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Dermatology & Cosmetic Surgery, Health Care Equipment & Services2025-09-300001975736Affordable Care Inc, Health Care Equipment & Services2025-09-300001975736srt:MinimumMemberAffordable Care Inc, Health Care Equipment & Services2025-09-300001975736srt:MaximumMemberAffordable Care Inc, Health Care Equipment & Services2025-09-300001975736AGS Health LLC, Software & Services 12025-09-300001975736AGS Health LLC, Software & Services 22025-09-300001975736AGS Health LLC, Software & Services 32025-09-300001975736A-Lign Assurance LLC, Software & Services 12025-09-300001975736srt:MinimumMemberA-Lign Assurance LLC, Software & Services 12025-09-300001975736srt:MaximumMemberA-Lign Assurance LLC, Software & Services 12025-09-300001975736A-Lign Assurance LLC, Software & Services 22025-09-300001975736srt:MinimumMemberA-Lign Assurance LLC, Software & Services 22025-09-300001975736srt:MaximumMemberA-Lign Assurance LLC, Software & Services 22025-09-300001975736A-Lign Assurance LLC, Software & Services 32025-09-300001975736Amerivet Partners Management Inc, Health Care Equipment & Services2025-09-300001975736Arcfield Acquisition Corp, Capital Goods 12025-09-300001975736Arcfield Acquisition Corp, Capital Goods 22025-09-300001975736Area Wide Protective Inc, Commercial & Professional Services 12025-09-300001975736Area Wide Protective Inc, Commercial & Professional Services 22025-09-300001975736Avetta LLC, Software & Services 12025-09-300001975736srt:MinimumMemberAvetta LLC, Software & Services 12025-09-300001975736srt:MaximumMemberAvetta LLC, Software & Services 12025-09-300001975736Avetta LLC, Software & Services 22025-09-300001975736Avetta LLC, Software & Services 32025-09-300001975736Avetta LLC, Software & Services 42025-09-300001975736srt:MinimumMemberAvetta LLC, Software & Services 42025-09-300001975736srt:MaximumMemberAvetta LLC, Software & Services 42025-09-300001975736BCA Marketplace Ltd, Commercial & Professional Services 12025-09-300001975736srt:MinimumMemberBCA Marketplace Ltd, Commercial & Professional Services 12025-09-300001975736srt:MaximumMemberBCA Marketplace Ltd, Commercial & Professional Services 12025-09-300001975736BCA Marketplace Ltd, Commercial & Professional Services 22025-09-300001975736srt:MinimumMemberBCA Marketplace Ltd, Commercial & Professional Services 22025-09-300001975736srt:MaximumMemberBCA Marketplace Ltd, Commercial & Professional Services 22025-09-300001975736Bonterra LLC, Software & Services 12025-09-300001975736Bonterra LLC, Software & Services 22025-09-300001975736Bonterra LLC, Software & Services 32025-09-300001975736Bonterra LLC, Software & Services 42025-09-300001975736Cadence Education LLC, Consumer Services 12025-09-300001975736Cadence Education LLC, Consumer Services 22025-09-300001975736Cadence Education LLC, Consumer Services 32025-09-300001975736Cadence Education LLC, Consumer Services 42025-09-300001975736Cambrex Corp, Pharmaceuticals, Biotechnology & Life Sciences 12025-09-300001975736srt:MinimumMemberCambrex Corp, Pharmaceuticals, Biotechnology & Life Sciences 12025-09-300001975736srt:MaximumMemberCambrex Corp, Pharmaceuticals, Biotechnology & Life Sciences 12025-09-300001975736Cambrex Corp, Pharmaceuticals, Biotechnology & Life Sciences 22025-09-300001975736Cambrex Corp, Pharmaceuticals, Biotechnology & Life Sciences 32025-09-300001975736Cambrex Corp, Pharmaceuticals, Biotechnology & Life Sciences 42025-09-300001975736srt:MinimumMemberCambrex Corp, Pharmaceuticals, Biotechnology & Life Sciences 42025-09-300001975736srt:MaximumMemberCambrex Corp, Pharmaceuticals, Biotechnology & Life Sciences 42025-09-300001975736Carrier Fire Protection, Commercial & Professional Services 12025-09-300001975736Carrier Fire Protection, Commercial & Professional Services 22025-09-300001975736srt:MinimumMemberCarrier Fire Protection, Commercial & Professional Services 22025-09-300001975736srt:MaximumMemberCarrier Fire Protection, Commercial & Professional Services 22025-09-300001975736Carrier Fire Protection, Commercial & Professional Services 32025-09-300001975736srt:MinimumMemberCarrier Fire Protection, Commercial & Professional Services 32025-09-300001975736srt:MaximumMemberCarrier Fire Protection, Commercial & Professional Services 32025-09-300001975736Carrier Fire Protection, Commercial & Professional Services 42025-09-300001975736srt:MinimumMemberCarrier Fire Protection, Commercial & Professional Services 42025-09-300001975736srt:MaximumMemberCarrier Fire Protection, Commercial & Professional Services 42025-09-300001975736Carrier Fire Protection, Commercial & Professional Services 52025-09-300001975736Carrier Fire Protection, Commercial & Professional Services 62025-09-300001975736Carrier Fire Protection, Commercial & Professional Services 72025-09-300001975736srt:MinimumMemberCarrier Fire Protection, Commercial & Professional Services 72025-09-300001975736srt:MaximumMemberCarrier Fire Protection, Commercial & Professional Services 72025-09-300001975736Carrier Fire Protection, Commercial & Professional Services 82025-09-300001975736Circana Group (f.k.a. NPD Group), Consumer Services 12025-09-300001975736Circana Group (f.k.a. NPD Group), Consumer Services 22025-09-300001975736Clarience Technologies LLC, Capital Goods 12025-09-300001975736srt:MinimumMemberClarience Technologies LLC, Capital Goods 12025-09-300001975736srt:MaximumMemberClarience Technologies LLC, Capital Goods 12025-09-300001975736Clarience Technologies LLC, Capital Goods 22025-09-300001975736Clarience Technologies LLC, Capital Goods 32025-09-300001975736srt:MinimumMemberClarience Technologies LLC, Capital Goods 32025-09-300001975736srt:MaximumMemberClarience Technologies LLC, Capital Goods 32025-09-300001975736Clarience Technologies LLC, Capital Goods 42025-09-300001975736CLEAResult Consulting Inc, Commercial & Professional Services 12025-09-300001975736srt:MinimumMemberCLEAResult Consulting Inc, Commercial & Professional Services 12025-09-300001975736srt:MaximumMemberCLEAResult Consulting Inc, Commercial & Professional Services 12025-09-300001975736CLEAResult Consulting Inc, Commercial & Professional Services 22025-09-300001975736srt:MinimumMemberCLEAResult Consulting Inc, Commercial & Professional Services 22025-09-300001975736srt:MaximumMemberCLEAResult Consulting Inc, Commercial & Professional Services 22025-09-300001975736CLEAResult Consulting Inc, Commercial & Professional Services 32025-09-300001975736ClubCorp Club Operations Inc, Consumer Services 12025-09-300001975736ClubCorp Club Operations Inc, Consumer Services 22025-09-300001975736ClubCorp Club Operations Inc, Consumer Services 32025-09-300001975736Community Brands Inc, Software & Services 12025-09-300001975736Community Brands Inc, Software & Services 22025-09-300001975736Community Brands Inc, Software & Services 32025-09-300001975736CPM Holdings Inc, Capital Goods2025-09-300001975736CSafe Global, Transportation 12025-09-300001975736CSafe Global, Transportation 22025-09-300001975736CSafe Global, Transportation 32025-09-300001975736CSafe Global, Transportation 42025-09-300001975736Dental365 LLC, Health Care Equipment & Services 12025-09-300001975736Dental365 LLC, Health Care Equipment & Services 22025-09-300001975736Dental365 LLC, Health Care Equipment & Services 32025-09-300001975736Dental365 LLC, Health Care Equipment & Services 42025-09-300001975736DuBois Chemicals Inc, Materials 12025-09-300001975736DuBois Chemicals Inc, Materials 22025-09-300001975736DuBois Chemicals Inc, Materials 32025-09-300001975736Eagle Railcar Services Roscoe Inc, Transportation 12025-09-300001975736Eagle Railcar Services Roscoe Inc, Transportation 22025-09-300001975736Eagle Railcar Services Roscoe Inc, Transportation 32025-09-300001975736Excelitas Technologies Corp, Technology Hardware & Equipment2025-09-300001975736Flexera Software LLC, Software & Services 12025-09-300001975736srt:MinimumMemberFlexera Software LLC, Software & Services 12025-09-300001975736srt:MaximumMemberFlexera Software LLC, Software & Services 12025-09-300001975736Flexera Software LLC, Software & Services 22025-09-300001975736srt:MinimumMemberFlexera Software LLC, Software & Services 22025-09-300001975736srt:MaximumMemberFlexera Software LLC, Software & Services 22025-09-300001975736Flexera Software LLC, Software & Services 32025-09-300001975736Follett Software Co, Software & Services 12025-09-300001975736Follett Software Co, Software & Services 22025-09-300001975736Frontline Road Safety LLC, Capital Goods 12025-09-300001975736srt:MinimumMemberFrontline Road Safety LLC, Capital Goods 12025-09-300001975736srt:MaximumMemberFrontline Road Safety LLC, Capital Goods 12025-09-300001975736Frontline Road Safety LLC, Capital Goods 22025-09-300001975736Frontline Road Safety LLC, Capital Goods 32025-09-300001975736srt:MinimumMemberFrontline Road Safety LLC, Capital Goods 32025-09-300001975736srt:MaximumMemberFrontline Road Safety LLC, Capital Goods 32025-09-300001975736Frontline Road Safety LLC, Capital Goods 42025-09-300001975736Frontline Road Safety LLC, Capital Goods 52025-09-300001975736srt:MinimumMemberFrontline Road Safety LLC, Capital Goods 52025-09-300001975736srt:MaximumMemberFrontline Road Safety LLC, Capital Goods 52025-09-300001975736Galway Partners Holdings LLC, Insurance 12025-09-300001975736Galway Partners Holdings LLC, Insurance 22025-09-300001975736srt:MinimumMemberGalway Partners Holdings LLC, Insurance 22025-09-300001975736srt:MaximumMemberGalway Partners Holdings LLC, Insurance 22025-09-300001975736Galway Partners Holdings LLC, Insurance 32025-09-300001975736Gigamon Inc, Software & Services2025-09-300001975736Hexion International Cooperatief UA, Materials2025-09-300001975736Homrich & Berg Inc, Financial Services 12025-09-300001975736Homrich & Berg Inc, Financial Services 22025-09-300001975736Homrich & Berg Inc, Financial Services 32025-09-300001975736Horizon CTS Buyer LLC, Capital Goods 12025-09-300001975736srt:MinimumMemberHorizon CTS Buyer LLC, Capital Goods 12025-09-300001975736srt:MaximumMemberHorizon CTS Buyer LLC, Capital Goods 12025-09-300001975736Horizon CTS Buyer LLC, Capital Goods 22025-09-300001975736Horizon CTS Buyer LLC, Capital Goods 32025-09-300001975736srt:MinimumMemberHorizon CTS Buyer LLC, Capital Goods 32025-09-300001975736srt:MaximumMemberHorizon CTS Buyer LLC, Capital Goods 32025-09-300001975736Horizon CTS Buyer LLC, Capital Goods 42025-09-300001975736Inhabit IQ, Software & Services 12025-09-300001975736srt:MinimumMemberInhabit IQ, Software & Services 12025-09-300001975736srt:MaximumMemberInhabit IQ, Software & Services 12025-09-300001975736Inhabit IQ, Software & Services 22025-09-300001975736srt:MinimumMemberInhabit IQ, Software & Services 22025-09-300001975736srt:MaximumMemberInhabit IQ, Software & Services 22025-09-300001975736Inhabit IQ, Software & Services 32025-09-300001975736Insightsoftware.Com Inc, Software & Services 12025-09-300001975736Insightsoftware.Com Inc, Software & Services 22025-09-300001975736Insightsoftware.Com Inc, Software & Services 32025-09-300001975736Insightsoftware.Com Inc, Software & Services 42025-09-300001975736Insightsoftware.Com Inc, Software & Services 52025-09-300001975736Integrated Power Services LLC, Commercial & Professional Services2025-09-300001975736Integrity Marketing Group LLC, Insurance 12025-09-300001975736Integrity Marketing Group LLC, Insurance 22025-09-300001975736Integrity Marketing Group LLC, Insurance 32025-09-300001975736IntraFi Network LLC, Financial Services2025-09-300001975736J S Held LLC, Insurance 12025-09-300001975736J S Held LLC, Insurance 22025-09-300001975736J S Held LLC, Insurance 32025-09-300001975736J S Held LLC, Insurance 42025-09-300001975736Keystone Agency Partners LLC, Insurance 12025-09-300001975736srt:MinimumMemberKeystone Agency Partners LLC, Insurance 12025-09-300001975736srt:MaximumMemberKeystone Agency Partners LLC, Insurance 12025-09-300001975736Keystone Agency Partners LLC, Insurance 22025-09-300001975736srt:MinimumMemberKeystone Agency Partners LLC, Insurance 22025-09-300001975736srt:MaximumMemberKeystone Agency Partners LLC, Insurance 22025-09-300001975736Keystone Agency Partners LLC, Insurance 32025-09-300001975736Learning Experience Corp/The, Consumer Services 12025-09-300001975736srt:MinimumMemberLearning Experience Corp/The, Consumer Services 12025-09-300001975736srt:MaximumMemberLearning Experience Corp/The, Consumer Services 12025-09-300001975736Learning Experience Corp/The, Consumer Services 22025-09-300001975736Legends Hospitality LLC, Consumer Services 12025-09-300001975736srt:MinimumMemberLegends Hospitality LLC, Consumer Services 12025-09-300001975736srt:MaximumMemberLegends Hospitality LLC, Consumer Services 12025-09-300001975736Legends Hospitality LLC, Consumer Services 22025-09-300001975736srt:MinimumMemberLegends Hospitality LLC, Consumer Services 22025-09-300001975736srt:MaximumMemberLegends Hospitality LLC, Consumer Services 22025-09-300001975736Legends Hospitality LLC, Consumer Services 32025-09-300001975736srt:MinimumMemberLegends Hospitality LLC, Consumer Services 32025-09-300001975736srt:MaximumMemberLegends Hospitality LLC, Consumer Services 32025-09-300001975736Legends Hospitality LLC, Consumer Services 42025-09-300001975736srt:MinimumMemberLegends Hospitality LLC, Consumer Services 42025-09-300001975736srt:MaximumMemberLegends Hospitality LLC, Consumer Services 42025-09-300001975736MAI Capital Management LLC, Financial Services 12025-09-300001975736srt:MinimumMemberMAI Capital Management LLC, Financial Services 12025-09-300001975736srt:MaximumMemberMAI Capital Management LLC, Financial Services 12025-09-300001975736MAI Capital Management LLC, Financial Services 22025-09-300001975736MAI Capital Management LLC, Financial Services 32025-09-300001975736srt:MinimumMemberMAI Capital Management LLC, Financial Services 32025-09-300001975736srt:MaximumMemberMAI Capital Management LLC, Financial Services 32025-09-300001975736MAI Capital Management LLC, Financial Services 42025-09-300001975736MAI Capital Management LLC, Financial Services 52025-09-300001975736srt:MinimumMemberMAI Capital Management LLC, Financial Services 52025-09-300001975736srt:MaximumMemberMAI Capital Management LLC, Financial Services 52025-09-300001975736Med-Metrix, Software & Services 12025-09-300001975736srt:MinimumMemberMed-Metrix, Software & Services 12025-09-300001975736srt:MaximumMemberMed-Metrix, Software & Services 12025-09-300001975736Med-Metrix, Software & Services 22025-09-300001975736srt:MinimumMemberMed-Metrix, Software & Services 22025-09-300001975736srt:MaximumMemberMed-Metrix, Software & Services 22025-09-300001975736Med-Metrix, Software & Services 32025-09-300001975736Mercer Advisors Inc, Financial Services 12025-09-300001975736Mercer Advisors Inc, Financial Services 22025-09-300001975736Milano Acquisition Corp, Health Care Equipment & Services2025-09-300001975736Misys Ltd, Software & Services2025-09-300001975736Model N Inc, Software & Services 12025-09-300001975736srt:MinimumMemberModel N Inc, Software & Services 12025-09-300001975736srt:MaximumMemberModel N Inc, Software & Services 12025-09-300001975736Model N Inc, Software & Services 22025-09-300001975736srt:MinimumMemberModel N Inc, Software & Services 22025-09-300001975736srt:MaximumMemberModel N Inc, Software & Services 22025-09-300001975736Model N Inc, Software & Services 32025-09-300001975736NeoGov Newt Holdco Inc, Software & Services 12025-09-300001975736srt:MinimumMemberNeoGov Newt Holdco Inc, Software & Services 12025-09-300001975736srt:MaximumMemberNeoGov Newt Holdco Inc, Software & Services 12025-09-300001975736NeoGov Newt Holdco Inc, Software & Services 22025-09-300001975736NeoGov Newt Holdco Inc, Software & Services 32025-09-300001975736NeoGov Newt Holdco Inc, Software & Services 42025-09-300001975736srt:MinimumMemberNeoGov Newt Holdco Inc, Software & Services 42025-09-300001975736srt:MaximumMemberNeoGov Newt Holdco Inc, Software & Services 42025-09-300001975736Netsmart Technologies Inc, Health Care Equipment & Services 12025-09-300001975736srt:MinimumMemberNetsmart Technologies Inc, Health Care Equipment & Services 12025-09-300001975736srt:MaximumMemberNetsmart Technologies Inc, Health Care Equipment & Services 12025-09-300001975736Netsmart Technologies Inc, Health Care Equipment & Services 22025-09-300001975736srt:MinimumMemberNetsmart Technologies Inc, Health Care Equipment & Services 22025-09-300001975736srt:MaximumMemberNetsmart Technologies Inc, Health Care Equipment & Services 22025-09-300001975736Netsmart Technologies Inc, Health Care Equipment & Services 32025-09-300001975736OEConnection LLC, Software & Services 12025-09-300001975736srt:MinimumMemberOEConnection LLC, Software & Services 12025-09-300001975736srt:MaximumMemberOEConnection LLC, Software & Services 12025-09-300001975736OEConnection LLC, Software & Services 22025-09-300001975736OEConnection LLC, Software & Services 32025-09-300001975736srt:MinimumMemberOEConnection LLC, Software & Services 32025-09-300001975736srt:MaximumMemberOEConnection LLC, Software & Services 32025-09-300001975736PCI Pharma Services, Health Care Equipment & Services 12025-09-300001975736PCI Pharma Services, Health Care Equipment & Services 22025-09-300001975736PCI Pharma Services, Health Care Equipment & Services 32025-09-300001975736PCI Pharma Services, Health Care Equipment & Services 42025-09-300001975736Precisely Software Inc, Software & Services2025-09-300001975736PSC Group, Transportation 12025-09-300001975736PSC Group, Transportation 22025-09-300001975736PSC Group, Transportation 32025-09-300001975736PSC Group, Transportation 42025-09-300001975736PSKW LLC (dba ConnectiveRx), Health Care Equipment & Services2025-09-300001975736Radwell International LLC, Capital Goods2025-09-300001975736Railpros Inc, Commercial & Professional Services 12025-09-300001975736Railpros Inc, Commercial & Professional Services 22025-09-300001975736Railpros Inc, Commercial & Professional Services 32025-09-300001975736Resa Power LLC, Commercial & Professional Services 12025-09-300001975736srt:MinimumMemberResa Power LLC, Commercial & Professional Services 12025-09-300001975736srt:MaximumMemberResa Power LLC, Commercial & Professional Services 12025-09-300001975736Resa Power LLC, Commercial & Professional Services 22025-09-300001975736srt:MinimumMemberResa Power LLC, Commercial & Professional Services 22025-09-300001975736srt:MaximumMemberResa Power LLC, Commercial & Professional Services 22025-09-300001975736Resa Power LLC, Commercial & Professional Services 32025-09-300001975736Revere Superior Holdings Inc, Software & Services 12025-09-300001975736Revere Superior Holdings Inc, Software & Services 22025-09-300001975736Revere Superior Holdings Inc, Software & Services 32025-09-300001975736Revere Superior Holdings Inc, Software & Services 42025-09-300001975736Revere Superior Holdings Inc, Software & Services 52025-09-300001975736Rialto Capital Management LLC, Financial Services 12025-09-300001975736Rialto Capital Management LLC, Financial Services 22025-09-300001975736Rockefeller Capital Management LP, Financial Services 12025-09-300001975736Rockefeller Capital Management LP, Financial Services 22025-09-300001975736RxBenefits Inc, Health Care Equipment & Services2025-09-300001975736Service Express Inc, Commercial & Professional Services 12025-09-300001975736srt:MinimumMemberService Express Inc, Commercial & Professional Services 12025-09-300001975736srt:MaximumMemberService Express Inc, Commercial & Professional Services 12025-09-300001975736Service Express Inc, Commercial & Professional Services 22025-09-300001975736srt:MinimumMemberService Express Inc, Commercial & Professional Services 22025-09-300001975736srt:MaximumMemberService Express Inc, Commercial & Professional Services 22025-09-300001975736Service Express Inc, Commercial & Professional Services 32025-09-300001975736Solera LLC, Software & Services2025-09-300001975736Sphera Solutions Inc, Software & Services 12025-09-300001975736Sphera Solutions Inc, Software & Services 22025-09-300001975736Sphera Solutions Inc, Software & Services 32025-09-300001975736Sphera Solutions Inc, Software & Services 42025-09-300001975736Spins LLC, Software & Services 12025-09-300001975736Spins LLC, Software & Services 22025-09-300001975736Spotless Brands LLC, Consumer Services 12025-09-300001975736Spotless Brands LLC, Consumer Services 22025-09-300001975736Spotless Brands LLC, Consumer Services 32025-09-300001975736Spotless Brands LLC, Consumer Services 42025-09-300001975736STV Group Inc, Capital Goods 12025-09-300001975736STV Group Inc, Capital Goods 22025-09-300001975736STV Group Inc, Capital Goods 32025-09-300001975736SureScripts LLC, Health Care Equipment & Services 12025-09-300001975736SureScripts LLC, Health Care Equipment & Services 22025-09-300001975736Trackunit ApS, Software & Services 12025-09-300001975736srt:MinimumMemberTrackunit ApS, Software & Services 12025-09-300001975736srt:MaximumMemberTrackunit ApS, Software & Services 12025-09-300001975736Trackunit ApS, Software & Services 22025-09-300001975736srt:MinimumMemberTrackunit ApS, Software & Services 22025-09-300001975736srt:MaximumMemberTrackunit ApS, Software & Services 22025-09-300001975736Turnpoint Services Inc, Capital Goods 12025-09-300001975736srt:MinimumMemberTurnpoint Services Inc, Capital Goods 12025-09-300001975736srt:MaximumMemberTurnpoint Services Inc, Capital Goods 12025-09-300001975736Turnpoint Services Inc, Capital Goods 22025-09-300001975736srt:MinimumMemberTurnpoint Services Inc, Capital Goods 22025-09-300001975736srt:MaximumMemberTurnpoint Services Inc, Capital Goods 22025-09-300001975736Turnpoint Services Inc, Capital Goods 32025-09-300001975736srt:MinimumMemberTurnpoint Services Inc, Capital Goods 32025-09-300001975736srt:MaximumMemberTurnpoint Services Inc, Capital Goods 32025-09-300001975736Turnpoint Services Inc, Capital Goods 42025-09-300001975736srt:MinimumMemberTurnpoint Services Inc, Capital Goods 42025-09-300001975736srt:MaximumMemberTurnpoint Services Inc, Capital Goods 42025-09-300001975736USIC Holdings Inc, Commercial & Professional Services 12025-09-300001975736USIC Holdings Inc, Commercial & Professional Services 22025-09-300001975736USIC Holdings Inc, Commercial & Professional Services 32025-09-300001975736USIC Holdings Inc, Commercial & Professional Services 42025-09-300001975736Veriforce LLC, Software & Services 12025-09-300001975736Veriforce LLC, Software & Services 22025-09-300001975736Veriforce LLC, Software & Services 32025-09-300001975736Veriforce LLC, Software & Services 42025-09-300001975736Veriforce LLC, Software & Services 52025-09-300001975736srt:MinimumMemberVeriforce LLC, Software & Services 52025-09-300001975736srt:MaximumMemberVeriforce LLC, Software & Services 52025-09-300001975736Vermont Information Processing Inc, Software & Services 12025-09-300001975736srt:MinimumMemberVermont Information Processing Inc, Software & Services 12025-09-300001975736srt:MaximumMemberVermont Information Processing Inc, Software & Services 12025-09-300001975736Vermont Information Processing Inc, Software & Services 22025-09-300001975736Vermont Information Processing Inc, Software & Services 32025-09-300001975736srt:MinimumMemberVermont Information Processing Inc, Software & Services 32025-09-300001975736srt:MaximumMemberVermont Information Processing Inc, Software & Services 32025-09-300001975736Vermont Information Processing Inc, Software & Services 42025-09-300001975736VetCor Professional Practices LLC, Health Care Equipment & Services 12025-09-300001975736VetCor Professional Practices LLC, Health Care Equipment & Services 22025-09-300001975736VetCor Professional Practices LLC, Health Care Equipment & Services 32025-09-300001975736Vitu, Software & Services 12025-09-300001975736Vitu, Software & Services 22025-09-300001975736Wealth Enhancement Group LLC, Financial Services 12025-09-300001975736Wealth Enhancement Group LLC, Financial Services 22025-09-300001975736Wealth Enhancement Group LLC, Financial Services 32025-09-300001975736Wealth Enhancement Group LLC, Financial Services 42025-09-300001975736Wedgewood Weddings, Consumer Services 12025-09-300001975736Wedgewood Weddings, Consumer Services 22025-09-300001975736Wedgewood Weddings, Consumer Services 32025-09-300001975736West Star Aviation Inc, Capital Goods 12025-09-300001975736srt:MinimumMemberWest Star Aviation Inc, Capital Goods 12025-09-300001975736srt:MaximumMemberWest Star Aviation Inc, Capital Goods 12025-09-300001975736West Star Aviation Inc, Capital Goods 22025-09-300001975736West Star Aviation Inc, Capital Goods 32025-09-300001975736srt:MinimumMemberWest Star Aviation Inc, Capital Goods 32025-09-300001975736srt:MaximumMemberWest Star Aviation Inc, Capital Goods 32025-09-300001975736West Star Aviation Inc, Capital Goods 42025-09-300001975736Woolpert Inc, Capital Goods 12025-09-300001975736Woolpert Inc, Capital Goods 22025-09-300001975736Woolpert Inc, Capital Goods 32025-09-300001975736Woolpert Inc, Capital Goods 42025-09-300001975736Xylem Kendall, Commercial & Professional Services 12025-09-300001975736Xylem Kendall, Commercial & Professional Services 22025-09-300001975736Xylem Kendall, Commercial & Professional Services 32025-09-300001975736Xylem Kendall, Commercial & Professional Services 42025-09-300001975736kfits:FundedSeniorSecuredLoansFirstLienMember2025-09-300001975736kfits:UnfundedSeniorSecuredLoansFirstLienMember2025-09-300001975736kfits:AssetBasedFinanceMember2025-09-300001975736Auxilior Capital Partners Inc, Preferred Equity, Financial Services2025-09-300001975736srt:MinimumMemberAuxilior Capital Partners Inc, Preferred Equity, Financial Services2025-09-300001975736srt:MaximumMemberAuxilior Capital Partners Inc, Preferred Equity, Financial Services2025-09-300001975736CAFL 2024-RTL1 Issuer LLC, ABS, Real Estate Management & Development2025-09-300001975736Discover Financial Services, ABF Equity, Financial Services2025-09-300001975736Discover Financial Services, Subordinated Loan, Financial Services2025-09-300001975736EFMT 2024-INV1, ABS, Real Estate Management & Development2025-09-300001975736EW Scripps Co/The, Revolver, Media & Entertainment 12025-09-300001975736EW Scripps Co/The, Revolver, Media & Entertainment 22025-09-300001975736Fidelis Mortgage Trust 2025-RTL1, ABS, Real Estate Management & Development2025-09-300001975736FIGRE Trust 2024-HE3, ABS, Real Estate Management & Development2025-09-300001975736Florida Food Products LLC, Revolver, Food, Beverage & Tobacco 12025-09-300001975736Florida Food Products LLC, Revolver, Food, Beverage & Tobacco 22025-09-300001975736Fortna Group Inc, Revolver, Capital Goods 12025-09-300001975736Fortna Group Inc, Revolver, Capital Goods 22025-09-300001975736Global Lending Services LLC, ABF Equity, Financial Services2025-09-300001975736Global Lending Services LLC, Bond, Financial Services 12025-09-300001975736Global Lending Services LLC, Bond, Financial Services 22025-09-300001975736Global Lending Services LLC, Bond, Financial Services 32025-09-300001975736Global Lending Services LLC, Bond, Financial Services 42025-09-300001975736Harley-Davidson Financial Services Inc, ABF Equity, Financial Services2025-09-300001975736HOMES 2024-AFC1 Trust, Structured Mezzanine, Real Estate Management & Development2025-09-300001975736Homeward Opportunities Fund Trust 2024-RRTL2, ABS, Real Estate Management & Development2025-09-300001975736Income Contingent Student Loans 1 2002-2006 PLC, ABS, Financial Services2025-09-300001975736Income Contingent Student Loans 2 2007-2009 PLC, ABS, Financial Services2025-09-300001975736IQUW UK Ltd, Bond, Insurance2025-09-300001975736John Wood Group PLC, Revolver, Capital Goods 12025-09-300001975736John Wood Group PLC, Revolver, Capital Goods 22025-09-300001975736Laurel Road Prime Student Loan Trust 2017-B, ABS, Financial Services2025-09-300001975736LHOME Mortgage Trust 2024-RTL4, ABS, Real Estate Management & Development2025-09-300001975736LHOME Mortgage Trust 2025-RTL3, ABS, Real Estate Management & Development 12025-09-300001975736LHOME Mortgage Trust 2025-RTL3, ABS, Real Estate Management & Development 22025-09-300001975736Morgan Stanley Residential Mortgage Loan Trust 2025-DSC3, ABS, Real Estate Management & Development 12025-09-300001975736Morgan Stanley Residential Mortgage Loan Trust 2025-DSC3, ABS, Real Estate Management & Development 22025-09-300001975736Morgan Stanley Residential Mortgage Loan Trust 2025-DSC3, ABS, Real Estate Management & Development 32025-09-300001975736Morgan Stanley Residential Mortgage Loan Trust 2025-DSC3, ABS, Real Estate Management & Development 42025-09-300001975736Morgan Stanley Residential Mortgage Loan Trust 2025-HX1, ABS, Real Estate Management & Development 12025-09-300001975736Morgan Stanley Residential Mortgage Loan Trust 2025-HX1, ABS, Real Estate Management & Development 22025-09-300001975736Morgan Stanley Residential Mortgage Loan Trust 2025-HX1, ABS, Real Estate Management & Development 32025-09-300001975736Morgan Stanley Residential Mortgage Loan Trust 2025-HX1, ABS, Real Estate Management & Development 42025-09-300001975736Morgan Stanley Residential Mortgage Loan Trust 2025-HX1, ABS, Real Estate Management & Development 52025-09-300001975736Morgan Stanley Residential Mortgage Loan Trust 2025-NQM6, ABS, Real Estate Management & Development 12025-09-300001975736Morgan Stanley Residential Mortgage Loan Trust 2025-NQM6, ABS, Real Estate Management & Development 22025-09-300001975736Morgan Stanley Residential Mortgage Loan Trust 2025-NQM6, ABS, Real Estate Management & Development 32025-09-300001975736Morgan Stanley Residential Mortgage Loan Trust 2025-NQM6, ABS, Real Estate Management & Development 42025-09-300001975736Newday Group Jersey Ltd, ABF Equity, Financial Services2025-09-300001975736Norway_France, ABF Equity, Financial Services2025-09-300001975736Opendoor Labs Inc, Structured Mezzanine, Real Estate Management & Development 12025-09-300001975736Opendoor Labs Inc, Structured Mezzanine, Real Estate Management & Development 22025-09-300001975736Philippine Airlines 777, Term Loan, Transportation 12025-09-300001975736Philippine Airlines 777, Term Loan, Transportation 22025-09-300001975736Philippine Airlines 777, Term Loan, Transportation 32025-09-300001975736Philippine Airlines 777, Term Loan, Transportation 42025-09-300001975736Powin Energy Corp/NV, Warrants, Capital Goods2025-09-300001975736Pretium Partners LLC P1, Structured Mezzanine, Equity Real Estate Investment Trusts (REITs)2025-09-300001975736srt:MinimumMemberPretium Partners LLC P1, Structured Mezzanine, Equity Real Estate Investment Trusts (REITs)2025-09-300001975736srt:MaximumMemberPretium Partners LLC P1, Structured Mezzanine, Equity Real Estate Investment Trusts (REITs)2025-09-300001975736Progress Residential 2024-SFR4 Trust, Structured Mezzanine, Real Estate Management & Development2025-09-300001975736PRPM 2024-RCF4 LLC, ABS, Real Estate Management & Development2025-09-300001975736PRPM 2024-RCF5 LLC, ABS, Real Estate Management & Development2025-09-300001975736Rain City Mortgage Trust 2024-RTL1, ABS, Real Estate Management & Development2025-09-300001975736Rosemawr Management LLC, ABS, Utilities2025-09-300001975736Rosemawr Management LLC, Structured Mezzanine, Utilities2025-09-300001975736Santander Consumer Bank AS, ABF Equity, Banks2025-09-300001975736Santander Mortgage Asset Receivable Trust 2025-NQM1, ABS, Real Estate Management & Development 12025-09-300001975736Santander Mortgage Asset Receivable Trust 2025-NQM1, ABS, Real Estate Management & Development 22025-09-300001975736Santander Mortgage Asset Receivable Trust 2025-NQM1, ABS, Real Estate Management & Development 32025-09-300001975736Santander Mortgage Asset Receivable Trust 2025-NQM1, ABS, Real Estate Management & Development 42025-09-300001975736Santander Mortgage Asset Receivable Trust 2025-NQM4, ABS, Real Estate Management & Development 12025-09-300001975736Santander Mortgage Asset Receivable Trust 2025-NQM4, ABS, Real Estate Management & Development 22025-09-300001975736Santander Mortgage Asset Receivable Trust 2025-NQM4, ABS, Real Estate Management & Development 32025-09-300001975736Slate Venture Holdings LP, ABF Equity, Consumer Durables & Apparel2025-09-300001975736Slate Venture Holdings LP, Term Loan, Consumer Durables & Apparel2025-09-300001975736srt:MinimumMemberSlate Venture Holdings LP, Term Loan, Consumer Durables & Apparel2025-09-300001975736srt:MaximumMemberSlate Venture Holdings LP, Term Loan, Consumer Durables & Apparel2025-09-300001975736Trinseo Materials Operating SCA / Trinseo Materials Finance Inc, Revolver, Materials 12025-09-300001975736Trinseo Materials Operating SCA / Trinseo Materials Finance Inc, Revolver, Materials 22025-09-300001975736Tropicana Products Inc, Revolver, Food, Beverage & Tobacco 12025-09-300001975736Tropicana Products Inc, Revolver, Food, Beverage & Tobacco 22025-09-300001975736Unison Trust 2025-1, ABS, Real Estate Management & Development2025-09-300001975736Vietjet Aviation JSC, Term Loan, Transportation 12025-09-300001975736Vietjet Aviation JSC, Term Loan, Transportation 22025-09-300001975736Vontive Mortgage Trust 2025-RTL1, ABS, Real Estate Management & Development 12025-09-300001975736Vontive Mortgage Trust 2025-RTL1, ABS, Real Estate Management & Development 22025-09-300001975736kfits:FundedAssetBasedFinanceMember2025-09-300001975736kfits:UnfundedAssetBasedFiannceMember2025-09-300001975736Goldman Sachs Bank USA, EUR, May 20282025-09-300001975736Goldman Sachs Bank USA, EUR, February 20272025-09-300001975736Goldman Sachs Bank USA, GBP, June 20262025-09-300001975736Goldman Sachs Bank USA,GBP, November 20272025-09-300001975736Goldman Sachs Bank USA, GBP, March 20292025-09-300001975736Goldman Sachs Bank USA, NOK, January 20282025-09-300001975736Goldman Sachs Bank USA, Foreign Exchange Forward2025-09-300001975736us-gaap:SecuredOvernightFinancingRateSofrMember2025-09-300001975736kfits:SterlingOvernightIndexAverageMember2025-09-300001975736kfits:EuroInterbankOfferedRateEURIBORMember2025-09-300001975736us-gaap:InvestmentsMemberkfits:QualifyingAssetsConcentrationRiskMemberus-gaap:AssetsTotalMember2025-01-012025-09-300001975736Discover Financial Services, ABF Equity, Financial Services2024-12-310001975736Discover Financial Services, ABF Equity, Financial Services2025-01-012025-09-300001975736Discover Financial Services, Subordinated Loan, Financial Services2024-12-310001975736Discover Financial Services, Subordinated Loan, Financial Services2025-01-012025-09-300001975736kfits:SeniorSecuredLoansFirstLienMember2024-12-310001975736Advanced Dermatology & Cosmetic Surgery, Health Care Equipment & Services2024-12-310001975736Affordable Care Inc, Health Care Equipment & Services2024-12-310001975736srt:MaximumMemberAffordable Care Inc, Health Care Equipment & Services2024-12-310001975736Alera Group Intermediate Holdings Inc, Insurance2024-12-310001975736Amerivet Partners Management Inc, Health Care Equipment & Services2024-12-310001975736Arcfield Acquisition Corp, Capital Goods 12024-12-310001975736Arcfield Acquisition Corp, Capital Goods 22024-12-310001975736Ardonagh Group Ltd/The, Insurance2024-12-310001975736Area Wide Protective Inc, Commercial & Professional Services 12024-12-310001975736Area Wide Protective Inc, Commercial & Professional Services 22024-12-310001975736Avetta LLC, Software & Services 12024-12-310001975736srt:MaximumMemberAvetta LLC, Software & Services 12024-12-310001975736Avetta LLC, Software & Services 22024-12-310001975736Avetta LLC, Software & Services 32024-12-310001975736srt:MaximumMemberAvetta LLC, Software & Services 32024-12-310001975736Cadence Education LLC, Consumer Services 12024-12-310001975736Cadence Education LLC, Consumer Services 22024-12-310001975736Cadence Education LLC, Consumer Services 32024-12-310001975736Cadence Education LLC, Consumer Services 42024-12-310001975736Carrier Fire Protection, Commercial & Professional Services 12024-12-310001975736srt:MaximumMemberCarrier Fire Protection, Commercial & Professional Services 12024-12-310001975736Carrier Fire Protection, Commercial & Professional Services 22024-12-310001975736srt:MaximumMemberCarrier Fire Protection, Commercial & Professional Services 22024-12-310001975736Carrier Fire Protection, Financial Services 12024-12-310001975736Carrier Fire Protection, Commercial & Professional Services 32024-12-310001975736srt:MaximumMemberCarrier Fire Protection, Commercial & Professional Services 32024-12-310001975736Carrier Fire Protection, Commercial & Professional Services 42024-12-310001975736Carrier Fire Protection, Financial Services 22024-12-310001975736CLEAResult Consulting Inc, Commercial & Professional Services 12024-12-310001975736srt:MaximumMemberCLEAResult Consulting Inc, Commercial & Professional Services 12024-12-310001975736CLEAResult Consulting Inc, Commercial & Professional Services 22024-12-310001975736CLEAResult Consulting Inc, Commercial & Professional Services 32024-12-310001975736srt:MaximumMemberCLEAResult Consulting Inc, Commercial & Professional Services 32024-12-310001975736CLEAResult Consulting Inc, Commercial & Professional Services 42024-12-310001975736Community Brands Inc, Software & Services 12024-12-310001975736Community Brands Inc, Software & Services 22024-12-310001975736Community Brands Inc, Software & Services 32024-12-310001975736CSafe Global, Transportation 12024-12-310001975736CSafe Global, Transportation 22024-12-310001975736CSafe Global, Transportation 32024-12-310001975736CSafe Global, Transportation 42024-12-310001975736Dental365 LLC, Health Care Equipment & Services 12024-12-310001975736Dental365 LLC, Health Care Equipment & Services 22024-12-310001975736Dental365 LLC, Health Care Equipment & Services 32024-12-310001975736Dental365 LLC, Health Care 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Software & Services 22024-12-310001975736Insightsoftware.Com Inc, Software & Services 32024-12-310001975736Insightsoftware.Com Inc, Software & Services 42024-12-310001975736Integrated Power Services LLC, Commercial & Professional Services2024-12-310001975736Integrity Marketing Group LLC, Insurance2024-12-310001975736J S Held LLC, Insurance 12024-12-310001975736J S Held LLC, Insurance 22024-12-310001975736J S Held LLC, Insurance 32024-12-310001975736Karman Space Inc, Capital Goods2024-12-310001975736Legends Hospitality LLC, Consumer Services 12024-12-310001975736srt:MaximumMemberLegends Hospitality LLC, Consumer Services 12024-12-310001975736Legends Hospitality LLC, Consumer Services 22024-12-310001975736srt:MaximumMemberLegends Hospitality LLC, Consumer Services 22024-12-310001975736Legends Hospitality LLC, Consumer Services 32024-12-310001975736srt:MaximumMemberLegends Hospitality LLC, Consumer Services 32024-12-310001975736Legends Hospitality LLC, Consumer Services 42024-12-310001975736srt:MaximumMemberLegends Hospitality LLC, Consumer Services 42024-12-310001975736MAI Capital Management LLC, Financial Services 12024-12-310001975736srt:MaximumMemberMAI Capital Management LLC, Financial Services 12024-12-310001975736MAI Capital Management LLC, Financial Services 22024-12-310001975736MAI Capital Management LLC, Financial Services 32024-12-310001975736srt:MaximumMemberMAI Capital Management LLC, Financial Services 32024-12-310001975736MAI Capital Management LLC, Financial Services 42024-12-310001975736Mercer Advisors Inc, Financial Services 12024-12-310001975736Mercer Advisors Inc, Financial Services 22024-12-310001975736Model N Inc, Software & Services 12024-12-310001975736srt:MaximumMemberModel N Inc, Software & Services 12024-12-310001975736Model N Inc, Software & Services 22024-12-310001975736srt:MaximumMemberModel N Inc, Software & Services 22024-12-310001975736Model N Inc, Software & Services 32024-12-310001975736Netsmart Technologies Inc, Health Care Equipment & Services 12024-12-310001975736srt:MaximumMemberNetsmart Technologies Inc, Health Care Equipment & Services 12024-12-310001975736Netsmart Technologies Inc, Health Care Equipment & Services 22024-12-310001975736srt:MaximumMemberNetsmart Technologies Inc, Health Care Equipment & Services 22024-12-310001975736Netsmart Technologies Inc, Health Care Equipment & Services 32024-12-310001975736OEConnection LLC, Software & Services 12024-12-310001975736OEConnection LLC, Software & Services 22024-12-310001975736OEConnection LLC, Software & Services 32024-12-310001975736OEConnection LLC, Software & Services 42024-12-310001975736srt:MaximumMemberOEConnection LLC, Software & Services 42024-12-310001975736PSC Group, Transportation 12024-12-310001975736PSC Group, Transportation 22024-12-310001975736PSC Group, Transportation 32024-12-310001975736PSC Group, Transportation 42024-12-310001975736PSKW LLC (dba ConnectiveRx), Health Care Equipment & Services2024-12-310001975736Revere Superior Holdings Inc, Software & Services 12024-12-310001975736Revere Superior Holdings Inc, Software & Services 22024-12-310001975736Revere Superior Holdings Inc, Software & Services 32024-12-310001975736Revere Superior Holdings Inc, Software & Services 42024-12-310001975736Rialto Capital Management LLC, Financial Services 12024-12-310001975736Rialto Capital Management LLC, Financial Services 22024-12-310001975736Rockefeller Capital Management LP, Financial Services 12024-12-310001975736Rockefeller Capital Management LP, Financial Services 22024-12-310001975736RSC Insurance Brokerage Inc, Insurance2024-12-310001975736Service Express Inc, Commercial & Professional Services 12024-12-310001975736srt:MaximumMemberService Express Inc, Commercial & Professional Services 12024-12-310001975736Service Express Inc, Commercial & Professional Services 22024-12-310001975736Service Express Inc, Commercial & Professional Services 32024-12-310001975736srt:MaximumMemberService Express Inc, Commercial 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Services Inc, Capital Goods 32024-12-310001975736USIC Holdings Inc, Commercial & Professional Services 12024-12-310001975736USIC Holdings Inc, Commercial & Professional Services 22024-12-310001975736USIC Holdings Inc, Commercial & Professional Services 32024-12-310001975736USIC Holdings Inc, Commercial & Professional Services 42024-12-310001975736Veriforce LLC, Software & Services 12024-12-310001975736Veriforce LLC, Software & Services 22024-12-310001975736Veriforce LLC, Software & Services 32024-12-310001975736Veriforce LLC, Software & Services 42024-12-310001975736VetCor Professional Practices LLC, Health Care Equipment & Services2024-12-310001975736Wealth Enhancement Group LLC, Financial Services 12024-12-310001975736Wealth Enhancement Group LLC, Financial Services 22024-12-310001975736Wealth Enhancement Group LLC, Financial Services 32024-12-310001975736Woolpert Inc, Capital Goods 12024-12-310001975736Woolpert Inc, Capital Goods 22024-12-310001975736Woolpert Inc, Capital Goods 32024-12-310001975736Woolpert Inc, Capital Goods 42024-12-310001975736kfits:FundedSeniorSecuredLoansFirstLienMember2024-12-310001975736kfits:UnfundedSeniorSecuredLoansFirstLienMember2024-12-310001975736kfits:AssetBasedFinanceMember2024-12-310001975736Auxilior Capital Partners Inc, Preferred Equity, Financial Services2024-12-310001975736srt:MaximumMemberAuxilior Capital Partners Inc, Preferred Equity, Financial Services2024-12-310001975736CAFL 2024-RTL1 Issuer LLC, ABS, Real Estate Management & Development2024-12-310001975736Discover Financial Services, Subordinated Loan, Financial Services 12024-12-310001975736Discover Financial Services, Subordinated Loan, Financial Services 22024-12-310001975736EFMT 2024-INV1, ABS, Real Estate Management & Development2024-12-310001975736FIGRE Trust 2024-HE3, ABS, Real Estate Management & Development2024-12-310001975736Global Lending Services LLC, ABF Equity, Financial Services2024-12-310001975736Global Lending Services LLC, Bond, Financial Services2024-12-310001975736srt:MaximumMemberGlobal Lending Services LLC, Bond, Financial Services2024-12-310001975736HOMES 2024-AFC1 Trust, Structured Mezzanine, Real Estate Management & Development2024-12-310001975736Homeward Opportunities Fund Trust 2024-RRTL2, ABS, Real Estate Management & Development2024-12-310001975736Lennar Corp, ABF Equity, Consumer Durables & Apparel2024-12-310001975736Lennar Corp, Term Loan, Consumer Durables & Apparel 12024-12-310001975736srt:MaximumMemberLennar Corp, Term Loan, Consumer Durables & Apparel 12024-12-310001975736Lennar Corp, Term Loan, Consumer Durables & Apparel 22024-12-310001975736srt:MaximumMemberLennar Corp, Term Loan, Consumer Durables & Apparel 22024-12-310001975736LHOME Mortgage Trust 2024-RTL4, ABS, Real Estate Management & Development2024-12-310001975736Norway_France, ABF Equity, Financial Services2024-12-310001975736Powin Energy Corp/NV, Revolver, Capital Goods 12024-12-310001975736srt:MaximumMemberPowin Energy Corp/NV, Revolver, Capital Goods 12024-12-310001975736Powin Energy Corp/NV, Revolver, Capital Goods 22024-12-310001975736srt:MaximumMemberPowin Energy Corp/NV, Revolver, Capital Goods 22024-12-310001975736Powin Energy Corp/NV, Warrants, Capital Goods 12024-12-310001975736Powin Energy Corp/NV, Warrants, Capital Goods 22024-12-310001975736Powin Energy Corp/NV, Warrants, Capital Goods 32024-12-310001975736Powin Energy Corp/NV, Warrants, Capital Goods 42024-12-310001975736Pretium Partners LLC P1, Structured Mezzanine, Equity Real Estate Investment Trusts (REITs)2024-12-310001975736srt:MaximumMemberPretium Partners LLC P1, Structured Mezzanine, Equity Real Estate Investment Trusts (REITs)2024-12-310001975736Progress Residential 2024-SFR4 Trust, Structured Mezzanine, Real Estate Management & Development2024-12-310001975736PRPM 2024-RCF4 LLC, ABS, Real Estate Management & Development2024-12-310001975736PRPM 2024-RCF5 LLC, ABS, Real Estate Management & Development2024-12-310001975736Rain City Mortgage Trust 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Health LLC 12025-09-300001975736AGS Health LLC 22025-09-300001975736A-Lign Assurance LLC 12025-09-300001975736A-Lign Assurance LLC 22025-09-300001975736Arcfield Acquisition Corp2025-09-300001975736Area Wide Protective Inc2025-09-300001975736Avetta LLC 12025-09-300001975736Avetta LLC 22025-09-300001975736Avetta LLC 32025-09-300001975736Bonterra LLC 12025-09-300001975736Bonterra LLC 22025-09-300001975736Cadence Education LLC 12025-09-300001975736Cadence Education LLC 22025-09-300001975736Cambrex Corp 12025-09-300001975736Cambrex Corp 22025-09-300001975736Cambrex Corp 32025-09-300001975736Carrier Fire Protection 12025-09-300001975736Carrier Fire Protection 22025-09-300001975736Carrier Fire Protection 32025-09-300001975736Circana Group2025-09-300001975736Clarience Technologies LLC 12025-09-300001975736Clarience Technologies LLC 22025-09-300001975736Clarience Technologies LLC 32025-09-300001975736CLEAResult Consulting Inc 12025-09-300001975736CLEAResult Consulting Inc 22025-09-300001975736ClubCorp Club Operations Inc 12025-09-300001975736ClubCorp Club Operations Inc 22025-09-300001975736Community Brands Inc 12025-09-300001975736Community Brands Inc 22025-09-300001975736CSafe Global2025-09-300001975736Dental365 LLC 12025-09-300001975736Dental365 LLC 22025-09-300001975736DuBois Chemicals Inc 12025-09-300001975736DuBois Chemicals Inc 22025-09-300001975736Eagle Railcar Services Roscoe Inc 12025-09-300001975736Eagle Railcar Services Roscoe Inc 22025-09-300001975736Flexera Software LLC2025-09-300001975736Follett Software Co 2025-09-300001975736Frontline Road Safety LLC 12025-09-300001975736Frontline Road Safety LLC 22025-09-300001975736Galway Partners Holdings LLC2025-09-300001975736Homrich & Berg Inc2025-09-300001975736Horizon CTS Buyer LLC 12025-09-300001975736Horizon CTS Buyer LLC 22025-09-300001975736Inhabit IQ 12025-09-300001975736Inhabit IQ 22025-09-300001975736Insightsoftware.Com Inc 12025-09-300001975736Insightsoftware.Com Inc 22025-09-300001975736Integrity Marketing Group LLC 12025-09-300001975736Integrity Marketing Group LLC 22025-09-300001975736J S Held LLC 12025-09-300001975736J S Held LLC 22025-09-300001975736Keystone Agency Partners LLC 12025-09-300001975736Keystone Agency Partners LLC 22025-09-300001975736Learning Experience Corp/The2025-09-300001975736Legends Hospitality LLC 12025-09-300001975736Legends Hospitality LLC 22025-09-300001975736MAI Capital Management LLC 12025-09-300001975736MAI Capital Management LLC 22025-09-300001975736MAI Capital Management LLC 32025-09-300001975736Med-Metrix 12025-09-300001975736Med-Metrix 22025-09-300001975736Mercer Advisors Inc2025-09-300001975736Model N Inc 12025-09-300001975736Model N Inc 22025-09-300001975736NeoGov Newt Holdco Inc 12025-09-300001975736NeoGov Newt Holdco Inc 22025-09-300001975736NeoGov Newt Holdco Inc 32025-09-300001975736Netsmart Technologies Inc 12025-09-300001975736Netsmart Technologies Inc 22025-09-300001975736OEConnection LLC 12025-09-300001975736OEConnection LLC 22025-09-300001975736PCI Pharma Services 12025-09-300001975736PCI Pharma Services 22025-09-300001975736PCI Pharma Services 32025-09-300001975736PSC Group 12025-09-300001975736PSC Group 22025-09-300001975736Railpros Inc 12025-09-300001975736Railpros Inc 22025-09-300001975736Resa Power LLC 12025-09-300001975736Resa Power LLC 22025-09-300001975736Revere Superior Holdings Inc 12025-09-300001975736Revere Superior Holdings Inc 22025-09-300001975736Rialto Capital Management LLC2025-09-300001975736Rockefeller Capital Management LP2025-09-300001975736Service Express Inc 12025-09-300001975736Service Express Inc 22025-09-300001975736Sphera Solutions Inc 12025-09-300001975736Sphera Solutions Inc 22025-09-300001975736Spins LLC 22025-09-300001975736Spotless Brands LLC2025-09-300001975736STV Group Inc 12025-09-300001975736STV Group Inc 22025-09-300001975736SureScripts LLC2025-09-300001975736Trackunit ApS2025-09-300001975736Turnpoint Services Inc 12025-09-300001975736Turnpoint Services Inc 22025-09-300001975736USIC Holdings Inc 12025-09-300001975736USIC Holdings Inc 22025-09-300001975736Veriforce LLC 12025-09-300001975736Veriforce LLC 22025-09-300001975736Veriforce LLC 32025-09-300001975736Vermont Information Processing Inc 12025-09-300001975736Vermont Information Processing Inc 22025-09-300001975736VetCor Professional Practices LLC2025-09-300001975736Vitu2025-09-300001975736Wealth Enhancement Group LLC 12025-09-300001975736Wealth Enhancement Group LLC 22025-09-300001975736Wedgewood Weddings 12025-09-300001975736Wedgewood Weddings 22025-09-300001975736West Star Aviation Inc 12025-09-300001975736West Star Aviation Inc 22025-09-300001975736Woolpert Inc 12025-09-300001975736Woolpert Inc 22025-09-300001975736Xylem Kendall 12025-09-300001975736Xylem Kendall 22025-09-300001975736EW Scripps Co/The, Revolver2025-09-300001975736Florida Food Products LLC, Revolver2025-09-300001975736Fortna Group Inc, Revolver2025-09-300001975736John Wood Group PLC, Revolver2025-09-300001975736Opendoor Labs Inc, Structured Mezzanine2025-09-300001975736Philippine Airlines 777, Term Loan 12025-09-300001975736Philippine Airlines 777, Term Loan 22025-09-300001975736Trinseo Materials Operating SCA / Trinseo Materials Finance Inc, Revolver2025-09-300001975736Tropicana Products Inc, Revolver2025-09-300001975736Vietjet Aviation JSC, Term Loan2025-09-300001975736kfits:DebtSecuritiesRevolvingCreditFacilityMember2025-09-300001975736kfits:DebtSecuritiesDelayedDrawTermLoanMember2025-09-300001975736us-gaap:DebtSecuritiesMember2025-09-300001975736us-gaap:SubsequentEventMember2025-10-082025-10-080001975736us-gaap:SubsequentEventMember2025-10-302025-10-300001975736us-gaap:PrivatePlacementMemberus-gaap:SubsequentEventMember2025-10-012025-10-010001975736us-gaap:PrivatePlacementMemberus-gaap:SubsequentEventMember2025-11-032025-11-03

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

______________________________________________

FORM 10-Q

_________________________________________________


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

FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2025


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

COMMISSION FILE NUMBER: 814-01706

_________________________________________________

KKR FS Income Trust Select

(Exact name of registrant as specified in its charter)

_________________________________________________


Delaware						92-3617067
(State of Organization)						(I.R.S. Employer Identification Number)

201 Rouse Boulevard Philadelphia, Pennsylvania						19112
(Address of principal executive offices)						(Zip Code)

Registrant’s telephone number, including area code: (215) 495-1150

_______________________________________

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

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

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


Large accelerated filer	¨	Accelerated filer	¨

Non-accelerated filer	x	Smaller reporting company	¨

		Emerging growth company	x

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

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

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

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

N/A

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

The number of shares of the registrant’s common shares of beneficial interest, par value $0.01 per share, outstanding as of October 31, 2025 was 33,751,750 of Class S shares.

TABLE OF CONTENTS



		Page
PART I—FINANCIAL INFORMATION
ITEM 1.	FINANCIAL STATEMENTS	1
	Consolidated Statements of Assets and Liabilities as of September 30, 2025 (Unaudited) and December 31, 2024	1
	Unaudited Consolidated Statements of Operations for the three and nine months ended September 30 , 2025 and 2024	2
	Unaudited Consolidated Statements of Changes in Net Assets for the three and nine months ended September 30 , 2025 and 2024	3
	Unaudited Consolidated Statements of Cash Flows for the nine months ended September 30 , 2025 and 2024	4
	Consolidated Schedules of Investments as of September 30 , 2025 (Unaudited) and December 31, 2024	5
	Notes to Unaudited Consolidated Financial Statements	24
ITEM 2.	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	47
ITEM 3.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	64
ITEM 4.	CONTROLS AND PROCEDURES	66

PART II—OTHER INFORMATION
ITEM 1.	LEGAL PROCEEDINGS	67
ITEM 1A.	RISK FACTORS	67
ITEM 2.	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	67
ITEM 3.	DEFAULTS UPON SENIOR SECURITIES	68
ITEM 4.	MINE SAFETY DISCLOSURES	68
ITEM 5.	OTHER INFORMATION	68
ITEM 6.	EXHIBITS	69
	SIGNATURES	70

Table of Contents

PART I—FINANCIAL INFORMATION

Item 1. Financial Statements.

KKR FS Income Trust Select

Consolidated Statements of Assets and Liabilities

(in thousands, except share and per share amounts)


	September 30, 2025 (Unaudited)		December 31, 2024
Assets
Investments, at fair value
Non-controlled/unaffiliated investments (amortized cost—$1,114,198 and $435,721, respectively)	$	1,127,357	$	437,346

Controlled/affiliated investments (amortized cost—$3,662 and $4,480, respectively)	3,683		4,533
Total investments, at fair value (amortized cost—$1,117,860 and $440,201, respectively)	1,131,040		441,879
Cash and cash equivalents	25,763		9,893
Foreign currency (cost—$390 and $388, respectively)	390		370
Receivable for investments sold and repaid	4,340		235
Income receivable	8,101		2,661
Expense support receivable	—		1,206
Unrealized appreciation on foreign currency forward contracts	63		141
Deferred financing costs	5,207		3,649
Prepaid expenses and other assets	843		184
Total assets	$	1,175,747	$	460,218

Liabilities
Payable for investments purchased	$	1,834	$	27,545
Debt(1)	344,600		70,347
Unrealized depreciation on foreign currency forward contracts	218		—
Shareholders’ distributions payable	6,343		3,939


Accrued capital gains incentive fee(2)	1,365		219
Administrative services expense payable	748		202
Distribution/servicing fees payable	526		213
Accrued accounting and administrative fees	119		30
Interest payable	3,951		105

Other accrued expenses and liabilities	1,114		336
Total liabilities	360,818		102,936
Commitments and contingencies(3)



Shareholders’ equity
Common Shares, $0.01 par value, unlimited shares authorized, 31,746,969 and 14,068,193 Class S shares issued and outstanding, respectively	317		141
Capital in excess of par value	806,559		355,586
Retained earnings (accumulated deficit)	8,053		1,555
Total shareholders’ equity	814,929		357,282
Total liabilities and shareholders’ equity	$	1,175,747	$	460,218
Net asset value per share of common shares at period end	$	25.67	$	25.40

_______________

(1)See Note 9 for a discussion of the Company’s financing arrangements.

(2)See Note 2 for a discussion of the methodology employed by the Company in calculating the capital gains incentive fees.

(3)See Note 10 for a discussion of the Company’s commitments and contingencies.

See notes to unaudited consolidated financial statements.

Table of Contents

KKR FS Income Trust Select

Unaudited Consolidated Statements of Operations

(in thousands, except share and per share amounts)


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Investment income
From non-controlled/unaffiliated investments:
Interest income	$	22,268	$	5,290	$	52,372	$	7,992
Paid-in-kind interest income	672		186		1,927		186
Fee income	1,253		711		3,773		848
Dividend income	98		—		304		—





From controlled/affiliated investments:
Interest income	91		—		293		—


Dividend income	174		—		256		—
Total investment income	24,556		6,187		58,925		9,026

Operating expenses
Management fees	2,289		649		5,376		960
Subordinated income incentive fees(1)	2,273		727		5,696		1,067
Capital gains incentive fees(1)	657		111		1,146		138
Interest expense(2)	4,551		96		10,538		96
Administrative services expense	697		267		1,378		447
Distribution/servicing fees	1,489		349		3,411		461
Share transfer agent fees	132		85		267		107
Accounting and administrative fees	108		22		259		34


Audit expense	173		100		446		198
Other general and administrative expenses	713		188		1,368		296
Total operating expenses	13,082		2,594		29,885		3,804
Management and incentive fee waivers	(4,562)		(1,376)		(11,072)		(2,027)
Expense waiver(3)	—		(662)		(895)		(1,009)
Net expenses	8,520		556		17,918		768
Net investment income	16,036		5,631		41,007		8,258

Realized and unrealized gain/loss
Net realized gain (loss) on investments:
Non-controlled/unaffiliated investments	24		—		(156)		—


Net realized gain (loss) on foreign currency forward contracts	(71)		8		(122)		8
Net realized gain (loss) on foreign currency	(298)		(48)		(337)		(45)
Net change in unrealized appreciation (depreciation) on investments:
Non-controlled/unaffiliated investments	4,919		990		11,534		1,209

Controlled/affiliated investments	(16)		—		(32)		—
Net change in unrealized appreciation (depreciation) on foreign currency forward contracts	154		(67)		(296)		(67)
Net change in unrealized gain (loss) on foreign currency	549		8		(1,420)		3
Total net realized and unrealized gain (loss)	5,261		891		9,171		1,108
Net increase (decrease) in net assets resulting from operations	$	21,297	$	6,522	$	50,178	$	9,366

Per share information—basic and diluted
Net increase (decrease) in net assets resulting from operations (Earnings (Losses) per Share)	$	0.72	$	0.71	$	2.14	$	2.07
Weighted average shares outstanding	29,579,466		8,824,096		23,426,502		4,367,721

_______________

(1)See Note 2 and 4 for a discussion of the methodology employed by the Company in calculating the subordinated income incentive fees and capital gains incentive fees.

(2)See Note 9 for a discussion of the Company’s financing arrangements.

(3)See Note 4 for a discussion of the Company’s expense support and conditional reimbursement.

See notes to unaudited consolidated financial statements.

Table of Contents

KKR FS Income Trust Select

Unaudited Consolidated Statements of Changes in Net Assets

(in thousands)


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Operations
Net investment income (loss)	$	16,036	$	5,631	$	41,007	$	8,258
Net realized gain (loss) on investments, foreign currency forward contracts and foreign currency	(345)		(40)		(615)		(37)
Net change in unrealized appreciation (depreciation) on investments and foreign currency forward contracts	5,057		923		11,206		1,142
Net change in unrealized gain (loss) on foreign currency	549		8		(1,420)		3
Net increase (decrease) in net assets resulting from operations	21,297		6,522		50,178		9,366

Shareholder distributions
Distributions to common shareholders	(17,775)		(6,150)		(43,680)		(7,857)
Distributions to preferred shareholders	—		(277)		—		(324)
Net decrease in net assets resulting from shareholder distributions	(17,775)		(6,427)		(43,680)		(8,181)

Capital transactions(1)
Issuance of capital	146,541		103,706		431,949		257,164
Reinvestment of shareholder distributions	8,797		2,100		21,328		2,100
Repurchases of common shares	(241)		—		(2,128)		—


Net increase (decrease) in net assets resulting from capital share transactions	155,097		105,806		451,149		259,264
Total increase (decrease) in net assets	158,619		105,901		457,647		260,449
Net assets at beginning of period	656,310		154,549		357,282		1
Net assets at end of period	$	814,929	$	260,450	$	814,929	$	260,450

_______________

(1)See Note 3 for a discussion of the Company’s capital share transactions.

See notes to unaudited consolidated financial statements.

Table of Contents

KKR FS Income Trust Select

Unaudited Consolidated Statements of Cash Flows

(in thousands)


	Nine Months Ended September 30,
	2025		2024
Cash flows from operating activities
Net increase (decrease) in net assets resulting from operations	$	50,178	$	9,366
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:
Purchases of investments	(770,686)		(284,290)
Paid-in-kind interest	(1,927)		(186)
Proceeds from sales and repayments of investments	95,097		8,297
Net realized (gain) loss on investments	156		—
Net change in unrealized (appreciation) depreciation on investments	(11,502)		(1,209)
Net change in unrealized (appreciation) depreciation on foreign currency forward contracts	296		67
Accretion of discount	(557)		(86)
Amortization of deferred financing costs	600		48
Unrealized (gain)/loss on borrowings in foreign currency	1,439		—
(Increase) decrease in receivable for investments sold and repaid	(4,105)		(23)
(Increase) decrease in income receivable	(5,182)		(2,316)
(Increase) decrease in expense support receivable	1,206		(662)
(Increase) decrease in prepaid expenses and other assets	(659)		(86)
Increase (decrease) in payable for investments purchased	(25,711)		46,025


Increase (decrease) in accrued capital gains incentive fee	1,146		138
Increase (decrease) in administrative services expense payable	546		258
Increase (decrease) in distribution/servicing fees payable	313		138
Increase (decrease) in accrued accounting and administrative fees	89		17
Increase (decrease) in interest payable	3,846		48

Increase (decrease) in other accrued expenses and liabilities	778		161
Net cash provided by (used in) operating activities	(664,639)		(224,295)
Cash flows from financing activities
Issuance of common shares	431,949		257,164

Repurchases of common shares	(2,128)		—

Distributions to common shareholders	(19,948)		(2,882)
Distributions to preferred shareholders	—		(324)
Borrowings under financing arrangements	538,087		—
Repayments under financing arrangements	(265,273)		—
Deferred financing costs paid	(2,158)		(969)
Net cash provided by (used in) financing activities	680,529		252,989
Total increase (decrease) in cash	15,890		28,694
Cash and foreign currency at beginning of period	10,263		1
Cash and foreign currency at end of period	$	26,153	$	28,695
Supplemental disclosure
Reinvestment of shareholder distributions	$	21,328	$	2,100
Federal and income taxes paid during the period	$	14	—
Interest paid during the period	$	6,092	—

See notes to unaudited consolidated financial statements.

Table of Contents

KKR FS Income Trust Select

Unaudited Consolidated Schedule of Investments

As of September 30, 2025

(in thousands, expect share amounts)


Portfolio Company(a)	Footnotes	Industry	Rate(b)					Floor(b)	Maturity	Principal Amount(c)/Shares		Amortized Cost		Fair Value(d)
Senior Secured Loans—First Lien—108.2%
Advanced Dermatology & Cosmetic Surgery	(f)	Health Care Equipment & Services	SF	+	6.3%			1.0%	05/27	$	4,092	$	4,092	$	4,092
Affordable Care Inc	(f)(g)	Health Care Equipment & Services	SF	+	6.0%	(3.3% PIK	/ 3.3% PIK)	0.8%	08/28	8,497		8,509		8,138
AGS Health LLC	(f)	Software & Services	SF	+	4.5%			0.5%	08/32	2,924		2,917		2,924
AGS Health LLC	(h)	Software & Services	SF	+	4.5%			0.5%	08/32	1,007		1,007		1,007
AGS Health LLC	(h)	Software & Services	SF	+	4.5%			0.5%	08/32	357		357		357
A-Lign Assurance LLC	(f)	Software & Services	SF	+	4.8%	(0.0% PIK	/ 3.0% PIK)	0.8%	08/32	6,712		6,645		6,645
A-Lign Assurance LLC	(h)	Software & Services	SF	+	4.8%	(0.0% PIK	/ 3.0% PIK)	0.8%	08/32	1,974		1,964		1,954
A-Lign Assurance LLC	(h)	Software & Services	SF	+	4.8%			0.8%	08/32	948		938		938
Amerivet Partners Management Inc	(f)(g)	Health Care Equipment & Services	SF	+	5.5%			0.8%	02/28	6,549		6,549		6,454
Arcfield Acquisition Corp	(g)	Capital Goods	SF	+	5.0%			0.5%	10/31	10,362		10,362		10,382
Arcfield Acquisition Corp	(h)	Capital Goods	SF	+	5.0%			0.5%	10/31	1,175		1,175		1,175
Area Wide Protective Inc	(f)	Commercial & Professional Services	SF	+	4.5%			1.0%	12/30	4,531		4,501		4,531
Area Wide Protective Inc	(h)	Commercial & Professional Services	SF	+	4.5%			1.0%	12/30	2,366		2,366		2,366
Avetta LLC	(f)(g)	Software & Services	SF	+	4.3%	(0.0% PIK	/ 2.6% PIK)	0.5%	07/31	4,215		4,179		4,257
Avetta LLC	(h)	Software & Services	SF	+	4.3%			0.5%	07/30	501		501		501
Avetta LLC	(h)	Software & Services	SF	+	4.5%			0.5%	07/30	236		236		236
Avetta LLC	(h)	Software & Services	SF	+	4.3%	(0.0% PIK	/ 2.6% PIK)	0.5%	07/31	1,032		1,032		1,042
BCA Marketplace Ltd	(f)(j)	Commercial & Professional Services	SA	+	6.3%	(0.0% PIK	/ 2.5% PIK)	0.0%	03/31	£	5,066	6,450		6,702
BCA Marketplace Ltd	(f)(j)	Commercial & Professional Services	E	+	6.3%	(0.0% PIK	/ 2.5% PIK)	0.0%	04/31	€	2,094	2,234		2,418
Bonterra LLC	(f)(g)	Software & Services	SF	+	5.0%			0.8%	03/32	$	30,705	30,485		30,705
Bonterra LLC	(f)	Software & Services	SF	+	5.0%			0.8%	03/32	499		484		499
Bonterra LLC	(h)	Software & Services	SF	+	5.0%			0.8%	03/32	3,328		3,312		3,328
Bonterra LLC	(h)	Software & Services	SF	+	5.0%			0.8%	03/32	2,829		2,829		2,829
Cadence Education LLC	(f)(g)	Consumer Services	SF	+	5.0%			0.8%	05/31	2,278		2,269		2,301
Cadence Education LLC	(f)	Consumer Services	SF	+	5.0%			0.8%	05/31	333		333		337
Cadence Education LLC	(h)	Consumer Services	SF	+	5.0%			0.8%	05/30	353		353		353
Cadence Education LLC	(h)	Consumer Services	SF	+	5.0%			0.8%	05/31	264		264		267
Cambrex Corp	(f)	Pharmaceuticals, Biotechnology & Life Sciences	SF	+	4.5%	(0.0% PIK	/ 2.8% PIK)	0.8%	03/32	12,366		12,309		12,613
Cambrex Corp	(h)	Pharmaceuticals, Biotechnology & Life Sciences	SF	+	4.5%			0.8%	03/32	1,615		1,615		1,615
Cambrex Corp	(h)	Pharmaceuticals, Biotechnology & Life Sciences	SF	+	4.8%			0.8%	03/32	1,846		1,846		1,883
Cambrex Corp	(h)	Pharmaceuticals, Biotechnology & Life Sciences	SF	+	4.8%	(0.0% PIK	/ 2.4% PIK)	0.8%	03/32	5,935		5,935		5,876
Carrier Fire Protection	(f)	Commercial & Professional Services	SF	+	4.5%			0.5%	07/30	91		91		91
Carrier Fire Protection	(f)(g)	Commercial & Professional Services	SF	+	4.5%	(0.0% PIK	/ 2.0% PIK)	0.5%	07/31	1,935		1,922		1,954

See notes to unaudited consolidated financial statements.

Table of Contents

KKR FS Income Trust Select

Unaudited Consolidated Schedule of Investments (continued)

As of September 30, 2025

(in thousands, except share amounts)


Portfolio Company(a)	Footnotes	Industry	Rate(b)					Floor(b)	Maturity	Principal Amount(c)/Shares		Amortized Cost		Fair Value(d)
Carrier Fire Protection	(f)	Commercial & Professional Services	SF	+	4.5%	(0.0% PIK	/ 3.0% PIK)	0.5%	07/31	$	103	$	99	$	104
Carrier Fire Protection	(f)	Commercial & Professional Services	E	+	4.5%	(0.0% PIK	/ 2.0% PIK)	0.5%	07/31	€	480	515		569
Carrier Fire Protection	(f)	Commercial & Professional Services	E	+	4.5%			0.5%	07/30	16		16		18
Carrier Fire Protection	(h)	Commercial & Professional Services	SF	+	4.5%			0.5%	07/30	$	357	357		357
Carrier Fire Protection	(h)	Commercial & Professional Services	SF	+	4.5%	(0.0% PIK	/ 3.0% PIK)	0.5%	07/31	414		414		418
Carrier Fire Protection	(h)	Commercial & Professional Services	E	+	4.5%			0.5%	07/30	€	49	53		53
Circana Group (f.k.a. NPD Group)	(f)	Consumer Services	SF	+	4.5%			0.8%	12/29	$	10,793	10,793		10,901
Circana Group (f.k.a. NPD Group)	(h)	Consumer Services	SF	+	4.5%			0.8%	12/28	790		790		790
Clarience Technologies LLC	(f)(g)	Capital Goods	SF	+	5.8%	(0.0% PIK	/ 3.1% PIK)	0.8%	02/32	18,694		18,694		18,881
Clarience Technologies LLC	(h)	Capital Goods	SF	+	4.8%			0.8%	02/31	1,738		1,738		1,738
Clarience Technologies LLC	(h)	Capital Goods	SF	+	5.8%	(0.0% PIK	/ 3.1% PIK)	0.8%	02/32	3,852		3,852		3,890
Clarience Technologies LLC	(h)	Capital Goods	SF	+	5.8%			0.8%	02/32	626		626		632
CLEAResult Consulting Inc	(f)(g)	Commercial & Professional Services	SF	+	4.8%	(0.0% PIK	/ 2.5% PIK)	0.8%	08/31	10,596		10,502		10,702
CLEAResult Consulting Inc	(h)	Commercial & Professional Services	SF	+	5.0%	(0.0% PIK	/ 2.5% PIK)	0.8%	08/31	2,669		2,656		2,696
CLEAResult Consulting Inc	(h)	Commercial & Professional Services	SF	+	4.8%			0.8%	08/31	1,779		1,764		1,779
ClubCorp Club Operations Inc	(f)	Consumer Services	SF	+	5.0%			1.0%	07/32	11,669		11,585		11,611
ClubCorp Club Operations Inc	(h)	Consumer Services	SF	+	5.0%			1.0%	07/31	1,268		1,268		1,262
ClubCorp Club Operations Inc	(h)	Consumer Services	SF	+	5.0%			1.0%	07/32	761		761		757
Community Brands Inc	(f)(g)	Software & Services	SF	+	5.3%			0.8%	07/31	8,866		8,826		8,955
Community Brands Inc	(h)	Software & Services	SF	+	5.3%			0.8%	07/31	815		814		815
Community Brands Inc	(h)	Software & Services	SF	+	5.3%			0.8%	07/31	1,430		1,430		1,445
CPM Holdings Inc	(e)(f)	Capital Goods	SF	+	4.5%			0.5%	09/28	14,914		14,680		14,898
CSafe Global	(f)(g)	Transportation	SF	+	5.8%			0.8%	12/28	8,982		8,983		9,072
CSafe Global	(f)	Transportation	SA	+	5.8%			0.8%	12/28	£	957	1,210		1,300
CSafe Global	(f)	Transportation	SF	+	5.8%			0.8%	03/29	$	576	576		576
CSafe Global	(h)	Transportation	SF	+	5.8%			0.8%	03/29	144		144		144
Dental365 LLC	(f)(g)	Health Care Equipment & Services	SF	+	5.0%			0.8%	08/28	9,305		9,315		9,305
Dental365 LLC	(f)	Health Care Equipment & Services	SF	+	5.0%			0.8%	08/28	5,293		5,277		5,293
Dental365 LLC	(h)	Health Care Equipment & Services	SF	+	5.0%			0.8%	05/28	1,963		1,961		1,963
Dental365 LLC	(h)	Health Care Equipment & Services	SF	+	5.0%			0.8%	08/28	3,093		3,093		3,093
DuBois Chemicals Inc	(f)(g)	Materials	SF	+	5.0%			0.8%	06/31	12,460		12,405		12,585
DuBois Chemicals Inc	(h)	Materials	SF	+	5.0%			0.8%	06/31	1,894		1,888		1,894
DuBois Chemicals Inc	(h)	Materials	SF	+	5.0%			0.8%	06/31	757		757		765
Eagle Railcar Services Roscoe Inc	(g)	Transportation	SF	+	4.5%			0.5%	06/32	10,602		10,576		10,602
Eagle Railcar Services Roscoe Inc	(h)	Transportation	SF	+	4.5%			0.5%	06/32	2,209		2,209		2,209
Eagle Railcar Services Roscoe Inc	(h)	Transportation	SF	+	4.5%			0.5%	06/32	1,988		1,988		1,988
Excelitas Technologies Corp	(f)	Technology Hardware & Equipment	SF	+	5.3%			0.8%	08/29	1,318		1,330		1,318

See notes to unaudited consolidated financial statements.

Table of Contents

KKR FS Income Trust Select

Unaudited Consolidated Schedule of Investments (continued)

As of September 30, 2025

(in thousands, except share amounts)


Portfolio Company(a)	Footnotes	Industry	Rate(b)					Floor(b)	Maturity	Principal Amount(c)/Shares		Amortized Cost		Fair Value(d)
Flexera Software LLC	(g)	Software & Services	SF	+	4.8%	(0.0% PIK	/ 2.5% PIK)	0.5%	08/32	$	18,922	$	18,899	$	18,903
Flexera Software LLC	(f)	Software & Services	E	+	4.8%	(0.0% PIK	/ 2.5% PIK)	0.5%	08/32	€	5,711	6,676		6,695
Flexera Software LLC	(h)	Software & Services	SF	+	4.8%			0.5%	08/32	$	1,530	1,530		1,529
Follett Software Co	(g)	Software & Services	SF	+	4.5%			0.5%	08/31	10,900		10,900		10,991
Follett Software Co	(h)	Software & Services	SF	+	4.5%			0.5%	08/30	1,018		1,018		1,018
Frontline Road Safety LLC	(f)(g)	Capital Goods	SF	+	4.8%	(2.0% PIK	/ 2.0% PIK)	0.0%	03/32	17,847		17,753		17,942
Frontline Road Safety LLC	(f)	Capital Goods	SF	+	4.8%			0.0%	03/32	528		525		528
Frontline Road Safety LLC	(f)	Capital Goods	SF	+	5.0%	(2.3% PIK	/ 2.3% PIK)	0.0%	03/32	9,085		9,059		9,134
Frontline Road Safety LLC	(h)	Capital Goods	SF	+	4.8%			0.0%	03/32	2,487		2,487		2,487
Frontline Road Safety LLC	(h)	Capital Goods	SF	+	5.0%	(2.3% PIK	/ 2.3% PIK)	0.0%	03/32	350		350		352
Galway Partners Holdings LLC	(f)	Insurance	SF	+	4.5%			0.8%	09/28	194		196		194
Galway Partners Holdings LLC	(g)	Insurance	SF	+	4.5%	(0.0% PIK	/ 1.0% PIK)	0.8%	09/28	8,019		8,034		8,019
Galway Partners Holdings LLC	(h)	Insurance	SF	+	4.5%			0.8%	09/28	724		724		724
Gigamon Inc	(f)(g)	Software & Services	SF	+	5.8%			0.8%	03/29	4,091		4,091		3,825
Hexion International Cooperatief UA	(e)(f)(i)	Materials	SF	+	4.0%			0.5%	03/29	2,200		2,142		2,200
Homrich & Berg Inc	(f)	Financial Services	SF	+	4.8%			0.8%	08/31	785		785		785
Homrich & Berg Inc	(f)	Financial Services	SF	+	4.8%			0.8%	11/31	13,017		13,003		13,065
Homrich & Berg Inc	(h)	Financial Services	SF	+	4.8%			0.8%	08/31	642		642		642
Horizon CTS Buyer LLC	(g)	Capital Goods	SF	+	4.5%	(0.0% PIK	/ 2.3% PIK)	0.8%	03/32	13,388		13,326		13,463
Horizon CTS Buyer LLC	(f)	Capital Goods	SF	+	4.5%			0.8%	03/32	1,013		1,013		1,013
Horizon CTS Buyer LLC	(h)	Capital Goods	SF	+	4.5%	(0.0% PIK	/ 2.3% PIK)	0.8%	03/32	2,532		2,532		2,546
Horizon CTS Buyer LLC	(h)	Capital Goods	SF	+	4.5%			0.8%	03/32	2,153		2,153		2,153
Inhabit IQ	(f)	Software & Services	SF	+	4.5%	(0.0% PIK	/ 2.3% PIK)	0.8%	01/32	4,709		4,698		4,768
Inhabit IQ	(h)	Software & Services	SF	+	4.5%	(0.0% PIK	/ 2.3% PIK)	0.8%	01/32	1,311		1,311		1,328
Inhabit IQ	(h)	Software & Services	SF	+	4.5%			0.8%	01/32	820		820		820
Insightsoftware.Com Inc	(f)	Software & Services	SF	+	5.3%			0.8%	05/28	122		122		122
Insightsoftware.Com Inc	(f)	Software & Services	SF	+	5.3%			1.0%	05/28	74		74		74
Insightsoftware.Com Inc	(f)	Software & Services	SF	+	5.3%			1.0%	05/28	2,452		2,452		2,452
Insightsoftware.Com Inc	(h)	Software & Services	SF	+	5.3%			0.8%	05/28	2,584		2,584		2,584
Insightsoftware.Com Inc	(h)	Software & Services	SF	+	5.3%			1.0%	05/28	148		148		148
Integrated Power Services LLC	(f)(g)	Commercial & Professional Services	SF	+	4.5%			0.8%	11/28	16,806		16,730		16,806
Integrity Marketing Group LLC	(f)(g)	Insurance	SF	+	5.0%			0.8%	08/28	21,747		21,807		21,747
Integrity Marketing Group LLC	(h)	Insurance	SF	+	5.0%			0.8%	08/28	5		5		5
Integrity Marketing Group LLC	(h)	Insurance	SF	+	5.0%			0.8%	08/28	4		4		4
IntraFi Network LLC	(e)(f)	Financial Services	SF	+	4.0%			0.0%	07/31	5,910		5,852		5,918
J S Held LLC	(g)	Insurance	SF	+	5.5%			1.0%	06/28	23,375		23,382		23,375
J S Held LLC	(f)	Insurance	SF	+	5.5%			1.0%	06/28	1,653		1,648		1,669

See notes to unaudited consolidated financial statements.

Table of Contents

KKR FS Income Trust Select

Unaudited Consolidated Schedule of Investments (continued)

As of September 30, 2025

(in thousands, except share amounts)


Portfolio Company(a)	Footnotes	Industry	Rate(b)					Floor(b)	Maturity	Principal Amount(c)/Shares		Amortized Cost		Fair Value(d)
J S Held LLC	(h)	Insurance	SF	+	5.5%			1.0%	06/28	$	1,357	$	1,357	$	1,357
J S Held LLC	(h)	Insurance	SF	+	5.5%			1.0%	06/28	2,268		2,268		2,290
Keystone Agency Partners LLC	(g)	Insurance	SF	+	4.5%	(0.0% PIK	/ 2.3% PIK)	0.8%	08/32	21,119		21,014		21,013
Keystone Agency Partners LLC	(h)	Insurance	SF	+	4.5%	(0.0% PIK	/ 2.3% PIK)	0.8%	08/32	4,072		4,072		4,051
Keystone Agency Partners LLC	(h)	Insurance	SF	+	4.5%			0.8%	08/32	1,810		1,810		1,801
Learning Experience Corp/The	(g)	Consumer Services	SF	+	4.8%	(0.0% PIK	/ 2.9% PIK)	0.8%	07/32	3,112		3,097		3,112
Learning Experience Corp/The	(h)	Consumer Services	SF	+	4.8%			0.8%	07/32	685		685		685
Legends Hospitality LLC	(f)	Consumer Services	SF	+	5.0%	(0.0% PIK	/ 2.5% PIK)	0.8%	08/30	178		159		178
Legends Hospitality LLC	(f)(g)	Consumer Services	SF	+	5.5%	(2.8% PIK	/ 2.8% PIK)	0.8%	08/31	15,995		15,612		15,995
Legends Hospitality LLC	(h)	Consumer Services	SF	+	5.0%	(0.0% PIK	/ 2.5% PIK)	0.8%	08/30	1,602		1,602		1,602
Legends Hospitality LLC	(h)	Consumer Services	SF	+	5.5%	(2.8% PIK	/ 2.8% PIK)	0.8%	08/31	338		338		338
MAI Capital Management LLC	(f)	Financial Services	SF	+	4.8%	(0.0% PIK	/ 2.4% PIK)	0.8%	08/31	7,892		7,853		7,934
MAI Capital Management LLC	(f)	Financial Services	SF	+	4.8%			0.8%	08/31	295		292		295
MAI Capital Management LLC	(h)	Financial Services	SF	+	4.8%	(0.0% PIK	/ 2.4% PIK)	0.8%	08/31	1,687		1,687		1,696
MAI Capital Management LLC	(h)	Financial Services	SF	+	4.8%			0.8%	08/31	1,346		1,346		1,346
MAI Capital Management LLC	(h)	Financial Services	SF	+	4.8%	(0.0% PIK	/ 2.9% PIK)	0.8%	08/31	3,706		3,706		3,726
Med-Metrix	(g)	Software & Services	SF	+	4.8%	(0.0% PIK	/ 2.9% PIK)	0.8%	07/32	14,902		14,829		14,827
Med-Metrix	(h)	Software & Services	SF	+	4.8%	(0.0% PIK	/ 2.9% PIK)	0.8%	07/32	6,198		6,198		6,167
Med-Metrix	(h)	Software & Services	SF	+	4.8%			0.8%	07/32	2,637		2,637		2,624
Mercer Advisors Inc	(f)	Financial Services	SF	+	4.8%			0.8%	10/30	6,058		6,058		6,058
Mercer Advisors Inc	(h)	Financial Services	SF	+	4.8%			0.8%	10/30	1,052		1,052		1,052
Milano Acquisition Corp	(e)(f)	Health Care Equipment & Services	SF	+	4.0%			0.8%	10/27	15,505		15,000		15,288
Misys Ltd	(e)(f)(j)	Software & Services	SF	+	4.0%			0.0%	09/32	15,463		15,309		15,416
Model N Inc	(f)(g)	Software & Services	SF	+	4.8%	(0.0% PIK	/ 3.0% PIK)	0.8%	06/31	11,447		11,405		11,539
Model N Inc	(h)	Software & Services	SF	+	4.8%	(0.0% PIK	/ 3.0% PIK)	0.8%	06/31	2,360		2,354		2,379
Model N Inc	(h)	Software & Services	SF	+	4.8%			0.8%	06/31	1,258		1,256		1,258
NeoGov Newt Holdco Inc	(g)	Software & Services	SF	+	4.5%	(0.0% PIK	/ 2.8% PIK)	0.5%	09/32	6,237		6,214		6,214
NeoGov Newt Holdco Inc	(h)	Software & Services	SA	+	4.5%			0.5%	09/32	340		340		340
NeoGov Newt Holdco Inc	(h)	Software & Services	SF	+	4.5%			0.5%	09/32	756		756		756
NeoGov Newt Holdco Inc	(h)	Software & Services	SF	+	4.5%	(0.0% PIK	/ 2.8% PIK)	0.5%	09/32	1,512		1,512		1,506
Netsmart Technologies Inc	(f)(g)	Health Care Equipment & Services	SF	+	5.0%	(2.5% PIK	/ 2.5% PIK)	0.8%	08/31	22,389		22,249		22,613
Netsmart Technologies Inc	(h)	Health Care Equipment & Services	SF	+	5.0%	(2.5% PIK	/ 2.5% PIK)	0.8%	08/31	2,908		2,908		2,938
Netsmart Technologies Inc	(h)	Health Care Equipment & Services	SF	+	4.8%			0.8%	08/31	2,967		2,959		2,967
OEConnection LLC	(f)(g)	Software & Services	SF	+	5.3%	(0.0% PIK	/ 3.0% PIK)	0.8%	04/31	4,280		4,263		4,323
OEConnection LLC	(h)	Software & Services	SF	+	5.3%			0.8%	04/31	400		400		400
OEConnection LLC	(h)	Software & Services	SF	+	5.3%	(0.0% PIK	/ 1.3% PIK)	0.8%	04/31	1,607		1,607		1,623
PCI Pharma Services	(g)(j)	Health Care Equipment & Services	SF	+	4.8%			0.8%	01/32	6,724		6,709		6,778

See notes to unaudited consolidated financial statements.

Table of Contents

KKR FS Income Trust Select

Unaudited Consolidated Schedule of Investments (continued)

As of September 30, 2025

(in thousands, except share amounts)


Portfolio Company(a)	Footnotes	Industry	Rate(b)					Floor(b)	Maturity	Principal Amount(c)/Shares		Amortized Cost		Fair Value(d)
PCI Pharma Services	(h)(j)	Health Care Equipment & Services	SF	+	4.8%			0.8%	01/32	$	3,457	$	3,457	$	3,484
PCI Pharma Services	(h)(j)	Health Care Equipment & Services	SF	+	4.8%			0.8%	01/32	679		679		679
PCI Pharma Services	(h)(j)	Health Care Equipment & Services	SF	+	4.8%			0.8%	07/32	123		123		124
Precisely Software Inc	(e)(f)	Software & Services	SF	+	4.0%			0.8%	04/28	15,499		15,030		15,018
PSC Group	(f)	Transportation	SF	+	5.3%			0.8%	04/30	35		35		35
PSC Group	(f)(g)	Transportation	SF	+	5.0%			0.8%	04/31	721		717		729
PSC Group	(h)	Transportation	SF	+	5.3%			0.8%	04/30	67		67		67
PSC Group	(h)	Transportation	SF	+	5.0%			0.8%	04/31	73		73		74
PSKW LLC (dba ConnectiveRx)	(f)(g)	Health Care Equipment & Services	SF	+	5.5%			1.0%	03/28	23,953		23,958		23,953
Radwell International LLC	(f)	Capital Goods	SF	+	5.5%			0.8%	04/29	5,035		5,035		5,086
Railpros Inc	(f)	Commercial & Professional Services	SF	+	4.5%			0.8%	05/32	700		700		700
Railpros Inc	(h)	Commercial & Professional Services	SF	+	4.5%			0.8%	05/32	215		215		215
Railpros Inc	(h)	Commercial & Professional Services	SF	+	4.5%			0.8%	05/32	108		108		108
Resa Power LLC	(f)(g)	Commercial & Professional Services	SF	+	4.8%	(0.0% PIK	/ 2.5% PIK)	0.8%	04/32	12,142		12,100		12,209
Resa Power LLC	(h)	Commercial & Professional Services	SF	+	4.8%	(0.0% PIK	/ 2.5% PIK)	0.8%	04/32	3,404		3,392		3,423
Resa Power LLC	(h)	Commercial & Professional Services	SF	+	4.8%			0.8%	04/32	1,688		1,688		1,688
Revere Superior Holdings Inc	(f)	Software & Services	SF	+	5.0%			1.0%	10/29	298		298		298
Revere Superior Holdings Inc	(f)	Software & Services	SF	+	5.0%			1.0%	10/29	54		54		54
Revere Superior Holdings Inc	(f)	Software & Services	SF	+	5.0%			1.0%	10/29	3,692		3,692		3,692
Revere Superior Holdings Inc	(h)	Software & Services	SF	+	5.0%			1.0%	10/29	353		353		353
Revere Superior Holdings Inc	(h)	Software & Services	SF	+	5.0%			1.0%	10/29	203		203		203
Rialto Capital Management LLC	(g)	Financial Services	SF	+	5.0%			0.8%	12/30	6,213		6,157		6,275
Rialto Capital Management LLC	(h)	Financial Services	SF	+	5.0%			0.8%	12/30	232		232		232
Rockefeller Capital Management LP	(f)	Financial Services	SF	+	4.8%			0.5%	04/31	3,308		3,290		3,308
Rockefeller Capital Management LP	(h)	Financial Services	SF	+	4.8%			0.5%	04/31	1,390		1,390		1,390
RxBenefits Inc	(e)(f)(i)	Health Care Equipment & Services	SF	+	4.5%			0.8%	12/27	982		970		988
Service Express Inc	(f)(g)	Commercial & Professional Services	SF	+	4.8%	(0.0% PIK	/ 2.4% PIK)	0.5%	08/31	12,670		12,617		12,797
Service Express Inc	(h)	Commercial & Professional Services	SF	+	4.8%	(0.0% PIK	/ 2.4% PIK)	0.5%	08/31	2,263		2,263		2,285
Service Express Inc	(h)	Commercial & Professional Services	SF	+	4.8%			0.5%	08/31	1,651		1,646		1,651
Solera LLC	(e)(f)	Software & Services	SF	+	4.0%			0.5%	06/28	5,207		4,987		5,030
Sphera Solutions Inc	(f)	Software & Services	SF	+	4.5%			0.5%	09/32	514		514		514
Sphera Solutions Inc	(f)	Software & Services	SF	+	4.5%			0.5%	09/32	19,839		19,789		19,789
Sphera Solutions Inc	(h)	Software & Services	SF	+	4.5%			0.5%	09/32	2,186		2,186		2,186
Sphera Solutions Inc	(h)	Software & Services	SF	+	4.5%			0.5%	09/32	4,049		4,049		4,039
Spins LLC	(f)	Software & Services	SF	+	4.8%			1.0%	01/29	7,971		7,971		8,047
Spins LLC	(h)	Software & Services	SF	+	4.8%			1.0%	01/29	772		772		772
Spotless Brands LLC	(f)(g)	Consumer Services	SF	+	5.8%			1.0%	07/28	23,880		23,880		24,117

See notes to unaudited consolidated financial statements.

Table of Contents

KKR FS Income Trust Select

Unaudited Consolidated Schedule of Investments (continued)

As of September 30, 2025

(in thousands, except share amounts)


Portfolio Company(a)	Footnotes	Industry	Rate(b)					Floor(b)	Maturity	Principal Amount(c)/Shares		Amortized Cost		Fair Value(d)
Spotless Brands LLC	(f)	Consumer Services	SF	+	5.8%			1.0%	07/28	$	328	$	328	$	328
Spotless Brands LLC	(f)	Consumer Services	SF	+	5.8%			1.0%	07/28	4,468		4,468		4,512
Spotless Brands LLC	(h)	Consumer Services	SF	+	5.8%			1.0%	07/28	492		492		492
STV Group Inc	(g)	Capital Goods	SF	+	4.8%			0.8%	03/31	1,702		1,685		1,719
STV Group Inc	(h)	Capital Goods	SF	+	4.8%			0.8%	03/30	346		344		346
STV Group Inc	(h)	Capital Goods	SF	+	4.8%			0.8%	03/31	494		492		499
SureScripts LLC	(f)	Health Care Equipment & Services	SF	+	4.0%			0.8%	11/31	17,102		16,958		17,271
SureScripts LLC	(h)	Health Care Equipment & Services	SF	+	4.0%			0.8%	11/31	3,438		3,440		3,438
Trackunit ApS	(f)(j)	Software & Services	SF	+	5.0%	(0.0% PIK	/ 2.8% PIK)		05/32	6,843		6,744		6,790
Trackunit ApS	(h)(j)	Software & Services	SF	+	5.0%	(0.0% PIK	/ 2.8% PIK)		05/32	4,562		4,529		4,527
Turnpoint Services Inc	(f)	Capital Goods	SF	+	5.0%	(0.0% PIK	/ 3.0% PIK)	0.8%	06/30	123		122		122
Turnpoint Services Inc	(f)(g)	Capital Goods	SF	+	5.0%	(0.0% PIK	/ 3.0% PIK)	0.8%	06/31	5,004		4,963		4,985
Turnpoint Services Inc	(h)	Capital Goods	SF	+	5.0%	(0.0% PIK	/ 3.0% PIK)	0.8%	06/30	491		491		489
Turnpoint Services Inc	(h)	Capital Goods	SF	+	5.0%	(0.0% PIK	/ 3.0% PIK)	0.8%	06/31	981		981		977
USIC Holdings Inc	(f)(g)	Commercial & Professional Services	SF	+	5.5%			0.8%	09/31	24,299		24,196		24,785
USIC Holdings Inc	(f)	Commercial & Professional Services	SF	+	5.3%			0.8%	09/31	1,058		1,050		1,058
USIC Holdings Inc	(h)	Commercial & Professional Services	SF	+	5.5%			0.8%	09/31	764		764		779
USIC Holdings Inc	(h)	Commercial & Professional Services	SF	+	5.3%			0.8%	09/31	1,977		1,977		1,977
Veriforce LLC	(f)(j)	Software & Services	SF	+	4.8%			0.8%	11/31	4,597		4,576		4,597
Veriforce LLC	(f)(j)	Software & Services	SA	+	4.8%			0.8%	11/31	£	1,683	2,109		2,263
Veriforce LLC	(h)(j)	Software & Services	SF	+	5.0%			0.8%	11/31	$	468	468		468
Veriforce LLC	(h)(j)	Software & Services	SF	+	5.0%			0.8%	11/31	585		585		585
Veriforce LLC	(h)(j)	Software & Services	SF	+	4.5%	(0.0% PIK	/ 2.5% PIK)	0.8%	11/31	12,450		12,419		12,450
Vermont Information Processing Inc	(f)	Software & Services	SF	+	4.8%	(0.0% PIK	/ 2.4% PIK)	0.5%	01/32	6,615		6,585		6,615
Vermont Information Processing Inc	(f)	Software & Services	SF	+	4.8%			0.5%	01/32	276		276		276
Vermont Information Processing Inc	(h)	Software & Services	SF	+	4.8%	(0.0% PIK	/ 2.4% PIK)	0.5%	01/32	2,763		2,763		2,763
Vermont Information Processing Inc	(h)	Software & Services	SF	+	4.8%			0.5%	01/32	553		553		553
VetCor Professional Practices LLC	(f)(g)	Health Care Equipment & Services	SF	+	5.8%			0.8%	08/29	17,815		17,812		17,815
VetCor Professional Practices LLC	(f)(g)	Health Care Equipment & Services	SF	+	6.0%			0.8%	08/29	443		443		443
VetCor Professional Practices LLC	(h)	Health Care Equipment & Services	SF	+	5.8%			0.8%	08/29	113		113		113
Vitu	(f)(g)	Software & Services	SF	+	4.5%			0.8%	01/32	16,040		15,986		16,360
Vitu	(h)	Software & Services	SF	+	4.5%			0.8%	01/31	2,613		2,613		2,613
Wealth Enhancement Group LLC	(f)(g)	Financial Services	SF	+	4.5%			1.0%	10/28	4,630		4,630		4,642
Wealth Enhancement Group LLC	(f)	Financial Services	SF	+	4.5%			1.0%	10/28	2,067		2,067		2,072
Wealth Enhancement Group LLC	(h)	Financial Services	SF	+	4.5%			1.0%	10/28	999		999		1,002
Wealth Enhancement Group LLC	(h)	Financial Services	SF	+	4.5%			1.0%	10/28	298		298		298
Wedgewood Weddings	(g)	Consumer Services	SF	+	4.8%			0.8%	06/32	14,468		14,399		14,457

See notes to unaudited consolidated financial statements.

Table of Contents

KKR FS Income Trust Select

Unaudited Consolidated Schedule of Investments (continued)

As of September 30, 2025

(in thousands, except share amounts)


Portfolio Company(a)	Footnotes	Industry	Rate(b)					Floor(b)	Maturity	Principal Amount(c)/Shares		Amortized Cost		Fair Value(d)
Wedgewood Weddings	(h)	Consumer Services	SF	+	4.8%			0.8%	06/32	$	2,894	$	2,879	$	2,891
Wedgewood Weddings	(h)	Consumer Services	SF	+	4.8%			0.8%	06/32	2,894		2,894		2,892
West Star Aviation Inc	(g)	Capital Goods	SF	+	4.5%	(0.0% PIK	/ 2.8% PIK)	0.8%	05/32	16,301		16,243		16,366
West Star Aviation Inc	(f)	Capital Goods	SF	+	4.5%			0.8%	05/32	456		456		456
West Star Aviation Inc	(h)	Capital Goods	SF	+	4.5%	(0.0% PIK	/ 2.8% PIK)	0.8%	05/32	3,420		3,407		3,433
West Star Aviation Inc	(h)	Capital Goods	SF	+	4.5%			0.8%	05/32	1,824		1,824		1,824
Woolpert Inc	(f)	Capital Goods	SF	+	4.5%			1.0%	04/31	323		323		323
Woolpert Inc	(g)	Capital Goods	SF	+	4.5%			1.0%	04/32	19,488		19,488		19,488
Woolpert Inc	(h)	Capital Goods	SF	+	4.5%			1.0%	04/31	2,164		2,164		2,164
Woolpert Inc	(h)	Capital Goods	SF	+	4.5%			1.0%	04/32	4,976		4,976		4,926
Xylem Kendall	(f)	Commercial & Professional Services	SF	+	5.8%			1.0%	04/30	3,934		3,934		3,934
Xylem Kendall	(f)	Commercial & Professional Services	SF	+	5.9%			1.0%	04/30	256		256		256
Xylem Kendall	(h)	Commercial & Professional Services	SF	+	5.8%			1.0%	04/30	3,532		3,532		3,532
Xylem Kendall	(h)	Commercial & Professional Services	SF	+	5.9%			1.0%	04/30	345		345		345
Total Senior Secured Loans—First Lien												1,067,523		1,074,582
Unfunded Loan Commitments												(192,889)		(192,889)
Net Senior Secured Loans—First Lien												874,634		881,693

Asset Based Finance—30.6%
Auxilior Capital Partners Inc, Preferred Equity	(f)	Financial Services			14.5%	(9.5% PIK	/ 9.5% PIK)		04/30	$	918	918		933
CAFL 2024-RTL1 Issuer LLC, ABS	(e)(f)(j)	Real Estate Management & Development			10.2%				11/31	$	1,500	1,500		1,541
Discover Financial Services, ABF Equity	(f)(j)(l)	Financial Services								1,292,684		1,293		1,314
Discover Financial Services, Subordinated Loan	(f)(j)(l)	Financial Services			15.0%				09/34	$	2,369	2,369		2,369
EFMT 2024-INV1, ABS	(e)(f)(j)	Real Estate Management & Development			7.5%				03/69	$	3,828	3,651		3,810
EW Scripps Co/The, Revolver	(f)(j)	Media & Entertainment	SF	+	5.5%			0.8%	03/28	$	7,119	7,119		7,164
EW Scripps Co/The, Revolver	(h)(j)	Media & Entertainment	SF	+	5.5%			0.8%	03/28	$	4,825	4,825		4,856
Fidelis Mortgage Trust 2025-RTL1, ABS	(e)(f)(j)	Real Estate Management & Development			9.0%				02/40	$	2,700	2,655		2,713
FIGRE Trust 2024-HE3, ABS	(e)(f)(j)	Real Estate Management & Development			9.3%				07/54	$	1,148	1,153		1,224
Florida Food Products LLC, Revolver	(f)(j)	Food, Beverage & Tobacco	SF	+	4.8%			1.0%	06/28	$	4,022	4,022		4,022
Florida Food Products LLC, Revolver	(h)(j)	Food, Beverage & Tobacco	SF	+	4.8%			1.0%	06/28	$	788	788		788
Fortna Group Inc, Revolver	(f)(j)	Capital Goods	SF	+	4.8%			0.8%	06/29	$	14,041	14,041		14,041
Fortna Group Inc, Revolver	(h)(j)	Capital Goods	SF	+	4.8%			0.8%	06/29	$	2,036	2,036		2,036

See notes to unaudited consolidated financial statements.

Table of Contents

KKR FS Income Trust Select

Unaudited Consolidated Schedule of Investments (continued)

As of September 30, 2025

(in thousands, except share amounts)


Portfolio Company(a)	Footnotes	Industry	Rate(b)				Floor(b)	Maturity	Principal Amount(c)/Shares		Amortized Cost		Fair Value(d)
Global Lending Services LLC, ABF Equity	(f)(j)(k)	Financial Services							1,361,129		$	1,361	$	2,174
Global Lending Services LLC, Bond	(f)(j)	Financial Services			12.5%	PIK		12/32	$	2,397	2,397		2,397
Global Lending Services LLC, Bond	(f)(j)	Financial Services			12.5%	PIK		02/33	$	1,398	1,398		1,398
Global Lending Services LLC, Bond	(f)(j)	Financial Services			12.5%			05/33	$	841	841		841
Global Lending Services LLC, Bond	(f)(j)	Financial Services			12.5%			08/33	$	809	809		809
Harley-Davidson Financial Services Inc, ABF Equity	(f)(j)	Financial Services							5,683,663		5,684		5,684
HOMES 2024-AFC1 Trust, Structured Mezzanine	(e)(f)(j)	Real Estate Management & Development			7.6%			08/59	$	1,167	1,109		1,163
Homeward Opportunities Fund Trust 2024-RRTL2, ABS	(e)(f)(j)	Real Estate Management & Development			9.1%			09/39	$	4,726	4,726		4,721
Income Contingent Student Loans 1 2002-2006 PLC, ABS	(f)(j)	Financial Services			8.0%			07/56	£	2,942	3,661		4,025
Income Contingent Student Loans 2 2007-2009 PLC, ABS	(f)(j)	Financial Services			8.0%			07/58	£	8,776	10,920		11,891
IQUW UK Ltd, Bond	(f)(j)	Insurance			8.8%			03/35	$	3,643	3,643		3,709
John Wood Group PLC, Revolver	(f)(j)	Capital Goods	SF	+	5.5%		0.8%	10/28	$	10,800	10,800		10,800
John Wood Group PLC, Revolver	(h)(j)	Capital Goods	SF	+	5.5%		0.8%	10/28	$	16,200	16,200		16,200
Laurel Road Prime Student Loan Trust 2017-B, ABS	(f)(j)	Financial Services			6.8%			08/42	$	865	1,280		1,317
LHOME Mortgage Trust 2024-RTL4, ABS	(e)(f)(j)	Real Estate Management & Development			9.3%			07/39	$	4,507	4,507		4,581
LHOME Mortgage Trust 2025-RTL3, ABS	(e)(f)(j)	Real Estate Management & Development			6.9%			08/40	$	475	475		478
LHOME Mortgage Trust 2025-RTL3, ABS	(e)(f)(j)	Real Estate Management & Development			8.7%			08/40	$	339	339		341
Morgan Stanley Residential Mortgage Loan Trust 2025-DSC3, ABS	(e)(f)(j)	Real Estate Management & Development			6.4%			09/70	$	1,972	1,945		1,945
Morgan Stanley Residential Mortgage Loan Trust 2025-DSC3, ABS	(e)(f)(j)	Real Estate Management & Development			7.1%			09/70	$	3,406	3,242		3,242
Morgan Stanley Residential Mortgage Loan Trust 2025-DSC3, ABS	(e)(f)(j)	Real Estate Management & Development			1.9%			09/70	$	71,712	4,238		4,238
Morgan Stanley Residential Mortgage Loan Trust 2025-DSC3, ABS	(e)(f)(j)	Real Estate Management & Development			0.3%			09/70	$	71,712	468		468
Morgan Stanley Residential Mortgage Loan Trust 2025-HX1, ABS	(e)(f)(j)	Real Estate Management & Development			7.3%			03/70	$	1,280	1,182		1,264
Morgan Stanley Residential Mortgage Loan Trust 2025-HX1, ABS	(e)(f)(j)	Real Estate Management & Development			0.3%			03/70	$	49,039	326		315
Morgan Stanley Residential Mortgage Loan Trust 2025-HX1, ABS	(e)(f)(j)	Real Estate Management & Development			7.3%			03/70	$	1,153	1,095		1,170
Morgan Stanley Residential Mortgage Loan Trust 2025-HX1, ABS	(e)(f)(j)	Real Estate Management & Development			1.2%			03/70	$	49,039	1,534		1,468

See notes to unaudited consolidated financial statements.

Table of Contents

KKR FS Income Trust Select

Unaudited Consolidated Schedule of Investments (continued)

As of September 30, 2025

(in thousands, except share amounts)


Portfolio Company(a)	Footnotes	Industry	Rate(b)		Floor(b)	Maturity	Principal Amount(c)/Shares		Amortized Cost		Fair Value(d)
Morgan Stanley Residential Mortgage Loan Trust 2025-HX1, ABS	(e)(f)(j)	Real Estate Management & Development		7.3%		03/70	$	845	$	722	$	800
Morgan Stanley Residential Mortgage Loan Trust 2025-NQM6, ABS	(e)(f)(j)	Real Estate Management & Development		6.6%		07/70	$	1,542	1,521		1,526
Morgan Stanley Residential Mortgage Loan Trust 2025-NQM6, ABS	(e)(f)(j)	Real Estate Management & Development		7.2%		07/70	$	2,800	2,671		2,682
Morgan Stanley Residential Mortgage Loan Trust 2025-NQM6, ABS	(e)(f)(j)	Real Estate Management & Development		1.8%		07/70	$	80,883	3,487		3,616
Morgan Stanley Residential Mortgage Loan Trust 2025-NQM6, ABS	(e)(f)(j)	Real Estate Management & Development		0.3%		07/70	$	80,883	513		519
Newday Group Jersey Ltd, ABF Equity

KKR FS Income Trust Select 10-Q