v3.26.1
Investments
 6 Months Ended
Jun. 30, 2026
Schedule of Investments [Abstract]  
Investments Investments
The composition of the Company’s investment portfolio at cost and fair value was as follows:

June 30, 2026December 31, 2025
Amortized CostFair Value% of Total
Investments at
Fair Value		Amortized CostFair Value% of Total
Investments at
Fair Value
First lien debt$1,792,129 $1,772,488 78.04 %$1,781,224 $1,795,053 82.42 %
Second lien debt10,093 10,045 0.44 7,894 7,906 0.36 
Other secured debt79,523 79,396 3.50 63,601 64,380 2.96 
Unsecured debt54,682 56,158 2.47 47,040 48,111 2.21 
Structured finance investments37,963 39,466 1.74 17,013 17,206 0.79 
Preferred equity231,568 262,887 11.58 179,845 196,010 9.00 
Other equity investments42,154 50,568 2.23 41,587 49,155 2.26 
Total$2,248,112 $2,271,008 100.00 %$2,138,204 $2,177,821 100.00 %
The industry composition of investments at fair value as of June 30, 2026 as compared to December 31, 2025 was as follows:

June 30, 2026December 31, 2025
Fair ValuePercentage of Total Investments at Fair ValueFair ValuePercentage of Total Investments at Fair Value
Aerospace & Defense$150,145 6.61 %$152,849 7.02 %
Asset Based Lending and Fund Finance20,026 0.88 21,981 1.01 
Automobile Components30,140 1.33 30,735 1.41 
Beverages74,415 3.28 73,945 3.40 
Capital Markets 29,814 1.31 29,007 1.33 
Chemicals27,136 1.19 26,872 1.23 
Commercial Services & Supplies95,027 4.18 86,302 3.96 
Communications Equipment13,188 0.58 13,731 0.63 
Construction & Engineering2,432 0.11 2,556 0.12 
Consumer Staples Distribution & Retail 42,633 1.88 42,132 1.93 
Containers & Packaging42,248 1.86 42,641 1.96 
Distributors— — 13,558 0.62 
Diversified Consumer Services25,522 1.12 23,596 1.08 
Diversified Telecommunication Services 4,440 0.20 2,989 0.14 
Electric Utilities9,565 0.42 10,241 0.47 
Electrical Equipment 8,356 0.37 8,405 0.39 
Electronic Equipment, Instruments & Components6,685 0.29 5,638 0.26 
Entertainment49,404 2.18 49,923 2.29 
Financial Services118,931 5.24 83,948 3.85 
Food Products 718 0.03 622 0.03 
Health Care Equipment & Supplies96,644 4.26 90,621 4.16 
Health Care Providers & Services243,545 10.72 221,208 10.17 
Health Care Technology16,865 0.74 18,473 0.85 
Hotels, Restaurants & Leisure211,371 9.31 132,009 6.06 
Household Durables1,777 0.08 2,055 0.09 
Independent Power and Renewable Electricity Producers244,762 10.77 213,355 9.80 
Insurance61,488 2.71 64,673 2.97 
IT Services11,410 0.50 13,301 0.61 
Leisure Products 11,597 0.51 11,736 0.54 
Life Sciences Tools & Services 1,506 0.07 3,054 0.14 
Machinery11,157 0.49 8,843 0.41 
Media— — 24,149 1.11 
Metals & Mining16,262 0.72 17,015 0.78 
Mortgage Real Estate Investment Trusts (REITs)12,290 0.54 — — 
Multi-Utilities — — 2,573 0.12 
Pharmaceuticals93,807 4.13 108,561 4.98 
Professional Services14,886 0.66 14,713 0.68 
Real Estate Management & Development3,261 0.14 2,579 0.12 
Software237,145 10.44 302,168 13.87 
Specialty Retail57,474 2.53 59,487 2.73 
Structured Finance 39,466 1.74 17,206 0.79 
Textiles, Apparel & Luxury Goods36,570 1.61 33,117 1.52 
Trading Companies & Distributors20,833 0.92 21,395 0.98 
Transportation Infrastructure16,643 0.73 17,386 0.80 
Wireless Telecommunication Services 59,424 2.62 56,473 2.59 
Total$2,271,008 100.00 %$2,177,821 100.00 %
The geographic composition of investments at cost and fair value was as follows:

June 30, 2026
Amortized CostFair Value% of Total Investments at Fair ValueFair Value as % of Net Assets
United States$1,914,165 $1,924,815 84.75 %145.18 %
United Kingdom190,171 199,355 8.78 15.04 
Austria37,059 39,863 1.76 3.01 
Canada36,319 36,375 1.60 2.74 
Spain29,317 28,498 1.25 2.15 
France15,400 16,052 0.71 1.21 
Australia13,382 13,847 0.61 1.04 
Germany6,350 6,128 0.27 0.46 
Taiwan3,008 3,133 0.14 0.24 
United Arab Emirates2,941 2,942 0.13 0.22 
Total$2,248,112 $2,271,008 100.00 %171.29 %

December 31, 2025
Amortized CostFair Value% of Total Investments at Fair ValueFair Value as % of Net Assets
United States$1,823,283 $1,840,885 84.53 %147.51 %
United Kingdom158,499 172,951 7.94 13.86 
Austria36,449 40,212 1.85 3.22 
Australia32,938 33,807 1.55 2.71 
Spain29,256 29,655 1.36 2.38 
Canada24,771 25,108 1.15 2.01 
France21,312 23,217 1.07 1.86 
Germany8,714 8,830 0.41 0.71 
Taiwan2,982 3,156 0.14 0.25 
Total$2,138,204 $2,177,821 100.00 %174.51 %

As of June 30, 2026 and December 31, 2025, there was one and one portfolio company on non-accrual status, respectively, which represented 0.27% and 0.29% of total debt and income producing investments at fair value, respectively.

As of June 30, 2026 and December 31, 2025, on a fair value basis, 92.5% and 94.3% of performing debt and income producing investments bore interest at a floating rate, respectively, and 7.5% and 5.7% of performing debt and income producing investments bore interest at a fixed rate, respectively.