| INVESTMENTS |
The information in the tables below is presented on an aggregate portfolio basis, without regard to whether the investments are non-controlled, non-affiliated; non-controlled, affiliated; or controlled, affiliated investments. 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 composition of the Company’s investment portfolio was as follows:
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June 30, 2026 |
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December 31, 2025 |
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Cost |
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Fair Value |
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% of Total
Investments
at Fair
Value |
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Cost |
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Fair Value |
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% of Total
Investments
at Fair
Value |
|
First Lien Debt |
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$ |
602,048 |
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$ |
595,777 |
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99.6 |
% |
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$ |
571,796 |
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$ |
571,774 |
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99.7 |
% |
Other Debt Investments |
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764 |
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637 |
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0.1 |
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715 |
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689 |
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0.1 |
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Equity |
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1,659 |
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1,700 |
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0.3 |
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1,075 |
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1,095 |
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0.2 |
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Total |
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$ |
604,471 |
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$ |
598,114 |
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100.0 |
% |
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$ |
573,586 |
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$ |
573,558 |
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100.0 |
% |
The industry composition of investments at fair value was as follows:
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June 30, 2026 |
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December 31, 2025 |
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Aerospace & Defense |
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1.1 |
% |
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2.1 |
% |
Automobile Components |
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0.4 |
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0.6 |
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Automobiles |
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2.6 |
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3.1 |
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Banks |
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0.4 |
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0.4 |
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Beverages |
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0.4 |
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0.5 |
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Building Products |
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1.2 |
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1.3 |
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Chemicals |
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0.5 |
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0.5 |
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Commercial Services & Supplies |
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9.4 |
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9.2 |
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Construction & Engineering |
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2.0 |
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1.9 |
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Consumer Staples Distribution & Retail |
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1.0 |
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1.0 |
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Containers & Packaging |
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0.7 |
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1.0 |
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Diversified Consumer Services |
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4.5 |
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4.8 |
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Diversified Telecommunication Services |
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0.4 |
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— |
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Electrical Equipment |
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1.0 |
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1.0 |
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Electronic Equipment, Instruments & Components |
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2.0 |
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2.9 |
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Entertainment |
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0.3 |
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0.3 |
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Financial Services |
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5.4 |
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4.0 |
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Food Products |
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0.2 |
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0.3 |
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Ground Transportation |
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1.8 |
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1.8 |
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Health Care Equipment & Supplies |
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1.6 |
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1.7 |
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Health Care Providers & Services |
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6.0 |
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5.7 |
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Health Care Technology |
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0.8 |
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0.9 |
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Household Durables |
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0.2 |
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0.2 |
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Household Products |
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— |
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0.1 |
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Industrial Conglomerates |
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2.5 |
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1.5 |
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Insurance Services |
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9.3 |
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8.2 |
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Interactive Media & Services |
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0.8 |
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0.8 |
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IT Services |
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6.0 |
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6.1 |
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Leisure Products |
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0.2 |
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0.2 |
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Life Sciences Tools & Services |
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1.1 |
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1.2 |
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Machinery |
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0.6 |
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1.0 |
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Multi-Utilities |
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0.2 |
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0.7 |
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Pharmaceuticals |
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1.1 |
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1.1 |
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Professional Services |
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8.6 |
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9.0 |
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Real Estate Management & Development |
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2.4 |
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2.4 |
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Software |
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20.4 |
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19.6 |
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Specialty Retail |
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0.1 |
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0.1 |
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Textiles, Apparel & Luxury Goods |
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0.3 |
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0.3 |
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Transportation Infrastructure |
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1.4 |
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1.4 |
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Wireless Telecommunication Services |
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1.1 |
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1.1 |
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Total |
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100.0 |
% |
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100.0 |
% |
The geographic composition of investments at cost and fair value was as follows:
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June 30, 2026 |
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December 31, 2025 |
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Cost |
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Fair Value |
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% of Total
Investments
at Fair
Value |
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% of Total
Net Assets
at Fair
Value |
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Cost |
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Fair Value |
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% of Total
Investments
at Fair
Value |
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% of Total
Net Assets
at Fair
Value |
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Canada |
$ |
12,652 |
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$ |
12,632 |
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2.1 |
% |
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4.2 |
% |
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$ |
12,036 |
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$ |
12,088 |
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2.1 |
% |
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4.0 |
% |
United States |
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591,819 |
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|
585,482 |
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97.9 |
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195.9 |
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561,550 |
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561,470 |
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97.9 |
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|
186.5 |
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Total |
$ |
604,471 |
|
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$ |
598,114 |
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|
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100.0 |
% |
|
|
200.1 |
% |
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$ |
573,586 |
|
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$ |
573,558 |
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100.0 |
% |
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190.5 |
% |
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