v3.26.1
Investments (Tables)
 12 Months Ended
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedules of Portfolio Composition at Amortization Cost and Fair Value
Investments as of September 30, 2025 and 2024 consisted of the following:
As of September 30, 2025As of September 30, 2024
  PrincipalAmortized
Cost		Fair
Value		PrincipalAmortized
Cost		Fair
Value
Senior secured$77,389 $76,691 $77,408 $39,377 $38,960 $39,358 
One stop2,069,014 2,037,002 2,063,173 1,254,102 1,232,741 1,250,206 
Second lien12,674 12,600 12,722 4,446 4,373 4,446 
Subordinated debt20,908 20,615 20,741 929 897 921 
EquityN/A29,539 35,130 N/A14,541 16,070 
Total$2,179,985 $2,176,447 $2,209,174 $1,298,854 $1,291,512 $1,311,001 
The following tables show the portfolio composition by geographic region at amortized cost and fair value as a percentage of total investments in portfolio companies. The geographic composition is determined by the location of the corporate headquarters of the portfolio company, which is not always indicative of the primary source of the portfolio company’s business.
As of September 30, 2025As of September 30, 2024
Amortized Cost:    
United States  
Southeast$445,901 20.5 %$205,574 15.9 %
Midwest395,386 18.2 260,483 20.2 
West369,906 17.0 256,337 19.8 
Mid-Atlantic285,602 13.1 199,479 15.4 
Southwest255,497 11.7 149,845 11.6 
Northeast144,153 6.6 130,402 10.1 
United Kingdom140,614 6.5 40,106 3.1 
Germany53,904 2.5 39,463 3.1 
Australia25,160 1.2 — — 
Jersey20,433 1.0 — — 
Canada20,172 0.9 — — 
Finland6,987 0.3 — — 
Sweden5,264 0.2 4,919 0.4 
Netherlands4,250 0.2 1,256 0.1 
France2,281 0.1 2,013 0.2 
Denmark544 0.0 *541 0.0 *
Luxembourg312 0.0 *1,013 0.1 
Israel81 0.0 *81 0.0 *
Total$2,176,447 100.0 %$1,291,512 100.0 %
Fair Value:      
United States  
Southeast$449,900 20.4 %$207,853 15.8 %
Midwest401,851 18.2 264,441 20.2 
West374,368 16.9 260,330 19.9 
Mid-Atlantic288,569 13.1 201,474 15.4 
Southwest258,152 11.7 151,420 11.5 
Northeast145,343 6.6 132,136 10.1 
United Kingdom143,807 6.5 42,123 3.2 
Germany58,632 2.7 41,091 3.1 
Australia25,855 1.2 — — 
Jersey21,123 1.0 — — 
Canada20,437 0.9 — — 
Finland7,561 0.3 — — 
Sweden5,459 0.2 5,064 0.4 
Netherlands4,621 0.2 1,321 0.1 
France2,497 0.1 2,072 0.2 
Denmark545 0.0 *554 0.0 *
Luxembourg331 0.0 *1,016 0.1 
Israel123 0.0 *106 0.0 *
Total$2,209,174 100.0 %$1,311,001 100.0 %
* Represents an amount less than 0.1%
The industry compositions of the portfolio at amortized cost and fair value as a percentage of total investments in portfolio companies as of September 30, 2025 and 2024 were as follows:
As of September 30, 2025As of September 30, 2024
Amortized Cost:  
Aerospace & Defense$24,586 1.1 %$15,571 1.2 %
Air Freight & Logistics22,726 1.0 — — 
Auto Components36,496 1.7 28,337 2.2 
Automobiles98,937 4.6 72,232 5.6 
Banks9,356 0.4 4,562 0.3 
Beverages25,503 1.2 18,059 1.4 
Building Products677 0.0 *— — 
Capital Markets22,977 1.1 14,032 1.1 
Chemicals6,453 0.3 921 0.1 
Commercial Services & Supplies95,995 4.4 86,126 6.7 
Construction & Engineering17,379 0.8 9,906 0.8 
Containers & Packaging1,715 0.1 — — 
Diversified Consumer Services148,679 6.8 100,926 7.8 
Diversified Financial Services62,615 2.9 22,989 1.8 
Electric Utilities1,903 0.1 — — 
Electrical Equipment7,028 0.3 691 0.0 *
Electronic Equipment, Instruments & Components5,184 0.2 5,186 0.4 
Food Products32,759 1.5 20,253 1.6 
Healthcare Equipment & Supplies51,101 2.3 25,421 2.0 
Healthcare Providers & Services106,401 4.9 35,048 2.7 
Healthcare Technology108,643 5.0 41,038 3.2 
Hotels, Restaurants & Leisure127,364 5.9 52,188 4.0 
Household Products2,728 0.1 — — 
Industrial Conglomerates28,527 1.3 11,492 0.9 
Insurance117,345 5.4 73,366 5.7 
IT Services44,242 2.0 40,822 3.2 
Leisure Products36,537 1.7 22,166 1.7 
Life Sciences Tools & Services23,565 1.1 18,343 1.4 
Machinery31,475 1.4 27,540 2.1 
Media14,869 0.7 7,068 0.5 
Oil, Gas & Consumable Fuels25,311 1.2 15,849 1.2 
Pharmaceuticals21,811 1.0 1,013 0.1 
Professional Services79,954 3.7 25,099 1.9 
Road & Rail13,840 0.6 — — 
Software577,485 26.5 375,250 29.1 
Specialty Retail126,438 5.8 118,440 9.2 
Transportation Infrastructure16,060 0.8 — — 
Water Utilities1,783 0.1 1,578 0.1 
Total$2,176,447 100.0 %$1,291,512 100.0 %
* Represents an amount less than 0.1%
As of September 30, 2025As of September 30, 2024
Fair Value:    
Aerospace & Defense$24,652 1.1 %$16,069 1.2 %
Air Freight & Logistics23,033 1.0 — — 
Auto Components36,957 1.7 28,779 2.2 
Automobiles101,466 4.6 73,044 5.6 
Banks9,456 0.4 4,650 0.3 
Beverages26,202 1.2 18,388 1.4 
Building Products693 — — 0.0 
Capital Markets23,193 1.1 14,200 1.1 
Chemicals6,475 0.3 921 0.1 
Commercial Services & Supplies96,815 4.4 87,416 6.7 
Construction & Engineering17,502 0.8 10,008 0.8 
Containers & Packaging1,718 0.1 — — 
Diversified Consumer Services150,189 6.8 102,710 7.8 
Diversified Financial Services63,719 2.9 23,412 1.8 
Electric Utilities1,997 0.1 — — 
Electrical Equipment7,157 0.3 706 0.1 
Electronic Equipment, Instruments & Components5,345 0.2 5,400 0.4 
Food Products33,072 1.5 20,498 1.6 
Healthcare Equipment & Supplies51,329 2.3 25,691 2.0 
Healthcare Providers & Services108,172 4.9 35,903 2.7 
Healthcare Technology109,991 5.0 41,653 3.2 
Hotels, Restaurants & Leisure128,251 5.8 52,662 4.0 
Household Products2,744 0.1 — — 
Industrial Conglomerates30,631 1.4 11,447 0.9 
Insurance119,150 5.4 74,631 5.7 
IT Services44,632 2.0 41,300 3.2 
Leisure Products36,536 1.7 22,246 1.7 
Life Sciences Tools & Services24,992 1.1 18,972 1.4 
Machinery31,741 1.4 27,815 2.1 
Media14,886 0.7 7,154 0.5 
Oil, Gas & Consumable Fuels25,498 1.2 16,081 1.2 
Pharmaceuticals22,245 1.0 1,016 0.1 
Professional Services80,355 3.7 25,225 1.9 
Road & Rail13,930 0.6 — — 
Software590,302 26.7 382,061 29.1 
Specialty Retail126,384 5.7 119,368 9.1 
Transportation Infrastructure15,965 0.7 — — 
Water Utilities1,799 0.1 1,575 0.1 
Total$2,209,174 100.0 %$1,311,001 100.0 %