| Schedule of investment portfolio at cost and fair value |
The composition of the Company’s investment portfolio at cost and fair value was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2025 |
|
|
|
Cost |
|
|
Fair Value |
|
|
% of Total
Investments
at Fair
Value |
|
First lien senior secured term loans |
|
$ |
60,697,628 |
|
|
$ |
61,126,185 |
|
|
|
80.0 |
% |
Second lien senior secured term loans |
|
|
8,102,996 |
|
|
|
8,102,996 |
|
|
|
10.6 |
% |
Warrants |
|
|
6,512,969 |
|
|
|
7,159,483 |
|
|
|
9.4 |
% |
Total |
|
$ |
75,313,593 |
|
|
$ |
76,388,664 |
|
|
|
100.0 |
% |
|
| Schedule of investments at fair value |
The industry composition of investments at fair value was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2025 |
|
|
|
Cost |
|
|
Fair Value |
|
|
% of Total
Investments
at Fair
Value |
|
Application Software |
|
$ |
5,941,725 |
|
|
$ |
5,941,725 |
|
|
|
7.8 |
% |
Consumer Finance |
|
|
1,990,411 |
|
|
|
1,990,411 |
|
|
|
2.6 |
% |
Data Processing |
|
|
8,257,078 |
|
|
|
8,257,078 |
|
|
|
10.8 |
% |
Education |
|
|
5,914,242 |
|
|
|
5,906,850 |
|
|
|
7.7 |
% |
Food & Beverage |
|
|
2,976,250 |
|
|
|
3,039,900 |
|
|
|
4.0 |
% |
Health & Wellness |
|
|
12,811,262 |
|
|
|
13,848,657 |
|
|
|
18.1 |
% |
Technology – Aerospace |
|
|
3,567,146 |
|
|
|
3,589,575 |
|
|
|
4.7 |
% |
Technology – Business |
|
|
9,488,699 |
|
|
|
9,513,180 |
|
|
|
12.5 |
% |
Technology – Consumer |
|
|
6,028,232 |
|
|
|
5,962,740 |
|
|
|
7.8 |
% |
Technology – Health & Wellness |
|
|
2,983,264 |
|
|
|
2,983,264 |
|
|
|
3.9 |
% |
Technology – Marketplace |
|
|
12,977,469 |
|
|
|
12,977,469 |
|
|
|
17.0 |
% |
Technology – Property |
|
|
2,377,815 |
|
|
|
2,377,815 |
|
|
|
3.1 |
% |
Total |
|
$ |
75,313,593 |
|
|
$ |
76,388,664 |
|
|
|
100.0 |
% |
|