| Schedule of Investment Portfolio at Amortized Cost and Fair Value |
The following table presents the composition of the Company’s
investment portfolio at amortized cost and fair value as of June 30, 2026 and December 31, 2025:
| | |
June 30, 2026 | | |
December 31, 2025 | |
| | |
Amortized | | |
Fair | | |
Amortized | | |
Fair | |
| | |
Cost | | |
Value | | |
Cost | | |
Value | |
| Corporate Bond Investments | |
$ | 29,355,860 | | |
$ | 29,520,346 | | |
$ | 40,723,252 | | |
$ | 41,486,860 | |
| Senior Secured Loan Debt Investments | |
| 54,217,373 | | |
| 54,608,546 | | |
| 42,778,592 | | |
| 43,344,626 | |
| Equity Investments – Preferred Stock | |
| 3,779,028 | | |
| 3,938,257 | | |
| 3,131,028 | | |
| 3,197,792 | |
| Warrants | |
| - | | |
| 256,052 | | |
| - | | |
| 8,102 | |
| Money Market Funds | |
| 14,045,778 | | |
| 14,045,778 | | |
| 6,217,008 | | |
| 6,217,008 | |
| Total Investments | |
$ | 101,398,039 | | |
$ | 102,368,979 | | |
$ | 92,849,880 | | |
$ | 94,254,388 | |
|
| Schedule of Investments Based on Fair Value as a Percentage of Net Assets |
The industry composition of investments based on fair value, as a
percentage of net assets, as of June 30, 2026 and December 31, 2025 was as follows:
| Industry | |
June 30,
2026 | | |
December 31,
2025 | |
| Transportation Excluding Air/Rail | |
| 20.6 | % | |
| 13.6 | % |
| Homebuilders/Real Estate | |
| 9.3 | % | |
| 3.5 | % |
| Health Care Services | |
| 6.8 | % | |
| 7.3 | % |
| Diversified Financial Services | |
| 7.1 | % | |
| 4.8 | % |
| Building Materials | |
| 4.7 | % | |
| 4.8 | % |
| Services | |
| 4.2 | % | |
| 4.2 | % |
| Diversified Support Services | |
| 6.0 | % | |
| 4.5 | % |
| Healthcare | |
| 3.0 | % | |
| 2.6 | % |
| Containers | |
| 2.3 | % | |
| 3.4 | % |
| Super Retail | |
| 3.4 | % | |
| 3.2 | % |
| Consumer Products | |
| 2.6 | % | |
| 2.7 | % |
| Utilities | |
| 1.8 | % | |
| 2.9 | % |
| Energy | |
| 2.5 | % | |
| 2.7 | % |
| Technology | |
| 2.3 | % | |
| 4.2 | % |
| Airlines | |
| 1.5 | % | |
| 2.0 | % |
| Publishing/Printing | |
| 1.6 | % | |
| 2.8 | % |
| Chemicals | |
| 1.5 | % | |
| 4.6 | % |
| Food/Beverage/Tobacco | |
| 1.0 | % | |
| 0.1 | % |
| Railroads | |
| 0.0 | % | |
| 1.1 | % |
| Gaming | |
| 0.5 | % | |
| 1.2 | % |
| Insurance | |
| 0.7 | % | |
| 0.5 | % |
| Capital Goods | |
| 0.8 | % | |
| 1.8 | % |
| Broadcasting | |
| 0.0 | % | |
| 0.5 | % |
| Telecommunications | |
| 0.3 | % | |
| 0.0 | % |
| Automotive & Auto Parts | |
| 0.5 | % | |
| 0.5 | % |
| Metals/Mining | |
| 0.5 | % | |
| 0.5 | % |
| Cable/Satellite TV | |
| 0.4 | % | |
| 0.0 | % |
| Transportation Infrastructure | |
| 0.0 | % | |
| 11.0 | % |
| Collateralized Debt Obligation | |
| 0.0 | % | |
| 0.5 | % |
| Total | |
| 85.9 | % | |
| 91.5 | % |
|