FS KKR Capital Corp(NYSE:FSK) 
FS KKR Capital Corp. is a business development company specializing in investments in debt securities. It seeks to purchase interests in loans through secondary market transactions or directly from the target companies as primary market investments. It also seeks to invest in first lien senior secur...
Website: http://www.fsinvestmentcorp.com
Founded: 2007
Sector: Financial Services
Industry: Asset Management
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2024-09-30 | 2024-06-30 | 2022-06-30 | 2022-03-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 |
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investment income | ||||||||||||
from non-controlled/unaffiliated investments: | ||||||||||||
interest income | 217,000,000 | 224,000,000 | 274,000,000 | 276,000,000 | 229,000,000 | 241,000,000 | 219,000,000 | 108,000,000 | 87,000,000 | 93,000,000 | 109,000,000 | 125,000,000 |
paid-in-kind interest income | 24,000,000 | 15,000,000 | 19,000,000 | 17,000,000 | 15,000,000 | 18,000,000 | 16,000,000 | 9,000,000 | 10,000,000 | 11,000,000 | 9,000,000 | 11,000,000 |
fee income | 4,000,000 | 9,000,000 | 20,000,000 | 9,000,000 | 13,000,000 | 27,000,000 | 29,000,000 | 22,000,000 | 11,000,000 | 3,000,000 | 6,000,000 | 12,000,000 |
dividend and other income | 6,000,000 | 12,000,000 | 7,000,000 | 7,000,000 | 17,000,000 | 8,000,000 | 8,000,000 | 8,000,000 | 4,000,000 | 7,000,000 | 1,000,000 | 2,000,000 |
from non-controlled/affiliated investments: | ||||||||||||
from controlled/affiliated investments: | ||||||||||||
total investment income | 373,000,000 | 398,000,000 | 441,000,000 | 439,000,000 | 379,000,000 | 396,000,000 | 360,000,000 | 206,000,000 | 151,000,000 | 147,000,000 | 150,000,000 | 179,000,000 |
operating expenses | ||||||||||||
management fees | 51,000,000 | 53,000,000 | 54,000,000 | 54,000,000 | 63,000,000 | 62,000,000 | 58,000,000 | 30,000,000 | 25,000,000 | 24,000,000 | 26,000,000 | 30,000,000 |
subordinated income incentive fees | 33,000,000 | 36,000,000 | 44,000,000 | 45,000,000 | 37,000,000 | 40,000,000 | 35,000,000 | 8,000,000 | ||||
administrative services expenses | 3,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 4,000,000 | 4,000,000 | 5,000,000 | 2,000,000 | 2,000,000 | 1,000,000 | 3,000,000 | 2,000,000 |
accounting and administrative fees | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | |||
interest expense | 116,000,000 | 125,000,000 | 118,000,000 | 115,000,000 | 83,000,000 | 77,000,000 | 70,000,000 | 46,000,000 | 42,000,000 | 40,000,000 | 42,000,000 | 46,000,000 |
other general and administrative expenses | 6,000,000 | 8,000,000 | 7,000,000 | 7,000,000 | 3,000,000 | 7,000,000 | 5,000,000 | 4,000,000 | 3,000,000 | 4,000,000 | 2,000,000 | 2,000,000 |
total operating expenses | 210,000,000 | 225,000,000 | 226,000,000 | 224,000,000 | 191,000,000 | 191,000,000 | 174,000,000 | 90,000,000 | 73,000,000 | 69,000,000 | 73,000,000 | 81,000,000 |
net investment income before taxes | 163,000,000 | |||||||||||
excise taxes | 4,000,000 | |||||||||||
net investment income | 159,000,000 | 173,000,000 | 215,000,000 | 215,000,000 | 203,000,000 | 220,000,000 | 201,000,000 | 116,000,000 | 78,000,000 | 78,000,000 | 77,000,000 | 98,000,000 |
realized and unrealized gain/loss | ||||||||||||
net realized gain on investments: | ||||||||||||
non-controlled/unaffiliated investments | -25,000,000 | -66,000,000 | -24,000,000 | -65,000,000 | 177,000,000 | -26,000,000 | 60,000,000 | 1,000,000 | -83,000,000 | -99,000,000 | -48,000,000 | -92,000,000 |
non-controlled/affiliated investments | -10,000,000 | -1,000,000 | -26,000,000 | 2,000,000 | 45,000,000 | -6,000,000 | 139,000,000 | 64,000,000 | -90,000,000 | -5,000,000 | -34,000,000 | |
controlled/affiliated investments | -18,000,000 | -68,000,000 | 7,000,000 | -1,000,000 | -39,000,000 | -2,000,000 | -13,000,000 | -43,000,000 | -18,000,000 | -17,000,000 | ||
net realized gain on foreign currency forward contracts | -3,000,000 | 1,000,000 | 19,000,000 | 2,000,000 | 5,000,000 | |||||||
net realized gain on foreign currency | -20,000,000 | -6,000,000 | -2,000,000 | 6,000,000 | 1,000,000 | -1,000,000 | -1,000,000 | -2,000,000 | -2,000,000 | 1,000,000 | -4,000,000 | |
net change in unrealized appreciation (depreciation) on investments: | ||||||||||||
net change in unrealized appreciation (depreciation) on foreign currency forward contracts | 3,000,000 | -10,000,000 | -6,000,000 | -21,000,000 | 15,000,000 | 1,000,000 | 5,000,000 | 2,000,000 | 1,000,000 | -1,000,000 | 2,000,000 | |
net change in unrealized gain on foreign currency | 25,000,000 | -59,000,000 | -27,000,000 | 4,000,000 | 27,000,000 | 3,000,000 | 10,000,000 | 12,000,000 | 6,000,000 | -14,000,000 | -6,000,000 | 22,000,000 |
total net realized and unrealized gain | 55,000,000 | -368,000,000 | -55,000,000 | -110,000,000 | -273,000,000 | 5,000,000 | 69,000,000 | 749,000,000 | 121,000,000 | 132,000,000 | -132,000,000 | -801,000,000 |
provision for taxes on investments | ||||||||||||
realized loss on extinguishment of debt | -3,000,000 | |||||||||||
net increase in net assets resulting from operations | 214,000,000 | -209,000,000 | 160,000,000 | 105,000,000 | -73,000,000 | 225,000,000 | 270,000,000 | 865,000,000 | 199,000,000 | 210,000,000 | -55,000,000 | -703,000,000 |
per share information—basic and diluted | ||||||||||||
weighted-average shares outstanding | 280,066,433 | 280,066,433 | 280,066,433 | 280,066,433 | 283,876,365 | 284,323,542 | 285,124,920 | 150,356,079 | 123,755,965 | 123,755,965 | 123,806,337 | 503,423,652 |
benefit from taxes on investments | -11,000,000 | |||||||||||
incentive fee waiver | -15,000,000 | -15,000,000 | -15,000,000 | |||||||||
net expenses | 176,000,000 | 176,000,000 | 159,000,000 | |||||||||
provision for taxes on realized gains on investments | ||||||||||||
dividend income | ||||||||||||
net realized gain on swap contracts | ||||||||||||
net change in unrealized appreciation (depreciation) on swap contracts |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2013-03-31 | 2012-06-30 | 2012-03-31 | 2011-09-30 | 2011-06-30 | 2011-03-31 | 2010-12-31 | 2010-09-30 | 2010-06-30 | 2010-03-31 | 2009-12-31 | 2009-09-30 | 2009-06-30 | 2009-03-31 | 2008-12-31 | 2008-09-30 |
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assets | ||||||||||||||||||||||||||||||||||||||||||||||
investments, at fair value | 4,084,029,000 | 2,947,983,000 | 2,247,199,000 | 1,333,937,000 | 1,087,472,000 | 900,484,000 | 733,580,000 | 480,879,000 | 344,552,000 | 196,060,000 | 100,592,000 | 54,559,000 | 29,313,000 | 9,919,000 | ||||||||||||||||||||||||||||||||
non-controlled/unaffiliated investments | 8,888,000,000 | 8,930,000,000 | 9,109,000,000 | 8,573,000,000 | 9,407,000,000 | 9,553,000,000 | 9,763,000,000 | 10,568,000,000 | 11,057,000,000 | 12,468,000,000 | 12,473,000,000 | 12,558,000,000 | 12,279,000,000 | 11,261,000,000 | 4,537,000,000 | 4,986,000,000 | 5,015,000,000 | 5,065,000,000 | 5,408,000,000 | 5,661,000,000 | 5,715,000,000 | 5,879,000,000 | 6,245,000,000 | 6,217,000,000 | 3,217,432,000 | 3,328,444,000 | 3,485,256,000 | 3,600,911,000 | 3,594,686,000 | 3,519,657,000 | ||||||||||||||||
non-controlled/affiliated investments | 1,085,000,000 | 1,111,000,000 | 1,184,000,000 | 1,140,000,000 | 838,000,000 | 811,000,000 | 752,000,000 | 745,000,000 | 555,000,000 | 837,000,000 | 1,077,000,000 | 859,000,000 | 871,000,000 | 835,000,000 | 611,000,000 | 534,000,000 | 516,000,000 | 484,000,000 | 511,000,000 | 717,000,000 | 636,000,000 | 677,000,000 | 483,000,000 | 358,000,000 | 214,575,000 | 202,128,000 | 228,774,000 | 230,055,000 | 222,275,000 | 294,782,000 | ||||||||||||||||
controlled/affiliated investments | 3,442,000,000 | 3,607,000,000 | 3,829,000,000 | 3,777,000,000 | 3,698,000,000 | 3,723,000,000 | 3,706,000,000 | 3,336,000,000 | 3,054,000,000 | 2,873,000,000 | 3,004,000,000 | 2,684,000,000 | 2,674,000,000 | 2,638,000,000 | 1,309,000,000 | 1,260,000,000 | 1,118,000,000 | 1,075,000,000 | 1,026,000,000 | 979,000,000 | 867,000,000 | 727,000,000 | 712,000,000 | 812,000,000 | 105,245,000 | 96,329,000 | 89,984,000 | 95,268,000 | 94,438,000 | 85,338,000 | ||||||||||||||||
total investments, at fair value | 13,415,000,000 | 13,648,000,000 | 14,122,000,000 | 13,490,000,000 | 13,943,000,000 | 14,087,000,000 | 14,221,000,000 | 14,649,000,000 | 14,666,000,000 | 16,178,000,000 | 16,554,000,000 | 16,101,000,000 | 15,824,000,000 | 14,734,000,000 | 6,457,000,000 | 6,780,000,000 | 6,649,000,000 | 6,624,000,000 | 6,945,000,000 | 7,357,000,000 | 7,218,000,000 | 7,283,000,000 | 7,440,000,000 | 7,387,000,000 | 3,537,252,000 | 3,626,901,000 | 3,804,014,000 | 3,926,234,000 | 3,911,399,000 | 3,899,777,000 | ||||||||||||||||
cash and cash equivalents | 119,000,000 | 244,000,000 | 289,000,000 | 366,000,000 | 1,019,000 | |||||||||||||||||||||||||||||||||||||||||
foreign currency, at fair value | 36,000,000 | 68,000,000 | 183,000,000 | 18,000,000 | 5,000,000 | 25,000,000 | 8,000,000 | 8,000,000 | 5,000,000 | 37,000,000 | 7,000,000 | 119,000,000 | 12,000,000 | 14,000,000 | 5,000,000 | 9,000,000 | 7,000,000 | 8,000,000 | 14,000,000 | 13,000,000 | 11,000,000 | 24,000,000 | 6,000,000 | 3,000,000 | 1,430,000 | 6,174,000 | 5,448,000 | 3,810,000 | 2,546,000 | 1,321,000 | ||||||||||||||||
receivable for investments sold and repaid | 48,000,000 | 320,000,000 | 65,000,000 | 186,000,000 | 468,000,000 | 225,000,000 | 329,000,000 | 246,000,000 | 176,000,000 | 498,000,000 | 856,000,000 | 567,000,000 | 365,000,000 | 325,000,000 | 263,000,000 | 173,000,000 | 231,000,000 | 137,000,000 | 204,000,000 | 657,000,000 | 328,000,000 | 86,000,000 | 123,000,000 | 144,000,000 | 27,681,000 | 19,552,000 | 1,195,000 | 3,477,000 | 1,896,000 | 30,555,000 | 21,134,000 | 41,794,000 | 3,977,000 | 3,295,000 | 11,981,000 | 125,027,000 | 5,162,000 | 15,276,000 | 20,000 | 6,715,000 | 15,000 | 163,000 | 28,000 | |||
income receivable | 209,000,000 | 194,000,000 | 180,000,000 | 187,000,000 | 313,000,000 | 317,000,000 | 300,000,000 | 290,000,000 | 317,000,000 | 190,000,000 | 176,000,000 | 153,000,000 | 163,000,000 | 140,000,000 | 72,000,000 | 72,000,000 | 93,000,000 | 78,000,000 | 79,000,000 | 82,000,000 | 84,000,000 | 77,000,000 | 65,000,000 | 60,000,000 | 23,380,000 | 32,239,000 | 32,352,000 | 30,668,000 | 38,811,000 | 28,609,000 | ||||||||||||||||
unrealized appreciation on foreign currency forward contracts | 3,000,000 | 19,000,000 | 13,000,000 | 21,000,000 | 24,000,000 | 10,000,000 | 9,000,000 | 6,000,000 | 2,000,000 | 1,000,000 | 1,000,000 | 2,000,000 | 3,000,000 | 3,000,000 | 1,000,000 | 9,000,000 | 3,000,000 | 4,000,000 | 3,000,000 | |||||||||||||||||||||||||||
deferred financing costs | 36,000,000 | 24,000,000 | 26,000,000 | 26,000,000 | 27,000,000 | 29,000,000 | 31,000,000 | 32,000,000 | 25,000,000 | 24,000,000 | 15,000,000 | 16,000,000 | 15,000,000 | 14,000,000 | 14,000,000 | 15,000,000 | 12,000,000 | 13,000,000 | 10,000,000 | 10,000,000 | 6,000,000 | 5,000,000 | 6,000,000 | 6,000,000 | 6,213,000 | 2,963,000 | 3,212,000 | 3,459,000 | 3,712,000 | 7,708,000 | 6,930,000 | 4,505,000 | 1,357,000 | 800,000 | 634,000 | 842,000 | 835,000 | 1,002,000 | 884,000 | 996,000 | ||||||
prepaid expenses and other assets | 46,000,000 | 95,000,000 | 50,000,000 | 31,000,000 | 27,000,000 | 10,000,000 | 10,000,000 | 8,000,000 | 3,000,000 | 6,000,000 | 5,000,000 | 5,000,000 | 6,000,000 | 9,000,000 | 6,000,000 | 4,000,000 | 3,000,000 | 6,000,000 | 5,000,000 | 3,000,000 | 3,000,000 | 2,000,000 | 3,000,000 | 1,000,000 | 758,000 | 525,000 | 1,675,000 | 1,695,000 | 654,000 | 763,000 | 411,000 | 294,000 | 318,000 | 22,000 | 45,000 | 66,000 | 6,000 | 11,000 | 16,000 | 16,000 | 24,000 | 24,000 | 15,000 | 10,000 | ||
total assets | 13,909,000,000 | 14,593,000,000 | 14,915,000,000 | 14,219,000,000 | 15,149,000,000 | 15,101,000,000 | 15,152,000,000 | 15,469,000,000 | 15,384,000,000 | 17,189,000,000 | 17,985,000,000 | 17,228,000,000 | 16,620,000,000 | 15,723,000,000 | 6,964,000,000 | 7,237,000,000 | 7,126,000,000 | 6,956,000,000 | 7,439,000,000 | 8,216,000,000 | 7,774,000,000 | 7,744,000,000 | 7,733,000,000 | 7,705,000,000 | 3,698,671,000 | 3,882,958,000 | 4,057,505,000 | 4,104,275,000 | 4,135,463,000 | 4,110,120,000 | 4,527,860,000 | 3,391,342,000 | 2,725,393,000 | 1,692,322,000 | 1,292,914,000 | 1,122,149,000 | 782,005,000 | 536,585,000 | 389,206,000 | 208,338,000 | 110,068,000 | 64,843,000 | 31,426,000 | 14,208,000 | 1,000,000 | 1,019,000 |
liabilities | ||||||||||||||||||||||||||||||||||||||||||||||
payable for investments purchased | 2,000,000 | 3,000,000 | 3,000,000 | 2,000,000 | 1,000,000 | 1,000,000 | 27,000,000 | 33,000,000 | 2,000,000 | 57,000,000 | 5,000,000 | 21,000,000 | 10,000,000 | 15,000,000 | 71,000,000 | 17,000,000 | 15,000,000 | 6,000,000 | 1,447,000 | 21,841,000 | 101,000 | 1,978,000 | 606,000 | 10,800,000 | 182,608,000 | 222,417,000 | 85,797,000 | 76,352,000 | 65,217,000 | 185,287,000 | 81,800,000 | 68,745,000 | 50,588,000 | 64,357,000 | 15,366,000 | 3,817,000 | 5,673,000 | 5,134,000 | ||||||||
debt | 7,356,000,000 | 8,041,000,000 | 7,989,000,000 | 7,351,000,000 | 8,060,000,000 | 7,956,000,000 | 7,934,000,000 | 8,187,000,000 | 8,016,000,000 | 9,306,000,000 | 9,835,000,000 | 9,142,000,000 | 8,492,000,000 | 7,720,000,000 | 3,590,000,000 | 3,997,000,000 | 3,957,000,000 | 3,903,000,000 | 4,238,000,000 | 4,173,000,000 | 3,508,000,000 | 3,441,000,000 | ||||||||||||||||||||||||
unrealized depreciation on foreign currency forward contracts | 15,000,000 | 18,000,000 | 8,000,000 | 1,000,000 | 10,000,000 | 4,000,000 | 2,000,000 | 4,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 2,000,000 | 2,000,000 | 3,000,000 | 1,000,000 | |||||||||||||||||||||||||||||||
stockholder distributions payable | 196,000,000 | 196,000,000 | 196,000,000 | 196,000,000 | 196,000,000 | 196,000,000 | 196,000,000 | 196,000,000 | 193,000,000 | 179,000,000 | 176,000,000 | 186,000,000 | 168,000,000 | 74,000,000 | 74,000,000 | 74,000,000 | 75,000,000 | 95,000,000 | 96,000,000 | 98,000,000 | 100,000,000 | 100,000,000 | 45,000,000 | 45,481,000 | 46,029,000 | 46,683,000 | 46,704,000 | 54,733,000 | 54,607,000 | 17,121,000 | 16,669,000 | 13,343,000 | 8,179,000 | 5,815,000 | 3,734,000 | 2,556,000 | 4,764,000 | 1,438,000 | 2,443,000 | 616,000 | 951,000 | |||||
management fees payable | 51,000,000 | 53,000,000 | 52,000,000 | 54,000,000 | 54,000,000 | 55,000,000 | 56,000,000 | 63,000,000 | 62,000,000 | 58,000,000 | 54,000,000 | 25,000,000 | 24,000,000 | 26,000,000 | 30,000,000 | 28,000,000 | 28,000,000 | 14,259,000 | 15,088,000 | 15,303,000 | 15,450,000 | 18,038,000 | 18,367,000 | 24,342,000 | 15,385,000 | 13,145,000 | 6,025,000 | 4,762,000 | 3,298,000 | 2,316,000 | 1,492,000 | 795,000 | 437,000 | 241,000 | 114,000 | 38,000 | ||||||||||
subordinated income incentive fees payable | 33,000,000 | 36,000,000 | 39,000,000 | 35,000,000 | 44,000,000 | 44,000,000 | 43,000,000 | 41,000,000 | 47,000,000 | 22,000,000 | 25,000,000 | 19,000,000 | 20,000,000 | 29,000,000 | 8,000,000 | 25,000,000 | 24,000,000 | 14,000,000 | 10,906,000 | 11,999,000 | 12,871,000 | 12,662,000 | 11,617,000 | 15,601,000 | ||||||||||||||||||||||
administrative services expense payable | 7,000,000 | 6,000,000 | 5,000,000 | 3,000,000 | 5,000,000 | 7,000,000 | 6,000,000 | 5,000,000 | 6,000,000 | 5,000,000 | 7,000,000 | 5,000,000 | 6,000,000 | 5,000,000 | 3,000,000 | 2,000,000 | 3,000,000 | 3,000,000 | 2,000,000 | 3,000,000 | 4,000,000 | 1,000,000 | 2,000,000 | 1,000,000 | 817,000 | 684,000 | 542,000 | 294,000 | 495,000 | 559,000 | 1,545,000 | 834,000 | 883,000 | 794,000 | ||||||||||||
interest payable | 70,000,000 | 80,000,000 | 65,000,000 | 108,000,000 | 99,000,000 | 117,000,000 | 91,000,000 | 98,000,000 | 79,000,000 | 77,000,000 | 66,000,000 | 70,000,000 | 55,000,000 | 65,000,000 | 41,000,000 | 25,000,000 | 33,000,000 | 34,000,000 | 32,000,000 | 23,000,000 | 29,000,000 | 26,000,000 | 26,000,000 | 28,000,000 | 17,667,000 | 23,210,000 | 18,190,000 | 22,851,000 | 17,463,000 | 22,288,000 | 9,489,000 | 3,709,000 | 3,610,000 | 1,724,000 | 1,095,000 | 1,093,000 | 883,000 | 682,000 | 709,000 | |||||||
other accrued expenses and liabilities | 20,000,000 | 19,000,000 | 12,000,000 | 44,000,000 | 9,000,000 | 15,000,000 | 13,000,000 | 33,000,000 | 14,000,000 | 9,000,000 | 10,000,000 | 23,000,000 | 9,000,000 | 27,000,000 | 8,000,000 | 15,000,000 | 3,000,000 | 3,000,000 | 4,000,000 | 10,000,000 | 3,000,000 | 5,000,000 | 7,000,000 | 18,000,000 | 1,556,000 | 1,622,000 | 870,000 | 7,112,000 | 1,232,000 | 1,122,000 | 2,664,000 | 2,948,000 | 3,058,000 | 1,690,000 | 975,000 | 1,193,000 | 625,000 | 322,000 | 599,000 | 637,000 | 183,000 | 112,000 | 91,000 | 114,000 | ||
total liabilities | 7,750,000,000 | 8,452,000,000 | 8,369,000,000 | 7,597,000,000 | 8,478,000,000 | 8,394,000,000 | 8,340,000,000 | 8,620,000,000 | 8,414,000,000 | 9,702,000,000 | 10,218,000,000 | 9,498,000,000 | 8,884,000,000 | 8,070,000,000 | 3,743,000,000 | 4,141,000,000 | 4,099,000,000 | 4,065,000,000 | 4,411,000,000 | 4,350,000,000 | 3,750,000,000 | 3,646,000,000 | 3,613,000,000 | 3,539,000,000 | 1,631,810,000 | 1,748,180,000 | 1,807,543,000 | 1,819,552,000 | 1,818,770,000 | 1,829,416,000 | 1,967,184,000 | 1,016,984,000 | 774,637,000 | 553,046,000 | 427,585,000 | 541,426,000 | 392,773,000 | 274,704,000 | 194,908,000 | 73,118,000 | 16,871,000 | 5,315,000 | 5,903,000 | 5,301,000 | ||
commitments and contingencies | ||||||||||||||||||||||||||||||||||||||||||||||
stockholders’ equity | ||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.001 par value... | ||||||||||||||||||||||||||||||||||||||||||||||
common stock, 0.001 par value... | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 239,000 | 241,000 | 246,000 | 246,000 | 246,000 | 245,000 | 254,000 | 247,000 | 203,000 | 125,000 | 90,000 | 60,000 | 41,000 | 28,000 | 22,000 | 15,000 | 10,000 | 6,000 | 3,000 | 1,000 | |||||||||||||||||||||
capital in excess of par value | 9,284,000,000 | 9,284,000,000 | 9,284,000,000 | 9,284,000,000 | 9,437,000,000 | 9,437,000,000 | 9,437,000,000 | 9,437,000,000 | 9,578,000,000 | 9,635,000,000 | 9,649,000,000 | 9,658,000,000 | 7,507,000,000 | 7,508,000,000 | 3,866,000,000 | 3,866,000,000 | 3,995,000,000 | 3,995,000,000 | 4,002,000,000 | 4,041,000,000 | 4,117,000,000 | 4,164,000,000 | 4,188,000,000 | 4,235,000,000 | 2,222,598,000 | 2,233,692,000 | 2,271,588,000 | 2,272,591,000 | 2,276,946,000 | 2,271,623,000 | 2,415,470,000 | 2,349,585,000 | 1,923,790,000 | 1,176,534,000 | 841,020,000 | 553,735,000 | 374,637,000 | 251,969,000 | 191,476,000 | 125,100,000 | 85,508,000 | 53,661,000 | 23,990,000 | 9,393,000 | ||
retained earnings | -3,125,000,000 | -3,143,000,000 | -2,738,000,000 | -2,662,000,000 | -2,766,000,000 | -2,730,000,000 | -2,625,000,000 | -2,588,000,000 | -2,608,000,000 | -2,148,000,000 | -1,882,000,000 | -1,928,000,000 | 229,000,000 | 145,000,000 | -645,000,000 | -770,000,000 | -968,000,000 | -1,104,000,000 | -974,000,000 | -176,000,000 | -94,000,000 | -67,000,000 | ||||||||||||||||||||||||
total stockholders’ equity | 6,159,000,000 | 6,141,000,000 | 6,546,000,000 | 6,622,000,000 | 6,671,000,000 | 6,707,000,000 | 6,812,000,000 | 6,849,000,000 | 6,970,000,000 | 7,767,000,000 | 7,730,000,000 | 7,736,000,000 | 7,653,000,000 | 3,221,000,000 | 3,096,000,000 | 3,027,000,000 | 2,891,000,000 | 3,028,000,000 | 3,866,000,000 | 4,024,000,000 | 4,098,000,000 | 4,120,000,000 | 4,166,000,000 | 2,066,861,000 | 2,134,778,000 | 2,249,962,000 | 2,284,723,000 | 2,316,693,000 | 2,280,704,000 | 2,560,676,000 | 1,950,756,000 | 1,139,276,000 | 865,329,000 | 580,723,000 | 389,232,000 | 261,881,000 | 194,298,000 | 135,220,000 | 93,197,000 | 59,528,000 | 25,523,000 | 8,907,000 | 999,000 | 1,019,000 | ||
total liabilities and stockholders’ equity | 13,909,000,000 | 14,593,000,000 | 14,915,000,000 | 14,219,000,000 | 15,149,000,000 | 15,101,000,000 | 15,152,000,000 | 15,469,000,000 | 15,384,000,000 | 17,985,000,000 | 17,228,000,000 | 16,620,000,000 | 15,723,000,000 | 6,964,000,000 | 7,237,000,000 | 7,126,000,000 | 6,956,000,000 | 7,439,000,000 | 8,216,000,000 | 7,774,000,000 | 7,744,000,000 | 7,733,000,000 | 7,705,000,000 | 3,698,671,000 | 3,882,958,000 | 4,057,505,000 | 4,104,275,000 | 4,135,463,000 | 4,110,120,000 | 4,527,860,000 | 3,391,342,000 | 2,725,393,000 | 1,692,322,000 | 1,292,914,000 | 1,122,149,000 | 782,005,000 | 536,585,000 | 389,206,000 | 208,338,000 | 110,068,000 | 64,843,000 | 31,426,000 | 14,208,000 | 1,000,000 | ||
net asset value per share of common stock at period end | 21,990,000 | 21,930,000 | 23,370,000 | 23,820,000 | 23,950,000 | 24,320,000 | 24,890,000 | 26,410,000 | 27,330,000 | 27,140,000 | 26,840,000 | 26,030,000 | 24,460,000 | 23,370,000 | 6,090,000 | 7,860,000 | 7,880,000 | 7,860,000 | 8,640 | 8,870 | 9,160 | 9,430 | 9,300 | 10,100 | 9,610 | |||||||||||||||||||||
cash | 278,000,000 | 408,000,000 | 234,000,000 | 223,000,000 | 171,000,000 | 232,000,000 | 362,000,000 | 258,000,000 | 229,000,000 | 485,000,000 | 144,000,000 | 182,000,000 | 129,000,000 | 87,000,000 | 179,000,000 | 93,000,000 | 115,000,000 | 211,000,000 | 86,000,000 | 101,000,000 | 98,535,000 | 194,604,000 | 209,609,000 | 134,932,000 | 176,445,000 | 141,387,000 | 362,896,000 | 231,916,000 | 315,568,000 | 270,171,000 | 138,098,000 | 87,448,000 | 38,790,000 | 35,957,000 | 41,962,000 | 3,745,000 | 9,035,000 | 9,742,000 | 1,917,000 | 3,096,000 | 1,000,000 | |||||
management and investment adviser fees payable | 53,000,000 | 56,000,000 | 60,000,000 | 25,000,000 | 30,000,000 | 29,000,000 | 20,000,000 | |||||||||||||||||||||||||||||||||||||||
net asset value per share of common stock at year end | 23,640,000 | 24,460,000 | 27,170,000 | 25,020,000 | 7,640,000 | 7,840,000 | 9,300 | |||||||||||||||||||||||||||||||||||||||
stockholders' equity | ||||||||||||||||||||||||||||||||||||||||||||||
total stockholders' equity | 7,487,000,000 | 2,374,358,000 | ||||||||||||||||||||||||||||||||||||||||||||
total liabilities and stockholders' equity | 17,189,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
deferred merger costs | 2,000,000 | 1,000,000 | 3,422,000 | |||||||||||||||||||||||||||||||||||||||||||
unrealized depreciation on swap contracts | 1,000,000 | 2,000,000 | 12,000,000 | 16,000,000 | ||||||||||||||||||||||||||||||||||||||||||
directors’ fees payable | 268,000 | 261,000 | 490,000 | 276,000 | 267,000 | 266,000 | ||||||||||||||||||||||||||||||||||||||||
restricted cash | 53,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
credit facilities payable | 2,076,000,000 | 2,070,000,000 | 474,700,000 | 553,656,000 | 639,205,000 | 638,571,000 | 637,669,000 | 634,914,000 | 978,646,000 | 387,967,000 | ||||||||||||||||||||||||||||||||||||
unsecured notes payable | 1,322,000,000 | 1,321,000,000 | 1,075,615,000 | 1,074,883,000 | 1,074,160,000 | 1,073,445,000 | 1,072,714,000 | 1,071,983,000 | ||||||||||||||||||||||||||||||||||||||
accumulated earnings | -69,000,000 | -70,000,000 | -155,976,000 | |||||||||||||||||||||||||||||||||||||||||||
accumulated undistributed net realized gain/loss on investments and gain/loss on foreign currency | -218,869,000 | -249,570,000 | -245,288,000 | -237,493,000 | -219,258,000 | |||||||||||||||||||||||||||||||||||||||||
accumulated undistributed (distributions in excess of) net investment income | 147,936,000 | 147,926,000 | 144,062,000 | 133,899,000 | 137,984,000 | 15,493,000 | -27,013,000 | -20,838,000 | ||||||||||||||||||||||||||||||||||||||
net unrealized appreciation (depreciation) on investments and unrealized gain/loss on foreign currency | -28,222,000 | 79,772,000 | ||||||||||||||||||||||||||||||||||||||||||||
secured borrowing, at fair value | 2,891,000 | 2,893,000 | ||||||||||||||||||||||||||||||||||||||||||||
net unrealized appreciation (depreciation) on investments and secured borrowing and unrealized gain/loss on foreign currency | 113,112,000 | 143,095,000 | 90,110,000 | |||||||||||||||||||||||||||||||||||||||||||
interest receivable | 52,460,000 | 34,653,000 | 25,969,000 | 14,050,000 | 10,006,000 | 8,074,000 | 3,632,000 | 3,460,000 | 1,772,000 | 806,000 | 402,000 | 291,000 | 101,000 | 44,000 | ||||||||||||||||||||||||||||||||
repurchase agreement payable | 700,000,000 | 350,000,000 | 300,000,000 | 109,286,000 | ||||||||||||||||||||||||||||||||||||||||||
accrued capital gains incentive fees | 35,168,000 | |||||||||||||||||||||||||||||||||||||||||||||
accumulated undistributed net realized gains on investments and gain/loss on foreign currency | 2,467,000 | |||||||||||||||||||||||||||||||||||||||||||||
net unrealized appreciation (depreciation) on investments and gain/loss on foreign currency | 126,992,000 | -54,261,000 | ||||||||||||||||||||||||||||||||||||||||||||
due from counterparty | 126,633,000 | 126,567,000 | 69,673,000 | 43,391,000 | ||||||||||||||||||||||||||||||||||||||||||
receivable for common stock purchased | 160,000 | 115,000 | ||||||||||||||||||||||||||||||||||||||||||||
unrealized gain on total return swap | 2,453,000 | 2,516,000 | 1,287,000 | 208,000 | ||||||||||||||||||||||||||||||||||||||||||
receivable due on total return swap | 951,000 | 1,807,000 | 374,000 | |||||||||||||||||||||||||||||||||||||||||||
unrealized loss on total return swap | 7,600,000 | |||||||||||||||||||||||||||||||||||||||||||||
accrued capital gains incentive fee | 16,499,000 | |||||||||||||||||||||||||||||||||||||||||||||
deferred income | 556,000 | |||||||||||||||||||||||||||||||||||||||||||||
accumulated undistributed net realized gains on investments and total return swap and gain/loss on foreign currency | 9,867,000 | |||||||||||||||||||||||||||||||||||||||||||||
net unrealized appreciation (depreciation) on investments and total return swap and gain/loss on foreign currency | 41,672,000 | 45,612,000 | ||||||||||||||||||||||||||||||||||||||||||||
credit facility payable | 340,000,000 | 340,000,000 | 340,000,000 | 337,606,000 | 297,201,000 | 197,267,000 | 140,000,000 | 4,400,000 | ||||||||||||||||||||||||||||||||||||||
capital gains incentive fee payable | 14,801,000 | 7,974,000 | 7,334,000 | 5,459,000 | 373,000 | |||||||||||||||||||||||||||||||||||||||||
accumulated undistributed net realized gains on investments | 1,989,000 | 21,620,000 | 16,406,000 | 4,960,000 | 1,290,000 | 513,000 | 1,400,000 | 733,000 | 53,000 | |||||||||||||||||||||||||||||||||||||
net asset value per common share at period end | 9,620 | 9,140 | 9,640 | 9,680 | 9,420 | 9,270 | 8,930 | 9,280 | 9,100 | 9,180 | 8,630 | 8,640 | 8,990 | 9,170 | ||||||||||||||||||||||||||||||||
management fee payable | 7,421,000 | |||||||||||||||||||||||||||||||||||||||||||||
reimbursements payable | 641,000 | |||||||||||||||||||||||||||||||||||||||||||||
accumulated distributions in excess of net investment income | -4,742,000 | -10,049,000 | -6,751,000 | -4,802,000 | ||||||||||||||||||||||||||||||||||||||||||
administrative services fees payable | 484,000 | 417,000 | 310,000 | 235,000 | 82,000 | 100,000 | 96,000 | 58,000 | 25,000 | 15,000 | ||||||||||||||||||||||||||||||||||||
net unrealized appreciation on investments and gain/loss on foreign currency | 17,862,000 | 28,719,000 | ||||||||||||||||||||||||||||||||||||||||||||
net unrealized appreciation on investments and loss on foreign currency | 18,066,000 | 10,083,000 | 2,088,000 | 10,040,000 | ||||||||||||||||||||||||||||||||||||||||||
accumulated undistributed loss | -712,000 | -688,000 | -668,000 | -649,000 | ||||||||||||||||||||||||||||||||||||||||||
capital gain incentive fee payable | 386,000 | 173,000 | 136,000 | |||||||||||||||||||||||||||||||||||||||||||
net unrealized appreciation on investments | 8,275,000 | 6,503,000 | 2,172,000 | 155,000 | ||||||||||||||||||||||||||||||||||||||||||
reimbursement from sponsor | 64,000 | 52,000 | 124,000 | |||||||||||||||||||||||||||||||||||||||||||
accumulated deficit | -642,000 | -642,000 | -642,000 | -617,000 | -495,000 | |||||||||||||||||||||||||||||||||||||||||
receivable for investments sold | 1,015,000 | |||||||||||||||||||||||||||||||||||||||||||||
accrued liabilities | 1,000 | |||||||||||||||||||||||||||||||||||||||||||||
capital in excess of par value, net of offering costs of 1,567 and 257, respectively | 1,616,000 | |||||||||||||||||||||||||||||||||||||||||||||
stockholder’s equity | ||||||||||||||||||||||||||||||||||||||||||||||
capital in excess of par value, net of offering costs of 1,413 and 257, respectively | 1,514,000 | |||||||||||||||||||||||||||||||||||||||||||||
revenue | ||||||||||||||||||||||||||||||||||||||||||||||
interest income | 8,000 | |||||||||||||||||||||||||||||||||||||||||||||
operating expenses | ||||||||||||||||||||||||||||||||||||||||||||||
organization costs | 127,000 | |||||||||||||||||||||||||||||||||||||||||||||
net income | -119,000 | |||||||||||||||||||||||||||||||||||||||||||||
loss per share - basic and diluted | -1,070 | |||||||||||||||||||||||||||||||||||||||||||||
weighted-average shares outstanding - basic and diluted | 111,112,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2013-03-31 | 2012-06-30 | 2012-03-31 | 2011-09-30 | 2011-06-30 | 2011-03-31 | 2010-12-31 | 2010-09-30 | 2010-06-30 | 2010-03-31 | 2009-12-31 | 2009-09-30 | 2009-06-30 | 2009-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities | ||||||||||||||||||||||||||||||||||||||||||||
net increase in net assets resulting from operations | 214,000,000 | -209,000,000 | 120,000,000 | 147,000,000 | 160,000,000 | 105,000,000 | 173,000,000 | 90,000,000 | 454,000,000 | -73,000,000 | 225,000,000 | 181,000,000 | 270,000,000 | 865,000,000 | 199,000,000 | 143,000,000 | 210,000,000 | -55,000,000 | -703,000,000 | -27,000,000 | 71,000,000 | 101,000,000 | 101,000,000 | 598,753,000 | -11,340,000 | -31,338,000 | 12,925,000 | 14,754,000 | 85,398,000 | -641,000 | 82,476,000 | 45,068,000 | 82,410,000 | -39,486,000 | 17,820,000 | 22,322,000 | 15,264,000 | 11,848,000 | -3,717,000 | 4,869,000 | 3,469,000 | 5,282,000 | 2,412,000 | 293,000 |
adjustments to reconcile net increase in net assets resulting from operations to net cash from operating activities: | ||||||||||||||||||||||||||||||||||||||||||||
purchases of investments | -1,005,000,000 | -1,400,000,000 | -1,704,000,000 | -891,000,000 | -1,136,000,000 | -1,260,000,000 | -1,444,000,000 | -680,000,000 | 1,735,000,000 | -804,000,000 | -2,068,000,000 | -2,071,000,000 | -2,781,000,000 | -1,330,000,000 | -417,000,000 | -613,000,000 | -174,000,000 | -253,000,000 | -1,296,000,000 | -1,147,000,000 | -698,000,000 | -513,000,000 | -549,000,000 | -220,072,000 | -184,495,000 | -240,443,000 | -115,990,000 | -262,562,000 | -183,384,000 | -188,455,000 | -649,916,000 | -999,925,000 | -561,430,000 | -476,151,000 | -392,638,000 | -548,074,000 | -347,552,000 | -196,422,000 | -180,201,000 | -125,067,000 | -52,454,000 | -22,476,000 | -20,011,000 | -11,157,000 |
paid-in-kind interest | -53,000,000 | -52,000,000 | -64,000,000 | -96,000,000 | -44,000,000 | -38,000,000 | -25,000,000 | -28,000,000 | -54,000,000 | -28,000,000 | -34,000,000 | -44,000,000 | -33,000,000 | -19,000,000 | -15,000,000 | -20,000,000 | -21,000,000 | -20,000,000 | -23,000,000 | -21,000,000 | -11,000,000 | -16,000,000 | -12,000,000 | -15,813,000 | -14,297,000 | -11,497,000 | -13,393,000 | -11,900,000 | -10,670,000 | -16,995,000 | -1,413,000 | -965,000 | ||||||||||||
proceeds from sales and repayments of investments | 1,346,000,000 | 1,650,000,000 | 1,113,000,000 | 1,462,000,000 | 1,321,000,000 | 1,336,000,000 | 1,855,000,000 | 664,000,000 | -673,000,000 | 906,000,000 | 1,673,000,000 | 1,855,000,000 | 1,806,000,000 | 1,037,000,000 | 877,000,000 | 595,000,000 | 322,000,000 | 470,000,000 | 914,000,000 | 929,000,000 | 723,000,000 | 692,000,000 | 510,000,000 | 397,383,000 | 223,419,000 | 350,253,000 | 215,945,000 | 234,638,000 | 225,483,000 | 131,060,000 | 543,817,000 | 307,504,000 | 219,584,000 | 173,991,000 | 210,521,000 | 398,684,000 | 109,991,000 | 69,744,000 | 25,975,000 | 34,344,000 | 9,525,000 | 2,468,000 | 3,134,000 | 1,590,000 |
net realized (gain) loss on investments | 53,000,000 | 135,000,000 | 18,000,000 | 136,000,000 | 43,000,000 | 64,000,000 | 243,000,000 | 5,000,000 | 489,000,000 | -183,000,000 | 32,000,000 | -48,000,000 | -197,000,000 | -52,000,000 | 126,000,000 | 87,000,000 | 207,000,000 | 70,000,000 | 126,000,000 | 21,000,000 | -17,000,000 | 59,000,000 | 18,000,000 | 18,216,000 | 129,339,000 | -14,171,000 | -7,696,000 | 3,102,000 | ||||||||||||||||
net change in unrealized (appreciation) depreciation on investments | -100,000,000 | 155,000,000 | 14,000,000 | -57,000,000 | -22,000,000 | 48,000,000 | -186,000,000 | 71,000,000 | -716,000,000 | 506,000,000 | -27,000,000 | 56,000,000 | 142,000,000 | -673,000,000 | -242,000,000 | -175,000,000 | -356,000,000 | 57,000,000 | 695,000,000 | 84,000,000 | 76,000,000 | -61,000,000 | -16,000,000 | -17,518,000 | 4,138,000 | -61,017,000 | ||||||||||||||||||
net change in unrealized (appreciation) depreciation on foreign currency forward contracts | -3,000,000 | 10,000,000 | 10,000,000 | -12,000,000 | 6,000,000 | 21,000,000 | -8,000,000 | 12,000,000 | 19,000,000 | -15,000,000 | -1,000,000 | -3,000,000 | -5,000,000 | -1,000,000 | -1,000,000 | 4,000,000 | 1,000,000 | 0 | -2,000,000 | 8,000,000 | -7,000,000 | 2,000,000 | -1,000,000 | |||||||||||||||||||||
realized loss on extinguishment of debt | 0 | |||||||||||||||||||||||||||||||||||||||||||
accretion of discount | -10,000,000 | -14,000,000 | -9,000,000 | -12,000,000 | -18,000,000 | -16,000,000 | -15,000,000 | -15,000,000 | 7,000,000 | -21,000,000 | -29,000,000 | -25,000,000 | -27,000,000 | -13,000,000 | -6,000,000 | -5,000,000 | -3,000,000 | -3,000,000 | -4,000,000 | -5,000,000 | -8,000,000 | -4,000,000 | -4,000,000 | -2,536,000 | -1,974,000 | -1,067,000 | -1,423,000 | -13,568,000 | -7,088,000 | 5,384,000 | -10,106,000 | -3,729,000 | -3,080,000 | -4,143,000 | -2,086,000 | -1,416,000 | -1,459,000 | -1,339,000 | -1,098,000 | -929,000 | -846,000 | -590,000 | -265,000 | -73,000 |
amortization of deferred financing costs and discount | 5,000,000 | 6,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | 4,000,000 | 4,000,000 | 5,000,000 | 4,000,000 | 3,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 3,000,000 | 4,000,000 | 5,000,000 | 2,000,000 | 1,000,000 | 1,000,000 | 2,000,000 | 1,000,000 | 2,000,000 | 1,103,000 | 2,408,000 | 1,251,000 | 1,238,000 | 1,267,000 | 1,267,000 | |||||||||||||||
unrealized (gain)/loss on borrowings in foreign currency | -8,000,000 | 83,000,000 | 25,000,000 | -49,000,000 | 30,000,000 | -6,000,000 | -11,000,000 | 28,000,000 | 25,000,000 | -30,000,000 | -6,000,000 | -22,000,000 | 8,000,000 | -7,000,000 | -6,000,000 | 20,000,000 | 16,000,000 | 2,000,000 | -28,000,000 | 23,000,000 | -1,406,000 | 626,000 | -2,828,000 | 608,000 | 860,000 | 1,187,000 | ||||||||||||||||||
increase in receivable for investments sold and repaid | 272,000,000 | -255,000,000 | 121,000,000 | 282,000,000 | -243,000,000 | 104,000,000 | -83,000,000 | -70,000,000 | -33,000,000 | 358,000,000 | -289,000,000 | -202,000,000 | -40,000,000 | -62,000,000 | -90,000,000 | 58,000,000 | -94,000,000 | 67,000,000 | 453,000,000 | -329,000,000 | -242,000,000 | 37,000,000 | 21,000,000 | -116,796,000 | -8,129,000 | -18,357,000 | 2,282,000 | -1,581,000 | 28,659,000 | 46,340,000 | -974,000 | -37,817,000 | -2,573,000 | 113,046,000 | -119,865,000 | 10,114,000 | -15,256,000 | 6,695,000 | -6,700,000 | 148,000 | -135,000 | 987,000 | -1,015,000 | |
increase in income receivable | -13,000,000 | -14,000,000 | 7,000,000 | 37,000,000 | 4,000,000 | -17,000,000 | -10,000,000 | 27,000,000 | -53,000,000 | -14,000,000 | -23,000,000 | 10,000,000 | -23,000,000 | 21,000,000 | -15,000,000 | 1,000,000 | 3,000,000 | 2,000,000 | -7,000,000 | -12,000,000 | -5,000,000 | -36,288,000 | 8,859,000 | 113,000 | -1,684,000 | 8,143,000 | -10,202,000 | |||||||||||||||||
increase in prepaid expenses and other assets | 23,000,000 | -11,000,000 | -5,000,000 | 11,000,000 | -17,000,000 | 0 | -2,000,000 | -5,000,000 | 1,000,000 | 3,000,000 | -3,000,000 | -2,000,000 | -1,000,000 | -2,000,000 | 0 | -1,000,000 | 1,000,000 | -2,000,000 | 63,000 | -233,000 | 1,150,000 | 20,000 | -1,041,000 | 109,000 | -80,000 | 119,000 | 24,000 | 113,000 | 23,000 | 21,000 | -60,000 | 5,000 | 5,000 | 0 | -6,000 | 0 | -9,000 | -5,000 | -10,000 | |||||
increase in payable for investments purchased | 0 | 1,000,000 | 1,000,000 | 0 | 0 | -39,000,000 | -6,000,000 | 31,000,000 | -55,000,000 | -5,000,000 | -16,000,000 | 11,000,000 | -5,000,000 | -56,000,000 | 54,000,000 | 2,000,000 | 9,000,000 | 4,531,000 | -20,394,000 | 21,740,000 | -1,877,000 | 1,372,000 | -10,194,000 | -98,136,000 | 103,188,000 | 136,620,000 | 21,430,000 | 103,487,000 | 13,055,000 | 18,157,000 | -13,769,000 | 48,991,000 | 11,549,000 | -1,856,000 | 539,000 | 5,134,000 | ||||||||
increase in management fees payable | -1,000,000 | -1,000,000 | 0 | -1,000,000 | -1,000,000 | 0 | -6,000,000 | 1,000,000 | 2,000,000 | 2,000,000 | 4,000,000 | 1,000,000 | -2,000,000 | 2,000,000 | 0 | -1,000,000 | 9,000,000 | 6,191,000 | -829,000 | -215,000 | -147,000 | -2,588,000 | -329,000 | -2,490,000 | 2,835,000 | 2,240,000 | 3,573,000 | 1,263,000 | 1,464,000 | 982,000 | 824,000 | 697,000 | 358,000 | 196,000 | 127,000 | 76,000 | 38,000 | |||||||
increase in subordinated income incentive fees payable | -3,000,000 | -3,000,000 | 4,000,000 | -9,000,000 | 0 | 1,000,000 | 2,000,000 | -6,000,000 | 17,000,000 | -3,000,000 | 6,000,000 | -1,000,000 | -9,000,000 | -8,000,000 | -17,000,000 | 1,000,000 | 10,000,000 | 13,871,000 | -10,906,000 | -1,093,000 | -872,000 | 209,000 | 1,045,000 | -3,476,000 | 2,208,000 | |||||||||||||||||||
increase in administrative services expense payable | 1,000,000 | 1,000,000 | 2,000,000 | 1,000,000 | 1,000,000 | 2,000,000 | 1,000,000 | 477,000 | 133,000 | 142,000 | 248,000 | -201,000 | -64,000 | -555,000 | 598,000 | |||||||||||||||||||||||||||||
increase in interest payable | -10,000,000 | 15,000,000 | -43,000,000 | 9,000,000 | -18,000,000 | 26,000,000 | -7,000,000 | 19,000,000 | -18,000,000 | 11,000,000 | -4,000,000 | 15,000,000 | -10,000,000 | 24,000,000 | 16,000,000 | -8,000,000 | -1,000,000 | 2,000,000 | 9,000,000 | -6,000,000 | 3,000,000 | 0 | -2,000,000 | 10,184,000 | -5,543,000 | 5,020,000 | -4,661,000 | 5,388,000 | -4,825,000 | 2,897,000 | -753,000 | 99,000 | 1,085,000 | 629,000 | 2,000 | 210,000 | 201,000 | -27,000 | ||||||
increase in other accrued expenses and liabilities | 1,000,000 | 7,000,000 | -32,000,000 | 35,000,000 | -6,000,000 | 2,000,000 | -20,000,000 | 19,000,000 | -1,000,000 | -1,000,000 | -13,000,000 | 14,000,000 | -18,000,000 | 19,000,000 | -7,000,000 | 12,000,000 | 0 | -1,000,000 | -6,000,000 | 7,000,000 | -2,000,000 | -2,000,000 | -11,000,000 | 16,556,000 | -66,000 | 752,000 | -6,242,000 | 5,880,000 | 110,000 | -5,724,000 | -375,000 | -110,000 | 1,168,000 | 715,000 | -218,000 | 568,000 | 303,000 | 73,000 | -38,000 | 104,000 | 71,000 | 22,000 | -23,000 | 113,000 |
net cash from operating activities | 707,000,000 | 108,000,000 | -418,000,000 | 978,000,000 | 81,000,000 | 376,000,000 | 466,000,000 | 134,000,000 | 1,165,000,000 | 605,000,000 | -520,000,000 | -333,000,000 | -850,000,000 | 109,000,000 | 435,000,000 | 116,000,000 | 82,000,000 | 346,000,000 | 131,000,000 | -524,000,000 | -83,000,000 | 276,000,000 | 75,000,000 | -38,313,000 | 40,820,000 | 153,221,000 | 124,272,000 | 17,601,000 | 80,537,000 | -60,245,000 | 28,488,000 | -559,935,000 | -351,972,000 | -292,619,000 | -220,596,000 | -161,241,000 | -207,613,000 | -121,695,000 | -159,155,000 | -48,008,000 | -30,571,000 | -21,850,000 | -15,383,000 | -5,519,000 |
capital expenditures | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
free cash flows | 707,000,000 | 108,000,000 | -418,000,000 | 978,000,000 | 81,000,000 | 376,000,000 | 466,000,000 | 134,000,000 | 1,165,000,000 | 605,000,000 | -520,000,000 | -333,000,000 | -850,000,000 | 109,000,000 | 435,000,000 | 116,000,000 | 82,000,000 | 346,000,000 | 131,000,000 | -524,000,000 | -83,000,000 | 276,000,000 | 75,000,000 | -38,313,000 | 40,820,000 | 153,221,000 | 124,272,000 | 17,601,000 | 80,537,000 | -60,245,000 | 28,488,000 | -559,935,000 | -351,972,000 | -292,619,000 | -220,596,000 | -161,241,000 | -207,613,000 | -121,695,000 | -159,155,000 | -48,008,000 | -30,571,000 | -21,850,000 | -15,383,000 | -5,519,000 |
cash flows from financing activities | ||||||||||||||||||||||||||||||||||||||||||||
stockholder distributions | -196,000,000 | -392,000,000 | -196,000,000 | -210,000,000 | -210,000,000 | -211,000,000 | -257,000,000 | -179,000,000 | -176,000,000 | -186,000,000 | -168,000,000 | -74,000,000 | -74,000,000 | -74,000,000 | -75,000,000 | -95,000,000 | -96,000,000 | -98,000,000 | -100,000,000 | -99,000,000 | -45,000,000 | -67,668,000 | -46,029,000 | -46,599,000 | -46,704,000 | -54,753,000 | -54,607,000 | -57,783,000 | -51,066,000 | -43,979,000 | -34,214,000 | -19,752,000 | -18,448,000 | -8,770,000 | -12,802,000 | -1,437,000 | -4,594,000 | -616,000 | -1,986,000 | 1,000 | -395,000 | -138,000 | ||
borrowings under financing arrangements | 1,045,000,000 | 2,669,000,000 | 2,831,000,000 | 1,532,000,000 | 1,070,000,000 | 1,336,000,000 | 1,019,000,000 | 1,042,000,000 | -1,054,000,000 | 568,000,000 | 1,613,000,000 | 2,317,000,000 | 1,647,000,000 | 797,000,000 | 245,000,000 | 357,000,000 | 347,000,000 | 808,000,000 | ||||||||||||||||||||||||||
repayments of financing arrangements | -1,690,000,000 | -2,739,000,000 | -2,232,000,000 | -2,182,000,000 | -1,017,000,000 | -1,297,000,000 | -1,263,000,000 | -896,000,000 | 176,000,000 | -1,070,000,000 | -907,000,000 | -1,630,000,000 | -884,000,000 | -477,000,000 | -648,000,000 | -321,000,000 | -679,000,000 | -717,000,000 | ||||||||||||||||||||||||||
deferred financing costs paid | -23,000,000 | -2,000,000 | -5,000,000 | -11,000,000 | 0 | -14,000,000 | -1,000,000 | -14,000,000 | 12,000,000 | -10,000,000 | -9,000,000 | -2,000,000 | -2,000,000 | -10,000,000 | 1,000,000 | -7,000,000 | -3,000,000 | -3,000,000 | -357,000 | 0 | 0 | -3,499,000 | -1,027,000 | -391,000 | -15,000 | -212,000 | -8,000 | -638,000 | -18,000 | -663,000 | ||||||||||||||
net cash from financing activities | -864,000,000 | -268,000,000 | 594,000,000 | -1,053,000,000 | -143,000,000 | -185,000,000 | -455,000,000 | -79,000,000 | -1,132,000,000 | -705,000,000 | 512,000,000 | 469,000,000 | 592,000,000 | 241,000,000 | -477,000,000 | -61,000,000 | -41,000,000 | -444,000,000 | -44,000,000 | 504,000,000 | -79,000,000 | -80,000,000 | -87,000,000 | 42,090,000 | -141,633,000 | -167,500,000 | -47,957,000 | -57,850,000 | -44,254,000 | -85,646,000 | -4,487,000 | 476,283,000 | 456,826,000 | 424,692,000 | 271,246,000 | 209,899,000 | 210,446,000 | 115,690,000 | 197,372,000 | 42,718,000 | 29,864,000 | 29,675,000 | 14,204,000 | 7,615,000 |
total increase in cash | -157,000,000 | -160,000,000 | 176,000,000 | -75,000,000 | -62,000,000 | 191,000,000 | 11,000,000 | 55,000,000 | 33,000,000 | -100,000,000 | -8,000,000 | 136,000,000 | -258,000,000 | 350,000,000 | -42,000,000 | 55,000,000 | 41,000,000 | -98,000,000 | 87,000,000 | -20,000,000 | -162,000,000 | 196,000,000 | -12,000,000 | 3,777,000 | -100,813,000 | -14,279,000 | 76,315,000 | -40,249,000 | 36,283,000 | -145,891,000 | 24,001,000 | -83,652,000 | 104,854,000 | 132,073,000 | 50,650,000 | 48,658,000 | 2,833,000 | -6,005,000 | 38,217,000 | -5,290,000 | -707,000 | 7,825,000 | -1,179,000 | 2,096,000 |
cash, cash equivalents and foreign currency at beginning of period | 0 | 0 | 296,000,000 | |||||||||||||||||||||||||||||||||||||||||
cash, cash equivalents and foreign currency at end of period | -157,000,000 | -160,000,000 | 472,000,000 | |||||||||||||||||||||||||||||||||||||||||
supplemental disclosure | ||||||||||||||||||||||||||||||||||||||||||||
federal income taxes paid during the period | 4,000,000 | |||||||||||||||||||||||||||||||||||||||||||
interest paid during the period | 121,000,000 | 104,000,000 | 151,000,000 | 131,000,000 | 84,000,000 | 119,000,000 | 95,000,000 | |||||||||||||||||||||||||||||||||||||
repurchases of common stock | 0 | -9,000,000 | -14,000,000 | -9,000,000 | -11,000,000 | 0 | 0 | -7,000,000 | -40,000,000 | -35,000,000 | -47,000,000 | -24,000,000 | -47,000,000 | 0 | -11,096,000 | -37,901,000 | -1,003,000 | -8,830,000 | -3,984,000 | -3,695,000 | -767,000 | -1,531,000 | -955,000 | -1,020,000 | -1,019,000 | |||||||||||||||||||
cash and foreign currency at beginning of year | ||||||||||||||||||||||||||||||||||||||||||||
cash and foreign currency at end of year | ||||||||||||||||||||||||||||||||||||||||||||
federal income taxes paid during the year | ||||||||||||||||||||||||||||||||||||||||||||
interest paid during the year | ||||||||||||||||||||||||||||||||||||||||||||
non-cash purchases of investments | -300,000,000 | -332,000,000 | -423,000,000 | -325,000,000 | 429,000,000 | -276,000,000 | -242,000,000 | -801,000,000 | -127,000,000 | -39,000,000 | -32,000,000 | -26,000,000 | -131,000,000 | -40,000,000 | -41,000,000 | -26,000,000 | -189,000,000 | |||||||||||||||||||||||||||
non-cash sales of investments | 300,000,000 | 332,000,000 | 423,000,000 | 325,000,000 | -429,000,000 | 276,000,000 | 242,000,000 | 801,000,000 | 127,000,000 | 39,000,000 | 32,000,000 | 26,000,000 | 131,000,000 | 40,000,000 | 41,000,000 | 26,000,000 | 189,000,000 | |||||||||||||||||||||||||||
local and excise taxes paid | 1,000,000 | 2,000,000 | 23,000,000 | 0 | 9,000,000 | 0 | 11,000,000 | 0 | 0 | -1,000,000 | 10,000,000 | 0 | 0 | 0 | 7,000,000 | 0 | 1,000,000 | 1,000,000 | 7,000,000 | 467,000 | 215,000 | -67,000 | 5,385,000 | -4,000 | 0 | 5,071,000 | 821,000 | |||||||||||||||||
cash, and foreign currency at beginning of period | 0 | 231,000,000 | -126,000,000 | 0 | 377,000,000 | 0 | 0 | 191,000,000 | 0 | 0 | 106,000,000 | |||||||||||||||||||||||||||||||||
cash, and foreign currency at end of period | 191,000,000 | 242,000,000 | -93,000,000 | -100,000,000 | 369,000,000 | -258,000,000 | 350,000,000 | 149,000,000 | 41,000,000 | -98,000,000 | 193,000,000 | |||||||||||||||||||||||||||||||||
increase in deferred merger costs | 0 | 0 | 2,000,000 | -1,000,000 | ||||||||||||||||||||||||||||||||||||||||
cash acquired in merger | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
other assets acquired from merger net of other assets | ||||||||||||||||||||||||||||||||||||||||||||
merger costs capitalized into purchase price | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
net change in unrealized (appreciation) depreciation on swap contracts | -1,000,000 | -1,000,000 | -10,000,000 | -4,000,000 | ||||||||||||||||||||||||||||||||||||||||
increase in due from counterparty | -66,000 | -56,883,000 | -26,282,000 | |||||||||||||||||||||||||||||||||||||||||
mark-to-market of merged debt | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
deferred financing costs and discount paid | ||||||||||||||||||||||||||||||||||||||||||||
increase in administrative services expense | 1,000,000 | 2,000,000 | 1,000,000 | -1,000,000 | ||||||||||||||||||||||||||||||||||||||||
other assets acquired from merger net of other assets, net of unrealized depreciation on derivatives | 0 | |||||||||||||||||||||||||||||||||||||||||||
change in unrealized appreciation from merger accounting | ||||||||||||||||||||||||||||||||||||||||||||
other liabilities acquired from merger net of other assets | ||||||||||||||||||||||||||||||||||||||||||||
cash purchased in merger | ||||||||||||||||||||||||||||||||||||||||||||
reinvestment of stockholder distributions | 0 | 5,324,000 | -15,892,000 | 26,476,000 | 22,700,000 | 17,206,000 | 9,413,000 | 8,420,000 | 3,828,000 | 5,285,000 | 1,440,000 | 911,000 | 616,000 | 324,000 | 124,000 | |||||||||||||||||||||||||||||
borrowings under credit facilities | 754,000,000 | 618,000,000 | 134,637,000 | 244,363,000 | 55,000,000 | 48,000,000 | 44,000,000 | 57,265,000 | 184,400,000 | 5,600,000 | ||||||||||||||||||||||||||||||||||
borrowings under unsecured notes | ||||||||||||||||||||||||||||||||||||||||||||
repayments of credit facilities | -708,000,000 | -610,000,000 | -221,522,000 | -324,228,000 | -138,000,000 | -48,250,000 | -44,240,000 | -52,236,000 | ||||||||||||||||||||||||||||||||||||
repayments under unsecured notes | ||||||||||||||||||||||||||||||||||||||||||||
secured borrowing | ||||||||||||||||||||||||||||||||||||||||||||
cash, restricted cash and foreign currency at beginning of period | ||||||||||||||||||||||||||||||||||||||||||||
cash, restricted cash and foreign currency at end of period | ||||||||||||||||||||||||||||||||||||||||||||
cash and foreign currency at beginning of period | 104,000,000 | 0 | 0 | 138,742,000 | 0 | |||||||||||||||||||||||||||||||||||||||
cash and foreign currency at end of period | 92,000,000 | -100,813,000 | -14,279,000 | 215,057,000 | 36,283,000 | |||||||||||||||||||||||||||||||||||||||
net realized (gain) loss on investments and secured borrowing | 175,217,000 | -23,895,000 | -30,665,000 | 4,343,000 | ||||||||||||||||||||||||||||||||||||||||
net change in unrealized (appreciation) depreciation on investments and secured borrowing | -16,161,000 | 90,891,000 | 110,532,000 | 32,738,000 | 29,116,000 | -54,182,000 | ||||||||||||||||||||||||||||||||||||||
repayments under repurchase agreement | ||||||||||||||||||||||||||||||||||||||||||||
excludes 4,428 of cost of investments acquired from the merger. | ||||||||||||||||||||||||||||||||||||||||||||
increase in directors’ fees payable | 7,000 | -229,000 | 214,000 | 9,000 | 1,000 | |||||||||||||||||||||||||||||||||||||||
increase in accrued capital gains incentive fees | -4,583,000 | |||||||||||||||||||||||||||||||||||||||||||
net change in unrealized (appreciation) depreciation on total return swap | 63,000 | -4,512,000 | ||||||||||||||||||||||||||||||||||||||||||
amortization of deferred financing costs | 805,000 | 351,000 | 221,000 | 225,000 | 223,000 | 205,000 | 175,000 | 170,000 | 130,000 | 31,000 | ||||||||||||||||||||||||||||||||||
increase in interest receivable | -7,749,000 | -8,684,000 | -9,434,000 | -4,044,000 | -1,932,000 | -4,442,000 | -172,000 | -1,688,000 | -966,000 | -404,000 | -111,000 | -190,000 | -57,000 | -44,000 | ||||||||||||||||||||||||||||||
increase in receivable due on total return swap | 856,000 | -1,259,000 | ||||||||||||||||||||||||||||||||||||||||||
issuance of common stock | 408,797,000 | 394,357,000 | 328,603,000 | 281,639,000 | 177,328,000 | 119,460,000 | 60,290,000 | 66,517,000 | 39,649,000 | 35,410,000 | 33,005,000 | 16,229,000 | 8,330,000 | |||||||||||||||||||||||||||||||
offering costs | -1,719,000 | -1,515,000 | -1,700,000 | -1,213,000 | -1,084,000 | -1,042,000 | -168,000 | -280,000 | -181,000 | -3,425,000 | -3,143,000 | -1,512,000 | -494,000 | |||||||||||||||||||||||||||||||
borrowings under repurchase agreement | 23,333,000 | 50,000,000 | 85,714,000 | |||||||||||||||||||||||||||||||||||||||||
cash at beginning of period | 338,895,000 | 0 | 210,714,000 | 0 | 0 | 38,790,000 | 0 | 0 | 9,035,000 | 0 | 0 | 0 | 1,000,000 | |||||||||||||||||||||||||||||||
cash at end of period | 362,896,000 | -83,652,000 | 315,568,000 | 132,073,000 | 50,650,000 | 87,448,000 | -6,005,000 | 38,217,000 | 3,745,000 | -707,000 | 7,825,000 | -1,179,000 | 3,096,000 | |||||||||||||||||||||||||||||||
net change in unrealized (gain) loss on foreign currency | ||||||||||||||||||||||||||||||||||||||||||||
increase in accrued capital gains incentive fee | ||||||||||||||||||||||||||||||||||||||||||||
increase in deferred income | ||||||||||||||||||||||||||||||||||||||||||||
payments to investment adviser for offering and organization costs | 0 | 0 | -641,000 | -140,000 | ||||||||||||||||||||||||||||||||||||||||
see note 8 for a discussion of the company's total return swap agreement. | ||||||||||||||||||||||||||||||||||||||||||||
increase in capital gains incentive fee payable | 14,801,000 | 5,086,000 | ||||||||||||||||||||||||||||||||||||||||||
increase in administrative services fees payable | 729,000 | 107,000 | 75,000 | 153,000 | -18,000 | 4,000 | 38,000 | 33,000 | 10,000 | 15,000 | ||||||||||||||||||||||||||||||||||
borrowings under credit facility | 0 | 2,394,000 | 40,405,000 | 99,934,000 | 57,267,000 | |||||||||||||||||||||||||||||||||||||||
see note 8 for a discussion of the company’s total return swap agreement. | ||||||||||||||||||||||||||||||||||||||||||||
net change in unrealized appreciation (depreciation) on investments | 63,164,000 | |||||||||||||||||||||||||||||||||||||||||||
net change in unrealized appreciation (depreciation) on total return swap | ||||||||||||||||||||||||||||||||||||||||||||
net change in unrealized gain/loss on foreign currency | 72,000 | -21,000 | -52,000 | |||||||||||||||||||||||||||||||||||||||||
net realized gain on investments | -2,433,000 | -14,370,000 | -5,653,000 | -5,698,000 | -294,000 | -1,100,000 | -1,989,000 | -352,000 | -319,000 | -235,000 | -124,000 | |||||||||||||||||||||||||||||||||
decrease/increase in receivable for investments sold and repaid | ||||||||||||||||||||||||||||||||||||||||||||
decrease/increase in payable for investments purchased | 11,135,000 | |||||||||||||||||||||||||||||||||||||||||||
increase in management fee payable | ||||||||||||||||||||||||||||||||||||||||||||
decrease/increase in capital gains incentive fee payable | ||||||||||||||||||||||||||||||||||||||||||||
capital contributions of investment adviser | 57,000 | |||||||||||||||||||||||||||||||||||||||||||
net change in unrealized appreciation on total return swap | -1,079,000 | -208,000 | ||||||||||||||||||||||||||||||||||||||||||
increase/decrease in capital gains incentive fee payable | ||||||||||||||||||||||||||||||||||||||||||||
increase/decrease in administrative services fees payable | ||||||||||||||||||||||||||||||||||||||||||||
see note 4 for a discussion of reimbursements paid by the company to its investment adviser. | ||||||||||||||||||||||||||||||||||||||||||||
payment-in-kind interest | 0 | -21,000 | -20,000 | -62,000 | ||||||||||||||||||||||||||||||||||||||||
net change in unrealized appreciation on investments | -10,393,000 | -7,998,000 | -1,776,000 | -1,772,000 | -4,331,000 | -2,017,000 | -155,000 | |||||||||||||||||||||||||||||||||||||
increase in capital gain incentive fee payable | 1,875,000 | 213,000 | 37,000 | |||||||||||||||||||||||||||||||||||||||||
portfolio company | ||||||||||||||||||||||||||||||||||||||||||||
senior secured loans—first lien—88.2% | ||||||||||||||||||||||||||||||||||||||||||||
1-800 contacts, inc., l+395, 3.8% libor floor, 3/4/15 | ||||||||||||||||||||||||||||||||||||||||||||
advance pierre foods, inc., l+525, 1.8% libor floor, 9/29/16 | ||||||||||||||||||||||||||||||||||||||||||||
airborne tactical advantage co., llc, l+500, 7/2/12 | ||||||||||||||||||||||||||||||||||||||||||||
airvana network solutions inc., l+800, 2.0% libor floor, 3/18/15 | ||||||||||||||||||||||||||||||||||||||||||||
altegrity, inc., l+600, 1.8% libor floor, 2/21/15 | ||||||||||||||||||||||||||||||||||||||||||||
amscan holdings, inc., l+525, 1.5% libor floor, 12/2/17 | ||||||||||||||||||||||||||||||||||||||||||||
amwins group, inc., l+250, 6/8/13 | ||||||||||||||||||||||||||||||||||||||||||||
anchor glass container corp., l+400, 2.0% libor floor, 3/1/16 | ||||||||||||||||||||||||||||||||||||||||||||
ardent health services llc, l+500, 1.5% libor floor, 9/15/15 | ||||||||||||||||||||||||||||||||||||||||||||
aspect software, inc., l+450, 1.8% libor floor, 5/7/16 | ||||||||||||||||||||||||||||||||||||||||||||
attachmate corp., l+500, 1.5% libor floor, 4/27/17 | ||||||||||||||||||||||||||||||||||||||||||||
avaya inc., l+392, 10/24/14 | ||||||||||||||||||||||||||||||||||||||||||||
brock holdings iii, inc., l+450, 1.5% libor floor, 3/16/17 | ||||||||||||||||||||||||||||||||||||||||||||
burger king corp., l+300, 1.5% libor floor, 10/19/16 | ||||||||||||||||||||||||||||||||||||||||||||
c.h.i. overhead doors, inc., l+550, 2.0% libor floor, 4/15/15 | ||||||||||||||||||||||||||||||||||||||||||||
calumet lubricants co., lp, l+400, 1/3/15 | ||||||||||||||||||||||||||||||||||||||||||||
canwest lp, l+500, 1.3% libor floor, 7/23/16 | ||||||||||||||||||||||||||||||||||||||||||||
canwest lp, l+700, 2.0% libor floor, 7/23/16 | ||||||||||||||||||||||||||||||||||||||||||||
carestream health, inc., l+350, 1.5% libor floor, 2/25/17 | ||||||||||||||||||||||||||||||||||||||||||||
ccc information services inc., l+400, 1.5% libor floor, 11/11/15 | ||||||||||||||||||||||||||||||||||||||||||||
cenveo corp., l+475, 1.5% libor floor, 12/21/16 | ||||||||||||||||||||||||||||||||||||||||||||
ceridian corp., l+300, 11/9/14 | ||||||||||||||||||||||||||||||||||||||||||||
citgo petroleum corp., l+700, 2.0% libor floor, 6/24/17 | ||||||||||||||||||||||||||||||||||||||||||||
cmp susquehanna corp., l+200, 5/5/13 | ||||||||||||||||||||||||||||||||||||||||||||
contec llc, l+475, 3.0% libor floor, 7/28/14 | ||||||||||||||||||||||||||||||||||||||||||||
convatec inc., l+425, 1.5% libor floor, 12/22/16 | ||||||||||||||||||||||||||||||||||||||||||||
corel corp., l+400, 5/2/12 | ||||||||||||||||||||||||||||||||||||||||||||
cumulus media inc., l+375, 6/11/14 | ||||||||||||||||||||||||||||||||||||||||||||
custom building products, inc., l+400, 1.8% libor floor, 3/1/15 | ||||||||||||||||||||||||||||||||||||||||||||
data device corp., l+550, 1.8% libor floor, 12/23/16 | ||||||||||||||||||||||||||||||||||||||||||||
dei sales, inc., l+550, 2.0% libor floor, 9/22/13 | ||||||||||||||||||||||||||||||||||||||||||||
digital cinema implementation partners, llc, l+375, 1.3% libor floor, 3/25/17 | ||||||||||||||||||||||||||||||||||||||||||||
east cameron partners, lp, 18.0%, 7/11/11 | ||||||||||||||||||||||||||||||||||||||||||||
equipower resources holdings, llc, l+425, 1.5% libor floor, 1/26/18 | ||||||||||||||||||||||||||||||||||||||||||||
fairway group acquisition co., l+600, 1.5% libor floor, 3/3/17 | ||||||||||||||||||||||||||||||||||||||||||||
fifth third processing solutions llc, l+400, 1.5% libor floor, 11/3/16 | ||||||||||||||||||||||||||||||||||||||||||||
first data corp., l+275, 9/24/14 | ||||||||||||||||||||||||||||||||||||||||||||
first reserve crestwood holdings llc, l+850, 2.0% libor floor, 10/3/16 | ||||||||||||||||||||||||||||||||||||||||||||
freescale semiconductor, inc., l+425, 12/1/16 | ||||||||||||||||||||||||||||||||||||||||||||
general chemical corp., l+350, 1.5% libor floor, 3/9/18 | ||||||||||||||||||||||||||||||||||||||||||||
getty images, inc., l+375, 1.5% libor floor, 11/7/16 | ||||||||||||||||||||||||||||||||||||||||||||
global tel link corp., l+400, 1.0% libor floor, 11/10/16 | ||||||||||||||||||||||||||||||||||||||||||||
goodman global, inc., l+400, 1.8% libor floor, 10/28/16 | ||||||||||||||||||||||||||||||||||||||||||||
green tree credit solutions llc, l+575, 2.3% libor floor, 12/18/15 | ||||||||||||||||||||||||||||||||||||||||||||
harbor freight tools usa, inc., l+500, 1.5% libor floor, 12/22/17 | ||||||||||||||||||||||||||||||||||||||||||||
harland clarke holdings corp., l+250, 6/30/14 | ||||||||||||||||||||||||||||||||||||||||||||
hcr manor care, inc., l+350, 1.5% libor floor, 4/6/18 | ||||||||||||||||||||||||||||||||||||||||||||
houghton international inc., l+500, 1.8% libor floor, 1/31/16 | ||||||||||||||||||||||||||||||||||||||||||||
ihealth technologies, inc., l+600, 1.8% libor floor, 12/28/16 | ||||||||||||||||||||||||||||||||||||||||||||
infogroup, inc., l+450, 1.8% libor floor, 7/1/16 | ||||||||||||||||||||||||||||||||||||||||||||
intelligrated, inc., l+575, 1.8% libor floor, 2/18/17 | ||||||||||||||||||||||||||||||||||||||||||||
intralinks, inc., l+425, 1.5% libor floor, 6/15/14 | ||||||||||||||||||||||||||||||||||||||||||||
net change in unrealized loss on foreign currency | 15,000 | -93,000 | 85,000 | 11,000 | ||||||||||||||||||||||||||||||||||||||||
cash at beginning of year | ||||||||||||||||||||||||||||||||||||||||||||
cash at end of year | ||||||||||||||||||||||||||||||||||||||||||||
non-cash financing activities | ||||||||||||||||||||||||||||||||||||||||||||
payable to investment adviser for offering and organization costs | ||||||||||||||||||||||||||||||||||||||||||||
senior secured loans—first lien—124.4% | ||||||||||||||||||||||||||||||||||||||||||||
airvana network solutions inc., l+900, 2.0% libor floor, 8/27/14 | ||||||||||||||||||||||||||||||||||||||||||||
alaska communications systems holdings, inc., l+400, 1.5% libor floor, 10/21/16 | ||||||||||||||||||||||||||||||||||||||||||||
alliant holdings llc, l+500, 1.8% libor floor, 8/16/14 | ||||||||||||||||||||||||||||||||||||||||||||
armstrong world industries, inc., l+350, 1.5% libor floor, 5/23/17 | ||||||||||||||||||||||||||||||||||||||||||||
atlantic broadband finance, llc, l+350, 1.5% libor floor, 11/29/15 | ||||||||||||||||||||||||||||||||||||||||||||
avaya inc., l+350, 0.8% libor floor, 10/24/14 | ||||||||||||||||||||||||||||||||||||||||||||
bbhi acquisition llc, l+300, 1.5% libor floor, 12/14/17 | ||||||||||||||||||||||||||||||||||||||||||||
bentley systems inc., l+425, 1.5% libor floor, 11/24/16 | ||||||||||||||||||||||||||||||||||||||||||||
burger king corp., l+450, 1.8% libor floor, 10/19/16 | ||||||||||||||||||||||||||||||||||||||||||||
cdw corp., l+500, 7/10/17 | ||||||||||||||||||||||||||||||||||||||||||||
cedar fair, lp, l+400, 1.5% libor floor, 12/15/16 | ||||||||||||||||||||||||||||||||||||||||||||
clopay ames true temper holding corp., l+600, 1.8% libor floor, 9/30/16 | ||||||||||||||||||||||||||||||||||||||||||||
dineequity, inc., l+450, 1.5% libor floor, 10/7/17 | ||||||||||||||||||||||||||||||||||||||||||||
dunkin’ brands, inc., l+425, 1.5% libor floor, 11/23/17 | ||||||||||||||||||||||||||||||||||||||||||||
fairmount minerals, ltd., l+450, 1.8% libor floor, 8/5/16 | ||||||||||||||||||||||||||||||||||||||||||||
general chemical corp., l+500, 1.8% libor floor, 10/6/15 | ||||||||||||||||||||||||||||||||||||||||||||
global tel link corp., l+550, 1.8% libor floor, 11/10/16 | ||||||||||||||||||||||||||||||||||||||||||||
green mountain coffee roasters, inc., l+400, 1.5% libor floor, 12/16/16 | ||||||||||||||||||||||||||||||||||||||||||||
grifols, sa , l+425, 1.8% libor floor, 6/4/16 | ||||||||||||||||||||||||||||||||||||||||||||
hanger orthopedic group, inc., l+375, 1.5% libor floor, 12/1/16 | ||||||||||||||||||||||||||||||||||||||||||||
harbourvest partners lp, l+475, 1.5% libor floor, 12/17/16 | ||||||||||||||||||||||||||||||||||||||||||||
intelsat jackson holdings sa, l+375, 1.5% libor floor, 4/2/18 | ||||||||||||||||||||||||||||||||||||||||||||
interactive data corp., l+500, 1.8% libor floor, 1/29/17 | ||||||||||||||||||||||||||||||||||||||||||||
intralinks, inc.,l+425, 1.5% libor floor, 6/15/14 | ||||||||||||||||||||||||||||||||||||||||||||
kik custom products inc., l+225, 5/31/14 | ||||||||||||||||||||||||||||||||||||||||||||
knology, inc., l+400, 1.5% libor floor, 10/15/16 | ||||||||||||||||||||||||||||||||||||||||||||
lantiq deutschland gmbh, l+700, 2.0% libor floor, 11/16/15 | ||||||||||||||||||||||||||||||||||||||||||||
mda info products ltd., l+550, 1.5% libor floor, 1/4/17 | ||||||||||||||||||||||||||||||||||||||||||||
medassets, inc., l+375, 1.5% libor floor, 11/22/16 | ||||||||||||||||||||||||||||||||||||||||||||
michael foods group, inc., l+450, 1.8% libor floor, 6/29/16 | ||||||||||||||||||||||||||||||||||||||||||||
increase in reimbursement from sponsor | -124,000 | |||||||||||||||||||||||||||||||||||||||||||
payments to investment advisor for offering and organization costs | -70,000 | -940,000 | -668,000 | -535,000 | -500,000 | |||||||||||||||||||||||||||||||||||||||
capital contributions of investment advisor | 25,000 | 280,000 | 181,000 | 76,000 | 188,000 | |||||||||||||||||||||||||||||||||||||||
senior secured loans—first lien—116.8% | ||||||||||||||||||||||||||||||||||||||||||||
avaya inc., l+275, 10/24/14 | ||||||||||||||||||||||||||||||||||||||||||||
caritor, inc. | ||||||||||||||||||||||||||||||||||||||||||||
cdw corp., l+400, 10/10/14 | ||||||||||||||||||||||||||||||||||||||||||||
cincinnati bell inc., l+500, 1.5% libor floor, 6/10/17 | ||||||||||||||||||||||||||||||||||||||||||||
columbian chemicals co., l+600, 3/16/13 | ||||||||||||||||||||||||||||||||||||||||||||
edwards ltd., l+200, 5/31/14 | ||||||||||||||||||||||||||||||||||||||||||||
intergraph corp., l+400, 2.0% libor floor, 5/29/14 | ||||||||||||||||||||||||||||||||||||||||||||
intralinks, inc., l+450, 1.5% libor floor, 6/15/14 | ||||||||||||||||||||||||||||||||||||||||||||
kik custom products inc., l+225, 2.0% libor floor, 5/31/14 | ||||||||||||||||||||||||||||||||||||||||||||
lyondellbasell industries nv, l+400, 1.5% libor floor, 4/30/16 | ||||||||||||||||||||||||||||||||||||||||||||
mosaic us holdings inc., l+275, 4/3/13 | ||||||||||||||||||||||||||||||||||||||||||||
nalco co., l+300, 1.5% libor floor, 11/1/17 | ||||||||||||||||||||||||||||||||||||||||||||
national processing co. group, inc., l+500, 2.5% libor floor, 9/29/13 | ||||||||||||||||||||||||||||||||||||||||||||
nbty, inc, l+450, 1.8% libor floor, 10/1/17 | ||||||||||||||||||||||||||||||||||||||||||||
nco group, inc., l+500, 2.5% libor floor, 5/15/13 | ||||||||||||||||||||||||||||||||||||||||||||
new development holdings, llc | ||||||||||||||||||||||||||||||||||||||||||||
osi restaurant partners, llc, l+225, 6/14/14 | ||||||||||||||||||||||||||||||||||||||||||||
ozburn hessey holding co., llc, l+550, 2.0% libor floor, 4/8/16 | ||||||||||||||||||||||||||||||||||||||||||||
protection one, inc., l+425, 1.8% libor floor, 6/4/16 | ||||||||||||||||||||||||||||||||||||||||||||
repconstrickland, inc., l+525, 3.3% libor floor, 2/19/13 | ||||||||||||||||||||||||||||||||||||||||||||
revlon consumer products corp., l+400, 2.0% libor floor, 3/11/15 | ||||||||||||||||||||||||||||||||||||||||||||
reynolds & reynolds co., l+350, 1.8% libor floor, 4/21/17 | ||||||||||||||||||||||||||||||||||||||||||||
reynolds group holdings inc., l+441, 1.8% libor floor, 5/5/16 | ||||||||||||||||||||||||||||||||||||||||||||
sagittarius restaurants llc, l+550, 2.0% libor floor, 5/18/15 | ||||||||||||||||||||||||||||||||||||||||||||
savvis, inc., l+500, 1.8% libor floor, 8/4/16 | ||||||||||||||||||||||||||||||||||||||||||||
semgroup corp., l+700, 1.5% libor floor, 11/30/12 | ||||||||||||||||||||||||||||||||||||||||||||
sheridan production co., llc, l+550, 2.0% libor floor, 4/20/17 | ||||||||||||||||||||||||||||||||||||||||||||
sitel, llc, l+550, 1/30/14 | ||||||||||||||||||||||||||||||||||||||||||||
smurfit-stone container enterprises, inc., l+475, 2.0% libor floor, 2/10/16 | ||||||||||||||||||||||||||||||||||||||||||||
spansion, llc, l+550, 2.0% libor floor, 2/9/15 | ||||||||||||||||||||||||||||||||||||||||||||
styron sarl, l+575, 1.8% libor floor, 6/14/16 | ||||||||||||||||||||||||||||||||||||||||||||
telcordia technologies inc., l+500, 1.8% libor floor, 4/30/16 | ||||||||||||||||||||||||||||||||||||||||||||
texas competitive electric holdings co. llc, l+350, 10/10/14 | ||||||||||||||||||||||||||||||||||||||||||||
tns, inc., l+400, 2.0% libor floor, 11/18/15 | ||||||||||||||||||||||||||||||||||||||||||||
toys“r”us, inc., l+450, 1.5% libor floor, 8/17/16 | ||||||||||||||||||||||||||||||||||||||||||||
trident exploration corp., l+950, 3.0% libor floor, 6/10/14 | ||||||||||||||||||||||||||||||||||||||||||||
univar inc., l+300, 10/11/14 | ||||||||||||||||||||||||||||||||||||||||||||
universal health services, inc., l+400, 1.5% libor floor, 7/28/16 | ||||||||||||||||||||||||||||||||||||||||||||
vertafore, inc., l+500, 1.8% libor floor, 7/29/16 | ||||||||||||||||||||||||||||||||||||||||||||
wcp exposition services operating co. llc, l+600, 3.0% libor floor, 8/29/11 | ||||||||||||||||||||||||||||||||||||||||||||
west corp., l+500, 3.5% libor floor, 10/24/13 | ||||||||||||||||||||||||||||||||||||||||||||
yell group plc, l+300, 7/31/14 | ||||||||||||||||||||||||||||||||||||||||||||
total senior secured loans—first lien | ||||||||||||||||||||||||||||||||||||||||||||
decrease in capital gain incentive fee payable | ||||||||||||||||||||||||||||||||||||||||||||
senior secured loans—first lien—113.0% | ||||||||||||||||||||||||||||||||||||||||||||
1-800 contacts, inc., l+395, 3/4/15 | ||||||||||||||||||||||||||||||||||||||||||||
affinion group inc., l+350, 4/8/16 | ||||||||||||||||||||||||||||||||||||||||||||
american general finance corp., l+550, 4/16/15 | ||||||||||||||||||||||||||||||||||||||||||||
anchor glass container corp., l+400, 3/1/16 | ||||||||||||||||||||||||||||||||||||||||||||
ardent health services, llc, l+500, 9/15/15 | ||||||||||||||||||||||||||||||||||||||||||||
aspect software, inc., l+450, 5/7/16 | ||||||||||||||||||||||||||||||||||||||||||||
avaya, inc., l+275, 10/24/14 | ||||||||||||||||||||||||||||||||||||||||||||
canwest mediaworks, l+700, 7/23/16 | ||||||||||||||||||||||||||||||||||||||||||||
cdw corporation, l+400, 10/10/14 | ||||||||||||||||||||||||||||||||||||||||||||
cincinnati bell, l+500, 6/10/17 | ||||||||||||||||||||||||||||||||||||||||||||
citgo petroleum corporation, l+700, 6/30/17 | ||||||||||||||||||||||||||||||||||||||||||||
columbian chemicals, l+600, 3/16/13 | ||||||||||||||||||||||||||||||||||||||||||||
contec llc, l+475, 7/28/14 | ||||||||||||||||||||||||||||||||||||||||||||
cumulus media inc., l+400, 6/11/14 | ||||||||||||||||||||||||||||||||||||||||||||
custom building products, l+400, 3/17/15 | ||||||||||||||||||||||||||||||||||||||||||||
edwards limited, l+200, 5/31/14 | ||||||||||||||||||||||||||||||||||||||||||||
freescale semiconductor, l+425, 12/1/16 | ||||||||||||||||||||||||||||||||||||||||||||
green tree financial, l+575, 12/15/15 | ||||||||||||||||||||||||||||||||||||||||||||
info group inc., l+450, 5/15/16 | ||||||||||||||||||||||||||||||||||||||||||||
infrastrux group, inc., l+500, 0.5% pik, 11/3/12 | ||||||||||||||||||||||||||||||||||||||||||||
intergraph, l+400, 5/29/14 | ||||||||||||||||||||||||||||||||||||||||||||
intralinks, inc., l+275, 6/15/14 | ||||||||||||||||||||||||||||||||||||||||||||
kik custom products, l+225, 5/31/14 | ||||||||||||||||||||||||||||||||||||||||||||
lyondellbasell industries, l+400, 4/30/16 | ||||||||||||||||||||||||||||||||||||||||||||
michael foods, l+450, 5/1/14 | ||||||||||||||||||||||||||||||||||||||||||||
mosaic sales solutions, l+275, 4/3/13 | ||||||||||||||||||||||||||||||||||||||||||||
multiplan, inc., l+425, 4/12/13 | ||||||||||||||||||||||||||||||||||||||||||||
national processing co., l+500, 9/29/13 | ||||||||||||||||||||||||||||||||||||||||||||
nco group, l+500, 5/15/13 | ||||||||||||||||||||||||||||||||||||||||||||
new development holding, llc | ||||||||||||||||||||||||||||||||||||||||||||
osi restaurant partners, l+225, 6/14/14 | ||||||||||||||||||||||||||||||||||||||||||||
ozburn hessey, l+550, 7/15/14 | ||||||||||||||||||||||||||||||||||||||||||||
pierre foods, inc., l+500, 3/1/16 | ||||||||||||||||||||||||||||||||||||||||||||
protection one alarm monitoring, inc., l+425, 6/4/16 | ||||||||||||||||||||||||||||||||||||||||||||
quantum corp., l+350, 7/12/14 | ||||||||||||||||||||||||||||||||||||||||||||
repcon strickland, l+475, 4/1/13 | ||||||||||||||||||||||||||||||||||||||||||||
revlon consumer products corp., l+400, 3/11/15 | ||||||||||||||||||||||||||||||||||||||||||||
reynolds & reynolds, l+350, 5/15/17 | ||||||||||||||||||||||||||||||||||||||||||||
reynolds group ltd., l+425, 5/5/16 | ||||||||||||||||||||||||||||||||||||||||||||
semgroup, l+700, 11/30/12 | ||||||||||||||||||||||||||||||||||||||||||||
sheridan group inc., l+550, 4/16/17 | ||||||||||||||||||||||||||||||||||||||||||||
sitel a.k.a. clientlogic corp., l+550, 1/30/14 | ||||||||||||||||||||||||||||||||||||||||||||
smurfit-stone container enterprises, inc., l+475, 2/10/16 | ||||||||||||||||||||||||||||||||||||||||||||
spansion, inc., l+550, 2/9/15 | ||||||||||||||||||||||||||||||||||||||||||||
styron, l+575, 6/14/16 | ||||||||||||||||||||||||||||||||||||||||||||
telcordia technologies inc., l+500, 4/30/16 | ||||||||||||||||||||||||||||||||||||||||||||
trident exploration corp., l+950, 6/10/15 | ||||||||||||||||||||||||||||||||||||||||||||
vertafore, inc., l+400, 7/31/14 | ||||||||||||||||||||||||||||||||||||||||||||
wcp exposition services operating co., l+600, 8/29/11 | ||||||||||||||||||||||||||||||||||||||||||||
west corp., l+500, 10/24/13 | ||||||||||||||||||||||||||||||||||||||||||||
borrowing under credit facility | 4,400,000 | |||||||||||||||||||||||||||||||||||||||||||
senior secured loans - first lien - 83.6% | ||||||||||||||||||||||||||||||||||||||||||||
camelbak products, prime+475, 8/4/11 | ||||||||||||||||||||||||||||||||||||||||||||
first data corp., l+ 275, 9/24/14 | ||||||||||||||||||||||||||||||||||||||||||||
global tel link corp., l+400, 3/2/16 | ||||||||||||||||||||||||||||||||||||||||||||
international lease finance corp., l+475, 3/17/15 | ||||||||||||||||||||||||||||||||||||||||||||
kenan advantage group, inc., l+275, 12/16/11 | ||||||||||||||||||||||||||||||||||||||||||||
kik custom products, l+225, 6/2/14 | ||||||||||||||||||||||||||||||||||||||||||||
total senior secured loans - first lien | ||||||||||||||||||||||||||||||||||||||||||||
senior secured loans - second lien - 43.4% | ||||||||||||||||||||||||||||||||||||||||||||
allen systems group, l+800, 2.0% pik, 10/13/16 | ||||||||||||||||||||||||||||||||||||||||||||
amwins group, inc., l+550, 6/8/14 | ||||||||||||||||||||||||||||||||||||||||||||
aspect software group, l+700, 7/11/12 | ||||||||||||||||||||||||||||||||||||||||||||
asurion corp., l+650, 7/3/15 | ||||||||||||||||||||||||||||||||||||||||||||
attachmate corp., l+675, 10/13/13 | ||||||||||||||||||||||||||||||||||||||||||||
awesome acquisition co., l+ 500, 6/4/14 | ||||||||||||||||||||||||||||||||||||||||||||
bresnan communications llc, l+450, 3/29/14 | ||||||||||||||||||||||||||||||||||||||||||||
datatel, inc., l+825, 12/10/16 | ||||||||||||||||||||||||||||||||||||||||||||
dresser, inc., l+575, 5/4/15 | ||||||||||||||||||||||||||||||||||||||||||||
fr brand acquisition corp., l+640, 2/7/15 | ||||||||||||||||||||||||||||||||||||||||||||
harrington holdings, l+600, 7/11/14 | ||||||||||||||||||||||||||||||||||||||||||||
ilc holdings, inc., 11.5%, 6/30/14 | ||||||||||||||||||||||||||||||||||||||||||||
intergraph, l+825, 11/28/14 | ||||||||||||||||||||||||||||||||||||||||||||
sirius computer, l+600, 5/30/13 | ||||||||||||||||||||||||||||||||||||||||||||
tpf a.k.a. tenaska power fund, l+425, 12/15/14 | ||||||||||||||||||||||||||||||||||||||||||||
wm. bolthouse farms, inc., l+750, 8/11/16 | ||||||||||||||||||||||||||||||||||||||||||||
total senior secured loans - second lien | ||||||||||||||||||||||||||||||||||||||||||||
senior secured bonds - 6.3% | ||||||||||||||||||||||||||||||||||||||||||||
paetec communications, 8.9%, 6/30/17 | ||||||||||||||||||||||||||||||||||||||||||||
reader’s digest association, inc., l+650, 2/15/17 | ||||||||||||||||||||||||||||||||||||||||||||
total senior secured bonds | ||||||||||||||||||||||||||||||||||||||||||||
mezzanine debt/other - 11.7% | ||||||||||||||||||||||||||||||||||||||||||||
ati enterprises, inc., l+1100, 12/30/16 | ||||||||||||||||||||||||||||||||||||||||||||
base clo i class e, euribor+500, 10/17/18 | ||||||||||||||||||||||||||||||||||||||||||||
n.e.w. customer service cos., inc., l+750, 3/22/17 | ||||||||||||||||||||||||||||||||||||||||||||
total mezzanine debt/other | ||||||||||||||||||||||||||||||||||||||||||||
total investments - 145.0% | ||||||||||||||||||||||||||||||||||||||||||||
liabilities in excess of other assets - | ||||||||||||||||||||||||||||||||||||||||||||
net assets - 100.0% | ||||||||||||||||||||||||||||||||||||||||||||
senior secured loans—first lien—49.1% | ||||||||||||||||||||||||||||||||||||||||||||
apptis (de), inc., l+325, 12/20/12 | ||||||||||||||||||||||||||||||||||||||||||||
caritor, inc. (keane, inc.), l+225, 6/4/13 | ||||||||||||||||||||||||||||||||||||||||||||
data transmission network corp., l+500, 3/10/13 | ||||||||||||||||||||||||||||||||||||||||||||
global tel link corp., l+600, 2/14/13 | ||||||||||||||||||||||||||||||||||||||||||||
king pharmaceuticals, inc., l+500, 4/19/12 | ||||||||||||||||||||||||||||||||||||||||||||
national processing co., l+500, 10/31/13 | ||||||||||||||||||||||||||||||||||||||||||||
pierre foods, inc., l+600, 9/30/14 | ||||||||||||||||||||||||||||||||||||||||||||
safenet, inc., l+250, 4/12/14 | ||||||||||||||||||||||||||||||||||||||||||||
vertellus specialties, inc., l+425, 12/10/12 | ||||||||||||||||||||||||||||||||||||||||||||
senior secured loans—second lien—48.8% | ||||||||||||||||||||||||||||||||||||||||||||
allen systems group, l+800, 2.0% pik, 4/19/14 | ||||||||||||||||||||||||||||||||||||||||||||
american safety razor, l+625, 1/30/14 | ||||||||||||||||||||||||||||||||||||||||||||
aspect software group, l+700, 6/29/12 | ||||||||||||||||||||||||||||||||||||||||||||
awesome acquisition co., l+500, 6/4/14 | ||||||||||||||||||||||||||||||||||||||||||||
building materials corp. of america, l+575, 10/6/14 | ||||||||||||||||||||||||||||||||||||||||||||
custom building products, l+800, 4/20/12 | ||||||||||||||||||||||||||||||||||||||||||||
fr brand acquisition corp, l+600, 2/7/15 | ||||||||||||||||||||||||||||||||||||||||||||
ilc holdings, inc., 11.5%, 6/30/12 | ||||||||||||||||||||||||||||||||||||||||||||
lntergraph, l+600, 11/28/14 | ||||||||||||||||||||||||||||||||||||||||||||
sorenson communications, inc., l+700, 2/16/14 | ||||||||||||||||||||||||||||||||||||||||||||
total senior secured loans—second lien | ||||||||||||||||||||||||||||||||||||||||||||
mezzanine debt—10.0% | ||||||||||||||||||||||||||||||||||||||||||||
ati enterprises, inc., l+1100, 12/15/16 | ||||||||||||||||||||||||||||||||||||||||||||
sorenson holdings, inc., l+1200 pik, 8/16/14 | ||||||||||||||||||||||||||||||||||||||||||||
total mezzanine debt | ||||||||||||||||||||||||||||||||||||||||||||
total investments—107.9% | ||||||||||||||||||||||||||||||||||||||||||||
liabilities in excess of other assets— | ||||||||||||||||||||||||||||||||||||||||||||
net assets—100.0% | ||||||||||||||||||||||||||||||||||||||||||||
increase in reimbursement receivable from sponsor | -12,000 | |||||||||||||||||||||||||||||||||||||||||||
senior secured loans - first lien - 48.7% | ||||||||||||||||||||||||||||||||||||||||||||
1-800 contacts, inc., l+395, 3/04/15 | ||||||||||||||||||||||||||||||||||||||||||||
caritor, inc. (keane, inc.), l+225, 6/04/13 | ||||||||||||||||||||||||||||||||||||||||||||
headwaters, inc., l+675, 4/30/11 | ||||||||||||||||||||||||||||||||||||||||||||
senior secured loans - second lien - 38.0% | ||||||||||||||||||||||||||||||||||||||||||||
asurion corp., l+650, 7/03/15 | ||||||||||||||||||||||||||||||||||||||||||||
awesome acquisition co., l+500, 6/04/14 | ||||||||||||||||||||||||||||||||||||||||||||
dresser, inc,. l+575, 5/04/15 | ||||||||||||||||||||||||||||||||||||||||||||
fr brand acquisiton corp, l+600, 2/7/15 | ||||||||||||||||||||||||||||||||||||||||||||
intergraph, l+600, 11/28/14 | ||||||||||||||||||||||||||||||||||||||||||||
senior secured bonds - second lien - 4.9% | ||||||||||||||||||||||||||||||||||||||||||||
protection one, inc., 12%, 11/15/11 | ||||||||||||||||||||||||||||||||||||||||||||
total senior secured bonds - second lien | ||||||||||||||||||||||||||||||||||||||||||||
total investments - 91.6% | ||||||||||||||||||||||||||||||||||||||||||||
assets in excess of liabilities - 8.4% | ||||||||||||||||||||||||||||||||||||||||||||
senior secured loans — first lien - 76.0% | ||||||||||||||||||||||||||||||||||||||||||||
corel corp., l+400, 5/02/12 | ||||||||||||||||||||||||||||||||||||||||||||
sitel a.k.a clientlogic corp. l+550, 1/30/14 | ||||||||||||||||||||||||||||||||||||||||||||
wcp exposition services operating company, l+600, 8/29/11 | ||||||||||||||||||||||||||||||||||||||||||||
total senior secured loans — first lien | ||||||||||||||||||||||||||||||||||||||||||||
senior secured loans — second lien — 33.2% | ||||||||||||||||||||||||||||||||||||||||||||
awesome acquisition co., l+ 500, 6/04/14 | ||||||||||||||||||||||||||||||||||||||||||||
dresser, inc. l+575, 5/04/15 | ||||||||||||||||||||||||||||||||||||||||||||
total senior secured loans — second lien | ||||||||||||||||||||||||||||||||||||||||||||
senior unsecured bonds — 5.6% | ||||||||||||||||||||||||||||||||||||||||||||
osi restaurant partners llc, 10%, 6/15/15 | ||||||||||||||||||||||||||||||||||||||||||||
total senior unsecured bonds | ||||||||||||||||||||||||||||||||||||||||||||
total investments — 114.8% | ||||||||||||||||||||||||||||||||||||||||||||
liabilities in excess of other assets — | ||||||||||||||||||||||||||||||||||||||||||||
net assets — 100.0% | ||||||||||||||||||||||||||||||||||||||||||||
senior secured loans - first lien - 81.9% | ||||||||||||||||||||||||||||||||||||||||||||
1-800 contacts, inc., l+395, 12/19/14 | ||||||||||||||||||||||||||||||||||||||||||||
apptis | ||||||||||||||||||||||||||||||||||||||||||||
kenan advantage group, inc., l+300, 12/16/11 | ||||||||||||||||||||||||||||||||||||||||||||
west corp., l+350, 10/24/13 | ||||||||||||||||||||||||||||||||||||||||||||
senior secured loans - second lien - 29.5% | ||||||||||||||||||||||||||||||||||||||||||||
total investments - 111.4% | ||||||||||||||||||||||||||||||||||||||||||||
net income | ||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash from operating activities: increase in accrued liabilities | ||||||||||||||||||||||||||||||||||||||||||||
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