v3.26.1
Statement of Assets and Liabilities (Unaudited) - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Investments    
Fair Value $ 157,635,546 [1],[2],[3] $ 132,220,501 [4],[5],[6]
Cash and cash equivalents 8,409,391 16,338,381
Interest receivable 14,398,204 11,531,821
Receivable from sale of investments 0 3,750,000
Prepaid expenses 19,199 83,272
Total assets 180,462,340 163,923,975
Liabilities    
Management fees payable 718,135 623,305
Incentive fees payable 2,621,990 2,780,956
Accrued audit and tax fees 199,917 224,000
Accrued expenses and other liabilities 71,015 64,045
Distributions payable 79,656 3,580,157
Total liabilities 3,690,713 7,272,463
Commitments and contingencies (Note 6)
Net assets    
Common shares, par value $0.01 per share, unlimited shares authorized (4,917,011 and 4,364,449 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively) 49,170 43,644
Paid-in-capital in excess of par value 139,946,270 121,085,674
Total distributable earnings (losses) 30,161,838 29,472,955
Net assets attributable to common shareholders 170,157,278 150,602,273
Incentive allocation attributable to the Investment Adviser 6,614,349 6,049,239
Total net assets 176,771,627 156,651,512
Total liabilities and net assets $ 180,462,340 $ 163,923,975
Net asset value per share attributable to common shareholders [7] $ 34.61 $ 34.51
Investment, Noncontrolled, affiliated Issuer [Member]    
Investments    
Fair Value $ 69,622,834 [1],[3] $ 40,823,403
Investment, non-controlled, non-affiliated investments    
Investments    
Fair Value $ 88,012,712 $ 91,397,098
[1] All investments are domiciled in the United States unless otherwise noted.
[2] Securities exempt from registration under the Securities Act (as defined in Note 1), and are deemed to be “restricted securities”. As of June 30, 2026, the aggregate fair value of these securities is $157.6 million or 89.2% of the Company’s net assets.
[3] Unless otherwise indicated, these investments were valued using unobservable inputs and are considered Level 3 investments.
[4] All investments are domiciled in the United States unless otherwise noted.
[5] Securities exempt from registration under the Securities Act (as defined in Note 1), and are deemed to be “restricted securities”. As of December 31, 2025, the aggregate fair value of these securities is $132.2 million or 84.4% of the Company’s net assets.
[6] Unless otherwise indicated, these investments were valued using unobservable inputs and are considered Level 3 investments.
[7] Calculated using net assets attributable to common shareholders