v3.26.1
Investments (Tables)
 3 Months Ended
Mar. 31, 2026
Investments [Abstract]  
Schedule of Composition of the Company's Investment Portfolio
The following tables show the composition of the Company’s investment portfolio, at amortized cost and fair value (with corresponding percentage of total portfolio investments) as of March 31, 2026 and December 31, 2025:
March 31, 2026December 31, 2025
Amortized Cost:
Senior secured loans$5,053,789 85.4 %$5,109,431 86.4 %
Unitranche secured loans18,117 0.3 35,221 0.6 
Junior secured loans409,020 6.9 361,428 6.1 
Equity investments435,347 7.4 407,283 6.9 
Total$5,916,273 100.0 %$5,913,363 100.0 %
March 31, 2026December 31, 2025
Fair Value:
Senior secured loans$5,029,403 86.6 %$5,090,861 87.4 %
Unitranche secured loans18,159 0.3 35,414 0.6 
Junior secured loans320,109 5.6 277,025 4.8 
Equity investments436,886 7.5 416,455 7.2 
Total$5,804,557 100.0 %$5,819,755 100.0 %
The following tables show the composition of the Company’s investment portfolio by geographic region, at amortized cost and fair value (with corresponding percentage of total portfolio investments) as of March 31, 2026 and December 31, 2025. The geographic composition is determined by the location of the corporate headquarters of the portfolio company, which may not be indicative of the primary source of the portfolio company’s business:
March 31, 2026December 31, 2025
Amortized Cost:
United States:
Midwest$1,081,929 18.3 %$1,093,220 18.5 %
Northeast1,319,510 22.3 1,337,031 22.6 
Northwest75,666 1.3 106,019 1.8 
Southeast1,509,315 25.5 1,431,430 24.2 
Southwest610,811 10.4 602,184 10.2 
West1,071,815 18.2 1,075,499 18.3 
International247,227 4.0 267,980 4.4 
Total$5,916,273 100.0 %$5,913,363 100.0 %
March 31, 2026December 31, 2025
Fair Value:
United States:
Midwest$988,682 17.1 %$1,007,605 17.3 %
Northeast1,325,343 22.8 1,345,901 23.1 
Northwest75,927 1.3 108,809 1.9 
Southeast1,549,169 26.7 1,471,723 25.3 
Southwest587,555 10.1 578,702 9.9 
West1,031,465 17.8 1,044,597 18.0 
International246,416 4.2 262,418 4.5 
Total$5,804,557 100.0 %$5,819,755 100.0 %
The following tables show the composition of the Company’s investment portfolio by industry, at amortized cost and fair value (with corresponding percentage of total portfolio investments) as of March 31, 2026 and December 31, 2025:
March 31, 2026December 31, 2025
Amortized Cost:
Aerospace & Defense$36,588 0.6 %$41,610 0.7 %
Automotive125,059 2.1 132,579 2.2 
Banking46,982 0.8 46,932 0.8 
Beverage, Food & Tobacco146,101 2.5 146,450 2.5 
Capital Equipment209,527 3.5 278,579 4.7 
Chemicals, Plastics & Rubber53,788 0.9 53,586 0.9 
Construction & Building290,699 4.9 275,448 4.7 
Consumer Goods: Durable83,341 1.4 87,104 1.5 
Consumer Goods: Non-Durable85,306 1.4 87,121 1.5 
Containers, Packaging & Glass90,878 1.5 57,824 1.0 
Energy: Oil & Gas132 
0.0 *
132 
0.0 *
Environmental Industries103,406 1.8 101,103 1.7 
FIRE: Finance386,713 6.5 395,159 6.7 
FIRE: Real Estate169,276 2.9 170,649 2.9 
Healthcare & Pharmaceuticals864,498 14.6 831,390 14.1 
High Tech Industries772,689 13.1 765,255 12.9 
Hotels, Gaming & Leisure95 
0.0 *
95 
0.0 *
Media: Advertising, Printing & Publishing306,677 5.2 327,320 5.4 
Media: Broadcasting & Subscription3,448 0.1 3,448 0.1 
Media: Diversified & Production90,770 1.5 92,892 1.5 
Retail14,819 0.3 14,448 0.2 
Services: Business1,309,171 22.1 1,276,711 21.6 
Services: Consumer362,081 6.1 341,755 5.8 
Telecommunications85,791 1.5 129,104 2.2 
Transportation: Cargo225,437 3.8 211,690 3.6 
Transportation: Consumer6,102 0.1 — — 
Utilities: Electric4,504 0.1 4,504 0.1 
Wholesale42,395 0.7 40,475 0.7 
Total$5,916,273 100.0 %$5,913,363 100.0 %
March 31, 2026December 31, 2025
Fair Value:
Aerospace & Defense$37,596 0.6 %$40,434 0.7 %
Automotive52,590 0.9 61,039 1.0 
Banking40,681 0.7 40,681 0.7 
Beverage, Food & Tobacco146,773 2.5 145,549 2.5 
Capital Equipment201,387 3.5 272,138 4.7 
Chemicals, Plastics & Rubber54,436 0.9 53,692 0.9 
Construction & Building298,568 5.1 282,687 4.9 
Consumer Goods: Durable45,212 0.8 54,861 0.9 
Consumer Goods: Non-Durable77,918 1.3 80,235 1.4 
Containers, Packaging & Glass90,346 1.6 57,516 1.0 
Energy: Oil & Gas191 
0.0 *
133 
0.0 *
Environmental Industries102,477 1.8 100,594 1.7 
FIRE: Finance394,126 6.8 401,245 6.9 
FIRE: Real Estate171,319 3.0 173,367 3.0 
Healthcare & Pharmaceuticals851,618 14.7 822,082 14.1 
High Tech Industries767,067 13.2 768,219 13.2 
Hotels, Gaming & Leisure304 
0.0 *
122 
0.0 *
Media: Advertising, Printing & Publishing301,268 5.2 324,332 5.6 
Media: Broadcasting & Subscription474 
0.0 *
523 
0.0 *
Media: Diversified & Production85,965 1.5 88,577 1.5 
Retail14,976 0.3 14,624 0.3 
Services: Business1,331,015 22.9 1,299,308 22.3 
Services: Consumer361,145 6.2 338,841 5.8 
Telecommunications80,952 1.4 122,038 2.1 
Transportation: Cargo210,656 3.6 201,888 3.5 
Transportation: Consumer6,102 0.1 — — 
Utilities: Electric37,999 0.7 36,030 0.6 
Wholesale41,396 0.7 39,000 0.7 
Total$5,804,557 100.0 %$5,819,755 100.0 %
_______________________________________________________
*Represents an amount less than 0.1%.