Financial Highlights

9 Months Ended

Sep. 30, 2022

Investment Company Financial Highlights [Abstract]

Financial Highlights

Note 11 – Financial Highlights

	Three Months Ended September 30,								Nine Months Ended September 30,
	2022				2021				2022				2021
	(Unaudited)				(Unaudited)				(Unaudited)				(Unaudited)
Per Share Data:
Net asset value at beginning of period	$	14.14			$	14.61			$	14.65			$	14.84
Net investment income(1)(3)		0.36				0.32				1.01				1.04
Realized gain (loss)(1)		0.01				0.02				0.02				(0.13	)
Change in unrealized appreciation (depreciation)(1)		(0.08	)			(0.04	)			(0.70	)			(0.10	)
Dividends(1)		(0.33	)			(0.34	)			(0.90	)			(1.07	)
Accretion (dilution)(1)(4)		0.02				0.03				0.04				0.02
Net asset value at end of period	$	14.12			$	14.60			$	14.12			$	14.60
Total return based on net asset value(2)		(0.14	)	%		(0.07	)	%		(3.62	)	%		(1.62	)	%
Weighted average shares outstanding for the period, basic		40,774,154				33,160,481				41,119,467				32,360,107
Ratio/Supplemental Data:
Net assets at end of period	$	573,660,371			$	504,200,985			$	573,660,371			$	504,200,985
Average net assets(5)	$	577,692,553			$	482,599,112			$	594,469,333			$	479,314,523
Ratio of net operating expenses to average net assets(6)(7)		6.95		%		4.82		%		6.33		%		5.18		%
Ratio of net increase (decrease) in net assets resulting from operations to average net assets(7)		9.91		%		10.06		%		3.58		%		7.80		%
Portfolio turnover rate(8)		6.64		%		18.60		%		19.59		%		35.90		%

1.Financial highlights are based on weighted-average shares outstanding.

2.Total return based on net asset value is based upon the change in net asset value per share between the opening and ending net asset values per share in the period. The total returns are not annualized.

3.Return from investment operations was 2.55% and 2.19% for the three months ended September 30, 2022 and 2021, respectively. Return from investment operations was 6.89% and 7.01% for the nine months ended September 30, 2022 and 2021, respectively. Return from investment operations represents returns on net investment income (loss) from operations.

4.Return from accretion was 0.14% and 0.21% for the three months ended September 30, 2022 and 2021, respectively. Return from accretion was 0.27% and 0.13% for the nine months ended September 30, 2022 and 2021, respectively.

5.The annualized ratio of net investment income to average net assets was 11.82% and 10.48% for the three months ended September 30, 2022 and 2021, respectively. The annualized ratio of net investment income to average net assets was 9.81% and 9.82% for the nine months ended September 30, 2022 and 2021, respectively.

6.The annualized ratio of net operating expenses excluding incentive fees, to average net assets was 6.32% and 4.26% for the three months ended September 30, 2022 and 2021, respectively. The annualized ratio of net operating expenses excluding incentive fees, to average net assets was 4.88% and 3.83% for the nine months ended September 30, 2022 and 2021, respectively.

7.Incentive fees are not annualized.

8.The portfolio turnover rate for the three and nine months ended September 30, 2022 and 2021 equals the lesser of investment portfolio purchases or sales during the period, divided by the average investment portfolio value during the period. As such, portfolio turnover rate is not annualized.