| Summary by Major Security Type of Fair Valuations According to Inputs Used in Valuing Investments |
The following is a summary by major security type of the fair valuations according to inputs used in valuing investments listed in the Consolidated Schedule of Investments as of June 30, 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
Debt |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,234,921 |
|
|
$ |
1,234,921 |
|
Equity |
|
|
— |
|
|
|
— |
|
|
|
8,540 |
|
|
|
8,540 |
|
Cash equivalents |
|
|
44,895 |
|
|
|
— |
|
|
|
— |
|
|
|
44,895 |
|
Total |
|
$ |
44,895 |
|
|
$ |
— |
|
|
$ |
1,243,461 |
|
|
$ |
1,288,356 |
|
The following is a summary by major security type of the fair valuations according to inputs used in valuing investments listed in the Consolidated Schedule of Investments as of December 31, 2024:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
Debt |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
941,903 |
|
|
$ |
941,903 |
|
Equity |
|
|
— |
|
|
|
— |
|
|
|
224 |
|
|
|
224 |
|
Cash equivalents |
|
|
87,815 |
|
|
|
— |
|
|
|
— |
|
|
|
87,815 |
|
Total |
|
$ |
87,815 |
|
|
$ |
— |
|
|
$ |
942,127 |
|
|
$ |
1,029,942 |
|
|
| Reconciliation of Beginning and Ending Balances for Total Investments |
The following tables provide a reconciliation of the beginning and ending balances for total investments that use Level 3 inputs for the three and six months ended June 30, 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
Equity |
|
|
Total |
|
Balance, April 1, 2025 |
|
$ |
1,097,095 |
|
|
$ |
2,031 |
|
|
$ |
1,099,126 |
|
Purchases |
|
|
263,529 |
|
|
|
1,176 |
|
|
|
264,705 |
|
Sales and paydowns of investments |
|
|
(105,893 |
) |
|
|
(277 |
) |
|
|
(106,170 |
) |
Amortization of premium and accretion of discount, net |
|
|
2,267 |
|
|
|
— |
|
|
|
2,267 |
|
Net realized loss |
|
|
(75 |
) |
|
|
— |
|
|
|
(75 |
) |
Net change in unrealized appreciation/(depreciation) |
|
|
(22,002 |
) |
|
|
5,610 |
|
|
|
(16,392 |
) |
Balance, June 30, 2025 |
|
$ |
1,234,921 |
|
|
$ |
8,540 |
|
|
$ |
1,243,461 |
|
Change in net unrealized appreciation/(depreciation) in investments held as of June 30, 2025 |
|
$ |
(21,121 |
) |
|
$ |
5,610 |
|
|
$ |
(15,511 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
Equity |
|
|
Total |
|
Balance, January 1, 2025 |
|
$ |
941,903 |
|
|
$ |
224 |
|
|
$ |
942,127 |
|
Purchases, including payments received in-kind |
|
|
438,398 |
|
|
|
1,933 |
|
|
|
440,331 |
|
Sales and paydowns of investments |
|
|
(121,305 |
) |
|
|
(401 |
) |
|
|
(121,706 |
) |
Amortization of premium and accretion of discount, net |
|
|
3,703 |
|
|
|
— |
|
|
|
3,703 |
|
Net realized loss |
|
|
(75 |
) |
|
|
— |
|
|
|
(75 |
) |
Net change in unrealized appreciation/(depreciation) |
|
|
(27,703 |
) |
|
|
6,784 |
|
|
|
(20,919 |
) |
Balance, June 30, 2025 |
|
$ |
1,234,921 |
|
|
$ |
8,540 |
|
|
$ |
1,243,461 |
|
Change in net unrealized appreciation/(depreciation) in investments held as of June 30, 2025 |
|
$ |
(26,823 |
) |
|
$ |
6,784 |
|
|
$ |
(20,039 |
) |
3.Investment Valuations and Fair Value Measurements (Continued) The following tables provide a reconciliation of the beginning and ending balances for total investments that use Level 3 inputs for the three and six months ended June 30, 2024:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
Equity |
|
|
Total |
|
Balance, April 1, 2024 |
|
$ |
823,989 |
|
|
$ |
— |
|
|
$ |
823,989 |
|
Purchases |
|
|
157,484 |
|
|
|
— |
|
|
|
157,484 |
|
Sales and paydowns of investments |
|
|
(37,773 |
) |
|
|
— |
|
|
|
(37,773 |
) |
Amortization of premium and accretion of discount, net |
|
|
1,685 |
|
|
|
— |
|
|
|
1,685 |
|
Net realized loss |
|
|
(3 |
) |
|
|
— |
|
|
|
(3 |
) |
Net change in unrealized appreciation/(depreciation) |
|
|
1,643 |
|
|
|
1,115 |
|
|
|
2,758 |
|
Balance, June 30, 2024 |
|
$ |
947,025 |
|
|
$ |
1,115 |
|
|
$ |
948,140 |
|
Change in net unrealized appreciation/(depreciation) in investments held as of June 30, 2024 |
|
$ |
1,640 |
|
|
$ |
1,115 |
|
|
$ |
2,755 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
Equity |
|
|
Total |
|
Balance, January 1, 2024 |
|
$ |
742,916 |
|
|
$ |
— |
|
|
$ |
742,916 |
|
Purchases, including payments received in-kind |
|
|
299,895 |
|
|
|
— |
|
|
|
299,895 |
|
Sales and paydowns of investments |
|
|
(96,071 |
) |
|
|
— |
|
|
|
(96,071 |
) |
Amortization of premium and accretion of discount, net |
|
|
3,523 |
|
|
|
— |
|
|
|
3,523 |
|
Net realized gain |
|
|
106 |
|
|
|
— |
|
|
|
106 |
|
Net change in unrealized appreciation/(depreciation) |
|
|
(3,344 |
) |
|
|
1,115 |
|
|
|
(2,229 |
) |
Balance, June 30, 2024 |
|
$ |
947,025 |
|
|
$ |
1,115 |
|
|
$ |
948,140 |
|
Change in net unrealized appreciation/(depreciation) in investments held as of June 30, 2024 |
|
$ |
(1,707 |
) |
|
$ |
1,115 |
|
|
$ |
(592 |
) |
|