v3.26.1
Agreements and Related Party Transactions (Tables)
 6 Months Ended
Jun. 30, 2026
Agreements and Related Party Transactions [Abstract]  
Schedule of Affiliated Companies

During the six months ended June 30, 2026, the Company had the following transactions with affiliated companies:

 

Senior Secured Loan Debt Investments  Par Value as of
June 30, 2026		   Fair Value
as of
December 31, 2025		   Acquisitions   Dispositions   Accretion   Realized Gain (Loss)   Change in Unrealized Appreciation/ (Depreciation)   Fair Value as of
June 30, 2026		   Interest Income   Income from PIK Interest 
Aqua Leisure Recreation, LLC Second Lien Term Loan  $1,687,155   $
-
   $1,650,000    
-
   $37,155   $
       -
   $(37,155)  $1,650,000   $
-
   $37,155 
Diamond Blade Warehouse LLC First Lien Term Loan  $11,350,000   $11,990,438   $
-
   $(679,798)  $148,843   $
-
   $(38,729)  $11,420,754   $794,320   $149,793 
Quest Bidco (GoApe) LLC First Lien Delayed Draw Term Loan  $19,581,960   $10,766,502   $1,500,000    
-
   $
-
   $
-
   $(7,370,745)  $4,895,757   $
-
   $
-
 
Quest Bidco (GoApe) LLC Super Senior Priority Term Loan  $22,305   $12,400   $
-
    
-
   $
-
   $
-
   $(12,400)  $-   $
-
   $
-
 
Recreational Products Consolidation Company, LLC Promissory Note  $343,750   $
-
   $343,750    
-
   $
-
   $
-
   $
-
   $343,750   $
-
   $
-
 
Total                           $
-
   $(7,459,029)  $18,310,261   $794,320   $186,948 

 

Equity Investments - Common Stock  Units
as of
June 30,
2026		   Fair Value
as of
December 31,
2025		   Acquisitions   Dispositions   Realized Gain
(Loss)		   Change in
Unrealized
Appreciation/
(Depreciation)		   Fair Value
as of
June 30,
2026		   Dividend Income 
QUEST JVCO LIMITED Common Stock Class A   638,245   $
        -
   $
        -
   $
         -
   $
       -
   $
            -
   $
      -
   $
     -
 
QUEST JVCO LIMITED Common Stock   111,755   $
-
   $
-
   $
-
   $
-
   $
-
   $
-
   $
-
 
Total                  
 
   $
-
   $
-
   $
-
   $
-
 

 

Equity Investments - Preferred Stock  Units
as of
June 30,
2026		   Fair Value
as of
December 31, 2025		   Acquisitions   Dispositions   Realized Gain
(Loss)		   Change in
Unrealized
Appreciation/
(Depreciation)		   Fair Value
as of
June 30,
2026		   Dividend
Income		 
Diamond Blade Warehouse LLC Preferred Stock – Class A   1,095,044   $1,808,344   $
-
   $
        -
   $
      -
   $24,931   $1,833,275   $
     -
 
Recreational Products Holding Company, LLC Preferred Stock – Class B   25,311,140   $
-
   $24,608,323   $
-
   $
-
   $(4,456,949)  $20,151,374   $
-
 
Total                  
 
   $
-
   $(4,432,018)  $21,984,649   $
-
 

 

Total Affiliates   Income from PIK
Interest		     Interest
Income		     Realized Gain
(Loss)		     Change in
Unrealized
Appreciation/
(Depreciation)		     Fair Value
as of
June 30,
2026		  
    $ 186,948     $ 794,320     $     -     $ (11,891,047)     $ 40,294,910  

During the six months ended June 30, 2025, the Company had the following transactions with affiliated companies:

 

Senior Secured Loan Debt Investments  Par Value as of
June 30, 2025		   Fair Value
as of
December 31,
2024		   Acquisitions   Dispositions   Accretion   Realized Gain
(Loss)		   Change in
Unrealized
Appreciation/
Depreciation		   Fair Value as of
June 30,
2025		   Interest
Income		   Income from PIK Interest 
Midwest Trading Group Acquisition, LLC First Lien Term Loan  $15,682,726   $15,207,254   $
-
   $(38,811)  $167,713   $
       -
   $(7,352,355)  $8,061,423   $1,020,365   $256,330 
Diamond Blade Warehouse First Lien Term Loan  $11,704,647   $11,787,557   $
-
   $
-
   $186,941   $
-
   $(90,570)  $11,883,928   $871,233   $170,902 
Quest Bidco (GoApe) LLC Second Lien Term Loan  $17,431,960   $12,119,884   $1,326,500   $(136,366)  $1,001,530   $
-
   $(1,469,702)  $13,114,578   $1,115,915   $1,116,416 
Quest Bidco LLC Second Lien Term Loan  $20,825   $16,423   $
-
   $
-
   $514   $
-
   $(1,270)  $15,667   $
-
   $514 
Total                           $
-
   $(8,913,897)  $33,075,596   $3,007,513   $1,544,162 

 

Equity Investments - Common Stock  Shares
as of
June 30,
2025		   Fair Value
as of
December 31,
2024		   Acquisitions   Dispositions   Realized Gain
(Loss)		   Change in
Unrealized
Appreciation/
Depreciation		   Fair Value
as of
June 30,
2025		   Dividend
Income		 
Midwest Trading Group Acquisition, LLC Class A-1   500   $341,014   $
        -
   $
          -
   $
       -
   $(341,014)  $
       -
   $
      -
 
Midwest Trading Group Acquisition, LLC Class A-3   400   $
-
   $
-
   $
-
   $
-
    
 
   $
-
   $
-
 
Midwest Trading Group Acquisition, LLC Class C   900   $
-
   $
-
   $
-
   $
-
    
 
   $
-
   $
-
 
QUEST JVCO LIMITED - Class A   638,245   $
-
   $
-
   $
-
   $
-
    
 
   $
-
   $
-
 
QUEST JVCO LIMITED - Loan Notes   111,755   $
-
   $
-
   $
-
   $
-
    
 
   $
-
   $
-
 
Total       $
-
   $
-
   $
-
   $
-
    (341,014)  $
-
   $
-
 

 

Equity Investments - Preferred Stock   Shares
as of
June 30,
2025		     Fair Value
as of
December 31,
2024		     Acquisitions     Dispositions     Realized Gain
(Loss)		     Change in
Unrealized
Appreciation/
Depreciation		     Fair Value
as of
June 30,
2025		     Dividend
Income		  
Diamond Blade Warehouse     1,095,044     $ 2,002,864     $             -     $            -     $           -     $ 161,656     $ 2,164,520     $            -  
Total                            
 
     $ -     $ 161,656     $ 2,164,520     $ -  

 

Total Affiliates   Income from PIK
Interest		     Interest
Income		     Realized Gain
(Loss)		     Change in
Unrealized
Appreciation/
(Depreciation)		     Fair Value
as of
June 30,
2025		  
    $ 1,544,162     $ 3,007,513     $       -     $ (9,093,255)     $ 35,240,116