v3.26.1
Note 5 - Transactions With Affiliated Companies
3 Months Ended
Mar. 31, 2026
Notes to Financial Statements  
Investments in and Advances to Affiliates, Schedule of Investments [Text Block]

Note 5. Transactions with affiliated companies

 

A non-controlled affiliated company is generally a portfolio company in which the Company owns 5% or more of such portfolio company’s voting securities but not more than 25% of such portfolio company’s voting securities.

 

Transactions related to investments in non-controlled affiliated companies for the three months ended March 31, 2026 were as follows:  

 

          

Three months ended March 31, 2026

             
  

Fair value at

              

Transfers

      

Net

      

Fair value at

     

Portfolio

 

December 31,

      

Principal

      

in/(out) at

  

Discount

  

unrealized

  

Net realized

  

March 31,

  

Interest

 

Company

 

2025

  

Purchases

  

payments

  

PIK

  

fair value

  

accretion

  

gain/(loss)

  

gain/(loss)

  

2026

  

income

 
  

(In thousands)

 

Aulea Medical, Inc.

 $  $  $  $  $  $  $      $  $ 

Evelo Biosciences, Inc.

  1,486                        1,486    

Hound Labs II LLC

  11,369         219         (15)     11,573   219 

Nexii, Inc.

     4               (4)        27 

NextCar Holding Company, Inc.

  1,079      (243)           169      1,005   55 

Shengrow Inc.

  49,210         622      306         50,138   1,271 

Total non-controlled affiliates

 $63,144  $4  $(243) $841  $  $306  $150  $  $64,202  $1,572 

 

Transactions related to investments in non-controlled affiliated companies for the three months ended March 31, 2025 were as follows: 

 

          

Three months ended March 31, 2025

             
  

Fair value at

             

Transfers

      

Net

      

Fair value at

     

Portfolio

 

December 31,

             

in/(out) at

  

Discount

  

unrealized

  

Net realized

  

March 31,

  

Interest

 

Company

 

2024

  

Purchases

  

Sales

  

PIK

  

fair value

  

accretion

  

gain/(loss)

  

gain/(loss)

  

2025

  

income

 
  

(In thousands)

 

Aulea Medical, Inc.

 $  $  $  $  $  $  $  $  $  $ 

Evelo Biosciences, Inc.

  8,307   2               (2)     8,307    

Total non-controlled affiliates

 $8,307  $2  $  $  $  $  $(2) $  $8,307  $ 

 

A controlled affiliated company is generally a portfolio company in which the Company owns more than 25% of such portfolio company’s voting securities or has the power to exercise control over management or policies of such portfolio company (including through a management agreement).

 

There were no transactions related to investments in controlled affiliated companies for the three months ended  March 31, 2026.

 

Transactions related to investments in controlled affiliated companies for the three months ended March 31, 2025 were as follows:

 

          

Three months ended March 31, 2025

             
                                         
  Fair value at           Transfers     Net     Fair value at  Interest 

Portfolio

 

December 31,

      

Principal

      

in/(out) at

  

Discount

  

unrealized

  

Net realized

  

March 31,

  

income

 

Company

 

2024

  

Purchases

  

payments

  

PIK

  

fair value

  

accretion

  

gain/(loss)

  

gain/(loss)

  

2025

  

(reversal)

 
  

(In thousands)

 

Better Place Forests Co.

 $  $941  $  $  $  $  $(62) $  $879  $ 

HIMV LLC

  6,230                  (940)     5,290    

Nexii, Inc.

  8,547                  153      8,700   20 

Swift Health Systems, Inc.

  17,042   2,009      208      9   (19,268)        (81)

Total controlled affiliates

 $31,819  $2,950  $  $208  $  $9  $(20,117) $  $14,869  $(61)