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P••••••••• I••••••••• C•••

Business development companymanaged by P••••••••• I••••••••• A•••••••• L••Listed: PNNT· NEW YORK, NY

A business development company traded as PNNT, managed by P••••••••• I••••••••• A•••••••• L••, holding $2.5B across 244 borrowers at Jun 30, 2026.

Composed from this BDC's filings and its latest schedule of investments.

Fair value
$2.5B
Schedule of investments, 10-Q and 10-K
Borrowers
244
Schedule of investments, 10-Q and 10-K
Mark on cost
95.7¢
Schedule of investments, 10-Q and 10-K
First lien
68%
Schedule of investments, 10-Q and 10-K
Schedule of investments (616)Quarter by quarterSponsors
As of · the latest schedule of investments read for this BDC

What matters now

  1. $53.1M
    on non-accrual, 4 borrowers

    4 borrowers on non-accrual, $53.1M principal; the largest is S•• D••••••••• ($25.9M).

    Q2 2026 · Loans that have stopped paying interest; they set the book's credit losses.

    FactBDC schedules of investments, 30 Jun 2026For LPs and shareholders in these BDCs, co-lenders on the same namesOpen S•• D••••••••• →
  2. $4.7M
    newly on non-accrual

    1 borrower newly placed on non-accrual in Q2 2026, $4.7M principal: F••• S••• B••••• I•• ($4.7M).

    Q2 2026 · The newest credit problems in the book.

    FactBDC schedules of investments, 30 Jun 2026Open F••• S••• B••••• I•• →
  3. 12 below 80¢
    $56.3M principal

    12 positions across 6 borrowers marked below 80¢ on cost, $56.3M principal.

    Q2 2026 · Marks this low usually come before non-accrual or a restructuring.

    Derivedeach position's fair value over cost, 30 Jun 2026
  4. 249 → 244
    borrowers

    Lost a net 5 borrowers in the quarter to Jun 30, 2026, to 244.

    Q2 2026 · The book is turning over faster than usual.

    Factthe schedule's borrowers, quarter on quarterSchedule of investments →
Every headline figure, and the identifiersCIK 1383414 · file 814-00736Show
Fair value
$2.5B
as of Jun 30, 2026
Principal held
$2.1B
debt pieces, the filer's figure
Cost
$2.5B
96c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
616
244 borrowers
First lien
68%
80% debt by fair value
Quarters on the tape
15
since Sep 30, 2022
Facilities held
421
24 sponsors financed
Portfolio through time
Fair value by quarter end$2.8B as of Jun 30, 2026
Sep 30, 2022$11B then
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2026$2.8B24496c18547 bp
Mar 31, 2026$2.9B24996c19547 bp
Dec 31, 2025$2.9B24496c16556 bp
Sep 30, 2025$4.2B24597c25573 bp
All 15 quarters
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2025$3.0B23097c18581 bp
Mar 31, 2025$11B23998c18575 bp
Dec 31, 2024$11B24098c26586 bp
Sep 30, 2024$14B23698c52594 bp
Jun 30, 2024$8.6B22498c12604 bp
Mar 31, 2024$9.0B21599c8612 bp
Dec 31, 2023$8.7B21099c2620 bp
Sep 30, 2023$11B20599c6618 bp
Jun 30, 2023$7.9B19598c0610 bp
Mar 31, 2023$8.1B19598c0601 bp
Sep 30, 2022$11B18598c3602 bp
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
Full timeline · 20 events
Every position change, including routine ones
Largest facilities held, with co-lenders
Schedule of investments at Dec 31, 2023
505 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
I••••••••• i• N••••••••• A••••••••• P•••••••• C••••••••• C••warrants equityNot disclosedNot disclosed
n/a
L••••••••• i• E••••• o• O•••• A••••• • •••••••unstated lien unstatedNot disclosedNot disclosed
I••••••••• i• C••••••••• A••••••••• P•••••••• C••••••••equity equityNot disclosedNot disclosed
E•• I••••••••• I•• L••revolver first lien$1.7MNot disclosedS+650 bpMay 25, 2029
W•• I••••••• Q• C• F•••••• L• • U•••••••
H•••••••••, E•••••••• and C••••••••
equity equity$285MNot disclosed
Page 6 of 6Previous
Registration
Fiscal year end
0930reported
Incorporated
unknownreported
On the SEC BDC report
2012 to 2026reported
Filings listed
19reported10-Q and 10-K since 2022
Former names
Pennant Investment CORPreported
Latest schedule
0001193125-26-342350reported