Financial Highlights (Tables)

9 Months Ended

Sep. 30, 2024

The following is a schedule of financial highlights for the nine months ended September 30, 2024 and 2023:

	For the nine months ended September 30,
	2024			2023
Per share data:
Net asset value at beginning of period	$	24.78		$	25.21
Net investment income (loss) ⁽¹⁾		1.96			2.24
Net realized and unrealized gain (loss)⁽¹⁾		(1.09	)		0.02
Net increase (decrease) in net assets resulting from operations⁽¹⁾		0.87			2.26
Stockholder distributions⁽²⁾		(1.38	)		(1.02	)
Dividend reinvestment plan distributions⁽²⁾		(1.06	)		(1.02	)
Other ⁽³⁾		1.06			0.58
Net asset value at end of period	$	24.27		$	26.01
Net assets at end of period	$	217,589,070		$	196,713,481
Shares outstanding at end of period		8,964,250			7,563,464
Total return ⁽⁴⁾		6.81	%		11.67	%
Ratio/S upplemental data:
Ratio of expenses to average net assets before incentive fees and waivers⁽⁵⁾		10.36	%		11.67	%
Ratio of expenses to average net assets after incentive fees and before waivers⁽⁵⁾		11.92	%		13.80	%
Ratio of expenses to average net assets after incentive fees and waivers⁽⁵⁾		11.36	%		12.93	%
Ratio of net investment income (loss) to average net assets before incentive fees and waivers⁽⁵⁾		11.92	%		13.54	%
Ratio of net investment income (loss) to average net assets after incentive fees and before waivers⁽⁵⁾		10.35	%		11.41	%
Ratio of net investment income (loss) to average net assets after incentive fees and waivers⁽⁵⁾		10.91	%		12.28	%
Portfolio turnover⁽⁶⁾		6.46	%		4.59	%

(1)

The per share data was derived by using the weighted average shares outstanding during the period presented.

(2)

Management monitors available taxable earnings, including net investment income and realized capital gains, to determine if a tax return of capital may occur for the year. To the extent the Company’s taxable earnings fall below the total amount of the Company’s distributions for that fiscal year, a portion of those distributions may be deemed a tax return of capital to the Company’s stockholders. The tax character of distributions will be determined at the end of the fiscal year.

(3)

Includes the impact of different share amounts used in calculating per share data as a result of calculating certain per share data based on weighted average shares outstanding during the period and certain per share data based on shares outstanding as of a period end or transaction date.

(4)

Total return is calculated as the change in NAV per share during the period, divided by the beginning NAV per share and assumes reinvestment of dividends at NAV. Total return is not annualized.

(5)

Ratios are annualized for periods less than one year. To the extent incentive fees and waivers are included within the ratio, they are not annualized.

(6)

Ratio is not annualized.