
	Nine Months Ended
	December 31,
Per Share Data:	2025			2024
Investment income (1)	$	3.11		$	3.23
Operating expenses (1)	(1.30)			(1.27)
Income taxes (1)	(0.01)			(0.04)
Net investment income (1)	1.80			1.92
Net realized gain (loss), net of tax (1)	0.20			(0.47)
Net unrealized (depreciation) appreciation on investments, net of tax (1)	(0.43)			(0.31)
Realized loss on extinguishment of debt (1)	(0.04)			(0.01)
Total increase from investment operations	1.52			1.13
Accretive effect of share issuances and repurchases	0.47			0.64
Dividends to shareholders	(1.92)			(1.90)

Issuance of restricted stock (2)	(0.10)			(0.14)
Common stock withheld for payroll taxes upon vesting of restricted stock	(0.04)			(0.07)

Share based compensation expense	0.06			0.09


Other (3)	0.06			0.07
Increase (decrease) in net asset value	0.05			(0.18)
Net asset value
Beginning of period	16.70			16.77
End of period	$	16.75		$	16.59

Ratios and Supplemental Data
Ratio of operating expenses to average net assets (4)	10.30		%	10.09		%
Ratio of operating expenses (excluding interest expense) to average net assets (4)	3.34		%	3.41		%
Ratio of net investment income to average net assets (4)	14.24		%	15.17		%
Portfolio turnover	16.41		%	14.97		%
Total investment return (5)	7.92		%	(5.73)		%
Total return based on change in NAV (6)	11.80		%	10.26		%

Per share market value at the end of the period	$	22.15		$	21.82
Weighted-average basic shares outstanding	55,538			47,080
Weighted-average diluted shares outstanding	64,824			49,022
Common shares outstanding at end of period	59,457			50,051

(3)Includes the impact of the different share amounts as a result of calculating certain per share data based on the weighted-average basic shares outstanding during the period and certain per share data based on the shares outstanding as of a period end. The balance increases with the increase in variability of shares outstanding throughout the year due to share issuance and repurchase activity.

(5)Total investment return based on purchase of stock at the current market price on the first day and a sale at the current market price on the last day of each period reported on the table and assumes reinvestment of dividends at prices obtained by CSWC’s dividend reinvestment plan during the period. As such, the total investment return is not annualized. The return does not reflect any sales load that may be paid by an investor.