| Summary of Company's Affiliated Investments |
As defined in the Investment Company Act, an investment is deemed to be a “controlled affiliated person” of the Fund because the Fund owns, either directly or indirectly, 25% or more of the portfolio company’s outstanding voting securities or has the power to exercise control over management or policies of such portfolio company. As defined in the Investment Company Act an investment is deemed to be an “affiliated person” of the Fund because the Fund owns, either directly or indirectly, 5% or more of the portfolio company’s outstanding voting securities. The table below presents the Fund’s affiliated investments:
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Loan Type |
Beginning
Fair Value
Balance |
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Gross
Additions(1) |
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Gross
Reductions(2) |
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Net Realized
Gain/Loss |
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Net Change in
Unrealized
Appreciation
(Depreciation) |
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Ending Fair
Value
Balance |
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Dividend,
Interest,
PIK and
Other
Income |
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For the six months ended June 30, 2026 |
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Non-Controlled Affiliates |
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SBS Super Holdings, LLC (Class A and Class B Units) |
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Common Stocks |
$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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Delaware Valley Management Holdings, Inc. |
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Term Loan |
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539,108 |
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— |
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— |
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— |
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(1,887 |
) |
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537,221 |
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— |
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Delaware Valley Management Holdings, Inc. |
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Delayed Draw Term Loan |
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106,210 |
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— |
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— |
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— |
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(372 |
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105,838 |
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— |
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Delaware Valley Management Holdings, Inc. |
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Revolver |
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83,827 |
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— |
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— |
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— |
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(293 |
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83,534 |
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— |
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Delaware Valley Management Holdings, Inc. |
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Delayed Draw Term Loan |
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56,748 |
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— |
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— |
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— |
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(198 |
) |
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56,550 |
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— |
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Total Non-Controlled
Affiliates |
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$ |
785,893 |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
(2,750 |
) |
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$ |
783,143 |
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$ |
— |
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|
Loan Type |
Beginning
Fair Value
Balance |
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|
Gross
Additions(1) |
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Gross
Reductions(2) |
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|
Net Realized
Gain/Loss |
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|
Net Change in
Unrealized
Appreciation
(Depreciation) |
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|
Ending Fair
Value
Balance |
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|
Dividend,
Interest,
PIK and
Other
Income |
|
For the six months ended June 30, 2025 |
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Non-Controlled Affiliates |
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SBS Super Holdings, LLC (Class A and Class B Units) |
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Common Stocks |
$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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Delaware Valley Management Holdings, Inc. |
|
Delayed Draw Term Loan |
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60,364 |
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2,415 |
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— |
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— |
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(2,839 |
) |
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59,940 |
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— |
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Delaware Valley Management Holdings, Inc. |
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Delayed Draw Term Loan |
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112,997 |
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4,520 |
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— |
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— |
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(5,313 |
) |
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112,184 |
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— |
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Delaware Valley Management Holdings, Inc. |
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Revolver |
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89,190 |
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3,568 |
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— |
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— |
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(4,236 |
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88,522 |
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— |
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Delaware Valley Management Holdings, Inc. |
|
Term Loan |
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573,437 |
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22,944 |
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— |
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— |
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(26,972 |
) |
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569,429 |
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— |
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Total Non-Controlled
Affiliates |
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$ |
835,988 |
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$ |
33,447 |
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$ |
— |
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$ |
— |
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$ |
(39,360 |
) |
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$ |
830,075 |
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$ |
— |
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(1)Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK, the accretion of discounts, the exchange of one or more existing securities for one or more new securities and the movement of an existing portfolio company into this category from a different category. (2)Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and the movement of an existing portfolio company out of this category into a different category.
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