| Schedule 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 |
|
|
Fair Value |
|
|
% of
Total
Investments
at Fair Value |
|
First Lien Debt |
|
$ |
2,218,057 |
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|
$ |
2,168,231 |
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|
|
97.8 |
% |
|
$ |
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 |
|
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 |
|
Total |
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$ |
2,276,904 |
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|
$ |
2,216,776 |
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|
100.0 |
% |
|
$ |
2,233,984 |
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|
$ |
2,185,948 |
|
|
|
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 |
|
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 |
|
Commercial Services & Supplies |
|
|
9.6 |
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9.4 |
|
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 |
|
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 |
% |
|
|
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 |
|
|
Fair Value |
|
|
% of
Total
Investments
at Fair Value |
|
|
% of Total Net Assets at Fair Value |
|
|
Cost |
|
|
Fair Value |
|
|
% of
Total
Investments
at Fair Value |
|
|
% of Total Net Assets at Fair Value |
|
Australia |
|
$ |
19,432 |
|
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$ |
19,447 |
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|
0.9 |
% |
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|
1.7 |
% |
|
$ |
19,498 |
|
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$ |
19,794 |
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|
0.9 |
% |
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|
1.8 |
% |
Canada |
|
|
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 |
|
|
|
9,702 |
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0.4 |
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|
0.9 |
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United States |
|
|
2,190,334 |
|
|
|
2,130,164 |
|
|
|
96.1 |
|
|
|
181.4 |
|
|
|
2,141,425 |
|
|
|
2,092,764 |
|
|
|
95.8 |
|
|
|
186.2 |
|
Total |
|
$ |
2,276,904 |
|
|
$ |
2,216,776 |
|
|
|
100.0 |
% |
|
|
188.8 |
% |
|
$ |
2,233,984 |
|
|
$ |
2,185,948 |
|
|
|
100.0 |
% |
|
|
194.6 |
% |
|