$	7,653		$	2,891

(1)	See Note 7 for a discussion of these financial instruments.

(2)	See Note 5 for a discussion of the sources of distributions paid by the Company.

(3)	See Note 3 for a discussion of the Company’s capital share transactions.

See notes to unaudited consolidated financial statements.

FS KKR Capital Corp.

Unaudited Consolidated Statements of Cash Flows

(in millions)


	Six Months Ended June 30,
	2021			2020
Cash flows from operating activities
Net increase (decrease) in net assets resulting from operations	$	1,064		$	(758	)
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:
Purchases of investments⁽¹⁾		(1,747	)		(1,549	)
Paid-in-kind interest		(34	)		(43	)
Proceeds from sales and repayments of investments		1,914			1,384
Net realized (gain) loss on investments		74			196
Net change in unrealized (appreciation) depreciation on investments⁽²⁾		(915	)		752
Net change in unrealized (appreciation) depreciation on foreign currency forward contracts		(2	)		(2	)
Accretion of discount		(19	)		(7	)
Amortization of deferred financing costs and discount		5			3
Unrealized (gain)/loss on borrowings in foreign currency		(13	)		(26	)
(Increase) decrease in receivable for investments sold and repaid		(152	)		520
(Increase) decrease in income receivable		(68	)		4
(Increase) decrease in deferred merger costs		1			—
(Increase) decrease in prepaid expenses and other assets		(5	)		(3	)
Increase (decrease) in payable for investments purchased		—			6
Increase (decrease) in management fees payable		29			(4	)
Increase (decrease) in subordinated income incentive fees payable		29			—
Increase (decrease) in administrative services expense		3			0
Increase (decrease) in interest payable		40			11
Increase (decrease) in other accrued expenses and liabilities		12			(7	)
Cash acquired in merger		293			—
Other assets acquired from merger net of other assets, net of unrealized depreciation on derivatives		17			—
Merger costs capitalized into purchase price		(8	)		—
Mark-to-market of merged debt		26			—

Net cash provided by (used in) operating activities		544			477

Cash flows from financing activities
Repurchases of common stock		—			(47	)
Stockholder distributions		(148	)		(191	)
Borrowings under financing arrangements⁽³⁾		1,042			1,155
Repayments of financing arrangements⁽³⁾		(1,125	)		(1,396	)
Deferred financing costs paid		(5	)		(9	)

Net cash provided by (used in) financing activities		(236	)		(488	)

Total increase (decrease) in cash		308			(11	)
Cash, and foreign currency at beginning of period		191			106

Cash, and foreign currency at end of period	$	499		$	95

Supplemental disclosure
Non-cash purchases of investments	$	(71	)	$	(81	)

Non-cash sales of investments	$	71		$	81

Local and excise taxes paid	$	9		$	7

(1)	Excludes $7,227 of cost of investments acquired from the 2021 Merger.

(2)	Excludes $11 of unrealized depreciation on unfunded commitments acquired from the 2021 Merger.

(3)	Excludes $3,794 of debt assumed from the 2021 Merger. See Note 9 for a discussion of the Company’s financing arrangements. During the six months ended June 30, 2021 and 2020, the Company paid $60 and $74, respectively, in interest expense on the financing arrangements.

See notes to unaudited consolidated financial statements.

FS KKR Capital Corp.

Unaudited Consolidated Statements of Cash Flows

(in millions)

Supplemental disclosure of non-cash operating and financing activities:

In connection with the 2021 Merger, the Company issued common stock of $3,650 and acquired investments at cost of $7,227 and other assets of $221 and assumed debt of $3,794 and other liabilities of $297.

See notes to unaudited consolidated financial statements.

FS KKR Capital Corp.

Unaudited Consolidated Schedule of Investments

As of June 30, 2021

(in millions, except share amounts)


Portfolio Company^(a)	Footnotes	Industry	Rate^(b)	Floor^(b)	Maturity	Principal Amount^(c)		Amortized Cost		Fair Value^(d)
Senior Secured Loans—First Lien—108.7%
5 Arch Income Fund 2 LLC	(q)(r)(w)(y)(z)	Diversified Financials	9.0%		11/18/23	$	116.0	$	84.9	$	82.4
5 Arch Income Fund 2 LLC	(w)(x)(y)(z)	Diversified Financials	9.0%		11/18/23		21.0		21.0		14.9
A10 Capital LLC	(m)(v)	Diversified Financials	L+650	1.0%	5/1/23		26.9		26.8		27.2
ABB CONCISE Optical Group LLC	(v)(aa)	Retailing	L+500	1.0%	6/15/23		0.7		0.7		0.7
Accuride Corp	(l)(v)(aa)	Capital Goods	L+525	1.0%	11/17/23		30.1		28.6		29.0
Advanced Dermatology & Cosmetic Surgery	(x)	Health Care Equipment & Services	L+625	1.0%	5/7/26		3.6		3.6		3.6
Advanced Dermatology & Cosmetic Surgery	(m)(t)(v)	Health Care Equipment & Services	L+625	1.0%	5/7/27		39.0		37.0		38.7
Advanced Dermatology & Cosmetic Surgery	(x)	Health Care Equipment & Services	L+625	1.0%	5/7/27		10.2		10.2		10.2
Advania Sverige AB	(v)(w)	Software & Services	R+610, 0.0% PIK (2.0% Max PIK)	0.0%	3/30/28	ISK	2,990.7		22.6		23.4
Advania Sverige AB	(v)(w)	Software & Services	S+610	0.0%	4/1/28	SEK	1,069.1		118.8		121.1
Advania Sverige AB	(w)(x)	Software & Services	S+610	0.0%	4/1/28		452.5		54.0		51.3
American Tire Distributors Inc	(v)(aa)	Automobiles & Components	L+600, 0.0% PIK (1.0% Max PIK)	1.0%	9/1/23	$	2.6		2.4		2.6
American Tire Distributors Inc	(v)(aa)	Automobiles & Components	L+750, 0.0% PIK (1.5% Max PIK)	1.0%	9/2/24		43.3		40.4		43.4
Amtek Global Technology Pte Ltd	(g)(w)(ad)	Automobiles & Components	E+500 PIK (E+500 Max PIK)	0.0%	4/4/24	€	55.8		67.9		59.2
Apex Group Limited	(v)(w)	Diversified Financials	L+700	1.3%	6/15/23	$	3.2		3.2		3.2
Apex Group Limited	(w)(x)	Diversified Financials	L+700	1.3%	6/15/23		3.2		3.2		3.2
Apex Group Limited	(f)(k)(l)(m)(t)(v)(w)	Diversified Financials	L+700	1.3%	6/16/25		87.8		82.6		88.7
Apex Group Limited	(v)(w)	Diversified Financials	L+700	1.5%	6/16/25	£	54.0		69.4		75.3
Arcos LLC/VA	(x)	Software & Services	L+575	1.0%	3/31/27	$	4.5		4.5		4.5
Arcos LLC/VA	(m)(v)	Software & Services	L+575	1.0%	3/31/28		35.0		32.9		34.4
Ardonagh Group Ltd	(v)(w)	Insurance	L+544, 2.3% PIK (2.3% Max PIK)	0.8%	7/14/26	£	0.8		1.0		1.1
Arrotex Australia Group Pty Ltd	(v)(w)	Pharmaceuticals, Biotechnology & Life Sciences	B+525	1.0%	7/10/24	A$	42.6		30.1		31.9
Arrotex Australia Group Pty Ltd	(w)(x)	Pharmaceuticals, Biotechnology & Life Sciences	B+525	1.0%	7/10/24		3.1		2.2		2.3
Aspect Software Inc	(v)	Software & Services	8.0% PIK (8.0% Max PIK)		9/15/21	$	0.3		0.2		0.3
ATX Networks Corp	(s)(v)(w)(y)(z)	Technology Hardware & Equipment	L+625, 1.5% PIK (1.5% Max PIK)	1.0%	12/31/23		79.8		47.3		51.3
Barbri Inc	(f)(k)(l)(m)(t)(v)	Consumer Services	L+575	0.8%	4/28/28		110.4		104.6		109.3
Barbri Inc	(x)	Consumer Services	L+575	0.8%	4/28/28		30.2		30.2		29.9
Belk Inc	(v)(y)(z)(aa)(ac)	Retailing	10.0%, 0.0% PIK (8.0% Max PIK)		7/31/25		64.4		39.0		50.1
Belk Inc	(v)(aa)(ac)	Retailing	L+750	1.0%	7/31/25		21.9		21.7		22.0
Berner Food & Beverage LLC	(i)(m)(v)	Food & Staples Retailing	L+875	1.0%	3/16/22		74.3		74.1		78.0
Borden (New Dairy Opco)	(v)(ac)	Food, Beverage & Tobacco	L+250	1.0%	7/20/25		19.0		18.1		19.0
Borden (New Dairy Opco)	(v)(ac)	Food, Beverage & Tobacco	L+700, 0.0% PIK (1.0% Max PIK)	1.0%	7/20/25		42.0		40.0		42.0
Borden Dairy Co	(v)(y)(z)(ac)	Food, Beverage & Tobacco	L+825	1.0%	7/6/23		65.0		25.4		—
Caprock Midstream LLC	(v)(aa)	Energy	L+475	0.0%	11/3/25		13.3		12.1		13.1
Charles Taylor PLC	(v)(w)	Diversified Financials	L+575	0.0%	1/24/27	£	5.4		6.8		7.4
Cimarron Energy Inc	(v)	Energy	L+900	1.0%	12/31/22	$	7.5		5.5		5.9
Constellis Holdings LLC	(v)(ac)	Capital Goods	L+750	1.0%	3/27/24		15.0		13.8		15.0
Corsearch Intermediate Inc	(m)(v)	Software & Services	L+575	1.0%	4/19/28		27.1		25.3		26.5
Corsearch Intermediate Inc	(v)	Software & Services	L+575	1.0%	4/19/28		2.9		2.9		2.9
Corsearch Intermediate Inc	(x)	Software & Services	L+575	1.0%	4/19/28		4.4		4.4		4.4
CSafe Global	(f)(k)(l)(m)(s)(t)(v)	Capital Goods	L+625	1.0%	12/23/27		140.0		131.2		141.4
CSafe Global	(v)	Capital Goods	L+625	1.0%	12/23/27		9.2		8.7		9.2
CSafe Global	(x)	Capital Goods	L+625	1.0%	12/23/27		7.3		7.3		7.3

See notes to unaudited consolidated financial statements.

FS KKR Capital Corp.

Unaudited Consolidated Schedule of Investments (continued)

As of June 30, 2021

(in millions, except share amounts)


Portfolio Company^(a)	Footnotes	Industry	Rate^(b)	Floor^(b)	Maturity	Principal Amount^(c)		Amortized Cost		Fair Value^(d)
Cubic Corp	(v)(aa)	Software & Services	L+425	0.8%	5/25/28	$	9.2	$	8.8	$	9.2
Dental Care Alliance Inc	(f)(k)(m)(t)(v)	Health Care Equipment & Services	L+625	0.8%	3/12/27		90.7		86.2		90.1
Dental Care Alliance Inc	(x)	Health Care Equipment & Services	L+625	0.8%	3/12/27		22.4		22.4		22.2
Distribution International Inc	(v)(aa)	Retailing	L+575	1.0%	12/15/23		27.4		25.4		26.6
Eagle Family Foods Inc	(v)	Food, Beverage & Tobacco	L+650	1.0%	6/14/23		8.5		8.2		8.5
Eagle Family Foods Inc	(x)	Food, Beverage & Tobacco	L+650	1.0%	6/14/23		6.8		6.8		6.8
Eagle Family Foods Inc	(f)(i)(k)(l)(m)(s)(v)	Food, Beverage & Tobacco	L+650	1.0%	6/14/24		87.9		84.2		87.9
Eagleclaw Midstream Ventures LLC	(v)(aa)	Energy	L+425	1.0%	6/24/24		8.8		8.0		8.7
EIF Van Hook Holdings LLC	(v)(aa)	Energy	L+525	0.0%	9/5/24		2.0		1.7		1.9
Entertainment Benefits Group LLC	(v)	Media & Entertainment	L+575, 2.5% PIK (2.5% Max PIK)	1.0%	9/30/24		0.2		0.2		0.2
Entertainment Benefits Group LLC	(v)	Media & Entertainment	L+575, 2.5% PIK (2.5% Max PIK)	1.0%	9/30/24		9.1		8.3		8.3
Entertainment Benefits Group LLC	(x)	Media & Entertainment	L+575, 2.5% PIK (2.5% Max PIK)	1.0%	9/30/24		1.2		1.2		1.1
Entertainment Benefits Group LLC	(f)(k)(l)(m)(v)	Media & Entertainment	L+575, 2.5% PIK (2.5% Max PIK)	1.0%	9/30/25		63.2		57.8		57.8
Fairway Group Holdings Corp	(v)(y)(z)(ac)	Food & Staples Retailing	12.0% PIK (12.0% Max PIK)		11/27/23		12.3		1.1		1.2
Fairway Group Holdings Corp	(v)(y)(z)(ac)	Food & Staples Retailing	10.0% PIK (10.0% Max PIK)		11/28/23		7.6		—		—
FloWorks International LLC	(i)(m)(v)	Capital Goods	L+650	1.0%	10/14/26		32.1		30.5		31.5
FloWorks International LLC	(v)	Capital Goods	L+650	1.0%	10/14/26		21.4		19.8		21.0
FloWorks International LLC	(x)	Capital Goods	L+650	1.0%	10/14/26		21.5		21.5		21.1
Foundation Consumer Brands LLC	(m)(v)	Pharmaceuticals, Biotechnology & Life Sciences	L+638	1.0%	2/12/27		105.2		100.9		105.7
Foundation Consumer Brands LLC	(x)	Pharmaceuticals, Biotechnology & Life Sciences	L+638	1.0%	2/12/27		6.6		6.6		6.6
Frontline Technologies Group LLC	(i)(m)(v)	Software & Services	L+575	1.0%	9/18/23		79.1		78.4		79.7
Frontline Technologies Group LLC	(v)	Software & Services	L+575	1.0%	9/18/23		22.1		20.9		22.2
Frontline Technologies Group LLC	(s)	Software & Services	L+575	1.0%	9/18/23		53.9		50.2		54.3
General Datatech LP	(f)(k)(l)(t)(v)	Software & Services	L+625	1.0%	6/18/27		181.5		179.7		179.7
Greystone Equity Member Corp	(v)(w)	Diversified Financials	L+725	3.8%	4/1/26		194.8		181.6		194.8
Heniff Transportation Systems LLC	(v)	Transportation	L+575	1.0%	12/3/24		6.5		6.2		6.4
Heniff Transportation Systems LLC	(x)	Transportation	L+575	1.0%	12/3/24		11.3		11.3		11.0
Heniff Transportation Systems LLC	(f)(i)(k)(l)(m)(v)	Transportation	L+575	1.0%	12/3/26		138.4		130.5		135.2
Heniff Transportation Systems LLC	(v)	Transportation	L+625	1.0%	12/3/26		19.5		18.6		19.5
Hibu Inc	(f)(k)(l)(m)(t)(v)	Commercial & Professional Services	L+625	1.0%	5/4/27		102.8		97.4		101.8
Higginbotham Insurance Agency Inc	(v)	Insurance	L+575	0.8%	11/25/26		49.5		45.9		49.9
Higginbotham Insurance Agency Inc	(x)	Insurance	L+575	0.8%	11/25/26		14.0		14.0		14.1
HM Dunn Co Inc	(v)(y)(z)(ad)	Capital Goods	L+875 PIK (L+875 Max PIK)	1.0%	12/31/21		66.5		15.6		16.9
HM Dunn Co Inc	(v)(ad)	Capital Goods	15.0% PIK (15.0% Max PIK)		12/31/21		20.0		11.5		11.5
Hudson Technologies Co	(v)(w)	Commercial & Professional Services	L+1,025	1.0%	10/10/23		82.5		73.5		74.1
Individual FoodService	(v)	Capital Goods	L+625	1.0%	11/22/24		0.4		0.4		0.4
Individual FoodService	(x)	Capital Goods	L+625	1.0%	11/22/24		4.3		4.3		4.3
Individual FoodService	(m)(s)(v)	Capital Goods	L+625	1.0%	11/22/25		71.0		66.2		71.4
Individual FoodService	(x)	Capital Goods	L+625	1.0%	11/22/25		4.8		4.8		4.8
Industria Chimica Emiliana Srl	(v)(w)	Pharmaceuticals, Biotechnology & Life Sciences	E+725	0.0%	6/30/26	€	71.2		80.6		87.4
Industria Chimica Emiliana Srl	(v)(w)	Pharmaceuticals, Biotechnology & Life Sciences	E+725	0.0%	9/27/26		17.6		20.3		21.6
Industry City TI Lessor LP	(s)(v)	Consumer Services	10.8%, 1.0% PIK (1.0% Max PIK)		6/30/26	$	31.9		31.9		34.9
J S Held LLC	(v)	Insurance	L+600	1.0%	7/1/25		6.3		6.1		6.3
J S Held LLC	(x)	Insurance	L+600	1.0%	7/1/25		7.8		7.8		7.8

See notes to unaudited consolidated financial statements.

FS KKR Capital Corp.

Unaudited Consolidated Schedule of Investments (continued)

As of June 30, 2021

(in millions, except share amounts)


Portfolio Company^(a)	Footnotes	Industry	Rate^(b)	Floor^(b)	Maturity	Principal Amount^(c)		Amortized Cost		Fair Value^(d)
J S Held LLC	(f)(i)(m)(s)(v)	Insurance	L+600	1.0%	7/1/25	$	150.6	$	144.3	$	152.1
J S Held LLC	(v)	Insurance	L+600	1.0%	7/1/25		2.9		2.9		2.9
J S Held LLC	(x)	Insurance	L+600	1.0%	7/1/25		29.5		29.5		29.9
Jarrow Formulas Inc	(f)(i)(k)(l)(m)(s)(t)(v)	Household & Personal Products	L+625	1.0%	11/30/26		189.0		178.7		190.4
Karman Space Inc	(m)(v)	Capital Goods	L+650	1.0%	12/21/25		54.2		51.0		54.4
Karman Space Inc	(v)	Capital Goods	L+650	1.0%	12/21/25		4.1		3.9		4.1
Karman Space Inc	(x)	Capital Goods	L+650	1.0%	12/21/25		1.4		1.4		1.4
KBP Investments LLC	(v)	Food & Staples Retailing	L+500	0.8%	5/26/27		9.0		8.2		8.9
KBP Investments LLC	(x)	Food & Staples Retailing	L+500	0.8%	5/26/27		27.4		27.4		27.1
Kellermeyer Bergensons Services LLC	(f)(i)(k)(l)(m)(s)(t)(v)	Commercial & Professional Services	L+650	1.0%	11/7/26		296.1		283.0		299.0
Kellermeyer Bergensons Services LLC	(x)	Commercial & Professional Services	L+650	1.0%	11/7/26		52.4		52.4		52.9
Lakeview Farms Inc	(l)(m)(v)	Food, Beverage & Tobacco	L+625	1.0%	6/10/27		47.3		45.3		47.3
Lakeview Farms Inc	(x)	Food, Beverage & Tobacco	L+625	1.0%	6/10/27		10.8		10.8		10.8
Lakeview Farms Inc	(x)	Food, Beverage & Tobacco	L+625	1.0%	6/10/27		45.6		45.6		45.1
Lakeview Farms Inc	(v)	Food, Beverage & Tobacco	L+625	1.0%	6/10/27		0.3		0.3		0.3
Lakeview Farms Inc	(x)	Food, Beverage & Tobacco	L+625	1.0%	6/10/27		6.5		6.5		6.5
Lexitas Inc	(i)(k)(l)(m)(v)	Commercial & Professional Services	L+600	1.0%	11/14/25		96.7		92.9		98.1
Lexitas Inc	(x)	Commercial & Professional Services	L+600	1.0%	11/14/25		20.9		20.9		21.2
Lexitas Inc	(x)	Commercial & Professional Services	L+600	1.0%	11/14/25		5.4		5.4		5.4
Lionbridge Technologies Inc	(f)(k)(s)(t)	Consumer Services	L+700	1.0%	12/29/25		70.8		65.2		70.8
Lipari Foods LLC	(f)(m)(s)(v)	Food & Staples Retailing	L+575	1.0%	1/6/25		274.1		261.9		276.9
Matchesfashion Ltd	(v)(w)	Consumer Durables & Apparel	L+463, 3.0% PIK (3.0% Max PIK)	0.0%	10/11/24		12.7		12.2		9.2
MB2 Dental Solutions LLC	(k)(l)(m)(t)(v)	Health Care Equipment & Services	L+600	1.0%	1/29/27		159.3		148.8		157.5
MB2 Dental Solutions LLC	(v)	Health Care Equipment & Services	L+600	1.0%	1/29/27		13.0		12.0		12.8
MB2 Dental Solutions LLC	(x)	Health Care Equipment & Services	L+600	1.0%	1/29/27		43.8		43.8		43.3
Miami Beach Medical Group LLC	(k)(l)(m)(t)(v)	Health Care Equipment & Services	L+650	1.0%	12/14/26		181.5		171.5		184.9
Micronics Filtration Holdings Inc	(v)(y)(z)(ac)	Capital Goods	7.5% PIK (7.5% Max PIK)		3/29/24		49.5		45.0		39.1
Monitronics International Inc	(f)(v)(aa)	Commercial & Professional Services	L+650	1.3%	3/29/24		18.9		17.0		18.4
Monitronics International Inc	(f)(aa)	Commercial & Professional Services	L+500	1.5%	7/3/24		1.9		1.8		1.9
Monitronics International Inc	(v)	Commercial & Professional Services	L+500	1.5%	7/3/24		28.2		25.3		26.9
Monitronics International Inc	(x)	Commercial & Professional Services	L+500	1.5%	7/3/24		41.8		41.8		39.8
Motion Recruitment Partners LLC	(m)(t)(v)	Commercial & Professional Services	L+650	1.0%	12/19/25		85.4		80.1		82.8
Motion Recruitment Partners LLC	(x)	Commercial & Professional Services	L+650	1.0%	12/19/25		59.6		59.6		57.7
NBG Home	(v)	Consumer Durables & Apparel	L+550	1.0%	4/26/24		68.5		68.3		58.4
NCI Inc	(v)	Software & Services	L+750, 0.0% PIK (2.5% Max PIK)	1.0%	8/15/24		78.8		77.5		68.4
New Era Technology Inc	(i)(l)(m)(t)(v)	Software & Services	L+625	1.0%	10/31/26		68.7		64.3		67.3
New Era Technology Inc	(x)	Software & Services	L+625	1.0%	10/31/26		38.0		38.0		37.3
New Era Technology Inc	(x)	Software & Services	L+625	1.0%	10/31/26		4.7		4.6		4.6
Omnimax International Inc	(i)(k)(l)(m)(v)	Capital Goods	L+675	1.0%	10/8/26		189.5		179.5		191.4
One Call Care Management Inc	(v)(aa)(ad)	Health Care Equipment & Services	L+550	0.8%	4/22/27		10.0		9.6		10.1
Parata Systems	(f)(v)	Health Care Equipment & Services	L+575	1.0%	6/30/27		132.1		131.1		131.1
Parata Systems	(x)	Health Care Equipment & Services	L+575	1.0%	6/30/27		5.5		5.5		5.5
Parata Systems	(x)	Health Care Equipment & Services	L+575	1.0%	6/30/27		22.0		22.0		21.9
P2 Energy Solutions Inc.	(v)	Software & Services	L+675	1.0%	1/31/25		5.1		4.7		4.8

See notes to unaudited consolidated financial statements.

FS KKR Capital Corp.

Unaudited Consolidated Schedule of Investments (continued)

As of June 30, 2021

(in millions, except share amounts)


Portfolio Company^(a)	Footnotes	Industry	Rate^(b)	Floor^(b)	Maturity	Principal Amount^(c)		Amortized Cost		Fair Value^(d)
P2 Energy Solutions Inc.	(x)	Software & Services	L+675	1.0%	1/31/25	$	10.1	$	10.1	$	9.6
P2 Energy Solutions Inc.	(f)(i)(k)(m)(s)(t)(v)	Software & Services	L+675	1.0%	2/2/26		250.3		232.4		238.0
Peak 10 Holding Corp	(v)(aa)	Telecommunication Services	L+350	0.0%	8/1/24		20.1		17.1		18.5
Peraton Corp	(v)(aa)	Capital Goods	L+375	0.8%	2/1/28		9.1		8.7		9.1
Petroplex Acidizing Inc	(v)(y)(z)(ac)	Energy	L+900 PIK (L+900 Max PIK)	1.0%	12/30/21		25.8		22.2		4.8
Polyconcept North America Inc	(v)(aa)	Household & Personal Products	L+450 PIK (L+450 Max PIK)	1.0%	8/16/23		22.1		21.9		21.6
Premium Credit Ltd	(v)(w)	Diversified Financials	L+650	0.0%	1/16/26	£	58.0		74.8		80.1
Production Resource Group LLC	(v)(ad)	Media & Entertainment	L+300, 5.5% PIK (5.5% Max PIK)	0.3%	8/21/24	$	127.0		117.1		127.0
Production Resource Group LLC	(v)(ad)	Media & Entertainment	L+500	1.0%	8/21/24		3.4		3.3		3.3
Production Resource Group LLC	(v)(ad)	Media & Entertainment	L+550 PIK (L+550 Max PIK)	1.0%	8/21/24		0.1		0.1		0.1
Production Resource Group LLC	(v)(ad)	Media & Entertainment	L+750, 0.0% PIK (3.1% Max PIK)	1.0%	8/21/24		60.3		55.5		60.3
Project Marron	(v)(w)	Consumer Services	B+575	0.0%	7/2/25	A$	36.5		24.4		26.0
Project Marron	(f)(v)(w)	Consumer Services	C+575	0.0%	7/2/25	C$	28.7		20.7		22.1
Propulsion Acquisition LLC	(f)(l)(s)(t)(v)	Capital Goods	L+700	1.0%	7/13/24	$	60.8		56.6		61.5
PSKW LLC	(i)(l)(s)(t)(v)	Health Care Equipment & Services	L+625	1.0%	3/9/26		296.2		283.9		299.2
Pure Fishing Inc	(v)(aa)	Consumer Durables & Apparel	L+450	0.0%	12/22/25		10.0		9.4		9.8
Qdoba Restaurant Corp	(m)(v)(aa)	Consumer Services	L+700	1.0%	3/21/25		11.0		10.9		10.9
Reliant Rehab Hospital Cincinnati LLC	(f)(i)(l)(m)(s)(v)	Health Care Equipment & Services	L+675	0.0%	9/2/24		160.9		152.1		158.8
Revere Superior Holdings Inc	(m)(v)	Software & Services	L+575	1.0%	9/30/26		23.2		22.4		23.4
Revere Superior Holdings Inc	(x)	Software & Services	L+575	1.0%	9/30/26		3.2		3.2		3.2
RSC Insurance Brokerage Inc	(v)	Insurance	L+550	1.0%	9/30/26		2.7		2.6		2.7
RSC Insurance Brokerage Inc	(x)	Insurance	L+550	1.0%	9/30/26		5.0		5.0		5.0
RSC Insurance Brokerage Inc	(f)(i)(k)(l)(m)(s)(v)	Insurance	L+550	1.0%	10/30/26		215.5		206.4		217.7
RSC Insurance Brokerage Inc	(v)	Insurance	L+550	1.0%	10/30/26		19.2		18.1		19.4
RSC Insurance Brokerage Inc	(x)	Insurance	L+550	1.0%	10/30/26		29.4		29.4		29.7
Safe-Guard Products International LLC	(f)(i)(m)(s)(t)(v)	Diversified Financials	L+500	0.5%	1/27/27		101.7		96.8		102.7
Sequa Corp	(m)(v)(aa)	Capital Goods	L+675, 0.0% PIK (1.0% Max PIK)	1.0%	11/28/23		16.0		15.2		16.2
Sequa Corp	(v)	Capital Goods	L+900, 0.0% PIK (9.5% Max PIK)	1.0%	7/31/25		16.4		15.9		17.3
Sequel Youth & Family Services LLC	(v)	Health Care Equipment & Services	L+450	1.0%	9/1/23		6.2		6.0		6.2
Sequel Youth & Family Services LLC	(v)(y)(z)	Health Care Equipment & Services	L+700	1.0%	9/1/23		29.2		19.3		11.4
Sequel Youth & Family Services LLC	(v)(y)(z)	Health Care Equipment & Services	L+800	1.0%	9/1/23		170.0		112.4		66.6
Sequential Brands Group Inc.	(k)(l)(v)	Consumer Durables & Apparel	L+875	0.0%	2/7/24		266.8		215.9		219.8
SIRVA Worldwide Inc	(v)(aa)	Commercial & Professional Services	L+550	0.0%	8/4/25		7.2		6.2		6.8
Sorenson Communications LLC	(f)(k)(t)(v)(aa)(ac)	Telecommunication Services	L+550	0.8%	3/17/26		63.4		59.9		64.0
Spins LLC	(m)(s)(t)(v)	Software & Services	L+575	1.0%	1/20/27		61.0		57.3		60.8
Spins LLC	(x)	Software & Services	L+575	1.0%	1/20/27		7.9		7.9		7.9
Sungard Availability Services Capital Inc	(v)(ac)	Software & Services	L+375, 3.8% PIK (3.8% Max PIK)	1.0%	7/1/24		3.7		3.6		3.9
Sungard Availability Services Capital Inc	(x)(ac)	Software & Services	L+375, 3.8% PIK (3.8% Max PIK)	1.0%	7/1/24		2.0		2.0		2.0
Sweeping Corp of America Inc	(m)(v)	Commercial & Professional Services	L+575	1.0%	11/30/26		49.2		46.6		49.6
Sweeping Corp of America Inc	(x)	Commercial & Professional Services	L+575	1.0%	11/30/26		6.9		6.9		6.9
Sweeping Corp of America Inc	(v)	Commercial & Professional Services	L+575	1.0%	11/30/26		0.6		0.5		0.6
Sweeping Corp of America Inc	(x)	Commercial & Professional Services	L+575	1.0%	11/30/26		5.1		5.1		5.1
Tangoe LLC	(f)(i)(m)(s)(v)	Software & Services	L+650	1.0%	11/28/25		190.7		170.3		166.0
ThermaSys Corp	(v)(ac)	Capital Goods	L+1,100 PIK (L+1,100 Max PIK)	1.0%	1/1/24		8.0		8.3		3.8

See notes to unaudited consolidated financial statements.

FS KKR Capital Corp.

Unaudited Consolidated Schedule of Investments (continued)

As of June 30, 2021

(in millions, except share amounts)


Portfolio Company^(a)	Footnotes	Industry	Rate^(b)	Floor^(b)	Maturity	Principal Amount^(c)		Amortized Cost			Fair Value^(d)
ThreeSixty Group	(m)(v)	Retailing	L+500, 2.5% PIK (2.5% Max PIK)	1.5%	3/1/23	$	48.2	$	47.9		$	47.6
ThreeSixty Group	(m)(v)	Retailing	L+500, 2.5% PIK (2.5% Max PIK)	1.5%	3/1/23		47.9		47.6			47.3
Total Safety US Inc	(f)(aa)	Capital Goods	L+600	1.0%	8/16/25		1.0		0.9			1.0
Trace3 Inc	(f)(i)(k)(l)(m)(s)(v)	Software & Services	L+675	1.0%	8/3/24		250.6		237.8			250.6
Transaction Services Group Ltd	(v)(w)	Software & Services	B+600	0.0%	10/15/26	A$	80.3		55.3			58.9
Transaction Services Group Ltd	(v)(w)	Software & Services	L+600	0.0%	10/15/26	$	36.0		34.0			35.2
Transaction Services Group Ltd	(v)(w)	Software & Services	L+600	0.0%	10/15/26	£	13.9		17.6			18.7
Truck-Lite Co LLC	(v)	Capital Goods	L+625	1.0%	12/13/24	$	1.8		1.6			1.8
Truck-Lite Co LLC	(x)	Capital Goods	L+625	1.0%	12/13/24		23.6		23.6			23.6
Truck-Lite Co LLC	(f)(i)(k)(m)(s)(v)	Capital Goods	L+625	1.0%	12/14/26		269.4		257.7			271.6
Warren Resources Inc	(v)(ad)	Energy	L+900, 1.0% PIK (1.0% Max PIK)	1.0%	5/22/24		21.3		19.7			21.3
West Corp	(l)(aa)	Software & Services	L+350	1.0%	10/10/24		2.6		2.3			2.5
West Corp	(s)(aa)	Software & Services	L+400	1.0%	10/10/24		12.4		11.1			12.1
Wheels Up Partners LLC	(v)	Transportation	L+855	1.0%	10/15/21		2.2		2.2			2.2
Wheels Up Partners LLC	(v)	Transportation	L+710	1.0%	6/30/24		16.4		16.4			16.4
Wheels Up Partners LLC	(v)	Transportation	L+710	1.0%	11/1/24		6.9		6.8			6.9
Wheels Up Partners LLC	(v)	Transportation	L+710	1.0%	12/21/24		26.2		26.0			26.4
Wheels Up Partners LLC	(v)	Transportation	L+855	1.0%	7/15/22		4.2		4.2			4.2
Woolpert Inc	(f)(k)(l)(m)(t)(v)	Capital Goods	L+600	1.0%	4/5/28		146.2		138.5			144.7
Woolpert Inc	(x)	Capital Goods	L+600	1.0%	4/5/28		73.1		73.1			72.4

Total Senior Secured Loans—First Lien									8,914.1			9,139.1
Unfunded Loan Commitments									(822.8	)		(822.8	)

Net Senior Secured Loans—First Lien									8,091.3			8,316.3

Senior Secured Loans—Second Lien—23.9%
Advanced Lighting Technologies Inc	(v)	Materials	L+600	1.0%	3/16/27	$	10.3		10.0			10.2
Ammeraal Beltech Holding BV	(f)(s)(v)(w)	Capital Goods	L+800	1.0%	9/12/26		51.3		46.2			50.2
Amtek Global Technology Pte Ltd	(g)(v)(w)(y)(z)(ad)	Automobiles & Components	E+500 PIK (E+500 Max PIK)	0.0%	4/4/24	€	33.9		38.8			1.7
BCA Marketplace PLC	(v)(w)	Retailing	L+825	0.0%	11/22/27	£	28.0		36.7			39.1
Belk Inc	(v)(y)(z)(ac)	Retailing	10.0% PIK (10.0% Max PIK)		7/31/25	$	24.3		4.2			4.0
Byrider Finance LLC	(u)(v)	Automobiles & Components	L+1,000, 0.5% PIK (0.5% Max PIK)	1.3%	6/7/22		54.1		51.4			54.2
Constellis Holdings LLC	(f)(v)(ac)	Capital Goods	L+100, 10.0% PIK (10.0% Max PIK)	1.0%	3/27/25		13.5		12.4			13.5
Cubic Corp	(v)	Software & Services	L+763	0.8%	5/25/29		54.8		51.6			54.0
Culligan International Co	(m)(v)	Household & Personal Products	L+850	1.0%	12/13/24		85.0		84.5			85.0
Datatel Inc	(v)	Software & Services	L+800	1.0%	10/9/28		179.2		169.7			180.5
Excelitas Technologies Corp	(l)(aa)	Technology Hardware & Equipment	L+750	1.0%	12/1/25		6.6		6.1			6.7
Fairway Group Holdings Corp	(v)(y)(z)(ac)	Food & Staples Retailing	L+1,100 PIK (L+1,100 Max PIK)		2/24/24		6.9		—			—
Gruden Acquisition Inc	(s)(v)(aa)	Transportation	L+850	1.0%	8/18/23		35.0		32.8			35.0
Misys Ltd	(v)(w)(aa)	Software & Services	L+725	1.0%	6/13/25		21.8		20.3			22.1
NBG Home	(v)	Consumer Durables & Apparel	L+1,275 PIK (L+1,275 Max PIK)	1.0%	9/30/24		29.4		26.2			21.3
NEP Broadcasting LLC	(v)(aa)	Media & Entertainment	L+700	0.0%	10/19/26		6.8		6.1			6.7
OEConnection LLC	(f)(s)(v)	Software & Services	L+825	0.0%	9/25/27		77.0		73.3			77.0
Ontic Engineering & Manufacturing Inc	(f)(t)(v)	Capital Goods	L+850	0.0%	10/29/27		26.8		24.9			27.1

See notes to unaudited consolidated financial statements.

FS KKR Capital Corp.

Unaudited Consolidated Schedule of Investments (continued)

As of June 30, 2021

(in millions, except share amounts)


Portfolio Company^(a)	Footnotes	Industry	Rate^(b)	Floor^(b)	Maturity	Principal Amount^(c)		Amortized Cost		Fair Value^(d)
Paradigm Acquisition Corp	(l)(v)(aa)	Health Care Equipment & Services	L+750	0.0%	10/26/26	$	2.3	$	2.2	$	2.3
Peraton Corp	(v)	Capital Goods	L+775	0.8%	2/1/29		156.4		149.6		154.1
Peraton Corp	(s)(v)	Capital Goods	L+800	1.0%	2/1/29		175.0		164.9		176.3
Petrochoice Holdings Inc	(v)	Capital Goods	L+875	1.0%	8/21/23		65.0		64.3		57.0
Polyconcept North America Inc	(v)	Household & Personal Products	11.0% PIK (11.0% Max PIK)		2/16/24		9.5		9.4		8.9
Pretium Packaging LLC	(m)(s)(v)	Household & Personal Products	L+825	0.8%	11/6/28		15.1		14.4		15.4
Pure Fishing Inc	(f)(m)(v)	Consumer Durables & Apparel	L+838	1.0%	12/31/26		177.0		170.1		176.9
Rise Baking Company	(f)(l)(m)(v)	Food, Beverage & Tobacco	L+800	1.0%	8/9/26		48.8		46.9		47.9
Sequa Corp	(m)(v)(aa)	Capital Goods	L+1,075, 0.0% PIK (6.8% Max PIK)	1.0%	4/28/24		5.9		5.7		5.8
SIRVA Worldwide Inc	(v)(aa)	Commercial & Professional Services	L+950	0.0%	8/3/26		6.5		5.3		5.8
Solera LLC	(v)	Software & Services	L+800	1.0%	6/4/29		261.6		243.2		253.8
Sorenson Communications LLC	(m)(s)(u)(v)(ac)	Telecommunication Services	L+1,150 PIK (L+1,150 Max PIK)		3/17/26		6.9		6.5		6.9
Sungard Availability Services Capital Inc	(v)(ac)	Software & Services	L+400, 2.8% PIK (2.8% Max PIK)	1.0%	8/1/24		14.4		13.4		14.3
Vantage Specialty Chemicals Inc	(v)(aa)	Materials	L+825	1.0%	10/27/25		0.8		0.7		0.7
Vestcom International Inc	(m)(v)	Consumer Services	L+800	1.0%	12/19/24		70.5		70.2		70.5
WireCo WorldGroup Inc	(m)(v)(aa)	Capital Goods	L+900	1.0%	9/30/24		16.2		14.7		15.7
Wittur Holding GmbH	(v)(w)	Capital Goods	E+850, 0.5% PIK (0.5% Max PIK)	0.0%	9/23/27	€	112.5		120.0		127.0

Total Senior Secured Loans—Second Lien									1,796.7		1,827.6

Other Senior Secured Debt—2.4%
Angelica Corp	(h)(y)(z)	Health Care Equipment & Services	10.0% PIK (10.0% Max PIK)		12/30/22	$	50.8		42.3		28.0
Black Swan Energy Ltd	(v)(w)	Energy	9.0%		1/20/24		10.0		9.7		10.0
JW Aluminum Co	(s)(v)(aa)(ad)	Materials	10.3%		6/1/26		76.5		75.4		80.7
One Call Care Management Inc	(v)(ad)	Health Care Equipment & Services	8.5% PIK (8.5% Max PIK)		11/1/28		45.1		42.4		43.7
TruckPro LLC	(v)(aa)	Capital Goods	11.0%		10/15/24		9.2		9.1		10.1
Velvet Energy Ltd	(v)(w)	Energy	9.0%		10/5/23		15.0		13.7		13.3

Total Other Senior Secured Debt									192.6		185.8

Subordinated Debt—1.3%
Ardonagh Group Ltd	(v)(w)(aa)	Insurance	12.8% PIK (12.8% Max PIK)		1/15/27		0.8		0.8		0.9
ClubCorp Club Operations Inc	(v)(aa)	Consumer Services	8.5%		9/15/25		37.3		35.2		36.8
Hilding Anders	(v)(w)(y)(ad)	Consumer Durables & Apparel				€	24.8		26.9		—
Hilding Anders	(v)(w)(y)(ad)	Consumer Durables & Apparel					110.5		—		—
Hilding Anders	(v)(w)(y)(z)(ad)	Consumer Durables & Apparel	13.0% PIK (13.0% Max PIK)		11/30/25		126.0		99.4		55.4
Home Partners of America Inc	(v)(ac)	Real Estate	L+625	1.0%	10/8/22	$	3.5		3.5		3.5
Intelsat Jackson Holdings SA	(v)(w)(y)(z)(aa)	Media & Entertainment	5.5%		8/1/23		3.7		2.0		2.1

Total Subordinated Debt									167.8		98.7

See notes to unaudited consolidated financial statements.

FS KKR Capital Corp.

Unaudited Consolidated Schedule of Investments (continued)

As of June 30, 2021

(in millions, except share amounts)


Portfolio Company^(a)	Footnotes	Industry	Rate^(b)	Floor^(b)	Maturity	Principal Amount^(c)/ Shares		Amortized Cost		Fair Value^(d)
Asset Based Finance—24.9%
801 5th Ave, Seattle, Private Equity	(v)(w)(y)(ad)	Real Estate					8,554,983	$	14.1	$	22.0
801 5th Ave, Seattle, Structure Mezzanine	(v)(w)(ad)	Real Estate	8.0%, 3.0% PIK (3.0% Max PIK)		12/19/29	$	55.5		53.4		55.5
Abacus JV, Private Equity	(v)(w)	Insurance					40,241,018		39.2		42.5
Accelerator Investments Aggregator LP, Private Equity	(v)(w)(y)	Diversified Financials					5,397,365		6.3		4.7
Altavair AirFinance, Private Equity	(v)(w)	Capital Goods					118,091,072		119.0		130.4
Australis Maritime, Common Stock	(v)(w)	Transportation					49,115,701		47.4		49.8
Avida Holding AB, Common Stock	(v)(w)(y)(ad)	Diversified Financials					405,023,756		44.0		47.1
Bank of Ireland, Class B Credit Linked Floating Rate Note	(g)(w)	Banks	L+1,185		12/4/27	$	14.7		14.7		14.3
Byrider Finance LLC, Structured Mezzanine	(v)	Automobiles & Components	L+1,050	0.3%	6/3/28	$	3.7		3.7		3.7
Byrider Finance LLC, Structured Mezzanine	(x)	Automobiles & Components	L+1,050	0.3%	6/3/28	$	19.3		19.3		19.3
Callodine Commercial Finance LLC, 2L Term Loan A	(v)	Diversified Financials	L+900	1.0%	11/3/25	$	125.0		117.3		123.9
Callodine Commercial Finance LLC, 2L Term Loan B	(x)	Diversified Financials	L+900	1.0%	11/3/25	$	40.3		40.3		40.0
Capital Automotive LP, Private Equity	(v)(w)	Real Estate					21,640,936		23.7		27.8
Capital Automotive LP, Structured Mezzanine	(v)(w)	Real Estate	11.0%		12/22/28	$	42.8		41.0		42.9
Global Jet Capital LLC, Preferred Stock	(j)(u)(v)(y)	Commercial & Professional Services					149,494,590		69.4		—
Global Jet Capital LLC, Structured Mezzanine	(v)	Commercial & Professional Services	15.0% PIK (15.0% Max PIK)		9/3/25	$	5.6		4.5		4.7
Global Jet Capital LLC, Structured Mezzanine	(v)	Commercial & Professional Services	15.0% PIK (15.0% Max PIK)		4/30/25	$	27.3		21.7		22.6
Global Jet Capital LLC, Structured Mezzanine	(j)(u)(v)(w)	Commercial & Professional Services	15.0% PIK (15.0% Max PIK)		12/4/25	$	261.3		212.2		215.9
Global Jet Capital LLC, Structured Mezzanine	(v)	Commercial & Professional Services	15.0% PIK (15.0% Max PIK)		1/30/25	$	4.3		3.4		3.5
Global Jet Capital LLC, Structured Mezzanine	(v)	Commercial & Professional Services	15.0% PIK (15.0% Max PIK)		12/2/26	$	48.4		39.1		40.0
Global Jet Capital LLC, Structured Mezzanine	(v)	Commercial & Professional Services	15.0% PIK (15.0% Max PIK)		2/17/26	$	24.6		18.7		20.3
Global Jet Capital LLC, Structured Mezzanine	(v)(m)	Commercial & Professional Services	15.0% PIK (15.0% Max PIK)		4/14/26	$	38.1		31.4		31.5
Global Jet Capital LLC, Structured Mezzanine	(v)	Commercial & Professional Services	15.0% PIK (15.0% Max PIK)		9/29/25	$	5.3		4.2		4.4
Global Jet Capital LLC, Structured Mezzanine	(j)(u)(v)(m)(w)	Commercial & Professional Services	15.0% PIK (15.0% Max PIK)		1/29/26	$	22.4		18.2		18.5
Global Jet Capital LLC, Structured Mezzanine	(j)(u)(v)(w)	Commercial & Professional Services	15.0% PIK (15.0% Max PIK)		12/9/25	$	42.7		34.7		35.3
Global Lending Services LLC, Private Equity	(v)(m)	Diversified Financials					18,291,830		20.5		20.9
Global Lending Services LLC, Private Equity	(v)(w)	Diversified Financials					14,670,021		16.6		18.6
Home Partners JV, Structured Mezzanine	(v)(w)(ac)	Real Estate	11.0% PIK (11.0% Max PIK)		3/25/29	$	85.4		80.3		85.4
Home Partners JV, Private Equity	(v)(w)(y)(ac)	Real Estate					4,127,355		5.4		6.3
Home Partners JV, Common Stock	(v)(w)(y)(ac)	Real Estate					32,659,547		47.6		53.8
Home Partners JV 2, Structured Mezzanine	(v)(w)(ac)	Real Estate	11.0% PIK (11.0% Max PIK)		3/20/30	$	1.3		1.2		1.3
Home Partners JV 2, Structured Mezzanine	(w)(x)(ac)	Real Estate	11.0% PIK (11.0% Max PIK)		3/20/30	$	15.6		15.6		15.6
Home Partners JV 2, Private Equity	(v)(w)(y)(ac)	Real Estate					23,006		0.0		0.0
Home Partners JV 2, Private Equity	(v)(w)(y)(ac)	Real Estate					609,751		0.6		0.6
Jet Edge International LLC, Term Loan	(v)	Transportation	10.0%, 2.0% PIK (2.0% Max PIK)		4/2/26	$	20.2		19.3		20.0
Jet Edge International LLC, Term Loan	(x)	Transportation	10.0%, 2.0% PIK (2.0% Max PIK)		4/2/26	$	32.1		32.1		31.7
Kilter Finance, Private Equity	(v)(w)(y)(ad)	Insurance					536,709		0.5		0.5
Kilter Finance, Preferred Stock	(v)(w)(ad)	Insurance	6.0%, 6.0% PIK (6.0% Max PIK)				34,060,490		32.6		34.1
KKR Central Park Leasing Aggregator L.P., Partnership Interest	(v)(w)(y)(z)	Capital Goods			5/31/23		N/A		39.1		28.1

See notes to unaudited consolidated financial statements.

FS KKR Capital Corp.

Unaudited Consolidated Schedule of Investments (continued)

As of June 30, 2021

(in millions, except share amounts)


Portfolio Company^(a)	Footnotes		Industry	Rate^(b)		Floor^(b)		Maturity		Principal Amount^(c)/ Shares		Amortized Cost			Fair Value^(d)
KKR Zeno Aggregator LP (K2 Aviation), Partnership Interest		(v)(w)(y)	Capital Goods								23,664,954	$	23.0		$	22.7
Lenovo Group Ltd, Structured Mezzanine		(v)(w)	Technology Hardware & Equipment		8.0%				6/22/22	€	9.3		10.4			11.0
Lenovo Group Ltd, Structured Mezzanine		(v)(w)	Technology Hardware & Equipment		8.0%				6/22/22	$	19.5		18.0			19.5
Lenovo Group Ltd, Structured Mezzanine		(v)(w)	Technology Hardware & Equipment		12.0%				6/22/22	$	12.4		11.4			12.4
Lenovo Group Ltd, Structured Mezzanine		(v)(w)	Technology Hardware & Equipment		12.0%				6/22/22	€	5.9		6.6			7.0
Luxembourg Life Fund—Absolute Return Fund III, Term Loan		(v)(w)	Insurance		L+925		0.0%		5/27/26	$	6.9		6.5			6.9
Luxembourg Life Fund—Absolute Return Fund III, Term Loan		(w)(x)	Insurance		L+925		0.0%		5/27/26	$	1.1		1.1			1.1
Luxembourg Life Fund—Long Term Growth Fund, Term Loan		(v)(w)	Insurance		L+925		0.0%		4/1/23	$	19.1		18.3			19.0
Music IP, Private Equity		(v)(w)	Media & Entertainment								35,149,102		33.7			35.2
NewStar Clarendon 2014-1A Class D		(v)(w)(y)	Diversified Financials						1/25/27	$	8.3		2.6			2.9
Opendoor Labs Inc, 2L Term Loan		(v)(w)	Real Estate		10.0%				1/23/26	$	151.0		148.9			151.0
Orchard Marine Limited, Class B Common Stock		(v)(w)(y)(ac)	Transportation								1,964		3.1			—
Orchard Marine Limited, Series A Preferred Stock		(v)(w)(y)(ac)	Transportation								62,976		62.0			32.5
Pretium Partners LLC P1, Structured Mezzanine		(v)(w)	Real Estate		2.8%, 5.3% PIK (5.3% Max PIK)				10/22/26	$	6.7		6.2			6.7
Pretium Partners LLC P2, Structured Mezzanine		(v)(w)	Real Estate		2.0%, 7.5% PIK (7.5% Max PIK)				5/29/25	$	15.3		14.2			15.5
Prime ST LLC, Private Equity		(v)(w)(y)(ad)	Real Estate								6,634,509		8.3			10.6
Prime ST LLC, Structured Mezzanine		(v)(w)(ad)	Real Estate		5.0%, 6.0% PIK (6.0% Max PIK)				3/12/30	$	49.4		47.3			49.4
Star Mountain Diversified Credit Income Fund III, LP, Private Equity		(o)(w)	Diversified Financials								21,000,000		21.0			20.7
Wind River CLO Ltd. 2012 1A Class Subord. B		(v)(w)(y)	Diversified Financials						1/15/26	$	42.5		13.8			0.5
Toorak Capital Funding LLC, Membership Interest		(v)(w)(y)(ad)	Real Estate								N/A		1.9			1.7
Toorak Capital Partners LLC, Private Equity		(v)(ad)	Real Estate								N/A		198.2			249.4
Toorak Capital Partners LLC, Structured Mezzanine		(x)(ad)	Real Estate		L+650 PIK (L+650 Max PIK)				11/11/21	$	20.0		20.0			20.0

Total Asset Based Finance													2,028.8			2,033.2
Unfunded commitments													(128.4	)		(128.4	)

Net Asset Based Finance													1,900.4			1,904.8

Credit Opportunities JV, LLC—18.2%
Credit Opportunities Partners JV, LLC		(v)(w)(ad)	Diversified Financials							$	1,462.3		1,396.7			1,396.1

Total Credit Opportunities Partners JV, LLC													1,396.7			1,396.1


Portfolio Company^(a)	Footnotes		Industry	Rate^(b)		Floor^(b)		Maturity		Number of Shares		Amortized Cost			Fair Value^(d)
Equity/Other—13.1%^(e)
Abaco Energy Technologies LLC, Common Stock		(v)(y)	Energy								3,055,556	$	0.2		$	0.3
Abaco Energy Technologies LLC, Preferred Stock		(v)(y)	Energy								12,734,481		1.5			1.6
Alion Science & Technology Corp, Class A Membership Interest		(v)(y)	Capital Goods								7,350,267		7.4			14.2

See notes to unaudited consolidated financial statements.

FS KKR Capital Corp.

Unaudited Consolidated Schedule of Investments (continued)

As of June 30, 2021

(in millions, except share amounts)



Portfolio Company^(a)	Footnotes	Industry	Rate^(b)	Floor^(b)	Maturity	Number of Shares		Amortized Cost		Fair Value^(d)
Amtek Global Technology Pte Ltd, Common Stock	(g)(v)(w)(y)(ad)	Automobiles & Components					7,046,126	$	—	$	—
Amtek Global Technology Pte Ltd, Ordinary Shares	(g)(w)(y)(ad)	Automobiles & Components					5,735,804,056		30.7		—
Amtek Global Technology Pte Ltd, Private Equity	(g)(w)(y)(ad)	Automobiles & Components					4,097		—		—
Angelica Corp, Limited Partnership Interest	(h)(y)	Health Care Equipment & Services					877,044		47.6		—
Ap Plasman Inc, Warrant	(v)(w)(y)	Capital Goods			5/25/26		6,985		2.5		—
Arcos LLC/VA, Preferred Stock	(v)	Software & Services	L+950 PIK (L+950 Max PIK)	1.0%	4/30/31		15,000,000		13.9		14.6
Ardonagh Ltd, Ordinary Shares	(v)(w)(y)	Insurance					16,450		—		—
Ardonagh Ltd, Ordinary Shares	(v)(w)(y)	Insurance					116,814		0.2		0.2
Ardonagh Ltd, Preferred Stock	(v)(w)(y)	Insurance					6,113,719		9.1		12.1
Arena Energy LP, Warrants	(v)(y)	Energy					68,186,525		0.4		0.4
Ascent Resources Utica Holdings LLC / ARU Finance Corp, Common Stock	(p)(y)	Energy					10,193		9.7		2.3
Ascent Resources Utica Holdings LLC / ARU Finance Corp, Trade Claim	(p)(y)	Energy					86,607,143		19.4		19.7
Aspect Software Inc, Common Stock	(l)(s)(v)(y)	Software & Services					1,309,955		2.3		2.6
Aspect Software Inc, Warrant	(l)(s)(v)(y)	Software & Services			1/15/24		181,730		0.3		0.4
ATX Networks Corp, Common Stock	(v)(w)(y)	Technology Hardware & Equipment					156,123		—		—
AVF Parent LLC, Trade Claim	(v)(y)	Retailing					44,507		—		—
Belk Inc, Common Stock	(v)(y)(ac)	Retailing					94,950		—		—
Borden (New Dairy Opco), Common Stock	(h)(n)(y)(ac)	Food, Beverage & Tobacco					11,167,000		9.1		9.5
Catalina Marketing Corp, Common Stock	(v)(y)	Media & Entertainment					6,522		—		—
CDS US Intermediate Holdings Inc, Warrant	(v)(w)(y)	Media & Entertainment					2,023,714		—		—
Cengage Learning, Inc, Common Stock	(v)(y)	Media & Entertainment					227,802		7.5		4.6
Charlotte Russe Inc, Common Stock	(v)(y)(ac)	Retailing					22,575		12.5		—
Chisholm Oil & Gas Operating LLC, Series A Units	(n)(o)(v)(y)	Energy					300,000		0.1		—
Cimarron Energy Inc, Common Stock	(v)(y)	Energy					4,302,293		—		—
Cimarron Energy Inc, Participation Option	(v)(y)	Energy					25,000,000		—		—
Constellis Holdings LLC, Private Equity	(f)(v)(y)(ac)	Capital Goods					849,702		10.3		11.2
Crossmark Holdings Inc, Warrant	(v)(y)	Commercial & Professional Services					8,358		—		—
CTI Foods Holding Co LLC, Common Stock	(v)(y)	Food, Beverage & Tobacco					5,892		0.7		0.1
Cubic Corp, Preferred Stock	(v)	Software & Services	11.0% PIK (11.0% MAX PIK)		12/31/69		42,141,600		39.7		41.5
Empire Today LLC, Common Stock	(v)	Retailing					1,005		5.7		8.0
Envigo Laboratories Inc, Series A Warrant	(s)(y)	Health Care Equipment & Services			4/29/24		10,924		—		—
Envigo Laboratories Inc, Series B Warrant	(s)(y)	Health Care Equipment & Services			4/29/24		17,515		—		—
Fairway Group Holdings Corp, Common Stock	(v)(y)(ac)	Food & Staples Retailing					103,091		—		—
Fox Head Inc, Common Stock	(j)(v)(y)	Consumer Durables & Apparel					10,000,000		8.0		8.7
Fronton BV, Common Stock	(o)(y)(ac)	Consumer Services					14,943		—		1.6
Genesys Telecommunications Laboratories Inc, Class A Shares	(v)(y)	Technology Hardware & Equipment					40,529		—		—
Genesys Telecommunications Laboratories Inc, Ordinary Shares	(v)(y)	Technology Hardware & Equipment					41,339		—		—
Genesys Telecommunications Laboratories Inc, Preferred Stock	(v)(y)	Technology Hardware & Equipment					1,050,465		—		—

See notes to unaudited consolidated financial statements.

FS KKR Capital Corp.

Unaudited Consolidated Schedule of Investments (continued)

As of June 30, 2021

(in millions, except share amounts)



Portfolio Company^(a)	Footnotes	Industry	Rate^(b)	Floor^(b)	Maturity	Number of Shares		Amortized Cost		Fair Value^(d)
Harvey Industries Inc, Common Stock	(v)(y)	Capital Goods					5,000,000	$	2.2	$	4.5
Hilding Anders, Class C Common Stock	(v)(w)(y)(ad)	Consumer Durables & Apparel					213,201		—		—
Hilding Anders, Class B Common Stock	(v)(w)(y)(ad)	Consumer Durables & Apparel					574,791		0.0		—
Hilding Anders, Class A Common Stock	(v)(w)(y)(ad)	Consumer Durables & Apparel					4,503,411		0.1		—
Hilding Anders, Equity Options	(v)(w)(y)(ad)	Consumer Durables & Apparel			11/30/25		236,160,807		15.0		—
HM Dunn Co Inc, Preferred Stock, Series A	(s)(v)(y)(ad)	Capital Goods					15,000		—		—
HM Dunn Co Inc, Preferred Stock, Series B	(s)(v)(y)(ad)	Capital Goods					15,000		—		—
Home Partners of America Inc, Common Stock	(v)(y)(ac)	Real Estate					81,625		83.6		208.1
Home Partners of America Inc, Warrant	(v)(y)(ac)	Real Estate			8/7/24		2,675		0.3		4.2
Imagine Communications Corp, Common Stock	(v)(y)	Media & Entertainment					33,034		3.8		3.0
Jones Apparel Holdings, Inc., Common Stock	(v)(y)	Consumer Durables & Apparel					5,451		0.9		—
JW Aluminum Co, Common Stock	(j)(u)(v)(y)(ad)	Materials					2,105		0.0		—
JW Aluminum Co, Preferred Stock	(j)(u)(v)(ad)	Materials	12.5% PIK (12.5% Max PIK)		2/15/28		15,279		162.6		111.0
Maverick Natural Resources LLC, Common Stock	(n)(o)(y)	Energy					259,211		84.4		115.4
MB Precision Holdings LLC, Class A—2 Units	(n)(o)(y)	Capital Goods					8,081,288		0.5		—
Miami Beach Medical Group LLC, Common Stock	(v)(y)	Health Care Equipment & Services					5,000,000		4.8		5.2
Micronics Filtration Holdings Inc, Common Stock	(v)(y)(ac)	Capital Goods					53,073		0.6		—
Micronics Filtration Holdings Inc, Preferred Stock, Series A	(v)(y)(ac)	Capital Goods					55		0.6		—
Micronics Filtration Holdings Inc, Preferred Stock, Series B	(v)(y)(ac)	Capital Goods					23		0.2		—
Micronics Filtration Holdings Inc, Preferred Stock, Series B PIK	(v)(y)(ac)	Capital Goods					112,780		—		—
Micronics Filtration Holdings Inc, Preferred Stock, Series C PIK	(v))(y)(ac)	Capital Goods					54,000		—		—
Misys Ltd, Preferred Stock	(v)(w)	Software & Services	L+1,025 PIK (L+1,025 Max PIK)				64,566,128		58.9		63.9
NBG Home, Common Stock	(v)(y)	Consumer Durables & Apparel					1,903		2.6		0.2
Nine West Holdings Inc, Common Stock	(v)(y)	Consumer Durables & Apparel					5,451		6.5		—
One Call Care Management Inc, Common Stock	(v)(y)(ad)	Health Care Equipment & Services					69,745		4.6		4.4
One Call Care Management Inc, Preferred Stock A	(v)(y)(ad)	Health Care Equipment & Services					743,985		48.5		47.4
One Call Care Management Inc, Preferred Stock B	(v)(ad)	Health Care Equipment & Services	9.0% PIK (9.0% MAX PIK)		10/25/29		15,344,693		15.8		17.7
Petroplex Acidizing Inc, Preferred Stock A	(v)(ac)	Energy					24,888,439		4.8		—
Petroplex Acidizing Inc, Warrant	(v)(y)(ac)	Energy			12/15/26		8		—		—
Polyconcept North America Inc, Class A—1 Units	(v)(y)	Household & Personal Products					30,000		3.0		2.2
Production Resource Group LLC, Preferred Stock, Series A PIK	(v)(y)(ad)	Media & Entertainment			8/21/24		434,250		18.1		19.7
Production Resource Group LLC, Preferred Stock, Series B PIK	(v)(y)(ad)	Media & Entertainment			8/21/24		140		—		—
Professional Plumbing Group Inc, Common Stock	(j)(y)	Materials					3,000,000		2.6		2.8
Proserv Acquisition LLC, Class A Common Units	(v)(w)(y)(ac)	Energy					2,635,005		33.5		4.5
Proserv Acquisition LLC, Class A Preferred Units	(v)(w)(y)(ac)	Energy					837,780		5.4		9.5
Quorum Health Corp, Trade Claim	(v)(y)	Health Care Equipment & Services					8,301,000		0.7		0.8
Quorum Health Corp, Trust Initial Funding Units	(v)(y)	Health Care Equipment & Services					143,400		0.2		0.2

See notes to unaudited consolidated financial statements.

FS KKR Capital Corp.

Unaudited Consolidated Schedule of Investments (continued)

As of June 30, 2021

(in millions, except share amounts)



Portfolio Company^(a)	Footnotes		Industry	Rate^(b)	Floor^(b)	Maturity	Number of Shares		Amortized Cost		Fair Value^(d)
Ridgeback Resources Inc, Common Stock		(j)(u)(v)(w)(y)	Energy					1,969,418	$	9.1	$	9.1
Sequential Brands Group Inc., Common Stock		(j)(v)(y)	Consumer Durables & Apparel					18,519		2.8		—
Sorenson Communications LLC, Common Stock		(j)(u)(v)(y)(ac)	Telecommunication Services					89,959		42.5		94.8
Sound United LLC, Common Stock		(v)(ad)	Consumer Durables & Apparel					12,857,143		17.3		64.6
Stuart Weitzman Inc, Common Stock		(v)(y)	Consumer Durables & Apparel					5,451		—		—
Sungard Availability Services Capital Inc, Common Stock		(s)(u)(v)(y)(ac)	Software & Services					262,516		6.9		5.0
Swift Worldwide Resources Holdco Ltd, Common Stock		(v)(y)	Energy					1,250,000		1.2		1.3
ThermaSys Corp, Common Stock		(u)(v)(y)(ac)	Capital Goods					17,383,026		10.2		—
ThermaSys Corp, Preferred Stock		(v)(y)(ac)	Capital Goods					1,529		1.7		—
Trace3 Inc, Common Stock		(v)(y)	Software & Services					61,798		3.9		5.9
Versatile Processing Group Inc, Class A—2 Units		(u)(y)	Materials					3,637,500		3.6		—
Warren Resources Inc, Common Stock		(v)(y)(ad)	Energy					3,483,788		12.8		15.7
Zeta Interactive Holdings Corp, Common Stock		(v)(y)(aa)	Software & Services					3,610,212		30.8		30.3

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