FORWARD CURRENCY CONTRACTS (Tables)

6 Months Ended

Jun. 30, 2026

FORWARD CURRENCY CONTRACTS

Schedule of forward currency contracts


			Three months ended June 30,					Six months ended June 30,
($ in thousands)			2026			2025			2026			2025
Realized gain (loss) on forward currency contracts		$	(51)		$	—		$	(416)		$	22
Unrealized appreciation (depreciation) on forward currency contracts			84			21			390			1
Total net realized and unrealized gains (losses) on forward currency contracts		$	33		$	21		$	(26)		$	23

Schedule of unrealized appreciation or depreciation on forward currency contracts


Counterparty		Currency to be sold				Currency to be purchased				Settlement date		Unrealized appreciation			Unrealized depreciation
Morgan Stanley		C$	2,013	CAD		$	1,488	USD		8/7/26		$	67		$	—
Total												$	67		$	—


Counterparty		Currency to be sold				Currency to be purchased				Settlement date		Unrealized appreciation			Unrealized depreciation
Morgan Stanley		C$	20,333	CAD		$	14,515	USD		2/6/26		$	—		$	(325)
Morgan Stanley		€	4,989	EUR		$	5,874	USD		2/6/26			2			—
Total												$	2		$	(325)

Schedule of notional exposure to foreign currency forward contracts


		Three months ended June 30,						Six months ended June 30,
Average USD notional outstanding			2026			2025			2026			2025
Forward currency contracts		$	10,270		$	5,775		$	11,034		$	3,026

Schedule of master netting agreement


		As of June 30, 2026
Counterparty ($ in thousands)		Derivative Assets Subject to Master Netting Agreement			Derivative Liabilities Subject to Master Netting Agreement			Derivatives Available for Offset			Non-cash Collateral Received			Non-cash Collateral Pledged⁽¹⁾			Cash Collateral Received⁽¹⁾			Cash Collateral Pledged⁽¹⁾			Net Amount of Derivative Assets⁽²⁾			Net Amount of Derivative Liabilities⁽³⁾
Morgan Stanley (CAD)		$	67		$	—		$	—		$	—		$	—		$	—		$	—		$	67		$	—
Total		$	67		$	—		$	—		$	—		$	—		$	—		$	—		$	67		$	—

(1)	In some instances, the actual amount of the collateral received and/or pledged may be more than the amount shown due to overcollateralization.

(2)	Net amount of derivative assets represents the net amount due from the counterparty to the Company in the event of default.

(3)	Net amount of derivative liabilities represents the net amount due from the Company to the counterparty in the event of default.


		As of December 31, 2025
Counterparty ($ in thousands)		Derivative Assets Subject to Master Netting Agreement			Derivative Liabilities Subject to Master Netting Agreement			Derivatives Available for Offset			Non-cash Collateral Received			Non-cash Collateral Pledged⁽¹⁾			Cash Collateral Received⁽¹⁾			Cash Collateral Pledged⁽¹⁾			Net Amount of Derivative Assets⁽²⁾			Net Amount of Derivative Liabilities⁽³⁾
Morgan Stanley (CAD)		$	—		$	325		$	—		$	—		$	—		$	—		$	—		$	—		$	325
Morgan Stanley (EUR)			2			—			—			—			—			—			—			2			—
Total		$	2		$	325		$	—		$	—		$	—		$	—		$	—		$	2		$	325

(1)	In some instances, the actual amount of the collateral received and/or pledged may be more than the amount shown due to overcollateralization.

(2)	Net amount of derivative assets represents the net amount due from the counterparty to the Company in the event of default.

(3)	Net amount of derivative liabilities represents the net amount due from the Company to the counterparty in the event of default.