v3.26.1
Investments (Tables)
 6 Months Ended
Jun. 30, 2026
Schedule of Investments [Abstract]  
Schedule of Composition of the Fund’s Investment Portfolio at Cost and Fair Value The following table summarizes the composition of the Fund’s portfolio investments by industry at cost and fair value and as a percentage of the total portfolio as of June 30, 2026, and December 31, 2025 (dollars in thousands):
June 30, 2026December 31, 2025
CostFair ValueCostFair Value
IndustryAmount%Amount%Amount%Amount%
Medical Devices$23,156 16.8 %$23,234 16.6 %$15,998 13.2 %$16,088 13.1 %
Finance and Insurance16,713 12.1 %16,766 12.0 %17,918 14.8 %18,043 14.6 %
AI Automation & Infrastructure15,990 11.6 %15,911 11.3 %14,516 12.0 %14,732 12.0 %
SaaS14,505 10.5 %14,584 10.4 %13,246 10.9 %13,256 10.8 %
Energy and Resource Technology13,680 9.9 %13,641 9.7 %
10,354 
8.5 
%
10,380 
8.4 
%
Space Technology13,092 9.5 %14,556 10.4 %
12,599 
10.4 
%
13,602 
11.0 
%
Healthcare Technology11,233 8.1 %11,249 8.0 %
8,487 
7.0 
%
8,572 
7.0 
%
Marketing, Media and Entertainment8,607 6.3 %8,421 6.0 %
7,085 
5.9 
%
7,052 
5.7 
%
Other Healthcare Services6,592 4.8 %6,656 4.8 %
5,938 
4.9 
%
6,088 
4.9 
%
Connectivity3,987 2.9 %4,015 2.9 %
5,438 
4.5 
%
5,511 
4.5 
%
Biotechnology3,521 2.6 %3,609 2.6 %
3,497 
2.9 
%
3,548 
2.9 
%
Diagnostics & Tools3,152 2.3 %3,161 2.3 %
1,795 
1.5 
%
1,814 
1.5 
%
Consumer Products & Services3,026 2.2 %3,577 2.6 %
3,280 
2.7 
%
3,512 
2.8 
%
Food and Agriculture Technologies340 0.2 %306 0.2 %
634 
0.5 
%
601 
0.5 
%
Transportation Technology338 0.2 %286 0.2 %
357 
0.3 
%
328 
0.3 
%
Total$137,932 100.0 %$139,972 100.0 %
121,142 
100.0 
%
123,127 
100.0 
%
The following table summarizes the composition of the Fund’s portfolio investments by geographic region of the United States and other countries at cost and fair value and as a percentage of the total portfolio as of June 30, 2026, and December 31, 2025 (dollars in thousands):
June 30, 2026December 31, 2025
CostFair ValueCostFair Value
Geographic RegionAmount%Amount%Amount%Amount%
United States
West$41,726 30.3 %$43,362 31.0 %$40,554 33.5 %$41,668 33.9 %
Northeast41,385 30.0 %41,717 29.7 %39,148 32.3 %39,440 32.0 %
Midwest12,960 9.4 %13,007 9.3 %7,132 5.9 %7,140 5.8 %
Mountain12,470 9.0 %12,413 8.9 %8,764 7.2 %8,907 7.2 %
South12,165 8.8 %12,285 8.8 %12,580 10.4 %12,844 10.4 %
Southeast8,690 6.3 %8,722 6.2 %4,748 3.9 %4,821 3.9 %
International:
Western Europe5,202 3.8 %5,267 3.8 %4,469 3.7 %4,540 3.7 %
Canada3,334 2.4 %3,199 2.3 %3,747 3.1 %3,767 3.1 %
Total$137,932 100.0 %$139,972 100.0 %$121,142 100.0 %$123,127 100.0 %

The following table summarizes the composition of the Fund’s portfolio investments by investment type at cost and fair value and as a percentage of the total portfolio as of June 30, 2026, and December 31, 2025 (dollars in thousands):

June 30, 2026December 31, 2025
CostFair ValueCostFair Value
InvestmentAmount%Amount%Amount%Amount%
Secured Loans$103,482 75.0 %$103,709 74.1 %$89,048 73.5 %$90,068 73.2 %
Equipment Financings30,920 22.4 %30,793 22.0 %29,275 24.2 %29,325 23.8 %
Warrants2,705 2.0 %4,224 3.0 %2,445 2.0 %3,214 2.6 %
Equity825 0.6 %1,246 0.9 %374 0.3 %520 0.4 %
Total$137,932 100.0 %$139,972 100.0 %$121,142 100.0 %$123,127 100.0 %