Schedule of Investments in and Advances to Affiliates (Tables)

6 Months Ended

Sep. 30, 2025

Investments in and Advances to Affiliates [Abstract]

Schedule of Investments in and Advances to Affiliates

SCHEDULE 12-14

Schedule of Investments in and Advances to Affiliates

(In thousands)

Portfolio Company	Type of Investment (1)	Industry	September 30, 2025 Principal Amount - Debt Investments		Amount of Interest or Dividends Credited in Income (2)		Fair Value at March 31, 2025		Gross Additions (3)		Gross Reductions (4)		Amount of Realized Gain/(Loss) (5)		Amount of Unrealized Gain/(Loss)		Fair Value at September 30, 2025
Control Investments
Brandner Design, LLC	Revolving Loan	Building & Infrastructure Products	$	135	$	13	$	85	$	37	$	—	$	—	$	(21)	$	101
	First Lien		8,772		714		7,437		33		—		—		(961)		6,509
	27,000 Class A Units		—		—		—		—		—		—		—		—
KMS, LLC	First Lien	Distribution	2,121		152		2,407		125		(411)		—		—		2,121
	Delayed Draw Term Loan		2,464		170		2,261		142		—		—		61		2,464
	19,395.96 Series A Preferred Units		—		—		6,305		—		—		—		2,152		8,457
National Credit Care, LLC	First Lien - Term Loan A	Financial Services	11,625		290		11,282		262		(496)		—		(528)		10,520
	First Lien - Term Loan B		11,625		290		9,500		281		(514)		—		1,253		10,520
	191,049.33 Class A-3 Preferred Units		—		24		2,007		—		—		—		(7)		2,000
	Warrants		—		—		92		—		—		—		1,100		1,192
Spectrum of Hope, LLC	First Lien - Superpriority Term Loan	Healthcare Services	3,592		113		2,284		1,308		—		—		—		3,592
	First Lien - Tranche A Term Loan		11,120		—		9,318		—		—		—		(2,101)		7,217
	First Lien - Tranche B Term Loan		11,120		—		3,114		—		—		—		(3,114)		—
	402,350 Common Units		—		—		—		—		—		—		—		—
Total Control Investments			$	62,574	$	1,766	$	56,092	$	2,188	$	(1,421)	$	—	$	(2,166)	$	54,693

Portfolio Company	Type of Investment (1)	Industry	September 30, 2025 Principal Amount - Debt Investments		Amount of Interest or Dividends Credited in Income (2)		Fair Value at March 31, 2025		Gross Additions (3)		Gross Reductions (4)		Amount of Realized Gain/(Loss) (5)		Amount of Unrealized Gain/(Loss)		Fair Value at September 30, 2025
Affiliate Investments
AAC New Holdco Inc.	First Lien	Healthcare Services	$	198	$	17	$	181	$	17	$	—	$	—	$	—	$	198
	First Lien - Term Loan A		3,086		152		2,933		153		—		—		—		3,086
	First Lien - Term Loan B		3,023		90		2,933		90		—		—		(1,648)		1,375
	Delayed Draw Term Loan		768		33		—		768		—		—		—		768
	11,909,273.85 Preferred Units		—		—		5,702		—		—		—		(5,702)		—
	617,803 Common Units		—		—		—		—		—		—		—		—
	Warrants		—		—		—		—		—		—		—		—
Air Conditioning Specialist, Inc.	Revolving Loan	Consumer Services	—		—		685		—		(685)		—		—		—
	First Lien		—		—		20,761		—		(20,761)		—		—		—
	Delayed Draw Term Loan		—		—		2,893		—		(2,893)		—		—		—
	1,006,045.85 Preferred Units		—		—		2,941		—		(5,431)		4,087		(1,597)		—
American Nuts Operations LLC	First Lien - Term Loan A	Food, Agriculture & Beverage	6,051		392		5,851		200		—		—		—		6,051
	First Lien - Term Loan B		6,051		392		4,973		200		—		—		(242)		4,931
	21,062.03 Class A Preferred Units		—		—		1,843		—		—		—		(1,843)		—
	28.16 Class C Common Units		—		—		—		—		—		—		—		—
ArborWorks, LLC	Revolving Loan	Environmental Services	1,220		72		886		371		(37)		—		—		1,220
	First Lien		3,722		201		3,473		207		—		—		42		3,722
	100 Class A Units		—		—		5		—		—		—		—		5
	13,898.32 Class A-1 Preferred Units		—		—		3,032		—		—		—		1,655		4,687
	13,898.32 Class B-1 Preferred Units		—		—		—		—		—		—		—		—
	1,666.67 Class A-1 Common Units		—		—		—		—		—		—		—		—

Portfolio Company	Type of Investment (1)	Industry	September 30, 2025 Principal Amount - Debt Investments	Amount of Interest or Dividends Credited in Income (2)	Fair Value at March 31, 2025	Gross Additions (3)	Gross Reductions (4)	Amount of Realized Gain/(Loss) (5)	Amount of Unrealized Gain/(Loss)	Fair Value at September 30, 2025
Catbird NYC, LLC	Revolving Loan	Specialty Retail	—	—	—	(10)	—	—	10	—
	First Lien		14,377	860	14,700	19	(323)	—	(19)	14,377
	1,000,000 Class A Units		—	—	1,805	—	—	—	192	1,997
	500,000 Class B Units		—	—	797	—	—	—	67	864
Central Medical Supply LLC	Revolving Loan	Healthcare Equipment & Supplies	1,975	82	1,450	506	—	—	19	1,975
	First Lien		18,641	951	18,525	(13)	—	—	129	18,641
	Delayed Draw Term Loan		—	(4)	101	(11)	(101)	—	11	—
	2,620,670 Preferred Units		—	—	3,163	—	—	—	—	3,163
Command Group Acquisition, LLC	First Lien	Healthcare Equipment & Supplies	6,000	372	5,880	10	—	—	110	6,000
	1,250,000 Preferred Units		—	—	1,038	—	—	—	313	1,351
Crafty Apes, LLC	First Lien	Movies & Entertainment	4,053	250	3,653	253	—	—	(43)	3,863
	Delayed Draw Term Loan		—	—	—	—	—	—	—	—
	1,519.07 Class A Common Units		—	—	5,037	—	—	—	187	5,224
Dynamic Communities, LLC	First Lien - Term Loan A	Business Services	5,066	301	4,766	302	—	—	(2)	5,066
	First Lien - Term Loan B		4,985	334	4,985	—	—	—	—	4,985
	250,000 Class A Preferred units		—	—	317	—	—	—	—	317
	5,435,211.03 Class B Preferred units		—	—	—	—	—	—	—	—
	255,984.22 Class C Preferred units		—	—	—	—	—	—	—	—
	2,500,000 Common units		—	—	—	—	—	—	—	—
GPT Industries, LLC	Revolving Loan	Industrial Products	—	14	—	6	—	—	(6)	—
	First lien		5,796	354	5,866	12	(69)	—	(24)	5,785
	1,000,000 Class A Preferred Units		—	100	2,747	—	—	—	558	3,305

Portfolio Company	Type of Investment (1)	Industry	September 30, 2025 Principal Amount - Debt Investments	Amount of Interest or Dividends Credited in Income (2)	Fair Value at March 31, 2025	Gross Additions (3)	Gross Reductions (4)	Amount of Realized Gain/(Loss) (5)	Amount of Unrealized Gain/(Loss)	Fair Value at September 30, 2025
GrammaTech, Inc.	Revolving Loan	Software & IT Services	—	4	—	1	—	—	(1)	—
	First Lien		188	33	563	—	(375)	—	—	188
	1,000 Class A Units		—	—	336	—	—	—	(135)	201
	360.06 Class A-1 Units		—	—	121	—	—	—	(48)	73
Gravitiq LLC	Revolving Loan	Consumer Products	—	71	—	2,905	(2,900)	—	(5)	—
	First Lien - Term Loan A		14,813	857	14,082	81	(188)	—	541	14,516
	First Lien - Term Loan B		14,813	1,005	14,082	76	(188)	—	546	14,516
	Warrants		—	—	1,597	—	—	—	595	2,192
ITA Holdings Group, LLC	Revolving Loan	Transportation & Logistics	3,525	227	3,525	9	—	—	(9)	3,525
	First Lien - Term Loan		14,840	1,066	13,356	1,747	—	—	(263)	14,840
	First Lien - Term Loan B		14,840	1,220	13,356	1,756	—	—	(272)	14,840
	First Lien - Term Loan C		12,338	362	—	12,338	—	—	—	12,338
	Delayed Draw Term Loan - A		—	—	1,484	(1,484)	—	—	—	—
	Delayed Draw Term Loan - B		—	—	1,484	(1,484)	—	—	—	—
	Delayed Draw Term Loan		—	92	—	—	—	—	—	—
	Warrants		—	1,753	9,755	—	—	—	2,876	12,631
	Warrants		—	1,384	11,369	—	—	—	4,119	15,488
	9.25% Class A Membership Interest		—	1,497	8,776	—	—	—	3,869	12,645
iVueit, LLC	Revolving Loan	Business Services	250	14	—	251	—	—	(3)	248
	First Lien		10,000	531	9,902	8	—	—	—	9,910
	Delayed Draw Term Loan		—	25	—	—	—	—	—	—
	2,000 Preferred Units		—		2,000	—	—	—	232	2,232

Portfolio Company	Type of Investment (1)	Industry	September 30, 2025 Principal Amount - Debt Investments	Amount of Interest or Dividends Credited in Income (2)	Fair Value at March 31, 2025	Gross Additions (3)	Gross Reductions (4)	Amount of Realized Gain/(Loss) (5)	Amount of Unrealized Gain/(Loss)	Fair Value at September 30, 2025
Kindred Pet Service, LLC (fka Red Dog Operations Holding Company LLC)	Revolving Loan	Consumer Services	—	7	—	2	—	—	(2)	—
	First Lien		10,800	509	7,425	3,274	—	—	(7)	10,692
	1,244 Class A Units		—	—	1,000	244	—	—	(219)	1,025
Lighting Retrofit International, LLC (DBA Envocore)	Revolving Loan	Environmental Services	—	16	701	521	(1,250)	—	28	—
	First Lien		5,013	192	4,842	—	(26)	—	106	4,922
	Second Lien		5,208	—	—	—	—	—	—	—
	208,333.33 Series A Preferred units		—	—	—	—	—	—	—	—
	203,124.99 Common units		—	—	—	—	—	—	—	—
Local Web Leads, LLC	Revolving Loan	Media & Marketing	—	2	—	(10)	—	—	10	—
	First Lien - Term Loan A		6,750	177	—	6,686	—	—	—	6,686
	First Lien - Term Loan B		6,750	210	—	6,686	—	—	—	6,686
	750,000 Common Units		—	—	—	750	—	—	—	750
Pool Service Partners, Inc.	Revolving Loan	Consumer Services	—	8	—	3	—	—	(3)	—
	First Lien		5,000	296	4,765	9	—	—	171	4,945
	Delayed Draw Term Loan		5,400	275	5,146	(50)	—	—	245	5,341
	10,667 Common units		—	—	610	—	—	—	336	946
Precision Spray & Coatings, LLC	First Lien	Industrial Services	4,000	81	—	3,961	—	—	—	3,961
	2,000 Class A-2 Units		—	—	—	2,000	—	—	—	2,000

Portfolio Company	Type of Investment (1)	Industry	September 30, 2025 Principal Amount - Debt Investments	Amount of Interest or Dividends Credited in Income (2)	Fair Value at March 31, 2025	Gross Additions (3)	Gross Reductions (4)	Amount of Realized Gain/(Loss) (5)	Amount of Unrealized Gain/(Loss)	Fair Value at September 30, 2025
Roseland Management, LLC	Revolving Loan	Healthcare Services	—	8	—	3	—	—	(3)	—
	First Lien		14,473	848	14,598	(1)	(125)	—	1	14,473
	3,364 Class A-2 Units		—	—	802	—	—	—	(28)	774
	1,100 Class A-1 Units		—	—	196	—	—	—	(9)	187
	16,084 Class A Units		—	—	941	—	—	—	(135)	806
Sonobi, Inc.	500,000 Class A Common Units	Media & Marketing	—	—	—	—	—	—	—	—
STATinMED, LLC	First Lien	Pharmaceuticals, Biotechnology & Life Sciences	—	—	—	—	—	(7,560)	7,560	—
	4,718.62 Class A Preferred Units		—	—	—	—	—	—	—	—
	39,097.96 Class B Preferred Units		—	—	—	—	—	—	—	—
Student Resource Center LLC	First Lien	Education	9,644	—	3,761	—	—	—	—	3,761
	355,555.56 Senior Preferred units		—	—	—	—	—	—	—	—
	10,502,487.46 Preferred units		—	—	—	—	—	—	—	—
	2,000,000 Preferred units		—	—	—	—	—	—	—	—
TalkNY Management Holdings, LLC	First Lien	Healthcare Services	7,500	449	7,312	10	—	—	(122)	7,200
	1,625,472 Class A-1 Preferred Units		—	—	1,082	90	—	—	(323)	849

Portfolio Company	Type of Investment (1)	Industry	September 30, 2025 Principal Amount - Debt Investments		Amount of Interest or Dividends Credited in Income (2)		Fair Value at March 31, 2025		Gross Additions (3)		Gross Reductions (4)		Amount of Realized Gain/(Loss) (5)		Amount of Unrealized Gain/(Loss)		Fair Value at September 30, 2025
White Plains Linen LLC	Revolving Loan	Commercial Services & Supplies	1,000		21		—		971		—		—		—		971
	First Lien - Term Loan A		12,200		221		—		12,081		—		—		—		12,081
	First Lien - Term Loan B		12,200		263		—		12,081		—		—		—		12,081
	16.75% LP Interest		—		—		—		335		—		—		—		335
Total Affiliate Investments			$	276,557	$	18,687	$	292,891	$	68,930	$	(35,352)	$	(3,473)	$	11,815	$	334,811
Total Control & Affiliate Investments			$	339,131	$	20,453	$	348,983	$	71,118	$	(36,773)	$	(3,473)	$	9,649	$	389,504

(1)The principal amount and ownership detail as shown in the Consolidated Schedules of Investments.

(2)Represents the total amount of interest or dividends credited to income for the portion of the year an investment was included in the Control or Affiliate categories, respectively.

(3)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, follow-on investments, accrued PIK interest, and accretion of OID. Gross additions also include movement of an existing portfolio company into this category and out of a different category.

(4)Gross reductions include decreases in the cost basis of investments resulting from principal repayments or sales and the exchange of one or more existing securities for one or more new securities. Gross reductions also include movement of an existing portfolio company out of this category and into a different category.

(5)The schedule does not reflect realized gains or losses on escrow receivables for investments which were previously exited and were not held during the period presented. Gains and losses on escrow receivables are classified in the Consolidated Statements of Operations according to the control classification at the time the investment was exited.