PROSPECT CAPITAL CORP [PSEC] Filings

10-Q 1 psec10-qq32022.htm 10-Q Document

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q


ý			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2022
OR
o			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number: 814-00659

PROSPECT CAPITAL CORPORATION

(Exact name of registrant as specified in its charter)


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

Securities registered pursuant to Section 12(b) of the Act:


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

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ý No o

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes o No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.


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)

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes o No ý

As of May 6, 2022, there were 392,150,844 shares of the registrant’s common stock, $0.001 par value per share, outstanding.

Table of Contents


		Page
	Forward-Looking Statements	3
PART I	FINANCIAL INFORMATION
Item 1.	Financial Statements
	Consolidated Statements of Assets and Liabilities as of March 31, 2022 (unaudited) and June 30, 2021	4
	Consolidated Statements of Operations for the three and nine months ended March 31, 2022 and March 31, 2021 (unaudited)	5
	Consolidated Statements of Changes in Net Assets for the three and nine months ended March 31, 2022 and March 31, 2021 (unaudited)	6
	Consolidated Statements of Cash Flows for the nine months ended March 31, 2022 and March 31, 2021 (unaudited)	8
	Consolidated Schedules of Investments as of March 31, 2022 (unaudited) and June 30, 2021	9
	Notes to Consolidated Financial Statements (unaudited)	45
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	114
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	149
Item 4.	Controls and Procedures	151
PART II	OTHER INFORMATION
Item 1.	Legal Proceedings	152
Item 1A.	Risk Factors	152
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	156
Item 3.	Defaults Upon Senior Securities	156
Item 4.	Mine Safety Disclosures	156
Item 5.	Other Information	157
Item 6.	Exhibits	161
	Signatures

FORWARD-LOOKING STATEMENTS

This report contains information that may constitute “forward-looking statements.” Generally, the words “believe,” “expect,”

“intend,” “estimate,” “anticipate,” “project,” “will,” “should,” “could,” “may,” “plan” and similar expressions identify forward-looking statements, which generally are not historical in nature. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to volume growth, share of sales and earnings per share growth, and statements expressing general views about future operating results—are forward-looking statements. Management believes that these forward-looking statements are reasonable as and when made. However, caution should be taken not to place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described in Part II, “Item 1A. Risk Factors” and elsewhere in this report and in our Annual Report on Form 10-K for the year ended June 30, 2021, and those described from time to time in reports that we have filed or in the future may file with the Securities and Exchange Commission.

The forward-looking statements contained in this report involve a number of risks and uncertainties, including statements concerning:

•our future operating results;

•our business prospects and the prospects of our portfolio companies;

•the impact of investments that we expect to make;

•our contractual arrangements and relationships with third parties;

•the dependence of our future success on the general economy and its impact on the industries in which we invest;

•the impact of global health epidemics, including, but not limited to, the recent and ongoing novel coronavirus pandemic, on our and our portfolio companies’ business and the global economy;

•uncertainty surrounding the financial stability of the United States, Europe, and China;

•the ability of our portfolio companies to achieve their objectives;

•difficulty in obtaining financing or raising capital, especially in the current credit and equity environment, and the impact of a protracted decline in the liquidity of credit markets on our and our portfolio companies’ business;

•the level and volatility of prevailing interest rates and credit spreads, magnified by the current turmoil in the credit markets;

•the impact of changes in the London Interbank Offered Rate (“LIBOR”), the cessation of publication of certain LIBOR rates as of March 31, 2022 and in the future and the new use of the Secured Overnight Financing Rate (“SOFR”) on our operating results;

•adverse developments in the availability of desirable loan and investment opportunities whether they are due to competition, regulation or otherwise;

•a compression of the yield on our investments and the cost of our liabilities, as well as the level of leverage available to us;

•our regulatory structure and tax treatment, including our ability to operate as a business development company and a regulated investment company;

•the adequacy of our cash resources and working capital;

•the timing of cash flows, if any, from the operations of our portfolio companies;

•the ability of our investment adviser to locate suitable investments for us and to monitor and administer our investments;

•authoritative generally accepted accounting principles or policy changes from such standard-setting bodies as the Financial Accounting Standards Board, the Securities and Exchange Commission, Internal Revenue Service, the NASDAQ Global Select Market, the New York Stock Exchange LLC, and other authorities that we are subject to, as well as their counterparts in any foreign jurisdictions where we might do business; and

•any of the other risks, uncertainties and other factors we identify herein or in our Annual Report on Form 10-K for the year ended June 30, 2021.

PART I

Item 1. Financial Statements

PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES

(in thousands, except share and per share data)


	March 31, 2022		June 30, 2021

	(Unaudited)		(Audited)
Assets
Investments at fair value:
Control investments (amortized cost of $2,588,661 and $2,482,431, respectively)	$	3,378,505	$	2,919,717
Affiliate investments (amortized cost of $237,845 and $202,943, respectively)	417,652		356,734
Non-control/non-affiliate investments (amortized cost of $4,061,431 and $3,372,750, respectively)	3,633,774		2,925,327
Total investments at fair value (amortized cost of $6,887,937 and $6,058,124, respectively)	7,429,931		6,201,778
Cash	36,402		63,610
Receivables for:
Interest, net	12,969		12,575
Other	525		365
Deferred financing costs on Revolving Credit Facility (Note 4)	11,504		11,141
Due from broker	4,055		12,551
Prepaid expenses	299		1,072

Total Assets	7,495,685		6,303,092
Liabilities
Revolving Credit Facility (Notes 4 and 8)	699,440		356,937
Public Notes (less unamortized discount and debt issuance costs of $23,601 and $20,061, respectively) (Notes 6 and 8)	1,341,858		1,114,717
Prospect Capital InterNotes® (less unamortized debt issuance costs of $7,196 and $10,496, respectively) (Notes 7 and 8)	333,578		498,215
Convertible Notes (less unamortized debt issuance costs of $2,794 and $4,123, respectively) (Notes 5 and 8)	213,875		263,100
Due to Prospect Capital Management (Note 13)	56,399		48,612
Dividends payable	23,529		23,313
Interest payable	19,501		27,359
Due to broker	—		14,854
Accrued expenses	3,417		5,151
Due to Prospect Administration (Note 13)	2,855		4,835

Other liabilities	338		482
Total Liabilities	2,694,790		2,357,575
Commitments and Contingencies (Note 3)
Preferred Stock, par value $0.001 per share (167,900,000 shares authorized, with 40,000,000 shares of preferred stock authorized for each of the Series A1, Series M1, and Series M2 and 20,000,000 shares of preferred stock authorized for each of the Series AA1 and Series MM1 and 1,000,000 shares of preferred stock authorized for the Series A2 and 6,900,000 shares of preferred stock authorized for the Series A; 16,394,214 Series A1 shares issued and outstanding; 1,380,203 Series M1 shares issued and outstanding; 0 Series M2 shares issued and outstanding; 0 Series AA1 shares issued and outstanding; 0 Series MM1 shares issued and outstanding; 187,000 Series A2 shares issued and outstanding; and 6,000,000 Series A shares issued and outstanding as of March 31, 2022) at carrying value plus cumulative accrued and unpaid dividends (Note 9)	564,884		—
Net Assets as of June 30, 2021	$	—	$	3,945,517
Net Assets Applicable to Common Shares as of March 31, 2022	$	4,236,011	$	—
Components of Net Assets Applicable to Common Shares and Net Assets, respectively
Preferred Stock, par value $0.001 per share (141,000,000 shares authorized, with 40,000,000 shares of preferred stock authorized for each of the Series A1, Series M1, and Series M2 and 20,000,000 shares of preferred stock authorized for the Series AA1 and 1,000,000 shares of preferred stock authorized for the Series A2; 5,163,926 Series A1 shares issued and outstanding; 130,666 Series M1 shares issued and outstanding; 0 Series M2 shares issued and outstanding; 0 Series AA1 shares issued and outstanding; and 187,000 Series A2 shares issued and outstanding as of June 30, 2021) (Note 9)	$	—	137,040
Common stock, par value $0.001 per share (1,832,100,000 common shares authorized; 391,718,136 and 388,419,573 issued and outstanding, respectively) (Note 9)	392		388
Paid-in capital in excess of par (Note 9 and 12)	4,039,944		4,018,659
Total distributable earnings (loss) (Note 12)	195,675		(210,570)
Net Assets as of June 30, 2021	$	—	$	3,945,517
Net Assets Applicable to Common Shares as of March 31, 2022	$	4,236,011	$	—
Net Asset Value Per Common Share (Note 16)	$	10.81	$	9.81

See notes to consolidated financial statements.

PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except share and per share data)

(Unaudited)


	Three Months Ended March 31,				Nine Months Ended March 31,
	2022		2021		2022		2021
Investment Income
Interest income:
Control investments	$	53,095	$	52,056	$	166,036	$	151,416
Affiliate investments	6,745		6,145		23,497		24,333
Non-control/non-affiliate investments	65,037		52,846		182,698		156,125
Structured credit securities	17,612		28,536		58,702		84,735
Total interest income	142,489		139,583		430,933		416,609
Dividend income:
Control investments	5,197		1,384		12,134		3,645
Affiliate investments	95		—		95		—
Non-control/non-affiliate investments	14		18		48		62
Total dividend income	5,306		1,402		12,277		3,707
Other income:
Control investments	26,571		15,877		55,306		45,493
Affiliate investments	19		38		3,961		102
Non-control/non-affiliate investments	7,046		2,556		23,804		8,717
Total other income (Note 10)	33,636		18,471		83,071		54,312
Total Investment Income	181,431		159,456		526,281		474,628
Operating Expenses
Base management fee (Note 13)	36,426		29,183		102,472		83,866
Income incentive fee (Note 13)	19,967		18,251		59,296		53,354
Interest and credit facility expenses	29,235		32,773		86,952		100,549
Allocation of overhead from Prospect Administration (Note 13)	4,126		2,685		10,891		10,768
Audit, compliance and tax related fees	994		989		1,940		2,267
Directors’ fees	131		113		360		339

Other general and administrative expenses	3,547		2,060		10,439		10,977
Total Operating Expenses	94,426		86,054		272,350		262,120
Net Investment Income	87,005		73,402		253,931		212,508
Net Realized and Net Change in Unrealized Gains (Losses) from Investments
Net realized gains (losses)
Control investments	5,298		121		5,304		2,953
Affiliate investments	—		745		—		4,469
Non-control/non-affiliate investments	(7,552)		15		(17,386)		29
Net realized (losses) gains	(2,254)		881		(12,082)		7,451
Net change in unrealized gains
Control investments	96,162		142,379		352,558		323,967
Affiliate investments	(11,610)		21,876		26,016		107,582
Non-control/non-affiliate investments	(4,066)		20,705		19,766		87,028
Net change in unrealized gains	80,486		184,960		398,340		518,577
Net Realized and Net Change in Unrealized Gains from Investments	78,232		185,841		386,258		526,028
Net realized (losses) on extinguishment of debt	(941)		(12,835)		(10,149)		(18,415)
Net Increase in Net Assets Resulting from Operations	164,296		246,408		630,040		720,121
Preferred stock dividends	7,139		400		16,748		446
Net Increase in Net Assets Resulting from Operations applicable to Common Stockholders	$	157,157	$	246,008	$	613,292	$	719,675
Basic and diluted earnings per common share (Note 11)
Basic	$	0.40	$	0.64	$	1.57	$	1.89
Diluted	$	0.38	$	0.63	$	1.50	$	1.88
Weighted-average shares of common stock outstanding (Note 11)
Basic	391,091,485		385,996,921		389,981,608		380,985,329
Diluted	432,808,120		389,420,855		419,914,712		382,259,257

See notes to consolidated financial statements.

PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS

(in thousands, except share data)

(Unaudited)


	Common Stock
For the Three Months Ended March 31, 2022	Shares	Par		Paid-in-capital in excess of par(1)		Distributable Earnings (Loss)(1)		Total Net Asset Applicable to Common Shares
Balance as of December 31, 2021(1)	390,584,255	$391		$	4,030,760	$	108,977	$	4,140,128
Net Increase in Net Assets resulting from Operations:
Net investment income						87,005		87,005
Net realized losses						(3,195)		(3,195)
Net change in unrealized gains						80,486		80,486
Distributions to Shareholders
Distributions from earnings						(77,578)		(77,578)

Capital Transactions


Shares issued through reinvestment of dividends	1,120,220	1		9,049				9,050
Conversion of preferred stock to common stock	13,661	—		115				115
Tax reclassifications of net assets (Note 12)				20		(20)		—
Total increase for the three months ended March 31, 2022	1,133,881	1		9,184		86,698		95,883
Balance as of March 31, 2022	391,718,136	$	392	$	4,039,944	$	195,675	$	4,236,011


	Preferred Stock		Common Stock
For the Three Months Ended March 31, 2021	Liquidation Value		Shares	Par		Paid-in capital in excess of par(1)		Distributable earnings (loss)(1)		Total Net Assets
Balance as of December 31, 2020	$	13,786	384,097,645	$384		$	4,023,978	$	(581,628)	$	3,456,520
Net Increase in Net Assets resulting from Operations:
Net investment income								73,402		73,402
Net realized losses								(11,954)		(11,954)
Net change in unrealized gains								184,960		184,960
Distributions to Shareholders(1)
Distributions from earnings								(58,979)		(58,979)
Return of capital to common stockholders(Note 12)						(11,024)				(11,024)
Capital Transactions
Issuance of preferred stock	53,185					(5,579)				47,606
Shares issued through reinvestment of dividends	9		3,292,927	3		21,297				21,309
Conversion of preferred stock to common stock	(80)		9,982	—		80				—

Total increase for the three months ended March 31, 2021	53,114		3,302,909	3		4,774		187,429		245,320
Balance as of March 31, 2021(1)	$	66,900	387,400,554	$	387	$	4,028,752	$	(394,199)	$	3,701,840

(1) Certain reclassifications have been made in the presentation of prior year and prior quarter amounts to conform to the presentation for the current fiscal year. See Note 2 and Note 12 within the accompanying notes to consolidated financial statements for further discussion.

See notes to consolidated financial statements.

PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)

(in thousands, except share data)

(Unaudited)


	Preferred Stock		Common Stock
Nine Months Ended March 31, 2022	Liquidation Value		Shares	Par		Paid-in capital in excess of par(1)		Distributable earnings (loss)(1)		Total Net Assets
Balance as of June 30, 2021(1)	$	137,040	388,419,573	$388		$	4,018,659	$	(210,570)	$	3,945,517
Net Increase in Net Assets Resulting from Operations:
Net investment income								253,931		253,931
Net realized losses								(22,231)		(22,231)
Net change in unrealized gains								398,340		398,340
Distributions to Shareholders(1)
Distributions from earnings								(223,775)		(223,775)
Return of capital to common stockholders (Note 12)						(3,695)				(3,695)
Capital Transactions
Issuance of preferred stock	7,866					(13,239)				(5,373)
Reclassification of preferred stock issuance costs to temporary equity(3)						11,970				11,970
Shares issued through reinvestment of dividends	8		3,268,814	4		25,970				25,982
Conversion of preferred stock to common stock			29,749			259				259
Reclassification of preferred stock to temporary equity(2)	(144,914)									(144,914)
Tax reclassifications of net assets (Note 12)						20		(20)		—
Total (decrease) increase for the nine months ended March 31, 2022	(137,040)		3,298,563	4		21,285		406,245		290,494
Balance as of March 31, 2022	$	—	391,718,136	$	392	$	4,039,944	$	195,675	$	4,236,011


	Preferred Stock		Common Stock
Nine Months Ended March 31, 2021	Liquidation Value		Shares	Par		Paid-in capital in excess of par(1)		Distributable earnings (loss)(1)		Total Net Assets
Balance as of June 30, 2020	$	—	373,538,499	$	374	$	3,986,417	$	(930,930)	$	3,055,861
Net Increase in Net Assets Resulting from Operations:
Net investment income								212,508		212,508
Net realized losses								(10,964)		(10,964)
Net change in unrealized gains								518,577		518,577
Distributions to Shareholders(1)
Distributions from earnings								(183,447)		(183,447)
Return of capital to common stockholders(Note 12)						(23,287)				(23,287)
Capital Transactions
Issuance of Preferred Stock	66,971					(7,610)				59,361
Shares issued through reinvestment of dividends	9		13,852,073	13		73,209				73,231
Conversion of preferred stock to common stock	(80)		9,982			80				—
Tax reclassifications of net assets (Note 12)						(57)		57		—
Total increase for the nine months ended March 31, 2021	66,900		13,862,055	13		42,335		536,731		645,979
Balance as of March 31, 2021(1)	$	66,900	387,400,554	$	387	$	4,028,752	$	(394,199)	$	3,701,840

(2) Preferred Stock issued prior to our 5.35% Series A Preferred Stock issuance reclassified to temporary equity. Refer to Note 9 within the accompanying notes to the consolidated financial statements for further discussion.

(3) Preferred stock issuance costs include offering costs and underwriting costs related to the issuance of preferred stock. During the nine months ended March 31, 2022, we have reclassified all preferred stock issuance costs related to preferred stock issued as temporary equity following our reclassification of preferred stock during the three months ended September 30, 2021. Refer to Note 9 within the accompanying notes to the consolidated financial statements for further discussion.

See notes to consolidated financial statements.

PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands, except share data)

(Unaudited)


	Nine Months Ended March 31,
	2022		2021
Operating Activities
Net increase in net assets resulting from operations	$	630,040	$	720,121
Net realized losses on extinguishment of debt	10,149		18,415
Net realized losses (gains) on investments	12,082		(7,451)
Net change in unrealized (gains) on investments	(398,340)		(518,577)
Amortization of discounts (accretion of premiums), net	62,435		(17,163)
Accretion of original issue discount	2,063		903
Amortization of deferred financing costs	6,242		5,527
Payment-in-kind interest	(61,030)		(58,750)
Structuring fees	(16,437)		(20,620)
Change in operating assets and liabilities:
Payments for purchases of investments	(1,767,402)		(701,768)
Proceeds from sale of investments and collection of investment principal	940,539		673,329
(Decrease) increase in due to broker	(14,854)		48,668
Increase in due to Prospect Capital Management	7,787		4,960
Increase in interest receivable, net	(394)		(1,892)
Decrease in interest payable	(7,858)		(12,335)

Decrease in accrued expenses	(1,734)		(217)
Decrease in due from broker	8,496		1,524

Decrease in other liabilities	(144)		(1,252)
Increase in other receivables	(160)		(179)
Increase in due from Prospect Administration	—		(38)

Decrease in prepaid expenses	773		1,053
Decrease in due to Prospect Administration	(1,980)		(3,255)
Net Cash (Used in) Provided by Operating Activities	(589,727)		131,003
Financing Activities
Borrowings under Revolving Credit Facility (Note 4)	1,627,051		668,000
Principal payments under Revolving Credit Facility (Note 4)	(1,284,548)		(561,999)
Issuances of Public Notes, net of original issue discount (Note 6)	294,798		395,781
Redemptions of Public Notes (Note 6)	(69,319)		(290,419)
Redemptions of Convertible Notes, net (Note 5)	(51,872)		(199,626)

Issuances of Prospect Capital InterNotes® (Note 7)	155,909		109,562
Redemptions of Prospect Capital InterNotes®, net (Note 7)	(323,846)		(116,511)
Financing costs paid and deferred	(11,206)		(6,053)



Proceeds from issuance of preferred stock, net of underwriting costs	429,433		61,823
Offering costs from issuance of preferred stock	(4,184)		(2,462)
Dividends paid and distributions to stockholders	(199,697)		(132,671)
Net Cash Provided by (Used in) Financing Activities	562,519		(74,575)
Net (Decrease) Increase in Cash	(27,208)		56,428
Cash at beginning of period	63,610		44,561
Cash at End of Period	$	36,402	$	100,989
Supplemental Disclosures
Cash paid for interest	$	86,505	$	106,454

Non-Cash Financing Activities
Value of shares issued through reinvestment of dividends	$	26,083	$	73,222

See notes to consolidated financial statements.

PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED SCHEDULES OF INVESTMENTS AS OF MARCH 31, 2022 (Unaudited)

(in thousands, except share data)


							March 31, 2022 (Unaudited)
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	12.01% (3ML+ 11.00%)	1.00	1/31/2024	$45,322	$45,322	$45,322	1.1%	(10)(39)
		First Lien Term Loan A to Spartan Energy Services, LLC	10/20/2014	9.00% (1ML+ 8.00%)	1.00	12/31/2022	26,258	26,258	26,258	0.6%	(10)(39)
		Series A Preferred Units to Spartan Energy Holdings, Inc. (10,000 shares)	9/25/2020		—	N/A	—	26,193	26,193	0.6%	(16)
		Series B Convertible Preferred Stock (790 shares)	10/30/2015		—	N/A	—	63,225	20,688	0.5%	(16)
		Common Stock (102,924 shares)	8/2/2013		—	N/A	—	86,240	—	—%	(16)
								247,238	118,461	2.8%
Credit Central Loan Company, LLC (21)	Consumer Finance	First Lien Term Loan	12/28/2012	10.00% plus 10.00% PIK	—	6/30/2025	74,702	72,602	74,702	1.9%	(14)(39)
		Class A Units (14,867,312 units)	12/28/2012		—	N/A	—	19,331	11,454	0.3%	(14)(16)
		Net Revenues Interest (25% of Net Revenues)	1/28/2015		—	N/A	—	—	—	—%	(14)(16)
								91,933	86,156	2.2%
Echelon Transportation, LLC	Aerospace & Defense	First Lien Term Loan	3/31/2014	6.00% (1ML+ 4.00%)	2.00	3/31/2024	53,209	53,209	53,209	1.3%	(10)(39)
		Preferred Units (32,842,586 shares)	1/31/2022		—	N/A	—	32,843	14,750	0.3%	(16)
		Membership Interest (100%)	3/31/2014		—	N/A	—	22,738	—	—%	(16)
								108,790	67,959	1.6%
First Tower Finance Company LLC (23)	Consumer Finance	First Lien Term Loan to First Tower, LLC	6/24/2014	10.00% plus 12.00% PIK	—	2/18/2025	348,484	348,484	348,484	8.3%	(14)(39)
		Class A Units (95,709,910 units)	6/14/2012		—	N/A	—	31,146	296,672	7.0%	(14)(16)
								379,630	645,156	15.3%
Freedom Marine Solutions, LLC (24)	Energy Equipment & Services	Membership Interest (100%)	11/9/2006		—	N/A	—	44,492	11,938	0.3%	(16)
								44,492	11,938	0.3%
InterDent, Inc.	Health Care Providers & Services	First Lien Term Loan A/B	8/1/2018	16.65% (1ML+ 14.65%)	2.00	9/5/2025	14,249	14,249	14,249	0.3%	(10)
		First Lien Term Loan A	8/3/2012	6.50% (1ML+ 5.50%)	1.00	9/5/2025	96,773	96,773	96,773	2.3%	(3)(10)
		First Lien Term Loan B	8/3/2012	12.00% PIK	—	9/5/2025	157,644	157,644	157,644	3.8%	(39)
		Common Stock (99,900 shares)	5/3/2019		—	N/A	—	45,118	141,091	3.3%	(16)
								313,784	409,757	9.7%
Kickapoo Ranch Pet Resort	Diversified Consumer Services	Membership Interest (100%)	8/26/2019		—	N/A	—	2,378	3,833	0.1%	(16)
								2,378	3,833	0.1%
MITY, Inc. (25)	Commercial Services & Supplies	First Lien Term Loan A	9/19/2013	10.00% (3ML+ 7.00%)	3.00	4/30/2025	31,944	31,944	31,944	0.8%	(10)(39)
		First Lien Term Loan B	6/23/2014	10.00% (3ML+ 7.00%) plus 10.00% PIK	3.00	4/30/2025	18,404	18,404	18,404	0.4%	(10)(39)
		Unsecured Note to Broda Enterprises ULC	9/19/2013	10.00%	—	1/1/2028	5,719	7,200	5,719	0.1%	(14)
		Common Stock (42,053 shares)	9/19/2013		—	N/A	—	27,349	4,428	0.1%	(16)
								84,897	60,495	1.4%

See notes to consolidated financial statements.

PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED SCHEDULES OF INVESTMENTS AS OF MARCH 31, 2022 (Unaudited)

(in thousands, except share data)


							March 31, 2022 (Unaudited)
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	4.44% (3ML+ 1.44%) plus 3.53% PIK	3.00	12/31/2023	$378,861	$378,861	$378,861	8.9%	(10)(39)
		First Lien Term Loan B	12/31/2018	5.00% (3ML+ 2.00%) plus 5.50% PIK	3.00	12/31/2023	29,080	29,080	29,080	0.7%	(10)(39)
		First Lien Term Loan C	10/31/2019	11.01% (3ML+ 10.00%) plus 2.25% PIK	1.00	12/31/2023	140,800	140,800	140,800	3.3%	(10)(39)
		First Lien Term Loan D	6/19/2020	3.50% (3ML+ 0.50%) plus 2.50% PIK	3.00	12/31/2023	183,425	183,425	183,425	4.3%	(10)(39)
		Residual Profit Interest	12/31/2018		—	N/A	—	—	63,193	1.5%	(35)
		Common Stock (3,318,230 shares)	12/31/2013		—	N/A	—	11,830	733,217	17.4%	(16)(45)
								743,996	1,528,576	36.1%
Nationwide Loan Company LLC (27)	Consumer Finance	First Lien Term Loan	6/18/2014	10.00% plus 10.00% PIK	—	6/18/2022	20,260	20,260	20,260	0.5%	(14)(39)
		Class A Units (38,550,460 units)	1/31/2013		—	N/A	—	20,846	30,054	0.7%	(14)
								41,106	50,314	1.2%
NMMB, Inc. (28)	Media	First Lien Term Loan	12/30/2019	10.50% (3ML+ 8.50%)	2.00	3/31/2027	29,760	29,760	29,760	0.7%	(3)(10)
		Common Stock (21,418 shares)	12/30/2019		—	N/A	—	—	50,508	1.1%
								29,760	80,268	1.8%
Pacific World Corporation (36)	Personal Products	First Lien Revolving Line of Credit - $26,000 Commitment	9/26/2014	8.25% (1ML+ 7.25%)	1.00	9/26/2025	26,174	26,174	26,174	0.6%	(10)(15)(39)
		First Lien Term Loan A	12/31/2014	6.25% PIK (1ML+ 5.25%)	1.00	9/26/2025	43,639	43,639	30,613	0.7%	(10)(39)
		Convertible Preferred Equity (318,038 shares)	6/15/2018		—	N/A	—	189,295	—	—%	(16)
		Common Stock (6,778,414 shares)	9/29/2017		—	N/A	—	—	—	—%	(16)
								259,108	56,787	1.3%
R-V Industries, Inc.	Machinery	First Lien Term Loan	12/15/2020	10.01% (3ML+ 9.00%)	1.00	12/15/2028	33,622	33,622	33,622	0.8%	(3)(10)
		Common Stock (745,107 shares)	6/26/2007		—	N/A	—	6,866	25,133	0.6%
								40,488	58,755	1.4%
Universal Turbine Parts, LLC (34)	Trading Companies & Distributors	First Lien Delayed Draw Term Loan - $6,965 Commitment	2/28/2019	10.25% (1ML+ 7.75%)	2.50	4/5/2024	3,149	3,149	3,149	0.1%	(10)(15)
		First Lien Term Loan A	7/22/2016	6.76% (3ML+ 5.75%)	1.00	4/5/2024	29,575	29,575	22,618	0.5%	(10)
		Preferred Units (47,244,213 units)	3/31/2021		—	N/A	—	32,500	—	—%	(16)
		Common Stock (10,000 units)	12/10/2018		—	N/A	—	—	—	—%	(16)
								65,224	25,767	0.6%
USES Corp. (30)	Commercial Services & Supplies	First Lien Term Loan A	3/31/2014	9.00% PIK	—	7/29/2024	59,010	30,651	23,916	0.6%	(9)
		First Lien Term Loan B	3/31/2014	15.50% PIK	—	7/29/2024	87,118	35,568	—	—%	(9)
		First Lien Term Loan	12/30/2020	10.00% (1ML+ 9.00%)	1.00	7/29/2024	2,000	2,000	2,000	—%	(10)
		Common Stock (268,962 shares)	6/15/2016		—	N/A	—	—	—	—%	(16)
								68,219	25,916	0.6%
Valley Electric Company, Inc. (31)	Construction & Engineering	First Lien Term Loan to Valley Electric Co. of Mt. Vernon, Inc.	12/31/2012	8.00% (3ML+ 5.00%) plus 2.50% PIK	3.00	12/31/2024	10,452	10,452	10,452	0.2%	(3)(10)(39)
		First Lien Term Loan	6/24/2014	8.00% plus 10.00% PIK	—	6/23/2024	33,301	33,301	33,301	0.8%	(39)
		First Lien Term Loan B	3/28/2022	8.00% plus 4.50% PIK	—	6/23/2024	13,000	13,000	13,000	0.3%
		Consolidated Revenue Interest (2.00%)	6/22/2018		—	N/A	—	—	1,984	—%	(12)
		Common Stock (50,000 shares)	12/31/2012		—	N/A	—	10,865	89,630	2.1%
								67,618	148,367	3.4%
Total Control Investments (Level 3)								$2,588,661	$3,378,505	79.8%

See notes to consolidated financial statements.

PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED SCHEDULES OF INVESTMENTS AS OF MARCH 31, 2022 (Unaudited)

(in thousands, except share data)


							March 31, 2022 (Unaudited)
Portfolio Company	Industry	Investments(1)(37)	Acquisition Date(44)	Coupon/Yield	Floor	Legal Maturity	Principal Value		Amortized Cost		Fair Value(2)		% of Net Assets

Affiliate Investments (5.00% to 24.99% voting control)(41)

Nixon, Inc. (32)	Textiles, Apparel & Luxury Goods	Common Stock (857 units)	5/12/2017		—	N/A	$	—	$	—	$	—	—	%	(16)
									—		—		—	%
PGX Holdings, Inc. (6)	Diversified Consumer Services	First Lien Term Loan	7/21/2021	9.25% (1ML+ 7.75%)	1.50	7/21/2026	67,126		67,126		67,126		1.6	%	(3)(8)(10)
		Second Lien Term Loan	7/21/2021	13.25% (1ML+ 11.75%)	1.50	7/27/2027	153,931		153,931		153,931		3.6	%	(3)(10)
		Common Stock (40,780,359 shares)	5/27/2020		—	N/A	—		—		141,123		3.3	%	(16)
									221,057		362,180		8.5	%
RGIS Services, LLC	Commercial Services & Supplies	First Lien Term Loan	6/25/2020	8.50% (1ML+ 7.50%)	1.00	6/25/2025	3,680		3,680		3,680		0.1	%	(8)(10)
		Membership Interest (5.11%)	6/25/2020		—	N/A	—		10,303		15,256		0.4	%
									13,983		18,936		0.5	%
Targus Cayman HoldCo Limited (33)	Textiles, Apparel & Luxury Goods	Common Stock (7,383,395 shares)	2/12/2016		—	N/A	—		2,805		36,536		0.9	%	(16)
									2,805		36,536		0.9	%
Total Affiliate Investments (Level 3)									$	237,845	$	417,652	9.9	%

See notes to consolidated financial statements.

PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED SCHEDULES OF INVESTMENTS AS OF MARCH 31, 2022 (Unaudited)

(in thousands, except share data)


							March 31, 2022 (Unaudited)
Portfolio Company	Industry	Investments(1)(37)	Acquisition Date(44)	Coupon/Yield	Floor	Legal Maturity	Principal Value		Amortized Cost		Fair Value(2)		% of Net Assets

Non-Control/Non-Affiliate Investments (less than 5.00% voting control)

8th Avenue Food & Provisions, Inc.	Food Products	Second Lien Term Loan	9/21/2018	8.21% (1ML+ 7.75%)	—	10/1/2026	$	32,133	$	31,956	$	29,168	0.7	%	(3)(8)(10)
									31,956		29,168		0.7	%
ABG Intermediate Holdings 2 LLC	Textiles, Apparel & Luxury Goods	Second Lien Term Loan	12/20/2021	6.80% (3M SOFR+ 6.00%)	0.80	12/20/2029	9,000		8,935		8,955		0.2	%	(3)(8)(10)
									8,935		8,955		0.2	%
AmeriLife Holdings, LLC	Insurance	Second Lien Term Loan	3/18/2020	9.50% (1ML+ 8.50%)	1.00	3/18/2028	22,280		21,952		22,280		0.5	%	(3)(8)(10)
									21,952		22,280		0.5	%
Apidos CLO XI	Structured Finance	Subordinated Structured Note	12/6/2012	Residual Interest, current yield 9.31%	—	4/17/2034	67,782		37,180		29,680		0.7	%	(5)(14)
									37,180		29,680		0.7	%
Apidos CLO XII	Structured Finance	Subordinated Structured Note	3/15/2013	Residual Interest, current yield 4.16%	—	4/15/2031	52,203		34,646		29,278		0.7	%	(5)(14)
									34,646		29,278		0.7	%
Apidos CLO XV	Structured Finance	Subordinated Structured Note	9/13/2013	Residual Interest, current yield 5.58%	—	4/21/2031	48,515		35,857		28,659		0.7	%	(5)(14)
									35,857		28,659		0.7	%
Apidos CLO XXII	Structured Finance	Subordinated Structured Note	9/16/2015	Residual Interest, current yield 8.26%	—	4/21/2031	35,855		29,084		25,474		0.6	%	(5)(14)
									29,084		25,474		0.6	%
Atlantis Health Care Group (Puerto Rico), Inc.	Health Care Providers & Services	First Lien Revolving Line of Credit - $3,000 Commitment	2/21/2013	10.75% (3ML+ 8.75%)	2.00	4/29/2022	—		—		—		—	%	(10)(15)
		First Lien Term Loan	2/21/2013	10.75% (3ML+ 8.75%)	2.00	4/29/2022	65,552		65,552		65,552		1.5	%	(3)(10)
									65,552		65,552		1.5	%
Barings CLO 2018-III	Structured Finance	Subordinated Structured Note	10/9/2014	Residual Interest, current yield 0.00%	—	7/20/2029	83,097		38,122		28,903		0.7	%	(5)(14)(17)
									38,122		28,903		0.7	%
BCPE North Star US Holdco 2, Inc.	Food Products	Second Lien Delayed Draw Term Loan - $5,185 Commitment	6/7/2021	8.26% (3ML+ 7.25%)	0.75	6/10/2023	—		—		—		—	%	(8)(10)(15)
		Second Lien Term Loan	6/7/2021	8.26% (3ML+ 7.25%)	0.75	6/11/2029	94,815		94,084		94,815		2.2	%	(3)(8)(10)
									94,084		94,815		2.2	%
BCPE Osprey Buyer, Inc.	Health Care Technology	First Lien Revolving Line of Credit - $4,239 Commitment	10/18/2021	6.50% (3ML+ 5.75%)	0.75	8/21/2026	—		—		—		—	%	(8)(10)(15)
		Second Lien Delayed Draw Term Loan - $22,609 Commitment	10/18/2021	6.50% (3ML+ 5.75%)	0.75	8/23/2028	—		—		—		—	%	(8)(10)(15)
		First Lien Term Loan	10/18/2021	6.50% (3ML+ 5.75%)	0.75	8/23/2028	64,838		64,838		64,838		1.5	%	(8)(10)
									64,838		64,838		1.5	%
Belnick, LLC	Household Durables	First Lien Term Loan	1/20/2022	9.50% (1ML+ 8.50%)	1,000	1/20/2027	86,953		86,953		86,953		2.1	%	(3)(10)
									86,953		86,953		2.1	%
Broder Bros., Co.	Textiles, Apparel & Luxury Goods	First Lien Term Loan	12/4/2017	7.39% (6ML+ 6.00%)	1.00	12/4/2025	177,568		177,568		177,568		4.2	%	(3)(10)
									177,568		177,568		4.2	%
California Street CLO IX Ltd.	Structured Finance	Subordinated Structured Note	4/19/2012	Residual Interest, current yield 9.99%	—	7/16/2032	58,914		42,597		30,057		0.7	%	(5)(14)
									42,597		30,057		0.7	%
Candle-Lite Company, LLC	Household Products	First Lien Term Loan A	1/23/2018	6.75% (3ML+ 5.50%)	1.25	4/30/2023	10,050		10,050		10,050		0.2	%	(3)(10)
		First Lien Term Loan B	1/23/2018	10.75% (3ML+ 9.50%)	1.25	4/30/2023	10,949		10,949		10,949		0.3	%	(3)(10)
									20,999		20,999		0.5	%
Capstone Logistics Acquisition, Inc.	Commercial Services & Supplies	Second Lien Delayed Draw Term Loan - $1,500 Commitment	11/12/2020	9.75% (1ML+ 8.75%)	1.00	11/13/2028	—		—		—		—	%	(8)(10)(15)
		Second Lien Term Loan	11/12/2020	9.75% (1ML+ 8.75%)	1.00	11/13/2028	8,500		8,236		8,500		0.2	%	(3)(8)(10)
									8,236		8,500		0.2	%

See notes to consolidated financial statements.

PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED SCHEDULES OF INVESTMENTS AS OF MARCH 31, 2022 (Unaudited)

(in thousands, except share data)


							March 31, 2022 (Unaudited)
Portfolio Company	Industry	Investments(1)(37)	Acquisition Date(44)	Coupon/Yield	Floor	Legal Maturity	Principal Value		Amortized Cost		Fair Value(2)		% of Net Assets

Non-Control/Non-Affiliate Investments (less than 5.00% voting control)

Carlyle C17 CLO Limited	Structured Finance	Subordinated Structured Note	1/24/2013	Residual Interest, current yield 12.01%	—	4/30/2031	$	24,870	$	15,058	$	13,292	0.3	%	(5)(14)
									15,058		13,292		0.3	%
Carlyle Global Market Strategies CLO 2014-4-R, Ltd.	Structured Finance	Subordinated Structured Note	4/7/2017	Residual Interest, current yield 10.27%	—	7/15/2030	25,534		18,717		16,221		0.4	%	(5)(14)
									18,717		16,221		0.4	%
Carlyle Global Market Strategies CLO 2016-3, Ltd.	Structured Finance	Subordinated Structured Note	8/9/2016	Residual Interest, current yield 9.97%	—	7/20/2034	32,199		29,881		27,294		0.6	%	(5)(14)
									29,881		27,294		0.6	%
Cent CLO 21 Limited	Structured Finance	Subordinated Structured Note	5/15/2014	Residual Interest, current yield 2.34%	—	7/29/2030	49,552		35,843		29,459		0.7	%	(5)(14)
									35,843		29,459		0.7	%
CIFC Funding 2013-III-R, Ltd.	Structured Finance	Subordinated Structured Note	8/2/2013	Residual Interest, current yield 9.58%	—	4/24/2031	44,100		27,283		20,672		0.5	%	(5)(14)
									27,283		20,672		0.5	%
CIFC Funding 2013-IV, Ltd.	Structured Finance	Subordinated Structured Note	10/22/2013	Residual Interest, current yield 13.00%	—	4/28/2031	45,500		31,329		29,094		0.7	%	(5)(14)
									31,329		29,094		0.7	%
CIFC Funding 2014-IV-R, Ltd.	Structured Finance	Subordinated Structured Note	8/5/2014	Residual Interest, current yield 13.51%	—	10/17/2030	50,143		31,694		27,132		0.6	%	(5)(14)
									31,694		27,132		0.6	%
CIFC Funding 2016-I, Ltd.	Structured Finance	Subordinated Structured Note	12/9/2016	Residual Interest, current yield 13.24%	—	10/21/2031	34,000		30,545		29,553		0.7	%	(5)(14)
									30,545		29,553		0.7	%
Collections Acquisition Company, Inc.	Diversified Financial Services	First Lien Term Loan	12/3/2019	10.65% (1ML+ 8.15%)	2.50	6/3/2024	36,971		36,971		36,971		0.9	%	(3)(10)
									36,971		36,971		0.9	%
Columbia Cent CLO 27 Limited	Structured Finance	Subordinated Structured Note	12/18/2013	Residual Interest, current yield 13.82%	—	10/25/2028	48,977		29,577		28,059		0.7	%	(5)(14)
									29,577		28,059		0.7	%
CP IRIS Holdco I, Inc. (49)	Building Products	Second Lien Term Loan	10/1/2021	7.50% (1ML+ 7.00%)	0.50	10/1/2029	35,000		35,000		35,000		0.8	%	(3)(8)(10)
									35,000		35,000		0.8	%
Curo Group Holdings Corp.	Consumer Finance	First Lien Term Loan	7/30/2021	7.50%	—	8/1/2028	47,000		47,030		41,128		1.0	%	(8)(14)(47)
									47,030		41,128		1.0	%
DRI Holding Inc.	Commercial Services & Supplies	First Lien Term Loan	12/21/2021	5.75% (1ML+ 5.25%)	0.50	12/21/2028	20,000		20,000		20,000		0.5	%	(3)(8)(10)
		Second Lien Term Loan	12/21/2021	8.50% (1ML+ 8.00%)	0.50	12/21/2029	135,000		135,000		135,000		3.2	%	(10)
									155,000		155,000		3.7	%
Dunn Paper, Inc.	Paper & Forest Products	Second Lien Term Loan	8/26/2016	10.26% (3ML+ 9.25%)	1.00	8/26/2023	11,500		11,454		9,457		0.2	%	(8)(10)
									11,454		9,457		0.2	%
Easy Gardener Products, Inc.	Household Durables	Class A Units of EZG Holdings, LLC (200 units)	6/11/2020		—	N/A	—		313		781		—	%	(16)
		Class B Units of EZG Holdings, LLC (12,525 units)	6/11/2020		—	N/A	—		1,688		3,269		0.1	%	(16)
									2,001		4,050		0.1	%
Engine Group, Inc. (7)	Media	First Lien Term Loan	11/17/2020	5.75% (1ML+ 4.75%)	1.00	11/17/2023	3,556		3,556		3,433		0.1	%	(8)(10)
		Class B Common Units (1,039,554 units)	11/17/2020		—	N/A	—		26,991		294		—	%	(8)(16)
									30,547		3,727		0.1	%
Engineered Machinery Holdings, Inc.	Machinery	Incremental Amendment No. 2 Second Lien Term Loan	5/6/2021	7.51% (3ML+ 6.50%)	0.75	7/18/2025	5,000		4,980		5,000		0.1	%	(3)(8)(10)
		Incremental Amendment No. 3 Second Lien Term Loan	8/6/2021	7.01% (3ML+ 6.00%)	0.75	5/21/2029	5,000		5,000		5,000		0.1	%	(3)(8)(10)
									9,980		10,000		0.2	%

See notes to consolidated financial statements.

PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED SCHEDULES OF INVESTMENTS AS OF MARCH 31, 2022 (Unaudited)

(in thousands, except share data)


							March 31, 2022 (Unaudited)
Portfolio Company	Industry	Investments(1)(37)	Acquisition Date(44)	Coupon/Yield	Floor	Legal Maturity	Principal Value		Amortized Cost		Fair Value(2)		% of Net Assets

Non-Control/Non-Affiliate Investments (less than 5.00% voting control)

Enseo Acquisition, Inc.	IT Services	First Lien Term Loan	6/2/2021	9.01% (3ML+ 8.00%)	1.00	6/2/2026	$	54,588	$	54,588	$	54,588	1.3	%	(3)(10)
									54,588		54,588		1.3	%
EXC Holdings III Corp	Technology Hardware, Storage & Peripherals	Second Lien Term Loan	11/17/2017	8.50% (3ML+ 7.50%)	1.00	12/1/2025	12,500		12,443		12,500		0.3	%	(3)(8)(10)
									12,443		12,500		0.3	%
Eze Castle Integration, Inc. (f/k/a/ H.I.G. ECI Merger Sub, Inc.)	IT Services	First Lien Delayed Draw Term Loan - $1,786 Commitment	7/15/2020	10.00% (1ML+ 8.50%)	1.50	7/15/2025	—		—		—		—	%	(10)(15)
		First Lien Term Loan	7/15/2020	10.00% (1ML+ 8.50%)	1.50	7/15/2025	46,861		46,861		46,861		1.1	%	(3)(10)
									46,861		46,861		1.1	%
First Brands Group	Auto Components	First Lien Term Loan	3/24/2021	6.00% (3ML+ 5.00%)	1.00	3/30/2027	16,583		16,474		16,474		0.4	%	(3)(8)(10)
		Second Lien Term Loan	3/24/2021	9.50% (3ML+ 8.50%)	1.00	3/30/2028	32,000		31,523		31,523		0.7	%	(3)(8)(10)
									47,997		47,997		1.1	%
Galaxy XV CLO, Ltd.	Structured Finance	Subordinated Structured Note	2/13/2013	Residual Interest, current yield 11.91%	—	10/15/2030	50,525		34,529		27,387		0.6	%	(5)(14)
									34,529		27,387		0.6	%
Galaxy XXVII CLO, Ltd.	Structured Finance	Subordinated Structured Note	9/30/2013	Residual Interest, current yield 10.43%	—	5/16/2031	24,575		16,183		12,109		0.3	%	(5)(14)
									16,183		12,109		0.3	%
Galaxy XXVIII CLO, Ltd.	Structured Finance	Subordinated Structured Note	5/30/2014	Residual Interest, current yield 8.11%	—	7/15/2031	39,905		27,797		17,669		0.4	%	(5)(14)
									27,797		17,669		0.4	%
Global Tel*Link Corporation	Diversified Telecommunication Services	First Lien Term Loan	8/7/2019	4.71% (1ML+ 4.25%)	—	11/29/2025	9,723		9,483		9,596		0.2	%	(3)(8)(10)
		Second Lien Term Loan	11/20/2018	10.41% (1M SOFR+ 10.00%)	—	11/29/2026	122,670		121,694		122,474		2.9	%	(3)(8)(10)
									131,177		132,070		3.1	%
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		11		—	%	(5)(14)(17)
									3,704		11		—	%
Halcyon Loan Advisors Funding 2013-1 Ltd.	Structured Finance	Subordinated Structured Note	3/8/2013	Residual Interest, current yield 0.00%	—	4/15/2025	40,400		19,984		28		—	%	(5)(14)(17)
									19,984		28		—	%
Halcyon Loan Advisors Funding 2014-1 Ltd.	Structured Finance	Subordinated Structured Note	2/7/2014	Residual Interest, current yield 0.00%	—	4/20/2026	24,500		11,822		52		—	%	(5)(14)(17)
									11,822		52		—	%
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		73		—	%	(5)(14)(17)
									21,322		73		—	%
Halcyon Loan Advisors Funding 2015-3 Ltd.	Structured Finance	Subordinated Structured Note	7/23/2015	Residual Interest, current yield 0.00%	—	10/18/2027	39,598		29,557		406		—	%	(5)(14)(17)
									29,557		406		—	%
HarbourView CLO VII-R, Ltd.	Structured Finance	Subordinated Structured Note	6/5/2015	Residual Interest, current yield 0.00%	—	7/18/2031	19,025		13,024		5,593		0.1	%	(5)(14)(17)
									13,024		5,593		0.1	%
Help/Systems Holdings, Inc.	Software	Second Lien Term Loan	11/14/2019	7.50% (3ML+ 6.75%)	0.75	11/19/2027	52,500		52,281		52,500		1.2	%	(3)(8)(10)
									52,281		52,500		1.2	%
Interventional Management Services, LLC	Health Care Providers & Services	First Lien Revolving Line of Credit - $5,000 Commitment	2/22/2021	9.51% (3ML+ 8.50%)	1.00	2/22/2025	5,000		5,000		4,986		0.1	%	(10)(15)
		First Lien Term Loan	2/22/2021	9.51% (3ML+ 8.50%)	1.00	2/20/2026	69,090		69,090		68,891		1.6

PROSPECT CAPITAL CORP [PSEC] Filings

PROSPECT CAPITAL CORP [PSEC-PA] Filings