v3.26.1
Consolidated Schedules of Investments
 12 Months Ended
Dec. 31, 2025
USD ($)
shares
Schedule Of Investments [Line Items]  
% of Net Assets 287.30%
Amortized Cost $ 338,507,523
Fair Value 340,850,903
Short-term Investments, Amortized Cost 380,627,000
Total Investments, Amortized Cost 721,785,774
Total Investments, Fair Value 724,129,154
Net unrealized depreciation on unfunded commitments (563,734)
Liabilities in Excess of Other Assets $ (604,841,446)
First American Government Obligation Fund Yield Class X  
Schedule Of Investments [Line Items]  
Shares | shares 2,651,209
Cash Equivalents - % of Net Assets 2.20%
Cash Equivalents, Amortized Cost $ 2,651,209
Cash Equivalents, Fair Value $ 2,651,209
Cash Equivalents  
Schedule Of Investments [Line Items]  
Shares | shares 2,651,209
Cash Equivalents - % of Net Assets 2.20%
Cash Equivalents, Amortized Cost $ 2,651,209
Cash Equivalents, Fair Value $ 2,651,209
DEBT  
Schedule Of Investments [Line Items]  
% of Net Assets 286.10% [1],[2]
Amortized Cost $ 337,257,523 [1],[2]
Fair Value $ 339,497,792 [1],[2]
DEBT | Application Software  
Schedule Of Investments [Line Items]  
% of Net Assets 12.20% [1]
Amortized Cost $ 14,484,275 [1]
Fair Value $ 14,440,000 [1]
DEBT | Building Products  
Schedule Of Investments [Line Items]  
% of Net Assets 65.20% [1]
Amortized Cost $ 77,642,126 [1]
Fair Value $ 77,394,894 [1]
DEBT | Construction & Engineering  
Schedule Of Investments [Line Items]  
% of Net Assets 31.80% [1]
Amortized Cost $ 36,698,937 [1]
Fair Value $ 37,802,373 [1]
DEBT | Diversified Financials Services  
Schedule Of Investments [Line Items]  
% of Net Assets 38.20% [1]
Amortized Cost $ 44,968,958 [1]
Fair Value $ 45,310,353 [1]
DEBT | Electrical Components & Equipment  
Schedule Of Investments [Line Items]  
% of Net Assets 38.00% [1]
Amortized Cost $ 44,541,052 [1]
Fair Value $ 45,040,625 [1]
DEBT | Food & Staples Retailing  
Schedule Of Investments [Line Items]  
% of Net Assets 31.90% [1]
Amortized Cost $ 37,446,560 [1]
Fair Value $ 37,833,039 [1]
DEBT | Internet, Service & Infrastructure  
Schedule Of Investments [Line Items]  
% of Net Assets 35.90% [1]
Amortized Cost $ 42,219,667 [1]
Fair Value $ 42,597,561 [1]
DEBT | Personal Care Products  
Schedule Of Investments [Line Items]  
% of Net Assets 32.90% [1]
Amortized Cost $ 39,255,948 [1]
Fair Value $ 39,078,947 [1]
EQUITY  
Schedule Of Investments [Line Items]  
% of Net Assets 1.20%
Amortized Cost $ 1,250,000
Fair Value $ 1,353,111
EQUITY | Diversified Financials Services  
Schedule Of Investments [Line Items]  
% of Net Assets 1.20%
Amortized Cost $ 1,250,000
Fair Value $ 1,353,111
U.S. Treasury Bill  
Schedule Of Investments [Line Items]  
Shares | shares 385,000,000
Maturity Date Apr. 28, 2026
Short-term Investments - % of Net Assets 320.60%
Short-term Investments, Amortized Cost $ 380,627,042
Short-term Investments, Fair Value $ 380,627,042
Short-term Investments  
Schedule Of Investments [Line Items]  
Shares | shares 385,000,000
Short-term Investments - % of Net Assets 320.60%
Short-term Investments, Amortized Cost $ 380,627,042
Short-term Investments, Fair Value $ 380,627,042
Investment, Identifier [Axis]: Debt Investments, Application Software, Three Rivers Buyer, Inc. (Grant Street) Acquisition Date 11/03/25 Term Loan B – 8.60% (SOFR + 4.75%, 0.75% Floor) Net Assets 12.2% Maturity 11/03/31  
Schedule Of Investments [Line Items]  
Acquisition Date Nov. 03, 2025 [1]
Investment Interest Rate 8.60% [1]
Investment, Variable Interest Rate, Type [Extensible Enumeration] us-gaap:SecuredOvernightFinancingRateSofrMember
Investment Variable Interest Rate 4.75% [1]
Investment Interest Rate, Floor 0.75% [1]
% of Net Assets 12.20% [1]
Par Amount $ 14,615,385 [1]
Maturity Date Nov. 03, 2031 [1]
Amortized Cost $ 14,484,275 [1]
Fair Value $ 14,440,000 [1]
Investment, Identifier [Axis]: Debt Investments, Building Products, Charter Industries Holdings LLC Acquisition Date 10/01/25 Term Loan – 8.74% (SOFR + 4.75%, 0.75% Floor) Net Assets 32.2% Maturity 10/01/32  
Schedule Of Investments [Line Items]  
Acquisition Date Oct. 01, 2025 [1]
Investment Interest Rate 8.74% [1]
Investment, Variable Interest Rate, Type [Extensible Enumeration] us-gaap:SecuredOvernightFinancingRateSofrMember
Investment Variable Interest Rate 4.75% [1]
Investment Interest Rate, Floor 0.75% [1]
% of Net Assets 32.20% [1]
Par Amount $ 38,636,364 [1]
Maturity Date Oct. 01, 2032 [1]
Amortized Cost $ 38,352,591 [1]
Fair Value $ 38,250,000 [1]
Investment, Identifier [Axis]: Debt Investments, Building Products, Patriot MCN Buyer Corp., (McNichols) Acquisition Date 10/01/25 Term Loan – 8.74% (SOFR + 4.75%, 1.75% Floor) Net Assets 33.0% Maturity 10/01/31  
Schedule Of Investments [Line Items]  
Acquisition Date Oct. 01, 2025 [1]
Investment Interest Rate 8.74% [1]
Investment, Variable Interest Rate, Type [Extensible Enumeration] us-gaap:SecuredOvernightFinancingRateSofrMember
Investment Variable Interest Rate 4.75% [1]
Investment Interest Rate, Floor 1.75% [1]
% of Net Assets 33.00% [1]
Par Amount $ 39,700,704 [1]
Maturity Date Oct. 01, 2031 [1]
Amortized Cost $ 39,289,535 [1]
Fair Value $ 39,144,894 [1]
Investment, Identifier [Axis]: Debt Investments, Construction & Engineering, TechServ Operations, LLC Acquisition Date 05/15/25 Term Loan – 8.63% (SOFR + 4.75%, 1.00% Floor) Net Assets 31.8% Maturity 05/15/32  
Schedule Of Investments [Line Items]  
Acquisition Date May 15, 2025 [1]
Investment Interest Rate 8.63% [1]
Investment, Variable Interest Rate, Type [Extensible Enumeration] us-gaap:SecuredOvernightFinancingRateSofrMember
Investment Variable Interest Rate 4.75% [1]
Investment Interest Rate, Floor 1.00% [1]
% of Net Assets 31.80% [1]
Par Amount $ 37,061,150 [1]
Maturity Date May 15, 2032 [1]
Amortized Cost $ 36,698,937 [1]
Fair Value $ 37,802,373 [1]
Investment, Identifier [Axis]: Debt Investments, Diversified Financials Services, Tidal Investments LLC Acquisition Date 08/29/25 Term Loan – 9.67% (SOFR + 6.00%, 1.50% Floor) Net Assets 38.2% Maturity 08/29/30  
Schedule Of Investments [Line Items]  
Acquisition Date Aug. 29, 2025 [1]
Investment Interest Rate 9.67% [1]
Investment, Variable Interest Rate, Type [Extensible Enumeration] us-gaap:SecuredOvernightFinancingRateSofrMember
Investment Variable Interest Rate 6.00% [1]
Investment Interest Rate, Floor 1.50% [1]
% of Net Assets 38.20% [1]
Par Amount $ 45,538,043 [1]
Maturity Date Aug. 29, 2030 [1]
Amortized Cost $ 44,968,958 [1]
Fair Value $ 45,310,353 [1]
Investment, Identifier [Axis]: Debt Investments, Electrical Components & Equipment, Centaur Holdings III LLC (Copperweld) Acquisition Date 09/05/25 Delayed Draw Term Loan – 8.42% (SOFR + 4.75%, 0.75% Floor) Net Assets 2.1% Maturity 09/05/31  
Schedule Of Investments [Line Items]  
Acquisition Date Sep. 05, 2025 [1]
Investment Interest Rate 8.42% [1]
Investment, Variable Interest Rate, Type [Extensible Enumeration] us-gaap:SecuredOvernightFinancingRateSofrMember
Investment Variable Interest Rate 4.75% [1]
Investment Interest Rate, Floor 0.75% [1]
% of Net Assets 2.10% [1]
Par Amount $ 2,500,000 [1]
Maturity Date Sep. 05, 2031 [1]
Amortized Cost $ 2,500,000 [1]
Fair Value $ 2,500,000 [1]
Investment, Identifier [Axis]: Debt Investments, Electrical Components & Equipment, Centaur Holdings III LLC (Copperweld) Acquisition Date 09/05/25 Revolver – 8.42% (SOFR + 4.75%, 0.75% Floor) Net Assets 1.6% Maturity 09/05/31  
Schedule Of Investments [Line Items]  
Acquisition Date Sep. 05, 2025 [1]
Investment Interest Rate 8.42% [1]
Investment, Variable Interest Rate, Type [Extensible Enumeration] us-gaap:SecuredOvernightFinancingRateSofrMember
Investment Variable Interest Rate 4.75% [1]
Investment Interest Rate, Floor 0.75% [1]
% of Net Assets 1.60% [1]
Par Amount $ 1,875,000 [1]
Maturity Date Sep. 05, 2031 [1]
Amortized Cost $ 1,875,000 [1]
Fair Value $ 1,875,000 [1]
Investment, Identifier [Axis]: Debt Investments, Electrical Components & Equipment, Centaur Holdings III LLC (Copperweld) Acquisition Date 09/05/25 Term Loan – 8.42% (SOFR + 4.75%, 0.75% Floor) Net Assets 34.3% Maturity 09/05/31  
Schedule Of Investments [Line Items]  
Acquisition Date Sep. 05, 2025 [1]
Investment Interest Rate 8.42% [1]
Investment, Variable Interest Rate, Type [Extensible Enumeration] us-gaap:SecuredOvernightFinancingRateSofrMember
Investment Variable Interest Rate 4.75% [1]
Investment Interest Rate, Floor 0.75% [1]
% of Net Assets 34.30% [1]
Par Amount $ 40,625,000 [1]
Maturity Date Sep. 05, 2031 [1]
Amortized Cost $ 40,166,052 [1]
Fair Value $ 40,665,625 [1]
Investment, Identifier [Axis]: Debt Investments, Food & Staples Retailing, Frost Buyer, LLC (CraftMark) Acquisition Date 05/06/25 Delayed Draw Term Loan – 9.09% (SOFR + 5.25%, 1.00% Floor) Net Assets 0.9% Maturity 05/06/31  
Schedule Of Investments [Line Items]  
Acquisition Date May 06, 2025 [1]
Investment Interest Rate 9.09% [1]
Investment, Variable Interest Rate, Type [Extensible Enumeration] us-gaap:SecuredOvernightFinancingRateSofrMember
Investment Variable Interest Rate 5.25% [1]
Investment Interest Rate, Floor 1.00% [1]
% of Net Assets 0.90% [1]
Par Amount $ 1,048,400 [1]
Maturity Date May 06, 2031 [1]
Amortized Cost $ 1,048,400 [1]
Fair Value $ 1,040,013 [1]
Investment, Identifier [Axis]: Debt Investments, Food & Staples Retailing, Frost Buyer, LLC (CraftMark) Acquisition Date 05/06/25 Revolver – 9.09% (SOFR + 5.25%, 1.00% Floor) Net Assets 1.1% Maturity 05/06/31  
Schedule Of Investments [Line Items]  
Acquisition Date May 06, 2025 [1]
Investment Interest Rate 9.09% [1]
Investment, Variable Interest Rate, Type [Extensible Enumeration] us-gaap:SecuredOvernightFinancingRateSofrMember
Investment Variable Interest Rate 5.25% [1]
Investment Interest Rate, Floor 1.00% [1]
% of Net Assets 1.10% [1]
Par Amount $ 1,282,051 [1]
Maturity Date May 06, 2031 [1]
Amortized Cost $ 1,282,051 [1]
Fair Value $ 1,271,795 [1]
Investment, Identifier [Axis]: Debt Investments, Food & Staples Retailing, Frost Buyer, LLC (CraftMark) Acquisition Date 05/06/25 Term Loan – 9.09% (SOFR + 5.25%, 1.00% Floor) Net Assets 29.9% Maturity 05/06/31  
Schedule Of Investments [Line Items]  
Acquisition Date May 06, 2025 [1]
Investment Interest Rate 9.09% [1]
Investment, Variable Interest Rate, Type [Extensible Enumeration] us-gaap:SecuredOvernightFinancingRateSofrMember
Investment Variable Interest Rate 5.25% [1]
Investment Interest Rate, Floor 1.00% [1]
% of Net Assets 29.90% [1]
Par Amount $ 35,807,692 [1]
Maturity Date May 06, 2031 [1]
Amortized Cost $ 35,116,109 [1]
Fair Value $ 35,521,231 [1]
Investment, Identifier [Axis]: Debt Investments, Internet, Service & Infrastructure, CloudOne Digital Corp. Acquisition Date 08/05/25 Term Loan – 8.90% (SOFR + 5.00%, 1.00% Floor) Net Assets 35.9% Maturity 08/05/31  
Schedule Of Investments [Line Items]  
Acquisition Date Aug. 05, 2025 [1]
Investment Interest Rate 8.90% [1]
Investment, Variable Interest Rate, Type [Extensible Enumeration] us-gaap:SecuredOvernightFinancingRateSofrMember
Investment Variable Interest Rate 5.00% [1]
Investment Interest Rate, Floor 1.00% [1]
% of Net Assets 35.90% [1]
Par Amount $ 42,682,927 [1]
Maturity Date Aug. 05, 2031 [1]
Amortized Cost $ 42,219,667 [1]
Fair Value $ 42,597,561 [1]
Investment, Identifier [Axis]: Debt Investments, Personal Care Products, Designs for Health, Inc. Acquisition Date 10/16/25 Term Loan B – 8.39% (SOFR + 4.50%, 0.75% Floor) Net Assets 32.9% Maturity 10/16/30  
Schedule Of Investments [Line Items]  
Acquisition Date Oct. 16, 2025 [1]
Investment Interest Rate 8.39% [1]
Investment, Variable Interest Rate, Type [Extensible Enumeration] us-gaap:SecuredOvernightFinancingRateSofrMember
Investment Variable Interest Rate 4.50% [1]
Investment Interest Rate, Floor 0.75% [1]
% of Net Assets 32.90% [1]
Par Amount $ 39,473,684 [1]
Maturity Date Oct. 16, 2030 [1]
Amortized Cost $ 39,255,948 [1]
Fair Value $ 39,078,947 [1]
Investment, Identifier [Axis]: Equity Investments - Diversified Financials Services TFG Parent Holdings, LLC (Tidal) Date 08/29/25 Class A Common Units Net Assets 0.2%  
Schedule Of Investments [Line Items]  
Acquisition Date Aug. 29, 2025 [3],[4]
% of Net Assets 0.20% [3],[4]
Shares | shares 125,000 [3],[4]
Amortized Cost $ 125,000 [3],[4]
Fair Value $ 197,500 [3],[4]
Investment, Identifier [Axis]: Equity Investments - Diversified Financials Services TFG Parent Holdings, LLC (Tidal) Date 08/29/25 Class A Preferred Units Net Assets 1.0%  
Schedule Of Investments [Line Items]  
Acquisition Date Aug. 29, 2025 [3],[4]
% of Net Assets 1.00% [3],[4]
Shares | shares 1,125 [3],[4]
Amortized Cost $ 1,125,000 [3],[4]
Fair Value 1,155,611 [3],[4]
Investment, Identifier [Axis]: Net Assets (100.0%)  
Schedule Of Investments [Line Items]  
Net Assets $ 118,723,974
[1] Certain debt investments are subject to contractual restrictions on resale, such as approval of the agent or borrower.
[2] The fair value of each debt and equity investment was determined using significant unobservable inputs and such investments are considered to be Level 3 within the Fair Value Hierarchy. See Note 3 “Investment Valuations and Fair Value Measurements.”
[3] All or a portion of such security was acquired in a transaction exempt from registration under the Securities Act of 1933 as amended (the “Securities Act”), and may be deemed “restricted securities” under the Securities Act. As of December 31, 2025, the aggregate fair value of these securities was $1,353,111, or 0.2% of the Company’s total assets.
[4] Non-income producing.