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A business development company

Business development companyListed: PFLT, PFLA· NEW YORK, NY

A business development company traded as Pflt, Pfla, holding $4.0B across 233 borrowers at Jun 30, 2026.

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

Fair value
$4.0B
Borrowers
233
Mark on cost
98.1¢
First lien
90%
Schedule of investments (726)Quarter by quarterSponsors
As of · the latest schedule of investments read for this BDC

What matters now

  1. $58.9M
    on non-accrual, 4 borrowers

    4 borrowers on non-accrual, $58.9M principal; the largest is Kinetic Purchaser, LLC ($37M).

    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 Kinetic Purchaser, LLC →
  2. $5.58M
    newly on non-accrual

    1 borrower newly placed on non-accrual in Q2 2026, $5.58M principal: Five Star Buyer, Inc ($5.58M).

    Q2 2026 · The newest credit problems in the book.

    FactBDC schedules of investments, 30 Jun 2026Open Five Star Buyer, Inc →
  3. 21 below 80¢
    $119M principal

    21 positions across 11 borrowers marked below 80¢ on cost, $119M 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. 241 → 233
    borrowers

    Lost a net 8 borrowers in the quarter to Jun 30, 2026, to 233.

    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 1504619 · file 814-00891Show
Fair value
$4.0B
as of Jun 30, 2026
Principal held
$4.1B
debt pieces, the filer's figure
Cost
$4.1B
98c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
726
233 borrowers
First lien
90%
93% debt by fair value
Quarters on the tape
15
since Sep 30, 2022
Facilities held
412
7 sponsors financed
Portfolio through time
Fair value by quarter end$4.0B as of Jun 30, 2026
Sep 30, 2022$17B then
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2026$4.0B23398c8540 bp
Mar 31, 2026$4.1B24199c10544 bp
Dec 31, 2025$3.8B23699c10549 bp
Sep 30, 2025$6.8B24599c25561 bp
All 18 quarters
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2025$3.5B23997c23569 bp
Mar 31, 2025$15B23497c21573 bp
Dec 31, 2024$14B24098c28583 bp
Sep 30, 2024$20B24198c80597 bp
Jun 30, 2024$11B21298c22608 bp
Mar 31, 2024$11B20699c20611 bp
Dec 31, 2023$10B25199c7618 bp
Dec 15, 2023Not disclosed2n/a0620 bp
Sep 30, 2023$15B24397c18613 bp
Jun 30, 2023$7.5B19697c4606 bp
Mar 31, 2023$9.1B19597c6592 bp
Dec 31, 2022Not disclosed1n/a0n/a
Sep 30, 2022$17B19797c9581 bp
Jun 30, 2022Not disclosed0n/a0n/a
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
  • Repeat sponsor and lender pairJun 30, 2026
  • Repeat sponsor and lender pairJun 30, 2026
  • New sponsor and lender pairJun 30, 2026

+15 additional dated changes on this BDC

Includes 3 days of DFX Intelligence. Then $249/month unless canceled.

Every position change, including routine ones
Largest facilities held, with co-lenders

+409 additional facilities held

Includes 3 days of DFX Intelligence. Then $249/month unless canceled.

Schedule of investments at Sep 30, 2022
903 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
Related Party PSSL Equity Securities - 0.3%unstated lien unstatedNot disclosedNot disclosed
Douglas Products and Packaging Company LLCrevolver first lienNot disclosedNot disclosedS+475 bpOct 19, 2022
AG Investco LP
Software Two
equity equityNot disclosedNot disclosed
Research Now Group, Inc. and Dynata, LLC
Business Services
term loan first lienNot disclosedNot disclosedS+576 bpDec 20, 2024
Members Equity—100.0%unstated lien unstatedNot disclosedNot disclosed

903 positions on this schedule

Every borrower on the schedule with its instrument, principal, fair value, rate and maturity, as filed.

Includes 3 days of DFX Intelligence. Then $249/month unless canceled.

Registration
Fiscal year end
0930reported
Incorporated
unknownreported
On the SEC BDC report
2012 to 2026reported
Filings listed
19reported10-Q and 10-K since 2022
Latest schedule
0001193125-26-342352reported
Capital chain

This record sits on 41 traced paths of capital across the graphs.

Sponsor to borrower to facility to lenderPE sponsor to borrower to facility to lender

DFX traced 41 paths of capital through this record

Every record on each path, what it committed or lent, and as of when.

Includes 3 days of DFX Intelligence. Then $249/month unless canceled.

Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.

Checking your plan…

Position history

3,202 field-level changes across filed schedules, latest first

Each line is one position compared between two consecutive BDC schedules of investments: principal, fair value mark, spread, PIK and maturity, as filed with the SEC.

›Connections

every published relationship on the graph
Show 1 connection across 1 kind
Manages (1)