v3.25.2
CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES - USD ($)
$ in Thousands
Jun. 30, 2025
Jun. 30, 2024
Assets    
Fair Value $ 6,673,516 [1] $ 7,718,243 [2]
Cash and cash equivalents (restricted cash of $4,282 and $3,974, respectively) 50,788 85,872
Receivables for:    
Interest, net 25,144 26,936
Due from broker 33,393 734
Deferred financing costs on Revolving Credit Facility (Note 4) 18,842 22,975
Prepaid expenses 1,488 1,162
Total Assets  6,804,938 7,857,092
Liabilities     
Revolving Credit Facility (Notes 4 and 8) 856,322 794,796
Convertible Notes (less unamortized debt issuance costs of $0 and $649, respectively) (Notes 5 and 8) 0 155,519
Due to Prospect Capital Management (Note 13) 41,757 58,624
Interest payable 15,116 21,294
Dividends payable 28,836 25,804
Due to broker 5,639 10,272
Accrued expenses 3,490 3,591
Total Liabilities  2,186,266 2,559,171
Commitments and Contingencies (Note 3 and Note 15)
Preferred Stock 1,629,900 1,586,188
Net Assets Applicable to Common Shares 2,988,772 3,711,733
Common stock, par value $0.001 per share (1,152,100,000 and 1,352,100,000 common shares authorized; 455,902,826 and 424,846,963 issued and outstanding, respectively) (Note 9) 456 425
Paid-in capital in excess of par (Note 9 and 12) 4,242,196 4,147,587
Distributions in excess of earnings (Note 12) (1,253,880) (436,279)
Net Assets Applicable to Common Shares $ 2,988,772 $ 3,711,733
Net Asset Value Per Common Share (Note 16)  (in dollars per share) $ 6.56 $ 8.74
Public Notes    
Liabilities     
Notes $ 593,444 $ 987,567
Prospect Capital InterNotes®    
Liabilities     
Notes 638,545 496,029
Nonrelated Party    
Receivables for:    
Other 1,642 1,091
Liabilities     
Other liabilities 515 242
Affiliated Entity    
Receivables for:    
Other 125 79
Administration    
Liabilities     
Other liabilities 2,602 5,433
Control investments    
Assets    
Fair Value 3,696,367 [1],[3] 3,872,575 [2],[4]
Non-controlled/Affiliated    
Assets    
Fair Value 27,057 18,069
Non-control/non-affiliate investments    
Assets    
Fair Value $ 2,950,092 [1] $ 3,827,599 [2]
[1] Fair value is determined by or under the direction of our Board of Directors. Unless otherwise indicated by endnote 42 below, all of our investments are valued using significant unobservable inputs. In accordance with ASC 820, such investments are classified as Level 3 within the fair value hierarchy. See Notes 2 and 3 within the accompanying notes to consolidated financial statements for further discussion.
[2] Fair value is determined by or under the direction of our Board of Directors. Unless otherwise indicated by endnote 42 below, all of our investments are valued using significant unobservable inputs. In accordance with ASC 820, such investments are classified as Level 3 within the fair value hierarchy. See Notes 2 and 3 within the accompanying notes to consolidated financial statements for further discussion.
[3] As defined in the 1940 Act, we are deemed to “Control” these portfolio companies because we own more than 25% of the portfolio company’s outstanding voting securities. Transactions during the year ended June 30, 2025 with these controlled investments were as follows:
Controlled CompaniesFair Value at June 30, 2024Gross Additions (Cost)(A)Gross Reductions (Cost)(B)Net unrealized
gains (losses)		Fair Value at June 30, 2025Interest
income		Dividend
income		Other
income		Net realized
gains (losses)
Belnick, LLC (d/b/a The Ubique Group)$— $76,346 $— $(25,180)$51,166 (c)$2,748 $— $33 $— 
CP Energy Services Inc.70,721 15,174 — (536)85,359 12,550 — — — 
CP Energy - Spartan Energy Services, Inc.39,485 10,301 — (12,956)36,830 6,013 — — — 
Credit Central Loan Company, LLC79,230 7,949 — (8,443)78,736 8,711 — — — 
Echelon Transportation, LLC66,923 1,260 (1,260)(1,270)65,653 3,343 — — — 
First Tower Finance Company LLC605,928 27,616 (437)127,411 760,518 65,954 — 421 — 
Freedom Marine Solutions, LLC12,651 975 — (1,966)11,660 — — — — 
InterDent, Inc.463,883 32,479 — (157,581)338,781 39,207 — — — 
Kickapoo Ranch Pet Resort4,742 — (800)(25)3,917 160 — — — 
MITY, Inc.85,583 4,265 — 4,570 94,418 9,336 — 107 12 
National Property REIT Corp.1,696,462 99,723 (285,386)(209,827)1,300,972 89,786 — 14,825 — 
Nationwide Loan Company LLC43,162 6,484 — (12,866)36,780 3,793 — — — 
NMMB, Inc.94,265 — — (22,058)72,207 4,039 — — 6,366 
Pacific World Corporation104,663 20,592 (4,875)(12,410)107,970 9,865 — 286 — 
QC Holdings TopCo, LLC— 77,286 — — 77,286 37 — 2,319 — 
R-V Industries, Inc.102,402 10,000 — (6,825)105,577 5,558 8,774 — — 
Universal Turbine Parts, LLC68,067 20,000 (107)14,768 102,728 4,755 — 300 — 
USES Corp.17,989 8,638 (2,300)(9,809)14,518 2,775 — — — 
Valley Electric Company, Inc.316,419 — — 34,872 351,291 12,677 — 666 — 
Total$3,872,575 $419,088 $(295,165)$(300,131)$3,696,367 $281,307 $8,774 $18,957 $6,378 
(A) Gross additions include increases in the cost basis of the investments resulting from new portfolio investments, OID accretion and PIK interest, and any transfer of investments.
(B) Gross reductions include decreases in the cost basis of investments resulting from principal collections related to investments repayments or sales, impairments, and any transfer of investments.
(C) Belnick, LLC (d/b/a The Ubique Group) was transferred to a control investment effective March 31, 2025 (see endnote 48). Income recognized prior to the reclassification date is reflected as income from non-control/non-affiliate investments on our Consolidated Statement of Operations.
[4] As defined in the 1940 Act, we are deemed to “Control” these portfolio companies because we own more than 25% of the portfolio company’s outstanding voting securities. Transactions during the year ended June 30, 2024 with these controlled investments were as follows:
Portfolio CompanyFair Value at June 30, 2023Gross Additions (Cost)(A)Gross Reductions (Cost)(B)Net unrealized
gains (losses)		Fair Value at June 30, 2024Interest
income		Dividend
income		Other
income		Net realized
gains (losses)
CP Energy Services Inc.$79,355 $11,355 $— $(19,989)$70,721 $11,452 $— $— $— 
CP Energy - Spartan Energy Services, Inc.34,665 8,523 — (3,703)39,485 4,840 — — — 
Credit Central Loan Company, LLC73,642 5,987 — (399)79,230 9,312 — — — 
Echelon Transportation LLC64,198 — (1,861)4,586 66,923 3,470 — — — 
First Tower Finance Company LLC598,382 29,385 (319)(21,520)605,928 62,675 — — — 
Freedom Marine Solutions, LLC12,710 — — (59)12,651 — — — — 
InterDent, Inc.457,967 23,249 — (17,333)463,883 36,946 — — — 
Kickapoo Ranch Pet Resort3,242 1,500 — — 4,742 92 80 75 — 
MITY, Inc.68,178 5,150 — 12,255 85,583 8,988 — 130 (1)
National Property REIT Corp.1,659,976 253,948 (108,950)(108,512)1,696,462 99,538 — 66,799 — 
Nationwide Loan Company LLC47,572 9,972 — (14,382)43,162 5,111 — 147 — 
NMMB, Inc.94,180 — — 85 94,265 4,255 657 — 1,040 
Pacific World Corporation65,746 41,521 — (2,604)104,663 10,164 — 812 — 
R-V Industries, Inc.81,508 3,700 — 17,194 102,402 5,358 — 106 — 
Universal Turbine Parts, LLC45,065 2,500 (49)20,551 68,067 4,030 — — — 
USES Corp.19,527 1,545 — (3,083)17,989 1,990 — — — 
Valley Electric Company, Inc.165,784 4,763 — 145,872 316,419 12,316 — 666 — 
Total$3,571,697 $403,098 $(111,179)$8,959 $3,872,575 $280,537 $737 $68,735 $1,039 
(A) Gross additions include increases in the cost basis of the investments resulting from new portfolio investments, PIK interest, and any transfer of investments.
(B) Gross reductions include decreases in the cost basis of investments resulting from principal collections related to investments repayments or sales, impairments, and any transfer of investments.