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Investments (Tables)
 9 Months Ended
Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]  
Summary of Investment Portfolio
The Company’s investment portfolio is summarized as follows as of September 30, 2022 and December 31, 2021 (in thousands):
 As of September 30, 2022
Asset CategoryCostFair ValueFair Value
Percentage of
Investment
Portfolio		Fair Value
Percentage of
Net Assets
Senior secured debt
First lien$101,600 $101,600 16.1 %15.8 %
Second lien75,342 75,342 11.9 11.7 
Total senior secured debt176,942 176,942 28.0 27.5 
Equity299,959 395,984 62.6 61.6 
U.S. Treasury Bills60,067 60,075 9.4 9.4 
Total investments$536,968 $633,001 100.0 %98.5 %

 As of December 31, 2021
Asset CategoryCostFair ValueFair Value
Percentage of
Investment
Portfolio		Fair Value
Percentage of
Net Assets
Senior secured debt
First lien$116,600 $116,600 25.6 %23.3 %
Second lien35,942 35,942 7.9 7.2 
Total senior secured debt152,542 152,542 33.5 30.5 
Equity235,212 303,455 66.5 60.7 
Total investments$387,754 $455,997 100.0 %91.2 %
Industry and Geographic Dispersion of Investment Portfolio as Percentage of Total Fair Value of Investments
The industry dispersion of the Company’s portfolio company investments, based on fair value, as of September 30, 2022 and December 31, 2021 were as follows:
IndustrySeptember 30, 2022December 31, 2021
Engineered Products17.3 %2.8 %
Commercial and Professional Services13.6 15.8 
Real Estate Services13.3 17.2 
Visual Safety Solutions13.1 15.2 
Information Services and Advisory Solutions10.3 12.1 
Healthcare Supplies9.7 10.6 
Sanitation Products8.8 11.1 
Hobby Goods and Supplies7.2 8.7 
Business Services6.7 6.5 
Total100.0 %100.0 %
Summary of Operating and Balance Sheet Data The following tables present unaudited summarized operating data for the quarter and nine months ended September 30, 2022 and 2021, and summarized balance sheet data as of September 30, 2022 (unaudited) and December 31, 2021 for this portfolio company (in thousands):
Lawn Doctor, Inc.
Quarter Ended
September 30,		Nine Months Ended
September 30,
2022202120222021
Revenues$8,414 $7,927 $29,960 $27,716 
Expenses(7,252)(7,318)(26,524)(24,774)
Income before taxes1,162 609 3,436 2,942 
Income tax expense(287)(16)(842)(628)
Consolidated net income875 593 2,594 2,314 
Net (income) loss attributable to non-controlling interests(15)3 18 91 
Net income$860 $596 $2,612 $2,405 
As of September 30, 2022As of December 31, 2021
Current assets$12,145 $13,926 
Non-current assets89,293 92,309 
Current liabilities6,925 7,961 
Non-current liabilities62,777 63,576 
Non-controlling interests(518)(500)
Stockholders’ equity32,254 35,198 
Ownership percentage(1)
61 %61 %
FOOTNOTE:
(1)Represents the Company’s undiluted ownership percentage as of the end of the period presented, rounded to the nearest percent.