Quarterly report pursuant to Section 13 or 15(d)

Investments

v3.24.3
Investments
 9 Months Ended
Sep. 30, 2024
Schedule of Investments [Abstract]  
Investments Investments
The composition of the Company’s investment portfolio at cost and fair value was as follows:
September 30, 2024 December 31, 2023
Amortized Cost Fair Value % of Total Investments at Fair Value Amortized Cost Fair Value % of Total Investments at Fair Value
First lien debt $ 12,230,901  $ 12,429,857  95.85  % $ 8,919,865  $ 9,002,695  96.93  %
Second lien debt 42,634  38,252  0.30  64,782  67,087  0.72 
Other secured debt 57,721  57,803  0.45  —  —  — 
Unsecured debt 44,720  45,061  0.35  28,901  29,101  0.31 
Structured finance investments 59,134  60,960  0.47  28,427  29,868  0.32 
Investments in joint ventures 265,279  284,454  2.19  125,513  124,003  1.33 
Equity investments 48,622  50,275  0.39  36,313  36,656  0.39 
Total $ 12,749,011  $ 12,966,662  100.00  % $ 9,203,801  $ 9,289,410  100.00  %
The industry composition of investments at fair value was as follows:
September 30, 2024 December 31, 2023
Fair Value % of Total Investments at Fair Value Fair Value % of Total Investments at Fair Value
Software and Computer Services $ 2,245,201  17.32  % $ 1,472,951  15.86  %
Industrial Support Services 1,873,116 14.45  1,063,701  11.45 
Medical Equipment and Services 1,239,507 9.56  802,273  8.64 
Health Care Providers 1,150,262 8.87  962,244  10.36 
Consumer Services 698,079 5.38  627,950  6.76 
Non-life Insurance 660,323 5.09  531,031  5.72 
Investment Banking and Brokerage Services 512,280 3.95  160,345  1.73 
General Industrials 485,582 3.74  405,330  4.36 
Media 436,575 3.37  605,503  6.52 
Pharmaceuticals and Biotechnology 409,773 3.16  268,572  2.89 
Aerospace and Defense 409,342 3.16  475,845  5.12 
Travel and Leisure 367,623 2.84  332,032  3.57 
Investments in Joint Ventures 284,454 2.19  124,003  1.33 
Industrial Engineering 238,729 1.84  254,138  2.74 
Personal Care, Drug and Grocery Stores 220,829 1.70  120,098  1.29 
Industrial Metals and Mining 203,785 1.57  11,895  0.13 
Construction and Materials 185,999 1.43  57,171  0.62 
Retailers 182,184 1.41  113,500  1.22 
Food Producers 171,465 1.32  152,576  1.64 
Industrial Transportation 122,025 0.94  33,196  0.36 
Electricity 101,728 0.78  83,267  0.90 
Automobiles and Parts 96,589 0.74  112,957  1.22 
Personal Goods 87,141 0.67  76,471  0.82 
Telecommunications Equipment 81,698 0.63  14,880  0.16 
Asset Based Lending and Fund Finance 71,925 0.55  21,341  0.23 
Real Estate Investment and Services 68,069 0.52  39,500  0.43 
Finance and Credit Services 63,200 0.49  59,003  0.64 
Structured Finance 60,960 0.47  29,868  0.32 
Technology Hardware and Equipment 55,386 0.43  70,623  0.76 
Oil, Gas and Coal 49,270 0.38  44,818  0.48 
Gas, Water and Multi-utilities 42,451 0.33  43,604  0.47 
Telecommunications Service Providers 32,128 0.25  70,997  0.76 
Alternative Energy 25,919 0.20  16,743  0.18 
Chemicals 15,097 0.12  15,157  0.16 
Life Insurance 8,789 0.07  5,884  0.06 
Household Goods and Home Construction 7,186 0.06  6,937  0.07 
Leisure Goods 1,993 0.02  1,991  0.02 
Electronic and Electrical Equipment —  —  1,015  0.01 
Total $ 12,966,662  100.00  % $ 9,289,410  100.00  %
The geographic composition of investments at cost and fair value was as follows:
September 30, 2024
Amortized Cost Fair Value % of Total Investments at Fair Value Fair Value as % of Net Assets
Australia $ 207,661  $ 217,292  1.68  % 2.75  %
Austria 87,851  95,034  0.73  1.20 
Canada 85,958  85,778  0.66  1.09 
France 81,673  87,047  0.67  1.10 
Germany 118,515  126,982  0.98  1.61 
Italy 128,168  137,741  1.06  1.75 
Luxembourg 6,943  6,981  0.05  0.09 
Norway 21,342  22,361  0.17  0.28 
Singapore 32,896  35,182  0.27  0.45 
Spain 35,319  37,559  0.29  0.48 
Sweden 164,153  165,346  1.28  2.10 
Taiwan 43,902  43,056  0.33  0.55 
United Kingdom 743,303  802,707  6.19  10.18 
United States 10,991,327  11,103,596  85.64  140.77 
Total $ 12,749,011  $ 12,966,662  100.00  % 164.40  %
December 31, 2023
Amortized Cost Fair Value % of Total Investments at Fair Value Fair Value as % of Net Assets
Australia $ 264,309  $ 266,377  2.87  % 5.14  %
Canada 78,148  77,962  0.84  1.50 
France 35,514  37,969  0.41  0.73 
Germany 68,533  71,499  0.77  1.38 
Italy 127,737  137,270  1.48  2.65 
Norway 24,920  24,957  0.27  0.48 
Singapore 31,713  32,862  0.35  0.63 
Spain 31,515  33,196  0.36  0.64 
Taiwan 46,557  40,359  0.43  0.78 
United Kingdom 426,120  444,188  4.78  8.57 
United States 8,068,735  8,122,771  87.44  156.65 
Total $ 9,203,801  $ 9,289,410  100.00  % 179.15  %
As of September 30, 2024 and December 31, 2023, the Company had certain investments in five and three portfolio companies on non-accrual status, respectively, which represented 0.26% and 0.33% of total debt and income producing investments, at fair value, respectively.
As of September 30, 2024 and December 31, 2023, on a fair value basis, 99.1% and 98.6%, respectively, of performing debt investments bore interest at a floating rate and 0.9% and 1.4%, respectively, of performing debt investments bore interest at a fixed rate.