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Topco, LLC, First lien 12024-09-300001496099AAH Topco, LLC, First lien 22024-09-300001496099AAH Topco, LLC, First lien 32024-09-300001496099AAH Topco, LLC, First lien 42024-09-300001496099AAH Topco, LLC, Subordinated 12024-09-300001496099AAH Topco, LLC, Subordinated 22024-09-300001496099nmfc:AAHTopcoLLCMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Kaseya Inc., First lien 12024-09-300001496099Kaseya Inc., First lien - Drawn 12024-09-300001496099Kaseya Inc., First lien - Drawn 22024-09-300001496099Kaseya Inc., First lien 22024-09-300001496099nmfc:KaseyaIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099GC Waves Holdings, Inc., First lien 12024-09-300001496099GC Waves Holdings, Inc., First lien 22024-09-300001496099GC Waves Holdings, Inc., First lien 32024-09-300001496099nmfc:GCWavesHoldingsIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099OA Buyer, Inc., First lien 12024-09-300001496099OA Buyer, Inc., First lien 22024-09-300001496099OA Buyer, Inc., First lien 32024-09-300001496099nmfc:OABuyerIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Associations, Inc., First lien2024-09-300001496099Associations, Inc., Subordinated 12024-09-300001496099Associations, Inc., Subordinated 22024-09-300001496099nmfc:AssociationsIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099GS Acquisitionco, Inc., First lien 12024-09-300001496099GS Acquisitionco, Inc., First lien 22024-09-300001496099GS Acquisitionco, Inc., First lien 32024-09-300001496099GS Acquisitionco, Inc., First lien - Drawn2024-09-300001496099nmfc:GSAcquisitioncoIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099iCIMS, Inc., First lien 12024-09-300001496099iCIMS, Inc., First lien 22024-09-300001496099iCIMS, Inc., First lien - Drawn2024-09-300001496099nmfc:ICIMSIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099OEConnection LLC, First lien2024-09-300001496099Model N, Inc., First lien2024-09-300001496099Recorded Future, Inc., First lien2024-09-300001496099Recorded Future, Inc., First lien - Drawn2024-09-300001496099nmfc:RecordedFutureIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Infogain Corporation, First lien 12024-09-300001496099Infogain Corporation, First lien 22024-09-300001496099Infogain Corporation, First lien - Drawn2024-09-300001496099Infogain Corporation, Subordinated2024-09-300001496099nmfc:InfogainCorporationMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Deca Dental Holdings LLC, First lien 12024-09-300001496099Deca Dental Holdings LLC, First lien 22024-09-300001496099Deca Dental Holdings LLC, First lien - Drawn2024-09-300001496099nmfc:DecaDentalHoldingsLLCMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Sierra Enterprises, LLC2024-09-300001496099RealPage, Inc., Second lien2024-09-300001496099Wealth Enhancement Group, LLC, First lien 12024-09-300001496099Wealth Enhancement Group, LLC, First lien 22024-09-300001496099Wealth Enhancement Group, LLC, First lien 32024-09-300001496099Wealth Enhancement Group, LLC, First lien 42024-09-300001496099Wealth Enhancement Group, LLC, First lien 52024-09-300001496099Wealth Enhancement Group, LLC, Subordinated2024-09-300001496099nmfc:WealthEnhancementGroupLLCMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099YLG Holdings, Inc., First lien 12024-09-300001496099YLG Holdings, Inc., First lien 22024-09-300001496099YLG Holdings, Inc., First lien 32024-09-300001496099YLG Holdings, Inc., First lien 42024-09-300001496099YLG Holdings, Inc., First lien 52024-09-300001496099YLG Holdings, Inc., First lien 62024-09-300001496099YLG Holdings, Inc., First lien 72024-09-300001496099YLG Holdings, Inc., First lien 82024-09-300001496099YLG Holdings, Inc., First lien 92024-09-300001496099nmfc:YLGHoldingsIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099MRI Software LLC, First lien 12024-09-300001496099MRI Software LLC, First lien 22024-09-300001496099MRI Software LLC, First lien 32024-09-300001496099MRI Software LLC, First lien 42024-09-300001496099MRI Software LLC, First lien 52024-09-300001496099nmfc:MRISoftwareLLCMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Foreside Financial Group, LLC, First lien 12024-09-300001496099Foreside Financial Group, LLC, First lien 22024-09-300001496099nmfc:ForesideFinancialGroupLLCMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099CentralSquare Technologies, LLC, First lien2024-09-300001496099Auctane Inc. (fka Stamps.com Inc.), First lien 12024-09-300001496099Auctane Inc. (fka Stamps.com Inc.), First lien 22024-09-300001496099nmfc:AuctaneIncFkaStampscomIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099IG Investments Holdings, LLC, First lien 12024-09-300001496099IG Investments Holdings, LLC, First lien 22024-09-300001496099IG Investments Holdings, LLC, First lien 32024-09-300001496099IG Investments Holdings, LLC, First lien 42024-09-300001496099IG Investments Holdings, LLC, First lien 52024-09-300001496099nmfc:IGInvestmentsHoldingsLLCMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099TigerConnect, Inc., First lien2024-09-300001496099TigerConnect, Inc., First lien - Drawn2024-09-300001496099nmfc:TigerConnectIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099PPV Intermediate Holdings, LLC, First lien 12024-09-300001496099PPV Intermediate Holdings, LLC, First lien 22024-09-300001496099nmfc:PPVIntermediateHoldingsLLCMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Fortis Solutions Group, LLC, First lien 12024-09-300001496099Fortis Solutions Group, LLC, First lien 22024-09-300001496099Fortis Solutions Group, LLC, First lien - Drawn 12024-09-300001496099Fortis Solutions Group, LLC, First lien - Drawn 22024-09-300001496099Fortis Solutions Group, LLC, First lien 32024-09-300001496099nmfc:FortisSolutionsGroupLLCMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Bullhorn, Inc., First lien 12024-09-300001496099Bullhorn, Inc., First lien 22024-09-300001496099Bullhorn, Inc., First lien - Drawn 12024-09-300001496099Bullhorn, Inc., First lien 32024-09-300001496099Bullhorn, Inc., First lien - Drawn 22024-09-300001496099Bullhorn, Inc., First lien 42024-09-300001496099Bullhorn, Inc., First lien 52024-09-300001496099nmfc:BullhornIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099ACI Group Holdings, Inc., First lien 12024-09-300001496099ACI Group Holdings, Inc., First lien 22024-09-300001496099ACI Group Holdings, Inc., First lien 32024-09-300001496099ACI Group Holdings, Inc., First lien - Drawn2024-09-300001496099nmfc:ACIGroupHoldingsIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Brave Parent Holdings, Inc., First lien 12024-09-300001496099Brave Parent Holdings, Inc., First lien 22024-09-300001496099Brave Parent Holdings, Inc., First lien - Drawn 12024-09-300001496099Brave Parent Holdings, Inc., First lien - Drawn 22024-09-300001496099nmfc:BraveParentHoldingsIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Foundational Education Group, Inc., Second lien 12024-09-300001496099Foundational Education Group, Inc., Second lien 22024-09-300001496099nmfc:FoundationalEducationGroupIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099NMC Crimson Holdings, Inc., First lien 12024-09-300001496099NMC Crimson Holdings, Inc., First lien 22024-09-300001496099NMC Crimson Holdings, Inc., First lien 32024-09-300001496099nmfc:NMCCrimsonHoldingsIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Nelipak Holding Company, First lien 12024-09-300001496099Nelipak Holding Company, First lien 22024-09-300001496099Nelipak Holding Company, First lien - Drawn2024-09-300001496099nmfc:NelipakHoldingCompanyMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099PetVet Care Centers, LLC, First lien2024-09-300001496099Syndigo LLC, Second lien 12024-09-300001496099Syndigo LLC, Second lien 22024-09-300001496099nmfc:SyndigoLLCMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Pioneer Buyer I, LLC, First lien 12024-09-300001496099Pioneer Buyer I, LLC, First lien 22024-09-300001496099nmfc:PioneerBuyerILLCMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099DOCS, MSO, LLC, First lien 12024-09-300001496099DOCS, MSO, LLC, First lien 22024-09-300001496099nmfc:DOCSMSOLLCMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099AmeriVet Partners Management, Inc., First lien 12024-09-300001496099AmeriVet Partners Management, Inc., First lien 22024-09-300001496099AmeriVet Partners Management, Inc., First lien 32024-09-300001496099nmfc:AmeriVetPartnersManagementIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099HS Purchaser, LLC / Help/Systems Holdings, Inc., Second lien 12024-09-300001496099HS Purchaser, LLC / Help/Systems Holdings, Inc., Second lien 22024-09-300001496099nmfc:HSPurchaserLLCHelpSystemsHoldingsIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Diligent Corporation, First lien 12024-09-300001496099Diligent Corporation, First lien 22024-09-300001496099nmfc:DiligentCorporationMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099FS WhiteWater Borrower, LLC, First lien 12024-09-300001496099FS WhiteWater Borrower, LLC, First lien 22024-09-300001496099FS WhiteWater Borrower, LLC, First lien 32024-09-300001496099FS WhiteWater Borrower, LLC, First lien 42024-09-300001496099nmfc:FSWhiteWaterBorrowerLLCMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Xactly Corporation, First lien2024-09-300001496099Power Grid Holdings, Inc., First lien 12024-09-300001496099Power Grid Holdings, Inc., First lien 22024-09-300001496099nmfc:PowerGridHoldingsInc.Membernmfc:FundedDebtSecuritiesMember2024-09-300001496099TMK Hawk Parent, Corp., First lien 12024-09-300001496099TMK Hawk Parent, Corp., First lien 22024-09-300001496099TMK Hawk Parent, Corp., First lien 32024-09-300001496099TMK Hawk Parent, Corp., Subordinated 12024-09-300001496099TMK Hawk Parent, Corp., Subordinated 22024-09-300001496099nmfc:TMKHawkParentCorpMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Oranje Holdco, Inc., First lien 12024-09-300001496099Oranje Holdco, Inc., First lien 22024-09-300001496099Oranje Holdco, Inc., First lien 32024-09-300001496099nmfc:OranjeHoldcoIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Cardinal Parent, Inc., First lien2024-09-300001496099Cardinal Parent, Inc., Second lien2024-09-300001496099nmfc:CardinalParentIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Trinity Air Consultants Holdings Corporation, First lien2024-09-300001496099Trinity Air Consultants Holdings Corporation, First lien - Drawn2024-09-300001496099nmfc:TrinityAirConsultantsHoldingsCorporationMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Groundworks, LLC, First lien2024-09-300001496099Groundworks, LLC, First lien - Drawn2024-09-300001496099nmfc:GroundworksLLCMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Notorious Topco, LLC, First lien 12024-09-300001496099Notorious Topco, LLC, First lien 22024-09-300001496099Notorious Topco, LLC, First lien 32024-09-300001496099nmfc:NotoriousTopcoLLCMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099DG Investment Intermediate Holdings 2, Inc., Second lien2024-09-300001496099GraphPAD Software, LLC, First lien2024-09-300001496099GraphPAD Software, LLC, First lien - Drawn2024-09-300001496099nmfc:GraphPADSoftwareLLCMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099PDI TA Holdings, Inc., First lien2024-09-300001496099American Achievement Corporation (aka AAC Holding Corp.), First lien 12024-09-300001496099American Achievement Corporation (aka AAC Holding Corp.), First lien 22024-09-300001496099American Achievement Corporation (aka AAC Holding Corp.), Subordinated2024-09-300001496099nmfc:AmericanAchievementCorporationAkaAACHoldingCorpMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Kele Holdco, Inc., First lien 12024-09-300001496099Kele Holdco, Inc., First lien 22024-09-300001496099Kele Holdco, Inc., First lien - Drawn2024-09-300001496099nmfc:KeleHoldcoInc.Membernmfc:FundedDebtSecuritiesMember2024-09-300001496099Avalara, Inc., First lien2024-09-300001496099Idera, Inc., Second lien 12024-09-300001496099Idera, Inc., Second lien 22024-09-300001496099nmfc:IderaIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Coupa Holdings, LLC, First lien2024-09-300001496099IMO Investor Holdings, Inc., First lien 12024-09-300001496099IMO Investor Holdings, Inc., First lien 22024-09-300001496099nmfc:IMOInvestorHoldingsIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Houghton Mifflin Harcourt Company, First lien2024-09-300001496099Daxko Acquisition Corporation, First lien 12024-09-300001496099Daxko Acquisition Corporation, First lien 22024-09-300001496099Daxko Acquisition Corporation, First lien 32024-09-300001496099Daxko Acquisition Corporation, First lien - Drawn2024-09-300001496099nmfc:DaxkoAcquisitionCorporationMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Calabrio, Inc., First lien 12024-09-300001496099Calabrio, Inc., First lien 22024-09-300001496099nmfc:CalabrioIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Convey Health Solutions, Inc., First lien 12024-09-300001496099Convey Health Solutions, Inc., First lien 22024-09-300001496099nmfc:ConveyHealthSolutionsIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Baker Tilly Advisory Group, LP, First lien2024-09-300001496099CFS Management, LLC, First lien 12024-09-300001496099CFS Management, LLC, First lien 22024-09-300001496099nmfc:CFSManagementLLCMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099USRP Holdings, Inc., First lien 12024-09-300001496099USRP Holdings, Inc., First lien 22024-09-300001496099nmfc:USRPHoldingsIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Anaplan, Inc., First lien2024-09-300001496099Project Accelerate Parent, LLC, First lien2024-09-300001496099Virtusa Corporation, Subordinated2024-09-300001496099Specialtycare, Inc., First lien 12024-09-300001496099Specialtycare, Inc., First lien - Drawn2024-09-300001496099Specialtycare, Inc., First lien 22024-09-300001496099nmfc:SpecialtycareIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Ciklum Inc., First lien2024-09-300001496099CG Group Holdings, LLC, First lien2024-09-300001496099CG Group Holdings, LLC, First lien - Drawn2024-09-300001496099nmfc:CGGroupHoldingsLLCMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Planview Parent, Inc., Second lien2024-09-300001496099Safety Borrower Holdings LLC, First lien 12024-09-300001496099Safety Borrower Holdings LLC, First lien 22024-09-300001496099Safety Borrower Holdings LLC, First lien - Drawn2024-09-300001496099nmfc:SafetyBorrowerHoldingsLLCMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Icefall Parent, Inc., First lien2024-09-300001496099KPSKY Acquisition Inc., First lien 12024-09-300001496099KPSKY Acquisition Inc., First lien 22024-09-300001496099KPSKY Acquisition Inc., First lien 32024-09-300001496099KPSKY Acquisition Inc., First lien - Drawn2024-09-300001496099nmfc:KPSKYAcquisitionIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Park Place Technologies, LLC, First lien2024-09-300001496099Park Place Technologies, LLC, First lien - Drawn2024-09-300001496099nmfc:ParkPlaceTechnologiesLLCMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Eclipse Buyer Inc., First lien2024-09-300001496099CRCI Longhorn Holdings, Inc., First lien2024-09-300001496099CRCI Longhorn Holdings, Inc., First lien - Drawn2024-09-300001496099nmfc:CRCILonghornHoldingsIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Alegeus Technologies Holdings Corp., First lien2024-09-300001496099Sun Acquirer Corp., First lien 12024-09-300001496099Sun Acquirer Corp., First lien 22024-09-300001496099nmfc:SunAcquirerCorpMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099PPVA Black Elk (Equity) LLC, Subordinated2024-09-300001496099Greenway Health, LLC, First lien2024-09-300001496099Bamboo Health Holdings, LLC (f/k/a Appriss Health, LLC), First lien2024-09-300001496099Bamboo Health Holdings, LLC (f/k/a Appriss Health, LLC), First lien - Drawn2024-09-300001496099nmfc:BambooHealthHoldingsLLCFkaApprissHealthLLCMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Legends Hospitality Holding Company, LLC, First lien2024-09-300001496099NC Topco, LLC, First lien2024-09-300001496099Higginbotham Insurance Agency, Inc., First lien2024-09-300001496099Higginbotham Insurance Agency, Inc., First lien - Drawn2024-09-300001496099nmfc:HigginbothamInsuranceAgencyInc.Membernmfc:FundedDebtSecuritiesMember2024-09-300001496099Healthspan Buyer, LLC, First lien2024-09-300001496099Michael Baker International, LLC, First lien2024-09-300001496099Adelaide Borrower, LLC, First lien2024-09-300001496099Cube Industrials Buyer Inc., First lien2024-09-300001496099Logrhythm, Inc., First lien2024-09-300001496099RLG Holdings, LLC, First lien2024-09-300001496099CommerceHub, Inc., First lien2024-09-300001496099Project Power Buyer, LLC, First lien2024-09-300001496099Kene Acquisition, Inc., First lien2024-09-300001496099Next Holdco, LLC, First lien2024-09-300001496099CB Buyer, Inc., First lien2024-09-300001496099Geo Parent Corporation, First lien2024-09-300001496099AI Altius US Bidco, Inc., First lien2024-09-300001496099DCA Investment Holding, LLC, First lien 12024-09-300001496099DCA Investment Holding, LLC, First lien 22024-09-300001496099nmfc:DCAInvestmentHoldingLLCMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Galway Borrower LLC, First lien2024-09-300001496099Galway Borrower LLC, First lien - Drawn2024-09-300001496099nmfc:GalwayBorrowerLLCMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Compsych Investments Corp., First lien2024-09-300001496099CoreTrust Purchasing Group LLC, First lien2024-09-300001496099Reorganized Careismatic Brands, LLC, Trust Claim 12024-09-300001496099Reorganized Careismatic Brands, LLC, Trust Claim 22024-09-300001496099nmfc:ReorganizedCareismaticBrandsLLCMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Beacon Pointe Harmony, LLC, First lien - Drawn2024-09-300001496099PPVA Fund, L.P., Collateralized Financing2024-09-300001496099country:USus-gaap:InvestmentUnaffiliatedIssuerMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Tennessee Bidco Limited, First lien 12024-09-300001496099Tennessee Bidco Limited, First lien 22024-09-300001496099Tennessee Bidco Limited, First lien 32024-09-300001496099nmfc:TennesseeBidcoLimitedMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099country:JEus-gaap:InvestmentUnaffiliatedIssuerMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Aston FinCo S.a r.l. / Aston US Finco, LLC, Second lien2024-09-300001496099Integro Parent Inc., First lien 12024-09-300001496099Integro Parent Inc., First lien 22024-09-300001496099Integro Parent Inc., Second lien2024-09-300001496099nmfc:IntegroParentIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099country:GBus-gaap:InvestmentUnaffiliatedIssuerMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Atlas AU Bidco Pty Ltd, First lien 12024-09-300001496099Atlas AU Bidco Pty Ltd, First lien 22024-09-300001496099nmfc:AtlasAUBidcoPtyLtdMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099country:AUus-gaap:InvestmentUnaffiliatedIssuerMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099us-gaap:InvestmentUnaffiliatedIssuerMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Dealer Tire Holdings, LLC, Preferred shares2024-09-300001496099Symplr Software Intermediate Holdings, Inc., Preferred shares 12024-09-300001496099Symplr Software Intermediate Holdings, Inc., Preferred shares 22024-09-300001496099nmfc:SymplrSoftwareIntermediateHoldingsIncMemberus-gaap:EquitySecuritiesMember2024-09-300001496099Knockout Intermediate Holdings I Inc., Preferred shares2024-09-300001496099ACI Parent Inc., Preferred shares2024-09-300001496099Project Essential Super Parent, Inc., Preferred shares2024-09-300001496099Diligent Preferred Issuer, Inc., Preferred shares2024-09-300001496099HB Wealth Management, LLC, Preferred shares2024-09-300001496099OA Topco, L.P., Ordinary shares2024-09-300001496099Eclipse Topco Holdings, Inc. (fka Transcendia Holdings, Inc.), Preferred shares 12024-09-300001496099Eclipse Topco Holdings, Inc. (fka Transcendia Holdings, Inc.), Preferred shares 22024-09-300001496099Eclipse Topco Holdings, Inc. (fka Transcendia Holdings, Inc.), Ordinary shares2024-09-300001496099nmfc:EclipseTopcoHoldingsInc.FkaTranscendiaHoldingsInc.Memberus-gaap:EquitySecuritiesMember2024-09-300001496099FS WhiteWater Holdings, LLC, Ordinary shares2024-09-300001496099Bamboo Health Intermediate Holdings (fka Appriss Health Intermediate Holdings, Inc.), Preferred shares2024-09-300001496099Ambrosia Holdco Corp., Ordinary shares 12024-09-300001496099Ambrosia Holdco Corp., Ordinary shares 22024-09-300001496099nmfc:AmbrosiaHoldcoCorp.Memberus-gaap:EquitySecuritiesMember2024-09-300001496099Pioneer Topco I, L.P., Ordinary shares2024-09-300001496099Eclipse Topco, Inc., Preferred shares2024-09-300001496099GEDC Equity, LLC, Ordinary shares2024-09-300001496099Ancora Acquisition LLC, Preferred shares2024-09-300001496099AAC Lender Holdings, LLC, Ordinary shares2024-09-300001496099country:USus-gaap:InvestmentUnaffiliatedIssuerMemberus-gaap:EquitySecuritiesMember2024-09-300001496099Bach Special Limited (Bach Preference Limited), Preferred shares2024-09-300001496099country:HKus-gaap:InvestmentUnaffiliatedIssuerMemberus-gaap:EquitySecuritiesMember2024-09-300001496099us-gaap:InvestmentUnaffiliatedIssuerMemberus-gaap:EquitySecuritiesMember2024-09-300001496099Reorganized Careismatic Brands, LLC, Warrants 12024-09-300001496099Reorganized Careismatic Brands, LLC, Warrants 22024-09-300001496099nmfc:ReorganizedCareismaticBrandsLLCMemberus-gaap:EquitySecuritiesMember2024-09-300001496099country:USus-gaap:InvestmentUnaffiliatedIssuerMemberus-gaap:WarrantMember2024-09-300001496099us-gaap:InvestmentUnaffiliatedIssuerMembernmfc:FundedSecuritiesMember2024-09-300001496099Compsych Investments Corp., First lien - Undrawn2024-09-300001496099Beacon Pointe Harmony, LLC, First lien - Undrawn2024-09-300001496099American Achievement Corporation (aka AAC Holding Corp.), First lien - Undrawn2024-09-300001496099DOXA Insurance Holdings LLC, First lien - Undrawn2024-09-300001496099AI Altius US Bidco, Inc., First lien - Undrawn2024-09-300001496099Riskonnect Parent, LLC, First lien - Undrawn2024-09-300001496099Higginbotham Insurance Agency, Inc., First lien - Undrawn2024-09-300001496099Safety Borrower Holdings LLC, First lien - Undrawn2024-09-300001496099Project Power Buyer, LLC, First lien - Undrawn2024-09-300001496099CoreTrust Purchasing Group LLC, First lien - Undrawn2024-09-300001496099Next Holdco, LLC, First lien - Undrawn 12024-09-300001496099Next Holdco, LLC, First lien - Undrawn 22024-09-300001496099nmfc:NextHoldcoLLCMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099Bamboo Health Holdings, LLC (f/k/a Appriss Health, LLC), First lien - Undrawn2024-09-300001496099Cube Industrials Buyer Inc., First lien - Undrawn2024-09-300001496099PPV Intermediate Holdings, LLC, First lien - Undrawn2024-09-300001496099Sun Acquirer Corp., First lien - Undrawn2024-09-300001496099Kene Acquisition, Inc., First lien - Undrawn 12024-09-300001496099Kene Acquisition, Inc., First lien - Undrawn 22024-09-300001496099nmfc:KeneAcquisitionInc.Membernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099Logrhythm, Inc., First lien - Undrawn2024-09-300001496099Wealth Enhancement Group, LLC, First lien - Undrawn2024-09-300001496099Adelaide Borrower, LLC, First lien - Undrawn 12024-09-300001496099Adelaide Borrower, LLC, First lien - Undrawn 22024-09-300001496099nmfc:AdelaideBorrowerLLCMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099Icefall Parent, Inc., First lien - Undrawn2024-09-300001496099Kele Holdco, Inc., First lien - Undrawn2024-09-300001496099Project Accelerate Parent, LLC, First lien - Undrawn2024-09-300001496099Bullhorn, Inc., First lien - Undrawn 12024-09-300001496099Bullhorn, Inc., First lien - Undrawn 22024-09-300001496099nmfc:BullhornIncMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099USRP Holdings, Inc., First lien - Undrawn2024-09-300001496099Daxko Acquisition Corporation, First lien - Undrawn2024-09-300001496099PDI TA Holdings, Inc., First lien - Undrawn 12024-09-300001496099PDI TA Holdings, Inc., First lien - Undrawn 22024-09-300001496099nmfc:PDITAHoldingsInc.Membernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099Xactly Corporation, First lien - Undrawn2024-09-300001496099AmeriVet Partners Management, Inc., First lien - Undrawn2024-09-300001496099MRI Software LLC, First lien - Undrawn2024-09-300001496099Calabrio, Inc., First lien - Undrawn2024-09-300001496099Healthspan Buyer, LLC, First lien - Undrawn2024-09-300001496099Coupa Holdings, LLC, First lien - Undrawn 12024-09-300001496099Coupa Holdings, LLC, First lien - Undrawn 22024-09-300001496099nmfc:CoupaHoldingsLLCMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099Brave Parent Holdings, Inc., First lien - Undrawn 12024-09-300001496099Brave Parent Holdings, Inc., First lien - Undrawn 22024-09-300001496099Brave Parent Holdings, Inc., First lien - Undrawn 32024-09-300001496099nmfc:BraveParentHoldingsIncMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099FS WhiteWater Borrower, LLC, First lien - Undrawn2024-09-300001496099IMO Investor Holdings, Inc., First lien - Undrawn2024-09-300001496099Trinity Air Consultants Holdings Corporation, First lien - Undrawn 12024-09-300001496099Trinity Air Consultants Holdings Corporation, First lien - Undrawn 22024-09-300001496099nmfc:TrinityAirConsultantsHoldingsCorporationMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099YLG Holdings, Inc., First lien - Undrawn2024-09-300001496099Avalara, Inc., First lien - Undrawn2024-09-300001496099Fortis Solutions Group, LLC, First lien - Undrawn 12024-09-300001496099Fortis Solutions Group, LLC, First lien - Undrawn 22024-09-300001496099nmfc:FortisSolutionsGroupLLCMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099Foreside Financial Group, LLC, First lien - Undrawn 12024-09-300001496099Foreside Financial Group, LLC, First lien - Undrawn 22024-09-300001496099Foreside Financial Group, LLC, First lien - Undrawn 32024-09-300001496099nmfc:ForesideFinancialGroupLLCMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099Nelipak Holding Company, First lien - Undrawn 12024-09-300001496099Nelipak Holding Company, First lien - Undrawn 22024-09-300001496099Nelipak Holding Company, First lien - Undrawn 32024-09-300001496099Nelipak Holding Company, First lien - Undrawn 42024-09-300001496099nmfc:NelipakHoldingCompanyMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099Kaseya Inc., First lien - Undrawn 12024-09-300001496099Kaseya Inc., First lien - Undrawn 22024-09-300001496099nmfc:KaseyaIncMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099Oranje Holdco, Inc., First lien - Undrawn2024-09-300001496099Infogain Corporation, First lien - Undrawn2024-09-300001496099OEConnection LLC, First lien - Undrawn 12024-09-300001496099OEConnection LLC, First lien - Undrawn 22024-09-300001496099nmfc:OEConnectionLLCMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099Pioneer Buyer I, LLC, First lien - Undrawn2024-09-300001496099GS Acquisitionco, Inc., First lien - Undrawn 12024-09-300001496099GS Acquisitionco, Inc., First lien - Undrawn 22024-09-300001496099nmfc:GSAcquisitioncoIncMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099GC Waves Holdings, Inc., First lien - Undrawn2024-09-300001496099OA Buyer, Inc., First lien - Undrawn2024-09-300001496099AAH Topco, LLC, First lien - Undrawn2024-09-300001496099PetVet Care Centers, LLC, First lien - Undrawn 12024-09-300001496099PetVet Care Centers, LLC, First lien - Undrawn 22024-09-300001496099nmfc:PetVetCareCentersLLCMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099Ciklum Inc., First lien - Undrawn 12024-09-300001496099Ciklum Inc., First lien - Undrawn 22024-09-300001496099nmfc:CiklumInc.Membernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099IG Investments Holdings, LLC, First lien - Undrawn2024-09-300001496099TigerConnect, Inc., First lien - Undrawn 12024-09-300001496099TigerConnect, Inc., First lien - Undrawn 22024-09-300001496099nmfc:TigerConnectIncMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099CentralSquare Technologies, LLC, First lien - Undrawn2024-09-300001496099Recorded Future, Inc., First lien - Undrawn 12024-09-300001496099Recorded Future, Inc., First lien - Undrawn 22024-09-300001496099nmfc:RecordedFutureIncMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099Galway Borrower LLC, First lien - Undrawn2024-09-300001496099CG Group Holdings, LLC, First lien - Undrawn2024-09-300001496099CB Buyer, Inc., First lien - Undrawn 12024-09-300001496099CB Buyer, Inc., First lien - Undrawn 22024-09-300001496099nmfc:CBBuyerInc.Membernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099CRCI Longhorn Holdings, Inc., First lien - Undrawn 12024-09-300001496099CRCI Longhorn Holdings, Inc., First lien - Undrawn 22024-09-300001496099nmfc:CRCILonghornHoldingsIncMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099NC Topco, LLC, First lien - Undrawn 12024-09-300001496099NC Topco, LLC, First lien - Undrawn 22024-09-300001496099nmfc:NCTopcoLLCMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099Associations, Inc., First lien - Undrawn 12024-09-300001496099Associations, Inc., First lien - Undrawn 22024-09-300001496099nmfc:AssociationsIncMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099Park Place Technologies, LLC, First lien - Undrawn 12024-09-300001496099Park Place Technologies, LLC, First lien - Undrawn 22024-09-300001496099nmfc:ParkPlaceTechnologiesLLCMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099Legends Hospitality Holding Company, LLC, First lien - Undrawn 12024-09-300001496099Legends Hospitality Holding Company, LLC, First lien - Undrawn 22024-09-300001496099nmfc:LegendsHospitalityHoldingCompanyLLCMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099Specialtycare, Inc., First lien - Undrawn2024-09-300001496099DOCS, MSO, LLC, First lien - Undrawn2024-09-300001496099GraphPAD Software, LLC, First lien - Undrawn 12024-09-300001496099GraphPAD Software, LLC, First lien - Undrawn 22024-09-300001496099nmfc:GraphPADSoftwareLLCMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099Groundworks, LLC, First lien - Undrawn2024-09-300001496099iCIMS, Inc., First lien - Undrawn 12024-09-300001496099iCIMS, Inc., First lien - Undrawn 22024-09-300001496099nmfc:ICIMSIncMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099Eclipse Buyer Inc., First lien - Undrawn 12024-09-300001496099Eclipse Buyer Inc., First lien - Undrawn 22024-09-300001496099nmfc:EclipseBuyerIncMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099Diligent Corporation, First lien - Undrawn 12024-09-300001496099Diligent Corporation, First lien - Undrawn 22024-09-300001496099nmfc:DiligentCorporationMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099Baker Tilly Advisory Group, LP, First lien - Undrawn 12024-09-300001496099Baker Tilly Advisory Group, LP, First lien - Undrawn 22024-09-300001496099nmfc:BakerTillyAdvisoryGroupLPMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099ACI Group Holdings, Inc., First lien - Undrawn2024-09-300001496099Power Grid Holdings, Inc., First lien - Undrawn2024-09-300001496099KPSKY Acquisition Inc., First lien - Undrawn2024-09-300001496099Notorious Topco, LLC, First lien - Undrawn2024-09-300001496099Model N, Inc., First lien - Undrawn 12024-09-300001496099Model N, Inc., First lien - Undrawn 22024-09-300001496099nmfc:ModelNInc.Membernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099country:USus-gaap:InvestmentAffiliatedIssuerNoncontrolledMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099Atlas AU Bidco Pty Ltd, First lien - Undrawn2024-09-300001496099country:AUus-gaap:InvestmentUnaffiliatedIssuerMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099us-gaap:InvestmentAffiliatedIssuerNoncontrolledMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099Edmentum Ultimate Holdings, LLC, Subordinated2024-09-300001496099Eagle Infrastructure Services, LLC (fka FR Arsenal Holdings II Corp.), First lien 12024-09-300001496099Eagle Infrastructure Services, LLC (fka FR Arsenal Holdings II Corp.), First lien 22024-09-300001496099nmfc:EagleInfrastructureServicesLLCFkaFRArsenalHoldingsIICorpMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099Permian Trust, Trust Claim2024-09-300001496099Permian Trust, First lien2024-09-300001496099nmfc:PermianTrustMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099country:USus-gaap:InvestmentAffiliatedIssuerNoncontrolledMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099TVG-Edmentum Holdings, LLC, Ordinary shares2024-09-300001496099TVG-Edmentum Holdings, LLC, Preferred shares2024-09-300001496099nmfc:TVGEdmentumHoldingsLLCMemberus-gaap:EquitySecuritiesMember2024-09-300001496099Eagle Infrastructure Super HoldCo, LLC, Ordinary shares2024-09-300001496099Sierra Hamilton Holdings Corporation, Ordinary shares 12024-09-300001496099Sierra Hamilton Holdings Corporation, Ordinary shares 22024-09-300001496099nmfc:SierraHamiltonHoldingsCorporationMemberus-gaap:EquitySecuritiesMember2024-09-300001496099country:USus-gaap:InvestmentAffiliatedIssuerNoncontrolledMemberus-gaap:EquitySecuritiesMember2024-09-300001496099New Benevis Holdco, Inc., First lien 12024-09-300001496099New Benevis Holdco, Inc., First lien 22024-09-300001496099New Benevis Holdco, Inc., Subordinated2024-09-300001496099nmfc:NewBenevisHoldcoIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099New Permian Holdco, L.L.C., First lien2024-09-300001496099New Permian Holdco, L.L.C., First lien - Drawn2024-09-300001496099nmfc:NewPermianHoldcoLLCMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099UniTek Global Services, Inc., Second lien 12024-09-300001496099UniTek Global Services, Inc., Second lien 22024-09-300001496099nmfc:UniTekGlobalServicesIncMembernmfc:FundedDebtSecuritiesMember2024-09-300001496099National HME, Inc., Second lien2024-09-300001496099country:USus-gaap:InvestmentAffiliatedIssuerControlledMember2024-09-300001496099NMFC Senior Loan Program III LLC, Membership interest2024-09-300001496099NMFC Senior Loan Program IV LLC, Membership interest2024-09-300001496099NM NL Holdings, L.P., Membership interest2024-09-300001496099New Benevis Topco, LLC, Ordinary shares 12024-09-300001496099New Benevis Topco, LLC, Ordinary shares 22024-09-300001496099nmfc:NewBenevisTopcoLLCMemberus-gaap:EquitySecuritiesMember2024-09-300001496099UniTek Global Services, Inc., Preferred shares 12024-09-300001496099UniTek Global Services, Inc., Preferred shares 22024-09-300001496099UniTek Global Services, Inc., Preferred shares 32024-09-300001496099UniTek Global Services, Inc., Preferred shares 42024-09-300001496099UniTek Global Services, Inc., Preferred shares 52024-09-300001496099UniTek Global Services, Inc., Ordinary shares 12024-09-300001496099UniTek Global Services, Inc., Ordinary shares 22024-09-300001496099nmfc:UniTekGlobalServicesIncMemberus-gaap:EquitySecuritiesMember2024-09-300001496099New Permian Holdco, Inc., Ordinary shares2024-09-300001496099NM CLFX LP, Membership interest2024-09-300001496099NM YI, LLC, Membership interest2024-09-300001496099NM GP Holdco, LLC, Membership interest2024-09-300001496099Haven Midstream Holdings LLC, Ordinary shares2024-09-300001496099Haven Midstream Holdings LLC, Profit Interest2024-09-300001496099nmfc:HavenMidstreamHoldingsLLCMemberus-gaap:EquitySecuritiesMember2024-09-300001496099NHME Holdings Corp., Ordinary shares2024-09-300001496099country:USus-gaap:InvestmentAffiliatedIssuerControlledMemberus-gaap:EquitySecuritiesMember2024-09-300001496099us-gaap:InvestmentAffiliatedIssuerControlledMemberus-gaap:EquitySecuritiesMember2024-09-300001496099UniTek Global Services, Inc., Warrants2024-09-300001496099NHME Holdings Corp., Warrants2024-09-300001496099country:USus-gaap:InvestmentAffiliatedIssuerControlledMemberus-gaap:WarrantMember2024-09-300001496099us-gaap:InvestmentAffiliatedIssuerControlledMembernmfc:FundedSecuritiesMember2024-09-300001496099New Permian Holdco, L.L.C., First lien - Undrawn2024-09-300001496099Haven Midstream LLC, First lien - Undrawn2024-09-300001496099country:USus-gaap:InvestmentAffiliatedIssuerControlledMembernmfc:UnfundedDebtSecuritiesMember2024-09-300001496099Tennessee Bidco Limited, First lien 2024-09-300001496099Nelipak Holding Company First lien 12024-09-300001496099Nelipak Holding Company First lien 22024-09-300001496099Nelipak Holding Company First lien 32024-09-300001496099nmfc:QIDNGLLLCMemberus-gaap:CommonClassBMember2024-01-012024-09-300001496099nmfc:QIDTRHHoldingsLLCMemberus-gaap:CommonClassBMember2024-01-012024-09-300001496099National HME, Inc., Second lien, Tranche A Term Loan2024-09-300001496099National HME, Inc., Second lien, Tranche B Term Loan2024-09-300001496099American Achievement Corporation (aka AAC Holding Corp.), First lien2024-09-300001496099Diamond Parent Holdings Corp, Wholly-owned subsidiaries2024-09-300001496099Diligent Corporation, First lien2024-09-300001496099FS WhiteWater Borrower, LLC, First lien2024-09-300001496099Pioneer Buyer I, LLC, First lien2024-09-300001496099OA Buyer, Inc., First 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Topco, LLC, First lien - Drawn 12023-12-310001496099AAH Topco, LLC, First lien 12023-12-310001496099AAH Topco, LLC, First lien 22023-12-310001496099AAH Topco, LLC, First lien - Drawn 22023-12-310001496099AAH Topco, LLC, Subordinated 12023-12-310001496099AAH Topco, LLC, Subordinated 22023-12-310001496099nmfc:AAHTopcoLLCMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Associations, Inc., First lien 12023-12-310001496099Associations, Inc., First lien 22023-12-310001496099Associations, Inc., First lien 32023-12-310001496099Associations, Inc., First lien 42023-12-310001496099Associations, Inc., First lien 52023-12-310001496099Associations, Inc., First lien 62023-12-310001496099Associations, Inc., First lien - Drawn 2023-12-310001496099nmfc:AssociationsIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Kaseya Inc., First lien 2023-12-310001496099Kaseya Inc., First lien - Drawn 12023-12-310001496099Kaseya Inc., First lien - Drawn 22023-12-310001496099nmfc:KaseyaIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099GC Waves Holdings, Inc., First Lien 12023-12-310001496099GC Waves Holdings, Inc., First Lien 22023-12-310001496099GC Waves Holdings, Inc., First Lien - Drawn2023-12-310001496099nmfc:GCWavesHoldingsIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099GS Acquisitionco, Inc., First Lien 12023-12-310001496099GS Acquisitionco, Inc., First Lien 22023-12-310001496099nmfc:GSAcquisitioncoIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099CentralSquare Technologies, LLC, Second Lien 12023-12-310001496099CentralSquare Technologies, LLC, Second Lien 22023-12-310001496099nmfc:CentralSquareTechnologiesLLCMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Infogain Corporation, First Lien 12023-12-310001496099Infogain Corporation, First Lien 22023-12-310001496099Infogain Corporation, Subordinated2023-12-310001496099nmfc:InfogainCorporationMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099iCIMS, Inc., First Lien 12023-12-310001496099iCIMS, Inc., First Lien 22023-12-310001496099iCIMS, Inc., First Lien 32023-12-310001496099iCIMS, Inc., First Lien - Drawn2023-12-310001496099nmfc:ICIMSIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Deca Dental Holdings LLC, First Lien 12023-12-310001496099Deca Dental Holdings LLC, First Lien 22023-12-310001496099Deca Dental Holdings LLC, First Lien - Drawn2023-12-310001496099nmfc:DecaDentalHoldingsLLCMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099MRI Software LLC, First Lien 12023-12-310001496099MRI Software LLC, First Lien 22023-12-310001496099MRI Software LLC, First Lien 32023-12-310001496099MRI Software LLC, First Lien 42023-12-310001496099MRI Software LLC, First Lien 52023-12-310001496099nmfc:MRISoftwareLLCMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Wealth Enhancement Group, LLC, First lien 12023-12-310001496099Wealth Enhancement Group, LLC, First lien - Drawn2023-12-310001496099Wealth Enhancement Group, LLC, First lien 22023-12-310001496099Wealth Enhancement Group, LLC, First lien 32023-12-310001496099Wealth Enhancement Group, LLC, Subordinated2023-12-310001496099nmfc:WealthEnhancementGroupLLCMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Recorded Future, Inc., First lien 12023-12-310001496099Recorded Future, Inc., First lien 22023-12-310001496099nmfc:RecordedFutureIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Auctane Inc. (fka Stamps.com Inc.), First lien 12023-12-310001496099Auctane Inc. (fka Stamps.com Inc.), First lien 22023-12-310001496099nmfc:AuctaneIncFkaStampscomIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099OEConnection LLC, Second lien 12023-12-310001496099OEConnection LLC, Second lien 22023-12-310001496099nmfc:OEConnectionLLCMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Foreside Financial Group, LLC, First lien 12023-12-310001496099Foreside Financial Group, LLC, First lien - Drawn2023-12-310001496099Foreside Financial Group, LLC, First lien 22023-12-310001496099nmfc:ForesideFinancialGroupLLCMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099KAMC Holdings, Inc., Second lien 12023-12-310001496099KAMC Holdings, Inc., Second lien 22023-12-310001496099nmfc:KAMCHoldingsIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099IG Investments Holdings, LLC, First lien 12023-12-310001496099IG Investments Holdings, LLC, First lien 22023-12-310001496099nmfc:IGInvestmentsHoldingsLLCMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Granicus, Inc., First lien 12023-12-310001496099Granicus, Inc., First lien 22023-12-310001496099Granicus, Inc., First lien 32023-12-310001496099Granicus, Inc., First lien 42023-12-310001496099Granicus, Inc., First lien - Drawn 2023-12-310001496099nmfc:GranicusIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099TigerConnect, Inc., First lien 2023-12-310001496099TigerConnect, Inc., First lien - Drawn2023-12-310001496099nmfc:TigerConnectIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Diligent Corporation, First lien 12023-12-310001496099Diligent Corporation, First lien 22023-12-310001496099Diligent Corporation, First lien 32023-12-310001496099Diligent Corporation, First lien - Drawn 2023-12-310001496099nmfc:DiligentCorporationMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099OA Buyer, Inc., First lien 12023-12-310001496099OA Buyer, Inc., First lien 22023-12-310001496099nmfc:OABuyerIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099NMC Crimson Holdings, Inc., First lien 12023-12-310001496099NMC Crimson Holdings, Inc., First lien - Drawn 2023-12-310001496099NMC Crimson Holdings, Inc., First lien 22023-12-310001496099nmfc:NMCCrimsonHoldingsInc.1Membernmfc:FundedDebtSecuritiesMember2023-12-310001496099Foundational Education Group, Inc., Second lien 12023-12-310001496099Foundational Education Group, Inc., Second lien 22023-12-310001496099nmfc:FoundationalEducationGroupIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Fortis Solutions Group, LLC, First lien 12023-12-310001496099Fortis Solutions Group, LLC, First lien 22023-12-310001496099Fortis Solutions Group, LLC, First lien 32023-12-310001496099Fortis Solutions Group, LLC, First lien - Drawn 12023-12-310001496099Fortis Solutions Group, LLC, First lien - Drawn 22023-12-310001496099Fortis Solutions Group, LLC, First lien 42023-12-310001496099nmfc:FortisSolutionsGroupLLCMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099PetVet Care Centers, LLC, First lien 2023-12-310001496099Syndigo LLC, Second lien 12023-12-310001496099Syndigo LLC, Second lien 22023-12-310001496099nmfc:SyndigoLLCMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099ACI Group Holdings, Inc., First lien 12023-12-310001496099ACI Group Holdings, Inc., First lien 22023-12-310001496099ACI Group Holdings, Inc., First lien - Drawn 12023-12-310001496099ACI Group Holdings, Inc., First lien - Drawn 22023-12-310001496099nmfc:ACIGroupHoldingsIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099CRCI Longhorn Holdings, Inc., Second lien 12023-12-310001496099CRCI Longhorn Holdings, Inc., Second lien 22023-12-310001496099nmfc:CRCILonghornHoldingsIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Idera, Inc., Second lien 12023-12-310001496099Idera, Inc., Second lien 22023-12-310001496099nmfc:IderaIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099AmeriVet Partners Management, Inc., First lien 12023-12-310001496099AmeriVet Partners Management, Inc., First lien 22023-12-310001496099AmeriVet Partners Management, Inc., First lien - Drawn 2023-12-310001496099nmfc:AmeriVetPartnersManagementIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099DOCS, MSO, LLC, First lien 12023-12-310001496099DOCS, MSO, LLC, First lien 22023-12-310001496099nmfc:DOCSMSOLLCMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099HS Purchaser, LLC / Help/Systems Holdings, Inc., Second lien 12023-12-310001496099HS Purchaser, LLC / Help/Systems Holdings, Inc., Second lien 22023-12-310001496099nmfc:HSPurchaserLLCHelpSystemsHoldingsIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Xactly Corporation, First lien 2023-12-310001496099Sierra Enterprises, LLC, First lien 2023-12-310001496099FS WhiteWater Borrower, LLC, First lien 12023-12-310001496099FS WhiteWater Borrower, LLC, First lien - Drawn 12023-12-310001496099FS WhiteWater Borrower, LLC, First lien 22023-12-310001496099FS WhiteWater Borrower, LLC, First lien 32023-12-310001496099FS WhiteWater Borrower, LLC, First lien - Drawn 22023-12-310001496099nmfc:FSWhiteWaterBorrowerLLCMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Bullhorn, Inc., First lien 12023-12-310001496099Bullhorn, Inc., First lien 22023-12-310001496099Bullhorn, Inc., First lien 32023-12-310001496099Bullhorn, Inc., First lien 42023-12-310001496099Bullhorn, Inc., First lien 52023-12-310001496099nmfc:BullhornIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099YLG Holdings, Inc., First lien 12023-12-310001496099YLG Holdings, Inc., First lien 22023-12-310001496099YLG Holdings, Inc., First lien - Drawn 12023-12-310001496099YLG Holdings, Inc., First lien - Drawn 22023-12-310001496099nmfc:YLGHoldingsIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099TMK Hawk Parent, Corp., First lien 12023-12-310001496099TMK Hawk Parent, Corp., First lien 22023-12-310001496099TMK Hawk Parent, Corp., First lien 32023-12-310001496099TMK Hawk Parent, Corp., First lien 42023-12-310001496099nmfc:TMKHawkParentCorpMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099American Achievement Corporation (aka AAC Holding Corp.), First lien 12023-12-310001496099American Achievement Corporation (aka AAC Holding Corp.), First lien 22023-12-310001496099American Achievement Corporation (aka AAC Holding Corp.), Subordinated2023-12-310001496099nmfc:AmericanAchievementCorporationAkaAACHoldingCorpMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099MED Parentco, LP, Second lien 12023-12-310001496099Brave Parent Holdings, Inc., First lien 32023-12-310001496099Cardinal Parent, Inc., First lien 12023-12-310001496099Cardinal Parent, Inc., Second lien 2023-12-310001496099nmfc:CardinalParentIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Convey Health Solutions, Inc., First lien 12023-12-310001496099Convey Health Solutions, Inc., First lien 22023-12-310001496099nmfc:ConveyHealthSolutionsIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Trinity Air Consultants Holdings Corporation, First lien 2023-12-310001496099Trinity Air Consultants Holdings Corporation, First lien - Drawn2023-12-310001496099nmfc:TrinityAirConsultantsHoldingsCorporationMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Groundworks, LLC, First lien 2023-12-310001496099Notorious Topco, LLC, First lien 12023-12-310001496099Notorious Topco, LLC, First lien 22023-12-310001496099Notorious Topco, LLC, First lien - Drawn 12023-12-310001496099Notorious Topco, LLC, First lien - Drawn 22023-12-310001496099nmfc:NotoriousTopcoLLCMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Pioneer Buyer I, LLC, First lien 12023-12-310001496099Pioneer Buyer I, LLC, First lien 22023-12-310001496099nmfc:PioneerBuyerILLCMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099DG Investment Intermediate Holdings 2, Inc., Second lien2023-12-310001496099Power Grid Holdings, Inc., First lien2023-12-310001496099Power Grid Holdings, Inc., First lien - Drawn2023-12-310001496099nmfc:PowerGridHoldingsInc.Membernmfc:FundedDebtSecuritiesMember2023-12-310001496099Avalara, Inc., First lien2023-12-310001496099Coyote Buyer, LLC, First lien 12023-12-310001496099Coyote Buyer, LLC, First lien 22023-12-310001496099nmfc:CoyoteBuyerLLCMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Oranje Holdco, Inc., First lien 12023-12-310001496099Oranje Holdco, Inc., First lien 22023-12-310001496099nmfc:OranjeHoldcoIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099EAB Global, Inc., Second lien2023-12-310001496099Kele Holdco, Inc., First lien 2023-12-310001496099Coupa Holdings, LLC, First lien 12023-12-310001496099Coupa Holdings, LLC, First lien 22023-12-310001496099nmfc:CoupaHoldingsLLCMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Daxko Acquisition Corporation, First lien 12023-12-310001496099Daxko Acquisition Corporation, First lien 22023-12-310001496099Daxko Acquisition Corporation, First lien - Drawn 12023-12-310001496099Daxko Acquisition Corporation, First lien - Drawn 22023-12-310001496099nmfc:DaxkoAcquisitionCorporationMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099IMO Investor Holdings, Inc., First lien 12023-12-310001496099IMO Investor Holdings, Inc., First lien - Drawn 12023-12-310001496099IMO Investor Holdings, Inc., First lien - Drawn 22023-12-310001496099nmfc:IMOInvestorHoldingsIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Alegeus Technologies Holdings Corp., First lien 2023-12-310001496099Calabrio, Inc., First lien 2023-12-310001496099Calabrio, Inc., First lien - Drawn2023-12-310001496099nmfc:CalabrioIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099USRP Holdings, Inc., First lien 12023-12-310001496099USRP Holdings, Inc., First lien 22023-12-310001496099nmfc:USRPHoldingsIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099CFS Management, LLC, First lien 12023-12-310001496099CFS Management, LLC, First lien 22023-12-310001496099nmfc:CFSManagementLLCMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099CHA Holdings, Inc., Second lien 12023-12-310001496099CHA Holdings, Inc., Second lien 22023-12-310001496099nmfc:CHAHoldingsIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Anaplan, Inc., First lien 2023-12-310001496099Specialtycare, Inc., First lien 12023-12-310001496099Specialtycare, Inc., First lien - Drawn 2023-12-310001496099Specialtycare, Inc., First lien 22023-12-310001496099nmfc:SpecialtycareIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Quartz Holding Company, Second lien 2023-12-310001496099CG Group Holdings, LLC, First lien2023-12-310001496099CG Group Holdings, LLC, First lien - Drawn 2023-12-310001496099nmfc:CGGroupHoldingsLLCMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099KPSKY Acquisition Inc., First lien 12023-12-310001496099KPSKY Acquisition Inc., First lien - Drawn 12023-12-310001496099KPSKY Acquisition Inc., First lien 22023-12-310001496099KPSKY Acquisition Inc., First lien - Drawn 22023-12-310001496099nmfc:KPSKYAcquisitionIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Ncontracts, LLC, First lien 2023-12-310001496099Virtusa Corporation, Subordinated 2023-12-310001496099PPVA Black Elk (Equity) LLC, Subordinated 2023-12-310001496099TRC Companies L.L.C. (fka Energize Holdco LLC), Second lien 2023-12-310001496099DS Admiral Bidco, LLC, First lien 2023-12-310001496099PPV Intermediate Holdings, LLC, First lien 2023-12-310001496099Safety Borrower Holdings LLC, First lien 2023-12-310001496099Safety Borrower Holdings LLC, First lien - Drawn 2023-12-310001496099nmfc:SafetyBorrowerHoldingsLLCMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Transcendia Holdings, Inc., Second lien 2023-12-310001496099Community Brands ParentCo, LLC, First lien 2023-12-310001496099Sun Acquirer Corp., First lien 12023-12-310001496099Sun Acquirer Corp., First lien 22023-12-310001496099Sun Acquirer Corp., First lien - Drawn 2023-12-310001496099nmfc:SunAcquirerCorpMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Houghton Mifflin Harcourt Company, First lien 2023-12-310001496099Greenway Health, LLC, First lien 2023-12-310001496099Appriss Health, LLC, First lien 2023-12-310001496099Pye-Barker Fire & Safety, LLC, First lien 2023-12-310001496099Healthspan Buyer, LLC, First lien 2023-12-310001496099Cube Industrials Buyer, Inc., First lien 2023-12-310001496099CommerceHub, Inc., First lien 2023-12-310001496099Project Power Buyer, LLC, First lien 2023-12-310001496099Next Holdco, LLC, First lien 2023-12-310001496099DCA Investment Holding, LLC, First lien 2023-12-310001496099DCA Investment Holding, LLC, First lien - Drawn2023-12-310001496099nmfc:DCAInvestmentHoldingLLCMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099New Trojan Parent, Inc., Second lien 2023-12-310001496099PPVA Fund, L.P., Collateralized Financing2023-12-310001496099country:USus-gaap:InvestmentUnaffiliatedIssuerMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Aston FinCo S.a r.l. / Aston US Finco, LLC, Second lien 2023-12-310001496099Integro Parent Inc., First lien 12023-12-310001496099Integro Parent Inc., First lien 22023-12-310001496099Integro Parent Inc., Second lien 2023-12-310001496099nmfc:IntegroParentIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099country:GBus-gaap:InvestmentUnaffiliatedIssuerMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Tennessee Bidco Limited, First lien 12023-12-310001496099Tennessee Bidco Limited, First lien 22023-12-310001496099Tennessee Bidco Limited, First lien 32023-12-310001496099Tennessee Bidco Limited, First lien 42023-12-310001496099Tennessee Bidco Limited, First lien 52023-12-310001496099nmfc:TennesseeBidcoLimitedMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099country:JEnmfc:TennesseeBidcoLimitedMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Atlas AU Bidco Pty Ltd, First lien 12023-12-310001496099Atlas AU Bidco Pty Ltd, First lien 22023-12-310001496099nmfc:AtlasAUBidcoPtyLtdMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099country:AUus-gaap:InvestmentUnaffiliatedIssuerMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099us-gaap:InvestmentUnaffiliatedIssuerMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Dealer Tire Holdings, LLC, Preferred shares 2023-12-310001496099Symplr Software Intermediate Holdings, Inc. , Preferred shares 12023-12-310001496099Symplr Software Intermediate Holdings, Inc. , Preferred shares 22023-12-310001496099nmfc:SymplrSoftwareIntermediateHoldingsIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Knockout Intermediate Holdings I Inc.,Preferred shares 2023-12-310001496099ACI Parent Inc., Preferred shares 12023-12-310001496099Project Essential Super Parent, Inc., Preferred shares 2023-12-310001496099Diligent Preferred Issuer, Inc., Preferred shares 2023-12-310001496099OEC Holdco, LLC, Preferred shares2023-12-310001496099HB Wealth Management, LLC, Preferred shares 2023-12-310001496099FS WhiteWater Holdings, LLC , Ordinary shares 2023-12-310001496099OA Topco, L.P., Ordinary shares 2023-12-310001496099Appriss Health Intermediate Holdings, Inc., Preferred shares 2023-12-310001496099Pioneer Topco I, L.P. , Ordinary shares 2023-12-310001496099GEDC Equity, LLC, Ordinary shares 2023-12-310001496099Ancora Acquisition LLC, Preferred shares 2023-12-310001496099AAC Lender Holdings, LLC, Ordinary shares 2023-12-310001496099country:USnmfc:AACLenderHoldingsLLCMemberus-gaap:EquitySecuritiesMember2023-12-310001496099Bach Special Limited (Bach Preference Limited), Preferred shares 2023-12-310001496099country:HKus-gaap:InvestmentUnaffiliatedIssuerMemberus-gaap:EquitySecuritiesMember2023-12-310001496099us-gaap:InvestmentUnaffiliatedIssuerMemberus-gaap:EquitySecuritiesMember2023-12-310001496099us-gaap:InvestmentUnaffiliatedIssuerMembernmfc:FundedSecuritiesMember2023-12-310001496099Coupa Holdings, LLC, First lien - Undrawn 12023-12-310001496099Coupa Holdings, LLC, First lien - Undrawn 22023-12-310001496099nmfc:CoupaHoldingsLLCIncludingNettingAdjustmentsMemberus-gaap:EquitySecuritiesMember2023-12-310001496099PetVet Care Centers, LLC, First lien - Undrawn 12023-12-310001496099PetVet Care Centers, LLC, First lien - Undrawn 22023-12-310001496099nmfc:PetVetCareCentersLLCMembernmfc:UnfundedDebtSecuritiesMember2023-12-310001496099American Achievement Corporation (aka AAC Holding Corp.), First lien - Undrawn2023-12-310001496099Safety Borrower Holdings LLC, First lien - Undrawn2023-12-310001496099Project Power Buyer, LLC, First lien - Undrawn2023-12-310001496099Appriss Health, LLC, First lien - Undrawn2023-12-310001496099PPV Intermediate Holdings, LLC, First lien - Undrawn2023-12-310001496099Coyote Buyer, LLC, First lien - Undrawn2023-12-310001496099Bullhorn, Inc., First lien - Undrawn2023-12-310001496099Wealth Enhancement Group, LLC, First lien - Undrawn 12023-12-310001496099Wealth Enhancement Group, LLC, First lien - Undrawn 22023-12-310001496099nmfc:WealthEnhancementGroupLLCMembernmfc:UnfundedDebtSecuritiesMember2023-12-310001496099USRP Holdings, Inc., First lien - Undrawn2023-12-310001496099Daxko Acquisition Corporation, First lien - Undrawn 12023-12-310001496099Daxko Acquisition Corporation, First lien - Undrawn 22023-12-310001496099nmfc:DaxkoAcquisitionCorporationMembernmfc:UnfundedDebtSecuritiesMember2023-12-310001496099Kele Holdco, Inc., First lien - Undrawn2023-12-310001496099Kele Holdco, Inc., First lien - Undrawn2023-12-310001496099Xactly Corporation, First lien - Undrawn2023-12-310001496099AmeriVet Partners Management, Inc., First lien - Undrawn2023-12-310001496099Associations, Inc., First lien - Undrawn2023-12-310001496099Foreside Financial Group, LLC, First lien - Undrawn 12023-12-310001496099Foreside Financial Group, LLC, First lien - Undrawn 22023-12-310001496099nmfc:ForesideFinancialGroupLLCMembernmfc:UnfundedDebtSecuritiesMember2023-12-310001496099Granicus, Inc., First lien - Undrawn 22023-12-310001496099Trinity Air Consultants Holdings Corporation, First lien - Undrawn 12023-12-310001496099Trinity Air Consultants Holdings Corporation, First lien - Undrawn 22023-12-310001496099nmfc:TrinityAirConsultantsHoldingsCorporationMembernmfc:UnfundedDebtSecuritiesMember2023-12-310001496099Pye-Barker Fire & Safety, LLC, First lien - Undrawn2023-12-310001496099Recorded Future, Inc., First lien - Undrawn2023-12-310001496099YLG Holdings, Inc., First lien - Undrawn 12023-12-310001496099YLG Holdings, Inc., First lien - Undrawn 22023-12-310001496099nmfc:YLGHoldingsIncMembernmfc:UnfundedDebtSecuritiesMember2023-12-310001496099Avalara, Inc., First lien - Undrawn2023-12-310001496099iCIMS, Inc., First lien - Undrawn 12023-12-310001496099iCIMS, Inc., First lien - Undrawn 22023-12-310001496099iCIMS, Inc., First lien - Undrawn 32023-12-310001496099nmfc:ICIMSIncMembernmfc:UnfundedDebtSecuritiesMember2023-12-310001496099Kaseya Inc., First lien - Undrawn 12023-12-310001496099Kaseya Inc., First lien - Undrawn 22023-12-310001496099nmfc:KaseyaIncMembernmfc:UnfundedDebtSecuritiesMember2023-12-310001496099Oranje Holdco, Inc., First lien - Undrawn2023-12-310001496099IG Investments Holdings, LLC, First lien - Undrawn2023-12-310001496099GS Acquisitionco, Inc., First lien - Undrawn2023-12-310001496099Pioneer Buyer I, LLC, First lien - Undrawn2023-12-310001496099Infogain Corporation, First lien - Undrawn2023-12-310001496099GC Waves Holdings, Inc., First lien - Undrawn2023-12-310001496099OA Buyer, Inc., First lien - Undrawn2023-12-310001496099AAH Topco, LLC, First lien - Undrawn2023-12-310001496099Next Holdco, LLC, First lien - Undrawn 12023-12-310001496099Next Holdco, LLC, First lien - Undrawn 22023-12-310001496099nmfc:NextHoldcoLLCMembernmfc:UnfundedDebtSecuritiesMember2023-12-310001496099Cube Industrials Buyer, Inc., First lien - Undrawn2023-12-310001496099MRI Software LLC, First lien - Undrawn2023-12-310001496099Calabrio, Inc., First lien - Undrawn2023-12-310001496099Brave Parent Holdings, Inc., First lien - Undrawn 12023-12-310001496099Brave Parent Holdings, Inc.n, First lien - Undrawn 22023-12-310001496099nmfc:BraveParentHoldingsIncMembernmfc:UnfundedDebtSecuritiesMember2023-12-310001496099Deca Dental Holdings LLC, First lien - Undrawn2023-12-310001496099Sun Acquirer Corp., First lien - Undrawn2023-12-310001496099CG Group Holdings, LLC, First lien - Undrawn2023-12-310001496099Ncontracts, LLC, First lien - Undrawn 12023-12-310001496099Ncontracts, LLC, First lien - Undrawn 22023-12-310001496099nmfc:NcontractsLLCMembernmfc:UnfundedDebtSecuritiesMember2023-12-310001496099Healthspan Buyer, LLC, First lien - Undrawn2023-12-310001496099KPSKY Acquisition Inc., First lien - Undrawn2023-12-310001496099Specialtycare, Inc., First lien - Undrawn2023-12-310001496099Groundworks, LLC, First lien - Undrawn 12023-12-310001496099Groundworks, LLC, First lien - Undrawn 22023-12-310001496099nmfc:GroundworksLLCMembernmfc:UnfundedDebtSecuritiesMember2023-12-310001496099FS WhiteWater Borrower, LLC, First lien - Undrawn 12023-12-310001496099FS WhiteWater Borrower, LLC, First lien - Undrawn 22023-12-310001496099nmfc:FSWhiteWaterBorrowerLLCMembernmfc:UnfundedDebtSecuritiesMember2023-12-310001496099IMO Investor Holdings, Inc., First lien - Undrawn 12023-12-310001496099IMO Investor Holdings, Inc., First lien - Undrawn 22023-12-310001496099nmfc:IMOInvestorHoldingsIncMembernmfc:UnfundedDebtSecuritiesMember2023-12-310001496099Diligent Corporation , First lien - Undrawn2023-12-310001496099Community Brands ParentCo, LLC, First lien - Undrawn 12023-12-310001496099Community Brands ParentCo, LLC, First lien - Undrawn 22023-12-310001496099nmfc:CommunityBrandsParentCoLLCMembernmfc:UnfundedDebtSecuritiesMember2023-12-310001496099Power Grid Holdings, Inc., First lien - Undrawn2023-12-310001496099DOCS, MSO, LLC, First lien - Undrawn2023-12-310001496099TigerConnect, Inc., First lien - Undrawn 12023-12-310001496099TigerConnect, Inc., First lien - Undrawn 22023-12-310001496099nmfc:TigerConnectIncMembernmfc:UnfundedDebtSecuritiesMember2023-12-310001496099Fortis Solutions Group, LLC, First lien - Undrawn 12023-12-310001496099Fortis Solutions Group, LLC, First lien - Undrawn 22023-12-310001496099nmfc:FortisSolutionsGroupLLCMembernmfc:UnfundedDebtSecuritiesMember2023-12-310001496099Notorious Topco, LLC, First lien - Undrawn2023-12-310001496099ACI Group Holdings, Inc., First lien - Undrawn 12023-12-310001496099ACI Group Holdings, Inc., First lien - Undrawn 22023-12-310001496099nmfc:ACIGroupHoldingsIncMembernmfc:UnfundedDebtSecuritiesMember2023-12-310001496099country:USus-gaap:InvestmentAffiliatedIssuerNoncontrolledMembernmfc:UnfundedDebtSecuritiesMember2023-12-310001496099Atlas AU Bidco Pty Ltd, First lien - Undrawn2023-12-310001496099country:AUus-gaap:InvestmentUnaffiliatedIssuerMembernmfc:UnfundedDebtSecuritiesMember2023-12-310001496099us-gaap:InvestmentAffiliatedIssuerNoncontrolledMembernmfc:UnfundedDebtSecuritiesMember2023-12-310001496099Edmentum Ultimate Holdings, LLC, Subordinated2023-12-310001496099Eagle Infrastructure Services, LLC (fka FR Arsenal Holdings II Corp.), First lien 12023-12-310001496099Eagle Infrastructure Services, LLC (fka FR Arsenal Holdings II Corp.), First lien 22023-12-310001496099nmfc:EagleInfrastructureServicesLLCFkaFRArsenalHoldingsIICorpMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099Permian Trust, First lien 12023-12-310001496099Permian Trust, First lien 22023-12-310001496099nmfc:PermianTrustMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099country:USus-gaap:InvestmentAffiliatedIssuerNoncontrolledMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099TVG-Edmentum Holdings, LLC, Ordinary shares2023-12-310001496099Eagle Infrastructure Super HoldCo, LLC, Ordinary shares2023-12-310001496099Sierra Hamilton Holdings Corporation, Ordinary shares 12023-12-310001496099Sierra Hamilton Holdings Corporation, Ordinary shares 22023-12-310001496099nmfc:EducationManagementCorporationMemberus-gaap:EquitySecuritiesMember2023-12-310001496099country:USus-gaap:InvestmentAffiliatedIssuerNoncontrolledMemberus-gaap:EquitySecuritiesMember2023-12-310001496099New Benevis Holdco, Inc., First lien 12023-12-310001496099New Benevis Holdco, Inc., First lien 22023-12-310001496099New Benevis Holdco, Inc., First lien 32023-12-310001496099New Benevis Holdco, Inc., Subordinated2023-12-310001496099nmfc:NewBenevisHoldcoIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099New Permian Holdco, L.L.C., First lien2023-12-310001496099New Permian Holdco, L.L.C., First lien - Drawn2023-12-310001496099nmfc:NewPermianHoldcoLLCMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099UniTek Global Services, Inc., Second lien 12023-12-310001496099UniTek Global Services, Inc., Second lien 22023-12-310001496099nmfc:UniTekGlobalServicesIncMembernmfc:FundedDebtSecuritiesMember2023-12-310001496099National HME, Inc., Second lien2023-12-310001496099country:USus-gaap:InvestmentAffiliatedIssuerControlledMembernmfc:NationalHMEIncMember2023-12-310001496099NMFC Senior Loan Program III LLC, Membership interest2023-12-310001496099NMFC Senior Loan Program IV LLC, Membership interest2023-12-310001496099NM NL Holdings, L.P., Membership interest2023-12-310001496099New Benevis Topco, LLC, Ordinary shares 12023-12-310001496099New Benevis Topco, LLC, Ordinary shares 22023-12-310001496099New Benevis Topco, LLC, Ordinary shares 32023-12-310001496099nmfc:NewBenevisTopcoLLCMemberus-gaap:EquitySecuritiesMember2023-12-310001496099UniTek Global Services, Inc., Preferred shares 12023-12-310001496099UniTek Global Services, Inc., Preferred shares 22023-12-310001496099UniTek Global Services, Inc., Preferred shares 32023-12-310001496099UniTek Global Services, Inc., Preferred shares 42023-12-310001496099UniTek Global Services, Inc., Preferred shares 52023-12-310001496099UniTek Global Services, Inc., Ordinary shares 12023-12-310001496099UniTek Global Services, Inc., Ordinary shares 22023-12-310001496099nmfc:UniTekGlobalServicesIncMemberus-gaap:EquitySecuritiesMember2023-12-310001496099New Permian Holdco, Inc., Ordinary shares2023-12-310001496099NM CLFX LP, Membership interest2023-12-310001496099NM YI, LLC, Membership interest2023-12-310001496099Haven Midstream Holdings LLC, Ordinary shares2023-12-310001496099Haven Midstream Holdings LLC, Profit Interest2023-12-310001496099nmfc:HavenMidstreamHoldingsLLCMemberus-gaap:EquitySecuritiesMember2023-12-310001496099NM GP Holdco, LLC, Membership interest2023-12-310001496099NHME Holdings Corp., Ordinary shares2023-12-310001496099country:USus-gaap:InvestmentAffiliatedIssuerControlledMemberus-gaap:EquitySecuritiesMember2023-12-310001496099NM APP Canada Corp., Membership interest2023-12-310001496099country:CAus-gaap:InvestmentAffiliatedIssuerControlledMemberus-gaap:EquitySecuritiesMember2023-12-310001496099us-gaap:InvestmentAffiliatedIssuerControlledMemberus-gaap:EquitySecuritiesMember2023-12-310001496099UniTek Global Services, Inc., Warrants2023-12-310001496099NHME Holdings Corp., Warrants2023-12-310001496099country:USus-gaap:InvestmentAffiliatedIssuerControlledMemberus-gaap:WarrantMember2023-12-310001496099us-gaap:InvestmentAffiliatedIssuerControlledMembernmfc:FundedSecuritiesMember2023-12-310001496099New Permian Holdco, L.L.C., First lien - Undrawn2023-12-310001496099Haven Midstream LLC, First lien - Undrawn2023-12-310001496099country:USus-gaap:InvestmentAffiliatedIssuerControlledMembernmfc:UnfundedDebtSecuritiesMember2023-12-310001496099Tennessee Bidco Limited, First lien 2023-12-310001496099Tennessee Bidco Limited, First lien 2 and Tennessee Bidco Limited, First lien 52023-12-310001496099nmfc:QIDNGLLLCMemberus-gaap:CommonClassBMember2023-01-012023-12-310001496099nmfc:QIDTRHHoldingsLLCMemberus-gaap:CommonClassBMember2023-01-012023-12-310001496099OEConnection LLC, Second lien2023-12-310001496099OEC Holdco, LLC, Preferred shares2023-01-012023-12-310001496099Appriss Health Holdings, Inc, Wholly-owned subsidiaries2023-12-310001496099Appriss Health Intermediate Holdings, Inc., Preferred shares2023-01-012023-12-310001496099TVG-Edmentum Holdings, LLC, Ordinary shares2023-01-012023-12-310001496099National HME, Inc., Second lien, Tranche A Term Loan2023-12-310001496099National HME, Inc., Second lien, Tranche B Term Loan2023-12-310001496099Diamond Parent Holdings Corp, Wholly-owned subsidiaries2023-12-310001496099Diligent Corporation, First lien2023-12-310001496099Diligent Preferred Issuer, Inc., Preferred shares2023-01-012023-12-310001496099ACI Parent Inc., Preferred shares2023-01-012023-12-310001496099Knockout Intermediate Holdings I, Preferred 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HME, Inc., Second lien, Non-accrual status2024-07-012024-09-300001496099National HME, Inc., Second lien, Non-accrual status2024-01-012024-09-300001496099American Achievement Corporation (aka AAC Holding Corp.), Subordinated, Non-accrual status2021-03-310001496099American Achievement Corporation (aka AAC Holding Corp.), First lien, Non-accrual status2021-09-300001496099American Achievement Corporation (aka AAC Holding Corp.), First lien, Non-accrual status2023-09-300001496099American Achievement Corporation (aka AAC Holding Corp.), Non-accrual status2024-09-300001496099American Achievement Corporation (aka AAC Holding Corp.), Non-accrual status2024-07-012024-09-300001496099American Achievement Corporation (aka AAC Holding Corp.), Non-accrual status2024-01-012024-09-300001496099UniTek Global Services, Inc., Junior preferred shares, Non-accrual status2024-09-300001496099UniTek Global Services, Inc., Junior preferred shares, Non-accrual status2024-07-012024-09-300001496099UniTek Global Services, Inc., Junior preferred shares, Non-accrual status2024-01-012024-09-300001496099UniTek Global Services, Inc., Senior preferred shares, Non-accrual status2021-09-300001496099UniTek Global Services, Inc., Senior preferred shares, Non-accrual status2024-09-300001496099UniTek Global Services, Inc., Senior preferred shares, Non-accrual status2024-07-012024-09-300001496099UniTek Global Services, Inc., Senior preferred shares, Non-accrual status2024-01-012024-09-300001496099Eclipse Topco Holdings, Inc., Junior preferred shares, Non-accrual status2024-09-300001496099Eclipse Topco Holdings, Inc., Junior preferred shares, Non-accrual status2024-07-012024-09-300001496099Eclipse Topco Holdings, Inc., Junior preferred shares, Non-accrual status2024-01-012024-09-300001496099PPVA Black Elk (Equity) LLC, Subordinated2013-05-030001496099PPVA Black Elk (Equity) LLC, 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Portfolio Company Investment2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberLargest Portfolio Company Investment2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberTop Five Largest Portfolio Company Investments2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberTop Five Largest Portfolio Company Investments2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberADMI Corp. (aka Aspen Dental), First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberAG Parent Holdings, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberArdonagh Midco 3 Limited, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberAretec Group, Inc. (fka RCS Capital Corporation), First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberAscensus Group Holdings, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberAssuredPartners, Inc, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberAston FinCo S.a r.l., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberAsurion, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberathenahealth Group Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberBach Finance Limited, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberBayou Intermediate II, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberBCPE Empire Holdings, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberBella Holding Company, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberBIFM CA Buyer Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberBoxer Parent Company Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberBracket Intermediate Holding Corp., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberBrown Group Holding, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberBW Holding, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberCardinal Parent, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberCE Intermediate I, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberChrysaor Bidco S.a r.l., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberCloudera, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberCommerceHub, Inc. 1, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberCommerceHub, Inc. 2, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberConfluent Health, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberConfluent Medical Technologies, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberConnectWise, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberConvey Health Solutions, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberCornerstone OnDemand, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberCVET Midco 2, L.P., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberDealer Tire Financial, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberDG Investment Intermediate Holdings 2, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberDiscovery Purchaser Corporation, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberDispatch Acquisition Holdings, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberEAB Global, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberEagle Parent Corp., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberEisner Advisory Group LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMembereResearchTechnology, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberFlash Charm, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberFoundational Education Group, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberGroundworks, LLC 1, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberGroundworks, LLC 2, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberHeartland Dental, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberHelp/Systems Holdings, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberHigginbotham Insurance Agency, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberHighTower Holding, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberHoughton Mifflin Harcourt Company, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberInizio Group Limited, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberKestra Advisor Services Holdings A, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberLI Group Holdings, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberLSCS Holdings, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberMarcel Bidco LLC (Marcel Bidco GmbH), First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberMaverick Bidco Inc. 1, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberMaverick Bidco Inc. 2, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberMaverick Bidco Inc. 3, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberMavis Tire Express Services Topco, Corp., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberMED ParentCo, LP, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberMH Sub I, LLC (Micro Holding Corp.), First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberNielsen Consumer Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberOMNIA Partners, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberOsaic Holdings, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberOsmosis Buyer Limited, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberPearls (Netherlands) Bidco B.V., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberPeraton Corp., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberPerforce Software, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberPhysician Partners, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberPlano Holdco, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberPlanview Parent, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberProject Alpha Intermediate Holding, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberProject Ruby Ultimate Parent Corp., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberPushpay USA Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberQuartz Holding Company, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberRealPage, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberRenaissance Holding Corp., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberRLG Holdings, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberRxB Holdings, Inc. 1, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberRxB Holdings, Inc. 2, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberSierra Enterprises, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberSpring Education Group, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberStorable, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberSymplr Software, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberSyndigo LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberTherapy Brands Holdings LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberThermostat Purchaser III, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberTMF Sapphire Bidco B.V., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberTRC Companies LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberUKG Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberValcour Packaging, LLC 1, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberValcour Packaging, LLC 2, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberVSTG Intermediate Holdings, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberWatchGuard Technologies, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberWrench Group LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberXplor T1, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberZest Acquisition Corp., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMembernmfc:FundedSecuritiesMember2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberChrysaor Bidco S.a r.l.,. First lien - Unfunded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberDG Investment Intermediate Holdings 2, Inc., First lien - Unfunded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberGroundworks, LLC, First lien - Unfunded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMembernmfc:UnfundedSecuritiesMember2024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberADMI Corp. (aka Aspen Dental), First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberAG Parent Holdings, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberAretec Group, Inc. (fka RCS Capital Corporation), First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberArtera Services, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberAscensus Group Holdings, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberAssuredPartners, Inc, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberAston FinCo S.a r.l., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberathenahealth Group Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberBCPE Empire Holdings, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberBella Holding Company, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberBoxer Parent Company Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberBracket Intermediate Holding Corp., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberBrown Group Holding, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberCardinal Parent, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberCE Intermediate I, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberCentralSquare Technologies, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberCHA Holdings, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberCloudera, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberCommerceHub, Inc., First lien - Funded 12023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberCommerceHub, Inc., First lien - Funded 22023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberConfluent Health, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberConfluent Medical Technologies, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberConvey Health Solutions, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberCornerstone OnDemand, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberCovenant Surgical Partners, Inc., First lien - Funded 12023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberCovenant Surgical Partners, Inc., First lien - Funded 22023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberCRCI Longhorn Holdings, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberCVET Midco 2, L.P., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberDealer Tire Financial, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberDG Investment Intermediate Holdings 2, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberDiscovery Purchaser Corporation, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberDispatch Acquisition Holdings, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberEAB Global, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberEagle Parent Corp., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberEisner Advisory Group LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMembereResearchTechnology, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberEyeCare Partners, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberFoundational Education Group, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberGroundworks, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberHeartland Dental, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberHelp/Systems Holdings, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberHigginbotham Insurance Agency, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberHighTower Holding, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberHoughton Mifflin Harcourt Company, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberHub International Limited, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberHunter Holdco 3 Limited, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberIdera, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberKestra Advisor Services Holdings A, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberLI Group Holdings, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberLSCS Holdings, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberMarcel Bidco LLC (Marcel Bidco GmbH), First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberMaverick Bidco Inc., First lien - Funded 12023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberMaverick Bidco Inc., First lien - Funded. 22023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberMaverick Bidco Inc., First lien - Funded 32023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberMavis Tire Express Services Topco Corp., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberMED ParentCo, LP, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberMH Sub I, LLC (Micro Holding Corp.), First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberNetsmart, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberNielsen Consumer Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberOMNIA Partners, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberOptiv Parent Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberOsaic Holdings, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberOsmosis Buyer Limited, First lien - Funded 12023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberOsmosis Buyer Limited, First lien - Funded 22023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberPearls (Netherlands) Bidco B.V., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberPeraton Corp., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberPhysician Partners, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberPlanview Parent, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberPremise Health Holding Corp., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberProject Alpha Intermediate Holding, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberProject Ruby Ultimate Parent Corp., First lien - Funded 12023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberProject Ruby Ultimate Parent Corp., First lien - Funded 22023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberRealPage, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberRenaissance Holding Corp., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberRLG Holdings, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberRxB Holdings, Inc., First lien - Funded 12023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberRxB Holdings, Inc., First lien - Funded 22023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberSierra Enterprises, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberSnap One Holdings Corp., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberSpring Education Group, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberStorable, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberSymplr Software, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberSyndigo LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberTherapy Brands Holdings LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberThermostat Purchaser III, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberTMF Sapphire Bidco B.V., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberTRC Companies LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberUKG Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberUSI, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberValcour Packaging, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberWatchGuard Technologies, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberWaystar Technologies, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberWrench Group LLC, First lien - Funded 12023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberWrench Group LLC, First lien - Funded 22023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberZest Acquisition Corp., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMembernmfc:FundedSecuritiesMember2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberGroundworks, LLC, First lien - Unfunded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberOMNIA Partners, LLC, First lien - Unfunded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMemberOsmosis Buyer Limited, First lien - Unfunded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMembernmfc:UnfundedSecuritiesMember2023-12-310001496099nmfc:NMFCSeniorLoanProgramIIILLCMember2024-07-012024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMember2023-07-012023-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMember2023-01-012023-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMember2024-07-012024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMember2024-01-012024-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMember2023-07-012023-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMember2023-01-012023-09-300001496099nmfc:NMFCSeniorLoanProgramIIILLCMember2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMember2024-01-012024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMember2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMembernmfc:SkyKnightIncomeAlphaLLCMember2024-09-300001496099us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMembernmfc:NMFCSeniorLoanProgramIVLLCMember2021-05-050001496099us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberus-gaap:SecuredOvernightFinancingRateSofrMembernmfc:NMFCSeniorLoanProgramIVLLCMember2024-03-272024-03-270001496099us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberus-gaap:SecuredOvernightFinancingRateSofrMembernmfc:NMFCSeniorLoanProgramIVLLCMember2023-04-282024-03-270001496099us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMembernmfc:LondonInterbankOfferedRateLIBOR1Membernmfc:NMFCSeniorLoanProgramIVLLCMember2023-04-272023-04-270001496099nmfc:NMFCSeniorLoanProgramIVLLCMember2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMember2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberus-gaap:RevolvingCreditFacilityMember2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberus-gaap:RevolvingCreditFacilityMember2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberus-gaap:DelayedDrawTermLoanMember2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberus-gaap:DelayedDrawTermLoanMember2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMembersrt:WeightedAverageMember2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMembersrt:WeightedAverageMember2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberLargest Portfolio Company Investment2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberLargest Portfolio Company Investment2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberTop Five Largest Portfolio Company Investments2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberTop Five Largest Portfolio Company Investments2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberADG, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberADMI Corp. (aka Aspen Dental), First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberAretec Group, Inc. (fka RCS Capital Corporation), First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberAscensus Group Holdings, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberAsurion, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberathenahealth Group Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberBach Finance Limited, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberBarracuda Parent, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberBayou Intermediate II, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberBCPE Empire Holdings, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberBella Holding Company, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberBIFM CA Buyer Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberBleriot US Bidco Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberBoxer Parent Company Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberBracket Intermediate Holding Corp., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberBW Holding, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberCE Intermediate I, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberChrysaor Bidco S.a r.l., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberCloudera, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberCommerceHub, Inc. 1, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberCommerceHub, Inc. 2, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberConfluent Health, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberConfluent Medical Technologies, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberConvey Health Solutions, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberCornerstone OnDemand, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberCVET Midco 2, L.P., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberDealer Tire Financial, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberDiscovery Purchaser Corporation, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberDispatch Acquisition Holdings, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberEAB Global, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberEagle Parent Corp., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberEisner Advisory Group LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMembereResearchTechnology, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberFlash Charm, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberFoundational Education Group, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberGeo Parent Corporation, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberGroundworks, LLC 1, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberGroundworks, LLC 2, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberHeartland Dental, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberHelp/Systems Holdings, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberHoughton Mifflin Harcourt Company, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberInizio Group Limited, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberKestra Advisor Services Holdings A, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberLSCS Holdings, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberMandolin Technology Intermediate Holdings, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberMarcel Bidco LLC (Marcel Bidco GmbH), First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberMaverick Bidco Inc. 1, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberMaverick Bidco Inc. 2, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberMavis Tire Express Services Topco, Corp., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberMED ParentCo, LP, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberMH Sub I, LLC (Micro Holding Corp.), First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberNielsen Consumer Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberOMNIA Partners, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberOsaic Holdings, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberOsmosis Buyer Limited, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberPearls (Netherlands) Bidco B.V., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberPerforce Software, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberPhysician Partners, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberProject Alpha Intermediate Holding, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberProject Ruby Ultimate Parent Corp., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberQuartz Holding Company, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberRealPage, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberRenaissance Holding Corp., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberRxB Holdings, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberSierra Enterprises, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberSpring Education Group, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberSTATS Intermediate Holdings, LLC 1, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberSTATS Intermediate Holdings, LLC 2, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberStorable, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberSymplr Software, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberSyndigo LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberTherapy Brands Holdings LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberThermostat Purchaser III, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberTRC Companies LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberValcour Packaging, LLC 1 First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberValcour Packaging, LLC 2, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberVSTG Intermediate Holdings, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberVT Topco, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberWatchGuard Technologies, Inc., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberWrench Group LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberXplor T1, LLC, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberZest Acquisition Corp., First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberZone Climate Services, Inc. 1, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberZone Climate Services, Inc. 2, First lien - Funded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMembernmfc:FundedSecuritiesMember2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberChrysaor Bidco S.a r.l., First lien - Unfunded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberGroundworks, LLC, First lien - Unfunded2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMembernmfc:UnfundedSecuritiesMember2024-09-300001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberADG, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberADMI Corp. (aka Aspen Dental), First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberAretec Group, Inc. (fka RCS Capital Corporation), First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberArtera Services, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberAscensus Group Holdings, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberathenahealth Group Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberBarracuda Parent, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberBayou Intermediate II, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberBCPE Empire Holdings, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberBella Holding Company, LLC., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberBleriot US Bidco Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberBoxer Parent Company Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberBracket Intermediate Holding Corp., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberBrown Group Holding, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberCE Intermediate I, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberCentralSquare Technologies, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberCHA Holdings, Inc., First lien - Funded 12023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberCHA Holdings, Inc., First lien - Funded 22023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberCloudera, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberConfluent Health, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberConfluent Medical Technologies, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberConvey Health Solutions, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberCornerstone OnDemand, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberCVET Midco 2, L.P., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberDealer Tire Financial, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberDiscovery Purchaser Corporation, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberDispatch Acquisition Holdings, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberEAB Global, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberEagle Parent Corp., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberEisner Advisory Group LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMembereResearchTechnology, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberEyeCare Partners, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberFoundational Education Group, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberGeo Parent Corporation, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberHeartland Dental, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberHelp/Systems Holdings, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberHoughton Mifflin Harcourt Company, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberHub International Limited, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberHunter Holdco 3 Limited, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberIdera, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberKestra Advisor Services Holdings A, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberLSCS Holdings, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberMandolin Technology Intermediate Holdings, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberMarcel Bidco LLC (Marcel Bidco GmbH), First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberMaverick Bidco Inc., First lien - Funded 12023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberMaverick Bidco Inc., First lien - Funded 22023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberMavis Tire Express Services Topco Corp., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberMH Sub I, LLC (Micro Holding Corp.), First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberNetsmart, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberNielsen Consumer Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberOEConnection LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberOMNIA Partners, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberOptiv Parent Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberOsaic Holdings, Inc.2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberOsmosis Buyer Limited, First lien - Funded 12023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberOsmosis Buyer Limited, First lien - Funded 22023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberPearls (Netherlands) Bidco B.V., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberPhysician Partners, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberPremise Health Holding Corp., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberProject Alpha Intermediate Holding, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberRealPage, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberRenaissance Holding Corp., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberRxB Holdings, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberSierra Enterprises, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberSnap One Holdings Corp., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberSpring Education Group, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberSTATS Intermediate Holdings, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberStorable, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberSymplr Software, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberSyndigo LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberTherapy Brands Holdings LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberThermostat Purchaser III, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberTRC Companies LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberUSIC Holdings, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberValcour Packaging, LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberVT Topco, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberWatchGuard Technologies, Inc., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberWrench Group LLC, First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberZest Acquisition Corp., First lien - Funded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberZone Climate Services, Inc., First lien - Funded 12023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberZone Climate Services, Inc., First lien - Funded 22023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMembernmfc:FundedSecuritiesMember2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberOMNIA Partners, LLC, First lien - Unfunded2023-12-310001496099nmfc:NMFCSeniorLoanProgramIVLLCMemberOsmosis Buyer Limited, First lien - 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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

ý      Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the Quarterly Period Ended September 30, 2024

o         Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Commission File Number

Exact name of registrant as specified in its charter, address of principal executive offices, telephone numbers and states or other jurisdictions of incorporation or organization

I.R.S. Employer Identification Number

814-00832

New Mountain Finance Corporation

27-2978010

1633 Broadway, 48th Floor New York, New York 10019 Telephone: (212) 720-0300 State of Incorporation: Delaware

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

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common stock, par value $0.01 per share

NMFC

NASDAQ Global Select Market

8.250% Notes due 2028

NMFCZ

NASDAQ Global Select Market

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

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

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

Large accelerated filer

ý

Accelerated filer

o

Non-accelerated filer

o

Smaller reporting company

o

Emerging growth company

o

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

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

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

Description						Shares as of October 30, 2024
Common stock, par value $0.01 per share						107,851,415

---

Table of Contents

FORM 10-Q FOR THE QUARTER ENDED SEPTEMBER 30, 2024

TABLE OF CONTENTS

						PAGE
PART I. FINANCIAL INFORMATION
Item 1.			Financial Statements
			New Mountain Finance Corporation
			Consolidated Statements of Assets and Liabilities as of September 30, 2024 (unaudited) and December 31, 2023			3
			Consolidated Statements of Operations for the three and nine months ended September 30, 2024 (unaudited) and September 30, 2023 (unaudited)			4
			Consolidated Statements of Changes in Net Assets for the three and nine months ended September 30, 2024 (unaudited) and September 30, 2023 (unaudited)			5
			Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 (unaudited) and September 30, 2023 (unaudited)			6
			Consolidated Schedule of Investments as of September 30, 2024 (unaudited)			7
			Consolidated Schedule of Investments as of December 31, 2023			38
			Notes to the Consolidated Financial Statements of New Mountain Finance Corporation (unaudited)			64
			Report of Independent Registered Public Accounting Firm			114
Item 2.			Management’s Discussion and Analysis of Financial Condition and Results of Operations			115
Item 3.			Quantitative and Qualitative Disclosures About Market Risk			136
Item 4.			Controls and Procedures			137
PART II. OTHER INFORMATION						138
Item 1.			Legal Proceedings			138
Item 1A.			Risk Factors			138
Item 2.			Unregistered Sales of Equity Securities and Use of Proceeds			140
Item 3.			Defaults Upon Senior Securities			140
Item 4.			Mine Safety Disclosures			140
Item 5.			Other Information			140
Item 6.			Exhibits			142
			Signatures			144

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Table of Contents

PART I. FINANCIAL INFORMATION

Item 1.    Financial Statements

New Mountain Finance Corporation

Consolidated Statements of Assets and Liabilities

(in thousands, except shares and per share data)

(unaudited)

			September 30, 2024						December 31, 2023
Assets
Investments at fair value
Non-controlled/non-affiliated investments (cost of $2,459,913 and $2,283,490, respectively)			$	2,446,773					$	2,209,867
Non-controlled/affiliated investments (cost of $121,649 and $107,895, respectively)			113,017						133,659
Controlled investments (cost of $684,751 and $646,823, respectively)			705,481						667,796
Total investments at fair value (cost of $3,266,313 and $3,038,208, respectively)			3,265,271						3,011,322
Securities purchased under collateralized agreements to resell (cost of $30,000 and $30,000, respectively)			13,500						16,500
Cash and cash equivalents			61,943						70,090
Interest and dividend receivable			45,905						44,107
Derivative asset at fair value			8,320						—
Receivable from affiliates			139						82
Deferred tax asset			—						594
Other assets			19,178						16,519
Total assets			$	3,414,256					$	3,159,214
Liabilities
Borrowings
Unsecured Notes			$	993,577					$	506,500
Holdings Credit Facility			407,563						515,063
SBA-guaranteed debentures			300,000						300,000
Convertible Notes			260,120						260,207
NMFC Credit Facility			55,031						36,813
NMNLC Credit Facility II			2,908						2,853
DB Credit Facility			—						186,400
Deferred financing costs (net of accumulated amortization of $61,723 and $54,263, respectively)			(26,229)						(22,387)
Net borrowings			1,992,970						1,785,449
Interest payable			18,485						20,440
Management fee payable			10,730						10,116
Payable to broker			10,370						—
Incentive fee payable			8,821						8,555
Deferred tax liability			1,100						—
Derivative liability at fair value			781						—
Other liabilities			3,420						2,931
Total liabilities			2,046,677						1,827,491
Commitments and contingencies (See Note 9)
Net assets
Preferred stock, par value $0.01 per share, 2,000,000 shares authorized, none issued			—						—
Common stock, par value $0.01 per share, 200,000,000 shares authorized, and 107,851,415 and 102,558,859 shares issued and outstanding, respectively			1,079						1,026
Paid in capital in excess of par			1,398,395						1,331,269
Accumulated undistributed earnings			(38,178)						(12,344)
Total net assets of New Mountain Finance Corporation			$	1,361,296					$	1,319,951
Non-controlling interest in New Mountain Net Lease Corporation			6,283						11,772
Total net assets			$	1,367,579					$	1,331,723
Total liabilities and net assets			$	3,414,256					$	3,159,214
Number of shares outstanding			107,851,415						102,558,859
Net asset value per share of New Mountain Finance Corporation			$	12.62					$	12.87

The accompanying notes are an integral part of these consolidated financial statements.

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New Mountain Finance Corporation

 

Consolidated Statements of Operations

(in thousands, except shares and per share data)

(unaudited)

			Three Months Ended												Nine Months Ended
			September 30, 2024						September 30, 2023						September 30, 2024						September 30, 2023
Investment income
From non-controlled/non-affiliated investments:
Interest income (excluding Payment-in-kind ("PIK") interest income)			$	61,788					$	63,892					$	175,608					$	189,299
PIK interest income			4,340						4,061						13,460						11,772
Dividend income			185						49						2,762						143
Non-cash dividend income			5,077						4,458						14,558						12,929
Other income			1,454						791						6,345						3,395
From non-controlled/affiliated investments:
Interest income (excluding PIK interest income)			349						884						1,093						1,576
PIK interest income			971						265						2,680						1,370
Non-cash dividend income			1,593						1,173						4,211						3,417
Other income			63						63						188						189
From controlled investments:
Interest income (excluding PIK interest income)			1,651						1,351						4,395						4,038
PIK interest income			3,739						3,591						11,595						11,665
Dividend income			11,789						11,041						36,812						34,179
Non-cash dividend income			1,649						1,357						4,715						3,879
Other income			679						1,373						2,049						3,943
Total investment income			95,327						94,349						280,471						281,794
Expenses
Interest and other financing expenses			37,661						31,425						101,790						93,921
Management fee			11,700						11,334						34,048						34,549
Incentive fee			8,821						10,169						27,760						29,748
Administrative expenses			1,059						995						3,135						2,996
Professional fees			1,019						850						3,213						2,818
Other general and administrative expenses			531						542						1,523						1,543
Total expenses			60,791						55,315						171,469						165,575
Less: management fee waived (See Note 5)			(970)						(1,013)						(2,732)						(3,172)
Net expenses			59,821						54,302						168,737						162,403
Net investment income before income taxes			35,506						40,047						111,734						119,391
Income tax expense (benefit)			118						(627)						353						401
Net investment income			35,388						40,674						111,381						118,990
Net realized (losses) gains:
Non-controlled/non-affiliated investments			(75)						113						(46,899)						(8,509)
Controlled investments			(456)						4,560						3,375						16,413
Foreign currency			(1,455)						—						(1,455)						13
Net change in unrealized appreciation (depreciation):
Non-controlled/non-affiliated investments			419						12,419						56,474						11,664
Non-controlled/affiliated investments			(7,853)						(14,815)						(34,396)						(14,830)
Controlled investments			(4,260)						(14,483)						(243)						(15,174)
Securities purchased under collateralized agreements to resell			—						—						(3,000)						(39)
New Mountain Net Lease Corporation			1,533						—						1,533						—
Foreign currency			1,690						(60)						1,796						(5)
(Provision) benefit for taxes			(1,037)						291						(1,804)						66
Net realized and unrealized losses			(11,494)						(11,975)						(24,619)						(10,401)
Net increase in net assets resulting from operations			23,894						28,699						86,762						108,589
Less: Net increase in net assets resulting from operations related to non-controlling interest in New Mountain Net Lease Corporation			(5)						(3)						(994)						(490)
Net increase in net assets resulting from operations related to New Mountain Finance Corporation			$	23,889					$	28,696					$	85,768					$	108,099
Basic earnings per share			$	0.22					$	0.28					$	0.81					$	1.07
Weighted average shares of common stock outstanding - basic (See Note 11)			107,851,415						100,954,898						106,140,789						100,943,049
Diluted earnings per share			$	0.22					$	0.27					$	0.78					$	0.98
Weighted average shares of common stock outstanding - diluted (See Note 11)			126,779,819						123,183,269						125,000,872						124,595,709
Distributions declared and paid per share			$	0.34					$	0.36					$	1.04					$	1.03

The accompanying notes are an integral part of these consolidated financial statements.

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New Mountain Finance Corporation

 

Consolidated Statements of Changes in Net Assets

(in thousands, except shares and per share data)

(unaudited)

			Three Months Ended												Nine Months Ended
			September 30, 2024						September 30, 2023						September 30, 2024						September 30, 2023
Increase (decrease) in net assets resulting from operations:
Net investment income			$	35,388					$	40,674					$	111,381					$	118,990
Net realized (losses) gains on investments and foreign currency			(1,986)						4,673						(44,979)						7,917
Net change in unrealized (depreciation) appreciation of investments, foreign currency and New Mountain Net Lease Corporation			(8,471)						(16,939)						25,164						(18,345)
Net change in unrealized depreciation of securities purchased under collateralized agreements to resell			—						—						(3,000)						(39)
(Provision) benefit for taxes			(1,037)						291						(1,804)						66
Net increase in net assets resulting from operations			23,894						28,699						86,762						108,589
Less: Net increase in net assets resulting from operations related to non-controlling interest in New Mountain Net Lease Corporation ("NMNLC")			(5)						(3)						(994)						(490)
Net increase in net assets resulting from operations related to New Mountain Finance Corporation			23,889						28,696						85,768						108,099
Capital transactions
Net proceeds from shares sold			—						6,625						67,691						6,625
Offering costs			(43)						(66)						(512)						(213)
Distributions declared to stockholders from net investment income			(36,668)						(36,338)						(111,602)						(103,966)
Total net decrease in net assets resulting from capital transactions			(36,711)						(29,779)						(44,423)						(97,554)
Net (decrease) increase in net assets			(12,822)						(1,083)						41,345						10,545
New Mountain Finance Corporation net assets at the beginning of the period			1,374,118						1,326,101						1,319,951						1,314,473
New Mountain Finance Corporation net assets at the end of the period			1,361,296						1,325,018						1,361,296						1,325,018
Non-controlling interest in NMNLC			6,283						11,676						6,283						11,676
Net assets at the end of the period			$	1,367,579					$	1,336,694					$	1,367,579					$	1,336,694
Capital share activity
Shares sold			—						502,623						5,292,556						502,623
Net increase in shares outstanding			—						502,623						5,292,556						502,623

The accompanying notes are an integral part of these consolidated financial statements.

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New Mountain Finance Corporation

 

Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

			Nine Months Ended
			September 30, 2024						September 30, 2023
Cash flows from operating activities
Net increase in net assets resulting from operations			$	86,762					$	108,589
Adjustments to reconcile net increase in net assets resulting from operations to net cash (used in) provided by operating activities:
Net realized losses (gains) on investments			43,524						(7,904)
Net realized losses (gains) on translation of assets and liabilities in foreign currencies			1,455						(13)
Net change in unrealized (appreciation) depreciation of investments and New Mountain Net Lease Corporation			(23,368)						18,340
Net change in unrealized (appreciation) depreciation on translation of assets and liabilities in foreign currencies			(1,796)						5
Net change in unrealized depreciation of securities purchased under collateralized agreements to resell			3,000						39
Amortization of purchase discount			(5,774)						(4,082)
Amortization of deferred financing costs			7,502						5,002
Amortization of premium on Convertible Notes			(87)						(101)
Amortization of discount on 6.875% and 6.200% Unsecured Notes			422						—
Net change due to hedging activity			635						—
Non-cash investment income			(47,921)						(42,456)
(Increase) decrease in operating assets:
Cash paid for purchase of non-controlling interest in New Mountain Net Lease Corporation			(4,666)						—
Cash distribution received for purchase of non-controlling interest in New Mountain Net Lease Corporation			244						—
Purchase of investments and delayed draw facilities			(772,915)						(140,568)
Proceeds from sales and paydowns of investments			557,709						282,741
Cash received for purchase of undrawn portion of revolving credit or delayed draw facilities			447						110
Cash paid for purchase of drawn portion of revolving credit facilities			(48)						—
Cash paid on drawn revolvers			(29,475)						(20,865)
Cash repayments on drawn revolvers			24,893						24,270
Deferred tax asset			594						—
Interest and dividend receivable			(1,809)						(9,429)
Receivable from affiliates			(57)						—
Other assets			(2,832)						(12,408)
(Decrease) increase in operating liabilities:
Management fee payable			614						(203)
Incentive fee payable			266						3,873
Payable for unsettled securities purchased			—						4,678
Interest payable			(1,953)						3,575
Payable to affiliates			—						178
Deferred tax liability			1,100						(5,697)
Payable to broker			10,370						—
Other liabilities			(20)						(628)
Net cash flows (used in) provided by operating activities			(153,184)						207,046
Cash flows from financing activities
Net proceeds from shares sold			67,691						6,625
Offering costs paid			(336)						(306)
Distributions paid			(111,602)						(103,966)
Proceeds from Holdings Credit Facility			558,400						109,600
Repayment of Holdings Credit Facility			(665,900)						(159,000)
Proceeds from Convertible Notes			—						60,300
Repayment of Convertible Notes			—						(116,816)
Proceeds from Unsecured Notes			594,981						—
Repayment of Unsecured Notes			(116,500)						(140,000)
Proceeds from NMFC Credit Facility			112,386						348,500
Repayment of NMFC Credit Facility			(96,450)						(197,000)
Proceeds from DB Credit Facility			—						8,000
Repayment of DB Credit Facility			(186,400)						(8,000)
Proceeds from NMNLC Credit Facility II			7,710						5,750
Repayment of NMNLC Credit Facility II			(7,655)						(6,677)
Distributions related to non-controlling interest in NMNLC			(528)						(532)
Deferred financing costs paid			(10,832)						(1,450)
Net cash flows provided by (used in) financing activities			144,965						(194,972)
Net (decrease) increase in cash and cash equivalents			(8,219)						12,074
Effect of foreign exchange rate changes on cash and cash equivalents			72						1
Cash and cash equivalents at the beginning of the period			70,090						71,190
Cash and cash equivalents at the end of the period			$	61,943					$	83,265
Supplemental disclosure of cash flow information
Cash interest paid			$	93,432					$	84,116
Income taxes paid			142						6,808
Non-cash operating activities:
Non-cash activity on investments			$	26,350					$	15,772
Non-cash financing activities:
Accrual for offering costs			$	159					$	104
Accrual for deferred financing costs			708						2

The accompanying notes are an integral part of these consolidated financial statements.

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New Mountain Finance Corporation

 

Consolidated Schedule of Investments

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
Non-Controlled/Non-Affiliated Investments
Funded Debt Investments - United States
Paw Midco, Inc.
AAH Topco, LLC
Consumer Services									First lien (2)(14)(15)						SOFR(M)						5.25%						10.22%						12/2021						12/2027						$	22,791					$	22,630					$	22,791
									First lien (3)(13)(15)						SOFR(M)						5.25%						10.20%						12/2021						12/2027						20,270						20,147						20,270
									First lien (4)(15)						SOFR(M)						5.25%						10.20%						01/2022						12/2027						9,624						9,565						9,623
									First lien (4)(15)						SOFR(M)						5.25%						10.22%						12/2021						12/2027						7,394						7,342						7,394
									Subordinated (3)(13)(15)						FIXED(Q)*						11.50%/PIK						11.50%						12/2021						12/2031						15,283						15,145						15,031
									Subordinated (4)(15)						FIXED(Q)*						11.50%/PIK						11.50%						01/2022						12/2031						5,994						5,940						5,895
																																																			80,769						81,004						5.92		%
Knockout Intermediate Holdings I Inc.(33)
Kaseya Inc.
Software									First lien (2)(14)(15)						SOFR(Q)						5.50%						10.75%						06/2022						06/2029						64,282						63,928						64,282
									First lien (3)(13)(15)(18) - Drawn						SOFR(Q)						5.50%						10.10%						06/2022						06/2029						973						966						973
									First lien (3)(15)(18) - Drawn						SOFR(Q)						5.50%						10.78%						06/2022						06/2029						751						747						751
									First lien (3)(13)(15)						SOFR(Q)						5.50%						10.75%						06/2022						06/2029						238						237						238
																																																			65,878						66,244						4.84		%
GC Waves Holdings, Inc.
Financial Services									First lien (2)(14)						SOFR(M)						5.25%						10.20%						08/2021						08/2029						39,966						39,734						39,966
									First lien (5)						SOFR(M)						5.25%						10.20%						08/2021						08/2029						21,502						21,436						21,502
									First lien (2)(14)						SOFR(M)						5.25%						10.20%						10/2019						08/2029						447						444						447
																																																			61,614						61,915						4.53		%
OA Topco, L.P.(32)
OA Buyer, Inc.
Healthcare									First lien (2)(14)(15)						SOFR(M)						5.00%						9.85%						06/2024						12/2028						31,592						31,517						31,592
									First lien (2)(14)(15)						SOFR(M)						5.00%						9.85%						12/2021						12/2028						27,496						27,309						27,497
									First lien (2)(14)(15)						SOFR(M)						5.00%						9.85%						05/2022						12/2028						1,741						1,728						1,741
																																																			60,554						60,830						4.45		%
Associations Finance, Inc.
Associations, Inc.
Business Services									First lien (3)(13)(15)						SOFR(Q)						6.50%						12.00%						05/2024						07/2028						49,555						49,531						49,530
									Subordinated (3)(15)						FIXED(Q)*						14.25%/PIK						14.25%						05/2024						05/2030						7,680						7,662						7,725
									Subordinated (3)(15)						FIXED(Q)*						14.25%/PIK						14.25%						05/2024						05/2030						2,933						2,926						2,950
																																																			60,119						60,205						4.40		%

The accompanying notes are an integral part of these consolidated financial statements.

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New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
GS Acquisitionco, Inc.
Software									First lien (2)(14)(15)						SOFR(Q)						5.25%						9.85%						08/2019						05/2028						$	34,811					$	34,751					$	34,811
									First lien (5)(15)						SOFR(Q)						5.25%						9.85%						08/2019						05/2028						21,353						21,316						21,353
									First lien (3)(13)(15)						SOFR(Q)						5.25%						9.85%						08/2019						05/2028						2,917						2,910						2,917
									First lien (3)(15)(18) - Drawn						SOFR(Q)						5.25%						9.85%						08/2019						05/2028						625						625						625
																																																			59,602						59,706						4.37		%
iCIMS, Inc.
Software									First lien (2)(14)(15)						SOFR(M)						5.75%						10.67%						09/2023						08/2028						44,708						44,490						44,373
									First lien (2)(14)(15)						SOFR(M)						6.25%						11.17%						10/2022						08/2028						7,366						7,318						7,366
									First lien (3)(15)(18) - Drawn						SOFR(M)						5.75%						10.62%						08/2022						08/2028						1,059						1,055						1,051
																																																			52,863						52,790						3.86		%
OEConnection LLC
Software									First lien (2)(14)(15)						SOFR(M)						5.25%						10.10%						04/2024						04/2031						46,547						46,324						46,547						3.40		%
Model N, Inc.
Software									First lien (2)(14)(15)						SOFR(Q)						5.00%						9.64%						06/2024						06/2031						44,329						44,113						44,107						3.23		%
Recorded Future, Inc.
Software									First lien (3)(13)						SOFR(M)						5.75%						10.60%						06/2024						06/2030						41,688						41,486						41,688
									First lien (3)(18) - Drawn						SOFR(Q)						5.75%						10.88%						06/2024						06/2030						2,356						2,345						2,356
																																																			43,831						44,044						3.22		%
IG Intermediateco LLC
Infogain Corporation
Business Services									First lien (2)(14)(15)						SOFR(M)						5.75%						10.70%						07/2021						07/2028						18,372						18,286						18,372
									First lien (3)(13)(15)						SOFR(M)						5.75%						10.70%						07/2022						07/2028						7,784						7,730						7,784
									First lien (3)(15)(18) - Drawn						SOFR(M)						5.75%						10.95%						07/2021						07/2026						703						698						703
									Subordinated (3)(15)						SOFR(Q)						7.50%						12.20%						07/2022						07/2029						16,953						16,789						16,953
																																																			43,503						43,812						3.20		%
Deca Dental Holdings LLC
Healthcare									First lien (2)(14)(15)						SOFR(Q)						5.75%						10.45%						08/2021						08/2028						37,189						36,954						36,699
									First lien (3)(13)(15)						SOFR(Q)						5.75%						10.45%						08/2021						08/2028						3,915						3,889						3,863
									First lien (3)(13)(15)(18) - Drawn						SOFR(Q)						5.75%						10.46%						08/2021						08/2027						3,027						2,997						2,987
																																																			43,840						43,549						3.18		%

The accompanying notes are an integral part of these consolidated financial statements.

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New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
Sierra Enterprises, LLC
Food & Beverage									First lien (3)(13)						SOFR(Q)						6.75%						12.00%						06/2023						05/2027						$	42,554					$	38,612					$	40,852					2.99		%
RealPage, Inc.
Software									Second lien (2)(14)						SOFR(M)						6.50%						11.46%						03/2024						04/2029						41,887						41,689						40,394						2.95		%
WEG Sub Intermediate Holdings, LLC
Wealth Enhancement Group, LLC
Financial Services									First lien (2)(14)(15)						SOFR(Q)						5.50%						10.69%						05/2022						10/2027						15,632						15,602						15,632
									First lien (3)(13)(15)						SOFR(Q)						5.50%						10.68%						08/2021						10/2027						11,939						11,907						11,939
									First lien (2)(14)(15)						SOFR(Q)						5.50%						10.68%						08/2021						10/2027						6,676						6,660						6,675
									First lien (3)(13)(15)						SOFR(Q)						5.50%						10.52%						01/2022						10/2027						1,231						1,220						1,231
									First lien (3)(13)(15)						SOFR(Q)						5.50%						10.70%						01/2022						10/2027						826						818						826
									Subordinated (3)(15)						FIXED(Q)*						15.00%/PIK						15.00%						05/2023						05/2033						3,927						3,881						3,927
																																																			40,088						40,230						2.94		%
YLG Holdings, Inc.
Business Services									First lien (5)(15)						SOFR(Q)						5.00%						10.25%						11/2019						10/2026						17,540						17,518						17,540
									First lien (2)(14)(15)						SOFR(Q)						5.00%						10.25%						06/2024						10/2026						8,369						8,369						8,369
									First lien (2)(14)(15)						SOFR(Q)						5.00%						10.26%						06/2024						10/2026						3,505						3,505						3,505
									First lien (2)(14)(15)						SOFR(Q)						5.00%						10.20%						06/2024						10/2026						2,531						2,531						2,531
									First lien (5)(15)						SOFR(Q)						5.00%						10.25%						11/2019						10/2026						2,284						2,281						2,284
									First lien (2)(14)(15)						SOFR(Q)						5.00%						10.25%						06/2024						10/2026						1,318						1,318						1,318
									First lien (5)(15)						SOFR(Q)						5.00%						10.26%						10/2021						10/2026						1,195						1,190						1,195
									First lien (5)(15)						SOFR(Q)						5.00%						10.20%						10/2021						10/2026						863						863						863
									First lien (2)(14)(15)						SOFR(Q)						5.00%						10.25%						06/2024						10/2026						843						843						843
																																																			38,418						38,448						2.81		%
MRI Software LLC
Software									First lien (5)(15)						SOFR(Q)						4.75%						9.35%						01/2020						02/2027						21,486						21,451						21,486
									First lien (3)(13)(15)						SOFR(Q)						4.75%						9.35%						03/2021						02/2027						7,611						7,599						7,611
									First lien (2)(14)(15)						SOFR(Q)						4.75%						9.35%						03/2021						02/2027						4,533						4,527						4,533
									First lien (2)(14)(15)						SOFR(Q)						4.75%						9.35%						01/2020						02/2027						3,115						3,110						3,115
									First lien (3)(13)(15)						SOFR(Q)						4.75%						9.35%						01/2020						02/2027						795						793						795
																																																			37,480						37,540						2.74		%

The accompanying notes are an integral part of these consolidated financial statements.

9

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Table of Contents

New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
Foreside Financial Group, LLC
Business Services									First lien (2)(14)(15)						SOFR(Q)						5.25%						10.00%						05/2022						09/2027						$	33,441					$	33,232					$	33,441
									First lien (3)(13)(15)						SOFR(Q)						5.25%						10.00%						05/2022						09/2027						2,980						2,955						2,980
																																																			36,187						36,421						2.66		%
CentralSquare Technologies, LLC
Software									First lien (2)(14)(15)						SOFR(M)*						3.00% + 3.50%/PIK						11.60%						04/2024						04/2030						35,564						35,151						35,564						2.60		%
Auctane Inc. (fka Stamps.com Inc.)
Software									First lien (3)(13)(15)						SOFR(S)						5.75%						10.94%						10/2021						10/2028						21,680						21,539						21,192
									First lien (2)(14)(15)						SOFR(S)						5.75%						10.94%						10/2021						10/2028						14,662						14,566						14,332
																																																			36,105						35,524						2.60		%
IG Investments Holdings, LLC
Business Services									First lien (2)(14)(15)						SOFR(Q)						6.00%						11.35%						09/2021						09/2028						28,617						28,432						28,617
									First lien (2)(14)(15)						SOFR(Q)						6.00%						11.35%						02/2022						09/2028						4,181						4,167						4,181
									First lien (3)(13)(15)						SOFR(Q)						6.00%						11.35%						03/2024						09/2028						1,686						1,686						1,686
									First lien (3)(13)(15)						SOFR(Q)						6.00%						11.25%						04/2024						09/2028						634						631						634
									First lien (3)(13)(15)						SOFR(Q)						6.00%						11.35%						03/2024						09/2028						222						222						222
																																																			35,138						35,340						2.58		%
TigerConnect, Inc.
Healthcare									First lien (2)(14)(15)						SOFR(Q)*						3.38% +3.38%/PIK						12.15%						02/2022						02/2028						29,868						29,677						29,868
									First lien (2)(15)(18) - Drawn						SOFR(Q)*						3.38% +3.38%/PIK						12.15%						02/2022						02/2028						2,163						2,163						2,163
																																																			31,840						32,031						2.34		%
PPV Intermediate Holdings, LLC
Consumer Services									First lien (4)(15)						SOFR(Q)						5.75%						10.81%						08/2022						08/2029						22,444						22,386						22,444
									First lien (2)(14)(15)						SOFR(Q)						5.75%						10.81%						06/2024						08/2029						8,279						8,279						8,279
																																																			30,665						30,723						2.25		%
Fortis Solutions Group, LLC
Packaging									First lien (2)(14)(15)						SOFR(Q)						5.50%						10.20%						10/2021						10/2028						17,220						17,104						17,220
									First lien (3)(13)(15)						SOFR(Q)						5.50%						10.20%						10/2021						10/2028						12,051						11,971						12,051
									First lien (3)(15)(18) - Drawn						SOFR(Q)						5.50%						10.20%						10/2021						10/2027						763						755						763
									First lien (3)(15)(18) - Drawn						SOFR(Q)						5.50%						10.20%						06/2022						10/2028						114						113						114
									First lien (3)(15)						SOFR(Q)						5.50%						10.20%						10/2021						10/2028						80						79						80
																																																			30,022						30,228						2.21		%

The accompanying notes are an integral part of these consolidated financial statements.

10

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Table of Contents

New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
Bullhorn, Inc.
Software									First lien (2)(14)(15)						SOFR(M)						5.00%						9.85%						09/2019						10/2029						$	16,444					$	16,398					$	16,444
									First lien (2)(14)(15)						SOFR(M)						5.00%						9.85%						10/2021						10/2029						3,398						3,394						3,398
									First lien (3)(13)(15)(18) - Drawn						SOFR(M)						5.00%						9.85%						05/2024						10/2029						8,462						8,441						8,462
									First lien (2)(14)(15)						SOFR(M)						5.00%						9.85%						09/2019						10/2029						761						758						761
									First lien (3)(15)(18) - Drawn						SOFR(Q)						5.00%						10.02%						05/2024						10/2029						417						417						417
									First lien (2)(14)(15)						SOFR(M)						5.00%						9.85%						09/2019						10/2029						341						340						341
									First lien (2)(14)(15)						SOFR(M)						5.00%						9.85%						09/2019						10/2029						272						271						272
																																																			30,019						30,095						2.20		%
ACI Parent Inc.(29)
ACI Group Holdings, Inc.
Healthcare									First lien (2)(14)(15)						SOFR(M)						5.50%						10.45%						08/2021						08/2028						21,857						21,722						21,214
									First lien (3)(13)(15)						SOFR(M)						5.50%						10.45%						08/2021						08/2028						3,874						3,846						3,760
									First lien (3)(13)(15)						SOFR(M)						5.50%						10.45%						08/2021						08/2028						4,196						4,158						4,072
									First lien (3)(15)(18) - Drawn						SOFR(M)						5.50%						10.45%						08/2021						08/2027						1,059						1,049						1,028
																																																			30,775						30,074						2.20		%
Brave Parent Holdings, Inc.
Software									First lien (5)(15)						SOFR(Q)						5.00%						10.25%						11/2023						11/2030						20,070						19,978						20,070
									First lien (2)(14)(15)						SOFR(Q)						5.00%						10.25%						05/2024						11/2030						7,847						7,847						7,847
									First lien (5)(15)(18) - Drawn						SOFR(Q)						5.00%						10.25%						11/2023						11/2030						1,323						1,319						1,323
									First lien (3)(15)(18) - Drawn						SOFR(Q)						5.00%						10.25%						05/2024						11/2030						517						517						517
																																																			29,661						29,757						2.18		%
Foundational Education Group, Inc.
Education									Second lien (5)(15)						SOFR(Q)						6.50%						12.01%						08/2021						08/2029						22,500						22,420						22,500
									Second lien (2)(14)(15)						SOFR(Q)						6.50%						12.01%						08/2021						08/2029						7,009						6,991						7,009
																																																			29,411						29,509						2.16		%
NMC Crimson Holdings, Inc.
Healthcare									First lien (3)(13)(15)						SOFR(Q)						6.09%						11.56%						03/2021						03/2028						19,259						19,095						19,259
									First lien (3)(13)(15)						SOFR(Q)						6.09%						11.26%						03/2021						03/2028						5,012						4,995						5,012
									First lien (2)(14)(15)						SOFR(Q)						6.09%						11.56%						03/2021						03/2028						4,913						4,871						4,913
																																																			28,961						29,184						2.13		%

The accompanying notes are an integral part of these consolidated financial statements.

11

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Table of Contents

New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
Nelipak Holding Company
Packaging									First lien (3)(13)(15)(16)						EURIBOR(M)						5.50%						8.88%						03/2024						03/2031						€	16,565					$	17,861					$	18,442
									First lien (2)(14)(15)						SOFR(M)						5.50%						10.35%						03/2024						03/2031						$	9,046					8,983						9,046
									First lien (3)(13)(15)(16)(18) - Drawn						SOFR(M)						5.50%						10.35%						03/2024						03/2031						$	993					985						993
																																																			27,829						28,481						2.08		%
PetVet Care Centers, LLC
Consumer Services									First lien (2)(14)(15)						SOFR(M)						6.00%						10.85%						10/2023						11/2030						28,217						27,958						28,217						2.06		%
Syndigo LLC
Software									Second lien (4)(15)						SOFR(M)						8.00%						13.03%						12/2020						12/2028						22,500						22,392						22,500
									Second lien (2)(14)(15)						SOFR(M)						8.00%						13.03%						02/2022						12/2028						5,697						5,707						5,697
																																																			28,099						28,197						2.06		%
Pioneer Topco I, L.P.(31)
Pioneer Buyer I, LLC
Software									First lien (3)(13)(15)						SOFR(Q)						6.50%						11.10%						03/2024						11/2028						23,089						22,992						23,089
									First lien (3)(13)(15)						SOFR(Q)						6.50%						11.10%						03/2022						11/2028						2,374						2,361						2,374
																																																			25,353						25,463						1.86		%
DOCS, MSO, LLC
Healthcare									First lien (3)(13)(15)						SOFR(M)						5.75%						11.05%						06/2022						06/2028						18,384						18,384						18,283
									First lien (4)(15)						SOFR(M)						5.75%						11.05%						06/2022						06/2028						6,885						6,885						6,847
																																																			25,269						25,130						1.84		%
AmeriVet Partners Management, Inc.
Consumer Services									First lien (2)(14)(15)						SOFR(S)						5.25%						9.75%						02/2022						02/2028						19,013						18,952						19,013
									First lien (2)(14)(15)						SOFR(S)						5.25%						9.75%						02/2022						02/2028						5,291						5,272						5,291
									First lien (3)(13)(15)						SOFR(S)						5.25%						9.75%						02/2022						02/2028						695						692						695
																																																			24,916						24,999						1.83		%
HS Purchaser, LLC / Help/Systems Holdings, Inc.
Software									Second lien (5)(15)						SOFR(M)						6.75%						11.70%						11/2019						11/2027						22,500						22,440						19,605
									Second lien (2)(14)(15)						SOFR(M)						6.75%						11.70%						11/2019						11/2027						4,208						4,187						3,666
																																																			26,627						23,271						1.70		%
Diamond Parent Holdings Corp. (28)
Diligent Corporation
Software									First lien (2)(14)(15)						SOFR(S)						5.00%						10.09%						04/2024						08/2030						19,821						19,751						19,748
									First lien (3)(13)(15)						SOFR(S)						5.00%						10.09%						04/2024						08/2030						3,398						3,386						3,385
																																																			23,137						23,133						1.69		%

The accompanying notes are an integral part of these consolidated financial statements.

12

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Table of Contents

New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
FS WhiteWater Holdings, LLC(30)
FS WhiteWater Borrower, LLC
Consumer Services									First lien (5)(15)						SOFR(Q)						5.75%						10.50%						12/2021						12/2027						$	10,211					$	10,149					$	10,211
									First lien (3)(13)(15)						SOFR(Q)						6.00%						10.75%						07/2022						12/2027						5,691						5,647						5,691
									First lien (5)(15)						SOFR(Q)						5.75%						10.50%						12/2021						12/2027						3,428						3,405						3,428
									First lien (5)(15)						SOFR(Q)						5.75%						10.50%						12/2021						12/2027						3,406						3,385						3,406
																																																			22,586						22,736						1.66		%
Xactly Corporation
Software									First lien (4)(15)						SOFR(Q)						6.25%						11.41%						07/2017						07/2027						22,500						22,482						22,500						1.65		%
Power Grid Holdings, Inc.
Business Products									First lien (4)(15)						SOFR(Q)						4.75%						10.00%						11/2023						12/2030						18,091						17,926						17,910
									First lien (4)(15)						SOFR(Q)						4.75%						10.00%						07/2024						12/2030						4,352						4,352						4,309
																																																			22,278						22,219						1.62		%
Ambrosia Holdco Corp(35)
TMK Hawk Parent, Corp.
Distribution & Logistics									First lien (2)(15)						SOFR(M)*						5.25%/PIK						10.17%						01/2024						06/2029						12,011						11,445						10,135
									First lien (3)(13)(15)						SOFR(M)*						5.25%/PIK						10.17%						01/2024						06/2029						9,670						9,564						8,159
									First lien (3)(13)(15)						SOFR(M)*						2.00%/PIK + 1.00%						7.92%						03/2024						06/2029						2,829						2,280						2,339
									Subordinated (2)(15)						FIXED(Q)*						11.00%/PIK						11.00%						01/2024						12/2031						294						294						294
									Subordinated (3)(15)						FIXED(Q)*						11.00%/PIK						11.00%						01/2024						12/2031						283						283						283
																																																			23,866						21,210						1.55		%
Oranje Holdco, Inc.
Education									First lien (3)(13)(15)						SOFR(Q)						7.50%						12.75%						02/2023						02/2029						7,440						7,366						7,440
									First lien (2)(14)(15)						SOFR(Q)						7.50%						12.75%						02/2023						02/2029						7,440						7,366						7,440
									First lien (3)(13)(15)						SOFR(Q)						7.25%						12.50%						04/2024						02/2029						5,454						5,402						5,454
																																																			20,134						20,334						1.49		%
Cardinal Parent, Inc.
Software									First lien (4)						SOFR(Q)						4.50%						9.25%						10/2020						11/2027						11,761						11,716						11,016
									Second lien (4)(15)						SOFR(Q)						7.75%						12.52%						11/2020						11/2028						9,767						9,706						9,309
																																																			21,422						20,325						1.49		%
Trinity Air Consultants Holdings Corporation
Business Services									First lien (2)(14)(15)						SOFR(S)						5.25%						10.66%						06/2021						06/2028						15,382						15,299						15,382
									First lien (2)(14)(15)(18) - Drawn						SOFR(S)						5.25%						10.41%						06/2021						06/2028						4,467						4,436						4,467
																																																			19,735						19,849						1.45		%

The accompanying notes are an integral part of these consolidated financial statements.

13

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Table of Contents

New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
Groundworks, LLC
Business Services									First lien (4)						SOFR(M)						3.50%						8.60%						03/2024						03/2031						$	18,955					$	18,776					$	18,848
									First lien (4)(18) - Drawn						SOFR(M)						3.50%						8.60%						03/2024						03/2031						558						553						555
																																																			19,329						19,403						1.42		%
Notorious Topco, LLC
Consumer Products									First lien (3)(13)(15)						SOFR(Q)*						4.75% +2.50%/PIK						12.65%						11/2021						11/2027						9,999						9,955						9,274
									First lien (3)(13)(15)						SOFR(Q)*						4.75% +2.50%/PIK						12.65%						05/2022						11/2027						9,874						9,827						9,159
									First lien (3)(13)(15)						SOFR(Q)*						4.75% + 2.50%/PIK						12.65%						11/2021						11/2027						871						864						808
																																																			20,646						19,241						1.41		%
DG Investment Intermediate Holdings 2, Inc.
Business Services									Second lien (3)(13)						SOFR(M)						6.75%						11.71%						03/2021						03/2029						20,313						20,279						19,145						1.40		%
GraphPAD Software, LLC
Healthcare									First lien (2)(14)(15)						SOFR(Q)						4.75%						9.35%						06/2024						06/2031						17,946						17,902						17,901
									First lien (3)(15)(18) - Drawn						SOFR(Q)						4.75%						9.35%						06/2024						06/2031						449						446						448
																																																			18,348						18,349						1.34		%
PDI TA Holdings, Inc.
Software									First lien (4)(15)						SOFR(Q)						5.25%						10.46%						01/2024						02/2031						18,207						18,121						18,207						1.33		%
AAC Lender Holdings, LLC(27)
American Achievement Corporation (aka AAC Holding Corp.)
Education									First lien (2)(15)						SOFR(M)(20)*						6.75%/PIK + 0.50%						12.55%						09/2015						09/2026						29,879						29,843						17,999
									First lien (3)(15)						SOFR(M)(20)*						14.50%/PIK + 0.50%						20.30%						06/2021						09/2026						1,527						1,527						—
									Subordinated (3)(15)						SOFR(Q)(20)*						1.00%/PIK						6.48%						03/2021						09/2026						5,230						—						—
																																																			31,370						17,999						1.32		%
Kele Holdco, Inc.
Distribution & Logistics									First lien (5)(15)						SOFR(M)						5.25%						10.27%						02/2020						02/2026						14,675						14,654						14,675
									First lien (5)(15)						SOFR(M)						5.25%						10.27%						02/2024						02/2026						2,649						2,635						2,649
									First lien (3)(13)(15)(18) - Drawn						SOFR(M)						5.25%						10.27%						02/2020						02/2026						139						139						139
																																																			17,428						17,463						1.28		%
Avalara, Inc.
Software									First lien (3)(13)(15)						SOFR(Q)						6.25%						10.85%						10/2022						10/2028						17,198						17,037						17,198						1.26		%

The accompanying notes are an integral part of these consolidated financial statements.

14

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Table of Contents

New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
Idera, Inc.
Software									Second lien (4)(15)						SOFR(Q)						6.75%						12.15%						06/2019						03/2029						$	15,091					$	14,955					$	15,091
									Second lien (3)(13)(15)						SOFR(Q)						6.75%						12.15%						04/2021						03/2029						2,012						2,006						2,012
																																																			16,961						17,103						1.25		%
Coupa Holdings, LLC
Software									First lien (3)(13)(15)						SOFR(Q)						5.50%						10.75%						02/2023						02/2030						14,424						14,273						14,424						1.05		%
IMO Investor Holdings, Inc.
Healthcare									First lien (2)(14)(15)						SOFR(A)						5.50%						9.86%						05/2022						05/2029						12,747						12,653						12,747
									First lien (3)(13)(15)						SOFR(A)						5.50%						10.09%						05/2022						05/2029						1,629						1,615						1,629
																																																			14,268						14,376						1.05		%
Houghton Mifflin Harcourt Company
Education									First lien (3)(13)						SOFR(M)						5.25%						10.20%						10/2023						04/2029						14,521						14,123						14,163						1.04		%
Daxko Acquisition Corporation
Software									First lien (3)(13)(15)						SOFR(M)						5.00%						9.85%						10/2021						10/2028						12,912						12,828						12,912
									First lien (2)(14)(15)						SOFR(M)						5.00%						9.85%						10/2021						10/2028						1,088						1,080						1,088
									First lien (3)(15)						SOFR(M)						5.00%						9.85%						10/2021						10/2028						65						65						65
									First lien (3)(15)(18) - Drawn						P(Q)						4.00%						12.00%						10/2021						10/2027						62						61						62
																																																			14,034						14,127						1.03		%
Calabrio, Inc.
Software									First lien (5)(15)						SOFR(Q)						5.50%						10.56%						04/2021						04/2027						12,316						12,270						12,316
									First lien (5)(15)						SOFR(Q)						5.50%						10.56%						01/2024						04/2027						1,578						1,565						1,578
																																																			13,835						13,894						1.02		%
Convey Health Solutions, Inc.
Healthcare									First lien (3)(13)(15)						SOFR(Q)*						1.00% +4.25%/PIK						9.95%						09/2019						07/2029						13,058						13,005						11,823
									First lien (3)(13)(15)						SOFR(Q)*						1.00% + 4.25%/PIK						9.95%						02/2022						07/2029						2,180						2,164						1,974
																																																			15,169						13,797						1.01		%
Baker Tilly Advisory Group, LP
Financial Services									First lien (3)(13)(15)						SOFR(M)						5.00%						9.85%						05/2024						06/2031						13,721						13,622						13,618						1.00		%
CFS Management, LLC
Healthcare									First lien (2)(14)(15)						SOFR(Q)*						6.25% + 2.75%/PIK						13.87%						08/2019						07/2024						11,323						11,323						10,047
									First lien (2)(14)(15)						SOFR(Q)*						6.25% + 2.75%/PIK						13.87%						08/2019						07/2024						3,373						3,373						2,993
																																																			14,696						13,040						0.95		%

The accompanying notes are an integral part of these consolidated financial statements.

15

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Table of Contents

New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
USRP Holdings, Inc.
Business Services									First lien (3)(13)(15)						SOFR(M)						5.00%						9.85%						07/2021						12/2029						$	7,002					$	6,940					$	7,002
									First lien (2)(14)(15)						SOFR(M)						5.00%						9.85%						07/2021						12/2029						5,556						5,525						5,556
																																																			12,465						12,558						0.92		%
Anaplan, Inc.
Software									First lien (3)(13)(15)						SOFR(Q)						5.25%						9.85%						06/2022						06/2029						10,618						10,545						10,618						0.78		%
Project Accelerate Parent, LLC
Software									First lien (5)(15)						SOFR(S)						5.25%						10.54%						02/2024						02/2031						10,545						10,496						10,545						0.77		%
Virtusa Corporation
Business Services									Subordinated (3)(13)						FIXED(S)						7.13%						7.13%						10/2022						12/2028						11,001						9,226						10,425						0.76		%
Specialtycare, Inc.
Healthcare									First lien (2)(14)(15)						SOFR(Q)						5.75%						11.34%						06/2021						06/2028						10,273						10,188						9,978
									First lien (3)(13)(15)(18) - Drawn						SOFR(M)						4.00%						9.76%						06/2021						06/2026						212						209						206
									First lien (3)(13)(15)						SOFR(Q)						5.75%						11.30%						06/2021						06/2028						77						76						75
																																																			10,473						10,259						0.75		%
Ciklum Inc.**
Business Services									First lien (2)(14)(15)						SOFR(Q)						7.00%						12.35%						02/2024						02/2030						9,560						9,450						9,560						0.70		%
CG Group Holdings, LLC
Specialty Chemicals & Materials									First lien (2)(14)(15)						SOFR(Q)*						6.75% + 2.00%/PIK						13.35%						07/2021						07/2027						8,470						8,420						8,427
									First lien (3)(13)(15)(18) - Drawn						SOFR(M)*						6.75% + 2.00%/PIK						13.60%						07/2021						07/2026						950						940						945
																																																			9,360						9,372						0.69		%
Planview Parent, Inc.
Software									Second lien (2)(14)(15)						SOFR(Q)						6.00%						10.60%						06/2024						12/2028						9,231						9,209						9,208						0.67		%
Safety Borrower Holdings LLC
Software									First lien (2)(14)(15)						SOFR(M)						5.25%						10.21%						09/2021						09/2027						7,465						7,443						7,465
									First lien (3)(13)(15)						SOFR(M)						5.25%						10.21%						09/2021						09/2027						1,527						1,527						1,527
									First lien (3)(15)(18) - Drawn						P(Q)						4.25%						12.25%						09/2021						09/2027						192						191						192
																																																			9,161						9,184						0.67		%
Icefall Parent, Inc.
Software									First lien (3)(13)(15)						SOFR(M)						6.50%						11.35%						01/2024						01/2030						8,696						8,616						8,696						0.64		%

The accompanying notes are an integral part of these consolidated financial statements.

16

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Table of Contents

New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
KPSKY Acquisition Inc.
Business Services									First lien (3)(13)(15)						SOFR(Q)						5.50%						10.85%						10/2021						10/2028						$	6,845					$	6,800					$	6,588
									First lien (3)(13)(15)						SOFR(Q)						5.50%						10.74%						06/2022						10/2028						1,152						1,142						1,109
									First lien (3)(13)(15)						SOFR(Q)						5.50%						10.90%						10/2021						10/2028						784						779						755
									First lien (3)(15)(18) - Drawn						SOFR(Q)						5.75%						10.91%						11/2023						10/2028						19						19						18
																																																			8,740						8,470						0.62		%
Park Place Technologies, LLC
Business Services									First lien (2)(14)(15)						SOFR(Q)						5.25%						9.85%						07/2024						03/2031						7,673						7,654						7,654
									First lien (3)(13)(15)(18) - Drawn						SOFR(M)						5.25%						10.23%						07/2024						03/2030						144						144						144
																																																			7,798						7,798						0.57		%
Eclipse Topco, Inc. (36)
Eclipse Buyer Inc.
Software									First lien (4)						SOFR(Q)						4.75%						9.74%						09/2024						09/2031						7,113						7,077						7,077						0.52		%
CRCI Longhorn Holdings, Inc.
Business Services									First lien (2)(14)(15)						SOFR(M)						5.00%						9.85%						08/2024						08/2031						6,516						6,484						6,483
									First lien (3)(13)(15)(18) - Drawn						SOFR(M)						5.00%						9.85%						08/2024						08/2031						543						540						540
																																																			7,024						7,023						0.51		%
Alegeus Technologies Holdings Corp.
Healthcare									First lien (3)(13)						SOFR(Q)						8.25%						13.46%						09/2018						09/2026						6,763						6,763						6,763						0.49		%
Sun Acquirer Corp.
Consumer Services									First lien (2)(14)(15)						SOFR(M)						5.75%						10.71%						09/2021						09/2028						3,914						3,894						3,914
									First lien (2)(14)(15)						SOFR(M)						5.75%						10.71%						09/2021						09/2028						2,767						2,739						2,767
																																																			6,633						6,681						0.49		%
PPVA Black Elk (Equity) LLC
Business Services									Subordinated (3)(15)						—						—						—						05/2013						—						14,500						14,500						6,525						0.48		%
Greenway Health, LLC
Healthcare									First lien (3)(13)(15)						SOFR(S)						6.75%						12.01%						12/2023						04/2029						6,317						6,233						6,317						0.46		%
Bamboo Health Intermediate Holdings (fka Appriss Health Intermediate Holdings, Inc.) (23)
Bamboo Health Holdings, LLC (f/k/a Appriss Health, LLC)
Healthcare									First lien (3)(13)(15)						SOFR(S)						7.00%						12.08%						05/2021						05/2027						6,133						6,102						6,133
									First lien (3)(15)(18) - Drawn						SOFR(S)						7.00%						12.09%						05/2021						05/2027						21						21						21
																																																			6,123						6,154						0.45		%

The accompanying notes are an integral part of these consolidated financial statements.

17

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Table of Contents

New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
Legends Hospitality Holding Company, LLC
Business Services									First lien (5)(15)						SOFR(Q)						5.00%						10.13%						08/2024						08/2031						$	6,081					$	6,021					$	6,020					0.44		%
NC Topco, LLC
Software									First lien (2)(14)(15)						SOFR(M)*						2.50% + 2.75%/PIK						10.10%						08/2024						09/2031						5,812						5,783						5,783						0.42		%
Higginbotham Insurance Agency, Inc.
Business Services									First lien (3)(13)(15)						SOFR(M)						4.50%						9.35%						03/2024						11/2028						3,817						3,817						3,817
									First lien (3)(15)(18) - Drawn						SOFR(M)						4.75%						9.60%						03/2024						11/2028						1,392						1,386						1,392
																																																			5,203						5,209						0.38		%
Healthspan Buyer, LLC
Healthcare									First lien (3)(13)(15)						SOFR(M)						5.50%						10.35%						10/2023						10/2030						5,082						5,036						5,082						0.37		%
Michael Baker International, LLC
Business Services									First lien (3)(13)						SOFR(M)						4.75%						9.60%						05/2024						12/2028						4,904						4,879						4,935						0.36		%
Adelaide Borrower, LLC**
Software									First lien (3)(13)(15)						SOFR(Q)*						3.38% + 3.38%/PIK						11.35%						05/2024						05/2030						4,698						4,654						4,698						0.34		%
Cube Industrials Buyer Inc.
Business Products									First lien (3)(13)						SOFR(Q)						6.00%						11.25%						10/2023						10/2030						4,472						4,441						4,516						0.33		%
Logrhythm, Inc.
Software									First lien (3)(13)(15)						SOFR(Q)						7.50%						12.10%						07/2024						07/2029						4,196						4,133						4,196						0.31		%
RLG Holdings, LLC
Packaging									First lien (2)(14)						SOFR(M)						5.00%						9.85%						06/2024						07/2028						3,980						3,980						3,922						0.29		%
CommerceHub, Inc.
Software									First lien (3)(13)(15)						SOFR(M)						6.25%						11.35%						06/2023						12/2027						3,930						3,596						3,930						0.29		%
Project Power Buyer, LLC
Software									First lien (2)(14)						SOFR(Q)						6.75%						11.35%						01/2023						05/2026						3,526						3,498						3,526						0.26		%
Kene Acquisition, Inc.
Business Services									First lien (2)(14)(15)						SOFR(M)						5.25%						10.10%						02/2024						02/2031						3,518						3,485						3,518						0.26		%
Next Holdco, LLC
Healthcare									First lien (2)(14)(15)						SOFR(Q)						6.00%						11.06%						11/2023						11/2030						3,503						3,479						3,503						0.26		%
CB Buyer, Inc.
Software									First lien (2)(14)(15)						SOFR(Q)						5.25%						9.85%						07/2024						07/2031						3,317						3,300						3,300						0.24		%
Geo Parent Corporation
Business Services									First lien (2)(14)(15)						SOFR(Q)						5.25%						10.60%						12/2018						12/2028						3,291						3,291						3,291						0.24		%
AI Altius US Bidco, Inc.
Business Services									First lien (3)(13)(15)						SOFR(S)						4.75%						10.03%						05/2024						12/2028						3,062						3,047						3,062						0.22		%

The accompanying notes are an integral part of these consolidated financial statements.

18

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Table of Contents

New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
DCA Investment Holding, LLC
Healthcare									First lien (2)(14)(15)						SOFR(Q)						6.41%						11.01%						03/2021						04/2028						$	1,809					$	1,802					$	1,763
									First lien (3)(13)(15)						SOFR(Q)						6.50%						11.10%						12/2022						04/2028						1,013						1,002						989
																																																			2,804						2,752						0.20		%
Galway Borrower LLC
Business Services									First lien (2)(14)(15)						SOFR(Q)						4.50%						9.10%						04/2024						09/2028						1,094						1,086						1,083
									First lien (3)(15)(18) - Drawn						SOFR(Q)						4.50%						9.10%						04/2024						09/2028						1,674						1,649						1,657
																																																			2,735						2,740						0.20		%
Compsych Investments Corp.
Business Services									First lien (2)(14)(15)						SOFR(Q)						4.75%						10.03%						07/2024						07/2031						1,164						1,162						1,162						0.08		%
CoreTrust Purchasing Group LLC
Business Services									First lien (3)(13)(15)						SOFR(M)						5.25%						10.10%						05/2024						10/2029						1,052						1,047						1,052						0.08		%
Reorganized Careismatic Brands, LLC
Healthcare									Trust Claim(2)(15)						—						—						—						06/2024						06/2029						152						152						152
									Trust Claim(3)(15)						—						—						—						06/2024						06/2029						52						52						52
																																																			204						204						0.01		%
Beacon Pointe Harmony, LLC
Financial Services									First lien (3)(15)(18) - Drawn						SOFR(S)						4.75%						9.04%						06/2024						12/2028						56						55						56						—		%
PPVA Fund, L.P.
Business Services									Collateralized Financing (20)(21)						—						—						—						11/2014						—						—						—						—						—		%
Total Funded Debt Investments - United States																																																			$	2,144,187					$	2,117,968					154.85		%
Funded Debt Investments - Jersey
Tennessee Bidco Limited **
Business Services									First lien (3)(13)(15)						SONIA(D)						5.25%						10.45%						07/2024						07/2031						£	30,123					$	37,920					$	40,102
									First lien (3)(13)(15)						SOFR(S)						5.25%						10.51%						07/2024						07/2031						$	19,418					19,323						19,321
									First lien (3)(13)(15)						EURIBOR(S)						5.25%						8.93%						07/2024						07/2031						£	897					958						993
																																																			58,201						60,416						4.42		%
Total Funded Debt Investments - Jersey																																																			$	58,201					$	60,416					4.42		%
Funded Debt Investments - United Kingdom
Aston FinCo S.a r.l. / Aston US Finco, LLC**
Software									Second lien (3)(13)(15)						SOFR(M)						8.25%						13.21%						10/2019						10/2027						$	34,459					$	34,326					$	34,459					2.52		%

The accompanying notes are an integral part of these consolidated financial statements.

19

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Table of Contents

New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
Integro Parent Inc.**
Business Services									First lien (2)(15)						SOFR(Q)*						12.25%/PIK						16.85%						10/2015						10/2024						$	4,549					$	4,548					$	4,549
									First lien (3)(15)						SOFR(Q)*						12.25%/PIK						16.85%						6/8/2018						10/2024						898						896						898
									Second lien (3)(13)(15)						SOFR(Q)*						12.25%/PIK						16.85%						10/2015						07/2025						15,581						14,815						15,581
																																																			20,259						21,028						1.54		%
Total Funded Debt Investments - United Kingdom																																																			$	54,585					$	55,487					4.06		%
Funded Debt Investments - Australia
Atlas AU Bidco Pty Ltd**
Business Services									First lien (3)(13)(15)						SOFR(Q)						5.75%						11.03%						12/2022						12/2029						$	3,454					$	3,412					$	3,454
									First lien (3)(13)(15)						SOFR(Q)						5.75%						11.03%						12/2023						12/2029						1,345						1,333						1,345
																																																			4,745						4,799						0.35		%
Total Funded Debt Investments - Australia																																																			$	4,745					$	4,799					0.35		%
Total Funded Debt Investments																																																			$	2,261,718					$	2,238,670					163.68		%
Equity - United States
Dealer Tire Holdings, LLC
Distribution & Logistics									Preferred shares (3)(13)(15)						FIXED(S)*						7.00%/PIK						7.00%						09/2021						—						56,271						$	70,384					$	74,040					5.41		%
Symplr Software Intermediate Holdings, Inc.
Healthcare									Preferred shares (4)(15)						SOFR(Q)*						10.50%/PIK						15.20%						11/2018						—						7,500						15,757						15,773
									Preferred shares (3)(13)(15)						SOFR(Q)*						10.50%/PIK						15.20%						11/2018						—						2,586						5,432						5,438
																																																			21,189						21,211						1.55		%
Knockout Intermediate Holdings I Inc.(33)
Software									Preferred shares (3)(15)						SOFR(S)*						10.75%/PIK						16.01%						06/2022						—						15,150						19,270						19,454						1.42		%
ACI Parent Inc.(29)
Healthcare									Preferred shares (3)(15)						FIXED(Q)*						11.75%/PIK						11.75%						08/2021						—						12,500						17,912						15,947						1.17		%
Project Essential Super Parent, Inc.
Software									Preferred shares (3)(15)						SOFR(Q)*						9.50%/PIK						14.10%						04/2021						—						10,000						15,376						14,323						1.05		%
Diamond Parent Holdings Corp. (28)
Diligent Preferred Issuer, Inc.
Software									Preferred shares (3)(15)						FIXED(S)*						10.50%/PIK						10.50%						04/2021						—						10,000						14,162						13,746						1.01		%
HB Wealth Management, LLC
Financial Services									Preferred shares (10)(15)						FIXED(Q)						4.00%						4.00%						09/2021						—						48,303						4,728						9,512						0.70		%
OA Topco, L.P.(32)
Healthcare									Ordinary shares (3)(15)						—						—						—						12/2021						—						2,000,000						2,000						6,182						0.45		%

The accompanying notes are an integral part of these consolidated financial statements.

20

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Table of Contents

New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
Eclipse Topco Holdings, Inc. (fka Transcendia Holdings, Inc.)
Packaging									Preferred shares (3)(15)						FIXED(S)*						15.00%/PIK						15.00%						05/2024						—						2,900						$	2,900					$	2,900
									Preferred shares (3)(15)						FIXED(S)(20)*						11.50%/PIK						11.50%						05/2024						—						3,691						2,565						2,702
									Ordinary shares (3)(15)						—						—						—						05/2024						—						290						145						305
																																																			5,610						5,907						0.43		%
FS WhiteWater Holdings, LLC(30)
Consumer Services									Ordinary shares (5)(15)						—						—						—						12/2021						—						50,000						5,000						4,508						0.33		%
Appriss Health Holdings, Inc. (23)
Bamboo Health Intermediate Holdings (fka Appriss Health Intermediate Holdings, Inc.)(23)
Healthcare									Preferred shares (3)(15)						FIXED(Q)*						11.00%/PIK						11.00%						05/2021						—						2,333						3,249						3,201						0.23		%
Ambrosia Holdco Corp. (35)
Distribution & Logistics									Ordinary shares (2)(15)						—						—						—						01/2024						—						126,536						1,348						1,348
									Ordinary shares (3)(15)						—						—						—						01/2024						—						122,044						1,300						1,300
																																																			2,648						2,648						0.19		%
Pioneer Topco I, L.P.(31)
Software									Ordinary shares (11)(15)						—						—						—						11/2021						—						199,980						2,000						2,000						0.15		%
Eclipse Topco, Inc. (36)
Software									Preferred shares (4)						FIXED(Q)*						12.50%/PIK						12.50%						09/2024						—						190						1,877						1,877						0.14		%
GEDC Equity, LLC
Healthcare									Ordinary shares (3)(15)						—						—						—						06/2023						—						190,000						190						100						0.01		%
Ancora Acquisition LLC
Education									Preferred shares (8)(15)						—						—						—						08/2013						—						372,000						83						—						—		%
AAC Lender Holdings, LLC(27)
Education									Ordinary shares (3)(15)						—						—						—						03/2021						—						758						—						—						—		%
Total Shares - United States																																																			$	185,678					$	194,656					14.23		%
Equity - Hong Kong
Bach Special Limited (Bach Preference Limited)**
Education									Preferred shares (3)(13)(15)						FIXED(Q)*						12.25%/PIK						12.25%						09/2017						—						134,468						$	13,367					$	13,447					0.98		%
Total Shares - Hong Kong																																																			$	13,367					$	13,447					0.98		%
Total Shares																																																			$	199,045					$	208,103					15.21		%

The accompanying notes are an integral part of these consolidated financial statements.

21

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Table of Contents

New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
Warrants - United States
Reorganized Careismatic Brands, LLC
Healthcare									Warrants (2)(15)						—						—						—						06/2024						—						138,622						$	182					$	327
									Warrants (3)(15)						—						—						—						06/2024						—						47,459						62						112
																																																			244						439						15.21		%
Total Warrants - United States																																																			$	244					$	439					—
Total Funded Investments																																																			$	2,461,007					$	2,447,212					—
Unfunded Debt Investments - United States
Compsych Investments Corp.
Business Services									First lien (3)(15)(18) - Undrawn						—						—						—						07/2024						07/2027						$	333					$	—					$	—					—		%
Beacon Pointe Harmony, LLC
Financial Services									First lien (3)(15)(18) - Undrawn						—						—						—						06/2024						12/2025						2,098						—						—						—		%
AAC Lender Holdings, LLC(27)
American Achievement Corporation (aka AAC Holding Corp.)
Education									First lien (3)(15)(18) - Undrawn						—						—						—						01/2021						09/2026						2,652						—						—						—		%
DOXA Insurance Holdings LLC
Business Services									First lien (3)(15)(18) - Undrawn						—						—						—						05/2024						05/2026						3,046						—						—						—		%
AI Altius US Bidco, Inc.
Business Services									First lien (3)(15)(18) - Undrawn						—						—						—						05/2024						05/2026						3,077						—						—						—		%
Riskonnect Parent, LLC
Software									First lien (3)(15)(18) - Undrawn						—						—						—						03/2024						03/2026						6,349						—						—						—		%
Higginbotham Insurance Agency, Inc.
Business Services									First lien (3)(15)(18) - Undrawn						—						—						—						03/2024						03/2026						6,602						—						—						—		%
Safety Borrower Holdings LLC
Software									First lien (3)(15)(18) - Undrawn						—						—						—						09/2021						09/2027						320						(2)						—						—		%
Project Power Buyer, LLC
Software									First lien (3)(18) - Undrawn						—						—						—						01/2023						05/2025						184						(3)						—						—		%
CoreTrust Purchasing Group LLC
Business Services									First lien (3)(15)(18) - Undrawn						—						—						—						05/2024						05/2026						578						(3)						—						—		%

The accompanying notes are an integral part of these consolidated financial statements.

22

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Table of Contents

New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
Next Holdco, LLC
Healthcare									First lien (3)(15)(18) - Undrawn						—						—						—						11/2023						11/2025						$	903					$	—					$	—
									First lien (3)(15)(18) - Undrawn						—						—						—						11/2023						11/2029						339						(3)						—
																																																			(3)						—						—		%
Bamboo Health Intermediate Holdings (fka Appriss Health Intermediate Holdings, Inc.)( (23)
Bamboo Health Holdings, LLC (f/k/a Appriss Health, LLC)
Healthcare									First lien (3)(15)(18) - Undrawn						—						—						—						05/2021						05/2027						396						(4)						—						—		%
Cube Industrials Buyer Inc.
Business Products									First lien (3)(18) - Undrawn						—						—						—						10/2023						10/2029						517						(4)						—						—		%
PPV Intermediate Holdings, LLC
Consumer Services									First lien (3)(15)(18) - Undrawn						—						—						—						08/2022						08/2029						486						(5)						—						—		%
Sun Acquirer Corp.
Consumer Services									First lien (3)(15)(18) - Undrawn						—						—						—						09/2021						09/2027						559						(5)						—						—		%
Kene Acquisition, Inc.
Business Services									First lien (3)(15)(18) - Undrawn						—						—						—						02/2024						02/2026						1,561						—						—
									First lien (3)(15)(18) - Undrawn						—						—						—						02/2024						02/2031						468						(5)						—
																																																			(5)						—						—		%
Logrhythm, Inc.
Software									First lien (3)(15)(18) - Undrawn						—						—						—						07/2024						07/2029						420						(6)						—						—		%
Wealth Enhancement Group, LLC
Financial Services									First lien (3)(15)(18) - Undrawn						—						—						—						08/2021						10/2027						2,040						(6)						—						—		%
Adelaide Borrower, LLC**
Software									First lien (3)(15)(18) - Undrawn						—						—						—						05/2024						05/2026						1,048						—						—
									First lien (3)(15)(18) - Undrawn						—						—						—						05/2024						05/2030						667						(7)						—
																																																			(7)						—						—		%
Icefall Parent, Inc.
Software									First lien (3)(15)(18) - Undrawn						—						—						—						01/2024						01/2030						828						(8)						—						—		%

The accompanying notes are an integral part of these consolidated financial statements.

23

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Table of Contents

New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
Kele Holdco, Inc.
Distribution & Logistics									First lien (3)(15)(18) - Undrawn						—						—						—						02/2020						02/2026						$	1,660					$	(8)					$	—					—		%
Project Accelerate Parent, LLC
Software									First lien (3)(15)(18) - Undrawn						—						—						—						02/2024						02/2031						1,510						(8)						—						—		%
Bullhorn, Inc.
Software									First lien (3)(15)(18) - Undrawn						—						—						—						05/2024						05/2026						1,847						—						—
									First lien (3)(15)(18) - Undrawn						—						—						—						09/2019						10/2029						1,447						(8)						—
																																																			(8)						—						—		%
USRP Holdings, Inc.
Business Services									First lien (3)(15)(18) - Undrawn						—						—						—						07/2021						12/2029						893						(9)						—						—		%
Daxko Acquisition Corporation
Software									First lien (3)(15)(18) - Undrawn						—						—						—						10/2021						10/2027						924						(9)						—						—		%
PDI TA Holdings, Inc.
Software									First lien (4)(15)(18) - Undrawn						—						—						—						01/2024						02/2026						4,225						—						—
									First lien (3)(15)(18) - Undrawn						—						—						—						01/2024						02/2031						1,830						(9)						—
																																																			(9)						—						—		%
Xactly Corporation
Software									First lien (3)(15)(18) - Undrawn						—						—						—						07/2017						07/2027						992						(10)						—						—		%
AmeriVet Partners Management, Inc.
Consumer Services									First lien (3)(15)(18) - Undrawn						—						—						—						02/2022						02/2028						1,969						(10)						—						—		%
MRI Software LLC
Software									First lien (3)(15)(18) - Undrawn						—						—						—						01/2020						02/2027						2,002						(10)						—						—		%
Calabrio, Inc.
Software									First lien (3)(15)(18) - Undrawn						—						—						—						04/2021						04/2027						1,487						(11)						—						—		%
Healthspan Buyer, LLC
Healthcare									First lien (3)(15)(18) - Undrawn						—						—						—						10/2023						10/2030						1,229						(12)						—						—		%

The accompanying notes are an integral part of these consolidated financial statements.

24

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Table of Contents

New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
Coupa Holdings, LLC
Software									First lien (3)(15)(18) - Undrawn						—						—						—						02/2023						08/2025						$	1,291					$	—					$	—
									First lien (3)(15)(18) - Undrawn						—						—						—						02/2023						02/2029						989						(12)						—
																																																			(12)						—						—		%
Brave Parent Holdings, Inc.
Software									First lien (3)(15)(18) - Undrawn						—						—						—						05/2024						05/2025						376						—						—
									First lien (3)(15)(18) - Undrawn						—						—						—						11/2023						11/2030						1,594						(6)						—
									First lien (5)(15)(18) - Undrawn						—						—						—						11/2023						05/2025						963						(7)						—
																																																			(13)						—						—		%
FS WhiteWater Holdings, LLC(30)
FS WhiteWater Borrower, LLC
Consumer Services									First lien (3)(15)(18) - Undrawn						—						—						—						12/2021						12/2027						1,400						(14)						—						—		%
IMO Investor Holdings, Inc.
Healthcare									First lien (3)(15)(18) - Undrawn						—						—						—						05/2022						05/2028						1,548						(15)						—						—		%
Trinity Air Consultants Holdings Corporation
Business Services									First lien (2)(14)(15)(18) - Undrawn						—						—						—						06/2021						12/2024						785						—						—
									First lien (3)(15)(18) - Undrawn						—						—						—						06/2021						06/2028						1,501						(15)						—
																																																			(15)						—						—		%
YLG Holdings, Inc.
Business Services									First lien (3)(15)(18) - Undrawn						—						—						—						11/2019						10/2026						5,433						(20)						—						—		%
Avalara, Inc.
Software									First lien (3)(15)(18) - Undrawn						—						—						—						10/2022						10/2028						1,720						(21)						—						—		%
Fortis Solutions Group, LLC
Packaging									First lien (3)(15)(18) - Undrawn						—						—						—						06/2022						06/2025						3,588						—						—
									First lien (3)(13)(15)(18) - Undrawn						—						—						—						10/2021						10/2027						2,098						(21)						—
																																																			(21)						—						—		%

The accompanying notes are an integral part of these consolidated financial statements.

25

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Table of Contents

New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
Foreside Financial Group, LLC
Business Services									First lien (3)(15)(18) - Undrawn						—						—						—						05/2022						11/2024						$	1,903					$	—					$	—
									First lien (3)(15)(18) - Undrawn						—						—						—						03/2024						03/2026						3,474						—						—
									First lien (3)(15)(18) - Undrawn						—						—						—						05/2022						09/2027						2,095						(21)						—
																																																			(21)						—						—		%
Nelipak Holding Company
Packaging									First lien (3)(15)(18) - Undrawn						—						—						—						03/2024						03/2027						3,501						—						—
									First lien (3)(13)(15)(16)(18) - Undrawn						—						—						—						03/2024						03/2027						6,411						—						—
									First lien (3)(13)(15)(16)(18) - Undrawn						—						—						—						03/2024						03/2031						1,196						(10)						—
									First lien (3)(15)(18) - Undrawn						—						—						—						03/2024						03/2031						1,620						(12)						—
																																																			(22)						—						—		%
Knockout Intermediate Holdings I Inc.(33)
Kaseya Inc.
Software									First lien (3)(15)(18) - Undrawn						—						—						—						06/2022						06/2025						2,865						—						—
									First lien (3)(15)(18) - Undrawn						—						—						—						06/2022						06/2029						2,888						(22)						—
																																																			(22)						—						—		%
Oranje Holdco, Inc.
Education									First lien (3)(15)(18) - Undrawn						—						—						—						02/2023						02/2029						1,860						(23)						—						—		%
Infogain Corporation
Business Services									First lien (3)(15)(18) - Undrawn						—						—						—						07/2021						07/2026						3,124						(23)						—						—		%
OEConnection LLC
Software									First lien (3)(15)(18) - Undrawn						—						—						—						04/2024						04/2026						8,101						—						—
									First lien (3)(15)(18) - Undrawn						—						—						—						04/2024						04/2031						5,063						(25)						—
																																																			(25)						—						—		%
Pioneer Topco I, L.P.(31)
Pioneer Buyer I, LLC
Software									First lien (3)(15)(18) - Undrawn						—						—						—						11/2021						11/2027						3,284						(26)						—						—		%

The accompanying notes are an integral part of these consolidated financial statements.

26

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Table of Contents

New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
GS Acquisitionco, Inc.
Software									First lien (3)(15)(18) - Undrawn						—						—						—						03/2024						03/2026						$	1,440					$	—					$	—
									First lien (3)(15)(18) - Undrawn						—						—						—						08/2019						05/2028						4,196						(26)						—
																																																			(26)						—						—		%
GC Waves Holdings, Inc.
Financial Services									First lien (3)(18) - Undrawn						—						—						—						10/2019						10/2030						3,951						(30)						—						—		%
OA Topco, L.P.(32)
OA Buyer, Inc.
Healthcare									First lien (3)(15)(18) - Undrawn						—						—						—						12/2021						12/2028						3,600						(36)						—						—		%
Paw Midco, Inc.
AAH Topco, LLC
Consumer Services									First lien (3)(15)(18) - Undrawn						—						—						—						12/2021						12/2027						3,659						(37)						—						—		%
PetVet Care Centers, LLC
Consumer Services									First lien (3)(15)(18) - Undrawn						—						—						—						10/2023						11/2025						3,708						—						—
									First lien (3)(15)(18) - Undrawn						—						—						—						10/2023						11/2029						3,708						(37)						—
																																																			(37)						—						—		%
Ciklum Inc.**
Business Services									First lien (3)(15)(18) - Undrawn						—						—						—						02/2024						08/2025						11,955						—						—
									First lien (3)(15)(18) - Undrawn						—						—						—						02/2024						02/2030						2,989						(37)						—
																																																			(37)						—						—		%
IG Investments Holdings, LLC
Business Services									First lien (3)(15)(18) - Undrawn						—						—						—						09/2021						09/2027						3,780						(38)						—						—		%
TigerConnect, Inc.
Healthcare									First lien (2)(15)(18) - Undrawn						—						—						—						02/2022						02/2025						76						—						—
									First lien (3)(15)(18) - Undrawn						—						—						—						02/2022						02/2028						4,267						(43)						—
																																																			(43)						—						—		%
CentralSquare Technologies, LLC
Software									First lien (3)(15)(18) - Undrawn						—						—						—						04/2024						04/2030						3,980						(50)						—						—		%

The accompanying notes are an integral part of these consolidated financial statements.

27

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Table of Contents

New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
Recorded Future, Inc.
Software									First lien (3)(18) - Undrawn						—						—						—						06/2024						06/2030						$	4,531					$	(23)					$	—
									First lien (3)(18) - Undrawn						—						—						—						06/2024						06/2026						7,311						(37)						—
																																																			(60)						—						—		%
Galway Borrower LLC
Business Services									First lien (3)(15)(18) - Undrawn						—						—						—						04/2024						10/2025						136						(1)						(1)						(0.00)%
CG Group Holdings, LLC
Specialty Chemicals & Materials									First lien (3)(15)(18) - Undrawn						—						—						—						07/2021						07/2026						226						(3)						(1)						(0.00)%
CB Buyer, Inc.
Software									First lien (3)(15)(18) - Undrawn						—						—						—						07/2024						07/2026						934						—						—
									First lien (3)(15)(18) - Undrawn						—						—						—						07/2024						07/2031						364						(2)						(2)
																																																			(2)						(2)						(0.00)%
CRCI Longhorn Holdings, Inc.
Business Services									First lien (3)(15)(18) - Undrawn						—						—						—						08/2024						08/2026						1,629						—						—
									First lien (3)(15)(18) - Undrawn						—						—						—						08/2024						08/2031						543						(3)						(3)
																																																			(3)						(3)						(0.00)%
NC Topco, LLC
Software									First lien (3)(15)(18) - Undrawn						—						—						—						08/2024						08/2026						1,672						—						—
									First lien (3)(15)(18) - Undrawn						—						—						—						08/2024						09/2031						669						(3)						(3)
																																																			(3)						(3)						(0.00)%
Associations, Inc.
Business Services									First lien (3)(15)(18) - Undrawn						—						—						—						05/2024						07/2028						3,840						(2)						(2)
									First lien (3)(15)(18) - Undrawn						—						—						—						05/2024						07/2028						3,077						(2)						(2)
																																																			(4)						(4)						(0.00)%
Park Place Technologies, LLC
Business Services									First lien (3)(15)(18) - Undrawn						—						—						—						07/2024						03/2030						757						(2)						(2)
									First lien (3)(15)(18) - Undrawn						—						—						—						07/2024						09/2025						1,201						(3)						(3)
																																																			(5)						(5)						(0.00)%

The accompanying notes are an integral part of these consolidated financial statements.

28

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Table of Contents

New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
Legends Hospitality Holding Company, LLC
Business Services									First lien (5)(15)(18) - Undrawn						—						—						—						08/2024						08/2026						$	358					$	—					$	—
									First lien (3)(15)(18) - Undrawn						—						—						—						08/2024						08/2030						715						(7)						(7)
																																																			(7)						(7)						(0.00)%
Specialtycare, Inc.
Healthcare									First lien (3)(15)(18) - Undrawn						—						—						—						06/2021						06/2026						347						(5)						(10)						(0.00)%
DOCS, MSO, LLC
Healthcare									First lien (3)(15)(18) - Undrawn						—						—						—						06/2022						06/2028						2,405						—						(13)						(0.00)%
GraphPAD Software, LLC
Healthcare									First lien (3)(15)(18) - Undrawn						—						—						—						06/2024						06/2031						1,682						(4)						(4)
									First lien (3)(15)(18) - Undrawn						—						—						—						06/2024						06/2026						4,038						(10)						(10)
																																																			(14)						(14)						(0.00)%
Groundworks, LLC
Business Services									First lien (4)(18) - Undrawn						—						—						—						03/2024						03/2026						2,938						(15)						(17)						(0.00)%
iCIMS, Inc.
Software									First lien (2)(15)(18) - Undrawn						—						—						—						09/2023						08/2028						7,403						(2)						—
									First lien (3)(15)(18) - Undrawn						—						—						—						08/2022						08/2028						2,471						(22)						(19)
																																																			(24)						(19)						(0.00)%
Eclipse Topco, Inc. (36)
Eclipse Buyer Inc.
Software									First lien (4)(18) - Undrawn						—						—						—						09/2024						09/2026						1,206						—						—
									First lien (3)(18) - Undrawn						—						—						—						09/2024						09/2031						4,190						(21)						(21)
																																																			(21)						(21)						(0.00)%
Diamond Parent Holdings Corp. (28)
Diligent Corporation
Software									First lien (3)(15)(18) - Undrawn						—						—						—						04/2024						08/2030						2,265						(8)						(8)
									First lien (3)(15)(18) - Undrawn						—						—						—						04/2024						04/2026						3,398						(13)						(13)
																																																			(21)						(21)						(0.00)%

The accompanying notes are an integral part of these consolidated financial statements.

29

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Table of Contents

New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
Baker Tilly Advisory Group, LP
Financial Services									First lien (3)(15)(18) - Undrawn						—						—						—						05/2024						06/2026						$	2,065					$	—					$	(15)
									First lien (3)(15)(18) - Undrawn						—						—						—						05/2024						06/2030						2,894						(22)						(22)
																																																			(22)						(37)						(0.00)%
ACI Parent Inc.(29)
ACI Group Holdings, Inc.
Healthcare									First lien (3)(15)(18) - Undrawn						—						—						—						08/2021						08/2027						1,295						(13)						(38)						(0.00)%
Power Grid Holdings, Inc.
Business Products									First lien (3)(15)(18) - Undrawn						—						—						—						11/2023						12/2030						4,289						(43)						(43)						(0.00)%
KPSKY Acquisition Inc.
Business Services									First lien (3)(15)(18) - Undrawn						—						—						—						11/2023						11/2025						1,568						—						(47)						(0.00)%
Notorious Topco, LLC
Consumer Products									First lien (3)(15)(18) - Undrawn						—						—						—						11/2021						05/2027						880						(7)						(64)						(0.00)%
Model N, Inc.
Software									First lien (3)(15)(18) - Undrawn						—						—						—						06/2024						06/2031						4,825						(24)						(24)
									First lien (3)(15)(18) - Undrawn						—						—						—						06/2024						06/2026						9,047						—						(45)
																																																			(24)						(69)						(0.01)		%
Total Unfunded Debt Investments - United States																																																			$	(1,089)					$	(439)					(0.01)		%
Unfunded Debt Investments - Australia
Atlas AU Bidco Pty Ltd**
Business Services									First lien (3)(15)(18) - Undrawn						—						—						—						12/2022						12/2028						$	320					$	(5)					$	—
Total Unfunded Debt Investments - Australia																																																			$	(5)					$	—					—		%
Total Unfunded Debt Investments																																																			$	(1,094)					$	(439)					(0.03)		%
Total Non-Controlled/Non-Affiliated Investments																																																			$	2,459,913					$	2,446,773					178.86		%

The accompanying notes are an integral part of these consolidated financial statements.

30

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Table of Contents

New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
Non-Controlled/Affiliated Investments (37)
Funded Debt Investments - United States
TVG-Edmentum Holdings, LLC (24)
Edmentum Ultimate Holdings, LLC
Education									Subordinated (3)(15)						SOFR(Q)*						13.00%/PIK						17.60%						12/2020						01/2027						$	21,323					$	21,250					$	21,323					1.56		%
Eagle Infrastructure Super HoldCo, LLC (34)
Eagle Infrastructure Services, LLC (fka FR Arsenal Holdings II Corp.)
Business Services									First lien (2)(14)(15)						SOFR(Q)						7.50%						12.25%						03/2023						04/2028						10,628						10,628						10,628
									First lien (3)(15)						SOFR(Q)						7.50%						12.25%						03/2023						04/2028						340						340						341
																																																			10,968						10,969						0.80		%
Permian Holdco 3, Inc.
Permian Trust
Energy									Trust Claim(9)(15)						FIXED(Q)(20)*						10.00%/PIK						10.00%						03/2021						—						247						—						—
									First lien (3)(15)						SOFR(Q)(20)*						10.00%/PIK						11.00%						07/2020						—						3,409						—						—
																																																			—						—						—		%
Total Funded Debt Investments - United States																																																			$	32,218					$	32,292					2.36		%
Equity - United States
TVG-Edmentum Holdings, LLC(24)
Education									Ordinary shares (3)(15)						FIXED(Q)*						12.00%/PIK						12.00%						12/2020						—						48,899						$	65,291					$	63,285
									Preferred shares (3)(15)						FIXED(Q)*						15.00%/PIK						15.00%						05/2024						—						3,480						7,253						7,253
																																																			72,544						70,538						5.16		%
Eagle Infrastructure Super HoldCo, LLC
Business Services									Ordinary shares (3)(15)						—						—						—						03/2023						—						72,536						4,104						8,187						0.60		%
Sierra Hamilton Holdings Corporation
Energy									Ordinary shares (2)(15)						—						—						—						07/2017						—						25,000,000						11,501						1,799
									Ordinary shares (3)(15)						—						—						—						07/2017						—						2,786,000						1,282						201
																																																			12,783						2,000						0.15		%
Total Shares - United States																																																			$	89,431					$	80,725					5.91		%
Total Non-Controlled/Affiliated Investments																																																			$	121,649					$	113,017					8.27		%

The accompanying notes are an integral part of these consolidated financial statements.

31

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Table of Contents

New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
Controlled Investments (38)
Funded Debt Investments - United States
New Benevis Topco, LLC (26)
New Benevis Holdco, Inc.
Healthcare									First lien (2)(15)						FIXED(Q)*						12.00%/PIK						12.00%						10/2020						10/2026						$	44,697					$	44,697					$	44,697
									First lien (3)(13)(15)						FIXED(Q)*						12.00%/PIK						12.00%						10/2020						10/2026						32,168						32,168						32,168
									Subordinated (3)(15)						FIXED(M)*						12.00%/PIK						12.00%						10/2020						10/2026						23,098						22,115						18,480
																																																			98,980						95,345						6.97		%
New Permian Holdco, Inc.
New Permian Holdco, L.L.C.
Energy									First lien (3)(13)(15)						SOFR(Q)						9.00%						13.87%						10/2020						12/2024						23,336						23,336						23,336
									First lien (3)(13)(15)(18) - Drawn						SOFR(Q)						6.00%						10.87%						10/2020						12/2024						19,472						19,472						19,472
																																																			42,808						42,808						3.13		%
UniTek Global Services, Inc.
Business Services									Second lien (3)(15)						FIXED(Q)*						15.00%/PIK						15.00%						12/2020						06/2028						15,031						15,031						15,031
									Second lien (3)(15)						FIXED(Q)*						15.00%/PIK						15.00%						07/2022						06/2028						6,664						6,664						6,664
																																																			21,695						21,695						1.59		%
NHME Holdings Corp. (25)
National HME, Inc.
Healthcare									Second lien (3)(15)						SOFR(Q)(20)*						5.00%/PIK						10.59%						11/2018						11/2025						8,281						7,872						3,000						0.22		%
Total Funded Debt Investments - United States																																																			$	171,355					$	162,848					11.91		%
Equity - United States
NMFC Senior Loan Program III LLC**
Investment Fund									Membership interest (3)(15)						—						—						—						05/2018						—						—						$	160,000					$	160,000					11.70		%
NMFC Senior Loan Program IV LLC**
Investment Fund									Membership interest (3)(15)						—						—						—						05/2021						—						—						112,400						112,400						8.22		%
NM NL Holdings, L.P.**
Net Lease									Membership interest (7)(15)						—						—						—						06/2018						—						—						74,248						103,239						7.55		%
New Benevis Topco, LLC (26)
Healthcare									Ordinary shares (2)(15)						—						—						—						10/2020						—						325,516						27,154						28,481
									Ordinary shares (3)(15)						—						—						—						10/2020						—						152,548						12,768						13,347
																																																			39,922						41,828						3.06		%

The accompanying notes are an integral part of these consolidated financial statements.

32

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Table of Contents

New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
UniTek Global Services, Inc.
Business Services									Preferred shares (3)(15)						FIXED(Q)*						20.00%/PIK						20.00%						08/2018						—						21,717,347						$	21,717					$	20,558
									Preferred shares (3)(15)						FIXED(Q)*						20.00%/PIK						20.00%						08/2019						—						12,907,638						12,908						12,478
									Preferred shares (3)(15)						FIXED(Q)(20)*						19.00%/PIK						19.00%						06/2017						—						19,795,435						19,795						2,407
									Preferred shares (2)(15)						FIXED(Q)(20)*						13.50%/PIK						13.50%						01/2015						—						29,326,545						26,946						—
									Preferred shares (3)(15)						FIXED(Q)(20)*						13.50%/PIK						13.50%						01/2015						—						8,104,462						7,447						—
									Ordinary shares (2)(15)						—						—						—						01/2015						—						2,096,477						1,925						—
									Ordinary shares (3)(15)						—						—						—						01/2015						—						1,993,749						532						—
																																																			91,270						35,443						2.59		%
New Permian Holdco, Inc.
Energy									Ordinary shares (3)(15)						—						—						—						10/2020						—						100						11,155						20,000						1.46		%
NM CLFX LP
Net Lease									Membership interest (7)(15)						—						—						—						10/2017						—						—						12,279						10,031						0.73		%
NM YI, LLC
Net Lease									Membership interest (7)(15)						—						—						—						09/2019						—						—						6,272						9,961						0.73		%
NM GP Holdco, LLC**
Net Lease									Membership interest (7)(15)						—						—						—						06/2018						—						—						850						1,649						0.12		%
QID TRH Holdings LLC (22)
Haven Midstream Holdings LLC(22)
Specialty Chemicals & Materials									Ordinary shares (12)(15)						—						—						—						10/2021						—						80						—						652
									Profit Interest (6)(15)						—						—						—						10/2021						—						5						—						2
																																																			—						654						0.05		%
NHME Holdings Corp.(25)
Healthcare									Ordinary shares (3)(15)						—						—						—						11/2018						—						640,000						4,000						—						—		%
Total Shares - United States																																																			$	512,396					$	495,205					36.21		%
Total Shares																																																			$	512,396					$	495,205					36.21		%
Warrants - United States
UniTek Global Services, Inc.
Business Services									Warrants (3)(15)						—						—						—						12/2020						02/2025						13,339						$	—					$	47,428					3.47		%
NHME Holdings Corp. (25)
Healthcare									Warrants (3)(15)						—						—						—						11/2018						—						160,000						1,000						—						—		%
Total Warrants - United States																																																			$	1,000					$	47,428					3.47		%
Total Funded Investments																																																			$	684,751					$	705,481					51.59		%
Unfunded Debt Investments - United States
New Permian Holdco, Inc.
New Permian Holdco, L.L.C.
Energy									First lien (3)(15)(18) - Undrawn						—						—						—						10/2020						12/2024						2,423						$	—					$	—					—		%

The accompanying notes are an integral part of these consolidated financial statements.

33

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Table of Contents

New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

Portfolio Company, Location and Industry (1)									Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity / Expiration Date						Principal  Amount,  Par Value  or Shares (17)						Cost						Fair  Value						Percent of Net Assets
Haven Midstream Holdings LLC (22)
Haven Midstream LLC
Specialty Chemicals & Materials									First lien (3)(15)(18) - Undrawn						—						—						—						12/2021						10/2026						8,000						$	—					$	—					—		%
Total Unfunded Debt Investments - United States																																																			$	—					$	—					—		%
Total Controlled Investments																																																			$	684,751					$	705,481					51.59		%
Total Investments																																																			$	3,266,313					$	3,265,271					238.72		%

(1)New Mountain Finance Corporation (the "Company") generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"). These investments are generally subject to certain limitations on resale, and may be deemed to be "restricted securities" under the Securities Act.

(2)Investment is held by New Mountain Finance Holdings, L.L.C.

(3)Investment is held by New Mountain Finance Corporation

(4)Investment is held by New Mountain Finance SBIC, L.P.

(5)Investment is held by New Mountain Finance SBIC II, L.P.

(6)Investment is held by NMF QID NGL Holdings, Inc.

(7)Investment is held by New Mountain Net Lease Corporation.

(8)Investment is held by NMF Ancora Holdings, Inc.

(9)Investment is held by NMF Permian Holdings, LLC.

(10)Investment is held by NMF HB, Inc.

(11)Investment is held by NMF Pioneer, Inc.

(12)Investment is held by NMF TRM, LLC.

(13)Investment is pledged as collateral for the NMFC Credit Facility, a revolving credit facility among the Company as the Borrower, Sumitomo Mitsui Banking Corporation, as administrative agent, sole lead arranger, and sole book runner, and the lenders party thereto. See Note 7. Borrowings, for details

(14)Investment is pledged as collateral for the Holdings Credit Facility, a revolving credit facility among the Company, as the Collateral Manager, New Mountain Finance Holdings, L.L.C. as the Borrower, Wells Fargo Securities, LLC, as the Administrative Agent, and Wells Fargo Bank, National Association, as the Lender and Collateral Custodian.. See Note 7. Borrowings, for details.

(15)The fair value of the Company's investment is determined using unobservable inputs that are significant to the overall fair value measurement. See Note 4. Fair Value, for details.

(16)Investment is denominated in foreign currency and is translated into U.S. dollars as of the valuation date. As of September 30, 2024, the par value U.S. dollar equivalent of the Tennessee Bidco Limited first lien term loans is $41,302 and the Nelipak Holding Company first lien term loan, undrawn delayed draw term loan and undrawn revolver is $18,445, $7,138 and $1,332, respectively. See Note 2. Summary of Significant Accounting Policies, for details.

(17)Par amount is denominated in U.S. Dollar unless otherwise noted, which may include British Pound ("£") and/or Euro ("€").

(18)Par value amounts represent the drawn or undrawn (as indicated in type of investment) portion of revolving credit facilities or delayed draws. Cost amounts represent the cash received at settlement date net of the impact of paydowns and cash paid for drawn revolvers or delayed draws.

(19)Total Coupon is payable in cash unless otherwise indicated. A majority of the variable rate debt investments bear interest and dividends at a rate that may be determined by reference to the Secured Overnight Financing Rate (SOFR), the Prime Rate (P), the Sterling Overnight Interbank Average Rate (SONIA) and Euro Interbank Offered Rate (EURIBOR) and which resets daily (D), monthly (M), quarterly (Q), semi-annually (S) or annually (A). For each investment the current coupon rate provided reflects the rate in effect as of September 30, 2024.

(20)Investment is on non-accrual status. See Note 3. Investments, for details.

(21)The Company holds one security purchased under a collateralized agreement to resell on its Consolidated Statement of Assets and Liabilities with a cost basis of $30,000 and a fair value of $13,500 as of September 30, 2024. See Note 2. Summary of Significant Accounting Policies, for details.

The accompanying notes are an integral part of these consolidated financial statements.

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New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

(22)The Company holds investments in multiple entities of Haven Midstream Holdings LLC. The Company holds 4.6% of the Class B profits interest in QID NGL, LLC (which at closing represented 97.0% of the ownership in the class B units in QID TRH Holdings, LLC), class A common units of Haven Midstream Holdings LLC, and holds a first lien revolver in Haven Midstream LLC.

(23)The Company holds preferred equity in Bamboo Health Intermediate Holdings, Inc.(fka Appriss Health Intermediate Holdings, Inc.) and holds a first lien term loan and a first lien revolver in Bamboo Health Holdings, LLC (fka Appriss Health, LLC), a wholly-owned subsidiary of Bamboo Health Intermediate Holdings, Inc.

(24)The Company holds ordinary shares and preferred equity in TVG-Edmentum Holdings, LLC, and subordinated notes in Edmentum Ultimate Holdings, LLC, a wholly-owned subsidiary of TVG-Edmentum Holdings, LLC.

(25)The Company holds ordinary shares and warrants in NHME Holdings Corp., as well as a second lien Tranche A Term Loan in National HME, Inc., a wholly-owned subsidiary of NHME Holdings Corp. The second lien Tranche A Term Loan is entitled to receive 20% of the interest earned on the first lien Tranche A Term Loan, which accrues interest at a rate of SOFR + 5.00%, and 20% of the interest earned on the first lien Tranche B Term Loan, which accrues interest at a rate of SOFR + 6.00%.

(26)The Company holds ordinary shares in New Benevis Topco, LLC, and holds first lien last out term loans and subordinated notes in New Benevis Holdco Inc., a wholly-owned subsidiary of New Benevis Topco, LLC.

(27)The Company holds ordinary shares in AAC Lender Holdings, LLC and two first lien term loans, a first lien revolver and subordinated notes in American Achievement Corporation, a partially-owned subsidiary of AAC Lender Holdings, LLC.

(28)The Company holds investments in two wholly-owned subsidiaries of Diamond Parent Holdings Corp. The Company holds three first lien term loans and a first lien revolver in Diligent Corporation and preferred equity in Diligent Preferred Issuer Inc.

(29)The Company holds investments in ACI Parent Inc. and a wholly-owned subsidiary of ACI Parent Inc. The Company holds a first lien term loan, two first lien delayed draws and a first lien revolver in ACI Group Holdings, Inc. and preferred equity in ACI Parent Inc.

(30)The Company holds ordinary shares in FS WhiteWater Holdings, LLC, and a first lien term loan, a first lien revolver, and three first lien delayed draws in FS WhiteWater Borrower, LLC, a partially-owned subsidiary of FS WhiteWater Holdings, LLC.

(31)The Company holds ordinary shares in Pioneer Topco I, L.P., and two first lien term loans and a first lien revolver in Pioneer Buyer I, LLC, a wholly-owned subsidiary of Pioneer Topco I, L.P.

(32)The Company holds ordinary shares in OA Topco, L.P., and two first lien term loans and a first lien revolver in OA Buyer, Inc., a wholly-owned subsidiary of OA Topco, L.P.

(33)The Company holds preferred equity in Knockout Intermediate Holdings I Inc. and a first lien term loan, a first lien revolver and a first lien delayed draw in Kaseya, Inc., a wholly-owned subsidiary of Knockout Intermediate Holdings I Inc.

(34)The Company holds ordinary shares in Eagle Infrastructure Super HoldCo, LLC and a first lien term loan in Eagle Infrastructure Services, LLC (fka FR Arsenal Holdings II Corp.), a wholly-owned subsidiary of Eagle Infrastructure Super Holdco, LLC.

(35)The Company holds ordinary shares in Ambrosia Holdco Corp. and two first lien term loans and a subordinated loan in TMK Hawk Parent, Corp., a wholly-owned subsidiary of Ambrosia Holdco Corp.

(36)The Company holds preferred equity in Eclipse Topco, Inc. and a first lien term loan, a first lien revolver and a first lien delayed draw in Eclipse Buyer, Inc., a wholly-owned subsidiary of Eclipse Topco, Inc..

(37)Denotes a portfolio company of which the Company is an “Affiliated Person”, as defined in the Investment Company Act of 1940, as amended (the "1940 Act"), due to owning or holding the power to vote 5.0% or more of the outstanding voting securities of the investment but not controlling the company. Fair value as of September 30, 2024 and December 31, 2023, along with transactions during the nine months ended September 30, 2024 in which the issuer was a non-controlled/affiliated investment, is as follows:

Portfolio Company						Fair Value at December 31, 2023						Gross Additions (A)						Gross Redemptions (B)						Net Change In Unrealized Appreciation (Depreciation)						Fair Value at September 30, 2024						Net Realized Gains (Losses)						Interest Income						Dividend Income						Other Income
Eagle Infrastructure Services, LLC (fka FR Arsenal Holdings II Corp.) / Eagle Infrastructure Super HoldCo, LLC						$	17,873					$	—					$	(50)					$	1,333					$	19,156					$	—					$	1,088					$	—					$	—
Sierra Hamilton Holdings Corporation						2,000						—						—						—						2,000						—						—						—						—
TVG-Edmentum Holdings, LLC / Edmentum Ultimate Holdings, LLC						113,786						13,804						—						(35,729)						91,861						—						2,685						4,211						188
Total Non-Controlled/Affiliated Investments						$	133,659					$	13,804					$	(50)					$	(34,396)					$	113,017					$	—					$	3,773					$	4,211					$	188

(A)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, payment-in-kind (“PIK”) interest or dividends, the amortization of discounts, reorganizations or restructurings and the movement of an existing portfolio company into this category from a different category.

(B)Gross redemptions include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, reorganizations or restructurings and the movement of an existing portfolio company out of this category into a different category.

The accompanying notes are an integral part of these consolidated financial statements.

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New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(in thousands, except shares)

(unaudited)

(38)    Denotes portfolio companies which the Company "controls", as defined in the 1940 Act, due to owning or holding the power to vote more than 25.0% of the outstanding voting securities of the investment. Fair value as of September 30, 2024 and December 31, 2023, along with transactions during the nine months ended September 30, 2024 in which the issuer was a controlled investment, is as follows:

Portfolio Company (1)						Fair Value at December 31, 2023						Gross Additions (A)						Gross Redemptions (B)						Net Change In Unrealized Appreciation (Depreciation)						Fair Value at September 30, 2024						Net Realized Gains (Losses)						Interest Income						Dividend Income						Other Income
Haven Midstream LLC / Haven Midstream Holdings LLC / QID TRH Holdings LLC						$	3,419					$	—					$	—					$	(2,765)					$	654					$	3,895					$	—					$	—					$	30
National HME, Inc./NHME Holdings Corp.						3,000						—						—						—						3,000						—						—						—						—
New Benevis Topco, LLC / New Benevis Holdco, Inc.						135,401						7,411						—						(5,639)						137,173						—						9,679						—						375
New Permian Holdco, Inc. / New Permian Holdco, L.L.C.						63,170						5,637						—						(5,999)						62,808						—						4,010						—						375
NM APP Canada Corp.						7						—						—						(7)						—						31						—						—						—
NM CLFX LP						11,731						—						—						(1,700)						10,031						—						—						601						—
NM NL Holdings, L.P.						96,071						—						(2,123)						9,291						103,239						(548)						—						6,133						181
NM GP Holdco, LLC						1,048						—						(11)						612						1,649						(3)						—						67						—
NM YI LLC						9,550						—						—						411						9,961						—						—						654						—
NMFC Senior Loan Program III LLC						140,000						20,000						—						—						160,000						—						—						17,204						—
NMFC Senior Loan Program IV LLC						112,400						—						—						—						112,400						—						—						12,153						—
UniTek Global Services, Inc.						91,999						7,014						—						5,553						104,566						—						2,301						4,715						1,088
Total Controlled Investments						$	667,796					$	40,062					$	(2,134)					$	(243)					$	705,481					$	3,375					$	15,990					$	41,527					$	2,049

(A)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest or dividends, the amortization of discounts, reorganizations or restructurings and the movement of an existing portfolio company into this category from a different category.

(B)Gross redemptions include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, reorganizations or restructurings and the movement of an existing portfolio company out of this category into a different category.

*    All or a portion of interest contains PIK interest. See Note 2. Summary of Significant Accounting Policies-Revenue Recognition, for details.

**    Indicates assets that the Company deems to be “non-qualifying assets” under Section 55(a) of the 1940 Act. Qualifying assets must represent at least 70.0% of the Company’s total assets at the time of acquisition of any additional non-qualifying assets. As of September 30, 2024, 15.4% of the Company’s total assets are represented by investments at fair value that are considered non-qualifying assets.

The accompanying notes are an integral part of these consolidated financial statements.

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New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

September 30, 2024

(unaudited)

						September 30, 2024
Investment Type						Percent of Total Investments at Fair Value
First lien						63.48		%
Second lien						7.68		%
Subordinated						3.36		%
Equity and other						25.48		%
Total investments						100.00		%

 

						September 30, 2024
Industry Type						Percent of Total Investments at Fair Value
Software						28.37		%
Business Services						17.64		%
Healthcare						15.58		%
Investment Funds (includes investments in joint ventures)						8.34		%
Consumer Services						6.09		%
Education						5.74		%
Financial Services						3.84		%
Net Lease						3.82		%
Distribution & Logistics						3.53		%
Packaging						2.10		%
Energy						1.98		%
Food & Beverage						1.25		%
Business Products						0.82		%
Consumer Products						0.59		%
Specialty Chemicals & Materials						0.31		%
Total investments						100.00		%

 

						September 30, 2024
Interest Rate Type						Percent of Total Investments at Fair Value
Floating rates						87.37		%
Fixed rates						12.63		%
Total investments						100.00		%

The accompanying notes are an integral part of these consolidated financial statements.

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New Mountain Finance Corporation

 

Consolidated Schedule of Investments

 December 31, 2023

(in thousands, except shares)

Portfolio Company, Location and Industry(1)						Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity/Expiration Date						Principal Amount, Par Value or Shares (17)						Cost						Fair Value						Percent of Net Assets
Non-Controlled/Non-Affiliated Investments
Funded Debt Investments - United States
Paw Midco, Inc.
AAH Topco, LLC
Consumer Services						First lien (2)(15)(18) - Drawn						SOFR(M)						5.50%						10.96%						12/2021						12/2027						$	22,965					$	22,772					$	22,965
						First lien (8)(15)						SOFR(M)						5.50%						10.96%						12/2021						12/2027						20,426						20,278						20,426
						First lien (4)(15)						SOFR(M)						5.50%						10.96%						01/2022						12/2027						9,698						9,628						9,698
						First lien (4)(15)(18) - Drawn						SOFR(M)						5.50%						10.96%						12/2021						12/2027						7,450						7,388						7,450
						Subordinated (3)(15)						FIXED(Q)*						11.50%/PIK						11.50%						12/2021						12/2031						14,011						13,865						13,420
						Subordinated (4)(15)						FIXED(Q)*						11.50%/PIK						11.50%						01/2022						12/2031						5,495						5,437						5,263
																																																79,368						79,222						5.95		%
Associations, Inc.
Business Services						First lien (2)(15)						SOFR(Q)*						4.00% + 2.50%/PIK						12.18%						07/2021						07/2027						33,701						33,604						33,701
						First lien (2)(15)						SOFR(Q)*						4.00% + 2.50%/PIK						12.13%						07/2021						07/2027						9,037						9,007						9,037
						First lien (8)(15)						SOFR(Q)*						4.00% + 2.50%/PIK						12.15%						07/2021						07/2027						9,036						9,006						9,036
						First lien (8)(15)						SOFR(Q)*						4.00% + 2.50%/PIK						12.13%						07/2021						07/2027						5,457						5,439						5,457
						First lien (8)(15)						SOFR(Q)*						4.00% + 2.50%/PIK						12.17%						07/2021						07/2027						4,341						4,327						4,341
						First lien (2)(15)						SOFR(Q)*						4.00% + 2.50%/PIK						12.16%						10/2023						07/2027						4,121						4,102						4,121
						First lien (3)(15)(18) - Drawn						SOFR(Q)						6.50%						12.14%						07/2021						07/2027						1,252						1,246						1,252
																																																66,731						66,945						5.03		%
Knockout Intermediate Holdings I Inc. (32)
Kaseya Inc.
Software						First lien (2)(15)						SOFR(Q)*						3.50% + 2.50%/PIK						11.38%						06/2022						06/2029						63,633						63,237						63,633
						First lien (3)(15)(18) - Drawn						SOFR(M)						5.50%						10.86%						06/2022						06/2029						973						966						973
						First lien (3)(15)(18) - Drawn						SOFR(Q)*						3.50% + 2.50%/PIK						11.38%						06/2022						06/2029						237						235						237
																																																64,438						64,843						4.87		%

The accompanying notes are an integral part of these consolidated financial statements.

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New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

 December 31, 2023

(in thousands, except shares)

Portfolio Company, Location and Industry(1)						Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity/Expiration Date						Principal Amount, Par Value or Shares (17)						Cost						Fair Value						Percent of Net Assets
GC Waves Holdings, Inc.
Financial Services						First lien (2)(15)						SOFR(M)						6.00%						11.46%						08/2021						08/2028						$	40,270					$	40,008					$	40,270
						First lien (5)(15)						SOFR(M)						6.00%						11.46%						08/2021						08/2028						21,666						21,591						21,666
						First lien (2)(15)(18) - Drawn						SOFR(M)						6.00%						11.46%						10/2019						08/2028						451						446						451
																																																62,045						62,387						4.68		%
GS Acquisitionco, Inc.
Software						First lien (2)(15)						SOFR(Q)						5.50%						11.00%						08/2019						05/2026						34,023						33,947						34,023
						First lien (5)(15)						SOFR(Q)						5.50%						11.00%						08/2019						05/2026						21,521						21,476						21,521
																																																55,423						55,544						4.17		%
CentralSquare Technologies, LLC
Software						Second lien (3)(15)						SOFR(Q)						7.50%						13.00%						08/2018						08/2026						47,838						47,581						45,072
						Second lien (8)(15)						SOFR(Q)						7.50%						13.00%						08/2018						08/2026						7,500						7,459						7,066
																																																55,040						52,138						3.91		%
IG Intermediateco LLC
Infogain Corporation
Business Services						First lien (2)(15)						SOFR(M)						5.50%						10.96%						07/2021						07/2028						18,707						18,605						18,707
						First lien (8)(15)						SOFR(M)						5.50%						10.96%						07/2022						07/2028						7,844						7,781						7,844
						Subordinated (3)(15)						SOFR(Q)						8.25%						13.70%						07/2022						07/2029						17,245						17,060						17,245
																																																43,446						43,796						3.29		%
iCIMS, Inc.
Software						First lien (8)(15)						SOFR(Q)*						3.88%/PIK + 3.38%						12.62%						08/2022						08/2028						30,783						30,569						31,008
						First lien (2)(15)						SOFR(Q)						7.25%						12.62%						10/2022						08/2028						7,366						7,311						7,440
						First lien (2)(15)						SOFR(Q)*						3.88%/PIK + 3.38%						12.62%						09/2023						08/2028						4,772						4,726						4,807
						First lien (3)(15)(18) - Drawn						SOFR(Q)						6.75%						12.10%						08/2022						08/2028						471						467						471
																																																43,073						43,726						3.28		%
Deca Dental Holdings LLC
Healthcare						First lien (2)(15)						SOFR(Q)						5.75%						11.20%						08/2021						08/2028						37,477						37,204						36,791
						First lien (3)(15)						SOFR(Q)						5.75%						11.20%						08/2021						08/2028						3,945						3,915						3,873
						First lien (3)(15)(18) - Drawn						SOFR(Q)						5.75%						11.20%						08/2021						08/2027						2,623						2,597						2,576
																																																43,716						43,240						3.25		%
MRI Software LLC
Software						First lien (5)(15)						SOFR(Q)						5.50%						10.95%						01/2020						02/2027						21,655						21,610						21,598
						First lien (3)(15)						SOFR(Q)						5.50%						10.95%						03/2021						02/2027						7,670						7,655						7,650
						First lien (2)(15)						SOFR(Q)						5.50%						10.95%						03/2021						02/2027						4,568						4,561						4,557
						First lien (2)(15)						SOFR(Q)						5.50%						10.95%						01/2020						02/2027						3,140						3,133						3,132
						First lien (3)(15)						SOFR(Q)						5.50%						10.95%						01/2020						02/2027						801						799						800
																																																37,758						37,737						2.83		%

The accompanying notes are an integral part of these consolidated financial statements.

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New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

 December 31, 2023

(in thousands, except shares)

Portfolio Company, Location and Industry(1)						Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity/Expiration Date						Principal Amount, Par Value or Shares (17)						Cost						Fair Value						Percent of Net Assets
WEG Sub Intermediate Holdings, LLC
Wealth Enhancement Group, LLC
Financial Services						First lien (2)(15)						SOFR(Q)						5.75%						11.11%						08/2021						10/2027						$	18,758					$	18,715					$	18,758
						First lien (2)(15)(18) - Drawn						SOFR(Q)						5.75%						11.20%						05/2022						10/2027						13,336						13,307						13,336
						First lien (2)(15)						SOFR(Q)						5.75%						11.23%						01/2022						10/2027						1,241						1,232						1,241
						First lien (2)(15)						SOFR(Q)						5.75%						11.23%						01/2022						10/2027						832						826						832
						Subordinated (3)(15)						FIXED(Q)*						15.00%/PIK						15.00%						05/2023						05/2033						3,513						3,464						3,459
																																																37,544						37,626						2.83		%
Recorded Future, Inc.
Software						First lien (8)(15)						SOFR(M)						5.25%						10.71%						08/2019						07/2025						24,220						24,147						24,220
						First lien (2)(15)						SOFR(M)						5.25%						10.71%						03/2021						07/2025						12,524						12,484						12,524
																																																36,631						36,744						2.76		%
Auctane Inc. (fka Stamps.com Inc.)
Software						First lien (8)(15)						SOFR(Q)						5.75%						11.23%						10/2021						10/2028						21,847						21,684						21,473
						First lien (2)(15)						SOFR(Q)						5.75%						11.23%						10/2021						10/2028						14,774						14,664						14,522
																																																36,348						35,995						2.70		%
OEC Holdco, LLC (21)
OEConnection LLC
Software						Second lien (2)(15)						SOFR(M)						7.00%						12.46%						12/2021						09/2027						23,406						23,239						23,406
						Second lien (2)(15)						SOFR(M)						7.00%						12.46%						09/2019						09/2027						12,044						11,977						12,044
																																																35,216						35,450						2.66		%
Foreside Financial Group, LLC
Business Services						First lien (2)(15)						SOFR(Q)						5.50%						11.04%						05/2022						09/2027						33,698						33,444						33,698
						First lien (3)(15)(18) - Drawn						SOFR(Q)						5.50%						11.02%						05/2022						09/2027						1,006						996						1,006
						First lien (3)(15)						SOFR(Q)						5.50%						11.04%						05/2022						09/2027						347						344						347
																																																34,784						35,051						2.63		%
KAMC Holdings, Inc.
Business Services						Second lien (2)(15)						SOFR(Q)						8.00%						13.63%						08/2019						08/2027						18,750						18,673						17,079
						Second lien (8)(15)						SOFR(Q)						8.00%						13.63%						08/2019						08/2027						18,750						18,673						17,079
																																																37,346						34,158						2.56		%
IG Investments Holdings, LLC
Business Services						First lien (2)(15)						SOFR(Q)						6.00%						11.48%						09/2021						09/2028						28,839						28,625						28,839
						First lien (2)(15)						SOFR(Q)						6.00%						11.48%						02/2022						09/2028						4,214						4,197						4,214
																																																32,822						33,053						2.48		%

The accompanying notes are an integral part of these consolidated financial statements.

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New Mountain Finance Corporation

 

Consolidated Schedule of Investments (Continued)

 December 31, 2023

(in thousands, except shares)

Portfolio Company, Location and Industry(1)						Type of Investment						Reference						Spread						Total Coupon (19)						Acquisition Date						Maturity/Expiration Date						Principal Amount, Par Value or Shares (17)						Cost						Fair Value						Percent of Net Assets
Granicus, Inc.
Software						First lien (4)(15)						SOFR(Q)*						5.50% + 1.50%/PIK						12.48%						01/2021						01/2027						$	15,463					$	15,396					$	15,463
						First lien (8)(15)						SOFR(Q)*						5.50% + 1.50%/PIK						12.48%						01/2021						01/2027						5,981						5,954						5,981
						First lien (2)(15)						SOFR(Q)*						5.50% + 1.50%/PIK						12.48%						01/2021						01/2027						5,899						5,874						5,899
						First lien (2)(15)						SOFR(Q)						6.00%						11.48%						04/2021						01/2027						4,542						4,511						4,542
						First lien (3)(15)(18) - Drawn						SOFR(M)						6.50%						11.96%						01/2021						01/2027						579						575						579
																																																32,310						32,464						2.44		%
TigerConnect, Inc.
Healthcare						First lien (8)(15)						SOFR(Q)*						3.38% + 3.38%/PIK						12.28%						02/2022						02/2028