[1]

Aggregate gross unrealized gain and loss for federal income tax purposes is $19,046 and $375,298, respectively. Net unrealized loss is $356,252 based on a tax cost of $2,901,398.

[2]

Substantially all securities are pledged as collateral to the Company's credit facilities (see Note 6 to the consolidated financial statements). For investments that are pledged to the Company's credit facilities, a single investment may be divided into parts that are individually pledged as collateral to separate credit facilities. As such, these securities are not available as collateral to our general creditors.

[3]

The following shows the composition of the Company’s portfolio at cost by control designation, investment type and industry as of September 30, 2026:


Industry	First Lien - Secured Debt		Second Lien - Secured Debt		Unsecured Debt		Structured Products and Other		Preferred Equity		Common Equity/Interests		Warrants		Total
Non-Controlled / Non-Affiliated Investments
Aerospace & Defense	$	17,291	$	—	$	—	$	—	$	49	$	110	$	—	$	17,450
Air Freight & Logistics		25,856		—		—		—		—		—		—		25,856
Automobile Components		17,775		—		—		—		—		23,856		—		41,631
Beverages		5,740		—		—		—		100		—		—		5,840
Biotechnology		—		—		—		—		333		—		389		722
Building Products		4,941		—		—		—		—		—		—		4,941
Chemicals		24,854		—		—		—		—		—		—		24,854
Commercial Services & Supplies		93,233		—		—		—		111		683		—		94,027
Communications Equipment		10,331		—		—		—		—		584		—		10,915
Construction & Engineering		57,475		—		—		—		4		50		—		57,529
Consumer Finance		57,635		—		1,842		—		2,943		750		—		63,170
Consumer Staples Distribution & Retail		41,192		—		—		—		—		169		—		41,361
Containers & Packaging		74,758		—		—		—		—		—		—		74,758
Diversified Consumer Services		170,687		—		—		—		—		632		—		171,319
Diversified Telecommunication Services		116		—		1,546		—		—		—		—		1,662
Electrical Equipment		15,441		—		—		—		—		—		—		15,441
Electronic Equipment, Instruments & Components		37,528		—		—		—		—		—		—		37,528
Energy Equipment & Services		3,747		—		—		—		—		—		—		3,747
Entertainment		13,235		—		—		—		—		—		—		13,235
Financial Services		70,346		—		—		—		854		16,973		—		88,173
Food Products		69,569		—		—		—		448		1,688		—		71,705
Ground Transportation		46,727		—		—		—		—		—		—		46,727
Health Care Equipment & Supplies		83,718		—		—		—		—		—		—		83,718
Health Care Providers & Services		263,069		—		—		—		75		418		—		263,562
Health Care Technology		46,327		92		—		—		—		—		—		46,419
Hotels, Restaurants & Leisure		96,912		—		—		—		—		—		—		96,912
Household Durables		30,707		—		—		—		—		—		—		30,707
Insurance		50,864		—		—		—		—		—		—		50,864
Interactive Media & Services		2,173		—		—		—		—		220		—		2,393
IT Services		76,230		—		—		—		10,818		77		—		87,125


Industry	First Lien - Secured Debt		Second Lien - Secured Debt		Unsecured Debt		Structured Products and Other		Preferred Equity		Common Equity/Interests		Warrants		Total
Leisure Products		8,589		—		—		—		492		93		—		9,174
Life Sciences Tools & Services		19,412		—		—		—		—		—		—		19,412
Machinery		62,845		—		—		—		—		—		—		62,845
Media		63,914		—		—		—		557		610		—		65,081
Multi-Utilities		20,276		—		—		—		—		42		—		20,318
Paper & Forest Products		10,462		—		—		—		—		—		—		10,462
Personal Care Products		110,159		—		—		—		—		100		—		110,259
Pharmaceuticals		83,159		—		26		—		215		212		—		83,612
Professional Services		73,862		—		—		—		—		46		—		73,908
Software		294,482		—		—		—		—		669		—		295,151
Specialty Retail		16,366		—		—		—		—		—		—		16,366
Technology Hardware, Storage & Peripherals		25,781		—		—		—		—		—		—		25,781
Textiles, Apparel & Luxury Goods		28,387		—		—		—		—		575		—		28,962
Trading Companies & Distributors		61,074		—		—		—		—		344		—		61,418
Total Non-Controlled / Non-Affiliated Investments	$	2,387,245	$	92	$	3,414	$	—	$	16,999	$	48,901	$	389	$	2,457,040
Non-Controlled / Affiliated Investments
Chemicals		12,500		—		—		—		—		56,505		—		69,005
Consumer Finance		—		—		—		18,290		—		—		—		18,290
Electrical Equipment		7,416		—		—		—		—		—		—		7,416
Electronic Equipment, Instruments & Components		33,869		—		—		—		1,713		—		—		35,582
Financial Services		—		—		—		12,870		—		—		—		12,870
Ground Transportation		33,843		—		—		—		—		722		—		34,565
Health Care Providers & Services		12,145		—		—		—		17,556		—		—		29,701
Hotels, Restaurants & Leisure		8,705		—		—		—		—		4,740		—		13,445
Leisure Products		—		—		—		—		—		1,000		—		1,000
Trading Companies & Distributors		6,644		—		—		—		—		—		—		6,644
Total Non-Controlled / Affiliated Investments	$	115,122	$	—	$	—	$	31,160	$	19,269	$	62,967	$	—	$	228,518
Controlled Investments
Media		70,261		—		—		—		65,249		—		—		135,510
Passenger Airlines		—		—		—		—		—		30,965		—		30,965
Total Controlled Investments	$	70,261	$	—	$	—	$	—	$	65,249	$	30,965	$	—	$	166,475
Total	$	2,572,628	$	92	$	3,414	$	31,160	$	101,517	$	142,833	$	389	$	2,852,033

[4]

The following shows the composition of the Company’s portfolio at cost by control designation, investment type and industry as of December 31, 2025:


Industry	First Lien - Secured Debt		Second Lien - Secured Debt		Unsecured Debt		Structured Products and Other		Preferred Equity		Common Equity/Interests		Warrants		Total
Non-Controlled / Non-Affiliated Investments
Aerospace & Defense	$	17,290	$	—	$	—	$	—	$	49	$	100	$	—	$	17,439
Air Freight & Logistics		26,015		—		—		—		—		—		—		26,015
Automobile Components		18,419		—		—		—		—		23,856		—		42,275
Beverages		5,478		—		—		—		100		—		—		5,578
Biotechnology		26,579		—		—		—		333		—		389		27,301
Building Products		25,117		—		—		—		—		—		—		25,117
Chemicals		29,993		—		—		—		—		—		—		29,993
Commercial Services & Supplies		147,960		—		—		—		111		683		—		148,754
Communications Equipment		10,198		—		—		—		—		584		—		10,782
Construction & Engineering		77,388		—		—		—		4,348		50		—		81,786
Consumer Finance		48,282		—		1,842		—		2,943		750		—		53,817
Consumer Staples Distribution & Retail		38,239		—		—		—		—		169		—		38,408
Containers & Packaging		57,780		—		—		—		—		—		—		57,780
Diversified Consumer Services		203,795		—		—		—		—		632		—		204,427
Diversified Telecommunication Services		70		—		1,483		—		—		—		—		1,553
Electrical Equipment		39,469		—		—		—		—		250		—		39,719
Electronic Equipment, Instruments & Components		76,588		—		—		—		—		—		—		76,588
Energy Equipment & Services		3,502		—		—		—		—		—		—		3,502
Entertainment		27,144		—		—		—		—		—		—		27,144
Financial Services		80,055		—		—		—		534		17,082		—		97,671
Food Products		69,448		—		—		—		448		1,687		—		71,583
Ground Transportation		52,702		—		—		—		—		—		—		52,702
Health Care Equipment & Supplies		118,401		—		—		—		—		1,426		—		119,827
Health Care Providers & Services		304,673		—		—		—		75		418		—		305,166
Health Care Technology		61,984		91		—		—		—		—		—		62,075
Hotels, Restaurants & Leisure		101,083		—		—		—		—		—		—		101,083
Household Durables		30,717		—		—		—		—		—		—		30,717
Insurance		69,793		—		—		—		—		—		—		69,793
Interactive Media & Services		2,190		7,705		—		—		—		—		—		9,895
IT Services		70,674		—		—		—		10,819		77		—		81,570


Industry	First Lien - Secured Debt		Second Lien - Secured Debt		Unsecured Debt		Structured Products and Other		Preferred Equity		Common Equity/Interests		Warrants		Total
Leisure Products	$	8,398		—		—		—		492		93		—	$	8,983
Life Sciences Tools & Services		19,388		—		—		—		—		—		—		19,388
Machinery		66,892		—		—		—		—		—		—		66,892
Media		70,777		—		—		—		473		610		—		71,860
Multi-Utilities		19,825		—		—		—		—		42		—		19,867
Paper & Forest Products		14,683		—		—		—		—		—		—		14,683
Personal Care Products		135,674		—		—		—		—		100		—		135,774
Pharmaceuticals		82,862		—		21		—		215		212		—		83,310
Professional Services		80,378		—		—		—		—		46		—		80,424
Software		367,716		—		—		—		—		669		—		368,385
Specialty Retail		16,740		—		—		—		—		—		—		16,740
Technology Hardware, Storage & Peripherals		14,170		—		—		—		—		—		—		14,170
Textiles, Apparel & Luxury Goods		28,551		—		—		—		—		575		—		29,126
Trading Companies & Distributors		85,680		—		—		—		—		957		—		86,637
Transportation Infrastructure		18,874		—		—		—		—		—		—		18,874
Total Non-Controlled / Non-Affiliated Investments	$	2,871,634	$	7,796	$	3,346	$	—	$	20,940	$	51,068	$	389	$	2,955,173
Non-Controlled / Affiliated Investments
Chemicals		12,500		—		—		—		—		56,505		—		69,005
Consumer Finance		—		—		—		19,409		—		—		—		19,409
Electronic Equipment, Instruments & Components		34,249		—		—		—		1,713		—		—		35,962
Financial Services		—		—		—		14,012		—		—		—		14,012
Ground Transportation		23,389		—		—		—		—		722		—		24,111
Hotels, Restaurants & Leisure		8,739		—		—		—		—		4,740		—		13,479
Leisure Products		—		—		—		—		—		1,000		—		1,000
Total Non-Controlled / Affiliated Investments	$	78,877	$	—	$	—	$	33,421	$	1,713	$	62,967	$	—	$	176,978
Controlled Investments
Media		125,154		—		—		—		6,000		—		—		131,154
Passenger Airlines		18,575		—		—		—		—		74,890		—		93,465
Total Controlled Investments	$	143,729	$	—	$	—	$	—	$	6,000	$	74,890	$	—	$	224,619
Total	$	3,094,240	$	7,796	$	3,346	$	33,421	$	28,653	$	188,925	$	389	$	3,356,770

[5]

Fair value is determined in good faith subject to the oversight of the board of directors of the Company (the “Board”) (See Note 2 to the consolidated financial statements).

[6]

The following shows the composition of the Company’s portfolio at fair value by control designation, investment type and industry as of September 30, 2026:


Industry	First Lien - Secured Debt		Second Lien - Secured Debt		Unsecured Debt		Structured Products and Other		Preferred Equity		Common Equity/Interests		Warrants		Total		% of Net Assets
Non-Controlled / Non-Affiliated Investments
Aerospace & Defense	$	17,345	$	—	$	—	$	—	$	68	$	183	$	—	$	17,596		1.66	%
Air Freight & Logistics		26,145		—		—		—		—		—		—		26,145		2.47	%
Automobile Components		17,396		—		—		—		—		446		—		17,842		1.68	%
Beverages		5,748		—		—		—		100		—		—		5,848		0.55	%
Biotechnology		—		—		—		—		333		133		137		603		0.06	%
Building Products		4,909		—		—		—		—		—		—		4,909		0.46	%
Chemicals		24,396		—		—		—		—		—		—		24,396		2.30	%
Commercial Services & Supplies		93,157		—		—		—		94		592		—		93,843		8.86	%
Communications Equipment		9,649		—		—		—		—		121		—		9,770		0.92	%
Construction & Engineering		51,911		—		—		—		8		32		—		51,951		4.90	%
Consumer Finance		34,346		—		—		—		—		—		—		34,346		3.24	%
Consumer Staples Distribution & Retail		41,089		—		—		—		—		—		—		41,089		3.88	%
Containers & Packaging		74,426		—		—		—		—		—		—		74,426		7.03	%
Diversified Consumer Services		167,940		—		—		—		—		1,283		—		169,223		15.97	%
Diversified Telecommunication Services		82		—		914		—		—		—		—		996		0.09	%
Electrical Equipment		15,588		—		—		—		—		—		—		15,588		1.47	%
Electronic Equipment, Instruments & Components		37,501		—		—		—		—		—		—		37,501		3.54	%
Energy Equipment & Services		3,585		—		—		—		—		—		—		3,585		0.34	%
Entertainment		13,291		—		—		—		—		—		—		13,291		1.25	%
Financial Services		70,350		—		—		—		818		512		—		71,680		6.77	%
Food Products		69,568		—		—		—		597		1,869		—		72,034		6.80	%
Ground Transportation		42,600		—		—		—		—		—		—		42,600		4.02	%
Health Care Equipment & Supplies		84,241		—		—		—		—		—		—		84,241		7.95	%
Health Care Providers & Services		233,218		—		—		—		62		385		—		233,665		22.06	%


Industry	First Lien - Secured Debt			Second Lien - Secured Debt			Unsecured Debt			Structured Products and Other			Preferred Equity			Common Equity/Interests			Warrants			Total			% of Net Assets
Health Care Technology		46,144			52			—			—			—			—			—			46,196			4.36	%
Hotels, Restaurants & Leisure		81,189			—			—			—			—			—			—			81,189			7.66	%
Household Durables		25,111			—			—			—			—			—			—			25,111			2.37	%
Insurance		49,971			—			—			—			—			—			—			49,971			4.72	%
Interactive Media & Services		2,283			—			—			—			—			220			—			2,503			0.24	%
IT Services		71,414			—			—			—			—			165			—			71,579			6.76	%
Leisure Products		8,527			—			—			—			211			109			—			8,847			0.84	%
Life Sciences Tools & Services		18,414			—			—			—			—			—			—			18,414			1.74	%
Machinery		63,290			—			—			—			—			—			—			63,290			5.97	%
Media		62,554			—			—			—			844			586			—			63,984			6.04	%
Multi-Utilities		12,397			—			—			—			—			15			—			12,412			1.17	%
Paper & Forest Products		9,959			—			—			—			—			—			—			9,959			0.94	%
Personal Care Products		107,125			—			—			—			—			242			—			107,367			10.14	%
Pharmaceuticals		80,571			—			—			—			185			199			—			80,955			7.64	%
Professional Services		71,997			—			—			—			—			1,249			—			73,246			6.91	%
Software		276,187			—			—			—			—			1,170			—			277,357			26.18	%
Specialty Retail		16,526			—			—			—			—			—			—			16,526			1.56	%
Technology Hardware, Storage & Peripherals		25,700			—			—			—			—			—			—			25,700			2.43	%
Textiles, Apparel & Luxury Goods		27,615			—			—			—			—			488			—			28,103			2.65	%
Trading Companies & Distributors		60,940			—			—			—			—			415			—			61,355			5.79	%
Total Non-Controlled / Non-Affiliated Investments	$	2,256,395		$	52		$	914		$	—		$	3,320		$	10,414		$	137		$	2,271,232			214.40	%
% of Net Assets		213.00	%		0.00	%		0.09	%		0.00	%		0.31	%		0.98	%		0.01	%		214.40	%


Industry	First Lien - Secured Debt			Second Lien - Secured Debt			Unsecured Debt			Structured Products and Other			Preferred Equity			Common Equity/Interests			Warrants			Total			% of Net Assets
Non-Controlled / Affiliated Investments
Chemicals		12,139			—			—			—			—			13,702			—			25,841			2.44	%
Consumer Finance		—			—			—			2,010			—			—			—			2,010			0.19	%
Electrical Equipment		7,415			—			—			—			—			—			—			7,415			0.70	%
Electronic Equipment, Instruments & Components		29,134			—			—			—			2,728			169			—			32,031			3.02	%
Financial Services		—			—			—			6,569			—			—			—			6,569			0.62	%
Ground Transportation		27,246			—			—			—			—			—			—			27,246			2.57	%
Health Care Providers & Services		8,705			—			—			—			8,812			—			—			17,517			1.65	%
Hotels, Restaurants & Leisure		3,941			—			—			—			—			2,671			—			6,612			0.62	%
Leisure Products		—			—			—			—			—			28			—			28			0.00	%
Trading Companies & Distributors		6,644			—			—			—			—			—			—			6,644			0.63	%
Total Non-Controlled / Affiliated Investments	$	95,224		$	—		$	—		$	8,579		$	11,540		$	16,570		$	—		$	131,913			12.45	%
% of Net Assets		8.99	%		0.00	%		0.00	%		0.81	%		1.09	%		1.56	%		0.00	%		12.45	%
Controlled Investments
Media		69,721			—			—			—			29,750			—			—			99,471			9.39	%
Passenger Airlines		—			—			—			—			—			42,529			—			42,529			4.01	%
Total Controlled Investments	$	69,721		$	—		$	—		$	—		$	29,750		$	42,529		$	—		$	142,000			13.40	%
% of Net Assets		6.58	%		0.00	%		0.00	%		0.00	%		2.81	%		4.01	%		0.00	%		13.40	%
Total	$	2,421,340		$	52		$	914		$	8,579		$	44,610		$	69,513		$	137		$	2,545,145			240.26	%
% of Net Assets		228.57	%		0.00	%		0.09	%		0.81	%		4.21	%		6.56	%		0.01	%		240.26	%

[7]

Fair value is determined in good faith subject to the oversight of the board of directors of the Company (the “Board”) (See Note 2 to the consolidated financial statements).

[8]

The following shows the composition of the Company’s portfolio at fair value by control designation, investment type and industry as of December 31, 2025:


Industry	First Lien - Secured Debt		Second Lien - Secured Debt		Unsecured Debt		Structured Products and Other		Preferred Equity		Common Equity/Interests		Warrants		Total		% of Net Assets
Non-Controlled / Non-Affiliated Investments
Aerospace & Defense	$	17,287	$	—	$	—	$	—	$	49	$	97	$	—	$	17,433		1.33	%
Air Freight & Logistics		26,344		—		—		—		—		—		—		26,344		2.02	%
Automobile Components		17,976		—		—		—		—		219		—		18,195		1.39	%
Beverages		5,466		—		—		—		100		—		—		5,566		0.43	%
Biotechnology		26,754		—		—		—		521		194		326		27,795		2.13	%
Building Products		25,078		—		—		—		—		—		—		25,078		1.92	%
Chemicals		29,619		—		—		—		—		—		—		29,619		2.27	%
Commercial Services & Supplies		148,139		—		—		—		97		390		—		148,626		11.37	%
Communications Equipment		9,967		—		—		—		—		250		—		10,217		0.78	%
Construction & Engineering		73,033		—		—		—		8		37		—		73,078		5.59	%
Consumer Finance		30,346		—		1,842		—		1,563		398		—		34,149		2.61	%
Consumer Staples Distribution & Retail		37,810		—		—		—		—		—		—		37,810		2.89	%
Containers & Packaging		58,036		—		—		—		—		—		—		58,036		4.44	%
Diversified Consumer Services		202,833		—		—		—		—		1,315		—		204,148		15.62	%
Diversified Telecommunication Services		72		—		1,230		—		—		—		—		1,302		0.10	%
Electrical Equipment		33,151		—		—		—		—		—		—		33,151		2.54	%
Electronic Equipment, Instruments & Components		76,851		—		—		—		—		—		—		76,851		5.88	%
Energy Equipment & Services		3,527		—		—		—		—		—		—		3,527		0.27	%
Entertainment		27,098		—		—		—		—		—		—		27,098		2.07	%
Financial Services		79,662		—		—		—		501		527		—		80,690		6.17	%
Food Products		69,402		—		—		—		382		1,726		—		71,510		5.47	%
Ground Transportation		52,525		—		—		—		—		—		—		52,525		4.02	%
Health Care Equipment & Supplies		118,916		—		—		—		—		492		—		119,408		9.13	%
Health Care Providers & Services		286,275		—		—		—		120		440		—		286,835		21.94	%


Industry	First Lien - Secured Debt			Second Lien - Secured Debt			Unsecured Debt			Structured Products and Other			Preferred Equity			Common Equity/Interests			Warrants			Total			% of Net Assets
Health Care Technology		62,528			62			—			—			—			—			—			62,590			4.79	%
Hotels, Restaurants & Leisure		95,180			—			—			—			—			—			—			95,180			7.28	%
Household Durables		26,487			—			—			—			—			—			—			26,487			2.03	%
Insurance		69,912			—			—			—			—			22			—			69,934			5.35	%
Interactive Media & Services		2,324			—			—			—			—			—			—			2,324			0.18	%
IT Services		70,368			—			—			—			6,920			48			—			77,336			5.92	%
Leisure Products		8,333			—			—			—			211			85			—			8,629			0.66	%
Life Sciences Tools & Services		18,832			—			—			—			—			—			—			18,832			1.44	%
Machinery		66,983			—			—			—			—			—			—			66,983			5.12	%
Media		70,451			—			—			—			724			772			—			71,947			5.50	%
Multi-Utilities		16,948			—			—			—			—			36			—			16,984			1.30	%
Paper & Forest Products		14,588			—			—			—			—			—			—			14,588			1.12	%
Personal Care Products		133,689			—			—			—			—			220			—			133,909			10.24	%
Pharmaceuticals		82,282			—			—			—			180			227			—			82,689			6.33	%
Professional Services		79,323			—			—			—			—			1,684			—			81,007			6.20	%
Software		360,073			—			—			—			—			1,119			—			361,192			27.63	%
Specialty Retail		17,017			—			—			—			—			—			—			17,017			1.30	%
Technology Hardware, Storage & Peripherals		14,066			—			—			—			—			—			—			14,066			1.08	%
Textiles, Apparel & Luxury Goods		28,168			—			—			—			—			42			—			28,210			2.16	%
Trading Companies & Distributors		81,132			—			—			—			—			356			—			81,488			6.23	%
Transportation Infrastructure		19,128			—			—			—			—			—			—			19,128			1.46	%
Total Non-Controlled / Non-Affiliated Investments	$	2,793,979		$	62		$	3,072		$	—		$	11,376		$	10,696		$	326		$	2,819,511			215.67	%
% of Net Assets		213.73	%		0.00	%		0.23	%		0.00	%		0.87	%		0.82	%		0.02	%		215.67	%


Industry	First Lien - Secured Debt			Second Lien - Secured Debt			Unsecured Debt			Structured Products and Other			Preferred Equity			Common Equity/Interests			Warrants			Total			% of Net Assets
Non-Controlled / Affiliated Investments
Chemicals		12,373			—			—			—			—			18,332			—			30,705			2.35	%
Consumer Finance		—			—			—			10,317			—			—			—			10,317			0.79	%
Electronic Equipment, Instruments & Components		29,258			—			—			—			2,683			115			—			32,056			2.45	%
Financial Services		—			—			—			8,033			—			—			—			8,033			0.61	%
Ground Transportation		19,344			—			—			—			—			—			—			19,344			1.48	%
Hotels, Restaurants & Leisure		3,962			—			—			—			—			2,628			—			6,590			0.50	%
Leisure Products		—			—			—			—			—			66			—			66			0.01	%
Total Non-Controlled / Affiliated Investments	$	64,937		$	—		$	—		$	18,350		$	2,683		$	21,141		$	—		$	107,111			8.19	%
% of Net Assets		4.96	%		0.00	%		0.00	%		1.40	%		0.21	%		1.62	%		0.00	%		8.19	%
Controlled Investments
Media		125,373			—			—			—			13,045			—			—			138,418			10.59	%
Passenger Airlines		18,575			—			—			—			—			84,223			—			102,798			7.86	%
Total Controlled Investments	$	143,948		$	—		$	—		$	—		$	13,045		$	84,223		$	—		$	241,216			18.45	%
% of Net Assets		11.01	%		0.00	%		0.00	%		0.00	%		1.00	%		6.44	%		0.00	%		18.45	%
Total	$	3,002,864		$	62		$	3,072		$	18,350		$	27,104		$	116,060		$	326		$	3,167,838			242.31	%
% of Net Assets		229.70	%		0.00	%		0.23	%		1.40	%		2.08	%		8.88	%		0.02	%		242.31	%