v3.26.1
Investments
 6 Months Ended
Jun. 30, 2026
Schedule of Investments [Abstract]  
Investments Investments
The composition of the Company’s investment portfolio at cost and fair value was as follows:
June 30, 2026December 31, 2025
CostFair Value% of Total Investments at Fair ValueCostFair Value% of Total Investments at Fair Value
First lien debt$13,441,436 $12,944,578 96.8 %$14,066,122 $13,866,434 97.6 %
Second lien debt255,801 250,182 1.9 232,448 231,650 1.6 
Unsecured debt14,495 12,348 0.1 13,049 12,278 0.1 
Equity144,858 157,187 1.2 76,348 96,932 0.7 
Total$13,856,590 $13,364,295 100.0 %$14,387,967 $14,207,294 100.0 %
The Company utilizes the Global Industry Classification Standard for categorizing the industry classification of its investments. The industry composition of investments at fair value was as follows:
June 30, 2026December 31, 2025
Aerospace & Defense3.3 %4.1 %
Air Freight & Logistics3.3 1.9 
Automobile Components (2)
— 0.0 
Biotechnology1.2 1.1 
Building Products1.4 1.3 
Chemicals0.3 0.3 
Commercial Services & Supplies8.3 8.0 
Construction & Engineering1.2 1.2 
Consumer Staples Distribution & Retail (1)(2)
0.0 0.0 
Containers & Packaging0.2 0.2 
Distributors2.0 2.1 
Diversified Consumer Services4.4 4.2 
Diversified Telecommunication Services0.1 0.1 
Electric Utilities0.1 1.4 
Electrical Equipment1.5 1.4 
Electronic Equipment, Instruments & Components2.1 2.1 
Energy Equipment & Services0.2 0.2 
Financial Services0.6 0.4 
Ground Transportation0.1 0.1 
Health Care Equipment & Supplies0.4 0.4 
Health Care Providers & Services10.3 9.5 
Health Care Technology4.5 5.6 
Insurance10.0 9.3 
Interactive Media & Services0.7 0.3 
IT Services4.7 4.3 
Life Sciences Tools & Services0.9 0.8 
Machinery0.3 0.3 
Marine Transportation0.4 0.4 
Media0.5 0.6 
Oil, Gas & Consumable Fuels0.5 0.5 
June 30, 2026December 31, 2025
Paper & Forest Products0.1 %0.1 %
Pharmaceuticals0.7 0.4 
Professional Services10.3 9.7 
Real Estate Management & Development1.6 1.4 
Software18.9 20.5 
Specialty Retail1.4 1.3 
Technology Hardware, Storage & Peripherals0.5 0.6 
Trading Companies & Distributors0.9 0.9 
Transportation Infrastructure1.9 2.9 
Wireless Telecommunication Services0.2 0.1 
Total100.0 %100.0 %
(1)Amount rounds to less than 0.1% as of June 30, 2026.
(2)Amount rounds to less than 0.1% as of December 31, 2025.
The geographic composition of investments at cost and fair value was as follows:
June 30, 2026
CostFair Value% of Total Investments at Fair ValueFair Value as % of Net Assets
United States$11,852,013 $11,369,505 85.1 %191.4 %
Europe1,643,362 1,638,203 12.3 27.6 
Bermuda/Cayman Islands147,533 148,236 1.1 2.5 
Canada151,622 148,126 1.1 2.5 
Australia50,075 48,048 0.3 0.8 
Asia11,985 12,177 0.1 0.2 
Total$13,856,590 $13,364,295 100.0 %225.0 %
December 31, 2025
CostFair Value% of Total Investments at Fair ValueFair Value as % of Net Assets
United States$12,488,551 $12,259,789 86.3 %196.3 %
Europe1,601,031 1,645,999 11.6 26.3 
Bermuda/Cayman Islands148,220 148,966 1.0 2.4 
Canada138,265 140,444 1.0 2.3 
Asia11,900 12,096 0.1 0.2 
Total$14,387,967 $14,207,294 100.0 %227.5 %
As of June 30, 2026 and December 31, 2025, six issuers (across eight loans) and five issuers (across eight loans) in the portfolio were on non-accrual status, respectively.
As of June 30, 2026 and December 31, 2025, on a fair value basis, 99.3% and 99.6%, respectively, of performing debt investments bore interest at a floating rate and 0.7% and 0.4%, respectively, of performing debt investments bore interest at a fixed rate.