| ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | ||||
For the quarterly period ended March 31, 2024 | |||||
OR | |||||
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | ||||
| Maryland | 43-2048643 | ||||
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | ||||
10 East 40th Street, 42nd Floor | |||||
New York, New York | 10016 | ||||
| (Address of principal executive offices) | (Zip Code) | ||||
Registrant's telephone number, including area code: (212) 448-0702 | |||||
| Title of each class | Trading symbols | Name of each exchange on which registered | ||||||
| Common Stock, $0.001 par value | PSEC | NASDAQ Global Select Market | ||||||
| 5.35% Series A Fixed Rate Cumulative Perpetual Preferred Stock, par value $0.001 | PSEC PRA | New York Stock Exchange | ||||||
| Large accelerated filer | ý | Accelerated filer | o | |||||||||||||||||
| Non-accelerated filer | o | Smaller reporting company | o | |||||||||||||||||
| Emerging growth company | o | |||||||||||||||||||
| (Do not check if a smaller reporting company) | ||||||||||||||||||||
| Page | ||||||||
| PART I | FINANCIAL INFORMATION | |||||||
| PART II | OTHER INFORMATION | |||||||
| March 31, 2024 | June 30, 2023 | ||||||||||
| (Unaudited) | (Audited) | ||||||||||
| Assets | |||||||||||
| Investments at fair value: | |||||||||||
Control investments (amortized cost of $3,222,326 and $2,988,496, respectively) | $ | 3,814,119 | $ | 3,571,697 | |||||||
Affiliate investments (amortized cost of $10,162 and $8,855, respectively) | 13,805 | 10,397 | |||||||||
Non-control/non-affiliate investments (amortized cost of $4,456,184 and $4,803,245, respectively) | 3,978,788 | 4,142,837 | |||||||||
Total investments at fair value (amortized cost of $7,688,672 and $7,800,596, respectively)(Note 3) | 7,806,712 | 7,724,931 | |||||||||
Cash and cash equivalents (restricted cash of $4,532 and $5,074, respectively) | 53,480 | 95,646 | |||||||||
| Receivables for: | |||||||||||
| Interest, net | 30,652 | 22,701 | |||||||||
| Other | 1,169 | 1,051 | |||||||||
| Deferred financing costs on Revolving Credit Facility (Note 4) | 13,019 | 15,569 | |||||||||
| Due from broker | — | 617 | |||||||||
| Prepaid expenses | 588 | 1,149 | |||||||||
| Due from Affiliate (Note 13) | 174 | 2 | |||||||||
Total Assets | 7,905,794 | 7,861,666 | |||||||||
Liabilities | |||||||||||
| Revolving Credit Facility (Notes 4 and 8) | 906,376 | 1,014,703 | |||||||||
Public Notes (less unamortized discount and debt issuance costs of $13,589 and $17,103, respectively) (Notes 6 and 8) | 986,411 | 1,064,137 | |||||||||
Prospect Capital InterNotes® (less unamortized debt issuance costs of $7,403 and $6,688, respectively) (Notes 7 and 8) | 435,550 | 351,417 | |||||||||
Convertible Notes (less unamortized debt issuance costs of $885 and $1,577, respectively) (Notes 5 and 8) | 155,283 | 154,591 | |||||||||
| Due to Prospect Capital Management (Note 13) | 56,608 | 61,651 | |||||||||
| Dividends payable | 25,274 | 31,033 | |||||||||
| Interest payable | 20,627 | 22,684 | |||||||||
| Accrued expenses | 3,287 | 4,926 | |||||||||
| Due to Prospect Administration (Note 13) | 5,325 | 4,066 | |||||||||
| Due to broker | 8,904 | 94 | |||||||||
| Due to Affiliate (Note 13) | — | 161 | |||||||||
| Other liabilities | 166 | 1,524 | |||||||||
Total Liabilities | 2,603,811 | 2,710,987 | |||||||||
| Commitments and Contingencies (Note 3 and Note 15) | |||||||||||
Preferred Stock, par value $0.001 per share (647,900,000 and 447,900,000 shares of preferred stock authorized, with 80,000,000 and 72,000,000 as Series A1, 80,000,000 and 72,000,000 as Series M1, 80,000,000 and 72,000,000 as Series M2, 20,000,000 and 20,000,000 as Series AA1, 20,000,000 and 20,000,000 as Series MM1, 1,000,000 and 1,000,000 as Series A2, 6,900,000 and 6,900,000 as Series A, 80,000,000 and 72,000,000 as Series A3, 80,000,000 and 72,000,000 as Series M3, 80,000,000 and 0 as Series A4, 80,000,000 and 0 as Series M4, 20,000,000 and 20,000,000 as Series AA2, and 20,000,000 and 20,000,000 as Series MM2, each as of March 31, 2024 and June 30, 2023; 30,349,874 and 30,965,138 Series A1 shares issued and outstanding, 2,426,875 and 3,681,591 Series M1 shares issued and outstanding, 0 and 0 Series M2 shares issued and outstanding, 0 and 0 Series AA1 shares issued and outstanding, 0 and 0 Series MM1 shares issued and outstanding, 164,000 and 164,000 Series A2 shares issued and outstanding, 5,251,157 and 5,962,654 Series A shares issued and outstanding, 24,626,831 and 18,829,837 Series A3 shares issued and outstanding, 3,731,923 and 2,498,788 Series M3 shares issued and outstanding, 245,410 and 0 Series M4 shares issued and outstanding, 1,580,468 and 0 Series A4 issued and outstanding, 0 and 0 Series AA2 shares issued and outstanding, and 0 and 0 Series MM2 shares issued and outstanding as of March 31, 2024 and June 30, 2023, respectively) at carrying value plus cumulative accrued and unpaid dividends (Note 9) | 1,559,764 | 1,418,014 | |||||||||
| Net Assets Applicable to Common Shares | $ | 3,742,219 | $ | 3,732,665 | |||||||
| Components of Net Assets Applicable to Common Shares and Net Assets, respectively | |||||||||||
Common stock, par value $0.001 per share (1,352,100,000 and 1,552,100,000 common shares authorized; 416,150,886 and 404,033,549 issued and outstanding, respectively) (Note 9) | 416 | 404 | |||||||||
| Paid-in capital in excess of par (Note 9 and 12) | 4,198,655 | 4,123,586 | |||||||||
| Total distributable (loss) (Note 12) | (456,852) | (391,325) | |||||||||
| Net Assets Applicable to Common Shares | $ | 3,742,219 | $ | 3,732,665 | |||||||
Net Asset Value Per Common Share (Note 16) | $ | 8.99 | $ | 9.24 | |||||||
| Three Months Ended March 31, | Nine Months Ended March 31, | ||||||||||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||||||||||
| Investment Income | |||||||||||||||||||||||
| Interest income: | |||||||||||||||||||||||
| Control investments | $ | 68,505 | $ | 64,496 | $ | 210,272 | $ | 187,579 | |||||||||||||||
| Affiliate investments | — | — | — | 15,034 | |||||||||||||||||||
| Non-control/non-affiliate investments | 110,679 | 109,601 | 340,421 | 287,735 | |||||||||||||||||||
| Structured credit securities | 4,748 | 24,039 | 30,317 | 72,982 | |||||||||||||||||||
| Total interest income | 183,932 | 198,136 | 581,010 | 563,330 | |||||||||||||||||||
| Dividend income: | |||||||||||||||||||||||
| Control investments | 510 | 800 | 737 | 3,157 | |||||||||||||||||||
| Affiliate investments | — | — | 1,307 | 1,374 | |||||||||||||||||||
| Non-control/non-affiliate investments | 1,469 | 1,128 | 4,334 | 2,515 | |||||||||||||||||||
| Total dividend income | 1,979 | 1,928 | 6,378 | 7,046 | |||||||||||||||||||
| Other income: | |||||||||||||||||||||||
| Control investments | 14,192 | 14,768 | 55,553 | 50,463 | |||||||||||||||||||
| Affiliate investments | — | — | — | 133 | |||||||||||||||||||
| Non-control/non-affiliate investments | 2,112 | 288 | 6,461 | 9,738 | |||||||||||||||||||
| Total other income (Note 10) | 16,304 | 15,056 | 62,014 | 60,334 | |||||||||||||||||||
| Total Investment Income | 202,215 | 215,120 | 649,402 | 630,710 | |||||||||||||||||||
| Operating Expenses | |||||||||||||||||||||||
| Base management fee (Note 13) | 39,218 | 38,980 | 117,594 | 116,176 | |||||||||||||||||||
| Income incentive fee (Note 13) | 17,390 | 20,561 | 61,332 | 64,692 | |||||||||||||||||||
| Interest and credit facility expenses | 39,841 | 37,517 | 120,478 | 109,170 | |||||||||||||||||||
| Allocation of overhead from Prospect Administration (Note 13) | 5,708 | 9,773 | 20,073 | 16,490 | |||||||||||||||||||
| Audit, compliance and tax related fees | 583 | 1,495 | 2,079 | 4,032 | |||||||||||||||||||
| Directors’ fees | 150 | 131 | 416 | 393 | |||||||||||||||||||
| Other general and administrative expenses | 4,950 | 4,483 | 10,516 | 11,607 | |||||||||||||||||||
| Total Operating Expenses | 107,840 | 112,940 | 332,488 | 322,560 | |||||||||||||||||||
| Net Investment Income | 94,375 | 102,180 | 316,914 | 308,150 | |||||||||||||||||||
| Net Realized and Net Change in Unrealized Gains (Losses) from Investments | |||||||||||||||||||||||
| Net realized gains (losses) | |||||||||||||||||||||||
| Control investments | 1,186 | (800) | 1,039 | (2,512) | |||||||||||||||||||
| Affiliate investments | — | — | — | 16,143 | |||||||||||||||||||
| Non-control/non-affiliate investments | (70,949) | (31,413) | (278,168) | (52,723) | |||||||||||||||||||
| Net realized gains (losses) | (69,763) | (32,213) | (277,129) | (39,092) | |||||||||||||||||||
| Net change in unrealized (losses) gains | |||||||||||||||||||||||
| Control investments | 125,827 | (41,162) | 8,592 | (109,909) | |||||||||||||||||||
| Affiliate investments | (487) | — | 2,101 | (89,034) | |||||||||||||||||||
| Non-control/non-affiliate investments | (5,523) | (117,761) | 183,012 | (179,153) | |||||||||||||||||||
| Net change in unrealized (losses) gains | 119,817 | (158,923) | 193,705 | (378,096) | |||||||||||||||||||
| Net Realized and Net Change in Unrealized (Losses) Gains from Investments | 50,054 | (191,136) | (83,424) | (417,188) | |||||||||||||||||||
| Net realized losses on extinguishment of debt | (68) | (58) | (212) | (138) | |||||||||||||||||||
| Net Increase (Decrease) in Net Assets Resulting from Operations | 144,361 | (89,014) | 233,278 | (109,176) | |||||||||||||||||||
| Preferred Stock dividends | (24,812) | (19,933) | (72,033) | (49,347) | |||||||||||||||||||
| Net (loss) on redemptions of Preferred Stock | (925) | — | (46) | — | |||||||||||||||||||
| (Loss) on Accretion to Redemption Value of Preferred Stock | (4,733) | — | (4,733) | — | |||||||||||||||||||
| Net Increase (Decrease) in Net Assets Resulting from Operations applicable to Common Stockholders | $ | 113,891 | $ | (108,947) | $ | 156,466 | $ | (158,523) | |||||||||||||||
| Basic and diluted earnings (loss) per common share (Note 11) | |||||||||||||||||||||||
| Basic | $ | 0.27 | $ | (0.27) | $ | 0.38 | $ | (0.40) | |||||||||||||||
| Diluted | $ | 0.20 | $ | (0.27) | $ | 0.33 | $ | (0.40) | |||||||||||||||
| Weighted-average shares of common stock outstanding (Note 11) | |||||||||||||||||||||||
| Basic | 414,461,972 | 399,732,263 | 410,571,037 | 397,233,468 | |||||||||||||||||||
| Diluted | 678,353,870 | 399,732,263 | 641,275,844 | 397,233,468 | |||||||||||||||||||
| Preferred Stock Classified as Temporary Equity | Common Stock | |||||||||||||||||||||||||||||||||||||||||||
| Three Months Ended March 31, 2024 | Shares | Carrying Value | Shares | Par | Paid-in capital in excess of par(1) | Distributable earnings (loss)(1) | Total Net Assets | |||||||||||||||||||||||||||||||||||||
| Balance as of December 31, 2023(1) | 65,944,753 | $ | 1,500,741 | 412,794,121 | $ | 413 | $ | 4,179,293 | $ | (496,057) | $ | 3,683,649 | ||||||||||||||||||||||||||||||||
Net Increase (Decrease) in Net Assets and Temporary Equity Resulting from Operations: | ||||||||||||||||||||||||||||||||||||||||||||
| Net investment income | 94,375 | 94,375 | ||||||||||||||||||||||||||||||||||||||||||
| Net realized losses | (75,489) | (75,489) | ||||||||||||||||||||||||||||||||||||||||||
| Net change in unrealized gains | 119,817 | 119,817 | ||||||||||||||||||||||||||||||||||||||||||
| Distributions to Shareholders | ||||||||||||||||||||||||||||||||||||||||||||
| Distributions from earnings (Note 16) | (99,498) | (99,498) | ||||||||||||||||||||||||||||||||||||||||||
| Capital Transactions | ||||||||||||||||||||||||||||||||||||||||||||
| Issuance of preferred stock | 2,775,820 | 62,165 | ||||||||||||||||||||||||||||||||||||||||||
| Accretion of preferred stock to redemption value | 4,719 | |||||||||||||||||||||||||||||||||||||||||||
| Shares issued through reinvestment of dividends | 38,180 | 909 | 1,773,143 | 2 | 9,651 | 9,653 | ||||||||||||||||||||||||||||||||||||||
| Conversion of preferred stock to common stock | (382,215) | (8,775) | 1,583,622 | 1 | 9,711 | 9,712 | ||||||||||||||||||||||||||||||||||||||
| Net decrease in preferred dividend accrual | 5 | — | ||||||||||||||||||||||||||||||||||||||||||
| Total increase (decrease) for the three months ended March 31, 2024 | 2,431,785 | 59,023 | 3,356,765 | 3 | 19,362 | 39,205 | 58,570 | |||||||||||||||||||||||||||||||||||||
| Balance as of March 31, 2024 | 68,376,538 | $ | 1,559,764 | 416,150,886 | $ | 416 | $ | 4,198,655 | $ | (456,852) | $ | 3,742,219 | ||||||||||||||||||||||||||||||||
| Preferred Stock Classified as Temporary Equity | Common Stock | |||||||||||||||||||||||||||||||||||||||||||
| Three Months Ended March 31, 2023 | Shares | Carrying Value | Shares | Par | Paid-in capital in excess of par(1) | Distributable earnings (loss)(1) | Total Net Assets | |||||||||||||||||||||||||||||||||||||
| Balance as of December 31, 2022(1) | 52,669,005 | $ | 1,207,553 | 398,852,478 | $ | 399 | 4,089,950 | (123,958) | 3,966,391 | |||||||||||||||||||||||||||||||||||
| Net Increase in Net Assets and Temporary Equity Resulting from Operations: | ||||||||||||||||||||||||||||||||||||||||||||
| Net investment income | 102,180 | 102,180 | ||||||||||||||||||||||||||||||||||||||||||
| Net realized losses | (32,271) | (32,271) | ||||||||||||||||||||||||||||||||||||||||||
| Net change in unrealized losses | (158,923) | (158,923) | ||||||||||||||||||||||||||||||||||||||||||
| Distributions to Shareholders(1) | ||||||||||||||||||||||||||||||||||||||||||||
| Distributions from earnings (Note 16) | (91,942) | (91,942) | ||||||||||||||||||||||||||||||||||||||||||
| Capital Transactions | ||||||||||||||||||||||||||||||||||||||||||||
| Issuance of Preferred Stock | 5,539,836 | 123,915 | ||||||||||||||||||||||||||||||||||||||||||
| Shares issued through reinvestment of dividends | 16,826 | 420 | 1,399,596 | 1 | 9,757 | 9,758 | ||||||||||||||||||||||||||||||||||||||
| Conversion of preferred stock to common stock | (172,533) | (4,101) | 581,799 | 1 | 4,100 | 4,101 | ||||||||||||||||||||||||||||||||||||||
| Net increase in preferred dividend accrual | (27) | |||||||||||||||||||||||||||||||||||||||||||
| Tax reclassifications of net assets (Note 12) | (29) | 29 | — | |||||||||||||||||||||||||||||||||||||||||
| Total increase for the three months ended March 31, 2023 | 5,384,129 | 120,207 | 1,981,395 | 2 | 13,828 | (180,927) | (167,097) | |||||||||||||||||||||||||||||||||||||
| Balance as of March 31, 2023 | 58,053,134 | $ | 1,327,760 | 400,833,873 | $ | 401 | $ | 4,103,778 | $ | (304,885) | $ | 3,799,294 | ||||||||||||||||||||||||||||||||
| Preferred Stock Classified as Temporary Equity | Common Stock | |||||||||||||||||||||||||||||||||||||||||||
| Nine Months Ended March 31, 2024 | Shares | Carrying Value | Shares | Par | Paid-in capital in excess of par(1) | Distributable earnings (loss)(1) | Total Net Assets | |||||||||||||||||||||||||||||||||||||
| Balance as of June 30, 2023 | 62,102,009 | $ | 1,418,014 | 404,033,549 | $404 | $ | 4,123,586 | $ | (391,325) | $ | 3,732,665 | |||||||||||||||||||||||||||||||||
| Net Increase (Decrease) in Net Assets and Temporary Equity Resulting from Operations: | ||||||||||||||||||||||||||||||||||||||||||||
| Net investment income | 316,914 | 316,914 | ||||||||||||||||||||||||||||||||||||||||||
| Net realized losses | (282,120) | (282,120) | ||||||||||||||||||||||||||||||||||||||||||
| Net change in unrealized gains | 193,705 | 193,705 | ||||||||||||||||||||||||||||||||||||||||||
| Distributions to Shareholders | ||||||||||||||||||||||||||||||||||||||||||||
| Distributions from earnings (Note 16) | (294,026) | (294,026) | ||||||||||||||||||||||||||||||||||||||||||
| Capital Transactions | ||||||||||||||||||||||||||||||||||||||||||||
| Issuance of preferred stock | 8,633,867 | 192,809 | ||||||||||||||||||||||||||||||||||||||||||
| Accretion of preferred stock to redemption value | 4,719 | |||||||||||||||||||||||||||||||||||||||||||
| Repurchase of Preferred Stock | (711,497) | (17,155) | ||||||||||||||||||||||||||||||||||||||||||
| Shares issued through reinvestment of dividends | 103,510 | 2,471 | 4,992,834 | 6 | 28,221 | 28,227 | ||||||||||||||||||||||||||||||||||||||
| Conversion of preferred stock to common stock | (1,751,351) | (40,952) | 7,124,503 | 6 | 46,848 | 46,854 | ||||||||||||||||||||||||||||||||||||||
| Net (decrease) in preferred dividend accrual | (142) | |||||||||||||||||||||||||||||||||||||||||||
| Total increase (decrease) for the nine months ended March 31, 2024 | 6,274,529 | 141,750 | 12,117,337 | 12 | 75,069 | (65,527) | 9,554 | |||||||||||||||||||||||||||||||||||||
| Balance as of March 31, 2024 | 68,376,538 | $ | 1,559,764 | 416,150,886 | $ | 416 | $ | 4,198,655 | $ | (456,852) | $ | 3,742,219 | ||||||||||||||||||||||||||||||||
| Preferred Stock Classified as Temporary Equity | Common Stock | |||||||||||||||||||||||||||||||||||||||||||
| Nine Months Ended March 31, 2023 | Shares | Carrying Value | Shares | Par | Paid-in capital in excess of par(1) | Distributable earnings (loss)(1) | Total Net Assets | |||||||||||||||||||||||||||||||||||||
| Balance as of June 30, 2022 | 29,607,882 | $ | 692,076 | 393,164,437 | $ | 393 | $ | 4,050,370 | $ | 68,360 | $ | 4,119,123 | ||||||||||||||||||||||||||||||||
Net Increase in Net Assets and Temporary Equity Resulting from Operations: | ||||||||||||||||||||||||||||||||||||||||||||
| Net investment income | 308,150 | 308,150 | ||||||||||||||||||||||||||||||||||||||||||
| Net realized losses | (39,230) | (39,230) | ||||||||||||||||||||||||||||||||||||||||||
| Net change in unrealized losses | (378,096) | (378,096) | ||||||||||||||||||||||||||||||||||||||||||
| Distributions to Shareholders(1) | ||||||||||||||||||||||||||||||||||||||||||||
| Distributions from earnings(Note 16) | (264,098) | (264,098) | ||||||||||||||||||||||||||||||||||||||||||
| Capital Transactions | ||||||||||||||||||||||||||||||||||||||||||||
| Issuance of Preferred Stock | 28,965,017 | 647,715 | ||||||||||||||||||||||||||||||||||||||||||
| Shares issued through reinvestment of dividends | 37,621 | 939 | 5,859,102 | 6 | 40,442 | 40,448 | ||||||||||||||||||||||||||||||||||||||
| Conversion of preferred stock to common stock | (557,386) | (12,994) | 1,810,034 | 2 | 12,992 | 12,994 | ||||||||||||||||||||||||||||||||||||||
| Net increase in preferred dividend accrual | 24 | |||||||||||||||||||||||||||||||||||||||||||
| Conversion of convertible notes to common stock | 300 | 3 | 3 | |||||||||||||||||||||||||||||||||||||||||
| Tax reclassification of net assets (Note 12) | (29) | 29 | ||||||||||||||||||||||||||||||||||||||||||
| Total increase (decrease) for the nine months ended March 31, 2023 | 28,445,252 | 635,684 | 7,669,436 | 8 | 53,408 | (373,245) | (319,829) | |||||||||||||||||||||||||||||||||||||
| Balance as of March 31, 2023 | 58,053,134 | $ | 1,327,760 | 400,833,873 | $ | 401 | $ | 4,103,778 | $ | (304,885) | $ | 3,799,294 | ||||||||||||||||||||||||||||||||
| Nine Months Ended March 31, | |||||||||||
| 2024 | 2023 | ||||||||||
| Operating Activities | |||||||||||
| Net increase (decrease) in net assets resulting from operations | $ | 233,278 | $ | (109,176) | |||||||
| Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash used in operating activities: | |||||||||||
| Net realized losses on extinguishment of debt | 212 | 138 | |||||||||
| Net realized losses on investments | 277,129 | 39,092 | |||||||||
| Net change in unrealized (gains) losses on investments | (193,705) | 378,096 | |||||||||
| Amortization of discounts (accretion of premiums), net | (4,155) | (4,215) | |||||||||
| Accretion of original issue discount | 2,156 | 2,304 | |||||||||
| Amortization of deferred financing costs | 5,610 | 5,255 | |||||||||
| Payment-in-kind interest | (95,048) | (97,952) | |||||||||
| Structuring fees | (4,816) | (8,705) | |||||||||
| Change in operating assets and liabilities: | |||||||||||
| Payments for purchases of investments | (422,452) | (597,552) | |||||||||
| Proceeds from sale of investments and collection of investment principal | 298,586 | 302,099 | |||||||||
| Net Reductions to Subordinated Structured Notes and related investment cost | 62,680 | (1,130) | |||||||||
| (Increase) decrease in due from broker | 617 | (400) | |||||||||
| (Increase) decrease in interest receivable, net | (7,951) | (14,104) | |||||||||
| (Increase) decrease in other receivables | (118) | (318) | |||||||||
| (Increase) decrease in prepaid expenses | 561 | 749 | |||||||||
| (Increase) decrease in due from Affiliate | (172) | (1) | |||||||||
| Increase (decrease) in due to broker | 8,810 | — | |||||||||
| Increase (decrease) in due to Prospect Capital Management | (5,043) | 1,442 | |||||||||
| Increase (decrease) in accrued expenses | (1,639) | 2,286 | |||||||||
| Increase (decrease) in interest payable | (2,057) | (6,680) | |||||||||
| Increase (decrease) in due to Affiliate | (161) | — | |||||||||
| Increase (decrease) in due to Prospect Administration | 1,259 | 7,847 | |||||||||
| Increase (decrease) in other liabilities | (1,358) | (319) | |||||||||
| Net Cash (Used in) Provided by Operating Activities | 152,223 | (101,244) | |||||||||
| Financing Activities | |||||||||||
| Borrowings under Revolving Credit Facility (Note 4) | 875,300 | 1,224,900 | |||||||||
| Principal payments under Revolving Credit Facility (Note 4) | (983,627) | (1,175,959) | |||||||||
| Redemptions of Public Notes (Note 6) | (81,240) | (284,218) | |||||||||
| Redemptions of Convertible Notes (Note 5) | — | (60,501) | |||||||||
| Issuances of Prospect Capital InterNotes® (Note 7) | 94,165 | 13,333 | |||||||||
| Redemptions of Prospect Capital InterNotes®, net (Note 7) | (9,317) | (5,433) | |||||||||
| Financing costs paid and deferred | (1,940) | (6,742) | |||||||||
| Repurchase of Preferred Stock | (11,301) | — | |||||||||
| Proceeds from issuance of preferred stock, net of underwriting costs | 196,330 | 657,479 | |||||||||
| Offering costs from issuance of preferred stock | (3,521) | (9,764) | |||||||||
| Dividends paid and distributions to stockholders | (269,238) | (222,123) | |||||||||
| Net Cash Provided by (Used in) Financing Activities | (194,389) | 130,972 | |||||||||
| Net Increase in Cash, Cash Equivalents and Restricted Cash | (42,166) | 29,728 | |||||||||
| Cash, Cash Equivalents and Restricted Cash at beginning of period | 95,646 | 35,364 | |||||||||
| Cash, Cash Equivalents and Restricted Cash at End of Period | $ | 53,480 | $ | 65,092 | |||||||
| Supplemental Disclosures | |||||||||||
| Cash paid for interest | $ | 114,769 | $ | 108,291 | |||||||
| Non-Cash Financing Activities | |||||||||||
| Value of shares issued through reinvestment of dividends | $ | 30,698 | $ | 41,387 | |||||||
| Conversion of preferred stock to common stock | $ | 40,952 | $ | 12,994 | |||||||
| Conversion of Convertible Notes to common stock | $ | — | $ | 3,000 | |||||||
| March 31, 2024 | |||||||||||||||||||||||||||||||||||
| Portfolio Company | Industry | Investments(1)(37) | Acquisition Date(44) | Coupon/Yield | Floor | Legal Maturity | Principal Value | Amortized Cost | Fair Value(2) | % of Net Assets | |||||||||||||||||||||||||
| Control Investments (greater than 25.00% voting control)(40) | |||||||||||||||||||||||||||||||||||
| National Property REIT Corp. (26) | Equity Real Estate Investment Trusts (REITs) / Online Lending / Structured Finance | First Lien Term Loan A | 12/31/2018 | 4.25% (3M SOFR+ 0.25%) plus 2.00% PIK | 3.75 | 3/31/2026 | $640,556 | $640,556 | $640,556 | 17.1% | (10)(39) | ||||||||||||||||||||||||
| First Lien Term Loan B | 12/31/2018 | 7.56% (3M SOFR+ 2.00%) | 3.00 | 3/31/2026 | 20,630 | 20,630 | 20,630 | 0.6% | (10)(39) | ||||||||||||||||||||||||||
| First Lien Term Loan C | 10/31/2019 | 15.56%(3M SOFR+ 10.00%) plus 2.25% PIK | 1.00 | 3/31/2026 | 210,000 | 210,000 | 210,000 | 5.6% | (10)(39) | ||||||||||||||||||||||||||
| First Lien Term Loan D | 6/19/2020 | 4.25% (3M SOFR+ 0.25%) plus 2.00% PIK | 3.75 | 3/31/2026 | 183,425 | 183,425 | 183,425 | 4.9% | (10)(39) | ||||||||||||||||||||||||||
| First Lien Term Loan E | 11/14/2022 | 7.00% (3M SOFR + 1.50%) plus 7.00% PIK | 5.50 | 3/31/2026 | 14,357 | 14,357 | 14,357 | 0.4% | (10)(39) | ||||||||||||||||||||||||||
| Residual Profit Interest | 12/31/2018 | — | N/A | — | — | 45,840 | 1.2% | (35) | |||||||||||||||||||||||||||
Common Stock (3,374,914 shares) | 12/31/2013 | — | N/A | — | 20,030 | 549,702 | 14.7% | (16)(45) | |||||||||||||||||||||||||||
| 1,088,998 | 1,664,510 | 44.5% | |||||||||||||||||||||||||||||||||
| Nationwide Loan Company LLC (27) | Consumer Finance | First Lien Term Loan | 6/18/2014 | 10.00% plus 10.00% PIK | — | 6/18/2024 | 25,849 | 25,849 | 25,849 | 0.7% | (14)(39) | ||||||||||||||||||||||||
Class A Units (38,550,460 units) | 1/31/2013 | — | N/A | — | 20,845 | 17,213 | 0.5% | (14)(16) | |||||||||||||||||||||||||||
| 46,694 | 43,062 | 1.2% | |||||||||||||||||||||||||||||||||
| NMMB, Inc. (28) | Media | First Lien Term Loan | 12/30/2019 | 14.06% (3M SOFR+ 8.50%) | 2.00 | 3/31/2027 | 29,723 | 29,723 | 29,723 | 0.8% | (3)(10) | ||||||||||||||||||||||||
Common Stock (21,418 shares) | 12/30/2019 | — | N/A | — | — | 64,503 | 1.7% | ||||||||||||||||||||||||||||
| 29,723 | 94,226 | 2.5% | |||||||||||||||||||||||||||||||||
| Pacific World Corporation (36) | Personal Products | First Lien Revolving Line of Credit - $26,000 Commitment | 9/26/2014 | 9.58% PIK (1M SOFR+ 3.99%) | 1.00 | 9/26/2025 | 33,360 | 33,360 | 33,360 | 0.9% | (10)(15) (39) | ||||||||||||||||||||||||
| First Lien Term Loan A | 12/31/2014 | 9.58% PIK (1M SOFR+ 3.99%) | 1.00 | 9/26/2025 | 63,143 | 63,143 | 63,143 | 1.7% | (10)(39) | ||||||||||||||||||||||||||
Convertible Preferred Equity (584,515 shares) | 6/15/2018 | 12.00% PIK | — | N/A | — | 221,795 | 8,392 | 0.2% | (16) | ||||||||||||||||||||||||||
Common Stock (6,778,414 shares) | 9/29/2017 | — | N/A | — | — | — | —% | (16) | |||||||||||||||||||||||||||
| 318,298 | 104,895 | 2.8% | |||||||||||||||||||||||||||||||||
| R-V Industries, Inc. | Machinery | First Lien Term Loan | 12/15/2020 | 14.56% (3M SOFR+ 9.00%) | 1.00 | 12/15/2028 | 37,322 | 37,322 | 37,322 | 1.0% | (3)(10) | ||||||||||||||||||||||||
Common Stock (745,107 shares) | 6/26/2007 | — | N/A | — | 6,866 | 61,327 | 1.6% | (16) | |||||||||||||||||||||||||||
| 44,188 | 98,649 | 2.6% | |||||||||||||||||||||||||||||||||
| Universal Turbine Parts, LLC (34) | Trading Companies & Distributors | First Lien Delayed Draw Term Loan - $6,965 Commitment | 2/28/2019 | 13.31% (3M SOFR+ 7.75%) | 1.00 | 10/5/2026 | 5,574 | 5,574 | 5,574 | 0.1% | (10)(15) | ||||||||||||||||||||||||
| First Lien Term Loan A | 7/22/2016 | 11.31% (3M SOFR+ 5.75%) | 1.00 | 10/5/2026 | 29,575 | 29,575 | 29,575 | 0.8% | (3)(10) | ||||||||||||||||||||||||||
Preferred Units (68,845,206 units) | 3/31/2021 | — | N/A | — | 32,500 | 33,095 | 0.9% | (16) | |||||||||||||||||||||||||||
Common Stock (10,000 units) | 12/10/2018 | — | N/A | — | — | — | —% | (16) | |||||||||||||||||||||||||||
| 67,649 | 68,244 | 1.8% | |||||||||||||||||||||||||||||||||
| USES Corp. (30) | Commercial Services & Supplies | First Lien Term Loan | 12/30/2020 | 14.59% (1M SOFR + 9.00%) | 1.00 | 7/29/2024 | 2,000 | 2,000 | 2,000 | 0.1% | (10) | ||||||||||||||||||||||||
| First Lien Equipment Term Loan | 8/3/2022 | 14.59% (1M SOFR + 9.00%) | 1.00 | 7/29/2024 | 11,774 | 11,774 | 11,774 | 0.3% | (10)(39) | ||||||||||||||||||||||||||
| First Lien Term Loan A | 3/31/2014 | 9.00% PIK | — | 7/29/2024 | 70,247 | 30,651 | 8,015 | 0.2% | (9) | ||||||||||||||||||||||||||
| First Lien Term Loan B | 3/31/2014 | 15.50% PIK | — | 7/29/2024 | 117,530 | 35,568 | — | —% | (9) | ||||||||||||||||||||||||||
Common Stock (268,962 shares) | 6/15/2016 | — | N/A | — | — | — | —% | (16) | |||||||||||||||||||||||||||
| 79,993 | 21,789 | 0.6% | |||||||||||||||||||||||||||||||||
| Valley Electric Company, Inc. (31) | Construction & Engineering | First Lien Term Loan to Valley Electric Co. of Mt. Vernon, Inc. | 12/31/2012 | 10.59% (3M SOFR+ 5.00%) plus 2.50% PIK | 3.00 | 12/31/2024 | 10,452 | 10,452 | 10,452 | 0.3% | (3)(10)(39) | ||||||||||||||||||||||||
| First Lien Term Loan | 6/24/2014 | 8.00% plus 10.00% PIK | — | 4/30/2028 | 37,688 | 37,688 | 37,688 | 1.0% | (3)(39) | ||||||||||||||||||||||||||
| First Lien Term Loan B | 3/28/2022 | 4.50% plus 8.00% PIK | — | 4/30/2028 | 34,095 | 34,095 | 34,095 | 0.9% | (3)(39) | ||||||||||||||||||||||||||
Consolidated Revenue Interest (2.00%) | 6/22/2018 | — | N/A | — | — | 2,347 | 0.1% | (12) | |||||||||||||||||||||||||||
Common Stock (50,000 shares) | 12/31/2012 | — | N/A | — | 12,052 | 233,688 | 6.2% | (16) | |||||||||||||||||||||||||||
| 94,287 | 318,270 | 8.5% | |||||||||||||||||||||||||||||||||
| Total Control Investments | $3,222,326 | $3,814,119 | 101.9% | ||||||||||||||||||||||||||||||||
| June 30, 2023 | |||||||||||||||||||||||||||||||||||
| Portfolio Company | Industry | Investments(1)(37) | Acquisition Date(44) | Coupon/Yield | Floor | Legal Maturity | Principal Value | Amortized Cost | Fair Value(2) | % of Net Assets | |||||||||||||||||||||||||
| Control Investments (greater than 25.00% voting control)(40) | |||||||||||||||||||||||||||||||||||
| CP Energy Services Inc. (20) | Energy Equipment & Services | First Lien Term Loan | 10/1/2017 | 14.50% (3M SOFR+ 9.00%) | 1.00 | 4/4/2027 | $ | 53,139 | $ | 53,139 | $ | 53,139 | 1.3% | (10)(39) | |||||||||||||||||||||
| First Lien Term Loan | 4/5/2022 | 14.50% (3M SOFR+ 9.00%) | 1.00 | 4/4/2027 | 6,827 | 6,827 | 6,827 | 0.2% | (10)(39) | ||||||||||||||||||||||||||
| First Lien Term Loan | 1/6/2023 | 14.50% (3M SOFR + 9.00%) | 1.00 | 4/4/2027 | 10,691 | 10,691 | 10,691 | 0.3% | (10)(39) | ||||||||||||||||||||||||||
| First Lien Term Loan A to Spartan Energy Services, LLC | 10/20/2014 | 13.36% PIK (1M SOFR+ 8.00%) | 1.00 | 12/31/2025 | 32,653 | 32,653 | 32,653 | 0.9% | (10)(39) | ||||||||||||||||||||||||||
Series A Preferred Units to Spartan Energy Holdings, Inc.(10,000 shares) | 9/25/2020 | 15.00% | — | N/A | — | 26,193 | 2,012 | 0.1% | (16) | ||||||||||||||||||||||||||
Series B Convertible Preferred Stock(790 shares) | 10/30/2015 | 16.00% | — | N/A | — | 63,225 | 8,698 | 0.2% | (16) | ||||||||||||||||||||||||||
Common Stock (102,924 shares) | 8/2/2013 | — | N/A | — | 86,240 | — | —% | (16) | |||||||||||||||||||||||||||
| 278,968 | 114,020 | 3.0% | |||||||||||||||||||||||||||||||||
| Credit Central Loan Company, LLC (21) | Consumer Finance | First Lien Term Loan | 12/28/2012 | 5.00% plus 5.00%PIK | — | 6/30/2025 | 77,749 | 76,643 | 73,642 | 2.0% | (14)(39) | ||||||||||||||||||||||||
Class A Units(14,867,312 units) | 12/28/2012 | — | N/A | — | 19,331 | — | —% | (14)(16) | |||||||||||||||||||||||||||
Preferred Class P Shares (11,520,481 units) | 7/1/2022 | 12.75% | — | N/A | — | 11,520 | — | —% | (14)(16) | ||||||||||||||||||||||||||
Net Revenues Interest(25% of Net Revenues) | 1/28/2015 | — | N/A | — | — | — | —% | (14)(16) | |||||||||||||||||||||||||||
| 107,494 | 73,642 | 2.0% | |||||||||||||||||||||||||||||||||
| Echelon Transportation, LLC | Aerospace & Defense | First Lien Term Loan | 3/31/2014 | 8.57% (1ML+ 4.00%) | 2.00 | 3/31/2026 | 56,600 | 56,600 | 56,600 | 1.5% | (10)(39) | ||||||||||||||||||||||||
Membership Interest(100%) | 3/31/2014 | — | N/A | — | 22,738 | — | —% | (16) | |||||||||||||||||||||||||||
Preferred Units (32,842,586 shares) | 1/31/2022 | — | N/A | — | 32,843 | 7,598 | 0.2% | (16) | |||||||||||||||||||||||||||
| 112,181 | 64,198 | 1.7% | |||||||||||||||||||||||||||||||||
| First Tower Finance Company LLC (23) | Consumer Finance | First Lien Term Loan to First Tower, LLC | 6/24/2014 | 10.00% plus 5.00% PIK | — | 2/18/2025 | 395,926 | 395,926 | 395,926 | 10.6% | (14)(39) | ||||||||||||||||||||||||
Class A Units (95,709,910 units) | 6/14/2012 | — | N/A | — | 31,146 | 202,456 | 5.4% | (14)(16) | |||||||||||||||||||||||||||
| 427,072 | 598,382 | 16.0% | |||||||||||||||||||||||||||||||||
| Freedom Marine Solutions, LLC (24) | Energy Equipment & Services | Membership Interest (100%) | 11/9/2006 | — | N/A | — | 46,142 | 12,710 | 0.3% | (16) | |||||||||||||||||||||||||
| 46,142 | 12,710 | 0.3% | |||||||||||||||||||||||||||||||||
| InterDent, Inc. | Health Care Providers & Services | First Lien Term Loan A/B | 8/1/2018 | 19.87% (1M SOFR+ 14.65%) | 2.00 | 9/5/2025 | 14,249 | 14,249 | 14,249 | 0.4% | (3) (10) | ||||||||||||||||||||||||
| First Lien Term Loan A | 8/3/2012 | 10.72% (1M SOFR+ 5.50%) | 1.00 | 9/5/2025 | 95,823 | 95,823 | 95,823 | 2.6% | (3) (10) | ||||||||||||||||||||||||||
| First Lien Term Loan B | 8/3/2012 | 12.00% PIK | — | 9/5/2025 | 183,107 | 183,107 | 183,107 | 4.8% | (39) | ||||||||||||||||||||||||||
Common Stock(99,900 shares) | 5/3/2019 | — | N/A | — | 45,118 | 164,788 | 4.4% | (16) | |||||||||||||||||||||||||||
| 338,297 | 457,967 | 12.2% | |||||||||||||||||||||||||||||||||
| Kickapoo Ranch Pet Resort | Diversified Consumer Services | Membership Interest (100%) | 8/26/2019 | — | N/A | — | 2,378 | 3,242 | 0.1% | ||||||||||||||||||||||||||
| 2,378 | 3,242 | 0.1% | |||||||||||||||||||||||||||||||||
| MITY, Inc. (25) | Commercial Services & Supplies | First Lien Term Loan A | 9/19/2013 | 12.50% (3M SOFR+ 7.00%) | 3.00 | 4/30/2025 | 32,074 | 32,074 | 32,074 | 0.9% | (3) (10)(39) | ||||||||||||||||||||||||
| First Lien Term Loan B | 6/23/2014 | 12.50% (3M SOFR+ 7.00%) plus 10.00% PIK | 3.00 | 4/30/2025 | 18,274 | 18,274 | 18,274 | 0.5% | (10)(39) | ||||||||||||||||||||||||||
| Unsecured Note to Broda Enterprises ULC | 9/19/2013 | 10.00% | — | 1/1/2028 | 5,435 | 7,200 | 7,200 | 0.2% | (14) | ||||||||||||||||||||||||||
Common Stock (42,053 shares) | 9/19/2013 | — | N/A | — | 27,349 | 10,630 | 0.3% | (16) | |||||||||||||||||||||||||||
| 84,897 | 68,178 | 1.9% | |||||||||||||||||||||||||||||||||
| June 30, 2023 | |||||||||||||||||||||||||||||||||||
| Portfolio Company | Industry | Investments(1)(37) | Acquisition Date(44) | Coupon/Yield | Floor | Legal Maturity | Principal Value | Amortized Cost | Fair Value(2) | % of Net Assets | |||||||||||||||||||||||||
| Control Investments (greater than 25.00% voting control)(40) | |||||||||||||||||||||||||||||||||||
| National Property REIT Corp. (26) | Equity Real Estate Investment Trusts (REITs) / Online Lending / Structured Finance | First Lien Term Loan A | 12/31/2018 | 6.94% (3M SOFR+ 1.44%) plus 3.53% PIK | 3.00 | 12/31/2023 | $ | 528,657 | $ | 528,657 | $ | 528,657 | 14.2% | (10)(39) | |||||||||||||||||||||
| First Lien Term Loan B | 12/31/2018 | 7.50% (3M SOFR+ 2.00%) plus 5.50% PIK | 3.00 | 12/31/2023 | 21,580 | 21,580 | 21,580 | 0.6% | (10)(39) | ||||||||||||||||||||||||||
| First Lien Term Loan C | 10/31/2019 | 15.50% (3M SOFR+ 10.00%) plus 2.25% PIK | 1.00 | 12/31/2023 | 200,600 | 200,600 | 200,600 | 5.4% | (10)(39) | ||||||||||||||||||||||||||
| First Lien Term Loan D | 6/19/2020 | 6.00% (3M SOFR+ 0.50%) plus 2.50% PIK | 3.00 | 12/31/2023 | 183,425 | 183,425 | 183,425 | 4.9% | (10)(39) | ||||||||||||||||||||||||||
| First Lien Term Loan E | 11/14/2022 | 7.50% (3M SOFR + 2.00%) plus 7.00% PIK | 5.00 | 12/31/2023 | 13,621 | 13,621 | 13,621 | 0.4% | (10)(39) | ||||||||||||||||||||||||||
| Residual Profit Interest | 12/31/2018 | — | N/A | — | — | 56,254 | 1.5% | (35) | |||||||||||||||||||||||||||
Common Stock (3,350,519 shares) | 12/31/2013 | — | N/A | — | 15,430 | 655,839 | 17.5% | (16)(45) | |||||||||||||||||||||||||||
| 963,313 | 1,659,976 | 44.5% | |||||||||||||||||||||||||||||||||
| Nationwide Loan Company LLC (27) | Consumer Finance | First Lien Term Loan | 6/18/2014 | 10.00% plus 10.00% PIK | — | 6/18/2024 | 22,597 | 22,597 | 22,597 | 0.6% | (14)(39) | ||||||||||||||||||||||||
Class A Units (38,550,460 units) | 1/31/2013 | — | N/A | — | 20,846 | 24,975 | 0.7% | (14)(16) | |||||||||||||||||||||||||||
| 43,443 | 47,572 | 1.3% | |||||||||||||||||||||||||||||||||
| NMMB, Inc. (28) | Media | First Lien Term Loan | 12/30/2019 | 14.00% (3M SOFR+ 8.50%) | 2.00 | 3/31/2027 | 29,723 | 29,723 | 29,723 | 0.8% | (3) (10) | ||||||||||||||||||||||||
Common Stock (21,418 shares) | 12/30/2019 | — | N/A | — | — | 64,457 | 1.7% | ||||||||||||||||||||||||||||
| 29,723 | 94,180 | 2.5% | |||||||||||||||||||||||||||||||||
| Pacific World Corporation (36) | Personal Products | First Lien Revolving Line of Credit - $26,000 Commitment | 9/26/2014 | 12.61% PIK (1M SOFR+ 7.25%) | 1.00 | 9/26/2025 | 30,458 | 30,458 | 30,458 | 0.8% | (10)(15)(39) | ||||||||||||||||||||||||
| First Lien Term Loan A | 12/31/2014 | 10.61% PIK (1M SOFR+ 5.25%) | 1.00 | 9/26/2025 | 59,122 | 59,122 | 35,288 | 0.9% | (10)(39) | ||||||||||||||||||||||||||
Convertible Preferred Equity (344,882 shares) | 6/15/2018 | 6.50% PIK | — | N/A | — | 189,295 | — | —% | (16) | ||||||||||||||||||||||||||
Common Stock (6,778,414 shares) | 9/29/2017 | — | N/A | — | — | — | —% | (16) | |||||||||||||||||||||||||||
| 278,875 | 65,746 | 1.7% | |||||||||||||||||||||||||||||||||
| R-V Industries, Inc. | Machinery | First Lien Term Loan | 12/15/2020 | 14.50% (3M SOFR+ 9.00%) | 1.00 | 12/15/2028 | 33,622 | 33,622 | 33,622 | 0.9% | (3) (10) | ||||||||||||||||||||||||
Common Stock (745,107 shares) | 6/26/2007 | — | N/A | — | 6,866 | 47,886 | 1.3% | (16) | |||||||||||||||||||||||||||
| 40,488 | 81,508 | 2.2% | |||||||||||||||||||||||||||||||||
| Universal Turbine Parts, LLC (34) | Trading Companies & Distributors | First Lien Delayed Draw Term Loan - $6,965 Commitment | 2/28/2019 | 13.25% (3M SOFR+ 7.75%) | 2.50 | 4/5/2025 | 3,109 | 3,109 | 3,109 | 0.1% | (10)(15) | ||||||||||||||||||||||||
| First Lien Term Loan A | 7/22/2016 | 11.25% (3M SOFR+ 5.75%) | 1.00 | 4/5/2025 | 29,575 | 29,575 | 29,575 | 0.8% | (3) (10) | ||||||||||||||||||||||||||
Preferred Units(62,897,245 units) | 3/31/2021 | — | N/A | — | 32,500 | 12,381 | 0.3% | (16) | |||||||||||||||||||||||||||
Common Stock (10,000 units) | 12/10/2018 | — | N/A | — | — | — | —% | (16) | |||||||||||||||||||||||||||
| 65,184 | 45,065 | 1.2% | |||||||||||||||||||||||||||||||||
| USES Corp. (30) | Commercial Services & Supplies | First Lien Term Loan | 12/30/2020 | 14.36% (1M SOFR + 9.00%) | 1.00 | 7/29/2024 | 2,000 | 2,000 | 1,922 | 0.1% | (10) | ||||||||||||||||||||||||
| First Lien Equipment Term Loan | 8/3/2022 | 14.36% (1M SOFR + 9.00%) | 1.00 | 7/29/2024 | 10,674 | 10,674 | 10,257 | 0.3% | (10)(39) | ||||||||||||||||||||||||||
| First Lien Term Loan A | 3/31/2014 | 9.00% PIK | — | 7/29/2024 | 66,107 | 30,651 | 7,348 | 0.2% | (9) | ||||||||||||||||||||||||||
| First Lien Term Loan B | 3/31/2014 | 15.50% PIK | — | 7/29/2024 | 105,882 | 35,568 | — | —% | (9) | ||||||||||||||||||||||||||
Common Stock (268,962 shares) | 6/15/2016 | — | N/A | — | — | — | —% | (16) | |||||||||||||||||||||||||||
| 78,893 | 19,527 | 0.6% | |||||||||||||||||||||||||||||||||
| Valley Electric Company, Inc. (31) | Construction & Engineering | First Lien Term Loan to Valley Electric Co. of Mt. Vernon, Inc. | 12/31/2012 | 10.50% (3M SOFR+ 5.00%) plus 2.50% PIK | 3.00 | 12/31/2024 | 10,452 | 10,452 | 10,452 | 0.3% | (3) (10)(39) | ||||||||||||||||||||||||
| First Lien Term Loan | 6/24/2014 | 8.00% plus 10.00% PIK | — | 4/30/2028 | 35,872 | 35,872 | 35,872 | 1.0% | (3) (39) | ||||||||||||||||||||||||||
| First Lien Term Loan B | 3/28/2022 | 4.50% plus 8.00% PIK | — | 4/30/2028 | 32,771 | 32,771 | 32,771 | 0.9% | (3) (39) | ||||||||||||||||||||||||||
Consolidated Revenue Interest (2.00%) | 6/22/2018 | — | N/A | — | — | 889 | —% | (12) | |||||||||||||||||||||||||||
Common Stock (50,000 shares) | 12/31/2012 | — | N/A | — | 12,053 | 85,800 | 2.3% | ||||||||||||||||||||||||||||
| 91,148 | 165,784 | 4.5% | |||||||||||||||||||||||||||||||||
| Total Control Investments | $ | 2,988,496 | $ | 3,571,697 | 95.7% | ||||||||||||||||||||||||||||||
| June 30, 2023 | |||||||||||||||||||||||||||||||||||
| Portfolio Company | Industry | Investments(1)(37) | Acquisition Date(44) | Coupon/Yield | Floor | Legal Maturity | Principal Value | Amortized Cost | Fair Value(2) | % of Net Assets | |||||||||||||||||||||||||
| PORTFOLIO INVESTMENTS | |||||||||||||||||||||||||||||||||||
| Non-Control/Non-Affiliate Investments (less than 5.00% voting control) | |||||||||||||||||||||||||||||||||||
| Dukes Root Control Inc. | Commercial Services & Supplies | First Lien Revolving Line of Credit - $4,464 Commitment | 12/8/2022 | 11.56% (6M SOFR + 6.50%) | 1.00 | 12/8/2028 | $ | 357 | $ | 357 | $ | 357 | — | % | (8)(10)(15) | ||||||||||||||||||||
First Lien Revolving Line of Credit - $4,464 Commitment | 12/8/2022 | 11.72% (3M SOFR + 6.50%) | 1.00 | 12/8/2028 | 1,429 | 1,429 | 1,429 | — | % | (8)(10)(15) | |||||||||||||||||||||||||
First Lien Delayed Draw Term Loan - $8,929 Commitment | 12/8/2022 | 11.56% (6M SOFR + 6.50%) | 1.00 | 12/8/2028 | 2,054 | 2,054 | 2,054 | 0.1 | % | (8)(10)(15) | |||||||||||||||||||||||||
| First Lien Term Loan | 12/8/2022 | 11.56% (6M SOFR + 6.50%) | 1.00 | 12/8/2028 | 36,424 | 36,424 | 36,424 | 1.0 | % | (3)(8)(10) | |||||||||||||||||||||||||
| 40,264 | 40,264 | 1.1 | % | ||||||||||||||||||||||||||||||||
| Easy Gardener Products, Inc. | Household Durables | Class A Units of EZG Holdings, LLC(200 units) | 6/11/2020 | — | N/A | — | 313 | — | — | % | (16) | ||||||||||||||||||||||||
Class B Units of EZG Holdings, LLC (12,525 units) | 6/11/2020 | — | N/A | — | 1,688 | — | — | % | (16) | ||||||||||||||||||||||||||
| 2,001 | — | — | % | ||||||||||||||||||||||||||||||||
| Engine Group, Inc. (7) | Media | First Lien Term Loan | 11/17/2020 | 16.25% (PRIME+ 8.00%) | 1.00 | 11/17/2023 | 3,546 | 3,546 | 1,447 | — | % | (8)(9)(10) | |||||||||||||||||||||||
Class B Common Units (1,039,554 units) | 11/17/2020 | — | N/A | — | 26,991 | — | — | % | (8)(16) | ||||||||||||||||||||||||||
| 30,537 | 1,447 | — | % | ||||||||||||||||||||||||||||||||
| Engineered Machinery Holdings, Inc. | Machinery | Incremental Amendment No. 2 Second Lien Term Loan | 5/6/2021 | 12.04% (3ML+ 6.50%) | 0.75 | 7/18/2025 | 5,000 | 4,988 | 5,000 | 0.1 | % | (3)(8)(10) | |||||||||||||||||||||||
| Incremental Amendment No. 3 Second Lien Term Loan | 8/6/2021 | 11.54% (3ML+ 6.00%) | 0.75 | 5/21/2029 | 5,000 | 5,000 | 4,928 | 0.1 | % | (3)(8)(10) | |||||||||||||||||||||||||
| 9,988 | 9,928 | 0.2 | % | ||||||||||||||||||||||||||||||||
| Enseo Acquisition, Inc. | IT Services | First Lien Term Loan | 6/2/2021 | 13.50% (3M SOFR+ 8.00%) | 1.00 | 6/2/2026 | 53,666 | 53,666 | 52,658 | 1.4 | % | (3) (10) | |||||||||||||||||||||||
| 53,666 | 52,658 | 1.4 | % | ||||||||||||||||||||||||||||||||
| Eze Castle Integration, Inc. | IT Services | First Lien Delayed Draw Term Loan - $1,786 Commitment | 7/15/2020 | 15.22% (3ML+ 10.00%) plus 0.75% PIK | 1.50 | 7/15/2025 | 892 | 892 | 892 | — | % | (10)(15)(39) | |||||||||||||||||||||||
| First Lien Term Loan | 7/15/2020 | 15.27% (3ML+ 10.00%) plus 0.75% PIK | 1.50 | 7/15/2025 | 46,547 | 46,547 | 46,547 | 1.2 | % | (3) (10)(39) | |||||||||||||||||||||||||
| 47,439 | 47,439 | 1.2 | % | ||||||||||||||||||||||||||||||||
| Faraday Buyer, LLC | Electrical Equipment | First Lien Delayed Draw Term Loan - $5,833 Commitment | 10/11/2022 | 11.86% (6M SOFR + 7.00%) | 1.00 | 10/11/2028 | 4,457 | 4,392 | 4,457 | 0.1 | % | (8)(10)(15) | |||||||||||||||||||||||
| First Lien Term Loan | 10/11/2022 | 11.86% (6M SOFR + 7.00%) | 1.00 | 10/11/2028 | 64,007 | 64,007 | 64,007 | 1.7 | % | (3)(8)(10) | |||||||||||||||||||||||||
| 68,399 | 68,464 | 1.8 | % | ||||||||||||||||||||||||||||||||
| First Brands Group | Automobile Components | First Lien Term Loan | 3/24/2021 | 10.25% (6M SOFR+ 5.00%) | 1.00 | 3/30/2027 | 22,354 | 22,284 | 22,209 | 0.6 | % | (3)(8)(10) | |||||||||||||||||||||||
| Second Lien Term Loan | 3/24/2021 | 13.60% (6ML+ 8.50%) | 1.00 | 3/30/2028 | 37,000 | 36,676 | 36,807 | 1.0 | % | (3)(8)(10) | |||||||||||||||||||||||||
| 58,960 | 59,016 | 1.6 | % | ||||||||||||||||||||||||||||||||
| Galaxy XV CLO, Ltd. | Structured Finance | Subordinated Structured Note | 2/13/2013 | Residual Interest, current yield 11.57% | — | 10/15/2030 | 50,524 | 32,622 | 25,211 | 0.8 | % | (5) (14) | |||||||||||||||||||||||
| 32,622 | 25,211 | 0.8 | % | ||||||||||||||||||||||||||||||||
| Galaxy XXVII CLO, Ltd. | Structured Finance | Subordinated Structured Note | 9/30/2013 | Residual Interest, current yield 18.59% | — | 5/16/2031 | 24,575 | 16,322 | 13,430 | 0.4 | % | (5) (14) | |||||||||||||||||||||||
| 16,322 | 13,430 | 0.4 | % | ||||||||||||||||||||||||||||||||
| Galaxy XXVIII CLO, Ltd. | Structured Finance | Subordinated Structured Note | 5/30/2014 | Residual Interest, current yield 18.42% | — | 7/15/2031 | 39,905 | 27,431 | 20,825 | 0.6 | % | (5) (14) | |||||||||||||||||||||||
| 27,431 | 20,825 | 0.6 | % | ||||||||||||||||||||||||||||||||
| Halcyon Loan Advisors Funding 2012-1 Ltd. | Structured Finance | Subordinated Structured Note | 8/7/2012 | Residual Interest, current yield 0.00% | — | 8/15/2023 | 23,188 | 3,704 | — | — | % | (5) (14)(17) | |||||||||||||||||||||||
| 3,704 | — | — | % | ||||||||||||||||||||||||||||||||
| Halcyon Loan Advisors Funding 2014-2 Ltd. | Structured Finance | Subordinated Structured Note | 4/14/2014 | Residual Interest, current yield 0.00% | — | 4/28/2025 | 41,164 | 21,322 | 18 | — | % | (5) (14)(17) | |||||||||||||||||||||||
| 21,322 | 18 | — | % | ||||||||||||||||||||||||||||||||
| Industry | 1st Lien Term Loan | 2nd Lien Term Loan | Subordinated Structured Notes | Unsecured Debt | Equity (B) | Cost Total | ||||||||||||||
| Control Investments | ||||||||||||||||||||
| Aerospace & Defense | $ | 54,739 | $ | — | $ | — | $ | — | $ | 55,581 | $ | 110,320 | ||||||||
| Commercial Services & Supplies | 132,841 | — | — | 7,200 | 27,349 | 167,390 | ||||||||||||||
| Construction & Engineering | 82,235 | — | — | — | 12,052 | 94,287 | ||||||||||||||
| Consumer Finance | 522,576 | — | — | — | 82,842 | 605,418 | ||||||||||||||
| Diversified Consumer Services | 1,500 | — | — | — | 2,378 | 3,878 | ||||||||||||||
| Energy Equipment & Services | 114,906 | — | — | — | 221,800 | 336,706 | ||||||||||||||
| Equity Real Estate Investment Trusts (REITs) | 838,338 | — | — | — | 20,030 | 858,368 | ||||||||||||||
| Health Care Providers & Services | 310,353 | — | — | — | 45,118 | 355,471 | ||||||||||||||
| Machinery | 37,322 | — | — | — | 6,866 | 44,188 | ||||||||||||||
| Media | 29,723 | — | — | — | — | 29,723 | ||||||||||||||
| Online Lending | 20,630 | — | — | — | — | 20,630 | ||||||||||||||
| Personal Products | 96,503 | — | — | — | 221,795 | 318,298 | ||||||||||||||
| Trading Companies & Distributors | 35,149 | — | — | — | 32,500 | 67,649 | ||||||||||||||
| Structured Finance | 210,000 | — | — | — | — | 210,000 | ||||||||||||||
| Total Control Investments | $ | 2,486,815 | $ | — | $ | — | $ | 7,200 | $ | 728,311 | $ | 3,222,326 | ||||||||
| Affiliate Investments | ||||||||||||||||||||
| Commercial Services & Supplies | $ | — | $ | — | $ | — | $ | — | $ | 10,162 | $ | 10,162 | ||||||||
| Total Affiliate Investments | $ | — | $ | — | $ | — | $ | — | $ | 10,162 | $ | 10,162 | ||||||||
| Non-Control/Non-Affiliate Investments | ||||||||||||||||||||
| Air Freight & Logistics | $ | 93,006 | $ | 95,000 | $ | — | $ | — | $ | — | $ | 188,006 | ||||||||
| Automobile Components | 22,107 | 66,806 | — | — | 25,697 | 114,610 | ||||||||||||||
| Building Products | — | 35,000 | — | — | — | 35,000 | ||||||||||||||
| Capital Markets | — | 42,500 | — | — | — | 42,500 | ||||||||||||||
| Commercial Services & Supplies | 216,753 | 153,316 | — | — | 2,750 | 372,819 | ||||||||||||||
| Communications Equipment | 20,217 | 54,938 | — | — | — | 75,155 | ||||||||||||||
| Distributors | 222,388 | 89,853 | — | — | — | 312,241 | ||||||||||||||
| Diversified Consumer Services | 91,407 | — | — | — | 23,898 | 115,305 | ||||||||||||||
| Diversified Financial Services | 45,155 | — | — | — | — | 45,155 | ||||||||||||||
| Diversified Telecommunication Services | 37,333 | 122,113 | — | — | — | 159,446 | ||||||||||||||
| Electrical Equipment | 62,147 | — | — | — | — | 62,147 | ||||||||||||||
| Food & Staples Retailing | 27,025 | — | — | — | — | 27,025 | ||||||||||||||
| Food Products | — | 131,467 | — | — | — | 131,467 | ||||||||||||||
| Health Care Providers & Services | 239,338 | 124,493 | — | — | 1,546 | 365,377 | ||||||||||||||
| Health Care Technology | 133,938 | — | — | — | — | 133,938 | ||||||||||||||
| Hotels, Restaurants & Leisure | 25,055 | — | — | — | — | 25,055 | ||||||||||||||
| Household Durables | 121,683 | 29,827 | — | — | 3,501 | 155,011 | ||||||||||||||
| Interactive Media & Services | 138,831 | — | — | — | — | 138,831 | ||||||||||||||
| Internet & Direct Marketing Retail | 2,421 | 18,496 | — | — | — | 20,917 | ||||||||||||||
| IT Services | 197,038 | 148,375 | — | — | — | 345,413 | ||||||||||||||
| Leisure Products | 88,398 | — | — | — | 1 | 88,399 | ||||||||||||||
| Machinery | 51,325 | 9,992 | — | — | — | 61,317 | ||||||||||||||
| Media | 40,357 | — | — | — | — | 40,357 | ||||||||||||||
| Pharmaceuticals | 97,707 | — | — | — | — | 97,707 | ||||||||||||||
| Professional Services | 87,699 | 124,266 | — | — | — | 211,965 | ||||||||||||||
| Software | — | 52,391 | — | — | — | 52,391 | ||||||||||||||
| Textiles, Apparel & Luxury Goods | 174,347 | — | — | — | — | 174,347 | ||||||||||||||
| Structured Finance (A) | — | — | 864,283 | — | — | 864,283 | ||||||||||||||
| Total Non-Control/Non-Affiliate | $ | 2,235,675 | $ | 1,298,833 | $ | 864,283 | $ | — | $ | 57,393 | $ | 4,456,184 | ||||||||
| Total Portfolio Investment Cost | $ | 4,722,490 | $ | 1,298,833 | $ | 864,283 | $ | 7,200 | $ | 795,866 | $ | 7,688,672 | ||||||||
| Industry | 1st Lien Term Loan | 2nd Lien Term Loan | Subordinated Structured Notes | Unsecured Debt | Equity (B) | Fair Value Total | Fair Value % of Net Assets Applicable to Common Stock | ||||||||||||||||
| Control Investments | |||||||||||||||||||||||
| Aerospace & Defense | $ | 54,739 | $ | — | $ | — | $ | — | $ | 9,188 | $ | 63,927 | 1.7 | % | |||||||||
| Commercial Services & Supplies | 74,637 | — | — | 7,200 | 22,060 | 103,897 | 2.8 | % | |||||||||||||||
| Construction & Engineering | 82,235 | — | — | — | 236,035 | 318,270 | 8.5 | % | |||||||||||||||
| Consumer Finance | 516,677 | — | — | — | 193,137 | 709,814 | 19.0 | % | |||||||||||||||
| Diversified Consumer Services | 1,500 | — | — | — | 3,242 | 4,742 | 0.1 | % | |||||||||||||||
| Energy Equipment & Services | 99,673 | — | — | — | 12,522 | 112,195 | 3.0 | % | |||||||||||||||
| Equity Real Estate Investment Trusts (REITs) | 838,338 | — | — | — | 595,542 | 1,433,880 | 38.3 | % | |||||||||||||||
| Health Care Providers & Services | 310,353 | — | — | — | 160,397 | 470,750 | 12.6 | % | |||||||||||||||
| Machinery | 37,322 | — | — | — | 61,327 | 98,649 | 2.6 | % | |||||||||||||||
| Media | 29,723 | — | — | — | 64,503 | 94,226 | 2.5 | % | |||||||||||||||
| Online Lending | 20,630 | — | — | — | — | 20,630 | 0.6 | % | |||||||||||||||
| Personal Products | 96,503 | — | — | — | 8,392 | 104,895 | 2.8 | % | |||||||||||||||
| Trading Companies & Distributors | 35,149 | — | — | — | 33,095 | 68,244 | 1.8 | % | |||||||||||||||
| Structured Finance (A) | 210,000 | — | — | — | — | 210,000 | 5.6 | % | |||||||||||||||
| Total Control Investments | $ | 2,407,479 | $ | — | $ | — | $ | 7,200 | $ | 1,399,440 | $ | 3,814,119 | 101.9 | % | |||||||||
| Fair Value % of Net Assets | 64.3 | % | — | % | — | % | 0.2 | % | 37.4 | % | 101.9 | % | |||||||||||
| Affiliate Investments | |||||||||||||||||||||||
| Commercial Services & Supplies | $ | — | $ | — | $ | — | $ | — | $ | 13,805 | $ | 13,805 | 0.4 | % | |||||||||
| Total Affiliate Investments | $ | — | $ | — | $ | — | $ | — | $ | 13,805 | $ | 13,805 | 0.4 | % | |||||||||
| Fair Value % of Net Assets | — | % | — | % | — | % | — | % | 0.4 | % | 0.4 | % | |||||||||||
| Non-Control/Non-Affiliate Investments | |||||||||||||||||||||||
| Air Freight & Logistics | $ | 86,942 | $ | 90,409 | $ | — | $ | — | $ | — | $ | 177,351 | 4.7 | % | |||||||||
| Automobile Components | 22,126 | 66,996 | — | — | 1,046 | 90,168 | 2.4 | % | |||||||||||||||
| Building Products | — | 34,272 | — | — | — | 34,272 | 0.9 | % | |||||||||||||||
| Capital Markets | — | 42,500 | — | — | — | 42,500 | 1.1 | % | |||||||||||||||
| Commercial Services & Supplies | 216,711 | 153,500 | — | — | 17,249 | 387,460 | 10.4 | % | |||||||||||||||
| Communications Equipment | 19,992 | 44,203 | — | — | — | 64,195 | 1.7 | % | |||||||||||||||
| Distributors | 222,345 | 9,969 | — | — | 39,833 | 272,147 | 7.3 | % | |||||||||||||||
| Diversified Consumer Services | 75,677 | — | — | — | 5,923 | 81,600 | 2.2 | % | |||||||||||||||
| Diversified Financial Services | 45,155 | — | — | — | — | 45,155 | 1.2 | % | |||||||||||||||
| Diversified Telecommunication Services | 37,440 | 122,670 | — | — | — | 160,110 | 4.3 | % | |||||||||||||||
| Electrical Equipment | 62,147 | — | — | — | — | 62,147 | 1.7 | % | |||||||||||||||
| Food & Staples Retailing | 25,239 | — | — | — | — | 25,239 | 0.7 | % | |||||||||||||||
| Food Products | — | 125,930 | — | — | — | 125,930 | 3.4 | % | |||||||||||||||
| Health Care Providers & Services | 236,732 | 115,686 | — | — | 2,226 | 354,644 | 9.5 | % | |||||||||||||||
| Health Care Technology | 133,486 | — | — | — | — | 133,486 | 3.6 | % | |||||||||||||||
| Hotels, Restaurants & Leisure | 19,746 | — | — | — | — | 19,746 | 0.5 | % | |||||||||||||||
| Household Durables | 121,983 | 23,000 | — | — | 1,180 | 146,163 | 3.9 | % | |||||||||||||||
| Interactive Media & Services | 138,831 | — | — | — | — | 138,831 | 3.7 | % | |||||||||||||||
| Internet & Direct Marketing Retail | 2,406 | 14,891 | — | — | — | 17,297 | 0.5 | % | |||||||||||||||
| IT Services | 196,376 | 142,976 | — | — | — | 339,352 | 9.1 | % | |||||||||||||||
| Leisure Products | 88,163 | — | — | — | — | 88,163 | 2.4 | % | |||||||||||||||
| Machinery | 51,612 | 10,000 | — | — | — | 61,612 | 1.6 | % | |||||||||||||||
| Media | 40,357 | — | — | — | — | 40,357 | 1.1 | % | |||||||||||||||
| Pharmaceuticals | 98,186 | — | — | — | — | 98,186 | 2.6 | % | |||||||||||||||
| Professional Services | 84,309 | 89,669 | — | — | — | 173,978 | 4.6 | % | |||||||||||||||
| Software | — | 51,866 | — | — | — | 51,866 | 1.4 | % | |||||||||||||||
| Industry | 1st Lien Term Loan | 2nd Lien Term Loan | Subordinated Structured Notes | Unsecured Debt | Equity (B) | Fair Value Total | Fair Value % of Net Assets Applicable to Common Stock | ||||||||||||||||
| Textiles, Apparel & Luxury Goods | 174,347 | — | — | — | — | 174,347 | 4.7 | % | |||||||||||||||
| Structured Finance (A) | — | — | 572,486 | — | — | 572,486 | 15.3 | % | |||||||||||||||
| Total Non-Control/Non-Affiliate | $ | 2,200,308 | $ | 1,138,537 | $ | 572,486 | $ | — | $ | 67,457 | $ | 3,978,788 | 106.3 | % | |||||||||
| Fair Value % of Net Assets | 58.8 | % | 30.4 | % | 15.3 | % | — | % | 1.8 | % | 106.3 | % | |||||||||||
| Total Portfolio | $ | 4,607,787 | $ | 1,138,537 | $ | 572,486 | $ | 7,200 | $ | 1,480,702 | $ | 7,806,712 | 208.6 | % | |||||||||
| Fair Value % of Net Assets | 123.1 | % | 30.4 | % | 15.3 | % | 0.2 | % | 39.6 | % | 208.6 | % | |||||||||||
| Industry | 1st Lien Term Loan | 2nd Lien Term Loan | Subordinated Structured Notes | Unsecured Debt | Equity (B) | Cost Total | ||||||||||||||
| Control Investments | ||||||||||||||||||||
| Aerospace & Defense | $ | 56,600 | $ | — | $ | — | $ | — | $ | 55,581 | $ | 112,181 | ||||||||
| Commercial Services & Supplies | 129,241 | — | — | 7,200 | 27,349 | 163,790 | ||||||||||||||
| Construction & Engineering | 79,095 | — | — | — | 12,053 | 91,148 | ||||||||||||||
| Consumer Finance | 495,166 | — | — | — | 82,843 | 578,009 | ||||||||||||||
| Diversified Consumer Services | — | — | — | — | 2,378 | 2,378 | ||||||||||||||
| Energy Equipment & Services | 103,310 | — | — | — | 221,800 | 325,110 | ||||||||||||||
| Equity Real Estate Investment Trusts (REITs) | 725,703 | — | — | — | 15,430 | 741,133 | ||||||||||||||
| Health Care Providers & Services | 293,179 | — | — | — | 45,118 | 338,297 | ||||||||||||||
| Machinery | 33,622 | — | — | — | 6,866 | 40,488 | ||||||||||||||
| Media | 29,723 | — | — | — | — | 29,723 | ||||||||||||||
| Online Lending | 21,580 | — | — | — | — | 21,580 | ||||||||||||||
| Personal Products | 89,580 | — | — | — | 189,295 | 278,875 | ||||||||||||||
| Trading Companies & Distributors | 32,684 | — | — | — | 32,500 | 65,184 | ||||||||||||||
| Structured Finance (A) | 200,600 | — | — | — | — | 200,600 | ||||||||||||||
| Total Control Investments | $ | 2,290,083 | $ | — | $ | — | $ | 7,200 | $ | 691,213 | $ | 2,988,496 | ||||||||
| Affiliate Investments | ||||||||||||||||||||
| Commercial Services & Supplies | $ | — | $ | — | $ | — | $ | — | $ | 8,855 | $ | 8,855 | ||||||||
| Total Affiliate Investments | $ | — | $ | — | $ | — | $ | — | $ | 8,855 | $ | 8,855 | ||||||||
| Non-Control/Non-Affiliate Investments | ||||||||||||||||||||
| Air Freight & Logistics | $ | 93,171 | $ | 95,000 | $ | — | $ | — | $ | — | $ | 188,171 | ||||||||
| Auto Components | 22,284 | 86,600 | — | — | 25,697 | 134,581 | ||||||||||||||
| Building Products | — | 35,000 | — | — | — | 35,000 | ||||||||||||||
| Capital Markets | — | 42,500 | — | — | — | 42,500 | ||||||||||||||
| Commercial Services & Supplies | 216,363 | 185,374 | — | — | 1,500 | 403,237 | ||||||||||||||
| Communications Equipment | 9,249 | 50,603 | — | — | — | 59,852 | ||||||||||||||
| Consumer Finance | 47,024 | — | — | — | — | 47,024 | ||||||||||||||
| Distributors | 198,876 | 89,178 | — | — | — | 288,054 | ||||||||||||||
| Diversified Consumer Services | 87,280 | 191,616 | — | — | — | 278,896 | ||||||||||||||
| Diversified Financial Services | 36,504 | — | — | — | — | 36,504 | ||||||||||||||
| Diversified Telecommunication Services | 40,283 | 121,956 | — | — | — | 162,239 | ||||||||||||||
| Electrical Equipment | 68,399 | — | — | — | — | 68,399 | ||||||||||||||
| Food & Staples Retailing | 27,139 | — | — | — | — | 27,139 | ||||||||||||||
| Food Products | — | 134,889 | — | — | — | 134,889 | ||||||||||||||
| Health Care Equipment & Supplies | — | 7,488 | — | — | — | 7,488 | ||||||||||||||
| Health Care Providers & Services | 188,179 | 159,791 | — | — | 1,546 | 349,516 | ||||||||||||||
| Health Care Technology | 129,684 | — | — | — | — | 129,684 | ||||||||||||||
| Hotels, Restaurants & Leisure | 21,701 | — | — | — | — | 21,701 | ||||||||||||||
| Household Durables | 126,547 | 29,806 | — | — | 3,501 | 159,854 | ||||||||||||||
| Household Products | — | — | — | — | — | — | ||||||||||||||
| Industry | 1st Lien Term Loan | 2nd Lien Term Loan | Subordinated Structured Notes | Unsecured Debt | Equity (B) | Cost Total | ||||||||||||||
| Insurance | — | — | — | — | — | — | ||||||||||||||
| Interactive Media & Services | 160,281 | — | — | — | — | 160,281 | ||||||||||||||
| Internet & Direct Marketing Retail | 2,406 | 18,081 | — | — | — | 20,487 | ||||||||||||||
| IT Services | 209,832 | 148,150 | — | — | — | 357,982 | ||||||||||||||
| Leisure Products | 69,693 | — | — | — | 1 | 69,694 | ||||||||||||||
| Machinery | 52,797 | 9,988 | — | — | — | 62,785 | ||||||||||||||
| Media | 46,695 | — | — | — | 26,991 | 73,686 | ||||||||||||||
| Paper & Forest Products | — | — | — | — | — | — | ||||||||||||||
| Pharmaceuticals | 99,269 | — | — | — | — | 99,269 | ||||||||||||||
| Professional Services | 87,757 | 123,936 | — | — | — | 211,693 | ||||||||||||||
| Software | — | 52,350 | — | — | — | 52,350 | ||||||||||||||
| Technology Hardware, Storage & Peripherals | — | — | — | — | — | — | ||||||||||||||
| Textiles, Apparel & Luxury Goods | 158,530 | 8,945 | — | — | — | 167,475 | ||||||||||||||
| Structured Finance | — | — | 952,815 | — | — | 952,815 | ||||||||||||||
| Total Non-Control/Non-Affiliate | $ | 2,199,943 | $ | 1,591,251 | $ | 952,815 | $ | — | $ | 59,236 | $ | 4,803,245 | ||||||||
| Total Portfolio Investment Cost | $ | 4,490,026 | $ | 1,591,251 | $ | 952,815 | $ | 7,200 | $ | 759,304 | $ | 7,800,596 | ||||||||
| Industry | 1st Lien Term Loan | 2nd Lien Term Loan | Subordinated Structured Notes | Unsecured Debt | Equity (B) | Fair Value Total | Fair Value % of Net Assets | ||||||||||||||||
| Control Investments | |||||||||||||||||||||||
| Aerospace & Defense | $ | 56,600 | $ | — | $ | — | $ | — | $ | 7,598 | $ | 64,198 | 1.7 | % | |||||||||
| Commercial Services & Supplies | 69,875 | — | — | 7,200 | 10,630 | 87,705 | 2.3 | % | |||||||||||||||
| Construction & Engineering | 79,095 | — | — | — | 86,689 | 165,784 | 4.4 | % | |||||||||||||||
| Consumer Finance | 492,165 | — | — | — | 227,431 | 719,596 | 19.3 | % | |||||||||||||||
| Diversified Consumer Services | — | — | — | — | 3,242 | 3,242 | 0.1 | % | |||||||||||||||
| Energy Equipment & Services | 103,310 | — | — | — | 23,420 | 126,730 | 3.4 | % | |||||||||||||||
| Equity Real Estate Investment Trusts (REITs) | 725,703 | — | — | — | 712,093 | 1,437,796 | 38.5 | % | |||||||||||||||
| Health Care Providers & Services | 293,179 | — | — | — | 164,788 | 457,967 | 12.3 | % | |||||||||||||||
| Machinery | 33,622 | — | — | — | 47,886 | 81,508 | 2.2 | % | |||||||||||||||
| Media | 29,723 | — | — | — | 64,457 | 94,180 | 2.5 | % | |||||||||||||||
| Online Lending | 21,580 | — | — | — | — | 21,580 | 0.6 | % | |||||||||||||||
| Personal Products | 65,746 | — | — | — | — | 65,746 | 1.8 | % | |||||||||||||||
| Trading Companies & Distributors | 32,684 | — | — | — | 12,381 | 45,065 | 1.2 | % | |||||||||||||||
| Structured Finance (A) | 200,600 | — | — | — | — | 200,600 | 5.4 | % | |||||||||||||||
| Total Control Investments | $ | 2,203,882 | $ | — | $ | — | $ | 7,200 | $ | 1,360,615 | $ | 3,571,697 | 95.7 | % | |||||||||
| Fair Value % of Net Assets | 59.0 | % | — | % | — | % | 0.2 | % | 36.5 | % | 95.7 | % | |||||||||||
| Affiliate Investments | |||||||||||||||||||||||
| Commercial Services & Supplies | $ | — | $ | — | $ | — | $ | — | $ | 10,397 | $ | 10,397 | 0.3 | % | |||||||||
| Diversified Consumer Services | — | — | — | — | — | — | — | % | |||||||||||||||
| Textiles, Apparel & Luxury Goods | — | — | — | — | — | — | — | % | |||||||||||||||
| Total Affiliate Investments | $ | — | $ | — | $ | — | $ | — | $ | 10,397 | $ | 10,397 | 0.3 | % | |||||||||
| Fair Value % of Net Assets | — | % | — | % | — | % | — | % | 0.3 | % | 0.3 | % | |||||||||||
| Non-Control/Non-Affiliate Investments | |||||||||||||||||||||||
| Air Freight & Logistics | $ | 93,946 | $ | 95,000 | $ | — | $ | — | $ | — | $ | 188,946 | 5.1 | % | |||||||||
| Auto Components | 22,209 | 86,160 | — | — | 1,156 | 109,525 | 2.9 | % | |||||||||||||||
| Commercial Services & Supplies | 215,887 | 182,242 | — | — | 14,627 | 412,756 | 11.1 | % | |||||||||||||||
| Communications Equipment | 9,594 | 50,083 | — | — | — | 59,677 | 1.6 | % | |||||||||||||||
| Building Products | — | 33,120 | — | — | — | 33,120 | 0.9 | % | |||||||||||||||
| Capital Markets | — | 39,984 | — | — | — | 39,984 | 1.1 | % | |||||||||||||||
| Consumer Finance | 17,039 | — | — | — | — | 17,039 | 0.5 | % | |||||||||||||||
| Distributors | 197,713 | 6,988 | — | — | 39,123 | 243,824 | 6.5 | % | |||||||||||||||
| Diversified Consumer Services | 86,347 | — | — | — | — | 86,347 | 2.2 | % | |||||||||||||||
| Industry | 1st Lien Term Loan | 2nd Lien Term Loan | Subordinated Structured Notes | Unsecured Debt | Equity (B) | Fair Value Total | Fair Value % of Net Assets | ||||||||||||||||
| Diversified Financial Services | 36,504 | — | — | — | — | 36,504 | 1.0 | % | |||||||||||||||
| Diversified Telecommunication Services | 40,348 | 121,328 | — | — | — | 161,676 | 4.3 | % | |||||||||||||||
| Electrical Equipment | 68,464 | — | — | — | — | 68,464 | 1.7 | % | |||||||||||||||
| Food & Staples Retailing | 26,828 | — | — | — | — | 26,828 | 0.7 | % | |||||||||||||||
| Food Products | — | 122,003 | — | — | — | 122,003 | 3.3 | % | |||||||||||||||
| Health Care Equipment & Supplies | — | 7,500 | — | — | — | 7,500 | 0.2 | % | |||||||||||||||
| Health Care Providers & Services | 183,872 | 154,599 | — | — | 1,927 | 340,398 | 9.0 | % | |||||||||||||||
| Health Care Technology | 128,793 | — | — | — | — | 128,793 | 3.5 | % | |||||||||||||||
| Hotels, Restaurants & Leisure | 20,776 | — | — | — | — | 20,776 | 0.6 | % | |||||||||||||||
| Household Durables | 126,904 | 27,218 | — | — | 1,523 | 155,645 | 4.2 | % | |||||||||||||||
| Interactive Media & Services | 160,281 | — | — | — | — | 160,281 | 4.3 | % | |||||||||||||||
| Internet & Direct Marketing Retail | 2,406 | 14,514 | — | — | — | 16,920 | 0.5 | % | |||||||||||||||
| IT Services | 207,224 | 139,064 | — | — | — | 346,288 | 9.3 | % | |||||||||||||||
| Leisure Products | 69,380 | — | — | — | — | 69,380 | 1.9 | % | |||||||||||||||
| Machinery | 53,213 | 9,928 | — | — | — | 63,141 | 1.7 | % | |||||||||||||||
| Media | 44,596 | — | — | — | — | 44,596 | 1.2 | % | |||||||||||||||
| Pharmaceuticals | 99,289 | — | — | — | — | 99,289 | 2.7 | % | |||||||||||||||
| Professional Services | 86,828 | 114,666 | — | — | — | 201,494 | 5.4 | % | |||||||||||||||
| Software | — | 49,111 | — | — | — | 49,111 | 1.3 | % | |||||||||||||||
| Textiles, Apparel & Luxury Goods | 158,530 | 9,000 | — | — | — | 167,530 | 4.5 | % | |||||||||||||||
| Structured Finance | — | — | 665,002 | — | — | 665,002 | 17.8 | % | |||||||||||||||
| Total Non-Control/Non-Affiliate | $ | 2,156,971 | $ | 1,262,508 | $ | 665,002 | $ | — | $ | 58,356 | $ | 4,142,837 | 111.0 | % | |||||||||
| Fair Value % of Net Assets | 57.8 | % | 33.8 | % | 17.8 | % | — | % | 1.6 | % | 111.0 | % | |||||||||||
| Total Portfolio | $ | 4,360,853 | $ | 1,262,508 | $ | 665,002 | $ | 7,200 | $ | 1,429,368 | $ | 7,724,931 | 207.0 | % | |||||||||
| Fair Value % of Net Assets | 116.8 | % | 33.8 | % | 17.8 | % | 0.2 | % | 38.4 | % | 207.0 | % | |||||||||||
| Security Name | PIK Rate - Capitalized | PIK Rate - Paid as cash | Maximum Current PIK Rate | |||||||||||
| Aventiv Technologies, LLC - First Lien Term Loan | 4.09% | —% | 4.09% | |||||||||||
| Aventiv Technologies, LLC - Second Lien Term Loan | 8.05% | 6.57% | —% | (A) | ||||||||||
| CP Energy Services Inc. - First Lien Term Loan | 14.59% | —% | —% | (B) | ||||||||||
| CP Energy Services Inc. - First Lien Term Loan | 14.59% | —% | —% | (B) | ||||||||||
| CP Energy Services Inc. - First Lien Term Loan | 14.59% | —% | —% | (B) | ||||||||||
| CP Energy Services Inc. - First Lien Term Loan A to Spartan Energy Services, LLC | 13.59% | —% | 13.59% | (C) | ||||||||||
| Credit Central Loan Company, LLC - First Lien Term Loan | 10.00% | —% | 5.00% | (D) | ||||||||||
| Credit.com Holdings, LLC - First Lien Term Loan A | 16.57% | —% | —% | (E) | ||||||||||
| Credit.com Holdings, LLC - First Lien Term Loan B | 17.57% | —% | —% | (E) | ||||||||||
| Eze Castle Integration, Inc. - First Lien Term Loan | 0.75% | —% | 0.75% | |||||||||||
| Eze Castle Integration, Inc. - Delayed Draw Term Loan | 0.75% | —% | 0.75% | |||||||||||
| First Tower Finance Company LLC - First Lien Term Loan | 2.36% | 12.64% | 5.00% | (F) | ||||||||||
| InterDent, Inc. - First Lien Term Loan B | 12.00% | —% | 12.00% | |||||||||||
| 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 C | —% | 2.25% | 2.25% | |||||||||||
| 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 Term Loan | 20.00% | —% | 10.00% | |||||||||||
| Pacific World Corporation - First Lien Revolving Line of Credit | 9.58% | —% | 9.58% | |||||||||||
| Pacific World Corporation - First Lien Term Loan A | 7.96% | 1.62% | 9.58% | |||||||||||
| Rising Tide Holdings, Inc. - Exit Facility Term Loan | 6.90% | 6.52% | —% | (G) | ||||||||||
| Rosa Mexicano - First Lien Revolving Line of Credit | 16.00% | —% | —% | |||||||||||
| Rosa Mexicano - First Lien Term Loan | 13.11% | —% | —% | |||||||||||
| Shutterfly, LLC - Second Lien Term Loan | 4.00% | —% | 4.00% | |||||||||||
| Town & Country Holdings, Inc. - First Lien Term Loan | 12.00% | —% | 12.00% | |||||||||||
| Town & Country Holdings, Inc. - First Lien Term Loan | 12.00% | —% | 12.00% | |||||||||||
| TPS, LLC - First Lien Term Loan | 1.50% | —% | 1.50% | |||||||||||
| USES Corp. - First Lien Equipment Term Loan | 14.59% | —% | —% | (H) | ||||||||||
| 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% | (I) | ||||||||||
| Valley Electric Company, Inc. - First Lien Term Loan B | 8.00% | —% | 8.00% | (I) | ||||||||||
| Security Name | PIK Rate - Capitalized | PIK Rate - Paid as cash | Maximum Current PIK Rate | |||||||||||
| CP Energy Services Inc. - First Lien Term Loan | 14.50% | —% | 14.50% | (A) | ||||||||||
| CP Energy Services Inc. - First Lien Term Loan | 14.50% | —% | 14.50% | (A) | ||||||||||
| CP Energy Services Inc. - First Lien Term Loan | 14.50% | —% | 14.50% | (A) | ||||||||||
| CP Energy Services Inc. - First Lien Term Loan A to Spartan Energy Services, LLC | 13.36% | —% | 13.36% | (B) | ||||||||||
| Credit Central Loan Company, LLC - First Lien Term Loan | 10.00% | —% | 5.00% | (C) | ||||||||||
| Echelon Transportation, LLC - First Lien Term Loan | —% | —% | —% | (D) | ||||||||||
| Eze Castle Integration, Inc. - First Lien Term Loan | 0.75% | —% | 0.75% | |||||||||||
| Eze Castle Integration, Inc. - Delayed Draw Term Loan | 0.75% | —% | 0.75% | |||||||||||
| First Tower Finance Company LLC - First Lien Term Loan | 12.06% | 2.94% | 5.00% | (E) | ||||||||||
| InterDent, Inc. - First Lien Term Loan B | 12.00% | —% | 12.00% | |||||||||||
| MITY, Inc. - First Lien Term Loan A | 2.58% | 9.93% | —% | (F) | ||||||||||
| MITY, Inc. - First Lien Term Loan B | 6.92% | 15.58% | 10.00% | (F) | ||||||||||
| National Property REIT Corp. - First Lien Term Loan A | —% | 3.53% | 3.53% | |||||||||||
| National Property REIT Corp. - First Lien Term Loan B | —% | 5.50% | 5.50% | |||||||||||
| National Property REIT Corp. - First Lien Term Loan C | —% | 2.25% | 2.25% | |||||||||||
| National Property REIT Corp. - First Lien Term Loan D | —% | 2.50% | 2.50% | |||||||||||
| National Property REIT Corp. - First Lien Term Loan E | 7.00% | —% | 7.00% | |||||||||||
| Nationwide Loan Company LLC - First Lien Term Loan | 10.00% | —% | 10.00% | |||||||||||
| Pacific World Corporation - First Lien Revolving Line of Credit | 12.61% | —% | 12.61% | (G) | ||||||||||
| Pacific World Corporation - First Lien Term Loan A | 8.70% | 1.91% | 10.61% | |||||||||||
| Rising Tide Holdings, Inc. - First Lien Term Loan | 13.76% | —% | 13.76% | (H) | ||||||||||
| Town & Country Holdings, Inc. - First Lien Term Loan | 12.00% | —% | 12.00% | (I) | ||||||||||
| Town & Country Holdings, Inc. - First Lien Term Loan | 12.00% | —% | 12.00% | (I) | ||||||||||
| TPS, LLC - First Lien Term Loan | 1.50% | —% | 1.50% | |||||||||||
| USES Corp. - First Lien Equipment Term Loan | 14.36% | —% | 14.36% | (J) | ||||||||||
| 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 | 8.00% | —% | 8.00% | |||||||||||
| Controlled Companies | Fair Value at June 30, 2023 | Gross Additions (Cost)(A) | Gross Reductions (Cost)(B) | Net unrealized gains (losses) | Fair Value at March 31, 2024 | Interest income | Dividend income | Other income | Net realized gains (losses) | ||||||||||||||||||||
| CP Energy Services Inc. | $ | 79,355 | $ | 8,469 | $ | — | $ | (17,609) | $ | 70,215 | $ | 8,427 | $ | — | $ | — | $ | — | |||||||||||
| CP Energy - Spartan Energy Services, Inc. | 34,665 | 3,126 | — | (8,333) | 29,458 | 3,546 | — | — | — | ||||||||||||||||||||
| Credit Central Loan Company, LLC | 73,642 | 5,573 | — | (2,899) | 76,316 | 6,927 | — | — | — | ||||||||||||||||||||
| Echelon Transportation, LLC | 64,198 | — | (1,862) | 1,591 | 63,927 | 2,639 | — | — | — | ||||||||||||||||||||
| First Tower Finance Company LLC | 598,382 | 18,904 | (318) | (26,532) | 590,436 | 46,676 | — | — | — | ||||||||||||||||||||
| Freedom Marine Solutions, LLC | 12,710 | — | — | (188) | 12,522 | — | — | — | — | ||||||||||||||||||||
| InterDent, Inc. | 457,967 | 17,174 | — | (4,391) | 470,750 | 27,491 | — | — | — | ||||||||||||||||||||
| Kickapoo Ranch Pet Resort | 3,242 | 1,500 | — | — | 4,742 | 43 | 80 | 75 | — | ||||||||||||||||||||
| MITY, Inc. | 68,178 | 2,500 | — | 11,430 | 82,108 | 6,668 | — | 63 | (1) | ||||||||||||||||||||
| National Property REIT Corp. | 1,659,976 | 188,635 | (62,950) | (121,151) | 1,664,510 | 75,570 | — | 53,997 | — | ||||||||||||||||||||
| Nationwide Loan Company LLC | 47,572 | 3,251 | — | (7,761) | 43,062 | 3,698 | — | — | — | ||||||||||||||||||||
| NMMB, Inc. | 94,180 | — | — | 46 | 94,226 | 3,199 | 657 | — | 1,040 | ||||||||||||||||||||
| Pacific World Corporation | 65,746 | 39,423 | — | (274) | 104,895 | 7,810 | — | 812 | — | ||||||||||||||||||||
| R-V Industries, Inc. | 81,508 | 3,700 | — | 13,441 | 98,649 | 3,997 | — | 106 | — | ||||||||||||||||||||
| Universal Turbine Parts, LLC | 45,065 | 2,500 | (35) | 20,714 | 68,244 | 2,996 | — | — | — | ||||||||||||||||||||
| USES Corp. | 19,527 | 1,100 | — | 1,162 | 21,789 | 1,471 | — | — | — | ||||||||||||||||||||
| Valley Electric Company, Inc. | 165,784 | 3,140 | — | 149,346 | 318,270 | 9,114 | — | 500 | — | ||||||||||||||||||||
| Total | $ | 3,571,697 | $ | 298,995 | $ | (65,165) | $ | 8,592 | $ | 3,814,119 | $ | 210,272 | $ | 737 | $ | 55,553 | $ | 1,039 | |||||||||||
| Affiliated Companies | Fair Value at June 30, 2023 | Gross Additions (Cost)(A) | Gross Reductions (Cost)(B) | Net unrealized gains (losses) | Fair Value at March 31, 2024 | Interest income | Dividend income | Other income | Net realized gains (losses) | ||||||||||||||||||||
| Nixon, Inc. | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||
| RGIS Services, LLC | 10,397 | — | 1,307 | 2,101 | 13,805 | — | 1,307 | — | — | ||||||||||||||||||||
| Total | $ | 10,397 | $ | — | $ | 1,307 | $ | 2,101 | $ | 13,805 | $ | — | $ | 1,307 | $ | — | $ | — | |||||||||||
| Portfolio Company | Fair Value at June 30, 2022 | Gross Additions (Cost)(A) | Gross Reductions (Cost)(B) | Net unrealized gains (losses) | Fair Value at June 30, 2023 | Interest income | Dividend income | Other income | Net realized gains (losses) | ||||||||||||||||||||
| CP Energy Services Inc. | $ | 64,260 | $ | 17,959 | $ | — | $ | (2,864) | $ | 79,355 | $ | 7,969 | $ | — | $ | — | $ | — | |||||||||||
| CP Energy - Spartan Energy Services, LLC | 48,441 | 6,005 | — | (19,781) | 34,665 | 3,510 | — | — | — | ||||||||||||||||||||
| Credit Central Loan Company, LLC | 76,935 | 14,261 | — | (17,554) | 73,642 | 8,040 | — | 123 | — | ||||||||||||||||||||
| Echelon Transportation LLC | 65,766 | 3,391 | — | (4,959) | 64,198 | 4,086 | — | — | — | ||||||||||||||||||||
| First Tower Finance Company LLC | 607,283 | 40,688 | (987) | (48,602) | 598,382 | 63,364 | — | — | — | ||||||||||||||||||||
| Freedom Marine Solutions, LLC | 13,899 | 650 | — | (1,839) | 12,710 | — | — | — | — | ||||||||||||||||||||
| InterDent, Inc. | 406,194 | 20,681 | (950) | 32,042 | 457,967 | 32,523 | — | — | — | ||||||||||||||||||||
| Kickapoo Ranch Pet Resort | 3,833 | — | — | (591) | 3,242 | — | 150 | — | — | ||||||||||||||||||||
| MITY, Inc. | 59,999 | 2,692 | (3,265) | 8,752 | 68,178 | 8,177 | — | — | (2) | ||||||||||||||||||||
| National Property REIT Corp. | 1,615,737 | 213,469 | (113,352) | (55,878) | 1,659,976 | 95,004 | — | 63,792 | — | ||||||||||||||||||||
| Nationwide Loan Company LLC | 50,400 | 2,337 | — | (5,165) | 47,572 | 4,306 | — | — | — | ||||||||||||||||||||
| NMMB, Inc. | 109,943 | — | — | (15,763) | 94,180 | 3,754 | 2,510 | — | (2,510) | ||||||||||||||||||||
| Pacific World Corporation | 59,179 | 18,479 | — | (11,912) | 65,746 | 8,052 | — | 105 | — | ||||||||||||||||||||
| R-V Industries, Inc. | 56,923 | — | — | 24,585 | 81,508 | 4,467 | — | 158 | — | ||||||||||||||||||||
| Universal Turbine Parts, LLC | 31,147 | — | (32) | 13,950 | 45,065 | 3,280 | — | — | — | ||||||||||||||||||||
| USES Corp. | 22,395 | 10,675 | — | (13,543) | 19,527 | 1,039 | — | — | — | ||||||||||||||||||||
| Valley Electric Company, Inc. | 145,983 | 22,341 | 548 | (3,088) | 165,784 | 9,403 | 547 | 1,046 | — | ||||||||||||||||||||
| Total | $ | 3,438,317 | $ | 373,628 | $ | (118,038) | $ | (122,210) | $ | 3,571,697 | $ | 256,974 | $ | 3,207 | $ | 65,224 | $ | (2,512) | |||||||||||
| Portfolio Company | Fair Value at June 30, 2022 | Gross Additions (Cost)(A) | Gross Reductions (Cost)(B) | Net unrealized gains (losses) | Fair Value at June 30, 2023 | Interest income | Dividend income | Other income | Net realized gains (losses) | ||||||||||||||||||||
| Nixon, Inc. | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||
| PGX Holdings, Inc. (C) | 340,253 | — | (288,494) | (51,759) | — | 15,003 | — | 133 | — | ||||||||||||||||||||
| RGIS Services, LLC | 17,004 | — | (5,128) | (1,479) | 10,397 | 31 | 1,374 | — | — | ||||||||||||||||||||
| Targus Cayman HoldCo Limited | 36,007 | — | (2,805) | (33,202) | — | — | — | — | 16,143 | ||||||||||||||||||||
| 393,264 | — | (296,427) | (86,440) | 10,397 | 15,034 | 1,374 | 133 | 16,143 | |||||||||||||||||||||
| Portfolio Company | Investment | Follow-On Acquisition Dates | Follow-On Acquisitions (Excluding initial investment cost) | ||||||||
| 8th Avenue Food & Provisions, Inc. | Second Lien Term Loan | 11/17/2020, 9/17/2021 | $ | 7,051 | |||||||
| Apidos CLO XI | Subordinated Structured Note | 11/2/2016, 4/8/2021 | 7,559 | ||||||||
| Apidos CLO XII | Subordinated Structured Note | 1/26/2018 | 4,070 | ||||||||
| Apidos CLO XV | Subordinated Structured Note | 3/29/2018 | 6,480 | ||||||||
| Apidos CLO XXII | Subordinated Structured Note | 2/24/2020 | 1,912 | ||||||||
| Atlantis Health Care Group (Puerto Rico), Inc. | First Lien Revolving Line of Credit | 4/15/2013, 5/21/2013, 3/11/2014, 6/26/2017, 9/29/2017, 10/12/2017, 10/31/2017, 5/10/2023 | 9,500 | ||||||||
| Atlantis Health Care Group (Puerto Rico), Inc. | First Lien Term Loan | 12/9/2016 | 42,000 | ||||||||
| Aventiv Technologies, LLC | Second Lien Term Loan - Exchanged | 11/13/2017, 11/24/2017, 8/6/2018, 8/24/2018, 3/18/2019, 3/4/2024 | 24,432 | ||||||||
| Aventiv Technologies, LLC | First Lien Term Loan - Exchanged | 2/29/2024, 3/4/2024 | 10,679 | ||||||||
| Barings CLO 2018-III | Subordinated Structured Note | 5/18/2018 | 9,255 | ||||||||
| BCPE North Star US Holdco 2, Inc. | Second Lien Delayed Draw Term Loan | 10/28/2022 | 5,133 | ||||||||
| BCPE North Star US Holdco 2, Inc. | Second Lien Term Loan | 12/30/2021 | 65,000 | ||||||||
| BCPE Osprey Buyer, Inc. | First Lien Revolving Line of Credit | 2/22/2023, 5/23/2023, 9/14/2023, 11/22/2023, 3/28/2024 | 5,087 | ||||||||
| BCPE Osprey Buyer, Inc. | First Lien Delayed Draw Term Loan | 9/26/2023 | 4,639 | ||||||||
| Belnick, LLC (d/b/a The Ubique Group) | First Lien Term Loan | 6/27/2022, 12/1/2023 | 18,000 | ||||||||
| Broder Bros., Co. | First Lien Term Loan | 1/29/2019, 2/28/2019, 9/10/2021, 9/30/2021 | 25,370 | ||||||||
| California Street CLO IX Ltd. | Subordinated Structured Note | 9/6/2016, 10/17/2016 | 6,842 | ||||||||
| Cent CLO 21 Limited | Subordinated Structured Note | 7/12/2018 | 1,024 | ||||||||
| CIFC Funding 2014-IV-R, Ltd. | Subordinated Structured Note | 10/12/2018, 12/20/2021 | 2,860 | ||||||||
| Collections Acquisition Company, Inc. | First Lien Term Loan | 1/13/2022, 3/14/2024 | 15,800 | ||||||||
| Columbia Cent CLO 27 Limited | Subordinated Structured Note | 12/2/2021 | 7,815 | ||||||||
| CP Energy Services Inc. | First Lien Term Loan | 8/31/2023 | 2,900 | ||||||||
| CP Energy Services Inc. | First Lien Term Loan A to Spartan Energy Services, LLC | 4/9/2021, 1/10/2022, 2/10/2023 | 14,681 | ||||||||
| CP Energy Services Inc. | Common Stock | 10/11/2013, 12/26/2013, 4/6/2018, 12/31/2019 | 69,586 | ||||||||
| Credit Central Loan Company, LLC | Class A Units | 12/28/2012, 3/28/2014, 6/26/2014, 9/28/2016, 8/21/2019 | 11,975 | ||||||||
| Credit Central Loan Company, LLC | Class P Units | 1/27/2023 | 1,540 | ||||||||
| Credit Central Loan Company, LLC | First Lien Term Loan | 6/26/2014, 9/28/2016, 12/16/2022, 1/27/2023 | 45,995 | ||||||||
| Curo Group Holdings Corp. | First Lien Term Loan | 8/31/2021, 11/18/2021, 1/12/2022 | 17,033 | ||||||||
| DRI Holding, Inc. | First Lien Term Loan | 4/26/2022, 7/21/2022 | 12,999 | ||||||||
| DRI Holding, Inc. | Second Lien Term Loan | 5/18/2022 | 10,000 | ||||||||
| Dukes Root Control Inc. | First Lien Revolving Line of Credit | 4/24/2023, 11/27/2023, 2/2/2024, 2/26/2024 | 3,161 | ||||||||
| Dukes Root Control Inc. | First Lien Delayed Draw Term Loan | 5/26/2023, 10/26/2023 | 3,254 | ||||||||
| Echelon Transportation, LLC | Membership Interest | 3/31/2014, 9/30/2014, 12/9/2016 | 22,488 | ||||||||
| Echelon Transportation, LLC | First Lien Term Loan | 11/14/2018, 7/9/2019, 5/5/2020, 10/9/2020, 1/21/2021, 3/18/2021 | 5,465 | ||||||||
| Eze Castle Integration, Inc. | First Lien Delayed Draw Term Loan | 10/7/2022, 9/5/2023 | 1,786 | ||||||||
| Faraday Buyer, LLC | First Lien Delayed Draw Term Loan | 5/18/2023 | 4,468 | ||||||||
| First Brands Group | First Lien Term Loan | 4/27/2022 | 5,955 | ||||||||
| First Brands Group | Second Lien Term Loan | 5/12/2022 | 4,938 | ||||||||
| First Tower Finance Company LLC | Class A Units | 12/30/2013, 6/24/2014, 12/15/2015, 11/21/2016, 3/9/2018 | 39,885 | ||||||||
| First Tower Finance Company LLC | First Lien Term Loan to First Tower, LLC | 12/15/2015, 3/9/2018, 3/24/2022 | 43,047 | ||||||||
| Freedom Marine Solutions, LLC | Membership Interest | 10/1/2009, 12/22/2009, 1/13/2010, 3/30/2010, 5/13/2010, 2/14/2011, 4/28/2011, 7/7/2011, 10/20/2011, 10/30/2015, 1/7/2016, 4/11/2016, 8/11/2016, 1/30/2017, 4/20/2017, 6/13/2017, 8/30/2017, 1/17/2018, 2/15/2018, 5/8/2018, 10/31/2018, 5/14/2021, 4/18/2022, 2/15/2023 | 42,118 | ||||||||
| Galaxy XV CLO, Ltd. | Subordinated Structured Note | 8/21/2015, 3/10/2017 | 9,161 | ||||||||
| Portfolio Company | Investment | Follow-On Acquisition Dates | Follow-On Acquisitions (Excluding initial investment cost) | ||||||||
| Galaxy XXVII CLO, Ltd. | Subordinated Structured Note | 6/11/2015 | 1,460 | ||||||||
| Help/Systems Holdings, Inc. (d/b/a Forta, LLC) | Second Lien Term Loan | 5/11/2021, 10/14/2021 | 54,649 | ||||||||
| The Hiller Companies, LLC | First Lien Term Loan | 4/6/2023 | 17,000 | ||||||||
| InterDent, Inc. | First Lien Term Loan A | 2/11/2014, 4/21/2014, 11/25/2014, 12/23/2014, 7/14/2021, 3/28/2022 | 93,903 | ||||||||
| InterDent, Inc. | First Lien Term Loan B | 2/11/2014, 4/21/2014, 11/25/2014, 12/23/2014 | 76,125 | ||||||||
| Interventional Management Services, LLC | First Lien Revolving Line of Credit | 2/25/2021, 11/17/2021 | 5,000 | ||||||||
| Jefferson Mill CLO Ltd. | Subordinated Structured Note | 9/21/2018 | 2,047 | ||||||||
| Kickapoo Ranch Pet Resort | Membership Interest | 10/21/2019, 12/4/2019 | 28 | ||||||||
| LCM XIV Ltd. | Subordinated Structured Note | 9/25/2015, 5/18/2018 | 9,422 | ||||||||
| LGC US FINCO, LLC | First Lien Term Loan | 3/2/2022 | 2,095 | ||||||||
| Lucky US BuyerCo LLC | First Lien Revolving Line of Credit | 3/21/2024 | 833 | ||||||||
| Magnate Worldwide, LLC | First Lien Delayed Draw Term Loan | 10/26/2022, 6/1/2023 | 2,310 | ||||||||
| Mamba Purchaser, Inc. | Second Lien Term Loan | 5/4/2022, 5/10/2022 | 17,860 | ||||||||
| Medical Solutions Holdings, Inc. | Second Lien Term Loan | 5/4/2022, 9/22/2022 | 1,423 | ||||||||
| MITY, Inc. | Common Stock | 6/23/2014 | 7,200 | ||||||||
| MITY, Inc. | First Lien Term Loan A | 1/17/2017, 3/23/2021, 2/14/2024, 3/15/2024 | 13,150 | ||||||||
| MITY, Inc. | First Lien Term Loan B | 1/17/2017, 6/3/2019 | 11,000 | ||||||||
| Nationwide Loan Company LLC | Class A Units | 3/28/2014, 6/18/2014, 9/30/2014, 6/29/2015, 3/31/2016, 8/31/2016, 5/31/2017, 10/31/2017 | 20,469 | ||||||||
| Nationwide Loan Company LLC | First Lien Term Loan | 12/28/2015, 8/31/2016 | 1,999 | ||||||||
| National Property REIT Corp. | First Lien Term Loan A | 4/3/2020, 5/15/2020, 6/10/2020, 7/29/2020, 8/14/2020, 9/15/2020,10/15/2020, 10/30/2020, 11/10/2020, 11/13/2020, 11/19/2020, 12/11/2020, 1/27/2021, 2/25/2021, 3/11/2021, 5/14/2021, 6/14/2021, 6/25/2021, 8/16/2021, 11/15/2021, 11/26/2021, 12/1/2021, 12/28/2021, 1/14/2022, 2/15/2022, 3/17/2022, 3/28/2022, 4/1/2022, 4/7/2022, 5/24/2022, 6/6/2022, 7/5/2022, 8/31/2022, 10/6/2022, 1/10/2023, 2/28/2023, 4/4/2023, 4/6/2023, 4/28/2023, 6/9/2023, 6/14/2023, 7/5/2023, 7/14/2023, 8/31/2023, 9/29/2023, 10/4/2023, 10/20/2023, 11/30/2023, 1/3/2024, 1/18/2024, 2/29/2024, 3/8/2024 | 806,728 | ||||||||
| National Property REIT Corp. | First Lien Term Loan B | 12/8/2021, 12/17/2021, 1/13/2022, 2/8/2022, 2/14/2022, 2/17/2022, 2/24/2022 | 28,880 | ||||||||
| National Property REIT Corp. | First Lien Term Loan C | 10/23/2019, 1/23/2020, 3/31/2020, 4/8/2020, 8/4/2020, 12/7/2021, 1/7/2022, 2/2/2022, 5/12/2022, 5/19/2022, 6/6/2022, 8/1/2022, 9/15/2022, 9/19/2022, 10/21/2022, 6/6/2023, 11/2/2023 | 263,000 | ||||||||
| NMMB, Inc. | First Lien Term Loan | 12/30/2019, 3/28/2022 | 40,100 | ||||||||
| Octagon Investment Partners XV, Ltd. | Subordinated Structured Note | 4/27/2015, 8/3/2015, 6/27/2017 | 10,516 | ||||||||
| Octagon Investment Partners 18-R Ltd. | Subordinated Structured Note | 3/23/2018 | 8,908 | ||||||||
| Pacific World Corporation | First Lien Revolving Line of Credit | 10/21/2014, 12/19/2014, 4/7/2015, 4/22/2015, 8/12/2016, 10/18/2016, 2/7/2017, 2/21/2017, 4/26/2017, 10/11/2017, 10/17/2017, 1/16/2018, 12/27/2018, 3/15/2019, 7/2/2019, 8/15/2019, 9/1/2021, 10/19/2021, 9/6/2022 | 41,325 | ||||||||
| Pacific World Corporation | Convertible Preferred Equity | 4/3/2019, 4/29/2019, 6/3/2019, 10/4/2019, 11/12/2019, 12/20/2019, 1/7/2020, 3/5/2020, 12/30/2021, 1/26/2024 | 55,100 | ||||||||
| Pacific World Corporation | First Lien Term Loan A | 12/22/2022 | 10,500 | ||||||||
| PeopleConnect Holdings, LLC | First Lien Term Loan | 10/21/2021 | 82,005 | ||||||||
| PetVet Care Centers, LLC | Second Lien Term Loan | 11/22/2021, 5/10/2022 | 10,950 | ||||||||
| PGX Holdings, Inc. | First Lien Term Loan | 11/16/2021, 5/25/2022 | 25,000 | ||||||||
| PGX Holdings, Inc. | First Lien DIP Term Loan | 8/4/2023 | 2,327 | ||||||||
| PGX Holdings, Inc. | Second Lien Term Loan | 12/28/2022 | 15,000 | ||||||||
| Precisely Software Incorporated | Second Lien Term Loan | 5/28/2021, 6/24/2021, 6/3/2022 | 59,333 | ||||||||
| Reception Purchaser, LLC | First Lien Term Loan | 7/29/2022, 9/22/2022 | 9,655 | ||||||||
| Redstone Holdco 2 LP | Second Lien Term Loan | 9/10/2021 | 17,903 | ||||||||
| Romark WM-R Ltd. | Subordinated Structured Note | 3/29/2018 | 5,125 | ||||||||
| Rosa Mexicano | First Lien Revolving Line of Credit | 3/27/2020, 10/13/2023, 2/7/2024 | 3,400 | ||||||||
| R-V Industries, Inc. | First Lien Term Loan | 3/4/2022, 9/25/2023 | 8,700 | ||||||||
| R-V Industries, Inc. | Common Stock | 12/27/2016 | 1,854 | ||||||||
| Portfolio Company | Investment | Follow-On Acquisition Dates | Follow-On Acquisitions (Excluding initial investment cost) | ||||||||
| Shiftkey, LLC | First Lien Term Loan | 8/26/2022, 9/14/2022, 9/23/2022 | 39,450 | ||||||||
| Sorenson Communications, LLC | First Lien Term Loan | 5/12/2022, 5/19/2022 | 19,675 | ||||||||
| Symphony CLO XV, Ltd. | Subordinated Structured Note | 12/7/2018 | 2,655 | ||||||||
| The RK Logistics Group, Inc. | Class B Common Units | 12/19/2023 | 1,250 | ||||||||
| Town & Country Holdings, Inc. | First Lien Term Loan | 7/13/2018, 7/16/2018, 2/27/2024, 3/28/2024 | 110,500 | ||||||||
| United Sporting Companies, Inc. | Second Lien Term Loan | 3/7/2013, 3/14/2024 | 59,325 | ||||||||
| Universal Turbine Parts, LLC | First Lien Delayed Draw Term Loan | 10/24/2019, 2/7/2020, 2/26/2020, 4/5/2021, 11/24/2023 | 5,716 | ||||||||
| USES Corp. | First Lien Term Loan A | 6/15/2016, 6/29/2016, 2/22/2017, 4/27/2017, 5/4/2017, 8/30/2017, 10/11/2017, 12/11/2018, 8/30/2019 | 14,100 | ||||||||
| USES Corp. | First Lien Equipment Term Loan | 6/23/2023 | 3,900 | ||||||||
| USG Intermediate, LLC | First Lien Revolving Line of Credit | 7/2/2015, 9/23/2015, 9/14/2017, 8/21/2019, 9/17/2020, 9/18/2021, 5/19/2022, 5/22/2023, 10/12/2023 | 21,700 | ||||||||
| USG Intermediate, LLC | First Lien Term Loan B | 8/24/2017, 7/30/2021, 2/9/2022, 8/17/2022, 5/12/2023, 12/20/2023 | 104,475 | ||||||||
| USG Intermediate, LLC | Equity | 5/12/2023 | 100 | ||||||||
| Valley Electric Company, Inc. | Common Stock | 12/31/2012, 6/24/2014 | 18,502 | ||||||||
| Valley Electric Company, Inc. | First Lien Term Loan | 6/30/2014, 8/31/2018, 3/28/2022 | 18,129 | ||||||||
| Valley Electric Company, Inc. | First Lien Term Loan B | 5/1/2023 | 19,000 | ||||||||
| ViaPath Technologies | Second Lien Term Loan | 4/10/2019, 8/22/2019, 9/20/2019, 9/14/2021, 9/17/2021, 12/17/2021, 2/7/2022 | 96,743 | ||||||||
| Voya CLO 2014-1, Ltd. | Subordinated Structured Note | 3/29/2018 | 3,943 | ||||||||
| VT Topco, Inc. | Second Lien Term Loan | 5/2/2022, 5/12/2022 | 4,941 | ||||||||
| VT Topco, Inc. | 2021 Second Lien Term Loan | 4/27/2022, 5/12/2022 | 6,939 | ||||||||
| Wellful Inc. | First Lien Term Loan | 7/28/2022 | 3,860 | ||||||||
| Wellpath Holdings, Inc. | First Lien Term Loan | 10/8/2019, 10/8/2021 | 9,592 | ||||||||
| Wellpath Holdings, Inc. | Second Lien Term Loan | 8/20/2019 | 1,993 | ||||||||
| 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 | ||||
| March 31, 2024 | June 30, 2023 | ||||||||||||||||||||||
| Cost | Fair Value | Cost | Fair Value | ||||||||||||||||||||
| First Lien Revolving Line of Credit | $ | 79,963 | $ | 79,390 | $ | 58,139 | $ | 58,058 | |||||||||||||||
| First Lien Debt (1) | 4,642,527 | 4,528,397 | 4,431,887 | 4,302,795 | |||||||||||||||||||
| Second Lien Revolving Line of Credit | 5,145 | 4,885 | 5,139 | 4,646 | |||||||||||||||||||
| Second Lien Debt | 1,293,688 | 1,133,652 | 1,586,112 | 1,257,862 | |||||||||||||||||||
| Unsecured Debt | 7,200 | 7,200 | 7,200 | 7,200 | |||||||||||||||||||
| Subordinated Structured Notes | 864,283 | 572,486 | 952,815 | 665,002 | |||||||||||||||||||
| Equity | 795,866 | 1,480,702 | 759,304 | 1,429,368 | |||||||||||||||||||
| Total Investments | $ | 7,688,672 | $ | 7,806,712 | $ | 7,800,596 | $ | 7,724,931 | |||||||||||||||
| Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||
| First Lien Revolving Line of Credit | $ | — | $ | — | $ | 79,390 | $ | 79,390 | |||||||||||||||
| First Lien Debt(1) | — | 89,088 | 4,439,309 | 4,528,397 | |||||||||||||||||||
| Second Lien Revolving Line of Credit | — | — | 4,885 | 4,885 | |||||||||||||||||||
| Second Lien Debt | — | 23,000 | 1,110,652 | 1,133,652 | |||||||||||||||||||
| Unsecured Debt | — | — | 7,200 | 7,200 | |||||||||||||||||||
| Subordinated Structured Notes | — | — | 572,486 | 572,486 | |||||||||||||||||||
| Equity | — | — | 1,480,702 | 1,480,702 | |||||||||||||||||||
| Total Investments | $ | — | $ | 112,088 | $ | 7,694,624 | $ | 7,806,712 | |||||||||||||||
| Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||
| First Lien Revolving Line of Credit | $ | — | $ | — | $ | 58,058 | $ | 58,058 | |||||||||||||||
| First Lien Debt (1) | — | 7,481 | 4,295,314 | 4,302,795 | |||||||||||||||||||
| Second Lien Revolving Line of Credit | — | — | 4,646 | 4,646 | |||||||||||||||||||
| Second Lien Debt | — | — | 1,257,862 | 1,257,862 | |||||||||||||||||||
| Unsecured Debt | — | — | 7,200 | 7,200 | |||||||||||||||||||
| Subordinated Structured Notes | — | — | 665,002 | 665,002 | |||||||||||||||||||
| Equity | — | — | 1,429,368 | 1,429,368 | |||||||||||||||||||
| Total Investments | $ | — | $ | 7,481 | $ | 7,717,450 | $ | 7,724,931 | |||||||||||||||
| Fair Value Measurements Using Unobservable Inputs (Level 3) | |||||||||||||||||||||||
Control Investments | Affiliate Investments | Non-Control/ Non-Affiliate Investments | Total | ||||||||||||||||||||
| Fair value as of June 30, 2023 | $ | 3,571,697 | $ | 10,397 | $ | 4,135,356 | $ | 7,717,450 | |||||||||||||||
| Net realized gains (losses) on investments | 1,039 | — | (278,372) | (277,333) | |||||||||||||||||||
| Net change in unrealized gains | 8,592 | 2,101 | 184,444 | 195,137 | |||||||||||||||||||
| Net realized and unrealized gains (losses) | 9,631 | 2,101 | (93,928) | (82,196) | |||||||||||||||||||
| Purchases of portfolio investments(3) | 233,499 | — | 193,769 | 427,268 | |||||||||||||||||||
| Payment-in-kind interest | 64,687 | — | 30,361 | 95,048 | |||||||||||||||||||
Accretion of discounts and premiums, net | 809 | — | 3,119 | 3,928 | |||||||||||||||||||
| Decrease to Subordinated Structured Notes cost, net(4) | — | — | (62,680) | (62,680) | |||||||||||||||||||
| Repayments and sales of portfolio investments(3) | (66,204) | 1,307 | (233,000) | (297,897) | |||||||||||||||||||
| Transfers out of Level 3(1) | — | — | (106,297) | (106,297) | |||||||||||||||||||
| Fair value as of March 31, 2024 | $ | 3,814,119 | $ | 13,805 | $ | 3,866,700 | $ | 7,694,624 | |||||||||||||||
| First Lien Revolving Line of Credit | First Lien Debt(2) | Second Lien Revolving Line of Credit | Second Lien Debt | Unsecured Debt | Subordinated Structured Notes | Equity | Total | ||||||||||||||||||||||||||||||||||||||||
| Fair value as of June 30, 2023 | $ | 58,058 | $ | 4,295,314 | $ | 4,646 | $ | 1,257,862 | $ | 7,200 | $ | 665,002 | $ | 1,429,368 | $ | 7,717,450 | |||||||||||||||||||||||||||||||
| Net realized (losses) gains on investments | — | (72,794) | — | (179,985) | (1) | (25,592) | 1,039 | (277,333) | |||||||||||||||||||||||||||||||||||||||
| Net change in unrealized (losses) gains | (492) | 16,391 | 233 | 168,221 | — | (3,985) | 14,769 | 195,137 | |||||||||||||||||||||||||||||||||||||||
| Net realized and unrealized (losses) gains | (492) | (56,403) | 233 | (11,764) | (1) | (29,577) | 15,808 | (82,196) | |||||||||||||||||||||||||||||||||||||||
| Purchases of portfolio investments(3) | 28,181 | 344,652 | — | (7,813) | — | — | 62,248 | 427,268 | |||||||||||||||||||||||||||||||||||||||
| Payment-in-kind interest | 3,031 | 88,788 | — | 3,229 | — | — | — | 95,048 | |||||||||||||||||||||||||||||||||||||||
| Accretion of discounts and premiums, net | 95 | 2,197 | 6 | 1,630 | — | — | — | 3,928 | |||||||||||||||||||||||||||||||||||||||
| Decrease to Subordinated Structured Notes cost, net(4) | — | — | — | — | — | (62,680) | — | (62,680) | |||||||||||||||||||||||||||||||||||||||
| Repayments and sales of portfolio investments(3) | (9,483) | (151,942) | — | (109,492) | 1 | (259) | (26,722) | (297,897) | |||||||||||||||||||||||||||||||||||||||
| Transfers out of Level 3(1) | — | (83,297) | — | (23,000) | — | — | — | (106,297) | |||||||||||||||||||||||||||||||||||||||
| Fair value as of March 31, 2024 | $ | 79,390 | $ | 4,439,309 | $ | 4,885 | $ | 1,110,652 | $ | 7,200 | $ | 572,486 | $ | 1,480,702 | $ | 7,694,624 | |||||||||||||||||||||||||||||||
| Fair Value Measurements Using Unobservable Inputs (Level 3) | |||||||||||||||||||||||
Control Investments | Affiliate Investments | Non-Control/ Non-Affiliate Investments | Total | ||||||||||||||||||||
| Fair value as of June 30, 2022 | $ | 3,438,317 | $ | 393,264 | $ | 3,697,113 | $ | 7,528,694 | |||||||||||||||
| Net realized (losses) gains on investments | (2,512) | 16,143 | (52,812) | (39,181) | |||||||||||||||||||
| Net change in unrealized losses | (109,909) | (89,034) | (165,503) | (364,446) | |||||||||||||||||||
| Net realized and unrealized losses | (112,421) | (72,891) | (218,315) | (403,627) | |||||||||||||||||||
| Purchases of portfolio investments | 172,021 | — | 428,437 | 600,458 | |||||||||||||||||||
| Payment-in-kind interest | 72,653 | — | 25,299 | 97,952 | |||||||||||||||||||
Accretion of discounts and premiums, net | 596 | — | 4,601 | 5,197 | |||||||||||||||||||
| Repayments and sales of portfolio investments | (91,072) | (24,678) | (186,047) | (301,797) | |||||||||||||||||||
| Transfers within Level 3(1) | — | (287,751) | 287,751 | — | |||||||||||||||||||
| Transfers out of Level 3(1) | — | — | (17,699) | (17,699) | |||||||||||||||||||
| Transfers into Level 3(1) | — | — | 26,188 | 26,188 | |||||||||||||||||||
Fair Value as of as of March 31, 2023 | $ | 3,480,094 | $ | 7,944 | $ | 4,047,328 | $ | 7,535,366 | |||||||||||||||
| First Lien Revolving Line of Credit | First Lien Debt(2) | Subordinated Secured Debt | Second Lien Revolving Line of Credit | Second Lien Debt | Unsecured Debt | Subordinated Structured Notes | Equity | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
| Fair value as of June 30, 2022 | $ | 39,746 | $ | 3,684,144 | $ | 1,471,336 | $ | — | $ | 1,471,336 | $ | 7,200 | $ | 711,429 | $ | 1,614,839 | $ | 7,528,694 | ||||||||||||||||||||||||||||||||||||||
| Net realized losses on investments | — | (14,554) | (8,791) | — | (8,791) | (2) | (29,466) | 13,632 | (39,181) | |||||||||||||||||||||||||||||||||||||||||||||||
| Net change in unrealized gains (losses) | 69 | (28,288) | (123,468) | (249) | (123,468) | — | 17,665 | (230,175) | (364,446) | |||||||||||||||||||||||||||||||||||||||||||||||
| Net realized and unrealized gains (losses) | 69 | (42,842) | (132,259) | (249) | (132,259) | (2) | (11,801) | (216,543) | (403,627) | |||||||||||||||||||||||||||||||||||||||||||||||
| Purchases of portfolio investments | 3,718 | 522,365 | 27,774 | 5,133 | 27,774 | — | — | 41,468 | 600,458 | |||||||||||||||||||||||||||||||||||||||||||||||
| Payment-in-kind interest | 2,295 | 83,855 | 11,802 | — | 11,802 | — | — | — | 97,952 | |||||||||||||||||||||||||||||||||||||||||||||||
| Accretion of discounts and premiums, net | 36 | 2,372 | 1,654 | 4 | 1,654 | — | 1,131 | — | 5,197 | |||||||||||||||||||||||||||||||||||||||||||||||
| Repayments and sales of portfolio investments | (1,352) | (223,923) | (52,989) | — | (52,989) | 2 | (2,336) | (21,199) | (301,797) | |||||||||||||||||||||||||||||||||||||||||||||||
| Transfers out of Level 3(1) | — | (17,699) | — | — | — | — | — | — | (17,699) | |||||||||||||||||||||||||||||||||||||||||||||||
| Transfers into Level 3(1) | — | 26,188 | — | — | — | — | 26,188 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Fair value as of March 31, 2023 | $ | 44,512 | $ | 4,034,460 | $ | 1,327,318 | $ | 4,888 | $ | 1,327,318 | $ | 7,200 | $ | 698,423 | $ | 1,418,565 | $ | 7,535,366 | ||||||||||||||||||||||||||||||||||||||
| March 31, 2024 | June 30, 2023 | ||||||||||||||||||||||||||||||||||
| Cost | Fair Value | % of Portfolio | Cost | Fair Value | % of Portfolio | ||||||||||||||||||||||||||||||
| Equity Real Estate Investment Trusts (REITs) | $ | 858,368 | $ | 1,433,880 | 18.4 | % | $ | 741,133 | $ | 1,437,796 | 18.6 | % | |||||||||||||||||||||||
| Health Care Providers & Services | 720,848 | 825,394 | 10.6 | % | 687,813 | 798,365 | 10.3 | % | |||||||||||||||||||||||||||
| Consumer Finance | 605,418 | 709,814 | 9.1 | % | 625,033 | 736,635 | 9.5 | % | |||||||||||||||||||||||||||
| All Other Industries | 5,504,038 | 4,837,624 | 61.9 | % | 5,746,617 | 4,752,135 | 61.6 | % | |||||||||||||||||||||||||||
| Total | $ | 7,688,672 | $ | 7,806,712 | 100.0 | % | $ | 7,800,596 | $ | 7,724,931 | 100.0 | % | |||||||||||||||||||||||
| Unobservable Input | ||||||||||||||||||||||||||||||||||||||
| Asset Category | Fair Value | Primary Valuation Approach or Technique | Input | Range | Weighted Average (4) | |||||||||||||||||||||||||||||||||
| First Lien Debt | $ | 1,797,269 | Discounted cash flow (Yield analysis) | Market yield | 9.1% | to | 33.1% | 12.2% | ||||||||||||||||||||||||||||||
| First Lien Debt | 576,841 | Enterprise value waterfall (Market approach) | EBITDA multiple | 3.0x | to | 11.5x | 8.2x | |||||||||||||||||||||||||||||||
| First Lien Debt | 310,353 | Enterprise value waterfall (Market approach) | EBITDA multiple | 10.0x | to | 12.0x | 11.0x | |||||||||||||||||||||||||||||||
| Enterprise value waterfall (Discounted cash flow) | Discount rate | 9.8% | to | 11.8% | 10.8% | |||||||||||||||||||||||||||||||||
| First Lien Debt | 147,750 | Enterprise value waterfall (Market approach) | Revenue multiple | 0.5x | to | 1.5x | 1.1x | |||||||||||||||||||||||||||||||
| First Lien Debt | 56,239 | Enterprise value waterfall (Discounted cash flow) | Discount rate | 6.0% | to | 30.0% | 7.5% | |||||||||||||||||||||||||||||||
| First Lien Debt | 39,404 | Enterprise value waterfall (Market approach) | Revenue multiple | 1.0x | to | 1.5x | 1.3x | |||||||||||||||||||||||||||||||
| Enterprise value waterfall (Discounted cash flow) | Discount rate | 13.0% | to | 55.0% | 34.0% | |||||||||||||||||||||||||||||||||
| First Lien Debt | 5,198 | Enterprise value waterfall (Market approach) | Revenue multiple | 0.4x | to | 0.7x | 0.6x | |||||||||||||||||||||||||||||||
| Discounted cash flow (Yield analysis) | Market yield | 14.3% | to | 15.4% | 14.9% | |||||||||||||||||||||||||||||||||
| First Lien Debt (1) | 20,630 | Enterprise value waterfall (Discounted cash flow) | Loss-adjusted discount rate | 7.8% | to | 8.3% | 8.2% | |||||||||||||||||||||||||||||||
| Projected loss rates | 1.4% | to | 4.2% | 3.8% | ||||||||||||||||||||||||||||||||||
| First Lien Debt (1) | 210,000 | Enterprise value waterfall (Discounted cash flow) | Discount rate (2) | 11.3% | to | 25.9% | 13.2% | |||||||||||||||||||||||||||||||
| First Lien Debt | 102,165 | Enterprise value waterfall (Market approach) | Tangible book value multiple | 1.0x | to | 2.1x | 1.5x | |||||||||||||||||||||||||||||||
| First Lien Debt | 414,512 | Enterprise value waterfall (Market approach) | Tangible book value multiple | 2.5x | to | 3.0x | 2.8x | |||||||||||||||||||||||||||||||
| Earnings multiple | 9.0x | to | 12.0x | 10.5x | ||||||||||||||||||||||||||||||||||
| First Lien Debt | 838,338 | Discounted cash flow | Discount Rate | 6.3% | to | 9.8% | 7.2% | |||||||||||||||||||||||||||||||
| Terminal Cap Rate | 5.3% | to | 8.3% | 6.0% | ||||||||||||||||||||||||||||||||||
| Second Lien Debt | 1,090,899 | Discounted cash flow (Yield analysis) | Market yield | 11.0% | to | 27.7% | 14.7% | |||||||||||||||||||||||||||||||
| Second Lien Debt | 14,669 | Enterprise value waterfall (Market approach) | EBITDA multiple | 6.8x | to | 7.3x | 7.0x | |||||||||||||||||||||||||||||||
| Second Lien Debt | 9,969 | Asset recovery analysis | Recoverable amount | n/a | n/a | |||||||||||||||||||||||||||||||||
| Unsecured Debt | 7,200 | Enterprise value waterfall (Market approach) | EBITDA multiple | 5.8x | to | 7.0x | 6.4x | |||||||||||||||||||||||||||||||
| Subordinated Structured Notes | 572,486 | Discounted cash flow | Discount rate (2) | 5.6% | to | 18.3% | 12.4% | |||||||||||||||||||||||||||||||
| Preferred Equity | 10,618 | Enterprise value waterfall (Market approach) | Revenue multiple | 0.5x | to | 1.5x | 1.2x | |||||||||||||||||||||||||||||||
| Preferred Equity | 34,275 | Enterprise value waterfall (Market approach) | EBITDA multiple | 3.0x | to | 9.3x | 8.7x | |||||||||||||||||||||||||||||||
| Preferred Equity | 9,188 | Enterprise value waterfall (Discounted cash flow) | Discount rate | 6.0% | to | 8.0% | 7.0% | |||||||||||||||||||||||||||||||
| Common Equity/Interests/Warrants | 453,511 | Enterprise value waterfall (Market approach) | EBITDA multiple | 3.0x | to | 11.5x | 8.7x | |||||||||||||||||||||||||||||||
| Common Equity/Interests/Warrants | 5,031 | Enterprise value waterfall (Market approach) | Revenue multiple | 0.4x | to | 1.4x | 0.6x | |||||||||||||||||||||||||||||||
| Common Equity/Interests/Warrants | 892 | Enterprise value waterfall (Market approach) | Revenue multiple | 1.0x | to | 1.5x | 1.3x | |||||||||||||||||||||||||||||||
| Enterprise value waterfall (Discounted cash flow) | Discount rate | 13.0% | to | 55.0% | 34.0% | |||||||||||||||||||||||||||||||||
| Common Equity/Interests/Warrants | 160,397 | Enterprise value waterfall (Market approach) | EBITDA multiple | 10.0x | to | 12.0x | 11.0x | |||||||||||||||||||||||||||||||
| Enterprise value waterfall (Discounted cash flow) | Discount rate | 9.8% | to | 11.8% | 10.8% | |||||||||||||||||||||||||||||||||
| Unobservable Input | ||||||||||||||||||||||||||||||||||||||
| Asset Category | Fair Value | Primary Valuation Approach or Technique | Input | Range | Weighted Average (4) | |||||||||||||||||||||||||||||||||
| Common Equity/Interests/Warrants (1) | 45,465 | Enterprise value waterfall (Discounted cash flow) | Loss-adjusted discount rate | 7.8% | to | 8.3% | 8.2% | |||||||||||||||||||||||||||||||
| Projected loss rates | 1.4% | to | 4.2% | 3.8% | ||||||||||||||||||||||||||||||||||
| Discount rate (2) | 11.3% | to | 25.9% | 13.2% | ||||||||||||||||||||||||||||||||||
| Common Equity/Interests/Warrants (3) | 45,840 | Discounted cash flow | Discount rate | 6.3% | to | 9.8% | 7.2% | |||||||||||||||||||||||||||||||
| Terminal Cap Rate | 5.3% | to | 8.3% | 6.0% | ||||||||||||||||||||||||||||||||||
| Common Equity/Interests/Warrants | 17,213 | Enterprise value waterfall (Market approach) | Tangible book value multiple | 1.0x | to | 2.1x | 1.3x | |||||||||||||||||||||||||||||||
| Common Equity/Interests/Warrants | 175,924 | Enterprise value waterfall (Market approach) | Tangible book value multiple | 2.5x | to | 3.0x | 2.8x | |||||||||||||||||||||||||||||||
| Earnings multiple | 9.0x | to | 12.0x | 10.5x | ||||||||||||||||||||||||||||||||||
| Common Equity/Interests/Warrants | 504,237 | Discounted cash flow | Discount rate | 6.3% | to | 9.8% | 7.2% | |||||||||||||||||||||||||||||||
| Terminal Cap Rate | 5.3% | to | 8.3% | 6.0% | ||||||||||||||||||||||||||||||||||
| Common Equity/Interests/Warrants | 5,589 | Enterprise value waterfall (Discounted cash flow) | Discount Rate | 19.3% | to | 30.0% | 22.8% | |||||||||||||||||||||||||||||||
| Common Equity/Interests/Warrants | 12,522 | Asset recovery analysis | Recoverable amount | n/a | n/a | |||||||||||||||||||||||||||||||||
| Total Level 3 Investments | $ | 7,694,624 | ||||||||||||||||||||||||||||||||||||
| Unobservable Input | ||||||||||||||||||||||||||||||||||||||
| Asset Category | Fair Value | Primary Valuation Approach or Technique | Input | Range | Weighted Average (5) | |||||||||||||||||||||||||||||||||
| First Lien Debt | $ | 1,871,464 | Discounted cash flow (Yield analysis) | Market yield | 9.2% | to | 34.3% | 12.8% | ||||||||||||||||||||||||||||||
| First Lien Debt | 708,883 | Enterprise value waterfall (Market approach) | EBITDA multiple | 4.8x | to | 11.5x | 9.3x | |||||||||||||||||||||||||||||||
| First Lien Debt | 75,015 | Enterprise value waterfall (Market approach) | Revenue multiple | 1.0x | to | 1.5x | 1.3x | |||||||||||||||||||||||||||||||
| Enterprise value waterfall (Discounted cash flow) | Discount rate | 11.8% | to | 55.0% | 33.4% | |||||||||||||||||||||||||||||||||
| First Lien Debt | 199,915 | Enterprise value waterfall (Market approach) | Revenue multiple | 0.2x | to | 2.0x | 1.0x | |||||||||||||||||||||||||||||||
| First Lien Debt | 56,600 | Enterprise value waterfall (Discounted cash flow) | Discount rate | 6.0% | to | 8.0% | 7.0% | |||||||||||||||||||||||||||||||
| First Lien Debt (1) | 21,580 | Enterprise value waterfall (Discounted cash flow) | Loss-adjusted discount rate | 7.6% | to | 13.2% | 8.1% | |||||||||||||||||||||||||||||||
| Projected loss rates | 0.2% | to | 6.8% | 5.2% | ||||||||||||||||||||||||||||||||||
| First Lien Debt (2) | 200,600 | Enterprise value waterfall (Discounted cash flow) | Discount rate (3) | 11.7% | to | 19.3% | 13.4% | |||||||||||||||||||||||||||||||
| First Lien Debt | 96,239 | Enterprise value waterfall (Market approach) | Tangible book value multiple | 1.0x | to | 2.0x | 1.4x | |||||||||||||||||||||||||||||||
| First Lien Debt | 395,926 | Enterprise value waterfall (Market approach) | Tangible book value multiple | 2.8x | to | 3.0x | 2.9x | |||||||||||||||||||||||||||||||
| Earnings multiple | 7.3x | to | 9.3x | 8.3x | ||||||||||||||||||||||||||||||||||
| First Lien Debt | 725,703 | Discounted cash flow | Discount Rate | 6.3% | to | 9.8% | 7.0% | |||||||||||||||||||||||||||||||
| Terminal Cap Rate | 5.0% | to | 8.3% | 5.8% | ||||||||||||||||||||||||||||||||||
| First Lien Debt | 1,447 | Asset recovery analysis | Recoverable amount | n/a | n/a | |||||||||||||||||||||||||||||||||
| Second Lien Debt | 1,255,520 | Discounted cash flow (Yield analysis) | Market yield | 10.2% | to | 45.7% | 14.8% | |||||||||||||||||||||||||||||||
| Second Lien Debt | 6,988 | Asset recovery analysis | Recoverable amount | n/a | n/a | |||||||||||||||||||||||||||||||||
| Unsecured Debt | 7,200 | Enterprise value waterfall (Market approach) | EBITDA multiple | 4.8x | to | 7.5x | 6.1x | |||||||||||||||||||||||||||||||
| Subordinated Structured Notes | 665,002 | Discounted cash flow | Discount rate (3) | 4.0% | to | 37.1% | 23.4% | |||||||||||||||||||||||||||||||
| Preferred Equity | 12,637 | Enterprise value waterfall (Market approach) | Revenue multiple | 0.2x | to | 2.0x | 1.1x | |||||||||||||||||||||||||||||||
| Preferred Equity | 13,920 | Enterprise value waterfall (Market approach) | EBITDA multiple | 6.8x | to | 9.3x | 8.6x | |||||||||||||||||||||||||||||||
| Preferred Equity | 7,598 | Enterprise value waterfall (Discounted cash flow) | Discount rate | 6.0% | to | 8.0% | 7.0% | |||||||||||||||||||||||||||||||
| Common Equity/Interests/Warrants | 438,848 | Enterprise value waterfall (Market approach) | EBITDA multiple | 4.8x | to | 11.5x | 9.1x | |||||||||||||||||||||||||||||||
| Common Equity/Interests/Warrants (1) | 1,400 | Enterprise value waterfall (Discounted cash flow) | Loss-adjusted discount rate | 7.6% | to | 13.2% | 8.1% | |||||||||||||||||||||||||||||||
| Projected loss rates | 0.2% | to | 6.8% | 5.2% | ||||||||||||||||||||||||||||||||||
| Common Equity/Interests/Warrants (2) | 35,648 | Enterprise value waterfall (Discounted cash flow) | Discount rate (3) | 11.7% | to | 19.3% | 13.4% | |||||||||||||||||||||||||||||||
| Common Equity/Interests/Warrants (4) | 56,254 | Discounted cash flow | Discount rate | 6.3% | to | 9.8% | 7.0% | |||||||||||||||||||||||||||||||
| Terminal Cap Rate | 5.0% | to | 8.3% | 5.8% | ||||||||||||||||||||||||||||||||||
| Common Equity/Interests/Warrants | 24,975 | Enterprise value waterfall (Market approach) | Tangible book value multiple | 1.0x | to | 2.0x | 1.3x | |||||||||||||||||||||||||||||||
| Common Equity/Interests/Warrants | 202,456 | Enterprise value waterfall (Market approach) | Tangible book value multiple | 2.8x | to | 3.0x | 2.9x | |||||||||||||||||||||||||||||||
| Earnings multiple | 7.3x | to | 9.3x | 8.3x | ||||||||||||||||||||||||||||||||||
| Common Equity/Interests/Warrants | 618,791 | Discounted cash flow | Discount rate | 6.3% | to | 9.8% | 7.0% | |||||||||||||||||||||||||||||||
| Terminal Cap Rate | 5.0% | to | 8.3% | 5.8% | ||||||||||||||||||||||||||||||||||
| Common Equity/Interests/Warrants | 4,131 | Enterprise value waterfall (Discounted cash flow) | Discount rate | 13.0% | to | 30.0% | 22.5% | |||||||||||||||||||||||||||||||
| Unobservable Input | ||||||||||||||||||||||||||||||||||||||
| Asset Category | Fair Value | Primary Valuation Approach or Technique | Input | Range | Weighted Average (5) | |||||||||||||||||||||||||||||||||
| Common Equity/Interests/Warrants | 12,710 | Asset recovery analysis | Recoverable amount | n/a | n/a | |||||||||||||||||||||||||||||||||
| Total Level 3 Investments | $ | 7,717,450 | ||||||||||||||||||||||||||||||||||||
| No. | Property Name | City | Acquisition Date | Purchase Price | Mortgage Outstanding | |||||||||||||||||||||||||||
| 1 | Filet of Chicken | Forest Park, GA | 10/24/2012 | $ | 7,400 | $ | — | |||||||||||||||||||||||||
| 2 | Arlington Park Marietta, LLC | Marietta, GA | 5/8/2013 | 14,850 | 13,464 | |||||||||||||||||||||||||||
| 3 | Taco Bell, OK | Yukon, OK | 6/4/2014 | 1,719 | — | |||||||||||||||||||||||||||
| 4 | Taco Bell, MO | Marshall, MO | 6/4/2014 | 1,405 | — | |||||||||||||||||||||||||||
| 5 | Abbie Lakes OH Partners, LLC | Canal Winchester, OH | 9/30/2014 | 12,600 | 14,598 | |||||||||||||||||||||||||||
| 6 | Kengary Way OH Partners, LLC | Reynoldsburg, OH | 9/30/2014 | 11,500 | 14,760 | |||||||||||||||||||||||||||
| 7 | Lakeview Trail OH Partners, LLC | Canal Winchester, OH | 9/30/2014 | 26,500 | 28,154 | |||||||||||||||||||||||||||
| 8 | Lakepoint OH Partners, LLC | Pickerington, OH | 9/30/2014 | 11,000 | 16,024 | |||||||||||||||||||||||||||
| 9 | Sunbury OH Partners, LLC | Columbus, OH | 9/30/2014 | 13,000 | 16,251 | |||||||||||||||||||||||||||
| 10 | Heatherbridge OH Partners, LLC | Blacklick, OH | 9/30/2014 | 18,416 | 23,201 | |||||||||||||||||||||||||||
| 11 | Jefferson Chase OH Partners, LLC | Blacklick, OH | 9/30/2014 | 13,551 | 18,089 | |||||||||||||||||||||||||||
| 12 | Goldenstrand OH Partners, LLC | Hilliard, OH | 10/29/2014 | 7,810 | 11,018 | |||||||||||||||||||||||||||
| 13 | SSIL I, LLC | Aurora, IL | 11/5/2015 | 34,500 | 24,551 | |||||||||||||||||||||||||||
| 14 | Vesper Tuscaloosa, LLC | Tuscaloosa, AL | 9/28/2016 | 54,500 | 41,289 | |||||||||||||||||||||||||||
| 15 | Vesper Iowa City, LLC | Iowa City, IA | 9/28/2016 | 32,750 | 23,809 | |||||||||||||||||||||||||||
| 16 | Vesper Corpus Christi, LLC | Corpus Christi, TX | 9/28/2016 | 14,250 | 10,358 | |||||||||||||||||||||||||||
| 17 | Vesper Campus Quarters, LLC | Corpus Christi, TX | 9/28/2016 | 18,350 | 13,595 | |||||||||||||||||||||||||||
| 18 | Vesper College Station, LLC | College Station, TX | 9/28/2016 | 41,500 | 30,747 | |||||||||||||||||||||||||||
| 19 | Vesper Statesboro, LLC | Statesboro, GA | 9/28/2016 | 7,500 | 7,461 | |||||||||||||||||||||||||||
| 20 | Vesper Manhattan KS, LLC | Manhattan, KS | 9/28/2016 | 23,250 | 14,679 | |||||||||||||||||||||||||||
| No. | Property Name | City | Acquisition Date | Purchase Price | Mortgage Outstanding | |||||||||||||||||||||||||||
| 21 | 9220 Old Lantern Way, LLC | Laurel, MD | 1/30/2017 | 187,250 | 153,361 | |||||||||||||||||||||||||||
| 22 | 7915 Baymeadows Circle Owner, LLC | Jacksonville, FL | 10/31/2017 | 95,700 | 88,885 | |||||||||||||||||||||||||||
| 23 | 8025 Baymeadows Circle Owner, LLC | Jacksonville, FL | 10/31/2017 | 15,300 | 15,468 | |||||||||||||||||||||||||||
| 24 | 23275 Riverside Drive Owner, LLC | Southfield, MI | 11/8/2017 | 52,000 | 54,224 | |||||||||||||||||||||||||||
| 25 | 23741 Pond Road Owner, LLC | Southfield, MI | 11/8/2017 | 16,500 | 18,768 | |||||||||||||||||||||||||||
| 26 | 150 Steeplechase Way Owner, LLC | Largo, MD | 1/10/2018 | 44,500 | 35,992 | |||||||||||||||||||||||||||
| 27 | Olentangy Commons Owner LLC | Columbus, OH | 6/1/2018 | 113,000 | 92,876 | |||||||||||||||||||||||||||
| 28 | Villages of Wildwood Holdings LLC | Fairfield, OH | 7/20/2018 | 46,500 | 58,393 | |||||||||||||||||||||||||||
| 29 | Falling Creek Holdings LLC | Richmond, VA | 8/8/2018 | 25,000 | 25,374 | |||||||||||||||||||||||||||
| 30 | Crown Pointe Passthrough LLC | Danbury, CT | 8/30/2018 | 108,500 | 89,400 | |||||||||||||||||||||||||||
| 31 | Lorring Owner LLC | Forestville, MD | 10/30/2018 | 58,521 | 47,680 | |||||||||||||||||||||||||||
| 32 | Hamptons Apartments Owner, LLC | Beachwood, OH | 1/9/2019 | 96,500 | 79,520 | |||||||||||||||||||||||||||
| 33 | 5224 Long Road Holdings, LLC | Orlando, FL | 6/28/2019 | 26,500 | 21,200 | |||||||||||||||||||||||||||
| 34 | Druid Hills Holdings LLC | Atlanta, GA | 7/30/2019 | 96,000 | 79,104 | |||||||||||||||||||||||||||
| 35 | Bel Canto NPRC Parcstone LLC | Fayetteville, NC | 10/15/2019 | 45,000 | 42,793 | |||||||||||||||||||||||||||
| 36 | Bel Canto NPRC Stone Ridge LLC | Fayetteville, NC | 10/15/2019 | 21,900 | 21,545 | |||||||||||||||||||||||||||
| 37 | Sterling Place Holdings LLC | Columbus, OH | 10/28/2019 | 41,500 | 34,196 | |||||||||||||||||||||||||||
| 38 | SPCP Hampton LLC | Dallas, TX | 11/2/2020 | 36,000 | 38,843 | |||||||||||||||||||||||||||
| 39 | Palmetto Creek Holdings LLC | North Charleston, SC | 11/10/2020 | 33,182 | 25,865 | |||||||||||||||||||||||||||
| 40 | Valora at Homewood Holdings LLC | Homewood, AL | 11/19/2020 | 81,250 | 63,844 | |||||||||||||||||||||||||||
| 41 | NPRC Fairburn LLC | Fairburn, GA | 12/14/2020 | 52,140 | 43,900 | |||||||||||||||||||||||||||
| 42 | NPRC Grayson LLC | Grayson, GA | 12/14/2020 | 47,860 | 40,500 | |||||||||||||||||||||||||||
| 43 | NPRC Taylors LLC | Taylors, SC | 1/27/2021 | 18,762 | 14,075 | |||||||||||||||||||||||||||
| 44 | Parkside at Laurel West Owner LLC | Spartanburg, SC | 2/26/2021 | 57,005 | 42,025 | |||||||||||||||||||||||||||
| 45 | Willows at North End Owner LLC | Spartanburg, SC | 2/26/2021 | 23,255 | 19,000 | |||||||||||||||||||||||||||
| 46 | SPCP Edge CL Owner LLC | Webster, TX | 3/12/2021 | 34,000 | 25,496 | |||||||||||||||||||||||||||
| 47 | Jackson Pear Orchard LLC | Ridgeland, MS | 6/28/2021 | 50,900 | 42,975 | |||||||||||||||||||||||||||
| 48 | Jackson Lakeshore Landing LLC | Ridgeland, MS | 6/28/2021 | 22,600 | 17,955 | |||||||||||||||||||||||||||
| 49 | Jackson Reflection Pointe LLC | Flowood, MS | 6/28/2021 | 45,100 | 33,203 | |||||||||||||||||||||||||||
| 50 | Jackson Crosswinds LLC | Pearl, MS | 6/28/2021 | 41,400 | 38,601 | |||||||||||||||||||||||||||
| 51 | Elliot Apartments Norcross, LLC | Norcross, GA | 11/30/2021 | 128,000 | 106,082 | |||||||||||||||||||||||||||
| 52 | Orlando 442 Owner, LLC (West Vue Apartments) | Orlando, FL | 12/30/2021 | 97,500 | 73,000 | |||||||||||||||||||||||||||
| 53 | NPRC Wolfchase LLC | Memphis, TN | 3/18/2022 | 82,100 | 60,000 | |||||||||||||||||||||||||||
| 54 | NPRC Twin Oaks LLC | Hattiesburg. MS | 3/18/2022 | 44,850 | 35,452 | |||||||||||||||||||||||||||
| 55 | NPRC Lancaster LLC | Birmingham, AL | 3/18/2022 | 37,550 | 29,167 | |||||||||||||||||||||||||||
| 56 | NPRC Rutland LLC | Macon, GA | 3/18/2022 | 29,750 | 23,667 | |||||||||||||||||||||||||||
| 57 | Southport Owner LLC (Southport Crossing) | Indianapolis, IN | 3/29/2022 | 48,100 | 36,075 | |||||||||||||||||||||||||||
| 58 | TP Cheyenne, LLC | Cheyenne, WY | 5/26/2022 | 27,500 | 17,656 | |||||||||||||||||||||||||||
| 59 | TP Pueblo, LLC | Pueblo, CO | 5/26/2022 | 31,500 | 20,166 | |||||||||||||||||||||||||||
| 60 | TP Stillwater, LLC | Stillwater, OK | 5/26/2022 | 26,100 | 15,328 | |||||||||||||||||||||||||||
| 61 | TP Kokomo, LLC | Kokomo, IN | 5/26/2022 | 20,500 | 12,753 | |||||||||||||||||||||||||||
| 62 | Terraces at Perkins Rowe JV LLC | Baton Rouge, LA | 11/14/2022 | 41,400 | 29,566 | |||||||||||||||||||||||||||
| 63 | NPRC Apex Holdings LLC | Cincinnati, OH | 1/19/2024 | 34,225 | 27,712 | |||||||||||||||||||||||||||
| 64 | NPRC Parkton Holdings LLC | Cincinnati, OH | 1/19/2024 | 45,775 | 37,090 | |||||||||||||||||||||||||||
| $ | 2,694,826 | $ | 2,250,823 | |||||||||||||||||||||||||||||
| Nine Months Ended March 31, | |||||||||||
| Summary Statement of Operations | 2024 | 2023 | |||||||||
| Total Income | $ | 365,564 | $ | 313,223 | |||||||
| Operating Expenses | (170,384) | (157,176) | |||||||||
| Operating Income | 195,180 | 156,047 | |||||||||
| Interest Expense | (203,820) | (201,646) | |||||||||
| Depreciation and Amortization | (79,372) | (81,033) | |||||||||
| Fair Value Adjustment | (6,635) | (3,435) | |||||||||
| Net Loss | $ | (94,647) | $ | (130,067) | |||||||
| Nine Months Ended March 31, | |||||||||||
| Summary Statement of Operations | 2024 | 2023 | |||||||||
| Total Income | $ | 239,186 | $ | 242,724 | |||||||
| Total Expenses | (255,564) | (256,669) | |||||||||
| Net Loss | $ | (16,378) | $ | (13,945) | |||||||
| Nine Months Ended March 31, | |||||||||||
| Summary Statement of Operations | 2024 | 2023 | |||||||||
| Total Income | $ | 264,491 | $ | 135,705 | |||||||
| Total Expenses | (255,026) | (137,615) | |||||||||
| Net Income | $ | 9,465 | $ | (1,910) | |||||||
| Three Months Ended March 31, | Nine Months Ended March 31, | ||||||||||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||||||||||
| Average stated interest rate | 7.38% | 6.61% | 7.36 | % | 5.44 | % | |||||||||||||||||
| Average outstanding balance | $ | 1,036,938 | $ | 839,694 | $ | 1,055,219 | $ | 926,518 | |||||||||||||||
| 2025 Notes | ||||||||
| Initial conversion rate(1) | 110.7420 | |||||||
| Initial conversion price | $ | 9.03 | ||||||
Conversion rate at March 31, 2024(1)(2) | 110.7420 | |||||||
Conversion price at March 31, 2024(2)(3) | $ | 9.03 | ||||||
| Last conversion price calculation date | 3/1/2024 | |||||||
| Dividend threshold amount (per share)(4) | $ | 0.060000 | ||||||
| Tenor at Origination (in years) | Principal Amount | Interest Rate Range | Weighted Average Interest Rate | Maturity Date Range | ||||||||||||||||||||||
| 3 | $ | 30,025 | 5.75% – 7.25% | 6.57% | July 15, 2026 – March 15, 2027 | |||||||||||||||||||||
| 5 | 27,484 | 6.75% – 7.75% | 7.20% | November 15, 2028 – March 15, 2029 | ||||||||||||||||||||||
| 6 | 899 | 6.00% – 6.25% | 6.02% | July 15, 2029 – November 15, 2029 | ||||||||||||||||||||||
| 7 | 6,467 | 7.50% – 8.00% | 7.87% | November 15, 2030 – December 15, 2030 | ||||||||||||||||||||||
| 10 | 27,384 | 6.25% – 8.00% | 7.56% | July 15, 2033 – March 15, 2034 | ||||||||||||||||||||||
| 20 | 1,906 | 6.50% – 7.50% | 6.58% | July 15, 2043 – November 15, 2043 | ||||||||||||||||||||||
| $ | 94,165 | |||||||||||||||||||||||||
| Tenor at Origination (in years) | Principal Amount | Interest Rate Range | Weighted Average Interest Rate | Maturity Date Range | ||||||||||||||||||||||
| 3 | $ | 6,539 | 5.00% – 5.75% | 5.50% | October 15, 2025 – March 15, 2026 | |||||||||||||||||||||
| 5 | 2,635 | 4.50% – 5.50% | 4.50% | July 15, 2027 – October 15, 2027 | ||||||||||||||||||||||
| 6 | 1,933 | 5.75% | 5.75% | December 15, 2028 – March 15, 2029 | ||||||||||||||||||||||
| 10 | 2,226 | 5.95% | 5.95% | December 15, 2032 – March 15, 2033 | ||||||||||||||||||||||
| $ | 13,333 | |||||||||||||||||||||||||
| Tenor at Origination (in years) | Principal Amount | Interest Rate Range | Weighted Average Interest Rate | Maturity Date Range | ||||||||||||||||||||||
| 3 | $ | 40,378 | 2.50% – 7.25% | 6.19% | February 15, 2025 – March 15, 2027 | |||||||||||||||||||||
| 5 | 123,488 | 2.25% – 7.75% | 4.17% | January 15, 2026 – March 15, 2029 | ||||||||||||||||||||||
| 6 | 18,225 | 3.00% – 6.25% | 3.54% | June 15, 2027 – November 15, 2029 | ||||||||||||||||||||||
| 7 | 34,601 | 2.75% – 8.00% | 4.05% | January 15, 2028 – December 15, 2030 | ||||||||||||||||||||||
| 8 | 3,226 | 3.40% – 3.50% | 3.45% | June 15, 2029 – July 15, 2029 | ||||||||||||||||||||||
| 10 | 105,675 | 3.15% – 8.00% | 4.91% | August 15, 2029 – March 15, 2034 | ||||||||||||||||||||||
| 12 | 13,773 | 3.70% – 4.00% | 3.95% | June 15, 2033 – July 15, 2033 | ||||||||||||||||||||||
| 15 | 14,109 | 3.50% – 4.50% | 3.84% | July 15, 2036 – February 15, 2037 | ||||||||||||||||||||||
| 18 | 2,959 | 4.50% – 5.50% | 4.82% | January 15, 2031 – April 15, 2031 | ||||||||||||||||||||||
| 20 | 3,864 | 5.75% – 7.50% | 6.23% | November 15, 2032 – November 15, 2043 | ||||||||||||||||||||||
| 25 | 7,599 | 6.25% – 6.50% | 6.37% | November 15, 2038 – May 15, 2039 | ||||||||||||||||||||||
| 30 | 75,056 | 4.00% – 6.63% | 5.35% | November 15, 2042 – March 15, 2052 | ||||||||||||||||||||||
| Principal Outstanding | $ | 442,953 | ||||||||||||||||||||||||
| Less Discounts | ||||||||||||||||||||||||||
| Unamortized Debt Issuance | (7,403) | |||||||||||||||||||||||||
| Carrying Amount | $ | 435,550 | ||||||||||||||||||||||||
| Tenor at Origination (in years) | Principal Amount | Interest Rate Range | Weighted Average Interest Rate | Maturity Date Range | ||||||||||||||||||||||
| 3 | $ | 11,015 | 1.50% - 5.75% | 4.88% | January 15, 2024 – June 15, 2026 | |||||||||||||||||||||
| 5 | 96,914 | 2.25% - 5.50% | 3.30% | January 15, 2026 – October 15, 2027 | ||||||||||||||||||||||
| 6 | 17,401 | 3.00% - 6.00% | 3.41% | June 15, 2027 – June 15, 2029 | ||||||||||||||||||||||
| 7 | 28,887 | 2.75% - 4.25% | 3.17% | January 15, 2028 – February 15, 2029 | ||||||||||||||||||||||
| 8 | 3,236 | 3.40% - 3.50% | 3.45% | June 15, 2029 – July 15, 2029 | ||||||||||||||||||||||
| 10 | 79,944 | 3.15% - 6.25% | 3.97% | August 15, 2029 – June 15, 2033 | ||||||||||||||||||||||
| 12 | 14,241 | 3.70% - 4.00% | 3.95% | June 15, 2033 – July 15, 2033 | ||||||||||||||||||||||
| 15 | 14,647 | 3.50% - 4.50% | 3.84% | July 15, 2036 – February 15, 2037 | ||||||||||||||||||||||
| 18 | 3,020 | 4.50% - 5.00% | 4.73% | January 15, 2031 – April 15, 2031 | ||||||||||||||||||||||
| 20 | 1,958 | 5.75% - 6.50% | 5.89% | November 15, 2032 – June 15, 2043 | ||||||||||||||||||||||
| 25 | 7,800 | 6.25% - 6.50% | 6.37% | November 15, 2038 – May 15, 2039 | ||||||||||||||||||||||
| 30 | 79,042 | 4.00% - 6.63% | 5.31% | November 15, 2042 – March 15, 2052 | ||||||||||||||||||||||
| Principal Outstanding | $ | 358,105 | ||||||||||||||||||||||||
| Less Discounts | ||||||||||||||||||||||||||
| Unamortized debt issuance | (6,688) | |||||||||||||||||||||||||
| Carrying Amount | $ | 351,417 | ||||||||||||||||||||||||
| Total Amount Outstanding(1) | Asset Coverage per Unit(2) | Involuntary Liquidating Preference per Unit | Average Market Value per Unit(3) | |||||||||||||||||||||||
| Credit Facility | ||||||||||||||||||||||||||
Fiscal 2024 (as of March 31, 2024) | $ | 906,376 | $ | 8,606 | — | — | ||||||||||||||||||||
| Fiscal 2023 (as of June 30, 2023) | 1,014,703 | 7,639 | — | — | ||||||||||||||||||||||
| Fiscal 2022 (as of June 30, 2022) | 839,464 | 9,015 | — | — | ||||||||||||||||||||||
| Fiscal 2021 (as of June 30, 2021) | 356,937 | 17,408 | — | — | ||||||||||||||||||||||
| Fiscal 2020 (as of June 30, 2020) | 237,536 | 22,000 | — | — | ||||||||||||||||||||||
| Fiscal 2019 (as of June 30, 2019) | 167,000 | 34,298 | — | — | ||||||||||||||||||||||
| Fiscal 2018 (as of June 30, 2018) | 37,000 | 155,503 | — | — | ||||||||||||||||||||||
| Fiscal 2017 (as of June 30, 2017) | — | — | — | — | ||||||||||||||||||||||
| Fiscal 2016 (as of June 30, 2016) | — | — | — | — | ||||||||||||||||||||||
| Fiscal 2015 (as of June 30, 2015) | 368,700 | 18,136 | — | — | ||||||||||||||||||||||
| Fiscal 2014 (as of June 30, 2014) | 92,000 | 69,470 | — | — | ||||||||||||||||||||||
| 2015 Notes(4) | ||||||||||||||||||||||||||
| Fiscal 2015 (as of June 30, 2015) | $ | 150,000 | $ | 2,241 | — | — | ||||||||||||||||||||
| Fiscal 2014 (as of June 30, 2014) | 150,000 | 2,305 | — | — | ||||||||||||||||||||||
| 2016 Notes(5) | ||||||||||||||||||||||||||
| Fiscal 2016 (as of June 30, 2016) | $ | 167,500 | $ | 2,269 | — | — | ||||||||||||||||||||
| Fiscal 2015 (as of June 30, 2015) | 167,500 | 2,241 | — | — | ||||||||||||||||||||||
| Fiscal 2014 (as of June 30, 2014) | 167,500 | 2,305 | — | — | ||||||||||||||||||||||
| 2017 Notes(6) | ||||||||||||||||||||||||||
| Fiscal 2017 (as of June 30, 2017) | $ | 50,734 | $ | 2,251 | — | — | ||||||||||||||||||||
| Fiscal 2016 (as of June 30, 2016) | 129,500 | 2,269 | — | — | ||||||||||||||||||||||
| Fiscal 2015 (as of June 30, 2015) | 130,000 | 2,241 | — | — | ||||||||||||||||||||||
| Fiscal 2014 (as of June 30, 2014) | 130,000 | 2,305 | — | — | ||||||||||||||||||||||
| 2018 Notes(7) | ||||||||||||||||||||||||||
| Fiscal 2017 (as of June 30, 2017) | $ | 85,419 | $ | 2,251 | — | — | ||||||||||||||||||||
| Fiscal 2016 (as of June 30, 2016) | 200,000 | 2,269 | — | — | ||||||||||||||||||||||
| Fiscal 2015 (as of June 30, 2015) | 200,000 | 2,241 | — | — | ||||||||||||||||||||||
| Fiscal 2014 (as of June 30, 2014) | 200,000 | 2,305 | — | — | ||||||||||||||||||||||
| 2019 Notes(9) | ||||||||||||||||||||||||||
| Fiscal 2018 (as of June 30, 2018) | $ | 101,647 | $ | 2,452 | — | — | ||||||||||||||||||||
| Fiscal 2017 (as of June 30, 2017) | 200,000 | 2,251 | — | — | ||||||||||||||||||||||
| Fiscal 2016 (as of June 30, 2016) | 200,000 | 2,269 | — | — | ||||||||||||||||||||||
| Fiscal 2015 (as of June 30, 2015) | 200,000 | 2,241 | — | — | ||||||||||||||||||||||
| Fiscal 2014 (as of June 30, 2014) | 200,000 | 2,305 | — | — | ||||||||||||||||||||||
5.00% 2019 Notes(10) | ||||||||||||||||||||||||||
| Fiscal 2018 (as of June 30, 2018) | $ | 153,536 | $ | 2,452 | — | — | ||||||||||||||||||||
| Fiscal 2017 (as of June 30, 2017) | 300,000 | 2,251 | — | — | ||||||||||||||||||||||
| Fiscal 2016 (as of June 30, 2016) | 300,000 | 2,269 | — | — | ||||||||||||||||||||||
| Fiscal 2015 (as of June 30, 2015) | 300,000 | 2,241 | — | — | ||||||||||||||||||||||
| Fiscal 2014 (as of June 30, 2014) | 300,000 | 2,305 | — | — | ||||||||||||||||||||||
| 2020 Notes(13) | ||||||||||||||||||||||||||
| Fiscal 2019 (as of June 30, 2019) | $ | 224,114 | $ | 2,365 | — | — | ||||||||||||||||||||
| Fiscal 2018 (as of June 30, 2018) | 392,000 | 2,452 | — | — | ||||||||||||||||||||||
| Fiscal 2017 (as of June 30, 2017) | 392,000 | 2,251 | — | — | ||||||||||||||||||||||
| Fiscal 2016 (as of June 30, 2016) | 392,000 | 2,269 | — | — | ||||||||||||||||||||||
| Fiscal 2015 (as of June 30, 2015) | 392,000 | 2,241 | — | — | ||||||||||||||||||||||
| Fiscal 2014 (as of June 30, 2014) | 400,000 | 2,305 | — | — | ||||||||||||||||||||||
6.95% 2022 Notes(8) | ||||||||||||||||||||||||||
| Fiscal 2014 (as of June 30, 2014) | $ | 100,000 | $ | 2,305 | — | $ | 1,038 | |||||||||||||||||||
| 2022 Notes(17) | ||||||||||||||||||||||||||
| Fiscal 2022 (as of June 30, 2022) | $ | 60,501 | $ | 2,733 | — | — | ||||||||||||||||||||
| Fiscal 2021 (as of June 30, 2021) | 111,055 | 2,740 | — | — | ||||||||||||||||||||||
| Fiscal 2020 (as of June 30, 2020) | 258,240 | 2,408 | — | — | ||||||||||||||||||||||
| Fiscal 2019 (as of June 30, 2019) | 328,500 | 2,365 | — | — | ||||||||||||||||||||||
| Fiscal 2018 (as of June 30, 2018) | 328,500 | 2,452 | — | — | ||||||||||||||||||||||
| Fiscal 2017 (as of June 30, 2017) | 225,000 | 2,251 | — | — | ||||||||||||||||||||||
| 2023 Notes(11)(18) | ||||||||||||||||||||||||||
| Fiscal 2022 (as of June 30, 2022) | $ | 284,219 | $ | 2,733 | — | — | ||||||||||||||||||||
| Fiscal 2021 (as of June 30, 2021) | 284,219 | 2,740 | — | — | ||||||||||||||||||||||
| Fiscal 2020 (as of June 30, 2020) | 319,145 | 2,408 | — | — | ||||||||||||||||||||||
| Fiscal 2019 (as of June 30, 2019) | 318,863 | 2,365 | — | — | ||||||||||||||||||||||
| Fiscal 2018 (as of June 30, 2018) | 318,675 | 2,452 | — | — | ||||||||||||||||||||||
| Fiscal 2017 (as of June 30, 2017) | 248,507 | 2,251 | — | — | ||||||||||||||||||||||
| Fiscal 2016 (as of June 30, 2016) | 248,293 | 2,269 | — | — | ||||||||||||||||||||||
| Fiscal 2015 (as of June 30, 2015) | 248,094 | 2,241 | — | — | ||||||||||||||||||||||
| Fiscal 2014 (as of June 30, 2014) | 247,881 | 2,305 | — | — | ||||||||||||||||||||||
| 2024 Notes(14) | ||||||||||||||||||||||||||
| Fiscal 2020 (as of June 30, 2020) | $ | 233,788 | $ | 2,408 | — | $ | 959 | |||||||||||||||||||
| Fiscal 2019 (as of June 30, 2019) | 234,443 | 2,365 | — | 1,002 | ||||||||||||||||||||||
| Fiscal 2018 (as of June 30, 2018) | 199,281 | 2,452 | — | 1,029 | ||||||||||||||||||||||
| Fiscal 2017 (as of June 30, 2017) | 199,281 | 2,251 | — | 1,027 | ||||||||||||||||||||||
| Fiscal 2016 (as of June 30, 2016) | 161,364 | 2,269 | — | 951 | ||||||||||||||||||||||
6.375% 2024 Notes(11)(19) | ||||||||||||||||||||||||||
| Fiscal 2023 (as of June 30, 2023) | 81,240 | 2,970 | — | — | ||||||||||||||||||||||
| Fiscal 2022 (as of June 30, 2022) | 81,240 | 2,733 | — | — | ||||||||||||||||||||||
| Fiscal 2021 (as of June 30, 2021) | 81,389 | 2,740 | — | — | ||||||||||||||||||||||
| Fiscal 2020 (as of June 30, 2020) | 99,780 | 2,408 | — | — | ||||||||||||||||||||||
| Fiscal 2019 (as of June 30, 2019) | 99,726 | 2,365 | — | — | ||||||||||||||||||||||
| 2025 Notes | ||||||||||||||||||||||||||
| Fiscal 2024 (as of March 31, 2024) | $ | 156,168 | $ | 3,113 | — | — | ||||||||||||||||||||
| Fiscal 2023 (as of June 30, 2023) | 156,168 | 2,970 | — | — | ||||||||||||||||||||||
| Fiscal 2022 (as of June 30, 2022) | 156,168 | 2,733 | — | — | ||||||||||||||||||||||
| Fiscal 2021 (as of June 30, 2021) | 156,168 | 2,740 | — | — | ||||||||||||||||||||||
| Fiscal 2020 (as of June 30, 2020) | 201,250 | 2,408 | — | — | ||||||||||||||||||||||
| Fiscal 2019 (as of June 30, 2019) | 201,250 | 2,365 | — | — | ||||||||||||||||||||||
| 2026 Notes | ||||||||||||||||||||||||||
| Fiscal 2024 (as of March 31, 2024) | $ | 400,000 | $ | 3,113 | — | — | ||||||||||||||||||||
| Fiscal 2023 (as of June 30, 2023) | 400,000 | 2,970 | — | — | ||||||||||||||||||||||
| Fiscal 2022 (as of June 30, 2022) | 400,000 | 2,733 | — | — | ||||||||||||||||||||||
| Fiscal 2021 (as of June 30, 2021) | 400,000 | 2,740 | — | — | ||||||||||||||||||||||
3.364% 2026 Notes | ||||||||||||||||||||||||||
| Fiscal 2024 (as of March 31, 2024) | $ | 300,000 | $ | 3,113 | — | — | ||||||||||||||||||||
| Fiscal 2023 (as of June 30, 2023) | 300,000 | 2,970 | — | — | ||||||||||||||||||||||
| Fiscal 2022 (as of June 30, 2022) | 300,000 | 2,733 | — | — | ||||||||||||||||||||||
| Fiscal 2021 (as of June 30, 2021) | 300,000 | 2,740 | — | — | ||||||||||||||||||||||
3.437% 2028 Notes | ||||||||||||||||||||||||||
| Fiscal 2024 (as of March 31, 2024) | $ | 300,000 | $ | 3,113 | — | — | ||||||||||||||||||||
| Fiscal 2023 (as of June 30, 2023) | 300,000 | 2,970 | — | — | ||||||||||||||||||||||
| Fiscal 2022 (as of June 30, 2022) | 300,000 | 2,733 | — | — | ||||||||||||||||||||||
| 2028 Notes(15) | ||||||||||||||||||||||||||
| Fiscal 2020 (as of June 30, 2020) | $ | 70,761 | $ | 2,408 | — | $ | 950 | |||||||||||||||||||
| Fiscal 2019 (as of June 30, 2019) | 70,761 | 2,365 | — | 984 | ||||||||||||||||||||||
| Fiscal 2018 (as of June 30, 2018) | 55,000 | 2,452 | — | 1,004 | ||||||||||||||||||||||
| 2029 Notes(16) | ||||||||||||||||||||||||||
| Fiscal 2021 (as of June 30, 2021) | $ | 69,170 | $ | 2,740 | — | $ | 1,028 | |||||||||||||||||||
| Fiscal 2020 (as of June 30, 2020) | 69,170 | 2,408 | — | 970 | ||||||||||||||||||||||
| Fiscal 2019 (as of June 30, 2019) | 69,170 | 2,365 | — | 983 | ||||||||||||||||||||||
| Prospect Capital InterNotes® | ||||||||||||||||||||||||||
Fiscal 2024 (as of March 31, 2024) | $ | 442,953 | $ | 3,113 | — | — | ||||||||||||||||||||
| Fiscal 2023 (as of June 30, 2023) | 358,105 | 2,970 | — | — | ||||||||||||||||||||||
| Fiscal 2022 (as of June 30, 2022) | 347,564 | 2,733 | — | — | ||||||||||||||||||||||
| Fiscal 2021 (as of June 30, 2021) | 508,711 | 2,740 | — | — | ||||||||||||||||||||||
| Fiscal 2020 (as of June 30, 2020) | 680,229 | 2,408 | — | — | ||||||||||||||||||||||
| Fiscal 2019 (as of June 30, 2019) | 707,699 | 2,365 | — | — | ||||||||||||||||||||||
| Fiscal 2018 (as of June 30, 2018) | 760,924 | 2,452 | — | — | ||||||||||||||||||||||
| Fiscal 2017 (as of June 30, 2017) | 980,494 | 2,251 | — | — | ||||||||||||||||||||||
| Fiscal 2016 (as of June 30, 2016) | 908,808 | 2,269 | — | — | ||||||||||||||||||||||
| Fiscal 2015 (as of June 30, 2015) | 827,442 | 2,241 | — | — | ||||||||||||||||||||||
| Fiscal 2014 (as of June 30, 2014) | 785,670 | 2,305 | — | — | ||||||||||||||||||||||
Floating Rate Preferred Stock | ||||||||||||||||||||||||||
Fiscal 2024 (as of March 31, 2024) | $ | 45,647 | $ | 46 | $ | 25 | $ | — | ||||||||||||||||||
6.50% Preferred Stock | ||||||||||||||||||||||||||
Fiscal 2024 (as of March 31, 2024) | $ | 708,969 | $ | 46 | $ | 25 | $ | — | ||||||||||||||||||
| Fiscal 2023 (as of June 30, 2023) | 533,216 | 47 | 25 | — | ||||||||||||||||||||||
5.50% Preferred Stock | ||||||||||||||||||||||||||
| Fiscal 2024 (as of March 31, 2024) | $ | 823,519 | $ | 46 | $ | 25 | — | |||||||||||||||||||
| Fiscal 2023 (as of June 30, 2023) | 870,268 | 47 | 25 | — | ||||||||||||||||||||||
| Fiscal 2022 (as of June 30, 2022) | 590,197 | 54 | 25 | — | ||||||||||||||||||||||
| Fiscal 2021 (as of June 30, 2021) | 137,040 | 65 | 25 | — | ||||||||||||||||||||||
5.35% Preferred Stock | ||||||||||||||||||||||||||
| Fiscal 2024 (as of March 31, 2024) | $ | 131,279 | $ | 46 | $ | 25 | $ | 17.43 | ||||||||||||||||||
| Fiscal 2023 (as of June 30, 2023) | 149,066 | 47 | $ | 25 | 15.98 | |||||||||||||||||||||
| Fiscal 2022 (as of June 30, 2022) | 150,000 | 54 | $ | 25 | 21.08 | |||||||||||||||||||||
| All Senior Securities(11)(12) | ||||||||||||||||||||||||||
Fiscal 2024 (as of March 31, 2024) | $ | 4,214,911 | $ | 1,851 | — | — | ||||||||||||||||||||
| Fiscal 2023 (as of June 30, 2023) | 4,162,766 | 1,862 | — | — | ||||||||||||||||||||||
| Fiscal 2022 (as of June 30, 2022) | 3,509,353 | 2,156 | — | — | ||||||||||||||||||||||
| Fiscal 2021 (as of June 30, 2021) | 2,404,689 | 2,584 | — | — | ||||||||||||||||||||||
| Fiscal 2020 (as of June 30, 2020) | 2,169,899 | 2,408 | — | — | ||||||||||||||||||||||
| Fiscal 2019 (as of June 30, 2019) | 2,421,526 | 2,365 | — | — | ||||||||||||||||||||||
| Fiscal 2018 (as of June 30, 2018) | 2,346,563 | 2,452 | — | — | ||||||||||||||||||||||
| Fiscal 2017 (as of June 30, 2017) | 2,681,435 | 2,251 | — | — | ||||||||||||||||||||||
| Fiscal 2016 (as of June 30, 2016) | 2,707,465 | 2,269 | — | — | ||||||||||||||||||||||
| Fiscal 2015 (as of June 30, 2015) | 2,983,736 | 2,241 | — | — | ||||||||||||||||||||||
| Fiscal 2014 (as of June 30, 2014) | 2,773,051 | 2,305 | — | — | ||||||||||||||||||||||
| Principal Outstanding | Unamortized Discount & Debt Issuance Costs | Net Carrying Value | Fair Value | Effective Interest Rate | ||||||||||||||||||||||||||||||||||
| Revolving Credit Facility | $ | 906,376 | $ | 13,019 | $ | 906,376 | (1) | $ | 906,376 | (2) | 1M SOFR + | 2.05% | (5) | |||||||||||||||||||||||||
| 2025 Notes | 156,168 | 885 | 155,283 | 155,556 | (3) | 6.63 | % | (6) | ||||||||||||||||||||||||||||||
| Convertible Notes | 156,168 | 155,283 | 155,556 | |||||||||||||||||||||||||||||||||||
| 2026 Notes | 400,000 | 3,766 | 396,234 | 379,408 | (3) | 3.98 | % | (6) | ||||||||||||||||||||||||||||||
| 3.364% | 2026 Notes | 300,000 | 3,728 | 296,272 | 274,068 | (3) | 3.60 | % | (6) | |||||||||||||||||||||||||||||
| 3.437% | 2028 Notes | 300,000 | 6,095 | 293,905 | 257,556 | (3) | 3.64 | % | (6) | |||||||||||||||||||||||||||||
| Public Notes | 1,000,000 | 986,411 | 911,032 | |||||||||||||||||||||||||||||||||||
| Prospect Capital InterNotes® | 442,953 | 7,403 | 435,550 | 416,986 | (4) | 6.17 | % | (7) | ||||||||||||||||||||||||||||||
| Total | $ | 2,505,497 | $ | 2,483,620 | $ | 2,389,950 | ||||||||||||||||||||||||||||||||
| Principal Outstanding | Unamortized Discount & Debt Issuance Costs | Net Carrying Value | Fair Value | Effective Interest Rate | ||||||||||||||||||||||||||||||||||
| Revolving Credit Facility | $ | 1,014,703 | $ | 15,569 | $ | 1,014,703 | (1) | $ | 1,014,703 | (2) | 1M SOFR + | 2.05 | % | (5) | ||||||||||||||||||||||||
| 2025 Notes | 156,168 | 1,577 | 154,591 | 154,107 | (3) | 6.63 | % | (6) | ||||||||||||||||||||||||||||||
| Convertible Notes | 156,168 | 154,591 | 154,107 | |||||||||||||||||||||||||||||||||||
| 6.375% | 2024 Notes | 81,240 | 108 | 81,132 | 80,818 | (3) | 6.57 | % | (6) | |||||||||||||||||||||||||||||
| 2026 Notes | 400,000 | 5,244 | 394,756 | 354,896 | (3) | 3.98 | % | (6) | ||||||||||||||||||||||||||||||
| 3.364% | 2026 Notes | 300,000 | 4,730 | 295,270 | 252,282 | (3) | 3.60 | % | (6) | |||||||||||||||||||||||||||||
| 3.437% | 2028 Notes | 300,000 | 7,021 | 292,979 | 230,472 | (3) | 3.64 | % | (6) | |||||||||||||||||||||||||||||
| Public Notes | 1,081,240 | 1,064,137 | 918,468 | |||||||||||||||||||||||||||||||||||
Prospect Capital InterNotes® | 358,105 | 6,688 | 351,417 | 313,538 | (4) | 5.77 | % | (7) | ||||||||||||||||||||||||||||||
| Total | $ | 2,610,216 | $ | 2,584,848 | $ | 2,400,816 | ||||||||||||||||||||||||||||||||
| Payments Due by Fiscal Year ending June 30, | |||||||||||||||||||||||||||||||||||||||||
| Total | Remainder of 2024 | 2025 | 2026 | 2027 | 2028 | After 5 Years | |||||||||||||||||||||||||||||||||||
| Revolving Credit Facility | $ | 906,376 | $ | — | $ | — | $ | — | $ | — | $ | 906,376 | $ | — | |||||||||||||||||||||||||||
| Convertible Notes | 156,168 | — | 156,168 | — | — | — | — | ||||||||||||||||||||||||||||||||||
| Public Notes | 1,000,000 | — | — | 400,000 | 300,000 | — | 300,000 | ||||||||||||||||||||||||||||||||||
| Prospect Capital InterNotes® | 442,953 | — | 1,499 | 38,442 | 104,016 | 15,254 | 283,742 | ||||||||||||||||||||||||||||||||||
| Total Contractual Obligations | $ | 2,505,497 | $ | — | $ | 157,667 | $ | 438,442 | $ | 404,016 | $ | 921,630 | $ | 583,742 | |||||||||||||||||||||||||||
| Series | Maximum Offering Size (Shares) | Maximum Aggregate Liquidation Preference of Offering | Inception to Date Preferred Shares Issued via Offering | Inception to Date Liquidation Preference Issued via Offering | Preferred Stock Outstanding | Liquidation Preference Outstanding | |||||||||||||||||||||||||||||||||||
| Series A1 | 80,000,000 | (1) | $ | 2,000,000 | (1) | 31,448,021 | $ | 786,201 | 30,349,874 | (4) | $ | 758,747 | |||||||||||||||||||||||||||||
| Series M1 | 80,000,000 | (1) | 2,000,000 | (1) | 4,110,318 | 102,758 | 2,426,875 | (4) | 60,672 | ||||||||||||||||||||||||||||||||
| Series M2 | 80,000,000 | (1) | 2,000,000 | (1) | — | — | — | — | |||||||||||||||||||||||||||||||||
| Series A3 | 80,000,000 | (1) | 2,000,000 | (1) | 24,728,836 | 618,221 | 24,626,831 | (4) | 615,671 | ||||||||||||||||||||||||||||||||
| Series M3 | 80,000,000 | (1) | 2,000,000 | (1) | 3,456,649 | 86,416 | 3,731,923 | (4) | 93,298 | ||||||||||||||||||||||||||||||||
| Series A4 | 80,000,000 | (1) | 2,000,000 | (1) | 1,580,456 | 39,511 | 1,580,468 | (5) | 39,511 | ||||||||||||||||||||||||||||||||
| Series M4 | 80,000,000 | (1) | 2,000,000 | (1) | 237,810 | 5,945 | 245,410 | (5) | 6,135 | ||||||||||||||||||||||||||||||||
| Series AA1 | 10,000,000 | (2) | 250,000 | (2) | — | — | — | — | |||||||||||||||||||||||||||||||||
| Series MM1 | 10,000,000 | (2) | 250,000 | (2) | — | — | — | — | |||||||||||||||||||||||||||||||||
| Series AA2 | 10,000,000 | (2) | 250,000 | (2) | — | — | — | — | |||||||||||||||||||||||||||||||||
| Series MM2 | 10,000,000 | (2) | 250,000 | (2) | — | — | — | — | |||||||||||||||||||||||||||||||||
| Series A2 | 187,000 | 4,675 | 187,000 | 4,675 | 164,000 | 4,100 | |||||||||||||||||||||||||||||||||||
| Series A | 6,000,000 | 150,000 | 6,000,000 | 150,000 | 5,251,157 | (6) | 131,279 | ||||||||||||||||||||||||||||||||||
| Total | 96,187,000 | (3) | $ | 2,404,675 | (3) | 71,749,090 | $ | 1,793,727 | 68,376,538 | (7) | $ | 1,709,413 | (7) | ||||||||||||||||||||||||||||
| Series | Maximum Offering Size (Shares) | Maximum Aggregate Liquidation Preference of Offering | Inception to Date Preferred Shares Issued via Offering | Inception to Date Liquidation Preference of Shares Issued | Preferred Stock Shares Outstanding | Liquidation Preference of Shares Outstanding | ||||||||||||||||||||||||||||||||
| Series A1 | 72,000,000 | (1) | $ | 1,800,000 | (1) | 31,448,021 | $ | 786,201 | 30,965,138 | (4) | $ | 774,128 | ||||||||||||||||||||||||||
| Series M1 | 72,000,000 | (1) | 1,800,000 | (1) | 4,110,318 | 102,758 | 3,681,591 | (4) | 92,040 | |||||||||||||||||||||||||||||
| Series M2 | 72,000,000 | (1) | 1,800,000 | (1) | — | — | — | — | ||||||||||||||||||||||||||||||
| Series A3 | 72,000,000 | (1) | 1,800,000 | (1) | 18,855,269 | 471,382 | 18,829,837 | (4) | 470,746 | |||||||||||||||||||||||||||||
| Series M3 | 72,000,000 | (1) | 1,800,000 | (1) | 2,514,615 | 62,865 | 2,498,788 | (4) | 62,470 | |||||||||||||||||||||||||||||
| Series AA1 | 10,000,000 | (2) | 250,000 | (2) | — | — | — | — | ||||||||||||||||||||||||||||||
| Series MM1 | 10,000,000 | (2) | 250,000 | (2) | — | — | — | — | ||||||||||||||||||||||||||||||
| Series AA2 | 10,000,000 | (2) | 250,000 | (2) | — | — | — | — | ||||||||||||||||||||||||||||||
| Series MM2 | 10,000,000 | (2) | 250,000 | (2) | — | — | — | — | ||||||||||||||||||||||||||||||
| Series A2 | 187,000 | 4,675 | 187,000 | 4,675 | 164,000 | 4,100 | ||||||||||||||||||||||||||||||||
| Series A | 6,000,000 | 150,000 | 6,000,000 | 150,000 | 5,962,654 | (5) | 149,066 | |||||||||||||||||||||||||||||||
| Total | 88,187,000 | (3) | $ | 2,204,675 | (3) | 63,115,223 | $ | 1,577,881 | 62,102,009 | (6) | $ | 1,552,550 | ||||||||||||||||||||||||||
| Series | June 30, 2022 Shares Outstanding | Shares Issued | Shares issued through Preferred Stock DRIP | Shares Converted to Common(1) | March 31, 2023 Shares Outstanding | ||||||||||||||||||||||||||||||
| Series A1 | 20,794,645 | 10,610,836 | 33,947 | (347,842) | 31,091,585 | (3) | |||||||||||||||||||||||||||||
| Series M1 | 2,626,238 | 1,469,566 | 901 | (173,966) | 3,922,739 | ||||||||||||||||||||||||||||||
| Series A3 | — | 15,058,892 | 2,554 | (3,273) | 15,058,173 | ||||||||||||||||||||||||||||||
| Series M3 | — | 1,825,723 | 219 | (9,305) | 1,816,637 | ||||||||||||||||||||||||||||||
| Series A2 | 187,000 | — | — | (23,000) | 164,000 | ||||||||||||||||||||||||||||||
| Series A | 6,000,000 | — | — | — | 6,000,000 | ||||||||||||||||||||||||||||||
| Total | 29,607,882 | (3) | 28,965,017 | (2) | 37,621 | (557,386) | 58,053,134 | ||||||||||||||||||||||||||||
| For the Three Months Ended March 31, | For the Nine Months Ended March 31, | ||||||||||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||||||||||
| Net increase (decrease) in net assets resulting from operations - basic | $ | 113,891 | $ | (108,947) | $ | 156,466 | $ | (158,523) | |||||||||||||||
| Adjustment for dividends on Convertible Preferred Stock | 22,749 | — | 66,081 | — | |||||||||||||||||||
| Adjustment for interest on Convertible Notes | 2,722 | — | — | — | |||||||||||||||||||
| Adjustment for Incentive Fee on Convertible Instruments | (5,094) | — | (13,216) | — | |||||||||||||||||||
| Net increase (decrease) in net assets resulting from operations - diluted | $ | 134,268 | $ | (108,947) | $ | 209,331 | $ | (158,523) | |||||||||||||||
| Weighted average common shares outstanding - basic | 414,461,972 | 399,732,263 | 410,571,037 | 397,233,468 | |||||||||||||||||||
| Weighted average common shares from assumed conversion of Convertible Preferred Stock | 246,597,541 | — | 230,704,807 | — | |||||||||||||||||||
| Weighted average common shares from assumed conversion of Convertible Notes | 17,294,357 | — | — | — | |||||||||||||||||||
| Weighted average shares of common stock outstanding - diluted | 678,353,870 | 399,732,263 | 641,275,844 | 397,233,468 | |||||||||||||||||||
| Earnings (loss) per share - basic | $ | 0.27 | $ | (0.27) | $ | 0.38 | $ | (0.40) | |||||||||||||||
| Earnings (loss) per share - diluted | $ | 0.20 | $ | (0.27) | $ | 0.33 | $ | (0.40) | |||||||||||||||
| Tax Year Ended August 31, | ||||||||||||||||||||
| 2023 | 2022 | 2021 | ||||||||||||||||||
| Ordinary income | $ | 243,085 | $ | 231,984 | $ | 251,171 | ||||||||||||||
| Capital gain | — | 49,719 | — | |||||||||||||||||
| Return of capital | 44,838 | — | 25,784 | |||||||||||||||||
| Total distributions paid to common stockholders | $ | 287,923 | $ | 281,703 | $ | 276,955 | ||||||||||||||
| Tax Year Ended August 31, | ||||||||||||||||||||
| 2023 | 2022 | 2021 | ||||||||||||||||||
| Ordinary income | $ | 74,975 | $ | 22,551 | $ | 2,391 | ||||||||||||||
| Capital gain | — | 6,476 | ||||||||||||||||||
| Return of capital | — | — | ||||||||||||||||||
| Total distributions paid to preferred stockholders | $ | 74,975 | $ | 29,027 | $ | 2,391 | ||||||||||||||
| Tax Year Ended August 31, | ||||||||||||||||||||
| 2023 | 2022 | 2021 | ||||||||||||||||||
| Net increase (decrease) in net assets resulting from operations | $ | (88,043) | $ | 735,337 | $ | 428,106 | ||||||||||||||
| Net realized (gains) losses on investments | 40,795 | 22,375 | 16,173 | |||||||||||||||||
| Net unrealized (gains) losses on investments | 480,916 | (405,414) | (143,654) | |||||||||||||||||
Other temporary book-to-tax differences(1) | (148,538) | (66,363) | (47,330) | |||||||||||||||||
| Permanent differences | 27 | 30 | (20) | |||||||||||||||||
Taxable income before deductions for distributions | $ | 285,157 | (1) | $ | 285,965 | $ | 253,275 | |||||||||||||
| Tax Year Ended August 31, 2023 | ||||||||
| Undistributed ordinary income | $ | — | ||||||
| Undistributed long-term capital gains | — | |||||||
| Capital loss carryforwards | $ | 100,954 | ||||||
| March 31, 2024 | June 30, 2023 | |||||||||||||
| Tax cost of investments | $ | 7,564,425 | $ | 8,028,254 | ||||||||||
| Tax unrealized appreciation | 1,348,126 | 1,334,168 | ||||||||||||
| Tax unrealized depreciation | 1,105,839 | 1,637,491 | ||||||||||||
| Net unrealized appreciation(depreciation) | $ | 242,287 | $ | (303,323) | ||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Interest Income | |||||||||||||||||||||||
Interest Income from CP Energy | $ | 2,917 | $ | 2,248 | $ | 8,427 | $ | 5,525 | |||||||||||||||
Interest Income from Spartan | 1,217 | 959 | 3,546 | 2,459 | |||||||||||||||||||
| Total Interest Income | $ | 4,134 | $ | 3,207 | $ | 11,973 | $ | 7,984 | |||||||||||||||
Reimbursement of Legal, Tax, etc. (1) | $ | — | $ | 216 | $ | 77 | $ | 237 | |||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Additions | $ | — | $ | 12,500 | $ | 2,900 | $ | 12,500 | |||||||||||||||
| Interest Income Capitalized as PIK | |||||||||||||||||||||||
| CP Energy | $ | 2,856 | $ | 3,996 | $ | 5,569 | $ | 5,517 | |||||||||||||||
| Spartan | 1,203 | 1,225 | 3,126 | 2,456 | |||||||||||||||||||
| Total Interest Income Capitalized as PIK | $ | 4,059 | $ | 5,221 | $ | 8,695 | $ | 7,973 | |||||||||||||||
| As of | |||||||||||
| March 31, 2024 | June 30, 2023 | ||||||||||
Interest Receivable (2) | $ | 3,318 | $ | 41 | |||||||
Other Receivables (3) | 530 | 297 | |||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Interest Income | $ | 2,069 | $ | 2,065 | $ | 6,118 | $ | 5,878 | |||||||||||||||
| Other Income | |||||||||||||||||||||||
Structuring Fee | $ | — | $ | 62 | $ | — | $ | 123 | |||||||||||||||
| Total Other Income | $ | — | $ | 62 | $ | — | $ | 123 | |||||||||||||||
Managerial Assistance (1) | $ | 175 | $ | 175 | $ | 525 | $ | 525 | |||||||||||||||
Reimbursement of Legal, Tax, etc.(2) | 6 | 12 | 6 | 69 | |||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Additions | $ | — | $ | 3,080 | $ | — | $ | 6,200 | |||||||||||||||
| Accreted Original Issue Discount | 288 | 210 | 809 | 594 | |||||||||||||||||||
| Interest Income Capitalized as PIK | 2,052 | 2,457 | 4,764 | 5,303 | |||||||||||||||||||
| As of | |||||||||||
| March 31, 2024 | June 30, 2023 | ||||||||||
Interest Receivable (2) | $ | 117 | $ | 22 | |||||||
Other Receivables (3) | — | 40 | |||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Interest Income | $ | 830 | $ | 1,099 | $ | 2,639 | $ | 2,860 | |||||||||||||||
Managerial Assistance (1) | 63 | 63 | 188 | 188 | |||||||||||||||||||
Reimbursement of Legal, Tax, etc.(2) | — | 77 | 6 | 89 | |||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Interest Income Capitalized as PIK | $ | — | $ | 1,803 | $ | — | $ | 3,391 | |||||||||||||||
| Repayment of loan receivable | — | — | 1,862 | — | |||||||||||||||||||
| As of | |||||||||||
| March 31, 2024 | June 30, 2023 | ||||||||||
Interest Receivable (3) | $ | 557 | $ | 2,035 | |||||||
Other Receivables (4) | 2 | 10 | |||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Interest Income | $ | 15,678 | $ | 14,273 | $ | 46,676 | $ | 48,636 | |||||||||||||||
Managerial Assistance (1) | 600 | 600 | 1,800 | 1,800 | |||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Interest Income Capitalized as PIK | $ | 2,128 | $ | 14,085 | $ | 18,904 | $ | 28,847 | |||||||||||||||
| Repayment of Loan Receivable | 318 | 987 | 318 | 987 | |||||||||||||||||||
| As of | |||||||||||
| March 31, 2024 | June 30, 2023 | ||||||||||
Interest Receivable (2) | $ | 4,319 | $ | 165 | |||||||
Other Receivables (3) | — | 1 | |||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
Additions (1) | $ | — | $ | 650 | $ | — | $ | 650 | |||||||||||||||
| As of | |||||||||||
| March 31, 2024 | June 30, 2023 | ||||||||||
| Other Receivables | $ | — | $ | 6 | |||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Interest Income | $ | 9,279 | $ | 8,287 | $ | 27,491 | $ | 23,865 | |||||||||||||||
Managerial Assistance (1) | 366 | 366 | 1,097 | 1,097 | |||||||||||||||||||
Reimbursement of Legal, Tax, etc.(2) | — | — | 5 | — | |||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Interest Income Capitalized as PIK | $ | 5,897 | $ | 5,232 | $ | 17,174 | $ | 15,291 | |||||||||||||||
| As of | |||||||||||
| March 31, 2024 | June 30, 2023 | ||||||||||
Interest Receivable (3) | $ | 312 | $ | 97 | |||||||
Other Receivables (4) | 5 | 3 | |||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Interest Income | $ | 43 | $ | — | $ | 43 | $ | — | |||||||||||||||
| Dividend Income | — | — | 80 | 100 | |||||||||||||||||||
| Other Income | |||||||||||||||||||||||
| Structuring Fee | $ | 75 | $ | — | $ | 75 | $ | — | |||||||||||||||
| Total Other Income | $ | 75 | $ | — | $ | 75 | $ | — | |||||||||||||||
Reimbursement of Legal, Tax, etc. (1) | $ | 12 | $ | — | $ | 12 | $ | — | |||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Additions | $ | 1,500 | $ | — | $ | 1,500 | $ | — | |||||||||||||||
| As of | |||||||||||
| March 31, 2024 | June 30, 2023 | ||||||||||
Interest Receivable (2) | $ | 2 | $ | — | |||||||
Other Receivables (3) | $ | — | $ | 13 | |||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Interest Income | $ | 2,230 | $ | 1,935 | $ | 6,668 | $ | 5,989 | |||||||||||||||
Interest Income from Broda Canada | — | — | — | — | |||||||||||||||||||
| Total Interest Income | $ | 2,230 | $ | 1,935 | $ | 6,668 | $ | 5,989 | |||||||||||||||
| Other Income | |||||||||||||||||||||||
Structuring Fee | $ | 63 | $ | — | $ | 63 | $ | — | |||||||||||||||
| Total Other Income | $ | 63 | $ | — | $ | 63 | $ | — | |||||||||||||||
Managerial Assistance (1) | $ | 75 | $ | 75 | $ | 225 | $ | 225 | |||||||||||||||
Reimbursement of Legal, Tax, etc.(2) | 17 | — | 23 | — | |||||||||||||||||||
| Realized (Loss) Gain | (1) | (1) | (1) | (2) | |||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Additions | $ | 2,500 | $ | — | $ | 2,500 | $ | — | |||||||||||||||
| Interest Income Capitalized as PIK | — | 1,136 | — | 2,166 | |||||||||||||||||||
| Repayment of Loan Receivable | — | 666 | — | 2,269 | |||||||||||||||||||
| As of | |||||||||||
| March 31, 2024 | June 30, 2023 | ||||||||||
Interest Receivable (3) | $ | 77 | $ | 24 | |||||||
Other Receivables (4) | 3 | 33 | |||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Interest Income | $ | 23,169 | $ | 24,748 | $ | 75,570 | $ | 67,804 | |||||||||||||||
| Other Income | |||||||||||||||||||||||
Structuring Fee | $ | 376 | $ | — | $ | 15,852 | $ | 261 | |||||||||||||||
| Royalty, net profit and revenue interests | 12,699 | 14,540 | 38,145 | 49,474 | |||||||||||||||||||
| Total Other Income | $ | 13,075 | $ | 14,540 | $ | 53,997 | $ | 49,735 | |||||||||||||||
Managerial Assistance (1) | $ | 1,475 | $ | 525 | $ | 2,525 | $ | 1,575 | |||||||||||||||
Reimbursement of Legal, Tax, etc.(2) | 353 | 9 | 979 | 868 | |||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
Additions (3) | $ | 63,518 | $ | 27,600 | $ | 187,899 | $ | 135,671 | |||||||||||||||
| Interest Income Capitalized as PIK | 250 | 232 | 736 | 251 | |||||||||||||||||||
| Repayment of Loan Receivable | 12,500 | 14,000 | 62,950 | 86,852 | |||||||||||||||||||
| Return of Capital | — | — | — | 4,000 | |||||||||||||||||||
| As of | |||||||||||
| March 31, 2024 | June 30, 2023 | ||||||||||
Interest Receivable (4) | $ | 771 | $ | 3 | |||||||
Other Receivables (5) | 82 | 100 | |||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Interest Income | $ | 1,286 | $ | 1,073 | $ | 3,698 | $ | 3,191 | |||||||||||||||
Managerial Assistance (1) | — | 100 | — | 300 | |||||||||||||||||||
Reimbursement of Legal, Tax, etc. (2) | — | — | 3 | — | |||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Interest Income Capitalized as PIK | $ | 1,263 | $ | 719 | $ | 3,251 | $ | 1,595 | |||||||||||||||
| As of | |||||||||||
| March 31, 2024 | June 30, 2023 | ||||||||||
Interest Receivable (3) | $ | 460 | $ | 13 | |||||||
Other Receivables (4) | 1 | — | |||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Interest Income | $ | 1,060 | $ | 983 | $ | 3,199 | $ | 2,727 | |||||||||||||||
Dividend Income (1) | 510 | 800 | 657 | 2,510 | |||||||||||||||||||
Managerial Assistance (2) | 100 | 100 | 300 | 300 | |||||||||||||||||||
| Realized (Loss) Gain | 1,187 | (799) | 1,040 | (2,510) | |||||||||||||||||||
Reimbursement of Legal, Tax, etc. (3) | 1 | — | 1 | — | |||||||||||||||||||
| As of | |||||||||||
| March 31, 2024 | June 30, 2023 | ||||||||||
Interest Receivable (4) | $ | 35 | $ | 11 | |||||||
Other Receivables (5) | 1 | — | |||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Interest Income | $ | 2,434 | $ | 2,251 | $ | 7,810 | $ | 5,613 | |||||||||||||||
| Other Income | |||||||||||||||||||||||
Structuring Fee | $ | 812 | $ | — | $ | 812 | $ | 105 | |||||||||||||||
| Total Other Income | $ | 812 | $ | — | $ | 812 | $ | 105 | |||||||||||||||
| Reimbursement of Legal, Tax, etc. | $ | — | $ | — | $ | 5 | $ | — | |||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Additions | $ | 32,500 | $ | — | $ | 32,500 | $ | 11,000 | |||||||||||||||
| Interest Income Capitalized as PIK | 2,183 | 2,014 | 6,923 | 5,315 | |||||||||||||||||||
| As of | |||||||||||
| March 31, 2024 | June 30, 2023 | ||||||||||
Interest Receivable (1) | $ | 77 | $ | 30 | |||||||
Other Receivables (2) | 144 | 153 | |||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Interest Income | $ | 1,363 | $ | 1,151 | $ | 3,997 | $ | 3,265 | |||||||||||||||
| Other Income | |||||||||||||||||||||||
Advisory Fee | $ | — | $ | — | $ | 106 | $ | — | |||||||||||||||
| Total Other Income | $ | — | $ | — | $ | 106 | $ | — | |||||||||||||||
Managerial Assistance (1) | $ | 45 | $ | 45 | $ | 135 | $ | 135 | |||||||||||||||
Reimbursement of Legal, Tax, etc.(2) | — | — | 17 | — | |||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Additions | $ | — | $ | — | $ | 3,700 | $ | — | |||||||||||||||
| As of | |||||||||||
| March 31, 2024 | June 30, 2023 | ||||||||||
Interest Receivable (3) | $ | 45 | $ | 13 | |||||||
Other Receivables (4) | — | 5 | |||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Interest Income | $ | 1,037 | $ | 871 | $ | 2,996 | $ | 2,364 | |||||||||||||||
Managerial Assistance (1) | 3 | 3 | 8 | 8 | |||||||||||||||||||
Reimbursement of Legal, Tax, etc. (2) | 5 | — | 3,345 | — | |||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Additions | $ | — | $ | — | $ | 2,500 | $ | — | |||||||||||||||
| Repayment of Loan Receivable | 16 | 8 | 35 | 24 | |||||||||||||||||||
| As of | |||||||||||
| March 31, 2024 | June 30, 2023 | ||||||||||
Interest Receivable (3) | $ | 34 | $ | 10 | |||||||
Other Receivables (4) | 2 | — | |||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Interest Income | $ | 503 | $ | 286 | $ | 1,471 | $ | 722 | |||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Additions | $ | — | $ | — | $ | — | $ | 6,000 | |||||||||||||||
| Interest Income Capitalized as PIK | 424 | 287 | 1,100 | 531 | |||||||||||||||||||
| As of | |||||||||||
| March 31, 2024 | June 30, 2023 | ||||||||||
Interest Receivable (1) | $ | 153 | $ | 5 | |||||||
Other Receivables (2) | 147 | 87 | |||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Interest Income | |||||||||||||||||||||||
Interest Income from Valley | $ | 346 | $ | 319 | $ | 1,045 | $ | 1,173 | |||||||||||||||
Interest Income from Valley Electric | 2,756 | 1,948 | 8,069 | 5,508 | |||||||||||||||||||
| Total Interest Income | $ | 3,102 | $ | 2,267 | $ | 9,114 | $ | 6,681 | |||||||||||||||
Dividend Income (1) | $ | — | $ | — | $ | — | $ | 547 | |||||||||||||||
| Other Income | |||||||||||||||||||||||
| Royalty, net profit and revenue interests | $ | 167 | $ | 167 | $ | 500 | $ | 500 | |||||||||||||||
| Total Other Income | $ | 167 | $ | 167 | $ | 500 | $ | 500 | |||||||||||||||
Managerial Assistance (2) | $ | 150 | $ | 150 | $ | 450 | $ | 450 | |||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | March 31, 2024 | March 31, 2023 | ||||||||||||||||||||
| Interest Income Capitalized as PIK | $ | 1,589 | $ | 1,992 | $ | 3,140 | $ | 1,992 | |||||||||||||||
| Repayment of loan receivable | — | — | — | (548) | |||||||||||||||||||
| As of | |||||||||||
| March 31, 2024 | June 30, 2023 | ||||||||||
Interest Receivable (3) | $ | 2,883 | $ | 33 | |||||||
Other Receivables (4) | 3 | — | |||||||||
| Three Months Ended March 31, | Nine Months Ended March 31, | |||||||||||||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||||||||||||
| Per Share Data | ||||||||||||||||||||||||||
| Net asset value per common share at beginning of period | $ | 8.92 | $ | 9.94 | $ | 9.24 | $ | 10.48 | ||||||||||||||||||
Net investment income(1) | 0.23 | 0.26 | 0.77 | 0.78 | ||||||||||||||||||||||
Net realized and change in unrealized gains (losses) (1) | 0.11 | (0.48) | (0.22) | (1.05) | ||||||||||||||||||||||
| Net increase (decrease) from operations | 0.34 | (0.22) | 0.56 | (7) | (0.27) | |||||||||||||||||||||
| Distributions of net investment income to preferred stockholders | (0.06) | (5) | (0.05) | (4) | (0.18) | (5) | (0.12) | (4) | ||||||||||||||||||
| Distributions of capital gains to preferred stockholders | — | (5) | — | (4) | — | (5) | — | (4) | ||||||||||||||||||
| Total distributions to preferred stockholders | (0.06) | (0.05) | (0.18) | (0.12) | ||||||||||||||||||||||
| Net increase (decrease) from operations applicable to common stockholders | 0.27 | (7) | (0.27) | 0.38 | (0.40) | (7) | ||||||||||||||||||||
| Distributions of net investment income to common stockholders | (0.18) | (5) | (0.18) | (4) | (0.54) | (5) | (0.52) | (4) | ||||||||||||||||||
| Distributions of capital gains to common stockholders | — | (5) | — | (4) | (5) | (0.02) | (4) | |||||||||||||||||||
| Total distributions to common stockholders | (0.18) | (0.18) | (0.54) | (0.54) | ||||||||||||||||||||||
Common stock transactions(2) | (0.03) | (0.01) | (0.09) | (0.07) | ||||||||||||||||||||||
| Net asset value per common share at end of period | $ | 8.99 | $ | 9.48 | $ | 8.99 | $ | 9.48 | ||||||||||||||||||
| Per common share market value at end of period | $ | 5.52 | $ | 6.96 | $ | 5.52 | $ | 6.96 | ||||||||||||||||||
Total return based on market value(3) | (4.77 | %) | 2.16 | % | (2.10 | %) | 7.53 | % | ||||||||||||||||||
Total return based on net asset value(3) | 4.15 | % | (2.14 | %) | 6.98 | % | (2.31 | %) | ||||||||||||||||||
| Shares of common stock outstanding at end of period | 416,150,886 | 400,833,873 | 416,150,886 | 400,833,873 | ||||||||||||||||||||||
| Weighted average shares of common stock outstanding | 414,461,972 | 399,732,263 | 410,571,037 | 397,233,468 | ||||||||||||||||||||||
| Ratios/Supplemental Data | ||||||||||||||||||||||||||
| Net assets at end of period | $ | 3,742,219 | $ | 3,799,294 | $ | 3,742,219 | $ | 3,799,294 | ||||||||||||||||||
| Portfolio turnover rate | 1.48 | % | 1.19 | % | 4.39 | % | 4.47 | % | ||||||||||||||||||
Annualized ratio of operating expenses to average net assets applicable to common shares(6) | 11.62 | % | 11.63 | % | 11.87 | % | 10.85 | % | ||||||||||||||||||
Annualized ratio of net investment income to average net assets applicable to common shares(6) | 10.17 | % | 10.53 | % | 11.31 | % | 10.37 | % | ||||||||||||||||||
| Investment Income | Net Investment Income | Net Realized and Unrealized (Losses) Gains | Net Increase (Decrease) in Net Assets from Operations Applicable to Common Stockholders | |||||||||||||||||||||||||||||||||||||||||||||||
| Quarter Ended | Total | Per Share (1) | Total | Per Share (1) | Total | Per Share (1) | Total | Per Share (1) | ||||||||||||||||||||||||||||||||||||||||||
| September 30, 2021 | $ | 169,474 | $ | 0.44 | $ | 81,369 | $ | 0.21 | $ | 130,762 | $ | 0.34 | $ | 209,724 | $ | 0.54 | ||||||||||||||||||||||||||||||||||
| December 31, 2021 | 175,376 | 0.45 | 85,557 | 0.22 | 168,056 | 0.43 | 246,411 | 0.63 | ||||||||||||||||||||||||||||||||||||||||||
| March 31, 2022 | 181,431 | 0.46 | 87,005 | 0.22 | 77,291 | 0.20 | 157,157 | 0.40 | ||||||||||||||||||||||||||||||||||||||||||
| June 30, 2022 | 184,623 | 0.47 | 89,969 | 0.23 | (137,425) | (0.35) | (56,643) | (0.14) | ||||||||||||||||||||||||||||||||||||||||||
| September 30, 2022 | $ | 202,674 | $ | 0.51 | $ | 99,266 | $ | 0.25 | $ | (191,705) | $ | (0.49) | $ | (105,199) | $ | (0.27) | ||||||||||||||||||||||||||||||||||
| December 31, 2022 | 212,916 | 0.54 | 106,704 | 0.27 | (34,427) | (0.09) | 55,623 | 0.14 | ||||||||||||||||||||||||||||||||||||||||||
| March 31, 2023 | 215,120 | 0.54 | 102,180 | 0.26 | (191,194) | (0.48) | (108,947) | (0.27) | ||||||||||||||||||||||||||||||||||||||||||
| June 30, 2023 | 221,503 | 0.55 | 112,779 | 0.28 | (104,923) | (0.26) | (13,950) | (0.03) | ||||||||||||||||||||||||||||||||||||||||||
| September 30, 2023 | $ | 236,245 | $ | 0.58 | $ | 125,612 | $ | 0.31 | $ | (8,450) | $ | (0.02) | $ | 94,011 | $ | 0.23 | ||||||||||||||||||||||||||||||||||
| December 31, 2023 | 210,942 | 0.51 | 96,927 | 0.24 | (124,293) | (0.30) | (51,436) | (0.13) | ||||||||||||||||||||||||||||||||||||||||||
| March 31, 2024 | 202,215 | 0.49 | 94,375 | 0.23 | 49,061 | 0.12 | 113,891 | 0.27 | ||||||||||||||||||||||||||||||||||||||||||
| Monthly Cash Floating Rate Preferred Shareholder Distribution | Record Date | Payment Date | Monthly Amount ($ per share), before pro ration for partial periods | ||||||||
| June 2024 | 6/18/2024 | 7/1/2024 | $0.152550 | ||||||||
| July 2024 | 7/17/2024 | 8/1/2024 | $0.152550 | ||||||||
| August 2024 | 8/15/2024 | 9/3/2024 | $0.152550 | ||||||||
Monthly Cash 5.50% Preferred Shareholder Distribution | Record Date | Payment Date | Monthly Amount ($ per share), before pro ration for partial periods | ||||||||
| June 2024 | 6/18/2024 | 7/1/2024 | $0.114583 | ||||||||
| July 2024 | 7/17/2024 | 8/1/2024 | $0.114583 | ||||||||
| August 2024 | 8/15/2024 | 9/3/2024 | $0.114583 | ||||||||
Monthly Cash 6.50% Preferred Shareholder Distribution | Record Date | Payment Date | Monthly Amount ($ per share), before pro ration for partial periods | ||||||||
| June 2024 | 6/18/2024 | 7/1/2024 | $0.135417 | ||||||||
| July 2024 | 7/17/2024 | 8/1/2024 | $0.135417 | ||||||||
| August 2024 | 8/15/2024 | 9/3/2024 | $0.135417 | ||||||||
Quarterly Cash 5.35% Preferred Shareholder Distribution | Record Date | Payment Date | Amount ($ per share) | ||||||||
| May 2024 - July 2024 | 7/17/2024 | 8/1/2024 | $0.334375 | ||||||||
| Monthly Cash Common Shareholder Distribution | Record Date | Payment Date | Amount ($ per share) | ||||||||
| May 2024 | 5/29/2024 | 6/18/2024 | $0.0600 | ||||||||
| June 2024 | 6/26/2024 | 7/18/2024 | $0.0600 | ||||||||
| July 2024 | 7/29/2024 | 8/21/2024 | $0.0600 | ||||||||
| August 2024 | 8/28/2024 | 9/19/2024 | $0.0600 | ||||||||
| March 31, 2024 | June 30, 2023 | ||||||||||||||||||||||||||||
| Type of Investment | Cost | % of Portfolio | Fair Value | % of Portfolio | Cost | % of Portfolio | Fair Value | % of Portfolio | |||||||||||||||||||||
| First Lien Revolving Line of Credit | $ | 79,963 | 1.0 | % | $ | 79,390 | 1.0 | % | $ | 58,139 | 0.7 | % | $ | 58,058 | 0.8 | % | |||||||||||||
| First Lien Debt | 4,642,527 | 60.4 | % | 4,528,397 | 58.0 | % | 4,431,887 | 56.8 | % | 4,302,795 | 55.7 | % | |||||||||||||||||
| Second Lien Revolving Line of Credit | 5,145 | 0.1 | % | 4,885 | 0.1 | % | 5,139 | 0.1 | % | 4,646 | 0.1 | % | |||||||||||||||||
| Second Lien Debt | 1,293,688 | 16.8 | % | 1,133,652 | 14.5 | % | 1,586,112 | 20.3 | % | 1,257,862 | 16.3 | % | |||||||||||||||||
| Unsecured Debt | 7,200 | 0.1 | % | 7,200 | 0.1 | % | 7,200 | 0.1 | % | 7,200 | 0.1 | % | |||||||||||||||||
| Subordinated Structured Notes | 864,283 | 11.3 | % | 572,486 | 7.3 | % | 952,815 | 12.3 | % | 665,002 | 8.6 | % | |||||||||||||||||
| Preferred Stock | 391,122 | 5.1 | % | 54,081 | 0.7 | % | 358,622 | 4.6 | % | 34,155 | 0.4 | % | |||||||||||||||||
| Common Stock | 224,304 | 2.9 | % | 1,154,682 | 14.8 | % | 194,557 | 2.5 | % | 1,083,134 | 14.0 | % | |||||||||||||||||
| Membership Interest | 180,440 | 2.3 | % | 223,752 | 2.9 | % | 206,125 | 2.6 | % | 254,936 | 3.3 | % | |||||||||||||||||
| Participating Interest (1) | — | — | % | 48,187 | 0.6 | % | — | — | % | 57,143 | 0.7 | % | |||||||||||||||||
| Total Investments | $ | 7,688,672 | 100.0 | % | $ | 7,806,712 | 100.0 | % | $ | 7,800,596 | 100.0 | % | $ | 7,724,931 | 100.0 | % | |||||||||||||
| March 31, 2024 | June 30, 2023 | ||||||||||||||||||||||||||||
| Industry | Cost | % of Portfolio | Fair Value | % of Portfolio | Cost | % of Portfolio | Fair Value | % of Portfolio | |||||||||||||||||||||
| Aerospace & Defense | $ | 110,320 | 1.4 | % | $ | 63,927 | 0.8 | % | $ | 112,181 | 1.4 | % | $ | 64,198 | 0.8 | % | |||||||||||||
| Air Freight & Logistics | 188,006 | 2.4 | % | 177,351 | 2.3 | % | 188,171 | 2.4 | % | 188,946 | 2.4 | % | |||||||||||||||||
| Automobile Components | 114,610 | 1.5 | % | 90,168 | 1.2 | % | 134,581 | 1.7 | % | 109,525 | 1.4 | % | |||||||||||||||||
| Building Products | 35,000 | 0.5 | % | 34,272 | 0.4 | % | 35,000 | 0.4 | % | 33,120 | 0.4 | % | |||||||||||||||||
| Capital Markets | 42,500 | 0.6 | % | 42,500 | 0.5 | % | 42,500 | 0.5 | % | 39,984 | 0.5 | % | |||||||||||||||||
| Commercial Services & Supplies | 550,371 | 7.1 | % | 505,162 | 6.5 | % | 575,882 | 7.4 | % | 510,858 | 6.6 | % | |||||||||||||||||
| Communications Equipment | 75,155 | 1.0 | % | 64,195 | 0.8 | % | 59,852 | 0.8 | % | 59,677 | 0.8 | % | |||||||||||||||||
| Construction & Engineering | 94,288 | 1.2 | % | 318,271 | 4.1 | % | 91,148 | 1.2 | % | 165,784 | 2.1 | % | |||||||||||||||||
| Consumer Finance | 605,418 | 7.9 | % | 709,813 | 9.1 | % | 625,033 | 8.0 | % | 736,635 | 9.5 | % | |||||||||||||||||
| Distributors | 312,241 | 4.1 | % | 272,146 | 3.5 | % | 288,054 | 3.7 | % | 243,824 | 3.2 | % | |||||||||||||||||
| Diversified Consumer Services | 119,183 | 1.6 | % | 86,341 | 1.0 | % | 281,274 | 3.6 | % | 89,589 | 1.2 | % | |||||||||||||||||
| Diversified Financial Services | 45,155 | 0.6 | % | 45,155 | 0.6 | % | 36,504 | 0.5 | % | 36,504 | 0.5 | % | |||||||||||||||||
| Diversified Telecommunication Services | 159,446 | 2.1 | % | 160,110 | 2.1 | % | 162,239 | 2.1 | % | 161,676 | 2.1 | % | |||||||||||||||||
| Electrical Equipment | 62,147 | 0.8 | % | 62,147 | 0.8 | % | 68,399 | 0.9 | % | 68,464 | 0.9 | % | |||||||||||||||||
| Energy Equipment & Services | 336,705 | 4.4 | % | 112,196 | 1.4 | % | 325,110 | 4.2 | % | 126,730 | 1.6 | % | |||||||||||||||||
| Equity Real Estate Investment Trusts (REITs) | 858,368 | 11.1 | % | 1,433,879 | 18.4 | % | 741,133 | 9.5 | % | 1,437,796 | 18.6 | % | |||||||||||||||||
| Food & Staples Retailing | 27,025 | 0.4 | % | 25,239 | 0.3 | % | 27,139 | 0.3 | % | 26,828 | 0.3 | % | |||||||||||||||||
| Food Products | 131,467 | 1.7 | % | 125,930 | 1.6 | % | 134,889 | 1.7 | % | 122,003 | 1.6 | % | |||||||||||||||||
| Health Care Equipment & Supplies | — | — | % | — | — | % | 7,488 | 0.1 | % | 7,500 | 0.1 | % | |||||||||||||||||
| Health Care Providers & Services | 720,849 | 9.3 | % | 825,395 | 10.6 | % | 687,813 | 8.8 | % | 798,365 | 10.3 | % | |||||||||||||||||
| Health Care Technology | 133,938 | 1.7 | % | 133,486 | 1.7 | % | 129,684 | 1.7 | % | 128,793 | 1.7 | % | |||||||||||||||||
| Hotels, Restaurants & Leisure | 25,055 | 0.3 | % | 19,746 | 0.3 | % | 21,701 | 0.3 | % | 20,776 | 0.3 | % | |||||||||||||||||
| Household Durables | 155,011 | 2.0 | % | 146,163 | 1.9 | % | 159,854 | 2.0 | % | 155,645 | 2.0 | % | |||||||||||||||||
| Interactive Media & Services | 138,831 | 1.8 | % | 138,831 | 1.8 | % | 160,281 | 2.1 | % | 160,281 | 2.1 | % | |||||||||||||||||
| Internet & Direct Marketing Retail | 20,917 | 0.3 | % | 17,297 | 0.2 | % | 20,487 | 0.3 | % | 16,920 | 0.2 | % | |||||||||||||||||
| IT Services | 345,413 | 4.5 | % | 339,353 | 4.3 | % | 357,982 | 4.7 | % | 346,288 | 4.5 | % | |||||||||||||||||
| Leisure Products | 88,399 | 1.1 | % | 88,163 | 1.1 | % | 69,694 | 0.9 | % | 69,380 | 0.9 | % | |||||||||||||||||
| Machinery | 105,505 | 1.4 | % | 160,261 | 2.1 | % | 103,273 | 1.3 | % | 144,649 | 1.9 | % | |||||||||||||||||
| Media | 70,079 | 0.9 | % | 134,583 | 1.7 | % | 103,409 | 1.3 | % | 138,776 | 1.8 | % | |||||||||||||||||
| Online Lending | 20,630 | 0.3 | % | 20,630 | 0.3 | % | 21,580 | 0.3 | % | 21,580 | 0.3 | % | |||||||||||||||||
| Paper & Forest Products | — | — | % | — | — | % | — | — | % | — | — | % | |||||||||||||||||
| Personal Products | 318,298 | 4.0 | % | 104,895 | 1.3 | % | 278,875 | 3.6 | % | 65,746 | 0.9 | % | |||||||||||||||||
| Pharmaceuticals | 97,707 | 1.3 | % | 98,186 | 1.3 | % | 99,269 | 1.3 | % | 99,289 | 1.3 | % | |||||||||||||||||
| Professional Services | 211,965 | 2.8 | % | 173,978 | 2.2 | % | 211,693 | 2.7 | % | 201,494 | 2.6 | % | |||||||||||||||||
| Software | 52,391 | 0.7 | % | 51,866 | 0.7 | % | 52,350 | 0.7 | % | 49,111 | 0.6 | % | |||||||||||||||||
| Technology Hardware, Storage & Peripherals | — | — | % | — | — | % | — | — | % | — | — | % | |||||||||||||||||
| Textiles, Apparel & Luxury Goods | 174,347 | 2.3 | % | 174,347 | 2.2 | % | 167,475 | 2.1 | % | 167,530 | 2.2 | % | |||||||||||||||||
| Trading Companies & Distributors | 67,649 | 0.9 | % | 68,244 | 0.9 | % | 65,184 | 0.8 | % | 45,065 | 0.6 | % | |||||||||||||||||
| Subtotal | 7,688,672 | 100.0 | % | 7,806,712 | 100.0 | % | 6,647,181 | 85.3 | % | 6,859,329 | 88.8 | % | |||||||||||||||||
| Structured Finance(1) | 1,096,750 | 14.4 | % | 811,491 | 10.0 | % | 1,153,415 | 14.7 | % | 865,602 | 11.2 | % | |||||||||||||||||
| Total Investments | $ | 8,785,422 | 114.4 | % | $ | 8,618,203 | 110.0 | % | $ | 7,800,596 | 100.0 | % | $ | 7,724,931 | 100.0 | % | |||||||||||||
| Nine Months Ended March 31, | |||||||||||
| 2024 | 2023 | ||||||||||
| Investments in portfolio companies | |||||||||||
| Investments in new portfolio companies | $ | 105,574 | $ | 348,473 | |||||||
Follow-on investments in existing portfolio companies (1) | 293,498 | 248,933 | |||||||||
| Revolver advances | 28,196 | 8,851 | |||||||||
PIK interest (2) | 95,048 | 97,952 | |||||||||
| Total investments in portfolio companies | $ | 522,316 | $ | 704,209 | |||||||
| Investments by portfolio composition | |||||||||||
| First Lien Debt | $ | 477,971 | $ | 610,230 | |||||||
| Second Lien Debt | 5,587 | 82,390 | |||||||||
| Unsecured Debt | — | 5,799 | |||||||||
| Equity | 38,758 | 5,790 | |||||||||
| Total investments by portfolio composition | $ | 522,316 | $ | 704,209 | |||||||
| Investments repaid or sold | |||||||||||
Partial repayments (3) | $ | 175,720 | $ | 186,731 | |||||||
| Full repayments | 91,224 | 103,052 | |||||||||
| Investments sold | 63,022 | 50,056 | |||||||||
| Revolver paydowns | 9,484 | 1,352 | |||||||||
| Total investments repaid or sold | $ | 339,450 | $ | 341,191 | |||||||
| Investments repaid or sold by portfolio composition | |||||||||||
| First Lien Debt | $ | 232,726 | $ | 240,044 | |||||||
| Second Lien Debt | 108,031 | 61,777 | |||||||||
| Subordinated Structured Notes | — | 31,805 | |||||||||
| Equity | (1,307) | (5) | 7,565 | ||||||||
| Total investments repaid or sold by portfolio composition | $ | 339,450 | $ | 341,191 | |||||||
Weighted average interest rates for new investments by portfolio composition (4) | |||||||||||
| First Lien Debt | 11.60 | % | 11.34 | % | |||||||
| Second Lien Debt | N/A | 13.02 | % | ||||||||
| No. | Property Name | City | Acquisition Date | Purchase Price | Mortgage Outstanding | |||||||||||||||||||||||||||
| 1 | Filet of Chicken | Forest Park, GA | 10/24/2012 | $ | 7,400 | $ | — | |||||||||||||||||||||||||
| 2 | Arlington Park Marietta, LLC | Marietta, GA | 5/8/2013 | 14,850 | 13,464 | |||||||||||||||||||||||||||
| 3 | Taco Bell, OK | Yukon, OK | 6/4/2014 | 1,719 | — | |||||||||||||||||||||||||||
| 4 | Taco Bell, MO | Marshall, MO | 6/4/2014 | 1,405 | — | |||||||||||||||||||||||||||
| 5 | Abbie Lakes OH Partners, LLC | Canal Winchester, OH | 9/30/2014 | 12,600 | 14,598 | |||||||||||||||||||||||||||
| 6 | Kengary Way OH Partners, LLC | Reynoldsburg, OH | 9/30/2014 | 11,500 | 14,760 | |||||||||||||||||||||||||||
| 7 | Lakeview Trail OH Partners, LLC | Canal Winchester, OH | 9/30/2014 | 26,500 | 28,154 | |||||||||||||||||||||||||||
| 8 | Lakepoint OH Partners, LLC | Pickerington, OH | 9/30/2014 | 11,000 | 16,024 | |||||||||||||||||||||||||||
| 9 | Sunbury OH Partners, LLC | Columbus, OH | 9/30/2014 | 13,000 | 16,251 | |||||||||||||||||||||||||||
| 10 | Heatherbridge OH Partners, LLC | Blacklick, OH | 9/30/2014 | 18,416 | 23,201 | |||||||||||||||||||||||||||
| 11 | Jefferson Chase OH Partners, LLC | Blacklick, OH | 9/30/2014 | 13,551 | 18,089 | |||||||||||||||||||||||||||
| 12 | Goldenstrand OH Partners, LLC | Hilliard, OH | 10/29/2014 | 7,810 | 11,018 | |||||||||||||||||||||||||||
| 13 | SSIL I, LLC | Aurora, IL | 11/5/2015 | 34,500 | 24,551 | |||||||||||||||||||||||||||
| 14 | Vesper Tuscaloosa, LLC | Tuscaloosa, AL | 9/28/2016 | 54,500 | 41,289 | |||||||||||||||||||||||||||
| 15 | Vesper Iowa City, LLC | Iowa City, IA | 9/28/2016 | 32,750 | 23,809 | |||||||||||||||||||||||||||
| 16 | Vesper Corpus Christi, LLC | Corpus Christi, TX | 9/28/2016 | 14,250 | 10,358 | |||||||||||||||||||||||||||
| 17 | Vesper Campus Quarters, LLC | Corpus Christi, TX | 9/28/2016 | 18,350 | 13,595 | |||||||||||||||||||||||||||
| 18 | Vesper College Station, LLC | College Station, TX | 9/28/2016 | 41,500 | 30,747 | |||||||||||||||||||||||||||
| 19 | Vesper Statesboro, LLC | Statesboro, GA | 9/28/2016 | 7,500 | 7,461 | |||||||||||||||||||||||||||
| 20 | Vesper Manhattan KS, LLC | Manhattan, KS | 9/28/2016 | 23,250 | 14,679 | |||||||||||||||||||||||||||
| 21 | 9220 Old Lantern Way, LLC | Laurel, MD | 1/30/2017 | 187,250 | 153,361 | |||||||||||||||||||||||||||
| 22 | 7915 Baymeadows Circle Owner, LLC | Jacksonville, FL | 10/31/2017 | 95,700 | 88,885 | |||||||||||||||||||||||||||
| 23 | 8025 Baymeadows Circle Owner, LLC | Jacksonville, FL | 10/31/2017 | 15,300 | 15,468 | |||||||||||||||||||||||||||
| 24 | 23275 Riverside Drive Owner, LLC | Southfield, MI | 11/8/2017 | 52,000 | 54,224 | |||||||||||||||||||||||||||
| No. | Property Name | City | Acquisition Date | Purchase Price | Mortgage Outstanding | |||||||||||||||||||||||||||
| 25 | 23741 Pond Road Owner, LLC | Southfield, MI | 11/8/2017 | 16,500 | 18,768 | |||||||||||||||||||||||||||
| 26 | 150 Steeplechase Way Owner, LLC | Largo, MD | 1/10/2018 | 44,500 | 35,992 | |||||||||||||||||||||||||||
| 27 | Olentangy Commons Owner LLC | Columbus, OH | 6/1/2018 | 113,000 | 92,876 | |||||||||||||||||||||||||||
| 28 | Villages of Wildwood Holdings LLC | Fairfield, OH | 7/20/2018 | 46,500 | 58,393 | |||||||||||||||||||||||||||
| 29 | Falling Creek Holdings LLC | Richmond, VA | 8/8/2018 | 25,000 | 25,374 | |||||||||||||||||||||||||||
| 30 | Crown Pointe Passthrough LLC | Danbury, CT | 8/30/2018 | 108,500 | 89,400 | |||||||||||||||||||||||||||
| 31 | Lorring Owner LLC | Forestville, MD | 10/30/2018 | 58,521 | 47,680 | |||||||||||||||||||||||||||
| 32 | Hamptons Apartments Owner, LLC | Beachwood, OH | 1/9/2019 | 96,500 | 79,520 | |||||||||||||||||||||||||||
| 33 | 5224 Long Road Holdings, LLC | Orlando, FL | 6/28/2019 | 26,500 | 21,200 | |||||||||||||||||||||||||||
| 34 | Druid Hills Holdings LLC | Atlanta, GA | 7/30/2019 | 96,000 | 79,104 | |||||||||||||||||||||||||||
| 35 | Bel Canto NPRC Parcstone LLC | Fayetteville, NC | 10/15/2019 | 45,000 | 42,793 | |||||||||||||||||||||||||||
| 36 | Bel Canto NPRC Stone Ridge LLC | Fayetteville, NC | 10/15/2019 | 21,900 | 21,545 | |||||||||||||||||||||||||||
| 37 | Sterling Place Holdings LLC | Columbus, OH | 10/28/2019 | 41,500 | 34,196 | |||||||||||||||||||||||||||
| 38 | SPCP Hampton LLC | Dallas, TX | 11/2/2020 | 36,000 | 38,843 | |||||||||||||||||||||||||||
| 39 | Palmetto Creek Holdings LLC | North Charleston, SC | 11/10/2020 | 33,182 | 25,865 | |||||||||||||||||||||||||||
| 40 | Valora at Homewood Holdings LLC | Homewood, AL | 11/19/2020 | 81,250 | 63,844 | |||||||||||||||||||||||||||
| 41 | NPRC Fairburn LLC | Fairburn, GA | 12/14/2020 | 52,140 | 43,900 | |||||||||||||||||||||||||||
| 42 | NPRC Grayson LLC | Grayson, GA | 12/14/2020 | 47,860 | 40,500 | |||||||||||||||||||||||||||
| 43 | NPRC Taylors LLC | Taylors, SC | 1/27/2021 | 18,762 | 14,075 | |||||||||||||||||||||||||||
| 44 | Parkside at Laurel West Owner LLC | Spartanburg, SC | 2/26/2021 | 57,005 | 42,025 | |||||||||||||||||||||||||||
| 45 | Willows at North End Owner LLC | Spartanburg, SC | 2/26/2021 | 23,255 | 19,000 | |||||||||||||||||||||||||||
| 46 | SPCP Edge CL Owner LLC | Webster, TX | 3/12/2021 | 34,000 | 25,496 | |||||||||||||||||||||||||||
| 47 | Jackson Pear Orchard LLC | Ridgeland, MS | 6/28/2021 | 50,900 | 42,975 | |||||||||||||||||||||||||||
| 48 | Jackson Lakeshore Landing LLC | Ridgeland, MS | 6/28/2021 | 22,600 | 17,955 | |||||||||||||||||||||||||||
| 49 | Jackson Reflection Pointe LLC | Flowood, MS | 6/28/2021 | 45,100 | 33,203 | |||||||||||||||||||||||||||
| 50 | Jackson Crosswinds LLC | Pearl, MS | 6/28/2021 | 41,400 | 38,601 | |||||||||||||||||||||||||||
| 51 | Elliot Apartments Norcross, LLC | Norcross, GA | 11/30/2021 | 128,000 | 106,082 | |||||||||||||||||||||||||||
| 52 | Orlando 442 Owner, LLC (West Vue Apartments) | Orlando, FL | 12/30/2021 | 97,500 | 73,000 | |||||||||||||||||||||||||||
| 53 | NPRC Wolfchase LLC | Memphis, TN | 3/18/2022 | 82,100 | 60,000 | |||||||||||||||||||||||||||
| 54 | NPRC Twin Oaks LLC | Hattiesburg. MS | 3/18/2022 | 44,850 | 35,452 | |||||||||||||||||||||||||||
| 55 | NPRC Lancaster LLC | Birmingham, AL | 3/18/2022 | 37,550 | 29,167 | |||||||||||||||||||||||||||
| 56 | NPRC Rutland LLC | Macon, GA | 3/18/2022 | 29,750 | 23,667 | |||||||||||||||||||||||||||
| 57 | Southport Owner LLC (Southport Crossing) | Indianapolis, IN | 3/29/2022 | 48,100 | 36,075 | |||||||||||||||||||||||||||
| 58 | TP Cheyenne, LLC | Cheyenne, WY | 5/26/2022 | 27,500 | 17,656 | |||||||||||||||||||||||||||
| 59 | TP Pueblo, LLC | Pueblo, CO | 5/26/2022 | 31,500 | 20,166 | |||||||||||||||||||||||||||
| 60 | TP Stillwater, LLC | Stillwater, OK | 5/26/2022 | 26,100 | 15,328 | |||||||||||||||||||||||||||
| 61 | TP Kokomo, LLC | Kokomo, IN | 5/26/2022 | 20,500 | 12,753 | |||||||||||||||||||||||||||
| 62 | Terraces at Perkins Rowe JV LLC | Baton Rouge, LA | 11/14/2022 | 41,400 | 29,566 | |||||||||||||||||||||||||||
| 63 | NPRC Apex Holdings LLC | Cincinnati, OH | 1/19/2024 | 34,225 | 27,712 | |||||||||||||||||||||||||||
| 64 | NPRC Parkton Holdings LLC | Cincinnati, OH | 1/19/2024 | 45,775 | 37,090 | |||||||||||||||||||||||||||
| $ | 2,694,826 | $ | 2,250,823 | |||||||||||||||||||||||||||||
| Principal Outstanding | Unamortized Discount & Debt Issuance Costs | Net Carrying Value | Fair Value | Effective Interest Rate | |||||||||||||||||||||||||||||||
| Revolving Credit Facility | $ | 906,376 | $ | 13,019 | $ | 906,376 | $ | 906,376 | 1M SOFR + | 2.05 | % | ||||||||||||||||||||||||
| 2025 Notes | 156,168 | 885 | 155,283 | 155,556 | 6.63 | % | |||||||||||||||||||||||||||||
| Convertible Notes | 156,168 | 155,283 | 155,556 | ||||||||||||||||||||||||||||||||
| 2026 Notes | 400,000 | 3,766 | 396,234 | 379,408 | 3.98 | % | |||||||||||||||||||||||||||||
| 3.364% | 2026 Notes | 300,000 | 3,728 | 296,272 | 274,068 | 3.60 | % | ||||||||||||||||||||||||||||
| 3.437% | 2028 Notes | 300,000 | 6,095 | 293,905 | 257,556 | 3.64 | % | ||||||||||||||||||||||||||||
| Public Notes | 1,000,000 | 986,411 | 911,032 | ||||||||||||||||||||||||||||||||
| Prospect Capital InterNotes® | 442,953 | 7,403 | 435,550 | 416,986 | 6.17 | % | |||||||||||||||||||||||||||||
| Total | $ | 2,505,497 | $ | 2,483,620 | $ | 2,389,950 | |||||||||||||||||||||||||||||
| Principal Outstanding | Unamortized Discount & Debt Issuance Costs | Net Carrying Value | Fair Value | Effective Interest Rate | |||||||||||||||||||||||||||||||
| Revolving Credit Facility | $ | 1,014,703 | $ | 15,569 | $ | 1,014,703 | $ | 1,014,703 | 1M SOFR + | 2.05 | % | ||||||||||||||||||||||||
| 2025 Notes | 156,168 | 1,577 | 154,591 | 154,107 | 6.63 | % | |||||||||||||||||||||||||||||
| Convertible Notes | 156,168 | 154,591 | 154,107 | ||||||||||||||||||||||||||||||||
| 6.375% | 2024 Notes | 81,240 | 108 | 81,132 | 80,818 | 6.57 | % | ||||||||||||||||||||||||||||
| 2026 Notes | 400,000 | 5,244 | 394,756 | 354,896 | 3.98 | % | |||||||||||||||||||||||||||||
| 3.364% | 2026 Notes | 300,000 | 4,730 | 295,270 | 252,282 | 3.60 | % | ||||||||||||||||||||||||||||
| 3.437% | 2028 Notes | 300,000 | 7,021 | 292,979 | 230,472 | 3.64 | % | ||||||||||||||||||||||||||||
| Public Notes | 1,081,240 | 1,064,137 | 918,468 | ||||||||||||||||||||||||||||||||
| Prospect Capital InterNotes® | 358,105 | 6,688 | 351,417 | 313,538 | 5.77 | % | |||||||||||||||||||||||||||||
| Total | $ | 2,610,216 | $ | 2,584,848 | $ | 2,400,816 | |||||||||||||||||||||||||||||
| Payments Due by Fiscal Year ending June 30, | |||||||||||||||||||||||||||||||||||||||||
| Total | Remainder of 2024 | 2025 | 2026 | 2027 | 2028 | After 5 Years | |||||||||||||||||||||||||||||||||||
| Revolving Credit Facility | $ | 906,376 | $ | — | $ | — | $ | — | $ | — | $ | 906,376 | $ | — | |||||||||||||||||||||||||||
| Convertible Notes | 156,168 | — | 156,168 | — | — | — | — | ||||||||||||||||||||||||||||||||||
| Public Notes | 1,000,000 | — | — | 400,000 | 300,000 | — | 300,000 | ||||||||||||||||||||||||||||||||||
| Prospect Capital InterNotes® | 442,953 | — | 1,499 | 38,442 | 104,016 | 15,254 | 283,742 | ||||||||||||||||||||||||||||||||||
| Total Contractual Obligations | $ | 2,505,497 | $ | — | $ | 157,667 | $ | 438,442 | $ | 404,016 | $ | 921,630 | $ | 583,742 | |||||||||||||||||||||||||||
| March 31, 2024 | June 30, 2023 | |||||||||||||
| Net assets available to common stockholders | $ | 3,742,219 | $ | 3,732,665 | ||||||||||
| Shares of common stock issued and outstanding | 416,150,886 | 404,033,549 | ||||||||||||
| Net asset value per common share | $ | 8.99 | $ | 9.24 | ||||||||||
| Three Months Ended March 31, | Nine Months Ended March 31, | |||||||||||||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||||||||||||
| Investment income | $ | 202,215 | $ | 215,120 | $ | 649,402 | $ | 630,710 | ||||||||||||||||||
| Operating expenses | 107,840 | 112,940 | 332,488 | 322,560 | ||||||||||||||||||||||
| Net investment income | 94,375 | 102,180 | 316,914 | 308,150 | ||||||||||||||||||||||
| Net realized (losses) from investments | (69,763) | (32,213) | (277,129) | (39,092) | ||||||||||||||||||||||
| Net change in unrealized gains (losses) from investments | 119,817 | (158,923) | 193,705 | (378,096) | ||||||||||||||||||||||
| Net realized (losses) on extinguishment of debt | (68) | (58) | (212) | (138) | ||||||||||||||||||||||
| Net increase (decrease) in net assets resulting from operations | 144,361 | (89,014) | 233,278 | (109,176) | ||||||||||||||||||||||
| Preferred stock dividend | (24,812) | (19,933) | (72,033) | (49,347) | ||||||||||||||||||||||
| Net (loss) on redemptions of preferred stock | (925) | — | (46) | — | ||||||||||||||||||||||
| (Loss) on Accretion to Redemption Value of Preferred Stock | (4,733) | — | (4,733) | — | ||||||||||||||||||||||
| Net Increase (Decrease) in Net Assets Resulting from Operations applicable to Common Stockholders | $ | 113,891 | $ | (108,947) | $ | 156,466 | $ | (158,523) | ||||||||||||||||||
| Three Months Ended March 31, | Nine Months Ended March 31, | ||||||||||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||||||||||
| Interest income | $ | 183,932 | $ | 198,136 | $ | 581,010 | $ | 563,330 | |||||||||||||||
| Dividend income | 1,979 | 1,928 | 6,378 | 7,046 | |||||||||||||||||||
| Other income | 16,304 | 15,056 | 62,014 | 60,334 | |||||||||||||||||||
| Total investment income | $ | 202,215 | $ | 215,120 | $ | 649,402 | $ | 630,710 | |||||||||||||||
Average debt principal of performing interest bearing investments(1) | $ | 7,261,614 | $ | 7,205,384 | $ | 7,238,843 | $ | 7,114,627 | |||||||||||||||
Weighted average interest rate earned on performing interest bearing investments(1) | 10.02 | % | 11.00 | % | 10.51 | % | 10.40 | % | |||||||||||||||
Average debt principal of all interest bearing investments(2) | $ | 7,648,485 | $ | 7,520,238 | $ | 7,666,849 | $ | 7,432,964 | |||||||||||||||
Weighted average interest rate earned on all interest bearing investments(2) | 9.51 | % | 10.54 | % | 9.92 | % | 9.96 | % | |||||||||||||||
| Three Months Ended March 31, | Nine Months Ended March 31, | |||||||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||||||
| Dividend income | ||||||||||||||||||||
| NMMB, Inc. | 510 | 800 | 657 | 2,510 | ||||||||||||||||
| RGIS Services, LLC | $ | — | $ | — | $ | 1,307 | $ | 1,374 | ||||||||||||
| Valley Electric Company, Inc. | — | — | — | 547 | ||||||||||||||||
| Other, net | 1,469 | 1,128 | 4,414 | 2,615 | ||||||||||||||||
| Total dividend income | $ | 1,979 | $ | 1,928 | $ | 6,378 | $ | 7,046 | ||||||||||||
| For the Three Months Ended March 31, | For the Nine Months Ended March 31, | |||||||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||||||
| Structuring and amendment fees | ||||||||||||||||||||
| Emerge Intermediate, Inc. | $ | 825 | $ | — | $ | 825 | $ | — | ||||||||||||
| Pacific World Corporation | 812 | — | 812 | — | ||||||||||||||||
| Collections Acquisition Company, Inc. | 658 | — | 658 | — | ||||||||||||||||
| Faraday Buyer, LLC | — | — | 1,404 | 2,012 | ||||||||||||||||
| The RK Logistics Group, Inc. | — | — | 519 | — | ||||||||||||||||
| USG Intermediate, LLC | — | — | 500 | — | ||||||||||||||||
| National Property REIT Corp. | — | — | 15,476 | — | ||||||||||||||||
| Julie Lindsey, Inc. | — | — | 550 | — | ||||||||||||||||
| NH Kronos Buyer, Inc. | — | — | — | 2,063 | ||||||||||||||||
| WatchGuard Technologies, Inc. | — | — | — | 2,275 | ||||||||||||||||
| Burgess Point Purchaser Corporation | — | — | — | 1,200 | ||||||||||||||||
| First Tower Finance Company LLC | — | — | — | 600 | ||||||||||||||||
| Other, net | 939 | 145 | 2,055 | 1,725 | ||||||||||||||||
| Total structuring and amendment fees | $ | 3,234 | $ | 145 | $ | 22,799 | $ | 9,875 | ||||||||||||
| Royalty, net profit and revenue interests | ||||||||||||||||||||
| National Property REIT Corp. | $ | 12,699 | $ | 14,540 | $ | 38,145 | $ | 49,474 | ||||||||||||
| Other, net | 168 | 200 | 505 | 553 | ||||||||||||||||
| Total royalty and net revenue interests | $ | 12,867 | $ | 14,740 | $ | 38,650 | $ | 50,027 | ||||||||||||
| Administrative agent fees | ||||||||||||||||||||
| Other, net | $ | 203 | $ | 171 | $ | 565 | $ | 432 | ||||||||||||
| Total administrative agent fees | $ | 203 | $ | 171 | $ | 565 | $ | 432 | ||||||||||||
| Total other income | $ | 16,304 | $ | 15,056 | $ | 62,014 | $ | 60,334 | ||||||||||||
| Three Months Ended March 31, | Nine Months Ended March 31, | ||||||||||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||||||||||
| Base management fee | $ | 39,218 | $ | 38,980 | $ | 117,594 | $ | 116,176 | |||||||||||||||
| Income incentive fee | 17,390 | 20,561 | 61,332 | 64,692 | |||||||||||||||||||
| Interest and credit facility expenses | 39,841 | 37,517 | 120,478 | 109,170 | |||||||||||||||||||
| Allocation of overhead from Prospect Administration | 5,708 | 9,773 | 20,073 | 16,490 | |||||||||||||||||||
| Audit, compliance and tax related fees | 583 | 1,495 | 2,079 | 4,032 | |||||||||||||||||||
| Directors’ fees | 150 | 131 | 416 | 393 | |||||||||||||||||||
| Other general and administrative expenses | 4,950 | 4,483 | 10,516 | 11,607 | |||||||||||||||||||
| Total operating expenses | $ | 107,840 | $ | 112,940 | $ | 332,488 | $ | 322,560 | |||||||||||||||
| Three Months Ended March 31, | Nine Months Ended March 31, | ||||||||||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||||||||||
| Interest on borrowings | $ | 35,610 | $ | 33,489 | $ | 108,211 | $ | 98,555 | |||||||||||||||
| Amortization of deferred financing costs | 1,890 | 1,773 | 5,610 | 5,255 | |||||||||||||||||||
| Accretion of discount on unsecured debt | 717 | 765 | 2,156 | 2,304 | |||||||||||||||||||
| Facility commitment fees | 1,624 | 1,490 | 4,501 | 3,056 | |||||||||||||||||||
| Total interest and credit facility expenses | $ | 39,841 | $ | 37,517 | $ | 120,478 | $ | 109,170 | |||||||||||||||
| Average principal debt outstanding | $ | 2,625,284 | $ | 2,658,938 | $ | 2,650,971 | $ | 2,782,599 | |||||||||||||||
Annualized weighted average stated interest rate on borrowings(1) | 5.43 | % | 5.04 | % | 5.44 | % | 4.72 | % | |||||||||||||||
Annualized weighted average interest rate on borrowings(2) | 6.07 | % | 5.64 | % | 6.06 | % | 5.23 | % | |||||||||||||||
| Three Months Ended March 31, | |||||||||||
| Portfolio Company | 2024 | 2023 | |||||||||
| NMMB Inc. | $ | 1,188 | $ | (799) | |||||||
| Symphony CLO XIV, Ltd. | 259 | — | |||||||||
| Other, net | 80 | 72 | |||||||||
| Strategic Materials Holding Corp. | — | (82) | |||||||||
| Halcyon Loan Advisors Funding 2014-1 Ltd. | — | (11,425) | |||||||||
| Halcyon Loan Advisors Funding 2013-1 Ltd. | — | (19,979) | |||||||||
| Engine Group, Inc. | (28,968) | — | |||||||||
| Curo Group Holdings Corp. | (42,322) | — | |||||||||
| Net realized gains (losses) from investments | $ | (69,763) | $ | (32,213) | |||||||
| Nine Months Ended March 31, | |||||||||||
| Portfolio Company | 2024 | 2023 | |||||||||
| NMMB Inc. | $ | 1,040 | $ | (2,510) | |||||||
| Other, net | 159 | 86 | |||||||||
| Halcyon 2021-1 CLO, Ltd. | (3,704) | — | |||||||||
| Symphony XIV CLO, Ltd. | (21,888) | — | |||||||||
| Engine Group, Inc. | (28,968) | — | |||||||||
| Curo Group Holdings Corp. | (42,322) | — | |||||||||
| PGX Holdings, Inc. | (181,446) | — | |||||||||
| Targus Group International, Inc. | — | 16,143 | |||||||||
| Sudbury Mill CLO, Ltd. | — | 1,065 | |||||||||
| Voya CLO 2012-3, Ltd. | — | 440 | |||||||||
| Voya CLO 2012-2, Ltd. | — | 433 | |||||||||
| Strategic Materials Holding Corp. | — | (82) | |||||||||
| Dunn Paper, Inc. | — | (8,791) | |||||||||
| Halcyon Loan Advisors Funding 2014-1 Ltd. | — | (11,425) | |||||||||
| Venio LLC | — | (14,472) | |||||||||
| Halcyon Loan Advisors Funding 2013-1 Ltd. | — | (19,979) | |||||||||
| Net realized gains (losses) from investments | $ | (277,129) | $ | (39,092) | |||||||
| Three Months Ended March 31, | Nine Months Ended March 31, | ||||||||||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||||||||||
| Control investments | $ | 125,827 | $ | (41,162) | $ | 8,592 | $ | (109,909) | |||||||||||||||
| Affiliate investments | (487) | — | 2,101 | (89,034) | |||||||||||||||||||
| Non-control/non-affiliate investments | (5,523) | (117,761) | 183,012 | (179,153) | |||||||||||||||||||
| Net change in unrealized gains (losses) | $ | 119,817 | $ | (158,923) | $ | 193,705 | $ | (378,096) | |||||||||||||||
| Net Change in Unrealized Gains (Losses) | |||||||||||
| Valley Electric Company, Inc. | $ | 104,138 | |||||||||
| Engine Group, Inc. | 28,990 | ||||||||||
| Curo Group Holdings Corp. | 28,967 | ||||||||||
| National Property REIT Corp. | 24,705 | ||||||||||
| Universal Turbine Parts, LLC | 8,221 | ||||||||||
| InterDent, Inc. | 7,610 | ||||||||||
| Subordinated Structured Notes | (6,538) | ||||||||||
| Other, net | (11,319) | ||||||||||
| First Tower Finance Company LLC | (15,003) | ||||||||||
| Research Now Group, LLC and Dynata, LLC | (24,023) | ||||||||||
| Credit.com Holdings, LLC | (25,931) | ||||||||||
| Net change in unrealized gains (losses) | $ | 119,817 | |||||||||
| Net Change in Unrealized Gains (Losses) | |||||||||||
| Subordinated Structured Notes | $ | 28,946 | |||||||||
| InterDent, Inc. | 20,534 | ||||||||||
| R-V Industries, Inc. | 6,520 | ||||||||||
| USES Corp. | (10,380) | ||||||||||
| CP Energy Services Inc. | (14,455) | ||||||||||
| National Property REIT Corp. | (17,563) | ||||||||||
| Other, net | (20,276) | ||||||||||
| First Tower Finance Company LLC | (28,034) | ||||||||||
| PGX Holdings, Inc. | (124,215) | ||||||||||
| Net change in unrealized gains (losses) | $ | (158,923) | |||||||||
| Net Change in Unrealized Gains (Losses) | |||||||||||
PGX Holdings, Inc. (1) | $ | 179,986 | |||||||||
| Valley Electric Company, Inc. | 149,346 | ||||||||||
Curo Group Holdings Corp. (2) | 29,985 | ||||||||||
Engine Group, Inc. (3) | 29,090 | ||||||||||
| Universal Turbine Parts, LLC | 20,714 | ||||||||||
| R-V Industries, Inc. | 13,441 | ||||||||||
| Other, net | 11,655 | ||||||||||
| MITY, Inc. | 11,430 | ||||||||||
| Rising Tide Holdings, Inc. | (6,142) | ||||||||||
| Reception Purchaser, LLC | (6,835) | ||||||||||
| Nationwide Loan Company LLC | (7,761) | ||||||||||
| Securus Technologies Holdings, Inc. | (10,785) | ||||||||||
| Credit.com Holdings, LLC | (15,000) | ||||||||||
| CP Energy Services Inc. | (25,942) | ||||||||||
| First Tower Finance Company LLC | (26,532) | ||||||||||
| Research Now Group, LLC and Dynata, LLC | (31,794) | ||||||||||
| National Property REIT Corp. | (121,151) | ||||||||||
| Net change in unrealized gains (losses) | $ | 193,705 | |||||||||
| Net Change in Unrealized Gains (Losses) | |||||||||||
| Town & Country Holdings, Inc. | $ | 38,370 | |||||||||
| InterDent, Inc. | 30,267 | ||||||||||
| Subordinated Structured Notes | 17,665 | ||||||||||
| United Sporting Companies, Inc. | 15,462 | ||||||||||
| Universal Turbine Parts, LLC | 11,418 | ||||||||||
| R-V Industries, Inc. | 9,726 | ||||||||||
| The RK Logistics Group, Inc. | 8,072 | ||||||||||
| Dunn Paper, Inc. | 6,493 | ||||||||||
| Valley Electric Company, Inc. | (6,959) | ||||||||||
| Redstone Holdco 2 LP | (7,232) | ||||||||||
| Echelon Transportation, LLC | (8,285) | ||||||||||
| Research Now Group, Inc. & Survey Sampling International LLC | (10,279) | ||||||||||
| Rising Tide Holdings, Inc. | (10,548) | ||||||||||
| Precisely Software Incorporated (f/k/a Vision Solutions, Inc.) | (10,610) | ||||||||||
| Curo Group Holdings Corp. | (11,147) | ||||||||||
| USES Corp. | (12,659) | ||||||||||
| Credit Central Loan Company, LLC | (13,007) | ||||||||||
| Securus Technologies Holdings, Inc. | (13,455) | ||||||||||
| CP Energy Services Inc. | (16,760) | ||||||||||
| K&N HoldCo, LLC | (23,149) | ||||||||||
| First Tower Finance Company LLC | (26,711) | ||||||||||
| Targus Cayman HoldCo Limited | (33,202) | ||||||||||
| Other, net | (64,523) | ||||||||||
| National Property REIT Corp. | (66,134) | ||||||||||
| PGX Holdings, Inc. | (180,909) | ||||||||||
| Net change in unrealized gains (losses) | $ | (378,096) | |||||||||
| Monthly Cash Floating Rate Preferred Shareholder Distribution | Record Date | Payment Date | Monthly Amount ($ per share), before pro ration for partial periods | ||||||||
| June 2024 | 6/18/2024 | 7/1/2024 | $0.152550 | ||||||||
| July 2024 | 7/17/2024 | 8/1/2024 | $0.152550 | ||||||||
| August 2024 | 8/15/2024 | 9/3/2024 | $0.152550 | ||||||||
| Monthly Cash 5.50% Preferred Shareholder Distribution | Record Date | Payment Date | Monthly Amount ($ per share), before pro ration for partial periods | ||||||||
| June 2024 | 6/18/2024 | 7/1/2024 | $0.114583 | ||||||||
| July 2024 | 7/17/2024 | 8/1/2024 | $0.114583 | ||||||||
| August 2024 | 8/15/2024 | 9/3/2024 | $0.114583 | ||||||||
Monthly Cash 6.50% Preferred Shareholder Distribution | Record Date | Payment Date | Monthly Amount ($ per share), before pro ration for partial periods | ||||||||
| June 2024 | 6/18/2024 | 7/1/2024 | $0.135417 | ||||||||
| July 2024 | 7/17/2024 | 8/1/2024 | $0.135417 | ||||||||
| August 2024 | 8/15/2024 | 9/3/2024 | $0.135417 | ||||||||
| Quarterly Cash 5.35% Preferred Shareholder Distribution | Record Date | Payment Date | Amount ($ per share) | ||||||||
| May 2024 - July 2024 | 7/17/2024 | 8/1/2024 | $0.334375 | ||||||||
| Monthly Cash Common Shareholder Distribution | Record Date | Payment Date | Amount ($ per share) | ||||||||
| May 2024 | 5/29/2024 | 6/18/2024 | $0.0600 | ||||||||
| June 2024 | 6/26/2024 | 7/18/2024 | $0.0600 | ||||||||
| August 2024 | 8/28/2024 | 9/19/2024 | $0.0600 | ||||||||
| (in thousands) Basis Point Change | Increase (Decrease) in Interest Income | (Increase) Decrease in Interest Expense | Increase (Decrease) in Investment Income | Increase (Decrease) in Incentive Fee (2) | Increase (Decrease) in Net Investment Income (1) | |||||||||||||||||||||||||||
| Up 300 basis points | $ | 143,577 | $ | (27,191) | $ | 116,386 | $ | 309 | $ | 92,861 | ||||||||||||||||||||||
| Up 200 basis points | $ | 95,718 | $ | (18,128) | $ | 77,590 | $ | 309 | $ | 61,825 | ||||||||||||||||||||||
| Up 100 basis points | $ | 48,332 | $ | (9,064) | $ | 39,269 | $ | 309 | $ | 31,168 | ||||||||||||||||||||||
| Down 100 basis points | $ | (50,035) | $ | 9,064 | $ | (40,971) | $ | (376) | $ | (32,476) | ||||||||||||||||||||||
| Down 200 basis points | $ | (90,962) | $ | 18,128 | $ | (72,834) | $ | (376) | $ | (57,967) | ||||||||||||||||||||||
| Down 300 basis points | $ | (129,548) | $ | 27,191 | $ | (102,357) | $ | (376) | $ | (81,585) | ||||||||||||||||||||||
| Assumed Return on Our Portfolio (net of expenses) | (10)% | (5)% | 0% | 5% | 10% | ||||||||||||
| Corresponding Return to Common Stockholder(1) | (31.0)% | (19.4)% | (7.7)% | 4.0% | 15.6% | ||||||||||||
| Assumed Return on Our Portfolio (net of expenses) | (10)% | (5)% | 0% | 5% | 10% | ||||||||||||
| Corresponding Return to Common Stockholder(2) | (19.2)% | (11.2)% | (3.3)% | 4.6% | 12.5% | ||||||||||||
| Stock Price | Premium (Discount) of High to NAV | Premium (Discount) of Low to NAV | |||||||||||||||||||||||||||||||||||||||||||||||||||
| NAV(1) | High(2) | Low(2) | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Year Ended June 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| First quarter | $ | 10.12 | $ | 8.46 | $ | 7.69 | (16.4) | % | (24.0) | % | |||||||||||||||||||||||||||||||||||||||||||
| Second quarter | 10.60 | 9.00 | 7.83 | (15.1) | % | (26.1) | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Third quarter | 10.81 | 8.89 | 7.86 | (17.8) | % | (27.3) | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Fourth quarter | 10.48 | 8.48 | 6.68 | (19.1) | % | (36.3) | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Year Ended June 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| First quarter | $ | 10.01 | $ | 8.18 | $ | 6.11 | (18.3) | % | (39.0) | % | |||||||||||||||||||||||||||||||||||||||||||
| Second quarter | 9.94 | 7.82 | 6.39 | (21.3) | % | (35.7) | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Third quarter | 9.48 | 7.66 | 6.67 | (19.2) | % | (29.6) | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Fourth quarter | 9.24 | 6.94 | 6.08 | (24.9) | % | (34.2) | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Twelve Months Ending June 30, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| First quarter | $ | 9.25 | $ | 6.65 | $ | 5.94 | (28.1) | % | (35.8) | % | |||||||||||||||||||||||||||||||||||||||||||
| Second quarter | 8.92 | 6.18 | 5.08 | (30.7) | % | (43.0) | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Third quarter | 8.99 | 6.24 | 5.33 | (30.6) | % | (40.7) | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Title of Class of Securities | Amount Authorized | Amount Held by Registrant or for its Account | Amount Outstanding Exclusive of Amount held by Registrant or for its Account | ||||||||||||||||||||
| Common Stock | 1,352,100,000 | — | 417,757,689 | ||||||||||||||||||||
| Preferred Stock | 647,900,000 | — | 69,328,321 | ||||||||||||||||||||
| 2025 Notes | $ | 201,250 | — | $ | 156,168 | ||||||||||||||||||
| 2026 Notes | $ | 400,000 | — | $ | 400,000 | ||||||||||||||||||
| 3.364% 2026 Notes | $ | 300,000 | — | $ | 300,000 | ||||||||||||||||||
| 3.437% 2028 Notes | $ | 300,000 | — | $ | 300,000 | ||||||||||||||||||
| Prospect Capital InterNotes® | $ | 1,000,000 | — | $ | 462,401 | (1) | |||||||||||||||||
| Date of Offering | Price Per Share to Investors | Shares Issued | Estimated Net Asset Value per Common Share(1) | Percentage Dilution | ||||||||||
| June 15, 2020 to June 22, 2020(2) | $5.29 - $5.40 | 1,158,222 | $7.93 - 7.94 | 0.10% | ||||||||||
| Stockholder transaction expenses: | A1, A3, and A4 Shares | M1, M2, M3, and M4 Shares | AA1 Shares, MM1 Shares, AA2 Shares, and MM2 Shares | |||||||||||||||||
| Sales Load (as a percentage of offering price) | 10.00% | (1) | 3.00% | (2) | 5.00% | (3) | ||||||||||||||
| Offering expenses borne by the Company (as a percentage of offering price) | (4) | (4) | (5) | |||||||||||||||||
| Preferred Stock Dividend reinvestment plan expenses (6) | None | None | None | |||||||||||||||||
| Total stockholder transaction expenses (as a percentage of offering price): | 11.5% | 4.5% | 6.0% | |||||||||||||||||
| Annual expenses (as a percentage of net assets attributable to common stock): | ||||||||||||||||||||
| Management fees (7) | 5.13% | |||||||||||||||||||
| Incentive fees payable under Investment Advisory Agreement (20% of realized capital gains and 20% of pre-incentive fee net investment income) (8) | 2.22% | |||||||||||||||||||
| Total advisory fees | 7.35% | |||||||||||||||||||
| Total interest expenses (9) | 5.91% | |||||||||||||||||||
| Other expenses (10) | 1.20% | |||||||||||||||||||
| Total annual expenses (8)(10)(11) | 14.46% | |||||||||||||||||||
| Dividends on Preferred Stock(12) | 3.95% | |||||||||||||||||||
| Total annual expenses after dividends on Preferred Stock (13) | 18.41% | |||||||||||||||||||
| 1 Year | 3 Years | 5 Years | 10 Years | |||||||||||||||||||||||
Ongoing Preferred Stock Offerings(1) - You would pay the following expenses on a $1,000 investment in shares of our common stock, assuming a 5% annual return on our portfolio* | $ | 218 | $ | 471 | $ | 671 | $ | 1,005 | ||||||||||||||||||
Ongoing Preferred Stock Offerings(1) - You would pay the following expenses on a $1,000 investment in shares of our common stock, assuming a 5% annual return on our portfolio** | $ | 227 | $ | 491 | $ | 695 | $ | 1,024 | ||||||||||||||||||
Exhibit No. | |||||
| 3.1 | |||||
| 3.2 | |||||
| 3.3 | |||||
| 3.4 | |||||
| 3.5 | |||||
| 3.6 | |||||
| 3.7 | |||||
| 3.8 | |||||
| 3.9 | |||||
| 3.10 | |||||
| 3.11 | |||||
| 3.12 | |||||
| 3.13 | |||||
| 3.14 | |||||
| 3.15 | |||||
| 3.16 | |||||
| 3.17 | |||||
| 4.1 | |||||
| 4.2 | |||||
| 4.3 | |||||
| 4.4 | |||||
| 4.5 | |||||
| 4.6 | |||||
| 4.7 | |||||
| 4.8 | |||||
| 4.9 | |||||
Exhibit No. | |||||
| 4.10 | |||||
| 4.11 | |||||
| 4.12 | |||||
| 4.13 | |||||
| 4.14 | |||||
| 4.15 | |||||
| 4.16 | |||||
| 4.17 | |||||
| 4.18 | |||||
| 4.19 | |||||
| 4.2 | |||||
| 4.21 | |||||
| 4.22 | |||||
| 4.23 | |||||
| 4.24 | |||||
| 4.25 | |||||
| 4.26 | |||||
| 4.27 | |||||
| 4.28 | |||||
| 4.29 | |||||
| 4.30 | |||||
| 4.31 | |||||
| 4.32 | |||||
| 4.33 | |||||
| 4.34 | |||||
| 4.35 | |||||
| 4.36 | |||||
| 11 | Computation of Per Share Earnings (included in the notes to the financial statements contained in this report) | ||||
| 12 | Computation of Ratios (included in the notes to the financial statements contained in this report) | ||||
| 31.1 | |||||
| 31.2 | |||||
Exhibit No. | |||||
| 32.1 | |||||
| 32.2 | |||||
| 101.INS | Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. | ||||
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document. | ||||
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document. | ||||
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document. | ||||
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document. | ||||
| 104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) | ||||
* | Filed herewith. | ||||
| (1) | |||||
| (2) | |||||
| (3) | |||||
| (4) | |||||
| (5) | |||||
| (6) | |||||
| (7) | |||||
| (8) | |||||
| (9) | |||||
| (10) | |||||
| (11) | |||||
| (12) | |||||
| (13) | |||||
| (14) | |||||
| (15) | |||||
| (16) | |||||
| (17) | |||||
| (18) | |||||
| (19) | |||||
| (20) | |||||
| (21) | |||||
| (22) | |||||
| (23) | |||||
| (24) | |||||
| (25) | |||||
| (26) | |||||
| (27) | |||||
| PROSPECT CAPITAL CORPORATION | |||||||||||
| May 8, 2024 | By: | /s/ JOHN F. BARRY III | |||||||||
| Date | John F. Barry III | ||||||||||
| Chairman of the Board and Chief Executive Officer | |||||||||||
| May 8, 2024 | By: | /s/ KRISTIN L. VAN DASK | |||||||||
| Date | Kristin L. Van Dask | ||||||||||
| Chief Financial Officer | |||||||||||
| Date: | May 8, 2024 | ||||
| /s/ JOHN F. BARRY III | |||||
| John F. Barry III | |||||
| Chairman of the Board and Chief Executive Officer | |||||
| Date: | May 8, 2024 | ||||
| /s/ KRISTIN L. VAN DASK | |||||
| Kristin L. Van Dask | |||||
| Chief Financial Officer | |||||
| Date: | May 8, 2024 | ||||
| /s/ JOHN F. BARRY III | |||||
| John F. Barry III | |||||
| Chairman of the Board and Chief Executive Officer | |||||
| Date: | May 8, 2024 | ||||
| /s/ KRISTIN L. VAN DASK | |||||
| Kristin L. Van Dask | |||||
| Chief Financial Officer | |||||