| Schedule of Investments |
The composition of the Company’s investment portfolio at cost and fair value as of March 31, 2026 and December 31, 2025 was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2026 | | December 31, 2025 | | Amortized Cost | | Fair Value | | % of Total Investments at Fair Value | | Amortized Cost | | Fair Value | | % of Total Investments at Fair Value | First Lien Debt | $ | 2,751,044 | | $ | 2,716,402 | | 91.2 | % | | $ | 2,630,098 | | $ | 2,616,864 | | 90.4 | % | Second Lien Debt | 222,528 | | 200,895 | | 6.7% | | 226,842 | | 225,900 | | 7.8 | % | Preferred Equity | 41,768 | | 42,986 | | 1.4% | | 41,545 | | 43,101 | | 1.5 | % | Common Stocks | 7,318 | | 7,347 | | 0.2% | | 7,318 | | 7,694 | | 0.3% | Asset Backed Securities | 16,100 | | 16,033 | | 0.5% | | — | | — | | —% | Total | $ | 3,038,758 | | $ | 2,983,663 | | 100.0% | | $ | 2,905,803 | | $ | 2,893,559 | | 100.0% |
The industry composition of investments based on fair value as of March 31, 2026 and December 31, 2025 were as follows:
| | | | | | | March 31, 2026 | High Tech | 20.7% | Services: Business | 16.3% | Healthcare, Education and Childcare | 14.0% | Automobile | 7.0% | Services: Consumer | 5.5% | Capital Equipment | 5.0% | Media: Diversified & Production | 3.9% | Finance | 3.7% | Construction & Building | 3.7% | Insurance | 3.2% | Telecommunications | 2.5% | Aerospace and Defense | 2.4% | Chemicals, Plastics and Rubber | 2.1% | Retail Stores | 2.1% | Consumer Goods: Durable | 1.7% | Cargo Transport | 1.2% | Containers, Packaging and Glass | 1.1% | Buildings and Real Estate | 1.1% | Printing and Publishing | 0.9% | Ecological | 0.7% | Banking | 0.6% | Utilities: Water | 0.6% | | | | | Total | 100.0 | % |
| | | | | | | December 31, 2025 | High Tech | 19.6% | Services: Business | 16.9% | Healthcare, Education and Childcare | 14.6% | Automobile | 6.7% | Services: Consumer | 5.7% | Capital Equipment | 5.2% | Finance | 4.2% | Media: Diversified & Production | 4.1% | Construction & Building | 3.5% | Insurance | 3.0% | Aerospace and Defense | 2.5% | Chemicals, Plastics and Rubber | 2.4% | Retail Stores | 2.2% | Telecommunications | 1.9% | Consumer Goods: Durable | 1.7% | Cargo Transport | 1.2% | Containers, Packaging and Glass | 1.2% | Buildings and Real Estate | 1.1% | Printing and Publishing | 0.9% | Ecological | 0.6% | Utilities: Water | 0.5% | Banking | 0.3% | | | Total | 100.0 | % |
The geographic composition of investments at cost and fair value as of March 31, 2026 and December 31, 2025 were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2026 | | Amortized Cost | | Fair Value | | % of Total Investments at Fair Value | | Fair Value as % of Net Assets | United States | $ | 2,862,842 | | $ | 2,803,155 | | 93.9 | % | | 171.1 | % | United Kingdom | 74,816 | | 75,078 | | 2.5 | % | | 4.6 | % | Germany | 59,880 | | 62,841 | | 2.1 | % | | 3.8 | % | Canada | 27,044 | | 27,089 | | 0.9 | % | | 1.7 | % | Greece | 9,322 | | 10,646 | | 0.4 | % | | 0.6 | % | Ireland | 4,854 | | 4,854 | | 0.2 | % | | 0.3 | % | | | | | | | | | Total | $ | 3,038,758 | | $ | 2,983,663 | | 100.0% | | 182.1% |
| | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | Amortized Cost | | Fair Value | | % of Total Investments at Fair Value | | Fair Value as % of Net Assets | United States | $ | 2,730,855 | | $ | 2,712,441 | | 93.7 | % | | 170.8 | % | United Kingdom | 74,965 | | 75,149 | | 2.6 | % | | 4.7 | % | Germany | 59,819 | | 64,215 | | 2.2 | % | | 4.0 | % | Canada | 25,989 | | 26,257 | | 0.9 | % | | 1.7 | % | Greece | 9,321 | | 10,643 | | 0.4 | % | | 0.7 | % | Ireland | 4,854 | | 4,854 | | 0.2 | % | | 0.3 | % | Total | $ | 2,905,803 | | $ | 2,893,559 | | 100.0% | | 182.2% |
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