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Portfolio

Predominantly comprised of floating rate senior secured loans across a diverse group of sectors and issuers.

Investments at fair value

$13.9B

as of March 31, 2026

First lien senior secured

97.6%

as of March 31, 2026

Floating rate debt investments

95.8%

as of March 31, 2026

Loan-to-Value ratio [ 1 ]

51.7%

as of March 31, 2026

Portfolio Snapshot

Asset Type

Pie Chart - Asset Type: First Lien Debt, 97.6%; Second Lien Debt, 1.6%; Equity, 0.7%; Unsecured Debt, 0.1%. Pie Chart - Asset Type: First Lien Debt, 97.6%; Second Lien Debt, 1.6%; Equity, 0.7%; Unsecured Debt, 0.1%.

Floating v. Fixed [ 2 ]

Pie Chart - Floating vs Fixed: Floating Rate, 95.8%; Fixed Rate, 4.2%. Pie Chart - Floating vs Fixed: Floating Rate, 95.8%; Fixed Rate, 4.2%.

Geography

Pie Chart - Geography: United States, 85.5%; Europe, 12.2%; Bermuda/Cayman Islands, 1.1%; Canada, 1.1%; Others, 0.1%. Pie Chart - Geography: United States, 85.5%; Europe, 12.2%; Bermuda/Cayman Islands, 1.1%; Canada, 1.1%; Others, 0.1%.

Top Industries (at FMV) [ 3 ]

Pie Chart - Top Industries: Software, 21%; Professional Services, 10%; Health Care Providers & Services, 10%; Insurance, 9%; Commercial Services & Supplies, 8%; Health Care Technology, 4%; IT Services, 4%; Diversified Consumer Services, 4%; Aerospace & Defense, 4%; Transportation Infrastructure, 3%; Other, 23%. Pie Chart - Top Industries: Software, 21%; Professional Services, 10%; Health Care Providers & Services, 10%; Insurance, 9%; Commercial Services & Supplies, 8%; Health Care Technology, 4%; IT Services, 4%; Diversified Consumer Services, 4%; Aerospace & Defense, 4%; Transportation Infrastructure, 3%; Other, 23%.

Top Portfolio Holdings

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Top Portfolio Holdings

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Company Asset Type Sector Fair Value ($ in thousands)
Snoopy Bidco, Inc. First Lien Health Care Providers & Services 338,012
JSS Holdings, Inc. First Lien Commercial Services & Supplies 329,719
Guidehouse, Inc.  First Lien Professional Services 313,544
Auctane, Inc. First Lien Software 281,570
Cambium Learning Group, Inc. First Lien Diversified Consumer Services 274,013
Corfin Holdings, Inc. First Lien Aerospace & Defense 262,160
Medallia, Inc.  First Lien Software 238,110
Bazaarvoice Inc. First Lien Commercial Services & Supplies 236,955
Navigator Acquiror, Inc. First Lien Health Care Providers & Services 213,181
IRI Group Holdings, Inc. First Lien Software 197,537
Tennessee Bidco, Limited First Lien Insurance  195,871
Qualus Power Services Corp. First Lien Electric Utilities 183,207
Inovalon Holdings, Inc. First Lien IT Services  178,817
CustomInk, LLC  First Lien Specialty Retail 175,835
Redwood Services Group, LLC First Lien IT Services  174,508
Integrity Marketing Acquisition, LLC First Lien Insurance 163,542
Genuine Cable Group, LLC First Lien Distributors 163,119
Aevex Holdings, LLC First Lien Aerospace & Defense 154,374
Shelf Bidco, Ltd. First Lien Insurance  148,007
CFS Brands, LLC First Lien Commercial Services & Supplies 139,291

Top Portfolio Holdings

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Company
Snoopy Bidco, Inc.
JSS Holdings, Inc.
Guidehouse, Inc. 
Auctane, Inc.
Cambium Learning Group, Inc.
Corfin Holdings, Inc.
Medallia, Inc. 
Bazaarvoice Inc.
Navigator Acquiror, Inc.
IRI Group Holdings, Inc.
Tennessee Bidco, Limited
Qualus Power Services Corp.
Inovalon Holdings, Inc.
CustomInk, LLC 
Redwood Services Group, LLC
Integrity Marketing Acquisition, LLC
Genuine Cable Group, LLC
Aevex Holdings, LLC
Shelf Bidco, Ltd.
CFS Brands, LLC
Includes the private debt investments for which fair value is determined by the Board of Trustees. Average loan-to-value represents the net ratio of loan-to-value for each portfolio company, weighted based on the fair value of total applicable private debt investments. Loan-to-value is calculated as the current total net debt through each respective loan tranche divided by the estimated enterprise value of the portfolio company as of the most recent quarter end.
Based on the fair market value of the portfolio as of March 31, 2026. Debt investments, excluding non-accrual debt investments, are 99.5% floating rate and debt investments represent 99.3% of total investments based on the fair market value of the portfolio as of March 31, 2026.
Measured as the fair value of investments for each category against the total fair value of all investments. Totals may not sum due to rounding.