Investments

6 Months Ended

Jun. 30, 2024

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, 2024				December 31, 2023
Investment Type	Cost		Fair Value		Cost		Fair Value
1st Lien/Senior Secured Debt	$	3,657,938	$	3,676,006	$	1,596,142	$	1,601,418
1st Lien/Last-Out Unitranche		217,073		217,039		166,483		166,684
2nd Lien/Senior Secured Debt		22,098		22,349		20,016		20,017
Preferred Stock		3,101		2,829		—		—
Common Stock		5,214		5,214		—		—
Total investments	$	3,905,424	$	3,923,437	$	1,782,641	$	1,788,119

The industry composition of the Company’s investments as a percentage of fair value and net assets was as follows:

	June 30, 2024							December 31, 2023
Industry	Fair Value				Net Assets			Fair Value				Net Assets
Software		18.0	%			23.2	%		24.4	%			27.4	%
Financial Services		11.6				14.9			7.5				8.4
Trading Companies & Distributors		10.4				13.5			4.5				5.0
Commercial Services & Supplies		9.1				11.7			3.3				3.7
Diversified Consumer Services		6.5				8.3			6.0				6.7
Wireless Telecommunication Services		5.5				7.1			9.3				10.5
Insurance		4.7				6.1			2.1				2.4
Chemicals		4.7				6.0			7.0				7.9
Specialty Retail		2.3				3.0			0.1				0.1
Media		2.2				2.9			4.4				5.0
Professional Services		2.1				2.7			4.4				5.0
Health Care Equipment & Supplies		2.1				2.7			0.2				0.2
Consumer Staples Distribution & Retail		1.8				2.4			3.6				4.0
Health Care Providers & Services		1.7				2.2			4.2				4.7
IT Services		1.6				2.1			2.2				2.5
Building Products		1.6				2.0			0.8				0.9
Oil, Gas & Consumable Fuels		1.4				1.9			0.4				0.5
Distributors		1.4				1.8			2.5				2.8
Aerospace & Defense		1.4				1.8			2.0				2.3
Leisure Products		1.3				1.6			1.6				1.8
Textiles, Apparel & Luxury Goods		1.2				1.5			2.5				2.8
Automobiles		1.1				1.5			2.6				2.9
Pharmaceuticals		1.1				1.4			2.2				2.5
Containers & Packaging		1.0				1.3			0.4				0.4
Automobile Components		0.8				1.0			0.3				0.3
Construction & Engineering		0.7				0.9			0.4				0.4
Entertainment		0.6				0.8			0.1				0.1
Technology Hardware & Equipment		0.3				0.4			0.5				0.6
Energy Equipment & Services		0.3				0.4			—				—
Machinery		0.3				0.3			0.1				0.2
Ground Transportation		0.3				0.3			—		(1)		—		(1)
Electric Utilities		0.2				0.3			0.1				0.1
Household Products		0.2				0.2			—				—
Semiconductors & Semiconductor Equipment		0.2				0.2			—		(1)		—		(1)
Household Durables		0.1				0.1			0.1				0.1
Metals & Mining		0.1				0.1			—				—
Telecommunications		0.1				0.1			0.1				0.1
Food Products		—		(1)		0.1			0.1				0.1
Total		100.0	%			128.8	%		100.0	%			112.4	%

(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, 2024			December 31, 2023
United States		93.3	%		93.3	%
Canada		3.7			6.7
United Kingdom		2.6			—
Australia		0.4			—
Total		100.0	%		100.0	%