INVESTMENT IN RELATED PARTY INVESTMENT FUND (Tables)

3 Months Ended

Mar. 31, 2026

The summarized financial statements of Solasglas are presented below.

Summarized Statements of Financial Condition of Solasglas Investments, LP


	March 31, 2026		December 31, 2025
Assets
Investments, at fair value	$	599,730	$	600,837
Derivative contracts, at fair value	17,619		22,384
Due from brokers	350,783		281,505

Interest and dividends receivable	465		1,463
Total assets	968,597		906,189

Liabilities
Investments sold short, at fair value	(310,838)		(275,794)
Derivative contracts, at fair value	(12,545)		(6,670)
Capital withdrawals payable	(250)		(1,010)

Interest and dividends payable	(1,876)		(2,528)
Accrued expenses and other liabilities	(228)		(178)
Total liabilities	(325,737)		(286,180)

Partners' capital	$	642,860	$	620,009

GLRE’s share of Partners' capital	$	515,244	$	504,555

Summarized Statements of Operations of Solasglas Investments, LP


	Three months ended March 31
		2026		2025
Investment income
Dividend income (net of withholding taxes)		$	1,519	$	1,490
Interest income		3,362		3,627
Total Investment income		4,881		5,117

Expenses
Management fee		(1,866)		(1,730)
Interest		(551)		(1,701)
Dividends		(1,401)		(761)
Research and operating		(504)		(485)
Total expenses		(4,322)		(4,677)

Net investment income		559		440

Realized and change in unrealized gains (losses)
Net realized gain		61,966		19,105
Net change in unrealized appreciation (depreciation)		(16,423)		27,018
Net gain on investment transactions		45,543		46,123

Net increase in Partners' capital (1)		$	46,102	$	46,563

GLRE’s share of the increase in Partners' capital		$	33,689	$	32,197

(1) The net increase in Partners’ capital is net of management fees and performance allocation presented below: