v3.26.1
OTHER INVESTMENTS
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
OTHER INVESTMENTS OTHER INVESTMENTS  
 
Portfolio

At June 30, 2026, the breakdown of the Company’s other investments was as follows:
At June 30, 2026CostUnrealized
gains		Unrealized
losses		Accrued interestFair value / carrying value
Private equity securities$32,977 $37,311 $(5,827)$— $64,461 
Private debt securities464 — — — 464 
Total other investments$33,441 $37,311 $(5,827)$— $64,925 

At December 31, 2025, the breakdown of the Company’s other investments was as follows:

At December 31, 2025CostUnrealized
gains		Unrealized
losses		Accrued interestFair value / carrying value
Private equity securities$29,787 $38,086 $(6,054)$— $61,819 
Private debt securities1,585 — (572)79 1,092 
Total other investments$31,372 $38,086 $(6,626)$79 $62,911 

Private equities

Measurement alternative

During the six months ended June 30, 2026, the Company made further investments in equity securities in privately held entities that do not have readily determinable fair values. In accordance with ASC 321-10-35-2, the Company has elected to apply the measurement alternative to these new investments.
Adjustments for observable price changes and impairments

The Company recognized the following adjustments to the carrying values of the private investments and unlisted equity securities, resulting from observable price changes in orderly transactions and impairments:
Three months ended June 30Six months ended June 30
2026202520262025
Upward adjustments (1)
$— $1,265 $698 $1,748 
Downward adjustments and impairments(2)
$(1,450)$(148)$(1,770)$(1,607)

(1) The cumulative upward carrying value changes from inception to June 30, 2026, for outstanding holdings, totaled $60.0 million.
(2) The cumulative downward carrying value changes from inception to June 30, 2026, for outstanding holdings, totaled $29.9 million.

Net investment income

The following table summarizes the change in unrealized gains (losses) and the realized gains (losses) for the Company’s other investments, which are included in “Net investment income” in the condensed consolidated statements of operations (see Note 14):
Three months ended June 30Six months ended June 30
2026202520262025
Gross realized gains$— $— $— $5 
Gross realized losses— — (1,087)— 
Net realized gains (losses)$— $— $(1,087)$5 
Change in unrealized gains(1,442)33 32 139 
Net realized and unrealized gains (losses) on other investments$(1,442)$33 $(1,055)$144