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Investments | 6 Months Ended
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Jun. 30, 2026
Investments, All Other Investments [Abstract] |
Investments | 4. INVESTMENTS The Company’s investments (excluding investments in money market funds, if any) consisted of the following:
|  | June 30, 2026 |  | December 31, 2025 |
Investment Type |  | Cost |  |  | Fair Value |  | Cost |  |  | Fair Value |
1st Lien/Senior Secured Debt |  | $ | 3,076,034 |  |  | $ | 2,963,331 |  | $ | 3,088,308 |  |  | $ | 3,028,788 |
1st Lien/Last-Out Unitranche |  |  | 140,199 |  |  |  | 132,155 |  |  | 138,148 |  |  |  | 135,156 |
2nd Lien/Senior Secured Debt |  |  | 75,910 |  |  |  | 55,118 |  |  | 50,613 |  |  |  | 47,914 |
Unsecured Debt |  |  | 30,231 |  |  |  | 8,569 |  |  | 29,603 |  |  |  | 8,476 |
Preferred Stock |  |  | 33,209 |  |  |  | 20,231 |  |  | 33,101 |  |  |  | 26,426 |
Common Stock |  |  | 53,544 |  |  |  | 15,437 |  |  | 53,544 |  |  |  | 14,714 |
Warrants |  |  | 1,849 |  |  |  | 407 |  |  | 1,849 |  |  |  | 247 |
Total |  | $ | 3,410,976 |  |  | $ | 3,195,248 |  | $ | 3,395,166 |  |  | $ | 3,261,721 |
The Company uses the Global Industry Classification Standard (“GICS”) for classifying the industry groupings of its investments. The industry composition of the Company’s investments as a percentage of fair value and net assets was as follows:
|  | June 30, 2026 |  |  | December 31, 2025 |  |
Industry |  | Fair Value |  |  | Net Assets |  |  | Fair Value |  |  | Net Assets |  |
Software |  |  | 19.6 | % |  |  | 46.0 | % |  |  | 17.6 | % |  |  | 40.2 | % |
Health Care Technology |  |  | 8.6 |  |  |  | 20.3 |  |  |  | 8.4 |  |  |  | 19.3 |  |
Financial Services |  |  | 7.8 |  |  |  | 18.2 |  |  |  | 7.7 |  |  |  | 17.6 |  |
Health Care Providers & Services |  |  | 7.7 |  |  |  | 18.1 |  |  |  | 8.8 |  |  |  | 20.2 |  |
Commercial Services & Supplies |  |  | 7.6 |  |  |  | 17.7 |  |  |  | 7.4 |  |  |  | 16.9 |  |
Diversified Consumer Services |  |  | 7.1 |  |  |  | 16.7 |  |  |  | 6.1 |  |  |  | 14.0 |  |
Professional Services |  |  | 6.4 |  |  |  | 14.9 |  |  |  | 6.8 |  |  |  | 15.6 |  |
Real Estate Mgmt. & Development |  |  | 5.4 |  |  |  | 12.8 |  |  |  | 5.3 |  |  |  | 12.0 |  |
IT Services |  |  | 4.5 |  |  |  | 10.5 |  |  |  | 4.4 |  |  |  | 10.2 |  |
Trading Companies & Distributors |  |  | 3.4 |  |  |  | 8.0 |  |  |  | 3.2 |  |  |  | 7.3 |  |
Wireless Telecommunication Services |  |  | 3.3 |  |  |  | 7.8 |  |  |  | 3.1 |  |  |  | 7.2 |  |
Health Care Equipment & Supplies |  |  | 2.9 |  |  |  | 6.9 |  |  |  | 2.9 |  |  |  | 6.7 |  |
Machinery |  |  | 1.8 |  |  |  | 4.1 |  |  |  | 1.6 |  |  |  | 3.7 |  |
Entertainment |  |  | 1.7 |  |  |  | 4.0 |  |  |  | 1.9 |  |  |  | 4.3 |  |
Containers & Packaging |  |  | 1.7 |  |  |  | 4.0 |  |  |  | 1.7 |  |  |  | 3.8 |  |
Food Products |  |  | 1.2 |  |  |  | 2.8 |  |  |  | 1.0 |  |  |  | 2.4 |  |
Oil, Gas & Consumable Fuels |  |  | 1.2 |  |  |  | 2.7 |  |  |  | 1.1 |  |  |  | 2.6 |  |
Construction & Engineering |  |  | 1.0 |  |  |  | 2.4 |  |  |  | 1.0 |  |  |  | 2.3 |  |
Building Products |  |  | 0.9 |  |  |  | 2.2 |  |  |  | 0.5 |  |  |  | 1.0 |  |
Chemicals |  |  | 0.8 |  |  |  | 2.0 |  |  |  | 1.0 |  |  |  | 2.3 |  |
Interactive Media & Services |  |  | 0.7 |  |  |  | 1.7 |  |  |  | 0.8 |  |  |  | 1.9 |  |
Aerospace & Defense |  |  | 0.7 |  |  |  | 1.6 |  |  |  | 0.7 |  |  |  | 1.5 |  |
Textiles, Apparel & Luxury Goods |  |  | 0.6 |  |  |  | 1.4 |  |  |  | 0.7 |  |  |  | 1.7 |  |
Air Freight & Logistics |  |  | 0.6 |  |  |  | 1.4 |  |  |  | 0.4 |  |  |  | 0.9 |  |
Hotels, Restaurants & Leisure |  |  | 0.5 |  |  |  | 1.2 |  |  |  | 0.5 |  |  |  | 1.2 |  |
Pharmaceuticals |  |  | 0.5 |  |  |  | 1.1 |  |  |  | 0.5 |  |  |  | 1.2 |  |
Media |  |  | 0.4 |  |  |  | 1.0 |  |  |  | 0.3 |  |  |  | 0.7 |  |
Beverages |  |  | 0.4 |  |  |  | 0.9 |  |  |  | 0.6 |  |  |  | 1.5 |  |
Automobile Components |  |  | 0.2 |  |  |  | 0.5 |  |  |  | 0.3 |  |  |  | 0.6 |  |
Energy Equipment & Services |  |  | 0.2 |  |  |  | 0.4 |  |  |  | 0.2 |  |  |  | 0.4 |  |
Capital Markets |  |  | 0.2 |  |  |  | 0.4 |  |  |  | 0.2 |  |  |  | 0.4 |  |
Leisure Products |  |  | 0.1 |  |  |  | 0.3 |  |  |  | 0.1 |  |  |  | 0.3 |  |
Consumer Staples Distribution & Retail |  |  | 0.1 |  |  |  | 0.3 |  |  |  | 0.1 |  |  |  | 0.3 |  |
Broadline Retail |  |  | 0.1 |  |  |  | 0.3 |  |  |  | 0.6 |  |  |  | 1.3 |  |
Insurance |  |  | 0.1 |  |  |  | 0.3 |  |  |  | — |  | (1) |  | 0.1 |  |
Electrical Equipment |  |  | — |  | (1) |  | 0.1 |  |  |  | — |  | (1) |  | — |  | (1)
Communications Equipment |  |  | — |  | (1) |  | 0.1 |  |  |  | 0.1 |  |  |  | 0.1 |  |
Independent Power and Renewable Electricity Producers |  |  | — |  | (1) |  | 0.1 |  |  |  | 1.6 |  |  |  | 3.7 |  |
Household Products |  |  | — |  | (1) |  | 0.1 |  |  |  | — |  | (1) |  | 0.1 |  |
Specialty Retail |  |  | — |  |  |  | — |  |  |  | 0.8 |  |  |  | 1.7 |  |
Total |  |  | 100.0 | % |  |  | 235.3 | % |  |  | 100.0 | % |  |  | 229.2 | % |
(1) Amount rounds to less than 0.1%. The geographic composition of the Company’s investments at fair value was as follows:
Geographic |  | June 30, 2026 |  |  | December 31, 2025 |  |
United States |  |  | 94.6 | % |  |  | 94.8 | % |
Canada |  |  | 3.3 |  |  |  | 3.2 |  |
United Kingdom |  |  | 1.5 |  |  |  | 1.5 |  |
India |  |  | 0.6 |  |  |  | 0.5 |  |
Total |  |  | 100.0 | % |  |  | 100.0 | % |

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- Definition The entire disclosure for investment. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 321 -Publisher FASB -URI https://asc.fasb.org/321/tableOfContent Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 325 -Publisher FASB -URI https://asc.fasb.org/325/tableOfContent + Details
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- References No definition available. + Details
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