On December 29, 2023, the Aventiv Technologies, LLC Second Out Super Priority First Lien Term Loan was amended to allow a portion of interest accruing in cash to be payable in kind. On March 28, 2025, the Aventiv Technologies, LLC Third Out Super Priority First Lien Term Loan was amended to allow a portion of interest accruing in cash to be payable in kind.

[2]

[3]

On May 13, 2025, the Belnick, LLC First Lien Term Loan was amended to allow interest accruing in cash to be payable in kind resulting in a maximum current PIK rate of 12.50%.

[4]

Investments may have a portion, or all, of their income received from Paid-in-Kind (“PIK”) interest or dividends. PIK interest income and cumulative dividend income represent income not paid currently in cash. The difference between the All-in Rate and PIK Rate represents the cash rate as of June 30, 2026.

[5]

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, 2026 with these controlled investments were as follows:


Controlled Companies	Fair Value at June 30, 2025		Gross Additions (Cost)(A)		Gross Reductions (Cost) (B)		Net unrealized gains (losses)		Fair Value at June 30, 2026			Interest income		Dividend income		Other income		Net realized gains (losses)
Belnick, LLC (d/b/a The Ubique Group)	$	51,166	$	11,505	$	—	$	45,894	$	108,565		$	11,508	$	—	$	50	$	—
CP Energy Services Inc.	85,359		10,853		—		(13,389)		82,823			13,355		—		—		—
CP Energy - Spartan Energy Services, LLC	36,830		9,952		—		11,674		58,456			6,898		—		—		—
Credit Central Loan Company, LLC	78,736		2,714		—		(24,913)		56,537			6,355		—		—		—
Echelon Transportation, LLC	65,653		—		(110,320)		44,667		—			1,297		—		—		(52,334)
First Tower Finance Company LLC	760,518		10,959		(2,867)		192,168		960,778			71,975		—		328		—
Freedom Marine Solutions, LLC	11,660		850		—		(433)		12,077			—		—		—		—
InterDent, Inc.	338,781		35,916		—		(34,246)		340,451			42,685		—		—		—
Kickapoo Ranch Pet Resort	3,917		—		—		(89)		3,828			81		—		—		—
MITY, Inc.	94,418		7,123		—		(19,105)		82,436			9,590		—		178		19
National Property REIT Corp.	1,300,972		47,564		(73,323)		(193,617)		1,081,596			60,395		—		—		—
Nationwide Loan Company LLC	36,780		1,049		—		(6,097)		31,732			1,049		—		—		—
NMMB, Inc.	72,207		—		—		7,597		79,804			3,820		2,112		—		2,108
Pacific World Corporation	107,970		24,826		—		(20,384)		112,412			9,775		—		418		—
QC Holdings TopCo, LLC	77,286		6,805		—		16,015		100,106			13,767		—		—		—
R-V Industries, Inc.	105,577		14,000		—		(21,102)		98,475			6,333		13,288		—		—
Strategic Chemical Solutions Corp. (f/k/a USES Corp.)	14,518		1,405		(66,219)		59,671		9,375			2,826		—		6		(66,219)
Universal Turbine Parts, LLC	102,728		6,179		(248)		15,600		124,259			6,043		6,179		—		—
Valley Electric Company, Inc.	351,291		—		—		(57,437)		293,854			12,538		10,924		666		—
Victor Technology, LLC (C)	—		12,950		(300)		(5,940)		6,710		(C)	619		—		13		—
Total	$	3,696,367	$	204,650	$	(253,277)	$	(3,466)	$	3,644,274		$	280,909	$	32,503	$	1,659	$	(116,426)

(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) Victor Technology LLC, was transferred to a control investment during the quarter-ended March 31, 2026 (see Note 14). Income recognized prior to the reclassification date is reflected as income from non-control/non-affiliate investments on our Consolidated Statement of Operations.

[6]

Represents non-income producing security that has not paid a dividend or other income in the year preceding the reporting date.

[7]

On March 31, 2025, Prospect exercised certain rights and remedies under its loan documents to exercise voting rights in respect of the equity of Belnick, LLC and certain of its subsidiaries (“Belnick”), enabling Prospect to control 100% of the voting power of Belnick, and to, among other things, appoint new officers, all of whom are our Investment Adviser’s professionals. As a result, Prospect’s investment in Belnick became classified as a control investment. Effective May 22, 2025, Prospect established 100% ownership of Belnick Holdings of Delaware, LLC (“Belnick Delaware”), a wholly owned consolidated holdings company. On May 23, 2025, Belnick Delaware acquired a 100% voting interest in Belnick’s Class P Preferred units, which, together with the voting rights obtained through the proxy over the remaining Class A units, provides Prospect with 100% of the voting interest in Belnick. Belnick Delaware executed a share transfer agreement for the remaining Class A units and effective December 31, 2025, owns 100% of the membership units in Belnick. Belnick is a provider of high-volume, value-oriented furniture and furnishings to a broad range of residential and commercial end markets.

[8]

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 Companies	Fair Value at June 30, 2024		Gross Additions (Cost)(A)		Gross Reductions (Cost)(B)		Net unrealized gains (losses)		Fair Value at June 30, 2025			Interest 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, LLC	39,485		10,301		—		(12,956)		36,830			6,013		—		—		—
Credit Central Loan Company, LLC	79,230		7,949		—		(8,443)		78,736			8,711		—		—		—
Echelon Transportation, LLC	66,923		1,260		(1,260)		(1,270)		65,653			3,343		—		—		—
First Tower Finance Company LLC	605,928		27,616		(437)		127,411		760,518			65,954		—		421		—
Freedom Marine Solutions, LLC	12,651		975		—		(1,966)		11,660			—		—		—		—
InterDent, Inc.	463,883		32,479		—		(157,581)		338,781			39,207		—		—		—
Kickapoo Ranch Pet Resort	4,742		—		(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 LLC	43,162		6,484		—		(12,866)		36,780			3,793		—		—		—
NMMB, Inc.	94,265		—		—		(22,058)		72,207			4,039		—		—		6,366
Pacific World Corporation	104,663		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, LLC	68,067		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.

[9]

On March 31, 2025, Prospect exercised certain rights and remedies under its loan documents to exercise voting rights in respect of the equity of Belnick, LLC and certain of its subsidiaries (“Belnick”) to, among other things, appoint new officers, all of whom are our Investment Adviser’s professionals. As a result, Prospect’s investment in Belnick is classified as a control investment. Effective May 22, 2025, Prospect established 100% ownership of Belnick Holdings of Delaware, LLC (“Belnick Delaware”), a wholly owned consolidated holdings company. On May 23, 2025, Belnick Delaware acquired a 100% voting interest in Belnick’s Class P Preferred units, which equates to a 99.01% fully diluted beneficial interest in Belnick as of June 30, 2025. Belnick is a provider of high-volume, value-oriented furniture and furnishings to a broad range of residential and commercial end markets.

[10]

Represents non-income producing security that has not paid a dividend or other income in the year preceding the reporting date.

[11]

On May 13, 2025, the Belnick, LLC First Lien Term Loan was amended to allow interest accruing in cash to be payable in kind resulting in a maximum current PIK rate of 13.06%.

[12]

On August 22, 2022, the Spartan Energy Services, LLC Twenty-Fifth Amendment to Amended and Restated Senior Secured Loan Agreement was amended to allow interest accruing in cash to be payable in kind resulting in a maximum current PIK rate of 11.99%.

[13]

[14]

Certain variable rate securities in our portfolio bear interest at a rate determined by a publicly disclosed base rate plus a basis point spread. The 1-Month Secured Overnight Financing Rate or “1M SOFR”, was 4.32% as of June 30, 2025. The 3-Month Secured Overnight Financing Rate or “3M SOFR”, was 4.29% as of June 30, 2025. The PRIME Rate or “PRIME” was 7.50% as of June 30, 2025. The impact of a SOFR credit spread adjustment, if applicable, is included within the stated all-in interest rate.

[15]

CP Holdings of Delaware LLC (“CP Holdings”), a consolidated entity in which we own 100% of the membership interests, owns 99.8% of CP Energy Services Inc. (“CP Energy”) as of June 30, 2025. CP Energy owns directly or indirectly 100% of each of CP Well Testing, LLC; Wright Foster Disposals, LLC; Foster Testing Co., Inc.; ProHaul Transports, LLC; and Wright Trucking, Inc. We report CP Energy as a separate controlled company. In June 2019, CP Energy purchased a controlling interest in the common equity of Spartan Energy Holdings, Inc. (“Spartan Holdings”), which owns 100% of Spartan Energy Services, LLC (“Spartan”), a portfolio company of Prospect with $51,477 in first lien term loans (the “Spartan Term Loans”) due to us as of June 30, 2025. As a result of CP Energy’s purchase, and given Prospect’s controlling interest in CP Energy, our Spartan Term Loans are presented as control investments under CP Energy. Spartan remains the direct borrower and guarantor to Prospect for the Spartan Term Loans. In September 2020, we made a new $26,193 Series A preferred stock investment in Spartan Energy Holdings, Inc., which equates to 100% of the Series A non-voting redeemable preferred stock outstanding.

[16]

The interest rate on the below list of investments, which excludes those on non-accrual, contains a paid in kind (“PIK”) provision, whereby the issuer has either the option or the obligation to make interest payments with the issuance of additional securities. The interest rate in the schedule represents the current interest rate in effect for these investments.

The following table provides additional details on these PIK investments, including the maximum annual PIK interest rate allowed under the existing credit agreements, as of June 30, 2025:


Security Name	PIK Rate - Capitalized	PIK Rate - Paid as cash	Maximum Current PIK Rate
Aventiv Technologies, LLC - Third Out Super Priority First Lien Term Loan	9.65%	—%	9.65%	(A)
Aventiv Technologies, LLC - Second Out Super Priority First Lien Term Loan	12.06%	—%	12.06%	(A)
Belnick, LLC - First Lien Term Loan	13.06%	—%	13.06%	(B)
CP Energy Services Inc. - First Lien Term Loan	—%	13.56%	13.56%
CP Energy Services Inc. - First Lien Term Loan	—%	13.56%	13.56%
CP Energy Services Inc. - First Lien Term Loan	—%	13.56%	13.56%
CP Energy Services Inc. - Delayed Draw Term Loan	10.53%	3.03%	13.56%

CP Energy Services Inc. - Incremental First Lien Term Loan A to Spartan Energy Services, LLC	—%	12.56%	12.56%	(C)
CP Energy Services Inc. - First Lien Term Loan A to Spartan Energy Services, LLC	3.94%	8.62%	12.56%	(C)
Credit Central Loan Company, LLC - First Lien Term Loan	10.00%	—%	10.00%	(D)
Credit.com Holdings, LLC - First Lien Term Loan A	15.56%	—%	15.56%	(E)

Druid City Infusion, LLC - First Lien Convertible Note	2.00%	—%	2.00%

Emerge Intermediate, Inc. - First Lien Term Loan	4.50%	—%	4.50%
First Tower Finance Company LLC - First Lien Term Loan	0.08%	14.92%	15.00%	(F)
InterDent, Inc. - First Lien Term Loan B	7.00%	—%	7.00%

InterDent, Inc. - First Lien Delayed Draw Term Loan B	7.00%	—%	7.00%
MITY, Inc. - First Lien Term Loan B	—%	10.00%	10.00%
National Property REIT Corp. - First Lien Term Loan A	—%	2.00%	2.00%
National Property REIT Corp. - First Lien Term Loan D	—%	2.00%	2.00%
National Property REIT Corp. - First Lien Term Loan E	—%	7.00%	7.00%

Nationwide Loan Company LLC - Delayed Draw Term Loan	10.00%	—%	10.00%	(G)
Nationwide Loan Company LLC - Delayed Draw Term Loan	10.00%	—%	10.00%	(G)
New WPCC Parent, LLC. - First Lien Term Loan	—%	8.00%	8.00%
QC Holdings TopCo, LLC - Second Lien Term Loan	—%	14.50%	14.50%	(J)
Pacific World Corporation - First Lien Term Loan A	7.07%	1.51%	8.58%
Recovery Solutions Parent, LLC - First Lien Term Loan	—%	8.50%	8.50%	(H)
STG Distribution, LLC - First Out First Lien Term Loan	7.25%	—%	7.25%
STG Distribution, LLC - Second Out First Lien Term Loan	6.50%	—%	6.50%
Rising Tide Holdings, Inc. - First Lien First Out Term Loan	15.00%	—%	15.00%
Rising Tide Holdings, Inc. - First Lien Second Out Term Loan	12.00%	—%	12.00%

Shoes West, LLC (d/b/a Taos Footwear) - First Lien Convertible Term Loan B	2.00%	—%	2.00%


Town & Country Holdings, Inc. - First Lien Term Loan	—%	5.00%	5.00%

USES Corp. - First Lien Term Loan	—%	13.59%	13.59%
USES Corp. - First Lien Equipment Term Loan	13.59%	—%	13.59%	(I)
Valley Electric Co. of Mt. Vernon, Inc. - First Lien Term Loan	—%	2.50%	2.50%
Valley Electric Company, Inc. - First Lien Term Loan	—%	10.00%	10.00%
Valley Electric Company, Inc. - First Lien Term Loan B	—%	5.50%	5.50%
Wellful Inc. - Tranche B Term Loan	1.75%	—%	1.75%

(A) On December 29, 2023, the Aventiv Technologies, LLC Second Out Super Priority First Lien Term Loan was amended to allow a portion of interest accruing in cash to be payable in kind. On March 28, 2025, the Aventiv Technologies, LLC Third Out Super Priority First Lien Term Loan was amended to allow a portion of interest accruing in cash to be payable in kind.

(B) On May 13, 2025, the Belnick, LLC First Lien Term Loan was amended to allow interest accruing in cash to be payable in kind resulting in a maximum current PIK rate of 13.06%.

(C) On August 22, 2022, the Spartan Energy Services, LLC Twenty-Fifth Amendment to Amended and Restated Senior Secured Loan Agreement was amended to allow interest accruing in cash to be payable in kind resulting in a maximum current PIK rate of 12.56%.

(D) On September 30, 2022, the Credit Central Senior Subordinated Loan Agreement was amended to allow interest accruing in cash to be payable in kind resulting in a maximum current PIK rate of 10.00%.

(E) On September 28, 2023, the Credit.com First Lien Term Loan A was amended to allow a portion of interest accruing in cash to be payable in kind.

(F) On December 30, 2022, the First Tower Finance Company LLC Amendment No. 15 was amended to reduce the PIK rate to 5.00% and allow the interest accruing in cash to be payable in kind resulting in a maximum current PIK rate of 15.00%.

(G) The Nationwide Loan Company LLC Delayed Draw Term Loan agreement allows for a portion of interest accruing in cash to be payable in kind.

(H) The Recovery Solutions Parent, LLC First Lien Term Loan agreement dated January 27, 2025 allows for a portion of interest accruing in cash to be payable in kind.

(I) On March 28, 2023, the USES Corp. First Lien Equipment Term loan was amended to allow interest accruing in cash to be payable in kind resulting in a maximum current PIK rate of 13.59%.

(J) The QC Holdings TopCo, LLC Senior Secured Term Loan Agreement dated June 30, 2025, allows for a portion of interest accruing in cash to be payable in kind. The first interest payment is due September 30, 2025.

[17]

On September 30, 2022, the Credit Central Senior Subordinated Loan Agreement was amended to allow interest accruing in cash to be payable in kind resulting in a maximum current PIK rate of 10.00%.

[18]

Credit Central Holdings of Delaware, LLC (“Credit Central Delaware”), a consolidated entity in which we own 100% of the membership interests, owns 99.8% of Credit Central Loan Company, LLC (f/k/a Credit Central Holdings, LLC (“Credit Central”)) as of June 30, 2025. Credit Central owns 100% of each of Credit Central, LLC; Credit Central South, LLC; Credit Central of Texas, LLC; and Credit Central of Tennessee, LLC, the operating companies. We report Credit Central as a separate controlled company.

[19]

Investment has been designated as an investment not “qualifying” under Section 55(a) of the Investment Company Act of 1940 (the “1940 Act”). Under the 1940 Act, we may not acquire any non-qualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70% of our total assets as calculated in accordance with regulatory requirements. As of June 30, 2025, our qualifying assets, as a percentage of total assets, stood at 85.27%. We monitor the status of these assets on an ongoing basis.

[20]

Credit Central Holdings of Delaware, LLC (“Credit Central Delaware”), a consolidated entity in which we own 100% of the membership interests, owns 99.8% of Credit Central Loan Company, LLC (f/k/a Credit Central Holdings, LLC (“Credit Central”)) as of June 30, 2026. Credit Central owns 100% of each of Credit Central, LLC; Credit Central South, LLC; Credit Central of Texas, LLC; and Credit Central of Tennessee, LLC, the operating companies. We report Credit Central as a separate controlled company.

[21]

Investment has been designated as an investment not “qualifying” under Section 55(a) of the Investment Company Act of 1940 (the “1940 Act”). Under the 1940 Act, we may not acquire any non-qualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70% of our total assets as calculated in accordance with regulatory requirements. As of June 30, 2026, our qualifying assets, as a percentage of total assets, stood at 81.94%. We monitor the status of these assets on an ongoing basis.

[22]

On September 28, 2023, the Credit.com First Lien Term Loan A was amended to allow a portion of interest accruing in cash to be payable in kind.

[23]

Discovery Point Retreat, LLC, Discovery MSO LLC, Eating Disorder Solutions of Texas LLC, Discovery Point Retreat Waxahachie, LLC are joint borrowers on the First Lien Term Loan.

[24]

Investment provides future right to acquire voting securities not beneficially owned, subject to certain terms and conditions, including prior notice, which if exercised, could result in such investment becoming an affiliate or control investment.

[25]

The following table provides additional details on these PIK investments, including the maximum annual PIK interest rate allowed under the existing credit agreements, as of June 30, 2026:


Security Name	PIK Rate - Capitalized	PIK Rate - Paid as cash	Maximum Current PIK Rate
Aventiv Technologies, LLC - Third Out Super Priority First Lien Term Loan	9.08%	—%	9.08%	(A)
Aventiv Technologies, LLC - Second Out Super Priority First Lien Term Loan	11.49%	—%	11.49%	(A)
Belnick, LLC (d/b/a The Ubique Group) - First Lien Term Loan	12.50%	—%	12.50%	(B)
CP Energy Services Inc. - First Lien Term Loan	12.99%	—%	12.99%
CP Energy Services Inc. - First Lien Term Loan	5.54%	7.45%	12.99%
CP Energy Services Inc. - First Lien Term Loan	—%	12.99%	12.99%
CP Energy Services Inc. - First Lien Term Loan	12.99%	—%	12.99%
CP Energy Services Inc. - First Lien Term Loan A to Spartan Energy Services, LLC	—%	11.99%	11.99%	(C)
CP Energy Services Inc. - Incremental First Lien Term Loan A to Spartan Energy Services, LLC	—%	11.99%	11.99%	(C)

Discovery Point Retreat, LLC - First Lien Delayed Draw Term Loan	—%	—%	5.00%
Druid City Infusion, LLC - First Lien Convertible Note to Druid City Intermediate, Inc.	2.00%	—%	2.00%

First Tower Finance Company LLC - First Lien Term Loan	—%	16.00%	16.00%	(D)
Help/Systems Holdings, Inc. (d/b/a Forta, LLC) - Second Lien Term Loan	9.00%	—%	9.00%
InterDent, Inc. - First Lien Term Loan B	7.00%	—%	7.00%
InterDent, Inc. - First Lien Delayed Draw Term Loan B	7.00%	—%	7.00%
Lucky US BuyerCo LLC - First Lien Revolving Line of Credit	2.00%	—%	2.00%
Lucky US BuyerCo LLC - First Lien Term Loan	2.00%	—%	2.00%
MITY, Inc. - First Lien Term Loan B	—%	10.00%	10.00%
National Property REIT Corp. - First Lien Term Loan A	—%	2.00%	2.00%

National Property REIT Corp. - First Lien Term Loan D	—%	2.00%	2.00%
National Property REIT Corp. - First Lien Term Loan E	—%	7.00%	7.00%

Nationwide Loan Company LLC - First Lien Delayed Draw Term Loan A	10.00%	—%	10.00%	(E)
Nationwide Loan Company LLC - First Lien Delayed Draw Term Loan B	10.00%	—%	10.00%	(E)
New WPCC Parent, LLC - First Lien Term Loan	—%	8.00%	8.00%
New WPCC Parent, LLC - Series A Preferred Interests	13.00%	—%	13.00%
Pacific World Corporation - First Lien Term Loan A	6.60%	1.30%	7.90%
QC Holdings TopCo, LLC - Second Lien Term Loan	—%	14.00%	14.00%	(F)
QC Holdings TopCo, LLC - Second Lien Delayed Draw Term Loan	—%	14.00%	14.00%	(F)


Recovery Solutions Parent, LLC - First Lien Term Loan	—%	5.00%	5.00%
Redstone Holdco 2 LP - First Lien Third Out Term Loan	12.00%	—%	12.00%
Rising Tide Holdings, Inc. - First In Last Out Term Loan	30.00%	—%	30.00%	(G)
Rising Tide Holdings, Inc. - First In Last Out Term Loan	20.00%	—%	20.00%	(G)
Rising Tide Holdings, Inc. - First Lien First Out Term Loan	15.00%	—%	15.00%
Rising Tide Holdings, Inc. - First Lien Second Out Term Loan	12.00%	—%	12.00%
Safety Solutions Financing, LLC - Series B Preferred Units of BFC-SDR, LLC	8.00%	—%	8.00%
ShiftKey, LLC - First Lien Term Loan	0.50%	—%	0.50%
Shoes West, LLC (d/b/a Taos Footwear) - First Lien Convertible Term Loan B	2.00%	—%	2.00%



Shoes West, LLC (d/b/a Taos Footwear) - Class A Preferred Units of Taos Footwear Holdings, LLC	8.00%	—%	8.00%
STG Distribution, LLC - First Out Term Loan	—%	—%	7.25%

STG Distribution, LLC - First Lien First Out DIP Roll Up	8.00%	—%	8.00%
STG Distribution, LLC - First Lien DIP Term Loan	8.00%	—%	8.00%
Strategic Chemical Solutions Corp. (f/k/a USES Corp.) - First Lien Equipment Term Loan	9.43%	3.47%	12.90%	(H)
Town & Country Holdings, Inc. - First Lien Term Loan	—%	5.00%	5.00%
Universal Turbine Parts, LLC - Preferred A Units	12.75%	—%	12.75%
Upstream Holdco, Inc. - Second Lien Term Loan	13.27%	—%	13.27%


Security Name	PIK Rate - Capitalized	PIK Rate - Paid as cash	Maximum Current PIK Rate
Upstream Holdco, Inc. - Second Lien Term Loan	12.67%	—%	12.67%
Valley Electric Company, Inc. - First Lien Term Loan to Valley Electric Co. of Mt. Vernon, Inc.	—%	2.50%	2.50%
Valley Electric Company, Inc. - First Lien Term Loan	—%	10.00%	10.00%
Valley Electric Company, Inc. - First Lien Term Loan B	—%	5.50%	5.50%
Victor Technology, LLC - First Lien Term Loan	—%	11.49%	11.49%	(I)
Wellful Inc. - Second Out First Lien Term Loan	—%	10.24%	10.24%

(B) On May 13, 2025, the Belnick, LLC First Lien Term Loan was amended to allow interest accruing in cash to be payable in kind resulting in a maximum current PIK rate of 12.50%.

(D) On December 30, 2025, the First Tower Finance Company LLC Amendment No. 16 was amended to reduce the PIK rate to 5.00% and allow the interest accruing in cash to be payable in kind resulting in a maximum current PIK rate of 16.00%.

(E) The Nationwide Loan Company LLC Delayed Draw Term Loan agreement allows for a portion of interest accruing in cash to be payable in kind.

(F) The Amended QC Holdings TopCo, LLC Senior Secured Term Loan Agreement dated September 30, 2025, allows for a portion of interest accruing in cash to be payable in kind.

(G) The Rising Tide Holdings, Inc. Amended and Restated ABL Credit Agreement allows for all or a portion of interest to be payable in kind.

(H) On March 28, 2023, the Strategic Chemical Solutions Corp. (f/k/a USES Corp.) First Lien Equipment Term loan was amended to allow interest accruing in cash to be payable in kind resulting in a maximum current PIK rate of 12.90%.

(I) On May 1, 2026, the Victor Technology, LLC First Lien Term Loan was amended to allow interest accruing in cash to be payable in kind resulting in a maximum current PIK rate of 11.49%.

[26]

Undrawn committed revolvers and delayed draw term loans to our portfolio companies incur commitment and unused fees ranging from 0.00% to 3.00%. As of June 30, 2026, $64,611 of undrawn revolver and delayed draw term loan commitments to our portfolio companies, of which $52,446 are considered at the Company’s sole discretion.

[27]

Equity is held through Energy Solutions Holdings Inc., a consolidated entity in which we own 100% of the equity.

[28]

Discovery Point Retreat, LLC, Discovery MSO LLC, Eating Disorder Solutions of Texas LLC, Discovery Point Retreat Waxahachie, LLC are joint borrowers on the First Lien Term Loan.

[29]

Security, or a portion thereof, is held by Prospect Capital Funding LLC (“PCF”), our wholly owned subsidiary and a bankruptcy remote special purpose entity, and is pledged as collateral for the Revolving Credit Facility and such security is not available as collateral to our general creditors (see Note 4). The fair value of the investments held by PCF as of June 30, 2026 was $2,155,016, representing 34.0% of our total investments.

[30]

Security, or a portion thereof, is held by Prospect Capital Funding LLC (“PCF”), our wholly owned subsidiary and a bankruptcy remote special purpose entity, and is pledged as collateral for the Revolving Credit Facility and such security is not available as collateral to our general creditors (see Note 4). The fair value of the investments held by PCF at June 30, 2025 was $2,520,620, representing 37.8% of our total investments.

[31]

Emerge Intermediate, Inc., HD Research, LLC, ERG Buyer, LLC, and ERG Blocker, Inc. are joint borrowers on the First Lien Term Loan.

[32]

Certain variable rate securities in our portfolio bear interest at a rate determined by a publicly disclosed base rate plus a basis point spread. The 1-Month Secured Overnight Financing Rate or “1M SOFR”, was 3.65% as of June 30, 2026. The 3-Month Secured Overnight Financing Rate or “3M SOFR”, was 3.73% as of June 30, 2026. The impact of a Secured Overnight Financing Rate (“SOFR”) credit spread adjustment, if applicable, is included within the stated all-in interest rate.

[33]

First Brands is progressing towards an exit from bankruptcy via a liquidating Chapter 11 plan. Given case complexities, the lenders have executed a forbearance into a Forbearance Agreement (approved by the Bankruptcy Court via Stipulation and Agreed Order entered July 29, 2026) instead of a maturity extension. Additionally, the disclosed interest for First Lien Term Loan A and First Lien Term Loan B represents the default rate, which became effective June 29, 2026 per the Forbearance Agreement.

[34]

This investment represents a Level 2 security in the ASC 820 table as of June 30, 2026. See Notes 2 and 3 within the accompanying notes to consolidated financial statements for further discussion.

[35]

Investment on non-accrual status as of the reporting date (see Note 2).

[36]

On December 30, 2025, the First Tower Finance Company LLC Amendment No. 16 was amended to reduce the PIK rate to 5.00% and allow the interest accruing in cash to be payable in kind resulting in a maximum current PIK rate of 16.00%.

[37]

On December 30, 2022, the First Tower Finance Company LLC Amendment No. 15 was amended to reduce the PIK rate to 5.00% and allow the interest accruing in cash to be payable in kind resulting in a maximum current PIK rate of 15.00%.

[38]

First Tower Holdings of Delaware LLC (“First Tower Delaware”), a consolidated entity in which we own 100% of the membership interests, owns 80.10% of the voting interest and 78.06% of the fully-diluted economic interest of First Tower Finance Company LLC (“First Tower Finance”). First Tower Finance owns 100% of First Tower, LLC, the operating company. We report First Tower Finance as a separate controlled company. Effective March 17, 2021, the First Tower, LLC lenders were granted a first priority security interest in First Tower Finance’s assets and our investment became classified as a First Lien Term Loan.

[39]

[40]

Undrawn committed revolvers and delayed draw term loans to our portfolio companies incur commitment and unused fees ranging from 0.00% to 5.00%. As of June 30, 2025, $40,707 of undrawn revolver and delayed draw term loan commitments to our portfolio companies, of which $15,900 are considered at the Company’s sole discretion.

[41]

MITY Holdings of Delaware Inc. (“MITY Delaware”), a consolidated entity in which we own 100% of the common stock, owns 100% of the equity of MITY, Inc. (f/k/a MITY Enterprises, Inc.) (“MITY”). MITY owns 100% of each of MITY-Lite, Inc. (“MITY-Lite”); Broda Enterprises USA, Inc.; and Broda Enterprises ULC (“Broda Canada”). We report MITY as a separate controlled company. Our subordinated unsecured note issued and outstanding to Broda Canada is denominated in Canadian Dollars (“CAD”). As of June 30, 2026, the principal balance of this note was CAD 7,371. In accordance with ASC 830, Foreign Currency Matters (“ASC 830”), this note was remeasured into our functional currency, U.S. Dollars (USD), and is presented on our Consolidated Schedule of Investments in USD. We formed a separate legal entity domiciled in the United States, MITY FSC, Inc., (“MITY FSC”) in which Prospect owns 100% of the equity. MITY FSC does not have material operations. This entity earns commission payments from MITY-Lite based on its sales to foreign customers, and distributes it to its shareholder.

[42]

MITY Holdings of Delaware Inc. (“MITY Delaware”), a consolidated entity in which we own 100% of the common stock, owns 100% of the equity of MITY, Inc. (f/k/a MITY Enterprises, Inc.) (“MITY”). MITY owns 100% of each of MITY-Lite, Inc. (“MITY-Lite”); Broda Enterprises USA, Inc.; and Broda Enterprises ULC (“Broda Canada”). We report MITY as a separate controlled company. Our subordinated unsecured note issued and outstanding to Broda Canada is denominated in Canadian Dollars (“CAD”). As of June 30, 2025, the principal balance of this note was CAD 7,371. In accordance with ASC 830, Foreign Currency Matters (“ASC 830”), this note was remeasured into our functional currency, US Dollars (USD), and is presented on our Consolidated Schedule of Investments in USD. We formed a separate legal entity domiciled in the United States, MITY FSC, Inc., (“MITY FSC”) in which Prospect owns 100% of the equity. MITY FSC does not have material operations. This entity earns commission payments from MITY-Lite based on its sales to foreign customers, and distributes it to its shareholder.

[43]

As of June 30, 2026, the residual profit interest includes 8.33% of TLA, TLD and TLE residual profit calculated quarterly in arrears. The investments in TLA and TLD are subject to a maximum SOFR of 4.00%.

[44]

3 for further discussion of the investments held by NPRC. Effective July 1, 2026, the NPRC loan agreement was amended, extending the maturity date to March 31, 2030.

[45]

NPH Property Holdings, LLC (“NPH”), a consolidated entity in which we own 100% of the membership interests, owns 100% of the common equity of National Property REIT Corp. (“NPRC”) (f/k/a National Property Holdings Corp.), a property REIT which holds investments in several real estate properties. We report NPRC as a separate controlled company. See Note 3 for further discussion of the investments held by NPRC. On July 11, 2025, the NPRC loan agreement was amended, extending the maturity date to March 31, 2027.

[46]

As of June 30, 2025, the residual profit interest includes 8.33% of TLA, TLD and TLE residual profit calculated quarterly in arrears. The investments in TLA and TLD are subject to a maximum SOFR of 4.00%.

[47]

The Nationwide Loan Company LLC Delayed Draw Term Loan agreement allows for a portion of interest accruing in cash to be payable in kind.

[48]

The Nationwide Loan Company LLC Delayed Draw Term Loan agreement allows for a portion of interest accruing in cash to be payable in kind.

[49]

Nationwide Acceptance Holdings LLC (“Nationwide Holdings”), a consolidated entity in which we own 100% of the membership interests, owns 94.22% of Nationwide Loan Company LLC, the operating company, as of June 30, 2026. We report Nationwide Loan Company LLC as a separate controlled company. Prospect has a first priority security interest in the assets of Nationwide.

[50]

Wellpath Holdings, Inc. (“Wellpath”) filed for Chapter 11 bankruptcy on November 11, 2024. On May 9, 2025 Wellpath Holdings, Inc. consummated a court-approved restructuring pursuant to its Chapter 11 Plan of Reorganization. As part of this transaction, our existing First Lien Term Loan was restructured into new debt and equity positions in New WPCC Parent, LLC and our residual Second Lien Senior Secured Term Loan deficiency claims were exchanged for beneficial interests in the Wellpath Holdings, Inc. Liquidation Trust. Our recovery in the Trust is subject to a claim’s reconciliation process and the value of our interest is based on management’s current estimate of expected recovery, using Level 3 unobservable inputs.

[51]

[52]

Prospect owns 100% of the preferred equity of Pacific World Corporation (“Pacific World”), which represents a 99.99% ownership interest of Pacific World as of June 30, 2026. As a result, Prospect’s investment in Pacific World is classified as a control investment.

[53]

Prospect owns 100% of the preferred equity of Pacific World Corporation (“Pacific World”), which represents a 99.99% ownership interest of Pacific World as of June 30, 2025. As a result, Prospect’s investment in Pacific World is classified as a control investment.

[54]

The Amended QC Holdings TopCo, LLC Senior Secured Term Loan Agreement dated September 30, 2025, allows for a portion of interest accruing in cash to be payable in kind.

[55]

The QC Holdings TopCo, LLC Senior Secured Term Loan Agreement dated June 30, 2025, allows for a portion of interest accruing in cash to be payable in kind. The first interest payment is due September 30, 2025.

[56]

The Recovery Solutions Parent, LLC First Lien Term Loan agreement dated January 27, 2025 allows for a portion of interest accruing in cash to be payable in kind.

[57]

Redstone Holdco 2 LP is the parent borrower on the First Lien Term Loans. Redstone Buyer, LLC, Redstone Intermediate (FRI) HoldCo LLC, Redstone Intermediate (NetWitness) HoldCo, LLC, and Redstone Intermediate (SecurID) HoldCo, LLC are joint borrowers on the First Lien Term Loans.

[58]

The Rising Tide Holdings, Inc. Amended and Restated ABL Credit Agreement allows for all or a portion of interest to be payable in kind.

[59]

The investment represents a unitranche loan with characteristics of a traditional first lien senior secured loan, but which pursuant to an agreement among lenders is divided among unaffiliated lenders into “first out” and “last out” tranches yielding different interest rates, where our investment is the “last out” tranche(s) of such unitranche loan, subject to payment priority in favor of a first out tranche held by an unaffiliated lender; or, the Company has entered into an intercreditor agreement that entitles the Company to the “last out” tranche of the first lien secured loans, whereby the “first out” tranche will receive priority as to the “last out” tranche(s) with respect to payments of principal, interest, and any other amounts due thereunder. Therefore, the Company may receive a higher interest rate than the “first out” lenders and the Consolidated Schedule of Investments above reflects such higher rate, as applicable.

[60]

[61]

Shoes West, LLC and Shoes West Distribution, LLC are joint borrowers on the First Lien Term Loan A and First Lien Convertible Term Loan B.

[62]

[63]

Shoes West, LLC and Shoes West Distribution, LLC are joint borrowers on the First Lien Term Loan A and First Lien Convertible Term Loan B.

[64]

On March 28, 2023, the Strategic Chemical Solutions Corp. (f/k/a USES Corp.) First Lien Equipment Term loan was amended to allow interest accruing in cash to be payable in kind resulting in a maximum current PIK rate of 12.90%.

[65]

Prospect owns 99.96% of the equity of Strategic Chemical Solutions Corp. (effective October 21, 2025 f/k/a USES Corp.) as of June 30, 2026.

[66]

On March 28, 2023, the USES Corp. First Lien Equipment Term loan was amended to allow interest accruing in cash to be payable in kind resulting in a maximum current PIK rate of 13.59%.

[67]

Prospect owns 99.96% of the equity of USES Corp. as of June 30, 2025

[68]

Investment on non-accrual status as of the reporting date (see Note 2).

[69]

Ellett Brothers, LLC, Evans Sports, Inc., Jerry’s Sports, Inc., Simmons Gun Specialties, Inc., Bonitz Brothers, Inc., and Outdoor Sports Headquarters, Inc. are joint borrowers on the second lien term loan. United Sporting Companies, Inc. (“USC”) is a parent guarantor of this debt investment, and is 100% owned by SportCo Holdings, Inc. (“SportCo”). In June 2019, USC filed for Chapter 11 bankruptcy and began liquidating its remaining assets.

[70]

[71]

UTP Holdings Group, Inc. (“UTP Holdings”) owns all of the voting stock of Universal Turbine Parts, LLC (“UTP”) and has appointed a Board of Directors to UTP Holdings, consisting of three employees of the Investment Adviser. UTP Holdings owns UTP. UTP Holdings is a wholly-owned holding company controlled by Prospect and therefore Prospect’s investment in UTP is classified as a control investment.

[72]

[73]

Valley Electric Holdings I, Inc., a consolidated entity in which we own 100% of the common stock, owns 100% of Valley Electric Holdings II, Inc. (“Valley Holdings II”), another consolidated entity. Valley Holdings II owns 94.99% of Valley Electric Company, Inc. (“Valley Electric”). Valley Electric owns 100% of the equity of VE Company, Inc., which owns 100% of the equity of Valley Electric Co. of Mt. Vernon, Inc. We report Valley Electric as a separate controlled company. On July 1, 2026, subsequent to this Consolidated Scheduled of Investments dated June 30, 2026, we closed on the sale of our equity interest in Valley Electric and concurrently received full repayment on our debt investments. Refer to Note 18. Subsequent Events for additional information.

[74]

[75]

On May 1, 2026, the Victor Technology, LLC First Lien Term Loan was amended to allow interest accruing in cash to be payable in kind resulting in a maximum current PIK rate of 11.49%.

[76]

Prospect owns 100% of the equity of Victor Holdings of Delaware, LLC (“Victor Holdings”), a Consolidated Holding Company. During the year ended June 30, 2026, Victor Holdings acquired 100% of the equity interest in VTI Acquisition, Inc. (“VTI”) and 99.90% of the equity interest in Victor Technology, LLC (“Victor Technology”), with VTI owning the remaining 0.1%. As a result, Prospect’s investment in Victory Technology is classified as a control investment as of June 30, 2026. Victor Technology is a manufacturer and distributor of office supplies, including calculators, standing desks, organizers and paperclips.