The financial highlights for the six months ended June 30, 2026 and 2025 are as follows:
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For the six months ended June 30, |
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2026 |
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2025 |
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Per Share Activity |
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Net asset value per share attributable to common shareholders, beginning of period |
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$ |
34.51 |
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$ |
29.83 |
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Net investment income (loss)1 |
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0.31 |
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0.39 |
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Net realized and unrealized gain (loss)1 |
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(0.07 |
) |
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3.88 |
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Net increase (decrease) in net assets resulting from operations |
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0.24 |
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4.27 |
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Distributions paid (declared) to shareholders1 |
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(0.03 |
) |
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(0.02 |
) |
Incentive Allocation attributable to the Investment Adviser1 |
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(0.11 |
) |
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(0.92 |
) |
Net increase (decrease) in net assets attributable to common shareholders |
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0.10 |
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3.33 |
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Net asset value per share attributable to common shareholders, end of period |
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$ |
34.61 |
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$ |
33.16 |
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Number of Shares outstanding at end of period |
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4,917,011 |
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3,662,571 |
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Total return before Incentive Allocation2 |
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0.70 |
% |
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14.31 |
% |
Total return after Incentive Allocation2 |
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0.38 |
% |
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11.16 |
% |
Ratios to Average Net Assets Attributable to Common Shareholders: |
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Net assets attributable to common shareholders, end of period |
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$ |
170,157,278 |
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$ |
121,441,778 |
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Net investment income (loss) before Incentive Allocation3 |
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1.81 |
% |
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2.53 |
% |
Net investment income (loss) after Incentive Allocation3 |
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1.47 |
% |
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(0.47 |
)% |
Total expenses before Incentive Allocation3 |
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2.49 |
% |
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2.95 |
% |
Total expenses after Incentive Allocation3 |
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2.83 |
% |
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5.95 |
% |
Portfolio turnover4 |
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0.00 |
% |
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0.00 |
% |
1.Calculated based on weighted average shares outstanding during the period. 2.Total return is not annualized and represents the total return for the six months ended June 30, 2026 and 2025 before and after the Incentive Allocation. Total return displayed is net of all fees, including all operating expenses such as management fees and general and administrative expenses. Total return is calculated as the change in net asset value (“NAV”) per Share attributable to common shareholders plus declared distributions per share, divided by the beginning NAV per Share attributable to common shareholders (which for the purposes of this calculation is equal to the net offering price in effect at that time). 3.The ratio reflects an annualized amount, except in the case of non-recurring expenses (i.e., incentive fee/incentive allocation). 4.No investments were sold during the period.
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