DFX Intelligence
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P••••••••• F••••••• R••• C•••••• L•••
Business development companymanaged by P••••••••• I••••••••• A•••••••• L••Listed: PFLT, PFLA· NEW YORK, NY
A business development company traded as Pflt, Pfla, managed by P••••••••• I••••••••• A•••••••• L••, holding $4.0B across 233 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
- $4.0B
- Borrowers
- 233
- Mark on cost
- 98.1¢
- First lien
- 90%
As of · the latest schedule of investments read for this BDC
What matters now
- $58.9Mon non-accrual, 4 borrowers
4 borrowers on non-accrual, $58.9M principal; the largest is K•••••• P••••••••• L•• ($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 K•••••• P••••••••• L•• → - $5.58Mnewly on non-accrual
1 borrower newly placed on non-accrual in Q2 2026, $5.58M principal: F••• S••• B••••• I•• ($5.58M).
Q2 2026 · The newest credit problems in the book.
- 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 - 241 → 233borrowers
Lost a net 8 borrowers in the quarter to Jun 30, 2026, to 233.
Q2 2026 · The book is turning over faster than usual.
Every headline figure, and the identifiersCIK 1504619 · file 814-00891ShowHide
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
22 sponsors financed
Portfolio through time
Fair value by quarter end$4.0B as of Jun 30, 2026
Sep 30, 2022$17B then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $4.0B | 233 | 98c | 8 | 540 bp |
| Mar 31, 2026 | $4.1B | 241 | 99c | 10 | 544 bp |
| Dec 31, 2025 | $3.8B | 236 | 99c | 10 | 549 bp |
| Sep 30, 2025 | $6.8B | 245 | 99c | 25 | 561 bp |
All 18 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $3.5B | 239 | 97c | 23 | 569 bp |
| Mar 31, 2025 | $15B | 234 | 97c | 21 | 573 bp |
| Dec 31, 2024 | $14B | 240 | 98c | 28 | 583 bp |
| Sep 30, 2024 | $20B | 241 | 98c | 80 | 597 bp |
| Jun 30, 2024 | $11B | 212 | 98c | 22 | 608 bp |
| Mar 31, 2024 | $11B | 206 | 99c | 20 | 611 bp |
| Dec 31, 2023 | $10B | 251 | 99c | 7 | 618 bp |
| Dec 15, 2023 | Not disclosed | 2 | n/a | 0 | 620 bp |
| Sep 30, 2023 | $15B | 243 | 97c | 18 | 613 bp |
| Jun 30, 2023 | $7.5B | 196 | 97c | 4 | 606 bp |
| Mar 31, 2023 | $9.1B | 195 | 97c | 6 | 592 bp |
| Dec 31, 2022 | Not disclosed | 1 | n/a | 0 | n/a |
| Sep 30, 2022 | $17B | 197 | 97c | 9 | 581 bp |
| Jun 30, 2022 | Not disclosed | 0 | n/a | 0 | n/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
Full timeline · 20 eventsShow fewer
- New borrower on a BDC scheduleJun 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
- 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
- Repeat sponsor and lender pairJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
Largest facilities held, with co-lenders
- H••••• • C•• L•• first lien term loan3 BDCs hold it · matures Aug 9, 2030$111M 101c
- L••••• T•• I••••••••• I•• I•• first lien term loan3 BDCs hold it · matures May 31, 2028 · possible sponsor G•••• C••••••$84.8M 100c
- B••••• B••••••••• S•••••• S•••••••• L•• first lien term loan2 BDCs hold it · matures Jun 21, 2029$71.4M 101c
- C••••••••• F••• P••••••••• H•••••••• L•• first lien term loan2 BDCs hold it · matures Sep 23, 2030$71.1M 101c
- A•••••• L•• first lien term loan6 BDCs hold it · matures Sep 13, 2029$69.7M 100c
- B••• P••••••• A••••••••• L•• first lien term loan3 BDCs hold it · matures Nov 8, 2029$69.3M 100c
- A•• A•••• B••••• L•• first lien term loan6 BDCs hold it · matures Oct 2, 2029$67.5M 98c
- S•••• S•••••• T••••••••• S••••••••• L•• first lien term loan3 BDCs hold it · matures Oct 31, 2030$65.2M 101c
- S•••••• P••••••• A•• A•••••••• I•• first lien term loan2 BDCs hold it · matures Aug 16, 2027 · possible sponsor A•••••••• C•••••• P•••••••$62.5M 100c
- H•••••• G•••• T•••• B••••• L•• first lien term loan2 BDCs hold it · matures Mar 2, 2032$60.3M 100c
- T•• B••••••• G•••• L•• first lien term loan3 BDCs hold it · matures Jun 14, 2032 · possible sponsor B•••••• C•••••• M••••••••• L••$60.0M 100c
- n• R••• S••••••••• L•• first lien term loan2 BDCs hold it · matures Aug 29, 2031$58.8M 99c
Schedule of investments at Mar 31, 2026
731 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| W••••••••• B••••• L•• E••••••••• E••••••••, I•••••••••, and C••••••••• | revolver first lien | $4.4M | -$44,000 | S+600 bp | Dec 3, 2029 |
| I••••• I••••••••• S•••••• I••••••••• S••••••• | revolver first lien | $3.0M | -$45,000 | S+425 bp | Dec 17, 2030 |
| R••• S••••••••• H•••••••• L•• L•••••• P••••••• | revolver first lien | $3.1M | -$46,000 | S+575 bp | May 3, 2029 |
| F•••• M•••••• M••• L•• H••••••••• P•••••••• and S••••••s | term loan first lien | $4.7M | -$47,000 | S+575 bp | Jun 13, 2027 |
| L••• O•••• L•• P••••••• P••••••• | revolver first lien | $2.8M | -$48,000 | S+510 bp PIK 5.10% | Aug 16, 2026 |
| O•••• E••••••• S••••••••• L•• D••••••••• C••••••• S••••••s | term loan first lien | $5.5M | -$48,000 | 0.00% | Sep 30, 2026 |
| B•••••••• I••••••••• D••••••••• I••• D••••••••• | revolver first lien | $1.6M | -$50,000 | S+540 bp | Sep 17, 2026 |
| O•••• E••••••• S••••••••• L•• D••••••••• C••••••• S••••••s | revolver first lien | $3.1M | -$54,000 | S+550 bp | Dec 31, 2029 |
| B• L•••• P••••••••• I• S•••••••• L•• H••• T••• I••••••••• | revolver first lien | $3.7M | -$55,000 | S+550 bp | Jul 15, 2031 |
| E•••••• W••• A••••••••• C••••••• L•• A••••••••• | revolver first lien | $2.1M | -$59,000 | S+625 bp | Apr 10, 2031 |
| S••• H•••• D•••••• U•• L•• B••••••• P••••••• | revolver first lien | $2.7M | -$60,000 | S+450 bp | May 23, 2029 |
| R•••• S••••••• H•••••••• I••• P••••••••• S••••••s | revolver first lien | $373,000 | -$62,000 | S+575 bp | Jun 15, 2029 |
| T•••• A••• I•••••••• M••••• L• M•••• | equity equity | Not disclosed | -$65,000 | ||
| M••••••• A••••••••• I••• E••••••••• E••••••••, I•••••••••, and C••••••••• | revolver first lien | $3.3M | -$65,000 | S+550 bp | Mar 1, 2030 |
| N•• G••••• L•• H••••••••• E•••••••• and S••••••• | revolver first lien | $1.7M | -$84,000 | S+585 bp | Aug 19, 2026 |
| S••••••• S•••••• P••••••• N•• L•• D••••••••• C••••••• S••••••s | term loan first lien | $4.1M | -$87,000 | S+525 bp | Dec 21, 2026 |
| P•••• C••••••••• L•• A••••••••• | term loan first lien | $24.1M | -$90,000 | S+475 bp | Oct 3, 2027 |
| P•• E••••••••• H•••••••• I••• H••••••••• T••••••••• | revolver first lien | $4.7M | -$94,000 | S+500 bp | Sep 3, 2030 |
| A••••••• L•• ••••• T••• M••••• L••• D••••••••• C••••••• S••••••s | term loan first lien | $13.5M | -$101,000 | S+575 bp | Nov 26, 2027 |
| N••• A••••••••• L•• H••••••••• P•••••••• and S••••••s | revolver first lien | $3.0M | -$128,000 | S+635 bp | Aug 31, 2029 |
| B••• P••••••• A••••••••• L•• A•••••••• and D•••••• | revolver first lien | $5.7M | -$129,000 | S+675 bp | Nov 8, 2029 |
| A••••• L••••• L•• H••••••••• T••••••••• | term loan first lien | $13.3M | -$133,000 | S+575 bp | Aug 28, 2026 |
| I••• P••••••• V• C• L• I••••••• S••••••• and S••••••s | equity equity | Not disclosed | -$143,000 | ||
| A• I••••••• S••••••• | equity equity | Not disclosed | -$189,000 | ||
| A•• A•••• B••••• L•• IT S••••••s | revolver first lien | $7.6M | -$190,000 | S+500 bp | Oct 2, 2029 |
| R•• C••••••••• L•• D••••••••• C••••••• S••••••s | term loan first lien | $7.1M | -$214,000 | S+525 bp | Aug 17, 2026 |
| A•• A•••• B••••• L•• IT S••••••s | term loan first lien | $10.9M | -$217,000 | S+500 bp | Apr 21, 2027 |
| R•• C••••••••• L•• D••••••••• C••••••• S••••••s | revolver first lien | $5.8M | -$231,000 | S+525 bp | Aug 15, 2029 |
| K•••••• P••••••••• L•• P••••••• P••••••• | revolver first lien | $1.3M | -$571,000 | 0.00% | Nov 10, 2026 |
| A••••• A••••••••• C••• I• C••••••••• and P•••••••• | revolver first lien | Not disclosed | Not disclosed | S+500 bp | Dec 29, 2030 |
| A••••• A••••••••• C••• I• C••••••••• and P•••••••• | term loan first lien | Not disclosed | Not disclosed | S+500 bp | Jan 14, 2031 |
Page 8 of 8Previous
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
- P••••••••• Senior F••••••• R••• Fund Inc.reported
- Latest schedule
- 0001193125-26-342352reported
Capital chain
P••••••••• F••••••• R••• C•••••• L••• sits on 121 traced paths of capital across the graphs.
Sponsor to borrower to facility to lenderPE sponsor to borrower to facility to lender
Every record on each path, what it committed or lent, and as of when. The capital chain is a join across the graphs and opens with the Data Factory.
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
- New positionM•••••• G•••• B••••• L••2026-06-30
- 2026-06-30
- 2026-06-30
- 2026-06-30
- 2026-06-30
- 2026-06-30
- 2026-06-30
- 2026-06-30
- 2026-06-30
- 2026-06-30
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 kindShow fewer
Manages (1)
- Nov 24, 2025 to presentfactBDC schedule of investments