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]

[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, 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.

[4]

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.

[5]

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.

[6]

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.

[7]

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.

[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 three months ended September 30, 2026 with these controlled investments were as follows:


Controlled Companies	Fair Value at June 30, 2026		Gross Additions (Cost)(A)		Gross Reductions (Cost) (B)		Net unrealized gains (losses)		Fair Value at September 30, 2026			Interest income		Dividend income		Other income		Net realized gains (losses)
Belnick, LLC	$	108,565	$	2,207	$	—	$	(6,541)	$	104,231		$	3,079	$	—	$	13	$	—
CP Energy Services Inc.	82,823		4,693		—		(1,152)		86,364			3,596		—		—		—
CP Energy - Spartan Energy Services, LLC	58,456		483		—		2,802		61,741			1,884		—		—		—
Credit Central Loan Company, LLC	56,537		1,398		—		(3,822)		54,113			1,371		—		—		—
Echelon Transportation, LLC	—		—		—		—		—			—		—		—		—
First Tower Finance Company LLC	960,778		9,366		—		13,756		983,900			18,824		—		3,079		—
Freedom Marine Solutions, LLC	12,077		—		—		(69)		12,008			—		—		—		—
InterDent, Inc.	340,451		8,414		—		(17,103)		331,762			11,379		—		—		—
Kickapoo Ranch Pet Resort	3,828		—		—		572		4,400			20		—		—		—
MITY, Inc.	82,436		2,015		—		(5,747)		78,704			2,321		—		50		6
National Property REIT Corp.	1,081,596		15,017		—		(25,506)		1,071,107			8,998		—		—		—
Nationwide Loan Company LLC	31,732		282		—		(1,996)		30,018			281		—		—		—
NMMB, Inc.	79,804		—		—		4,403		84,207			949		1,351		—		(1,351)
Pacific World Corporation	112,412		2,094		—		(1,504)		113,002			2,499		—		—		—
QC Holdings TopCo, LLC	100,106		3,430		—		(7,057)		96,479			3,482		—		—		—
R-V Industries, Inc.	98,475		—		—		1,602		100,077			1,828		—		—		—
Strategic Chemical Solutions Corp.	9,375		564		—		(1,364)		8,575			733		—		—		—
Universal Turbine Parts, LLC	124,259		2,148		(63)		1,360		127,704			1,493		2,148		—		—
Valley Electric Company, Inc.	293,854		—		(95,912)		(197,942)		—			2,515		(1,083)		9,840		132,904
Victor Technology, LLC (C)	6,710		—		(75)		5,691		12,326		(C)	313		—		6		—
Total	$	3,644,274	$	52,111	$	(96,050)	$	(239,617)	$	3,360,718		$	65,565	$	2,416	$	12,988	$	131,559

(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.

[9]

As defined in the 1940 Act, we are deemed to be an “Affiliated company” of these portfolio companies because we own more than 5% of the portfolio company’s outstanding voting securities. Transactions during the year ended June 30, 2026 with these affiliated investments were as follows:


Affiliated 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)

Nixon, Inc.	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
RGIS Services, LLC	27,057		1,099		—		2,291		30,447		—		1,612		—		—
Total	$	27,057	$	1,099	$	—	$	2,291	$	30,447	$	—	$	1,612	$	—	$	—

(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.

[10]

Gross additions include increases in the cost basis of the investments resulting from new portfolio investments, PIK interest, and any transfer of investments.

[11]

Gross additions include increases in the cost basis of the investments resulting from new portfolio investments, PIK interest, and any transfer of investments.

[12]

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.

[13]

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.

[14]

As defined in the 1940 Act, we are deemed to be an “Affiliated company” of these portfolio companies because we own more than 5% of the portfolio company’s outstanding voting securities. Transactions during the three months ended September 30, 2026 with these affiliated investments were as follows:


Affiliated Companies	Fair Value at June 30, 2026		Gross Additions (Cost)(A)		Gross Reductions (Cost)(B)		Net unrealized gains (losses)		Fair Value at September 30, 2026		Interest income		Dividend income		Other income		Net realized gains (losses)

Nixon, Inc.	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
RGIS Services, LLC	30,447		—		—		(8,419)		22,028		—		—		—		—
Total	$	30,447	$	—	$	—	$	(8,419)	$	22,028	$	—	$	—	$	—	$	—

(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.

[15]

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.

[16]

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.

[17]

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 3.91% as of September 30, 2026. The 3-Month Secured Overnight Financing Rate or “3M SOFR”, was 4.08% as of September 30, 2026. The PRIME Rate or “PRIME” was 6.75% as of September 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.

[18]

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 September 30, 2026, $57,612 of undrawn revolver and delayed draw term loan commitments to our portfolio companies, of which $51,717 are considered at the Company’s sole discretion.

[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, 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.

[20]

investment. Distributions, once received, will be recognized as return of capital, and when called, any remaining unamortized investment costs will be written off if the actual distributions are less than the amortized investment cost. To the extent that the cost basis of the SSN is fully recovered, any future distributions will be recorded as realized gains.

[21]

This investment is in the equity class of the collateralized loan obligation (“CLO”) security, which is referred to as “Subordinated Structured Note,” or “SSN”. The SSN investments are entitled to recurring distributions which are generally equal to the excess cash flow generated from the underlying investments after payment of the contractual payments to debt holders and fund expenses. The current estimated yield, calculated using amortized cost, is based on the current projections of this excess cash flow taking into account assumptions which have been made regarding expected prepayments, losses and future reinvestment rates. These assumptions are periodically reviewed and adjusted. Ultimately, the actual yield may be higher or lower than the estimated yield if actual results differ from those used for the assumptions.

[22]

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 September 30, 2026, our qualifying assets, as a percentage of total assets, stood at 80.52%. We monitor the status of these assets on an ongoing basis.

[23]

The effective yield has been estimated to be 0% as expected future cash flows are anticipated to not be sufficient to repay the investment at cost. If the expected investment proceeds increase, there is a potential for future investment income from the investment. Distributions, once received, will be recognized as return of capital, and when called, any remaining unamortized investment costs will be written off if the actual distributions are less than the amortized investment cost. To the extent that the cost basis of the SSN is fully recovered, any future distributions will be recorded as realized gains.

[24]

[25]

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, 2026 was $2,155,016, representing 34.0% of our total investments.

[26]

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.

[27]

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

[28]

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, 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 Lien First Out DIP Roll Up	8.00%	—%	8.00%
STG Distribution, LLC - First Lien DIP Term Loan	8.00%	—%	8.00%
STG Distribution, LLC - First Out Term Loan	—%	—%	7.25%
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%
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%

(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 12.50%.

(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 11.99%.

(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%.

[29]

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.

[30]

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

[31]

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 September 30, 2026 was $1,984,114, representing 33.4% of our total investments.

[32]

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.

[33]

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

[34]

[35]

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 September 30, 2026:


Security Name	PIK Rate - Capitalized	PIK Rate - Paid as cash	Maximum Current PIK Rate
Belnick, LLC (d/b/a The Ubique Group) - First Lien Term Loan	9.02%	3.55%	12.57%	(B)
CP Energy Services Inc. - First Lien Term Loan	11.52%	1.82%	13.34%
CP Energy Services Inc. - First Lien Term Loan	13.33%	—%	13.33%
CP Energy Services Inc. - First Lien Term Loan	—%	13.33%	13.33%
CP Energy Services Inc. - First Lien Term Loan	—%	13.33%	13.33%
CP Energy Services Inc. - First Lien Term Loan A to Spartan Energy Services, LLC	3.16%	9.18%	12.34%	(B)
CP Energy Services Inc. - Incremental First Lien Term Loan A to Spartan Energy Services, LLC	—%	12.34%	12.34%	(B)

Credit.com Holdings, LLC - First Lien Term Loan C	16.10%	—%	16.10%
Discovery Point Retreat, LLC - First Lien Delayed Draw Term Loan	5.00%	—%	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%	(C)
First Tower Finance Company LLC - First Lien Delayed Draw Term Loan	—%	16.00%	16.00%	(C)
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%

Nationwide Loan Company LLC - First Lien Delayed Draw Term Loan A	10.00%	—%	10.00%	(D)
Nationwide Loan Company LLC - First Lien Delayed Draw Term Loan B	10.00%	—%	10.00%	(D)
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	6.83%	1.32%	8.15%
QC Holdings TopCo, LLC - Second Lien Term Loan	—%	14.00%	14.00%	(E)
QC Holdings TopCo, LLC - Second Lien Delayed Draw Term Loan	—%	14.00%	14.00%	(E)


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 Lien Term Loan A	30.00%	—%	30.00%	(F)
Rising Tide Holdings, Inc. - First Lien Term Loan B	30.00%	—%	30.00%	(F)
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 Lien Term Loan	10.97%	—%	10.97%

Strategic Chemical Solutions Corp. (f/k/a USES Corp.) - First Lien Equipment Term Loan	11.14%	2.02%	13.16%	(G)
Town & Country Holdings, Inc. - First Lien Term Loan	—%	5.00%	5.00%	(H)
Universal Turbine Parts, LLC - Preferred A Units	12.75%	—%	12.75%
Upstream Holdco, Inc. - Second Lien Term Loan	13.58%	—%	13.58%
Upstream Holdco, Inc. - Second Lien Term Loan	12.98%	—%	12.98%
Victor Technology, LLC - First Lien Term Loan	—%	11.83%	11.83%	(I)
Wellful Inc. - Second Out First Lien Term Loan	—%	10.59%	10.59%

(A) 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 12.57%.

(B) 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 12.34%.

(C) 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%.

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

(E) 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.

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

(G) 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 13.16%.

(H) Town & Country Holdings, Inc. - First Lien Term Loan pays interest semi-annually. At September 30, 2026 no payment was due.

(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 11.83%.

[36]

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, 2026. 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 $61,429 in first lien term loans (the “Spartan Term Loans”) due to us as of June 30, 2026. 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.

[37]

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 September 30, 2026. 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 $61,912 in first lien term loans (the “Spartan Term Loans”) due to us as of September 30, 2026. 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.

[38]

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.

[39]

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 September 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.

[40]

[41]

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

[42]

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.

[43]

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

[44]

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

[45]

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

[46]

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

[47]

The stated interest rate on the drawn revolver and delayed drawn term loan commitments represents a weighted average interest rate for the funded amounts of the investment.

[48]

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.

[49]

First Brands is progressing towards an exit from bankruptcy via a Chapter 7 plan. Given case complexities, the lenders have executed a forbearance into a Forbearance Agreement (approved by the Bankruptcy Court via Stipulation and Agreed Order originally entered July 29, 2026 and extended on October 18, 2026) instead of a maturity extension.

[50]

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

[51]

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.

[52]

[53]

Japs-Olson Company, LLC, Alpha Mail Debt Merger Sub, LLC and J-O Building Company LLC are joint borrowers on the First Lien Term Loan.

[54]

Japs-Olson Company, LLC, Alpha Mail Debt Merger Sub, LLC and J-O Building Company LLC are joint borrowers on the First Lien Term Loan.

[55]

Pursuant to the Second Amendment to the Credit Agreement, 2.00% of the applicable margin for the interest periods from March 1, 2026 to June 1, 2026 was capitalized as an exit fee and paid in kind. No fair value appears due to rounding.

[56]

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, 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.

[57]

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 September 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.

[58]

Medical Solutions Holdings, Inc. and Medical Solutions, LLC are joint borrowers on the Second Lien Term Loan.

[59]

Medical Solutions Holdings, Inc. and Medical Solutions, LLC are joint borrowers on the Second Lien Term Loan.

[60]

NMMB Holdings, Inc. (“NMMB Holdings”), a consolidated entity in which we own 100% of the equity, owns 92.77% of the fully diluted equity of NMMB, Inc. (“NMMB”) as of June 30, 2026. NMMB owns 100% of Refuel Agency, Inc., which owns 100% of Armed Forces Communications, Inc. We report NMMB as a separate controlled company.

[61]

NMMB Holdings, Inc. (“NMMB Holdings”), a consolidated entity in which we own 100% of the equity, owns 92.77% of the fully diluted equity of NMMB, Inc. (“NMMB”) as of September 30, 2026. NMMB owns 100% of Refuel Agency, Inc., which owns 100% of Armed Forces Communications, Inc. We report NMMB as a separate controlled company.

[62]

Since Prospect’s initial common equity investment in NPRC on December 31, 2013, we have made numerous additional follow-on investments that have been used to invest in new and existing properties as well as online consumer loans and rated secured structured notes. These follow-on acquisitions are summarized by fiscal year below (excluding effects of return of capital distributions). Details of specific transactions are included in the respective fiscal year Form 10-K filing (refer to endnote 42 for NPRC term loan follow-on investments):


Fiscal Year	Follow-On Investments (NPRC Common Stock, excluding cost of initial investment)
2014	$	4,555
2015	68,693
2016	93,857
2017	116,830
2018	137,024
2019	11,582
2020	19,800
2022	15,620
2023	3,600
2024	4,600
2025	—
2026	—

[63]

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. The investments in the TLA are subject to a maximum SOFR of 3.75%.

[64]


Fiscal Year	Follow-On Investments (NPRC Common Stock, excluding cost of initial investment)
2014	$	4,555
2015	68,693
2016	93,857
2017	116,830
2018	137,024
2019	11,582
2020	19,800
2022	15,620
2023	3,600
2024	4,600
2025	—
2026	—

[65]

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%.

[66]

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.

[67]

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 September 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.

[68]

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.

[69]

[70]

As of June 30, 2026, Prospect owns 8.57% of the equity in Encinitas Watches Holdco, LLC, the parent company of Nixon, Inc.

[71]

As of September 30, 2026, Prospect owns 8.57% of the equity in Encinitas Watches Holdco, LLC, the parent company of Nixon, Inc.

[72]

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.

[73]

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 September 30, 2026. As a result, Prospect’s investment in Pacific World is classified as a control investment.

[74]

PeopleConnect Holdings, Inc. and Pubrec Holdings, Inc. are joint borrowers.

[75]

PeopleConnect Holdings, Inc. and Pubrec Holdings, Inc. are joint borrowers.

[76]

As of June 30, 2026, Prospect owns a 95.4% equity interest in QC Holdings TopCo, LLC (“QC Holdings”), representing a controlling beneficial interest in QC Holdings per the 1940 Act. QC Holdings specializes in consumer-focused alternative financial services and credit solutions.

[77]

As of September 30, 2026, Prospect owns a 95.4% equity interest in QC Holdings TopCo, LLC (“QC Holdings”), representing a controlling beneficial interest in QC Holdings per the 1940 Act. QC Holdings specializes in consumer-focused alternative financial services and credit solutions.

[78]

The Prospect owns 100% of the equity of R-V Holdings of Delaware, LLC (“R-V Holdings”), a Consolidated Holding Company. R-V Holdings owns 90.28% of the fully-diluted equity of R-V Industries, Inc.

[79]

The Prospect owns 100% of the equity of R-V Holdings of Delaware, LLC (“R-V Holdings”), a Consolidated Holding Company. R-V Holdings owns 90.01% of the fully-diluted equity of R-V Industries, Inc.

[80]

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.

[81]

[82]

[83]

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.

[84]

Represents overriding royalty interests or revenue interests held which receive payments at the stated rates based upon the underlying operations.

[85]

Represents overriding royalty interests or revenue interests held which receive payments at the stated rates based upon the underlying operations.

[86]

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.

[87]

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

[88]

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.

[89]

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.

[90]

[91]

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.

[92]

The consolidated revenue interest is equal to the lesser of (i) 2.0% of consolidated revenue for the twelve-month period ending on the last day of the prior fiscal quarter (or portion thereof) and (ii) 25% of the amount of interest accrued on the Notes at the cash interest rate for such fiscal quarter (or portion thereof).

[93]

On July 1, 2026, we sold our 94.99% equity interest in Valley Electric Company, Inc. In connection with the sale, we received cash proceeds, our pro rata share of the purchase price held in escrow and the right to a contingent earn-out payment. The investments listed reflect the fair value of the escrow receivable and the earn-out as of September 30, 2026.

[94]

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.

[95]

[96]

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 Victor 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.

[97]

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 Victor Technology is classified as a control investment as of September 30, 2026. Victor Technology is a manufacturer and distributor of office supplies, including calculators, standing desks, organizers and paperclips.