| Schedule of Share Transaction Activity |
For the period from April 10, 2025 (date of Conversion) through June 30, 2026, Share transaction activity is as follows:
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For the period from April 10, 2025 (date of Conversion) through June 30, 2026 |
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Shares Issuance Date |
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Number of Shares |
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Aggregate Offering Proceeds |
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April 10, 2025 - initial conversion to unitized LLC |
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13,601,380 |
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$ |
340,034,511 |
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June 12, 2025 - contributions during the period |
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1,385,809 |
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35,000,000 |
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August 1, 2025 - contributions during the period |
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893,212 |
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22,500,000 |
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September 1, 2025 - contributions during the period |
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768,927 |
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19,500,000 |
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November 3, 2025 - contributions during the period |
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1,265,416 |
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31,500,000 |
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December 1, 2025 - contributions during the period |
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519,232 |
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13,000,000 |
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January 2, 2026 - contributions during the period |
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2,015,084 |
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50,500,000 |
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February 1, 2026 - contributions during the period |
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456,132 |
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11,500,000 |
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April 1, 2026 - contributions during the period |
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2,025,357 |
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50,000,000 |
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Net increases |
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22,930,549 |
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$ |
573,534,511 |
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| Schedule of Activity of Stockholders' Equity |
The following tables detail the activity of Shareholders’ Equity for the three and six months ended June 30, 2026 and 2025:
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Three Months Ended June 30, 2026 |
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Partners' Capital |
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Shares at Par Value |
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Capital in Excess of Par Value |
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Total Distributable (Loss) Earnings |
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Total Shareholders' Equity |
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Balance as of March 31, 2026 |
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$ |
— |
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$ |
20,905 |
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$ |
522,915,285 |
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$ |
(6,840,138 |
) |
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$ |
516,096,052 |
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Net investment income |
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— |
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— |
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— |
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9,660,214 |
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9,660,214 |
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Net realized loss from investment
transactions |
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— |
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— |
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— |
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(5,243 |
) |
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(5,243 |
) |
Net change in unrealized depreciation on
investments |
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— |
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— |
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— |
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(2,924,721 |
) |
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(2,924,721 |
) |
Net change in deferred income tax |
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— |
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— |
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— |
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(98,911 |
) |
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(98,911 |
) |
Issuance of Shares |
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— |
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2,026 |
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49,997,974 |
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— |
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50,000,000 |
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Distribution to Shareholders |
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— |
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— |
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— |
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(9,630,831 |
) |
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(9,630,831 |
) |
Balance as of June 30, 2026 |
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$ |
— |
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$ |
22,931 |
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$ |
572,913,259 |
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$ |
(9,839,630 |
) |
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$ |
563,096,560 |
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Six Months Ended June 30, 2026 |
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Partners' Capital |
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Shares at Par Value |
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Capital in Excess of Par Value |
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Total Distributable (Loss) Earnings |
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Total Shareholders' Equity |
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Balance as of December 31, 2025 |
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$ |
— |
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$ |
18,434 |
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$ |
460,917,756 |
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$ |
1,031,757 |
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$ |
461,967,947 |
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Net investment income |
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— |
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— |
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— |
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18,436,551 |
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18,436,551 |
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Net realized gain from investment
transactions |
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— |
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— |
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— |
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70,720 |
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70,720 |
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Net change in unrealized depreciation on
investments |
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— |
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— |
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— |
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(10,853,352 |
) |
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(10,853,352 |
) |
Net change in deferred income tax |
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— |
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— |
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— |
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(114,295 |
) |
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(114,295 |
) |
Issuance of Shares |
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— |
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4,497 |
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111,995,503 |
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— |
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112,000,000 |
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Distribution to Shareholders |
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— |
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— |
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— |
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(18,411,011 |
) |
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(18,411,011 |
) |
Balance as of June 30, 2026 |
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$ |
— |
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$ |
22,931 |
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$ |
572,913,259 |
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$ |
(9,839,630 |
) |
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$ |
563,096,560 |
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Three Months Ended June 30, 2025 |
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Partners' Capital |
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Shares at Par Value |
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Capital in Excess of Par Value |
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Total Distributable (Loss) Earnings |
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Total Shareholders' Equity |
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Balance as of March 31, 2025 |
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$ |
339,102,930 |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
339,102,930 |
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Conversion to unitized LLC |
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(340,034,511 |
) |
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13,601 |
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340,020,910 |
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— |
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— |
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Net investment income |
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931,581 |
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— |
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— |
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5,721,130 |
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6,652,711 |
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Net realized gain from investment
transactions |
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— |
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— |
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— |
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29,803 |
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29,803 |
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Net change in unrealized depreciation on
investments |
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— |
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— |
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— |
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(4,372,749 |
) |
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(4,372,749 |
) |
Net change in deferred income tax |
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— |
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— |
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— |
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(818,338 |
) |
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(818,338 |
) |
Issuance of Shares |
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— |
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1,386 |
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34,998,614 |
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— |
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35,000,000 |
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Balance as of June 30, 2025 |
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$ |
— |
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$ |
14,987 |
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$ |
375,019,524 |
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$ |
559,846 |
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$ |
375,594,357 |
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Six Months Ended June 30, 2025 |
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Partners' Capital |
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Shares at Par Value |
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Capital in Excess of Par Value |
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Total Distributable (Loss) Earnings |
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Total Shareholders' Equity |
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Balance as of December 31, 2024 |
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$ |
340,294,184 |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
340,294,184 |
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Conversion to unitized LLC |
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(340,034,511 |
) |
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13,601 |
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340,020,910 |
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— |
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— |
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Net investment income |
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(259,673 |
) |
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— |
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— |
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16,150,288 |
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15,890,615 |
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Net realized gain from investment
transactions |
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— |
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— |
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— |
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883,173 |
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883,173 |
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Net change in unrealized depreciation on
investments |
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— |
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— |
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— |
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(8,118,432 |
) |
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(8,118,432 |
) |
Net change in deferred income tax |
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— |
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— |
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— |
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(818,338 |
) |
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(818,338 |
) |
Issuance of Shares |
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— |
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1,386 |
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34,998,614 |
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— |
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35,000,000 |
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Distribution to Shareholders |
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— |
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— |
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— |
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(7,536,845 |
) |
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(7,536,845 |
) |
Balance as of June 30, 2025 |
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$ |
— |
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$ |
14,987 |
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$ |
375,019,524 |
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$ |
559,846 |
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$ |
375,594,357 |
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