Company: GAINI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001321741-25-000022
Chunk: 23

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 $— Total Control Investments$17,409 $343 TOTAL INVESTMENTS – 196.2%(Q)$939,066 $979,320 CASH EQUIVALENTS - 0.3%Dreyfus Treasury Obligations Cash Management Fund (3.97% market yield)(R)1,354 $1,354 $1,354 Total Cash Equivalents$1,354 $1,354 TOTAL INVESTMENTS AND CASH EQUIVALENTS - 196.5%$940,420 $980,674 

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE CONSOLIDATED FINANCIAL STATEMENTS.14

Table of ContentsGLADSTONE INVESTMENT CORPORATIONCONSOLIDATED SCHEDULE OF INVESTMENTSMARCH 31, 2025(DOLLAR AMOUNTS IN THOUSANDS)

(A)Certain of the securities listed are issued by affiliate(s) of the indicated portfolio company. The majority of the securities listed, totaling $764.7 million at fair value, are pledged as collateral to our revolving line of credit, as described further in Note 5—Borrowings in the accompanying Notes to Consolidated Financial Statements. Additionally, under Section 55 of the 1940 Act, we may not acquire any non-qualifying assets unless, at the time such acquisition is made, qualifying assets represent at least 70% of our total assets. As of March 31, 2025, our investments in Pyrotek and Gladstone Alternative are considered non-qualifying assets under Section 55 of the 1940 Act. Such non-qualifying assets represent 3.6% of total investments, at fair value, as of March 31, 2025.

(B)Unless indicated otherwise, all cash interest rates are indexed to 30-day SOFR, which was 4.3% as of March 31, 2025. If applicable, paid-in-kind interest rates are noted separately from the cash interest rate. Certain securities are subject to an interest rate floor. The cash interest rate is the greater of the floor or reference rate plus a spread. Due dates represent the contractual maturity date.

(C)Security is non-income producing.

(D)Category percentages represent the fair value of each category and subcategory as a percentage of net assets as of March 31, 2025.

(E)Unless indicated otherwise, all of our investments are