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Investments
 9 Months Ended
Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
Investments Investments
The composition of the Company’s investment portfolio as of September 30, 2023 and December 31, 2022 at amortized cost and fair value was as follows:
September 30, 2023December 31, 2022
Cost(1)Fair
Value		Percentage of
Investment
Portfolio		Cost(1)Fair
Value		Percentage of
Investment
Portfolio
Senior secured first lien debt$1,529,434 $1,481,498 85.7 %$1,638,995 $1,579,512 90.3 %
Senior secured second lien debt41,196 36,114 2.1 %41,036 38,769 2.2 %
Collateralized securities and structured products - equity2,424 1,224 0.1 %2,687 1,179 0.1 %
Unsecured debt34,640 14,631 0.8 %30,427 22,643 1.3 %
Equity171,194 194,476 11.3 %79,595 107,058 6.1 %
Subtotal/total percentage1,778,888 1,727,943 100.0 %1,792,740 1,749,161 100.0 %
Short term investments(2)116,934 116,934 10,869 10,869 
Total investments$1,895,822 $1,844,877 $1,803,609 $1,760,030 
(1)Cost represents the original cost adjusted for the amortization of premiums and/or accretion of discounts, as applicable, for debt investments and cost for equity investments.
(2)Short term investments represent an investment in a fund that invests in highly liquid investments with average original maturity dates of three months or less.
The following tables show the composition of the Company’s investment portfolio by industry classification and geographic dispersion, and the percentage, by fair value, of the total investment portfolio assets in such industries and geographies as of September 30, 2023 and December 31, 2022:
September 30, 2023December 31, 2022
Industry ClassificationInvestments at
Fair Value		Percentage of
Investment Portfolio		Investments at
Fair Value		Percentage of
Investment Portfolio
Services: Business$292,366 16.8 %$336,055 19.2 %
Healthcare & Pharmaceuticals233,292 13.5 %237,082 13.6 %
Media: Diversified & Production124,271 7.2 %134,927 7.7 %
Media: Advertising, Printing & Publishing113,476 6.6 %105,375 6.0 %
Construction & Building109,283 6.3 %46,007 2.6 %
Services: Consumer105,805 6.1 %115,849 6.6 %
Retail101,301 5.9 %74,718 4.3 %
Chemicals, Plastics & Rubber82,501 4.8 %66,753 3.8 %
Diversified Financials81,093 4.7 %99,819 5.7 %
Energy: Oil & Gas73,837 4.3 %68,756 3.9 %
Consumer Goods: Durable59,890 3.5 %60,735 3.5 %
Beverage, Food & Tobacco52,414 3.0 %45,396 2.6 %
Capital Equipment48,142 2.8 %41,580 2.4 %
Consumer Goods: Non-Durable43,089 2.5 %47,886 2.8 %
Banking, Finance, Insurance & Real Estate38,125 2.2 %43,836 2.5 %
High Tech Industries33,762 2.0 %56,501 3.2 %
Hotel, Gaming & Leisure27,158 1.6 %46,739 2.7 %
Containers, Packaging & Glass19,404 1.1 %19,551 1.1 %
Telecommunications18,311 1.1 %18,302 1.1 %
Metals & Mining15,733 0.9 %15,780 0.9 %
Environmental Industries15,375 0.9 %— — 
Automotive14,471 0.8 %16,255 0.9 %
Aerospace & Defense12,681 0.7 %38,842 2.2 %
Transportation: Cargo12,163 0.7 %12,417 0.7 %
Subtotal/total percentage1,727,943 100.0 %1,749,161 100.0 %
Short term investments116,934 10,869 
Total investments$1,844,877 $1,760,030 
September 30, 2023December 31, 2022
Geographic Dispersion(1)Investments at
Fair Value		Percentage of
Investment Portfolio		Investments at
Fair Value		Percentage of
Investment Portfolio
United States$1,711,830 99.1 %$1,739,866 99.5 %
Canada13,950 0.8 %7,452 0.4 %
Cayman Islands1,224 0.1 %1,179 0.1 %
Bermuda939 — 664 — 
Subtotal/total percentage1,727,943 100.0 %1,749,161 100.0 %
Short term investments116,934 10,869 
Total investments$1,844,877 $1,760,030 
(1)The geographic dispersion is determined by the portfolio company's country of domicile.
As of September 30, 2023 and December 31, 2022, investments on non-accrual status represented 1.0% and 1.3%, respectively, of the Company's investment portfolio on a fair value basis.
The Company’s investment portfolio may contain senior secured investments that are in the form of lines of credit, delayed draw term loans, revolving credit facilities, or unfunded commitments, which may require the Company to provide funding when requested in accordance with the terms of the underlying agreements. As of September 30, 2023 and December 31, 2022, the Company’s unfunded commitments amounted to $59,170 and $71,420, respectively. As of November 3, 2023, the Company’s unfunded commitments amounted to $57,644. Since these commitments may expire without being drawn upon, unfunded commitments do not necessarily represent future cash requirements or future earning assets for the Company.  Refer to Note 11 for further details on the Company’s unfunded commitments.