v3.26.1
Earnings Per Share
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Earnings Per Share

7. Earnings Per Share

Basic earnings/(loss) per common share is determined by dividing net income/(loss) attributable to common shareholders by the weighted average number of common shares outstanding during the period. All classes of common shares are allocated income/(loss) at the same rate per share and receive the same gross distribution per share before class-specific fees and accruals/allocations. To the extent that class-specific fees and accruals/allocations are applicable they will be deducted to arrive at class specific net income/(loss) per share and net distribution rate per share.

For the three and six months ended June 30, 2026 and 2025 net earnings per common share is computed as below ($ in thousands, except per share data):

 

 

 

Three Months Ended June 30, 2026

 

 

 

Class B

 

 

Class R

 

 

Class J-1

 

 

Class J-2

 

 

Class J-4

 

 

Class S

 

 

Class I

 

 

Class E

 

 

Class F-I

 

 

Class F-S

 

 

Total

 

Net income

 

$

9,747

 

 

$

1,615

 

 

$

6,017

 

 

$

1,278

 

 

$

2,076

 

 

$

512

 

 

$

2,532

 

 

$

542

 

 

$

7

 

 

$

21

 

 

$

24,347

 

Weighted average number of common shares outstanding

 

 

26,347

 

 

 

4,362

 

 

 

16,254

 

 

 

3,453

 

 

 

6,717

 

 

 

1,648

 

 

 

8,165

 

 

 

1,291

 

 

 

21

 

 

 

68

 

 

 

68,326

 

Earnings per common share — basic and diluted

 

$

0.37

 

 

$

0.37

 

 

$

0.37

 

 

$

0.37

 

 

$

0.31

 

 

$

0.31

 

 

$

0.31

 

 

$

0.42

 

 

$

0.33

 

 

$

0.31

 

 

$

0.36

 

 

 

 

Three Months Ended June 30, 2025

 

 

 

Class B

 

 

Class R

 

 

Class J-1

 

 

Class J-2

 

 

Class J-4

 

 

Class S

 

 

Class I

 

 

Class E

 

 

Class F-I

 

 

Class F-S

 

 

Total

 

Net income

 

$

8,216

 

 

$

1,691

 

 

$

5,864

 

 

$

1,249

 

 

$

476

 

 

$

60

 

 

$

275

 

 

$

553

 

 

$

—

 

 

$

—

 

 

$

18,384

 

Weighted average number of common shares outstanding

 

 

21,441

 

 

 

4,428

 

 

 

15,335

 

 

 

3,270

 

 

 

1,343

 

 

 

166

 

 

 

783

 

 

 

1,283

 

 

 

—

 

 

 

—

 

 

 

48,049

 

Earnings per common share — basic and diluted

 

$

0.38

 

 

$

0.38

 

 

$

0.38

 

 

$

0.38

 

 

$

0.35

 

 

$

0.36

 

 

$

0.35

 

 

$

0.43

 

 

$

—

 

 

$

—

 

 

$

0.38

 

 

 

 

Six Months Ended June 30, 2026

 

 

 

Class B

 

 

Class R

 

 

Class J-1

 

 

Class J-2

 

 

Class J-4

 

 

Class S

 

 

Class I

 

 

Class E

 

 

Class F-I

 

 

Class F-S

 

 

Total

 

Net income

 

$

19,486

 

 

$

3,261

 

 

$

11,984

 

 

$

2,547

 

 

$

3,902

 

 

$

923

 

 

$

4,614

 

 

$

1,085

 

 

$

7

 

 

$

21

 

 

$

47,830

 

Weighted average number of common shares outstanding

 

 

26,256

 

 

 

4,393

 

 

 

16,134

 

 

 

3,428

 

 

 

6,243

 

 

 

1,467

 

 

 

7,334

 

 

 

1,288

 

 

 

11

 

 

 

34

 

 

 

66,588

 

Earnings per common share — basic and diluted

 

$

0.74

 

 

$

0.74

 

 

$

0.74

 

 

$

0.74

 

 

$

0.63

 

 

$

0.63

 

 

$

0.63

 

 

$

0.84

 

 

$

0.64

 

 

$

0.62

 

 

$

0.72

 

 

 

 

Six Months Ended June 30, 2025

 

 

 

Class B

 

 

Class R

 

 

Class J-1

 

 

Class J-2

 

 

Class J-4

 

 

Class S

 

 

Class I

 

 

Class E

 

 

Class F-I

 

 

Class F-S

 

 

Total

 

Net income

 

$

14,831

 

 

$

3,096

 

 

$

7,137

 

 

$

1,708

 

 

$

476

 

 

$

60

 

 

$

313

 

 

$

1,119

 

 

$

—

 

 

$

—

 

 

$

28,740

 

Weighted average number of common shares outstanding

 

 

18,314

 

 

 

3,827

 

 

 

9,659

 

 

 

2,352

 

 

 

675

 

 

 

83

 

 

 

455

 

 

 

1,263

 

 

 

—

 

 

 

—

 

 

 

36,628

 

Earnings per common share — basic and diluted

 

$

0.81

 

 

$

0.81

 

 

$

0.74

 

 

$

0.73

 

 

$

0.71

 

 

$

0.72

 

 

$

0.69

 

 

$

0.89

 

 

$

—

 

 

$

—

 

 

$

0.78