| 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 | |
| Senior Secured Loan Debt Investments | |
$ | 89,698,072 | | |
$ | 73,646,067 | | |
$ | 133,165,847 | | |
$ | 103,743,544 | |
| Equity Investments - Common Stock | |
| 5,120,001 | | |
| 3,964,196 | | |
| 6,179,944 | | |
| 4,459,016 | |
| Equity Investments - Preferred Stock | |
| 28,071,878 | | |
| 23,059,768 | | |
| 5,988,431 | | |
| 3,743,867 | |
| Money Market Funds | |
| 4,925,914 | | |
| 4,925,914 | | |
| - | | |
| - | |
| United States Treasury Bill | |
| 108,489,232 | | |
| 108,489,232 | | |
| 105,317,160 | | |
| 105,317,160 | |
| Total Investments | |
$ | 236,305,097 | | |
$ | 214,085,177 | | |
$ | 250,651,382 | | |
$ | 217,263,587 | |
|
| 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 (excluding short-term investments and money market funds):
| | |
June 30,
2026 | | |
December 31,
2025 | |
| Leisure Products | |
| 16.8 | % | |
| 12.9 | % |
| Packaged Foods & Meats | |
| 13.4 | % | |
| 12.8 | % |
| Automotive | |
| 12.0 | % | |
| 11.5 | % |
| Commercial Building Products | |
| 10.9 | % | |
| 10.6 | % |
| Industrial Machinery | |
| 10.1 | % | |
| 10.0 | % |
| IT Consulting | |
| 8.0 | % | |
| 9.6 | % |
| Leisure Facilities | |
| 3.7 | % | |
| 7.8 | % |
| Apparel, Accessories & Luxury Goods | |
| 1.0 | % | |
| 5.2 | % |
| Diversified Support Services | |
| 0.6 | % | |
| 1.1 | % |
| Total | |
| 76.5 | % | |
| 81.5 | % |
|