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Investments
 9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Investments Investments
The composition of the Company’s investment portfolio as of September 30, 2024 and December 31, 2023 at amortized cost and fair value was as follows:
September 30, 2024December 31, 2023
Cost(1)Fair
Value		Percentage of
Investment
Portfolio		Cost(1)Fair
Value		Percentage of
Investment
Portfolio
Senior secured first lien debt$1,541,136 $1,494,524 85.3 %$1,604,111 $1,565,171 85.0 %
Senior secured second lien debt5,116 3,873 0.2 %41,280 29,111 1.6 %
Collateralized securities and structured products - equity1,003 685 — 2,362 1,096 0.1 %
Unsecured debt29,501 11,761 0.7 %31,693 12,874 0.7 %
Equity219,985 241,883 13.8 %182,738 232,572 12.6 %
Subtotal/total percentage1,796,741 1,752,726 100.0 %1,862,184 1,840,824 100.0 %
Short term investments(2)53,503 53,503 113,446 113,446 
Total investments$1,850,244 $1,806,229 $1,975,630 $1,954,270 
(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, 2024 and December 31, 2023:
September 30, 2024December 31, 2023
Industry ClassificationInvestments at
Fair Value		Percentage of
Investment Portfolio		Investments at
Fair Value		Percentage of
Investment Portfolio
Services: Business$272,919 15.5 %$282,237 15.3 %
Healthcare & Pharmaceuticals224,219 12.6 %238,624 13.0 %
Retail137,725 7.9 %135,000 7.3 %
Media: Diversified & Production131,196 7.5 %135,037 7.3 %
Services: Consumer109,005 6.2 %107,195 5.8 %
Media: Advertising, Printing & Publishing106,365 6.1 %116,100 6.3 %
Construction & Building101,037 5.8 %104,727 5.7 %
Consumer Goods: Durable96,513 5.5 %59,955 3.3 %
Energy: Oil & Gas94,504 5.4 %104,893 5.7 %
Beverage, Food & Tobacco89,320 5.1 %68,780 3.7 %
Banking, Finance, Insurance & Real Estate63,644 3.6 %52,272 2.8 %
Diversified Financials57,421 3.3 %85,733 4.7 %
Hotel, Gaming & Leisure50,199 2.9 %50,906 2.8 %
Capital Equipment39,092 2.2 %49,571 2.7 %
Consumer Goods: Non-Durable33,468 1.9 %42,381 2.3 %
Automotive30,934 1.8 %12,403 0.7 %
Environmental Industries27,413 1.6 %15,336 0.8 %
Containers, Packaging & Glass18,926 1.1 %18,480 1.0 %
High Tech Industries18,529 1.1 %22,671 1.2 %
Metals & Mining14,815 0.8 %13,957 0.8 %
Aerospace & Defense14,000 0.8 %12,000 0.6 %
Transportation: Cargo11,533 0.7 %12,201 0.7 %
Telecommunications6,538 0.4 %17,768 1.0 %
Chemicals, Plastics & Rubber3,411 0.2 %82,597 4.5 %
Subtotal/total percentage1,752,726 100.0 %1,840,824 100.0 %
Short term investments53,503 113,446 
Total investments$1,806,229 $1,954,270 
September 30, 2024December 31, 2023
Geographic Dispersion(1)Investments at
Fair Value		Percentage of
Investment Portfolio		Investments at
Fair Value		Percentage of
Investment Portfolio
United States$1,714,972 97.8 %$1,812,416 98.4 %
Canada36,099 2.1 %26,350 1.4 %
Bermuda970 0.1 %962 0.1 %
Cayman Islands685 — 1,096 0.1 %
Subtotal/total percentage1,752,726 100.0 %1,840,824 100.0 %
Short term investments53,503 113,446 
Total investments$1,806,229 $1,954,270 
(1)The geographic dispersion is determined by the portfolio company's country of domicile.
As of September 30, 2024 and December 31, 2023, investments on non-accrual status represented 1.8% and 0.9%, 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, 2024 and December 31, 2023, the Company’s unfunded commitments amounted to $71,113 and $47,349, respectively. As of October 30, 2024, the Company’s unfunded commitments amounted to $69,980. 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.