Company: GAINI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001321741-25-000022
Chunk: 161

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 161
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2025.The following table summarizes our investments by security type as of September 30, 2025 and March 31, 2025:September 30, 2025March 31, 2025CostFair ValueCostFair ValueSecured first lien debt$644,158 62.1 %$593,979 52.5 %$584,026 62.2 %$514,334 52.5 %Secured second lien debt93,340 9.0 %90,633 8.0 %103,956 11.1 %103,580 10.6 %Total debt737,498 71.1 %684,612 60.5 %687,982 73.3 %617,914 63.1 %Preferred equity250,105 24.1 %365,278 32.3 %201,487 21.5 %302,163 30.9 %Common equity/equivalents49,597 4.8 %80,969 7.2 %49,597 5.2 %59,243 6.0 %Total equity/equivalents299,702 28.9 %446,247 39.5 %251,084 26.7 %361,406 36.9 %Total investments$1,037,200 100.0 %$1,130,859 100.0 %$939,066 100.0 %$979,320 100.0 %

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Investments at fair value consisted of the following industry classifications as of September 30, 2025 and March 31, 2025:September 30, 2025March 31, 2025Fair ValuePercentage ofTotal InvestmentsFair ValuePercentage of Total InvestmentsDiversified/Conglomerate Services$189,018 16.7%$170,360 17.4%Aerospace and Defense172,193 15.2%107,869 10.9%Home and Office Furnishings, Housewares, and Durable Consumer Products152,666 13.6%159,236 16.3%Machinery (Non-Agriculture, Non-Construction, and Non-Electronic)130,538 11.6%105,432 10.8%Leisure,