Note 5 - Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2026

Notes Tables

Fair Value, by Balance Sheet Grouping [Table Text Block]

		*June 30, 2026*
		*Level 1*				*Level 2*				*Level 3*				*Total*
First Lien Senior Secured Loans		$	—			$	—			$	255,613			$	255,613
Total portfolio company investments			—				—				255,613				255,613
Cash equivalents ⁽¹⁾			9,731				—				—				9,731
Total portfolio company investments and cash equivalents		$	9,731			$	—			$	255,613			$	265,344

		*December 31, 2025*
		*Level 1*				*Level 2*				*Level 3*				*Total*
First Lien Senior Secured Loans		$	—			$	—			$	253,989			$	253,989
Total portfolio company investments			—				—				253,989				253,989
Cash equivalents ⁽¹⁾			3,146				—				—				3,146
Total portfolio company investments and cash equivalents		$	3,146			$	—			$	253,989			$	257,135

Reconciliation of Fair Value Balances [Table Text Block]

*Three Months Ended June 30, 2026*
		*First Lien Senior Secured Loans*				*Total Investments*
Fair value, beginning of period		$	252,495			$	252,495
Net change in unrealized appreciation (depreciation) on investments			(1,925	)			(1,925	)
Purchases of investments and other adjustments to cost ⁽¹⁾			25,412				25,412
Proceeds from principal repayments and sales of investments ⁽²⁾			(20,502	)			(20,502	)
Amortization of premium/accretion of discount, net			133				133
Net realized gain (loss) on investments			—				—
Balance as of June 30, 2026		$	255,613			$	255,613
Net change in unrealized appreciation (depreciation) on non-controlled/non-affiliated company investments still held at June 30, 2026		$	(1,870	)		$	(1,870	)

*Six Months Ended June 30, 2026*
		*First Lien Senior Secured Loans*				*Total Investments*
Fair value, beginning of period		$	253,989			$	253,989
Net change in unrealized appreciation (depreciation) on investments			(2,436	)			(2,436	)
Purchases of investments and other adjustments to cost ⁽¹⁾			40,847				40,847
Proceeds from principal repayments and sales of investments ⁽²⁾			(37,102	)			(37,102	)
Amortization of premium/accretion of discount, net			315				315
Net realized gain (loss) on investments			—				—
Balance as of June 30, 2026		$	255,613			$	255,613
Net change in unrealized appreciation (depreciation) on non-controlled/non-affiliated company investments still held at June 30, 2026		$	(2,349	)		$	(2,349	)

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

		*June 30, 2026*
								*Range*
		*Fair Value*			*Valuation Technique*	Unobservable Input ⁽¹⁾		*Low*				*High*				*Weighted Average*
First Lien Senior Secured Loans		$	219,921		Market Yield Analysis	Market Yield Discount Rates			6.8	%			11.4	%			8.1	%
					Guideline Public Companies	EBITDA Multiples		5.0x				17.1x				9.0x
					Transactions Precedent	EBITDA Multiples		6.4x				18.9x				10.9x
First Lien Senior Secured Loans		$	5,067		Market Yield Analysis	Market Yield Discount Rates			9.0	%			14.7	%			12.7	%
					Guideline Public Companies	EBITDA Multiples		4.7x				8.3x				7.4x
					Transactions Precedent	EBITDA Multiples		6.4x				13.5x				11.4x
					Discounted Cash Flow	WACC			8.4	%			9.8	%			9.5	%
						Long-Term Growth Rate			2.0	%			2.0	%			2.0	%
First Lien Senior Secured Loans		$	3,590		Guideline Public Companies	EBITDA Multiples		5.9x				7.3x				6.8x
					Transactions Precedent	EBITDA Multiples		6.3x				9.5x				8.1x
					Discounted Cash Flow	WACC			9.1	%			13.4	%			10.3	%
						Long-Term Growth Rate			1.0	%			2.0	%			1.7	%
Total		$	228,578

		*December 31, 2025*
								*Range*
		*Fair Value*			*Valuation Technique*	Unobservable Input ⁽¹⁾		*Low*				*High*				*Weighted Average*
First Lien Senior Secured Loans		$	225,328		Market Yield Analysis	Market Yield Discount Rates			7.2	%			11.2	%			8.4	%
					Guideline Public Companies	EBITDA Multiples		5.4x				16.8x				9.6x
					Transactions Precedent	EBITDA Multiples		6.4x				18.9x				10.8x

First Lien Senior Secured Loans		$	9,431		Market Yield Analysis	Market Yield Discount Rates			12.9	%			14.3	%			13.5	%
					Guideline Public Companies	EBITDA Multiples		7.2x				10.3x				9.3x
					Transactions Precedent	EBITDA Multiples		10.0x				13.7x				12.7x
					Discounted Cash Flow	WACC			8.3	%			10.1	%			9.0	%
						Long-Term Growth Rate			2.0	%			2.0	%			2.0	%
First Lien Senior Secured Loans		$	3,807		Guideline Public Companies	EBITDA Multiples		6.0x				7.5x				6.6x
					Transactions Precedent	EBITDA Multiples		8.0x				9.5x				8.6x
					Discounted Cash Flow	WACC			9.1	%			9.1	%			9.1	%
						Long-Term Growth Rate			1.0	%			1.0	%			1.0	%
Total		$	238,566