v3.26.1
Derivatives
9 Months Ended
Jun. 30, 2026
Foreign Currency [Abstract]  
Derivatives
Note 5. Derivatives

The Company enters into derivatives from time to time to help mitigate its foreign currency risk exposures.

Forward Currency Contracts

The outstanding forward currency contracts as of June 30, 2026 were as follows:
As of June 30, 2026
CounterpartyCurrency to be soldCurrency to be purchasedSettlement DateUnrealized appreciationUnrealized depreciation
NatWest Markets Plc2,920 EUR$3,535 USD2/9/2028$106 $— 
NatWest Markets Plc£1,140 GBP$1,543 USD2/9/202829 — 
NatWest Markets PlcC$3,440 CAD$2,558 USD8/6/202788 — 
NatWest Markets PlcC$1,000 CAD$729 USD8/6/202711 — 
$234 $— 

The impact of forward currency contracts not designated as an effective hedge accounting relationship for the three months ended June 30, 2026 and the period from December 31, 2025 (commencement of operations) to June 30, 2026 on the Consolidated Statements of Operations, including unrealized gains (losses) is summarized in the table below:
Realized gain (loss) on forward currency contracts recognized in income
Risk exposure category
Three months ended June 30, 2026
Period from December 31, 2025 (commencement of operations) to June 30, 2026
Foreign exchange$19 $19 
Change in unrealized appreciation on forward currency contracts recognized in income
Risk exposure category
Three months ended June 30, 2026
Period from December 31, 2025 (commencement of operations) to June 30, 2026
Foreign exchange$41 $234 
The following table is a summary of the average outstanding daily volume for forward currency contracts for the three months ended June 30, 2026 and the period from December 31, 2025 (commencement of operations) to June 30, 2026:
Average U.S. Dollar notional outstanding
Three months ended June 30, 2026
Period from December 31, 2025 (commencement of operations) to June 30, 2026
Forward currency contracts$8,394 $6,689 

Exclusion of the Investment Adviser from Commodity Pool Operator Definition

Engaging in commodity interest transactions such as swap transactions or futures contracts for the Company could cause the Investment Adviser to fall within the definition of “commodity pool operator” under the Commodity Exchange Act (the “CEA”) and related Commodity Futures Trading Commission (the “CFTC”) regulations. The Investment Adviser has claimed an exclusion from the definition of the term “commodity pool operator” under the CEA and the CFTC regulations in connection with its management of the Company and, therefore, is not subject to CFTC registration or regulation under the CEA as a commodity pool operator with respect to its management of the Company.