| Schedule of Financial Information of Investment |
The summarized financial statements of Solasglas are presented below.
Summarized Statements of Financial Condition of Solasglas Investments, LP | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | | Assets | | | | | Investments, at fair value | $ | 612,325 | | | $ | 600,837 | | | Derivative contracts, at fair value | 26,359 | | | 22,384 | | | Due from brokers | 377,692 | | | 281,505 | | | | | | | Interest and dividends receivable | 89 | | | 1,463 | | | Total assets | 1,016,465 | | | 906,189 | | | | | | | Liabilities | | | | | Investments sold short, at fair value | (370,975) | | | (275,794) | | | Derivative contracts, at fair value | (33,400) | | | (6,670) | | | Capital withdrawals payable | (5,675) | | | (1,010) | | | | | | | Interest and dividends payable | (1,211) | | | (2,528) | | | Accrued expenses and other liabilities | (180) | | | (178) | | | Total liabilities | (411,441) | | | (286,180) | | | | | | | Partners' capital | $ | 605,024 | | | $ | 620,009 | | | | | | | GLRE’s share of Partners' capital | $ | 493,409 | | | $ | 504,555 | |
Summarized Statements of Operations of Solasglas Investments, LP | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30 | | Six months ended June 30 | | 2026 | | 2025 | | 2026 | | 2025 | | Investment income | | | | | | | | | Dividend income (net of withholding taxes) | $ | 2,201 | | | $ | 2,687 | | | $ | 3,720 | | | $ | 4,177 | | | Interest income | 3,491 | | | 4,822 | | | 6,853 | | | 8,449 | | | Total Investment income | 5,692 | | | 7,509 | | | 10,573 | | | 12,626 | | | | | | | | | | | Expenses | | | | | | | | | Management fee | (1,704) | | | (1,756) | | | (3,570) | | | (3,486) | | | Interest | (1,747) | | | (3,770) | | | (2,298) | | | (5,471) | | | Dividends | (1,356) | | | (916) | | | (2,757) | | | (1,677) | | | Research and operating | (534) | | | (486) | | | (1,038) | | | (971) | | | Total expenses | (5,341) | | | (6,928) | | | (9,663) | | | (11,605) | | | | | | | | | | | Net investment income | 351 | | | 581 | | | 910 | | | 1,021 | | | | | | | | | | | Realized and change in unrealized gains (losses) | | | | | | | | | Net realized gain (loss) | (1,366) | | | 36,584 | | | 60,600 | | | 55,689 | | | Net change in unrealized depreciation | (37,167) | | | (62,256) | | | (53,590) | | | (35,238) | | | Net gain (loss) on investment transactions | (38,533) | | | (25,672) | | | 7,010 | | | 20,451 | | | | | | | | | | Net increase (decrease) in Partners' capital (1) | $ | (38,182) | | | $ | (25,091) | | | $ | 7,920 | | | $ | 21,472 | | | | | | | | | | GLRE’s share of the increase (decrease) in Partners' capital | $ | (27,857) | | | $ | (18,276) | | | $ | 5,832 | | | $ | 13,921 | |
(1) The net increase (decrease) in Partners’ capital is net of management fees and performance allocation presented below:
| | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30 | | Six months ended June 30 | | 2026 | | 2025 | | 2026 | | 2025 | | Management fees | $ | 1,704 | | | $ | 1,756 | | | $ | 3,570 | | | $ | 3,486 | | | Performance allocation | (3,095) | | | (2,031) | | | 648 | | | 1,547 | | | Total | $ | (1,391) | | | $ | (275) | | | $ | 4,218 | | | $ | 5,033 | |
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