PennantPark Floating Rate Capital
Inside PennantPark Floating Rate Capital’s $4.1B private-credit portfolio — 731 portfolio holdings disclosed in SEC filings.
Filing Information
Portfolio Composition
Portfolio-wide breakdown by fair value across this BDC’s full Schedule of Investments. Source: SEC EDGAR (public).
Top Portfolio Holdings
| Company | Sector | Investment | Coupon | Maturity | Cost | Fair Value |
|---|---|---|---|---|---|---|
| Fund I, LLC Acquisition 8/10/2020 | Financial Services Current Coupon 11.88% Basis Point | Senior Secured Loan Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 8.00% | 2029-05-07 | $237,650,000 | $237,650,000 |
| Harris & Co. LLC Acquisition 8/9/2024 | Professional Services Current Coupon 8.67% Basis Point | Secured Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 5.00% | 2030-08-09 | $83,877,000 | $84,526,000 |
| Fund II, LLC Acquisition 11/18/2025 | Financial Services Current Coupon 11.89% Basis Point | Senior Secured Loan Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 8.00% | 2032-08-08 | $65,625,000 | $65,625,000 |
| Acquisition 8/10/2020 | Common Equity | $163,100,000 | $60,116,000 | |||
| Loving Tan Intermediate II, Inc. Acquisitions 5/24/2023 | Personal Products Current Coupon 8.95% Basis Point | Secured Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 5.25% | 2028-05-31 | $57,014,000 | $57,223,000 |
| Best Practice Associates, LLC Acquisition 11/7/2024 | Aerospace and Defense Current Coupon 10.42% Basis Point | Secured Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 6.75% | 2029-11-08 | $57,819,000 | $57,183,000 |
| Aechelon InvestCo, LP Acquisition 8/16/2024 | Warrants | $2,992,000 | $45,284,000 | |||
| Sabel Systems Technology Solutions, LLC Acquisition 10/31/2024 | Government Services Current Coupon 9.67% Basis Point | Secured Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 6.00% | 2030-10-31 | $42,635,000 | $43,016,000 |
| RTIC Subsidiary Holdings, LLC Acquisition 5/3/2024 | Leisure Products Current Coupon 9.45% Basis Point | Secured Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 5.75% | 2029-05-03 | $41,660,000 | $41,494,000 |
| Argano, LLC Acquisition 9/13/2024 | Business Services Current Coupon 9.18% Basis Point | Secured Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 5.50% | 2029-09-13 | $40,608,000 | $40,518,000 |
| C5MI Acquisition, LLC Acquisition 7/31/2024 | IT Services Current Coupon 9.67% Basis Point | Secured Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 6.00% | 2029-07-31 | $38,939,000 | $39,340,000 |
| Marketplace Events Acquisition, LLC Acquisition 12/19/2024 | Media Current Coupon 8.95% Basis Point | Secured Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 5.25% | 2030-12-20 | $34,381,000 | $34,343,000 |
| Express Wash Acquisition Company, LLC Acquisition 4/10/2025 | Automobiles Current Coupon 9.90% Basis Point | Secured Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 6.25% | 2031-04-10 | $34,695,000 | $33,889,000 |
| Harvest Group Topco Buyer, LLC Acquisitions 3/2/2026 | Secured Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 4.75% | 2032-03-02 | $33,724,000 | $33,723,000 | |
| Carnegie Dartlet, LLC Acquisition 2/7/2024 | Professional Services Current Coupon 9.17% Basis Point | Secured Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 5.50% | 2030-02-07 | $33,256,000 | $33,383,000 |
| Systems Planning And Analysis, Inc. Acquisition 10/12/2021 | Aerospace and Defense Current Coupon 8.45% Basis Point | Secured Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 4.75% | 2027-08-16 | $33,003,000 | $33,173,000 |
| GGG Midco, LLC Acquisition 9/27/2024 | Diversified Consumer Services Current Coupon 8.67% Basis Point | Secured Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 5.00% | 2030-09-27 | $30,845,000 | $31,398,000 |
| OSP Embedded Purchaser, LLC Acquisition 12/11/2023 | Aerospace and Defense Current Coupon 9.42% Basis Point | Secured Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 5.75% | 2029-12-17 | $29,391,000 | $29,214,000 |
| Commercial Fire Protection Holdings, LLC Acquisition 9/23/2024 | Commercial Services & Supplies Current Coupon 8.20% Basis Point | Secured Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 4.50% | 2030-09-23 | $28,766,000 | $28,937,000 |
| Acquisition 11/18/2025 | Common Equity | $28,125,000 | $27,879,000 | |||
| Beacon Behavioral Support Services, LLC Acquisition 6/21/2024 | Healthcare Providers and Services Current Coupon 9.20% Basis Point | Secured Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 5.50% | 2029-06-21 | $27,447,000 | $27,728,000 |
| Omnia Exterior Solutions, LLC Acquisition 12/29/2023 | Diversified Consumer Services Current Coupon 8.92% Basis Point | Secured Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 5.50% | 2029-12-31 | $26,423,000 | $26,132,000 |
| Archer Lewis, LLC Acquisition 8/28/2024 | Healthcare Technology Current Coupon 9.45% Basis Point | Secured Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 5.75% | 2029-08-28 | $26,209,000 | $25,880,000 |
| Beacon Behavioral Support Services, LLC Acquisition 10/9/2024 | Healthcare and Pharmaceuticals Current Coupon 9.20% Basis Point | Secured Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 5.50% | 2029-06-21 | $24,701,000 | $24,874,000 |
| RRA Corporate, LLC Acquisition 8/15/2024 | Diversified Consumer Services Current Coupon 8.94% Basis Point | Secured Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 5.25% | 2029-08-15 | $25,558,000 | $24,731,000 |
Loan-Pricing Trend
Fair-value-weighted average credit spread and average mark across this BDC’s Schedule-of-Investments debt holdings, by filing quarter. Spread and mark are shown in the units reported in the filing. Source: SEC EDGAR (public).
| Quarter | Priced Loans | Wtd-Avg Spread | Avg Mark | Debt Fair Value |
|---|---|---|---|---|
| 2022-06-30 | 0 | — | — | $291K |
| 2022-09-30 | 0 | — | — | $249K |
| 2022-12-31 | 0 | — | — | $243K |
| 2023-03-31 | 0 | — | — | $215K |
| 2023-06-30 | 215 | 6.33 | 72.5 | $7.6B |
| 2023-09-30 | 183 | 6.49 | 73.9 | $6.5B |
| 2023-12-31 | 271 | 6.40 | 72.6 | $9.0B |
| 2024-03-31 | 243 | 6.34 | 76.2 | $10.3B |
| 2024-06-30 | 248 | 6.26 | 79.0 | $11.3B |
| 2024-09-30 | 272 | 6.11 | 75.1 | $10.4B |
| 2024-12-31 | 282 | 5.98 | 74.9 | $11.6B |
| 2025-03-31 | 301 | 5.88 | 75.3 | $12.3B |
| 2025-06-30 | 312 | 6.09 | 76.6 | $3.6B |
| 2025-09-30 | 415 | 5.67 | 80.9 | $4.6B |
| 2025-12-31 | 485 | 5.67 | 82.6 | $5.0B |
| 2026-03-31 | 348 | 5.72 | 76.0 | $3.8B |
Marks reflect each BDC’s own fair-value estimates as reported to the SEC, not traded prices. Private-credit loans are predominantly Level 3 under ASC 820 — valued from unobservable inputs and determined in good faith by each BDC’s board, so figures are estimates as of the filing date and are not directly comparable across managers. Informational only; not investment advice or a valuation.
About PennantPark Floating Rate Capital
PennantPark Floating Rate Capital (PFLT) is a publicly traded Business Development Company (BDC) — essentially a publicly listed fund that lends money to mid-sized private companies. In plain English: BDCs raise money from public investors and lend it to businesses that are too small for Wall Street banks. By law, they must pay out at least 90% of their profits as dividends, which is why BDC yields are often 8–12%. PennantPark Floating Rate Capital discloses its full loan portfolio through SEC filings.
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