| Schedule of Financial Information of Investment |
The summarized financial statements of Solasglas are presented below.
Summarized Statements of Financial Condition of Solasglas Investments, LP | | | | | | | | | | | | | September 30, 2026 | | December 31, 2025 | | Assets | | | | | Investments, at fair value | $ | 557,650 | | | $ | 600,837 | | | Derivative contracts, at fair value | 11,754 | | | 22,384 | | | Due from brokers | 392,233 | | | 281,505 | | | | | | | Interest and dividends receivable | 502 | | | 1,463 | | | Total assets | 962,139 | | | 906,189 | | | | | | | Liabilities | | | | | Investments sold short, at fair value | (328,097) | | | (275,794) | | | Derivative contracts, at fair value | (37,312) | | | (6,670) | | | Capital withdrawals payable | (110) | | | (1,010) | | | | | | | Interest and dividends payable | (1,119) | | | (2,528) | | | Accrued expenses and other liabilities | (241) | | | (178) | | | Total liabilities | (366,879) | | | (286,180) | | | | | | | Partners' capital | $ | 595,260 | | | $ | 620,009 | | | | | | | GLRE’s share of Partners' capital | $ | 487,385 | | | $ | 504,555 | |
Summarized Statements of Operations of Solasglas Investments, LP | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended September 30 | | Nine months ended September 30 | | 2026 | | 2025 | | 2026 | | 2025 | | Investment income | | | | | | | | | Dividend income (net of withholding taxes) | $ | 1,432 | | | $ | 1,030 | | | $ | 5,152 | | | $ | 5,207 | | | Interest income | 3,453 | | | 5,060 | | | 10,306 | | | 13,509 | | | Total Investment income | 4,885 | | | 6,090 | | | 15,458 | | | 18,716 | | | | | | | | | | | Expenses | | | | | | | | | Management fee | (1,565) | | | (1,695) | | | (5,135) | | | (5,181) | | | Interest | (1,245) | | | (4,924) | | | (3,543) | | | (10,395) | | | Dividends | (1,535) | | | (884) | | | (4,292) | | | (2,561) | | | Research and operating | (386) | | | (335) | | | (1,424) | | | (1,306) | | | Total expenses | (4,731) | | | (7,838) | | | (14,394) | | | (19,443) | | | | | | | | | | | Net investment income | 154 | | | (1,748) | | | 1,064 | | | (727) | | | | | | | | | | | Realized and change in unrealized gains (losses) | | | | | | | | | Net realized gain (loss) | 12,538 | | | (57,283) | | | 73,138 | | | (1,594) | | | Net change in unrealized depreciation | (31,458) | | | 39,484 | | | (85,048) | | | 4,246 | | | Net gain (loss) on investment transactions | (18,920) | | | (17,799) | | | (11,910) | | | 2,652 | | | | | | | | | | Net increase (decrease) in Partners' capital (1) | $ | (18,766) | | | $ | (19,547) | | | $ | (10,846) | | | $ | 1,925 | | | | | | | | | | GLRE’s share of the increase (decrease) in Partners' capital | $ | (15,133) | | | $ | (14,404) | | | $ | (9,301) | | | $ | (483) | |
(1) The net increase (decrease) in Partners’ capital is net of management fees and performance allocation presented below:
| | | | | | | | | | | | | | | | | | | | | | | | | Three months ended September 30 | | Nine months ended September 30 | | 2026 | | 2025 | | 2026 | | 2025 | | Management fees | $ | 1,565 | | | $ | 1,695 | | | $ | 5,135 | | | $ | 5,181 | | | Performance allocation | (648) | | | (1,519) | | | — | | | 28 | | | Total | $ | 917 | | | $ | 176 | | | $ | 5,135 | | | $ | 5,209 | |
|