DERIVATIVE INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Breakdown of derivatives outstanding

The following is a breakdown of the derivatives outstanding as of December 31, 2025 and December 31, 2024:

	December 31, 2025							December 31, 2024
			Fair Value				Remaining			Fair Value				Remaining
Contract Type	Notional1		Asset2		Liability3		Maturity (years)	Notional1		Asset2		Liability3		Maturity (years)
5-year Treasury Futures	$	(211,805)	$	737	$	—	0.25 years	$	(153,049)	$	715	$	—	0.25 years

1    Shown as a negative number when the position is sold short.

2     Shown in Other assets in the accompanying Consolidated Statements of Financial Condition.

3    Shown in Accounts payable, accrued expenses, and other liabilities in the accompanying Consolidated Statements of Financial Condition.

Gains and losses on derivatives

	Year Ended
	December 31, 2025				December 31, 2024				December 31, 2023
Contract Type	Unrealized Appreciation/(Depreciation)		Realized Gain/(Loss)		Unrealized Appreciation/(Depreciation)		Realized Gain/(Loss)		Unrealized Appreciation/(Depreciation)		Realized Gain/(Loss)
5-year Treasury Futures	$	23	$	(3,956)	$	1,344	$	(51)	$	(699)	$	834