XML 28 R18.htm IDEA: XBRL DOCUMENT v3.23.1
Investments and Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2023
Investments and Fair Value Measurements [Abstract]  
Investment Portfolio at Cost and Fair Value

The composition of the Company’s investment portfolio at cost and fair value as of March 31, 2023 was as follows:
 
   
March 31, 2023
  
   
Amortized
Cost
    
Fair
value
    
% of Total
Investments
at Fair
Value
  
First lien debt
  
$
94,622,339
    
$
93,651,260
      
100.00
%
Total investments
  
$
94,622,339
    
$
93,651,260
      
100.00
%
 

The industry composition of investments based on fair value as of March 31, 2023 was as follows:
 
   
March 31, 2023
  
Services: Business
    
13.38
%
High Tech Industries
    
10.77
  
Banking, Finance, Insurance & Real Estate
    
10.56
  
Capital Equipment
    
7.14
  
Automotive
    
6.10
  
Media: Broadcasting & Subscription
    
5.56
  
Aerospace and Defense
    
5.21
  
Healthcare & Pharmaceuticals
    
5.08
  
Media: Advertising, Printing & Publishing
    
5.08
  
Containers, Packaging & Glass
    
4.69
  
Consumer Goods: Non-Durable
    
4.30
  
Services: Consumer
    
3.39
  
Transportation: Cargo
    
3.00
  
Utilities: Electric
    
2.98
  
Retail
    
2.94
  
Chemicals, Plastics & Rubber
    
2.09
  
Beverage, Food and Tobacco
    
1.05
  
Hotel, Gaming & Leisure
    
1.04
  
Energy: Electricity
    
1.03
  
Construction & Building
    
1.02
  
Metals & Mining
    
1.00
  
Consumer Goods: Durable
    
0.99
  
Environmental Industries
    
0.97
  
Transportation: Consumer
    
0.63
  
Total
    
100.00
%


The geographic composition of investments at cost and fair value was as follows:
 
   
March 31, 2023
  
   
Amortized
Cost
    
Fair
Value
    
% of Total
Investments
at
Fair Value
    
Fair
Value
as % of
Net
Assets
  
United States
  
$
88,860,215
    
$
87,872,186
      
93.83
%
    
42.65
%
Luxembourg
    
2,873,339
      
2,912,325
      
3.11
      
1.41
  
Canada
    
1,892,520
      
1,885,877
      
2.01
      
0.92
  
Netherlands
    
996,265
      
980,872
      
1.05
      
0.48
  
Total
  
$
94,622,339
    
$
93,651,260
      
100.00
%
    
45.46
%
Fair Value Hierarchy of Investments

The following table presents the fair value hierarchy of investments as of March 31, 2023, categorized by the ASC 820 valuation hierarchy, as previously described:

   
March 31, 2023
  
Assets
  
Level 1
    
Level 2
    
Level 3
    
Total
  
First Lien Debt
  
$
—
    
$
93,651,260
    
$
—
    
$
93,651,260
  
Total investments
  
$
—
    
$
93,651,260
    
$
—
    
$
93,651,260