| Schedule of Investment Portfolio at Cost and Fair Value |
The following is a summary
of the composition of the Company’s investment portfolio at cost and fair value as of December 31, 2025:
| | |
As of December 31, 2025 | |
| | |
Amortized
Cost | | |
Fair Value | | |
% of Total
Investments
at Amortized
Cost | | |
% of Total
Investments
at Fair
Value | |
| First Lien Senior Secured Loans | |
$ | 254,405 | | |
$ | 253,989 | | |
| 100.0 | % | |
| 100.0 | % |
| Total | |
$ | 254,405 | | |
$ | 253,989 | | |
| 100.0 | % | |
| 100.0 | % |
The following is a summary
of the industry classifications in which the Company was invested as of December 31, 2025 (dollar amounts in thousands):
| As of December 31, 2025 |
| Industry Classification | |
Amortized
Cost | | |
Fair Value | | |
% of Total
Investments
at Amortized
Cost | | |
% of Total
Investments
at Fair
Value | |
| Aerospace & Defense | |
$ | 7,182 | | |
$ | 7,183 | | |
| 2.82 | % | |
| 2.83 | % |
| Air Freight & Logistics | |
| 1,759 | | |
| 1,759 | | |
| 0.69 | | |
| 0.69 | |
| Auto Components | |
| 3,232 | | |
| 3,232 | | |
| 1.27 | | |
| 1.27 | |
| Automobiles | |
| 8,157 | | |
| 8,169 | | |
| 3.20 | | |
| 3.22 | |
| Building Products | |
| 4,406 | | |
| 4,406 | | |
| 1.73 | | |
| 1.73 | |
| Chemicals | |
| 7,390 | | |
| 7,463 | | |
| 2.91 | | |
| 2.94 | |
| Commercial Services & Supplies | |
| 17,289 | | |
| 17,374 | | |
| 6.80 | | |
| 6.84 | |
| Construction & Engineering | |
| 21,384 | | |
| 21,479 | | |
| 8.40 | | |
| 8.46 | |
| Diversified Consumer Services | |
| 5,247 | | |
| 5,247 | | |
| 2.06 | | |
| 2.07 | |
| Diversified Financial Services | |
| 9,539 | | |
| 9,568 | | |
| 3.75 | | |
| 3.77 | |
| Electrical Equipment | |
| 11,266 | | |
| 11,266 | | |
| 4.43 | | |
| 4.43 | |
| Food & Staples Retailing | |
| 5,844 | | |
| 5,846 | | |
| 2.30 | | |
| 2.30 | |
| Health Care Equipment & Supplies | |
| 8,464 | | |
| 8,464 | | |
| 3.33 | | |
| 3.33 | |
| Health Care Providers & Services | |
| 15,039 | | |
| 15,039 | | |
| 5.91 | | |
| 5.92 | |
| Health Care Technology | |
| 13,278 | | |
| 12,817 | | |
| 5.22 | | |
| 5.05 | |
| Household Products | |
| 5,581 | | |
| 5,581 | | |
| 2.19 | | |
| 2.20 | |
| Insurance | |
| 1,920 | | |
| 1,920 | | |
| 0.75 | | |
| 0.76 | |
| Interactive Media & Services | |
| 6,095 | | |
| 6,098 | | |
| 2.39 | | |
| 2.40 | |
| IT Services | |
| 18,414 | | |
| 18,502 | | |
| 7.24 | | |
| 7.28 | |
| Life Sciences Tools & Services | |
| 2,902 | | |
| 2,902 | | |
| 1.14 | | |
| 1.14 | |
| Machinery | |
| 10,605 | | |
| 10,633 | | |
| 4.17 | | |
| 4.19 | |
| Media | |
| 14,541 | | |
| 13,854 | | |
| 5.72 | | |
| 5.45 | |
| Professional Services | |
| 15,484 | | |
| 15,793 | | |
| 6.09 | | |
| 6.22 | |
| Real Estate Management & Development | |
| 2,048 | | |
| 2,048 | | |
| 0.81 | | |
| 0.81 | |
| Road & Rail | |
| 1,161 | | |
| 1,154 | | |
| 0.46 | | |
| 0.45 | |
| Software | |
| 16,513 | | |
| 16,513 | | |
| 6.49 | | |
| 6.50 | |
| Specialty Retail | |
| 2,183 | | |
| 2,183 | | |
| 0.86 | | |
| 0.86 | |
| Trading Companies & Distributors | |
| 2,039 | | |
| 2,039 | | |
| 0.80 | | |
| 0.80 | |
| Transportation & Logistics | |
| 2,470 | | |
| 2,484 | | |
| 0.97 | | |
| 0.98 | |
| Transportation Infrastructure | |
| 6,903 | | |
| 6,903 | | |
| 2.71 | | |
| 2.72 | |
| Water Utilities | |
| 6,070 | | |
| 6,070 | | |
| 2.39 | | |
| 2.39 | |
| Total | |
$ | 254,405 | | |
$ | 253,989 | | |
| 100.00 | % | |
| 100.00 | % |
The following is a summary
of the geographical concentration of the Company’s investment portfolio as of December 31, 2025:
| | |
As of December 31, 2025 | |
| | |
Amortized
Cost | | |
Fair Value | | |
% of Total
Investments
at Amortized
Cost | | |
% of Total
Investments
at Fair
Value | |
| United States | |
$ | 254,405 | | |
$ | 253,989 | | |
| 100.00 | % | |
| 100.00 | % |
| Total | |
$ | 254,405 | | |
$ | 253,989 | | |
| 100.00 | % | |
| 100.00 | % |
|