Net investment income after taxes decreased to $181.57 million in 2025 from $252.55 million in 2024. Total investment income declined to $365.57 million in 2025 from $434.37 million in 2024, primarily due to lower base interest rates, tightening credit spreads, and a decrease in portfolio size. Net realized losses on investments were $123.12 million in 2025, compared to $157.97 million in 2024, mainly driven by restructurings and exits of certain portfolio companies. Net change in unrealized appreciation on investments was $64.65 million in 2025, a positive shift from a $37.06 million depreciation in 2024. The company's asset coverage ratio stood at 175% as of December 31, 2025, down from 181% in 2024, but still above the 150% regulatory requirement. The weighted average yield of the total portfolio (at fair value) decreased to 10.5% in 2025 from 13.2% in 2024. The portfolio consisted of 564 investments in 171 portfolio companies across 40 industries as of December 31, 2025. The largest industry concentrations by fair value were Software (17.6%), Health Care Providers & Services (8.8%), and Health Care Technology (8.4%). Geographically, 94.8% of the portfolio was in the United States, 3.2% in Canada, 1.5% in the United Kingdom, and 0.5% in India. Unfunded commitments to portfolio companies increased to $636.43 million as of December 31, 2025, from $492.97 million in 2024. The company repurchased 4,728,155 shares of common stock for $52.16 million in 2025 under its 10b5-1 plan. The Board of Directors approved a reduction in its size from seven to six directors and reallocated Class III directors effective February 25, 2026.