| Schedule of Investment Portfolio at Amortized Cost and Fair Value |
The following table presents the composition of the Company’s investment portfolio at amortized cost and fair value as of June 30, 2026 and December 31, 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2026 |
|
|
December 31, 2025 |
|
|
|
Amortized Cost |
|
|
Fair Value |
|
|
Amortized Cost |
|
|
Fair Value |
|
First-lien senior secured debt |
|
$ |
1,073,909,041 |
|
|
$ |
971,550,785 |
|
|
$ |
1,088,644,221 |
|
|
$ |
1,014,924,713 |
|
Second-lien senior secured debt |
|
|
76,247,736 |
|
|
|
59,085,127 |
|
|
|
72,146,972 |
|
|
|
59,868,971 |
|
Corporate Bonds |
|
|
8,378,433 |
|
|
|
7,167,689 |
|
|
|
8,892,453 |
|
|
|
7,929,631 |
|
CLO Mezzanine |
|
|
26,467,532 |
|
|
|
24,259,370 |
|
|
|
34,863,998 |
|
|
|
34,300,352 |
|
CLO Equity |
|
|
6,821,335 |
|
|
|
3,966,693 |
|
|
|
8,326,282 |
|
|
|
6,087,607 |
|
Equity |
|
|
10,453,997 |
|
|
|
7,471,097 |
|
|
|
8,965,875 |
|
|
|
7,812,775 |
|
Short-term investments |
|
|
39,876,479 |
|
|
|
39,876,479 |
|
|
|
72,716,269 |
|
|
|
72,716,269 |
|
Total Investments |
|
$ |
1,242,154,553 |
|
|
$ |
1,113,377,240 |
|
|
$ |
1,294,556,070 |
|
|
$ |
1,203,640,318 |
|
|
| Schedule of Percentage of Total Investments at Fair Value |
The industry composition of investments based on fair value, as a percentage of total investments at fair value, as of June 30, 2026 and December 31, 2025 was as follows:
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|
|
|
|
|
|
|
|
|
June 30, 2026 |
|
|
December 31, 2025 |
|
Software |
|
|
10.9 |
% |
|
|
10.7 |
% |
Professional Services |
|
|
8.7 |
% |
|
|
7.3 |
% |
Healthcare Providers and Services |
|
|
8.6 |
% |
|
|
8.8 |
% |
Diversified Financial Services |
|
|
5.9 |
% |
|
|
5.0 |
% |
Chemicals |
|
|
5.6 |
% |
|
|
5.4 |
% |
Construction and Engineering |
|
|
5.4 |
% |
|
|
5.0 |
% |
IT Services |
|
|
5.4 |
% |
|
|
9.6 |
% |
Electronic Equipment, Instruments and Components |
|
|
4.2 |
% |
|
|
3.3 |
% |
Media |
|
|
3.6 |
% |
|
|
1.6 |
% |
Commercial Services and Supplies |
|
|
3.6 |
% |
|
|
2.0 |
% |
Short-Term Investments |
|
|
3.6 |
% |
|
|
6.0 |
% |
Insurance |
|
|
3.0 |
% |
|
|
3.5 |
% |
Containers and Packaging |
|
|
2.5 |
% |
|
|
2.2 |
% |
Hotels, Restaurants and Leisure |
|
|
2.3 |
% |
|
|
2.2 |
% |
Structured Note |
|
|
2.2 |
% |
|
|
2.8 |
% |
Food Products |
|
|
1.9 |
% |
|
|
2.5 |
% |
Building Products |
|
|
1.8 |
% |
|
|
1.8 |
% |
Aerospace and Defense |
|
|
1.5 |
% |
|
|
1.1 |
% |
Auto Components |
|
|
1.5 |
% |
|
|
1.6 |
% |
Healthcare Technology |
|
|
1.5 |
% |
|
|
0.6 |
% |
Metals and Mining |
|
|
1.4 |
% |
|
|
1.3 |
% |
Interactive Media Services |
|
|
1.3 |
% |
|
|
1.3 |
% |
Household Durables |
|
|
1.2 |
% |
|
|
1.2 |
% |
Healthcare Equipment and Supplies |
|
|
1.1 |
% |
|
|
0.7 |
% |
Pharmaceuticals |
|
|
0.9 |
% |
|
|
0.7 |
% |
Machinery |
|
|
0.9 |
% |
|
|
1.8 |
% |
Real Estate Management and Development |
|
|
0.8 |
% |
|
|
0.6 |
% |
Specialty Retail |
|
|
0.8 |
% |
|
|
1.1 |
% |
Road and Rail |
|
|
0.8 |
% |
|
|
0.7 |
% |
Entertainment |
|
|
0.7 |
% |
|
|
0.2 |
% |
Industrial Conglomerates |
|
|
0.7 |
% |
|
|
0.7 |
% |
Diversified Consumer Services |
|
|
0.7 |
% |
|
|
1.1 |
% |
Diversified Telecommunication Services |
|
|
0.7 |
% |
|
|
0.7 |
% |
Energy Equipment and Services |
|
|
0.6 |
% |
|
|
0.9 |
% |
Trading Companies and Distributors |
|
|
0.6 |
% |
|
|
— |
|
Textiles, Apparel & Luxury Goods |
|
|
0.5 |
% |
|
|
0.6 |
% |
Ground Transportation |
|
|
0.4 |
% |
|
|
— |
|
Restaurants |
|
|
0.4 |
% |
|
|
0.3 |
% |
Automotive |
|
|
0.4 |
% |
|
|
0.3 |
% |
Structured Subordinated Note |
|
|
0.4 |
% |
|
|
0.5 |
% |
Construction Materials |
|
|
0.3 |
% |
|
|
0.3 |
% |
Household Products |
|
|
0.3 |
% |
|
|
0.3 |
% |
Semiconductors and Semiconductor Equipment |
|
|
0.2 |
% |
|
|
— |
|
Technology Hardware, Storage & Peripherals |
|
|
0.1 |
% |
|
|
— |
|
Oil, Gas & Consumable Fuels |
|
|
0.1 |
% |
|
|
— |
|
Independent Power and Renewable Electricity Producers |
|
|
— |
|
|
|
1.2 |
% |
Electrical Equipment |
|
|
— |
|
|
|
0.5 |
% |
Total |
|
|
100 |
% |
|
|
100 |
% |
|
|
|
|
|
|
|
|