| Schedule of Investment Portfolio at Amortized Cost and Fair Value |
The following table presents the composition of the Company’s investment portfolio at amortized cost and fair value as of September 30, 2026 and December 31, 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2026 |
|
|
December 31, 2025 |
|
|
|
Amortized Cost |
|
|
Fair Value |
|
|
Amortized Cost |
|
|
Fair Value |
|
First-lien senior secured debt |
|
$ |
1,038,993,241 |
|
|
$ |
943,746,262 |
|
|
$ |
1,088,644,221 |
|
|
$ |
1,014,924,713 |
|
Second-lien senior secured debt |
|
|
72,838,033 |
|
|
|
56,200,094 |
|
|
|
72,146,972 |
|
|
|
59,868,971 |
|
Corporate Bonds |
|
|
7,762,171 |
|
|
|
6,448,125 |
|
|
|
8,892,453 |
|
|
|
7,929,631 |
|
CLO Mezzanine |
|
|
7,947,023 |
|
|
|
6,087,114 |
|
|
|
34,863,998 |
|
|
|
34,300,352 |
|
CLO Equity |
|
|
6,769,842 |
|
|
|
3,665,548 |
|
|
|
8,326,282 |
|
|
|
6,087,607 |
|
Equity |
|
|
13,919,926 |
|
|
|
10,290,017 |
|
|
|
8,965,875 |
|
|
|
7,812,775 |
|
Short-term investments |
|
|
61,145,715 |
|
|
|
61,145,715 |
|
|
|
72,716,269 |
|
|
|
72,716,269 |
|
Total Investments |
|
$ |
1,209,375,951 |
|
|
$ |
1,087,582,875 |
|
|
$ |
1,294,556,070 |
|
|
$ |
1,203,640,318 |
|
|
| Schedule of Percentage of Total Investments at Fair Value |
The industry composition of investments based on fair value, as a percentage of total investments at fair value, as of September 30, 2026 and December 31, 2025 was as follows:
|
|
|
|
|
|
|
|
|
|
|
September 30, 2026 |
|
|
December 31, 2025 |
|
Software |
|
|
10.8 |
% |
|
|
10.7 |
% |
Professional Services |
|
|
8.6 |
% |
|
|
7.3 |
% |
Healthcare Providers and Services |
|
|
8.3 |
% |
|
|
8.8 |
% |
Diversified Financial Services |
|
|
6.2 |
% |
|
|
5.0 |
% |
Chemicals |
|
|
5.8 |
% |
|
|
5.4 |
% |
Short-Term Investments |
|
|
5.6 |
% |
|
|
6.0 |
% |
IT Services |
|
|
5.5 |
% |
|
|
9.6 |
% |
Construction and Engineering |
|
|
4.1 |
% |
|
|
5.0 |
% |
Commercial Services and Supplies |
|
|
3.7 |
% |
|
|
2.0 |
% |
Media |
|
|
3.1 |
% |
|
|
1.6 |
% |
Insurance |
|
|
3.1 |
% |
|
|
3.5 |
% |
Food Products |
|
|
2.4 |
% |
|
|
2.5 |
% |
Containers and Packaging |
|
|
2.4 |
% |
|
|
2.2 |
% |
Hotels, Restaurants and Leisure |
|
|
2.3 |
% |
|
|
2.2 |
% |
Electronic Equipment, Instruments and Components |
|
|
2.0 |
% |
|
|
3.3 |
% |
Interactive Media Services |
|
|
1.8 |
% |
|
|
1.3 |
% |
Healthcare Technology |
|
|
1.8 |
% |
|
|
0.6 |
% |
Building Products |
|
|
1.7 |
% |
|
|
1.8 |
% |
Aerospace and Defense |
|
|
1.6 |
% |
|
|
1.1 |
% |
Machinery |
|
|
1.5 |
% |
|
|
1.8 |
% |
Metals and Mining |
|
|
1.4 |
% |
|
|
1.3 |
% |
Diversified Consumer Services |
|
|
1.4 |
% |
|
|
1.1 |
% |
Auto Components |
|
|
1.3 |
% |
|
|
1.6 |
% |
Household Durables |
|
|
1.3 |
% |
|
|
1.2 |
% |
Trading Companies and Distributors |
|
|
1.2 |
% |
|
|
— |
|
Healthcare Equipment and Supplies |
|
|
1.2 |
% |
|
|
0.7 |
% |
Pharmaceuticals |
|
|
1.0 |
% |
|
|
0.7 |
% |
Real Estate Management and Development |
|
|
0.9 |
% |
|
|
0.6 |
% |
Specialty Retail |
|
|
0.9 |
% |
|
|
1.1 |
% |
Road and Rail |
|
|
0.8 |
% |
|
|
0.7 |
% |
Entertainment |
|
|
0.7 |
% |
|
|
0.2 |
% |
Industrial Conglomerates |
|
|
0.7 |
% |
|
|
0.7 |
% |
Energy Equipment and Services |
|
|
0.6 |
% |
|
|
0.9 |
% |
Diversified Telecommunication Services |
|
|
0.6 |
% |
|
|
0.7 |
% |
Structured Note |
|
|
0.6 |
% |
|
|
2.8 |
% |
Textiles, Apparel & Luxury Goods |
|
|
0.6 |
% |
|
|
0.6 |
% |
Ground Transportation |
|
|
0.4 |
% |
|
|
— |
|
Restaurants |
|
|
0.4 |
% |
|
|
0.3 |
% |
Automotive |
|
|
0.4 |
% |
|
|
0.3 |
% |
Structured Subordinated Note |
|
|
0.3 |
% |
|
|
0.5 |
% |
Passenger Airlines |
|
|
0.3 |
% |
|
|
— |
|
Construction Materials |
|
|
0.3 |
% |
|
|
0.3 |
% |
Semiconductors and Semiconductor Equipment |
|
|
0.2 |
% |
|
|
— |
|
Technology Hardware, Storage & Peripherals |
|
|
0.1 |
% |
|
|
— |
|
Oil, Gas & Consumable Fuels |
|
|
0.1 |
% |
|
|
— |
|
Independent Power and Renewable Electricity Producers |
|
|
— |
|
|
|
1.2 |
% |
Electrical Equipment |
|
|
— |
|
|
|
0.5 |
% |
Household Products |
|
|
— |
|
|
|
0.3 |
% |
Total |
|
|
100 |
% |
|
|
100 |
% |
|
|
|
|
|
|
|
|