v3.26.1
CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Assets    
Investments at fair value $ 25,149,083 $ 24,515,628
Cash and cash equivalents 648,639 498,557
Foreign currencies (cost - $47,510 and $47,510 at March 31, 2026 and December 31, 2025, respectively) 96,873 47,510
Receivable for investments sold 715,152 679,768
Interest receivable 183,525 143,715
Unrealized appreciation on foreign currency forward contracts 36,969 0
Other assets 103,677 12,362
Total assets 26,933,918 25,897,540
Liabilities    
Debt (net of deferred financing costs and unamortized original issue discount of $85,886 and $85,886 at March 31, 2026 and December 31, 2025, respectively) 10,527,741 9,485,967
Payable for investments purchased 873,213 593,548
Payable for share repurchases (Note 7) 723,055 688,665
Distributions payable 112,076 111,985
Interest payable 119,587 144,938
Management fees payable 16,267 16,434
Performance-based incentive fees payable 43,068 44,714
Accrued administrative services expense payable 837 1,015
Unrealized depreciation on foreign currency forward contracts 0 27,819
Other liabilities and accrued expenses 73,387 12,247
Total liabilities 12,489,231 11,127,332
Commitments and contingencies (Note 8)
Total Net Assets 14,444,687 14,770,208
Net Assets    
Common shares, $0.01 par value (605,221,633 and 605,221,633 shares issued and outstanding, respectively) 6,045 6,052
Capital in excess of par value 14,904,186 14,909,068
Accumulated distributed earnings (losses) (465,544) (144,912)
Equity, Attributable to Parent $ 14,444,687 $ 14,770,208
Common shares outstanding 604,483,047 605,221,633
Class S Shares    
Liabilities    
Total Net Assets $ 2,862,514  
Net Assets    
Equity, Attributable to Parent $ 2,862,514 $ 2,893,219
Common shares outstanding 119,790,836 118,552,219
Net asset value per share $ 23.9 $ 24.4
Class D Shares    
Liabilities    
Total Net Assets $ 39,636  
Net Assets    
Equity, Attributable to Parent $ 39,636 $ 40,293
Common shares outstanding 1,658,694 1,651,023
Net asset value per share $ 23.9 $ 24.4
Class I Shares    
Liabilities    
Total Net Assets $ 11,542,537  
Net Assets    
Equity, Attributable to Parent $ 11,542,537 $ 11,836,696
Common shares outstanding 483,033,517 485,018,391
Net asset value per share $ 23.9 $ 24.4
Non-controlled/Non-affiliated Investments    
Assets    
Investments at fair value $ 25,149,083 [1],[2],[3],[4],[5] $ 24,515,628 [6],[7],[8],[9],[10]
[1] Aggregate gross unrealized gain and loss for federal income tax purposes are $204,297 and $(481,992), respectively. Net unrealized loss is $(277,695) based on a total tax cost of $25,426,778.
[2] All debt investments are income producing unless otherwise indicated. All equity investments are non-income producing unless otherwise noted.
[3] Fair value is determined in good faith by or under the direction of the Board of Trustees of the Company (the "Board") (See Note 2 to the consolidated financial statements).
[4] The following shows the composition of the Company’s portfolio at fair value by investment type, industry and region as of March 31, 2026:

Industry

 

First Lien - Secured Debt

 

Second Lien - Secured Debt

 

Unsecured Debt

 

Preferred Equity

 

Common Equity

 

Total

 

% of Net Assets

Aerospace & Defense

 

 $

933,938

 

 $

—

 

 $

—

 

 $

—

 

 $

—

 

 $

933,938

 

6.5%

Air Freight & Logistics

 

 

158,233

 

 

—

 

 

—

 

 

—

 

 

—

 

 

158,233

 

1.1%

Automobile Components

 

 

262,704

 

 

—

 

 

—

 

 

—

 

 

—

 

 

262,704

 

1.8%

Banks

 

 

64,869

 

 

—

 

 

35,200

 

 

—

 

 

—

 

 

100,069

 

0.7%

Beverages

 

 

52,460

 

 

—

 

 

—

 

 

—

 

 

—

 

 

52,460

 

0.4%

Building Products

 

 

602,675

 

 

—

 

 

—

 

 

—

 

 

—

 

 

602,675

 

4.2%

Capital Markets

 

 

340,027

 

 

—

 

 

—

 

 

—

 

 

—

 

 

340,027

 

2.4%

Chemicals

 

 

153,287

 

 

—

 

 

—

 

 

—

 

 

156

 

 

153,443

 

1.1%

Commercial Services & Supplies

 

 

1,427,681

 

 

5,398

 

 

—

 

 

49

 

 

29

 

 

1,433,157

 

9.9%

Communications Equipment

 

 

13,204

 

 

—

 

 

—

 

 

—

 

 

202

 

 

13,406

 

0.1%

Construction & Engineering

 

 

389,985

 

 

—

 

 

—

 

 

—

 

 

137

 

 

390,122

 

2.7%

Construction Materials

 

 

36,119

 

 

—

 

 

—

 

 

—

 

 

—

 

 

36,119

 

0.3%

Consumer Staples Distribution & Retail

 

 

635,718

 

 

—

 

 

—

 

 

—

 

 

—

 

 

635,718

 

4.4%

Containers & Packaging

 

 

186,737

 

 

—

 

 

—

 

 

—

 

 

—

 

 

186,737

 

1.3%

Distributors

 

 

58,455

 

 

—

 

 

—

 

 

—

 

 

—

 

 

58,455

 

0.4%

Diversified Consumer Services

 

 

1,162,031

 

 

—

 

 

—

 

 

—

 

 

—

 

 

1,162,031

 

8.0%

Diversified REITs

 

 

36,812

 

 

—

 

 

—

 

 

—

 

 

—

 

 

36,812

 

0.3%

Diversified Telecommunication Services

 

 

286,300

 

 

—

 

 

4,372

 

 

—

 

 

—

 

 

290,672

 

2.0%

Electric Utilities

 

 

191,790

 

 

—

 

 

—

 

 

—

 

 

—

 

 

191,790

 

1.3%

Electrical Equipment

 

 

24,951

 

 

—

 

 

—

 

 

—

 

 

—

 

 

24,951

 

0.2%

Electronic Equipment, Instruments & Components

 

 

39,277

 

 

—

 

 

—

 

 

—

 

 

—

 

 

39,277

 

0.3%

Energy Equipment & Services

 

 

62,923

 

 

—

 

 

—

 

 

—

 

 

—

 

 

62,923

 

0.4%

Entertainment

 

 

206,577

 

 

—

 

 

—

 

 

—

 

 

—

 

 

206,577

 

1.4%

Financial Services

 

 

1,541,192

 

 

—

 

 

—

 

 

6,901

 

 

—

 

 

1,548,093

 

10.7%

Food Products

 

 

39,638

 

 

—

 

 

—

 

 

—

 

 

132

 

 

39,770

 

0.3%

Ground Transportation

 

 

120,220

 

 

—

 

 

—

 

 

2,389

 

 

—

 

 

122,609

 

0.8%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Industry

 

First Lien - Secured Debt

 

Second Lien - Secured Debt

 

Unsecured Debt

 

Preferred Equity

 

Common Equity

 

Total

 

% of Net Assets

Health Care Equipment & Supplies

 

 $

233,013

 

 $

—

 

 $

—

 

 $

—

 

 $

—

 

 $

233,013

 

1.6%

Health Care Providers & Services

 

 

1,827,746

 

 

—

 

 

—

 

 

—

 

 

—

 

 

1,827,746

 

12.7%

Health Care Technology

 

 

764,557

 

 

—

 

 

—

 

 

—

 

 

—

 

 

764,557

 

5.3%

Hotels, Restaurants & Leisure

 

 

1,397,665

 

 

—

 

 

24,065

 

 

—

 

 

3,657

 

 

1,425,387

 

9.9%

Household Durables

 

 

215,076

 

 

—

 

 

—

 

 

—

 

 

—

 

 

215,076

 

1.5%

Household Products

 

 

107,590

 

 

—

 

 

—

 

 

—

 

 

128

 

 

107,718

 

0.7%

Independent Power & Renewable Electricity Producers

 

 

13,297

 

 

—

 

 

—

 

 

—

 

 

—

 

 

13,297

 

0.1%

Industrial Conglomerates

 

 

—

 

 

—

 

 

—

 

 

—

 

 

138

 

 

138

 

0.0%

Insurance

 

 

950,761

 

 

—

 

 

—

 

 

49

 

 

—

 

 

950,810

 

6.6%

Interactive Media & Services

 

 

270,450

 

 

—

 

 

—

 

 

—

 

 

—

 

 

270,450

 

1.9%

IT Services

 

 

296,700

 

 

—

 

 

—

 

 

—

 

 

43

 

 

296,743

 

2.1%

Leisure Products

 

 

181,934

 

 

—

 

 

—

 

 

—

 

 

—

 

 

181,934

 

1.3%

Life Sciences Tools & Services

 

 

383,093

 

 

—

 

 

—

 

 

—

 

 

—

 

 

383,093

 

2.7%

Machinery

 

 

413,375

 

 

—

 

 

—

 

 

—

 

 

—

 

 

413,375

 

2.9%

Media

 

 

756,624

 

 

—

 

 

—

 

 

—

 

 

—

 

 

756,624

 

5.2%

Multi-Utilities

 

 

21,815

 

 

—

 

 

—

 

 

—

 

 

—

 

 

21,815

 

0.2%

Oil, Gas & Consumable Fuels

 

 

173,289

 

 

—

 

 

—

 

 

—

 

 

—

 

 

173,289

 

1.2%

Paper & Forest Products

 

 

20,498

 

 

—

 

 

—

 

 

1,407

 

 

—

 

 

21,905

 

0.2%

Personal Care Products

 

 

544,205

 

 

—

 

 

—

 

 

—

 

 

—

 

 

544,205

 

3.8%

Pharmaceuticals

 

 

663,029

 

 

—

 

 

—

 

 

181

 

 

195

 

 

663,405

 

4.6%

Professional Services

 

 

1,353,669

 

 

—

 

 

—

 

 

—

 

 

—

 

 

1,353,669

 

9.4%

Real Estate Management & Development

 

 

98,407

 

 

—

 

 

—

 

 

—

 

 

—

 

 

98,407

 

0.7%

Semiconductors & Semiconductor Equipment

 

 

25,000

 

 

—

 

 

—

 

 

—

 

 

—

 

 

25,000

 

0.2%

Software

 

 

3,094,569

 

 

—

 

 

—

 

 

—

 

 

—

 

 

3,094,569

 

21.3%

Specialty Retail

 

 

331,375

 

 

—

 

 

—

 

 

—

 

 

—

 

 

331,375

 

2.2%

Technology Hardware, Storage & Peripherals

 

 

782,947

 

 

—

 

 

—

 

 

—

 

 

56,144

 

 

839,091

 

5.7%

Textiles, Apparel & Luxury Goods

 

 

369,654

 

 

—

 

 

—

 

 

—

 

 

—

 

 

369,654

 

2.5%

Trading Companies & Distributors

 

 

266,488

 

 

—

 

 

—

 

 

—

 

 

187

 

 

266,675

 

1.7%

Transportation Infrastructure

 

 

328,768

 

 

—

 

 

—

 

 

—

 

 

—

 

 

328,768

 

2.2%

Wireless Telecommunication Services

 

 

94,527

 

 

—

 

 

—

 

 

—

 

 

—

 

 

94,527

 

0.6%

Total

 

 $

25,007,924

 

 $

5,398

 

 $

63,637

 

 $

10,976

 

 $

61,148

 

 $

25,149,083

 

174.0%

% of Net Assets

 

 

173.1%

 

 

0.0%

 

 

0.4%

 

 

0.1%

 

 

0.4%

 

 

174.0%

 

 

 

 

Industry Classification

 

Percentage of Total Investments (at Fair Value) as of March 31, 2026

Software

 

12.3%

Health Care Providers & Services

 

7.3%

Financial Services

 

6.2%

Commercial Services & Supplies

 

5.7%

Hotels, Restaurants & Leisure

 

5.7%

Professional Services

 

5.4%

Diversified Consumer Services

 

4.6%

Insurance

 

3.8%

Aerospace & Defense

 

3.7%

Technology Hardware, Storage & Peripherals

 

3.3%

Health Care Technology

 

3.0%

Media

 

3.0%

Pharmaceuticals

 

2.6%

Consumer Staples Distribution & Retail

 

2.5%

Building Products

 

2.4%

Personal Care Products

 

2.2%

Machinery

 

1.6%

Construction & Engineering

 

1.6%

Life Sciences Tools & Services

 

1.5%

Textiles, Apparel & Luxury Goods

 

1.5%

Capital Markets

 

1.4%

Specialty Retail

 

1.3%

Transportation Infrastructure

 

1.3%

IT Services

 

1.2%

Diversified Telecommunication Services

 

1.2%

Interactive Media & Services

 

1.1%

Trading Companies & Distributors

 

1.1%

Automobile Components

 

1.0%

Health Care Equipment & Supplies

 

0.9%

 

 

 

 

 

 

Industry Classification

 

Percentage of Total Investments (at Fair Value) as of March 31, 2026

Household Durables

 

0.9%

Entertainment

 

0.8%

Electric Utilities

 

0.8%

Containers & Packaging

 

0.7%

Leisure Products

 

0.7%

Oil, Gas & Consumable Fuels

 

0.7%

Air Freight & Logistics

 

0.6%

Chemicals

 

0.6%

Ground Transportation

 

0.5%

Household Products

 

0.4%

Banks

 

0.4%

Real Estate Management & Development

 

0.4%

Wireless Telecommunication Services

 

0.4%

Energy Equipment & Services

 

0.3%

Distributors

 

0.2%

Beverages

 

0.2%

Food Products

 

0.1%

Electronic Equipment, Instruments & Components

 

0.1%

Diversified REITs

 

0.1%

Construction Materials

 

0.1%

Semiconductors & Semiconductor Equipment

 

0.1%

Electrical Equipment

 

0.1%

Paper & Forest Products

 

0.1%

Multi-Utilities

 

0.1%

Communications Equipment

 

0.1%

Independent Power & Renewable Electricity Producers

 

0.1%

Industrial Conglomerates

 

0.0%

Total

 

100.0%

 

 

Geographic Region

 

Percentage of Total Investments (at Fair Value) as of March 31, 2026

United States

 

75.9%

Europe

 

11.4%

United Kingdom

 

9.9%

Australia

 

1.5%

Canada

 

0.6%

Asia

 

0.4%

Caribbean

 

0.3%
[5] Unless otherwise indicated, all investments are non-controlled, non-affiliated investments. Non-controlled, non-affiliated investments are defined as investments in which the Company owns less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company. As of March 31, 2026, all of the Company's investments were non-controlled and non-affiliated.
[6] Aggregate gross unrealized gain and loss for federal income tax purposes are $337,333 and $(237,835), respectively. Net unrealized loss is $99,498 based on a total tax cost of $24,416,132.
[7] All debt investments are income producing unless otherwise indicated. All equity investments are non-income producing unless otherwise noted.
[8] Fair value is determined in good faith by or under the direction of the Board of Trustees of the Company (the "Board") (see Note 2 to the consolidated financial statements).
[9] The following shows the composition of the Company’s portfolio at fair value by investment type, industry and region as of December 31, 2025:

Industry

 

First Lien - Secured Debt

 

Second Lien - Secured Debt

 

Unsecured Debt

 

Preferred Equity

 

Common Equity

 

Total

 

% of Net Assets

Aerospace & Defense

 

 $

780,305

 

 $

—

 

 $

—

 

 $

—

 

 $

—

 

 $

780,305

 

5.3%

Air Freight & Logistics

 

 

14,888

 

 

—

 

 

—

 

 

—

 

 

—

 

 

14,888

 

0.1%

Automobile Components

 

 

265,223

 

 

—

 

 

—

 

 

—

 

 

—

 

 

265,223

 

1.8%

Banks

 

 

235,975

 

 

—

 

 

35,077

 

 

—

 

 

—

 

 

271,052

 

1.8%

Beverages

 

 

40,027

 

 

—

 

 

—

 

 

—

 

 

—

 

 

40,027

 

0.3%

Building Products

 

 

516,956

 

 

—

 

 

—

 

 

—

 

 

—

 

 

516,956

 

3.5%

Capital Markets

 

 

474,987

 

 

—

 

 

—

 

 

—

 

 

—

 

 

474,987

 

3.2%

Chemicals

 

 

149,200

 

 

—

 

 

—

 

 

—

 

 

126

 

 

149,326

 

1.0%

Commercial Services & Supplies

 

 

1,455,724

 

 

5,235

 

 

—

 

 

49

 

 

28

 

 

1,461,036

 

9.9%

Communications Equipment

 

 

268,612

 

 

—

 

 

—

 

 

—

 

 

1,193

 

 

269,805

 

1.8%

Construction & Engineering

 

 

329,697

 

 

—

 

 

—

 

 

—

 

 

138

 

 

329,835

 

2.2%

Construction Materials

 

 

25,075

 

 

—

 

 

—

 

 

—

 

 

—

 

 

25,075

 

0.2%

Consumer Staples Distribution & Retail

 

 

460,169

 

 

—

 

 

—

 

 

—

 

 

—

 

 

460,169

 

3.1%

Containers & Packaging

 

 

175,687

 

 

—

 

 

—

 

 

—

 

 

—

 

 

175,687

 

1.2%

Distributors

 

 

59,451

 

 

—

 

 

—

 

 

—

 

 

—

 

 

59,451

 

0.4%

Diversified Consumer Services

 

 

1,021,121

 

 

—

 

 

—

 

 

—

 

 

—

 

 

1,021,121

 

6.9%

Diversified REITs

 

 

30,672

 

 

—

 

 

—

 

 

—

 

 

—

 

 

30,672

 

0.2%

Diversified Telecommunication Services

 

 

295,215

 

 

—

 

 

—

 

 

—

 

 

—

 

 

295,215

 

2.0%

Electric Utilities

 

 

201,273

 

 

—

 

 

—

 

 

—

 

 

—

 

 

201,273

 

1.4%

Electrical Equipment

 

 

25,850

 

 

—

 

 

—

 

 

—

 

 

—

 

 

25,850

 

0.2%

Electronic Equipment, Instruments & Components

 

 

67,037

 

 

—

 

 

—

 

 

—

 

 

—

 

 

67,037

 

0.5%

Energy Equipment & Services

 

 

47,251

 

 

—

 

 

—

 

 

—

 

 

—

 

 

47,251

 

0.3%

Entertainment

 

 

192,589

 

 

—

 

 

—

 

 

—

 

 

—

 

 

192,589

 

1.3%

Financial Services

 

 

1,683,766

 

 

—

 

 

—

 

 

7,115

 

 

—

 

 

1,690,881

 

11.4%

Food Products

 

 

40,208

 

 

—

 

 

—

 

 

—

 

 

92

 

 

40,300

 

0.3%

Gas Utilities

 

 

30,313

 

 

—

 

 

—

 

 

—

 

 

—

 

 

30,313

 

0.2%

Ground Transportation

 

 

153,962

 

 

—

 

 

—

 

 

—

 

 

—

 

 

153,962

 

1.0%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Industry

 

First Lien - Secured Debt

 

Second Lien - Secured Debt

 

Unsecured Debt

 

Preferred Equity

 

Common Equity

 

Total

 

% of Net Assets

Health Care Equipment & Supplies

 

 $

263,925

 

 $

—

 

 $

—

 

 $

—

 

 $

—

 

 $

263,925

 

1.8%

Health Care Providers & Services

 

 

1,732,905

 

 

—

 

 

—

 

 

—

 

 

—

 

 

1,732,905

 

11.7%

Health Care Technology

 

 

587,582

 

 

—

 

 

—

 

 

—

 

 

—

 

 

587,582

 

4.0%

Hotels, Restaurants & Leisure

 

 

1,008,465

 

 

—

 

 

10,418

 

 

—

 

 

—

 

 

1,018,883

 

6.9%

Household Durables

 

 

201,715

 

 

—

 

 

—

 

 

—

 

 

—

 

 

201,715

 

1.4%

Household Products

 

 

107,885

 

 

—

 

 

—

 

 

—

 

 

119

 

 

108,004

 

0.7%

Independent Power & Renewable Electricity Producers

 

 

28,707

 

 

—

 

 

30

 

 

—

 

 

—

 

 

28,737

 

0.2%

Industrial Conglomerates

 

 

—

 

 

—

 

 

—

 

 

—

 

 

112

 

 

112

 

0.0%

Insurance

 

 

1,111,724

 

 

—

 

 

—

 

 

49

 

 

—

 

 

1,111,773

 

7.5%

Interactive Media & Services

 

 

335,382

 

 

—

 

 

—

 

 

—

 

 

—

 

 

335,382

 

2.3%

IT Services

 

 

305,013

 

 

—

 

 

—

 

 

—

 

 

48

 

 

305,061

 

2.1%

Leisure Products

 

 

184,484

 

 

—

 

 

—

 

 

—

 

 

—

 

 

184,484

 

1.2%

Life Sciences Tools & Services

 

 

375,184

 

 

—

 

 

—

 

 

—

 

 

—

 

 

375,184

 

2.5%

Machinery

 

 

429,693

 

 

—

 

 

—

 

 

—

 

 

—

 

 

429,693

 

2.9%

Media

 

 

887,940

 

 

—

 

 

—

 

 

—

 

 

—

 

 

887,940

 

6.0%

Multi-Utilities

 

 

25,530

 

 

—

 

 

—

 

 

—

 

 

—

 

 

25,530

 

0.2%

Oil, Gas & Consumable Fuels

 

 

126,151

 

 

—

 

 

—

 

 

—

 

 

—

 

 

126,151

 

0.9%

Paper & Forest Products

 

 

22,472

 

 

—

 

 

—

 

 

—

 

 

—

 

 

22,472

 

0.2%

Personal Care Products

 

 

551,171

 

 

—

 

 

—

 

 

—

 

 

—

 

 

551,171

 

3.7%

Pharmaceuticals

 

 

560,191

 

 

—

 

 

—

 

 

180

 

 

228

 

 

560,599

 

3.8%

Professional Services

 

 

1,119,483

 

 

—

 

 

—

 

 

—

 

 

—

 

 

1,119,483

 

7.6%

Real Estate Management & Development

 

 

66,160

 

 

—

 

 

—

 

 

—

 

 

—

 

 

66,160

 

0.4%

Semiconductors & Semiconductor Equipment

 

 

25,000

 

 

—

 

 

—

 

 

—

 

 

—

 

 

25,000

 

0.2%

Software

 

 

3,322,016

 

 

—

 

 

—

 

 

—

 

 

—

 

 

3,322,016

 

22.5%

Specialty Retail

 

 

434,273

 

 

—

 

 

—

 

 

—

 

 

—

 

 

434,273

 

2.9%

Technology Hardware, Storage & Peripherals

 

 

470,999

 

 

—

 

 

—

 

 

—

 

 

13,749

 

 

484,748

 

3.3%

Textiles, Apparel & Luxury Goods

 

 

375,679

 

 

—

 

 

—

 

 

—

 

 

—

 

 

375,679

 

2.5%

Trading Companies & Distributors

 

 

192,184

 

 

—

 

 

—

 

 

—

 

 

160

 

 

192,344

 

1.3%

Transportation Infrastructure

 

 

453,571

 

 

—

 

 

—

 

 

—

 

 

—

 

 

453,571

 

3.1%

Wireless Telecommunication Services

 

 

94,765

 

 

—

 

 

—

 

 

—

 

 

—

 

 

94,765

 

0.7%

Total

 

 $

24,441,482

 

 $

5,235

 

 $

45,525

 

 $

7,393

 

 $

15,993

 

 $

24,515,628

 

166.0%

% of Net Assets

 

 

165.5%

 

 

0.0%

 

 

0.3%

 

 

0.1%

 

 

0.1%

 

 

166.0%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Industry Classification

 

Percentage of Total Investments (at Fair Value) as of December 31, 2025

Software

 

13.6%

Health Care Providers & Services

 

7.1%

Financial Services

 

6.9%

Commercial Services & Supplies

 

6.0%

Insurance

 

4.5%

Hotels, Restaurants & Leisure

 

4.2%

Professional Services

 

4.6%

Diversified Consumer Services

 

4.2%

Aerospace & Defense

 

3.2%

Entertainment

 

0.8%

Health Care Technology

 

2.4%

Pharmaceuticals

 

2.3%

Personal Care Products

 

2.2%

Technology Hardware, Storage & Peripherals

 

2.0%

Building Products

 

2.1%

Capital Markets

 

1.9%

Media

 

3.6%

Consumer Staples Distribution & Retail

 

1.9%

Specialty Retail

 

1.8%

Transportation Infrastructure

 

1.9%

Machinery

 

1.8%

Textiles, Apparel & Luxury Goods

 

1.5%

Life Sciences Tools & Services

 

1.5%

Banks

 

1.1%

Interactive Media & Services

 

1.4%

Construction & Engineering

 

1.3%

IT Services

 

1.2%

Diversified Telecommunication Services

 

1.2%

Communications Equipment

 

1.1%

 

 

 

 

 

 

Industry Classification

 

Percentage of Total Investments (at Fair Value) as of December 31, 2025

Automobile Components

 

1.1%

Health Care Equipment & Supplies

 

1.1%

Household Durables

 

0.8%

Trading Companies & Distributors

 

0.8%

Electric Utilities

 

0.8%

Leisure Products

 

0.8%

Containers & Packaging

 

0.7%

Ground Transportation

 

0.6%

Chemicals

 

0.6%

Household Products

 

0.4%

Oil, Gas & Consumable Fuels

 

0.5%

Wireless Telecommunication Services

 

0.4%

Electronic Equipment, Instruments & Components

 

0.3%

Real Estate Management & Development

 

0.3%

Distributors

 

0.2%

Energy Equipment & Services

 

0.2%

Diversified REITs

 

0.1%

Food Products

 

0.2%

Beverages

 

0.0%

Gas Utilities

 

0.1%

Independent Power & Renewable Electricity Producers

 

0.1%

Electrical Equipment

 

0.1%

Multi-Utilities

 

0.1%

Construction Materials

 

0.1%

Semiconductors & Semiconductor Equipment

 

0.1%

Paper & Forest Products

 

0.1%

Air Freight & Logistics

 

0.1%

Industrial Conglomerates

 

0.0%

Total

 

100.00%

 

 

 

 

 

 

 

 

Geographic Region

 

Percentage of Total Investments (at Fair Value) as of December 31, 2025

United States

 

78.2%

United Kingdom

 

9.7%

Europe

 

9.4%

Australia

 

1.3%

Canada

 

0.8%

Asia

 

0.4%

Caribbean

 

0.2%
[10] Unless otherwise indicated, all investments are non-controlled, non-affiliated investments. Non-controlled, non-affiliated investments are defined as investments in which the Company owns less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company. As of December 31, 2025, all of the Company's investments were non-controlled and non-affiliated.