| Summary of Aggregate Notional Amount and Fair Value of Derivative Financial Instruments |
The tables below present the aggregate notional amount and fair value hierarchy of the Company’s derivative financial instruments as of June 30, 2026 and December 31, 2025:
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June 30, 2026 |
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Derivative Assets |
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Level 1 |
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Level 2 |
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Level 3 |
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Total Fair Value |
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Notional |
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Foreign currency forward contract |
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$ |
— |
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$ |
1,750,982 |
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$ |
— |
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$ |
1,750,982 |
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$ |
95,433,389 |
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Total Derivative assets at fair value |
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$ |
— |
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$ |
1,750,982 |
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$ |
— |
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$ |
1,750,982 |
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$ |
95,433,389 |
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Cash collateral received |
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Derivative Liabilities |
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Foreign currency forward contract |
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$ |
— |
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$ |
(8,452 |
) |
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$ |
— |
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$ |
(8,452 |
) |
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$ |
1,192,273 |
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Total Derivative liabilities at fair value |
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$ |
— |
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$ |
(8,452 |
) |
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$ |
— |
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$ |
(8,452 |
) |
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$ |
1,192,273 |
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Cash collateral posted |
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$ |
2,110,000 |
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December 31, 2025 |
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Derivative Assets |
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Level 1 |
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Level 2 |
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Level 3 |
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Total Fair Value |
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Notional |
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Foreign currency forward contract |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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Total Derivative assets at fair value |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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Cash collateral received |
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Derivative Liabilities |
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Foreign currency forward contract |
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$ |
— |
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$ |
(168,270 |
) |
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$ |
— |
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$ |
(168,270 |
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$ |
87,359,985 |
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Total Derivative liabilities at fair value |
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$ |
— |
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$ |
(168,270 |
) |
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$ |
— |
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$ |
(168,270 |
) |
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$ |
87,359,985 |
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Cash collateral posted |
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$ |
2,500,000 |
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| Schedule of Derivative Assets and Liabilities Not Designated in Qualifying Hedge Accounting Relationship |
The table below presents the impact to the Consolidated Statements of Operations from derivative assets and liabilities not designated in a qualifying hedge accounting relationship for the three and six months ended June 30, 2026 and June 30, 2025, respectively. The unrealized gains and losses on the derivative assets and derivative liabilities not designated in a qualifying hedge accounting relationship are included within Net change in unrealized appreciation (depreciation) on Derivative instruments in the Consolidated Statements of Operations. The realized gains and losses on the derivative assets and derivative liabilities not designated in a qualifying hedge accounting relationship are included within Foreign currency and other transactions in the Consolidated Statements of Operations.
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For the Three Months Ended June 30, |
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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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2026 |
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2025 |
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Net change in unrealized appreciation (depreciation) |
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Foreign currency forward contract |
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$ |
116,175 |
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$ |
(371,995 |
) |
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$ |
1,910,800 |
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$ |
(1,053,020 |
) |
Net change in unrealized appreciation (depreciation) |
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$ |
116,175 |
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$ |
(371,995 |
) |
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$ |
1,910,800 |
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$ |
(1,053,020 |
) |
Net realized gain (loss) |
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Foreign currency forward contract |
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$ |
1,233,836 |
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$ |
(1,083,416 |
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$ |
1,233,836 |
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$ |
(1,083,416 |
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Net realized gain (loss) |
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$ |
1,233,836 |
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$ |
(1,083,416 |
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$ |
1,233,836 |
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$ |
(1,083,416 |
) |
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