Note 4. Investments The following table presents the composition of the Company’s investment portfolio at amortized cost and fair value as of March 31, 2026 and December 31, 2025.
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
|
December 31, 2025 |
|
|
|
Amortized
Cost |
|
|
Fair Value |
|
|
Amortized
Cost |
|
|
Fair Value |
|
First-lien senior secured debt investments |
|
$ |
314,628 |
|
|
$ |
315,786 |
|
|
$ |
314,856 |
|
|
$ |
317,355 |
|
Investments in money market funds |
|
|
37,620 |
|
|
|
37,620 |
|
|
|
34,361 |
|
|
|
34,361 |
|
Total Investments |
|
$ |
352,248 |
|
|
$ |
353,406 |
|
|
$ |
349,217 |
|
|
$ |
351,716 |
|
As of March 31, 2026 and December 31, 2025, all of the company's debt investments were qualifying assets. The Company uses Global Industry Classification Standards (GICS), Level 3 – Industry, for classifying the industry groupings of its portfolio companies. The industry composition of long-term investments based on fair value as of March 31, 2026 and December 31, 2025 was as follows:
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|
|
|
|
|
March 31,
2026 |
|
|
|
December 31,
2025 |
|
|
Health care providers & services |
|
|
14.5 |
|
% |
|
|
14.0 |
|
% |
Distributors |
|
|
13.4 |
|
% |
|
14.6 |
|
% |
Commercial services & supplies |
|
|
11.1 |
|
% |
|
11.6 |
|
% |
Food products |
|
|
10.9 |
|
% |
|
10.9 |
|
% |
Containers & packaging |
|
|
9.0 |
|
% |
|
8.1 |
|
% |
Professional services |
|
|
6.5 |
|
% |
|
6.5 |
|
% |
Machinery |
|
|
5.6 |
|
% |
|
6.9 |
|
% |
Aerospace & defense |
|
|
3.5 |
|
% |
|
3.5 |
|
% |
Chemicals |
|
|
3.3 |
|
% |
|
3.3 |
|
% |
Leisure products |
|
|
3.3 |
|
% |
|
3.2 |
|
% |
Building products |
|
|
2.4 |
|
% |
|
2.3 |
|
% |
Personal care products |
|
|
2.2 |
|
% |
|
0.8 |
|
% |
Household products |
|
|
2.1 |
|
% |
|
2.1 |
|
% |
Automobile components |
|
|
2.0 |
|
% |
|
1.9 |
|
% |
Diversified consumer services |
|
|
1.6 |
|
% |
|
1.6 |
|
% |
IT services |
|
|
1.6 |
|
% |
|
1.6 |
|
% |
Biotechnology |
|
|
1.4 |
|
% |
|
1.4 |
|
% |
Household durables |
|
|
1.4 |
|
% |
|
1.4 |
|
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31,
2026 |
|
|
|
December 31,
2025 |
|
|
Wireless telecommunication services |
|
|
1.2 |
|
% |
|
1.2 |
|
% |
Health care equipment & supplies |
|
|
0.9 |
|
% |
|
0.9 |
|
% |
Diversified telecommunication services |
|
|
0.8 |
|
% |
|
0.8 |
|
% |
Textiles, apparel & luxury goods |
|
|
0.7 |
|
% |
|
0.8 |
|
% |
Insurance |
|
|
0.6 |
|
% |
|
0.6 |
|
% |
|
|
|
100.0 |
|
% |
|
|
100.0 |
|
% |
|