Palmer Square Capital BDC Inc. filed its Form 10-Q for the quarterly period ended June 30, 2026, with the U.S. Securities and Exchange Commission, reporting a net decrease in net assets from operations of $28,786,782 for the six months ended June 30, 2026.

Key Highlights

  • Net Asset Value Per Share: NAV per common share fell to $13.21 as of June 30, 2026, from $14.85 as of December 31, 2025, according to the filing.
  • Total Investment Income: Total investment income was $27,296,277 for the three months ended June 30, 2026, compared to $31,676,920 for the same period in 2025.
  • Net Investment Income: Net investment income for the six months ended June 30, 2026 was $23,077,900, down from $26,754,680 in the prior-year period.
  • Unrealized Losses: The company reported a net change in unrealized losses of $37,861,570 on non-controlled, non-affiliated investments for the six months ended June 30, 2026.
  • Shares Outstanding: As of August 4, 2026, the registrant had 30,651,221 shares of common stock outstanding.
  • Share Repurchases: The company repurchased $5,674,152 of common shares during the six months ended June 30, 2026.
  • Total Net Assets: Total net assets stood at $406,153,530 as of June 30, 2026, compared to $464,123,172 as of December 31, 2025.

Palmer Square Capital BDC's Financial Position and Operating Results for the First Half of 2026

According to the filing, Palmer Square Capital BDC Inc. (NYSE: PSBD), a Maryland corporation headquartered in Mission Woods, Kansas, reported total assets of $1,132,579,678 as of June 30, 2026, down from $1,219,375,759 as of December 31, 2025. Non-controlled, non-affiliated investments at fair value were $1,113,377,240, against an amortized cost of $1,242,154,553, reflecting an unrealized depreciation position. Cash and cash equivalents totaled $2,448,931 at the end of the second quarter.

The filing disclosed that total investment income for the six months ended June 30, 2026 was $53,512,991, compared to $62,891,199 for the six months ended June 30, 2025. Interest income, the largest component, was $50,915,028 for the first half of 2026, versus $59,843,505 in the prior-year period. Total expenses for the six months ended June 30, 2026 were $30,435,091, with interest expense of $21,226,424 representing the largest line item. The net decrease in net assets resulting from operations for the six-month period was $28,786,782, or $(0.93) per common share on a basic and diluted basis, compared to a net decrease of $1,219,235, or $(0.04) per share, in the first half of 2025.

The company reported total liabilities of $726,426,148 as of June 30, 2026, including credit facilities of $394,543,192 (net of deferred financing costs of $4,214,139) and notes of $301,949,233 (net of deferred financing costs of $1,540,292). Stockholder distributions for the six months ended June 30, 2026 totaled $23,508,708. The company's total distributable earnings showed an accumulated deficit of $181,846,623 as of June 30, 2026, compared to a deficit of $129,551,133 as of December 31, 2025. The weighted average common shares outstanding for the six-month period were 31,093,997.

What Was Disclosed

Palmer Square Capital BDC filed its quarterly report covering the period ended June 30, 2026, disclosing a decline in NAV per share to $13.21, net investment income of $23,077,900, significant unrealized losses of $37,861,570, and total net assets of $406,153,530 for the first half of 2026.