0001437749-24-032485 | 10-Q | XBRL Viewer | Horizon Technology Finance Corp

Investment Holdings, Schedule of Investments [Table Text Block]

	*September 30, 2024*				*December 31, 2023*
	*Cost*		*Fair Value*		*Cost*		*Fair Value*
	(In thousands)
Investments
Debt	$	654,127	$	633,284	$	721,231	$	670,172
Warrants		17,292		18,735		16,526		24,594
Other		36,651		17,944		6,982		6,430
Equity		25,162		14,037		14,443		7,889
Total investments	$	733,232	$	684,000	$	759,182	$	709,085

	*September 30, 2024*				*December 31, 2023*
	*Cost*		*Fair Value*		*Cost*		*Fair Value*
	(In thousands)
Life Science
Biotechnology	$	126,867	$	106,865	$	145,544	$	117,781
Medical Device		185,751		179,092		147,064		145,019
Technology
Communications		13,577		15,596		19,192		22,188
Consumer-Related		74,381		54,505		105,669		101,327
Data Storage		417		409		417		418
Internet and Media		329		984		329		1,582
Networking		10,064		9,818		5,451		5,297
Power Management		1,585		2,700		1,585		2,700
Semiconductors		45		—		45		—
Software		136,309		132,951		164,133		160,749
Sustainability
Energy Efficiency		9,812		9,712		111		13
Other Sustainability		66,501		66,163		98,906		80,370
Healthcare Information and Services
Diagnostics		16,692		14,114		19,735		19,701
Other		39,511		40,186		102		1,366
Software		51,391		50,905		50,899		50,574
Total investments	$	733,232	$	684,000	$	759,182	$	709,085

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net increase (decrease) in net assets resulting from operations	$ 7,278	$ (11,980)	$ 6,799	$ (6,524)
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:
Amortization of debt issuance costs	500	500	1,272	1,433
Net realized (gain) loss on investments			31,422	28,513
Net unrealized (appreciation) depreciation on investments	(29,335)	17,518	(864)	24,448
Purchase of investments			(121,211)	(154,488)
Principal payments received on investments			120,448	90,222
Payment-in-kind interest on investments			(2,114)	(6,088)
Proceeds from sale of investments			157	11,063
Equity received in settlement of fee income			0	(89)
Warrants received in settlement of fee income			(359)	(80)
Changes in assets and liabilities:
(Increase) decrease in interest receivable			(775)	1,491
Increase in end-of-term payments			(1,088)	(1,960)
Decrease in unearned income			(2,381)	(2,621)
Increase in other assets			(201)	(837)
(Decrease) increase in other accrued expenses			(1,005)	414
(Decrease) increase in base management fee payable			(27)	15
Decrease in incentive fee payable			0	(1,392)
Net cash provided by (used in) operating activities			30,073	(16,480)
Cash flows from financing activities:
Proceeds from issuance of common stock, net of offering costs			47,527	65,031
Advances on Credit Facilities			50,000	59,250
Repayment of Credit Facilities			(70,000)	(35,000)
Debt issuance costs			(3,334)	(732)
Distributions paid			(34,310)	(28,548)
Net cash (used in) provided by financing activities			(19,147)	36,125
Net increase in cash, cash equivalents and restricted cash			10,926	19,645
Cash, cash equivalents and restricted cash:
Beginning of period			75,722	30,466
End of period	86,648	50,111	86,648	50,111
Supplemental disclosure of cash flow information:
Cash paid for interest			22,770	19,956
Supplemental non-cash investing and financing activities:
Refinanced debt investment balances			19,540	0
Warrant investments received and recorded as unearned income			1,269	1,870
Distributions payable	12,475	10,991	12,475	10,991
End-of-term payments receivable			12,905	11,743
Non-cash income			9,448	12,861
Cash	52,302	34,816	52,302	34,816
Investments in money market funds	31,080	12,457	31,080	12,457
Restricted investments in money market funds	3,266	2,838	3,266	2,838
Total cash, cash equivalents and restricted cash	$ 86,648	$ 50,111	86,648	50,111
Asset-backed Notes 2022 [Member]
Cash flows from financing activities:
Repayment of note			(9,030)	0
Asset-backed Notes 2019 [Member]
Cash flows from financing activities:
Repayment of note			$ 0	$ (23,876)

Significant Accounting Policies (Policies)	9 Months Ended
Significant Accounting Policies (Policies)	Sep. 30, 2024
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	*Principles of consolidation* As required under GAAP and Regulation S-X, the Company will generally consolidate its investment in a company that is an investment company subsidiary or a controlled operating company whose business consists of providing services to the Company. Accordingly, the Company consolidated the results of the Company’s wholly-owned subsidiaries in its consolidated financial statements. Assets related to transactions that do not meet Accounting Standards Codification (“ASC”) Topic 860, Transfers and Servicing requirements for accounting sale treatment are reflected in the Company’s Consolidated Statements of Assets and Liabilities as investments. Those assets are owned by special purpose entities, including 2019‑1 Entities and 2022-1 Entities, that are consolidated in the Company’s consolidated financial statements. The creditors of the special purpose entities have received security interests in such assets, and such assets are not intended to be available to the creditors of the Company (or any affiliate of the Company).
Use of Estimates, Policy [Policy Text Block]	*Use of estimates* In preparing the consolidated financial statements in accordance with GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities, as of the date of the balance sheet and income and expenses for the period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the valuation of investments.
Fair Value Measurement, Policy [Policy Text Block]	*Fair value* The Company records all of its investments at fair value in accordance with relevant GAAP, which establishes a framework used to measure fair value and requires disclosures for fair value measurements. The Company has categorized its investments carried at fair value, based on the priority of the valuation technique, into a three-level fair value hierarchy as more fully described in Note 6. Fair value is a market-based measure considered from the perspective of the market participant who holds the financial instrument rather than an entity specific measure. Therefore, when market assumptions are not readily available, the Company’s own assumptions are set to reflect those that management believes market participants would use in pricing the financial instrument at the measurement date. The availability of observable inputs can vary depending on the financial instrument and is affected by a wide variety of factors, including, for example, the type of product, whether the product is new, whether the product is traded on an active exchange or in the secondary market and the current market conditions. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for financial instruments classified as Level 3. See Note 6 for additional information regarding fair value.
Segment Reporting, Policy [Policy Text Block]	*Segments* The Company has determined that it has a single reporting segment and operating unit structure. The Company lends to and invests in portfolio companies in various technology, life science, healthcare information and services and sustainability industries. The Company separately evaluates the performance of each of its lending and investment relationships. However, because each of these debt investments and investment relationships has similar business and economic characteristics, they have been aggregated into a single lending and investment segment.
Investment, Policy [Policy Text Block]	*Investments* Investments are recorded at fair value. Pursuant to the amended SEC Rule 2a-5 of the 1940 Act, on July 29, 2022, the Company's board of directors (the “Board”) designated the Advisor as the Company’s “valuation designee.” The valuation designee determines the fair value of the Company’s portfolio investments and the Company's Board oversees the valuation designee. The Company has the intent to hold its debt investments for the foreseeable future or until maturity or payoff. Interest on debt investments is accrued and included in income based on contractual rates applied to principal amounts outstanding. Interest income is determined using a method that results in a level rate of return on principal amounts outstanding. Generally, when a debt investment becomes 90 days or more past due, or if the Company otherwise does not expect to receive interest and principal repayments, the debt investment is placed on non-accrual status and the recognition of interest income may be discontinued. Interest payments received on non-accrual debt investments may be recognized as income, on a cash basis, or applied to principal depending upon management’s judgment at the time the debt investment is placed on non-accrual status. As of September 30, 2024, there were four investments on nonaccrual status with a cost of $51.4 million and a fair value of $36.1 million. As of December 31, 2023, there were four investments on non-accrual status with a cost of $72.5 million and a fair value of $27.6 million. For the three and nine months ended September 30, 2024, the Company recognized interest income of $0.2 million from debt investments while on non-accrual status. For the three and nine months ended September 30, 2023, the Company did not recognize any interest income from debt investments while on non-accrual status. The Company has a limited number of debt investments that contain a PIK provision. Contractual PIK interest, which represents contractually deferred interest added to the loan balance that is generally due at the end of the loan term, is generally recorded on an accrual basis to the extent such amounts are expected to be collected. For the three months ended September 30, 2024 and 2023, 1.5% and 13.5%, respectively, of the Company's total investment income was attributable to non-cash PIK interest. For the nine months ended September 30, 2024 and 2023, 2.8% and 7.1%, respectively, of the Company's total investment income was attributable to non-cash PIK interest. The Company will generally cease accruing PIK interest if management does not expect the portfolio company to be able to pay all principal and interest due. For the three months ended September 30, 2024, no debt investments, which had accrued PIK interest into income, were placed on nonaccrual status. For the nine months ended September 30, 2024, one debt investment, which had accrued PIK interest into income of $1.0 million during the nine months ended September 30, 2024 was placed on nonaccrual status. For the three and nine months ended September 30, 2023, three debt investments, which had accrued PIK interest into income of $3.7 million and $5.8 million during the three and nine months ended September 30, 2023, respectively, were placed on nonaccrual status. The Company receives a variety of fees from borrowers in the ordinary course of conducting its business, including advisory fees, commitment fees, amendment fees, non-utilization fees, success fees and prepayment fees. In a limited number of cases, the Company may also receive a non-refundable deposit earned upon the termination of a transaction. Debt investment origination fees, net of certain direct origination costs, are deferred and, along with unearned income, are amortized as a level-yield adjustment over the respective term of the debt investment. All other income is recognized when earned. Fees for counterparty debt investment commitments with multiple debt investments are allocated to each debt investment based upon each debt investment’s relative fair value. When a debt investment is placed on non-accrual status, the amortization of the related fees and unearned income is discontinued until the debt investment is returned to accrual status. Certain debt investment agreements also require the borrower to make an ETP, that is accrued into interest receivable and taken into income over the life of the debt investment to the extent such amounts are expected to be collected. The Company will generally cease accruing the income if there is insufficient value to support the accrual or the Company does not expect the borrower to be able to pay the ETP when due. The proportion of the Company’s total investment income that resulted from the portion of ETPs not received in cash for the three months ended September 30, 2024 and 2023 was 4.6% and 5.1%, respectively. The proportion of the Company’s total investment income that resulted from the portion of ETPs not received in cash for the nine months ended September 30, 2024 and 2023 was 6.0% and 4.9%, respectively. In connection with substantially all lending arrangements, the Company receives warrants to purchase shares of stock from the borrower. The warrants are recorded as assets at estimated fair value on the grant date using the Black-Scholes valuation model. The warrants are considered loan fees and are recorded as unearned income on the grant date. The unearned income is recognized as interest income over the contractual life of the related debt investment in accordance with the Company’s income recognition policy. Subsequent to debt investment origination, the fair value of the warrants is determined using the Black-Scholes valuation model. Any adjustment to fair value is recorded through earnings as net unrealized appreciation or depreciation on investments. Gains and losses from the disposition of the warrants or stock acquired from the exercise of warrants are recognized as realized gains and losses on investments. Realized gains or losses on the sale of investments, or upon the determination that an investment balance, or portion thereof, is not recoverable, are calculated using the specific identification method. The Company measures realized gains or losses by calculating the difference between the net proceeds from the repayment or sale and the amortized cost basis of the investment. Net change in unrealized appreciation or depreciation reflects the change in the fair values of the Company’s portfolio investments during the reporting period, including any reversal of previously recorded unrealized appreciation or depreciation when gains or losses are realized.
Debt, Policy [Policy Text Block]	*Debt issuance costs* Debt issuance costs are fees and other direct incremental costs incurred by the Company in obtaining debt financing from its lenders and issuing debt securities. The unamortized balance of debt issuance costs as of September 30, 2024 and December 31, 2023 was $7.9 million and $5.8 million, respectively. These amounts are capitalized and amortized and included in interest expense in the consolidated statements of operations over the life of the borrowings. The accumulated amortization balances as of September 30, 2024 and December 31, 2023 were $6.7 million and $5.2 million, respectively. The amortization expense for the three months ended September 30, 2024 and 2023 was $0.5 million and $0.5 million, respectively. The amortization expense for the nine months ended September 30, 2024 and 2023 was $1.3 million and $1.4 million, respectively.
Income Tax, Policy [Policy Text Block]	*Income taxes* As a BDC, the Company has elected to be treated as a RIC under Subchapter M of the Code and operates in a manner so as to qualify for the tax treatment applicable to RICs. In order to qualify as a RIC and to avoid the imposition of corporate-level income tax on the portion of its taxable income distributed to stockholders, among other things, the Company is required to meet certain source of income and asset diversification requirements and to timely distribute dividends out of assets legally available for distribution to its stockholders of an amount generally at least equal to 90% of its investment company taxable income, as defined by the Code and determined without regard to any deduction for dividends paid, for each tax year. The Company, among other things, has made and intends to continue to make the requisite distributions to its stockholders, which generally relieves the Company from corporate-level U.S. federal income taxes. Accordingly, no provision for federal income tax has been recorded in the financial statements. Differences between taxable income and net increase in net assets resulting from operations either can be temporary, meaning they will reverse in the future, or permanent. In accordance with ASC Topic 946, Financial Services—Investment Companies, as amended, of the Financial Accounting Standards Board (“FASB”), permanent tax differences, such as non-deductible excise taxes paid, are reclassified from distributions in excess of net investment income and net realized loss on investments to paid-in-capital at the end of each fiscal year. These permanent book-to-tax differences are reclassified on the consolidated statements of changes in net assets to reflect their tax character but have no impact on total net assets. Depending on the level of taxable income earned in a tax year, the Company may choose to carry forward taxable income in excess of current year distributions into the next tax year and incur a 4% U.S. federal excise tax on such income, as required. To the extent that the Company determines that its estimated current year annual taxable income will be in excess of estimated current year distributions, the Company accrues excise tax, if any, on estimated excess taxable income as taxable income is earned. For the three months ended September 30, 2024 and 2023, $0.4 million and $0.2 million, respectively, was accrued for U.S. federal excise tax. For the nine months ended September 30, 2024 and 2023, $1.1 million and $0.5 million, respectively, was accrued for U.S. federal excise tax. The Company evaluates tax positions taken in the course of preparing the Company’s tax returns to determine whether the tax positions are “more-likely-than-not” to be sustained by the applicable tax authority in accordance with ASC Topic 740, Income Taxes, as modified by ASC Topic 946. Tax benefits of positions not deemed to meet the more-likely-than-not threshold, or uncertain tax positions, would be recorded as a tax expense in the current year. It is the Company’s policy to recognize accrued interest and penalties related to uncertain tax benefits in income tax expense. The Company had no material uncertain tax positions at September 30, 2024 and December 31, 2023. The Company’s income tax returns for the 2024, 2023, 2022 and 2021 tax years remain subject to examination by U.S. federal and state tax authorities.
Distributions [Policy Text Block]	*Distributions* Distributions to common stockholders are recorded on the declaration date. The amount to be paid out as distributions is determined by the Board. Net realized capital gains, if any, may be distributed, although the Company may decide to retain such net realized gains for investment. The Company has adopted a dividend reinvestment plan that provides for reinvestment of cash distributions on behalf of its stockholders, unless a stockholder elects to receive cash. As a result, if the Board declares a cash distribution, then stockholders who have not “opted out” of the dividend reinvestment plan will have their cash distributions automatically reinvested in additional shares of the Company’s common stock, rather than receiving the cash distribution. The Company may issue new shares or purchase shares in the open market to fulfill its obligations under the plan.
Stockholders' Equity, Policy [Policy Text Block]	*Stockholders’ Equity* On August 2, 2021, the Company entered into an At-The-Market (“ATM”) sales agreement (the “2021 Equity Distribution Agreement”), with Goldman Sachs & Co. LLC and B. Riley FBR, Inc. (each a “Sales Agent” and, collectively, the “Sales Agents”). The 2021 Equity Distribution Agreement provided that the Company may offer and sell its shares of common stock from time to time through the Sales Agents representing up to $100.0 million worth of its common stock, in amounts and at times to be determined by the Company. On September 22, 2023, the Company terminated the 2021 Equity Distribution Agreement and entered into a new ATM sales agreement (the “2023 Equity Distribution Agreement”), with the Sales Agents. The remaining shares available under the 2021 Equity Distribution Agreement are no longer available for issuance. The 2023 Equity Distribution Agreement provides that the Company may offer and sell its shares of common stock from time to time through the Sales Agents up to $150.0 million worth of its common stock, in amounts and at times to be determined by the Company. Sales of the Company’s common stock, if any, may be made in negotiated transactions or transactions that are deemed to be “at-the-market,” as defined in Rule 415 under the Securities Act, including sales made directly on the Nasdaq or similar securities exchange or sales made to or through a market maker other than on an exchange, at prices related to the prevailing market prices or at negotiated prices. During the three months ended September 30, 2024, the Company sold 1,709,096 shares of common stock under the 2023 Equity Distribution Agreement. For the same period, the Company received total accumulated net proceeds of approximately $18.4 million, including $0.4 million of offering expenses, from these sales. During the three months ended September 30, 2023, the Company sold 1,186,303 shares of common stock under the 2023 Equity Distribution Agreement and the 2021 Equity Distribution Agreement. For the same period, the Company received total accumulated net proceeds of approximately $13.9 million, including $0.4 million of offering expenses, from these sales. During the nine months ended September 30, 2024, the Company sold 4,279,141 shares of common stock under the 2023 Equity Distribution Agreement. For the same period, the Company received total accumulated net proceeds of approximately $47.5 million, including $1.0 million of offering expenses, from these sales. During the nine months ended September 30, 2023, the Company sold 2,240,326 shares of common stock under the 2023 Equity Distribution Agreement and the 2021 Equity Distribution Agreement. For the same period, the Company received total accumulated net proceeds of approximately $26.1 million, including $0.7 million of offering expenses, from these sales. The Company generally uses net proceeds from these offerings to make investments, to pay down liabilities and for general corporate purposes. As of September 30, 2024, shares representing approximately $98.2 million of its common stock remain available for issuance and sale under the 2023 Equity Distribution Agreement. On June 2, 2023, the Company completed a follow-on public offering of 3,250,000 shares of our common stock at a public offering price of $12.50 per share, for total net proceeds to us of $38.9 million, after deducting underwriting commission and discounts and other offering expenses.
Stock Repurchase Program [Policy Text Block]	*Stock Repurchase Program* On April 26, 2024, the Board extended a previously authorized stock repurchase program which allows the Company to repurchase up to $5.0 million of its common stock at prices below the Company’s net asset value per share as reported in its most recent consolidated financial statements. Under the repurchase program, the Company may, but is not obligated to, repurchase shares of its outstanding common stock in the open market or in privately negotiated transactions from time to time. Any repurchases by the Company will comply with the requirements of Rule 10b‑18 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and any applicable requirements of the 1940 Act. Unless extended by the Board, the repurchase program will terminate on the earlier of June 30, 2025 or the repurchase of $5.0 million of the Company’s common stock. During the three and nine months ended September 30, 2024 and 2023, the Company did not make any repurchases of its common stock. From the inception of the stock repurchase program through September 30, 2024, the Company repurchased 167,465 shares of its common stock at an average price of $11.22 on the open market at a total cost of $1.9 million.
Transfers and Servicing of Financial Assets, Policy [Policy Text Block]	*Transfers of financial assets* Assets related to transactions that do not meet the requirements under ASC Topic 860, Transfers and Servicing for sale treatment under GAAP are reflected in the Company’s consolidated statements of assets and liabilities as investments. Those assets are owned by special purpose entities that are consolidated in the Company’s financial statements. The creditors of the special purpose entities have received security interests in such assets and such assets are not intended to be available to the creditors of the Company (or any other affiliate of the Company). Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company — put presumptively beyond the reach of the transferor and its creditors, even in bankruptcy or other receivership, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets and (3) the transferor does not maintain effective control over the transferred assets through either (a) an agreement that both entitles and obligates the transferor to repurchase or redeem the assets before maturity or (b) the ability to unilaterally cause the holder to return specific assets, other than through a cleanup call.
New Accounting Pronouncements, Policy [Policy Text Block]	*Recently issued accounting pronouncement* In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”). ASU 2023-07 is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment's profit or loss and assess potential future cash flows for each reportable segment and the entity as a whole. The amendments expand a public entity's segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker, clarifying when an entity may report one or more additional measures to assess segment performance, requiring enhanced interim disclosures and providing new disclosure requirements for entities with a single reportable segment, among other new disclosure requirements. The amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and early adoption is permitted. The Company is currently evaluating the impact of adopting this guidance with respect to the consolidated financial statements and disclosures. *Recently adopted* *accounting pronouncement* In June 2022, the FASB issued Accounting Standards Update No. 2022-03, Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (“ASU 2022-03”). ASU 2022-03 clarifies the guidance when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of the security. The amendments in ASU 2022-03 were effective for public companies for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. The adoption of ASU 2022-03 did not have a material impact on the Company’s consolidated financial statements.

Note 1 - Organization (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Aug. 13, 2019
Debt Instrument, Face Amount	$ 705,970	$ 615,000
Investment, Affiliated Issuer, Controlled [Member] \| HIMV LLC [Member] \| Co-lender [Member]
Subsidiary, Ownership Percentage, Noncontrolling Owner	30.00%
Investment, Affiliated Issuer, Controlled [Member] \| HIMV LLC [Member] \| Co-lender [Member]
Investment Owned, Net Assets, Percentage		30.00%
Horizon Technology Finance Corporation [Member] \| Investment, Affiliated Issuer, Controlled [Member] \| HIMV LLC [Member]
Investment Owned, Net Assets, Percentage	70.00%	70.00%
Asset-backed Notes 2019 [Member]
Debt Instrument, Face Amount			$ 160,000
Asset-backed Notes 2019 [Member] \| Affiliated Entity [Member]
Debt Instrument, Face Amount			$ 100,000

Note 11 - Financial Highlights

9 Months Ended

Sep. 30, 2024

Investment Company, Financial Highlights [Text Block]

Note 11. Financial highlights

The following table shows financial highlights for the Company:

	*Nine months ended September 30,*
	*2024*				*2023*
	(In thousands, except share and per share data)
Per share data:
Net asset value at beginning of period	$	9.71			$	11.47
Net investment income		1.06				1.54
Realized loss		(0.89	)			(0.95	)
Unrealized appreciation (depreciation) on investments		0.02				(0.81	)
Net increase (decrease) in net assets resulting from operations		0.19				(0.22	)
Distributions declared⁽¹⁾		(1.04	)			(0.99	)
From net investment income		(1.04	)			(0.99	)
From net realized gain on investments		—				—
Return of capital		—				—
Other⁽²⁾		0.20				0.15
Net asset value at end of period	$	9.06			$	10.41
Per share market value, beginning of period	$	13.17			$	11.60
Per share market value, end of period	$	10.65			$	11.88
Total return based on a market value ⁽³⁾		(11.2	)%			10.9	%
Shares outstanding at end of period		37,803,064				33,306,958
Ratios to average net assets:
Expenses without incentive fee⁽⁴⁾		15.1	%			14.0	%
Incentive fees ⁽⁴⁾		0.1				1.2	%
Net expenses ⁽⁴⁾		15.2	%			15.2	%
Net investment income with incentive fee ⁽⁴⁾		15.0	%			18.5	%
Net assets at the end of the period	$	342,533			$	346,575
Average net asset value	$	331,853			$	335,531
Average debt per share	$	12.70			$	14.29
Portfolio turnover ratio		13.4	%	⁽⁵⁾		10.0	%	⁽⁵⁾

(1)

Distributions are determined based on taxable income calculated in accordance with income tax regulations, which may differ from amounts determined under GAAP due to (i) changes in unrealized appreciation and depreciation, (ii) temporary and permanent differences in income and expense recognition, and (iii) the amount of spillover income carried over from a given tax year for distribution in the following tax year. The final determination of taxable income for each tax year, as well as the tax attributes for distributions in such tax year, will be made after the close of the tax year.

(2)

Includes the impact of the different share amounts as a result of calculating per share data based on the weighted average basic shares outstanding during the period and certain per share data based on the shares outstanding as of a period end or transaction date. The issuance of common stock on a per share basis reflects the incremental net asset value changes as a result of the issuance of common stock in the Company’s continuous public offering and pursuant to the Company’s distribution reinvestment plan. The issuance of common stock at an offering price, net of sales commissions and dealer manager fees, that is greater than the net asset value per share results in an increase in net asset value per share.

(3)	The total return equals the change in the ending market value over the beginning of period price per share plus distributions paid per share during the period, divided by the beginning price.

(4)	Annualized.

(5)

Calculated by dividing (A) the lesser of purchases or sales of portfolio securities for the fiscal year by (B) the monthly average of the value of portfolio securities owned by the Company during the fiscal year, with certain securities excluded from the numerator and denominator pursuant to applicable federal securities laws.

Note 6 - Fair Value (Details Textual) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) $ / shares	Sep. 30, 2023 USD ($)	Jun. 30, 2022
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	$ 0	$ (5,000)	$ 0	$ (5,111)
Unrealized Gain (Loss) on Investments	$ 29,335	(17,518)	864	(24,448)
Equity Securities [Member]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net		0		(111)
Warrant [Member]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net		0		0
Fair Value, Inputs, Level 1 [Member] \| Debt Securities [Member]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3		$ 5,000		5,000
Fair Value, Inputs, Level 1 [Member] \| Equity Securities [Member]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3				100
Fair Value, Inputs, Level 3 [Member] \| Debt Securities [Member]
Unrealized Gain (Loss) on Investments			(6,000)	(33,600)
Fair Value, Inputs, Level 3 [Member] \| Equity Securities [Member]
Unrealized Gain (Loss) on Investments			(4,500)	(1,600)
Fair Value, Inputs, Level 3 [Member] \| Warrant [Member]
Unrealized Gain (Loss) on Investments			$ (300)	$ (2,100)
The 2026 Notes [Member]
Debt Instrument, Share Price (in dollars per share) \| $ / shares	$ 24.3		$ 24.3
The 2026 Notes [Member] \| Fair Value, Inputs, Level 1 [Member]
Debt Instrument, Fair Value Disclosure	$ 55,900		$ 55,900
The 2027 Notes [Member]
Debt Instrument, Share Price (in dollars per share) \| $ / shares	$ 24.16		$ 24.16
The 2027 Notes [Member] \| Fair Value, Inputs, Level 1 [Member]
Debt Instrument, Fair Value Disclosure	$ 55,600		$ 55,600
Asset-backed Notes 2022 [Member] \| Fair Value, Inputs, Level 3 [Member]
Debt Instrument, Fair Value Disclosure	$ 91,000		$ 91,000
Measurement Input, Hypothetical Market Yields [Member]
Debt Instrument, Measurement Input					0.25

Note 7 - Borrowings

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Text Block]

Note 7. Borrowings

The following table shows the Company’s borrowings as of September 30, 2024 and December 31, 2023:

	*September 30, 2024*							*December 31, 2023*
	*Total*		*Balance*			*Unused*		*Total*		*Balance*			*Unused*
	*Commitment*		*Outstanding*			*Commitment*		*Commitment*		*Outstanding*			*Commitment*
	(In thousands)
Key Facility	$	150,000	$	—		$	150,000	$	150,000	$	70,000		$	80,000
NYL Facility		250,000		181,000			69,000		250,000		181,000			69,000
Nuveen Facility		100,000		50,000			50,000		—		—			—
2022 Asset-Backed Notes		90,970		90,970			—		100,000		100,000			—
2027 Notes		57,500		57,500			—		57,500		57,500			—
2026 Notes		57,500		57,500			—		57,500		57,500			—
Total before debt issuance costs		705,970		436,970			269,000		615,000		466,000			149,000
Unamortized debt issuance costs attributable to term borrowings		—		(3,001	)		—		—		(3,765	)		—
Total borrowings outstanding, net	$	705,970	$	433,969		$	269,000	$	615,000	$	462,235		$	149,000

As of September 30, 2024, with certain limited exceptions, the Company, as a BDC, is only allowed to borrow amounts such that the Company’s asset coverage, as defined in the 1940 Act, is at least 150% after such borrowings. As of September 30, 2024, the asset coverage for borrowed amounts was 178%.

Credit Facilities

Key Facility

The Company entered into the Key Facility with Key effective November 4, 2013. On June 20, 2024, the Company amended the Key Facility, among other things, (i) to extend the date on which the Company may request advances under the Key Facility to June 20, 2027 and to extend the maturity date to June 20, 2029 and (ii) to amend the interest rate to be based on the rate of interest published in The Wall Street Journal as the prime rate in the United States plus 0.10%, with a prime rate floor of 4.10%. On June 29, 2023, the Company amended the Key Facility, among other things, to increase the commitment amount to $150 million and to increase the amount of the accordion feature which now allows for the potential increase in the total commitment amount to $300 million. The Key Facility is collateralized by all debt investments and warrants held by Credit II and permits an advance rate of up to 60% of eligible debt investments held by Credit II. The Key Facility contains covenants that, among other things, require the Company to maintain a minimum net worth and to restrict the debt investments securing the Key Facility to certain criteria for qualified debt investments and includes portfolio company concentration limits as defined in the related loan agreement. The prime rate was 8.00% and 8.50% on September 30, 2024 and December 31, 2023, respectively. The average interest rate on the Key Facility for the three months ended September 30, 2024 and 2023 was 8.53% and 8.68%, respectively. The average interest rate on the Key Facility for the nine months ended September 30, 2024 and 2023 was 8.67% and 8.34%, respectively. The Key Facility requires the payment of an unused line fee in an amount up to 0.50% on an annualized basis of any unborrowed amount available under the facility. As of September 30, 2024 and December 31, 2023, the Company had borrowing capacity under the Key Facility of $150.0 million and $80.0 million, respectively. At September 30, 2024 and December 31, 2023, $13.3 million and $25.0 million, respectively, was available for borrowing, subject to existing terms and advance rates.

NYL Facility

HFI entered into the NYL Facility with the NYL Noteholders for an aggregate purchase price of up to $100.0 million, with an accordion feature of up to $200.0 million at the mutual discretion and agreement of HSLFI and the NYL Noteholders. On June 1, 2018, HSLFI sold or contributed to HFI certain secured loans made to certain portfolio companies pursuant to the Sale and Servicing Agreement. Any notes issued by HFI are collateralized by all investments held by HFI and permit an advance rate of up to 67% of the aggregate principal amount of eligible debt investments. The notes were issued pursuant to the indenture. The interest rate on the notes issued under the NYL Facility was based on the three year USD mid-market swap rate plus a margin of between 3.55% and 5.15% with an interest rate floor, depending on the rating of such notes at the time of issuance.

On May 24, 2023, the Company amended its NYL Facility to, among other things, increase the commitment by $50.0 million to enable its wholly-owned subsidiary to issue up to $250.0 million of secured notes. In addition, the amendment amended the interest rate for advances made after May 24, 2023, fixing the interest rate at the greater of (i) 4.60% and (ii) the Three Year I Curve plus 3.50%, with the interest rate to be reset on any advance date.

On May 6, 2024, the Company amended its NYL Facility to, among other things, extend the investment period to June 2025 and the maturity date of all advances to June 2030. In addition, the amendment amended the interest rate for advances made after May 6, 2024, fixing the interest rate at the greater of (i) 4.60% and (ii) the Three Year I Curve plus 3.20%, with the interest rate to be reset on any advance date.

There were $181.0 million in advances made by the NYL Noteholders as of September 30, 2024 and December 31, 2023. The interest rate was 6.43% and 5.85% as of September 30, 2024 and 2023, respectively. As of September 30, 2024 and December 31, 2023, the Company had borrowing capacity under the NYL Facility of $69.0 million. At September 30, 2024 and December 31, 2023, $8.2 million and $17.4 million, respectively, was available for borrowing, subject to existing terms and advance rates.

Under the terms of the NYL Facility, the Company is required to maintain a reserve cash balance, which may be used to pay monthly interest and principal payments on the NYL Facility. The Company has segregated these funds and classified them as restricted investments in money market funds. At September 30, 2024 and December 31, 2023, there were approximately $1.4 million of such restricted investments.

Nuveen Facility

HFII entered into the Nuveen Facility with the Nuveen Noteholders for an aggregate purchase price of up to $100.0 million, with an accordion feature of up to $200.0 million at the mutual discretion and agreement of HFII and the Nuveen Noteholders. On June 21, 2024, the Company sold or contributed to HFII certain secured loans made to certain portfolio companies pursuant to the Sale and Servicing Agreement. Any notes issued by HFII are collateralized by all investments held by HFII and permit an advance rate of up to 67.5% of the aggregate principal amount of eligible debt investments. The notes were issued pursuant to the Indenture. The Nuveen Facility bears interest, payable monthly, determined at a rate per annum equal to the greater of (i) the yield for the United States Treasury constant maturity 3-year and 5-year in the most recent statistical release published by the Board of Governors of the Federal Reserve System designated as “Selected Interest Rates (Daily) – H.15” interpolated to a 4.88-year weighted average life plus 3.15% and (ii) 5.00%. The Company may request advances under the Nuveen Facility through June 21, 2027 and the Nuveen Facility is scheduled to mature on June 10, 2033.

There were $50.0 million in advances made by the Nuveen Noteholders as of September 30, 2024. The interest rate as of September 30, 2024 was 7.38%. As of September 30, 2024, the Company had borrowing capacity under the Nuveen Facility of $50.0 million. At September 30, 2024, $29.9 million was available for borrowing, subject to existing terms and advance rates. The Nuveen Facility was not outstanding at December 31, 2023.

Under the terms of the Nuveen Facility, the Company is required to maintain a reserve cash balance, which may be used to pay monthly interest and principal payments on the Nuveen Facility. The Company has segregated these funds and classified them as restricted investments in money market funds. At September 30, 2024, there were approximately $0.9 million of such restricted investments.

Securitizations

2019 Asset-Backed Notes

On August 13, 2019, the Company completed a term debt securitization in connection with which an affiliate of the Company made an offering of the 2019 Asset-Backed Notes. The 2019 Asset-Backed Notes were rated A+(sf) by Morningstar Credit Ratings, LLC. There was no change in the rating since August 13, 2019. The 2019 Asset-Backed Notes were repaid in full on November 22, 2023.

The 2019 Asset-Backed Notes were issued by the 2019‑1 Trust pursuant to a note purchase agreement, dated as of August 13, 2019, by and among the Company and Keybanc Capital Markets Inc. as Initial Purchaser, and were backed by a pool of loans made to certain portfolio companies of the Company and secured by certain assets of those portfolio companies and were to be serviced by the Company. Interest on the 2019 Asset-Backed Notes was paid, to the extent of funds available, at a fixed rate of 4.21% per annum. The reinvestment period of the 2019 Asset-Backed Notes ended July 15, 2021 and the maturity date was September 15, 2027.

As of December 31, 2023, the 2019 Asset-Backed Notes were repaid in full.

2022 Asset-Backed Notes

On November 9, 2022, the Company completed a term debt securitization in connection with which an affiliate of the Company made an offering of the 2022 Asset-Backed Notes. The 2022 Asset-Backed Notes were rated A by DBRS, Inc. There has been no change in the rating since November 9, 2022.

The 2022 Asset-Backed Notes were issued by the 2022‑1 Trust pursuant to a note purchase agreement, dated as of November 9, 2022, by and among the Company and Keybanc Capital Markets Inc. as Initial Purchaser, and are backed by a pool of loans made to certain portfolio companies of the Company and secured by certain assets of those portfolio companies and are to be serviced by the Company. Interest on the 2022 Asset-Backed Notes will be paid, to the extent of funds available, at a fixed rate of 7.56% per annum. The reinvestment period of the 2022 Asset-Backed Notes ends November 15, 2024 and the maturity date is November 15, 2030.

As of September 30, 2024 and December 31, 2023, the 2022 Asset-Backed Notes had an outstanding principal balance of $91.0 million and $100.0 million, respectively.

Under the terms of the 2022 Asset-Backed Notes, the Company is required to maintain a reserve cash balance, funded through proceeds from the sale of the 2022 Asset-Backed Notes, which may be used to pay monthly interest and principal payments on the 2022 Asset-Backed Notes. The Company has segregated these funds and classified them as restricted investments in money market funds. At September 30, 2024 and December 31, 2023, there were approximately $1.0 million and $1.3 million, respectively, of such restricted investments.

Unsecured Notes

2026 Notes

On March 30, 2021, the Company issued and sold an aggregate principal amount of $57.5 million of 4.875% notes due in 2026 (the “2026 Notes”). The amount of 2026 Notes issued and sold included the full exercise by the underwriters of their option to purchase $7.5 million in aggregate principal of additional notes. The 2026 Notes have a stated maturity of March 30, 2026 and may be redeemed in whole or in part at the Company’s option at any time or from time to time on or after March 30, 2023 at a redemption price of $25 per security plus accrued and unpaid interest. The 2026 Notes bear interest at a rate of 4.875% per year, payable quarterly on March 30, June 30, September 30 and December 30 of each year. The 2026 Notes are the Company’s direct unsecured obligations and (i) rank equally in right of payment with the Company’s current and future unsecured indebtedness; (ii) are senior in right of payment to any of the Company’s future indebtedness that expressly provides it is subordinated to the 2026 Notes; (iii) are effectively subordinated to all of the Company’s existing and future secured indebtedness (including indebtedness that is initially unsecured to which the Company subsequently grants security), to the extent of the value of the assets securing such indebtedness, and (iv) are structurally subordinated to all existing and future indebtedness and other obligations of any of the Company’s subsidiaries. As of September 30, 2024, the Company was in material compliance with the terms of the 2026 Notes. The 2026 Notes are listed on the New York Stock Exchange under the symbol “HTFB”.

2027 Notes

On June 15, 2022, the Company issued and sold an aggregate principal amount of $50.0 million of 6.25% notes due in 2027 and on July 11, 2022, pursuant to the underwriters’ 30 day option to purchase additional notes, the Company sold an additional $7.5 million of such notes (collectively, the “2027 Notes”). The 2027 Notes have a stated maturity of June 15, 2027 and may be redeemed in whole or in part at the Company’s option at any time or from time to time on or after June 15, 2024 at a redemption price of $25 per security plus accrued and unpaid interest. The 2027 Notes bear interest at a rate of 6.25% per year, payable quarterly on March 30, June 30, September 30 and December 30 of each year, commencing on September 30, 2022. The 2027 Notes are the Company’s direct unsecured obligations and (i) rank equally in right of payment with the Company’s current and future unsecured indebtedness; (ii) are senior in right of payment to any of the Company’s future indebtedness that expressly provides it is subordinated to the 2027 Notes; (iii) are effectively subordinated to all of the Company’s existing and future secured indebtedness (including indebtedness that is initially unsecured to which the Company subsequently grants security), to the extent of the value of the assets securing such indebtedness, and (iv) are structurally subordinated to all existing and future indebtedness and other obligations of any of the Company’s subsidiaries. As of September 30, 2024, the Company was in material compliance with the terms of the 2027 Notes. The 2027 Notes are listed on the New York Stock Exchange under the symbol “HTFC”.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Note 12 - Subsequent Events (Details Textual) - USD ($)	Oct. 18, 2025	Oct. 15, 2025	Oct. 23, 2024	Oct. 17, 2024	Oct. 07, 2024	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument, Face Amount						$ 705,970,000	$ 615,000,000
Subsequent Event [Member] \| The 2031 Convertible Notes [Member]
Debt Instrument, Face Amount				$ 20,000,000
Debt Instrument, Interest Rate, Stated Percentage				7.125%
Debt Instrument, Convertible, Conversion Price (in dollars per share)				$ 25
Proceeds from Convertible Debt				$ 18,600,000
Debt Instrument, Maturity Date				Oct. 16, 2031
Subsequent Event [Member] \| Venture Loan and Security Agreement [Member] \| CAMP NYC, Inc [Member]
Proceeds from Sale, Maturity and Collection of Investments			$ 2,000,000
Standvast Holdings, LLC [Member] \| Debt Securities [Member] \| Subsequent Event [Member]
Payments to Acquire Investments					$ 2,500,000
Swift Health Systems Inc. [Member] \| Debt Securities [Member] \| Forecast [Member]
Payments to Acquire Investments		$ 600,000
Better Place Forests Co. [Member] \| Debt Securities [Member] \| Forecast [Member]
Payments to Acquire Investments	$ 500,000

Note 11 - Financial Highlights (Tables)

9 Months Ended

Sep. 30, 2024

Investment Company, Financial Highlights [Table Text Block]

	*Nine months ended September 30,*
	*2024*				*2023*
	(In thousands, except share and per share data)
Per share data:
Net asset value at beginning of period	$	9.71			$	11.47
Net investment income		1.06				1.54
Realized loss		(0.89	)			(0.95	)
Unrealized appreciation (depreciation) on investments		0.02				(0.81	)
Net increase (decrease) in net assets resulting from operations		0.19				(0.22	)
Distributions declared⁽¹⁾		(1.04	)			(0.99	)
From net investment income		(1.04	)			(0.99	)
From net realized gain on investments		—				—
Return of capital		—				—
Other⁽²⁾		0.20				0.15
Net asset value at end of period	$	9.06			$	10.41
Per share market value, beginning of period	$	13.17			$	11.60
Per share market value, end of period	$	10.65			$	11.88
Total return based on a market value ⁽³⁾		(11.2	)%			10.9	%
Shares outstanding at end of period		37,803,064				33,306,958
Ratios to average net assets:
Expenses without incentive fee⁽⁴⁾		15.1	%			14.0	%
Incentive fees ⁽⁴⁾		0.1				1.2	%
Net expenses ⁽⁴⁾		15.2	%			15.2	%
Net investment income with incentive fee ⁽⁴⁾		15.0	%			18.5	%
Net assets at the end of the period	$	342,533			$	346,575
Average net asset value	$	331,853			$	335,531
Average debt per share	$	12.70			$	14.29
Portfolio turnover ratio		13.4	%	⁽⁵⁾		10.0	%	⁽⁵⁾

Note 7 - Borrowings (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Debt [Table Text Block]

	*September 30, 2024*							*December 31, 2023*
	*Total*		*Balance*			*Unused*		*Total*		*Balance*			*Unused*
	*Commitment*		*Outstanding*			*Commitment*		*Commitment*		*Outstanding*			*Commitment*
	(In thousands)
Key Facility	$	150,000	$	—		$	150,000	$	150,000	$	70,000		$	80,000
NYL Facility		250,000		181,000			69,000		250,000		181,000			69,000
Nuveen Facility		100,000		50,000			50,000		—		—			—
2022 Asset-Backed Notes		90,970		90,970			—		100,000		100,000			—
2027 Notes		57,500		57,500			—		57,500		57,500			—
2026 Notes		57,500		57,500			—		57,500		57,500			—
Total before debt issuance costs		705,970		436,970			269,000		615,000		466,000			149,000
Unamortized debt issuance costs attributable to term borrowings		—		(3,001	)		—		—		(3,765	)		—
Total borrowings outstanding, net	$	705,970	$	433,969		$	269,000	$	615,000	$	462,235		$	149,000

Note 2 - Basis of Presentation and Significant Accounting Policies

9 Months Ended

Sep. 30, 2024

Basis of Presentation and Significant Accounting Policies [Text Block]

Note 2. Basis of presentation and significant accounting policies

The consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and pursuant to the requirements for reporting on Form 10‑Q and Articles 6 and 10 of Regulation S-X (“Regulation S-X”) under the Securities Act of 1933, as amended (the “Securities Act”). In the opinion of management, the consolidated financial statements reflect all adjustments and reclassifications, consisting solely of normal recurring accruals, that are necessary for the fair presentation of financial results as of and for the periods presented. All intercompany balances and transactions have been eliminated. The current period’s results of operations are not necessarily indicative of results that ultimately may be achieved for the year. Therefore, the unaudited financial statements and notes should be read in conjunction with the audited financial statements and notes thereto as of and for the year ended December 31, 2023.

Principles of consolidation

As required under GAAP and Regulation S-X, the Company will generally consolidate its investment in a company that is an investment company subsidiary or a controlled operating company whose business consists of providing services to the Company. Accordingly, the Company consolidated the results of the Company’s wholly-owned subsidiaries in its consolidated financial statements.

Assets related to transactions that do not meet Accounting Standards Codification (“ASC”) Topic 860, Transfers and Servicing requirements for accounting sale treatment are reflected in the Company’s Consolidated Statements of Assets and Liabilities as investments. Those assets are owned by special purpose entities, including 2019‑1 Entities and 2022-1 Entities, that are consolidated in the Company’s consolidated financial statements. The creditors of the special purpose entities have received security interests in such assets, and such assets are not intended to be available to the creditors of the Company (or any affiliate of the Company).

Use of estimates

In preparing the consolidated financial statements in accordance with GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities, as of the date of the balance sheet and income and expenses for the period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the valuation of investments.

Fair value

The Company records all of its investments at fair value in accordance with relevant GAAP, which establishes a framework used to measure fair value and requires disclosures for fair value measurements. The Company has categorized its investments carried at fair value, based on the priority of the valuation technique, into a three-level fair value hierarchy as more fully described in Note 6. Fair value is a market-based measure considered from the perspective of the market participant who holds the financial instrument rather than an entity specific measure. Therefore, when market assumptions are not readily available, the Company’s own assumptions are set to reflect those that management believes market participants would use in pricing the financial instrument at the measurement date.

The availability of observable inputs can vary depending on the financial instrument and is affected by a wide variety of factors, including, for example, the type of product, whether the product is new, whether the product is traded on an active exchange or in the secondary market and the current market conditions. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for financial instruments classified as Level 3.

See Note 6 for additional information regarding fair value.

Segments

The Company has determined that it has a single reporting segment and operating unit structure. The Company lends to and invests in portfolio companies in various technology, life science, healthcare information and services and sustainability industries. The Company separately evaluates the performance of each of its lending and investment relationships. However, because each of these debt investments and investment relationships has similar business and economic characteristics, they have been aggregated into a single lending and investment segment.

Investments

Investments are recorded at fair value. Pursuant to the amended SEC Rule 2a-5 of the 1940 Act, on July 29, 2022, the Company's board of directors (the “Board”) designated the Advisor as the Company’s “valuation designee.” The valuation designee determines the fair value of the Company’s portfolio investments and the Company's Board oversees the valuation designee. The Company has the intent to hold its debt investments for the foreseeable future or until maturity or payoff.

Interest on debt investments is accrued and included in income based on contractual rates applied to principal amounts outstanding. Interest income is determined using a method that results in a level rate of return on principal amounts outstanding. Generally, when a debt investment becomes 90 days or more past due, or if the Company otherwise does not expect to receive interest and principal repayments, the debt investment is placed on non-accrual status and the recognition of interest income may be discontinued. Interest payments received on non-accrual debt investments may be recognized as income, on a cash basis, or applied to principal depending upon management’s judgment at the time the debt investment is placed on non-accrual status. As of September 30, 2024, there were four investments on nonaccrual status with a cost of $51.4 million and a fair value of $36.1 million. As of December 31, 2023, there were four investments on non-accrual status with a cost of $72.5 million and a fair value of $27.6 million. For the three and nine months ended September 30, 2024, the Company recognized interest income of $0.2 million from debt investments while on non-accrual status. For the three and nine months ended September 30, 2023, the Company did not recognize any interest income from debt investments while on non-accrual status.

The Company has a limited number of debt investments that contain a PIK provision. Contractual PIK interest, which represents contractually deferred interest added to the loan balance that is generally due at the end of the loan term, is generally recorded on an accrual basis to the extent such amounts are expected to be collected. For the three months ended September 30, 2024 and 2023, 1.5% and 13.5%, respectively, of the Company's total investment income was attributable to non-cash PIK interest. For the nine months ended September 30, 2024 and 2023, 2.8% and 7.1%, respectively, of the Company's total investment income was attributable to non-cash PIK interest. The Company will generally cease accruing PIK interest if management does not expect the portfolio company to be able to pay all principal and interest due. For the three months ended September 30, 2024, no debt investments, which had accrued PIK interest into income, were placed on nonaccrual status. For the nine months ended September 30, 2024, one debt investment, which had accrued PIK interest into income of $1.0 million during the nine months ended September 30, 2024 was placed on nonaccrual status. For the three and nine months ended September 30, 2023, three debt investments, which had accrued PIK interest into income of $3.7 million and $5.8 million during the three and nine months ended September 30, 2023, respectively, were placed on nonaccrual status.

The Company receives a variety of fees from borrowers in the ordinary course of conducting its business, including advisory fees, commitment fees, amendment fees, non-utilization fees, success fees and prepayment fees. In a limited number of cases, the Company may also receive a non-refundable deposit earned upon the termination of a transaction. Debt investment origination fees, net of certain direct origination costs, are deferred and, along with unearned income, are amortized as a level-yield adjustment over the respective term of the debt investment. All other income is recognized when earned. Fees for counterparty debt investment commitments with multiple debt investments are allocated to each debt investment based upon each debt investment’s relative fair value. When a debt investment is placed on non-accrual status, the amortization of the related fees and unearned income is discontinued until the debt investment is returned to accrual status.

Certain debt investment agreements also require the borrower to make an ETP, that is accrued into interest receivable and taken into income over the life of the debt investment to the extent such amounts are expected to be collected. The Company will generally cease accruing the income if there is insufficient value to support the accrual or the Company does not expect the borrower to be able to pay the ETP when due. The proportion of the Company’s total investment income that resulted from the portion of ETPs not received in cash for the three months ended September 30, 2024 and 2023 was 4.6% and 5.1%, respectively. The proportion of the Company’s total investment income that resulted from the portion of ETPs not received in cash for the nine months ended September 30, 2024 and 2023 was 6.0% and 4.9%, respectively.

In connection with substantially all lending arrangements, the Company receives warrants to purchase shares of stock from the borrower. The warrants are recorded as assets at estimated fair value on the grant date using the Black-Scholes valuation model. The warrants are considered loan fees and are recorded as unearned income on the grant date. The unearned income is recognized as interest income over the contractual life of the related debt investment in accordance with the Company’s income recognition policy. Subsequent to debt investment origination, the fair value of the warrants is determined using the Black-Scholes valuation model. Any adjustment to fair value is recorded through earnings as net unrealized appreciation or depreciation on investments. Gains and losses from the disposition of the warrants or stock acquired from the exercise of warrants are recognized as realized gains and losses on investments.

Realized gains or losses on the sale of investments, or upon the determination that an investment balance, or portion thereof, is not recoverable, are calculated using the specific identification method. The Company measures realized gains or losses by calculating the difference between the net proceeds from the repayment or sale and the amortized cost basis of the investment. Net change in unrealized appreciation or depreciation reflects the change in the fair values of the Company’s portfolio investments during the reporting period, including any reversal of previously recorded unrealized appreciation or depreciation when gains or losses are realized.

Debt issuance costs

Debt issuance costs are fees and other direct incremental costs incurred by the Company in obtaining debt financing from its lenders and issuing debt securities. The unamortized balance of debt issuance costs as of September 30, 2024 and December 31, 2023 was $7.9 million and $5.8 million, respectively. These amounts are capitalized and amortized and included in interest expense in the consolidated statements of operations over the life of the borrowings. The accumulated amortization balances as of September 30, 2024 and December 31, 2023 were $6.7 million and $5.2 million, respectively. The amortization expense for the three months ended September 30, 2024 and 2023 was $0.5 million and $0.5 million, respectively. The amortization expense for the nine months ended September 30, 2024 and 2023 was $1.3 million and $1.4 million, respectively.

Income taxes

As a BDC, the Company has elected to be treated as a RIC under Subchapter M of the Code and operates in a manner so as to qualify for the tax treatment applicable to RICs. In order to qualify as a RIC and to avoid the imposition of corporate-level income tax on the portion of its taxable income distributed to stockholders, among other things, the Company is required to meet certain source of income and asset diversification requirements and to timely distribute dividends out of assets legally available for distribution to its stockholders of an amount generally at least equal to 90% of its investment company taxable income, as defined by the Code and determined without regard to any deduction for dividends paid, for each tax year. The Company, among other things, has made and intends to continue to make the requisite distributions to its stockholders, which generally relieves the Company from corporate-level U.S. federal income taxes. Accordingly, no provision for federal income tax has been recorded in the financial statements. Differences between taxable income and net increase in net assets resulting from operations either can be temporary, meaning they will reverse in the future, or permanent. In accordance with ASC Topic 946, Financial Services—Investment Companies, as amended, of the Financial Accounting Standards Board (“FASB”), permanent tax differences, such as non-deductible excise taxes paid, are reclassified from distributions in excess of net investment income and net realized loss on investments to paid-in-capital at the end of each fiscal year. These permanent book-to-tax differences are reclassified on the consolidated statements of changes in net assets to reflect their tax character but have no impact on total net assets.

Depending on the level of taxable income earned in a tax year, the Company may choose to carry forward taxable income in excess of current year distributions into the next tax year and incur a 4% U.S. federal excise tax on such income, as required. To the extent that the Company determines that its estimated current year annual taxable income will be in excess of estimated current year distributions, the Company accrues excise tax, if any, on estimated excess taxable income as taxable income is earned. For the three months ended September 30, 2024 and 2023, $0.4 million and $0.2 million, respectively, was accrued for U.S. federal excise tax. For the nine months ended September 30, 2024 and 2023, $1.1 million and $0.5 million, respectively, was accrued for U.S. federal excise tax.

The Company evaluates tax positions taken in the course of preparing the Company’s tax returns to determine whether the tax positions are “more-likely-than-not” to be sustained by the applicable tax authority in accordance with ASC Topic 740, Income Taxes, as modified by ASC Topic 946. Tax benefits of positions not deemed to meet the more-likely-than-not threshold, or uncertain tax positions, would be recorded as a tax expense in the current year. It is the Company’s policy to recognize accrued interest and penalties related to uncertain tax benefits in income tax expense. The Company had no material uncertain tax positions at September 30, 2024 and December 31, 2023. The Company’s income tax returns for the 2024, 2023, 2022 and 2021 tax years remain subject to examination by U.S. federal and state tax authorities.

Distributions

Distributions to common stockholders are recorded on the declaration date. The amount to be paid out as distributions is determined by the Board. Net realized capital gains, if any, may be distributed, although the Company may decide to retain such net realized gains for investment.

The Company has adopted a dividend reinvestment plan that provides for reinvestment of cash distributions on behalf of its stockholders, unless a stockholder elects to receive cash. As a result, if the Board declares a cash distribution, then stockholders who have not “opted out” of the dividend reinvestment plan will have their cash distributions automatically reinvested in additional shares of the Company’s common stock, rather than receiving the cash distribution. The Company may issue new shares or purchase shares in the open market to fulfill its obligations under the plan.

Stockholders’ Equity

On August 2, 2021, the Company entered into an At-The-Market (“ATM”) sales agreement (the “2021 Equity Distribution Agreement”), with Goldman Sachs & Co. LLC and B. Riley FBR, Inc. (each a “Sales Agent” and, collectively, the “Sales Agents”). The 2021 Equity Distribution Agreement provided that the Company may offer and sell its shares of common stock from time to time through the Sales Agents representing up to $100.0 million worth of its common stock, in amounts and at times to be determined by the Company.

On September 22, 2023, the Company terminated the 2021 Equity Distribution Agreement and entered into a new ATM sales agreement (the “2023 Equity Distribution Agreement”), with the Sales Agents. The remaining shares available under the 2021 Equity Distribution Agreement are no longer available for issuance. The 2023 Equity Distribution Agreement provides that the Company may offer and sell its shares of common stock from time to time through the Sales Agents up to $150.0 million worth of its common stock, in amounts and at times to be determined by the Company. Sales of the Company’s common stock, if any, may be made in negotiated transactions or transactions that are deemed to be “at-the-market,” as defined in Rule 415 under the Securities Act, including sales made directly on the Nasdaq or similar securities exchange or sales made to or through a market maker other than on an exchange, at prices related to the prevailing market prices or at negotiated prices.

During the three months ended September 30, 2024, the Company sold 1,709,096 shares of common stock under the 2023 Equity Distribution Agreement. For the same period, the Company received total accumulated net proceeds of approximately $18.4 million, including $0.4 million of offering expenses, from these sales.

During the three months ended September 30, 2023, the Company sold 1,186,303 shares of common stock under the 2023 Equity Distribution Agreement and the 2021 Equity Distribution Agreement. For the same period, the Company received total accumulated net proceeds of approximately $13.9 million, including $0.4 million of offering expenses, from these sales.

During the nine months ended September 30, 2024, the Company sold 4,279,141 shares of common stock under the 2023 Equity Distribution Agreement. For the same period, the Company received total accumulated net proceeds of approximately $47.5 million, including $1.0 million of offering expenses, from these sales.

During the nine months ended September 30, 2023, the Company sold 2,240,326 shares of common stock under the 2023 Equity Distribution Agreement and the 2021 Equity Distribution Agreement. For the same period, the Company received total accumulated net proceeds of approximately $26.1 million, including $0.7 million of offering expenses, from these sales.

The Company generally uses net proceeds from these offerings to make investments, to pay down liabilities and for general corporate purposes. As of September 30, 2024, shares representing approximately $98.2 million of its common stock remain available for issuance and sale under the 2023 Equity Distribution Agreement.

On June 2, 2023, the Company completed a follow-on public offering of 3,250,000 shares of our common stock at a public offering price of $12.50 per share, for total net proceeds to us of $38.9 million, after deducting underwriting commission and discounts and other offering expenses.

Stock Repurchase Program

On April 26, 2024, the Board extended a previously authorized stock repurchase program which allows the Company to repurchase up to $5.0 million of its common stock at prices below the Company’s net asset value per share as reported in its most recent consolidated financial statements. Under the repurchase program, the Company may, but is not obligated to, repurchase shares of its outstanding common stock in the open market or in privately negotiated transactions from time to time. Any repurchases by the Company will comply with the requirements of Rule 10b‑18 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and any applicable requirements of the 1940 Act. Unless extended by the Board, the repurchase program will terminate on the earlier of June 30, 2025 or the repurchase of $5.0 million of the Company’s common stock. During the three and nine months ended September 30, 2024 and 2023, the Company did not make any repurchases of its common stock. From the inception of the stock repurchase program through September 30, 2024, the Company repurchased 167,465 shares of its common stock at an average price of $11.22 on the open market at a total cost of $1.9 million.

Transfers of financial assets

Assets related to transactions that do not meet the requirements under ASC Topic 860, Transfers and Servicing for sale treatment under GAAP are reflected in the Company’s consolidated statements of assets and liabilities as investments. Those assets are owned by special purpose entities that are consolidated in the Company’s financial statements. The creditors of the special purpose entities have received security interests in such assets and such assets are not intended to be available to the creditors of the Company (or any other affiliate of the Company).

Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company — put presumptively beyond the reach of the transferor and its creditors, even in bankruptcy or other receivership, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets and (3) the transferor does not maintain effective control over the transferred assets through either (a) an agreement that both entitles and obligates the transferor to repurchase or redeem the assets before maturity or (b) the ability to unilaterally cause the holder to return specific assets, other than through a cleanup call.

Recently issued accounting pronouncement

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”). ASU 2023-07 is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment's profit or loss and assess potential future cash flows for each reportable segment and the entity as a whole. The amendments expand a public entity's segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker, clarifying when an entity may report one or more additional measures to assess segment performance, requiring enhanced interim disclosures and providing new disclosure requirements for entities with a single reportable segment, among other new disclosure requirements. The amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and early adoption is permitted. The Company is currently evaluating the impact of adopting this guidance with respect to the consolidated financial statements and disclosures.

Recently adopted accounting pronouncement

In June 2022, the FASB issued Accounting Standards Update No. 2022-03, Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (“ASU 2022-03”). ASU 2022-03 clarifies the guidance when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of the security. The amendments in ASU 2022-03 were effective for public companies for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. The adoption of ASU 2022-03 did not have a material impact on the Company’s consolidated financial statements.

Note 6 - Fair Value - Reconciliation of Level 3 Assets Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Balance	$ 646,232	$ 713,244	$ 706,858	$ 716,319
Purchase of investments	85,827	66,935	121,211	154,488
Warrants and equity received and classified as Level 3	411	1,294	1,628	2,039
Principal payments received on investments	(44,392)	(25,726)	(120,448)	(90,222)
Payment-in-kind interest on investments	377	3,934	2,114	6,088
Proceeds from sale of investments	(69)	(2,557)	(157)	(11,063)
Net realized (loss) gain on investments	(33,894)	(11,552)	(31,213)	(28,198)
Unrealized appreciation (depreciation) included in earnings	28,974	(20,722)	1,906	(26,384)
Transfer out of warrant investments	0	0	0	0
Other	(456)	(715)	1,111	1,179
Balance	683,010	719,135	683,010	719,135
Transfer out of Level 3	0	(5,000)	0	(5,111)
Debt [Member]
Balance	609,068	683,309	670,172	686,458
Purchase of investments	85,782	66,185	119,564	153,728
Warrants and equity received and classified as Level 3	0	0	0	0
Principal payments received on investments	(44,347)	(25,726)	(120,333)	(90,222)
Payment-in-kind interest on investments	377	3,934	2,114	6,088
Proceeds from sale of investments	(69)	(2,528)	(113)	(9,564)
Net realized (loss) gain on investments	(33,385)	(11,440)	(33,344)	(29,105)
Unrealized appreciation (depreciation) included in earnings	37,574	(18,877)	18,564	(21,325)
Transfer out of warrant investments	(21,260)	(9,304)	(24,451)	(12,399)
Other	(456)	(715)	1,111	1,179
Balance	633,284	679,838	633,284	679,838
Transfer out of Level 3		(5,000)		(5,000)
Warrant [Member]
Balance	21,131	24,376	22,975	26,145
Purchase of investments	0	0	0	0
Warrants and equity received and classified as Level 3	411	1,294	1,628	1,950
Principal payments received on investments	0	0	0	0
Payment-in-kind interest on investments	0	0	0	0
Proceeds from sale of investments	0	(23)	(4)	(1,493)
Net realized (loss) gain on investments	(509)	(118)	2,091	1,028
Unrealized appreciation (depreciation) included in earnings	(2,655)	(296)	(5,631)	(2,392)
Transfer out of warrant investments	(73)	0	(2,754)	(5)
Other	0	0	0	0
Balance	18,305	25,233	18,305	25,233
Transfer out of Level 3		0		0
Equity Securities [Member]
Balance	6,850	4,259	7,281	2,416
Purchase of investments	0	750	1,250	760
Warrants and equity received and classified as Level 3	0	0	0	89
Principal payments received on investments	0	0	0	0
Payment-in-kind interest on investments	0	0	0	0
Proceeds from sale of investments	0	(6)	0	(6)
Net realized (loss) gain on investments	0	6	0	(121)
Unrealized appreciation (depreciation) included in earnings	(162)	(1,349)	(4,524)	(2,467)
Transfer out of warrant investments	6,789	3,150	9,470	6,250
Other	0	0	0	0
Balance	13,477	6,810	13,477	6,810
Transfer out of Level 3		0		(111)
Other Investments [Member]
Balance	9,183	1,300	6,430	1,300
Purchase of investments	45	0	397	0
Warrants and equity received and classified as Level 3	0	0	0	0
Principal payments received on investments	(45)	0	(115)	0
Payment-in-kind interest on investments	0	0	0	0
Proceeds from sale of investments	0	0	(40)	0
Net realized (loss) gain on investments	0	0	40	0
Unrealized appreciation (depreciation) included in earnings	(5,783)	(200)	(6,503)	(200)
Transfer out of warrant investments	14,544	6,154	17,735	6,154
Other	0	0	0	0
Balance	$ 17,944	7,254	$ 17,944	7,254
Transfer out of Level 3		$ 0		$ 0

Note 2 - Basis of Presentation and Significant Accounting Policies (Details Textual) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended		41 Months Ended
	Jun. 02, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Apr. 26, 2024	Dec. 31, 2023	Sep. 22, 2023	Aug. 02, 2021
Investments, Nonaccrual, Interest Income		$ 200	$ 0	$ 200	$ 0
Investment, Income Attributable to Non-cash Paid-in-Kind Interest, Percent		1.50%	13.50%	2.80%	7.10%
Interest Income, Operating, Paid in Kind				$ 2,114	$ 6,088
Investment, Nonaccrual, Income Not Received in Cash, Percent		4.60%	5.10%	6.00%	4.90%
Debt Issuance Costs, Net		$ 7,900		$ 7,900		$ 7,900		$ 5,800
Accumulated Amortization, Debt Issuance Costs		6,700		6,700		$ 6,700		5,200
Amortization of Debt Issuance Costs		$ 500	$ 500	$ 1,272	$ 1,433
Federal Excise Tax, Percent		4.00%		4.00%		4.00%
Excise and Sales Taxes		$ 400	$ 200	$ 1,100	500
Unrecognized Tax Benefits, Ending Balance		$ 0		$ 0		$ 0		0
Open Tax Year				2024 2023 2022 2021
Proceeds from Issuance of Common Stock				$ 47,527	$ 65,031
Share Repurchase Program, Authorized, Amount							$ 5,000
Stock Repurchased During Period, Shares (in shares)		0	0	0	0	167,465
Stock Repurchased During Period, Per Share (in dollars per share)						$ 11.22
Stock Repurchased During Period, Value						$ 1,900
The 2021 Equity Distribution Agreement [Member]
Equity Sales Agreement, Maximum Value										$ 100,000
Equity Sales Agreement, Remaining Amount Available for Issuance									$ 0
The 2023 Equity Distribution Agreement [Member]
Equity Sales Agreement, Maximum Value									$ 150,000
Equity Sales Agreement, Remaining Amount Available for Issuance		$ 98,200		$ 98,200		98,200
Stock Issued During Period, Shares, New Issues (in shares)		1,709,096	1,186,303	4,279,141	2,240,326
Proceeds from Issuance of Common Stock		$ 18,400	$ 13,900	$ 47,500	$ 26,100
Payments of Stock Issuance Costs		400	400	1,000	700
Public Offering [Member]
Stock Issued During Period, Shares, New Issues (in shares)	3,250,000
Proceeds from Issuance of Common Stock	$ 12,500
Payments of Stock Issuance Costs	$ 38,900
Four Investments [Member]
Investments, Cost, Nonaccrual Status		51,400		51,400		51,400		72,500
Investments, Fair Value, Nonaccrual Status		$ 36,100		36,100		$ 36,100		$ 27,600
One Investment [Member]
Interest Income, Operating, Paid in Kind				$ 1,000
Three Investments [Member]
Interest Income, Operating, Paid in Kind			$ 3,700		$ 5,800

Note 6 - Fair Value - Assets at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Recurring [Member]
Investments, fair value	$ 684,000	$ 709,085
Fair Value, Recurring [Member] \| Debt [Member]
Investments, fair value	633,284	670,172
Fair Value, Recurring [Member] \| Warrant [Member]
Investments, fair value	18,735	24,594
Fair Value, Recurring [Member] \| Other Investments [Member]
Investments, fair value	17,944	6,430
Fair Value, Recurring [Member] \| Equity Securities [Member]
Investments, fair value	14,037	7,889
Fair Value, Inputs, Level 1 [Member] \| Fair Value, Recurring [Member]
Investments, fair value	560	608
Fair Value, Inputs, Level 1 [Member] \| Fair Value, Recurring [Member] \| Debt [Member]
Investments, fair value	0	0
Fair Value, Inputs, Level 1 [Member] \| Fair Value, Recurring [Member] \| Warrant [Member]
Investments, fair value	0	0
Fair Value, Inputs, Level 1 [Member] \| Fair Value, Recurring [Member] \| Other Investments [Member]
Investments, fair value	0	0
Fair Value, Inputs, Level 1 [Member] \| Fair Value, Recurring [Member] \| Equity Securities [Member]
Investments, fair value	560	608
Fair Value, Inputs, Level 2 [Member] \| Fair Value, Recurring [Member]
Investments, fair value	430	1,619
Fair Value, Inputs, Level 2 [Member] \| Fair Value, Recurring [Member] \| Debt [Member]
Investments, fair value	0	0
Fair Value, Inputs, Level 2 [Member] \| Fair Value, Recurring [Member] \| Warrant [Member]
Investments, fair value	430	1,619
Fair Value, Inputs, Level 2 [Member] \| Fair Value, Recurring [Member] \| Other Investments [Member]
Investments, fair value	0	0
Fair Value, Inputs, Level 2 [Member] \| Fair Value, Recurring [Member] \| Equity Securities [Member]
Investments, fair value	0	0
Fair Value, Inputs, Level 3 [Member]
Investments, fair value	683,010	706,858
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Recurring [Member]
Investments, fair value	683,010	706,858
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Recurring [Member] \| Debt [Member]
Investments, fair value	633,284	670,172
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Recurring [Member] \| Warrant [Member]
Investments, fair value	18,305	22,975
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Recurring [Member] \| Other Investments [Member]
Investments, fair value	17,944	6,430
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Recurring [Member] \| Equity Securities [Member]
Investments, fair value	$ 13,477	$ 7,281

Note 8 - Financial Instruments With Off-balance-sheet Risk (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Fair Value, off-Balance-Sheet Risks [Table Text Block]

	*September 30, 2024*				*December 31, 2023*
			*Fair Value of*				*Fair Value of*
			*Unfunded*				*Unfunded*
	*Commitment*		*Commitment*		*Commitment*		*Commitment*
	*Amount*		*Liability*		*Amount*		*Liability*
	(In thousands)				(In thousands)
Better Place Forests Co.	$	1,000	$	—	$	—	$	—
BrightInsight, Inc.		10,000		132		15,500		241
Britecore Holdings, Inc.		2,500		36		5,000		72
Candesant Biomedical Corporation		10,000		151		10,000		151
Ceribell, Inc.		21,000		120		—		—
Divergent Technologies, Inc.		—		—		11,250		118
Elligo Healthcare Research, Inc.		7,500		97		15,000		194
Fictiv, Inc.		30,000		236		—		—
GT Medical Technologies, Inc.		20,000		100		—		—
Hometeam Technologies, Inc.		10,000		100		—		—
MicroTransponder, Inc.		22,500		—		22,500		—
Mirantis, Inc.		—		—		15,000		136
Optoro, Inc.		—		—		6,250		—
Parse Biosciences, Inc.		15,000		252		15,000		251
Pivot Bio, Inc.		20,000		209		—		—
SafelyYou, Inc.		10,000		147		20,000		270
Sonex Health, Inc.		—		—		15,000		176
Standvast Holdings, LLC		5,000		175		—		—
Supply Network Visibility Holdings, LLC		5,000		17		10,000		35
Swift Health Systems, Inc.		375		—		—		—
Tallac Therapeutics, Inc.		—		—		10,000		229
Viken Detection Corporation		—		—		10,000		160
Total	$	189,875	$	1,772	$	180,500	$	2,033

Note 5 - Transactions With Affiliated Companies

9 Months Ended

Sep. 30, 2024

Investments in and Advances to Affiliates, Schedule of Investments [Text Block]

Note 5. Transactions with affiliated companies

A non-controlled affiliated company is generally a portfolio company in which the Company owns 5% or more of such portfolio company’s voting securities but not more than 25% of such portfolio company’s voting securities.

Transactions related to investments in non-controlled affiliated companies for the three months ended September 30, 2024 were as follows:

					*Three months ended September 30, 2024*

	*Fair value at*							*Transfers*				*Net*					*Fair value at*
Portfolio	*June 30,*				*Principal*			*in/(out) at*		*Discount*		*unrealized*			*Net realized*		*September 30,*
Company	*2024*		*Purchases*		*payments*			*fair value*		*accretion*		*gain/(loss)*			*gain/(loss)*		*2024*
	(In thousands)
Aulea Medical, Inc.	$	—	$	—	$	—		$	—	$	—	$	—		$	—	$	—
Evelo Biosciences, Inc.		3,503		—		(318	)		—		—		(1,360	)		—		1,825
		5,340		127		(476	)		—		—		(2,159	)		—		2,832
		2,101		—		(191	)		—		—		(815	)		—		1,095
		2,101		—		(191	)		—		—		(815	)		—		1,095
		1,401		—		(127	)		—		—		(544	)		—		730
		1,401		—		(127	)		—		—		(544	)		—		730
Total non-controlled affiliates	$	15,847	$	127	$	(1,430	)	$	—	$	—	$	(6,237	)	$	—	$	8,307

Transactions related to investments in non-controlled affiliated companies for the three months ended September 30, 2023 were as follows:

					*Three months ended September 30, 2023*

	*Fair value at*						*Transfers*					*Net*					*Fair value at*
Portfolio	*June 30,*				*Principal*		*in/(out) at*			*Discount*		*unrealized*			*Net realized*		*September 30,*		*Interest*
Company	*2023*		*Purchases*		*payments*		*fair value*			*accretion*		*gain/(loss)*			*gain/(loss)*		*2023*		*income*
	(In thousands)
Aulea Medical, Inc.	$	—	$	—	$	—	$	—		$	—	$	—		$	—	$	—	$	—
Cadrenal Therapeutics, Inc. (1)		906		—		—		(906	)		—		—			—		—		—
Evelo Biosciences, Inc.		—		—		—		7,665			8		(5,007	)		—		2,666		277
		—		—		—		11,496			11		(7,510	)		—		3,997		415
		—		—		—		4,612			5		(3,013	)		—		1,604		166
		—		—		—		4,598			3		(3,004	)		—		1,597		163
		—		—		—		3,067			4		(2,003	)		—		1,068		114
		—		—		—		3,067			4		(2,003	)		—		1,068		111
		—		—		—		5,000			—		3,485			—		8,485		—
Total non-controlled affiliates	$	906	$	—	$	—	$	38,599		$	35	$	(19,055	)	$	—	$	20,485	$	1,246

(1)	As of September 30, 2023, the Company no longer owns 5% or more of the portfolio company.

Transactions related to investments in non-controlled affiliated companies for the nine months ended September 30, 2024 were as follows:

					*Nine months ended September 30, 2024*
	*Fair value at*							*Transfers*				*Net*					*Fair value at*
Portfolio	*December 31,*				*Principal*			*in/(out) at*		*Discount*		*unrealized*			*Net realized*		*September 30,*		*Interest*
Company	*2023*		*Purchases*		*payments*			*fair value*		*accretion*		*gain/(loss)*			*gain/(loss)*		*2024*		*income*
	(In thousands)
Aulea Medical, Inc.	$	—	$	3	$	(40	)	$	—	$	—	$	—		$	37	$	—	$	—
Evelo Biosciences, Inc.		222		—		(318	)		—		—		1,921			—		1,825		—
		336		231		(476	)		—		—		2,741			—		2,832		—
		133		—		(191	)		—		—		1,153			—		1,095		—
		133		—		(191	)		—		—		1,153			—		1,095		—
		88		—		(127	)		—		—		769			—		730		—
		88		—		(127	)		—		—		769			—		730		—
		132		—		—			—		—		(132	)		—		—		—
Total non-controlled affiliates	$	1,132	$	234	$	(1,470	)	$	—	$	—	$	8,374		$	37	$	8,307	$	—

Transactions related to investments in non-controlled affiliated companies for the nine months ended September 30, 2023 were as follows:

					*Nine months ended September 30, 2023*

	*Fair value at*						*Transfers*					*Net*					*Fair value at*
Portfolio	*December 31,*				Principal		*in/(out) at*			*Discount*		*unrealized*			*Net realized*		*September 30,*		*Interest*
Company	*2022*		*Purchases*		*payments*		*fair value*			*accretion*		*gain/(loss)*			*gain/(loss)*		*2023*		*income*
	(In thousands)
Aulea Medical, Inc.	$	—	$	—	$	—	$	—		$	—	$	—		$	—	$	—	$	—
Cadrenal Therapeutics, Inc. (1)		—		—		—		(906	)		—		906			—		—		—
Evelo Biosciences, Inc.		—		—		—		7,665			8		(5,007	)		—		2,666		277
		—		—		—		11,496			11		(7,510	)		—		3,997		415
		—		—		—		4,612			5		(3,013	)		—		1,604		166
		—		—		—		4,598			3		(3,004	)		—		1,597		163
		—		—		—		3,067			4		(2,003	)		—		1,068		114
		—		—		—		3,067			4		(2,003	)		—		1,068		111
		—		—		—		5,000			—		3,485			—		8,485		—
Total non-controlled affiliates	$	—	$	—	$	—	$	38,599		$	35	$	(18,149	)	$	—	$	20,485	$	1,246

(1)	As of September 30, 2023, the Company no longer owns 5% or more of the portfolio company.

A controlled affiliated company is generally a portfolio company in which the Company owns more than 25% of such portfolio company’s voting securities or has the power to exercise control over management or policies of such portfolio company (including through a management agreement).

Transactions related to investments in controlled affiliated companies for the three months ended September 30, 2024 were as follows:

					*Three months ended September 30, 2024*

	*Fair value at*									*Transfers*				*Net*					*Fair value at*
Portfolio	*June 30,*				*Principal*					*in/(out) at*		*Discount*		*unrealized*			*Net realized*		*September 30,*		*Interest*
Company	*2024*		*Purchases*		*payments*			*PIK*		*fair value*		*accretion*		*gain/(loss)*			*gain/(loss)*		*2024*		*income*
	(In thousands)
Better Place Forests Co.	$	3,166	$	—	$	—		$	119	$	—	$	2	$	(53	)	$	—	$	3,234	$	125
		1,549		—		—			59		—		1		(26	)		—		1,583		63
		420		—		—			16		—		—		53			—		489		16
		415		—		—			16		—		—		53			—		484		16
		—		500		—			6		—		—		(32	)		—		474		6
HIMV LLC		5,836		—		(45	)		—		—		—		499			—		6,290		—
Nexii, Inc.		—		—		—			—		6,716		—		(167	)		—		6,549		15
		—		790		—			—		—		—		(162	)		—		628		—
Total controlled affiliates	$	11,386	$	1,290	$	(45	)	$	216	$	6,716	$	3	$	165		$	—	$	19,731	$	241

Transactions related to investments in controlled affiliated companies for the three months ended September 30, 2023 were as follows:

					*Three months ended September 30, 2023*

	*Fair value at*								*Transfers*				*Net*					*Fair value at*
Portfolio	*June 30,*				*Principal*				*in/(out) at*		*Discount*		*unrealized*			*Net realized*		*September 30,*		*Interest*
Company	*2023*		*Purchases*		*payments*		*PIK*		*fair value*		*accretion*		*gain/(loss)*			*gain/(loss)*		*2023*		*income*
	(In thousands)
Better Place Forests Co.	$	—	$	59	$	—	$	105	$	1,759	$	2	$	1,080		$	—	$	3,005	$	111
		—		—		—		53		844		1		536			—		1,434		55
		—		—		—		—		2,061		—		—			—		2,061		—
		—		750		—		—		—		—		(259	)		—		491		—
HIMV LLC		—		—		—		—		6,154		—		—			—		6,154		—
Total controlled affiliates	$	—	$	809	$	—	$	158	$	10,818	$	3	$	1,357		$	—	$	13,145	$	166

Transactions related to investments in controlled affiliated companies for the nine months ended September 30, 2024 were as follows:

					*Nine months ended September 30, 2024*

	*Fair value at*									*Transfers*				*Net*					*Fair value at*
Portfolio	*December 31,*				*Principal*					*in/(out) at*		*Discount*		*unrealized*			*Net realized*		*September 30,*		*Interest*
Company	*2023*		*Purchases*		*payments*			*PIK*		*fair value*		*accretion*		*gain/(loss)*			*gain/(loss)*		*2024*		*income*
	(In thousands)
Better Place Forests Co.	$	3,339	$	—	$	—		$	345	$	—	$	6	$	(456	)	$	—	$	3,234	$	363
		1,630		—		—			171		—		4		(222	)		—		1,583		184
		—		500		—			21		—		—		(32	)		—		489		21
		—		500		—			17		—		—		(33	)		—		484		17
		—		500		—			6		—		—		(32	)		—		474		6
		3,024		1,250		—			—		—		—		(4,274	)		—		—		—
HIMV LLC		6,230		227		(592	)		—		463		—		(38	)		—		6,290		—
Nexii, Inc.		—		—		—			—		6,716		—		(167	)		—		6,549		15
		—		790		—			—		—		—		(162	)		—		628		—
Total controlled affiliates	$	14,223	$	3,767	$	(592	)	$	560	$	7,179	$	10	$	(5,416	)	$	—	$	19,731	$	606

Transactions related to investments in controlled affiliated companies for the nine months ended September 30, 2023 were as follows:

					*Nine months ended September 30, 2023*

	*Fair value at*								*Transfers*				*Net*					*Fair value at*
Portfolio	*December 31,*				*Principal*				*in/(out) at*		*Discount*		*unrealized*			*Net realized*		*September 30,*		*Interest*
Company	*2022*		*Purchases*		*payments*		*PIK*		*fair value*		*accretion*		*gain/(loss)*			*gain/(loss)*		*2023*		*income*
	(In thousands)
Better Place Forests Co.	$	—	$	59	$	—	$	105	$	1,759	$	2	$	1,080		$	—	$	3,005	$	111
		—		—		—		53		844		1		536			—		1,434		55
		—		—		—		—		2,061		—		—			—		2,061		—
		—		750		—		—		—		—		(259	)		—		491		—
HIMV LLC		—		—		—		—		6,154		—		—			—		6,154		—
Total controlled affiliates	$	—	$	809	$	—	$	158	$	10,818	$	3	$	1,357		$	—	$	13,145	$	166

Consolidated Schedule of Investments (Unaudited) (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Jul. 31, 2023	Nov. 09, 2022
Debt Instrument, Face Amount	$ 705,970	$ 615,000
Percentage of Nonqualifying Assets on a Cost Basis		4.70%
Percentage of Nonqualifying Assets on a Fair Value Basis		2.70%
Investment, Affiliated Issuer, Noncontrolled [Member] \| Medical Device Sector [Member] \| Aulea Medical Inc 1[Member]
Investment Owned, Balance, Shares (in shares)			660,537
Investment, Affiliated Issuer, Controlled [Member] \| HIMV LLC [Member] \| Co-lender [Member]
Investment Owned, Net Assets, Percentage		30.00%
Investment, Unaffiliated Issuer [Member] \| Software Sector [Member] \| DropOff, Inc. [Member]
Investment, Interest Rate, Paid in Kind		4.50%
Horizon Technology Finance Corporation [Member] \| Investment, Affiliated Issuer, Controlled [Member] \| HIMV LLC [Member]
Investment Owned, Net Assets, Percentage	70.00%	70.00%
Asset-backed Notes 2022 [Member]
Debt Instrument, Face Amount	$ 90,970	$ 100,000		$ 157,800
Asset-backed Notes 2022 [Member] \| Affiliated Entity [Member]
Debt Instrument, Face Amount				$ 100,000

Note 8 - Financial Instruments With Off-balance-sheet Risk - Unfunded Commitments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Unfunded commitments, principal balance	$ 189,875	$ 180,500
Fair value of unfunded commitment liability	1,772	2,033
Better Place Forests Co. [Member]
Unfunded commitments, principal balance	1,000	0
Fair value of unfunded commitment liability	0	0
BrightInsight, Inc. [Member]
Unfunded commitments, principal balance	10,000	15,500
Fair value of unfunded commitment liability	132	241
Britecore Holdings, Inc. [Member]
Unfunded commitments, principal balance	2,500	5,000
Fair value of unfunded commitment liability	36	72
Candesant Biomedical Corporation [Member]
Unfunded commitments, principal balance	10,000	10,000
Fair value of unfunded commitment liability	151	151
Ceribell, Inc. [Member]
Unfunded commitments, principal balance	21,000	0
Fair value of unfunded commitment liability	120	0
Divergent Technologies, Inc. [Member]
Unfunded commitments, principal balance	0	11,250
Fair value of unfunded commitment liability	0	118
Elligo Healthcare Research, Inc. [Member]
Unfunded commitments, principal balance	7,500	15,000
Fair value of unfunded commitment liability	97	194
Fictiv, Inc. [Member]
Unfunded commitments, principal balance	30,000	0
Fair value of unfunded commitment liability	236	0
GT Medical Technologies, Inc. [Member]
Unfunded commitments, principal balance	20,000	0
Fair value of unfunded commitment liability	100	0
Hometeam Technologies, Inc [Member]
Unfunded commitments, principal balance	10,000	0
Fair value of unfunded commitment liability	100	0
MicroTransponder, Inc. [Member]
Unfunded commitments, principal balance	22,500	22,500
Fair value of unfunded commitment liability	0	0
Mirantis, Inc [Member]
Unfunded commitments, principal balance	0	15,000
Fair value of unfunded commitment liability	0	136
Optoro, Inc. [Member]
Unfunded commitments, principal balance	0	6,250
Fair value of unfunded commitment liability	0	0
Parse Biosciences, Inc. [Member]
Unfunded commitments, principal balance	15,000	15,000
Fair value of unfunded commitment liability	252	251
Pivot Bio, Inc. [Member]
Unfunded commitments, principal balance	20,000	0
Fair value of unfunded commitment liability	209	0
SafelyYou, Inc [Member]
Unfunded commitments, principal balance	10,000	20,000
Fair value of unfunded commitment liability	147	270
Sonex Health, Inc. [Member]
Unfunded commitments, principal balance	0	15,000
Fair value of unfunded commitment liability	0	176
Standvast Holdings, LLC [Member]
Unfunded commitments, principal balance	5,000	0
Fair value of unfunded commitment liability	175	0
Supply Network Visibility Holdings, LLC [Member]
Unfunded commitments, principal balance	5,000	10,000
Fair value of unfunded commitment liability	17	35
Swift Health Systems Inc. [Member]
Unfunded commitments, principal balance	375	0
Fair value of unfunded commitment liability	0	0
Tallac Therapeutics, Inc [Member]
Unfunded commitments, principal balance	0	10,000
Fair value of unfunded commitment liability	0	229
Viken Detection Corporation [Member]
Unfunded commitments, principal balance	0	10,000
Fair value of unfunded commitment liability	$ 0	$ 160

Consolidated Schedule of Investments (Unaudited) (Tables)

9 Months Ended

Sep. 30, 2024

Investment [Table Text Block]

Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Cash Rate (4)*			*Index*	*Margin*			*Floor*			*Ceiling*			*ETP (10)*			*Maturity Date*	*Principal Amount*		*Cost of Investments (6)(9)*		*Fair Value (9)*
Non-Affiliate Investments — 191.6% (8)
Non-Affiliate Debt Investments — 182.9% (8)
Non-Affiliate Debt Investments — Life Science — 76.0% (8)
Castle Creek Biosciences, Inc. (2)(12)	Biotechnology	Term Loan		13.25	%	Prime		4.75	%		9.55	%		13.50	%		5.50	%	May 1, 2026	$	3,958	$	3,948	$	3,948
		Term Loan		13.25	%	Prime		4.75	%		9.55	%		13.50	%		5.50	%	May 1, 2026		3,958		3,948		3,948
		Term Loan		13.25	%	Prime		4.75	%		9.55	%		13.50	%		5.50	%	May 1, 2026		2,375		2,368		2,368
		Term Loan		13.25	%	Prime		4.75	%		9.55	%		13.50	%		5.50	%	May 1, 2026		3,958		3,948		3,948
		Term Loan		13.25	%	Prime		4.75	%		9.55	%		13.50	%		5.50	%	May 1, 2026		3,958		3,949		3,949
		Term Loan		13.25	%	Prime		4.75	%		9.55	%		13.50	%		5.50	%	May 1, 2026		2,375		2,369		2,369
Emalex Biosciences, Inc. (2)(12)	Biotechnology	Term Loan		12.72	%	Prime		4.72	%		9.75	%		—			5.00	%	November 1, 2025		5,000		4,970		4,970
		Term Loan		12.72	%	Prime		4.72	%		9.75	%		—			5.00	%	May 1, 2026		5,000		4,975		4,975
Greenlight Biosciences, Inc. (2)(12)	Biotechnology	Term Loan		13.75	%	Prime		5.75	%		9.00	%		—			3.00	%	July 1, 2025		1,667		1,624		1,624
		Term Loan		13.75	%	Prime		5.75	%		9.00	%		—			3.00	%	July 1, 2025		833		812		812
KSQ Therapeutics, Inc. (2)(12)	Biotechnology	Term Loan		12.75	%	Prime		4.75	%		8.50	%		—			5.50	%	May 1, 2027		6,250		6,215		6,215
		Term Loan		12.75	%	Prime		4.75	%		8.50	%		—			5.50	%	May 1, 2027		6,250		6,215		6,215
Native Microbials, Inc (2)(12)	Biotechnology	Term Loan		13.25	%	Prime		5.25	%		8.50	%		—			5.00	%	November 1, 2026		3,250		3,234		3,234
		Term Loan		13.25	%	Prime		5.25	%		8.50	%		—			5.00	%	November 1, 2026		2,167		2,156		2,156
PDS Biotechnology Corporation (2)(5)(12)	Biotechnology	Term Loan		13.75	%	Prime		5.75	%		9.75	%		—			3.75	%	September 1, 2026		10,000		9,950		9,950
		Term Loan		13.75	%	Prime		5.75	%		9.75	%		—			3.75	%	September 1, 2026		3,750		3,731		3,731
		Term Loan		13.75	%	Prime		5.75	%		9.75	%		—			3.75	%	September 1, 2026		3,750		3,731		3,731
Provivi, Inc. (2)(12)	Biotechnology	Term Loan		13.36	%	Prime		5.36	%		9.50	%		—			4.30	%	January 1, 2027		3,482		3,410		3,218
		Term Loan		13.36	%	Prime		5.36	%		9.50	%		—			4.30	%	January 1, 2027		3,482		3,410		3,218
		Term Loan		13.36	%	Prime		5.36	%		9.50	%		—			4.31	%	January 1, 2027		1,741		1,701		1,605
		Term Loan		13.36	%	Prime		5.36	%		9.50	%		—			4.31	%	January 1, 2027		1,741		1,701		1,605
		Term Loan		13.36	%	Prime		5.36	%		9.50	%		—			4.31	%	January 1, 2027		1,741		1,699		1,604
		Term Loan		13.36	%	Prime		5.36	%		9.50	%		—			4.31	%	January 1, 2027		1,741		1,699		1,604
Stealth Biotherapeutics Inc. (2)(12)	Biotechnology	Term Loan		13.50	%	Prime		5.50	%		8.75	%		—			6.00	%	October 1, 2025		2,631		2,598		2,598
		Term Loan		13.50	%	Prime		5.50	%		8.75	%		—			6.00	%	October 1, 2025		1,315		1,299		1,299
Tallac Therapeutics, Inc. (2)(12)	Biotechnology	Term Loan		12.25	%	Prime		4.25	%		12.25	%		—			4.00	%	August 1, 2027		2,500		2,468		2,468
		Term Loan		12.25	%	Prime		4.25	%		12.25	%		—			4.00	%	August 1, 2027		2,500		2,468		2,468
Aerobiotix, LLC (2)(12)	Medical Device	Term Loan		9.00	%	Fixed		—			—			—			18.00	%	April 1, 2028		2,500		2,477		2,205
		Term Loan		9.00	%	Fixed		—			—			—			18.00	%	April 1, 2028		2,500		2,477		2,205
		Term Loan		9.00	%	Fixed		—			—			—			18.00	%	April 1, 2028		200		188		168

Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Cash Rate (4)*			*Index*	*Margin*			*Floor*			*Ceiling*		*ETP (10)*			*Maturity Date*	*Principal Amount*		*Cost of Investments (6)(9)*		*Fair Value (9)*
Candesant Biomedical, Inc. (2)(12)	Medical Device	Term Loan		11.50	%	Prime		3.50	%		11.50	%		—		5.00	%	September 1, 2027		5,000		4,777		4,777
		Term Loan		11.50	%	Prime		3.50	%		11.50	%		—		5.00	%	September 1, 2027		2,500		2,464		2,464
		Term Loan		11.50	%	Prime		3.50	%		11.50	%		—		5.00	%	September 1, 2027		2,500		2,464		2,464
Ceribell, Inc. (2)(12)	Medical Device	Term Loan		10.75	%	Prime		2.75	%		9.25	%		—		4.00	%	March 1, 2029		5,000		4,817		4,817
		Term Loan		10.75	%	Prime		2.75	%		9.25	%		—		4.00	%	March 1, 2029		5,000		4,938		4,938
		Term Loan		10.75	%	Prime		2.75	%		9.25	%		—		4.00	%	March 1, 2029		4,000		3,950		3,950
Cognoa, Inc. (2)(12)	Medical Device	Term Loan		13.50	%	Prime		5.50	%		8.75	%		—		6.00	%	August 1, 2026		3,611		3,584		3,356
		Term Loan		13.50	%	Prime		5.50	%		8.75	%		—		6.00	%	August 1, 2026		1,806		1,792		1,678
Conventus Orthopaedics, Inc. (2)(12)	Medical Device	Term Loan		12.82	%	Prime		4.82	%		9.25	%		—		10.36	%	July 1, 2025		3,477		3,448		3,448
		Term Loan		12.82	%	Prime		4.82	%		9.25	%		—		10.36	%	July 1, 2025		3,477		3,448		3,448
Infobionic, Inc. (2)(12)	Medical Device	Term Loan		13.00	%	Prime		4.50	%		12.00	%		—		2.00	%	September 1, 2029		5,000		4,916		4,916
		Term Loan		13.00	%	Prime		4.50	%		12.00	%		—		2.00	%	September 1, 2029		5,000		4,916		4,916
		Term Loan		13.00	%	Prime		4.50	%		12.00	%		—		2.00	%	September 1, 2029		5,000		4,916		4,916
MicroTransponder, Inc. (2)(12)	Medical Device	Term Loan		12.25	%	Prime		3.75	%		12.25	%		—		3.50	%	January 1, 2029		3,750		3,696		3,696
		Term Loan		12.25	%	Prime		3.75	%		12.25	%		—		3.50	%	January 1, 2029		3,750		3,696		3,696
Scientia Vascular, Inc. (2)(12)	Medical Device	Term Loan		13.25	%	Prime		4.75	%		8.50	%		—		5.00	%	January 1, 2027		3,750		3,734		3,734
		Term Loan		13.25	%	Prime		4.75	%		8.50	%		—		5.00	%	January 1, 2027		3,750		3,733		3,733
		Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		5.00	%	January 1, 2027		5,000		4,959		4,959
		Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		5.00	%	January 1, 2027		5,000		4,927		4,927
Sonex Health, Inc. (2)(12)	Medical Device	Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		8.00	%	September 1, 2027		2,500		2,479		2,479
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		8.00	%	September 1, 2027		2,500		2,479		2,479
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		8.00	%	September 1, 2027		5,000		4,957		4,957
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		8.00	%	September 1, 2027		5,000		4,957		4,957
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		8.00	%	April 1, 2028		3,750		3,711		3,711
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		8.00	%	April 1, 2028		3,750		3,711		3,711
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		8.00	%	April 1, 2028		3,750		3,711		3,711
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		8.00	%	April 1, 2028		3,750		3,711		3,711
Spineology, Inc. (2)(12)	Medical Device	Term Loan		13.00	%	Prime		5.00	%		12.00	%		—		1.00	%	August 1, 2029		5,000		4,911		4,911
		Term Loan		13.00	%	Prime		5.00	%		12.00	%		—		1.00	%	August 1, 2029		4,250		4,174		4,174
		Term Loan		13.00	%	Prime		5.00	%		12.00	%		—		1.00	%	August 1, 2029		4,250		4,174		4,174
		Term Loan		13.00	%	Prime		5.00	%		12.00	%		—		1.00	%	August 1, 2029		2,500		2,455		2,455
Swift Health Systems Inc. (2)(12)(14)	Medical Device	Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		5.00	%	July 1, 2027		3,500		3,510		3,509
		Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		5.00	%	July 1, 2027		3,500		3,475		3,474
		Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		5.00	%	July 1, 2027		3,500		3,469		3,468
		Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		5.00	%	July 1, 2027		3,500		3,469		3,468

Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Cash Rate (4)*			*Index*	*Margin*			*Floor*			*Ceiling*		*ETP (10)*			*Maturity Date*	*Principal Amount*		*Cost of Investments (6)(9)*		*Fair Value (9)*
		Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		100.00	%	July 1, 2027		300		300		300
		Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		100.00	%	July 1, 2027		150		150		150
		Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		—		July 1, 2027		200		200		200
		Term Loan		13.25	%	Prime		5.25	%		9.00	%		—		—		July 1, 2027		350		350		350
Vero Biotech, Inc. (2)(12)	Medical Device	Term Loan		12.25	%	Prime		3.75	%		12.25	%		—		4.00	%	January 1, 2029		15,000		14,719		14,117
		Term Loan		12.25	%	Prime		3.75	%		12.25	%		—		4.00	%	January 1, 2029		10,000		9,813		9,411
		Term Loan		12.25	%	Prime		3.75	%		12.25	%		—		4.00	%	January 1, 2029		5,000		4,907		4,706
		Term Loan		12.25	%	Prime		3.75	%		12.25	%		—		4.00	%	January 1, 2029		2,500		2,453		2,353
Total Non-Affiliate Debt Investments — Life Science																						263,158		260,177
Non-Affiliate Debt Investments — Sustainability — 19.8% (8)
Pivot Bio, Inc.(2)(12)	Energy Efficiency	Term Loan		12.00	%	Prime		4.00	%		12.00	%		—		4.00	%	February 1, 2029		5,000		4,739		4,739
		Term Loan		12.00	%	Prime		4.00	%		12.00	%		—		4.00	%	February 1, 2029		5,000		4,948		4,948
New Aerofarms, Inc. assignee of Aerofarms, Inc. (2)(12)(15)	Other Sustainability	Term Loan		14.75	%	Prime		6.75	%		10.00	%		—		4.33	%	December 1, 2026		3,750		3,712		3,712
		Term Loan		14.75	%	Prime		6.75	%		10.00	%		—		4.33	%	December 1, 2026		3,750		3,712		3,712
Soli Organic, Inc. (2)(12)	Other Sustainability	Term Loan		14.75	%	Prime		6.75	%		10.00	%		—		2.75	%	April 1, 2026		5,000		4,937		4,937
		Term Loan		14.75	%	Prime		6.75	%		10.00	%		—		2.75	%	April 1, 2026		2,500		2,469		2,469
		Term Loan		14.75	%	Prime		6.75	%		10.00	%		—		2.75	%	May 1, 2026		5,000		4,938		4,938
		Term Loan		14.75	%	Prime		6.75	%		10.00	%		—		2.75	%	May 1, 2026		2,500		2,469		2,469
		Term Loan		13.50	%	Prime		5.50	%		11.75	%		—		2.75	%	December 1, 2026		5,000		4,946		4,946
		Term Loan		13.50	%	Prime		5.50	%		11.75	%		—		2.75	%	December 1, 2026		2,500		2,473		2,473
Temperpack Technologies, Inc. (2)(12)	Other Sustainability	Term Loan		14.75	%	Prime		6.75	%		10.00	%		—		2.50	%	April 1, 2028		3,750		3,703		3,703
		Term Loan		14.75	%	Prime		6.75	%		10.00	%		—		2.50	%	April 1, 2028		3,750		3,703		3,703
		Term Loan		14.75	%	Prime		6.75	%		10.00	%		—		2.50	%	April 1, 2028		7,500		7,400		7,400
		Term Loan		14.75	%	Prime		6.75	%		10.00	%		—		2.50	%	April 1, 2028		3,750		3,700		3,700
		Term Loan		14.75	%	Prime		6.75	%		10.00	%		—		2.50	%	April 1, 2028		3,750		3,700		3,700
		Term Loan		14.00	%	Prime		6.00	%		10.00	%		—		2.00	%	January 1, 2029		4,500		4,452		4,452
		Term Loan		14.00	%	Prime		6.00	%		10.00	%		—		2.00	%	January 1, 2029		2,000		1,979		1,979
Total Non-Affiliate Debt Investments — Sustainability																						67,980		67,980
Non-Affiliate Debt Investments — Technology — 56.7% (8)
Axiom Space, Inc. (2)(12)	Communications	Term Loan		14.50	%	Prime		6.00	%		9.25	%		—		2.50	%	June 1, 2026		4,375		4,354		4,354
		Term Loan		14.50	%	Prime		6.00	%		9.25	%		—		2.50	%	June 1, 2026		4,375		4,353		4,353
		Term Loan		14.50	%	Prime		6.00	%		9.25	%		—		2.50	%	June 1, 2026		4,375		4,353		4,353
CAMP NYC, Inc. (2)(12)	Consumer-related Technologies	Term Loan		15.25	%	Prime		7.25	%		10.50	%		—		3.00	%	March 1, 2027		2,033		1,980		1,922

Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Cash Rate (4)*			*Index*	*Margin*			*Floor*			*Ceiling*		*ETP (10)*			*Maturity Date*	*Principal Amount*		*Cost of Investments (6)(9)*		*Fair Value (9)*
Clara Foods Co. (2)(12)	Consumer-related Technologies	Term Loan		14.25	%	Prime		5.75	%		9.00	%		—		5.50	%	August 1, 2025		833		828		828
		Term Loan		14.25	%	Prime		5.75	%		9.00	%		—		5.50	%	August 1, 2025		833		828		828
Havenly, Inc. (2)(12)	Consumer-related Technologies	Term Loan		13.00	%	Prime		5.00	%		5.00	%		—		10.40	%	March 1, 2027		2,000		1,467		1,467
		Term Loan		13.00	%	Prime		5.00	%		5.00	%		—		10.40	%	March 1, 2027		3,000		2,441		2,441
		Term Loan		11.50	%	Prime		3.50	%		10.50	%		—		7.78	%	February 1, 2028		2,813		2,813		2,813
		Term Loan		11.50	%	Prime		3.50	%		10.50	%		—		7.78	%	February 1, 2028		2,813		2,813		2,813
Lyrical Foods, Inc. (2)(12)	Consumer-related Technologies	Term Loan		11.50	% (11)	Prime		3.50	%		9.00	%		—		5.00	%	July 1, 2028		2,603		2,692		2,341
NextCar Holding Company, Inc. (2)(12)(13)	Consumer-related Technologies	Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—		5.25	%	October 31, 2023		5,908		5,489		3,256
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—		5.25	%	October 31, 2023		2,363		2,196		1,303
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—		5.25	%	October 31, 2023		2,954		2,745		1,628
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—		5.25	%	October 31, 2023		3,545		3,294		1,953
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—		5.25	%	October 31, 2023		2,954		2,745		1,628
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—		5.25	%	October 31, 2023		2,954		2,745		1,628
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—		5.25	%	October 31, 2023		5,908		5,489		3,255
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—		5.25	%	October 31, 2023		2,954		2,745		1,628
Optoro, Inc. (2)(12)	Consumer-related Technologies	Term Loan		14.75	%	Prime		6.25	%		9.50	%		—		4.00	%	August 1, 2027		2,500		2,440		2,440
		Term Loan		14.75	%	Prime		6.25	%		9.50	%		—		4.00	%	July 1, 2028		1,875		1,800		1,800
Standvast Holdings, LLC (2)(12)	Consumer-related Technologies	Term Loan		12.75	%	Prime		4.25	%		12.75	%		—		3.00	%	June 1, 2028		2,500		2,245		2,245
		Term Loan		12.75	%	Prime		4.25	%		12.75	%		—		3.00	%	June 1, 2028		2,500		2,421		2,421
Unagi, Inc. (2)(12)(13)	Consumer-related Technologies	Term Loan		15.75	% (11)	Prime		7.75	%		11.00	%		—		—		May 1, 2027		1,361		1,086		228
		Term Loan		15.75	% (11)	Prime		7.75	%		11.00	%		—		—		May 1, 2027		680		543		114
		Term Loan		15.75	% (11)	Prime		7.75	%		11.00	%		—		—		May 1, 2027		680		543		114
Fictiv, Inc. (2)(12)	Networking	Term Loan		11.25	%	Prime		3.25	%		10.00	%		—		4.00	%	April 1, 2029		5,000		4,703		4,703
		Term Loan		11.25	%	Prime		3.25	%		10.00	%		—		4.00	%	April 1, 2029		5,000		4,938		4,938
BriteCore Holdings, Inc. (2)(12)	Software	Term Loan		14.00	%	Prime		5.50	%		14.00	%		—		3.00	%	October 1, 2028		5,000		4,905		4,905
		Term Loan		14.00	%	Prime		5.50	%		14.00	%		—		3.00	%	October 1, 2028		2,500		2,471		2,471
		Term Loan		14.00	%	Prime		5.50	%		14.00	%		—		3.00	%	October 1, 2028		2,500		2,471		2,471
		Term Loan		14.00	%	Prime		5.50	%		14.00	%		—		3.00	%	October 1, 2028		2,500		2,471		2,471
		Term Loan		14.00	%	Prime		5.50	%		14.00	%		—		3.00	%	April 1, 2029		2,500		2,467		2,467
Dropoff, Inc. (2)(12)	Software	Term Loan		14.50	%	Prime		6.50	%		9.75	%		—		3.50	%	June 1, 2026		6,804		6,729		6,337
		Term Loan		14.50	%	Prime		6.50	%		9.75	%		—		3.50	%	June 1, 2026		6,280		6,211		5,849
		Term Loan		14.50	%	Prime		6.50	%		9.75	%		—		3.50	%	June 1, 2026		2,617		2,590		2,439

Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Cash Rate (4)*			*Index*	*Margin*			*Floor*			*Ceiling*		*ETP (10)*			*Maturity Date*	*Principal Amount*		*Cost of Investments (6)(9)*		*Fair Value (9)*
Kodiak Robotics, Inc. (2)(12)	Software	Term Loan		13.50	%	Prime		5.50	%		10.25	%		—		4.00	%	April 1, 2026		10,000		9,946		9,946
		Term Loan		13.50	%	Prime		5.50	%		10.25	%		—		4.00	%	April 1, 2026		10,000		9,946		9,946
		Term Loan		13.50	%	Prime		5.50	%		10.25	%		—		4.00	%	April 1, 2026		5,000		4,973		4,973
		Term Loan		13.50	%	Prime		5.50	%		10.25	%		—		4.00	%	April 1, 2026		5,000		4,973		4,973
Lytics, Inc. (2)(12)	Software	Term Loan		14.50	%	Prime		6.00	%		14.25	%		—		5.00	%	November 1, 2026		2,500		2,479		2,479
		Term Loan		14.50	%	Prime		6.00	%		14.25	%		—		5.00	%	December 1, 2026		1,250		1,242		1,242
		Term Loan		14.50	%	Prime		6.00	%		14.25	%		—		5.00	%	April 1, 2027		1,000		996		996
Mirantis, Inc. (2)(12)	Software	Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2028		5,000		4,929		4,929
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2028		5,000		4,929		4,929
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2028		5,000		4,929		4,929
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2028		5,000		4,929		4,929
Noodle Partners, Inc. (2)(12)	Software	Term Loan		13.00	%	Prime		5.00	%		12.00	%		—		3.00	%	March 1, 2027		10,000		9,916		9,916
		Term Loan		13.00	%	Prime		5.00	%		12.00	%		—		3.00	%	March 1, 2027		5,000		4,958		4,958
		Term Loan		13.00	%	Prime		5.00	%		12.00	%		—		3.00	%	March 1, 2027		5,000		4,958		4,958
Reputation Institute, Inc. (2)(12)	Software	Term Loan		15.75	%	Prime		7.25	%		10.50	%		—		3.00	%	August 1, 2025		1,933		1,901		1,901
Supply Network Visibility Holdings LLC (2)(12)	Software	Term Loan		12.25	%	Prime		4.25	%		12.00	%		—		2.50	%	June 1, 2028		2,500		2,476		2,476
		Term Loan		12.25	%	Prime		4.25	%		12.00	%		—		2.50	%	June 1, 2028		3,500		3,491		3,491
		Term Loan		12.25	%	Prime		4.25	%		12.00	%		—		2.50	%	June 1, 2028		2,500		2,493		2,493
		Term Loan		12.25	%	Prime		4.25	%		12.00	%		—		2.50	%	June 1, 2028		1,500		1,496		1,496
		Term Loan		12.25	%	Prime		4.25	%		12.00	%		—		2.50	%	July 1, 2029		5,000		4,983		4,983
Viken Detection Corporation (2)(12)	Software	Term Loan		12.00	%	Prime		4.00	%		11.75	%		—		3.50	%	June 1, 2027		5,000		4,951		4,951
		Term Loan		12.00	%	Prime		4.00	%		11.75	%		—		3.50	%	June 1, 2027		2,500		2,476		2,476
		Term Loan		12.00	%	Prime		4.00	%		11.75	%		—		3.50	%	June 1, 2027		2,500		2,476		2,476
Total Non-Affiliate Debt Investments — Technology																						208,250		194,051
Non-Affiliate Debt Investments — Healthcare information and services — 30.4% (8)
Hound Labs Inc. (12)(13)	Diagnostics	Term Loan		14.00	%	Prime		6.00	%		9.25	%		—		3.50	%	June 1, 2026		1,607		1,577		1,034
		Term Loan		14.00	%	Prime		6.00	%		9.25	%		—		3.50	%	June 1, 2026		1,607		1,577		1,034
		Term Loan		14.00	%	Prime		6.00	%		9.25	%		—		3.50	%	June 1, 2026		3,214		3,151		2,068
		Term Loan		14.00	%	Fixed		—			—			—		50.00	%	March 1, 2025		300		300		197
		Term Loan		14.00	%	Fixed		—			—			—		100.00	%	March 1, 2025		250		250		164
Parse Biosciences, Inc. (2)(12)	Diagnostics	Term Loan		11.75	%	Prime		3.25	%		11.50	%		—		5.00	%	January 1, 2028		5,000		4,652		4,652
		Term Loan		11.75	%	Prime		3.25	%		11.50	%		—		5.00	%	January 1, 2028		5,000		4,903		4,903

Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Cash Rate (4)*			*Index*	*Margin*			*Floor*			*Ceiling*		*ETP (10)*			*Maturity Date*	*Principal Amount*		*Cost of Investments (6)(9)*		*Fair Value (9)*
BrightInsight, Inc. (2)(12)	Software	Term Loan		14.00	%	Prime		5.50	%		9.50	%		—		3.00	%	August 1, 2027		7,000		6,814		6,814
		Term Loan		14.00	%	Prime		5.50	%		9.50	%		—		3.00	%	August 1, 2027		3,500		3,473		3,473
		Term Loan		14.00	%	Prime		5.50	%		9.50	%		—		3.00	%	August 1, 2027		3,500		3,473		3,473
		Term Loan		14.00	%	Prime		5.50	%		9.50	%		—		3.00	%	April 1, 2028		2,750		2,717		2,717
Elligo Health Research, Inc. (2)(12)	Software	Term Loan		11.75	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2027		10,000		9,783		9,783
		Term Loan		11.75	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2027		5,000		4,940		4,940
		Term Loan		11.75	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2027		5,000		4,940		4,940
		Term Loan		11.75	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2027		5,000		4,940		4,940
SafelyYou, Inc. (2)(12)	Software	Term Loan		11.25	%	Prime		3.25	%		11.00	%		—		5.00	%	June 1, 2027		5,000		4,791		4,791
		Term Loan		11.25	%	Prime		3.25	%		11.00	%		—		5.00	%	June 1, 2027		5,000		4,938		4,938
GT Medical Technologies, Inc. (2)(12)	Other Healthcare Services	Term Loan		11.25	%	Prime		3.25	%		11.25	%		—		4.00	%	October 1, 2029		3,750		3,592		3,592
		Term Loan		11.25	%	Prime		3.25	%		11.25	%		—		4.00	%	October 1, 2029		3,750		3,692		3,692
		Term Loan		11.25	%	Prime		3.25	%		11.25	%		—		4.00	%	October 1, 2029		7,500		7,384		7,384
Hometeam Technologies, Inc. (2)(12)	Other Healthcare Services	Term Loan		11.25	%	Prime		3.25	%		11.25	%		—		3.50	%	August 1, 2029		5,000		4,851		4,851
		Term Loan		11.25	%	Prime		3.25	%		11.25	%		—		3.50	%	August 1, 2029		5,000		4,951		4,951
		Term Loan		11.25	%	Prime		3.25	%		11.25	%		—		3.50	%	August 1, 2029		5,000		4,951		4,951
		Term Loan		11.25	%	Prime		3.25	%		11.25	%		—		3.50	%	August 1, 2029		5,000		4,951		4,951
		Term Loan		11.25	%	Prime		3.25	%		11.25	%		—		3.50	%	August 1, 2029		5,000		4,951		4,951
Total Non-Affiliate Debt Investments — Healthcare information and services																					$	106,542	$	104,184
*Total Non- Affiliate Debt Investments*																					$	645,930	$	626,392

					*Cost of*		*Fair*
Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Number of Shares*		*Investments (6)(9)*		*Value (9)*
Non-Affiliate Warrant Investments — 5.5% (8)
Non-Affiliate Warrants — Life Science — 1.5% (8)
Avalo Therapeutics, Inc. (2)(5)(12)	Biotechnology	Common Stock Warrant		117	$	311	$	—
Castle Creek Biosciences, Inc. (2)(12)	Biotechnology	Preferred Stock Warrant		7,404		214		169
Emalex Biosciences, Inc. (2)(12)	Biotechnology	Preferred Stock Warrant		110,402		176		127
Imunon, Inc. (2)(5)(12)	Biotechnology	Common Stock Warrant		19,671		64		—
KSQ Therapeutics, Inc. (2)(12)	Biotechnology	Preferred Stock Warrant		48,076		49		53
Mustang Bio, Inc. (2)(5)(12)	Biotechnology	Common Stock Warrant		16,611		146		—
Native Microbials, Inc (2)(12)	Biotechnology	Preferred Stock Warrant		103,679		64		58
PDS Biotechnology Corporation (2)(5)(12)	Biotechnology	Common Stock Warrant		299,848		160		316
Provivi, Inc. (2)(12)	Biotechnology	Common Stock Warrant		175,098		278		—
Provivi, Inc. (2)(12)	Biotechnology	Preferred Stock Warrant		709,981		312		222
Stealth Biotherapeutics Inc. (2)(12)	Biotechnology	Common Stock Warrant		318,181		265		110
Tallac Therapeutics, Inc. (2)(12)	Biotechnology	Preferred Stock Warrant		1,600,002		195		167
Xeris Pharmaceuticals, Inc. (2)(5)(12)	Biotechnology	Common Stock Warrant		126,000		73		64
AccuVein Inc. (2)(12)	Medical Device	Common Stock Warrant		271		7		—
Aerin Medical, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		1,818,183		66		1,048
Aerobiotix, LLC (2)(12)	Medical Device	Preferred Stock Warrant		8,800		48		9
Canary Medical Inc. (2)(12)	Medical Device	Preferred Stock Warrant		12,153		87		171
Candesant Biomedical, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		93,336		152		131
Ceribell, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		231,050		147		192
Cognoa, Inc. (2)(12)	Medical Device	Common Stock Warrant		30,585		—		—
Cognoa, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		4,635,992		162		13
Conventus Orthopaedics, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		9,313,541		256		197
CSA Medical, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		4,917,794		174		471
CVRx, Inc. (2)(5)(12)	Medical Device	Common Stock Warrant		47,410		76		50
Infobionic, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		5,361,130		231		169

					*Cost of*		*Fair*
Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Number of Shares*		*Investments (6)(9)*		*Value (9)*
Magnolia Medical Technologies, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		809,931		194		304
Meditrina, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		233,993		83		29
MicroTransponder, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		103,172		48		48
Scientia Vascular, Inc (2)(12)	Medical Device	Preferred Stock Warrant		34,410		103		273
Sonex Health, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		2,637,133		275		262
VERO Biotech LLC (2)(12)	Medical Device	Preferred Stock Warrant		4,109		432		196
Spineology, Inc. (2)(12)	Medical Device	Common Stock Warrant		2,714,033		143		108
Spineology, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		2,255,155		16		27
Swift Health Systems Inc. (2)(12)	Medical Device	Preferred Stock Warrant		135,484		71		—
Total Non-Affiliate Warrants — Life Science						5,078		4,984
Non-Affiliate Warrants — Sustainability — 0.2% (8)
New Aerofarms, Inc. assignee of Aerofarms, Inc. (2)(12)(15)	Other Sustainability	Preferred Stock Warrant		400,000		82		69
LiquiGlide, Inc. (2)(12)	Other Sustainability	Preferred Stock Warrant		61,359		40		25
Soli Organic, Inc. (2)(12)	Other Sustainability	Common Stock Warrant		65		20		19
Soli Organic, Inc. (2)(12)	Other Sustainability	Preferred Stock Warrant		1,103		382		489
Temperpack Technologies, Inc. (2)(12)	Other Sustainability	Preferred Stock Warrant		49,693		178		91
Pivot Bio, Inc. (2)(12)	Energy Efficiency	Preferred Stock Warrant		210,418		14		14
Total Non-Affiliate Warrants — Sustainability						716		707
Non-Affiliate Warrants — Technology — 3.5% (8)
Axiom Space Holdings, Inc. (2)(12)	Communications	Common Stock Warrant		1,991		46		57
Intelepeer Holdings, Inc. (2)(12)	Communications	Preferred Stock Warrant		2,936,535		137		2,100
Alula Holdings, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		20,000		93		7
CAMP NYC, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		112,356		36		39
Clara Foods Co. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		46,745		30		121
Divergent Technologies, Inc. (2)(12)	Consumer-related Technologies	Common Stock Warrant		9,801		79		55
Divergent Technologies, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		53,264		454		622
Havenly, Inc. (2)(12)	Consumer-related Technologies	Common Stock Warrant		1,446,429		3,178		2,489
MyForest Foods Co. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		250		28		24
NextCar Holding Company, Inc. (2)(12)	Consumer-related Technologies	Common Stock Warrant		12,618		188		—
NextCar Holding Company, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		3,913,723		9		—
Optoro, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		11,550		181		144
Primary Kids, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		553,778		57		587
Quip NYC Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		6,191		325		—
Standvast Holdings, LLC (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		1,225,492		275		258
Unagi, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		171,081		29		—
Updater, Inc.(2)(12)	Consumer-related Technologies	Preferred Stock Warrant		108,333		34		26
CPG Beyond, Inc. (2)(12)	Data Storage	Preferred Stock Warrant		500,000		242		290
Silk, Inc. (2)(12)	Data Storage	Preferred Stock Warrant		394,110		175		119
Global Worldwide LLC (2)(12)	Internet and Media	Preferred Stock Warrant		245,810		75		—
Rocket Lawyer Incorporated (2)(12)	Internet and Media	Preferred Stock Warrant		261,721		92		313
Skillshare, Inc. (2)(12)	Internet and Media	Preferred Stock Warrant		139,074		162		671
Liqid, Inc. (2)(12)	Networking	Preferred Stock Warrant		344,102		364		103
Fictiv, Inc. (2)(12)	Networking	Common Stock Warrant		126,841		59		74
Halio, Inc. (2)(12)	Power Management	Common Stock Warrant		38,241,466		1,585		2,700
Avalanche Technology, Inc. (2)(12)	Semiconductors	Preferred Stock Warrant		5,938		45		—
BriteCore Holdings, Inc. (2)(12)	Software	Preferred Stock Warrant		161,215		98		254
Dropoff, Inc. (2)(12)	Software	Common Stock Warrant		516,732		455		90
E La Carte, Inc. (2)(5)(12)	Software	Common Stock Warrant		147,361		60		—
Everstream Holdings, LLC (2)(12)	Software	Preferred Stock Warrant		350,000		70		21
Kodiak Robotics, Inc. (2)(12)	Software	Preferred Stock Warrant		639,918		273		9
Lemongrass Holdings, Inc. (2)(12)	Software	Preferred Stock Warrant		101,308		34		83
Lotame Solutions, Inc. (2)(12)	Software	Preferred Stock Warrant		71,305		18		40
Lytics, Inc. (2)(12)	Software	Preferred Stock Warrant		85,543		43		—
Mirantis, Inc. (2)(12)	Software	Common Stock Warrant		948,275		223		240

					*Cost of*		*Fair*
Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Number of Shares*		*Investments (6)(9)*		*Value (9)*
Noodle Partners, Inc. (2)(12)	Software	Preferred Stock Warrant		84,037		116		—
Reputation Institute, Inc. (2)(12)	Software	Preferred Stock Warrant		4,104		63		33
Revinate Holdings, Inc. (2)(12)	Software	Preferred Stock Warrant		682,034		44		90
SIGNiX, Inc. (12)	Software	Preferred Stock Warrant		186,235		225		—
Slingshot Aerospace, Inc. (2)(12)	Software	Preferred Stock Warrant		309,208		123		79
Supply Network Visibility Holdings LLC (2)(12)	Software	Preferred Stock Warrant		682		65		75
Topia Mobility, Inc. (2)(12)	Software	Preferred Stock Warrant		3,049,607		137		—
Viken Detection Corporation (2)(12)	Software	Preferred Stock Warrant		345,443		120		203
xAd, Inc. (2)(12)	Software	Preferred Stock Warrant		4,343,348		176		7
Total Non-Affiliate Warrants — Technology						10,321		12,023
Non-Affiliate Warrants — Healthcare information and services — 0.3% (8)
Hound Labs, Inc (12)	Diagnostics	Preferred Stock Warrant		451,796		45		—
Parse Biosciences, Inc. (2)(12)	Diagnostics	Common Stock Warrant		32,244		71		15
Parse Biosciences, Inc. (2)(12)	Diagnostics	Preferred Stock Warrant		184,253		166		47
Kate Farms, Inc. (2)(12)	Other Healthcare	Preferred Stock Warrant		82,965		103		777
GT Medical Technologies, Inc. (2)(12)	Other Healthcare	Preferred Stock Warrant		255,871		85		86
BrightInsight, Inc. (2)(12)	Software	Preferred Stock Warrant		85,066		167		—
Elligo Health Research, Inc. (2)(12)	Software	Preferred Stock Warrant		652,250		191		85
Medsphere Systems Corporation (2)(12)	Software	Preferred Stock Warrant		7,097,792		61		—
SafelyYou, Inc. (2)(12)	Software	Preferred Stock Warrant		150,353		163		11
*Total Non-Affiliate Warrants — Healthcare information and services*						1,052		1,021
*Total Non-Affiliate Warrants*						17,167		18,735
Non-Affiliate Other Investments — Life Science — 1.5% (8)
Lumithera, Inc. (12)	Medical Device	Royalty Agreement				1,147		100
Robin Healthcare, Inc. (2)(12)	Medical Device	Royalty Agreement				7,271		3,247
ZetrOZ, Inc. (12)	Medical Device	Royalty Agreement				—		—
*Total Non-Affiliate Other Investments*						8,418		3,347
Non-Affiliate Equity — 2.2% (8)
Cadrenal Therapeutics, Inc. (5)	Biotechnology	Common Stock		600,000		—		546
Castle Creek Biosciences, Inc. (12)	Biotechnology	Common Stock		1,162		250		250
Emalex Biosciences, Inc. (12)	Biotechnology	Common Stock		32,831		356		356
Axiom Space, Inc. (12)	Communications	Preferred Stock		1,810		261		306
PebblePost, Inc. (2)(12)	Communications	Preferred Stock		598,850		73		73
Caastle, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock		242,180		2,681		2,687
Getaround, Inc. (2)(5)	Consumer-related Technologies	Common Stock		87,082		253		5
NextCar Holding Company, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock		2,688,971		89		—
SnagAJob.com, Inc. (12)	Consumer-related Technologies	Common Stock		82,974		7		83
Lumithera, Inc. (12)	Medical Device	Common Stock		392,651		2,000		1,700
Tigo Energy, Inc. (5)	Other Sustainability	Common Stock		5,205		111		11
Decisyon, Inc. (12)	Software	Preferred Stock		280,000		2,800		1,281
Lotame, Inc. (12)	Software	Preferred Stock		66,127		5		190
*Total Non-Affiliate Equity*						8,886		7,488
*Total Non-Affiliate Portfolio Investment Assets*						$680,401		$655,962

Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Cash Rate (4)*			*Index*	*Margin*			*Floor*			*Ceiling*		*ETP (10)*			*Maturity Date*	*Principal Amount*		*Cost of Investments (6)(9)*		*Fair Value (9)*
Non-Controlled Affiliate Investments — 2.4% (8)
Non-Controlled Affiliate Other Investments — 2.4% (8)
Evelo Holdings, Inc. (2)(5)(12)(17)	Biotechnology	Other Investment		12.25	% (11)	Prime		4.25	%		11.00	%		—		4.25	%	January 1, 2028	$	5,770	$	4,910	$	1,825
		Other Investment		12.25	% (11)	Prime		4.25	%		11.00	%		—		4.25	%	January 1, 2028		8,656		7,621		2,832
		Other Investment		12.25	% (11)	Prime		4.25	%		11.00	%		—		4.25	%	January 1, 2028		3,462		2,947		1,095
		Other Investment		12.25	% (11)	Prime		4.25	%		11.00	%		—		4.25	%	January 1, 2028		3,462		2,947		1,095
		Other Investment		12.25	% (11)	Prime		4.25	%		11.00	%		—		4.25	%	January 1, 2028		2,308		1,964		730
		Other Investment		12.25	% (11)	Prime		4.25	%		11.00	%		—		4.25	%	January 1, 2028		2,308		1,964		730
Total Non-Controlled Affiliate Other Investments																						22,353		8,307

					Cost of		Fair
Portfolio Company (1)(3)	Sector	Type of Investment (7)	Number of Shares		Investments (6)(9)		Value (9)
Non-controlled Affiliate Equity — 0.0% (8)
Aulea Medical, Inc. (12)	Medical Device	Common Stock		660,537	$	—	$	—
Evelo Holdings, Inc. (2)(5)(12)	Biotechnology	Common Stock		2,164,502		5,000		—
Total Non-Controlled Affiliate Equity						5,000		—
Non-controlled Affiliate Warrants — 0.0% (8)
Evelo Holdings, Inc. (2)(5)(12)	Biotechnology	Common Stock		23,196		125		—
Total Non-Controlled Affiliate Warrants						125		—
*Total Non-Controlled Affiliate Portfolio Investment Assets*					$	27,478	$	8,307

Portfolio Company (1)(3)	Sector	Type of Investment (7)	Cash Rate (4)			Index	Margin			Floor			Ceiling		ETP (10)			Maturity Date	Principal Amount		Cost of Investments (6)(9)		Fair Value (9)
Controlled Affiliate Investments — 5.7% (8)
Controlled Affiliate Debt Investments — 2.0% (8)
Better Place Forests Co. (12)	Consumer-related Technologies	Term Loan		12.00	% (11)	Prime		3.75	%		12.00	%		—		2.78	%	August 1, 2029	$	3,891	$	3,935	$	3,234
		Term Loan		12.00	% (11)	Prime		3.75	%		12.00	%		—		2.78	%	August 1, 2029		1,946		1,927		1,583
		Term Loan		12.00	% (11)	Prime		3.75	%		12.00	%		—		—		August 1, 2025		521		521		489
		Term Loan		12.00	% (11)	Prime		3.75	%		12.00	%		—		—		August 1, 2025		516		517		484
		Term Loan		12.00	% (11)	Prime		3.75	%		12.00	%		—		—		August 1, 2025		506		507		474
Nexii, Inc. (12)	Other Sustainability	Term Loan		10.00	%	Fixed		—			—			—		—		July 1, 2027		790		790		628
Total Controlled Affiliate Debt Investments																						8,197		6,892

					*Cost of*		*Fair*
Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Number of Shares*		*Investments (6)(9)*		*Value (9)*
Controlled Affiliate Equity — 1.9% (8)
Better Place Forests Co. (12)	Consumer-related Technologies	Common Stock		2,278,272		2,060		—
Better Place Forests Co. (12)	Consumer-related Technologies	Preferred Stock		5,350,142		2,500		—
Nexii, Inc. (2)(12)	Other Sustainability	Common Stock		108,320		3,297		3,309
Nexii, Inc. (2)(12)	Other Sustainability	Preferred Stock		542		3,419		3,240
Total Controlled Affiliate Equity						11,276		6,549
Controlled Affiliate Other Investments — 1.8% (8)
HIMV LLC (12)(16)	Biotechnology	Other Investment				5,880		6,290
Total Controlled Affiliate Other						5,880		6,290
*Total Controlled Affiliate Portfolio Investment Assets*					$	25,353	$	19,731
*Total Portfolio Investment Assets — 199.7% (8)*					$	733,232	$	684,000

Short Term Investments - Unrestricted Investments - 9.1% (8)
US Bank Money Market Deposit Account		31,080		31,080
Total Short Term Investments - Unrestricted Investments	$	31,080	$	31,080

Short Term Investments - Restricted Investments - 1.0% (8)
US Bank Money Market Deposit Account		3,266		3,266
Total Short Term Investments - Restricted Investments	$	3,266	$	3,266

Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Cash Rate (4)*			*Index*	*Margin*			*Floor*			*Ceiling*			*ETP (10)*			*Maturity Date*	*Principal Amount*		*Cost of Investments (6)(9)*		*Fair Value (9)*
Non-Affiliate Investments — 214.2% (8)
Non-Affiliate Debt Investments — 205.0% (8)
Non-Affiliate Debt Investments — Life Science — 75.6% (8)
Castle Creek Biosciences, Inc. (2)(12)	Biotechnology	Term Loan		13.25	%	Prime		4.75	%		9.55	%		13.50	%		5.50	%	May 1, 2026	$	5,000	$	4,979	$	4,979
		Term Loan		13.25	%	Prime		4.75	%		9.55	%		13.50	%		5.50	%	May 1, 2026		5,000		4,979		4,979
		Term Loan		13.25	%	Prime		4.75	%		9.55	%		13.50	%		5.50	%	May 1, 2026		3,000		2,987		2,987
		Term Loan		13.25	%	Prime		4.75	%		9.55	%		13.50	%		5.50	%	May 1, 2026		5,000		4,979		4,979
		Term Loan		13.25	%	Prime		4.75	%		9.55	%		13.50	%		5.50	%	May 1, 2026		5,000		4,979		4,979
		Term Loan		13.25	%	Prime		4.75	%		9.55	%		13.50	%		5.50	%	May 1, 2026		3,000		2,987		2,987
Emalex Biosciences, Inc. (2)(12)	Biotechnology	Term Loan		13.22	%	Prime		4.72	%		9.75	%		—			5.00	%	June 1, 2024		1,414		1,410		1,410
		Term Loan		13.22	%	Prime		4.72	%		9.75	%		—			5.00	%	June 1, 2024		1,414		1,410		1,410
		Term Loan		13.22	%	Prime		4.72	%		9.75	%		—			5.00	%	November 1, 2025		5,000		4,950		4,950
		Term Loan		13.22	%	Prime		4.72	%		9.75	%		—			5.00	%	May 1, 2026		5,000		4,949		4,949
Greenlight Biosciences, Inc. (2)(12)	Biotechnology	Term Loan		14.25	%	Prime		5.75	%		9.00	%		—			3.00	%	July 1, 2025		3,000		2,914		2,870
		Term Loan		14.25	%	Prime		5.75	%		9.00	%		—			3.00	%	July 1, 2025		1,500		1,458		1,436
KSQ Therapeutics, Inc. (2)(12)	Biotechnology	Term Loan		13.25	%	Prime		4.75	%		8.50	%		—			5.50	%	May 1, 2027		6,250		6,199		6,199
		Term Loan		13.25	%	Prime		4.75	%		8.50	%		—			5.50	%	May 1, 2027		6,250		6,199		6,199
Native Microbials, Inc (2)(12)	Biotechnology	Term Loan		13.75	%	Prime		5.25	%		8.50	%		—			5.00	%	November 1, 2026		3,750		3,716		3,716
		Term Loan		13.75	%	Prime		5.25	%		8.50	%		—			5.00	%	November 1, 2026		2,500		2,478		2,478
PDS Biotechnology Corporation (2)(5)(12)	Biotechnology	Term Loan		14.25	%	Prime		5.75	%		9.75	%		—			3.75	%	September 1, 2026		10,000		9,911		9,911
		Term Loan		14.25	%	Prime		5.75	%		9.75	%		—			3.75	%	September 1, 2026		3,750		3,717		3,717
		Term Loan		14.25	%	Prime		5.75	%		9.75	%		—			3.75	%	September 1, 2026		3,750		3,717		3,717
Provivi, Inc. (2)(12)	Biotechnology	Term Loan		13.86	%	Prime		5.36	%		9.50	%		—			5.50	%	December 1, 2024		4,666		4,579		4,414
		Term Loan		13.86	%	Prime		5.36	%		9.50	%		—			5.50	%	December 1, 2024		4,666		4,579		4,414
		Term Loan		13.86	%	Prime		5.36	%		9.50	%		—			5.50	%	December 1, 2024		2,333		2,281		2,199
		Term Loan		13.86	%	Prime		5.36	%		9.50	%		—			5.50	%	December 1, 2024		2,333		2,281		2,199
		Term Loan		13.86	%	Prime		5.36	%		9.50	%		—			5.50	%	December 1, 2024		2,333		2,278		2,196
		Term Loan		13.86	%	Prime		5.36	%		9.50	%		—			5.50	%	December 1, 2024		2,333		2,278		2,196
Stealth Biotherapeutics Inc. (2)(12)	Biotechnology	Term Loan		14.00	%	Prime		5.50	%		8.75	%		—			6.00	%	October 1, 2025		4,250		4,193		4,193
		Term Loan		14.00	%	Prime		5.50	%		8.75	%		—			6.00	%	October 1, 2025				2,096		2,096
Tallac Therapeutics, Inc. (2)(12)	Biotechnology	Term Loan		12.75	%	Prime		4.25	%		12.25	%		—			4.00	%	August 1, 2027		2,500		2,230		2,230
		Term Loan		12.75	%	Prime		4.25	%		12.25	%		—			4.00	%	August 1, 2027		2,500		2,459		2,459
Aerobiotix, LLC (2)(12)	Medical Device	Term Loan		9.00	%	Fixed		—			—			—			18.00	%	April 1, 2028		2,500		2,468		2,342
		Term Loan		9.00	%	Fixed		—			—			—			18.00	%	April 1, 2028		2,500		2,468		2,342
		Term Loan		9.00	%	Fixed		—			—			—			18.00	%	June 30, 2024		200		200		190
Candesant Biomedical, Inc. (2)(12)	Medical Device	Term Loan		12.00	%	Prime		3.50	%		11.50	%		—			5.00	%	September 1, 2027		5,000		4,757		4,757
		Term Loan		12.00	%	Prime		3.50	%		11.50	%		—			5.00	%	September 1, 2027		2,500		2,454		2,454
		Term Loan		12.00	%	Prime		3.50	%		11.50	%		—			5.00	%	September 1, 2027		2,500		2,454		2,454
Ceribell, Inc. (2)(12)	Medical Device	Term Loan		12.00	%	Prime		3.50	%		8.25	%		—			5.50	%	October 1, 2024		3,750		3,738		3,738
		Term Loan		12.00	%	Prime		3.50	%		8.25	%		—			5.50	%	October 1, 2024		3,750		3,738		3,738
		Term Loan		12.00	%	Prime		3.50	%		8.25	%		—			5.50	%	October 1, 2024		1,875		1,866		1,866
		Term Loan		12.00	%	Prime		3.50	%		8.25	%		—			5.50	%	October 1, 2024		1,875		1,866		1,866
Cognoa, Inc. (2)(12)	Medical Device	Term Loan		14.00	%	Prime		5.50	%		8.75	%		—			6.00	%	August 1, 2026		4,583		4,546		4,546
		Term Loan		14.00	%	Prime		5.50	%		8.75	%		—			6.00	%	August 1, 2026		2,292		2,273		2,273
Conventus Orthopaedics, Inc. (2)(12)	Medical Device	Term Loan		13.32	%	Prime		4.82	%		9.25	%		—			10.36	%	July 1, 2025		3,960		3,923		3,923
		Term Loan		13.32	%	Prime		4.82	%		9.25	%		—			10.36	%	July 1, 2025		3,960		3,923		3,923
CSA Medical, Inc. (2)(12)	Medical Device	Term Loan		13.59	%	Prime		5.09	%		10.00	%		—			5.00	%	January 1, 2024		500		500		500
		Term Loan		13.59	%	Prime		5.09	%		10.00	%		—			5.00	%	January 1, 2024		33		33		33
		Term Loan		13.59	%	Prime		5.09	%		10.00	%		—			5.00	%	March 1, 2024		800		794		794
MicroTransponder, Inc. (2)(12)	Medical Device	Term Loan		12.25	%	Prime		3.75	%		12.25	%		—			3.50	%	January 1, 2029		3,750		3,689		3,689
		Term Loan		12.25	%	Prime		3.75	%		12.25	%		—			3.50	%	January 1, 2029		3,750		3,689		3,689

Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Cash Rate (4)*			*Index*	*Margin*			*Floor*			*Ceiling*		*ETP (10)*			*Maturity Date*	*Principal Amount*		*Cost of Investments (6)(9)*		*Fair Value (9)*
Robin Healthcare, Inc. (2)(12)(13)	Medical Device	Term Loan		14.00	%	Prime		5.50	%		10.25	%		—		4.00	%	November 1, 2026		3,500		3,469		1,574
		Term Loan		14.00	%	Prime		5.50	%		10.25	%		—		4.00	%	November 1, 2026		3,500		3,563		1,617
Scientia Vascular, Inc. (2)(12)	Medical Device	Term Loan		13.25	%	Prime		4.75	%		8.50	%		—		5.00	%	January 1, 2027		3,750		3,722		3,722
		Term Loan		13.25	%	Prime		4.75	%		8.50	%		—		5.00	%	January 1, 2027		3,750		3,722		3,722
		Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		5.00	%	January 1, 2027		5,000		4,943		4,943
		Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		5.00	%	January 1, 2027		5,000		4,900		4,900
Sonex Health, Inc. (2)(12)	Medical Device	Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		8.00	%	September 1, 2027		2,500		2,297		2,297
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		8.00	%	September 1, 2027		2,500		2,473		2,473
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		8.00	%	September 1, 2027		5,000		4,946		4,946
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		8.00	%	September 1, 2027		5,000		4,946		4,946
Spineology, Inc. (2)(12)	Medical Device	Term Loan		15.50	%	Prime		7.00	%		10.25	%		—		1.00	%	October 1, 2025		5,000		4,978		4,978
		Term Loan		15.50	%	Prime		7.00	%		10.25	%		—		1.00	%	April 1, 2026		2,500		2,489		2,489
Swift Health Systems Inc. (2)(12)	Medical Device	Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		5.00	%	July 1, 2027		3,500		3,467		3,467
		Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		5.00	%	July 1, 2027		3,500		3,467		3,467
		Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		5.00	%	July 1, 2027		3,500		3,456		3,456
		Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		5.00	%	July 1, 2027		3,500		3,456		3,456
Vero Biotech, Inc. (2)(12)	Medical Device	Term Loan		12.25	%	Prime		3.75	%		12.25	%		—		4.00	%	January 1, 2029		15,000		14,675		14,675
		Term Loan		12.25	%	Prime		3.75	%		12.25	%		—		4.00	%	January 1, 2029		10,000		9,784		9,784
		Term Loan		12.25	%	Prime		3.75	%		12.25	%		—		4.00	%	January 1, 2029		5,000		4,892		4,892
		Term Loan		12.25	%	Prime		3.75	%		12.25	%		—		4.00	%	January 1, 2029		2,500		2,446		2,446
Total Non-Affiliate Debt Investments — Life Science																						249,642		244,815
Non-Affiliate Debt Investments — Sustainability — 24.6% (8)
New Aerofarms, Inc. assignee of Aerofarms, Inc. (2)(12)(15)	Other Sustainability	Term Loan		15.25	%	Prime		6.75	%		10.00	%		—		4.33	%	December 1, 2026		3,750		3,685		3,685
		Term Loan		15.25	%	Prime		6.75	%		10.00	%		—		4.33	%	December 1, 2026		3,750		3,685		3,685
Nexii Building Solutions, Inc. (2)(12)(13)(14)(18)	Other Sustainability	Term Loan		15.50	% (11)	Prime		7.00	%		10.25	%		—		2.50	%	March 31, 2024		8,425		8,353		4,549
		Term Loan		15.50	% (11)	Prime		7.00	%		10.25	%		—		2.50	%	March 31, 2024		8,425		8,229		4,481
		Term Loan		15.50	% (11)	Prime		7.00	%		10.25	%		—		2.50	%	March 31, 2024		8,425		8,229		4,481
		Term Loan		15.50	% (11)	Prime		7.00	%		10.25	%		—		2.50	%	March 31, 2024		5,617		5,480		2,984
		Term Loan		15.50	% (11)	Prime		7.00	%		10.25	%		—		2.50	%	March 31, 2024		5,617		5,480		2,984
		Term Loan		15.50	% (11)	Prime		7.00	%		10.25	%		—		—		March 31, 2024		735		726		395
		Term Loan		15.50	% (11)	Prime		7.00	%		10.25	%		—		—		March 31, 2024		586		578		315
		Term Loan		15.50	% (11)	Prime		7.00	%		10.25	%		—		—		March 31, 2024		292		288		157
		Term Loan		15.50	% (11)	Prime		7.00	%		10.25	%		—		—		March 31, 2024		290		286		156
		Term Loan		15.50	% (11)	Prime		7.00	%		10.25	%		—		—		March 31, 2024		174		172		93
		Term Loan		15.50	% (11)	Prime		7.00	%		10.25	%		—		—		March 31, 2024		802		791		431
		Term Loan		15.50	% (11)	Prime		7.00	%		10.25	%		—		—		March 31, 2024		1,091		1,083		590
Soli Organic, Inc. (2)(12)	Other Sustainability	Term Loan		15.25	%	Prime		6.75	%		10.00	%		—		2.75	%	April 1, 2026		5,000		4,959		4,959
		Term Loan		15.25	%	Prime		6.75	%		10.00	%		—		2.75	%	April 1, 2026		2,500		2,479		2,479
		Term Loan		15.25	%	Prime		6.75	%		10.00	%		—		2.75	%	May 1, 2026		5,000		4,956		4,956
		Term Loan		15.25	%	Prime		6.75	%		10.00	%		—		2.75	%	May 1, 2026		2,500		2,478		2,478
		Term Loan		14.00	%	Prime		5.50	%		11.75	%		—		2.75	%	December 1, 2026		5,000		4,934		4,934
		Term Loan		14.00	%	Prime		5.50	%		11.75	%		—		2.75	%	December 1, 2026		2,500		2,467		2,467
Temperpack Technologies, Inc. (2)(12)	Other Sustainability	Term Loan		15.25	%	Prime		6.75	%		10.00	%		—		2.50	%	April 1, 2028		3,750		3,694		3,694
		Term Loan		15.25	%	Prime		6.75	%		10.00	%		—		2.50	%	April 1, 2028		3,750		3,694		3,694
		Term Loan		15.25	%	Prime		6.75	%		10.00	%		—		2.50	%	April 1, 2028		7,500		7,379		7,379
		Term Loan		15.25	%	Prime		6.75	%		10.00	%		—		2.50	%	April 1, 2028		3,750		3,690		3,690
		Term Loan		15.25	%	Prime		6.75	%		10.00	%		—		2.50	%	April 1, 2028		3,750		3,690		3,690
		Term Loan		14.50	%	Prime		6.00	%		10.00	%		—		2.00	%	January 1,2029		4,500		4,446		4,446
		Term Loan		14.50	%	Prime		6.00	%		10.00	%		—		2.00	%	January 1,2029		2,000		1,976		1,976
Total Non-Affiliate Debt Investments — Sustainability																						97,907		79,828

Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Cash Rate (4)*			*Index*	*Margin*			*Floor*			*Ceiling*			*ETP (10)*			*Maturity Date*	*Principal Amount*		*Cost of Investments (6)(9)*		*Fair Value (9)*
Non-Affiliate Debt Investments — Technology — 83.3% (8)
Axiom Space, Inc. (2)(12)	Communications	Term Loan		14.50	%	Prime		6.00	%		9.25	%		—			2.50	%	June 1, 2026		6,250		6,218		6,218
		Term Loan		14.50	%	Prime		6.00	%		9.25	%		—			2.50	%	June 1, 2026		6,250		6,218		6,218
		Term Loan		14.50	%	Prime		6.00	%		9.25	%		—			2.50	%	June 1, 2026		6,250		6,218		6,218
CAMP NYC, Inc. (2)(12)	Consumer-related Technologies	Term Loan		15.75	%	Prime		7.25	%		10.50	%		—			3.00	%	May 1, 2026		3,383		3,356		3,356
Clara Foods Co. (2)(12)	Consumer-related Technologies	Term Loan		14.25	%	Prime		5.75	%		9.00	%		—			5.50	%	August 1, 2025		1,667		1,656		1,656
		Term Loan		14.25	%	Prime		5.75	%		9.00	%		—			5.50	%	August 1, 2025		1,583		1,573		1,573
Divergent Technologies, Inc. (2)(12)	Consumer-related Technologies	Term Loan		11.25	%	Prime		6.00	%		9.50	%		11.25	%		3.00	%	July 1, 2027		3,750		3,608		3,608
		Term Loan		11.25	%	Prime		6.00	%		9.50	%		11.25	%		3.00	%	July 1, 2027		1,250		1,242		1,242
		Term Loan		11.25	%	Prime		6.00	%		9.50	%		11.25	%		3.00	%	July 1, 2027		3,750		3,726		3,726
		Term Loan		11.25	%	Prime		6.00	%		9.50	%		11.25	%		3.00	%	July 1, 2027		1,250		1,242		1,242
		Term Loan		11.25	%	Prime		6.00	%		9.50	%		11.25	%		3.00	%	July 1, 2027		3,750		3,726		3,726
		Term Loan		11.25	%	Prime		6.00	%		9.50	%		11.25	%		3.00	%	July 1, 2027		1,250		1,242		1,242
		Term Loan		11.25	%	Prime		6.00	%		9.50	%		11.25	%		3.00	%	January 1, 2028		3,750		3,712		3,712
		Term Loan		11.25	%	Prime		6.00	%		9.50	%		11.25	%		3.00	%	January 1, 2028		3,750		3,712		3,712
		Term Loan		11.25	%	Prime		6.00	%		9.50	%		11.25	%		3.00	%	April 1, 2028		3,750		3,706		3,706
		Term Loan		11.25	%	Prime		6.00	%		9.50	%		11.25	%		3.00	%	July 1, 2028		3,750		3,707		3,707
		Term Loan		11.25	%	Prime		6.00	%		9.50	%		11.25	%		3.00	%	July 1, 2028		3,750		3,707		3,707
Havenly, Inc. (2)(12)	Consumer-related Technologies	Term Loan		13.50	%	Prime		5.00	%		5.00	%		—			4.00	%	March 1, 2027		2,000		1,421		1,421
		Term Loan		13.50	%	Prime		5.00	%		5.00	%		—			4.00	%	March 1, 2027		3,000		2,131		2,131
		Term Loan		12.00	%	Prime		3.50	%		10.50	%		—			7.78	%	February 1, 2028		2,813		2,813		2,813
		Term Loan		12.00	%	Prime		3.50	%		10.50	%		—			7.78	%	February 1, 2028		2,813		2,813		2,813
Lyrical Foods, Inc. (2)(12)	Consumer-related Technologies	Term Loan		12.00	%	Prime		3.50	%		9.00	%		—			1.00	%	September 1, 2027		2,500		2,591		2,429
MyForest Foods Co. (2)(12)	Consumer-related Technologies	Term Loan		15.25	%	Prime		6.75	%		10.00	%		—			3.00	%	October 1, 2025		3,667		3,647		3,647
		Term Loan		15.25	%	Prime		6.75	%		10.00	%		—			3.00	%	October 1, 2025		1,833		1,824		1,824
NextCar Holding Company, Inc. (2)(12)	Consumer-related Technologies	Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—			5.25	%	October 31, 2023		5,752		5,752		5,018
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—			5.25	%	October 31, 2023		2,301		2,301		2,007
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—			5.25	%	October 31, 2023		2,876		2,876		2,509
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—			5.25	%	October 31, 2023		3,451		3,451		3,011
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—			5.25	%	October 31, 2023		2,876		2,876		2,510
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—			5.25	%	October 31, 2023		2,876		2,876		2,510
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—			5.25	%	October 31, 2023		5,752		5,752		5,018
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—			5.25	%	October 31, 2023		2,876		2,876		2,510
Optoro, Inc. (2)(12)	Consumer-related Technologies	Term Loan		14.75	%	Prime		6.25	%		9.50	%		—			4.00	%	August 1, 2027		2,500		2,416		2,416
		Term Loan		14.75	%	Prime		6.25	%		9.50	%		—			4.00	%	July 1, 2028		1,875		1,787		1,787
Unagi, Inc. (2)(12)(13)	Consumer-related Technologies	Term Loan		16.25	% (11)	Prime		7.75	%		11.00	%		—			—		May 1, 2027		1,204		1,086		872
		Term Loan		16.25	% (11)	Prime		7.75	%		11.00	%		—			—		May 1, 2027		602		543		436
		Term Loan		16.25	% (11)	Prime		7.75	%		11.00	%		—			—		May 1, 2027		602		543		436
Liqid, Inc. (2)(12)	Networking	Term Loan		14.75	%	Prime		6.25	%		9.50	%		—			4.00	%	September 1, 2024		1,500		1,481		1,481
		Term Loan		14.75	%	Prime		6.25	%		9.50	%		—			4.00	%	September 1, 2024		1,500		1,481		1,481
		Term Loan		14.75	%	Prime		6.25	%		9.50	%		—			4.00	%	September 1, 2024		750		740		740
		Term Loan		14.75	%	Prime		6.25	%		9.50	%		—			4.00	%	September 1, 2024		667		656		656
		Term Loan		14.75	%	Prime		6.25	%		9.50	%		—			4.00	%	September 1, 2024		750		729		729
BriteCore Holdings, Inc. (2)(12)	Software	Term Loan		14.00	%	Prime		5.50	%		14.00	%		—			3.00	%	October 1, 2028		5,000		4,860		4,860
		Term Loan		14.00	%	Prime		5.50	%		14.00	%		—			3.00	%	October 1, 2028		2,500		2,466		2,466
		Term Loan		14.00	%	Prime		5.50	%		14.00	%		—			3.00	%	October 1, 2028		2,500		2,466		2,466
		Term Loan		14.00	%	Prime		5.50	%		14.00	%		—			3.00	%	October 1, 2028		2,500		2,466		2,466

Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Cash Rate (4)*			*Index*	*Margin*			*Floor*			*Ceiling*		*ETP (10)*			*Maturity Date*	*Principal Amount*		*Cost of Investments (6)(9)*		*Fair Value (9)*
Dropoff, Inc. (2)(12)	Software	Term Loan		15.00	% (19)	Prime		6.50	%		9.75	%		—		3.50	%	April 1, 2026		6,625		6,519		6,176
		Term Loan		15.00	% (19)	Prime		6.50	%		9.75	%		—		3.50	%	April 1, 2026		6,116		6,018		5,701
		Term Loan		15.00	% (19)	Prime		6.50	%		9.75	%		—		3.50	%	August 1, 2026		2,548		2,507		2,375
Engage3, LLC (2)(12)	Software	Term Loan		14.75	%	Prime		6.25	%		9.75	%		—		4.50	%	July 1, 2027		3,750		3,728		3,728
		Term Loan		14.75	%	Prime		6.25	%		9.75	%		—		4.50	%	July 1, 2027		3,750		3,728		3,728
Kodiak Robotics, Inc. (2)(12)	Software	Term Loan		14.00	%	Prime		5.50	%		10.25	%		—		4.00	%	April 1, 2026		10,000		9,895		9,895
		Term Loan		14.00	%	Prime		5.50	%		10.25	%		—		4.00	%	April 1, 2026		10,000		9,895		9,895
		Term Loan		14.00	%	Prime		5.50	%		10.25	%		—		4.00	%	April 1, 2026		5,000		4,947		4,947
		Term Loan		14.00	%	Prime		5.50	%		10.25	%		—		4.00	%	April 1, 2026		5,000		4,947		4,947
Lemongrass Holdings, Inc. (2)(12)	Software	Term Loan		15.00	%	Prime		6.50	%		9.75	%		—		2.50	%	March 1, 2026		5,000		4,971		4,971
		Term Loan		15.00	%	Prime		6.50	%		9.75	%		—		2.50	%	March 1, 2026		2,500		2,486		2,486
Lytics, Inc. (2)(12)	Software	Term Loan		14.50	%	Prime		6.00	%		14.25	%		—		4.00	%	November 1, 2026		2,500		2,471		2,373
		Term Loan		14.50	%	Prime		6.00	%		14.25	%		—		4.00	%	December 1, 2026		1,250		1,237		1,188
		Term Loan		14.50	%	Prime		6.00	%		14.25	%		—		4.00	%	April 1, 2027		1,000		994		954
Mirantis, Inc. (2)(12)	Software	Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2028		5,000		4,779		4,779
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2028		5,000		4,915		4,915
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2028		5,000		4,915		4,915
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2028		5,000		4,915		4,915
Noodle Partners, Inc. (2)(12)	Software	Term Loan		13.50	%	Prime		5.00	%		12.00	%		—		3.00	%	March 1, 2027		10,000		9,885		9,885
		Term Loan		13.50	%	Prime		5.00	%		12.00	%		—		3.00	%	March 1, 2027		5,000		4,942		4,942
		Term Loan		13.50	%	Prime		5.00	%		12.00	%		—		3.00	%	March 1, 2027		5,000		4,942		4,942
Reputation Institute, Inc. (2)(12)	Software	Term Loan		15.75	%	Prime		7.25	%		10.50	%		—		3.00	%	August 1, 2025		3,667		3,625		3,625
Slingshot Aerospace, Inc. (2)(12)	Software	Term Loan		14.25	%	Prime		5.75	%		9.75	%		—		5.00	%	August 1, 2026		5,000		4,959		4,959
		Term Loan		14.25	%	Prime		5.75	%		9.75	%		—		5.00	%	August 1, 2026		5,000		4,959		4,959
		Term Loan		14.25	%	Prime		5.75	%		9.75	%		—		5.00	%	August 1, 2026		5,000		4,959		4,959
		Term Loan		14.25	%	Prime		5.75	%		9.75	%		—		5.00	%	August 1, 2026		5,000		4,959		4,959
Supply Network Visibility Holdings LLC (2)(12)	Software	Term Loan		12.75	%	Prime		4.25	%		12.00	%		—		2.50	%	June 1, 2028		2,500		2,457		2,457
		Term Loan		12.75	%	Prime		4.25	%		12.00	%		—		2.50	%	June 1, 2028		3,500		3,489		3,489
		Term Loan		12.75	%	Prime		4.25	%		12.00	%		—		2.50	%	June 1, 2028		2,500		2,492		2,492
		Term Loan		12.75	%	Prime		4.25	%		12.00	%		—		2.50	%	June 1, 2028		1,500		1,495		1,495
Viken Detection Corporation (2)(12)	Software	Term Loan		12.50	%	Prime		4.00	%		11.75	%		—		3.50	%	June 1, 2027		5,000		4,773		4,773
		Term Loan		12.50	%	Prime		4.00	%		11.75	%		—		3.50	%	June 1, 2027		2,500		2,467		2,467
		Term Loan		12.50	%	Prime		4.00	%		11.75	%		—		3.50	%	June 1, 2027		2,500		2,467		2,467
Total Non-Affiliate Debt Investments — Technology																						275,026		269,790
Non-Affiliate Debt Investments — Healthcare information and services — 21.5% (8)
Hound Labs inc. (2) (12)	Diagnostics	Term Loan		14.50	%	Prime		6.00	%		9.25	%		—		3.50	%	June 1, 2026		2,500		2,484		2,484
		Term Loan		14.50	%	Prime		6.00	%		9.25	%		—		3.50	%	June 1, 2026		2,500		2,484		2,484
		Term Loan		14.50	%	Prime		6.00	%		9.25	%		—		3.50	%	June 1, 2026		5,000		4,968		4,968
Parse Biosciences, Inc. (2)(12)	Diagnostics	Term Loan		11.75	%	Prime		3.25	%		11.50	%		—		5.00	%	January 1, 2028		5,000		4,633		4,633
		Term Loan		11.75	%	Prime		3.25	%		11.50	%		—		5.00	%	January 1, 2028		5,000		4,884		4,884
BrightInsight, Inc. (2)(12)	Software	Term Loan		14.00	%	Prime		5.50	%		9.50	%		—		3.00	%	August 1, 2027		7,000		6,684		6,684
		Term Loan		14.00	%	Prime		5.50	%		9.50	%		—		3.00	%	August 1, 2027		3,500		3,463		3,463
		Term Loan		14.00	%	Prime		5.50	%		9.50	%		—		3.00	%	August 1, 2027		3,500		3,463		3,463
		Term Loan		14.00	%	Prime		5.50	%		9.50	%		—		3.00	%	April 1, 2028		2,750		2,710		2,710
Elligo Health Research, Inc. (2)(12)	Software	Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2027		10,000		9,656		9,656
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2027		5,000		4,925		4,925
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2027		5,000		4,925		4,925
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2027		5,000		4,925		4,925
SafelyYou, Inc. (2)(12)	Software	Term Loan		11.75	%	Prime		3.25	%		11.00	%		—		5.00	%	June 1, 2027		5,000		4,648		4,648
		Term Loan		11.75	%	Prime		3.25	%		11.00	%		—		5.00	%	June 1, 2027		5,000		4,918		4,918
Total Non-Affiliate Debt Investments — Healthcare information and services																						69,770		69,770
*Total Non- Affiliate Debt Investments*																						692,345		664,203

					*Cost of*		*Fair*
Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Number of Shares*		*Investments (6)(9)*		*Value (9)*
Non-Affiliate Warrant Investments — 7.6% (8)
Non-Affiliate Warrants — Life Science — 2.3% (8)
Avalo Therapeutics, Inc. (2)(5)(12)	Biotechnology	Common Stock Warrant		117		311		—
Castle Creek Biosciences, Inc. (2)(12)	Biotechnology	Preferred Stock Warrant		7,404		214		318
Emalex Biosciences, Inc. (2)(12)	Biotechnology	Preferred Stock Warrant		110,402		178		246
Imunon, Inc. (2)(5)(12)	Biotechnology	Common Stock Warrant		19,671		65		—
KSQ Therapeutics, Inc. (2) (12)	Biotechnology	Preferred Stock Warrant		48,076		50		53
Mustang Bio, Inc. (2)(5)(12)	Biotechnology	Common Stock Warrant		16,611		146		—
Native Microbials, Inc (2)(12)	Biotechnology	Preferred Stock Warrant		103,679		64		157
PDS Biotechnology Corporation (2)(5)(12)	Biotechnology	Common Stock Warrant		299,848		160		606
Provivi, Inc. (2)(12)	Biotechnology	Common Stock Warrant		175,098		278		—
Provivi, Inc. (2)(12)	Biotechnology	Preferred Stock Warrant		691,895		312		225
Stealth Biotherapeutics Inc. (2)(12)	Biotechnology	Common Stock Warrant		318,181		264		113
Tallac Therapeutics, Inc. (2)(12)	Biotechnology	Preferred Stock Warrant		1,600,002		194		172
Xeris Pharmaceuticals, Inc. (2)(5)(12)	Biotechnology	Common Stock Warrant		126,000		72		33
AccuVein Inc. (2)(12)	Medical Device	Common Stock Warrant		1,175		24		—
Aerin Medical, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		1,818,183		66		1,199
Aerobiotix, LLC (2)(12)	Medical Device	Preferred Stock Warrant		8,800		48		9
Canary Medical Inc. (2)(12)	Medical Device	Preferred Stock Warrant		12,153		86		1,305
Candesant Biomedical, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		93,336		152		135
Ceribell, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		145,483		69		229
Cognoa, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		4,106,174		149		167
Conventus Orthopaedics, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		7,972,222		221		206
CSA Medical, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		3,341,376		174		124
CVRx, Inc. (2)(5)(12)	Medical Device	Common Stock Warrant		47,410		76		980
Infobionic, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		2,010,424		124		26
Magnolia Medical Technologies, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		809,931		194		368
Meditrina, Inc. (12)	Medical Device	Preferred Stock Warrant		233,993		83		93
MicroTransponder, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		103,172		47		47
Scientia Vascular, Inc (2)(12)	Medical Device	Preferred Stock Warrant		34,410		103		215
Sonex Health, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		2,637,043		275		269
VERO Biotech LLC (2)(12)	Medical Device	Preferred Stock Warrant		4,109		432		379
Swift Health Systems Inc. (2)(12)	Medical Device	Preferred Stock Warrant		135,484		71		1
Total Non-Affiliate Warrants — Life Science						4,702		7,675

					*Cost of*		*Fair*
Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Number of Shares*		*Investments (6)(9)*		*Value (9)*
*Non-Affiliate Warrants — Sustainability — 0.2% (8)*
New Aerofarms, Inc. assignee of Aerofarms, Inc. (2)(12)(15)	Other Sustainability	Preferred Stock Warrant		400,000		81		72
LiquiGlide, Inc. (2)(12)	Other Sustainability	Common Stock Warrant		61,359		39		50
Nexii Building Solutions, Inc. (2)(12)(14)(18)	Other Sustainability	Common Stock Warrant		215,171		490		—
Soli Organic, Inc. (2)(12)	Other Sustainability	Preferred Stock Warrant		681		214		340
Temperpack Technologies, Inc. (2)(12)	Other Sustainability	Preferred Stock Warrant		46,311		175		80
*Total Non-Affiliate Warrants — Sustainability*						999		542
Non-Affiliate Warrants — Technology — 4.5% (8)
Axiom Space, Inc. (2)(12)	Communications	Common Stock Warrant		1,991		47		61
Intelepeer Holdings, Inc. (2)(12)	Communications	Preferred Stock Warrant		2,936,535		138		3,036
PebblePost, Inc. (2)(12)	Communications	Preferred Stock Warrant		598,850		92		131
Alula Holdings, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		20,000		93		—
Aterian, Inc. (2)(5)(12)	Consumer-related Technologies	Common Stock Warrant		76,923		195		—
Caastle, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		268,591		65		1,055
CAMP NYC, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		75,997		22		27
Clara Foods Co. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		46,745		29		122
CZV, Inc. (2)(12)	Consumer-related Technologies	Common Stock Warrant		65,569		81		71
Divergent Technologies, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		37,282		94		250
Havenly, Inc. (2)(12)	Consumer-related Technologies	Common Stock Warrant		1,312,500		2,947		2,259
MyForest Foods Co. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		250		29		56
NextCar Holding Company, Inc. (2)(12)	Consumer-related Technologies	Common Stock Warrant		12,618		188		—
NextCar Holding Company, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		1,224,752		9		—
Optoro, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		11,550		182		145
Primary Kids, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		553,778		57		591
Quip NYC Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		6,191		325		533
Unagi, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		171,081		32		—
Updater, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		114,659		34		—
CPG Beyond, Inc. (2)(12)	Data Storage	Preferred Stock Warrant		500,000		242		294
Silk, Inc. (2)(12)	Data Storage	Preferred Stock Warrant		394,110		175		124
Global Worldwide LLC (2)(12)	Internet and Media	Preferred Stock Warrant		245,810		75		63
Rocket Lawyer Incorporated (2)(12)	Internet and Media	Preferred Stock Warrant		261,721		92		318
Skillshare, Inc. (2)(12)	Internet and Media	Preferred Stock Warrant		139,074		162		1,201
Liqid, Inc. (2)(12)	Networking	Preferred Stock Warrant		344,102		364		210
Halio, Inc. (2)(12)	Power Management	Common Stock Warrant		38,241,466		1,585		2,700
Avalanche Technology, Inc. (2)(12)	Semiconductors	Preferred Stock Warrant		5,938		45		—
BriteCore Holdings, Inc. (2)(12)	Software	Preferred Stock Warrant		161,215		98		174
Dropoff, Inc. (2)(12)	Software	Common Stock Warrant		516,732		455		46
E La Carte, Inc. (2)(5)(12)	Software	Common Stock Warrant		147,361		60		—
Everstream Holdings, LLC (2)(12)	Software	Preferred Stock Warrant		350,000		70		63
Kodiak Robotics, Inc. (2)(12)	Software	Preferred Stock Warrant		639,918		273		13
Lemongrass Holdings, Inc. (2)(12)	Software	Preferred Stock Warrant		101,308		32		120
Lotame Solutions, Inc. (2)(12)	Software	Preferred Stock Warrant		71,305		18		42
Lytics, Inc. (2)(12)	Software	Preferred Stock Warrant		85,543		43		1
Mirantis, Inc. (2)(12)	Software	Common Stock Warrant		948,275		223		247
Noodle Partners, Inc. (2)(12)	Software	Preferred Stock Warrant		84,037		115		2
Reputation Institute, Inc. (2)(12)	Software	Preferred Stock Warrant		3,731		56		80
Revinate Holdings, Inc. (2)(12)	Software	Preferred Stock Warrant		682,034		44		91
SIGNiX, Inc. (12)	Software	Preferred Stock Warrant		186,235		225		—
Slingshot Aerospace, Inc. (2)(12)	Software	Preferred Stock Warrant		309,208		123		135
Supply Network Visibility Holdings LLC (2)(12)	Software	Preferred Stock Warrant		682		64		135
Topia Mobility, Inc. (2)(12)	Software	Preferred Stock Warrant		3,049,607		138		—
Viken Detection Corporation (2)(12)	Software	Preferred Stock Warrant		345,443		120		105
xAd, Inc. (2)(12)	Software	Preferred Stock Warrant		4,343,348		177		5
Total Non-Affiliate Warrants — Technology						9,733		14,506

					*Cost of*		*Fair*
Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Number of Shares*		*Investments (6)(9)*		*Value (9)*
Non-Affiliate Warrants — Healthcare information and services — 0.6% (8)
Hound Labs, Inc (2) (12)	Diagnostics	Preferred Stock Warrant		171,370		46		12
Parse Biosciences, Inc. (2)(12)	Diagnostics	Common Stock Warrant		32,244		70		70
Parse Biosciences, Inc. (2)(12)	Diagnostics	Preferred Stock Warrant		184,253		166		166
Kate Farms, Inc. (2)(12)	Other Healthcare	Preferred Stock Warrant		82,965		102		1,366
BrightInsight, Inc. (2)(12)	Software	Preferred Stock Warrant		85,066		167		—
Elligo Health Research, Inc. (2)(12)	Software	Preferred Stock Warrant		652,250		192		99
Medsphere Systems Corporation (2)(12)	Software	Preferred Stock Warrant		7,097,792		60		108
SafelyYou, Inc. (2)(12)	Software	Preferred Stock Warrant		150,353		163		50
Total Non-Affiliate Warrants — Healthcare information and services						966		1,871
*Total Non-Affiliate Warrants*						16,400		24,594
Non-Affiliate Other Investments — Life Science — 0.1% (8)
Lumithera, Inc. (12)	Medical Device	Royalty Agreement				1,200		200
ZetrOZ, Inc. (12)	Medical Device	Royalty Agreement				—		—
*Total Non-Affiliate Other Investments*						1,200		200
Non-Affiliate Equity — 1.5% (8)
Cadrenal Therapeutics, Inc. (5)	Biotechnology	Common Stock		600,000		—		443
Castle Creek Biosciences, Inc. (12)	Biotechnology	Common Stock		1,162		250		250
Emalex Biosciences, Inc. (12)	Biotechnology	Common Stock		32,831		355		355
Axiom Space, Inc. (12)	Communication	Preferred Stock		1,810		261		306
Getaround, Inc. (2)(5)	Consumer-related Technologies	Common Stock		87,082		253		20
NextCar Holding Company, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock		2,688,971		89		89
SnagAJob.com, Inc. (12)	Consumer-related Technologies	Common Stock		82,974		9		83
Lumithera, Inc. (12)	Medical Device	Common Stock		392,651		2,000		1,700
Tigo Energy, Inc. (5)	Other Sustainability	Common Stock		5,205		111		13
Decisyon, Inc. (12)	Software	Preferred Stock		280,000		2,800		1,281
Lotame, Inc. (12)	Software	Preferred Stock		66,127		4		193
*Total Non-Affiliate Equity*						6,132		4,733
*Total Non-Affiliate Portfolio Investment Assets*						$716,077		$693,730

Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Cash Rate (4)*			*Index*	*Margin*			*Floor*			*Ceiling*		*ETP (10)*			*Maturity Date*	*Principal Amount*		*Cost of Investments (6)(9)*		*Fair Value (9)*
Non-Controlled Affiliate Investments — 0.3% (8)
Non-Controlled Affiliate Debt Investments — Life Sciences — 0.3% (8)
Evelo Biosciences, Inc. (2)(5)(12)(13)	Biotechnology	Term Loan		12.75	% (11)	Prime		4.25	%		11.00	%		—		2.27	%	January 1, 2028		5,532		5,228		222
		Term Loan		12.75	% (11)	Prime		4.25	%		11.00	%		—		2.27	%	January 1, 2028		8,298		7,867		336
		Term Loan		12.75	% (11)	Prime		4.25	%		11.00	%		—		2.27	%	January 1, 2028		3,319		3,137		133
		Term Loan		12.75	% (11)	Prime		4.25	%		11.00	%		—		2.27	%	January 1, 2028		3,319		3,137		133
		Term Loan		12.75	% (11)	Prime		4.25	%		11.00	%		—		2.27	%	January 1, 2028		2,213		2,091		88
		Term Loan		12.75	% (11)	Prime		4.25	%		11.00	%		—		2.27	%	January 1, 2028		2,213		2,091		88
Total Non-Controlled Affiliate Debt Investments																						23,551		1,000

					*Cost of*		*Fair*
Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Number of Shares*		*Investments (6)(9)*		*Value (9)*
Non-controlled Affiliate Equity — Life Sciences — 0.0% (8)
Aulea Medical, Inc. (12)(16)	Medical Device	Common Stock		660,537		—		—
Evelo Biosciences, Inc. (5)	Biotechnology	Common Stock		2,164,502		5,000		132
Total Non-Controlled Affiliate Equity						5,000		132
Non-controlled Affiliate Warrants — Life Sciences — 0.0% (8)
Evelo Biosciences, Inc. (2)(5)(12)	Biotechnology	Common Stock		23,196		126		—
Total Non-Controlled Affiliate Warrants						126		—
*Total Non-Controlled Affiliate Portfolio Investment Assets*						$28,677		$1,132

Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Cash Rate (4)*			*Index*	*Margin*			*Floor*			*Ceiling*		*ETP (10)*			*Maturity Date*	*Principal Amount*		*Cost of Investments (6)(9)*		*Fair Value (9)*
Controlled Affiliate Investments — 4.4% (8)
Controlled Affiliate Debt Investments — Technology — 1.6% (8)
Better Place Forests Co. (12)	Consumer-related Technologies	Term Loan		12.25	% (11)	Prime		3.75	%		12.00	%		—		1.85	%	August 1, 2029		3,547		3,585		3,339
		Term Loan		12.25	% (11)	Prime		3.75	%		12.00	%		—		1.85	%	August 1, 2029		1,773		1,750		1,630
Total Controlled Affiliate Debt Investments																						5,335		4,969

					*Cost of*		*Fair*
Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Number of Shares*		*Investments (6)(9)*		*Value (9)*
Controlled Affiliate Equity — Technology — 0.9% (8)
Better Place Forests Co. (12)	Consumer-related Technologies	Common Stock		2,278,272		2,061		2,165
Better Place Forests Co. (12)	Consumer-related Technologies	Preferred Stock		3,124,448		1,250		859
Total Controlled Affiliate Equity						3,311		3,024
Controlled Affiliate Other Investments — Life Sciences — 1.9% (8)
HIMV LLC (12)(17)	Biotechnology	Other Investment				5,782		6,230
Total Controlled Affiliate Other						5,782		6,230
*Total Controlled Affiliate Portfolio Investment Assets*						$14,428		$14,223
*Total Portfolio Investment Assets — 218.9% (8)*						$759,182		$709,085

Short Term Investments - Unrestricted Investments - 1.0% (8)
US Bank Money Market Deposit Account		26,450		26,450
Total Short Term Investments - Unrestricted Investments	$	26,450	$	26,450

Short Term Investments - Restricted Investments - 0.8% (8)
US Bank Money Market Deposit Account		2,642		2,642
Total Short Term Investments - Restricted Investments	$	2,642	$	2,642

Consolidated Statements of Assets and Liabilities (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Investments at cost	$ 733,232	$ 759,182
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares oustanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	37,970,529	33,534,854
Common stock, shares outstanding (in shares)	37,803,064	33,367,389
Investment, Unaffiliated Issuer [Member]
Investments at cost	$ 680,401	$ 716,077
Investment, Affiliated Issuer, Noncontrolled [Member]
Investments at cost	27,478	28,677
Investment, Affiliated Issuer, Controlled [Member]
Investments at cost	$ 25,353	$ 14,428

Note 10 - Distributions - Distribution Activity (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
	Oct. 25, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Distributions declared per share (in dollars per share)		$ 0.33	$ 0.33	$ 1.04	$ 0.99	$ 1.37
Dividends, cash				$ 27,827		$ 41,881
Dividends, shares (in shares)				126,380		145,743
Dividends, stock				$ 1,451		$ 1,833
O 2025 M2 Dividends [Member] \| Forecast [Member]
Record date	Feb. 18, 2025
Payment date	Mar. 14, 2025
Distributions declared per share (in dollars per share)	$ 0.11
O 2025 M1 Dividends [Member] \| Forecast [Member]
Record date	Jan. 16, 2025
Payment date	Feb. 14, 2025
Distributions declared per share (in dollars per share)	$ 0.11
O 2024 M7 1 Dividends [Member]
Record date				Nov. 15, 2024
Payment date				Dec. 13, 2024
Distributions declared per share (in dollars per share)				$ 0.11
Dividends, cash				$ 0
Dividends, shares (in shares)				0
Dividends, stock				$ 0
O 2024 M12 Dividends [Member] \| Forecast [Member]
Record date	Dec. 16, 2024
Payment date	Jan. 15, 2025
Distributions declared per share (in dollars per share)	$ 0.11
O 2024 M7 2 Dividends [Member]
Record date				Oct. 17, 2024
Payment date				Nov. 14, 2024
Distributions declared per share (in dollars per share)				$ 0.11
Dividends, cash				$ 0
Dividends, shares (in shares)				0
Dividends, stock				$ 0
O 2024 M7 3 Dividends [Member]
Record date				Sep. 16, 2024
Payment date				Oct. 16, 2024
Distributions declared per share (in dollars per share)				$ 0.11
Dividends, cash				$ 3,914
Dividends, shares (in shares)				18,539
Dividends, stock				$ 195
O 2024 M4 1 Dividends [Member]
Record date				Aug. 16, 2024
Payment date				Sep. 13, 2024
Distributions declared per share (in dollars per share)				$ 0.11
Dividends, cash				$ 3,818
Dividends, shares (in shares)				17,441
Dividends, stock				$ 192
O 2024 M4 2 Dividends [Member]
Record date				Jul. 17, 2024
Payment date				Aug. 15, 2024
Distributions declared per share (in dollars per share)				$ 0.11
Dividends, cash				$ 3,775
Dividends, shares (in shares)				16,852
Dividends, stock				$ 192
O 2024 M4 3 Dividends [Member]
Record date				Jun. 17, 2024
Payment date				Jul. 16, 2024
Distributions declared per share (in dollars per share)				$ 0.11
Dividends, cash				$ 3,766
Dividends, shares (in shares)				15,860
Dividends, stock				$ 199
O 2024 M2 1 Dividends [Member]
Record date				Jun. 17, 2024
Payment date				Jun. 14, 2024
Distributions declared per share (in dollars per share)				$ 0.11
Dividends, cash				$ 3,701
Dividends, shares (in shares)				16,686
Dividends, stock				$ 201
O 2024 M2 2 Dividends [Member]
Record date				Apr. 18, 2024
Payment date				May 15, 2024
Distributions declared per share (in dollars per share)				$ 0.11
Dividends, cash				$ 3,654
Dividends, shares (in shares)				16,687
Dividends, stock				$ 199
O 2024 M2 3 Dividends [Member]
Record date				Mar. 19, 2024
Payment date				Apr. 16, 2024
Distributions declared per share (in dollars per share)				$ 0.05
Dividends, cash				$ 1,625
Dividends, shares (in shares)				7,598
Dividends, stock				$ 85
O 2024 M2 4 Dividends [Member]
Record date				Mar. 19, 2024
Payment date				Apr. 16, 2024
Distributions declared per share (in dollars per share)				$ 0.11
Dividends, cash				$ 3,574
Dividends, shares (in shares)				16,717
Dividends, stock				$ 188
O 2023 M10 1 Dividends [Member]
Record date						Feb. 16, 2024
Payment date						Mar. 15, 2024
Distributions declared per share (in dollars per share)						$ 0.11
Dividends, cash						$ 3,463
Dividends, shares (in shares)						18,257
Dividends, stock						$ 210
O 2023 M10 2 Dividends [Member]
Record date						Jan. 18, 2024
Payment date						Feb. 14, 2024
Distributions declared per share (in dollars per share)						$ 0.11
Dividends, cash						$ 3,462
Dividends, shares (in shares)						15,873
Dividends, stock						$ 210
O 2023 M10 3 Dividends [Member]
Record date						Dec. 19, 2023
Payment date						Jan. 16, 2024
Distributions declared per share (in dollars per share)						$ 0.11
Dividends, cash						$ 3,472
Dividends, shares (in shares)						14,563
Dividends, stock						$ 199
O 2023 M10 4 Dividends [Member]
Record date						Nov. 17, 2023
Payment date						Dec. 15, 2023
Distributions declared per share (in dollars per share)						$ 0.05
Dividends, cash						$ 1,574
Dividends, shares (in shares)						7,137
Dividends, stock						$ 93
O 2023 M7 1 Dividends [Member]
Record date						Nov. 17, 2023
Payment date						Dec. 15, 2023
Distributions declared per share (in dollars per share)						$ 0.11
Dividends, cash						$ 3,463
Dividends, shares (in shares)						15,701
Dividends, stock						$ 206
O 2023 M7 2 Dividends [Member]
Record date						Oct. 18, 2023
Payment date						Nov. 15, 2023
Distributions declared per share (in dollars per share)						$ 0.11
Dividends, cash						$ 3,493
Dividends, shares (in shares)						14,022
Dividends, stock						$ 173
O 2023 M7 3 Dividends [Member]
Record date						Sep. 19, 2023
Payment date						Oct. 16, 2023
Distributions declared per share (in dollars per share)						$ 0.11
Dividends, cash						$ 3,445
Dividends, shares (in shares)						15,067
Dividends, stock						$ 184
O 2023 M4 1 Dividends [Member]
Record date						Aug. 17, 2023
Payment date						Sep. 15, 2023
Distributions declared per share (in dollars per share)						$ 0.11
Dividends, cash						$ 3,458
Dividends, shares (in shares)						8,665
Dividends, stock						$ 106
O 2023 M4 2 Dividends [Member]
Record date						Jul. 18, 2023
Payment date						Aug. 15, 2023
Distributions declared per share (in dollars per share)						$ 0.11
Dividends, cash						$ 3,427
Dividends, shares (in shares)						8,307
Dividends, stock						$ 105
O 2023 M4 3 Dividends [Member]
Record date						Jun. 16, 2023
Payment date						Jul. 14, 2023
Distributions declared per share (in dollars per share)						$ 0.11
Dividends, cash						$ 3,434
Dividends, shares (in shares)						7,424
Dividends, stock						$ 96
O 2023 M2 1 Dividends [Member]
Record date						May 18, 2023
Payment date						Jun. 14, 2023
Distributions declared per share (in dollars per share)						$ 0.11
Dividends, cash						$ 3,087
Dividends, shares (in shares)						7,128
Dividends, stock						$ 86
O 2023 M2 2 Dividends [Member]
Record date						Apr. 18, 2023
Payment date						May 16, 2023
Distributions declared per share (in dollars per share)						$ 0.11
Dividends, cash						$ 3,068
Dividends, shares (in shares)						6,705
Dividends, stock						$ 84
O 2023 M2 3 Dividends [Member]
Record date						Mar. 17, 2023
Payment date						Apr. 14, 2023
Distributions declared per share (in dollars per share)						$ 0.11
Dividends, cash						$ 3,035
Dividends, shares (in shares)						6,894
Dividends, stock						$ 81

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Investment income
Payment-in-kind interest income			$ 2,114	$ 6,088
Total investment income	$ 24,563	$ 29,138	76,370	85,292
Expenses
Interest expense	7,945	7,107	24,046	21,407
Base management fee (Note 3)	2,989	3,213	9,178	9,621
Performance based incentive fee (Note 3)	0	0	295	3,094
Administrative fee (Note 3)	400	441	1,259	1,249
Professional fees	587	452	1,707	1,558
General and administrative	432	392	1,419	1,384
Total expenses	12,353	11,605	37,904	38,313
Net investment income before excise tax	12,210	17,533	38,466	46,979
Provision for excise tax	373	179	1,109	542
Net investment income	11,837	17,354	37,357	46,437
Net realized and unrealized loss
Net realized gain (loss) on investments	(33,894)	(11,816)	(31,422)	(28,513)
Net unrealized appreciation (depreciation) on investments	29,335	(17,518)	864	(24,448)
Net realized and unrealized loss	(4,559)	(29,334)	(30,558)	(52,961)
Net increase (decrease) in net assets resulting from operations	$ 7,278	$ (11,980)	$ 6,799	$ (6,524)
Net investment income per common share (in dollars per share)	$ 0.32	$ 0.53	$ 1.06	$ 1.54
Net increase (decrease) in net assets resulting from operations per common share (in dollars per share)	0.2	(0.37)	0.19	(0.22)
Distributions declared per share (in dollars per share)	$ 0.33	$ 0.33	$ 1.04	$ 0.99
Weighted average shares outstanding (in shares)	36,571,000	32,451,900	35,200,189	30,155,287
Investment, Unaffiliated Issuer [Member]
Investment income
Interest income	$ 22,779	$ 23,825	$ 71,549	$ 75,695
Fee income	1,382	124	2,661	2,255
Payment-in-kind interest income	161	3,777	1,554	5,930
Net realized and unrealized loss
Net realized gain (loss) on investments	(33,894)	(11,816)	(31,459)	(28,513)
Net unrealized appreciation (depreciation) on investments	35,407	180	(2,094)	(7,656)
Investment, Affiliated Issuer, Noncontrolled [Member]
Investment income
Interest income	0	1,246	0	1,246
Net realized and unrealized loss
Net realized gain (loss) on investments	0	0	37	0
Net unrealized appreciation (depreciation) on investments	(6,237)	(19,055)	8,374	(18,149)
Investment, Affiliated Issuer, Controlled [Member]
Investment income
Interest income	25	8	46	8
Payment-in-kind interest income	216	158	560	158
Net realized and unrealized loss
Net realized gain (loss) on investments	0	0	0	0
Net unrealized appreciation (depreciation) on investments	$ 165	$ 1,357	$ (5,416)	$ 1,357

Note 8 - Financial Instruments With Off-balance-sheet Risk (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value Disclosure, off-Balance-Sheet Risks, Amount, Liability	$ 1,772	$ 2,033
Commitments to Extend Credit [Member]
Other Commitment	189,900	180,500
Unfunded Loan Commitment [Member]
Fair Value Disclosure, off-Balance-Sheet Risks, Amount, Liability	$ 1,800	$ 2,000

Note 3 - Related Party Transactions - Expiration Dates of Contingent Future Liability (Details) - Investment Management Agreement [Member] $ in Thousands	Sep. 30, 2024 USD ($)
Incentive Fee Cap and Deferral Mechanism, Contingent Future Liability	$ 18,084
December 31, 2025 Expiration [Member]
Incentive Fee Cap and Deferral Mechanism, Contingent Future Liability	1,037
March 31, 2026 Expiration [Member]
Incentive Fee Cap and Deferral Mechanism, Contingent Future Liability	219
June 30, 2026 Expiration [Member]
Incentive Fee Cap and Deferral Mechanism, Contingent Future Liability	3,120
September 30, 2026 Expiration [Member]
Incentive Fee Cap and Deferral Mechanism, Contingent Future Liability	3,471
December 31, 2026 Expiration [Member]
Incentive Fee Cap and Deferral Mechanism, Contingent Future Liability	3,002
March 31, 2027 Expiration [Member]
Incentive Fee Cap and Deferral Mechanism, Contingent Future Liability	2,285
June 30, 2027 Expiration [Member]
Incentive Fee Cap and Deferral Mechanism, Contingent Future Liability	2,582
September 30, 2027 Expiration [Member]
Incentive Fee Cap and Deferral Mechanism, Contingent Future Liability	$ 2,368

Note 10 - Distributions (Details Textual) - $ / shares	3 Months Ended		9 Months Ended
Note 10 - Distributions (Details Textual) - $ / shares	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Common Stock, Dividends, Per Share, Cash Paid (in dollars per share)	$ 0.33
Earnings Per Share, Basic (in dollars per share)	0.32	$ 0.53	$ 1.06	$ 1.54
Earnings Per Share, Basic, Undistributed (in dollars per share)	$ 1.27

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482635/260-10-55-52

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482635/260-10-55-15

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-7

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-4

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-10

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-7

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2024	Oct. 29, 2024
Document Information [Line Items]
Entity Central Index Key	0001487428
Entity Registrant Name	Horizon Technology Finance Corp
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	814-00802
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-2114934
Entity Address, Address Line One	312 Farmington Avenue
Entity Address, City or Town	Farmington
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06032
City Area Code	860
Local Phone Number	676‑8654
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		38,062,377
The 6.25% Notes due 2027 [Member]
Document Information [Line Items]
Title of 12(b) Security	6.25% Notes due 2027
Trading Symbol	HTFC
Security Exchange Name	NYSE
The 4.875% Notes due 2026 [Member]
Document Information [Line Items]
Title of 12(b) Security	4.875% Notes due 2026
Trading Symbol	HTFB
Security Exchange Name	NYSE
Common Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	HRZN
Security Exchange Name	NASDAQ

Insider Trading Arrangements	3 Months Ended	9 Months Ended
Insider Trading Arrangements	Sep. 30, 2024	Sep. 30, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]		Item 5: Other Information *Rule 10b5-1 Trading Plans* During the fiscal quarter ended September 30, 2024, none of our directors or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of our securities to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement”.
Rule 10b5-1 Arrangement Terminated [Flag]	false
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false

Note 9 - Concentrations of Credit Risk

9 Months Ended

Sep. 30, 2024

Concentration Risk Disclosure [Text Block]

Note 9. Concentrations of credit risk

The Company’s debt investments consist primarily of loans to development-stage companies at various stages of development in the technology, life science, healthcare information and services and sustainability industries. Many of these companies may have relatively limited operating histories and also may experience variation in operating results. Many of these companies conduct business in regulated industries and could be affected by changes in government regulations. Most of the Company’s borrowers will need additional capital to satisfy their continuing working capital needs and other requirements, and in many instances, to service the interest and principal payments on the loans.

The Company’s largest debt investments may vary from period to period as new debt investments are recorded and existing debt investments are repaid. The Company’s five largest debt investments at cost represented 22% and 23% of total debt investments outstanding as of September 30, 2024 and December 31, 2023, respectively. The Company’s five largest debt investments at fair value represented 23% and 22% of total debt investments outstanding as of September 30, 2024 and December 31, 2023, respectively. No single debt investment represented more than 10% of the total debt investments at cost or fair value as of September 30, 2024 and December 31, 2023. Investment income, consisting of interest and fees, can fluctuate significantly upon repayment of large debt investments. Interest income from the five largest debt investments at cost accounted for 21% and 24% of total interest and fee income on investments for the three months ended September 30, 2024 and 2023, respectively. Interest income from the five largest debt investments at fair value accounted for 25% and 22% of total interest and fee income on investments for the three months ended September 30, 2024 and 2023, respectively. Interest income from the five largest debt investments at cost accounted for 21% and 23% of total interest and fee income on investments for the nine months ended September 30, 2024 and 2023, respectively. Interest income from the five largest debt investments at fair value accounted for 23% and 21% of total interest and fee income on investments for the nine months ended September 30, 2024 and 2023, respectively.

Note 3 - Related Party Transactions (Tables)

9 Months Ended

Sep. 30, 2024

Expiration	*Total*
	(In thousands)
December 31, 2025	$	1,037
March 31, 2026		219
June 30, 2026		3,120
September 30, 2026		3,471
December 31, 2026		3,002
March 31, 2027		2,285
June 30, 2027		2,582
September 30, 2027		2,368
Total	$	18,084

Consolidated Schedule of Investments (Unaudited)

9 Months Ended

Sep. 30, 2024

Schedule of Investments [Text Block]

Consolidated Schedule of Investments (Unaudited)

September 30, 2024

(Dollars in thousands)

Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Cash Rate (4)*			*Index*	*Margin*			*Floor*			*Ceiling*			*ETP (10)*			*Maturity Date*	*Principal Amount*		*Cost of Investments (6)(9)*		*Fair Value (9)*
Non-Affiliate Investments — 191.6% (8)
Non-Affiliate Debt Investments — 182.9% (8)
Non-Affiliate Debt Investments — Life Science — 76.0% (8)
Castle Creek Biosciences, Inc. (2)(12)	Biotechnology	Term Loan		13.25	%	Prime		4.75	%		9.55	%		13.50	%		5.50	%	May 1, 2026	$	3,958	$	3,948	$	3,948
		Term Loan		13.25	%	Prime		4.75	%		9.55	%		13.50	%		5.50	%	May 1, 2026		3,958		3,948		3,948
		Term Loan		13.25	%	Prime		4.75	%		9.55	%		13.50	%		5.50	%	May 1, 2026		2,375		2,368		2,368
		Term Loan		13.25	%	Prime		4.75	%		9.55	%		13.50	%		5.50	%	May 1, 2026		3,958		3,948		3,948
		Term Loan		13.25	%	Prime		4.75	%		9.55	%		13.50	%		5.50	%	May 1, 2026		3,958		3,949		3,949
		Term Loan		13.25	%	Prime		4.75	%		9.55	%		13.50	%		5.50	%	May 1, 2026		2,375		2,369		2,369
Emalex Biosciences, Inc. (2)(12)	Biotechnology	Term Loan		12.72	%	Prime		4.72	%		9.75	%		—			5.00	%	November 1, 2025		5,000		4,970		4,970
		Term Loan		12.72	%	Prime		4.72	%		9.75	%		—			5.00	%	May 1, 2026		5,000		4,975		4,975
Greenlight Biosciences, Inc. (2)(12)	Biotechnology	Term Loan		13.75	%	Prime		5.75	%		9.00	%		—			3.00	%	July 1, 2025		1,667		1,624		1,624
		Term Loan		13.75	%	Prime		5.75	%		9.00	%		—			3.00	%	July 1, 2025		833		812		812
KSQ Therapeutics, Inc. (2)(12)	Biotechnology	Term Loan		12.75	%	Prime		4.75	%		8.50	%		—			5.50	%	May 1, 2027		6,250		6,215		6,215
		Term Loan		12.75	%	Prime		4.75	%		8.50	%		—			5.50	%	May 1, 2027		6,250		6,215		6,215
Native Microbials, Inc (2)(12)	Biotechnology	Term Loan		13.25	%	Prime		5.25	%		8.50	%		—			5.00	%	November 1, 2026		3,250		3,234		3,234
		Term Loan		13.25	%	Prime		5.25	%		8.50	%		—			5.00	%	November 1, 2026		2,167		2,156		2,156
PDS Biotechnology Corporation (2)(5)(12)	Biotechnology	Term Loan		13.75	%	Prime		5.75	%		9.75	%		—			3.75	%	September 1, 2026		10,000		9,950		9,950
		Term Loan		13.75	%	Prime		5.75	%		9.75	%		—			3.75	%	September 1, 2026		3,750		3,731		3,731
		Term Loan		13.75	%	Prime		5.75	%		9.75	%		—			3.75	%	September 1, 2026		3,750		3,731		3,731
Provivi, Inc. (2)(12)	Biotechnology	Term Loan		13.36	%	Prime		5.36	%		9.50	%		—			4.30	%	January 1, 2027		3,482		3,410		3,218
		Term Loan		13.36	%	Prime		5.36	%		9.50	%		—			4.30	%	January 1, 2027		3,482		3,410		3,218
		Term Loan		13.36	%	Prime		5.36	%		9.50	%		—			4.31	%	January 1, 2027		1,741		1,701		1,605
		Term Loan		13.36	%	Prime		5.36	%		9.50	%		—			4.31	%	January 1, 2027		1,741		1,701		1,605
		Term Loan		13.36	%	Prime		5.36	%		9.50	%		—			4.31	%	January 1, 2027		1,741		1,699		1,604
		Term Loan		13.36	%	Prime		5.36	%		9.50	%		—			4.31	%	January 1, 2027		1,741		1,699		1,604
Stealth Biotherapeutics Inc. (2)(12)	Biotechnology	Term Loan		13.50	%	Prime		5.50	%		8.75	%		—			6.00	%	October 1, 2025		2,631		2,598		2,598
		Term Loan		13.50	%	Prime		5.50	%		8.75	%		—			6.00	%	October 1, 2025		1,315		1,299		1,299
Tallac Therapeutics, Inc. (2)(12)	Biotechnology	Term Loan		12.25	%	Prime		4.25	%		12.25	%		—			4.00	%	August 1, 2027		2,500		2,468		2,468
		Term Loan		12.25	%	Prime		4.25	%		12.25	%		—			4.00	%	August 1, 2027		2,500		2,468		2,468
Aerobiotix, LLC (2)(12)	Medical Device	Term Loan		9.00	%	Fixed		—			—			—			18.00	%	April 1, 2028		2,500		2,477		2,205
		Term Loan		9.00	%	Fixed		—			—			—			18.00	%	April 1, 2028		2,500		2,477		2,205
		Term Loan		9.00	%	Fixed		—			—			—			18.00	%	April 1, 2028		200		188		168

See Notes to Consolidated Financial Statements

Consolidated Schedule of Investments (Unaudited)

September 30, 2024

(Dollars in thousands)

Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Cash Rate (4)*			*Index*	*Margin*			*Floor*			*Ceiling*		*ETP (10)*			*Maturity Date*	*Principal Amount*		*Cost of Investments (6)(9)*		*Fair Value (9)*
Candesant Biomedical, Inc. (2)(12)	Medical Device	Term Loan		11.50	%	Prime		3.50	%		11.50	%		—		5.00	%	September 1, 2027		5,000		4,777		4,777
		Term Loan		11.50	%	Prime		3.50	%		11.50	%		—		5.00	%	September 1, 2027		2,500		2,464		2,464
		Term Loan		11.50	%	Prime		3.50	%		11.50	%		—		5.00	%	September 1, 2027		2,500		2,464		2,464
Ceribell, Inc. (2)(12)	Medical Device	Term Loan		10.75	%	Prime		2.75	%		9.25	%		—		4.00	%	March 1, 2029		5,000		4,817		4,817
		Term Loan		10.75	%	Prime		2.75	%		9.25	%		—		4.00	%	March 1, 2029		5,000		4,938		4,938
		Term Loan		10.75	%	Prime		2.75	%		9.25	%		—		4.00	%	March 1, 2029		4,000		3,950		3,950
Cognoa, Inc. (2)(12)	Medical Device	Term Loan		13.50	%	Prime		5.50	%		8.75	%		—		6.00	%	August 1, 2026		3,611		3,584		3,356
		Term Loan		13.50	%	Prime		5.50	%		8.75	%		—		6.00	%	August 1, 2026		1,806		1,792		1,678
Conventus Orthopaedics, Inc. (2)(12)	Medical Device	Term Loan		12.82	%	Prime		4.82	%		9.25	%		—		10.36	%	July 1, 2025		3,477		3,448		3,448
		Term Loan		12.82	%	Prime		4.82	%		9.25	%		—		10.36	%	July 1, 2025		3,477		3,448		3,448
Infobionic, Inc. (2)(12)	Medical Device	Term Loan		13.00	%	Prime		4.50	%		12.00	%		—		2.00	%	September 1, 2029		5,000		4,916		4,916
		Term Loan		13.00	%	Prime		4.50	%		12.00	%		—		2.00	%	September 1, 2029		5,000		4,916		4,916
		Term Loan		13.00	%	Prime		4.50	%		12.00	%		—		2.00	%	September 1, 2029		5,000		4,916		4,916
MicroTransponder, Inc. (2)(12)	Medical Device	Term Loan		12.25	%	Prime		3.75	%		12.25	%		—		3.50	%	January 1, 2029		3,750		3,696		3,696
		Term Loan		12.25	%	Prime		3.75	%		12.25	%		—		3.50	%	January 1, 2029		3,750		3,696		3,696
Scientia Vascular, Inc. (2)(12)	Medical Device	Term Loan		13.25	%	Prime		4.75	%		8.50	%		—		5.00	%	January 1, 2027		3,750		3,734		3,734
		Term Loan		13.25	%	Prime		4.75	%		8.50	%		—		5.00	%	January 1, 2027		3,750		3,733		3,733
		Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		5.00	%	January 1, 2027		5,000		4,959		4,959
		Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		5.00	%	January 1, 2027		5,000		4,927		4,927
Sonex Health, Inc. (2)(12)	Medical Device	Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		8.00	%	September 1, 2027		2,500		2,479		2,479
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		8.00	%	September 1, 2027		2,500		2,479		2,479
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		8.00	%	September 1, 2027		5,000		4,957		4,957
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		8.00	%	September 1, 2027		5,000		4,957		4,957
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		8.00	%	April 1, 2028		3,750		3,711		3,711
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		8.00	%	April 1, 2028		3,750		3,711		3,711
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		8.00	%	April 1, 2028		3,750		3,711		3,711
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		8.00	%	April 1, 2028		3,750		3,711		3,711
Spineology, Inc. (2)(12)	Medical Device	Term Loan		13.00	%	Prime		5.00	%		12.00	%		—		1.00	%	August 1, 2029		5,000		4,911		4,911
		Term Loan		13.00	%	Prime		5.00	%		12.00	%		—		1.00	%	August 1, 2029		4,250		4,174		4,174
		Term Loan		13.00	%	Prime		5.00	%		12.00	%		—		1.00	%	August 1, 2029		4,250		4,174		4,174
		Term Loan		13.00	%	Prime		5.00	%		12.00	%		—		1.00	%	August 1, 2029		2,500		2,455		2,455
Swift Health Systems Inc. (2)(12)(14)	Medical Device	Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		5.00	%	July 1, 2027		3,500		3,510		3,509
		Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		5.00	%	July 1, 2027		3,500		3,475		3,474
		Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		5.00	%	July 1, 2027		3,500		3,469		3,468
		Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		5.00	%	July 1, 2027		3,500		3,469		3,468

See Notes to Consolidated Financial Statements

Consolidated Schedule of Investments (Unaudited)

September 30, 2024

(Dollars in thousands)

Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Cash Rate (4)*			*Index*	*Margin*			*Floor*			*Ceiling*		*ETP (10)*			*Maturity Date*	*Principal Amount*		*Cost of Investments (6)(9)*		*Fair Value (9)*
		Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		100.00	%	July 1, 2027		300		300		300
		Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		100.00	%	July 1, 2027		150		150		150
		Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		—		July 1, 2027		200		200		200
		Term Loan		13.25	%	Prime		5.25	%		9.00	%		—		—		July 1, 2027		350		350		350
Vero Biotech, Inc. (2)(12)	Medical Device	Term Loan		12.25	%	Prime		3.75	%		12.25	%		—		4.00	%	January 1, 2029		15,000		14,719		14,117
		Term Loan		12.25	%	Prime		3.75	%		12.25	%		—		4.00	%	January 1, 2029		10,000		9,813		9,411
		Term Loan		12.25	%	Prime		3.75	%		12.25	%		—		4.00	%	January 1, 2029		5,000		4,907		4,706
		Term Loan		12.25	%	Prime		3.75	%		12.25	%		—		4.00	%	January 1, 2029		2,500		2,453		2,353
Total Non-Affiliate Debt Investments — Life Science																						263,158		260,177
Non-Affiliate Debt Investments — Sustainability — 19.8% (8)
Pivot Bio, Inc.(2)(12)	Energy Efficiency	Term Loan		12.00	%	Prime		4.00	%		12.00	%		—		4.00	%	February 1, 2029		5,000		4,739		4,739
		Term Loan		12.00	%	Prime		4.00	%		12.00	%		—		4.00	%	February 1, 2029		5,000		4,948		4,948
New Aerofarms, Inc. assignee of Aerofarms, Inc. (2)(12)(15)	Other Sustainability	Term Loan		14.75	%	Prime		6.75	%		10.00	%		—		4.33	%	December 1, 2026		3,750		3,712		3,712
		Term Loan		14.75	%	Prime		6.75	%		10.00	%		—		4.33	%	December 1, 2026		3,750		3,712		3,712
Soli Organic, Inc. (2)(12)	Other Sustainability	Term Loan		14.75	%	Prime		6.75	%		10.00	%		—		2.75	%	April 1, 2026		5,000		4,937		4,937
		Term Loan		14.75	%	Prime		6.75	%		10.00	%		—		2.75	%	April 1, 2026		2,500		2,469		2,469
		Term Loan		14.75	%	Prime		6.75	%		10.00	%		—		2.75	%	May 1, 2026		5,000		4,938		4,938
		Term Loan		14.75	%	Prime		6.75	%		10.00	%		—		2.75	%	May 1, 2026		2,500		2,469		2,469
		Term Loan		13.50	%	Prime		5.50	%		11.75	%		—		2.75	%	December 1, 2026		5,000		4,946		4,946
		Term Loan		13.50	%	Prime		5.50	%		11.75	%		—		2.75	%	December 1, 2026		2,500		2,473		2,473
Temperpack Technologies, Inc. (2)(12)	Other Sustainability	Term Loan		14.75	%	Prime		6.75	%		10.00	%		—		2.50	%	April 1, 2028		3,750		3,703		3,703
		Term Loan		14.75	%	Prime		6.75	%		10.00	%		—		2.50	%	April 1, 2028		3,750		3,703		3,703
		Term Loan		14.75	%	Prime		6.75	%		10.00	%		—		2.50	%	April 1, 2028		7,500		7,400		7,400
		Term Loan		14.75	%	Prime		6.75	%		10.00	%		—		2.50	%	April 1, 2028		3,750		3,700		3,700
		Term Loan		14.75	%	Prime		6.75	%		10.00	%		—		2.50	%	April 1, 2028		3,750		3,700		3,700
		Term Loan		14.00	%	Prime		6.00	%		10.00	%		—		2.00	%	January 1, 2029		4,500		4,452		4,452
		Term Loan		14.00	%	Prime		6.00	%		10.00	%		—		2.00	%	January 1, 2029		2,000		1,979		1,979
Total Non-Affiliate Debt Investments — Sustainability																						67,980		67,980
Non-Affiliate Debt Investments — Technology — 56.7% (8)
Axiom Space, Inc. (2)(12)	Communications	Term Loan		14.50	%	Prime		6.00	%		9.25	%		—		2.50	%	June 1, 2026		4,375		4,354		4,354
		Term Loan		14.50	%	Prime		6.00	%		9.25	%		—		2.50	%	June 1, 2026		4,375		4,353		4,353
		Term Loan		14.50	%	Prime		6.00	%		9.25	%		—		2.50	%	June 1, 2026		4,375		4,353		4,353
CAMP NYC, Inc. (2)(12)	Consumer-related Technologies	Term Loan		15.25	%	Prime		7.25	%		10.50	%		—		3.00	%	March 1, 2027		2,033		1,980		1,922

See Notes to Consolidated Financial Statements

Consolidated Schedule of Investments (Unaudited)

September 30, 2024

(Dollars in thousands)

Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Cash Rate (4)*			*Index*	*Margin*			*Floor*			*Ceiling*		*ETP (10)*			*Maturity Date*	*Principal Amount*		*Cost of Investments (6)(9)*		*Fair Value (9)*
Clara Foods Co. (2)(12)	Consumer-related Technologies	Term Loan		14.25	%	Prime		5.75	%		9.00	%		—		5.50	%	August 1, 2025		833		828		828
		Term Loan		14.25	%	Prime		5.75	%		9.00	%		—		5.50	%	August 1, 2025		833		828		828
Havenly, Inc. (2)(12)	Consumer-related Technologies	Term Loan		13.00	%	Prime		5.00	%		5.00	%		—		10.40	%	March 1, 2027		2,000		1,467		1,467
		Term Loan		13.00	%	Prime		5.00	%		5.00	%		—		10.40	%	March 1, 2027		3,000		2,441		2,441
		Term Loan		11.50	%	Prime		3.50	%		10.50	%		—		7.78	%	February 1, 2028		2,813		2,813		2,813
		Term Loan		11.50	%	Prime		3.50	%		10.50	%		—		7.78	%	February 1, 2028		2,813		2,813		2,813
Lyrical Foods, Inc. (2)(12)	Consumer-related Technologies	Term Loan		11.50	% (11)	Prime		3.50	%		9.00	%		—		5.00	%	July 1, 2028		2,603		2,692		2,341
NextCar Holding Company, Inc. (2)(12)(13)	Consumer-related Technologies	Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—		5.25	%	October 31, 2023		5,908		5,489		3,256
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—		5.25	%	October 31, 2023		2,363		2,196		1,303
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—		5.25	%	October 31, 2023		2,954		2,745		1,628
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—		5.25	%	October 31, 2023		3,545		3,294		1,953
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—		5.25	%	October 31, 2023		2,954		2,745		1,628
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—		5.25	%	October 31, 2023		2,954		2,745		1,628
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—		5.25	%	October 31, 2023		5,908		5,489		3,255
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—		5.25	%	October 31, 2023		2,954		2,745		1,628
Optoro, Inc. (2)(12)	Consumer-related Technologies	Term Loan		14.75	%	Prime		6.25	%		9.50	%		—		4.00	%	August 1, 2027		2,500		2,440		2,440
		Term Loan		14.75	%	Prime		6.25	%		9.50	%		—		4.00	%	July 1, 2028		1,875		1,800		1,800
Standvast Holdings, LLC (2)(12)	Consumer-related Technologies	Term Loan		12.75	%	Prime		4.25	%		12.75	%		—		3.00	%	June 1, 2028		2,500		2,245		2,245
		Term Loan		12.75	%	Prime		4.25	%		12.75	%		—		3.00	%	June 1, 2028		2,500		2,421		2,421
Unagi, Inc. (2)(12)(13)	Consumer-related Technologies	Term Loan		15.75	% (11)	Prime		7.75	%		11.00	%		—		—		May 1, 2027		1,361		1,086		228
		Term Loan		15.75	% (11)	Prime		7.75	%		11.00	%		—		—		May 1, 2027		680		543		114
		Term Loan		15.75	% (11)	Prime		7.75	%		11.00	%		—		—		May 1, 2027		680		543		114
Fictiv, Inc. (2)(12)	Networking	Term Loan		11.25	%	Prime		3.25	%		10.00	%		—		4.00	%	April 1, 2029		5,000		4,703		4,703
		Term Loan		11.25	%	Prime		3.25	%		10.00	%		—		4.00	%	April 1, 2029		5,000		4,938		4,938
BriteCore Holdings, Inc. (2)(12)	Software	Term Loan		14.00	%	Prime		5.50	%		14.00	%		—		3.00	%	October 1, 2028		5,000		4,905		4,905
		Term Loan		14.00	%	Prime		5.50	%		14.00	%		—		3.00	%	October 1, 2028		2,500		2,471		2,471
		Term Loan		14.00	%	Prime		5.50	%		14.00	%		—		3.00	%	October 1, 2028		2,500		2,471		2,471
		Term Loan		14.00	%	Prime		5.50	%		14.00	%		—		3.00	%	October 1, 2028		2,500		2,471		2,471
		Term Loan		14.00	%	Prime		5.50	%		14.00	%		—		3.00	%	April 1, 2029		2,500		2,467		2,467
Dropoff, Inc. (2)(12)	Software	Term Loan		14.50	%	Prime		6.50	%		9.75	%		—		3.50	%	June 1, 2026		6,804		6,729		6,337
		Term Loan		14.50	%	Prime		6.50	%		9.75	%		—		3.50	%	June 1, 2026		6,280		6,211		5,849
		Term Loan		14.50	%	Prime		6.50	%		9.75	%		—		3.50	%	June 1, 2026		2,617		2,590		2,439

See Notes to Consolidated Financial Statements

Consolidated Schedule of Investments (Unaudited)

September 30, 2024

(Dollars in thousands)

Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Cash Rate (4)*			*Index*	*Margin*			*Floor*			*Ceiling*		*ETP (10)*			*Maturity Date*	*Principal Amount*		*Cost of Investments (6)(9)*		*Fair Value (9)*
Kodiak Robotics, Inc. (2)(12)	Software	Term Loan		13.50	%	Prime		5.50	%		10.25	%		—		4.00	%	April 1, 2026		10,000		9,946		9,946
		Term Loan		13.50	%	Prime		5.50	%		10.25	%		—		4.00	%	April 1, 2026		10,000		9,946		9,946
		Term Loan		13.50	%	Prime		5.50	%		10.25	%		—		4.00	%	April 1, 2026		5,000		4,973		4,973
		Term Loan		13.50	%	Prime		5.50	%		10.25	%		—		4.00	%	April 1, 2026		5,000		4,973		4,973
Lytics, Inc. (2)(12)	Software	Term Loan		14.50	%	Prime		6.00	%		14.25	%		—		5.00	%	November 1, 2026		2,500		2,479		2,479
		Term Loan		14.50	%	Prime		6.00	%		14.25	%		—		5.00	%	December 1, 2026		1,250		1,242		1,242
		Term Loan		14.50	%	Prime		6.00	%		14.25	%		—		5.00	%	April 1, 2027		1,000		996		996
Mirantis, Inc. (2)(12)	Software	Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2028		5,000		4,929		4,929
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2028		5,000		4,929		4,929
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2028		5,000		4,929		4,929
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2028		5,000		4,929		4,929
Noodle Partners, Inc. (2)(12)	Software	Term Loan		13.00	%	Prime		5.00	%		12.00	%		—		3.00	%	March 1, 2027		10,000		9,916		9,916
		Term Loan		13.00	%	Prime		5.00	%		12.00	%		—		3.00	%	March 1, 2027		5,000		4,958		4,958
		Term Loan		13.00	%	Prime		5.00	%		12.00	%		—		3.00	%	March 1, 2027		5,000		4,958		4,958
Reputation Institute, Inc. (2)(12)	Software	Term Loan		15.75	%	Prime		7.25	%		10.50	%		—		3.00	%	August 1, 2025		1,933		1,901		1,901
Supply Network Visibility Holdings LLC (2)(12)	Software	Term Loan		12.25	%	Prime		4.25	%		12.00	%		—		2.50	%	June 1, 2028		2,500		2,476		2,476
		Term Loan		12.25	%	Prime		4.25	%		12.00	%		—		2.50	%	June 1, 2028		3,500		3,491		3,491
		Term Loan		12.25	%	Prime		4.25	%		12.00	%		—		2.50	%	June 1, 2028		2,500		2,493		2,493
		Term Loan		12.25	%	Prime		4.25	%		12.00	%		—		2.50	%	June 1, 2028		1,500		1,496		1,496
		Term Loan		12.25	%	Prime		4.25	%		12.00	%		—		2.50	%	July 1, 2029		5,000		4,983		4,983
Viken Detection Corporation (2)(12)	Software	Term Loan		12.00	%	Prime		4.00	%		11.75	%		—		3.50	%	June 1, 2027		5,000		4,951		4,951
		Term Loan		12.00	%	Prime		4.00	%		11.75	%		—		3.50	%	June 1, 2027		2,500		2,476		2,476
		Term Loan		12.00	%	Prime		4.00	%		11.75	%		—		3.50	%	June 1, 2027		2,500		2,476		2,476
Total Non-Affiliate Debt Investments — Technology																						208,250		194,051
Non-Affiliate Debt Investments — Healthcare information and services — 30.4% (8)
Hound Labs Inc. (12)(13)	Diagnostics	Term Loan		14.00	%	Prime		6.00	%		9.25	%		—		3.50	%	June 1, 2026		1,607		1,577		1,034
		Term Loan		14.00	%	Prime		6.00	%		9.25	%		—		3.50	%	June 1, 2026		1,607		1,577		1,034
		Term Loan		14.00	%	Prime		6.00	%		9.25	%		—		3.50	%	June 1, 2026		3,214		3,151		2,068
		Term Loan		14.00	%	Fixed		—			—			—		50.00	%	March 1, 2025		300		300		197
		Term Loan		14.00	%	Fixed		—			—			—		100.00	%	March 1, 2025		250		250		164
Parse Biosciences, Inc. (2)(12)	Diagnostics	Term Loan		11.75	%	Prime		3.25	%		11.50	%		—		5.00	%	January 1, 2028		5,000		4,652		4,652
		Term Loan		11.75	%	Prime		3.25	%		11.50	%		—		5.00	%	January 1, 2028		5,000		4,903		4,903

See Notes to Consolidated Financial Statements

Consolidated Schedule of Investments (Unaudited)

September 30, 2024

(Dollars in thousands)

Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Cash Rate (4)*			*Index*	*Margin*			*Floor*			*Ceiling*		*ETP (10)*			*Maturity Date*	*Principal Amount*		*Cost of Investments (6)(9)*		*Fair Value (9)*
BrightInsight, Inc. (2)(12)	Software	Term Loan		14.00	%	Prime		5.50	%		9.50	%		—		3.00	%	August 1, 2027		7,000		6,814		6,814
		Term Loan		14.00	%	Prime		5.50	%		9.50	%		—		3.00	%	August 1, 2027		3,500		3,473		3,473
		Term Loan		14.00	%	Prime		5.50	%		9.50	%		—		3.00	%	August 1, 2027		3,500		3,473		3,473
		Term Loan		14.00	%	Prime		5.50	%		9.50	%		—		3.00	%	April 1, 2028		2,750		2,717		2,717
Elligo Health Research, Inc. (2)(12)	Software	Term Loan		11.75	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2027		10,000		9,783		9,783
		Term Loan		11.75	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2027		5,000		4,940		4,940
		Term Loan		11.75	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2027		5,000		4,940		4,940
		Term Loan		11.75	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2027		5,000		4,940		4,940
SafelyYou, Inc. (2)(12)	Software	Term Loan		11.25	%	Prime		3.25	%		11.00	%		—		5.00	%	June 1, 2027		5,000		4,791		4,791
		Term Loan		11.25	%	Prime		3.25	%		11.00	%		—		5.00	%	June 1, 2027		5,000		4,938		4,938
GT Medical Technologies, Inc. (2)(12)	Other Healthcare Services	Term Loan		11.25	%	Prime		3.25	%		11.25	%		—		4.00	%	October 1, 2029		3,750		3,592		3,592
		Term Loan		11.25	%	Prime		3.25	%		11.25	%		—		4.00	%	October 1, 2029		3,750		3,692		3,692
		Term Loan		11.25	%	Prime		3.25	%		11.25	%		—		4.00	%	October 1, 2029		7,500		7,384		7,384
Hometeam Technologies, Inc. (2)(12)	Other Healthcare Services	Term Loan		11.25	%	Prime		3.25	%		11.25	%		—		3.50	%	August 1, 2029		5,000		4,851		4,851
		Term Loan		11.25	%	Prime		3.25	%		11.25	%		—		3.50	%	August 1, 2029		5,000		4,951		4,951
		Term Loan		11.25	%	Prime		3.25	%		11.25	%		—		3.50	%	August 1, 2029		5,000		4,951		4,951
		Term Loan		11.25	%	Prime		3.25	%		11.25	%		—		3.50	%	August 1, 2029		5,000		4,951		4,951
		Term Loan		11.25	%	Prime		3.25	%		11.25	%		—		3.50	%	August 1, 2029		5,000		4,951		4,951
Total Non-Affiliate Debt Investments — Healthcare information and services																					$	106,542	$	104,184
*Total Non- Affiliate Debt Investments*																					$	645,930	$	626,392

					*Cost of*		*Fair*
Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Number of Shares*		*Investments (6)(9)*		*Value (9)*
Non-Affiliate Warrant Investments — 5.5% (8)
Non-Affiliate Warrants — Life Science — 1.5% (8)
Avalo Therapeutics, Inc. (2)(5)(12)	Biotechnology	Common Stock Warrant		117	$	311	$	—
Castle Creek Biosciences, Inc. (2)(12)	Biotechnology	Preferred Stock Warrant		7,404		214		169
Emalex Biosciences, Inc. (2)(12)	Biotechnology	Preferred Stock Warrant		110,402		176		127
Imunon, Inc. (2)(5)(12)	Biotechnology	Common Stock Warrant		19,671		64		—
KSQ Therapeutics, Inc. (2)(12)	Biotechnology	Preferred Stock Warrant		48,076		49		53
Mustang Bio, Inc. (2)(5)(12)	Biotechnology	Common Stock Warrant		16,611		146		—
Native Microbials, Inc (2)(12)	Biotechnology	Preferred Stock Warrant		103,679		64		58
PDS Biotechnology Corporation (2)(5)(12)	Biotechnology	Common Stock Warrant		299,848		160		316
Provivi, Inc. (2)(12)	Biotechnology	Common Stock Warrant		175,098		278		—
Provivi, Inc. (2)(12)	Biotechnology	Preferred Stock Warrant		709,981		312		222
Stealth Biotherapeutics Inc. (2)(12)	Biotechnology	Common Stock Warrant		318,181		265		110
Tallac Therapeutics, Inc. (2)(12)	Biotechnology	Preferred Stock Warrant		1,600,002		195		167
Xeris Pharmaceuticals, Inc. (2)(5)(12)	Biotechnology	Common Stock Warrant		126,000		73		64
AccuVein Inc. (2)(12)	Medical Device	Common Stock Warrant		271		7		—
Aerin Medical, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		1,818,183		66		1,048
Aerobiotix, LLC (2)(12)	Medical Device	Preferred Stock Warrant		8,800		48		9
Canary Medical Inc. (2)(12)	Medical Device	Preferred Stock Warrant		12,153		87		171
Candesant Biomedical, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		93,336		152		131
Ceribell, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		231,050		147		192
Cognoa, Inc. (2)(12)	Medical Device	Common Stock Warrant		30,585		—		—
Cognoa, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		4,635,992		162		13
Conventus Orthopaedics, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		9,313,541		256		197
CSA Medical, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		4,917,794		174		471
CVRx, Inc. (2)(5)(12)	Medical Device	Common Stock Warrant		47,410		76		50
Infobionic, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		5,361,130		231		169

See Notes to Consolidated Financial Statements

Consolidated Schedule of Investments (Unaudited)

September 30, 2024

(Dollars in thousands)

					*Cost of*		*Fair*
Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Number of Shares*		*Investments (6)(9)*		*Value (9)*
Magnolia Medical Technologies, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		809,931		194		304
Meditrina, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		233,993		83		29
MicroTransponder, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		103,172		48		48
Scientia Vascular, Inc (2)(12)	Medical Device	Preferred Stock Warrant		34,410		103		273
Sonex Health, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		2,637,133		275		262
VERO Biotech LLC (2)(12)	Medical Device	Preferred Stock Warrant		4,109		432		196
Spineology, Inc. (2)(12)	Medical Device	Common Stock Warrant		2,714,033		143		108
Spineology, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		2,255,155		16		27
Swift Health Systems Inc. (2)(12)	Medical Device	Preferred Stock Warrant		135,484		71		—
Total Non-Affiliate Warrants — Life Science						5,078		4,984
Non-Affiliate Warrants — Sustainability — 0.2% (8)
New Aerofarms, Inc. assignee of Aerofarms, Inc. (2)(12)(15)	Other Sustainability	Preferred Stock Warrant		400,000		82		69
LiquiGlide, Inc. (2)(12)	Other Sustainability	Preferred Stock Warrant		61,359		40		25
Soli Organic, Inc. (2)(12)	Other Sustainability	Common Stock Warrant		65		20		19
Soli Organic, Inc. (2)(12)	Other Sustainability	Preferred Stock Warrant		1,103		382		489
Temperpack Technologies, Inc. (2)(12)	Other Sustainability	Preferred Stock Warrant		49,693		178		91
Pivot Bio, Inc. (2)(12)	Energy Efficiency	Preferred Stock Warrant		210,418		14		14
Total Non-Affiliate Warrants — Sustainability						716		707
Non-Affiliate Warrants — Technology — 3.5% (8)
Axiom Space Holdings, Inc. (2)(12)	Communications	Common Stock Warrant		1,991		46		57
Intelepeer Holdings, Inc. (2)(12)	Communications	Preferred Stock Warrant		2,936,535		137		2,100
Alula Holdings, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		20,000		93		7
CAMP NYC, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		112,356		36		39
Clara Foods Co. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		46,745		30		121
Divergent Technologies, Inc. (2)(12)	Consumer-related Technologies	Common Stock Warrant		9,801		79		55
Divergent Technologies, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		53,264		454		622
Havenly, Inc. (2)(12)	Consumer-related Technologies	Common Stock Warrant		1,446,429		3,178		2,489
MyForest Foods Co. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		250		28		24
NextCar Holding Company, Inc. (2)(12)	Consumer-related Technologies	Common Stock Warrant		12,618		188		—
NextCar Holding Company, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		3,913,723		9		—
Optoro, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		11,550		181		144
Primary Kids, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		553,778		57		587
Quip NYC Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		6,191		325		—
Standvast Holdings, LLC (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		1,225,492		275		258
Unagi, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		171,081		29		—
Updater, Inc.(2)(12)	Consumer-related Technologies	Preferred Stock Warrant		108,333		34		26
CPG Beyond, Inc. (2)(12)	Data Storage	Preferred Stock Warrant		500,000		242		290
Silk, Inc. (2)(12)	Data Storage	Preferred Stock Warrant		394,110		175		119
Global Worldwide LLC (2)(12)	Internet and Media	Preferred Stock Warrant		245,810		75		—
Rocket Lawyer Incorporated (2)(12)	Internet and Media	Preferred Stock Warrant		261,721		92		313
Skillshare, Inc. (2)(12)	Internet and Media	Preferred Stock Warrant		139,074		162		671
Liqid, Inc. (2)(12)	Networking	Preferred Stock Warrant		344,102		364		103
Fictiv, Inc. (2)(12)	Networking	Common Stock Warrant		126,841		59		74
Halio, Inc. (2)(12)	Power Management	Common Stock Warrant		38,241,466		1,585		2,700
Avalanche Technology, Inc. (2)(12)	Semiconductors	Preferred Stock Warrant		5,938		45		—
BriteCore Holdings, Inc. (2)(12)	Software	Preferred Stock Warrant		161,215		98		254
Dropoff, Inc. (2)(12)	Software	Common Stock Warrant		516,732		455		90
E La Carte, Inc. (2)(5)(12)	Software	Common Stock Warrant		147,361		60		—
Everstream Holdings, LLC (2)(12)	Software	Preferred Stock Warrant		350,000		70		21
Kodiak Robotics, Inc. (2)(12)	Software	Preferred Stock Warrant		639,918		273		9
Lemongrass Holdings, Inc. (2)(12)	Software	Preferred Stock Warrant		101,308		34		83
Lotame Solutions, Inc. (2)(12)	Software	Preferred Stock Warrant		71,305		18		40
Lytics, Inc. (2)(12)	Software	Preferred Stock Warrant		85,543		43		—
Mirantis, Inc. (2)(12)	Software	Common Stock Warrant		948,275		223		240

See Notes to Consolidated Financial Statements

Consolidated Schedule of Investments (Unaudited)

September 30, 2024

(Dollars in thousands)

					*Cost of*		*Fair*
Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Number of Shares*		*Investments (6)(9)*		*Value (9)*
Noodle Partners, Inc. (2)(12)	Software	Preferred Stock Warrant		84,037		116		—
Reputation Institute, Inc. (2)(12)	Software	Preferred Stock Warrant		4,104		63		33
Revinate Holdings, Inc. (2)(12)	Software	Preferred Stock Warrant		682,034		44		90
SIGNiX, Inc. (12)	Software	Preferred Stock Warrant		186,235		225		—
Slingshot Aerospace, Inc. (2)(12)	Software	Preferred Stock Warrant		309,208		123		79
Supply Network Visibility Holdings LLC (2)(12)	Software	Preferred Stock Warrant		682		65		75
Topia Mobility, Inc. (2)(12)	Software	Preferred Stock Warrant		3,049,607		137		—
Viken Detection Corporation (2)(12)	Software	Preferred Stock Warrant		345,443		120		203
xAd, Inc. (2)(12)	Software	Preferred Stock Warrant		4,343,348		176		7
Total Non-Affiliate Warrants — Technology						10,321		12,023
Non-Affiliate Warrants — Healthcare information and services — 0.3% (8)
Hound Labs, Inc (12)	Diagnostics	Preferred Stock Warrant		451,796		45		—
Parse Biosciences, Inc. (2)(12)	Diagnostics	Common Stock Warrant		32,244		71		15
Parse Biosciences, Inc. (2)(12)	Diagnostics	Preferred Stock Warrant		184,253		166		47
Kate Farms, Inc. (2)(12)	Other Healthcare	Preferred Stock Warrant		82,965		103		777
GT Medical Technologies, Inc. (2)(12)	Other Healthcare	Preferred Stock Warrant		255,871		85		86
BrightInsight, Inc. (2)(12)	Software	Preferred Stock Warrant		85,066		167		—
Elligo Health Research, Inc. (2)(12)	Software	Preferred Stock Warrant		652,250		191		85
Medsphere Systems Corporation (2)(12)	Software	Preferred Stock Warrant		7,097,792		61		—
SafelyYou, Inc. (2)(12)	Software	Preferred Stock Warrant		150,353		163		11
*Total Non-Affiliate Warrants — Healthcare information and services*						1,052		1,021
*Total Non-Affiliate Warrants*						17,167		18,735
Non-Affiliate Other Investments — Life Science — 1.5% (8)
Lumithera, Inc. (12)	Medical Device	Royalty Agreement				1,147		100
Robin Healthcare, Inc. (2)(12)	Medical Device	Royalty Agreement				7,271		3,247
ZetrOZ, Inc. (12)	Medical Device	Royalty Agreement				—		—
*Total Non-Affiliate Other Investments*						8,418		3,347
Non-Affiliate Equity — 2.2% (8)
Cadrenal Therapeutics, Inc. (5)	Biotechnology	Common Stock		600,000		—		546
Castle Creek Biosciences, Inc. (12)	Biotechnology	Common Stock		1,162		250		250
Emalex Biosciences, Inc. (12)	Biotechnology	Common Stock		32,831		356		356
Axiom Space, Inc. (12)	Communications	Preferred Stock		1,810		261		306
PebblePost, Inc. (2)(12)	Communications	Preferred Stock		598,850		73		73
Caastle, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock		242,180		2,681		2,687
Getaround, Inc. (2)(5)	Consumer-related Technologies	Common Stock		87,082		253		5
NextCar Holding Company, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock		2,688,971		89		—
SnagAJob.com, Inc. (12)	Consumer-related Technologies	Common Stock		82,974		7		83
Lumithera, Inc. (12)	Medical Device	Common Stock		392,651		2,000		1,700
Tigo Energy, Inc. (5)	Other Sustainability	Common Stock		5,205		111		11
Decisyon, Inc. (12)	Software	Preferred Stock		280,000		2,800		1,281
Lotame, Inc. (12)	Software	Preferred Stock		66,127		5		190
*Total Non-Affiliate Equity*						8,886		7,488
*Total Non-Affiliate Portfolio Investment Assets*						$680,401		$655,962

See Notes to Consolidated Financial Statements

Consolidated Schedule of Investments (Unaudited)

September 30, 2024

(Dollars in thousands)

Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Cash Rate (4)*			*Index*	*Margin*			*Floor*			*Ceiling*		*ETP (10)*			*Maturity Date*	*Principal Amount*		*Cost of Investments (6)(9)*		*Fair Value (9)*
Non-Controlled Affiliate Investments — 2.4% (8)
Non-Controlled Affiliate Other Investments — 2.4% (8)
Evelo Holdings, Inc. (2)(5)(12)(17)	Biotechnology	Other Investment		12.25	% (11)	Prime		4.25	%		11.00	%		—		4.25	%	January 1, 2028	$	5,770	$	4,910	$	1,825
		Other Investment		12.25	% (11)	Prime		4.25	%		11.00	%		—		4.25	%	January 1, 2028		8,656		7,621		2,832
		Other Investment		12.25	% (11)	Prime		4.25	%		11.00	%		—		4.25	%	January 1, 2028		3,462		2,947		1,095
		Other Investment		12.25	% (11)	Prime		4.25	%		11.00	%		—		4.25	%	January 1, 2028		3,462		2,947		1,095
		Other Investment		12.25	% (11)	Prime		4.25	%		11.00	%		—		4.25	%	January 1, 2028		2,308		1,964		730
		Other Investment		12.25	% (11)	Prime		4.25	%		11.00	%		—		4.25	%	January 1, 2028		2,308		1,964		730
Total Non-Controlled Affiliate Other Investments																						22,353		8,307

					Cost of		Fair
Portfolio Company (1)(3)	Sector	Type of Investment (7)	Number of Shares		Investments (6)(9)		Value (9)
Non-controlled Affiliate Equity — 0.0% (8)
Aulea Medical, Inc. (12)	Medical Device	Common Stock		660,537	$	—	$	—
Evelo Holdings, Inc. (2)(5)(12)	Biotechnology	Common Stock		2,164,502		5,000		—
Total Non-Controlled Affiliate Equity						5,000		—
Non-controlled Affiliate Warrants — 0.0% (8)
Evelo Holdings, Inc. (2)(5)(12)	Biotechnology	Common Stock		23,196		125		—
Total Non-Controlled Affiliate Warrants						125		—
*Total Non-Controlled Affiliate Portfolio Investment Assets*					$	27,478	$	8,307

Portfolio Company (1)(3)	Sector	Type of Investment (7)	Cash Rate (4)			Index	Margin			Floor			Ceiling		ETP (10)			Maturity Date	Principal Amount		Cost of Investments (6)(9)		Fair Value (9)
Controlled Affiliate Investments — 5.7% (8)
Controlled Affiliate Debt Investments — 2.0% (8)
Better Place Forests Co. (12)	Consumer-related Technologies	Term Loan		12.00	% (11)	Prime		3.75	%		12.00	%		—		2.78	%	August 1, 2029	$	3,891	$	3,935	$	3,234
		Term Loan		12.00	% (11)	Prime		3.75	%		12.00	%		—		2.78	%	August 1, 2029		1,946		1,927		1,583
		Term Loan		12.00	% (11)	Prime		3.75	%		12.00	%		—		—		August 1, 2025		521		521		489
		Term Loan		12.00	% (11)	Prime		3.75	%		12.00	%		—		—		August 1, 2025		516		517		484
		Term Loan		12.00	% (11)	Prime		3.75	%		12.00	%		—		—		August 1, 2025		506		507		474
Nexii, Inc. (12)	Other Sustainability	Term Loan		10.00	%	Fixed		—			—			—		—		July 1, 2027		790		790		628
Total Controlled Affiliate Debt Investments																						8,197		6,892

					*Cost of*		*Fair*
Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Number of Shares*		*Investments (6)(9)*		*Value (9)*
Controlled Affiliate Equity — 1.9% (8)
Better Place Forests Co. (12)	Consumer-related Technologies	Common Stock		2,278,272		2,060		—
Better Place Forests Co. (12)	Consumer-related Technologies	Preferred Stock		5,350,142		2,500		—
Nexii, Inc. (2)(12)	Other Sustainability	Common Stock		108,320		3,297		3,309
Nexii, Inc. (2)(12)	Other Sustainability	Preferred Stock		542		3,419		3,240
Total Controlled Affiliate Equity						11,276		6,549
Controlled Affiliate Other Investments — 1.8% (8)
HIMV LLC (12)(16)	Biotechnology	Other Investment				5,880		6,290
Total Controlled Affiliate Other						5,880		6,290
*Total Controlled Affiliate Portfolio Investment Assets*					$	25,353	$	19,731
*Total Portfolio Investment Assets — 199.7% (8)*					$	733,232	$	684,000

Short Term Investments - Unrestricted Investments - 9.1% (8)
US Bank Money Market Deposit Account		31,080		31,080
Total Short Term Investments - Unrestricted Investments	$	31,080	$	31,080

Short Term Investments - Restricted Investments - 1.0% (8)
US Bank Money Market Deposit Account		3,266		3,266
Total Short Term Investments - Restricted Investments	$	3,266	$	3,266

See Notes to Consolidated Financial Statements

Consolidated Schedule of Investments (Unaudited)

September 30, 2024

(Dollars in thousands)

(1)	All investments of the Company are in entities which are organized under the laws of the United States and have a principal place of business in the United States, unless otherwise noted.

(2)

Has been pledged as collateral under the revolving credit facility (the “Key Facility”) with KeyBank National Association (“Key”), a credit facility (the “NYL Facility”) led by New York Life Insurance Company, a credit facility (the “Nuveen Facility”, together with the Key Facility and the NYL Facility, the “Credit Facilities”) led by Nuveen Alternatives Advisors LLC, and/or the term debt securitization in connection with which an affiliate of the Company made an offering of $100.0 million in aggregate principal amount of fixed rate asset-backed notes that were issued in conjunction with the $157.8 million securitization of secured loans the Company completed on November 9, 2022 (the “2022 Asset-Backed Notes”).

(3)

All non-affiliate investments are investments in which the Company owns less than 5% of the voting securities of the portfolio company. All non-controlled affiliate investments are investments in which the Company owns 5% or more of the voting securities of the portfolio company but not more than 25% of the voting securities of the portfolio company. All controlled affiliate investments are investments in which the Company owns more than 25% of the portfolio company’s outstanding voting securities or has the power to exercise control over management or policies of such portfolio company (including through a management agreement).

(4)

All interest is payable in cash due monthly in arrears, unless otherwise indicated, and applies only to the Company’s debt investments. Interest rate is the annual interest rate on the debt investment and does not include end-of-term payments (“ETPs”), and any additional fees related to the investments, such as deferred interest, commitment fees or prepayment fees. Debt investments are at variable rates for the term of the debt investment, unless otherwise indicated. For each debt investment, the current interest rate in effect as of September 30, 2024 is provided.

(5)	Portfolio company is a public company.

(6)	For debt investments, represents principal balance less unearned income.

(7)	Warrants, Equity and Other Investments are non-income producing.

(8)	Value as a percent of net assets.

(9)

The Company did not have any non-qualifying assets under Section 55(a) of the 1940 Act as of September 30, 2024. Under the 1940 Act, the Company may not acquire any non-qualifying assets unless, at the time the acquisition is made, qualifying assets represent at least 70% of the Company’s total assets.

(10)

ETPs are contractual fixed-interest payments due in cash at the maturity date of the applicable debt investment, including upon any prepayment, and are a fixed percentage of the original principal balance of the debt investments unless otherwise noted. Interest will accrue during the life of the debt investment on each ETP and will be recognized as non-cash income until it is actually paid. Therefore, a portion of the incentive fee the Company may pay its Advisor will be based on income that the Company has not yet received in cash.

(11)	Investment has a payment-in-kind (“PIK”) feature in which the accrued interest is added to the then-outstanding principal amount of the investment.

(12)	The fair value of the investment was valued using significant unobservable inputs.

(13)	Debt investment is on non-accrual status as of September 30, 2024.

(14)	Debt investment is on non-accrual status as of September 30, 2024 and interest payments received will be recognized as income on a cash basis.

(15)	On or about September 13, 2023, in connection with New Aerofarms, Inc.’s purchase of substantially all of the assets of Aerofarms, Inc.in a bankruptcy process, New Aerofarms, Inc. assumed all of the debt investments of the Company in Aerofarms, Inc.

(16)

By an Order of the Supreme Court of Nova Scotia made May 1, 2023, as amended and restated by an Order of the Court made May 5, 2023, IMV, Inc. (“IMV”) commenced proceedings (the “CCAA Proceedings”) under the Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended to seek creditor protection for IMV and on June 2, 2023, IMV obtained recognition of the CCAA Proceedings under Chapter 15 of the United States Bankruptcy Code in proceedings before the United States Bankruptcy Court for the District of Delaware. In September 2023, the Company, with its co-lender to IMV, credit-bid and acquired substantially all of the assets of IMV through HIMV LLC, an entity formed to acquire the assets of IMV. The assets of IMV were sold for (i) the right to receive certain payments, if any, in connection with the potential future development and licensing of the assets sold and (ii) equity in the buyer of such assets. HIMV LLC is 70% owned by the Company and 30% owned by a third-party co-lender.

(17)

The investment originally consisted of debt investments in Evelo Biosciences Inc. (“Evelo”). Evelo was a clinical stage life science company that was unable to raise additional capital to continue as a going concern and, through a series of transactions, Evelo became a subsidiary of Evelo Holdings, Inc. (“Evelo Holdings”) and Evelo Holdings assumed the indebtedness of Evelo to the Company. Evelo Holdings is not an operating company but holds certain contractual rights to contingent payments and owns equity in Evelo, as well as certain assets it seeks to sell. The Company has a first priority security interest in the assets of Evelo Holdings, so if any payments are received by Evelo Holdings or any of its equity holdings or other assets are sold, the Company will receive substantially all of the proceeds from the same, until such time, if ever, that all of the indebtedness is repaid. Accordingly, the Company characterizes this investment as an “Other Investment” rather than a “Debt Investment”.

See Notes to Consolidated Financial Statements

Consolidated Schedule of Investments

December 31, 2023

(Dollars in thousands)

Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Cash Rate (4)*			*Index*	*Margin*			*Floor*			*Ceiling*			*ETP (10)*			*Maturity Date*	*Principal Amount*		*Cost of Investments (6)(9)*		*Fair Value (9)*
Non-Affiliate Investments — 214.2% (8)
Non-Affiliate Debt Investments — 205.0% (8)
Non-Affiliate Debt Investments — Life Science — 75.6% (8)
Castle Creek Biosciences, Inc. (2)(12)	Biotechnology	Term Loan		13.25	%	Prime		4.75	%		9.55	%		13.50	%		5.50	%	May 1, 2026	$	5,000	$	4,979	$	4,979
		Term Loan		13.25	%	Prime		4.75	%		9.55	%		13.50	%		5.50	%	May 1, 2026		5,000		4,979		4,979
		Term Loan		13.25	%	Prime		4.75	%		9.55	%		13.50	%		5.50	%	May 1, 2026		3,000		2,987		2,987
		Term Loan		13.25	%	Prime		4.75	%		9.55	%		13.50	%		5.50	%	May 1, 2026		5,000		4,979		4,979
		Term Loan		13.25	%	Prime		4.75	%		9.55	%		13.50	%		5.50	%	May 1, 2026		5,000		4,979		4,979
		Term Loan		13.25	%	Prime		4.75	%		9.55	%		13.50	%		5.50	%	May 1, 2026		3,000		2,987		2,987
Emalex Biosciences, Inc. (2)(12)	Biotechnology	Term Loan		13.22	%	Prime		4.72	%		9.75	%		—			5.00	%	June 1, 2024		1,414		1,410		1,410
		Term Loan		13.22	%	Prime		4.72	%		9.75	%		—			5.00	%	June 1, 2024		1,414		1,410		1,410
		Term Loan		13.22	%	Prime		4.72	%		9.75	%		—			5.00	%	November 1, 2025		5,000		4,950		4,950
		Term Loan		13.22	%	Prime		4.72	%		9.75	%		—			5.00	%	May 1, 2026		5,000		4,949		4,949
Greenlight Biosciences, Inc. (2)(12)	Biotechnology	Term Loan		14.25	%	Prime		5.75	%		9.00	%		—			3.00	%	July 1, 2025		3,000		2,914		2,870
		Term Loan		14.25	%	Prime		5.75	%		9.00	%		—			3.00	%	July 1, 2025		1,500		1,458		1,436
KSQ Therapeutics, Inc. (2)(12)	Biotechnology	Term Loan		13.25	%	Prime		4.75	%		8.50	%		—			5.50	%	May 1, 2027		6,250		6,199		6,199
		Term Loan		13.25	%	Prime		4.75	%		8.50	%		—			5.50	%	May 1, 2027		6,250		6,199		6,199
Native Microbials, Inc (2)(12)	Biotechnology	Term Loan		13.75	%	Prime		5.25	%		8.50	%		—			5.00	%	November 1, 2026		3,750		3,716		3,716
		Term Loan		13.75	%	Prime		5.25	%		8.50	%		—			5.00	%	November 1, 2026		2,500		2,478		2,478
PDS Biotechnology Corporation (2)(5)(12)	Biotechnology	Term Loan		14.25	%	Prime		5.75	%		9.75	%		—			3.75	%	September 1, 2026		10,000		9,911		9,911
		Term Loan		14.25	%	Prime		5.75	%		9.75	%		—			3.75	%	September 1, 2026		3,750		3,717		3,717
		Term Loan		14.25	%	Prime		5.75	%		9.75	%		—			3.75	%	September 1, 2026		3,750		3,717		3,717
Provivi, Inc. (2)(12)	Biotechnology	Term Loan		13.86	%	Prime		5.36	%		9.50	%		—			5.50	%	December 1, 2024		4,666		4,579		4,414
		Term Loan		13.86	%	Prime		5.36	%		9.50	%		—			5.50	%	December 1, 2024		4,666		4,579		4,414
		Term Loan		13.86	%	Prime		5.36	%		9.50	%		—			5.50	%	December 1, 2024		2,333		2,281		2,199
		Term Loan		13.86	%	Prime		5.36	%		9.50	%		—			5.50	%	December 1, 2024		2,333		2,281		2,199
		Term Loan		13.86	%	Prime		5.36	%		9.50	%		—			5.50	%	December 1, 2024		2,333		2,278		2,196
		Term Loan		13.86	%	Prime		5.36	%		9.50	%		—			5.50	%	December 1, 2024		2,333		2,278		2,196
Stealth Biotherapeutics Inc. (2)(12)	Biotechnology	Term Loan		14.00	%	Prime		5.50	%		8.75	%		—			6.00	%	October 1, 2025		4,250		4,193		4,193
		Term Loan		14.00	%	Prime		5.50	%		8.75	%		—			6.00	%	October 1, 2025				2,096		2,096
Tallac Therapeutics, Inc. (2)(12)	Biotechnology	Term Loan		12.75	%	Prime		4.25	%		12.25	%		—			4.00	%	August 1, 2027		2,500		2,230		2,230
		Term Loan		12.75	%	Prime		4.25	%		12.25	%		—			4.00	%	August 1, 2027		2,500		2,459		2,459
Aerobiotix, LLC (2)(12)	Medical Device	Term Loan		9.00	%	Fixed		—			—			—			18.00	%	April 1, 2028		2,500		2,468		2,342
		Term Loan		9.00	%	Fixed		—			—			—			18.00	%	April 1, 2028		2,500		2,468		2,342
		Term Loan		9.00	%	Fixed		—			—			—			18.00	%	June 30, 2024		200		200		190
Candesant Biomedical, Inc. (2)(12)	Medical Device	Term Loan		12.00	%	Prime		3.50	%		11.50	%		—			5.00	%	September 1, 2027		5,000		4,757		4,757
		Term Loan		12.00	%	Prime		3.50	%		11.50	%		—			5.00	%	September 1, 2027		2,500		2,454		2,454
		Term Loan		12.00	%	Prime		3.50	%		11.50	%		—			5.00	%	September 1, 2027		2,500		2,454		2,454
Ceribell, Inc. (2)(12)	Medical Device	Term Loan		12.00	%	Prime		3.50	%		8.25	%		—			5.50	%	October 1, 2024		3,750		3,738		3,738
		Term Loan		12.00	%	Prime		3.50	%		8.25	%		—			5.50	%	October 1, 2024		3,750		3,738		3,738
		Term Loan		12.00	%	Prime		3.50	%		8.25	%		—			5.50	%	October 1, 2024		1,875		1,866		1,866
		Term Loan		12.00	%	Prime		3.50	%		8.25	%		—			5.50	%	October 1, 2024		1,875		1,866		1,866
Cognoa, Inc. (2)(12)	Medical Device	Term Loan		14.00	%	Prime		5.50	%		8.75	%		—			6.00	%	August 1, 2026		4,583		4,546		4,546
		Term Loan		14.00	%	Prime		5.50	%		8.75	%		—			6.00	%	August 1, 2026		2,292		2,273		2,273
Conventus Orthopaedics, Inc. (2)(12)	Medical Device	Term Loan		13.32	%	Prime		4.82	%		9.25	%		—			10.36	%	July 1, 2025		3,960		3,923		3,923
		Term Loan		13.32	%	Prime		4.82	%		9.25	%		—			10.36	%	July 1, 2025		3,960		3,923		3,923
CSA Medical, Inc. (2)(12)	Medical Device	Term Loan		13.59	%	Prime		5.09	%		10.00	%		—			5.00	%	January 1, 2024		500		500		500
		Term Loan		13.59	%	Prime		5.09	%		10.00	%		—			5.00	%	January 1, 2024		33		33		33
		Term Loan		13.59	%	Prime		5.09	%		10.00	%		—			5.00	%	March 1, 2024		800		794		794
MicroTransponder, Inc. (2)(12)	Medical Device	Term Loan		12.25	%	Prime		3.75	%		12.25	%		—			3.50	%	January 1, 2029		3,750		3,689		3,689
		Term Loan		12.25	%	Prime		3.75	%		12.25	%		—			3.50	%	January 1, 2029		3,750		3,689		3,689

See Notes to Consolidated Financial Statements

Consolidated Schedule of Investments

December 31, 2023

(Dollars in thousands)

Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Cash Rate (4)*			*Index*	*Margin*			*Floor*			*Ceiling*		*ETP (10)*			*Maturity Date*	*Principal Amount*		*Cost of Investments (6)(9)*		*Fair Value (9)*
Robin Healthcare, Inc. (2)(12)(13)	Medical Device	Term Loan		14.00	%	Prime		5.50	%		10.25	%		—		4.00	%	November 1, 2026		3,500		3,469		1,574
		Term Loan		14.00	%	Prime		5.50	%		10.25	%		—		4.00	%	November 1, 2026		3,500		3,563		1,617
Scientia Vascular, Inc. (2)(12)	Medical Device	Term Loan		13.25	%	Prime		4.75	%		8.50	%		—		5.00	%	January 1, 2027		3,750		3,722		3,722
		Term Loan		13.25	%	Prime		4.75	%		8.50	%		—		5.00	%	January 1, 2027		3,750		3,722		3,722
		Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		5.00	%	January 1, 2027		5,000		4,943		4,943
		Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		5.00	%	January 1, 2027		5,000		4,900		4,900
Sonex Health, Inc. (2)(12)	Medical Device	Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		8.00	%	September 1, 2027		2,500		2,297		2,297
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		8.00	%	September 1, 2027		2,500		2,473		2,473
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		8.00	%	September 1, 2027		5,000		4,946		4,946
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		8.00	%	September 1, 2027		5,000		4,946		4,946
Spineology, Inc. (2)(12)	Medical Device	Term Loan		15.50	%	Prime		7.00	%		10.25	%		—		1.00	%	October 1, 2025		5,000		4,978		4,978
		Term Loan		15.50	%	Prime		7.00	%		10.25	%		—		1.00	%	April 1, 2026		2,500		2,489		2,489
Swift Health Systems Inc. (2)(12)	Medical Device	Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		5.00	%	July 1, 2027		3,500		3,467		3,467
		Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		5.00	%	July 1, 2027		3,500		3,467		3,467
		Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		5.00	%	July 1, 2027		3,500		3,456		3,456
		Term Loan		13.75	%	Prime		5.25	%		9.00	%		—		5.00	%	July 1, 2027		3,500		3,456		3,456
Vero Biotech, Inc. (2)(12)	Medical Device	Term Loan		12.25	%	Prime		3.75	%		12.25	%		—		4.00	%	January 1, 2029		15,000		14,675		14,675
		Term Loan		12.25	%	Prime		3.75	%		12.25	%		—		4.00	%	January 1, 2029		10,000		9,784		9,784
		Term Loan		12.25	%	Prime		3.75	%		12.25	%		—		4.00	%	January 1, 2029		5,000		4,892		4,892
		Term Loan		12.25	%	Prime		3.75	%		12.25	%		—		4.00	%	January 1, 2029		2,500		2,446		2,446
Total Non-Affiliate Debt Investments — Life Science																						249,642		244,815
Non-Affiliate Debt Investments — Sustainability — 24.6% (8)
New Aerofarms, Inc. assignee of Aerofarms, Inc. (2)(12)(15)	Other Sustainability	Term Loan		15.25	%	Prime		6.75	%		10.00	%		—		4.33	%	December 1, 2026		3,750		3,685		3,685
		Term Loan		15.25	%	Prime		6.75	%		10.00	%		—		4.33	%	December 1, 2026		3,750		3,685		3,685
Nexii Building Solutions, Inc. (2)(12)(13)(14)(18)	Other Sustainability	Term Loan		15.50	% (11)	Prime		7.00	%		10.25	%		—		2.50	%	March 31, 2024		8,425		8,353		4,549
		Term Loan		15.50	% (11)	Prime		7.00	%		10.25	%		—		2.50	%	March 31, 2024		8,425		8,229		4,481
		Term Loan		15.50	% (11)	Prime		7.00	%		10.25	%		—		2.50	%	March 31, 2024		8,425		8,229		4,481
		Term Loan		15.50	% (11)	Prime		7.00	%		10.25	%		—		2.50	%	March 31, 2024		5,617		5,480		2,984
		Term Loan		15.50	% (11)	Prime		7.00	%		10.25	%		—		2.50	%	March 31, 2024		5,617		5,480		2,984
		Term Loan		15.50	% (11)	Prime		7.00	%		10.25	%		—		—		March 31, 2024		735		726		395
		Term Loan		15.50	% (11)	Prime		7.00	%		10.25	%		—		—		March 31, 2024		586		578		315
		Term Loan		15.50	% (11)	Prime		7.00	%		10.25	%		—		—		March 31, 2024		292		288		157
		Term Loan		15.50	% (11)	Prime		7.00	%		10.25	%		—		—		March 31, 2024		290		286		156
		Term Loan		15.50	% (11)	Prime		7.00	%		10.25	%		—		—		March 31, 2024		174		172		93
		Term Loan		15.50	% (11)	Prime		7.00	%		10.25	%		—		—		March 31, 2024		802		791		431
		Term Loan		15.50	% (11)	Prime		7.00	%		10.25	%		—		—		March 31, 2024		1,091		1,083		590
Soli Organic, Inc. (2)(12)	Other Sustainability	Term Loan		15.25	%	Prime		6.75	%		10.00	%		—		2.75	%	April 1, 2026		5,000		4,959		4,959
		Term Loan		15.25	%	Prime		6.75	%		10.00	%		—		2.75	%	April 1, 2026		2,500		2,479		2,479
		Term Loan		15.25	%	Prime		6.75	%		10.00	%		—		2.75	%	May 1, 2026		5,000		4,956		4,956
		Term Loan		15.25	%	Prime		6.75	%		10.00	%		—		2.75	%	May 1, 2026		2,500		2,478		2,478
		Term Loan		14.00	%	Prime		5.50	%		11.75	%		—		2.75	%	December 1, 2026		5,000		4,934		4,934
		Term Loan		14.00	%	Prime		5.50	%		11.75	%		—		2.75	%	December 1, 2026		2,500		2,467		2,467
Temperpack Technologies, Inc. (2)(12)	Other Sustainability	Term Loan		15.25	%	Prime		6.75	%		10.00	%		—		2.50	%	April 1, 2028		3,750		3,694		3,694
		Term Loan		15.25	%	Prime		6.75	%		10.00	%		—		2.50	%	April 1, 2028		3,750		3,694		3,694
		Term Loan		15.25	%	Prime		6.75	%		10.00	%		—		2.50	%	April 1, 2028		7,500		7,379		7,379
		Term Loan		15.25	%	Prime		6.75	%		10.00	%		—		2.50	%	April 1, 2028		3,750		3,690		3,690
		Term Loan		15.25	%	Prime		6.75	%		10.00	%		—		2.50	%	April 1, 2028		3,750		3,690		3,690
		Term Loan		14.50	%	Prime		6.00	%		10.00	%		—		2.00	%	January 1,2029		4,500		4,446		4,446
		Term Loan		14.50	%	Prime		6.00	%		10.00	%		—		2.00	%	January 1,2029		2,000		1,976		1,976
Total Non-Affiliate Debt Investments — Sustainability																						97,907		79,828

See Notes to Consolidated Financial Statements

Consolidated Schedule of Investments

December 31, 2023

(Dollars in thousands)

Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Cash Rate (4)*			*Index*	*Margin*			*Floor*			*Ceiling*			*ETP (10)*			*Maturity Date*	*Principal Amount*		*Cost of Investments (6)(9)*		*Fair Value (9)*
Non-Affiliate Debt Investments — Technology — 83.3% (8)
Axiom Space, Inc. (2)(12)	Communications	Term Loan		14.50	%	Prime		6.00	%		9.25	%		—			2.50	%	June 1, 2026		6,250		6,218		6,218
		Term Loan		14.50	%	Prime		6.00	%		9.25	%		—			2.50	%	June 1, 2026		6,250		6,218		6,218
		Term Loan		14.50	%	Prime		6.00	%		9.25	%		—			2.50	%	June 1, 2026		6,250		6,218		6,218
CAMP NYC, Inc. (2)(12)	Consumer-related Technologies	Term Loan		15.75	%	Prime		7.25	%		10.50	%		—			3.00	%	May 1, 2026		3,383		3,356		3,356
Clara Foods Co. (2)(12)	Consumer-related Technologies	Term Loan		14.25	%	Prime		5.75	%		9.00	%		—			5.50	%	August 1, 2025		1,667		1,656		1,656
		Term Loan		14.25	%	Prime		5.75	%		9.00	%		—			5.50	%	August 1, 2025		1,583		1,573		1,573
Divergent Technologies, Inc. (2)(12)	Consumer-related Technologies	Term Loan		11.25	%	Prime		6.00	%		9.50	%		11.25	%		3.00	%	July 1, 2027		3,750		3,608		3,608
		Term Loan		11.25	%	Prime		6.00	%		9.50	%		11.25	%		3.00	%	July 1, 2027		1,250		1,242		1,242
		Term Loan		11.25	%	Prime		6.00	%		9.50	%		11.25	%		3.00	%	July 1, 2027		3,750		3,726		3,726
		Term Loan		11.25	%	Prime		6.00	%		9.50	%		11.25	%		3.00	%	July 1, 2027		1,250		1,242		1,242
		Term Loan		11.25	%	Prime		6.00	%		9.50	%		11.25	%		3.00	%	July 1, 2027		3,750		3,726		3,726
		Term Loan		11.25	%	Prime		6.00	%		9.50	%		11.25	%		3.00	%	July 1, 2027		1,250		1,242		1,242
		Term Loan		11.25	%	Prime		6.00	%		9.50	%		11.25	%		3.00	%	January 1, 2028		3,750		3,712		3,712
		Term Loan		11.25	%	Prime		6.00	%		9.50	%		11.25	%		3.00	%	January 1, 2028		3,750		3,712		3,712
		Term Loan		11.25	%	Prime		6.00	%		9.50	%		11.25	%		3.00	%	April 1, 2028		3,750		3,706		3,706
		Term Loan		11.25	%	Prime		6.00	%		9.50	%		11.25	%		3.00	%	July 1, 2028		3,750		3,707		3,707
		Term Loan		11.25	%	Prime		6.00	%		9.50	%		11.25	%		3.00	%	July 1, 2028		3,750		3,707		3,707
Havenly, Inc. (2)(12)	Consumer-related Technologies	Term Loan		13.50	%	Prime		5.00	%		5.00	%		—			4.00	%	March 1, 2027		2,000		1,421		1,421
		Term Loan		13.50	%	Prime		5.00	%		5.00	%		—			4.00	%	March 1, 2027		3,000		2,131		2,131
		Term Loan		12.00	%	Prime		3.50	%		10.50	%		—			7.78	%	February 1, 2028		2,813		2,813		2,813
		Term Loan		12.00	%	Prime		3.50	%		10.50	%		—			7.78	%	February 1, 2028		2,813		2,813		2,813
Lyrical Foods, Inc. (2)(12)	Consumer-related Technologies	Term Loan		12.00	%	Prime		3.50	%		9.00	%		—			1.00	%	September 1, 2027		2,500		2,591		2,429
MyForest Foods Co. (2)(12)	Consumer-related Technologies	Term Loan		15.25	%	Prime		6.75	%		10.00	%		—			3.00	%	October 1, 2025		3,667		3,647		3,647
		Term Loan		15.25	%	Prime		6.75	%		10.00	%		—			3.00	%	October 1, 2025		1,833		1,824		1,824
NextCar Holding Company, Inc. (2)(12)	Consumer-related Technologies	Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—			5.25	%	October 31, 2023		5,752		5,752		5,018
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—			5.25	%	October 31, 2023		2,301		2,301		2,007
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—			5.25	%	October 31, 2023		2,876		2,876		2,509
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—			5.25	%	October 31, 2023		3,451		3,451		3,011
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—			5.25	%	October 31, 2023		2,876		2,876		2,510
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—			5.25	%	October 31, 2023		2,876		2,876		2,510
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—			5.25	%	October 31, 2023		5,752		5,752		5,018
		Term Loan		14.25	% (11)	Prime		5.75	%		9.00	%		—			5.25	%	October 31, 2023		2,876		2,876		2,510
Optoro, Inc. (2)(12)	Consumer-related Technologies	Term Loan		14.75	%	Prime		6.25	%		9.50	%		—			4.00	%	August 1, 2027		2,500		2,416		2,416
		Term Loan		14.75	%	Prime		6.25	%		9.50	%		—			4.00	%	July 1, 2028		1,875		1,787		1,787
Unagi, Inc. (2)(12)(13)	Consumer-related Technologies	Term Loan		16.25	% (11)	Prime		7.75	%		11.00	%		—			—		May 1, 2027		1,204		1,086		872
		Term Loan		16.25	% (11)	Prime		7.75	%		11.00	%		—			—		May 1, 2027		602		543		436
		Term Loan		16.25	% (11)	Prime		7.75	%		11.00	%		—			—		May 1, 2027		602		543		436
Liqid, Inc. (2)(12)	Networking	Term Loan		14.75	%	Prime		6.25	%		9.50	%		—			4.00	%	September 1, 2024		1,500		1,481		1,481
		Term Loan		14.75	%	Prime		6.25	%		9.50	%		—			4.00	%	September 1, 2024		1,500		1,481		1,481
		Term Loan		14.75	%	Prime		6.25	%		9.50	%		—			4.00	%	September 1, 2024		750		740		740
		Term Loan		14.75	%	Prime		6.25	%		9.50	%		—			4.00	%	September 1, 2024		667		656		656
		Term Loan		14.75	%	Prime		6.25	%		9.50	%		—			4.00	%	September 1, 2024		750		729		729
BriteCore Holdings, Inc. (2)(12)	Software	Term Loan		14.00	%	Prime		5.50	%		14.00	%		—			3.00	%	October 1, 2028		5,000		4,860		4,860
		Term Loan		14.00	%	Prime		5.50	%		14.00	%		—			3.00	%	October 1, 2028		2,500		2,466		2,466
		Term Loan		14.00	%	Prime		5.50	%		14.00	%		—			3.00	%	October 1, 2028		2,500		2,466		2,466
		Term Loan		14.00	%	Prime		5.50	%		14.00	%		—			3.00	%	October 1, 2028		2,500		2,466		2,466

See Notes to Consolidated Financial Statements

Consolidated Schedule of Investments

December 31, 2023

(Dollars in thousands)

Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Cash Rate (4)*			*Index*	*Margin*			*Floor*			*Ceiling*		*ETP (10)*			*Maturity Date*	*Principal Amount*		*Cost of Investments (6)(9)*		*Fair Value (9)*
Dropoff, Inc. (2)(12)	Software	Term Loan		15.00	% (19)	Prime		6.50	%		9.75	%		—		3.50	%	April 1, 2026		6,625		6,519		6,176
		Term Loan		15.00	% (19)	Prime		6.50	%		9.75	%		—		3.50	%	April 1, 2026		6,116		6,018		5,701
		Term Loan		15.00	% (19)	Prime		6.50	%		9.75	%		—		3.50	%	August 1, 2026		2,548		2,507		2,375
Engage3, LLC (2)(12)	Software	Term Loan		14.75	%	Prime		6.25	%		9.75	%		—		4.50	%	July 1, 2027		3,750		3,728		3,728
		Term Loan		14.75	%	Prime		6.25	%		9.75	%		—		4.50	%	July 1, 2027		3,750		3,728		3,728
Kodiak Robotics, Inc. (2)(12)	Software	Term Loan		14.00	%	Prime		5.50	%		10.25	%		—		4.00	%	April 1, 2026		10,000		9,895		9,895
		Term Loan		14.00	%	Prime		5.50	%		10.25	%		—		4.00	%	April 1, 2026		10,000		9,895		9,895
		Term Loan		14.00	%	Prime		5.50	%		10.25	%		—		4.00	%	April 1, 2026		5,000		4,947		4,947
		Term Loan		14.00	%	Prime		5.50	%		10.25	%		—		4.00	%	April 1, 2026		5,000		4,947		4,947
Lemongrass Holdings, Inc. (2)(12)	Software	Term Loan		15.00	%	Prime		6.50	%		9.75	%		—		2.50	%	March 1, 2026		5,000		4,971		4,971
		Term Loan		15.00	%	Prime		6.50	%		9.75	%		—		2.50	%	March 1, 2026		2,500		2,486		2,486
Lytics, Inc. (2)(12)	Software	Term Loan		14.50	%	Prime		6.00	%		14.25	%		—		4.00	%	November 1, 2026		2,500		2,471		2,373
		Term Loan		14.50	%	Prime		6.00	%		14.25	%		—		4.00	%	December 1, 2026		1,250		1,237		1,188
		Term Loan		14.50	%	Prime		6.00	%		14.25	%		—		4.00	%	April 1, 2027		1,000		994		954
Mirantis, Inc. (2)(12)	Software	Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2028		5,000		4,779		4,779
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2028		5,000		4,915		4,915
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2028		5,000		4,915		4,915
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2028		5,000		4,915		4,915
Noodle Partners, Inc. (2)(12)	Software	Term Loan		13.50	%	Prime		5.00	%		12.00	%		—		3.00	%	March 1, 2027		10,000		9,885		9,885
		Term Loan		13.50	%	Prime		5.00	%		12.00	%		—		3.00	%	March 1, 2027		5,000		4,942		4,942
		Term Loan		13.50	%	Prime		5.00	%		12.00	%		—		3.00	%	March 1, 2027		5,000		4,942		4,942
Reputation Institute, Inc. (2)(12)	Software	Term Loan		15.75	%	Prime		7.25	%		10.50	%		—		3.00	%	August 1, 2025		3,667		3,625		3,625
Slingshot Aerospace, Inc. (2)(12)	Software	Term Loan		14.25	%	Prime		5.75	%		9.75	%		—		5.00	%	August 1, 2026		5,000		4,959		4,959
		Term Loan		14.25	%	Prime		5.75	%		9.75	%		—		5.00	%	August 1, 2026		5,000		4,959		4,959
		Term Loan		14.25	%	Prime		5.75	%		9.75	%		—		5.00	%	August 1, 2026		5,000		4,959		4,959
		Term Loan		14.25	%	Prime		5.75	%		9.75	%		—		5.00	%	August 1, 2026		5,000		4,959		4,959
Supply Network Visibility Holdings LLC (2)(12)	Software	Term Loan		12.75	%	Prime		4.25	%		12.00	%		—		2.50	%	June 1, 2028		2,500		2,457		2,457
		Term Loan		12.75	%	Prime		4.25	%		12.00	%		—		2.50	%	June 1, 2028		3,500		3,489		3,489
		Term Loan		12.75	%	Prime		4.25	%		12.00	%		—		2.50	%	June 1, 2028		2,500		2,492		2,492
		Term Loan		12.75	%	Prime		4.25	%		12.00	%		—		2.50	%	June 1, 2028		1,500		1,495		1,495
Viken Detection Corporation (2)(12)	Software	Term Loan		12.50	%	Prime		4.00	%		11.75	%		—		3.50	%	June 1, 2027		5,000		4,773		4,773
		Term Loan		12.50	%	Prime		4.00	%		11.75	%		—		3.50	%	June 1, 2027		2,500		2,467		2,467
		Term Loan		12.50	%	Prime		4.00	%		11.75	%		—		3.50	%	June 1, 2027		2,500		2,467		2,467
Total Non-Affiliate Debt Investments — Technology																						275,026		269,790
Non-Affiliate Debt Investments — Healthcare information and services — 21.5% (8)
Hound Labs inc. (2) (12)	Diagnostics	Term Loan		14.50	%	Prime		6.00	%		9.25	%		—		3.50	%	June 1, 2026		2,500		2,484		2,484
		Term Loan		14.50	%	Prime		6.00	%		9.25	%		—		3.50	%	June 1, 2026		2,500		2,484		2,484
		Term Loan		14.50	%	Prime		6.00	%		9.25	%		—		3.50	%	June 1, 2026		5,000		4,968		4,968
Parse Biosciences, Inc. (2)(12)	Diagnostics	Term Loan		11.75	%	Prime		3.25	%		11.50	%		—		5.00	%	January 1, 2028		5,000		4,633		4,633
		Term Loan		11.75	%	Prime		3.25	%		11.50	%		—		5.00	%	January 1, 2028		5,000		4,884		4,884
BrightInsight, Inc. (2)(12)	Software	Term Loan		14.00	%	Prime		5.50	%		9.50	%		—		3.00	%	August 1, 2027		7,000		6,684		6,684
		Term Loan		14.00	%	Prime		5.50	%		9.50	%		—		3.00	%	August 1, 2027		3,500		3,463		3,463
		Term Loan		14.00	%	Prime		5.50	%		9.50	%		—		3.00	%	August 1, 2027		3,500		3,463		3,463
		Term Loan		14.00	%	Prime		5.50	%		9.50	%		—		3.00	%	April 1, 2028		2,750		2,710		2,710
Elligo Health Research, Inc. (2)(12)	Software	Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2027		10,000		9,656		9,656
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2027		5,000		4,925		4,925
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2027		5,000		4,925		4,925
		Term Loan		12.00	%	Prime		3.50	%		11.75	%		—		4.00	%	October 1, 2027		5,000		4,925		4,925
SafelyYou, Inc. (2)(12)	Software	Term Loan		11.75	%	Prime		3.25	%		11.00	%		—		5.00	%	June 1, 2027		5,000		4,648		4,648
		Term Loan		11.75	%	Prime		3.25	%		11.00	%		—		5.00	%	June 1, 2027		5,000		4,918		4,918
Total Non-Affiliate Debt Investments — Healthcare information and services																						69,770		69,770
*Total Non- Affiliate Debt Investments*																						692,345		664,203

See Notes to Consolidated Financial Statements

Consolidated Schedule of Investments

December 31, 2023

(Dollars in thousands)

					*Cost of*		*Fair*
Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Number of Shares*		*Investments (6)(9)*		*Value (9)*
Non-Affiliate Warrant Investments — 7.6% (8)
Non-Affiliate Warrants — Life Science — 2.3% (8)
Avalo Therapeutics, Inc. (2)(5)(12)	Biotechnology	Common Stock Warrant		117		311		—
Castle Creek Biosciences, Inc. (2)(12)	Biotechnology	Preferred Stock Warrant		7,404		214		318
Emalex Biosciences, Inc. (2)(12)	Biotechnology	Preferred Stock Warrant		110,402		178		246
Imunon, Inc. (2)(5)(12)	Biotechnology	Common Stock Warrant		19,671		65		—
KSQ Therapeutics, Inc. (2) (12)	Biotechnology	Preferred Stock Warrant		48,076		50		53
Mustang Bio, Inc. (2)(5)(12)	Biotechnology	Common Stock Warrant		16,611		146		—
Native Microbials, Inc (2)(12)	Biotechnology	Preferred Stock Warrant		103,679		64		157
PDS Biotechnology Corporation (2)(5)(12)	Biotechnology	Common Stock Warrant		299,848		160		606
Provivi, Inc. (2)(12)	Biotechnology	Common Stock Warrant		175,098		278		—
Provivi, Inc. (2)(12)	Biotechnology	Preferred Stock Warrant		691,895		312		225
Stealth Biotherapeutics Inc. (2)(12)	Biotechnology	Common Stock Warrant		318,181		264		113
Tallac Therapeutics, Inc. (2)(12)	Biotechnology	Preferred Stock Warrant		1,600,002		194		172
Xeris Pharmaceuticals, Inc. (2)(5)(12)	Biotechnology	Common Stock Warrant		126,000		72		33
AccuVein Inc. (2)(12)	Medical Device	Common Stock Warrant		1,175		24		—
Aerin Medical, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		1,818,183		66		1,199
Aerobiotix, LLC (2)(12)	Medical Device	Preferred Stock Warrant		8,800		48		9
Canary Medical Inc. (2)(12)	Medical Device	Preferred Stock Warrant		12,153		86		1,305
Candesant Biomedical, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		93,336		152		135
Ceribell, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		145,483		69		229
Cognoa, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		4,106,174		149		167
Conventus Orthopaedics, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		7,972,222		221		206
CSA Medical, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		3,341,376		174		124
CVRx, Inc. (2)(5)(12)	Medical Device	Common Stock Warrant		47,410		76		980
Infobionic, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		2,010,424		124		26
Magnolia Medical Technologies, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		809,931		194		368
Meditrina, Inc. (12)	Medical Device	Preferred Stock Warrant		233,993		83		93
MicroTransponder, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		103,172		47		47
Scientia Vascular, Inc (2)(12)	Medical Device	Preferred Stock Warrant		34,410		103		215
Sonex Health, Inc. (2)(12)	Medical Device	Preferred Stock Warrant		2,637,043		275		269
VERO Biotech LLC (2)(12)	Medical Device	Preferred Stock Warrant		4,109		432		379
Swift Health Systems Inc. (2)(12)	Medical Device	Preferred Stock Warrant		135,484		71		1
Total Non-Affiliate Warrants — Life Science						4,702		7,675

See Notes to Consolidated Financial Statements

Consolidated Schedule of Investments

December 31, 2023

(Dollars in thousands)

					*Cost of*		*Fair*
Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Number of Shares*		*Investments (6)(9)*		*Value (9)*
*Non-Affiliate Warrants — Sustainability — 0.2% (8)*
New Aerofarms, Inc. assignee of Aerofarms, Inc. (2)(12)(15)	Other Sustainability	Preferred Stock Warrant		400,000		81		72
LiquiGlide, Inc. (2)(12)	Other Sustainability	Common Stock Warrant		61,359		39		50
Nexii Building Solutions, Inc. (2)(12)(14)(18)	Other Sustainability	Common Stock Warrant		215,171		490		—
Soli Organic, Inc. (2)(12)	Other Sustainability	Preferred Stock Warrant		681		214		340
Temperpack Technologies, Inc. (2)(12)	Other Sustainability	Preferred Stock Warrant		46,311		175		80
*Total Non-Affiliate Warrants — Sustainability*						999		542
Non-Affiliate Warrants — Technology — 4.5% (8)
Axiom Space, Inc. (2)(12)	Communications	Common Stock Warrant		1,991		47		61
Intelepeer Holdings, Inc. (2)(12)	Communications	Preferred Stock Warrant		2,936,535		138		3,036
PebblePost, Inc. (2)(12)	Communications	Preferred Stock Warrant		598,850		92		131
Alula Holdings, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		20,000		93		—
Aterian, Inc. (2)(5)(12)	Consumer-related Technologies	Common Stock Warrant		76,923		195		—
Caastle, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		268,591		65		1,055
CAMP NYC, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		75,997		22		27
Clara Foods Co. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		46,745		29		122
CZV, Inc. (2)(12)	Consumer-related Technologies	Common Stock Warrant		65,569		81		71
Divergent Technologies, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		37,282		94		250
Havenly, Inc. (2)(12)	Consumer-related Technologies	Common Stock Warrant		1,312,500		2,947		2,259
MyForest Foods Co. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		250		29		56
NextCar Holding Company, Inc. (2)(12)	Consumer-related Technologies	Common Stock Warrant		12,618		188		—
NextCar Holding Company, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		1,224,752		9		—
Optoro, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		11,550		182		145
Primary Kids, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		553,778		57		591
Quip NYC Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		6,191		325		533
Unagi, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		171,081		32		—
Updater, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock Warrant		114,659		34		—
CPG Beyond, Inc. (2)(12)	Data Storage	Preferred Stock Warrant		500,000		242		294
Silk, Inc. (2)(12)	Data Storage	Preferred Stock Warrant		394,110		175		124
Global Worldwide LLC (2)(12)	Internet and Media	Preferred Stock Warrant		245,810		75		63
Rocket Lawyer Incorporated (2)(12)	Internet and Media	Preferred Stock Warrant		261,721		92		318
Skillshare, Inc. (2)(12)	Internet and Media	Preferred Stock Warrant		139,074		162		1,201
Liqid, Inc. (2)(12)	Networking	Preferred Stock Warrant		344,102		364		210
Halio, Inc. (2)(12)	Power Management	Common Stock Warrant		38,241,466		1,585		2,700
Avalanche Technology, Inc. (2)(12)	Semiconductors	Preferred Stock Warrant		5,938		45		—
BriteCore Holdings, Inc. (2)(12)	Software	Preferred Stock Warrant		161,215		98		174
Dropoff, Inc. (2)(12)	Software	Common Stock Warrant		516,732		455		46
E La Carte, Inc. (2)(5)(12)	Software	Common Stock Warrant		147,361		60		—
Everstream Holdings, LLC (2)(12)	Software	Preferred Stock Warrant		350,000		70		63
Kodiak Robotics, Inc. (2)(12)	Software	Preferred Stock Warrant		639,918		273		13
Lemongrass Holdings, Inc. (2)(12)	Software	Preferred Stock Warrant		101,308		32		120
Lotame Solutions, Inc. (2)(12)	Software	Preferred Stock Warrant		71,305		18		42
Lytics, Inc. (2)(12)	Software	Preferred Stock Warrant		85,543		43		1
Mirantis, Inc. (2)(12)	Software	Common Stock Warrant		948,275		223		247
Noodle Partners, Inc. (2)(12)	Software	Preferred Stock Warrant		84,037		115		2
Reputation Institute, Inc. (2)(12)	Software	Preferred Stock Warrant		3,731		56		80
Revinate Holdings, Inc. (2)(12)	Software	Preferred Stock Warrant		682,034		44		91
SIGNiX, Inc. (12)	Software	Preferred Stock Warrant		186,235		225		—
Slingshot Aerospace, Inc. (2)(12)	Software	Preferred Stock Warrant		309,208		123		135
Supply Network Visibility Holdings LLC (2)(12)	Software	Preferred Stock Warrant		682		64		135
Topia Mobility, Inc. (2)(12)	Software	Preferred Stock Warrant		3,049,607		138		—
Viken Detection Corporation (2)(12)	Software	Preferred Stock Warrant		345,443		120		105
xAd, Inc. (2)(12)	Software	Preferred Stock Warrant		4,343,348		177		5
Total Non-Affiliate Warrants — Technology						9,733		14,506

See Notes to Consolidated Financial Statements

Consolidated Schedule of Investments

December 31, 2023

(Dollars in thousands)

					*Cost of*		*Fair*
Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Number of Shares*		*Investments (6)(9)*		*Value (9)*
Non-Affiliate Warrants — Healthcare information and services — 0.6% (8)
Hound Labs, Inc (2) (12)	Diagnostics	Preferred Stock Warrant		171,370		46		12
Parse Biosciences, Inc. (2)(12)	Diagnostics	Common Stock Warrant		32,244		70		70
Parse Biosciences, Inc. (2)(12)	Diagnostics	Preferred Stock Warrant		184,253		166		166
Kate Farms, Inc. (2)(12)	Other Healthcare	Preferred Stock Warrant		82,965		102		1,366
BrightInsight, Inc. (2)(12)	Software	Preferred Stock Warrant		85,066		167		—
Elligo Health Research, Inc. (2)(12)	Software	Preferred Stock Warrant		652,250		192		99
Medsphere Systems Corporation (2)(12)	Software	Preferred Stock Warrant		7,097,792		60		108
SafelyYou, Inc. (2)(12)	Software	Preferred Stock Warrant		150,353		163		50
Total Non-Affiliate Warrants — Healthcare information and services						966		1,871
*Total Non-Affiliate Warrants*						16,400		24,594
Non-Affiliate Other Investments — Life Science — 0.1% (8)
Lumithera, Inc. (12)	Medical Device	Royalty Agreement				1,200		200
ZetrOZ, Inc. (12)	Medical Device	Royalty Agreement				—		—
*Total Non-Affiliate Other Investments*						1,200		200
Non-Affiliate Equity — 1.5% (8)
Cadrenal Therapeutics, Inc. (5)	Biotechnology	Common Stock		600,000		—		443
Castle Creek Biosciences, Inc. (12)	Biotechnology	Common Stock		1,162		250		250
Emalex Biosciences, Inc. (12)	Biotechnology	Common Stock		32,831		355		355
Axiom Space, Inc. (12)	Communication	Preferred Stock		1,810		261		306
Getaround, Inc. (2)(5)	Consumer-related Technologies	Common Stock		87,082		253		20
NextCar Holding Company, Inc. (2)(12)	Consumer-related Technologies	Preferred Stock		2,688,971		89		89
SnagAJob.com, Inc. (12)	Consumer-related Technologies	Common Stock		82,974		9		83
Lumithera, Inc. (12)	Medical Device	Common Stock		392,651		2,000		1,700
Tigo Energy, Inc. (5)	Other Sustainability	Common Stock		5,205		111		13
Decisyon, Inc. (12)	Software	Preferred Stock		280,000		2,800		1,281
Lotame, Inc. (12)	Software	Preferred Stock		66,127		4		193
*Total Non-Affiliate Equity*						6,132		4,733
*Total Non-Affiliate Portfolio Investment Assets*						$716,077		$693,730

See Notes to Consolidated Financial Statements

Consolidated Schedule of Investments

December 31, 2023

(Dollars in thousands)

Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Cash Rate (4)*			*Index*	*Margin*			*Floor*			*Ceiling*		*ETP (10)*			*Maturity Date*	*Principal Amount*		*Cost of Investments (6)(9)*		*Fair Value (9)*
Non-Controlled Affiliate Investments — 0.3% (8)
Non-Controlled Affiliate Debt Investments — Life Sciences — 0.3% (8)
Evelo Biosciences, Inc. (2)(5)(12)(13)	Biotechnology	Term Loan		12.75	% (11)	Prime		4.25	%		11.00	%		—		2.27	%	January 1, 2028		5,532		5,228		222
		Term Loan		12.75	% (11)	Prime		4.25	%		11.00	%		—		2.27	%	January 1, 2028		8,298		7,867		336
		Term Loan		12.75	% (11)	Prime		4.25	%		11.00	%		—		2.27	%	January 1, 2028		3,319		3,137		133
		Term Loan		12.75	% (11)	Prime		4.25	%		11.00	%		—		2.27	%	January 1, 2028		3,319		3,137		133
		Term Loan		12.75	% (11)	Prime		4.25	%		11.00	%		—		2.27	%	January 1, 2028		2,213		2,091		88
		Term Loan		12.75	% (11)	Prime		4.25	%		11.00	%		—		2.27	%	January 1, 2028		2,213		2,091		88
Total Non-Controlled Affiliate Debt Investments																						23,551		1,000

					*Cost of*		*Fair*
Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Number of Shares*		*Investments (6)(9)*		*Value (9)*
Non-controlled Affiliate Equity — Life Sciences — 0.0% (8)
Aulea Medical, Inc. (12)(16)	Medical Device	Common Stock		660,537		—		—
Evelo Biosciences, Inc. (5)	Biotechnology	Common Stock		2,164,502		5,000		132
Total Non-Controlled Affiliate Equity						5,000		132
Non-controlled Affiliate Warrants — Life Sciences — 0.0% (8)
Evelo Biosciences, Inc. (2)(5)(12)	Biotechnology	Common Stock		23,196		126		—
Total Non-Controlled Affiliate Warrants						126		—
*Total Non-Controlled Affiliate Portfolio Investment Assets*						$28,677		$1,132

Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Cash Rate (4)*			*Index*	*Margin*			*Floor*			*Ceiling*		*ETP (10)*			*Maturity Date*	*Principal Amount*		*Cost of Investments (6)(9)*		*Fair Value (9)*
Controlled Affiliate Investments — 4.4% (8)
Controlled Affiliate Debt Investments — Technology — 1.6% (8)
Better Place Forests Co. (12)	Consumer-related Technologies	Term Loan		12.25	% (11)	Prime		3.75	%		12.00	%		—		1.85	%	August 1, 2029		3,547		3,585		3,339
		Term Loan		12.25	% (11)	Prime		3.75	%		12.00	%		—		1.85	%	August 1, 2029		1,773		1,750		1,630
Total Controlled Affiliate Debt Investments																						5,335		4,969

					*Cost of*		*Fair*
Portfolio Company (1)(3)	*Sector*	*Type of Investment (7)*	*Number of Shares*		*Investments (6)(9)*		*Value (9)*
Controlled Affiliate Equity — Technology — 0.9% (8)
Better Place Forests Co. (12)	Consumer-related Technologies	Common Stock		2,278,272		2,061		2,165
Better Place Forests Co. (12)	Consumer-related Technologies	Preferred Stock		3,124,448		1,250		859
Total Controlled Affiliate Equity						3,311		3,024
Controlled Affiliate Other Investments — Life Sciences — 1.9% (8)
HIMV LLC (12)(17)	Biotechnology	Other Investment				5,782		6,230
Total Controlled Affiliate Other						5,782		6,230
*Total Controlled Affiliate Portfolio Investment Assets*						$14,428		$14,223
*Total Portfolio Investment Assets — 218.9% (8)*						$759,182		$709,085

Short Term Investments - Unrestricted Investments - 1.0% (8)
US Bank Money Market Deposit Account		26,450		26,450
Total Short Term Investments - Unrestricted Investments	$	26,450	$	26,450

Short Term Investments - Restricted Investments - 0.8% (8)
US Bank Money Market Deposit Account		2,642		2,642
Total Short Term Investments - Restricted Investments	$	2,642	$	2,642

See Notes to Consolidated Financial Statements

Consolidated Schedule of Investments

December 31, 2023

(Dollars in thousands)

(1)	All investments of the Company are in entities which are organized under the laws of the United States and have a principal place of business in the United States, unless otherwise noted.
(2)	Has been pledged as collateral under the Key Facility, the NYL Facility and/or the 2022 Asset-Backed Notes.
(3)	All non-affiliate investments are investments in which the Company owns less than 5% of the voting securities of the portfolio company. All non-controlled affiliate investments are investments in which the Company owns 5% or more of the voting securities of the portfolio company but not more than 25% of the voting securities of the portfolio company. All controlled affiliate investments are investments in which the Company owns more than 25% of the portfolio company’s outstanding voting securities or has the power to exercise control over management or policies of such portfolio company (including through a management agreement).
(4)	All interest is payable in cash due monthly in arrears, unless otherwise indicated, and applies only to the Company’s debt investments. Interest rate is the annual interest rate on the debt investment and does not include ETPs, and any additional fees related to the investments, such as deferred interest, commitment fees or prepayment fees. Debt investments are at variable rates for the term of the debt investment, unless otherwise indicated. For each debt investment, the current interest rate in effect as of December 31, 2023 is provided.

(5)	Portfolio company is a public company.
(6)	For debt investments, represents principal balance less unearned income.
(7)	Warrants, Equity and Other Investments are non-income producing.
(8)	Value as a percent of net assets.
(9)	As of December 31, 2023, 4.7% and 2.7% of the Company’s total assets on a cost and fair value basis, respectively, are in non-qualifying assets. Under the 1940 Act, the Company may not acquire any non-qualifying assets unless, at the time the acquisition is made, qualifying assets represent at least 70% of the Company’s total assets.
(10)	ETPs are contractual fixed-interest payments due in cash at the maturity date of the applicable debt investment, including upon any prepayment, and are a fixed percentage of the original principal balance of the debt investments unless otherwise noted. Interest will accrue during the life of the debt investment on each ETP and will be recognized as non-cash income until it is actually paid. Therefore, a portion of the incentive fee the Company may pay its Advisor will be based on income that the Company has not yet received in cash.

(11)	Debt investment has a PIK feature in which the accrued interest is added to the then-outstanding principal amount of the debt investment.
(12)	The fair value of the investment was valued using significant unobservable inputs.
(13)	Debt investment is on non-accrual status as of December 31, 2023.
(14)	Entity is organized under the laws of Canada and has a principal place of business in Canada.
(15)	On or about September 13, 2023, in connection with New Aerofarms, Inc.’s purchase of substantially all of the assets of Aerofarms, Inc. in a bankruptcy process, New Aerofarms, Inc. assumed all of the debt investments of the Company in Aerofarms, Inc..
(16)	On July 31, 2023, pursuant to a certain Secured Party Bill of Sale and Transfer Agreement, the Company sold substantially all of the assets of Corinth MedTech, Inc., a borrower of the Company, to Aulea Medical Inc. (“Aulea”) in consideration of 660,537 shares of the common stock of Aulea.
(17)	By an Order of the Supreme Court of Nova Scotia made May 1, 2023, as amended and restated by an Order of the Court made May 5, 2023, IMV, Inc. (“IMV”) commenced proceedings (the “CCAA Proceedings”) under the Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended to seek creditor protection for IMV and on June 2, 2023, IMV obtained recognition of the CCAA Proceedings under Chapter 15 of the United States Bankruptcy Code in proceedings before the United States Bankruptcy Court for the District of Delaware. In September 2023, the Company, with its co-lender to IMV, credit-bid and acquired substantially all of the assets of IMV through HIMV LLC, an entity formed to acquire the assets of IMV. HIMV LLC is 70% owned by the Company and 30% owned by the co-lender.
(18)	On January 11, 2024, Nexii Building Solutions Inc., and its affiliates, obtained an Initial Order under the Companies’ Creditors Arrangement Act from the Supreme Court of British Columbia in Vancouver. The Initial Order provides for, among other things, a stay of proceedings in favour of Nexii, the approval of debtor-in-possession financing and the appointment of KSV Restructuring Inc. as monitor of Nexii.
(19)	Debt investment has a partial PIK feature in which (a) a portion of the accrued interest on the debt investment, in an amount equal to four and one half percent (4.5%) on the then-outstanding principal amount of the debt investment is added to the then-outstanding principal amount of the debt investment and (b) the remaining accrued interest on the debt investment is paid in cash.

See Notes to Consolidated Financial Statements

The entire disclosure for investments owned by investment company.

+ References + Details

Note 9 - Concentrations of Credit Risk (Details Textual) - Debt Investments [Member]	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Investment Concentration Risk [Member] \| Reported Value Measurement [Member]
Concentration Risk, Percentage			22.00%		23.00%
Investment Concentration Risk [Member] \| Estimate of Fair Value Measurement [Member]
Concentration Risk, Percentage			23.00%		22.00%
Interest Income [Member] \| Reported Value Measurement [Member]
Concentration Risk, Percentage	21.00%	24.00%	21.00%	23.00%
Interest Income [Member] \| Estimate of Fair Value Measurement [Member]
Concentration Risk, Percentage	25.00%	22.00%	23.00%	21.00%

Note 7 - Borrowings (Details Textual) - USD ($) $ / shares in Units, $ in Thousands						3 Months Ended		9 Months Ended
	Jun. 21, 2024	Jun. 20, 2024	May 06, 2024	May 24, 2023	Apr. 21, 2020	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Jun. 29, 2023	Nov. 09, 2022	Jun. 15, 2022	Mar. 30, 2021	Aug. 13, 2019
Restricted Investments						$ 3,266		$ 3,266		$ 2,642
Long-Term Debt, Gross						436,970		436,970		466,000
Debt Instrument, Face Amount						$ 705,970		$ 705,970		615,000
Key Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity, Accordian Feature											$ 150,000
Line of Credit Facility, Maximum Borrowing Capacity											$ 300,000
Line of Credit Facility, Advance Rate of Eligible Debt Investments											60.00%
Long-Term Debt, Weighted Average Interest Rate, over Time						8.53%	8.68%	8.67%	8.34%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage								0.50%
Line of Credit Facility, Current Borrowing Capacity						$ 150,000		$ 150,000		80,000
Line of Credit Facility, Remaining Borrowing Capacity						13,300		13,300		25,000
Long-Term Debt, Gross						0		0		70,000
Debt Instrument, Face Amount						$ 150,000		$ 150,000		$ 150,000
Key Facility [Member] \| Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		0.10%
Debt Instrument, Variable Rate						8.00%		8.00%		8.50%
NYL Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity				$ 250,000	$ 100,000
Line of Credit Facility, Current Borrowing Capacity						$ 69,000		$ 69,000		$ 69,000
Line of Credit Facility, Remaining Borrowing Capacity						8,200		8,200		17,400
Line of Credit Facility, Maximum Borrowing Capacity, Accordion Feature					$ 200,000
Line of Credit Facility, Advance Rate					67.00%
Line of Credit Facility, Change in Maximum Borrowing Capacity				$ 50,000
Debt Instrument, Interest Rate, Stated Percentage			4.60%	4.60%
Long-Term Line of Credit						$ 181,000		$ 181,000		181,000
Line of Credit Facility, Interest Rate at Period End						6.43%	5.85%	6.43%	5.85%
Restricted Investments						$ 1,400		$ 1,400		1,400
Long-Term Debt, Gross						181,000		181,000		181,000
Debt Instrument, Face Amount						250,000		250,000		250,000
NYL Facility [Member] \| Three Year I Curve [Member]
Debt Instrument, Basis Spread on Variable Rate			3.20%	3.50%
Nuveen Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity, Accordian Feature	$ 200,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 100,000
Line of Credit Facility, Current Borrowing Capacity						50,000		50,000
Line of Credit Facility, Remaining Borrowing Capacity						29,900		29,900
Line of Credit Facility, Advance Rate	67.50%
Long-Term Line of Credit						$ 50,000		$ 50,000		0
Line of Credit Facility, Interest Rate at Period End						7.38%		7.38%
Restricted Investments						$ 900		$ 900
Long-Term Debt, Gross						50,000		50,000		0
Debt Instrument, Face Amount						100,000		100,000		0
Nuveen Facility [Member] \| Selected Interest Rates (Daily) [Member]
Debt Instrument, Basis Spread on Variable Rate	3.15%
Asset-backed Notes 2019 [Member]
Debt Instrument, Interest Rate, Stated Percentage															4.21%
Debt Instrument, Face Amount															$ 160,000
Asset-backed Notes 2022 [Member]
Debt Instrument, Interest Rate, Stated Percentage												7.56%
Restricted Investments						1,000		1,000		1,300
Long-Term Debt, Gross						90,970		90,970		100,000
Debt Instrument, Face Amount						90,970		90,970		100,000		$ 157,800
The 2026 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage														4.875%
Long-Term Debt, Gross						57,500		57,500		57,500
Debt Instrument, Face Amount						57,500		57,500		57,500				$ 57,500
The 2026 Notes Underwriter Option [Member]
Debt Instrument, Face Amount														$ 7,500
Debt Instrument, Convertible, Conversion Price (in dollars per share)														$ 25
The 2027 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage													6.25%
Long-Term Debt, Gross						57,500		57,500		57,500
Debt Instrument, Face Amount						$ 57,500		$ 57,500		$ 57,500			$ 50,000
The 2027 Notes Underwriter Option [Member]
Debt Instrument, Face Amount													$ 7,500
Debt Instrument, Convertible, Conversion Price (in dollars per share)													$ 25
Minimum [Member]
Asset Coverage to Borrowings, Ratio, Percent								150.00%
Minimum [Member] \| Key Facility [Member] \| Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		4.10%
Minimum [Member] \| NYL Facility [Member] \| USD Mid-market Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate					3.55%
Minimum [Member] \| Nuveen Facility [Member]
Debt Instrument, Interest Rate, Stated Percentage	5.00%
Minimum [Member] \| Nuveen Facility [Member] \| Selected Interest Rates (Daily) [Member]
Debt Instrument, Basis Spread on Variable Rate, Treasury Yield Maturity (Year)	3 years
Maximum [Member]
Asset Coverage to Borrowings, Ratio, Percent								178.00%
Maximum [Member] \| NYL Facility [Member] \| USD Mid-market Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate					5.15%
Maximum [Member] \| Nuveen Facility [Member] \| Selected Interest Rates (Daily) [Member]
Debt Instrument, Basis Spread on Variable Rate, Treasury Yield Maturity (Year)	5 years
Weighted Average [Member] \| Nuveen Facility [Member] \| Selected Interest Rates (Daily) [Member]
Debt Instrument, Basis Spread on Variable Rate, Treasury Yield Maturity (Year)	4 years 10 months 17 days

Note 3 - Related Party Transactions (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Management Fee Payable	$ 1,025		$ 1,025		$ 1,052
Management Fee Expense	2,989	$ 3,213	9,178	$ 9,621
Administrative Fees Expense	400	441	$ 1,259	1,249
Investment Management Agreement [Member]
Base Management Fee, Annual, Percent			2.00%
Base Management Fee, Annual, Percent, Gross Assets Exceeding $250 Million			1.60%
Management Fee Payable	1,000		$ 1,000		1,100
Incentive Fee to Pre-incentive Net Investment Income			20.00%
Pre-Incentive Fee Net Investment Income, Hurdle Rate			1.75%
Pre-Incentive Fee Net Investment Income, Hurdle Rate, Annualized			7.00%
Pre-Incentive Fee Net Investment Income, Catch-up, Percent			100.00%
Pre-Incentive Fee Net Investment Income, Maximum Rate to Trigger Catch-up			2.1875%
Pre-Incentive Fee Net Investment Income, Maximum Rate to Trigger Catch-up, Annualized			8.75%
Incentive Fee Expense	0		$ 300	3,100
Incentive Fee Cap and Deferral Mechanism Reduction to Expense	2,400	3,500	7,200	6,800
Incentive Fee Payable	0		0		0
Administration Agreement [Member]
Administrative Fees Expense	400	$ 400	1,300	$ 1,200
Administrative Fees Payable	$ 400		$ 400		$ 400

Consolidated Schedule of Investments (Unaudited) - Investments (Details) (Parentheticals)	Sep. 30, 2024	Dec. 31, 2023
NAV %	199.70%	218.90%
Investment, Affiliated Issuer, Controlled [Member]
NAV %	5.70%	4.40%
Investment, Affiliated Issuer, Noncontrolled [Member]
NAV %	2.40%	0.30%
Investment, Unaffiliated Issuer [Member]
NAV %	191.60%	214.20%
Unrestricted Short Term Investments [Member]
NAV %	9.10%	1.00%
Restricted Short Term Investments [Member]
NAV %	1.00%	0.80%
Debt Securities [Member] \| Investment, Affiliated Issuer, Controlled [Member]
NAV %	2.00%
Debt Securities [Member] \| Investment, Affiliated Issuer, Controlled [Member] \| Consumer-related Technologies [Member]
NAV %		1.60%
Debt Securities [Member] \| Investment, Affiliated Issuer, Noncontrolled [Member] \| Life Science [Member]
NAV %		0.30%
Debt Securities [Member] \| Investment, Unaffiliated Issuer [Member]
NAV %	182.90%	205.00%
Debt Securities [Member] \| Investment, Unaffiliated Issuer [Member] \| Life Science [Member]
NAV %		75.60%
Debt Securities [Member] \| Investment, Unaffiliated Issuer [Member] \| Technology Sector [Member]
NAV %	56.70%	83.30%
Debt Securities [Member] \| Investment, Unaffiliated Issuer [Member] \| Life Science Segment [Member]
NAV %	76.00%
Debt Securities [Member] \| Investment, Unaffiliated Issuer [Member] \| Healthcare Information and Services Segment [Member]
NAV %	30.40%	21.50%
Debt Securities [Member] \| Investment, Unaffiliated Issuer [Member] \| Sustainability Segment [Member]
NAV %	19.80%	24.60%
Equity Securities [Member] \| Investment, Affiliated Issuer, Controlled [Member]
NAV %	1.90%
Equity Securities [Member] \| Investment, Affiliated Issuer, Controlled [Member] \| Technology Sector [Member]
NAV %		0.90%
Equity Securities [Member] \| Investment, Affiliated Issuer, Noncontrolled [Member]
NAV %	0.00%
Equity Securities [Member] \| Investment, Affiliated Issuer, Noncontrolled [Member] \| Life Science [Member]
NAV %		0.00%
Equity Securities [Member] \| Investment, Unaffiliated Issuer [Member]
NAV %	2.20%	1.50%
Warrant [Member] \| Investment, Affiliated Issuer, Noncontrolled [Member]
NAV %	0.00%
Warrant [Member] \| Investment, Affiliated Issuer, Noncontrolled [Member] \| Life Science [Member]
NAV %		0.00%
Warrant [Member] \| Investment, Unaffiliated Issuer [Member]
NAV %	5.50%	7.60%
Warrant [Member] \| Investment, Unaffiliated Issuer [Member] \| Technology Sector [Member]
NAV %	3.50%	4.50%
Warrant [Member] \| Investment, Unaffiliated Issuer [Member] \| Life Science Segment [Member]
NAV %	1.50%	2.30%
Warrant [Member] \| Investment, Unaffiliated Issuer [Member] \| Healthcare Information and Services Segment [Member]
NAV %	0.30%	0.60%
Warrant [Member] \| Investment, Unaffiliated Issuer [Member] \| Sustainability Segment [Member]
NAV %	0.20%	0.20%
Other Investments [Member] \| Investment, Affiliated Issuer, Controlled [Member]
NAV %	1.80%
Other Investments [Member] \| Investment, Affiliated Issuer, Controlled [Member] \| Life Science [Member]
NAV %		1.90%
Other Investments [Member] \| Investment, Affiliated Issuer, Noncontrolled [Member]
NAV %	2.40%
Other Investments [Member] \| Investment, Unaffiliated Issuer [Member] \| Life Science [Member]
NAV %		0.10%
Other Investments [Member] \| Investment, Unaffiliated Issuer [Member] \| Life Science Segment [Member]
NAV %	1.50%

Consolidated Statements of Assets and Liabilities (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets
Investments at fair value	$ 684,000	$ 709,085
Cash	52,302	46,630
Investments in money market funds	31,080	26,450
Restricted investments in money market funds	3,266	2,642
Interest receivable	15,789	13,926
Other assets	6,637	3,623
Total assets	793,074	802,356
Liabilities
Borrowings (Note 7)	433,969	462,235
Distributions payable	12,475	11,011
Base management fee payable (Note 3)	1,025	1,052
Other accrued expenses	3,072	4,077
Total liabilities	450,541	478,375
Commitments and contingencies (Notes 3 and 8)
Net assets
Preferred stock, par value $0.001 per share, 1,000,000 shares authorized, zero shares issued and outstanding as of September 30, 2024 and December 31, 2023	0	0
Common stock, par value $0.001 per share, 100,000,000 shares authorized, 37,970,529 and 33,534,854 shares issued and 37,803,064 and 33,367,389 shares outstanding as of September 30, 2024 and December 31, 2023, respectively	42	36
Paid-in capital in excess of par	500,345	450,949
Distributable loss	(157,854)	(127,004)
Total net assets	342,533	323,981
Total liabilities and net assets	$ 793,074	$ 802,356
Net asset value per common share (in dollars per share)	$ 9.06	$ 9.71
Investment, Unaffiliated Issuer [Member]
Assets
Investments at fair value	$ 655,962	$ 693,730
Investment, Affiliated Issuer, Noncontrolled [Member]
Assets
Investments at fair value	8,307	1,132
Investment, Affiliated Issuer, Controlled [Member]
Assets
Investments at fair value	$ 19,731	$ 14,223

Note 6 - Fair Value - Significant Level 3 Fair Value Measurement Inputs (Details) - Fair Value, Inputs, Level 3 [Member]
$ in Thousands

Sep. 30, 2024

USD ($)

Dec. 31, 2023

USD ($)

Debt [Member] | Valuation Technique, Discounted Cash Flow [Member]

$ 683,010

$ 706,858

Debt [Member] | Valuation Technique, Discounted Cash Flow [Member] | Minimum [Member] | Hypothetical Market Yield [Member]

$ 597,137

$ 617,529

Debt [Member] | Valuation Technique, Discounted Cash Flow [Member] | Maximum [Member] | Hypothetical Market Yield [Member]

0.12

0.11

Debt [Member] | Valuation Technique, Discounted Cash Flow [Member] | Weighted Average [Member] | Hypothetical Market Yield [Member]

0.20

0.24

Debt [Member] | Multiple Probability Weighted Cash Flow Model [Member]

^[1]

0.14

0.15

Debt [Member] | Multiple Probability Weighted Cash Flow Model [Member] | Minimum [Member] | Probability Weighting [Member]

$ 36,147

$ 52,643

Debt [Member] | Multiple Probability Weighted Cash Flow Model [Member] | Maximum [Member] | Probability Weighting [Member]

0.10

0.20

Debt [Member] | Multiple Probability Weighted Cash Flow Model [Member] | Weighted Average [Member] | Probability Weighting [Member]

Warrant [Member] | Black-scholes Valuation Model [Member]

^[1]

0.77

0.50

Warrant [Member] | Black-scholes Valuation Model [Member] | Measurement Input, Price Volatility [Member]

$ 18,305

$ 22,913

Warrant [Member] | Black-scholes Valuation Model [Member] | Expected Proceeds [Member]

0.25

Warrant [Member] | Black-scholes Valuation Model [Member] | Minimum [Member] | Measurement Input, Share Price [Member]

$ 62

Warrant [Member] | Black-scholes Valuation Model [Member] | Minimum [Member] | Measurement Input, Discount for Lack of Marketability [Member]

Warrant [Member] | Black-scholes Valuation Model [Member] | Minimum [Member] | Estimated Time to Exit [Member]

Warrant [Member] | Black-scholes Valuation Model [Member] | Maximum [Member] | Measurement Input, Share Price [Member]

Warrant [Member] | Black-scholes Valuation Model [Member] | Maximum [Member] | Measurement Input, Discount for Lack of Marketability [Member]

1,898.58

1,899

Warrant [Member] | Black-scholes Valuation Model [Member] | Maximum [Member] | Estimated Time to Exit [Member]

0.20

Warrant [Member] | Black-scholes Valuation Model [Member] | Weighted Average [Member] | Measurement Input, Share Price [Member]

Warrant [Member] | Black-scholes Valuation Model [Member] | Weighted Average [Member] | Measurement Input, Price Volatility [Member]

^[1]

65.35

64.95

Warrant [Member] | Black-scholes Valuation Model [Member] | Weighted Average [Member] | Measurement Input, Discount for Lack of Marketability [Member]

^[1]

0.25

Warrant [Member] | Black-scholes Valuation Model [Member] | Weighted Average [Member] | Estimated Time to Exit [Member]

^[1]

0.17

0.18

Warrant [Member] | Expected Proceeds [Member] | Measurement Input, Share Price [Member]

^[1]

Warrant [Member] | Expected Proceeds [Member] | Weighted Average [Member] | Measurement Input, Share Price [Member]

0.25

Other Investments [Member] | Multiple Probability Weighted Cash Flow Model [Member]

^[1]

0.25

Other Investments [Member] | Multiple Probability Weighted Cash Flow Model [Member] | Measurement Input, Discount Rate [Member]

$ 17,944

$ 6,430

Other Investments [Member] | Multiple Probability Weighted Cash Flow Model [Member] | Minimum [Member] | Probability Weighting [Member]

0.25

Other Investments [Member] | Multiple Probability Weighted Cash Flow Model [Member] | Minimum [Member] | Measurement Input, Discount Rate [Member]

0.30

Other Investments [Member] | Multiple Probability Weighted Cash Flow Model [Member] | Maximum [Member] | Probability Weighting [Member]

0.15

Other Investments [Member] | Multiple Probability Weighted Cash Flow Model [Member] | Maximum [Member] | Measurement Input, Discount Rate [Member]

Other Investments [Member] | Multiple Probability Weighted Cash Flow Model [Member] | Weighted Average [Member] | Probability Weighting [Member]

Other Investments [Member] | Multiple Probability Weighted Cash Flow Model [Member] | Weighted Average [Member] | Measurement Input, Discount Rate [Member]

^[1]

0.86

0.81

Equity Securities [Member] | Last Equity Financing [Member]

^[1]

0.36

0.25

Equity Securities [Member] | Last Equity Financing [Member] | Minimum [Member] | Measurement Input, Share Price [Member]

$ 13,477

$ 7,281

Equity Securities [Member] | Last Equity Financing [Member] | Maximum [Member] | Measurement Input, Share Price [Member]

0.56

Equity Securities [Member] | Last Equity Financing [Member] | Weighted Average [Member] | Measurement Input, Share Price [Member]

14,592.6

215.03

^[1]

3,532.29

17.15

[1]	Weighted average is calculated by multiplying (a) the unobservable input for each investment in the investment type by (b) (1) the fair value of the related investment in the investment type divided by (2) the total fair value of the investment type.

Note 4 - Investments - Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Investments at cost	$ 733,232	$ 759,182
Investments at fair value	684,000	709,085
Biotechnology Sector [Member]
Investments at cost	126,867	145,544
Investments at fair value	106,865	117,781
Medical Device Sector [Member]
Investments at cost	185,751	147,064
Investments at fair value	179,092	145,019
Communications Sector [Member]
Investments at cost	13,577	19,192
Investments at fair value	15,596	22,188
Consumer-related Sector [Member]
Investments at cost	74,381	105,669
Investments at fair value	54,505	101,327
Data Storage Sector [Member]
Investments at cost	417	417
Investments at fair value	409	418
Internet and Media Sector [Member]
Investments at cost	329	329
Investments at fair value	984	1,582
Networking Sector [Member]
Investments at cost	10,064	5,451
Investments at fair value	9,818	5,297
Power Management Sector [Member]
Investments at cost	1,585	1,585
Investments at fair value	2,700	2,700
Semiconductor Sector [Member]
Investments at cost	45	45
Investments at fair value	0	0
Software Sector [Member]
Investments at cost	136,309	164,133
Investments at fair value	132,951	160,749
Energy Efficiency [Member]
Investments at cost	9,812	111
Investments at fair value	9,712	13
Other Sustainability Sector [Member]
Investments at cost	66,501	98,906
Investments at fair value	66,163	80,370
Diagnostics Sector [Member]
Investments at cost	16,692	19,735
Investments at fair value	14,114	19,701
Other Healthcare Sector [Member]
Investments at cost	39,511	102
Investments at fair value	40,186	1,366
Software, Healthcare Information and Service [Member]
Investments at cost	51,391	50,899
Investments at fair value	50,905	50,574
Debt [Member]
Investments at cost	654,127	721,231
Investments at fair value	633,284	670,172
Warrant [Member]
Investments at cost	17,292	16,526
Investments at fair value	18,735	24,594
Other Debt Obligations [Member]
Investments at cost	36,651	6,982
Investments at fair value	17,944	6,430
Equity Securities [Member]
Investments at cost	25,162	14,443
Investments at fair value	$ 14,037	$ 7,889

Note 7 - Borrowings - Borrowings (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Nov. 09, 2022	Jun. 15, 2022	Mar. 30, 2021
Total commitment	$ 705,970	$ 615,000
Balance outstanding	436,970	466,000
Unused commitment	269,000	149,000
Unamortized debt issuance costs attributable to term borrowings	(3,001)	(3,765)
Total borrowings outstanding, net	433,969	462,235
Key Facility [Member]
Total commitment	150,000	150,000
Balance outstanding	0	70,000
Unused commitment	150,000	80,000
NYL Facility [Member]
Total commitment	250,000	250,000
Balance outstanding	181,000	181,000
Unused commitment	69,000	69,000
Nuveen Facility [Member]
Total commitment	100,000	0
Balance outstanding	50,000	0
Unused commitment	50,000	0
Asset-backed Notes 2022 [Member]
Total commitment	90,970	100,000	$ 157,800
Balance outstanding	90,970	100,000
Unused commitment	0	0
The 2027 Notes [Member]
Total commitment	57,500	57,500		$ 50,000
Balance outstanding	57,500	57,500
Unused commitment	0	0
The 2026 Notes [Member]
Total commitment	57,500	57,500			$ 57,500
Balance outstanding	57,500	57,500
Unused commitment	$ 0	$ 0

Note 6 - Fair Value

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Text Block]

Note 6. Fair value

Prior to July 30, 2022, the Board determined the fair value of the Company’s investments. Pursuant to the amended SEC Rule 2a-5 of the 1940 Act, on July 29, 2022, the Board designated the Advisor as the Company’s “valuation designee.” The Board is responsible for oversight of the valuation designee. The valuation designee has established a Valuation Committee to determine in good faith the fair value of the Company’s investments, based on input from the Advisor’s management and personnel and independent valuation firms which are engaged at the direction of the Valuation Committee to assist in the valuation of certain portfolio investments lacking a readily available market quotation at least once during a trailing twelve-month period. The Valuation Committee determines fair values pursuant to a valuation policy approved by the Board and pursuant to a consistently applied valuation process. This valuation process is conducted at the end of each fiscal quarter, with at least 25% (based on fair value) of the Company’s valuation of portfolio companies lacking readily available market quotations subject to review by an independent valuation firm.

The Company uses fair value measurements made by the valuation designee to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in certain instances, there are no quoted market prices for certain assets or liabilities. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the asset or liability.

Fair value measurements focus on exit prices in an orderly transaction (that is, not a forced liquidation or distressed sale) between market participants at the measurement date under current market conditions. If there has been a significant decrease in the volume and level of activity for the asset or liability, a change in valuation technique or the use of multiple valuation techniques may be appropriate. In such instances, determining the price at which willing market participants would transact at the measurement date under current market conditions depends on the facts and circumstances and requires the use of significant judgment.

The Company’s fair value measurements are classified into a fair value hierarchy in accordance with ASC Topic 820, Fair Value Measurement, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. The three categories within the hierarchy are as follows:

Level 1

Quoted prices in active markets for identical assets and liabilities.

Level 2

Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities in active markets, quoted prices in markets that are not active, and model-based valuation techniques for which all significant inputs are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3

Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.

Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Company’s investments may fluctuate from period to period. Additionally, the fair value of the Company’s investments may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values that the Company may ultimately realize. Further, such investments are generally subject to legal and other restrictions on resale or otherwise are less liquid than publicly traded securities. If the Company was required to liquidate a portfolio investment in a forced or liquidation sale, the Company could realize significantly less than the value at which the Company has recorded such portfolio investment.

Cash and interest receivable: The carrying amount is a reasonable estimate of fair value. These financial instruments are not recorded at fair value on a recurring basis and are categorized as Level 1 within the fair value hierarchy described above.

Money market funds: The carrying amounts are valued at their net asset value as of the close of business on the day of valuation. These financial instruments are recorded at fair value on a recurring basis and are categorized as Level 2 within the fair value hierarchy described above as these funds can be redeemed daily.

Debt investments: The fair value of debt investments is estimated by discounting the expected future cash flows using the period end rates at which similar debt investments would be made to borrowers with similar credit ratings and for the same remaining maturities. Significant increases (decreases) in this unobservable input would result in a significantly lower (higher) fair value measurement. These assets are recorded at fair value on a recurring basis and are categorized as Level 3 within the fair value hierarchy described above.

Under certain circumstances, the Company may use an alternative technique to value debt investments that better reflects its fair value such as the use of multiple probability weighted cash flow models when the expected future cash flows contain elements of variability.

Warrant investments: The Company values its warrants using the Black-Scholes valuation model incorporating the following material assumptions:

●

Underlying asset value of the issuer is estimated based on information available, including any information regarding the most recent rounds of borrower funding. Significant increases (decreases) in this unobservable input would result in a significantly higher (lower) fair value measurement.

●

Volatility, or the amount of uncertainty or risk about the size of the changes in the warrant price, is based on indices of publicly traded companies similar in nature to the underlying company issuing the warrant. A total of seven such indices are used. Significant increases (decreases) in this unobservable input would result in a significantly higher (lower) fair value measurement.

●

The risk-free interest rates are derived from the U.S. Treasury yield curve. The risk-free interest rates are calculated based on a weighted average of the risk-free interest rates that correspond closest to the expected remaining life of the warrant.

●

Other adjustments, including a marketability discount on private company warrants, are estimated based on management’s judgment about the general industry environment.

●

Historical portfolio experience on cancellations and exercises of the Company’s warrants are utilized as the basis for determining the estimated time to exit of the warrants in each financial reporting period. Warrants may be exercised in the event of acquisitions, mergers or initial public offerings, and cancelled due to events such as bankruptcies, restructuring activities or additional financings. These events cause the expected remaining life assumption to be shorter than the contractual term of the warrants. Significant increases (decreases) in this unobservable input would result in significantly higher (lower) fair value measurement.

Under certain circumstances the Company may use an alternative technique to value warrants that better reflects the warrants’ fair value, such as an expected settlement of a warrant in the near term or a model that incorporates a put feature associated with the warrant. The fair value may be determined based on the expected proceeds to be received from such settlement or based on the net present value of the expected proceeds from the put option.

The fair value of the Company’s warrants held in publicly traded companies is determined based on inputs that are readily available in public markets or can be derived from information available in public markets. Therefore, the Company has categorized these warrants as Level 2 within the fair value hierarchy described above. The fair value of the Company’s warrants held in private companies is determined using both observable and unobservable inputs and represents management’s best estimate of what market participants would use in pricing the warrants at the measurement date. Therefore, the Company has categorized these warrants as Level 3 within the fair value hierarchy described above. These assets are recorded at fair value on a recurring basis.

Equity investments: The fair value of an equity investment in a privately held company is initially the face value of the amount invested. The Company adjusts the fair value of equity investments in private companies upon the completion of a new third-party round of equity financing. The Company may make adjustments to fair value, absent a new equity financing event, based upon positive or negative changes in a portfolio company’s financial or operational performance. Significant increases (decreases) in this unobservable input would result in a significantly higher (lower) fair value measurement. The Company has categorized these equity investments as Level 3 within the fair value hierarchy described above. The fair value of an equity investment in a publicly traded company is based upon the closing public share price on the date of measurement. Therefore, the Company has categorized these equity investments as Level 1 within the fair value hierarchy described above. These assets are recorded at fair value on a recurring basis.

Other investments: Other investments are valued based on the facts and circumstances of the underlying contractual agreement. The Company currently values these contractual agreements using a multiple probability weighted cash flow model as the contractual future cash flows contain elements of variability. Significant changes in the estimated cash flows and probability weightings would result in a significantly higher or lower fair value measurement. The Company has categorized these other investments as Level 3 within the fair value hierarchy described above. These other investments are recorded at fair value on a recurring basis.

The following tables detail the assets that are carried at fair value and measured at fair value on a recurring basis as of September 30, 2024 and December 31, 2023 and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine the fair value:

	*September 30, 2024*
	*Level 1*		*Level 2*		*Level 3*		*Total*
	(In thousands)
Debt investments	$	—	$	—	$	633,284	$	633,284
Warrant investments		—		430		18,305		18,735
Other investments		—		—		17,944		17,944
Equity investments		560		—		13,477		14,037
Total investments	$	560	$	430	$	683,010	$	684,000

	*December 31, 2023*
	*Level 1*		*Level 2*		*Level 3*		*Total*
	(In thousands)
Debt investments	$	—	$	—	$	670,172	$	670,172
Warrant investments		—		1,619		22,975		24,594
Other investments		—		—		6,430		6,430
Equity investments		608		—		7,281		7,889
Total investments	$	608	$	1,619	$	706,858	$	709,085

The following tables provide a summary of quantitative information about the Company’s Level 3 fair value measurements of the Company’s investments as of September 30, 2024 and December 31, 2023. In addition to the techniques and inputs noted in the table below, according to the Company’s valuation policy, the Company may also use other valuation techniques and methodologies when determining its fair value measurements.

The following table is not intended to be all-inclusive, but rather provides information on the significant Level 3 inputs as they relate to the Company’s fair value measurements as of September 30, 2024:

*September 30, 2024*
	*Fair*		*Valuation Techniques/*	*Unobservable*		*Weighted*
Investment Type	*Value*		*Methodologies*	*Input*	*Range*	*Average(1)*
			(Dollars in thousands, except per share data)
Debt investments	$	597,137	Discounted Expected Future Cash Flows	Hypothetical Market Yield	12% – 20%		14	%

		36,147	Multiple Probability Weighted Cash Flow Model	Probability Weighting	10% - 100%		77	%

Warrant investments		18,305	Black-Scholes Valuation Model	Price Per Share	0.000 –1,898.5858	$	65.35
				Average Industry Volatility	25%		25	%
				Marketability Discount	0 - 20%		17	%
				Estimated Time to Exit (in years)	1 to 5		3

Other investments		17,944	Multiple Probability Weighted Cash Flow Model	Discount Rate	15% – 100%		36	%
				Probability Weighting	30% – 100%		86	%

Equity investments		13,477	Last Equity Financing	Price Per Share	0.000 –14,592.6060	$	3,532.29

Total Level 3 investments	$	683,010

(1)	Weighted average is calculated by multiplying (a) the unobservable input for each investment in the investment type by (b) (1) the fair value of the related investment in the investment type divided by (2) the total fair value of the investment type.

*December 31, 2023*
	*Fair*		*Valuation Techniques/*	*Unobservable*		*Weighted*
Investment Type	*Value*		*Methodologies*	*Input*	*Range*	*Average(1)*
			(Dollars in thousands, except per share data)
Debt investments	$	617,529	Discounted Expected Future Cash Flows	Hypothetical Market Yield	11% – 24%		15	%

		52,643	Multiple Probability Weighted Cash Flow Model	Probability Weighting	20% - 100%		50	%

Warrant investments		22,913	Black-Scholes Valuation Model	Price Per Share	0.000 –1,899.0000	$	64.95
				Average Industry Volatility	25%		25	%
				Marketability Discount	0 - 20%		18	%
				Estimated Time to Exit (in years)	1 to 5		3
		62	Expected Proceeds	Price Per Share	$0.25	$	0.25

Other investments		6,430	Multiple Probability Weighted Cash Flow Model	Discount Rate	25%		25	%
				Probability Weighting	30% – 100%		81	%

Equity investments		7,281	Last Equity Financing	Price Per Share	0.566 –215.0303	$	17.15

Total Level 3 investments	$	706,858

(1)	Weighted average is calculated by multiplying (a) the unobservable input for each investment in the investment type by (b) (1) the fair value of the related investment in the investment type divided by (2) the total fair value of the investment type.

Borrowings: The Credit Facilities approximate fair value due to the variable interest rate of the facilities and are categorized as Level 2 within the fair value hierarchy described above. Additionally, the Company considers its creditworthiness in determining the fair value of such borrowings. The fair value of the fixed-rate 2026 Notes (as defined in Note 7) is based on the closing public share price on the date of measurement. On September 30, 2024, the closing price of the 2026 Notes on the New York Stock Exchange was $24.30 per note and had an aggregate fair value of $55.9 million. Therefore, the Company has categorized this borrowing as Level 1 within the fair value hierarchy described above. The fair value of the fixed-rate 2027 Notes (as defined in Note 7) is based on the closing public share price on the date of measurement. On September 30, 2024, the closing price of the 2027 Notes on the New York Stock Exchange was $24.16 per note and had an aggregate fair value of $55.6 million. Therefore, the Company has categorized this borrowing as Level 1 within the fair value hierarchy described above. Based on market quotations on September 30, 2024, the 2022 Asset-Backed Notes were trading at par value, or $91.0 million, and are categorized as Level 3 within the fair value hierarchy described above. These borrowings are not recorded at fair value on a recurring basis.

Off-balance-sheet instruments: Fair values for off-balance-sheet lending commitments are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standings. Therefore, the Company has categorized these instruments as Level 3 within the fair value hierarchy described above.

The following table shows a reconciliation of the beginning and ending balances for Level 3 assets measured at fair value on a recurring basis for the three months ended September 30, 2024:

	*Three months ended September 30, 2024*
	*Debt*			*Warrant*			*Equity*			*Other*
	*Investments*			*Investments*			*Investments*			*Investments*			*Total*
	(In thousands)
Level 3 assets, beginning of period	$	609,068		$	21,131		$	6,850		$	9,183		$	646,232
Purchase of investments		85,782			—			—			45			85,827
Warrants received and classified as Level 3		—			411			—			—			411
Principal payments received on investments		(44,347	)		—			—			(45	)		(44,392	)
Payment-in-kind interest on investments		377			—			—			—			377
Proceeds from sale of investments		(69	)		—			—			—			(69	)
Net realized loss on investments		(33,385	)		(509	)		—			—			(33,894	)
Unrealized appreciation (depreciation) included in earnings		37,574			(2,655	)		(162	)		(5,783	)		28,974
Transfer out of warrant investments		(21,260	)		(73	)		6,789			14,544			—
Other		(456	)		—			—			—			(456	)
Level 3 assets, end of period	$	633,284		$	18,305		$	13,477		$	17,944		$	683,010

During the three months ended September 30, 2024, there were no transfers in or out of Level 3.

The following table shows a reconciliation of the beginning and ending balances for Level 3 assets measured at fair value on a recurring basis for the three months ended September 30, 2023:

	*Three months ended September 30, 2023*
	*Debt*			*Warrant*			*Equity*			*Other*
	*Investments*			*Investments*			*Investments*			*Investments*			*Total*
	(In thousands)
Level 3 assets, beginning of period	$	683,309		$	24,376		$	4,259		$	1,300		$	713,244
Purchase of investments		66,185			—			750			—			66,935
Warrants received and classified as Level 3		—			1,294			—			—			1,294
Principal payments received on investments		(25,726	)		—			—			—			(25,726	)
Payment-in-kind interest on investments		3,934			—			—			—			3,934
Proceeds from sale of investments		(2,528	)		(23	)		(6	)		—			(2,557	)
Net realized (loss) gain on investments		(11,440	)		(118	)		6			—			(11,552	)
Unrealized depreciation included in earnings		(18,877	)		(296	)		(1,349	)		(200	)		(20,722	)
Transfer out of Level 3		(5,000	)		—			—			—			(5,000	)
Transfer out of debt investments		(9,304	)		—			3,150			6,154			—
Other		(715	)		—			—			—			(715	)
Level 3 assets, end of period	$	679,838		$	25,233		$	6,810		$	7,254		$	719,135

During the three months ended September 30, 2023, there was one transfer out of Level 3. The one transfer out of Level 3 related to debt investments held in one portfolio company with an aggregate fair value of $5.0 million that were transferred to Level 1 upon the conversion into shares of common stock of a public company.

The following table shows a reconciliation of the beginning and ending balances for Level 3 assets measured at fair value on a recurring basis for the nine months ended September 30, 2024:

	*Nine months ended September 30, 2024*
	*Debt*			*Warrant*			*Equity*			*Other*
	*Investments*			*Investments*			*Investments*			*Investments*			*Total*
	(In thousands)
Level 3 assets, beginning of period	$	670,172		$	22,975		$	7,281		$	6,430		$	706,858
Purchase of investments		119,564			—			1,250			397			121,211
Warrants received and classified as Level 3		—			1,628			—			—			1,628
Principal payments received on investments		(120,333	)		—			—			(115	)		(120,448	)
Payment-in-kind interest on investments		2,114			—			—			—			2,114
Proceeds from sale of investments		(113	)		(4	)		—			(40	)		(157	)
Net realized (loss) gain on investments		(33,344	)		2,091			—			40			(31,213	)
Unrealized appreciation (depreciation) included in earnings		18,564			(5,631	)		(4,524	)		(6,503	)		1,906
Transfer out of debt and warrant investments		(24,451	)		(2,754	)		9,470			17,735			—
Other		1,111			—			—			—			1,111
Level 3 assets, end of period	$	633,284		$	18,305		$	13,477		$	17,944		$	683,010

During the nine months ended September 30, 2024, there were no transfers in or out of Level 3.

The change in unrealized appreciation included in the consolidated statement of operations attributable to Level 3 investments still held at September 30, 2024 includes $6.0 million in unrealized depreciation on debt and other investments, $4.5 million in unrealized depreciation on equity investments and $0.3 million in unrealized depreciation on warrant investments.

The following table shows a reconciliation of the beginning and ending balances for Level 3 assets measured at fair value on a recurring basis for the nine months ended September 30, 2023:

	*Nine months ended September 30, 2023*
	*Debt*			*Warrant*			*Equity*			*Other*
	*Investments*			*Investments*			*Investments*			*Investments*			*Total*
	(In thousands)
Level 3 assets, beginning of period	$	686,458		$	26,145		$	2,416		$	1,300		$	716,319
Purchase of investments		153,728			—			760			—			154,488
Warrants and equity received and classified as Level 3		—			1,950			89			—			2,039
Principal payments received on investments		(90,222	)		—			—			—			(90,222	)
Payment-in-kind interest on investments		6,088			—			—			—			6,088
Proceeds from sale of investments		(9,564	)		(1,493	)		(6	)		—			(11,063	)
Net realized (loss) gain on investments		(29,105	)		1,028			(121	)		—			(28,198	)
Unrealized depreciation included in earnings		(21,325	)		(2,392	)		(2,467	)		(200	)		(26,384	)
Transfer out of Level 3		(5,000	)		—			(111	)		—			(5,111	)
Transfer out of debt investments		(12,399	)		(5	)		6,250			6,154			—
Other		1,179			—			—			—			1,179
Level 3 assets, end of period	$	679,838		$	25,233		$	6,810		$	7,254		$	719,135

During the nine months ended September 30, 2023, there were two transfers out of Level 3. One transfer out of Level 3 related to equity held in one portfolio company with an aggregate fair value of $0.1 million that was transferred to Level 1 upon the portfolio company becoming a public company. One transfer related to debt investments held in one portfolio company with an aggregate fair value of $5.0 million that were transferred to Level 1 upon the conversion into shares of common stock of a public company.

The change in unrealized depreciation included in the consolidated statement of operations attributable to Level 3 investments still held at September 30, 2023 includes $33.6 million in unrealized depreciation on debt and other investments, $2.1 million in unrealized depreciation on warrant investments and $1.6 million in unrealized depreciation on equity investments.

The Company discloses fair value information about financial instruments, whether or not recognized in the consolidated statement of assets and liabilities, for which it is practicable to estimate that value. Certain financial instruments are excluded from the disclosure requirements. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company.

The fair value amounts have been measured as of the reporting date and have not been reevaluated or updated for purposes of these financial statements subsequent to that date. As such, the fair values of these financial instruments subsequent to the reporting date may be different than amounts reported.

As of September 30, 2024 and December 31, 2023, all of the balances of all the Company’s financial instruments were recorded at fair value, except for the Company’s borrowings, as previously described.

Market risk

The Company assumes interest rate risk (the risk that general interest rate levels will change) as a result of its normal operations. As a result, the fair values of the Company’s financial instruments may change when interest rate levels change, and that change may be either favorable or unfavorable to the Company. Management attempts to match maturities of assets and liabilities to the extent believed necessary to minimize interest rate risk. Management monitors rates and maturities of assets and liabilities and attempts to minimize interest rate risk by adjusting terms of new debt investments and by investing in securities with terms that mitigate the Company’s overall interest rate risk.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

Net asset value at beginning of period (in dollars per share)

Note 11 - Financial Highlights - Financial Highlights (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2024

Sep. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Dec. 31, 2023

$ 9.71

$ 11.47

Net investment income (in dollars per share)

1.06

1.54

Realized gain (loss) (in dollars per share)

(0.89)

(0.95)

Unrealized appreciation (depreciation) on investments (in dollars per share)

0.02

(0.81)

Net increase (decrease) in net assets resulting from operations (in dollars per share)

$ 0.2

$ (0.37)

0.19

(0.22)

Distributions declared (in dollars per share)

^[1]

(1.04)

(0.99)

From net investment income (in dollars per share)

(1.04)

(0.99)

From net realized gain on investments (in dollars per share)

Return of capital (in dollars per share)

Other (in dollars per share)

^[2]

0.2

0.15

Net asset value at end of period (in dollars per share)

9.06

10.41

9.06

10.41

Per share market value, beginning of period (in dollars per share)

13.17

11.6

Per share market value, end of period (in dollars per share)

$ 10.65

$ 11.88

$ 10.65

$ 11.88

Total return based on a market value

^[3]

(11.20%)

10.90%

Shares outstanding at end of period (in shares)

37,803,064

33,306,958

37,803,064

33,306,958

33,367,389

Expenses without incentive fee (4)

^[4]

15.10%

14.00%

Incentive fees

^[4]

0.10%

1.20%

Net expenses

^[4]

15.20%

Net investment income with incentive fee (4)

^[4]

15.00%

18.50%

Net assets at the end of the period

$ 342,533

$ 346,575

$ 342,533

$ 346,575

$ 323,981

Average net asset value

$ 331,853

$ 335,531

$ 331,853

$ 335,531

Average debt per share (in dollars per share)

$ 12.7

$ 14.29

Portfolio turnover ratio

^[5]

13.40%

10.00%

[1]	Distributions are determined based on taxable income calculated in accordance with income tax regulations, which may differ from amounts determined under GAAP due to (i) changes in unrealized appreciation and depreciation, (ii) temporary and permanent differences in income and expense recognition, and (iii) the amount of spillover income carried over from a given tax year for distribution in the following tax year. The final determination of taxable income for each tax year, as well as the tax attributes for distributions in such tax year, will be made after the close of the tax year.
[2]	Includes the impact of the different share amounts as a result of calculating per share data based on the weighted average basic shares outstanding during the period and certain per share data based on the shares outstanding as of a period end or transaction date. The issuance of common stock on a per share basis reflects the incremental net asset value changes as a result of the issuance of common stock in the Company’s continuous public offering and pursuant to the Company’s distribution reinvestment plan. The issuance of common stock at an offering price, net of sales commissions and dealer manager fees, that is greater than the net asset value per share results in an increase in net asset value per share.
[3]	The total return equals the change in the ending market value over the beginning of period price per share plus distributions paid per share during the period, divided by the beginning price.
[4]	Annualized.
[5]	Calculated by dividing (A) the lesser of purchases or sales of portfolio securities for the fiscal year by (B) the monthly average of the value of portfolio securities owned by the Company during the fiscal year, with certain securities excluded from the numerator and denominator pursuant to applicable federal securities laws.

Note 6 - Fair Value (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

	*September 30, 2024*
	*Level 1*		*Level 2*		*Level 3*		*Total*
	(In thousands)
Debt investments	$	—	$	—	$	633,284	$	633,284
Warrant investments		—		430		18,305		18,735
Other investments		—		—		17,944		17,944
Equity investments		560		—		13,477		14,037
Total investments	$	560	$	430	$	683,010	$	684,000

	*December 31, 2023*
	*Level 1*		*Level 2*		*Level 3*		*Total*
	(In thousands)
Debt investments	$	—	$	—	$	670,172	$	670,172
Warrant investments		—		1,619		22,975		24,594
Other investments		—		—		6,430		6,430
Equity investments		608		—		7,281		7,889
Total investments	$	608	$	1,619	$	706,858	$	709,085

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

*September 30, 2024*
	*Fair*		*Valuation Techniques/*	*Unobservable*		*Weighted*
Investment Type	*Value*		*Methodologies*	*Input*	*Range*	*Average(1)*
			(Dollars in thousands, except per share data)
Debt investments	$	597,137	Discounted Expected Future Cash Flows	Hypothetical Market Yield	12% – 20%		14	%

		36,147	Multiple Probability Weighted Cash Flow Model	Probability Weighting	10% - 100%		77	%

Warrant investments		18,305	Black-Scholes Valuation Model	Price Per Share	0.000 –1,898.5858	$	65.35
				Average Industry Volatility	25%		25	%
				Marketability Discount	0 - 20%		17	%
				Estimated Time to Exit (in years)	1 to 5		3

Other investments		17,944	Multiple Probability Weighted Cash Flow Model	Discount Rate	15% – 100%		36	%
				Probability Weighting	30% – 100%		86	%

Equity investments		13,477	Last Equity Financing	Price Per Share	0.000 –14,592.6060	$	3,532.29

Total Level 3 investments	$	683,010

*December 31, 2023*
	*Fair*		*Valuation Techniques/*	*Unobservable*		*Weighted*
Investment Type	*Value*		*Methodologies*	*Input*	*Range*	*Average(1)*
			(Dollars in thousands, except per share data)
Debt investments	$	617,529	Discounted Expected Future Cash Flows	Hypothetical Market Yield	11% – 24%		15	%

		52,643	Multiple Probability Weighted Cash Flow Model	Probability Weighting	20% - 100%		50	%

Warrant investments		22,913	Black-Scholes Valuation Model	Price Per Share	0.000 –1,899.0000	$	64.95
				Average Industry Volatility	25%		25	%
				Marketability Discount	0 - 20%		18	%
				Estimated Time to Exit (in years)	1 to 5		3
		62	Expected Proceeds	Price Per Share	$0.25	$	0.25

Other investments		6,430	Multiple Probability Weighted Cash Flow Model	Discount Rate	25%		25	%
				Probability Weighting	30% – 100%		81	%

Equity investments		7,281	Last Equity Financing	Price Per Share	0.566 –215.0303	$	17.15

Total Level 3 investments	$	706,858

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

	*Three months ended September 30, 2024*
	*Debt*			*Warrant*			*Equity*			*Other*
	*Investments*			*Investments*			*Investments*			*Investments*			*Total*
	(In thousands)
Level 3 assets, beginning of period	$	609,068		$	21,131		$	6,850		$	9,183		$	646,232
Purchase of investments		85,782			—			—			45			85,827
Warrants received and classified as Level 3		—			411			—			—			411
Principal payments received on investments		(44,347	)		—			—			(45	)		(44,392	)
Payment-in-kind interest on investments		377			—			—			—			377
Proceeds from sale of investments		(69	)		—			—			—			(69	)
Net realized loss on investments		(33,385	)		(509	)		—			—			(33,894	)
Unrealized appreciation (depreciation) included in earnings		37,574			(2,655	)		(162	)		(5,783	)		28,974
Transfer out of warrant investments		(21,260	)		(73	)		6,789			14,544			—
Other		(456	)		—			—			—			(456	)
Level 3 assets, end of period	$	633,284		$	18,305		$	13,477		$	17,944		$	683,010

	*Three months ended September 30, 2023*
	*Debt*			*Warrant*			*Equity*			*Other*
	*Investments*			*Investments*			*Investments*			*Investments*			*Total*
	(In thousands)
Level 3 assets, beginning of period	$	683,309		$	24,376		$	4,259		$	1,300		$	713,244
Purchase of investments		66,185			—			750			—			66,935
Warrants received and classified as Level 3		—			1,294			—			—			1,294
Principal payments received on investments		(25,726	)		—			—			—			(25,726	)
Payment-in-kind interest on investments		3,934			—			—			—			3,934
Proceeds from sale of investments		(2,528	)		(23	)		(6	)		—			(2,557	)
Net realized (loss) gain on investments		(11,440	)		(118	)		6			—			(11,552	)
Unrealized depreciation included in earnings		(18,877	)		(296	)		(1,349	)		(200	)		(20,722	)
Transfer out of Level 3		(5,000	)		—			—			—			(5,000	)
Transfer out of debt investments		(9,304	)		—			3,150			6,154			—
Other		(715	)		—			—			—			(715	)
Level 3 assets, end of period	$	679,838		$	25,233		$	6,810		$	7,254		$	719,135

	*Nine months ended September 30, 2024*
	*Debt*			*Warrant*			*Equity*			*Other*
	*Investments*			*Investments*			*Investments*			*Investments*			*Total*
	(In thousands)
Level 3 assets, beginning of period	$	670,172		$	22,975		$	7,281		$	6,430		$	706,858
Purchase of investments		119,564			—			1,250			397			121,211
Warrants received and classified as Level 3		—			1,628			—			—			1,628
Principal payments received on investments		(120,333	)		—			—			(115	)		(120,448	)
Payment-in-kind interest on investments		2,114			—			—			—			2,114
Proceeds from sale of investments		(113	)		(4	)		—			(40	)		(157	)
Net realized (loss) gain on investments		(33,344	)		2,091			—			40			(31,213	)
Unrealized appreciation (depreciation) included in earnings		18,564			(5,631	)		(4,524	)		(6,503	)		1,906
Transfer out of debt and warrant investments		(24,451	)		(2,754	)		9,470			17,735			—
Other		1,111			—			—			—			1,111
Level 3 assets, end of period	$	633,284		$	18,305		$	13,477		$	17,944		$	683,010

	*Nine months ended September 30, 2023*
	*Debt*			*Warrant*			*Equity*			*Other*
	*Investments*			*Investments*			*Investments*			*Investments*			*Total*
	(In thousands)
Level 3 assets, beginning of period	$	686,458		$	26,145		$	2,416		$	1,300		$	716,319
Purchase of investments		153,728			—			760			—			154,488
Warrants and equity received and classified as Level 3		—			1,950			89			—			2,039
Principal payments received on investments		(90,222	)		—			—			—			(90,222	)
Payment-in-kind interest on investments		6,088			—			—			—			6,088
Proceeds from sale of investments		(9,564	)		(1,493	)		(6	)		—			(11,063	)
Net realized (loss) gain on investments		(29,105	)		1,028			(121	)		—			(28,198	)
Unrealized depreciation included in earnings		(21,325	)		(2,392	)		(2,467	)		(200	)		(26,384	)
Transfer out of Level 3		(5,000	)		—			(111	)		—			(5,111	)
Transfer out of debt investments		(12,399	)		(5	)		6,250			6,154			—
Other		1,179			—			—			—			1,179
Level 3 assets, end of period	$	679,838		$	25,233		$	6,810		$	7,254		$	719,135

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References + Details

Note 5 - Transactions With Affiliated Companies (Details Textual)	Sep. 30, 2023
Cadrenal Therapeutics, Inc. [Member] \| Investment, Affiliated Issuer, Noncontrolled [Member]
Equity Ownership, Excluding Consolidated Entity and Equity Method Investee, Percentage	5.00%

Note 5 - Transactions With Affiliated Companies - Investments in Affiliated Companies (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2024

Sep. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Net unrealized appreciation (depreciation) on investments

$ 709,085

$ 29,335

$ (17,518)

864

$ (24,448)

(33,894)

(11,816)

(31,422)

(28,513)

684,000

Investment, Affiliated Issuer, Noncontrolled [Member]

2,114

6,088

15,847

906

1,132

127

234

(1,430)

(1,470)

38,599

Net unrealized appreciation (depreciation) on investments

(6,237)

(19,055)

8,374

(18,149)

8,307

20,485

8,307

20,485

Investment, Affiliated Issuer, Noncontrolled [Member] | Aulea Medical, Inc. [Member]

1,246

(40)

Net unrealized appreciation (depreciation) on investments

Investment, Affiliated Issuer, Noncontrolled [Member] | Evelo Biosciences, Inc. [Member] | Investment One [Member]

3,503

222

(318)

7,665

Net unrealized appreciation (depreciation) on investments

(1,360)

(5,007)

1,921

(5,007)

1,825

2,666

1,825

2,666

Investment, Affiliated Issuer, Noncontrolled [Member] | Evelo Biosciences, Inc. [Member] | Investment Two [Member]

277

5,340

336

127

231

(476)

11,496

Net unrealized appreciation (depreciation) on investments

(2,159)

(7,510)

2,741

(7,510)

2,832

3,997

2,832

3,997

Investment, Affiliated Issuer, Noncontrolled [Member] | Evelo Biosciences, Inc. [Member] | Investment Three [Member]

415

2,101

133

(191)

4,612

Net unrealized appreciation (depreciation) on investments

(815)

(3,013)

1,153

(3,013)

1,095

1,604

1,095

1,604

Investment, Affiliated Issuer, Noncontrolled [Member] | Evelo Biosciences, Inc. [Member] | Investment Four [Member]

166

2,101

133

(191)

4,598

Net unrealized appreciation (depreciation) on investments

(815)

(3,004)

1,153

(3,004)

1,095

1,597

1,095

1,597

Investment, Affiliated Issuer, Noncontrolled [Member] | Evelo Biosciences, Inc. [Member] | Investment Five [Member]

163

1,401

(127)

3,067

Net unrealized appreciation (depreciation) on investments

(544)

(2,003)

769

(2,003)

730

1,068

730

1,068

Investment, Affiliated Issuer, Noncontrolled [Member] | Evelo Biosciences, Inc. [Member] | Investment Six [Member]

114

1,401

(127)

3,067

Net unrealized appreciation (depreciation) on investments

(544)

(2,003)

769

(2,003)

730

1,068

730

1,068

Investment, Affiliated Issuer, Noncontrolled [Member] | Evelo Biosciences, Inc. [Member] | Investment Seven [Member]

111

132

5,000

Net unrealized appreciation (depreciation) on investments

3,485

(132)

3,485

8,485

Investment, Affiliated Issuer, Noncontrolled [Member] | Cadrenal Therapeutics, Inc. [Member]

^[1]

906

^[1]

^[1]

^[1]

(906)

Net unrealized appreciation (depreciation) on investments

^[1]

^[1]

906

^[1]

^[1]

Investment, Affiliated Issuer, Controlled [Member]

^[1]

11,386

14,223

1,290

809

3,767

809

(45)

(592)

6,716

10,818

7,179

10,818

Net unrealized appreciation (depreciation) on investments

165

1,357

(5,416)

1,357

19,731

13,145

19,731

13,145

Investment, Affiliated Issuer, Controlled [Member] | Investment [Member]

216

158

560

158

Investment, Affiliated Issuer, Controlled [Member] | Better Place Forests Co. [Member] | Investment One [Member]

241

166

606

166

3,166

3,339

1,759

Net unrealized appreciation (depreciation) on investments

(53)

1,080

(456)

1,080

3,234

3,005

3,234

3,005

125

111

363

111

Investment, Affiliated Issuer, Controlled [Member] | Better Place Forests Co. [Member] | Investment Two [Member]

119

105

345

105

1,549

1,630

844

Net unrealized appreciation (depreciation) on investments

(26)

536

(222)

536

1,583

1,434

1,583

1,434

184

Investment, Affiliated Issuer, Controlled [Member] | Better Place Forests Co. [Member] | Investment Three [Member]

171

420

500

2,061

Net unrealized appreciation (depreciation) on investments

(32)

489

2,061

489

2,061

Investment, Affiliated Issuer, Controlled [Member] | Better Place Forests Co. [Member] | Investment Four [Member]

415

750

500

750

Net unrealized appreciation (depreciation) on investments

(259)

(33)

(259)

484

491

484

491

Investment, Affiliated Issuer, Controlled [Member] | Better Place Forests Co. [Member] | Investment Five [Member]

500

Net unrealized appreciation (depreciation) on investments

(32)

474

Investment, Affiliated Issuer, Controlled [Member] | Better Place Forests Co. [Member] | Investment Six [Member]

3,024

1,250

Net unrealized appreciation (depreciation) on investments

(4,274)

Investment, Affiliated Issuer, Controlled [Member] | HIMV LLC [Member]

5,836

6,230

227

(45)

(592)

6,154

463

6,154

Net unrealized appreciation (depreciation) on investments

499

(38)

6,290

6,154

6,290

6,154

Investment, Affiliated Issuer, Controlled [Member] | Nexii Building Solutions, Inc [Member] | Investment One [Member]

$ 0

6,716

Net unrealized appreciation (depreciation) on investments

(167)

6,549

Investment, Affiliated Issuer, Controlled [Member] | Nexii Building Solutions, Inc [Member] | Investment Two [Member]

790

Net unrealized appreciation (depreciation) on investments

(162)

628

$ 0

[1]	As of September 30, 2023, the Company no longer owns 5% or more of the portfolio company.

Note 1 - Organization

9 Months Ended

Sep. 30, 2024

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

Note 1. Organization

Horizon Technology Finance Corporation (the “Company”) was organized as a Delaware corporation on March 16, 2010 and is an externally managed, non-diversified, closed-end investment company. The Company has elected to be regulated as a business development company (“BDC”) under the 1940 Act. In addition, for tax purposes, the Company has elected to be treated as a regulated investment company (“RIC”) as defined under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”). As a RIC, the Company generally is not subject to corporate-level federal income tax on the portion of its taxable income (including net capital gains) the Company distributes to its stockholders. The Company primarily makes secured debt investments to development-stage companies in the technology, life science, healthcare information and services and sustainability industries. All of the Company’s debt investments consist of loans secured by all of, or a portion of, the applicable debtor company’s tangible and intangible assets.

On October 28, 2010, the Company completed an initial public offering (“IPO”) and its common stock trades on the Nasdaq Global Select Market under the symbol “HRZN”.

Horizon Credit II LLC (“Credit II”) was formed as a Delaware limited liability company on June 28, 2011, with the Company as its sole equity member. Credit II is a special purpose bankruptcy-remote entity and is a separate legal entity from the Company. Any assets conveyed to Credit II are not available to creditors of the Company or any other entity other than Credit II’s lenders. Credit II is consolidated in the financial statements of the Company.

The Company formed Horizon Funding 2019‑1 LLC (“2019‑1 LLC”) as a Delaware limited liability company on May 2, 2019 and Horizon Funding Trust 2019‑1 as a Delaware statutory trust on May 15, 2019 (“2019‑1 Trust” and, together with the 2019‑1 LLC, the “2019‑1 Entities”). The 2019‑1 Entities are special purpose bankruptcy remote entities and are separate legal entities from the Company. The Company formed the 2019‑1 Entities for purposes of securitizing the term debt securitization in connection with which an affiliate of the Company made an offering of $100.0 million in aggregate principal amount of fixed rate asset-backed notes that were issued in conjunction with the $160.0 million securitization of secured loans the Company completed on August 13, 2019 (the “2019 Asset-Backed Notes”). The 2019-1 Entities were dissolved on February 27, 2024.

Horizon Funding I, LLC (“HFI”) was formed as a Delaware limited liability company on May 9, 2018, with Horizon Secured Loan Fund I LLC, a Delaware limited liability company (“HSLFI”) as its sole member. HFI is a special purpose bankruptcy-remote entity and is a separate legal entity from HSLFI. Any assets conveyed to HFI are not available to creditors of HSLFI or any other entity other than HFI’s lenders. As of April 21, 2020, HSLFI and its subsidiary, HFI, are consolidated in the financial statements of the Company.

The Company formed Horizon Funding 2022‑1 LLC (“2022‑1 LLC”) as a Delaware limited liability company on September 30, 2022 and Horizon Funding Trust 2022‑1 as a Delaware statutory trust on October 18, 2022 (“2022‑1 Trust” and, together with the 2022‑1 LLC, the “2022‑1 Entities”). The 2022‑1 Entities are special purpose bankruptcy remote entities and are separate legal entities from the Company. The Company formed the 2022‑1 Entities for purposes of securitizing the 2022 Asset-Backed Notes. The 2022-1 Entities are consolidated in the financial statements of the Company.

Horizon Funding II, LLC (“HFII”) was formed as a Delaware limited liability company on May 13, 2024, with the Company as its sole equity member. HFII is a special purpose bankruptcy-remote entity and is a separate legal entity from the Company. Any assets conveyed to HFII are not available to creditors of the Company or any other entity other than HFII’s lenders. HFII is consolidated in the financial statements of the Company.

The Company has established wholly owned subsidiaries, which are structured as Delaware limited liability companies, either to hold assets of portfolio companies acquired in connection with a foreclosure or bankruptcy or to hold equity in portfolio companies which the Company may control. Such wholly-owned subsidiaries are separate legal entities from the Company and are consolidated in the financial statements of the Company.

The Company, together with its co-lender to IMV, established HIMV LLC, a Delaware limited liability company to purchase and sell the assets of IMV, a past borrower of the Company. The assets of IMV were sold for (i) the right to receive certain payments, if any, in connection with the potential future development and licensing of the assets sold and (ii) equity in the buyer of such assets. HIMV LLC is 70% owned by the Company and 30% owned by a third-party co-lender.

The Company’s investment strategy is to maximize the investment portfolio’s return by generating current income from the debt investments the Company makes and capital appreciation from the warrants the Company receives when making such debt investments. The Company has entered into an investment management agreement with Horizon Technology Finance Management LLC (the “Advisor”) under which the Advisor manages the day-to-day operations of, and provides investment advisory services to, the Company.

Note 5 - Transactions With Affiliated Companies (Tables)

9 Months Ended

Sep. 30, 2024

Investments in and Advances to Affiliates [Table Text Block]

					*Three months ended September 30, 2024*

	*Fair value at*							*Transfers*				*Net*					*Fair value at*
Portfolio	*June 30,*				*Principal*			*in/(out) at*		*Discount*		*unrealized*			*Net realized*		*September 30,*
Company	*2024*		*Purchases*		*payments*			*fair value*		*accretion*		*gain/(loss)*			*gain/(loss)*		*2024*
	(In thousands)
Aulea Medical, Inc.	$	—	$	—	$	—		$	—	$	—	$	—		$	—	$	—
Evelo Biosciences, Inc.		3,503		—		(318	)		—		—		(1,360	)		—		1,825
		5,340		127		(476	)		—		—		(2,159	)		—		2,832
		2,101		—		(191	)		—		—		(815	)		—		1,095
		2,101		—		(191	)		—		—		(815	)		—		1,095
		1,401		—		(127	)		—		—		(544	)		—		730
		1,401		—		(127	)		—		—		(544	)		—		730
Total non-controlled affiliates	$	15,847	$	127	$	(1,430	)	$	—	$	—	$	(6,237	)	$	—	$	8,307

					*Three months ended September 30, 2023*

	*Fair value at*						*Transfers*					*Net*					*Fair value at*
Portfolio	*June 30,*				*Principal*		*in/(out) at*			*Discount*		*unrealized*			*Net realized*		*September 30,*		*Interest*
Company	*2023*		*Purchases*		*payments*		*fair value*			*accretion*		*gain/(loss)*			*gain/(loss)*		*2023*		*income*
	(In thousands)
Aulea Medical, Inc.	$	—	$	—	$	—	$	—		$	—	$	—		$	—	$	—	$	—
Cadrenal Therapeutics, Inc. (1)		906		—		—		(906	)		—		—			—		—		—
Evelo Biosciences, Inc.		—		—		—		7,665			8		(5,007	)		—		2,666		277
		—		—		—		11,496			11		(7,510	)		—		3,997		415
		—		—		—		4,612			5		(3,013	)		—		1,604		166
		—		—		—		4,598			3		(3,004	)		—		1,597		163
		—		—		—		3,067			4		(2,003	)		—		1,068		114
		—		—		—		3,067			4		(2,003	)		—		1,068		111
		—		—		—		5,000			—		3,485			—		8,485		—
Total non-controlled affiliates	$	906	$	—	$	—	$	38,599		$	35	$	(19,055	)	$	—	$	20,485	$	1,246

					*Nine months ended September 30, 2024*
	*Fair value at*							*Transfers*				*Net*					*Fair value at*
Portfolio	*December 31,*				*Principal*			*in/(out) at*		*Discount*		*unrealized*			*Net realized*		*September 30,*		*Interest*
Company	*2023*		*Purchases*		*payments*			*fair value*		*accretion*		*gain/(loss)*			*gain/(loss)*		*2024*		*income*
	(In thousands)
Aulea Medical, Inc.	$	—	$	3	$	(40	)	$	—	$	—	$	—		$	37	$	—	$	—
Evelo Biosciences, Inc.		222		—		(318	)		—		—		1,921			—		1,825		—
		336		231		(476	)		—		—		2,741			—		2,832		—
		133		—		(191	)		—		—		1,153			—		1,095		—
		133		—		(191	)		—		—		1,153			—		1,095		—
		88		—		(127	)		—		—		769			—		730		—
		88		—		(127	)		—		—		769			—		730		—
		132		—		—			—		—		(132	)		—		—		—
Total non-controlled affiliates	$	1,132	$	234	$	(1,470	)	$	—	$	—	$	8,374		$	37	$	8,307	$	—

					*Nine months ended September 30, 2023*

	*Fair value at*						*Transfers*					*Net*					*Fair value at*
Portfolio	*December 31,*				Principal		*in/(out) at*			*Discount*		*unrealized*			*Net realized*		*September 30,*		*Interest*
Company	*2022*		*Purchases*		*payments*		*fair value*			*accretion*		*gain/(loss)*			*gain/(loss)*		*2023*		*income*
	(In thousands)
Aulea Medical, Inc.	$	—	$	—	$	—	$	—		$	—	$	—		$	—	$	—	$	—
Cadrenal Therapeutics, Inc. (1)		—		—		—		(906	)		—		906			—		—		—
Evelo Biosciences, Inc.		—		—		—		7,665			8		(5,007	)		—		2,666		277
		—		—		—		11,496			11		(7,510	)		—		3,997		415
		—		—		—		4,612			5		(3,013	)		—		1,604		166
		—		—		—		4,598			3		(3,004	)		—		1,597		163
		—		—		—		3,067			4		(2,003	)		—		1,068		114
		—		—		—		3,067			4		(2,003	)		—		1,068		111
		—		—		—		5,000			—		3,485			—		8,485		—
Total non-controlled affiliates	$	—	$	—	$	—	$	38,599		$	35	$	(18,149	)	$	—	$	20,485	$	1,246

					*Three months ended September 30, 2024*

	*Fair value at*									*Transfers*				*Net*					*Fair value at*
Portfolio	*June 30,*				*Principal*					*in/(out) at*		*Discount*		*unrealized*			*Net realized*		*September 30,*		*Interest*
Company	*2024*		*Purchases*		*payments*			*PIK*		*fair value*		*accretion*		*gain/(loss)*			*gain/(loss)*		*2024*		*income*
	(In thousands)
Better Place Forests Co.	$	3,166	$	—	$	—		$	119	$	—	$	2	$	(53	)	$	—	$	3,234	$	125
		1,549		—		—			59		—		1		(26	)		—		1,583		63
		420		—		—			16		—		—		53			—		489		16
		415		—		—			16		—		—		53			—		484		16
		—		500		—			6		—		—		(32	)		—		474		6
HIMV LLC		5,836		—		(45	)		—		—		—		499			—		6,290		—
Nexii, Inc.		—		—		—			—		6,716		—		(167	)		—		6,549		15
		—		790		—			—		—		—		(162	)		—		628		—
Total controlled affiliates	$	11,386	$	1,290	$	(45	)	$	216	$	6,716	$	3	$	165		$	—	$	19,731	$	241

					*Three months ended September 30, 2023*

	*Fair value at*								*Transfers*				*Net*					*Fair value at*
Portfolio	*June 30,*				*Principal*				*in/(out) at*		*Discount*		*unrealized*			*Net realized*		*September 30,*		*Interest*
Company	*2023*		*Purchases*		*payments*		*PIK*		*fair value*		*accretion*		*gain/(loss)*			*gain/(loss)*		*2023*		*income*
	(In thousands)
Better Place Forests Co.	$	—	$	59	$	—	$	105	$	1,759	$	2	$	1,080		$	—	$	3,005	$	111
		—		—		—		53		844		1		536			—		1,434		55
		—		—		—		—		2,061		—		—			—		2,061		—
		—		750		—		—		—		—		(259	)		—		491		—
HIMV LLC		—		—		—		—		6,154		—		—			—		6,154		—
Total controlled affiliates	$	—	$	809	$	—	$	158	$	10,818	$	3	$	1,357		$	—	$	13,145	$	166

					*Nine months ended September 30, 2024*

	*Fair value at*									*Transfers*				*Net*					*Fair value at*
Portfolio	*December 31,*				*Principal*					*in/(out) at*		*Discount*		*unrealized*			*Net realized*		*September 30,*		*Interest*
Company	*2023*		*Purchases*		*payments*			*PIK*		*fair value*		*accretion*		*gain/(loss)*			*gain/(loss)*		*2024*		*income*
	(In thousands)
Better Place Forests Co.	$	3,339	$	—	$	—		$	345	$	—	$	6	$	(456	)	$	—	$	3,234	$	363
		1,630		—		—			171		—		4		(222	)		—		1,583		184
		—		500		—			21		—		—		(32	)		—		489		21
		—		500		—			17		—		—		(33	)		—		484		17
		—		500		—			6		—		—		(32	)		—		474		6
		3,024		1,250		—			—		—		—		(4,274	)		—		—		—
HIMV LLC		6,230		227		(592	)		—		463		—		(38	)		—		6,290		—
Nexii, Inc.		—		—		—			—		6,716		—		(167	)		—		6,549		15
		—		790		—			—		—		—		(162	)		—		628		—
Total controlled affiliates	$	14,223	$	3,767	$	(592	)	$	560	$	7,179	$	10	$	(5,416	)	$	—	$	19,731	$	606

					*Nine months ended September 30, 2023*

	*Fair value at*								*Transfers*				*Net*					*Fair value at*
Portfolio	*December 31,*				*Principal*				*in/(out) at*		*Discount*		*unrealized*			*Net realized*		*September 30,*		*Interest*
Company	*2022*		*Purchases*		*payments*		*PIK*		*fair value*		*accretion*		*gain/(loss)*			*gain/(loss)*		*2023*		*income*
	(In thousands)
Better Place Forests Co.	$	—	$	59	$	—	$	105	$	1,759	$	2	$	1,080		$	—	$	3,005	$	111
		—		—		—		53		844		1		536			—		1,434		55
		—		—		—		—		2,061		—		—			—		2,061		—
		—		750		—		—		—		—		(259	)		—		491		—
HIMV LLC		—		—		—		—		6,154		—		—			—		6,154		—
Total controlled affiliates	$	—	$	809	$	—	$	158	$	10,818	$	3	$	1,357		$	—	$	13,145	$	166

Note 12 - Subsequent Events

9 Months Ended

Sep. 30, 2024

Subsequent Events [Text Block]

Note 12. Subsequent Events

On October 7, 2024, the Company funded a $2.5 million debt investment to an existing portfolio company, Standvast Holdings, LLC.

On October 15, 2025, the Company funded a $0.6 million debt investment to an existing portfolio company, Swift Health Systems, Inc.

On October 17, 2024, the Company entered into a note purchase agreement, by and among the Company, each purchaser named therein, and the investment adviser named therein, in connection with the issuance and sale of $20,000,000 aggregate principal of the Company’s 7.125% Convertible Notes due 2031, par value $25.00 per share (the “Convertible Notes”), in a transaction exempt from registration pursuant to Section 4(a)(2) of the Securities Act of 1933. The Company received net proceeds (before expenses) from the sale of the Convertible Notes of approximately $18.6 million.

The Convertible Notes mature on October 16, 2031, unless earlier converted or repurchased in accordance with their terms. The Convertible Notes bear interest at a rate of 7.125% per year, subject to additional interest or repurchase obligation upon certain events, payable quarterly in arrears on March 31, June 30, September 30 and December 31 of each year, beginning on December 31, 2024. The Convertible Notes may be converted into common stock by the holders of the Convertible Notes at any time after April 17, 2025 at a conversion price equal to the greater of: (i) volume-weighted average closing sale price for the five trading days immediately prior to the relevant conversion date and (ii) the most recently report net asset value per share of the Company’s common stock.

On October 18, 2025, the Company funded a $0.5 million debt investment to an existing portfolio company, Better Place Forests Co.

On October 22, 2024, Monroe Capital LLC (“Monroe Capital”), an affiliate of the Company and the Advisor, announced that Monroe Capital has entered into a definitive agreement with Wendel Group (Euronext: MF:FP) (“Wendel”) relating to Wendel’s strategic investment in Monroe Capital. The transaction is expected to close in the first quarter of 2025, subject to the satisfaction of customary closing conditions, including the receipt of regulatory clearances and approvals and client consents. In connection with the transaction, the Company expects to seek approval of a new investment management agreement between the Company and the Advisor, from the Board and its shareholders, the terms of which are expected to remain substantively similar to the current investment management agreement.

On October 23, 2024, CAMP NYC, Inc. (“CAMP”) prepaid its outstanding principal balance of $2.0 million on its venture loan, plus interest and end-of-term payment. The Company continues to hold warrants in CAMP.

Note 10 - Distributions (Tables)

9 Months Ended

Sep. 30, 2024

Dividends Declared [Table Text Block]

							*DRIP*		*DRIP*
Date			*Amount*		*Cash*		*Shares*		*Share*
Declared	*Record Date*	*Payment Date*	*Per Share*		*Distribution*		*Issued*		*Value*
			(In thousands, except share and per share data)
Nine Months Ended September 30, 2024
July 26, 2024	November 15, 2024	December 13, 2024	$	0.11	$	—		—	$	—
July 26, 2024	October 17, 2024	November 14, 2024		0.11		—		—		—
July 26, 2024	September 16, 2024	October 16, 2024		0.11		3,914		18,539		195
April 26, 2024	August 16, 2024	September 13, 2024		0.11		3,818		17,441		192
April 26, 2024	July 17, 2024	August 15, 2024		0.11		3,775		16,852		192
April 26, 2024	June 17, 2024	July 16, 2024		0.11		3,766		15,860		199
February 23, 2024	June 17, 2024	June 14, 2024		0.11		3,701		16,686		201
February 23, 2024	April 18, 2024	May 15, 2024		0.11		3,654		16,687		199
February 23, 2024	March 19, 2024	April 16, 2024		0.05		1,625		7,598		85
February 23, 2024	March 19, 2024	April 16, 2024		0.11		3,574		16,717		188
			$	1.04	$	27,827		126,380	$	1,451
Year Ended December 31, 2023
October 27, 2023	February 16, 2024	March 15, 2024	$	0.11	$	3,463		18,257	$	210
October 27, 2023	January 18, 2024	February 14, 2024		0.11		3,462		15,873		210
October 27, 2023	December 19, 2023	January 16, 2024		0.11		3,472		14,563		199
October 27, 2023	November 17, 2023	December 15, 2023		0.05		1,574		7,137		93
July 28, 2023	November 17, 2023	December 15, 2023		0.11		3,463		15,701		206
July 28, 2023	October 18, 2023	November 15, 2023		0.11		3,493		14,022		173
July 28, 2023	September 19, 2023	October 16, 2023		0.11		3,445		15,067		184
April 28, 2023	August 17, 2023	September 15, 2023		0.11		3,458		8,665		106
April 28, 2023	July 18, 2023	August 15, 2023		0.11		3,427		8,307		105
April 28, 2023	June 16, 2023	July 14, 2023		0.11		3,434		7,424		96
February 23, 2023	May 18, 2023	June 14, 2023		0.11		3,087		7,128		86
February 23, 2023	April 18, 2023	May 16, 2023		0.11		3,068		6,705		84
February 23, 2023	March 17, 2023	April 14, 2023		0.11		3,035		6,894		81
			$	1.37	$	41,881		145,743	$	1,833

Ex-Dividend Date	*Record Date*	*Payment Date*	*Distributions Declared*
February 18, 2025	February 18, 2025	March 14, 2025	$	0.11
January 16, 2025	January 16, 2025	February 14, 2025	$	0.11
December 16, 2024	December 16, 2024	January 15, 2025	$	0.11

Consolidated Statements of Changes in Net Assets (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Common Stock Outstanding [Member]
Balance (in shares)	36,043,815	32,096,259	33,367,389	27,753,373
Issuance of common stock, net of offering costs (in shares)	1,709,096	1,186,303	4,279,141	5,490,326
Issuance of common stock under dividend reinvestment plan (in shares)	50,153	24,396	156,534	63,259
Balance (in shares)	37,803,064	33,306,958	37,803,064	33,306,958
Common Stock [Member]
Balance	$ 40	$ 34	$ 36	$ 29
Issuance of common stock, net of offering costs	2	1	6	6
Net investment income, net of excise tax	0	0	0	0
Net realized gain (loss) on investments	0	0	0	0
Net unrealized appreciation (depreciation) on investments	0	0	0	0
Issuance of common stock under dividend reinvestment plan	0	0	0	0
Distributions declared	0	0	0	0
Balance	42	35	42	35
Additional Paid-in Capital [Member]
Balance	481,349	437,561	450,949	385,921
Issuance of common stock, net of offering costs	18,413	13,854	47,521	65,025
Net investment income, net of excise tax	0	0	0	0
Net realized gain (loss) on investments	0	0	0	0
Net unrealized appreciation (depreciation) on investments	0	0	0	0
Issuance of common stock under dividend reinvestment plan	583	307	1,875	776
Distributions declared	0	0	0	0
Balance	500,345	451,722	500,345	451,722
Retained Earnings [Member]
Balance	(152,611)	(82,176)	(127,004)	(67,502)
Issuance of common stock, net of offering costs	0	0	0	0
Net investment income, net of excise tax	11,837	17,354	37,357	46,437
Net realized gain (loss) on investments	(33,894)	(11,816)	(31,422)	(28,513)
Net unrealized appreciation (depreciation) on investments	29,335	(17,518)	864	(24,448)
Issuance of common stock under dividend reinvestment plan	0	0	0	0
Distributions declared	(12,521)	(11,026)	(37,649)	(31,156)
Balance	(157,854)	(105,182)	(157,854)	(105,182)
Balance	328,778	355,419	323,981	318,448
Issuance of common stock, net of offering costs	18,415	13,855	47,527	65,031
Net investment income, net of excise tax	11,837	17,354	37,357	46,437
Net realized gain (loss) on investments	(33,894)	(11,816)	(31,422)	(28,513)
Net unrealized appreciation (depreciation) on investments	29,335	(17,518)	864	(24,448)
Issuance of common stock under dividend reinvestment plan	583	307	1,875	776
Distributions declared	(12,521)	(11,026)	(37,649)	(31,156)
Balance	$ 342,533	$ 346,575	$ 342,533	$ 346,575

Note 3 - Related Party Transactions

9 Months Ended

Sep. 30, 2024

Note 3. Related party transactions

Investment Management Agreement

At a meeting of the stockholders convened on May 25, 2023 and reconvened on June 28, 2023, the stockholders approved a new Investment Management Agreement which became effective on June 30, 2023 (the “Investment Management Agreement”) upon the closing of the acquisition of the Advisor by MCH Holdco LLC, an affiliate of Monroe Capital LLC. The new Investment Management Agreement replaced the previously effective Investment Management Agreement dated as of March 7, 2019. Under the terms of the Investment Management Agreement, the Advisor determines the composition of the Company’s investment portfolio, the nature and timing of the changes to the investment portfolio and the manner of implementing such changes; identifies, evaluates and negotiates the structure of the investments the Company makes (including performing due diligence on the Company’s prospective portfolio companies); and closes, monitors and administers the investments the Company makes, including the exercise of any voting or consent rights.

The Advisor’s services under the Investment Management Agreement are not exclusive to the Company, and the Advisor is free to furnish similar services to other entities so long as its services to the Company are not impaired. The Advisor is a registered investment adviser with the SEC. The Advisor receives fees for providing services to the Company under the Investment Management Agreement, consisting of two components, a base management fee and an incentive fee.

The base management fee is calculated at an annual rate of 2.00% of the Company’s gross assets (less cash and cash equivalents) including any assets acquired with the proceeds of leverage; provided, that, to the extent the Company’s gross assets (less cash and cash equivalents) exceed $250 million, the base management fee on the amount of such excess over $250 million will be calculated at an annual rate of 1.60% of the Company’s gross assets (less cash and cash equivalents) including any assets acquired with the proceeds of leverage. The base management fee is payable monthly in arrears and is prorated for any partial month.

The base management fee payable at September 30, 2024 and December 31, 2023 was $1.0 million and $1.1 million, respectively. The base management fee expense was $3.0 million and $3.2 million for the three months ended September 30, 2024 and 2023, respectively. The base management fee expense was $9.2 and $9.6 million for the nine months ended September 30, 2024 and 2023, respectively.

The incentive fee has two parts, as follows:

The first part, which is subject to the Incentive Fee Cap and Deferral Mechanism, as defined below, is calculated and payable quarterly in arrears based on the Company’s Pre-Incentive Fee Net Investment Income for the immediately preceding calendar quarter. For this purpose, “Pre-Incentive Fee Net Investment Income” means interest income, dividend income and any other income (including any other fees (other than fees for providing managerial assistance), such as commitment, origination, structuring, diligence and consulting fees or other fees received from portfolio companies) accrued during the calendar quarter, minus expenses for the quarter (including the base management fee, expenses payable under the Administration Agreement (as defined below), and any interest expense and any dividends paid on any issued and outstanding preferred stock, but excluding the incentive fee). Pre-Incentive Fee Net Investment Income includes, in the case of investments with a deferred interest feature (such as original issue discount, debt instruments with PIK interest and zero coupon securities), accrued income the Company has not yet received in cash. The incentive fee with respect to the Pre-Incentive Fee Net Investment Income is 20.00% of the amount, if any, by which the Pre-Incentive Fee Net Investment Income for the immediately preceding calendar quarter exceeds a hurdle rate of 1.75% (which is 7.00% annualized) of the Company’s net assets at the end of the immediately preceding calendar quarter, adjusted for any share issuances or repurchases during the relevant quarter, subject to a “catch-up” provision measured as of the end of each calendar quarter. Under this provision, in any calendar quarter, the Advisor receives no incentive fee until the Pre-Incentive Fee Net Investment Income equals the hurdle rate of 1.75%, but then receives, as a “catch-up,” 100.00% of the Pre-Incentive Fee Net Investment Income with respect to that portion of such Pre-Incentive Fee Net Investment Income, if any, that exceeds the hurdle rate but is less than 2.1875% quarterly (which is 8.75% annualized). The effect of this “catch-up” provision is that, if Pre-Incentive Fee Net Investment Income exceeds 2.1875% in any calendar quarter, the Advisor will receive 20.00% of the Pre-Incentive Fee Net Investment Income as if the hurdle rate did not apply.

Pre-Incentive Fee Net Investment Income does not include any realized capital gains, realized capital losses or unrealized capital appreciation or depreciation. Because of the structure of the incentive fee, it is possible that the Company may pay an incentive fee in a quarter in which the Company incurs a loss. For example, if the Company receives Pre-Incentive Fee Net Investment Income in excess of the quarterly minimum hurdle rate, the Company will pay the applicable incentive fee up to the Incentive Fee Cap, defined below, even if the Company has incurred a loss in that quarter due to realized and unrealized capital losses. The Company’s net investment income used to calculate this part of the incentive fee is also included in the amount of the Company’s gross assets used to calculate the 2.00% base management fee. These calculations are appropriately prorated for any period of less than three months and adjusted for any share issuances or repurchases during the current quarter.

The incentive fee on Pre-Incentive Fee Net Investment Income is subject to a fee cap and deferral mechanism which is determined based upon a look-back period of up to three years and is expensed when incurred. For this purpose, the look-back period for the incentive fee based on Pre-Incentive Fee Net Investment Income (the “Incentive Fee Look-back Period”) includes the relevant calendar quarter and the 11 preceding full calendar quarters. Each quarterly incentive fee payable on Pre-Incentive Fee Net Investment Income is subject to a cap (the “Incentive Fee Cap”) and a deferral mechanism through which the Advisor may recoup a portion of such deferred incentive fees (collectively, the “Incentive Fee Cap and Deferral Mechanism”). The Incentive Fee Cap is equal to (a) 20.00% of Cumulative Pre-Incentive Fee Net Return (as defined below) during the Incentive Fee Look-back Period less (b) cumulative incentive fees of any kind paid to the Advisor during the Incentive Fee Look-back Period. To the extent the Incentive Fee Cap is zero or a negative value in any calendar quarter, the Company will not pay an incentive fee on Pre-Incentive Fee Net Investment Income to the Advisor in that quarter. To the extent that the payment of incentive fees on Pre-Incentive Fee Net Investment Income is limited by the Incentive Fee Cap, the payment of such fees will be deferred and paid in subsequent calendar quarters up to three years after their date of deferment, subject to certain limitations, which are set forth in the Investment Management Agreement. The Company only pays incentive fees on Pre-Incentive Fee Net Investment Income to the extent allowed by the Incentive Fee Cap and Deferral Mechanism. “Cumulative Pre-Incentive Fee Net Return” during any Incentive Fee Look-back Period means the sum of (a) Pre-Incentive Fee Net Investment Income and the base management fee for each calendar quarter during the Incentive Fee Look-back Period and (b) the sum of cumulative realized capital gains and losses, cumulative unrealized capital appreciation and cumulative unrealized capital depreciation during the applicable Incentive Fee Look-back Period.

The second part of the incentive fee is determined and payable in arrears as of the end of each calendar year (or, upon termination of the Investment Management Agreement, as of the termination date), and equals 20.00% of the Company’s realized capital gains, if any, on a cumulative basis from the date of the election to be a BDC through the end of each calendar year, computed net of all realized capital losses and unrealized capital depreciation on a cumulative basis through the end of such year, less all previous amounts paid in respect of the capital gain incentive fee. However, in accordance with GAAP, the Company is required to include the aggregate unrealized capital appreciation on investments in the calculation and accrue a capital gain incentive fee on a quarterly basis, as if such unrealized capital appreciation were realized, even though such unrealized capital appreciation is not permitted to be considered in calculating the fee actually payable under the Investment Management Agreement.

There was no performance based incentive fee expense for the three months ended September 30, 2024 and 2023. The performance based incentive fee expense was $0.3 million and $3.1 million for the nine months ended September 30, 2024 and 2023, respectively. The incentive fee on Pre-Incentive Fee Net Investment Income was subject to the Incentive Fee Cap and Deferral Mechanism for the three months ended September 30, 2024 and 2023, which resulted in $2.4 million and $3.5 million, respectively, of reduced expense and additional net investment income. The incentive fee on Pre-Incentive Fee Net Investment Income was subject to the Incentive Fee Cap and Deferral Mechanism for the nine months ended September 30, 2024 and 2023, which resulted in $7.2 million and $6.8 million, respectively, of reduced expense and additional net investment income. This deferral represents a contingent future liability and is not accrued until the amount can be reasonably estimated and payment is probable. The remaining deferred amount may be paid up to three years after the date of deferment.

The following table provides the expiration dates of the Company’s Incentive Fee Cap and Deferral Mechanism contingent future liability as of September 30, 2024:

Expiration	*Total*
	(In thousands)
December 31, 2025	$	1,037
March 31, 2026		219
June 30, 2026		3,120
September 30, 2026		3,471
December 31, 2026		3,002
March 31, 2027		2,285
June 30, 2027		2,582
September 30, 2027		2,368
Total	$	18,084

There was no performance based incentive fee payable as of September 30, 2024 and December 31, 2023.

Administration Agreement

The Company entered into an administration agreement (the “Administration Agreement”) with the Advisor to provide administrative services to the Company. For providing these services, facilities and personnel, the Company reimburses the Advisor for the Company’s allocable portion of overhead and other expenses incurred by the Advisor in performing its obligations under the Administration Agreement, including rent, the fees and expenses associated with performing compliance functions and the Company’s allocable portion of the costs of compensation and related expenses of the Company’s Chief Financial Officer and Chief Compliance Officer and their respective staffs. The administrative fee expense was $0.4 million for the three months ended September 30, 2024 and 2023. The administrative fee expense was $1.3 million and $1.2 million for the nine months ended September 30, 2024 and 2023, respectively. The administrative fee payable at September 30, 2024 and December 31, 2023 was $0.4 million. The administrative fee payable is included in other accrued liabilities on the Company's Statement of Assets and Liabilities.

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Note 10 - Distributions

9 Months Ended

Sep. 30, 2024

Equity [Text Block]

Note 10. Distributions

The Company’s distributions are recorded on the declaration date. The following table summarizes the Company’s distribution activity for the nine months ended September 30, 2024 and for the year ended December 31, 2023:

							*DRIP*		*DRIP*
Date			*Amount*		*Cash*		*Shares*		*Share*
Declared	*Record Date*	*Payment Date*	*Per Share*		*Distribution*		*Issued*		*Value*
			(In thousands, except share and per share data)
Nine Months Ended September 30, 2024
July 26, 2024	November 15, 2024	December 13, 2024	$	0.11	$	—		—	$	—
July 26, 2024	October 17, 2024	November 14, 2024		0.11		—		—		—
July 26, 2024	September 16, 2024	October 16, 2024		0.11		3,914		18,539		195
April 26, 2024	August 16, 2024	September 13, 2024		0.11		3,818		17,441		192
April 26, 2024	July 17, 2024	August 15, 2024		0.11		3,775		16,852		192
April 26, 2024	June 17, 2024	July 16, 2024		0.11		3,766		15,860		199
February 23, 2024	June 17, 2024	June 14, 2024		0.11		3,701		16,686		201
February 23, 2024	April 18, 2024	May 15, 2024		0.11		3,654		16,687		199
February 23, 2024	March 19, 2024	April 16, 2024		0.05		1,625		7,598		85
February 23, 2024	March 19, 2024	April 16, 2024		0.11		3,574		16,717		188
			$	1.04	$	27,827		126,380	$	1,451
Year Ended December 31, 2023
October 27, 2023	February 16, 2024	March 15, 2024	$	0.11	$	3,463		18,257	$	210
October 27, 2023	January 18, 2024	February 14, 2024		0.11		3,462		15,873		210
October 27, 2023	December 19, 2023	January 16, 2024		0.11		3,472		14,563		199
October 27, 2023	November 17, 2023	December 15, 2023		0.05		1,574		7,137		93
July 28, 2023	November 17, 2023	December 15, 2023		0.11		3,463		15,701		206
July 28, 2023	October 18, 2023	November 15, 2023		0.11		3,493		14,022		173
July 28, 2023	September 19, 2023	October 16, 2023		0.11		3,445		15,067		184
April 28, 2023	August 17, 2023	September 15, 2023		0.11		3,458		8,665		106
April 28, 2023	July 18, 2023	August 15, 2023		0.11		3,427		8,307		105
April 28, 2023	June 16, 2023	July 14, 2023		0.11		3,434		7,424		96
February 23, 2023	May 18, 2023	June 14, 2023		0.11		3,087		7,128		86
February 23, 2023	April 18, 2023	May 16, 2023		0.11		3,068		6,705		84
February 23, 2023	March 17, 2023	April 14, 2023		0.11		3,035		6,894		81
			$	1.37	$	41,881		145,743	$	1,833

On October 25, 2024, the Board declared monthly distributions per share, payable as set forth in the following table:

Monthly distributions

Ex-Dividend Date	*Record Date*	*Payment Date*	*Distributions Declared*
February 18, 2025	February 18, 2025	March 14, 2025	$	0.11
January 16, 2025	January 16, 2025	February 14, 2025	$	0.11
December 16, 2024	December 16, 2024	January 15, 2025	$	0.11

After paying distributions of $0.33 per share and earning net investment income of $0.32 per share for the quarter, the Company’s undistributed spillover income as of September 30, 2024 was $1.27 per share. Spillover income includes any ordinary income and net capital gains from the preceding tax years that were not distributed during such tax years.

The entire disclosure for equity.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Note 4 - Investments

9 Months Ended

Sep. 30, 2024