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Software Interest Rate 11.42% Reference Rate and Spread SOFR + 7.75% Floor 0.50% Maturity 07/22/302026-03-310001372807bcic:SecondLienOrSeniorSecuredDebtMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001372807Non-controlled affiliated investments Northeast Metal Works LLC Type of Investment Second Lien/Senior Secured Debt Industry Classification Metals & Mining2024-12-310001372807bcic:TwoThousandAndThirtyNotesMember2025-12-310001372807bcic:OneMTermSOFRFloorMemberbcic:KeyBankCreditFacilityMember2025-07-152025-07-150001372807us-gaap:InvestmentAffiliatedIssuerControlledMember2025-12-310001372807bcic:TwoThousandEighteenTwoSecuredNotesMemberbcic:FiscalTwoThousandTwentyThreeMember2026-03-310001372807srt:MinimumMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt IDC Infusion Services LLC Health Care Providers & Services Interest Rate 8.70% Reference Rate and Spread SOFR + 5.00% Floor 1.00% Maturity 07/09/292026-03-310001372807bcic:FinancialServicesMember2026-03-310001372807us-gaap:RevolvingCreditFacilityMember2019-12-180001372807srt:MinimumMember2025-12-310001372807Non-controlled affiliated investments Sierra Hamilton Holdings Corporation Type of Investment Common Stock and Membership Units Industry Classification Energy Equipment & Services2025-12-310001372807bcic:FiscalTwoThousandTwentyFiveMemberbcic:TwoThousandAndTwentySixNotesMember2026-03-310001372807Non-controlled affiliated investments Burgaflex Holdings, LLC - Class A Type of Investment Common Stock and Membership Units Industry Classification Automobile Components2026-03-310001372807bcic:Freedom3AndGreatLakesJointVentureMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Dodge Data & Analytics LLC Professional Services Interest Rate 10.25% Reference Rate and Spread SOFR + 6.25% Floor 0.50% Maturity 01/31/292025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Advantage Capital Holdings LLC Financial Services Interest Rate 13.00% Reference Rate and Spread 13.00%, 5.00% PIK Maturity 04/14/272026-03-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPriceVolatilityMembersrt:WeightedAverageMemberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2025-12-310001372807US-GAAP Investment, Identifier [Axis] > Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Anthem Sports & Entertainment Inc. (Term Loan C) Media Maturity 11/15/272024-12-310001372807Investments in Affiliate Portfolio Companies Common Stock and Membership Units Phoenix Aviation Capital, LLC Aerospace & Defense2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Ivanti Software, Inc. Software Interest Rate 8.64% Reference Rate and Spread SOFR + 4.75% Floor 0.75% Maturity 06/01/292025-12-310001372807Investments in Controlled Affiliated Portfolio Companies Joint Ventures KCAP Freedom 3 LLC Joint Venture2025-12-310001372807Non-controlled affiliated investments American Clinical Solutions, LLC Type of Investment First Lien/Senior Secured Debt Industry Classification Health Care Providers & Services2025-01-012025-12-310001372807bcic:TwoThousandAndTwentySixNotesMember2025-10-070001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units BGPT Maverick, L.P. (Metrc Inc.) Communications Equipment2025-12-310001372807US-GAAP Investment, Identifier [Axis] > Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Colonnade Intermediate, LLC Software Maturity 09/30/262025-12-310001372807bcic:IndependentDirectorsMember2026-01-012026-03-310001372807bcic:AccountingStandardUpdate201104Memberbcic:JointVenturesMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien /Senior Secured Debt MSM Acquisitions, Inc. Software Interest Rate 9.82% Reference Rate and Spread SOFR + 6.00% Floor 1.00% Maturity 12/09/262025-12-310001372807bcic:CommonStockAndMembershipUnitsMemberus-gaap:InvestmentAffiliatedIssuerMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units AIP Capital, LLC Financial Services2026-03-310001372807bcic:GarrisonCapitalEquityHoldingsIiLlcMember2026-01-012026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:FirstLienDebtMemberus-gaap:IncomeApproachValuationTechniqueMember2025-12-310001372807bcic:JmpCreditAdvisorsCloVLtdMemberus-gaap:CollateralizedLoanObligationsMemberbcic:CloFundSecuritiesMember2026-03-310001372807bcic:SevenPointFiveZeroNotesDue2028Member2025-10-100001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberbcic:FirstLienDebtMembersrt:MaximumMemberbcic:MeasurementInputRecoveryPercentageMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Anthem Sports & Entertainment Inc. - Warrant for CS Media2025-12-3100013728072025-01-012025-12-310001372807us-gaap:SecuredDebtMemberbcic:KeyBankCreditFacilityMember2025-07-150001372807bcic:PMAParentHoldingsLLCMemberbcic:FirstLienDebtMember2026-03-310001372807bcic:SixMonthSOFRMember2026-03-310001372807bcic:FirstLienSeniorSecuredDebtMemberus-gaap:InvestmentAffiliatedIssuerMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:MarchThirtyOneTwoThousandTwentySixMemberbcic:TwoThousandAndTwentyEightNotesMember2026-03-310001372807bcic:IncentiveFeeWaiverAgreementMembersrt:MaximumMember2026-01-012026-03-310001372807Non-controlled affiliated investments Riddell, Inc. Type of Investment First Lien/Senior Secured Debt Industry Classification Leisure Products2026-03-310001372807bcic:DerivativesMember2026-03-310001372807bcic:SixMonthSOFRMember2025-12-310001372807Non-controlled affiliated investments EBSC Holdings LLC (Riddell, Inc.) Type of Investment Preferred Stock and Units Industry Classification Leisure Products2026-03-310001372807Non-controlled affiliated investments Princeton Medspa Partners, LLC - Warrant Type of Investment Common Stock and Membership Units Industry Classification Diversified Consumer Services2026-01-012026-03-310001372807bcic:DiversifiedConsumerServicesMember2025-12-310001372807bcic:TradingCompaniesAndDistributorsMember2026-03-310001372807bcic:TwoThousandAndThirtyTwoConvertibleNotesMember2026-01-012026-03-310001372807US-GAAP Investment, Identifier [Axis] > Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt AMCP Pet Holdings, Inc. Consumer Staples Distribution & Retail Interest Rate 10.99% Reference Rate and Spread SOFR + 7.00%, 3.00% PIK Floor 1.00% Maturity 01/04/282025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Keg Logistics LLC Diversified Consumer Services Interest Rate 10.58% Reference Rate and Spread SOFR + 6.75%, 4.75% PIK Floor 1.00% Maturity 10/01/262026-03-310001372807bcic:TwoThousandAndTwentyEightNotesMember2026-03-310001372807bcic:FirstLienDebtMemberbcic:BradshawInternationalParentCorpMember2025-12-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:SubordinatedDebtMemberbcic:EnterpriseMarketValueValuationTechniqueMemberus-gaap:MeasurementInputRevenueMultipleMember2026-03-310001372807US-GAAP Investment, Identifier [Axis] > Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Accurate Background, LLC IT Services Interest Rate 9.93% Reference Rate and Spread SOFR + 6.00% Floor 1.00% Maturity 03/26/292025-12-310001372807us-gaap:FairValueInputsLevel3Membersrt:MinimumMemberus-gaap:MeasurementInputSharePriceMemberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Preferred Stock and Units Epilog Partners SPV III, LLC (Care Connectors Medical Group) Health Care Providers & Services2026-03-310001372807bcic:MetrcIncMemberbcic:FirstLienDebtMember2025-12-3100013728072025-03-122025-03-120001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMembersrt:WeightedAverageMemberbcic:FirstLienDebtMemberbcic:MeasurementInputRecoveryPercentageMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:DecemberThirtyOneTwoThousandTwentyFiveMemberbcic:KeyBankCreditFacilityMember2025-12-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPriceVolatilityMemberus-gaap:IncomeApproachValuationTechniqueMembersrt:MaximumMemberus-gaap:EquitySecuritiesMember2026-03-310001372807bcic:AutomobileComponentsMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Preferred Stock and Units 4L Ultimate Topco Corporation Commercial Services & Supplies2025-12-310001372807bcic:MediaMember2025-12-310001372807Non-controlled affiliated investments Princeton Medspa Partners, LLC Type of Investment Preferred Stock and Units Industry Classification Diversified Consumer Services2026-01-012026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt South Street Securities Holdings, Inc Financial Services Interest Rate 9.00% Maturity 09/20/272026-03-310001372807Investments in Affiliate Portfolio Companies First Lien/Senior Secured Debt PMP OPCO, LLC (Princeton Medspa Partners, LLC) (Revolver) Diversified Consumer Services Reference Rate and Spread SOFR + 8.50% Floor 2.00% Maturity 05/31/292026-03-310001372807Non-controlled affiliated investments Princeton Medspa Partners, LLC Type of Investment Preferred Stock and Units Industry Classification Diversified Consumer Services2026-03-310001372807US-GAAP Investment, Identifier [Axis] > Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt CCMG Buyer, LLC (Care Connectors Medical Group) Health Care Providers & Services Interest Rate 8.47% Reference Rate and Spread SOFR + 4.75% Floor 1.00% Maturity 05/08/302025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Subordinated Debt Tubular Textile Machinery, Inc. Machinery Interest Rate 5.00% Maturity 10/29/272025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Florida Food Products, LLC First Lien, Term Loan A Food Products Interest Rate 9.15% Reference Rate and Spread SOFR + 5.50% Floor 2.00% Maturity 10/15/302026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Second Lien/Senior Secured Debt Dcert Buyer, Inc. Software Interest Rate 10.67% Reference Rate and Spread SOFR + 7.00% Maturity 02/19/292026-03-310001372807bcic:TwoThousandEighteenTwoSecuredNotesMemberbcic:FiscalTwoThousandTwentyMember2026-03-310001372807bcic:CapitalMarketsMember2026-03-310001372807bcic:Dryden30SeniorLoanFundMemberus-gaap:CollateralizedLoanObligationsMemberbcic:CloFundSecuritiesMember2026-03-310001372807bcic:O2026M8DividendsMemberus-gaap:SubsequentEventMember2026-05-072026-05-070001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Ancile Solutions, Inc. Software Interest Rate 13.94% Reference Rate and Spread SOFR + 10.00% Floor 1.00% Maturity 06/11/262026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Project Castle, Inc. Machinery Interest Rate 9.36% Reference Rate and Spread SOFR + 5.50% Floor 0.50% Maturity 06/01/292026-03-310001372807Non-controlled affiliated investments Phoenix Aviation Capital, LLC Type of Investment Common Stock and Membership Units Industry Classification Aerospace & Defense2026-01-012026-03-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberbcic:SecondLienDebtMember2025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:BookValueMultipleMemberbcic:EnterpriseMarketValueValuationTechniqueMemberus-gaap:DerivativeMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:MarchThirtyOneTwoThousandTwentySixMemberbcic:KeyBankCreditFacilityMember2026-03-310001372807us-gaap:CommonStockMember2025-12-310001372807bcic:LeisureProductsMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Centric Brands Inc. Textiles, Apparel & Luxury Goods Interest Rate 9.17% Reference Rate and Spread SOFR + 5.50% Floor 1.00% Maturity 08/06/292026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Everyware Global, Inc. Household Products2025-12-310001372807bcic:SixPointOneTwoFiveNotesDue2022Member2020-01-012020-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt HDC/HW Intermediate Holdings, LLC - Term Loan B Software Maturity 06/22/262026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Bradshaw International Parent Corp. (Revolver) Specialty Retail Reference Rate and Spread SOFR + 5.75% Floor 1.00% Maturity 10/21/262026-03-310001372807bcic:ConsumerStaplesDistributionAndRetailMember2025-12-310001372807Non-controlled affiliated investments Northeast Metal Works LLC - Class O Preferred Type of Investment Preferred Stock and Units Industry Classification Metals & Mining2024-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:MeasurementInputTimeToExitMembersrt:MinimumMemberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Derivatives Advantage Capital Holdings LLC Financial Services2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Florida Food Products, LLC First Lien, Term Loan C Food Products Interest Rate 9.43% Reference Rate and Spread SOFR + 5.50% Floor 2.00% Maturity 10/15/302025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberbcic:FirstLienDebtMembersrt:MinimumMemberbcic:MeasurementInputEBITDAMember2025-12-310001372807us-gaap:SubsequentEventMemberbcic:TwoThousandAndTwentySixNotesMember2026-04-272026-04-270001372807us-gaap:SubordinatedDebtMember2025-12-310001372807Investments in Affiliate Portfolio Companies Preferred Stock and Units EBSC Holdings LLC (Riddell, Inc.) Leisure Products Interest Rate 10.00% PIK2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Radius Aerospace, Inc. Aerospace & Defense Interest Rate 9.85% Reference Rate and Spread SOFR + 6.00%, 0.25% PIK Floor 1.00% Maturity 03/29/272026-03-310001372807bcic:FourPointEightSevenFiveNotesDue2026Memberbcic:FiscalTwoThousandTwentyThreeMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Spark Buyer, LLC Electrical Equipment Interest Rate 8.90% Reference Rate and Spread SOFR + 5.25% Floor 0.75% Maturity 10/15/312026-03-310001372807bcic:LRFCAcquisitionMember2025-07-152025-07-150001372807bcic:CloFundSecuritiesIndustryMember2025-12-310001372807Non-controlled affiliated investments Datalink, LLC Type of Investment Common Stock and Membership Units Industry Classification Health Care Technology2026-01-012026-03-310001372807bcic:DecemberThirtyOneTwoThousandTwentyFiveMemberbcic:TwoThousandAndThirtyNotesMember2025-12-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Taoglas USA Holdings Inc. Electronic Equipment, Instruments & Components Interest Rate 10.95% Reference Rate and Spread SOFR + 7.25% Floor 1.00% Maturity 02/28/292026-03-310001372807Investments in Affiliate Portfolio Companies First Lien/Senior Secured Debt Riddell, Inc. Leisure Products Interest Rate 9.74% Reference Rate and Spread SOFR + 6.00% Floor 1.00% Maturity 03/29/292025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien /Senior Secured Debt Newbury Franklin Industrials, LLC Trading Companies & Distributors Interest Rate 10.88% Reference Rate and Spread SOFR + 7.00% Floor 2.00% Maturity 12/11/292025-12-310001372807bcic:TwoThousandEighteenTwoSecuredNotesMemberbcic:FiscalTwoThousandTwentyOneMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units VTX Holdings LLC - Series C IT Services2026-03-310001372807bcic:F3CJointVentureMember2026-01-012026-03-310001372807bcic:HouseholdProductsMember2025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:AccountingStandardUpdate201104Memberbcic:JointVenturesMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:MeasurementInputTimeToExitMemberus-gaap:IncomeApproachValuationTechniqueMembersrt:MaximumMemberus-gaap:EquitySecuritiesMember2025-12-310001372807bcic:AtpOilAndGasCorporationMember2025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:MeasurementInputRequiredRateOfReturnMembersrt:MinimumMemberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2025-12-310001372807us-gaap:CommonStockMember2024-12-310001372807Non-controlled affiliated investments GreenPark Infrastructure, LLC - Series A Type of Investment Preferred Stock and Units Industry Classification Commercial Services & Supplies2024-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberbcic:MeasurementInputExpectedTakeoutPriceMembersrt:MaximumMemberus-gaap:EquitySecuritiesMember2026-03-310001372807Controlled investments KCAP Freedom 3, LLC Type of Investment Joint Ventures Industry Classification Joint Venture2025-01-012025-12-310001372807us-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:IncomeApproachValuationTechniqueMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:AccountingStandardUpdate201104Member2026-03-310001372807us-gaap:RevolvingCreditFacilityMemberbcic:MarchThirtyOneTwoThousandTwentySixMember2026-03-310001372807Non-controlled affiliated investments JMP Credit Advisors CLO IV LTD Type of Investment Collateralized Loan Obligations Industry Classification CLO Fund Securities2024-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Resolute Investment Managers, Inc. Capital Markets Interest Rate 10.43% Reference Rate and Spread SOFR + 6.50% Maturity 10/30/282025-12-310001372807bcic:FourPointEightSevenFiveNotesDue2026Member2021-06-300001372807us-gaap:FairValueInputsLevel3Memberbcic:JointVenturesMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:IncomeApproachValuationTechniqueMember2025-12-310001372807Non-controlled affiliated investments Series B-Great Lakes Funding II LLC Type of Investment Joint Ventures Industry Classification Joint Venture2025-01-012025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Anthem Sports & Entertainment Inc. - Class B Warrant Media2026-03-310001372807Non-controlled affiliated investments Phoenix Aviation Capital, LLC Type of Investment First Lien/Senior Secured Debt Industry Classification Aerospace & Defense2025-01-012025-12-310001372807us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-12-310001372807Non-controlled affiliated investments Kleen-Tech Acquisition, LLC Type of Investment Common Stock and Membership Units Industry Classification Commercial Services & Supplies2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Spinrite, Inc. Leisure Products Interest Rate 11.17% Reference Rate and Spread SOFR + 7.50% Maturity 12/05/302026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Second Lien/Senior Secured Debt VTX Intermediate Holdings, Inc. IT Services Interest Rate 12.50% PIK Maturity 12/12/302025-12-310001372807us-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:MeasurementInputSharePriceMemberus-gaap:EquitySecuritiesMember2026-03-310001372807bcic:SecondLienDebtMember2026-01-012026-03-310001372807us-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberbcic:MeasurementInputExpectedTakeoutPriceMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:IncomeApproachValuationTechniqueMember2026-03-310001372807bcic:MarchThirtyOneTwoThousandTwentySixMemberbcic:TwoThousandTwentyEightNotesMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Colonnade Intermediate, LLC (Revolver) Software Maturity 09/30/262026-03-310001372807Non Controlled Affiliated and Controlled Investments [Member]2024-12-310001372807bcic:MarchThirtyOneTwoThousandTwentySixMemberbcic:TwoThousandAndTwentySixNotesMember2026-03-310001372807us-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberbcic:MeasurementInputTimeToExitMemberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Roscoe Investors, LLC - Class A Health Care Equipment & Supplies2026-03-310001372807Non-controlled affiliated investments JMP Credit Advisors CLO V LTD Type of Investment Collateralized Loan Obligations Industry Classification CLO Fund Securities2025-12-310001372807Investments in Affiliate Portfolio Companies Preferred Stock and Units Princeton Medspa Partners, LLC Diversified Consumer Services Interest Rate 12.50% PIK2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt PMA Parent Holdings LLC Capital Markets Interest Rate 8.42% Reference Rate and Spread SOFR + 4.75% Floor 0.75% Maturity 01/31/312025-12-310001372807Non-controlled affiliated investments MMI Holdings, LLC Type of Investment Common Stock and Membership Units Industry Classification Health Care Providers & Services2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Subordinated Debt Lucky Bucks Holdings LLC Hotels, Restaurants & Leisure Maturity 05/29/282025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units ATP Oil & Gas Corporation Oil, Gas & Consumable Fuels2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Tactical Air Support, Inc. Aerospace & Defense Interest Rate 11.52% Reference Rate and Spread SOFR + 7.50% Floor 1.00% Maturity 12/22/282025-12-310001372807bcic:EpilogPartnersSpvIiiLlcCareConnectorsMedicalGroupMemberus-gaap:EquitySecuritiesMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Workplace Holdings LLC (Pomeroy Technologies, LLC) Software2026-03-310001372807Non-controlled affiliated investments Northeast Metal Works LLC - Class O Preferred Type of Investment Preferred Stock and Units Industry Classification Metals & Mining2025-01-012025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:AccountingStandardUpdate201104Memberus-gaap:DerivativeMember2026-03-310001372807us-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:MeasurementInputSharePriceMemberus-gaap:EquitySecuritiesMember2025-12-310001372807us-gaap:CollateralizedLoanObligationsMember2026-03-310001372807bcic:SeriesBGreatLakesFundingIILlcMember2025-12-310001372807bcic:JointVenturesMemberus-gaap:InvestmentAffiliatedIssuerMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units HDC/HW Holdings, LLC Software2025-12-310001372807bcic:TwoThousandAndTwentyEightNotesMember2025-12-310001372807bcic:FourPointEightSevenFiveNotesDue2026Member2025-01-012025-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt PMA Parent Holdings LLC (Revolver) Capital Markets Reference Rate and Spread SOFR + 4.75% Floor 0.75% Maturity 01/31/312026-03-310001372807bcic:TwoThousandTwentySixStockRepurchaseProgramMember2026-03-042026-03-040001372807bcic:GlprfLlcMember2022-04-292022-04-290001372807bcic:AssetManagementCompanyMember2025-12-310001372807Investments in Affiliate Portfolio Companies Common Stock and Membership Units Sierra Hamilton Holdings Corporation Energy Equipment & Services2025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMembersrt:MinimumMemberbcic:MeasurementInputEBITDAMemberus-gaap:EquitySecuritiesMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Advantage Capital Holdings LLC - Class A Units Financial Services2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Dodge Data & Analytics LLC Professional Services Interest Rate 10.05% Reference Rate and Spread SOFR + 6.25% Floor 0.50% Maturity 01/31/292026-03-310001372807Non-controlled affiliated investments Princeton Medspa Partners, LLC Type of Investment Preferred Stock and Units Industry Classification Diversified Consumer Services2025-01-012025-12-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberbcic:FirstLienDebtMember2026-03-310001372807bcic:JointVenturesMember2025-01-012025-03-310001372807us-gaap:SubordinatedDebtMemberbcic:AccountingStandardUpdate201104Member2025-12-310001372807us-gaap:RevolvingCreditFacilityMember2024-07-232024-07-230001372807bcic:JmpCreditAdvisorsCloVLtdMemberus-gaap:CollateralizedLoanObligationsMemberbcic:CloFundSecuritiesMember2025-12-310001372807bcic:FirstLienDebtMember2025-01-012025-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Epic Staffing Group Professional Services Interest Rate 9.73% Reference Rate and Spread SOFR + 6.00% Floor 0.50% Maturity 06/28/292026-03-310001372807bcic:TradingCompaniesAndDistributorsMember2025-12-310001372807US-GAAP Investment, Identifier [Axis] > Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt BetaNXT, Inc. Financial Services Interest Rate 9.42% Reference Rate and Spread SOFR + 5.75% Maturity 07/01/292025-12-310001372807bcic:MeasurementInputRequiredRateOfReturnMemberus-gaap:FairValueInputsLevel3Memberus-gaap:SubordinatedDebtMembersrt:MinimumMemberus-gaap:IncomeApproachValuationTechniqueMember2025-12-310001372807Non-controlled affiliated investments Series B-Great Lakes Funding II LLC Type of Investment Joint Ventures Industry Classification Joint Venture2026-01-012026-03-310001372807bcic:DecemberThirtyOneTwoThousandTwentyFiveMemberbcic:TwoThousandAndTwentySixNotesMember2025-12-310001372807bcic:PurchaseAgreementMemberbcic:TwoThousandAndThirtyTwoConvertibleNotesMember2025-07-150001372807bcic:SpecialtyRetailMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Second Lien/Senior Secured Debt BLST Operating Company, LLC Broadline Retail Maturity 05/06/262026-03-310001372807Non Controlled Affiliated Investments [Member]2025-01-012025-12-310001372807Non-controlled affiliated investments HR Pharmaceuticals, LLC Type of Investment Preferred Stock and Units Industry Classification Health Care Equipment & Supplies2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberbcic:MeasurementInputLiquidationPreferenceOnMultipleOfInvestedCapitalMemberus-gaap:EquitySecuritiesMember2026-03-310001372807bcic:OneMTermSOFRMemberbcic:KeyBankCreditFacilityMember2025-07-152025-07-150001372807bcic:AccountingStandardUpdate201104Memberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2025-12-310001372807us-gaap:DerivativeMember2026-01-012026-03-310001372807bcic:FirstLienDebtMember2025-12-310001372807bcic:LeisureProductsMember2026-03-310001372807bcic:WirelessTelecommunicationServicesMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Second Lien/Senior Secured Debt Florida Food Products, LLC Second Lien, Term Loan A Food Products Interest Rate 9.05% Reference Rate and Spread SOFR + 5.00%, 2.00% PIK Floor 1.00% Maturity 10/15/302025-12-310001372807us-gaap:AdditionalPaidInCapitalMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units LB NewHoldCo LLC Hotels, Restaurants & Leisure2025-12-310001372807Investments in Affiliate Portfolio Companies Preferred Stock and Units Northeast Metal Works LLC - Preferred Metals & Mining2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:MeasurementInputRequiredRateOfReturnMemberus-gaap:SubordinatedDebtMembersrt:MinimumMemberus-gaap:IncomeApproachValuationTechniqueMember2026-03-310001372807bcic:MarchThirtyOneTwoThousandTwentySixMemberbcic:TwoThousandAndTwentyNineNotesMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMembersrt:MinimumMemberbcic:FirstLienDebtMemberbcic:MeasurementInputRecoveryPercentageMember2025-12-310001372807srt:MinimumMemberbcic:ControlledAffiliatedInvestmentsMember2026-03-310001372807Non-controlled affiliated investments Riddell, Inc. Type of Investment First Lien/Senior Secured Debt Industry Classification Leisure Products2024-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Project Leopard Holdings, Inc. Software Interest Rate 9.19% Reference Rate and Spread SOFR + 5.25% Floor 0.50% Maturity 07/20/292025-12-310001372807bcic:DerivativesMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001372807bcic:FirstLienDebtMember2025-03-310001372807Put option, Epilog Partners LP (Care Connectors Medical Group)2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:BookValueMultipleMemberbcic:EnterpriseValueValuationTechniqueMembersrt:MaximumMemberus-gaap:EquitySecuritiesMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Preferred Stock and Units Prosper Marketplace Household Products2026-03-310001372807bcic:HcapAcquisitionMember2021-06-092021-06-090001372807bcic:HealthCareEquipmentAndSuppliesMember2026-03-310001372807Non-controlled affiliated investments GreenPark Infrastructure, LLC - Series A Type of Investment Preferred Stock and Units Industry Classification Commercial Services & Supplies2026-01-012026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Subordinated Debt Eastport Holdings, LLC Commercial Services & Supplies Interest Rate 12.43% Reference Rate and Spread SOFR + 8.50% Floor 1.00% Maturity 09/29/272026-03-310001372807Non-controlled affiliated investments Burgaflex Holdings, LLC Type of Investment Common Stock and Membership Units Industry Classification Automobile Components One2025-12-310001372807Debt Securitiessrt:MaximumMember2025-12-310001372807us-gaap:InvestmentAffiliatedIssuerMember2026-03-310001372807bcic:FourPointEightSevenFiveNotesDue2026Memberbcic:FiscalTwoThousandTwentyOneMember2026-03-310001372807bcic:FiscalTwoThousandFifteenMemberbcic:ConvertibleNotesDueMarchFifteenTwoThousandSixteenMember2026-03-310001372807bcic:Freedom3AndGreatLakesJointVentureMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Red Range Intermediate Inc. Industrial Conglomerates Interest Rate 11.99% Reference Rate and Spread SOFR + 8.00% Floor 1.00% Maturity 10/01/292025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:MeasurementInputWeightedAverageCostOfCapitalMemberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Florida Food Products, LLC First Lien, Term Loan A Food Products Interest Rate 9.43% Reference Rate and Spread SOFR + 5.50% Floor 2.00% Maturity 10/15/302025-12-310001372807us-gaap:PutOptionMember2026-03-310001372807bcic:VbcSpineOpcoLlcDxtxPainAndSpineLlcOneMemberbcic:FirstLienDebtMember2026-03-310001372807us-gaap:DerivativeMember2025-03-310001372807Non-controlled affiliated investments GreenPark Infrastructure, LLC - Series A Type of Investment Preferred Stock and Units Industry Classification Commercial Services & Supplies2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units BLST Operating Company, LLC - Class A Broadline Retail2025-12-310001372807Put option, Advantage Capital Holdings LLC2025-12-310001372807bcic:FourPointEightSevenFiveNotesDue2026Member2021-06-230001372807us-gaap:CollateralizedLoanObligationsMember2024-12-310001372807Non-controlled affiliated investments EBSC Holdings LLC (Riddell, Inc.) Type of Investment Preferred Stock and Units Industry Classification Leisure Products2026-01-012026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:MarchThirtyOneTwoThousandTwentySixMemberus-gaap:RevolvingCreditFacilityMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Dentive, LLC (Revolver) Health Care Providers & Services Interest Rate 10.92% Reference Rate and Spread SOFR + 7.25%, 4.25% PIK Floor 0.75% Maturity 12/22/282025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:AccountingStandardUpdate201104Memberbcic:SecondLienDebtMember2026-03-310001372807Non-controlled affiliated investments Northeast Metal Works LLC Type of Investment Second Lien/Senior Secured Debt Industry Classification Metals & Mining2025-01-012025-12-310001372807bcic:JointVenturesMember2026-03-310001372807bcic:MeasurementInputRequiredRateOfReturnMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberus-gaap:IncomeApproachValuationTechniqueMemberbcic:SecondLienDebtMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Netwrix Corporation Software Interest Rate 8.17% Reference Rate and Spread SOFR + 4.50% Floor 0.75% Maturity 06/11/292026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Preferred Stock and Units BMP Slappey Holdco, LLC Diversified Telecommunication Services2025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:JointVenturesMemberus-gaap:IncomeApproachValuationTechniqueMember2025-12-310001372807bcic:AccountingStandardUpdate201104Member2025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:AccountingStandardUpdate201104Memberus-gaap:EquitySecuritiesMember2026-03-310001372807Non-controlled affiliated investments American Clinical Solutions, LLC - Class A Type of Investment Preferred Stock and Units Industry Classification Health Care Providers & Services2026-03-310001372807bcic:DecemberThirtyOneTwoThousandTwentyFiveMember2025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMembersrt:WeightedAverageMemberus-gaap:CollateralizedLoanObligationsMemberbcic:MeasurementInputRecoveryPercentageMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Taoglas Group Holdings Limited (Revolver) Electronic Equipment, Instruments & Components Interest Rate 10.93% Reference Rate and Spread SOFR + 7.25% Floor 1.00% Maturity 02/28/292026-03-310001372807Investments in Affiliate Portfolio Companies Joint Ventures Series B-Great Lakes Funding II LLC Joint Venture2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Keg Logistics LLC (Revolver) Diversified Consumer Services Interest Rate 10.75% Reference Rate and Spread SOFR + 6.75% Floor 1.00% Maturity 10/06/262025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMembersrt:MinimumMemberbcic:MeasurementInputAverageEbitdaMultipleMemberus-gaap:EquitySecuritiesMember2025-12-310001372807bcic:DerivativesMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001372807bcic:TwoThousandAndTwentyFiveStockRepurchaseProgramMember2025-03-120001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units ATP Oil & Gas Corporation Oil, Gas & Consumable Fuels2025-12-310001372807bcic:SecondLienDebtMember2024-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Second Lien/Senior Secured Debt Ivanti Software, Inc. Software Interest Rate 11.40% Reference Rate and Spread SOFR + 7.25% Floor 0.50% Maturity 06/01/292025-12-310001372807bcic:FirstLienDebtMemberbcic:MetrcIncRevolverMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien /Senior Secured Debt Neptune Bidco US Inc. (Term Loan A) Interactive Media & Services Interest Rate 8.76% Reference Rate and Spread SOFR + 4.75% Floor 0.50% Maturity 10/11/282025-12-3100013728072026-05-040001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt PhyNet Dermatology LLC Health Care Providers & Services Interest Rate 10.17% Reference Rate and Spread SOFR + 6.50% Floor 1.00% Maturity 10/20/292026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Money Transfer Acquisition Inc. Financial Services Interest Rate 12.02% Reference Rate and Spread SOFR + 8.25% Floor 1.00% Maturity 12/14/272026-03-310001372807bcic:SecondLienOrSeniorSecuredDebtMemberus-gaap:InvestmentAffiliatedIssuerMember2026-03-310001372807bcic:WirelessTelecommunicationServicesMember2026-03-310001372807bcic:MeasurementInputRequiredRateOfReturnMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2026-03-310001372807bcic:TacticalAirSupportIncMemberbcic:FirstLienDebtMember2026-03-310001372807bcic:EnergyEquipmentAndServicesMember2025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberus-gaap:CollateralizedLoanObligationsMember2026-03-310001372807Investments in Controlled Affiliated Portfolio Companies Asset Manager Affiliates Asset Management Company Asset Management Company2026-03-310001372807Non-controlled affiliated investments PMP OPCO, LLC (Princeton Medspa Partners, LLC) (Revolver) Type of Investment First Lien/Senior Secured Debt Industry Classification Diversified Consumer Service2025-12-310001372807bcic:SparkBuyerLLCMemberbcic:FirstLienDebtMember2026-03-310001372807bcic:AccountingStandardUpdate201104Memberbcic:SecondLienDebtMember2026-03-310001372807Investments in Affiliate Portfolio Companies Second Lien/Senior Secured Debt Northeast Metal Works LLC Metals & Mining Interest Rate 8.00% Maturity 04/05/282025-12-310001372807Non-controlled affiliated investments Northeast Metal Works LLC Type of Investment Second Lien/Senior Secured Debt Industry Classification Metals & Mining2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Centric Brands, L.P. Textiles, Apparel & Luxury Goods2026-03-310001372807bcic:MarchThirtyOneTwoThousandTwentySixMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Second Lien/Senior Secured Debt Project Leopard Holdings, Inc. Software Interest Rate 11.59% Reference Rate and Spread SOFR + 7.75% Floor 0.50% Maturity 07/20/302025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Pomeroy Technologies, LLC (Super Senior A) Software Interest Rate 6.00% PIK Maturity 11/30/272025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Bradshaw International Parent Corp. Specialty Retail Interest Rate 9.52% Reference Rate and Spread SOFR + 5.75% Floor 1.00% Maturity 10/21/272026-03-310001372807us-gaap:CollateralizedMortgageObligationsMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001372807bcic:HouseholdDurablesMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberus-gaap:SubordinatedDebtMember2026-03-310001372807Non-controlled affiliated investments BMP Slappey Holdco, LLC Type of Investment Preferred Stock and Units Industry Classification Diversified Telecommunication Services2024-12-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:CollateralizedLoanObligationsMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:IncomeApproachValuationTechniqueMembersrt:MaximumMember2026-03-310001372807bcic:EpilogPartnersSpvIiiLlcCareConnectorsMedicalGroupMemberus-gaap:EquitySecuritiesMember2025-12-310001372807Non-controlled affiliated investments Phoenix Aviation Capital, LLC Type of Investment Preferred Stock and Units Industry Classification Aerospace & Defense2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberbcic:FirstLienDebtMemberus-gaap:MeasurementInputRevenueMultipleMembersrt:MaximumMember2025-12-310001372807us-gaap:CommonStockMemberbcic:GarsAcquisitionMember2020-10-280001372807us-gaap:InvestmentAffiliatedIssuerControlledMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien /Senior Secured Debt Netwrix Corporation Software Interest Rate 8.32% Reference Rate and Spread SOFR + 4.50% Floor 0.75% Maturity 06/09/292025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt STG Distribution, LLC (STG Logistics) (Second Out) Transportation Infrastructure Maturity 10/03/292026-03-310001372807Investments in Affiliate Portfolio Companies Collateralized Loan Obligations JMP Credit Advisors CLO IV LTD CLO Fund Securities Maturity 07/17/292025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Second Lien/Senior Secured Debt Confluence Technologies, Inc. Software Interest Rate 10.50% Reference Rate and Spread SOFR + 6.50%, 6.50% PIK Floor 0.50% Maturity 07/30/292025-12-310001372807bcic:SevenPointSevenFiveNotesDue2030Member2025-01-012025-03-3100013728072026-03-042026-03-040001372807Non-controlled affiliated investments Sierra Hamilton Holdings Corporation Type of Investment Common Stock and Membership Units Industry Classification Energy Equipment & Services2025-01-012025-12-310001372807bcic:CommonStockAndMembershipUnitsMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001372807srt:MinimumMemberbcic:NonControlledAffiliatedInvestmentsMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:CollateralizedLoanObligationsMemberbcic:AccountingStandardUpdate201104Member2025-12-310001372807bcic:SoftwareMember2026-03-310001372807bcic:DecemberThirtyOneTwoThousandTwentyFiveMemberbcic:TwoThousandAndThirtyTwoConvertibleNotesMember2025-12-310001372807us-gaap:RetainedEarningsMember2024-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMembersrt:MaximumMemberbcic:MeasurementInputEBITDAMemberus-gaap:EquitySecuritiesMember2025-12-310001372807Call option, HDNet Holdco LLC2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Preferred Stock and Units AAPC Holdings, LLC Health Care Providers & Services2026-03-310001372807bcic:MeasurementInputRequiredRateOfReturnMemberus-gaap:FairValueInputsLevel3Memberus-gaap:SubordinatedDebtMemberus-gaap:IncomeApproachValuationTechniqueMembersrt:MaximumMember2025-12-310001372807us-gaap:InvestmentAffiliatedIssuerControlledMember2026-01-012026-03-310001372807US-GAAP Investment, Identifier [Axis] > Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Ancile Solutions, Inc. Software Interest Rate 13.97% Reference Rate and Spread SOFR + 10.00% Floor 1.00% Maturity 06/11/262025-12-310001372807bcic:TwoThousandAndTwentyNineNotesMember2026-03-310001372807Investments in Affiliate Portfolio Companies First Lien/Senior Secured Debt Datalink, LLC Health Care Technology Interest Rate 10.00%PIK Maturity 02/05/332026-03-310001372807bcic:MarchThirtyOneTwoThousandTwentySixMemberbcic:TwoThousandAndTwentySixNotesMember2026-03-310001372807us-gaap:CollateralizedLoanObligationsMemberbcic:AccountingStandardUpdate201104Member2026-03-310001372807bcic:O2026M9DividendsMemberus-gaap:SubsequentEventMember2026-05-072026-05-070001372807us-gaap:FairValueInputsLevel3Memberbcic:MarchThirtyOneTwoThousandTwentySixMemberbcic:TwoThousandAndThirtyTwoConvertibleNotesMember2026-03-310001372807bcic:SevenPointThreeSevenFivePercentNotesDueTwoThousandNineteenMember2017-01-012017-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Collateralized Loan Obligations Catamaran CLO 2014-1 Ltd. CLO Fund Securities Maturity 04/20/302025-12-310001372807Non Controlled Affiliated and Controlled Investments [Member]2025-01-012025-12-310001372807Non-controlled affiliated investments Burgaflex Holdings, LLC Type of Investment Common Stock and Membership Units Industry Classification Automobile Components2025-01-012025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units BLST Operating Company, LLC - Class A Broadline Retail2026-03-310001372807Investments in Affiliate Portfolio Companies First Lien/Senior Secured Debt MMI Holdings, LLC Health Care Providers & Services Maturity 12/31/252025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMembersrt:WeightedAverageMemberbcic:MeasurementInputEBITDAMemberus-gaap:EquitySecuritiesMember2026-03-310001372807bcic:AdvisoryAgreementMember2025-01-012025-03-310001372807bcic:TwoThousandAndThirtyNotesMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt STG Distribution, LLC (STG Logistics) (Third Out) Transportation Infrastructure Maturity 10/03/292026-03-310001372807Non-controlled affiliated investments GreenPark Infrastructure, LLC - Series M-1 Type of Investment Common Stock and Membership Units Industry Classification Commercial Services & Supplies2026-01-012026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Second Lien/Senior Secured Debt Ivanti Software, Inc. Software Interest Rate 11.17% Reference Rate and Spread SOFR + 7.25% Floor 0.50% Maturity 06/01/292026-03-310001372807Investments in Affiliate Portfolio Companies Preferred Stock and Units Westshore RAM, LLC - Class A Financial Services2025-12-310001372807bcic:FiscalTwoThousandTwentyFiveMemberbcic:TwoThousandAndThirtyNotesMember2026-03-310001372807bcic:TransportationInfrastructureMember2026-03-310001372807bcic:AutomobileComponentsMember2025-12-310001372807bcic:FirstLienDebtMemberbcic:MoraeGlobalCorporationOneMember2025-12-310001372807Investments in Affiliate Portfolio Companies First Lien/Senior Secured Debt HR Pharmaceuticals, LLC (Revolver) Health Care Equipment & Supplies Interest Rate 9.70% Reference Rate and Spread SOFR + 6.00% Floor 2.00% Maturity 01/29/312026-03-310001372807us-gaap:CollateralizedLoanObligationsMember2025-03-310001372807us-gaap:UnsecuredDebtMemberbcic:FourPointEightSevenFiveNotesDue2026Member2026-01-012026-03-310001372807bcic:MetalsMiningMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Global Integrated Flooring Systems Inc. (Revolver) Household Products Interest Rate 12.67% Reference Rate and Spread SOFR + 9.00%, 6.00% PIK Floor 2.00% Maturity 12/31/262026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Anthem Sports & Entertainment Inc. - Class A Warrant Media2025-12-310001372807bcic:ChairOfCompensationCommitteeMember2026-01-012026-03-310001372807bcic:LRFCAcquisitionMemberbcic:O2025Q2DividendsMember2025-05-062025-05-060001372807bcic:ChairOfAuditCommitteeMember2026-01-012026-03-310001372807us-gaap:CommonStockMember2026-01-012026-03-310001372807us-gaap:UnsecuredDebtMemberus-gaap:PrivatePlacementMemberbcic:FourPointEightSevenFiveNotesDue2026Member2021-04-302021-04-300001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberbcic:FirstLienDebtMembersrt:MaximumMemberbcic:MeasurementInputEBITDAMember2025-12-310001372807bcic:KeyBankCreditFacilityMember2025-07-150001372807us-gaap:FairValueInputsLevel3Memberus-gaap:CollateralizedLoanObligationsMemberus-gaap:IncomeApproachValuationTechniqueMemberbcic:MeasurementInputRecoveryRateMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Workplace Holdings LLC (Pomeroy Technologies, LLC) Software2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt BetaNXT, Inc. Financial Services Interest Rate 9.45% Reference Rate and Spread SOFR + 5.75% Maturity 07/02/292026-03-310001372807Non-controlled affiliated investments Northeast Metal Works LLC – Preferred Type of Investment Preferred Stock and Units Industry Classification Metals & Mining2026-03-310001372807bcic:AssetManagerAffiliatesMember2025-12-310001372807us-gaap:RevolvingCreditFacilityMember2025-01-012025-03-310001372807bcic:DiversifiedConsumerServicesMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt RN Enterprises, LLC Health Care Technology Interest Rate 9.03% Reference Rate and Spread SOFR + 5.25% Floor 0.75% Maturity 10/17/312025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units AAPC Holdings, LLC Health Care Providers & Services2026-03-310001372807bcic:FirstLienDebtMember2026-03-310001372807bcic:FirstLienDebtMemberbcic:MetrcIncRevolverMember2026-03-310001372807us-gaap:PrivatePlacementMemberbcic:FourPointEightSevenFiveNotesDue2026Member2021-04-300001372807bcic:SpecialtyRetailMember2025-12-310001372807bcic:OilGasAndConsumableFuelsMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberus-gaap:SubordinatedDebtMemberbcic:MeasurementInputRecoveryPercentageMember2025-12-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPriceVolatilityMemberus-gaap:IncomeApproachValuationTechniqueMembersrt:MaximumMemberus-gaap:EquitySecuritiesMember2025-12-310001372807bcic:AccountingStandardUpdate201104Member2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien /Senior Secured Debt Netwrix Corporation (Revolver) Software Reference Rate and Spread SOFR + 4.50% Floor 0.75% Maturity 06/11/292026-03-310001372807bcic:MachineryMember2026-03-310001372807us-gaap:FairValueInputsLevel3Member2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Radius Aerospace, Inc. Aerospace & Defense Interest Rate 10.07% Reference Rate and Spread SOFR + 6.25%, 0.25% PIK Floor 1.00% Maturity 03/29/272025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMembersrt:WeightedAverageMemberbcic:MeasurementInputEBITDAMemberus-gaap:EquitySecuritiesMember2025-12-310001372807bcic:GlprfLlcMember2022-04-282022-04-280001372807Non-controlled affiliated investments JMP Credit Advisors CLO IV LTD Type of Investment Collateralized Loan Obligations Industry Classification CLO Fund Securities2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:MarchThirtyOneTwoThousandTwentySixMemberbcic:TwoThousandAndTwentySixNotesMember2026-03-310001372807us-gaap:UnsecuredDebtMemberus-gaap:PrivatePlacementMemberbcic:FourPointEightSevenFiveNotesDue2026Member2021-06-230001372807bcic:HotelsRestaurantsAndLeisureMember2026-03-310001372807Non-controlled affiliated investments HR Pharmaceuticals, LLC Type of Investment First Lien Debt Industry Classification Health Care Equipment & Supplies2026-01-012026-03-310001372807us-gaap:UnsecuredDebtMemberbcic:FourPointEightSevenFiveNotesDue2026Memberus-gaap:PrivatePlacementMember2021-04-300001372807us-gaap:FairValueInputsLevel3Memberbcic:MeasurementInputRequiredRateOfReturnMemberus-gaap:IncomeApproachValuationTechniqueMembersrt:MaximumMemberbcic:SecondLienDebtMember2025-12-310001372807bcic:LRFCAcquisitionMemberbcic:TwoThousandAndThirtyTwoConvertibleNotesMember2022-04-012022-04-010001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Spark Buyer, LLC Electrical Equipment Interest Rate 9.13% Reference Rate and Spread SOFR + 5.25% Floor 0.75% Maturity 10/15/312025-12-310001372807us-gaap:CashDistributionMemberus-gaap:SubsequentEventMemberbcic:O2026M5DividendsMember2026-05-072026-05-070001372807us-gaap:SubsequentEventMemberbcic:O2026M4DividendsMember2026-04-302026-04-300001372807bcic:KCAPFundingILLCRevolvingCreditFacilityMemberbcic:FiscalTwoThousandEighteenMember2026-03-310001372807bcic:SecondLienDebtMember2025-01-012025-03-310001372807bcic:SixPointOneTwoFiveNotesDueTwoThousandTwentyTwoMemberbcic:FiscalTwoThousandNineteenMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:DerivativeMember2025-12-310001372807bcic:AccountingStandardUpdate201104Memberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2026-03-310001372807us-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:MeasurementInputRevenueMultipleMemberus-gaap:IncomeApproachValuationTechniqueMember2026-03-310001372807Non-controlled affiliated investments Riddell, Inc. Type of Investment First Lien/Senior Secured Debt Industry Classification Leisure Products2026-01-012026-03-310001372807Debt Securitiessrt:MaximumMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units AAPC Holdings, LLC Health Care Providers & Services2025-12-310001372807bcic:FiscalTwoThousandSixteenMemberbcic:SevenPointThreeSevenFiveNotesDueTwoThousandNineteenMember2026-03-310001372807US-GAAP Investment, Identifier [Axis] > Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Advantage Capital Holdings LLC Financial Services Interest Rate 13.00% Reference Rate and Spread 13.00%, 5.00% PIK Maturity 04/14/272025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt BetaNXT, Inc. (Revolver) Financial Services Reference Rate and Spread SOFR + 5.75% Maturity 04/02/292026-03-310001372807Investments in Affiliate Portfolio Companies Preferred Stock and Units MMI Holdings, LLC Health Care Providers & Services2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt PVHC Holding Corp Containers & Packaging Interest Rate 7.82% Reference Rate and Spread SOFR + 4.00% Floor 2.50% Maturity 02/17/272025-12-310001372807Non-controlled affiliated investments MMI Holdings, LLC Type of Investment Second Lien/Senior Secured Debt Industry Classification Health Care Equipment & Services2025-01-012025-12-310001372807bcic:BookValueMultipleMemberus-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberus-gaap:DerivativeMember2025-12-310001372807bcic:RNEnterprisesLLCMemberbcic:FirstLienDebtMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Synamedia Americas Holdings, Inc. Interactive Media & Services Interest Rate 9.92% Reference Rate and Spread SOFR + 6.25% Floor 1.00% Maturity 12/05/282025-12-310001372807bcic:BroadlineRetailMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Collateralized Loan Obligations Dryden 30 Senior Loan Fund CLO Fund Securities Maturity 11/01/282026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt PMA Parent Holdings LLC Capital Markets Interest Rate 8.45% Reference Rate and Spread SOFR + 4.75% Floor 0.75% Maturity 01/31/312026-03-310001372807Non-controlled affiliated investments Datalink, LLC (Revolver) Type of Investment First Lien Debt Industry Classification Health Care Technology2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:JointVenturesMemberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:MeasurementInputPrepaymentRateMember2025-12-310001372807US-GAAP Investment, Identifier [Axis] > Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Centric Brands Inc. (Term Loan A2) Textiles, Apparel & Luxury Goods Interest Rate 12.89% Reference Rate and Spread SOFR + 9.00%, 11.89% PIK Floor 1.00% Maturity 02/06/312025-12-310001372807bcic:FourPointEightSevenFiveNotesDue2026Member2025-10-140001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Shepherd Parent Holdings, LLC (Revolver) Health Care Providers & Services Reference Rate and Spread SOFR + 7.25% Floor 1.00% Maturity 07/10/302026-03-310001372807us-gaap:PutOptionMember2025-12-310001372807bcic:AdministrationAgreementMember2026-01-012026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Advantage Capital Holdings LLC - Class A Units Financial Services2025-12-310001372807bcic:KeyBankCreditFacilityMember2025-01-012025-03-310001372807Non-controlled affiliated investments Datalink, LLC (Revolver) Type of Investment First Lien Debt Industry Classification Health Care Technology2026-01-012026-03-310001372807bcic:MiddleWestSpiritsLLCMemberbcic:FirstLienDebtMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Sundance Holdings Group, LLC Specialty Retail2025-12-310001372807us-gaap:CommonStockMemberbcic:LRFCAcquisitionMember2025-07-150001372807bcic:HealthCareProvidersAndServicesMember2026-03-310001372807bcic:CatamaranClo20141LtdMemberus-gaap:CollateralizedLoanObligationsMemberbcic:CloFundSecuritiesMember2025-12-310001372807Investments in Affiliate Portfolio Companies Preferred Stock and Units EBSC Holdings LLC (Riddell, Inc.) Leisure Products Interest Rate 10.00% PIK2026-03-310001372807Non-controlled affiliated investments Northeast Metal Works LLC - Class O Preferred Type of Investment Preferred Stock and Units Industry Classification Metals & Mining2026-03-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPriceVolatilityMemberbcic:FirstLienDebtMemberus-gaap:IncomeApproachValuationTechniqueMember2025-12-310001372807bcic:SeriesBGreatLakesFundingIILlcMemberbcic:JointVenturesMember2026-03-310001372807Non-controlled affiliated investments American Clinical Solutions, LLC Type of Investment First Lien/Senior Secured Debt Industry Classification Health Care Providers & Services2026-01-012026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:MeasurementInputTimeToExitMembersrt:MinimumMemberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:MeasurementInputRequiredRateOfReturnMembersrt:WeightedAverageMemberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2025-12-310001372807bcic:FirstLienDebtMemberbcic:AccountingStandardUpdate201104Member2025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:DecemberThirtyOneTwoThousandTwentyFiveMemberbcic:TwoThousandAndThirtyNotesMember2025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:AccountingStandardUpdate201104Memberus-gaap:DerivativeMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Fusion Connect, Inc. - Warrant Wireless Telecommunication Services2025-12-310001372807US-GAAP Investment, Identifier [Axis] > Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt AMCP Pet Holdings, Inc. (Revolver) Consumer Staples Distribution & Retail Interest Rate 11.00% Reference Rate and Spread SOFR + 7.00%, 3.00% PIK Floor 1.00% Maturity 01/04/282025-12-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberbcic:MeasurementInputOptionPurchasePriceMemberus-gaap:EquitySecuritiesMember2025-12-310001372807Investments in Affiliate Portfolio Companies Collateralized Loan Obligations JMP Credit Advisors CLO IV LTD CLO Fund Securities Maturity 07/17/292026-03-310001372807us-gaap:InvestmentAffiliatedIssuerControlledMemberbcic:AssetManagerAffiliatesMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:DecemberThirtyOneTwoThousandTwentyFiveMemberbcic:TwoThousandAndTwentyEightNotesMember2025-12-310001372807Non-controlled affiliated investments GreenPark Infrastructure, LLC - Series M-1 Type of Investment Common Stock and Membership Units Industry Classification Commercial Services & Supplies2025-12-310001372807Non-controlled affiliated investments JMP Credit Advisors CLO IV LTD Type of Investment Collateralized Loan Obligations Industry Classification CLO Fund Securities2025-12-310001372807bcic:JointVenturesMember2025-03-310001372807bcic:AdministrationAgreementMember2025-01-012025-03-310001372807Non-controlled affiliated investments HR Pharmaceuticals, LLC Type of Investment First Lien Debt Industry Classification Health Care Equipment & Supplies2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMembersrt:WeightedAverageMemberbcic:FirstLienDebtMemberbcic:MeasurementInputEBITDAMember2025-12-310001372807us-gaap:DerivativeMember2025-01-012025-03-310001372807bcic:BetaNxtIncMemberbcic:FirstLienDebtMember2025-12-310001372807srt:MaximumMember2026-01-012026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien /Senior Secured Debt Metric Inc. (Revolver) Software Reference Rate and Spread SOFR + 6.25% Floor 1.00% Maturity 09/30/312025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units LB NewHoldCo LLC Hotels, Restaurants & Leisure2026-03-310001372807bcic:TwoThousandAndTwentySixNotesMember2025-07-150001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Help Systems Holdings, Inc. Technology Hardware, Storage & Peripherals Interest Rate 9.76% Reference Rate and Spread SOFR + 6.00% Floor 2.00% Maturity 05/21/292026-03-310001372807bcic:TwoThousandTwentyThreeStockRepurchaseProgramMember2023-03-062023-03-060001372807us-gaap:CommonStockMember2025-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Shepherd Parent Holdings, LLC Health Care Providers & Services Interest Rate 11.18% Reference Rate and Spread SOFR + 7.25% Floor 1.00% Maturity 07/10/302025-12-310001372807Investments in Affiliate Portfolio Companies Collateralized Loan Obligations JMP Credit Advisors CLO V LTD CLO Fund Securities Maturity 07/17/302026-03-310001372807bcic:GarrisonCapitalEquityHoldingsIiLlcMember2025-01-012025-12-310001372807Total controlled investments2025-12-310001372807bcic:BuildingProductsMember2025-12-310001372807Non Controlled Affiliated Investments [Member]2026-01-012026-03-310001372807Investments in Affiliate Portfolio Companies Joint Ventures Series B-Great Lakes Funding II LLC Joint Venture2025-12-310001372807bcic:FourPointEightSevenFiveNotesDue2026Memberbcic:FiscalTwoThousandTwentyTwoMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Anthem Sports & Entertainment Inc. (2025 Delayed Draw Term Loan) Media Interest Rate 9.46% Reference Rate and Spread SOFR + 9.46%, 9.46% PIK Floor 1.00% Maturity 11/15/272026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:MeasurementInputRecentTransactionBidMemberus-gaap:MarketApproachValuationTechniqueMemberbcic:FirstLienDebtMember2025-12-310001372807US-GAAP Investment, Identifier [Axis] > Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Anthem Sports & Entertainment Inc. 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Aerospace & Defense Interest Rate 9.30% Reference Rate and Spread SOFR + 5.50% Floor 1.00% Maturity 04/01/272026-03-310001372807Non-controlled affiliated investments Northeast Metal Works LLC Type of Investment Second Lien/Senior Secured Debt Industry Classification Metals & Mining One2024-12-310001372807Total controlled investments2026-03-310001372807bcic:FirstLienDebtMemberbcic:CCMGBuyerLLCCareConnectorsMedicalGroupMember2026-03-310001372807Investments in Affiliate Portfolio Companies Preferred Stock and Units GreenPark Infrastructure, LLC - Series A Commercial Services & Supplies2025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:MeasurementInputRequiredRateOfReturnMembersrt:WeightedAverageMemberbcic:FirstLienDebtMemberus-gaap:IncomeApproachValuationTechniqueMember2026-03-310001372807us-gaap:SubordinatedDebtMember2024-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Resolute Investment Managers, Inc. Capital Markets Interest Rate 10.46% Reference Rate and Spread SOFR + 6.50% Floor 1.00% Maturity 10/30/282026-03-310001372807us-gaap:RevolvingCreditFacilityMemberbcic:FiscalTwoThousandTwentyTwoMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt TA/WEG Holdings, LLC (Revolver) Financial Services Reference Rate and Spread SOFR + 6.25% Floor 1.00% Maturity 10/02/282025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberbcic:MeasurementInputExpectedTakeoutPriceMembersrt:MaximumMemberus-gaap:EquitySecuritiesMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt RN Enterprises, LLC Health Care Technology Interest Rate 9.06% Reference Rate and Spread SOFR + 5.25% Floor 0.75% Maturity 10/17/312026-03-310001372807bcic:SixPointOneTwoFiveNotesDueTwoThousandTwentyTwoMemberbcic:FiscalTwoThousandSeventeenMember2026-03-310001372807bcic:TwoThousandAndThirtyTwoConvertibleNotesMember2025-10-070001372807us-gaap:CommonStockMemberbcic:LRFCAcquisitionMember2025-07-152025-07-150001372807Non-controlled affiliated investments Kleen-Tech Acquisition, LLC Type of Investment Common Stock and Membership Units Industry Classification Commercial Services & Supplies2025-01-012025-12-310001372807bcic:TwoThousandEighteenTwoSecuredNotesMemberbcic:FiscalTwoThousandTwentyTwoMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Ohene Holdings B.V. - Warrant IT Services2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Dodge Data & Analytics LLC (Second Out) Professional Services Interest Rate 8.75% Reference Rate and Spread SOFR + 4.75% Floor 0.50% Maturity 02/28/292025-12-310001372807us-gaap:RetainedEarningsMember2025-12-310001372807bcic:CommunicationsEquipmentMember2025-12-310001372807Non-controlled affiliated investments Burgaflex Holdings, LLC - Class A Type of Investment Common Stock and Membership Units Industry Classification Automobile Components2026-01-012026-03-310001372807us-gaap:PreferredStockMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001372807us-gaap:RetainedEarningsMember2026-03-310001372807us-gaap:EquitySecuritiesMember2026-01-012026-03-310001372807Total controlled investments2024-12-310001372807bcic:JointVentureMember2025-01-012025-03-310001372807bcic:InteractiveMediaAndServicesMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Preferred Stock and Units BMP Slappey Holdco, LLC Diversified Telecommunication Services2026-03-310001372807Investments in Affiliate Portfolio Companies Preferred Stock and Units Phoenix Aviation Capital, LLC Aerospace & Defense2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt STG Distribution, LLC (STG Logistics) (Third Out) Transportation Infrastructure Maturity 10/03/292025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:MeasurementInputRequiredRateOfReturnMembersrt:MinimumMemberus-gaap:IncomeApproachValuationTechniqueMemberbcic:SecondLienDebtMember2025-12-310001372807bcic:TwoThousandAndThirtyTwoConvertibleNotesMember2025-07-152025-07-150001372807Controlled investments ProAir, LLC Type of Investment Subordinated Debt Industry Classification Trading Companies & Distributors2025-01-012025-12-310001372807Non-controlled affiliated investments Phoenix Aviation Capital, LLC Type of Investment Preferred Stock and Units Industry Classification Aerospace & Defense2026-01-012026-03-310001372807us-gaap:CollateralizedLoanObligationsMemberbcic:JmpCreditAdvisorsCloIvLtdMemberbcic:CloFundSecuritiesMember2026-03-310001372807bcic:OneMonthSOFRMember2025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:TwoThousandAndThirtyNotesMemberbcic:MarchThirtyOneTwoThousandTwentySixMember2026-03-310001372807Investments in Affiliate Portfolio Companies Common Stock and Membership Units MMI Holdings, LLC Health Care Providers & Services2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:MeasurementInputRequiredRateOfReturnMemberbcic:FirstLienDebtMemberus-gaap:IncomeApproachValuationTechniqueMembersrt:MaximumMember2026-03-310001372807US-GAAP Investment, Identifier [Axis] > Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Bradshaw International Parent Corp. Specialty Retail Interest Rate 9.57% Reference Rate and Spread SOFR + 5.75% Floor 1.00% Maturity 10/21/272025-12-310001372807bcic:SevenPointFiveZeroNotesDue2029Member2026-01-012026-03-310001372807Non-controlled affiliated investments JMP Credit Advisors CLO IV LTD Type of Investment Collateralized Loan Obligations Industry Classification CLO Fund Securities2026-01-012026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt AMCP Pet Holdings, Inc. (Revolver) Consumer Staples Distribution & Retail Interest Rate 10.82% Reference Rate and Spread SOFR + 4.15%, 0.15% PIK Floor 1.00% Maturity 01/04/282026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Preferred Stock and Units Aperture Dodge 18 LLC Financial Services2026-03-310001372807Non-controlled affiliated investments American Clinical Solutions, LLC Type of Investment First Lien/Senior Secured Debt Industry Classification Health Care Providers & Services2025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMembersrt:MaximumMemberbcic:MeasurementInputEBITDAMemberus-gaap:EquitySecuritiesMember2026-03-310001372807bcic:TechnologyHardwareStorageAndPeripheralsMember2025-12-310001372807Non-controlled affiliated investments Northeast Metal Works LLC Type of Investment Second Lien/Senior Secured Debt Industry Classification Metals & Mining One2026-03-310001372807us-gaap:InvestmentUnaffiliatedIssuerMemberbcic:FirstLienSeniorSecuredDebtMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units BGPT Maverick, L.P. 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CLO Fund Securities Maturity 04/20/302026-03-310001372807bcic:PersonalCareProductsMember2026-03-310001372807bcic:LRFCAcquisitionMemberbcic:O2025Q3DividendsMember2025-07-142025-07-140001372807Investments in Affiliate Portfolio Companies First Lien/Senior Secured Debt PMP OPCO, LLC (Princeton Medspa Partners, LLC) (Revolver) Diversified Consumer Services Reference Rate and Spread SOFR + 8.50% Floor 2.00% Maturity 05/31/292025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Anthem Sports & Entertainment Inc. (Hollywood Suites Delayed Draw Term Loan) Media Interest Rate 9.46% Reference Rate and Spread SOFR + 9.46%, 9.46% PIK Floor 1.00% Maturity 11/15/272026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien /Senior Secured Debt Middle West Spirits, LLC Beverages Interest Rate 10.11% Reference Rate and Spread SOFR + 6.25% Floor 2.00% Maturity 04/23/302025-12-3100013728072026-03-310001372807Investments in Affiliate Portfolio Companies Second Lien/Senior Secured Debt Northeast Metal Works LLC Metals & Mining Interest Rate 8.00% Maturity 04/05/282026-03-310001372807bcic:FirstLienDebtMemberbcic:DatalinkLlcMember2026-03-310001372807bcic:TwoThousandAndTwentySixNotesMember2024-03-280001372807Non Controlled Affiliated Investments [Member]2025-12-310001372807Non-controlled affiliated investments Phoenix Aviation Capital, LLC Type of Investment Preferred Stock and Units Industry Classification Aerospace & Defense2025-01-012025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberus-gaap:EquitySecuritiesMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Anthem Sports & Entertainment Inc. - Warrant for CS Media2026-03-310001372807bcic:NetwrixCorporationOneMemberbcic:FirstLienDebtMember2025-12-310001372807bcic:FirstLienDebtMemberbcic:DentiveLLCMember2026-03-310001372807bcic:TransportationInfrastructureMember2025-12-310001372807Non-controlled affiliated investments American Clinical Solutions, LLC Type of Investment First Lien/Senior Secured Debt Industry Classification Health Care Providers & Services2026-03-310001372807bcic:PmpOpcoLlcPrincetonMedspaPartnersLlcOneMemberbcic:FirstLienDebtMember2025-12-310001372807bcic:IndustrialConglomeratesMember2026-03-310001372807bcic:SeriesBGreatLakesFundingIILlcMemberbcic:JointVenturesMember2025-12-310001372807Non Controlled Affiliated and Controlled Investments [Member]2026-03-310001372807bcic:FoodProductsMember2025-12-310001372807bcic:MetrcIncMemberbcic:FirstLienDebtMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Project Leopard Holdings, Inc. Software Interest Rate 9.02% Reference Rate and Spread SOFR + 5.25% Floor 0.50% Maturity 07/20/292026-03-310001372807bcic:FourPointEightSevenFiveNotesDue2026Member2025-11-132025-11-130001372807bcic:TwoThousandTwentySixNotesMember2026-01-012026-03-310001372807Put option, Princeton Medspa Partners, LLC2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Preferred Stock and Units BMP Slappey Investment II Diversified Telecommunication Services2026-03-310001372807us-gaap:UnsecuredDebtMember2026-01-012026-03-310001372807bcic:TwoThousandAndTwentyNineNotesMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt American Academy Holdings, LLC Health Care Providers & Services Interest Rate 13.53% Reference Rate and Spread SOFR + 9.75%, 5.25% PIK Floor 3.25% Maturity 06/30/272026-03-310001372807bcic:FirstLienDebtMemberbcic:CCMGBuyerLLCCareConnectorsMedicalGroupMember2025-12-310001372807US-GAAP Investment, Identifier [Axis] > Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Appfire Technologies, LLC Software Interest Rate 8.42% Reference Rate and Spread SOFR + 4.75% Floor 1.00% Maturity 03/09/282025-12-310001372807bcic:AerospaceAndDefenseMember2025-12-310001372807Non-controlled affiliated investments MMI Holdings, LLC Type of Investment Second Lien/Senior Secured Debt Industry Classification Health Care Providers & Services2026-03-310001372807us-gaap:PutOptionMember2025-01-012025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units HDC/HW Holdings, LLC Software2026-03-310001372807bcic:TwoThousandAndThirtyTwoConvertibleNotesMember2025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberbcic:FirstLienDebtMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt VBC Spine Opco LLC (DxTx Pain and Spine LLC) (Revolver) Health Care Providers & Services Interest Rate 10.46% Reference Rate and Spread SOFR + 6.50% Floor 2.00% Maturity 06/14/282025-12-310001372807Non-controlled affiliated investments Westshore Ram, LLC Type of Investment Preferred Stock and Units Industry Classification Financial Services2025-01-012025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberbcic:FirstLienDebtMemberus-gaap:MeasurementInputRevenueMultipleMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMembersrt:MinimumMemberbcic:FirstLienDebtMemberus-gaap:MeasurementInputRevenueMultipleMember2025-12-310001372807Non-controlled affiliated investments Datalink, LLC Type of Investment Common Stock and Membership Units Industry Classification Health Care Technology2026-03-310001372807bcic:TextilesApparelAndLuxuryGoodsMember2026-03-310001372807Non-controlled affiliated investments Burgaflex Holdings, LLC - Class B Type of Investment Common Stock and Membership Units Industry Classification Automobile Components One2025-12-310001372807us-gaap:CollateralizedMortgageObligationsMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Preferred Stock and Units AAPC Holdings, LLC Health Care Providers & Services Interest Rate 18.00% PIK2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Second Lien/Senior Secured Debt Florida Food Products, LLC Second Lien, Term Loan A Food Products Interest Rate 8.76% Reference Rate and Spread SOFR + 5.00%, 2.00% PIK Floor 1.00% Maturity 10/15/302026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberbcic:MeasurementInputExpectedTakeoutPriceMembersrt:MinimumMemberus-gaap:EquitySecuritiesMember2025-12-310001372807bcic:BookValueMultipleMemberus-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMembersrt:MinimumMemberus-gaap:EquitySecuritiesMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Global Integrated Flooring Systems Inc. (Revolver) Household Products Interest Rate 12.72% Reference Rate and Spread SOFR + 9.00%, 6.00% PIK Maturity 12/31/262025-12-310001372807us-gaap:SubsequentEventMemberbcic:O2026M7DividendsMember2026-05-072026-05-070001372807us-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberbcic:SecondLienDebtMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPriceVolatilityMembersrt:MinimumMemberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2025-12-3100013728072019-03-280001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt PhyNet Dermatology LLC Health Care Providers & Services Interest Rate 10.38% Reference Rate and Spread SOFR + 6.50% Floor 1.00% Maturity 10/20/292025-12-310001372807Non-controlled affiliated investments HR Pharmaceuticals, LLC (Revolver) Type of Investment First Lien Debt Industry Classification Health Care Equipment & Supplies2026-01-012026-03-310001372807bcic:FirstLienDebtMemberbcic:MoraeGlobalCorporationMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Global Integrated Flooring Systems Inc. Household Products Interest Rate 12.99% Reference Rate and Spread SOFR + 9.00%, 6.00% PIK Maturity 12/31/262025-12-310001372807bcic:TwoThousandTwentySixStockRepurchaseProgramMember2026-03-040001372807bcic:OneMonthSOFRMember2026-03-310001372807bcic:AccountingStandardUpdate201104Memberus-gaap:EquitySecuritiesMember2026-03-310001372807bcic:LRFCAcquisitionMemberbcic:TwoThousandAndTwentySixNotesMember2021-10-290001372807Non-controlled affiliated investments Burgaflex Holdings, LLC Type of Investment Common Stock and Membership Units Industry Classification Automobile Components One2025-01-012025-12-310001372807bcic:SevenPointSevenFiveNotesDue2030Member2025-10-100001372807bcic:SixPointOneTwoFiveNotesDue2022Member2019-01-012019-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberus-gaap:DerivativeMember2025-12-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2026-03-310001372807bcic:CommonStockAndMembershipUnitsMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001372807Non-controlled affiliated investments Series B-Great Lakes Funding II LLC Type of Investment Joint Ventures Industry Classification Joint Venture2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Shepherd Parent Holdings, LLC (Revolver) Health Care Providers & Services Reference Rate and Spread SOFR + 7.25% Floor 1.00% Maturity 07/10/302025-12-310001372807bcic:HealthCareTechnologyMember2026-03-310001372807Investments in Affiliate Portfolio Companies Common Stock and Membership Units Datalink, LLC Health Care Technology2026-03-310001372807us-gaap:RetainedEarningsMember2025-01-012025-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units DxTx Pain and Spine LLC Health Care Providers & Services2026-03-310001372807bcic:ThreeMonthSOFRMember2025-12-310001372807bcic:TwoThousandTwentyFourStockRepurchaseProgramMember2024-03-112024-03-110001372807us-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberbcic:SecondLienDebtMember2025-12-310001372807Non-controlled affiliated investments Phoenix Aviation Capital, LLC Type of Investment Preferred Stock and Units Industry Classification Aerospace & Defense2025-12-310001372807bcic:LRFCAcquisitionMember2025-07-150001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt STG Distribution, LLC (STG Logistics) (Second Out) Transportation Infrastructure Maturity 10/03/292025-12-310001372807bcic:GlprfLlcMember2022-04-280001372807Non-controlled affiliated investments Burgaflex Holdings, LLC - Class B Type of Investment Common Stock and Membership Units Industry Classification Automobile Components One2026-01-012026-03-310001372807us-gaap:SubordinatedDebtMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001372807us-gaap:RetainedEarningsMember2026-01-012026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseMarketValueValuationTechniqueMemberus-gaap:DerivativeMemberbcic:MeasurementInputEBITDAMember2026-03-310001372807us-gaap:SubordinatedDebtMember2026-01-012026-03-310001372807bcic:FirstLienDebtMemberbcic:ShepherdParentHoldingsLLCMember2026-03-310001372807us-gaap:FairValueInputsLevel3Membersrt:MinimumMemberus-gaap:MeasurementInputSharePriceMemberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2025-12-310001372807Put option, Advantage Capital Holdings LLC2026-03-310001372807us-gaap:RevolvingCreditFacilityMemberbcic:GlprfLlcMember2026-03-092026-03-090001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt VTX Intermediate Holdings, Inc. IT Services Interest Rate 11.93% Reference Rate and Spread SOFR + 8.00%, 1.00% PIK Floor 2.00% Maturity 12/12/292026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Keg Logistics LLC (Revolver) Diversified Consumer Services Interest Rate 10.58% Reference Rate and Spread SOFR + 6.75% Floor 1.00% Maturity 10/01/262026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Dentive, LLC Health Care Providers & Services Interest Rate 10.95% Reference Rate and Spread SOFR + 7.25%, 4.25% PIK Floor 0.75% Maturity 12/22/282026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Premier Imaging, LLC Health Care Equipment & Supplies Interest Rate 9.93% Reference Rate and Spread SOFR + 6.00% Floor 1.00% Maturity 03/31/262025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Centric Brands, L.P. Textiles, Apparel & Luxury Goods2025-12-310001372807bcic:RNEnterprisesLLCMemberbcic:FirstLienDebtMember2026-03-310001372807Non-controlled affiliated investments HR Pharmaceuticals, LLC Type of Investment Preferred Stock and Units Industry Classification Health Care Equipment & Supplies2026-01-012026-03-310001372807Non-controlled affiliated investments PMP OPCO, LLC (Princeton Medspa Partners, LLC) Type of Investment First Lien/Senior Secured Debt Industry Classification Diversified Consumer Services2026-01-012026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:DecemberThirtyOneTwoThousandTwentyFiveMemberbcic:TwoThousandAndThirtyTwoConvertibleNotesMember2025-12-310001372807bcic:TwoThousandTwentyThreeStockRepurchaseProgramMember2023-03-060001372807bcic:ConsumerStaplesDistributionAndRetailMember2026-03-310001372807Investments in Affiliate Portfolio Companies First Lien/Senior Secured Debt PMP OPCO, LLC (Princeton Medspa Partners, LLC) Diversified Consumer Services Interest Rate 12.17% Reference Rate and Spread SOFR + 8.50% Floor 2.00% Maturity 05/31/292026-03-310001372807Non-controlled affiliated investments Northeast Metal Works LLC Type of Investment Second Lien/Senior Secured Debt Industry Classification Metals & Mining One2026-01-012026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien /Senior Secured Debt Neptune Bidco US Inc. Interactive Media & Services Interest Rate 9.03% Reference Rate and Spread SOFR + 5.00% Floor 0.50% Maturity 04/11/292025-12-310001372807Investments in Affiliate Portfolio Companies Common Stock and Membership Units Princeton Medspa Partners, LLC - Warrant Diversified Consumer Services2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units South Street Securities Holdings, Inc – Warrant Financial Services2026-03-310001372807us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-01-012025-03-310001372807Investments in Affiliate Portfolio Companies Common Stock and Membership Units Burgaflex Holdings, LLC - Class B Automobile Components2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien /Senior Secured Debt Morae Global Corporation (Term Loan A) IT Services Interest Rate 12.01% Reference Rate and Spread SOFR + 8.00% Floor 2.00% Maturity 10/31/282025-12-310001372807bcic:MeasurementInputRequiredRateOfReturnMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMembersrt:MaximumMemberus-gaap:EquitySecuritiesMember2026-03-310001372807bcic:MarchThirtyOneTwoThousandTwentySixMemberbcic:TwoThousandAndThirtyTwoConvertibleNotesMember2026-03-310001372807bcic:KeyBankCreditFacilityMemberbcic:InterestRateThereafterMember2025-07-152025-07-150001372807Investments in Affiliate Portfolio Companies Second Lien/Senior Secured Debt Northeast Metal Works LLC Metals & Mining Interest Rate 8.00% Maturity 04/05/28 One2026-03-310001372807Investments in Affiliate Portfolio Companies Common Stock and Membership Units GreenPark Infrastructure, LLC - Series M-1 Commercial Services & Supplies2026-03-310001372807bcic:AerospaceAndDefenseMember2026-03-310001372807us-gaap:PutOptionMember2026-01-012026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Sundance Holdings Group, LLC Specialty Retail Maturity 06/30/252026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Project Castle, Inc. Machinery Interest Rate 9.36% Reference Rate and Spread SOFR + 5.50% Floor 0.50% Maturity 06/01/292025-12-310001372807Non-controlled affiliated investments Northeast Metal Works LLC Type of Investment Second Lien/Senior Secured Debt Industry Classification Metals & Mining One2025-01-012025-12-310001372807bcic:SecondLienOrSeniorSecuredDebtMemberus-gaap:InvestmentAffiliatedIssuerMember2025-12-310001372807bcic:BetaNxtIncMemberbcic:FirstLienDebtMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien /Senior Secured Debt Middle West Spirits, LLC (Revolver) Beverages Reference Rate and Spread SOFR + 6.25% Floor 2.00% Maturity 04/23/302025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:BookValueMultipleMemberbcic:EnterpriseValueValuationTechniqueMembersrt:WeightedAverageMemberus-gaap:EquitySecuritiesMember2025-12-310001372807bcic:SevenPointThreeSevenFivePercentNotesDueTwoThousandNineteenMember2016-01-012016-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Freedom Electronics, LLC Electronic Equipment, Instruments & Components2025-12-310001372807us-gaap:UnsecuredDebtMemberbcic:FourPointEightSevenFiveNotesDue2026Member2021-04-300001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Live Comfortably Inc. Household Durables2025-12-310001372807us-gaap:CollateralizedLoanObligationsMemberbcic:CloFundSecuritiesMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Anthem Sports & Entertainment Inc. (Term Loan C) Media Maturity 11/15/272026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberus-gaap:SubordinatedDebtMemberus-gaap:MeasurementInputRevenueMultipleMember2025-12-310001372807bcic:F3CJointVentureMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Global Integrated Flooring Systems Inc. Household Products Interest Rate 12.66% Reference Rate and Spread SOFR + 9.00%, 6.00% PIK Floor 2.00% Maturity 12/31/262026-03-310001372807US-GAAP Investment, Identifier [Axis] > Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt AIDC IntermediateCo 2, LLC (Peak Technologies) IT Services Interest Rate 8.97% Reference Rate and Spread SOFR + 5.25% Floor 1.00% Maturity 07/22/272025-12-310001372807bcic:ElectronicEquipmentInstrumentsAndComponentsMember2026-03-310001372807US-GAAP Investment, Identifier [Axis] > Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt BetaNXT, Inc. (Revolver) Financial Services Interest Rate 7.94% Reference Rate and Spread SOFR + 4.25% Maturity 07/01/272025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberus-gaap:MeasurementInputRevenueMultipleMemberus-gaap:EquitySecuritiesMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Tactical Air Support, Inc. Aerospace & Defense Interest Rate 11.32% Reference Rate and Spread SOFR + 7.50% Floor 1.00% Maturity 12/22/282026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMembersrt:MinimumMemberbcic:FirstLienDebtMemberbcic:MeasurementInputEBITDAMember2026-03-310001372807bcic:ThreeMonthSOFRMember2026-03-310001372807bcic:IncentiveFeeWaiverAgreementMembersrt:MaximumMemberbcic:WaiverCapMember2026-01-012026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Orthopaedic (ITC) Buyer, LLC Health Care Providers & Services Interest Rate 8.67% Reference Rate and Spread SOFR + 5.00% Floor 1.00% Maturity 07/31/282025-12-310001372807us-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberbcic:MeasurementInputTimeToExitMemberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2026-03-310001372807bcic:FirstLienDebtMemberbcic:HRPharmaceuticalsLLCOneMember2026-03-310001372807us-gaap:RevolvingCreditFacilityMemberbcic:GlprfLlcMemberbcic:NonCallPeriodMember2024-07-232024-07-230001372807Investments in Affiliate Portfolio Companies Preferred Stock and Units Phoenix Aviation Capital, LLC Aerospace & Defense2026-03-310001372807bcic:CloFundSecuritiesIndustryMember2026-03-310001372807bcic:FinancialServicesMember2025-12-310001372807us-gaap:AdditionalPaidInCapitalMember2025-03-310001372807Non-controlled affiliated investments Series A-Great Lakes Funding II LLC Type of Investment Joint Ventures Industry Classification Joint Venture2025-01-012025-12-310001372807Investments in Affiliate Portfolio Companies Preferred Stock and Units American Clinical Solutions, LLC - Class A Health Care Providers & Services2025-12-310001372807US-GAAP Investment, Identifier [Axis] > Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Bradshaw International Parent Corp. (Revolver) Specialty Retail Reference Rate and Spread SOFR + 5.75% Floor 1.00% Maturity 10/21/262025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Metrc Inc. Software Interest Rate 9.17% Reference Rate and Spread SOFR + 5.50% Floor 1.00% Maturity 09/30/312025-12-310001372807bcic:HealthCareTechnologyMember2025-12-310001372807bcic:ITServicesMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Derivatives HDNet Holdco LLC (Anthem) Media2025-12-310001372807bcic:HealthCareEquipmentAndSuppliesMember2025-12-310001372807bcic:GroundTransportationMember2025-12-310001372807bcic:HealthCareProvidersAndServicesMember2025-12-310001372807bcic:BuildingProductsMember2026-03-310001372807Investments in Affiliate Portfolio Companies Preferred Stock and Units Westshore RAM, LLC - Class A Financial Services2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Second Lien/Senior Secured Debt Confluence Technologies, Inc. Software Interest Rate 10.30% Reference Rate and Spread SOFR + 6.50%, 6.50% PIK Floor 0.50% Maturity 07/30/292026-03-310001372807bcic:MarchThirtyOneTwoThousandTwentySixMemberbcic:TwoThousandTwentyNineNotesMember2026-03-310001372807bcic:SevenPointThreeSevenFiveNotesDueTwoThousandNineteenMemberbcic:FiscalTwoThousandSeventeenMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt IDC Infusion Services LLC Health Care Providers & Services Interest Rate 10.37% Reference Rate and Spread SOFR + 6.50% Floor 1.00% Maturity 07/07/282025-12-310001372807Non-controlled affiliated investments GreenPark Infrastructure, LLC - Series M-1 Type of Investment Common Stock and Membership Units Industry Classification Commercial Services & Supplies2025-01-012025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Second Lien/Senior Secured Debt Florida Food Products, LLC Second Lien, Term Loan B Food Products Interest Rate 8.65% Reference Rate and Spread SOFR + 5.00%, 2.00% PIK Floor 1.00% Maturity 10/15/302026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Fusion Connect, Inc. Wireless Telecommunication Services2025-12-310001372807Non-controlled affiliated investments Princeton Medspa Partners, LLC Type of Investment Preferred Stock and Units Industry Classification Diversified Consumer Services2025-12-310001372807Investments in Affiliate Portfolio Companies Common Stock and Membership Units GreenPark Infrastructure, LLC - Series M-1 Commercial Services & Supplies2025-12-310001372807Investments in Affiliate Portfolio Companies Preferred Stock and Units Northeast Metal Works LLC - Preferred Metals & Mining2025-12-310001372807Non-controlled affiliated investments Series B-Great Lakes Funding II LLC Type of Investment Joint Ventures Industry Classification Joint Venture2025-12-310001372807bcic:DiversifiedTelecommunicationServicesMember2026-03-310001372807Debt Securitiessrt:MinimumMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Colonnade Intermediate, LLC Software Maturity 09/30/20262026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:JointVenturesMemberbcic:AccountingStandardUpdate201104Member2025-12-310001372807Non-controlled affiliated investments Sierra Hamilton Holdings Corporation Type of Investment Common Stock and Membership Units Industry Classification Energy Equipment & Services2026-03-310001372807bcic:SevenPointThreeSevenFivePercentNotesDueTwoThousandNineteenMember2026-03-310001372807Non-controlled affiliated investments PMP OPCO, LLC (Princeton Medspa Partners, LLC) (Revolver) Type of Investment First Lien/Senior Secured Debt Industry Classification Diversified Consumer Service2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Second Lien/Senior Secured Debt Idera, Inc. IT Services Interest Rate 10.75% Reference Rate and Spread SOFR + 6.75% Floor 0.75% Maturity 02/04/292025-12-310001372807us-gaap:RevolvingCreditFacilityMemberbcic:FiscalTwoThousandTwentyFourMember2026-03-310001372807Non-controlled affiliated investments MMI Holdings, LLC Type of Investment First Lien/Senior Secured Debt Industry Classification Health Care Providers & Services2025-12-310001372807Non-controlled affiliated investments Princeton Medspa Partners, LLC - Warrant Type of Investment Common Stock and Membership Units Industry Classification Diversified Consumer Services2026-03-310001372807Investments in Affiliate Portfolio Companies Second Lien/Senior Secured Debt Northeast Metal Works LLC Metals & Mining Interest Rate 8.00% Maturity 01/01/252025-12-310001372807bcic:SparkBuyerLLCMemberbcic:FirstLienDebtMember2025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:MeasurementInputRequiredRateOfReturnMemberus-gaap:IncomeApproachValuationTechniqueMembersrt:MaximumMemberbcic:SecondLienDebtMember2026-03-310001372807bcic:FirstLienDebtMemberbcic:TaWegHoldingsLlcOneMember2025-12-310001372807Non-controlled affiliated investments GreenPark Infrastructure, LLC - Series M-1 Type of Investment Common Stock and Membership Units Industry Classification Commercial Services & Supplies2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Middle West Spirits, LLC Beverages2025-12-310001372807bcic:GarsCommonStockMemberbcic:GarsAcquisitionMember2020-10-280001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien /Senior Secured Debt Morae Global Corporation (Term Loan B) IT Services Interest Rate 12.02% Reference Rate and Spread SOFR + 8.00% Floor 2.00% Maturity 10/31/282025-12-310001372807bcic:SevenPointFiveZeroNotesDue2029Member2026-03-200001372807bcic:SixPointOneTwoFiveNotesDue2022Member2018-01-012018-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Preferred Stock and Units VBC Spine Opco LLC (DxTx Pain and Spine LLC) (Class A Preferred) Health Care Providers & Services Interest Rate 14.00% Reference Rate and Spread 14.00%, 10.50% PIK2026-03-310001372807bcic:MarchThirtyOneTwoThousandTwentySixMemberus-gaap:RevolvingCreditFacilityMember2026-03-3100013728072019-03-290001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Centric Brands Inc. (Term Loan A1) Textiles, Apparel & Luxury Goods Interest Rate 10.17% Reference Rate and Spread SOFR + 6.50% Floor 1.00% Maturity 02/06/312026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Spinrite, Inc. (Revolver) Leisure Products Interest Rate 11.17% Reference Rate and Spread SOFR + 7.50% Maturity 12/05/302026-03-310001372807bcic:JointVenturesMember2026-01-012026-03-310001372807us-gaap:CollateralizedLoanObligationsMemberbcic:CatamaranClo20181LtdMemberbcic:CloFundSecuritiesMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Swift Aggregator LLC (formerly GA Communications, Inc.) Media2025-12-310001372807us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2026-03-310001372807bcic:FirstLienDebtMemberbcic:MoraeGlobalCorporationMember2025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:FirstLienDebtMemberus-gaap:MeasurementInputSharePriceMemberus-gaap:IncomeApproachValuationTechniqueMember2025-12-310001372807Non-controlled affiliated investments EBSC Holdings LLC (Riddell, Inc.) Type of Investment Preferred Stock and Units Industry Classification Leisure Products2024-12-310001372807bcic:LRFCAcquisitionMemberbcic:TwoThousandAndThirtyTwoConvertibleNotesMember2022-04-010001372807Non-controlled affiliated investments JMP Credit Advisors CLO V LTD Type of Investment Collateralized Loan Obligations Industry Classification CLO Fund Securities2026-01-012026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:MeasurementInputRecentTransactionBidMemberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2026-03-310001372807us-gaap:UnsecuredDebtMemberus-gaap:PrivatePlacementMemberbcic:FourPointEightSevenFiveNotesDue2026Member2021-06-232021-06-230001372807us-gaap:InvestmentUnaffiliatedIssuerMember2025-01-012025-03-310001372807bcic:TwoThousandAndThirtyNotesMemberbcic:MarchThirtyOneTwoThousandTwentySixMember2026-03-310001372807bcic:GarsAcquisitionMember2020-10-280001372807Non-controlled affiliated investments Phoenix Aviation Capital, LLC Type of Investment Common Stock and Membership Units Industry Classification Aerospace & Defense2025-12-310001372807us-gaap:SubordinatedDebtMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-3100013728072026-01-012026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt GP Midco, LLC (Beauty by Imagination) Personal Care Products Interest Rate 8.66% Reference Rate and Spread SOFR + 5.00% Maturity 11/01/302026-03-310001372807Non-controlled affiliated investments Princeton Medspa Partners, LLC - Put Option Type of Investment Derivatives Industry Classification Diversified Consumer Services2025-12-310001372807bcic:CommunicationsEquipmentMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:MeasurementInputSharePriceMembersrt:MaximumMemberus-gaap:EquitySecuritiesMember2026-03-310001372807bcic:ContainersAndPackagingMember2026-03-310001372807bcic:TwoThousandTwentyFourStockRepurchaseProgramMember2025-01-012025-03-310001372807bcic:GroundTransportationMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Taoglas Group Holdings Limited Electronic Equipment, Instruments & Components Interest Rate 10.92% Reference Rate and Spread SOFR + 7.25% Floor 1.00% Maturity 02/28/292025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberbcic:FirstLienDebtMembersrt:MinimumMemberbcic:MeasurementInputRecoveryPercentageMember2026-03-310001372807us-gaap:SubsequentEventMemberbcic:BaseDistributionMemberbcic:O2026M4DividendsMember2026-04-302026-04-3000013728072024-03-112024-03-110001372807Non-controlled affiliated investments Princeton Medspa Partners, LLC Type of Investment Preferred Stock and Units Industry Classification Diversified Consumer Services2024-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberus-gaap:DerivativeMemberbcic:MeasurementInputEBITDAMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Taoglas Group Holdings Limited Electronic Equipment, Instruments & Components Interest Rate 10.95% Reference Rate and Spread SOFR + 7.25% Floor 1.00% Maturity 02/28/292026-03-310001372807us-gaap:InvestmentUnaffiliatedIssuerMemberbcic:FirstLienSeniorSecuredDebtMember2026-03-310001372807us-gaap:PreferredStockMemberus-gaap:InvestmentAffiliatedIssuerMember2025-12-3100013728072025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Fusion Connect, Inc. - Warrant Wireless Telecommunication Services2026-03-310001372807bcic:CommonStockAndMembershipUnitsMemberus-gaap:InvestmentAffiliatedIssuerMember2026-03-310001372807bcic:MeasurementInputRequiredRateOfReturnMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMemberbcic:FirstLienDebtMemberus-gaap:IncomeApproachValuationTechniqueMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Derivatives Advantage Capital Holdings LLC Financial Services2025-12-310001372807US-GAAP Investment, Identifier [Axis] > Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Datalink, LLC Health Care Technology Maturity 11/23/262025-12-3100013728072025-01-012025-03-310001372807bcic:FirstLienDebtMemberbcic:BradshawInternationalParentCorpMember2026-03-310001372807Non-controlled affiliated investments Princeton Medspa Partners, LLC - Warrant Type of Investment Common Stock and Membership Units Industry Classification Diversified Consumer Services2025-01-012025-12-310001372807bcic:TwoThousandAndTwentySixNotesMember2025-12-310001372807Non-controlled affiliated investments MMI Holdings, LLC Type of Investment Preferred Stock and Units Industry Classification Health Care Providers & Services2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMembersrt:WeightedAverageMemberbcic:FirstLienDebtMemberus-gaap:MeasurementInputRevenueMultipleMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Validity, Inc. Software Interest Rate 9.18% Reference Rate and Spread SOFR + 5.25% Maturity 04/12/322025-12-310001372807us-gaap:RevolvingCreditFacilityMember2024-07-230001372807us-gaap:SubsequentEventMemberbcic:O2026M5DividendsMember2026-05-072026-05-070001372807Non-controlled affiliated investments Northeast Metal Works LLC - Preferred Type of Investment Preferred Stock and Units Industry Classification Metals & Mining2025-12-310001372807bcic:SecondLienDebtMember2025-12-310001372807Controlled investments KCAP Freedom 3, LLC Type of Investment Joint Ventures Industry Classification Joint Venture2026-03-310001372807us-gaap:SubordinatedDebtMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberbcic:EnterpriseMarketValueValuationTechniqueMemberus-gaap:DerivativeMember2026-03-310001372807Non-controlled affiliated investments V12 Holdings, Inc. Type of Investment Common Stock and Membership Units Industry Classification Software2025-01-012025-12-310001372807us-gaap:EquitySecuritiesMember2025-03-310001372807bcic:SecondLienOrSeniorSecuredDebtMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001372807US-GAAP Investment, Identifier [Axis] > Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt CB MIDCO, LLC Diversified Consumer Services Maturity 09/27/272025-12-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:SubordinatedDebtMemberbcic:AccountingStandardUpdate201104Member2025-12-310001372807bcic:TwoThousandAndThirtyTwoConvertibleNotesMember2024-03-280001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt TA/WEG Holdings, LLC (Revolver) Financial Services Reference Rate and Spread SOFR + 6.25% Floor 1.00% Maturity 10/02/282026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Morae Global Corporation (Revolver) IT Services Interest Rate 11.81% Reference Rate and Spread SOFR + 8.00% Floor 2.00% Maturity 10/31/282026-03-310001372807bcic:SevenPointFiveZeroNotesDue2028Member2026-03-200001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberus-gaap:EquitySecuritiesMember2025-12-310001372807bcic:FirstLienDebtMemberbcic:DentiveLLCMember2025-12-310001372807bcic:InteractiveMediaAndServicesMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt CCMG Buyer, LLC (Care Connectors Medical Group) Health Care Providers & Services Interest Rate 8.42% Reference Rate and Spread SOFR + 4.75% Floor 1.00% Maturity 05/08/302026-03-310001372807bcic:SixPointOneTwoFiveNotesDueTwoThousandTwentyTwoMemberbcic:FiscalTwoThousandEighteenMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Live Comfortably Inc. Household Durables Interest Rate 6.83% Reference Rate and Spread SOFR + 3.00% Floor 2.00% Maturity 09/20/272025-12-310001372807bcic:JointVenturesMember2025-12-3100013728072025-03-310001372807bcic:AccountingStandardUpdate201104Memberus-gaap:DerivativeMember2026-03-310001372807Non-controlled affiliated investments Northeast Metal Works LLC - Class O Preferred Type of Investment Preferred Stock and Units Industry Classification Metals & Mining2025-12-310001372807us-gaap:RevolvingCreditFacilityMember2026-01-012026-03-310001372807bcic:KeyBankCreditFacilityMember2025-07-152025-07-150001372807bcic:SevenPointFiveZeroNotesDue2028Member2025-10-102025-10-100001372807us-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberbcic:MeasurementInputOptionPurchasePriceMemberus-gaap:EquitySecuritiesMember2026-03-310001372807us-gaap:SubordinatedDebtMember2025-01-012025-03-310001372807Non-controlled affiliated investments American Clinical Solutions, LLC Type of Investment Common Stock and Membership Units Industry Classification Health Care Providers & Services2025-12-310001372807Non-controlled affiliated investments Burgaflex Holdings, LLC - Class A Type of Investment Common Stock and Membership Units Industry Classification Automobile Components2025-12-310001372807us-gaap:CollateralizedLoanObligationsMember2025-01-012025-03-310001372807us-gaap:RevolvingCreditFacilityMemberbcic:GlprfLlcMember2026-01-012026-03-310001372807bcic:DecemberThirtyOneTwoThousandTwentyFiveMemberbcic:KeyBankCreditFacilityMember2025-12-310001372807bcic:FirstLienDebtMemberbcic:AccountingStandardUpdate201104Member2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:AccountingStandardUpdate201104Memberbcic:SecondLienDebtMember2025-12-310001372807us-gaap:InvestmentUnaffiliatedIssuerMember2026-01-012026-03-310001372807bcic:FirstLienDebtMember2026-01-012026-03-310001372807us-gaap:CollateralizedLoanObligationsMemberbcic:CatamaranClo20181LtdMemberbcic:CloFundSecuritiesMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt VBC Spine Opco LLC (DxTx Pain and Spine LLC) (Revolver) Health Care Providers & Services Interest Rate 10.17% Reference Rate and Spread SOFR + 6.50% Floor 2.00% Maturity 06/14/292026-03-310001372807us-gaap:SubsequentEventMemberbcic:TwoThousandAndTwentySixNotesMember2026-04-270001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Florida Food Products, LLC First Lien, Term Loan C Food Products Interest Rate 9.15% Reference Rate and Spread SOFR + 5.50% Floor 2.00% Maturity 10/15/302026-03-310001372807bcic:ProfessionalServicesMember2026-03-310001372807Investments in Affiliate Portfolio Companies Preferred Stock and Units Northeast Metal Works LLC - Class O Preferred Metals & Mining2025-12-310001372807bcic:ContainersAndPackagingMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt PVHC Holding Corp Containers & Packaging Interest Rate 13.10% Reference Rate and Spread SOFR + 9.25%, 2.75% PIK Floor 2.50% Maturity 02/17/272026-03-310001372807us-gaap:CollateralizedMortgageObligationsMemberus-gaap:InvestmentAffiliatedIssuerMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Subordinated Debt Eastport Holdings, LLC Commercial Services & Supplies Interest Rate 12.55% Reference Rate and Spread SOFR + 8.50% Floor 1.00% Maturity 09/29/272025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseMarketValueValuationTechniqueMemberus-gaap:DerivativeMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Preferred Stock and Units Aperture Dodge 18 LLC Financial Services2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Carestream Health Holdings, Inc. Health Care Equipment & Supplies2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:MeasurementInputTimeToExitMemberbcic:FirstLienDebtMemberus-gaap:IncomeApproachValuationTechniqueMember2025-12-310001372807bcic:FourPointEightSevenFiveNotesDue2026Member2025-10-142025-10-140001372807us-gaap:RevolvingCreditFacilityMemberbcic:GlprfLlcMembersrt:MaximumMember2024-07-230001372807bcic:MarchThirtyOneTwoThousandTwentySixMemberbcic:TwoThousandAndThirtyTwoConvertibleNotesMember2026-03-310001372807bcic:ElectronicEquipmentInstrumentsAndComponentsMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Everyware Global, Inc. Household Products2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt PMA Parent Holdings LLC (Revolver) Capital Markets Reference Rate and Spread SOFR + 4.75% Floor 0.75% Maturity 01/31/312025-12-310001372807Investments in Affiliate Portfolio Companies Common Stock and Membership Units Burgaflex Holdings, LLC - Class B Automobile Components2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt 13 Scents Inc. Personal Care Products Interest Rate 10.45% Reference Rate and Spread SOFR + 6.75% Floor 1.00% Maturity 03/31/312026-03-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberbcic:FirstLienDebtMember2025-12-310001372807Non-controlled affiliated investments MMI Holdings, LLC Type of Investment First Lien/Senior Secured Debt Industry Classification Health Care Equipment & Services2025-12-310001372807bcic:SevenPointSevenFiveNotesDue2030Member2026-01-012026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Spinrite, Inc. (Revolver) Leisure Products Reference Rate and Spread SOFR + 7.50% Maturity 12/05/302025-12-310001372807bcic:SevenPointFiveZeroNotesDue2028Member2026-01-012026-03-310001372807Non-controlled affiliated investments PMP OPCO, LLC (Princeton Medspa Partners, LLC) Type of Investment First Lien/Senior Secured Debt Industry Classification Diversified Consumer Services2025-01-012025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Sundance Holdings Group, LLC Specialty Retail2026-03-310001372807us-gaap:CollateralizedLoanObligationsMember2026-01-012026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Subordinated Debt DeltaDx Limited, LP (Money Transfer Acquisition Inc.) Financial Services Interest Rate 15.00% PIK Maturity 06/14/282025-12-310001372807bcic:AccountingStandardUpdate201104Memberus-gaap:DerivativeMember2025-12-310001372807Total controlled investments2026-01-012026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberus-gaap:MeasurementInputRevenueMultipleMembersrt:MaximumMemberus-gaap:EquitySecuritiesMember2026-03-310001372807bcic:CatamaranClo20141LtdMemberus-gaap:CollateralizedLoanObligationsMemberbcic:CloFundSecuritiesMember2026-03-310001372807Non-controlled affiliated investments Kleen-Tech Acquisition, LLC Type of Investment Common Stock and Membership Units Industry Classification Commercial Services & Supplies2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units VTX Holdings LLC - Series C IT Services2025-12-310001372807bcic:AccountingStandardUpdate201104Memberbcic:SecondLienDebtMember2025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMembersrt:MaximumMemberbcic:MeasurementInputAverageEbitdaMultipleMemberus-gaap:EquitySecuritiesMember2025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberbcic:FirstLienDebtMembersrt:MaximumMemberbcic:MeasurementInputEBITDAMember2026-03-310001372807Non-controlled affiliated investments PMP OPCO, LLC (Princeton Medspa Partners, LLC) Type of Investment First Lien/Senior Secured Debt Industry Classification Diversified Consumer Services2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMembersrt:WeightedAverageMemberbcic:FirstLienDebtMemberbcic:MeasurementInputRecoveryPercentageMember2025-12-310001372807bcic:FirstLienDebtMemberbcic:TaWegHoldingsLlcOneMember2026-03-310001372807bcic:AccountingStandardUpdate201104Memberus-gaap:EquitySecuritiesMember2025-12-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPriceVolatilityMembersrt:WeightedAverageMemberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:BookValueMultipleMemberbcic:EnterpriseValueValuationTechniqueMembersrt:WeightedAverageMemberus-gaap:EquitySecuritiesMember2026-03-310001372807bcic:SeriesAGreatLakesFundingIiLlcMember2026-03-310001372807bcic:AssetManagerSubsidiariesMember2018-12-312018-12-310001372807bcic:KeyBankCreditFacilityMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Collateralized Loan Obligations Catamaran CLO 2018-1 Ltd CLO Fund Securities Maturity 10/27/312026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien /Senior Secured Debt Live Comfortably Inc. Household Durables Interest Rate 13.78% Reference Rate and Spread SOFR + 10.00%, 2.00% PIK Floor 3.00% Maturity 09/20/272026-03-310001372807bcic:SixPointOneTwoFiveNotesDue2022Member2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Ohene Holdings B.V. - Warrant IT Services2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Dodge Data & Analytics LLC (Second Out) Professional Services Interest Rate 8.55% Reference Rate and Spread SOFR + 4.75% Floor 0.50% Maturity 02/28/292026-03-310001372807Non-controlled affiliated investments Kleen-Tech Acquisition, LLC Type of Investment Common Stock and Membership Units Industry Classification Commercial Services & Supplies2024-12-310001372807bcic:MeasurementInputRequiredRateOfReturnMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMemberus-gaap:IncomeApproachValuationTechniqueMemberbcic:SecondLienDebtMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberus-gaap:SubordinatedDebtMember2025-12-310001372807Investments in Affiliate Portfolio Companies Common Stock and Membership Units Sierra Hamilton Holdings Corporation Energy Equipment & Services2026-03-310001372807US-GAAP Investment, Identifier [Axis] > Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Centric Brands Inc. (Term Loan A1) Textiles, Apparel & Luxury Goods Interest Rate 10.39% Reference Rate and Spread SOFR + 6.50% Floor 1.00% Maturity 02/06/312025-12-310001372807us-gaap:CollateralizedLoanObligationsMemberbcic:JmpCreditAdvisorsCloIvLtdMemberbcic:CloFundSecuritiesMember2025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberbcic:FirstLienDebtMembersrt:MaximumMemberbcic:MeasurementInputRecoveryPercentageMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Subordinated Debt Tubular Textile Machinery, Inc. Machinery Interest Rate 5.00% PIK Maturity 10/29/272026-03-310001372807us-gaap:CollateralizedLoanObligationsMemberbcic:AccountingStandardUpdate201104Member2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Dentive, LLC (Revolver) Health Care Providers & Services Interest Rate 10.95% Reference Rate and Spread SOFR + 7.25%, 4.25% PIK Floor 0.75% Maturity 12/22/282026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Anthem Sports & Entertainment Inc. (Term Loan B) Media Interest Rate 10.00% PIK Maturity 11/15/272026-03-310001372807bcic:KeyBankCreditFacilityMemberbcic:FiscalTwoThousandTwentyFiveMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt MAG DS Corp. Aerospace & Defense Interest Rate 9.27% Reference Rate and Spread SOFR + 5.50% Floor 1.00% Maturity 04/01/272025-12-310001372807bcic:DerivativesMember2025-12-310001372807bcic:TwoThousandAndThirtyTwoConvertibleNotesMember2025-07-150001372807bcic:TwoThousandAndThirtyTwoConvertibleNotesMember2026-03-310001372807us-gaap:InvestmentAffiliatedIssuerControlledMemberbcic:AssetManagerAffiliatesMember2025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberbcic:FirstLienDebtMember2026-03-310001372807bcic:IndustrialConglomeratesMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Second Lien/Senior Secured Debt Florida Food Products, LLC Second Lien, Term Loan B Food Products Interest Rate 9.05% Reference Rate and Spread SOFR + 5.00%, 2.00% PIK Floor 1.00% Maturity 10/15/302025-12-310001372807Investments in Affiliate Portfolio Companies First Lien/Senior Secured Debt Riddell, Inc. Leisure Products Interest Rate 9.68% Reference Rate and Spread SOFR + 6.00% Floor 1.00% Maturity 03/29/292026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt HDC/HW Intermediate Holdings, LLC - Term Loan A Software Interest Rate 9.01% Reference Rate and Spread SOFR + 3.50%, 2.50% PIK Floor 5.25% Maturity 06/21/262025-12-310001372807bcic:DerivativesMemberus-gaap:InvestmentAffiliatedIssuerMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien /Senior Secured Debt Money Transfer Acquisition Inc. Financial Services Interest Rate 12.07% Reference Rate and Spread SOFR + 8.25% Floor 1.00% Maturity 12/14/272025-12-310001372807us-gaap:RevolvingCreditFacilityMember2025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:AccountingStandardUpdate201104Memberus-gaap:EquitySecuritiesMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Ivanti Software, Inc. – NewCo Software Interest Rate 9.64% Reference Rate and Spread SOFR + 5.75% Floor 2.00% Maturity 06/01/292025-12-310001372807bcic:BeveragesMember2025-12-310001372807bcic:TwoThousandTwentyFourStockRepurchaseProgramMember2024-03-110001372807bcic:FirstLienDebtMemberbcic:NewburyFranklinIndustrialsLLCMember2026-03-3100013728072024-12-310001372807bcic:FoodProductsMember2026-03-310001372807us-gaap:RetainedEarningsMember2025-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberus-gaap:SubordinatedDebtMemberbcic:MeasurementInputRecoveryPercentageMember2026-03-310001372807bcic:TwoThousandAndTwentyFiveStockRepurchaseProgramMember2025-03-122025-03-120001372807srt:MinimumMemberbcic:NonControlledAffiliatedInvestmentsMember2025-12-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:CollateralizedLoanObligationsMemberbcic:AccountingStandardUpdate201104Member2026-03-310001372807Investments in Affiliate Portfolio Companies Second Lien/Senior Secured Debt MMI Holdings, LLC Health Care Providers & Services Maturity 12/31/252025-12-310001372807bcic:SoftwareMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Carestream Health Holdings, Inc. Health Care Equipment & Supplies2025-12-310001372807bcic:DecemberThirtyOneTwoThousandTwentyFiveMemberbcic:TwoThousandAndTwentyEightNotesMember2025-12-310001372807bcic:OneMTermSOFRMember2026-01-012026-03-310001372807Put option, Epilog Partners LP (Care Connectors Medical Group)2025-12-310001372807us-gaap:AdditionalPaidInCapitalMember2025-01-012025-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Morae Global Holdings Inc. - Warrant IT Services2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt MSM Acquisitions, Inc. Software Interest Rate 9.67% Reference Rate and Spread SOFR + 6.00% Floor 1.00% Maturity 12/09/262026-03-310001372807Investments in Affiliate Portfolio Companies Preferred Stock and Units MMI Holdings, LLC Health Care Providers & Services2026-03-310001372807Non-controlled affiliated investments GreenPark Infrastructure, LLC - Series M-1 Type of Investment Common Stock and Membership Units Industry Classification Commercial Services & Supplies2024-12-310001372807Non-controlled affiliated investments MMI Holdings, LLC Type of Investment Preferred Stock and Units Industry Classification Health Care Equipment & Services2025-12-310001372807Put option, Princeton Medspa Partners, LLC2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:MeasurementInputTimeToExitMemberus-gaap:IncomeApproachValuationTechniqueMembersrt:MaximumMemberus-gaap:EquitySecuritiesMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt AIDC IntermediateCo 2, LLC (Peak Technologies) IT Services Interest Rate 8.92% Reference Rate and Spread SOFR + 5.25% Floor 1.00% Maturity 07/22/272026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Morae Global Holdings Inc. - Warrant IT Services2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units World Business Lenders, LLC Financial Services2025-12-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:CollateralizedLoanObligationsMemberus-gaap:MeasurementInputDiscountRateMembersrt:MinimumMemberus-gaap:IncomeApproachValuationTechniqueMember2026-03-310001372807Non-controlled affiliated investments JMP Credit Advisors CLO IV LTD Type of Investment Collateralized Loan Obligations Industry Classification CLO Fund Securities2025-01-012025-12-310001372807bcic:SevenPointThreeSevenFivePercentNotesDueTwoThousandNineteenMember2015-01-012015-12-310001372807bcic:SpinriteIncMemberbcic:FirstLienDebtMember2025-12-310001372807us-gaap:EquitySecuritiesMember2025-01-012025-03-310001372807Non-controlled affiliated investments GreenPark Infrastructure, LLC - Series A Type of Investment Preferred Stock and Units Industry Classification Commercial Services & Supplies2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:AccountingStandardUpdate201104Memberbcic:FirstLienDebtMember2026-03-310001372807Non-controlled affiliated investments Northeast Metal Works LLC Type of Investment Second Lien/Senior Secured Debt Industry Classification Metals & Mining2026-01-012026-03-310001372807us-gaap:SubordinatedDebtMember2025-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Orthopaedic (ITC) Buyer, LLC Health Care Providers & Services Interest Rate 8.70% Reference Rate and Spread SOFR + 5.00% Floor 1.00% Maturity 07/31/282026-03-310001372807Non-controlled affiliated investments Northeast Metal Works LLC - Class O Preferred Type of Investment Preferred Stock and Units Industry Classification Metals & Mining2026-01-012026-03-310001372807bcic:SevenPointSevenFiveNotesDue2030Member2025-10-102025-10-100001372807Non-controlled affiliated investments EBSC Holdings LLC (Riddell, Inc.) Type of Investment Preferred Stock and Units Industry Classification Leisure Products2025-12-310001372807Non-controlled affiliated investments Riddell, Inc. Type of Investment First Lien/Senior Secured Debt Industry Classification Leisure Products2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Fusion Parent, LLC (fka Franchise Group Inc.) Diversified Consumer Services2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units World Business Lenders, LLC Financial Services2026-03-310001372807bcic:JointVenturesMember2024-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Appfire Technologies, LLC Software Interest Rate 8.45% Reference Rate and Spread SOFR + 4.75% Floor 1.00% Maturity 03/09/282026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units FP WRCA Coinvestment Fund VII, Ltd. - Class A Building Products2026-03-310001372807Non-controlled affiliated investments BMP Slappey Holdco, LLC Type of Investment Preferred Stock and Units Industry Classification Diversified Telecommunication Services2025-01-012025-12-310001372807Investments in Controlled Affiliated Portfolio Companies Asset Manager Affiliates Asset Management Company Asset Management Company2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt South Street Securities Holdings, Inc Financial Services Interest Rate 9.00% Maturity 09/20/272025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Roscoe Investors, LLC - Class A Health Care Equipment & Supplies2025-12-310001372807bcic:BeveragesMember2026-03-310001372807bcic:SixPointOneTwoFiveNotesDue2022Member2021-04-300001372807bcic:JointVenturesMemberbcic:AccountingStandardUpdate201104Member2026-03-310001372807bcic:CommercialServicesAndSuppliesMember2025-12-310001372807bcic:SevenPointFiveZeroNotesDue2029Member2026-03-242026-03-310001372807us-gaap:RevolvingCreditFacilityMemberbcic:GlprfLlcMember2024-07-232024-07-230001372807bcic:HotelsRestaurantsAndLeisureMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Middle West Spirits, LLC Beverages2026-03-310001372807Investments in Affiliate Portfolio Companies Common Stock and Membership Units Kleen-Tech Acquisition, LLC Commercial Services & Supplies2026-03-310001372807us-gaap:RevolvingCreditFacilityMemberbcic:FiscalTwoThousandTwentyMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberbcic:MeasurementInputEBITDAMemberus-gaap:EquitySecuritiesMember2026-03-310001372807us-gaap:PreferredStockMemberus-gaap:InvestmentAffiliatedIssuerMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:AccountingStandardUpdate201104Member2025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:MeasurementInputRequiredRateOfReturnMemberbcic:FirstLienDebtMemberus-gaap:IncomeApproachValuationTechniqueMembersrt:MaximumMember2025-12-310001372807Investments in Controlled Affiliated Portfolio Companies Joint Ventures KCAP Freedom 3 LLC Joint Venture2026-03-310001372807bcic:CapitalMarketsMember2025-12-310001372807Non-controlled affiliated investments Princeton Medspa Partners, LLC - Put Option Type of Investment Derivatives Industry Classification Diversified Consumer Services2026-03-310001372807us-gaap:DerivativeMember2026-03-310001372807Investments in Affiliate Portfolio Companies Common Stock and Membership Units Princeton Medspa Partners, LLC - Warrant Diversified Consumer Services2026-03-310001372807bcic:LRFCAcquisitionMemberbcic:TwoThousandAndTwentySixNotesMember2025-07-150001372807Investments in Affiliate Portfolio Companies Common Stock and Membership Units Phoenix Aviation Capital, LLC Aerospace & Defense2025-12-310001372807Investments in Affiliate Portfolio Companies Preferred Stock and Units GreenPark Infrastructure, LLC - Series A Commercial Services & Supplies2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Red Range Intermediate Inc. Industrial Conglomerates Interest Rate 11.76% Reference Rate and Spread SOFR + 8.00% Floor 1.00% Maturity 10/01/292026-03-310001372807bcic:MarchThirtyOneTwoThousandTwentySixMemberbcic:KeyBankCreditFacilityMember2026-03-310001372807bcic:LeadIndependentDirectorMember2026-01-012026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMembersrt:WeightedAverageMemberbcic:MeasurementInputExpectedTakeoutPriceMemberus-gaap:EquitySecuritiesMember2025-12-310001372807Non-controlled affiliated investments PMP OPCO, LLC (Princeton Medspa Partners, LLC) (Revolver) Type of Investment First Lien/Senior Secured Debt Industry Classification Diversified Consumer Service2025-01-012025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Derivatives HDNet Holdco LLC (Anthem) Media2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Accurate Background, LLC IT Services Interest Rate 9.96% Reference Rate and Spread SOFR + 6.00% Floor 1.00% Maturity 03/26/292026-03-310001372807srt:MinimumMemberbcic:ControlledAffiliatedInvestmentsMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Fusion Parent, LLC (fka Franchise Group Inc.) Diversified Consumer Services2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Collateralized Loan Obligations Dryden 30 Senior Loan Fund CLO Fund Securities Maturity 11/01/282025-12-310001372807Non-controlled affiliated investments MMI Holdings, LLC Type of Investment First Lien/Senior Secured Debt Industry Classification Health Care Providers & Services2026-03-310001372807us-gaap:EquitySecuritiesMember2024-12-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberbcic:JointVenturesMemberus-gaap:IncomeApproachValuationTechniqueMember2026-03-310001372807bcic:JointVenturesMemberbcic:AccountingStandardUpdate201104Member2025-12-310001372807bcic:TwoThousandTwentySixStockRepurchaseProgramMember2026-01-012026-03-310001372807Non-controlled affiliated investments MMI Holdings, LLC Type of Investment First Lien/Senior Secured Debt Industry Classification Health Care Equipment & Services2025-01-012025-12-310001372807Non-controlled affiliated investments BMP Slappey Investment II Type of Investment Preferred Stock and Units Industry Classification Diversified Telecommunication Services2025-01-012025-12-310001372807us-gaap:ConvertibleDebtSecuritiesMemberbcic:TwoThousandAndThirtyTwoConvertibleNotesMember2026-01-012026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Preferred Stock and Units 4L Ultimate Topco Corporation Commercial Services & Supplies2026-03-310001372807bcic:SevenPointFiveZeroNotesDue2029Member2025-10-100001372807us-gaap:CallOptionMember2026-03-310001372807bcic:FourPointEightSevenFiveNotesDue2026Member2026-01-012026-03-310001372807Non-controlled affiliated investments Westshore Ram, LLC Type of Investment Preferred Stock and Units Industry Classification Financial Services2025-12-310001372807bcic:ChairOfNominatingAndCorporateGovernanceCommitteeMember2026-01-012026-03-310001372807us-gaap:InvestmentAffiliatedIssuerControlledMemberbcic:JointVenturesMember2025-12-310001372807us-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Preferred Stock and Units Epilog Partners SPV III, LLC (Care Connectors Medical Group) Health Care Providers & Services2025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMembersrt:WeightedAverageMemberbcic:FirstLienDebtMemberbcic:MeasurementInputEBITDAMember2026-03-310001372807US-GAAP Investment, Identifier [Axis] > Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Anthem Sports & Entertainment Inc. (Hollywood Suites Delayed Draw Term Loan) Media Interest Rate 9.43% Reference Rate and Spread SOFR + 5.50%, 9.43% PIK Floor 1.00% Maturity 11/15/272025-12-310001372807bcic:ITServicesMember2025-12-310001372807bcic:GlprfLlcMember2022-04-290001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Second Lien/Senior Secured Debt BLST Operating Company, LLC Broadline Retail Maturity 01/31/262025-12-310001372807Non-controlled affiliated investments EBSC Holdings LLC (Riddell, Inc.) Type of Investment Preferred Stock and Units Industry Classification Leisure Products2025-01-012025-12-310001372807bcic:ShepherdParentHoldingsLLCRevolverMemberbcic:FirstLienDebtMember2026-03-310001372807bcic:HouseholdDurablesMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien /Senior Secured Debt Netwrix Corporation (Revolver) Software Reference Rate and Spread SOFR + 4.50% Floor 0.75% Maturity 06/09/292025-12-310001372807bcic:FourPointEightSevenFiveNotesDue2026Memberbcic:FiscalTwoThousandTwentyFourMember2026-03-310001372807us-gaap:FairValueInputsLevel3Member2025-12-310001372807Controlled investments ProAir Holdco, LLC, LLC Type of Investment Common Stock and Membership Units Industry Classification Trading Companies & Distributors2025-01-012025-12-310001372807us-gaap:CommonStockMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:JointVenturesMemberus-gaap:IncomeApproachValuationTechniqueMember2026-03-310001372807us-gaap:RevolvingCreditFacilityMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:MeasurementInputRequiredRateOfReturnMembersrt:WeightedAverageMemberus-gaap:SubordinatedDebtMemberus-gaap:IncomeApproachValuationTechniqueMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units AIP Capital, LLC Financial Services2025-12-310001372807Investments in Affiliate Portfolio Companies Derivatives Princeton Medspa Partners, LLC Diversified Consumer Services2026-03-310001372807Non-controlled affiliated investments Northeast Metal Works LLC Type of Investment Second Lien/Senior Secured Debt Industry Classification Metals & Mining One2025-12-310001372807bcic:AssetManagementCompanyMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Subordinated Debt DeltaDx Limited, LP (Money Transfer Acquisition Inc.) Financial Services Interest Rate 15.00% PIK Maturity 06/14/282026-03-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:CollateralizedLoanObligationsMemberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:MeasurementInputPrepaymentRateMember2026-03-310001372807bcic:DiversifiedTelecommunicationServicesMember2025-12-310001372807Non-controlled affiliated investments Phoenix Aviation Capital, LLC Type of Investment Common Stock and Membership Units Industry Classification Aerospace & Defense2025-01-012025-12-310001372807Non-controlled affiliated investments Northeast Metal Works LLC Type of Investment Second Lien/Senior Secured Debt Industry Classification Metals & Mining2026-03-310001372807US-GAAP Investment, Identifier [Axis] > Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Colonnade Intermediate, LLC (Revolver) Software Maturity 09/30/262025-12-310001372807US-GAAP Investment, Identifier [Axis] > Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Anthem Sports & Entertainment Inc. (Term Loan B) Media Interest Rate 10.00% PIK Maturity 11/15/272024-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Metrc Inc. Software Interest Rate 9.20% Reference Rate and Spread SOFR + 5.50% Floor 1.00% Maturity 09/30/312026-03-310001372807bcic:TwoThousandAndThirtyTwoConvertibleNotesMemberbcic:FiscalTwoThousandTwentyFiveMember2026-03-310001372807bcic:JointVenturesMemberus-gaap:InvestmentAffiliatedIssuerMember2026-03-310001372807bcic:JointVentureMember2026-01-012026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units DxTx Pain and Spine LLC Health Care Providers & Services2025-12-310001372807bcic:PMAParentHoldingsLLCMemberbcic:FirstLienDebtMember2025-12-310001372807Investments in Affiliate Portfolio Companies First Lien/Senior Secured Debt American Clinical Solutions, LLC Health Care Providers & Services Interest Rate 10.82% Reference Rate and Spread SOFR + 7.00%, 3.82% PIK Floor 1.00% Maturity 06/30/262025-12-310001372807bcic:FirstLienSeniorSecuredDebtMemberus-gaap:InvestmentAffiliatedIssuerMember2025-12-310001372807bcic:TextilesApparelAndLuxuryGoodsMember2025-12-310001372807us-gaap:CollateralizedLoanObligationsMemberbcic:CloFundSecuritiesMember2025-12-310001372807bcic:MarchThirtyOneTwoThousandTwentySixMemberbcic:TwoThousandAndTwentyEightNotesMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Pomeroy Technologies, LLC (Super Senior A) Software Interest Rate 6.00% PIK Maturity 11/30/272026-03-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:MeasurementInputSharePriceMembersrt:MaximumMemberus-gaap:EquitySecuritiesMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Sundance Holdings Group, LLC Specialty Retail Maturity 06/30/252025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Spinrite, Inc. Leisure Products Interest Rate 11.26% Reference Rate and Spread SOFR + 7.50% Maturity 12/05/302025-12-310001372807Non-controlled affiliated investments PMP OPCO, LLC (Princeton Medspa Partners, LLC) (Revolver) Type of Investment First Lien/Senior Secured Debt Industry Classification Diversified Consumer Service2024-12-310001372807Non-controlled affiliated investments Series A-Great Lakes Funding II LLC Type of Investment Joint Ventures Industry Classification Joint Venture2024-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:MeasurementInputRequiredRateOfReturnMemberus-gaap:IncomeApproachValuationTechniqueMembersrt:MaximumMemberus-gaap:EquitySecuritiesMember2025-12-310001372807bcic:SevenPointFiveZeroNotesDue2029Member2026-03-202026-03-200001372807us-gaap:FairValueInputsLevel3Memberus-gaap:SubordinatedDebtMemberus-gaap:IncomeApproachValuationTechniqueMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt VBC Spine Opco LLC (DxTx Pain and Spine LLC) Health Care Providers & Services Interest Rate 10.49% Reference Rate and Spread SOFR + 6.50% Floor 2.00% Maturity 06/14/282025-12-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2025-12-310001372807bcic:MarchThirtyOneTwoThousandTwentySixMemberbcic:TwoThousandAndThirtyNotesMember2026-03-310001372807us-gaap:AdditionalPaidInCapitalMember2026-01-012026-03-310001372807bcic:NotesIssuedByKCAPSeniorFundingILLCMemberbcic:FiscalTwoThousandFifteenMember2026-03-310001372807bcic:TacticalAirSupportIncMemberbcic:FirstLienDebtMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Derivatives Epilog Partners LP (Care Connectors Medical Group) Health Care Providers & Services2025-12-310001372807Non-controlled affiliated investments Sierra Hamilton Holdings Corporation Type of Investment Common Stock and Membership Units Industry Classification Energy Equipment & Services2026-01-012026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Florida Food Products, LLC First Lien, Term Loan B Food Products Interest Rate 9.15% Reference Rate and Spread SOFR + 5.50% Floor 2.00% Maturity 10/15/302026-03-310001372807bcic:FirstLienDebtMemberbcic:TaoglasGroupHoldingsLimitedRevolverMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt 13 Scents Inc. (Revolver) Personal Care Products Reference Rate and Spread SOFR + 6.75% Floor 1.00% Maturity 03/31/312026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Shepherd Parent Holdings, LLC Health Care Providers & Services Interest Rate 10.90% Reference Rate and Spread SOFR + 7.25% Floor 1.00% Maturity 07/10/302026-03-310001372807bcic:IncentiveFeeWaiverAgreementMember2025-07-012025-09-300001372807bcic:FirstLienDebtMemberbcic:ShepherdParentHoldingsLLCMember2025-12-310001372807Total controlled investments2025-01-012025-12-310001372807bcic:DecemberThirtyOneTwoThousandTwentyFiveMemberus-gaap:RevolvingCreditFacilityMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Taoglas Group Holdings Limited (Revolver) Electronic Equipment, Instruments & Components Interest Rate 11.03% Reference Rate and Spread SOFR + 7.25% Floor 1.00% Maturity 02/28/292025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:BookValueMultipleMemberbcic:EnterpriseValueValuationTechniqueMembersrt:MaximumMemberus-gaap:EquitySecuritiesMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Help Systems Holdings, Inc. Technology Hardware, Storage & Peripherals Interest Rate 9.97% Reference Rate and Spread SOFR + 6.00% Floor 2.00% Maturity 05/19/292025-12-310001372807Non-controlled affiliated investments Burgaflex Holdings, LLC - Class B Type of Investment Common Stock and Membership Units Industry Classification Automobile Components One2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Collateralized Loan Obligations Catamaran CLO 2018-1 Ltd CLO Fund Securities Maturity 10/27/312025-12-310001372807us-gaap:RevolvingCreditFacilityMemberbcic:FiscalTwoThousandTwentyFiveMember2026-03-310001372807bcic:SpinriteIncMemberbcic:FirstLienDebtMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Fusion Connect, Inc. Wireless Telecommunication Services2026-03-310001372807Non-controlled affiliated investments JMP Credit Advisors CLO V LTD Type of Investment Collateralized Loan Obligations Industry Classification CLO Fund Securities2024-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Preferred Stock and Units Taylor Precision Products, Inc. - Series C Household Products2025-12-310001372807bcic:AssetManagerAffiliatesMember2026-03-310001372807US-GAAP Investment, Identifier [Axis] > Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt American Academy Holdings, LLC Health Care Providers & Services Interest Rate 13.73% Reference Rate and Spread SOFR + 9.75%, 5.25% PIK Floor 3.25% Maturity 06/30/272025-12-310001372807Investments in Affiliate Portfolio Companies Common Stock and Membership Units Burgaflex Holdings, LLC - Class A Automobile Components2026-03-310001372807Call option, HDNet Holdco LLC2025-12-310001372807us-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001372807bcic:MediaMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMembersrt:MinimumMemberbcic:MeasurementInputEBITDAMemberus-gaap:EquitySecuritiesMember2025-12-310001372807bcic:FirstLienDebtMember2024-12-310001372807us-gaap:EquitySecuritiesMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberus-gaap:CollateralizedLoanObligationsMembersrt:MinimumMemberbcic:MeasurementInputRecoveryPercentageMember2025-12-310001372807Investments in Affiliate Portfolio Companies First Lien/Senior Secured Debt American Clinical Solutions, LLC Health Care Providers & Services Interest Rate 10.67% Reference Rate and Spread SOFR + 7.00%, 3.67% PIK Floor 1.00% Maturity 06/30/262026-03-310001372807us-gaap:InvestmentAffiliatedIssuerControlledMemberbcic:JointVenturesMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberbcic:MeasurementInputExpectedTakeoutPriceMemberus-gaap:EquitySecuritiesMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Second Lien/Senior Secured Debt VTX Intermediate Holdings, Inc. IT Services Interest Rate 12.50% PIK Maturity 12/12/302026-03-310001372807Non-controlled affiliated investments GreenPark Infrastructure, LLC - Series A Type of Investment Preferred Stock and Units Industry Classification Commercial Services & Supplies2025-01-012025-12-310001372807bcic:HouseholdProductsMember2026-03-310001372807us-gaap:CallOptionMember2025-12-310001372807bcic:SecondLienDebtMember2025-03-310001372807us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2026-01-012026-03-310001372807Non-controlled affiliated investments Princeton Medspa Partners, LLC - Warrant Type of Investment Common Stock and Membership Units Industry Classification Diversified Consumer Services2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt HDC/HW Intermediate Holdings, LLC - Term Loan A Software Interest Rate 9.01% Reference Rate and Spread SOFR + 3.50%, 2.50% PIK Floor 5.25% Maturity 06/22/262026-03-310001372807us-gaap:RevolvingCreditFacilityMember2022-06-300001372807bcic:FiscalTwoThousandTwentyFiveMemberbcic:TwoThousandTwentyEightNotesMember2026-03-310001372807bcic:DerivativesMemberus-gaap:InvestmentAffiliatedIssuerMember2025-12-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPriceVolatilityMembersrt:MinimumMemberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2026-03-310001372807bcic:ShepherdParentHoldingsLLCRevolverMemberbcic:FirstLienDebtMember2025-12-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2026-03-310001372807bcic:SecondLienDebtMember2026-03-310001372807Investments in Affiliate Portfolio Companies Collateralized Loan Obligations JMP Credit Advisors CLO V LTD CLO Fund Securities Maturity 07/17/302025-12-310001372807Investments in Affiliate Portfolio Companies Preferred Stock and Units Northeast Metal Works LLC - Class O Preferred Metals & Mining2026-03-310001372807us-gaap:DerivativeMember2024-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:FirstLienDebtMemberus-gaap:IncomeApproachValuationTechniqueMember2026-03-310001372807Investments in Affiliate Portfolio Companies First Lien/Senior Secured Debt Datalink, LLC (Revolver) Health Care Technology Maturity 02/05/332026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberus-gaap:CollateralizedLoanObligationsMembersrt:MaximumMemberbcic:MeasurementInputRecoveryPercentageMember2025-12-310001372807bcic:PMPOPCOLLCPrincetonMedspaPartnersLLCMemberbcic:FirstLienDebtMember2026-03-310001372807Non-controlled affiliated investments PMP OPCO, LLC (Princeton Medspa Partners, LLC) Type of Investment First Lien/Senior Secured Debt Industry Classification Diversified Consumer Services2024-12-310001372807Non-controlled affiliated investments Princeton Medspa Partners, LLC - Warrant Type of Investment Common Stock and Membership Units Industry Classification Diversified Consumer Services2024-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Second Lien/Senior Secured Debt American Academy Holdings, LLC Health Care Providers & Services Interest Rate 14.50% PIK Maturity 03/01/282026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Synamedia Americas Holdings, Inc. Interactive Media & Services Interest Rate 9.67% Reference Rate and Spread SOFR + 6.00% Floor 1.00% Maturity 12/05/282026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Preferred Stock and Units BMP Slappey Investment II Diversified Telecommunication Services2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Second Lien/Senior Secured Debt Dcert Buyer, Inc. Software Interest Rate 10.72% Reference Rate and Spread SOFR + 7.00% Maturity 02/16/292025-12-310001372807us-gaap:RevolvingCreditFacilityMemberbcic:FiscalTwoThousandTwentyThreeMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:DecemberThirtyOneTwoThousandTwentyFiveMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt VTX Intermediate Holdings, Inc. IT Services Interest Rate 11.98% Reference Rate and Spread SOFR + 8.00%, 1.00% PIK Floor 2.00% Maturity 12/12/292025-12-310001372807US-GAAP Investment, Identifier [Axis] > Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Centric Brands Inc. Textiles, Apparel & Luxury Goods Interest Rate 9.39% Reference Rate and Spread SOFR + 5.50% Floor 1.00% Maturity 08/06/292025-12-310001372807bcic:MeasurementInputRequiredRateOfReturnMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberus-gaap:SubordinatedDebtMemberus-gaap:IncomeApproachValuationTechniqueMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien /Senior Secured Debt Metrc Inc. (Revolver) Software Reference Rate and Spread SOFR + 5.50% Floor 1.00% Maturity 09/30/312026-03-310001372807us-gaap:InvestmentAffiliatedIssuerControlledMember2025-01-012025-03-310001372807bcic:MeasurementInputRequiredRateOfReturnMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberbcic:FirstLienDebtMemberus-gaap:IncomeApproachValuationTechniqueMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Centric Brands Inc. (Term Loan A2) Textiles, Apparel & Luxury Goods Interest Rate 12.67% Reference Rate and Spread SOFR + 9.00%, 11.67% PIK Floor 1.00% Maturity 02/06/312026-03-310001372807Non-controlled affiliated investments HR Pharmaceuticals, LLC (Revolver) Type of Investment First Lien Debt Industry Classification Health Care Equipment & Supplies2026-03-310001372807bcic:TwoThousandTwentyEightAndTwoThousandThirtyMember2025-10-150001372807Non-controlled affiliated investments Westshore Ram, LLC Type of Investment Preferred Stock and Units Industry Classification Financial Services2026-03-310001372807us-gaap:SubordinatedDebtMemberbcic:AccountingStandardUpdate201104Member2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt CB MIDCO, LLC Diversified Consumer Services Maturity 09/28/272026-03-310001372807bcic:JointVenturesMemberbcic:AccountingStandardUpdate201104Memberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Preferred Stock and Units Taylor Precision Products, Inc. - Series C Household Products2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMembersrt:WeightedAverageMemberbcic:MeasurementInputAverageEbitdaMultipleMemberus-gaap:EquitySecuritiesMember2025-12-310001372807bcic:FirstLienDebtMemberbcic:NewburyFranklinIndustrialsLLCMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Epic Staffing Group Professional Services Interest Rate 9.73% Reference Rate and Spread SOFR + 6.00% Floor 0.50% Maturity 06/28/292025-12-310001372807us-gaap:PreferredStockMemberus-gaap:InvestmentUnaffiliatedIssuerMember2026-03-310001372807us-gaap:CollateralizedMortgageObligationsMemberus-gaap:InvestmentAffiliatedIssuerMember2026-03-310001372807bcic:FirstLienDebtMemberbcic:MoraeGlobalCorporationOneMember2026-03-310001372807Non Controlled Affiliated Investments [Member]2026-03-310001372807bcic:SixPointOneTwoFiveNotesDue2022Member2017-08-142017-12-310001372807bcic:MeasurementInputRequiredRateOfReturnMemberus-gaap:FairValueInputsLevel3Memberbcic:FirstLienDebtMembersrt:MinimumMemberus-gaap:IncomeApproachValuationTechniqueMember2025-12-310001372807bcic:TwoThousandAndTwentyFiveStockRepurchaseProgramMember2025-01-012025-03-310001372807Non-controlled affiliated investments PMP OPCO, LLC (Princeton Medspa Partners, LLC) (Revolver) Type of Investment First Lien/Senior Secured Debt Industry Classification Diversified Consumer Service2026-01-012026-03-310001372807Non-controlled affiliated investments Westshore Ram, LLC Type of Investment Preferred Stock and Units Industry Classification Financial Services2026-01-012026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:MarchThirtyOneTwoThousandTwentySixMemberbcic:TwoThousandAndTwentyNineNotesMember2026-03-310001372807bcic:TwoThousandAndTwentySixNotesMember2026-03-310001372807Non-controlled affiliated investments MMI Holdings, LLC Type of Investment Second Lien/Senior Secured Debt Industry Classification Health Care Equipment & Services2025-12-310001372807bcic:OilGasAndConsumableFuelsMember2025-12-310001372807bcic:InvestmentsForFederalIncomeTaxPurposeMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Preferred Stock and Units Middle West Spirits, LLC Beverages Interest Rate 10.00% PIK2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt GP Midco, LLC (Beauty by Imagination) Personal Care Products Interest Rate 8.90% Reference Rate and Spread SOFR + 5.00% Maturity 11/01/302025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt AMCP Pet Holdings, Inc. Consumer Staples Distribution & Retail Interest Rate 10.82% Reference Rate and Spread SOFR + 7.00%, 3.00% PIK Floor 1.00% Maturity 01/04/282026-03-310001372807Non Controlled Affiliated Investments [Member]2024-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Second Lien/Senior Secured Debt American Academy Holdings, LLC Health Care Providers & Services Interest Rate 14.50% PIK Maturity 03/01/282025-12-310001372807us-gaap:RevolvingCreditFacilityMemberbcic:FiscalTwoThousandTwentyOneMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:JointVenturesMemberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:MeasurementInputDefaultRateMember2025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt HDC/HW Intermediate Holdings, LLC - Term Loan B Software Maturity 06/21/262025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Ivanti Software, Inc. Software Interest Rate 8.41% Reference Rate and Spread SOFR + 4.75% Floor 0.75% Maturity 06/01/292026-03-310001372807Non-controlled affiliated investments Datalink, LLC Type of Investment First Lien Debt Industry Classification Health Care Technology2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Keg Logistics LLC Diversified Consumer Services Interest Rate 10.73% Reference Rate and Spread SOFR + 6.75%, 0.50% PIK Floor 1.00% Maturity 10/06/262025-12-310001372807Investments in Affiliate Portfolio Companies Preferred Stock and Units Princeton Medspa Partners, LLC Diversified Consumer Services Interest Rate 12.50% PIK2026-03-310001372807bcic:FirstLienDebtMemberbcic:HRPharmaceuticalsLLCMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt VBC Spine Opco LLC (DxTx Pain and Spine LLC) Health Care Providers & Services Interest Rate 10.30% Reference Rate and Spread SOFR + 6.50% Floor 2.00% Maturity 06/14/292026-03-310001372807Controlled investments KCAP Freedom 3, LLC Type of Investment Joint Ventures Industry Classification Joint Venture2026-01-012026-03-310001372807bcic:FiscalTwoThousandFifteenMemberbcic:SevenPointThreeSevenFiveNotesDueTwoThousandNineteenMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Anthem Sports & Entertainment Inc. - Class A Warrant Media2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Morae Global Corporation (Term Loan B) IT Services Interest Rate 11.81% Reference Rate and Spread SOFR + 8.00% Floor 2.00% Maturity 10/31/282026-03-310001372807Investments in Affiliate Portfolio Companies Derivatives Princeton Medspa Partners, LLC Diversified Consumer Services2025-12-310001372807bcic:BroadlineRetailMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:BookValueMultipleMemberbcic:EnterpriseValueValuationTechniqueMembersrt:MinimumMemberus-gaap:EquitySecuritiesMember2026-03-310001372807Non-controlled affiliated investments V12 Holdings, Inc. Type of Investment Second Lien/Senior Secured Debt Industry Classification Software2025-01-012025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt One Stop Mailing LLC Ground Transportation Interest Rate 10.08% Reference Rate and Spread SOFR + 6.25% Floor 1.00% Maturity 04/29/272025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Validity, Inc. Software Interest Rate 8.90% Reference Rate and Spread SOFR + 5.25% Floor 0.50% Maturity 04/12/322026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units Freedom Electronics, LLC Electronic Equipment, Instruments & Components2026-03-310001372807Non-controlled affiliated investments Phoenix Aviation Capital, LLC Type of Investment Common Stock and Membership Units Industry Classification Aerospace & Defense2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien /Senior Secured Debt Live Comfortably Inc. Term Loan B Household Durables Interest Rate 13.78% Reference Rate and Spread SOFR + 10.00%, 2.00% PIK Floor 3.00% Maturity 04/02/292026-03-310001372807bcic:SeriesBGreatLakesFundingIILlcMember2026-03-310001372807bcic:JointVentureIndustryMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Common Stock and Membership Units FP WRCA Coinvestment Fund VII, Ltd. - Class A Building Products2025-12-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:SubordinatedDebtMemberbcic:AccountingStandardUpdate201104Member2026-03-310001372807Investments in Affiliate Portfolio Companies First Lien/Senior Secured Debt PMP OPCO, LLC (Princeton Medspa Partners, LLC) Diversified Consumer Services Interest Rate 12.59% Reference Rate and Spread SOFR + 8.50% Floor 2.00% Maturity 05/31/292025-12-310001372807Non Controlled Affiliated and Controlled Investments [Member]2025-12-310001372807bcic:HcapAcquisitionMemberus-gaap:CommonStockMember2021-06-090001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt CCMG Buyer, LLC (Care Connectors Medical Group) (Revolver) Health Care Providers & Services Reference Rate and Spread SOFR + 4.75% Floor 1.00% Maturity 05/08/302026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Florida Food Products, LLC First Lien, Term Loan B Food Products Interest Rate 9.43% Reference Rate and Spread SOFR + 5.50% Floor 2.00% Maturity 10/15/302025-12-310001372807bcic:KeyBankCreditFacilityMember2025-12-310001372807bcic:EnergyEquipmentAndServicesMember2026-03-310001372807Investments in Affiliate Portfolio Companies Common Stock and Membership Units MMI Holdings, LLC Health Care Providers & Services2025-12-310001372807Non-controlled affiliated investments Riddell, Inc. Type of Investment First Lien/Senior Secured Debt Industry Classification Leisure Products2025-01-012025-12-310001372807Debt Securitiessrt:MinimumMember2025-12-310001372807us-gaap:AdditionalPaidInCapitalMember2025-12-310001372807bcic:AtpOilAndGasCorporationMember2026-03-310001372807bcic:FivePointTwoFiveNotesDue2026Member2026-03-270001372807Investments in Non-Control, Non-Affiliate Portfolio Companies Preferred Stock and Units Middle West Spirits, LLC Beverages Interest Rate 10.00% PIK2026-03-310001372807us-gaap:FairValueInputsLevel3Memberbcic:EnterpriseValueValuationTechniqueMemberus-gaap:EquitySecuritiesMemberbcic:MeasurementInputMultipleOnInvestedCapitalMember2026-03-310001372807US-GAAP Investment, Identifier [Axis] > Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt CCMG Buyer, LLC (Care Connectors Medical Group) (Revolver) Health Care Providers & Services Reference Rate and Spread SOFR + 4.75% Floor 1.00% Maturity 05/08/302025-12-310001372807bcic:F3CJointVentureMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Taoglas USA Holdings Inc. Electronic Equipment, Instruments & Components Interest Rate 10.92% Reference Rate and Spread SOFR + 7.25% Floor 1.00% Maturity 02/28/292025-12-310001372807bcic:AssetManagerSubsidiariesMember2018-11-082018-11-080001372807bcic:ElectricalEquipmentMember2026-03-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien /Senior Secured Debt Morae Global Corporation (Revolver) IT Services Interest Rate 12.04% Reference Rate and Spread SOFR + 8.00% Floor 2.00% Maturity 10/31/282025-12-310001372807Investments in Non-Control, Non-Affiliate Portfolio Companies First Lien/Senior Secured Debt Ivanti Software, Inc. - NewCo Software Interest Rate 9.41% Reference Rate and Spread SOFR + 5.75% Floor 2.00% Maturity 06/01/292026-03-310001372807Non-controlled affiliated investments Burgaflex Holdings, LLC Type of Investment Common Stock and Membership Units Industry Classification Automobile Components2025-12-310001372807us-gaap:FairValueInputsLevel3Memberbcic:FirstLienDebtMemberbcic:AccountingStandardUpdate201104Member2025-12-310001372807bcic:CommercialServicesAndSuppliesMember2026-03-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberbcic:SecondLienDebtMember2026-03-310001372807Non-controlled affiliated investments PMP OPCO, LLC (Princeton Medspa Partners, LLC) Type of Investment First Lien/Senior Secured Debt Industry Classification Diversified Consumer Services2025-12-310001372807us-gaap:FairValueInputsLevel3Memberus-gaap:SubordinatedDebtMemberus-gaap:IncomeApproachValuationTechniqueMember2025-12-310001372807Non-controlled affiliated investments Datalink, LLC Type of Investment First Lien Debt Industry Classification Health Care Technology2026-01-012026-03-31bcic:Industryxbrli:pureiso4217:USDxbrli:sharesbcic:NumberOfSharesxbrli:sharesbcic:DebtInvestmentbcic:Segmentbcic:Portfolioiso4217:USDbcic:InvesteeCompanybcic:Member

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

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

For the quarterly period ended March 31, 2026

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

For the transition period from to

Commission File No. 814-00735

BCP Investment Corporation

(Exact name of Registrant as specified in its charter)

     Delaware

     20-5951150

     (State or other jurisdiction of
Incorporation or organization)

     (I.R.S. Employer
Identification Number)

650 Madison Avenue, 3rd Floor

New York, New York 10022

(Address of principal executive offices)

(212) 891-2880

(Registrant’s telephone number, including area code)

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	BCIC	The 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 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days: Yes  No 

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

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See 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	☐	Accelerated filer	☐
Non-accelerated filer	☒	Smaller reporting company	☐
Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. 

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

The number of outstanding shares of common stock of the registrant as of May 4, 2026 was 12,377,481.

TABLE OF CONTENTS


		Page

	Part I. Financial Information

Item 1.	Financial Statements	4

	Consolidated Statements of Assets and Liabilities as of March 31, 2026 (unaudited) and December 31, 2025	4

	Consolidated Statements of Operations for the three months ended March 31, 2026 and 2025 (unaudited)	5

	Consolidated Statements of Changes in Net Assets for the three months ended March 31, 2026 and 2025 (unaudited)	6

	Consolidated Statements of Cash Flows for the three months ended March 31, 2026 and 2025 (unaudited)	7

	Consolidated Schedules of Investments as of March 31, 2026 (unaudited) and December 31, 2025	8

	Consolidated Financial Highlights for the three months ended March 31, 2026 and 2025 (unaudited)	18

	Notes to Consolidated Financial Statements as of and for the period ended March 31, 2026 (unaudited)	19

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	50

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	65

Item 4.	Controls and Procedures	65

	Part II. Other Information

Item 1.	Legal Proceedings	67

Item 1A.	Risk Factors	67

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	68

Item 3.	Defaults Upon Senior Securities	68

Item 4.	Mine Safety Disclosures	68

Item 5.	Other Information	68

Item 6.	Exhibits	68

Signatures		70

NOTE ABOUT REFERENCES TO BCP INVESTMENT CORPORATION

In this Quarterly Report on Form 10-Q, the “Company”, “BCIC”, “we”, “us” and “our” refer to BCP Investment Corporation and its wholly-owned subsidiaries, unless the context otherwise requires.

CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS

The information contained in this item should be read in conjunction with our consolidated financial statements and notes thereto appearing elsewhere in this Quarterly Report and in conjunction with the financial statements and notes thereto in the Company’s Form 10-K for the year ended December 31, 2025, as filed with the U.S. Securities and Exchange Commission (the “Commission” or the “SEC”). In addition, some of the statements in this report constitute forward-looking statements. The matters discussed in this Quarterly Report, as well as in future oral and written statements by the Company, that are forward-looking statements are based on current management expectations that involve substantial risks and uncertainties which could cause actual results to differ materially from the results expressed in, or implied by, these forward-looking statements. Forward-looking statements relate to future events or our future financial performance. We generally identify forward-looking statements by terminology such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “outlook,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these terms or other similar words, although not all forward-looking statements include these words. Important assumptions include our ability to originate new investments, achieve certain margins and levels of profitability, the availability of additional capital, our ability to successfully and profitably integrate acquired assets and companies, and the ability to maintain certain debt to asset ratios. In light of these and other uncertainties, the inclusion of a projection or forward-looking statement in this Quarterly Report should not be regarded as a representation by us that our plans or objectives will be achieved. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including without limitation:

•

our future operating results;

•

our business prospects and the prospects of our existing and prospective portfolio companies;

•

the return or impact of current and future investments;

•

our contractual arrangements and other relationships with third parties;

•

the dependence of our future success on the general economy and its impact on the industries in which we invest;

•

the financial condition and ability of our existing and prospective portfolio companies to achieve their objectives;

•

our expected financings and investments;

•

our ability to operate as a business development company under the Investment Company Act of 1940 and a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, including the impact of changes in laws or regulations governing our operations or the operations of our portfolio companies;

•

the adequacy of our available liquidity, cash resources and working capital;

•

the timing of cash flows, if any, from the operations of our portfolio companies;

•

the ability of Sierra Crest Investment Management LLC (the “Adviser”) to locate suitable investments for us to monitor and administer our investments;

•

the ability of the Adviser to attract and retain highly talented professionals;

•

actual and potential conflicts of interest with the Adviser and its affiliates;

•

the effect of legal, tax, and regulatory changes on us and our portfolio companies;

•

the impact of a protracted decline in the liquidity of credit markets on our business;

•

the impact of fluctuations in interest rates on our business;

•

the valuation of our investments in portfolio companies, particularly those having no liquid trading market;

•

our ability to recover unrealized losses;

•

market conditions and our ability to access additional capital;

•

an economic downturn could have a material adverse effect on our portfolio companies’ results of operations and financial condition, which could lead to a loss on some or all of our investments in such portfolio companies and have a material adverse effect on our results of operations and financial condition;

•

the timing, form and amount of any dividend distributions; and

•

risks related to certain mergers diverting management’s attention from ongoing business operations.

For a more detailed discussion of factors that could cause our actual results to differ from forward-looking statements contained in this Quarterly Report, please see the discussion in Part II, “Item 1A. Risk Factors” of this Quarterly Report, and in Part I, “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025. You should not place undue reliance on these forward-looking statements. The forward-looking statements made in this Quarterly Report relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date this Quarterly Report is filed with the SEC.

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

BCP INVESTMENT CORPORATION

CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES

(in thousands, except share and per share amounts)


	March 31, 2026			December 31, 2025
	(Unaudited)
ASSETS
Investments at fair value:
Non-controlled/non-affiliated investments (amortized cost of $414,774 and $433,213, respectively)	$	380,573		$	409,735
Non-controlled affiliated investments (amortized cost of $99,398 and $90,294, respectively)		87,371			80,585
Controlled affiliated investments (amortized cost of $42,218 and $42,332, respectively)		8,944			10,655
Total Investments at fair value (amortized cost of $556,390 and $565,839, respectively)	$	476,888		$	500,975
Cash and cash equivalents		51,824			3,721
Restricted cash		6,209			8,782
Interest receivable		3,791			5,793
Receivable for unsettled trades		1,570			—
Dividend receivable		803			845
Other assets		2,828			3,525
Total Assets	$	543,913		$	523,641
LIABILITIES
2026 Notes (net of deferred financing costs and original issue discount of $217 and $312, respectively)	$	49,783		$	49,688
2028 Notes (net of deferred financing costs and original issue discount of $782 and $851, respectively)		34,218			34,149
2029 Notes (net of deferred financing costs of $881 and $—, respectively)		49,119			—
2030 Notes (net of deferred financing costs and original issue discount of $2,318 and $2,423, respectively)		72,682			72,577
2032 Convertible Notes (net of deferred financing costs and original issue discount of $99 and $102, respectively)		1,901			1,898
Great Lakes Portman Ridge Funding LLC Revolving Credit Facility (net of deferred financing costs of $700 and $825, respectively)		79,309			106,804
KeyBank Credit Facility (net of deferred financing costs of $843 and $904, respectively)		49,391			41,765
Management and incentive fees payable		4,443			1,865
Accounts payable, accrued expenses and other liabilities		3,653			1,714
Accrued interest payable		6,409			4,025
Total Liabilities	$	350,908		$	314,485
COMMITMENTS AND CONTINGENCIES (NOTE 8)
NET ASSETS
Common stock, par value $0.01 per share, 20,000,000 common shares authorized; 14,009,104 issued, and 12,375,787 outstanding as of March 31, 2026, and 14,003,016 issued, and 12,541,858 outstanding as of December 31, 2025	$	124		$	125
Capital in excess of par value		809,092			811,111
Total distributable (loss) earnings		(616,211	)		(602,080	)
Total Net Assets	$	193,005		$	209,156
Total Liabilities and Net Assets	$	543,913		$	523,641
Net Asset Value Per Common Share	$	15.60		$	16.68

See accompanying notes to unaudited consolidated financial statements.

BCP INVESTMENT CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except share and per share amounts)

(Unaudited)


	For the Three Months Ended March 31,
	2026			2025
INVESTMENT INCOME
Interest income:
Non-controlled/non-affiliated investments	$	11,344		$	7,300
Non-controlled affiliated investments		1,474			316
Total interest income		12,818			7,616
Payment-in-kind income:
Non-controlled/non-affiliated investments(1)		3,129			2,853
Non-controlled affiliated investments		293			208
Total payment-in-kind income		3,422			3,061
Dividend income:
Non-controlled affiliated investments		1,047			1,417
Total dividend income		1,047			1,417
Fees and other income:
Non-controlled/non-affiliated investments		237			24
Non-controlled affiliated investments		74			—
Total fees and other income		311			24
Total investment income	$	17,598		$	12,118
EXPENSES
Management fees		1,705			1,466
Performance-based incentive fees		873			920
Interest and amortization of debt issuance costs		5,837			4,298
Professional fees		913			452
Administrative services expense		543			411
Directors’ expense		123			144
Other general and administrative expenses		714			87
Total expenses	$	10,708		$	7,778
NET INVESTMENT INCOME	$	6,890		$	4,340
REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS:
Net realized gains (losses) from investment transactions
Non-controlled/non-affiliated investments	$	(2,022	)	$	(81	)
Non-controlled affiliated investments		—			(92	)
Net realized gain (loss) on investments		(2,022	)		(173	)
Net change in unrealized appreciation (depreciation) on:
Non-controlled/non-affiliated investments		(10,738	)		(1,501	)
Non-controlled affiliated investments		(2,318	)		(1,140	)
Controlled affiliated investments		(1,597	)		(1,274	)
Derivatives		15			12
Net change in unrealized gain (loss) on investments		(14,638	)		(3,903	)
Tax (provision) benefit on realized and unrealized (gains) losses on investments		(403	)		(346	)
Net realized and unrealized appreciation (depreciation) on investments, net of taxes		(17,063	)		(4,422	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(10,173	)	$	(82	)
Net Increase (Decrease) In Net Assets Resulting from Operations per Common Share:
Basic and Diluted:	$	(0.82	)	$	(0.01	)
Net Investment Income Per Common Share:
Basic and Diluted:	$	0.55		$	0.47
Weighted Average Shares of Common Stock Outstanding — Basic and Diluted		12,435,534			9,198,223

(1)

During the three months ended March 31, 2026 and 2025, the Company received $0.6 million and $0.2 million, respectively, of non-recurring fee income that was paid in-kind and included in this financial statement line item.

See accompanying notes to unaudited consolidated financial statements.

BCP INVESTMENT CORPORATION

CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS(1)

(in thousands, except share and per share amounts)

(Unaudited)


	For the Three Months Ended March 31,
	2026			2025
Operations:
Net investment income	$	6,890		$	4,340
Net realized gain (loss) on investments		(2,022	)		(173	)
Net change in unrealized appreciation (depreciation) on investments		(14,638	)		(3,903	)
Tax (provision) benefit on realized and unrealized gains (losses) on investments		(403	)		(346	)
Net increase (decrease) in net assets resulting from operations	$	(10,173	)	$	(82	)

Stockholder distributions:
Distributions declared	$	(3,958	)	$	(4,967	)
Net decrease in net assets resulting from stockholder distributions	$	(3,958	)	$	(4,967	)

Capital share transactions:
Issuance of common stock for:
Stock issued under dividend reinvestment plan	$	44		$	67
Stock repurchases		(2,064	)		—
Net increase (decrease) in net assets resulting from capital share transactions	$	(2,020	)	$	67

Net assets at beginning of period	$	209,156		$	178,493
Net assets at end of period	$	193,005		$	173,511
Net asset value per common share	$	15.60		$	18.85
Common shares outstanding at end of period		12,375,787			9,202,870

(1)

Refer to Note 9 — “Stockholders’ Equity” of our notes to the consolidated financial statements for additional information on changes in components of Stockholders’ Equity.

See accompanying notes to unaudited consolidated financial statements.

BCP INVESTMENT CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands, except share and per share amounts)

(Unaudited)


	For the Three Months Ended March 31,
	2026			2025
OPERATING ACTIVITIES:
Net increase (decrease) in net assets resulting from operations	$	(10,173	)	$	(82	)
Adjustments to reconcile net increase (decrease) in stockholders’ equity resulting from operations to net cash (used in) provided by operations:
Net realized (gains) losses on investment transactions		2,022			173
Net change in unrealized (appreciation) depreciation from investments		14,638			3,903
Tax provision (benefit) on realized and unrealized gains (losses) on investments		403			346
Purchases of investments		(13,257	)		(17,504	)
Proceeds from sales and redemptions of investments		28,322			15,660
Net accretion of investments		(4,148	)		(777	)
Amortization of debt issuance costs		463			309
Payment-in-kind interest income		(3,490	)		(2,857	)
Change in operating assets and liabilities:
(Increase) decrease in receivable for unsettled trades		(1,570	)		—
(Increase) decrease in interest receivable		2,002			1,301
(Increase) decrease in dividend receivable		42			120
(Increase) decrease in other assets		294			(1,607	)
Increase (decrease) in accrued interest payable		2,384			988
Increase (decrease) in management and incentive fees payable		2,578			(327	)
Increase (decrease) in due to affiliates		—			(635	)
Increase (decrease) in accounts payable, accrued expenses and other liabilities		1,053			1,547
Net cash (used in) provided by operating activities	$	21,563		$	558
FINANCING ACTIVITIES:
Repurchases of common stock	$	(2,064	)	$	—
Distributions to stockholders		(3,914	)		(4,900	)
Repayment of Great Lakes Portman Ridge Funding LLC Revolving Credit Facility		(27,620	)		(12,100	)
Repayment of KeyBank Credit Facility		(3,935	)		—
Borrowings from KeyBank Credit Facility		11,500			—
Proceeds from issuance of 2029 Notes		50,000			—
Net cash (used in) provided by financing activities	$	23,967		$	(17,000	)
CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	$	45,530		$	(16,442	)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD		12,503			39,953
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	$	58,033		$	23,511
Amounts per statements of assets and liabilities:
Cash and cash equivalents	$	51,824		$	9,233
Restricted cash		6,209			14,278
Total Cash, Cash Equivalents and Restricted cash	$	58,033		$	23,511
Supplemental Information and non-cash activities:
Cash paid for interest during the period	$	2,991		$	3,001
Reinvestment of distributions	$	44		$	67

See accompanying notes to unaudited consolidated financial statements.

BCP INVESTMENT CORPORATION

CONSOLIDATED SCHEDULE OF INVESTMENTS

As of March 31, 2026

(in thousands, except share and per share amounts)

(Unaudited)


Investment (2), (4), (12), (14), (23), (24)	Industry	Interest Rate (1)	Reference Rate and Spread (1)	Floor (1)	Maturity	Par/Shares (++)		Cost			Fair Value			Footnotes
Investments in Non-Control, Non-Affiliate Portfolio Companies - 197.2%
First Lien/Senior Secured Debt - 153.2%
13 Scents Inc.	Personal Care Products	10.45%	SOFR + 6.75%	1.00%	03/31/31		4,000	$	3,920		$	3,920		(13)
13 Scents Inc. (Revolver)	Personal Care Products	—	SOFR + 6.75%	1.00%	03/31/31	—			(11	)		(11	)	(15)(20)
Accurate Background, LLC	IT Services	9.96%	SOFR + 6.00%	1.00%	03/26/29		8,621		8,046			8,617		(13)
Advantage Capital Holdings LLC	Financial Services	13.00%	13.00%, 5.00% PIK	—	04/14/27		15,298		15,298			14,973
AIDC IntermediateCo 2, LLC (Peak Technologies)	IT Services	8.92%	SOFR + 5.25%	1.00%	07/22/27		5,805		5,389			5,760		(13)
AMCP Pet Holdings, Inc.	Consumer Staples Distribution & Retail	10.82%	SOFR + 7.00%, 3.00% PIK	1.00%	01/04/28		4,839		4,825			3,617		(13)
AMCP Pet Holdings, Inc. (Revolver)	Consumer Staples Distribution & Retail	10.82%	SOFR + 4.15%, 0.15% PIK	1.00%	01/04/28		1,053		1,051			787
American Academy Holdings, LLC	Health Care Providers & Services	13.53%	SOFR + 9.75%, 5.25% PIK	3.25%	06/30/27		7,003		6,879			7,406		(13)
Ancile Solutions, Inc.	Software	13.94%	SOFR + 10.00%	1.00%	06/11/26		5,707		5,702			5,839		(13)
Anthem Sports & Entertainment Inc. (2025 Delayed Draw Term Loan)	Media	9.46%	SOFR + 9.46%, 9.46% PIK	1.00%	11/15/27		1,412		1,412			1,412
Anthem Sports & Entertainment Inc. (Hollywood Suites Delayed Draw Term Loan)	Media	9.46%	SOFR + 9.46%, 9.46% PIK	1.00%	11/15/27		4,379		4,379			4,379
Anthem Sports & Entertainment Inc. (Term Loan B)	Media	10.00% PIK	—	—	11/15/27		9,510		9,510			7,062
Anthem Sports & Entertainment Inc. (Term Loan C)	Media	—	—	—	11/15/27		8,805		935		—			(5)
Appfire Technologies, LLC	Software	8.45%	SOFR + 4.75%	1.00%	03/09/28		5,756		5,753			5,756		(13)
BetaNXT, Inc.	Financial Services	9.45%	SOFR + 5.75%	—	07/02/29		12,803		12,218			12,433		(13)
BetaNXT, Inc. (Revolver)	Financial Services	—	SOFR + 5.75%	—	04/02/29	—			(35	)		(83	)	(15)(20)
Bradshaw International Parent Corp.	Specialty Retail	9.52%	SOFR + 5.75%	1.00%	10/21/27		969		919			951		(13)
Bradshaw International Parent Corp. (Revolver)	Specialty Retail	—	SOFR + 5.75%	1.00%	10/21/26	—			(9	)		(34	)	(15)(20)
CB MIDCO, LLC	Diversified Consumer Services	—	—	—	09/28/27		4,110		3,798			175		(5)(13)
CCMG Buyer, LLC (Care Connectors Medical Group)	Health Care Providers & Services	8.42%	SOFR + 4.75%	1.00%	05/08/30		3,111		3,085			3,111		(13)
CCMG Buyer, LLC (Care Connectors Medical Group) (Revolver)	Health Care Providers & Services	—	SOFR + 4.75%	1.00%	05/08/30	—			(4	)	—			(15)(20)
Centric Brands Inc.	Textiles, Apparel & Luxury Goods	9.17%	SOFR + 5.50%	1.00%	08/06/29		3,689		3,689			3,690		(13)
Centric Brands Inc. (Term Loan A1)	Textiles, Apparel & Luxury Goods	10.17%	SOFR + 6.50%	1.00%	02/06/31		2,424		2,424			2,424		(13)
Centric Brands Inc. (Term Loan A2)	Textiles, Apparel & Luxury Goods	12.67%	SOFR + 9.00%, 11.67% PIK	1.00%	02/06/31		4,036		4,036			4,036
Colonnade Intermediate, LLC	Software	—	—	—	09/30/26		8,325		7,650			5,149		(5)
Colonnade Intermediate, LLC (Revolver)	Software	—	—	—	09/30/26		685		685			424		(5)
Dentive, LLC	Health Care Providers & Services	10.95%	SOFR + 7.25%, 4.25% PIK	0.75%	12/22/28		4,701		4,464			4,533		(13)
Dentive, LLC (Revolver)	Health Care Providers & Services	10.95%	SOFR + 7.25%, 4.25% PIK	0.75%	12/22/28		8		(3	)	—			(15)(20)
Dodge Data & Analytics LLC	Professional Services	10.05%	SOFR + 6.25%	0.50%	01/31/29		651		646			647		(13)
Dodge Data & Analytics LLC (Second Out)	Professional Services	8.55%	SOFR + 4.75%	0.50%	02/28/29		903		805			680		(13)
Epic Staffing Group	Professional Services	9.73%	SOFR + 6.00%	0.50%	06/28/29		4,823		3,995			3,950		(13)
Florida Food Products, LLC First Lien, Term Loan A	Food Products	9.15%	SOFR + 5.50%	2.00%	10/15/30		2,022		1,985			2,000		(13)
Florida Food Products, LLC First Lien, Term Loan B	Food Products	9.15%	SOFR + 5.50%	2.00%	10/15/30		1,265		1,242			1,252		(13)
Florida Food Products, LLC First Lien, Term Loan C	Food Products	9.15%	SOFR + 5.50%	2.00%	10/15/30		717		704			709		(13)
Global Integrated Flooring Systems Inc.	Household Products	12.66%	SOFR + 9.00%, 6.00% PIK	2.00%	12/31/26		6,529		5,829			4,726
Global Integrated Flooring Systems Inc. (Revolver)	Household Products	12.67%	SOFR + 9.00%, 6.00% PIK	2.00%	12/31/26		54		47			39
GP Midco, LLC (Beauty by Imagination)	Personal Care Products	8.66%	SOFR + 5.00%	—	11/01/30		3,950		3,514			3,939		(13)
HDC/HW Intermediate Holdings, LLC - Term Loan A	Software	9.01%	SOFR + 3.50%, 2.50% PIK	5.25%	06/22/26		6,518		6,420			3,715
HDC/HW Intermediate Holdings, LLC - Term Loan B	Software	—	—	—	06/22/26		3,849		764		—			(5)
Help Systems Holdings, Inc.	Technology Hardware, Storage & Peripherals	9.76%	SOFR + 6.00%	2.00%	05/21/29		1,436		1,407			1,242		(13)
IDC Infusion Services LLC	Health Care Providers & Services	8.70%	SOFR + 5.00%	1.00%	07/09/29		6,851		6,556			6,869		(13)
Ivanti Software, Inc.	Software	8.41%	SOFR + 4.75%	0.75%	06/01/29		992		903			673		(13)
Ivanti Software, Inc. - NewCo	Software	9.41%	SOFR + 5.75%	2.00%	06/01/29		733		695			733		(13)
Keg Logistics LLC	Diversified Consumer Services	10.58%	SOFR + 6.75%, 4.75% PIK	1.00%	10/01/26		19,257		18,781			19,257		(13)
Keg Logistics LLC (Revolver)	Diversified Consumer Services	10.58%	SOFR + 6.75%	1.00%	10/01/26		1,744		1,650			1,744
Live Comfortably Inc.	Household Durables	13.78%	SOFR + 10.00%, 2.00% PIK	3.00%	09/20/27		55		55			-		(13)
Live Comfortably Inc. Term Loan B	Household Durables	13.78%	SOFR + 10.00%, 2.00% PIK	3.00%	04/02/29		7,175		6,894			6,882		(13)
MAG DS Corp.	Aerospace & Defense	9.30%	SOFR + 5.50%	1.00%	04/01/27		3,574		3,477			3,568		(13)
Metrc Inc.	Software	9.20%	SOFR + 5.50%	1.00%	09/30/31		2,354		2,235			2,292		(13)(20)
Metrc Inc. (Revolver)	Software	—	SOFR + 5.50%	1.00%	09/30/31	—			(55	)		(28	)	(15)(20)
Money Transfer Acquisition Inc.	Financial Services	12.02%	SOFR + 8.25%	1.00%	12/14/27		13,844		13,205			13,775		(13)
Morae Global Corporation (Revolver)	IT Services	11.81%	SOFR + 8.00%	2.00%	10/31/28		400		382			387		(20)
Morae Global Corporation (Term Loan A)	IT Services	11.82%	SOFR + 8.00%	2.00%	10/31/28		4,954		4,532			4,633		(13)(20)
Morae Global Corporation (Term Loan B)	IT Services	11.81%	SOFR + 8.00%	2.00%	10/31/28		2,785		2,551			2,715		(13)
MSM Acquisitions, Inc.	Software	9.67%	SOFR + 6.00%	1.00%	12/09/26		9,978		9,970			8,170		(13)
Netwrix Corporation	Software	8.17%	SOFR + 4.50%	0.75%	06/11/29		4,194		4,184			4,121		(13)
Netwrix Corporation (Revolver)	Software	—	SOFR + 4.50%	0.75%	06/11/29	—			(5	)		(20	)	(15)(20)
Newbury Franklin Industrials, LLC	Trading Companies & Distributors	10.62%	SOFR + 7.00%	2.00%	12/11/29		6,091		5,770			5,991		(13)(20)
One Stop Mailing LLC	Ground Transportation	10.03%	SOFR + 6.25%	1.00%	05/07/27		6,875		6,854			6,875		(13)
Orthopaedic (ITC) Buyer, LLC	Health Care Providers & Services	8.70%	SOFR + 5.00%	1.00%	07/31/28		2,304		2,099			2,304		(13)
PhyNet Dermatology LLC	Health Care Providers & Services	10.17%	SOFR + 6.50%	1.00%	10/20/29		1,825		1,755			1,784		(13)
PMA Parent Holdings LLC	Capital Markets	8.45%	SOFR + 4.75%	0.75%	01/31/31		2,796		2,616			2,771		(13)
PMA Parent Holdings LLC (Revolver)	Capital Markets	—	SOFR + 4.75%	0.75%	01/31/31	—			(2	)		(2	)	(15)(20)

See accompanying notes to unaudited consolidated financial statements.

BCP INVESTMENT CORPORATION

CONSOLIDATED SCHEDULE OF INVESTMENTS - CONTINUED

As of March 31, 2026

(in thousands, except share and per share amounts)

(Unaudited)


Investment (2), (4), (12), (14), (23), (24)	Industry	Interest Rate (1)	Reference Rate and Spread (1)	Floor (1)	Maturity	Par/Shares (++)		Cost			Fair Value		Footnotes
Pomeroy Technologies, LLC (Super Senior A)	Software	6.00% PIK	—	—	11/30/27		1,474	$	1,474		$	1,265
Premier Imaging, LLC	Health Care Equipment & Supplies	9.96%	SOFR + 6.00%	1.00%	10/31/27		5,612		5,434			4,887	(13)
Project Castle, Inc.	Machinery	9.36%	SOFR + 5.50%	0.50%	06/01/29		3,726		3,390			2,029	(13)
Project Leopard Holdings, Inc.	Software	9.02%	SOFR + 5.25%	0.50%	07/20/29		5,622		5,442			3,536	(13)
PVHC Holding Corp	Containers & Packaging	13.10%	SOFR + 9.25%, 2.75% PIK	2.50%	02/17/27		2,945		2,944			2,834	(13)
Radius Aerospace, Inc.	Aerospace & Defense	9.85%	SOFR + 6.00%, 0.25% PIK	1.00%	03/29/27		5,451		5,448			5,434	(13)
Red Range Intermediate Inc.	Industrial Conglomerates	11.76%	SOFR + 8.00%	1.00%	10/01/29		324		324			324
Resolute Investment Managers, Inc.	Capital Markets	10.46%	SOFR + 6.50%	1.00%	10/30/28		3,970		3,582			3,186	(13)
RN Enterprises, LLC	Health Care Technology	9.06%	SOFR + 5.25%	0.75%	10/17/31		2,600		2,311			2,592	(13)(20)
Shepherd Parent Holdings, LLC	Health Care Providers & Services	10.90%	SOFR + 7.25%	1.00%	07/10/30		1,694		1,545			1,694	(13)(20)
Shepherd Parent Holdings, LLC (Revolver)	Health Care Providers & Services	—	SOFR + 7.25%	1.00%	07/10/30	—		—			—		(20)
South Street Securities Holdings, Inc	Financial Services	9.00%	—	—	09/20/27		3,600		3,376			3,348
Spark Buyer, LLC	Electrical Equipment	8.90%	SOFR + 5.25%	0.75%	10/15/31		1,411		1,251			1,259	(13)(20)
Spinrite, Inc.	Leisure Products	11.17%	SOFR + 7.50%	—	12/05/30		3,063		3,004			3,004	(13)
Spinrite, Inc. (Revolver)	Leisure Products	11.17%	SOFR + 7.50%	—	12/05/30		88		79			79	(20)
STG Distribution, LLC (STG Logistics) (Second Out)	Transportation Infrastructure	—	—	—	10/03/29		2,972		1,607			59	(5)(13)
STG Distribution, LLC (STG Logistics) (Third Out)	Transportation Infrastructure	—	—	—	10/03/29		2,215		739		—		(5)(13)
Sundance Holdings Group, LLC	Specialty Retail	—	—	—	06/30/25		6,717		6,572			59	(5)
Synamedia Americas Holdings, Inc.	Interactive Media & Services	9.67%	SOFR + 6.00%	1.00%	12/05/28		4,071		3,664			4,071	(13)
TA/WEG Holdings, LLC (Revolver)	Financial Services	—	SOFR + 6.25%	1.00%	10/02/28	—			(1	)	—		(15)(20)
Tactical Air Support, Inc.	Aerospace & Defense	11.32%	SOFR + 7.50%	1.00%	12/22/28		4,250		4,034			4,180	(13)(20)
Taoglas Group Holdings Limited	Electronic Equipment, Instruments & Components	10.95%	SOFR + 7.25%	1.00%	02/28/29		2,284		2,029			2,261	(7)(13)
Taoglas Group Holdings Limited (Revolver)	Electronic Equipment, Instruments & Components	10.93%	SOFR + 7.25%	1.00%	02/28/29		610		545			604	(7)(13)(20)
Taoglas USA Holdings Inc.	Electronic Equipment, Instruments & Components	10.95%	SOFR + 7.25%	1.00%	02/28/29		1,627		1,613			1,611	(13)
Validity, Inc.	Software	8.90%	SOFR + 5.25%	0.50%	04/12/32		1,985		1,737			1,950	(13)
VBC Spine Opco LLC (DxTx Pain and Spine LLC)	Health Care Providers & Services	10.30%	SOFR + 6.50%	2.00%	06/14/29		10,001		9,759			9,902	(13)
VBC Spine Opco LLC (DxTx Pain and Spine LLC) (Revolver)	Health Care Providers & Services	10.17%	SOFR + 6.50%	2.00%	06/14/29		635		604			619	(20)
VTX Intermediate Holdings, Inc.	IT Services	11.93%	SOFR + 8.00%, 1.00% PIK	2.00%	12/12/29		10,375		9,782			10,272	(13)
Total First Lien/Senior Secured Debt									320,753			295,778
Second Lien/Senior Secured Debt - 17.9%
American Academy Holdings, LLC	Health Care Providers & Services	14.50% PIK	—	—	03/01/28		13,828		13,268			13,674
BLST Operating Company, LLC	Broadline Retail	—	—	—	05/06/26		1,352		1,132		—		(5)(13)
Confluence Technologies, Inc.	Software	10.30%	SOFR + 6.50%, 6.50% PIK	0.50%	07/30/29		4,272		4,260			3,535	(13)
Dcert Buyer, Inc.	Software	10.67%	SOFR + 7.00%	—	02/19/29		5,400		5,396			4,172	(13)
Florida Food Products, LLC Second Lien, Term Loan A	Food Products	8.76%	SOFR + 5.00%, 2.00% PIK	1.00%	10/15/30		3,578		2,428			2,627	(13)
Florida Food Products, LLC Second Lien, Term Loan B	Food Products	8.65%	SOFR + 5.00%, 2.00% PIK	1.00%	10/15/30		3,189		2,164			2,342	(13)
Ivanti Software, Inc.	Software	11.17%	SOFR + 7.25%	0.50%	06/01/29		9,090		7,785			3,204	(13)
Project Leopard Holdings, Inc.	Software	11.42%	SOFR + 7.75%	0.50%	07/22/30		5,000		4,945			3,075	(13)
VTX Intermediate Holdings, Inc.	IT Services	12.50% PIK	—	—	12/12/30		2,004		1,869			1,953
Total Second Lien/Senior Secured Debt									43,247			34,582
Subordinated Debt - 12.7%
DeltaDx Limited, LP (Money Transfer Acquisition Inc.)	Financial Services	15.00% PIK	—	—	06/14/28		1,030		996			1,025
Eastport Holdings, LLC	Commercial Services & Supplies	12.43%	SOFR + 8.50%	1.00%	09/29/27		19,250		17,642			19,250	(13)
Lucky Bucks Holdings LLC	Hotels, Restaurants & Leisure	—	—	—	05/29/28		8,762		5,993			1,697	(5)
Tubular Textile Machinery, Inc.	Machinery	5.00% PIK	—	—	10/29/27		5,289		3,344			2,495
Total Subordinated Debt									27,975			24,467
Collateralized Loan Obligations - 0.0%
Catamaran CLO 2014-1 Ltd.	CLO Fund Securities	—	—	—	04/20/30		15,161	—			—		(3)(7)(10)
Catamaran CLO 2018-1 Ltd	CLO Fund Securities	—	—	—	10/27/31		10,000		112		—		(3)(7)(10)
Dryden 30 Senior Loan Fund	CLO Fund Securities	—	—	—	11/01/28		3,250	—			—		(3)(7)(10)
Total Collateralized Loan Obligations									112			—
Preferred Stock and Units - 5.0%
4L Ultimate Topco Corporation	Commercial Services & Supplies	—	—	—	—		321		29		—
AAPC Holdings, LLC	Health Care Providers & Services	—	—	—	—		248,474		166			415

BCP Investment Corp 10-Q