v3.26.1
Financial Highlights (Tables)
12 Months Ended
Dec. 31, 2025
Investment Company, Financial Highlights [Abstract]  
Schedule of Financial Highlights

The following represents the per share data and the ratios to average net assets for the Company:

 

 

Twelve Months Ended December 31,

 

Six Months Ended December 31,

 

Twelve Months Ended June 30,

 

 

2025

 

2024

 

2024

 

2023

 

2022

 

2021

Per Share Data:(1)

 

 

 

 

 

 

 

 

 

 

 

 

Net asset value, beginning of period

 

$5.39

 

$5.21

 

$6.09

 

$6.50

 

$6.92

 

$7.79

Net investment income

 

0.13

 

0.22

 

0.46

 

0.65

 

0.62

 

0.65

Net realized and unrealized gains (losses)

 

(0.75)

 

0.20

 

(0.74)

 

(0.43)

 

(0.44)

 

(0.82)

Net increase (decrease) in net assets resulting from operations

 

(0.62)

 

0.42

 

(0.28)

 

0.22

 

0.18

 

(0.17)

Capital transactions(2)

 

 

 

 

 

 

 

 

 

 

 

 

Share repurchases

 

 

 

 

 

 

Dividends from net investment income

 

(0.52)

 

(0.24)

 

(0.60)

 

(0.63)

 

(0.60)

 

(0.70)

Distributions from net realized gains

 

 

 

 

 

 

Net decrease in net assets resulting from capital transactions

 

(0.52)

 

(0.24)

 

(0.60)

 

(0.63)

 

(0.60)

 

(0.70)

 

 

 

 

 

 

 

 

 

 

 

 

 

Offering costs

 

 

 

 

 

 

Net asset value, end of period

 

$4.25

 

$5.39

 

$5.21

 

$6.09

 

$6.50

 

$6.92

Market value per share, end of period

 

$2.70

 

$3.03

 

$3.36

 

$3.62

 

$4.24

 

$5.40

Total return based on market value(3)

 

7.16%

 

(2.12)%

 

10.52%

 

1.65%

 

(11.29)%

 

80.93%

Shares outstanding at end of year

 

14,432,472

 

14,406,244

 

14,403,752

 

14,391,775

 

14,385,810

 

13,921,767

Ratio/Supplemental Data:

 

 

 

 

 

 

 

 

 

 

 

 

Net assets, at end of period

 

$61,326,012

 

$77,602,130

 

$75,010,209

 

$87,700,308

 

$93,509,392

 

$96,355,849

Ratio of total expenses to average net assets(6)

 

21.66%

 

22.03%

 

22.29%

 

19.58%

 

16.15%

 

16.93%

Ratio of net expenses to average net assets(6)

 

21.18%

 

21.70%

 

21.83%

 

19.15%

 

15.67%

 

16.58%

Ratio of interest expense and fees and amortization of deferred debt issuance costs to average net assets(6)

 

11.24%

 

10.39%

 

11.59%

 

10.11%

 

7.33%

 

6.96%

Ratio of net investment income before fee waiver to average net assets(5)(6)

 

2.13%

 

7.72%

 

7.86%

 

10.03%

 

8.53%

 

8.24%

Ratio of net investment income after fee waiver to average net assets(6)

 

2.60%

 

8.05%

 

8.32%

 

10.46%

 

9.02%

 

8.58%

Total Borrowings

 

$123,900,000

 

$123,500,000

 

$108,000,000

 

$136,900,000

 

$149,000,000

 

$167,000,000

Asset Coverage Ratio(4)

 

1.50

 

1.63

 

1.69

 

1.64

 

1.63

 

1.58

Portfolio Turnover Rate

 

16%

 

12%

 

31%

 

22%

 

58%

 

35%

 

(1)
All per share data activity is calculated based on the weighted average shares outstanding for the relevant period, except net increase (decrease) in net assets from capital share transactions, which is based on the common shares outstanding as of the relevant balance sheet date.
(2)
The per share data for dividends and distributions declared reflects the actual amount of the dividends and distributions declared per share during the period.
(3)
Total returns are historical and are calculated by determining the percentage change in the market value with all dividend distributions, if any, reinvested. Dividends and distributions are assumed to be reinvested at prices obtained under the company’s dividend reinvestment plan. Total investment return does not reflect sales load.
(4)
Asset coverage ratio is equal to (i) the sum of (A) net assets at the end of the period and (B) debt outstanding at the end of the period, divided by (ii) total debt outstanding at the end of the period.
(5)
Percentages have been revised for the twelve months ended June 30, 2024, 2023, 2022 and 2021.
(6)
Ratios are annualized for the six months ended December 31, 2024.