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Note 5 - Derivative and Other Hedging Instruments - Schedule of Derivative Positions (Details) - Short [Member] - USD ($) $ in Thousands | Dec. 31, 2025 | Dec. 31, 2024
--- | --- | ---
Five Year Treasury Note Futures [Member] |  |  |  |  |
Average contract notional amount | [1],[2] | $ 122,500 |  | $ 312,500 |
Weighted average entry rate | [1] | 3.65% |  | 4.22% | [2]
Average receive rate | [1] | 3.65% |  | 4.37% | [2]
Open Equity | [1],[3] | $ 10 |  | $ 1,890 | [2]
Ten Year T-Note Futures [Member] |  |  |  |  |
Average contract notional amount |  | $ 90,000 | [1] | $ 93,500 | [2]
Weighted average entry rate |  | 3.79% | [1] | 4.30% | [2]
Average receive rate |  | 3.91% | [1] | 4.49% | [2]
Open Equity | [3] | $ 739 | [1] | $ 1,119 | [2]
Ten Year Ultra Futures [Member] |  |  |  |  |
Average contract notional amount |  | $ 60,000 | [1] | $ 32,500 | [2]
Weighted average entry rate |  | 4.03% | [1] | 4.25% | [2]
Average receive rate |  | 4.14% | [1] | 4.58% | [2]
Open Equity | [3] | $ 575 | [1] | $ 914 | [2]
Three Month SOFR Futures Ending in December 2025 [Member] |  |  |  |  |
Average contract notional amount |  | $ 97,500 |  |  |
Weighted average entry rate |  | 3.73% |  |  |
Average receive rate |  | 3.69% |  |  |
Open Equity | [3] | $ (44) |  |  |
Three Month SOFR Futures Ending in March 2026 [Member] |  |  |  |  |
Average contract notional amount |  | $ 97,500 |  |  |
Weighted average entry rate |  | 3.55% |  |  |
Average receive rate |  | 3.52% |  |  |
Open Equity | [3] | $ (33) |  |  |
Three Month SOFR Futures Ending in June 2026 [Member] |  |  |  |  |
Average contract notional amount |  | $ 97,500 |  |  |
Weighted average entry rate |  | 3.38% |  |  |
Average receive rate |  | 3.31% |  |  |
Open Equity | [3] | $ (66) |  |  |
Three Month SOFR Futures Ending in September 2026 [Member] |  |  |  |  |
Average contract notional amount |  | $ 97,500 |  |  |
Weighted average entry rate |  | 3.27% |  |  |
Average receive rate |  | 3.16% |  |  |
Open Equity | [3] | $ (111) |  |  |
Three Month SOFR Futures Ending in December 2026 [Member] |  |  |  |  |
Average contract notional amount |  | $ 97,500 |  |  |
Weighted average entry rate |  | 3.22% |  |  |
Average receive rate |  | 3.11% |  |  |
Open Equity | [3] | $ (105) |  |  |
Three Month SOFR Futures Ending in March 2027 [Member] |  |  |  |  |
Average contract notional amount |  | $ 97,500 |  |  |
Weighted average entry rate |  | 3.21% |  |  |
Average receive rate |  | 3.11% |  |  |
Open Equity | [3] | $ (90) |  |  |
Five Year 3.75% ERIS SOFR Swap Futures Ending in December 2025 Member] |  |  |  |  |
Average contract notional amount | [4] | $ 10,000 |  |  |
Weighted average entry rate | [4] | 3.48% |  |  |
Average receive rate | [4] | 3.45% |  |  |
Open Equity | [3],[4] | $ (13) |  |  |
[1] | 5-Year T-Note futures contracts were valued at a price of $109.20 at September 30, 2025 and $106.30 at December 31, 2024. The contract values of the short positions were $614.3 million and $332.2 million at September 30, 2025 and December 31, 2024, respectively. 10-Year T-Note futures contracts were valued at a price of $112.50 at September 30, 2025 and $108.75 at December 31, 2024. The contract values of the short positions were $257.1 million and $101.7 million at September 30, 2025 and December 31, 2024, respectively. 10-Year Ultra futures contracts were valued at a price of $115.80 at September 30, 2025 and $111.31 at December 31, 2024. The contract values of the short positions were $228.7 million and $36.2 million at September 30, 2025 and December 31, 2024, respectively.
[2] | 5-Year T-Note futures contracts were valued at a price of $109.30 as of December 31, 2025 and $106.30 as of December 31, 2024. The contract values of the short positions were $133.9 million and $332.2 million as of December 31, 2025 and 2024, respectively. 10-Year T-Note futures contracts were valued at a price of $112.44 as of December 31, 2025 and $108.75 as of December 31, 2024.. The contract values of the short positions were $101.2 million and $101.7 million as of December 31, 2025 and 2024, respectively. 10-Year Ultra futures contracts were valued at price of $115.02 as of December 31, 2025 and $111.31 as of December 31, 2024. The contract value of the short positions was $69.0 million and $36.2 million as of December 31, 2025 and 2024, respectively.
[3] | Open equity represents the cumulative gains (losses) recorded on open futures positions from inception.
[4] | ERIS swap futures are exchange traded futures that replicate the cash flows of an underlying swap position.

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