| 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 June 30, 2025 and December 31, 2024:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2025 |
|
|
December 31, 2024 |
|
|
|
Ammortized Cost |
|
|
Fair Value |
|
|
Ammortized Cost |
|
|
Fair Value |
|
First-lien senior secured debt |
|
$ |
1,152,451,190 |
|
|
$ |
1,104,986,930 |
|
|
$ |
1,243,362,037 |
|
|
$ |
1,206,603,630 |
|
Second-lien senior secured debt |
|
|
81,495,629 |
|
|
|
72,227,601 |
|
|
|
84,821,531 |
|
|
|
77,650,130 |
|
Corporate Bonds |
|
|
5,040,559 |
|
|
|
4,337,445 |
|
|
|
4,883,315 |
|
|
|
4,214,315 |
|
CLO Mezzanine |
|
|
34,947,135 |
|
|
|
34,598,554 |
|
|
|
37,827,370 |
|
|
|
38,147,753 |
|
CLO Equity |
|
|
12,002,166 |
|
|
|
8,096,713 |
|
|
|
13,029,085 |
|
|
|
10,003,685 |
|
Equity |
|
|
8,898,160 |
|
|
|
6,772,148 |
|
|
|
1,258,194 |
|
|
|
1,081,497 |
|
Short-term investments |
|
|
48,773,413 |
|
|
|
48,773,413 |
|
|
|
69,429,935 |
|
|
|
69,429,935 |
|
Total Investments |
|
$ |
1,343,608,252 |
|
|
$ |
1,279,792,804 |
|
|
$ |
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 June 30, 2025 and December 31, 2024 was as follows:
|
|
|
|
|
|
|
|
|
|
|
June 30,
2025 |
|
|
December 31,
2024 |
|
Software |
|
|
10.9 |
% |
|
|
10.2 |
% |
Healthcare Providers and Services |
|
|
9.5 |
% |
|
|
9.4 |
% |
Professional Services |
|
|
7.7 |
% |
|
|
7.7 |
% |
IT Services |
|
|
6.3 |
% |
|
|
6.7 |
% |
Chemicals |
|
|
5.5 |
% |
|
|
5.1 |
% |
Construction and Engineering |
|
|
4.6 |
% |
|
|
4.5 |
% |
Diversified Financial Services |
|
|
4.6 |
% |
|
|
3.9 |
% |
Insurance |
|
|
4.2 |
% |
|
|
5.0 |
% |
Short-Term Investments |
|
|
3.8 |
% |
|
|
4.9 |
% |
Independent Power and Renewable Electricity Producers |
|
|
3.7 |
% |
|
|
3.3 |
% |
Electronic Equipment, Instruments and Components |
|
|
3.1 |
% |
|
|
2.8 |
% |
Hotels, Restaurants and Leisure |
|
|
2.9 |
% |
|
|
3.1 |
% |
Media |
|
|
2.7 |
% |
|
|
3.1 |
% |
Structured Note |
|
|
2.7 |
% |
|
|
2.7 |
% |
Auto Components |
|
|
2.4 |
% |
|
|
2.2 |
% |
Internet Software and Services |
|
|
2.3 |
% |
|
|
1.9 |
% |
Food Products |
|
|
2.1 |
% |
|
|
1.9 |
% |
Containers and Packaging |
|
|
2.1 |
% |
|
|
1.5 |
% |
Building Products |
|
|
2.0 |
% |
|
|
1.9 |
% |
Machinery |
|
|
1.8 |
% |
|
|
1.8 |
% |
Metals and Mining |
|
|
1.4 |
% |
|
|
1.4 |
% |
Interactive Media Services |
|
|
1.3 |
% |
|
|
0.7 |
% |
Diversified Consumer Services |
|
|
1.2 |
% |
|
|
2.6 |
% |
Commercial Services and Supplies |
|
|
1.1 |
% |
|
|
0.6 |
% |
Energy Equipment and Services |
|
|
1.1 |
% |
|
|
1.7 |
% |
Diversified Telecommunication Services |
|
|
0.9 |
% |
|
|
2.2 |
% |
Household Durables |
|
|
0.9 |
% |
|
|
0.2 |
% |
Industrial Conglomerates |
|
|
0.9 |
% |
|
|
0.7 |
% |
Real Estate Management and Development |
|
|
0.8 |
% |
|
|
0.6 |
% |
Aerospace and Defense |
|
|
0.8 |
% |
|
|
0.7 |
% |
Healthcare Equipment and Supplies |
|
|
0.7 |
% |
|
|
0.6 |
% |
Road and Rail |
|
|
0.7 |
% |
|
|
0.6 |
% |
Specialty Retail |
|
|
0.7 |
% |
|
|
0.5 |
% |
Pharmaceuticals |
|
|
0.7 |
% |
|
|
0.6 |
% |
Structured Subordinated Note |
|
|
0.6 |
% |
|
|
0.7 |
% |
Automotive |
|
|
0.6 |
% |
|
|
— |
|
Electrical Equipment |
|
|
0.4 |
% |
|
|
0.7 |
% |
Entertainment |
|
|
0.2 |
% |
|
|
— |
|
Construction Materials |
|
|
0.1 |
% |
|
|
— |
|
Wireless Telecommunication Services |
|
|
— |
|
|
|
0.7 |
% |
Electric Utilities |
|
|
— |
|
|
|
0.6 |
% |
Total |
|
|
100.0 |
% |
|
|
100.0 |
% |
|