As mentioned in Note 2, the Company’s loan portfolio consists of loans that are collateralized by taxi medallions. The following table shows the composition of the difference between the aggregate principal balance outstanding and the aggregate fair value of the taxi medallion loans held for investment (in thousands):


	June 30, 2026			December 31, 2025
Total principal balance outstanding	$	916,378		$	928,299
Adjustment to reduce loans to fair value		(656,494	)		(646,628	)
Total loans held for investment, at fair value	$	259,884		$	281,671

The following table shows major classifications of loans held for investment, at fair value on current and non-accrual status (in thousands):


	June 30, 2026		December 31, 2025
Loans held for investment, at fair value
MRP+ Loans (NYC)
Current	$	124,292	$	130,760
Non-accrual		61,753		61,689
Non-MRP+ Loans (NYC):
Current		52,440		46,791
Non-accrual		12,305		31,788
Non-MRP+ Loans (Other):
Current		318		364
Non-accrual		8,776		10,279
Total loans held for investment, at fair value	$	259,884	$	281,671

The aggregate fair value and outstanding principal balances of taxi medallion loans that were on non-accrual status were as follows (in thousands):


	June 30, 2026			December 31, 2025
Total principal balance outstanding	$	673,032		$	685,983
Adjustment to reduce loans to fair value		(590,198	)		(582,227	)
Total non-accrual loans, at fair value	$	82,834		$	103,756