v3.26.3
Investment Portfolio (Tables)
 9 Months Ended
Sep. 30, 2026
Investment Company [Abstract]  
Schedule of Investments
The following table summarizes the composition of the Company’s investment portfolio at cost and fair value as of September 30, 2026 and December 31, 2025:
September 30, 2026
(Unaudited)December 31, 2025
Amortized
Cost(1)
Fair ValuePercentage
of Portfolio
Amortized
Cost(1)
Fair ValuePercentage
of Portfolio
Senior Secured Loans—First Lien$7,053 $6,656 58.9 %$7,819 $7,523 57.8 %
Senior Secured Loans—Second Lien544 437 3.9 %598 539 4.2 %
Other Senior Secured Debt43 44 0.4 %65 55 0.4 %
Subordinated Debt109 101 0.9 %122 126 1.0 %
Asset Based Finance1,561 1,314 11.6 %1,831 1,694 13.0 %
Credit Opportunities Partners JV, LLC1,984 1,634 14.4 %2,202 1,968 15.1 %
Equity/Other1,129 1,120 9.9 %1,104 1,104 8.5 %
Total$12,423 $11,306 100.0 %$13,741 $13,009 100.0 %
________________
(1)Amortized cost represents the original cost adjusted for the amortization of premiums and/or accretion of discounts and PIK interest or dividends, as applicable, on investments.
The table below describes investments by industry classification and enumerates the percentage, by fair value, of the total portfolio assets in such industries as of September 30, 2026 and December 31, 2025:
September 30, 2026
(Unaudited)December 31, 2025
Industry ClassificationFair
Value
Percentage of
Portfolio
Fair
Value
Percentage of
Portfolio
Capital Goods$1,295 11.5 %$1,542 11.9 %
Commercial & Professional Services1,326 11.7 %1,726 13.3 %
Consumer Discretionary Distribution & Retail19 0.2 %60 0.5 %
Consumer Durables & Apparel311 2.7 %306 2.4 %
Consumer Services232 2.1 %263 2.0 %
Consumer Staples Distribution & Retail34 0.3 %99 0.8 %
Credit Opportunities Partners JV, LLC1,634 14.4 %1,968 15.1 %
Energy1 0.0 %24 0.2 %
Equity Real Estate Investment Trusts (REITs)199 1.8 %264 2.0 %
Financial Services711 6.3 %836 6.4 %
Food, Beverage & Tobacco23 0.2 %56 0.4 %
Health Care Equipment & Services1,573 13.9 %1,668 12.8 %
Household & Personal Products8 0.1 %112 0.9 %
Insurance514 4.5 %547 4.2 %
Materials292 2.6 %276 2.1 %
Media & Entertainment461 4.1 %508 3.9 %
Pharmaceuticals, Biotechnology & Life Sciences196 1.7 %217 1.7 %
Real Estate Management & Development— — 1 0.0 %
Software & Services2,041 18.1 %2,134 16.4 %
Technology Hardware & Equipment22 0.2 %2 0.0 %
Telecommunication Services62 0.5 %109 0.8 %
Transportation352 3.1 %291 2.2 %
Total $11,306 100.0 %$13,009 100.0 %
Schedule of Nonconsolidated Subsidiary Portfolio
Below is selected balance sheet information for COPJV as of September 30, 2026 and December 31, 2025:
As of
September 30, 2026
(Unaudited)
December 31, 2025
Selected Balance Sheet Information
Total investments, at fair value$4,308.2 $5,058.0 
Cash and other assets230.7 196.6 
Total assets4,538.9 5,254.6 
Debt2,330.9 2,764.9 
Other liabilities142.2 240.6 
Total liabilities2,473.1 3,005.5 
Member’s equity$2,065.8 $2,249.1 
Below is selected statement of operations information for COPJV for the three and nine months ended September 30, 2026 and 2025:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Selected Statement of Operations Information
Investment income
Total investment income$99.1 $102.8 $312.8 $294.0 
Expenses
Interest expense38.3 33.6 116.7 97.0 
Custodian and accounting fees0.4 0.4 1.1 1.1 
Administrative services2.8 3.0 9.5 8.1 
Professional services0.2 0.2 0.8 0.4 
Other general and administrative expenses0.2 0.3 0.9 2.1 
Total expenses41.9 37.5 129.0 108.7 
Net investment income57.2 65.3 183.8 185.3 
Net realized and unrealized gain (loss)(20.8)17.1 (183.1)(16.0)
Net increase in net assets resulting from operations$36.4 $82.4 $0.7 $169.3