Apollo Senior Floating Rate Fund Inc.
|
||||
Consolidated Schedule of Investments
|
||||
September 30, 2023 (unaudited)
|
||||
|
|
Principal
|
|
|
|
|
Amount ($)
|
|
Value ($)
|
Senior Loans - 136.3%(a)
|
||||
AEROSPACE & DEFENSE - 3.2%
|
||||
Peraton Corporation
|
||||
First Lien Term Loan B, (1M SOFR + 3.75%, 0.75% Floor), 9.17%, 02/01/28(c)
|
7,445,780
|
7,439,600
|
||
BANKING, FINANCE, INSURANCE & REAL ESTATE - 13.7%
|
||||
Alliant Holdings Intermediate, LLC
|
||||
First Lien Term Loan B4, (1M LIBOR + 3.50%, 0.50% Floor), 8.93%, 11/05/27(c)
|
4,355,488
|
4,351,634
|
||
Apex Group Treasury, LLC
|
||||
First Lien Term Loan, (3M SOFR + 3.75%, 0.50% Floor), 9.38%, 07/27/28(c)
|
2,919,282
|
2,899,212
|
||
First Lien Term Loan, (3M SOFR + 5.00%, 0.50% Floor), 10.31%, 07/27/28(c)
|
1,550,781
|
1,554,658
|
||
Asurion, LLC
|
||||
Second Lien Term Loan B4, (1M SOFR + 5.25%, 0.00% Floor), 10.68%, 01/20/29(c)
|
3,866,174
|
3,443,640
|
||
Higginbotham Insurance Agency, Inc.
|
||||
First Lien Delayed Draw Term Loan, (1M SOFR + 5.50%, 0.75% Floor), 10.92%, 11/25/26(c)(d)
|
250,181
|
250,181
|
||
First Lien Term Loan, (1M SOFR + 5.50%, 1.00% Floor), 10.92%, 11/24/28(c)(d)
|
858,116
|
858,116
|
||
Howden Group Holdings Ltd (United Kingdom)
|
||||
First Lien Term Loan, (1M SOFR + 5.25%, 0.75% Floor), 10.57%, 11/12/27(c)(d)(e)
|
7,000,000
|
7,000,000
|
||
Insight XI Aggregator, L.P. (Cayman Islands)
|
||||
First Lien Term Loan, (1M SOFR + 3.85%, 0.00% Floor), 9.17%, 08/28/24(c)(d)(e)
|
3,000,000
|
3,000,000
|
||
SG Acquisition, Inc.
|
||||
First Lien Incremental Term Loan, (1M SOFR + 6.00%, 0.50% Floor), 11.42%, 01/27/27(c)(d)
|
3,990,000
|
3,900,225
|
||
First Lien Term Loan, (1M SOFR + 6.00%, 0.50% Floor), 11.42%, 01/27/27(c)(d)
|
848,936
|
829,835
|
||
The Edelman Financial Center, LLC
|
||||
Second Lien Term Loan, (1M SOFR + 6.75%, 0.00% Floor), 12.18%, 07/20/26(c)
|
3,993,954
|
3,988,961
|
||
32,076,462
|
||||
CAPITAL EQUIPMENT - 1.2%
|
||||
Safe Fleet Holdings, LLC
|
||||
First Lien Term Loan, (1M SOFR + 3.75%, 0.50% Floor), 9.17%, 02/23/29(c)
|
992,443
|
994,691
|
||
First Lien Term Loan, (1M SOFR + 5.00%, 0.50% Floor), 10.42%, 02/23/29(c)
|
395,000
|
397,962
|
||
Second Lien Term Loan, (1M SOFR + 6.75%, 1.00% Floor), 12.17%, 02/02/26(c)
|
1,403,846
|
1,364,945
|
||
2,757,598
|
||||
CHEMICALS, PLASTICS, & RUBBER - 8.3%
|
||||
LSF11 A5 Holdco LLC
|
||||
First Lien Term Loan, (1M SOFR + 3.50%, 0.50% Floor), 8.93%, 10/15/28(c)
|
3,724,198
|
3,641,334
|
||
First Lien Term Loan, (1M SOFR + 4.25%, 0.50% Floor), 9.67%, 10/15/28(c)
|
5,922,006
|
5,855,383
|
||
Luxembourg Investment Company 428 SARL (Luxembourg)
|
||||
First Lien Term Loan B, (3M SOFR + 5.00%, 0.50% Floor), 10.54%, 01/03/29(c)(e)
|
4,695,549
|
3,451,229
|
||
Olympus Water US Holding Corporation
|
||||
First Lien Incremental Term Loan, (3M SOFR + 5.00%, 0.50% Floor), 10.39%, 11/09/28(c)
|
1,909,000
|
1,910,193
|
||
First Lien Term Loan, (3M SOFR + 4.50%, 0.50% Floor), 9.99%, 11/09/28(c)
|
2,769,204
|
2,763,569
|
||
First Lien Term Loan, (3M SOFR + 3.75%, 0.50% Floor), 9.40%, 11/09/28(c)
|
422,127
|
417,152
|
||
W.R. Grace Holdings, LLC
|
||||
First Lien Term Loan B, (3M SOFR + 3.75%, 0.50% Floor), 9.40%, 09/22/28(c)
|
1,424,857
|
1,415,360
|
||
19,454,220
|
||||
CONSUMER GOODS: DURABLE - 0.6%
|
||||
Varsity Brands Holding Co., Inc.
|
||||
First Lien Term Loan, (1M SOFR + 5.00%, 1.00% Floor), 10.43%, 12/15/26(c)
|
498,744
|
489,185
|
||
Weber-Stephen Products LLC
|
||||
First Lien Term Loan, (1M SOFR + 3.25%, 0.75% Floor), 8.68%, 10/30/27(c)
|
1,078,289
|
976,073
|
||
1,465,258
|
Apollo Senior Floating Rate Fund Inc.
|
||||
Consolidated Schedule of Investments (continued)
|
||||
September 30, 2023 (unaudited)
|
||||
|
|
Principal
|
|
|
|
|
Amount ($)
|
|
Value ($)
|
Senior Loans - 136.3%(a) (continued)
|
||||
CONSUMER GOODS: NON-DURABLE - 4.0%
|
||||
ABG Intermediate Holdings 2 LLC
|
||||
First Lien Term Loan, (1M SOFR + 3.50%, 0.50% Floor), 8.92%, 12/21/28(c)
|
2,353,767
|
2,353,979
|
||
First Lien Term Loan B2, (1M SOFR + 4.00%, 0.00% Floor), 9.42%, 12/21/28(c)
|
1,884,653
|
1,887,018
|
||
Second Lien Term Loan, (1M SOFR + 6.00%, 0.50% Floor), 11.42%, 12/20/29(c)
|
684,230
|
691,073
|
||
Iconix Brand Group
|
||||
First Lien Term Loan, (3M SOFR + 6.00%, 1.00% Floor), 11.54%, 08/22/29(c)(d)
|
1,800,000
|
1,777,500
|
||
KDC/ONE Development Corporation, Inc. (Canada)
|
||||
First Lien Term Loan, (1M SOFR + 5.00%, 0.00% Floor), 10.32%, 08/15/28(c)(e)
|
2,827,596
|
2,732,872
|
||
9,442,442
|
||||
CONTAINERS, PACKAGING & GLASS - 6.2%
|
||||
Anchor Glass Container Corporation
|
||||
First Lien Term Loan, (3.75% PIK), (6M SOFR + 5.00%, 1.00% Floor), 10.90%, 12/07/25(c)(f)
|
5,863,428
|
4,873,974
|
||
Berlin Packaging LLC
|
||||
First Lien Term Loan B, (3M SOFR + 3.75%, 0.50% Floor), 9.40%, 03/11/28(c)
|
2,297,879
|
2,276,957
|
||
Trident TPI Holdings, Inc.
|
||||
First Lien Incremental Term Loan, (3M SOFR + 5.25%, 0.50% Floor), 10.64%, 09/15/28(c)
|
1,324,209
|
1,324,759
|
||
First Lien Term Loan B3, (3M SOFR + 4.00%, 0.50% Floor), 9.65%, 09/15/28(c)
|
5,965,475
|
5,953,872
|
||
14,429,562
|
||||
ENVIRONMENTAL INDUSTRIES - 3.5%
|
||||
Dispatch Acquisition Holdings, LLC
|
||||
First Lien Term Loan, (3M SOFR + 4.63%, 0.75% Floor), 10.17%, 03/27/28(c)
|
466,723
|
431,719
|
||
First Lien Term Loan B, (3M SOFR + 4.25%, 0.75% Floor), 9.79%, 03/27/28(c)
|
2,932,500
|
2,712,562
|
||
LTR Intermediate Holdings, Inc.
|
||||
First Lien Term Loan, (1M SOFR + 4.50%, 1.00% Floor), 9.93%, 05/05/28(c)
|
5,251,626
|
4,978,542
|
||
8,122,823
|
||||
FOREST PRODUCTS & PAPER - 0.3%
|
||||
Spa US Holdco, Inc. (Finland)
|
||||
First Lien Term Loan B, (3M SOFR + 4.00%, 0.75% Floor), 9.65%, 02/04/28(c)(e)
|
654,898
|
639,835
|
||
HEALTHCARE & PHARMACEUTICALS - 17.4%
|
||||
Advarra Holdings, Inc.
|
||||
First Lien Term Loan, (1M SOFR + 5.25%, 0.75% Floor), 10.57%, 08/24/29(c)(d)
|
6,371,700
|
6,339,842
|
||
Athenahealth, Inc.
|
||||
First Lien Term Loan B, (1M SOFR + 3.25%, 0.50% Floor), 8.57%, 02/15/29(c)
|
5,252,808
|
5,169,105
|
||
Azurity Pharmaceuticals, Inc.
|
||||
First Lien Term Loan B, (1M SOFR + 6.62%, 0.75% Floor), 12.05%, 09/20/27(c)
|
2,698,774
|
2,606,571
|
||
Bausch Health Companies, Inc.
|
||||
First Lien Term Loan B, (1M SOFR + 5.25%, 0.50% Floor), 10.67%, 02/01/27(b)(c)
|
4,504,762
|
3,678,251
|
||
Gainwell Acquisition Corporation
|
||||
First Lien Term Loan B, (3M SOFR + 4.00%, 0.75% Floor), 9.49%, 10/01/27(c)
|
8,498,341
|
8,312,440
|
||
Loire Finco Luxembourg SARL (United Kingdom)
|
||||
First Lien Term Loan B, (1M SOFR + 3.75%, 0.75% Floor), 9.17%, 04/21/27(c)(e)
|
1,950,559
|
1,929,424
|
||
LSCS Holdings, Inc.
|
||||
First Lien Term Loan, (1M SOFR + 4.50%, 0.50% Floor), 9.93%, 12/16/28(c)
|
2,006,151
|
1,981,576
|
||
Medical Solutions Holdings, Inc.
|
||||
First Lien Term Loan, (3M SOFR + 3.25%, 0.50% Floor), 8.77%, 11/01/28(c)
|
3,991,573
|
3,871,826
|
||
Resonetics, LLC
|
||||
First Lien Term Loan, (3M SOFR + 4.00%, 0.75% Floor), 9.63%, 04/28/28(c)
|
3,920,000
|
3,860,494
|
||
Star Parent, Inc.
|
||||
First Lien Term Loan B, (SOFR + 4.00%, 0.00% Floor), 4.00%, 09/19/30(b)(c)
|
1,000,000
|
979,235
|
||
Zest Acquisition Corp.
|
||||
First Lien Term Loan, (1M SOFR + 5.50%, 0.00% Floor), 10.82%, 02/08/28(c)
|
1,985,000
|
1,952,754
|
||
40,681,518
|
Apollo Senior Floating Rate Fund Inc.
|
||||
Consolidated Schedule of Investments (continued)
|
||||
September 30, 2023 (unaudited)
|
||||
|
|
Principal
|
|
|
|
|
Amount ($)
|
|
Value ($)
|
Senior Loans - 136.3%(a) (continued)
|
||||
HIGH TECH INDUSTRIES - 25.0%
|
||||
Anaplan, Inc.
|
||||
First Lien Term Loan, (1M SOFR + 6.50%, 0.75% Floor), 11.82%, 06/21/29(c)(d)
|
5,650,529
|
5,678,782
|
||
Avalara, Inc.
|
||||
First Lien Term Loan, (3M SOFR + 7.25%, 0.75% Floor), 12.64%, 10/19/28(c)(d)
|
4,545,455
|
4,488,636
|
||
Coupa Software, Inc.
|
||||
First Lien Term Loan, (1M SOFR + 7.50%, 0.75% Floor), 12.82%, 02/27/30(c)(d)
|
2,591,455
|
2,520,190
|
||
DCert Buyer, Inc.
|
||||
First Lien Term Loan, (1M SOFR + 4.00%, 0.00% Floor), 9.32%, 10/16/26(c)
|
4,580,444
|
4,559,122
|
||
Second Lien Term Loan, (1M SOFR + 7.00%, 0.00% Floor), 12.32%, 02/19/29(c)
|
3,927,401
|
3,685,217
|
||
Electronics for Imaging, Inc.
|
||||
First Lien Term Loan, (1M SOFR + 5.00%, 0.00% Floor), 10.42%, 07/23/26(c)
|
4,879,902
|
3,273,511
|
||
Evergreen IX Borrower 2023, LLC
|
||||
First Lien Term Loan, (3M SOFR + 6.00%, 0.75% Floor), 11.39%, 09/29/30(c)(d)
|
3,602,484
|
3,512,422
|
||
Flexera Software LLC
|
||||
First Lien Term Loan B, (1M SOFR + 3.75%, 0.75% Floor), 9.18%, 03/03/28(c)
|
3,355,319
|
3,335,238
|
||
Imperva, Inc.
|
||||
First Lien Term Loan, (3M SOFR + 4.00%, 1.00% Floor), 9.63%, 01/12/26(c)
|
4,026,117
|
4,038,698
|
||
Imprivata, Inc.
|
||||
Second Lien Term Loan, (1M SOFR + 6.25%, 0.50% Floor), 11.57%, 12/01/28(c)(d)
|
2,205,882
|
2,128,676
|
||
Riverbed Technology, Inc.
|
||||
First Lien Term Loan, (3M SOFR + 4.50%, 1.00% Floor), 9.89%, 07/01/28(c)
|
339,552
|
221,558
|
||
Sovos Compliance, LLC
|
||||
First Lien Term Loan, (1M SOFR + 4.50%, 0.50% Floor), 9.93%, 08/11/28(c)
|
4,447,984
|
4,385,068
|
||
UKG, Inc.
|
||||
First Lien Term Loan, (3M SOFR + 3.75%, 0.00% Floor), 9.22%, 05/04/26(c)
|
7,572,285
|
7,573,496
|
||
Second Lien Term Loan, (3M SOFR + 5.25%, 0.50% Floor), 10.76%, 05/03/27(c)
|
1,000,000
|
1,000,980
|
||
Virtusa Corporation
|
||||
First Lien Term Loan, (1M SOFR + 3.75%, 0.75% Floor), 9.17%, 02/15/29(c)
|
3,720,858
|
3,707,835
|
||
Zendesk, Inc.
|
||||
First Lien Term Loan, (3.25% PIK), (3M SOFR + 6.75%, 0.75% Floor), 12.15%, 11/22/28(c)(d)(f)
|
4,497,377
|
4,497,377
|
||
58,606,806
|
||||
HOTEL, GAMING & LEISURE - 2.3%
|
||||
Fertitta Entertainment, LLC
|
||||
First Lien Term Loan B, (1M SOFR + 4.00%, 0.50% Floor), 9.32%, 01/27/29(c)
|
5,414,751
|
5,369,348
|
||
MEDIA: ADVERTISING, PRINTING & PUBLISHING - 7.2%
|
||||
Associations Inc.
|
||||
First Lien Term Loan, (2.50% PIK), (3M SOFR + 6.50%, 1.00% Floor), 12.15%, 07/02/27(c)(d)(f)
|
3,096,211
|
3,096,211
|
||
Houghton Mifflin Harcourt Company
|
||||
First Lien Term Loan B, (1M SOFR + 5.25%, 0.50% Floor), 10.67%, 04/09/29(c)
|
4,675,723
|
4,438,056
|
||
McGraw-Hill Education, Inc.
|
||||
First Lien Term Loan, (1M SOFR + 4.75%, 0.50% Floor), 10.18%, 07/28/28(b)(c)
|
6,199,283
|
6,095,321
|
||
R. R. Donnelley & Sons Company
|
||||
First Lien Term Loan, (1M SOFR + 7.25%, 0.75% Floor), 12.67%, 03/17/28(c)
|
3,314,525
|
3,320,740
|
||
16,950,328
|
Apollo Senior Floating Rate Fund Inc.
|
||||
Consolidated Schedule of Investments (continued)
|
||||
September 30, 2023 (unaudited)
|
||||
|
|
Principal
|
|
|
|
|
Amount ($)
|
|
Value ($)
|
Senior Loans - 136.3%(a) (continued)
|
||||
MEDIA: BROADCASTING & SUBSCRIPTION - 3.0%
|
||||
Anuvu Holdings 2, LLC
|
||||
First Lien Delayed Draw Term Loan, (3M LIBOR + 7.00%, 1.00% Floor), 12.50%, 03/25/24(c)(d)
|
73,747
|
70,798
|
||
First Lien Term Loan, (3M SOFR + 8.00%, 1.00% Floor), 13.50%, 03/24/25(c)
|
2,479,047
|
2,435,663
|
||
First Lien Term Loan, (8.25% PIK), (3M SOFR + 8.25%, 1.00% Floor), 13.75%, 03/23/26(c)(d)(f)
|
2,156,491
|
1,617,368
|
||
CSC Holdings, LLC
|
||||
First Lien Term Loan B, (1M LIBOR + 2.25%, 0.00% Floor), 7.70%, 07/17/25(c)
|
2,984,962
|
2,900,548
|
||
7,024,377
|
||||
RETAIL - 3.6%
|
||||
Claire’s Stores, Inc.
|
||||
First Lien Term Loan B, (1M SOFR + 6.50%, 0.00% Floor), 11.92%, 12/18/26(c)
|
2,013,452
|
1,867,477
|
||
EG America, LLC (United Kingdom)
|
||||
First Lien Term Loan C, (1M SOFR + 4.00%, 0.00% Floor), 9.48%, 02/07/25(b)(c)(e)
|
1,995,000
|
1,915,200
|
||
PetSmart, Inc.
|
||||
First Lien Term Loan, (1M SOFR + 3.75%, 0.75% Floor), 9.17%, 02/11/28(c)
|
4,702,809
|
4,695,661
|
||
8,478,338
|
||||
SERVICES: BUSINESS - 24.5%
|
||||
Advantage Sales & Marketing Inc.
|
||||
First Lien Term Loan B1, (3M SOFR + 4.50%, 0.75% Floor), 10.04%, 10/28/27(c)
|
2,959,990
|
2,859,632
|
||
Allied Universal Holdco LLC
|
||||
First Lien Term Loan, (1M SOFR + 3.75%, 0.50% Floor), 9.17%, 05/12/28(c)
|
4,033,895
|
3,903,016
|
||
BDO USA, P.A.
|
||||
First Lien Term Loan, (1M SOFR + 6.00%, 2.00% Floor), 11.32%, 08/31/28(c)(d)
|
8,000,000
|
7,840,000
|
||
Carestream Health, Inc.
|
||||
First Lien Term Loan, (3M SOFR + 7.50%, 1.00% Floor), 12.99%, 09/30/27(c)(d)
|
116,773
|
82,325
|
||
Coretrust Purchasing Group LLC
|
||||
First Lien Term Loan, (1M SOFR + 6.75%, 0.75% Floor), 12.07%, 10/01/29(c)(d)
|
2,305,883
|
2,236,707
|
||
Deerfield Dakota Holding, LLC
|
||||
First Lien Term Loan, (3M SOFR + 3.75%, 1.00% Floor), 9.14%, 04/09/27(c)
|
6,221,867
|
6,080,599
|
||
eResearchTechnology, Inc.
|
||||
First Lien Term Loan B, (1M SOFR + 4.50%, 1.00% Floor), 9.93%, 02/04/27(c)
|
6,327,228
|
6,221,026
|
||
Garda World Security Corporation (Canada)
|
||||
First Lien Term Loan B, (3M SOFR + 4.25%, 0.00% Floor), 9.65%, 02/01/29(c)(e)
|
1,717,401
|
1,719,281
|
||
First Lien Term Loan B2, (3M SOFR + 4.25%, 0.00% Floor), 9.75%, 10/30/26(c)(e)
|
8,539,602
|
8,548,014
|
||
Ingenovis Health, Inc.
|
||||
First Lien Term Loan, (1M SOFR + 4.25%, 0.50% Floor), 9.67%, 03/06/28(c)
|
992,500
|
952,800
|
||
First Lien Term Loan B, (1M SOFR + 3.75%, 0.75% Floor), 9.18%, 03/06/28(c)
|
3,923,537
|
3,756,787
|
||
Planet US Buyer LLC
|
||||
First Lien Term Loan, (3M SOFR + 6.75%, 0.75% Floor), 12.12%, 02/01/30(c)(d)
|
2,763,889
|
2,694,792
|
||
Solera, LLC
|
||||
First Lien Term Loan B, (1M SOFR + 4.00%, 0.50% Floor), 9.43%, 06/02/28(c)
|
3,992,968
|
3,833,249
|
||
Second Lien Term Loan, (3M SOFR + 9.00%, 1.00% Floor), 14.52%, 06/04/29(c)
|
5,266,509
|
4,805,689
|
||
Wellsky
|
||||
First Lien Term Loan, (1M SOFR + 5.75%, 0.75% Floor), 11.18%, 03/10/28(c)(d)
|
1,980,000
|
1,975,050
|
||
57,508,967
|
||||
SERVICES: CONSUMER - 2.4%
|
||||
2U, Inc.
|
||||
First Lien Term Loan B, (6M SOFR + 6.50%, 0.75% Floor), 11.95%, 12/28/26(c)
|
1,606,287
|
1,500,882
|
||
Mavis Tire Express Services Corporation
|
||||
First Lien Term Loan B, (1M SOFR + 4.00%, 0.75% Floor), 9.43%, 05/04/28(c)
|
2,992,347
|
2,988,607
|
||
MH Sub I, LLC
|
||||
First Lien Term Loan, (1M SOFR + 4.25%, 0.50% Floor), 9.57%, 05/03/28(c)
|
1,269,064
|
1,229,901
|
||
5,719,390
|
Apollo Senior Floating Rate Fund Inc.
|
||||
Consolidated Schedule of Investments (continued)
|
||||
September 30, 2023 (unaudited)
|
||||
|
|
Principal
|
|
|
|
|
Amount ($)
|
|
Value ($)
|
Senior Loans - 136.3%(a) (continued)
|
||||
TELECOMMUNICATIONS - 7.3%
|
||||
CommScope, Inc.
|
||||
First Lien Term Loan B, (1M SOFR + 3.25%, 0.00% Floor), 8.68%, 04/06/26(c)
|
3,107,666
|
2,909,552
|
||
Flight Bidco, Inc.
|
||||
First Lien Term Loan, (1M SOFR + 3.50%, 0.00% Floor), 8.93%, 07/23/25(c)
|
2,584,208
|
2,546,789
|
||
MLN US Holdco LLC
|
||||
First Lien Second Out Term Loan, (3M SOFR + 6.70%, 1.00% Floor), 12.11%, 10/18/27(c)(d)
|
3,807,495
|
3,065,033
|
||
First Lien Term Loan, (3M SOFR + 6.44%, 1.00% Floor), 11.85%, 10/18/27(c)(d)
|
638,138
|
611,017
|
||
Orbcomm, Inc.
|
||||
First Lien Term Loan, (3M SOFR + 4.25%, 0.75% Floor), 9.80%, 09/01/28(c)
|
1,031,639
|
926,221
|
||
U.S. TelePacific Corp.
|
||||
First Lien Term Loan, (6.00% PIK), (6M SOFR + 7.25%, 1.00% Floor), 12.57%, 05/02/26(c)(f)
|
3,239,786
|
1,281,740
|
||
Third Lien Term Loan, 0.00%, 05/02/27(d)(j)
|
319,086
|
–
|
||
Zacapa SARL (Luxembourg)
|
||||
First Lien Term Loan, (3M SOFR + 4.00%, 0.50% Floor), 9.39%, 03/22/29(c)(e)
|
3,743,672
|
3,722,314
|
||
Zayo Group Holdings, Inc.
|
||||
First Lien Term Loan, (1M SOFR + 4.33%, 0.50% Floor), 9.64%, 03/09/27(c)
|
2,398,042
|
1,960,399
|
||
17,023,065
|
||||
TRANSPORTATION: CARGO - 0.7%
|
||||
Channelside AcquisitionCo, Inc.
|
||||
First Lien Term Loan, (1M SOFR + 6.75%, 1.00% Floor), 12.09%, 06/30/28(c)(d)
|
1,759,848
|
1,733,450
|
||
WHOLESALE - 1.9%
|
||||
LBM Acquisition, LLC
|
||||
First Lien Term Loan B, (1M SOFR + 3.75%, 0.75% Floor), 9.17%, 12/17/27(c)
|
4,521,133
|
4,423,522
|
||
Total Senior Loans
|
||||
(Cost $328,223,987)
|
319,346,909
|
|||
Corporate Notes and Bonds - 10.7%
|
||||
AUTOMOTIVE - 1.4%
|
||||
Carvana Co.
|
||||
(12.00% PIK), 12.00%, 12/01/28(f)(h)(i)
|
989,000
|
776,686
|
||
(13.00% PIK), 13.00%, 06/01/30(f)(h)(i)
|
1,484,000
|
1,168,650
|
||
(14.00% PIK), 14.00%, 06/01/31(f)(h)(i)
|
1,756,000
|
1,363,095
|
||
3,308,431
|
||||
BANKING, FINANCE, INSURANCE & REAL ESTATE - 0.3%
|
||||
KCF Puerto Rico, LLC (Puerto Rico)
|
||||
0.00%, 06/28/28(d)(e)(j)
|
882,529
|
605,891
|
||
CHEMICALS, PLASTICS, & RUBBER - 0.3%
|
||||
Cheever Escrow Issuer, LLC
|
||||
7.13%, 10/01/27(h)(i)
|
750,000
|
699,495
|
||
CONTAINERS, PACKAGING & GLASS - 0.4%
|
||||
LABL, Inc.
|
||||
5.88%, 11/01/28(h)(i)
|
1,000,000
|
904,304
|
Apollo Senior Floating Rate Fund Inc.
|
||||
Consolidated Schedule of Investments (continued)
|
||||
September 30, 2023 (unaudited)
|
||||
|
|
Principal
|
|
|
|
|
Amount ($)
|
|
Value ($)
|
Corporate Notes and Bonds - 10.7% (continued)
|
||||
ENERGY: OIL & GAS - 0.4%
|
||||
Moss Creek Resources Holdings, Inc.
|
||||
7.50%, 01/15/26(h)(i)
|
1,051,000
|
1,018,744
|
||
FOREST PRODUCTS & PAPER - 0.5%
|
||||
Spa US Holdco, Inc. (Finland)
|
||||
4.88%, 02/04/28(e)(h)(i)
|
1,500,000
|
1,254,483
|
||
HEALTHCARE & PHARMACEUTICALS - 0.6%
|
||||
Bausch Health Companies, Inc.
|
||||
5.50%, 11/01/25(h)(i)
|
750,000
|
666,562
|
||
Embecta Corp.
|
||||
5.00%, 02/15/30(h)(i)
|
1,063,000
|
837,633
|
||
1,504,195
|
||||
HIGH TECH INDUSTRIES - 2.5%
|
||||
Wolfspeed, Inc.
|
||||
9.88%, 06/23/30(d)(h)(i)
|
6,000,000
|
5,779,200
|
||
HOTEL, GAMING & LEISURE - 0.5%
|
||||
NCL Corporation Ltd.
|
||||
9.75%, 02/22/28(d)(h)(i)
|
1,153,000
|
1,198,544
|
||
MEDIA: ADVERTISING, PRINTING & PUBLISHING - 0.4%
|
||||
McGraw-Hill Education, Inc.
|
||||
5.75%, 08/01/28(h)(i)
|
1,000,000
|
865,257
|
||
MEDIA: BROADCASTING & SUBSCRIPTION - 0.6%
|
||||
CSC Holdings, LLC
|
||||
4.13%, 12/01/30(h)(i)
|
2,000,000
|
1,422,500
|
||
METALS & MINING - 0.0%
|
||||
ERP Iron Ore, LLC
|
||||
LIBOR + 8.00%, 0.00%, 12/31/19(d)(g)(j)
|
18,879
|
–
|
||
Magnetation, LLC / Mag Finance Corp.
|
||||
0.00%, 05/15/18(d)(g)(h)(i)(j)
|
639,000
|
–
|
||
–
|
||||
SERVICES: BUSINESS - 1.6%
|
||||
Advantage Sales & Marketing Inc.
|
||||
6.50%, 11/15/28(h)(i)
|
3,327,000
|
2,866,377
|
||
Allied Universal Holdco LLC
|
||||
4.63%, 06/01/28(h)(i)
|
1,000,000
|
835,000
|
||
3,701,377
|
||||
TELECOMMUNICATIONS - 1.2%
|
||||
Frontier Communications Holdings, LLC
|
||||
5.00%, 05/01/28(h)(i)
|
3,239,000
|
2,771,369
|
||
Total Corporate Notes and Bonds
|
||||
(Cost $27,847,947)
|
25,033,790
|
Apollo Senior Floating Rate Fund Inc.
|
||||
Consolidated Schedule of Investments (continued)
|
||||
September 30, 2023 (unaudited)
|
||||
|
|
Quantity
|
|
|
|
|
|
Value ($)
|
|
Common Stocks - 0.5%
|
||||
AUTOMOTIVE - 0.0%
|
||||
APC Parent, Inc.(d)(j)
|
241,972
|
–
|
||
ENERGY: OIL & GAS - 0.0%
|
||||
RDV Resources, Inc.(d)(j)
|
28,252
|
21,613
|
||
HIGH TECH INDUSTRIES - 0.0%
|
||||
Vector Capitano Holdings, LP Class B-1 (Cayman Islands)(d)(e)(j)
|
9,055
|
–
|
||
Vector Capitano Holdings, LP Class B-2 (Cayman Islands)(d)(e)(j)
|
7,051
|
–
|
||
–
|
||||
MEDIA: ADVERTISING, PRINTING & PUBLISHING - 0.0%
|
||||
Acosta, Inc. (d)(j)
|
3,133
|
33,045
|
||
MEDIA: BROADCASTING & SUBSCRIPTION - 0.1%
|
||||
Anuvu Corp.(d)(j)
|
108,418
|
204,910
|
||
SERVICES: BUSINESS - 0.4%
|
||||
Carestream Health, Inc.(d)(j)
|
118,564
|
984,081
|
||
Total Common Stocks
|
||||
(Cost $4,452,636)
|
1,243,649
|
|||
Preferred Stock - 0.1%
|
||||
MEDIA: ADVERTISING, PRINTING & PUBLISHING - 0.1%
|
||||
Acosta, Inc., (14.50% PIK)(d)(f)
|
4,138
|
202,914
|
||
Total Preferred Stock
|
||||
(Cost $170,424)
|
202,914
|
|||
Total Investments - 147.6%
|
||||
(Cost $360,694,994)
|
345,827,262
|
|||
Other Assets & Liabilities, Net - 7.8%
|
18,351,834
|
|||
Loan Outstanding - (55.4%)(k)(l)
|
(129,863,035)
|
|||
Net Assets (Applicable to Common Shares) - 100.0%
|
234,316,061
|
|||
|
||||
(a)
|
“Senior Loans” are senior, secured loans made to companies whose debt is below investment grade as well as investments with similar economic characteristics. Senior
Loans typically hold a first lien priority and, unless otherwise indicated, are required to pay interest at floating rates that are periodically reset by reference to a base lending rate plus a spread. In some instances, the rates shown
represent the weighted average rate as of September 30, 2023. Senior Loans are generally not registered under the Securities Act of 1933 (the “1933 Act”) and often incorporate certain restrictions on resale and cannot be sold publicly. Senior
Loans often require prepayments from excess cash flow or permit the borrower to repay at its election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a
result, the actual maturity may be substantially less than the stated maturity.
|
|||
(b)
|
All or a portion of this Senior Loan position has not settled. Full contract rates do not take effect until settlement date and therefore are subject to change.
|
|||
(c)
|
The interest rate on this Senior Loan is subject to a base lending rate plus a spread. These base lending rates are primarily the Secured Overnight Financing Rate
(“SOFR”) and secondarily the synthetic London Interbank Offered Rate (“LIBOR”) or the prime rate offered by one or more major U.S. banks (“Prime”). The interest rate is subject to a minimum floor, which may be less than or greater than the
prevailing period end LIBOR/SOFR/Prime rate. As of September 30, 2023, the 1, 3 and 6 month LIBOR rates were 5.43%, 5.66% and 5.90%, respectively, the 1, 3 and 6 month SOFR rates were 5.32%, 5.40%, and 5.47%, respectively, and the Prime
lending rate was 8.50%. Senior Loans may contain multiple contracts of the same issuer which may be subject to base lending rates of LIBOR, SOFR and Prime (“Variable”) in addition to the stated spread.
|
|||
(d)
|
Fair Value Level 3 security.
|
|||
(e)
|
Foreign issuer traded in U.S. dollars.
|
|||
(f)
|
Represents a payment-in-kind (“PIK”) security, which may pay interest in additional principal amount/share quantity.
|
|||
(g)
|
Issuer filed for bankruptcy and/or is in default of principal and/or interest payments.
|
|||
(h)
|
Fixed rate asset.
|
|||
(i)
|
Securities exempt from registration pursuant to Rule 144A under the 1933 Act. These securities may only be resold in transactions exempt from registration to
qualified institutional buyers. At September 30, 2023, these securities amounted to $24,427,899, or 10.43% of net assets.
|
|||
(j)
|
Non-income producing asset.
|
|||
(k)
|
The Fund has granted a security interest in substantially all of its assets in the event of default under the credit facility.
|
|||
(l)
|
Principal of $130,000,000 less unamortized deferred financing costs of $136,965.
|
Apollo Senior Floating Rate Fund Inc.
|
||||||||||||||||
|
Total Fair Value at
September 30, 2023
|
Level 1
Quoted Price
|
Level 2
Significant
Observable Inputs
|
Level 3
Significant
Unobservable Inputs
|
||||||||||||
Assets:
|
||||||||||||||||
Cash and Cash Equivalents
|
$
|
12,694,375
|
$
|
12,694,375
|
$
|
-
|
$
|
-
|
||||||||
Senior Loans
|
319,346,909
|
-
|
247,542,376
|
71,804,533
|
||||||||||||
Corporate Notes and Bonds
|
25,033,790
|
-
|
17,450,155
|
7,583,635
|
||||||||||||
Common Stocks
|
1,243,649
|
-
|
-
|
1,243,649
|
||||||||||||
Preferred Stock
|
202,914
|
-
|
-
|
202,914
|
||||||||||||
Unrealized appreciation on Unfunded Commitments
|
51,731
|
-
|
5,369
|
46,362
|
||||||||||||
Total Assets
|
$
|
358,573,368
|
$
|
12,694,375
|
$
|
264,997,900
|
$
|
80,881,093
|
||||||||
Liabilities:
|
||||||||||||||||
Unrealized depreciation on Unfunded Commitments
|
(28,923
|
)
|
-
|
-
|
(28,923
|
)
|
||||||||||
Total Liabilities
|
(28,923
|
)
|
-
|
-
|
(28,923
|
)
|
||||||||||
|
$
|
358,544,445
|
$
|
12,694,375
|
$
|
264,997,900
|
$
|
80,852,170
|
Apollo Senior Floating Rate Fund Inc.
|
||||||||||||||||||||||||
Total
|
Senior
Loans
|
Corporate
Notes and
Bonds
|
Common
Stocks
|
Preferred Stocks
|
Unfunded
Commitments
|
|||||||||||||||||||
Total Fair Value, beginning of period
|
$
|
55,573,493
|
$
|
52,192,218
|
$
|
596,966
|
$
|
2,599,549
|
$
|
190,255
|
$
|
(5,495
|
)
|
|||||||||||
Purchases, including capitalized PIK
|
40,190,195
|
33,288,725
|
6,901,470
|
-
|
-
|
-
|
||||||||||||||||||
Sales/Paydowns
|
(9,922,353
|
)
|
(9,870,933
|
)
|
-
|
(51,420
|
)
|
-
|
-
|
|||||||||||||||
Accretion/(amortization) of discounts/ (premiums)
|
104,726
|
103,284
|
1,442
|
-
|
-
|
-
|
||||||||||||||||||
Net realized gain/(loss)
|
(2,658,924
|
)
|
(2,163,500
|
)
|
-
|
51,420
|
(546,844
|
)
|
-
|
|||||||||||||||
Change in net unrealized appreciation/ (depreciation)
|
3,315,885
|
4,005,591
|
83,757
|
(1,355,900
|
)
|
559,503
|
22,934
|
|||||||||||||||||
Transfers into Level 3
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Transfers out of Level 3
|
(5,750,852
|
)
|
(5,750,852
|
)
|
-
|
-
|
-
|
-
|
||||||||||||||||
Total Fair Value, end of period
|
$
|
80,852,170
|
$
|
71,804,533
|
$
|
7,583,635
|
$
|
1,243,649
|
$
|
202,914
|
$
|
17,439
|
Assets/Liabilities
|
Fair Value at
September 30, 2023
|
Valuation Technique(s)(a)
|
Unobservable Input(s)
|
Range of Unobservable
Input(s) Utilized
|
Weighted Average
Unobservable Input(s)
|
|||||
Senior Loans
|
$
|
56,343,814
|
Discounted Cash Flow (b)
|
Discount Rate (b)
|
8.59% - 31.45%
|
12.10%
|
||||
-
|
Recoverability (c)
|
Estimated Proceeds (c)
|
$-
|
$-
|
||||||
15,460,719
|
Transaction Appraoch (d)
|
Cost (d)
|
N/A
|
N/A
|
||||||
Corporate Notes and Bonds
|
6,977,744
|
Discounted Cash Flow (b)
|
Discount Rate (b)
|
8.31% - 12.53%
|
11.52%
|
|||||
605,891
|
Discounted Cash Flow (b)
|
Discount Rate (b)
|
5.40%
|
5.40%
|
||||||
Recoverability (c)
|
Estimated Proceeds (c)
|
$55.5m
|
$55.5m
|
|||||||
-
|
Recoverability (c)
|
Estimated Proceeds (c)
|
$-
|
$-
|
||||||
Common Stocks
|
21,613
|
Discounted Cash Flow (b)
|
Discount Rate (b)
|
5.45%
|
5.45%
|
|||||
Recoverability (c)
|
Estimated Proceeds (c)
|
$9.1m
|
$9.1m
|
|||||||
-
|
Recoverability (c)
|
Estimated Proceeds (c)
|
$-
|
$-
|
||||||
1,017,126
|
Guideline Public Company (e)
|
TEV / EBITDA Multiple (e)
|
2.75x - 7.00x
|
3.37x
|
||||||
204,910
|
Guideline Public Company (e)
|
TEV / EBITDA Multiple (e)
|
2.50x - 3.50x
|
3.00x
|
||||||
Guideline Public Company (f)
|
TEV / Revenue (f)
|
1.35x - 1.55x
|
1.45x
|
|||||||
Preferred Stock
|
202,914
|
Guideline Public Company (e)
|
TEV / EBITDA Multiple (e)
|
7.00x
|
7.00x
|
|||||
Unfunded Commitments
|
17,610
|
Discounted Cash Flow (b)
|
Discount Rate (b)
|
9.61% - 25.49%
|
15.59%
|
|||||
(171
|
)
|
Transaction Appraoch (d)
|
Cost (d)
|
N/A
|
N/A
|
|||||
Total Fair Value
|
$
|
80,852,170
|
||||||||
(a)
|
For the assets which have multiple valuation techniques, the Fund may rely on the techniques individually or in aggregate based on a weight ranging from 0-100%.
|
(b)
|
The Fund utilized a discounted cash flow model to fair value this security. The significant unobservable input used in the valuation model was the discount rate, which was determined based on
the market rates an investor would expect for a similar investment with similar risks. The discount rate was applied to present value the projected cash flows in the valuation model. Significant increases in the discount rate may
significantly lower the fair value of an investment; conversely, significant decreases in the discount rate may significantly increase the fair value of an investment.
|
(c)
|
The Fund utilized a recoverability approach to fair value this security, specifically a liquidation analysis. There are various, company specific inputs used in the valuation analysis that
relate to the liquidation value of a company’s assets. The significant unobservable input used in the valuation model was estimated proceeds. Significant increases or decreases in the input in isolation may result in a significantly higher
or lower fair value measurement.
|
(d)
|
The Fund utilized a recent transaction, specifically purchase price, to fair value this security.
|
(e)
|
The Fund utilized a guideline public company method to fair value this security. The significant unobservable inputs used in the valuation model were total enterprise value (“TEV”) and
earnings before interest, taxes, depreciation and amortization (“EBITDA”) based on comparable multiples for a similar investment with similar risks. Significant increases or decreases in either of these inputs in isolation may result in a
significantly higher or lower fair value measurement.
|
(f)
|
The Fund utilized a guideline public company method to fair value this security. The significant unobservable inputs used in the valuation model were total enterprise value (“TEV”) and revenue
based on comparable multiples for a similar investment with similar risks. Significant increases or decreases in either of these inputs in isolation may result in a significantly higher or lower fair value measurement.
|
Borrower
|
Unfunded
Commitments
|
||
ABG Intermediate Holdings 2, LLC Delayed Draw Term Loan*
|
$
|
361,111
|
|
Advarra Holdings, Inc. Delayed Draw Term Loan
|
580,151
|
||
Anaplan, Inc. Revolving Term Loan
|
349,471
|
||
Anuvu Holdings 2, LLC Delayed Draw Term Loan
|
35,074
|
||
Anuvu Holdings 2, LLC Delayed Draw Term Loan B
|
582,016
|
||
Avalara, Inc. Revolving Term Loan
|
454,545
|
||
Channelside AcquisitionCo, Inc. Delayed Draw Term Loan**
|
65,000
|
||
Channelside AcquisitionCo, Inc. Revolving Term Loan
|
166,667
|
||
Coretrust Purchasing Group, LLC Delayed Draw Term Loan
|
338,346
|
||
Coretrust Purchasing Group, LLC Revolving Term Loan
|
338,346
|
||
Coupa Software, Inc. Delayed Draw Term Loan
|
231,380
|
||
Coupa Software, Inc. Revolving Term Loan
|
177,165
|
||
Evergreen IX Borrower 2023, LLC Revolving Term Loan
|
397,516
|
||
Higginbotham Insurance Agency, Inc. 3rd Amd. Delayed Draw Term Loan**
|
888,889
|
||
NCL Corporation Ltd. Backstop Notes
|
694,000
|
||
NCL Corporation Ltd. Class B Bridge Notes
|
1,153,000
|
||
Planet US Buyer LLC Revolving Term Loan
|
222,222
|
||
Riverbed Technology, Inc. Revolving Term Loan
|
84,607
|
||
Zendesk, Inc. Delayed Draw Term Loan
|
1,104,901
|
||
Zendesk, Inc. Revolving Term Loan
|
454,959
|
||
$
|
8,679,366
|