v3.26.3
CONSOLIDATED SCHEDULE OF INVESTMENTS (unaudited) - Composition of the Company's Portfolio at Cost by Investment Type and Industry - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Investment cost $ 970,553 $ 962,492 [1],[2],[3]
Investments at fair value $ 928,024 $ 942,796 [1],[3],[4],[5]
% of Net Assets 242.50% 237.60%
Non-controlled/Non-affiliated Investments    
Investment cost $ 963,432 $ 955,289
Investments at fair value $ 923,810 $ 936,374
% of Net Assets 241.40% 236.00%
Non-controlled/Affiliated Investments    
Investment cost $ 7,121 $ 7,203
Investments at fair value $ 4,214 $ 6,422
% of Net Assets 1.10% 1.60%
Aerospace & Defense | Non-controlled/Non-affiliated Investments    
Investment cost $ 18,241 [6] $ 9,098 [2]
Investments at fair value $ 18,325 [7],[8] $ 9,096 [4],[5]
% of Net Assets 4.80% 2.30%
Air Freight & Logistics | Non-controlled/Non-affiliated Investments    
Investment cost $ 16,020 [6] $ 15,924 [2]
Investments at fair value $ 12,607 [7],[8] $ 13,324 [4],[5]
% of Net Assets 3.30% 3.40%
Automobile Components | Non-controlled/Non-affiliated Investments    
Investment cost $ 15,472 [6] $ 12,457 [2]
Investments at fair value $ 15,348 [7],[8] $ 12,352 [4],[5]
% of Net Assets 4.00% 3.10%
Beverages | Non-controlled/Non-affiliated Investments    
Investment cost $ 4,898 [6] $ 3,702 [2]
Investments at fair value $ 4,896 [7],[8] $ 3,694 [4],[5]
% of Net Assets 1.30% 0.90%
Building Products | Non-controlled/Non-affiliated Investments    
Investment cost $ 4,519 [6] $ 13,549 [2]
Investments at fair value $ 4,542 [7],[8] $ 13,536 [4],[5]
% of Net Assets 1.20% 3.40%
Chemicals | Non-controlled/Non-affiliated Investments    
Investment cost $ 15,898 [6] $ 17,626 [2]
Investments at fair value $ 15,484 [7],[8] $ 17,277 [4],[5]
% of Net Assets 4.00% 4.40%
Commercial Services & Supplies | Non-controlled/Non-affiliated Investments    
Investment cost $ 61,223 [6] $ 47,472 [2]
Investments at fair value $ 57,196 [7],[8] $ 46,911 [4],[5]
% of Net Assets 14.90% 11.80%
Construction & Engineering | Non-controlled/Non-affiliated Investments    
Investment cost $ 27,961 [6] $ 39,796 [2]
Investments at fair value $ 25,728 [7],[8] $ 39,994 [4],[5]
% of Net Assets 6.70% 10.10%
Consumer Staples Distribution & Retail | Non-controlled/Non-affiliated Investments    
Investment cost $ 18,061 [6] $ 16,060 [2]
Investments at fair value $ 18,027 [7],[8] $ 15,907 [4],[5]
% of Net Assets 4.70% 4.00%
Containers & Packaging | Non-controlled/Non-affiliated Investments    
Investment cost $ 38,795 $ 29,902 [2]
Investments at fair value $ 38,546 [7] $ 29,999 [4],[5]
% of Net Assets 10.10% 7.60%
Diversified Consumer Services | Non-controlled/Non-affiliated Investments    
Investment cost $ 51,245 [6] $ 59,006 [2]
Investments at fair value $ 51,095 [7],[8] $ 58,955 [4],[5]
% of Net Assets 13.30% 14.90%
Electric Utilities | Non-controlled/Non-affiliated Investments    
Investment cost $ 3,289  
Investments at fair value $ 3,289  
% of Net Assets 0.90%  
Electrical Equipment | Non-controlled/Non-affiliated Investments    
Investment cost $ 21,040 [6] $ 26,276 [2]
Investments at fair value $ 21,189 [7],[8] $ 23,475 [4],[5]
% of Net Assets 5.50% 5.90%
Electronic Equipment, Instruments & Components | Non-controlled/Non-affiliated Investments    
Investment cost $ 39,718 $ 32,097
Investments at fair value $ 39,356 $ 32,118
% of Net Assets 10.30% 8.10%
Entertainment | Non-controlled/Non-affiliated Investments    
Investment cost   $ 12,053
Investments at fair value   $ 11,994
% of Net Assets   3.00%
Financial Services | Non-controlled/Non-affiliated Investments    
Investment cost $ 35,091 $ 30,539
Investments at fair value $ 34,873 $ 30,328
% of Net Assets 9.10% 7.60%
Food Products | Non-controlled/Non-affiliated Investments    
Investment cost $ 35,893 [6] $ 30,699 [2]
Investments at fair value $ 35,460 [7] $ 30,432 [4],[5]
% of Net Assets 9.30% 7.70%
Ground Transportation | Non-controlled/Non-affiliated Investments    
Investment cost $ 7,832 [6] $ 7,608 [2]
Investments at fair value $ 6,828 [7] $ 7,526 [4],[5]
% of Net Assets 1.80% 1.90%
Health Care Equipment & Supplies | Non-controlled/Non-affiliated Investments    
Investment cost $ 34,546 [6] $ 44,544 [2]
Investments at fair value $ 34,247 [7],[8] $ 44,319 [4],[5]
% of Net Assets 8.90% 11.20%
Health Care Providers & Services | Non-controlled/Non-affiliated Investments    
Investment cost $ 135,618 [6],[9] $ 132,047 [2]
Investments at fair value $ 127,782 [7],[8],[9] $ 127,485 [4],[5]
% of Net Assets 33.40% 32.20%
Health Care Technology | Non-controlled/Non-affiliated Investments    
Investment cost $ 18,097 [6] $ 17,935 [2]
Investments at fair value $ 12,701 [7],[8] $ 14,384 [4],[5]
% of Net Assets 3.30% 3.60%
Hotels, Restaurants & Leisure    
Investment cost $ 30,154 [6] $ 32,779 [2]
Investments at fair value 24,700 [7],[8] 31,173 [4],[5]
Hotels, Restaurants & Leisure | Non-controlled/Non-affiliated Investments    
Investment cost 23,033 25,576
Investments at fair value $ 20,486 $ 24,751
% of Net Assets 5.40% 6.20%
Hotels, Restaurants & Leisure | Non-controlled/Affiliated Investments    
Investment cost $ 7,121 $ 7,203
Investments at fair value $ 4,214 $ 6,422
% of Net Assets 1.10% 1.60%
Insurance | Non-controlled/Non-affiliated Investments    
Investment cost $ 15,409 $ 15,484
Investments at fair value $ 15,431 $ 15,571
% of Net Assets 4.00% 3.90%
Household Products | Non-controlled/Non-affiliated Investments    
Investment cost $ 9,246 $ 7,721
Investments at fair value $ 9,080 $ 7,740
% of Net Assets 2.40% 2.00%
IT Services | Non-controlled/Non-affiliated Investments    
Investment cost $ 23,057 [6] $ 19,439 [2]
Investments at fair value $ 21,644 [7],[8] $ 19,325 [4],[5]
% of Net Assets 5.70% 4.90%
Leisure Products | Non-controlled/Non-affiliated Investments    
Investment cost $ 12,990 [6] $ 12,970 [2]
Investments at fair value $ 11,477 [7],[8] $ 12,894 [4],[5]
% of Net Assets 3.00% 3.20%
Machinery | Non-controlled/Non-affiliated Investments    
Investment cost $ 38,379 [6] $ 33,018 [2]
Investments at fair value $ 38,445 [7],[8] $ 32,983 [4],[5]
% of Net Assets 10.00% 8.30%
Media | Non-controlled/Non-affiliated Investments    
Investment cost $ 27,999 [6] $ 26,824 [2]
Investments at fair value $ 27,709 [7],[8] $ 26,614 [4],[5]
% of Net Assets 7.20% 6.70%
Multi-Utilities | Non-controlled/Non-affiliated Investments    
Investment cost $ 16,115 [6] $ 15,983 [2]
Investments at fair value $ 11,362 [7],[8] $ 14,477 [4],[5]
% of Net Assets 3.00% 3.60%
Paper & Forest Products | Non-controlled/Non-affiliated Investments    
Investment cost $ 5,237 [6],[7],[8],[10] $ 7,345 [2]
Investments at fair value $ 4,979 [7],[8],[10] $ 7,294 [4],[5]
% of Net Assets 1.30% 1.80%
Personal Care Products | Non-controlled/Non-affiliated Investments    
Investment cost $ 33,740 [6] $ 34,814 [2]
Investments at fair value $ 33,198 [7],[8] $ 34,415 [4],[5]
% of Net Assets 8.70% 8.70%
Pharmaceuticals | Non-controlled/Non-affiliated Investments    
Investment cost $ 39,961 [6] $ 43,250 [2]
Investments at fair value $ 37,788 [7],[8] $ 42,607 [4],[5]
% of Net Assets 9.90% 10.70%
Professional Services | Non-controlled/Non-affiliated Investments    
Investment cost $ 27,547 [6] $ 26,136 [2]
Investments at fair value $ 27,519 [7],[8] $ 26,096 [4],[5]
% of Net Assets 7.20% 6.60%
Real Estate Management & Development | Non-controlled/Non-affiliated Investments    
Investment cost $ 3,162  
Investments at fair value $ 3,159  
% of Net Assets 0.80%  
Software | Non-controlled/Non-affiliated Investments    
Investment cost $ 25,418 [6] $ 42,942 [2]
Investments at fair value $ 25,226 [7],[8] $ 43,016 [4],[5]
% of Net Assets 6.60% 10.80%
Specialty Retail | Non-controlled/Non-affiliated Investments    
Investment cost $ 9,695 [6] $ 9,722 [2]
Investments at fair value $ 9,719 [7],[8] $ 9,737 [4],[5]
% of Net Assets 2.50% 2.50%
Trading Companies & Distributors | Non-controlled/Non-affiliated Investments    
Investment cost $ 27,619 [6] $ 23,883 [2]
Investments at fair value $ 27,751 [7],[8] $ 23,955 [4],[5]
% of Net Assets 7.30% 6.00%
Technology Hardware, Storage & Peripherals | Non-controlled/Non-affiliated Investments    
Investment cost $ 11,955  
Investments at fair value $ 12,021  
% of Net Assets 3.20%  
Transportation Infrastructure | Non-controlled/Non-affiliated Investments    
Investment cost [2]   $ 3,871
Investments at fair value [4],[5]   $ 3,916
% of Net Assets   1.00%
Wireless Telecommunication Services | Non-controlled/Non-affiliated Investments    
Investment cost $ 9,413 [6] $ 7,921 [2]
Investments at fair value $ 9,297 [7],[8] $ 7,877 [4],[5]
% of Net Assets 2.40% 2.00%
First Lien Secured Debt    
Investment cost $ 962,651 $ 954,701
Investments at fair value $ 927,363 $ 938,801
% of Net Assets 242.30% 236.60%
First Lien Secured Debt | Non-controlled/Non-affiliated Investments    
Investment cost $ 957,190 $ 949,157
Investments at fair value $ 923,149 $ 933,458
% of Net Assets 241.20% 235.30%
First Lien Secured Debt | Non-controlled/Affiliated Investments    
Investment cost $ 5,461 $ 5,544
Investments at fair value $ 4,214 $ 5,343
% of Net Assets 1.10% 1.30%
First Lien Secured Debt | Aerospace & Defense | Non-controlled/Non-affiliated Investments    
Investment cost $ 18,137 $ 8,999
Investments at fair value 18,163 8,998
First Lien Secured Debt | Air Freight & Logistics | Non-controlled/Non-affiliated Investments    
Investment cost 13,284 13,188
Investments at fair value 12,607 13,324
First Lien Secured Debt | Automobile Components | Non-controlled/Non-affiliated Investments    
Investment cost 15,438 12,423
Investments at fair value 15,334 12,334
First Lien Secured Debt | Beverages | Non-controlled/Non-affiliated Investments    
Investment cost 4,846 3,652
Investments at fair value 4,844 3,644
First Lien Secured Debt | Building Products | Non-controlled/Non-affiliated Investments    
Investment cost 4,519 13,549
Investments at fair value 4,542 13,536
First Lien Secured Debt | Chemicals | Non-controlled/Non-affiliated Investments    
Investment cost 15,898 17,626
Investments at fair value 15,484 17,277
First Lien Secured Debt | Commercial Services & Supplies | Non-controlled/Non-affiliated Investments    
Investment cost 58,409 44,657
Investments at fair value 57,196 44,467
First Lien Secured Debt | Construction & Engineering | Non-controlled/Non-affiliated Investments    
Investment cost 27,961 39,796
Investments at fair value 25,728 39,994
First Lien Secured Debt | Consumer Staples Distribution & Retail | Non-controlled/Non-affiliated Investments    
Investment cost 18,061 16,060
Investments at fair value 18,027 15,907
First Lien Secured Debt | Containers & Packaging | Non-controlled/Non-affiliated Investments    
Investment cost 38,795 29,902
Investments at fair value 38,546 29,999
First Lien Secured Debt | Diversified Consumer Services | Non-controlled/Non-affiliated Investments    
Investment cost 51,245 59,006
Investments at fair value 51,095 58,955
First Lien Secured Debt | Electric Utilities | Non-controlled/Non-affiliated Investments    
Investment cost 3,289  
Investments at fair value 3,289  
First Lien Secured Debt | Electrical Equipment | Non-controlled/Non-affiliated Investments    
Investment cost 21,040 26,276
Investments at fair value 21,189 23,475
First Lien Secured Debt | Electronic Equipment, Instruments & Components | Non-controlled/Non-affiliated Investments    
Investment cost 39,718 32,097
Investments at fair value 39,356 32,118
First Lien Secured Debt | Entertainment | Non-controlled/Non-affiliated Investments    
Investment cost   12,053
Investments at fair value   11,994
First Lien Secured Debt | Financial Services | Non-controlled/Non-affiliated Investments    
Investment cost 35,091 30,539
Investments at fair value 34,873 30,328
First Lien Secured Debt | Food Products | Non-controlled/Non-affiliated Investments    
Investment cost 35,793 30,599
Investments at fair value 35,361 30,332
First Lien Secured Debt | Ground Transportation | Non-controlled/Non-affiliated Investments    
Investment cost 7,832 7,608
Investments at fair value 6,828 7,526
First Lien Secured Debt | Health Care Equipment & Supplies | Non-controlled/Non-affiliated Investments    
Investment cost 34,546 44,544
Investments at fair value 34,247 44,319
First Lien Secured Debt | Health Care Providers & Services | Non-controlled/Non-affiliated Investments    
Investment cost 135,518 131,947
Investments at fair value 127,647 127,385
First Lien Secured Debt | Health Care Technology | Non-controlled/Non-affiliated Investments    
Investment cost 18,097 17,935
Investments at fair value 12,701 14,384
First Lien Secured Debt | Hotels, Restaurants & Leisure | Non-controlled/Non-affiliated Investments    
Investment cost 23,033 25,576
Investments at fair value 20,486 24,751
First Lien Secured Debt | Hotels, Restaurants & Leisure | Non-controlled/Affiliated Investments    
Investment cost 5,461 5,544
Investments at fair value 4,214 5,343
First Lien Secured Debt | Insurance | Non-controlled/Non-affiliated Investments    
Investment cost 15,409 15,484
Investments at fair value 15,431 15,571
First Lien Secured Debt | Household Products | Non-controlled/Non-affiliated Investments    
Investment cost 9,246 7,721
Investments at fair value 9,080 7,740
First Lien Secured Debt | IT Services | Non-controlled/Non-affiliated Investments    
Investment cost 23,057 19,439
Investments at fair value 21,644 19,325
First Lien Secured Debt | Leisure Products | Non-controlled/Non-affiliated Investments    
Investment cost 12,990 12,970
Investments at fair value 11,477 12,894
First Lien Secured Debt | Machinery | Non-controlled/Non-affiliated Investments    
Investment cost 38,379 33,018
Investments at fair value 38,445 32,983
First Lien Secured Debt | Media | Non-controlled/Non-affiliated Investments    
Investment cost 27,999 26,824
Investments at fair value 27,709 26,614
First Lien Secured Debt | Multi-Utilities | Non-controlled/Non-affiliated Investments    
Investment cost 16,115 15,983
Investments at fair value 11,362 14,477
First Lien Secured Debt | Paper & Forest Products | Non-controlled/Non-affiliated Investments    
Investment cost 5,237 7,345
Investments at fair value 4,979 7,294
First Lien Secured Debt | Personal Care Products | Non-controlled/Non-affiliated Investments    
Investment cost 33,740 34,814
Investments at fair value 33,198 34,415
First Lien Secured Debt | Pharmaceuticals | Non-controlled/Non-affiliated Investments    
Investment cost 39,789 43,082
Investments at fair value 37,753 42,554
First Lien Secured Debt | Professional Services | Non-controlled/Non-affiliated Investments    
Investment cost 27,547 26,136
Investments at fair value 27,519 26,096
First Lien Secured Debt | Real Estate Management & Development | Non-controlled/Non-affiliated Investments    
Investment cost 3,062  
Investments at fair value 3,066  
First Lien Secured Debt | Software | Non-controlled/Non-affiliated Investments    
Investment cost 25,418 42,942
Investments at fair value 25,226 43,016
First Lien Secured Debt | Specialty Retail | Non-controlled/Non-affiliated Investments    
Investment cost 9,695 9,722
Investments at fair value 9,719 9,737
First Lien Secured Debt | Trading Companies & Distributors | Non-controlled/Non-affiliated Investments    
Investment cost 27,589 23,853
Investments at fair value 27,680 23,902
First Lien Secured Debt | Technology Hardware, Storage & Peripherals | Non-controlled/Non-affiliated Investments    
Investment cost 11,955  
Investments at fair value 12,021  
First Lien Secured Debt | Transportation Infrastructure | Non-controlled/Non-affiliated Investments    
Investment cost   3,871
Investments at fair value   3,916
First Lien Secured Debt | Wireless Telecommunication Services | Non-controlled/Non-affiliated Investments    
Investment cost 9,413 7,921
Investments at fair value 9,297 7,877
Unsecured Debt    
Investment cost 23 19
Investments at fair value $ 0 $ 0
% of Net Assets 0.00% 0.00%
Unsecured Debt | Non-controlled/Non-affiliated Investments    
Investment cost $ 23 $ 19
Investments at fair value $ 0 $ 0
% of Net Assets   0.00%
Unsecured Debt | Non-controlled/Affiliated Investments    
% of Net Assets 0.00% 0.00%
Unsecured Debt | Pharmaceuticals | Non-controlled/Non-affiliated Investments    
Investment cost $ 23 $ 19
Common Equity    
Investment cost 7,879 7,772
Investments at fair value $ 661 $ 3,995
% of Net Assets 0.20% 1.00%
Common Equity | Non-controlled/Non-affiliated Investments    
Investment cost $ 6,219 $ 6,113
Investments at fair value $ 661 $ 2,916
% of Net Assets 0.20% 0.70%
Common Equity | Non-controlled/Affiliated Investments    
Investment cost $ 1,660 $ 1,659
Investments at fair value $ 0 $ 1,079
% of Net Assets 0.00% 0.30%
Common Equity | Aerospace & Defense | Non-controlled/Non-affiliated Investments    
Investment cost $ 104 $ 99
Investments at fair value 162 98
Common Equity | Air Freight & Logistics | Non-controlled/Non-affiliated Investments    
Investment cost 2,736 2,736
Investments at fair value   0
Common Equity | Automobile Components | Non-controlled/Non-affiliated Investments    
Investment cost 34 34
Investments at fair value 14 18
Common Equity | Beverages | Non-controlled/Non-affiliated Investments    
Investment cost 52 50
Investments at fair value 52 50
Common Equity | Commercial Services & Supplies | Non-controlled/Non-affiliated Investments    
Investment cost 2,814 2,815
Investments at fair value   2,444
Common Equity | Food Products | Non-controlled/Non-affiliated Investments    
Investment cost 100 100
Investments at fair value 99 100
Common Equity | Health Care Providers & Services | Non-controlled/Non-affiliated Investments    
Investment cost 100 100
Investments at fair value 135 100
Common Equity | Hotels, Restaurants & Leisure | Non-controlled/Affiliated Investments    
Investment cost 1,660 1,659
Investments at fair value 0 1,079
Common Equity | Pharmaceuticals | Non-controlled/Non-affiliated Investments    
Investment cost 149 149
Investments at fair value 35 53
Common Equity | Real Estate Management & Development | Non-controlled/Non-affiliated Investments    
Investment cost 100  
Investments at fair value 93  
Common Equity | Trading Companies & Distributors | Non-controlled/Non-affiliated Investments    
Investment cost 30 30
Investments at fair value $ 71 $ 53
[1] Currently there are no differences for federal income tax purposes as it relates to unrealized gain and loss.
[2] The following shows the composition of the Company’s portfolio at cost by investment type and industry as of December 31, 2025:

 

Industry

 

 

First Lien - Secured Debt

 

 

Unsecured Debt

 

Common Equity

 

 

Total

 

Non-Controlled / Non-Affiliated Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace & Defense

 

 

$

 

8,999

 

 

$

 

—

 

$

 

99

 

 

$

 

9,098

 

Air Freight & Logistics

 

 

 

 

13,188

 

 

 

 

—

 

 

 

2,736

 

 

 

 

15,924

 

Automobile Components

 

 

 

 

12,423

 

 

 

 

—

 

 

 

34

 

 

 

 

12,457

 

Beverages

 

 

 

 

3,652

 

 

 

 

—

 

 

 

50

 

 

 

 

3,702

 

Building Products

 

 

 

 

13,549

 

 

 

 

—

 

 

 

—

 

 

 

 

13,549

 

Chemicals

 

 

 

 

17,626

 

 

 

 

—

 

 

 

—

 

 

 

 

17,626

 

Commercial Services & Supplies

 

 

 

 

44,657

 

 

 

 

—

 

 

 

2,815

 

 

 

 

47,472

 

Construction & Engineering

 

 

 

 

39,796

 

 

 

 

—

 

 

 

—

 

 

 

 

39,796

 

Consumer Staples Distribution & Retail

 

 

 

 

16,060

 

 

 

 

—

 

 

 

—

 

 

 

 

16,060

 

Containers & Packaging

 

 

 

 

29,902

 

 

 

 

—

 

 

 

—

 

 

 

 

29,902

 

Diversified Consumer Services

 

 

 

 

59,006

 

 

 

 

—

 

 

 

—

 

 

 

 

59,006

 

Electrical Equipment

 

 

 

 

26,276

 

 

 

 

—

 

 

 

—

 

 

 

 

26,276

 

Electronic Equipment, Instruments & Components

 

 

 

 

32,097

 

 

 

 

—

 

 

 

—

 

 

 

 

32,097

 

Entertainment

 

 

 

 

12,053

 

 

 

 

—

 

 

 

—

 

 

 

 

12,053

 

Financial Services

 

 

 

 

30,539

 

 

 

 

—

 

 

 

—

 

 

 

 

30,539

 

Food Products

 

 

 

 

30,599

 

 

 

 

—

 

 

 

100

 

 

 

 

30,699

 

Ground Transportation

 

 

 

 

7,608

 

 

 

 

—

 

 

 

—

 

 

 

 

7,608

 

Health Care Equipment & Supplies

 

 

 

 

44,544

 

 

 

 

—

 

 

 

—

 

 

 

 

44,544

 

Health Care Providers & Services

 

 

 

 

131,947

 

 

 

 

—

 

 

 

100

 

 

 

 

132,047

 

Health Care Technology

 

 

 

 

17,935

 

 

 

 

—

 

 

 

—

 

 

 

 

17,935

 

Hotels, Restaurants & Leisure

 

 

 

 

25,576

 

 

 

 

—

 

 

 

—

 

 

 

 

25,576

 

Household Products

 

 

 

 

7,721

 

 

 

 

—

 

 

 

—

 

 

 

 

7,721

 

Insurance

 

 

 

 

15,484

 

 

 

 

—

 

 

 

—

 

 

 

 

15,484

 

IT Services

 

 

 

 

19,439

 

 

 

 

—

 

 

 

—

 

 

 

 

19,439

 

Leisure Products

 

 

 

 

12,970

 

 

 

 

—

 

 

 

—

 

 

 

 

12,970

 

Machinery

 

 

 

 

33,018

 

 

 

 

—

 

 

 

—

 

 

 

 

33,018

 

Media

 

 

 

 

26,824

 

 

 

 

—

 

 

 

—

 

 

 

 

26,824

 

Multi-Utilities

 

 

 

 

15,983

 

 

 

 

—

 

 

 

—

 

 

 

 

15,983

 

Paper & Forest Products

 

 

 

 

7,345

 

 

 

 

—

 

 

 

—

 

 

 

 

7,345

 

Personal Care Products

 

 

 

 

34,814

 

 

 

 

—

 

 

 

—

 

 

 

 

34,814

 

Pharmaceuticals

 

 

 

 

43,082

 

 

 

 

19

 

 

 

149

 

 

 

 

43,250

 

Professional Services

 

 

 

 

26,136

 

 

 

 

—

 

 

 

—

 

 

 

 

26,136

 

Software

 

 

 

 

42,942

 

 

 

 

—

 

 

 

—

 

 

 

 

42,942

 

Specialty Retail

 

 

 

 

9,722

 

 

 

 

—

 

 

 

—

 

 

 

 

9,722

 

Trading Companies & Distributors

 

 

 

 

23,853

 

 

 

 

—

 

 

 

30

 

 

 

 

23,883

 

Transportation Infrastructure

 

 

 

 

3,871

 

 

 

 

—

 

 

 

—

 

 

 

 

3,871

 

Wireless Telecommunication Services

 

 

 

 

7,921

 

 

 

 

—

 

 

 

—

 

 

 

 

7,921

 

Total Non-Controlled / Non-Affiliated Investments

 

 

$

 

949,157

 

 

$

 

19

 

$

 

6,113

 

 

$

 

955,289

 

Non-Controlled / Affiliated Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hotels, Restaurants & Leisure

 

 

 

 

5,544

 

 

 

 

—

 

 

 

1,659

 

 

 

 

7,203

 

Total Non-Controlled / Affiliated Investments

 

 

$

 

5,544

 

 

$

 

—

 

$

 

1,659

 

 

$

 

7,203

 

Total

 

 

$

 

954,701

 

 

$

 

19

 

$

 

7,772

 

 

$

 

962,492

 

 

 

 
[3] Unless otherwise indicated, all securities are pledged as collateral to our credit facility (the “AP Leaf Secured Credit Facility” as defined in Note 5 to the financial statements). As such, these securities are not available as collateral to our general creditors.
[4] Fair value is determined in good faith subject to the oversight of the board of trustees of the Company (the "Board") (see Note 2 to the consolidated financial statements).
[5] The following shows the composition of the Company’s portfolio at fair value by investment type, industry and region as of December 31, 2025:

 

Industry

 

 

First Lien - Secured Debt

 

 

Unsecured Debt

 

 

Common Equity

 

 

Total

 

 

% of Net Assets

 

Non-Controlled / Non-Affiliated Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace & Defense

 

 

$

 

8,998

 

 

$

 

—

 

 

$

 

98

 

 

$

 

9,096

 

 

 

2.3

%

Air Freight & Logistics

 

 

 

 

13,324

 

 

 

 

—

 

 

 

 

—

 

 

 

 

13,324

 

 

 

3.4

%

Automobile Components

 

 

 

 

12,334

 

 

 

 

—

 

 

 

 

18

 

 

 

 

12,352

 

 

 

3.1

%

Beverages

 

 

 

 

3,644

 

 

 

 

—

 

 

 

 

50

 

 

 

 

3,694

 

 

 

0.9

%

Building Products

 

 

 

 

13,536

 

 

 

 

—

 

 

 

 

—

 

 

 

 

13,536

 

 

 

3.4

%

Chemicals

 

 

 

 

17,277

 

 

 

 

—

 

 

 

 

—

 

 

 

 

17,277

 

 

 

4.4

%

Commercial Services & Supplies

 

 

 

 

44,467

 

 

 

 

—

 

 

 

 

2,444

 

 

 

 

46,911

 

 

 

11.8

%

Construction & Engineering

 

 

 

 

39,994

 

 

 

 

—

 

 

 

 

—

 

 

 

 

39,994

 

 

 

10.1

%

Consumer Staples Distribution & Retail

 

 

 

 

15,907

 

 

 

 

—

 

 

 

 

—

 

 

 

 

15,907

 

 

 

4.0

%

Containers & Packaging

 

 

 

 

29,999

 

 

 

 

—

 

 

 

 

—

 

 

 

 

29,999

 

 

 

7.6

%

Diversified Consumer Services

 

 

 

 

58,955

 

 

 

 

—

 

 

 

 

—

 

 

 

 

58,955

 

 

 

14.9

%

Electrical Equipment

 

 

 

 

23,475

 

 

 

 

—

 

 

 

 

—

 

 

 

 

23,475

 

 

 

5.9

%

Electronic Equipment, Instruments & Components

 

 

 

 

32,118

 

 

 

 

—

 

 

 

 

—

 

 

 

 

32,118

 

 

 

8.1

%

Entertainment

 

 

 

 

11,994

 

 

 

 

—

 

 

 

 

—

 

 

 

 

11,994

 

 

 

3.0

%

Financial Services

 

 

 

 

30,328

 

 

 

 

—

 

 

 

 

—

 

 

 

 

30,328

 

 

 

7.6

%

Food Products

 

 

 

 

30,332

 

 

 

 

—

 

 

 

 

100

 

 

 

 

30,432

 

 

 

7.7

%

Ground Transportation

 

 

 

 

7,526

 

 

 

 

—

 

 

 

 

—

 

 

 

 

7,526

 

 

 

1.9

%

Health Care Equipment & Supplies

 

 

 

 

44,319

 

 

 

 

—

 

 

 

 

—

 

 

 

 

44,319

 

 

 

11.2

%

Health Care Providers & Services

 

 

 

 

127,385

 

 

 

 

—

 

 

 

 

100

 

 

 

 

127,485

 

 

 

32.2

%

Health Care Technology

 

 

 

 

14,384

 

 

 

 

—

 

 

 

 

—

 

 

 

 

14,384

 

 

 

3.6

%

Hotels, Restaurants & Leisure

 

 

 

 

24,751

 

 

 

 

—

 

 

 

 

—

 

 

 

 

24,751

 

 

 

6.2

%

Household Products

 

 

 

 

7,740

 

 

 

 

—

 

 

 

 

—

 

 

 

 

7,740

 

 

 

2.0

%

Insurance

 

 

 

 

15,571

 

 

 

 

—

 

 

 

 

—

 

 

 

 

15,571

 

 

 

3.9

%

IT Services

 

 

 

 

19,325

 

 

 

 

—

 

 

 

 

—

 

 

 

 

19,325

 

 

 

4.9

%

Leisure Products

 

 

 

 

12,894

 

 

 

 

—

 

 

 

 

—

 

 

 

 

12,894

 

 

 

3.2

%

Machinery

 

 

 

 

32,983

 

 

 

 

—

 

 

 

 

—

 

 

 

 

32,983

 

 

 

8.3

%

Media

 

 

 

 

26,614

 

 

 

 

—

 

 

 

 

—

 

 

 

 

26,614

 

 

 

6.7

%

Multi-Utilities

 

 

 

 

14,477

 

 

 

 

—

 

 

 

 

—

 

 

 

 

14,477

 

 

 

3.6

%

Paper & Forest Products

 

 

 

 

7,294

 

 

 

 

—

 

 

 

 

—

 

 

 

 

7,294

 

 

 

1.8

%

Personal Care Products

 

 

 

 

34,415

 

 

 

 

—

 

 

 

 

—

 

 

 

 

34,415

 

 

 

8.7

%

Pharmaceuticals

 

 

 

 

42,554

 

 

 

 

—

 

 

 

 

53

 

 

 

 

42,607

 

 

 

10.7

%

Professional Services

 

 

 

 

26,096

 

 

 

 

—

 

 

 

 

—

 

 

 

 

26,096

 

 

 

6.6

%

Software

 

 

 

 

43,016

 

 

 

 

—

 

 

 

 

—

 

 

 

 

43,016

 

 

 

10.8

%

Specialty Retail

 

 

 

 

9,737

 

 

 

 

—

 

 

 

 

—

 

 

 

 

9,737

 

 

 

2.5

%

Trading Companies & Distributors

 

 

 

 

23,902

 

 

 

 

—

 

 

 

 

53

 

 

 

 

23,955

 

 

 

6.0

%

Transportation Infrastructure

 

 

 

 

3,916

 

 

 

 

—

 

 

 

 

—

 

 

 

 

3,916

 

 

 

1.0

%

Wireless Telecommunication Services

 

 

 

 

7,877

 

 

 

 

—

 

 

 

 

—

 

 

 

 

7,877

 

 

 

2.0

%

Total Non-Controlled / Non-Affiliated Investments

 

 

$

 

933,458

 

 

$

 

—

 

 

$

 

2,916

 

 

$

 

936,374

 

 

 

236.0

%

% of Net Assets

 

 

 

 

235.3

%

 

 

 

0.0

%

 

 

 

0.7

%

 

 

 

236.0

%

 

 

 

Non-Controlled / Affiliated Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hotels, Restaurants & Leisure

 

 

 

 

5,343

 

 

 

 

—

 

 

 

 

1,079

 

 

 

 

6,422

 

 

 

1.6

%

Total Non-Controlled / Affiliated Investments

 

 

$

 

5,343

 

 

$

 

—

 

 

$

 

1,079

 

 

$

 

6,422

 

 

 

1.6

%

% of Net Assets

 

 

 

 

1.3

%

 

 

 

0.0

%

 

 

 

0.3

%

 

 

 

1.6

%

 

 

 

Total

 

 

$

 

938,801

 

 

$

 

—

 

 

$

 

3,995

 

 

$

 

942,796

 

 

 

237.6

%

% of Net Assets

 

 

 

 

236.6

%

 

 

 

0.0

%

 

 

 

1.0

%

 

 

 

237.6

%

 

 

 

 

Industry Classification

Percentage of Total
Investments (at Fair Value)
as of December 31, 2025

 

Health Care Providers & Services

 

13.5

%

Diversified Consumer Services

 

6.3

%

Commercial Services & Supplies

 

5.0

%

Health Care Equipment & Supplies

 

4.7

%

Software

 

4.6

%

Pharmaceuticals

 

4.5

%

Construction & Engineering

 

4.2

%

Personal Care Products

 

3.7

%

Machinery

 

3.5

%

Electronic Equipment, Instruments & Components

 

3.4

%

Hotels, Restaurants & Leisure

 

3.3

%

Food Products

 

3.2

%

Financial Services

 

3.2

%

Containers & Packaging

 

3.2

%

Media

 

2.8

%

Professional Services

 

2.8

%

Trading Companies & Distributors

 

2.5

%

Electrical Equipment

 

2.5

%

IT Services

 

2.0

%

Chemicals

 

1.8

%

Consumer Staples Distribution & Retail

 

1.7

%

Insurance

 

1.7

%

Multi-Utilities

 

1.5

%

Health Care Technology

 

1.5

%

Building Products

 

1.4

%

Air Freight & Logistics

 

1.4

%

Leisure Products

 

1.4

%

Automobile Components

 

1.3

%

Entertainment

 

1.3

%

Specialty Retail

 

1.0

%

Aerospace & Defense

 

1.0

%

Wireless Telecommunication Services

 

0.8

%

Household Products

 

0.8

%

Ground Transportation

 

0.8

%

Paper & Forest Products

 

0.8

%

Transportation Infrastructure

 

0.4

%

Beverages

 

0.4

%

 

 

100.0

%

 

Geographic Region

December 31, 2025

 

United States

 

94.6

%

United Kingdom

 

2.7

%

Canada

 

2.3

%

Luxembourg

 

0.4

%
[6] The following shows the composition of the Company’s portfolio at cost by investment type and industry as of September 30, 2026:

 

Industry

 

 

First Lien - Secured Debt

 

 

Unsecured Debt

 

 

Common Equity

 

 

Total

 

Non-Controlled / Non-Affiliated Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace & Defense

 

 

$

 

18,137

 

 

$

 

—

 

 

$

 

104

 

 

$

 

18,241

 

Air Freight & Logistics

 

 

 

 

13,284

 

 

 

 

—

 

 

 

 

2,736

 

 

 

 

16,020

 

Automobile Components

 

 

 

 

15,438

 

 

 

 

—

 

 

 

 

34

 

 

 

 

15,472

 

Beverages

 

 

 

 

4,846

 

 

 

 

—

 

 

 

 

52

 

 

 

 

4,898

 

Building Products

 

 

 

 

4,519

 

 

 

 

—

 

 

 

 

—

 

 

 

 

4,519

 

Chemicals

 

 

 

 

15,898

 

 

 

 

—

 

 

 

 

—

 

 

 

 

15,898

 

Commercial Services & Supplies

 

 

 

 

58,409

 

 

 

 

—

 

 

 

 

2,814

 

 

 

 

61,223

 

Construction & Engineering

 

 

 

 

27,961

 

 

 

 

—

 

 

 

 

—

 

 

 

 

27,961

 

Consumer Staples Distribution & Retail

 

 

 

 

18,061

 

 

 

 

—

 

 

 

 

—

 

 

 

 

18,061

 

Containers & Packaging

 

 

 

 

38,795

 

 

 

 

—

 

 

 

 

—

 

 

 

 

38,795

 

Diversified Consumer Services

 

 

 

 

51,245

 

 

 

 

—

 

 

 

 

—

 

 

 

 

51,245

 

Electric Utilities

 

 

 

 

3,289

 

 

 

 

—

 

 

 

 

—

 

 

 

 

3,289

 

Electrical Equipment

 

 

 

 

21,040

 

 

 

 

—

 

 

 

 

—

 

 

 

 

21,040

 

Electronic Equipment, Instruments & Components

 

 

 

 

39,718

 

 

 

 

—

 

 

 

 

—

 

 

 

 

39,718

 

Financial Services

 

 

 

 

35,091

 

 

 

 

—

 

 

 

 

—

 

 

 

 

35,091

 

Food Products

 

 

 

 

35,793

 

 

 

 

—

 

 

 

 

100

 

 

 

 

35,893

 

Ground Transportation

 

 

 

 

7,832

 

 

 

 

—

 

 

 

 

—

 

 

 

 

7,832

 

Health Care Equipment & Supplies

 

 

 

 

34,546

 

 

 

 

—

 

 

 

 

—

 

 

 

 

34,546

 

Health Care Providers & Services

 

 

 

 

135,518

 

 

 

 

—

 

 

 

 

100

 

 

 

 

135,618

 

Health Care Technology

 

 

 

 

18,097

 

 

 

 

—

 

 

 

 

—

 

 

 

 

18,097

 

Hotels, Restaurants & Leisure

 

 

 

 

23,033

 

 

 

 

—

 

 

 

 

—

 

 

 

 

23,033

 

Household Products

 

 

 

 

9,246

 

 

 

 

—

 

 

 

 

—

 

 

 

 

9,246

 

Insurance

 

 

 

 

15,409

 

 

 

 

—

 

 

 

 

—

 

 

 

 

15,409

 

IT Services

 

 

 

 

23,057

 

 

 

 

—

 

 

 

 

—

 

 

 

 

23,057

 

Leisure Products

 

 

 

 

12,990

 

 

 

 

—

 

 

 

 

—

 

 

 

 

12,990

 

Machinery

 

 

 

 

38,379

 

 

 

 

—

 

 

 

 

—

 

 

 

 

38,379

 

Media

 

 

 

 

27,999

 

 

 

 

—

 

 

 

 

—

 

 

 

 

27,999

 

Multi-Utilities

 

 

 

 

16,115

 

 

 

 

—

 

 

 

 

—

 

 

 

 

16,115

 

Paper & Forest Products

 

 

 

 

5,237

 

 

 

 

—

 

 

 

 

—

 

 

 

 

5,237

 

Personal Care Products

 

 

 

 

33,740

 

 

 

 

—

 

 

 

 

—

 

 

 

 

33,740

 

Pharmaceuticals

 

 

 

 

39,789

 

 

 

 

23

 

 

 

 

149

 

 

 

 

39,961

 

Professional Services

 

 

 

 

27,547

 

 

 

 

—

 

 

 

 

—

 

 

 

 

27,547

 

Real Estate Management & Development

 

 

 

 

3,062

 

 

 

 

—

 

 

 

 

100

 

 

 

 

3,162

 

Software

 

 

 

 

25,418

 

 

 

 

—

 

 

 

 

—

 

 

 

 

25,418

 

Specialty Retail

 

 

 

 

9,695

 

 

 

 

—

 

 

 

 

—

 

 

 

 

9,695

 

Technology Hardware, Storage & Peripherals

 

 

 

 

11,955

 

 

 

 

—

 

 

 

 

—

 

 

 

 

11,955

 

Trading Companies & Distributors

 

 

 

 

27,589

 

 

 

 

—

 

 

 

 

30

 

 

 

 

27,619

 

Wireless Telecommunication Services

 

 

 

 

9,413

 

 

 

 

—

 

 

 

 

—

 

 

 

 

9,413

 

Total Non-Controlled / Non-Affiliated Investments

 

$

 

957,190

 

 

$

 

23

 

 

$

 

6,219

 

 

$

 

963,432

 

Non-Controlled / Affiliated Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hotels, Restaurants & Leisure

 

 

 

 

5,461

 

 

 

 

—

 

 

 

 

1,660

 

 

 

 

7,121

 

Total Non-Controlled / Affiliated Investments

 

$

 

5,461

 

 

$

 

—

 

 

$

 

1,660

 

 

$

 

7,121

 

Total

 

 

$

 

962,651

 

 

$

 

23

 

 

$

 

7,879

 

 

$

 

970,553

 
[7] Apollo Credit Management, LLC, as "valuation designee" (the "Adviser") is responsible for determining fair value, subject to the oversight of the Board of Trustees 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 investment type, industry and region as of September 30, 2026:

 

Industry

 

 

First Lien - Secured Debt

 

 

Unsecured Debt

 

 

Common Equity

 

 

Total

 

 

% of Net Assets

 

Non-Controlled / Non-Affiliated Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace & Defense

 

 

$

 

18,163

 

 

$

 

—

 

 

$

 

162

 

 

$

 

18,325

 

 

 

4.8

%

Air Freight & Logistics

 

 

 

 

12,607

 

 

 

 

—

 

 

 

 

—

 

 

 

 

12,607

 

 

 

3.3

%

Automobile Components

 

 

 

 

15,334

 

 

 

 

—

 

 

 

 

14

 

 

 

 

15,348

 

 

 

4.0

%

Beverages

 

 

 

 

4,844

 

 

 

 

—

 

 

 

 

52

 

 

 

 

4,896

 

 

 

1.3

%

Building Products

 

 

 

 

4,542

 

 

 

 

—

 

 

 

 

—

 

 

 

 

4,542

 

 

 

1.2

%

Chemicals

 

 

 

 

15,484

 

 

 

 

—

 

 

 

 

—

 

 

 

 

15,484

 

 

 

4.0

%

Commercial Services & Supplies

 

 

 

 

57,196

 

 

 

 

—

 

 

 

 

—

 

 

 

 

57,196

 

 

 

14.9

%

Construction & Engineering

 

 

 

 

25,728

 

 

 

 

—

 

 

 

 

—

 

 

 

 

25,728

 

 

 

6.7

%

Consumer Staples Distribution & Retail

 

 

 

 

18,027

 

 

 

 

—

 

 

 

 

—

 

 

 

 

18,027

 

 

 

4.7

%

Containers & Packaging

 

 

 

 

38,546

 

 

 

 

—

 

 

 

 

—

 

 

 

 

38,546

 

 

 

10.1

%

Diversified Consumer Services

 

 

 

 

51,095

 

 

 

 

—

 

 

 

 

—

 

 

 

 

51,095

 

 

 

13.3

%

Electric Utilities

 

 

 

 

3,289

 

 

 

 

—

 

 

 

 

—

 

 

 

 

3,289

 

 

 

0.9

%

Electrical Equipment

 

 

 

 

21,189

 

 

 

 

—

 

 

 

 

—

 

 

 

 

21,189

 

 

 

5.5

%

Electronic Equipment, Instruments & Components

 

 

 

 

39,356

 

 

 

 

—

 

 

 

 

—

 

 

 

 

39,356

 

 

 

10.3

%

Financial Services

 

 

 

 

34,873

 

 

 

 

—

 

 

 

 

—

 

 

 

 

34,873

 

 

 

9.1

%

Food Products

 

 

 

 

35,361

 

 

 

 

—

 

 

 

 

99

 

 

 

 

35,460

 

 

 

9.3

%

Ground Transportation

 

 

 

 

6,828

 

 

 

 

—

 

 

 

 

—

 

 

 

 

6,828

 

 

 

1.8

%

Health Care Equipment & Supplies

 

 

 

 

34,247

 

 

 

 

—

 

 

 

 

—

 

 

 

 

34,247

 

 

 

8.9

%

Health Care Providers & Services

 

 

 

 

127,647

 

 

 

 

—

 

 

 

 

135

 

 

 

 

127,782

 

 

 

33.4

%

Health Care Technology

 

 

 

 

12,701

 

 

 

 

—

 

 

 

 

—

 

 

 

 

12,701

 

 

 

3.3

%

Hotels, Restaurants & Leisure

 

 

 

 

20,486

 

 

 

 

—

 

 

 

 

—

 

 

 

 

20,486

 

 

 

5.4

%

Household Products

 

 

 

 

9,080

 

 

 

 

—

 

 

 

 

—

 

 

 

 

9,080

 

 

 

2.4

%

Insurance

 

 

 

 

15,431

 

 

 

 

—

 

 

 

 

—

 

 

 

 

15,431

 

 

 

4.0

%

IT Services

 

 

 

 

21,644

 

 

 

 

—

 

 

 

 

—

 

 

 

 

21,644

 

 

 

5.7

%

Leisure Products

 

 

 

 

11,477

 

 

 

 

—

 

 

 

 

—

 

 

 

 

11,477

 

 

 

3.0

%

Machinery

 

 

 

 

38,445

 

 

 

 

—

 

 

 

 

—

 

 

 

 

38,445

 

 

 

10.0

%

Media

 

 

 

 

27,709

 

 

 

 

—

 

 

 

 

—

 

 

 

 

27,709

 

 

 

7.2

%

Multi-Utilities

 

 

 

 

11,362

 

 

 

 

—

 

 

 

 

—

 

 

 

 

11,362

 

 

 

3.0

%

Paper & Forest Products

 

 

 

 

4,979

 

 

 

 

—

 

 

 

 

—

 

 

 

 

4,979

 

 

 

1.3

%

Personal Care Products

 

 

 

 

33,198

 

 

 

 

—

 

 

 

 

—

 

 

 

 

33,198

 

 

 

8.7

%

Pharmaceuticals

 

 

 

 

37,753

 

 

 

 

—

 

 

 

 

35

 

 

 

 

37,788

 

 

 

9.9

%

Professional Services

 

 

 

 

27,519

 

 

 

 

—

 

 

 

 

—

 

 

 

 

27,519

 

 

 

7.2

%

Real Estate Management & Development

 

 

 

 

3,066

 

 

 

 

—

 

 

 

 

93

 

 

 

 

3,159

 

 

 

0.8

%

Software

 

 

 

 

25,226

 

 

 

 

—

 

 

 

 

—

 

 

 

 

25,226

 

 

 

6.6

%

Specialty Retail

 

 

 

 

9,719

 

 

 

 

—

 

 

 

 

—

 

 

 

 

9,719

 

 

 

2.5

%

Technology Hardware, Storage & Peripherals

 

 

 

 

12,021

 

 

 

 

—

 

 

 

 

—

 

 

 

 

12,021

 

 

 

3.2

%

Trading Companies & Distributors

 

 

 

 

27,680

 

 

 

 

—

 

 

 

 

71

 

 

 

 

27,751

 

 

 

7.3

%

Wireless Telecommunication Services

 

 

 

 

9,297

 

 

 

 

—

 

 

 

 

—

 

 

 

 

9,297

 

 

 

2.4

%

Total Non-Controlled / Non-Affiliated Investments

$

 

923,149

 

 

$

 

—

 

 

$

 

661

 

 

$

 

923,810

 

 

 

241.4

%

% of Net Assets

 

 

241.2

%

 

 

 

0.0

%

 

 

 

0.2

%

 

 

 

241.4

%

 

 

 

Non-Controlled / Affiliated Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hotels, Restaurants & Leisure

 

 

 

 

4,214

 

 

 

 

—

 

 

 

 

—

 

 

 

 

4,214

 

 

 

1.1

%

Total Non-Controlled / Affiliated Investments

$

 

4,214

 

 

$

 

—

 

 

$

 

—

 

 

$

 

4,214

 

 

 

1.1

%

% of Net Assets

 

 

 

 

1.1

%

 

 

 

0.0

%

 

 

 

0.0

%

 

 

 

1.1

%

 

 

 

Total

 

 

$

 

927,363

 

 

$

 

—

 

 

$

 

661

 

 

$

 

928,024

 

 

 

242.5

%

% of Net Assets

 

 

 

 

242.3

%

 

 

 

0.0

%

 

 

 

0.2

%

 

 

 

242.5

%

 

 

 

 

Industry Classification

Percentage of Total
Investments (at Fair Value)
as of September 30, 2026

 

Health Care Providers & Services

 

13.6

%

Commercial Services & Supplies

 

6.2

%

Diversified Consumer Services

 

5.5

%

Electronic Equipment, Instruments & Components

 

4.2

%

Containers & Packaging

 

4.2

%

Machinery

 

4.1

%

Pharmaceuticals

 

4.1

%

Food Products

 

3.8

%

Financial Services

 

3.8

%

Health Care Equipment & Supplies

 

3.7

%

Personal Care Products

 

3.6

%

Trading Companies & Distributors

 

3.0

%

Media

 

3.0

%

Professional Services

 

3.0

%

Construction & Engineering

 

2.8

%

Software

 

2.7

%

Hotels, Restaurants & Leisure

 

2.7

%

IT Services

 

2.3

%

Electrical Equipment

 

2.3

%

Aerospace & Defense

 

2.0

%

Consumer Staples Distribution & Retail

 

1.9

%

Chemicals

 

1.7

%

Insurance

 

1.7

%

Automobile Components

 

1.7

%

Health Care Technology

 

1.4

%

Air Freight & Logistics

 

1.4

%

Technology Hardware, Storage & Peripherals

 

1.3

%

Leisure Products

 

1.2

%

Multi-Utilities

 

1.2

%

Specialty Retail

 

1.0

%

Wireless Telecommunication Services

 

1.0

%

Household Products

 

1.0

%

Ground Transportation

 

0.7

%

Paper & Forest Products

 

0.5

%

Beverages

 

0.5

%

Building Products

 

0.5

%

Electric Utilities

 

0.4

%

Real Estate Management & Development

 

0.3

%

 

 

100.0

%

 

Geographic Region

September 30, 2026

 

United States

 

95.5

%

United Kingdom

 

2.7

%

Canada

 

1.8

%
[9] These are co-investments made with the Company’s affiliates in accordance with the terms of the exemptive order the Company received from the Securities and Exchange Commission (“SEC”) permitting us to do so. (See Note 3 to the consolidated financial statements for discussion of the exemptive order from the SEC.)
[10] The interest rate on these loans is subject to 3 months SOFR, which as of September 30, 2026 was 4.08%.