| 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 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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Cost |
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Fair Value |
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% of
Total
Investments
at Fair Value |
|
First Lien Debt |
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$ |
2,218,057 |
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$ |
2,168,231 |
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97.8 |
% |
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$ |
2,184,395 |
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$ |
2,141,391 |
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97.9 |
% |
Second Lien Debt |
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10,619 |
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10,775 |
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0.5 |
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17,092 |
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17,401 |
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0.8 |
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Other Debt Investments |
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6,787 |
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5,059 |
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0.2 |
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8,128 |
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8,029 |
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0.4 |
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Equity |
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41,441 |
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32,711 |
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1.5 |
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24,369 |
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19,127 |
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0.9 |
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Total |
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$ |
2,276,904 |
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$ |
2,216,776 |
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100.0 |
% |
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$ |
2,233,984 |
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$ |
2,185,948 |
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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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2.2 |
% |
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1.5 |
% |
Air Freight & Logistics |
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0.1 |
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0.5 |
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Automobile Components |
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1.7 |
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1.6 |
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Automobiles |
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1.9 |
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2.0 |
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Banks |
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0.1 |
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0.2 |
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Beverages |
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0.1 |
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0.1 |
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Building Products |
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0.4 |
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0.4 |
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Capital Markets |
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0.4 |
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— |
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Chemicals |
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1.5 |
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1.5 |
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Commercial Services & Supplies |
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9.6 |
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9.4 |
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Construction & Engineering |
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1.3 |
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1.4 |
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Consumer Staples Distribution & Retail |
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0.1 |
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0.2 |
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Containers & Packaging |
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1.0 |
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1.0 |
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Distributors |
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2.7 |
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2.8 |
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Diversified Consumer Services |
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5.5 |
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5.8 |
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Diversified Telecommunication Services |
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0.7 |
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— |
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Electrical Equipment |
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0.2 |
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0.2 |
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Electronic Equipment, Instruments & Components |
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3.3 |
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3.9 |
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Financial Services |
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4.6 |
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4.5 |
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Ground Transportation |
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1.4 |
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1.3 |
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Health Care Equipment & Supplies |
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2.1 |
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1.3 |
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Health Care Providers & Services |
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8.9 |
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9.2 |
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Health Care Technology |
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0.9 |
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0.9 |
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Industrial Conglomerates |
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2.6 |
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4.0 |
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Insurance Services |
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11.2 |
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10.2 |
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Interactive Media & Services |
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0.5 |
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0.5 |
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IT Services |
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5.1 |
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4.9 |
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Life Sciences Tools & Services |
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0.7 |
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0.6 |
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Machinery |
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1.6 |
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1.6 |
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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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0.9 |
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1.0 |
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Professional Services |
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3.9 |
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4.9 |
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Real Estate Management & Development |
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2.6 |
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2.6 |
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Software |
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19.0 |
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18.3 |
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Transportation Infrastructure |
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0.5 |
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0.5 |
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Wireless Telecommunication Services |
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0.5 |
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0.5 |
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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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Australia |
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$ |
19,432 |
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$ |
19,447 |
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0.9 |
% |
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1.7 |
% |
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$ |
19,498 |
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$ |
19,794 |
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0.9 |
% |
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1.8 |
% |
Canada |
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50,816 |
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50,907 |
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2.3 |
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4.3 |
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63,459 |
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63,688 |
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2.9 |
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5.7 |
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United Kingdom |
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16,322 |
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16,258 |
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0.7 |
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1.4 |
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9,602 |
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9,702 |
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0.4 |
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0.9 |
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United States |
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2,190,334 |
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2,130,164 |
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96.1 |
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181.4 |
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2,141,425 |
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2,092,764 |
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95.8 |
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186.2 |
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Total |
|
$ |
2,276,904 |
|
|
$ |
2,216,776 |
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|
|
100.0 |
% |
|
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188.8 |
% |
|
$ |
2,233,984 |
|
|
$ |
2,185,948 |
|
|
|
100.0 |
% |
|
|
194.6 |
% |
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