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EXHIBIT 99.2
PENNANTPARK INVESTMENT CORPORATION AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
SEPTEMBER 30, 2023
(In thousands, except share data)
(Unaudited)
Issuer Name |
|
Maturity / Expiration |
|
Industry |
|
Current |
|
|
Basis Point |
|
|
Par / |
|
|
Cost |
|
|
Fair Value (3) |
|
|||||
Investments in Non-Controlled, Non-Affiliated Portfolio Companies—145.6% of Net Assets (1), (2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
First Lien Secured Debt—93.2% of Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
A1 Garage Merger Sub, LLC |
|
12/22/2028 |
|
Personal, Food and Miscellaneous Services |
|
|
11.99 |
% |
|
3M SOFR+660 |
|
|
|
5,144 |
|
|
$ |
5,073 |
|
|
$ |
5,119 |
|
|
A1 Garage Merger Sub, LLC - Unfunded Term Loan |
|
12/21/2024 |
|
Personal, Food and Miscellaneous Services |
|
|
— |
|
|
|
— |
|
|
|
1,788 |
|
|
|
— |
|
|
|
18 |
|
A1 Garage Merger Sub, LLC (Revolver) (7) |
|
12/22/2028 |
|
Personal, Food and Miscellaneous Services |
|
|
— |
|
|
|
— |
|
|
|
2,532 |
|
|
|
— |
|
|
|
(13 |
) |
Ad.net Acquisition, LLC (Revolver) |
|
05/07/2026 |
|
Media |
|
|
11.65 |
% |
|
3M SOFR+626 |
|
|
|
222 |
|
|
|
222 |
|
|
|
221 |
|
|
Ad.net Acquisition, LLC (Revolver) (7) |
|
05/07/2026 |
|
Media |
|
|
— |
|
|
|
— |
|
|
|
222 |
|
|
|
— |
|
|
|
(1 |
) |
Anteriad, LLC (f/k/a MeritDirect, LLC) |
|
05/23/2024 |
|
Media |
|
|
12.04 |
% |
|
3M SOFR+665 |
|
|
|
1,237 |
|
|
|
1,223 |
|
|
|
1,221 |
|
|
Anteriad, LLC (f/k/a MeritDirect, LLC) (Revolver) (7) |
|
05/23/2024 |
|
Media |
|
|
— |
|
|
|
— |
|
|
|
1,612 |
|
|
|
— |
|
|
|
(28 |
) |
Any Hour Services |
|
07/21/2027 |
|
Personal, Food and Miscellaneous Services |
|
|
11.22 |
% |
|
3M SOFR+585 |
|
|
|
3,023 |
|
|
|
3,014 |
|
|
|
2,962 |
|
|
Any Hour Services (Revolver) (7) |
|
07/21/2027 |
|
Personal, Food and Miscellaneous Services |
|
|
— |
|
|
|
— |
|
|
|
1,147 |
|
|
|
— |
|
|
|
(23 |
) |
Apex Service Partners, LLC |
|
07/31/2025 |
|
Personal, Food and Miscellaneous Services |
|
|
10.77 |
% |
|
3M SOFR+525 |
|
|
|
1,330 |
|
|
|
1,330 |
|
|
|
1,327 |
|
|
Apex Service Partners, LLC Term Loan C |
|
07/31/2025 |
|
Personal, Food and Miscellaneous Services |
|
|
10.79 |
% |
|
3M SOFR+525 |
|
|
|
1,863 |
|
|
|
1,850 |
|
|
|
1,859 |
|
|
Apex Service Partners, LLC (Revolver) |
|
07/31/2025 |
|
Personal, Food and Miscellaneous Services |
|
|
10.79 |
% |
|
3M SOFR+525 |
|
|
|
582 |
|
|
|
583 |
|
|
|
581 |
|
|
Apex Service Partners, LLC (Revolver) (7) |
|
07/31/2025 |
|
Personal, Food and Miscellaneous Services |
|
|
— |
|
|
|
— |
|
|
|
350 |
|
|
|
— |
|
|
|
(1 |
) |
Applied Technical Services, LLC |
|
12/29/2026 |
|
Environmental Services |
|
|
11.54 |
% |
|
3M SOFR+615 |
|
|
|
824 |
|
|
|
818 |
|
|
|
808 |
|
|
Applied Technical Services, LLC (Revolver) |
|
12/29/2026 |
|
Environmental Services |
|
|
13.25 |
% |
|
3M SOFR+475 |
|
|
|
400 |
|
|
|
400 |
|
|
|
392 |
|
|
Applied Technical Services, LLC (Revolver) (7) |
|
12/29/2026 |
|
Environmental Services |
|
|
— |
|
|
|
— |
|
|
|
600 |
|
|
|
— |
|
|
|
(12 |
) |
Arcfield Acquisition Corp. (Revolver) |
|
08/03/2029 |
|
Aerospace and Defense |
|
|
11.62 |
% |
|
1M SOFR+615 |
|
|
|
8,090 |
|
|
|
7,970 |
|
|
|
8,009 |
|
|
Arcfield Acquisition Corp. (Revolver) (7) |
|
08/04/2028 |
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
3,521 |
|
|
|
— |
|
|
|
(35 |
) |
Berwick Industrial Park |
|
11/02/2023 |
|
Buildings and Real Estate |
|
|
11.50 |
% |
|
|
— |
|
|
|
4,000 |
|
|
|
4,030 |
|
|
|
3,924 |
|
Beta Plus Technologies, Inc. |
|
07/01/2029 |
|
Business Services |
|
|
11.14 |
% |
|
3M SOFR+575 |
|
|
|
4,950 |
|
|
|
4,869 |
|
|
|
4,604 |
|
|
BioDerm, Inc. (Revolver) |
|
01/31/2028 |
|
Healthcare, Education and Childcare |
|
|
11.81 |
% |
|
1M SOFR+650 |
|
|
|
107 |
|
|
|
107 |
|
|
|
107 |
|
|
BioDerm, Inc. (Revolver) (7) |
|
01/31/2028 |
|
Healthcare, Education and Childcare |
|
|
— |
|
|
|
— |
|
|
|
964 |
|
|
|
— |
|
|
|
(5 |
) |
Blackhawk Industrial Distribution, Inc. |
|
09/17/2026 |
|
Distribution |
|
|
11.79 |
% |
|
3M SOFR+640 |
|
|
|
1,851 |
|
|
|
1,833 |
|
|
|
1,823 |
|
|
Blackhawk Industrial Distribution, Inc.(7) |
|
09/17/2026 |
|
Distribution |
|
|
— |
|
|
|
— |
|
|
|
3,354 |
|
|
|
— |
|
|
|
(34 |
) |
Blackhawk Industrial Distribution, Inc. |
|
09/17/2026 |
|
Distribution |
|
|
11.79 |
% |
|
3M SOFR+640 |
|
|
|
343 |
|
|
|
343 |
|
|
|
338 |
|
|
Blackhawk Industrial Distribution, Inc. (Revolver) (7) |
|
09/17/2026 |
|
Distribution |
|
|
— |
|
|
|
— |
|
|
|
3,089 |
|
|
|
— |
|
|
|
(46 |
) |
Broder Bros., Co. |
|
12/04/2025 |
|
Consumer Products |
|
|
11.65 |
% |
|
3M SOFR+626 |
|
|
|
9,838 |
|
|
|
9,838 |
|
|
|
9,838 |
|
|
Cartessa Aesthetics, LLC |
|
06/14/2028 |
|
Distribution |
|
|
11.39 |
% |
|
3M SOFR+600 |
|
|
|
34,056 |
|
|
|
33,496 |
|
|
|
34,056 |
|
|
Cartessa Aesthetics, LLC - (Revolver) |
|
06/14/2028 |
|
Distribution |
|
|
11.39 |
% |
|
3M SOFR+600 |
|
|
|
1,265 |
|
|
|
1,265 |
|
|
|
1,265 |
|
|
Cartessa Aesthetics, LLC - (Revolver) (7) |
|
06/14/2028 |
|
Distribution |
|
|
— |
|
|
|
— |
|
|
|
2,297 |
|
|
|
— |
|
|
|
— |
|
CF512, Inc. |
|
08/20/2026 |
|
Media |
|
|
11.59 |
% |
|
3M SOFR+600 |
|
|
|
6,592 |
|
|
|
6,524 |
|
|
|
6,460 |
|
|
CF512, Inc.(Revolver) (7) |
|
08/20/2026 |
|
Media |
|
|
— |
|
|
|
— |
|
|
|
909 |
|
|
|
— |
|
|
|
(18 |
) |
Compex Legal Services, Inc. |
|
02/09/2026 |
|
Business Services |
|
|
10.94 |
% |
|
3M SOFR+555 |
|
|
|
949 |
|
|
|
939 |
|
|
|
949 |
|
|
Compex Legal Services, Inc. (Revolver) |
|
02/07/2025 |
|
Business Services |
|
|
10.94 |
% |
|
3M SOFR+555 |
|
|
|
66 |
|
|
|
66 |
|
|
|
66 |
|
|
Compex Legal Services, Inc. (Revolver) (7) |
|
02/07/2025 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
590 |
|
|
|
— |
|
|
|
— |
|
Connatix Buyer, Inc. (Revolver) (7) |
|
07/13/2027 |
|
Media |
|
|
— |
|
|
|
— |
|
|
|
1,875 |
|
|
|
— |
|
|
|
(66 |
) |
Confluent Health, LLC |
|
11/30/2028 |
|
Healthcare, Education and Childcare |
|
|
12.82 |
% |
|
3M SOFR+750 |
|
|
|
1,990 |
|
|
|
1,855 |
|
|
|
2,000 |
|
|
Crane 1 Services, Inc. (Revolver) |
|
08/16/2027 |
|
Personal, Food and Miscellaneous Services |
|
|
10.90 |
% |
|
3M SOFR+551 |
|
|
|
117 |
|
|
|
117 |
|
|
|
116 |
|
|
Crane 1 Services, Inc. (Revolver) (7) |
|
08/16/2027 |
|
Personal, Food and Miscellaneous Services |
|
|
— |
|
|
|
— |
|
|
|
175 |
|
|
|
— |
|
|
|
(1 |
) |
Dr. Squatch, LLC |
|
08/31/2027 |
|
Personal and Non-Durable Consumer Products |
|
|
11.23 |
% |
|
3M SOFR+585 |
|
|
|
8,276 |
|
|
|
8,190 |
|
|
|
8,276 |
|
|
Dr. Squatch, LLC (7) |
|
08/27/2026 |
|
Personal and Non-Durable Consumer Products |
|
|
— |
|
|
|
— |
|
|
|
2,000 |
|
|
|
— |
|
|
|
20 |
|
Dr. Squatch, LLC (Revolver) (7) |
|
08/31/2027 |
|
Personal and Non-Durable Consumer Products |
|
|
— |
|
|
|
— |
|
|
|
2,326 |
|
|
|
— |
|
|
|
— |
|
DRS Holdings III, Inc. |
|
11/03/2025 |
|
Consumer Products |
|
|
11.79 |
% |
|
3M SOFR+640 |
|
|
|
7 |
|
|
|
7 |
|
|
|
7 |
|
|
DRS Holdings III, Inc. (Revolver) (7) |
|
11/03/2025 |
|
Consumer Products |
|
|
— |
|
|
|
— |
|
|
|
1,783 |
|
|
|
— |
|
|
|
(21 |
) |
EDS Buyer, LLC |
|
12/22/2028 |
|
Aerospace and Defense |
|
|
11.64 |
% |
|
3M SOFR+625 |
|
|
|
6,219 |
|
|
|
6,133 |
|
|
|
6,125 |
|
|
EDS Buyer, LLC - Unfunded Term Loan |
|
12/22/2028 |
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
5,625 |
|
|
|
— |
|
|
|
(14 |
) |
EDS Buyer, LLC - (Revolver) (7) |
|
12/22/2028 |
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
1,688 |
|
|
|
— |
|
|
|
(25 |
) |
ETE Intermediate II, LLC (Revolver) (7) |
|
05/25/2029 |
|
Personal, Food and Miscellaneous Services |
|
|
— |
|
|
|
— |
|
|
|
1,656 |
|
|
|
— |
|
|
|
(28 |
) |
Exigo Intermediate II, LLC |
|
03/15/2027 |
|
Business Services |
|
|
11.17 |
% |
|
3M SOFR+585 |
|
|
|
24,375 |
|
|
|
24,097 |
|
|
|
23,888 |
|
|
Exigo Intermediate II, LLC (Revolver) (7) |
|
03/15/2027 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
1,856 |
|
|
|
— |
|
|
|
(37 |
) |
PENNANTPARK INVESTMENT CORPORATION AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
SEPTEMBER 30, 2023
(In thousands, except share data)
(Unaudited)
Issuer Name |
|
Maturity / Expiration |
|
Industry |
|
Current |
|
|
Basis Point |
|
|
Par / |
|
|
Cost |
|
|
Fair Value (3) |
|
|||||
Five Star Buyer, Inc. |
|
02/23/2028 |
|
Leisure, Amusement, Motion Pictures, Entertainment |
|
|
12.42 |
% |
|
3M SOFR+710 |
|
|
|
196 |
|
|
|
196 |
|
|
|
193 |
|
|
Five Star Buyer, Inc. - Unfunded Term Loan |
|
02/23/2028 |
|
Leisure, Amusement, Motion Pictures, Entertainment |
|
|
— |
|
|
|
— |
|
|
|
837 |
|
|
|
— |
|
|
|
(13 |
) |
Five Star Buyer, Inc. (Revolver) (7) |
|
02/23/2028 |
|
Leisure, Amusement, Motion Pictures, Entertainment |
|
|
— |
|
|
|
— |
|
|
|
741 |
|
|
|
— |
|
|
|
(11 |
) |
Gauge ETE Blocker, LLC - Promissory Note |
|
05/19/2029 |
|
Personal, Food and Miscellaneous Services |
|
|
12.56 |
% |
|
|
— |
|
|
|
215 |
|
|
|
215 |
|
|
|
215 |
|
Graffiti Buyer, Inc. |
|
08/10/2027 |
|
Distribution |
|
|
10.98 |
% |
|
3M SOFR+560 |
|
|
|
613 |
|
|
|
608 |
|
|
|
607 |
|
|
Graffiti Buyer, Inc. (7) |
|
12/08/2023 |
|
Distribution |
|
|
— |
|
|
|
— |
|
|
|
276 |
|
|
|
— |
|
|
|
— |
|
Graffiti Buyer, Inc. (Revolver) |
|
08/10/2027 |
|
Distribution |
|
|
11.77 |
% |
|
3M SOFR+560 |
|
|
|
239 |
|
|
|
239 |
|
|
|
237 |
|
|
Graffiti Buyer, Inc. (Revolver) (7) |
|
08/10/2027 |
|
Distribution |
|
|
— |
|
|
|
— |
|
|
|
529 |
|
|
|
— |
|
|
|
(5 |
) |
Hancock Roofing and Construction L.L.C. |
|
12/31/2026 |
|
Insurance |
|
|
10.92 |
% |
|
1M SOFR+550 |
|
|
|
335 |
|
|
|
335 |
|
|
|
327 |
|
|
Hancock Roofing and Construction L.L.C. (Revolver) (7) |
|
12/31/2026 |
|
Insurance |
|
|
— |
|
|
|
— |
|
|
|
415 |
|
|
|
— |
|
|
|
(10 |
) |
Holdco Sands Intermediate, LLC |
|
11/23/2028 |
|
Aerospace and Defense |
|
|
11.32 |
% |
|
6M SOFR+585 |
|
|
|
1,898 |
|
|
|
1,868 |
|
|
|
1,898 |
|
|
Holdco Sands Intermediate, LLC (Revolver) (7) |
|
11/23/2027 |
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
3,941 |
|
|
|
— |
|
|
|
— |
|
HV Watterson Holdings, LLC |
|
12/17/2026 |
|
Business Services |
|
|
11.79 |
% |
|
1M SOFR+625 |
|
|
|
279 |
|
|
|
278 |
|
|
|
279 |
|
|
HV Watterson Holdings, LLC (7) |
|
12/17/2026 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
2,219 |
|
|
|
— |
|
|
|
12 |
|
HV Watterson Holdings, LLC - (Revolver) |
|
12/17/2026 |
|
Business Services |
|
|
11.79 |
% |
|
3M SOFR+625 |
|
|
|
1,200 |
|
|
|
1,200 |
|
|
|
1,198 |
|
|
HV Watterson Holdings, LLC - (Revolver)(7) |
|
12/17/2026 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
50 |
|
|
|
— |
|
|
|
— |
|
HW Holdco, LLC |
|
12/10/2024 |
|
Media |
|
|
11.28 |
% |
|
3M SOFR+640 |
|
|
|
11,237 |
|
|
|
11,167 |
|
|
|
11,069 |
|
|
HW Holdco, LLC (Revolver) |
|
12/10/2024 |
|
Media |
|
|
11.82 |
% |
|
3M SOFR+640 |
|
|
|
271 |
|
|
|
271 |
|
|
|
267 |
|
|
HW Holdco, LLC (Revolver) (7) |
|
12/10/2024 |
|
Media |
|
|
— |
|
|
|
— |
|
|
|
3,116 |
|
|
|
— |
|
|
|
(47 |
) |
IG Investments Holdings, LLC (Revolver) (7) |
|
09/22/2027 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
477 |
|
|
|
— |
|
|
|
(7 |
) |
Imagine Acquisitionco, LLC (7) |
|
11/15/2027 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
2,341 |
|
|
|
— |
|
|
|
(12 |
) |
Imagine Acquisitionco, LLC (Revolver) (7) |
|
11/15/2027 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
1,685 |
|
|
|
— |
|
|
|
(25 |
) |
Inception Fertility Ventures, LLC |
|
12/07/2023 |
|
Healthcare, Education and Childcare |
|
|
12.49 |
% |
|
3M SOFR+715 |
|
|
|
20,300 |
|
|
|
20,100 |
|
|
|
20,300 |
|
|
Infinity Home Services Holdco, Inc. |
|
12/28/2028 |
|
Personal, Food and Miscellaneous Services |
|
|
12.24 |
% |
|
3M SOFR+685 |
|
|
|
2,089 |
|
|
|
2,089 |
|
|
|
2,089 |
|
|
Infinity Home Services Holdco, Inc. - Unfunded Term Loan |
|
12/28/2023 |
|
Personal, Food and Miscellaneous Services |
|
|
— |
|
|
|
— |
|
|
|
1,135 |
|
|
|
— |
|
|
|
— |
|
Infinity Home Services Holdco, Inc.(Revolver) (7) |
|
12/28/2028 |
|
Personal, Food and Miscellaneous Services |
|
|
— |
|
|
|
— |
|
|
|
1,292 |
|
|
|
— |
|
|
|
— |
|
Infolinks Media Buyco, LLC |
|
11/01/2026 |
|
Media |
|
|
11.17 |
% |
|
1M SOFR+585 |
|
|
|
1,420 |
|
|
|
1,416 |
|
|
|
1,420 |
|
|
Infolinks Media Buyco, LLC (7) |
|
11/01/2023 |
|
Media |
|
|
— |
|
|
|
— |
|
|
|
949 |
|
|
|
— |
|
|
|
10 |
|
Integrated Data Services - Term Loan |
|
08/01/2029 |
|
Business Services |
|
|
11.87 |
% |
|
3M SOFR+650 |
|
|
|
15,467 |
|
|
|
15,161 |
|
|
|
15,106 |
|
|
Integrated Data Services - Unfunded Revolver |
|
08/01/2029 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
2,533 |
|
|
|
— |
|
|
|
(59 |
) |
Integrity Marketing Acquisition, LLC |
|
08/27/2026 |
|
Insurance |
|
|
11.41 |
% |
|
3M SOFR+615 |
|
|
|
9,880 |
|
|
|
9,839 |
|
|
|
9,781 |
|
|
Integrity Marketing Acquisition, LLC - Unfunded Term Loan |
|
08/31/2025 |
|
Insurance |
|
|
— |
|
|
|
— |
|
|
|
2,500 |
|
|
|
— |
|
|
|
(13 |
) |
Integrity Marketing Acquisition, LLC (Revolver) (7) |
|
08/31/2025 |
|
Insurance |
|
|
— |
|
|
|
— |
|
|
|
160 |
|
|
|
— |
|
|
|
— |
|
Inventus Power, Inc. |
|
06/30/2025 |
|
Electronics |
|
|
12.93 |
% |
|
1M SOFR+761 |
|
|
|
13,234 |
|
|
|
12,998 |
|
|
|
12,969 |
|
|
Inventus Power, Inc. (Revolver) (7) |
|
06/30/2025 |
|
Electronics |
|
|
— |
|
|
|
— |
|
|
|
1,729 |
|
|
|
— |
|
|
|
(35 |
) |
ITI Holdings, Inc. |
|
03/03/2028 |
|
Business Services |
|
|
11.06 |
% |
|
3M SOFR+615 |
|
|
|
8,838 |
|
|
|
8,718 |
|
|
|
8,661 |
|
|
ITI Holdings, Inc. (Revolver) |
|
03/03/2028 |
|
Business Services |
|
|
10.70 |
% |
|
1M SOFR+560 |
|
|
|
1,121 |
|
|
|
1,121 |
|
|
|
1,098 |
|
|
ITI Holdings, Inc. (Revolver) (7) |
|
03/03/2028 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
370 |
|
|
|
— |
|
|
|
(7 |
) |
K2 Pure Solutions NoCal, L.P. |
|
12/20/2023 |
|
Chemicals, Plastics and Rubber |
|
|
13.42 |
% |
|
1M SOFR+810 |
|
|
|
9,409 |
|
|
|
9,402 |
|
|
|
9,409 |
|
|
K2 Pure Solutions NoCal, L.P. (Revolver) (7) |
|
12/20/2023 |
|
Chemicals, Plastics and Rubber |
|
|
— |
|
|
|
— |
|
|
|
1,938 |
|
|
|
— |
|
|
|
— |
|
Kinetic Purchaser, LLC |
|
11/10/2027 |
|
Consumer Products |
|
|
11.54 |
% |
|
3M SOFR+615 |
|
|
|
9,173 |
|
|
|
8,957 |
|
|
|
9,035 |
|
|
Kinetic Purchaser, LLC (Revolver) (7) |
|
11/10/2026 |
|
Consumer Products |
|
|
— |
|
|
|
— |
|
|
|
4,854 |
|
|
|
— |
|
|
|
(73 |
) |
Lash OpCo, LLC |
|
02/18/2027 |
|
Consumer Products |
|
|
11.88 |
% |
|
1M SOFR+700 |
|
|
|
2,807 |
|
|
|
2,764 |
|
|
|
2,779 |
|
|
Lash OpCo, LLC (Revolver) |
|
08/16/2026 |
|
Consumer Products |
|
|
12.15 |
% |
|
1M SOFR+700 |
|
|
|
1,977 |
|
|
|
1,977 |
|
|
|
1,957 |
|
|
Lash OpCo, LLC (Revolver) (7) |
|
08/16/2026 |
|
Consumer Products |
|
|
— |
|
|
|
— |
|
|
|
935 |
|
|
|
— |
|
|
|
(9 |
) |
LAV Gear Holdings, Inc. |
|
10/31/2024 |
|
Leisure, Amusement, Motion Pictures, Entertainment |
|
|
11.79 |
% |
|
1M SOFR+625 |
|
|
|
51 |
|
|
|
51 |
|
|
|
51 |
|
|
|
|
|
|
|
|
(PIK 5.50%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Ledge Lounger, Inc. |
|
11/09/2026 |
|
Consumer Products |
|
|
11.79 |
% |
|
3M SOFR+625 |
|
|
|
9,085 |
|
|
|
8,964 |
|
|
|
8,971 |
|
|
Ledge Lounger, Inc. (Revolver) (7) |
|
11/09/2026 |
|
Consumer Products |
|
|
— |
|
|
|
— |
|
|
|
1,933 |
|
|
|
— |
|
|
|
(24 |
) |
Lightspeed Buyer Inc. |
|
02/03/2026 |
|
Healthcare, Education and Childcare |
|
|
10.67 |
% |
|
1M SOFR+535 |
|
|
|
2,198 |
|
|
|
2,187 |
|
|
|
2,176 |
|
|
Lightspeed Buyer Inc. (Revolver) (7) |
|
02/03/2026 |
|
Healthcare, Education and Childcare |
|
|
— |
|
|
|
— |
|
|
|
1,166 |
|
|
|
— |
|
|
|
(12 |
) |
LJ Avalon Holdings, LLC |
|
07/31/2024 |
|
Environmental Services |
|
|
11.79 |
% |
|
3M SOFR+640 |
|
|
|
208 |
|
|
|
205 |
|
|
|
204 |
|
|
LJ Avalon Holdings, LLC - Unfunded Term Loan |
|
07/31/2024 |
|
Environmental Services |
|
|
— |
|
|
|
— |
|
|
|
1,260 |
|
|
|
— |
|
|
|
(6 |
) |
LJ Avalon Holdings, LLC (Revolver)(7) |
|
01/31/2030 |
|
Environmental Services |
|
|
— |
|
|
|
— |
|
|
|
587 |
|
|
|
— |
|
|
|
(12 |
) |
LSF9 Atlantis Holdings, LLC |
|
03/31/2029 |
|
Retail |
|
|
12.64 |
% |
|
3M SOFR+725 |
|
|
|
5,625 |
|
|
|
5,436 |
|
|
|
5,381 |
|
|
Loving Tan Intermediate II, Inc. |
|
05/31/2028 |
|
Consumer Products |
|
|
12.39 |
% |
|
3M SOFR+700 |
|
|
|
4,988 |
|
|
|
4,892 |
|
|
|
4,913 |
|
|
Loving Tan Intermediate II, Inc. (Revolver) |
|
05/31/2028 |
|
Consumer Products |
|
|
12.39 |
% |
|
3M SOFR+700 |
|
|
|
347 |
|
|
|
347 |
|
|
|
342 |
|
|
Loving Tan Intermediate II, Inc. (Revolver)(7) |
|
05/31/2028 |
|
Consumer Products |
|
|
— |
|
|
|
— |
|
|
|
284 |
|
|
|
— |
|
|
|
(4 |
) |
Mars Acquisition Holdings Corp. |
|
05/14/2026 |
|
Media |
|
|
11.04 |
% |
|
3M SOFR+565 |
|
|
|
1,835 |
|
|
|
1,807 |
|
|
|
1,817 |
|
|
Mars Acquisition Holdings Corp. (Revolver)(7) |
|
05/14/2026 |
|
Media |
|
|
— |
|
|
|
— |
|
|
|
1,209 |
|
|
|
— |
|
|
|
(12 |
) |
MBS Holdings, Inc. (Revolver) |
|
04/16/2027 |
|
Telecommunications |
|
|
11.17 |
% |
|
1M SOFR+585 |
|
|
|
111 |
|
|
|
111 |
|
|
|
109 |
|
|
MBS Holdings, Inc. (Revolver) (7) |
|
04/16/2027 |
|
Telecommunications |
|
|
— |
|
|
|
— |
|
|
|
583 |
|
|
|
— |
|
|
|
(9 |
) |
MDI Buyer, Inc. |
|
07/25/2028 |
|
Chemicals, Plastics and Rubber |
|
|
11.27 |
% |
|
3M SOFR+600 |
|
|
|
20,135 |
|
|
|
19,835 |
|
|
|
19,685 |
|
|
MDI Buyer, Inc. (Revolver) |
|
07/25/2028 |
|
Chemicals, Plastics and Rubber |
|
|
10.92 |
% |
|
3M SOFR+600 |
|
|
|
1,039 |
|
|
|
1,039 |
|
|
|
1,016 |
|
|
MDI Buyer, Inc. (Revolver) (7) |
|
07/25/2028 |
|
Chemicals, Plastics and Rubber |
|
|
— |
|
|
|
— |
|
|
|
1,188 |
|
|
|
— |
|
|
|
(15 |
) |
Meadowlark Acquirer, LLC |
|
12/10/2027 |
|
Business Services |
|
|
10.66 |
% |
|
3M SOFR+550 |
|
|
|
1,937 |
|
|
|
1,919 |
|
|
|
1,888 |
|
|
Meadowlark Acquirer, LLC Term Loan I |
|
12/10/2027 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
1,038 |
|
|
|
— |
|
|
|
(16 |
) |
Meadowlark Acquirer, LLC Term Loan II |
|
12/10/2027 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
8,922 |
|
|
|
— |
|
|
|
(134 |
) |
Meadowlark Acquirer, LLC (Revolver) (7) |
|
12/10/2027 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
1,685 |
|
|
|
— |
|
|
|
(43 |
) |
PENNANTPARK INVESTMENT CORPORATION AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
SEPTEMBER 30, 2023
(In thousands, except share data)
(Unaudited)
Issuer Name |
|
Maturity / Expiration |
|
Industry |
|
Current |
|
|
Basis Point |
|
|
Par / |
|
|
Cost |
|
|
Fair Value (3) |
|
|||||
Municipal Emergency Services, Inc. |
|
09/28/2027 |
|
Distribution |
|
|
11.05 |
% |
|
3M SOFR+565 |
|
|
|
484 |
|
|
$ |
484 |
|
|
$ |
474 |
|
|
Municipal Emergency Services, Inc. - Unfunded Term Loan A |
|
06/16/2023 |
|
Distribution |
|
|
— |
|
|
|
— |
|
|
|
769 |
|
|
|
— |
|
|
|
(17 |
) |
Municipal Emergency Services, Inc. - Unfunded Term Loan B |
|
12/16/2024 |
|
Distribution |
|
|
— |
|
|
|
— |
|
|
|
2,510 |
|
|
|
— |
|
|
|
(55 |
) |
Municipal Emergency Services, Inc. (Revolver) |
|
09/28/2027 |
|
Distribution |
|
|
11.04 |
% |
|
3M SOFR+565 |
|
|
|
752 |
|
|
|
752 |
|
|
|
736 |
|
|
Municipal Emergency Services, Inc. (Revolver) (7) |
|
09/28/2027 |
|
Distribution |
|
|
— |
|
|
|
— |
|
|
|
1,128 |
|
|
|
— |
|
|
|
(25 |
) |
NBH Group LLC (Revolver) (7) |
|
08/19/2026 |
|
Healthcare, Education and Childcare |
|
|
— |
|
|
|
— |
|
|
|
1,163 |
|
|
|
— |
|
|
|
(23 |
) |
Neptune Flood Incorporated (Revolver) (7) |
|
05/09/2029 |
|
Insurance |
|
|
— |
|
|
|
— |
|
|
|
541 |
|
|
|
— |
|
|
|
— |
|
NORA Acquisition, LLC |
|
08/31/2029 |
|
Healthcare, Education and Childcare |
|
|
11.74 |
% |
|
3M SOFR+635 |
|
|
|
20,500 |
|
|
|
20,092 |
|
|
|
20,090 |
|
|
NORA Acquisition, LLC (Revolver) (7) |
|
08/31/2029 |
|
Healthcare, Education and Childcare |
|
|
— |
|
|
|
— |
|
|
|
2,707 |
|
|
|
— |
|
|
|
(54 |
) |
ORL Acquisition, Inc. |
|
09/03/2027 |
|
Business Services |
|
|
12.84 |
% |
|
3M SOFR+725 |
|
|
|
4,409 |
|
|
|
4,347 |
|
|
|
4,012 |
|
|
ORL Acquisition, Inc. (Revolver) (7) |
|
09/03/2027 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
597 |
|
|
|
— |
|
|
|
(54 |
) |
Ox Two, LLC |
|
05/18/2026 |
|
Building Materials |
|
|
12.90 |
% |
|
1M SOFR+725 |
|
|
|
13,578 |
|
|
|
13,445 |
|
|
|
13,340 |
|
|
Ox Two, LLC (Revolver) (7) |
|
05/18/2026 |
|
Building Materials |
|
|
— |
|
|
|
— |
|
|
|
2,419 |
|
|
|
— |
|
|
|
(42 |
) |
Pequod Merger Sub, Inc. - Unfunded Term Loan |
|
12/02/2026 |
|
Financial Services |
|
|
— |
|
|
|
— |
|
|
|
2,847 |
|
|
|
— |
|
|
|
(57 |
) |
Pequod Merger Sub, Inc. (Revolver) (7) |
|
12/02/2026 |
|
Financial Services |
|
|
— |
|
|
|
— |
|
|
|
757 |
|
|
|
— |
|
|
|
(15 |
) |
PL Acquisitionco, LLC (Revolver) (7) |
|
11/09/2027 |
|
Retail |
|
|
— |
|
|
|
— |
|
|
|
3,236 |
|
|
|
— |
|
|
|
(324 |
) |
Pragmatic Institute, LLC |
|
07/06/2028 |
|
Business Services |
|
|
11.17 |
% |
|
3M SOFR+575 |
|
|
|
34,987 |
|
|
|
34,547 |
|
|
|
33,412 |
|
|
Pragmatic Institute, LLC Unfunded Term Loan |
|
07/06/2028 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
7,193 |
|
|
|
— |
|
|
|
(252 |
) |
Pragmatic Institute, LL (Revolver) |
|
07/06/2028 |
|
Business Services |
|
|
11.17 |
% |
|
3M SOFR+575 |
|
|
|
4,795 |
|
|
|
4,795 |
|
|
|
4,579 |
|
|
Quantic Electronics, LLC |
|
11/19/2026 |
|
Aerospace and Defense |
|
|
11.74 |
% |
|
3M SOFR+635 |
|
|
|
1,484 |
|
|
|
1,474 |
|
|
|
1,461 |
|
|
Quantic Electronics, LLC (Revolver) |
|
11/19/2026 |
|
Aerospace and Defense |
|
|
11.74 |
% |
|
3M SOFR+635 |
|
|
|
528 |
|
|
|
528 |
|
|
|
521 |
|
|
Questex, LLC |
|
09/09/2024 |
|
Media |
|
|
9.81 |
% |
|
3M SOFR+425 |
|
|
|
20,193 |
|
|
|
20,115 |
|
|
|
20,193 |
|
|
Questex, LLC (Revolver) (7) |
|
09/09/2024 |
|
Media |
|
|
— |
|
|
|
— |
|
|
|
3,590 |
|
|
|
— |
|
|
|
— |
|
Radius Aerospace, Inc. (Revolver) |
|
03/31/2025 |
|
Aerospace and Defense |
|
|
11.29 |
% |
|
3M SOFR+575 |
|
|
|
668 |
|
|
|
668 |
|
|
|
661 |
|
|
Radius Aerospace, Inc. (Revolver) (7) |
|
03/31/2025 |
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
1,559 |
|
|
|
— |
|
|
|
(16 |
) |
Rancho Health MSO, Inc. (7) |
|
12/18/2025 |
|
Healthcare, Education and Childcare |
|
|
11.22 |
% |
|
3M SOFR+575 |
|
|
|
79 |
|
|
|
79 |
|
|
|
79 |
|
|
Rancho Health MSO, Inc. - Unfunded Term Loan |
|
12/18/2025 |
|
Healthcare, Education and Childcare |
|
|
— |
|
|
|
— |
|
|
|
494 |
|
|
|
— |
|
|
|
— |
|
Rancho Health MSO, Inc. (Revolver) |
|
12/18/2025 |
|
Healthcare, Education and Childcare |
|
|
11.24 |
% |
|
3M SOFR+575 |
|
|
|
210 |
|
|
|
210 |
|
|
|
210 |
|
|
Rancho Health MSO, Inc. (Revolver) (7) |
|
12/18/2025 |
|
Healthcare, Education and Childcare |
|
|
— |
|
|
|
— |
|
|
|
315 |
|
|
|
— |
|
|
|
— |
|
Reception Purchaser, LLC |
|
02/28/2028 |
|
Transportation |
|
|
11.54 |
% |
|
3M SOFR+615 |
|
|
|
5,863 |
|
|
|
5,791 |
|
|
|
5,628 |
|
|
Recteq, LLC (Revolver) (7) |
|
01/29/2026 |
|
Consumer Products |
|
|
— |
|
|
|
— |
|
|
|
1,127 |
|
|
|
— |
|
|
|
(34 |
) |
Research Now Group, Inc. and Dynata, LLC |
|
12/20/2024 |
|
Business Services |
|
|
11.13 |
% |
|
3M SOFR+576 |
|
|
|
124 |
|
|
|
124 |
|
|
|
108 |
|
|
Riverpoint Medical, LLC (Revolver) |
|
06/20/2025 |
|
Healthcare, Education and Childcare |
|
|
10.42 |
% |
|
3M SOFR+510 |
|
|
|
45 |
|
|
|
45 |
|
|
|
45 |
|
|
Riverpoint Medical, LLC (Revolver) (7) |
|
06/20/2025 |
|
Healthcare, Education and Childcare |
|
|
— |
|
|
|
— |
|
|
|
318 |
|
|
|
— |
|
|
|
(4 |
) |
Riverside Assessments, LLC |
|
03/10/2025 |
|
Education |
|
|
11.24 |
% |
|
3M SOFR+575 |
|
|
|
11,699 |
|
|
|
11,588 |
|
|
|
11,582 |
|
|
Rural Sourcing Holdings, Inc. - Unfunded Term Loan |
|
06/15/2029 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
1,146 |
|
|
|
— |
|
|
|
— |
|
Rural Sourcing Holdings, Inc. (Revolver) (7) |
|
06/15/2029 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
861 |
|
|
|
— |
|
|
|
(13 |
) |
Sales Benchmark Index LLC (Revolver) (7) |
|
01/03/2025 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
732 |
|
|
|
— |
|
|
|
(4 |
) |
Sargent & Greenleaf Inc. (Revolver) |
|
12/20/2024 |
|
Electronics |
|
|
12.92 |
% |
|
1M SOFR+650 |
|
|
|
158 |
|
|
|
158 |
|
|
|
157 |
|
|
Sargent & Greenleaf Inc. (Revolver) (7) |
|
12/20/2024 |
|
Electronics |
|
|
— |
|
|
|
— |
|
|
|
453 |
|
|
|
— |
|
|
|
(5 |
) |
Schlesinger Global, Inc. |
|
07/14/2025 |
|
Business Services |
|
|
13.15 |
% |
|
3M SOFR+775 |
|
|
|
4,647 |
|
|
|
4,611 |
|
|
|
4,496 |
|
|
Schlesinger Global, Inc. (Revolver) |
|
07/14/2025 |
|
Business Services |
|
|
12.52 |
% |
|
3M SOFR+775 |
|
|
|
30 |
|
|
|
30 |
|
|
|
29 |
|
|
|
|
|
|
|
|
(PIK 0.5%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Schlesinger Global, Inc. (Revolver)(7) |
|
07/14/2025 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
8 |
|
|
|
— |
|
|
|
— |
|
Seaway Buyer, LLC |
|
06/13/2029 |
|
Chemicals, Plastics and Rubber |
|
|
11.54 |
% |
|
3M SOFR+605 |
|
|
|
4,752 |
|
|
|
4,691 |
|
|
|
4,609 |
|
|
Seaway Buyer, LLC (Revolver) |
|
06/13/2029 |
|
Chemicals, Plastics and Rubber |
|
|
11.54 |
% |
|
3M SOFR+605 |
|
|
|
729 |
|
|
|
729 |
|
|
|
708 |
|
|
Seaway Buyer, LLC (Revolver)(7) |
|
06/13/2029 |
|
Chemicals, Plastics and Rubber |
|
|
— |
|
|
|
— |
|
|
|
2,397 |
|
|
|
— |
|
|
|
(72 |
) |
Shiftkey, LLC |
|
06/21/2027 |
|
Business Services |
|
|
11.40 |
% |
|
3M SOFR+601 |
|
|
|
17,775 |
|
|
|
17,636 |
|
|
|
17,331 |
|
|
Sigma Defense Systems, LLC |
|
12/18/2025 |
|
Telecommunications |
|
|
14.04 |
% |
|
3M SOFR+865 |
|
|
|
29,681 |
|
|
|
29,190 |
|
|
|
29,236 |
|
|
Sigma Defense Systems, LLC (Revolver) |
|
12/18/2025 |
|
Telecommunications |
|
|
14.04 |
% |
|
3M SOFR+865 |
|
|
|
2,083 |
|
|
|
2,083 |
|
|
|
2,052 |
|
|
Sigma Defense Systems, LLC (Revolver) (7) |
|
12/18/2025 |
|
Telecommunications |
|
|
— |
|
|
|
— |
|
|
|
893 |
|
|
|
— |
|
|
|
(13 |
) |
Signature Systems Holding Company (Revolver) (7) |
|
05/03/2024 |
|
Chemicals, Plastics and Rubber |
|
|
— |
|
|
|
— |
|
|
|
2,016 |
|
|
|
— |
|
|
|
— |
|
Solutionreach, Inc. (Revolver) (7) |
|
07/17/2025 |
|
Communications |
|
|
— |
|
|
|
— |
|
|
|
1,665 |
|
|
|
— |
|
|
|
(7 |
) |
Spendmend Holdings LLC |
|
03/01/2028 |
|
Business Services |
|
|
11.04 |
% |
|
1M SOFR+565 |
|
|
|
99 |
|
|
|
99 |
|
|
|
97 |
|
|
Spendmend Holdings LLC (7) |
|
03/01/2028 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
2,684 |
|
|
|
— |
|
|
|
(39 |
) |
Spendmend Holdings LLC - Funded Revolver |
|
03/01/2028 |
|
Business Services |
|
|
11.20 |
% |
|
1M SOFR+565 |
|
|
|
561 |
|
|
|
561 |
|
|
|
548 |
|
|
Spendmend Holdings LLC - Unfunded Revolver (7) |
|
03/01/2028 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
841 |
|
|
|
— |
|
|
|
(18 |
) |
System Planning and Analysis, Inc. - (Revolver) (7) |
|
08/16/2027 |
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
2,925 |
|
|
|
— |
|
|
|
(32 |
) |
The Aegis Technologies Group, LLC |
|
10/31/2025 |
|
Aerospace and Defense |
|
|
11.66 |
% |
|
3M SOFR+665 |
|
|
|
1,121 |
|
|
|
1,097 |
|
|
|
1,104 |
|
|
The Bluebird Group LLC |
|
07/27/2026 |
|
Business Services |
|
|
12.79 |
% |
|
3M SOFR+740 |
|
|
|
2,271 |
|
|
|
2,239 |
|
|
|
2,262 |
|
|
The Bluebird Group LLC (Revolver) (7) |
|
07/27/2026 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
734 |
|
|
|
— |
|
|
|
(3 |
) |
The Vertex Companies, LLC |
|
08/30/2027 |
|
Business Services |
|
|
11.93 |
% |
|
1M SOFR+635 |
|
|
|
186 |
|
|
|
182 |
|
|
|
185 |
|
|
The Vertex Companies, LLC (Revolver) |
|
08/30/2027 |
|
Business Services |
|
|
11.67 |
% |
|
1M SOFR+635 |
|
|
|
248 |
|
|
|
248 |
|
|
|
246 |
|
|
The Vertex Companies, LLC (Revolver) (7) |
|
08/30/2027 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
492 |
|
|
|
— |
|
|
|
(4 |
) |
TWS Acquisition Corporation (Revolver) (7) |
|
06/16/2025 |
|
Education |
|
|
— |
|
|
|
— |
|
|
|
1,644 |
|
|
|
— |
|
|
|
— |
|
Tyto Athene, LLC (Revolver) (7) |
|
04/01/2026 |
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
364 |
|
|
|
— |
|
|
|
(32 |
) |
Urology Management Holdings, Inc. - Unfunded Term Loan |
|
02/01/2024 |
|
Healthcare, Education and Childcare |
|
|
— |
|
|
|
— |
|
|
|
7,222 |
|
|
|
— |
|
|
|
(150 |
) |
Wildcat Buyerco, Inc. |
|
02/27/2026 |
|
Electronics |
|
|
10.57 |
% |
|
3M SOFR+515 |
|
|
|
3,805 |
|
|
|
3,762 |
|
|
|
3,767 |
|
|
Wildcat Buyerco, Inc. (Revolver) |
|
02/27/2026 |
|
Electronics |
|
|
10.17 |
% |
|
3M SOFR+585 |
|
|
|
88 |
|
|
|
88 |
|
|
|
87 |
|
|
Wildcat Buyerco, Inc. (Revolver) (7) |
|
02/27/2026 |
|
Electronics |
|
|
— |
|
|
|
— |
|
|
|
486 |
|
|
|
— |
|
|
|
(5 |
) |
Zips Car Wash, LLC |
|
03/01/2024 |
|
Auto Sector |
|
|
12.67 |
% |
|
1M SOFR+735 |
|
|
|
2,589 |
|
|
|
2,583 |
|
|
|
2,504 |
|
|
Total First Lien Secured Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
472,975 |
|
|
|
468,007 |
|
|||
Second Lien Secured Debt—16.0% of Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
PENNANTPARK INVESTMENT CORPORATION AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
SEPTEMBER 30, 2023
(In thousands, except share data)
(Unaudited)
Issuer Name |
|
Maturity / Expiration |
|
|
Industry |
|
Current |
|
|
Basis Point |
|
|
Par / |
|
|
Cost |
|
|
Fair Value (3) |
|
||||||
Ascensus Holdings, Inc. |
|
08/02/2028 |
|
|
Financial Services |
|
|
12.03 |
% |
|
3M SOFR+676 |
|
|
|
3,000 |
|
|
$ |
2,717 |
|
|
$ |
2,837 |
|
||
Atlas Purchaser, Inc |
|
05/07/2029 |
|
|
Telecommunications |
|
|
14.66 |
% |
|
3M SOFR+900 |
|
|
|
17,000 |
|
|
|
16,600 |
|
|
|
13,821 |
|
||
Best Practice Associates LLC |
|
06/29/2027 |
|
|
Aerospace and Defense |
|
|
14.54 |
% |
|
3M SOFR+915 |
|
|
|
17,825 |
|
|
|
17,559 |
|
|
|
17,469 |
|
||
Burgess Point Purchaser Corporation |
|
07/28/2030 |
|
|
Auto Sector |
|
|
14.42 |
% |
|
1M SOFR+910 |
|
|
|
8,000 |
|
|
|
7,680 |
|
|
|
7,920 |
|
||
ENC Parent Corporation |
|
08/19/2029 |
|
|
Business Services |
|
|
13.15 |
% |
|
3M SOFR+776 |
|
|
|
7,500 |
|
|
|
7,440 |
|
|
|
6,675 |
|
||
Halo Buyer, Inc. |
|
07/06/2026 |
|
|
Consumer Products |
|
|
13.67 |
% |
|
1M SOFR+835 |
|
|
|
32,500 |
|
|
|
32,232 |
|
|
|
31,525 |
|
||
QuantiTech LLC |
|
02/04/2027 |
|
|
Aerospace and Defense |
|
|
11.74 |
% |
|
3M SOFR+635 |
|
|
|
150 |
|
|
|
148 |
|
|
|
149 |
|
||
Total Second Lien Secured Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
84,376 |
|
|
|
80,396 |
|
||||
Subordinated Debt/Corporate Notes—10.7% of Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Express Wash Acquisition Company, LLC |
|
01/15/2029 |
|
|
Auto Sector |
|
|
15.15 |
% |
|
3M SOFR+976 |
|
|
|
22,219 |
|
|
|
21,568 |
|
|
|
21,597 |
|
||
Flock Financial, LLC |
|
05/26/2027 |
|
|
Financial Services |
|
|
14.50 |
% |
|
|
— |
|
|
|
34,000 |
|
|
|
33,329 |
|
|
|
32,300 |
|
|
Total Subordinated Debt/Corporate Notes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
54,897 |
|
|
|
53,897 |
|
||||
Preferred Equity/Partnership Interests—2.6% of Net Assets (6) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Ad.net Holdings, Inc. |
|
|
— |
|
|
Media |
|
|
— |
|
|
|
— |
|
|
|
2,400 |
|
|
|
240 |
|
|
|
271 |
|
AH Newco Equityholdings, LLC |
|
|
— |
|
|
Healthcare, Education and Childcare |
|
|
6.00 |
% |
|
|
— |
|
|
|
211 |
|
|
|
500 |
|
|
|
1,066 |
|
Anteriad Holdings, LP (f/k/a MeritDirect Holdings, LP) (9) |
|
|
— |
|
|
Media |
|
|
— |
|
|
|
— |
|
|
|
1,135 |
|
|
|
1,135 |
|
|
|
918 |
|
Cartessa Aesthetics, LLC |
|
|
— |
|
|
Distribution |
|
|
— |
|
|
|
— |
|
|
|
3,562,500 |
|
|
|
3,563 |
|
|
|
4,975 |
|
Gauge Lash Coinvest, LLC - Preferred Equity |
|
|
— |
|
|
Consumer Products |
|
|
— |
|
|
|
— |
|
|
|
64,967 |
|
|
|
351 |
|
|
|
789 |
|
Gauge Schlesinger Coinvest, LLC - Class A-2 Preferred Equity |
|
|
— |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
1 |
|
|
|
1 |
|
|
|
1 |
|
Imagine Topco, LP |
|
|
— |
|
|
Business Services |
|
|
8.00 |
% |
|
|
— |
|
|
|
743,826 |
|
|
|
744 |
|
|
|
750 |
|
Magnolia Topco LP - Class A Preferred Equity |
|
|
— |
|
|
Auto Sector |
|
|
— |
|
|
|
— |
|
|
|
169 |
|
|
|
169 |
|
|
|
172 |
|
Magnolia Topco LP - Class B Preferred Equity |
|
|
— |
|
|
Auto Sector |
|
|
— |
|
|
|
— |
|
|
|
929 |
|
|
|
554 |
|
|
|
794 |
|
Mars Intermediate Holdings II, Inc (9) |
|
|
— |
|
|
Media |
|
|
— |
|
|
|
— |
|
|
|
414 |
|
|
|
414 |
|
|
|
551 |
|
NXOF Holdings, Inc. (Tyto Athene, LLC) |
|
|
— |
|
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
160 |
|
|
|
160 |
|
|
|
107 |
|
ORL Holdco, Inc. |
|
|
— |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
575 |
|
|
|
57 |
|
|
|
— |
|
PL Acquisitionco, LLC - Preferred Equity |
|
|
— |
|
|
Retail |
|
|
— |
|
|
|
— |
|
|
|
37 |
|
|
|
37 |
|
|
|
39 |
|
Signature CR Intermediate Holdco, Inc. |
|
|
— |
|
|
Chemicals, Plastics and Rubber |
|
|
12.00 |
% |
|
|
— |
|
|
|
1,527 |
|
|
|
1,527 |
|
|
|
2,490 |
|
TPC Holding Company, LP (8),(11) |
|
|
— |
|
|
Food |
|
|
— |
|
|
|
— |
|
|
|
219 |
|
|
|
219 |
|
|
|
320 |
|
TWD Parent Holdings, LLC |
|
|
— |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
30 |
|
|
|
30 |
|
|
|
37 |
|
(The Vertex Companies, LLC) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Total Preferred Equity/Partnership Interests |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,701 |
|
|
|
13,280 |
|
||||
Common Equity/Partnership Interests/Warrants—23.0% of Net Assets (6) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
A1 Garage Equity, LLC |
|
|
— |
|
|
Personal, Food and Miscellaneous Services |
|
|
— |
|
|
|
— |
|
|
|
2,193,038 |
|
|
|
2,193 |
|
|
|
2,340 |
|
Ad.net Holdings, Inc. |
|
|
— |
|
|
Media |
|
|
— |
|
|
|
— |
|
|
|
2,667 |
|
|
|
27 |
|
|
|
— |
|
Affinion Group Holdings, Inc. (Warrants) |
|
04/10/2024 |
|
|
Consumer Products |
|
|
— |
|
|
|
— |
|
|
|
77,190 |
|
|
|
2,126 |
|
|
|
— |
|
|
AG Investco LP (9) |
|
|
— |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
805,164 |
|
|
|
805 |
|
|
|
1,074 |
|
AG Investco LP (7), (9) |
|
|
— |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
194,836 |
|
|
|
— |
|
|
|
— |
|
Altamira Intermediate Company II, Inc. |
|
|
— |
|
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
125,000 |
|
|
|
125 |
|
|
|
127 |
|
AMCSI Crash Co-Invest, LP |
|
|
— |
|
|
Auto Sector |
|
|
— |
|
|
|
— |
|
|
|
2,489,777 |
|
|
|
2,490 |
|
|
|
3,318 |
|
AMCSI Crash Co-Invest, LP (7) |
|
|
— |
|
|
Auto Sector |
|
|
— |
|
|
|
— |
|
|
|
510,223 |
|
|
|
— |
|
|
|
— |
|
Anteriad Holdings, LP (f/k/a MeritDirect Holdings, LP) (9) |
|
|
— |
|
|
Media |
|
|
— |
|
|
|
— |
|
|
|
1,135 |
|
|
|
— |
|
|
|
— |
|
Athletico Holdings, LLC (9) |
|
|
— |
|
|
Healthcare, Education and Childcare |
|
|
— |
|
|
|
— |
|
|
|
9,357 |
|
|
|
10,000 |
|
|
|
9,032 |
|
Atlas Investment Aggregator, LLC |
|
|
— |
|
|
Telecommunications |
|
|
— |
|
|
|
— |
|
|
|
1,700,000 |
|
|
|
1,613 |
|
|
|
293 |
|
BioDerm, Inc. |
|
|
— |
|
|
Healthcare, Education and Childcare |
|
|
— |
|
|
|
— |
|
|
|
1,312 |
|
|
|
1,312 |
|
|
|
1,513 |
|
Burgess Point Holdings, LP |
|
|
— |
|
|
Auto Sector |
|
|
— |
|
|
|
— |
|
|
|
680 |
|
|
|
680 |
|
|
|
740 |
|
Connatix Parent, LLC |
|
|
— |
|
|
Media |
|
|
— |
|
|
|
— |
|
|
|
57,416 |
|
|
|
632 |
|
|
|
333 |
|
Cowboy Parent LLC |
|
|
— |
|
|
Distribution |
|
|
— |
|
|
|
— |
|
|
|
27,778 |
|
|
|
3,015 |
|
|
|
5,451 |
|
(Blackhawk Industrial Distribution, Inc.) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Crane 1 Acquisition Parent Holdings, L.P. |
|
|
— |
|
|
Personal, Food and Miscellaneous Services |
|
|
— |
|
|
|
— |
|
|
|
113 |
|
|
|
104 |
|
|
|
173 |
|
Delta InvestCo LP |
|
|
— |
|
|
Telecommunications |
|
|
— |
|
|
|
— |
|
|
|
863,299 |
|
|
|
848 |
|
|
|
1,542 |
|
(Sigma Defense Systems, LLC) (9) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Delta InvestCo LP (7) |
|
|
— |
|
|
Telecommunications |
|
|
— |
|
|
|
— |
|
|
|
277,745 |
|
|
|
— |
|
|
|
— |
|
(Sigma Defense Systems, LLC) (7), (9) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
eCommission Holding Corporation (11) |
|
|
— |
|
|
Financial Services |
|
|
— |
|
|
|
— |
|
|
|
80 |
|
|
|
1,005 |
|
|
|
1,854 |
|
EDS Topco, LP |
|
|
— |
|
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
937,500 |
|
|
|
938 |
|
|
|
885 |
|
Exigo, LLC (9) |
|
|
— |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
1,458,333 |
|
|
|
1,458 |
|
|
|
1,648 |
|
FedHC InvestCo LP (9) |
|
|
— |
|
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
14,578 |
|
|
|
489 |
|
|
|
2,060 |
|
FedHC InvestCo LP (7),(9) |
|
|
— |
|
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
5,150 |
|
|
|
— |
|
|
|
— |
|
FedHC InvestCo II LP (9) |
|
|
— |
|
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
20,882 |
|
|
|
2,175 |
|
|
|
2,951 |
|
Five Star Parent Holdings, LLC |
|
|
— |
|
|
Leisure, Amusement, Motion Pictures, Entertainment |
|
|
— |
|
|
|
— |
|
|
|
655,714 |
|
|
|
656 |
|
|
|
800 |
|
Gauge ETE Blocker, LLC - Common Equity |
|
|
— |
|
|
Personal, Food and Miscellaneous Services |
|
|
— |
|
|
|
— |
|
|
|
374,444 |
|
|
|
374 |
|
|
|
371 |
|
Gauge Lash Coinvest LLC |
|
|
— |
|
|
Consumer Products |
|
|
— |
|
|
|
— |
|
|
|
889,376 |
|
|
|
136 |
|
|
|
4,076 |
|
Gauge Loving Tan, LP - Common Equity |
|
|
— |
|
|
Consumer Products |
|
|
— |
|
|
|
— |
|
|
|
462,827 |
|
|
|
463 |
|
|
|
389 |
|
Gauge Schlesinger Coinvest, LLC |
|
|
— |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
9 |
|
|
|
10 |
|
|
|
7 |
|
Gauge TVC Coinvest, LLC |
|
|
— |
|
|
Transportation |
|
|
— |
|
|
|
— |
|
|
|
810,645 |
|
|
|
— |
|
|
|
2,390 |
|
(TVC Enterprises, LLC) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
PENNANTPARK INVESTMENT CORPORATION AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
SEPTEMBER 30, 2023
(In thousands, except share data)
(Unaudited)
Issuer Name |
|
Maturity / Expiration |
|
|
Industry |
|
Current |
|
|
Basis Point |
|
|
Par / |
|
|
Cost |
|
|
Fair Value (3) |
|
||||||
GCOM InvestCo LP |
|
|
— |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
2,434 |
|
|
$ |
1,003 |
|
|
$ |
401 |
|
Go Dawgs Capital III, LP |
|
|
— |
|
|
Building Materials |
|
|
— |
|
|
|
— |
|
|
|
675,325 |
|
|
|
675 |
|
|
|
1,479 |
|
(American Insulated Glass, LLC) (9) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Hancock Claims Consultants Investors, LLC (9) |
|
|
— |
|
|
Insurance |
|
|
— |
|
|
|
— |
|
|
|
450,000 |
|
|
|
450 |
|
|
|
338 |
|
HPA SPQ Aggregator LP- Common Equity |
|
|
— |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
750,399 |
|
|
|
750 |
|
|
|
751 |
|
HV Watterson Holdings, LLC |
|
|
— |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
1,600,000 |
|
|
|
1,600 |
|
|
|
1,778 |
|
Icon Partners V C, L.P. |
|
|
— |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
1,118,318 |
|
|
|
1,118 |
|
|
|
1,002 |
|
Icon Partners V C, L.P. (7),(9) |
|
|
— |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
381,682 |
|
|
|
— |
|
|
|
(40 |
) |
IHS Parent Holdngs, L.P. |
|
|
|
|
Personal, Food and Miscellaneous Services |
|
|
|
|
|
|
|
|
1,218,045 |
|
|
|
1,218 |
|
|
|
1,642 |
|
|||
Imagine Topco, LP |
|
|
— |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
743,826 |
|
|
|
— |
|
|
|
— |
|
Infogroup Parent Holdings, Inc. |
|
|
— |
|
|
Other Media |
|
|
— |
|
|
|
— |
|
|
|
181,495 |
|
|
|
2,040 |
|
|
|
2,327 |
|
(Data Axle, Inc.) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Ironclad Holdco, LLC |
|
|
— |
|
|
Environmental Services |
|
|
— |
|
|
|
— |
|
|
|
4,566 |
|
|
|
450 |
|
|
|
663 |
|
(Applied Technical Services, LLC) (9) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
ITC Infusion Co-invest, LP(9) |
|
|
— |
|
|
Healthcare, Education and Childcare |
|
|
— |
|
|
|
— |
|
|
|
162,445 |
|
|
|
1,624 |
|
|
|
1,775 |
|
ITC Rumba, LLC |
|
|
— |
|
|
Healthcare, Education and Childcare |
|
|
— |
|
|
|
— |
|
|
|
375,675 |
|
|
|
8 |
|
|
|
1,158 |
|
(Cano Health, LLC) (9) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Kentucky Racing Holdco, LLC (Warrants)(9) |
|
|
— |
|
|
Hotels, Motels, Inns and Gaming |
|
|
— |
|
|
|
— |
|
|
|
161,252 |
|
|
|
— |
|
|
|
1,630 |
|
Kinetic Purchaser, LLC |
|
|
— |
|
|
Consumer Products |
|
|
— |
|
|
|
— |
|
|
|
1,308,814 |
|
|
|
1,309 |
|
|
|
1,892 |
|
KL Stockton Co-Invest LP |
|
|
— |
|
|
Personal, Food and Miscellaneous Services |
|
|
— |
|
|
|
— |
|
|
|
382,353 |
|
|
|
382 |
|
|
|
775 |
|
(Any Hour Services) (9) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Lariat ecoserv Co-Invest Holdings, LLC (9) |
|
|
— |
|
|
Environmental Services |
|
|
— |
|
|
|
— |
|
|
|
363,656 |
|
|
|
— |
|
|
|
22 |
|
LEP Pequod Holdings, LP |
|
|
— |
|
|
Financial Services |
|
|
— |
|
|
|
— |
|
|
|
350 |
|
|
|
865 |
|
|
|
1,006 |
|
Lightspeed Investment Holdco LLC |
|
|
— |
|
|
Healthcare, Education and Childcare |
|
|
— |
|
|
|
— |
|
|
|
273,143 |
|
|
|
273 |
|
|
|
741 |
|
LJ Avalon, LP |
|
|
— |
|
|
Environmental Services |
|
|
— |
|
|
|
— |
|
|
|
851,087 |
|
|
|
851 |
|
|
|
902 |
|
Lorient Peregrine Investments, LP |
|
|
— |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
335,590 |
|
|
|
4,530 |
|
|
|
4,452 |
|
Magnolia Topco LP - Class A Common Equity |
|
|
— |
|
|
Auto Sector |
|
|
— |
|
|
|
— |
|
|
|
169,230 |
|
|
|
— |
|
|
|
— |
|
Magnolia Topco LP - Class B Common Equity |
|
|
— |
|
|
Auto Sector |
|
|
— |
|
|
|
— |
|
|
|
929,200 |
|
|
|
— |
|
|
|
— |
|
Mars Intermidiate Holdings II, Inc. (9) |
|
|
— |
|
|
Media |
|
|
— |
|
|
|
— |
|
|
|
414 |
|
|
|
— |
|
|
|
232 |
|
MDI Aggregator, LP |
|
|
— |
|
|
Chemicals, Plastics and Rubber |
|
|
— |
|
|
|
— |
|
|
|
30,993 |
|
|
|
3,103 |
|
|
|
3,326 |
|
Meadowlark Title, LLC (9) |
|
|
— |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
815,385 |
|
|
|
802 |
|
|
|
— |
|
Municipal Emergency Services, Inc. |
|
|
— |
|
|
Distribution |
|
|
— |
|
|
|
— |
|
|
|
3,920,145 |
|
|
|
3,984 |
|
|
|
4,430 |
|
NEPRT Parent Holdings, LLC |
|
|
— |
|
|
Consumer Products |
|
|
— |
|
|
|
— |
|
|
|
1,299 |
|
|
|
1,259 |
|
|
|
88 |
|
(Recteq, LLC) (9) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
NORA Parent Holdings, LLC |
|
|
— |
|
|
Healthcare, Education and Childcare |
|
|
— |
|
|
|
— |
|
|
|
1,257 |
|
|
|
1,257 |
|
|
|
1,257 |
|
North Haven Saints Equity Holdings, LP(9) |
|
|
— |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
351,553 |
|
|
|
352 |
|
|
|
351 |
|
NXOF Holdings, Inc. |
|
|
— |
|
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
3,261 |
|
|
|
3 |
|
|
|
— |
|
(Tyto Athene, LLC) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
OceanSound Discovery Equity, LP |
|
|
— |
|
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
98,286 |
|
|
|
913 |
|
|
|
2,133 |
|
(Holdco Sands Intermediate, LLC) (9) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
OHCP V BC COI, L.P. |
|
|
— |
|
|
Distribution |
|
|
— |
|
|
|
— |
|
|
|
446,250 |
|
|
|
446 |
|
|
|
390 |
|
OHCP V BC COI, L.P. (7),(9) |
|
|
— |
|
|
Distribution |
|
|
— |
|
|
|
— |
|
|
|
303,750 |
|
|
|
— |
|
|
|
(38 |
) |
ORL Holdco, Inc. |
|
|
— |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
638 |
|
|
|
6 |
|
|
|
— |
|
PennantPark-TSO Senior Loan Fund II, LP |
|
|
— |
|
|
Financial Services |
|
|
— |
|
|
|
— |
|
|
|
12,269,640 |
|
|
|
12,270 |
|
|
|
12,485 |
|
Pink Lily Holdco, LLC (9) |
|
|
— |
|
|
Retail |
|
|
— |
|
|
|
— |
|
|
|
1,044 |
|
|
|
1,044 |
|
|
|
33 |
|
Pragmatic Institute, LLC |
|
|
— |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
1,918,047 |
|
|
|
1,918 |
|
|
|
747 |
|
Quad (U.S.) Co-Invest, L.P. |
|
|
— |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
2,958,706 |
|
|
|
2,959 |
|
|
|
3,461 |
|
QuantiTech InvestCo LP (9) |
|
|
— |
|
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
712 |
|
|
|
68 |
|
|
|
446 |
|
QuantiTech InvestCo LP (7),(9) |
|
|
— |
|
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
955 |
|
|
|
— |
|
|
|
— |
|
QuantiTech InvestCo II LP (9) |
|
|
— |
|
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
40 |
|
|
|
24 |
|
|
|
26 |
|
RFMG Parent, LP |
|
|
— |
|
|
Healthcare, Education and Childcare |
|
|
— |
|
|
|
— |
|
|
|
1,050,000 |
|
|
|
1,050 |
|
|
|
1,052 |
|
(Rancho Health MSO, Inc.) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
SBI Holdings Investments LLC |
|
|
— |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
36,585 |
|
|
|
366 |
|
|
|
291 |
|
(Sales Benchmark Index LLC) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Seaway Topco, LP |
|
|
— |
|
|
Chemicals, Plastics and Rubber |
|
|
— |
|
|
|
— |
|
|
|
2,981 |
|
|
|
2,981 |
|
|
|
2,372 |
|
Signature CR Intermediate Holdco, Inc. |
|
|
— |
|
|
Chemicals, Plastics and Rubber |
|
|
— |
|
|
|
— |
|
|
|
80 |
|
|
|
80 |
|
|
|
2,059 |
|
SP L2 Holdings, LLC |
|
|
— |
|
|
Consumer Products |
|
|
— |
|
|
|
— |
|
|
|
881,966 |
|
|
|
882 |
|
|
|
604 |
|
SSC Dominion Holdings, LLC |
|
|
— |
|
|
Electronics |
|
|
— |
|
|
|
— |
|
|
|
71 |
|
|
|
71 |
|
|
|
3,295 |
|
Class B (US Dominion, Inc.) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
StellPen Holdings, LLC |
|
|
— |
|
|
Media |
|
|
— |
|
|
|
— |
|
|
|
153,846 |
|
|
|
154 |
|
|
|
169 |
|
(CF512, Inc.) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
TAC LifePort Holdings, LLC (9) |
|
|
— |
|
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
254,206 |
|
|
|
250 |
|
|
|
405 |
|
Tower Arch Infolinks Media, LP (9) |
|
|
— |
|
|
Media |
|
|
— |
|
|
|
— |
|
|
|
536,514 |
|
|
|
504 |
|
|
|
951 |
|
Tower Arch Infolinks Media, LP (7), (9) |
|
|
— |
|
|
Media |
|
|
— |
|
|
|
— |
|
|
|
358,931 |
|
|
|
— |
|
|
|
— |
|
TPC Holding Company, LP (8). (11) |
|
|
— |
|
|
Food |
|
|
— |
|
|
|
— |
|
|
|
11,527 |
|
|
|
12 |
|
|
|
113 |
|
TWD Parent Holdings, LLC |
|
|
— |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
608 |
|
|
|
1 |
|
|
|
1 |
|
(The Vertex Companies, LLC) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
PENNANTPARK INVESTMENT CORPORATION AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
SEPTEMBER 30, 2023
(In thousands, except share data)
(Unaudited)
Issuer Name |
|
Maturity / Expiration |
|
|
Industry |
|
Current |
|
|
Basis Point |
|
|
Par / |
|
|
Cost |
|
|
Fair Value (3) |
|
||||||
UniVista Insurance (9) |
|
|
— |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
400 |
|
|
$ |
362 |
|
|
$ |
555 |
|
Urology Partners Co., L.P. |
|
|
— |
|
|
Healthcare, Education and Childcare |
|
|
— |
|
|
|
— |
|
|
|
1,111,111 |
|
|
|
1,111 |
|
|
|
1,044 |
|
WCP Ivyrehab QP CF Feeder, LP |
|
|
— |
|
|
Healthcare, Education and Childcare |
|
|
— |
|
|
|
— |
|
|
|
3,715,012 |
|
|
|
3,754 |
|
|
|
4,319 |
|
WCP Ivyrehab QP CF Feeder, LP - Unfunded (7) |
|
|
— |
|
|
Healthcare, Education and Childcare |
|
|
— |
|
|
|
— |
|
|
|
284,988 |
|
|
|
— |
|
|
|
— |
|
Wildcat Parent, LP |
|
|
— |
|
|
Electronics |
|
|
— |
|
|
|
— |
|
|
|
2,314 |
|
|
|
231 |
|
|
|
820 |
|
(Wildcat Buyerco, Inc.) (9) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Total Common Equity/Partnership Interests/Warrants |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
95,037 |
|
|
|
115,478 |
|
||||
Total Investments in Non-Controlled, Non-Affiliated Portfolio Companies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
716,986 |
|
|
|
731,058 |
|
||||
Investments in Non-Controlled, Affiliated Portfolio Companies—10.9% of Net Assets (1), (2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
First Lien Secured Debt—2.1% of Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Walker Edison Furniture Company LLC |
|
03/31/2027 |
|
|
Home and Office Furnishings |
|
|
12.18 |
% |
|
1M SOFR+685 |
|
|
|
7,042 |
|
|
|
7,042 |
|
|
|
7,043 |
|
||
Walker Edison Furniture Company, LLC - Unfunded Term Loan |
|
03/31/2027 |
|
|
Home and Office Furnishings |
|
|
— |
|
|
|
— |
|
|
|
667 |
|
|
|
— |
|
|
|
— |
|
|
Walker Edison Furniture Company LLC - Junior Revolver |
|
03/31/2027 |
|
|
Home and Office Furnishings |
|
|
11.68 |
% |
|
1M SOFR+685 |
|
|
|
3,333 |
|
|
|
3,333 |
|
|
|
3,333 |
|
||
Total First Lien Secured Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,375 |
|
|
|
10,376 |
|
||||
Preferred Equity/Partnership Interests—6.4% of Net Assets(6) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Cascade Environmental Holdings, LLC (9) |
|
|
— |
|
|
Environmental Services |
|
|
— |
|
|
|
— |
|
|
|
5,887,236 |
|
|
|
32,791 |
|
|
|
31,032 |
|
Cascade Environmental Holdings, LLC - Series B |
|
|
— |
|
|
Environmental Services |
|
|
— |
|
|
|
— |
|
|
|
918 |
|
|
|
918 |
|
|
|
1,073 |
|
Total Preferred Equity/Partnership Interests |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
33,709 |
|
|
|
32,105 |
|
||||
Common Equity/Partnership Interests/Warrants—2.4% of Net Assets (6) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Cascade Environmental Holdings, LLC |
|
|
— |
|
|
Environmental Services |
|
|
— |
|
|
|
— |
|
|
|
7,444,347 |
|
|
|
2,852 |
|
|
|
— |
|
JF Intermediate, LLC |
|
|
— |
|
|
Distribution |
|
|
— |
|
|
|
— |
|
|
|
19,687 |
|
|
|
2,065 |
|
|
|
8,759 |
|
Walker Edison Furniture |
|
|
— |
|
|
Home and Office Furnishings |
|
|
— |
|
|
|
— |
|
|
|
72,917 |
|
|
|
6,786 |
|
|
|
3,531 |
|
Total Common Equity/Partnership Interests/Warrants |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,703 |
|
|
|
12,290 |
|
||||
Total Investments in Non-Controlled, Affiliated Portfolio Companies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
55,787 |
|
|
|
54,771 |
|
||||
Investments in Controlled, Affiliated Portfolio Companies—43.0% of Net Assets (1), (2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
First Lien Secured Debt—9.8% of Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
AKW Holdings Limited (8), (10), (11) |
|
03/15/2027 |
|
|
Healthcare, Education and Childcare |
|
|
12.21 |
% |
|
3M SONIA+700 |
|
|
£ |
40,371 |
|
|
|
55,388 |
|
|
|
49,275 |
|
||
Total First Lien Secured Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
55,388 |
|
|
|
49,275 |
|
||||
Second Lien Secured Debt—0.0% of Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Mailsouth Inc. (6) |
|
04/23/2025 |
|
|
Printing and Publishing |
|
|
— |
|
|
|
— |
|
|
|
14,896 |
|
|
|
12,383 |
|
|
|
— |
|
|
Total Second Lien Secured Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12,383 |
|
|
|
— |
|
||||
Subordinated Debt—20.4% of Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
PennantPark Senior Loan Fund, LLC (11) |
|
07/31/2027 |
|
|
Financial Services |
|
|
13.37 |
% |
|
3M SOFR+800 |
|
|
|
102,325 |
|
|
|
102,325 |
|
|
|
102,325 |
|
||
Total Subordinated Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
102,325 |
|
|
|
102,325 |
|
||||
Common Equity—12.8% of Net Assets (6) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
AKW Holdings Limited (8), (10), (11) |
|
|
— |
|
|
Healthcare, Education and Childcare |
|
|
— |
|
|
|
— |
|
|
£ |
950 |
|
|
|
132 |
|
|
|
2,385 |
|
MSpark, LLC |
|
|
— |
|
|
Printing and Publishing |
|
|
— |
|
|
|
— |
|
|
|
51,151 |
|
|
|
16,516 |
|
|
|
— |
|
PennantPark Senior Loan Fund, LLC |
|
|
— |
|
|
Financial Services |
|
|
— |
|
|
|
— |
|
|
|
58,580,060 |
|
|
|
58,643 |
|
|
|
62,083 |
|
Total Common Equity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
75,291 |
|
|
|
64,468 |
|
||||
Total Investments in Controlled, Affiliated Portfolio Companies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
245,387 |
|
|
|
216,068 |
|
||||
Total Investments—199.5% of Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,018,160 |
|
|
|
1,001,897 |
|
||||
Cash and Cash Equivalents—26.8% of Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
BlackRock Federal FD Institutional 30 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
24,683 |
|
|
|
24,683 |
|
||||
U.S. Treasury Bill (5) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
99,768 |
|
|
|
99,751 |
|
||||
Non-Money Market Cash |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,003 |
|
|
|
9,993 |
|
||||
Total Cash and Cash Equivalents |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
134,454 |
|
|
|
134,427 |
|
||||
Total Investments and Cash Equivalents—226.3% of Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,152,614 |
|
|
$ |
1,136,324 |
|
||||
Liabilities in Excess of Other Assets—(126.3%) of Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(634,137 |
) |
|||||
Net Assets—100.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
502,187 |
|
|||||
PENNANTPARK INVESTMENT CORPORATION AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
SEPTEMBER 30, 2022
(In thousands, except share data)
Issuer Name |
|
Maturity / Expiration |
|
Industry |
|
Current |
|
|
Basis Point |
|
|
Par / |
|
|
Cost |
|
|
Fair Value (3) |
|
|||||
Investments in Non-Controlled, Non-Affiliated Portfolio Companies—159.2% of Net Assets (1), (2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
First Lien Secured Debt—100.5% of Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Ad.net Acquisition, LLC (Revolver) (7) |
|
05/06/2026 |
|
Media |
|
|
— |
|
|
|
— |
|
|
|
444 |
|
|
$ |
— |
|
|
$ |
(3 |
) |
Altamira Technologies, LLC (Revolver) |
|
07/24/2025 |
|
Aerospace and Defense |
|
|
11.67 |
% |
|
3M L+800 |
|
|
|
50 |
|
|
|
50 |
|
|
|
48 |
|
|
Altamira Technologies, LLC (Revolver) (7) |
|
07/24/2025 |
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
138 |
|
|
|
— |
|
|
|
(5 |
) |
American Insulated Glass, LLC |
|
12/21/2023 |
|
Building Materials |
|
|
7.79 |
% |
|
3M L+550 |
|
|
|
3,329 |
|
|
|
3,310 |
|
|
|
3,329 |
|
|
Anteriad, LLC (f/k/a MeritDirect, LLC) (Revolver) (7) |
|
05/23/2024 |
|
Media |
|
|
— |
|
|
|
— |
|
|
|
1,612 |
|
|
|
— |
|
|
|
— |
|
Any Hour Services |
|
07/21/2027 |
|
Personal, Food and Miscellaneous Services |
|
|
8.15 |
% |
|
3M L+525 |
|
|
|
4,120 |
|
|
|
4,086 |
|
|
|
4,038 |
|
|
Any Hour Services (Revolver) (7) |
|
07/21/2027 |
|
Personal, Food and Miscellaneous Services |
|
|
— |
|
|
|
— |
|
|
|
1,147 |
|
|
|
— |
|
|
|
(23 |
) |
Apex Service Partners, LLC |
|
07/31/2025 |
|
Personal, Food and Miscellaneous Services |
|
|
7.60 |
% |
|
1M L+550 |
|
|
|
1,331 |
|
|
|
1,331 |
|
|
|
1,324 |
|
|
Apex Service Partners, LLC Term Loan C |
|
07/31/2025 |
|
Personal, Food and Miscellaneous Services |
|
|
9.08 |
% |
|
1M L+550 |
|
|
|
1,893 |
|
|
|
1,873 |
|
|
|
1,883 |
|
|
Apex Service Partners, LLC (Revolver) |
|
07/31/2025 |
|
Personal, Food and Miscellaneous Services |
|
|
6.72 |
% |
|
3M L+525 |
|
|
|
62 |
|
|
|
62 |
|
|
|
62 |
|
|
Apex Service Partners, LLC (Revolver) (7) |
|
07/31/2025 |
|
Personal, Food and Miscellaneous Services |
|
|
— |
|
|
|
— |
|
|
|
870 |
|
|
|
— |
|
|
|
(4 |
) |
Applied Technical Services, LLC |
|
12/29/2026 |
|
Environmental Services |
|
|
7.59 |
% |
|
3M L+575 |
|
|
|
1,402 |
|
|
|
1,388 |
|
|
|
1,367 |
|
|
Applied Technical Services, LLC (7) |
|
04/21/2023 |
|
Environmental Services |
|
|
— |
|
|
|
— |
|
|
|
1,595 |
|
|
|
— |
|
|
|
(22 |
) |
Applied Technical Services, LLC (Revolver) |
|
12/29/2026 |
|
Environmental Services |
|
|
10.25 |
% |
|
3M P+475 |
|
|
|
200 |
|
|
|
200 |
|
|
|
195 |
|
|
Applied Technical Services, LLC (Revolver) (7) |
|
12/29/2026 |
|
Environmental Services |
|
|
— |
|
|
|
— |
|
|
|
800 |
|
|
|
— |
|
|
|
(20 |
) |
Arcfield Acquisition Corp. (Revolver) (7) |
|
03/07/2028 |
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
2,263 |
|
|
|
— |
|
|
|
(45 |
) |
Berwick Industrial Park |
|
04/28/2023 |
|
Buildings and Real Estate |
|
|
11.00 |
% |
|
|
— |
|
|
|
4,000 |
|
|
|
3,953 |
|
|
|
3,934 |
|
Beta Plus Technologies, Inc. |
|
07/01/2029 |
|
Business Services |
|
|
7.56 |
% |
|
SOFR+525 |
|
|
|
5,000 |
|
|
|
4,904 |
|
|
|
4,900 |
|
|
Blackhawk Industrial Distribution, Inc. |
|
09/17/2024 |
|
Distribution |
|
|
8.69 |
% |
|
3M L+500 |
|
|
|
1,175 |
|
|
|
1,160 |
|
|
|
1,149 |
|
|
Blackhawk Industrial Distribution, Inc.(7) |
|
09/17/2024 |
|
Distribution |
|
|
— |
|
|
|
— |
|
|
|
4,043 |
|
|
|
— |
|
|
|
(51 |
) |
Blackhawk Industrial Distribution, Inc. (Revolver) |
|
09/17/2024 |
|
Distribution |
|
|
8.69 |
% |
|
3M L+500 |
|
|
|
686 |
|
|
|
686 |
|
|
|
667 |
|
|
Blackhawk Industrial Distribution, Inc. (Revolver) (7) |
|
09/17/2024 |
|
Distribution |
|
|
— |
|
|
|
— |
|
|
|
2,746 |
|
|
|
— |
|
|
|
(77 |
) |
Broder Bros., Co. |
|
12/02/2022 |
|
Consumer Products |
|
|
7.39 |
% |
|
3M L+600 |
|
|
|
10,096 |
|
|
|
10,096 |
|
|
|
10,096 |
|
|
Cartessa Aesthetics, LLC |
|
05/13/2028 |
|
Distribution |
|
|
9.55 |
% |
|
1M L+600 |
|
|
|
39,401 |
|
|
|
38,644 |
|
|
|
38,810 |
|
|
Cartessa Aesthetics, LLC - (Revolver) |
|
05/13/2028 |
|
Distribution |
|
|
9.55 |
% |
|
1M L+600 |
|
|
|
1,265 |
|
|
|
1,265 |
|
|
|
1,246 |
|
|
Cartessa Aesthetics, LLC - (Revolver) (7) |
|
05/13/2028 |
|
Distribution |
|
|
— |
|
|
|
— |
|
|
|
2,297 |
|
|
|
— |
|
|
|
(34 |
) |
CF512, Inc. |
|
08/20/2026 |
|
Media |
|
|
9.30 |
% |
|
3M L+600 |
|
|
|
6,720 |
|
|
|
6,630 |
|
|
|
6,619 |
|
|
CF512, Inc.(Revolver) (7) |
|
08/20/2026 |
|
Media |
|
|
— |
|
|
|
— |
|
|
|
909 |
|
|
|
— |
|
|
|
(14 |
) |
Compex Legal Services, Inc. |
|
02/09/2026 |
|
Business Services |
|
|
7.48 |
% |
|
3M L+525 |
|
|
|
853 |
|
|
|
843 |
|
|
|
853 |
|
|
Compex Legal Services, Inc. (Revolver) |
|
02/07/2025 |
|
Business Services |
|
|
8.92 |
% |
|
3M L+525 |
|
|
|
361 |
|
|
|
361 |
|
|
|
361 |
|
|
Compex Legal Services, Inc. (Revolver) (7) |
|
02/07/2025 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
295 |
|
|
|
— |
|
|
|
— |
|
Connatix Buyer, Inc. (7) |
|
01/13/2023 |
|
Media |
|
|
— |
|
|
|
— |
|
|
|
3,158 |
|
|
|
— |
|
|
|
(47 |
) |
Connatix Buyer, Inc. (Revolver) (7) |
|
07/13/2027 |
|
Media |
|
|
— |
|
|
|
— |
|
|
|
1,859 |
|
|
|
— |
|
|
|
(46 |
) |
Crane 1 Services, Inc. |
|
08/16/2027 |
|
Personal, Food and Miscellaneous Services |
|
|
8.40 |
% |
|
3M L+575 |
|
|
|
2,606 |
|
|
|
2,577 |
|
|
|
2,580 |
|
|
Crane 1 Services, Inc. (Revolver) |
|
08/16/2027 |
|
Personal, Food and Miscellaneous Services |
|
|
8.87 |
% |
|
1M L+575 |
|
|
|
194 |
|
|
|
194 |
|
|
|
192 |
|
|
Crane 1 Services, Inc. (Revolver) (7) |
|
08/16/2027 |
|
Personal, Food and Miscellaneous Services |
|
|
— |
|
|
|
— |
|
|
|
97 |
|
|
|
— |
|
|
|
(1 |
) |
DermaRite Industries LLC |
|
06/30/2023 |
|
Manufacturing / Basic Industries |
|
|
10.67 |
% |
|
1M L+700 |
|
|
|
8,755 |
|
|
|
8,734 |
|
|
|
7,030 |
|
|
Dr. Squatch, LLC |
|
08/31/2027 |
|
Personal and Non-Durable Consumer Products |
|
|
9.17 |
% |
|
3M L+600 |
|
|
|
12,930 |
|
|
|
12,742 |
|
|
|
12,736 |
|
|
Dr. Squatch, LLC (7) |
|
08/27/2026 |
|
Personal and Non-Durable Consumer Products |
|
|
— |
|
|
|
— |
|
|
|
2,000 |
|
|
|
— |
|
|
|
(10 |
) |
Dr. Squatch, LLC (Revolver) |
|
08/31/2027 |
|
Personal and Non-Durable Consumer Products |
|
|
8.95 |
% |
|
1M L+600 |
|
|
|
775 |
|
|
|
775 |
|
|
|
764 |
|
|
Dr. Squatch, LLC (Revolver) (7) |
|
08/31/2027 |
|
Personal and Non-Durable Consumer Products |
|
|
— |
|
|
|
— |
|
|
|
1,551 |
|
|
|
— |
|
|
|
(23 |
) |
DRS Holdings III, Inc. (Revolver) (7) |
|
11/03/2025 |
|
Consumer Products |
|
|
— |
|
|
|
— |
|
|
|
1,783 |
|
|
|
— |
|
|
|
(57 |
) |
ECL Entertainment, LLC |
|
05/01/2028 |
|
Hotels, Motels, Inns and Gaming |
|
|
10.62 |
% |
|
1M L+750 |
|
|
|
19,156 |
|
|
|
19,019 |
|
|
|
18,869 |
|
|
ECM Industries, LLC (Revolver) |
|
12/23/2025 |
|
Electronics |
|
|
7.93 |
% |
|
3M L+475 |
|
|
|
291 |
|
|
|
291 |
|
|
|
277 |
|
|
ECM Industries, LLC (Revolver) (7) |
|
12/23/2025 |
|
Electronics |
|
|
— |
|
|
|
— |
|
|
|
226 |
|
|
|
— |
|
|
|
(11 |
) |
Exigo Intermediate II, LLC |
|
03/15/2027 |
|
Business Services |
|
|
8.87 |
% |
|
3M L+575 |
|
|
|
24,875 |
|
|
|
24,532 |
|
|
|
24,315 |
|
|
Exigo Intermediate II, LLC (7) |
|
03/15/2024 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
7,424 |
|
|
|
— |
|
|
|
(111 |
) |
Exigo Intermediate II, LLC (Revolver) |
|
03/15/2027 |
|
Business Services |
|
|
8.87 |
% |
|
3M L+575 |
|
|
|
371 |
|
|
|
371 |
|
|
|
363 |
|
|
Exigo Intermediate II, LLC (Revolver) (7) |
|
03/15/2027 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
1,485 |
|
|
|
— |
|
|
|
(33 |
) |
Fairbanks Morse Defense |
|
06/17/2028 |
|
Aerospace and Defense |
|
|
7.00 |
% |
|
3M L+475 |
|
|
|
738 |
|
|
|
735 |
|
|
|
682 |
|
|
Gantech Acquisition Corp. |
|
05/14/2026 |
|
Business Services |
|
|
9.37 |
% |
|
1M L+625 |
|
|
|
16,809 |
|
|
|
16,548 |
|
|
|
16,305 |
|
|
Gantech Acquisition Corp. (Revolver) |
|
05/14/2026 |
|
Business Services |
|
|
9.37 |
% |
|
1M L+625 |
|
|
|
132 |
|
|
|
133 |
|
|
|
129 |
|
|
Gantech Acquisition Corp. (Revolver) (7) |
|
05/14/2026 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
1,858 |
|
|
|
— |
|
|
|
(56 |
) |
Graffiti Buyer, Inc. (7) |
|
08/10/2023 |
|
Distribution |
|
|
— |
|
|
|
— |
|
|
|
892 |
|
|
|
— |
|
|
|
(20 |
) |
Graffiti Buyer, Inc. (Revolver) |
|
08/10/2027 |
|
Distribution |
|
|
9.16 |
% |
|
3M L+575 |
|
|
|
372 |
|
|
|
372 |
|
|
|
357 |
|
|
Graffiti Buyer, Inc. (Revolver) (7) |
|
08/10/2027 |
|
Distribution |
|
|
— |
|
|
|
— |
|
|
|
397 |
|
|
|
— |
|
|
|
(16 |
) |
Hancock Roofing and Construction L.L.C. (7) |
|
12/31/2022 |
|
Insurance |
|
|
— |
|
|
|
— |
|
|
|
400 |
|
|
|
— |
|
|
|
(6 |
) |
Hancock Roofing and Construction L.L.C. |
|
12/31/2026 |
|
Insurance |
|
|
7.82 |
% |
|
1M L+500 |
|
|
|
270 |
|
|
|
270 |
|
|
|
266 |
|
|
Hancock Roofing and Construction L.L.C. (Revolver) (7) |
|
12/31/2026 |
|
Insurance |
|
|
— |
|
|
|
— |
|
|
|
480 |
|
|
|
— |
|
|
|
(7 |
) |
Holdco Sands Intermediate, LLC |
|
11/23/2028 |
|
Aerospace and Defense |
|
|
10.17 |
% |
|
3M L+600 |
|
|
|
1,918 |
|
|
|
1,883 |
|
|
|
1,879 |
|
|
Holdco Sands Intermediate, LLC (Revolver) (7) |
|
11/23/2027 |
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
3,941 |
|
|
|
— |
|
|
|
(79 |
) |
PENNANTPARK INVESTMENT CORPORATION AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
SEPTEMBER 30, 2022
(In thousands, except share data)
Issuer Name |
|
Maturity / Expiration |
|
Industry |
|
Current |
|
|
Basis Point |
|
|
Par / |
|
|
Cost |
|
|
Fair Value (3) |
|
|||||
HV Watterson Holdings, LLC |
|
12/17/2026 |
|
Business Services |
|
|
9.67 |
% |
|
1M L+600 |
|
|
|
281 |
|
|
$ |
279 |
|
|
$ |
271 |
|
|
HV Watterson Holdings, LLC (7) |
|
12/17/2026 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
2,219 |
|
|
|
— |
|
|
|
(61 |
) |
HV Watterson Holdings, LLC - (Revolver) |
|
12/17/2026 |
|
Business Services |
|
|
9.63 |
% |
|
3M L+600 |
|
|
|
200 |
|
|
|
200 |
|
|
|
193 |
|
|
HV Watterson Holdings, LLC - (Revolver)(7) |
|
12/17/2026 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
1,050 |
|
|
|
— |
|
|
|
(37 |
) |
HW Holdco, LLC |
|
12/10/2024 |
|
Media |
|
|
6.00 |
% |
|
3M L+500 |
|
|
|
10,188 |
|
|
|
10,077 |
|
|
|
10,061 |
|
|
HW Holdco, LLC (7) |
|
12/10/2024 |
|
Media |
|
|
— |
|
|
|
— |
|
|
|
3,049 |
|
|
|
— |
|
|
|
(8 |
) |
HW Holdco, LLC (Revolver) (7) |
|
12/10/2024 |
|
Media |
|
|
— |
|
|
|
— |
|
|
|
3,387 |
|
|
|
— |
|
|
|
(42 |
) |
Icon Partners III, LP |
|
05/11/2028 |
|
Auto Sector |
|
|
7.55 |
% |
|
3M L+475 |
|
|
|
995 |
|
|
|
834 |
|
|
|
727 |
|
|
IDC Infusion Services, Inc. |
|
12/30/2026 |
|
Healthcare, Education and Childcare |
|
|
10.70 |
% |
|
3M L+600 |
|
|
|
3,685 |
|
|
|
3,576 |
|
|
|
3,574 |
|
|
IDC Infusion Services, Inc. (Revolver) (7) |
|
12/30/2026 |
|
Healthcare, Education and Childcare |
|
|
— |
|
|
|
— |
|
|
|
4,167 |
|
|
|
— |
|
|
|
(187 |
) |
IG Investments Holdings, LLC (Revolver) (7) |
|
09/22/2027 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
477 |
|
|
|
— |
|
|
|
(5 |
) |
Imagine Acquisitionco, LLC (7) |
|
11/15/2027 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
2,341 |
|
|
|
— |
|
|
|
(35 |
) |
Imagine Acquisitionco, LLC (Revolver) (7) |
|
11/15/2027 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
1,685 |
|
|
|
— |
|
|
|
(42 |
) |
Inception Fertility Ventures, LLC |
|
12/07/2023 |
|
Healthcare, Education and Childcare |
|
|
10.18 |
% |
|
3M L+715 |
|
|
|
20,506 |
|
|
|
20,239 |
|
|
|
20,301 |
|
|
Infolinks Media Buyco, LLC (7) |
|
11/01/2023 |
|
Media |
|
|
— |
|
|
|
— |
|
|
|
2,372 |
|
|
|
— |
|
|
|
24 |
|
Integrity Marketing Acquisition, LLC |
|
08/27/2025 |
|
Insurance |
|
|
7.83 |
% |
|
3M L+550 |
|
|
|
9,930 |
|
|
|
9,876 |
|
|
|
9,831 |
|
|
ITI Holdings, Inc. |
|
03/03/2028 |
|
Business Services |
|
|
8.67 |
% |
|
3M L+550 |
|
|
|
8,927 |
|
|
|
8,784 |
|
|
|
8,749 |
|
|
ITI Holdings, Inc. (Revolver) |
|
03/03/2028 |
|
Business Services |
|
|
8.25 |
% |
|
3M L+550 |
|
|
|
298 |
|
|
|
298 |
|
|
|
292 |
|
|
ITI Holdings, Inc. (Revolver) (7) |
|
03/03/2028 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
1,192 |
|
|
|
— |
|
|
|
(24 |
) |
K2 Pure Solutions NoCal, L.P. |
|
12/20/2023 |
|
Chemicals, Plastics and Rubber |
|
|
11.12 |
% |
|
1M L+800 |
|
|
|
11,678 |
|
|
|
11,629 |
|
|
|
11,678 |
|
|
K2 Pure Solutions NoCal, L.P. (Revolver) (7) |
|
12/20/2023 |
|
Chemicals, Plastics and Rubber |
|
|
— |
|
|
|
— |
|
|
|
1,938 |
|
|
|
— |
|
|
|
— |
|
Kinetic Purchaser, LLC |
|
11/10/2027 |
|
Consumer Products |
|
|
9.67 |
% |
|
3M L+600 |
|
|
|
24,341 |
|
|
|
23,807 |
|
|
|
23,855 |
|
|
Kinetic Purchaser, LLC (Revolver) |
|
11/10/2026 |
|
Consumer Products |
|
|
9.67 |
% |
|
3M L+600 |
|
|
|
4,854 |
|
|
|
4,854 |
|
|
|
4,757 |
|
|
Lash OpCo, LLC |
|
02/18/2027 |
|
Consumer Products |
|
|
11.78 |
% |
|
1M L+700 |
|
|
|
2,828 |
|
|
|
2,774 |
|
|
|
2,771 |
|
|
Lash OpCo, LLC (Revolver) |
|
08/16/2026 |
|
Consumer Products |
|
|
9.38 |
% |
|
1M L+700 |
|
|
|
568 |
|
|
|
568 |
|
|
|
556 |
|
|
Lash OpCo, LLC (Revolver) (7) |
|
08/16/2026 |
|
Consumer Products |
|
|
— |
|
|
|
— |
|
|
|
1,252 |
|
|
|
— |
|
|
|
(25 |
) |
LAV Gear Holdings, Inc. |
|
10/31/2024 |
|
Leisure, Amusement, Motion Pictures, Entertainment |
|
|
9.95 |
% |
|
1M L+750 |
|
|
|
2,061 |
|
|
|
2,036 |
|
|
|
2,013 |
|
|
|
|
|
|
|
|
(PIK 5.50%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Ledge Lounger, Inc. |
|
11/09/2026 |
|
Consumer Products |
|
|
9.92 |
% |
|
3M L+625 |
|
|
|
9,177 |
|
|
|
9,021 |
|
|
|
9,040 |
|
|
Ledge Lounger, Inc. (Revolver) (7) |
|
11/09/2026 |
|
Consumer Products |
|
|
— |
|
|
|
— |
|
|
|
1,933 |
|
|
|
— |
|
|
|
(29 |
) |
Lightspeed Buyer Inc. |
|
02/03/2026 |
|
Healthcare, Education and Childcare |
|
|
8.87 |
% |
|
1M L+575 |
|
|
|
2,220 |
|
|
|
2,205 |
|
|
|
2,148 |
|
|
Lightspeed Buyer Inc. (Revolver) |
|
02/03/2026 |
|
Healthcare, Education and Childcare |
|
|
8.87 |
% |
|
1M L+575 |
|
|
|
505 |
|
|
|
505 |
|
|
|
489 |
|
|
Lightspeed Buyer Inc. (Revolver) (7) |
|
02/03/2026 |
|
Healthcare, Education and Childcare |
|
|
— |
|
|
|
— |
|
|
|
661 |
|
|
|
— |
|
|
|
(21 |
) |
Limerick Town Cener, LLC |
|
09/27/2023 |
|
Real Estate |
|
|
12.50 |
% |
|
|
— |
|
|
|
3,000 |
|
|
|
2,970 |
|
|
|
2,970 |
|
LSF9 Atlantis Holdings, LLC |
|
03/31/2029 |
|
Retail |
|
|
9.37 |
% |
|
SOFR+725 |
|
|
|
6,000 |
|
|
|
5,772 |
|
|
|
5,685 |
|
|
Mars Acquisition Holdings Corp. (Revolver)(7) |
|
05/14/2026 |
|
Media |
|
|
— |
|
|
|
— |
|
|
|
806 |
|
|
|
— |
|
|
|
(4 |
) |
MBS Holdings, Inc. (Revolver) (7) |
|
04/16/2027 |
|
Telecommunications |
|
|
— |
|
|
|
— |
|
|
|
694 |
|
|
|
— |
|
|
|
(7 |
) |
MDI Buyer, Inc. |
|
07/25/2028 |
|
Chemicals, Plastics and Rubber |
|
|
8.98 |
% |
|
3M L+600 |
|
|
|
14,400 |
|
|
|
14,117 |
|
|
|
14,112 |
|
|
MDI Buyer, Inc. Term Loan (7) |
|
07/25/2028 |
|
Chemicals, Plastics and Rubber |
|
|
— |
|
|
|
— |
|
|
|
5,196 |
|
|
|
— |
|
|
|
(52 |
) |
MDI Buyer, Inc. (Revolver) (7) |
|
07/25/2028 |
|
Chemicals, Plastics and Rubber |
|
|
— |
|
|
|
— |
|
|
|
2,227 |
|
|
|
— |
|
|
|
(22 |
) |
Meadowlark Acquirer, LLC |
|
12/10/2027 |
|
Business Services |
|
|
9.17 |
% |
|
3M L+550 |
|
|
|
1,320 |
|
|
|
1,307 |
|
|
|
1,307 |
|
|
Meadowlark Acquirer, LLC Term Loan I (7) |
|
12/10/2027 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
1,676 |
|
|
|
— |
|
|
|
— |
|
Meadowlark Acquirer, LLC Term Loan II (7) |
|
12/10/2027 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
8,922 |
|
|
|
— |
|
|
|
— |
|
Meadowlark Acquirer, LLC (Revolver) (7) |
|
12/10/2027 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
1,685 |
|
|
|
— |
|
|
|
(17 |
) |
Municipal Emergency Services, Inc. |
|
09/28/2027 |
|
Distribution |
|
|
8.67 |
% |
|
3M L+500 |
|
|
|
703 |
|
|
|
697 |
|
|
|
663 |
|
|
Municipal Emergency Services, Inc. (7) |
|
09/28/2027 |
|
Distribution |
|
|
— |
|
|
|
— |
|
|
|
1,175 |
|
|
|
— |
|
|
|
(56 |
) |
Municipal Emergency Services, Inc. (Revolver) |
|
09/28/2027 |
|
Distribution |
|
|
7.25 |
% |
|
3M L+500 |
|
|
|
282 |
|
|
|
282 |
|
|
|
266 |
|
|
Municipal Emergency Services, Inc. (Revolver) (7) |
|
09/28/2027 |
|
Distribution |
|
|
— |
|
|
|
— |
|
|
|
1,598 |
|
|
|
— |
|
|
|
(93 |
) |
NBH Group LLC (Revolver) (7) |
|
08/19/2026 |
|
Healthcare, Education and Childcare |
|
|
— |
|
|
|
— |
|
|
|
1,163 |
|
|
|
— |
|
|
|
— |
|
Neptune Flood Incorporated |
|
10/14/2026 |
|
Financial Services |
|
|
7.10 |
% |
|
1M L+525 |
|
|
|
4,379 |
|
|
|
4,352 |
|
|
|
4,423 |
|
|
OIS Management Services, LLC (Revolver) (7) |
|
07/09/2026 |
|
Healthcare, Education and Childcare |
|
|
— |
|
|
|
— |
|
|
|
333 |
|
|
|
— |
|
|
|
— |
|
One Stop Mailing, LLC |
|
05/07/2027 |
|
Cargo Transport |
|
|
8.77 |
% |
|
3M L+625 |
|
|
|
7,008 |
|
|
|
6,889 |
|
|
|
6,798 |
|
|
ORL Acquisition, Inc. |
|
09/03/2027 |
|
Business Services |
|
|
8.92 |
% |
|
3M L+525 |
|
|
|
4,454 |
|
|
|
4,378 |
|
|
|
4,454 |
|
|
ORL Acquisition, Inc. (Revolver) (7) |
|
09/03/2027 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
597 |
|
|
|
— |
|
|
|
— |
|
Ox Two, LLC |
|
05/18/2026 |
|
Building Materials |
|
|
9.81 |
% |
|
1M L+700 |
|
|
|
15,391 |
|
|
|
15,189 |
|
|
|
15,083 |
|
|
Ox Two, LLC (Revolver) |
|
05/18/2026 |
|
Building Materials |
|
|
9.81 |
% |
|
3M L+700 |
|
|
|
1,774 |
|
|
|
1,774 |
|
|
|
1,739 |
|
|
Ox Two, LLC (Revolver) (7) |
|
05/18/2026 |
|
Building Materials |
|
|
— |
|
|
|
— |
|
|
|
645 |
|
|
|
— |
|
|
|
(13 |
) |
PL Acquisitionco, LLC (Revolver) (7) |
|
11/09/2027 |
|
Retail |
|
|
— |
|
|
|
— |
|
|
|
3,236 |
|
|
|
— |
|
|
|
(81 |
) |
PRA Events, Inc. |
|
08/07/2025 |
|
Business Services |
|
|
14.17 |
% |
|
3M L+1,050 |
|
|
|
24,907 |
|
|
|
21,694 |
|
|
|
24,907 |
|
|
|
|
|
|
|
|
(PIK 10.5%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
PRA Events, Inc. (Revolver) (7) |
|
08/07/2025 |
|
Business Services |
|
|
— |
|
|
3M L+1,050 |
|
|
|
2,000 |
|
|
|
— |
|
|
|
— |
|
|
Pragmatic Institute, LLC |
|
07/06/2028 |
|
Business Services |
|
|
9.30 |
% |
|
3M L+575 |
|
|
|
35,340 |
|
|
|
34,826 |
|
|
|
34,987 |
|
|
Pragmatic Institute, LLC Term Loan (7) |
|
07/06/2028 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
7,193 |
|
|
|
— |
|
|
|
— |
|
Pragmatic Institute, LL (Revolver) |
|
07/06/2028 |
|
Business Services |
|
|
9.30 |
% |
|
3M L+575 |
|
|
|
959 |
|
|
|
959 |
|
|
|
949 |
|
|
Pragmatic Institute, LL (Revolver) (7) |
|
07/06/2028 |
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
3,836 |
|
|
|
— |
|
|
|
(38 |
) |
Quantic Electronics, LLC |
|
11/19/2026 |
|
Aerospace and Defense |
|
|
8.00 |
% |
|
1M L+625 |
|
|
|
679 |
|
|
|
673 |
|
|
|
666 |
|
|
Quantic Electronics, LLC (Revolver) |
|
11/19/2026 |
|
Aerospace and Defense |
|
|
9.51 |
% |
|
3M L+600 |
|
|
|
211 |
|
|
|
211 |
|
|
|
207 |
|
|
Quantic Electronics, LLC (Revolver) (7) |
|
11/19/2026 |
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
317 |
|
|
|
— |
|
|
|
(6 |
) |
Questex, LLC |
|
09/09/2024 |
|
Media |
|
|
7.45 |
% |
|
3M L+500 |
|
|
|
21,600 |
|
|
|
21,436 |
|
|
|
21,168 |
|
|
Questex, LLC (Revolver) (7) |
|
09/09/2024 |
|
Media |
|
|
— |
|
|
|
— |
|
|
|
3,590 |
|
|
|
— |
|
|
|
(72 |
) |
Radius Aerospace, Inc. (Revolver) |
|
03/31/2025 |
|
Aerospace and Defense |
|
|
8.28 |
% |
|
3M L+575 |
|
|
|
891 |
|
|
|
891 |
|
|
|
877 |
|
|
Radius Aerospace, Inc. (Revolver) (7) |
|
03/31/2025 |
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
1,336 |
|
|
|
— |
|
|
|
(20 |
) |
Rancho Health MSO, Inc. (7) |
|
12/18/2025 |
|
Healthcare, Education and Childcare |
|
|
— |
|
|
|
— |
|
|
|
1,050 |
|
|
|
— |
|
|
|
— |
|
Rancho Health MSO, Inc. (Revolver) (7) |
|
12/18/2025 |
|
Healthcare, Education and Childcare |
|
|
— |
|
|
|
— |
|
|
|
525 |
|
|
|
— |
|
|
|
— |
|
Reception Purchaser, LLC |
|
02/28/2028 |
|
Transportation |
|
|
9.13 |
% |
|
SOFR+600 |
|
|
|
5,970 |
|
|
|
5,885 |
|
|
|
5,701 |
|
|
Recteq, LLC (Revolver) |
|
01/29/2026 |
|
Consumer Products |
|
|
9.92 |
% |
|
1M L+600 |
|
|
|
313 |
|
|
|
313 |
|
|
|
302 |
|
|
Recteq, LLC (Revolver) (7) |
|
01/29/2026 |
|
Consumer Products |
|
|
— |
|
|
|
— |
|
|
|
814 |
|
|
|
— |
|
|
|
(28 |
) |
PENNANTPARK INVESTMENT CORPORATION AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
SEPTEMBER 30, 2022
(In thousands, except share data)
Issuer Name |
|
Maturity / Expiration |
|
|
Industry |
|
Current |
|
|
Basis Point |
|
|
Par / |
|
|
Cost |
|
|
Fair Value (3) |
|
||||||
Research Now Group, Inc. and Dynata, LLC |
|
12/20/2024 |
|
|
Business Services |
|
|
8.84 |
% |
|
3M L+550 |
|
|
|
126 |
|
|
$ |
126 |
|
|
$ |
113 |
|
||
Riverpoint Medical, LLC (Revolver) (7) |
|
06/20/2025 |
|
|
Healthcare, Education and Childcare |
|
|
— |
|
|
|
— |
|
|
|
364 |
|
|
|
— |
|
|
|
(9 |
) |
|
Riverside Assessments, LLC |
|
03/10/2025 |
|
|
Education |
|
|
8.97 |
% |
|
3M L+625 |
|
|
|
12,906 |
|
|
|
12,705 |
|
|
|
12,648 |
|
||
Sales Benchmark Index LLC (Revolver) (7) |
|
01/03/2025 |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
732 |
|
|
|
— |
|
|
|
(7 |
) |
|
Sargent & Greenleaf Inc. (Revolver) |
|
12/20/2024 |
|
|
Electronics |
|
|
8.28 |
% |
|
3M L+550 |
|
|
|
593 |
|
|
|
593 |
|
|
|
587 |
|
||
Sargent & Greenleaf Inc. (Revolver) (7) |
|
12/20/2024 |
|
|
Electronics |
|
|
— |
|
|
|
— |
|
|
|
5 |
|
|
|
- |
|
|
|
- |
|
|
Schlesinger Global, Inc. |
|
07/14/2025 |
|
|
Business Services |
|
|
11.11 |
% |
|
3M L+700 |
|
|
|
4,689 |
|
|
|
4,636 |
|
|
|
4,571 |
|
||
Schlesinger Global, Inc. (Revolver) |
|
07/14/2025 |
|
|
Business Services |
|
|
9.09 |
% |
|
3M L+600 |
|
|
|
30 |
|
|
|
30 |
|
|
|
30 |
|
||
|
|
|
|
|
|
|
(PIK 0.5%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Schlesinger Global, Inc. (Revolver)(7) |
|
07/14/2025 |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
8 |
|
|
|
— |
|
|
|
— |
|
|
Seaway Buyer, LLC |
|
06/13/2029 |
|
|
Chemicals, Plastics and Rubber |
|
|
9.70 |
% |
|
1M L+575 |
|
|
|
4,800 |
|
|
|
4,730 |
|
|
|
4,728 |
|
||
Seaway Buyer, LLC (Revolver)(7) |
|
06/13/2029 |
|
|
Chemicals, Plastics and Rubber |
|
|
— |
|
|
|
— |
|
|
|
3,126 |
|
|
|
— |
|
|
|
(47 |
) |
|
Shiftkey, LLC |
|
06/21/2027 |
|
|
Business Services |
|
|
9.56 |
% |
|
1M L+575 |
|
|
|
17,955 |
|
|
|
17,784 |
|
|
|
17,722 |
|
||
Sigma Defense Systems, LLC |
|
12/18/2025 |
|
|
Telecommunications |
|
|
12.17 |
% |
|
1M L+850 |
|
|
|
31,680 |
|
|
|
31,004 |
|
|
|
31,047 |
|
||
Sigma Defense Systems, LLC (Revolver) |
|
12/18/2025 |
|
|
Telecommunications |
|
|
12.17 |
% |
|
1M L+850 |
|
|
|
1,131 |
|
|
|
1,131 |
|
|
|
1,108 |
|
||
Sigma Defense Systems, LLC (Revolver) (7) |
|
12/18/2025 |
|
|
Telecommunications |
|
|
— |
|
|
|
— |
|
|
|
1,845 |
|
|
|
— |
|
|
|
(37 |
) |
|
Signature Systems Holding Company (Revolver) (7) |
|
05/03/2024 |
|
|
Chemicals, Plastics and Rubber |
|
|
— |
|
|
|
— |
|
|
|
2,016 |
|
|
|
— |
|
|
|
(15 |
) |
|
Solutionreach, Inc. (Revolver) (7) |
|
01/17/2024 |
|
|
Communications |
|
|
— |
|
|
|
— |
|
|
|
1,665 |
|
|
|
— |
|
|
|
(40 |
) |
|
Spear Education, LLC |
|
02/26/2025 |
|
|
Education |
|
|
9.42 |
% |
|
3M L+575 |
|
|
|
12,018 |
|
|
|
11,947 |
|
|
|
12,018 |
|
||
Spendmend Holdings LLC |
|
03/01/2028 |
|
|
Business Services |
|
|
8.63 |
% |
|
1M L+575 |
|
|
|
9,705 |
|
|
|
9,581 |
|
|
|
9,433 |
|
||
Spendmend Holdings LLC (7) |
|
03/01/2023 |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
2,784 |
|
|
|
— |
|
|
|
(57 |
) |
|
Spendmend Holdings LLC - Funded Revolver |
|
03/01/2028 |
|
|
Business Services |
|
|
8.63 |
% |
|
3M L+575 |
|
|
|
187 |
|
|
|
187 |
|
|
|
182 |
|
||
Spendmend Holdings LLC - Unfunded Revolver (7) |
|
03/01/2028 |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
1,215 |
|
|
|
— |
|
|
|
(34 |
) |
|
System Planning and Analysis, Inc. - (Revolver) (7) |
|
08/16/2027 |
|
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
2,925 |
|
|
|
— |
|
|
|
(47 |
) |
|
The Bluebird Group LLC |
|
07/27/2026 |
|
|
Business Services |
|
|
10.67 |
% |
|
3M L+700 |
|
|
|
4,884 |
|
|
|
4,796 |
|
|
|
4,933 |
|
||
The Bluebird Group LLC (Revolver) (7) |
|
07/27/2026 |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
734 |
|
|
|
— |
|
|
|
7 |
|
|
The Vertex Companies, LLC |
|
08/30/2027 |
|
|
Business Services |
|
|
8.18 |
% |
|
3M L+550 |
|
|
|
1,754 |
|
|
|
1,737 |
|
|
|
1,745 |
|
||
The Vertex Companies, LLC (7) |
|
08/30/2027 |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
466 |
|
|
|
— |
|
|
|
2 |
|
|
The Vertex Companies, LLC (Revolver) |
|
08/30/2027 |
|
|
Business Services |
|
|
8.26 |
% |
|
3M L+550 |
|
|
|
148 |
|
|
|
148 |
|
|
|
147 |
|
||
The Vertex Companies, LLC (Revolver) (7) |
|
08/30/2027 |
|
|
Business Services |
|
|
— |
|
|
|
— |
|
|
|
592 |
|
|
|
— |
|
|
|
(3 |
) |
|
TVC Enterprises, LLC |
|
03/26/2026 |
|
|
Transportation |
|
|
8.87 |
% |
|
1M L+600 |
|
|
|
12,864 |
|
|
|
12,626 |
|
|
|
12,543 |
|
||
TVC Enterprises, LLC (Revolver) (7) |
|
03/26/2026 |
|
|
Transportation |
|
|
— |
|
|
|
— |
|
|
|
1,370 |
|
|
|
— |
|
|
|
(34 |
) |
|
TWS Acquisition Corporation |
|
06/16/2025 |
|
|
Education |
|
|
8.76 |
% |
|
1M L+625 |
|
|
|
1,143 |
|
|
|
1,143 |
|
|
|
1,137 |
|
||
TWS Acquisition Corporation (Revolver) (7) |
|
06/16/2025 |
|
|
Education |
|
|
— |
|
|
|
— |
|
|
|
1,644 |
|
|
|
— |
|
|
|
(8 |
) |
|
Tyto Athene, LLC (Revolver) (7) |
|
04/01/2026 |
|
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
364 |
|
|
|
— |
|
|
|
(26 |
) |
|
Unique Indoor Comfort, LLC |
|
05/24/2027 |
|
|
Home and Office Furnishings |
|
|
8.95 |
% |
|
1M L+525 |
|
|
|
27,233 |
|
|
|
26,904 |
|
|
|
26,634 |
|
||
Unique Indoor Comfort, LLC (7) |
|
05/24/2027 |
|
|
Home and Office Furnishings |
|
|
— |
|
|
|
— |
|
|
|
16,140 |
|
|
|
— |
|
|
|
(194 |
) |
|
Unique Indoor Comfort, LLC (Revolver) (7) |
|
05/24/2027 |
|
|
Home and Office Furnishings |
|
|
— |
|
|
|
— |
|
|
|
3,000 |
|
|
|
— |
|
|
|
(66 |
) |
|
Walker Edison Furniture Company LLC |
|
03/31/2027 |
|
|
Home and Office Furnishings |
|
|
12.42 |
% |
|
3M L+875 |
|
|
|
25,368 |
|
|
|
24,881 |
|
|
|
16,946 |
|
||
Wildcat Buyerco, Inc. |
|
02/27/2026 |
|
|
Electronics |
|
|
9.09 |
% |
|
3M L+575 |
|
|
|
3,831 |
|
|
|
3,771 |
|
|
|
3,716 |
|
||
Wildcat Buyerco, Inc. (Revolver) (7) |
|
02/27/2026 |
|
|
Electronics |
|
|
— |
|
|
|
— |
|
|
|
574 |
|
|
|
— |
|
|
|
(41 |
) |
|
Zips Car Wash, LLC |
|
03/01/2024 |
|
|
Auto Sector |
|
|
10.13 |
% |
|
3M L+725 |
|
|
|
2,627 |
|
|
|
2,608 |
|
|
|
2,562 |
|
||
Total First Lien Secured Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
599,263 |
|
|
|
588,267 |
|
||||
Second Lien Secured Debt—22.2% of Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Atlas Purchaser, Inc |
|
05/07/2029 |
|
|
Telecommunications |
|
|
11.19 |
% |
|
3M L+900 |
|
|
|
17,000 |
|
|
|
16,551 |
|
|
|
14,909 |
|
||
Best Practice Associates LLC |
|
06/29/2027 |
|
|
Aerospace and Defense |
|
|
12.67 |
% |
|
3M L+900 |
|
|
|
17,825 |
|
|
|
17,506 |
|
|
|
17,290 |
|
||
Burgess Point Purchaser Corporation |
|
07/28/2030 |
|
|
Auto Sector |
|
|
12.16 |
% |
|
3M L+900 |
|
|
|
8,000 |
|
|
|
7,752 |
|
|
|
7,680 |
|
||
Data Axle, Inc. |
|
04/03/2024 |
|
|
Other Media |
|
|
12.92 |
% |
|
3M L+925 |
|
|
|
20,400 |
|
|
|
20,288 |
|
|
|
20,196 |
|
||
ENC Parent Corporation |
|
08/19/2029 |
|
|
Business Services |
|
|
11.17 |
% |
|
3M L+750 |
|
|
|
7,500 |
|
|
|
7,432 |
|
|
|
7,125 |
|
||
Halo Buyer, Inc. |
|
07/06/2026 |
|
|
Consumer Products |
|
|
11.37 |
% |
|
1M L+825 |
|
|
|
32,500 |
|
|
|
32,164 |
|
|
|
31,769 |
|
||
Inventus Power, Inc. |
|
09/29/2024 |
|
|
Electronics |
|
|
12.17 |
% |
|
3M L+850 |
|
|
|
16,593 |
|
|
|
16,387 |
|
|
|
16,344 |
|
||
QuantiTech LLC |
|
02/04/2027 |
|
|
Aerospace and Defense |
|
|
12.68 |
% |
|
3M L+1,000 |
|
|
|
150 |
|
|
|
148 |
|
|
|
148 |
|
||
VT Topco, Inc. |
|
08/17/2026 |
|
|
Business Services |
|
|
9.87 |
% |
|
3M L+675 |
|
|
|
15,000 |
|
|
|
14,932 |
|
|
|
14,475 |
|
||
Total Second Lien Secured Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
133,160 |
|
|
|
129,936 |
|
||||
Subordinated Debt/Corporate Notes—9.1% of Net Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Express Wash Acquisition Company, LLC |
|
01/15/2029 |
|
|
Auto Sector |
|
|
15.31 |
% |
|
3M L+1,150 |
|
|
|
21,000 |
|
|
|
20,278 |
|
|
|
20,359 |
|
||
Flock Financial, LLC |
|
05/26/2027 |
|
|
Financial Services |
|
|
12.50 |
% |
|
|
— |
|
|
|
34,000 |
|
|
|
33,190 |
|
|
|
32,895 |
|
|
Total Subordinated Debt/Corporate Notes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
53,468 |
|
|
|
53,254 |
|||||