| Summary of Investments at Amortized Cost and Fair Value |
The table below presents the Company's investments at amortized cost and fair value as of September 30, 2026, expressed in thousands:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment Type |
|
Fair Value |
|
|
% Fair Value |
|
|
Amortized
Cost |
|
|
% Amortized
Cost |
|
First lien debt investments |
|
$ |
1,985,023 |
|
|
|
98.3 |
% |
|
$ |
1,993,582 |
|
|
|
98.3 |
% |
Mezzanine debt investments |
|
|
1,434 |
|
|
|
0.1 |
% |
|
|
1,434 |
|
|
|
0.1 |
% |
Equity investments |
|
|
33,236 |
|
|
|
1.6 |
% |
|
|
32,071 |
|
|
|
1.6 |
% |
Total as of September 30, 2026 |
|
$ |
2,019,693 |
|
|
|
100.0 |
% |
|
$ |
2,027,087 |
|
|
|
100.0 |
% |
The table below presents the Company's investments at amortized cost and fair value as of December 31, 2025, expressed in thousands:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment Type |
|
Fair Value |
|
|
% Fair Value |
|
|
Amortized
Cost |
|
|
% Amortized
Cost |
|
First lien debt investments |
|
$ |
1,472,716 |
|
|
|
98.9 |
% |
|
$ |
1,486,855 |
|
|
|
98.9 |
% |
Equity investments |
|
|
16,140 |
|
|
|
1.1 |
% |
|
|
15,959 |
|
|
|
1.1 |
% |
Total as of December 31, 2025 |
|
$ |
1,488,856 |
|
|
|
100.0 |
% |
|
$ |
1,502,814 |
|
|
|
100.0 |
% |
|
| Summary of Investments by Industry Composition and Geographic Composition Based on Fair Value |
The tables below present investments by industry composition based on fair value as of September 30, 2026 and December 31, 2025 expressed in thousands:
|
|
|
|
|
|
|
|
|
|
Industry |
|
Fair Value |
|
|
% Fair Value |
|
|
Health Care Equipment & Services |
|
$ |
291,997 |
|
|
|
14.4 |
|
% |
Capital Goods |
|
|
272,332 |
|
|
|
13.4 |
|
|
Energy |
|
|
241,182 |
|
|
|
11.9 |
|
|
Consumer Services |
|
|
209,271 |
|
|
|
10.4 |
|
|
Commercial & Professional Services |
|
|
174,802 |
|
|
|
8.7 |
|
|
Consumer Durables & Apparel |
|
|
170,863 |
|
|
|
8.5 |
|
|
Software & Services |
|
|
101,086 |
|
|
|
5.0 |
|
|
Financial Services |
|
|
100,121 |
|
|
|
5.0 |
|
|
Materials |
|
|
92,604 |
|
|
|
4.6 |
|
|
Household & Personal Products |
|
|
52,057 |
|
|
|
2.6 |
|
|
Transportation |
|
|
42,216 |
|
|
|
2.1 |
|
|
Pharmaceuticals, Biotechnology & Life Sciences |
|
|
41,861 |
|
|
|
2.1 |
|
|
Telecommunication Services |
|
|
39,241 |
|
|
|
1.9 |
|
|
Food, Beverage & Tobacco |
|
|
38,934 |
|
|
|
1.9 |
|
|
Consumer Discretionary Distribution & Retail |
|
|
38,872 |
|
|
|
1.9 |
|
|
Insurance |
|
|
32,439 |
|
|
|
1.6 |
|
|
Technology Hardware & Equipment |
|
|
19,830 |
|
|
|
1.0 |
|
|
Utilities |
|
|
15,569 |
|
|
|
0.8 |
|
|
Equity Real Estate Investment Trusts (REITs) |
|
|
12,661 |
|
|
|
0.6 |
|
|
Real Estate Management & Development |
|
|
11,719 |
|
|
|
0.6 |
|
|
Automobiles & Components |
|
|
11,218 |
|
|
|
0.6 |
|
|
Media & Entertainment |
|
|
8,818 |
|
|
|
0.4 |
|
|
Total as of September 30, 2026 |
|
$ |
2,019,693 |
|
|
|
100.0 |
|
% |
|
|
|
|
|
|
|
|
|
|
Industry |
|
Fair Value |
|
|
% Fair Value |
|
|
Consumer Services |
|
$ |
184,163 |
|
|
|
12.4 |
|
% |
Commercial & Professional Services |
|
|
178,984 |
|
|
|
12.0 |
|
|
Software & Services |
|
|
141,719 |
|
|
|
9.5 |
|
|
Health Care Equipment & Services |
|
|
139,258 |
|
|
|
9.4 |
|
|
Energy |
|
|
137,492 |
|
|
|
9.2 |
|
|
Capital Goods |
|
|
123,412 |
|
|
|
8.3 |
|
|
Consumer Durables & Apparel |
|
|
117,398 |
|
|
|
7.9 |
|
|
Materials |
|
|
105,023 |
|
|
|
7.1 |
|
|
Financial Services |
|
|
91,525 |
|
|
|
6.0 |
|
|
Insurance |
|
|
52,757 |
|
|
|
3.5 |
|
|
Pharmaceuticals, Biotechnology & Life Sciences |
|
|
44,473 |
|
|
|
3.0 |
|
|
Household & Personal Products |
|
|
43,168 |
|
|
|
2.9 |
|
|
Telecommunication Services |
|
|
27,667 |
|
|
|
1.9 |
|
|
Transportation |
|
|
26,064 |
|
|
|
1.8 |
|
|
Food, Beverage & Tobacco |
|
|
19,637 |
|
|
|
1.3 |
|
|
Equity Real Estate Investment Trusts (REITs) |
|
|
12,632 |
|
|
|
0.9 |
|
|
Automobiles & Components |
|
|
10,825 |
|
|
|
0.7 |
|
|
Real Estate Management & Development |
|
|
8,973 |
|
|
|
0.6 |
|
|
Utilities |
|
|
8,885 |
|
|
|
0.6 |
|
|
Consumer Discretionary Distribution & Retail |
|
|
8,106 |
|
|
|
0.5 |
|
|
Technology Hardware & Equipment |
|
|
6,695 |
|
|
|
0.5 |
|
|
Total as of December 31, 2025 |
|
$ |
1,488,856 |
|
|
|
100.0 |
|
% |
Geographic Composition The table below presents investments by geographic composition based on fair value as of September 30, 2026 expressed in thousands:
|
|
|
|
|
|
|
|
|
|
Geographic Risk |
|
Fair Value |
|
|
% Fair Value |
|
|
United States |
|
$ |
1,863,941 |
|
|
|
92.3 |
|
% |
United Kingdom |
|
|
98,502 |
|
|
|
4.9 |
|
|
Canada |
|
|
26,070 |
|
|
|
1.3 |
|
|
Netherlands |
|
|
14,022 |
|
|
|
0.7 |
|
|
Australia |
|
|
9,000 |
|
|
|
0.4 |
|
|
Panama |
|
|
8,158 |
|
|
|
0.4 |
|
|
Total as of September 30, 2026 |
|
$ |
2,019,693 |
|
|
|
100.0 |
|
% |
The table below presents investments by geographic composition based on fair value as of December 31, 2025 expressed in thousands:
|
|
|
|
|
|
|
|
|
|
Geographic Risk |
|
Fair Value |
|
|
% Fair Value |
|
|
United States |
|
$ |
1,362,534 |
|
|
|
91.5 |
|
% |
United Kingdom |
|
|
73,509 |
|
|
|
4.9 |
|
|
Canada |
|
|
26,064 |
|
|
|
1.8 |
|
|
Panama |
|
|
9,975 |
|
|
|
0.7 |
|
|
Australia |
|
|
8,933 |
|
|
|
0.6 |
|
|
Netherlands |
|
|
7,841 |
|
|
|
0.5 |
|
|
Total as of December 31, 2025 |
|
$ |
1,488,856 |
|
|
|
100.0 |
|
% |
|