10-Q: Quarterly report [Sections 13 or 15(d)]
Published on November 5, 2024
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Commission File Number:
(Exact name of registrant as specified in its charter)
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(State or other jurisdiction of |
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(I.R.S. Employer |
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(Address of principal executive offices) |
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(Zip Code) |
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(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
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Trading Symbol(s) |
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Name of each exchange on which registered |
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Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer |
☐ |
Accelerated filer |
☐ |
☒ |
Smaller reporting company |
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Emerging growth company |
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No
As of November 5, 2024, the registrant had
Table of Contents
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Page |
PART I. |
1 |
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Item 1. |
1 |
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1 |
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2 |
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3 |
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4 |
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Consolidated Schedules of Investments as of September 30, 2024 (Unaudited) and December 31, 2023 |
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29 |
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Item 2. |
Management’s Discussion and Analysis of Financial Condition and Results of Operations |
46 |
Item 3. |
59 |
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Item 4. |
59 |
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PART II. |
60 |
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Item 1. |
60 |
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Item 1A. |
60 |
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Item 2. |
61 |
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Item 3. |
61 |
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Item 4. |
61 |
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Item 5. |
61 |
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Item 6. |
62 |
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63 |
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i
PART I—FINANCIAL INFORMATION
Item 1. Consolidated Financial Statements.
Palmer Square Capital BDC Inc.
Consolidated Statements of Assets and Liabilities
(Unaudited)
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September 30, |
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December 31, |
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Assets: |
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Non-controlled, non-affiliated investments, at fair value (amortized cost of $ |
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$ |
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$ |
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Cash and cash equivalents |
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Receivables: |
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Receivable for sales of investments |
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Receivable for paydowns of investments |
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Due from investment adviser |
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Dividend receivable |
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Interest receivable |
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Prepaid expenses and other assets |
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Total Assets |
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$ |
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$ |
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Liabilities: |
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Credit facilities (net of deferred financing costs of $ |
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$ |
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$ |
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Notes (net of deferred financing costs of $ |
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Payables: |
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Payable for investments purchased |
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Distributions payable |
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Management fee payable |
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Incentive fee payable |
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Accrued other general and administrative expenses |
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Total Liabilities |
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$ |
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$ |
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Net Assets: |
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Common Shares, $ |
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$ |
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$ |
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Additional paid-in capital |
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Total distributable earnings (accumulated deficit) |
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Total Net Assets |
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$ |
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$ |
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Total Liabilities and Net Assets |
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$ |
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$ |
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Net Asset Value Per Common Share |
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$ |
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$ |
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The accompanying notes are an integral part of these consolidated financial statements.
1
Palmer Square Capital BDC Inc.
Consolidated Statements of Operations
(Unaudited)
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For the Three Months Ended September 30, |
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For the Nine Months Ended September 30, |
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2024 |
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2023 |
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2024 |
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2023 |
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Income: |
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Investment income from non-controlled, non-affiliated |
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Interest income |
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$ |
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$ |
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$ |
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$ |
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Dividend income |
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Payment-in-kind interest income |
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Other income |
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Total investment income from non-controlled, non-affiliated |
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Total Investment Income |
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Expenses: |
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Incentive fees |
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Interest expense |
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Management fees |
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Professional fees |
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Directors fees |
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Other general and administrative expenses |
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Total Expenses |
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Less: Management fee waiver (Note 3) |
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Net expenses |
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Net Investment Income (Loss) |
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Realized and unrealized gains (losses) on investments and foreign currency transactions |
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Net realized gains (losses): |
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Non-controlled, non-affiliated investments |
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( |
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Total net realized gains (losses) |
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( |
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( |
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( |
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Net change in unrealized gains (losses): |
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Non-controlled, non-affiliated investments |
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( |
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Total net change in unrealized gains (losses) |
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Total realized and unrealized gains (losses) |
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( |
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Net Increase (Decrease) in Net Assets Resulting from Operations |
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$ |
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$ |
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$ |
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$ |
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Per Common Share Data: |
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Basic and diluted net investment income per common share |
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$ |
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$ |
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$ |
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$ |
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Basic and diluted net increase (decrease) in net assets resulting from operations |
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$ |
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$ |
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$ |
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$ |
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Weighted Average Common Shares Outstanding - Basic and |
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The accompanying notes are an integral part of these consolidated financial statements.
2
Palmer Square Capital BDC Inc.
Consolidated Statements of Changes in Net Assets
(Unaudited)
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For the Three Months Ended September 30, |
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For the Nine Months Ended September 30, |
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2024 |
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2023 |
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2024 |
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2023 |
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Increase (Decrease) in Net Assets Resulting from |
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Net investment income (loss) |
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$ |
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$ |
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$ |
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$ |
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Net realized gains (losses) on investments and foreign currency transactions |
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( |
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Net change in unrealized gains (losses) on investments, foreign currency translations, and foreign currency exchange contracts |
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( |
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Net Increase (Decrease) in Net Assets Resulting from Operations |
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Decrease in Net Assets Resulting from Stockholder Distributions |
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Dividends and distributions to stockholders |
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( |
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Net Decrease in Net Assets Resulting from Stockholder Distributions |
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Increase in Net Assets Resulting from Capital Share Transactions |
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Issuance of common shares |
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Shares issued in connection with dividend reinvestment plan (Note 7) |
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Repurchase of common shares |
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( |
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Net Increase in Net Assets Resulting from Capital Share Transactions |
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Total Increase (Decrease) in Net Assets |
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Net Assets, Beginning of Period |
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Net Assets, End of Period |
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$ |
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$ |
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$ |
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$ |
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The accompanying notes are an integral part of these consolidated financial statements.
3
Palmer Square Capital BDC Inc.
Consolidated Statements of Cash Flows
(Unaudited)
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For the Nine Months Ended September 30, |
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2024 |
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2023 |
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Cash Flows from Operating Activities: |
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Net increase (decrease) in net assets resulting from operations |
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$ |
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$ |
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Adjustments to reconcile net increase (decrease) in net assets resulting from |
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Net realized (gains)/losses on investments |
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Net change in unrealized (gains)/losses on investments |
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( |
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Net accretion of discount on investments |
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( |
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( |
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Payment-in-kind interest |
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( |
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Purchases of short-term investments |
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( |
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Purchases of portfolio investments |
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Proceeds from sale of short-term investments |
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Proceeds from sale of portfolio investments |
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Amortization of deferred financing cost |
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Increase/(decrease) in operating assets and liabilities: |
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(Increase)/decrease in receivable for sales of investments |
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(Increase)/decrease in interest and dividends receivable |
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( |
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(Increase)/decrease in due from investment adviser |
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(Increase)/decrease in receivable for paydowns of investments |
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(Increase)/decrease in prepaid expenses and other assets |
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Increase/(decrease) in interest payable on credit facilities |
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Increase/(decrease) in payable for investments purchased |
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Increase/(decrease) in management fees payable |
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Increase/(decrease) in incentive fee payable |
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Increase/(decrease) in accrued other general and administrative expenses |
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( |
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Net cash provided by (used in) operating activities |
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Cash Flows from Financing Activities: |
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Borrowings on the credit facilities |
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Payments on the credit facilities |
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Borrowings on the notes |
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Payments of debt issuance costs |
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Distributions paid in cash |
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Proceeds from issuance of common shares, net of change in subscriptions receivable |
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Purchase of common shares for dividend reinvestment plan |
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Repurchase of common shares |
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( |
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Net cash provided by (used in) financing activities |
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Net increase/(decrease) in cash and cash equivalents |
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( |
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Cash and cash equivalents, beginning of period |
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Cash and cash equivalents, end of period |
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$ |
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$ |
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Supplemental and Non-Cash Information: |
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Interest paid during the period |
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$ |
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$ |
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Distributions declared during the period |
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$ |
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$ |
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Reinvestment of distributions during the period |
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$ |
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$ |
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Distributions payable |
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$ |
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$ |
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The accompanying notes are an integral part of these consolidated financial statements.
4
Palmer Square Capital BDC Inc.
Consolidated Schedules of Investments
As of September 30, 2024
(Unaudited)
Portfolio Company(3) |
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Industry |
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Interest Rate |
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Maturity Date |
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Principal / Par |
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Amortized Cost(1)(5) |
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Fair Value |
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Percentage of Net Assets |
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Debt Investments |
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First Lien Senior Secured(2) |
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888 Holdings PLC (4)(8) |
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Hotels, Restaurants and Leisure |
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$ |
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$ |
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$ |
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% |
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AAdvantage Loyalty IP Ltd. (4)(6)(8) |
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Insurance |
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% |
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AccentCare, Inc. (8) |
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Healthcare Providers and Services |
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% |
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Accession Risk Management Group, Inc. (6) |
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Insurance |
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% |
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Accession Risk Management Group, Inc. (7) |
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Insurance |
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% |
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Accession Risk Management Group, Inc. (6)(8) |
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Insurance |
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% |
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Acrisure, LLC (6)(7)(8) |
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Insurance |
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% |
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Ahead DB Holdings, LLC (6)(8) |
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IT Services |
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% |
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Aimbridge Acquisition Co., Inc. (6)(8) |
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Hotels, Restaurants and Leisure |
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% |
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Albion Financing 3 S.a r.l. (Albion Financing LLC) (4)(6)(8) |
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Diversified Consumer Services |
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% |
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Alliance Laundry Systems LLC (8) |
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Machinery |
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% |
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Alliant Holdings Intermediate, LLC (8) |
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Insurance |
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% |
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Allied Universal Holdco LLC (8) |
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Professional Services |
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% |
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Allspring Buyer LLC (6)(8) |
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Diversified Financial Services |
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% |
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American Rock Salt Company LLC (6)(8) |
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Metals and Mining |
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|
|
|
|
|
|
|
|
|
% |
||||||
American Rock Salt Company LLC (6) |
|
Metals and Mining |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Amynta Agency Borrower Inc. (Amynta Warranty Borrower Inc.) (8) |
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Ankura Consulting Group, LLC (6)(7) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
AP Gaming I, LLC (4)(7)(8) |
|
Hotels, Restaurants and Leisure |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Aptean Acquiror Inc. (7) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Aptean Acquiror Inc. (6)(7)(8)(11) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
AQA Acquisition Holding, Inc. (6)(8) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Aramsco, Inc. (6)(7)(8) |
|
Machinery |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
ARC Falcon I Inc. (6)(8) |
|
Chemicals |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Aretec Group, Inc. (6)(8) |
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Aruba Investments, Inc. (8) |
|
Chemicals |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Ascend Learning, LLC (6)(8) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Aspire Bakeries Holdings, LLC (8) |
|
Food Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
AssuredPartners, Inc (6)(8) |
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Asurion, LLC (6)(7)(8) |
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Asurion, LLC (6)(8) |
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Athletico Management, LLC (6) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Autokiniton US Holdings, Inc. (6)(8) |
|
Auto Components |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Aveanna Healthcare LLC (4)(6)(7) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Bach Finance Limited (4)(7)(8) |
|
Diversified Consumer Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Barracuda Networks, Inc. (6)(8) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
B'laster Holdings, LLC (6)(7)(8) |
|
Chemicals |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
5
Palmer Square Capital BDC Inc.
Consolidated Schedules of Investments
As of September 30, 2024
(Unaudited)
Portfolio Company(3) |
|
Industry |
|
Interest Rate |
|
Maturity Date |
|
Principal / Par |
|
|
Amortized Cost(1)(5) |
|
|
Fair Value |
|
|
Percentage of Net Assets |
|
||||
Boxer Parent Company Inc. (6)(8) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Carroll County Energy LLC (6)(8) |
|
Independent Power and Renewable Electricity Producers |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Castle US Holding Corporation (7)(8) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Castle US Holding Corporation (6) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
CCI Buyer, Inc. (8) |
|
Wireless Telecommunication Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
CCS-CMGC Holdings, Inc. (6)(9) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
CDK Global (7)(8) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Cengage Learning Acquisitions, Inc. (fka TL Acquisitions, Inc.) (4)(6)(8) |
|
Diversified Consumer Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Congruex Group LLC (6)(7)(8) |
|
Construction and Engineering |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Connectwise LLC (6)(8) |
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Consolidated Communications, Inc. (4)(6)(8) |
|
Diversified Telecommunication Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
ConvergeOne Holdings, Inc. (6)(7)(8) |
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Corelogic, Inc. (6)(8) |
|
Internet Software and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
CP Atlas Buyer, Inc (6)(8) |
|
Building Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
CPM Holdings, Inc. (8) |
|
Machinery |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Creation Technologies Inc. (4)(6)(8) |
|
Electronic Equipment, Instruments and Components |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Crown Subsea Communications Holding, Inc. (6)(8) |
|
Construction and Engineering |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Curia Global, Inc. (6)(8) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Deerfield Dakota Holding, LLC (8) |
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Delivery Hero SE (4)(6)(8) |
|
Diversified Consumer Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Delta Topco, Inc. (6) |
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
DIRECTV Financing, LLC (7)(8) |
|
Media |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Dotdash Meredith, Inc. (6)(7)(8) |
|
Media |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
ECI Software Solutions, Inc. (8) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
ECL Entertainment, LLC (7) |
|
Hotels, Restaurants and Leisure |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Edelman Financial Engines Center, LLC, The (8) |
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Edgewater Generation, L.L.C. (6)(8) |
|
Independent Power and Renewable Electricity Producers |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
EFS Cogen Holdings I, LLC (6)(7)(8) |
|
Independent Power and Renewable Electricity Producers |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Endurance International Group, Inc., The (6)(8) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
EnergySolutions, LLC (6)(8) |
|
Commercial Services and Supplies |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Enverus Holdings, Inc. (7) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Enverus Holdings, Inc. (7)(12) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
EP Purchaser, LLC (7)(8) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Epic Crude Services, LP (8) |
|
Energy Equipment and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
EPIC Y-Grade Services, LP (8) |
|
Energy Equipment and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Fertitta Entertainment, LLC (8) |
|
Hotels, Restaurants and Leisure |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Fiesta Purchaser, Inc. (7)(8) |
|
Food Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Filtration Group Corporation (6)(8) |
|
Industrial Conglomerates |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
First Brands Group, LLC (6)(8) |
|
Auto Components |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Flash Charm, Inc. (8) |
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
6
Palmer Square Capital BDC Inc.
Consolidated Schedules of Investments
As of September 30, 2024
(Unaudited)
Portfolio Company(3) |
|
Industry |
|
Interest Rate |
|
Maturity Date |
|
Principal / Par |
|
|
Amortized Cost(1)(5) |
|
|
Fair Value |
|
|
Percentage of Net Assets |
|
||||
Flexera Software LLC (8) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Forest City Enterprises, L.P. (6)(8) |
|
Real Estate Management and Development |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Fugue Finance, LLC (4)(6)(8) |
|
Diversified Consumer Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Gainwell Acquisition Corp. (8) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Galway Borrower LLC (7)(13)(14) |
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Garda World Security Corporation (4)(7)(8) |
|
Diversified Consumer Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Genuine Financial Holdings LLC (6)(8) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Global Medical Response, Inc. (6)(8) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Gloves Buyer, Inc. (6)(8) |
|
Industrial Conglomerates |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Great Outdoors Group, LLC (8) |
|
Specialty Retail |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Grinding Media Inc. (8) |
|
Metals and Mining |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
GS AcquisitionCo, Inc. (6)(7)(8) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
GS AcquisitionCo, Inc. (6)(7)(8)(14) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
HAH Group Holding Company LLC (6)(8) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Hamilton Projects Acquiror, LLC (6)(7) |
|
Electric Utilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Helios Software Holdings, Inc. (4)(7)(8) |
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Help/Systems Holdings, Inc. (7)(8) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Idemia Group S.A.S. (4)(6)(8) |
|
Internet Software and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
IMA Financial Group, Inc. (6)(7)(8) |
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Imagefirst Holdings, LLC (7) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Inception Finco S.a r.l. (4)(6)(7)(8) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Indicor, LLC (7)(8) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Ineos US Finance LLC (4)(7)(8) |
|
Chemicals |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Infinite Bidco, LLC (8) |
|
Electronic Equipment, Instruments and Components |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Infinite Bidco, LLC (6)(8) |
|
Electronic Equipment, Instruments and Components |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Inmar, Inc. (7)(8) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Invenergy Thermal Operating I LLC (6)(8) |
|
Independent Power and Renewable Electricity Producers |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Invenergy Thermal Operating I LLC (8) |
|
Independent Power and Renewable Electricity Producers |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Ivanti Software, Inc. (6)(7)(8) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Ivanti Software, Inc. (6)(8) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
IVC Acquistion, Ltd. (4)(8) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Jack Ohio Finance LLC (6)(7)(8) |
|
Hotels, Restaurants and Leisure |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Kestrel Acquisition, LLC (6)(8) |
|
Independent Power and Renewable Electricity Producers |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Kleopatra Finco S.a.r.l (4)(8) |
|
Containers and Packaging |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
LBM Acquisition, LLC (6)(8) |
|
Building Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Leia Finco US LLC (7)(8) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Lifescan Global Corporation (6)(7)(8) |
|
Healthcare Equipment and Supplies |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Lightstone Holdco LLC (6)(8) |
|
Independent Power and Renewable Electricity Producers |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Lightstone Holdco LLC (8) |
|
Independent Power and Renewable Electricity Producers |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
LogMeIn, Inc. (6) |
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
LogMeIn, Inc. (6)(7)(8) |
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
7
Palmer Square Capital BDC Inc.
Consolidated Schedules of Investments
As of September 30, 2024
(Unaudited)
Portfolio Company(3) |
|
Industry |
|
Interest Rate |
|
Maturity Date |
|
Principal / Par |
|
|
Amortized Cost(1)(5) |
|
|
Fair Value |
|
|
Percentage of Net Assets |
|
||||
Logrhythm, Inc. (7) |
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Magenta Security Holdings LLC (6)(8) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Magenta Security Holdings LLC (6)(7) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Magenta Security Holdings LLC (6)(8) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Magenta Security Holdings LLC (6) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Maverick 1, LLC (6)(8) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Max US Bidco Inc. (6) |
|
Food Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Medical Solutions Holdings, Inc. (6)(8) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Michael Baker International, LLC (7) |
|
Construction and Engineering |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Micro Holding Corp. (6)(8) |
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Midwest Veterinary Partners, LLC (7)(8) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Minotaur Acquisition, Inc. (6)(8) |
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Minotaur Acquisition, Inc. (6)(7)(8) |
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Mitchell International, Inc. (6)(8) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
MLN US HoldCo LLC (6)(9) |
|
Diversified Telecommunication Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Momentive Performance Materials USA, LLC (6)(8) |
|
Chemicals |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Motion Acquisition Limited (4)(6) |
|
Hotels, Restaurants and Leisure |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
MRI Software LLC (7) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
NAPA Management Services Corporation (6)(8) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Natgasoline LLC (8) |
|
Chemicals |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
National Mentor Holdings, Inc. (6)(8) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
National Mentor Holdings, Inc. (6)(8) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Nexus Buyer LLC (6)(8) |
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Nielsen Consumer Inc. (6)(8) |
|
Media |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Northstar Group Services, Inc. (6)(7)(8) |
|
Construction and Engineering |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
NSM Top Holdings Corp. (6)(8) |
|
Healthcare Equipment and Supplies |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Nvent Electric Public Limited Company (4)(7)(8) |
|
Electrical Equipment |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
OMNIA Partners, LLC (6)(8) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
OneDigital Borrower LLC (6) |
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Ontario Gaming GTA Limited Partnership (4)(6)(8) |
|
Hotels, Restaurants and Leisure |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Orchid Merger Sub II, LLC (4)(6) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Oregon Clean Energy, LLC (6)(8) |
|
Independent Power and Renewable Electricity Producers |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Osmosis Buyer Limited (6)(8) |
|
Food Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Outcomes Group Holdings, Inc. (6)(8) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Padagis, LLC (6)(7)(8) |
|
Pharmaceuticals |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Patriot Growth Insurance Services, LLC (7)(8)(15) |
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Peraton Corp. (6)(8) |
|
Aerospace and Defense |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Planet US Buyer LLC (6)(8) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Plano Holdco, Inc. (6)(8) |
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
8
Palmer Square Capital BDC Inc.
Consolidated Schedules of Investments
As of September 30, 2024
(Unaudited)
Portfolio Company(3) |
|
Industry |
|
Interest Rate |
|
Maturity Date |
|
Principal / Par |
|
|
Amortized Cost(1)(5) |
|
|
Fair Value |
|
|
Percentage of Net Assets |
|
||||
Pluto Acquisition I, Inc. (6)(8) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
PMHC II Inc. (6)(8) |
|
Chemicals |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Prairie ECI Acquiror LP (7)(8) |
|
Oil, Gas and Consumable Fuels |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Precisely Software Incorporated (6)(7)(8) |
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Pretium PKG Holdings, Inc. (6) |
|
Containers and Packaging |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Project Alpha Intermediate Holding, Inc. (8) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Project Boost Purchaser, LLC (8) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Prometric Holdings, Inc. (8) |
|
Diversified Consumer Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
PS Holdco, LLC (6)(8) |
|
Road and Rail |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
PT Intermediate Holdings III, LLC (6)(7) |
|
Machinery |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Radiology Partners, Inc. (6)(8) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
RC Buyer, Inc. (6)(8) |
|
Auto Components |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
RealPage, Inc. (6)(8) |
|
Real Estate Management and Development |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
RealTruck Group, Inc. (6) |
|
Auto Components |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
RealTruck Group, Inc. (6)(7) |
|
Auto Components |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Red Planet Borrower, LLC (7)(8) |
|
Internet Software and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Redstone Holdco 2 LP (6)(7) |
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Refresco (4)(7)(8) |
|
Food Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Renaissance Holding Corp. (6)(7)(8) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Restoration Hardware, Inc. (4)(8) |
|
Household Durables |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Rocket Software, Inc. (6)(7)(8) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Rohm Holding GmbH (4)(6)(8) |
|
Chemicals |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Runner Buyer Inc. (7) |
|
Household Durables |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Ryan, LLC (7) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Simon & Schuster, Inc. (8) |
|
Media |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Sitel Group (4)(6)(8) |
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Sovos Compliance, LLC (6)(7)(8) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Specialty Building Products Holdings, LLC (6)(8) |
|
Building Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Summer BC Holdco B LLC (4)(6)(8) |
|
Media |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
9
Palmer Square Capital BDC Inc.
Consolidated Schedules of Investments
As of September 30, 2024
(Unaudited)
Portfolio Company(3) |
|
Industry |
|
Interest Rate |
|
Maturity Date |
|
Principal / Par |
|
|
Amortized Cost(1)(5) |
|
|
Fair Value |
|
|
Percentage of Net Assets |
|
||||
Talen Energy Supply, LLC (4)(6)(8) |
|
Independent Power and Renewable Electricity Producers |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Talen Energy Supply, LLC (4)(7)(8) |
|
Independent Power and Renewable Electricity Producers |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Tank Holding Corp. (6) |
|
Containers and Packaging |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Tank Holding Corp. (6) |
|
Containers and Packaging |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Tank Holding Corp. (6)(16) |
|
Containers and Packaging |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Tecta America Corp. (8) |
|
Construction and Engineering |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Thryv, Inc. (4)(6) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Titan US Finco, LLC (4)(6)(7)(8) |
|
Media |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Tosca Services, LLC (8) |
|
Containers and Packaging |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Tosca Services, LLC (6)(8) |
|
Containers and Packaging |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Transnetwork, LLC (7)(8) |
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
U.S. Renal Care, Inc. (8) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
UKG Inc. (6)(8) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
US Radiology Specialists, Inc. (6)(8) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
USIC Holdings, Inc. (6)(7)(8) |
|
Construction and Engineering |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
USIC Holdings, Inc. (6)(7)(8)(17) |
|
Construction and Engineering |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
USIC Holdings, Inc. (6)(7)(8)(18) |
|
Construction and Engineering |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Veracode (6)(8) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
VeriFone Systems, Inc. (6) |
|
Commercial Services and Supplies |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Vocus Group DD T/L (4)(8) |
|
Diversified Telecommunication Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
WarHorse Gaming, LLC (6) |
|
Hotels, Restaurants and Leisure |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Waterbridge NDB Operating LLC (6) |
|
Energy Equipment and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Watlow Electric Manufacturing Company (8) |
|
Electrical Equipment |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
WestJet Loyalty LP (4)(8) |
|
Airlines |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Xplor T1, LLC |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Zayo Group Holdings, Inc. (8) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Zegona Holdco Limited (4)(8) |
|
Diversified Telecommunication Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Total First Lien Senior Secured |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||
10
Palmer Square Capital BDC Inc.
Consolidated Schedules of Investments
As of September 30, 2024
(Unaudited)
Portfolio Company(3) |
|
Industry |
|
Interest Rate |
|
Maturity Date |
|
Principal / Par |
|
|
Amortized Cost(1)(5) |
|
|
Fair Value |
|
|
Percentage of Net Assets |
|
||||
Second Lien Senior Secured(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
American Rock Salt Company LLC (6)(8) |
|
Metals and Mining |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
ARC Falcon I Inc. (6)(8) |
|
Chemicals |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Aruba Investments, Inc. (6)(8) |
|
Chemicals |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Asurion, LLC (8) |
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Barracuda Networks, Inc. (6)(7) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
DCert Buyer, Inc. (6)(8) |
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Delta Topco, Inc. (6)(8) |
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Edelman Financial Engines Center, LLC, The (6)(8) |
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
First Brands Group, LLC (6)(8) |
|
Auto Components |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Flash Charm, Inc. (6) |
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Gainwell Acquisition Corp. (6)(8) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Help/Systems Holdings, Inc. (6)(7) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Infinite Bidco, LLC (6)(8) |
|
Electronic Equipment, Instruments and Components |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Ivanti Software, Inc. (6) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Mitchell International, Inc. (6)(8) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Nexus Buyer LLC (6) |
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
OneDigital Borrower LLC (7)(8) |
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Peraton Corp. (6) |
|
Aerospace and Defense |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Pretium PKG Holdings, Inc. (6) |
|
Containers and Packaging |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Pretium PKG Holdings, Inc. (6)(8) |
|
Containers and Packaging |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Project Boost Purchaser, LLC (6)(8) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
RealPage, Inc. (6)(8) |
|
Real Estate Management and Development |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Vision Solutions, Inc. (8) |
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Total Second Lien Senior Secured |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||
Corporate Bonds |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Altice Financing S.A. (4)(6) |
|
Diversified Telecommunication Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
KOBE US Midco 2 Inc (6) |
|
Chemicals |
|
NA |
|
|
|
|
|
|
|
|
|
|
|
|
% |
|||||
Total Corporate Bonds |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||
Total Debt Investments |
|
|
|
|
|
|
|
$ |
|
|
$ |
|
|
$ |
|
|
|
% |
||||
11
Palmer Square Capital BDC Inc.
Consolidated Schedules of Investments
As of September 30, 2024
(Unaudited)
Portfolio Company(3) |
|
Industry |
|
Interest Rate |
|
Maturity Date |
|
Principal / Par |
|
|
Amortized Cost(1)(5) |
|
|
Fair Value |
|
|
Percentage of Net Assets |
|
||||
CLO Mezzanine(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
522 Funding CLO 2020-6, Ltd. (4)(6)(8) |
|
Structured Note |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
APID 2016-24A (4)(6)(8) |
|
Structured Note |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
ARES 2019-53A (4)(6) |
|
Structured Note |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Carlyle US CLO 2020-2, Ltd (4)(6)(8) |
|
Structured Note |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
CIFC 2018-4A (4)(6)(8) |
|
Structured Note |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
CIFC 2023-2A (4)(6) |
|
Structured Note |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
GLM 2021-9A FR (4)(6)(8) |
|
Structured Note |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
GoldenTree Loan Management US 2020-7A (4)(6)(8) |
|
Structured Note |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
GOST 2024-1A E (4)(6) |
|
Structured Note |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
HLM 2023-18A (4)(6)(8) |
|
Structured Note |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
MUZ88 2022-1A (4)(6)(8) |
|
Structured Note |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Thayer Park CLO, Ltd. (4)(6)(8) |
|
Structured Note |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Total CLO Mezzanine |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||
CLO Equity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Babson CLO 2018-4A, Ltd. (4)(6)(8) |
|
Structured Subordinated Note |
|
NA |
|
|
|
|
|
|
|
|
|
|
|
|
% |
|||||
Dryden 86 CLO, Ltd. (4)(6)(8) |
|
Structured Subordinated Note |
|
NA |
|
|
|
|
|
|
|
|
|
|
|
|
% |
|||||
HPS Loan Management 12-2018, Ltd. (4)(6)(8) |
|
Structured Subordinated Note |
|
NA |
|
|
|
|
|
|
|
|
|
|
|
|
% |
|||||
Long Point Park CLO, Ltd. (4)(6)(7) |
|
Structured Subordinated Note |
|
NA |
|
|
|
|
|
|
|
|
|
|
|
|
% |
|||||
Regatta XII Funding Ltd. (4)(6) |
|
Structured Subordinated Note |
|
NA |
|
|
|
|
|
|
|
|
|
|
|
|
% |
|||||
Signal Peak CLO, LLC (4)(6)(7)(8) |
|
Structured Subordinated Note |
|
NA |
|
|
|
|
|
|
|
|
|
|
|
|
% |
|||||
Stratus CLO Series 2021-1A (4)(6)(7) |
|
Structured Subordinated Note |
|
NA |
|
|
|
|
|
|
— |
|
|
|
|
|
|
% |
||||
Total CLO Equity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||
12
Palmer Square Capital BDC Inc.
Consolidated Schedules of Investments
As of September 30, 2024
(Unaudited)
|
|
|
|
|
|
|
|
Number of Shares |
|
|
Cost |
|
|
Fair Value |
|
|
Percentage of Net Assets |
|
||||
Equity Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
PVKG Investments Holdings Inc (4)(6) |
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||
Total Equity Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||
Total Equity and Other Investments |
|
|
|
|
|
|
|
|
|
|
$ |
|
|
$ |
|
|
|
% |
||||
13
Palmer Square Capital BDC Inc.
Consolidated Schedules of Investments
As of September 30, 2024
(Unaudited)
|
|
|
|
|
|
|
|
Number of Shares |
|
|
Cost |
|
|
Fair Value |
|
|
Percentage of Net Assets |
|
||||
Short-Term Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Fidelity Investments Money Market Government Portfolio - Institutional Class, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||
Morgan Stanley Liquidity Funds US Dollar Treasury Liquidity Fund - Institutional Class, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||
Total Short-Term Investments |
|
|
|
|
|
|
|
|
|
|
$ |
|
|
$ |
|
|
|
% |
||||
Total Investments |
|
|
|
|
|
|
|
|
|
|
$ |
|
|
$ |
|
|
|
% |
||||
Liabilities in Excess of Other Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
( |
) |
|
|
( |
)% |
||
Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
|
|
|
% |
||||
14
The accompanying notes are an integral part of these consolidated financial statements.
15
Palmer Square Capital BDC Inc.
Consolidated Schedules of Investments
As of December 31, 2023
Portfolio Company(3) |
|
Industry |
|
Interest Rate |
|
Maturity Date |
|
Principal / Par |
|
|
Amortized Cost(1)(5) |
|
|
Fair Value |
|
|
Percentage of Net Assets |
|
||||
Debt Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
First Lien Senior Secured(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
888 Holdings PLC (4)(6) |
|
Hotels, Restaurants and Leisure |
|
|
|
$ |
|
|
$ |
|
|
$ |
|
|
|
% |
||||||
AAdvantage Loyalty IP Ltd. (4)(6) |
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
AccentCare, Inc. (6) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Accession Risk Management Group, Inc. (9) |
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Accession Risk Management Group, Inc. |
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Accession Risk Management Group, Inc. |
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Accession Risk Management Group, Inc. (7) |
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Acrisure, LLC (6) |
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Acrisure, LLC (6) |
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
AI Aqua Merger Sub, Inc., (6)(7) |
|
Food Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Aimbridge Acquisition Co., Inc. (6) |
|
Hotels, Restaurants and Leisure |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Alliant Holdings Intermediate LLC (6) |
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Allied Universal Holdco LLC (6) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Amentum Government Services Holdings LLC (6) |
|
Aerospace and Defense |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
American Rock Salt Company LLC (6) |
|
Metals and Mining |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Amynta Agency Borrower, Inc. (6) |
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
AP Gaming I, LLC (4)(6) |
|
Hotels, Restaurants and Leisure |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Apollo Finco BV (4) |
|
Household Durables |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Aptean Inc (6)(7) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Aptean Inc (7) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
AQA Acquisition Holding, Inc. (6) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Aramsco, Inc. (7) |
|
Machinery |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
ARC Falcon I Inc. (6) |
|
Chemicals |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Aretec Group, Inc. (6) |
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
16
Palmer Square Capital BDC Inc.
Consolidated Schedules of Investments
As of December 31, 2023
Portfolio Company(3) |
|
Industry |
|
Interest Rate |
|
Maturity Date |
|
Principal / Par |
|
|
Amortized Cost(1)(5) |
|
|
Fair Value |
|
|
Percentage of Net Assets |
|
||||
Ascend Learning, LLC (6) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Aspire Bakeries Holdings, LLC (6) |
|
Food Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
AssuredPartners, Inc. (6) |
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
AssuredPartners, Inc. (6) |
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Athletico Management, LLC (6) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Autokiniton US Holdings, Inc. (6)(7) |
|
Auto Components |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Aveanna Healthcare LLC (4)(6) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Barracuda Networks, Inc. (6) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
B'laster Holdings, LLC (7) |
|
Chemicals |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Boxer Parent Company, Inc. (6) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Castle US Holding Corporation (7) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Castle US Holding Corporation (6)(7) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
CCI Buyer, Inc. (6)(7) |
|
Wireless Telecommunication Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
CCS-CMGC Holdings, Inc. (6) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
CDK Global (6) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Congruex Group LLC (7) |
|
Construction and Engineering |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Connectwise LLC (6) |
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Consolidated Communications, Inc. (4)(6) |
|
Diversified Telecommunication Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
ConvergeOne Holdings Corp. (6)(7)(2) |
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Corelogic, Inc. (6) |
|
Internet Software and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
CP Atlas Buyer, Inc (6) |
|
Building Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
CPM Holdings, Inc. (6) |
|
Machinery |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Creation Technologies, Inc. (4)(7) |
|
Electronic Equipment, Instruments and Components |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Crown Subsea Communications Holding, Inc. (6) |
|
Construction and Engineering |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
17
Palmer Square Capital BDC Inc.
Consolidated Schedules of Investments
As of December 31, 2023
Portfolio Company(3) |
|
Industry |
|
Interest Rate |
|
Maturity Date |
|
Principal / Par |
|
|
Amortized Cost(1)(5) |
|
|
Fair Value |
|
|
Percentage of Net Assets |
|
||||
Curia Global, Inc. (6) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Deerfield Dakota Holding, LLC (6) |
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Delta Topco, Inc. (6) |
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
DIRECTV Financing, LLC (6) |
|
Media |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Dotdash Meredith, Inc. (6) |
|
Media |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
EAB Global, Inc. (6) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
ECI Software Solutions, Inc. (6) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
ECL Entertainment, LLC (7) |
|
Hotels, Restaurants and Leisure |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
EFS Cogen Holdings I, LLC (6)(7) |
|
Independent Power and Renewable Electricity Producers |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Endurance International Group, Inc., The (6) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
EnergySolutions, LLC (6) |
|
Commercial Services and Supplies |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Enverus Holdings, Inc. (7) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
EP Purchaser, LLC (6) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
EPIC Y-Grade Services, LP (6) |
|
Energy Equipment and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Fertitta Entertainment, LLC (6) |
|
Hotels, Restaurants and Leisure |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Filtration Group Corp. (6) |
|
Industrial Conglomerates |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Flexera Software LLC (6)(7) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Fugue Finance, LLC (4)(6) |
|
Diversified Consumer Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Gainwell Acquisition Corp. (6) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Garda World Security Corporation (4)(6) |
|
Diversified Consumer Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Generation Bridge Northeast, LLC (6) |
|
Independent Power and Renewable Electricity Producers |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Genuine Financial Holdings LLC (4)(6) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
18
Palmer Square Capital BDC Inc.
Consolidated Schedules of Investments
As of December 31, 2023
Portfolio Company(3) |
|
Industry |
|
Interest Rate |
|
Maturity Date |
|
Principal / Par |
|
|
Amortized Cost(1)(5) |
|
|
Fair Value |
|
|
Percentage of Net Assets |
|
||||
Getty Images, Inc. (4)(6)(7) |
|
Media |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Global Medical Response, Inc. (6) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Gloves Buyer, Inc. |
|
Machinery |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Grab Holdings Inc (4)(6) |
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Great Outdoors Group, LLC (6) |
|
Specialty Retail |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Grinding Media Inc. (7) |
|
Metals and Mining |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
HAH Group Holding Company LLC (6) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
HAH Group Holding Company LLC (6) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Hamilton Projects Acquiror, LLC (6)(7) |
|
Independent Power and Renewable Electricity Producers |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Helios Software Holdings, Inc. (4)(6) |
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Help/Systems Holdings, Inc. (6) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
HUB International Ltd. |
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Idera, Inc. (6) |
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
IMA Financial Group, Inc. (7) |
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Imagefirst Holdings, LLC (7) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Indicor, LLC (6) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Indy US Holdco, LLC (6) |
|
Media |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Infinite Bidco, LLC (6) |
|
Electronic Equipment, Instruments and Components |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Infinite Bidco, LLC |
|
Electronic Equipment, Instruments and Components |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
19
Palmer Square Capital BDC Inc.
Consolidated Schedules of Investments
As of December 31, 2023
Portfolio Company(3) |
|
Industry |
|
Interest Rate |
|
Maturity Date |
|
Principal / Par |
|
|
Amortized Cost(1)(5) |
|
|
Fair Value |
|
|
Percentage of Net Assets |
|
||||
Inmar, Inc. (6)(7) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Invenergy Thermal Operating I LLC (7) |
|
Independent Power and Renewable Electricity Producers |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Invenergy Thermal Operating I LLC (7) |
|
Independent Power and Renewable Electricity Producers |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
iSolved, Inc. (6) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Ivanti Software, Inc. (6) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Ivanti Software, Inc. (6) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
IVC Acquisition, Ltd. (4)(6) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Jack Ohio Finance LLC (7) |
|
Hotels, Restaurants and Leisure |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Jones DesLauriers Insurance Management Inc. (4)(7) |
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Kestrel Acquisition, LLC (6) |
|
Independent Power and Renewable Electricity Producers |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Kleopatra Finco S.a.r.l (4)(6) |
|
Containers and Packaging |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
LBM Acquisition LLC (6)(7) |
|
Building Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Life Time, Inc. (4)(6) |
|
Hotels, Restaurants and Leisure |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Lifescan Global Corporation (6) |
|
Healthcare Equipment and Supplies |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Lightstone Holdco LLC (6) |
|
Independent Power and Renewable Electricity Producers |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Lightstone Holdco LLC (6) |
|
Independent Power and Renewable Electricity Producers |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
LogMeIn, Inc. (6) |
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Magenta Buyer LLC (6) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Mariner Wealth Advisors, LLC (7) |
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Maverick 1, LLC |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Max US Bidco Inc. |
|
Food Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Medical Solutions L.L.C. (7) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
20
Palmer Square Capital BDC Inc.
Consolidated Schedules of Investments
As of December 31, 2023
Portfolio Company(3) |
|
Industry |
|
Interest Rate |
|
Maturity Date |
|
Principal / Par |
|
|
Amortized Cost(1)(5) |
|
|
Fair Value |
|
|
Percentage of Net Assets |
|
||||
Mermaid Bidco, Inc. |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Michael Baker International, LLC (7) |
|
Construction and Engineering |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Micro Holding Corp. (6) |
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Midwest Veterinary Partners, LLC (6) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Minotaur Acquisition, Inc. (6)(7) |
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Mitchell International, Inc. (6) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
MLN US HoldCo LLC (6) |
|
Diversified Telecommunication Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Momentive Performance Materials USA, LLC (6) |
|
Chemicals |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
NAPA Management Services Corporation (6) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
National Mentor Holdings, Inc. (6) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
National Mentor Holdings, Inc. (6) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Navicure, Inc. (6) |
|
Healthcare Technology |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Nexus Buyer LLC (6) |
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
NorthStar Group Services, Inc. (6)(7) |
|
Commercial Services and Supplies |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
NSM Top Holdings Corp. (6) |
|
Healthcare Equipment and Supplies |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
OMNIA Partners, LLC (6) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
OneDigital Borrower LLC (6) |
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Orchid Merger Sub II, LLC (4)(6) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Padagis, LLC (6) |
|
Pharmaceuticals |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
21
Palmer Square Capital BDC Inc.
Consolidated Schedules of Investments
As of December 31, 2023
Portfolio Company(3) |
|
Industry |
|
Interest Rate |
|
Maturity Date |
|
Principal / Par |
|
|
Amortized Cost(1)(5) |
|
|
Fair Value |
|
|
Percentage of Net Assets |
|
||||
Patriot Growth Insurance Services, LLC (7)(10) |
|
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
PECF USS Intermediate Holding III Corporation (7) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Peraton Corp. (7) |
|
Aerospace and Defense |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
PMHC II Inc. (6) |
|
Chemicals |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Prairie ECI Acquiror LP (6) |
|
Oil, Gas and Consumable Fuels |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Pretium PKG Holdings, Inc. |
|
Containers and Packaging |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Pretium PKG Holdings, Inc. (6)(7) |
|
Containers and Packaging |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Project Alpha Intermediate Holding, Inc. (6) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Project Boost Purchaser, LLC (6) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Prometric Holdings, Inc. (6) |
|
Diversified Consumer Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
PS Holdco, LLC (7) |
|
Road and Rail |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
PT Intermediate Holdings III, LLC (7) |
|
Machinery |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
PT Intermediate Holdings III, LLC (7) |
|
Machinery |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
PT Intermediate Holdings III, LLC (7) |
|
Machinery |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
PT Intermediate Holdings III, LLC (7) |
|
Machinery |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
PT Intermediate Holdings III, LLC |
|
Machinery |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Quest Software US Holdings Inc. (6) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Radiology Partners, Inc. (6) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
RC Buyer, Inc. (6) |
|
Auto Components |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
RealPage, Inc. (6) |
|
Real Estate Management and Development |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
RealTruck Group, Inc. |
|
Auto Components |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
RealTruck Group, Inc. (6) |
|
Auto Components |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Red Planet Borrower, LLC (6) |
|
Internet Software and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
22
Palmer Square Capital BDC Inc.
Consolidated Schedules of Investments
As of December 31, 2023
Portfolio Company(3) |
|
Industry |
|
Interest Rate |
|
Maturity Date |
|
Principal / Par |
|
|
Amortized Cost(1)(5) |
|
|
Fair Value |
|
|
Percentage of Net Assets |
|
||||
Redstone Holdco 2 LP (6)(7) |
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Refresco (4)(6) |
|
Food Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Renaissance Holding Corp. (6) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Rocket Software, Inc. (6) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Rohm Holding GMBH (4)(6)(7) |
|
Chemicals |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Runner Buyer Inc. (7) |
|
Household Durables |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Ryan, LLC (7) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Shearer's Foods, LLC (6) |
|
Food Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Simon & Schuster, Inc. (6) |
|
Media |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Sophia, L.P. (6) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Sovos Compliance, LLC (7) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Specialty Building Products Holdings, LLC (6)(7) |
|
Building Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Summer BC Holdco B LLC (4)(7) |
|
Media |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Talen Energy Supply, LLC (4)(6) |
|
Independent Power and Renewable Electricity Producers |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Talen Energy Supply, LLC (4)(6) |
|
Independent Power and Renewable Electricity Producers |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Tank Holding Corp. (11) |
|
Containers and Packaging |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Tank Holding Corp. |
|
Containers and Packaging |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Tank Holding Corp. |
|
Containers and Packaging |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Tecta America Corp. (6)(7) |
|
Construction and Engineering |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
The Edelman Financial Center, LLC (6) |
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
23
Palmer Square Capital BDC Inc.
Consolidated Schedules of Investments
As of December 31, 2023
Portfolio Company(3) |
|
Industry |
|
Interest Rate |
|
Maturity Date |
|
Principal / Par |
|
|
Amortized Cost(1)(5) |
|
|
Fair Value |
|
|
Percentage of Net Assets |
|
||||
Thryv, Inc. (4)(6) |
|
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Titan US Finco, LLC (4)(7) |
|
Media |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Tosca Services, LLC (6) |
|
Containers and Packaging |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Transnetwork, LLC (7) |
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
U.S. Renal Care, Inc. (6)(7) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
UKG Inc. (6) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
US Radiology Specialists, Inc. (6) |
|
Healthcare Providers and Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Veracode (6) |
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
VeriFone Systems, Inc. (6) |
|
Commercial Services and Supplies |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Verscend Holding Corp. (6) |
|
Healthcare Technology |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Vision Solutions, Inc. (6) |
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
Vocus Group DD T/L (4)(6) |
|
Diversified Telecommunication Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
||||||
WarHorse Gaming, LLC |
|
Hotels, Restaurants and Leisure |
|
|||||||||||||||||||