v3.26.3
CONSOLIDATED SCHEDULE OF INVESTMENTS (Parenthetical) - USD ($)
$ in Thousands
Sep. 30, 2026
Mar. 31, 2026
Schedule of Investments [Line Items]    
Investments at fair value $ 2,410,129 [1],[2],[3],[4],[5] $ 2,097,446 [6],[7],[8],[9],[10]
Percentage of Net Assets at Fair Value 217.83% [1],[2],[4],[5] 207.46% [6],[8],[9],[10]
Contribution percentage in non-qualified assets 9.50% 8.10%
Gross unrealized appreciation $ 106,100 $ 109,000
Gross unrealized depreciation 166,800 133,800
Net unrealized appreciation (depreciation) (60,700) (24,800)
Cost of investments $ 2,470,900 $ 2,122,300
Percent of total assets 95.50% 96.30%
Non-control/Non-affiliate investments    
Schedule of Investments [Line Items]    
Investments at fair value $ 1,951,314 $ 1,682,425
Percent of investment assets 81.00% 80.20%
Percentage of Net Assets at Fair Value 176.30% 166.50%
Affiliate investments    
Schedule of Investments [Line Items]    
Investments at fair value $ 359,192 $ 340,760
Percent of investment assets 14.90% 16.30%
Percentage of Net Assets at Fair Value 32.50% 33.70%
Control investments    
Schedule of Investments [Line Items]    
Investments at fair value $ 99,623 $ 74,261
Percent of investment assets 4.10% 3.50%
Percentage of Net Assets at Fair Value 9.00% 7.30%
Minimum    
Schedule of Investments [Line Items]    
Variable rate adjustment 0.00% 0.00%
Maximum    
Schedule of Investments [Line Items]    
Variable rate adjustment 0.26161% 0.26161%
[1] All debt investments are income-producing, unless otherwise noted. Equity investments are non-income producing, unless otherwise noted.
[2] Non-Control/Non-Affiliate investments are generally defined by the 1940 Act as investments that are neither control investments nor affiliate investments. Investments are classified as non-control/non-affiliate investments, unless otherwise noted. At September 30, 2026, the Company held $1,951.3 million of non-control/non-affiliate investments (at fair value), which represented approximately 81.0% of the Company’s total investments. The fair value of these investments as a percent of net assets is 176.3%.
[3] The Company's investment portfolio is comprised entirely of debt and equity securities, along with other financial instruments, of privately held companies for which quoted prices falling within the categories of Level 1 and Level 2 inputs are not readily available. Therefore, the Company values all of its portfolio investments at fair value, as determined in good faith by the valuation committee comprised of certain officers of the Company (the "Valuation Committee") as the valuation designee of the Board of Directors (the "Valuation Designee") pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended (the “1940 Act”), using significant unobservable Level 3 inputs. Refer to Note 4 - Fair Value Measurements for further discussion.
[4] Equity ownership may be held in shares or units of a company that is either wholly owned by the portfolio company or under common control by the same parent company to the portfolio company.
[5] Unless otherwise noted, all portfolio company headquarters are based in the United States.
[6] Non-Control/Non-Affiliate investments are generally defined by the 1940 Act as investments that are neither control investments nor affiliate investments. Investments are classified as non-control/non-affiliate investments, unless otherwise noted. At March 31, 2026, the Company held $1,682.4 million of non-control/non-affiliate investments, which represented approximately 80.2% of the Company’s investment assets. The fair value of these investments as a percent of net assets is 166.5%.
[7] The Company's investment portfolio is comprised entirely of debt and equity securities, along with other financial instruments, of privately held companies for which quoted prices falling within the categories of Level 1 and Level 2 inputs are not readily available. Therefore, the Company values all of its portfolio investments at fair value, as determined in good faith by the valuation committee comprised of certain officers of the Company (the "Valuation Committee") as the valuation designee of the Board of Directors (the "Valuation Designee") pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended (the “1940 Act”), using significant unobservable Level 3 inputs. Refer to Note 4 - Fair Value Measurements for further discussion.
[8] Equity ownership may be held in shares or units of a company that is either wholly owned by the portfolio company or under common control by the same parent company to the portfolio company.
[9] Unless otherwise noted, all portfolio company headquarters are based in the United States.
[10] All debt investments are income-producing, unless otherwise noted. Equity investments are non-income producing, unless otherwise noted.