Welcome to our dedicated page for Palmer Square Capital Bdc SEC filings (Ticker: PSBD), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Palmer Square Capital BDC Inc. filings document material-event disclosures for an externally managed business development company focused on corporate debt loans and related debt securities. Recent Form 8-K reports furnish quarterly and annual operating results, supplemental investor presentations, net investment income, net asset value, portfolio metrics and dividend declarations.
The company’s regulatory disclosures also identify PSBD as a non-diversified closed-end management investment company regulated as a BDC under the Investment Company Act of 1940. Filing exhibits describe its adviser relationship with Palmer Square BDC Advisor LLC, its investment focus in broadly syndicated loans and direct large-cap private credit, and recurring disclosures on common stock NAV estimates and distributions.
Palmer Square Capital BDC Inc. reported that its board approved an increase and extension of its common stock repurchase program. The company is authorized to repurchase an additional $30 million of shares and extended the program’s expiration to June 22, 2027.
To date, Palmer Square Capital BDC has repurchased approximately $22.2 million of stock under the program. It also expects to enter into a Rule 10b5-1 share repurchase plan to buy up to $10 million of stock when the market price trades at a set discount to the most recently reported net asset value per share, subject to legal and market constraints.
Palmer Square Capital BDC Inc. provides an unaudited estimate of its net asset value per share. Management estimates the net asset value of its common stock was $13.59 per share as of April 30, 2026. The company’s common stock, par value $0.001 per share, trades on the New York Stock Exchange under the symbol PSBD.
Palmer Square Capital BDC Inc. ownership disclosure: Alaris Master Fund LP and affiliated Alaris Capital, LLC each report beneficial ownership of 2,503,411 shares of Common Stock, representing 8.0% of the class. The filing is an Amendment No. 3 to a Schedule 13G/A and lists shared voting and dispositive power for each entity over the stated shares.
The filing provides the filers' address in Kansas City and is signed by Hunter Armistead, Chief Investment Officer, with signature dates of 05/12/2026.
Palmer Square Capital BDC Inc. reported first quarter 2026 results with total investment income of $26.2 million and net investment income of $11.0 million, or $0.35 per share, down from $0.40 a year earlier. Net asset value per share fell to $13.30 from $14.85 at year-end, driven by $48.3 million of net realized and unrealized losses and a total return of (7.22)% for the quarter.
As of March 31, 2026, total assets were $1.2 billion and net assets were $413.8 million, with debt-to-equity of 1.70x. The portfolio totaled $1.15 billion in fair value across 214 companies, 96% in senior secured loans and 98% floating-rate, with virtually no non-accrual exposure by fair value. The company paid $0.37 per share in first quarter distributions and declared a second quarter base dividend of $0.36 per share, with an additional supplemental dividend expected to be announced in June.
PSBD provides primarily floating-rate credit to private companies through a large portfolio of first lien and second lien senior secured loans, corporate bonds, and collateralized loan obligation (CLO) interests, along with select equity stakes and preferred units in portfolio companies.
The investments span many industries, including healthcare, software, insurance, chemicals, packaging, industrials, energy, and leisure. Many loans are tied to a benchmark rate "S" plus a spread, with stated cash interest rates such as 8.47% for B'laster Holdings, LLC, 13.22% for New WPCC Parent, LLC, and 17.35% for Aimbridge Acquisition Co., Inc.
Maturities are generally long-dated, often between 2026 and 2032, indicating a focus on medium- to long-term lending. Several instruments feature PIK (payment-in-kind) components and delayed draw or revolving structures, which affect how and when interest is paid and capital is deployed.
Palmer Square Capital BDC Inc. reported that management’s unaudited estimate of the company’s net asset value (NAV) per share was $13.30 as of March 31, 2026. NAV per share reflects the value of the business development company’s investment portfolio and other net assets on a per-share basis.
Palmer Square Capital BDC Inc. declared a first quarter 2026 supplemental dividend of $0.01 per share, payable on April 9, 2026 to shareholders of record on March 27, 2026. This is in addition to the previously declared base dividend of $0.36 per share for the same quarter.
The supplemental dividend will be funded from the excess of the company’s quarterly undistributed net investment income over the base dividend, reflecting earnings above the level already committed to regular payouts.
Palmer Square Capital BDC Inc. reported an unaudited management estimate of its net asset value (NAV) per share of common stock of $13.82 as of February 28, 2026. The company’s common stock, par value $0.001 per share, trades on the New York Stock Exchange under the symbol PSBD.
Palmer Square Capital BDC Inc. reported fourth-quarter 2025 total investment income of $29.8 million, down from $34.9 million a year earlier, and net investment income of $13.1 million, or $0.41 per share. Net asset value was $14.85 per share as of December 31, 2025, versus $15.39 at September 30, reflecting $18.4 million of net realized and unrealized losses.
For full-year 2025, total investment income was $124.4 million and net investment income was $53.5 million, or $1.66 per share, while realized and unrealized losses of $56.6 million led to a small net decrease in net assets from operations. Net assets were $464.1 million, or $14.85 per share, with a debt-to-equity ratio of 1.54x.
The investment portfolio had a fair value of about $1.2 billion across 205 companies in 42 industries, with 95% in senior secured loans and only 0.09% of investments on non-accrual by fair value. The company paid $0.43 per share in cash distributions for the quarter and declared a first-quarter 2026 base dividend of $0.36 per share, payable April 9, 2026, with a supplemental dividend expected to be announced in March.
Palmer Square Capital BDC Inc., a Maryland-based business development company listed on the NYSE under the symbol PSBD, files its annual report for the year ended December 31, 2025. The company is externally managed by Palmer Square BDC Advisor LLC and operates as a regulated investment company for tax purposes.
The business focuses on generating total return from corporate debt securities, primarily first-lien senior secured loans to U.S. private companies, and from investments in CLO structured credit funds including equity and junior debt tranches. It may also use derivatives for hedging and, at times, receive equity warrants alongside debt positions.
As of December 31, 2025, Palmer Square Capital BDC held 264 debt and equity investments across 205 portfolio companies, with total assets of approximately $1.2 billion. The portfolio spans sectors such as IT services, healthcare, financial services, industrials, and media, with individual positions like Nexus Buyer LLC and Gainwell Acquisition Corp. each representing close to one percent of total assets, highlighting a broadly diversified loan book.