v3.26.1
Fair Value of Investments (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value of Investments [Abstract]  
Schedule of Fair Value Hierarchy of Investments

The following table presents the fair value hierarchy of investments as of June 30, 2026:

 

 

Fair Value Hierarchy as of June 30, 2026

 

Investments:

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

First-lien senior secured debt

 

$

 

 

$

971,550,785

 

 

$

 

 

$

971,550,785

 

Second-lien senior secured debt

 

 

 

 

 

59,085,127

 

 

 

 

 

 

59,085,127

 

Corporate Bonds

 

 

 

 

 

7,167,689

 

 

 

 

 

 

7,167,689

 

CLO Mezzanine

 

 

 

 

 

24,259,370

 

 

 

 

 

 

24,259,370

 

CLO Equity

 

 

 

 

 

3,966,693

 

 

 

 

 

 

3,966,693

 

Equity

 

 

 

 

 

7,471,097

 

 

 

 

 

 

7,471,097

 

Short Term Investments

 

 

39,876,479

 

 

 

 

 

 

 

 

 

39,876,479

 

Total Investments

 

$

39,876,479

 

 

$

1,073,500,761

 

 

$

 

 

$

1,113,377,240

 

 

The following table presents the fair value hierarchy of investments as of December 31, 2025:

 

Fair Value Hierarchy as of December 31, 2025

 

Investments:

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

First-lien senior secured debt

 

$

 

 

$

1,014,924,713

 

 

$

 

 

$

1,014,924,713

 

Second-lien senior secured debt

 

 

 

 

 

59,868,971

 

 

 

 

 

 

59,868,971

 

Corporate Bonds

 

 

 

 

 

7,929,631

 

 

 

 

 

 

7,929,631

 

CLO Mezzanine

 

 

 

 

 

34,300,352

 

 

 

 

 

 

34,300,352

 

CLO Equity

 

 

 

 

 

6,087,607

 

 

 

 

 

 

6,087,607

 

Equity

 

 

 

 

 

7,812,775

 

 

 

 

 

 

7,812,775

 

Short Term Investments

 

 

72,716,269

 

 

 

 

 

 

 

 

 

72,716,269

 

Total Investments

 

$

72,716,269

 

 

$

1,130,924,049

 

 

$

 

 

$

1,203,640,318

 

Schedule of Changes in the Fair Value of Investments The following table shows the changes in the fair value of the Company's Level 3 investments during the six months ended June 30, 2025.

 

 

Equity

 

Fair value, beginning of period

 

$

 

Purchases of investments, net

 

 

6,886,857

 

Proceeds from principal payments and sales of investments, net

 

 

 

Net change in unrealized gain (loss)

 

 

(865,138

)

Net accretion of discount on investments

 

 

 

Transfers into (out of) Level 3

 

 

(6,021,719

)

Fair value, end of period

 

$

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