Note 4. Investments The following table presents the composition of the Company’s investment portfolio (excluding short-term investments in money market funds) at amortized cost and fair value as of June 30, 2026 and December 31, 2025.
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|
|
|
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|
|
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|
|
|
June 30, 2026 |
|
|
December 31, 2025 |
|
|
|
Amortized
Cost |
|
|
Fair Value |
|
|
Amortized
Cost |
|
|
Fair Value |
|
First-lien senior secured debt investments |
|
$ |
329,711 |
|
|
$ |
329,401 |
|
|
$ |
314,856 |
|
|
$ |
317,355 |
|
Total portfolio company investments |
|
$ |
329,711 |
|
|
$ |
329,401 |
|
|
$ |
314,856 |
|
|
$ |
317,355 |
|
As of June 30, 2026, $1,977 of the Company's total assets were non-qualifying assets, as defined by Section 55(a) of the 1940 Act. As of December 31, 2025, all of the Company's debt investments were qualifying assets. The Company uses Global Industry Classification Standards (GICS), Level 3 – Industry, for classifying the industry groupings of its portfolio companies. The industry composition of long-term investments based on fair value as of June 30, 2026 and December 31, 2025 was as follows:
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June 30, 2026 |
|
|
December 31, 2025 |
|
Health care providers & services |
|
|
15.7 |
% |
|
|
14.0 |
% |
Distributors |
|
|
12.8 |
% |
|
|
14.6 |
% |
Commercial services & supplies |
|
|
10.6 |
% |
|
|
11.6 |
% |
Food products |
|
|
10.3 |
% |
|
|
10.9 |
% |
Containers & packaging |
|
|
8.6 |
% |
|
|
8.1 |
% |
Professional services |
|
|
6.3 |
% |
|
|
6.5 |
% |
Machinery |
|
|
5.4 |
% |
|
|
6.9 |
% |
Aerospace & defense |
|
|
4.3 |
% |
|
|
3.5 |
% |
Building products |
|
|
3.5 |
% |
|
|
2.3 |
% |
Leisure products |
|
|
3.3 |
% |
|
|
3.2 |
% |
Chemicals |
|
|
3.2 |
% |
|
|
3.3 |
% |
Personal care products |
|
|
2.4 |
% |
|
|
0.8 |
% |
Household products |
|
|
2.0 |
% |
|
|
2.1 |
% |
Automobile components |
|
|
1.8 |
% |
|
|
1.9 |
% |
Diversified consumer services |
|
|
1.5 |
% |
|
|
1.6 |
% |
IT services |
|
|
1.5 |
% |
|
|
1.6 |
% |
Biotechnology |
|
|
1.3 |
% |
|
|
1.4 |
% |
Household durables |
|
|
1.3 |
% |
|
|
1.4 |
% |
Wireless telecommunication services |
|
|
1.2 |
% |
|
|
1.2 |
% |
Health care equipment & supplies |
|
|
0.9 |
% |
|
|
0.9 |
% |
Insurance |
|
|
0.6 |
% |
|
|
0.6 |
% |
Consumer staples distribution & retail |
|
|
0.6 |
% |
|
|
- |
% |
Textiles, apparel & luxury goods |
|
|
0.5 |
% |
|
|
0.8 |
% |
Diversified telecommunication services |
|
|
0.4 |
% |
|
|
0.8 |
% |
|
|
|
100.0 |
% |
|
|
100.0 |
% |
|