Portfolio

Overview

Portfolio as of June 30, 2026, and based on fair value unless otherwise noted.

232

Portfolio companies

21%

Top 10 concentration3

$11.4Bn

Portfolio Fair Value

9.8%

Weighted average annual yield on accruing debt investments4

63.0%

Senior secured investments1

$130M / 5.9x

Median direct origination portfolio company EBITDA & leverage2

3.8%

Non-accrual rate at Fair Value

23

Industries

Security Exposure

Senior secured loans – 1st lien: 58.7%
Senior secured loans – 2nd lien: 3.9%
Other senior secured debt: 0.4%
Subordinated debt: 0.9%
Asset based finance: 12.6%
Credit Opportunities Partners JV, LLC: 14.4%
Preferred equity⁵: 6.7%
Equity/other: 2.4%

Sector Exposure Across Top 10 Industries

Software & services: 17.7%
Credit Opportunities Partners JV, LLC: 14.4%
Health care equipment & services: 14.1%
Capital goods: 11.9%
Commercial & professional services: 11.8%
Financial services: 6.5%
Insurance: 4.4%
Media & entertainment: 4.1%
Consumer durables & apparel: 2.7%
Transportation: 2.4%
Other: 10.0%

Note: Does not look through to FSK’s portfolio companies held solely in Credit Opportunities Partners JV, LLC (COPJV) unless otherwise stated.

  1. Looking through to the investments in COPJV, senior secured investments total 72.9% as of June 30, 2026.
  2. Based on underlying Direct Origination corporate investments using most recently reported financial information and may include pro forma adjustments. Certain Asset Based Finance, Equity/Other and portfolio companies with negative or de minimis EBITDA are excluded.
  3. Figure excludes the impact of FSK’s investment in COPJV.
  4. FSK’s weighted average annual yield was 8.8% on all debt investments as of June 30, 2026. See FSK’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 for important information, including information related to the calculation and definition of weighted average annual yield on accruing debt investments, weighted average annual yield on all debt investments, variable rate debt investments, fixed rate debt investments, other income producing investments and non-income producing investments.
  5. Included within Equity/Other in FSK’s Quarterly and Annual Reports on Form 10-Q and 10-K, respectively.