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P••••• S••••• C•••••• B•• I•••

Business development companymanaged by P••••• S••••• B•• A•••••• L••Listed: PSBD· MISSION WOODS, KS

A business development company traded as PSBD, managed by P••••• S••••• B•• A•••••• L••, holding $1.1B across 205 borrowers at Jun 30, 2026.

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

Fair value
$1.1B
Schedule of investments, 10-Q and 10-K
Borrowers
205
Schedule of investments, 10-Q and 10-K
Mark on cost
89.4¢
Schedule of investments, 10-Q and 10-K
First lien
87%
Schedule of investments, 10-Q and 10-K
Schedule of investments (319)Quarter by quarterSponsors
As of · the latest schedule of investments read for this BDC

What matters now

  1. $19.7M
    on non-accrual, 2 borrowers

    2 borrowers on non-accrual, $19.7M principal; the largest is F•••• B••••• G••••• L•• ($12.8M).

    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 F•••• B••••• G••••• L•• →
  2. $6.95M
    newly on non-accrual

    1 borrower newly placed on non-accrual in Q2 2026, $6.95M principal: A•••••••• H•••••••• L•• ($6.95M).

    Q2 2026 · The newest credit problems in the book.

    FactBDC schedules of investments, 30 Jun 2026Open A•••••••• H•••••••• L•• →
  3. 48 below 80¢
    $228M principal

    48 positions across 30 borrowers marked below 80¢ on cost, $228M 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. 213 → 205
    borrowers

    Lost a net 8 borrowers in the quarter to Jun 30, 2026, to 205.

    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 1794776 · file 814-01334Show
Fair value
$1.1B
as of Jun 30, 2026
Principal held
$1.2B
debt pieces, the filer's figure
Cost
$1.2B
89c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
319
205 borrowers
First lien
87%
96% debt by fair value
Quarters on the tape
9
since Dec 31, 2023
Facilities held
237
36 sponsors financed
Portfolio through time
Fair value by quarter end$1.1B as of Jun 30, 2026
Dec 31, 2023$4.3B then
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2026$1.1B20589c13478 bp
Mar 31, 2026$1.2B21390c14473 bp
Dec 31, 2025$2.4B21193c36484 bp
Sep 30, 2025$1.3B18894c13480 bp
All 9 quarters
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2025$1.3B18895c13479 bp
Mar 31, 2025$5.0B19295c13477 bp
Dec 31, 2024$5.5B19596c26494 bp
Sep 30, 2024$5.2B19897c0473 bp
Dec 31, 2023$4.3B18395c5485 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 Jun 30, 2026
319 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
B•••• 2•••••• S•• I••••••••• C••••••••• L••• O•••••••••
Structured finance (CLO)
unstated lien unstatedNot disclosedNot disclosed
K•••••••• F•••• S••••••equity equityNot disclosedNot disclosed
M•••• 2•••••• F• I••••••••• C••••••••• L••• O•••••••••
Structured finance (CLO)
unstated lien unstatedNot disclosedNot disclosed
N•• W••• P•••••• L••preferred equity equityNot disclosedNot disclosed
R••••••• S•••••••• P•••••• L••equity equityNot disclosedNot disclosed
E•••• 2•••••• F•• I••••••••• C••••••••• L••• O•••••••••
Structured finance (CLO)
unstated lien unstatedNot disclosedNot disclosed
K•••••••• F•••• S••••••equity equityNot disclosedNot disclosed
K•••••••• F•••• S••••••equity equityNot disclosedNot disclosed
K•••••••• F•••• S••••••equity equityNot disclosedNot disclosed
E•••• 2•••••• F•• I••••••••• C••••••••• L••• O•••••••••
Structured finance (CLO)
unstated lien unstatedNot disclosedNot disclosed
A•••••••• A••••••••• C••• I•••equity equityNot disclosedNot disclosed
K•••••••• F•••• S••••••equity equityNot disclosedNot disclosed
K•••••••• F•••• S••••••equity equityNot disclosedNot disclosed
K•••••••• F•••• S••••••equity equityNot disclosedNot disclosed
A••••• F•••••••• S••• I••••••••• C••••••••notes lien unstatedNot disclosedNot disclosed
P••• 2•••••• F• I••••••••• C••••••••• L••• O•••••••••
Structured finance (CLO)
unstated lien unstatedNot disclosedNot disclosed
L•••• 2•••••• S•• I••••••••• C••••••••• L••• O•••••••••
Structured finance (CLO)
unstated lien unstatedNot disclosedNot disclosed
H•• 1••••• S•• I••••••••• C••••••••• L••• O•••••••••
Structured finance (CLO)
unstated lien unstatedNot disclosedNot disclosed
P••• I••••••••• H••••••• I••equity equityNot disclosedNot disclosed
Page 4 of 4Previous
Registration
Fiscal year end
1231reported
Incorporated
MDreported
On the SEC BDC report
2022 to 2026reported
Filings listed
19reported10-Q and 10-K since 2022
Latest schedule
0001193125-26-333791reported