as of December 31, 2025
| Holdings | Fair Value | Cost | Asset Type | Industry |
|---|---|---|---|---|
| MSILF Government Portfolio | $3,071,939 | $3,071,939 | Cash & Money Markets | Cash & Money Markets |
| United States Treasury Bill | $8,998,380 | $8,999,155 | — | Sovereign |
| Dutch Gold Honey (Common Stock) | $370,297 | $100,000 | Equities (Private, Common) | Food & Tobacco |
| Dutch Gold Honey (Secured Second Lien Debt) | $2,020,433 | $2,000,000 | Direct Lending (Floating Rate) | Food & Tobacco |
| Flexible Technology Solutions (Preferred Stock) | $250,000 | $250,000 | Equities (Private, Preferred) | Other Accounting Services |
| Flexible Technology Solutions (Secured Second Lien Debt) | $1,000,000 | $1,000,000 | Direct Lending (Fixed Rate) | Other Accounting Services |
| Nielsen-Kellerman (Secured First Lien Debt) | $1,409,924 | $1,368,858 | Direct Lending (Floating Rate) | Electronics |
| Nielsen-Kellerman (Preferred Stock) | $3,229 | $3,009 | Equities (Private, Preferred) | Electronics |
| Nielsen-Kellerman (Preferred Stock) | $674,153 | $628,133 | Equities (Private, Preferred) | Electronics |
| Detroit Defense (Preferred Stock) | $931,218 | $1,038,534 | Equities (Private, Common) | Aerospace & Defense |
| Detroit Defense (Secured First Lien Debt) | $3,661,466 | $3,661,466 | Direct Lending (Floating Rate) | Aerospace & Defense |
| Smart Chemical Solutions (Preferred Stock) | $2,624 | $2,990 | Equities (Private, Common) | Business/Consumer Services |
| Smart Chemical Solutions (Preferred Stock) | $538,985 | $614,160 | Equities (Private, Common) | Business/Consumer Services |
| Smart Chemical Solutions (Secured First Lien Debt) | $1,625,524 | $1,589,823 | Direct Lending (Floating Rate) | Business/Consumer Services |
| US Dollars | $50,263 | $50,263 | Cash & Money Markets | Cash & Money Markets |
| Vet's Choice Radiology (Secured First Lien Debt) | $2,268,324 | $2,250,000 | Direct Lending (Floating Rate) | Healthcare, Education & Childcare |
| Viron International (Common Stock) | $— | $1,717 | Equities (Private, Common) | Diversified/Conglomerate Manufacturing |
| Viron International (Secured First Lien Debt) | $2,052,783 | $2,042,500 | Direct Lending (Floating Rate) | Diversified/Conglomerate Manufacturing |
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