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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.
As of · the latest schedule of investments read for this BDC
- Fair value
- $2.5B
- Borrowers
- 244
- Mark on cost
- 95.7¢
- First lien
- 68%
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
As of · the latest schedule of investments read for this BDC
What matters now
- $53.1Mon 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••••••••• → - $4.7Mnewly 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.
- 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 - 249 → 244borrowers
Lost a net 5 borrowers in the quarter to Jun 30, 2026, to 244.
Q2 2026 · The book is turning over faster than usual.
Every headline figure, and the identifiersCIK 1383414 · file 814-00736ShowHide
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
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $2.8B | 244 | 96c | 18 | 547 bp |
| Mar 31, 2026 | $2.9B | 249 | 96c | 19 | 547 bp |
| Dec 31, 2025 | $2.9B | 244 | 96c | 16 | 556 bp |
| Sep 30, 2025 | $4.2B | 245 | 97c | 25 | 573 bp |
All 15 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $3.0B | 230 | 97c | 18 | 581 bp |
| Mar 31, 2025 | $11B | 239 | 98c | 18 | 575 bp |
| Dec 31, 2024 | $11B | 240 | 98c | 26 | 586 bp |
| Sep 30, 2024 | $14B | 236 | 98c | 52 | 594 bp |
| Jun 30, 2024 | $8.6B | 224 | 98c | 12 | 604 bp |
| Mar 31, 2024 | $9.0B | 215 | 99c | 8 | 612 bp |
| Dec 31, 2023 | $8.7B | 210 | 99c | 2 | 620 bp |
| Sep 30, 2023 | $11B | 205 | 99c | 6 | 618 bp |
| Jun 30, 2023 | $7.9B | 195 | 98c | 0 | 610 bp |
| Mar 31, 2023 | $8.1B | 195 | 98c | 0 | 601 bp |
| Sep 30, 2022 | $11B | 185 | 98c | 3 | 602 bp |
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
- Repeat sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
Full timeline · 20 eventsShow fewer
- New sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New sponsor and lender pairJun 30, 2026
Largest facilities held, with co-lenders
- S••••••••• D••••••••• notes1 BDC hold it · matures Apr 3, 2031$45.7M 101c
- P•••• C••••••••• L•• first lien term loan3 BDCs hold it · matures Oct 2, 2031$45.6M 99c
- H••••• • C•• L•• first lien term loan3 BDCs hold it · matures Aug 9, 2030$38.1M 101c
- S•••• D•••••• S••••••• L•• first lien term loan3 BDCs hold it · matures Dec 20, 2027$37.9M 99c
- A•• H••••••• L•••••• first lien term loan1 BDC hold it · matures Mar 15, 2027$36.5M 97c
- C••••••• A••••••••• L•• first lien term loan2 BDCs hold it · matures Jun 14, 2028$35.1M 101c
- I••••••• H••• S••••••• H•••••• I•• first lien term loan4 BDCs hold it · matures Dec 28, 2028 · possible sponsor F•••••• S••••• • C••$34.2M 101c
- E•••• I••••••••• I•• L•• first lien term loan2 BDCs hold it · matures Mar 15, 2027$33.2M 88c
- B••• P••• T••••••••• I•• first lien term loan3 BDCs hold it · matures Jul 2, 2029$30.0M 100c
- A•••••• L•• first lien term loan6 BDCs hold it · matures Sep 13, 2029$27.6M 100c
- C••••••••• F••• P••••••••• H•••••••• L•• first lien term loan2 BDCs hold it · matures Sep 23, 2030$27.3M 101c
- A•• A•••• B••••• L•• first lien term loan6 BDCs hold it · matures Oct 2, 2029$26.8M 99c
Schedule of investments at Mar 31, 2025
629 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| E•••• I••••••••• I•• L•• B••••••• S••••••s | revolver first lien | $1.9M | Not disclosed | S+635 bp | Mar 15, 2027 |
| E•••••••• C••• P•••••••• L•• H•••••••••, E•••••••• and C•••••••• | revolver first lien | $641,000 | Not disclosed | S+550 bp | Oct 18, 2027 |
| R•••••• P•••• P••• C••• a•• C••• E••••••••• • 4•••• O•• | unstated lien unstated | Not disclosed | Not disclosed | ||
| N••••••••• I••••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| E•••••••• C••• P•••••••• L•• H•••••••••, E•••••••• and C•••••••• | term loan first lien | $2.2M | Not disclosed | S+550 bp | Oct 19, 2026 |
| A••••• H•••••••• I••• M•••• | equity equity | Not disclosed | Not disclosed n/a | ||
| M•••••••• H•••••••• I••• B••••••• S••••••s | revolver first lien | $3.7M | Not disclosed | S+525 bp | Jan 16, 2030 |
| S•••• S•••••• T••••••••• S••••••••• L•• G••••••••• S••••••s | revolver first lien | $1.3M | Not disclosed | S+625 bp | Oct 31, 2030 |
| T•• B••••••• G•••• L•• B••••••• S••••••s | revolver first lien | $734,000 | Not disclosed | S+590 bp | Jul 28, 2026 |
| I••••••••• i• N••••••••• A••••••••• P•••••••• C•••••••• • 2• | unstated lien unstated | Not disclosed | Not disclosed | ||
| C••••••••• A••••••••• I••••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| R•••••• P•••• P••• I••••••••• a•• C••• E••••••••• • 1•••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| M••••••• E••••• • 1••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| T•• 3•• J••••• A••••••••• I••• M•••• | revolver first lien | $1.6M | Not disclosed | S+550 bp | Jan 23, 2029 |
| C••••• B••••• I••• H•••••••••, E•••••••• and C•••••••• | term loan first lien | $4.8M | Not disclosed | S+525 bp | Dec 3, 2029 |
| I••••• A•••••••• L•• B••••••• S••••••s | term loan first lien | $4.7M | Not disclosed | S+475 bp | Mar 21, 2027 |
| H••••• • C•• L•• Financial S••••••s | revolver first lien | $1.2M | Not disclosed | S+500 bp | Aug 9, 2030 |
| C•••• 1• S•••••••• I••• P•••••••, F••• and M••••••••• S••••••••• in N•••••••••, N••••••••• P•••••••• Companies - 148.3% F•••• L••• S•••••• D••• - 78.4% I••••• N••• C•••• 1• S•••••••• I••• - U••••••• R••••••• | revolver first lien | Not disclosed | Not disclosed | S+536 bp | |
| A•••• I••••••••• A••••••••• L•• T••••••••• | equity equity | Not disclosed | Not disclosed n/a | ||
| S•••• D•••••• S••••••• L•• T••••••••• | revolver first lien | $3.3M | Not disclosed | S+690 bp | Dec 20, 2027 |
| G•••• S••••••••• C•••••••• L•• • C•••• A•• B••••••• S••••••s | preferred equity equity | $1,000 | Not disclosed n/a | ||
| G•• M••••• L•• H••• and Office F•••••••••, H••••••••• and D•••••• C••••••• P••••••• | term loan first lien | $4.7M | Not disclosed | S+500 bp | Sep 27, 2026 |
| N••••••••• I••••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| E•• I••••••••• I•• L•• P•••••••, F••• and M••••••••• S••••••s | term loan first lien | Not disclosed | Not disclosed | S+650 bp | |
| S••••••••• G•••••• I••• B••••••• S••••••s 0.00% | revolver first lien | $8,000 | Not disclosed | S+860 bp | Jul 14, 2025 |
| A• G••••• M••••• S••• L•• P•••••••, F••• and M••••••••• S••••••s | revolver first lien | $2.5M | Not disclosed | S+450 bp | Dec 22, 2028 |
| M••••••• T•••• L• • C•••• A• A••• S••••• | equity equity | $1.5B | Not disclosed | ||
| I••••••••• i• N••••••••• N••••••••• P•••••••• C•••••••• • 1• | equity equity | Not disclosed | Not disclosed | ||
| R•••••• P•••• P••• I••••••••• 1•••••• | unstated lien unstated | Not disclosed | Not disclosed |
Page 7 of 7Previous
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