| Schedule of financial highlights |
| Schedule of financial highlights | |
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Six Months Ended June 30, | |
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2024 | | |
2023 | |
| PER COMMON SHARE OPERATING PERFORMANCE | |
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| Net asset value, beginning of period | |
$ | 3.51 | | |
$ | 7.44 | |
| Net investment income (loss) (1) | |
| (0.06 | ) | |
| 0.04 | |
| Net realized gains from investment in GCIF (1) | |
| — | | |
| — | |
| Net unrealized appreciation (depreciation) from investment in GCIF (2) | |
| (0.01 | ) | |
| (0.06 | ) |
| Net decrease resulting from operations | |
| (0.07 | ) | |
| (0.02 | ) |
| Distributions to common shareholders | |
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| | |
| Distributions from net investment income (3) | |
| — | | |
| (0.06 | ) |
| Distributions representing return of capital (3) | |
| (1.71 | ) | |
| (3.05 | ) |
| Net decrease resulting from distributions | |
| (1.71 | ) | |
| (3.11 | ) |
| Net asset value, end of period | |
$ | 1.73 | | |
$ | 4.31 | |
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| INVESTMENT RETURNS | |
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| Total investment return-net asset value (4) | |
| (2.12 | )% | |
| (0.61 | )% |
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| RATIOS/SUPPLEMENTAL DATA | |
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| Net assets, end of period | |
$ | 2,998,435 | | |
$ | 7,489,274 | |
| Average net assets (5) | |
$ | 5,651,494 | | |
$ | 10,700,957 | |
| Common Shares outstanding, end of period | |
| 1,736,284 | | |
| 1,736,284 | |
| Weighted average Common Shares outstanding | |
| 1,736,284 | | |
| 1,736,284 | |
| Ratios-to-average net assets: (5) (6) | |
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| Total operating expenses | |
| 2.33 | % | |
| 0.63 | % |
| Net expenses | |
| 2.33 | % | |
| 0.63 | % |
| Net investment income (loss) | |
| (1.71 | )% | |
| 0.72 | % |
| (1) | The per Common Share data was derived by using the weighted average Common Shares outstanding during the
period presented. |
| (2) | The amounts shown at this caption are the balancing figures derived from the other figures in the schedule.
The amounts shown at this caption for a Common Share outstanding throughout the period may not agree with the change in the aggregate
gains and losses in portfolio securities for the period because of the timing of sales of the Company’s Common Shares in relation
to fluctuating market values for the portfolio. |
| (3) | The per Common Share data for distributions is the actual amount of distributions paid or payable per
Common Share outstanding during the entire period; distributions per Common Share are rounded to the nearest $0.01. For income tax purposes,
distributions made to shareholders are reported as ordinary income, capital gains, non-taxable return of capital or a combination thereof,
based on taxable income calculated in accordance with income tax regulations which may differ from amounts determined under GAAP. The
tax character of distribution shown above is an estimate since the exact amount cannot be determined at this point. The final determination
of the tax character of distributions will not be made until we file our tax return. |
| (4) | Total investment return-net asset value is a measure of the change in total value for shareholders who
held the Company’s Common Shares at the beginning and end of the period, including distributions declared during the period. Total
investment return-net asset value is based on (i) net asset value per share on the first day of the period, (ii) the net asset value per
share on the last day of the period, plus any shares issued in connection with the reinvestment of monthly distributions and (iii) distributions
payable relating to the ownership of shares, if any, on the last day of the period. The total investment return-net asset value calculation
assumes that distributions are reinvested in accordance with the Company’s distribution reinvestment plan, net of sales load, on
each monthly distribution payment date. Because there is no public market for the Company’s shares, the terminal market value per
share is assumed to be equal to net asset value per share on the last day of the period presented. Investment performance is presented
without regard to sales load that may be incurred by shareholders in the purchase of the Company’s Common Shares. The Company’s
performance changes over time and currently may be different than that shown above. Past performance is no guarantee of future results. |
| (5) | The computation of average net assets during the period is based on averaging the amount on the first
day of the first month of the period and the last day of each month during the period. |
| (6) | The ratios-to-average net assets do not include any proportionate allocation of income and expenses incurred
at the Master Fund. The Master Fund’s total expenses-to-average net assets for the six months ended June 30, 2024 and June 30,
2023, were 4.23% and 2.23% respectively. |
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