| Selected Quarterly Financial Data (unaudited) |
Note 12. Selected Quarterly Financial Data (unaudited) The following are the quarterly results of operations as of and for the years ended December 31, 2025, 2024 and 2023. The operating results for any quarter are not necessarily indicative of results for any future period:
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As of and for |
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As of and for |
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As of and for |
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As of and for |
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the Quarter |
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the Quarter |
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the Quarter |
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the Quarter |
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Ended |
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Ended |
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Ended |
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Ended |
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December 31, |
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September 30, |
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June 30, |
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March 31, |
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2025 |
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2025 |
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2025 |
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2025 |
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Total investment income |
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$ |
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41,779 |
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$ |
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36,434 |
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$ |
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30,219 |
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$ |
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21,685 |
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Net investment income (loss) before taxes |
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20,737 |
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16,283 |
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15,578 |
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9,839 |
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Excise tax expense |
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157 |
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130 |
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132 |
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81 |
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Net investment income (loss) after taxes |
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20,580 |
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16,153 |
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15,446 |
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9,758 |
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Net realized and unrealized gain (loss) |
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2,259 |
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5,187 |
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1,103 |
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716 |
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Net increase in net assets resulting from operations |
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22,839 |
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21,340 |
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16,549 |
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10,474 |
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Net realized and unrealized gain (loss) per share — basic and diluted |
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0.07 |
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0.19 |
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0.04 |
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0.04 |
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Net increase (decrease) in net assets resulting from operations per share — basic and diluted |
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0.67 |
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0.77 |
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0.67 |
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0.64 |
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Net asset value per share at period end |
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25.98 |
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25.90 |
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25.73 |
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25.69 |
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As of and for |
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As of and for |
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As of and for |
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As of and for |
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the Quarter |
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the Quarter |
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the Quarter |
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the Quarter |
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Ended |
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Ended |
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Ended |
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Ended |
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December 31, |
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September 30, |
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June 30, |
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March 31, |
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2024 |
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2024 |
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2024 |
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2024 |
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Total investment income |
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$ |
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20,443 |
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$ |
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15,330 |
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$ |
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10,139 |
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$ |
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8,253 |
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Net investment income (loss) before taxes |
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9,069 |
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7,813 |
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4,493 |
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4,156 |
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Excise tax expense |
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85 |
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69 |
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46 |
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- |
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Net investment income (loss) after taxes |
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8,984 |
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7,744 |
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4,447 |
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4,156 |
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Net realized and unrealized gain (loss) |
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2,557 |
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(328 |
) |
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1,123 |
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(323 |
) |
Net increase in net assets resulting from operations |
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11,541 |
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7,416 |
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5,570 |
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3,833 |
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Net realized and unrealized gain (loss) per share — basic and diluted |
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0.18 |
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(0.03 |
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0.17 |
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(0.06 |
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Net increase (decrease) in net assets resulting from operations per share — basic and diluted |
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0.83 |
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0.72 |
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0.87 |
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0.70 |
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Net asset value per share at period end |
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25.62 |
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25.57 |
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25.40 |
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25.06 |
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As of and for |
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As of and for |
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As of and for |
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As of and for |
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the Quarter |
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the Quarter |
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the Quarter |
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the Quarter |
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Ended |
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Ended |
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Ended |
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Ended |
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December 31, |
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September 30, |
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June 30, |
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March 31, |
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2023(1) |
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2023 |
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2023 |
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2023 |
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Total investment income |
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$ |
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2,393 |
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$ |
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- |
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$ |
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- |
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$ |
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- |
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Net investment income (loss) before taxes |
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2,767 |
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(502 |
) |
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(377 |
) |
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(722 |
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Excise tax expense |
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- |
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- |
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- |
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- |
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Net investment income (loss) after taxes |
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2,767 |
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(502 |
) |
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(377 |
) |
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(722 |
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Net realized and unrealized gain (loss) |
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1,618 |
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- |
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- |
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- |
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Net increase (decrease) in net assets resulting from operations |
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4,385 |
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(502 |
) |
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(377 |
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(722 |
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Net realized and unrealized gain (loss) per share — basic and diluted |
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0.39 |
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- |
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- |
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- |
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Net increase (decrease) in net assets resulting from operations per share — basic and diluted |
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0.41 |
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(8.91 |
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(9.37 |
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(470.55 |
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Net asset value per share at period end |
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24.88 |
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(19.75 |
) |
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(29.53 |
) |
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(20.16 |
) |
(1)Per share amounts reflect the time period November 28, 2023 (commencement of operations) through December 31, 2023. |