(Amounts in thousands, except ZEN amounts)

Quantity

Fair Value

Balance at December 31, 2024

889,400.61619664

$

25,713

ZEN contributed

70,658.46700949

924

ZEN distributed for Sponsor’s Fee, related party

(5,663.31857260

)

(90

)

Net change in unrealized appreciation/depreciation on investment in ZEN

-

(18,118

)

Net realized loss on investment in ZEN

-

(21

)

Balance at March 31, 2025

954,395.76463353

$

8,408

(Amounts in thousands, except ZEN amounts)

Quantity

Fair Value

Balance at December 31, 2025

949,408.87165001

$

8,673

ZEN contributed

-

-

ZEN distributed for Sponsor’s Fee, related party

(5,834.71806594

)

(42

)

Net change in unrealized appreciation/depreciation on investment in ZEN

-

(3,252

)

Net realized loss on investment in ZEN

-

(69

)

Balance at March 31, 2026

943,574.15358407

$

5,310