| Schedule of Investment Portfolio at Amortized Cost and Fair Value |
The following table presents the composition of the Company’s investment portfolio at amortized cost and fair value as of March 31, 2025 and December 31, 2024:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2025 |
|
|
December 31, 2024 |
|
|
|
Amortized |
|
|
Fair |
|
|
Amortized |
|
|
Fair |
|
|
|
Cost |
|
|
Value |
|
|
Cost |
|
|
Value |
|
First-lien senior secured debt |
|
$ |
1,198,129,169 |
|
|
$ |
1,150,400,159 |
|
|
$ |
1,243,362,037 |
|
|
$ |
1,206,603,630 |
|
Second-lien senior secured debt |
|
|
81,455,745 |
|
|
|
72,072,969 |
|
|
|
84,821,531 |
|
|
|
77,650,130 |
|
Corporate Bonds |
|
|
4,906,704 |
|
|
|
4,232,288 |
|
|
|
4,883,315 |
|
|
|
4,214,315 |
|
CLO Mezzanine |
|
|
34,943,703 |
|
|
|
34,583,965 |
|
|
|
37,827,370 |
|
|
|
38,147,753 |
|
CLO Equity |
|
|
12,767,087 |
|
|
|
9,346,070 |
|
|
|
13,029,085 |
|
|
|
10,003,685 |
|
Equity |
|
|
8,145,051 |
|
|
|
6,822,978 |
|
|
|
1,258,194 |
|
|
|
1,081,497 |
|
Short-term investments |
|
|
56,855,834 |
|
|
|
56,855,834 |
|
|
|
69,429,935 |
|
|
|
69,429,935 |
|
Total Investments |
|
$ |
1,397,203,293 |
|
|
$ |
1,334,314,263 |
|
|
$ |
1,454,611,467 |
|
|
$ |
1,407,130,945 |
|
|
| Schedule of Percentage of Total Investments at Fair Value |
The industry composition of investments based on fair value, as a percentage of total investments at fair value, as of March 31, 2025 and December 31, 2024 was as follows:
|
|
|
|
|
|
|
|
|
|
|
March 31,
2025 |
|
|
December 31,
2024 |
|
Software |
|
|
10.6 |
% |
|
|
10.2 |
% |
Healthcare Providers and Services |
|
|
9.1 |
% |
|
|
9.4 |
% |
Professional Services |
|
|
7.4 |
% |
|
|
7.7 |
% |
IT Services |
|
|
6.9 |
% |
|
|
6.7 |
% |
Chemicals |
|
|
5.3 |
% |
|
|
5.1 |
% |
Short-Term Investments |
|
|
4.3 |
% |
|
|
4.9 |
% |
Construction and Engineering |
|
|
4.1 |
% |
|
|
4.5 |
% |
Diversified Financial Services |
|
|
3.8 |
% |
|
|
3.9 |
% |
Insurance |
|
|
3.8 |
% |
|
|
5.0 |
% |
Media |
|
|
3.4 |
% |
|
|
3.1 |
% |
Independent Power and Renewable Electricity Producers |
|
|
3.4 |
% |
|
|
3.3 |
% |
Hotels, Restaurants and Leisure |
|
|
3.4 |
% |
|
|
3.1 |
% |
Electronic Equipment, Instruments and Components |
|
|
2.9 |
% |
|
|
2.8 |
% |
Food Products |
|
|
2.6 |
% |
|
|
1.9 |
% |
Structured Note |
|
|
2.6 |
% |
|
|
2.7 |
% |
Auto Components |
|
|
2.3 |
% |
|
|
2.2 |
% |
Internet Software and Services |
|
|
2.2 |
% |
|
|
1.9 |
% |
Energy Equipment and Services |
|
|
1.9 |
% |
|
|
1.7 |
% |
Building Products |
|
|
1.9 |
% |
|
|
1.9 |
% |
Diversified Consumer Services |
|
|
1.8 |
% |
|
|
2.6 |
% |
Machinery |
|
|
1.7 |
% |
|
|
1.8 |
% |
Containers and Packaging |
|
|
1.5 |
% |
|
|
1.5 |
% |
Metals and Mining |
|
|
1.4 |
% |
|
|
1.4 |
% |
Interactive Media Services |
|
|
1.3 |
% |
|
|
0.7 |
% |
Industrial Conglomerates |
|
|
1.3 |
% |
|
|
0.7 |
% |
Diversified Telecommunication Services |
|
|
1.2 |
% |
|
|
2.2 |
% |
Household Durables |
|
|
0.9 |
% |
|
|
0.2 |
% |
Commercial Services and Supplies |
|
|
0.8 |
% |
|
|
0.6 |
% |
Aerospace and Defense |
|
|
0.7 |
% |
|
|
0.7 |
% |
Real Estate Management and Development |
|
|
0.7 |
% |
|
|
0.6 |
% |
Wireless Telecommunication Services |
|
|
0.7 |
% |
|
|
0.7 |
% |
Structured Subordinated Note |
|
|
0.7 |
% |
|
|
0.7 |
% |
Healthcare Equipment and Supplies |
|
|
0.7 |
% |
|
|
0.6 |
% |
Road and Rail |
|
|
0.7 |
% |
|
|
0.6 |
% |
Pharmaceuticals |
|
|
0.6 |
% |
|
|
0.6 |
% |
Electrical Equipment |
|
|
0.4 |
% |
|
|
0.7 |
% |
Specialty Retail |
|
|
0.4 |
% |
|
|
0.5 |
% |
Automotive |
|
|
0.3 |
% |
|
|
— |
|
Construction Materials |
|
|
0.3 |
% |
|
|
— |
|
Electric Utilities |
|
|
— |
|
|
|
0.6 |
% |
Total |
|
|
100.0 |
% |
|
|
100.0 |
% |
|