Goldman Sachs BDC, Inc(NYSE:GSBD) 
Goldman Sachs BDC, Inc. is a business development company specializing in middle market and mezzanine investment in private companies. It seeks to make capital appreciation through direct originations of secured debt, senior secured debt, junior secured debt, including first lien, first lien/last-ou...
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2024-12-31 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-03-31 | 2021-12-31 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
investment income: | ||||||||||||||
from non-controlled/non-affiliated investments: | ||||||||||||||
interest income | 76,202,000 | 81,197,000 | 81,060,000 | 101,952,000 | 98,130,000 | 71,599,000 | 29,515,000 | 33,022,000 | 34,246,000 | 34,713,000 | 31,569,000 | |||
payment-in-kind income | 7,126,000 | 6,854,000 | 6,808,000 | 8,735,000 | 7,717,000 | |||||||||
other income | 1,075,000 | 1,247,000 | 865,000 | 664,000 | 882,000 | 1,217,000 | 247,000 | 507,000 | 499,000 | 870,000 | 651,000 | |||
dividend income | 208,000 | 138,000 | 107,000 | 69,000 | 5,000 | 35,000 | 58,000 | 53,000 | 32,000 | |||||
from non-controlled affiliated investments: | ||||||||||||||
total investment income | 86,062,000 | 91,596,000 | 90,970,000 | 112,083,000 | 107,404,000 | 78,305,000 | 31,972,000 | 35,467,000 | 36,856,000 | 38,401,000 | 36,537,000 | |||
expenses: | ||||||||||||||
interest and other debt expenses | 28,758,000 | 28,079,000 | 26,416,000 | 27,775,000 | 27,264,000 | 15,667,000 | 8,894,000 | 8,463,000 | 9,896,000 | 9,501,000 | 8,453,000 | |||
management fees | 8,181,000 | 8,179,000 | 8,408,000 | 8,970,000 | 8,921,000 | 8,817,000 | 3,666,000 | 3,652,000 | 3,766,000 | 3,742,000 | 3,536,000 | |||
incentive fees | 3,843,000 | 7,051,000 | 8,526,000 | 7,837,000 | 22,302,000 | 8,190,000 | 2,244,000 | 2,339,000 | 4,144,000 | 493,000 | ||||
professional fees | 881,000 | 698,000 | 781,000 | 888,000 | 878,000 | 878,000 | 714,000 | 888,000 | 735,000 | 689,000 | 642,000 | |||
directors’ fees | 208,000 | 206,000 | 207,000 | 208,000 | 207,000 | 203,000 | 139,000 | 121,000 | 117,000 | 114,000 | 113,000 | |||
other general and administrative expenses | 1,110,000 | 1,166,000 | 1,273,000 | 1,026,000 | 1,057,000 | 1,112,000 | ||||||||
total expenses | 42,981,000 | 45,379,000 | 45,611,000 | 46,704,000 | 60,629,000 | 34,867,000 | 14,026,000 | 16,017,000 | 17,425,000 | 18,862,000 | 13,813,000 | |||
net investment income before taxes | 43,081,000 | 46,217,000 | 45,359,000 | 65,379,000 | 48,761,000 | 50,983,000 | 18,606,000 | 19,844,000 | 19,431,000 | 19,539,000 | 22,724,000 | |||
income tax expense, including excise tax | 891,000 | 907,000 | 906,000 | 877,000 | 775,000 | 833,000 | 427,000 | 469,000 | 459,000 | 452,000 | 439,000 | |||
net investment income after taxes | 42,190,000 | 45,310,000 | 44,453,000 | 64,502,000 | 47,986,000 | 50,150,000 | 18,179,000 | 19,375,000 | 18,972,000 | 19,087,000 | 22,285,000 | |||
net realized and unrealized gains on investment transactions: | ||||||||||||||
net realized gain from: | ||||||||||||||
non-controlled/non-affiliated investments | -2,843,000 | 5,418,000 | -70,297,000 | -2,953,000 | -36,261,000 | -623,000 | -5,434,000 | 1,992,000 | 22,000 | -8,570,000 | -24,722,000 | |||
non-controlled affiliated investments | -10,922,000 | 472,000 | -295,000 | 2,503,000 | 3,793,000 | -9,000 | -7,217,000 | 5,840,000 | -2,756,000 | |||||
foreign currency and other transactions | 23,000 | 19,000 | 225,000 | -5,000 | 200,000 | -779,000 | ||||||||
net change in unrealized appreciation (depreciation) from: | ||||||||||||||
foreign currency forward contracts | -51,750 | 63,000 | -181,000 | 30,000 | 28,000 | 60,000 | 39,000 | 34,000 | 18,000 | |||||
foreign currency translations and other transactions | -704,000 | 1,221,000 | -3,408,000 | -1,975,000 | -1,650,000 | 1,778,000 | ||||||||
net realized and unrealized gains | -18,511,000 | -20,556,000 | -5,164,000 | 1,332,000 | -19,537,000 | -9,760,000 | -82,058,000 | -10,472,000 | -10,072,000 | -2,926,000 | -20,274,000 | |||
benefit for taxes on realized gain/loss on investments | 41,000 | -49,000 | 121,000 | |||||||||||
benefit for taxes on unrealized appreciation/depreciation on investments | -170,000 | -386,000 | -232,000 | 99,000 | -152,000 | 204,000 | ||||||||
net increase in net assets from operations | 23,720,000 | 24,705,000 | 39,289,000 | 65,664,000 | 28,063,000 | 40,158,000 | ||||||||
weighted-average shares outstanding | 115,576,890,000 | 114,398,468,000 | 117,204,952,000 | 114,673,460,000 | 109,463,144,000 | 104,591,739,000 | 102,258,701,000 | 101,866,172,000 | 101,691,076,000 | 40,396,319,000 | 40,313,662,000 | 40,332,542 | 40,297,090 | 40,261,057 |
basic and diluted net investment income per share | 0.37 | 0.4 | 0.38 | |||||||||||
basic and diluted earnings per share | 0.21 | 0.22 | 0.34 | |||||||||||
net expenses | 45,611,000 | 46,704,000 | 58,643,000 | 27,322,000 | 13,366,000 | |||||||||
from controlled affiliated investments: | ||||||||||||||
fee waivers | -1,986,000 | -7,545,000 | ||||||||||||
controlled affiliated investments | -2,035,000 | -4,704,000 | 32,000 | 12,000 | -673,000 | -894,000 | ||||||||
net investment income per share | 0.59 | 0.46 | 0.49 | 0.45 | 0.48 | 0.47 | 0.47 | 0.55 | ||||||
earnings per share | 0.6 | 0.27 | 0.39 | -1.58 | 0.22 | 0.22 | 0.4 | 0.06 | ||||||
payment-in-kind | 4,746,000 | 614,000 | 292,000 | 284,000 | 174,000 | 302,000 | ||||||||
total investment income from non-controlled/non-affiliated investments | 30,376,000 | 33,821,000 | 35,029,000 | 35,757,000 | 32,522,000 | |||||||||
total investment income from non-controlled affiliated investments | 865,000 | 926,000 | 1,128,000 | 1,016,000 | 1,030,000 | |||||||||
total investment income from controlled affiliated investments | 731,000 | 720,000 | 699,000 | 1,628,000 | 2,985,000 | |||||||||
administration, custodian and transfer agent fees | 241,000 | 243,000 | 249,000 | 239,000 | 240,000 | |||||||||
other expenses | 372,000 | 406,000 | 323,000 | 433,000 | 336,000 | |||||||||
fee waiver | -660,000 | |||||||||||||
foreign currency transactions | 5,000 | -19,000 | -12,000 | -10,000 | -6,000 | |||||||||
non controlled/non-affiliated investments | -73,044,000 | -9,747,000 | -9,554,000 | -1,435,000 | ||||||||||
foreign currency translations | 615,000 | -1,033,000 | 1,561,000 | -507,000 | 802,000 | |||||||||
net increase in net assets resulting from operations | -63,780,000 | 8,903,000 | 8,900,000 | 16,130,000 | 2,215,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2023-06-30 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2017-09-30 | 2017-03-31 | 2016-06-30 | 2016-03-31 | 2015-09-30 | 2015-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||
investments, at fair value | |||||||||||||||||
non-controlled/non-affiliated investments | 3,100,060,000 | 3,161,700,000 | 3,279,219,000 | 3,368,503,000 | 3,507,224,000 | 3,057,767,000 | 3,056,439,000 | 3,097,968,000 | 1,293,684,000 | 1,283,565,000 | 1,269,212,000 | 138,000 | 988,752,000 | 1,048,703,000 | 1,030,049,000 | 1,099,301,000 | 961,321,000 |
non-controlled affiliated investments | 96,873,000 | 102,806,000 | 105,450,000 | 106,755,000 | 42,755,000 | 33,862,000 | 79,542,000 | 84,144,000 | 118,092,000 | 94,492,000 | 86,422,000 | -2,495,000 | 83,067,000 | 3,559,000 | 3,653,000 | 4,171,000 | 4,977,000 |
total investments, at fair value | 3,196,933,000 | 3,264,506,000 | 3,384,669,000 | 3,475,258,000 | 3,549,979,000 | 3,112,124,000 | 3,156,464,000 | 3,202,610,000 | 1,164,044,000 | 1,130,811,000 | 1,100,118,000 | 1,150,345,000 | 1,026,171,000 | ||||
investments in affiliated money market fund | 32,693,000 | 67,000 | 29,000 | 25,238,000 | 97,232,000 | 89,470,000 | 64,306,000 | 3,000 | 2,000 | 15,667,000 | 13,445,000 | 3,500,000 | 21,265,000 | ||||
cash | 115,183,000 | 108,036,000 | 82,759,000 | 61,795,000 | 42,414,000 | 171,600,000 | 119,923,000 | 45,486,000 | 17,578,000 | 16,318,000 | 22,047,000 | 11,967,000 | 8,934,000 | 15,454,000 | 11,797,000 | 11,718,000 | 11,479,000 |
interest and dividends receivable | 25,499,000 | 21,079,000 | 23,588,000 | 28,092,000 | 32,081,000 | 21,583,000 | 21,635,000 | 25,213,000 | 9,603,000 | 8,406,000 | |||||||
deferred financing costs | 14,050,000 | 14,801,000 | 11,091,000 | 11,897,000 | 11,317,000 | 13,331,000 | 9,971,000 | 10,664,000 | 8,144,000 | 8,618,000 | 8,950,000 | 5,107,000 | 5,714,000 | 5,171,000 | 5,473,000 | 4,625,000 | 4,906,000 |
other assets | 643,000 | 1,749,000 | 1,692,000 | 1,103,000 | 1,643,000 | 3,826,000 | 1,975,000 | 2,638,000 | 4,935,000 | 3,139,000 | 2,079,000 | 699,000 | 5,341,000 | 360,000 | 335,000 | 114,000 | 184,000 |
total assets | 3,385,001,000 | 3,410,238,000 | 3,503,828,000 | 3,603,383,000 | 3,637,434,000 | 3,322,960,000 | 3,310,007,000 | 3,287,631,000 | 1,569,452,000 | 1,550,604,000 | 1,533,474,000 | 1,207,686,000 | 1,194,586,000 | 1,162,613,000 | 1,130,625,000 | 1,178,758,000 | 1,052,324,000 |
liabilities | |||||||||||||||||
debt | 1,840,781,000 | 1,797,397,000 | 1,868,054,000 | 1,926,452,000 | 1,955,014,000 | 1,626,298,000 | 1,583,740,000 | 1,591,920,000 | 911,685,000 | 909,263,000 | 908,071,000 | 443,805,000 | 501,617,000 | 468,550,000 | 428,050,000 | 447,000,000 | 301,000,000 |
interest and other debt expenses payable | 8,099,000 | 15,516,000 | 5,446,000 | 21,289,000 | 12,730,000 | 9,820,000 | 15,980,000 | 11,759,000 | 5,964,000 | 7,659,000 | 7,203,000 | 2,842,000 | 2,832,000 | ||||
management fees payable | 8,179,000 | 8,408,000 | 8,681,000 | 8,780,000 | 8,970,000 | 7,962,000 | 8,079,000 | 7,700,000 | 2,621,000 | 1,467,000 | 3,006,000 | 4,369,000 | 4,461,000 | 4,188,000 | 4,126,000 | 4,089,000 | 3,638,000 |
incentive fees payable | 7,051,000 | 8,526,000 | 6,804,000 | 6,330,000 | 7,837,000 | 7,885,000 | 974,000 | 4,624,000 | 3,733,000 | 2,085,000 | 1,404,000 | 3,515,000 | 4,403,000 | ||||
distribution payable | 54,774,000 | 55,859,000 | 56,303,000 | 52,784,000 | 49,259,000 | 45,789,000 | 45,754,000 | 45,720,000 | 18,202,000 | 18,181,000 | 18,181,000 | 18,049,000 | 16,354,000 | 16,341,000 | 16,338,000 | 16,338,000 | 16,330,000 |
unrealized depreciation on derivatives | 477,000 | ||||||||||||||||
secured borrowings | 3,209,000 | 3,060,000 | 2,989,000 | 2,920,000 | |||||||||||||
accrued expenses and other liabilities | 7,602,000 | 7,775,000 | 7,474,000 | 12,090,000 | 5,833,000 | 4,498,000 | 4,527,000 | 4,249,000 | 4,099,000 | 2,403,000 | 2,015,000 | 2,136,000 | 1,702,000 | 2,389,000 | 2,615,000 | 3,125,000 | 3,376,000 |
total liabilities | 1,930,172,000 | 1,896,849,000 | 1,955,878,000 | 2,030,683,000 | 2,040,584,000 | 1,702,871,000 | 1,678,482,000 | 1,661,686,000 | 943,029,000 | 939,108,000 | 938,615,000 | 476,527,000 | 530,986,000 | 494,131,000 | 452,912,000 | 475,219,000 | 346,058,000 |
commitments and contingencies | |||||||||||||||||
net assets | |||||||||||||||||
preferred stock, par value 0.001 per share... | |||||||||||||||||
common stock, par value 0.001 per share... | 114,000 | 116,000 | 117,000 | 117,000 | 109,000 | 102,000 | 102,000 | 102,000 | 40,000 | 40,000 | 40,000 | 40,000 | 36,000 | 36,000 | 36,000 | 36,000 | 36,000 |
paid-in capital in excess of par | 1,909,063,000 | 1,934,128,000 | 1,946,253,000 | 1,946,253,000 | 1,809,154,000 | 1,625,801,000 | 1,624,394,000 | 1,622,948,000 | 779,516,000 | 778,827,000 | 778,827,000 | 801,048,000 | 720,099,000 | 719,800,000 | 719,690,000 | 719,974,000 | 719,852,000 |
distributable earnings | -454,348,000 | -420,855,000 | -398,420,000 | -373,670,000 | -210,992,000 | -4,393,000 | 8,450,000 | 4,316,000 | -151,712,000 | -165,950,000 | -182,587,000 | ||||||
total net assets | 1,454,829,000 | 1,513,389,000 | 1,547,950,000 | 1,572,700,000 | 1,596,850,000 | 1,620,089,000 | 1,631,525,000 | 1,625,945,000 | 626,423,000 | 611,496,000 | 594,859,000 | 731,159,000 | 663,600,000 | 668,482,000 | 677,713,000 | 703,539,000 | 706,266,000 |
total liabilities and net assets | 3,385,001,000 | 3,410,238,000 | 3,503,828,000 | 3,603,383,000 | 3,637,434,000 | 3,322,960,000 | 3,310,007,000 | 3,287,631,000 | 1,569,452,000 | 1,550,604,000 | 1,533,474,000 | 1,207,686,000 | 1,194,586,000 | 1,162,613,000 | 1,130,625,000 | 1,178,758,000 | 1,052,324,000 |
net asset value per share | 12,750 | 13,020 | 13,200 | 13,410 | 14,590 | 15,920 | 16,050 | 16,000 | 15,490 | 15,140 | 14,720 | 18,230 | 18,260 | 18,410 | 18,670 | 19,380 | 19,460 |
investment income: | |||||||||||||||||
from non-controlled/non-affiliated investments: | |||||||||||||||||
interest income | 81,197,000 | 374,200,000 | 101,952,000 | 90,043,000 | 78,362,000 | 78,165,000 | 27,907,000 | 28,509,000 | 29,515,000 | 28,204,000 | 26,966,000 | 26,489,000 | 29,131,000 | 30,278,000 | |||
payment-in-kind income | 6,854,000 | 50,094,000 | 8,735,000 | ||||||||||||||
other income | 1,247,000 | 3,733,000 | 664,000 | 1,101,000 | 621,000 | 995,000 | 1,152,000 | 245,000 | 247,000 | 1,255,000 | 535,000 | 204,000 | 193,000 | 635,000 | |||
dividend income | 2,000 | 138,000 | 90,000 | 61,000 | 765,000 | 32,000 | 38,000 | 5,000 | 7,000 | 23,000 | 630,000 | 627,000 | 620,000 | ||||
from non-controlled affiliated investments: | |||||||||||||||||
total investment income | 91,596,000 | 434,374,000 | 112,083,000 | 96,684,000 | 83,917,000 | 82,618,000 | 31,453,000 | 30,602,000 | 31,972,000 | 34,412,000 | 32,192,000 | 29,321,000 | 31,344,000 | 32,896,000 | 27,316,000 | ||
expenses: | |||||||||||||||||
interest and other debt expenses | 28,079,000 | 113,718,000 | 27,775,000 | 14,449,000 | 14,538,000 | 14,966,000 | 8,889,000 | 9,114,000 | 8,894,000 | 4,884,000 | 4,512,000 | ||||||
management fees | 8,179,000 | 35,232,000 | 8,970,000 | 7,962,000 | 8,079,000 | 8,200,000 | 3,618,000 | 3,617,000 | 3,666,000 | 4,369,000 | 4,461,000 | 4,188,000 | 4,126,000 | 4,089,000 | 3,638,000 | ||
incentive fees | 7,051,000 | 17,212,000 | 7,837,000 | 9,326,000 | 11,170,000 | 12,055,000 | 737,000 | 4,624,000 | 3,733,000 | 2,085,000 | 1,404,000 | 3,515,000 | 4,403,000 | ||||
professional fees | 698,000 | 4,998,000 | 888,000 | 724,000 | 808,000 | 725,000 | 554,000 | 623,000 | 714,000 | 509,000 | 461,000 | 585,000 | 596,000 | 936,000 | 535,000 | ||
directors’ fees | 206,000 | 828,000 | 208,000 | 234,000 | 232,000 | 232,000 | 139,000 | 139,000 | 139,000 | 177,000 | 173,000 | 256,000 | 224,000 | 172,000 | 158,000 | ||
other general and administrative expenses | 1,166,000 | 4,535,000 | 1,026,000 | 793,000 | 800,000 | 1,098,000 | 677,000 | ||||||||||
total expenses | 45,379,000 | 176,523,000 | 46,704,000 | 33,488,000 | 35,627,000 | 37,276,000 | 14,614,000 | 14,183,000 | 14,026,000 | 15,084,000 | 13,872,000 | 10,902,000 | 9,919,000 | 12,120,000 | 11,442,000 | ||
net investment income before taxes | 46,217,000 | 257,851,000 | 65,379,000 | 64,637,000 | 58,486,000 | 57,897,000 | 18,573,000 | 18,569,000 | 18,606,000 | 19,328,000 | 18,320,000 | 18,419,000 | 21,425,000 | 20,776,000 | 15,874,000 | ||
income tax expense, including excise tax | 907,000 | 5,298,000 | 877,000 | 305,000 | 310,000 | 314,000 | 375,000 | 389,000 | 427,000 | ||||||||
net investment income after taxes | 45,310,000 | 252,553,000 | 64,502,000 | 64,332,000 | 58,176,000 | 57,583,000 | 18,198,000 | 18,180,000 | 18,179,000 | 18,945,000 | 17,955,000 | 18,198,000 | 21,212,000 | 20,602,000 | 15,809,000 | ||
net realized and unrealized gains on investment transactions: | |||||||||||||||||
net realized gain from: | |||||||||||||||||
foreign currency and other transactions | 19,000 | 5,236,000 | -5,000 | 69,000 | |||||||||||||
net change in unrealized appreciation (depreciation) from: | |||||||||||||||||
foreign currency forward contracts | 63,000 | -703,000 | -49,000 | -57,000 | -114,000 | 29,000 | 52,000 | 28,000 | |||||||||
foreign currency translations and other transactions | 1,221,000 | 299,000 | -1,975,000 | 1,392,000 | |||||||||||||
net realized and unrealized gains | -20,556,000 | -189,502,000 | 1,332,000 | -26,216,000 | -3,095,000 | 2,999,000 | 14,249,000 | 16,638,000 | -82,058,000 | -833,000 | -3,390,000 | -11,198,000 | -15,811,000 | -7,119,000 | 2,116,000 | ||
benefit for taxes on realized gain/loss on investments | -49,000 | -492,000 | -53,000 | ||||||||||||||
benefit for taxes on unrealized appreciation/depreciation on investments | 308,000 | -170,000 | -83,000 | -56,000 | -114,000 | -7,000 | 99,000 | ||||||||||
net increase in net assets from operations | 24,705,000 | 62,867,000 | 65,664,000 | 38,033,000 | 54,972,000 | 60,468,000 | 32,440,000 | ||||||||||
weighted-average shares outstanding | 114,398,468,000 | 114,673,460,000 | 109,463,144,000 | 101,727,464,000 | 101,649,214,000 | 101,584,473,000 | 40,440,982,000 | 40,401,637,000 | 40,396,319,000 | 40,106,702,000 | 36,340,808,000 | 36,311,582,000 | 36,306,881,000 | 36,292,619,000 | |||
basic and diluted net investment income per share | 400 | 2,200 | |||||||||||||||
basic and diluted earnings per share | 220 | 550 | |||||||||||||||
unrealized depreciation on foreign currency forward contracts | 308,000 | 127,000 | 38,000 | 613,000 | 81,000 | 108,000 | 99,000 | ||||||||||
from controlled affiliated investments: | |||||||||||||||||
fee waivers | -1,441,000 | -10,196,000 | -12,555,000 | -1,734,000 | |||||||||||||
net expenses | 176,523,000 | 46,704,000 | 32,047,000 | 25,431,000 | 24,721,000 | 12,880,000 | 12,033,000 | 13,366,000 | |||||||||
controlled affiliated investments | 20,495,000 | 20,483,000 | 20,498,000 | 19,419,000 | 46,410,000 | 67,113,000 | 291,000 | 92,223,000 | 62,882,000 | 52,971,000 | 43,373,000 | 38,608,000 | |||||
accrued offering costs | 328,000 | 223,000 | 527,000 | 26,000 | 631,000 | 1,918,000 | |||||||||||
allocated income tax expense | -1,421,000 | -1,421,000 | -1,421,000 | -1,421,000 | -1,421,000 | -1,421,000 | -1,421,000 | -1,421,000 | -1,421,000 | -1,421,000 | -1,421,000 | -1,421,000 | -1,421,000 | ||||
net investment income per share | 590 | 630 | 570 | 570 | 450 | 450 | 450 | 470 | 490 | 500 | 580 | 570 | 440 | ||||
earnings per share | 600 | 370 | 540 | 600 | 800 | 860 | -1,580 | 450 | 400 | 190 | 150 | 370 | 500 | ||||
receivable for investments sold | 455,000 | 39,000 | 1,020,000 | 414,000 | 153,000 | 6,648,000 | 175,000 | 1,090,000 | |||||||||
unrealized appreciation on foreign currency forward contracts | 41,000 | 33,000 | 114,000 | ||||||||||||||
payable for investments purchased | 388,000 | 19,115,000 | 81,000 | 15,000,000 | |||||||||||||
directors’ fees payable | 231,000 | 232,000 | 230,000 | 136,000 | 135,000 | 139,000 | 175,000 | 180,000 | 207,000 | 76,000 | 17,000 | ||||||
payment-in-kind | 4,768,000 | 4,275,000 | 2,136,000 | 1,057,000 | 535,000 | 614,000 | 1,885,000 | ||||||||||
foreign currency transactions | -24,000 | 68,000 | 34,000 | -23,000 | 5,000 | ||||||||||||
foreign currency translations | -1,030,000 | 3,872,000 | -1,639,000 | -670,000 | 615,000 | ||||||||||||
deferred offering costs | 351,000 | 160,000 | 738,000 | ||||||||||||||
total investment income from non-controlled/non-affiliated investments | 29,289,000 | 30,376,000 | 29,459,000 | 27,501,000 | 27,323,000 | 29,951,000 | 31,533,000 | ||||||||||
total investment income from non-controlled affiliated investments | 887,000 | 865,000 | 2,253,000 | 2,241,000 | 11,000 | 11,000 | |||||||||||
total investment income from controlled affiliated investments | 426,000 | 731,000 | 2,700,000 | 2,450,000 | 1,987,000 | 1,382,000 | 1,363,000 | ||||||||||
administration, custodian and transfer agent fees | 228,000 | 241,000 | 219,000 | 194,000 | 215,000 | ||||||||||||
other incomes | 462,000 | 372,000 | 302,000 | 338,000 | 327,000 | 308,000 | 144,000 | 377,000 | |||||||||
fee waiver | -2,150,000 | -660,000 | |||||||||||||||
net increase in net assets resulting from operations | 34,818,000 | -63,780,000 | 18,112,000 | 14,565,000 | 7,000,000 | 5,401,000 | 13,483,000 | 17,925,000 | |||||||||
interest and dividends receivable from non-controlled/affiliated investments and non-controlled/non-affiliated investments | 6,583,000 | 7,617,000 | 7,365,000 | ||||||||||||||
non controlled/non-affiliated investments | -73,044,000 | -341,000 | |||||||||||||||
non-controlled/non-affiliated investments, at fair value | 989,904,000 | ||||||||||||||||
non-controlled affiliated investments, at fair value | 93,669,000 | ||||||||||||||||
controlled affiliated investments, at fair value | 95,114,000 | ||||||||||||||||
dividend receivable from controlled affiliated investments | 2,350,000 | 2,450,000 | 1,550,000 | 1,275,000 | 1,363,000 | 729,000 | |||||||||||
other income receivable from controlled affiliated investments | 1,096,000 | 544,000 | 107,000 | 446,000 | 446,000 | ||||||||||||
accumulated net realized gain | -64,362,000 | -23,897,000 | -2,367,000 | -2,367,000 | -2,558,000 | -2,212,000 | |||||||||||
accumulated undistributed net investment income | 34,172,000 | 27,225,000 | 21,082,000 | 19,225,000 | 7,880,000 | 3,362,000 | |||||||||||
net unrealized appreciation (depreciation) on investments | -38,318,000 | -58,442,000 | -68,648,000 | -57,450,000 | -20,372,000 | -13,351,000 | |||||||||||
excise tax expense | 383,000 | 365,000 | 221,000 | 213,000 | 174,000 | 65,000 | |||||||||||
non controlled affiliated investments | 1,574,000 | ||||||||||||||||
distributions declared per share | 450 | 450 | |||||||||||||||
distribution declared per share | 450 | 450 | 450 | ||||||||||||||
interest and dividends receivable from non-controlled/non-affiliated investments | 8,548,000 | 10,430,000 | 10,147,000 | 8,409,000 | |||||||||||||
interest and credit facility expense payable | 371,000 | 379,000 | 445,000 | 376,000 | |||||||||||||
interest and credit facility expense | 3,246,000 | 3,035,000 | 3,053,000 | 2,117,000 | |||||||||||||
administration and custodian fees | 226,000 | 211,000 | 214,000 | ||||||||||||||
common stock repurchased | |||||||||||||||||
interest from non-controlled/non-affiliated investments | 25,123,000 | ||||||||||||||||
dividend income from non-controlled/non-affiliated investments | 617,000 | ||||||||||||||||
dividend income from non-controlled affiliated investment | 1,000 | ||||||||||||||||
dividend income from controlled affiliated investments | 729,000 | ||||||||||||||||
other income from non-controlled/non-affiliated investments | 400,000 | ||||||||||||||||
other income from controlled affiliated investments | 446,000 | ||||||||||||||||
weighted-average shares outstanding: | 36,137,532,000 | ||||||||||||||||
distribution declared per share: | 450 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-06-30 | 2019-03-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | ||||||||||||||||||||||
net increase in net assets from operations: | 24,705,000 | 39,289,000 | 31,553,000 | 38,033,000 | 54,972,000 | 60,468,000 | 172,635,000 | |||||||||||||||
adjustments to reconcile net increase in net assets from operations to net cash from operating activities: | ||||||||||||||||||||||
purchases of investments | -326,023,000 | -173,806,000 | -112,387,000 | -622,117,000 | -213,326,000 | -204,518,000 | -317,743,000 | -18,739,000 | -7,411,000 | -99,268,000 | -291,420,000 | -126,114,000 | -189,133,000 | -57,935,000 | -72,778,000 | -258,419,000 | -128,731,000 | -107,459,000 | -126,039,000 | -43,466,000 | -50,396,000 | -204,991,000 |
payment-in-kind interest capitalized | -7,954,000 | -7,114,000 | -10,829,000 | -5,459,000 | -4,938,000 | -2,471,000 | -2,293,000 | -1,497,000 | -1,926,000 | -903,000 | -1,289,000 | -937,000 | -2,424,000 | |||||||||
investments in affiliated money market fund | -32,626,000 | -38,000 | 25,209,000 | -7,762,000 | -25,164,000 | -64,306,000 | -2,000 | 0 | 11,537,000 | 2,120,000 | -2,121,000 | -1,000 | 15,664,000 | -2,222,000 | -3,328,000 | 17,765,000 | ||||||
proceeds from sales of investments and principal repayments | 385,941,000 | 305,393,000 | 201,914,000 | 678,156,000 | 282,016,000 | 263,365,000 | 255,279,000 | 30,830,000 | 26,306,000 | 50,323,000 | 155,131,000 | 79,048,000 | 111,115,000 | 78,795,000 | 78,714,000 | 194,320,000 | 167,825,000 | 110,298,000 | 103,964,000 | 4,941,000 | 30,588,000 | 57,892,000 |
net realized (gain) loss on investments | -5,418,000 | 81,219,000 | 44,472,000 | 1,274,000 | -7,508,000 | -3,763,000 | 35,983,000 | 1,394,000 | 10,140,000 | 9,243,000 | 24,722,000 | 1,000 | -100,000 | -1,676,000 | 2,357,000 | 38,108,000 | 168,000 | |||||
net change in unrealized (appreciation) depreciation on investments | 27,277,000 | -79,419,000 | -27,490,000 | 62,060,000 | 737,000 | 8,582,000 | -117,738,000 | -51,940,000 | -18,753,000 | 72,650,000 | -6,845,000 | -3,556,000 | 2,391,000 | 2,797,000 | 1,513,000 | -1,524,000 | -18,600,000 | 3,222,000 | -25,979,000 | 11,198,000 | 15,811,000 | 7,021,000 |
net change in unrealized (appreciation) depreciation on foreign currency forward contracts and transactions | -38,000 | 151,000 | -52,000 | -2,000 | -65,000 | -118,000 | 221,000 | 119,000 | 55,000 | -62,000 | 36,000 | -71,000 | ||||||||||
net change in unrealized (appreciation) depreciation on interest rate swaps accounted for as hedge instruments and the related hedged items | ||||||||||||||||||||||
amortization of premium and accretion of discount | -6,100,000 | -6,041,000 | -5,021,000 | -33,288,000 | -19,617,000 | -17,294,000 | -18,021,000 | -1,366,000 | -1,330,000 | -1,437,000 | -3,213,000 | -2,816,000 | -2,921,000 | -1,743,000 | -2,027,000 | -1,798,000 | -4,600,000 | -1,387,000 | -1,604,000 | -1,039,000 | -1,508,000 | -1,856,000 |
amortization of deferred financing and debt issuance costs | 2,059,000 | 1,977,000 | 2,111,000 | 1,849,000 | 1,830,000 | 1,809,000 | 1,533,000 | 1,134,000 | 1,132,000 | 891,000 | 662,000 | 638,000 | 635,000 | 518,000 | 500,000 | 500,000 | 495,000 | 489,000 | ||||
change in operating assets and liabilities: | ||||||||||||||||||||||
increase in interest and dividends receivable | -4,420,000 | 2,509,000 | 4,504,000 | 52,000 | 3,578,000 | -3,620,000 | 1,951,000 | -1,197,000 | -1,823,000 | -881,000 | 3,637,000 | -1,759,000 | -3,667,000 | 1,669,000 | -1,115,000 | -748,000 | 596,000 | -49,000 | -1,135,000 | 1,607,000 | 44,000 | -2,372,000 |
increase in other assets | -1,324,000 | -57,000 | -589,000 | -1,851,000 | 663,000 | -722,000 | 2,551,000 | -1,796,000 | -1,060,000 | -995,000 | -1,515,000 | 25,000 | -99,000 | 65,000 | -192,000 | -521,000 | 5,163,000 | -5,265,000 | 172,000 | -25,000 | 15,000 | 70,000 |
increase in interest and other debt expenses payable | -8,398,000 | 10,070,000 | -15,514,000 | -6,160,000 | 4,235,000 | 2,067,000 | 2,766,000 | -1,656,000 | 1,631,000 | 3,685,000 | -1,326,000 | 1,574,000 | 2,375,000 | -1,127,000 | 1,243,000 | 776,000 | -778,000 | 1,284,000 | ||||
increase in management fees payable | -229,000 | -273,000 | -99,000 | -117,000 | 379,000 | 1,755,000 | -835,000 | 1,154,000 | -1,539,000 | -647,000 | 206,000 | 102,000 | -1,224,000 | -324,000 | 156,000 | 18,000 | -110,000 | 55,000 | 104,000 | 62,000 | -112,000 | 451,000 |
increase in incentive fees payable | -1,475,000 | 1,722,000 | 474,000 | 6,911,000 | 974,000 | -2,665,000 | -4,007,000 | 0 | 0 | -1,850,000 | 3,651,000 | 493,000 | 620,000 | -342,000 | 1,504,000 | 3,386,000 | -2,495,000 | 2,259,000 | 3,598,000 | 681,000 | 1,044,000 | -888,000 |
increase in accrued expenses and other liabilities | 1,225,000 | -1,124,000 | -4,386,000 | -29,000 | 278,000 | -1,094,000 | -6,104,000 | 1,696,000 | 388,000 | -1,408,000 | -434,000 | -1,085,000 | 1,416,000 | 880,000 | -231,000 | 259,000 | 175,000 | -1,218,000 | 105,000 | -222,000 | -1,090,000 | -253,000 |
net cash from operating activities | 47,232,000 | 174,458,000 | 133,870,000 | 64,001,000 | 133,204,000 | 99,961,000 | 239,363,000 | 17,255,000 | 13,319,000 | -104,154,000 | -116,502,000 | -27,269,000 | -56,594,000 | 42,078,000 | 31,015,000 | -43,259,000 | 56,906,000 | 17,862,000 | 12,714,000 | -20,611,000 | -3,571,000 | -128,202,000 |
capital expenditures | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
free cash flows | 47,232,000 | 174,458,000 | 133,870,000 | 64,001,000 | 133,204,000 | 99,961,000 | 239,363,000 | 17,255,000 | 13,319,000 | -104,154,000 | -116,502,000 | -27,269,000 | -56,594,000 | 42,078,000 | 31,015,000 | -43,259,000 | 56,906,000 | 17,862,000 | 12,714,000 | -20,611,000 | -3,571,000 | -128,202,000 |
cash flows from financing activities: | ||||||||||||||||||||||
proceeds from issuance of common stock | 0 | 0 | ||||||||||||||||||||
offering costs paid | 0 | 0 | -229,000 | 404,000 | -118,000 | -83,000 | -123,000 | -81,000 | -625,000 | 0 | -4,000 | -36,000 | -1,286,000 | |||||||||
repurchases of common stock | -26,466,000 | |||||||||||||||||||||
distributions paid | -59,283,000 | -62,168,000 | -52,784,000 | -49,434,000 | -49,358,000 | -49,634,000 | -92,460,000 | -17,492,000 | -18,181,000 | -17,470,000 | -17,433,000 | -17,343,000 | -17,657,000 | -17,683,000 | -17,559,000 | -17,643,000 | -16,088,000 | -16,097,000 | -16,171,000 | -16,228,000 | -16,338,000 | -16,201,000 |
deferred financing and debt issuance costs paid | -4,220,000 | -4,525,000 | -329,000 | -4,061,000 | -15,000 | -469,000 | -13,044,000 | -41,000 | -1,588,000 | -10,108,000 | 0 | -494,000 | -1,647,000 | 0 | -1,800,000 | -1,000 | 1,000 | -21,000 | ||||
borrowings on debt | 668,909,000 | 228,182,000 | 469,295,000 | 311,984,000 | 180,068,000 | 130,620,000 | 734,037,000 | 1,652,000 | 695,000 | 553,066,000 | 228,017,000 | 130,891,000 | 226,436,000 | 62,500,000 | 58,500,000 | 228,600,000 | 78,500,000 | 98,250,000 | 85,000,000 | 47,500,000 | 63,000,000 | 183,000,000 |
repayments of debt | -619,000,000 | -300,000,000 | -529,000,000 | -270,693,000 | -189,500,000 | -167,000,000 | -853,500,000 | 0 | 0 | -408,676,000 | -90,000,000 | -86,000,000 | -155,500,000 | -84,500,000 | -74,750,000 | -193,100,000 | -172,250,000 | -95,000,000 | -82,300,000 | -7,000,000 | -53,950,000 | -37,000,000 |
secured borrowings | ||||||||||||||||||||||
net cash from financing activities | -40,060,000 | -149,211,000 | -113,047,000 | -12,204,000 | -58,805,000 | -86,483,000 | -224,840,000 | -16,008,000 | -19,074,000 | 116,812,000 | 120,724,000 | 27,054,000 | 52,036,000 | -39,801,000 | -35,692,000 | 17,733,000 | -28,347,000 | -13,493,000 | -13,498,000 | 24,268,000 | -7,342,000 | 128,441,000 |
net increase in cash | 7,172,000 | 25,247,000 | 20,823,000 | 51,797,000 | 74,399,000 | 13,478,000 | 14,523,000 | 1,247,000 | -5,755,000 | 12,658,000 | 4,222,000 | -215,000 | -4,558,000 | 2,277,000 | -4,677,000 | -25,526,000 | 28,559,000 | 4,369,000 | -784,000 | 3,657,000 | -10,913,000 | 239,000 |
effect of foreign exchange rate changes on cash | -25,000 | |||||||||||||||||||||
cash, beginning of period | 0 | 0 | 61,795,000 | 0 | 0 | 32,137,000 | 0 | 0 | 0 | 9,409,000 | 0 | 6,113,000 | 0 | 0 | 11,606,000 | 0 | 0 | 4,565,000 | 0 | 0 | 22,710,000 | 0 |
cash, end of period | 7,147,000 | 25,277,000 | 82,759,000 | 51,677,000 | 74,437,000 | 45,486,000 | 14,559,000 | 1,260,000 | -5,729,000 | 22,047,000 | 4,231,000 | 5,891,000 | -4,558,000 | 2,277,000 | 6,929,000 | -25,526,000 | 28,559,000 | 8,934,000 | -784,000 | 3,657,000 | 11,797,000 | 239,000 |
supplemental and non-cash activities | ||||||||||||||||||||||
interest expense paid | 33,551,000 | 13,626,000 | 40,698,000 | 18,592,000 | 6,335,000 | 10,205,000 | 8,217,000 | 8,876,000 | 5,905,000 | 4,209,000 | 10,059,000 | 5,765,000 | 3,002,000 | 6,751,000 | 3,714,000 | 3,267,000 | 4,864,000 | 2,470,000 | 3,328,000 | 2,846,000 | 2,629,000 | 2,437,000 |
accrued but unpaid excise tax expense | 906,000 | 907,000 | 1,580,000 | 308,000 | 308,000 | 410,000 | 239,000 | 389,000 | 388,000 | 622,000 | 445,000 | 625,000 | 381,000 | 305,000 | 529,000 | 383,000 | 368,000 | 328,000 | 294,000 | 221,000 | 207,000 | 174,000 |
accrued but unpaid distributions | -1,085,000 | -444,000 | 56,303,000 | 35,000 | 34,000 | 45,720,000 | 27,488,000 | 21,000 | 0 | 18,181,000 | 16,000 | 18,120,000 | 9,000 | 9,000 | 18,070,000 | 8,000 | 1,687,000 | 16,354,000 | 4,000 | 3,000 | 16,338,000 | 8,000 |
reinvestment of stockholder distributions | 1,407,000 | 1,446,000 | 1,135,000 | 742,000 | 689,000 | 0 | 695,000 | 687,000 | 759,000 | 423,000 | 386,000 | 500,000 | 399,000 | 266,000 | 252,000 | 169,000 | ||||||
exchange of investments | 1,190,000 | 26,959,000 | 70,695,000 | 5,970,000 | 33,524,000 | 35,230,000 | 18,141,000 | |||||||||||||||
investment | ||||||||||||||||||||||
debt investments - 216.4% | ||||||||||||||||||||||
canada - 7.3% | ||||||||||||||||||||||
1st lien/senior secured debt - 7.3% | ||||||||||||||||||||||
rocket bidco, inc. | -980 | |||||||||||||||||||||
prophix software inc. | -170 | 10 | 10,820 | |||||||||||||||||||
aryeh bidco investment ltd. | ||||||||||||||||||||||
jupiter refuel canada buyer inc. | -230 | |||||||||||||||||||||
everest clinical research corporation | -550 | 0 | 9,950 | |||||||||||||||||||
rodeo buyer company | -190 | 0 | 10,700 | |||||||||||||||||||
iwave information systems, inc. | -170 | -490 | 11,080 | |||||||||||||||||||
total 1st lien/senior secured debt | ||||||||||||||||||||||
total canada | ||||||||||||||||||||||
india - 1.2% | ||||||||||||||||||||||
1st lien/senior secured debt - 1.2% | ||||||||||||||||||||||
ags health bcp llc | ||||||||||||||||||||||
total india | ||||||||||||||||||||||
united kingdom - 2.3% | ||||||||||||||||||||||
1st lien/senior secured debt - 2.3% | ||||||||||||||||||||||
clearcourse partnership acquireco finance limited | -30 | -1,200 | 13,450 | |||||||||||||||||||
si swan uk bidco limited | ||||||||||||||||||||||
debt investments - 210.7% | ||||||||||||||||||||||
canada - 6.9% | ||||||||||||||||||||||
1st lien/senior secured debt - 6.9% | ||||||||||||||||||||||
united kingdom - 2.2% | ||||||||||||||||||||||
1st lien/senior secured debt - 2.2% | ||||||||||||||||||||||
total united kingdom | ||||||||||||||||||||||
united states - 201.6% | ||||||||||||||||||||||
1st lien/senior secured debt - 185.4% | ||||||||||||||||||||||
frontgrade technologies holdings inc. | ||||||||||||||||||||||
visionsafe holdings, inc. | ||||||||||||||||||||||
effect of foreign exchange rate changes on cash and cash equivalents | 141,000 | -120,000 | 38,000 | -129,000 | 36,000 | 13,000 | 26,000 | -20,000 | 9,000 | -7,000 | ||||||||||||
debt investments - 214.2% | ||||||||||||||||||||||
canada - 4.5% | ||||||||||||||||||||||
1st lien/senior secured debt - 4.5% | ||||||||||||||||||||||
recochem, inc | 10,040 | |||||||||||||||||||||
1272775 b.c. ltd. | 9,950 | 0 | 0 | 6,500 | ||||||||||||||||||
germany - 0.0% | ||||||||||||||||||||||
1st lien/senior secured debt - 0.0% | ||||||||||||||||||||||
kawa solar holdings limited | ||||||||||||||||||||||
total germany | ||||||||||||||||||||||
singapore - 0.0% | ||||||||||||||||||||||
unsecured debt - 0.0% | ||||||||||||||||||||||
conergy asia & me pte. ltd. | ||||||||||||||||||||||
total unsecured debt | ||||||||||||||||||||||
total singapore | ||||||||||||||||||||||
united kingdom - 2.0% | ||||||||||||||||||||||
1st lien/senior secured debt - 2.0% | ||||||||||||||||||||||
amortization of original issue discount on convertible notes | 119,000 | 116,000 | 115,000 | 114,000 | 112,000 | 110,000 | 110,000 | 105,000 | 104,000 | 100,000 | 32,000 | 32,000 | 31,000 | 31,000 | 30,000 | |||||||
debt investments - 216.8% | ||||||||||||||||||||||
united kingdom - 1.9% | ||||||||||||||||||||||
1st lien/senior secured debt - 1.9% | ||||||||||||||||||||||
net realized (gain) loss | ||||||||||||||||||||||
increase in receivable for investments sold | -416,000 | 981,000 | 1,580,000 | -1,843,000 | -261,000 | 6,495,000 | -6,555,000 | -9,046,000 | 35,000 | -4,000,000 | 175,000 | 915,000 | -777,000 | |||||||||
1st lien/senior secured debt - 198.48% | ||||||||||||||||||||||
3si security systems, inc. | 0 | 0 | 6,750 | 0 | 0 | 6,750 | ||||||||||||||||
a place for mom, inc. | 0 | 0 | 4,750 | 0 | 0 | 4,750 | ||||||||||||||||
abacus data holdings, inc. | 0 | 0 | 7,250 | |||||||||||||||||||
acquia, inc. | 0 | 0 | 8,000 | 0 | -580 | 8,580 | ||||||||||||||||
admiral buyer, inc. | ||||||||||||||||||||||
ansira partners, inc. | 0 | 0 | 7,500 | 0 | 140 | 7,360 | ||||||||||||||||
apptio, inc. | 0 | 0 | 8,250 | 0 | 0 | 8,250 | ||||||||||||||||
aq helios buyer, inc. | ||||||||||||||||||||||
argos health holdings, inc | ||||||||||||||||||||||
aria systems, inc. | ||||||||||||||||||||||
arrow buyer, inc. | ||||||||||||||||||||||
assembly intermediate llc | ||||||||||||||||||||||
atx networks corp. | -2,250 | 2,000 | 8,750 | 750 | -450 | 8,450 | ||||||||||||||||
badger sportswear, inc. | -500 | 0 | 6,250 | 0 | 0 | 6,250 | ||||||||||||||||
bayside opco, llc | ||||||||||||||||||||||
bigchange group limited | ||||||||||||||||||||||
broadway technology, llc | 0 | 0 | 7,500 | |||||||||||||||||||
bsi3 menu buyer, inc | ||||||||||||||||||||||
bullhorn, inc. | 0 | 0 | 6,750 | 180 | 0 | 6,570 | ||||||||||||||||
businessolver.com, inc. | 0 | 0 | 8,500 | 0 | -690 | 9,190 | ||||||||||||||||
increase in investments purchased payable | -18,727,000 | 89,000 | ||||||||||||||||||||
increase in directors’ fees payable | -1,000 | 2,000 | 230,000 | -148,000 | 1,000 | -4,000 | 139,000 | -3,000 | 113,000 | -2,000 | 100,000 | -1,000 | -4,000 | 172,000 | 19,000 | 59,000 | ||||||
investment *# | ||||||||||||||||||||||
1st lien/senior secured debt - 161.90% | ||||||||||||||||||||||
brillio, llc | 250 | -250 | 5,750 | 0 | 0 | 5,750 | ||||||||||||||||
capitol imaging acquisition corp. | 0 | 0 | 7,500 | |||||||||||||||||||
cfs management, llc | 250 | -250 | 6,500 | -590 | 0 | 7,340 | ||||||||||||||||
chronicle bidco inc. | 0 | 0 | 7,000 | 0 | -700 | 7,450 | ||||||||||||||||
civicplus llc | ||||||||||||||||||||||
1st lien/senior secured debt - 154.98% | ||||||||||||||||||||||
associations, inc. | 0 | 8,000 | -460 | -450 | 8,910 | |||||||||||||||||
blacksmith applications, inc. | 0 | 7,500 | ||||||||||||||||||||
connectwise, llc | 0 | 6,250 | -70 | 0 | 7,070 | |||||||||||||||||
convene 237 park avenue, llc | -90 | 0 | 9,090 | |||||||||||||||||||
1st lien/senior secured debt - 153.73% | ||||||||||||||||||||||
barbri, inc. | 5,000 | 0 | -440 | 5,770 | ||||||||||||||||||
bjh holdings iii corp. | 6,250 | -250 | -450 | 7,200 | ||||||||||||||||||
dissolution of senior credit fund, llc | ||||||||||||||||||||||
cash acquired in merger | ||||||||||||||||||||||
increase in other income receivable | 0 | 0 | 1,308,000 | -350,000 | -746,000 | 2,212,000 | -1,074,000 | -437,000 | 574,000 | 0 | ||||||||||||
non-cash purchases of investments | -1,607,303,000 | -28,920,000 | -640,000 | |||||||||||||||||||
non-cash sales of investments | 0 | 28,920,000 | 640,000 | |||||||||||||||||||
issuance of shares in connection with the merger | ||||||||||||||||||||||
investment * | ||||||||||||||||||||||
1st lien/senior secured debt # - 172.49% | ||||||||||||||||||||||
accuity delivery systems, llc^ | -320 | 320 | 8,000 | |||||||||||||||||||
collaborative imaging, llc (dba texas radiology associates)^^^ | 0 | -620 | 8,120 | |||||||||||||||||||
corepower yoga llc | 1,390 | 140 | 5,470 | |||||||||||||||||||
cst buyer company | -70 | -500 | 6,820 | |||||||||||||||||||
net increase in net assets resulting from operations: | 34,818,000 | -63,780,000 | 16,130,000 | 2,215,000 | 19,019,000 | 17,467,000 | 18,451,000 | 18,112,000 | 4,585,000 | 14,565,000 | 22,663,000 | 7,000,000 | 5,401,000 | |||||||||
adjustments to reconcile net increase in net assets resulting from operations to net cash from operating activities: | ||||||||||||||||||||||
accrued but unpaid deferred financing and debt issuance costs | -1,175,000 | 1,214,000 | 377,000 | 0 | 12,000 | 40,000 | ||||||||||||||||
accrued but unpaid offering costs | 200,000 | 2,000 | 48,000 | 108,000 | 206,000 | 37,000 | 464,000 | 26,000 | -1,287,000 | |||||||||||||
1st lien/senior secured debt * # - 176.73% | ||||||||||||||||||||||
animal supply holdings, llc^^ | -280 | 11,780 | ||||||||||||||||||||
axiom software | ||||||||||||||||||||||
1st lien/senior secured debt * # - 180.63% | ||||||||||||||||||||||
increase in operating assets and liabilities: | ||||||||||||||||||||||
supplemental and non-cash financing activities | ||||||||||||||||||||||
portfolio company | ||||||||||||||||||||||
investments at fair value – 221.18% # | ||||||||||||||||||||||
corporate debt – 206.51% | ||||||||||||||||||||||
1st lien/senior secured debt – 150.03% | ||||||||||||||||||||||
artesyn embedded technologies, inc. | ||||||||||||||||||||||
collaborative imaging, llc^^^ | ||||||||||||||||||||||
continuum managed services llc | ||||||||||||||||||||||
corepower yoga, llc | ||||||||||||||||||||||
dbrs limited | ||||||||||||||||||||||
dds usa holding, inc. | ||||||||||||||||||||||
diligent corporation | ||||||||||||||||||||||
discoverorg, llc | ||||||||||||||||||||||
docutap, inc. | ||||||||||||||||||||||
investments at fair value - 202.25% # | ||||||||||||||||||||||
corporate debt - 174.65% | ||||||||||||||||||||||
1st lien/senior secured debt - 117.24% | ||||||||||||||||||||||
avenue stores, llc | ||||||||||||||||||||||
dade paper & bag, llc | ||||||||||||||||||||||
datto, inc. | ||||||||||||||||||||||
elemica, inc. | ||||||||||||||||||||||
empirix, inc. | ||||||||||||||||||||||
fenergo finance 3 limited | ||||||||||||||||||||||
gastro health holdco, llc | ||||||||||||||||||||||
net change in unrealized (appreciation) depreciation) on foreign currency forward contracts | ||||||||||||||||||||||
-increase in directors’ fees payable | ||||||||||||||||||||||
investments at fair value – 180.93% # | ||||||||||||||||||||||
corporate debt – 162.87% | ||||||||||||||||||||||
1st lien/senior secured debt – 83.69% | ||||||||||||||||||||||
heligear acquisition co. | ||||||||||||||||||||||
hygiena borrower llc | ||||||||||||||||||||||
icims, inc. | ||||||||||||||||||||||
infinity sales group | ||||||||||||||||||||||
integral ad science, inc. | ||||||||||||||||||||||
iracore international holdings, inc.^ | ||||||||||||||||||||||
kawa solar holdings limited^ | ||||||||||||||||||||||
investments at fair value – 170.32% # | ||||||||||||||||||||||
corporate debt – 152.23% | ||||||||||||||||||||||
1st lien/senior secured debt – 61.73% | ||||||||||||||||||||||
legacy buyer corp. | ||||||||||||||||||||||
lithium technologies, inc. | ||||||||||||||||||||||
madison-kipp corporation | ||||||||||||||||||||||
netvoyage corporation | ||||||||||||||||||||||
sf home décor, llc | ||||||||||||||||||||||
spay, inc. | ||||||||||||||||||||||
the merit distribution group, llc | ||||||||||||||||||||||
us med acquisition, inc. | ||||||||||||||||||||||
vexos, inc. | ||||||||||||||||||||||
xactly corporation | ||||||||||||||||||||||
payment-in-kind interest | -2,113,000 | -159,000 | -105,000 | -104,000 | ||||||||||||||||||
investments at fair value – 172.93% # | ||||||||||||||||||||||
corporate debt – 155.20% | ||||||||||||||||||||||
1st lien/senior secured debt – 57.82% | ||||||||||||||||||||||
real industry, inc. | ||||||||||||||||||||||
yasso, inc. | ||||||||||||||||||||||
1st lien/last-out unitranche – 32.72% | ||||||||||||||||||||||
bolttech mannings, inc.^^ | ||||||||||||||||||||||
intelligent document solutions, inc. | ||||||||||||||||||||||
mervin manufacturing, inc. | ||||||||||||||||||||||
nts communications, inc.^ | ||||||||||||||||||||||
payment-in-kind | -1,777,000 | -1,806,000 | -1,594,000 | |||||||||||||||||||
investments at fair value – 161.21% # * | ||||||||||||||||||||||
corporate debt – 143.99% | ||||||||||||||||||||||
1st lien/senior secured debt – 48.65% | ||||||||||||||||||||||
1st lien/last-out unitranche – 37.53% | ||||||||||||||||||||||
bolttech mannings, inc. | ||||||||||||||||||||||
myon, llc | ||||||||||||||||||||||
pro-pet, llc | ||||||||||||||||||||||
smarsh, inc. | ||||||||||||||||||||||
the service companies inc. | ||||||||||||||||||||||
total 1st lien/last-out unitranche | ||||||||||||||||||||||
2nd lien/senior secured debt – 57.36% | ||||||||||||||||||||||
american dental partners, inc. | ||||||||||||||||||||||
asc acquisition holdings, llc | ||||||||||||||||||||||
country fresh holdings, llc | ||||||||||||||||||||||
investments at fair value – 152.16% # | ||||||||||||||||||||||
corporate debt – 135.59% | ||||||||||||||||||||||
1st lien/senior secured debt – 49.78% | ||||||||||||||||||||||
imperial bag & paper co. llc | ||||||||||||||||||||||
perfect commerce, llc | ||||||||||||||||||||||
1st lien/last-out unitranche – 41.94% | ||||||||||||||||||||||
united road services, inc. | ||||||||||||||||||||||
2nd lien/senior secured debt – 43.42% | ||||||||||||||||||||||
dubois chemicals, inc. | ||||||||||||||||||||||
increase in payable for investments purchased | 81,000 | -15,000,000 | ||||||||||||||||||||
investments at fair value – 175.41% # | ||||||||||||||||||||||
corporate debt – 158.59% | ||||||||||||||||||||||
1st lien/senior secured debt – 61.30% | ||||||||||||||||||||||
data driven delivery systems, llc | ||||||||||||||||||||||
iracore international holdings, inc. | ||||||||||||||||||||||
1st lien/last-out unitranche (10) – 47.78% | ||||||||||||||||||||||
integrated practice solutions, inc. | ||||||||||||||||||||||
2nd lien/senior secured debt – 49.04% | ||||||||||||||||||||||
diversitech corporation | ||||||||||||||||||||||
amortization of deferred financing costs | 304,000 | 302,000 | 302,000 | 295,000 | ||||||||||||||||||
increase in interest and credit facility expense payable | -57,000 | -8,000 | -35,000 | |||||||||||||||||||
repurchase of common stock | 0 | |||||||||||||||||||||
financing costs paid | -27,000 | 0 | -18,000 | -72,000 | ||||||||||||||||||
accrued but unpaid deferred financing costs | -28,000 | 0 | 36,000 | -58,000 | ||||||||||||||||||
investments at fair value – 169.34%# | ||||||||||||||||||||||
corporate debt – 153.49% | ||||||||||||||||||||||
1st lien/senior secured debt – 64.74% | ||||||||||||||||||||||
dispensing dynamics international | ||||||||||||||||||||||
1st lien/last-out unitranche – 46.59% | ||||||||||||||||||||||
2nd lien/senior secured debt – 42.16% | ||||||||||||||||||||||
investments at fair value - 166.82% # | ||||||||||||||||||||||
corporate debt - 153.73% | ||||||||||||||||||||||
1st lien/senior secured debt - 65.28% | ||||||||||||||||||||||
nts communications, inc. | ||||||||||||||||||||||
1st lien/last-out unitranche - 45.57% | ||||||||||||||||||||||
2nd lien/senior secured debt - 42.88% | ||||||||||||||||||||||
extraction oil & gas holdings, llc | ||||||||||||||||||||||
global tel*link corporation | ||||||||||||||||||||||
highwinds capital, inc. | ||||||||||||||||||||||
hunter defense technologies, inc. | ||||||||||||||||||||||
investments at fair value - 160.35% # | ||||||||||||||||||||||
corporate debt - 148.90% | ||||||||||||||||||||||
1st lien/senior secured debt - 61.03% | ||||||||||||||||||||||
1st lien/last-out unitranche - 44.81% | ||||||||||||||||||||||
2nd lien/senior secured debt - 43.06% | ||||||||||||||||||||||
net increase in net assets resulting from operations | 13,483,000 | |||||||||||||||||||||
payment-in-kind investments | -103,000 | |||||||||||||||||||||
increase in deferred financing costs | ||||||||||||||||||||||
increase in receivable from investment adviser | ||||||||||||||||||||||
increase in interest and credit facility payable | 127,000 | |||||||||||||||||||||
increase in accrued organization costs | ||||||||||||||||||||||
accrued but unpaid common stock repurchase | ||||||||||||||||||||||
shares issued pursuant to dividend reinvestment plan | 122,000 | |||||||||||||||||||||
investments at fair value - 163.01% # | ||||||||||||||||||||||
corporate debt - 151.89% | ||||||||||||||||||||||
1st lien/senior secured debt - 59.82% | ||||||||||||||||||||||
1st lien/last-out unitranche - 43.34% | ||||||||||||||||||||||
2nd lien/senior secured debt - 48.73% | ||||||||||||||||||||||
affordable care, inc. | ||||||||||||||||||||||
hutchinson technology, inc. | ||||||||||||||||||||||
investments at fair value - 142.29% # | ||||||||||||||||||||||
corporate debt - 133.20% | ||||||||||||||||||||||
1st lien/senior secured debt - 42.90% | ||||||||||||||||||||||
liquidnet holdings, inc. | ||||||||||||||||||||||
1st lien/last-out unitranche - 38.34% | ||||||||||||||||||||||
2nd lien/senior secured debt - 51.96% | ||||||||||||||||||||||
ifly holdings llc |