v3.25.1
DERIVATIVE INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Breakdown of derivatives outstanding The following is a breakdown of the derivatives outstanding as of December 31, 2024 and December 31, 2023:
December 31, 2024December 31, 2023
Fair ValueRemainingFair ValueRemaining
Contract Type
Notional1
Asset2
Liability
Maturity (years)
Notional1
Asset
Liability3
Maturity (years)
5-year Treasury Futures
$(153,049)$715 $— 0.25 years$(27,869)$— $630 0.25 years
1 Shown as a negative number when the position is sold short.
2 Shown in Other assets in the accompanying Consolidated Statements of Financial Condition.
3 Shown in Accounts payable, accrued expenses, and other liabilities in the accompanying Consolidated Statements of Financial Condition.
Gains and losses on derivatives
Year Ended
December 31, 2024December 31, 2023December 31, 2022
Contract TypeUnrealized Appreciation/(Depreciation)Realized Gain/(Loss)Unrealized Appreciation/(Depreciation)Realized Gain/(Loss)Unrealized Appreciation/(Depreciation)Realized Gain/(Loss)
5-year Treasury Futures
$1,344 $(51)$(699)$834 $183 $445