v3.25.1
CONSOLIDATED SCHEDULE OF INVESTMENTS (Parentheticals)
$ in Thousands
Mar. 31, 2025
USD ($)
investment
Dec. 31, 2024
USD ($)
investment
Percent of net assets 196.56% [1] 195.62% [2],[3],[4],[5]
Investment, tax basis, unrealized gain $ 48,600 $ 50,500
Investment, tax basis, unrealized loss 69,600 71,100
Investment, tax basis, unrealized loss 21,000 20,700
Tax basis of investments, cost for income tax purposes 703,000 697,000
Amortized cost 719,798 [6],[7],[8] 713,732 [2],[3],[4],[9]
Total portfolio company investments $ 682,012 [7],[8] $ 676,249 [2],[3],[4]
Interest rate 14.40%  
Non-Qualifying Assets    
Percent of net assets 34.40% 32.70%
Non-Accrual Investment    
Amortized cost $ 38,100 $ 38,100
Total portfolio company investments $ 20,600 $ 20,600
Investments Not Valued At Fair Value    
Number of investments | investment 4 4
Investments Restricted On Sales    
Percent of net assets 196.40% 195.40%
Total portfolio company investments $ 681,500 $ 675,600
Debt Investments    
Percent of net assets 62.40% 62.80%
Investment, variable interest rate, type flag Prime Rate [Member]  
Outstanding principal $ 368,500 $ 368,000
Interest rate 3.25% 3.25%
[1] Value as a percentage of net assets.
[2] The Company generally acquires its investments in private transactions exempt from registration under the Securities Act. Unless otherwise indicated, all of the Company’s portfolio company investments are subject to restrictions on sales. As of December 31, 2024, the Company’s portfolio company investments that were subject to restrictions on sales totaled $675.6 million at fair value and represented 195.4% of the Company’s net assets. In addition, unless otherwise indicated, as of December 31, 2024, all investments are pledged as collateral as part of the Company’s revolving credit facility.
[3] Except for equity in four public companies, all investments were valued at fair value using Level 3 significant unobservable inputs as determined in good faith by the Board.
[4] Non-income producing investments.
[5] Value as a percentage of net assets.
[6] Gross unrealized gains, gross unrealized losses, and net unrealized losses for federal income tax purposes totaled $48.6 million, $69.6 million and $21.0 million, respectively, for the March 31, 2025 investment portfolio. The tax cost of investments is $703.0 million.
[7] The Company generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). Unless otherwise indicated, all of the Company’s portfolio company investments are subject to restrictions on sales. As of March 31, 2025, the Company’s portfolio company investments that were subject to restrictions on sales totaled $681.5 million at fair value and represented 196.4% of the Company’s net assets. In addition, unless otherwise indicated, as of March 31, 2025, all investments are pledged as collateral as part of the Company’s revolving credit facility.
[8] Except for equity in four public companies, all investments were valued at fair value using Level 3 significant unobservable inputs as determined in good faith by the Company’s board of directors (the “Board”).
[9] Gross unrealized gains, gross unrealized losses, and net unrealized losses for federal income tax purposes totaled $50.5 million, $71.1 million and $20.7 million, respectively, for the December 31, 2024 investment portfolio. The tax cost of investments is $697.0 million.