The total rate of return is defined as the return based on the change in value during the period of a theoretical investment made at the beginning of the period. The total rate of return assumes a constant rate of return for the Fund during the period reported and weights each cash flow by the amount of time held in the Fund. This required methodology differs from an internal rate of return.

The ratios of expenses and net investment income (loss) to average net assets, calculated below, are annualized and are computed based upon the aggregate weighted average net assets of the Fund for the periods presented. Net investment income (loss) is inclusive of all investment income, net of expenses and excludes realized or unrealized gains and losses.

Beginning and ending net asset values per share are based on the beginning and ending number of shares outstanding. Other per share information is calculated based upon the aggregate weighted average net assets of the Fund for the periods presented.


	For the Three Months Ended June 30, 2026			For the Three Months Ended June 30, 2025			For the Six Months Ended June 30, 2026			For the Six Months Ended June 30, 2025

Total return**	4.67		%	(1.31		%)	12.12		%	(5.66		%)

Per share amounts:
Net asset value, beginning of period	$	309.65		$	201.42		$	263.94		$	126.72
Net investment income (loss)	16.69			(2.64)			35.55			(9.61)

Net increase (decrease) in net assets resulting from operations	16.69			(2.64)			35.55			(9.61)
Distributions of income to shareholder	(16.69)			—			(35.55)			—
Return of capital to shareholder	(46.73)			(9.91)			(71.02)			(28.24)
Contributions from shareholder	136.00			—			206.00			100.00
Net asset value, end of period	398.92			188.87			398.92			188.87
Net assets, end of period	$	39,892,108		$	18,886,758		$	39,892,108		$	18,886,758

Ratios to average net assets:

Expenses*	31.24		%	51.17		%	34.48		%	54.97		%
Net investment income (loss)*	17.82		%	(5.25		%)	22.18		%	(10.37		%)
Portfolio turn-over rate	—		%	—		%	—		%	—		%
Average debt outstanding	$	53,875,000		$	25,000,000		$	44,428,571		$	24,428,571

*Annualized
**Total return amounts presented above are not annualized.