UNITED STATES ~~SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549~~

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

______________________

FORM 10-Q

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



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

	For the Quarter Ended June 30, 2017

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

For the Quarter Ended March 31, 2017

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

Commission File Number: 814-00897

~~SPECIAL VALUE CONTINUATION PARTNERS, LP (Exact Name of Registrant as Specified in Charter)~~ ______________________

Delaware (State or Other Jurisdiction of Incorporation)	68-0631675 (IRS Employer Identification No.)
2951 28th Street, Suite 1000 Santa Monica, California (Address of Principal Executive Offices)	90405 (Zip Code)

SPECIAL VALUE CONTINUATION

PARTNERS, LP

(Exact Name of Registrant as Specified in Charter)

______________________



Delaware	68-0631675
(State or Other Jurisdiction of Incorporation)	(IRS Employer Identification No.)

2951 28^th Street, Suite 1000
Santa Monica, California	90405
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code (310) 566-1000

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

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

Common Limited Partner Interests ~~(Title of class)~~

(Title of class)

______________________

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 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 and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☐ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act. (Check one):



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 a new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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

The number of the Registrant’s common limited partner interests outstanding as of ~~March 31~~June 30, 2017 was $1,~~032~~125,~~229~~926,~~446~~346.

SPECIAL VALUE CONTINUATION PARTNERS, LP

FORM 10-Q

FOR THE ~~THREE~~SIX MONTHS ENDED ~~MARCH~~JUNE 3130, 2017

TABLE OF CONTENTS

Part I.	Financial Information
Item 1.	Financial Statements
	Consolidated Statements of Assets and Liabilities as of March 31, 2017 (unaudited) and December 31, 2016	2
	Consolidated Statements of Assets and Liabilities as of June 30, 2017 (unaudited) and December 31, 2016	2
	Consolidated Schedule of Investments as of March 31, 2017 (unaudited) and December 31, 2016	3
	Consolidated Schedule of Investments as of June 30, 2017 (unaudited) and December 31, 2016	3
	Consolidated Statements of Operations for the three months ended March 31, 2017 (unaudited) and March 31, 2016 (unaudited)	13
	Consolidated Statements of Operations for the three and six months ended June 30, 2017 (unaudited) and June 30, 2016 (unaudited)	19
	Consolidated Statements of Changes in Net Assets for the three months ended March 31, 2017 (unaudited) and year ended December 31, 2016	14
	Consolidated Statements of Changes in Net Assets for the six months ended June 30, 2017 (unaudited) and year ended December 31, 2016	20
	Consolidated Statements of Cash Flows for the three months ended March 31, 2017 (unaudited) and March 31, 2016 (unaudited)	15
	Consolidated Statements of Cash Flows for the six months ended June 30, 2017 (unaudited) and June 30, 2016 (unaudited)	21
	Notes to Consolidated Financial Statements (unaudited)	1622
	Consolidated Schedule of Changes in Investments in Affiliates for the three months ended March 31, 2017 (unaudited) and year ended December 31, 2016	30
	Consolidated Schedule of Changes in Investments in Affiliates for the six months ended June 30, 2017 (unaudited) and year ended December 31, 2016	42
	Consolidated Schedule of Restricted Securities of Unaffiliated Issuers as of March 31, 2017 (unaudited) and December 31, 2016	33
	Consolidated Schedule of Restricted Securities of Unaffiliated Issuers as of June 30, 2017 (unaudited) and December 31, 2016	44
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	3446
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	4559
Item 4.	Controls and Procedures	4560
Part II.	Other Information
Item 1.	Legal Proceedings	4661
Item 1A.	Risk Factors	4661
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	4661
Item 3.	Defaults upon Senior Securities	4661
Item 4.	Mine Safety Disclosures	4661
Item 5.	Other Information	4661
Item 6.	Exhibits	4661

~~Table~~Special ofValue ~~Contents~~Continuation Partners, LP

~~Special Value Continuation Partners, LP~~ (A Delaware Limited Partnership)

Consolidated Statements of Assets and Liabilities

		March 31, 2017				December 31, 2016
	June 30, 2017				December 31, 2016
	(unaudited)	~~(unaudited)~~
Assets
Investments, at fair value:
Companies less than 5% owned (cost of $1,186,962,473 and $1,174,421,611, respectively)		$	1,195,112,846			$	1,175,097,468
Companies less than 5% owned (cost of $1,279,331,045 and $1,174,421,611, respectively)	$	1,288,356,263			$	1,175,097,468
Companies 5% to 25% owned (cost of $79,674,112 and $75,508,585, respectively)			70,471,411				69,355,808
Companies 5% to 25% owned (cost of $88,515,653 and $75,508,585, respectively)	79,630,291				69,355,808
Companies more than 25% owned (cost of $98,351,702 and $96,135,623, respectively)			72,925,529				70,516,594
Companies more than 25% owned (cost of $107,221,632 and $96,135,623, respectively)	77,961,302				70,516,594
Total investments (cost of $1,364,988,287 and $1,346,065,819, respectively)			1,338,509,786				1,314,969,870
Total investments (cost of $1,475,068,330 and $1,346,065,819, respectively)	1,445,947,856				1,314,969,870
Cash and cash equivalents	41,573,835		~~55,964,496~~		53,579,868		~~53,579,868~~
Accrued interest income:
Companies less than 5% owned	13,636,626		~~13,494,055~~		12,713,025		~~12,713,025~~
Companies 5% to 25% owned	1,504,322		~~1,383,794~~		953,561		~~953,561~~
Companies more than 25% owned	20,580		~~18,333~~		25,608		~~25,608~~
Deferred debt issuance costs			3,449,834				3,828,784
Receivable for investments sold	14,142,637				—
Prepaid expenses and other assets			977,571				1,156,279
Deferred debt issuance costs	4,094,377				3,828,784
Total assets			1,413,797,869				1,387,226,995
Prepaid expenses and other assets	4,633,566				1,156,279
Liabilities
Total assets	1,525,553,799				1,387,226,995
Debt, net of unamortized issuance costs			369,883,104				333,787,426
Liabilities
Incentive allocation payable			4,976,378				4,716,834
Debt, net of unamortized issuance costs	347,643,220				333,787,426
Interest payable			2,466,563				2,715,380
Payable for investments purchased	40,429,682				12,348,925
Payable for investments purchased			2,056,600				12,348,925
Incentive allocation payable	6,207,263				4,716,834
Payable to the Advisor			445,513				325,790
Interest payable	2,995,392				2,715,380
Accrued expenses and other liabilities			1,740,265				1,623,003
Payable to the Advisor	518,764				325,790
Total liabilities			381,568,423				355,517,358
Unrealized depreciation on swaps	171,006				—
Commitments and contingencies (Note 5)
Accrued expenses and other liabilities	1,662,126				1,623,003
Net assets applicable to common limited and general partners		$	1,032,229,446			$	1,031,709,637
Total liabilities	399,627,453				355,517,358
Composition of net assets applicable to common limited and general partners
Commitments and contingencies (Note 5)
Paid-in capital in excess of par		$	1,180,024,317			$	1,180,024,317
Net assets applicable to common limited and general partners	$	1,125,926,346			$	1,031,709,637
Accumulated net investment income			18,754,443				17,764,674
Composition of net assets applicable to common limited and general partners
Accumulated net realized losses			(140,050,090	)			(134,962,632	)
Paid-in capital in excess of par	$	1,273,621,817			$	1,180,024,317
Accumulated net unrealized depreciation			(26,499,224	)			(31,116,722	)
Accumulated net investment income	23,455,363				17,764,674
Net assets applicable to common limited and general partners		$	1,032,229,446			$	1,031,709,637
Accumulated net realized losses	(141,839,193		)		(134,962,632		)
Accumulated net unrealized depreciation	(29,311,641		)		(31,116,722		)
Net assets applicable to common limited and general partners	$	1,125,926,346			$	1,031,709,637

See accompanying notes to the consolidated financial statements.

~~Table~~Special ofValue ~~Contents~~Continuation Partners, LP

~~Special Value Continuation Partners, LP~~ (A Delaware Limited Partnership)

Consolidated Schedule of Investments (Unaudited)

~~March~~June 3130, 2017

Issuer	Instrument	Ref	Floor			Spread	~~Spread~~		Total Coupon		~~Total Coupon~~	Maturity		Principal	~~Maturity~~	~~Principal~~	Cost			~~Cost~~	FairValue			~~Fair Value~~	% of TotalCash andInvestments		~~% of Total Cash and Investments~~Notes			~~Notes~~
Debt Investments (A)
Activities Related to Credit Intermediation
Advertising, Public Relations and Marketing
Pegasus Business Intelligence, LP (Onyx Centersource)	First Lien Term Loan	LIBOR (Q)		1.00	%			6.75	%			7.90	%		12/20/2021	$	14,732,896			$	14,597,174			$	14,680,595			1.05	%
Foursquare Labs, Inc.	First Lien Delayed Draw Term Loan (5.0% Exit Fee)	LIBOR (M)	—			8.81	%		10.06	%		6/1/2020		$	18,750,000		$	18,357,457			$	18,525,000			1.25	%	L
Pegasus Business Intelligence, LP (Onyx Centersource)	Revolver	LIBOR (Q)		1.00	%			6.75	%			N/A			12/20/2021	$	–				(6,336	)			(2,383	)		-			J
InMobi, Inc. (Singapore)	First Lien Delayed Draw Tranche 1 Term Loan (2.25% Exit Fee)	LIBOR (M)	0.33	%		10.17	%		11.36	%		12/31/2018		$	15,000,000		14,780,901				15,153,750				1.02	%	H/L
iPayment, Inc.	First Lien Term Loan B2	LIBOR (Q)		1.50	%			5.25	%			6.75	%		5/8/2017	$	11,289,051				11,244,616				11,232,605			0.81	%
																	33,138,358				33,678,750				2.27	%
																					25,835,454				25,910,817			1.86	%
Air Transportation
Activities Related to Real Estate
Mesa Air Group, Inc.	Acquisition Loan	LIBOR (M)	—			7.25	%		8.44	%		7/15/2022		$	13,009,929		12,840,544				13,270,127				0.89	%
Associations, Inc.	First Lien FILO Term Loan	LIBOR (Q)		1.00	%			8.96	%			10.11	%		12/23/2019	$	12,859,453				12,754,268				12,988,048			0.93	%
Mesa Airlines, Inc.	Engine Acquisition Delayed Draw Term Loan A	LIBOR (M)	—			7.25	%		8.50	%		12/14/2021		$	15,441,370		15,201,748				15,392,739				1.03	%
Advertising and Public Relations Services
Mesa Airlines, Inc.	Engine Acquisition Delayed Draw Term Loan B	LIBOR (M)	—			7.25	%		8.50	%		2/28/2022		$	8,931,637		8,789,436				8,854,379				0.60	%
InMobi, Inc. (Singapore)	First Lien Delayed Draw Tranche 1 Term Loan (2.25% Exit Fee)	LIBOR (M)		0.33	%			10.17	%			11.17	%		12/31/2018	$	15,000,000				14,736,380				14,639,250			1.05	%		H/K
Mesa Airlines, Inc.	Engine Acquisition Delayed Draw Term Loan C	LIBOR (M)	—			7.25	%		N/A			12/31/2022		$	—		—				—				—
Air Transportation
																	36,831,728				37,517,245				2.52	%
Mesa Air Group, Inc.	Acquisition Loan	LIBOR (M)		-				7.25	%			8.19	%		7/15/2022	$	13,531,264				13,344,705				13,801,889			0.99	%
Amusement and Recreation
Mesa Airlines, Inc.	Engine Acquisition Delayed Draw Term Loan A	LIBOR (M)		-				7.25	%			8.25	%		12/14/2021	$	15,857,304				15,598,929				15,735,995			1.13	%
VSS-Southern Holdings, LLC	First Lien Term Loan	LIBOR (Q)	1.00	%		6.50% Cash +2.00% PIK			9.80	%		11/3/2020		$	24,342,738		23,947,429				24,738,308				1.66	%
Mesa Airlines, Inc.	Engine Acquisition Delayed Draw Term Loan B	LIBOR (M)		-				7.25	%			8.25	%		2/28/2022	$	9,139,604				8,987,292				9,015,772			0.65	%
VSS-Southern Holdings, LLC	Sr Secured Revolver	LIBOR (Q)	1.00	%		6.50% Cash +2.00% PIK			N/A			11/3/2020		$	—		(14,296		)		13,913				—		K
Mesa Airlines, Inc.	Engine Acquisition Delayed Draw Term Loan C	LIBOR (M)		-				7.25	%			N/A			12/31/2022	$	–				-				-			-
																	23,933,133				24,752,221				1.66	%
																					37,930,926				38,553,656			2.77	%
Apparel Manufacturing
Amusement and Recreation
Broder Bros., Co.	First Lien Term Loan (First Out)	LIBOR (Q)	1.25	%		5.75	%		7.00	%		6/3/2021		$	9,017,976		8,889,066				9,108,155				0.61	%
AP Gaming I, LLC	First Lien Revolver	LIBOR (Q)		-				8.25	%			N/A			12/20/2018	$	–				(1,604,966	)			(750,000	)		(0.05	%)		J
Broder Bros., Co.	First Lien Term Loan B (Last Out)	LIBOR (Q)	1.25	%		12.25	%		13.50	%		6/3/2021		$	9,345,317		9,223,363				9,504,187				0.64	%
VSS-Southern Holdings, LLC	First Lien Term Loan	LIBOR (Q)		1.00	%			6.5% Cash + 2% PIK				9.65	%		11/3/2020	$	24,342,738				23,916,272				24,023,848			1.72	%
																	18,112,429				18,612,342				1.25	%
VSS-Southern Holdings, LLC	Sr Secured Revolver	LIBOR (Q)		1.00	%			6.5% Cash + 2% PIK				N/A			11/3/2020	$	–				(15,384	)			(17,123	)		-			J
Building Equipment Contractors
																					22,295,922				23,256,725			1.67	%
Hylan Datacom & Electrical, LLC	First Lien Term Loan	LIBOR (Q)	1.00	%		7.50	%		8.73	%		7/25/2021		$	13,984,735		13,807,502				14,082,629				0.95	%
Apparel Manufacturing
Business Support Services
Broder Bros., Co.	First Lien Term Loan (First Out)	LIBOR (Q)		1.25	%			5.75	%			7.00	%		6/3/2021	$	9,640,000				9,493,514				9,736,400			0.70	%
Enerwise Global Technologies, Inc.	Sr Secured Revolving Loan	LIBOR (Q)	0.23	%		8.52	%		N/A			11/30/2018		$	—		(8,153		)		(10,600		)		—		K
Broder Bros., Co.	First Lien Term Loan B (Last Out)	LIBOR (Q)		1.25	%			12.25	%			13.50	%		6/3/2021	$	9,760,000				9,621,892				9,857,600			0.71	%
Enerwise Global Technologies, Inc.	Sr Secured Term Loan (3.77% Exit Fee)	LIBOR (Q)	0.23	%		9.27	%		10.58	%		11/30/2019		$	23,000,000		22,761,767				22,939,050				1.54	%	L
																					19,115,406				19,594,000			1.41	%
STG-Fairway Acquisitions, Inc. (First Advantage)	Second Lien Term Loan	LIBOR (Q)	1.00	%		9.25	%		10.45	%		6/30/2023		$	31,000,000		30,618,212				28,306,100				1.90	%
Building Equipment Contractors
																	53,371,826				51,234,550				3.44	%
Hylan Datacom & Electrical, LLC	First Lien Term Loan	LIBOR (Q)		1.00	%			7.50	%			8.54	%		7/25/2021	$	14,205,048				14,015,350				14,148,228			1.01	%
Chemicals
Business Support Services
Anuvia Plant Nutrients Holdings, LLC	Sr Secured Term Loan (8.0% Exit Fee)	LIBOR (M)	—			10.63	%		11.88	%		2/1/2018		$	4,450,665		4,440,793				4,450,665				0.30	%	L
Enerwise Global Technologies, Inc.	Sr Secured Revolving Loan	LIBOR (Q)		0.23	%			8.52	%			N/A			11/30/2018	$	–				(13,002	)			5,800			-			J
Green Biologics, Inc.	Sr Secured Delayed Draw Term Loan (12.4% Exit Fee)	Prime Rate	—			7.75	%		12.00	%		6/30/2019		$	15,000,000		14,664,494				12,624,000				0.85	%	L
Enerwise Global Technologies, Inc.	Sr Secured Term Loan (3.77% Exit Fee)	LIBOR (Q)		0.23	%			9.27	%			10.27	%		11/30/2019	$	23,312,500				23,056,935				23,346,303			1.67	%		K
iGM RFE1 B.V. (Netherlands)	First Lien Delayed Draw Term Loan	LIBOR (Q)	—			8.00	%		9.30	%		10/12/2021		$	883,020		877,540				924,522				0.06	%	H
STG-Fairway Acquisitions, Inc. (First Advantage)	Second Lien Term Loan	LIBOR (Q)		1.00	%			9.25	%			10.30	%		6/30/2023	$	31,000,000				30,606,690				29,313,600			2.10	%
iGM RFE1 B.V. (Netherlands)	First Lien Term Loan	LIBOR (Q)	—			8.00	%		9.30	%		10/12/2021		$	3,816,276		3,791,996				3,995,641				0.27	%	H
																					53,650,623				52,665,703			3.77	%
iGM RFE1 B.V. (Netherlands)	First Lien Term Loan	EURIBOR (Q)	—			8.00	%		8.00	%		10/12/2021		€	6,459,119		7,055,942				7,727,059				0.52	%	D/H
Chemicals
Nanosys, Inc.	First Lien Delayed Draw Term Loan (3.5% Exit Fee)	LIBOR (Q)	—			9.81	%		11.06	%		4/1/2019		$	10,000,000		9,551,633				9,759,000				0.66	%	L
Anuvia Plant Nutrients Holdings, LLC	Sr Secured Term Loan (8.0% Exit Fee)	LIBOR (M)		-				10.63	%			12.40	%		2/1/2018	$	6,027,601				5,998,676				6,060,150			0.43	%		K
																	40,382,398				39,480,887				2.66	%
Green Biologics, Inc.	Sr Secured Delayed Draw Term Loan (12.4% Exit Fee)	Prime Rate		-				7.75	%			11.75	%		6/30/2019	$	15,000,000				14,646,627				14,173,500			1.02	%		K
Communications Equipment Manufacturing
iGM RFE1 B.V. (Netherlands)	First Lien Delayed Draw Term Loan	LIBOR (Q)		-				8.00	%			9.15	%		10/12/2021	$	888,608				882,751				920,154			0.07	%		H
Globecomm Systems, Inc.	First Lien Term Loan	LIBOR (Q)	1.25	%		7.63	%		8.88	%		12/11/2018		$	14,442,682		14,298,255				13,365,258				0.90	%	B
iGM RFE1 B.V. (Netherlands)	First Lien Term Loan	LIBOR (Q)		-				8.00	%			9.15	%		10/12/2021	$	3,840,430				3,814,482				3,976,765			0.29	%		H
Credit Related Activities
Nanosys, Inc.	First Lien Delayed Draw Term Loan (3.5% Exit Fee)	LIBOR (Q)		-				9.81	%			10.94	%		4/1/2019	$	10,000,000				9,497,959				9,691,000			0.69	%		K
Pacific Union Financials, LLC	First Lien Term Loan	LIBOR (M)	1.00	%		7.50	%		8.55	%		4/21/2022		$	25,000,000		24,757,835				24,750,000				1.66	%
																					34,840,495				34,821,569			2.50	%
Pegasus Business Intelligence, LP (Onyx Centersource)	First Lien Term Loan	LIBOR (Q)	1.00	%		6.75	%		8.05	%		12/20/2021		$	14,695,972		14,565,255				14,654,823				0.99	%
Communications Equipment Manufacturing
Pegasus Business Intelligence, LP (Onyx Centersource)	Revolver	LIBOR (Q)	1.00	%		6.75	%		8.05	%		12/20/2021		$	286,445		280,393				284,565				0.02	%
Globecomm Systems, Inc.	First Lien Term Loan	LIBOR (Q)		1.25	%			7.63	%			10.38	%		12/11/2018	$	14,442,682				14,298,255				14,166,826			1.02	%		B
																	39,603,483				39,689,388				2.67	%
Computer Systems Design and Related Services
Aptos Inc. (Canada)	First Lien Term Loan	LIBOR (Q)		1.00	%			6.75	%			7.90	%		9/1/2022	$	9,950,000				9,768,704				9,751,000			0.70	%		H
Bracket Intermediate Holding Corp.	Second Lien Term Loan	LIBOR (M)		1.00	%			9.00	%			10.00	%		3/14/2024	$	10,925,551				10,599,821				10,597,785			0.76	%
Dealersocket, Inc.	First Lien Term Loan	LIBOR (Q)		1.00	%			10.00	%			11.12	%		2/10/2021	$	17,500,000				16,923,123				17,435,250			1.25	%
Fidelis Acquisitionco, LLC	First Lien Term Loan	LIBOR (Q)		1.00	%			6.0% Cash + 2.0% PIK				9.00	%		11/4/2019	$	42,997,043				42,473,722				42,997,043			3.08	%
Fidelis Acquisitionco, LLC	Sr Secured Revolver	LIBOR (Q)		1.00	%			8.00	%			9.00	%		11/4/2019	$	3,182,143				3,182,143				3,182,143			0.23	%
MSC Software Corporation	Second Lien Term Loan	LIBOR (M)		1.00	%			7.50	%			8.50	%		5/29/2021	$	6,993,035				6,957,516				7,001,777			0.50	%
Marketo, Inc.	First Lien Term Loan	LIBOR (Q)		1.00	%			9.50	%			10.65	%		8/16/2021	$	23,295,455				22,665,828				23,125,398			1.66	%
Marketo, Inc.	Senior Secured Revolver	LIBOR (Q)		1.00	%			9.50	%			N/A			8/16/2021	$	–				(44,816	)			(12,443	)		-			J
OnX Enterprise Solutions, Ltd. (Canada)	First Lien Term Loan B	LIBOR (Q)		-				8.00	%			9.04	%		9/3/2018	$	2,308,067				2,308,067				2,308,067			0.17	%		H
OnX Enterprise Solutions, Ltd. (Canada)	First Lien Term Loan	LIBOR (Q)		-				8.00	%			9.04	%		9/3/2018	$	10,293,333				10,249,578				10,293,333			0.74	%		H
OnX USA, LLC	First Lien Term Loan B	LIBOR (Q)		-				8.00	%			9.04	%		9/3/2018	$	3,726,133				3,726,133				3,726,133			0.27	%
OnX USA, LLC	First Lien Term Loan	LIBOR (Q)		-				8.00	%			9.04	%		9/3/2018	$	3,146,667				3,141,380				3,146,667			0.23	%
Waterfall International, Inc.	First Lien Delayed Draw Term Loan (3.0% Exit Fee)	LIBOR (Q)		-				11.67	%			12.67	%		9/1/2018	$	4,800,000				4,730,576				5,305,680			0.38	%		K
																					136,681,775				138,857,833			9.97	%
Data Processing and Hosting Services
IO Data Centers, USA, LLC	First Lien Term Loan	Fixed		-				9.00	%			9.00	%		1/15/2020	$	6,876,756				6,876,756				6,895,324			0.49	%
Educational Support Services
Edmentum, Inc.	Jr Revolving Facility	Fixed		-				5.00	%			5.00	%		6/9/2020	$	2,105,366				2,105,366				2,105,370			0.15	%		B
Edmentum Ultimate Holdings, LLC	Sr PIK Notes	Fixed		-				8.50	%			8.50	%		6/9/2020	$	2,908,070				2,908,070				2,908,070			0.21	%		B
Edmentum Ultimate Holdings, LLC	Jr PIK Notes	Fixed		-				10.00	%			10.00	%		6/9/2020	$	13,373,646				12,905,008				12,410,743			0.89	%		B
																					17,918,444				17,424,183			1.25	%
Electronic Component Manufacturing
Soraa, Inc.	Tranche A Term Loan (3.0% Exit Fee)	LIBOR (M)		0.44	%			9.33	%			10.33	%		3/1/2018	$	12,690,841				12,410,761				12,444,639			0.89	%		K
Soraa, Inc.	Tranche B Term Loan	LIBOR (M)		0.44	%			9.33	%			10.33	%		9/1/2017	$	1,603,779				1,574,011				1,578,199			0.11	%
																					13,984,772				14,022,838			1.00	%

~~Table~~Special ofValue ~~Contents~~Continuation Partners, LP

~~Special Value Continuation Partners, LP~~ (A Delaware Limited Partnership)

Consolidated Schedule of Investments (~~Continued~~Unaudited) (~~Unaudited~~Continued)

~~March~~June 3130, 2017

Issuer	Instrument	Ref	Floor			Spread	~~Spread~~		Total Coupon		~~Total Coupon~~	Maturity		Principal	~~Maturity~~	~~Principal~~	Cost			~~Cost~~	FairValue			~~Fair Value~~	% of TotalCash andInvestments		~~% of Total Cash and Investments~~Notes			~~Notes~~
Debt Investments (continued)
Electric Power Generation, Transmission and Distribution
Computer Systems Design and Related Services
GlassPoint Solar, Inc.	First Lien Term Loan (5.0% Exit Fee)	LIBOR (M)		-				11.44	%			12.56	%		8/1/2020	$	4,000,000			$	3,606,790			$	3,725,202			0.27	%		K
Aptos Inc. (Canada)	First Lien Term Loan	LIBOR (Q)	1.00	%		6.75	%		8.05	%		9/1/2022		$	9,925,000		$	9,750,050			$	9,825,750			0.66	%	H
GlassPoint Solar, Inc.	First Lien Delay Draw Term Loan A	LIBOR (M)		-				11.44	%			N/A			8/1/2020	$	–				-				-			-
Bracket Intermediate Holding Corp.	Second Lien Term Loan	LIBOR (Q)	1.00	%		9.00	%		10.20	%		3/14/2024		$	10,925,551		10,605,342				10,597,785				0.71	%
GlassPoint Solar, Inc.	First Lien Delay Draw Term Loan B	LIBOR (M)		-				11.44	%			N/A			8/1/2020	$	–				-				-			-
Dealersocket, Inc.	First Lien Term Loan	LIBOR (M)	1.00	%		10.00	%		11.13	%		2/10/2021		$	16,625,000		16,109,136				16,593,413				1.12	%
Holocene Renewable Energy Fund 3, LLC (Conergy)	First Lien Term Loan	Fixed		-				9% Cash + 1% PIK				10.00	%		9/10/2017	$	7,556,229				7,541,009				7,513,159			0.54	%
Fidelis Acquisitionco, LLC	First Lien Term Loan	LIBOR (Q)	1.00	%		6.00% Cash +2.00% PIK			9.31	%		11/4/2019		$	43,214,417		42,740,865				40,718,785				2.74	%
																					11,147,799				11,238,361			0.81	%
Fidelis Acquisitionco, LLC	Sr Secured Revolver	LIBOR (Q)	1.00	%		8.00	%		9.31	%		11/4/2019		$	3,182,143		3,182,143				2,998,374				0.20	%
Equipment Leasing
Marketo, Inc.	First Lien Term Loan	LIBOR (Q)	1.00	%		9.50	%		10.80	%		8/16/2021		$	23,295,455		22,698,196				23,178,977				1.56	%
36th Street Capital Partners Holdings, LLC	Senior Note	Fixed		-				12.00	%			12.00	%		11/1/2020	$	30,956,272				30,956,272				30,956,272			2.22	%		E/F
Marketo, Inc.	Senior Secured Revolver	LIBOR (Q)	1.00	%		9.50	%		N/A			8/16/2021		$	—		(42,300		)		(8,523		)		—		K
Essex Ocean, LLC (Solexel)	Sr Secured Term Loan	Fixed		-				8.00	%			8.00	%		8/15/2018	$	1,696,898				1,696,898				1,237,887			0.09	%
OnX Enterprise Solutions, Ltd. (Canada)	First Lien Term Loan B	LIBOR (Q)	—			8.00	%		9.20	%		9/3/2018		$	2,302,133		2,302,133				2,302,133				0.15	%	H
																					32,653,170				32,194,159			2.31	%
OnX Enterprise Solutions, Ltd. (Canada)	First Lien Term Loan	LIBOR (Q)	—			8.00	%		9.20	%		9/3/2018		$	10,266,667		10,230,295				10,266,667				0.69	%	H
Facilities Support Services
OnX USA, LLC	First Lien Term Loan B	LIBOR (Q)	—			8.00	%		9.20	%		9/3/2018		$	3,714,267		3,714,267				3,714,267				0.25	%
NANA Development Corp.	First Lien Term Loan B	LIBOR (M)		1.25	%			6.75	%			8.00	%		3/15/2018	$	703,611				675,274				693,057			0.05	%
OnX USA, LLC	First Lien Term Loan	LIBOR (Q)	—			8.00	%		9.20	%		9/3/2018		$	3,133,333		3,131,703				3,133,333				0.21	%
Financial Investment Activities
Waterfall International, Inc.	First Lien Delayed Draw Term Loan (3.0% Exit Fee)	LIBOR (Q)	—			11.67	%		12.86	%		9/1/2018		$	4,800,000		4,737,352				5,397,360				0.36	%	L
Magnolia Finance V plc (Cayman Islands)	Asset-Backed Credit Linked Notes	Fixed		-				13.13	%			13.13	%		8/2/2021	$	15,000,000				15,000,000				15,030,000			1.08	%		E/H
																	129,159,182				128,718,321				8.65	%
Grocery Stores
Credit (Nondepository)
Bashas, Inc.	First Lien FILO Term Loan	LIBOR (M)		1.50	%			8.80	%			10.30	%		10/8/2019	$	9,135,537				9,100,587				9,226,892			0.66	%
Auto Trakk SPV, LLC	First Lien Delayed Draw Term Loan	LIBOR (M)	0.50	%		9.50	%		10.66	%		12/21/2021		$	32,392,942		31,940,424				32,483,492				2.18	%
Hospitals
Caliber Home Loans, Inc.	First Lien Delayed Draw Term Loan	LIBOR (M)	1.00	%		6.50	%		7.73	%		6/30/2020		$	15,555,556		15,388,977				15,915,556				1.07	%
KPC Healthcare, Inc.	First Lien Term Loan	LIBOR (Q)		1.00	%			9.00	%			10.33	%		2/6/2020	$	19,801,933				19,665,937				19,900,943			1.43	%
Caribbean Financial Group (Cayman Islands)	Sr Secured Notes	Fixed	—			11.50	%		11.50	%		11/15/2019		$	28,678,000		28,584,707				29,251,558				1.97	%	E/G/H
Pacific Coast Holdings Investment, LLC (KPC Healthcare)	First Lien Term Loan	LIBOR (M)		1.00	%			7.50	%			8.50	%		2/14/2021	$	29,288,064				28,865,762				28,848,743			2.07	%
Trade Finance Funding I, Ltd. (Cayman Islands)	Secured Class B Notes	Fixed	—			10.75	%		10.75	%		11/13/2018		$	14,907,138		14,907,138				14,907,138				1.00	%	E/H
																					48,531,699				48,749,686			3.50	%
																	90,821,246				92,557,744				6.22	%
Insurance
Data Processing and Hosting Services
Alera Group Intermediate Holdings, Inc.	First Lien Delayed Draw Term Loan	LIBOR (Q)		1.00	%			5.50	%			N/A			12/30/2022	$	–				(8,333	)			(7,917	)		-			J
Internap Corporation	First Lien Term Loan	LIBOR (M)	1.00	%		7.00	%		8.09	%		4/3/2022		$	8,204,836		8,086,429				8,317,653				0.56	%	J
Alera Group Intermediate Holdings, Inc.	First Lien Revolver	LIBOR (Q)		1.00	%			5.50	%			N/A			12/30/2021	$	–				(7,595	)			(7,216	)		-			J
IO Data Centers, USA, LLC	First Lien Term Loan	Fixed	—			9.00	%		9.00	%		1/15/2020		$	15,000,000		15,000,000				15,000,000				1.01	%
Alera Group Intermediate Holdings, Inc.	First Lien Term Loan	LIBOR (Q)		1.00	%			5.50	%			6.50	%		12/30/2022	$	3,407,121				3,375,184				3,374,753			0.24	%
Pulse Secure, LLC	First Lien Term Loan	LIBOR (Q)	1.00	%		7.00	%		8.06	%		5/1/2022		$	12,082,640		11,905,258				11,901,400				0.80	%
Association Member Benefits Advisors, LLC	Second Lien Term Loan	LIBOR (M)		1.00	%			8.75	%			9.75	%		6/8/2023	$	8,277,983				8,123,129				8,230,384			0.59	%
Pulse Secure, LLC	Revolver	LIBOR (Q)	1.00	%		7.00	%		N/A			5/1/2022		$	—		(19,492		)		(20,138		)		—		K
US Apple Holdco, LLC (Ventiv Technology)	First Lien FILO Term Loan	LIBOR (Q)		0.50	%			13.62	%			14.61	%		8/29/2019	$	20,045,455				19,601,825				20,045,455			1.44	%
TierPoint, LLC	Second Lien Term Loan	LIBOR (M)	1.00	%		7.25	%		8.48	%		5/5/2025		$	9,675,000		9,608,682				9,789,891				0.66	%
																					31,084,210				31,635,459			2.27	%
																	44,580,877				44,988,806				3.03	%
Lessors of Nonfinancial Licenses
Educational Support Services
ABG Intermediate Holdings 2, LLC	Second Lien Term Loan	LIBOR (Q)		1.00	%			8.50	%			9.65	%		5/27/2022	$	16,573,588				16,438,751				16,822,192			1.21	%
Edmentum, Inc.	Jr Revolving Facility	Fixed	—			5.00	%		5.00	%		6/9/2020		$	3,368,586		3,368,586				3,368,589				0.23	%	B
ABG Intermediate Holdings 2, LLC	Second Lien Incremental Term Loan	LIBOR (Q)		1.00	%			8.50	%			9.65	%		5/27/2022	$	3,426,412				3,398,716				3,477,808			0.25	%
Edmentum Ultimate Holdings, LLC	Sr PIK Notes	Fixed	—			8.50	%		8.50	%		6/9/2020		$	2,967,806		2,967,806				2,967,806				0.20	%	B
Kenneth Cole Productions, Inc.	First Lien FILO Term Loan	LIBOR (M)		1.00	%			9.65	%			10.65	%		3/21/2022	$	35,310,220				34,960,857				34,868,842			2.50	%
Edmentum Ultimate Holdings, LLC	Jr PIK Notes	Fixed	—			10.00	%		10.00	%		6/9/2020		$	13,696,842		13,257,966				12,710,670				0.85	%	B
																					54,798,324				55,168,842			3.96	%
																	19,594,358				19,047,065				1.28	%
Management, Scientific, and Technical Consulting Services
Electronic Component Manufacturing
Dodge Data & Analytics, LLC	First Lien Term Loan	LIBOR (Q)		1.00	%			8.75	%			9.94	%		10/31/2019	$	23,646,472				23,305,524				23,640,560			1.70	%
Soraa, Inc.	Tranche A Term Loan (3.0% Exit Fee)	LIBOR (M)	0.44	%		9.33	%		10.52	%		3/1/2018		$	9,646,876		9,488,130				9,534,008				0.64	%	L
Motion Picture and Video Industries
Soraa, Inc.	Tranche B Term Loan	LIBOR (M)	0.44	%		9.33	%		10.52	%		9/1/2017		$	1,603,779		1,591,962				1,593,034				0.11	%
NEG Holdings, LLC (CORE Entertainment)	First Lien Term Loan	LIBOR (Q)		1.00	%			8.0% PIK				9.15	%		10/17/2022	$	1,478,480				1,478,480				1,426,807			0.10	%
																	11,080,092				11,127,042				0.75	%
Nondepository Credit Intermediation
Equipment Leasing
Auto Trakk SPV, LLC	First Lien Delayed Draw Term Loan	LIBOR (M)		0.50	%			9.50	%			10.41	%		12/21/2021	$	32,392,942				31,920,714				32,213,653			2.31	%
36th Street Capital Partners Holdings, LLC	Senior Note	Fixed	—			12.00	%		12.00	%		11/1/2020		$	35,592,282		35,592,282				35,592,282				2.39	%	E/F
Caliber Home Loans, Inc.	First Lien Delayed Draw Term Loan	LIBOR (M)		1.00	%			6.50	%			7.50	%		6/30/2020	$	14,444,444				14,264,345				14,664,444			1.05	%
Essex Ocean, LLC (Solexel)	Sr Secured Term Loan	Fixed	—			8.00	%		8.00	%		8/15/2018		$	1,696,898		1,696,898				1,148,121				0.08	%	C
Caribbean Financial Group (Cayman Islands)	Sr Secured Notes	Fixed		-				11.50	%			11.50	%		11/15/2019	$	28,678,000				28,576,292				29,394,950			2.11	%		E/G/H
																	37,289,180				36,740,403				2.47	%
Daymark Financial Acceptance, LLC	First Lien Delayed Draw Term Loan	LIBOR (Q)		-				9.50	%			10.53	%		1/12/2020	$	17,500,000				17,316,726				17,038,000			1.22	%
Facilities Support Services
Greystone Select Holdings, LLC	First Lien Term Loan	LIBOR (Q)		1.00	%			8.00	%			9.00	%		3/26/2021	$	16,022,574				15,880,551				16,182,800			1.16	%
NANA Development Corp.	First Lien Term Loan B	LIBOR (Q)	1.25	%		6.75	%		8.03	%		3/15/2018		$	1,109,000		1,089,361				1,097,910				0.07	%
Trade Finance Funding I, Ltd. (Cayman Islands)	Secured Class B Notes	Fixed		-				10.75	%			10.75	%		11/13/2018	$	15,084,000				15,084,000				12,972,240			0.93	%		E/H
Grocery Stores
																					123,042,628				122,466,087			8.78	%
Bashas, Inc.	First Lien FILO Term Loan	LIBOR (M)	1.50	%		8.80	%		10.30	%		10/8/2019		$	7,728,367		7,698,801				7,805,651				0.52	%
Other Information Services
Asset International, Inc.	Delayed Draw Term Loan	LIBOR (Q)		1.00	%			8.50	%			9.65	%		7/31/2020	$	1,251,626				1,229,491				1,249,019			0.09	%
Asset International, Inc.	Revolver Loan	LIBOR (Q)		1.00	%			8.50	%			9.65	%		7/31/2020	$	491,303				480,936				490,075			0.04	%
Asset International, Inc.	First Lien Term Loan	LIBOR (Q)		1.00	%			8.50	%			9.65	%		7/31/2020	$	15,311,040				15,122,738				15,291,901			1.10	%
Simmons Research, LLC	First Lien Term Loan	LIBOR (Q)		0.50	%			10.50	%			11.69	%		12/11/2020	$	3,098,732				3,050,523				3,135,917			0.22	%
TCH-2 Holdings, LLC (TravelClick)	Second Lien Term Loan	LIBOR (M)		1.00	%			7.75	%			8.75	%		11/6/2021	$	19,988,392				19,778,668				19,813,494			1.42	%		G
																					39,662,356				39,980,406			2.87	%
Other Manufacturing
AGY Holding Corp.	Sr Secured Term Loan	Fixed		-				12.00	%			12.00	%		9/15/2018	$	4,869,577				4,869,577				4,869,710			0.35	%		B
AGY Holding Corp.	Second Lien Notes	Fixed		-				11.00	%			11.00	%		11/15/2018	$	9,268,000				7,586,317				9,268,000			0.66	%		B/E
AGY Holding Corp.	Delayed Draw Term Loan	Fixed		-				12.00	%			12.00	%		9/15/2018	$	1,049,146				1,049,146				1,049,147			0.08	%		B
Bioventus, LLC	Second Lien Term Loan	LIBOR (M)		1.00	%			6.25	%			7.25	%		11/15/2021	$	4,968,750				4,875,657				4,981,172			0.36	%
Boomerang Tube, LLC	Subordinated Notes	LIBOR (M)		-				17.50	%			N/A			2/1/2021	$	1,030,741				1,030,741				107,197			0.01	%		C
																					19,411,438				20,275,226			1.46	%
Other Publishing
Bisnow, LLC	First Lien Revolver	LIBOR (Q)		-				9.00	%			N/A			4/29/2021	$	–				(24,000	)			15,000			-			J
Bisnow, LLC	First Lien Term Loan	LIBOR (Q)		-				9.00	%			10.19	%		4/29/2021	$	8,394,959				8,252,293				8,361,379			0.60	%
Contextmedia Health, LLC	First Lien Term Loan B	LIBOR (M)		1.00	%			6.50	%			7.50	%		12/23/2021	$	13,465,909				12,163,700				13,465,909			0.96	%
																					20,391,993				21,842,288			1.56	%
Other Telecommunications
Securus Technologies, Inc.	Second Lien Term Loan	LIBOR (Q)		1.25	%			7.75	%			9.00	%		4/30/2021	$	4,516,129				4,470,968				4,527,419			0.32	%
Plastics Manufacturing
Iracore International, Inc.	Sr Secured Notes	Fixed		-				9.50	%			9.50	%		6/1/2018	$	13,781,000				14,291,250				4,177,710			0.30	%		C/E/G
Radio and Television Broadcasting
Fuse, LLC	Sr Secured Notes	Fixed		-				10.38	%			10.38	%		7/1/2019	$	7,312,000				7,312,000				4,429,851			0.32	%		E/G
NEP/NCP Holdco, Inc.	Second Lien Term Loan	LIBOR (Q)		1.25	%			8.75	%			10.00	%		7/22/2020	$	15,981,496				15,746,113				16,221,218			1.16	%		G
																					23,058,113				20,651,069			1.48	%

Table of Contents

Special Value Continuation Partners, LP

(A Delaware Limited Partnership)

Consolidated Schedule of Investments (~~Continued~~Unaudited) (~~Unaudited~~Continued)

~~March~~June 3130, 2017

Issuer	Instrument	Ref	Floor			Spread	~~Spread~~		Total Coupon		~~Total Coupon~~	Maturity		Principal	~~Maturity~~	~~Principal~~	Cost			~~Cost~~	FairValue		~~Fair Value~~	% of TotalCash andInvestments		~~% of Total Cash and Investments~~Notes			~~Notes~~
Debt Investments (continued)
Real Estate Leasing
Hospitals
Home Partners of America, Inc.	First Lien Term Loan	LIBOR (M)		1.00	%			7.00	%			8.00	%		10/13/2022	$	5,000,000			$	4,907,790		$	5,000,000			0.36	%
KPC Healthcare, Inc.	First Lien Term Loan	LIBOR (Q)	1.00	%		9.00	%		10.33	%		2/6/2020		$	14,792,003		$	14,701,305			$	14,939,923		1.00	%
Restaurants
Pacific Coast Holdings Investment, LLC (KPC Healthcare)	First Lien Term Loan	LIBOR (M)	1.00	%		7.50	%		8.73	%		2/14/2021		$	29,288,064		28,892,367				29,539,941			1.99	%
RM OpCo, LLC (Real Mex)	Convertible Second Lien Term Loan Tranche B-1	Fixed		-				8.50	%			8.50	%		3/30/2018	$	1,984,960				1,984,960			1,984,960			0.14	%		B
																	43,593,672				44,479,864			2.99	%
RM OpCo, LLC (Real Mex)	First Lien Term Loan Tranche A	Fixed		-				7.00	%			7.00	%		3/30/2018	$	4,877,999				4,594,613			4,877,999			0.35	%		B
Insurance
RM OpCo, LLC (Real Mex)	Second Lien Term Loan Tranche B	Fixed		-				8.50	%			8.50	%		3/30/2018	$	9,890,374				9,890,374			1,335,200			0.09	%		B
Alera Group Intermediate Holdings, Inc.	First Lien Delayed Draw Term Loan	LIBOR (Q)	1.00	%		5.50	%		6.71	%		12/30/2022		$	83,333		75,006				83,750			0.01	%
RM OpCo, LLC (Real Mex)	Second Lien Term Loan Tranche B-1	Fixed		-				8.50	%			8.50	%		3/30/2018	$	3,114,816				3,099,394			3,114,816			0.22	%		B
Alera Group Intermediate Holdings, Inc.	First Lien Revolver	LIBOR (Q)	1.00	%		5.50	%		6.58	%		12/30/2021		$	123,103		115,541				123,103			0.01	%
RM OpCo, LLC (Real Mex)	Sr Convertible Second Lien Term Loan B	Fixed		-				8.50	%			8.50	%		3/30/2018	$	5,600,829				5,600,829			5,600,829			0.40	%		B
Alera Group Intermediate Holdings, Inc.	First Lien Term Loan	LIBOR (Q)	1.00	%		5.50	%		6.55	%		12/30/2022		$	3,398,603		3,368,092				3,400,303			0.23	%
																					25,170,170			16,913,804			1.20	%
Association Member Benefits Advisors, LLC	Second Lien Term Loan	LIBOR (M)	1.00	%		8.75	%		9.84	%		6/8/2023		$	8,277,983		8,127,178				8,215,898			0.55	%
Retail
US Apple Holdco, LLC (Ventiv Technology)	First Lien FILO Term Loan	LIBOR (Q)	0.50	%		13.62	%		14.91	%		8/29/2019		$	20,060,606		19,656,808				20,060,606			1.35	%
Bon-Ton, Inc.	First Lien Tranche A-1 Revolver	LIBOR (Q)		1.00	%			9.50	%			10.50	%		3/15/2021	$	4,432,934				4,354,318			4,393,038			0.31	%
																	31,342,625				31,883,660			2.15	%
Gander Mountain Company	Second Lien Term Loan	LIBOR (M)		-				12.00	%			13.05	%		6/15/2018	$	14,740,910				14,637,679			14,888,319			1.07	%
Lessors of Nonfinancial Licenses
The Gymboree Corporation	First Lien Term Loan	LIBOR (M)		-				10.25	%			11.30	%		9/24/2020	$	12,692,511				12,469,507			12,946,362			0.93	%
ABG Intermediate Holdings 2, LLC	Second Lien Term Loan	LIBOR (Q)	1.00	%		8.50	%		9.80	%		5/27/2022		$	16,416,144		16,287,047				16,621,346			1.12	%
																					31,461,504			32,227,719			2.31	%
ABG Intermediate Holdings 2, LLC	Second Lien Incremental Term Loan	LIBOR (Q)	1.00	%		8.50	%		9.80	%		5/27/2022		$	3,393,862		3,368,190				3,436,285			0.23	%
Satellite Telecommunications
ABG Intermediate Holdings 2, LLC	Second Lien Incremental Term Loan	LIBOR (Q)	1.00	%		8.50	%		9.80	%		5/27/2022		$	2,057,154		2,052,311				2,082,868			0.14	%
Avanti Communications Group, PLC (United Kingdom)	Delayed Draw PIK Toggle Notes	Fixed		-				10.00	%			10.00	%		11/30/2022	$	–				(21,860	)		(22,538	)		-			E/H/J
Kenneth Cole Productions, Inc.	First Lien FILO Term Loan	LIBOR (M)	1.00	%		9.65	%		10.95	%		3/21/2022		$	34,427,465		34,098,301				34,045,320			2.29	%
Avanti Communications Group, PLC (United Kingdom)	Sr New Money Initial Note	Fixed		-				10.00	%			10.00	%		10/1/2021	$	1,239,631				1,203,193			1,121,866			0.08	%		E/G/H
																	55,805,849				56,185,819			3.78	%
Avanti Communications Group, PLC (United Kingdom)	Sr Second-Priority PIK Toggle Note	Fixed		-				10.00	%			10.00	%		10/1/2021	$	3,163,188				3,073,088			2,862,685			0.21	%		E/G/H
Management, Scientific, and Technical Consulting Services
Avanti Communications Group, PLC (United Kingdom)	Sr Secured Third-Priority Note	Fixed		-				12.00	%			12.00	%		10/1/2023	$	6,327,730				2,934,259			2,594,369			0.19	%		E/G/H
Asentinel, LLC (Tangoe)	First Lien Last Out Term Loan	LIBOR (M)	1.00	%		10.77%Cash +0.50%PIK			12.45	%		6/16/2022		$	24,262,102		23,313,021				23,315,880			1.57	%
																					7,188,680			6,556,382			0.48	%
Dodge Data & Analytics, LLC	First Lien Term Loan	LIBOR (Q)	1.00	%		8.75	%		10.06	%		10/31/2019		$	23,297,434		22,998,815				23,297,434			1.57	%
Scientific Research and Development Services
																	46,311,836				46,613,314			3.14	%
BPA Laboratories, Inc.	Second Lien Term Loan	LIBOR (Q)		-				2.50	%			3.54	%		7/1/2017	$	3,081,346				1,878,682			2,079,908			0.15	%
Motion Picture and Video Industries
Envigo Holdings, Inc.	First Lien Term Loan	LIBOR (Q)		1.00	%			8.50	%			9.53	%		11/3/2021	$	35,104,936				34,454,676			34,841,649			2.50	%
NEG Holdings, LLC (CORE Entertainment)	First Lien Term Loan	LIBOR (Q)	1.00	%		8.00% PIK			9.30	%		10/17/2022		$	1,512,664		1,512,664				1,512,664			0.10	%
																					36,333,358			36,921,557			2.65	%
Other Information Services
Software Publishing
Asset International, Inc.	Delayed Draw Term Loan	LIBOR (Q)	1.00	%		8.50	%		9.80	%		7/31/2020		$	1,251,626		1,230,728				1,257,884			0.08	%
Acronis International GmbH (Switzerland)	First Lien Term Loan	LIBOR (Q)		1.00	%			11.50	%			12.69	%		6/9/2017	$	27,570,661				27,578,796			27,438,322			1.97	%		H
Asset International, Inc.	Revolver Loan	LIBOR (Q)	1.00	%		8.50	%		9.80	%		7/31/2020		$	491,303		481,527				494,251			0.03	%
ArcServe (USA), LLC	Second Lien Term Loan	LIBOR (Q)		0.50	%			8.5% Cash + 1.25% PIK				10.90	%		1/31/2020	$	30,323,679				29,978,013			29,272,963			2.10	%
Asset International, Inc.	First Lien Term Loan	LIBOR (Q)	1.00	%		8.50	%		9.80	%		7/31/2020		$	15,213,518		15,036,366				15,259,158			1.03	%
Autoalert, LLC	First Lien Term Loan	LIBOR (Q)		0.25	%			5.75% Cash + 3% PIK				9.94	%		3/31/2019	$	36,231,157				35,913,209			36,439,486			2.61	%
Simmons Research, LLC	First Lien Term Loan	LIBOR (Q)	0.50	%		10.50	%		11.81	%		12/11/2020		$	2,970,509		2,926,492				3,022,492			0.20	%
Fishbowl, Inc.	First Lien Term Loan	LIBOR (Q)		-				2.8% Cash + 8.45% PIK				12.44	%		1/26/2022	$	18,432,074				17,826,924			17,786,952			1.27	%
																	19,675,113				20,033,785			1.34	%
Mapp Digital US, LLC	First Lien Term Loan	LIBOR (Q)		-				9.50	%			10.65	%		12/31/2017	$	5,692,765				5,635,544			5,712,690			0.41	%
Other Manufacturing
Newscycle Solutions, Inc.	Second Lien Term Loan	LIBOR (Q)		-				13.00	%			14.11	%		9/10/2021	$	11,513,361				11,213,956			11,493,214			0.82	%
AGY Holding Corp.	Sr Secured Term Loan	Fixed	—			12.00	%		12.00	%		9/15/2018		$	4,869,577		4,869,577				4,869,577			0.33	%	B
Newscycle Solutions AB (Sweden)	Second Lien Term Loan B	LIBOR (Q)		-				13.00	%			14.11	%		9/10/2021	$	11,513,362				11,213,956			11,493,214			0.82	%		H
AGY Holding Corp.	Second Lien Notes	Fixed	—			11.00	%		11.00	%		11/15/2018		$	9,268,000		7,586,317				9,268,000			0.62	%	B/E
Soasta, Inc.	First Lien Term Loan (8.0% Exit Fee)	LIBOR (M)		-				9.56	%			10.69	%		4/1/2019	$	17,880,435				17,640,758			19,351,995			1.39	%		K
AGY Holding Corp.	Delayed Draw Term Loan	Fixed	—			12.00	%		12.00	%		9/15/2018		$	1,049,146		1,049,146				1,049,146			0.07	%	B
Soasta, Inc.	Convertible Promissory Note	Fixed		-				10.00	%			10.00	%		12/16/2017	$	2,282,609				2,282,609			6,043,435			0.43	%
																	13,505,040				15,186,723			1.02	%
Tradeshift Holdings, Inc.	First Lien Delayed Draw Term Loan (7.0% Exit Fee)	LIBOR (M)		-				8.88	%			10.00	%		9/1/2020	$	11,470,517				10,660,339			10,820,142			0.78	%		K
Other Publishing
Utilidata, Inc.	First Lien Delayed Draw Term Loan (1.0% Exit Fee)	LIBOR (M)		0.62	%			9.88	%			10.88	%		1/1/2019	$	2,852,742				2,778,166			2,799,967			0.20	%		K
Bisnow, LLC	First Lien Revolver	LIBOR (Q)	—			9.00	%		N/A			4/29/2021		$	—		(24,000		)		—			—		K
																					172,722,270			178,652,380			12.80	%
Bisnow, LLC	First Lien Term Loan	LIBOR (Q)	—			9.00	%		10.31	%		4/29/2021		$	8,247,890		8,115,773				8,301,503			0.56	%
Textile Furnishings Mills
Contextmedia Health, LLC	First Lien Term Loan B	LIBOR (M)	1.00	%		6.50	%		7.75	%		12/23/2021		$	13,295,455		12,060,867				13,428,409			0.90	%
Lexmark Carpet Mills, Inc.	First Lien Term Loan	LIBOR (Q)		1.00	%			10.00	%			11.00	%		12/19/2019	$	22,570,814				22,570,814			22,700,596			1.63	%
																	20,152,640				21,729,912			1.46	%
Lexmark Carpet Mills, Inc.	First Lien Term Loan B	LIBOR (Q)		1.00	%			10.00	%			11.00	%		12/19/2019	$	7,742,314				7,615,554			7,786,832			0.56	%
Other Real Estate Activities
																					30,186,368			30,487,428			2.19	%
Associations, Inc.	First Lien FILO Term Loan	LIBOR (Q)	1.00	%		8.96	%		10.26	%		12/23/2019		$	12,827,062		12,729,000				12,955,332			0.87	%
Utility System Construction
Greystone Select Holdings, LLC	First Lien Term Loan	LIBOR (Q)	1.00	%		8.00	%		9.24	%		4/17/2024		$	25,202,549		24,953,154				24,950,523			1.68	%
Kawa Solar Holdings Limited (Cayman Islands)	Bank Guarantee Credit Facility	Fixed		-				8.2% Cash + 3.5% PIK				11.70	%		7/2/2017	$	21,464,657				21,464,657			21,464,657			1.54	%		F/H
																	37,682,154				37,905,855			2.55	%
Kawa Solar Holdings Limited (Cayman Islands)	Revolving Credit Facility	Fixed		-				8.20	%			8.20	%		7/2/2017	$	4,000,000				4,000,000			3,075,000			0.22	%		F/H
																					25,464,657			24,539,657			1.76	%
Wholesalers
NILCO, LLC	First Lien Term Loan	LIBOR (Q)		1.00	%			9.50	%			10.65	%		9/1/2021	$	20,756,994				20,197,037			21,379,704			1.53	%
Wired Telecommunications Carriers
Alpheus Communications, LLC	First Lien Delayed Draw FILO Term Loan	LIBOR (M)		1.00	%			7.42	%			8.78	%		5/31/2018	$	329,845				326,566			325,227			0.02	%
Alpheus Communications, LLC	First Lien Delayed Draw FILO Term Loan	LIBOR (M)		1.00	%			7.42	%			8.60	%		5/31/2018	$	1,338,648				1,331,125			1,314,901			0.09	%
Alpheus Communications, LLC	First Lien FILO Term Loan	LIBOR (M)		1.00	%			7.42	%			8.42	%		5/31/2018	$	7,207,350				7,135,699			7,107,528			0.51	%
U.S. TelePacific Corp.	First Lien Notes	LIBOR (Q)		1.00	%			8.50	%			9.62	%		2/24/2021	$	10,000,000				9,731,525			10,000,000			0.72	%
																					18,524,915			18,747,656			1.34	%
Wireless Telecommunications Carriers
Gogo, LLC	Sr Secured Notes	Fixed		-				12.50	%			12.50	%		7/1/2022	$	10,000,000				10,000,000			11,312,500			0.81	%		E/G
Total Debt Investments																					1,279,195,388			1,273,607,815			91.34	%

Table of Contents

Special Value Continuation Partners, LP

(A Delaware Limited Partnership)

Consolidated Schedule of Investments (~~Continued~~Unaudited) (~~Unaudited~~Continued)

~~March~~June 3130, 2017

Issuer	Instrument	Ref	Floor		Spread	~~Spread~~	Total Coupon		~~Total Coupon~~	Maturity	Principal	~~Maturity~~	~~Shares~~	Cost		~~Cost~~	FairValue		~~Fair Value~~	% of TotalCash andInvestments		~~% of Total Cash and Investments~~Notes			~~Notes~~
Equity Securities
Debt Investments (continued)
Advertising and Public Relations Services
Other Telecommunications
InMobi, Inc. (Singapore)	Warrants to Purchase Stock													1,049,996		$	276,492		$	98,910			0.01	%		C/E/H
Securus Technologies, Inc.	Second Lien Term Loan	LIBOR (Q)	1.25	%	7.75	%	9.00	%		4/30/2021	$	4,516,129		$	4,470,968		$	4,546,252		0.31	%
Air Transportation
Securus Technologies, Inc.	Second Lien Term Loan	LIBOR (Q)	1.00	%	8.25	%	9.25	%		6/20/2025	$	24,000,000		23,760,000			24,165,000			1.62	%
Aircraft Leased to United Airlines, Inc.
														28,230,968			28,711,252			1.93	%
United N659UA-767, LLC (N659UA)	Trust Beneficial Interests													683			3,160,496			3,090,678			0.22	%		E/F
Plastics Manufacturing
United N661UA-767, LLC (N661UA)	Trust Beneficial Interests													688			3,280,344			3,161,098			0.23	%		E/F
Iracore International, Inc.	First Lien Term Loan	LIBOR (M)	1.00	%	9.00	%	10.25	%		4/13/2021	$	1,900,733		1,900,733			1,900,733			0.13	%	B
Epic Aero, Inc. (One Sky)	Warrants to Purchase Common Stock													1,843			855,313			3,408,386			0.24	%		C/E
Radio and Television Broadcasting
																	7,296,153			9,660,162			0.69	%
Fuse, LLC	Sr Secured Notes	Fixed	—		10.38	%	10.38	%		7/1/2019	$	5,740,000		5,740,000			4,061,050			0.27	%	E/G
Business Support Services
NEP/NCP Holdco, Inc.	Second Lien Term Loan	LIBOR (Q)	1.25	%	8.75	%	10.04	%		7/22/2020	$	15,981,496		15,760,804			16,091,368			1.08	%	G
Findly Talent, LLC	Membership Units													708,229			230,938			143,133			0.01	%		C/E
NEP/NCP Holdco, Inc.	Second Lien Term Loan	LIBOR (M)	1.00	%	7.00	%	8.22	%		1/23/2023	$	11,536,391		11,507,550			11,615,704			0.78	%
STG-Fairway Holdings, LLC (First Advantage)	Class A Units													841,479			325,432			779,714			0.06	%		C/E
														33,008,354			31,768,122			2.13	%
																	556,370			922,847			0.07	%
Real Estate Leasing
Chemicals
Daymark Financial Acceptance, LLC	First Lien Delayed Draw Term Loan	LIBOR (Q)	—		9.50	%	10.67	%		1/12/2020	$	15,000,000		14,856,914			14,703,000			0.99	%
Green Biologics, Inc.	Warrants to Purchase Stock													909,300			272,807			1,000			-			C/E
Home Partners of America, Inc.	First Lien Term Loan	LIBOR (M)	1.00	%	7.00	%	8.16	%		10/13/2022	$	5,000,000		4,910,899			5,050,000			0.34	%
Nanosys, Inc.	Warrants to Purchase Common Stock													800,000			605,266			640,640			0.05	%		C/E
														19,767,813			19,753,000			1.33	%
																	878,073			641,640			0.05	%
Restaurants
Communications Equipment Manufacturing
RM OpCo, LLC (Real Mex)	Convertible Second Lien Term Loan Tranche B-1	Fixed	—		8.50	%	8.50	%		3/30/2018	$	2,028,390		2,028,390			2,028,390			0.14	%	B
Wasserstein Cosmos Co-Invest, L.P. (Globecomm)	Limited Partnership Units													5,000,000			5,000,000			233,000			0.02	%		B/C/E
RM OpCo, LLC (Real Mex)	First Lien Term Loan Tranche A	Fixed	—		7.00	%	7.00	%		3/30/2018	$	4,884,985		4,601,599			4,884,985			0.33	%	B
Computer Systems Design and Related Services
RM OpCo, LLC (Real Mex)	Second Lien Term Loan Tranche B	Fixed	—		8.50	%	8.50	%		3/30/2018	$	10,106,771		10,106,771			909,609			0.06	%	B
Waterfall International, Inc.	Series B Preferred Stock													1,428,571			1,000,000			1,025,143			0.07	%		C/E
RM OpCo, LLC (Real Mex)	Second Lien Term Loan Tranche B-1	Fixed	—		8.50	%	8.50	%		3/30/2018	$	3,182,967		3,167,544			3,182,967			0.21	%	B
Waterfall International, Inc.	Warrants to Purchase Stock													920,000			89,847			55,752			-			C/E
RM OpCo, LLC (Real Mex)	Sr Convertible Second Lien Term Loan B	Fixed	—		8.50	%	8.50	%		3/30/2018	$	6,353,050		6,353,050			6,353,050			0.43	%	B
																	1,089,847			1,080,895			0.07	%
														26,257,354			17,359,001			1.17	%
Data Processing and Hosting Services
Retail
Anacomp, Inc.	Class A Common Stock													1,255,527			26,711,047			1,117,419			0.08	%		C/E/F
Bon-Ton, Inc.	First Lien Tranche A-1 Revolver	LIBOR (Q)	1.00	%	9.50	%	10.68	%		3/15/2021	$	4,432,934		4,358,255			4,376,636			0.29	%
Rightside Group, Ltd.	Warrants													498,855			2,778,622			738,685			0.05	%		C/E
The Gymboree Corporation	Super Priority Debtor-in-Possession	LIBOR (M)	1.00	%	11.00	%	12.20	%		12/11/2017	$	12,778,227		12,583,815			12,778,227			0.86	%
																	29,489,669			1,856,104			0.13	%
														16,942,070			17,154,863			1.15	%
Educational Support Services
Satellite Telecommunications
Edmentum Ultimate Holdings, LLC	Class A Common Units													159,515			680,226			1,123,589			0.08	%		B/C/E
Avanti Communications Group, PLC (United Kingdom)	Sr New Money Initial Note	Fixed	—		10.00	%	10.00	%		10/1/2021	$	1,273,204		1,238,381			1,126,786			0.08	%	E/G/H
Electric Power Generation, Transmission and Distribution
Avanti Communications Group, PLC (United Kingdom)	Sr Second-Priority PIK Toggle Note	Fixed	—		10.00	%	10.00	%		10/1/2021	$	3,248,857		3,162,750			2,875,239			0.19	%	E/G/H
GlassPoint Solar, Inc.	Warrants to Purchase Series C-1 Preferred Stock													1,100,000			265,618			275,330			0.02	%		C/E
Avanti Communications Group, PLC (United Kingdom)	Sr Secured Third-Priority Note	Fixed	—		12.00	%	12.00	%		10/1/2023	$	6,729,804		3,381,991			2,624,624			0.18	%	E/G/H
Electrical Equipment Manufacturing
														7,783,122			6,626,649			0.45	%
NEXTracker, Inc.	Series B Preferred Stock													558,884			-			1,548,109			0.11	%		E
Scientific Research and Development Services
NEXTracker, Inc.	Series C Preferred Stock													17,640			-			48,863			-			E
BPA Laboratories, Inc.	Second Lien Term Loan	LIBOR (Q)	—		2.50	%	3.67	%		4/29/2020	$	3,081,346		1,878,682			2,649,957			0.18	%
																	-			1,596,972			0.11	%
Envigo Holdings, Inc.	First Lien Term Loan	LIBOR (Q)	1.00	%	8.50	%	9.54	%		11/3/2021	$	36,915,301		36,319,490			36,961,445			2.48	%	G
Electronic Component Manufacturing
														38,198,172			39,611,402			2.66	%
Soraa, Inc.	Warrants to Purchase Common Stock													3,071,860			478,899			9,216			-			C/E
Textile Furnishings Mills
Equipment Leasing
Lexmark Carpet Mills, Inc.	First Lien Term Loan	LIBOR (Q)	1.00	%	10.00	%	11.15	%		12/19/2019	$	22,337,104		22,337,104			22,560,475			1.52	%
36th Street Capital Partners Holdings, LLC	Membership Units													7,280,139			7,280,139			8,664,822			0.62	%		C/E/F
Lexmark Carpet Mills, Inc.	First Lien Term Loan B	LIBOR (Q)	1.00	%	10.00	%	11.15	%		12/19/2019	$	7,662,146		7,545,749			7,738,767			0.52	%
Essex Ocean II, LLC	Membership Units													199,430			103,398			-			-			C/E/F
														29,882,853			30,299,242			2.04	%
																	7,383,537			8,664,822			0.62	%
Traveler Arrangement
Financial Investment Activities
CIBT Solutions, Inc.	Second Lien Term Loan	LIBOR (Q)	1.00	%	7.75	%	9.05	%		6/1/2025	$	7,611,914		7,535,841			7,726,092			0.52	%
GACP I, LP	Membership Units													18,520,966			18,611,983			18,891,480			1.35	%		C/E/I
Marsico Holdings, LLC	Common Interest Units													168,698			172,694			1,687			-			C/E/I
																	18,784,677			18,893,167			1.35	%
Metal and Mineral Mining
EPMC HoldCo, LLC	Membership Units													1,312,720			-			210,035			0.02	%		B/E
Motion Picture and Video Industries
NEG Parent, LLC	Class A Units													1,182,779			1,235,194			1,278,702			0.09	%		C/E
NEG Parent, LLC	Class P Units													1,537,613			1,537,613			1,548,376			0.11	%		C/E
NEG Parent, LLC	Class A Warrants to Purchase Class A Units													343,387			196,086			193,842			0.01	%		C/E
NEG Parent, LLC	Class B Warrants to Purchase Class A Units													346,794			198,032			195,765			0.02	%		C/E
																	3,166,925			3,216,685			0.23	%
Other Information Services
SoundCloud, Ltd. (United Kingdom)	Warrants to Purchase Preferred Stock													946,498			79,082			81,304			0.01	%		C/E/H
Other Manufacturing
AGY Holding Corp.	Common Stock													1,333,527			-			-			-			B/C/E
Boomerang Tube Holdings, Inc.	Common Stock													24,288			243			-			-			C/E
KAGY Holding Company, Inc.	Series A Preferred Stock													9,778			1,091,200			5,213,117			0.37	%		B/C/E
																	1,091,443			5,213,117			0.37	%
Radio and Television Broadcasting
Fuse Media, LLC	Warrants to Purchase Common Stock													233,470			300,322			-			-			C/E
Restaurants
RM Holdco, LLC (Real Mex)	Equity Participation													24			-			-			-			B/C/E
RM Holdco, LLC (Real Mex)	Membership Units													13,161,000			2,010,777			-			-			B/C/E
																	2,010,777			-			-
Retail
Shop Holding, LLC (Connexity)	Class A Units													507,167			480,049			-			-			C/E

~~Table~~Special ofValue ~~Contents~~Continuation Partners, LP

~~Special Value Continuation Partners, LP~~ (A Delaware Limited Partnership)

Consolidated Schedule of Investments (~~Continued~~Unaudited) (~~Unaudited~~Continued)

~~March~~June 3130, 2017

Issuer	Instrument	Ref	Floor		Spread	~~Spread~~	Total Coupon		~~Total Coupon~~	Maturity	Principal or Shares	~~Maturity~~	~~Shares~~	Cost		~~Cost~~	FairValue		~~Fair Value~~	% of TotalCash andInvestments		~~% of Total Cash and Investments~~Notes			~~Notes~~
Equity Securities (continued)
Debt Investments (continued)
Satellite Telecommunications
Software Publishing
Avanti Communications Group, PLC (United Kingdom)	Common Stock													245,368		$	3,086		$	40,032			-			C/D/H
Acronis International GmbH (Switzerland)	First Lien Term Loan	LIBOR (Q)	1.00	%	13.50	%	14.81	%		7/15/2017	$	22,464,983		$	22,471,612		$	22,464,983		1.51	%	H
Software Publishing
Actifio, Inc.	First Lien Term Loan	LIBOR (M)	1.00	%	7.50% Cash +1.00% PIK		9.75	%		11/1/2020	$	35,114,689		34,594,446			34,574,625			2.32	%
Blackline Intermediate, Inc.	Warrants to Purchase Common Stock													246,546			522,678			5,951,872			0.43	%		C/E
ArcServe (USA), LLC	Second Lien Term Loan	LIBOR (Q)	0.50	%	8.50% Cash +1.25% PIK		11.05	%		1/31/2020	$	30,427,390		30,108,475			29,963,373			2.01	%
Soasta, Inc.	Warrants to Purchase Series F Preferred Stock													1,251,630			533,192			887,281			0.07	%		C/E
Autoalert, LLC	First Lien Term Loan	LIBOR (Q)	0.25	%	5.75% Cash +3.00% PIK		10.06	%		3/31/2019	$	36,505,910		36,226,717			36,861,842			2.48	%
Tradeshift, Inc.	Warrants to Purchase Series D Preferred Stock													1,712,930			577,843			564,068			0.04	%
Bond International Software, Inc. (United Kingdom)	First Lien Term Loan	LIBOR (Q)	1.00	%	10.00	%	11.24	%		11/4/2021	$	26,358,696		25,802,067			25,798,573			1.73	%	H
Utilidata, Inc.	Warrants to Purchase Preferred Stock													719,998			216,336			57,240			-			C/E
Fishbowl, Inc.	First Lien Term Loan	LIBOR (Q)	—		2.80% Cash +8.45% PIK		12.56	%		1/26/2022	$	18,866,692		18,287,336			18,506,338			1.24	%
																	1,850,049			7,460,461			0.54	%
Mapp Digital US, LLC	First Lien Term Loan	LIBOR (Q)	—		9.50	%	10.81	%		12/31/2017	$	5,621,605		5,587,194			5,624,416			0.38	%
Utility System Construction
Newscycle Solutions, Inc.	Second Lien Term Loan	LIBOR (Q)	—		13.00	%	14.22	%		9/10/2021	$	11,513,362		11,223,852			11,729,238			0.79	%
Kawa Solar Holdings Limited (Cayman Islands)	Ordinary Shares													2,332,594			-			-			-			C/E/F/H
Newscycle Solutions AB (Sweden)	Second Lien Term Loan B	LIBOR (Q)	—		13.00	%	14.22	%		9/10/2021	$	11,513,362		11,223,852			11,729,238			0.79	%	H
Kawa Solar Holdings Limited (Cayman Islands)	Series B Preferred Shares													93,023			1,395,349			1,395,583			0.10	%		C/E/F/H
Tradeshift Holdings, Inc.	First Lien Delayed Draw Term Loan (7.0% Exit Fee)	LIBOR (M)	—		8.88	%	10.13	%		9/1/2020	$	11,470,517		10,714,811			10,882,003			0.73	%	L
																	1,395,349			1,395,583			0.10	%
Utilidata, Inc.	First Lien Delayed Draw Term Loan (1.0% Exit Fee)	LIBOR (M)	0.62	%	9.88	%	11.06	%		1/1/2019	$	2,498,180		2,440,308			2,461,582			0.17	%	L
Wired Telecommunications Carriers
														208,680,670			210,596,211			14.15	%
V Telecom Investment S.C.A. (Vivacom) (Luxembourg)	Common Shares													1,393			3,236,256			2,228,100			0.16	%		C/D/E/H
Utility System Construction
Total Equity Securities																	85,792,899			64,901,971			4.65	%
GlassPoint Solar, Inc.	First Lien Term Loan (5.0% Exit Fee)	LIBOR (M)	—		11.44	%	12.69	%		8/1/2020	$	4,000,000		3,645,405			3,776,416			0.25	%	L
Total Investments																$	1,364,988,287		$	1,338,509,786
GlassPoint Solar, Inc.	First Lien Delay Draw Term Loan A	LIBOR (M)	—		11.44	%	N/A			8/1/2020	$	—		—			—			—
Cash and Cash Equivalents
GlassPoint Solar, Inc.	First Lien Delay Draw Term Loan B	LIBOR (M)	—		11.44	%	N/A			8/1/2020	$	—		—			—			—
Cash Held on Account at Various Institutions																				55,964,496			4.01	%
Holocene Renewable Energy Fund 3, LLC (Conergy)	First Lien Term Loan	Fixed	—		9.00% Cash +1.00% PIK		10.00	%		9/10/2017	$	7,575,330		7,568,814			7,574,572			0.51	%
Cash and Cash Equivalents																				55,964,496			4.01	%
Kawa Solar Holdings Limited (Conergy) (Cayman Islands)	Bank Guarantee Credit Facility	Fixed	—		8.20% Cash +3.50% PIK		11.70	%		7/2/2018	$	17,561,530		17,561,530			17,561,530			1.18	%	F/H
Total Cash and Investments																			$	1,394,474,282			100.00	%		L
Kawa Solar Holdings Limited (Conergy) (Cayman Islands)	Revolving Credit Facility	LIBOR (Q)	—		8.20	%	9.50	%		7/2/2018	$	11,405,774		11,405,774			6,593,108			0.44	%	F/H
														40,181,523			35,505,626			2.38	%
Wholesalers
NILCO, LLC	First Lien Term Loan	LIBOR (Q)	1.00	%	9.50	%	10.80	%		9/1/2021	$	20,490,879		19,960,556			20,900,696			1.40	%
Wired Telecommunications Carriers
Alpheus Communications, LLC	First Lien Delayed Draw FILO Term Loan	LIBOR (M)	1.00	%	7.42	%	8.77	%		5/31/2018	$	327,646		324,389			324,206			0.02	%
Alpheus Communications, LLC	First Lien Delayed Draw FILO Term Loan	LIBOR (M)	1.00	%	7.42	%	8.67	%		5/31/2018	$	1,329,988		1,323,203			1,312,270			0.09	%
Alpheus Communications, LLC	First Lien FILO Term Loan	LIBOR (M)	1.00	%	7.42	%	8.74	%		5/31/2018	$	7,158,978		7,087,808			7,083,809			0.48	%
														8,735,400			8,720,285			0.59	%
Wireless Telecommunications Carriers
Gogo, LLC	Sr Secured Notes	Fixed	—		12.50	%	12.50	%		7/1/2022	$	10,000,000		10,000,000			11,393,750			0.77	%	E/G
Total Debt Investments														1,381,439,231			1,378,054,732			92.64	%
Equity Securities
Advertising, Public Relations and Marketing
Foursquare Labs, Inc.	Warrants to Purchase Series E Preferred Stock										1,125,000			185,450			185,400			0.01	%	C/E
InMobi, Inc. (Singapore)	Warrants to Purchase Stock										1,049,996			276,492			483,103			0.03	%	C/E/H
														461,942			668,503			0.04	%

Special Value Continuation Partners, LP

(A Delaware Limited Partnership)

Consolidated Schedule of Investments (Unaudited) (Continued)

June 30, 2017



Issuer	Instrument	Ref	Floor	Spread	Total Coupon	Maturity	Shares	Cost		Fair Value		% of Total Cash and Investments		Notes
Equity Securities (continued)
Air Transportation
Aircraft Leased to United Airlines, Inc.
United N659UA-767, LLC (N659UA)	Trust Beneficial Interests						683	$	3,070,035	$	3,058,078	0.21	%	E/F
United N661UA-767, LLC (N661UA)	Trust Beneficial Interests						688	3,184,436		3,131,498		0.21	%	E/F
Epic Aero, Inc. (One Sky)	Warrants to Purchase Common Stock						1,843	855,313		3,524,111		0.24	%	C/E
								7,109,784		9,713,687		0.66	%
Business Support Services
Findly Talent, LLC	Membership Units						708,229	230,938		143,133		0.01	%	C/E
STG-Fairway Holdings, LLC (First Advantage)	Class A Units						841,479	325,432		501,185		0.03	%	C/E
								556,370		644,318		0.04	%
Chemicals
Green Biologics, Inc.	Warrants to Purchase Stock						909,300	272,807		1,455		—		C/E
Nanosys, Inc.	Warrants to Purchase Common Stock						800,000	605,266		832,160		0.06	%	C/E
								878,073		833,615		0.06	%
Communications Equipment Manufacturing
Wasserstein Cosmos Co-Invest, L.P. (Globecomm)	Limited Partnership Units						5,000,000	5,000,000		500		—		B/C/E

Computer Systems Design and Related Services
Waterfall International, Inc.	Series B Preferred Stock						1,428,571	1,000,000		971,000		0.07	%	C/E
Waterfall International, Inc.	Warrants to Purchase Stock						920,000	89,847		6,440		—		C/E
								1,089,847		977,440		0.07	%
Data Processing and Hosting Services
Anacomp, Inc.	Class A Common Stock						1,255,527	26,711,049		1,117,418		0.08	%	C/E/F
Rightside Group, Ltd.	Warrants						498,855	2,778,622		24,209		—		C/E
								29,489,671		1,141,627		0.08	%
Educational Support Services
Edmentum Ultimate Holdings, LLC	Class A Common Units						159,515	680,226		358,908		0.03	%	B/C/E

Electrical Equipment Manufacturing
NEXTracker, Inc.	Series B Preferred Stock						558,884	—		681,838		0.05	%	E
NEXTracker, Inc.	Series C Preferred Stock						17,640	—		21,521		—		E
								—		703,359		0.05	%
Electronic Component Manufacturing
Soraa, Inc.	Warrants to Purchase Common Stock						3,071,860	478,899		4,915		—		C/E

Equipment Leasing
36th Street Capital Partners Holdings, LLC	Membership Units						8,197,779	8,197,779		10,907,145		0.73	%	C/E/F
Essex Ocean II, LLC	Membership Units						199,430	103,398		—		—		C/E/F
								8,301,177		10,907,145		0.73	%
Financial Investment Activities
GACP I, LP	Membership Units						22,128,907	22,218,711		22,571,579		1.52	%	E/I
Marsico Holdings, LLC	Common Interest Units						168,698	172,694		1,687		—		C/E/I
								22,391,405		22,573,266		1.52	%
Metal and Mineral Mining
EPMC HoldCo, LLC	Membership Units						1,312,720	—		210,035		0.02	%	B/E

Motion Picture and Video Industries
NEG Parent, LLC	Class A Units						2,720,392	2,772,807		3,330,032		0.22	%	C/E
NEG Parent, LLC	Class A Warrants to Purchase Class A Units						343,387	196,086		52,435		—		C/E
NEG Parent, LLC	Class B Warrants to Purchase Class A Units						346,794	198,032		52,955		—		C/E
								3,166,925		3,435,422		0.22	%

Special Value Continuation Partners, LP

(A Delaware Limited Partnership)

Consolidated Schedule of Investments (Unaudited) (Continued)

June 30, 2017



Issuer	Instrument	Ref	Floor	Spread	Total Coupon	Maturity	Shares	Cost		Fair Value		% of Total Cash and Investments		Notes
Equity Securities (continued)
Other Information Services
SoundCloud, Ltd. (United Kingdom)	Warrants to Purchase Preferred Stock						946,498	$	79,082	$	45,811	—		C/E/H

Other Manufacturing
AGY Holding Corp.	Common Stock						1,333,527	—		—		—		B/C/E
KAGY Holding Company, Inc.	Series A Preferred Stock						9,778	1,091,200		9,082,655		0.61	%	B/C/E
								1,091,200		9,082,655		0.61	%
Plastics Manufacturing
Iracore Investments Holdings, Inc.	Class A Common Stock						16,207	4,177,710		3,119,413		0.21	%	B/C/E

Radio and Television Broadcasting
Fuse Media, LLC	Warrants to Purchase Common Stock						233,470	300,322		—		—		C/E

Restaurants
RM Holdco, LLC (Real Mex)	Equity Participation						24	—		—		—		B/C/E
RM Holdco, LLC (Real Mex)	Membership Units						13,161,000	2,010,777		—		—		B/C/E
								2,010,777		—		—
Retail
Shop Holding, LLC (Connexity)	Class A Units						507,167	480,049		—		—		C/E

Satellite Telecommunications
Avanti Communications Group, PLC (United Kingdom)	Common Stock						245,368	3,086		31,160		—		C/D/H

Software Publishing
Actifio, Inc.	Warrants to Purchase Series F Preferred Stock						1,052,651	188,770		188,846		0.01	%	C/E
Blackline, Inc.	Common Stock						7,852	19,445		280,630		0.02	%	C/J
Tradeshift, Inc.	Warrants to Purchase Series D Preferred Stock						1,712,930	577,843		506,685		0.03	%	C/E
Utilidata, Inc.	Warrants to Purchase Preferred Stock						719,998	216,336		57,312		—		C/E
								1,002,394		1,033,473		0.06	%
Utility System Construction
GlassPoint Solar, Inc.	Warrants to Purchase Series C-1 Preferred Stock						1,100,000	248,555		256,630		0.02	%	C/E
Kawa Solar Holdings Limited (Conergy) (Cayman Islands)	Ordinary Shares						2,332,594	—		—		—		C/E/F/H
Kawa Solar Holdings Limited (Conergy) (Cayman Islands)	Series B Preferred Shares						93,023	1,395,349		243		—		C/E/F/H
								1,643,904		256,873		0.02	%
Wired Telecommunications Carriers
V Telecom Investment S.C.A. (Vivacom) (Luxembourg)	Common Shares						1,393	3,236,256		2,150,999		0.15	%	C/D/E/H

Total Equity Securities								93,629,099		67,893,124		4.57	%

Total Investments								$	1,475,068,330	$	1,445,947,856

Cash and Cash Equivalents
Cash Held on Account at Various Institutions										21,573,835		1.45	%
Wells Fargo Government Money Market Fund										13,000,000		0.87	%
Morgan Stanley Institutional Liquidity Funds-Treasury Securities Portfolio										7,000,000		0.47	%
Cash and Cash Equivalents										41,573,835		2.79	%

Total Cash and Investments										$	1,487,521,691	100.00	%	M

Special Value Continuation Partners, LP

(A Delaware Limited Partnership)

Consolidated Schedule of Investments (Unaudited) (Continued)

June 30, 2017

Notes to Consolidated Schedule of Investments:


(A)	Investments in bank debt generally are bought and sold among institutional investors in transactions not subject to registration under the Securities Act of 1933. Such transactions are generally subject to contractual restrictions, such as approval of the agent or borrower.


(B)	Non-controlled affiliate – as defined under the Investment Company Act of 1940 (ownership of between 5% and 25% of the outstanding voting securities of this issuer). See Consolidated Schedule of Changes in Investments in Affiliates.


(C)	Non-income producing security.


(D)	Investment denominated in foreign currency. Amortized cost and fair value converted from foreign currency to US dollars. Foreign currency denominated investments are generally hedged for currency exposure.


(E)	Restricted security. (See Note 2)


(F)	Controlled issuer – as defined under the Investment Company Act of 1940 (ownership of 25% or more of the outstanding voting securities of this issuer). Investment is not more than 50% of the outstanding voting securities of the issuer nor deemed to be a significant subsidiary. See Consolidated Schedule of Changes in Investments in Affiliates.


(G)	Investment has been segregated to collateralize certain unfunded commitments.

(H) Non-U.S. company or principal place of business outside the U.S. and as a result the investment is not a qualifying asset under Section 55(a) of the Investment Company Act. Under the Investment Company Act, the Partnership may not acquire any non-qualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70% of the Partnership’'s total assets.

(I) Deemed an investment company under Section 3(c) of the Investment Company Act and as a result the investment is not a qualifying asset under Section 55(a) of the Investment Company Act. Under the Investment Company Act, the Partnership may not acquire any non-qualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70% of the Partnership’'s total assets.

(J) ~~Negative~~Publicly ~~balances~~traded ~~relate~~company towith ana ~~unfunded~~market ~~commitment~~capitalization ~~that~~greater ~~was~~than ~~acquired~~$250 million and~~/or~~ ~~valued~~as ata result the investment is not a ~~discount~~qualifying asset under Section 55(a) of the Investment Company Act. Under the Investment Company Act, the Partnership may not acquire any non-qualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70% of the Partnership's total assets.

(K) InNegative ~~addition~~balances relate to ~~the stated coupon, investment has~~ an ~~exit~~unfunded ~~fee~~commitment ~~payable~~that ~~upon~~was ~~repayment~~acquired ofand/or ~~the~~valued ~~loan~~at ina ~~an amount equal to the percentage of the original principal amount shown~~discount.

(L) ~~All~~In ~~cash~~addition ~~and~~to ~~investments,~~the ~~except~~stated ~~those~~coupon, ~~referenced~~investment inhas ~~Notes~~an Gexit ~~above,~~fee ~~are~~payable ~~pledged~~upon asrepayment ~~collateral~~of ~~under~~the ~~certain~~loan ~~debt~~in asan ~~described~~amount inequal ~~Note~~to 4the topercentage of the ~~Consolidated~~original ~~Financial~~principal ~~Statements~~amount shown.


(M)	All cash and investments, except those referenced in Notes G above, are pledged as collateral under certain debt as described in Note 4 to the Consolidated Financial Statements.

LIBOR or EURIBOR resets monthly (M), quarterly (Q), semiannually (S), or annually (A).

Aggregate acquisitions and aggregate dispositions of investments, other than government securities, totaled $~~139~~406,~~793~~711,~~080~~065 and $~~117~~276,~~033~~001,~~249~~320, respectively, for the ~~three~~six months ended ~~March~~June 3130, 2017. Aggregate acquisitions includes investment assets received as payment in kind. Aggregate dispositions includes principal paydowns on and maturities of debt investments. The total value of restricted securities and bank debt as of ~~March~~June 3130, 2017 was $1,~~337~~445,~~798~~636,~~489~~066 or 9597.92% of total cash and investments of the Partnership. As of ~~March~~June 3130, 2017, approximately 13 14.86% of the total assets of the Partnership were not qualifying assets under Section 55(a) of the 1940 Act.



Options and Swaps at June 30, 2017 were as follows:

Investment	Notional Amount		Fair Value
Euro/US Dollar Cross-Currency Basis Swap with Wells Fargo Bank, N.A., Pay Euros/Receive USD, Expires 5/31/2019	$	7,270,250	$	(171,006	)

See accompanying notes to the consolidated financial statements.

710

~~Table~~Special ofValue ~~Contents~~Continuation Partners, LP

~~Special Value Continuation Partners, LP~~ (A Delaware Limited Partnership)

Consolidated Schedule of Investments

December 31, 2016

Issuer	Instrument	Ref	Floor			Spread	~~Spread~~		Total Coupon		~~Total Coupon~~	Maturity		Principal	~~Maturity~~	~~Principal~~	Cost			~~Cost~~	FairValue			~~Fair Value~~	% of TotalCash andInvestments		~~% of Total Cash and Investments~~Notes			~~Notes~~
Debt Investments (A)
Activities Related to Credit Intermediation
Pegasus Business Intelligence, LP (Onyx Centersource)	First Lien Term Loan	LIBOR (Q)	1.00	~~1.00~~%	%	6.75	%	~~6.75~~	%7.75	%		~~7.75~~12/20/2021	%	$	~~12/20/2021~~14,769,821	$	~~14,769,821~~$	14,623,499		$	~~14,623,499~~$	14,622,123		$	~~14,622,123~~1.07	%		~~1.07~~	%
Pegasus Business Intelligence, LP (Onyx Centersource)	Revolver	LIBOR (Q)	1.00	~~1.00~~%	%	6.75	%	~~6.75~~	%N/A			N12/A20/2021		$	~~12/20/2021~~—	$	–(6,669		)		(6,~~669~~713	)	)		~~(6,713~~—	)	J	-			J
iPayment, Inc.	First Lien Term Loan B2	LIBOR (Q)	1.50	~~1.50~~%	%	5.25	%	~~5.25~~	%6.75	%		~~6.75~~5/8/2017	%	$	~~5/8/2017~~11,289,051	$	11,~~289~~134,~~051~~310				1110,~~134~~893,~~310~~934				~~10,893,934~~0.80	%		~~0.80~~	%
																	25,751,140				25,~~751~~509,~~140~~344				~~25,509,344~~1.87	%		~~1.87~~	%
Activities Related to Real Estate
Associations, Inc.	First Lien FILO Term Loan	LIBOR (Q)	1.00	~~1.00~~%	%	8.96	%	~~8.96~~	%9.96	%		~~9.96~~12/23/2019	%	$	12~~/23/2019~~,891,845	$	12,~~891~~773,~~845~~127				12,~~773~~898,~~127~~291				~~12,898,291~~0.94	%		~~0.94~~	%
Advertising and Public Relations Services
InMobi, Inc. (Singapore)	First Lien Delayed Draw Tranche 1 Term Loan (1.25% Exit Fee)	LIBOR (M)	0.33	~~0.33~~%	%	10.17	%	~~10.17~~	%10.98	%		~~10.98~~9/1/2018	%	$	~~9/1/2018~~15,000,000	$	1514,~~000~~772,~~000~~946				14,~~772~~704,~~946~~508				~~14,704,508~~1.07	%	H/K	~~1.07~~	%		~~H/K~~
InMobi, Inc. (Singapore)	First Lien Delayed Draw Tranche 2 Term Loan	LIBOR (M)	0.33	~~0.33~~%	%	10.17	%	~~10.17~~	%N/A			N9/A1/2018		$	~~9/1/2018~~—	$	–—				-—				-—		H	-			H
InMobi, Inc. (Singapore)	First Lien Delayed Draw Tranche 3 Term Loan	LIBOR (M)	0.33	~~0.33~~%	%	10.17	%	~~10.17~~	%N/A			N9/A1/2018		$	~~9/1/2018~~—	$	–—				-—				-—		H	-			H
																	14,772,946				14,~~772~~704,~~946~~508				~~14,704,508~~1.07	%		~~1.07~~	%
Air Transportation
Mesa Air Group, Inc.	Acquisition Loan	LIBOR (M)	—	-		7.25	%	~~7.25~~	%8.00	%		~~8.00~~7/15/2022	%	$	~~7/15/2022~~14,042,971	$	1413,~~042~~839,~~971~~296				1314,~~839~~323,~~296~~830				~~14,323,830~~1.05	%		~~1.05~~	%
Mesa Airlines, Inc.	Engine Acquisition Delayed Draw Term Loan A	LIBOR (M)	—	-		7.25	%	~~7.25~~	%8.00	%		~~8.00~~12/14/2021	%	$	~~12/14/2021~~16,546,652	$	16,~~546~~259,~~652~~013				16,~~259~~257,~~013~~105				~~16,257,105~~1.19	%		~~1.19~~	%
Mesa Airlines, Inc.	Engine Acquisition Delayed Draw Term Loan B	LIBOR (M)	—	-		7.25	%	~~7.25~~	%N/A			N2/A28/2022		$	~~2/28/2022~~—	$	–—				-—				-—			-
Mesa Airlines, Inc.	Engine Acquisition Delayed Draw Term Loan C	LIBOR (M)	—	-		7.25	%	~~7.25~~	%N/A			N12/A31/2022		$	~~12/31/2022~~—	$	–—				-—				-—			-
																	30,098,309				30,~~098~~580,~~309~~935				~~30,580,935~~2.24	%		~~2.24~~	%
Amusement and Recreation
AP Gaming I, LLC	First Lien Revolver	LIBOR (M)	—	-		8.25	%	~~8.25~~	%N/A			N12/A20/2018		$	~~12/20/2018~~—	$	–(1,655,756		)		(1937,~~655,756~~500	)	)		(~~937,500~~0.07	)%	J	~~(0.07~~	%)		J
VSS-Southern Holdings, LLC	First Lien Term Loan	LIBOR (Q)	1.00	~~1.00~~%	%	6.50% Cash+2.00% PIK		~~6.5% Cash + 2% PIK~~	9.50	%		~~9.50~~11/3/2020	%	$	~~11/3/2020~~24,220,291	$	2423,~~220~~755,~~291~~180				23,~~755~~735,~~180~~885				~~23,735,885~~1.73	%		~~1.73~~	%
VSS-Southern Holdings, LLC	Sr Secured Revolver	LIBOR (Q)	1.00	~~1.00~~%	%	6.50% Cash+2.00% PIK		~~6.5% Cash + 2% PIK~~	N/A			N11/A3/2020		$	~~11/3/2020~~—	$	–(16,444		)		(1617,~~444~~123	)	)		~~(17,123~~—	)	J	-			J
																	22,082,980				22,~~082~~781,~~980~~262				~~22,781,262~~1.66	%		~~1.66~~	%
Apparel Manufacturing
Broder Bros., Co.	First Lien Term Loan (First Out)	LIBOR (Q)	1.25	~~1.25~~%	%	5.75	%	~~5.75~~	%7.00	%		~~7.00~~6/3/2021	%	$	~~6/3/2021~~9,700,000	$	9,~~700~~541,~~000~~402				9,~~541~~700,~~402~~000				~~9,700,000~~0.71	%		~~0.71~~	%
Broder Bros., Co.	First Lien Term Loan B (Last Out)	LIBOR (Q)	1.25	~~1.25~~%	%	12.25	%	~~12.25~~	%13.50	%		~~13.50~~6/3/2021	%	$	~~6/3/2021~~9,800,000	$	9,~~800~~646,~~000~~339				9,~~646~~800,~~339~~000				~~9,800,000~~0.72	%		~~0.72~~	%
JH Apparel Holdings, LLC	First Lien FILO Term Loan	LIBOR (M)	1.00	~~1.00~~%	%	9.60	%	~~9.60~~	%10.60	%		~~10.60~~4/8/2019	%	$	~~4/8/2019~~2,714,632	$	2,~~714~~705,~~632~~143				2,~~705~~741,~~143~~779				~~2,741,779~~0.20	%		~~0.20~~	%
																	21,892,884				2122,~~892~~241,~~884~~779				~~22,241,779~~1.63	%		~~1.63~~	%
Building Equipment Contractors
Hylan Datacom & Electrical, LLC	First Lien Delayed Draw Term Loan	LIBOR (Q)	1.00	~~1.00~~%	%	7.50	%	~~7.50~~	%8.50	%		~~8.50~~7/25/2021	%	$	~~7/25/2021~~—	$	–—				-—				-—			-
Hylan Datacom & Electrical, LLC	First Lien Term Loan	LIBOR (Q)	1.00	~~1.00~~%	%	7.50	%	~~7.50~~	%8.50	%		~~8.50~~7/25/2021	%	$	~~7/25/2021~~14,295,589	$	14,~~295~~092,~~589~~734				14,~~092~~188,~~734~~374				~~14,188,374~~1.04	%		~~1.04~~	%
																	14,092,734				14,~~092~~188,~~734~~374				~~14,188,374~~1.04	%		~~1.04~~	%
Business Support Services
Enerwise Global Technologies, Inc.	Sr Secured Revolving Loan	LIBOR (Q)	0.23	~~0.23~~%	%	8.52	%	~~8.52~~	%N/A			N11/A30/2018		$	~~11/30/2018~~—	$	–(17,798		)		~~(17~~70,~~798~~000	)			~~70,000~~0.01	%	J	~~0.01~~	%		J
Enerwise Global Technologies, Inc.	Sr Secured Term Loan (1.0% Exit Fee)	LIBOR (Q)	0.23	~~0.23~~%	%	9.27	%	~~9.27~~	%10.12	%		~~10.12~~11/30/2019	%	$	~~11/30/2019~~23,937,500	$	23,~~937~~867,~~500~~666				2324,~~867~~356,~~666~~406				~~24,356,406~~1.78	%	K	~~1.78~~	%		K
STG-Fairway Acquisitions, Inc. (First Advantage)	Second Lien Term Loan	LIBOR (Q)	1.00	~~1.00~~%	%	9.25	%	~~9.25~~	%10.25	%		~~10.25~~6/30/2023	%	$	~~6/30/2023~~31,000,000	$	3130,~~000~~588,~~000~~757				30,~~588~~336,~~757~~600				~~30,336,600~~2.22	%		~~2.22~~	%
																	54,438,625				54,~~438~~763,~~625~~006				~~54,763,006~~4.01	%		~~4.01~~	%
Chemicals
Anuvia Plant Nutrients Holdings, LLC	Sr Secured Term Loan (8.0% Exit Fee)	LIBOR (Q)		-				10.63	%			11.63	%		2/1/2018	$	7,563,676				7,995,360				8,250,457			0.60	%		K
Green Biologics, Inc.	Sr Secured Delayed Draw Term Loan (12.4% Exit Fee)	Prime Rate		-				7.75	%			11.50	%		6/30/2019	$	15,000,000				15,468,439				14,905,500			1.09	%		K
iGM RFE1 B.V. (Netherlands)	First Lien Delayed Draw Term Loan	LIBOR (Q)		-				8.00	%			9.00	%		10/12/2021	$	253,581				245,565				251,684			0.02	%		H
iGM RFE1 B.V. (Netherlands)	First Lien Term Loan	LIBOR (Q)		-				8.00	%			9.00	%		10/12/2021	$	3,864,583				3,836,083				3,835,599			0.28	%		H
Nanosys, Inc.	First Lien Delayed Draw Term Loan (3.5% Exit Fee)	LIBOR (Q)		-				9.81	%			10.75	%		4/1/2019	$	10,000,000				9,526,456				9,712,000			0.71	%		K
																					37,071,903				36,955,240			2.70	%
Communications Equipment Manufacturing
Globecomm Systems, Inc.	First Lien Term Loan	LIBOR (Q)		1.25	%			7.63	%			8.88	%		12/11/2018	$	14,480,001				14,335,200				14,480,002			1.06	%		B
Triangle Acquisition Co. (Polycom)	First Lien Term Loan	LIBOR (Q)		1.00	%			6.50	%			7.50	%		9/27/2023	$	4,835,417				4,646,389				4,877,727			0.36	%
																					18,981,589				19,357,729			1.42	%
Computer Systems Design and Related Services
Aptos Inc. (Canada)	First Lien Term Loan	LIBOR (Q)		1.00	%			6.75	%			7.75	%		9/1/2022	$	9,975,000				9,784,353				9,875,250			0.72	%		H
Dealersocket, Inc.	Senior Secured 1st Lien Term Loan	LIBOR (M)		1.00	%			10.00	%			11.00	%		2/10/2021	$	17,500,000				16,884,459				17,291,750			1.26	%
MSC Software Corporation	Second Lien Term Loan	LIBOR (M)		1.00	%			7.50	%			8.50	%		5/29/2021	$	6,993,035				6,953,617				7,001,777			0.51	%
Marketo, Inc.	First Lien Term Loan	LIBOR (Q)		1.00	%			9.50	%			10.50	%		8/16/2021	$	23,295,455				22,630,922				22,887,784			1.67	%
Marketo, Inc.	Senior Secured Revolver	LIBOR (Q)		1.00	%			9.50	%			10.50	%		8/16/2021	$	–				(47,341	)			21,307			-			J
OnX Enterprise Solutions, Ltd. (Canada)	First Lien Term Loan B	LIBOR (Q)		-				8.00	%			8.90	%		9/3/2018	$	2,314,000				2,314,000				2,314,000			0.17	%		H
OnX Enterprise Solutions, Ltd. (Canada)	First Lien Term Loan	LIBOR (Q)		-				8.00	%			8.90	%		9/3/2018	$	10,320,000				10,268,787				10,320,000			0.75	%		H
OnX USA, LLC	First Lien Term Loan B	LIBOR (Q)		-				8.00	%			8.90	%		9/3/2018	$	3,738,000				3,738,000				3,738,000			0.27	%
OnX USA, LLC	First Lien Term Loan	LIBOR (Q)		-				8.00	%			8.90	%		9/3/2018	$	3,160,000				3,151,013				3,160,000			0.23	%
Waterfall International, Inc.	First Lien Delayed Draw Term Loan (3.0% Exit Fee)	LIBOR (Q)		-				11.67	%			12.48	%		9/1/2018	$	4,800,000				4,827,231				4,970,640			0.36	%		K
																					80,505,041				81,580,508			5.94	%
Data Processing and Hosting Services
IO Data Centers, USA, LLC	First Lien Term Loan	Fixed		-				9.00	%			9.00	%		1/15/2020	$	6,876,756				6,876,756				6,876,756			0.50	%
Electric Power Generation, Transmission and Distribution
Holocene Renewable Energy Fund 3, LLC (Conergy)	First Lien Term Loan	Fixed		-				9% Cash + 1% PIK				10.00	%		9/10/2017	$	7,518,173				7,491,471				7,442,991			0.54	%
Electronic Component Manufacturing
Soraa, Inc.	Tranche A Term Loan (3.0% Exit Fee)	LIBOR (Q)		0.44	%			9.33	%			10.15	%		3/1/2018	$	15,666,296				15,483,478				15,471,251			1.13	%		K
Soraa, Inc.	Tranche B Term Loan	LIBOR (Q)		0.44	%			9.33	%			10.15	%		9/1/2017	$	1,603,779				1,556,152				1,563,204			0.11	%
																					17,039,630				17,034,455			1.24	%

811

~~Table~~Special ofValue ~~Contents~~Continuation Partners, LP

~~Special Value Continuation Partners, LP~~ (A Delaware Limited Partnership)

Consolidated Schedule of Investments (Continued)

December 31, 2016

Issuer	Instrument	Ref	Floor			Spread	~~Spread~~		Total Coupon		~~Total Coupon~~	Maturity		Principal	~~Maturity~~	~~Principal~~	Cost			~~Cost~~	FairValue		~~Fair Value~~	% of TotalCash andInvestments		~~% of Total Cash and Investments~~Notes			~~Notes~~
Debt Investments (continued)
Equipment Leasing
Chemicals
36th Street Capital Partners Holdings, LLC	Senior Note	Fixed		-				12.00	%			12.00	%		11/1/2020	$	29,203,304			$	29,203,304		$	29,203,304			2.13	%		E/F
Anuvia Plant Nutrients Holdings, LLC	Sr Secured Term Loan (8.0% Exit Fee)	LIBOR (Q)	—			10.63	%		11.63	%		2/1/2018		$	7,563,676		$	7,995,360			$	8,250,457		0.60	%	K
Essex Ocean, LLC (Solexel)	Sr Secured Term Loan	Fixed		-				8.00	%			8.00	%		8/15/2018	$	1,685,289				1,685,289			1,718,994			0.13	%
Green Biologics, Inc.	Sr Secured Delayed Draw Term Loan (12.4% Exit Fee)	Prime Rate	—			7.75	%		11.50	%		6/30/2019		$	15,000,000		15,468,439				14,905,500			1.09	%	K
																					30,888,593			30,922,298			2.26	%
iGM RFE1 B.V. (Netherlands)	First Lien Delayed Draw Term Loan	LIBOR (Q)	—			8.00	%		9.00	%		10/12/2021		$	253,581		245,565				251,684			0.02	%	H
Facilities Support Services
iGM RFE1 B.V. (Netherlands)	First Lien Term Loan	LIBOR (Q)	—			8.00	%		9.00	%		10/12/2021		$	3,864,583		3,836,083				3,835,599			0.28	%	H
NANA Development Corp.	First Lien Term Loan B	LIBOR (M)		1.25	%			6.75	%			8.00	%		3/15/2018	$	879,513				834,963			853,128			0.06	%
Nanosys, Inc.	First Lien Delayed Draw Term Loan (3.5% Exit Fees)	LIBOR (Q)	—			9.81	%		10.75	%		4/1/2019		$	10,000,000		9,526,456				9,712,000			0.71	%	K
Financial Investment Activities
																	37,071,903				36,955,240			2.70	%
Magnolia Finance V plc (Cayman Islands)	Asset-Backed Credit Linked Notes	Fixed		-				13.13	%			13.13	%		8/2/2021	$	15,000,000				15,000,000			14,994,000			1.10	%		E/H
Communications Equipment Manufacturing
Grocery Stores
Globecomm Systems, Inc.	First Lien Term Loan	LIBOR (Q)	1.25	%		7.63	%		8.88	%		12/11/2018		$	14,480,001		14,335,200				14,480,002			1.06	%	B
Bashas, Inc.	First Lien FILO Term Loan	LIBOR (M)		1.50	%			8.80	%			10.30	%		10/8/2019	$	9,333,235				9,297,529			9,426,567			0.69	%
Triangle Acquisition Co. (Polycom)	First Lien Term Loan	LIBOR (Q)	1.00	%		6.50	%		7.50	%		9/27/2023		$	4,835,417		4,646,389				4,877,727			0.36	%
Hospitals
																	18,981,589				19,357,729			1.42	%
KPC Healthcare, Inc.	First Lien Term Loan	LIBOR (Q)		1.00	%			9.25	%			10.51	%		8/28/2020	$	12,071,083				11,857,665			12,375,878			0.90	%
Computer Systems Design and Related Services
Pacific Coast Holdings Investment, LLC	Senior Secured 1st Lien Delayed Draw Term Loan	LIBOR (M)		2.00	%			9.70	%			11.70	%		10/23/2019	$	10,828,233				10,806,929			10,828,233			0.79	%
Aptos Inc. (Canada)	First Lien Term Loan	LIBOR (Q)	1.00	%		6.75	%		7.75	%		9/1/2022		$	9,975,000		9,784,353				9,875,250			0.72	%	H
																					22,664,594			23,204,111			1.69	%
Dealersocket, Inc.	Senior Secured 1st Lien Term Loan	LIBOR (M)	1.00	%		10.00	%		11.00	%		2/10/2021		$	17,500,000		16,884,459				17,291,750			1.26	%
Insurance
MSC Software Corporation	Second Lien Term Loan	LIBOR (M)	1.00	%		7.50	%		8.50	%		5/29/2021		$	6,993,035		6,953,617				7,001,777			0.51	%
Alera Group Intermediate Holdings, Inc.	First Lien Delayed Draw Term Loan	Prime		-				4.50	%			8.25	%		12/30/2022	$	–				(8,333	)		-			-			J
Marketo, Inc.	First Lien Term Loan	LIBOR (Q)	1.00	%		9.50	%		10.50	%		8/16/2021		$	23,295,455		22,630,922				22,887,784			1.67	%
Alera Group Intermediate Holdings, Inc.	First Lien Revolver	Prime		-				4.50	%			8.25	%		12/30/2021	$	–				(7,595	)		-			-			J
Marketo, Inc.	Senior Secured Revolver	LIBOR (Q)	1.00	%		9.50	%		10.50	%		8/16/2021		$	—		(47,341		)		21,307			—		J
Alera Group Intermediate Holdings, Inc.	First Lien Term Loan	Prime		-				4.50	%			8.25	%		12/30/2022	$	3,407,121				3,373,050			3,373,050			0.25	%
OnX Enterprise Solutions, Ltd. (Canada)	First Lien Term Loan B	LIBOR (Q)	—			8.00	%		8.90	%		9/3/2018		$	2,314,000		2,314,000				2,314,000			0.17	%	H
Association Member Benefits Advisors, LLC	Second Lien Term Loan	LIBOR (M)		1.00	%			8.75	%			9.75	%		6/8/2023	$	8,277,983				8,112,882			8,112,423			0.59	%
OnX Enterprise Solutions, Ltd. (Canada)	First Lien Term Loan	LIBOR (Q)	—			8.00	%		8.90	%		9/3/2018		$	10,320,000		10,268,787				10,320,000			0.75	%	H
JSS Holdings, Inc.	First Lien Term Loan	LIBOR (Q)		1.00	%			6.50	%			7.50	%		8/31/2021	$	3,750,000				3,689,740			3,731,250			0.27	%
OnX USA, LLC	First Lien Term Loan B	LIBOR (Q)	—			8.00	%		8.90	%		9/3/2018		$	3,738,000		3,738,000				3,738,000			0.27	%
US Apple Holdco, LLC (Ventiv Technology)	First Lien Term Loan	LIBOR (Q)		0.50	%			13.62	%			14.49	%		8/29/2019	$	20,015,152				19,533,393			20,015,152			1.46	%
OnX USA, LLC	First Lien Term Loan	LIBOR (Q)	—			8.00	%		8.90	%		9/3/2018		$	3,160,000		3,151,013				3,160,000			0.23	%
																					34,693,137			35,231,875			2.57	%
Waterfall International, Inc.	First Lien Delayed Draw Term Loan (3.0% Exit Fee)	LIBOR (Q)	—			11.67	%		12.48	%		9/1/2018		$	4,800,000		4,827,231				4,970,640			0.36	%	K
Lessors of Nonfinancial Licenses
																	80,505,041				81,580,508			5.94	%
ABG Intermediate Holdings 2, LLC	Second Lien Term Loan	LIBOR (Q)		1.00	%			8.50	%			9.50	%		5/27/2022	$	16,573,588				16,434,441			16,739,324			1.22	%
Data Processing and Hosting Services
ABG Intermediate Holdings 2, LLC	Second Lien Incremental Term Loan	LIBOR (Q)		1.00	%			8.50	%			9.50	%		5/27/2022	$	3,426,412				3,396,918			3,460,676			0.25	%
IO Data Centers, USA, LLC	First Lien Term Loan	Fixed	—			9.00	%		9.00	%		1/15/2020		$	6,876,756		6,876,756				6,876,756			0.50	%
																					19,831,359			20,200,000			1.47	%
Electric Power Generation, Transmission and Distribution
Management, Scientific, and Technical Consulting Services
Holocene Renewable Energy Fund 3, LLC (Conergy)	First Lien Term Loan	Fixed	—			9.00% Cash+1.00% PIK			10.00	%		9/10/2017		$	7,518,173		7,491,471				7,442,991			0.54	%
Dodge Data & Analytics, LLC	First Lien Term Loan	LIBOR (Q)		1.00	%			8.75	%			9.75	%		10/31/2019	$	23,995,511				23,613,049			23,699,166			1.73	%
Electronic Component Manufacturing
Motion Picture and Video Industries
Soraa, Inc.	Tranche A Term Loan (3.0% Exit Fee)	LIBOR (Q)	0.44	%		9.33	%		10.15	%		3/1/2018		$	15,666,296		15,483,478				15,471,251			1.13	%	K
NEG Holdings, LLC (CORE Entertainment)	First Lien Term Loan	LIBOR (Q)		1.00	%		8.0% PIK					9.00	%		10/17/2022	$	1,445,592				1,445,592			1,387,712			0.10	%
Soraa, Inc.	Tranche B Term Loan	LIBOR (Q)	0.44	%		9.33	%		10.15	%		9/1/2017		$	1,603,779		1,556,152				1,563,204			0.11	%
Nondepository Credit Intermediation
																	17,039,630				17,034,455			1.24	%
Auto Trakk SPV, LLC	First Lien Delayed Draw Term Loan	LIBOR (M)		0.50	%			9.50	%			10.24	%		12/21/2021	$	32,392,942				31,888,166			31,939,467			2.33	%
Equipment Leasing
Caliber Home Loans, Inc.	First Lien Delayed Draw Term Loan	LIBOR (M)		1.00	%			6.50	%			7.50	%		6/30/2020	$	13,333,333				13,136,017			13,133,333			0.96	%
36th Street Capital Partners Holdings, LLC	Senior Note	Fixed	—			12.00	%		12.00	%		11/1/2020		$	29,203,304		29,203,304				29,203,304			2.13	%	E/F
Caribbean Financial Group (Cayman Islands)	Sr Secured Notes	Fixed		-				11.50	%			11.50	%		11/15/2019	$	28,678,000				28,568,148			29,108,170			2.13	%		E/G/H
Essex Ocean, LLC (Solexel)	Sr Secured Term Loan	Fixed	—			8.00	%		8.00	%		8/15/2018		$	1,685,289		1,685,289				1,718,994			0.13	%
Daymark Financial Acceptance, LLC	First Lien Delayed Draw Term Loan	LIBOR (M)		-				9.50	%			10.27	%		1/12/2020	$	17,500,000				17,300,337			16,992,500			1.24	%
																	30,888,593				30,922,298			2.26	%
Greystone Select Holdings, LLC	First Lien Term Loan	LIBOR (Q)		1.00	%			8.00	%			9.00	%		3/26/2021	$	16,062,731				15,912,928			16,207,296			1.18	%
Facilities Support Services
Trade Finance Funding I, Ltd. (Cayman Islands)	Secured Class B Notes	Fixed		-				10.75	%			10.75	%		11/13/2018	$	15,084,000				15,084,000			14,857,740			1.09	%		E/H
NANA Development Corp.	First Lien Term Loan B	LIBOR (M)	1.25	%		6.75	%		8.00	%		3/15/2018		$	879,513		834,963				853,128			0.06	%
																					121,889,596			122,238,506			8.93	%
Financial Investment Activities
Other Information Services
Magnolia Finance V plc (Cayman Islands)	Asset-Backed Credit Linked Notes	Fixed	—			13.13	%		13.13	%		8/2/2021		$	15,000,000		15,000,000				14,994,000			1.10	%	E/H
Asset International, Inc.	Delayed Draw Term Loan	LIBOR (M)		1.00	%			8.50	%			9.50	%		7/31/2020	$	1,251,626				1,227,886			1,231,183			0.09	%
Grocery Stores
Asset International, Inc.	Revolver Loan	LIBOR (M)		1.00	%			8.50	%			9.50	%		7/31/2020	$	491,303				480,225			481,674			0.04	%
Bashas, Inc.	First Lien FILO Term Loan	LIBOR (M)	1.50	%		8.80	%		10.30	%		10/8/2019		$	9,333,235		9,297,529				9,426,567			0.69	%
Asset International, Inc.	First Lien Term Loan	LIBOR (M)		1.00	%			8.50	%			9.50	%		7/31/2020	$	15,408,563				15,204,465			15,257,559			1.11	%
Simmons Research, LLC	First Lien Term Loan	LIBOR (Q)		0.50	%			10.50	%			11.38	%		12/11/2020	$	4,936,601				4,853,985			4,973,625			0.36	%
SoundCloud Ltd. (United Kingdom)	Sr Secured Term Loan (2.0% Exit Fee)	LIBOR (M)		0.28	%			10.72	%			11.60	%		10/1/2018	$	31,550,000				31,632,236			32,510,698			2.38	%		H/K
TCH-2 Holdings, LLC (TravelClick)	Second Lien Term Loan	LIBOR (M)		1.00	%			7.75	%			8.75	%		11/6/2021	$	19,988,392				19,769,829			19,663,581			1.44	%		G
																					73,168,626			74,118,320			5.42	%
Other Manufacturing
AGY Holding Corp.	Sr Secured Term Loan	Fixed		-				12.00	%			12.00	%		9/15/2018	$	4,869,577				4,869,577			4,869,710			0.36	%		B
AGY Holding Corp.	Second Lien Notes	Fixed		-				11.00	%			11.00	%		11/15/2018	$	9,268,000				7,586,317			9,268,000			0.68	%		B/E
AGY Holding Corp.	Delayed Draw Term Loan	Fixed		-				12.00	%			12.00	%		9/15/2018	$	1,049,146				1,049,146			1,049,147			0.08	%		B
Bioventus, LLC	Second Lien Term Loan	LIBOR (M)		1.00	%			6.25	%			7.25	%		11/15/2021	$	5,000,000				4,900,613			5,000,000			0.37	%
Boomerang Tube, LLC	Subordinated Notes	LIBOR (M)		-				17.50	%			N/A			2/1/2021	$	1,030,741				1,030,740			107,200			0.01	%		C
																					19,436,393			20,294,057			1.50	%
Other Publishing
Bisnow, LLC	First Lien Revolver	LIBOR (Q)		-				9.00	%			N/A			4/29/2021	$	–				(24,000	)		15,000			-			J
Bisnow, LLC	First Lien Term Loan	LIBOR (Q)		-				9.00	%			9.88	%		4/29/2021	$	8,614,356				8,459,058			8,549,749			0.62	%
Contextmedia Health, LLC	First Lien Term Loan B	LIBOR (M)		1.00	%			6.50	%			7.50	%		12/23/2021	$	13,636,364				12,272,727			12,477,273			0.91	%
																					20,707,785			21,042,022			1.53	%
Other Telecommunications
Securus Technologies, Inc.	Second Lien Term Loan	LIBOR (Q)		1.25	%			7.75	%			9.00	%		4/30/2021	$	4,516,129				4,470,968			4,407,177			0.32	%
Pharmaceuticals
Lantheus Medical Imaging, Inc.	First Lien Term Loan	LIBOR (M)		1.00	%			6.00	%			7.00	%		6/30/2022	$	8,642,604				8,199,514			8,664,210			0.63	%

912

Table of Contents

Special Value Continuation Partners, LP

(A Delaware Limited Partnership)

Consolidated Schedule of Investments (Continued)

December 31, 2016

Issuer	Instrument	Ref	Floor			Spread	~~Spread~~		Total Coupon		~~Total Coupon~~	Maturity		Principal	~~Maturity~~	~~Principal~~	Cost			~~Cost~~	FairValue		~~Fair Value~~	% of TotalCash andInvestments		~~% of Total Cash and Investments~~Notes			~~Notes~~
Debt Investments (continued)
Plastics Manufacturing
Hospitals
Iracore International, Inc.	Sr Secured Notes	Fixed		-				9.50	%			9.50	%		6/1/2018	$	13,600,000			$	14,246,000		$	4,503,640			0.33	%		C/E/G
KPC Healthcare, Inc.	First Lien Term Loan	LIBOR (Q)	1.00	%		9.25	%		10.51	%		8/28/2020		$	12,071,083		$	11,857,665			$	12,375,878		0.90	%
Radio and Television Broadcasting
Pacific Coast Holdings Investment, LLC	Senior Secured 1st Lien Delayed Draw Term Loan	LIBOR (M)	2.00	%		9.70	%		11.70	%		10/23/2019		$	10,828,233		10,806,929				10,828,233			0.79	%
Fuse, LLC	Sr Secured Notes	Fixed		-				10.38	%			10.38	%		7/1/2019	$	7,312,000				7,312,000			4,435,972			0.32	%		E/G
																	22,664,594				23,204,111			1.69	%
NEP/NCP Holdco, Inc.	Second Lien Term Loan	LIBOR (M)		1.25	%			8.75	%			10.00	%		7/22/2020	$	15,981,496				15,727,220			16,141,311			1.18	%
Insurance
																					23,039,220			20,577,283			1.50	%
Alera Group Intermediate Holdings, Inc.	First Lien Delayed Draw Term Loan	Prime	—			4.50	%		8.25	%		12/30/2022		$	—		(8,333		)		—			—		J
Real Estate Leasing
Alera Group Intermediate Holdings, Inc.	First Lien Revolver	Prime	—			4.50	%		8.25	%		12/30/2021		$	—		(7,595		)		—			—		J
Home Partners of America, Inc.	First Lien Term Loan	LIBOR (Q)		1.00	%			7.00	%			8.00	%		10/13/2022	$	5,000,000				4,902,332			5,000,000			0.37	%
Alera Group Intermediate Holdings, Inc.	First Lien Term Loan	Prime	—			4.50	%		8.25	%		12/30/2022		$	3,407,121		3,373,050				3,373,050			0.25	%
Restaurants
Association Member Benefits Advisors, LLC	Second Lien Term Loan	LIBOR (M)	1.00	%		8.75	%		9.75	%		6/8/2023		$	8,277,983		8,112,882				8,112,423			0.59	%
RM OpCo, LLC (Real Mex)	Convertible Second Lien Term Loan Tranche B-1	Fixed		-				8.50	%			8.50	%		3/30/2018	$	1,943,371				1,943,371			1,943,371			0.14	%		B
JSS Holdings, Inc.	First Lien Term Loan	LIBOR (Q)	1.00	%		6.50	%		7.50	%		8/31/2021		$	3,750,000		3,689,740				3,731,250			0.27	%
RM OpCo, LLC (Real Mex)	First Lien Term Loan Tranche A	Fixed		-				7.00	%			7.00	%		3/30/2018	$	4,871,284				4,587,898			4,871,284			0.36	%		B
US Apple Holdco, LLC (Ventiv Technology)	First Lien Term Loan	LIBOR (Q)	0.50	%		13.62	%		14.49	%		8/29/2019		$	20,015,152		19,533,393				20,015,152			1.46	%
RM OpCo, LLC (Real Mex)	Second Lien Term Loan Tranche B	Fixed		-				8.50	%			8.50	%		3/30/2018	$	9,683,150				9,683,150			3,154,770			0.23	%		B
																	34,693,137				35,231,875			2.57	%
RM OpCo, LLC (Real Mex)	Second Lien Term Loan Tranche B-1	Fixed		-				8.50	%			8.50	%		3/30/2018	$	3,049,554				3,034,132			3,049,555			0.22	%		B
Lessors of Nonfinancial Licenses
RM OpCo, LLC (Real Mex)	Sr Convertible Second Lien Term Loan B	Fixed		-				8.50	%			8.50	%		3/30/2018	$	4,251,368				4,251,368			4,251,368			0.31	%		B
ABG Intermediate Holdings 2, LLC	Second Lien Term Loan	LIBOR (Q)	1.00	%		8.50	%		9.50	%		5/27/2022		$	16,573,588		16,434,441				16,739,324			1.22	%
																					23,499,919			17,270,348			1.26	%
ABG Intermediate Holdings 2, LLC	Second Lien Incremental Term Loan	LIBOR (Q)	1.00	%		8.50	%		9.50	%		5/27/2022		$	3,426,412		3,396,918				3,460,676			0.25	%
Retail
																	19,831,359				20,200,000			1.47	%
Bon-Ton, Inc.	First Lien Tranche A-1 Revolver	LIBOR (Q)		1.00	%			9.50	%			10.50	%		3/15/2021	$	4,432,934				4,348,162			4,388,605			0.32	%
Management, Scientific, and Technical Consulting Services
Gander Mountain Company	Second Lien Term Loan	LIBOR (M)		-				9.50	%			10.44	%		6/15/2018	$	14,740,910				14,618,096			14,749,754			1.08	%
Dodge Data & Analytics, LLC	First Lien Term Loan	LIBOR (Q)	1.00	%		8.75	%		9.75	%		10/31/2019		$	23,995,511		23,613,049				23,699,166			1.73	%
The Gymboree Corporation	First Lien Term Loan	LIBOR (Q)		-				10.25	%			11.18	%		9/24/2020	$	12,857,349				12,618,039			13,050,209			0.95	%
Motion Picture and Video Industries
Kenneth Cole Productions, Inc.	First Lien FILO Term Loan	LIBOR (M)		1.00	%			8.50	%			9.50	%		9/25/2020	$	20,672,789				20,491,699			20,879,517			1.53	%
NEG Holdings, LLC (CORE Entertainment)	First Lien Term Loan	LIBOR (Q)	1.00	%		8.00% PIK			9.00	%		10/17/2022		$	1,445,592		1,445,592				1,387,712			0.10	%
																					52,075,996			53,068,085			3.88	%
Nondepository Credit Intermediation
Satellite Telecommunications
Auto Trakk SPV, LLC	First Lien Delayed Draw Term Loan	LIBOR (M)	0.50	%		9.50	%		10.24	%		12/21/2021		$	32,392,942		31,888,166				31,939,467			2.33	%
Avanti Communications Group, PLC (United Kingdom)	Sr Secured Notes	Fixed		-				10.00	%			10.00	%		10/1/2019	$	9,393,000				9,393,000			5,665,153			0.41	%		E/G/H
Caliber Home Loans, Inc.	First Lien Delayed Draw Term Loan	LIBOR (M)	1.00	%		6.50	%		7.50	%		6/30/2020		$	13,333,333		13,136,017				13,133,333			0.96	%
Scientific Research and Development Services
Caribbean Financial Group (Cayman Islands)	Sr Secured Notes	Fixed	—			11.50	%		11.50	%		11/15/2019		$	28,678,000		28,568,148				29,108,170			2.13	%	E/G/H
Envigo Holdings, Inc.	First Lien Term Loan	LIBOR (Q)		1.00	%			8.50	%			9.50	%		11/3/2021	$	35,192,124				34,499,517			34,796,212			2.54	%
Daymark Financial Acceptance, LLC	First Lien Delayed Draw Term Loan	LIBOR (M)	—			9.50	%		10.27	%		1/12/2020		$	17,500,000		17,300,337				16,992,500			1.24	%
Software Publishing
Greystone Select Holdings, LLC	First Lien Term Loan	LIBOR (Q)	1.00	%		8.00	%		9.00	%		3/26/2021		$	16,062,731		15,912,928				16,207,296			1.18	%
Acronis International GmbH (Switzerland)	First Lien Term Loan	LIBOR (Q)		1.00	%			11.50	%			12.50	%		6/9/2017	$	28,336,513				28,329,478			28,165,077			2.06	%		H
Trade Finance Funding I, Ltd. (Cayman Islands)	Secured Class B Notes	Fixed	—			10.75	%		10.75	%		11/13/2018		$	15,084,000		15,084,000				14,857,740			1.09	%	E/H
ArcServe (USA), LLC	Second Lien Term Loan	LIBOR (Q)		0.50	%			8.5% Cash + 1.25% PIK				10.75	%		1/31/2020	$	30,222,833				29,851,330			28,893,029			2.11	%
																	121,889,596				122,238,506			8.93	%
Autoalert, LLC	First Lien Term Loan	LIBOR (Q)		0.25	%			5.75% Cash + 3% PIK				9.63	%		3/31/2019	$	35,627,947				35,263,561			35,538,877			2.60	%
Other Information Services
Mapp Digital US, LLC	First Lien Term Loan	LIBOR (Q)		-				9.50	%			10.35	%		12/31/2017	$	5,837,798				5,754,455			5,823,203			0.43	%
Asset International, Inc.	Delayed Draw Term Loan	LIBOR (M)	1.00	%		8.50	%		9.50	%		7/31/2020		$	1,251,626		1,227,886				1,231,183			0.09	%
Edmentum, Inc.	Jr Revolving Facility	Fixed		-				5.00	%			5.00	%		6/9/2020	$	-				-			-			-			B
Asset International, Inc.	Revolver Loan	LIBOR (M)	1.00	%		8.50	%		9.50	%		7/31/2020		$	491,303		480,225				481,674			0.04	%
Edmentum Ultimate Holdings, LLC	Sr PIK Notes	Fixed		-				8.50	%			8.50	%		6/9/2020	$	2,846,243				2,846,243			2,846,246			0.21	%		B
Asset International, Inc.	First Lien Term Loan	LIBOR (M)	1.00	%		8.50	%		9.50	%		7/31/2020		$	15,408,563		15,204,465				15,257,559			1.11	%
Edmentum Ultimate Holdings, LLC	Jr PIK Notes	Fixed		-				10.00	%			10.00	%		6/9/2020	$	13,040,391				12,539,980			12,101,483			0.88	%		B
Simmons Research, LLC	First Lien Term Loan	LIBOR (Q)	0.50	%		10.50	%		11.38	%		12/11/2020		$	4,936,601		4,853,985				4,973,625			0.36	%
Fidelis Acquisitionco, LLC	First Lien Term Loan	LIBOR (Q)		1.00	%			6.0% Cash + 2.0% PIK				9.00	%		11/4/2019	$	42,565,572				41,986,034			42,991,228			3.14	%
SoundCloud Ltd. (United Kingdom)	Sr Secured Term Loan (2.0% Exit Fee)	LIBOR (M)	0.28	%		10.72	%		11.60	%		10/1/2018		$	31,550,000		31,632,236				32,510,698			2.38	%	H/K
Fidelis Acquisitionco, LLC	Sr Secured Revolver	LIBOR (Q)		1.00	%			8.00	%			9.00	%		11/4/2019	$	3,182,143				3,182,143			3,213,964			0.24	%
TCH-2 Holdings, LLC (TravelClick)	Second Lien Term Loan	LIBOR (M)	1.00	%		7.75	%		8.75	%		11/6/2021		$	19,988,392		19,769,829				19,663,581			1.44	%	G
Newscycle Solutions, Inc.	Second Lien Term Loan	LIBOR (Q)		-				13.00	%			13.95	%		9/10/2021	$	11,513,361				11,196,782			11,334,905			0.83	%
																	73,168,626				74,118,320			5.42	%
Newscycle Solutions AB (Sweden)	Second Lien Term Loan B	LIBOR (Q)		-				13.00	%			13.95	%		9/10/2021	$	11,513,362				11,196,782			11,334,905			0.83	%		H
Other Manufacturing
Soasta, Inc.	Senior Secured 1st Lien Term Loan (4.0% Exit Fee)	LIBOR (M)		-				9.56	%			10.50	%		4/1/2019	$	17,880,435				17,783,558			19,037,299			1.39	%		K
AGY Holding Corp.	Sr Secured Term Loan	Fixed	—			12.00	%		12.00	%		9/15/2018		$	4,869,577		4,869,577				4,869,710			0.36	%	B
Soasta, Inc.	Convertible Promissory Note	Fixed		-				10.00	%			10.00	%		12/16/2017	$	2,282,609				2,282,609			5,504,054			0.40	%
AGY Holding Corp.	Second Lien Notes	Fixed	—			11.00	%		11.00	%		11/15/2018		$	9,268,000		7,586,317				9,268,000			0.68	%	B/E
Utilidata, Inc.	First Lien Delayed Draw Term Loan (1.0% Exit Fee)	LIBOR (M)		0.62	%			9.88	%			10.69	%		1/1/2019	$	3,200,000				3,135,670			3,080,000			0.23	%		K
AGY Holding Corp.	Delayed Draw Term Loan	Fixed	—			12.00	%		12.00	%		9/15/2018		$	1,049,146		1,049,146				1,049,147			0.08	%	B
																					205,348,625			209,864,270			15.35	%
Bioventus, LLC	Second Lien Term Loan	LIBOR (M)	1.00	%		6.25	%		7.25	%		11/15/2021		$	5,000,000		4,900,613				5,000,000			0.37	%
Textile Furnishings Mills
Boomerang Tube, LLC	Subordinated Notes	LIBOR (M)	—			17.50	%		N/A			2/1/2021		$	1,030,741		1,030,740				107,200			0.01	%	C
Lexmark Carpet Mills, Inc.	First Lien Term Loan	LIBOR (Q)		1.00	%			10.00	%			11.00	%		12/19/2019	$	22,804,525				22,804,525			22,827,329			1.67	%
																	19,436,393				20,294,057			1.50	%
Lexmark Carpet Mills, Inc.	First Lien Term Loan B	LIBOR (Q)		1.00	%			10.00	%			11.00	%		12/19/2019	$	7,822,482				7,681,925			7,830,304			0.57	%
																					30,486,450			30,657,633			2.24	%
Utility System Construction
Kawa Solar Holdings Limited (Cayman Islands)	Bank Guarantee Credit Facility	Fixed		-				8.2% Cash + 3.5% PIK				11.70	%		7/2/2017	$	21,276,420				21,276,420			21,276,653			1.56	%		F/H
Kawa Solar Holdings Limited (Cayman Islands)	Revolving Credit Facility	Fixed		-				8.20	%			8.20	%		7/2/2017	$	4,000,000				4,000,000			4,000,000			0.29	%		F/H
																					25,276,420			25,276,653			1.85	%
Wholesalers
NILCO, LLC	First Lien Term Loan	LIBOR (Q)		1.00	%			9.50	%			10.50	%		9/1/2021	$	21,023,109				20,424,799			21,601,245			1.58	%
Wired Telecommunications Carriers
Alpheus Communications, LLC	First Lien Delayed Draw FILO Term Loan	LIBOR (M)		1.00	%			7.42	%			8.53	%		5/31/2018	$	332,044				328,743			326,682			0.02	%
Alpheus Communications, LLC	First Lien Delayed Draw FILO Term Loan	LIBOR (M)		1.00	%			7.42	%			8.66	%		5/31/2018	$	1,355,968				1,346,859			1,328,296			0.10	%
Alpheus Communications, LLC	First Lien FILO Term Loan	LIBOR (M)		1.00	%			7.42	%			8.42	%		5/31/2018	$	7,255,721				7,183,589			7,139,992			0.52	%
Integra Telecom Holdings, Inc.	Second Lien Term Loan	LIBOR (Q)		1.25	%			8.50	%			9.75	%		2/22/2020	$	13,231,193				13,084,285			13,313,989			0.97	%		G
U.S. TelePacific Corp.	First Lien Notes	LIBOR (Q)		1.00	%			8.50	%			9.50	%		2/24/2021	$	10,000,000				9,715,362			10,000,000			0.73	%
																					31,658,838			32,108,959			2.34	%
Wireless Telecommunications Carriers
Gogo, LLC	Sr Secured Notes	Fixed		-				12.50	%			12.50	%		7/1/2022	$	10,000,000				10,000,000			10,900,000			0.80	%		E/G
Total Debt Investments																					1,254,861,949			1,248,887,808			91.25	%

1013

Table of Contents

Special Value Continuation Partners, LP

(A Delaware Limited Partnership)

Consolidated Schedule of Investments (Continued)

December 31, 2016

Issuer	Instrument	Ref	Floor		Spread	~~Spread~~	Total Coupon		~~Total Coupon~~	Maturity	Principal	~~Maturity~~	~~Shares~~	Cost			~~Cost~~	FairValue		~~Fair Value~~	% of TotalCash andInvestments		~~% of Total Cash and Investments~~Notes			~~Notes~~
Equity Securities
Debt Investments (continued)
Advertising and Public Relations Services
Other Publishing
InMobi, Inc. (Singapore)	Warrants to Purchase Stock													562,496			$	230,569		$	87,356			0.01	%		C/E/H
Bisnow, LLC	First Lien Revolver	LIBOR (Q)	—		9.00	%	N/A			4/29/2021	$	—		$	(24,000	)		$	15,000		—		J
Air Transportation
Bisnow, LLC	First Lien Term Loan	LIBOR (Q)	—		9.00	%	9.88	%		4/29/2021	$	8,614,356		8,459,058				8,549,749			0.62	%
Aircraft Leased to United Airlines, Inc.
Contextmedia Health, LLC	First Lien Term Loan B	LIBOR (M)	1.00	%	6.50	%	7.50	%		12/23/2021	$	13,636,364		12,272,727				12,477,273			0.91	%
United N659UA-767, LLC (N659UA)	Trust Beneficial Interests													683				3,250,956			3,191,938			0.23	%		E/F
														20,707,785				21,042,022			1.53	%
United N661UA-767, LLC (N661UA)	Trust Beneficial Interests													688				3,376,251			3,266,101			0.24	%		E/F
Other Telecommunications
Epic Aero, Inc. (One Sky)	Warrants to Purchase Common Stock													1,843				855,313			1,909,600			0.14	%		C/E
Securus Technologies, Inc.	Second Lien Term Loan	LIBOR (Q)	1.25	%	7.75	%	9.00	%		4/30/2021	$	4,516,129		4,470,968				4,407,177			0.32	%
																		7,482,520			8,367,639			0.61	%
Pharmaceuticals
Business Support Services
Lantheus Medical Imaging, Inc.	First Lien Term Loan	LIBOR (M)	1.00	%	6.00	%	7.00	%		6/30/2022	$	8,642,604		8,199,514				8,664,210			0.63	%
Findly Talent, LLC	Membership Units													708,229				230,938			143,133			0.01	%		C/E
Plastics Manufacturing
STG-Fairway Holdings, LLC (First Advantage)	Class A Units													841,479				325,432			1,112,351			0.08	%		C/E
Iracore International, Inc.	Sr Secured Notes	Fixed	—		9.50	%	9.50	%		6/1/2018	$	13,600,000		14,246,000				4,503,640			0.33	%	C/E/G
																		556,370			1,255,484			0.09	%
Radio and Television Broadcasting
Chemicals
Fuse, LLC	Sr Secured Notes	Fixed	—		10.38	%	10.38	%		7/1/2019	$	7,312,000		7,312,000				4,435,972			0.32	%	E/G
Green Biologics, Inc.	Warrants to Purchase Stock													909,300				274,213			875			-			C/E
NEP/NCP Holdco, Inc.	Second Lien Term Loan	LIBOR (M)	1.25	%	8.75	%	10.00	%		7/22/2020	$	15,981,496		15,727,220				16,141,311			1.18	%
Nanosys, Inc.	Warrants to Purchase Common Stock													800,000				605,266			611,920			0.05	%		C/E
														23,039,220				20,577,283			1.50	%
																		879,479			612,795			0.05	%
Real Estate Leasing
Communications Equipment Manufacturing
Home Partners of America, Inc.	First Lien Term Loan	LIBOR (Q)	1.00	%	7.00	%	8.00	%		10/13/2022	$	5,000,000		4,902,332				5,000,000			0.37	%
Wasserstein Cosmos Co-Invest, L.P. (Globecomm)	Limited Partnership Units													5,000,000				5,000,000			1,530,000			0.11	%		B/C/E
Restaurants
Computer Systems Design and Related Services
RM OpCo, LLC (Real Mex)	Convertible Second Lien Term Loan Tranche B-1	Fixed	—		8.50	%	8.50	%		3/30/2018	$	1,943,371		1,943,371				1,943,371			0.14	%	B
Waterfall International, Inc.	Series B Preferred Stock													1,428,571				1,000,000			1,145,286			0.08	%		C/E
RM OpCo, LLC (Real Mex)	First Lien Term Loan Tranche A	Fixed	—		7.00	%	7.00	%		3/30/2018	$	4,871,284		4,587,898				4,871,284			0.36	%	B
Waterfall International, Inc.	Warrants to Purchase Stock													920,000				89,847			175,168			0.01	%		C/E
RM OpCo, LLC (Real Mex)	Second Lien Term Loan Tranche B	Fixed	—		8.50	%	8.50	%		3/30/2018	$	9,683,150		9,683,150				3,154,770			0.23	%	B
																		1,089,847			1,320,454			0.09	%
RM OpCo, LLC (Real Mex)	Second Lien Term Loan Tranche B-1	Fixed	—		8.50	%	8.50	%		3/30/2018	$	3,049,554		3,034,132				3,049,555			0.22	%	B
Data Processing and Hosting Services
RM OpCo, LLC (Real Mex)	Sr Convertible Second Lien Term Loan B	Fixed	—		8.50	%	8.50	%		3/30/2018	$	4,251,368		4,251,368				4,251,368			0.31	%	B
Anacomp, Inc.	Class A Common Stock													1,255,527				26,711,048			1,205,306			0.09	%		C/E/F
														23,499,919				17,270,348			1.26	%
Rightside Group, Ltd.	Warrants													498,855				2,778,622			366,489			0.03	%		C/E
Retail
																		29,489,670			1,571,795			0.12	%
Bon-Ton, Inc.	First Lien Tranche A-1 Revolver	LIBOR (Q)	1.00	%	9.50	%	10.50	%		3/15/2021	$	4,432,934		4,348,162				4,388,605			0.32	%
Electrical Equipment Manufacturing
Gander Mountain Company	Second Lien Term Loan	LIBOR (M)	—		9.50	%	10.44	%		6/15/2018	$	14,740,910		14,618,096				14,749,754			1.08	%
NEXTracker, Inc.	Series B Preferred Stock													558,884				-			1,727,622			0.13	%		E
The Gymboree Corporation	First Lien Term Loan	LIBOR (Q)	—		10.25	%	11.18	%		9/24/2020	$	12,857,349		12,618,039				13,050,209			0.95	%
NEXTracker, Inc.	Series C Preferred Stock													17,640				-			54,525			-			E
Kenneth Cole Productions, Inc.	First Lien FILO Term Loan	LIBOR (M)	1.00	%	8.50	%	9.50	%		9/25/2020	$	20,672,789		20,491,699				20,879,517			1.53	%
																		-			1,782,147			0.13	%
														52,075,996				53,068,085			3.88	%
Electronic Component Manufacturing
Satellite Telecommunications
Soraa, Inc.	Warrants to Purchase Common Stock													3,071,860				478,899			5,222			-			C/E
Avanti Communications Group, PLC (United Kingdom)	Sr Secured Notes	Fixed	—		10.00	%	10.00	%		10/1/2019	$	9,393,000		9,393,000				5,665,153			0.41	%	E/G/H
Equipment Leasing
Scientific Research and Development Services
36th Street Capital Partners Holdings, LLC	Membership Units													6,818,897				6,818,897			6,818,897			0.50	%		C/E/F
Envigo Holdings, Inc.	First Lien Term Loan	LIBOR (Q)	1.00	%	8.50	%	9.50	%		11/3/2021	$	35,192,124		34,499,517				34,796,212			2.54	%
Essex Ocean II, LLC	Membership Units													199,430				103,398			159,045			0.01	%		C/E/F
																		6,922,295			6,977,942			0.51	%
Financial Investment Activities
GACP I, LP	Membership Units													16,615,951				16,735,088			16,866,903			1.23	%		C/E/I
Marsico Holdings, LLC	Common Interest Units													168,698				172,694			1,687			-			C/E/I
																		16,907,782			16,868,590			1.23	%
Metal and Mineral Mining
EPMC HoldCo, LLC	Membership Units													1,312,720				-			210,035			0.02	%		B/E
Motion Picture and Video Industries
NEG Parent, LLC	Class A Units													1,182,779				1,235,194			1,292,023			0.09	%		C/E
NEG Parent, LLC	Class P Units													1,537,613				1,537,613			1,551,056			0.11	%		C/E
NEG Parent, LLC	Class A Warrants to Purchase Class A Units													343,387				196,086			196,086			0.01	%		C/E
NEG Parent, LLC	Class B Warrants to Purchase Class A Units													346,794				198,032			198,032			0.02	%		C/E
																		3,166,925			3,237,197			0.23	%
Other Information Services
SoundCloud, Ltd. (United Kingdom)	Warrants to Purchase Preferred Stock													946,498				79,082			95,502			0.01	%		C/E/H
Other Manufacturing
AGY Holding Corp.	Common Stock													1,333,527				-			-			-			B/C/E
Boomerang Tube Holdings, Inc.	Common Stock													24,288				243			-			-			C/E
KAGY Holding Company, Inc.	Series A Preferred Stock													9,778				1,091,200			4,607,246			0.34	%		B/C/E
																		1,091,443			4,607,246			0.34	%
Radio and Television Broadcasting
Fuse Media, LLC	Warrants to Purchase Common Stock													233,470				300,322			-			-			C/E
Restaurants
RM Holdco, LLC (Real Mex)	Equity Participation													24				-			-			-			B/C/E
RM Holdco, LLC (Real Mex)	Membership Units													13,161,000				2,010,777			-			-			B/C/E
																		2,010,777			-			-
Retail
Shop Holding, LLC (Connexity)	Class A Units													507,167				480,049			-			-			C/E

1114

~~Table~~Special ofValue ~~Contents~~Continuation Partners, LP

~~Special Value Continuation Partners, LP~~ (A Delaware Limited Partnership)

Consolidated Schedule of Investments (Continued)

December 31, 2016

Issuer	Instrument	Ref	Floor		Spread	~~Spread~~	Total Coupon		~~Total Coupon~~	Maturity	Principal	~~Maturity~~	~~Shares~~	Cost		~~Cost~~	FairValue		~~Fair Value~~	% of TotalCash andInvestments		~~% of Total Cash and Investments~~Notes			~~Notes~~
Equity Securities (continued)
Debt Investments (continued)
Software Publishing
Blackline Intermediate, Inc.	Warrants to Purchase Common Stock													246,546		$	522,678		$	5,300,373			0.39	%		C/E
Acronis International GmbH (Switzerland)	First Lien Term Loan	LIBOR (Q)	1.00	%	11.50	%	12.50	%		6/9/2017	$	28,336,513		$	28,329,478		$	28,165,077		2.06	%	H
Edmentum Ultimate Holdings, LLC	Class A Common Units													159,515			680,226			1,123,591			0.08	%		B/C/E
ArcServe (USA), LLC	Second Lien Term Loan	LIBOR (Q)	0.50	%	8.50% Cash+1.25% PIK		10.75	%		1/31/2020	$	30,222,833		29,851,330			28,893,029			2.11	%
Soasta, Inc.	Warrants to Purchase Series F Preferred Stock													1,251,630			533,192			794,535			0.06	%		C/E
Autoalert, LLC	First Lien Term Loan	LIBOR (Q)	0.25	%	5.75% Cash+3.00% PIK		9.63	%		3/31/2019	$	35,627,947		35,263,561			35,538,877			2.60	%
Utilidata, Inc.	Warrants to Purchase Stock													719,998			216,336			204,983			0.01	%		C/E
Mapp Digital US, LLC	First Lien Term Loan	LIBOR (Q)	—		9.50	%	10.35	%		12/31/2017	$	5,837,798		5,754,455			5,823,203			0.43	%
																	1,952,432			7,423,482			0.54	%
Edmentum, Inc.	Jr Revolving Facility	Fixed	—		5.00	%	5.00	%		6/9/2020	$	—		—			—			—		B
Utility System Construction
Edmentum Ultimate Holdings, LLC	Sr PIK Notes	Fixed	—		8.50	%	8.50	%		6/9/2020	$	2,846,243		2,846,243			2,846,246			0.21	%	B
Kawa Solar Holdings Limited (Cayman Islands)	Ordinary Shares													2,332,594			-			-			-			C/E/F/H
Edmentum Ultimate Holdings, LLC	Jr PIK Notes	Fixed	—		10.00	%	10.00	%		6/9/2020	$	13,040,391		12,539,980			12,101,483			0.88	%	B
Kawa Solar Holdings Limited (Cayman Islands)	Series B Preferred Shares													93,023			1,395,349			1,395,350			0.10	%		C/E/F/H
Fidelis Acquisitionco, LLC	First Lien Term Loan	LIBOR (Q)	1.00	%	6.00% Cash+2.00% PIK		9.00	%		11/4/2019	$	42,565,572		41,986,034			42,991,228			3.14	%
																	1,395,349			1,395,350			0.10	%
Fidelis Acquisitionco, LLC	Sr Secured Revolver	LIBOR (Q)	1.00	%	8.00	%	9.00	%		11/4/2019	$	3,182,143		3,182,143			3,213,964			0.24	%
Wired Telecommunications Carriers
Newscycle Solutions, Inc.	Second Lien Term Loan	LIBOR (Q)	—		13.00	%	13.95	%		9/10/2021	$	11,513,361		11,196,782			11,334,905			0.83	%
Integra Telecom, Inc.	Common Stock													1,274,522			8,433,884			6,533,964			0.48	%		C/E
Newscycle Solutions AB (Sweden)	Second Lien Term Loan B	LIBOR (Q)	—		13.00	%	13.95	%		9/10/2021	$	11,513,362		11,196,782			11,334,905			0.83	%	H
Integra Telecom, Inc.	Warrants													346,939			19,920			-			-			C/E
Soasta, Inc.	Senior Secured 1st Lien Term Loan (4.0% Exit Fee)	LIBOR (M)	—		9.56	%	10.50	%		4/1/2019	$	17,880,435		17,783,558			19,037,299			1.39	%	K
V Telecom Investment S.C.A. (Vivacom) (Luxembourg)	Common Shares													1,393			3,236,256			2,199,862			0.16	%		C/D/E/H
Soasta, Inc.	Convertible Promissory Note	Fixed	—		10.00	%	10.00	%		12/16/2017	$	2,282,609		2,282,609			5,504,054			0.40	%
																	11,690,060			8,733,826			0.64	%
Utilidata, Inc.	First Lien Delayed Draw Term Loan (1.0% Exit Fee)	LIBOR (M)	0.62	%	9.88	%	10.69	%		1/1/2019	$	3,200,000		3,135,670			3,080,000			0.23	%	K
Total Equity Securities																	91,203,870			66,082,062			4.83	%
														205,348,625			209,864,270			15.35	%
Total Investments																$	1,346,065,819		$	1,314,969,870
Textile Furnishings Mills
Cash and Cash Equivalents
Lexmark Carpet Mills, Inc.	First Lien Term Loan	LIBOR (Q)	1.00	%	10.00	%	11.00	%		12/19/2019	$	22,804,525		22,804,525			22,827,329			1.67	%
Cash Held on Account at Various Institutions																				53,579,868			3.92	%
Lexmark Carpet Mills, Inc.	First Lien Term Loan B	LIBOR (Q)	1.00	%	10.00	%	11.00	%		12/19/2019	$	7,822,482		7,681,925			7,830,304			0.57	%
Cash and Cash Equivalents																				53,579,868			3.92	%
														30,486,450			30,657,633			2.24	%
Total Cash and Investments																			$	1,368,549,738			100.00	%		L
Utility System Construction
Kawa Solar Holdings Limited (Cayman Islands)	Bank Guarantee Credit Facility	Fixed	—		8.20% Cash+3.50% PIK		11.70	%		7/2/2017	$	21,276,420		21,276,420			21,276,653			1.56	%	F/H
Kawa Solar Holdings Limited (Cayman Islands)	Revolving Credit Facility	Fixed	—		8.20	%	8.20	%		7/2/2017	$	4,000,000		4,000,000			4,000,000			0.29	%	F/H
														25,276,420			25,276,653			1.85	%
Wholesalers
NILCO, LLC	First Lien Term Loan	LIBOR (Q)	1.00	%	9.50	%	10.50	%		9/1/2021	$	21,023,109		20,424,799			21,601,245			1.58	%
Wired Telecommunications Carriers
Alpheus Communications, LLC	First Lien Delayed Draw FILO Term Loan	LIBOR (M)	1.00	%	7.42	%	8.53	%		5/31/2018	$	332,044		328,743			326,682			0.02	%
Alpheus Communications, LLC	First Lien Delayed Draw FILO Term Loan	LIBOR (M)	1.00	%	7.42	%	8.66	%		5/31/2018	$	1,355,968		1,346,859			1,328,296			0.10	%
Alpheus Communications, LLC	First Lien FILO Term Loan	LIBOR (M)	1.00	%	7.42	%	8.42	%		5/31/2018	$	7,255,721		7,183,589			7,139,992			0.52	%
Integra Telecom Holdings, Inc.	Second Lien Term Loan	LIBOR (Q)	1.25	%	8.50	%	9.75	%		2/22/2020	$	13,231,193		13,084,285			13,313,989			0.97	%	G
U.S. TelePacific Corp.	First Lien Notes	LIBOR (Q)	1.00	%	8.50	%	9.50	%		2/24/2021	$	10,000,000		9,715,362			10,000,000			0.73	%
														31,658,838			32,108,959			2.34	%
Wireless Telecommunications Carriers
Gogo, LLC	Sr Secured Notes	Fixed	—		12.50	%	12.50	%		7/1/2022	$	10,000,000		10,000,000			10,900,000			0.80	%	E/G
Total Debt Investments														1,254,861,949			1,248,887,808			91.25	%

Special Value Continuation Partners, LP

(A Delaware Limited Partnership)

Consolidated Schedule of Investments (Continued)

December 31, 2016

Issuer

Instrument

Ref

Floor

Spread

Total Coupon

Maturity

Cost

Fair

Value

% of Total

Cash and

Investments

Notes

Equity Securities

Advertising and Public Relations Services

InMobi, Inc. (Singapore)

Warrants to Purchase Stock

562,496

230,569

87,356

0.01

C/E/H

Air Transportation

Aircraft Leased to United Airlines, Inc.

Filing Compare · Special Value Continuation Partners, LLC