FINANCIAL HIGHLIGHTS

3 Months Ended

Mar. 31, 2024

NOTE 11 — FINANCIAL HIGHLIGHTS

The following presents financial highlights for the three months ended March 31, 2024 and 2023:

	For the three months ended
	March 31, 2024			March 31, 2023
Per share data:
Net asset value at beginning of period	$	13.77		$	13.91
Net investment income (loss) ⁽¹⁾		(0.01	)		0.22
Net realized and unrealized gains/(losses) on investments ⁽¹⁾		0.09			0.16
Net increase/(decrease) in net assets resulting from operations		0.08			0.38
Distributions from net investment income (loss)		(0.25	)		-
Net asset value at end of period	$	13.60		$	14.29
Net assets at end of period	$	84,518,767		$	88,832,809
Shares outstanding at end of period		6,214,949			6,214,672
Weighted average net assets	$	85,541,257		$	86,501,919

Per share market value at end of period	$	9.61		$	9.19
Total return based on market value ⁽²⁾		16.82	%		(6.22	)%
Total return based on net asset value⁽²⁾		1.33	%		2.73	%

Ratio/Supplemental data:
Ratio of expenses to average net assets ⁽³⁾		3.32	%		1.26	%
Ratio of net investment income (loss) to average net assets⁽³⁾		(0.09	)%		1.58	%
Portfolio turnover⁽³⁾		0.10	%		N/A

⁽¹⁾	The per share data was derived by using the weighted average shares outstanding during the periods presented.

⁽²⁾

Total return based on market value is based on the change in market price per share between the beginning and ending market prices per share in each period and assumes that common stock dividends are reinvested in accordance with our common stock dividend reinvestment plan. Total return based on net asset value is based upon the change in net asset value per share between the beginning and ending net asset values per share in each period and assumes that dividends are reinvested in accordance with our common stock dividend reinvestment plan. For periods less than a year, total return is not annualized.

⁽³⁾	Ratio is not annualized.