Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Operations

v3.26.3
Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
INVESTMENT INCOME:        
Dividend income $ 3,832 $ 3,652 $ 11,198 $ 13,750
Fee income 1,459 1,598 4,460 3,597
Total investment income 35,529 35,367 105,316 104,237
EXPENSES:        
Interest (9,951) (8,649) (28,736) (25,570)
Base management fee (5,390) (4,860) (15,956) (14,739)
Incentive fee on income (3,106) (3,481) (9,322) (8,935)
Incentive fee on capital gains (883) 0 (3,194) 0
General and administrative (1,188) (1,334) (3,351) (3,510)
Internal administrative services expenses (187) (173) (561) (519)
Total expenses before expense waivers (20,705) (18,497) (61,120) (53,273)
Waiver of incentive fee on income 610 160 1,853 160
Total expenses, net of expense waivers (20,095) (18,337) (59,267) (53,113)
NET INVESTMENT INCOME BEFORE TAXES 15,434 17,030 46,049 51,124
Excise tax benefit (expense) (159) 39 (448) (240)
Federal and state income and other tax expenses (902) (492) (2,994) (2,253)
NET INVESTMENT INCOME 14,373 16,577 42,607 48,631
NET REALIZED GAIN (LOSS):        
Total net realized gain (loss) (3,882) (9,854) 5,734 (26,141)
NET UNREALIZED APPRECIATION (DEPRECIATION):        
Total net unrealized appreciation 9,044 21,007 15,505 35,886
Income tax benefit (provision) on net realized gain (loss) and net unrealized appreciation (1,389) (1,201) (3,205) 317
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS $ 18,146 $ 26,529 $ 60,641 $ 58,693
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS PER SHARE—BASIC (in dollars per share) $ 0.40 $ 0.56 $ 1.33 $ 1.27
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS PER SHARE—DILUTED (in dollars per share) $ 0.40 $ 0.56 $ 1.33 $ 1.27
WEIGHTED-AVERAGE SHARES OUTSTANDING—BASIC (in shares) 45,337,344 47,303,204 45,596,968 46,353,334
WEIGHTED-AVERAGE SHARES OUTSTANDING—DILUTED (in shares) 45,337,344 47,303,204 45,596,968 46,353,334
Control investments:        
INVESTMENT INCOME:        
Interest income $ 759 $ 711 $ 2,150 $ 2,099
Dividend income 0 477 764 1,976
Fee income 82 105 154 174
Total investment income 841 1,293 3,068 4,249
NET REALIZED GAIN (LOSS):        
Total net realized gain (loss) (15,130) 0 (15,130) 5,305
NET UNREALIZED APPRECIATION (DEPRECIATION):        
Total net unrealized appreciation 13,040 (1,113) 7,059 (7,014)
Affiliate investments:        
INVESTMENT INCOME:        
Interest income 5,969 5,723 17,898 16,422
Interest PIK income 731 634 2,222 1,390
Dividend income 2,130 2,482 6,668 9,388
Fee income 399 429 1,290 1,020
Total investment income 9,229 9,268 28,078 28,220
NET REALIZED GAIN (LOSS):        
Total net realized gain (loss) 0 (2,321) 9,939 (2,319)
NET UNREALIZED APPRECIATION (DEPRECIATION):        
Total net unrealized appreciation 2,503 9,693 9,467 12,460
Non‑Control/Non‑Affiliate investments:        
INVESTMENT INCOME:        
Interest income 20,721 21,376 61,805 62,265
Interest PIK income 2,058 1,673 5,583 4,714
Dividend income 1,702 693 3,766 2,386
Fee income 978 1,064 3,016 2,403
Total investment income 25,459 24,806 74,170 71,768
NET REALIZED GAIN (LOSS):        
Total net realized gain (loss) 11,248 (7,533) 10,925 (29,127)
NET UNREALIZED APPRECIATION (DEPRECIATION):        
Total net unrealized appreciation $ (6,499) $ 12,427 $ (1,021) $ 30,440