Portfolio marks swing to -$35M unrealized loss; debt yield falls 50bp; material weakness remediated

Filed August 10, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 11, 2025 · ~1 min read

Key Changes

• high

  Net unrealized appreciation swung from +$40.4M to -$35.0M, a $75.4M mark-to-market deterioration signaling portfolio credit quality or valuation headwinds.

  MD&A: Portfolio Valuation verify on EDGAR →
• high

  Weighted average yield on debt investments fell from 11.5% to 11.0% (50 basis points) as the portfolio rotated toward lower-yielding credits.

  MD&A: Portfolio Composition verify on EDGAR →
• high

  Nine-month investment volume dropped 46% to $300.4M (from $560.2M) with new debt yielding 9.3% vs. 10.5% prior year, reflecting tighter origination markets.

  MD&A: Investment Activity verify on EDGAR →