ADDED
The Registrant had 2,000,560 shares of common stock, $0.001 par value, outstanding as of December 11, 2025.
The management team seeks to achieve this objective primarily through making loans and private equity investments in privately-held companies.
As of September 30, 2025, the Company s asset coverage was 207.8% after giving effect to leverage and therefore the Company s asset coverage was greater than 200%, the minimum asset coverage requirement applicable presently to the Company under the 1940 Act.
The Company has invested in its affiliate, NVTN LLC, which is a restaurant concept with locations throughout the US, mostly in budget friendly tourist destinations.
Human Capital Resources As of September 30, 2025, the internalized management team consists of 4 investment professionals and 7 employees/consultants overall.
5 We are exposed to risks associated with changes in interest rates on loans under our credit facility and loans to our portfolio companies, which bear interest based on SOFR.
Our investment in NSG, which comprises 15.3% of our assets, is subject to volatility due to capital markets and the U.S.
economy generally, as well as evolving regulatory requirements.
6 Risks Related to the Life Insurance and Annuities Business of NSG Assumptions regarding policyholder behavior may be incorrect, requiring NSG to increase its reserves.
Name of Portfolio Company Sector Security Owned Maturity Interest Rate (1) Principal Due at Maturity Fair Value % of Net Assets Adamas Trust, Inc.
REMOVED
The Registrant had 2,019,778 shares of common stock, $0.001 par value, outstanding as of December 16, 2024.
The management team seeks to achieve this objective primarily through making loans, private equity investments in privately-held companies.
1 As of September 30, 2024, the Company s asset coverage was 216.8% after giving effect to leverage and therefore the Company s asset coverage was greater than 200%, the minimum asset coverage requirement applicable presently to the Company under the 1940 Act.
Human Capital Resources As of September 30, 2024, the internalized management team consists of 3 investment professionals and 6 employees/consultants overall.
We are exposed to risks associated with changes in interest rates on loans under our credit facility and loans to our portfolio companies, which bear interest based on SOFR or LIBOR.
Risks Related to the Life Insurance and Annuities Business of NSG A ssumptions regarding policyholder behavior may be incorrect, requiring NSG to increase its reserves.
Name of Portfolio Company Sector Security Owned Maturity Interest Rate (1) Par Amount/Shares/Units Fair Value % of Net Assets All Around Roustabout, LLC Energy: Oil Gas Senior Secured First Lien Term Loan C 8/31/2026 $ 350,000 $ 350,000 0.2 % Altisource S.A.R.L.
Services: Business Senior Secured First Lien Term Loan B 4/30/2025 5.00 % 14,004,684 9,565,199 6.0 % Altisource S.A.R.L.
Services: Business Equity 833,152 - 0.0 % CB L Associates Holdco I, LLC Real Estate First Lien Term Loans 11/1/2025 2.75 % 5,384,063 5,034,099 3.1 % Chimera Investment Corp.
Real Estate Preferred Equity 105,480 2,561,054 1.6 % Chimera Investment Corp.