Under the 1940 Act, the Company is required to separately identify non-controlled investments where it owns 5% or more of a portfolio company’s outstanding voting securities as investments in “affiliated” companies. In addition, under the 1940 Act, the Company is required to separately identify investments where it owns more than 25% of a portfolio company’s outstanding voting securities and/or had the power to exercise control over the management or policies of such portfolio company as investments in

“controlled” companies. Detailed information with respect to the Company’s non-controlled, non-affiliated; non-controlled, affiliated; and controlled, affiliated investments is contained in the accompanying consolidated financial statements, including the Consolidated Schedules of Investments. The information in the tables below is presented on an aggregate portfolio basis, without regard to whether they are non-controlled, non-affiliated; non-controlled, affiliated; or controlled, affiliated investments.

Investments at fair value consisted of the following at June 30, 2026 and December 31, 2025:


	June 30, 2026
	Amortized Cost (1)		Fair Value		Net Unrealized Gain (Loss)
First-lien debt investments	$	2,933,244	$	2,917,433	$	(15,811	)
Second-lien debt investments		24,499		23,685		(814	)
Mezzanine debt investments		63,784		64,620		836
Equity investments		152,232		154,793		2,561
Structured credit investments		91,243		87,769		(3,474	)
Joint venture investments		51,391		53,832		2,441
Total Investments	$	3,316,393	$	3,302,132	$	(14,261	)


	December 31, 2025
	Amortized Cost (1)		Fair Value		Net Unrealized Gain (Loss)
First-lien debt investments	$	2,934,162	$	2,984,501	$	50,339
Second-lien debt investments		69,631		30,678		(38,953	)
Mezzanine debt investments		61,150		61,684		534
Equity investments		159,782		172,582		12,800
Structured credit investments		98,557		97,872		(685	)
Total Investments	$	3,323,282	$	3,347,317	$	24,035

(1)

The amortized cost represents the original cost adjusted for the amortization of discounts or premiums, as applicable, on debt investments using the effective interest method.

The industry composition of investments at fair value at June 30, 2026 and December 31, 2025 is as follows:


	June 30, 2026			December 31, 2025
Business Services		11.3	%		13.4	%
Chemicals		1.2	%		1.2	%
Communications		1.2	%		1.5	%
Education		3.2	%		3.1	%
Electronics		0.8	%		0.8	%
Financial Services		1.9	%		3.5	%
Healthcare		8.1	%		9.0	%
Hotel, Gaming and Leisure		8.9	%		8.0	%
Human Resource Support Services		7.9	%		9.0	%
Internet Services		19.0	%		18.3	%
Manufacturing		2.4	%		1.2	%
Marketing Services		0.3	%		0.3	%
Office Products		0.3	%		0.3	%
Oil, Gas and Consumable Fuels		3.1	%		2.8	%
Other (1)		6.8	%		5.3	%
Pharmaceuticals		2.9	%		2.7	%
Real Estate (2)		0.0	%		0.0	%
Retail and Consumer Products		12.7	%		11.6	%
Transportation		8.0	%		8.0	%
Total		100.0	%		100.0	%

(1)

Includes structured credit and joint venture investments.

(2)

Value sums to less than 0.1%.

The geographic composition of investments at fair value at June 30, 2026 and December 31, 2025 is as follows:


	June 30, 2026			December 31, 2025
United States
Midwest		12.1	%		12.5	%
Northeast		16.8	%		18.6	%
South		24.8	%		23.2	%
West		27.7	%		29.8	%
Australia		0.1	%		0.2	%
Canada		3.2	%		1.5	%
Finland (1)		0.0	%		0.0	%
France		1.7	%		1.6	%
Germany		3.5	%		3.5	%
Italy		0.6	%		0.6	%
Netherlands		0.4	%		0.4	%
Norway		3.3	%		3.3	%
Sweden		1.0	%		0.8	%
United Kingdom		4.8	%		4.0	%
Total		100.0	%		100.0	%

(1)

Value sums to less than 0.1%.