Tax Information (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Income Tax Disclosure [Abstract] |
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| Schedule of Tax Character of Distributions |
The tax character of distributions was as follows:
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For the Year Ended December 31, 2025 |
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For the Year Ended December 31, 2024 |
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For the Year Ended December 31, 2023 |
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Distributions paid from: |
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Ordinary Income |
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$ |
659,156 |
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$ |
320,664 |
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$ |
65,578 |
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Net Long-Term Capital Gains |
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1,355 |
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5,253 |
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— |
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Total Taxable Distributions |
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$ |
660,511 |
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$ |
325,917 |
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$ |
65,578 |
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| Components of Accumulated Earnings (Losses) on Tax Basis |
The components of Accumulated Earnings (Losses) on a tax basis were as follows:
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December 31, 2025 |
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December 31, 2024 |
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December 31, 2023 |
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Undistributed Ordinary Income - net |
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$ |
1,355 |
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$ |
1,601 |
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$ |
1,310 |
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Undistributed Long-Term Capital Gains |
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— |
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$ |
1,355 |
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$ |
— |
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Total Undistributed Earnings |
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$ |
1,355 |
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$ |
2,956 |
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$ |
1,310 |
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Capital Loss Carryforward |
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Perpetual Short-Term |
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$ |
— |
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$ |
— |
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$ |
(584 |
) |
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Timing Differences (Dividend, Distributions Payable, Post - October Loss Deferral and Incentive Fees) |
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(2,071 |
) |
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— |
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(492 |
) |
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Unrealized Earnings (Losses)—net |
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(64,179 |
) |
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(4,873 |
) |
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1,965 |
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Total Accumulated Earnings (Losses)—net |
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$ |
(64,895 |
) |
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$ |
(1,917 |
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$ |
2,199 |
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| Schedule of Aggregate Unrealized Appreciation and Depreciation on Investments |
The Company’s aggregate unrealized appreciation and depreciation based on cost for U.S. federal income tax purposes were as follows:
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December 31, 2025 |
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December 31, 2024 |
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December 31, 2023 |
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Tax cost |
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$ |
15,985,041 |
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$ |
7,734,384 |
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$ |
1,848,619 |
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Gross unrealized appreciation |
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52,353 |
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33,822 |
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12,576 |
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Gross unrealized depreciation |
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(116,532 |
) |
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(38,695 |
) |
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(10,611 |
) |
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Net unrealized investment appreciation (depreciation) |
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$ |
(64,179 |
) |
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$ |
(4,873 |
) |
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$ |
1,965 |
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| Schedule of Reconciles Net Increase in Net Assets Resulting from Operations to Taxable Income |
The following table reconciles net increase in net assets resulting from operations to taxable income:
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December 31, 2025 |
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December 31, 2024 |
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December 31, 2023 |
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Net increase in net assets resulting from operations |
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$ |
598,898 |
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$ |
321,791 |
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$ |
67,777 |
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Adjustments: |
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Net unrealized (gains) losses |
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55,875 |
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3,094 |
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(1,965 |
) |
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Income not currently taxable |
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(1,509 |
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10 |
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— |
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Expenses not currently deductible |
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1,026 |
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75 |
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492 |
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Expenses for tax but not for book |
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(48 |
) |
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(492 |
) |
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— |
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Realized gain (loss) differences |
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4,667 |
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3,084 |
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— |
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Taxable income net of capital loss carryforward |
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$ |
658,909 |
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$ |
327,562 |
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$ |
66,304 |
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Capital loss carryforward |
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— |
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— |
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584 |
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Taxable income(1) |
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$ |
658,909 |
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$ |
327,562 |
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$ |
66,888 |
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(1)Taxable income is an estimate and is not fully determined until the Company’s tax return is filed.
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