v3.26.3
Statements of Assets and Liabilities - USD ($)
Sep. 30, 2026
Dec. 31, 2025
Investments    
Fair Value $ 162,554,122 [1],[2],[3] $ 132,220,501 [4],[5],[6]
Cash and cash equivalents 10,292,687 16,338,381
Interest receivable 16,017,810 11,531,821
Receivable from sale of investments 0 3,750,000
Prepaid expenses 30,626 83,272
Total assets 188,895,245 163,923,975
Liabilities    
Management fees payable 761,283 623,305
Incentive fees payable 2,621,990 2,780,956
Accrued audit and tax fees 247,334 224,000
Accrued expenses and other liabilities 202,518 64,045
Payable for share repurchases 3,661,366  
Distributions payable 80,256 3,580,157
Total liabilities 7,574,747 7,272,463
Commitments and contingencies (Note 6)
Net assets    
Common shares, par value $0.01 per share, unlimited shares authorized (5,006,506 and 4,364,449 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively) 50,065 43,644
Paid-in-capital in excess of par value 143,026,509 121,085,674
Total distributable earnings (losses) 31,119,643 29,472,955
Net assets attributable to common shareholders 174,196,217 150,602,273
Incentive allocation attributable to the Investment Adviser 7,124,281 6,049,239
Total net assets 181,320,498 156,651,512
Total liabilities and net assets $ 188,895,245 $ 163,923,975
Net asset value per share attributable to common shareholders [7] $ 34.79 $ 34.51
Investment, Noncontrolled, affiliated Issuer [Member]    
Investments    
Fair Value $ 73,859,656 [1],[3] $ 40,823,403
Investment, non-controlled, non-affiliated investments    
Investments    
Fair Value $ 88,694,466 $ 91,397,098
[1] All investments are domiciled in the United States unless otherwise noted.
[2] Securities exempt from registration under the Securities Act (as defined in Note 1), and are deemed to be “restricted securities.” As of September 30, 2026, the aggregate fair value of these securities is $162.6 million or 89.7% of the Company’s net assets.
[3] Unless otherwise indicated, these investments were valued using unobservable inputs and are considered Level 3 investments.
[4] All investments are domiciled in the United States unless otherwise noted.
[5] Securities exempt from registration under the Securities Act (as defined in Note 1), and are deemed to be “restricted securities.” As of December 31, 2025, the aggregate fair value of these securities is $132.2 million or 84.4% of the Company’s net assets.
[6] Unless otherwise indicated, these investments were valued using unobservable inputs and are considered Level 3 investments.
[7] Calculated using net assets attributable to common shareholders