v3.26.3
Condensed Consolidated Schedule of Investments (Unaudited) - USD ($)
Sep. 30, 2026
Dec. 31, 2025
Fair Value $ 377,196,404 $ 225,511,505
Percentage of Net Assets   32.70%
Non-Controlled/Non-Affiliate [Member]    
Cost 193,959,206 [1] $ 219,216,145 [2]
Fair Value $ 336,977,637 [1] $ 217,304,138 [2]
Percentage of Net Assets 100.68% [1] 105.84% [2]
Non-Controlled/Non-Affiliate [Member] | Whoop, Inc. [Member]    
Cost $ 11,013,088 [1] $ 11,013,088 [2]
Fair Value $ 143,326,796 [1] $ 28,357,435 [2]
Percentage of Net Assets 42.82% [1] 13.81% [2]
Non-Controlled/Non-Affiliate [Member] | Whoop, Inc. [Member] | Series C Preferred Stock [Member]    
Headquarters/Industry Fitness Technology [1] Fitness Technology [2]
Date of Initial Investment Jun. 30, 2022 [1] Jun. 30, 2022 [2]
Cost $ 10,011,460 [1] $ 10,011,460 [2]
Fair Value $ 141,968,736 [1] $ 27,357,435 [2]
Percentage of Net Assets 42.41% [1] 13.32% [2]
Shares/Principal/Quantity 13,293,450 [1],[3] 13,293,450 [2],[4]
Non-Controlled/Non-Affiliate [Member] | Whoop, Inc. [Member] | Series G2 Preferred Stock [Member]    
Headquarters/Industry [1] Fitness Technology  
Date of Initial Investment [1] Feb. 06, 2025  
Cost [1] $ 1,001,628  
Fair Value [1] $ 1,358,060  
Percentage of Net Assets [1] 0.41%  
Shares/Principal/Quantity [1],[3] 127,164  
Non-Controlled/Non-Affiliate [Member] | Whoop, Inc. [Member] | Simple Agreement for Future Equity [Member]    
Headquarters/Industry [2]   Fitness Technology
Date of Initial Investment [2]   Feb. 06, 2025
Cost [2]   $ 1,001,628
Fair Value [2]   $ 1,000,000
Percentage of Net Assets [2]   0.49%
Investment Owned, Balance, Principal Amount [2],[4]   $ 1,000,000
Non-Controlled/Non-Affiliate [Member] | ARK Type One Deep Ventures Fund LLC [Member] | Class A Interest [Member]    
Headquarters/Industry AI Application Fund [1],[5],[6] AI Application Fund [2],[7],[8]
Date of Initial Investment Sep. 25, 2024 [1],[5],[6] Sep. 25, 2024 [2],[7],[8]
Cost $ 17,880,318 [1],[5],[6] $ 17,696,568 [2],[7],[8]
Fair Value $ 59,444,942 [1],[5],[6] $ 42,212,173 [2],[7],[8]
Percentage of Net Assets 17.76% [1],[5],[6] 20.56% [2],[7],[8]
Investment Owned, Balance, Principal Amount $ 17,500,000 [1],[3],[5],[6] $ 17,500,000 [2],[4],[7],[8]
Non-Controlled/Non-Affiliate [Member] | IH10, LLC [Member] | Membership Interest [Member]    
Headquarters/Industry AI Infrastructure Fund [1],[6],[9] AI Infrastructure Fund [2],[8],[10]
Date of Initial Investment Oct. 09, 2024 [1],[6],[9] Oct. 09, 2024 [2],[8],[10]
Cost $ 12,273,784 [1],[6],[9] $ 12,273,784 [2],[8],[10]
Fair Value $ 33,976,149 [1],[6],[9] $ 12,132,897 [2],[8],[10]
Percentage of Net Assets 10.15% [1],[6],[9] 5.91% [2],[8],[10]
Investment Owned, Balance, Principal Amount $ 12,000,010 [1],[3],[6],[9] $ 12,000,010 [2],[4],[8],[10]
Non-Controlled/Non-Affiliate [Member] | Blink Health, Inc. [Member]    
Cost 15,004,340 [1] 15,004,340 [2]
Fair Value $ 13,115,662 [1] $ 21,001,638 [2]
Percentage of Net Assets 3.92% [1] 10.23% [2]
Non-Controlled/Non-Affiliate [Member] | Blink Health, Inc. [Member] | Series C Preferred Stock [Member]    
Headquarters/Industry Pharmaceutical Technology [1] Pharmaceutical Technology [2]
Date of Initial Investment Oct. 27, 2020 [1] Oct. 27, 2020 [2]
Cost $ 10,003,917 [1] $ 10,003,917 [2]
Fair Value $ 8,115,668 [1] $ 11,001,648 [2]
Percentage of Net Assets 2.43% [1] 5.36% [2]
Shares/Principal/Quantity 261,944 [1],[3] 261,944 [2],[4]
Non-Controlled/Non-Affiliate [Member] | Blink Health, Inc. [Member] | Series A Preferred Stock [Member]    
Headquarters/Industry Pharmaceutical Technology [1] Pharmaceutical Technology [2]
Date of Initial Investment Oct. 27, 2020 [1] Oct. 27, 2020 [2]
Cost $ 5,000,423 [1] $ 5,000,423 [2]
Fair Value $ 4,999,994 [1] $ 9,999,990 [2]
Percentage of Net Assets 1.49% [1] 4.87% [2]
Shares/Principal/Quantity 238,095 [1],[3] 238,095 [2],[4]
Non-Controlled/Non-Affiliate [Member] | Canva, Inc. [Member] | Common Stock [Member]    
Headquarters/Industry Productivity Software [1] Productivity Software [2]
Date of Initial Investment Apr. 17, 2024 [1] Apr. 17, 2024 [2]
Cost $ 10,058,820 [1] $ 10,058,820 [2]
Fair Value $ 13,101,914 [1] $ 15,432,563 [2]
Percentage of Net Assets 3.91% [1] 7.52% [2]
Shares/Principal/Quantity 9,375 [1],[3] 9,375 [2],[4]
Non-Controlled/Non-Affiliate [Member] | Locus Robotics Corp. [Member] | Series F Preferred Stock 6% [Member]    
Headquarters/Industry Warehouse Automation [1] Warehouse Automation [2]
Date of Initial Investment Nov. 30, 2022 [1] Nov. 30, 2022 [2]
Cost $ 10,004,286 [1] $ 10,004,286 [2]
Fair Value $ 12,532,759 [1] $ 11,995,290 [2]
Percentage of Net Assets 3.74% [1] 5.84% [2]
Shares/Principal/Quantity 232,568 [1],[3] 232,568 [2],[4]
Non-Controlled/Non-Affiliate [Member] | Supplying Demand, Inc. (d/b/a Liquid Death) [Member]    
Cost $ 10,256,296 [1] $ 10,256,296 [2]
Fair Value $ 10,249,996 [1] $ 10,249,996 [2]
Percentage of Net Assets 3.06% [1] 4.99% [2]
Non-Controlled/Non-Affiliate [Member] | Supplying Demand, Inc. (d/b/a Liquid Death) [Member] | Series F-1 Preferred Stock [Member]    
Headquarters/Industry Lifestyle Beverage Brand [1] Lifestyle Beverage Brand [2]
Date of Initial Investment Jan. 18, 2024 [1] Jan. 18, 2024 [2]
Cost $ 10,003,934 [1] $ 10,003,934 [2]
Fair Value $ 9,999,996 [1] $ 9,999,996 [2]
Percentage of Net Assets 2.99% [1] 4.87% [2]
Shares/Principal/Quantity 776,747 [1],[3] 776,747 [2],[4]
Non-Controlled/Non-Affiliate [Member] | Supplying Demand, Inc. (d/b/a Liquid Death) [Member] | Series F Convertible Note 4.12 % [Member]    
Headquarters/Industry Lifestyle Beverage Brand [1],[11] Lifestyle Beverage Brand  [2],[12]
Date of Initial Investment Jul. 29, 2025 [1],[11] Jul. 29, 2025 [2],[12]
Cost $ 252,362 [1],[11] $ 252,362 [2],[12]
Fair Value $ 250,000 [1],[11] $ 250,000 [2],[12]
Percentage of Net Assets 0.07% [1],[11] 0.12% [2],[12]
Investment Owned, Balance, Principal Amount $ 250,000 [1],[3],[11] $ 250,000 [2],[4],[12]
Non-Controlled/Non-Affiliate [Member] | Click House Inc [Member] | Series A Preferred Stock [Member]    
Headquarters/Industry [1] Managed Database and Analytics  
Date of Initial Investment [1] Apr. 22, 2026  
Cost [1] $ 9,579,812  
Fair Value [1] $ 9,471,170  
Percentage of Net Assets [1] 2.83%  
Shares/Principal/Quantity [1],[3] 41,179  
Non-Controlled/Non-Affiliate [Member] | Shogun Enterprises, Inc. (d/b/a Hearth) [Member]    
Cost $ 8,043,104 [1] 8,040,806 [2]
Fair Value $ 8,110,581 [1] $ 8,289,899 [2]
Percentage of Net Assets 2.42% [1] 4.04% [2]
Non-Controlled/Non-Affiliate [Member] | Shogun Enterprises, Inc. (d/b/a Hearth) [Member] | Common Stock [Member]    
Headquarters/Industry [1],[13] Home Improvement Finance  
Date of Initial Investment [1],[13] Jul. 12, 2023  
Cost [1],[13] $ 142,358  
Fair Value [1],[13] $ 79,773  
Percentage of Net Assets [1],[13] 0.02%  
Shares/Principal/Quantity [1],[3],[13] 86,076  
Non-Controlled/Non-Affiliate [Member] | Shogun Enterprises, Inc. (d/b/a Hearth) [Member] | Preferred Shares, Series B-1 [Member]    
Headquarters/Industry Home Improvement Finance [1] Home Improvement Finance [2]
Date of Initial Investment Feb. 26, 2021 [1] Feb. 26, 2021 [2]
Cost $ 3,501,657 [1] $ 3,501,657 [2]
Fair Value $ 3,499,993 [1] $ 3,499,994 [2]
Percentage of Net Assets 1.05% [1] 1.70% [2]
Shares/Principal/Quantity 436,844 [1],[3] 436,844 [2],[4]
Non-Controlled/Non-Affiliate [Member] | Shogun Enterprises, Inc. (d/b/a Hearth) [Member] | Preferred Shares, Series B-2 [Member]    
Headquarters/Industry Home Improvement Finance [1] Home Improvement Finance [2]
Date of Initial Investment Feb. 26, 2021 [1] Feb. 26, 2021 [2]
Cost $ 3,501,661 [1] $ 3,501,661 [2]
Fair Value $ 3,499,998 [1] $ 3,499,998 [2]
Percentage of Net Assets 1.05% [1] 1.70% [2]
Shares/Principal/Quantity 301,750 [1],[3] 301,750 [2],[4]
Non-Controlled/Non-Affiliate [Member] | Shogun Enterprises, Inc. (d/b/a Hearth) [Member] | Preferred Shares, Series B-3 [Member]    
Headquarters/Industry Home Improvement Finance [1] Home Improvement Finance [2]
Date of Initial Investment May 02, 2022 [1] May 02, 2022 [2]
Cost $ 530,822 [1] $ 530,822 [2]
Fair Value $ 530,820 [1] $ 530,820 [2]
Percentage of Net Assets 0.16% [1] 0.26% [2]
Shares/Principal/Quantity 56,936 [1],[3] 56,936 [2],[4]
Non-Controlled/Non-Affiliate [Member] | Shogun Enterprises, Inc. (d/b/a Hearth) [Member] | Preferred Shares, Series B-4 [Member]    
Headquarters/Industry Home Improvement Finance [1] Home Improvement Finance [2]
Date of Initial Investment Jul. 12, 2023 [1] Jul. 12, 2023 [2]
Cost $ 366,606 [1] $ 366,606 [2]
Fair Value $ 499,997 [1] $ 499,998 [2]
Percentage of Net Assets 0.15% [1] 0.24% [2]
Shares/Principal/Quantity 48,267 [1],[3] 48,267 [2],[4]
Non-Controlled/Non-Affiliate [Member] | Shogun Enterprises, Inc. (d/b/a Hearth) [Member] | Common Warrants, Strike Price $0.01, Expiration Date 7/12/2026 [Member]    
Headquarters/Industry [2]   Home Improvement Finance
Date of Initial Investment [2]   Jul. 12, 2023
Cost [2]   $ 140,060
Fair Value [2]   $ 259,089
Percentage of Net Assets [2]   0.13%
Shares/Principal/Quantity [2],[4]   86,076
Non-Controlled/Non-Affiliate [Member] | Plaid Inc [Member] | Common Stock [Member]    
Headquarters/Industry Financial Technology Infrastructure [1],[14] Financial Technology Infrastructure [2],[15]
Date of Initial Investment Apr. 04, 2025 [1],[14] Apr. 04, 2025 [2],[15]
Cost $ 5,395,542 [1],[14] $ 5,395,542 [2],[15]
Fair Value $ 6,922,679 [1],[14] $ 4,999,874 [2],[15]
Percentage of Net Assets 2.07% [1],[14] 2.44% [2],[15]
Shares/Principal/Quantity 24,512 [1],[3],[14] 24,512 [2],[4],[15]
Non-Controlled/Non-Affiliate [Member] | FourKites, Inc. [Member] | Common Stock [Member]    
Headquarters/Industry Supply Chain Technology [1] Supply Chain Technology [2]
Date of Initial Investment Jul. 07, 2023 [1] Jul. 07, 2023 [2]
Cost $ 8,530,389 [1] $ 8,530,389 [2]
Fair Value $ 5,356,057 [1] $ 5,682,945 [2]
Percentage of Net Assets 1.60% [1] 2.77% [2]
Shares/Principal/Quantity 1,398,024 [1],[3] 1,398,024 [2],[4]
Non-Controlled/Non-Affiliate [Member] | EDGE Markets, Inc. [Member] | Preferred Shares, Series Seed 8% [Member]    
Headquarters/Industry Gaming Technology [1],[16] Gaming Technology [2],[17]
Date of Initial Investment May 18, 2022 [1],[16] May 18, 2022 [2],[17]
Cost $ 501,330 [1],[16] $ 501,330 [2],[17]
Fair Value $ 3,201,961 [1],[16] $ 500,000 [2],[17]
Percentage of Net Assets 0.96% [1],[16] 0.24% [2],[17]
Shares/Principal/Quantity 456,704 [1],[16],[18] 456,704 [2],[4],[17]
Non-Controlled/Non-Affiliate [Member] | PayJoy, Inc. [Member]    
Cost $ 3,003,040 [1] $ 3,003,040 [2]
Fair Value $ 2,999,758 [1] $ 3,207,718 [2]
Percentage of Net Assets 0.90% [1] 1.56% [2]
Non-Controlled/Non-Affiliate [Member] | PayJoy, Inc. [Member] | Series C Preferred Stock [Member]    
Headquarters/Industry Mobile Access Technology [1] Mobile Access Technology [2]
Date of Initial Investment Jul. 23, 2021 [1] Jul. 23, 2021 [2]
Cost $ 2,501,570 [1] $ 2,501,570 [2]
Fair Value $ 2,499,758 [1] $ 2,707,718 [2]
Percentage of Net Assets 0.75% [1] 1.32% [2]
Shares/Principal/Quantity 244,117 [1],[3] 244,117 [2],[4]
Non-Controlled/Non-Affiliate [Member] | PayJoy, Inc. [Member] | Simple Agreement for Future Equity [Member]    
Headquarters/Industry Mobile Access Technology [1] Mobile Access Technology [2]
Date of Initial Investment May 25, 2023 [1] May 25, 2023 [2]
Cost $ 501,470 [1] $ 501,470 [2]
Fair Value $ 500,000 [1] $ 500,000 [2]
Percentage of Net Assets 0.15% [1] 0.24% [2]
Investment Owned, Balance, Principal Amount $ 500,000 [1],[3] $ 500,000 [2],[4]
Non-Controlled/Non-Affiliate [Member] | True Global Ventures 4 Plus Pte Ltd [Member] | Limited Partner Fund Investment [Member]    
Headquarters/Industry Venture Investment Fund [1],[6],[19] Venture Investment Fund [2],[8],[20]
Date of Initial Investment Aug. 27, 2021 [1],[6],[19] Aug. 27, 2021 [2],[8],[20]
Cost $ 202,378 [1],[6],[19] $ 448,304 [2],[8],[20]
Fair Value $ 2,884,437 [1],[6],[19] $ 3,130,363 [2],[8],[20]
Percentage of Net Assets 0.86% [1],[6],[19] 1.52% [2],[8],[20]
Investment Owned, Balance, Principal Amount $ 2,000,000 [1],[3],[6],[19] $ 2,000,000 [2],[4],[8],[20]
Non-Controlled/Non-Affiliate [Member] | Neutron Holdings, Inc. (d/b/a/ Lime) [Member]    
Cost [2]   10,513,661
Fair Value [2]   $ 5,412,825
Percentage of Net Assets [2]   2.64%
Non-Controlled/Non-Affiliate [Member] | Neutron Holdings, Inc. (d/b/a/ Lime) [Member] | Common Stock [Member]    
Headquarters/Industry [1],[6],[18],[21] Micromobility  
Date of Initial Investment [1],[6],[18],[21] Jan. 25, 2019  
Cost [1],[6],[18],[21] $ 10,637,752  
Fair Value [1],[6],[18],[21] $ 2,852,663  
Percentage of Net Assets [1],[6],[18],[21] 0.85%  
Shares/Principal/Quantity [3],[6],[18],[21] 101,266  
Non-Controlled/Non-Affiliate [Member] | Neutron Holdings, Inc. (d/b/a/ Lime) [Member] | Junior Preferred Stock Series 1-D [Member]    
Headquarters/Industry [2]   Micromobility
Date of Initial Investment [2]   Jan. 25, 2019
Cost [2]   $ 10,007,322
Fair Value [2]   $ 4,703,189
Percentage of Net Assets [2]   2.29%
Shares/Principal/Quantity [2],[4]   41,237,113
Non-Controlled/Non-Affiliate [Member] | Neutron Holdings, Inc. (d/b/a/ Lime) [Member] | Junior Preferred Convertible Note 4% Due 5/11/2027 [Member]    
Headquarters/Industry [2],[12]   Micromobility
Date of Initial Investment [2],[12]   May 11, 2020
Cost [2],[12]   $ 506,339
Fair Value [2],[12]   $ 506,339
Percentage of Net Assets [2],[12]   0.25%
Investment Owned, Balance, Principal Amount [2],[4],[12]   $ 506,339
Non-Controlled/Non-Affiliate [Member] | Neutron Holdings, Inc. (d/b/a/ Lime) [Member] | Common Warrants Strike Price $0.01 Expiration Date 5/11/2027 [Member]    
Headquarters/Industry [2]   Micromobility
Date of Initial Investment [2]   May 11, 2020
Cost [2]  
Fair Value [2]   $ 203,297
Percentage of Net Assets [2]   0.10%
Shares/Principal/Quantity [2],[4]   2,032,967
Non-Controlled/Non-Affiliate [Member] | Stake Trade, Inc. (d/b/a Prophet Exchange) [Member] | Preferred Shares Series B IV [Member]    
Headquarters/Industry Sports Betting [1],[16] Sports Betting [2],[17],[22]
Date of Initial Investment Jul. 26, 2023 [1],[16] Jul. 26, 2023 [2],[17],[22]
Cost $ 1,002,153 [1],[16] $ 1,002,153 [2],[17],[22]
Fair Value $ 2,849,871 [1],[16] $ 1,249,993 [2],[17],[22]
Percentage of Net Assets 0.85% [1],[16] 0.61% [2],[17],[22]
Shares/Principal/Quantity 755,041 [3],[16] 755,041 [2],[4],[17],[22]
Non-Controlled/Non-Affiliate [Member] | Xgroup Holdings Inc. (d/b/a Xpoint) [Member]    
Cost [1],[16] $ 1,383,029  
Fair Value [1],[16] $ 2,378,558  
Percentage of Net Assets [1],[16] 0.71%  
Non-Controlled/Non-Affiliate [Member] | Xgroup Holdings Inc. (d/b/a Xpoint) [Member] | Preferred shares, Series A-1 [Member]    
Headquarters/Industry Geolocation Technology [1],[16] Geolocation Technology [2],[17]
Date of Initial Investment Aug. 17, 2022 [1],[16] Aug. 17, 2022 [2],[17]
Cost $ 136,114 [1],[16] $ 136,114 [2],[17]
Fair Value $ 220,201 [1],[16] $ 220,201 [2],[17]
Percentage of Net Assets 0.07% [1],[16] 0.11% [2],[17]
Shares/Principal/Quantity 454 [3],[16] 454 [2],[4],[17]
Non-Controlled/Non-Affiliate [Member] | Xgroup Holdings Inc. (d/b/a Xpoint) [Member] | Series A-1 Warrants [Member]    
Headquarters/Industry Geolocation Technology [1],[16] Geolocation Technology [2],[17]
Date of Initial Investment Aug. 17, 2022 [1],[16] Aug. 17, 2022 [2],[17]
Cost $ 985,180 [1],[16] $ 985,180 [2],[17]
Fair Value $ 1,593,789 [1],[16] $ 1,593,789 [2],[17]
Percentage of Net Assets 0.48% [1],[16] 0.78% [2],[17]
Shares/Principal/Quantity 3,286 [3],[16] 3,286 [2],[4],[17]
Non-Controlled/Non-Affiliate [Member] | Xgroup Holdings Inc. (d/b/a Xpoint) [Member] | Series A Warrants [Member]    
Headquarters/Industry Geolocation Technology [1],[16] Geolocation Technology [2],[17]
Date of Initial Investment Aug. 17, 2022 [1],[16] Aug. 17, 2022 [2],[17]
Cost $ 261,735 [1],[16] $ 261,735 [2],[17]
Fair Value $ 564,568 [1],[16] $ 564,568 [2],[17]
Percentage of Net Assets 0.17% [1],[16] 0.27% [2],[17]
Shares/Principal/Quantity 873 [3],[16] 873 [2],[4],[17]
Non-Controlled/Non-Affiliate [Member] | Residential Homes for Rent, LLC (d/b/a Second Avenue) [Member] | Series A Preferred Stock [Member]    
Headquarters/Industry Real Estate Platform [1],[23] Real Estate Platform [2],[24]
Date of Initial Investment Dec. 23, 2020 [1],[23] Dec. 23, 2020 [2],[24]
Cost $ 1,500,000 [1],[23] $ 1,500,000 [2],[24]
Fair Value $ 1,463,030 [1],[23] $ 654,642 [2],[24]
Percentage of Net Assets 0.44% [1],[23] 0.32% [2],[24]
Shares/Principal/Quantity 150,000 [1],[3],[23] 150,000 [2],[4],[24]
Non-Controlled/Non-Affiliate [Member] | Varo Money, Inc. [Member] | Common Stock [Member]    
Headquarters/Industry Financial Services [1],[6] Financial Services [2],[8]
Date of Initial Investment Aug. 11, 2021 [1],[6] Aug. 11, 2021 [2],[8]
Cost $ 10,005,548 [1],[6] $ 10,005,548 [2],[8]
Fair Value $ 1,079,266 [1],[6] $ 1,618,899 [2],[8]
Percentage of Net Assets 0.32% [1],[6] 0.79% [2],[8]
Shares/Principal/Quantity 1,079,266 [1],[3],[6] 1,079,266 [2],[4],[8]
Non-Controlled/Non-Affiliate [Member] | GrabAGun Digital Holdings Inc. [Member]    
Cost $ 703,703 [1] $ 1,479,535 [2],[25]
Fair Value $ 1,007,082 [1] $ 3,582,083 [2],[25]
Percentage of Net Assets 0.30% [1] 1.74% [2],[25]
Non-Controlled/Non-Affiliate [Member] | GrabAGun Digital Holdings Inc. [Member] | Common Stock [Member]    
Headquarters/Industry E-Commerce Marketplace [1],[21] E-Commerce Marketplace [2],[25],[26]
Date of Initial Investment Nov. 20, 2023 [1],[21] Nov. 20, 2023 [2],[25],[26]
Cost $ 327,887 [1],[21] $ 1,103,719 [2],[25],[26]
Fair Value $ 645,736 [1],[21] $ 3,130,400 [2],[25],[26]
Percentage of Net Assets 0.19% [1],[21] 1.52% [2],[25],[26]
Shares/Principal/Quantity 308,964 [1],[3],[21] 1,040,000 [2],[4],[25],[26]
Non-Controlled/Non-Affiliate [Member] | GrabAGun Digital Holdings Inc. [Member] | Common Warrants, Strike Price $11.50, Expiration Date 7/15/2030 [Member]    
Headquarters/Industry E-Commerce Marketplace [1],[21] E-Commerce Marketplace [2],[25],[26]
Date of Initial Investment Nov. 20, 2023 [1],[21] Nov. 20, 2023 [2],[25],[26]
Cost $ 375,816 [1],[21] $ 375,816 [2],[25],[26]
Fair Value $ 361,346 [1],[21] $ 451,683 [2],[25],[26]
Percentage of Net Assets 0.11% [1],[21] 0.22% [2],[25],[26]
Shares/Principal/Quantity 1,204,488 [1],[3],[21] 1,204,488 [2],[4],[15],[26]
Non-Controlled/Non-Affiliate [Member] | Skillsoft Corp. [Member] | Common Stock [Member]    
Headquarters/Industry Online Education [1],[21] Online Education [2],[26]
Date of Initial Investment Jun. 08, 2021 [1],[21] Jun. 08, 2021 [2],[26]
Cost $ 9,818,428 [1],[21] $ 9,818,428 [2],[26]
Fair Value $ 282,770 [1],[21] $ 456,556 [2],[26]
Percentage of Net Assets 0.08% [1],[21] 0.22% [2],[26]
Shares/Principal/Quantity 49,092 [1],[3],[21] 49,092 [2],[4],[26]
Non-Controlled/Non-Affiliate [Member] | Huntress Labs Inc [Member] | Common Stock [Member]    
Headquarters/Industry [1] Cybersecurity  
Date of Initial Investment [1] Apr. 08, 2026  
Cost [1] $ 229,296  
Fair Value [1] $ 230,738  
Percentage of Net Assets [1] 0.07%  
Shares/Principal/Quantity [1],[3] 15,000  
Non-Controlled/Non-Affiliate [Member] | Orchard Technologies, Inc. [Member]    
Cost $ 12,815,343 [1],[27] $ 12,815,343 [2]
Fair Value $ 80,800 [1],[27] $ 544,249 [2]
Percentage of Net Assets 0.02% [1],[27] 0.27% [2]
Non-Controlled/Non-Affiliate [Member] | Orchard Technologies, Inc. [Member] | Common Stock [Member]    
Headquarters/Industry Real Estate Platform [1],[27] Real Estate Platform [2]
Date of Initial Investment Aug. 09, 2021 [1],[27] Aug. 09, 2021 [2]
Cost $ 12,733,759 [1],[27] $ 3,751,518 [2]
Fair Value [1],[27] [2]
Percentage of Net Assets [1],[27] [2]
Shares/Principal/Quantity 1,627,478 [1],[3],[27] 558,053 [2],[4]
Non-Controlled/Non-Affiliate [Member] | Orchard Technologies, Inc. [Member] | Simple Agreement for Future Equity [Member]    
Headquarters/Industry [2]   Real Estate Platform
Date of Initial Investment [2]   Jan. 31, 2025
Cost [2]   $ 81,584
Fair Value [2]   $ 80,800
Percentage of Net Assets [2]   0.04%
Investment Owned, Balance, Principal Amount [2],[4]   $ 80,800
Non-Controlled/Non-Affiliate [Member] | Orchard Technologies, Inc. [Member] | Series E-1 Preferred Stock [Member]    
Headquarters/Industry [1],[27] New York, NY  
Date of Initial Investment [1],[27] Jan. 31, 2025  
Cost [1],[27] $ 81,584  
Fair Value [1],[27] $ 80,800  
Percentage of Net Assets [1],[27] 0.02%  
Shares/Principal/Quantity [1],[3],[27] 301,380  
Non-Controlled/Non-Affiliate [Member] | Orchard Technologies, Inc. [Member] | Series D Preferred Stock 8% [Member]    
Headquarters/Industry [2]   Real Estate Platform
Date of Initial Investment [2]   Aug. 09, 2021
Cost [2]   $ 3,751,518
Fair Value [2]  
Percentage of Net Assets [2]  
Shares/Principal/Quantity [2],[4]   524,985
Non-Controlled/Non-Affiliate [Member] | Orchard Technologies, Inc. [Member] | Senior Preferred Shares, Series 2 8% [Member]    
Headquarters/Industry [2]   Real Estate Platform
Date of Initial Investment [2]   Aug. 09, 2021
Cost [2]   $ 587,951
Fair Value [2]  
Percentage of Net Assets [2]  
Shares/Principal/Quantity [2],[4]   80,991
Non-Controlled/Non-Affiliate [Member] | Orchard Technologies, Inc. [Member] | Senior Preferred Shares, Series 1 7% [Member]    
Headquarters/Industry [2]   Real Estate Platform
Date of Initial Investment [2]   Jan. 13, 2023
Cost [2]   $ 4,642,772
Fair Value [2]   $ 463,449
Percentage of Net Assets [2]   0.23%
Shares/Principal/Quantity [2],[4]   463,449
Non-Controlled/Non-Affiliate [Member] | PSQ Holdings, Inc. (d/b/a PublicSquare) [Member] | Common warrants, Strike Price $11.50, Expiration Date 7/19/2028 [Member]    
Headquarters/Industry E-Commerce Marketplace [1],[21] E-Commerce Marketplace [2],[26]
Date of Initial Investment Apr. 01, 2021 [1],[21] Apr. 01, 2021 [2],[26]
Cost $ 771,065 [1],[21] $ 771,065 [2],[26]
Fair Value $ 35,921 [1],[21] $ 170,624 [2],[26]
Percentage of Net Assets 0.01% [1],[21] 0.08% [2],[26]
Shares/Principal/Quantity 1,796,037 [1],[3],[21] 1,796,037 [2],[4],[26]
Non-Controlled/Non-Affiliate [Member] | Kinetiq Holdings, LLC [Member] | Common Class A [Member]    
Headquarters/Industry Social Data Platform [1] Social Data Platform [2]
Date of Initial Investment Mar. 30, 2012 [1] Mar. 30, 2012 [2]
Cost [1] [2]
Fair Value $ 22,077 [1] $ 1,875 [2]
Percentage of Net Assets 0.01% [1] 0.01% [2]
Shares/Principal/Quantity 112,374 [1],[3] 112,374 [2],[4],[8]
Non-Controlled/Non-Affiliate [Member] | Trax Ltd. [Member]    
Cost $ 10,005,748 [1],[6],[28] $ 10,005,748 [2],[8]
Fair Value [1],[6],[28] [2],[8]
Percentage of Net Assets [1],[6],[28] [2],[8]
Non-Controlled/Non-Affiliate [Member] | Trax Ltd. [Member] | Common Stock [Member]    
Headquarters/Industry Retail Technology [1],[6],[28] Retail Technology [2],[8]
Date of Initial Investment Jun. 09, 2021 [1],[6],[28] Jun. 09, 2021 [2],[8]
Cost $ 2,781,148 [1],[6],[28] $ 2,781,148 [2],[8]
Fair Value [1],[6],[28] [2],[8]
Percentage of Net Assets [1],[6],[28] [2],[8]
Shares/Principal/Quantity 55,591 [1],[3],[6],[28] 55,591 [2],[4],[8]
Non-Controlled/Non-Affiliate [Member] | Trax Ltd. [Member] | Preferred Stock Investec Series [Member]    
Headquarters/Industry Retail Technology [1],[6],[28] Retail Technology [2],[8]
Date of Initial Investment Jun. 09, 2021 [1],[6],[28] Jun. 09, 2021 [2],[8]
Cost $ 7,224,600 [1],[6],[28] $ 7,224,600 [2],[8]
Fair Value [1],[6],[28] [2],[8]
Percentage of Net Assets [1],[6],[28] [2],[8]
Shares/Principal/Quantity 144,409 [1],[3],[6],[28] 144,409 [2],[4],[8]
Non-Controlled/Non-Affiliate [Member] | Fullbridge, Inc. [Member]    
Cost $ 8,421,364 [1] $ 8,421,364 [2]
Fair Value [1] [2]
Percentage of Net Assets [1] [2]
Non-Controlled/Non-Affiliate [Member] | Fullbridge, Inc. [Member] | Promissory Note 1.47%, Due 11/9/2021 [Member]    
Headquarters/Industry Business Education [1],[29],[30]  Business Education [2],[31],[32]
Date of Initial Investment Mar. 03, 2016 [1],[29],[30] Mar. 03, 2016 [2],[31],[32]
Cost $ 2,270,858 [1],[29],[30] $ 2,270,858 [2],[31],[32]
Fair Value [1],[29],[30] [2],[31],[32]
Percentage of Net Assets [1],[29],[30] [2],[31],[32]
Investment Owned, Balance, Principal Amount $ 2,270,458 [1],[3],[29],[30] $ 2,270,458 [2],[4],[31],[32]
Non-Controlled/Non-Affiliate [Member] | Fullbridge, Inc. [Member] | Common Stock [Member]    
Headquarters/Industry Business Education [1] Business Education [2]
Date of Initial Investment May 13, 2012 [1] May 13, 2012 [2]
Cost $ 6,150,506 [1] $ 6,150,506 [2]
Fair Value [1] [2]
Percentage of Net Assets [1] [2]
Shares/Principal/Quantity 517,917 [1],[3] 517,917 [2],[4]
Non-Controlled/Non-Affiliate [Member] | Treehouse Real Estate Investment Trust, Inc. [Member] | Common Stock [Member]    
Headquarters/Industry Cannabis REIT [1],[11] Cannabis REIT [2]
Date of Initial Investment Sep. 11, 2019 [1],[11] Sep. 11, 2019 [2]
Cost $ 4,919,250 [1],[11] $ 4,919,250 [2]
Fair Value [1],[11] [2]
Percentage of Net Assets [1],[11] [2]
Shares/Principal/Quantity 312,500 [1],[3],[11] 312,500 [2],[4]
Non-Controlled/Non-Affiliate [Member] | CW Opportunity 2 LP [Member] | Class A Interest [Member]    
Headquarters/Industry [2],[8],[12],[33]   AI Infrastructure Fund
Date of Initial Investment [2],[8],[12],[33]   May 07, 2024
Cost [2],[8],[12],[33]   $ 10,384,558
Fair Value [2],[8],[12],[33]   $ 14,659,078
Percentage of Net Assets [2],[8],[12],[33]   7.14%
Investment Owned, Balance, Principal Amount [2],[4],[8],[12],[33]   $ 10,208,114
Non-Controlled/Non-Affiliate [Member] | Learneo, Inc. (f/k/a Course Hero, Inc.) [Member]    
Cost [2]   14,999,972
Fair Value [2]   $ 15,369,348
Percentage of Net Assets [2]   7.49%
Non-Controlled/Non-Affiliate [Member] | Learneo, Inc. (f/k/a Course Hero, Inc.) [Member] | Series C Preferred Stock 8% [Member]    
Headquarters/Industry [2]   Online Education
Date of Initial Investment [2]   Nov. 05, 2021
Cost [2]   $ 9,999,971
Fair Value [2]   $ 9,999,971
Percentage of Net Assets [2]   4.87%
Shares/Principal/Quantity [2],[4]   275,659
Non-Controlled/Non-Affiliate [Member] | Learneo, Inc. (f/k/a Course Hero, Inc.) [Member] | Preferred shares, Series A 8% [Member]    
Headquarters/Industry [2]   Online Education
Date of Initial Investment [2]   Sep. 18, 2014
Cost [2]   $ 5,000,001
Fair Value [2]   $ 5,369,377
Percentage of Net Assets [2]   2.62%
Shares/Principal/Quantity [2],[4]   2,145,509
Non-Controlled/Non-Affiliate [Member] | HL Digital Assets Inc. [Member] | Preferred Shares [Member]    
Headquarters/Industry [2]   Digital Asset Infrastructure
Date of Initial Investment [2]   Sep. 18, 2025
Cost [2]   $ 5,106,143
Fair Value [2]   $ 2,825,085
Percentage of Net Assets [2]   1.38%
Shares/Principal/Quantity [2],[4]   8,000,000
Non-Controlled/Non-Affiliate [Member] | Xgroup Holdings Limited DBAX Point [Member]    
Cost [2],[17]   $ 1,383,029
Fair Value [2],[17]   $ 2,378,558
Percentage of Net Assets [2],[17]   1.16%
Non-Controlled/Non-Affiliate [Member] | Aventine Property Group, Inc. [Member] | Common Stock [Member]    
Headquarters/Industry [2]   Cannabis REIT
Date of Initial Investment [2]   Sep. 11, 2019
Cost [2]   $ 2,580,750
Fair Value [2]   $ 1,187,532
Percentage of Net Assets [2]   0.58%
Shares/Principal/Quantity [2],[4]   312,500
Non-Controlled/Non-Affiliate [Member] | CTN Holdings, Inc. (d/b/a Catona Climate, f/k/a Aspiration Partners, Inc.) [Member]    
Cost [2],[34]   $ 1,283,005
Fair Value [2],[34]  
Percentage of Net Assets [2],[34]  
Non-Controlled/Non-Affiliate [Member] | CTN Holdings, Inc. (d/b/a Catona Climate, f/k/a Aspiration Partners, Inc.) [Member] | Series A Preferred Stock [Member]    
Headquarters/Industry [2],[34]   Carbon Credit Services
Date of Initial Investment [2],[34]   Aug. 11, 2015
Cost [2],[34]   $ 1,001,815
Fair Value [2],[34]  
Percentage of Net Assets [2],[34]  
Shares/Principal/Quantity [2],[4],[34]   540,270
Non-Controlled/Non-Affiliate [Member] | CTN Holdings, Inc. (d/b/a Catona Climate, f/k/a Aspiration Partners, Inc.) [Member] | Preferred shares, Series C-3 [Member]    
Headquarters/Industry [2],[34]   Carbon Credit Services
Date of Initial Investment [2],[34]   Aug. 12, 2019
Cost [2],[34]   $ 281,190
Fair Value [2],[34]  
Percentage of Net Assets [2],[34]  
Shares/Principal/Quantity [2],[4],[34]   24,912
Non-Controlled Affiliate [Member]    
Cost $ 49,604,761 [1],[35] $ 21,609,640 [2],[36]
Fair Value $ 40,218,767 [1],[35] $ 8,207,367 [2],[36]
Percentage of Net Assets 12.02% [1],[35] 4.00% [2],[36]
Non-Controlled Affiliate [Member] | Magnetar Opportunity 2025-4 LP [Member]    
Cost [1],[6],[35],[37] $ 20,015,411  
Fair Value [1],[6],[35],[37] $ 20,406,033  
Percentage of Net Assets [1],[6],[35],[37] 6.10%  
Non-Controlled Affiliate [Member] | Magnetar Opportunity 2025-4 LP [Member] | Class A Interest [Member]    
Headquarters/Industry [1],[6],[35],[37] AI Infrastructure Fund  
Date of Initial Investment [1],[6],[35],[37] Jan. 02, 2026  
Cost [1],[6],[35],[37] $ 5,012,250  
Fair Value [1],[6],[35],[37] $ 5,312,950  
Percentage of Net Assets [1],[6],[35],[37] 1.59%  
Investment Owned, Balance, Principal Amount [3],[6],[35],[37] $ 5,000,000  
Non-Controlled Affiliate [Member] | Magnetar Opportunity 2025-4 LP [Member] | Class B Interest [Member]    
Date of Initial Investment [1],[6],[35],[37] Jun. 03, 2026  
Cost [1],[6],[35],[37] $ 15,003,161  
Fair Value [1],[6],[35],[37] $ 15,093,083  
Percentage of Net Assets [1],[6],[35],[37] 4.51%  
Investment Owned, Balance, Principal Amount [3],[6],[35],[37] $ 15,000,000  
Non-Controlled Affiliate [Member] | CW Opportunity 2 LP [Member] | Class A Interest [Member]    
Headquarters/Industry [1],[6],[35],[38] AI Infrastructure Fund  
Date of Initial Investment [1],[6],[35],[38] May 07, 2024  
Cost [1],[6],[35],[38] $ 7,979,710  
Fair Value [1],[6],[35],[38] $ 12,325,378  
Percentage of Net Assets [1],[6],[35],[38] 3.68%  
Investment Owned, Balance, Principal Amount [3],[6],[35],[38] $ 7,803,267  
Non-Controlled Affiliate [Member] | StormWind, LLC [Member]    
Cost 6,387,741 [1],[35],[39] $ 6,387,741 [2],[36],[40]
Fair Value $ 7,487,356 [1],[35],[39] $ 7,857,367 [2],[36],[40]
Percentage of Net Assets 2.24% [1],[35],[39] 3.83% [2],[36],[40]
Non-Controlled Affiliate [Member] | StormWind, LLC [Member] | Series D Preferred Stock 8% [Member]    
Headquarters/Industry Interactive Learning [1],[35],[39] Interactive Learning [2],[36],[40]
Date of Initial Investment Nov. 26, 2019 [1],[35],[39] Nov. 26, 2019 [2],[36],[40]
Cost $ 257,267 [1],[35],[39] $ 257,267 [2],[36],[40]
Fair Value $ 424,314 [1],[35],[39] $ 435,806 [2],[36],[40]
Percentage of Net Assets 0.13% [1],[35],[39] 0.21% [2],[36],[40]
Shares/Principal/Quantity 329,337 [1],[3],[35],[39] 329,337 [2],[4],[36],[40]
Non-Controlled Affiliate [Member] | StormWind, LLC [Member] | Series C Preferred Stock 8% [Member]    
Headquarters/Industry Interactive Learning [1],[35],[39] Interactive Learning [2],[36],[40]
Date of Initial Investment Jan. 07, 2014 [1],[35],[39] Jan. 07, 2014 [2],[36],[40]
Cost $ 4,000,787 [1],[35],[39] $ 4,000,787 [2],[36],[40]
Fair Value $ 4,582,048 [1],[35],[39] $ 4,760,083 [2],[36],[40]
Percentage of Net Assets 1.37% [1],[35],[39] 2.32% [2],[36],[40]
Shares/Principal/Quantity 2,779,134 [1],[3],[35],[39] 2,779,134 [2],[4],[36],[40]
Non-Controlled Affiliate [Member] | StormWind, LLC [Member] | Preferred shares, Series B 8% [Member]    
Headquarters/Industry Interactive Learning [1],[35],[39] Interactive Learning [2],[36],[40]
Date of Initial Investment Dec. 16, 2011 [1],[35],[39] Dec. 16, 2011 [2],[36],[40]
Cost $ 2,019,687 [1],[35],[39] $ 2,019,687 [2],[36],[40]
Fair Value $ 2,407,756 [1],[35],[39] $ 2,578,473 [2],[36],[40]
Percentage of Net Assets 0.72% [1],[35],[39] 1.26% [2],[36],[40]
Shares/Principal/Quantity 3,279,629 [1],[3],[35],[39] 3,279,629 [2],[4],[36],[40]
Non-Controlled Affiliate [Member] | StormWind, LLC [Member] | Preferred shares, Series A 8% [Member]    
Headquarters/Industry Interactive Learning [1],[35],[39] Interactive Learning [2],[36],[40]
Date of Initial Investment Feb. 25, 2014 [1],[35],[39] Feb. 25, 2014 [2],[36],[40]
Cost $ 110,000 [1],[35],[39] $ 110,000 [2],[36],[40]
Fair Value $ 73,238 [1],[35],[39] $ 83,005 [2],[36],[40]
Percentage of Net Assets 0.02% [1],[35],[39] 0.04% [2],[36],[40]
Shares/Principal/Quantity 366,666 [1],[3],[35],[39] 366,666 [2],[4],[36],[40]
Non-Controlled Affiliate [Member] | Commercial Streaming Solutions Inc. (d/b/a BettorView) [Member] | Preferred Shares, Class A-1 [Member]    
Headquarters/Industry Interactive Media & Services [1],[16] Interactive Media & Services [2],[17],[41]
Date of Initial Investment Mar. 26, 2021 [1],[16] Mar. 26, 2021 [2],[17],[41]
Cost $ 1,004,240 [1],[16] $ 1,004,240 [2],[17],[41]
Fair Value [1],[16] $ 350,000 [2],[17],[41]
Percentage of Net Assets [1],[16] 0.17% [2],[17],[41]
Shares/Principal/Quantity 10,548,522 [1],[3],[16],[35] 10,548,522 [2],[4],[17],[41]
Non-Controlled Affiliate [Member] | Maven Research, Inc. [Member]    
Cost $ 2,217,653 [1],[35] $ 2,217,653 [2],[36]
Fair Value [1],[35] [2],[36]
Percentage of Net Assets [1],[35] [2],[36]
Non-Controlled Affiliate [Member] | Maven Research, Inc. [Member] | Series C Preferred Stock [Member]    
Headquarters/Industry Knowledge Networks [1],[35] Knowledge Networks [2],[36]
Date of Initial Investment Jul. 02, 2012 [1],[35] Jul. 02, 2012 [2],[36]
Cost $ 2,000,447 [1],[35] $ 2,000,447 [2],[36]
Fair Value [1],[35] [2],[36]
Percentage of Net Assets [1],[35] [2],[36]
Shares/Principal/Quantity 318,979 [1],[3],[35] 318,979 [2],[4]
Non-Controlled Affiliate [Member] | Maven Research, Inc. [Member] | Series B Preferred Stock [Member]    
Headquarters/Industry Knowledge Networks [1],[35] Knowledge Networks [2],[36]
Date of Initial Investment Feb. 28, 2012 [1],[35] Feb. 28, 2012 [2],[36]
Cost $ 217,206 [1],[35] $ 217,206 [2],[36]
Fair Value [1],[35] [2],[36]
Percentage of Net Assets [1],[35] [2],[36]
Shares/Principal/Quantity 49,505 [1],[3],[35] 49,505 [2],[4]
Non-Controlled Affiliate [Member] | Curious.com, Inc. [Member] | Common Stock [Member]    
Headquarters/Industry Online Education [1],[35] Online Education [2],[36]
Date of Initial Investment Nov. 22, 2013 [1],[35] Nov. 22, 2013 [2],[36]
Cost $ 12,000,006 [1],[35] $ 12,000,006 [2],[36]
Fair Value [1],[35] [2],[36]
Percentage of Net Assets [1],[35] [2],[36]
Shares/Principal/Quantity 1,135,944 [1],[3],[35] 1,135,944 [2],[4]
Portfolio Investments [Member]    
Cost $ 243,563,967 [1] $ 240,825,785 [2]
Fair Value $ 377,196,404 [1] $ 225,511,505 [2]
Percentage of Net Assets 112.70% [1] 109.84% [2]
[1] All portfolio investments are non-control/non-affiliated and non-income-producing, unless otherwise identified. As of September 30, 2026, all of the Company’s investments were non-controlled. Equity investments may be subject to lock-up restrictions upon their initial public offering (“IPO”). Preferred dividends are generally only payable when declared and paid by the portfolio company’s board of directors. Neostellar Capital Corp.’s (the “Company’s”, or “Neostellar Capital’s”) directors and officers, and the members and investment professionals of Neostellar Advisors LLC, as applicable, may serve on the board of directors of the Company’s portfolio investments. (Refer to “Note 3—Related-Party Arrangements”). All portfolio investments are considered Level 3 and valued using significant unobservable inputs, unless otherwise noted. (Refer to “Note 4—Investments at Fair Value”). All of the Company’s portfolio investments are restricted as to resale, unless otherwise noted, and were valued at fair value as determined in good faith by the Company’s Board of Directors. (Refer to “Note 2—Significant Accounting Policies—Investments at Fair Value”).
[2] All portfolio investments are non-control/non-affiliated and non-income-producing, unless otherwise identified. As of December 31, 2025, all of the Company’s investments were non-controlled. Equity investments may be subject to lock-up restrictions upon their initial public offering (“IPO”). Preferred dividends are generally only payable when declared and paid by the portfolio company’s board of directors. Neostellar Capital Corp.’s (the “Company’s”, or “Neostellar Capital’s”) directors and officers, and the members and investment professionals of Neostellar Advisors LLC, as applicable, may serve on the board of directors of the Company’s portfolio investments. (Refer to “Note 3—Related-Party Arrangements”). All portfolio investments are considered Level 3 and valued using significant unobservable inputs, unless otherwise noted. (Refer to “Note 4—Investments at Fair Value”). All of the Company’s portfolio investments are restricted as to resale, unless otherwise noted, and were valued at fair value as determined in good faith by the Company’s Board of Directors. (Refer to “Note 2—Significant Accounting Policies—Investments at Fair Value”).
[3] Represents the respective number of shares, principal amount, initial or remaining fund investment, or membership interest as of September 30, 2026. For fund investments, the initial committed amount may be reduced by distributions classified as Return of Capital.
[4] Represents the respective number of shares, principal amount, initial or remaining fund investment, or membership interest as of December 31, 2025. For fund investments, the initial committed amount may be reduced by distributions classified as Return of Capital.
[5] ARK Type One Deep Ventures Fund LLC is an investment fund for which the Class A Interest is solely invested in the Series A-2 Preferred Shares of OpenAI Group PBC. Neostellar Capital Corp. is invested in the Series A-2 Preferred Shares of OpenAI Group PBC through its investment in the Class A Interest of ARK Type One Deep Ventures Fund LLC. ARK Type One Deep Ventures Fund LLC charges a 1% management fee per year, and an incentive fee of 10%, not subject to a hurdle rate. The management fees will adjust the cost of Neostellar Capital’s investment in the fund.
[6] Indicates assets that Neostellar Capital Corp. believes do not represent “qualifying assets” under Section 55(a) of the Investment Company Act of 1940, as amended (the “1940 Act”). Of the Company’s total investments as of September 30, 2026,
[7] ARK Type One Deep Ventures Fund LLC is an investment fund for which the Class A Interest is solely invested in the Series A-2 Preferred Shares of OpenAI Group PBC. Neostellar Capital Corp. is invested in the Series A-2 Preferred Shares of OpenAI Group PBC through its investment in the Class A Interest of ARK Type One Deep Ventures Fund LLC. ARK Type One Deep Ventures Fund LLC charges a 1% management fee per year, and an incentive fee of 10%, not subject to a hurdle rate. The management fees will adjust the cost of Neostellar Capital’s investment in the fund.
[8] Indicates assets that Neostellar Capital Corp. believes do not represent “qualifying assets” under Section 55(a) of the Investment Company Act of 1940, as amended (the “1940 Act”). Of the Company’s total investments as of December 31, 2025, 32.70% of its total investments are non-qualifying assets, excluding cash and short-term US treasuries.
[9] IH10, LLC’s sole portfolio asset is interest in the Series B Preferred Shares of VAST Data, Ltd. through a special purpose vehicle (“SPV”). Neostellar Capital is invested in the Series B Preferred Shares of VAST Data, Ltd. through its investment in the Membership Interest of IH10, LLC. IH10, LLC does not charge a management fee or an incentive fee; however, Neostellar Capital has prepaid operating expenses.
[10] IH10, LLC’s sole portfolio asset is interest in the Series B Preferred Shares of VAST Data, Ltd. through an SPV. Neostellar Capital is invested in the Series B Preferred Shares of VAST Data, Ltd. through its investment in the Membership Interest of IH10, LLC. IH10, LLC does not charge a management fee or an incentive fee; however, Neostellar Capital has prepaid operating expenses.
[11] Investment is income-producing.
[12] Investment is income-producing.
[13] On July 10, 2026, the Company exercised its previously held 86,076 Common Warrants in Shogun Enterprises, Inc. (d/b/a Hearth) at an exercise price of $0.01 per share and received 86,076 Common Shares.
[14] Neostellar Capital’s investment in the Class A Common Shares of Plaid Inc. was made through 1789 Capital Nirvana II LP, an SPV in which Neostellar Capital is the Sole Limited Partner. 1789 Capital Nirvana II LP is a wholly owned subsidiary of Neostellar Capital. Neostellar Capital paid a 7% origination fee at the time of investment.
[15] Neostellar Capital’s investment in the Class A Common Shares of Plaid Inc. was made through 1789 Capital Nirvana II LP, an SPV in which Neostellar Capital is the Sole Limited Partner. 1789 Capital Nirvana II LP is a wholly owned subsidiary of Neostellar Capital. Neostellar Capital paid a 7% origination fee at the time of investment.
[16] Neostellar Capital’s investments in Commercial Streaming Solutions Inc. (d/b/a BettorView), EDGE Markets, Inc., Xgroup Holdings Inc. (d/b/a Xpoint), and Stake Trade, Inc. (d/b/a Prophet Exchange) are held through Neostellar Capital’s wholly owned subsidiary, SuRo Capital Sports, LLC (“SuRo Capital Sports”).
[17] Neostellar Capital’s investments in Commercial Streaming Solutions Inc. (d/b/a BettorView), EDGE Markets, Inc., Xgroup Holdings Inc. (d/b/a Xpoint), and Stake Trade, Inc. (d/b/a Prophet Exchange) are held through Neostellar Capital’s wholly owned subsidiary, SuRo Capital Sports, LLC (“SuRo Capital Sports”).
[18] On July 1, 2026, Neutron Holdings, Inc. (d/b/a Lime) began trading on the Nasdaq Global Select Market following the pricing of its initial public offering (“IPO”). In connection with the IPO, the Company’s previously held Junior Preferred Shares, Series 1-D, and Junior Preferred Convertible Note converted into Common Shares. The Company also received Common Shares upon settlement of its previously held Common Warrants. The Company anticipates the shares will be registered and freely tradable in December 2026.
[19] Neostellar Capital’s investments in True Global Ventures 4 Plus Pte Ltd are held through Neostellar Capital’s wholly owned subsidiary, GSVC SVDS Holdings, Inc. True Global Ventures 4 Plus Pte Ltd charges a 1.8% management fee and a 22.5% incentive fee, subject to an annual 5% IRR hurdle rate. The management fees may adjust the cost of Neostellar Capital’s investment in the fund.
[20] Neostellar Capital’s investments in True Global Ventures 4 Plus Pte Ltd are held through Neostellar Capital’s wholly owned subsidiary, GSVC SVDS Holdings, Inc. True Global Ventures 4 Plus Pte Ltd charges a 1.8% management fee and a 22.5% incentive fee, subject to an annual 5% IRR hurdle rate. The management fees may adjust the cost of Neostellar Capital’s investment in the fund.
[21] Denotes an investment considered Level 1 or Level 2 and valued using observable inputs. Refer to “Note 4—Investments at Fair Value”.
[22] On October 8, 2025, Stake Trade, Inc. (d/b/a Prophet Exchange) completed its Series B financing. As a result of the financing, the SAFE Note which Neostellar Capital previously held in Stake Trade, Inc. (d/b/a Prophet Exchange) converted into Series B-IV Preferred shares.
[23] Neostellar Capital’s investment in Residential Homes for Rent, LLC (d/b/a Second Avenue) is held through Neostellar Capital’s wholly owned subsidiary, GSVC AV Holdings, Inc.
[24] Neostellar Capital’s investment in Residential Homes for Rent, LLC (d/b/a Second Avenue) is held through Neostellar Capital’s wholly owned subsidiary, GSVC AV Holdings, Inc.
[25] On July 15, 2025, Colombier Acquisition Corp. II (“Colombier”) stockholders approved a business combination with GrabAGun Digital Holdings Inc. and related proposals at a special meeting. On July 16, 2025, GrabAGun Digital Holdings, Inc. announced that it had consummated the business combination with Colombier pursuant to a merger agreement between the parties, creating the resultant combined company GrabAGun Digital Holdings, Inc. As of December 31, 2025, Neostellar Capital’s shares of GrabAGun Digital Holdings, Inc. Common shares are subject to certain restrictions on transfer, while the GrabAGun Digital Holdings, Inc. warrants are freely tradable.
[26] Denotes an investment considered Level 1 or Level 2 and valued using observable inputs. Refer to “Note 4—Investments at Fair Value”.
[27] On January 27, 2026, the Simple Agreement for Future Equity (“SAFE”) Note previously held by the Company in Orchard Technologies, Inc. converted into Series E-1 Preferred Shares. In connection with the same transaction, the Company’s previously held Series D Preferred Shares, Series 1 Senior Preferred Shares, and Series 2 Senior Preferred Shares were converted into Common Shares.
[28] On June 17, 2026, Trax Ltd. was placed into voluntary liquidation in the Cayman Islands pursuant to a special resolution passed by its shareholders. Trax Ltd. subsequently entered official liquidation, with an official liquidator appointed to conduct the winding up of the company.
[29] As of September 30, 2026, the investments noted had been placed on non-accrual status.
[30] On November 9, 2021, Fullbridge, Inc.’s obligations under its financing arrangements with the Company became past due.
[31] As of December 31, 2025, the investments noted had been placed on non-accrual status.
[32] On November 9, 2021, Fullbridge, Inc.’s obligations under its financing arrangements with the Company became past due.
[33] CW Opportunity 2 LP is a special purpose vehicle (“SPV”) for which the Class A Interest is solely invested in the Class A Common Shares of CoreWeave, Inc. Neostellar Capital is invested in the Class A Common Shares of CoreWeave, Inc. through its investment in the Class A Interest of CW Opportunity 2 LP. On March 28, 2025, CoreWeave, Inc. completed an IPO and the Series C Preferred Shares converted to Class A Common Shares. Prior to the IPO, Neostellar Capital was invested in the Series C Preferred Shares of CoreWeave, Inc. through its investment in the Class A Interest of CW Opportunity 2 LP. Additionally, prior to the IPO, the Series C Preferred Shares of CoreWeave, Inc. accrued a 10% per annum dividend, paid quarterly in cash or in-kind. CW Opportunity 2 LP does not charge a management fee but does charge an incentive fee of 20%, subject to an annual 15% IRR hurdle rate. During the year ended December 31, 2025, Neostellar Capital received distributions as part of its investment in CW Opportunity 2 LP. The distributions represented approximately 31.9% of the initial investment in CW Opportunity 2 LP. As of December 31, 2025, Neostellar Capital retains approximately 68.1% of its investment in CW Opportunity 2 LP.
[34] On March 30, 2025, CTN Holdings, Inc. (d/b/a Catona Climate) filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware. On June 5, 2025, the US Bankruptcy Court for the District of Delaware approved the sale of the remaining assets of CTN Holdings, Inc. On August 7, 2025, CTN Holdings, Inc. (d/b/a Catona Climate) converted its bankruptcy filing from Chapter 11 reorganization to Chapter 7 liquidation.
[35] “Affiliate Investments” are investments in those companies that are “Affiliated Companies” of Neostellar Capital, as defined in the 1940 Act. In general, a company is deemed to be an “Affiliate” of Neostellar Capital if Neostellar Capital beneficially owns, directly or indirectly, between 5% and 25% of the voting securities (i.e., securities with the right to elect directors) of such company. “Control Investments” are investments in those companies that are “Controlled Companies” of Neostellar Capital Corp., as defined in the 1940 Act. In general, under the 1940 Act, the Company would “Control” a portfolio company if the Company beneficially owns, directly or indirectly, more than 25% of its outstanding voting securities (i.e., securities with the right to elect directors) and/or had the power to exercise control over the management or policies of such portfolio company. For the Schedule of Investments In, and Advances To, Affiliates, as required by SEC Regulation S-X, Rule 12-14, refer to “Note 4—Investments at Fair Value.”
[36] “Affiliate Investments” are investments in those companies that are “Affiliated Companies” of Neostellar Capital, as defined in the 1940 Act. In general, a company is deemed to be an “Affiliate” of Neostellar Capital if Neostellar Capital beneficially owns, directly or indirectly, between 5% and 25% of the voting securities (i.e., securities with the right to elect directors) of such company. For the Schedule of Investments In, and Advances To, Affiliates, as required by SEC Regulation S-X, Rule 12-14, refer to “Note 4—Investments at Fair Value”.
[37] Magnetar Opportunity 2025-4 LP is an SPV for which the Class A Interest and Class B Interest are invested in the Series B Preferred Shares of TensorWave Inc. Magnetar Opportunity 2025-4 LP does not charge a management fee but does charge an incentive fee of 20%, subject to an annual 15% IRR hurdle rate. Magnetar Opportunity 2025-4 LP is deemed an “affiliated person” of the Company as of July 15, 2026 because the SPV is managed by an affiliate of Magnetar, which jointly owns and controls the Adviser. Refer to “Note 3—Related-Party Arrangements.”
[38] CW Opportunity 2 LP is an SPV for which the Class A Interest is solely invested in the Class A Common Shares of CoreWeave, Inc. Neostellar Capital is invested in the Class A Common Shares of CoreWeave, Inc. through its investment in the Class A Interest of CW Opportunity 2 LP. CW Opportunity 2 LP does not charge a management fee but does charge an incentive fee of 20%, subject to an annual 15% IRR hurdle rate. During the quarter ended September 30, 2026, Neostellar Capital received distributions as part of its investment in CW Opportunity 2 LP. The distributions represented approximately 3.8% of the initial investment in CW Opportunity 2 LP. As of September 30, 2026, Neostellar Capital retains approximately 52.1% of its investment in CW Opportunity 2 LP. CW Opportunity 2 LP is deemed an “affiliated person” of the Company as of July 15, 2026 because the SPV is managed by an affiliate of Magnetar, which jointly owns and controls the Adviser. Refer to “Note 3—Related-Party Arrangements.”
[39] Neostellar Capital’s investments in StormWind, LLC are held through Neostellar Capital’s wholly owned subsidiary, GSVC SW Holdings, Inc.
[40] Neostellar Capital’s investments in StormWind, LLC are held through Neostellar Capital’s wholly owned subsidiary, GSVC SW Holdings, Inc.
[41] On March 21, 2025, Commercial Streaming Solutions, Inc. (d/b/a BettorView) merged with FSG Digital, Inc. (d/b/a JefeBet). As a result of the merger, the SAFE Note which Neostellar Capital previously held in Commercial Streaming Solutions, Inc. (d/b/a BettorView) converted into Class A-1 Preferred shares.