v3.26.1
Financial Highlights and Senior Securities (Tables)
 6 Months Ended
Jun. 30, 2026
Investment Company [Abstract]  
Schedule of Financial Highlights
The following are the financial highlights for the six months ended June 30, 2026:
For the six months ended June 30, 2026
Class IClass SClass D
Per Share Data (1):
Net asset value, beginning of period$24.79 $24.79 $24.79 
Net investment income1.07 0.97 1.04 
Net change in unrealized and realized gain (loss)
(1.01)(1.01)(1.01)
Net increase (decrease) in net assets resulting from operations0.06 (0.04)0.03 
Distributions from net investment income (2)
(1.20)(1.10)(1.17)
Distributions from net realized gains (2)
— — — 
Net increase (decrease) in net assets from shareholders’ distributions(1.20)(1.10)(1.17)
Early repurchase deduction fees (3)
0.00 0.00 0.00 
Total increase (decrease) in net assets(1.14)(1.14)(1.14)
Net asset value, end of period$23.65 $23.65 $23.65 
Shares outstanding, end of period1,235,712,896556,694,24116,019,473
Total return based on NAV (4)
0.2 %(0.2)%0.1 %
Ratios:
Ratio of net expenses to average net assets (5)
7.1 %8.0 %7.4 %
Ratio of net investment income to average net assets (5)
8.9 %8.0 %8.6 %
Portfolio turnover rate7.6 %7.6 %7.6 %
Supplemental Data:
Net assets, end of period$29,228,916$13,167,767$378,917
Asset coverage ratio221.3 %221.3 %221.3 %
(1)The per share data was derived by using the weighted average shares outstanding during the period.
(2)The per share data for distributions was derived by using the actual shares outstanding at the date of the relevant transactions (refer to Note 9).
(3)The per share amount rounds to less than $0.01 per share, for Class I, Class S and Class D.
(4)Total return is calculated as the change in NAV per share during the period, plus distributions per share (assuming dividends and distributions are reinvested in accordance with the DRIP) divided by the beginning NAV per share. Total return does not include upfront transaction fee, if any.
(5)Amounts are annualized except for amounts relating to excise and other tax expense. For the six months ended June 30, 2026, the ratio of total operating expenses to average net assets was 7.1%, 8.0%, and 7.4% on Class I, Class S and Class D. Ratio does not include the expenses of investment companies which the Company has invested in, including joint ventures.
The following are the financial highlights for the six months ended June 30, 2025:
For the six months ended June 30, 2025
Class IClass SClass D
Per Share Data (1):
Net asset value, beginning of period$25.42 $25.42 $25.42 
Net investment income1.26 1.15 1.23 
Net change in unrealized and realized gain (loss)
(0.19)(0.19)(0.19)
Net increase (decrease) in net assets resulting from operations1.07 0.96 1.04 
Distributions from net investment income (2)
(1.32)(1.21)(1.29)
Distributions from net realized gains (2)
— — — 
Net increase (decrease) in net assets from shareholders’ distributions
(1.32)(1.21)(1.29)
Early repurchase deduction fees (3)
0.00 0.00 0.00 
Total increase (decrease) in net assets(0.25)(0.25)(0.25)
Net asset value, end of period$25.17 $25.17 $25.17 
Shares outstanding, end of period1,176,461,579557,244,60826,957,960
Total return based on NAV (4)
4.3 %3.9 %4.2 %
Ratios:
Ratio of net expenses to average net assets (5)
7.3 %8.2 %7.5 %
Ratio of net investment income to average net assets (5)
10.0 %9.1 %9.7 %
Portfolio turnover rate8.0 %8.0 %8.0 %
Supplemental Data:
Net assets, end of period$29,613,339$14,026,765$678,594
Asset coverage ratio247.8 %247.8 %247.8 %
(1)The per share data was derived by using the weighted average shares outstanding during the period.
(2)The per share data for distributions was derived by using the actual shares outstanding at the date of the relevant transactions (refer to Note 9).
(3)The per share amount rounds to less than $0.01 per share, for Class I, Class S and Class D.
(4)Total return is calculated as the change in NAV per share during the period, plus distributions per share (assuming dividends and distributions are reinvested in accordance with the DRIP) divided by the beginning NAV per share. Total return does not include upfront transaction fee, if any.
(5)Amounts are annualized except for amounts relating to excise and other tax expense. For the six months ended June 30, 2025, the ratio of total operating expenses to average net assets was 7.3%, 8.2% and 7.5%, on Class I, Class S and Class D, respectively.
Schedule of Senior Securities
The following is information about the Company’s senior securities as of the dates indicated in the table below:
Class and Period
Total Amount Outstanding Exclusive of Treasury Securities (1)
Asset Coverage per Unit (2)
Involuntary Liquidating Preference per Unit (3)
Average Market Value per Unit (4)
Bard Peak Funding Facility
June 30, 2026$725,830 $2,213 — N/A
December 31, 20251,549,670 2,357 — N/A
December 31, 20241,000,298 2,265 — N/A
December 31, 2023242,243 2,219 — N/A
December 31, 20221,235,414 1,845 — N/A
December 31, 2021879,000 1,702 — N/A
Class and Period
Total Amount Outstanding Exclusive of Treasury Securities (1)
Asset Coverage per Unit (2)
Involuntary Liquidating Preference per Unit (3)
Average Market Value per Unit (4)
Castle Peak Funding Facility
June 30, 2026$866,931 $2,213 — N/A
December 31, 20251,760,209 2,357 — N/A
December 31, 20241,194,401 2,265 — N/A
December 31, 20231,121,681 2,219 — N/A
December 31, 20221,146,600 1,845 — N/A
December 31, 20211,171,809 1,702 — N/A
Maroon Peak Funding Facility
June 30, 2026— — — N/A
December 31, 2025— — — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022300,000 1,845 — N/A
December 31, 2021483,952 1,702 — N/A
Summit Peak Funding Facility
June 30, 2026828,644 2,213 — N/A
December 31, 20251,257,548 2,357 — N/A
December 31, 2024952,105 2,265 — N/A
December 31, 2023286,046 2,219 — N/A
December 31, 20221,691,844 1,845 — N/A
December 31, 20211,643,154 1,702 — N/A
Denali Peak Funding Facility
June 30, 2026714,593 2,213 — N/A
December 31, 2025584,800 2,357 — N/A
December 31, 2024562,800 2,265 — N/A
December 31, 2023562,800 2,219 — N/A
December 31, 2022749,800 1,845 — N/A
December 31, 2021668,400 1,702 — N/A
Bushnell Peak Funding Facility
June 30, 2026350,300 2,213 — N/A
December 31, 2025554,300 2,357 — N/A
December 31, 2024480,300 2,265 — N/A
December 31, 2023465,300 2,219 — N/A
December 31, 2022400,000 1,845 — N/A
December 31, 2021395,500 1,702 — N/A
Granite Peak Funding Facility
June 30, 2026750,000 2,213 — N/A
December 31, 2025500,000 2,357 — N/A
December 31, 2024493,554 2,265 — N/A
December 31, 2023563,600 2,219 — N/A
December 31, 2022647,600 1,845 — N/A
December 31, 2021248,000 1,702 — N/A
Class and Period
Total Amount Outstanding Exclusive of Treasury Securities (1)
Asset Coverage per Unit (2)
Involuntary Liquidating Preference per Unit (3)
Average Market Value per Unit (4)
Middle Peak Funding Facility
June 30, 2026$730,000 $2,213 — N/A
December 31, 2025890,000 2,357 — N/A
December 31, 2024750,000 2,265 — N/A
December 31, 2023600,950 2,219 — N/A
December 31, 2022596,950 1,845 — N/A
December 31, 2021799,550 1,702 — N/A
Bison Peak Funding Facility
June 30, 2026930,200 2,213 — N/A
December 31, 20251,437,200 2,357 — N/A
December 31, 20241,203,200 2,265 — N/A
December 31, 2023703,200 2,219 — N/A
December 31, 20221,182,000 1,845 — N/A
December 31, 20211,320,800 1,702 — N/A
Blanca Peak Funding Facility
June 30, 2026825,000 2,213 — N/A
December 31, 2025951,000 2,357 — N/A
December 31, 20241,375,090 2,265 — N/A
December 31, 20231,375,090 2,219 — N/A
December 31, 20221,081,000 1,845 — N/A
December 31, 2021892,800 1,702 — N/A
Windom Peak Funding Facility
June 30, 2026957,919 2,213 — N/A
December 31, 20252,150,076 2,357 — N/A
December 31, 20241,029,841 2,265 — N/A
December 31, 2023967,477 2,219 — N/A
December 31, 20221,741,465 1,845 — N/A
December 31, 2021989,759 1,702 — N/A
Monarch Peak Funding Facility
June 30, 20261,050,000 2,213 — N/A
December 31, 20251,500,000 2,357 — N/A
December 31, 2024750,000 2,265 — N/A
December 31, 20231,400,400 2,219 — N/A
December 31, 2022873,400 1,845 — N/A
December 31, 2021567,400 1,702 — N/A
Borah Peak Funding Facility
June 30, 2026— — — N/A
December 31, 2025— — — N/A
December 31, 2024— — — N/A
December 31, 2023130,000 2,219 — N/A
December 31, 2022223,000 1,845 — N/A
December 31, 2021— — — N/A
Class and Period
Total Amount Outstanding Exclusive of Treasury Securities (1)
Asset Coverage per Unit (2)
Involuntary Liquidating Preference per Unit (3)
Average Market Value per Unit (4)
2022-1 BSL WH
June 30, 2026$— $— — N/A
December 31, 2025— — — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022148,000 1,845 — N/A
December 31, 2021— — — N/A
Naomi Peak Funding Facility
June 30, 2026— — — N/A
December 31, 2025— — — N/A
December 31, 2024— — — N/A
December 31, 2023385,000 2,219 — N/A
December 31, 2022400,000 1,845 — N/A
December 31, 2021— — — N/A
Meridian Peak Funding Facility
June 30, 2026— — — N/A
December 31, 2025— — — N/A
December 31, 2024246,000 2,265 — N/A
December 31, 2023246,000 2,219 — N/A
December 31, 2022170,000 1,845 — N/A
December 31, 2021— — — N/A
Haydon Peak Funding Facility
June 30, 2026114,000 2,213 — N/A
December 31, 2025212,000 2,357 — N/A
December 31, 2024250,000 2,265 — N/A
December 31, 202349,000 2,219 — N/A
December 31, 202249,000 1,845 — N/A
December 31, 2021— — — N/A
Bear Peak Funding Facility
June 30, 2026— — — N/A
December 31, 2025587,017 2,357 — N/A
December 31, 2024164,816 2,265 — N/A
December 31, 2023360,531 2,219 — N/A
December 31, 2022166,031 1,845 — N/A
December 31, 2021— — — N/A
Phoenix Peak Funding Facility
June 30, 2026215,945 2,213 — N/A
December 31, 2025221,455 2,357 — N/A
December 31, 2024197,736 2,265 — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
Class and Period
Total Amount Outstanding Exclusive of Treasury Securities (1)
Asset Coverage per Unit (2)
Involuntary Liquidating Preference per Unit (3)
Average Market Value per Unit (4)
2025-2 Lender Finance Warehouse Facility
June 30, 2026$— $— — N/A
December 31, 2025— 2,357 — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
Sonora Peak Funding Facility
June 30, 2026100,000 2,213 — N/A
December 31, 2025— — — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
Ramsey Peak Funding Facility
June 30, 2026200,000 2,213 — N/A
December 31, 2025— — — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
Crystal Peak Funding Facility
June 30, 202675,000 2,213 — N/A
December 31, 2025— — — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
Weller Peak Funding Facility
June 30, 2026— 2,213 — N/A
December 31, 2025— — — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
PC Static 2026-1 Funding Facility
June 30, 2026— — — N/A
December 31, 2025— — — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
Class and Period
Total Amount Outstanding Exclusive of Treasury Securities (1)
Asset Coverage per Unit (2)
Involuntary Liquidating Preference per Unit (3)
Average Market Value per Unit (4)
Meadow Pass WH Funding Facility
June 30, 2026$303,000 $2,213 — N/A
December 31, 2025— — — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
Revolving Credit Facility
June 30, 20262,304,440 2,213 — N/A
December 31, 20252,259,240 2,357 — N/A
December 31, 20244,639,587 2,265 — N/A
December 31, 20231,131,025 2,219 — N/A
December 31, 20221,470,758 1,845 — N/A
December 31, 20211,144,422 1,702 — N/A
June 2024 Notes
June 30, 2026— — — N/A
December 31, 2025— — — N/A
December 31, 2024— — — N/A
December 31, 2023435,000 2,219 — N/A
December 31, 2022435,000 1,845 — N/A
December 31, 2021435,000 1,702 — N/A
2026 Notes
June 30, 2026400,000 2,213 — N/A
December 31, 2025400,000 2,357 — N/A
December 31, 2024400,000 2,265 — N/A
December 31, 2023400,000 2,219 — N/A
December 31, 2022400,000 1,845 — N/A
December 31, 2021400,000 1,702 — N/A
May 2027 Notes
June 30, 2026625,000 2,213 — N/A
December 31, 2025625,000 2,357 — N/A
December 31, 2024625,000 2,265 — N/A
December 31, 2023625,000 2,219 — N/A
December 31, 2022625,000 1,845 — N/A
December 31, 2021— — — N/A
October 2027 Notes
June 30, 2026350,000 2,213 — N/A
December 31, 2025350,000 2,357 — N/A
December 31, 2024350,000 2,265 — N/A
December 31, 2023350,000 2,219 — N/A
December 31, 2022350,000 1,845 — N/A
December 31, 2021— — — N/A
Class and Period
Total Amount Outstanding Exclusive of Treasury Securities (1)
Asset Coverage per Unit (2)
Involuntary Liquidating Preference per Unit (3)
Average Market Value per Unit (4)
March 2031 5.54% Notes
June 30, 2026$500,000 $2,213 — N/A
December 31, 2025500,000 2,357 — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
March 2033 Notes
June 30, 2026500,000 2,213 — N/A
December 31, 2025500,000 2,357 — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
January 2032 Series 2026A Notes
June 30, 2026210,000 2,213 — N/A
December 31, 2025— — — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
April 2031 Series 2026B Notes
June 30, 2026500,000 2,213 — N/A
December 31, 2025— — — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
July 2031 Series 2026B Notes
June 30, 2026500,000 2,213 — N/A
December 31, 2025— — — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
June 2032 Series 2026C Notes
June 30, 2026688,000 2,213 — N/A
December 31, 2025— — — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
Class and Period
Total Amount Outstanding Exclusive of Treasury Securities (1)
Asset Coverage per Unit (2)
Involuntary Liquidating Preference per Unit (3)
Average Market Value per Unit (4)
September 2024 Notes
June 30, 2026$— $— — N/A
December 31, 2025— — — N/A
December 31, 2024— — — N/A
December 31, 2023365,000 2,219 — N/A
December 31, 2022365,000 1,845 — N/A
December 31, 2021365,000 1,702 — N/A
December 2026 Notes
June 30, 20261,250,000 2,213 — N/A
December 31, 20251,250,000 2,357 — N/A
December 31, 20241,250,000 2,265 — N/A
December 31, 20231,250,000 2,219 — N/A
December 31, 20221,250,000 1,845 — N/A
December 31, 20211,250,000 1,702 — N/A
November 2026 Eurobonds
June 30, 2026571,300 2,213 — N/A
December 31, 2025587,600 2,357 — N/A
December 31, 2024517,925 2,265 — N/A
December 31, 2023551,975 2,219 — N/A
December 31, 2022534,975 1,845 — N/A
December 31, 2021569,958 1,702 — N/A
November 2024 Notes
June 30, 2026— — — N/A
December 31, 2025— — — N/A
December 31, 2024— — — N/A
December 31, 2023500,000 2,219 — N/A
December 31, 2022500,000 1,845 — N/A
December 31, 2021500,000 1,702 — N/A
March 2027 Notes
June 30, 20261,000,000 2,213 — N/A
December 31, 20251,000,000 2,357 — N/A
December 31, 20241,000,000 2,265 — N/A
December 31, 20231,000,000 2,219 — N/A
December 31, 20221,000,000 1,845 — N/A
December 31, 20211,000,000 1,702 — N/A
January 2025 Notes
June 30, 2026— — — N/A
December 31, 2025— — — N/A
December 31, 2024500,000 2,265 — N/A
December 31, 2023500,000 2,219 — N/A
December 31, 2022500,000 1,845 — N/A
December 31, 2021— — — N/A
Class and Period
Total Amount Outstanding Exclusive of Treasury Securities (1)
Asset Coverage per Unit (2)
Involuntary Liquidating Preference per Unit (3)
Average Market Value per Unit (4)
January 2029 Notes
June 30, 2026$650,000 $2,213 — N/A
December 31, 2025650,000 2,357 — N/A
December 31, 2024650,000 2,265 — N/A
December 31, 2023650,000 2,219 — N/A
December 31, 2022650,000 1,845 — N/A
December 31, 2021— — — N/A
March 2025 Notes
June 30, 2026— — — N/A
December 31, 2025— — — N/A
December 31, 2024900,000 2,265 — N/A
December 31, 2023900,000 2,219 — N/A
December 31, 2022900,000 1,845 — N/A
December 31, 2021— — — N/A
April 2026 UK Bonds
June 30, 2026— — — N/A
December 31, 2025336,988 2,357 — N/A
December 31, 2024312,975 2,265 — N/A
December 31, 2023318,663 2,219 — N/A
December 31, 2022301,725 1,845 — N/A
December 31, 2021— — — N/A
September 2025 Notes
June 30, 2026— — — N/A
December 31, 2025— — — N/A
December 31, 2024800,000 2,265 — N/A
December 31, 2023800,000 2,219 — N/A
December 31, 2022800,000 1,845 — N/A
December 31, 2021— — — N/A
November 2028 Notes
June 30, 2026650,000 2,213 — N/A
December 31, 2025650,000 2,357 — N/A
December 31, 2024500,000 2,265 — N/A
December 31, 2023500,000 2,219 — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
January 2031 Notes
June 30, 2026600,000 2,213 — N/A
December 31, 2025600,000 2,357 — N/A
December 31, 2024500,000 2,265 — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
Class and Period
Total Amount Outstanding Exclusive of Treasury Securities (1)
Asset Coverage per Unit (2)
Involuntary Liquidating Preference per Unit (3)
Average Market Value per Unit (4)
July 2029 Notes
June 30, 2026$900,000 $2,213 — N/A
December 31, 2025900,000 2,357 — N/A
December 31, 2024500,000 2,265 — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
September 2027 Notes
June 30, 2026400,000 2,213 — N/A
December 31, 2025400,000 2,357 — N/A
December 31, 2024400,000 2,265 — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
April 2030 Notes
June 30, 2026400,000 2,213 — N/A
December 31, 2025400,000 2,357 — N/A
December 31, 2024400,000 2,265 — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
November 2029 Notes
June 30, 2026400,000 2,213 — N/A
December 31, 2025400,000 2,357 — N/A
December 31, 2024400,000 2,265 — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
November 2034 Notes
June 30, 2026800,000 2,213 — N/A
December 31, 2025800,000 2,357 — N/A
December 31, 2024800,000 2,265 — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
January 2032 Notes
June 30, 20261,000,000 2,213 — N/A
December 31, 20251,000,000 2,357 — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
Class and Period
Total Amount Outstanding Exclusive of Treasury Securities (1)
Asset Coverage per Unit (2)
Involuntary Liquidating Preference per Unit (3)
Average Market Value per Unit (4)
September 2030 Notes
June 30, 2026$500,000 $2,213 — N/A
December 31, 2025500,000 2,357 — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
March 2031 5.350% Notes
June 30, 2026700,000 2,213 — N/A
December 31, 2025— — — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
May 2031 Notes
June 30, 2026850,000 2,213 — N/A
December 31, 2025— — — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
2021-1 BSL Notes
June 30, 2026— — — N/A
December 31, 2025— — — N/A
December 31, 2024663,000 2,265 — N/A
December 31, 2023663,000 2,219 — N/A
December 31, 2022663,000 1,845 — N/A
December 31, 2021663,000 1,702 — N/A
2021-2 Notes
June 30, 2026— — — N/A
December 31, 2025505,800 2,357 — N/A
December 31, 2024505,800 2,265 — N/A
December 31, 2023505,800 2,219 — N/A
December 31, 2022505,800 1,845 — N/A
December 31, 2021505,800 1,702 — N/A
MML 2021-1 Debt
June 30, 2026690,000 2,213 — N/A
December 31, 2025690,000 2,357 — N/A
December 31, 2024690,000 2,265 — N/A
December 31, 2023690,000 2,219 — N/A
December 31, 2022690,000 1,845 — N/A
December 31, 2021690,000 1,702 — N/A
Class and Period
Total Amount Outstanding Exclusive of Treasury Securities (1)
Asset Coverage per Unit (2)
Involuntary Liquidating Preference per Unit (3)
Average Market Value per Unit (4)
MML 2022-1 Debt
June 30, 2026$759,000 $2,213 — N/A
December 31, 2025759,000 2,357 — N/A
December 31, 2024759,000 2,265 — N/A
December 31, 2023759,000 2,219 — N/A
December 31, 2022759,000 1,845 — N/A
December 31, 2021— — — N/A
2022-1 BSL Debt
June 30, 2026— — — N/A
December 31, 2025420,000 2,357 — N/A
December 31, 2024420,000 2,265 — N/A
December 31, 2023420,000 2,219 — N/A
December 31, 2022420,000 1,845 — N/A
December 31, 2021— — — N/A
MML 2022-2 Debt
June 30, 2026300,500 2,213 — N/A
December 31, 2025300,500 2,357 — N/A
December 31, 2024300,500 2,265 — N/A
December 31, 2023300,500 2,219 — N/A
December 31, 2022300,500 1,845 — N/A
December 31, 2021— — — N/A
2023-1 Notes
June 30, 2026305,000 2,213 — N/A
December 31, 2025305,000 2,357 — N/A
December 31, 2024305,000 2,265 — N/A
December 31, 2023305,000 2,219 — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
2024-1 Notes
June 30, 2026244,000 2,213 — N/A
December 31, 2025244,000 2,357 — N/A
December 31, 2024244,000 2,265 — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
2024-2 Notes
June 30, 2026305,000 2,213 — N/A
December 31, 2025305,000 2,357 — N/A
December 31, 2024305,000 2,265 — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
Class and Period
Total Amount Outstanding Exclusive of Treasury Securities (1)
Asset Coverage per Unit (2)
Involuntary Liquidating Preference per Unit (3)
Average Market Value per Unit (4)
2025-1 Notes
June 30, 2026$884,000 $2,213 — N/A
December 31, 2025884,000 2,357 — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
2025-1 Lender Finance Facility
June 30, 2026890,000 2,213 — N/A
December 31, 2025890,000 2,357 — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
2025-1 BSL Notes
June 30, 2026427,389 2,213 — N/A
December 31, 2025661,625 2,357 — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
2025-2 Lender Finance Facility
June 30, 2026882,500 2,213 — N/A
December 31, 2025— — — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
2026-1 Notes
June 30, 2026735,000 2,213 — N/A
December 31, 2025— — — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
2026-1 Static Notes
June 30, 2026306,000 2,213 — N/A
December 31, 2025— — — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
Class and Period
Total Amount Outstanding Exclusive of Treasury Securities (1)
Asset Coverage per Unit (2)
Involuntary Liquidating Preference per Unit (3)
Average Market Value per Unit (4)
2026-2 Static Notes
June 30, 2026$680,000 $2,213 — N/A
December 31, 2025— — — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
2026-2 Notes
June 30, 2026272,000 2,213 — N/A
December 31, 2025— — — N/A
December 31, 2024— — — N/A
December 31, 2023— — — N/A
December 31, 2022— — — N/A
December 31, 2021— — — N/A
Short-Term Borrowings
June 30, 2026604,371 2,213 — N/A
December 31, 2025856,829 2,357 — N/A
December 31, 2024420,829 2,265 — N/A
December 31, 202328,546 2,219 — N/A
December 31, 2022619,377 1,845 — N/A
December 31, 2021718,156 1,702 — N/A

(1)Total amount of each class of senior securities outstanding at the end of the period presented.
(2)Asset coverage per unit is the ratio of the carrying value of the Company’s total assets, less all liabilities excluding indebtedness represented by senior securities in this table, to the aggregate amount of senior securities representing indebtedness. Asset coverage per unit is expressed in terms of dollar amounts per $1,000 of indebtedness and is calculated on a consolidated basis.
(3)The amount to which such class of senior security would be entitled upon the Company’s involuntary liquidation in preference to any security junior to it. The “-” in this column indicates information that the SEC expressly does not require to be disclosed for certain types of senior securities.
(4)Not applicable because the senior securities are not registered for public trading.