PFLT (NASDAQ: PFLT) outlines broad floating-rate loans and equity stakes

Rhea-AI Filing Summary

PennantPark Floating Rate Capital Ltd. (PFLT) provides detailed disclosure of its investments in non-controlled, non-affiliated portfolio companies. The excerpt lists numerous positions primarily in first lien secured debt, along with selected preferred equity, common equity, and warrant holdings.

The companies span many industries, including healthcare providers and services, aerospace and defense, media, professional services, consumer products, distributors, and leisure products. Individual loans show stated current coupons such as 8.50% for BLC Holding Company, Inc., 9.81% for Wash & Wax Systems, LLC, and 12.00% for Wash & Wax Systems LLC subordinate debt, often quoted as spreads over SOFR.

Many positions are structured as unfunded or funded revolvers and term loans with acquisition dates concentrated between 2019 and 2025 and maturities generally ranging from 2025 into the early 2030s, illustrating PFLT’s focus on floating-rate, secured lending across a diversified middle-market portfolio.

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20282030-08-31OneOne0001504619us-gaap:FairValueInputsLevel3Memberpflt:ValuationTechniqueMarketComparableMemberpflt:MeasurementInputMarketYieldMembersrt:MinimumMemberpflt:FirstLienMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants North Haven Saints Equity Holdings, LP - Common Equity Acquisition 2/25/2022 Industry Healthcare Technology2025-10-012025-12-310001504619country:US2025-12-310001504619Equity Securities Issuer Name Wash & Wax Group, LP - Common Equity Acquisition 4/30/2025 Industry Automobiles2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Compex Legal Services, Inc. - Unfunded Revolver Acquisition 1/27/2020 Maturity 02/07/2026 Industry Professional Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt IG Investments Holdings, LLC Acquisition 11/23/2021 Maturity 9/22/2028 Industry Professional Services Current Coupon 8.84% Basis Point Spread Above Index 3M SOFR+ 5002025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Burgess Point Purchaser Corporation Acquisition 10/3/2022 Maturity 7/25/2029 Industry Automotive Current Coupon 9.51% Basis Point Spread Above Index SOFR+5352024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Podean Buyer, LLC Acquisition 8/4/2025 Maturity 08/04/2031 Industry Marketing Services Current Coupon 9.66% Basis Point Spread Above Index 3M SOFR+ 6002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Unitek Global Services, Inc. - Warrants Acquisition 1/13/2015 Industry Telecommunications2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cartessa Aesthetics, LLC - Unfunded Revolver Acquisition 6/1/2022 Maturity 6/14/2028 Industry Distributors2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ACP Falcon Buyer, LLC - Unfunded Revolver Acquisition 7/26/2023 Maturity 08/01/2029 Industry Professional Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Harris & Co. LLC - Unfunded Revolver Acquisition 8/09/2024 Maturity 08/09/2030 Industry Professional Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt First Medical MSO, LLC - Unfunded Term Loan Acquisition 6/13/2025 Maturity 6/13/2027 Industry Healthcare Providers and Services2025-10-012025-12-310001504619pflt:TwoThousandAndThirtySixAssetBackedDebtMemberpflt:ClassCNotesMemberpflt:SecuredOvernightFinancingRateMember2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Graffiti Buyer, Inc. Acquisition 3/15/2022 Maturity 8/10/2027 Industry Trading Companies & Distributors Current Coupon 9.80% Basis Point Spread Above Index SOFR+5602024-10-012025-09-300001504619pflt:TwoThousandThirtySevenRAsset-BackedDebtMemberpflt:PennantParkSeniorSecuredLoanFundILLCMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Imagine Topco. LP - Common Equity Acquisition 11/4/2021 Industry Software2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt GGG Midco, LLC Acquisition 09/27/2024 Maturity 09/27/2030 Industry Diversified Consumer Services Current Coupon 9.00% Basis Point Spread Above Index 3M SOFR+ 5002025-09-300001504619First Lien Secured Debt Issuer Name OSP Embedded Purchaser, LLC Acquisition 11/19/2024 Maturity 12/17/2029 Industry Aerospace and Defense Current Coupon 9.42% Basis Point Spread Above Index SOFR+5752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rural Sourcing Holdings, Inc. Acquisition 6/8/2023 Maturity 06/15/2029 Industry Professional Services Current Coupon 9.42% Basis Point Spread Above Index 3M SOFR+ 5752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Megawatt Acquisition Partners, LLC - Common Equity - Class A Acquisition 6/28/2024 Industry Electronic Equipment, Instruments, and Components2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt BLC Holding Company, Inc. - Funded Revolver Acquisition 11/20/2024 Maturity 11/20/2030 Industry Business Services Current Coupon 8.50% Basis Point Spread Above Index 3M SOFR+ 4502024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carisk Buyer, Inc. - Unfunded Term Loan Acquisition 11/27/2023 Maturity 12/3/2029 Industry Healthcare Technology2025-03-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Schlesinger Global, Inc. - Funded Revolver Acquisition 10/24/2019 Maturity 10/24/2025 Industry Professional Services Current Coupon 12.76% (PIK 5.85%) Basis Point Spread Above Index 3M SOFR+8602025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Case Works, LLC - Funded Revolver Acquisition 10/1/2024 Maturity 10/01/2029 Industry Professional Services Current Coupon 9.25% Basis Point Spread Above Index 3M SOFR+ 5252024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity RTIC Parent Holdings, LLC - Preferred Equity - Class D Acquisition 5/3/2024 Industry Leisure Products2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt LAV Gear Holdings, Inc. - Unfunded Revolver Acquisition 7/31/2025 Maturity 07/31/2029 Industry Capital Equipment2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Smartronix, LLC Acquisition 2/6/2025 Maturity 2/6/2032 Industry Aerospace and Defense Current Coupon 8.66% Basis Point Spread Above Index 1M SOFR+ 4502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Pacific Purchaser, LLC Acquisition 10/2/2023 Maturity 10/2/2028 Industry Professional Services Current Coupon 10.42% Basis Point Spread Above Index 3M SOFR+ 6252024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Marketplace Events Acquisition, LLC - Common Equity Acquisition 12/19/2024 Industry Media: Diversified and Production2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PlayPower, Inc. - Unfunded Revolver Acquisition 8/28/2024 Maturity 8/28/2030 Industry Leisure Products2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants ACP Big Top Holdings, LP - Common Equity Acquisition 2/29/2024 Industry Construction & Engineering2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Harris & Co. LLC - Funded Revolver Acquisition 8/9/2024 Maturity 8/9/2030 Industry Professional Services Current Coupon 8.72% Basis Point Spread Above Index 1M SOFR+ 5002025-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:ValuationTechniqueMarketComparableMemberpflt:MeasurementInputMarketYieldMemberus-gaap:SubordinatedDebtMembersrt:MinimumMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Blackhawk Industrial Distribution, Inc. Acquisition 6/27/2022 Maturity 9/17/2026 Industry Distributors Current Coupon 9.07% Basis Point Spread Above Index 3M SOFR+ 5402025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PCS MIDCO, Inc. - Unfunded Revolver Acquisition 3/1/2024 Maturity 03/01/2030 Industry Professional Services2025-12-310001504619us-gaap:RevolvingCreditFacilityMemberpflt:PennantParkSeniorSecuredLoanFundIILLCMember2025-11-012025-11-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MDI Buyer, Inc. - Unfunded Term Loan Acquisition 3/16/2023 Maturity 07/25/2028 Industry Commodity Chemicals2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Project Granite Buyer, Inc. - Unfunded Revolver Acquisition 12/31/2024 Maturity 12/31/2030 Industry Professional Services2024-10-012025-09-300001504619us-gaap:FairValueInputsLevel1Memberpflt:TwoThousandAndThirtySixAssetBackedDebtMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants StellPen Holdings, LLC (CF512, Inc.) - Common Equity Acquisition 10/1/2025 Industry Media2025-10-012025-12-310001504619pflt:MetalsAndMiningMember2025-09-300001504619First Lien Secured Debt Issuer Name Case Works, LLC Acquisition 11/18/2025 Maturity 10/1/2029 Industry Professional Services Current Coupon 8.92% Basis Point Spread Above Index SOFR+5252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Imagine Topco. LP - Common Equity Acquisition 11/4/2021 Industry Software2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Systems Planning And Analysis, Inc. - Unfunded Revolver Acquisition 10/12/2021 Maturity 08/16/2027 Industry Aerospace and Defense2025-10-012025-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:TwoThousandTwentySixNotesPayableMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rosco Parent, LLC Acquisition 9/9/2025 Maturity 9/12/2031 Industry Business Services Current Coupon 8.81%2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt First Medical MSO, LLC - Unfunded Revolver Acquisition 06/13/2025 Maturity 06/13/2031 Industry Healthcare Providers and Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Pink Lily Holdco, LLC Acquisition 11/30/2021 Maturity 11/9/2027 Industry Textiles, Apparel and Luxury Goods Current Coupon 4.35%2025-09-300001504619First Lien Secured Debt Issuer Name Output Services Group, Inc. - First-Out Term Loan Acquisition 12/1/2023 Maturity 11/30/2028 Industry Business Services Current Coupon 12.16% Basis Point Spread Above Index SOFR+8422025-10-012025-12-310001504619First Lien Secured Debt Issuer Name SV-Aero Holdings, LLC Acquisition 10/31/2024 Maturity 11/1/2030 Industry Aerospace and Defense Current Coupon 9.00% Basis Point Spread Above Index SOFR+5002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Systems Planning And Analysis, Inc. - Funded Revolver Acquisition 10/12/2021 Maturity 8/16/2027 Industry Aerospace and Defense Current Coupon 8.90% Basis Point Spread Above Index 3M SOFR+ 4752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Azureon, LLC (F/K/A Tpcn Midco, LLC) Acquisition 6/26/2024 Maturity 06/26/2029 Industry Diversified Consumer Services Current Coupon 9.43% Basis Point Spread Above Index 3M SOFR+ 5752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sales Benchmark Index, LLC Acquisition 12/23/2019 Maturity 7/7/2026 Industry Professional Services Current Coupon 10.20% Basis Point Spread Above Index 3M SOFR+ 6002024-10-012025-09-300001504619pflt:SoftwareMember2025-09-300001504619Subordinate Debt Issuer Name Wash & Wax Systems LLC Acquisition 4/30/2025 Maturity 7/30/2028 Industry Automobiles Current Coupon 12.00%2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Output Services Group, Inc. - Common Equity Acquisition 11/30/2023 Industry Business Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name GGG MIDCO, LLC Acquisition 11/18/2025 Maturity 9/27/2030 Industry Diversified Consumer Services Current Coupon 8.67% Basis Point Spread Above Index SOFR+5002025-12-310001504619pflt:JPMorganUSDLiquidityInstMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants HPA SPQ Aggregator, LP - Common Equity Acquisition 6/8/2023 Industry Professional Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity UniTek Global Services, Inc. - Senior Preferred Equity Acquisition 1/13/2015 Industry Telecommunications Current Coupon 19.00%2025-10-012025-12-310001504619pflt:CapitalEquipmentMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt EDS Buyer, LLC. - Unfunded Revolver Acquisition 12/19/2022 Maturity 1/10/2029 Industry Electronic Equipment, Instruments, and Components2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Five Star Parent Holdings, LLC - Preferred (Class P) Acquisition 2/21/2023 Industry Hotels, Restaurants and Leisure2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Global Holdings InterCo, LLC Acquisition 03/11/2021 Maturity 03/16/2026 Industry Diversified Financial Services Current Coupon 9.74% Basis Point Spread Above Index 1M SOFR+ 5602024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Pacific Purchaser, LLC Acquisition 11/18/2025 Maturity 10/2/2028 Industry Professional Services Current Coupon 9.85% Basis Point Spread Above Index SOFR+6252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants FedHC InvestCo, LP - Common Equity Acquisition 8/26/2021 Industry Aerospace and Defense2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Emergency Care Partners, LLC - Unfunded Revolver Acquisition 10/18/2024 Maturity 10/18/2027 Industry Healthcare Providers and Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MDI Buyer, Inc. Acquisition 3/16/2023 Maturity 07/25/2028 Industry Commodity Chemicals Current Coupon 8.75% Basis Point Spread Above Index 3M SOFR+ 4752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Graffiti Buyer, Inc. Acquisition 8/9/2021 Maturity 8/10/2027 Industry Trading Companies & Distributors Current Coupon 9.29% Basis Point Spread Above Index 3M SOFR+ 5602025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Amsive Holdings Corporation Acquisition 3/2/2020 Maturity 12/10/2026 Industry Media Current Coupon 9.92% Basis Point Spread Above Index 3M SOFR+ 6252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt RTIC Subsidiary Holdings, LLC Acquisition 5/3/2024 Maturity 5/3/2029 Industry Leisure Products Current Coupon 9.75% Basis Point Spread Above Index 3M SOFR+ 5752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Amsive Holdings Corporation Acquisition 3/2/2020 Maturity 12/10/2026 Industry Media Current Coupon 10.35% Basis Point Spread Above Index 3M SOFR+ 6252024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Safe Haven Defense US, LLC - Unfunded Revolver Acquisition 5/23/2024 Maturity 5/23/2029 Industry Building Products2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Commercial Fire Protection Holdings, LLC - Unfunded Revolver Acquisition 9/23/2024 Maturity 9/23/2030 Industry Commercial Services & Supplies2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Icon Partners V C, LP - Unfunded Common Equity Acquisition 12/20/2021 Industry Internet Software and Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Sabel InvestCo, LP. - Common Equity Acquisition 5/23/2024 Industry Government Services2025-12-310001504619First Lien Secured Debt Issuer Name Aechelon Technology, Inc. Acquisition 4/10/2025 Maturity 8/16/2029 Industry Aerospace and Defense Current Coupon 9.47% Basis Point Spread Above Index SOFR+5752025-12-310001504619First Lien Secured Debt Issuer Name MAG DS Corp. Acquisition 9/27/2023 Maturity 04/01/2027 Industry Aerospace and Defense Current Coupon 9.27% Basis Point Spread Above Index SOFR+5602025-10-012025-12-310001504619pflt:SBADebenturesMember2024-07-252024-07-250001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carisk Buyer, Inc. - Unfunded Term Loan Acquisition 11/27/2023 Maturity 12/3/2029 Industry Healthcare Technology2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Sabel InvestCo, LP. - Unfunded Common Equity Acquisition 12/23/2019 Industry Government Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Aphix Buyer, Inc. - Unfunded Revolver Acquisition 7/17/2025 Maturity 07/17/2031 Industry Business Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants By Light Investco LP - Common Equity Acquisition 5/15/2017 Industry High Tech Industries2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Beacon Behavioral Support Services, LLC - Unfunded Term Loan - 3rd Amendment Acquisition 6/21/2024 Maturity 06/21/2027 Industry Healthcare Providers and Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Paving Lessor Corp. Acquisition 7/1/2025 Maturity 07/01/2031 Industry Business Services Current Coupon 8.94% Basis Point Spread Above Index 3M SOFR+ 5252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants EDS Topco, LP - Common Equity Acquisition 12/19/2022 Industry Electronic Equipment, Instruments, and Components2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Project Granite Buyer, Inc. Acquisition 5/22/2025 Maturity 12/31/2030 Industry Professional Services Current Coupon 9.42% Basis Point Spread Above Index SOFR+5752025-12-310001504619pflt:BlackrockLiquidityFedFundInstMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt North American Rail Solutions, LLC - Unfunded Term Loan Acquisition 8/29/2025 Maturity 08/29/2027 Industry Manufacturing/Basic Industry2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Inovex Information Systems Incorporated - Unfunded Term Loan Acquisition 12/17/2024 Maturity 12/17/2026 Industry Software2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Pink Lily Holdco, LLC - Preferred Equity - Class A-1 Acquisition 11/5/2021 Industry Textiles, Apparel and Luxury Goods2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Medina Health, LLC Acquisition 11/6/2023 Maturity 10/20/2028 Industry Healthcare and Pharmaceuticals Current Coupon 10.25% Basis Point Spread Above Index SOFR+6252024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cf512, Inc. - Funded Revolver Acquisition 8/17/2021 Maturity 8/20/2026 Industry Media Current Coupon 9.74% Basis Point Spread Above Index 3M SOFR+ 6022025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Anteriad, LLC (f/k/a MeritDirect, LLC) Acquisition 5/21/2019 Maturity 06/30/2026 Industry Media Current Coupon 9.57% Basis Point Spread Above Index 3M SOFR+ 5902025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cartessa Aesthetics, LLC - Unfunded Revolver Acquisition 6/1/2022 Maturity 6/14/2028 Industry Distributors2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Harris & Co. LLC - Unfunded Term Loan C Acquisition 8/9/2024 Maturity 8/18/2027 Industry Professional Services2025-10-012025-12-310001504619pflt:RTwoThousandAndThirtySixAssetBackedDebtMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt GGG Midco, LLC – Unfunded Revolver Acquisition 09/27/2024 Maturity 09/27/2030 Industry Diversified Consumer Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt North American Rail Solutions, LLC - Unfunded Term Loan Acquisitions 8/29/2025 Maturity 08/29/2027 Industry Manufacturing/Basic Industry2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name The Vertex Companies, LLC Acquisition 11/18/2025 Maturity 8/31/2028 Industry Construction and Engineering Current Coupon 8.82% Basis Point Spread Above Index SOFR+5102025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cartessa Aesthetics, LLC Acquisition 6/1/2022 Maturity 06/14/2028 Industry Distributors Current Coupon 10.00% Basis Point Spread Above Index 3M SOFR+ 6002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Podean Buyer, LLC Acquisition 8/4/2025 Maturity 8/4/2031 Industry Marketing Services Current Coupon 10.00% Basis Point Spread Above Index 3M SOFR+ 6002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt LJ Avalon Holdings, LLC Acquisition 1/18/2023 Maturity 02/01/2030 Industry Construction & Engineering Current Coupon 8.29% Basis Point Spread Above Index 3M SOFR+ 4502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carisk Buyer, Inc. - Unfunded Revolver Acquisition 11/27/2023 Maturity 12/03/2029 Industry Healthcare Technology2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt HEC Purchaser Corp. Acquisition 6/17/2024 Maturity 06/17/2029 Industry Healthcare, Education and Childcare Current Coupon 8.87% Basis Point Spread Above Index 3M SOFR+ 5002024-10-012025-09-300001504619pflt:ClassA1RNotesMemberpflt:RTwoThousandAndThirtySixAssetBackedDebtMember2024-07-250001504619First Lien Secured Debt Issuer Name Imagine Acquisitionco, Inc. Acquisition 3/15/2022 Maturity 11/15/2027 Industry Software Current Coupon 8.98% Basis Point Spread Above Index SOFR+5102025-10-012025-12-310001504619pflt:ClassA-1NotesMemberpflt:PennantParkCLO12LLCMember2025-04-012025-04-300001504619pflt:ClassDSecuredDeferrableFloatingRateNotesMemberpflt:TwoThousandAndThirtySixAssetBackedDebtMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Connatix Parent, LLC - Common Equity Acquisition 7/8/2021 Industry Media2025-09-300001504619First Lien Secured Debt Issuer Name OSP Embedded Purchaser, LLC Acquisition 11/19/2024 Maturity 12/17/2029 Industry Aerospace and Defense Current Coupon 9.76% Basis Point Spread Above Index SOFR+5752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Systems Planning And Analysis, Inc. - Funded Revolver Acquisition 10/12/2021 Maturity 8/16/2027 Industry Aerospace and Defense Current Coupon 8.90% Basis Point Spread Above Index 3M SOFR+ 4752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt LJ Avalon Holdings, LLC - Unfunded Revolver Acquisition 1/18/2023 Maturity 02/01/2029 Industry Construction & Engineering2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants NFS - CFP Holdings LLC - Common Equity Acquisition 9/13/2024 Industry Commercial Services & Supplies2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MOREgroup Holdings, Inc. Acquisition 1/9/2024 Maturity 01/16/2030 Industry Construction & Engineering Current Coupon 9.31% Basis Point Spread Above Index 3M SOFR+ 5252024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Podean Intermediate II, LLC - Common Equity Acquisition 8/4/2025 Industry Marketing Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Exigo Intermediate II, LLC Acquisition 11/21/2022 Maturity 3/15/2027 Industry Software Current Coupon 10.51% Basis Point Spread Above Index SOFR+6352025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Coolsys, Inc. Acquisition 8/27/2025 Maturity 8/11/2028 Industry Commercial Services & Supplies Current Coupon 8.63% Basis Point Spread Above Index 3M SOFR+ 5012025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Impact Advisors, LLC - Unfunded Revolver Acquisition 3/21/2025 Maturity 03/19/2032 Industry Business Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ETE Intermediate II, LLC Acquisition 5/24/2023 Maturity 5/29/2029 Industry Diversified Consumer Services Current Coupon 8.72% Basis Point Spread Above Index 3M SOFR+ 5002025-12-310001504619pflt:ClassDNotesMemberpflt:PennantParkCLO12LLCMember2025-04-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt ORL Holdco, Inc. - Convertible Notes Acquisition 8/2/2024 Maturity 03/08/2028 Industry Consumer Finance Current Coupon 18.00%2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PD Tri-State Holdco, LLC - Unfunded Revolver Acquisition 10/14/2025 Maturity 10/14/2030 Industry Diversified Consumer Services2025-12-310001504619pflt:CashAndCashEquivalentMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TCG 3.0 Jogger Acquisitionco, Inc. - Unfunded Revolver Acquisition 1/23/2024 Maturity 1/23/2029 Industry Media Current Coupon 9.56%2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Aechelon InvestCo, LP - Unfunded Common Equity Acquisition 8/16/2024 Industry Aerospace and Defense2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Watchtower Holdings, LLC - Common Equity Acquisition 6/14/2021 Industry Electronic Equipment, Instruments, and Components2025-12-310001504619pflt:GoldmanSachsFinancialSquareGovernmentFundOneMember2025-12-310001504619us-gaap:GovernmentMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt CJX Borrower, LLC - Unfunded Term Loan Acquisition 7/8/2021 Maturity 07/13/2027 Industry Media2025-09-300001504619First Lien Secured Debt Issuer Name Cartessa Aesthetics, LLC Acquisition 4/11/2023 Maturity 6/14/2028 Industry Distributors Current Coupon 10.00% Basis Point Spread Above Index SOFR+6002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Gauge Loving Tan, LP - Common Equity Acquisition 5/25/2023 Industry Personal Products2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt STG Distribution, LLC - First Out New Money Term Loans Acquisition 8/27/2025 Maturity 10/03/2029 Industry Air Freight and Logistics2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Gauge Loving Tan, LP - Common Equity Acquisition 5/25/2023 Industry Personal Products2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Meadowlark Acquirer, LLC- Funded Revolver Acquisition 12/9/2021 Maturity 12/10/2027 Industry Professional Services Current Coupon 9.65% Basis Point Spread Above Index 3M SOFR+ 5652025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Bioderm, Inc. - Funded Revolver Acquisition 1/30/2023 Maturity 01/31/2028 Industry Healthcare Equipment and Supplies Current Coupon 10.36% Basis Point Spread Above Index 1M SOFR+ 6502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cornerstone Advisors of Arizona, LLC Acquisition 5/13/2025 Maturity 5/13/2032 Industry Consulting Services Current Coupon 8.42% Basis Point Spread Above Index 3M SOFR+ 4752025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Arcfield Acquisition Corp. Acquisition 11/11/2024 Maturity 10/28/2031 Industry Aerospace and Defense Current Coupon 9.31% Basis Point Spread Above Index SOFR+5002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Seacoast Service Partners NA, LLC - Funded Revolver Acquisition 12/20/2024 Maturity 12/20/2029 Industry Diversified Consumer Services Current Coupon 9.00% Basis Point Spread Above Index 3M SOFR+ 5002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Eval Home Care Solutions Intermediate, LLC Acquisition 05/10/2024 Maturity 05/10/2030 Industry Healthcare, Education and Childcare Current Coupon 9.91% Basis Point Spread Above Index 1M SOFR+ 5752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Megawatt Acquisitionco, Inc. - Funded Revolver Acquisition 3/1/2024 Maturity 03/01/2030 Industry Electronic Equipment, Instruments, and Components Current Coupon 9.67% Basis Point Spread Above Index 3M SOFR+ 5502024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Bioderm, Inc. - Funded Revolver Acquisition 1/30/2023 Maturity 01/31/2028 Industry Healthcare Equipment and Supplies Current Coupon 10.36% Basis Point Spread Above Index 1M SOFR+ 6502025-10-012025-12-310001504619pflt:AtTheMarketOfferingMember2024-10-012024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ad.net Acquisition, LLC - Unfunded Revolver Acquisition 5/4/2021 Maturity 05/07/2026 Industry Media2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Watchtower Holdings, LLC - Common Equity Acquisition 11/29/2023 Industry Electronic Equipment, Instruments, and Components2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name EvAL Home Care Solutions Intermediate, LLC Acquisition 7/10/2024 Maturity 5/10/2030 Industry Healthcare and Pharmaceuticals Current Coupon 9.91% Basis Point Spread Above Index SOFR+5752025-09-300001504619First Lien Secured Debt Issuer Name CF512, Inc. Acquisition 12/27/2021 Maturity 08/20/2026 Industry Media Current Coupon 9.98% Basis Point Spread Above Index SOFR+6192025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Meadowlark Title, LLC - Common Equity Acquisition 12/9/2021 Industry Professional Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants NXOF Holdings, Inc. - Common Equity Acquisition 9/25/2018 Industry IT Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity HPA SPQ Aggregator, LP - Preferred Equity Acquisition 6/8/2023 Industry Professional Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Harris & Co. LLC. - Unfunded Term Loan B Acquisition 8/9/2024 Maturity 2/9/2026 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Marketplace Events Acquisition, LLC - Common Equity Acquisition 12/19/2024 Industry Media: Diversified and Production2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Burgess Point Holdings, LP - Common Equity Acquisition 7/21/2022 Industry Auto Components2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ACP Avenu Buyer, LLC - Unfunded Revolver Acquisition 10/2/2023 Maturity 10/02/2029 Industry IT Services2025-09-300001504619pflt:PersonalProductsMember2025-12-310001504619First Lien Secured Debt Issuer Name CJX Borrower, LLC Acquisition 7/29/2021 Maturity 07/13/2027 Industry Media Current Coupon 9.70% Basis Point Spread Above Index SOFR+5762025-12-310001504619pflt:TwoThousandAndThirtySevenAssetBackedDebtMemberpflt:ClassDNotesMember2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Dynata, LLC - Last Out Term Loan Acquisition 7/15/2024 Maturity 10/16/2028 Industry Diversified Consumer Services Current Coupon 9.96% Basis Point Spread Above Index SOFR+5762024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Project Granite Buyer, Inc. - Unfunded Term Loan Acquisition 12/31/2024 Maturity 12/31/2026 Industry Professional Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Azureon, LLC (F/K/A Tpcn Midco, LLC) - Funded Revolver Acquisition 6/26/2024 Maturity 06/26/2029 Industry Diversified Consumer Services Current Coupon 9.75% Basis Point Spread Above Index 3M SOFR+ 5752024-10-012025-09-300001504619First Lien Secured Debt Issuer Name TMII Enterprises, LLC Acquisition 4/11/2023 Maturity 12/22/2028 Industry Commercial Services & Supplies Current Coupon 8.22% Basis Point Spread Above Index SOFR+4502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Arcfield Acquisition Corp. - Unfunded Revolver Acquisition 10/28/2024 Maturity 10/28/2031 Industry Aerospace and Defense2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Consello Pacific Aggregator, LLC - Preferred Equity Acquisition 10/2/2023 Industry Professional Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants New Medina Health, LLC - Common Equity Acquisition 10/16/2023 Industry Healthcare Providers and Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cartessa Aesthetics, LLC - Unfunded Revolver Acquisition 6/1/2022 Maturity 06/14/2028 Industry Distributors2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Hills Distribution, Inc. Acquisition 12/2/2025 Maturity 11/8/2029 Industry Distributors Current Coupon 9.19% Basis Point Spread Above Index SOFR+5502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants GCP Boss Holdco, LLC Acquisition 12/27/2024 Industry Independent Power and Renewable Electricity Producers2025-09-300001504619pflt:BlackrockLiqFedfundGovCLInstMember2025-09-300001504619vInvestments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ad.net Acquisition, LLC - Funded Revolver Acquisition 5/4/2021 Maturity 05/07/2026 Industry Media Current Coupon 10.26% Basis Point Spread Above Index 3M SOFR+ 6262024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Emergency Care Partners, LLC Acquisition 10/18/2024 Maturity 10/18/2027 Industry Healthcare Providers and Services Current Coupon 8.72% Basis Point Spread Above Index 3M SOFR+ 5002025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Azureon, LLC (F/K/A Tpcn Midco, LLC) Acquisition 4/10/2025 Maturity 6/26/2029 Industry Diversified Consumer Services Current Coupon 9.42% Basis Point Spread Above Index SOFR+5752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TransGo, LLC - Unfunded Revolver Acquisition 12/29/2023 Maturity 12/29/2028 Industry Auto Components2025-09-300001504619pflt:JPMorganUSDLiquidityInstMember2025-09-300001504619us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2025-12-310001504619First Lien Secured Debt Issuer Name Marketplace Events Acquisition, LLC Acquisition 1/13/2025 Maturity 12/19/2030 Industry Media Current Coupon 9.12% Basis Point Spread Above Index SOFR+5252024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Peninsula Pacific Entertainment, LLC - Unfunded Term Loan Acquisition 8/15/2025 Maturity 8/25/2027 Industry Gaming2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt BLC Holding Company, Inc. Acquisition 11/20/2024 Maturity 11/20/2030 Industry Business Services Current Coupon 8.50% Basis Point Spread Above Index 3M SOFR+ 4502024-10-012025-09-300001504619us-gaap:FinancingReceivables30To59DaysPastDueMember2025-12-310001504619First Lien Secured Debt Issuer Name Halo Buyer, Inc. Acquisition 5/22/2025 Maturity 8/7/2029 Industry Consumer Products Current Coupon 10.16% Basis Point Spread Above Index SOFR+6002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants TAC Lifeport Holdings, LLC - Common Equity Acquisition 2/24/2021 Industry Aerospace and Defense2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Loving Tan Intermediate II, Inc. - Funded Revolver Acquisition 5/24/2023 Maturity 05/31/2028 Industry Personal Products Current Coupon 9.00% Basis Point Spread Above Index 3M SOFR+ 5002025-09-300001504619First Lien Secured Debt Issuer Name BLC Holding Company, Inc. Acquisition 11/18/2025 Maturity 11/20/2030 Industry Commercial Services & Supplies Current Coupon 8.17% Basis Point Spread Above Index SOFR+4502025-12-310001504619pflt:PennantParkSeniorSecuredLoanFundILLCMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Emergency Care Partners, LLC Acquisition 10/18/2024 Maturity 10/18/2027 Industry Healthcare Providers and Services Current Coupon 8.72% Basis Point Spread Above Index 3M SOFR+ 5002025-12-310001504619pflt:LongTermCreditFacilityMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants TPC Holding Company, LP - Common Equity Acquisition 10/27/2021 Industry Food Products2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PlayPower, Inc. Acquisition 8/28/2024 Maturity 8/28/2030 Industry Leisure Products Current Coupon 9.25% Basis Point Spread Above Index 1M SOFR+ 5252025-09-300001504619us-gaap:CashAndCashEquivalentsMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TMII Enterprises, LLC Acquisition 12/19/2022 Maturity 12/22/2028 Industry Commercial Services & Supplies Current Coupon 8.66% Basis Point Spread Above Index 3M SOFR+ 4502024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Capital Construction, LLC Acquisition 6/30/2025 Maturity 10/22/2026 Industry Consumer Services Current Coupon 9.56% Basis Point Spread Above Index 3M SOFR+ 5902025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Ironclad Holdco, LLC - Common Equity Acquisition 12/23/2020 Industry Commercial Services & Supplies2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Omnia Exterior Solutions, LLC Acquisition 11/1/2024 Maturity 12/31/2029 Industry Diversified Consumer Services Current Coupon 9.26% Basis Point Spread Above Index SOFR+5252025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt LAV Gear Holdings, Inc. Acquisition 7/31/2025 Maturity 07/31/2029 Industry Capital Equipment Current Coupon 9.65% Basis Point Spread Above Index 1M SOFR+ 5952025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Accounting Platform Holdings, Inc. - Preferred Equity - Series A Acquisition 8/9/2024 Industry Professional Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Kinetic Purchaser, LLC Acquisition 11/8/2021 Maturity 11/10/2027 Industry Personal Products Current Coupon 9.82% Basis Point Spread Above Index 3M SOFR+ 6152025-12-310001504619First Lien Secured Debt Issuer Name Meadowlark Acquirer, LLC Acquisition 1/29/2022 Maturity 12/10/2027 Industry Professional Services Current Coupon 9.32% Basis Point Spread Above Index SOFR+5652025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Gauge Schlesinger Coinvest, LLC - Common Equity Acquisition 4/22/2020 Industry Professional Services2025-12-310001504619First Lien Secured Debt Issuer Name DRI Holding Inc. Acquisition 9/15/2022 Maturity 12/21/2028 Industry Media Current Coupon 9.07% Basis Point Spread Above Index SOFR+5352025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Icon Partners V C, LP - Unfunded Common Equity Acquisition 12/20/2021 Industry Internet Software and Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Events TopCo, LP - Common Equity Acquisition 12/17/2024 Industry Event Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Meadowlark Acquirer, LLC - Funded Revolver Acquisition 12/9/2021 Maturity 12/10/2027 Industry Professional Services Current Coupon 9.32% Basis Point Spread Above Index 3M SOFR+ 5652025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt NORA Acquisition, LLC Acquisition 8/22/2023 Maturity 08/31/2029 Industry Healthcare Providers and Services Current Coupon 10.41% Basis Point Spread Above Index 3M SOFR+ 6352024-10-012025-09-300001504619pflt:ElectronicEquipmentInstrumentsAndComponentsMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Aphix Buyer, Inc. - Unfunded Term Loan Acquisition 7/17/2025 Maturity 07/16/2027 Industry Business Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Loving Tan Intermediate II, Inc. Acquisition 5/24/2023 Maturity 05/31/2028 Industry Personal Products Current Coupon 9.00% Basis Point Spread Above Index 3M SOFR+ 5002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Lightspeed Investment Holdco, LLC - Common Equity Acquisition 1/21/2020 Industry Healthcare Technology2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt NORA Acquisition, LLC Acquisition 8/22/2023 Maturity 08/31/2029 Industry Healthcare Providers and Services Current Coupon 10.02% Basis Point Spread Above Index 3M SOFR+ 6352025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Kinetic Purchaser, LLC - Common Equity - Class AA Acquisition 11/8/2021 Industry Personal Products2025-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:ValuationTechniqueMarketComparableMemberpflt:MeasurementInputMarketYieldMemberpflt:SecondLienMembersrt:MaximumMember2025-09-300001504619First Lien Secured Debt Issuer Name Kinetic Purchaser, LLC Acquisition 11/30/2021 Maturity 11/10/2027 Industry Personal Products Current Coupon 10.15% Basis Point Spread Above Index SOFR+6152025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Second Lien Secured Debt Team Services Group, LLC - 2nd Lien Acquisition 2/25/2024 Maturity 12/18/2028 Industry Healthcare Providers and Services Current Coupon 13.57% Basis Point Spread Above Index 3M SOFR+ 9262025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants ACP Big Top Holdings, LP - Common Equity Acquisition 2/29/2024 Industry Construction & Engineering2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Carnegie HoldCo, LLC Acquisition 2/7/2024 Industry Professional Services2025-12-310001504619First Lien Secured Debt Issuer Name C5MI Acquisition, LLC Acquisition 3/7/2025 Maturity 7/31/2029 Industry IT Services Current Coupon 9.67% Basis Point Spread Above Index SOFR+6002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Megawatt Acquisitionco, Inc. - Funded Revolver Acquisition 3/1/2024 Maturity 03/01/2030 Industry Electronic Equipment, Instruments, and Components Current Coupon 9.67% Basis Point Spread Above Index 3M SOFR+ 5502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt LJ Avalon Holdings, LLC Acquisition 1/18/2023 Maturity 02/01/2030 Industry Construction & Engineering Current Coupon 8.67% Basis Point Spread Above Index 3M SOFR+ 4502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Athletico Holdings, LLC - Common Equity Acquisition 2/4/2022 Industry Healthcare Providers and Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt BLC Holding Company, Inc. - Unfunded Term Loan Acquisition 11/20/2024 Maturity 11/20/2026 Industry Business Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants GMP Hills, LP - Common Equity Acquisition 11/2/2023 Industry Distributors2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sales Benchmark Index, LLC - Funded Revolver Acquisition 12/23/2019 Maturity 7/7/2026 Industry Professional Services Current Coupon 9.20% Basis Point Spread Above Index 3M SOFR+ 5202025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants QuantiTech InvestCo, LP - Unfunded Common Equity Acquisition 10/3/2022 Industry Aerospace and Defense2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Blackhawk Industrial Distribution, Inc. Acquisition 6/30/2022 Maturity 9/17/2026 Industry Distributors Current Coupon 9.40% Basis Point Spread Above Index SOFR+5402024-10-012025-09-300001504619pflt:SecondLienMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants HPA SPQ Aggregator, LP - Common Equity Acquisition 6/8/2023 Industry Professional Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Halo Buyer, Inc. - Funded Revolver Acquisition 2/7/2025 Maturity 8/7/2029 Industry Consumer products Current Coupon 9.72% Basis Point Spread Above Index 1M SOFR+ 6002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Systems Planning And Analysis, Inc. Acquisition 10/12/2021 Maturity 8/16/2027 Industry Aerospace and Defense Current Coupon 8.75% Basis Point Spread Above Index 3M SOFR+ 4752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Seaway Buyer, LLC Acquisition 7/25/2024 Maturity 6/13/2029 Industry Chemicals, Plastics and Rubber Current Coupon 10.17% Basis Point Spread Above Index 3M SOFR+ 6152024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Burgess Point Purchaser Corporation Acquisition 10/3/2022 Maturity 7/25/2029 Industry Automotive Current Coupon 9.19% Basis Point Spread Above Index SOFR+5352025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Kinetic Purchaser, LLC - Common Equity - Class A Acquisition 11/8/2021 Industry Personal Products2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Safe Haven Defense US, LLC Acquisition 5/23/2024 Maturity 5/23/2029 Industry Building Products Current Coupon 9.50% Basis Point Spread Above Index 3M SOFR+ 5252024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Emergency Care Partners, LLC - Unfunded Revolver Acquisition 10/18/2024 Maturity 10/18/2027 Industry Healthcare Providers and Services2025-12-310001504619First Lien Secured Debt Issuer Name NORA Acquisition, LLC Acquisition 10/2/2023 Maturity 8/31/2029 Industry Healthcare Providers and Services Current Coupon 10.35% Basis Point Spread Above Index SOFR+6352025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MDI Buyer, Inc. - Funded Revolver Acquisition 7/19/2022 Maturity 07/25/2028 Industry Commodity Chemicals Current Coupon 11.50% Basis Point Spread Above Index 3M SOFR+ 4002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt SV-Aero Holdings, LLC Acquisition 10/31/2024 Maturity 11/01/2030 Industry Aerospace and Defense Current Coupon 8.67% Basis Point Spread Above Index 3M SOFR+ 5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Consello Pacific Aggregator, LLC - Preferred Equity Acquisition 10/2/2023 Industry Professional Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Carisk Parent, LP - Common Equity Acquisition 11/27/2023 Industry Healthcare Technology2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt RTIC Subsidiary Holdings, LLC - Unfunded Revolver Acquisition 5/3/2024 Maturity 5/3/2029 Industry Leisure Products2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants KL Stockton Co-Invest, LP - Common Equity Acquisition 7/16/2021 Industry Energy Equipment and Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ACP Avenu Buyer, LLC Acquisition 10/2/2023 Maturity 10/02/2029 Industry IT Services Current Coupon 8.41% Basis Point Spread Above Index 3M SOFR+ 4752025-12-310001504619First Lien Secured Debt Issuer Name Blackhawk Industrial Distribution, Inc. Acquisition 6/30/2022 Maturity 9/17/2026 Industry Distributors Current Coupon 9.40% Basis Point Spread Above Index SOFR+5402025-09-300001504619First Lien Secured Debt Issuer Name MOREgroup Holdings, Inc. Acquisition 3/22/2024 Maturity 1/16/2030 Industry Business Services Current Coupon 9.25% Basis Point Spread Above Index SOFR+5252024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants UniTek Global Services, Inc. - Common Equity Acquisition 1/13/2015 Industry Telecommunications2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Exigo, LLC - Common Equity Acquisition 3/10/2022 Industry Software2024-10-012025-09-300001504619pflt:LongTermCreditFacilityMember2024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Output Services Group, Inc. - Last-out Term Loan Acquisition 11/30/2023 Maturity 05/30/2028 Industry Business Services Current Coupon 10.41% Basis Point Spread Above Index 3M SOFR+ 6682025-12-310001504619pflt:PriorCreditFacilityMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sabel Systems Technology Solutions, LLC Acquisition 10/31/2024 Maturity 10/31/2030 Industry Government Services Current Coupon 9.77% Basis Point Spread Above Index 3M SOFR+ 5752025-09-3000015046192024-12-012024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity SP L2 Holdings, LLC - Preferred Equity Acquisition 11/4/2021 Industry Leisure Products2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt OSP Embedded Purchaser, LP - Convertible Note Acquisition 11/6/2024 Maturity 05/08/2030 Industry Aerospace and Defense Current Coupon 12.00%2025-10-012025-12-310001504619pflt:CapitalEquipmentMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt LAV Gear Holdings, Inc. - Unfunded Revolver Acquisition 7/31/2025 Maturity 07/31/2029 Industry Capital Equipment2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carisk Buyer, Inc. - Unfunded Revolver Acquisition 11/27/2023 Maturity 12/3/2029 Industry Healthcare Technology2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Tyto Athene, LLC Acquisition 5/5/2021 Maturity 4/3/2028 Industry IT Services Current Coupon 9.19% Basis Point Spread Above Index SOFR+4902025-09-300001504619Subordinate Debt Issuer Name Integrative Nutrition, LLC Acquisition 4/17/2025 Maturity 4/15/2033 Industry Diversified Consumer Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Marketplace Events Acquisition, LLC Acquisition 12/19/2024 Maturity 12/19/2030 Industry Media Current Coupon 8.95% Basis Point Spread Above Index 3M SOFR+ 5252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sigma Defense Systems, LLC - Unfunded Revolver Acquisition 11/30/2021 Maturity 12/20/2027 Industry IT Services2025-09-300001504619First Lien Secured Debt Issuer Name Aechelon Technology, Inc. Acquisition 4/10/2025 Maturity 8/16/2029 Industry Aerospace and Defense Current Coupon 9.91% Basis Point Spread Above Index SOFR+5752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rancho Health MSO, Inc. - Unfunded Term Loan Acquisition 12/20/2024 Maturity 6/30/2026 Industry Healthcare Equipment and Supplies2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name RRA Corporate, LLC Acquisition 4/10/2025 Maturity 8/15/2029 Industry Diversified Consumer Services Current Coupon 9.25% Basis Point Spread Above Index SOFR+5252024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Arcfield Acquisition Corp. Acquisition 11/11/2024 Maturity 10/28/2031 Industry Aerospace and Defense Current Coupon 8.84% Basis Point Spread Above Index SOFR+5002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Five Star Parent Holdings, LLC - Common Equity Acquisition 2/21/2023 Industry Hotels, Restaurants and Leisure2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carnegie Dartlet, LLC - Unfunded Term Loan Acquisition 2/7/2024 Maturity 02/09/2026 Industry Professional Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Infinity Home Services Holdco, Inc. Acquisition 12/21/2022 Maturity 12/28/2028 Industry Commercial Services & Supplies Current Coupon 9.17% Basis Point Spread Above Index 3M SOFR+ 5502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity TPC Holding Company, LP - Preferred Equity Acquisition 12/4/2019 Industry Food Products2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name EDS Buyer, LLC Acquisition 4/11/2023 Maturity 1/10/2029 Industry Electronic Equipment, Instruments, and Components Current Coupon 8.75% Basis Point Spread Above Index SOFR+4752024-10-012025-09-300001504619pflt:PersonalProductsMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MBS Holdings, Inc. Acquisition 4/7/2025 Maturity 04/16/2027 Industry Internet Software and Services Current Coupon 9.30% Basis Point Spread Above Index 3M SOFR+ 5102024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity NXOF Holdings, Inc. - Preferred Equity Acquisition 9/25/2018 Industry IT Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sath Industries, LLC Acquisition 12/17/2024 Maturity 12/17/2029 Industry Event Services Current Coupon 9.19% Basis Point Spread Above Index 3M SOFR+ 5502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Azureon Holdings, LLC Acquisition 6/26/2024 Industry Diversified Consumer Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Pragmatic Institute, LLC Acquisition 7/5/2022 Maturity 3/28/2030 Industry Professional Services Current Coupon 9.50%2024-10-012025-09-300001504619pflt:PennantParkSeniorSecuredLoanFundILLCMemberpflt:InvestmentInSinglePortfolioCompanyMember2025-09-300001504619First Lien Secured Debt Issuer Name LJ Avalon Holdings, LLC Acquisition 4/11/2023 Maturity 02/01/2030 Industry Environmental Industries Current Coupon 8.46% Basis Point Spread Above Index SOFR+4502025-10-012025-12-310001504619pflt:PennantParkCLOVILLCMember2025-05-310001504619pflt:CashThirtyPointTwoPercentOfNetAssetsMemberpflt:PennantParkSeniorSecuredLoanFundIILLCMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt BLC Holding Company, Inc. - Unfunded Term Loan Acquisition 11/20/2024 Maturity 11/20/2026 Industry Business Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity SP L2 Holdings, LLC - Preferred Equity Acquisition 11/4/2021 Industry Leisure Products2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Anteriad, LLC (f/k/a MeritDirect, LLC) - Incremental Term Loan Acquisition 5/21/2019 Maturity 06/30/2026 Industry Media Current Coupon 9.57% Basis Point Spread Above Index 3M SOFR+ 5902025-12-310001504619First Lien Secured Debt Issuer Name Alpine Acquisition Corp II Acquisition 10/11/2022 Maturity 11/30/2026 Industry Containers and Packaging2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carnegie Dartlet, LLC Acquisition 2/7/2024 Maturity 2/7/2030 Industry Professional Services Current Coupon 9.22% Basis Point Spread Above Index 3M SOFR+ 5502025-12-310001504619pflt:AdministratorMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Ad.Net Holdings, Inc. - Common Equity Acquisition 5/4/2021 Industry Media2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Loving Tan Intermediate II, Inc. - Funded Revolver Acquisition 5/24/2023 Maturity 05/31/2028 Industry Personal Products Current Coupon 8.69% Basis Point Spread Above Index 3M SOFR+ 5002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ETE Intermediate II, LLC - Funded Revolver Acquisition 05/24/2023 Maturity 05/25/2029 Industry Diversified Consumer Services Current Coupon 9.17% Basis Point Spread Above Index 3M SOFR+ 5002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Output Services Group, Inc. - Last-out Term Loan Acquisition 11/30/2023 Maturity 5/30/2028 Industry Business Services Current Coupon 10.96% Basis Point Spread Above Index 3M SOFR+ 6682024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Wash & Wax Systems, LLC Acquisition 4/30/2025 Maturity 04/30/2028 Industry Consumer Services Current Coupon 9.81% Basis Point Spread Above Index 3M SOFR+ 5502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Riverpoint Medical, LLC - Unfunded Revolver Acquisition 6/19/2019 Maturity 6/21/2027 Industry Healthcare Equipment and Supplies2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Unitek Global Services, Inc. - Warrants Acquisition 1/13/2015 Industry Telecommunications2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Burgess Point Holdings, LP - Common Equity Acquisition 7/21/2022 Industry Auto Components2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Beacon Behavioral Support Services, LLC - Unfunded Revolver Acquisition 6/21/2024 Maturity 06/21/2029 Industry Healthcare Providers and Services2025-09-300001504619pflt:ConsumerProductsMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Loving Tan Intermediate II, Inc. - Unfunded Term Loan Acquisition 5/24/2023 Maturity 07/12/2026 Industry Personal Products2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Aechelon InvestCo, LP - Unfunded Common Equity Acquisition 8/16/2024 Industry Aerospace and Defense2025-12-310001504619First Lien Secured Debt Issuer Name Archer Lewis, LLC Acquisition 11/22/2024 Maturity 8/28/2029 Industry Commercial Services & Supplies Current Coupon 9.75% Basis Point Spread Above Index SOFR+5752025-09-300001504619First Lien Secured Debt Issuer Name PCS MIDCO, Inc. Acquisition 4/10/2025 Maturity 3/1/2030 Industry Diversified Consumer Services Current Coupon 9.75% Basis Point Spread Above Index SOFR+5752024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Schlesinger Global, Inc. Acquisition 9/30/2021 Maturity 10/24/2025 Industry Business Services Current Coupon 12.76% Basis Point Spread Above Index SOFR+8602025-09-300001504619Equity Securities Issuer Name Wash & Wax Group, LP - Common Equity Acquisition 4/30/2025 Industry Automobiles2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt Schlesinger Global, LLC - Promissory Note Acquisition 2/21/2024 Maturity 09/30/2027 Industry Professional Services Current Coupon 12.56% Basis Point Spread Above Index 3M SOFR+ 8602025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PCS MIDCO, Inc. Acquisition 3/1/2024 Maturity 3/1/2030 Industry Professional Services Current Coupon 9.75% Basis Point Spread Above Index 3M SOFR+ 5752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt North American Rail Solutions, LLC - Unfunded Revolver Acquisitions 8/29/2025 Maturity 08/29/2031 Industry Manufacturing/Basic Industry2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Harris & Co. LLC - Unfunded Term Loan C Acquisition 8/9/2024 Maturity 8/18/2027 Industry Professional Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity NXOF Holdings, Inc. - Preferred Equity Acquisition 9/25/2018 Industry IT Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt The Vertex Companies, LLC Acquisition 8/25/2021 Maturity 08/31/2028 Industry Construction & Engineering Current Coupon 8.82% Basis Point Spread Above Index 1M SOFR+ 5102025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Lucky Bucks, LLC - Last-Out Term Loan Acquisition 5/20/2024 Maturity 10/2/2029 Industry Hotel, Gaming and Leisure Current Coupon 11.66% Basis Point Spread Above Index SOFR+7652024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Connatix Parent, LLC Acquisition 7/8/2021 Industry Media2025-09-300001504619First Lien Secured Debt Issuer Name Puget Collision, LLC Acquisition 11/18/2025 Maturity 10/2/2031 Industry Automobiles Current Coupon 8.42% Basis Point Spread Above Index SOFR+4752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants TAC Lifeport Holdings, LLC - Common Equity Acquisition 8/17/2021 Industry Aerospace and Defense2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MDI Buyer, Inc. - Funded Revolver Acquisition 7/19/2022 Maturity 07/25/2028 Industry Commodity Chemicals Current Coupon 11.50% Basis Point Spread Above Index 3M SOFR+ 4002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cf512, Inc. - Funded Revolver Acquisition 8/17/2021 Maturity 08/20/2026 Industry Media Current Coupon 10.18% Basis Point Spread Above Index 3M SOFR+ 6022024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants North Haven Saints Equity Holdings, LP - Common Equity Acquisition 2/25/2022 Industry Healthcare Technology2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Imagine Acquisitionco, Inc. - Unfunded Revolver Acquisition 11/4/2021 Maturity 11/16/2027 Industry Software2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Arcfield Acquisition Corp. Acquisition 10/28/2024 Maturity 10/28/2031 Industry Aerospace and Defense Current Coupon 9.31% Basis Point Spread Above Index 3M SOFR+ 5002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PCS MIDCO, Inc. - Unfunded Term Loan Acquisition 3/1/2024 Maturity 3/2/2026 Industry Professional Services2025-09-300001504619First Lien Secured Debt Issuer Name Project Granite Buyer, Inc. Acquisition 5/22/2025 Maturity 12/31/2030 Industry Professional Services Current Coupon 9.75% Basis Point Spread Above Index SOFR+5752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity UniTek Global Services, Inc. - Preferred Equity Acquisition 1/13/2015 Industry Telecommunications Current Coupon 13.50%2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Peninsula Pacific Entertainment, LLC Acquisition 8/15/2025 Maturity 8/22/2032 Industry Gaming Current Coupon 9.02% Basis Point Spread Above Index 3M SOFR+ 4752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants HPA SPQ Aggregator, LP - Common Equity Acquisition 6/8/2023 Industry Professional Services2025-12-310001504619First Lien Secured Debt Issuer Name Case Works, LLC Acquisition 4/10/2025 Maturity 10/1/2029 Industry Professional Services Current Coupon 8.92% Basis Point Spread Above Index SOFR+5252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Omnia Exterior Solutions, LLC - Unfunded Revolver Acquisitions 12/29/2023 Maturity 12/31/2029 Industry Diversified Consumer Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name HW Holdco, LLC Acquisition 4/11/2023 Maturity 05/11/2026 Industry Media Current Coupon 9.80% Basis Point Spread Above Index SOFR+5902025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PAR Excellence Holdings, Inc. - Unfunded Revolver Acquisition 9/3/2024 Maturity 9/3/2030 Industry Healthcare Technology2025-09-300001504619us-gaap:InvestmentAffiliatedIssuerControlledMemberpflt:FirstLienSecuredDebtMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt GGG Midco, LLC – Unfunded Revolver Acquisition 9/27/2024 Maturity 9/27/2030 Industry Diversified Consumer Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Delta InvestCo, LP - Common Equity Acquisition 12/16/2020 Industry IT Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Halo Buyer, Inc. Acquisition 2/7/2025 Maturity 8/7/2029 Industry Consumer products Current Coupon 9.72% Basis Point Spread Above Index 1M SOFR+ 6002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Meadowlark Acquirer, LLC Acquisition 12/9/2021 Maturity 12/10/2027 Industry Professional Services Current Coupon 9.65% Basis Point Spread Above Index 3M SOFR+ 5652025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Compex Legal Services, Inc. Acquisition 1/27/2020 Maturity 02/07/2026 Industry Professional Services Current Coupon 9.55% Basis Point Spread Above Index 3M SOFR+ 5552024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Global Holdings InterCo, LLC Acquisition 03/11/2021 Maturity 03/16/2026 Industry Diversified Financial Services Current Coupon 9.74% Basis Point Spread Above Index 1M SOFR+ 5602025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt RRA Corporate, LLC - Funded Revolver Acquisition 8/15/2024 Maturity 08/15/2029 Industry Diversified Consumer Services Current Coupon 8.92% Basis Point Spread Above Index 3M SOFR+ 5252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Inventus Power, Inc. - Funded Revolver Acquisition 6/29/2023 Maturity 01/15/2026 Industry Electronic Equipment, Instruments, and Components Current Coupon 11.76% Basis Point Spread Above Index 3M SOFR+ 7612025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt RTIC Subsidiary Holdings, LLC - Unfunded Revolver Acquisition 5/3/2024 Maturity 5/3/2029 Industry Leisure Products2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sabel Systems Technology Solutions, LLC - Unfunded Revolver Acquisition 10/31/2024 Maturity 10/31/2030 Industry Government Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Schlesinger Global, Inc. - Unfunded Revolver Acquisition 10/24/2019 Maturity 03/31/2027 Industry Professional Services2025-12-310001504619pflt:TwoThousandThirtySevenAssetBackedDebtMemberpflt:PennantParkSeniorSecuredLoanFundILLCMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Halo Buyer, Inc. - Funded Revolver Acquisition 02/07/2025 Maturity 08/07/2029 Industry Consumer products Current Coupon 10.16% Basis Point Spread Above Index 1M SOFR+ 6002025-09-300001504619First Lien Secured Debt Issuer Name Hancock Roofing And Construction, LLC Acquisition 1/27/2021 Maturity 12/31/2026 Industry Insurance Current Coupon 9.27% Basis Point Spread Above Index SOFR+5602025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Halo Buyer, Inc. - Unfunded Revolver Acquisition 02/07/2025 Maturity 08/07/2029 Industry Consumer products2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Keel Platform, LLC - Unfunded Term Loan Acquisition 1/26/2024 Maturity 01/20/2031 Industry Metals and Mining2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Systems Planning And Analysis, Inc. - Unfunded Revolver Acquisition 10/12/2021 Maturity 8/16/2027 Industry Aerospace and Defense2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name SV-Aero Holdings, LLC Acquisition 10/31/2024 Maturity 11/1/2030 Industry Aerospace and Defense Current Coupon 9.00% Basis Point Spread Above Index SOFR+5002024-10-012025-09-300001504619Equity Securities Issuer Name Wash & Wax Group, LP - Common Equity Acquisition 4/30/2025 Industry Automobiles2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Five Star Buyer, Inc. - Unfunded Revolver Acquisition 02/21/2023 Maturity 02/23/2028 Industry Hotels, Restaurants and Leisure2025-09-300001504619us-gaap:FairValueInputsLevel3Member2025-12-310001504619pflt:ConstructionAndEngineeringMember2025-12-310001504619us-gaap:FairValueInputsLevel3Memberus-gaap:EquityMethodInvestmentsMember2025-12-310001504619pflt:TwoThousandAndThirtySixAssetBackedDebtMemberpflt:ClassC1SecuredDeferrableFloatingRateNotesDue2036Member2024-02-290001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Exigo, LLC - Common Equity Acquisition 3/10/2022 Industry Software2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Argano, LLC Acquisition 1/9/2025 Maturity 9/13/2029 Industry Business Services Current Coupon 9.89% Basis Point Spread Above Index SOFR+5752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Confluent Health, LLC Acquisition 3/25/2024 Maturity 11/30/2028 Industry Healthcare Providers and Services Current Coupon 7.83% Basis Point Spread Above Index 1M SOFR+ 4002025-12-310001504619pflt:ControlledAffiliatedInvestmentsMember2024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MES Intermediate, Inc. - Unfunded Revolver Acquisition 9/23/2021 Maturity 10/01/2027 Industry Distributors2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name ACP Avenu Buyer, LLC Acquisition 10/6/2023 Maturity 10/2/2029 Industry Business Services Current Coupon 8.74% Basis Point Spread Above Index SOFR+4752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants AG Investco - Common Equity Acquisition 11/5/2018 Industry Software2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants First Medical Holdings, LLC - Common Equity Acquisition 6/13/2025 Industry Healthcare Providers and Services2025-09-300001504619pflt:PennantParkSeniorSecuredLoanFundIILLCMemberpflt:FirstLienSecuredDebtMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rancho Health MSO, Inc. Acquisition 12/20/2024 Maturity 6/20/2029 Industry Healthcare Equipment and Supplies Current Coupon 9.29% Basis Point Spread Above Index 3M SOFR+ 5002024-10-012025-09-300001504619First Lien Secured Debt Issuer Name HEC Purchaser Corp. Acquisition 4/10/2025 Maturity 06/17/2029 Industry Healthcare and Pharmaceuticals Current Coupon 8.87% Basis Point Spread Above Index SOFR+5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Cartessa Aesthetics, LLC - Preferred Equity Acquisition 6/1/2022 Industry Distributors2025-12-310001504619First Lien Secured Debt Issuer Name Graffiti Buyer, Inc. Acquisition 3/15/2022 Maturity 08/10/2027 Industry Trading Companies & Distributors Current Coupon 9.42% Basis Point Spread Above Index SOFR+5602025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity RTIC Parent Holdings, LLC - Preferred Equity - Class A Acquisition 5/3/2024 Industry Leisure Products2024-10-012025-09-300001504619us-gaap:InvestmentAffiliatedIssuerControlledMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Archer Lewis, LLC Acquisition 8/28/2024 Maturity 08/28/2029 Industry Healthcare Technology Current Coupon 9.42% Basis Point Spread Above Index 3M SOFR+ 5752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt One Stop Mailing, LLC Acquisition 5/26/2021 Maturity 05/07/2027 Industry Air Freight and Logistics Current Coupon 10.08% Basis Point Spread Above Index 3M SOFR+ 6362025-10-012025-12-310001504619First Lien Secured Debt Issuer Name RRA Corporate, LLC Acquisition 4/10/2025 Maturity 08/15/2029 Industry Diversified Consumer Services Current Coupon 8.92% Basis Point Spread Above Index SOFR+5252025-10-012025-12-310001504619pflt:ClassDSecuredDeferrableFloatingRateNotesMemberpflt:TwoThousandAndThirtySixAssetBackedDebtMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Kinetic Purchaser, LLC - Unfunded Revolver Acquisition 11/8/2021 Maturity 11/10/2026 Industry Personal Products2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt SV-Aero Holdings, LLC - Unfunded Term Loan Acquisition 10/31/2024 Maturity 11/02/2026 Industry Aerospace and Defense2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants GCOM InvestCo, LP - Common Equity Acquisition 6/22/2021 Industry IT Services2025-09-300001504619pflt:AutoComponentsMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Paving Lessor Corp. - Unfunded Term Loan Acquisition 7/1/2025 Maturity 07/01/2027 Industry Business Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Aechelon Technology, Inc. - Unfunded Revolver Acquisition 8/16/2024 Maturity 08/16/2029 Industry Aerospace and Defense2025-10-012025-12-310001504619pflt:TwoThousandAndThirtySevenAssetBackedDebtMemberpflt:ClassCNotesMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Penta Group Holdings, Inc. Acquisition 7/31/2025 Maturity 7/31/2031 Industry Professional Services Current Coupon 8.50%2025-09-300001504619First Lien Secured Debt Issuer Name Output Services Group, Inc. - Last-Out Term Loan Acquisition 12/1/2023 Maturity 5/30/2028 Industry Business Services Current Coupon 10.96% Basis Point Spread Above Index SOFR+6682024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Anteriad, LLC (f/k/a MeritDirect, LLC) - Unfunded Revolver Acquisition 5/21/2019 Maturity 06/30/2026 Industry Media2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Unitek Global Services, Inc. - Warrants Acquisition 6/27/2022 Industry Telecommunications2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Beacon Behavioral Support Services, LLC - Unfunded Term Loan Acquisition 6/21/2024 Maturity 12/22/2025 Industry Healthcare Providers and Services2025-09-300001504619srt:MaximumMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants MDI Aggregator, LP - Common Equity Acquisition 7/19/2022 Industry Commodity Chemicals2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Compex Legal Services, Inc. - Funded Revolver Acquisition 1/27/2020 Maturity 02/07/2026 Industry Professional Services Current Coupon 9.51% Basis Point Spread Above Index 3M SOFR+ 5552024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt RRA Corporate, LLC - Unfunded Revolver Acquisition 8/15/2024 Maturity 8/15/2029 Industry Diversified Consumer Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ACP Falcon Buyer, Inc. Acquisition 8/27/2025 Maturity 08/01/2029 Industry Professional Services Current Coupon 9.79% Basis Point Spread Above Index 3M SOFR+ 5502024-10-012025-09-300001504619First Lien Secured Debt Issuer Name The Vertex Companies, LLC Acquisition 4/11/2023 Maturity 08/31/2028 Industry Construction and Engineering Current Coupon 8.75% Basis Point Spread Above Index SOFR+4752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Emergency Care Partners, LLC - Unfunded Term Loan Acquisition 10/18/2024 Maturity 10/19/2026 Industry Healthcare Providers and Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ETE Intermediate II, LLC Acquisition 05/24/2023 Maturity 05/29/2029 Industry Diversified Consumer Services Current Coupon 9.16% Basis Point Spread Above Index 3M SOFR+ 5002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt OSP Embedded Purchaser, LLC - Funded Revolver Acquisition 12/11/2023 Maturity 12/17/2029 Industry Aerospace and Defense Current Coupon 9.75% Basis Point Spread Above Index 3M SOFR+ 5752025-12-310001504619First Lien Secured Debt Issuer Name Best Practice Associates, LLC Acquisition 4/10/2025 Maturity 11/8/2029 Industry Aerospace and Defense Current Coupon 10.47% Basis Point Spread Above Index SOFR+6752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt North American Rail Solutions, LLC - Funded Revolver Acquisitions 8/29/2025 Maturity 08/29/2031 Industry Manufacturing/Basic Industry Current Coupon 8.75% Basis Point Spread Above Index 3M SOFR+ 4752025-09-300001504619First Lien Secured Debt Issuer Name Harris & Co, LLC Acquisition 11/18/2025 Maturity 8/9/2030 Industry Professional Services Current Coupon 8.72% Basis Point Spread Above Index SOFR+5002025-12-310001504619pflt:InvestmentsAndCashEquivalentsMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Graffiti Buyer, Inc. - Unfunded Revolver Acquisition 08/09/2021 Maturity 08/10/2027 Industry Trading Companies & Distributors2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt LAV Gear Holdings, Inc. Acquisition 7/31/2025 Maturity 07/31/2029 Industry Capital Equipment Current Coupon 10.10% (PIK 3.44%)2025-09-300001504619First Lien Secured Debt Issuer Name NORA Acquisition, LLC Acquisition 10/2/2023 Maturity 8/31/2029 Industry Healthcare Providers and Services Current Coupon 10.35% Basis Point Spread Above Index SOFR+6352024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt Integrative Nutrition, LLC - Promissory Note #2 Acquisition 4/17/2025 Maturity 04/15/2033 Industry Consumer Services2025-12-310001504619First Lien Secured Debt Issuer Name Transgo, LLC Acquisition 1/19/2024 Maturity 12/29/2028 Industry Automotive Current Coupon 9.91% Basis Point Spread Above Index SOFR+5752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Watchtower Buyer, LLC Acquisition 11/29/2023 Maturity 12/03/2029 Industry Electronic Equipment, Instruments, and Components Current Coupon 10.00% Basis Point Spread Above Index 3M SOFR+ 6002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Commercial Fire Protection Holdings, LLC - Unfunded Term Loan Acquisition 9/23/2024 Maturity 09/23/2026 Industry Commercial Services & Supplies2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MOREgroup Holdings, Inc. - Unfunded Revolver Acquisition 1/9/2024 Maturity 01/16/2030 Industry Construction & Engineering2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rancho Health MSO, Inc. Acquisition 12/20/2024 Maturity 06/20/2029 Industry Healthcare Equipment and Supplies Current Coupon 8.69% Basis Point Spread Above Index 3M SOFR+ 5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Sabel InvestCo, LP. - Common Equity Acquisition 5/23/2024 Industry Government Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants AG Investco - Common Equity Acquisition 11/5/2018 Industry Software2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Seaway Buyer, LLC Acquisition 7/25/2024 Maturity 6/13/2029 Industry Chemicals, Plastics and Rubber Current Coupon 10.17% Basis Point Spread Above Index 3M SOFR+ 6152025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Duggal Acquisition, LLC - Unfunded Revolver Acquisition 9/30/2024 Maturity 09/30/2030 Industry Marketing Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Pacific Purchaser, LLC Acquisition 10/2/2023 Maturity 10/02/2028 Industry Professional Services Current Coupon 9.85% Basis Point Spread Above Index 3M SOFR+ 6252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Recteq, LLC - Unfunded Revolver Acquisition 1/27/2021 Maturity 1/29/2026 Industry Leisure Products2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Schlesinger Global, Inc. - Funded Revolver Acquisition 10/24/2019 Maturity 03/31/2027 Industry Professional Services Current Coupon 9.82% (PIK 5.85%) Basis Point Spread Above Index 3M SOFR+ 6102025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Smartronix, LLC Acquisition 2/6/2025 Maturity 2/6/2032 Industry Aerospace and Defense Current Coupon 8.66% Basis Point Spread Above Index 1M SOFR+ 4502024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt RTIC Subsidiary Holdings, LLC Acquisition 5/3/2024 Maturity 05/03/2029 Industry Leisure Products Current Coupon 9.42% Basis Point Spread Above Index 3M SOFR+ 5752025-12-310001504619pflt:MetalsAndMiningMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants 48Forty Intermediate Holdings, Inc. - Common Equity Acquisition 8/27/2025 Industry Business Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants 48Forty Intermediate Holdings, Inc. - Common Equity Acquisition 8/27/2025 Industry Business Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Exigo Intermediate II, LLC - Unfunded Revolver Acquisition 03/10/2022 Maturity 03/15/2027 Industry Software2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Aphix Buyer, Inc. Acquisition 9/3/2025 Maturity 7/17/2031 Industry Business Services Current Coupon 8.91% Basis Point Spread Above Index SOFR+4752025-09-300001504619First Lien Secured Debt Issuer Name Ad.net Acquisition, LLC Acquisition 5/24/2021 Maturity 5/7/2026 Industry Media Current Coupon 10.26% Basis Point Spread Above Index SOFR+6262024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Schlesinger Global, Inc. Acquisitions 10/24/2019 Maturity 10/24/2025 Industry Professional Services Current Coupon 12.76% (PIK 5.85%) Basis Point Spread Above Index 3M SOFR+ 8602025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt ORL Holdco, Inc. - Unfunded Convertible Notes Acquisition 8/2/2024 Maturity 03/8/2028 Industry Consumer Finance2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Gauge Schlesinger Coinvest, LLC - Preferred Equity Acquisition 4/22/2020 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Azureon, LLC (F/K/A Tpcn Midco, LLC) - Unfunded Term Loan Acquisition 6/26/2024 Maturity 11/26/2027 Industry Diversified Consumer Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Lash OpCo, LLC - Funded Revolver Acquisition 8/16/2021 Maturity 08/16/2026 Industry Personal Products Current Coupon 12.16% (PIK 5.10%) Basis Point Spread Above Index 1M SOFR+ 7852025-09-300001504619First Lien Secured Debt Issuer Name TCG 3.0 Jogger Acquisitionco, Inc. Acquisition 4/26/2024 Maturity 1/23/2029 Industry Media Current Coupon 10.52% Basis Point Spread Above Index SOFR+6502024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt NBH Group, LLC - Unfunded Revolver Acquisition 8/16/2021 Maturity 08/19/2026 Industry Healthcare Equipment and Supplies2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Smile Brands, Inc. - Funded Revolver Acquisition 10/4/2018 Maturity 10/12/2027 Industry Healthcare and Pharmaceuticals Current Coupon 10.43% Basis Point Spread Above Index 1M SOFR+ 6102024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Dynata, LLC - Last Out Term Loan Acquisition 7/15/2024 Maturity 10/16/2028 Industry Diversified Consumer Services Current Coupon 9.64% Basis Point Spread Above Index SOFR+5762025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity RTIC Parent Holdings, LLC - Preferred Equity - Class C Acquisition 5/3/2024 Industry Leisure Products2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt STG Distribution, LLC - Second Out Term Loans Acquisition 8/27/2025 Maturity 10/03/2029 Industry Air Freight and Logistics2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Beta Plus Technologies, Inc. Acquisition 2/29/2024 Maturity 07/02/2029 Industry Internet Software and Services Current Coupon 9.42% Basis Point Spread Above Index 1M SOFR+ 5752025-12-310001504619pflt:TwoThousandTwentySixNotesPayableMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Crane 1 Services, Inc. Acquisition 8/11/2021 Maturity 08/16/2027 Industry Commercial Services & Supplies Current Coupon 10.03% Basis Point Spread Above Index 3M SOFR+ 5752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Pragmatic Institute, LLC Acquisition 7/5/2022 Maturity 3/28/2030 Industry Professional Services Current Coupon 9.50%2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Dynata, LLC - First Out Term Loan Acquisition 7/15/2024 Maturity 07/17/2028 Industry Business Services Current Coupon 9.46% Basis Point Spread Above Index 3M SOFR+ 5262025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants APT Holdings, LLC - Common Equity Acquisition 9/29/2025 Industry Healthcare Providers and Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt APT OPCO, LLC - Unfunded Revolver Acquisition 9/29/2025 Maturity 09/30/2031 Industry Healthcare Providers and Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name North American Rail Solutions Acquisition 11/21/2025 Maturity 8/29/2031 Industry Road and Rail Current Coupon 8.42% Basis Point Spread Above Index SOFR+4752025-12-310001504619pflt:TwoThousandAndThirtySevenAssetBackedDebtMemberpflt:ClassA1NotesMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sales Benchmark Index, LLC - Unfunded Revolver Acquisition 12/23/2019 Maturity 7/7/2026 Industry Professional Services2025-09-300001504619us-gaap:CashMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Boss Industries, LLC Acquisition 12/27/2024 Maturity 12/27/2030 Industry Independent Power and Renewable Electricity Producers Current Coupon 8.71% Basis Point Spread Above Index 3M SOFR+ 5002025-03-310001504619us-gaap:FairValueInputsLevel3Memberpflt:LongTermCreditFacilityMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Inovex Information Systems Incorporated - Unfunded Term Loan Acquisition 12/17/2024 Maturity 12/17/2026 Industry Software2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Beacon Behavioral Support Services, LLC - Unfunded Term Loan Acquisition 6/21/2024 Maturity 12/22/2025 Industry Healthcare Providers and Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Sales Benchmark Index, LLC Acquisition 1/27/2021 Maturity 7/7/2026 Industry Professional Services Current Coupon 10.20% Basis Point Spread Above Index SOFR+6202024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TPC US Parent, LLC Acquisition 11/15/2019 Maturity 02/23/2026 Industry Food Products Current Coupon 9.48% Basis Point Spread Above Index 3M SOFR+ 5902024-10-012024-12-310001504619First Lien Secured Debt Issuer Name Dynata, LLC - Last Out Term Loan Acquisition 7/15/2024 Maturity 10/16/2028 Industry Diversified Consumer Services Current Coupon 9.96% Basis Point Spread Above Index SOFR+5762025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Blue Cloud Pediatric Surgery Centers LLC Acquisition 8/12/2025 Maturity 1/21/2031 Industry Healthcare Providers and Services Current Coupon 8.72% Basis Point Spread Above Index 3M SOFR+ 5002025-12-310001504619pflt:MediaDiversifiedAndProductionMember2025-09-300001504619pflt:EquityInterestsMemberpflt:PennantParkSeniorSecuredLoanFundILLCMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carisk Buyer, Inc. Acquisition 11/27/2023 Maturity 12/03/2029 Industry Healthcare Technology Current Coupon 9.00% Basis Point Spread Above Index 3M SOFR+ 5002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PD Tri-State Holdco, LLC - Unfunded Term Loan Acquisition 10/14/2025 Maturity 10/14/2027 Industry Diversified Consumer Services2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name BioDerm, Inc. Acquisition 2/28/2023 Maturity 1/31/2028 Industry Healthcare and Pharmaceuticals Current Coupon 10.36% Basis Point Spread Above Index SOFR+6502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Graffiti Buyer, Inc. - Unfunded Revolver Acquisition 08/09/2021 Maturity 08/10/2027 Industry Trading Companies & Distributors2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants GGG Topco, LLC Acquisition 9/27/2024 Industry Diversified Consumer Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Paving Lessor Corp. Acquisition 7/1/2025 Maturity 7/1/2031 Industry Business Services Current Coupon 9.25%2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt STG Distribution, LLC - First Out New Money Term Loans Acquisition 8/27/2025 Maturity 10/03/2029 Industry Air Freight and Logistics2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name LJ Avalon Holdings, LLC Acquisition 4/11/2023 Maturity 2/1/2030 Industry Environmental Industries Current Coupon 8.77% Basis Point Spread Above Index SOFR+4502024-10-012025-09-300001504619pflt:TwoThousandTwentySixNotesPayableMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt CJX Borrower, LLC - Unfunded Term Loan Acquisition 7/8/2021 Maturity 07/13/2027 Industry Media2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Archer Lewis, LLC - Funded Revolver Acquisition 8/28/2024 Maturity 08/28/2029 Industry Healthcare Technology Current Coupon 9.42% Basis Point Spread Above Index 3M SOFR+ 5752025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Smile Brands, Inc. Acquisition 1/27/2021 Maturity 10/12/2027 Industry Healthcare and Pharmaceuticals Current Coupon 10.10% Basis Point Spread Above Index SOFR+6102025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Archer Lewis, LLC - Funded Revolver Acquisition 8/28/2024 Maturity 08/28/2029 Industry Healthcare Technology Current Coupon 9.42% Basis Point Spread Above Index 3M SOFR+ 5752025-12-310001504619First Lien Secured Debt Issuer Name Imagine Acquisitionco, Inc. Acquisition 3/15/2022 Maturity 11/15/2027 Industry Software Current Coupon 9.29% Basis Point Spread Above Index SOFR+5102024-10-012025-09-300001504619pflt:ConsumerServicesMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt LJ Avalon Holdings, LLC - Unfunded Term Loan Acquisition 1/18/2023 Maturity 02/08/2027 Industry Construction & Engineering2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt One Stop Mailing, LLC Acquisitions 5/26/2021 Maturity 05/07/2027 Industry Air Freight and Logistics Current Coupon 10.53% Basis Point Spread Above Index 3M SOFR+ 6362024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity C5MI Holdco, LLC - Preferred Equity Acquisition 7/31/2024 Industry IT Services2024-10-012025-09-300001504619pflt:ClassCNotesMemberpflt:PennantParkCLO12LLCMember2025-04-012025-04-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Medina Health, LLC - Unfunded Revolver Acquisition 10/16/2023 Maturity 10/20/2028 Industry Healthcare Providers and Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Carnegie HoldCo, LLC Acquisition 2/7/2024 Industry Professional Services2025-09-300001504619First Lien Secured Debt Issuer Name Global Holdings InterCo, LLC Acquisition 6/8/2021 Maturity 03/16/2026 Industry Diversified Financial Services Current Coupon 9.33% Basis Point Spread Above Index SOFR+5602025-12-310001504619pflt:PennantParkSeniorSecuredLoanFundILLCMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Output Services Group, Inc. - First-out Term Loan Acquisition 11/30/2023 Maturity 11/30/2028 Industry Business Services Current Coupon 12.71% Basis Point Spread Above Index 3M SOFR+ 8432024-10-012025-09-300001504619Equity Securities Issuer Name New Insight Holdings, Inc. - Common Equity Acquisition 7/15/2024 Industry Diversified Consumer Services2025-09-300001504619us-gaap:InvestmentAffiliatedIssuerControlledMemberpflt:EquityInterestsMember2025-12-310001504619pflt:IndependentPowerAndRenewableElectricityProducersMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Quad (U.S.) Co-Invest, LP - Common Equity Acquisition 10/3/2022 Industry Professional Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt ORL Holdco, Inc. - Unfunded Convertible Notes Acquisition 8/2/2024 Maturity 03/8/2028 Industry Consumer Finance2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Seaway Buyer, LLC Acquisition 4/11/2023 Maturity 06/13/2029 Industry Chemicals, Plastics and Rubber Current Coupon 9.82% Basis Point Spread Above Index SOFR+6152025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt EDS Buyer, LLC Acquisition 12/19/2022 Maturity 01/10/2029 Industry Electronic Equipment, Instruments, and Components Current Coupon 8.75% Basis Point Spread Above Index 3M SOFR+ 4752024-10-012025-09-300001504619pflt:TwoThousandThirtySevenAssetBackedDebtMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt C5MI Acquisition, LLC Acquisition 7/31/2024 Maturity 7/31/2029 Industry IT Services Current Coupon 9.67% Basis Point Spread Above Index 3M SOFR+ 6002025-12-310001504619First Lien Secured Debt Issuer Name Sigma Defense Systems, LLC Acquisition 12/27/2021 Maturity 12/20/2027 Industry Aerospace and Defense Current Coupon 10.31% Basis Point Spread Above Index SOFR+6152024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Imagine Acquisitionco, Inc. Acquisition 3/15/2022 Maturity 11/15/2027 Industry Software Current Coupon 8.98% Basis Point Spread Above Index SOFR+5102025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Schlesinger Global, Inc. Acquisition 10/24/2019 Maturity 03/31/2027 Industry Professional Services Current Coupon 9.82% (PIK 5.85%) Basis Point Spread Above Index 3M SOFR+ 6102025-12-310001504619pflt:CommonEquityWarrantsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Hancock Roofing and Construction, LLC Acquisition 12/23/2020 Maturity 12/31/2026 Industry Insurance Current Coupon 9.90% Basis Point Spread Above Index 3M SOFR+ 5602025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Project Granite Buyer, Inc. - Unfunded Revolver Acquisition 12/31/2024 Maturity 12/31/2030 Industry Professional Services2025-09-300001504619First Lien Secured Debt Issuer Name PCS MIDCO, Inc. Acquisition 4/10/2025 Maturity 3/1/2030 Industry Diversified Consumer Services Current Coupon 9.75% Basis Point Spread Above Index SOFR+5752025-09-300001504619pflt:GoldmanSachsFinancialSquareGovernmentFundMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MDI Buyer, Inc. - Unfunded Revolver Acquisition 7/19/2022 Maturity 07/25/2028 Industry Commodity Chemicals2024-10-012025-09-300001504619us-gaap:CashAndCashEquivalentsMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Sabel InvestCo, LP. - Unfunded Common Equity Acquisition 12/23/2019 Industry Government Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Duggal Acquisition, LLC Acquisition 9/30/2024 Maturity 9/30/2030 Industry Marketing Services Current Coupon 8.42% Basis Point Spread Above Index 3M SOFR+ 4752025-12-310001504619pflt:PennantParkSeniorSecuredLoanFundILLCMember2024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Project Granite Holdings, LLC Acquisition 8/4/2025 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants LJ Avalon, LP - Common Equity Acquisition 1/18/2023 Industry Construction & Engineering2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants PCS Parent, LP Acquisition 3/1/2024 Industry Professional Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Pink Lily Holdco, LLC - Common Equity Acquisition 11/5/2021 Industry Textiles, Apparel and Luxury Goods2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cf512, Inc. - Unfunded Revolver Acquisition 8/17/2021 Maturity 8/20/2026 Industry Media2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name AFC-Dell Holding Corp. Acquisition 12/23/2024 Maturity 4/9/2027 Industry Distributors Current Coupon 9.83% Basis Point Spread Above Index SOFR+5502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Infinity Home Services Holdco, Inc. (CAD) Acquisition 12/21/2022 Maturity 12/28/2028 Industry Commercial Services & Supplies Current Coupon 10.00% Basis Point Spread Above Index 3M SOFR+ 6002025-09-300001504619First Lien Secured Debt Issuer Name Crane 1 Services, Inc. Acquisition 4/11/2023 Maturity 08/16/2027 Industry Commercial Services & Supplies Current Coupon 9.08% Basis Point Spread Above Index SOFR+5362025-10-012025-12-310001504619us-gaap:FairValueInputsLevel3Memberus-gaap:EquityMethodInvestmentsMemberus-gaap:MeasurementInputEbitdaMultipleMemberpflt:ValuationTechniqueEnterpriseMarketValueMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TCG 3.0 Jogger Acquisitionco, Inc. - Unfunded Revolver Acquisition 1/23/2024 Maturity 01/23/2029 Industry Media2025-12-310001504619pflt:RTwoThousandAndThirtySixAssetBackedDebtMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity AFC Acquisitions, Inc. Preferred Equity - Series F-2 Acquisition 12/7/2023 Industry Distributors2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Seacoast Service Partners, LLC - Common Equity Acquisition 12/20/2024 Industry Diversified Consumer Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity RTIC Parent Holdings, LLC - Preferred Equity - Class C Acquisition 5/3/2024 Industry Leisure Products2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt RRA Corporate, LLC - Unfunded Revolver Acquisition 8/15/2024 Maturity 08/15/2029 Industry Diversified Consumer Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Safe Haven Defense Holdco, LLC - Common Equity Acquisition 5/23/2024 Industry Building Products2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Duggal Acquisition, LLC - Unfunded Revolver Acquisition 9/30/2024 Maturity 9/30/2030 Industry Marketing Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Five Star Parent Holdings, LLC - Preferred (Class P) Acquisition 2/21/2023 Industry Hotels, Restaurants and Leisure2025-12-310001504619First Lien Secured Debt Issuer Name Transgo, LLC Acquisition 1/19/2024 Maturity 12/29/2028 Industry Automotive Current Coupon 9.91% Basis Point Spread Above Index SOFR+5752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Beacon Behavioral Support Services, LLC - Unfunded Term Loan Acquisition 6/21/2024 Maturity 12/13/2026 Industry Healthcare Providers and Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants First Medical Holdings, LLC - Common Equity Acquisition 6/13/2025 Industry Healthcare Providers and Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt The Bluebird Group, LLC - Unfunded Revolver Acquisition 7/22/2021 Maturity 07/28/2026 Industry Professional Services2025-12-310001504619pflt:TwoThousandAndTwentySixNotesTwoMember2020-12-152020-12-150001504619First Lien Secured Debt Issuer Name HW Holdco, LLC Acquisition 4/11/2023 Maturity 5/11/2026 Industry Media Current Coupon 9.90% Basis Point Spread Above Index SOFR+5902024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Kinetic Purchaser, LLC - Unfunded Revolver Acquisition 11/08/2021 Maturity 11/10/2026 Industry Personal Products2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Impact Advisors, LLC - Unfunded Term Loan Acquisition 3/21/2025 Maturity 03/21/2027 Industry Business Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Systems Planning And Analysis, Inc. Acquisition 10/12/2021 Maturity 8/16/2027 Industry Aerospace and Defense Current Coupon 8.75% Basis Point Spread Above Index 3M SOFR+ 4752025-09-300001504619First Lien Secured Debt Issuer Name Beacon Behavioral Support Services, LLC Acquisition 10/9/2024 Maturity 6/21/2029 Industry Healthcare and Pharmaceuticals Current Coupon 9.17% Basis Point Spread Above Index SOFR+5502025-12-310001504619pflt:PennantParkTSOSeniorLoanFundLPMember2021-04-012021-04-300001504619First Lien Secured Debt Issuer Name EvAL Home Care Solutions Intermediate, LLC Acquisition 7/10/2024 Maturity 05/10/2030 Industry Healthcare and Pharmaceuticals Current Coupon 9.47% Basis Point Spread Above Index SOFR+5752025-12-310001504619pflt:InvestmentsAndCashEquivalentsMember2025-09-300001504619us-gaap:InvestmentAffiliatedIssuerControlledMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Azureon Holdings, LLC Acquisition 6/26/2024 Industry Diversified Consumer Services2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Confluent Health, LLC Acquisition 1/12/2024 Maturity 11/30/2028 Industry Healthcare and Pharmaceuticals Current Coupon 11.66% Basis Point Spread Above Index SOFR+7502025-09-300001504619pflt:ClassB1SeniorSecuredFloatingRateNotesDue2031Memberpflt:TwoThousandAndThirtyOneAssetBackedDebtMemberpflt:SecuredOvernightFinancingRateMember2019-09-012019-09-300001504619pflt:TwoThousandThirtySevenAssetBackedDebtMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Smile Brands, Inc. - Unfunded Revolver - LC Acquisition 10/4/2018 Maturity 10/12/2027 Industry Healthcare and Pharmaceuticals2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Anteriad Holdings, LP (f/k/a MeritDirect Holdings, LP) - Preferred Equity Acquisition 5/21/2019 Industry Media2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Lash OpCo, LLC - Funded Revolver Acquisition 8/16/2021 Maturity 08/16/2026 Industry Personal Products Current Coupon 12.16% (PIK 5.10%) Basis Point Spread Above Index 1M SOFR+ 7852024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt DRS Holdings III, Inc. Acquisition 10/29/2019 Maturity 11/1/2028 Industry Chemicals, Plastics and Rubber Current Coupon 8.97% Basis Point Spread Above Index 3M SOFR+ 5252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Project Granite Buyer, Inc. Acquisition 12/31/2024 Maturity 12/31/2030 Industry Professional Services Current Coupon 9.42% Basis Point Spread Above Index 3M SOFR+ 5752025-10-012025-12-310001504619us-gaap:FairValueInputsLevel1Member2025-09-300001504619First Lien Secured Debt Issuer Name DRI Holding Inc. Acquisition 9/15/2022 Maturity 12/21/2028 Industry Media Current Coupon 9.07% Basis Point Spread Above Index SOFR+5352025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Boss Industries, LLC Acquisition 12/27/2024 Maturity 12/27/2030 Industry Independent Power and Renewable Electricity Producers Current Coupon 8.71% Basis Point Spread Above Index 3M SOFR+ 5002025-12-310001504619pflt:TwoThousandAndThirtyOneAssetBackedDebtMemberpflt:ClassA2SeniorSecuredFixedRateNotesDue2031Member2019-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants NEPRT Parent Holdings, LLC - Common Equity Acquisition 1/27/2021 Industry Leisure Products2024-10-012025-09-300001504619pflt:SBADebenturesMember2019-09-012019-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt DX Electric Company, LLC Acquisition 10/1/2025 Maturity 10/1/2031 Industry Electronic Equipment, Instruments, and Components Current Coupon 8.92% Basis Point Spread Above Index 3M SOFR+ 5252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Gauge ETE Blocker, LLC Acquisition 05/24/2023 Maturity 05/21/2029 Industry Diversified Consumer Services Current Coupon 12.56%2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Gauge Schlesinger Coinvest, LLC - Common Equity Acquisition 4/22/2020 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants FedHC InvestCo, LP - Unfunded Common Equity Acquisition 8/26/2021 Industry Aerospace and Defense2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt GGG Midco, LLC - Unfunded Term Loan Acquisition 09/27/2024 Maturity 09/27/2026 Industry Diversified Consumer Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rosco Parent, LLC - Funded Revolver Acquisition 9/9/2025 Maturity 09/12/2031 Industry Business Services Current Coupon 8.42% Basis Point Spread Above Index 3M SOFR+ 4752025-10-012025-12-310001504619pflt:TwoThousandTwentySixNotesPayableMember2025-09-300001504619pflt:PennantParkSeniorSecuredLoanFundILLCMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants OSP PAR Aggregator, LP - Common Equity Acquisition 9/3/2024 Industry Healthcare Technology2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Medina Health, LLC Acquisition 11/6/2023 Maturity 10/20/2028 Industry Healthcare and Pharmaceuticals Current Coupon 10.25% Basis Point Spread Above Index SOFR+6252025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ACP Falcon Buyer, Inc. Acquisition 8/27/2025 Maturity 08/01/2029 Industry Professional Services Current Coupon 9.79% Basis Point Spread Above Index 3M SOFR+ 5502025-09-300001504619pflt:MediaMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Blackhawk Industrial Distribution, Inc. Acquisition 6/27/2022 Maturity 09/17/2026 Industry Distributors Current Coupon 9.40% Basis Point Spread Above Index 3M SOFR+ 5402025-09-300001504619First Lien Secured Debt Issuer Name Loving Tan Intermediate II, Inc. Acquisition 10/25/2023 Maturity 05/31/2028 Industry Personal Products Current Coupon 8.67% Basis Point Spread Above Index SOFR+5002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt APT OPCO, LLC - Unfunded Revolver Acquisition 9/29/2025 Maturity 09/30/2031 Industry Healthcare Providers and Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Efficient Collaborative Retail Marketing Company, LLC Acquisition 10/23/2018 Maturity 09/30/2026 Industry Media: Diversified and Production Current Coupon 11.01% (PIK 3.75%) Basis Point Spread Above Index 3M SOFR+ 6752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Anteriad Holdings, LP (f/k/a MeritDirect Holdings, LP) - Preferred Equity Acquisition 5/21/2019 Industry Media2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sath Industries, LLC - Unfunded Revolver Acquisition 12/17/2024 Maturity 12/17/2029 Industry Event Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Safe Haven Defense US, LLC Acquisition 5/23/2024 Maturity 05/23/2029 Industry Building Products Current Coupon 9.28% Basis Point Spread Above Index 3M SOFR+ 5502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity BioDerm Holdings, LP - Preferred Equity Acquisition 1/30/2023 Industry Healthcare Equipment and Supplies2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MDI Buyer, Inc. Acquisition 3/16/2023 Maturity 07/25/2028 Industry Commodity Chemicals Current Coupon 8.75% Basis Point Spread Above Index 3M SOFR+ 4752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Lightspeed Buyer, Inc. - Unfunded Revolver Acquisition 1/21/2020 Maturity 02/03/2027 Industry Healthcare Technology2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Emergency Care Partners, LLC - Unfunded Term Loan Acquisition 10/18/2024 Maturity 10/19/2026 Industry Healthcare Providers and Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Anteriad, LLC (f/k/a MeritDirect, LLC) Acquisition 4/10/2025 Maturity 6/30/2026 Industry Media: Advertising, Printing & Publishing Current Coupon 9.57% Basis Point Spread Above Index SOFR+5902025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Inovex Information Systems Incorporated - Unfunded Term Loan Acquisition 12/17/2024 Maturity 12/17/2026 Industry Software2024-10-012025-09-300001504619pflt:EquityInterestsInPSSLMember2025-12-310001504619pflt:TwoThousandThirtySevenAssetBackedDebtMember2025-02-280001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Emergency Care Partners, LLC Acquisition 10/18/2024 Maturity 10/18/2027 Industry Healthcare Providers and Services Current Coupon 9.00% Basis Point Spread Above Index 3M SOFR+ 5002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants A1 Garage Equity, LLC - Common Equity Acquisition 12/19/2022 Industry Commercial Services & Supplies2025-12-310001504619First Lien Secured Debt Issuer Name Loving Tan Intermediate II, Inc. Acquisition 10/25/2023 Maturity 05/31/2028 Industry Personal Products Current Coupon 8.67% Basis Point Spread Above Index SOFR+5002025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Beta Plus Technologies, Inc. Acquisition 7/21/2022 Maturity 7/2/2029 Industry Business Services Current Coupon 9.75% Basis Point Spread Above Index SOFR+5752024-10-012025-09-300001504619First Lien Secured Debt Issuer Name EvAL Home Care Solutions Intermediate, LLC Acquisition 7/10/2024 Maturity 5/10/2030 Industry Healthcare and Pharmaceuticals Current Coupon 9.91% Basis Point Spread Above Index SOFR+5752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ro Health, LLC - Funded Revolver Acquisition 1/16/2025 Maturity 1/17/2031 Industry Healthcare Providers and Services Current Coupon 9.00% Basis Point Spread Above Index 3M SOFR+ 5002025-09-300001504619pflt:TwoThousandThirtySixAssetBackedDebtMemberpflt:PennantParkSeniorSecuredLoanFundILLCMember2025-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:ValuationTechniqueMarketComparableMemberpflt:MeasurementInputMarketYieldMemberpflt:FirstLienMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Kinetic Purchaser, LLC - Common Equity - Class AA Acquisition 11/8/2021 Industry Personal Products2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants OES Co-Invest, LP - Common Equity - Class A Acquisition 5/31/2024 Industry Diversified Consumer Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Systems Planning And Analysis, Inc. - Unfunded Term Loan Acquisition 10/12/2021 Maturity 6/12/2027 Industry Aerospace and Defense2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ro Health, LLC Acquisition 1/16/2025 Maturity 01/17/2031 Industry Healthcare Providers and Services Current Coupon 8.17% Basis Point Spread Above Index 3M SOFR+ 4502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt RRA Corporate, LLC - Unfunded Term Loan Acquisition 8/15/2024 Maturity 8/17/2026 Industry Diversified Consumer Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name APT OPCO, LLC Acquisition 9/29/2025 Maturity 9/30/2031 Industry Healthcare Providers and Services Current Coupon 8.67% Basis Point Spread Above Index SOFR+5002025-12-310001504619pflt:TruistCreditFacilityMember2025-04-012025-04-300001504619First Lien Secured Debt Issuer Name ETE Intermediate II, LLC Acquisition 11/18/2025 Maturity 5/29/2029 Industry Auto Components Current Coupon 8.72% Basis Point Spread Above Index SOFR+5002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rural Sourcing Holdings, Inc. - Funded Revolver Acquisition 6/8/2023 Maturity 06/15/2029 Industry Professional Services Current Coupon 9.42% Basis Point Spread Above Index 3M SOFR+ 5752025-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:ValuationTechniqueMarketComparableMemberpflt:MeasurementInputMarketYieldMemberpflt:SecondLienMembersrt:MinimumMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carnegie Dartlet, LLC - Unfunded Revolver Acquisition 2/7/2024 Maturity 02/07/2030 Industry Professional Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ro Health, LLC - Funded Revolver Acquisition 1/16/2025 Maturity 01/17/2031 Industry Healthcare Providers and Services Current Coupon 8.17% Basis Point Spread Above Index 3M SOFR+ 5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt STG Distribution, LLC - First Out New Money Term Loans Acquisition 8/27/2025 Maturity 10/3/2029 Industry Air Freight and Logistics Current Coupon 12.57% Basis Point Spread Above Index 1M SOFR+ 8352024-10-012025-09-300001504619us-gaap:FairValueInputsLevel3Memberpflt:ValuationTechniqueMarketComparableMemberpflt:MeasurementInputBrokerOrDealerBidsOrQuotesMemberpflt:FirstLienMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants White Tiger Newco, LLC - Common Equity Acquisition 7/31/2025 Industry Capital Equipment2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Pragmatic Institute, LLC Acquisition 3/28/2025 Maturity 03/28/2030 Industry Education2025-12-310001504619First Lien Secured Debt Issuer Name North American Rail Solutions Acquisition 11/21/2025 Maturity 8/29/2031 Industry Road and Rail Current Coupon 8.42% Basis Point Spread Above Index SOFR+4752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants SBI Holdings Investments, LLC - Common Equity Acquisition 12/23/2019 Industry Professional Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Municipal Emergency Services, Inc. Acquisition 4/11/2023 Maturity 10/01/2027 Industry Distributors Current Coupon 8.42% Basis Point Spread Above Index SOFR+4752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt The Bluebird Group, LLC Acquisition 7/22/2021 Maturity 07/28/2026 Industry Professional Services Current Coupon 9.60% Basis Point Spread Above Index 3M SOFR+ 5902025-12-310001504619First Lien Secured Debt Issuer Name BioDerm, Inc. Acquisition 2/28/2023 Maturity 1/31/2028 Industry Healthcare and Pharmaceuticals Current Coupon 10.77% Basis Point Spread Above Index SOFR+6502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants First Medical Holdings, LLC - Common Equity Acquisition 6/13/2025 Industry Healthcare Providers and Services2025-12-310001504619First Lien Secured Debt Issuer Name Anteriad, LLC (f/k/a MeritDirect, LLC) Acquisition 4/10/2025 Maturity 6/30/2026 Industry Media: Advertising, Printing & Publishing Current Coupon 9.90% Basis Point Spread Above Index SOFR+5752024-10-012025-09-300001504619us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputEbitdaMultipleMemberpflt:ValuationTechniqueEnterpriseMarketValueMemberpflt:FirstLienMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Lightspeed Buyer, Inc. Acquisition 1/21/2020 Maturity 02/03/2027 Industry Healthcare Technology Current Coupon 8.75% Basis Point Spread Above Index 3M SOFR+ 4752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Aechelon Technology, Inc. - Unfunded Revolver Acquisition 8/16/2024 Maturity 08/16/2029 Industry Aerospace and DefenseInvestments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Aechelon Technology, Inc. - Unfunded Revolver Acquisition 8/16/2024 Maturity 08/16/2029 Industry Aerospace and Defense2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Lucky Bucks Holdco, LLC - Common Equity Acquisition 10/2/2023 Industry Hotels, Restaurants and Leisure2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Safe Haven Defense US, LLC Acquisition 9/19/2024 Maturity 5/23/2029 Industry Construction and Building Current Coupon 9.50% Basis Point Spread Above Index SOFR+5502025-09-300001504619us-gaap:FairValueInputsLevel2Memberpflt:TwoThousandTwentySixNotesPayableMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Omnia Exterior Solutions, LLC Acquisition 12/29/2023 Maturity 12/31/2029 Industry Diversified Consumer Services Current Coupon 8.92% Basis Point Spread Above Index 3M SOFR+ 5252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Gauge Schlesinger Coinvest, LLC - Preferred Equity Acquisition 4/22/2020 Industry Professional Services2024-10-012025-09-300001504619pflt:CashEquivalentsFivePointThreePercentOfNetAssetsMember2025-12-310001504619First Lien Secured Debt Issuer Name Tyto Athene, LLC Acquisition 5/5/2021 Maturity 04/03/2028 Industry IT Services Current Coupon 8.88% Basis Point Spread Above Index SOFR+4902025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt STG Distribution, LLC - Second Out Term Loans Acquisition 8/27/2025 Maturity 10/3/2029 Industry Air Freight and Logistics Current Coupon 5.32%2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Wash & Wax Systems, LLC Acquisition 4/30/2025 Maturity 04/30/2028 Industry Consumer Services Current Coupon 9.34% Basis Point Spread Above Index 3M SOFR+ 5502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants OHCP V BC COI, LP - Unfunded Common Equity Acquisition 12/13/2021 Industry Distributors2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Burgess Point Purchaser Corporation Acquisition 8/12/2024 Maturity 07/25/2029 Industry Auto Components Current Coupon 9.51% Basis Point Spread Above Index 3M SOFR+ 5352025-09-300001504619pflt:ClassC2SecuredDeferrableFixedRateNotesDue2031Memberpflt:TwoThousandAndThirtyOneAssetBackedDebtMember2019-09-012019-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Best Practice Associates, LLC - Unfunded Revolver Acquisition 11/7/2024 Maturity 11/08/2029 Industry Aerospace and Defense2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Marketplace Events Acquisition, LLC - Funded Revolver Acquisition 12/19/2024 Maturity 12/19/2030 Industry Media Current Coupon 9.25%2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt ORL Holdco, Inc. - Unfunded Convertible Notes Acquisition 8/2/2024 Maturity 03/08/2028 Industry Consumer Finance2025-12-310001504619First Lien Secured Debt Issuer Name Paving Lessor Corp. First Lien -Term Loan Acquisition 8/28/2025 Maturity 7/1/2031 Industry Business Services Current Coupon 9.25% Basis Point Spread Above Index SOFR+5252024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ad.net Acquisition, LLC - Unfunded Revolver Acquisition 5/4/2021 Maturity 05/07/2026 Industry Media2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity HPA SPQ Aggregator, LP - Preferred Equity Acquisition 6/8/2023 Industry Professional Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carnegie Dartlet, LLC - Unfunded Revolver Acquisition 2/7/2024 Maturity 2/7/2030 Industry Professional Services2025-10-012025-12-310001504619pflt:BlackrockLiqFedfundGovCLInstMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Aphix Buyer, Inc. - Unfunded Revolver Acquisition 7/17/2025 Maturity 07/17/2031 Industry Business Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MOREgroup Holdings, Inc. - Unfunded Term Loan Acquisition 1/9/2024 Maturity 01/16/2026 Industry Construction & Engineering2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Walker Edison Furniture Company, LLC - New Money DIP Acquisition 8/29/2025 Maturity 03/01/2029 Industry Wholesale Current Coupon 10.00%2024-10-012024-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:FirstLienMember2025-09-300001504619First Lien Secured Debt Issuer Name The Bluebird Group, LLC Acquisition 11/18/2025 Maturity 7/28/2026 Industry Professional Services Current Coupon 9.57%Basis Point Spread Above Index SOFR+5902025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Ro Health, LLC Acquisition 3/3/2025 Maturity 01/17/2031 Industry Healthcare Providers and Services Current Coupon 8.17% Basis Point Spread Above Index SOFR+4502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Gauge Lash Coinvest, LLC - Common Equity Acquisition 12/4/2019 Industry Personal Products2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ad.net Acquisition, LLC Acquisition 5/4/2021 Maturity 05/07/2026 Industry Media Current Coupon 9.93% Basis Point Spread Above Index 3M SOFR+ 6262025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Rural Sourcing Holdings, Inc. Acquisition 9/6/2023 Maturity 06/15/2029 Industry High Tech Industries Current Coupon 9.85% Basis Point Spread Above Index SOFR+6252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Lash OpCo, LLC - Unfunded Revolver Acquisition 8/16/2021 Maturity 08/16/2026 Industry Personal Products2025-10-012025-12-310001504619pflt:TwoThousandTwentySixNotesPayableMember2021-10-310001504619First Lien Secured Debt Issuer Name PCS MIDCO, Inc. Acquisition 4/10/2025 Maturity 03/01/2030 Industry Diversified Consumer Services Current Coupon 9.42% Basis Point Spread Above Index SOFR+5752025-12-310001504619us-gaap:InvestmentAffiliatedIssuerControlledMember2024-10-012024-12-310001504619Equity Securities Issuer Name 48Forty Intermediate Holdings, Inc. - Common Equity Acquisition 11/5/2024 Industry Containers and Packaging2025-10-012025-12-3100015046192023-04-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants GCOM InvestCo, LP - Common Equity Acquisition 6/22/2021 Industry IT Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Penta Group Holdings, Inc. - Unfunded Term Loan Acquisition 7/31/2025 Maturity 7/31/2027 Industry Professional Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Second Lien Secured Debt Team Services Group, LLC - 2nd Lien Acquisition 2/25/2024 Maturity 12/18/2028 Industry Healthcare Providers and Services Current Coupon 13.57% Basis Point Spread Above Index 3M SOFR+ 9262024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Pragmatic Holdco, Inc. - Common Equity Acquisition 3/28/2025 Industry Professional Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Hills Distribution, Inc. - Unfunded Term Loan Acquisition 11/2/2023 Maturity 12/05/2027 Industry Distributors2025-12-310001504619Investments in Controlled, Affiliated Portfolio Companies First Lien Secured Debt PennantPark Senior Secured Loan Fund I, LLC Acquisition 8/10/2020 Maturity 05/07/2029 Industry Financial Services Current Coupon 11.88% Basis Point Spread Above Index 3M SOFR+ 8002025-12-3100015046192024-10-012024-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:ValuationTechniqueMarketComparableMembersrt:WeightedAverageMemberpflt:MeasurementInputMarketYieldMemberpflt:FirstLienMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Coolsys, Inc. Acquisition 8/27/2025 Maturity 08/11/2028 Industry Commercial Services & Supplies Current Coupon 9.34% Basis Point Spread Above Index 3M SOFR+ 5012025-09-300001504619pflt:PennantParkSeniorSecuredLoanFundIILLCMemberpflt:TotalFirstLienSecuredDebtMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity TWD Parent Holdings, LLC - Preferred Equity Acquisition 8/25/2021 Industry Construction & Engineering2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Commercial Fire Protection Holdings, LLC - Unfunded Revolver Acquisition 9/23/2024 Maturity 09/23/2026 Industry Commercial Services & Supplies2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sales Benchmark Index, LLC - Unfunded Revolver Acquisition 12/23/2019 Maturity 07/07/2026 Industry Professional Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Seaway Topco, LP - Common Equity Acquisition 6/8/2022 Industry Chemicals, Plastics and Rubber2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Kinetic Purchaser, LLC - Funded Revolver Acquisition 11/08/2021 Maturity 11/10/2026 Industry Personal Products Current Coupon 10.15% Basis Point Spread Above Index 3M SOFR+ 6152025-09-300001504619First Lien Secured Debt Issuer Name Safe Haven Defense US, LLC Acquisition 9/19/2024 Maturity 05/23/2029 Industry Construction and Building Current Coupon 9.19% Basis Point Spread Above Index SOFR+5502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Express Wash Acquisition Company, LLC Acquisition 04/10/2025 Maturity 04/10/2031 Industry Automobiles Current Coupon 10.58% Basis Point Spread Above Index 3M SOFR+ 6252025-09-300001504619pflt:DiversifiedConsumerServicesMember2025-09-300001504619pflt:FirstLienInPSSLMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MES Intermediate, Inc. - Unfunded Revolver Acquisition 9/23/2021 Maturity 10/01/2027 Industry Distributors2025-12-310001504619pflt:IncentiveFeePaymentConditionOneMember2024-10-012025-06-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Team Services Group, LLC Acquisition 2/23/2024 Maturity 12/20/2027 Industry Healthcare Providers and Services Current Coupon 0.00% Basis Point Spread Above Index 3M SOFR+ 5252025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Recteq, LLC - Funded Revolver Acquisition 1/27/2021 Maturity 01/29/2026 Industry Leisure Products Current Coupon 9.84% Basis Point Spread Above Index 3M SOFR+ 6252025-12-310001504619pflt:DebtSecuritizationMember2025-02-280001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Loving Tan Intermediate II, Inc. - Funded Revolver Acquisition 5/24/2023 Maturity 05/31/2028 Industry Personal Products Current Coupon 9.00% Basis Point Spread Above Index 3M SOFR+ 5002024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Output Services Group, Inc. - First-Out Term Loan Acquisition 12/1/2023 Maturity 11/30/2028 Industry Business Services Current Coupon 12.71% Basis Point Spread Above Index SOFR+8432025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rancho Health MSO, Inc. - Unfunded Term Loan Acquisition 12/20/2024 Maturity 06/30/2026 Industry Healthcare Equipment and Supplies2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Argano, LLC – Unfunded Revolver Acquisition 9/13/2024 Maturity 09/13/2029 Industry Business Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Ro Health Holdings, Inc. - Common Equity Acquisition 1/16/2025 Industry Healthcare Providers and Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt SV-Aero Holdings, LLC - Unfunded Term Loan Acquisition 10/31/2024 Maturity 11/2/2026 Industry Aerospace and Defense2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ORL Acquisition, Inc. - Unfunded Revolver Acquisition 9/1/2021 Maturity 09/03/2027 Industry Consumer Finance2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Smile Brands, Inc. - Unfunded Revolver Acquisition 10/4/2018 Maturity 10/12/2027 Industry Healthcare and Pharmaceuticals2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants TAC Lifeport Holdings, LLC - Common Equity Acquisition 2/24/2021 Industry Aerospace and Defense2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Gauge ETE Blocker, LLC - Common Equity Acquisition 5/24/2023 Industry Diversified Consumer Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sabel Systems Technology Solutions, LLC - Unfunded Revolver Acquisition 10/31/2024 Maturity 10/31/2030 Industry Government Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants QuantiTech InvestCo, LP - Unfunded Common Equity Acquisition 5/1/2020 Industry Aerospace and Defense2025-09-300001504619pflt:TruistCreditFacilityMemberpflt:SecuredOvernightFinancingRateMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt Schlesinger Global, LLC - Promissory Note Acquisition 2/21/2024 Maturity 09/30/2027 Industry Professional Services Current Coupon 12.56% Basis Point Spread Above Index 3M SOFR+ 8602025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carnegie Dartlet, LLC Acquisition 2/7/2024 Maturity 2/7/2030 Industry Professional Services Current Coupon 9.22% Basis Point Spread Above Index 3M SOFR+ 5502025-03-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants ORL Holdco, Inc. - Common Equity Acquisition 9/1/2021 Industry Consumer Finance2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Spendmend Holdings, LLC - Unfunded Term Loan Acquisition 3/1/2022 Maturity 11/25/2026 Industry Healthcare Technology2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TMII Enterprises, LLC Acquisition 12/19/2022 Maturity 12/22/2028 Industry Commercial Services & Supplies Current Coupon 8.22% Basis Point Spread Above Index 3M SOFR+ 4502025-10-012025-12-310001504619pflt:GamingMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Crane 1 Services, Inc. - Unfunded Revolver Acquisition 8/11/2021 Maturity 8/16/2027 Industry Commercial Services & Supplies2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cf512, Inc. - Funded Revolver Acquisition 8/17/2021 Maturity 8/20/2026 Industry Media Current Coupon 9.74% Basis Point Spread Above Index 3M SOFR+ 6022025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Paving Lessor Corp. - Unfunded Term Loan Acquisition 7/1/2025 Maturity 07/01/2027 Industry Business Services2025-10-012025-12-310001504619pflt:TwoThousandThirtySevenAssetBackedDebtMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TransGo, LLC Acquisition 12/29/2023 Maturity 12/29/2028 Industry Auto Components Current Coupon 9.91% Basis Point Spread Above Index 3M SOFR+ 5752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Duggal Equity, LP - Common Equity Acquisition 9/30/2024 Industry Marketing Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Big Top Holdings, LLC Acquisition 2/29/2024 Maturity 03/01/2030 Industry Construction & Engineering Current Coupon 9.50% Basis Point Spread Above Index 3M SOFR+ 5502024-10-012025-09-300001504619pflt:TruistCreditFacilityMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Case Works, LLC - Funded Revolver Acquisition 10/1/2024 Maturity 10/1/2029 Industry Professional Services Current Coupon 8.92% Basis Point Spread Above Index 3M SOFR+ 5252025-12-310001504619First Lien Secured Debt Issuer Name One Stop Mailing, LLC Acquisition 7/8/2021 Maturity 05/07/2027 Industry Air Freight and Logistics Current Coupon 10.08% Basis Point Spread Above Index SOFR+6362025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Blue Cloud Pediatric Surgery Centers LLC Acquisition 8/12/2025 Maturity 01/21/2031 Industry Healthcare Providers and Services Current Coupon 9.48% Basis Point Spread Above Index 3M SOFR+ 5252025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sath Industries, LLC - Unfunded Revolver Acquisition 12/17/2024 Maturity 12/17/2029 Industry Event Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Pragmatic Institute, LLC Acquisition 3/28/2025 Maturity 03/28/2030 Industry Professional Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Puget Collision, LLC - Funded Revolver Acquisition 10/3/2025 Maturity 10/03/2031 Industry Automobiles Current Coupon 8.42% Basis Point Spread Above Index 3M SOFR+ 4752025-10-012025-12-310001504619pflt:TwoThousandAndThirtySevenAssetBackedDebtMemberpflt:ClassDNotesMember2025-02-280001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Medina Health, LLC - Unfunded Revolver Acquisition 10/16/2023 Maturity 10/20/2028 Industry Healthcare Providers and Services2024-10-012025-09-300001504619pflt:InternetSoftwareAndServicesMember2025-12-310001504619pflt:PennantParkFloatingRateCapitalLtdMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Impact Advisors, LLC - Unfunded Term Loan Acquisition 3/21/2025 Maturity 03/21/2027 Industry Business Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt OSP Embedded Purchaser, LP - Convertible Note Acquisition 11/6/2024 Maturity 05/8/2030 Industry Aerospace and Defense Current Coupon 12.00%2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Kinetic Purchaser, LLC - Common Equity - Class A Acquisition 11/8/2021 Industry Personal Products2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt The Vertex Companies, LLC - Funded Revolver Acquisition 8/25/2021 Maturity 08/31/2028 Industry Construction & Engineering Current Coupon 8.82% Basis Point Spread Above Index 1M SOFR+ 5102025-10-012025-12-310001504619pflt:HighTechIndustriesMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Infinity Home Services Holdco, Inc. - Unfunded Revolver Acquisition 12/21/2022 Maturity 12/28/2028 Industry Commercial Services & Supplies2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Urology Management Holdings, Inc. - Unfunded Term Loan Acquisition 9/3/2024 Maturity 09/03/2026 Industry Healthcare Providers and Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ro Health, LLC Acquisition 1/16/2025 Maturity 01/17/2031 Industry Healthcare Providers and Services Current Coupon 8.17% Basis Point Spread Above Index 3M SOFR+ 4502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants NORA Parent Holdings, LLC - Common Equity Acquisition 8/22/2023 Industry Healthcare Providers and Services2025-09-300001504619First Lien Secured Debt Issuer Name Case Works, LLC Acquisition 11/18/2025 Maturity 10/1/2029 Industry Professional Services Current Coupon 8.92% Basis Point Spread Above Index SOFR+5252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Commercial Fire Protection Holdings, LLC Acquisition 9/23/2024 Maturity 09/23/2030 Industry Commercial Services & Supplies Current Coupon 8.50% Basis Point Spread Above Index 3M SOFR+ 4502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Lash OpCo, LLC Acquisition 8/16/2021 Maturity 02/18/2027 Industry Personal Products Current Coupon 8.82% (PIK 5.10%) Basis Point Spread Above Index 1M SOFR+ 5102025-10-012025-12-310001504619pflt:TwoThousandAndThirtySixAssetBackedDebtMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2025-09-300001504619First Lien Secured Debt Issuer Name Sath Industries, LLC Acquisition 4/10/2025 Maturity 12/17/2029 Industry Event Services Current Coupon 9.66% Basis Point Spread Above Index SOFR+5502024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Smile Brands, Inc. Acquisition 1/27/2021 Maturity 10/12/2027 Industry Healthcare and Pharmaceuticals Current Coupon 9.77% Basis Point Spread Above Index SOFR+6002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants APT Holdings, LLC - Common Equity Acquisition 9/29/2025 Industry Healthcare Providers and Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Omnia Exterior Solutions, LLC - Unfunded Revolver Acquisition 12/29/2023 Maturity 12/31/2029 Industry Diversified Consumer Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt HW Holdco, LLC Acquisition 1/9/2019 Maturity 5/11/2026 Industry Media Current Coupon 9.62% Basis Point Spread Above Index 3M SOFR+ 5902025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Kinetic Purchaser, LLC Acquisition 11/08/2021 Maturity 11/10/2027 Industry Personal Products Current Coupon 10.19% Basis Point Spread Above Index 3M SOFR+ 6152025-09-300001504619First Lien Secured Debt Issuer Name ACP Falcon Buyer, Inc. Acquisition 8/22/2023 Maturity 8/1/2029 Industry Business Services Current Coupon 9.79% Basis Point Spread Above Index SOFR+5502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants WCP Ivyrehab Coinvestment, LP - Common Equity Acquisition 6/27/2022 Industry Healthcare Providers and Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carnegie Dartlet, LLC - Unfunded Term Loan Acquisition 2/7/2024 Maturity 2/9/2026 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Beta Plus Technologies, Inc. Acquisition 2/29/2024 Maturity 07/02/2029 Industry Internet Software and Services Current Coupon 9.42% Basis Point Spread Above Index 1M SOFR+ 5752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt Integrative Nutrition, LLC - Promissory Note Acquisition 4/17/2025 Maturity 04/15/2033 Industry Consumer Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Podean Buyer, LLC - Unfunded Revolver Acquisition 8/4/2025 Maturity 08/04/2031 Industry Marketing Services2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Ro Health, LLC Acquisition 3/3/2025 Maturity 1/17/2031 Industry Healthcare Providers and Services Current Coupon 8.50% Basis Point Spread Above Index SOFR+4502025-09-300001504619pflt:PriorCreditFacilityMember2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Aechelon Technology, Inc. Acquisition 4/10/2025 Maturity 8/16/2029 Industry Aerospace and Defense Current Coupon 9.47% Basis Point Spread Above Index SOFR+5752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PAR Excellence Holdings, Inc. Acquisition 9/3/2024 Maturity 9/3/2030 Industry Healthcare Technology Current Coupon 9.32% Basis Point Spread Above Index 3M SOFR+ 5002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Gauge Loving Tan, LP - Common Equity Acquisition 5/25/2023 Industry Personal Products2025-09-300001504619First Lien Secured Debt Issuer Name Boss Industries, LLC Acquisition 4/10/2025 Maturity 12/27/2030 Industry Independent Power and Renewable Electricity Producers Current Coupon 8.67% Basis Point Spread Above Index SOFR+5002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ro Health, LLC - Unfunded Revolver Acquisition 1/16/2025 Maturity 1/17/2031 Industry Healthcare Providers and Services2024-10-012025-09-300001504619pflt:TwoThousandAndThirtySixAssetBackedDebtMemberpflt:ClassB2SeniorSecuredFixedRateNotesDue2031Member2024-02-290001504619First Lien Secured Debt Issuer Name Pragmatic Institute, LLC Acquisition 3/28/2025 Maturity 03/28/2030 Industry Education2025-10-012025-12-310001504619us-gaap:EquityMember2025-09-300001504619First Lien Secured Debt Issuer Name Pacific Purchaser, LLC Acquisition 11/18/2025 Maturity 10/2/2028 Industry Professional Services Current Coupon 9.85% Basis Point Spread Above Index SOFR+6252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Pink Lily Holdco, LLC - Common Equity Acquisition 6/16/2017 Industry Textiles, Apparel and Luxury Goods2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name MDI Buyer, Inc. Acquisition 4/11/2023 Maturity 07/25/2028 Industry Chemicals, Plastics and Rubber Current Coupon 8.57% Basis Point Spread Above Index SOFR+4752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Anteriad Holdings, LP (f/k/a MeritDirect Holdings, LP) - Preferred Equity Acquisition 5/21/2019 Industry Media2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Pragmatic Holdco, Inc. - Common Equity Acquisition 11/5/2021 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Recteq, LLC Acquisition 1/27/2021 Maturity 1/29/2026 Industry Leisure Products Current Coupon 10.40% Basis Point Spread Above Index 3M SOFR+ 6402024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt AFC-Dell Holding Corp. Acquisition 2/22/2024 Maturity 04/09/2027 Industry Distributors Current Coupon 8.84% Basis Point Spread Above Index 3M SOFR+ 5002025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Municipal Emergency Services, Inc. Acquisition 11/19/2025 Maturity 10/1/2027 Industry Distributors Current Coupon 8.42%Basis Point Spread Above Index SOFR+4752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Municipal Emergency Services, Inc. - Unfunded Term Loan Acquisition 9/23/2021 Maturity 01/15/2026 Industry Distributors2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt OSP Embedded Purchaser, LLC - Unfunded Revolver Acquisition 12/11/2023 Maturity 12/17/2029 Industry Aerospace and Defense2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt North American Rail Solutions, LLC - Unfunded Term Loan Acquisition 8/29/2025 Maturity 08/29/2027 Industry Manufacturing/Basic Industry2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt NBH Group, LLC - Unfunded Revolver Acquisition 8/16/2021 Maturity 08/19/2026 Industry Healthcare Equipment and Supplies2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Inovex Information Systems Incorporated Acquisition 12/17/2024 Maturity 12/17/2030 Industry Software Current Coupon 8.92% Basis Point Spread Above Index 3M SOFR+ 5252025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Megawatt Acquisitionco, Inc. Acquisition 4/29/2024 Maturity 03/01/2030 Industry Electronic Equipment, Instruments, and Components Current Coupon 9.17% Basis Point Spread Above Index SOFR+5502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity TPC Holding Company, LP - Preferred Equity Acquisition 12/4/2019 Industry Food Products2025-12-310001504619First Lien Secured Debt Issuer Name Systems Planning And Analysis, Inc. Acquisition 3/15/2022 Maturity 8/16/2027 Industry Aerospace and Defense Current Coupon 8.92% Basis Point Spread Above Index SOFR+4752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Lightspeed Investment Holdco, LLC - Common Equity Acquisition 1/21/2020 Industry Healthcare Technology2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Safe Haven Defense US, LLC - Unfunded Revolver Acquisition 5/23/2024 Maturity 5/23/2029 Industry Building Products2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Spendmend Holdings, LLC - Funded Revolver Acquisition 3/1/2022 Maturity 03/01/2028 Industry Healthcare Technology Current Coupon 8.82% Basis Point Spread Above Index 3M SOFR+ 5152025-10-012025-12-310001504619pflt:PennantParkSeniorSecuredLoanFundIILLCMember2025-11-182025-12-310001504619pflt:ConsumerServicesMember2025-09-300001504619First Lien Secured Debt Issuer Name MAG DS Corp. Acquisition 9/27/2023 Maturity 04/01/2027 Industry Aerospace and Defense Current Coupon 9.27% Basis Point Spread Above Index SOFR+5602025-12-310001504619us-gaap:CashAndCashEquivalentsMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Aphix Buyer, Inc. - Unfunded Revolver Acquisition 7/17/2025 Maturity 07/17/2031 Industry Business Services2025-12-310001504619pflt:BuildingProductsMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Smile Brands, Inc. - Unfunded Revolver - LC Acquisition 10/4/2018 Maturity 10/12/2027 Industry Healthcare and Pharmaceuticals2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Unitek Global Services, Inc. - Warrants Acquisition 6/27/2022 Industry Telecommunications2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Lash OpCo, LLC Acquisition 8/16/2021 Maturity 02/18/2027 Industry Personal Products Current Coupon 12.16% (PIK 5.10%) Basis Point Spread Above Index 1M SOFR+ 7852024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Lucky Bucks, LLC - Last-Out Term Loan Acquisition 11/02/2023 Maturity 10/02/2029 Industry Hotels, Restaurants and Leisure Current Coupon 12.01% Basis Point Spread Above Index 1M SOFR+ 7652025-09-300001504619pflt:LiabilitiesInExcessOfOtherAssetsMember2025-12-310001504619us-gaap:FairValueInputsLevel2Memberpflt:TwoThousandAndThirtySixAssetBackedDebtMember2025-12-310001504619pflt:TwoThousandAndThirtyOneAssetBackedDebtMemberpflt:ClassDSecuredDeferrableFloatingRateLoansDue2031Member2019-09-012019-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MDI Buyer, Inc. - Unfunded Revolver Acquisition 7/19/2022 Maturity 07/25/2028 Industry Commodity Chemicals2025-09-300001504619First Lien Secured Debt Issuer Name Rural Sourcing Holdings, Inc. Acquisition 9/6/2023 Maturity 06/15/2029 Industry High Tech Industries Current Coupon 9.85% Basis Point Spread Above Index SOFR+6252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Schlesinger Global, Inc. Acquisition 10/24/2019 Maturity 03/31/2027 Industry Professional Services Current Coupon 9.82% (PIK 5.85%) Basis Point Spread Above Index 3M SOFR+ 6102025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carisk Buyer, Inc. - Unfunded Revolver Acquisition 11/27/2023 Maturity 12/3/2029 Industry Healthcare Technology2025-12-310001504619us-gaap:FairValueInputsLevel1Memberpflt:FirstLienMember2025-12-310001504619First Lien Secured Debt Issuer Name Smile Brands, Inc. Acquisition 1/27/2021 Maturity 10/12/2027 Industry Healthcare and Pharmaceuticals Current Coupon 10.10% Basis Point Spread Above Index SOFR+6102024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt CJX Borrower, LLC - Unfunded Term Loan Acquisition 7/8/2021 Maturity 7/13/2027 Industry Media2025-12-310001504619First Lien Secured Debt Issuer Name C5MI Acquisition, LLC Acquisition 3/7/2025 Maturity 7/31/2029 Industry IT Services Current Coupon 9.67% Basis Point Spread Above Index SOFR+6002025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Harris & Co, LLC Acquisition 11/26/2024 Maturity 08/09/2030 Industry Professional Services Current Coupon 8.72% Basis Point Spread Above Index SOFR+5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Megawatt Acquisitionco, Inc. - Unfunded Revolver Acquisition 3/1/2024 Maturity 03/01/2030 Industry Electronic Equipment, Instruments, and Components2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt The Vertex Companies, LLC - Unfunded Revolver Acquisition 8/25/2021 Maturity 08/31/2028 Industry Construction & Engineering2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Aechelon Technology, Inc. Acquisition 8/16/2024 Maturity 08/16/2029 Industry Aerospace and Defense Current Coupon 9.91% Basis Point Spread Above Index 1M SOFR+ 5752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Big Top Holdings, LLC - Unfunded Revolver Acquisition 2/29/2024 Maturity 02/28/2030 Industry Construction & Engineering2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TransGo, LLC Acquisition 12/29/2023 Maturity 12/29/2028 Industry Auto Components Current Coupon 9.51% Basis Point Spread Above Index 3M SOFR+ 5752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ORL Acquisition, Inc. Acquisitions 9/1/2021 Maturity 09/03/2027 Industry Consumer Finance Current Coupon 13.70% (PIK 7.50%) Basis Point Spread Above Index 3M SOFR+ 9402024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Gauge Lash Coinvest, LLC - Common Equity Acquisition 12/4/2019 Industry Personal Products2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants OSP PAR Aggregator, LP - Common Equity Acquisition 9/3/2024 Industry Healthcare Technology2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants C5MI Holdco, LLC - Common Equity Acquisition 7/31/2024 Industry IT Services2025-09-300001504619First Lien Secured Debt Issuer Name Safe Haven Defense US, LLC Acquisition 9/19/2024 Maturity 05/23/2029 Industry Construction and Building Current Coupon 9.19% Basis Point Spread Above Index SOFR+5502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt First Medical MSO, LLC - Unfunded Revolver Acquisition 06/13/2025 Maturity 06/13/2031 Industry Healthcare Providers and Services2025-09-300001504619pflt:AdministratorMember2024-10-012024-12-310001504619First Lien Secured Debt Issuer Name TMII Enterprises, LLC Acquisition 11/18/2025 Maturity 12/22/2028 Industry Professional Services Current Coupon 8.22% Basis Point Spread Above Index SOFR+4502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Walker Edison Furniture Company, LLC - New Money DIP Acquisition 8/29/2025 Maturity 03/01/2029 Industry Wholesale Current Coupon 10.00%2025-12-310001504619First Lien Secured Debt Issuer Name Schlesinger Global, Inc. Acquisition 9/30/2021 Maturity 10/24/2025 Industry Business Services Current Coupon 9.82% Basis Point Spread Above Index SOFR+6102025-12-310001504619First Lien Secured Debt Issuer Name Wash & Wax Systems LLC Acquisition 4/30/2025 Maturity 4/30/2028 Industry Automobiles Current Coupon 9.81% Basis Point Spread Above Index SOFR+5502024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Commercial Fire Protection Holdings, LLC Acquisition 11/26/2024 Maturity 09/23/2030 Industry Commercial Services & Supplies Current Coupon 8.17% Basis Point Spread Above Index SOFR+4502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Kinetic Purchaser, LLC - Common Equity - Class A Acquisition 11/8/2021 Industry Personal Products2025-09-300001504619us-gaap:FairValueInputsLevel3Memberpflt:ValuationTechniqueMarketComparableMemberus-gaap:MeasurementInputRevenueMultipleMemberpflt:FirstLienMember2025-12-310001504619pflt:BlackRockFederalFDInstitutionalEightyOneMoneyMarketFundMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Lucky Bucks Holdco, LLC - Common Equity Acquisition 10/2/2023 Industry Hotels, Restaurants and Leisure2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Hancock Roofing and Construction, LLC Acquisition 12/23/2020 Maturity 12/31/2026 Industry Insurance Current Coupon 9.90% Basis Point Spread Above Index 3M SOFR+ 5602024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ACP Avenu Buyer, LLC - Unfunded Revolver Acquisition 10/2/2023 Maturity 10/02/2029 Industry IT Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Harris & Co. LLC. - Unfunded Term Loan B Acquisition 08/09/2024 Maturity 02/09/2026 Industry Professional Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Peninsula Pacific Entertainment, LLC - Unfunded Term Loan Acquisition 8/15/2025 Maturity 8/25/2027 Industry Gaming2024-10-012025-09-300001504619pflt:TwoThousandAndThirtySevenAssetBackedDebtMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Recteq, LLC Acquisition 1/27/2021 Maturity 1/29/2026 Industry Leisure Products Current Coupon 10.40% Basis Point Spread Above Index 3M SOFR+ 6402025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Systems Planning And Analysis, Inc. - Unfunded Term Loan Acquisition 10/12/2021 Maturity 06/12/2027 Industry Aerospace and Defense2025-12-310001504619pflt:ClassCRNotesMemberpflt:SecuredOvernightFinancingRateMemberpflt:RTwoThousandAndThirtySixAssetBackedDebtMember2024-07-252024-07-250001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Wash & Wax Group, LP - Common Equity Acquisition 4/30/2025 Industry Consumer Services2025-09-300001504619First Lien Secured Debt Issuer Name Blackhawk Industrial Distribution, Inc. Acquisition 6/30/2022 Maturity 9/17/2026 Industry Distributors Current Coupon 9.07% Basis Point Spread Above Index SOFR+5402025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Efficient Collaborative Retail Marketing Company, LLC Acquisition 10/23/2018 Maturity 9/30/2026 Industry Media: Diversified and Production Current Coupon 10.68% (PIK 2.5%) Basis Point Spread Above Index 3M SOFR+ 7012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants OHCP V BC COI, LP - Common Equity Acquisition 12/13/2021 Industry Distributors2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ACP Avenu Buyer, LLC - Unfunded Term Loan Acquisition 10/2/2023 Maturity 04/21/2027 Industry IT Services2025-12-310001504619First Lien Secured Debt Issuer Name TMII Enterprises, LLC Acquisition 4/11/2023 Maturity 12/22/2028 Industry Commercial Services & Supplies Current Coupon 8.66% Basis Point Spread Above Index SOFR+4502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt The Vertex Companies, LLC Acquisition 8/25/2021 Maturity Date 8/31/2028 Industry Construction & Engineering Current Coupon 9.01% Basis Point Spread Above Index 1M SOFR+ 4952024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Best Practice Associates, LLC Acquisition 4/10/2025 Maturity 11/8/2029 Industry Aerospace and Defense Current Coupon 10.91% Basis Point Spread Above Index SOFR+6752024-10-012025-09-300001504619First Lien Secured Debt Issuer Name LAV Gear Holdings, Inc. - Priority TL Acquisition 7/31/2025 Maturity 7/31/2029 Industry Capital Equipment Current Coupon 10.10% Basis Point Spread Above Index SOFR+5942024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Lash OpCo, LLC - Unfunded Revolver Acquisition 8/16/2021 Maturity 08/16/2026 Industry Personal Products2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Watchtower Holdings, LLC - Common Equity Acquisition 6/14/2021 Industry Electronic Equipment, Instruments, and Components2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PlayPower, Inc. Acquisition 8/28/2024 Maturity 8/28/2030 Industry Leisure Products Current Coupon 9.25% Basis Point Spread Above Index 1M SOFR+ 5252024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Tinicum Space Coast Co-Invest, LLC Acquisition 12/4/2019 Industry Aerospace and Defense2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Watchtower Buyer, LLC - Funded Revolver Acquisition 11/29/2023 Maturity 12/03/2029 Industry Electronic Equipment, Instruments, and Components Current Coupon 9.69% Basis Point Spread Above Index 3M SOFR+ 6002025-10-012025-12-310001504619pflt:ClassCNotesMemberpflt:PennantParkCLO12LLCMember2025-04-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MDI Buyer, Inc. Acquisition 3/16/2023 Maturity 07/25/2028 Industry Commodity Chemicals Current Coupon 8.46% Basis Point Spread Above Index 3M SOFR+ 4752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PCS MIDCO, Inc. Acquisition 3/1/2024 Maturity 03/01/2030 Industry Professional Services Current Coupon 9.42% Basis Point Spread Above Index 3M SOFR+ 5752025-12-310001504619srt:MinimumMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity C5MI Holdco, LLC - Preferred Equity Acquisition 7/31/2024 Industry IT Services2025-09-300001504619pflt:TwoThousandAndThirtyOneAssetBackedDebtMemberpflt:ClassDSecuredDeferrableFloatingRateLoansDue2031Memberpflt:SecuredOvernightFinancingRateMember2019-09-012019-09-300001504619pflt:ControlledAffiliatedInvestmentsMember2025-09-300001504619First Lien Secured Debt Issuer Name Loving Tan Intermediate II, Inc. Acquisition 10/25/2023 Maturity 5/31/2028 Industry Personal Products Current Coupon 9.00% Basis Point Spread Above Index SOFR+5002025-09-300001504619pflt:ConsultingServicesMember2025-09-300001504619First Lien Secured Debt Issuer Name APT OPCO, LLC Acquisition 11/18/2025 Maturity 9/30/2031 Industry Healthcare Providers & Services Current Coupon 8.67% Basis Point Spread Above Index SOFR+5002025-12-310001504619us-gaap:FairValueInputsLevel3Member2024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants TPC Holding Company, LP - Common Equity Acquisition 12/4/2019 Industry Food Products2025-09-300001504619us-gaap:FairValueInputsLevel2Memberpflt:SecondLienMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Infolinks Media Buyco, LLC Acquisition 2/22/2024 Maturity 11/02/2026 Industry Media Current Coupon 9.42% Basis Point Spread Above Index 3M SOFR+ 5752025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Medina Health, LLC Acquisition 11/18/2025 Maturity 10/20/2028 Industry Healthcare and Pharmaceuticals Current Coupon 9.92% Basis Point Spread Above Index SOFR+6252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Recteq, LLC - Funded Revolver Acquisition 1/27/2021 Maturity 01/29/2026 Industry Leisure Products Current Coupon 9.84% Basis Point Spread Above Index 3M SOFR+ 6252025-10-012025-12-310001504619pflt:PennantParkSeniorSecuredLoanFundILLCMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt NBH Group, LLC - Unfunded Revolver Maturity 08/19/2026 Industry Healthcare Equipment and Supplies2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cornerstone Advisors of Arizona, LLC - Unfunded Revolver Acquisition 5/13/2025 Maturity 05/13/2032 Industry Consulting Services2024-10-012025-09-300001504619pflt:SubordinateDebtMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants GCP Boss Holdco, LLC Acquisition 12/27/2024 Industry Independent Power and Renewable Electricity Producers2025-12-310001504619First Lien Secured Debt Issuer Name Walker Edison Furniture Company, LLC - New Money DIP Acquisition 8/29/2025 Maturity 3/1/2029 Industry Wholesale Current Coupon 10.00%2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Paving Lessor Corp. Acquisition 7/1/2025 Maturity 7/1/2031 Industry Business Services Current Coupon 9.25%2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MES Intermediate, Inc. - Funded Revolver Acquisition 9/23/2021 Maturity 10/01/2027 Industry Distributors Current Coupon 11.50% Basis Point Spread Above Index 3M SOFR+ 4002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt RRA Corporate, LLC - Unfunded Term Loan Acquisition 8/15/2024 Maturity 8/17/2026 Industry Diversified Consumer Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity HPA SPQ Aggregator, LP - Preferred Equity Acquisition 6/8/2023 Industry Professional Services2025-10-012025-12-310001504619pflt:ConsultingServicesMember2025-12-310001504619First Lien Secured Debt Issuer Name Walker Edison Furniture Company, LLC - New Money DIP Acquisition 8/29/2025 Maturity 3/1/2029 Industry Wholesale Current Coupon 10.00%2024-10-012025-09-300001504619srt:AffiliatedEntityMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Eval Home Care Solutions Intermediate, LLC Acquisition 05/10/2024 Maturity 05/10/2030 Industry Healthcare, Education and Childcare Current Coupon 9.91% Basis Point Spread Above Index 1M SOFR+ 5752025-09-300001504619Subordinate Debt Issuer Name Wash & Wax Systems LLC Acquisition 4/30/2025 Maturity 7/30/2028 Industry Automobiles Current Coupon 12.00%2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants LJ Avalon, LP - Common Equity Acquisition 1/18/2023 Industry Construction & Engineering2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Crane 1 Acquisition Parent Holdings, LP - Common Equity Acquisition 8/11/2021 Industry Commercial Services & Supplies2025-09-300001504619First Lien Secured Debt Issuer Name RTIC Subsidiary Holdings, LLC Acquisition 11/1/2024 Maturity 05/03/2029 Industry Leisure Products Current Coupon 9.42% Basis Point Spread Above Index SOFR+5752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt BLC Holding Company, Inc. - Unfunded Revolver Acquisition 11/20/2024 Maturity 11/20/2030 Industry Business Services2025-03-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Magnolia Topco, LP - Preferred Equity - Class A Acquisition 7/25/2023 Industry Automobiles2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Duggal Acquisition, LLC - Unfunded Revolver Acquisition 9/30/2024 Maturity 09/30/2030 Industry Marketing Services2025-09-300001504619First Lien Secured Debt Issuer Name TCG 3.0 Jogger Acquisitionco, Inc. Acquisition 4/26/2024 Maturity 01/23/2029 Industry Media Current Coupon 10.17% Basis Point Spread Above Index SOFR+6502025-10-012025-12-310001504619pflt:TotalInvestmentsMemberpflt:PennantParkSeniorSecuredLoanFundIILLCMember2025-12-310001504619pflt:ClassA1SeniorSecuredFloatingRateNotesDue2031Memberpflt:TwoThousandAndThirtyOneAssetBackedDebtMember2019-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Lucky Bucks, LLC - First-Out Term Loan Acquisition 11/02/2023 Maturity 10/02/2028 Industry Hotels, Restaurants and Leisure Current Coupon 12.01% Basis Point Spread Above Index 1M SOFR+ 7652024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Dynata, LLC - First Out Term Loan Acquisition 7/15/2024 Maturity 7/17/2028 Industry Business Services Current Coupon 9.14% Basis Point Spread Above Index 3M SOFR+ 5262025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt DX Electric Company, LLC Acquisition 10/1/2025 Maturity 10/1/2031 Industry Electronic Equipment, Instruments, and Components Current Coupon 8.92% Basis Point Spread Above Index 3M SOFR+ 5252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity RTIC Parent Holdings, LLC - Preferred Equity - Class D Acquisition 5/3/2024 Industry Leisure Products2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Inovex Information Systems Incorporated Acquisition 3/3/2025 Maturity 12/17/2030 Industry Software Current Coupon 8.92% Basis Point Spread Above Index SOFR+5252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt GGG Midco, LLC Acquisition 9/27/2024 Maturity 9/27/2030 Industry Diversified Consumer Services Current Coupon 8.67% Basis Point Spread Above Index 3M SOFR+ 5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Pink Lily Holdco, LLC - Common Equity Acquisition 11/5/2021 Industry Textiles, Apparel and Luxury Goods2024-10-012025-09-300001504619pflt:TaxableSubsidiaryMember2024-10-012024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Hancock Roofing and Construction, LLC - Funded Revolver Acquisition 12/23/2020 Maturity 12/31/2026 Industry Consumer products Current Coupon 9.76% Basis Point Spread Above Index 3M SOFR+ 6002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants HV Watterson Holdings, LLC - Common Equity Acquisition 6/13/2022 Industry Professional Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name HEC Purchaser Corp. Acquisition 4/10/2025 Maturity 06/17/2029 Industry Healthcare and Pharmaceuticals Current Coupon 8.87% Basis Point Spread Above Index SOFR+5002025-12-310001504619First Lien Secured Debt Issuer Name BLC Holding Company, Inc. Acquisition 11/18/2025 Maturity 11/20/2030 Industry Commercial Services & Supplies Current Coupon 8.17% Basis Point Spread Above Index SOFR+4502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Urology Management Holdings, Inc. - Unfunded Term Loan Acquisition 9/3/2024 Maturity 09/03/2026 Industry Healthcare Providers and Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt EDS Buyer, LLC. - Unfunded Revolver Acquisition 12/19/2022 Maturity 1/10/2029 Industry Electronic Equipment, Instruments, and Components2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Tyto Athene, LLC Acquisition 3/26/2021 Maturity 04/03/2028 Industry IT Services Current Coupon 8.56% Basis Point Spread Above Index 3M SOFR+ 4902025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Penta Group Holdings, Inc. - Unfunded Term Loan Acquisition 7/31/2025 Maturity 7/31/2027 Industry Professional Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt IG Investments Holdings, LLC - Unfunded Revolver Acquisition 11/23/2021 Maturity 09/22/2028 Industry Professional Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Gauge ETE Blocker, LLC Acquisition 5/24/2023 Maturity 5/21/2029 Industry Diversified Consumer Services Current Coupon 12.56%2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Safe Haven Defense US, LLC - Unfunded Revolver Acquisition 5/23/2024 Maturity 05/23/2029 Industry Building Products2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants NORA Parent Holdings, LLC - Common Equity Acquisition 8/22/2023 Industry Healthcare Providers and Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Rosco Topco, LLC - Common Equity Acquisition 9/9/2025 Industry Business Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants By Light Investco LP - Common Equity Acquisition 5/15/2017 Industry High Tech Industries2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Megawatt Acquisition Partners, LLC - Common Equity - Class A Acquisition 6/28/2024 Industry Electronic Equipment, Instruments, and Components2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt LAV Gear Holdings, Inc. - Unfunded Revolver Acquisition 7/31/2025 Maturity 07/31/2029 Industry Capital Equipment2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants StellPen Holdings, LLC (CF512, Inc.) - Common Equity Acquisition 8/17/2021 Industry Media2024-10-012025-09-300001504619pflt:TotalFirstLienSecuredDebtMember2025-12-310001504619pflt:SubordinateDebtMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-09-300001504619pflt:CashEquivalentsThreePointEightPercentOfNetAssetsMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Best Practice Associates, LLC - Unfunded Revolver Acquisition 11/7/2024 Maturity 11/08/2029 Industry Aerospace and Defense2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Gauge Lash Coinvest, LLC - Common Equity Acquisition 12/4/2019 Industry Personal Products2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Rosco Topco, LLC - Common Equity Acquisition 12/16/2020 Industry Business Services2025-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:TwoThousandThirtySevenAssetBackedDebtMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants HV Watterson Holdings, LLC - Common Equity Acquisition 6/13/2022 Industry Professional Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Pink Lily Holdco, LLC - Preferred Equity - Class A-1 Acquisition 11/5/2021 Industry Textiles, Apparel and Luxury Goods2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity C5MI Holdco, LLC - Preferred Equity Acquisition 7/31/2024 Industry IT Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TCG 3.0 Jogger Acquisitionco, Inc. Acquisition 1/23/2024 Maturity 01/23/2029 Industry Media Current Coupon 10.17% Basis Point Spread Above Index 3M SOFR+ 6502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ro Health, LLC - Funded Revolver Acquisition 1/16/2025 Maturity 1/17/2031 Industry Healthcare Providers and Services Current Coupon 9.00% Basis Point Spread Above Index 3M SOFR+ 5002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Infinity Home Services Holdco, Inc. (CAD) Acquisition 12/21/2022 Maturity 12/28/2028 Industry Commercial Services & Supplies Current Coupon 9.17% Basis Point Spread Above Index 3M SOFR+ 5502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt C5MI Acquisition, LLC - Funded Revolver Acquisition 7/31/2024 Maturity 7/31/2029 Industry IT Services Current Coupon 9.67% Basis Point Spread Above Index 3M SOFR+ 6002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity ORL Holdco, Inc. - Preferred Equity Acquisition 9/1/2021 Industry Consumer Finance2025-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:SecondLienSubordinatedDebtAndEquityInvestmentsMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MDI Buyer, Inc. - Unfunded Term Loan Acquisition 3/16/2023 Maturity 07/25/2028 Industry Commodity Chemicals2025-12-310001504619pflt:FirstLienMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Megawatt Acquisitionco, Inc. - Unfunded Revolver Acquisition 3/1/2024 Maturity 03/01/2030 Industry Electronic Equipment, Instruments, and Components2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Aechelon Technology, Inc. Acquisition 8/16/2024 Maturity 08/16/2029 Industry Aerospace and Defense Current Coupon 9.91% Basis Point Spread Above Index 1M SOFR+ 5752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Anteriad Holdings, LP (f/k/a MeritDirect Holdings, LP) - Common Equity Acquisition 5/21/2019 Industry Media2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt BLC Holding Company, Inc. - Unfunded Term Loan Acquisition 11/20/2024 Maturity 11/20/2026 Industry Business Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity UniTek Global Services, Inc. - Senior Preferred Equity Acquisition 1/13/2015 Industry Telecommunications Current Coupon 19.00%2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Exigo, LLC - Common Equity Acquisition 3/10/2022 Industry Software2025-12-310001504619pflt:AllOtherIndustriesMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Spendmend Holdings, LLC - Unfunded Term Loan Acquisition 3/1/2022 Maturity 11/25/2026 Industry Healthcare Technology2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt AFC-Dell Holding Corp. Acquisition 2/22/2024 Maturity 04/09/2027 Industry Distributors Current Coupon 9.70% Basis Point Spread Above Index 3M SOFR+ 5502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Capital Construction, LLC Acquisition 6/30/2025 Maturity 10/22/2026 Industry Consumer Services Current Coupon 9.56% Basis Point Spread Above Index 3M SOFR+ 5902025-03-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants AG Investco - Unfunded Common Equity Acquisition 11/5/2018 Industry Software2024-10-012025-09-300001504619pflt:FirstLienSecuredDebtMemberpflt:PennantParkSeniorSecuredLoanFundILLCMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carisk Buyer, Inc. Acquisition 11/27/2023 Maturity 12/03/2029 Industry Healthcare Technology Current Coupon 9.00% Basis Point Spread Above Index 3M SOFR+ 5002024-10-012025-09-300001504619Subordinate Debt Issuer Name Wash & Wax Systems LLC Acquisition 4/30/2025 Maturity 7/30/2028 Industry Automobiles Current Coupon 12.00%2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Infinity Home Services Holdco, Inc. (CAD) Acquisition 12/21/2022 Maturity 12/28/2028 Industry Commercial Services & Supplies Current Coupon 9.17% Basis Point Spread Above Index 3M SOFR+ 5502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cf512, Inc. Acquisition 8/17/2021 Maturity 08/20/2026 Industry Media Current Coupon 10.19% Basis Point Spread Above Index 3M SOFR+ 6192024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rosco Parent, LLC - Funded Revolver Acquisition 9/9/2025 Maturity 09/12/2031 Industry Business Services Current Coupon 8.42% Basis Point Spread Above Index 3M SOFR+ 4752025-12-310001504619pflt:PennantparkSeniorSecuredLoanFundLlcPortfolioMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt GGG Midco, LLC – Unfunded Revolver Acquisition 09/27/2024 Maturity 09/27/2030 Industry Diversified Consumer Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Aechelon InvestCo, LP Acquisition 8/16/2024 Industry Aerospace and Defense2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Tower Arch Infolinks Media, LP - Common Equity Acquisition 2/24/2021 Industry Media2025-10-012025-12-310001504619pflt:TwoThousandAndThirtyOneAssetBackedDebtMemberpflt:ClassA1SeniorSecuredFloatingRateLoansMember2019-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants TCG 3.0 Jogger Co-Invest, LP - Common Equity Acquisition 1/22/2024 Industry Media2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt Wash & Wax Systems, LLC - Subordinate Debt Acquisition 4/30/2025 Maturity 07/30/2028 Industry Consumer Services Current Coupon 12.00%2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Capital Construction, LLC Acquisition 6/30/2025 Maturity 10/22/2026 Industry Consumer Services Current Coupon 9.56% Basis Point Spread Above Index 3M SOFR+ 5902025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rosco Parent, LLC - Unfunded Revolver Acquisition 9/9/2025 Maturity 9/12/2031 Industry Business Services2025-09-300001504619us-gaap:FairValueInputsLevel3Member2024-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Archer Lewis, LLC - Unfunded Term Loan Acquisition 8/28/2024 Maturity 08/28/2026 Industry Healthcare Technology2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants NXOF Holdings, Inc. - Common Equity Acquisition 9/25/2018 Industry IT Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Schlesinger Global, Inc. - Unfunded Revolver Acquisition 10/24/2019 Maturity 03/31/2027 Industry Professional Services2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name DRS Holdings III, Inc. Acquisition 1/27/2021 Maturity 11/3/2025 Industry Consumer Goods: Durable Current Coupon 9.41% Basis Point Spread Above Index SOFR+5252024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Inventus Power, Inc. Acquisition 7/11/2023 Maturity 1/15/2026 Industry Consumer Goods: Durable Current Coupon 11.78% Basis Point Spread Above Index SOFR+7612024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Urology Partners Co., LP - Common Equity Acquisition 1/20/2023 Industry Healthcare Providers and Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt Beacon Behavioral Holdings, LLC Acquisition 6/21/2024 Maturity 06/21/2030 Industry Healthcare Providers and Services Current Coupon 15.00%2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants MDI Aggregator, LP - Common Equity Acquisition 7/19/2022 Industry Commodity Chemicals2025-12-310001504619First Lien Secured Debt Issuer Name Paving Lessor Corp. First Lien -Term Loan Acquisition 8/28/2025 Maturity 7/1/2031 Industry Business Services Current Coupon 9.25% Basis Point Spread Above Index SOFR+5252025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt LJ Avalon Holdings, LLC - Unfunded Revolver Acquisition 1/18/2023 Maturity 02/01/2029 Industry Construction & Engineering2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Walker Edison Furniture Company, LLC - Unfunded Term Loan Acquisition 8/29/2025 Maturity 03/01/2029 Industry Wholesale2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ACP Avenu Buyer, LLC Acquisition 10/2/2023 Maturity 10/02/2029 Industry IT Services Current Coupon 9.29% Basis Point Spread Above Index 3M SOFR+ 5002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Archer Lewis, LLC - Unfunded Revolver Acquisition 8/28/2024 Maturity 08/28/2029 Industry Healthcare Technology2024-10-012025-09-300001504619us-gaap:InvestmentAffiliatedIssuerControlledMember2025-09-300001504619pflt:PreferredEquityMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rosco Parent, LLC Acquisition 9/9/2025 Maturity 09/12/2031 Industry Business Services Current Coupon 8.42% Basis Point Spread Above Index 3M SOFR+ 4752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt NORA Acquisition, LLC - Unfunded Revolver Acquisitions 8/22/2023 Maturity 08/31/2029 Industry Healthcare Providers and Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Aphix Buyer, Inc. - Unfunded Term Loan Acquisition 7/17/2025 Maturity 07/16/2027 Industry Business Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Spendmend Holdings, LLC - Unfunded Revolver Acquisition 3/1/2022 Maturity 03/01/2028 Industry Healthcare Technology2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Azureon Holdings, LLC Acquisition 6/26/2024 Industry Diversified Consumer Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt By Light Professional IT Services, LLC - Unfunded Revolver Acquisition 7/15/2025 Maturity 7/15/2031 Industry High Tech Industries2025-03-310001504619First Lien Secured Debt Issuer Name Tyto Athene, LLC Acquisition 11/26/2025 Maturity 4/3/2028 Industry IT Services Current Coupon 8.88% Basis Point Spread Above Index SOFR+4902025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ro Health, LLC - Funded Revolver Acquisition 1/16/2025 Maturity 01/17/2031 Industry Healthcare Providers and Services Current Coupon 8.17% Basis Point Spread Above Index 3M SOFR+ 5002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Infolinks Media Buyco, LLC Acquisition 2/22/2024 Maturity 11/02/2026 Industry Media Current Coupon 9.50% Basis Point Spread Above Index 3M SOFR+ 5502024-10-012025-09-300001504619pflt:SeniorSecuritiesMember2018-04-062018-04-060001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt ORL Holdco, Inc. - Convertible Notes Acquisition 8/2/2024 Maturity 03/8/2028 Industry Consumer Finance Current Coupon 18.00%2024-10-012025-09-300001504619pflt:ClassA-1LoansMemberpflt:PennantParkCLO12LLCMember2025-04-012025-04-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants SSC Dominion Holdings, LLC - Common Equity - Class B (US Dominion, Inc.) Acquisition 11/4/2021 Industry Capital Equipment2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Omnia Exterior Solutions, LLC - Funded Revolver Acquisitions 12/29/2023 Maturity 12/31/2029 Industry Diversified Consumer Services Current Coupon 9.25% Basis Point Spread Above Index 1M SOFR+ 5252025-09-3000015046192024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Duggal Equity, LP - Common Equity Acquisition 9/30/2024 Industry Marketing Services2025-12-310001504619First Lien Secured Debt Issuer Name Lightspeed Buyer, Inc. Acquisition 1/27/2021 Maturity 02/03/2027 Industry Healthcare Providers and Services Current Coupon 8.42% Basis Point Spread Above Index SOFR+4752025-12-310001504619us-gaap:FairValueInputsLevel3Membersrt:MinimumMemberus-gaap:MeasurementInputEbitdaMultipleMemberpflt:ValuationTechniqueEnterpriseMarketValueMemberpflt:FirstLienMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants UniTek Global Services, Inc. - Common Equity Acquisition 1/13/2015 Industry Telecommunications2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Duggal Acquisition, LLC Acquisition 9/30/2024 Maturity 09/30/2030 Industry Marketing Services Current Coupon 8.75% Basis Point Spread Above Index 3M SOFR+ 4752025-09-300001504619us-gaap:FairValueInputsLevel3Memberpflt:SecondLienSubordinatedDebtAndEquityInvestmentsMember2024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Project Granite Buyer, Inc. Acquisition 12/31/2024 Maturity 12/31/2030 Industry Professional Services Current Coupon 9.75% Basis Point Spread Above Index 3M SOFR+ 5752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Inventus Power, Inc. Acquisition 6/29/2023 Maturity 01/15/2026 Industry Electronic Equipment, Instruments, and Components Current Coupon 11.78% Basis Point Spread Above Index 3M SOFR+ 7612024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Carisk Parent, LP - Common Equity Acquisition 11/27/2023 Industry Healthcare Technology2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Inventus Power, Inc. - Funded Revolver Acquisition 6/29/2023 Maturity 01/15/2026 Industry Electronic Equipment, Instruments, and Components Current Coupon 11.76% Basis Point Spread Above Index 3M SOFR+ 7612024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Aechelon InvestCo, LP - Unfunded Common Equity Acquisition 8/16/2024 Industry Aerospace and Defense2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Exigo Intermediate II, LLC Acquisition 08/27/2025 Maturity 03/15/2027 Industry Software Current Coupon 10.51% Basis Point Spread Above Index 1M SOFR+ 6352024-10-012025-09-300001504619us-gaap:FairValueInputsLevel3Memberpflt:ValuationTechniqueMarketComparableMemberpflt:MeasurementInputMarketYieldMembersrt:MaximumMemberpflt:FirstLienMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Second Lien Secured Debt Team Services Group, LLC - 2nd Lien Acquisition 2/23/2024 Maturity 12/18/2028 Industry Healthcare Providers and Services Current Coupon 13.10% Basis Point Spread Above Index 3M SOFR+ 9262025-10-012025-12-310001504619First Lien Secured Debt Issuer Name RTIC Subsidiary Holdings, LLC Acquisition 11/1/2024 Maturity 5/3/2029 Industry Leisure Products Current Coupon 9.75% Basis Point Spread Above Index SOFR+5752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt HW Holdco, LLC - Unfunded Revolver Acquisition 1/9/2019 Maturity 05/11/2026 Industry Media2024-10-012025-09-300001504619pflt:IncentiveFeePaymentConditionOneMembersrt:MaximumMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Graffiti Buyer, Inc. - Unfunded Term Loan Acquisition 08/09/2021 Maturity 08/10/2027 Industry Trading Companies & Distributors2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Lightspeed Buyer, Inc. - Unfunded Revolver Acquisition 1/21/2020 Maturity 02/03/2027 Industry Healthcare Technology2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt StoicLane, Inc. - Convertible Notes Acquisition 8/15/2024 Maturity 08/16/2027 Industry Healthcare Technology Current Coupon 12.00%2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants OSP Embedded Aggregator, LP - Common Equity Acquisition 12/11/2023 Industry Aerospace and Defense2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Azureon, LLC (F/K/A Tpcn Midco, LLC) - Unfunded Revolver Acquisition 6/26/2024 Maturity 06/26/2029 Industry Diversified Consumer Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Express Wash Acquisition Company, LLC - Unfunded Revolver Acquisition 4/10/2025 Maturity 4/10/2031 Industry Automobiles2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Alpine Acquisition Corp II Acquisition 8/27/2025 Maturity 08/09/2025 Industry Containers and Packaging2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Pink Lilly Holdco, LLC - Unfunded Revolver Acquisition 11/5/2021 Maturity 11/09/2027 Industry Textiles, Apparel and Luxury Goods2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Best Practice Associates, LLC Acquisition 4/10/2025 Maturity 11/8/2029 Industry Aerospace and Defense Current Coupon 10.91% Basis Point Spread Above Index SOFR+6752025-09-300001504619First Lien Secured Debt Issuer Name Seaway Buyer, LLC Acquisition 4/11/2023 Maturity 6/13/2029 Industry Chemicals, Plastics and Rubber Current Coupon 10.15% Basis Point Spread Above Index SOFR+6152024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Loving Tan Intermediate II, Inc. - Unfunded Term Loan Acquisition 5/24/2023 Maturity 12/31/2026 Industry Personal Products2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Quad (U.S.) Co-Invest, LP - Common Equity Acquisition 3/28/2025 Industry Professional Services2025-12-310001504619First Lien Secured Debt Issuer Name TCG 3.0 Jogger Acquisitionco, Inc. Acquisition 4/26/2024 Maturity 01/23/2029 Industry Media Current Coupon 10.17% Basis Point Spread Above Index SOFR+6502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt By Light Professional IT Services, LLC - Unfunded Revolver Acquisition 7/15/2025 Maturity 7/15/2031 Industry High Tech Industries2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Output Services Group, Inc. - Common Equity Acquisition 11/30/2023 Industry Business Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Lightspeed Buyer, Inc. - Unfunded Revolver Acquisition 1/21/2020 Maturity 02/03/2027 Industry Healthcare Technology2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Seacoast Service Partners NA, LLC - Unfunded Revolver Acquisition 12/20/2024 Maturity 12/20/2029 Industry Diversified Consumer Services2025-10-012025-12-310001504619us-gaap:FairValueInputsLevel3Memberus-gaap:SubordinatedDebtMemberus-gaap:MeasurementInputEbitdaMultipleMemberpflt:ValuationTechniqueEnterpriseMarketValueMember2025-12-310001504619First Lien Secured Debt Issuer Name Halo Buyer, Inc. Acquisition 5/22/2025 Maturity 08/07/2029 Industry Consumer Products Current Coupon 9.72% Basis Point Spread Above Index SOFR+6002025-10-012025-12-310001504619First Lien Secured Debt Issuer Name GGG MIDCO, LLC Acquisition 4/10/2025 Maturity 09/27/2030 Industry Diversified Consumer Services Current Coupon 8.67% Basis Point Spread Above Index SOFR+5002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TMII Enterprises, LLC Acquisition 12/19/2022 Maturity 12/22/2028 Industry Commercial Services & Supplies Current Coupon 8.22% Basis Point Spread Above Index 3M SOFR+ 4502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Anteriad, LLC (f/k/a MeritDirect, LLC) - Incremental Term Loan Acquisition 5/21/2019 Maturity 06/30/2026 Industry Media Current Coupon 9.90% Basis Point Spread Above Index 3M SOFR+ 5902024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Medina Health, LLC Acquisition 10/16/2023 Maturity 10/20/2028 Industry Healthcare Providers and Services Current Coupon 10.31% Basis Point Spread Above Index 3M SOFR+ 6252024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Smile Brands, Inc. Acquisition 10/4/2018 Maturity 10/12/2027 Industry Healthcare and Pharmaceuticals Current Coupon 9.77% (PIK 1.50%) Basis Point Spread Above Index 1M SOFR+ 6102025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Harris & Co. LLC Acquisition 8/9/2024 Maturity 8/9/2030 Industry Professional Services Current Coupon 8.72% Basis Point Spread Above Index 3M SOFR+ 5002025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Meadowlark Acquirer, LLC Acquisition 1/29/2022 Maturity 12/10/2027 Industry Professional Services Current Coupon 9.65% Basis Point Spread Above Index SOFR+5652025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MDI Buyer, Inc. - Unfunded Revolver Acquisition 7/19/2022 Maturity 07/25/2028 Industry Commodity Chemicals2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt The Vertex Companies, LLC - Funded Revolver Acquisition 8/25/2021 Maturity 08/31/2028 Industry Construction & Engineering Current Coupon 8.82% Basis Point Spread Above Index 1M SOFR+ 5102025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Pink Lilly Holdco, LLC Acquisition 11/5/2021 Maturity 11/09/2027 Industry Textiles, Apparel and Luxury Goods2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Keel Platform, LLC Acquisition 1/26/2024 Maturity 01/20/2031 Industry Metals and Mining Current Coupon 8.42% Basis Point Spread Above Index 3M SOFR+ 4752025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Crane 1 Services, Inc. Acquisition 4/11/2023 Maturity 8/16/2027 Industry Commercial Services & Supplies Current Coupon 10.03% Basis Point Spread Above Index SOFR+5862024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Azureon Holdings, LLC Acquisition 6/26/2024 Industry Diversified Consumer Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants QuantiTech InvestCo II, LP - Common Equity Acquisition 5/1/2020 Industry Aerospace and Defense2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Harris & Co, LLC Acquisition 11/26/2024 Maturity 8/9/2030 Industry Professional Services Current Coupon 9.16% Basis Point Spread Above Index SOFR+5002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sigma Defense Systems, LLC - Unfunded Revolver Acquisition 11/30/2021 Maturity 12/20/2027 Industry IT Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants UniVista Insurance - Common Equity Acquisition 10/29/2024 Industry Insurance2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Podean Intermediate II, LLC - Preferred Equity Acquisition 8/4/2025 Industry Marketing Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Loving Tan Intermediate II, Inc. - Unfunded Term Loan - 2nd Amendment Acquisition 5/24/2023 Maturity 12/31/2026 Industry Personal Products One2025-12-310001504619pflt:TwoThousandAndThirtySixAssetBackedDebtMemberpflt:ClassA2SeniorSecuredFixedRateNotesDue2036Memberpflt:SecuredOvernightFinancingRateMember2024-02-290001504619First Lien Secured Debt Issuer Name Hills Distribution, Inc. Acquisition 5/3/2024 Maturity 11/8/2029 Industry Business Services Current Coupon 10.32% Basis Point Spread Above Index SOFR+6002024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Walker Edison Furniture Company, LLC - New Money DIP Acquisition 8/29/2025 Maturity 03/01/2029 Industry Wholesale Current Coupon 10.00%2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Seacoast Service Partners, LLC - Common Equity Acquisition 12/20/2024 Industry Diversified Consumer Services2025-09-300001504619pflt:AtTheMarketOfferingMember2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Aphix Buyer, Inc. - Unfunded Term Loan Acquisition 7/17/2025 Maturity 07/16/2027 Industry Business Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt ORL Holdco, Inc. - Unfunded Convertible Notes Acquisition 8/2/2024 Maturity 03/08/2028 Industry Consumer Finance2024-10-012024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Blue Cloud Pediatric Surgery Centers LLC Acquisition 8/12/2025 Maturity 01/21/2031 Industry Healthcare Providers and Services Current Coupon 9.48% Basis Point Spread Above Index 3M SOFR+ 5252024-10-012025-09-300001504619us-gaap:FairValueInputsLevel3Memberpflt:TwoThousandTwentySixNotesPayableMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt North American Rail Solutions, LLC Acquisitions 8/29/2025 Maturity 08/29/2031 Industry Manufacturing/Basic Industry Current Coupon 8.75% Basis Point Spread Above Index 3M SOFR+ 4752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Infinity Home Services Holdco, Inc. Acquisition 12/21/2022 Maturity 12/28/2028 Industry Commercial Services & Supplies Current Coupon 9.17% Basis Point Spread Above Index 3M SOFR+ 5502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Tower Arch Infolinks Media, LP - Common Equity Acquisition 10/27/2021 Industry Media2025-09-300001504619First Lien Secured Debt Issuer Name Carisk Buyer, Inc. Acquisition 11/21/2025 Maturity 12/3/2029 Industry Healthcare Technology Current Coupon 8.67% Basis Point Spread Above Index SOFR+5002025-12-310001504619First Lien Secured Debt Issuer Name LAV Gear Holdings, Inc. - Takeback TL Acquisition 7/31/2025 Maturity 7/31/2029 Industry Capital Equipment Current Coupon 10.10% Basis Point Spread Above Index SOFR+5942024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Walker Edison Furniture Company, LLC - Unfunded Term Loan Acquisition 8/29/2025 Maturity 03/01/2029 Industry Wholesale2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Help/Systems Holdings, Inc. Acquisition 8/27/2025 Maturity 11/30/2026 Industry Software Current Coupon 8.41% Basis Point Spread Above Index 3M SOFR+ 4102025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Commercial Fire Protection Holdings, LLC Acquisition 9/23/2024 Maturity 9/23/2030 Industry Commercial Services & Supplies Current Coupon 8.22% Basis Point Spread Above Index 3M SOFR+ 4502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sigma Defense Systems, LLC - Funded Revolver Acquisition 11/30/2021 Maturity 12/20/2027 Industry IT Services Current Coupon 10.90% Basis Point Spread Above Index 3M SOFR+ 6902024-10-012025-09-300001504619us-gaap:FairValueInputsLevel3Memberpflt:FirstLienMember2024-09-300001504619pflt:EquityInterestsInPSSLIIMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Blue Cloud Pediatric Surgery Centers LLC Acquisition 8/12/2025 Maturity 1/21/2031 Industry Healthcare Providers and Services Current Coupon 8.72% Basis Point Spread Above Index 3M SOFR+ 5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Safe Haven Defense Holdco, LLC - Common Equity Acquisition 1/16/2025 Industry Building Products2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name PN Buyer, Inc. Acquisition 9/8/2025 Maturity 07/31/2031 Industry Professional Services Current Coupon 8.17% Basis Point Spread Above Index SOFR+4502025-12-310001504619pflt:PennantParkSeniorSecuredLoanFundILLCMember2024-10-012024-12-310001504619pflt:ClassDSecuredDeferrableFloatingRateLoansDue2036Memberpflt:TwoThousandAndThirtySixAssetBackedDebtMember2024-02-290001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sath Industries, LLC Acquisition 12/17/2024 Maturity 12/17/2029 Industry Event Services Current Coupon 9.19% Basis Point Spread Above Index 3M SOFR+ 5502025-12-310001504619pflt:PennantParkSeniorSecuredLoanFundTwoLLCMember2025-10-012025-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:ValuationTechniqueMarketComparableMemberus-gaap:MeasurementInputRevenueMultipleMemberpflt:FirstLienMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Aechelon InvestCo, LP - Unfunded Common Equity Acquisition 8/16/2024 Industry Aerospace and Defense2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt First Medical MSO, LLC Acquisition 6/13/2025 Maturity 6/13/2031 Industry Healthcare Providers and Services Current Coupon 9.43% Basis Point Spread Above Index 3M SOFR+ 5752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Municipal Emergency Services, Inc. - Common Equity Acquisition 9/28/2021 Industry Distributors2024-10-012025-09-300001504619pflt:MediaDiversifiedAndProductionMember2025-12-310001504619First Lien Secured Debt Issuer Name Safe Haven Defense US, LLC Acquisition 9/19/2024 Maturity 5/23/2029 Industry Construction and Building Current Coupon 9.50% Basis Point Spread Above Index SOFR+5502024-10-012025-09-300001504619Investments in Controlled, Affiliated Portfolio Companies Equity Interests PennantPark Senior Secured Loan Fund I LLC - Common Equity Acquisition 6/16/2017 Industry Financial Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Seacoast Service Partners NA, LLC - Funded Revolver Acquisition 12/20/2024 Maturity 12/20/2029 Industry Diversified Consumer Services Current Coupon 8.92% Basis Point Spread Above Index 3M SOFR+ 5002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Gauge Schlesinger Coinvest, LLC - Preferred Equity Acquisition 4/22/2020 Industry Professional Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity ORL Holdco, Inc. - Preferred Equity Acquisition 9/1/2021 Industry Consumer Finance2024-10-012025-09-300001504619pflt:TwoThousandAndTwentySixNotesTwoMember2024-10-012025-06-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity UniTek Global Services, Inc. - Super Senior Preferred Equity Acquisition 1/13/2015 Industry Telecommunications Current Coupon 20.00%2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Seacoast Service Partners NA, LLC - Unfunded Term Loan Acquisition 12/20/2024 Maturity 12/21/2026 Industry Diversified Consumer Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sigma Defense Systems, LLC Acquisition 11/30/2021 Maturity 12/20/2027 Industry IT Services Current Coupon 10.15% Basis Point Spread Above Index 3M SOFR+ 6152025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt North American Rail Solutions, LLC - Funded Revolver Acquisition 8/29/2025 Maturity 08/29/2031 Industry Manufacturing/Basic Industry Current Coupon 8.47% Basis Point Spread Above Index 3M SOFR+ 4752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Big Top Holdings, LLC Acquisition 2/29/2024 Maturity 03/01/2030 Industry Construction & Engineering Current Coupon 8.92% Basis Point Spread Above Index 3M SOFR+ 5252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Blue Cloud Pediatric Surgery Centers LLC - Unfunded Term Loan Acquisition 8/12/2025 Maturity 07/30/2027 Industry Healthcare Providers and Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Halo Buyer, Inc. Acquisition 02/07/2025 Maturity 08/07/2029 Industry Consumer products Current Coupon 10.16% Basis Point Spread Above Index 1M SOFR+ 6002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carnegie Dartlet, LLC - Unfunded Revolver Acquisition 2/7/2024 Maturity 2/7/2030 Industry Professional Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants NEPRT Parent Holdings, LLC - Common Equity Acquisition 1/27/2021 Industry Leisure Products2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ETE Intermediate II, LLC - Unfunded Revolver Acquisition 05/24/2023 Maturity 05/25/2029 Industry Diversified Consumer Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Argano, LLC – Unfunded Revolver Acquisition 9/13/2024 Maturity 09/13/2029 Industry Business Services2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name LJ Avalon Holdings, LLC Acquisition 4/11/2023 Maturity 2/1/2030 Industry Environmental Industries Current Coupon 8.77% Basis Point Spread Above Index SOFR+4502025-09-300001504619pflt:TwoThousandAndThirtyOneAssetBackedDebtMember2024-07-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants New Insight Holdings, Inc. Acquisition 7/15/2024 Industry Business Services2025-09-300001504619pflt:MediaMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt OSP Embedded Purchaser, LLC Acquisition 12/11/2023 Maturity 12/17/2029 Industry Aerospace and Defense Current Coupon 9.47% Basis Point Spread Above Index 3M SOFR+ 5752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Global Holdings InterCo, LLC Acquisition 3/11/2021 Maturity 3/16/2026 Industry Diversified Financial Services Current Coupon 9.33% Basis Point Spread Above Index 1M SOFR+ 5602025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt RTIC Subsidiary Holdings, LLC - Unfunded Revolver Acquisition 5/3/2024 Maturity 05/03/2029 Industry Leisure Products2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants TPC Holding Company, LP - Common Equity Acquisition 12/4/2019 Industry Food Products2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Altamira Parent Holdings, LLC - Common Equity Acquisition 7/23/2019 Industry IT Services2024-10-012025-09-300001504619pflt:PennantParkCLOVILLCMember2023-04-012023-04-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants TCG 3.0 Jogger Co-Invest, LP - Common Equity Acquisition 12/6/2023 Industry Media2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Loving Tan Intermediate II, Inc. - Unfunded Term Loan Acquisition 5/24/2023 Maturity 12/31/2026 Industry Personal Products2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity RTIC Parent Holdings, LLC - Preferred Equity - Class D Acquisition 5/3/2024 Industry Leisure Products2025-09-300001504619First Lien Secured Debt Issuer Name Ad.net Acquisition, LLC Acquisition 5/24/2021 Maturity 5/7/2026 Industry Media Current Coupon 10.26% Basis Point Spread Above Index SOFR+6262025-09-300001504619First Lien Secured Debt Issuer Name STG Distribution, LLC - First Out New Money Term Loans Acquisition 10/24/2024 Maturity 10/03/2029 Industry Air Freight and Logistics2025-12-310001504619First Lien Secured Debt Issuer Name Capital Construction, LLC Acquisition 8/28/2025 Maturity 10/22/2026 Industry Consumer Services Current Coupon 9.89% Basis Point Spread Above Index SOFR+5902024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sabel Systems Technology Solutions, LLC Acquisition 10/31/2024 Maturity 10/31/2030 Industry Government Services Current Coupon 9.72% Basis Point Spread Above Index 3M SOFR+ 6002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Marketplace Events Acquisition, LLC - Funded Revolver Acquisition 12/19/2024 Maturity 12/19/2030 Industry Media Current Coupon 8.99% Basis Point Spread Above Index 3M SOFR+ 5252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity EvAL Home Health Solutions, LLC Acquisition 5/10/2024 Industry Healthcare, Education and Childcare2025-12-310001504619First Lien Secured Debt Issuer Name Tyto Athene, LLC Acquisition 11/26/2025 Maturity 4/3/2028 Industry IT Services Current Coupon 8.88% Basis Point Spread Above Index SOFR+4902025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Loving Tan Intermediate II, Inc. Acquisition 5/24/2023 Maturity 05/31/2028 Industry Personal Products Current Coupon 8.67% Basis Point Spread Above Index 3M SOFR+ 5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Urology Management Holdings, Inc. Acquisition 9/3/2024 Maturity 06/15/2027 Industry Healthcare Providers and Services Current Coupon 9.66% Basis Point Spread Above Index 1M SOFR+ 5502024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt The Bluebird Group, LLC - Unfunded Revolver Acquisition 7/22/2021 Maturity Date 07/28/2026 Industry Professional Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Blackhawk Industrial Distribution, Inc. - Funded Revolver Acquisition 6/27/2022 Maturity 9/17/2026 Industry Distributors Current Coupon 9.07% Basis Point Spread Above Index 3M SOFR+ 5402025-03-310001504619First Lien Secured Debt Issuer Name Wash & Wax Systems LLC Acquisition 4/30/2025 Maturity 04/30/2028 Industry Automobiles Current Coupon 9.34% Basis Point Spread Above Index SOFR+5502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity AFC Acquisitions, Inc. Preferred Equity - Series G-2 Acquisition 12/7/2023 Industry Distributors2025-09-300001504619pflt:TruistCreditFacilityMembersrt:MaximumMember2025-11-012025-11-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Argano, LLC - Unfunded Term Loan Acquisition 9/13/2024 Maturity 10/02/2026 Industry Business Services2025-09-300001504619us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Carisk Buyer, Inc. Acquisition 10/16/2024 Maturity 12/3/2029 Industry Healthcare Technology Current Coupon 9.00% Basis Point Spread Above Index SOFR+5002025-09-300001504619pflt:SecondLienMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2025-09-300001504619pflt:TotalInvestmentsMembercountry:US2025-12-310001504619First Lien Secured Debt Issuer Name Pragmatic Institute, LLC Acquisition 3/28/2025 Maturity 3/28/2030 Industry Education Current Coupon 9.50% Basis Point Spread Above Index SOFR+5502024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Alpine Acquisition Corp II Acquisition 8/27/2025 Maturity 08/09/2025 Industry Containers and Packaging2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants SP DXE Holdings, LLC - Common Equity Acquisition 12/20/2024 Industry Electronic Equipment, Instruments, and Components2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants QuantiTech InvestCo, LP - Unfunded Common Equity Acquisition 5/1/2020 Industry Aerospace and Defense2024-10-012025-09-300001504619pflt:ProfessionalServicesMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ad.net Acquisition, LLC Acquisition 5/4/2021 Maturity 05/07/2026 Industry Media Current Coupon 9.93% Basis Point Spread Above Index 3M SOFR+ 6262025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt RTIC Subsidiary Holdings, LLC - Funded Revolver Acquisition 5/3/2024 Maturity 5/3/2029 Industry Leisure Products Current Coupon 9.75% Basis Point Spread Above Index 3M SOFR+ 5752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Meadowlark Title, LLC - Common Equity Acquisition 12/9/2021 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Magnolia Topco, LP - Preferred Equity - Class A-1 Acquisition 7/25/2023 Industry Automobiles2025-12-310001504619pflt:AirFreightAndLogisticsMember2025-12-310001504619First Lien Secured Debt Issuer Name OSP Embedded Purchaser, LLC Acquisition 11/19/2024 Maturity 12/17/2029 Industry Aerospace and Defense Current Coupon 9.42% Basis Point Spread Above Index SOFR+5752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Wash & Wax Systems, LLC Acquisition 4/30/2025 Maturity 04/30/2028 Industry Consumer Services Current Coupon 9.81% Basis Point Spread Above Index 3M SOFR+ 5502024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt ORL Holdco, Inc. - Convertible Notes Acquisition 8/2/2024 Maturity 03/08/2028 Industry Consumer Finance Current Coupon 18.00%2024-10-012024-12-310001504619First Lien Secured Debt Issuer Name Emergency Care Partners, LLC Acquisition 11/20/2025 Maturity 10/18/2027 Industry Healthcare Providers & Services Current Coupon 8.67% Basis Point Spread Above Index SOFR+5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Medina Health, LLC Acquisition 10/16/2023 Maturity 10/20/2028 Industry Healthcare Providers and Services Current Coupon 9.95% Basis Point Spread Above Index 3M SOFR+ 6252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt DX Electric Company, LLC - Unfunded Revolver Acquisition 10/1/2025 Maturity 10/1/2031 Industry Electronic Equipment, Instruments, and Components2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Exigo, LLC - Common Equity Acquisition 3/10/2022 Industry Software2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants WCP Ivyrehab Coinvestment, LP - Common Equity - Incremental Acquisition 6/27/2022 Industry Healthcare Providers and Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Case Works, LLC Acquisition 4/10/2025 Maturity 10/1/2029 Industry Professional Services Current Coupon 8.92% Basis Point Spread Above Index SOFR+5252025-12-310001504619First Lien Secured Debt Issuer Name PCS MIDCO, Inc. Acquisition 11/25/2025 Maturity 3/1/2030 Industry Professional Services Current Coupon 9.42% Basis Point Spread Above Index SOFR+5752025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Duggal Acquisition, LLC Acquisition 4/10/2025 Maturity 9/30/2030 Industry Marketing Services Current Coupon 8.75% Basis Point Spread Above Index SOFR+4752025-09-300001504619First Lien Secured Debt Issuer Name Project Granite Buyer, Inc. Acquisition 11/18/2025 Maturity 12/31/2030 Industry Professional Services Current Coupon 9.42% Basis Point Spread Above Index SOFR+5752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MDI Buyer, Inc. - Funded Revolver Acquisition 7/19/2022 Maturity 07/25/2028 Industry Commodity Chemicals Current Coupon 11.50% Basis Point Spread Above Index 3M SOFR+ 4002025-10-012025-12-310001504619Equity Securities Issuer Name White Tiger Newco, LLC - Common Equity Acquisition 7/31/2025 Industry Automobiles2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt OSP Embedded Purchaser, LLC - Unfunded Revolver Acquisition 12/11/2023 Maturity 12/17/2029 Industry Aerospace and Defense2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Megawatt Acquisition Partners, LLC - Common Equity - Class A Acquisition 6/28/2024 Industry Electronic Equipment, Instruments, and Components2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Lucky Bucks, LLC - First-Out Term Loan Acquisition 11/02/2023 Maturity 10/02/2028 Industry Hotels, Restaurants and Leisure Current Coupon 12.01% Basis Point Spread Above Index 1M SOFR+ 7652025-09-300001504619pflt:TwoThousandThirtyOneAssetBackedDebtMember2024-07-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Commercial Fire Protection Holdings, LLC - Unfunded Term Loan Acquisition 9/23/2024 Maturity 9/23/2026 Industry Commercial Services & Supplies2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt One Stop Mailing, LLC Acquisition 5/26/2021 Maturity 05/07/2027 Industry Air Freight and Logistics Current Coupon 10.08% Basis Point Spread Above Index 3M SOFR+ 6362025-12-310001504619us-gaap:EquityMethodInvestmentsMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2025-12-310001504619First Lien Secured Debt Issuer Name Rosco Parent, LLC Acquisition 9/9/2025 Maturity 08/29/2031 Industry Business Services Current Coupon 8.42% Basis Point Spread Above Index SOFR+4752025-10-012025-12-3100015046192024-05-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Anteriad Holdings, LP (f/k/a MeritDirect Holdings, LP) - Preferred Equity Acquisition 5/21/2019 Industry Media2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rancho Health MSO, Inc. Acquisition 12/20/2024 Maturity 06/20/2029 Industry Healthcare Equipment and Supplies Current Coupon 8.69% Basis Point Spread Above Index 3M SOFR+ 5002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity NXOF Holdings, Inc. - Preferred Equity Acquisition 9/25/2018 Industry IT Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Loving Tan Intermediate II, Inc. Acquisition 5/24/2023 Maturity 05/31/2028 Industry Personal Products Current Coupon 9.00% Basis Point Spread Above Index 3M SOFR+ 5002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Ad.Net Holdings, Inc. - Common Equity Acquisition 5/4/2021 Industry Media2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Puget Collision, LLC - Unfunded Term Loan Acquisition 10/3/2025 Maturity 10/03/2027 Industry Automobiles2025-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:ValuationTechniqueMarketComparableMembersrt:MinimumMemberus-gaap:MeasurementInputEbitdaMultipleMemberpflt:FirstLienMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants UniVista Insurance - Common Equity Acquisition 6/14/2021 Industry Insurance2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Rancho Health MSO, Inc. Acquisition 4/11/2023 Maturity 06/20/2029 Industry Healthcare Providers and Services Current Coupon 8.99% Basis Point Spread Above Index SOFR+5002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Halo Buyer, Inc. Acquisition 2/7/2025 Maturity 8/7/2029 Industry Consumer products Current Coupon 9.72% Basis Point Spread Above Index 1M SOFR+ 6002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants OceanSound Discovery Equity, LP - Common Equity Acquisition 3/28/2024 Industry Aerospace and Defense2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Gauge Schlesinger Coinvest, LLC - Common Equity Acquisition 4/22/2020 Industry Professional Services2024-10-012025-09-300001504619us-gaap:FairValueInputsLevel1Memberpflt:SecondLienMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt By Light Professional IT Services, LLC Acquisition 7/15/2025 Maturity 7/15/2031 Industry High Tech Industries Current Coupon 9.22% Basis Point Spread Above Index 1M SOFR+ 5502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Imagine Acquisitionco, Inc. - Unfunded Revolver Acquisition 11/4/2021 Maturity 11/16/2027 Industry Software2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants SP L2 Holdings, LLC - Common Equity Acquisition 6/8/2022 Industry Leisure Products2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Podean Buyer, LLC Acquisition 8/4/2025 Maturity 08/04/2031 Industry Marketing Services Current Coupon 9.66% Basis Point Spread Above Index 3M SOFR+ 6002025-10-012025-12-310001504619pflt:GamingMember2025-09-300001504619pflt:TwoThousandAndThirtyOneAssetBackedDebtMemberpflt:ClassB2SeniorSecuredFixedRateNotesDue2031Member2019-09-012019-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants WCP Ivyrehab Coinvestment, LP - Common Equity - Incremental Acquisition 4/30/2025 Industry Healthcare Providers and Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carisk Buyer, Inc. Acquisition 11/27/2023 Maturity 12/3/2029 Industry Healthcare Technology Current Coupon 8.67% Basis Point Spread Above Index 3M SOFR+ 5002025-03-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Marketplace Events Acquisition, LLC - Unfunded Revolver Acquisition 12/19/2024 Maturity 12/19/2030 Industry Media2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Impact Advisors, LLC Acquisition 3/21/2025 Maturity 03/19/2032 Industry Business Services Current Coupon 8.50% Basis Point Spread Above Index 3M SOFR+ 4502025-09-300001504619us-gaap:FairValueInputsLevel3Memberpflt:SecondLienSubordinatedDebtAndEquityInvestmentsMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Anteriad, LLC (f/k/a MeritDirect, LLC) - Unfunded Revolver Acquisition 5/21/2019 Maturity 06/30/2026 Industry Media2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Spendmend Holdings, LLC - Unfunded Revolver Acquisition 3/1/2022 Maturity 03/01/2028 Industry Healthcare Technology2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Best Practice Associates, LLC Acquisition 11/7/2024 Maturity 11/08/2029 Industry Aerospace and Defense Current Coupon 10.91% Basis Point Spread Above Index 3M SOFR+ 6752025-09-300001504619First Lien Secured Debt Issuer Name Watchtower Buyer, LLC Acquisition 4/20/2029 Maturity 2/3/2029 Industry Diversified Consumer Services Current Coupon 9.67% Basis Point Spread Above Index SOFR+5002025-12-310001504619pflt:ConstructionAndEngineeringMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Crane 1 Acquisition Parent Holdings, LP - Common Equity Acquisition 8/11/2021 Industry Commercial Services & Supplies2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants ITC Infusion Co-invest, LP - Common Equity Acquisition 2/16/2022 Industry Healthcare Equipment and Supplies2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Lightspeed Buyer, Inc. Acquisition 1/21/2020 Maturity 02/03/2027 Industry Healthcare Technology Current Coupon 8.42% Basis Point Spread Above Index 3M SOFR+ 4752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt GGG Midco, LLC - Unfunded Term Loan Acquisition 09/27/2024 Maturity 09/27/2026 Industry Diversified Consumer Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Meadowlark Acquirer, LLC Acquisition 12/9/2021 Maturity 12/10/2027 Industry Professional Services Current Coupon 9.65% Basis Point Spread Above Index 3M SOFR+ 5652024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MAG DS Corp. Acquisition 9/21/2020 Maturity 04/01/2027 Industry Aerospace and Defense Current Coupon 9.27% Basis Point Spread Above Index 3M SOFR+ 5602025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Arcfield Acquisition Corp. Acquisition 10/28/2024 Maturity 10/28/2031 Industry Aerospace and Defense Current Coupon 8.84% Basis Point Spread Above Index 3M SOFR+ 5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt By Light Professional IT Services, LLC - Unfunded Revolver Acquisition 7/15/2025 Maturity 07/15/2031 Industry High Tech Industries2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Watchtower Buyer, LLC Acquisition 4/20/2029 Maturity 2/3/2029 Industry Diversified Consumer Services Current Coupon 9.67% Basis Point Spread Above Index SOFR+5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ledge Lounger, Inc. - Funded Revolver Acquisition 2/7/2022 Maturity 11/09/2026 Industry Leisure Products Current Coupon 11.32% (PIK 1.00%) Basis Point Spread Above Index 3M SOFR+ 7652025-12-310001504619First Lien Secured Debt Issuer Name Pacific Purchaser, LLC Acquisition 1/12/2024 Maturity 10/2/2028 Industry Business Services Current Coupon 10.42% Basis Point Spread Above Index SOFR+6252024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Crane 1 Acquisition Parent Holdings, LP - Common Equity Acquisition 8/11/2021 Industry Commercial Services & Supplies2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MES Intermediate, Inc. Acquisition 9/23/2021 Maturity 10/01/2027 Industry Distributors Current Coupon 8.42% Basis Point Spread Above Index 3M SOFR+ 4752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity UniTek Global Services, Inc. - Super Senior Preferred Equity Acquisition 1/13/2015 Industry Telecommunications Current Coupon 20.00%2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Exigo Intermediate II, LLC Acquisition 8/27/2025 Maturity 3/15/2027 Industry Software Current Coupon 10.12% Basis Point Spread Above Index 1M SOFR+ 6352025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Riverpoint Medical, LLC Acquisition 6/19/2019 Maturity 06/21/2027 Industry Healthcare Equipment and Supplies Current Coupon 8.17% Basis Point Spread Above Index 3M SOFR+ 4502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt Schlesinger Global, LLC - Promissory Note Acquisition 2/21/2024 Maturity 01/8/2026 Industry Professional Services Current Coupon 12.76% Basis Point Spread Above Index 3M SOFR+8602025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Kinetic Purchaser, LLC - Common Equity - Class AA Acquisition 11/8/2021 Industry Personal Products2025-09-300001504619First Lien Secured Debt Issuer Name Penta Group Holdings, Inc. Acquisition 9/8/2025 Maturity 7/31/2031 Industry Professional Services Current Coupon 8.81% Basis Point Spread Above Index SOFR+4502024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Tower Arch Infolinks Media, LP - Unfunded Common Equity Acquisition 10/27/2021 Industry Media2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Infinity Home Services Holdco, Inc. - Unfunded Revolver Acquisition 12/21/2022 Maturity 12/28/2028 Industry Commercial Services & Supplies2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Smile Brands, Inc. Acquisition 10/4/2018 Maturity 10/12/2027 Industry Healthcare and Pharmaceuticals Current Coupon 10.43% (PIK 1.50%) Basis Point Spread Above Index 1M SOFR+ 6102024-10-012025-09-300001504619pflt:TwoThousandThirtySevenAssetBackedDebtMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2025-12-310001504619us-gaap:FairValueInputsLevel2Memberus-gaap:EquityMethodInvestmentsMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt The Vertex Companies, LLC - Unfunded Revolver Acquisition 8/25/2021 Maturity 08/31/2028 Industry Construction & Engineering2025-12-310001504619pflt:JPMorganUSDollarLiquidityInstMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt APT OPCO, LLC Acquisition 9/29/2025 Maturity 09/30/2031 Industry Healthcare Providers and Services Current Coupon 9.00% Basis Point Spread Above Index 3M SOFR+ 5002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Paving Parent, LLC - Common Equity Acquisition 7/1/2025 Industry Business Services2025-12-310001504619Subordinate Debt Issuer Name Integrative Nutrition, LLC Acquisition 4/17/2025 Maturity 4/15/2030 Industry Diversified Consumer Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Paving Parent, LLC - Common Equity Acquisition 7/1/2025 Industry Business Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants SP L2 Holdings, LLC - Common Equity Acquisition 6/8/2022 Industry Leisure Products2025-12-310001504619pflt:AtTheMarketOfferingMember2024-07-310001504619First Lien Secured Debt Issuer Name TCG 3.0 Jogger Acquisitionco, Inc. Acquisition 4/26/2024 Maturity 1/23/2029 Industry Media Current Coupon 10.52% Basis Point Spread Above Index SOFR+6502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants FedHC InvestCo, LP - Common Equity Acquisition 8/26/2021 Industry Aerospace and Defense2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt C5MI Acquisition, LLC - Funded Revolver Acquisition 7/31/2024 Maturity 7/31/2029 Industry IT Services Current Coupon 9.67% Basis Point Spread Above Index 3M SOFR+ 6002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Kinetic Purchaser, LLC - Funded Revolver Acquisition 11/8/2021 Maturity 11/10/2026 Industry Personal Products Current Coupon 9.82% Basis Point Spread Above Index 3M SOFR+ 6152025-10-012025-12-310001504619First Lien Secured Debt Issuer Name AFC-Dell Holding Corp. Acquisition 12/23/2024 Maturity 4/9/2027 Industry Distributors Current Coupon 8.84% Basis Point Spread Above Index SOFR+5502025-10-012025-12-310001504619pflt:TwoThousandThirtySevenAsset-BackedDebtMemberpflt:PennantParkSeniorSecuredLoanFundILLCMember2025-09-300001504619First Lien Secured Debt Issuer Name ACP Avenu Buyer, LLC Acquisition 10/6/2023 Maturity 10/2/2029 Industry Business Services Current Coupon 8.74% Basis Point Spread Above Index SOFR+4752025-10-012025-12-310001504619pflt:TwoThousandThirtySixRAssetBackedDebtMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Blackhawk Industrial Distribution, Inc. - Funded Revolver Acquisition 6/27/2022 Maturity 9/17/2026 Industry Distributors Current Coupon 9.07% Basis Point Spread Above Index 3M SOFR+ 5402025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Altamira Parent Holdings, LLC - Common Equity Acquisition 7/23/2019 Industry IT Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PD Tri-State Holdco, LLC - Unfunded Term Loan Acquisition 10/14/2025 Maturity 10/14/2027 Industry Diversified Consumer Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cartessa Aesthetics, LLC Acquisition 6/1/2022 Maturity 06/14/2028 Industry Distributors Current Coupon 10.00% Basis Point Spread Above Index 3M SOFR+ 6002025-09-300001504619pflt:PSSLSubsidiaryIIMembersrt:MaximumMember2025-09-300001504619us-gaap:SubordinatedDebtMember2025-09-300001504619First Lien Secured Debt Issuer Name Inovex Information Systems Incorporated Acquisition 3/3/2025 Maturity 12/17/2030 Industry Software Current Coupon 9.25% Basis Point Spread Above Index SOFR+5252025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Harris & Co. LLC Acquisition 08/09/2024 Maturity 08/09/2030 Industry Professional Services Current Coupon 9.16% Basis Point Spread Above Index 3M SOFR+ 5002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Beta Plus Technologies, Inc. Acquisition 2/29/2024 Maturity 07/02/2029 Industry Internet Software and Services Current Coupon 9.75% Basis Point Spread Above Index 1M SOFR+ 5752025-09-300001504619pflt:BlackRockFederalFDInstitutionalEightyOneMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity UniTek Global Services, Inc. - Preferred Equity Acquisition 1/13/2015 Industry Telecommunications Coupon 13.50%2024-10-012025-09-300001504619pflt:FoodProductsMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Eval Home Care Solutions Intermediate, LLC - Unfunded Revolver Acquisition 05/10/2024 Maturity 05/10/2030 Industry Healthcare, Education and Childcare2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MOREgroup Holdings, Inc. - Unfunded Revolver Acquisition 1/9/2024 Maturity 01/16/2030 Industry Construction & Engineering2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants AG Investco - Common Equity Acquisition 11/5/2018 Industry Software2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Lash OpCo, LLC - Funded Revolver Acquisition 8/16/2021 Maturity 08/16/2026 Industry Personal Products Current Coupon 8.82% (PIK 5.10%) Basis Point Spread Above Index 1M SOFR+ 5102025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Watchtower Buyer, LLC - Unfunded Revolver Acquisition 11/29/2023 Maturity 12/03/2029 Industry Electronic Equipment, Instruments, and Components2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Wash & Wax Systems, LLC Acquisition 4/30/2025 Maturity 04/30/2028 Industry Consumer Services Current Coupon 9.34% Basis Point Spread Above Index 3M SOFR+ 5502024-10-012024-12-310001504619us-gaap:FairValueInputsLevel3Member2025-09-300001504619us-gaap:FinancingReceivables30To59DaysPastDueMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Lightspeed Investment Holdco, LLC - Common Equity Acquisition 1/21/2020 Industry Healthcare Technology2025-09-300001504619First Lien Secured Debt Issuer Name MOREgroup Holdings, Inc. Acquisition 3/22/2024 Maturity 1/16/2030 Industry Business Services Current Coupon 9.25% Basis Point Spread Above Index SOFR+5252025-09-300001504619pflt:MarketingServicesMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Aechelon Technology, Inc. - Funded Revolver Acquisition 8/16/2024 Maturity 08/16/2029 Industry Aerospace and Defense Current Coupon 10.66% Basis Point Spread Above Index 1M SOFR+ 6502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Sabel InvestCo, LP. - Unfunded Common Equity Acquisition 10/31/2024 Industry Government Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants HPA SPQ Aggregator, LP - Common Equity Acquisition 6/8/2023 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Archer Lewis, LLC - Unfunded Term Loan Acquisition 8/28/2024 Maturity 08/28/2026 Industry Healthcare Technology2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Watchtower Buyer, LLC Acquisition 11/29/2023 Maturity 12/03/2029 Industry Electronic Equipment, Instruments, and Components Current Coupon 9.70% Basis Point Spread Above Index 3M SOFR+ 6002025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Sath Industries, LLC Acquisition 4/10/2025 Maturity 12/17/2029 Industry Event Services Current Coupon 9.17% Basis Point Spread Above Index SOFR+5502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Rosco Topco, LLC - Common Equity Acquisition 9/9/2025 Industry Business Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Systems Planning And Analysis, Inc. Acquisition 10/12/2021 Maturity 08/16/2027 Industry Aerospace and Defense Current Coupon 8.42% Basis Point Spread Above Index 3M SOFR+ 4752025-10-012025-12-310001504619First Lien Secured Debt Issuer Name ORL Acquisition, Inc. Acquisition 5/22/2025 Maturity 9/3/2027 Industry Consumer Finance Current Coupon 13.70% Basis Point Spread Above Index SOFR+9402024-10-012025-09-300001504619pflt:EquityInterestsInPSSLMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt IG Investments Holdings, LLC Acquisition 11/23/2021 Maturity 09/22/2028 Industry Professional Services Current Coupon 9.31% Basis Point Spread Above Index 3M SOFR+ 5002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Express Wash Acquisition Company, LLC - Unfunded Revolver Acquisition 4/10/2025 Maturity 4/10/2031 Industry Automobiles2025-12-310001504619pflt:ClassDNotesMemberpflt:DebtSecuritizationMember2025-02-280001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt North American Rail Solutions, LLC - Funded Revolver Acquisition 8/29/2025 Maturity 08/29/2031 Industry Manufacturing/Basic Industry Current Coupon 8.47% Basis Point Spread Above Index 3M SOFR+ 4752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Inventus Power, Inc. - Unfunded Revolver Acquisition 6/29/2023 Maturity 01/15/2026 Industry Electronic Equipment, Instruments, and Components2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Carisk Buyer, Inc. Acquisition 11/21/2025 Maturity 12/3/2029 Industry Healthcare Technology Current Coupon 8.67% Basis Point Spread Above Index SOFR+5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Municipal Emergency Services, Inc. Acquisition 9/23/2021 Maturity 10/01/2027 Industry Distributors Current Coupon 9.15% Basis Point Spread Above Index 3M SOFR+ 5152024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sales Benchmark Index, LLC Acquisition 12/23/2019 Maturity 7/7/2026 Industry Professional Services Current Coupon 10.20% Basis Point Spread Above Index 3M SOFR+ 6002025-09-300001504619pflt:TwoThousandThirtySixAssetBackedDebtMemberpflt:PennantParkSeniorSecuredLoanFundILLCMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Meadowlark Acquirer, LLC Acquisition 12/9/2021 Maturity 12/10/2027 Industry Professional Services Current Coupon 9.32% Basis Point Spread Above Index 3M SOFR+ 5652025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Spendmend Holdings, LLC Acquisition 4/11/2023 Maturity 3/1/2028 Industry Healthcare Technology Current Coupon 9.15% Basis Point Spread Above Index SOFR+5152024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Inovex Information Systems Incorporated Acquisition 12/17/2024 Maturity 12/17/2030 Industry Software Current Coupon 9.25% Basis Point Spread Above Index 3M SOFR+ 5252025-09-300001504619pflt:PennantParkSeniorSecuredLoanFundIILLCMember2025-09-300001504619First Lien Secured Debt Issuer Name Marketplace Events Acquisition, LLC Acquisition 1/13/2025 Maturity 12/19/2030 Industry Media Current Coupon 9.12% Basis Point Spread Above Index SOFR+5252025-10-012025-12-310001504619Equity Securities Issuer Name Output Services Group, Inc. - Common Equity Acquisition 12/1/2023 Industry Business Services2024-10-012025-09-300001504619us-gaap:FairValueInputsLevel1Memberpflt:TwoThousandThirtySevenAssetBackedDebtMember2025-12-310001504619pflt:ClassDRNotesMemberpflt:SecuredOvernightFinancingRateMemberpflt:RTwoThousandAndThirtySixAssetBackedDebtMember2024-07-252024-07-250001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Tinicum Space Coast Co-Invest, LLC Acquisition 12/4/2019 Industry Aerospace and Defense2025-12-310001504619First Lien Secured Debt Issuer Name Medina Health, LLC Acquisition 11/6/2023 Maturity 10/20/2028 Industry Healthcare and Pharmaceuticals Current Coupon 9.92% Basis Point Spread Above Index SOFR+6252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt LAV Gear Holdings, Inc. - Incremental TL Acquisition 7/31/2025 Maturity 07/31/2029 Industry Capital Equipment Current Coupon 10.10% (PIK 3.44%)2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Global Holdings InterCo, LLC Acquisition 6/8/2021 Maturity 3/16/2026 Industry Diversified Financial Services Current Coupon 9.74% Basis Point Spread Above Index SOFR+5602024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Kinetic Purchaser, LLC Acquisition 11/30/2021 Maturity 11/10/2027 Industry Personal Products Current Coupon 9.82% Basis Point Spread Above Index SOFR+6152025-12-310001504619us-gaap:CashAndCashEquivalentsMemberpflt:PennantParkSeniorSecuredLoanFundIILLCMemberpflt:CashAndCashEquivalentsZeroPointOnePercentMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Beacon Behavioral Support Services, LLC Acquisition 6/21/2024 Maturity 06/21/2029 Industry Healthcare Providers and Services Current Coupon 9.17% Basis Point Spread Above Index 3M SOFR+ 5502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Connatix Parent, LLC - Common Equity Acquisition 7/8/2021 Industry Media2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Duggal Acquisition, LLC Acquisition 4/10/2025 Maturity 9/30/2030 Industry Marketing Services Current Coupon 8.75% Basis Point Spread Above Index SOFR+4752024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Recteq, LLC Acquisition 2/24/2021 Maturity 01/29/2026 Industry Leisure Products Current Coupon 10.07% Basis Point Spread Above Index SOFR+6402025-12-310001504619First Lien Secured Debt Issuer Name PCS MIDCO, Inc. Acquisition 4/10/2025 Maturity 03/01/2030 Industry Diversified Consumer Services Current Coupon 9.42% Basis Point Spread Above Index SOFR+5752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt North American Rail Solutions, LLC Acquisition 8/29/2025 Maturity 08/29/2031 Industry Manufacturing/Basic Industry Current Coupon 8.42% Basis Point Spread Above Index 3M SOFR+ 4752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Walker Edison Furniture Company, LLC - Unfunded Term Loan Acquisition 3/1/2023 Maturity 03/01/2029 Industry Wholesale2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sabel Systems Technology Solutions, LLC Acquisition 10/31/2024 Maturity 10/31/2030 Industry Government Services Current Coupon 9.77% Basis Point Spread Above Index 3M SOFR+ 5752024-10-012025-09-3000015046192021-10-012021-10-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt Beacon Behavioral Holdings, LLC Acquisition 6/21/2024 Maturity 06/21/2030 Industry Healthcare Providers and Services Current Coupon 15.00%2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity C5MI Holdco, LLC - Preferred Equity Acquisition 7/31/2024 Industry IT Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Imagine Topco. LP - Preferred Equity Acquisition 11/4/2021 Industry Software Current Coupon 8.00%2025-09-300001504619us-gaap:FairValueInputsLevel1Memberpflt:TwoThousandAndThirtySixAssetBackedDebtMember2025-09-300001504619First Lien Secured Debt Issuer Name Azureon, LLC (F/K/A Tpcn Midco, LLC) Acquisition 4/10/2025 Maturity 6/26/2029 Industry Diversified Consumer Services Current Coupon 9.75% Basis Point Spread Above Index SOFR+5752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Blackhawk Industrial Distribution, Inc. - Unfunded Revolver Acquisition 6/27/2022 Maturity 9/17/2026 Industry Distributors2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt C5MI Acquisition, LLC - Unfunded Revolver 7/31/2024 Maturity 07/31/2029 Industry IT Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ETE Intermediate II, LLC - Funded Revolver Acquisition 05/24/2023 Maturity 05/25/2029 Industry Diversified Consumer Services Current Coupon 9.17% Basis Point Spread Above Index 3M SOFR+ 5002025-09-300001504619First Lien Secured Debt Issuer Name Sath Industries, LLC Acquisition 11/18/2025 Maturity 12/17/2029 Industry Building Products Current Coupon 9.17% Basis Point Spread Above Index SOFR+5502025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Omnia Exterior Solutions, LLC Acquisition 11/1/2024 Maturity 12/31/2029 Industry Diversified Consumer Services Current Coupon 8.92% Basis Point Spread Above Index SOFR+5252025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Aechelon Technology, Inc. Acquisition 4/10/2025 Maturity 8/16/2029 Industry Aerospace and Defense Current Coupon 9.91% Basis Point Spread Above Index SOFR+5752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sath Industries, LLC - Unfunded Revolver Acquisition 12/17/2024 Maturity 12/17/2029 Industry Event Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Boss Industries, LLC - Unfunded Revolver Acquisition 12/27/2024 Maturity 12/27/2030 Industry Independent Power and Renewable Electricity Producers2025-03-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Pink Lilly Holdco, LLC - Unfunded Revolver Acquisition 11/5/2021 Maturity 11/9/2027 Industry Textiles, Apparel and Luxury Goods2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Keel Platform, LLC Acquisition 1/26/2024 Maturity 01/20/2031 Industry Metals and Mining Current Coupon 8.42% Basis Point Spread Above Index 3M SOFR+ 4752025-12-310001504619First Lien Secured Debt Issuer Name Puget Collision, LLC Acquisition 11/18/2025 Maturity 10/2/2031 Industry Automobiles Current Coupon 8.42% Basis Point Spread Above Index SOFR+4752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants IHS Parent Holdings, LP - Common Equity Acquisition 12/21/2022 Industry Commercial Services & Supplies2025-12-310001504619Equity Securities Issuer Name Pragmatic Holdco, Inc. - Common Equity Acquisition 3/28/2025 Industry Education2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PCS MIDCO, Inc. - Unfunded Term Loan Acquisition 3/1/2024 Maturity 03/02/2026 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt OSP Embedded Purchaser, LP - Convertible Note Acquisition 11/6/2024 Maturity 05/8/2030 Industry Aerospace and Defense Current Coupon 12.00%2024-10-012025-09-300001504619us-gaap:TechnologySectorMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Symplr Software, Inc. Acquisition 8/27/2025 Maturity 12/20/2027 Industry Software Current Coupon 8.44% Basis Point Spread Above Index 3M SOFR+ 4602025-12-310001504619pflt:ClassA1SeniorSecuredFloatingRateNotesDue2036Memberpflt:TwoThousandAndThirtySixAssetBackedDebtMemberpflt:SecuredOvernightFinancingRateMember2024-02-012024-02-290001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Lightspeed Buyer, Inc. Acquisition 1/21/2020 Maturity 02/03/2027 Industry Healthcare Technology Current Coupon 8.75% Basis Point Spread Above Index 3M SOFR+ 4752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt NORA Acquisition, LLC - Funded Revolver Acquisition 8/22/2023 Maturity 08/31/2029 Industry Healthcare Providers and Services Current Coupon 10.02% Basis Point Spread Above Index 3M SOFR+ 6352025-12-310001504619First Lien Secured Debt Issuer Name One Stop Mailing, LLC Acquisition 7/8/2021 Maturity 05/07/2027 Industry Air Freight and Logistics Current Coupon 10.08% Basis Point Spread Above Index SOFR+6362025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Aphix Buyer, Inc. - Unfunded Revolver Acquisition 7/17/2025 Maturity 07/17/2031 Industry Business Services2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name DRS Holdings III, Inc. Acquisition 1/27/2021 Maturity 11/01/2028 Industry Consumer Goods: Durable Current Coupon 8.97% Basis Point Spread Above Index SOFR+5252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Municipal Emergency Services, Inc. - Common Equity Acquisition 9/28/2021 Industry Distributors2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Second Lien Secured Debt Team Services Group, LLC - 2nd Lien Acquisition 2/23/2024 Maturity 12/18/2028 Industry Healthcare Providers and Services Current Coupon 13.10% Basis Point Spread Above Index 3M SOFR+ 9262024-10-012024-12-310001504619pflt:ClassDNotesMemberpflt:PennantParkCLO12LLCMember2025-04-012025-04-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt IG Investments Holdings, LLC - Unfunded Revolver Acquisition 11/23/2021 Maturity 09/22/2028 Industry Professional Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Burgess Point Holdings, LP - Common Equity Acquisition 7/21/2022 Industry Auto Components2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants OHCP V BC COI, LP - Common Equity Acquisition 12/13/2021 Industry Distributors2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt AFC-Dell Holding Corp. - Unfunded Term Loan Acquisition 2/22/2024 Maturity 04/09/2027 Industry Distributors2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Smartronix, LLC Acquisition 12/3/2025 Maturity 2/6/2032 Industry Aerospace and Defense Current Coupon 8.42% Basis Point Spread Above Index SOFR+4502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TCG 3.0 Jogger Acquisitionco, Inc. - Funded Revolver Acquisition 1/23/2024 Maturity 1/23/2029 Industry Media Current Coupon 12.75% Basis Point Spread Above Index 3M SOFR+ 5502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Icon Partners V C, LP - Common Equity Acquisition 12/20/2021 Industry Internet Software and Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt The Bluebird Group, LLC - Unfunded Revolver Acquisition 7/22/2021 Maturity Date 07/28/2026 Industry Professional Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Graffiti Buyer, Inc. Acquisition 08/09/2021 Maturity 08/10/2027 Industry Trading Companies & Distributors Current Coupon 9.66% Basis Point Spread Above Index 3M SOFR+ 5602024-10-012025-09-300001504619First Lien Secured Debt Issuer Name The Vertex Companies, LLC Acquisition 4/11/2023 Maturity 8/31/2028 Industry Construction and Engineering Current Coupon 8.93% Basis Point Spread Above Index SOFR+4752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rancho Health MSO, Inc. - Unfunded Term Loan Acquisition 12/20/2024 Maturity 06/30/2026 Industry Healthcare Equipment and Supplies2025-10-012025-12-310001504619pflt:SBADebenturesMember2024-02-012024-02-290001504619First Lien Secured Debt Issuer Name OSP Embedded Purchaser, LLC Acquisition 11/19/2024 Maturity 12/17/2029 Industry Aerospace and Defense Current Coupon 9.76% Basis Point Spread Above Index SOFR+5752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt BLC Holding Company, Inc. - Unfunded Revolver Acquisition 11/20/2024 Maturity 11/20/2030 Industry Business Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cartessa Aesthetics, LLC - Funded Revolver Acquisition 6/1/2022 Maturity 06/14/2028 Industry Distributors Current Coupon 10.00% Basis Point Spread Above Index 3M SOFR+ 6002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Hills Distribution, Inc. - Unfunded Term Loan Acquisition 11/2/2023 Maturity 11/07/2025 Industry Distributors2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carisk Buyer, Inc. - Unfunded Term Loan Acquisition 11/27/2023 Maturity 12/3/2029 Industry Healthcare Technology2025-12-310001504619pflt:CommercialServicesAndSuppliesMember2025-12-310001504619Investments in Controlled, Affiliated Portfolio Companies Equity InterestsPennantPark Senior Secured Loan Fund II LLC - Common Equity Acquisition 11/18/2025 Industry Financial Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ETE Intermediate II, LLC - Unfunded Revolver Acquisition 5/24/2023 Maturity 5/25/2029 Industry Diversified Consumer Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Bioderm, Inc. Acquisition 8/27/2025 Maturity 01/31/2028 Industry Healthcare Equipment and Supplies Current Coupon 10.36% Basis Point Spread Above Index 1M SOFR+ 6502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Podean Intermediate II, LLC - Common Equity Acquisition 11/18/2025 Industry Marketing Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt BLC Holding Company, Inc. - Unfunded Revolver Acquisition 11/20/2024 Maturity 11/20/2030 Industry Business Services2025-09-300001504619us-gaap:FinancingReceivables30To59DaysPastDueMember2024-10-012025-09-300001504619pflt:EightHundredFiftyNinePointFourOfNetAssetsMembercountry:US2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Aechelon Technology, Inc. - Funded Revolver Acquisition 8/16/2024 Maturity 08/16/2029 Industry Aerospace and Defense Current Coupon 10.66% Basis Point Spread Above Index 1M SOFR+ 6502024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt IG Investments Holdings, LLC Acquisition 11/23/2021 Maturity 9/22/2028 Industry Professional Services Current Coupon 8.84% Basis Point Spread Above Index 3M SOFR+ 5002025-12-310001504619Equity Securities Issuer Name Pragmatic Holdco, Inc. - Common Equity Acquisition 3/28/2025 Industry Education2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Project Granite Holdings, LLC Acquisition 12/31/2024 Industry Professional Services2025-09-300001504619First Lien Secured Debt Issuer Name Pink Lily Holdco, LLC Acquisition 11/30/2021 Maturity 11/9/2027 Industry Textiles, Apparel and Luxury Goods Current Coupon 4.35%2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Accounting Platform Holdings, Inc. - Preferred Equity - Series A Acquisition 8/9/2024 Industry Professional Services2025-10-012025-12-310001504619pflt:ClassA2RNotesMemberpflt:RTwoThousandAndThirtySixAssetBackedDebtMember2024-07-250001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sigma Defense Systems, LLC - Funded Revolver Acquisition 11/30/2021 Maturity 12/20/2027 Industry IT Services Current Coupon 10.90% Basis Point Spread Above Index 3M SOFR+ 6902025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MBS Holdings, Inc. Acquisition 12/19/2024 Maturity 04/16/2027 Industry Internet Software and Services Current Coupon 8.92% Basis Point Spread Above Index 3M SOFR+ 5102025-12-310001504619pflt:TwoThousandThirtySevenAsset-BackedDebtMemberpflt:PennantParkSeniorSecuredLoanFundILLCMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants GCOM InvestCo, LP - Common Equity Acquisition 6/22/2021 Industry IT Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt The Bluebird Group, LLC Acquisition 7/22/2021 Maturity 07/28/2026 Industry Professional Services Current Coupon 9.60% Basis Point Spread Above Index 3M SOFR+ 5902025-10-012025-12-310001504619First Lien Secured Debt Issuer Name North American Rail Solutions, LLC Acquisition 8/29/2025 Maturity 08/29/2031 Industry Manufacturing/Basic Industry Current Coupon 8.42% Basis Point Spread Above Index SOFR+4752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Hancock Roofing and Construction, LLC Acquisition 12/23/2020 Maturity 12/31/2026 Industry Insurance Current Coupon 9.27% Basis Point Spread Above Index 3M SOFR+ 5602025-12-310001504619pflt:PennantParkSeniorSecuredLoanFundILLCMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants SP L2 Holdings, LLC - Common Equity Acquisition 11/4/2021 Industry Leisure Products2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants ORL Holdco, Inc. - Common Equity Acquisition 9/1/2021 Industry Consumer Finance2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rancho Health MSO, Inc. Acquisition 12/20/2024 Maturity 6/20/2029 Industry Healthcare Equipment and Supplies Current Coupon 9.29% Basis Point Spread Above Index 3M SOFR+ 5002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Argano, LLC – Unfunded Revolver Acquisition 9/13/2024 Maturity 09/13/2029 Industry Business Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants TPC Holding Company, LP - Common Equity Acquisition 10/27/2021 Industry Food Products2025-10-012025-12-310001504619pflt:SecondLienMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cornerstone Advisors of Arizona, LLC Acquisition 5/13/2025 Maturity 05/13/2032 Industry Consulting Services Current Coupon 8.75% Basis Point Spread Above Index 3M SOFR+ 4752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rural Sourcing Holdings, Inc. - Funded Revolver Acquisition 6/8/2023 Maturity 06/15/2029 Industry Professional Services Current Coupon 9.42% Basis Point Spread Above Index 3M SOFR+ 5752025-10-012025-12-310001504619us-gaap:EquityMethodInvestmentsMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Aftermarket Drivetrain Products Holdings, LLC - Common Equity Acquisition 12/29/2023 Industry Auto Components2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity UniTek Global Services, Inc. - Senior Preferred Equity Acquisition 1/13/2015 Industry Telecommunications Coupon 19.00%2025-09-300001504619pflt:HealthcareEquipmentAndSuppliesMember2025-12-310001504619pflt:TwoThousandAndTwentySixNotesTwoMember2021-10-012021-10-310001504619pflt:ClassDNotesMember2025-11-012025-11-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ledge Lounger, Inc. Acquisition 2/7/2022 Maturity 11/09/2026 Industry Leisure Products Current Coupon 11.32% (PIK 1.00%) Basis Point Spread Above Index 3M SOFR+ 7652025-10-012025-12-310001504619us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Penta Group Holdings, Inc. - Unfunded Revolver Acquisition 7/31/2025 Maturity 07/31/2031 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt RRA Corporate, LLC Acquisition 8/15/2024 Maturity 08/15/2029 Industry Diversified Consumer Services Current Coupon 8.94% Basis Point Spread Above Index 3M SOFR+ 5252025-12-310001504619Investments in Controlled, Affiliated Portfolio Companies First Lien Secured Debt PennantPark Senior Secured Loan Fund II, LLC Acquisition 11/18/2025 Maturity 11/18/2025 Industry Financial Services Current Coupon 11.89% Basis Point Spread Above Index 3M SOFR+ 8002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Seacoast Service Partners NA, LLC - Unfunded Term Loan Acquisition 12/20/2024 Maturity 12/21/2026 Industry Diversified Consumer Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants APT Holdings, LLC - Common Equity Acquisition 9/29/2025 Industry Healthcare Providers and Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Exigo Intermediate II, LLC - Unfunded Revolver Acquisition 3/10/2022 Maturity 3/15/2027 Industry Software2025-12-310001504619First Lien Secured Debt Issuer Name Rancho Health MSO, Inc. Acquisition 11/18/2025 Maturity 6/20/2029 Industry Healthcare Providers & Services Current Coupon 8.99% Basis Point Spread Above Index SOFR+5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Hills Distribution, Inc. Acquisition 11/2/2023 Maturity 11/08/2029 Industry Distributors Current Coupon 10.32% Basis Point Spread Above Index 1M SOFR+ 6002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Harris & Co. LLC - Funded Revolver Acquisition 08/09/2024 Maturity 08/09/2030 Industry Professional Services Current Coupon 9.16% Basis Point Spread Above Index 1M SOFR+ 5002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Beta Plus Technologies, Inc. Acquisition 2/29/2024 Maturity 07/02/2029 Industry Internet Software and Services Current Coupon 9.75% Basis Point Spread Above Index 1M SOFR+ 5752024-10-012025-09-300001504619First Lien Secured Debt Issuer Name The Bluebird Group, LLC Acquisition 11/18/2025 Maturity 7/28/2026 Industry Professional Services Current Coupon 9.57%Basis Point Spread Above Index SOFR+5902025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity SP L2 Holdings, LLC - Unfunded Preferred Equity Acquisition 11/4/2021 Industry Leisure Products2025-09-300001504619First Lien Secured Debt Issuer Name Azureon, LLC (F/K/A Tpcn Midco, LLC) Acquisition 4/10/2025 Maturity 6/26/2029 Industry Diversified Consumer Services Current Coupon 9.42% Basis Point Spread Above Index SOFR+5752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Inventus Power, Inc. - Unfunded Revolver Acquisition 6/29/2023 Maturity 01/15/2026 Industry Electronic Equipment, Instruments, and Components2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Pink Lily Holdco, LLC - Preferred Equity - Class A-1 Acquisition 11/5/2021 Industry Textiles, Apparel and Luxury Goods2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants EDS Topco, LP - Common Equity Acquisition 12/19/2022 Industry Electronic Equipment, Instruments, and Components2025-09-300001504619pflt:TwoThousandAndThirtySixAssetBackedDebtMemberpflt:ClassBNotesMemberpflt:SecuredOvernightFinancingRateMember2024-02-012024-02-290001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MAG DS Corp. Acquisition 9/21/2020 Maturity 4/01/2027 Industry Aerospace and Defense Current Coupon 9.60% Basis Point Spread Above Index 3M SOFR+ 5602025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Symplr Software, Inc. Acquisition 8/27/2025 Maturity 12/20/2027 Industry Software Current Coupon 8.44% Basis Point Spread Above Index 3M SOFR+ 4602025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Paving Parent, LLC - Common Equity Acquisition 7/1/2025 Industry Business Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Hancock Claims Consultants Investors, LLC - Common Equity Acquisition 12/23/2020 Industry Insurance2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Capital Construction, LLC Acquisition 8/28/2025 Maturity 10/22/2026 Industry Consumer Services Current Coupon 9.89% Basis Point Spread Above Index SOFR+5902025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Athletico Holdings, LLC - Common Equity Acquisition 2/4/2022 Industry Healthcare Providers and Services2024-10-012025-09-300001504619us-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberpflt:ValuationTechniqueMarketComparableMemberpflt:MeasurementInputMarketYieldMemberpflt:FirstLienMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants OES Co-Invest, LP - Common Equity - Class A Acquisition 5/31/2024 Industry Diversified Consumer Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Impact Advisors, LLC - Unfunded Revolver Acquisition 3/21/2025 Maturity 03/19/2032 Industry Business Services2025-10-012025-12-310001504619pflt:ControlledAffiliatedInvestmentsMember2024-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PCS MIDCO, Inc. Acquisition 3/1/2024 Maturity 03/01/2030 Industry Professional Services Current Coupon 9.42% Basis Point Spread Above Index 3M SOFR+ 5752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Impact Advisors, LLC - Unfunded Term Loan Acquisition 3/21/2025 Maturity 03/21/2027 Industry Business Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PCS MIDCO, Inc. - Unfunded Revolver Acquisition 3/1/2024 Maturity 03/01/2030 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Delta InvestCo, LP - Unfunded Common Equity Acquisition 12/16/2020 Industry IT Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ledge Lounger, Inc. - Funded Revolver Acquisition 2/7/2022 Maturity 11/09/2026 Industry Leisure Products Current Coupon 11.32% (PIK 1.00%) Basis Point Spread Above Index 3M SOFR+ 7652025-10-012025-12-310001504619pflt:PennantParkSeniorSecuredLoanFundIILLCMember2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name HEC Purchaser Corp. Acquisition 11/18/2025 Maturity 6/17/2029 Industry Health Care Equipment & supplies Current Coupon 8.67% Basis Point Spread Above Index SOFR+5002025-10-012025-12-310001504619pflt:AllOtherIndustriesMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Smile Brands, Inc. - Unfunded Revolver Acquisition 10/4/2018 Maturity 10/12/2027 Industry Healthcare and Pharmaceuticals2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Rancho Health MSO, Inc. Acquisition 4/11/2023 Maturity 06/20/2029 Industry Healthcare Providers and Services Current Coupon 8.99% Basis Point Spread Above Index SOFR+5002025-10-012025-12-310001504619pflt:PreferredEquityMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Eval Home Care Solutions Intermediate, LLC - Unfunded Revolver Acquisition 05/10/2024 Maturity 05/10/2030 Industry Healthcare, Education and Childcare2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt Wash & Wax Systems, LLC - Subordinate Debt Acquisition 4/30/2025 Maturity 07/30/2028 Industry Consumer Services Current Coupon 12.00%2025-09-300001504619us-gaap:FairValueInputsLevel2Member2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ETE Intermediate II, LLC - Unfunded Revolver Acquisition 5/24/2023 Maturity 5/25/2029 Industry Diversified Consumer Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Magnolia Topco, LP - Preferred Equity - Class B Acquisition 7/25/2023 Industry Automobiles2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Exigo Intermediate II, LLC - Unfunded Revolver Acquisition 03/10/2022 Maturity 03/15/2027 Industry Software2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Azureon, LLC (F/K/A Tpcn Midco, LLC) Acquisition 6/26/2024 Maturity 06/26/2029 Industry Diversified Consumer Services Current Coupon 9.75% Basis Point Spread Above Index 3M SOFR+ 5752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants SP DXE Holdings, LLC - Common Equity Acquisition 12/20/2024 Industry Electronic Equipment, Instruments, and Components2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Inovex Information Systems Incorporated - Unfunded Revolver Acquisition 12/17/2024 Maturity 12/17/2030 Industry Software2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt IG Investments Holdings, LLC Acquisition 11/23/2021 Maturity 09/22/2028 Industry Professional Services Current Coupon 9.31% Basis Point Spread Above Index 3M SOFR+ 4502024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Blackhawk Industrial Distribution, Inc. Acquisition 6/27/2022 Maturity 9/17/2026 Industry Distributors Current Coupon 9.07% Basis Point Spread Above Index 3M SOFR+ 5402025-03-310001504619First Lien Secured Debt Issuer Name The Bluebird Group, LLC Acquisition 8/9/2021 Maturity 07/28/2026 Industry Professional Services Current Coupon 9.57% Basis Point Spread Above Index SOFR+5902025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Graffiti Buyer, Inc. - Unfunded Revolver Acquisition 8/9/2021 Maturity 8/10/2027 Industry Trading Companies & Distributors2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rural Sourcing Holdings, Inc. - Unfunded Revolver Acquisition 6/8/2023 Maturity 6/15/2029 Industry Professional Services2025-09-300001504619pflt:AutoComponentsMember2025-09-300001504619pflt:ClassDRNotesMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Express Wash Acquisition Company, LLC Acquisition 4/10/2025 Maturity 4/10/2031 Industry Automobiles Current Coupon 10.18% Basis Point Spread Above Index 3M SOFR+ 6252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Impact Advisors, LLC - Unfunded Term Loan Acquisition 3/21/2025 Maturity 03/21/2027 Industry Business Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Megawatt Acquisition Partners, LLC - Preferred Equity - Class A Acquisition 6/28/2024 Industry Electronic Equipment, Instruments, and Components2025-12-310001504619pflt:SubordinateDebtMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ETE Intermediate II, LLC - Unfunded Revolver Acquisition 05/24/2023 Maturity 05/25/2029 Industry Diversified Consumer Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Capital Construction, LLC - Unfunded Term Loan Acquisition 6/30/2025 Maturity 12/30/2025 Industry Consumer Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MDI Buyer, Inc. - Unfunded Term Loan Acquisition 3/16/2023 Maturity 07/25/2028 Industry Commodity Chemicals2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt Integrative Nutrition, LLC - Promissory Note #1 Acquisition 4/17/2025 Maturity 04/15/2030 Industry Consumer Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MAG DS Corp. Acquisition 9/21/2020 Maturity 04/01/2027 Industry Aerospace and Defense Current Coupon 9.27% Basis Point Spread Above Index 3M SOFR+ 5602025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt Schlesinger Global, LLC - Promissory Note Acquisition 2/21/2024 Maturity 09/30/2027 Industry Professional Services Current Coupon 12.56% Basis Point Spread Above Index 3M SOFR+ 8602024-10-012024-12-310001504619pflt:PennantParkCLOVILLCMemberpflt:ClassLoansC-RMember2025-05-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Safe Haven Defense Holdco, LLC - Common Equity Acquisition 5/23/2024 Industry Building Products2024-10-012025-09-300001504619us-gaap:FairValueInputsLevel1Memberpflt:TwoThousandTwentySixNotesPayableMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Emergency Care Partners, LLC Acquisition 10/18/2024 Maturity 10/18/2027 Industry Healthcare Providers and Services Current Coupon 9.00% Basis Point Spread Above Index 3M SOFR+ 5002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity HPA SPQ Aggregator, LP - Preferred Equity Acquisition 6/8/2023 Industry Professional Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Magnolia Topco, LP - Common Equity - Class A Acquisition 7/25/2023 Industry Automobiles2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants 48Forty Intermediate Holdings, Inc. - Common Equity Acquisition 8/27/2025 Industry Business Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Azureon, LLC (F/K/A Tpcn Midco, LLC) Acquisition 6/26/2024 Maturity 06/26/2029 Industry Diversified Consumer Services Current Coupon 9.43% Basis Point Spread Above Index 3M SOFR+ 5752025-12-310001504619us-gaap:FairValueInputsLevel3Memberus-gaap:EquityMethodInvestmentsMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Spendmend Holdings, LLC - Unfunded Revolver Acquisition 3/1/2022 Maturity 03/01/2028 Industry Healthcare Technology2024-10-012025-09-3000015046192025-10-012025-10-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt NORA Acquisition, LLC Acquisition 8/22/2023 Maturity 08/31/2029 Industry Healthcare Providers and Services Current Coupon 10.41% Basis Point Spread Above Index 3M SOFR+ 6352025-09-300001504619pflt:PennantParkCLOVILLCMemberpflt:ClassLoansC-RMember2025-05-312025-05-310001504619First Lien Secured Debt Issuer Name Emergency Care Partners, LLC Acquisition 11/20/2025 Maturity 10/18/2027 Industry Healthcare Providers & Services Current Coupon 8.67% Basis Point Spread Above Index SOFR+5002025-12-310001504619pflt:ClassDNotesMember2025-11-012025-11-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Magnolia Topco, LP - Preferred Equity - Class B Acquisition 7/25/2023 Industry Automobiles2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Infinity Home Services Holdco, Inc. - Unfunded Term Loan Acquisition 12/21/2022 Maturity 10/30/2026 Industry Commercial Services & Supplies2025-12-310001504619pflt:TwoThousandAndThirtySixAssetBackedDebtMemberpflt:ClassB1SeniorSecuredFloatingRateNotesDue2031Member2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Beacon Behavioral Support Services, LLC - Unfunded Term Loan - 3rd Amendment Acquisition 6/21/2024 Maturity 06/21/2027 Industry Healthcare Providers and Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Wash & Wax Group, LP - Common Equity Acquisition 1/13/2015 Industry Consumer Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Smile Brands, Inc. Acquisition 10/4/2018 Maturity 10/12/2027 Industry Healthcare and Pharmaceuticals Current Coupon 10.43% (PIK 1.50%) Basis Point Spread Above Index 1M SOFR+ 6102025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants QuantiTech InvestCo, LP - Common Equity Acquisition 5/1/2020 Industry Aerospace and Defense2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PlayPower, Inc. - Unfunded Revolver Acquisition 8/28/2024 Maturity 8/28/2030 Industry Leisure Products2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Peninsula Pacific Entertainment, LLC - Unfunded Term Loan Acquisition 8/15/2025 Maturity 08/25/2027 Industry Gaming2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants FedHC InvestCo, LP - Unfunded Common Equity Acquisition 8/26/2021 Industry Aerospace and Defense2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt OSP Embedded Purchaser, LLC Acquisition 12/11/2023 Maturity 12/17/2029 Industry Aerospace and Defense Current Coupon 9.47% Basis Point Spread Above Index 3M SOFR+ 5752025-10-012025-12-310001504619First Lien Secured Debt Issuer Name PCS MIDCO, Inc. Acquisition 11/25/2025 Maturity 3/1/2030 Industry Professional Services Current Coupon 9.42% Basis Point Spread Above Index SOFR+5752025-12-310001504619First Lien Secured Debt Issuer Name LAV Gear Holdings, Inc. - Takeback TL Acquisition 7/31/2025 Maturity 7/31/2029 Industry Capital Equipment Current Coupon 10.10% Basis Point Spread Above Index SOFR+5942025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants NORA Parent Holdings, LLC - Common Equity Acquisition 8/22/2023 Industry Healthcare Providers and Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants NFS - CFP Holdings LLC - Common Equity Acquisition 9/13/2024 Industry Commercial Services & Supplies2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Beacon Behavioral Support Services, LLC - Unfunded Term Loan - 3rd Amendment Acquisition 6/21/2024 Maturity 06/21/2027 Industry Healthcare Providers and Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Urology Management Holdings, Inc. Acquisition 4/11/2023 Maturity 6/15/2027 Industry Healthcare and Pharmaceuticals Current Coupon 9.66% Basis Point Spread Above Index SOFR+5502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Project Granite Buyer, Inc. Acquisition 12/31/2024 Maturity 12/31/2030 Industry Professional Services Current Coupon 9.42% Basis Point Spread Above Index 3M SOFR+ 5752025-12-310001504619First Lien Secured Debt Issuer Name The Bluebird Group, LLC Acquisition 8/9/2021 Maturity 07/28/2026 Industry Professional Services Current Coupon 9.57% Basis Point Spread Above Index SOFR+5902025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Megawatt Acquisitionco, Inc. Acquisition 4/29/2024 Maturity 03/01/2030 Industry Electronic Equipment, Instruments, and Components Current Coupon 9.17% Basis Point Spread Above Index SOFR+5502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Hancock Roofing and Construction, LLC - Funded Revolver Acquisition 12/23/2020 Maturity 12/31/2026 Industry Insurance Current Coupon 9.32% Basis Point Spread Above Index 3M SOFR+ 5602025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Hills Distribution, Inc. Acquisition 11/2/2023 Maturity 11/08/2029 Industry Distributors Current Coupon 10.32% Basis Point Spread Above Index 1M SOFR+ 6002024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Argano, LLC Acquisition 1/9/2025 Maturity 9/13/2029 Industry Business Services Current Coupon 9.89% Basis Point Spread Above Index SOFR+5752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MOREgroup Holdings, Inc. - Unfunded Term Loan Acquisition 1/9/2024 Maturity 01/16/2026 Industry Construction & Engineering2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carisk Buyer, Inc. Acquisition 11/27/2023 Maturity 12/3/2029 Industry Healthcare Technology Current Coupon 8.67% Basis Point Spread Above Index 3M SOFR+ 5002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Harris & Co. LLC - Unfunded Revolver Acquisition 8/9/2024 Maturity 8/9/2030 Industry Professional Services2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Lucky Bucks, LLC - First-Out Term Loan (5) Acquisition 12/1/2023 Maturity 10/2/2028 Industry Hotel, Gaming and Leisure Current Coupon 11.66% Basis Point Spread Above Index SOFR+7652025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Infinity Home Services Holdco, Inc. - Funded Revolver Acquisition 12/21/2022 Maturity 12/28/2028 Industry Commercial Services & Supplies Current Coupon 12.25%2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt RTIC Subsidiary Holdings, LLC - Unfunded Revolver Acquisition 5/3/2024 Maturity 05/03/2029 Industry Leisure Products2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Icon Partners V C, LP - Common Equity Acquisition 12/20/2021 Industry Internet Software and Services2025-10-012025-12-310001504619pflt:CashEquivalentsThreePointNinePercentOfNetAssetsMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt SV-Aero Holdings, LLC - Unfunded Term Loan Acquisition 10/31/2024 Maturity 11/2/2026 Industry Aerospace and Defense2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Alpine Acquisition Corp II Acquisition 10/11/2022 Maturity 11/30/2026 Industry Containers and Packaging2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants NFS - CFP Holdings LLC - Common Equity Acquisition 9/13/2024 Industry Commercial Services & Supplies2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity AFC Acquisitions, Inc. Preferred Equity - Series F-2 Acquisition 12/7/2023 Industry Distributors2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Anteriad, LLC (f/k/a MeritDirect, LLC) - Unfunded Revolver Acquisition 5/21/2019 Maturity 06/30/2026 Industry Media2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Kentucky Racing Holdco, LLC - Warrants Acquisition 7/31/2025 Industry Hotels, Restaurants and Leisure2025-12-310001504619First Lien Secured Debt Issuer Name The Bluebird Group, LLC Acquisition 8/9/2021 Maturity 7/28/2026 Industry Professional Services Current Coupon 9.90% Basis Point Spread Above Index SOFR+5902024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants QuantiTech InvestCo, LP - Common Equity Acquisition 5/1/2020 Industry Aerospace and Defense2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Case Works, LLC Acquisition 10/1/2024 Maturity 10/1/2029 Industry Professional Services Current Coupon 8.97% Basis Point Spread Above Index 3M SOFR+ 5252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Omnia Exterior Solutions, LLC - Unfunded Term Loan Acquisitions 12/29/2023 Maturity 09/30/2026 Industry Diversified Consumer Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Marketplace Events Acquisition, LLC - Common Equity Acquisition 12/19/2024 Industry Media: Diversified and Production2025-12-310001504619pflt:TwoThousandAndThirtySevenAssetBackedDebtMemberpflt:ClassA1NotesMemberpflt:SecuredOvernightFinancingRateMember2025-02-012025-02-280001504619First Lien Secured Debt Issuer Name Crane 1 Services, Inc. Acquisition 11/18/2005 Maturity 8/16/2027 Industry Commercial Services & Supplies Current Coupon 9.08% Basis Point Spread Above Index SOFR+5362025-12-310001504619pflt:TwoThousandAndThirtySixAssetBackedDebtMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MBS Holdings, Inc. - Unfunded Revolver Acquisition 4/14/2021 Maturity 04/16/2027 Industry Internet Software and Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Kinetic Purchaser, LLC - Funded Revolver Acquisition 11/08/2021 Maturity 11/10/2026 Industry Personal Products Current Coupon 10.15% Basis Point Spread Above Index 3M SOFR+ 6152024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants A1 Garage Equity, LLC - Common Equity Acquisition 12/19/2022 Industry Commercial Services & Supplies2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt US Fertility Enterprises, LLC Acquisition 10/7/2024 Maturity Date 10/11/2031 Industry Healthcare Providers and Services Current Coupon 8.80% Basis Point Spread Above Index 1M SOFR+ 4502024-10-012025-09-300001504619us-gaap:InvestmentUnaffiliatedIssuerMember2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name STG Distribution, LLC - First Out New Money Term Loans Acquisition 10/24/2024 Maturity 10/3/2029 Industry Air Freight and Logistics Current Coupon 12.57% Basis Point Spread Above Index SOFR+8352025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Azureon, LLC (F/K/A Tpcn Midco, LLC) - Funded Revolver Acquisition 6/26/2024 Maturity 06/26/2029 Industry Diversified Consumer Services Current Coupon 9.44% Basis Point Spread Above Index 3M SOFR+ 5752025-10-012025-12-310001504619pflt:PriorCreditFacilityMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Case Works, LLC Acquisition 10/1/2024 Maturity 10/01/2029 Industry Professional Services Current Coupon 9.25% Basis Point Spread Above Index 3M SOFR+ 5252024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Watchtower Buyer, LLC Acquisition 11/29/2023 Maturity 12/03/2029 Industry Electronic Equipment, Instruments, and Components Current Coupon 10.00% Basis Point Spread Above Index 3M SOFR+ 6002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Five Star Buyer, Inc. - Unfunded Revolver Acquisition 2/21/2023 Maturity 2/23/2028 Industry Hotels, Restaurants and Leisure2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MDI Buyer, Inc. Acquisition 3/16/2023 Maturity 07/25/2028 Industry Commodity Chemicals Current Coupon 8.46% Basis Point Spread Above Index 3M SOFR+ 4752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Watchtower Buyer, LLC - Unfunded Revolver Acquisition 11/29/2023 Maturity 12/03/2029 Industry Electronic Equipment, Instruments, and Components2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Azureon, LLC (F/K/A Tpcn Midco, LLC) - Unfunded Revolver Acquisition 6/26/2024 Maturity 06/26/2029 Industry Diversified Consumer Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Hills Distribution, Inc. - Unfunded Term Loan Acquisition 11/2/2023 Maturity 12/05/2027 Industry Distributors2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sigma Defense Systems, LLC - Unfunded Term Loan Acquisition 11/30/2021 Maturity 12/20/2027 Industry IT Services2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name BioDerm, Inc. Acquisition 2/28/2023 Maturity 1/31/2028 Industry Healthcare and Pharmaceuticals Current Coupon 10.36% Basis Point Spread Above Index SOFR+6502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Kentucky Racing Holdco, LLC - Warrants Acquisition 4/16/2019 Industry Hotels, Restaurants and Leisure2025-09-300001504619Equity Securities Issuer Name Pragmatic Holdco, Inc. - Common Equity Acquisition 3/28/2025 Industry Education2025-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:ValuationTechniqueMarketComparableMemberpflt:MeasurementInputMarketYieldMemberpflt:FirstLienMember2025-09-300001504619us-gaap:FairValueInputsLevel3Memberus-gaap:EquityMethodInvestmentsMembersrt:MinimumMemberus-gaap:MeasurementInputEbitdaMultipleMemberpflt:ValuationTechniqueEnterpriseMarketValueMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt ORL Holdco, Inc. - Convertible Notes Acquisition 8/2/2024 Maturity 03/8/2028 Industry Consumer Finance Current Coupon 18.00%2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants TWD Parent Holdings, LLC - Common Equity Acquisition 8/25/2021 Industry Construction & Engineering2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt By Light Professional IT Services, LLC Acquisition 7/15/2025 Maturity 07/15/2031 Industry High Tech Industries Current Coupon 9.66% Basis Point Spread Above Index 1M SOFR+ 5502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants OHCP V BC COI, LP - Unfunded Common Equity Acquisition 12/13/2021 Industry Distributors2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Dynata, LLC - First Out Term Loan Acquisition 7/15/2024 Maturity 7/17/2028 Industry Business Services Current Coupon 9.14% Basis Point Spread Above Index 3M SOFR+ 5262025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ad.net Acquisition, LLC Acquisition 5/4/2021 Maturity 05/07/2026 Industry Media Current Coupon 10.26% Basis Point Spread Above Index 3M SOFR+ 6262025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Omnia Exterior Solutions, LLC Acquisitions 12/29/2023 Maturity 12/31/2029 Industry Diversified Consumer Services Current Coupon 9.25% Basis Point Spread Above Index 3M SOFR+ 5252025-09-300001504619First Lien Secured Debt Issuer Name LAV Gear Holdings, Inc. - Priority TL Acquisition 7/31/2025 Maturity 07/31/2029 Industry Capital Equipment Current Coupon 9.65% Basis Point Spread Above Index SOFR+5942025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Gauge Loving Tan, LP - Common Equity Acquisition 5/25/2023 Industry Personal Products2025-10-012025-12-310001504619pflt:TwoThousandAndThirtySevenAssetBackedDebtMember2025-06-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Paving Lessor Corp. - Unfunded Revolver Acquisition 7/1/2025 Maturity 7/1/2031 Industry Business Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Walker Edison Furniture Company, LLC - Unfunded Term Loan Acquisition 8/29/2025 Maturity 03/01/2029 Industry Wholesale2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Kentucky Racing Holdco, LLC - Warrants Acquisition 7/31/2025 Industry Hotels, Restaurants and Leisure2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Express Wash Acquisition Company, LLC Acquisition 04/10/2025 Maturity 04/10/2031 Industry Automobiles Current Coupon 10.58% Basis Point Spread Above Index 3M SOFR+ 6252024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MES Intermediate, Inc. - Funded Revolver Acquisition 9/23/2021 Maturity 10/01/2027 Industry Distributors Current Coupon 11.50% Basis Point Spread Above Index 3M SOFR+ 4002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants New Medina Health, LLC - Common Equity Acquisition 10/16/2023 Industry Healthcare Providers and Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants White Tiger Newco, LLC - Common Equity Acquisition 6/27/2022 Industry Capital Equipment2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt HEC Purchaser Corp. Acquisition 7/25/2024 Maturity 6/17/2029 Industry Healthcare, Education and Childcare Current Coupon 8.67% Basis Point Spread Above Index 3M SOFR+ 5002025-12-310001504619pflt:AirFreightAndLogisticsMember2025-09-300001504619pflt:ClassLoansA-RMemberpflt:PennantParkCLOVILLCMember2025-05-312025-05-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt DRI Holding Inc. Acquisition 5/3/2024 Maturity 12/21/2028 Industry Media Current Coupon 9.51% Basis Point Spread Above Index 1M SOFR+ 5552024-10-012025-09-300001504619First Lien Secured Debt Issuer Name AFC-Dell Holding Corp. Acquisition 12/23/2024 Maturity 4/9/2027 Industry Distributors Current Coupon 9.83% Basis Point Spread Above Index SOFR+5502024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Gauge ETE Blocker, LLC - Common Equity Acquisition 5/24/2023 Industry Diversified Consumer Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity AFC Acquisitions, Inc. Preferred Equity - Series J-2 Acquisition 12/7/2023 Industry Distributors2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ad.net Acquisition, LLC Acquisition 5/4/2021 Maturity 05/07/2026 Industry Media Current Coupon 10.26% Basis Point Spread Above Index 3M SOFR+ 6262024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Big Top Holdings, LLC Acquisition 6/26/2024 Maturity 3/1/2030 Industry Business Services Current Coupon 9.25% Basis Point Spread Above Index SOFR+5252025-09-300001504619First Lien Secured Debt Issuer Name Seaway Buyer, LLC Acquisition 4/11/2023 Maturity 6/13/2029 Industry Chemicals, Plastics and Rubber Current Coupon 10.15% Basis Point Spread Above Index SOFR+6152025-09-300001504619pflt:TwoThousandAndThirtyOneAssetBackedDebtMemberpflt:ClassA1SeniorSecuredFloatingRateLoansMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt The Bluebird Group, LLC Acquisition 7/22/2021 Maturity 07/28/2026 Industry t Team Services Group, LLC Maturity 12/20/202 Industry Professional Services Current Coupon 9.90% Basis Point Spread Above Index 3M SOFR+ 5902025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity AFC Acquisitions, Inc. Preferred Equity - Series G-2 Acquisition 12/7/2023 Industry Distributors2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Peninsula Pacific Entertainment, LLC Acquisition 8/15/2025 Maturity 08/22/2032 Industry Gaming Current Coupon 8.42% Basis Point Spread Above Index 3M SOFR+ 4752025-12-310001504619First Lien Secured Debt Issuer Name HEC Purchaser Corp. Acquisition 4/10/2025 Maturity 6/17/2029 Industry Healthcare and Pharmaceuticals Current Coupon 8.87% Basis Point Spread Above Index SOFR+5002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt DX Electric Company, LLC - Unfunded Revolver Acquisition 10/1/2025 Maturity 10/1/2031 Industry Electronic Equipment, Instruments, and Components2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants NFS - CFP Holdings LLC - Common Equity Acquisition 9/13/2024 Industry Commercial Services & Supplies2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carisk Buyer, Inc. - Unfunded Revolver Acquisition 11/27/2023 Maturity 12/03/2029 Industry Healthcare Technology2024-10-012025-09-300001504619pflt:FirstLienSecuredDebtMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt APT OPCO, LLC - Unfunded Revolver Acquisition 9/29/2025 Maturity 09/30/2031 Industry Healthcare Providers and Services2025-09-300001504619pflt:ElectronicEquipmentInstrumentsAndComponentsMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Duggal Acquisition, LLC - Unfunded Term Loan Acquisition 9/30/2024 Maturity 9/30/2026 Industry Marketing Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Paving Parent, LLC - Common Equity Acquisition 7/1/2025 Industry Business Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Emergency Care Partners, LLC - Unfunded Term Loan Acquisition 10/18/2024 Maturity 10/19/2026 Industry Healthcare Providers and Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Argano, LLC - Unfunded Term Loan Acquisition 9/13/2024 Maturity 10/02/2026 Industry Business Services2024-10-012025-09-300001504619Investments in Controlled, Affiliated Portfolio Companies Equity Interests PennantPark Senior Secured Loan Fund I LLC - Common Equity Acquisition 8/10/2020 Industry Financial Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Emergency Care Partners, LLC - Unfunded Revolver Acquisition 10/18/2024 Maturity 10/18/2027 Industry Healthcare Providers and Services2024-10-012025-09-300001504619pflt:TwoThousandAndThirtySixAssetBackedDebtMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Spendmend Holdings, LLC - Unfunded Term Loan Acquisition 3/1/2022 Maturity 11/25/2026 Industry Healthcare Technology2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants First Medical Holdings, LLC - Common Equity Acquisition 6/13/2025 Industry Healthcare Providers and Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cf512, Inc. - Unfunded Revolver Acquisition 8/17/2021 Maturity 8/20/2026 Industry Media2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt North American Rail Solutions, LLC - Unfunded Revolver Acquisition 8/29/2025 Maturity 08/29/2031 Industry Manufacturing/Basic Industry2025-12-310001504619pflt:FirstLienInPSSLIIMember2025-12-310001504619First Lien Secured Debt Issuer Name Commercial Fire Protection Holdings, LLC Acquisition 11/26/2024 Maturity 09/23/2030 Industry Commercial Services & Supplies Current Coupon 8.17% Basis Point Spread Above Index SOFR+4502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Aechelon InvestCo, LP Acquisition 8/16/2024 Industry Aerospace and Defense2025-09-300001504619First Lien Secured Debt Issuer Name TMII Enterprises, LLC Acquisition 11/18/2025 Maturity 12/22/2028 Industry Professional Services Current Coupon 8.22% Basis Point Spread Above Index SOFR+4502025-10-012025-12-310001504619pflt:MarketingServicesMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants OES Co-Invest, LP - Common Equity - Class A Acquisition 5/31/2024 Industry Diversified Consumer Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt IG Investments Holdings, LLC - Unfunded Revolver Acquisition 11/23/2021 Maturity 9/22/2028 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Five Star Buyer, Inc. Acquisition 02/21/2023 Maturity 02/23/2028 Industry Hotels, Restaurants and Leisure Current Coupon 11.46 (PIK 1.00%) Basis Point Spread Above Index 3M SOFR+ 7152024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Eval Home Care Solutions Intermediate, LLC Acquisition 5/10/2024 Maturity 5/10/2030 Industry Healthcare, Education and Childcare Current Coupon 9.47% Basis Point Spread Above Index 1M SOFR+ 5752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rancho Health MSO, Inc. - Unfunded Revolver Acquisition 12/20/2024 Maturity 6/20/2029 Industry Healthcare Equipment and Supplies2025-09-300001504619Subordinate Debt Issuer Name Wash & Wax Systems LLC Acquisition 4/30/2025 Maturity 7/30/2028 Industry Automobiles Current Coupon 12.00%2025-09-300001504619pflt:TwoThousandAndThirtySevenAssetBackedDebtMemberpflt:SubordinatedNotesMember2025-02-280001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Seaway Buyer, LLC Acquisition 7/25/2024 Maturity 06/13/2029 Industry Chemicals, Plastics and Rubber Current Coupon 9.88% Basis Point Spread Above Index 3M SOFR+ 6152025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sigma Defense Systems, LLC Acquisition 11/30/2021 Maturity 12/20/2027 Industry IT Services Current Coupon 10.15% Basis Point Spread Above Index 3M SOFR+ 6152024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Carisk Parent, LP - Common Equity Acquisition 11/27/2023 Industry Healthcare Technology2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carisk Buyer, Inc. - Unfunded Term Loan Acquisition 11/27/2023 Maturity 12/03/2029 Industry Healthcare Technology2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Bioderm, Inc. Acquisition 8/27/2025 Maturity 01/31/2028 Industry Healthcare Equipment and Supplies Current Coupon 10.36% Basis Point Spread Above Index 1M SOFR+ 6502025-10-012025-12-310001504619pflt:ClassC1SecuredDeferrableFloatingRateNotesDue2031Memberpflt:TwoThousandAndThirtyOneAssetBackedDebtMember2019-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Tower Arch Infolinks Media, LP - Common Equity Acquisition 2/24/2021 Industry Media2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Five Star Parent Holdings, LLC - Common Equity Acquisition 2/21/2023 Industry Hotels, Restaurants and Leisure2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt CJX Borrower, LLC - Funded Revolver Acquisition 7/8/2021 Maturity 07/13/2027 Industry Media Current Coupon 10.07% Basis Point Spread Above Index 3M SOFR+ 5762024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Graffiti Buyer, Inc. - Funded Revolver Acquisition 08/09/2021 Maturity 08/10/2027 Industry Trading Companies & Distributors Current Coupon 9.85%2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Delta InvestCo, LP - Common Equity Acquisition 12/16/2020 Industry IT Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sigma Defense Systems, LLC Acquisition 11/30/2021 Maturity 12/20/2027 Industry IT Services Current Coupon 10.62% Basis Point Spread Above Index 3M SOFR+ 6902025-12-310001504619Investments in Controlled, Affiliated Portfolio Companies First Lien Secured Debt PennantPark Senior Secured Loan Fund I, LLC Acquisition 8/10/2020 Maturity 05/07/2029 Industry Financial Services Current Coupon 12.29% Basis Point Spread Above Index 3M SOFR+ 8002024-10-012025-09-300001504619pflt:InvestmentsAndCashEquivalentsMemberpflt:PennantParkSeniorSecuredLoanFundIILLCMember2025-12-310001504619First Lien Secured Debt Issuer Name MOREgroup Holdings, Inc. Acquisition 3/22/2024 Maturity 01/16/2030 Industry Business Services Current Coupon 8.92% Basis Point Spread Above Index SOFR+5252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Imagine Topco. LP - Common Equity Acquisition 11/4/2021 Industry Software2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MDI Buyer, Inc. - Unfunded Term Loan Acquisition 3/16/2023 Maturity 07/25/2028 Industry Commodity Chemicals2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name HEC Purchaser Corp. Acquisition 11/18/2025 Maturity 6/17/2029 Industry Health Care Equipment & supplies Current Coupon 8.67% Basis Point Spread Above Index SOFR+5002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PAR Excellence Holdings, Inc. - Unfunded Revolver Acquisition 9/3/2024 Maturity 09/03/2030 Industry Healthcare Technology2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name CJX Borrower, LLC Acquisition 7/29/2021 Maturity 7/13/2027 Industry Media Current Coupon 10.08% Basis Point Spread Above Index SOFR+5762025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PAR Excellence Holdings, Inc. Acquisition 9/3/2024 Maturity 09/03/2030 Industry Healthcare Technology Current Coupon 8.74% Basis Point Spread Above Index 3M SOFR+ 5002025-12-310001504619pflt:ClassBNotesMemberpflt:PennantParkCLO12LLCMember2025-04-012025-04-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Meadowlark Acquirer, LLC - Unfunded Revolver Acquisition 12/9/2021 Maturity 12/10/2027 Industry Professional Services2025-12-310001504619pflt:InvestmentsCashEquivalentsAndCashMember2025-12-310001504619pflt:ManufacturingBasicIndustryMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Azureon, LLC (F/K/A Tpcn Midco, LLC) - Unfunded Term Loan Acquisition 6/26/2024 Maturity 11/26/2027 Industry Diversified Consumer Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MBS Holdings, Inc. Acquisition 4/7/2025 Maturity 04/16/2027 Industry Internet Software and Services Current Coupon 9.30% Basis Point Spread Above Index 3M SOFR+ 5102025-09-300001504619pflt:PennantparkSeniorSecuredLoanFundLlcPortfolioMember2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt STG Distribution, LLC - Second Out Term Loans Acquisition 8/27/2025 Maturity 10/3/2029 Industry Air Freight and Logistics Current Coupon 5.32%2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Penta Group Holdings, Inc. - Unfunded Revolver Acquisition 7/31/2025 Maturity 7/31/2031 Industry Professional Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Archer Lewis, LLC Acquisition 8/28/2024 Maturity 08/28/2029 Industry Healthcare Technology Current Coupon 9.75% Basis Point Spread Above Index 3M SOFR+ 5752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt LAV Gear Holdings, Inc. - Incremental TL Acquisition 7/31/2025 Maturity 07/31/2029 Industry Capital Equipment Current Coupon 9.65% Basis Point Spread Above Index 1M SOFR+ 5942025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Marketplace Events Acquisition, LLC Acquisition 12/19/2024 Maturity 12/19/2030 Industry Media Current Coupon 9.25% Basis Point Spread Above Index 3M SOFR+ 5252025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt ORL Holdco, Inc. - Unfunded Convertible Notes Acquisition 8/2/2024 Maturity 03/08/2028 Industry Consumer Finance2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Pragmatic Institute, LLC Acquisition 3/28/2025 Maturity 3/28/2030 Industry Education Current Coupon 9.50% Basis Point Spread Above Index SOFR+5502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt North American Rail Solutions, LLC - Funded Revolver Acquisitions 8/29/2025 Maturity 08/29/2031 Industry Manufacturing/Basic Industry Current Coupon 8.75% Basis Point Spread Above Index 3M SOFR+ 4752024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Transgo, LLC Acquisition 1/19/2024 Maturity 12/29/2028 Industry Automotive Current Coupon 9.47% Basis Point Spread Above Index SOFR+5752025-12-310001504619First Lien Secured Debt Issuer Name CJX Borrower, LLC Acquisition 7/29/2021 Maturity 7/13/2027 Industry Media Current Coupon 10.08% Basis Point Spread Above Index SOFR+5762024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Walker Edison Furniture Company, LLC - Unfunded Term Loan Acquisition 8/29/2025 Maturity 3/1/2029 Industry Wholesale2025-09-300001504619First Lien Secured Debt Issuer Name GGG MIDCO, LLC Acquisition 11/18/2025 Maturity 9/27/2030 Industry Diversified Consumer Services Current Coupon 8.67% Basis Point Spread Above Index SOFR+5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Marketplace Events Acquisition, LLC - Unfunded Term Loan Acquisition 12/19/2024 Maturity 06/19/2026 Industry Media2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Aphix Buyer, Inc. - Unfunded Term Loan Acquisition 7/17/2025 Maturity 07/16/2027 Industry Business Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Recteq, LLC Acquisition 1/27/2021 Maturity 01/29/2026 Industry Leisure Products Current Coupon 10.07% Basis Point Spread Above Index 3M SOFR+ 6402025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Ad.Net Holdings, Inc. - Common Equity Acquisition 5/4/2021 Industry Media2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Five Star Buyer, Inc. - Unfunded Revolver Acquisition 2/21/2023 Maturity 2/23/2028 Industry Hotels, Restaurants and Leisure2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt SV-Aero Holdings, LLC Acquisition 10/31/2024 Maturity 11/01/2030 Industry Aerospace and Defense Current Coupon 8.67% Basis Point Spread Above Index 3M SOFR+ 5002025-12-310001504619pflt:ClassCRNotesMemberpflt:RTwoThousandAndThirtySixAssetBackedDebtMember2024-07-250001504619First Lien Secured Debt Issuer Name Meadowlark Acquirer, LLC Acquisition 1/29/2022 Maturity 12/10/2027 Industry Professional Services Current Coupon 9.65% Basis Point Spread Above Index SOFR+5652024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Output Services Group, Inc. - Last-out Term Loan Acquisition 11/30/2023 Maturity 05/30/2028 Industry Business Services Current Coupon 10.41% Basis Point Spread Above Index 3M SOFR+ 6682025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt BLC Holding Company, Inc. Acquisition 11/20/2024 Maturity 11/20/2030 Industry Business Services Current Coupon 8.2% Basis Point Spread Above Index 3M SOFR+ 4502025-03-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Watchtower Buyer, LLC - Unfunded Revolver Acquisition 11/29/2023 Maturity 12/03/2029 Industry Electronic Equipment, Instruments, and Components2024-10-012024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Penta Group Holdings, Inc. - Unfunded Term Loan Acquisition 7/31/2025 Maturity 07/31/2027 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carisk Buyer, Inc. Acquisition 11/27/2023 Maturity 12/3/2029 Industry Healthcare Technology Current Coupon 8.67% Basis Point Spread Above Index 3M SOFR+ 5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TMII Enterprises, LLC - Unfunded Revolver Acquisition 12/19/2022 Maturity 12/22/2028 Industry Commercial Services & Supplies2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt APT OPCO, LLC Acquisition 9/29/2025 Maturity 09/30/2031 Industry Healthcare Providers and Services Current Coupon 9.00% Basis Point Spread Above Index 3M SOFR+ 5002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Inventus Power, Inc. Acquisition 6/29/2023 Maturity 01/15/2026 Industry Electronic Equipment, Instruments, and Components Current Coupon 11.33% Basis Point Spread Above Index 3M SOFR+ 7612025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Urology Management Holdings, Inc. Acquisition 9/3/2024 Maturity 06/15/2027 Industry Healthcare Providers and Services Current Coupon 9.66% Basis Point Spread Above Index 1M SOFR+ 5502025-09-300001504619First Lien Secured Debt Issuer Name Medina Health, LLC Acquisition 11/6/2023 Maturity 10/20/2028 Industry Healthcare and Pharmaceuticals Current Coupon 9.92% Basis Point Spread Above Index SOFR+6252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt RTIC Subsidiary Holdings, LLC Acquisition 5/3/2024 Maturity 5/3/2029 Industry Leisure Products Current Coupon 9.75% Basis Point Spread Above Index 3M SOFR+ 5752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Case Works, LLC - Unfunded Revolver Acquisition 10/1/2024 Maturity 10/1/2029 Industry Professional Services2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Sigma Defense Systems, LLC Acquisition 11/18/2025 Maturity 12/20/2027 Industry Aerospace and Defense Current Coupon 10.62% Basis Point Spread Above Index SOFR+6902025-10-012025-12-310001504619First Lien Secured Debt Issuer Name PN Buyer, Inc. Acquisition 9/8/2025 Maturity 07/31/2031 Industry Professional Services Current Coupon 8.17% Basis Point Spread Above Index SOFR+4502025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Paving Lessor Corp. First Lien -Term Loan Acquisition 8/28/2025 Maturity 07/01/2031 Industry Business Services Current Coupon 8.94% Basis Point Spread Above Index SOFR+5252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Icon Partners V C, LP - Unfunded Common Equity Acquisition 12/20/2021 Industry Internet Software and Services2025-09-300001504619First Lien Secured Debt Issuer Name Kinetic Purchaser, LLC Acquisition 11/30/2021 Maturity 11/10/2027 Industry Personal Products Current Coupon 9.82% Basis Point Spread Above Index SOFR+6152025-10-012025-12-310001504619pflt:PennantParkSeniorSecuredLoanFundIILLCMemberpflt:InvestmentInSinglePortfolioCompanyMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Megawatt Acquisition Partners, LLC - Preferred Equity - Class A Acquisition 6/28/2024 Industry Electronic Equipment, Instruments, and Components2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt LAV Gear Holdings, Inc. Acquisition 7/31/2025 Maturity 07/31/2029 Industry Capital Equipment Current Coupon 9.65% Basis Point Spread Above Index 1M SOFR+ 5952025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Recteq, LLC - Unfunded Revolver Acquisition 1/27/2021 Maturity 01/29/2026 Industry Leisure Products2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants By Light Investco LP - Common Equity Acquisition 5/15/2017 Industry High Tech Industries2025-09-300001504619pflt:ProfessionalServicesMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants OceanSound Discovery Equity, LP - Common Equity Acquisition 3/28/2024 Industry Aerospace and Defense2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Archer Lewis, LLC - Unfunded Term Loan Acquisition 8/28/2024 Maturity 08/28/2026 Industry Healthcare Technology2025-12-310001504619pflt:ClassDSecuredDeferrableFloatingRateNotesMemberpflt:TwoThousandAndThirtyOneAssetBackedDebtMember2019-09-012019-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt NORA Acquisition, LLC - Funded Revolver Acquisition 8/22/2023 Maturity 08/31/2029 Industry Healthcare Providers and Services Current Coupon 10.02% Basis Point Spread Above Index 3M SOFR+ 6352025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants SBI Holdings Investments, LLC - Common Equity Acquisition 9/9/2025 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ACP Avenu Buyer, LLC Acquisition 10/2/2023 Maturity 10/02/2029 Industry IT Services Current Coupon 8.41% Basis Point Spread Above Index 3M SOFR+ 4752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Lucky Bucks, LLC - Last-Out Term Loan Acquisition 11/02/2023 Maturity 10/02/2029 Industry Hotels, Restaurants and Leisure Current Coupon 12.01% Basis Point Spread Above Index 1M SOFR+ 7652024-10-012025-09-300001504619pflt:FoodProductsMember2025-12-310001504619pflt:SubordinateDebtMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2025-12-310001504619Equity Securities Issuer Name White Tiger Newco, LLC - Common Equity Acquisition 7/31/2025 Industry Automobiles2025-09-300001504619First Lien Secured Debt Issuer Name Puget Collision, LLC Acquisition 10/3/2025 Maturity 10/02/2031 Industry Automobiles Current Coupon 8.42% Basis Point Spread Above Index SOFR+4752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Burgess Point Purchaser Corporation Acquisition 8/12/2024 Maturity 7/25/2029 Industry Auto Components Current Coupon 9.19% Basis Point Spread Above Index 3M SOFR+ 5352025-03-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Pacific Purchaser, LLC - Unfunded Revolver Acquisition 10/2/2023 Maturity 10/2/2028 Industry Professional Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Puget Collision, LLC Acquisition 10/3/2025 Maturity 10/03/2031 Industry Automobiles Current Coupon 8.43% Basis Point Spread Above Index 3M SOFR+ 4752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PCS MIDCO, Inc. Acquisition 3/1/2024 Maturity 3/1/2030 Industry Professional Services Current Coupon 9.75% Basis Point Spread Above Index 3M SOFR+ 5752024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Big Top Holdings, LLC Acquisition 6/26/2024 Maturity 3/1/2030 Industry Business Services Current Coupon 9.25% Basis Point Spread Above Index SOFR+5252024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Cartessa Aesthetics, LLC - Preferred Equity Acquisition 6/1/2022 Industry Distributors2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Symplr Software, Inc. Acquisition 8/27/2025 Maturity 12/20/2027 Industry Software Current Coupon 8.91% Basis Point Spread Above Index 3M SOFR+ 4602025-09-300001504619Equity Securities Issuer Name Output Services Group, Inc. - Common Equity Acquisition 12/1/2023 Industry Business Services2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Carisk Buyer, Inc. Acquisition 10/16/2024 Maturity 12/3/2029 Industry Healthcare Technology Current Coupon 9.00% Basis Point Spread Above Index SOFR+5002025-10-012025-12-310001504619Equity Securities Issuer Name Output Services Group, Inc. - Common Equity Acquisition 12/1/2023 Industry Business Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Big Top Holdings, LLC - Unfunded Revolver Acquisition 2/29/2024 Maturity 02/28/2030 Industry Construction & Engineering2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Beta Plus Technologies, Inc. Acquisition 7/21/2022 Maturity 7/2/2029 Industry Business Services Current Coupon 9.42% Basis Point Spread Above Index SOFR+5752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt RTIC Subsidiary Holdings, LLC - Funded Revolver Acquisition 5/3/2024 Maturity 5/3/2029 Industry Leisure Products Current Coupon 9.75% Basis Point Spread Above Index 3M SOFR+ 5752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants LJ Avalon, LP - Common Equity Acquisition 1/18/2023 Industry Construction & Engineering2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Emergency Care Partners, LLC Acquisition 11/11/2024 Maturity 10/18/2027 Industry Healthcare Providers and Services Current Coupon 9.00% Basis Point Spread Above Index SOFR+5002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Seaway Topco, LP - Common Equity Acquisition 6/8/2022 Industry Chemicals, Plastics and Rubber2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Schlesinger Global, Inc. - Unfunded Revolver Acquisition 10/24/2019 Maturity 10/24/2025 Industry Professional Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Argano, LLC Acquisition 9/13/2024 Maturity 09/13/2029 Industry Business Services Current Coupon 9.23% Basis Point Spread Above Index 3M SOFR+ 5502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Lightspeed Investment Holdco, LLC - Common Equity Acquisition 1/21/2020 Industry Healthcare Technology2025-10-012025-12-310001504619pflt:BlackrockLiquidityFedFundInstMember2025-09-300001504619pflt:TwoThousandAndThirtySevenAssetBackedDebtMemberpflt:ClassBNotesMember2025-02-280001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt AFC-Dell Holding Corp. Acquisition 2/22/2024 Maturity 04/09/2027 Industry Distributors Current Coupon 9.70% Basis Point Spread Above Index 3M SOFR+ 5502024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants RFMG Parent, LP - Common Equity Acquisition 5/1/2020 Industry Healthcare Equipment and Supplies2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt AFC-Dell Holding Corp. - Unfunded Revolver Acquisition 2/22/2024 Maturity 10/09/2028 Industry Distributors2025-10-012025-12-310001504619us-gaap:EquitySecuritiesMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Alpine Acquisition Corp II Acquisition 8/27/2025 Maturity 11/30/2026 Industry Containers and Packaging2025-12-310001504619First Lien Secured Debt Issuer Name Anteriad, LLC (f/k/a MeritDirect, LLC) Acquisition 4/10/2025 Maturity 6/30/2026 Industry Media: Advertising, Printing & Publishing Current Coupon 9.57% Basis Point Spread Above Index SOFR+5902025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Penta Group Holdings, Inc. - Funded Revolver Acquisition 7/31/2025 Maturity 7/31/2031 Industry Professional Services Current Coupon 8.50%2024-10-012025-09-300001504619us-gaap:FairValueInputsLevel2Memberpflt:TwoThousandThirtySevenAssetBackedDebtMember2025-12-310001504619First Lien Secured Debt Issuer Name Urology Management Holdings, Inc. Acquisition 4/11/2023 Maturity 6/15/2027 Industry Healthcare and Pharmaceuticals Current Coupon 9.66% Basis Point Spread Above Index SOFR+5502024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Schlesinger Global, Inc. Acquisition 9/30/2021 Maturity 10/24/2025 Industry Business Services Current Coupon 9.82% Basis Point Spread Above Index SOFR+6102025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Kinetic Purchaser, LLC - Unfunded Revolver Acquisition 11/08/2021 Maturity 11/10/2026 Industry Personal Products2025-09-300001504619us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputRevenueMultipleMemberpflt:ValuationTechniqueEnterpriseMarketValueMemberpflt:FirstLienMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Infinity Home Services Holdco, Inc. - Unfunded Term Loan Acquisition 12/21/2022 Maturity 10/30/2026 Industry Commercial Services & Supplies2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ledge Lounger, Inc. Acquisition 2/7/2022 Maturity 11/09/2026 Industry Leisure Products Current Coupon 11.32% (PIK 1.00%) Basis Point Spread Above Index 3M SOFR+ 7652025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Hancock Claims Consultants Investors, LLC - Common Equity Acquisition 12/23/2020 Industry Insurance2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants OES Co-Invest, LP - Common Equity - Class A Acquisition 5/31/2024 Industry Diversified Consumer Services2025-12-310001504619pflt:PennantparkSeniorSecuredLoanFundLlcPortfolioMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Big Top Holdings, LLC Acquisition 2/29/2024 Maturity 03/01/2030 Industry Construction & Engineering Current Coupon 8.92% Basis Point Spread Above Index 3M SOFR+ 5252025-12-310001504619pflt:TruistCreditFacilityMember2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Spendmend Holdings, LLC - Unfunded Term Loan Acquisition 3/1/2022 Maturity 11/25/2026 Industry Healthcare Technology2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Rancho Health MSO, Inc. Acquisition 11/18/2025 Maturity 6/20/2029 Industry Healthcare Providers & Services Current Coupon 8.99% Basis Point Spread Above Index SOFR+5002025-12-310001504619pflt:PennantparkSeniorSecuredLoanFundLlcPortfolioMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt BLC Holding Company, Inc. - Unfunded Revolver Acquisition 11/20/2024 Maturity 11/20/2030 Industry Business Services2024-10-012025-09-300001504619us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputEbitdaMultipleMemberpflt:ValuationTechniqueEnterpriseMarketValueMemberpflt:FirstLienMember2025-09-300001504619pflt:TwoThousandAndThirtySixAssetBackedDebtMemberpflt:ClassB1SeniorSecuredFloatingRateNotesDue2036Member2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants New Insight Holdings, Inc. Acquisition 7/15/2024 Industry Business Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Imagine Topco. LP - Preferred Equity Acquisition 11/4/2021 Industry Software Current Coupon 8.00%2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Crane 1 Services, Inc. Acquisition 4/11/2023 Maturity 08/16/2027 Industry Commercial Services & Supplies Current Coupon 9.08% Basis Point Spread Above Index SOFR+5362025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MAG DS Corp. Acquisition 9/21/2020 Maturity 4/01/2027 Industry Aerospace and Defense Current Coupon 9.60% Basis Point Spread Above Index 3M SOFR+ 5602024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity RTIC Parent Holdings, LLC - Preferred Equity - Class D Acquisition 5/3/2024 Industry Leisure Products2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Wash & Wax Systems, LLC - Funded Revolver Acquisition 4/30/2025 Maturity 04/30/2028 Industry Consumer Services Current Coupon 9.34% Basis Point Spread Above Index 3M SOFR+ 5502024-10-012024-12-310001504619First Lien Secured Debt Issuer Name Boss Industries, LLC Acquisition 11/18/2025 Maturity 12/27/2030 Industry Independent Power and Renewable Electricity Producers Current Coupon 8.71% Basis Point Spread Above Index SOFR+5002025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Inventus Power, Inc. Acquisition 7/11/2023 Maturity 01/15/2026 Industry Consumer Goods: Durable Current Coupon 11.33% Basis Point Spread Above Index SOFR+7612025-12-310001504619us-gaap:FairValueInputsLevel3Member2024-10-012024-12-310001504619pflt:MarketplaceEventsLLCMember2024-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MOREgroup Holdings, Inc. - Unfunded Revolver Acquisition 1/9/2024 Maturity 01/16/2030 Industry Construction & Engineering2025-09-300001504619First Lien Secured Debt Issuer Name Marketplace Events Acquisition, LLC Acquisition 1/13/2025 Maturity 12/19/2030 Industry Media Current Coupon 9.12% Basis Point Spread Above Index SOFR+5252025-12-310001504619First Lien Secured Debt Issuer Name Recteq, LLC Acquisition 2/24/2021 Maturity 1/29/2026 Industry Leisure Products Current Coupon 10.40% Basis Point Spread Above Index SOFR+6402024-10-012025-09-300001504619us-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TCG 3.0 Jogger Acquisitionco, Inc. - Funded Revolver Acquisition 1/23/2024 Maturity 01/23/2029 Industry Media Current Coupon 12.25% Basis Point Spread Above Index 3M SOFR+ 5502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt BLC Holding Company, Inc. - Unfunded Term Loan Acquisition 11/20/2024 Maturity 11/20/2026 Industry Business Services2025-03-310001504619First Lien Secured Debt Issuer Name ETE Intermediate II, LLC Acquisition 6/12/2023 Maturity 5/29/2029 Industry Diversified Consumer Services Current Coupon 9.16% Basis Point Spread Above Index SOFR+5002025-09-300001504619First Lien Secured Debt Issuer Name Walker Edison Furniture Company, LLC - Unfunded Term Loan Acquisition 8/29/2025 Maturity 03/01/2029 Industry Wholesale2025-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:FirstLienMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Blackhawk Industrial Distribution, Inc. - Unfunded Revolver Acquisition 6/27/2022 Maturity 9/17/2026 Industry Distributors2025-03-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Express Wash Acquisition Company, LLC Acquisition 4/10/2025 Maturity 4/10/2031 Industry Automobiles Current Coupon 10.18% Basis Point Spread Above Index 3M SOFR+ 6252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TransGo, LLC Acquisition 12/29/2023 Maturity 12/29/2028 Industry Auto Components Current Coupon 9.51% Basis Point Spread Above Index 3M SOFR+ 5752025-10-012025-12-310001504619Subordinate Debt Issuer Name Integrative Nutrition, LLC Acquisition 4/17/2025 Maturity 4/15/2030 Industry Diversified Consumer Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt Wash & Wax Systems, LLC - Subordinate Debt Acquisition 4/30/2025 Maturity 07/30/2028 Industry Consumer Services Current Coupon 12.00%2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Keel Platform, LLC - Unfunded Term Loan Acquisition 1/26/2024 Maturity 01/20/2031 Industry Metals and Mining2025-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:TwoThousandThirtySixRAssetBackedDebtMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Sabel InvestCo, LP. - Unfunded Common Equity Acquisition 10/31/2024 Industry Government Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Output Services Group, Inc. - Last-Out Term Loan Acquisition 12/1/2023 Maturity 05/30/2028 Industry Business Services Current Coupon 10.41% Basis Point Spread Above Index SOFR+6672025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Municipal Emergency Services, Inc. - Unfunded Revolver Acquisition 9/23/2021 Maturity 10/01/2027 Industry Distributors2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt LJ Avalon Holdings, LLC Acquisition 1/18/2023 Maturity 02/01/2030 Industry Construction & Engineering Current Coupon 8.67% Basis Point Spread Above Index 3M SOFR+ 4502024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Beacon Behavioral Support Services, LLC - Unfunded Revolver Acquisition 6/21/2024 Maturity 06/21/2029 Industry Healthcare Providers and Services2025-10-012025-12-310001504619us-gaap:EquitySecuritiesMember2025-09-300001504619Equity Securities Issuer Name 48Forty Intermediate Holdings, Inc. - Common Equity Acquisition 11/5/2024 Industry Containers and Packaging2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Ro Health Holdings, Inc. - Common Equity Acquisition 1/16/2025 Industry Healthcare Providers and Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name LAV Gear Holdings, Inc. - Priority TL Acquisition 7/31/2025 Maturity 07/31/2029 Industry Capital Equipment Current Coupon 9.65% Basis Point Spread Above Index SOFR+5942025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Systems Planning And Analysis, Inc. - Unfunded Term Loan Acquisition 10/12/2021 Maturity 6/12/2027 Industry Aerospace and Defense2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Icon Partners V C, LP - Common Equity Acquisition 12/20/2021 Industry Internet Software and Services2025-09-300001504619First Lien Secured Debt Issuer Name ACP Falcon Buyer, Inc. Acquisition 11/18/2025 Maturity 8/1/2029 Industry Internet Software and Services Current Coupon 9.49% Basis Point Spread Above Index SOFR+5502025-10-012025-12-310001504619us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberpflt:FirstLienMember2025-12-310001504619pflt:TwoThousandAndThirtySixAssetBackedDebtMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt First Medical MSO, LLC Acquisition 6/13/2025 Maturity 6/13/2031 Industry Healthcare Providers and Services Current Coupon 9.43% Basis Point Spread Above Index 3M SOFR+ 5752025-10-012025-12-310001504619pflt:TwoThousandThirtySixRAssetBackedDebtMember2025-09-300001504619First Lien Secured Debt Issuer Name CF512, Inc. Acquisition 12/27/2021 Maturity 8/20/2026 Industry Media Current Coupon 10.36% Basis Point Spread Above Index SOFR+6192025-09-300001504619First Lien Secured Debt Issuer Name APT OPCO, LLC Acquisition 9/29/2025 Maturity 9/30/2031 Industry Healthcare Providers and Services Current Coupon 8.67% Basis Point Spread Above Index SOFR+5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Loving Tan Intermediate II, Inc. - Unfunded Revolver Acquisition 5/24/2023 Maturity 05/31/2028 Industry Personal Products2025-09-300001504619us-gaap:RevolvingCreditFacilityMemberpflt:PennantParkSeniorSecuredLoanFundIILLCMember2025-11-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Systems Planning And Analysis, Inc. - Unfunded Revolver Acquisition 10/12/2021 Maturity 8/16/2027 Industry Aerospace and Defense2025-09-300001504619pflt:TwoThousandAndTwentySixNotesTwoMember2021-12-152021-12-150001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Help/Systems Holdings, Inc. Acquisition 8/27/2025 Maturity 11/30/2026 Industry Software Current Coupon 8.41% Basis Point Spread Above Index 3M SOFR+ 4102024-10-012025-09-300001504619First Lien Secured Debt Issuer Name TPC US Parent, LLC Acquisition 4/11/2023 Maturity 02/23/2026 Industry Consumer Goods: Non-Durable Current Coupon 9.89% Basis Point Spread Above Index SOFR+5902025-12-310001504619First Lien Secured Debt Issuer Name Omnia Exterior Solutions, LLC Acquisition 11/1/2024 Maturity 12/31/2029 Industry Diversified Consumer Services Current Coupon 9.26% Basis Point Spread Above Index SOFR+5252024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ACP Falcon Buyer, LLC - Unfunded Revolver Acquisition 7/26/2023 Maturity 08/01/2029 Industry Professional Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity AFC Acquisitions, Inc. Preferred Equity - Series H-2 Acquisition 12/7/2023 Industry Distributors2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Hancock Claims Consultants Investors, LLC - Common Equity Acquisition 12/23/2020 Industry Insurance2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Argano, LLC Acquisition 9/13/2024 Maturity 09/13/2029 Industry Business Services Current Coupon 9.89% Basis Point Spread Above Index 3M SOFR+ 5752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ORL Acquisition, Inc. Acquisitions 9/1/2021 Maturity 09/03/2027 Industry Consumer Finance Current Coupon 13.70% (PIK 7.50%) Basis Point Spread Above Index 3M SOFR+ 9402025-09-300001504619First Lien Secured Debt Issuer Name ETE Intermediate II, LLC Acquisition 6/12/2023 Maturity 05/29/2029 Industry Diversified Consumer Services Current Coupon 8.72% Basis Point Spread Above Index SOFR+5002025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Duggal Acquisition, LLC Acquisition 4/10/2025 Maturity 09/30/2030 Industry Marketing Services Current Coupon 8.42% Basis Point Spread Above Index SOFR+4752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt CJX Borrower, LLC - Funded Revolver Acquisition 7/8/2021 Maturity 7/13/2027 Industry Media Current Coupon 9.7% Basis Point Spread Above Index 3M SOFR+ 5762025-12-310001504619First Lien Secured Debt Issuer Name Pink Lily Holdco, LLC Acquisition 11/30/2021 Maturity 11/09/2027 Industry Textiles, Apparel and Luxury Goods2025-10-012025-12-310001504619pflt:TwoThousandThirtySixRAssetBackedDebtMemberus-gaap:FairValueInputsLevel1Member2025-09-300001504619pflt:ClassA1SeniorSecuredFloatingRateNotesDue2036Memberpflt:TwoThousandAndThirtySixAssetBackedDebtMember2024-02-290001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Dynata, LLC - Last Out Term Loan Acquisition 7/15/2024 Maturity 10/16/2028 Industry Business Services Current Coupon 9.64% Basis Point Spread Above Index 3M SOFR+ 5762025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt DRS Holdings III, Inc. Acquisition 10/29/2019 Maturity 11/03/2025 Industry Chemicals, Plastics and Rubber Current Coupon 9.41% Basis Point Spread Above Index 3M SOFR+ 5252025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Omnia Exterior Solutions, LLC - Unfunded Revolver Acquisition 12/29/2023 Maturity 12/31/2029 Industry Diversified Consumer Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Penta Group Holdings, Inc. - Common Equity Acquisition 7/31/2025 Industry Professional Services2025-12-310001504619pflt:TwoThousandAndThirtySixAssetBackedDebtMemberpflt:ClassA2SeniorSecuredFixedRateNotesDue2036Memberpflt:SecuredOvernightFinancingRateMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants GCP Boss Holdco, LLC Acquisition 12/27/2024 Industry Independent Power and Renewable Electricity Producers2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants SSC Dominion Holdings, LLC - Common Equity - Class B (US Dominion, Inc.) Acquisition 7/11/2018 Industry Capital Equipment2025-09-300001504619First Lien Secured Debt Issuer Name Ad.net Acquisition, LLC Acquisition 5/24/2021 Maturity 5/7/2026 Industry Media Current Coupon 9.93% Basis Point Spread Above Index SOFR+6262025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Kinetic Purchaser, LLC Acquisition 11/8/2021 Maturity 11/10/2027 Industry Personal Products Current Coupon 9.82% Basis Point Spread Above Index 3M SOFR+ 6152025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Azureon, LLC (F/K/A Tpcn Midco, LLC) Acquisition 4/10/2025 Maturity 6/26/2029 Industry Diversified Consumer Services Current Coupon 9.75% Basis Point Spread Above Index SOFR+5752024-10-012025-09-300001504619pflt:TwoThousandAndThirtyOneAssetBackedDebtMemberpflt:ClassDSecuredDeferrableFloatingRateLoansDue2031Member2019-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Pragmatic Holdco, Inc. - Common Equity Acquisition 3/28/2025 Industry Professional Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rural Sourcing Holdings, Inc. - Funded Revolver Acquisition 6/8/2023 Maturity 6/15/2029 Industry Professional Services Current Coupon 9.75% Basis Point Spread Above Index 3M SOFR+ 5752024-10-012025-09-300001504619pflt:CashAndCashEquivalentOneTwoOnePointFiveMember2025-09-300001504619Investments in Controlled, Affiliated Portfolio Companies First Lien Secured Debt PennantPark Senior Secured Loan Fund II, LLC Acquisition 11/18/2025 Maturity 11/18/2025 Industry Financial Services Current Coupon 11.89% Basis Point Spread Above Index 3M SOFR+ 8002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MDI Buyer, Inc. - Unfunded Revolver Acquisition 7/19/2022 Maturity 07/25/2028 Industry Commodity Chemicals2025-12-310001504619us-gaap:EquityMember2025-12-310001504619First Lien Secured Debt Issuer Name Blackhawk Industrial Distribution, Inc. Acquisition 6/30/2022 Maturity 9/17/2026 Industry Distributors Current Coupon 9.07% Basis Point Spread Above Index SOFR+5402025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Duggal Equity, LP - Common Equity Acquisition 9/30/2024 Industry Marketing Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Graffiti Buyer, Inc. - Unfunded Revolver Acquisition 8/9/2021 Maturity 8/10/2027 Industry Trading Companies & Distributors2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Anteriad Holdings, LP (f/k/a MeritDirect Holdings, LP) - Common Equity Acquisition 5/21/2019 Industry Media2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name LAV Gear Holdings, Inc. - Priority TL Acquisition 7/31/2025 Maturity 7/31/2029 Industry Capital Equipment Current Coupon 10.10% Basis Point Spread Above Index SOFR+5942025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Azureon, LLC (F/K/A Tpcn Midco, LLC) - Unfunded Revolver Acquisition 6/26/2024 Maturity 06/26/2029 Industry Diversified Consumer Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Impact Advisors, LLC Acquisition 3/21/2025 Maturity 03/19/2032 Industry Business Services Current Coupon 8.50% Basis Point Spread Above Index 3M SOFR+ 4502024-10-012025-09-300001504619pflt:HealthcareTechnologyMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt HW Holdco, LLC Acquisition 1/9/2019 Maturity 05/11/2026 Industry Media Current Coupon 9.90% Basis Point Spread Above Index 3M SOFR+ 5902024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt North American Rail Solutions, LLC Acquisitions 8/29/2025 Maturity 08/29/2031 Industry Manufacturing/Basic Industry Current Coupon 8.75% Basis Point Spread Above Index 3M SOFR+ 4752024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Rural Sourcing Holdings, Inc. Acquisition 9/6/2023 Maturity 6/15/2029 Industry High Tech Industries Current Coupon 9.92% Basis Point Spread Above Index SOFR+5752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Five Star Parent Holdings, LLC - Preferred (Class P) Acquisition 2/21/2023 Industry Hotels, Restaurants and Leisure2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt Integrative Nutrition, LLC - Promissory Note #1 Acquisition 4/17/2025 Maturity 04/15/2030 Industry Consumer Services2024-10-012024-12-310001504619First Lien Secured Debt Issuer Name Alpine Acquisition Corp II Acquisition 10/11/2022 Maturity 11/30/2026 Industry Containers and Packaging2025-09-300001504619First Lien Secured Debt Issuer Name By Light Professional IT Services, LLC Acquisition 8/28/2025 Maturity 7/15/2031 Industry High Tech Industries Current Coupon 9.22% Basis Point Spread Above Index SOFR+5502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Meadowlark Acquirer, LLC - Unfunded Revolver Acquisition 12/9/2021 Maturity 12/10/2027 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cartessa Aesthetics, LLC - Funded Revolver Acquisition 6/1/2022 Maturity 06/14/2028 Industry Distributors Current Coupon 10.00% Basis Point Spread Above Index 3M SOFR+ 6002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt First Medical MSO, LLC - Unfunded Term Loan Acquisition 06/13/2025 Maturity 06/13/2027 Industry Healthcare Providers and Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name CF512, Inc. Acquisition 12/27/2021 Maturity 08/20/2026 Industry Media Current Coupon 9.98% Basis Point Spread Above Index SOFR+6192025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Infolinks Media Buyco, LLC Acquisition 2/22/2024 Maturity 11/02/2026 Industry Media Current Coupon 9.42% Basis Point Spread Above Index 3M SOFR+ 5752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Athletico Holdings, LLC - Common Equity Acquisition 2/4/2022 Industry Healthcare Providers and Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Anteriad, LLC (f/k/a MeritDirect, LLC) - Funded Revolver Acquisition 5/21/2019 Maturity 06/30/2026 Industry Media Current Coupon 9.90% Basis Point Spread Above Index 3M SOFR+ 5902024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ad.net Acquisition, LLC - Unfunded Revolver Acquisition 5/4/2021 Maturity 05/07/2026 Industry Media2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Inventus Power, Inc. Acquisition 7/11/2023 Maturity 01/15/2026 Industry Consumer Goods: Durable Current Coupon 11.33% Basis Point Spread Above Index SOFR+7612025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Lash OpCo, LLC Acquisition 10/14/2021 Maturity 2/18/2027 Industry Personal Products Current Coupon 12.16% Basis Point Spread Above Index SOFR+7852024-10-012025-09-300001504619pflt:ControlledAffiliatedInvestmentsMember2025-12-310001504619pflt:TwoThousandThirtySixRAssetBackedDebtMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Schlesinger Global, Inc. - Funded Revolver Acquisition 10/24/2019 Maturity 03/31/2027 Industry Professional Services Current Coupon 9.82% (PIK 5.85%) Basis Point Spread Above Index 3M SOFR+ 6102025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Five Star Buyer, Inc. Acquisition 2/21/2023 Maturity 2/23/2028 Industry Hotels, Restaurants and Leisure Current Coupon 12.98% (PIK 1.00%) Basis Point Spread Above Index 3M SOFR+ 9152025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants GGG Topco, LLC Acquisition 9/27/2024 Industry Diversified Consumer Services2024-10-012025-09-300001504619pflt:TwoThousandAndThirtyOneAssetBackedDebtMember2019-09-012019-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Wash & Wax Systems, LLC - Funded Revolver Acquisition 4/30/2025 Maturity 04/30/2028 Industry Consumer Services Current Coupon 9.34% Basis Point Spread Above Index 3M SOFR+ 5502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Archer Lewis, LLC Acquisition 8/28/2024 Maturity 08/28/2029 Industry Healthcare Technology Current Coupon 9.42% Basis Point Spread Above Index 3M SOFR+ 5752025-12-310001504619First Lien Secured Debt Issuer Name Harris & Co, LLC Acquisition 11/26/2024 Maturity 8/9/2030 Industry Professional Services Current Coupon 9.16% Basis Point Spread Above Index SOFR+5002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt US Fertility Enterprises, LLC Acquisition 10/7/2024 Maturity Date 10/11/2031 Industry Healthcare Providers and Services Current Coupon 8.80% Basis Point Spread Above Index 1M SOFR+ 4502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Beacon Behavioral Support Services, LLC Acquisition 6/21/2024 Maturity 06/21/2029 Industry Healthcare Providers and Services Current Coupon 9.50% Basis Point Spread Above Index 3M SOFR+ 5502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Connatix Parent, LLC - Common Equity Acquisition 7/8/2021 Industry Media2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants White Tiger Newco, LLC - Common Equity Acquisition 7/31/2025 Industry Capital Equipment2025-09-300001504619pflt:TwoThousandTwentySixNotesPayableMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants GGG Topco, LLC Acquisition 9/27/2024 Industry Diversified Consumer Services2025-09-300001504619First Lien Secured Debt Issuer Name NORA Acquisition, LLC Acquisition 10/2/2023 Maturity 08/31/2029 Industry Healthcare Providers and Services Current Coupon 10.02% Basis Point Spread Above Index SOFR+6352025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sales Benchmark Index, LLC - Unfunded Revolver Acquisition 12/23/2019 Maturity 07/07/2026 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt IG Investments Holdings, LLC Acquisition 11/23/2021 Maturity 09/22/2028 Industry Professional Services Current Coupon 9.31% Basis Point Spread Above Index 3M SOFR+ 4502025-09-300001504619srt:MinimumMemberpflt:TruistCreditFacilityMember2025-11-012025-11-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Watchtower Buyer, LLC Acquisition 11/29/2023 Maturity 12/03/2029 Industry Electronic Equipment, Instruments, and Components Current Coupon 9.70% Basis Point Spread Above Index 3M SOFR+ 6002024-10-012024-12-310001504619pflt:FiveLargestInvestmentsMemberpflt:PennantParkSeniorSecuredLoanFundIILLCMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants UniVista Insurance - Common Equity Acquisition 6/14/2021 Industry Insurance2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity EvAL Home Health Solutions, LLC Acquisition 5/10/2024 Industry Healthcare, Education and Childcare2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt Integrative Nutrition, LLC - Promissory Note #1 Acquisition 4/17/2025 Maturity 04/15/2030 Industry Consumer Services2025-10-012025-12-310001504619us-gaap:FairValueInputsLevel2Memberpflt:FirstLienMember2025-09-300001504619pflt:CashSeventeenPointNinePercentOfNetAssetsMember2025-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:SecondLienSubordinatedDebtAndEquityInvestmentsMember2024-09-300001504619pflt:BusinessServicesMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Gauge ETE Blocker, LLC Acquisition 5/24/2023 Maturity 5/21/2029 Industry Diversified Consumer Services Current Coupon 12.56%2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Efficient Collaborative Retail Marketing Company, LLC Acquisition 10/23/2018 Maturity 09/30/2026 Industry Media: Diversified and Production Current Coupon 11.01% (PIK 3.75%) Basis Point Spread Above Index 3M SOFR+ 6752024-10-012025-09-300001504619First Lien Secured Debt Issuer Name ORL Acquisition, Inc. Acquisition 5/22/2025 Maturity 9/3/2027 Industry Consumer Finance Current Coupon 13.70% Basis Point Spread Above Index SOFR+9402025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt HW Holdco, LLC Acquisition 1/9/2019 Maturity 05/11/2026 Industry Media Current Coupon 9.90% Basis Point Spread Above Index 3M SOFR+ 5902025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MBS Holdings, Inc. - Unfunded Revolver Acquisition 4/14/2021 Maturity 04/16/2027 Industry Internet Software and Services2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name TPC US Parent, LLC Acquisition 4/11/2023 Maturity 11/24/2025 Industry Consumer Goods: Non-Durable Current Coupon 10.19% Basis Point Spread Above Index SOFR+5902024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Confluent Health, LLC Acquisition 3/25/2024 Maturity 11/30/2028 Industry Healthcare Providers and Services Current Coupon 8.28% Basis Point Spread Above Index 1M SOFR+ 4002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Aphix Topco, Inc. - Common Equity Acquisition 7/17/2025 Industry Business Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Meadowlark Title, LLC - Common Equity Acquisition 12/9/2021 Industry Professional Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name NORA Acquisition, LLC Acquisition 10/2/2023 Maturity 08/31/2029 Industry Healthcare Providers and Services Current Coupon 10.02% Basis Point Spread Above Index SOFR+6352025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants StellPen Holdings, LLC (CF512, Inc.) - Common Equity Acquisition 8/17/2021 Industry Media2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Capital Construction, LLC Acquisition 6/30/2025 Maturity 10/22/2026 Industry Consumer Services Current Coupon 10.20%2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Peninsula Pacific Entertainment, LLC - Unfunded Term Loan Acquisition 8/15/2025 Maturity 08/25/2027 Industry Gaming2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Pink Lilly Holdco, LLC Acquisition 11/5/2021 Maturity 11/9/2027 Industry Textiles, Apparel and Luxury Goods Current Coupon 4.35%2025-09-300001504619us-gaap:FairValueInputsLevel1Member2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt IG Investments Holdings, LLC - Unfunded Revolver Acquisition 11/23/2021 Maturity 9/22/2028 Industry Professional Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TCG 3.0 Jogger Acquisitionco, Inc. Acquisition 1/23/2024 Maturity 01/23/2029 Industry Media Current Coupon 10.17% Basis Point Spread Above Index 3M SOFR+ 6502025-12-310001504619pflt:TwoThousandAndThirtySixAssetBackedDebtMemberpflt:ClassCNotesMemberpflt:SecuredOvernightFinancingRateMember2025-02-012025-02-280001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Marketplace Events Acquisition, LLC Acquisition 12/19/2024 Maturity 12/19/2030 Industry Media Current Coupon 8.95% Basis Point Spread Above Index 3M SOFR+ 5252025-10-012025-12-310001504619Equity Securities Issuer Name White Tiger Newco, LLC - Common Equity Acquisition 7/31/2025 Industry Automobiles2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Peninsula Pacific Entertainment, LLC Acquisition 8/15/2025 Maturity 08/22/2032 Industry Gaming Current Coupon 8.42% Basis Point Spread Above Index 3M SOFR+ 4752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Crane 1 Services, Inc. - Unfunded Revolver Acquisition 8/11/2021 Maturity 08/16/2027 Industry Commercial Services & Supplies2025-09-300001504619pflt:ClassA-1NotesMemberpflt:PennantParkCLO12LLCMember2025-04-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Loving Tan Intermediate II, Inc. - Unfunded Revolver Acquisition 5/24/2023 Maturity 05/31/2028 Industry Personal Products2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Graffiti Buyer, Inc. Acquisition 8/9/2021 Maturity 8/10/2027 Industry Trading Companies & Distributors Current Coupon 9.29% Basis Point Spread Above Index 3M SOFR+ 5602025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TPC US Parent, LLC Acquisition 11/15/2019 Maturity 11/24/2025 Industry Food Products Current Coupon 10.19% Basis Point Spread Above Index 3M SOFR+ 5902025-09-300001504619us-gaap:FairValueInputsLevel3Memberpflt:ValuationTechniqueMarketComparableMemberpflt:MeasurementInputMarketYieldMembersrt:MinimumMemberpflt:FirstLienMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants ITC Infusion Co-invest, LP - Common Equity Acquisition 2/16/2022 Industry Healthcare Equipment and Supplies2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity UniTek Global Services, Inc. - Super Senior Preferred Equity Acquisition 1/13/2015 Industry Telecommunications Coupon 20.00%2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rancho Health MSO, Inc. - Unfunded Term Loan Acquisition 12/20/2024 Maturity 6/30/2026 Industry Healthcare Equipment and Supplies2025-09-300001504619pflt:PennantParkSeniorSecuredLoanFundIILLCMember2025-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:ValuationTechniqueMarketComparableMemberpflt:MeasurementInputMarketYieldMembersrt:MaximumMemberpflt:FirstLienMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants MDI Aggregator, LP - Common Equity Acquisition 7/19/2022 Industry Commodity Chemicals2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Burgess Point Purchaser Corporation Acquisition 8/12/2024 Maturity 7/25/2029 Industry Auto Components Current Coupon 9.19% Basis Point Spread Above Index 3M SOFR+ 5352025-12-310001504619pflt:TwoThousandAndThirtySixAssetBackedDebtMemberpflt:ClassA1SeniorSecuredFloatingRateLoansMember2024-02-290001504619First Lien Secured Debt Issuer Name C5MI Acquisition, LLC Acquisition 3/7/2025 Maturity 7/31/2029 Industry IT Services Current Coupon 10.00% Basis Point Spread Above Index SOFR+6002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sabel Systems Technology Solutions, LLC - Unfunded Revolver Acquisition 10/31/2024 Maturity 10/31/2030 Industry Government Services2024-10-012025-09-300001504619pflt:TotalInvestmentsMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Seacoast Service Partners, LLC - Common Equity Acquisition 10/31/2024 Industry Diversified Consumer Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Penta Group Holdings, Inc. - Funded Revolver Acquisition 7/31/2025 Maturity 7/31/2031 Industry Professional Services Current Coupon 8.50%2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt CJX Borrower, LLC - Funded Revolver Acquisition 7/8/2021 Maturity 07/13/2027 Industry Media Current Coupon 10.07% Basis Point Spread Above Index 3M SOFR+ 5762025-09-300001504619First Lien Secured Debt Issuer Name Spendmend Holdings, LLC Acquisition 4/11/2023 Maturity 3/1/2028 Industry Healthcare Technology Current Coupon 9.15% Basis Point Spread Above Index SOFR+5152025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Capital Construction, LLC Acquisition 6/30/2025 Maturity 10/22/2026 Industry Consumer Services Current Coupon 10.20%2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ACP Avenu Buyer, LLC Acquisition 10/2/2023 Maturity 10/02/2029 Industry IT Services Current Coupon 9.29% Basis Point Spread Above Index 3M SOFR+ 5002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carnegie Dartlet, LLC Acquisition 2/7/2024 Maturity 02/07/2030 Industry Professional Services Current Coupon 9.66% Basis Point Spread Above Index 3M SOFR+ 5502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TMII Enterprises, LLC - Unfunded Revolver Acquisition 12/19/2022 Maturity 12/22/2028 Industry Commercial Services & Supplies2025-09-300001504619pflt:ClassDRNotesMemberpflt:TwoThousandAndThirtyOneAssetBackedDebtMember2025-10-012025-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:LongTermCreditFacilityMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt RRA Corporate, LLC - Unfunded Revolver Acquisition 8/15/2024 Maturity 08/15/2029 Industry Diversified Consumer Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Medina Health, LLC Acquisition 10/16/2023 Maturity 10/20/2028 Industry Healthcare Providers and Services Current Coupon 10.31% Basis Point Spread Above Index 3M SOFR+ 6252025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Beacon Behavioral Support Services, LLC - Unfunded Revolver Acquisition 6/21/2024 Maturity 06/21/2029 Industry Healthcare Providers and Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants ITC Infusion Co-invest, LP - Common Equity Acquisition 2/16/2022 Industry Healthcare Equipment and Supplies2025-12-310001504619pflt:HighTechIndustriesMember2025-09-300001504619pflt:FiveLargestInvestmentsMemberpflt:PennantParkSeniorSecuredLoanFundILLCMember2025-12-3100015046192021-03-012021-03-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Keel Platform, LLC - Unfunded Term Loan Acquisition 1/26/2024 Maturity 01/20/2031 Industry Metals and Mining2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Blackhawk Industrial Distribution, Inc. Acquisition 6/27/2022 Maturity 9/17/2026 Industry Distributors Current Coupon 9.07% Basis Point Spread Above Index 3M SOFR+ 5402025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt North American Rail Solutions, LLC - Unfunded Term Loan Acquisitions 8/29/2025 Maturity 08/29/2027 Industry Manufacturing/Basic Industry2025-09-300001504619First Lien Secured Debt Issuer Name Case Works, LLC Acquisition 4/10/2025 Maturity 10/1/2029 Industry Professional Services Current Coupon 9.25% Basis Point Spread Above Index SOFR+5252025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt AFC-Dell Holding Corp. - Unfunded Term Loan Acquisition 2/22/2024 Maturity 04/09/2027 Industry Distributors2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TCG 3.0 Jogger Acquisitionco, Inc. - Unfunded Revolver Acquisition 1/23/2024 Maturity 01/23/2029 Industry Media2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Spendmend Holdings, LLC Acquisition 3/1/2022 Maturity 03/01/2028 Industry Healthcare Technology Current Coupon 8.87% Basis Point Spread Above Index 3M SOFR+ 5152025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Commercial Fire Protection Holdings, LLC Acquisition 9/23/2024 Maturity 09/23/2030 Industry Commercial Services & Supplies Current Coupon 8.50% Basis Point Spread Above Index 3M SOFR+ 4502024-10-012025-09-300001504619pflt:TwoThousandAndThirtySixRAssetBackedDebtMember2025-10-012025-12-310001504619pflt:JPMorganUSDollarLiquidityInstMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants OHCP V BC COI, LP - Common Equity Acquisition 12/13/2021 Industry Distributors2025-12-310001504619us-gaap:EquityMethodInvestmentsMemberus-gaap:FairValueInputsLevel1Member2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sath Industries, LLC - Unfunded Revolver Acquisition 12/17/2024 Maturity 12/17/2029 Industry Event Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Paving Lessor Corp. - Unfunded Revolver Acquisition 7/1/2025 Maturity 07/01/2031 Industry Business Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MBS Holdings, Inc. - Unfunded Revolver Acquisition 4/14/2021 Maturity 04/16/2027 Industry Internet Software and Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants RFMG Parent, LP - Common Equity Acquisition 5/1/2020 Industry Healthcare Equipment and Supplies2025-10-012025-12-310001504619pflt:AerospaceAndDefenseMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Magnolia Topco, LP - Preferred Equity - Class A-1 Acquisition 7/25/2023 Industry Automobiles2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Beacon Behavioral Support Services, LLC Acquisition 11/18/2025 Maturity 6/21/2029 Industry Healthcare Providers & Services Current Coupon 9.17% Basis Point Spread Above Index SOFR+5502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Arcfield Acquisition Corp. - Unfunded Revolver Acquisition 10/28/2024 Maturity 10/28/2031 Industry Aerospace and Defense2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt North American Rail Solutions, LLC - Unfunded Revolver Acquisition 8/29/2025 Maturity 08/29/2031 Industry Manufacturing/Basic Industry2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Harris & Co. LLC. - Unfunded Term Loan B Acquisition 8/9/2024 Maturity 2/9/2026 Industry Professional Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt Integrative Nutrition, LLC - Promissory Note #2 Acquisition 4/17/2025 Maturity 04/15/2033 Industry Consumer Services2025-10-012025-12-310001504619pflt:ClassA-2NotesMemberpflt:PennantParkCLO12LLCMember2025-04-012025-04-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt APT OPCO, LLC - Unfunded Term Loan Acquisition 9/29/2025 Maturity 09/30/2027 Industry Healthcare Providers and Services2025-09-300001504619pflt:SecondLienSecuredDebtMembersrt:MaximumMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants GMP Hills, LP - Common Equity Acquisition 11/2/2023 Industry Distributors2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TransGo, LLC - Unfunded Revolver Acquisition 12/29/2023 Maturity 12/29/2028 Industry Auto Components2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Aechelon Technology, Inc. Acquisition 8/16/2024 Maturity 08/16/2029 Industry Aerospace and Defense Current Coupon 9.48% Basis Point Spread Above Index 1M SOFR+ 5752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TCG 3.0 Jogger Acquisitionco, Inc. - Unfunded Revolver Acquisition 1/23/2024 Maturity 1/23/2029 Industry Media Current Coupon 9.56%2025-09-300001504619pflt:ClassB1SeniorSecuredFloatingRateNotesDue2031Memberpflt:TwoThousandAndThirtyOneAssetBackedDebtMember2025-10-012025-12-310001504619pflt:PennantParkSeniorSecuredLoanFundIILLCMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TransGo, LLC - Unfunded Revolver Acquisition 12/29/2023 Maturity 12/29/2028 Industry Auto Components2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt NBH Group, LLC Acquisition 8/29/2025 Maturity 08/19/2026 Industry Healthcare Equipment and Supplies Current Coupon 10.12% Basis Point Spread Above Index 1M SOFR+ 5852024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Safe Haven Defense US, LLC Acquisition 5/23/2024 Maturity 5/23/2029 Industry Building Products Current Coupon 9.50% Basis Point Spread Above Index 3M SOFR+ 5252025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Gauge Schlesinger Coinvest, LLC - Preferred Equity Acquisition 4/22/2020 Industry Professional Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TMII Enterprises, LLC Acquisition 12/19/2022 Maturity 12/22/2028 Industry Commercial Services & Supplies Current Coupon 8.66% Basis Point Spread Above Index 3M SOFR+ 4502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Case Works, LLC - Unfunded Revolver Acquisition 10/1/2024 Maturity 10/01/2029 Industry Professional Services2024-10-012025-09-300001504619pflt:TwoThousandThirtySixRAssetBackedDebtMemberus-gaap:FairValueInputsLevel1Member2025-12-310001504619First Lien Secured Debt Issuer Name Argano, LLC Acquisition 1/9/2025 Maturity 9/13/2029 Industry Business Services Current Coupon 9.22% Basis Point Spread Above Index SOFR+5502025-12-310001504619First Lien Secured Debt Issuer Name Inovex Information Systems Incorporated Acquisition 3/3/2025 Maturity 12/17/2030 Industry Software Current Coupon 8.92% Basis Point Spread Above Index SOFR+5252025-12-310001504619pflt:RTwoThousandAndThirtySixAssetBackedDebtMember2024-07-250001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt RRA Corporate, LLC - Funded Revolver Acquisition 8/15/2024 Maturity 08/15/2029 Industry Diversified Consumer Services Current Coupon 8.92% Basis Point Spread Above Index 3M SOFR+ 5252025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Podean Buyer, LLC Acquisition 8/4/2025 Maturity 08/29/2031 Industry Marketing Services Current Coupon 9.66% Basis Point Spread Above Index SOFR+6002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity SP L2 Holdings, LLC - Preferred Equity Acquisition 11/4/2021 Industry Leisure Products2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt North American Rail Solutions, LLC - Unfunded Revolver Acquisitions 8/29/2025 Maturity 08/29/2031 Industry Manufacturing/Basic Industry2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Gauge Lash Coinvest, LLC - Common Equity Acquisition 12/4/2019 Industry Personal Products2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt NORA Acquisition, LLC - Funded Revolver Acquisition 8/22/2023 Maturity 08/31/2029 Industry Healthcare Providers and Services Current Coupon 10.35% Basis Point Spread Above Index 3M SOFR+ 6352025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt APT OPCO, LLC - Unfunded Term Loan Acquisition 9/29/2025 Maturity 09/30/2027 Industry Healthcare Providers and Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants New Medina Health, LLC - Common Equity Acquisition 10/16/2023 Industry Healthcare Providers and Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Best Practice Associates, LLC Acquisition 11/7/2024 Maturity 11/08/2029 Industry Aerospace and Defense Current Coupon 10.52% Basis Point Spread Above Index 3M SOFR+ 6752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants PCS Parent, LP Acquisition 3/1/2024 Industry Professional Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Smile Brands, Inc. - Unfunded Revolver - LC Acquisition 10/4/2018 Maturity 10/12/2027 Industry Healthcare and Pharmaceuticals2025-12-310001504619pflt:PennantParkCLOVILLCMemberpflt:ClassLoansB-RMember2025-05-310001504619pflt:CashAndCashEquivalentMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Omnia Exterior Solutions, LLC - Funded Revolver Acquisition 12/29/2023 Maturity 12/31/2029 Industry Diversified Consumer Services Current Coupon 8.97% Basis Point Spread Above Index 1M SOFR+ 5252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants ACP Big Top Holdings, LP - Common Equity Acquisition 2/29/2024 Industry Construction & Engineering2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Pink Lily Holdco, LLC - Common Equity Acquisition 6/16/2017 Industry Textiles, Apparel and Luxury Goods2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Aphix Topco, Inc. - Common Equity Acquisition 7/17/2025 Industry Business Services2024-10-012025-09-300001504619Investments in Controlled, Affiliated Portfolio Companies Equity Interests PennantPark Senior Secured Loan Fund I LLC - Common Equity Acquisition 6/16/2017 Industry Financial Services2025-09-300001504619First Lien Secured Debt Issuer Name NBH Group, LLC Acquisition 8/25/2021 Maturity 8/19/2026 Industry Healthcare, Education & Childcare Current Coupon 10.12% Basis Point Spread Above Index SOFR+5852024-10-012025-09-300001504619First Lien Secured Debt Issuer Name By Light Professional IT Services, LLC Acquisition 8/28/2025 Maturity 7/15/2031 Industry High Tech Industries Current Coupon 9.22% Basis Point Spread Above Index SOFR+5502025-12-310001504619pflt:SeniorSecuredRevolvingCreditFacilityMemberpflt:PennantParkSeniorSecuredLoanFundILLCMember2024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rural Sourcing Holdings, Inc. - Funded Revolver Acquisition 6/8/2023 Maturity 6/15/2029 Industry Professional Services Current Coupon 9.75% Basis Point Spread Above Index 3M SOFR+ 5752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Ironclad Holdco, LLC - Common Equity Acquisition 12/23/2020 Industry Commercial Services & Supplies2025-12-310001504619First Lien Secured Debt Issuer Name The Vertex Companies, LLC Acquisition 11/18/2025 Maturity 8/31/2028 Industry Construction and Engineering Current Coupon 8.82% Basis Point Spread Above Index SOFR+5102025-12-310001504619pflt:CashThirtyPointTwoPercentOfNetAssetsMemberpflt:PennantParkSeniorSecuredLoanFundIILLCMemberus-gaap:CashMember2025-12-310001504619vInvestments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ad.net Acquisition, LLC - Funded Revolver Acquisition 5/4/2021 Maturity 05/07/2026 Industry Media Current Coupon 10.26% Basis Point Spread Above Index 3M SOFR+ 6262025-09-300001504619pflt:NonMoneyMarketMember2025-09-300001504619First Lien Secured Debt Issuer Name Recteq, LLC Acquisition 2/24/2021 Maturity 01/29/2026 Industry Leisure Products Current Coupon 10.07% Basis Point Spread Above Index SOFR+6402025-10-012025-12-310001504619pflt:OtherRelatedPartyMember2024-10-012024-12-310001504619pflt:HealthcareTechnologyMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Compex Legal Services, Inc. Acquisition 1/27/2020 Maturity 02/07/2026 Industry Professional Services Current Coupon 9.55% Basis Point Spread Above Index 3M SOFR+ 5552025-09-300001504619pflt:EquityDistributionAgreementsMemberpflt:AtTheMarketOfferingMember2024-07-172024-07-170001504619pflt:CommonEquityWarrantsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt NORA Acquisition, LLC - Unfunded Revolver Acquisitions 8/22/2023 Maturity 08/31/2029 Industry Healthcare Providers and Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt DRS Holdings III, Inc. Acquisition 10/29/2019 Maturity 11/1/2028 Industry Chemicals, Plastics and Rubber Current Coupon 8.97% Basis Point Spread Above Index 3M SOFR+ 5252025-10-012025-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:LongTermCreditFacilityMember2024-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity RTIC Parent Holdings, LLC - Preferred Equity - Class A Acquisition 5/3/2024 Industry Leisure Products2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Systems Planning And Analysis, Inc. Acquisition 3/15/2022 Maturity 08/16/2027 Industry Aerospace and Defense Current Coupon 8.42% Basis Point Spread Above Index SOFR+4752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Wash & Wax Systems, LLC - Unfunded Revolver Acquisition 4/30/2025 Maturity 04/30/2028 Industry Consumer Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name EDS Buyer, LLC Acquisition 11/18/2025 Maturity 1/10/2029 Industry Aerospace and Defense Current Coupon 8.17% Basis Point Spread Above Index SOFR+4502025-12-310001504619First Lien Secured Debt Issuer Name Rancho Health MSO, Inc. Acquisition 4/11/2023 Maturity 6/20/2029 Industry Healthcare Providers and Services Current Coupon 9.29% Basis Point Spread Above Index SOFR+5002024-10-012025-09-300001504619First Lien Secured Debt Issuer Name OSP Embedded Purchaser, LLC Acquisition 11/18/2025 Maturity 12/17/2029 Industry Aerospace and Defense Current Coupon 9.42% Basis Point Spread Above Index SOFR+5752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Ironclad Holdco, LLC - Common Equity Acquisition 12/23/2020 Industry Commercial Services & Supplies2024-10-012025-09-300001504619Investments in Controlled, Affiliated Portfolio Companies First Lien Secured Debt PennantPark Senior Secured Loan Fund I, LLC Acquisition 8/10/2020 Maturity 05/07/2029 Industry Financial Services Current Coupon 12.29% Basis Point Spread Above Index 3M SOFR+ 8002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Schlesinger Global, Inc. Acquisitions 10/24/2019 Maturity 10/24/2025 Industry Professional Services Current Coupon 12.76% (PIK 5.85%) Basis Point Spread Above Index 3M SOFR+ 8602024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Halo Buyer, Inc. Acquisition 5/22/2025 Maturity 08/07/2029 Industry Consumer Products Current Coupon 9.72% Basis Point Spread Above Index SOFR+6002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Output Services Group, Inc. - Last-out Term Loan Acquisition 11/30/2023 Maturity 5/30/2028 Industry Business Services Current Coupon 10.96% Basis Point Spread Above Index 3M SOFR+ 6682025-09-300001504619First Lien Secured Debt Issuer Name ACP Avenu Buyer, LLC Acquisition 11/19/2025 Maturity 10/2/2029 Industry IT Services Current Coupon 8.74% Basis Point Spread Above Index SOFR+4752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Accounting Platform Holdings, Inc. - Preferred Equity - Series A Acquisition 8/9/2024 Industry Professional Services2024-10-012025-09-300001504619pflt:ClassA1LBFloatingRateMemberpflt:TwoThousandAndThirtySevenAssetBackedDebtMember2025-02-280001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants BioDerm Holdings, LP - Common Equity Acquisition 1/30/2023 Industry Healthcare Equipment and Supplies2025-10-012025-12-310001504619us-gaap:EquityMethodInvestmentsMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity AFC Acquisitions, Inc. Preferred Equity - Series H-2 Acquisition 12/7/2023 Industry Distributors2025-12-310001504619us-gaap:GovernmentMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sales Benchmark Index, LLC Acquisition 12/23/2019 Maturity 07/07/2026 Industry Professional Services Current Coupon 9.87% Basis Point Spread Above Index 3M SOFR+ 6202025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants OSP Embedded Aggregator, LP - Common Equity Acquisition 12/11/2023 Industry Aerospace and Defense2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sales Benchmark Index, LLC Acquisition 12/23/2019 Maturity 07/07/2026 Industry Professional Services Current Coupon 9.87% Basis Point Spread Above Index 3M SOFR+ 6202025-10-012025-12-310001504619pflt:TwoThousandAndTwentySixNotesTwoMember2025-12-3100015046192026-02-090001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Wash & Wax Systems, LLC - Funded Revolver Acquisition 4/30/2025 Maturity 04/30/2028 Industry Consumer Services Current Coupon 9.81% Basis Point Spread Above Index 3M SOFR+ 5502024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Hancock Roofing And Construction, LLC Acquisition 1/27/2021 Maturity 12/31/2026 Industry Insurance Current Coupon 9.60% Basis Point Spread Above Index SOFR+5502024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt The Vertex Companies, LLC Acquisition 8/25/2021 Maturity 08/31/2028 Industry Construction & Engineering Current Coupon 8.82% Basis Point Spread Above Index 1M SOFR+ 5102025-12-310001504619Investments in Controlled, Affiliated Portfolio Companies First Lien Secured Debt PennantPark Senior Secured Loan Fund I, LLC Acquisition 8/10/2020 Maturity 05/07/2029 Industry Financial Services Current Coupon 11.88% Basis Point Spread Above Index 3M SOFR+ 8002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Megawatt Acquisitionco, Inc. - Unfunded Revolver Acquisition 3/1/2024 Maturity 03/01/2030 Industry Electronic Equipment, Instruments, and Components2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Magnolia Topco, LP - Common Equity - Class B Acquisition 7/25/2023 Industry Automobiles2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Argano, LLC Acquisition 1/9/2025 Maturity 9/13/2029 Industry Business Services Current Coupon 9.22% Basis Point Spread Above Index SOFR+5502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt APT OPCO, LLC - Unfunded Revolver Acquisition 9/29/2025 Maturity 09/30/2031 Industry Healthcare Providers and Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Smile Brands, Inc. Acquisition 10/4/2018 Maturity 10/12/2027 Industry Healthcare and Pharmaceuticals Current Coupon 9.77% (PIK 1.50%) Basis Point Spread Above Index 1M SOFR+ 6102025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Paving Lessor Corp. - Unfunded Revolver Acquisition 7/1/2025 Maturity 7/1/2031 Industry Business Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cartessa Aesthetics, LLC Acquisition 6/1/2022 Maturity 6/14/2028 Industry Distributors Current Coupon 9.67% Basis Point Spread Above Index 3M SOFR+ 6002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Gauge ETE Blocker, LLC - Common Equity Acquisition 5/24/2023 Industry Diversified Consumer Services2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Pacific Purchaser, LLC Acquisition 1/12/2024 Maturity 10/2/2028 Industry Business Services Current Coupon 10.42% Basis Point Spread Above Index SOFR+6252025-09-300001504619pflt:ClassA1LAFloatingRateMemberpflt:TwoThousandAndThirtySevenAssetBackedDebtMember2025-02-280001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Hancock Claims Consultants Investors, LLC - Preferred Equity Acquisition 12/23/2020 Industry Insurance2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Watchtower Buyer, LLC - Funded Revolver Acquisition 11/29/2023 Maturity 12/03/2029 Industry Electronic Equipment, Instruments, and Components Current Coupon 9.69% Basis Point Spread Above Index 3M SOFR+ 6002025-12-310001504619us-gaap:FairValueInputsLevel3Memberus-gaap:EquityMethodInvestmentsMemberus-gaap:MeasurementInputEbitdaMultipleMemberpflt:ValuationTechniqueEnterpriseMarketValueMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Hills Distribution, Inc. Acquisition 11/2/2023 Maturity 11/8/2029 Industry Distributors Current Coupon 9.19% Basis Point Spread Above Index 1M SOFR+ 5502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Dynata, LLC - Last Out Term Loan Acquisition 7/15/2024 Maturity 10/16/2028 Industry Business Services Current Coupon 9.96% Basis Point Spread Above Index 3M SOFR+ 5762025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Omnia Exterior Solutions, LLC - Unfunded Term Loan Acquisition 12/29/2023 Maturity 09/30/2026 Industry Diversified Consumer Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt LJ Avalon Holdings, LLC - Unfunded Term Loan Acquisition 1/18/2023 Maturity 02/08/2027 Industry Construction & Engineering2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Beacon Behavioral Support Services, LLC Acquisition 10/9/2024 Maturity 6/21/2029 Industry Healthcare and Pharmaceuticals Current Coupon 9.50% Basis Point Spread Above Index SOFR+5502024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Impact Advisors, LLC Acquisition 3/21/2025 Maturity 03/19/2032 Industry Business Services Current Coupon 8.17% Basis Point Spread Above Index 3M SOFR+ 4502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Case Works, LLC - Unfunded Revolver Acquisition 10/1/2024 Maturity 10/01/2029 Industry Professional Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity TWD Parent Holdings, LLC - Preferred Equity Acquisition 8/25/2021 Industry Construction & Engineering2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt NBH Group, LLC - Unfunded Revolver Maturity 08/19/2026 Industry Healthcare Equipment and Supplies2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name RRA Corporate, LLC Acquisition 4/10/2025 Maturity 08/15/2029 Industry Diversified Consumer Services Current Coupon 8.92% Basis Point Spread Above Index SOFR+5252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Connatix Parent, LLC Acquisition 7/8/2021 Industry Media2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Pacific Purchaser, LLC Acquisition 10/2/2023 Maturity 10/2/2028 Industry Professional Services Current Coupon 10.42% Basis Point Spread Above Index 3M SOFR+ 6252025-09-300001504619First Lien Secured Debt Issuer Name Municipal Emergency Services, Inc. Acquisition 4/11/2023 Maturity 10/1/2027 Industry Distributors Current Coupon 9.15% Basis Point Spread Above Index SOFR+5152025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Gauge Schlesinger Coinvest, LLC - Common Equity Acquisition 4/22/2020 Industry Professional Services2025-09-300001504619First Lien Secured Debt Issuer Name Ad.net Acquisition, LLC Acquisition 5/24/2021 Maturity 5/7/2026 Industry Media Current Coupon 9.93% Basis Point Spread Above Index SOFR+6262025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Spendmend Holdings, LLC Acquisition 3/1/2022 Maturity 03/01/2028 Industry Healthcare Technology Current Coupon 8.87% Basis Point Spread Above Index 3M SOFR+ 5152025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Infinity Home Services Holdco, Inc. (CAD) Acquisition 12/21/2022 Maturity 12/28/2028 Industry Commercial Services & Supplies Current Coupon 10.00% Basis Point Spread Above Index 3M SOFR+ 6002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cf512, Inc. - Unfunded Revolver Acquisition 8/17/2021 Maturity 08/20/2026 Industry Media2024-10-012025-09-300001504619us-gaap:FairValueInputsLevel3Memberpflt:SecondLienSubordinatedDebtAndEquityInvestmentsMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt Schlesinger Global, LLC - Promissory Note Acquisition 2/21/2024 Maturity 01/8/2026 Industry Professional Services Current Coupon 12.76% Basis Point Spread Above Index 3M SOFR+8602024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TCG 3.0 Jogger Acquisitionco, Inc. Acquisition 1/23/2024 Maturity 1/23/2029 Industry Media Current Coupon 10.52% Basis Point Spread Above Index 3M SOFR+ 6502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt SV-Aero Holdings, LLC Acquisition 10/31/2024 Maturity 11/1/2030 Industry Aerospace and Defense Current Coupon 9.00% Basis Point Spread Above Index 3M SOFR+ 5002024-10-012025-09-300001504619pflt:ClassDRNotesMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants QuantiTech InvestCo, LP - Common Equity Acquisition 12/31/2024 Industry Aerospace and Defense2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Boss Industries, LLC Acquisition 11/18/2025 Maturity 12/27/2030 Industry Independent Power and Renewable Electricity Producers Current Coupon 8.71% Basis Point Spread Above Index SOFR+5002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Azureon, LLC (F/K/A Tpcn Midco, LLC) - Funded Revolver Acquisition 6/26/2024 Maturity 06/26/2029 Industry Diversified Consumer Services Current Coupon 9.44% Basis Point Spread Above Index 3M SOFR+ 5752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants EDS Topco, LP - Common Equity Acquisition 12/19/2022 Industry Electronic Equipment, Instruments, and Components2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Halo Buyer, Inc. - Unfunded Revolver Acquisition 2/7/2025 Maturity 8/7/2029 Industry Consumer products2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt CJX Borrower, LLC - Unfunded Revolver Acquisition 7/8/2021 Maturity 7/13/2027 Industry Media2025-12-310001504619First Lien Secured Debt Issuer Name Boss Industries, LLC Acquisition 4/10/2025 Maturity 12/27/2030 Industry Independent Power and Renewable Electricity Producers Current Coupon 8.67% Basis Point Spread Above Index SOFR+5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Crane 1 Services, Inc. - Unfunded Revolver Acquisition 8/11/2021 Maturity 8/16/2027 Industry Commercial Services & Supplies2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt GGG Midco, LLC Acquisition 9/27/2024 Maturity 9/27/2030 Industry Diversified Consumer Services Current Coupon 8.67% Basis Point Spread Above Index 3M SOFR+ 5002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants OHCP V BC COI, LP - Unfunded Common Equity Acquisition 12/13/2021 Industry Distributors2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Penta Group Holdings, Inc. - Funded Revolver Acquisition 7/31/2025 Maturity 07/31/2031 Industry Professional Services Current Coupon 8.17% Basis Point Spread Above Index 3M SOFR+ 4502025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Commercial Fire Protection Holdings, LLC Acquisition 11/26/2024 Maturity 9/23/2030 Industry Commercial Services & Supplies Current Coupon 8.50% Basis Point Spread Above Index SOFR+4502024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Commercial Fire Protection Holdings, LLC - Unfunded Revolver Acquisition 9/23/2024 Maturity 09/23/2026 Industry Commercial Services & Supplies2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt LJ Avalon Holdings, LLC - Unfunded Revolver Acquisition 1/18/2023 Maturity 02/01/2029 Industry Construction & Engineering2024-10-012025-09-300001504619srt:MaximumMemberpflt:IncentiveFeePaymentConditionTwoMember2025-10-012025-12-310001504619pflt:TwoThousandAndThirtySevenAssetBackedDebtMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Pink Lilly Holdco, LLC - Funded Revolver Acquisition 11/5/2021 Maturity 11/9/2027 Industry Textiles, Apparel and Luxury Goods Current Coupon 4.27%2025-09-300001504619pflt:OtherRelatedPartyMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants TWD Parent Holdings, LLC - Common Equity Acquisition 8/25/2021 Industry Construction & Engineering2025-09-300001504619pflt:ControlledAffiliatedInvestmentsMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PCS MIDCO, Inc. - Unfunded Term Loan Acquisition 3/1/2024 Maturity 3/2/2026 Industry Professional Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Crane 1 Services, Inc. Acquisition 11/18/2005 Maturity 8/16/2027 Industry Commercial Services & Supplies Current Coupon 9.08% Basis Point Spread Above Index SOFR+5362025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants A1 Garage Equity, LLC - Common Equity Acquisition 12/19/2022 Industry Commercial Services & Supplies2025-10-012025-12-310001504619pflt:GoldmanSachsFinancialSquareGovernmentFundOneMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sabel Systems Technology Solutions, LLC - Funded Revolver Acquisition 10/31/2024 Maturity 10/31/2030 Industry Government Services Current Coupon 12.75% Basis Point Spread Above Index 3M SOFR+ 5252025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants SSC Dominion Holdings, LLC - Common Equity - Class B (US Dominion, Inc.) Acquisition 7/11/2018 Industry Capital Equipment2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Tower Arch Infolinks Media, LP - Common Equity Acquisition 10/27/2021 Industry Media2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Case Works, LLC - Funded Revolver Acquisition 10/1/2024 Maturity 10/1/2029 Industry Professional Services Current Coupon 8.92% Basis Point Spread Above Index 3M SOFR+ 5252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Azureon, LLC (F/K/A Tpcn Midco, LLC) - Funded Revolver Acquisition 6/26/2024 Maturity 06/26/2029 Industry Diversified Consumer Services Current Coupon 9.75% Basis Point Spread Above Index 3M SOFR+ 5752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sigma Defense Systems, LLC - Unfunded Revolver Acquisition 11/30/2021 Maturity 12/20/2027 Industry IT Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants ORL Holdco, Inc. - Common Equity Acquisition 9/1/2021 Industry Consumer Finance2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Magnolia Topco, LP - Preferred Equity - Class A Acquisition 7/25/2023 Industry Automobiles2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Riverpoint Medical, LLC Acquisition 6/19/2019 Maturity 06/21/2027 Industry Healthcare Equipment and Supplies Current Coupon 8.17% Basis Point Spread Above Index 3M SOFR+ 4502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants WCP Ivyrehab Coinvestment, LP - Common Equity Acquisition 6/27/2022 Industry Healthcare Providers and Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Project Granite Buyer, Inc. - Unfunded Term Loan Acquisition 12/31/2024 Maturity 12/31/2026 Industry Professional Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Blackhawk Industrial Distribution, Inc. - Funded Revolver Acquisition 6/27/2022 Maturity 09/17/2026 Industry Distributors Current Coupon 9.40% Basis Point Spread Above Index 3M SOFR+ 5402025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Pacific Purchaser, LLC Acquisition 10/2/2023 Maturity 10/02/2028 Industry Professional Services Current Coupon 9.85% Basis Point Spread Above Index 3M SOFR+ 6252025-12-310001504619First Lien Secured Debt Issuer Name Archer Lewis, LLC Acquisition 11/22/2024 Maturity 8/28/2029 Industry Commercial Services & Supplies Current Coupon 9.42% Basis Point Spread Above Index SOFR+5752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt NBH Group, LLC Acquisition 8/29/2025 Maturity 08/19/2026 Industry Healthcare Equipment and Supplies Current Coupon 9.71% Basis Point Spread Above Index 1M SOFR+ 5852025-10-012025-12-310001504619pflt:CashEquivalentsSevenPointSixPercentOfNetAssetsMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt OSP Embedded Purchaser, LLC Acquisition 12/11/2023 Maturity 12/17/2029 Industry Aerospace and Defense Current Coupon 9.77% Basis Point Spread Above Index 3M SOFR+ 5752025-09-300001504619pflt:MarketplaceEventsLLCMember2024-12-310001504619pflt:TruistCreditFacilityMember2025-10-012025-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:ValuationTechniqueMarketComparableMemberpflt:MeasurementInputMarketYieldMemberus-gaap:SubordinatedDebtMembersrt:MaximumMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants C5MI Holdco, LLC - Common Equity Acquisition 7/31/2024 Industry IT Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Carnegie HoldCo, LLC Acquisition 2/7/2024 Industry Professional Services2024-10-012025-09-300001504619pflt:SecondLienSecuredDebtMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Bioderm, Inc. Acquisition 8/27/2025 Maturity 01/31/2028 Industry Healthcare Equipment and Supplies Current Coupon 10.77% Basis Point Spread Above Index 1M SOFR+ 6502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Spendmend Holdings, LLC Acquisition 3/1/2022 Maturity 03/01/2028 Industry Healthcare Technology Current Coupon 9.15% Basis Point Spread Above Index 3M SOFR+ 5152024-10-012025-09-300001504619pflt:FirstLienSecuredDebtMembersrt:MinimumMember2025-10-012025-12-310001504619us-gaap:CashAndCashEquivalentsMemberpflt:PennantParkSeniorSecuredLoanFundIILLCMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Megawatt Acquisition Partners, LLC - Common Equity - Class A Acquisition 6/28/2024 Industry Electronic Equipment, Instruments, and Components2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Five Star Parent Holdings, LLC - Common Equity Acquisition 2/21/2023 Industry Hotels, Restaurants and Leisure2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity AFC Acquisitions, Inc. Preferred Equity - Series J-2 Acquisition 12/7/2023 Industry Distributors2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Hancock Claims Consultants Investors, LLC - Preferred Equity Acquisition 12/23/2020 Industry Insurance2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Five Star Buyer, Inc. Acquisition 2/21/2023 Maturity 2/23/2028 Industry Hotels, Restaurants and Leisure Current Coupon 12.98% (PIK 1.00%) Basis Point Spread Above Index 3M SOFR+ 9152025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Case Works, LLC Acquisition 10/1/2024 Maturity 10/01/2029 Industry Professional Services Current Coupon 9.25% Basis Point Spread Above Index 3M SOFR+ 5252025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Bioderm, Inc. Acquisition 8/27/2025 Maturity 01/31/2028 Industry Healthcare Equipment and Supplies Current Coupon 10.77% Basis Point Spread Above Index 1M SOFR+ 6502024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Rosco Parent, LLC Acquisition 9/9/2025 Maturity 08/29/2031 Industry Business Services Current Coupon 8.42% Basis Point Spread Above Index SOFR+4752025-12-310001504619First Lien Secured Debt Issuer Name Output Services Group, Inc. - Last-Out Term Loan Acquisition 12/1/2023 Maturity 05/30/2028 Industry Business Services Current Coupon 10.41% Basis Point Spread Above Index SOFR+6672025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Podean Intermediate II, LLC - Common Equity Acquisition 11/18/2025 Industry Marketing Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt First Medical MSO, LLC - Unfunded Revolver Acquisition 6/13/2025 Maturity 6/13/2031 Industry Healthcare Providers and Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Ad.Net Holdings, Inc. - Preferred Equity Acquisition 5/4/2021 Industry Media2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Meadowlark Title, LLC - Common Equity Acquisition 12/9/2021 Industry Professional Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Imagine Topco. LP - Common Equity Acquisition 11/4/2021 Industry Software2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt The Vertex Companies, LLC Acquisition 8/25/2021 Maturity Date 8/31/2028 Industry Construction & Engineering Current Coupon 9.01% Basis Point Spread Above Index 1M SOFR+ 4952025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Aphix Topco, Inc. - Common Equity Acquisition 7/17/2025 Industry Business Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Podean Buyer, LLC - Unfunded Revolver Acquisition 8/4/2025 Maturity 08/04/2031 Industry Marketing Services2025-12-310001504619pflt:TwoThousandAndThirtyOneAssetBackedDebtMember2019-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt BLC Holding Company, Inc. Acquisition 11/20/2024 Maturity 11/20/2030 Industry Business Services Current Coupon 8.2% Basis Point Spread Above Index 3M SOFR+ 4502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt AFC-Dell Holding Corp. Acquisition 2/22/2024 Maturity 04/09/2027 Industry Distributors Current Coupon 8.84% Basis Point Spread Above Index 3M SOFR+ 5002025-12-310001504619pflt:FirstLienInPSSLMember2025-12-310001504619First Lien Secured Debt Issuer Name Dynata, LLC - First Out Term Loan Acquisition 7/15/2024 Maturity 07/17/2028 Industry Diversified Consumer Services Current Coupon 9.14% Basis Point Spread Above Index SOFR+5762025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Accounting Platform Holdings, Inc. - Preferred Equity - Series A Acquisition 8/9/2024 Industry Professional Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants NXOF Holdings, Inc. - Common Equity Acquisition 9/25/2018 Industry IT Services2025-12-310001504619First Lien Secured Debt Issuer Name Project Granite Buyer, Inc. Acquisition 5/22/2025 Maturity 12/31/2030 Industry Professional Services Current Coupon 9.42% Basis Point Spread Above Index SOFR+5752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt NBH Group, LLC Acquisition 8/29/2025 Maturity 08/19/2026 Industry Healthcare Equipment and Supplies Current Coupon 9.71% Basis Point Spread Above Index 1M SOFR+ 5852025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PCS MIDCO, Inc. - Unfunded Revolver Acquisition 3/1/2024 Maturity 3/1/2030 Industry Professional Services2024-10-012025-09-300001504619pflt:LongTermCreditFacilityMember2024-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Paving Lessor Corp. - Unfunded Term Loan Acquisition 7/1/2025 Maturity 7/1/2027 Industry Business Services2025-09-300001504619pflt:FirstLienInPSSLIIMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants SP L2 Holdings, LLC - Common Equity Acquisition 11/4/2021 Industry Leisure Products2024-10-012025-09-300001504619pflt:DiversifiedConsumerServicesMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Recteq, LLC - Unfunded Revolver Acquisition 1/27/2021 Maturity 01/29/2026 Industry Leisure Products2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Walker Edison Furniture Company, LLC - New Money DIP Acquisition 8/29/2025 Maturity 03/01/2029 Industry Wholesale Current Coupon 10.00%2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PAR Excellence Holdings, Inc. Acquisition 9/3/2024 Maturity 09/03/2030 Industry Healthcare Technology Current Coupon 8.74% Basis Point Spread Above Index 3M SOFR+ 5002025-10-012025-12-310001504619pflt:TwoThousandAndThirtySixAssetBackedDebtMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Output Services Group, Inc. - Common Equity Acquisition 11/30/2023 Industry Business Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Megawatt Acquisitionco, Inc. Acquisition 3/1/2024 Maturity 03/01/2030 Industry Electronic Equipment, Instruments, and Components Current Coupon 9.50% Basis Point Spread Above Index 3M SOFR+ 5502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sigma Defense Systems, LLC - Unfunded Revolver Acquisition 11/30/2021 Maturity 12/20/2027 Industry IT Services2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Sales Benchmark Index, LLC Acquisition 1/27/2021 Maturity 7/7/2026 Industry Professional Services Current Coupon 10.20% Basis Point Spread Above Index SOFR+6202025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity AFC Acquisitions, Inc. Preferred Equity - Series J-2 Acquisition 12/7/2023 Industry Distributors2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Omnia Exterior Solutions, LLC - Unfunded Term Loan Acquisition 12/29/2023 Maturity 09/30/2026 Industry Diversified Consumer Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Exigo Intermediate II, LLC - Unfunded Revolver Acquisition 3/10/2022 Maturity 3/15/2027 Industry Software2025-10-012025-12-310001504619pflt:SeniorSecuredRevolvingCreditFacilityMember2024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants EDS Topco, LP - Common Equity Acquisition 12/19/2022 Industry Electronic Equipment, Instruments, and Components2025-12-310001504619First Lien Secured Debt Issuer Name STG Distribution, LLC - First Out New Money Term Loans Acquisition 10/24/2024 Maturity 10/3/2029 Industry Air Freight and Logistics Current Coupon 12.57% Basis Point Spread Above Index SOFR+8352024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants GMP Hills, LP - Common Equity Acquisition 11/2/2023 Industry Distributors2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Seacoast Service Partners NA, LLC - Funded Revolver Acquisition 12/20/2024 Maturity 12/20/2029 Industry Diversified Consumer Services Current Coupon 8.92% Basis Point Spread Above Index 3M SOFR+ 5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Spendmend Holdings, LLC - Funded Revolver Acquisition 3/1/2022 Maturity 03/01/2028 Industry Healthcare Technology Current Coupon 8.82% Basis Point Spread Above Index 3M SOFR+ 5152025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Megawatt Acquisitionco, Inc. Acquisition 3/1/2024 Maturity 03/01/2030 Industry Electronic Equipment, Instruments, and Components Current Coupon 9.50% Basis Point Spread Above Index 3M SOFR+ 5502024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Sigma Defense Systems, LLC Acquisition 12/27/2021 Maturity 12/20/2027 Industry Aerospace and Defense Current Coupon 10.62% Basis Point Spread Above Index SOFR+6902025-10-012025-12-310001504619us-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberus-gaap:EquityMethodInvestmentsMemberus-gaap:MeasurementInputEbitdaMultipleMemberpflt:ValuationTechniqueEnterpriseMarketValueMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants WCP Ivyrehab Coinvestment, LP - Unfunded Common Equity Acquisition 6/27/2022 Industry Healthcare Providers and Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt LAV Gear Holdings, Inc. - Incremental TL Acquisition 7/31/2025 Maturity 07/31/2029 Industry Capital Equipment Current Coupon 9.65% Basis Point Spread Above Index 1M SOFR+ 5942025-12-310001504619pflt:EquityInterestsInPSSLIIMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Wash & Wax Systems, LLC - Unfunded Revolver Acquisition 4/30/2025 Maturity 04/30/2028 Industry Consumer Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Boss Industries, LLC Acquisition 12/27/2024 Maturity 12/27/2030 Industry Independent Power and Renewable Electricity Producers Current Coupon 9.00% Basis Point Spread Above Index 3M SOFR+ 5002024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Boss Industries, LLC Acquisition 4/10/2025 Maturity 12/27/2030 Industry Independent Power and Renewable Electricity Producers Current Coupon 9.00% Basis Point Spread Above Index SOFR+5002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Tyto Athene, LLC Acquisition 3/26/2021 Maturity 04/03/2028 Industry IT Services Current Coupon 9.19% Basis Point Spread Above Index 3M SOFR+ 4902024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt GGG Midco, LLC - Unfunded Term Loan Acquisition 9/27/2024 Maturity 9/27/2030 Industry Diversified Consumer Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Pacific Purchaser, LLC - Unfunded Revolver Acquisition 10/2/2023 Maturity 10/2/2028 Industry Professional Services2025-09-300001504619us-gaap:FairValueInputsLevel3Memberpflt:SecondLienMemberus-gaap:MeasurementInputEbitdaMultipleMemberpflt:ValuationTechniqueEnterpriseMarketValueMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ORL Acquisition, Inc. - Unfunded Revolver Acquisition 9/1/2021 Maturity 9/3/2027 Industry Consumer Finance2024-10-012025-09-300001504619pflt:NonMoneyMarketFundMember2025-09-300001504619us-gaap:MoneyMarketFundsMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Megawatt Acquisitionco, Inc. - Unfunded Revolver Acquisition 3/1/2024 Maturity 03/01/2030 Industry Electronic Equipment, Instruments, and Components2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt RRA Corporate, LLC Acquisition 8/15/2024 Maturity 8/15/2029 Industry Diversified Consumer Services Current Coupon 9.00% Basis Point Spread Above Index 3M SOFR+ 5002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt StoicLane, Inc. - Unfunded Convertible Notes Acquisition 8/15/2024 Maturity 8/16/2027 Industry Healthcare Technology2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Kinetic Purchaser, LLC - Funded Revolver Acquisition 11/8/2021 Maturity 11/10/2026 Industry Personal Products Current Coupon 9.82% Basis Point Spread Above Index 3M SOFR+ 6152025-12-310001504619First Lien Secured Debt Issuer Name AFC-Dell Holding Corp. Acquisition 12/23/2024 Maturity 4/9/2027 Industry Distributors Current Coupon 8.84% Basis Point Spread Above Index SOFR+5502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Tyto Athene, LLC Acquisition 3/26/2021 Maturity 04/03/2028 Industry IT Services Current Coupon 9.19% Basis Point Spread Above Index 3M SOFR+ 4902025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rancho Health MSO, Inc. - Unfunded Revolver Acquisition 12/20/2024 Maturity 06/20/2029 Industry Healthcare Equipment and Supplies2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants OceanSound Discovery Equity, LP - Common Equity Acquisition 3/28/2024 Industry Aerospace and Defense2025-12-310001504619pflt:RTwoThousandAndThirtySixAssetBackedDebtMember2025-12-310001504619pflt:DistributorsMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Impact Advisors, LLC Acquisition 3/21/2025 Maturity 03/19/2032 Industry Business Services Current Coupon 8.17% Basis Point Spread Above Index 3M SOFR+ 4502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Dynata, LLC - Last Out Term Loan Acquisition 7/15/2024 Maturity 10/16/2028 Industry Business Services Current Coupon 9.64% Basis Point Spread Above Index 3M SOFR+ 5762025-10-012025-12-310001504619pflt:ClassBRNotesMemberpflt:RTwoThousandAndThirtySixAssetBackedDebtMember2024-07-250001504619pflt:TwoThousandTwentySixNotesPayableMember2021-03-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MOREgroup Holdings, Inc. Acquisition 1/9/2024 Maturity 01/16/2030 Industry Construction & Engineering Current Coupon 9.31% Basis Point Spread Above Index 3M SOFR+ 5252025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Hancock Claims Consultants Investors, LLC - Common Equity Acquisition 12/23/2020 Industry Insurance2025-10-012025-12-310001504619pflt:BuildingProductsMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Seacoast Service Partners NA, LLC Acquisition 12/20/2024 Maturity 12/20/2029 Industry Diversified Consumer Services Current Coupon 9.01% Basis Point Spread Above Index 3M SOFR+ 5002024-10-012025-09-300001504619pflt:ClassDRNotesMemberpflt:RTwoThousandAndThirtySixAssetBackedDebtMember2024-07-250001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sath Industries, LLC Acquisition 12/17/2024 Maturity 12/17/2029 Industry Event Services Current Coupon 9.54% Basis Point Spread Above Index 3M SOFR+ 5502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Icon Partners V C, LP - Common Equity Acquisition 12/20/2021 Industry Internet Software and Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cornerstone Advisors of Arizona, LLC - Unfunded Revolver Acquisition 5/13/2025 Maturity 5/13/2032 Industry Consulting Services2025-12-310001504619First Lien Secured Debt Issuer Name The Vertex Companies, LLC Acquisition 4/11/2023 Maturity 8/31/2028 Industry Construction and Engineering Current Coupon 8.93% Basis Point Spread Above Index SOFR+4752025-09-300001504619First Lien Secured Debt Issuer Name Carnegie Dartlet, LLC Acquisition 4/11/2025 Maturity 2/7/2030 Industry Media: Advertising, Printing & Publishing Current Coupon 9.66% Basis Point Spread Above Index SOFR+5502024-10-012025-09-300001504619srt:MinimumMemberpflt:IncentiveFeePaymentConditionTwoMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Case Works, LLC - Funded Revolver Acquisition 10/1/2024 Maturity 10/01/2029 Industry Professional Services Current Coupon 9.25% Basis Point Spread Above Index 3M SOFR+ 5252025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Pacific Purchaser, LLC - Unfunded Revolver Acquisition 10/2/2023 Maturity 10/02/2028 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PCS MIDCO, Inc. - Unfunded Revolver Acquisition 3/1/2024 Maturity 3/1/2030 Industry Professional Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Pragmatic Institute, LLC Acquisition 3/28/2025 Maturity 03/28/2030 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Aphix Buyer, Inc. Acquisition 7/17/2025 Maturity 07/17/2031 Industry Business Services Current Coupon 8.48% Basis Point Spread Above Index 3M SOFR+ 4752025-10-012025-12-310001504619pflt:TwoThousandTwentySixNotesPayableMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Aftermarket Drivetrain Products Holdings, LLC - Common Equity Acquisition 12/29/2023 Industry Auto Components2025-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:LongTermCreditFacilityMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Puget Collision, LLC - Unfunded Revolver Acquisition 10/3/2025 Maturity 10/03/2031 Industry Automobiles2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Safe Haven Defense US, LLC - Funded Revolver Acquisition 5/23/2024 Maturity 05/23/2029 Industry Building Products Current Coupon 11.25% Basis Point Spread Above Index 3M SOFR+ 4502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TPC US Parent, LLC Acquisition 11/15/2019 Maturity 11/24/2025 Industry Food Products Current Coupon 10.19% Basis Point Spread Above Index 3M SOFR+ 5902024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Imagine Acquisitionco, Inc. - Unfunded Revolver Acquisition 11/4/2021 Maturity 11/16/2027 Industry Software2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt The Vertex Companies, LLC - Unfunded Revolver Acquisition 8/25/2021 Maturity 08/31/2028 Industry Construction & Engineering2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rancho Health MSO, Inc. - Unfunded Revolver Acquisition 12/20/2024 Maturity 06/20/2029 Industry Healthcare Equipment and Supplies2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Sath Industries, LLC Acquisition 4/10/2025 Maturity 12/17/2029 Industry Event Services Current Coupon 9.66% Basis Point Spread Above Index SOFR+5502025-09-300001504619us-gaap:FairValueInputsLevel3Memberpflt:SecondLienSubordinatedDebtAndEquityInvestmentsMember2024-10-012024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt RRA Corporate, LLC - Unfunded Term Loan Acquisition 8/15/2024 Maturity 08/17/2026 Industry Diversified Consumer Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Delta InvestCo, LP - Common Equity Acquisition 12/16/2020 Industry IT Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants FedHC InvestCo, LP - Common Equity Acquisition 8/26/2021 Industry Aerospace and Defense2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Best Practice Associates, LLC Acquisition 4/10/2025 Maturity 11/8/2029 Industry Aerospace and Defense Current Coupon 10.47% Basis Point Spread Above Index SOFR+6752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Best Practice Associates, LLC Acquisition 11/7/2024 Maturity 11/08/2029 Industry Aerospace and Defense Current Coupon 10.91% Basis Point Spread Above Index 3M SOFR+ 6752024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Beacon Behavioral Support Services, LLC Acquisition 10/9/2024 Maturity 6/21/2029 Industry Healthcare and Pharmaceuticals Current Coupon 9.50% Basis Point Spread Above Index SOFR+5502025-09-300001504619First Lien Secured Debt Issuer Name PAR Excellence Holdings, Inc. Acquisition 10/16/2024 Maturity 09/03/2030 Industry Healthcare Technology Current Coupon 8.77% Basis Point Spread Above Index SOFR+5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Seaway Buyer, LLC Acquisition 7/25/2024 Maturity 06/13/2029 Industry Chemicals, Plastics and Rubber Current Coupon 9.88% Basis Point Spread Above Index 3M SOFR+ 6152025-10-012025-12-310001504619us-gaap:InvestmentUnaffiliatedIssuerMemberpflt:FirstLienSecuredDebtMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Inventus Power, Inc. - Unfunded Revolver Acquisition 6/29/2023 Maturity 01/15/2026 Industry Electronic Equipment, Instruments, and Components2025-09-3000015046192024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Blackhawk Industrial Distribution, Inc. - Unfunded Revolver Acquisition 6/27/2022 Maturity 9/17/2026 Industry Distributors2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Spendmend Holdings, LLC Acquisition 4/11/2023 Maturity 03/01/2028 Industry Healthcare Technology Current Coupon 9.15% Basis Point Spread Above Index SOFR+5152025-10-012025-12-310001504619pflt:AtTheMarketOfferingMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt EDS Buyer, LLC Acquisition 12/19/2022 Maturity 01/10/2029 Industry Electronic Equipment, Instruments, and Components Current Coupon 8.75% Basis Point Spread Above Index 3M SOFR+ 4752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Output Services Group, Inc. - First-out Term Loan Acquisition 11/30/2023 Maturity 11/30/2028 Industry Business Services Current Coupon 12.71% Basis Point Spread Above Index 3M SOFR+ 8432025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cartessa Aesthetics, LLC Acquisition 6/1/2022 Maturity 6/14/2028 Industry Distributors Current Coupon 9.67% Basis Point Spread Above Index 3M SOFR+ 6002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Burgess Point Purchaser Corporation Acquisition 8/12/2024 Maturity 07/25/2029 Industry Auto Components Current Coupon 9.51% Basis Point Spread Above Index 3M SOFR+ 5352024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt RRA Corporate, LLC Acquisition 8/15/2024 Maturity 08/15/2029 Industry Diversified Consumer Services Current Coupon 8.94% Basis Point Spread Above Index 3M SOFR+ 5252025-10-012025-12-3100015046192025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Lightspeed Buyer, Inc. Acquisition 1/27/2021 Maturity 2/3/2027 Industry Healthcare Providers and Services Current Coupon 8.75% Basis Point Spread Above Index SOFR+4752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Hancock Roofing and Construction, LLC Acquisition 12/23/2020 Maturity 12/31/2026 Industry Insurance Current Coupon 9.27% Basis Point Spread Above Index 3M SOFR+ 5602025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity AFC Acquisitions, Inc. Preferred Equity - Series F-2 Acquisition 12/7/2023 Industry Distributors2025-10-012025-12-310001504619pflt:ClassA-1LoansMemberpflt:PennantParkCLO12LLCMember2025-04-300001504619us-gaap:FairValueInputsLevel3Memberpflt:ValuationTechniqueMarketComparableMemberpflt:MeasurementInputMarketYieldMemberus-gaap:SubordinatedDebtMember2025-12-310001504619us-gaap:FairValueInputsLevel2Memberpflt:TwoThousandAndThirtySixAssetBackedDebtMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Meadowlark Acquirer, LLC- Funded Revolver Acquisition 12/9/2021 Maturity 12/10/2027 Industry Professional Services Current Coupon 9.65% Basis Point Spread Above Index 3M SOFR+ 5652024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity BioDerm Holdings, LP - Preferred Equity Acquisition 1/30/2023 Industry Healthcare Equipment and Supplies2025-12-310001504619pflt:PennantParkCLOIILtdMember2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Wash & Wax Systems LLC Acquisition 4/30/2025 Maturity 04/30/2028 Industry Automobiles Current Coupon 9.34% Basis Point Spread Above Index SOFR+5502025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Municipal Emergency Services, Inc. Acquisition 11/19/2025 Maturity 10/1/2027 Industry Distributors Current Coupon 8.42%Basis Point Spread Above Index SOFR+4752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Medina Health, LLC - Unfunded Revolver Acquisition 10/16/2023 Maturity 10/20/2028 Industry Healthcare Providers and Services2025-09-300001504619pflt:FirstLienSecuredDebtMemberpflt:PennantParkSeniorSecuredLoanFundILLCMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ACP Falcon Buyer, LLC - Unfunded Revolver Acquisition 7/26/2023 Maturity 08/01/2029 Industry Professional Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants KL Stockton Co-Invest, LP - Common Equity Acquisition 7/16/2021 Industry Energy Equipment and Services2025-09-300001504619pflt:TwoThousandAndThirtySixAssetBackedDebtMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rural Sourcing Holdings, Inc. Acquisition 6/8/2023 Maturity 06/15/2029 Industry Professional Services Current Coupon 9.42% Basis Point Spread Above Index 3M SOFR+ 5752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Infinity Home Services Holdco, Inc. Acquisition 12/21/2022 Maturity 12/28/2028 Industry Commercial Services & Supplies Current Coupon 10.00% Basis Point Spread Above Index 3M SOFR+ 6002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Omnia Exterior Solutions, LLC - Unfunded Term Loan Acquisitions 12/29/2023 Maturity 09/30/2026 Industry Diversified Consumer Services2025-09-300001504619First Lien Secured Debt Issuer Name Inovex Information Systems Incorporated Acquisition 3/3/2025 Maturity 12/17/2030 Industry Software Current Coupon 9.25% Basis Point Spread Above Index SOFR+5252024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Lash OpCo, LLC - Unfunded Revolver Acquisition 8/16/2021 Maturity 08/16/2026 Industry Personal Products2024-10-012025-09-300001504619pflt:EquityInterestsMemberpflt:PennantParkSeniorSecuredLoanFundILLCMember2025-09-300001504619First Lien Secured Debt Issuer Name Case Works, LLC Acquisition 4/10/2025 Maturity 10/1/2029 Industry Professional Services Current Coupon 9.25% Basis Point Spread Above Index SOFR+5252024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Pacific Purchaser, LLC - Unfunded Revolver Acquisition 10/2/2023 Maturity 10/02/2028 Industry Professional Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ledge Lounger, Inc. - Funded Revolver Acquisition 2/07/2022 Maturity 11/09/2026 Industry Leisure Products Current Coupon 11.65% (PIK 1.00%) Basis Point Spread Above Index 3M SOFR+ 7652025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Output Services Group, Inc. - Common Equity Acquisition 11/30/2023 Industry Business Services2025-12-310001504619pflt:ClassA2NotesMemberpflt:TwoThousandAndThirtySevenAssetBackedDebtMemberpflt:SecuredOvernightFinancingRateMember2025-02-012025-02-280001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Aechelon Technology, Inc. - Unfunded Revolver Acquisition 8/16/2024 Maturity 08/16/2029 Industry Aerospace and Defense2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Kentucky Racing Holdco, LLC - Warrants Acquisition 4/16/2019 Industry Hotels, Restaurants and Leisure2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name ACP Avenu Buyer, LLC Acquisition 10/6/2023 Maturity 10/2/2029 Industry Business Services Current Coupon 9.29% Basis Point Spread Above Index SOFR+5002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Blackhawk Industrial Distribution, Inc. - Unfunded Revolver Acquisition 6/27/2022 Maturity 09/17/2026 Industry Distributors2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Duggal Acquisition, LLC - Unfunded Term Loan Acquisition 9/30/2024 Maturity 09/30/2026 Industry Marketing Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Hills Distribution, Inc. Acquisition 5/3/2024 Maturity 11/8/2029 Industry Business Services Current Coupon 10.32% Basis Point Spread Above Index SOFR+6002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ro Health, LLC Acquisition 1/16/2025 Maturity 1/17/2031 Industry Healthcare Providers and Services Current Coupon 8.50% Basis Point Spread Above Index 3M SOFR+ 4502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Aphix Topco, Inc. - Common Equity Acquisition 7/17/2025 Industry Business Services2025-12-310001504619pflt:TwoThousandTwentySixNotesPayableMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2025-12-310001504619First Lien Secured Debt Issuer Name TMII Enterprises, LLC Acquisition 4/11/2023 Maturity 12/22/2028 Industry Commercial Services & Supplies Current Coupon 8.66% Basis Point Spread Above Index SOFR+4502024-10-012025-09-300001504619pflt:FirstLienMember2025-09-300001504619First Lien Secured Debt Issuer Name Schlesinger Global, Inc. Acquisition 9/30/2021 Maturity 10/24/2025 Industry Business Services Current Coupon 12.76% Basis Point Spread Above Index SOFR+8602024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Icon Partners V C, LP - Unfunded Common Equity Acquisition 12/20/2021 Industry Internet Software and Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Aftermarket Drivetrain Products Holdings, LLC - Common Equity Acquisition 12/29/2023 Industry Auto Components2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Spendmend Holdings, LLC Acquisition 4/11/2023 Maturity 03/01/2028 Industry Healthcare Technology Current Coupon 9.15% Basis Point Spread Above Index SOFR+5152025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants NEPRT Parent Holdings, LLC - Common Equity Acquisition 1/27/2021 Industry Leisure Products2025-12-310001504619First Lien Secured Debt Issuer Name CJX Borrower, LLC Acquisition 7/29/2021 Maturity 07/13/2027 Industry Media Current Coupon 9.70% Basis Point Spread Above Index SOFR+5762025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Exigo Intermediate II, LLC Acquisition 11/21/2022 Maturity 3/15/2027 Industry Software Current Coupon 10.51% Basis Point Spread Above Index SOFR+6352024-10-012025-09-300001504619pflt:ClassC2SecuredDeferrableFixedRateNotesDue2031Memberpflt:TwoThousandAndThirtyOneAssetBackedDebtMember2019-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt ORL Holdco, Inc. - Convertible Notes Acquisition 8/2/2024 Maturity 03/08/2028 Industry Consumer Finance Current Coupon 18.00%2025-12-310001504619us-gaap:CashAndCashEquivalentsMember2025-09-300001504619pflt:TwoThousandThirtySevenRAsset-BackedDebtMemberpflt:PennantParkSeniorSecuredLoanFundILLCMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ledge Lounger, Inc. Acquisition 02/07/2022 Maturity 11/09/2026 Industry Leisure Products Current Coupon 11.65% (PIK 1.00%) Basis Point Spread Above Index 3M SOFR+ 7652025-09-300001504619First Lien Secured Debt Issuer Name NBH Group, LLC Acquisition 8/25/2021 Maturity 08/19/2026 Industry Healthcare, Education & Childcare Current Coupon 9.71% Basis Point Spread Above Index SOFR+5852025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt RRA Corporate, LLC - Unfunded Revolver Acquisition 8/15/2024 Maturity 8/15/2029 Industry Diversified Consumer Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity SP L2 Holdings, LLC - Unfunded Preferred Equity Acquisition 11/4/2021 Industry Leisure Products2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants TWD Parent Holdings, LLC - Common Equity Acquisition 10/27/2021 Industry Construction & Engineering2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants ITC Infusion Co-invest, LP - Common Equity Acquisition 2/16/2022 Industry Healthcare Equipment and Supplies2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Halo Buyer, Inc. Acquisition 02/07/2025 Maturity 08/07/2029 Industry Consumer products Current Coupon 10.16% Basis Point Spread Above Index 1M SOFR+ 6002025-09-300001504619pflt:NonControlledAffiliatedInvestmentsMembersrt:MinimumMember2025-10-012025-12-310001504619pflt:GoldmanSachsFinancialSquareGovernmentFundMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Azureon, LLC (F/K/A Tpcn Midco, LLC) Acquisition 6/26/2024 Maturity 06/26/2029 Industry Diversified Consumer Services Current Coupon 9.75% Basis Point Spread Above Index 3M SOFR+ 5752025-09-300001504619pflt:PennantParkSeniorSecuredLoanFundILLCMember2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants C5MI Holdco, LLC - Common Equity Acquisition 7/31/2024 Industry IT Services2025-10-012025-12-310001504619pflt:TaxableSubsidiaryMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Inventus Power, Inc. - Unfunded Revolver Acquisition 6/29/2023 Maturity 01/15/2026 Industry Electronic Equipment, Instruments, and Components2024-10-012025-09-300001504619pflt:ClassA2RNotesMemberpflt:RTwoThousandAndThirtySixAssetBackedDebtMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants New Insight Holdings, Inc. Acquisition 7/15/2024 Industry Business Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Kinetic Purchaser, LLC - Common Equity - Class AA Acquisition 11/8/2021 Industry Personal Products2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Project Granite Buyer, Inc. - Unfunded Revolver Acquisition 12/31/2024 Maturity 12/31/2030 Industry Professional Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants New Medina Health, LLC - Common Equity Acquisition 10/16/2023 Industry Healthcare Providers and Services2025-12-310001504619us-gaap:EquityMethodInvestmentsMemberus-gaap:FairValueInputsLevel1Member2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Loving Tan Intermediate II, Inc. - Unfunded Revolver Acquisition 5/24/2023 Maturity 05/31/2028 Industry Personal Products2024-10-012025-09-300001504619us-gaap:FairValueInputsLevel3Memberpflt:ValuationTechniqueMarketComparableMemberpflt:SecondLienMemberpflt:MeasurementInputBrokerOrDealerBidsOrQuotesMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Boss Industries, LLC Acquisition 12/27/2024 Maturity 12/27/2030 Industry Independent Power and Renewable Electricity Producers Current Coupon 8.71% Basis Point Spread Above Index 3M SOFR+ 5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Pink Lily Holdco, LLC - Preferred Equity - Class A-1 Acquisition 11/5/2021 Industry Textiles, Apparel and Luxury Goods2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TCG 3.0 Jogger Acquisitionco, Inc. - Funded Revolver Acquisition 1/23/2024 Maturity 1/23/2029 Industry Media Current Coupon 12.75% Basis Point Spread Above Index 3M SOFR+ 5502024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Harris & Co, LLC Acquisition 11/26/2024 Maturity 08/09/2030 Industry Professional Services Current Coupon 8.72% Basis Point Spread Above Index SOFR+5002025-12-310001504619pflt:LeisureProductsMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants SBI Holdings Investments, LLC - Common Equity Acquisition 12/23/2019 Industry Professional Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Systems Planning And Analysis, Inc. - Unfunded Term Loan Acquisition 10/12/2021 Maturity 06/12/2027 Industry Aerospace and Defense2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Arcfield Acquisition Corp. Acquisition 10/28/2024 Maturity 10/28/2031 Industry Aerospace and Defense Current Coupon 9.31% Basis Point Spread Above Index 3M SOFR+ 5002025-09-300001504619First Lien Secured Debt Issuer Name Lash OpCo, LLC Acquisition 10/14/2021 Maturity 02/18/2027 Industry Personal Products Current Coupon 10.94% Basis Point Spread Above Index SOFR+7102025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Recteq, LLC Acquisition 1/27/2021 Maturity 01/29/2026 Industry Leisure Products Current Coupon 10.07% Basis Point Spread Above Index 3M SOFR+ 6402025-12-310001504619pflt:TotalInvestmentsMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Wash & Wax Systems, LLC - Unfunded Revolver Acquisition 4/30/2025 Maturity 04/30/2028 Industry Consumer Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity RTIC Parent Holdings, LLC - Preferred Equity - Class C Acquisition 5/3/2024 Industry Leisure Products2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Transgo, LLC Acquisition 11/18/2025 Maturity 12/29/2028 Industry Auto Components Current Coupon 9.47% Basis Point Spread Above Index SOFR+5752025-12-310001504619pflt:SeniorSecuritiesMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt BLC Holding Company, Inc. Acquisition 11/20/2024 Maturity 11/20/2030 Industry Business Services Current Coupon 8.50% Basis Point Spread Above Index 3M SOFR+ 4502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Seacoast Service Partners NA, LLC Acquisition 12/20/2024 Maturity 12/20/2029 Industry Diversified Consumer Services Current Coupon 8.92% Basis Point Spread Above Index 3M SOFR+ 5252025-12-310001504619First Lien Secured Debt Issuer Name Hills Distribution, Inc. Acquisition 12/2/2025 Maturity 11/8/2029 Industry Distributors Current Coupon 9.19% Basis Point Spread Above Index SOFR+5502025-10-012025-12-310001504619us-gaap:FinancingReceivables30To59DaysPastDueMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants SV-Aero Holdings, LLC - Common Equity Acquisition 12/6/2023 Industry Aerospace and Defense2024-10-012025-09-300001504619pflt:NonMoneyMarketFundMember2025-12-310001504619First Lien Secured Debt Issuer Name Archer Lewis, LLC Acquisition 11/22/2024 Maturity 8/28/2029 Industry Commercial Services & Supplies Current Coupon 9.75% Basis Point Spread Above Index SOFR+5752024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Hancock Roofing And Construction, LLC Acquisition 1/27/2021 Maturity 12/31/2026 Industry Insurance Current Coupon 9.60% Basis Point Spread Above Index SOFR+5502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants KL Stockton Co-Invest, LP - Common Equity Acquisition 7/16/2021 Industry Energy Equipment and Services2025-10-012025-12-310001504619us-gaap:EquityMethodInvestmentsMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt BLC Holding Company, Inc. Acquisition 11/20/2024 Maturity 11/20/2030 Industry Business Services Current Coupon 8.2% Basis Point Spread Above Index 3M SOFR+ 4502025-10-012025-12-310001504619First Lien Secured Debt Issuer Name EDS Buyer, LLC Acquisition 4/11/2023 Maturity 01/10/2029 Industry Electronic Equipment, Instruments, and Components Current Coupon 8.17% Basis Point Spread Above Index SOFR+4502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants 48Forty Intermediate Holdings, Inc. - Common Equity Acquisition 8/27/2025 Industry Business Services2025-12-310001504619First Lien Secured Debt Issuer Name Pacific Purchaser, LLC Acquisition 1/12/2024 Maturity 10/02/2028 Industry Business Services Current Coupon 9.85% Basis Point Spread Above Index SOFR+6252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt LJ Avalon Holdings, LLC - Unfunded Term Loan Acquisition 1/18/2023 Maturity 02/08/2027 Industry Construction & Engineering2025-12-310001504619First Lien Secured Debt Issuer Name Burgess Point Purchaser Corporation Acquisition 10/3/2022 Maturity 7/25/2029 Industry Automotive Current Coupon 9.19% Basis Point Spread Above Index SOFR+5352025-10-012025-12-310001504619pflt:ConsumerProductsMember2025-09-300001504619pflt:TwoThousandAndThirtyOneAssetBackedDebtMemberpflt:ClassDSecuredDeferrableFloatingRateLoansDue2031Member2025-10-012025-12-310001504619pflt:ControlledAffiliatedInvestmentsMember2024-10-012024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sigma Defense Systems, LLC - Unfunded Term Loan Acquisition 11/30/2021 Maturity 12/20/2027 Industry IT Services2025-12-310001504619First Lien Secured Debt Issuer Name DRI Holding Inc. Acquisition 9/15/2022 Maturity 12/21/2028 Industry Media Current Coupon 9.51% Basis Point Spread Above Index SOFR+5352024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Medina Health, LLC Acquisition 10/16/2023 Maturity 10/20/2028 Industry Healthcare Providers and Services Current Coupon 9.95% Basis Point Spread Above Index 3M SOFR+ 6252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sigma Defense Systems, LLC Acquisition 11/30/2021 Maturity 12/20/2027 Industry IT Services Current Coupon 10.62% Basis Point Spread Above Index 3M SOFR+ 6902025-10-012025-12-310001504619pflt:TwoThousandAndThirtySixAssetBackedDebtMemberpflt:ClassA1SeniorSecuredFloatingRateLoansMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants White Tiger Newco, LLC - Common Equity Acquisition 6/27/2022 Industry Capital Equipment2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Pink Lilly Holdco, LLC - Unfunded Revolver Acquisition 11/5/2021 Maturity 11/9/2027 Industry Textiles, Apparel and Luxury Goods2025-09-300001504619First Lien Secured Debt Issuer Name Pink Lily Holdco, LLC Acquisition 11/30/2021 Maturity 11/09/2027 Industry Textiles, Apparel and Luxury Goods2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cartessa Aesthetics, LLC - Unfunded Revolver Acquisition 6/1/2022 Maturity 06/14/2028 Industry Distributors2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Hancock Roofing and Construction, LLC - Funded Revolver Acquisition 12/23/2020 Maturity 12/31/2026 Industry Insurance Current Coupon 9.32% Basis Point Spread Above Index 3M SOFR+ 5602025-12-310001504619First Lien Secured Debt Issuer Name Arcfield Acquisition Corp. Acquisition 11/11/2024 Maturity 10/28/2031 Industry Aerospace and Defense Current Coupon 8.84% Basis Point Spread Above Index SOFR+5002025-10-012025-12-310001504619Equity Securities Issuer Name New Insight Holdings, Inc. - Common Equity Acquisition 7/15/2024 Industry Diversified Consumer Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Anteriad, LLC (f/k/a MeritDirect, LLC) - Incremental Term Loan Acquisition 5/21/2019 Maturity 06/30/2026 Industry Media Current Coupon 9.90% Basis Point Spread Above Index 3M SOFR+ 5902025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Carisk Parent, LP - Common Equity Acquisition 11/27/2023 Industry Healthcare Technology2024-10-012025-09-300001504619us-gaap:InvestmentUnaffiliatedIssuerMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt HW Holdco, LLC Acquisition 1/9/2019 Maturity 5/11/2026 Industry Media Current Coupon 9.62% Basis Point Spread Above Index 3M SOFR+ 5902025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Crane 1 Services, Inc. - Unfunded Revolver Acquisition 8/11/2021 Maturity 08/16/2027 Industry Commercial Services & Supplies2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity RTIC Parent Holdings, LLC - Preferred Equity - Class C Acquisition 5/3/2024 Industry Leisure Products2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt Integrative Nutrition, LLC - Promissory Note Acquisition 4/17/2025 Maturity 04/15/2033 Industry Consumer Services2024-10-012025-09-300001504619pflt:IncentiveFeePaymentConditionThreeMember2025-10-012025-12-310001504619us-gaap:FairValueInputsLevel3Memberus-gaap:EquityMethodInvestmentsMemberus-gaap:MeasurementInputEbitdaMultipleMembersrt:MaximumMemberpflt:ValuationTechniqueEnterpriseMarketValueMember2025-12-310001504619First Lien Secured Debt Issuer Name Cartessa Aesthetics, LLC Acquisition 4/11/2023 Maturity 6/14/2028 Industry Distributors Current Coupon 9.67% Basis Point Spread Above Index SOFR+6002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Inovex Information Systems Incorporated Acquisition 12/17/2024 Maturity 12/17/2030 Industry Software Current Coupon 8.92% Basis Point Spread Above Index 3M SOFR+ 5252025-12-310001504619First Lien Secured Debt Issuer Name One Stop Mailing, LLC Acquisition 7/8/2021 Maturity 5/7/2027 Industry Air Freight and Logistics Current Coupon 10.53% Basis Point Spread Above Index SOFR+6362025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Infinity Home Services Holdco, Inc. - Unfunded Revolver Acquisition 12/21/2022 Maturity 12/28/2028 Industry Commercial Services & Supplies2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name ETE Intermediate II, LLC Acquisition 11/18/2025 Maturity 5/29/2029 Industry Auto Components Current Coupon 8.72% Basis Point Spread Above Index SOFR+5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt OSP Embedded Purchaser, LLC Acquisition 12/11/2023 Maturity 12/17/2029 Industry Aerospace and Defense Current Coupon 9.77% Basis Point Spread Above Index 3M SOFR+ 5752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Project Granite Buyer, Inc. - Unfunded Revolver Acquisition 12/31/2024 Maturity 12/31/2030 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity AFC Acquisitions, Inc. Preferred Equity - Series I-2 Acquisition 12/7/2023 Industry Distributors2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name ORL Acquisition, Inc. Acquisition 5/22/2025 Maturity 09/03/2027 Industry Consumer Finance Current Coupon 13.07% Basis Point Spread Above Index SOFR+9402025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Alpine Acquisition Corp II Acquisition 10/11/2022 Maturity 11/30/2026 Industry Containers and Packaging2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants QuantiTech InvestCo, LP - Common Equity Acquisition 12/31/2024 Industry Aerospace and Defense2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Harris & Co. LLC - Funded Revolver Acquisition 08/09/2024 Maturity 08/09/2030 Industry Professional Services Current Coupon 9.16% Basis Point Spread Above Index 1M SOFR+ 5002024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Carisk Buyer, Inc. Acquisition 10/16/2024 Maturity 12/3/2029 Industry Healthcare Technology Current Coupon 9.00% Basis Point Spread Above Index SOFR+5002024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Archer Lewis, LLC Acquisition 11/18/2025 Maturity 8/28/2029 Industry Professional Services Current Coupon 9.75% Basis Point Spread Above Index SOFR+5752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt OSP Embedded Purchaser, LLC - Funded Revolver Acquisition 12/11/2023 Maturity 12/17/2029 Industry Aerospace and Defense Current Coupon 9.75% Basis Point Spread Above Index 3M SOFR+ 5752025-10-012025-12-3100015046192024-10-012025-06-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt The Vertex Companies, LLC - Funded Revolver Acquisition 8/25/2021 Maturity Date 8/31/2028 Industry Construction & Engineering Current Coupon 8.99% Basis Point Spread Above Index 1M SOFR+ 4952024-10-012025-09-300001504619srt:MinimumMemberpflt:TruistCreditFacilityMember2025-04-012025-04-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Safe Haven Defense Holdco, LLC - Common Equity Acquisition 1/16/2025 Industry Building Products2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Harris & Co. LLC Acquisition 08/09/2024 Maturity 08/09/2030 Industry Professional Services Current Coupon 9.16% Basis Point Spread Above Index 3M SOFR+ 5002025-09-300001504619pflt:TwoThousandAndThirtyOneAssetBackedDebtMemberpflt:ClassB2SeniorSecuredFixedRateNotesDue2031Member2019-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Walker Edison Furniture Company, LLC - New Money DIP Acquisition 3/1/2023 Maturity 03/01/2029 Industry Wholesale Current Coupon 10.00%2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity TWD Parent Holdings, LLC - Preferred Equity Acquisition 8/25/2021 Industry Construction & Engineering2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity RTIC Parent Holdings, LLC - Preferred Equity - Class A Acquisition 5/3/2024 Industry Leisure Products2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Blackhawk Industrial Distribution, Inc. - Funded Revolver Acquisition 6/27/2022 Maturity 9/17/2026 Industry Distributors Current Coupon 9.07% Basis Point Spread Above Index 3M SOFR+ 5402025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt OSP Embedded Purchaser, LP - Convertible Note Acquisition 11/6/2024 Maturity 05/08/2030 Industry Aerospace and Defense Current Coupon 12.00%2024-10-012024-12-310001504619pflt:PriorCreditFacilityMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Seacoast Service Partners NA, LLC Acquisition 12/20/2024 Maturity 12/20/2029 Industry Diversified Consumer Services Current Coupon 8.92% Basis Point Spread Above Index 3M SOFR+ 5252025-10-012025-12-310001504619pflt:SubNotesMemberpflt:PennantParkCLO12LLCMember2025-04-300001504619us-gaap:AutomobilesMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Blackhawk Industrial Distribution, Inc. Acquisition 6/27/2022 Maturity 09/17/2026 Industry Distributors Current Coupon 9.40% Basis Point Spread Above Index 3M SOFR+ 5402024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Marketplace Events Acquisition, LLC - Unfunded Revolver Acquisition 12/19/2024 Maturity 12/19/2030 Industry Media2025-12-310001504619us-gaap:InvestmentAffiliatedIssuerControlledMember2025-09-300001504619us-gaap:HealthcareSectorMember2025-09-300001504619First Lien Secured Debt Issuer Name Paving Lessor Corp. First Lien -Term Loan Acquisition 8/28/2025 Maturity 07/01/2031 Industry Business Services Current Coupon 8.94% Basis Point Spread Above Index SOFR+5252025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Sigma Defense Systems, LLC Acquisition 12/27/2021 Maturity 12/20/2027 Industry Aerospace and Defense Current Coupon 10.62% Basis Point Spread Above Index SOFR+6902025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt NORA Acquisition, LLC - Unfunded Revolver Acquisition 8/22/2023 Maturity 08/31/2029 Industry Healthcare Providers and Services2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Commercial Fire Protection Holdings, LLC Acquisition 11/18/2025 Maturity 9/23/2030 Industry Commercial Services & Supplies Current Coupon 8.17% Basis Point Spread Above Index SOFR+4502025-12-310001504619pflt:RTwoThousandAndThirtySixAssetBackedDebtMember2024-10-012025-09-300001504619pflt:ClassBNotesMemberpflt:PennantParkCLO12LLCMember2025-04-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Amsive Holdings Corporation Acquisition 3/2/2020 Maturity 12/10/2026 Industry Media Current Coupon 10.35% Basis Point Spread Above Index 3M SOFR+ 6252025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Lightspeed Buyer, Inc. Acquisition 1/21/2020 Maturity 02/03/2027 Industry Healthcare Technology Current Coupon 8.42% Basis Point Spread Above Index 3M SOFR+ 4752025-10-012025-12-310001504619First Lien Secured Debt Issuer Name The Bluebird Group, LLC Acquisition 8/9/2021 Maturity 7/28/2026 Industry Professional Services Current Coupon 9.90% Basis Point Spread Above Index SOFR+5902025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Halo Buyer, Inc. - Funded Revolver Acquisition 02/07/2025 Maturity 08/07/2029 Industry Consumer products Current Coupon 10.16% Basis Point Spread Above Index 1M SOFR+ 6002024-10-012025-09-300001504619pflt:TwoThousandAndThirtySixAssetBackedDebtMemberpflt:ClassB1SeniorSecuredFloatingRateNotesDue2031Memberpflt:SecuredOvernightFinancingRateMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt CJX Borrower, LLC - Funded Revolver Acquisition 7/8/2021 Maturity 7/13/2027 Industry Media Current Coupon 9.7% Basis Point Spread Above Index 3M SOFR+ 5762025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ACP Avenu Buyer, LLC - Unfunded Term Loan Acquisition 10/2/2023 Maturity 04/21/2027 Industry IT Services2025-09-300001504619First Lien Secured Debt Issuer Name Sath Industries, LLC Acquisition 11/18/2025 Maturity 12/17/2029 Industry Building Products Current Coupon 9.17% Basis Point Spread Above Index SOFR+5502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Schlesinger Global, Inc. - Funded Revolver Acquisition 10/24/2019 Maturity 10/24/2025 Industry Professional Services Current Coupon 12.76% (PIK 5.85%) Basis Point Spread Above Index 3M SOFR+8602024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Inventus Power, Inc. Acquisition 6/29/2023 Maturity 01/15/2026 Industry Electronic Equipment, Instruments, and Components Current Coupon 11.78% Basis Point Spread Above Index 3M SOFR+ 7612025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants StellPen Holdings, LLC (CF512, Inc.) - Common Equity Acquisition 10/1/2025 Industry Media2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Five Star Buyer, Inc. Acquisition 02/21/2023 Maturity 02/23/2028 Industry Hotels, Restaurants and Leisure Current Coupon 11.46 (PIK 1.00%) Basis Point Spread Above Index 3M SOFR+ 7152025-09-300001504619First Lien Secured Debt Issuer Name MOREgroup Holdings, Inc. Acquisition 3/22/2024 Maturity 01/16/2030 Industry Business Services Current Coupon 8.92% Basis Point Spread Above Index SOFR+5252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Arcfield Acquisition Corp. - Unfunded Revolver Acquisition 10/28/2024 Maturity 10/28/2031 Industry Aerospace and Defense2024-10-012025-09-300001504619pflt:ClassLoansA-RMemberpflt:PennantParkCLOVILLCMember2025-05-310001504619pflt:ClassDSecuredDeferrableFloatingRateLoansDue2036Memberpflt:TwoThousandAndThirtySixAssetBackedDebtMemberpflt:SecuredOvernightFinancingRateMember2024-02-012024-02-290001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt EDS Buyer, LLC. - Unfunded Revolver Acquisition 12/19/2022 Maturity 01/10/2029 Industry Electronic Equipment, Instruments, and Components2024-10-012025-09-300001504619us-gaap:InvestmentUnaffiliatedIssuerMember2025-09-300001504619pflt:BlackRockFederalFDInstitutionalThirtyMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Marketplace Events Acquisition, LLC - Unfunded Revolver Acquisition 12/19/2024 Maturity 12/19/2030 Industry Media2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MOREgroup Holdings, Inc. - Unfunded Term Loan Acquisition 1/9/2024 Maturity 01/16/2026 Industry Construction & Engineering2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Aphix Buyer, Inc. Acquisition 7/17/2025 Maturity 07/17/2031 Industry Business Services Current Coupon 8.91% Basis Point Spread Above Index 3M SOFR+ 4752024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Infinity Home Services Holdco, Inc. Acquisition 4/11/2023 Maturity 12/28/2028 Industry Commercial Services & Supplies Current Coupon 9.67% Basis Point Spread Above Index SOFR+6002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Keel Platform, LLC Acquisition 01/26/2024 Maturity 1/20/2031 Industry Metals and Mining Current Coupon 8.75% Basis Point Spread Above Index 3M SOFR+ 4752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity EvAL Home Health Solutions, LLC Acquisition 5/10/2024 Industry Healthcare, Education and Childcare2025-10-012025-12-310001504619us-gaap:InvestmentAffiliatedIssuerControlledMemberpflt:FirstLienSecuredDebtMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ro Health, LLC - Unfunded Revolver Acquisition 1/16/2025 Maturity 1/17/2031 Industry Healthcare Providers and Services2025-09-300001504619pflt:CommercialServicesAndSuppliesMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Wash & Wax Systems, LLC - Funded Revolver Acquisition 4/30/2025 Maturity 04/30/2028 Industry Consumer Services Current Coupon 9.81% Basis Point Spread Above Index 3M SOFR+ 5502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants UniTek Global Services, Inc. - Common Equity Acquisition 8/25/2021 Industry Telecommunications2025-12-310001504619us-gaap:FairValueInputsLevel2Memberpflt:TwoThousandTwentySixNotesPayableMember2025-12-310001504619us-gaap:InvestmentUnaffiliatedIssuerMemberpflt:FirstLienSecuredDebtMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants BioDerm Holdings, LP - Common Equity Acquisition 1/30/2023 Industry Healthcare Equipment and Supplies2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Aphix Buyer, Inc. Acquisition 7/17/2025 Maturity 07/17/2031 Industry Business Services Current Coupon 8.48% Basis Point Spread Above Index 3M SOFR+ 4752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Riverpoint Medical, LLC Acquisition 6/19/2019 Maturity 6/21/2027 Industry Healthcare Equipment and Supplies Current Coupon 8.75% Basis Point Spread Above Index 3M SOFR+ 4752024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Imagine Acquisitionco, Inc. Acquisition 3/15/2022 Maturity 11/15/2027 Industry Software Current Coupon 9.29% Basis Point Spread Above Index SOFR+5102025-09-300001504619pflt:TotalInvestmentsMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt DRS Holdings III, Inc. - Unfunded Revolver Inc Acquisition 10/29/2019 Maturity 11/03/2025 Industry Personal Products2024-10-012025-09-300001504619pflt:TwoThousandAndThirtySevenAssetBackedDebtMemberpflt:SubordinatedNotesMemberpflt:SecuredOvernightFinancingRateMember2025-02-012025-02-280001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Rosco Topco, LLC - Common Equity Acquisition 12/16/2020 Industry Business Services2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name TPC US Parent, LLC Acquisition 4/11/2023 Maturity 11/24/2025 Industry Consumer Goods: Non-Durable Current Coupon 10.19% Basis Point Spread Above Index SOFR+5902025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt The Vertex Companies, LLC - Funded Revolver Acquisition 8/25/2021 Maturity Date 8/31/2028 Industry Construction & Engineering Current Coupon 8.99% Basis Point Spread Above Index 1M SOFR+ 4952025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Penta Group Holdings, Inc. - Common Equity Acquisition 7/31/2025 Industry Professional Services2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Sabel Systems Technology Solutions, LLC Acquisition 11/11/2024 Maturity 10/31/2030 Industry Government Services Current Coupon 9.91% Basis Point Spread Above Index SOFR+5752025-09-300001504619us-gaap:TechnologySectorMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt By Light Professional IT Services, LLC Acquisition 7/15/2025 Maturity 07/15/2031 Industry High Tech Industries Current Coupon 9.66% Basis Point Spread Above Index 1M SOFR+ 5502024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Podean Buyer, LLC - Unfunded Revolver Acquisition 8/4/2025 Maturity 8/4/2031 Industry Marketing Services2025-09-300001504619us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputEbitdaMultipleMembersrt:MaximumMemberpflt:ValuationTechniqueEnterpriseMarketValueMemberpflt:FirstLienMember2025-12-310001504619First Lien Secured Debt Issuer Name Beta Plus Technologies, Inc. Acquisition 7/21/2022 Maturity 7/2/2029 Industry Business Services Current Coupon 9.75% Basis Point Spread Above Index SOFR+5752025-09-300001504619pflt:BlackRockFederalFDInstitutionalEightyOneMemberpflt:PennantParkSeniorSecuredLoanFundIILLCMember2025-12-3100015046192025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sabel Systems Technology Solutions, LLC - Funded Revolver Acquisition 10/31/2024 Maturity 10/31/2030 Industry Government Services Current Coupon 12.75% Basis Point Spread Above Index 3M SOFR+ 5252024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Quad (U.S.) Co-Invest, LP - Common Equity Acquisition 3/28/2025 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Argano, LLC Acquisition 9/13/2024 Maturity 09/13/2029 Industry Business Services Current Coupon 9.23% Basis Point Spread Above Index 3M SOFR+ 5502025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Dynata, LLC - First Out Term Loan Acquisition 7/15/2024 Maturity 7/17/2028 Industry Diversified Consumer Services Current Coupon 9.46% Basis Point Spread Above Index SOFR+5262025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt First Medical MSO, LLC - Unfunded Term Loan Acquisition 6/13/2025 Maturity 6/13/2027 Industry Healthcare Providers and Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Project Granite Holdings, LLC Acquisition 12/31/2024 Industry Professional Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants OSP Embedded Aggregator, LP - Common Equity Acquisition 12/11/2023 Industry Aerospace and Defense2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Inovex Information Systems Incorporated - Unfunded Revolver Acquisition 12/17/2024 Maturity 12/17/2030 Industry Software2025-09-300001504619pflt:IncentiveFeePaymentConditionThreeMembersrt:MinimumMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Carnegie HoldCo, LLC Acquisition 2/7/2024 Industry Professional Services2025-10-012025-12-310001504619us-gaap:FairValueInputsLevel2Memberus-gaap:EquityMethodInvestmentsMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Megawatt Acquisition Partners, LLC - Preferred Equity - Class A Acquisition 6/28/2024 Industry Electronic Equipment, Instruments, and Components2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Graffiti Buyer, Inc. - Unfunded Term Loan Acquisition 8/9/2021 Maturity 8/10/2027 Industry Trading Companies & Distributors2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Global Holdings InterCo, LLC Acquisition 3/11/2021 Maturity 3/16/2026 Industry Diversified Financial Services Current Coupon 9.33% Basis Point Spread Above Index 1M SOFR+ 5602025-12-310001504619pflt:TwoThousandAndTwentySixNotesTwoMember2021-03-012021-03-310001504619us-gaap:FairValueInputsLevel3Memberpflt:FirstLienMember2024-12-310001504619First Lien Secured Debt Issuer Name ACP Falcon Buyer, Inc. Acquisition 8/22/2023 Maturity 8/1/2029 Industry Business Services Current Coupon 9.49% Basis Point Spread Above Index SOFR+5502025-10-012025-12-310001504619First Lien Secured Debt Issuer Name PAR Excellence Holdings, Inc. Acquisition 10/16/24 Maturity 9/3/2030 Industry Healthcare Technology Current Coupon 9.17% Basis Point Spread Above Index SOFR+5002024-10-012025-09-300001504619First Lien Secured Debt Issuer Name PAR Excellence Holdings, Inc. Acquisition 10/16/2024 Maturity 09/03/2030 Industry Healthcare Technology Current Coupon 8.77% Basis Point Spread Above Index SOFR+5002025-12-310001504619First Lien Secured Debt Issuer Name Aphix Buyer, Inc. Acquisition 9/3/2025 Maturity 7/17/2031 Industry Business Services Current Coupon 8.91% Basis Point Spread Above Index SOFR+4752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Riverpoint Medical, LLC Acquisition 6/19/2019 Maturity 6/21/2027 Industry Healthcare Equipment and Supplies Current Coupon 8.75% Basis Point Spread Above Index 3M SOFR+ 4752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt EDS Buyer, LLC Acquisition 12/19/2022 Maturity 1/10/2029 Industry Electronic Equipment, Instruments, and Components Current Coupon 8.49% Basis Point Spread Above Index 3M SOFR+ 4752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Big Top Holdings, LLC Acquisition 2/29/2024 Maturity 03/01/2030 Industry Construction & Engineering Current Coupon 9.50% Basis Point Spread Above Index 3M SOFR+ 5502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Harris & Co. LLC Acquisition 8/9/2024 Maturity 8/9/2030 Industry Professional Services Current Coupon 8.72% Basis Point Spread Above Index 3M SOFR+ 5002025-12-310001504619pflt:PennantParkCLO12LLCMember2025-04-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Tower Arch Infolinks Media, LP - Unfunded Common Equity Acquisition 10/27/2021 Industry Media2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Boss Industries, LLC - Unfunded Revolver Acquisition 12/27/2024 Maturity 12/27/2030 Industry Independent Power and Renewable Electricity Producers2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Archer Lewis, LLC Acquisition 8/28/2024 Maturity 08/28/2029 Industry Healthcare Technology Current Coupon 9.75% Basis Point Spread Above Index 3M SOFR+ 5752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Delta InvestCo, LP - Common Equity Acquisition 12/16/2020 Industry IT Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Marketplace Events Acquisition, LLC Acquisition 1/13/2025 Maturity 12/19/2030 Industry Media Current Coupon 9.12% Basis Point Spread Above Index SOFR+5252025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Municipal Emergency Services, Inc. - Common Equity Acquisition 9/28/2021 Industry Distributors2025-09-300001504619First Lien Secured Debt Issuer Name Loving Tan Intermediate II, Inc. Acquisition 10/25/2023 Maturity 5/31/2028 Industry Personal Products Current Coupon 9.00% Basis Point Spread Above Index SOFR+5002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants LJ Avalon, LP - Common Equity Acquisition 1/18/2023 Industry Construction & Engineering2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt GGG Midco, LLC – Unfunded Revolver Acquisition 9/27/2024 Maturity 9/27/2030 Industry Diversified Consumer Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Podean Buyer, LLC - Unfunded Revolver Acquisition 8/4/2025 Maturity 8/4/2031 Industry Marketing Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants APT Holdings, LLC - Common Equity Acquisition 9/29/2025 Industry Healthcare Providers and Services2025-09-300001504619Equity Securities Issuer Name Lucky Bucks, LLC - Common Equity Acquisition 12/1/2023 Industry Hotel, Gaming and Leisure2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt First Medical MSO, LLC Acquisition 06/13/2025 Maturity 06/13/2031 Industry Healthcare Providers and Services Current Coupon 9.75%2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name RRA Corporate, LLC Acquisition 4/10/2025 Maturity 8/15/2029 Industry Diversified Consumer Services Current Coupon 9.25% Basis Point Spread Above Index SOFR+5252025-09-300001504619pflt:PennantParkSeniorSecuredLoanFundILLCMember2024-10-012024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Hancock Claims Consultants Investors, LLC - Preferred Equity Acquisition 12/23/2020 Industry Insurance2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Pink Lilly Holdco, LLC - Funded Revolver Acquisition 11/5/2021 Maturity 11/9/2027 Industry Textiles, Apparel and Luxury Goods Current Coupon 4.27%2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rosco Parent, LLC - Unfunded Revolver Acquisition 9/9/2025 Maturity 09/12/2031 Industry Business Services2025-12-310001504619pflt:LiabilitiesInExcessOfOtherAssetsMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cf512, Inc. - Unfunded Revolver Acquisition 8/17/2021 Maturity 08/20/2026 Industry Media2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants AG Investco - Unfunded Common Equity Acquisition 11/5/2018 Industry Software2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt EDS Buyer, LLC. - Unfunded Revolver Acquisition 12/19/2022 Maturity 01/10/2029 Industry Electronic Equipment, Instruments, and Components2025-09-300001504619First Lien Secured Debt Issuer Name STG Distribution, LLC - Second Out Term Loans Acquisition 5/22/2025 Maturity 10/03/2029 Industry Air Freight and Logistics2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Beta Plus Technologies, Inc. Acquisition 7/21/2022 Maturity 7/2/2029 Industry Business Services Current Coupon 9.42% Basis Point Spread Above Index SOFR+5752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt DRS Holdings III, Inc. Acquisition 10/29/2019 Maturity 11/03/2025 Industry Chemicals, Plastics and Rubber Current Coupon 9.41% Basis Point Spread Above Index 3M SOFR+ 5252024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Boss Industries, LLC - Unfunded Revolver Acquisition 12/27/2024 Maturity 12/27/2030 Industry Independent Power and Renewable Electricity Producers2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Penta Group Holdings, Inc. Acquisition 7/31/2025 Maturity 7/31/2031 Industry Professional Services Current Coupon 8.50%2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants NORA Parent Holdings, LLC - Common Equity Acquisition 8/22/2023 Industry Healthcare Providers and Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Watchtower Buyer, LLC - Funded Revolver Acquisition 11/29/2023 Maturity 12/03/2029 Industry Electronic Equipment, Instruments, and Components Current Coupon 9.69% Basis Point Spread Above Index 3M SOFR+ 6002024-10-012024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Walker Edison Furniture Company, LLC - New Money DIP Acquisition 3/1/2023 Maturity 03/01/2029 Industry Wholesale Current Coupon 10.00%2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ORL Acquisition, Inc. - Unfunded Revolver Acquisition 9/1/2021 Maturity 09/03/2027 Industry Consumer Finance2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MOREgroup Holdings, Inc. - Unfunded Term Loan Acquisition 1/9/2024 Maturity 01/16/2026 Industry Construction & Engineering2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants TCG 3.0 Jogger Co-Invest, LP - Common Equity Acquisition 1/22/2024 Industry Media2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name STG Distribution, LLC - First Out New Money Term Loans Acquisition 10/24/2024 Maturity 10/03/2029 Industry Air Freight and Logistics2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt CJX Borrower, LLC Acquisition 7/8/2021 Maturity 07/13/2027 Industry Media Current Coupon 10.08% Basis Point Spread Above Index 3M SOFR+ 5762024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt By Light Professional IT Services, LLC Acquisition 7/15/2025 Maturity 7/15/2031 Industry High Tech Industries Current Coupon 9.22% Basis Point Spread Above Index 1M SOFR+ 5502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt One Stop Mailing, LLC Acquisitions 5/26/2021 Maturity 05/07/2027 Industry Air Freight and Logistics Current Coupon 10.53% Basis Point Spread Above Index 3M SOFR+ 6362025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Recteq, LLC - Funded Revolver Acquisition 1/27/2021 Maturity 1/29/2026 Industry Leisure Products Current Coupon 10.46% Basis Point Spread Above Index 3M SOFR+ 6252025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rural Sourcing Holdings, Inc. - Unfunded Revolver Acquisition 6/8/2023 Maturity 06/15/2029 Industry Professional Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Infinity Home Services Holdco, Inc. - Funded Revolver Acquisition 12/21/2022 Maturity 12/28/2028 Industry Commercial Services & Supplies Current Coupon 12.25%2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TransGo, LLC - Unfunded Revolver Acquisition 12/29/2023 Maturity 12/29/2028 Industry Auto Components2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity AFC Acquisitions, Inc. Preferred Equity - Series G-2 Acquisition 12/7/2023 Industry Distributors2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Loving Tan Intermediate II, Inc. - Unfunded Term Loan - 2nd Amendment Acquisition 5/24/2023 Maturity 12/31/2026 Industry Personal Products One2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity ORL Holdco, Inc. - Preferred Equity Acquisition 9/1/2021 Industry Consumer Finance2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name GGG MIDCO, LLC Acquisition 4/10/2025 Maturity 9/27/2030 Industry Diversified Consumer Services Current Coupon 9.00% Basis Point Spread Above Index SOFR+5002024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Megawatt Acquisitionco, Inc. Acquisition 4/29/2024 Maturity 3/1/2030 Industry Electronic Equipment, Instruments, and Components Current Coupon 9.25% Basis Point Spread Above Index SOFR+5252025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants AG Investco - Common Equity Acquisition 11/5/2018 Industry Software2024-10-012025-09-300001504619pflt:TwoThousandAndThirtySevenAssetBackedDebtMemberpflt:ClassDNotesMemberpflt:SecuredOvernightFinancingRateMember2025-02-012025-02-280001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Inovex Information Systems Incorporated - Funded Revolver Acquisition 12/17/2024 Maturity 12/17/2030 Industry Software Current Coupon 11.25% Basis Point Spread Above Index 3M SOFR+ 4252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rural Sourcing Holdings, Inc. Acquisition 6/8/2023 Maturity 6/15/2029 Industry Professional Services Current Coupon 9.75% Basis Point Spread Above Index 3M SOFR+ 5752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Commercial Fire Protection Holdings, LLC - Unfunded Revolver Acquisition 9/23/2024 Maturity 9/23/2030 Industry Commercial Services & Supplies2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Inovex Information Systems Incorporated - Unfunded Revolver Acquisition 12/17/2024 Maturity 12/17/2030 Industry Software2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Dynata, LLC - First Out Term Loan Acquisition 7/15/2024 Maturity 07/17/2028 Industry Business Services Current Coupon 9.46% Basis Point Spread Above Index 3M SOFR+ 5262024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt Beacon Behavioral Holdings, LLC Acquisition 6/21/2024 Maturity 06/21/2030 Industry Healthcare Providers and Services Current Coupon 15.00%2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Ro Health Holdings, Inc. - Common Equity Acquisition 5/1/2020 Industry Healthcare Providers and Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Exigo Intermediate II, LLC Acquisition 8/27/2025 Maturity 3/15/2027 Industry Software Current Coupon 10.12% Basis Point Spread Above Index 1M SOFR+ 6352025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity TPC Holding Company, LP - Preferred Equity Acquisition 12/4/2019 Industry Food Products2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants SV-Aero Holdings, LLC - Common Equity Acquisition 7/11/2018 Industry Aerospace and Defense2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants BioDerm Holdings, LP - Common Equity Acquisition 1/30/2023 Industry Healthcare Equipment and Supplies2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt RRA Corporate, LLC - Funded Revolver Acquisition 8/15/2024 Maturity 8/15/2029 Industry Diversified Consumer Services Current Coupon 9.27% Basis Point Spread Above Index 3M SOFR+ 5252024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Lightspeed Buyer, Inc. Acquisition 1/27/2021 Maturity 02/03/2027 Industry Healthcare Providers and Services Current Coupon 8.42% Basis Point Spread Above Index SOFR+4752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Smile Brands, Inc. - Unfunded Revolver Acquisition 10/4/2018 Maturity 10/12/2027 Industry Healthcare and Pharmaceuticals2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Altamira Parent Holdings, LLC - Common Equity Acquisition 7/23/2019 Industry IT Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Eval Home Care Solutions Intermediate, LLC - Unfunded Revolver Acquisition 5/10/2024 Maturity 5/10/2030 Industry Healthcare, Education and Childcare2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name STG Distribution, LLC - Second Out Term Loans Acquisition 5/22/2025 Maturity 10/03/2029 Industry Air Freight and Logistics2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants OceanSound Discovery Equity, LP - Common Equity Acquisition 3/28/2024 Industry Aerospace and Defense2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carnegie Dartlet, LLC - Unfunded Revolver Acquisition 2/7/2024 Maturity 02/07/2030 Industry Professional Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Events TopCo, LP - Common Equity Acquisition 12/17/2024 Industry Event Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Seacoast Service Partners NA, LLC - Funded Revolver Acquisition 12/20/2024 Maturity 12/20/2029 Industry Diversified Consumer Services Current Coupon 9.00% Basis Point Spread Above Index 3M SOFR+ 5002024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Big Top Holdings, LLC Acquisition 6/26/2024 Maturity 3/1/2030 Industry Business Services Current Coupon 8.92% Basis Point Spread Above Index SOFR+5252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt STG Distribution, LLC - First Out New Money Term Loans Acquisition 8/27/2025 Maturity 10/3/2029 Industry Air Freight and Logistics Current Coupon 12.57% Basis Point Spread Above Index 1M SOFR+ 8352025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Watchtower Buyer, LLC - Unfunded Revolver Acquisition 11/29/2023 Maturity 12/03/2029 Industry Electronic Equipment, Instruments, and Components2024-10-012025-09-300001504619us-gaap:FairValueInputsLevel3Memberpflt:ValuationTechniqueMarketComparableMemberpflt:MeasurementInputBrokerOrDealerBidsOrQuotesMemberpflt:FirstLienMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants AG Investco - Unfunded Common Equity Acquisition 11/5/2018 Industry Software2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Marketplace Events Acquisition, LLC - Funded Revolver Acquisition 12/19/2024 Maturity 12/19/2030 Industry Media Current Coupon 9.25%2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Commercial Fire Protection Holdings, LLC - Unfunded Term Loan Acquisition 9/23/2024 Maturity 9/23/2026 Industry Commercial Services & Supplies2025-12-310001504619pflt:SeniorSecuritiesMember2018-04-052018-04-050001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Pink Lilly Holdco, LLC - Funded Revolver Acquisition 11/5/2021 Maturity 11/09/2027 Industry Textiles, Apparel and Luxury Goods2025-12-310001504619First Lien Secured Debt Issuer Name Pacific Purchaser, LLC Acquisition 1/12/2024 Maturity 10/02/2028 Industry Business Services Current Coupon 9.85% Basis Point Spread Above Index SOFR+6252025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Output Services Group, Inc. - First-Out Term Loan Acquisition 12/1/2023 Maturity 11/30/2028 Industry Business Services Current Coupon 12.16% Basis Point Spread Above Index SOFR+8422025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt DRS Holdings III, Inc. - Unfunded Revolver Acquisition 10/29/2019 Maturity 11/1/2028 Industry Personal Products2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Pink Lilly Holdco, LLC Acquisition 11/5/2021 Maturity 11/09/2027 Industry Textiles, Apparel and Luxury Goods2025-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:TwoThousandThirtySixRAssetBackedDebtMember2025-09-300001504619First Lien Secured Debt Issuer Name Megawatt Acquisitionco, Inc. Acquisition 4/29/2024 Maturity 3/1/2030 Industry Electronic Equipment, Instruments, and Components Current Coupon 9.25% Basis Point Spread Above Index SOFR+5252024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Dynata, LLC - Last Out Term Loan Acquisition 7/15/2024 Maturity 10/16/2028 Industry Business Services Current Coupon 9.96% Basis Point Spread Above Index 3M SOFR+ 5762024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Beacon Behavioral Support Services, LLC - Unfunded Term Loan Acquisition 6/21/2024 Maturity 12/13/2026 Industry Healthcare Providers and Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Help/Systems Holdings, Inc. Acquisition 8/27/2025 Maturity 11/30/2026 Industry Software Current Coupon 9.97% Basis Point Spread Above Index 3M SOFR+ 6102025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Smile Brands, Inc. - Unfunded Revolver Acquisition 10/4/2018 Maturity 10/12/2027 Industry Healthcare and Pharmaceuticals2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt DRI Holding Inc. Acquisition 5/23/2024 Maturity 12/21/2028 Industry Media Current Coupon 9.07% Basis Point Spread Above Index 1M SOFR+ 5352025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sales Benchmark Index, LLC - Funded Revolver Acquisition 12/23/2019 Maturity 7/7/2026 Industry Professional Services Current Coupon 9.20% Basis Point Spread Above Index 3M SOFR+ 5202024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Puget Collision, LLC Acquisition 10/3/2025 Maturity 10/02/2031 Industry Automobiles Current Coupon 8.42% Basis Point Spread Above Index SOFR+4752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Big Top Holdings, LLC - Unfunded Revolver Acquisition 2/29/2024 Maturity 02/28/2030 Industry Construction & Engineering2025-12-310001504619pflt:NonControlledAffiliatedInvestmentsMembersrt:MaximumMember2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Team Services Group, LLC Acquisition 10/4/2022 Maturity 12/20/2027 Industry Healthcare and Pharmaceuticals Current Coupon 9.09% Basis Point Spread Above Index SOFR+5252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt APT OPCO, LLC - Unfunded Term Loan Acquisition 9/29/2025 Maturity 09/30/2027 Industry Healthcare Providers and Services2025-12-310001504619First Lien Secured Debt Issuer Name Kinetic Purchaser, LLC Acquisition 11/30/2021 Maturity 11/10/2027 Industry Personal Products Current Coupon 10.15% Basis Point Spread Above Index SOFR+6152024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Global Holdings InterCo, LLC Acquisition 6/8/2021 Maturity 03/16/2026 Industry Diversified Financial Services Current Coupon 9.33% Basis Point Spread Above Index SOFR+5602025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Team Services Group, LLC Acquisition 10/4/2022 Maturity 12/20/2027 Industry Healthcare and Pharmaceuticals Current Coupon 9.56% Basis Point Spread Above Index SOFR+5252025-09-300001504619First Lien Secured Debt Issuer Name Sales Benchmark Index, LLC Acquisition 1/27/2021 Maturity 07/07/2026 Industry Professional Services Current Coupon 9.87% Basis Point Spread Above Index SOFR+6202025-10-012025-12-310001504619Subordinate Debt Issuer Name Integrative Nutrition, LLC Acquisition 4/17/2025 Maturity 4/15/2033 Industry Diversified Consumer Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Omnia Exterior Solutions, LLC Acquisition 12/29/2023 Maturity 12/31/2029 Industry Diversified Consumer Services Current Coupon 8.92% Basis Point Spread Above Index 3M SOFR+ 5252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt StoicLane, Inc. - Convertible Notes Acquisition 8/15/2024 Maturity 8/16/2027 Industry Healthcare Technology Current Coupon 12.00%2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Harris & Co. LLC. - Unfunded Term Loan B Acquisition 08/09/2024 Maturity 02/09/2026 Industry Professional Services2024-10-012025-09-300001504619us-gaap:AutomobilesMember2025-12-310001504619First Lien Secured Debt Issuer Name MBS Holdings, Inc. Acquisition 11/19/2025 Maturity 4/16/2027 Industry Internet Software and Services Current Coupon 8.92% Basis Point Spread Above Index SOFR+5102025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt C5MI Acquisition, LLC - Unfunded Revolver Acquisition 7/31/2024 Maturity 7/31/2029 Industry IT Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt Integrative Nutrition, LLC - Promissory Note Acquisition 4/17/2025 Maturity 04/15/2030 Industry Consumer Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ORL Acquisition, Inc. - Unfunded Revolver Acquisition 9/1/2021 Maturity 9/3/2027 Industry Consumer Finance2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt LAV Gear Holdings, Inc. Acquisition 7/31/2025 Maturity 07/31/2029 Industry Capital Equipment Current Coupon 10.10% (PIK 3.44%)2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt DRI Holding Inc. Acquisition 5/3/2024 Maturity 12/21/2028 Industry Media Current Coupon 9.51% Basis Point Spread Above Index 1M SOFR+ 5552025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Marketplace Events Acquisition, LLC Acquisition 12/19/2024 Maturity 12/19/2030 Industry Media Current Coupon 9.25% Basis Point Spread Above Index 3M SOFR+ 5252024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt The Vertex Companies, LLC - Unfunded Revolver Acquisition 8/25/2021 Maturity 08/31/2028 Industry Construction & Engineering2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt HEC Purchaser Corp. Acquisition 7/25/2024 Maturity 6/17/2029 Industry Healthcare, Education and Childcare Current Coupon 8.67% Basis Point Spread Above Index 3M SOFR+ 5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt C5MI Acquisition, LLC - Unfunded Revolver Acquisition 7/31/2024 Maturity 7/31/2029 Industry IT Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rancho Health MSO, Inc. - Funded Revolver Acquisition 12/20/2024 Maturity 6/20/2029 Industry Healthcare Equipment and Supplies Current Coupon 9.29% Basis Point Spread Above Index 3M SOFR+ 5002025-09-300001504619pflt:ClassC1SecuredDeferrableFloatingRateNotesDue2031Memberpflt:TwoThousandAndThirtyOneAssetBackedDebtMember2019-09-012019-09-300001504619First Lien Secured Debt Issuer Name Project Granite Buyer, Inc. Acquisition 5/22/2025 Maturity 12/31/2030 Industry Professional Services Current Coupon 9.75% Basis Point Spread Above Index SOFR+5752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt LJ Avalon Holdings, LLC Acquisition 1/18/2023 Maturity 02/01/2030 Industry Construction & Engineering Current Coupon 8.29% Basis Point Spread Above Index 3M SOFR+ 4502025-12-310001504619First Lien Secured Debt Issuer Name Big Top Holdings, LLC Acquisition 11/18/2025 Maturity 3/1/2030 Industry Construction and Engineering Current Coupon 8.92% Basis Point Spread Above Index SOFR+5252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Magnolia Topco, LP - Common Equity - Class B Acquisition 7/25/2023 Industry Automobiles2025-12-310001504619First Lien Secured Debt Issuer Name LAV Gear Holdings, Inc. - Takeback TL Acquisition 7/31/2025 Maturity 07/31/2029 Industry Capital Equipment Current Coupon 9.65% Basis Point Spread Above Index SOFR+5942025-12-310001504619us-gaap:FairValueInputsLevel3Member2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TransGo, LLC - Unfunded Revolver Acquisition 12/29/2023 Maturity 12/29/2028 Industry Auto Components2024-10-012024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Anteriad Holdings, LP (f/k/a MeritDirect Holdings, LP) - Common Equity Acquisition 5/21/2019 Industry Media2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt OSP Embedded Purchaser, LP - Convertible Note Acquisition 11/6/2024 Maturity 05/08/2030 Industry Aerospace and Defense Current Coupon 12.00%2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Paving Lessor Corp. - Unfunded Revolver Acquisition 7/1/2025 Maturity 07/01/2031 Industry Business Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Magnolia Topco, LP - Common Equity - Class A Acquisition 7/25/2023 Industry Automobiles2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity EvAL Home Health Solutions, LLC Acquisition 5/10/2024 Industry Healthcare, Education and Childcare2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Loving Tan Intermediate II, Inc. - Unfunded Revolver Acquisition 5/24/2023 Maturity 05/31/2028 Industry Personal Products2025-12-310001504619First Lien Secured Debt Issuer Name Commercial Fire Protection Holdings, LLC Acquisition 11/18/2025 Maturity 9/23/2030 Industry Commercial Services & Supplies Current Coupon 8.17% Basis Point Spread Above Index SOFR+4502025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Graffiti Buyer, Inc. Acquisition 3/15/2022 Maturity 8/10/2027 Industry Trading Companies & Distributors Current Coupon 9.80% Basis Point Spread Above Index SOFR+5602025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Inovex Information Systems Incorporated - Funded Revolver Acquisition 12/17/2024 Maturity 12/17/2030 Industry Software Current Coupon 11.25% Basis Point Spread Above Index 3M SOFR+ 4252025-12-310001504619Subordinate Debt Issuer Name Integrative Nutrition, LLC Acquisition 4/17/2025 Maturity 4/15/2030 Industry Diversified Consumer Services2025-09-300001504619First Lien Secured Debt Issuer Name STG Distribution, LLC - Second Out Term Loans Acquisition 5/22/2025 Maturity 10/3/2029 Industry Air Freight and Logistics Current Coupon 5.32%2024-10-012025-09-300001504619Subordinate Debt Issuer Name Integrative Nutrition, LLC Acquisition 4/17/2025 Maturity 4/15/2030 Industry Diversified Consumer Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity SP L2 Holdings, LLC - Unfunded Preferred Equity Acquisition 11/4/2021 Industry Leisure Products2025-12-310001504619us-gaap:FairValueInputsLevel3Memberus-gaap:EquityMethodInvestmentsMemberus-gaap:MeasurementInputEbitdaMultipleMembersrt:MaximumMemberpflt:ValuationTechniqueEnterpriseMarketValueMember2025-09-300001504619First Lien Secured Debt Issuer Name C5MI Acquisition, LLC Acquisition 3/7/2025 Maturity 7/31/2029 Industry IT Services Current Coupon 10.00% Basis Point Spread Above Index SOFR+6002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt CJX Borrower, LLC - Unfunded Revolver Acquisition 7/8/2021 Maturity 7/13/2027 Industry Media2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Meadowlark Acquirer, LLC - Funded Revolver Acquisition 12/9/2021 Maturity 12/10/2027 Industry Professional Services Current Coupon 9.32% Basis Point Spread Above Index 3M SOFR+ 5652025-10-012025-12-3100015046192025-09-300001504619pflt:PennantParkCLOVILLCMemberpflt:SubNotesMember2025-05-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Blackhawk Industrial Distribution, Inc. - Unfunded Revolver Acquisition 6/27/2022 Maturity 09/17/2026 Industry Distributors2025-09-300001504619First Lien Secured Debt Issuer Name Carnegie Dartlet, LLC Acquisition 4/11/2025 Maturity 2/7/2030 Industry Media: Advertising, Printing & Publishing Current Coupon 9.22% Basis Point Spread Above Index SOFR+5502025-10-012025-12-310001504619us-gaap:FairValueInputsLevel3Memberus-gaap:EquityMethodInvestmentsMembersrt:MinimumMemberus-gaap:MeasurementInputEbitdaMultipleMemberpflt:ValuationTechniqueEnterpriseMarketValueMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sales Benchmark Index, LLC - Unfunded Revolver Acquisition 12/23/2019 Maturity 7/7/2026 Industry Professional Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name By Light Professional IT Services, LLC Acquisition 8/28/2025 Maturity 7/15/2031 Industry High Tech Industries Current Coupon 9.66% Basis Point Spread Above Index SOFR+5502024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants SV-Aero Holdings, LLC - Common Equity Acquisition 12/6/2023 Industry Aerospace and Defense2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants OHCP V BC COI, LP - Common Equity Acquisition 12/13/2021 Industry Distributors2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt RRA Corporate, LLC - Funded Revolver Acquisition 8/15/2024 Maturity 8/15/2029 Industry Diversified Consumer Services Current Coupon 9.27% Basis Point Spread Above Index 3M SOFR+ 5252025-09-300001504619pflt:NetAssetsHundredPercentMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Penta Group Holdings, Inc. - Common Equity Acquisition 7/31/2025 Industry Professional Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt By Light Professional IT Services, LLC Acquisition 7/15/2025 Maturity 7/15/2031 Industry High Tech Industries Current Coupon 9.22% Basis Point Spread Above Index 1M SOFR+ 5502025-03-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Walker Edison Furniture Company, LLC - New Money DIP Acquisition 8/29/2025 Maturity 03/01/2029 Industry Wholesale Current Coupon 10.00%2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Medina Health, LLC - Unfunded Revolver Acquisition 10/16/2023 Maturity 10/20/2028 Industry Healthcare Providers and Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants A1 Garage Equity, LLC - Common Equity Acquisition 12/19/2022 Industry Commercial Services & Supplies2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Imagine Acquisitionco, Inc. - Unfunded Revolver Acquisition 11/4/2021 Maturity 11/16/2027 Industry Software2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Graffiti Buyer, Inc. - Unfunded Term Loan Acquisition 8/9/2021 Maturity 8/10/2027 Industry Trading Companies & Distributors2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Exigo Intermediate II, LLC Acquisition 11/21/2022 Maturity 03/15/2027 Industry Software Current Coupon 10.07% Basis Point Spread Above Index SOFR+6352025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Crane 1 Acquisition Parent Holdings, LP - Common Equity Acquisition 8/11/2021 Industry Commercial Services & Supplies2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt LJ Avalon Holdings, LLC - Unfunded Revolver Acquisition 1/18/2023 Maturity 02/01/2029 Industry Construction & Engineering2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Omnia Exterior Solutions, LLC - Unfunded Revolver Acquisitions 12/29/2023 Maturity 12/31/2029 Industry Diversified Consumer Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt LAV Gear Holdings, Inc. - Unfunded Revolver Acquisition 7/31/2025 Maturity 07/31/2029 Industry Capital Equipment2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt By Light Professional IT Services, LLC - Unfunded Revolver Acquisition 7/15/2025 Maturity 07/15/2031 Industry High Tech Industries2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Walker Edison Furniture Company, LLC - Unfunded Term Loan Acquisition 3/1/2023 Maturity 03/01/2029 Industry Wholesale2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt Beacon Behavioral Holdings, LLC Acquisition 6/21/2024 Maturity 06/21/2030 Industry Healthcare Providers and Services Current Coupon 15.00%2024-10-012024-12-310001504619pflt:TwoThousandAndThirtySevenAssetBackedDebtMemberpflt:ClassA1NotesMember2025-02-280001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Events TopCo, LP - Common Equity Acquisition 12/17/2024 Industry Event Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Ad.Net Holdings, Inc. - Preferred Equity Acquisition 5/4/2021 Industry Media2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Team Services Group, LLC Acquisition 2/23/2024 Maturity 12/20/2027 Industry Healthcare Providers and Services Current Coupon 9.09% Basis Point Spread Above Index 3M SOFR+ 5252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MBS Holdings, Inc. Acquisition 12/19/2024 Maturity 04/16/2027 Industry Internet Software and Services Current Coupon 8.92% Basis Point Spread Above Index 3M SOFR+ 5102025-10-012025-12-310001504619pflt:ClassA1RNotesMemberpflt:RTwoThousandAndThirtySixAssetBackedDebtMember2025-10-012025-12-310001504619pflt:TwoThousandAndThirtySevenAssetBackedDebtMember2025-09-300001504619Equity Securities Issuer Name 48Forty Intermediate Holdings, Inc. - Common Equity Acquisition 11/5/2024 Industry Containers and Packaging2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rural Sourcing Holdings, Inc. - Unfunded Revolver Acquisition 6/8/2023 Maturity 6/15/2029 Industry Professional Services2024-10-012025-09-300001504619pflt:TwoThousandTwentySixNotesPayableMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Penta Group Holdings, Inc. - Unfunded Term Loan Acquisition 7/31/2025 Maturity 07/31/2027 Industry Professional Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants UniTek Global Services, Inc. - Common Equity Acquisition 8/25/2021 Industry Telecommunications2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Municipal Emergency Services, Inc. - Unfunded Term Loan Acquisition 9/23/2021 Maturity 01/15/2026 Industry Distributors2025-09-300001504619pflt:TwoThousandAndThirtySevenAssetBackedDebtMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants C5MI Holdco, LLC - Common Equity Acquisition 7/31/2024 Industry IT Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Recteq, LLC - Unfunded Revolver Acquisition 1/27/2021 Maturity 1/29/2026 Industry Leisure Products2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt STG Distribution, LLC - Second Out Term Loans Acquisition 8/27/2025 Maturity 10/03/2029 Industry Air Freight and Logistics2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Magnolia Topco, LP - Preferred Equity - Class B Acquisition 7/25/2023 Industry Automobiles2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carnegie Dartlet, LLC Acquisition 2/7/2024 Maturity 2/7/2030 Industry Professional Services Current Coupon 9.22% Basis Point Spread Above Index 3M SOFR+ 5502025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Infinity Home Services Holdco, Inc. Acquisition 4/11/2023 Maturity 12/28/2028 Industry Commercial Services & Supplies Current Coupon 9.67% Basis Point Spread Above Index SOFR+6002025-12-310001504619pflt:C2NotesMemberpflt:RTwoThousandAndThirtySixAssetBackedDebtMember2024-07-250001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity AFC Acquisitions, Inc. Preferred Equity - Series H-2 Acquisition 12/7/2023 Industry Distributors2025-09-300001504619First Lien Secured Debt Issuer Name Ro Health, LLC Acquisition 3/3/2025 Maturity 01/17/2031 Industry Healthcare Providers and Services Current Coupon 8.17% Basis Point Spread Above Index SOFR+4502025-12-310001504619First Lien Secured Debt Issuer Name Halo Buyer, Inc. Acquisition 5/22/2025 Maturity 8/7/2029 Industry Consumer Products Current Coupon 10.16% Basis Point Spread Above Index SOFR+6002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carnegie Dartlet, LLC - Unfunded Term Loan Acquisition 2/7/2024 Maturity 2/9/2026 Industry Professional Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Team Services Group, LLC Acquisition 2/23/2024 Maturity 12/20/2027 Industry Healthcare Providers and Services Current Coupon 9.09% Basis Point Spread Above Index 3M SOFR+ 5252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ACP Falcon Buyer, LLC - Unfunded Revolver Acquisition 7/26/2023 Maturity 08/01/2029 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Wash & Wax Systems, LLC Acquisition 4/30/2025 Maturity 04/30/2028 Industry Consumer Services Current Coupon 9.34% Basis Point Spread Above Index 3M SOFR+ 5502025-10-012025-12-310001504619pflt:MarketplaceEventsLLCMember2024-10-012024-12-310001504619us-gaap:SubordinatedDebtMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Seacoast Service Partners, LLC - Common Equity Acquisition 10/31/2024 Industry Diversified Consumer Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Arcfield Acquisition Corp. - Unfunded Revolver Acquisition 10/28/2024 Maturity 10/28/2031 Industry Aerospace and Defense2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants FedHC InvestCo, LP - Unfunded Common Equity Acquisition 8/26/2021 Industry Aerospace and Defense2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Quad (U.S.) Co-Invest, LP - Common Equity Acquisition 10/3/2022 Industry Professional Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Watchtower Buyer, LLC Acquisition 5/20/2024 Maturity 12/3/2029 Industry Diversified Consumer Services Current Coupon 10.00% Basis Point Spread Above Index SOFR+6002024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Sath Industries, LLC Acquisition 4/10/2025 Maturity 12/17/2029 Industry Event Services Current Coupon 9.17% Basis Point Spread Above Index SOFR+5502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ro Health, LLC - Unfunded Revolver Acquisition 1/16/2025 Maturity 01/17/2031 Industry Healthcare Providers and Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Magnolia Topco, LP - Preferred Equity - Class A Acquisition 7/25/2023 Industry Automobiles2024-10-012025-09-300001504619pflt:SecondLienSecuredDebtMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Podean Buyer, LLC Acquisition 8/4/2025 Maturity 8/4/2031 Industry Marketing Services Current Coupon 10.00% Basis Point Spread Above Index 3M SOFR+ 6002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt DRS Holdings III, Inc. - Unfunded Revolver Acquisition 10/29/2019 Maturity 11/1/2028 Industry Personal Products2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Marketplace Events Acquisition, LLC - Funded Revolver Acquisition 12/19/2024 Maturity 12/19/2030 Industry Media Current Coupon 8.99% Basis Point Spread Above Index 3M SOFR+ 5252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MES Intermediate, Inc. Acquisition 9/23/2021 Maturity 10/01/2027 Industry Distributors Current Coupon 8.42% Basis Point Spread Above Index 3M SOFR+ 4752025-12-310001504619Equity Securities Issuer Name New Insight Holdings, Inc. - Common Equity Acquisition 7/15/2024 Industry Diversified Consumer Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Podean Intermediate II, LLC - Common Equity Acquisition 8/4/2025 Industry Marketing Services2025-09-300001504619First Lien Secured Debt Issuer Name Global Holdings InterCo, LLC Acquisition 6/8/2021 Maturity 3/16/2026 Industry Diversified Financial Services Current Coupon 9.74% Basis Point Spread Above Index SOFR+5602025-09-300001504619us-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Puget Collision, LLC - Unfunded Revolver Acquisition 10/3/2025 Maturity 10/03/2031 Industry Automobiles2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ORL Acquisition, Inc. Acquisition 9/1/2021 Maturity 09/03/2027 Industry Consumer Finance Current Coupon 13.07% (PIK 7.50%) Basis Point Spread Above Index 3M SOFR+ 9402025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Duggal Acquisition, LLC - Unfunded Term Loan Acquisition 9/30/2024 Maturity 9/30/2026 Industry Marketing Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Gauge ETE Blocker, LLC Acquisition 05/24/2023 Maturity 05/21/2029 Industry Diversified Consumer Services Current Coupon 12.56%2025-09-300001504619pflt:TwoThousandAndThirtySevenAssetBackedDebtMemberpflt:ClassCNotesMember2025-02-280001504619First Lien Secured Debt Issuer Name Crane 1 Services, Inc. Acquisition 4/11/2023 Maturity 8/16/2027 Industry Commercial Services & Supplies Current Coupon 10.03% Basis Point Spread Above Index SOFR+5862025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Safe Haven Defense US, LLC Acquisition 5/23/2024 Maturity 05/23/2029 Industry Building Products Current Coupon 9.28% Basis Point Spread Above Index 3M SOFR+ 5502025-12-310001504619us-gaap:FairValueInputsLevel2Member2025-12-310001504619First Lien Secured Debt Issuer Name Dynata, LLC - First Out Term Loan Acquisition 7/15/2024 Maturity 7/17/2028 Industry Diversified Consumer Services Current Coupon 9.46% Basis Point Spread Above Index SOFR+5262024-10-012025-09-300001504619pflt:ClassBRNotesMemberpflt:RTwoThousandAndThirtySixAssetBackedDebtMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carisk Buyer, Inc. - Unfunded Revolver Acquisition 11/27/2023 Maturity 12/3/2029 Industry Healthcare Technology2025-03-310001504619us-gaap:FairValueInputsLevel3Memberpflt:ValuationTechniqueMarketComparableMembersrt:MinimumMemberus-gaap:MeasurementInputRevenueMultipleMemberpflt:FirstLienMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sabel Systems Technology Solutions, LLC Acquisition 10/31/2024 Maturity 10/31/2030 Industry Government Services Current Coupon 9.72% Basis Point Spread Above Index 3M SOFR+ 6002025-10-012025-12-310001504619pflt:RTwoThousandAndThirtySixAssetBackedDebtMemberpflt:B2NotesMember2024-07-250001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Imagine Topco. LP - Preferred Equity Acquisition 11/4/2021 Industry Software Current Coupon 8.00%2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name MBS Holdings, Inc. Acquisition 6/8/2021 Maturity 04/16/2027 Industry Internet Software and Services Current Coupon 8.92% Basis Point Spread Above Index SOFR+5102025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt AFC-Dell Holding Corp. - Unfunded Revolver Acquisition 2/22/2024 Maturity 10/09/2028 Industry Distributors2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Tyto Athene, LLC Acquisition 3/26/2021 Maturity 04/03/2028 Industry IT Services Current Coupon 8.56% Basis Point Spread Above Index 3M SOFR+ 4902024-10-012024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt LJ Avalon Holdings, LLC - Unfunded Term Loan Acquisition 1/18/2023 Maturity 02/08/2027 Industry Construction & Engineering2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Confluent Health, LLC Acquisition 3/25/2024 Maturity 11/30/2028 Industry Healthcare Providers and Services Current Coupon 8.28% Basis Point Spread Above Index 1M SOFR+ 4002025-09-300001504619First Lien Secured Debt Issuer Name Graffiti Buyer, Inc. Acquisition 3/15/2022 Maturity 08/10/2027 Industry Trading Companies & Distributors Current Coupon 9.42% Basis Point Spread Above Index SOFR+5602025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity UniTek Global Services, Inc. - Super Senior Preferred Equity Acquisition 1/13/2015 Industry Telecommunications Coupon 20.00%2025-09-300001504619pflt:TwoThousandAndThirtyOneAssetBackedDebtMemberpflt:ClassA2SeniorSecuredFixedRateNotesDue2031Member2019-09-012019-09-300001504619First Lien Secured Debt Issuer Name Transgo, LLC Acquisition 11/18/2025 Maturity 12/29/2028 Industry Auto Components Current Coupon 9.47% Basis Point Spread Above Index SOFR+5752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Municipal Emergency Services, Inc. Acquisition 9/23/2021 Maturity 10/01/2027 Industry Distributors Current Coupon 9.15% Basis Point Spread Above Index 3M SOFR+ 5152025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity UniTek Global Services, Inc. - Preferred Equity Acquisition 1/13/2015 Industry Telecommunications Coupon 13.50%2025-09-300001504619pflt:TwoThousandAndThirtySixAssetBackedDebtMemberpflt:SecuredOvernightFinancingRateMemberpflt:ClassA1SeniorSecuredFloatingRateLoansMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ACP Avenu Buyer, LLC - Unfunded Revolver Acquisition 10/2/2023 Maturity 10/02/2029 Industry IT Services2025-10-012025-12-310001504619pflt:HealthcareEducationAndChildcareMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt DRI Holding Inc. Acquisition 5/23/2024 Maturity 12/21/2028 Industry Media Current Coupon 9.07% Basis Point Spread Above Index 1M SOFR+ 5352025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Lash OpCo, LLC Acquisition 8/16/2021 Maturity 02/18/2027 Industry Personal Products Current Coupon 8.82% (PIK 5.10%) Basis Point Spread Above Index 1M SOFR+ 5102025-12-310001504619srt:MaximumMember2025-12-310001504619First Lien Secured Debt Issuer Name Beacon Behavioral Support Services, LLC Acquisition 11/18/2025 Maturity 6/21/2029 Industry Healthcare Providers & Services Current Coupon 9.17% Basis Point Spread Above Index SOFR+5502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt CJX Borrower, LLC - Unfunded Revolver Acquisition 7/8/2021 Maturity 07/13/2027 Industry Media2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sales Benchmark Index, LLC - Funded Revolver Acquisition 12/23/2019 Maturity 07/07/2026 Industry Professional Services Current Coupon 9.87% Basis Point Spread Above Index 3M SOFR+ 6202025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Spendmend Holdings, LLC Acquisition 3/1/2022 Maturity 03/01/2028 Industry Healthcare Technology Current Coupon 9.15% Basis Point Spread Above Index 3M SOFR+ 5152025-09-300001504619First Lien Secured Debt Issuer Name Sigma Defense Systems, LLC Acquisition 12/27/2021 Maturity 12/20/2027 Industry Aerospace and Defense Current Coupon 10.31% Basis Point Spread Above Index SOFR+6152025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Eval Home Care Solutions Intermediate, LLC - Unfunded Revolver Acquisition 5/10/2024 Maturity 5/10/2030 Industry Healthcare, Education and Childcare2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity AFC Acquisitions, Inc. Preferred Equity - Series H-2 Acquisition 12/7/2023 Industry Distributors2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Burgess Point Purchaser Corporation Acquisition 8/12/2024 Maturity 7/25/2029 Industry Auto Components Current Coupon 9.19% Basis Point Spread Above Index 3M SOFR+ 5352025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Tinicum Space Coast Co-Invest, LLC Acquisition 10/29/2024 Industry Aerospace and Defense2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Crane 1 Services, Inc. Acquisition 8/11/2021 Maturity 8/16/2027 Industry Commercial Services & Supplies Current Coupon 9.08% Basis Point Spread Above Index 3M SOFR+ 5252025-10-012025-12-310001504619First Lien Secured Debt Issuer Name RTIC Subsidiary Holdings, LLC Acquisition 11/1/2024 Maturity 05/03/2029 Industry Leisure Products Current Coupon 9.42% Basis Point Spread Above Index SOFR+5752025-12-310001504619First Lien Secured Debt Issuer Name Sabel Systems Technology Solutions, LLC Acquisition 11/11/2024 Maturity 10/31/2030 Industry Government Services Current Coupon 9.72% Basis Point Spread Above Index SOFR+6002025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Arcfield Acquisition Corp. Acquisition 11/11/2024 Maturity 10/28/2031 Industry Aerospace and Defense Current Coupon 9.31% Basis Point Spread Above Index SOFR+5002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Urology Partners Co., LP - Common Equity Acquisition 1/20/2023 Industry Healthcare Providers and Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants NEPRT Parent Holdings, LLC - Common Equity Acquisition 1/27/2021 Industry Leisure Products2025-10-012025-12-310001504619pflt:SoftwareMember2025-12-310001504619pflt:AtTheMarketOfferingMember2024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Seacoast Service Partners NA, LLC - Unfunded Revolver Acquisition 12/20/2024 Maturity 12/20/2029 Industry Diversified Consumer Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt SV-Aero Holdings, LLC - Unfunded Term Loan Acquisition 10/31/2024 Maturity 11/02/2026 Industry Aerospace and Defense2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Altamira Parent Holdings, LLC - Common Equity Acquisition 7/23/2019 Industry IT Services2025-10-012025-12-310001504619us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2024-10-012024-12-310001504619First Lien Secured Debt Issuer Name BLC Holding Company, Inc. Acquisition 4/10/2025 Maturity 11/20/2030 Industry Business Services Current Coupon 8.50% Basis Point Spread Above Index SOFR+4502025-09-300001504619First Lien Secured Debt Issuer Name ORL Acquisition, Inc. Acquisition 5/22/2025 Maturity 09/03/2027 Industry Consumer Finance Current Coupon 13.07% Basis Point Spread Above Index SOFR+9402025-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:TwoThousandThirtySevenAssetBackedDebtMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MDI Buyer, Inc. - Funded Revolver Acquisition 7/19/2022 Maturity 07/25/2028 Industry Commodity Chemicals Current Coupon 11.50% Basis Point Spread Above Index 3M SOFR+ 4002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ETE Intermediate II, LLC Acquisition 5/24/2023 Maturity 5/29/2029 Industry Diversified Consumer Services Current Coupon 8.72% Basis Point Spread Above Index 3M SOFR+ 5002025-10-012025-12-310001504619pflt:NonMoneyMarketMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Hills Distribution, Inc. Acquisition 11/2/2023 Maturity 11/8/2029 Industry Distributors Current Coupon 9.19% Basis Point Spread Above Index 1M SOFR+ 5502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Connatix Parent, LLC Acquisition 7/8/2021 Industry Media2025-12-310001504619First Lien Secured Debt Issuer Name Carnegie Dartlet, LLC Acquisition 4/11/2025 Maturity 2/7/2030 Industry Media: Advertising, Printing & Publishing Current Coupon 9.66% Basis Point Spread Above Index SOFR+5502025-09-300001504619us-gaap:FairValueInputsLevel2Memberpflt:TwoThousandThirtySixRAssetBackedDebtMember2025-12-310001504619pflt:HamiltonLaneMember2025-12-310001504619pflt:IncentiveFeePaymentConditionTwoMember2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Output Services Group, Inc. - First-Out Term Loan Acquisition 12/1/2023 Maturity 11/30/2028 Industry Business Services Current Coupon 12.71% Basis Point Spread Above Index SOFR+8432024-10-012025-09-300001504619First Lien Secured Debt Issuer Name DRS Holdings III, Inc. Acquisition 1/27/2021 Maturity 11/01/2028 Industry Consumer Goods: Durable Current Coupon 8.97% Basis Point Spread Above Index SOFR+5252025-12-310001504619First Lien Secured Debt Issuer Name Sabel Systems Technology Solutions, LLC Acquisition 11/11/2024 Maturity 10/31/2030 Industry Government Services Current Coupon 9.72% Basis Point Spread Above Index SOFR+6002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants GCP Boss Holdco, LLC Acquisition 12/27/2024 Industry Independent Power and Renewable Electricity Producers2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Spendmend Holdings, LLC - Funded Revolver Acquisition 3/1/2022 Maturity 03/01/2028 Industry Healthcare Technology Current Coupon 9.15% Basis Point Spread Above Index 3M SOFR+ 5152024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Aechelon Technology, Inc. - Unfunded Revolver Acquisition 8/16/2024 Maturity 08/16/2029 Industry Aerospace and DefenseInvestments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Aechelon Technology, Inc. - Unfunded Revolver Acquisition 8/16/2024 Maturity 08/16/2029 Industry Aerospace and Defense2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt HW Holdco, LLC - Unfunded Revolver Acquisition 1/9/2019 Maturity 5/11/2026 Industry Media2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MOREgroup Holdings, Inc. Acquisition 1/9/2024 Maturity 01/16/2030 Industry Construction & Engineering Current Coupon 8.94% Basis Point Spread Above Index 3M SOFR+ 5252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Infinity Home Services Holdco, Inc. Acquisition 12/21/2022 Maturity 12/28/2028 Industry Commercial Services & Supplies Current Coupon 10.00% Basis Point Spread Above Index 3M SOFR+ 6002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt BLC Holding Company, Inc. - Unfunded Term Loan Acquisition 11/20/2024 Maturity 11/20/2026 Industry Business Services2025-09-300001504619us-gaap:InvestmentUnaffiliatedIssuerMember2024-10-012024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Infinity Home Services Holdco, Inc. - Unfunded Term Loan Acquisition 12/21/2022 Maturity 10/30/2026 Industry Commercial Services & Supplies2025-09-300001504619pflt:PennantParkSeniorSecuredLoanFundTwoLLCMember2024-10-012024-12-310001504619First Lien Secured Debt Issuer Name Confluent Health, LLC Acquisition 1/12/2024 Maturity 11/30/2028 Industry Healthcare and Pharmaceuticals Current Coupon 11.66% Basis Point Spread Above Index SOFR+7502024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Wash & Wax Group, LP - Common Equity Acquisition 1/13/2015 Industry Consumer Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Seacoast Service Partners NA, LLC - Unfunded Term Loan Acquisition 12/20/2024 Maturity 12/21/2026 Industry Diversified Consumer Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Omnia Exterior Solutions, LLC - Funded Revolver Acquisition 12/29/2023 Maturity 12/31/2029 Industry Diversified Consumer Services Current Coupon 8.97% Basis Point Spread Above Index 1M SOFR+ 5252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Gauge ETE Blocker, LLC - Common Equity Acquisition 5/24/2023 Industry Diversified Consumer Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Connatix Parent, LLC - Common Equity Acquisition 7/8/2021 Industry Media2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Megawatt Acquisitionco, Inc. Acquisition 3/1/2024 Maturity 03/01/2030 Industry Electronic Equipment, Instruments, and Components Current Coupon 9.17% Basis Point Spread Above Index 3M SOFR+ 5502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity TPC Holding Company, LP - Preferred Equity Acquisition 12/4/2019 Industry Food Products2025-09-300001504619us-gaap:FairValueInputsLevel1Memberpflt:TwoThousandTwentySixNotesPayableMember2025-09-300001504619First Lien Secured Debt Issuer Name Output Services Group, Inc. - Last-Out Term Loan Acquisition 12/1/2023 Maturity 5/30/2028 Industry Business Services Current Coupon 10.96% Basis Point Spread Above Index SOFR+6682025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ledge Lounger, Inc. - Funded Revolver Acquisition 2/07/2022 Maturity 11/09/2026 Industry Leisure Products Current Coupon 11.65% (PIK 1.00%) Basis Point Spread Above Index 3M SOFR+ 7652024-10-012025-09-300001504619pflt:TwoThousandAndThirtySixAssetBackedDebtMemberpflt:ClassB1SeniorSecuredFloatingRateNotesDue2036Member2024-02-290001504619pflt:SubordinateDebtMemberus-gaap:FairValueInputsLevel1Member2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Efficient Collaborative Retail Marketing Company, LLC Acquisition 10/23/2018 Maturity 9/30/2026 Industry Media: Diversified and Production Current Coupon 10.68% (PIK 2.5%) Basis Point Spread Above Index 3M SOFR+ 7012025-10-012025-12-310001504619pflt:TruistCreditFacilityMembersrt:MaximumMember2025-04-012025-04-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Anteriad, LLC (f/k/a MeritDirect, LLC) - Incremental Term Loan Acquisition 5/21/2019 Maturity 06/30/2026 Industry Media Current Coupon 9.57% Basis Point Spread Above Index 3M SOFR+ 5902025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Penta Group Holdings, Inc. Acquisition 9/8/2025 Maturity 7/31/2031 Industry Professional Services Current Coupon 8.81% Basis Point Spread Above Index SOFR+4502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ledge Lounger, Inc. Acquisition 02/07/2022 Maturity 11/09/2026 Industry Leisure Products Current Coupon 11.65% (PIK 1.00%) Basis Point Spread Above Index 3M SOFR+ 7652024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants GMP Hills, LP - Common Equity Acquisition 11/2/2023 Industry Distributors2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants TCG 3.0 Jogger Co-Invest, LP - Common Equity Acquisition 12/6/2023 Industry Media2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Systems Planning And Analysis, Inc. - Funded Revolver Acquisition 10/12/2021 Maturity 08/16/2027 Industry Aerospace and Defense Current Coupon 8.50% Basis Point Spread Above Index 3M SOFR+ 4752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cornerstone Advisors of Arizona, LLC Acquisition 5/13/2025 Maturity 05/13/2032 Industry Consulting Services Current Coupon 8.75% Basis Point Spread Above Index 3M SOFR+ 4752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Puget Collision, LLC - Unfunded Term Loan Acquisition 10/3/2025 Maturity 10/03/2027 Industry Automobiles2025-10-012025-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:LongTermCreditFacilityMember2024-10-012024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Kinetic Purchaser, LLC - Unfunded Revolver Acquisition 11/8/2021 Maturity 11/10/2026 Industry Personal Products2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TPC US Parent, LLC Acquisition 11/15/2019 Maturity 02/23/2026 Industry Food Products Current Coupon 9.48% Basis Point Spread Above Index 3M SOFR+ 5902025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt GGG Midco, LLC Acquisition 09/27/2024 Maturity 09/27/2030 Industry Diversified Consumer Services Current Coupon 9.00% Basis Point Spread Above Index 3M SOFR+ 5002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Help/Systems Holdings, Inc. Acquisition 8/27/2025 Maturity 11/30/2026 Industry Software Current Coupon 9.97% Basis Point Spread Above Index 3M SOFR+ 6102025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Rural Sourcing Holdings, Inc. Acquisition 9/6/2023 Maturity 6/15/2029 Industry High Tech Industries Current Coupon 9.92% Basis Point Spread Above Index SOFR+5752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Kinetic Purchaser, LLC Acquisition 11/08/2021 Maturity 11/10/2027 Industry Personal Products Current Coupon 10.19% Basis Point Spread Above Index 3M SOFR+ 6152024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Loving Tan Intermediate II, Inc. Acquisition 5/24/2023 Maturity 05/31/2028 Industry Personal Products Current Coupon 8.67% Basis Point Spread Above Index 3M SOFR+ 5002025-12-310001504619First Lien Secured Debt Issuer Name HW Holdco, LLC Acquisition 4/11/2023 Maturity 5/11/2026 Industry Media Current Coupon 9.90% Basis Point Spread Above Index SOFR+5902025-09-300001504619First Lien Secured Debt Issuer Name Walker Edison Furniture Company, LLC - Unfunded Term Loan Acquisition 8/29/2025 Maturity 3/1/2029 Industry Wholesale2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Capital Construction, LLC Acquisition 8/28/2025 Maturity 10/22/2026 Industry Consumer Services Current Coupon 9.89% Basis Point Spread Above Index SOFR+5902025-09-300001504619First Lien Secured Debt Issuer Name Carnegie Dartlet, LLC Acquisition 4/11/2025 Maturity 2/7/2030 Industry Media: Advertising, Printing & Publishing Current Coupon 9.22% Basis Point Spread Above Index SOFR+5502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants OSP PAR Aggregator, LP - Common Equity Acquisition 9/3/2024 Industry Healthcare Technology2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carnegie Dartlet, LLC - Unfunded Term Loan Acquisition 2/7/2024 Maturity 2/9/2026 Industry Professional Services2025-12-3100015046192025-10-290001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Seaway Topco, LP - Common Equity Acquisition 10/31/2024 Industry Chemicals, Plastics and Rubber2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Systems Planning And Analysis, Inc. - Funded Revolver Acquisition 10/12/2021 Maturity 08/16/2027 Industry Aerospace and Defense Current Coupon 8.50% Basis Point Spread Above Index 3M SOFR+ 4752025-12-310001504619First Lien Secured Debt Issuer Name Burgess Point Purchaser Corporation Acquisition 10/3/2022 Maturity 7/25/2029 Industry Automotive Current Coupon 9.51% Basis Point Spread Above Index SOFR+5352025-09-300001504619First Lien Secured Debt Issuer Name Harris & Co, LLC Acquisition 11/18/2025 Maturity 8/9/2030 Industry Professional Services Current Coupon 8.72% Basis Point Spread Above Index SOFR+5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Infolinks Media Buyco, LLC Acquisition 2/22/2024 Maturity 11/02/2026 Industry Media Current Coupon 9.50% Basis Point Spread Above Index 3M SOFR+ 5502025-09-300001504619pflt:LongTermCreditFacilityMember2024-10-012024-12-310001504619pflt:CashTwentySevenPointZeroPercentOfNetAssetsMemberus-gaap:CashMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Argano, LLC Acquisition 9/13/2024 Maturity 09/13/2029 Industry Business Services Current Coupon 9.89% Basis Point Spread Above Index 3M SOFR+ 5752024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Municipal Emergency Services, Inc. Acquisition 4/11/2023 Maturity 10/1/2027 Industry Distributors Current Coupon 9.15% Basis Point Spread Above Index SOFR+5152024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Systems Planning And Analysis, Inc. Acquisition 11/20/2025 Maturity 8/16/2027 Industry Aerospace and Defense Current Coupon 8.46% Basis Point Spread Above Index SOFR+4752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Boss Industries, LLC - Unfunded Revolver Acquisition 12/27/2024 Maturity 12/27/2030 Industry Independent Power and Renewable Electricity Producers2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants QuantiTech InvestCo II, LP - Common Equity Acquisition 5/1/2020 Industry Aerospace and Defense2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Duggal Acquisition, LLC Acquisition 9/30/2024 Maturity 09/30/2030 Industry Marketing Services Current Coupon 8.75% Basis Point Spread Above Index 3M SOFR+ 4752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Consello Pacific Aggregator, LLC - Preferred Equity Acquisition 10/2/2023 Industry Professional Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Delta InvestCo, LP - Unfunded Common Equity Acquisition 12/16/2020 Industry IT Services2025-09-300001504619First Lien Secured Debt Issuer Name Watchtower Buyer, LLC Acquisition 5/20/2024 Maturity 12/3/2029 Industry Diversified Consumer Services Current Coupon 10.00% Basis Point Spread Above Index SOFR+6002025-09-300001504619us-gaap:FairValueInputsLevel3Memberpflt:TwoThousandAndThirtySixAssetBackedDebtMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Seacoast Service Partners NA, LLC Acquisition 12/20/2024 Maturity 12/20/2029 Industry Diversified Consumer Services Current Coupon 9.01% Basis Point Spread Above Index 3M SOFR+ 5002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Beacon Behavioral Support Services, LLC - Unfunded Term Loan - 3rd Amendment Acquisition 6/21/2024 Maturity 06/21/2027 Industry Healthcare Providers and Services2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Boss Industries, LLC Acquisition 4/10/2025 Maturity 12/27/2030 Industry Independent Power and Renewable Electricity Producers Current Coupon 9.00% Basis Point Spread Above Index SOFR+5002024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Wash & Wax Systems LLC Acquisition 4/30/2025 Maturity 4/30/2028 Industry Automobiles Current Coupon 9.81% Basis Point Spread Above Index SOFR+5502025-09-300001504619First Lien Secured Debt Issuer Name Anteriad, LLC (f/k/a MeritDirect, LLC) - Incremental Term Loan Acquisition 4/11/2023 Maturity 6/30/2026 Industry Media: Advertising, Printing & Publishing Current Coupon 9.90% Basis Point Spread Above Index SOFR+5752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants HV Watterson Holdings, LLC - Common Equity Acquisition 6/13/2022 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt RTIC Subsidiary Holdings, LLC Acquisition 5/3/2024 Maturity 05/03/2029 Industry Leisure Products Current Coupon 9.42% Basis Point Spread Above Index 3M SOFR+ 5752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Omnia Exterior Solutions, LLC Acquisitions 12/29/2023 Maturity 12/31/2029 Industry Diversified Consumer Services Current Coupon 9.25% Basis Point Spread Above Index 3M SOFR+ 5252024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Aechelon Technology, Inc. Acquisition 8/16/2024 Maturity 08/16/2029 Industry Aerospace and Defense Current Coupon 9.48% Basis Point Spread Above Index 1M SOFR+ 5752025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Sales Benchmark Index, LLC Acquisition 1/27/2021 Maturity 07/07/2026 Industry Professional Services Current Coupon 9.87% Basis Point Spread Above Index SOFR+6202025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Anteriad Holdings, LP (f/k/a MeritDirect Holdings, LP) - Common Equity Acquisition 5/21/2019 Industry Media2025-12-310001504619Investments in Controlled, Affiliated Portfolio Companies Equity InterestsPennantPark Senior Secured Loan Fund II LLC - Common Equity Acquisition 11/18/2025 Industry Financial Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Pink Lilly Holdco, LLC - Funded Revolver Acquisition 11/5/2021 Maturity 11/09/2027 Industry Textiles, Apparel and Luxury Goods2025-10-012025-12-310001504619pflt:TwoThousandAndTwentySixNotesTwoMember2025-10-012025-12-310001504619pflt:TotalInvestmentsMember2025-09-300001504619First Lien Secured Debt Issuer Name Hills Distribution, Inc. Acquisition 5/3/2024 Maturity 11/08/2029 Industry Business Services Current Coupon 9.19% Basis Point Spread Above Index SOFR+5502025-12-310001504619pflt:CommonEquityWarrantsMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-09-300001504619First Lien Secured Debt Issuer Name Podean Buyer, LLC Acquisition 8/4/2025 Maturity 08/29/2031 Industry Marketing Services Current Coupon 9.66% Basis Point Spread Above Index SOFR+6002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Burgess Point Holdings, LP - Common Equity Acquisition 7/21/2022 Industry Auto Components2024-10-012025-09-3000015046192024-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Beacon Behavioral Support Services, LLC - Unfunded Revolver Acquisition 6/21/2024 Maturity 06/21/2029 Industry Healthcare Providers and Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants PCS Parent, LP Acquisition 3/1/2024 Industry Professional Services2025-09-300001504619First Lien Secured Debt Issuer Name LJ Avalon Holdings, LLC Acquisition 4/11/2023 Maturity 02/01/2030 Industry Environmental Industries Current Coupon 8.46% Basis Point Spread Above Index SOFR+4502025-12-310001504619pflt:TwoThousandAndThirtySevenAssetBackedDebtMemberpflt:SubordinatedNotesMember2025-10-012025-12-310001504619pflt:BlackRockFederalFDInstitutionalEightyOneMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sath Industries, LLC Acquisition 12/17/2024 Maturity 12/17/2029 Industry Event Services Current Coupon 9.54% Basis Point Spread Above Index 3M SOFR+ 5502024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Halo Buyer, Inc. - Unfunded Revolver Acquisition 02/07/2025 Maturity 08/07/2029 Industry Consumer products2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt APT OPCO, LLC - Unfunded Term Loan Acquisition 9/29/2025 Maturity 09/30/2027 Industry Healthcare Providers and Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Capital Construction, LLC Acquisition 8/28/2025 Maturity 10/22/2026 Industry Consumer Services Current Coupon 9.89% Basis Point Spread Above Index SOFR+5902025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Exigo Intermediate II, LLC Acquisition 11/21/2022 Maturity 03/15/2027 Industry Software Current Coupon 10.07% Basis Point Spread Above Index SOFR+6352025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt CJX Borrower, LLC - Unfunded Revolver Acquisition 7/8/2021 Maturity 07/13/2027 Industry Media2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Systems Planning And Analysis, Inc. Acquisition 3/15/2022 Maturity 08/16/2027 Industry Aerospace and Defense Current Coupon 8.42% Basis Point Spread Above Index SOFR+4752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Paving Lessor Corp. Acquisition 7/1/2025 Maturity 07/01/2031 Industry Business Services Current Coupon 8.94% Basis Point Spread Above Index 3M SOFR+ 5252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Consello Pacific Aggregator, LLC - Preferred Equity Acquisition 10/2/2023 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Events TopCo, LP - Common Equity Acquisition 12/17/2024 Industry Event Services2025-12-310001504619pflt:CashSeventeenPointNinePercentOfNetAssetsMemberus-gaap:CashMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity ORL Holdco, Inc. - Preferred Equity Acquisition 9/1/2021 Industry Consumer Finance2025-09-300001504619us-gaap:MoneyMarketFundsMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants WCP Ivyrehab Coinvestment, LP - Unfunded Common Equity Acquisition 6/27/2022 Industry Healthcare Providers and Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Ro Health Holdings, Inc. - Common Equity Acquisition 5/1/2020 Industry Healthcare Providers and Services2025-12-310001504619First Lien Secured Debt Issuer Name MDI Buyer, Inc. Acquisition 4/11/2023 Maturity 07/25/2028 Industry Chemicals, Plastics and Rubber Current Coupon 8.57% Basis Point Spread Above Index SOFR+4752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Lash OpCo, LLC Acquisition 8/16/2021 Maturity 02/18/2027 Industry Personal Products Current Coupon 12.16% (PIK 5.10%) Basis Point Spread Above Index 1M SOFR+ 7852025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Megawatt Acquisitionco, Inc. Acquisition 3/1/2024 Maturity 03/01/2030 Industry Electronic Equipment, Instruments, and Components Current Coupon 9.17% Basis Point Spread Above Index 3M SOFR+ 5502025-12-310001504619pflt:ClassCRNotesMemberpflt:RTwoThousandAndThirtySixAssetBackedDebtMember2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Lightspeed Buyer, Inc. Acquisition 1/27/2021 Maturity 2/3/2027 Industry Healthcare Providers and Services Current Coupon 8.75% Basis Point Spread Above Index SOFR+4752024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Team Services Group, LLC Acquisition 10/4/2022 Maturity 12/20/2027 Industry Healthcare and Pharmaceuticals Current Coupon 9.09% Basis Point Spread Above Index SOFR+5252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Five Star Parent Holdings, LLC - Common Equity Acquisition 2/21/2023 Industry Hotels, Restaurants and Leisure2025-10-012025-12-310001504619us-gaap:FairValueInputsLevel1Memberpflt:FirstLienMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Anteriad, LLC (f/k/a MeritDirect, LLC) - Unfunded Revolver Acquisition 5/21/2019 Maturity 06/30/2026 Industry Media2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Impact Advisors, LLC - Unfunded Revolver Acquisition 3/21/2025 Maturity 03/19/2032 Industry Business Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rancho Health MSO, Inc. - Funded Revolver Acquisition 12/20/2024 Maturity 6/20/2029 Industry Healthcare Equipment and Supplies Current Coupon 9.29% Basis Point Spread Above Index 3M SOFR+ 5002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants TWD Parent Holdings, LLC - Common Equity Acquisition 10/27/2021 Industry Construction & Engineering2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Project Granite Buyer, Inc. - Unfunded Term Loan Acquisition 12/31/2024 Maturity 12/31/2026 Industry Professional Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants TAC Lifeport Holdings, LLC - Common Equity Acquisition 8/17/2021 Industry Aerospace and Defense2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Duggal Acquisition, LLC - Unfunded Revolver Acquisition 9/30/2024 Maturity 9/30/2030 Industry Marketing Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Alpine Acquisition Corp II Acquisition 8/27/2025 Maturity 11/30/2026 Industry Containers and Packaging2025-10-012025-12-310001504619us-gaap:InvestmentAffiliatedIssuerControlledMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TMII Enterprises, LLC - Unfunded Revolver Acquisition 12/19/2022 Maturity 12/22/2028 Industry Commercial Services & Supplies2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Halo Buyer, Inc. - Funded Revolver Acquisition 2/7/2025 Maturity 8/7/2029 Industry Consumer products Current Coupon 9.72% Basis Point Spread Above Index 1M SOFR+ 6002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Case Works, LLC - Unfunded Revolver Acquisition 10/1/2024 Maturity 10/1/2029 Industry Professional Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt By Light Professional IT Services, LLC - Unfunded Revolver Acquisition 7/15/2025 Maturity 7/15/2031 Industry High Tech Industries2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Lash OpCo, LLC - Funded Revolver Acquisition 8/16/2021 Maturity 08/16/2026 Industry Personal Products Current Coupon 8.82% (PIK 5.10%) Basis Point Spread Above Index 1M SOFR+ 5102025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Duggal Acquisition, LLC Acquisition 4/10/2025 Maturity 09/30/2030 Industry Marketing Services Current Coupon 8.42% Basis Point Spread Above Index SOFR+4752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Sabel InvestCo, LP. - Common Equity Acquisition 10/31/2024 Industry Government Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants UniVista Insurance - Common Equity Acquisition 10/29/2024 Industry Insurance2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Graffiti Buyer, Inc. - Unfunded Term Loan Acquisition 08/09/2021 Maturity 08/10/2027 Industry Trading Companies & Distributors2025-09-300001504619First Lien Secured Debt Issuer Name Anteriad, LLC (f/k/a MeritDirect, LLC) Acquisition 4/10/2025 Maturity 6/30/2026 Industry Media: Advertising, Printing & Publishing Current Coupon 9.90% Basis Point Spread Above Index SOFR+5752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt StoicLane, Inc. - Convertible Notes Acquisition 8/15/2024 Maturity 08/16/2027 Industry Healthcare Technology Current Coupon 12.00%2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Big Top Holdings, LLC Acquisition 11/18/2025 Maturity 3/1/2030 Industry Construction and Engineering Current Coupon 8.92% Basis Point Spread Above Index SOFR+5252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Meadowlark Acquirer, LLC - Unfunded Revolver Acquisition 12/9/2021 Maturity 12/10/2027 Industry Professional Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Boss Industries, LLC Acquisition 12/27/2024 Maturity 12/27/2030 Industry Independent Power and Renewable Electricity Producers Current Coupon 9.00% Basis Point Spread Above Index 3M SOFR+ 5002025-09-300001504619First Lien Secured Debt Issuer Name OSP Embedded Purchaser, LLC Acquisition 11/18/2025 Maturity 12/17/2029 Industry Aerospace and Defense Current Coupon 9.42% Basis Point Spread Above Index SOFR+5752025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Smile Brands, Inc. Acquisition 1/27/2021 Maturity 10/12/2027 Industry Healthcare and Pharmaceuticals Current Coupon 9.77% Basis Point Spread Above Index SOFR+6002025-10-012025-12-310001504619Subordinate Debt Issuer Name Integrative Nutrition, LLC Acquisition 4/17/2025 Maturity 4/15/2033 Industry Diversified Consumer Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PAR Excellence Holdings, Inc. - Unfunded Revolver Acquisition 9/3/2024 Maturity 09/03/2030 Industry Healthcare Technology2025-12-310001504619First Lien Secured Debt Issuer Name Project Granite Buyer, Inc. Acquisition 11/18/2025 Maturity 12/31/2030 Industry Professional Services Current Coupon 9.42% Basis Point Spread Above Index SOFR+5752025-12-310001504619First Lien Secured Debt Issuer Name Confluent Health, LLC Acquisition 1/12/2024 Maturity 11/30/2028 Industry Healthcare and Pharmaceuticals Current Coupon 11.22% Basis Point Spread Above Index SOFR+7502025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Anteriad, LLC (f/k/a MeritDirect, LLC) - Incremental Term Loan Acquisition 4/11/2023 Maturity 6/30/2026 Industry Media: Advertising, Printing & Publishing Current Coupon 9.90% Basis Point Spread Above Index SOFR+5752025-09-300001504619First Lien Secured Debt Issuer Name EvAL Home Care Solutions Intermediate, LLC Acquisition 7/10/2024 Maturity 05/10/2030 Industry Healthcare and Pharmaceuticals Current Coupon 9.47% Basis Point Spread Above Index SOFR+5752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TMII Enterprises, LLC - Unfunded Revolver Acquisition 12/19/2022 Maturity 12/22/2028 Industry Commercial Services & Supplies2025-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:ValuationTechniqueMarketComparableMemberpflt:MeasurementInputMarketYieldMemberpflt:SecondLienMember2025-09-300001504619us-gaap:FairValueInputsLevel3Memberpflt:SecondLienMember2025-09-300001504619srt:AffiliatedEntityMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rancho Health MSO, Inc. - Unfunded Revolver Acquisition 12/20/2024 Maturity 6/20/2029 Industry Healthcare Equipment and Supplies2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Express Wash Acquisition Company, LLC - Unfunded Revolver Acquisition 04/10/2025 Maturity 04/10/2031 Industry Automobiles2025-09-300001504619pflt:ClassA2RNotesMemberpflt:SecuredOvernightFinancingRateMemberpflt:RTwoThousandAndThirtySixAssetBackedDebtMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Commercial Fire Protection Holdings, LLC - Unfunded Term Loan Acquisition 9/23/2024 Maturity 09/23/2026 Industry Commercial Services & Supplies2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Aechelon InvestCo, LP Acquisition 8/16/2024 Industry Aerospace and Defense2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Smile Brands, Inc. - Funded Revolver Acquisition 10/4/2018 Maturity 10/12/2027 Industry Healthcare and Pharmaceuticals Current Coupon 10.43% Basis Point Spread Above Index 1M SOFR+ 6102025-09-300001504619First Lien Secured Debt Issuer Name Emergency Care Partners, LLC Acquisition 11/11/2024 Maturity 10/18/2027 Industry Healthcare Providers and Services Current Coupon 8.67% Basis Point Spread Above Index SOFR+5002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Hills Distribution, Inc. - Unfunded Term Loan Acquisition 11/2/2023 Maturity 11/07/2025 Industry Distributors2025-09-300001504619Subordinate Debt Issuer Name Integrative Nutrition, LLC Acquisition 4/17/2025 Maturity 4/15/2033 Industry Diversified Consumer Services2025-12-310001504619pflt:TwoThousandAndThirtySevenAssetBackedDebtMemberpflt:ClassBNotesMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TMII Enterprises, LLC - Unfunded Revolver Acquisition 12/19/2022 Maturity 12/22/2028 Industry Commercial Services & Supplies2024-10-012024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Bioderm, Inc. - Funded Revolver Acquisition 1/30/2023 Maturity 01/31/2028 Industry Healthcare Equipment and Supplies Current Coupon 10.77% Basis Point Spread Above Index 1M SOFR+ 6502025-09-300001504619pflt:TwoThousandThirtySixRAssetBackedDebtMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Express Wash Acquisition Company, LLC - Unfunded Revolver Acquisition 04/10/2025 Maturity 04/10/2031 Industry Automobiles2024-10-012025-09-300001504619Investments in Controlled, Affiliated Portfolio Companies Equity Interests PennantPark Senior Secured Loan Fund I LLC - Common Equity Acquisition 8/10/2020 Industry Financial Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants WCP Ivyrehab Coinvestment, LP - Unfunded Common Equity Acquisition 6/27/2022 Industry Healthcare Providers and Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Omnia Exterior Solutions, LLC - Funded Revolver Acquisitions 12/29/2023 Maturity 12/31/2029 Industry Diversified Consumer Services Current Coupon 9.25% Basis Point Spread Above Index 1M SOFR+ 5252024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Beacon Behavioral Support Services, LLC Acquisition 10/9/2024 Maturity 6/21/2029 Industry Healthcare and Pharmaceuticals Current Coupon 9.17% Basis Point Spread Above Index SOFR+5502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MOREgroup Holdings, Inc. Acquisition 1/9/2024 Maturity 01/16/2030 Industry Construction & Engineering Current Coupon 8.94% Basis Point Spread Above Index 3M SOFR+ 5252025-12-310001504619pflt:CashTwentySevenPointZeroPercentOfNetAssetsMember2025-09-300001504619pflt:ControlledAffiliatedInvestmentsMembersrt:MaximumMember2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name HW Holdco, LLC Acquisition 4/11/2023 Maturity 05/11/2026 Industry Media Current Coupon 9.80% Basis Point Spread Above Index SOFR+5902025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Tinicum Space Coast Co-Invest, LLC Acquisition 10/29/2024 Industry Aerospace and Defense2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Eval Home Care Solutions Intermediate, LLC Acquisition 5/10/2024 Maturity 5/10/2030 Industry Healthcare, Education and Childcare Current Coupon 9.47% Basis Point Spread Above Index 1M SOFR+ 5752025-10-012025-12-310001504619pflt:InvestmentsCashEquivalentsAndCashMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Imagine Topco. LP - Preferred Equity Acquisition 11/4/2021 Industry Software Current Coupon 8.00%2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Blue Cloud Pediatric Surgery Centers LLC Acquisition 8/12/2025 Maturity 1/21/2031 Industry Healthcare Providers and Services Current Coupon 8.72% Basis Point Spread Above Index 3M SOFR+ 5002025-03-310001504619pflt:TwoThousandAndThirtySevenAssetBackedDebtMember2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Schlesinger Global, Inc. - Unfunded Revolver Acquisition 10/24/2019 Maturity 10/24/2025 Industry Professional Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants By Light Investco LP - Common Equity Acquisition 5/15/2017 Industry High Tech Industries2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Duggal Equity, LP - Common Equity Acquisition 9/30/2024 Industry Marketing Services2024-10-012025-09-300001504619Equity Securities Issuer Name Pragmatic Holdco, Inc. - Common Equity Acquisition 3/28/2025 Industry Education2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MBS Holdings, Inc. - Unfunded Revolver Acquisition 4/14/2021 Maturity 04/16/2027 Industry Internet Software and Services2024-10-012025-09-300001504619us-gaap:FairValueInputsLevel3Memberpflt:TwoThousandAndThirtySixAssetBackedDebtMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity TWD Parent Holdings, LLC - Preferred Equity Acquisition 8/25/2021 Industry Construction & Engineering2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt Wash & Wax Systems, LLC - Subordinate Debt Acquisition 4/30/2025 Maturity 07/30/2028 Industry Consumer Services Current Coupon 12.00%2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants KL Stockton Co-Invest, LP - Common Equity Acquisition 7/16/2021 Industry Energy Equipment and Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Seaway Buyer, LLC Acquisition 4/11/2023 Maturity 06/13/2029 Industry Chemicals, Plastics and Rubber Current Coupon 9.82% Basis Point Spread Above Index SOFR+6152025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Harris & Co. LLC - Funded Revolver Acquisition 8/9/2024 Maturity 8/9/2030 Industry Professional Services Current Coupon 8.72% Basis Point Spread Above Index 1M SOFR+ 5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Cartessa Aesthetics, LLC - Preferred Equity Acquisition 6/1/2022 Industry Distributors2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name MBS Holdings, Inc. Acquisition 6/8/2021 Maturity 4/16/2027 Industry Internet Software and Services Current Coupon 9.30% Basis Point Spread Above Index SOFR+5102025-09-300001504619us-gaap:HealthcareSectorMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Smile Brands, Inc. - Funded Revolver Acquisition 10/4/2018 Maturity 10/12/2027 Industry Healthcare and Pharmaceuticals Current Coupon 9.77% Basis Point Spread Above Index 1M SOFR+ 6102025-10-012025-12-310001504619us-gaap:FairValueInputsLevel2Memberpflt:SubordinateDebtMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt OSP Embedded Purchaser, LLC - Unfunded Revolver Acquisition 12/11/2023 Maturity 12/17/2029 Industry Aerospace and Defense2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt C5MI Acquisition, LLC Acquisition 7/31/2024 Maturity 07/31/2029 Industry IT Services Current Coupon 10.00% Basis Point Spread Above Index 3M SOFR+ 6002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Symplr Software, Inc. Acquisition 8/27/2025 Maturity 12/20/2027 Industry Software Current Coupon 8.91% Basis Point Spread Above Index 3M SOFR+ 4602024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt StoicLane, Inc. - Unfunded Convertible Notes Acquisition 8/15/2024 Maturity 8/16/2027 Industry Healthcare Technology2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PAR Excellence Holdings, Inc. - Unfunded Revolver Acquisition 9/3/2024 Maturity 9/3/2030 Industry Healthcare Technology2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name MBS Holdings, Inc. Acquisition 6/8/2021 Maturity 4/16/2027 Industry Internet Software and Services Current Coupon 9.30% Basis Point Spread Above Index SOFR+5102024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Wash & Wax Systems, LLC - Funded Revolver Acquisition 4/30/2025 Maturity 04/30/2028 Industry Consumer Services Current Coupon 9.34% Basis Point Spread Above Index 3M SOFR+ 5502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt NBH Group, LLC Acquisition 8/29/2025 Maturity 08/19/2026 Industry Healthcare Equipment and Supplies Current Coupon 10.12% Basis Point Spread Above Index 1M SOFR+ 5852025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Amsive Holdings Corporation Acquisition 3/2/2020 Maturity 12/10/2026 Industry Media Current Coupon 9.92% Basis Point Spread Above Index 3M SOFR+ 6252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Harris & Co. LLC - Unfunded Term Loan C Acquisition 08/09/2024 Maturity 08/18/2027 Industry Professional Services2025-09-300001504619First Lien Secured Debt Issuer Name MAG DS Corp. Acquisition 9/27/2023 Maturity 4/1/2027 Industry Aerospace and Defense Current Coupon 9.60% Basis Point Spread Above Index SOFR+5602025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Kinetic Purchaser, LLC - Common Equity - Class A Acquisition 11/8/2021 Industry Personal Products2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name One Stop Mailing, LLC Acquisition 7/8/2021 Maturity 5/7/2027 Industry Air Freight and Logistics Current Coupon 10.53% Basis Point Spread Above Index SOFR+6362024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Inovex Information Systems Incorporated - Unfunded Revolver Acquisition 12/17/2024 Maturity 12/17/2030 Industry Software2025-12-310001504619First Lien Secured Debt Issuer Name ACP Avenu Buyer, LLC Acquisition 10/6/2023 Maturity 10/2/2029 Industry Business Services Current Coupon 9.29% Basis Point Spread Above Index SOFR+5002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity NXOF Holdings, Inc. - Preferred Equity Acquisition 9/25/2018 Industry IT Services2025-12-310001504619First Lien Secured Debt Issuer Name ACP Falcon Buyer, Inc. Acquisition 11/18/2025 Maturity 8/1/2029 Industry Internet Software and Services Current Coupon 9.49% Basis Point Spread Above Index SOFR+5502025-12-310001504619pflt:ClassB1SeniorSecuredFloatingRateNotesDue2031Memberpflt:TwoThousandAndThirtyOneAssetBackedDebtMember2019-09-300001504619First Lien Secured Debt Issuer Name Systems Planning And Analysis, Inc. Acquisition 3/15/2022 Maturity 8/16/2027 Industry Aerospace and Defense Current Coupon 8.92% Basis Point Spread Above Index SOFR+4752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt OSP Embedded Purchaser, LLC - Unfunded Revolver Acquisition 12/11/2023 Maturity 12/17/2029 Industry Aerospace and Defense2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity BioDerm Holdings, LP - Preferred Equity Acquisition 1/23/2030 Industry Healthcare Equipment and Supplies2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants SV-Aero Holdings, LLC - Common Equity Acquisition 7/11/2018 Industry Aerospace and Defense2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ro Health, LLC Acquisition 1/16/2025 Maturity 1/17/2031 Industry Healthcare Providers and Services Current Coupon 8.50% Basis Point Spread Above Index 3M SOFR+ 4502024-10-012025-09-300001504619First Lien Secured Debt Issuer Name The Vertex Companies, LLC Acquisition 4/11/2023 Maturity 08/31/2028 Industry Construction and Engineering Current Coupon 8.75% Basis Point Spread Above Index SOFR+4752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Municipal Emergency Services, Inc. - Common Equity Acquisition 9/28/2021 Industry Distributors2025-12-310001504619First Lien Secured Debt Issuer Name TPC US Parent, LLC Acquisition 4/11/2023 Maturity 02/23/2026 Industry Consumer Goods: Non-Durable Current Coupon 9.89% Basis Point Spread Above Index SOFR+5902025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Halo Buyer, Inc. - Unfunded Revolver Acquisition 2/7/2025 Maturity 8/7/2029 Industry Consumer products2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt First Medical MSO, LLC Acquisition 06/13/2025 Maturity 06/13/2031 Industry Healthcare Providers and Services Current Coupon 9.75%2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Commercial Fire Protection Holdings, LLC Acquisition 9/23/2024 Maturity 9/23/2030 Industry Commercial Services & Supplies Current Coupon 8.22% Basis Point Spread Above Index 3M SOFR+ 4502025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Systems Planning And Analysis, Inc. Acquisition 11/20/2025 Maturity 8/16/2027 Industry Aerospace and Defense Current Coupon 8.46% Basis Point Spread Above Index SOFR+4752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Pragmatic Holdco, Inc. - Common Equity Acquisition 11/5/2021 Industry Professional Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants GGG Topco, LLC Acquisition 9/27/2024 Industry Diversified Consumer Services2025-12-310001504619pflt:HealthcareEquipmentAndSuppliesMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity AFC Acquisitions, Inc. Preferred Equity - Series G-2 Acquisition 12/7/2023 Industry Distributors2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cornerstone Advisors of Arizona, LLC Acquisition 5/13/2025 Maturity 5/13/2032 Industry Consulting Services Current Coupon 8.42% Basis Point Spread Above Index 3M SOFR+ 4752025-12-310001504619First Lien Secured Debt Issuer Name MDI Buyer, Inc. Acquisition 4/11/2023 Maturity 7/25/2028 Industry Chemicals, Plastics and Rubber Current Coupon 8.95% Basis Point Spread Above Index SOFR+4752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Lightspeed Buyer, Inc. - Unfunded Revolver Acquisition 1/21/2020 Maturity 02/03/2027 Industry Healthcare Technology2024-10-012025-09-300001504619Equity Securities Issuer Name 48Forty Intermediate Holdings, Inc. - Common Equity Acquisition 11/5/2024 Industry Containers and Packaging2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Project Granite Buyer, Inc. - Unfunded Term Loan Acquisition 12/31/2024 Maturity 12/31/2026 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Case Works, LLC Acquisition 10/1/2024 Maturity 10/1/2029 Industry Professional Services Current Coupon 8.97% Basis Point Spread Above Index 3M SOFR+ 5252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Riverpoint Medical, LLC - Unfunded Revolver Acquisition 6/19/2019 Maturity 06/21/2027 Industry Healthcare Equipment and Supplies2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Lash OpCo, LLC - Unfunded Revolver Acquisition 8/16/2021 Maturity 08/16/2026 Industry Personal Products2025-12-310001504619First Lien Secured Debt Issuer Name Lash OpCo, LLC Acquisition 10/14/2021 Maturity 02/18/2027 Industry Personal Products Current Coupon 10.94% Basis Point Spread Above Index SOFR+7102025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants AG Investco - Unfunded Common Equity Acquisition 11/5/2018 Industry Software2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Penta Group Holdings, Inc. - Funded Revolver Acquisition 7/31/2025 Maturity 07/31/2031 Industry Professional Services Current Coupon 8.17% Basis Point Spread Above Index 3M SOFR+ 4502025-12-310001504619pflt:LeisureProductsMember2025-09-300001504619pflt:TotalInvestmentsMembercountry:US2025-09-300001504619First Lien Secured Debt Issuer Name ACP Falcon Buyer, Inc. Acquisition 8/22/2023 Maturity 8/1/2029 Industry Business Services Current Coupon 9.79% Basis Point Spread Above Index SOFR+5502024-10-012025-09-300001504619pflt:CommonEquityWarrantsMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants OHCP V BC COI, LP - Unfunded Common Equity Acquisition 12/13/2021 Industry Distributors2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Ad.Net Holdings, Inc. - Common Equity Acquisition 5/4/2021 Industry Media2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt AFC-Dell Holding Corp. - Unfunded Term Loan Acquisition 2/22/2024 Maturity 04/09/2027 Industry Distributors2025-12-310001504619pflt:NetAssetsHundredPercentMember2025-12-310001504619First Lien Secured Debt Issuer Name Sabel Systems Technology Solutions, LLC Acquisition 11/11/2024 Maturity 10/31/2030 Industry Government Services Current Coupon 9.91% Basis Point Spread Above Index SOFR+5752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Crane 1 Services, Inc. Acquisition 8/11/2021 Maturity 8/16/2027 Industry Commercial Services & Supplies Current Coupon 9.08% Basis Point Spread Above Index 3M SOFR+ 5252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity SP L2 Holdings, LLC - Preferred Equity Acquisition 11/4/2021 Industry Leisure Products2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Seacoast Service Partners NA, LLC - Unfunded Term Loan Acquisition 12/20/2024 Maturity 12/21/2026 Industry Diversified Consumer Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt The Bluebird Group, LLC - Unfunded Revolver Acquisition 7/22/2021 Maturity 07/28/2026 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity BioDerm Holdings, LP - Preferred Equity Acquisition 1/23/2030 Industry Healthcare Equipment and Supplies2024-10-012025-09-300001504619pflt:AtTheMarketOfferingMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Magnolia Topco, LP - Common Equity - Class A Acquisition 7/25/2023 Industry Automobiles2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt DRS Holdings III, Inc. - Unfunded Revolver Inc Acquisition 10/29/2019 Maturity 11/03/2025 Industry Personal Products2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TransGo, LLC Acquisition 12/29/2023 Maturity 12/29/2028 Industry Auto Components Current Coupon 9.51% Basis Point Spread Above Index 3M SOFR+ 5752024-10-012024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Anteriad, LLC (f/k/a MeritDirect, LLC) Acquisition 5/21/2019 Maturity 06/30/2026 Industry Media Current Coupon 9.57% Basis Point Spread Above Index 3M SOFR+ 5902025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt RRA Corporate, LLC Acquisition 8/15/2024 Maturity 8/15/2029 Industry Diversified Consumer Services Current Coupon 9.00% Basis Point Spread Above Index 3M SOFR+ 5002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TCG 3.0 Jogger Acquisitionco, Inc. - Funded Revolver Acquisition 1/23/2024 Maturity 01/23/2029 Industry Media Current Coupon 12.25% Basis Point Spread Above Index 3M SOFR+ 5502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Municipal Emergency Services, Inc. - Unfunded Revolver Acquisition 9/23/2021 Maturity 10/01/2027 Industry Distributors2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name By Light Professional IT Services, LLC Acquisition 11/19/2025 Maturity 7/15/2031 Industry Aerospace and Defense Current Coupon 9.22% Basis Point Spread Above Index SOFR+5502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rosco Parent, LLC - Unfunded Revolver Acquisition 9/9/2025 Maturity 9/12/2031 Industry Business Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Puget Collision, LLC Acquisition 10/3/2025 Maturity 10/03/2031 Industry Automobiles Current Coupon 8.43% Basis Point Spread Above Index 3M SOFR+ 4752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt Integrative Nutrition, LLC - Promissory Note #2 Acquisition 4/17/2025 Maturity 04/15/2033 Industry Consumer Services2024-10-012024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Ironclad Holdco, LLC - Common Equity Acquisition 12/23/2020 Industry Commercial Services & Supplies2025-09-300001504619First Lien Secured Debt Issuer Name NBH Group, LLC Acquisition 8/25/2021 Maturity 8/19/2026 Industry Healthcare, Education & Childcare Current Coupon 10.12% Basis Point Spread Above Index SOFR+5852025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Archer Lewis, LLC - Unfunded Revolver Acquisition 8/28/2024 Maturity 08/28/2029 Industry Healthcare Technology2025-09-300001504619pflt:PennantParkCLO12LLCMember2025-04-012025-04-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants NXOF Holdings, Inc. - Common Equity Acquisition 9/25/2018 Industry IT Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants New Insight Holdings, Inc. Acquisition 7/15/2024 Industry Business Services2025-12-310001504619Equity Securities Issuer Name White Tiger Newco, LLC - Common Equity Acquisition 7/31/2025 Industry Automobiles2024-10-012025-09-300001504619pflt:TwoThousandAndThirtySevenAssetBackedDebtMemberpflt:ClassBNotesMemberpflt:SecuredOvernightFinancingRateMember2025-02-012025-02-280001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Magnolia Topco, LP - Preferred Equity - Class A Acquisition 7/25/2023 Industry Automobiles2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Spendmend Holdings, LLC - Funded Revolver Acquisition 3/1/2022 Maturity 03/01/2028 Industry Healthcare Technology Current Coupon 9.15% Basis Point Spread Above Index 3M SOFR+ 5152025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt GGG Midco, LLC - Unfunded Term Loan Acquisition 9/27/2024 Maturity 9/27/2030 Industry Diversified Consumer Services2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name PD Tri-State Holdco, LLC. Acquisition 11/19/2025 Maturity 10/14/2030 Industry Diversified Consumer Services Current Coupon 8.92% Basis Point Spread Above Index SOFR+5252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Peninsula Pacific Entertainment, LLC Acquisition 8/15/2025 Maturity 8/22/2032 Industry Gaming Current Coupon 9.02% Basis Point Spread Above Index 3M SOFR+ 4752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Watchtower Buyer, LLC - Unfunded Revolver Acquisition 11/29/2023 Maturity 12/03/2029 Industry Electronic Equipment, Instruments, and Components2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Compex Legal Services, Inc. - Funded Revolver Acquisition 1/27/2020 Maturity 02/07/2026 Industry Professional Services Current Coupon 9.51% Basis Point Spread Above Index 3M SOFR+ 5552025-09-300001504619pflt:AerospaceAndDefenseMember2025-09-300001504619pflt:JPMorganUSGovernmentFundMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Marketplace Events Acquisition, LLC - Common Equity Acquisition 12/19/2024 Industry Media: Diversified and Production2025-10-012025-12-310001504619pflt:LongTermCreditFacilityMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants HV Watterson Holdings, LLC - Common Equity Acquisition 6/13/2022 Industry Professional Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants SBI Holdings Investments, LLC - Common Equity Acquisition 9/9/2025 Industry Professional Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rosco Parent, LLC Acquisition 9/9/2025 Maturity 9/12/2031 Industry Business Services Current Coupon 8.81%2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Penta Group Holdings, Inc. Acquisition 7/31/2025 Maturity 07/31/2031 Industry Professional Services Current Coupon 8.17% Basis Point Spread Above Index 3M SOFR+ 4502025-12-310001504619First Lien Secured Debt Issuer Name Recteq, LLC Acquisition 2/24/2021 Maturity 1/29/2026 Industry Leisure Products Current Coupon 10.40% Basis Point Spread Above Index SOFR+6402025-09-300001504619First Lien Secured Debt Issuer Name Sigma Defense Systems, LLC Acquisition 11/18/2025 Maturity 12/20/2027 Industry Aerospace and Defense Current Coupon 10.62% Basis Point Spread Above Index SOFR+6902025-12-310001504619pflt:FirstLienSecuredDebtMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Harris & Co. LLC - Unfunded Revolver Acquisition 8/09/2024 Maturity 08/09/2030 Industry Professional Services2024-10-012025-09-300001504619Equity Securities Issuer Name Lucky Bucks, LLC - Common Equity Acquisition 12/1/2023 Industry Hotel, Gaming and Leisure2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity UniTek Global Services, Inc. - Preferred Equity Acquisition 1/13/2015 Industry Telecommunications Current Coupon 13.50%2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Blackhawk Industrial Distribution, Inc. - Funded Revolver Acquisition 6/27/2022 Maturity 09/17/2026 Industry Distributors Current Coupon 9.40% Basis Point Spread Above Index 3M SOFR+ 5402024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt NORA Acquisition, LLC Acquisition 8/22/2023 Maturity 08/31/2029 Industry Healthcare Providers and Services Current Coupon 10.02% Basis Point Spread Above Index 3M SOFR+ 6352025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Aftermarket Drivetrain Products Holdings, LLC - Common Equity Acquisition 12/29/2023 Industry Auto Components2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Penta Group Holdings, Inc. - Unfunded Revolver Acquisition 7/31/2025 Maturity 7/31/2031 Industry Professional Services2025-09-300001504619us-gaap:FairValueInputsLevel2Memberpflt:FirstLienMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carisk Buyer, Inc. - Unfunded Term Loan Acquisition 11/27/2023 Maturity 12/03/2029 Industry Healthcare Technology2025-09-300001504619us-gaap:FairValueInputsLevel3Memberpflt:ValuationTechniqueMarketComparableMemberpflt:SecondLienMemberpflt:MeasurementInputBrokerOrDealerBidsOrQuotesMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Spendmend Holdings, LLC - Unfunded Revolver Acquisition 3/1/2022 Maturity 03/01/2028 Industry Healthcare Technology2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Seacoast Service Partners NA, LLC - Unfunded Revolver Acquisition 12/20/2024 Maturity 12/20/2029 Industry Diversified Consumer Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name By Light Professional IT Services, LLC Acquisition 8/28/2025 Maturity 7/15/2031 Industry High Tech Industries Current Coupon 9.66% Basis Point Spread Above Index SOFR+5502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Best Practice Associates, LLC Acquisition 11/7/2024 Maturity 11/08/2029 Industry Aerospace and Defense Current Coupon 10.52% Basis Point Spread Above Index 3M SOFR+ 6752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt C5MI Acquisition, LLC - Unfunded Revolver 7/31/2024 Maturity 07/31/2029 Industry IT Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Walker Edison Furniture Company, LLC - Unfunded Term Loan Acquisition 8/29/2025 Maturity 03/01/2029 Industry Wholesale2024-10-012024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants North Haven Saints Equity Holdings, LP - Common Equity Acquisition 2/25/2022 Industry Healthcare Technology2024-10-012025-09-300001504619pflt:TwoThousandAndThirtySixAssetBackedDebtMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants IHS Parent Holdings, LP - Common Equity Acquisition 12/21/2022 Industry Commercial Services & Supplies2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carnegie Dartlet, LLC - Unfunded Term Loan Acquisition 2/7/2024 Maturity 02/09/2026 Industry Professional Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ro Health, LLC - Unfunded Revolver Acquisition 1/16/2025 Maturity 01/17/2031 Industry Healthcare Providers and Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Aphix Buyer, Inc. Acquisition 7/17/2025 Maturity 07/17/2031 Industry Business Services Current Coupon 8.91% Basis Point Spread Above Index 3M SOFR+ 4752025-09-300001504619First Lien Secured Debt Issuer Name Commercial Fire Protection Holdings, LLC Acquisition 11/26/2024 Maturity 9/23/2030 Industry Commercial Services & Supplies Current Coupon 8.50% Basis Point Spread Above Index SOFR+4502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants RFMG Parent, LP - Common Equity Acquisition 12/16/2020 Industry Healthcare Equipment and Supplies2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt HEC Purchaser Corp. Acquisition 6/17/2024 Maturity 06/17/2029 Industry Healthcare, Education and Childcare Current Coupon 8.87% Basis Point Spread Above Index 3M SOFR+ 5002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Marketplace Events Acquisition, LLC - Unfunded Term Loan Acquisition 12/19/2024 Maturity 06/19/2026 Industry Media2024-10-012025-09-300001504619pflt:ClassA2NotesMemberpflt:TwoThousandAndThirtySevenAssetBackedDebtMember2025-02-280001504619First Lien Secured Debt Issuer Name DRS Holdings III, Inc. Acquisition 1/27/2021 Maturity 11/3/2025 Industry Consumer Goods: Durable Current Coupon 9.41% Basis Point Spread Above Index SOFR+5252025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Smile Brands, Inc. - Unfunded Revolver - LC Acquisition 10/4/2018 Maturity 10/12/2027 Industry Healthcare and Pharmaceuticals2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Athletico Holdings, LLC - Common Equity Acquisition 2/4/2022 Industry Healthcare Providers and Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cornerstone Advisors of Arizona, LLC - Unfunded Revolver Acquisition 5/13/2025 Maturity 5/13/2032 Industry Consulting Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Carnegie Dartlet, LLC Acquisition 2/7/2024 Maturity 02/07/2030 Industry Professional Services Current Coupon 9.66% Basis Point Spread Above Index 3M SOFR+ 5502024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Smile Brands, Inc. - Funded Revolver Acquisition 10/4/2018 Maturity 10/12/2027 Industry Healthcare and Pharmaceuticals Current Coupon 9.77% Basis Point Spread Above Index 1M SOFR+ 6102025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt RRA Corporate, LLC - Unfunded Term Loan Acquisition 8/15/2024 Maturity 08/17/2026 Industry Diversified Consumer Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Magnolia Topco, LP - Preferred Equity - Class A-1 Acquisition 7/25/2023 Industry Automobiles2025-09-300001504619First Lien Secured Debt Issuer Name EDS Buyer, LLC Acquisition 11/18/2025 Maturity 1/10/2029 Industry Aerospace and Defense Current Coupon 8.17% Basis Point Spread Above Index SOFR+4502025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Meadowlark Acquirer, LLC Acquisition 1/29/2022 Maturity 12/10/2027 Industry Professional Services Current Coupon 9.32% Basis Point Spread Above Index SOFR+5652025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Systems Planning And Analysis, Inc. Acquisition 10/12/2021 Maturity 08/16/2027 Industry Aerospace and Defense Current Coupon 8.42% Basis Point Spread Above Index 3M SOFR+ 4752025-12-310001504619srt:MinimumMemberpflt:IncentiveFeePaymentConditionTwoMember2024-10-012025-06-300001504619pflt:JPMorganUSGovernmentMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Blue Cloud Pediatric Surgery Centers LLC - Unfunded Term Loan Acquisition 8/12/2025 Maturity 7/30/2027 Industry Healthcare Providers and Services2025-03-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants WCP Ivyrehab Coinvestment, LP - Unfunded Common Equity Acquisition 6/27/2022 Industry Healthcare Providers and Services2025-12-310001504619pflt:ManufacturingBasicIndustryMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Inovex Information Systems Incorporated - Unfunded Term Loan Acquisition 12/17/2024 Maturity 12/17/2026 Industry Software2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants SSC Dominion Holdings, LLC - Common Equity - Class B (US Dominion, Inc.) Acquisition 11/4/2021 Industry Capital Equipment2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt The Bluebird Group, LLC Acquisition 7/22/2021 Maturity 07/28/2026 Industry t Team Services Group, LLC Maturity 12/20/202 Industry Professional Services Current Coupon 9.90% Basis Point Spread Above Index 3M SOFR+ 5902024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity AFC Acquisitions, Inc. Preferred Equity - Series I-2 Acquisition 12/7/2023 Industry Distributors2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Magnolia Topco, LP - Common Equity - Class B Acquisition 7/25/2023 Industry Automobiles2024-10-012025-09-300001504619pflt:DistributorsMember2025-09-300001504619pflt:JPMorganUSGovernmentMember2025-09-300001504619First Lien Secured Debt Issuer Name APT OPCO, LLC Acquisition 11/18/2025 Maturity 9/30/2031 Industry Healthcare Providers & Services Current Coupon 8.67% Basis Point Spread Above Index SOFR+5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Cartessa Aesthetics, LLC - Preferred Equity Acquisition 6/1/2022 Industry Distributors2025-09-300001504619First Lien Secured Debt Issuer Name Archer Lewis, LLC Acquisition 11/18/2025 Maturity 8/28/2029 Industry Professional Services Current Coupon 9.75% Basis Point Spread Above Index SOFR+5752025-10-012025-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:FirstLienMember2024-10-012024-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Delta InvestCo, LP - Unfunded Common Equity Acquisition 12/16/2020 Industry IT Services2024-10-012025-09-3000015046192021-01-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt C5MI Acquisition, LLC Acquisition 7/31/2024 Maturity 7/31/2029 Industry IT Services Current Coupon 9.67% Basis Point Spread Above Index 3M SOFR+ 6002025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Infinity Home Services Holdco, Inc. Acquisition 4/11/2023 Maturity 12/28/2028 Industry Commercial Services & Supplies Current Coupon 10.16% Basis Point Spread Above Index SOFR+6002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Riverpoint Medical, LLC - Unfunded Revolver Acquisition 6/19/2019 Maturity 6/21/2027 Industry Healthcare Equipment and Supplies2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Keel Platform, LLC - Unfunded Term Loan Acquisition 1/26/2024 Maturity 01/20/2031 Industry Metals and Mining2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Connatix Parent, LLC Acquisition 7/8/2021 Industry Media2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Bioderm, Inc. - Funded Revolver Acquisition 1/30/2023 Maturity 01/31/2028 Industry Healthcare Equipment and Supplies Current Coupon 10.77% Basis Point Spread Above Index 1M SOFR+ 6502024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Dynata, LLC - Last Out Term Loan Acquisition 7/15/2024 Maturity 10/16/2028 Industry Diversified Consumer Services Current Coupon 9.64% Basis Point Spread Above Index SOFR+5762025-10-012025-12-310001504619First Lien Secured Debt Issuer Name PAR Excellence Holdings, Inc. Acquisition 11/18/2025 Maturity 9/3/2030 Industry Healthcare Technology Current Coupon 8.74% Basis Point Spread Above Index SOFR+5002025-12-310001504619pflt:ClassA1SeniorSecuredFloatingRateNotesDue2031Memberpflt:TwoThousandAndThirtyOneAssetBackedDebtMemberpflt:SecuredOvernightFinancingRateMember2019-09-012019-09-300001504619First Lien Secured Debt Issuer Name Aphix Buyer, Inc. Acquisition 9/3/2025 Maturity 7/17/2031 Industry Business Services Current Coupon 8.47% Basis Point Spread Above Index SOFR+4752025-12-310001504619First Lien Secured Debt Issuer Name Hancock Roofing And Construction, LLC Acquisition 1/27/2021 Maturity 12/31/2026 Industry Insurance Current Coupon 9.27% Basis Point Spread Above Index SOFR+5602025-12-310001504619First Lien Secured Debt Issuer Name GGG MIDCO, LLC Acquisition 4/10/2025 Maturity 09/27/2030 Industry Diversified Consumer Services Current Coupon 8.67% Basis Point Spread Above Index SOFR+5002025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Tyto Athene, LLC Acquisition 5/5/2021 Maturity 4/3/2028 Industry IT Services Current Coupon 9.19% Basis Point Spread Above Index SOFR+4902024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Boss Industries, LLC - Unfunded Revolver Acquisition 12/27/2024 Maturity 12/27/2030 Industry Independent Power and Renewable Electricity Producers2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Sabel InvestCo, LP. - Common Equity Acquisition 10/31/2024 Industry Government Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Seacoast Service Partners NA, LLC - Unfunded Revolver Acquisition 12/20/2024 Maturity 12/20/2029 Industry Diversified Consumer Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ACP Avenu Buyer, LLC - Unfunded Term Loan Acquisition 10/2/2023 Maturity 04/21/2027 Industry IT Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TCG 3.0 Jogger Acquisitionco, Inc. Acquisition 1/23/2024 Maturity 1/23/2029 Industry Media Current Coupon 10.52% Basis Point Spread Above Index 3M SOFR+ 6502024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Tyto Athene, LLC Acquisition 5/5/2021 Maturity 04/03/2028 Industry IT Services Current Coupon 8.88% Basis Point Spread Above Index SOFR+4902025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Best Practice Associates, LLC - Unfunded Revolver Acquisition 11/7/2024 Maturity 11/08/2029 Industry Aerospace and Defense2025-09-300001504619First Lien Secured Debt Issuer Name LAV Gear Holdings, Inc. - Takeback TL Acquisition 7/31/2025 Maturity 07/31/2029 Industry Capital Equipment Current Coupon 9.65% Basis Point Spread Above Index SOFR+5942025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Penta Group Holdings, Inc. - Unfunded Revolver Acquisition 7/31/2025 Maturity 07/31/2031 Industry Professional Services2025-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:FirstLienMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants QuantiTech InvestCo, LP - Unfunded Common Equity Acquisition 10/3/2022 Industry Aerospace and Defense2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Beacon Behavioral Support Services, LLC Acquisition 6/21/2024 Maturity 06/21/2029 Industry Healthcare Providers and Services Current Coupon 9.50% Basis Point Spread Above Index 3M SOFR+ 5502024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Emergency Care Partners, LLC - Unfunded Term Loan Acquisition 10/18/2024 Maturity 10/19/2026 Industry Healthcare Providers and Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Project Granite Holdings, LLC Acquisition 8/4/2025 Industry Professional Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sales Benchmark Index, LLC - Funded Revolver Acquisition 12/23/2019 Maturity 07/07/2026 Industry Professional Services Current Coupon 9.87% Basis Point Spread Above Index 3M SOFR+ 6202025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Safe Haven Defense US, LLC - Funded Revolver Acquisition 5/23/2024 Maturity 05/23/2029 Industry Building Products Current Coupon 11.25% Basis Point Spread Above Index 3M SOFR+ 4502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants OSP PAR Aggregator, LP - Common Equity Acquisition 9/3/2024 Industry Healthcare Technology2025-12-310001504619First Lien Secured Debt Issuer Name ACP Falcon Buyer, Inc. Acquisition 8/22/2023 Maturity 8/1/2029 Industry Business Services Current Coupon 9.49% Basis Point Spread Above Index SOFR+5502025-12-310001504619pflt:AtTheMarketOfferingMember2024-07-012024-07-310001504619pflt:TwoThousandThirtySevenAssetBackedDebtMemberpflt:PennantParkSeniorSecuredLoanFundILLCMember2025-09-300001504619First Lien Secured Debt Issuer Name BLC Holding Company, Inc. Acquisition 4/10/2025 Maturity 11/20/2030 Industry Business Services Current Coupon 8.17% Basis Point Spread Above Index SOFR+4502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt CJX Borrower, LLC Acquisition 7/8/2021 Maturity 07/13/2027 Industry Media Current Coupon 10.08% Basis Point Spread Above Index 3M SOFR+ 5762025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Inovex Information Systems Incorporated Acquisition 12/17/2024 Maturity 12/17/2030 Industry Software Current Coupon 9.25% Basis Point Spread Above Index 3M SOFR+ 5252024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity AFC Acquisitions, Inc. Preferred Equity - Series I-2 Acquisition 12/7/2023 Industry Distributors2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Meadowlark Acquirer, LLC - Unfunded Revolver Acquisition 12/9/2021 Maturity 12/10/2027 Industry Professional Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Lucky Bucks, LLC - Last-Out Term Loan Acquisition 5/20/2024 Maturity 10/2/2029 Industry Hotel, Gaming and Leisure Current Coupon 11.66% Basis Point Spread Above Index SOFR+7652025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt SV-Aero Holdings, LLC Acquisition 10/31/2024 Maturity 11/1/2030 Industry Aerospace and Defense Current Coupon 9.00% Basis Point Spread Above Index 3M SOFR+ 5002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants BioDerm Holdings, LP - Common Equity Acquisition 1/30/2023 Industry Healthcare Equipment and Supplies2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ACP Avenu Buyer, LLC - Unfunded Term Loan Acquisition 10/2/2023 Maturity 04/21/2027 Industry IT Services2025-10-012025-12-310001504619pflt:ClassA2NotesMemberpflt:TwoThousandAndThirtySevenAssetBackedDebtMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Safe Haven Defense US, LLC - Unfunded Revolver Acquisition 5/23/2024 Maturity 05/23/2029 Industry Building Products2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Penta Group Holdings, Inc. - Common Equity Acquisition 7/31/2025 Industry Professional Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Keel Platform, LLC Acquisition 01/26/2024 Maturity 1/20/2031 Industry Metals and Mining Current Coupon 8.75% Basis Point Spread Above Index 3M SOFR+ 4752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt NORA Acquisition, LLC - Funded Revolver Acquisition 8/22/2023 Maturity 08/31/2029 Industry Healthcare Providers and Services Current Coupon 10.35% Basis Point Spread Above Index 3M SOFR+ 6352024-10-012025-09-300001504619First Lien Secured Debt Issuer Name MAG DS Corp. Acquisition 9/27/2023 Maturity 4/1/2027 Industry Aerospace and Defense Current Coupon 9.60% Basis Point Spread Above Index SOFR+5602024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Magnolia Topco, LP - Preferred Equity - Class A-1 Acquisition 7/25/2023 Industry Automobiles2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Archer Lewis, LLC Acquisition 11/22/2024 Maturity 8/28/2029 Industry Commercial Services & Supplies Current Coupon 9.42% Basis Point Spread Above Index SOFR+5752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt CJX Borrower, LLC Acquisition 7/8/2021 Maturity 7/13/2027 Industry Media Current Coupon 9.7% Basis Point Spread Above Index 3M SOFR+ 5762025-10-012025-12-310001504619pflt:HealthcareEducationAndChildcareMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cf512, Inc. Acquisition 8/17/2021 Maturity 08/20/2026 Industry Media Current Coupon 10.19% Basis Point Spread Above Index 3M SOFR+ 6192025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity AFC Acquisitions, Inc. Preferred Equity - Series J-2 Acquisition 12/7/2023 Industry Distributors2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Five Star Buyer, Inc. - Unfunded Revolver Acquisition 02/21/2023 Maturity 02/23/2028 Industry Hotels, Restaurants and Leisure2024-10-012025-09-300001504619pflt:PennantParkSeniorSecuredLoanFundIILLCMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Pink Lilly Holdco, LLC - Unfunded Revolver Acquisition 11/5/2021 Maturity 11/09/2027 Industry Textiles, Apparel and Luxury Goods2025-12-310001504619First Lien Secured Debt Issuer Name Carisk Buyer, Inc. Acquisition 10/16/2024 Maturity 12/3/2029 Industry Healthcare Technology Current Coupon 9.00% Basis Point Spread Above Index SOFR+5002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cf512, Inc. Acquisition 8/17/2021 Maturity 8/20/2026 Industry Media Current Coupon 9.98% Basis Point Spread Above Index 3M SOFR+ 6192025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Project Granite Buyer, Inc. Acquisition 12/31/2024 Maturity 12/31/2030 Industry Professional Services Current Coupon 9.75% Basis Point Spread Above Index 3M SOFR+ 5752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt HW Holdco, LLC - Unfunded Revolver Acquisition 1/9/2019 Maturity 5/11/2026 Industry Media2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Transgo, LLC Acquisition 1/19/2024 Maturity 12/29/2028 Industry Automotive Current Coupon 9.47% Basis Point Spread Above Index SOFR+5752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants FedHC InvestCo, LP - Unfunded Common Equity Acquisition 8/26/2021 Industry Aerospace and Defense2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants QuantiTech InvestCo II, LP - Common Equity Acquisition 5/1/2020 Industry Aerospace and Defense2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants OSP Embedded Aggregator, LP - Common Equity Acquisition 12/11/2023 Industry Aerospace and Defense2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name BLC Holding Company, Inc. Acquisition 4/10/2025 Maturity 11/20/2030 Industry Business Services Current Coupon 8.50% Basis Point Spread Above Index SOFR+4502024-10-012025-09-300001504619us-gaap:FairValueInputsLevel3Memberpflt:ValuationTechniqueMarketComparableMemberpflt:MeasurementInputMarketYieldMemberpflt:LongTermCreditFacilityMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt EDS Buyer, LLC Acquisition 12/19/2022 Maturity 1/10/2029 Industry Electronic Equipment, Instruments, and Components Current Coupon 8.49% Basis Point Spread Above Index 3M SOFR+ 4752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Wash & Wax Group, LP - Common Equity Acquisition 4/30/2025 Industry Consumer Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Anteriad, LLC (f/k/a MeritDirect, LLC) Acquisition 5/21/2019 Maturity 06/30/2026 Industry Media Current Coupon 9.90% Basis Point Spread Above Index 3M SOFR+ 5902024-10-012025-09-300001504619pflt:ClassA1SeniorSecuredFloatingRateNotesDue2031Memberpflt:TwoThousandAndThirtyOneAssetBackedDebtMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Team Services Group, LLC Acquisition 2/23/2024 Maturity 12/20/2027 Industry Healthcare Providers and Services Current Coupon 0.00% Basis Point Spread Above Index 3M SOFR+ 5252024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Beacon Behavioral Support Services, LLC Acquisition 6/21/2024 Maturity 06/21/2029 Industry Healthcare Providers and Services Current Coupon 9.17% Basis Point Spread Above Index 3M SOFR+ 5502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Inventus Power, Inc. Acquisition 6/29/2023 Maturity 01/15/2026 Industry Electronic Equipment, Instruments, and Components Current Coupon 11.33% Basis Point Spread Above Index 3M SOFR+ 7612025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Tower Arch Infolinks Media, LP - Unfunded Common Equity Acquisition 1/22/2024 Industry Media2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Cartessa Aesthetics, LLC Acquisition 4/11/2023 Maturity 6/14/2028 Industry Distributors Current Coupon 10.00% Basis Point Spread Above Index SOFR+6002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Best Practice Associates, LLC - Unfunded Revolver Acquisition 11/7/2024 Maturity 11/08/2029 Industry Aerospace and Defense2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity AFC Acquisitions, Inc. Preferred Equity - Series F-2 Acquisition 12/7/2023 Industry Distributors2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Anteriad, LLC (f/k/a MeritDirect, LLC) - Funded Revolver Acquisition 5/21/2019 Maturity 06/30/2026 Industry Media Current Coupon 9.90% Basis Point Spread Above Index 3M SOFR+ 5902025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Emergency Care Partners, LLC - Unfunded Revolver Acquisition 10/18/2024 Maturity 10/18/2027 Industry Healthcare Providers and Services2025-10-012025-12-310001504619pflt:PennantParkSeniorSecuredLoanFundILLCMember2024-09-300001504619us-gaap:InvestmentAffiliatedIssuerControlledMemberpflt:EquityInterestsMember2025-09-300001504619First Lien Secured Debt Issuer Name ETE Intermediate II, LLC Acquisition 6/12/2023 Maturity 5/29/2029 Industry Diversified Consumer Services Current Coupon 9.16% Basis Point Spread Above Index SOFR+5002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Harris & Co. LLC - Unfunded Revolver Acquisition 8/9/2024 Maturity 8/9/2030 Industry Professional Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt Beacon Behavioral Holdings, LLC Acquisition 6/21/2024 Maturity 06/21/2030 Industry Healthcare Providers and Services Current Coupon 15.00%2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Podean Intermediate II, LLC - Preferred Equity Acquisition 8/4/2025 Industry Marketing Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt BLC Holding Company, Inc. - Funded Revolver Acquisition 11/20/2024 Maturity 11/20/2030 Industry Business Services Current Coupon 8.50% Basis Point Spread Above Index 3M SOFR+ 4502025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity UniTek Global Services, Inc. - Senior Preferred Equity Acquisition 1/13/2015 Industry Telecommunications Coupon 19.00%2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Puget Collision, LLC - Funded Revolver Acquisition 10/3/2025 Maturity 10/03/2031 Industry Automobiles Current Coupon 8.42% Basis Point Spread Above Index 3M SOFR+ 4752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Infinity Home Services Holdco, Inc. - Unfunded Revolver Acquisition 12/21/2022 Maturity 12/28/2028 Industry Commercial Services & Supplies2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cf512, Inc. - Funded Revolver Acquisition 8/17/2021 Maturity 08/20/2026 Industry Media Current Coupon 10.18% Basis Point Spread Above Index 3M SOFR+ 6022025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PD Tri-State Holdco, LLC - Unfunded Revolver Acquisition 10/14/2025 Maturity 10/14/2030 Industry Diversified Consumer Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants MDI Aggregator, LP - Common Equity Acquisition 7/19/2022 Industry Commodity Chemicals2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Infinity Home Services Holdco, Inc. Acquisition 4/11/2023 Maturity 12/28/2028 Industry Commercial Services & Supplies Current Coupon 10.16% Basis Point Spread Above Index SOFR+6002025-09-300001504619First Lien Secured Debt Issuer Name PAR Excellence Holdings, Inc. Acquisition 10/16/24 Maturity 9/3/2030 Industry Healthcare Technology Current Coupon 9.17% Basis Point Spread Above Index SOFR+5002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants IHS Parent Holdings, LP - Common Equity Acquisition 12/21/2022 Industry Commercial Services & Supplies2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity RTIC Parent Holdings, LLC - Preferred Equity - Class A Acquisition 5/3/2024 Industry Leisure Products2025-09-300001504619pflt:FiveLargestInvestmentsMemberpflt:PennantParkSeniorSecuredLoanFundILLCMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity AFC Acquisitions, Inc. Preferred Equity - Series I-2 Acquisition 12/7/2023 Industry Distributors2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Graffiti Buyer, Inc. Acquisition 08/09/2021 Maturity 08/10/2027 Industry Trading Companies & Distributors Current Coupon 9.66% Basis Point Spread Above Index 3M SOFR+ 5602025-09-300001504619us-gaap:FairValueInputsLevel2Memberpflt:TwoThousandThirtySixRAssetBackedDebtMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants ACP Big Top Holdings, LP - Common Equity Acquisition 2/29/2024 Industry Construction & Engineering2024-10-012025-09-300001504619pflt:PennantParkSeniorSecuredLoanFundILLCMember2025-09-300001504619pflt:LongTermCreditFacilityMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Tower Arch Infolinks Media, LP - Unfunded Common Equity Acquisition 1/22/2024 Industry Media2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt MOREgroup Holdings, Inc. - Unfunded Revolver Acquisition 1/9/2024 Maturity 01/16/2030 Industry Construction & Engineering2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants RFMG Parent, LP - Common Equity Acquisition 12/16/2020 Industry Healthcare Equipment and Supplies2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cf512, Inc. Acquisition 8/17/2021 Maturity 8/20/2026 Industry Media Current Coupon 9.98% Basis Point Spread Above Index 3M SOFR+ 6192025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Meadowlark Acquirer, LLC Acquisition 12/9/2021 Maturity 12/10/2027 Industry Professional Services Current Coupon 9.32% Basis Point Spread Above Index 3M SOFR+ 5652025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity SP L2 Holdings, LLC - Unfunded Preferred Equity Acquisition 11/4/2021 Industry Leisure Products2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Blue Cloud Pediatric Surgery Centers LLC - Unfunded Term Loan Acquisition 8/12/2025 Maturity 07/30/2027 Industry Healthcare Providers and Services2025-09-300001504619First Lien Secured Debt Issuer Name ETE Intermediate II, LLC Acquisition 6/12/2023 Maturity 05/29/2029 Industry Diversified Consumer Services Current Coupon 8.72% Basis Point Spread Above Index SOFR+5002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Aechelon InvestCo, LP Acquisition 8/16/2024 Industry Aerospace and Defense2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name PD Tri-State Holdco, LLC. Acquisition 11/19/2025 Maturity 10/14/2030 Industry Diversified Consumer Services Current Coupon 8.92% Basis Point Spread Above Index SOFR+5252025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Loving Tan Intermediate II, Inc. - Unfunded Term Loan Acquisition 5/24/2023 Maturity 07/12/2026 Industry Personal Products2025-09-300001504619us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberpflt:FirstLienMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Impact Advisors, LLC Acquisition 3/21/2025 Maturity 3/19/2032 Industry Business Services Current Coupon 8.50% Basis Point Spread Above Index 3M SOFR+ 4502024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rural Sourcing Holdings, Inc. Acquisition 6/8/2023 Maturity 6/15/2029 Industry Professional Services Current Coupon 9.75% Basis Point Spread Above Index 3M SOFR+ 5752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Sabel Systems Technology Solutions, LLC - Unfunded Revolver Acquisition 10/31/2024 Maturity 10/31/2030 Industry Government Services2025-09-300001504619First Lien Secured Debt Issuer Name Smartronix, LLC Acquisition 12/3/2025 Maturity 2/6/2032 Industry Aerospace and Defense Current Coupon 8.42% Basis Point Spread Above Index SOFR+4502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Exigo Intermediate II, LLC Acquisition 08/27/2025 Maturity 03/15/2027 Industry Software Current Coupon 10.51% Basis Point Spread Above Index 1M SOFR+ 6352025-09-300001504619Equity Securities Issuer Name New Insight Holdings, Inc. - Common Equity Acquisition 7/15/2024 Industry Diversified Consumer Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Cartessa Aesthetics, LLC Acquisition 4/11/2023 Maturity 6/14/2028 Industry Distributors Current Coupon 9.67% Basis Point Spread Above Index SOFR+6002025-10-012025-12-310001504619pflt:TwoThousandAndThirtySixAssetBackedDebtMember2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants QuantiTech InvestCo II, LP - Common Equity Acquisition 5/1/2020 Industry Aerospace and Defense2025-09-300001504619First Lien Secured Debt Issuer Name EDS Buyer, LLC Acquisition 4/11/2023 Maturity 1/10/2029 Industry Electronic Equipment, Instruments, and Components Current Coupon 8.75% Basis Point Spread Above Index SOFR+4752025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants WCP Ivyrehab Coinvestment, LP - Common Equity - Incremental Acquisition 6/27/2022 Industry Healthcare Providers and Services2025-09-300001504619First Lien Secured Debt Issuer Name NBH Group, LLC Acquisition 8/25/2021 Maturity 08/19/2026 Industry Healthcare, Education & Childcare Current Coupon 9.71% Basis Point Spread Above Index SOFR+5852025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Magnolia Topco, LP - Common Equity - Class B Acquisition 7/25/2023 Industry Automobiles2025-09-300001504619pflt:ClassBRNotesMemberpflt:SecuredOvernightFinancingRateMemberpflt:RTwoThousandAndThirtySixAssetBackedDebtMember2024-07-252024-07-250001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt Integrative Nutrition, LLC - Promissory Note Acquisition 4/17/2025 Maturity 04/15/2030 Industry Consumer Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Confluent Health, LLC Acquisition 1/12/2024 Maturity 11/30/2028 Industry Healthcare and Pharmaceuticals Current Coupon 11.22% Basis Point Spread Above Index SOFR+7502025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Second Lien Secured Debt Team Services Group, LLC - 2nd Lien Acquisition 2/23/2024 Maturity 12/18/2028 Industry Healthcare Providers and Services Current Coupon 13.10% Basis Point Spread Above Index 3M SOFR+ 9262025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants IHS Parent Holdings, LP - Common Equity Acquisition 12/21/2022 Industry Commercial Services & Supplies2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Recteq, LLC - Funded Revolver Acquisition 1/27/2021 Maturity 1/29/2026 Industry Leisure Products Current Coupon 10.46% Basis Point Spread Above Index 3M SOFR+ 6252024-10-012025-09-300001504619First Lien Secured Debt Issuer Name ACP Avenu Buyer, LLC Acquisition 11/19/2025 Maturity 10/2/2029 Industry IT Services Current Coupon 8.74% Basis Point Spread Above Index SOFR+4752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt AFC-Dell Holding Corp. - Unfunded Term Loan Acquisition 2/22/2024 Maturity 04/09/2027 Industry Distributors2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rural Sourcing Holdings, Inc. - Unfunded Revolver Acquisition 6/8/2023 Maturity 06/15/2029 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rosco Parent, LLC Acquisition 9/9/2025 Maturity 09/12/2031 Industry Business Services Current Coupon 8.42% Basis Point Spread Above Index 3M SOFR+ 4752025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt CJX Borrower, LLC - Unfunded Term Loan Acquisition 7/8/2021 Maturity 7/13/2027 Industry Media2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt C5MI Acquisition, LLC Acquisition 7/31/2024 Maturity 07/31/2029 Industry IT Services Current Coupon 10.00% Basis Point Spread Above Index 3M SOFR+ 6002024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Team Services Group, LLC Acquisition 10/4/2022 Maturity 12/20/2027 Industry Healthcare and Pharmaceuticals Current Coupon 9.56% Basis Point Spread Above Index SOFR+5252024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Coolsys, Inc. Acquisition 8/27/2025 Maturity 08/11/2028 Industry Commercial Services & Supplies Current Coupon 9.34% Basis Point Spread Above Index 3M SOFR+ 5012024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Graffiti Buyer, Inc. - Funded Revolver Acquisition 08/09/2021 Maturity 08/10/2027 Industry Trading Companies & Distributors Current Coupon 9.85%2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Delta InvestCo, LP - Unfunded Common Equity Acquisition 12/16/2020 Industry IT Services2025-12-310001504619First Lien Secured Debt Issuer Name STG Distribution, LLC - Second Out Term Loans Acquisition 5/22/2025 Maturity 10/3/2029 Industry Air Freight and Logistics Current Coupon 5.32%2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Penta Group Holdings, Inc. Acquisition 7/31/2025 Maturity 07/31/2031 Industry Professional Services Current Coupon 8.17% Basis Point Spread Above Index 3M SOFR+ 4502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Harris & Co. LLC - Unfunded Term Loan C Acquisition 08/09/2024 Maturity 08/18/2027 Industry Professional Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name North American Rail Solutions, LLC Acquisition 8/29/2025 Maturity 08/29/2031 Industry Manufacturing/Basic Industry Current Coupon 8.42% Basis Point Spread Above Index SOFR+4752025-12-310001504619First Lien Secured Debt Issuer Name Lash OpCo, LLC Acquisition 10/14/2021 Maturity 2/18/2027 Industry Personal Products Current Coupon 12.16% Basis Point Spread Above Index SOFR+7852025-09-300001504619pflt:InternetSoftwareAndServicesMember2025-09-300001504619pflt:CashAndCashEquivalentFortyPointSixMember2025-12-310001504619First Lien Secured Debt Issuer Name Municipal Emergency Services, Inc. Acquisition 4/11/2023 Maturity 10/01/2027 Industry Distributors Current Coupon 8.42% Basis Point Spread Above Index SOFR+4752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt NORA Acquisition, LLC - Unfunded Revolver Acquisition 8/22/2023 Maturity 08/31/2029 Industry Healthcare Providers and Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Megawatt Acquisition Partners, LLC - Preferred Equity - Class A Acquisition 6/28/2024 Industry Electronic Equipment, Instruments, and Components2025-10-012025-12-310001504619pflt:ClassA-2NotesMemberpflt:PennantParkCLO12LLCMember2025-04-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TPC US Parent, LLC Acquisition 11/15/2019 Maturity 02/23/2026 Industry Food Products Current Coupon 9.48% Basis Point Spread Above Index 3M SOFR+ 5902025-10-012025-12-310001504619First Lien Secured Debt Issuer Name BLC Holding Company, Inc. Acquisition 4/10/2025 Maturity 11/20/2030 Industry Business Services Current Coupon 8.17% Basis Point Spread Above Index SOFR+4502025-10-012025-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:SecondLienMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Tyto Athene, LLC Acquisition 3/26/2021 Maturity 04/03/2028 Industry IT Services Current Coupon 8.56% Basis Point Spread Above Index 3M SOFR+ 4902025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PAR Excellence Holdings, Inc. Acquisition 9/3/2024 Maturity 9/3/2030 Industry Healthcare Technology Current Coupon 9.32% Basis Point Spread Above Index 3M SOFR+ 5002024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Big Top Holdings, LLC Acquisition 6/26/2024 Maturity 3/1/2030 Industry Business Services Current Coupon 8.92% Basis Point Spread Above Index SOFR+5252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Crane 1 Services, Inc. Acquisition 8/11/2021 Maturity 08/16/2027 Industry Commercial Services & Supplies Current Coupon 10.03% Basis Point Spread Above Index 3M SOFR+ 5752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Seaway Topco, LP - Common Equity Acquisition 10/31/2024 Industry Chemicals, Plastics and Rubber2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants FedHC InvestCo, LP - Common Equity Acquisition 8/26/2021 Industry Aerospace and Defense2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt PCS MIDCO, Inc. - Unfunded Term Loan Acquisition 3/1/2024 Maturity 03/02/2026 Industry Professional Services2025-12-310001504619First Lien Secured Debt Issuer Name Rancho Health MSO, Inc. Acquisition 4/11/2023 Maturity 6/20/2029 Industry Healthcare Providers and Services Current Coupon 9.29% Basis Point Spread Above Index SOFR+5002025-09-300001504619First Lien Secured Debt Issuer Name Omnia Exterior Solutions, LLC Acquisition 11/1/2024 Maturity 12/31/2029 Industry Diversified Consumer Services Current Coupon 8.92% Basis Point Spread Above Index SOFR+5252025-12-310001504619First Lien Secured Debt Issuer Name RTIC Subsidiary Holdings, LLC Acquisition 11/1/2024 Maturity 5/3/2029 Industry Leisure Products Current Coupon 9.75% Basis Point Spread Above Index SOFR+5752025-09-300001504619pflt:SubordinateDebtMemberus-gaap:InvestmentUnaffiliatedIssuerMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants North Haven Saints Equity Holdings, LP - Common Equity Acquisition 2/25/2022 Industry Healthcare Technology2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Output Services Group, Inc. - First-out Term Loan Acquisition 11/30/2023 Maturity 11/30/2028 Industry Business Services Current Coupon 12.16% Basis Point Spread Above Index 3M SOFR+ 8432025-12-310001504619First Lien Secured Debt Issuer Name GGG MIDCO, LLC Acquisition 4/10/2025 Maturity 9/27/2030 Industry Diversified Consumer Services Current Coupon 9.00% Basis Point Spread Above Index SOFR+5002025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Archer Lewis, LLC - Unfunded Term Loan Acquisition 8/28/2024 Maturity 08/28/2026 Industry Healthcare Technology2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt TransGo, LLC Acquisition 12/29/2023 Maturity 12/29/2028 Industry Auto Components Current Coupon 9.91% Basis Point Spread Above Index 3M SOFR+ 5752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt BLC Holding Company, Inc. - Unfunded Revolver Acquisition 11/20/2024 Maturity 11/20/2030 Industry Business Services2025-12-310001504619pflt:SeniorSecuritiesMember2024-10-012025-09-300001504619Equity Securities Issuer Name Wash & Wax Group, LP - Common Equity Acquisition 4/30/2025 Industry Automobiles2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Blue Cloud Pediatric Surgery Centers LLC - Unfunded Term Loan Acquisition 8/12/2025 Maturity 7/30/2027 Industry Healthcare Providers and Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Infinity Home Services Holdco, Inc. - Unfunded Term Loan Acquisition 12/21/2022 Maturity 10/30/2026 Industry Commercial Services & Supplies2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Ad.Net Holdings, Inc. - Preferred Equity Acquisition 5/4/2021 Industry Media2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name Aphix Buyer, Inc. Acquisition 9/3/2025 Maturity 7/17/2031 Industry Business Services Current Coupon 8.47% Basis Point Spread Above Index SOFR+4752025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Lash OpCo, LLC Acquisition 8/16/2021 Maturity 02/18/2027 Industry Personal Products Current Coupon 12.16% (PIK 5.10%) Basis Point Spread Above Index 7852024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ETE Intermediate II, LLC Acquisition 05/24/2023 Maturity 05/29/2029 Industry Diversified Consumer Services Current Coupon 9.16% Basis Point Spread Above Index 3M SOFR+ 5002025-09-300001504619pflt:TwoThousandAndThirtyOneAssetBackedDebtMemberpflt:SecuredOvernightFinancingRateMember2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Impact Advisors, LLC - Unfunded Revolver Acquisition 3/21/2025 Maturity 03/19/2032 Industry Business Services2025-09-300001504619First Lien Secured Debt Issuer Name Ro Health, LLC Acquisition 3/3/2025 Maturity 1/17/2031 Industry Healthcare Providers and Services Current Coupon 8.50% Basis Point Spread Above Index SOFR+4502024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ACP Avenu Buyer, LLC - Unfunded Revolver Acquisition 10/2/2023 Maturity 10/02/2029 Industry IT Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants ORL Holdco, Inc. - Common Equity Acquisition 9/1/2021 Industry Consumer Finance2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name MBS Holdings, Inc. Acquisition 6/8/2021 Maturity 04/16/2027 Industry Internet Software and Services Current Coupon 8.92% Basis Point Spread Above Index SOFR+5102025-10-012025-12-310001504619First Lien Secured Debt Issuer Name Lucky Bucks, LLC - First-Out Term Loan (5) Acquisition 12/1/2023 Maturity 10/2/2028 Industry Hotel, Gaming and Leisure Current Coupon 11.66% Basis Point Spread Above Index SOFR+7652024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Five Star Parent Holdings, LLC - Preferred (Class P) Acquisition 2/21/2023 Industry Hotels, Restaurants and Leisure2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name DRI Holding Inc. Acquisition 9/15/2022 Maturity 12/21/2028 Industry Media Current Coupon 9.51% Basis Point Spread Above Index SOFR+5352025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Magnolia Topco, LP - Common Equity - Class A Acquisition 7/25/2023 Industry Automobiles2025-12-310001504619First Lien Secured Debt Issuer Name Emergency Care Partners, LLC Acquisition 11/11/2024 Maturity 10/18/2027 Industry Healthcare Providers and Services Current Coupon 9.00% Basis Point Spread Above Index SOFR+5002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Output Services Group, Inc. - First-out Term Loan Acquisition 11/30/2023 Maturity 11/30/2028 Industry Business Services Current Coupon 12.16% Basis Point Spread Above Index 3M SOFR+ 8432025-10-012025-12-310001504619First Lien Secured Debt Issuer Name EDS Buyer, LLC Acquisition 4/11/2023 Maturity 01/10/2029 Industry Electronic Equipment, Instruments, and Components Current Coupon 8.17% Basis Point Spread Above Index SOFR+4502025-12-310001504619First Lien Secured Debt Issuer Name SV-Aero Holdings, LLC Acquisition 10/31/2024 Maturity 11/01/2030 Industry Aerospace and Defense Current Coupon 8.67% Basis Point Spread Above Index SOFR+5002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Hancock Roofing and Construction, LLC - Funded Revolver Acquisition 12/23/2020 Maturity 12/31/2026 Industry Consumer products Current Coupon 9.76% Basis Point Spread Above Index 3M SOFR+ 6002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants WCP Ivyrehab Coinvestment, LP - Common Equity Acquisition 11/29/2023 Industry Healthcare Providers and Services2025-12-310001504619pflt:TruistCreditFacilityMember2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Pink Lilly Holdco, LLC Acquisition 11/5/2021 Maturity 11/9/2027 Industry Textiles, Apparel and Luxury Goods Current Coupon 4.35%2024-10-012025-09-300001504619pflt:TwoThousandAndThirtySixRAssetBackedDebtMember2024-10-012024-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:ValuationTechniqueMarketComparableMemberpflt:MeasurementInputMarketYieldMemberpflt:LongTermCreditFacilityMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants PCS Parent, LP Acquisition 3/1/2024 Industry Professional Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Arcfield Acquisition Corp. Acquisition 10/28/2024 Maturity 10/28/2031 Industry Aerospace and Defense Current Coupon 8.84% Basis Point Spread Above Index 3M SOFR+ 5002025-12-310001504619pflt:TotalFirstLienSecuredDebtMember2025-09-300001504619pflt:BusinessServicesMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt HW Holdco, LLC - Unfunded Revolver Acquisition 1/9/2019 Maturity 05/11/2026 Industry Media2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Magnolia Topco, LP - Preferred Equity - Class B Acquisition 7/25/2023 Industry Automobiles2025-09-300001504619First Lien Secured Debt Issuer Name Medina Health, LLC Acquisition 11/18/2025 Maturity 10/20/2028 Industry Healthcare and Pharmaceuticals Current Coupon 9.92% Basis Point Spread Above Index SOFR+6252025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Azureon, LLC (F/K/A Tpcn Midco, LLC) - Unfunded Revolver Acquisition 6/26/2024 Maturity 06/26/2029 Industry Diversified Consumer Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Duggal Acquisition, LLC - Unfunded Term Loan Acquisition 9/30/2024 Maturity 09/30/2026 Industry Marketing Services2025-09-300001504619First Lien Secured Debt Issuer Name By Light Professional IT Services, LLC Acquisition 11/19/2025 Maturity 7/15/2031 Industry Aerospace and Defense Current Coupon 9.22% Basis Point Spread Above Index SOFR+5502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt North American Rail Solutions, LLC Acquisition 8/29/2025 Maturity 08/29/2031 Industry Manufacturing/Basic Industry Current Coupon 8.42% Basis Point Spread Above Index 3M SOFR+ 4752025-12-310001504619First Lien Secured Debt Issuer Name Emergency Care Partners, LLC Acquisition 11/11/2024 Maturity 10/18/2027 Industry Healthcare Providers and Services Current Coupon 8.67% Basis Point Spread Above Index SOFR+5002025-10-012025-12-310001504619First Lien Secured Debt Issuer Name MBS Holdings, Inc. Acquisition 11/19/2025 Maturity 4/16/2027 Industry Internet Software and Services Current Coupon 8.92% Basis Point Spread Above Index SOFR+5102025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Ad.Net Holdings, Inc. - Preferred Equity Acquisition 5/4/2021 Industry Media2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Rosco Parent, LLC - Unfunded Revolver Acquisition 9/9/2025 Maturity 09/12/2031 Industry Business Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Cornerstone Advisors of Arizona, LLC - Unfunded Revolver Acquisition 5/13/2025 Maturity 05/13/2032 Industry Consulting Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Paving Lessor Corp. - Unfunded Term Loan Acquisition 7/1/2025 Maturity 7/1/2027 Industry Business Services2024-10-012025-09-300001504619pflt:TwoThousandThirtySevenAssetBackedDebtMember2025-09-300001504619First Lien Secured Debt Issuer Name CF512, Inc. Acquisition 12/27/2021 Maturity 8/20/2026 Industry Media Current Coupon 10.36% Basis Point Spread Above Index SOFR+6192024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Big Top Holdings, LLC - Unfunded Revolver Acquisition 2/29/2024 Maturity 02/28/2030 Industry Construction & Engineering2025-09-300001504619First Lien Secured Debt Issuer Name MDI Buyer, Inc. Acquisition 4/11/2023 Maturity 7/25/2028 Industry Chemicals, Plastics and Rubber Current Coupon 8.95% Basis Point Spread Above Index SOFR+4752024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt ORL Acquisition, Inc. Acquisition 9/1/2021 Maturity 09/03/2027 Industry Consumer Finance Current Coupon 13.07% (PIK 7.50%) Basis Point Spread Above Index 3M SOFR+ 9402025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Ad.net Acquisition, LLC - Unfunded Revolver Acquisition 5/4/2021 Maturity 05/07/2026 Industry Media2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Systems Planning And Analysis, Inc. - Unfunded Revolver Acquisition 10/12/2021 Maturity 08/16/2027 Industry Aerospace and Defense2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants WCP Ivyrehab Coinvestment, LP - Common Equity - Incremental Acquisition 4/30/2025 Industry Healthcare Providers and Services2025-10-012025-12-310001504619pflt:IndependentPowerAndRenewableElectricityProducersMember2025-09-300001504619First Lien Secured Debt Issuer Name Hills Distribution, Inc. Acquisition 5/3/2024 Maturity 11/08/2029 Industry Business Services Current Coupon 9.19% Basis Point Spread Above Index SOFR+5502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Capital Construction, LLC - Unfunded Term Loan Acquisition 6/30/2025 Maturity 12/30/2025 Industry Consumer Services2024-10-012025-09-300001504619Equity Securities Issuer Name Output Services Group, Inc. - Common Equity Acquisition 12/1/2023 Industry Business Services2025-09-300001504619First Lien Secured Debt Issuer Name PAR Excellence Holdings, Inc. Acquisition 11/18/2025 Maturity 9/3/2030 Industry Healthcare Technology Current Coupon 8.74% Basis Point Spread Above Index SOFR+5002025-10-012025-12-310001504619pflt:TwoThousandAndThirtySevenAssetBackedDebtMember2024-10-012024-12-310001504619First Lien Secured Debt Issuer Name TMII Enterprises, LLC Acquisition 4/11/2023 Maturity 12/22/2028 Industry Commercial Services & Supplies Current Coupon 8.22% Basis Point Spread Above Index SOFR+4502025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants Watchtower Holdings, LLC - Common Equity Acquisition 11/29/2023 Industry Electronic Equipment, Instruments, and Components2025-09-300001504619pflt:ClassA1SeniorSecuredFloatingRateNotesDue2036Memberpflt:TwoThousandAndThirtySixAssetBackedDebtMember2025-10-012025-12-310001504619First Lien Secured Debt Issuer Name BioDerm, Inc. Acquisition 2/28/2023 Maturity 1/31/2028 Industry Healthcare and Pharmaceuticals Current Coupon 10.77% Basis Point Spread Above Index SOFR+6502024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Compex Legal Services, Inc. - Unfunded Revolver Acquisition 1/27/2020 Maturity 02/07/2026 Industry Professional Services2024-10-012025-09-300001504619First Lien Secured Debt Issuer Name SV-Aero Holdings, LLC Acquisition 10/31/2024 Maturity 11/01/2030 Industry Aerospace and Defense Current Coupon 8.67% Basis Point Spread Above Index SOFR+5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Argano, LLC – Unfunded Revolver Acquisition 9/13/2024 Maturity 09/13/2029 Industry Business Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Wash & Wax Systems, LLC - Unfunded Revolver Acquisition 4/30/2025 Maturity 04/30/2028 Industry Consumer Services2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt CJX Borrower, LLC Acquisition 7/8/2021 Maturity 7/13/2027 Industry Media Current Coupon 9.7% Basis Point Spread Above Index 3M SOFR+ 5762025-12-310001504619pflt:PennantParkSeniorSecuredLoanFundIILLCMemberpflt:LiabilitiesInExcessOfOtherAssetsMember2025-12-310001504619First Lien Secured Debt Issuer Name Inventus Power, Inc. Acquisition 7/11/2023 Maturity 1/15/2026 Industry Consumer Goods: Durable Current Coupon 11.78% Basis Point Spread Above Index SOFR+7612025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Preferred Equity Hancock Claims Consultants Investors, LLC - Preferred Equity Acquisition 12/23/2020 Industry Insurance2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Subordinate Debt StoicLane, Inc. - Convertible Notes Acquisition 8/15/2024 Maturity 8/16/2027 Industry Healthcare Technology Current Coupon 12.00%2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Loving Tan Intermediate II, Inc. - Funded Revolver Acquisition 5/24/2023 Maturity 05/31/2028 Industry Personal Products Current Coupon 8.69% Basis Point Spread Above Index 3M SOFR+ 5002025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt LAV Gear Holdings, Inc. - Incremental TL Acquisition 7/31/2025 Maturity 07/31/2029 Industry Capital Equipment Current Coupon 10.10% (PIK 3.44%)2025-09-300001504619First Lien Secured Debt Issuer Name Dynata, LLC - First Out Term Loan Acquisition 7/15/2024 Maturity 07/17/2028 Industry Diversified Consumer Services Current Coupon 9.14% Basis Point Spread Above Index SOFR+5762025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Anteriad, LLC (f/k/a MeritDirect, LLC) Acquisition 5/21/2019 Maturity 06/30/2026 Industry Media Current Coupon 9.90% Basis Point Spread Above Index 3M SOFR+ 5902025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt First Medical MSO, LLC - Unfunded Term Loan Acquisition 06/13/2025 Maturity 06/13/2027 Industry Healthcare Providers and Services2025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Coolsys, Inc. Acquisition 8/27/2025 Maturity 8/11/2028 Industry Commercial Services & Supplies Current Coupon 8.63% Basis Point Spread Above Index 3M SOFR+ 5012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt First Medical MSO, LLC - Unfunded Revolver Acquisition 6/13/2025 Maturity 6/13/2031 Industry Healthcare Providers and Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants GCOM InvestCo, LP - Common Equity Acquisition 6/22/2021 Industry IT Services2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Duggal Acquisition, LLC Acquisition 9/30/2024 Maturity 9/30/2030 Industry Marketing Services Current Coupon 8.42% Basis Point Spread Above Index 3M SOFR+ 4752025-10-012025-12-310001504619First Lien Secured Debt Issuer Name HEC Purchaser Corp. Acquisition 4/10/2025 Maturity 6/17/2029 Industry Healthcare and Pharmaceuticals Current Coupon 8.87% Basis Point Spread Above Index SOFR+5002024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Watchtower Buyer, LLC Acquisition 11/29/2023 Maturity 12/03/2029 Industry Electronic Equipment, Instruments, and Components Current Coupon 9.70% Basis Point Spread Above Index 3M SOFR+ 6002025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Confluent Health, LLC Acquisition 3/25/2024 Maturity 11/30/2028 Industry Healthcare Providers and Services Current Coupon 7.83% Basis Point Spread Above Index 1M SOFR+ 4002025-10-012025-12-310001504619pflt:PennantParkSeniorSecuredLoanFundILLCMemberpflt:InvestmentInSinglePortfolioCompanyMember2025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Riverpoint Medical, LLC - Unfunded Revolver Acquisition 6/19/2019 Maturity 06/21/2027 Industry Healthcare Equipment and Supplies2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies Common Equity/Warrants WCP Ivyrehab Coinvestment, LP - Common Equity Acquisition 11/29/2023 Industry Healthcare Providers and Services2025-10-012025-12-310001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Marketplace Events Acquisition, LLC - Unfunded Revolver Acquisition 12/19/2024 Maturity 12/19/2030 Industry Media2024-10-012025-09-300001504619Investments in Non-Controlled, Non-Affiliated Portfolio Companies First Lien Secured Debt Blue Cloud Pediatric Surgery Centers LLC - Unfunded Term Loan Acquisition 8/12/2025 Maturity 7/30/2027 Industry Healthcare Providers and Services2025-10-012025-12-310001504619pflt:JPMorganUSGovernmentFundMember2025-12-310001504619us-gaap:FairValueInputsLevel3Memberpflt:LongTermCreditFacilityMember2024-12-31xbrli:purepflt:Portfoliopflt:Segmentiso4217:USDxbrli:sharesxbrli:sharesiso4217:CADiso4217:USD

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED DECEMBER 31, 2025

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE TRANSITION PERIOD FROM TO

COMMISSION FILE NUMBER: 814-00891

PENNANTPARK FLOATING RATE CAPITAL LTD.

(Exact name of registrant as specified in its charter)

MARYLAND		27-3794690
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)
1691 Michigan Avenue Miami Beach, Florida		33139
(Address of principal executive offices)		(Zip Code)

(786) 297-9500

(Registrant’s Telephone Number, Including Area Code)

None

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class	Trading Symbol(s)	Name of Each Exchange on Which Registered
Common Stock, par value $0.001 per share	PFLT	The New York Stock Exchange

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. Yes ☒ No ☐

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). Yes ☒ No ☐

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		☐
Non-accelerated filer		☐		Smaller reporting company		☐
Emerging growth company		☐

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 ☒

The number of shares of the registrant’s common stock, $0.001 par value per share, outstanding as of February 9, 2026 was 99,217,896.

PENNANTPARK FLOATING RATE CAPITAL LTD.

FORM 10-Q FOR THE QUARTER ENDED DECEMBER 31, 2025

TABLE OF CONTENTS

PART I. CONSOLIDATED FINANCIAL INFORMATION
Item 1. Consolidated Financial Statements		4
Consolidated Statements of Assets and Liabilities as of December 31, 2025 (unaudited) and September 30, 2025		4
Consolidated Statements of Operations for the three months ended December 31, 2025 and 2024 (unaudited)		5
Consolidated Statements of Changes in Net Assets for the three months ended December 31, 2025 and 2024 (unaudited)		6
Consolidated Statements of Cash Flows for the three months ended December 31, 2025 and 2024 (unaudited)		7
Consolidated Schedules of Investments as of December 31, 2025 (unaudited) and September 30, 2025		8
Notes to Consolidated Financial Statements (unaudited)		27
Report of Independent Registered Public Accounting Firm (PCAOB ID 49)		53
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations		55
Item 3. Quantitative and Qualitative Disclosures About Market Risk		76
Item 4. Controls and Procedures		77
PART II. OTHER INFORMATION
Item 1. Legal Proceedings		78
Item 1A. Risk Factors		78
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds		78
Item 3. Defaults Upon Senior Securities		78
Item 4. Mine Safety Disclosures		78
Item 5. Other Information		78
Item 6. Exhibits		79
SIGNATURES		80

2

PART I—CONSOLIDATED FINANCIAL INFORMATION

We are filing this Quarterly Report on Form 10-Q, or the Report, in compliance with Rule 13a-13 as promulgated by the Securities and Exchange Commission, or the SEC, under the Securities Exchange Act of 1934, as amended, or the Exchange Act. In this Report, except where the context suggests otherwise, the terms “Company,” “we,” “our” or “us” refers to PennantPark Floating Rate Capital Ltd. and its wholly owned consolidated subsidiaries; “Funding I” refers to PennantPark Floating Rate Funding I, LLC; “Taxable Subsidiary” refers to collectively our consolidated subsidiaries PFLT Investment Holdings II, LLC and PFLT Investment Holdings, LLC; “PSSL” refers to PennantPark Senior Secured Loan Fund I LLC, an unconsolidated joint venture; “PTSF” refers to PennantPark-TSO Senior Loan Fund, LP, a consolidated limited partnership; “PTSF’s GP” refers to PennantPark-TSO Senior Loan Fund GP, LLC a wholly owned subsidiary; "PSSL II” refers to PennantPark Senior Secured Loan Fund II LLC, an unconsolidated joint venture; "2037 Securitization Issuer" refers to PennantPark CLO 11, LLC, a consolidated Delaware limited liability company, “PennantPark Investment Advisers” or “Investment Adviser” refers to PennantPark Investment Advisers, LLC; “PennantPark Investment Administration” or “Administrator” refers to PennantPark Investment Administration, LLC; “2023 Notes” refers to our 4.3% Series A notes due 2023; “2026 Notes” refers to our 4.25% Notes due 2026; “1940 Act” refers to the Investment Company Act of 1940, as amended; “SBCAA” refers to the Small Business Credit Availability Act; “Code” refers to the Internal Revenue Code of 1986, as amended; “RIC” refers to a regulated investment company under the Code; “BDC” refers to a business development company under the 1940 Act; “Credit Facility” refers to our multi-currency senior secured revolving credit facility, as amended from time to time, with Truist Bank and other lenders, or the “Lenders,” entered into on August 12, 2021; “Securitization Issuer” refers to PennantPark CLO I, Ltd.; “Securitization Issuers” refers to the Securitization Issuer and PennantPark CLO I, LLC; “Debt Securitization” refers to the $301.4 million term debt securitization completed by the Securitization Issuers; “2031 Asset-Backed Debt” refers to (i) the issuance of the Class A-1 Senior Secured Floating Rate Notes due 2031, the Class A-2 Senior Secured Fixed Rate Notes due 2031, the Class B-1 Senior Secured Floating Rate Notes due 2031, the Class B-2 Senior Secured Fixed Rate Notes due 2031, the Class C-1 Secured Deferrable Floating Rate Notes due 2031, the Class C-2 Notes Secured Deferrable Fixed Rate Notes due 2031, and the Class D Secured Deferrable Floating Notes due 2031 and (ii) the borrowing of the Class A‑1 Senior Secured Floating Rate Notes due 2031 by the Securitization Issuers in connection with the Debt Securitization; and “Depositor” refers to PennantPark CLO I Depositor, LLC. 2036 Securitization Issuer refers to PennantPark CLO VIII, LLC; “2036-Debt Securitization” refers to the $350.6 million term debt securitization completed by the "2036 Securitization Issuers"; “2036 Asset-Backed Debt” refers to the issuance of the AAA(sf) Class A-1 Notes, AAA(sf) Class A-2 Notes, AA(sf) Class B Notes, A(sf) Class C Notes, BBB-(sf) Class D Notes, and the borrowing issuance of AAA(sf) Class A-1 floating rate loans. (the "Class A-1 Loans" with the 2036-Secured Notes.); “2036-R Securitization Issuers” refers to Securitization Issuer and PennantPark CLO I LLC; “2036-R Indenture” refers to that certain indenture, dated September 19, 2019, by and among the 2036-R Securitization Issuers and U.S. Bank Trust Company, National Association, as amended by the second supplemental indenture, dated June 25, 2024; “2036-R Asset-Backed Debt” refers to the issuance by the 2036-R Securitization Issuers of the following classes of notes pursuant the 2036-R Indenture (i) $203 million of A-1-R Notes, which bear interest at the three-month secured overnight financing rate (“SOFR”) plus 1.75%, (ii) $10.5 million of A-2-R Notes, which bear interest at three-month SOFR plus 1.90%, (iii) $12 million of Class B-R Notes, which bear interest at three-month SOFR plus 2.05%, (iv) $28.0 million of C-R Notes, which bear interest at three-month SOFR plus 2.75% and (v) $21 million of D-R Notes, which bear interest at three-month SOFR plus 4.30% (collectively, the “Secured Notes”), (B) the issuance by a 2036-R Securitization Issuer of $64 million of subordinated notes pursuant to the 2036-R Indenture (the “Subordinated Notes”), (C) the borrowing by the Securitization Issuer of $12.5 million of Class B-R Loans, which bear interest at three-month SOFR plus 2.05% (the “Class B-R Loans”); “2037 Debt Securitization” refers to the $474.6 million term debt securitization completed by 2037 Securitization Issuer; “2037 Credit Agreement” refers to that certain credit agreement, dated as of February 20, 2025 by and among 2037 Securitization Issuer, as borrower, the various financial institutions party thereto, as lenders, and Western Alliance Trust Company, National Association, as collateral agent and as loan agent; “2037 Indenture” refers to that certain indenture, dated as of February 20, 2025 by and between 2037 Securitization Issuer and Western Alliance Trust Company, National Association; “2037 Asset-Backed Debt” refers to (A) the issuance by 2037 Securitization Issuer of the following classes of notes pursuant to the 2037 Indenture: (i) $220.5 million of AAA(sf) Class A-1 Notes, which bear interest at three-month SOFR plus 1.49%, (ii) $19.0 million of AAA(sf) Class A-2 Notes, which bear interest at three-month SOFR plus 1.60%, (iii) $28.5 million of AA(sf) Class B Notes, which bear interest at three-month SOFR plus 1.75%, (iv) $38.0 million of A(sf) Class C Notes, which bear interest at three-month SOFR plus 2.20%, (v) $28.5 million of BBB-(sf) Class D Notes (the “2037 Class D Notes”), which bear interest at three-month SOFR plus 3.60%, (collectively, the “2037 Secured Notes”), and (vi) $85.1 million of subordinated notes (“2037 Subordinated Notes” and, together with the 2037 Secured Notes, the “2037 Notes”) and (B) the borrowing by the Issuers of $10.0 million under AAA(sf) Class A-1L-A floating rate loans and $45.0 million under AAA(sf) Class A-1L-B floating rate loans (together, the “2037 Asset-Backed Loans”), which bear interest at three-month SOFR plus 1.49%. References to our portfolio, our investments, our multi-currency, senior secured revolving credit facility, as amended and restated, or the Credit Facility, and our business includes investments we make through our subsidiaries.

3

Item 1. Consolidated Financial Statements

PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES

(in thousands, except share and per share data)

		December 31, 2025				September 30, 2025
		(unaudited)
Assets
Investments at fair value
Non-controlled, non-affiliated investments (amortized cost— $2,226,700  and $2,458,018, respectively)		$	2,238,775			$	2,491,360
Controlled, affiliated investments (amortized cost— $457,000  and $361,375, respectively)			366,572				281,968
Total investments (amortized cost— $2,683,700 and $2,819,393, respectively)			2,605,347				2,773,328
Cash equivalents (cost— $40,143 and $40,729, respectively)			40,143				40,729
Cash (cost— $55,121 and $81,955, respectively)			55,125				81,959
Interest receivable			13,017				13,832
Receivable for investments sold			37				1,369
Due from affiliate			239				321
Prepaid expenses and other assets			2,174				2,143
Total assets			2,716,082				2,913,681
Liabilities
Credit Facility payable, at fair value (cost— $488,855 and $683,855, respectively)			488,859				683,837
2026 Notes payable, net (par—$185,000) (unamortized deferred financing costs of $197 and $391, respectively)			184,803				184,609
2036 Asset-Backed Debt, net (par—$287,000) (unamortized deferred financing costs of $2,238 and $2,373, respectively)			284,762				284,627
2036-R Asset-Backed Debt, net (par— $287,000 and $266,000) (unamortized deferred financing costs of $439 and $634, respectively)			286,561				265,366
2037 Asset-Backed Debt, net (par— $389,500 and $361,000) (unamortized deferred financing costs of $2,475 and $2,669, respectively)			387,025				358,331
Payable for investments purchased			—				14,852
Interest payable on debt			16,109				19,172
Distributions payable			10,170				10,170
Base management fee payable			6,814				6,549
Incentive fee payable			6,660				6,883
Accounts payable and accrued expenses			2,662				2,166
Deferred tax liability			1,228				1,864
Due to affiliate			-				739
Total liabilities			1,675,653				1,839,165
Commitments and contingencies (See Note 11)
Net assets
Common stock, 99,217,896 and 99,217,896 shares issued and outstanding, respectively    Par value $0.001 per share and 200,000,000 shares authorized			99				99
Paid-in capital in excess of par value			1,219,502				1,219,502
Accumulated deficit			(179,172	)			(145,085	)
Total net assets		$	1,040,429			$	1,074,516
Total liabilities and net assets		$	2,716,082			$	2,913,681
Net asset value per share		$	10.49			$	10.83

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

4

PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

(Unaudited)

		Three Months Ended December 31,
		2025				2024
Investment income:
From non-controlled, non-affiliated investments:
Interest		$	56,531			$	47,463
Dividend			8				577
Other income			761				1,480
From controlled, affiliated investments:
Interest			7,845				12,808
Dividend			4,944				4,375
Other income			—				306
Total investment income			70,089				67,009
Expenses:
Interest and expenses on debt			27,154				22,361
Performance-based incentive fee			6,660				7,492
Base management fee			6,814				5,264
General and administrative expenses			1,200				1,200
Administrative services expenses			900				500
Expenses before amendment costs and provision for taxes			42,728				36,817
Provision for taxes on net investment income			225				225
Credit Facility amendment costs			498				—
Total expenses			43,451				37,042
Net investment income			26,638				29,967
Realized and unrealized gain (loss) on investments and debt:
Net realized gain (loss) on:
Non-controlled, non-affiliated investments			1,457				1,181
Non-controlled and controlled, affiliated investments			—				25,493
Provision for taxes on realized gain (loss) on investments			—				(73	)
Net realized gain (loss) on investments			1,457				26,601
Net change in unrealized appreciation (depreciation) on:
Non-controlled, non-affiliated investments			(21,266	)			2,943
Non-controlled and controlled, affiliated investments			(11,021	)			(31,904	)
Provision for taxes on unrealized appreciation (depreciation) on investments			636				632
Debt appreciation (depreciation)			(22	)			90
Net change in unrealized appreciation (depreciation) on investments and debt			(31,673	)			(28,239	)
Net realized and unrealized gain (loss) from investments and debt			(30,216	)			(1,638	)
Net increase (decrease) in net assets resulting from operations		$	(3,578	)		$	28,329
Net increase (decrease) in net assets resulting from operations per common share (See Note 7)		$	(0.04	)		$	0.35
Net investment income per common share		$	0.27			$	0.37

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

5

PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS

(in thousands, except share issue data)

(Unaudited)

		Three Months Ended December 31,
		2025				2024
Net increase (decrease) in net assets from operations:
Net investment income		$	26,638			$	29,967
Net realized gain (loss) on investments			1,457				26,674
Net change in unrealized appreciation (depreciation) on investments			(32,287	)			(28,961	)
Net change in provision for taxes on realized and unrealized appreciation (depreciation) on investments			636				559
Net change in unrealized appreciation (depreciation) on debt			(22	)			90
Net increase (decrease) in net assets resulting from operations			(3,578	)			28,329
Distributions to stockholders:
Distribution of net investment income			(30,509	)			(25,181	)
Total distributions to stockholders			(30,509	)			(25,181	)
Capital transactions
Public offering			—				82,708
Offering costs			—				(499	)
Net increase in net assets resulting from capital transactions			—				82,209
Net increase (decrease) in net assets			(34,087	)			85,357
Net assets:
Beginning of period			1,074,516				877,294
End of period		$	1,040,429			$	962,651
Capital share activity:
Shares issued from public offering			—				7,276,000

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

6

PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(Unaudited)

		Three Months Ended December 31,
		2025				2024
Cash flows from operating activities:
Net increase (decrease) in net assets resulting from operations		$	(3,578	)		$	28,329
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash    provided by (used in) operating activities:
Net change in unrealized (appreciation) depreciation on investments			32,287				28,961
Net change in unrealized appreciation (depreciation) on debt			22				(90	)
Net realized (gain) loss on investments			(1,457	)			(26,674	)
Net accretion of discount and amortization of premium			(1,632	)			(5,687	)
Purchases of investments			(205,415	)			(606,916	)
Payment-in-kind interest			(1,627	)			(1,378	)
Proceeds from dispositions of investments			345,821				401,300
Amortization of deferred financing costs			718				362
(Increase) decrease in:
Interest receivable			815				(857	)
Receivable from investment sold			1,332				(29,090	)
Distribution receivable			—				58
Prepaid expenses and other assets			(31	)			(4,828	)
Due from affiliate			82				(21	)
Increase (decrease) in:
Payable for investments purchased			(14,852	)			(19,892	)
Interest payable on debt			(3,063	)			(1,327	)
Base management fee payable			265				676
Incentive fee payable			(223	)			4,303
Deferred tax liability			(636	)			(632	)
Due to affiliates			(739	)			—
Account payable and accrued expenses			496				733
Net cash provided by (used in) operating activities			148,585				(232,670	)
Cash flows from financing activities:
Proceeds from public offering			—				82,708
Offering costs			—				(496	)
Borrowings of 2037 Asset-Backed Debt			28,500				—
Borrowings of 2036-R Asset-Backed Debt			21,000				—
Distributions paid to stockholders			(30,510	)			(24,317	)
Borrowings under Credit Facility			27,000				165,001
Repayments under Credit Facility			(222,000	)			—
Net cash provided by (used in) financing activities			(176,010	)			222,896
Net increase (decrease) in cash and cash equivalents			(27,425	)			(9,774	)
Effect of exchange rate changes on cash			5				(14	)
Cash and cash equivalents, beginning of period			122,688				112,050
Cash and cash equivalents, end of period		$	95,268			$	102,262
Supplemental disclosures:
Interest paid		$	29,499			$	23,326
Taxes paid		$	32			$	—
Non-cash purchases and disposition of investments		$	95,625			$	—

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

7

PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES

CONSOLIDATED SCHEDULE OF INVESTMENTS

December 31, 2025

(in thousands, except per share data)

(Unaudited)

Issuer Name		Acquisition		Maturity		Industry		Current Coupon				Basis Point Spread Above Index (1)				Par / Shares				Cost				Fair Value (2)
Investments in Non-Controlled, Non-Affiliated Portfolio Companies - 215.2% (3), (4)
First Lien Secured Debt - 195.4% of Net Assets
ACP Avenu Buyer, LLC		10/2/2023		10/02/2029		IT Services			8.41	%		3M SOFR+ 475					29,965				29,672				29,891
ACP Avenu Buyer, LLC - Unfunded Term Loan (8)		10/2/2023		04/21/2027		IT Services			—				—				10,872				—				27
ACP Avenu Buyer, LLC - Unfunded Revolver (6), (8)		10/2/2023		10/02/2029		IT Services			—				—				7,612				—				(19	)
ACP Falcon Buyer, LLC - Unfunded Revolver (6), (8)		7/26/2023		08/01/2029		Professional Services			—				—				3,096				—				—
Ad.net Acquisition, LLC		5/4/2021		05/07/2026		Media			9.93	%		3M SOFR+ 626					8,135				8,117				8,135
Ad.net Acquisition, LLC - Unfunded Revolver (6), (8)		5/4/2021		05/07/2026		Media			—				—				1,244				—				—
Aechelon Technology, Inc.		8/16/2024		08/16/2029		Aerospace and Defense			9.48	%		1M SOFR+ 575					13,300				13,196				13,300
Aechelon Technology, Inc. - Unfunded Revolver (8)		8/16/2024		08/16/2029		Aerospace and Defense			—				—				4,719				—				—
AFC-Dell Holding Corp.		2/22/2024		04/09/2027		Distributors			8.84	%		3M SOFR+ 500					20,005				19,980				20,005
AFC-Dell Holding Corp. - Unfunded Term Loan (8)		2/22/2024		04/09/2027		Distributors			—				—				7,213				—				—
AFC-Dell Holding Corp. - Unfunded Revolver (8)		2/22/2024		10/09/2028		Distributors			—				—				2,095				—				—
Alpine Acquisition Corp II (10)		8/27/2025		11/30/2026		Containers and Packaging			—				—				4,044				2,903				1,860
Amsive Holdings Corporation		3/2/2020		12/10/2026		Media			9.92	%		3M SOFR+ 625					19,222				19,140				19,030
Aphix Buyer, Inc.		7/17/2025		07/17/2031		Business Services			8.48	%		3M SOFR+ 475					9,615				9,555				9,615
Aphix Buyer, Inc. - Unfunded Term Loan (8)		7/17/2025		07/16/2027		Business Services			—				—				15,341				—				96
Aphix Buyer, Inc. - Unfunded Revolver (8)		7/17/2025		07/17/2031		Business Services			—				—				3,995				—				—
APT OPCO, LLC - Unfunded Term Loan (8)		9/29/2025		09/30/2027		Healthcare Providers and Services			—				—				2,729				—				(17	)
APT OPCO, LLC - Unfunded Revolver (8)		9/29/2025		09/30/2031		Healthcare Providers and Services			—				—				2,729				—				(34	)
Anteriad, LLC (f/k/a MeritDirect, LLC)		5/21/2019		06/30/2026		Media			9.57	%		3M SOFR+ 590					12,012				11,982				12,012
Anteriad, LLC (f/k/a MeritDirect, LLC) - Incremental Term Loan		5/21/2019		06/30/2026		Media			9.57	%		3M SOFR+ 590					1,956				1,952				1,956
Anteriad, LLC (f/k/a MeritDirect, LLC) - Unfunded Revolver (8)		5/21/2019		06/30/2026		Media			—				—				2,869				—				—
Arcfield Acquisition Corp.		10/28/2024		10/28/2031		Aerospace and Defense			8.84	%		3M SOFR+ 500					19,344				19,325				19,248
Arcfield Acquisition Corp. - Unfunded Revolver (6), (8)		10/28/2024		10/28/2031		Aerospace and Defense			—				—				3,547				—				(18	)
Archer Lewis, LLC		8/28/2024		08/28/2029		Healthcare Technology			9.42	%		3M SOFR+ 575					26,475				26,260				26,475
Archer Lewis, LLC - Unfunded Term Loan (8)		8/28/2024		08/28/2026		Healthcare Technology			—				—				13,292				—				133
Archer Lewis, LLC - Funded Revolver		8/28/2024		08/28/2029		Healthcare Technology			9.42	%		3M SOFR+ 575					3,252				3,252				3,252
Argano, LLC		9/13/2024		09/13/2029		Business Services			9.23	%		3M SOFR+ 550					55,679				55,194				56,235
Argano, LLC – Unfunded Revolver (8)		9/13/2024		09/13/2029		Business Services			—				—				1,421				—				—
Azureon, LLC (F/K/A Tpcn Midco, LLC)		6/26/2024		06/26/2029		Diversified Consumer Services			9.43	%		3M SOFR+ 575					22,412				22,205				21,515
Azureon, LLC (F/K/A Tpcn Midco, LLC) - Unfunded Term Loan (8)		6/26/2024		11/26/2027		Diversified Consumer Services			—								13,499				—				(439	)
Azureon, LLC (F/K/A Tpcn Midco, LLC) - Funded Revolver		6/26/2024		06/26/2029		Diversified Consumer Services			9.44	%		3M SOFR+ 575					1,079				1,079				1,035
Azureon, LLC (F/K/A Tpcn Midco, LLC) - Unfunded Revolver (8)		6/26/2024		06/26/2029		Diversified Consumer Services			—				—				2,696				—				(108	)
Beacon Behavioral Support Services, LLC		6/21/2024		06/21/2029		Healthcare Providers and Services			9.17	%		3M SOFR+ 550					21,335				21,103				21,335
Beacon Behavioral Support Services, LLC - Unfunded Term Loan (8)		6/21/2024		12/13/2026		Healthcare Providers and Services			—				—				5,945				—				59
Beacon Behavioral Support Services, LLC - Unfunded Term Loan - 3rd Amendment (8)		6/21/2024		06/21/2027		Healthcare Providers and Services			—				—				23,451				—				235
Beacon Behavioral Support Services, LLC - Unfunded Revolver (8)		6/21/2024		06/21/2029		Healthcare Providers and Services			—				—				2,104				—				—
Best Practice Associates, LLC		11/7/2024		11/08/2029		Aerospace and Defense			10.52	%		3M SOFR+ 675					58,648				57,916				58,208
Best Practice Associates, LLC - Unfunded Revolver (8)		11/7/2024		11/08/2029		Aerospace and Defense			—				—				5,732				—				(43	)
Beta Plus Technologies, Inc.		2/29/2024		07/02/2029		Internet Software and Services			9.42	%		1M SOFR+ 575					32,658				31,979				32,331
Big Top Holdings, LLC		2/29/2024		03/01/2030		Construction & Engineering			8.92	%		3M SOFR+ 525					27,739				27,429				27,739
Big Top Holdings, LLC - Unfunded Revolver (8)		2/29/2024		02/28/2030		Construction & Engineering			—				—				4,479				—				—
Bioderm, Inc.		8/27/2025		01/31/2028		Healthcare Equipment and Supplies			10.36	%		1M SOFR+ 650					990				982				977
Bioderm, Inc. - Funded Revolver		1/30/2023		01/31/2028		Healthcare Equipment and Supplies			10.36	%		1M SOFR+ 650					1,071				1,071				1,058

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

8

PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES

CONSOLIDATED SCHEDULE OF INVESTMENTS-(Continued)

December 31, 2025

(in thousands, except per share data)

(Unaudited)

Issuer Name		Acquisition		Maturity		Industry		Current Coupon				Basis Point Spread Above Index (1)				Par / Shares				Cost				Fair Value (2)
Blackhawk Industrial Distribution, Inc.		6/27/2022		09/17/2026		Distributors			9.07	%		3M SOFR+ 540					8,106				8,084				7,944
Blackhawk Industrial Distribution, Inc. - Funded Revolver (6)		6/27/2022		09/17/2026		Distributors			9.07	%		3M SOFR+ 540					1,941				1,941				1,902
Blackhawk Industrial Distribution, Inc. - Unfunded Revolver (8)		6/27/2022		09/17/2026		Distributors			—				—				1,941				—				(39	)
BLC Holding Company, Inc.		11/20/2024		11/20/2030		Business Services			8.20	%		3M SOFR+ 450					19,305				19,187				19,305
BLC Holding Company, Inc. - Unfunded Term Loan (8)		11/20/2024		11/20/2026		Business Services			—				—				10,994				—				82
BLC Holding Company, Inc. - Unfunded Revolver (8)		11/20/2024		11/20/2030		Business Services			—				—				4,398				—				—
Blue Cloud Pediatric Surgery Centers LLC		8/12/2025		01/21/2031		Healthcare Providers and Services			8.72	%		3M SOFR+ 500					6,036				5,977				5,975
Blue Cloud Pediatric Surgery Centers LLC - Unfunded Term Loan (8)		8/12/2025		07/30/2027		Healthcare Providers and Services			—				—				4,469				—				—
Boss Industries, LLC		12/27/2024		12/27/2030		Independent Power and Renewable Electricity Producers			8.71	%		3M SOFR+ 500					12,053				11,977				12,053
Boss Industries, LLC - Unfunded Revolver (8)		12/27/2024		12/27/2030		Independent Power and Renewable Electricity Producers			—				—				2,744				—				—
Burgess Point Purchaser Corporation		8/12/2024		07/25/2029		Auto Components			9.19	%		3M SOFR+ 535					18,674				17,589				15,766
By Light Professional IT Services, LLC		7/15/2025		07/15/2031		High Tech Industries			9.22	%		1M SOFR+ 550					21,000				20,843				20,790
By Light Professional IT Services, LLC - Unfunded Revolver (6), (8)		7/15/2025		07/15/2031		High Tech Industries			—				—				3,671				—				(37	)
Capital Construction, LLC		6/30/2025		10/22/2026		Consumer Services			9.56	%		3M SOFR+ 590					7,980				7,940				7,880
Carisk Buyer, Inc.		11/27/2023		12/03/2029		Healthcare Technology			8.67	%		3M SOFR+ 500					5,404				5,345				5,444
Carisk Buyer, Inc. - Unfunded Term Loan (8)		11/27/2023		12/03/2029		Healthcare Technology			—				—				7,868				—				130
Carisk Buyer, Inc. - Unfunded Revolver (6), (8)		11/27/2023		12/03/2029		Healthcare Technology			—				—				1,750				—				13
Carnegie Dartlet, LLC		2/7/2024		02/07/2030		Professional Services			9.22	%		3M SOFR+ 550					33,721				33,313				33,384
Carnegie Dartlet, LLC - Unfunded Term Loan (8)		2/7/2024		02/09/2026		Professional Services			—				—				12,430				—				—
Carnegie Dartlet, LLC - Unfunded Revolver (8)		2/7/2024		02/07/2030		Professional Services			—				—				5,405				—				(54	)
Cartessa Aesthetics, LLC		6/1/2022		06/14/2028		Distributors			9.67	%		3M SOFR+ 600					15,681				15,586				15,681
Cartessa Aesthetics, LLC - Unfunded Revolver (6), (8)		6/1/2022		06/14/2028		Distributors			—				—				1,438				—				—
Case Works, LLC		10/1/2024		10/01/2029		Professional Services			8.97	%		3M SOFR+ 525					15,954				15,841				15,683
Case Works, LLC - Funded Revolver		10/1/2024		10/01/2029		Professional Services			8.92	%		3M SOFR+ 525					2,383				2,383				2,342
Case Works, LLC - Unfunded Revolver (8)		10/1/2024		10/01/2029		Professional Services			—				—				1,725				—				(29	)
Cf512, Inc.		8/17/2021		08/20/2026		Media			9.98	%		3M SOFR+ 619					10,273				10,228				10,170
Cf512, Inc. - Funded Revolver		8/17/2021		08/20/2026		Media			9.74	%		3M SOFR+ 602					86				86				85
Cf512, Inc. - Unfunded Revolver (6), (8)		8/17/2021		08/20/2026		Media			—				—				869				—				(9	)
CJX Borrower, LLC		7/8/2021		07/13/2027		Media			9.70	%		3M SOFR+ 576					8,290				8,213				8,290
CJX Borrower, LLC - Unfunded Term Loan (8)		7/8/2021		07/13/2027		Media			—				—				335				—				62
CJX Borrower, LLC - Funded Revolver		7/8/2021		07/13/2027		Media			9.70	%		3M SOFR+ 576					543				543				543
CJX Borrower, LLC - Unfunded Revolver (8)		7/8/2021		07/13/2027		Media			—				—				691				—				—
Coolsys, Inc.		8/27/2025		08/11/2028		Commercial Services & Supplies			8.63	%		3M SOFR+ 501					2,245				1,939				1,984
Commercial Fire Protection Holdings, LLC		9/23/2024		09/23/2030		Commercial Services & Supplies			8.22	%		3M SOFR+ 450					35,028				34,801				35,028
Commercial Fire Protection Holdings, LLC - Unfunded Term Loan (8)		9/23/2024		09/23/2026		Commercial Services & Supplies			—				—				9,592				—				72
Commercial Fire Protection Holdings, LLC - Unfunded Revolver (8)		9/23/2024		09/23/2030		Commercial Services & Supplies			—				—				5,014				—				—
Confluent Health, LLC		3/25/2024		11/30/2028		Healthcare Providers and Services			7.83	%		1M SOFR+ 400					11,673				11,171				11,121
Cornerstone Advisors of Arizona, LLC		5/13/2025		05/13/2032		Consulting Services			8.42	%		3M SOFR+ 475					12,801				12,737				12,737
Cornerstone Advisors of Arizona, LLC - Unfunded Revolver (8)		5/13/2025		05/13/2032		Consulting Services			—				—				1,705				—				(9	)
Crane 1 Services, Inc.		8/11/2021		08/16/2027		Commercial Services & Supplies			9.08	%		3M SOFR+ 525					4,221				4,191				4,189
Crane 1 Services, Inc. - Unfunded Revolver (6), (8)		8/11/2021		08/16/2027		Commercial Services & Supplies			—				—				502				—				(4	)
C5MI Acquisition, LLC		7/31/2024		07/31/2029		IT Services			9.67	%		3M SOFR+ 600					28,638				28,299				28,638
C5MI Acquisition, LLC - Funded Revolver		7/31/2024		07/31/2029		IT Services			9.67	%		3M SOFR+ 600					3,637				3,637				3,637
C5MI Acquisition, LLC - Unfunded Revolver (8)		7/31/2024		07/31/2029		IT Services			—				—				5,456				—				—
DRI Holding Inc.		5/23/2024		12/21/2028		Media			9.07	%		1M SOFR+ 535					13,134				12,911				12,871
DRS Holdings III, Inc.		10/29/2019		11/01/2028		Chemicals, Plastics and Rubber			8.97	%		3M SOFR+ 525					6,613				6,585				6,679
DRS Holdings III, Inc. - Unfunded Revolver (6), (8)		10/29/2019		11/01/2028		Personal Products			—				—				487				—				—
Duggal Acquisition, LLC		9/30/2024		09/30/2030		Marketing Services			8.42	%		3M SOFR+ 475					10,192				10,107				10,192

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

9

PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES

CONSOLIDATED SCHEDULE OF INVESTMENTS-(Continued)

December 31, 2025

(in thousands, except per share data)

(Unaudited)

Issuer Name		Acquisition		Maturity		Industry		Current Coupon				Basis Point Spread Above Index (1)				Par / Shares				Cost				Fair Value (2)
Duggal Acquisition, LLC - Unfunded Term Loan (8)		9/30/2024		09/30/2026		Marketing Services			—				—				4,470				—				45
Duggal Acquisition, LLC - Unfunded Revolver (8)		9/30/2024		09/30/2030		Marketing Services			—				—				5,605				—				—
DX Electric Company, LLC		10/1/2025		10/01/2031		Electronic Equipment, Instruments, and Components			8.92	%		3M SOFR+ 525					7,046				6,994				6,994
DX Electric Company, LLC - Unfunded Revolver (8)		10/1/2025		10/01/2031		Electronic Equipment, Instruments, and Components			—				—				1,257				—				(9	)
Dynata, LLC - First Out Term Loan		7/15/2024		07/17/2028		Business Services			9.14	%		3M SOFR+ 526					2,359				2,263				2,337
Dynata, LLC - Last Out Term Loan		7/15/2024		10/16/2028		Business Services			9.64	%		3M SOFR+ 576					14,635				14,130				8,873
Emergency Care Partners, LLC		10/18/2024		10/18/2027		Healthcare Providers and Services			8.72	%		3M SOFR+ 500					7,920				7,881				7,920
Emergency Care Partners, LLC - Unfunded Term Loan (8)		10/18/2024		10/19/2026		Healthcare Providers and Services			—				—				4,320				—				—
Emergency Care Partners, LLC - Unfunded Revolver (8)		10/18/2024		10/18/2027		Healthcare Providers and Services			—				—				1,810				—				—
EDS Buyer, LLC		12/19/2022		01/10/2029		Electronic Equipment, Instruments, and Components			8.49	%		3M SOFR+ 475					10,539				10,444				10,565
EDS Buyer, LLC. - Unfunded Revolver (6), (8)		12/19/2022		01/10/2029		Electronic Equipment, Instruments, and Components			—				—				2,298				—				6
Efficient Collaborative Retail Marketing Company, LLC		10/23/2018		09/30/2026		Media: Diversified and Production			10.68	%		3M SOFR+ 701					8,392				8,413				6,713
								(PIK 2.5%)
ETE Intermediate II, LLC		5/24/2023		05/29/2029		Diversified Consumer Services			8.72	%		3M SOFR+ 500					1,651				1,642				1,651
ETE Intermediate II, LLC - Unfunded Revolver (8)		5/24/2023		05/25/2029		Diversified Consumer Services			—				—				2,429				—				—
Eval Home Care Solutions Intermediate, LLC		5/10/2024		05/10/2030		Healthcare, Education and Childcare			9.47	%		1M SOFR+ 575					17,357				17,177				17,357
Eval Home Care Solutions Intermediate, LLC - Unfunded Revolver (8)		5/10/2024		05/10/2030		Healthcare, Education and Childcare			—				—				2,640				—				—
Exigo Intermediate II, LLC		8/27/2025		03/15/2027		Software			10.12	%		1M SOFR+ 635					4,775				4,775				4,751
Exigo Intermediate II, LLC - Unfunded Revolver (8)		3/10/2022		03/15/2027		Software			—				—				689				—				(3	)
Express Wash Acquisition Company, LLC		4/10/2025		04/10/2031		Automobiles			10.18	%		3M SOFR+ 625					34,936				34,769				33,363
Express Wash Acquisition Company, LLC - Unfunded Revolver (8)		4/10/2025		04/10/2031		Automobiles			—				—				2,139				—				(96	)
First Medical MSO, LLC		6/13/2025		06/13/2031		Healthcare Providers and Services			9.43	%		3M SOFR+ 575					7,763				7,689				7,685
First Medical MSO, LLC - Unfunded Term Loan (8)		6/13/2025		06/13/2027		Healthcare Providers and Services			—				—				4,700				—				—
First Medical MSO, LLC - Unfunded Revolver (6) (8)		6/13/2025		06/13/2031		Healthcare Providers and Services			—				—				1,000				—				(10	)
Five Star Buyer, Inc.		2/21/2023		02/23/2028		Hotels, Restaurants and Leisure			12.98	%		3M SOFR+ 915					5,199				5,147				5,069
								(PIK 1.00%)
Five Star Buyer, Inc. - Unfunded Revolver (8)		2/21/2023		02/23/2028		Hotels, Restaurants and Leisure			—				—				370				—				(9	)
Gauge ETE Blocker, LLC		5/24/2023		05/21/2029		Diversified Consumer Services			12.56	%			—				285				285				285
GGG Midco, LLC		9/27/2024		09/27/2030		Diversified Consumer Services			8.67	%		3M SOFR+ 500					24,921				24,706				24,921
GGG Midco, LLC - Unfunded Term Loan (8)		9/27/2024		09/27/2030		Diversified Consumer Services			—				—				9,574				—				96
GGG Midco, LLC – Unfunded Revolver (8)		9/27/2024		09/27/2030		Diversified Consumer Services			—				—				1,311				—				—
Global Holdings InterCo, LLC		3/11/2021		03/16/2026		Diversified Financial Services			9.33	%		1M SOFR+ 560					8,715				8,638				8,715
Graffiti Buyer, Inc.		8/9/2021		08/10/2027		Trading Companies & Distributors			9.29	%		3M SOFR+ 560					5,503				5,428				5,380
Graffiti Buyer, Inc. - Unfunded Term Loan (8)		8/9/2021		08/10/2027		Trading Companies & Distributors			—				—				984				—				(15	)
Graffiti Buyer, Inc. - Unfunded Revolver (6), (8)		8/9/2021		08/10/2027		Trading Companies & Distributors			—				—				865				—				(19	)
Hancock Roofing and Construction, LLC		12/23/2020		12/31/2026		Insurance			9.27	%		3M SOFR+ 560					3,916				3,895				3,721
Hancock Roofing and Construction, LLC - Funded Revolver (6)		12/23/2020		12/31/2026		Insurance			9.32	%		3M SOFR+ 560					750				750				713
Halo Buyer, Inc.		2/7/2025		08/07/2029		Consumer products			9.72	%		1M SOFR+ 600					10,572				10,478				10,572
Halo Buyer, Inc. - Funded Revolver		2/7/2025		08/07/2029		Consumer products			9.72	%		1M SOFR+ 600					975				975				975
Halo Buyer, Inc. - Unfunded Revolver (8)		2/7/2025		08/07/2029		Consumer products			—				—				1,747				—				—

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

10

PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES

CONSOLIDATED SCHEDULE OF INVESTMENTS-(Continued)

December 31, 2025

(in thousands, except per share data)

(Unaudited)

Issuer Name		Acquisition		Maturity		Industry		Current Coupon				Basis Point Spread Above Index (1)				Par / Shares				Cost				Fair Value (2)
Harris & Co. LLC		8/9/2024		08/09/2030		Professional Services			8.72	%		3M SOFR+ 500					88,129				87,407				87,468
Harris & Co. LLC. - Unfunded Term Loan B (8)		8/9/2024		02/09/2026		Professional Services			—				—				1,542				—				2
Harris & Co. LLC - Unfunded Term Loan C (8)		8/9/2024		08/18/2027		Professional Services			—				—				4,192				—				5
Harris & Co. LLC - Funded Revolver		8/9/2024		08/09/2030		Professional Services			8.72	%		1M SOFR+ 500					1,924				1,924				1,910
Harris & Co. LLC - Unfunded Revolver (8)		8/9/2024		08/09/2030		Professional Services			—				—				7,696				—				(58	)
HEC Purchaser Corp.		7/25/2024		06/17/2029		Healthcare, Education and Childcare			8.67	%		3M SOFR+ 500					9,430				9,344				9,430
Help/Systems Holdings, Inc.		8/27/2025		11/30/2026		Software			9.97	%		3M SOFR+ 610					1,440				1,357				1,299
Hills Distribution, Inc.		11/2/2023		11/08/2029		Distributors			9.19	%		1M SOFR+ 550					18,613				18,438				18,427
Hills Distribution, Inc. - Unfunded Term Loan (8)		11/2/2023		12/05/2027		Distributors			—				—				2,384				—				(12	)
HW Holdco, LLC		1/9/2019		05/11/2026		Media			9.62	%		3M SOFR+ 590					12,177				12,165				12,177
HW Holdco, LLC - Unfunded Revolver (6), (8)		1/9/2019		05/11/2026		Media			—				—				1,452				—				—
IG Investments Holdings, LLC (6)		11/23/2021		09/22/2028		Professional Services			8.84	%		3M SOFR+ 500					9,533				9,462				9,485
IG Investments Holdings, LLC - Unfunded Revolver (6), (8)		11/23/2021		09/22/2028		Professional Services			—				—				722				—				(4	)
Imagine Acquisitionco, Inc. - Unfunded Revolver (8)		11/4/2021		11/16/2027		Software			—				—				1,193				—				—
Impact Advisors, LLC		3/21/2025		03/19/2032		Business Services			8.17	%		3M SOFR+ 450					16,476				16,397				16,476
Impact Advisors, LLC - Unfunded Term Loan (8)		3/21/2025		03/21/2027		Business Services			—				—				9,723				—				49
Impact Advisors, LLC - Unfunded Revolver (8)		3/21/2025		03/19/2032		Business Services			—				—				1,945				—				—
Infinity Home Services Holdco, Inc.		12/21/2022		12/28/2028		Commercial Services & Supplies			9.17	%		3M SOFR+ 550					14,818				14,738				14,818
Infinity Home Services Holdco, Inc. (CAD)		12/21/2022		12/28/2028		Commercial Services & Supplies			9.17	%		3M SOFR+ 550					CAD 1,700				1,229				1,240
Infinity Home Services Holdco, Inc. - Unfunded Term Loan (8)		12/21/2022		10/30/2026		Commercial Services & Supplies			—				—				7,069				—				35
Infinity Home Services Holdco, Inc. - Unfunded Revolver (8)		12/21/2022		12/28/2028		Commercial Services & Supplies			—				—				1,292				—				—
Inovex Information Systems Incorporated		12/17/2024		12/17/2030		Software			8.92	%		3M SOFR+ 525					7,920				7,868				7,920
Inovex Information Systems Incorporated - Unfunded Term Loan (8)		12/17/2024		12/17/2026		Software			—				—				2,800				—				—
Inovex Information Systems Incorporated - Funded Revolver		12/17/2024		12/17/2030		Software			11.25	%		3M SOFR+ 425					2,695				2,695				2,695
Inovex Information Systems Incorporated - Unfunded Revolver (8)		12/17/2024		12/17/2030		Software			—				—				805				—				—
Infolinks Media Buyco, LLC		2/22/2024		11/02/2026		Media			9.42	%		3M SOFR+ 575					10,153				10,129				9,849
Inventus Power, Inc.		6/29/2023		01/15/2026		Electronic Equipment, Instruments, and Components			11.33	%		3M SOFR+ 761					4,875				4,874				4,875
Inventus Power, Inc. - Unfunded Revolver (8)		6/29/2023		01/15/2026		Electronic Equipment, Instruments, and Components			—				—				1,729				—				—
Keel Platform, LLC		1/26/2024		01/20/2031		Metals and Mining			8.42	%		3M SOFR+ 475					14,601				14,440				14,455
Keel Platform, LLC - Unfunded Term Loan (8)		1/26/2024		01/20/2031		Metals and Mining			—				—				3,260				—				(8	)
Kinetic Purchaser, LLC		11/8/2021		11/10/2027		Personal Products			9.82	%		3M SOFR+ 615					17,955				17,672				14,589
Kinetic Purchaser, LLC - Funded Revolver		11/8/2021		11/10/2026		Personal Products			9.82	%		3M SOFR+ 615					2,172				2,172				1,765
Kinetic Purchaser, LLC - Unfunded Revolver (6), (8)		11/8/2021		11/10/2026		Personal Products			—				—				1,262				—				(237	)
Lash OpCo, LLC		8/16/2021		02/18/2027		Personal Products			8.82	%		1M SOFR+ 510					16,378				16,260				15,969
								(PIK 5.10%)					—
Lash OpCo, LLC - Funded Revolver (6)		8/16/2021		08/16/2026		Personal Products			8.82	%		1M SOFR+ 510					264				264				258
								(PIK 5.10%)
Lash OpCo, LLC - Unfunded Revolver (6) (8)		8/16/2021		08/16/2026		Personal Products			—				—				2,738				—				(68	)
LAV Gear Holdings, Inc.		7/31/2025		07/31/2029		Capital Equipment			9.65	%		1M SOFR+ 595					9,642				9,651				9,967
LAV Gear Holdings, Inc. - Incremental TL		7/31/2025		07/31/2029		Capital Equipment			9.65	%		1M SOFR+ 594					1,105				1,075				1,343
LAV Gear Holdings, Inc. - Unfunded Revolver (6) (8)		7/31/2025		07/31/2029		Capital Equipment			—				—				703				—				—
Ledge Lounger, Inc.		2/7/2022		11/09/2026		Leisure Products			11.32	%		3M SOFR+ 765					8,070				7,890				6,496
								(PIK 1.00%)
Ledge Lounger, Inc. - Funded Revolver		2/7/2022		11/09/2026		Leisure Products			11.32	%		3M SOFR+ 765					702				702				565
								(PIK 1.00%)
Lightspeed Buyer, Inc.		1/21/2020		02/03/2027		Healthcare Technology			8.42	%		3M SOFR+ 475					22,860				22,781				22,860
Lightspeed Buyer, Inc. - Unfunded Revolver (6), (8)		1/21/2020		02/03/2027		Healthcare Technology			—				—				2,499				—				—
LJ Avalon Holdings, LLC		1/18/2023		02/01/2030		Construction & Engineering			8.29	%		3M SOFR+ 450					11,785				11,741				11,785
LJ Avalon Holdings, LLC - Unfunded Term Loan (8)		1/18/2023		02/08/2027		Construction & Engineering			—				—				4,873				—				24
LJ Avalon Holdings, LLC - Unfunded Revolver (6), (8)		1/18/2023		02/01/2029		Construction & Engineering			—				—				2,883				—				—

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

11

PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES

CONSOLIDATED SCHEDULE OF INVESTMENTS-(Continued)

December 31, 2025

(in thousands, except per share data)

(Unaudited)

Issuer Name		Acquisition		Maturity		Industry		Current Coupon				Basis Point Spread Above Index (1)				Par / Shares				Cost				Fair Value (2)
Loving Tan Intermediate II, Inc.		5/24/2023		05/31/2028		Personal Products			8.67	%		3M SOFR+ 500					57,803				57,257				57,514
Loving Tan Intermediate II, Inc. - Unfunded Term Loan (8)		5/24/2023		12/31/2026		Personal Products			—				—				6,365				—				32
Loving Tan Intermediate II, Inc. - Unfunded Term Loan - 2nd Amendment (8)		5/24/2023		12/31/2026		Personal Products			—				—				9,172				—				—
Loving Tan Intermediate II, Inc. - Funded Revolver		5/24/2023		05/31/2028		Personal Products			8.69	%		3M SOFR+ 500					2,217				2,217				2,206
Loving Tan Intermediate II, Inc. - Unfunded Revolver (8)		5/24/2023		05/31/2028		Personal Products			—				—				5,173				—				(26	)
MAG DS Corp.		9/21/2020		04/01/2027		Aerospace and Defense			9.27	%		3M SOFR+ 560					12,171				11,984				12,106
Marketplace Events Acquisition, LLC		12/19/2024		12/19/2030		Media			8.95	%		3M SOFR+ 525					64,780				64,216				64,780
Marketplace Events Acquisition, LLC - Funded Revolver		12/19/2024		12/19/2030		Media			8.99	%		3M SOFR+ 525					1,939				1,939				1,939
Marketplace Events Acquisition, LLC - Unfunded Revolver (8)		12/19/2024		12/19/2030		Media			—				—				4,158				—				—
MBS Holdings, Inc.		12/19/2024		04/16/2027		Internet Software and Services			8.92	%		3M SOFR+ 510					499				497				499
MBS Holdings, Inc. - Unfunded Revolver (6), (8)		4/14/2021		04/16/2027		Internet Software and Services			—				—				1,157				—				—
MDI Buyer, Inc.		3/16/2023		07/25/2028		Commodity Chemicals			8.46	%		3M SOFR+ 475					6,650				6,597				6,650
MDI Buyer, Inc. - Unfunded Term Loan (8)		3/16/2023		07/25/2028		Commodity Chemicals			—				—				2,815				—				21
MDI Buyer, Inc. - Funded Revolver		7/19/2022		07/25/2028		Commodity Chemicals			11.50	%		3M SOFR+ 400					1,307				1,307				1,307
MDI Buyer, Inc. - Unfunded Revolver (6), (8)		7/19/2022		07/25/2028		Commodity Chemicals			—				—				571				—				—
Meadowlark Acquirer, LLC		12/9/2021		12/10/2027		Professional Services			9.32	%		3M SOFR+ 565					4,333				4,290				4,333
Meadowlark Acquirer, LLC - Funded Revolver		12/9/2021		12/10/2027		Professional Services			9.32	%		3M SOFR+ 565					339				339				339
Meadowlark Acquirer, LLC - Unfunded Revolver (8)		12/9/2021		12/10/2027		Professional Services			—				—				1,354				—				—
Medina Health, LLC		10/16/2023		10/20/2028		Healthcare Providers and Services			9.95	%		3M SOFR+ 625					17,480				17,291				17,480
Medina Health, LLC - Unfunded Revolver (8)		10/16/2023		10/20/2028		Healthcare Providers and Services			—				—				5,187				—				—
Megawatt Acquisitionco, Inc.		3/1/2024		03/01/2030		Electronic Equipment, Instruments, and Components			9.17	%		3M SOFR+ 550					9,825				9,538				9,825
Megawatt Acquisitionco, Inc. - Unfunded Revolver (8)		3/1/2024		03/01/2030		Electronic Equipment, Instruments, and Components			—				—				3,250				—				—
MOREgroup Holdings, Inc.		1/9/2024		01/16/2030		Construction & Engineering			8.94	%		3M SOFR+ 525					26,944				26,657				26,944
MOREgroup Holdings, Inc. - Unfunded Term Loan (8)		1/9/2024		01/16/2026		Construction & Engineering			—				—				11,056				—				111
MOREgroup Holdings, Inc. - Unfunded Revolver (8)		1/9/2024		01/16/2030		Construction & Engineering			—				—				6,634				—				—
MES Intermediate, Inc.		9/23/2021		10/01/2027		Distributors			8.42	%		3M SOFR+ 475					13,996				13,931				13,996
MES Intermediate, Inc. - Funded Revolver		9/23/2021		10/01/2027		Distributors			11.50	%		3M SOFR+ 400					237				237				237
MES Intermediate, Inc. - Unfunded Revolver (6) (8)		9/23/2021		10/01/2027		Distributors			—				—				1,066				—				—
NBH Group, LLC		8/29/2025		08/19/2026		Healthcare Equipment and Supplies			9.71	%		1M SOFR+ 585					2,564				2,564				2,564
NBH Group, LLC - Unfunded Revolver (6), (8)		8/16/2021		08/19/2026		Healthcare Equipment and Supplies			—				—				1,677				—				—
NORA Acquisition, LLC		8/22/2023		08/31/2029		Healthcare Providers and Services			10.02	%		3M SOFR+ 635					20,691				20,415				20,070
NORA Acquisition, LLC - Funded Revolver		8/22/2023		08/31/2029		Healthcare Providers and Services			10.02	%		3M SOFR+ 635					2,466				2,466				2,392
NORA Acquisition, LLC - Unfunded Revolver (6), (8)		8/22/2023		08/31/2029		Healthcare Providers and Services			—				—				3,013				—				(90	)
North American Rail Solutions, LLC		8/29/2025		08/29/2031		Manufacturing/Basic Industry			8.42	%		3M SOFR+ 475					30,424				30,272				30,272
North American Rail Solutions, LLC - Unfunded Term Loan (8)		8/29/2025		08/29/2027		Manufacturing/Basic Industry			—				—				4,231				—				—
North American Rail Solutions, LLC - Funded Revolver		8/29/2025		08/29/2031		Manufacturing/Basic Industry			8.47	%		3M SOFR+ 475					1,015				1,015				1,010
North American Rail Solutions, LLC - Unfunded Revolver (8)		8/29/2025		08/29/2031		Manufacturing/Basic Industry			—				—				4,908				—				(25	)
Omnia Exterior Solutions, LLC		12/29/2023		12/31/2029		Diversified Consumer Services			8.92	%		3M SOFR+ 525					23,457				23,299				23,163
Omnia Exterior Solutions, LLC - Unfunded Term Loan (8)		12/29/2023		09/30/2026		Diversified Consumer Services			—				—				8,705				—				(33	)
Omnia Exterior Solutions, LLC - Funded Revolver		12/29/2023		12/31/2029		Diversified Consumer Services			8.97	%		1M SOFR+ 525					2,240				2,240				2,212
Omnia Exterior Solutions, LLC - Unfunded Revolver (6), (8)		12/29/2023		12/31/2029		Diversified Consumer Services			—				—				1,960				—				(25	)
One Stop Mailing, LLC		5/26/2021		05/07/2027		Air Freight and Logistics			10.08	%		3M SOFR+ 636					12,866				12,813				12,866
ORL Acquisition, Inc. (6)		9/1/2021		09/03/2027		Consumer Finance			13.07	%		3M SOFR+ 940					7,891				7,629				6,155
								(PIK 7.50%)
ORL Acquisition, Inc. - Unfunded Revolver (6), (8)		9/1/2021		09/03/2027		Consumer Finance			—				—				215				—				(47	)
OSP Embedded Purchaser, LLC		12/11/2023		12/17/2029		Aerospace and Defense			9.47	%		3M SOFR+ 575					29,734				29,443				28,188
OSP Embedded Purchaser, LLC - Funded Revolver		12/11/2023		12/17/2029		Aerospace and Defense			9.75	%		3M SOFR+ 575					293				293				278
OSP Embedded Purchaser, LLC - Unfunded Revolver (8)		12/11/2023		12/17/2029		Aerospace and Defense			—				—				2,639				—				(137	)
Output Services Group, Inc. - First-out Term Loan		11/30/2023		11/30/2028		Business Services			12.16	%		3M SOFR+ 843					828				828				828

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

12

PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES

CONSOLIDATED SCHEDULE OF INVESTMENTS-(Continued)

December 31, 2025

(in thousands, except per share data)

(Unaudited)

Issuer Name		Acquisition		Maturity		Industry		Current Coupon				Basis Point Spread Above Index (1)				Par / Shares				Cost				Fair Value (2)
Output Services Group, Inc. - Last-out Term Loan		11/30/2023		05/30/2028		Business Services			10.41	%		3M SOFR+ 668					1,681				1,681				1,681
Pacific Purchaser, LLC		10/2/2023		10/02/2028		Professional Services			9.85	%		3M SOFR+ 625					4,900				4,839				4,782
Pacific Purchaser, LLC - Unfunded Revolver (8)		10/2/2023		10/02/2028		Professional Services			—				—				1,799				—				(43	)
PAR Excellence Holdings, Inc.		9/3/2024		09/03/2030		Healthcare Technology			8.74	%		3M SOFR+ 500					20,379				20,212				20,023
PAR Excellence Holdings, Inc. - Unfunded Revolver (8)		9/3/2024		09/03/2030		Healthcare Technology			—				—				4,692				—				(82	)
Paving Lessor Corp.		7/1/2025		07/01/2031		Business Services			8.94	%		3M SOFR+ 525					11,206				11,124				11,150
Paving Lessor Corp. - Unfunded Term Loan (8)		7/1/2025		07/01/2027		Business Services			—				—				8,632				—				22
Paving Lessor Corp. - Unfunded Revolver (8)		7/1/2025		07/01/2031		Business Services			—				—				5,755				—				(29	)
Peninsula Pacific Entertainment, LLC		8/15/2025		08/22/2032		Gaming			8.42	%		3M SOFR+ 475					15,002				14,854				15,040
Peninsula Pacific Entertainment, LLC - Unfunded Term Loan (8)		8/15/2025		08/25/2027		Gaming			—				—				3,516				—				26
Penta Group Holdings, Inc.		7/31/2025		07/31/2031		Professional Services			8.17	%		3M SOFR+ 450					10,000				9,950				9,950
Penta Group Holdings, Inc. - Unfunded Term Loan (8)		7/31/2025		07/31/2027		Professional Services			—				—				6,056				—				—
Penta Group Holdings, Inc. - Funded Revolver		7/31/2025		07/31/2031		Professional Services			8.17	%		3M SOFR+ 450					946				946				942
Penta Group Holdings, Inc. - Unfunded Revolver (8)		7/31/2025		07/31/2031		Professional Services			—				—				568				—				(3	)
PCS MIDCO, Inc.		3/1/2024		03/01/2030		Professional Services			9.42	%		3M SOFR+ 575					9,205				9,110				9,251
PCS MIDCO, Inc. - Unfunded Term Loan (8)		3/1/2024		03/02/2026		Professional Services			—				—				2,087				—				31
PCS MIDCO, Inc. - Unfunded Revolver (8)		3/1/2024		03/01/2030		Professional Services			—				—				1,770				—				9
PD Tri-State Holdco, LLC - Unfunded Term Loan (8)		10/14/2025		10/14/2027		Diversified Consumer Services			—				—				4,140				—				11
PD Tri-State Holdco, LLC - Unfunded Revolver (8)		10/14/2025		10/14/2030		Diversified Consumer Services			—				—				276				—				(2	)
Pink Lilly Holdco, LLC (10)		11/5/2021		11/09/2027		Textiles, Apparel and Luxury Goods			—				—				9,949				8,425				1,244
Pink Lilly Holdco, LLC - Funded Revolver (10)		11/5/2021		11/09/2027		Textiles, Apparel and Luxury Goods			—				—				611				611				76
Pink Lilly Holdco, LLC - Unfunded Revolver (8) (10)		11/5/2021		11/09/2027		Textiles, Apparel and Luxury Goods			—				—				534				—				(467	)
Podean Buyer, LLC		8/4/2025		08/04/2031		Marketing Services			9.66	%		3M SOFR+ 600					2,993				2,963				2,963
Podean Buyer, LLC - Unfunded Revolver (8)		8/4/2025		08/04/2031		Marketing Services			—				—				1,579				—				(16	)
Project Granite Buyer, Inc.		12/31/2024		12/31/2030		Professional Services			9.42	%		3M SOFR+ 575					7,920				7,852				7,999
Project Granite Buyer, Inc. - Unfunded Term Loan (8)		12/31/2024		12/31/2026		Professional Services			—				—				1,708				—				34
Project Granite Buyer, Inc. - Unfunded Revolver (8)		12/31/2024		12/31/2030		Professional Services			—				—				2,846				—				28
Puget Collision, LLC		10/3/2025		10/03/2031		Automobiles			8.43	%		3M SOFR+ 475					6,144				6,056				6,106
Puget Collision, LLC - Unfunded Term Loan (8)		10/3/2025		10/03/2027		Automobiles			—				—				24,766				—				—
Puget Collision, LLC - Funded Revolver		10/3/2025		10/03/2031		Automobiles			8.42	%		3M SOFR+ 475					609				609				605
Puget Collision, LLC - Unfunded Revolver (8)		10/3/2025		10/03/2031		Automobiles			—				—				3,451				—				(22	)
Pragmatic Institute, LLC (10)		3/28/2025		03/28/2030		Professional Services			—				—				587				573				357
Rancho Health MSO, Inc.		12/20/2024		06/20/2029		Healthcare Equipment and Supplies			8.69	%		3M SOFR+ 500					2,417				2,409				2,417
Rancho Health MSO, Inc. - Unfunded Term Loan (8)		12/20/2024		06/30/2026		Healthcare Equipment and Supplies			—				—				3,034				—				28
Rancho Health MSO, Inc. - Unfunded Revolver (6), (8)		12/20/2024		06/20/2029		Healthcare Equipment and Supplies			—				—				3,300				—				—
Recteq, LLC		1/27/2021		01/29/2026		Leisure Products			10.07	%		3M SOFR+ 640					3,810				3,807				3,810
Recteq, LLC - Funded Revolver		1/27/2021		01/29/2026		Leisure Products			9.84	%		3M SOFR+ 625					583				583				583
Recteq, LLC - Unfunded Revolver (6), (8)		1/27/2021		01/29/2026		Leisure Products			—				—				713				—				—
Rosco Parent, LLC		9/9/2025		09/12/2031		Business Services			8.42	%		3M SOFR+ 475					11,471				11,389				11,385
Rosco Parent, LLC - Funded Revolver		9/9/2025		09/12/2031		Business Services			8.42	%		3M SOFR+ 475					750				750				744
Rosco Parent, LLC - Unfunded Revolver (8)		9/9/2025		09/12/2031		Business Services			—				—				2,133				—				(16	)
Riverpoint Medical, LLC		6/19/2019		06/21/2027		Healthcare Equipment and Supplies			8.17	%		3M SOFR+ 450					9,278				9,234				9,278
Riverpoint Medical, LLC - Unfunded Revolver (6), (8)		6/19/2019		06/21/2027		Healthcare Equipment and Supplies			—				—				909				—				—
Ro Health, LLC		1/16/2025		01/17/2031		Healthcare Providers and Services			8.17	%		3M SOFR+ 450					15,295				15,196				15,295
Ro Health, LLC - Funded Revolver		1/16/2025		01/17/2031		Healthcare Providers and Services			8.17	%		3M SOFR+ 450					2,329				2,329				2,329
Ro Health, LLC - Unfunded Revolver (8)		1/16/2025		01/17/2031		Healthcare Providers and Services			—				—				5,435				—				—
RRA Corporate, LLC		8/15/2024		08/15/2029		Diversified Consumer Services			8.94	%		3M SOFR+ 525					25,827				25,600				25,026
RRA Corporate, LLC - Unfunded Term Loan (8)		8/15/2024		08/17/2026		Diversified Consumer Services			—				—				7,119				—				(149	)
RRA Corporate, LLC - Funded Revolver		8/15/2024		08/15/2029		Diversified Consumer Services			8.92	%		3M SOFR+ 525					4,265				4,265				4,133
RRA Corporate, LLC - Unfunded Revolver (8)		8/15/2024		08/15/2029		Diversified Consumer Services			—				—				2,452				—				(76	)
RTIC Subsidiary Holdings, LLC		5/3/2024		05/03/2029		Leisure Products			9.42	%		3M SOFR+ 575					42,233				41,718				41,811
RTIC Subsidiary Holdings, LLC - Unfunded Revolver (8)		5/3/2024		05/03/2029		Leisure Products			—				—				9,417				—				(94	)

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

13

PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES

CONSOLIDATED SCHEDULE OF INVESTMENTS-(Continued)

December 31, 2025

(in thousands, except per share data)

(Unaudited)

Issuer Name		Acquisition		Maturity		Industry		Current Coupon				Basis Point Spread Above Index (1)				Par / Shares				Cost				Fair Value (2)
Rural Sourcing Holdings, Inc.		6/8/2023		06/15/2029		Professional Services			9.42	%		3M SOFR+ 575					2,224				2,188				2,002
Rural Sourcing Holdings, Inc. - Funded Revolver		6/8/2023		06/15/2029		Professional Services			9.42	%		3M SOFR+ 575					487				487				438
Rural Sourcing Holdings, Inc. - Unfunded Revolver (6), (8)		6/8/2023		06/15/2029		Professional Services			—				—				373				—				(37	)
Sabel Systems Technology Solutions, LLC		10/31/2024		10/31/2030		Government Services			9.72	%		3M SOFR+ 600					59,624				59,064				59,624
Sabel Systems Technology Solutions, LLC - Unfunded Revolver (8)		10/31/2024		10/31/2030		Government Services			—				—				4,978				—				—
Safe Haven Defense US, LLC		5/23/2024		05/23/2029		Building Products			9.28	%		3M SOFR+ 550					19,790				19,635				19,296
Safe Haven Defense US, LLC - Funded Revolver		5/23/2024		05/23/2029		Building Products			11.25	%		3M SOFR+ 450					876				876				854
Safe Haven Defense US, LLC - Unfunded Revolver (8)		5/23/2024		05/23/2029		Building Products			—				—				2,044				—				(51	)
Sales Benchmark Index, LLC		12/23/2019		07/07/2026		Professional Services			9.87	%		3M SOFR+ 620					2,497				2,494				2,497
Sales Benchmark Index, LLC - Funded Revolver		12/23/2019		07/07/2026		Professional Services			9.87	%		3M SOFR+ 620					431				431				431
Sales Benchmark Index, LLC - Unfunded Revolver (6), (8)		12/23/2019		07/07/2026		Professional Services			—				—				646				—				—
Sath Industries, LLC		12/17/2024		12/17/2029		Event Services			9.19	%		3M SOFR+ 550					7,920				7,856				7,920
Sath Industries, LLC - Unfunded Revolver (8)		12/17/2024		12/17/2029		Event Services			—				—				2,466				—				—
Schlesinger Global, Inc.		10/24/2019		03/31/2027		Professional Services			9.82	%		3M SOFR+ 610					8,248				8,237				7,836
								(PIK 5.85%)
Schlesinger Global, Inc. - Funded Revolver		10/24/2019		03/31/2027		Professional Services			9.82	%		3M SOFR+ 610					1,691				1,691				1,606
								(PIK 5.85%)
Schlesinger Global, Inc. - Unfunded Revolver (6), (8)		10/24/2019		03/31/2027		Professional Services			—				—				401				—				(20	)
Seacoast Service Partners NA, LLC		12/20/2024		12/20/2029		Diversified Consumer Services			8.92	%		3M SOFR+ 525					12,122				12,031				11,564
Seacoast Service Partners NA, LLC - Unfunded Term Loan (8)		12/20/2024		12/21/2026		Diversified Consumer Services			—				—				4,097				—				(153	)
Seacoast Service Partners NA, LLC - Funded Revolver		12/20/2024		12/20/2029		Diversified Consumer Services			8.92	%		3M SOFR+ 525					1,125				1,125				1,073
Seacoast Service Partners NA, LLC - Unfunded Revolver (8)		12/20/2024		12/20/2029		Diversified Consumer Services			—				—				998				—				(46	)
Seaway Buyer, LLC		7/25/2024		06/13/2029		Chemicals, Plastics and Rubber			9.88	%		3M SOFR+ 615					1,877				1,861				1,792
Sigma Defense Systems, LLC		11/30/2021		12/20/2027		IT Services			10.62	%		3M SOFR+ 690					21,777				21,517				21,559
Sigma Defense Systems, LLC - Unfunded Term Loan		11/30/2021		12/20/2027		IT Services			—				—				5,031				—				—
Sigma Defense Systems, LLC - Unfunded Revolver (6), (8)		11/30/2021		12/20/2027		IT Services			—				—				3,311				—				(33	)
Smile Brands, Inc.		10/4/2018		10/12/2027		Healthcare and Pharmaceuticals			9.77	%		1M SOFR+ 610					4,616				4,361				4,057
								(PIK 1.50%)
Smile Brands, Inc. - Funded Revolver		10/4/2018		10/12/2027		Healthcare and Pharmaceuticals			9.77	%		1M SOFR+ 610					1,580				1,580				1,389
Smile Brands, Inc. - Unfunded Revolver (6), (8)		10/4/2018		10/12/2027		Healthcare and Pharmaceuticals			—				—				2				—				—
Smile Brands, Inc. - Unfunded Revolver - LC (6) (8)		10/4/2018		10/12/2027		Healthcare and Pharmaceuticals			—				—				100				—				(12	)
Spendmend Holdings, LLC		3/1/2022		03/01/2028		Healthcare Technology			8.87	%		3M SOFR+ 515					3,722				3,701				3,722
Spendmend Holdings, LLC - Unfunded Term Loan (8)		3/1/2022		11/25/2026		Healthcare Technology			—				—				2,139				—				11
Spendmend Holdings, LLC - Funded Revolver		3/1/2022		03/01/2028		Healthcare Technology			8.82	%		3M SOFR+ 515					149				149				149
Spendmend Holdings, LLC - Unfunded Revolver (8)		3/1/2022		03/01/2028		Healthcare Technology			—				—				743				—				—
STG Distribution, LLC - First Out New Money Term Loans (10)		8/27/2025		10/03/2029		Air Freight and Logistics			—				—				789				705				671
STG Distribution, LLC - Second Out Term Loans (10)		8/27/2025		10/03/2029		Air Freight and Logistics			—				—				1,824				541				137
SV-Aero Holdings, LLC		10/31/2024		11/01/2030		Aerospace and Defense			8.67	%		3M SOFR+ 500					15,178				15,114				15,178
SV-Aero Holdings, LLC - Unfunded Term Loan (8)		10/31/2024		11/02/2026		Aerospace and Defense			—				—				7,259				—				36
Symplr Software, Inc.		8/27/2025		12/20/2027		Software			8.44	%		3M SOFR+ 460					679				626				575
Systems Planning And Analysis, Inc.		10/12/2021		08/16/2027		Aerospace and Defense			8.42	%		3M SOFR+ 475					39,256				39,018				39,138
Systems Planning And Analysis, Inc. - Funded Revolver		10/12/2021		08/16/2027		Aerospace and Defense			8.50	%		3M SOFR+ 475					3,098				3,098				3,089
Systems Planning And Analysis, Inc. - Unfunded Term Loan (8)		10/12/2021		06/12/2027		Aerospace and Defense			—				—				2,131				—				4
Systems Planning And Analysis, Inc. - Unfunded Revolver (8)		10/12/2021		08/16/2027		Aerospace and Defense			—				—				5,266				—				(16	)
TCG 3.0 Jogger Acquisitionco, Inc.		1/23/2024		01/23/2029		Media			10.17	%		3M SOFR+ 650					9,321				9,241				9,182
TCG 3.0 Jogger Acquisitionco, Inc. - Funded Revolver		1/23/2024		01/23/2029		Media			12.25	%		3M SOFR+ 550					1,165				1,165				1,147
TCG 3.0 Jogger Acquisitionco, Inc. - Unfunded Revolver (8)		1/23/2024		01/23/2029		Media			—				—				1,262				—				(19	)
Team Services Group, LLC		2/23/2024		12/20/2027		Healthcare Providers and Services			9.09	%		3M SOFR+ 525					15,713				15,568				15,645
The Bluebird Group, LLC		7/22/2021		07/28/2026		Professional Services			9.60	%		3M SOFR+ 590					7,252				7,227				7,252
The Bluebird Group, LLC - Unfunded Revolver (6), (8)		7/22/2021		07/28/2026		Professional Services			—				—				862				—				—
The Vertex Companies, LLC (6)		8/25/2021		08/31/2028		Construction & Engineering			8.82	%		1M SOFR+ 510					15,521				15,422				15,428
The Vertex Companies, LLC - Funded Revolver		8/25/2021		08/31/2028		Construction & Engineering			8.82	%		1M SOFR+ 510					1,642				1,642				1,632

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

14

PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES

CONSOLIDATED SCHEDULE OF INVESTMENTS-(Continued)

December 31, 2025

(in thousands, except per share data)

(Unaudited)

Issuer Name		Acquisition		Maturity		Industry		Current Coupon				Basis Point Spread Above Index (1)				Par / Shares				Cost				Fair Value (2)
The Vertex Companies, LLC - Unfunded Revolver (6), (8)		8/25/2021		08/31/2028		Construction & Engineering			—				—				3,831				—				(23	)
TMII Enterprises, LLC		12/19/2022		12/22/2028		Commercial Services & Supplies			8.22	%		3M SOFR+ 450					1,559				1,544				1,559
TMII Enterprises, LLC - Unfunded Revolver (6), (8)		12/19/2022		12/22/2028		Commercial Services & Supplies			—				—				748				—				—
TPC US Parent, LLC		11/15/2019		02/23/2026		Food Products			9.48	%		3M SOFR+ 590					12,227				12,220				12,215
TransGo, LLC		12/29/2023		12/29/2028		Auto Components			9.51	%		3M SOFR+ 575					10,269				10,158				10,269
TransGo, LLC - Unfunded Revolver (6), (8)		12/29/2023		12/29/2028		Auto Components			—				—				4,440				—				—
Tyto Athene, LLC		3/26/2021		04/03/2028		IT Services			8.56	%		3M SOFR+ 490					11,875				11,799				11,400
Walker Edison Furniture Company, LLC - New Money DIP		8/29/2025		03/01/2029		Wholesale			10.00	%			—				243				243				253
Walker Edison Furniture Company, LLC - Unfunded Term Loan (8)		8/29/2025		03/01/2029		Wholesale			—				—				347				—				11
Watchtower Buyer, LLC		11/29/2023		12/03/2029		Electronic Equipment, Instruments, and Components			9.70	%		3M SOFR+ 600					12,739				12,622				12,739
Watchtower Buyer, LLC - Funded Revolver		11/29/2023		12/03/2029		Electronic Equipment, Instruments, and Components			9.69	%		3M SOFR+ 600					1,050				1,050				1,050
Watchtower Buyer, LLC - Unfunded Revolver (8)		11/29/2023		12/03/2029		Electronic Equipment, Instruments, and Components			—				—				5,250				—				—
Wash & Wax Systems, LLC		4/30/2025		04/30/2028		Consumer Services			9.34	%		3M SOFR+ 550					6,431				6,532				6,559
Wash & Wax Systems, LLC - Funded Revolver		4/30/2025		04/30/2028		Consumer Services			9.34	%		3M SOFR+ 550					565				565				564
Wash & Wax Systems, LLC - Unfunded Revolver (6) (8)		4/30/2025		04/30/2028		Consumer Services			—								282				—				—
Total First Lien Secured Debt																				$	2,058,943			$	2,033,217
Second Lien Secured Debt - 0.1% of Net Assets
Team Services Group, LLC - 2nd Lien		2/23/2024		12/18/2028		Healthcare Providers and Services			13.10	%		3M SOFR+ 926					1,000				996				995
Total Second Lien Secured Debt																				$	996			$	995
Subordinate Debt - 1.8% of Net Assets
Beacon Behavioral Holdings, LLC		6/21/2024		06/21/2030		Healthcare Providers and Services			15.00	%			—				5,429				5,379				5,429
Integrative Nutrition, LLC - Promissory Note #1		4/17/2025		04/15/2030		Consumer Services			—				—				2,623				2,294				2,243
Integrative Nutrition, LLC - Promissory Note #2		4/17/2025		04/15/2033		Consumer Services			—				—				5,975				2,763				2,763
ORL Holdco, Inc. - Convertible Notes		8/2/2024		03/08/2028		Consumer Finance			18.00	%			—				13				13				—
ORL Holdco, Inc. - Unfunded Convertible Notes (8)		8/2/2024		03/08/2028		Consumer Finance			—				—				13				—				(13	)
OSP Embedded Purchaser, LP - Convertible Note		11/6/2024		05/08/2030		Aerospace and Defense			12.00	%			—				47				471				539
Schlesinger Global, LLC - Promissory Note		2/21/2024		09/30/2027		Professional Services			12.56	%		3M SOFR+ 860					66				66				136
StoicLane, Inc. - Convertible Notes		8/15/2024		08/16/2027		Healthcare Technology			12.00	%			—				3,051				3,051				3,585
Wash & Wax Systems, LLC - Subordinate Debt		4/30/2025		07/30/2028		Consumer Services			12.00	%			—				4,467				4,467				4,467
Total Subordinate Debt																				$	18,504			$	19,149
Preferred Equity - 2.1% of Net Assets(5)
Accounting Platform Holdings, Inc. - Preferred Equity - Series A		8/9/2024				Professional Services			—				—				1,075,900				1,076				1,076
Ad.Net Holdings, Inc. - Preferred Equity		5/4/2021				Media			—				—				7,453				745				498
AFC Acquisitions, Inc. Preferred Equity - Series F-2 (7)		12/7/2023				Distributors			—				—				825				1,262				1,157
AFC Acquisitions, Inc. Preferred Equity - Series G-2 (7)		12/7/2023				Distributors			—				—				18				31				28
AFC Acquisitions, Inc. Preferred Equity - Series H-2 (7)		12/7/2023				Distributors			—				—				10				20				18
AFC Acquisitions, Inc. Preferred Equity - Series I-2 (7)		12/7/2023				Distributors			—				—				9				19				16
AFC Acquisitions, Inc. Preferred Equity - Series J-2 (7)		12/7/2023				Distributors			—				—				17				34				28
Anteriad Holdings, LP (f/k/a MeritDirect Holdings, LP) - Preferred Equity (6), (7)		5/21/2019				Media			—				—				2,018				2,018				2,199
BioDerm Holdings, LP - Preferred Equity		1/30/2023				Healthcare Equipment and Supplies			—				—				1,313				1,313				1,314
Cartessa Aesthetics, LLC - Preferred Equity (7)		6/1/2022				Distributors			—				—				1,437,500				1,438				4,313
Connatix Parent, LLC		7/8/2021				Media			—				—				5,311				5				7
Consello Pacific Aggregator, LLC - Preferred Equity (7)		10/2/2023				Professional Services			—				—				1,025,476				973				708
C5MI Holdco, LLC - Preferred Equity (7)		7/31/2024				IT Services			—				—				228,900				223				238
EvAL Home Health Solutions, LLC (7)		5/10/2024				Healthcare, Education and Childcare			—				—				876,386				1,455				1,306
Five Star Parent Holdings, LLC - Preferred (Class P)		2/21/2023				Hotels, Restaurants and Leisure			—				—				384				38				107
Gauge Schlesinger Coinvest, LLC - Preferred Equity		4/22/2020				Professional Services			—				—				64				64				24
Hancock Claims Consultants Investors, LLC - Preferred Equity (7)		12/23/2020				Insurance			—				—				116,588				76				—
HPA SPQ Aggregator, LP - Preferred Equity		6/8/2023				Professional Services			—				—				52,353				52				52
Imagine Topco. LP - Preferred Equity		11/4/2021				Software			8.00	%			—				1,236,027				1,236				1,723
Magnolia Topco, LP - Preferred Equity - Class A (7)		7/25/2023				Automobiles			—				—				47				47				6
Magnolia Topco, LP - Preferred Equity - Class A-1 (7)		7/25/2023				Automobiles			—				—				16				16				32
Magnolia Topco, LP - Preferred Equity - Class B (7)		7/25/2023				Automobiles			—				—				31				20				—
Megawatt Acquisition Partners, LLC - Preferred Equity - Class A		6/28/2024				Electronic Equipment, Instruments, and Components			—				—				9,360				936				1,052
NXOF Holdings, Inc. - Preferred Equity		9/25/2018				IT Services			—				—				1,935				1,935				1,415
ORL Holdco, Inc. - Preferred Equity		9/1/2021				Consumer Finance			—				—				1,327				133				—
Pink Lily Holdco, LLC - Preferred Equity - Class A-1 (7)		11/5/2021				Textiles, Apparel and Luxury Goods			—				—				122				122				—
Podean Intermediate II, LLC - Preferred Equity		8/4/2025				Marketing Services			—				—				570				570				582
RTIC Parent Holdings, LLC - Preferred Equity - Class A (7)		5/3/2024				Leisure Products			—				—				9				9				—
RTIC Parent Holdings, LLC - Preferred Equity - Class C (7)		5/3/2024				Leisure Products			—				—				18,450				1,215				2,602
RTIC Parent Holdings, LLC - Preferred Equity - Class D (7)		5/3/2024				Leisure Products			—				—				19,584				196				278
SP L2 Holdings, LLC - Preferred Equity		11/4/2021				Leisure Products			—				—				135,240				33				—
SP L2 Holdings, LLC - Unfunded Preferred Equity (8)		11/4/2021				Leisure Products			—				—				77,280				—				(19	)
TPC Holding Company, LP - Preferred Equity		12/4/2019				Food Products			—				—				409				409				447

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

15

PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES

CONSOLIDATED SCHEDULE OF INVESTMENTS-(Continued)

December 31, 2025

(in thousands, except per share data)

(Unaudited)

Issuer Name		Acquisition		Maturity		Industry		Current Coupon				Basis Point Spread Above Index (1)				Par / Shares				Cost				Fair Value (2)
TWD Parent Holdings, LLC - Preferred Equity		8/25/2021				Construction & Engineering			—				—				41				39				60
UniTek Global Services, Inc. - Super Senior Preferred Equity		1/13/2015				Telecommunications			20.00	%			—				320,711				322				675
UniTek Global Services, Inc. - Senior Preferred Equity		1/13/2015				Telecommunications			19.00	%			—				448,851				449				—
UniTek Global Services, Inc. - Preferred Equity		1/13/2015				Telecommunications			13.50	%			—				1,047,317				670				—
Total Preferred Equity																				$	19,199			$	21,942
Common Equity/Warrants - 15.7% of Net Assets(5)
A1 Garage Equity, LLC - Common Equity (7)		12/19/2022				Commercial Services & Supplies			—				—				647,943				648				1,463
48Forty Intermediate Holdings, Inc. - Common Equity		8/27/2025				Business Services			—				—				529				—				—
ACP Big Top Holdings, LP - Common Equity		2/29/2024				Construction & Engineering			—				—				3,000,500				2,883				5,258
Ad.Net Holdings, Inc. - Common Equity		5/4/2021				Media			—				—				8,281				83				—
Aechelon InvestCo, LP		8/16/2024				Aerospace and Defense			—				—				29,917				2,992				8,204
Aechelon InvestCo, LP - Unfunded Common Equity (8)		8/16/2024				Aerospace and Defense			—				—				33,433				—				—
Aftermarket Drivetrain Products Holdings, LLC - Common Equity		12/29/2023				Auto Components			—				—				2,632				2,632				4,518
AG Investco - Common Equity (6), (7)		11/5/2018				Software			—				—				8,052				805				64
AG Investco - Unfunded Common Equity  (7), (8)		11/5/2018				Software			—				—				1,948				—				(179	)
Altamira Parent Holdings, LLC - Common Equity		7/23/2019				IT Services			—				—				1,437,500				1,438				1,323
Anteriad Holdings, LP (f/k/a MeritDirect Holdings, LP) - Common Equity (7)		5/21/2019				Media			—				—				2,018				—				—
Athletico Holdings, LLC - Common Equity (7)		2/4/2022				Healthcare Providers and Services			—				—				4,678				5,000				3,546
Aphix Topco, Inc. - Common Equity		7/17/2025				Business Services			—				—				819,190				819				786
APT Holdings, LLC - Common Equity (7)		9/29/2025				Healthcare Providers and Services			—				—				855,110				1,152				1,261
Azureon Holdings, LLC (7)		6/26/2024				Diversified Consumer Services			—				—				1,130,707				1,131				825
BioDerm Holdings, LP - Common Equity		1/30/2023				Healthcare Equipment and Supplies			—				—				1,313				—				—
Burgess Point Holdings, LP - Common Equity		7/21/2022				Auto Components			—				—				112				114				121
By Light Investco LP - Common Equity (7)		5/15/2017				High Tech Industries			—				—				22,789				—				13,452
Carisk Parent, LP - Common Equity		11/27/2023				Healthcare Technology			—				—				239,680				240				295
Carnegie HoldCo, LLC (7)		2/7/2024				Professional Services			—				—				2,719,600				2,599				1,958
Connatix Parent, LLC - Common Equity		7/8/2021				Media			—				—				182,141				421				186
Crane 1 Acquisition Parent Holdings, LP - Common Equity		8/11/2021				Commercial Services & Supplies			—				—				130				120				244
C5MI Holdco, LLC - Common Equity (7)		7/31/2024				IT Services			—				—				1,659,050				1,659				2,306
Delta InvestCo, LP - Common Equity  (7)		12/16/2020				IT Services			—				—				804,615				763				1,712
Delta InvestCo, LP - Unfunded Common Equity (7), (8)		12/16/2020				IT Services			—				—				200,255				—				—
Duggal Equity, LP - Common Equity		9/30/2024				Marketing Services			—				—				686				686				640
EDS Topco, LP - Common Equity		12/19/2022				Electronic Equipment, Instruments, and Components			—				—				1,125,000				1,125				2,193
Events TopCo, LP - Common Equity		12/17/2024				Event Services			—				—				1,016,800				1,017				1,219
Exigo, LLC - Common Equity		3/10/2022				Software			—				—				541,667				542				226
FedHC InvestCo, LP - Common Equity (7)		8/26/2021				Aerospace and Defense			—				—				22,671				810				3,137
FedHC InvestCo, LP - Unfunded Common Equity (7), (8)		8/26/2021				Aerospace and Defense			—				—				3,665				—				—
First Medical Holdings, LLC - Common Equity (7)		6/13/2025				Healthcare Providers and Services			—				—				75,000				750				770
Five Star Parent Holdings, LLC - Common Equity		2/21/2023				Hotels, Restaurants and Leisure			—				—				655,714				656				—
Gauge ETE Blocker, LLC - Common Equity		5/24/2023				Diversified Consumer Services			—				—				374,444				374				375
Gauge Lash Coinvest, LLC - Common Equity		12/4/2019				Personal Products			—				—				2,057,387				1,588				3,144
Gauge Loving Tan, LP - Common Equity		5/25/2023				Personal Products			—				—				2,914,701				2,915				3,460
Gauge Schlesinger Coinvest, LLC - Common Equity		4/22/2020				Professional Services			—				—				465				476				176
GCP Boss Holdco, LLC		12/27/2024				Independent Power and Renewable Electricity Producers			—				—				2,194,800				2,195				3,292
GCOM InvestCo, LP - Common Equity		6/22/2021				IT Services			—				—				19,184				3,342				5,122
GGG Topco, LLC (7)		9/27/2024				Diversified Consumer Services			—				—				2,759,800				2,760				3,664
GMP Hills, LP - Common Equity		11/2/2023				Distributors			—				—				4,430,843				4,431				5,627
Hancock Claims Consultants Investors, LLC - Common Equity (7)		12/23/2020				Insurance			—				—				450,000				448				—
HPA SPQ Aggregator, LP - Common Equity		6/8/2023				Professional Services			—				—				750,399				750				19
HV Watterson Holdings, LLC - Common Equity		6/13/2022				Professional Services			—				—				100,000				100				—
Icon Partners V C, LP - Common Equity		12/20/2021				Internet Software and Services			—				—				2,002,138				2,002				1,490
Icon Partners V C, LP - Unfunded Common Equity (8)		12/20/2021				Internet Software and Services			—				—				497,862				—				(127	)
Imagine Topco. LP - Common Equity		11/4/2021				Software			—				—				1,236,027				—				86
IHS Parent Holdings, LP - Common Equity		12/21/2022				Commercial Services & Supplies			—				—				1,218,045				1,218				1,608
Ironclad Holdco, LLC - Common Equity		12/23/2020				Commercial Services & Supplies			—				—				6,355				668				1,658
ITC Infusion Co-invest, LP - Common Equity (7)		2/16/2022				Healthcare Equipment and Supplies			—				—				116,032				1,229				2,992
Kinetic Purchaser, LLC - Common Equity - Class A		11/8/2021				Personal Products			—				—				1,734,775				1,735				—
Kinetic Purchaser, LLC - Common Equity - Class AA		11/8/2021				Personal Products			—				—				153,339				179				—
KL Stockton Co-Invest, LP - Common Equity (7)		7/16/2021				Energy Equipment and Services			—				—				382,353				386				538
Lightspeed Investment Holdco, LLC - Common Equity (6)		1/21/2020				Healthcare Technology			—				—				585,587				586				2,466
LJ Avalon, LP - Common Equity		1/18/2023				Construction & Engineering			—				—				1,638,043				1,638				2,752
Marketplace Events Acquisition, LLC - Common Equity		12/19/2024				Media: Diversified and Production			—				—				40,990				4,099				5,319
Magnolia Topco, LP - Common Equity - Class A (7)		7/25/2023				Automobiles			—				—				46,974				—				—
Magnolia Topco, LP - Common Equity - Class B (7)		7/25/2023				Automobiles			—				—				30,926				—				—
MDI Aggregator, LP - Common Equity		7/19/2022				Commodity Chemicals			—				—				11,078				1,122				1,084
Meadowlark Title, LLC - Common Equity (7)		12/9/2021				Professional Services			—				—				819,231				806				328
Megawatt Acquisition Partners, LLC - Common Equity - Class A		6/28/2024				Electronic Equipment, Instruments, and Components			—				—				1,040				104				—

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

16

PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES

CONSOLIDATED SCHEDULE OF INVESTMENTS-(Continued)

December 31, 2025

(in thousands, except per share data)

(Unaudited)

Issuer Name		Acquisition		Maturity		Industry		Current Coupon				Basis Point Spread Above Index (1)				Par / Shares				Cost				Fair Value (2)
Municipal Emergency Services, Inc. - Common Equity		9/28/2021				Distributors			—				—				1,973,370				2,005				4,539
NEPRT Parent Holdings, LLC - Common Equity (7)		1/27/2021				Leisure Products			—				—				1,494				1,438				390
New Insight Holdings, Inc. (6)		7/15/2024				Business Services			—				—				203,819				3,565				2,322
New Medina Health, LLC - Common Equity (7)		10/16/2023				Healthcare Providers and Services			—				—				2,672,646				2,673				5,263
NFS - CFP Holdings LLC - Common Equity		9/13/2024				Commercial Services & Supplies			—				—				1,337,017				1,337				2,033
NORA Parent Holdings, LLC - Common Equity (7)		8/22/2023				Healthcare Providers and Services			—				—				2,544				2,525				593
North Haven Saints Equity Holdings, LP - Common Equity (7)		2/25/2022				Healthcare Technology			—				—				223,602				224				264
NXOF Holdings, Inc. - Common Equity		9/25/2018				IT Services			—				—				37,561				496				—
OceanSound Discovery Equity, LP - Common Equity  (7)		3/28/2024				Aerospace and Defense			—				—				211,940				2,119				2,855
OES Co-Invest, LP - Common Equity - Class A		5/31/2024				Diversified Consumer Services			—				—				1,560				1,580				1,888
OHCP V BC COI, LP - Common Equity		12/13/2021				Distributors			—				—				1,178,682				1,179				731
OHCP V BC COI, LP - Unfunded Common Equity (8)		12/13/2021				Distributors			—				—				71,318				—				(27	)
ORL Holdco, Inc. - Common Equity		9/1/2021				Consumer Finance			—				—				1,474				15				—
OSP Embedded Aggregator, LP - Common Equity		12/11/2023				Aerospace and Defense			—				—				1,728				1,728				1,978
Output Services Group, Inc. - Common Equity (6)		11/30/2023				Business Services			—				—				127,369				1,155				815
OSP PAR Aggregator, LP - Common Equity		9/3/2024				Healthcare Technology			—				—				3,160				3,171				2,741
Paving Parent, LLC - Common Equity (7)		7/1/2025				Business Services			—				—				3,057				3,057				3,434
Penta Group Holdings, Inc. - Common Equity		7/31/2025				Professional Services			—				—				1,901,412				1,901				1,844
PCS Parent, LP		3/1/2024				Professional Services			—				—				423,247				423				466
Pink Lily Holdco, LLC - Common Equity (7)		6/16/2017				Textiles, Apparel and Luxury Goods			—				—				1,735				1,735				—
Podean Intermediate II, LLC - Common Equity		11/18/2025				Marketing Services			—				—				570				—				—
Pragmatic Holdco, Inc. - Common Equity		11/5/2021				Professional Services			—				—				18				—				—
Project Granite Holdings, LLC		8/4/2025				Professional Services			—				—				1,139				1,139				1,210
Quad (U.S.) Co-Invest, LP - Common Equity		3/28/2025				Professional Services			—				—				235,194				235				375
QuantiTech InvestCo, LP - Common Equity (7)		12/31/2024				Aerospace and Defense			—				—				700				—				97
QuantiTech InvestCo, LP - Unfunded Common Equity (7) (8)		10/3/2022				Aerospace and Defense			—				—				955				—				—
QuantiTech InvestCo II, LP - Common Equity (7)		5/1/2020				Aerospace and Defense			—				—				40				12				7
RFMG Parent, LP - Common Equity		5/1/2020				Healthcare Equipment and Supplies			—				—				1,050,000				1,050				1,230
Ro Health Holdings, Inc. - Common Equity		5/1/2020				Healthcare Providers and Services			—				—				536,400				536				750
Rosco Topco, LLC - Common Equity		12/16/2020				Business Services			—				—				1,517,241				1,517				1,502
Safe Haven Defense Holdco, LLC - Common Equity (7)		1/16/2025				Building Products			—				—				641				641				4
SBI Holdings Investments, LLC - Common Equity		9/9/2025				Professional Services			—				—				64,634				646				501
Sabel InvestCo, LP. - Common Equity (7)		5/23/2024				Government Services			—				—				89,712				2,271				2,746
Sabel InvestCo, LP. - Unfunded Common Equity (7), (8)		12/23/2019				Government Services			—				—				131,286				—				—
Seaway Topco, LP - Common Equity		10/31/2024				Chemicals, Plastics and Rubber			—				—				296				296				89
Seacoast Service Partners, LLC - Common Equity		10/31/2024				Diversified Consumer Services			—				—				429				549				404
SP L2 Holdings, LLC - Common Equity		6/8/2022				Leisure Products			—				—				52,821,386				374				—
SP DXE Holdings, LLC - Common Equity (7)		12/20/2024				Electronic Equipment, Instruments, and Components			—				—				553,592				554				581
SSC Dominion Holdings, LLC - Common Equity - Class B (US Dominion, Inc.) (6)		11/4/2021				Capital Equipment			—				—				12				—				807
StellPen Holdings, LLC (CF512, Inc.) - Common Equity		10/1/2025				Media			—				—				161,538				162				118
SV-Aero Holdings, LLC - Common Equity (7)		7/11/2018				Aerospace and Defense			—				—				61				489				1,460
TAC Lifeport Holdings, LLC - Common Equity (7)		8/17/2021				Aerospace and Defense			—				—				533,833				502				1,036
TCG 3.0 Jogger Co-Invest, LP - Common Equity		12/6/2023				Media			—				—				9,108				1,760				1,023
Tower Arch Infolinks Media, LP - Common Equity (7)		2/24/2021				Media			—				—				224,698				—				142
Tower Arch Infolinks Media, LP - Unfunded Common Equity (7) (8)		1/22/2024				Media			—				—				140,908				—				(52	)
TPC Holding Company, LP - Common Equity		10/27/2021				Food Products			—				—				21,527				22				—
TWD Parent Holdings, LLC - Common Equity		10/27/2021				Construction & Engineering			—				—				824				4				16
Tinicum Space Coast Co-Invest, LLC (7)		12/4/2019				Aerospace and Defense			—				—				466				4,594				4,923
UniTek Global Services, Inc. - Common Equity		8/25/2021				Telecommunications			—				—				213,739				—				—
UniVista Insurance - Common Equity (7)		10/29/2024				Insurance			—				—				400				—				113
Wash & Wax Group, LP - Common Equity (7)		1/13/2015				Consumer Services			—				—				2,747				4,941				3,435
Watchtower Holdings, LLC - Common Equity (7)		6/14/2021				Electronic Equipment, Instruments, and Components			—				—				12,419				1,242				1,404
WCP Ivyrehab Coinvestment, LP - Common Equity - Incremental (7)		4/30/2025				Healthcare Providers and Services			—				—				208				208				293
WCP Ivyrehab Coinvestment, LP - Common Equity (7)		11/29/2023				Healthcare Providers and Services			—				—				3,754				3,853				5,299
WCP Ivyrehab Coinvestment, LP - Unfunded Common Equity (7) (8)		6/27/2022				Healthcare Providers and Services			—				—				246				—				—
White Tiger Newco, LLC - Common Equity (6)		6/27/2022				Capital Equipment			—				—				38,019				2,899				280
Unitek Global Services, Inc. - Warrants		6/27/2022				Telecommunications			—				—				23,889				—				—
Kentucky Racing Holdco, LLC - Warrants (7)		7/31/2025				Hotels, Restaurants and Leisure			—				—				87,345				—				949
Total Common Equity/Warrants																				$	129,058			$	163,472
Total Investments in Non-Controlled, Non-Affiliated Portfolio Companies																				$	2,226,700			$	2,238,775
Investments in Controlled, Affiliated Portfolio Companies - 35.2% of Net Assets (3), (4)
First Lien Secured Debt - 22.8% of Net Assets
PennantPark Senior Secured Loan Fund I, LLC (6), (9)		8/10/2020		05/07/2029		Financial Services			11.88	%		3M SOFR+ 800					237,650				237,650				237,650
PennantPark Senior Secured Loan Fund II, LLC (6), (9)		11/18/2025		08/08/2032		Financial Services			11.89	%		3M SOFR+ 800					39,375				39,375				39,375
Total First Lien Secured Debt																				$	277,025			$	277,025
Equity Interests - 8.6% of Net Assets

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

17

PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES

CONSOLIDATED SCHEDULE OF INVESTMENTS-(Continued)

December 31, 2025

(in thousands, except per share data)

(Unaudited)

Issuer Name		Acquisition		Maturity		Industry		Current Coupon				Basis Point Spread Above Index (1)				Par / Shares				Cost				Fair Value (2)
PennantPark Senior Secured Loan Fund I LLC - Common Equity (6), (9)		8/10/2020				Financial Services			—				—				163,100				163,100				72,690
PennantPark Senior Secured Loan Fund II LLC - Common Equity (6), (9)		11/18/2025				Financial Services			—				—				16,875				16,875				16,857
Total Equity Interests																				$	179,975			$	89,547
Total Investments in Controlled, Affiliated Portfolio Companies																					457,000				366,572
Total Investments - 250.4% of Net Assets (11), (12)																				$	2,683,700			$	2,605,347
Cash Equivalents - 3.9% of Net Assets
BlackRock Federal FD Institutional 30 (Money Market Fund)									3.69	%										$	7,722			$	7,722
Blackrock Liq Fedfund Gov CL Inst (Money Market Fund)									3.64	%											15,536				15,536
JPMorgan US Dollar Liquidity Inst (Money Market Fund)									3.81	%											4,129				4,129
JPMorgan U.S. Government (Money Market Fund)									3.61	%											3,948				3,948
Goldman Sachs Financial Square Government Fund (Money Market Fund)									3.71	%											8,808				8,808
Total Cash Equivalents																					40,143				40,143
Cash - 5.3% of Net Assets
Cash																				$	55,121			$	55,125
Total Cash																				$	55,121			$	55,125
Total Investments, Cash Equivalents, and Cash - 259.6% of Net Assets																				$	2,778,964			$	2,700,615
Liabilities in Excess of Other Assets - (159.6)% of Net Assets																									(1,660,186	)
Net Assets - 100%																								$	1,040,429

—————

(1)Represents floating rate instruments that accrue interest at a predetermined spread relative to an index, typically the applicable Secured Overnight Financing Rate, or “SOFR”, or Prime rate, or “P", or Sterling Overnight Index Average, or “SONIA.” The spread may change based on the type of rate used. The terms in the Consolidated Schedule of Investments disclose the actual interest rate in effect as of the reporting period. SOFR loans are typically indexed to a 30-day, 90-day or 180-day SOFR rates (1M S, 3M S, or 6M S, respectively) at the borrower’s option. SONIA loans are typically indexed daily for GBP loans with a quarterly frequency payment. All securities are subject to a SOFR or Prime rate floor where a spread is provided, unless noted. The spread provided includes payment-in-kind, or "PIK", interest and other fee rates, if any.

(2)Valued based on our accounting policy (See Note 2). The value of all securities was determined using significant unobservable inputs (See Note 5).

(3)The provisions of the 1940 Act classify investments based on the level of control that we maintain in a particular portfolio company. As defined in the 1940 Act, a company is generally presumed to be “non-controlled” when we own 25% or less of the portfolio company’s voting securities and “controlled” when we own more than 25% of the portfolio company’s voting securities.

(4)The provisions of the 1940 Act classify investments further based on the level of ownership that we maintain in a particular portfolio company. As defined in the 1940 Act, a company is generally deemed as “non-affiliated” when we own less than 5% of a portfolio company’s voting securities and “affiliated” when we own 5% or more of a portfolio company’s voting securities.

(5)Non-income producing securities.

(6)The securities, or a portion thereof, 1) are not pledged as collateral under the Credit Facility and held through Funding I; 2) do not secure the 2036-R Asset-Backed Debt and are not held through PennantPark CLO I, Ltd; 3) do not secure the 2036 Asset-Backed Debt and are not held through PennantPark CLO VIII, Ltd. and 4) do not secure the 2037 Asset-Backed Debt and are not held through PennantPark CLO 11, LLC.

(7)Investment is held through our Taxable Subsidiary.

(8)Represents the purchase of a security with delayed settlement or a revolving line of credit that is currently an unfunded investment. This security does not earn a basis point spread above an index while it is unfunded.

(9)The investment is treated as a non-qualifying asset under Section 55(a) of the 1940 Act. Under the 1940 Act, we may not acquire any non-qualifying asset unless, at the time the acquisition is made, qualifying assets represent at least 70% of our total assets. As of December 31, 2025, qualifying assets represented 87% of our total assets and non-qualifying assets represented 13% of our total assets.

(10)Non-accrual security.

(11)As of December 31, 2025, all investments were in U.S. companies and total cost, fair value, and percentage of Net Assets for the U.S companies were $2,683.7 million, $2,605.3 million, and 250.4%

(12)All of our investments are not registered under the 1933 Act and have restrictions on resale.

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

18

PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES

CONSOLIDATED SCHEDULE OF INVESTMENTS

September 30, 2025

(in thousands, except per share data)

Issuer Name		Acquisition		Maturity		Industry		Current Coupon				Basis Point Spread Above Index (1)				Par / Shares				Cost				Fair Value (2)
Investments in Non-Controlled, Non-Affiliated Portfolio Companies - 231.9% (3), (4)
First Lien Secured Debt - 211.8% of Net Assets
ACP Avenu Buyer, LLC		10/2/2023		10/02/2029		IT Services			9.29	%		3M SOFR+ 500					42,247				41,879				41,824
ACP Avenu Buyer, LLC - Unfunded Term Loan (8)		10/2/2023		04/21/2027		IT Services			—				—				10,872				—				(54	)
ACP Avenu Buyer, LLC - Unfunded Revolver (6), (8)		10/2/2023		10/02/2029		IT Services			—				—				7,612				—				(76	)
ACP Falcon Buyer, Inc.		8/27/2025		08/01/2029		Professional Services			9.79	%		3M SOFR+ 550					818				827				827
ACP Falcon Buyer, LLC - Unfunded Revolver (6), (8)		7/26/2023		08/01/2029		Professional Services			—				—				3,096				—				—
Ad.net Acquisition, LLC		5/4/2021		05/07/2026		Media			10.26	%		3M SOFR+ 626					6,583				6,570				6,583
Ad.net Acquisition, LLC - Funded Revolver		5/4/2021		05/07/2026		Media			10.26	%		3M SOFR+ 626					818				818				818
Ad.net Acquisition, LLC - Unfunded Revolver (6), (8)		5/4/2021		05/07/2026		Media			—				—				426				—				—
Aechelon Technology, Inc.		8/16/2024		08/16/2029		Aerospace and Defense			9.91	%		1M SOFR+ 575					13,440				13,331				13,440
Aechelon Technology, Inc. - Funded Revolver		8/16/2024		08/16/2029		Aerospace and Defense			10.66	%		1M SOFR+ 650					1,666				1,666				1,666
Aechelon Technology, Inc. - Unfunded Revolver (8)		8/16/2024		08/16/2029		Aerospace and Defense			—				—				3,054				—				—
AFC-Dell Holding Corp.		2/22/2024		04/09/2027		Distributors			9.70	%		3M SOFR+ 550					19,768				19,739				19,669
AFC-Dell Holding Corp. - Unfunded Term Loan (8)		2/22/2024		04/09/2027		Distributors			—				—				7,460				—				(37	)
Alpine Acquisition Corp II (10)		8/27/2025		08/09/2025		Containers and Packaging			—				—				4,044				2,903				2,103
Amsive Holdings Corporation		3/2/2020		12/10/2026		Media			10.35	%		3M SOFR+ 625					19,273				19,166				19,080
Aphix Buyer, Inc.		7/17/2025		07/17/2031		Business Services			8.91	%		3M SOFR+ 475					9,639				9,579				9,591
Aphix Buyer, Inc. - Unfunded Term Loan (8)		7/17/2025		07/16/2027		Business Services			—				—				15,341				—				19
Aphix Buyer, Inc. - Unfunded Revolver (8)		7/17/2025		07/17/2031		Business Services			—				—				3,995				—				(20	)
APT OPCO, LLC		9/29/2025		09/30/2031		Healthcare Providers and Services			9.00	%		3M SOFR+ 500					17,500				17,391				17,391
APT OPCO, LLC - Unfunded Term Loan (8)		9/29/2025		09/30/2027		Healthcare Providers and Services			—				—				2,729				—				—
APT OPCO, LLC - Unfunded Revolver (8)		9/29/2025		09/30/2031		Healthcare Providers and Services			—				—				2,729				—				—
Anteriad, LLC (f/k/a MeritDirect, LLC)		5/21/2019		06/30/2026		Media			9.90	%		3M SOFR+ 590					14,707				14,644				14,707
Anteriad, LLC (f/k/a MeritDirect, LLC) - Incremental Term Loan		5/21/2019		06/30/2026		Media			9.90	%		3M SOFR+ 590					1,985				1,979				1,985
Anteriad, LLC (f/k/a MeritDirect, LLC) - Funded Revolver (6)		5/21/2019		06/30/2026		Media			9.90	%		3M SOFR+ 590					410				410				410
Anteriad, LLC (f/k/a MeritDirect, LLC) - Unfunded Revolver (8)		5/21/2019		06/30/2026		Media			—				—				2,460				—				—
Arcfield Acquisition Corp.		10/28/2024		10/28/2031		Aerospace and Defense			9.31	%		3M SOFR+ 500					19,393				19,374				19,296
Arcfield Acquisition Corp. - Unfunded Revolver (6), (8)		10/28/2024		10/28/2031		Aerospace and Defense			—				—				2,874				—				(14	)
Archer Lewis, LLC		8/28/2024		08/28/2029		Healthcare Technology			9.75	%		3M SOFR+ 575					32,675				32,401				32,675
Archer Lewis, LLC - Unfunded Term Loan (8)		8/28/2024		08/28/2026		Healthcare Technology			—				—				13,292				—				133
Archer Lewis, LLC - Unfunded Revolver (8)		8/28/2024		08/28/2029		Healthcare Technology			—				—				3,252				—				—
Argano, LLC		9/13/2024		09/13/2029		Business Services			9.89	%		3M SOFR+ 575					50,851				50,401				50,088
Argano, LLC - Unfunded Term Loan (8)		9/13/2024		10/02/2026		Business Services			—								7,449				—				(37	)
Argano, LLC – Unfunded Revolver (8)		9/13/2024		09/13/2029		Business Services			—				—				1,421				—				(21	)
Azureon, LLC (F/K/A Tpcn Midco, LLC)		6/26/2024		06/26/2029		Diversified Consumer Services			9.75	%		3M SOFR+ 575					16,854				16,673				16,365
Azureon, LLC (F/K/A Tpcn Midco, LLC) - Funded Revolver		6/26/2024		06/26/2029		Diversified Consumer Services			9.75	%		3M SOFR+ 575					1,032				1,032				1,002
Azureon, LLC (F/K/A Tpcn Midco, LLC) - Unfunded Revolver (8)		6/26/2024		06/26/2029		Diversified Consumer Services			—				—				1,548				—				(45	)
Beacon Behavioral Support Services, LLC		6/21/2024		06/21/2029		Healthcare Providers and Services			9.50	%		3M SOFR+ 550					31,929				31,585				31,929
Beacon Behavioral Support Services, LLC - Unfunded Term Loan (8)		6/21/2024		12/22/2025		Healthcare Providers and Services			—				—				7,749				—				77
Beacon Behavioral Support Services, LLC - Unfunded Term Loan - 3rd Amendment (8)		6/21/2024		06/21/2027		Healthcare Providers and Services			—				—				23,451				—				235
Beacon Behavioral Support Services, LLC - Unfunded Revolver (8)		6/21/2024		06/21/2029		Healthcare Providers and Services			—				—				2,104				—				—
Best Practice Associates, LLC		11/7/2024		11/08/2029		Aerospace and Defense			10.91	%		3M SOFR+ 675					58,796				58,047				58,355
Best Practice Associates, LLC - Unfunded Revolver (8)		11/7/2024		11/08/2029		Aerospace and Defense			—				—				5,732				—				(43	)
Beta Plus Technologies, Inc.		2/29/2024		07/02/2029		Internet Software and Services			9.75	%		1M SOFR+ 575					32,742				32,027				32,415
Big Top Holdings, LLC		2/29/2024		03/01/2030		Construction & Engineering			9.50	%		3M SOFR+ 550					34,812				34,384				34,812
Big Top Holdings, LLC - Unfunded Revolver (8)		2/29/2024		02/28/2030		Construction & Engineering			—				—				4,479				—				—
Bioderm, Inc.		8/27/2025		01/31/2028		Healthcare Equipment and Supplies			10.77	%		1M SOFR+ 650					992				981				980
Bioderm, Inc. - Funded Revolver		1/30/2023		01/31/2028		Healthcare Equipment and Supplies			10.77	%		1M SOFR+ 650					1,071				1,071				1,058
Blackhawk Industrial Distribution, Inc.		6/27/2022		09/17/2026		Distributors			9.40	%		3M SOFR+ 540					8,126				8,095				7,984
Blackhawk Industrial Distribution, Inc. - Funded Revolver (6)		6/27/2022		09/17/2026		Distributors			9.40	%		3M SOFR+ 540					1,747				1,747				1,717
Blackhawk Industrial Distribution, Inc. - Unfunded Revolver (8)		6/27/2022		09/17/2026		Distributors			—				—				2,135				—				(37	)
BLC Holding Company, Inc.		11/20/2024		11/20/2030		Business Services			8.50	%		3M SOFR+ 450					23,155				23,007				23,155
BLC Holding Company, Inc. - Unfunded Term Loan (8)		11/20/2024		11/20/2026		Business Services			—				—				10,994				—				82
BLC Holding Company, Inc. - Funded Revolver		11/20/2024		11/20/2030		Business Services			8.50	%		3M SOFR+ 450					484				484				484
BLC Holding Company, Inc. - Unfunded Revolver (8)		11/20/2024		11/20/2030		Business Services			—				—				3,914				—				—
Blue Cloud Pediatric Surgery Centers LLC		8/12/2025		01/21/2031		Healthcare Providers and Services			9.48	%		3M SOFR+ 525					4,988				4,938				4,938
Blue Cloud Pediatric Surgery Centers LLC - Unfunded Term Loan (8)		8/12/2025		07/30/2027		Healthcare Providers and Services			—				—				5,517				—				—
Boss Industries, LLC		12/27/2024		12/27/2030		Independent Power and Renewable Electricity Producers			9.00	%		3M SOFR+ 500					17,952				17,833				17,952
Boss Industries, LLC - Unfunded Revolver (8)		12/27/2024		12/27/2030		Independent Power and Renewable Electricity Producers			—				—				2,744				—				—
Burgess Point Purchaser Corporation		8/12/2024		07/25/2029		Auto Components			9.51	%		3M SOFR+ 535					18,722				17,573				16,184
By Light Professional IT Services, LLC		7/15/2025		07/15/2031		High Tech Industries			9.66	%		1M SOFR+ 550					41,446				41,135				41,135
By Light Professional IT Services, LLC - Unfunded Revolver (6), (8)		7/15/2025		07/15/2031		High Tech Industries			—				—				3,671				—				(28	)
Capital Construction, LLC		6/30/2025		10/22/2026		Consumer Services			10.20	%			—				8,000				7,950				7,920
Capital Construction, LLC - Unfunded Term Loan (8)		6/30/2025		12/30/2025		Consumer Services			—				—				14,459				—				(36	)
Carisk Buyer, Inc.		11/27/2023		12/03/2029		Healthcare Technology			9.00	%		3M SOFR+ 500					11,309				11,234				11,309
Carisk Buyer, Inc. - Unfunded Term Loan (8)		11/27/2023		12/03/2029		Healthcare Technology			—				—				7,868				—				71
Carisk Buyer, Inc. - Unfunded Revolver (6), (8)		11/27/2023		12/03/2029		Healthcare Technology			—				—				1,750				—				—
Carnegie Dartlet, LLC		2/7/2024		02/07/2030		Professional Services			9.66	%		3M SOFR+ 550					33,807				33,385				33,469
Carnegie Dartlet, LLC - Unfunded Term Loan (8)		2/7/2024		02/09/2026		Professional Services			—				—				12,430				—				—
Carnegie Dartlet, LLC - Unfunded Revolver (8)		2/7/2024		02/07/2030		Professional Services			—				—				5,405				—				(54	)
Cartessa Aesthetics, LLC		6/1/2022		06/14/2028		Distributors			10.00	%		3M SOFR+ 600					15,721				15,614				15,721
Cartessa Aesthetics, LLC - Funded Revolver (6)		6/1/2022		06/14/2028		Distributors			10.00	%		3M SOFR+ 600					511				511				511
Cartessa Aesthetics, LLC - Unfunded Revolver (6), (8)		6/1/2022		06/14/2028		Distributors			—				—				927				—				—
Case Works, LLC		10/1/2024		10/01/2029		Professional Services			9.25	%		3M SOFR+ 525					20,486				20,336				19,564
Case Works, LLC - Funded Revolver		10/1/2024		10/01/2029		Professional Services			9.25	%		3M SOFR+ 525					3,903				3,903				3,727
Case Works, LLC - Unfunded Revolver (8)		10/1/2024		10/01/2029		Professional Services			—				—				205				—				(9	)
Cf512, Inc.		8/17/2021		08/20/2026		Media			10.19	%		3M SOFR+ 619					10,300				10,240				10,197
Cf512, Inc. - Funded Revolver		8/17/2021		08/20/2026		Media			10.18	%		3M SOFR+ 602					86				86				85
Cf512, Inc. - Unfunded Revolver (6), (8)		8/17/2021		08/20/2026		Media			—				—				869				—				(9	)
CJX Borrower, LLC		7/8/2021		07/13/2027		Media			10.08	%		3M SOFR+ 576					8,201				8,135				8,201

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

19

PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES

CONSOLIDATED SCHEDULE OF INVESTMENTS-(Continued)

September 30, 2025

(in thousands, except per share data)

Issuer Name		Acquisition		Maturity		Industry		Current Coupon				Basis Point Spread Above Index (1)				Par / Shares				Cost				Fair Value (2)
CJX Borrower, LLC - Unfunded Term Loan (8)		7/8/2021		07/13/2027		Media			—				—				446				—				82
CJX Borrower, LLC - Funded Revolver		7/8/2021		07/13/2027		Media			10.07	%		3M SOFR+ 576					593				593				593
CJX Borrower, LLC - Unfunded Revolver (8)		7/8/2021		07/13/2027		Media			—				—				642				—				—
Coolsys, Inc.		8/27/2025		08/11/2028		Commercial Services & Supplies			9.34	%		3M SOFR+ 501					2,251				1,920				1,984
Commercial Fire Protection Holdings, LLC		9/23/2024		09/23/2030		Commercial Services & Supplies			8.50	%		3M SOFR+ 450					38,329				38,070				38,329
Commercial Fire Protection Holdings, LLC - Unfunded Term Loan (8)		9/23/2024		09/23/2026		Commercial Services & Supplies			—				—				13,370				—				100
Commercial Fire Protection Holdings, LLC - Unfunded Revolver (8)		9/23/2024		09/23/2030		Commercial Services & Supplies			—				—				5,014				—				—
Compex Legal Services, Inc.		1/27/2020		02/07/2026		Professional Services			9.55	%		3M SOFR+ 555					10,720				10,716				10,720
Compex Legal Services, Inc. - Funded Revolver		1/27/2020		02/07/2026		Professional Services			9.51	%		3M SOFR+ 555					984				984				984
Compex Legal Services, Inc. - Unfunded Revolver (6), (8)		1/27/2020		02/07/2026		Professional Services			—				—				422				—				—
Confluent Health, LLC		3/25/2024		11/30/2028		Healthcare Providers and Services			8.28	%		1M SOFR+ 400					11,703				11,165				11,391
Cornerstone Advisors of Arizona, LLC		5/13/2025		05/13/2032		Consulting Services			8.75	%		3M SOFR+ 475					12,833				12,769				12,769
Cornerstone Advisors of Arizona, LLC - Unfunded Revolver (8)		5/13/2025		05/13/2032		Consulting Services			—				—				1,705				—				(9	)
Crane 1 Services, Inc.		8/11/2021		08/16/2027		Commercial Services & Supplies			10.03	%		3M SOFR+ 575					6,756				6,703				6,705
Crane 1 Services, Inc. - Unfunded Revolver (6), (8)		8/11/2021		08/16/2027		Commercial Services & Supplies			—				—				502				—				(4	)
C5MI Acquisition, LLC		7/31/2024		07/31/2029		IT Services			10.00	%		3M SOFR+ 600					28,710				28,357				28,710
C5MI Acquisition, LLC - Unfunded Revolver (8)		7/31/2024		07/31/2029		IT Services			—				—				9,093				—				—
DRI Holding Inc.		5/23/2024		12/21/2028		Media			9.51	%		1M SOFR+ 535					13,168				12,931				12,905
DRS Holdings III, Inc.		10/29/2019		11/03/2025		Chemicals, Plastics and Rubber			9.41	%		3M SOFR+ 525					6,714				6,707				6,781
DRS Holdings III, Inc. - Unfunded Revolver (6), (8)		10/29/2019		11/03/2025		Personal Products			—				—				487				—				—
Duggal Acquisition, LLC		9/30/2024		09/30/2030		Marketing Services			8.75	%		3M SOFR+ 475					10,218				10,130				10,218
Duggal Acquisition, LLC - Unfunded Term Loan (8)		9/30/2024		09/30/2026		Marketing Services			—				—				4,470				—				45
Duggal Acquisition, LLC - Unfunded Revolver (8)		9/30/2024		09/30/2030		Marketing Services			—				—				5,605				—				—
Dynata, LLC - First Out Term Loan		7/15/2024		07/17/2028		Business Services			9.46	%		3M SOFR+ 526					2,365				2,261				2,354
Dynata, LLC - Last Out Term Loan		7/15/2024		10/16/2028		Business Services			9.96	%		3M SOFR+ 576					14,672				14,131				11,946
Emergency Care Partners, LLC		10/18/2024		10/18/2027		Healthcare Providers and Services			9.00	%		3M SOFR+ 500					15,484				15,412				15,484
Emergency Care Partners, LLC - Unfunded Term Loan (8)		10/18/2024		10/19/2026		Healthcare Providers and Services			—				—				4,320				—				—
Emergency Care Partners, LLC - Unfunded Revolver (8)		10/18/2024		10/18/2027		Healthcare Providers and Services			—				—				1,810				—				—
EDS Buyer, LLC		12/19/2022		01/10/2029		Electronic Equipment, Instruments, and Components			8.75	%		3M SOFR+ 475					12,545				12,449				12,577
EDS Buyer, LLC. - Unfunded Revolver (6), (8)		12/19/2022		01/10/2029		Electronic Equipment, Instruments, and Components			—				—				2,298				—				6
Efficient Collaborative Retail Marketing Company, LLC		10/23/2018		09/30/2026		Media: Diversified and Production			11.01	%		3M SOFR+ 675					8,357				8,379				6,686
								(PIK 3.75%)
ETE Intermediate II, LLC		5/24/2023		05/29/2029		Diversified Consumer Services			9.16	%		3M SOFR+ 500					2,633				2,623				2,633
ETE Intermediate II, LLC - Funded Revolver		5/24/2023		05/25/2029		Diversified Consumer Services			9.17	%		3M SOFR+ 500					166				166				166
ETE Intermediate II, LLC - Unfunded Revolver (8)		5/24/2023		05/25/2029		Diversified Consumer Services			—				—				2,264				—				—
Eval Home Care Solutions Intermediate, LLC		5/10/2024		05/10/2030		Healthcare, Education and Childcare			9.91	%		1M SOFR+ 575					17,758				17,568				17,758
Eval Home Care Solutions Intermediate, LLC - Unfunded Revolver (8)		5/10/2024		05/10/2030		Healthcare, Education and Childcare			—				—				2,640				—				—
Exigo Intermediate II, LLC		8/27/2025		03/15/2027		Software			10.51	%		1M SOFR+ 635					4,787				4,787				4,787
Exigo Intermediate II, LLC - Unfunded Revolver (8)		3/10/2022		03/15/2027		Software			—				—				689				—				—
Express Wash Acquisition Company, LLC		4/10/2025		04/10/2031		Automobiles			10.58	%		3M SOFR+ 625					35,023				34,852				34,183
Express Wash Acquisition Company, LLC - Unfunded Revolver (8)		4/10/2025		04/10/2031		Automobiles			—				—				2,139				—				(51	)
First Medical MSO, LLC		6/13/2025		06/13/2031		Healthcare Providers and Services			9.75	%			—				7,481				7,408				7,406
First Medical MSO, LLC - Unfunded Term Loan (8)		6/13/2025		06/13/2027		Healthcare Providers and Services			—				—				5,000				—				—
First Medical MSO, LLC - Unfunded Revolver (6) (8)		6/13/2025		06/13/2031		Healthcare Providers and Services			—				—				1,000				—				(10	)
Five Star Buyer, Inc.		2/21/2023		02/23/2028		Hotels, Restaurants and Leisure			11.46	%		3M SOFR+ 715					5,214				5,155				5,110
								(PIK 1.00%)
Five Star Buyer, Inc. - Unfunded Revolver (8)		2/21/2023		02/23/2028		Hotels, Restaurants and Leisure			—				—				370				—				(7	)
Gauge ETE Blocker, LLC		5/24/2023		05/21/2029		Diversified Consumer Services			12.56	%			—				285				285				285
GGG Midco, LLC		9/27/2024		09/27/2030		Diversified Consumer Services			9.00	%		3M SOFR+ 500					36,984				36,653				36,984
GGG Midco, LLC - Unfunded Term Loan (8)		9/27/2024		09/27/2026		Diversified Consumer Services			—				—				5,830				—				58
GGG Midco, LLC – Unfunded Revolver (8)		9/27/2024		09/27/2030		Diversified Consumer Services			—				—				1,311				—				—
Global Holdings InterCo, LLC		3/11/2021		03/16/2026		Diversified Financial Services			9.74	%		1M SOFR+ 560					9,134				8,967				9,134
Graffiti Buyer, Inc.		8/9/2021		08/10/2027		Trading Companies & Distributors			9.66	%		3M SOFR+ 560					5,518				5,431				5,407
Graffiti Buyer, Inc. - Unfunded Term Loan (8)		8/9/2021		08/10/2027		Trading Companies & Distributors			—				—				984				—				(12	)
Graffiti Buyer, Inc. - Funded Revolver		8/9/2021		08/10/2027		Trading Companies & Distributors			9.85	%			—				36				36				35
Graffiti Buyer, Inc. - Unfunded Revolver (6), (8)		8/9/2021		08/10/2027		Trading Companies & Distributors			—				—				829				—				(17	)
Hancock Roofing and Construction, LLC		12/23/2020		12/31/2026		Insurance			9.90	%		3M SOFR+ 560					3,916				3,891				3,877
Hancock Roofing and Construction, LLC - Funded Revolver (6)		12/23/2020		12/31/2026		Insurance			9.76	%		3M SOFR+ 560					750				750				743
Halo Buyer, Inc.		2/7/2025		08/07/2029		Consumer products			10.16	%		1M SOFR+ 600					10,599				10,502				10,599
Halo Buyer, Inc. - Funded Revolver		2/7/2025		08/07/2029		Consumer products			10.16	%		1M SOFR+ 600					522				522				522
Halo Buyer, Inc. - Unfunded Revolver (8)		2/7/2025		08/07/2029		Consumer products			—				—				2,200				—				—
Harris & Co. LLC		8/9/2024		08/09/2030		Professional Services			9.16	%		3M SOFR+ 500					80,066				79,412				79,365
Harris & Co. LLC. - Unfunded Term Loan B (8)		8/9/2024		02/09/2026		Professional Services			—				—				16,832				—				—
Harris & Co. LLC - Unfunded Term Loan C (8)		8/9/2024		08/18/2027		Professional Services			—				—				4,192				—				—
Harris & Co. LLC - Funded Revolver		8/9/2024		08/09/2030		Professional Services			9.16	%		1M SOFR+ 500					1,683				1,683				1,669
Harris & Co. LLC - Unfunded Revolver (8)		8/9/2024		08/09/2030		Professional Services			—				—				7,936				—				(69	)
HEC Purchaser Corp.		6/17/2024		06/17/2029		Healthcare, Education and Childcare			8.87	%		3M SOFR+ 500					17,457				17,326				17,457
Help/Systems Holdings, Inc.		8/27/2025		11/30/2026		Software			8.41	%		3M SOFR+ 410					1,953				1,839				1,839
Hills Distribution, Inc.		11/2/2023		11/08/2029		Distributors			10.32	%		1M SOFR+ 600					18,294				18,121				18,294
Hills Distribution, Inc. - Unfunded Term Loan (8)		11/2/2023		11/07/2025		Distributors			—				—				1,514				—				15
HW Holdco, LLC		1/9/2019		05/11/2026		Media			9.90	%		3M SOFR+ 590					12,283				12,265				12,283
HW Holdco, LLC - Unfunded Revolver (6), (8)		1/9/2019		05/11/2026		Media			—				—				1,452				—				—
IG Investments Holdings, LLC (6)		11/23/2021		09/22/2028		Professional Services			9.31	%		3M SOFR+ 500					9,557				9,477				9,509
IG Investments Holdings, LLC - Unfunded Revolver (6), (8)		11/23/2021		09/22/2028		Professional Services			—				—				722				—				(4	)
Imagine Acquisitionco, Inc. - Unfunded Revolver (8)		11/4/2021		11/16/2027		Software			—				—				1,193				—				—
Impact Advisors, LLC		3/21/2025		03/19/2032		Business Services			8.50	%		3M SOFR+ 450					16,517				16,436				16,517
Impact Advisors, LLC - Unfunded Term Loan (8)		3/21/2025		03/21/2027		Business Services			—				—				9,723				—				49
Impact Advisors, LLC - Unfunded Revolver (8)		3/21/2025		03/19/2032		Business Services			—				—				1,945				—				—
Infinity Home Services Holdco, Inc.		12/21/2022		12/28/2028		Commercial Services & Supplies			10.00	%		3M SOFR+ 600					14,855				14,770				14,825
Infinity Home Services Holdco, Inc. (CAD)		12/21/2022		12/28/2028		Commercial Services & Supplies			10.00	%		3M SOFR+ 600					CAD 1,704				1,231				1,225
Infinity Home Services Holdco, Inc. - Unfunded Term Loan (8)		12/21/2022		10/30/2026		Commercial Services & Supplies			—				—				7,069				—				—
Infinity Home Services Holdco, Inc. - Funded Revolver		12/21/2022		12/28/2028		Commercial Services & Supplies			12.25	%			—				161				161				161

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

20

PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES

CONSOLIDATED SCHEDULE OF INVESTMENTS-(Continued)

September 30, 2025

(in thousands, except per share data)

Issuer Name		Acquisition		Maturity		Industry		Current Coupon				Basis Point Spread Above Index (1)				Par / Shares				Cost				Fair Value (2)
Infinity Home Services Holdco, Inc. - Unfunded Revolver (8)		12/21/2022		12/28/2028		Commercial Services & Supplies			—				—				1,130				—				—
Inovex Information Systems Incorporated		12/17/2024		12/17/2030		Software			9.25	%		3M SOFR+ 525					7,940				7,885				7,940
Inovex Information Systems Incorporated - Unfunded Term Loan (8)		12/17/2024		12/17/2026		Software			—				—				2,800				—				—
Inovex Information Systems Incorporated - Unfunded Revolver (8)		12/17/2024		12/17/2030		Software			—				—				3,499				—				—
Infolinks Media Buyco, LLC		2/22/2024		11/02/2026		Media			9.50	%		3M SOFR+ 550					10,155				10,125				10,104
Inventus Power, Inc.		6/29/2023		01/15/2026		Electronic Equipment, Instruments, and Components			11.78	%		3M SOFR+ 761					4,888				4,880				4,888
Inventus Power, Inc. - Funded Revolver		6/29/2023		01/15/2026		Electronic Equipment, Instruments, and Components			11.76	%		3M SOFR+ 761					403				403				403
Inventus Power, Inc. - Unfunded Revolver (8)		6/29/2023		01/15/2026		Electronic Equipment, Instruments, and Components			—				—				1,325				—				—
Keel Platform, LLC		1/26/2024		01/20/2031		Metals and Mining			8.75	%		3M SOFR+ 475					14,601				14,437				14,455
Keel Platform, LLC - Unfunded Term Loan (8)		1/26/2024		01/20/2031		Metals and Mining			—				—				3,260				—				(8	)
Kinetic Purchaser, LLC		11/8/2021		11/10/2027		Personal Products			10.19	%		3M SOFR+ 615					17,955				17,641				15,262
Kinetic Purchaser, LLC - Funded Revolver		11/8/2021		11/10/2026		Personal Products			10.15	%		3M SOFR+ 615					2,172				2,172				1,846
Kinetic Purchaser, LLC - Unfunded Revolver (6), (8)		11/8/2021		11/10/2026		Personal Products			—				—				1,262				—				(189	)
Lash OpCo, LLC		8/16/2021		02/18/2027		Personal Products			12.16	%		1M SOFR+ 785					16,168				16,026				15,763
								(PIK 5.10%)					—
Lash OpCo, LLC - Funded Revolver (6)		8/16/2021		08/16/2026		Personal Products			12.16	%		1M SOFR+ 785					969				969				945
								(PIK 5.10%)
Lash OpCo, LLC - Unfunded Revolver (6) (8)		8/16/2021		08/16/2026		Personal Products			—				—				2,026				—				(51	)
LAV Gear Holdings, Inc.		7/31/2025		07/31/2029		Capital Equipment			10.10	%			—				9,581				9,592				9,930
								(PIK 3.44%)
LAV Gear Holdings, Inc. - Incremental TL		7/31/2025		07/31/2029		Capital Equipment			10.10	%			—				1,098				1,067				1,353
								(PIK 3.44%)
LAV Gear Holdings, Inc. - Unfunded Revolver (6) (8)		7/31/2025		07/31/2029		Capital Equipment			—				—				703				—				—
Ledge Lounger, Inc.		2/7/2022		11/09/2026		Leisure Products			11.65	%		3M SOFR+ 765					7,605				7,380				5,932
								(PIK 1.00%)
Ledge Lounger, Inc. - Funded Revolver		2/7/2022		11/09/2026		Leisure Products			11.65	%		3M SOFR+ 765					663				663				518
								(PIK 1.00%)
Lightspeed Buyer, Inc.		1/21/2020		02/03/2027		Healthcare Technology			8.75	%		3M SOFR+ 475					22,918				22,824				22,918
Lightspeed Buyer, Inc. - Unfunded Revolver (6), (8)		1/21/2020		02/03/2027		Healthcare Technology			—				—				2,499				—				—
LJ Avalon Holdings, LLC		1/18/2023		02/01/2030		Construction & Engineering			8.67	%		3M SOFR+ 450					11,815				11,770				11,815
LJ Avalon Holdings, LLC - Unfunded Term Loan (8)		1/18/2023		02/08/2027		Construction & Engineering			—				—				4,873				—				24
LJ Avalon Holdings, LLC - Unfunded Revolver (6), (8)		1/18/2023		02/01/2029		Construction & Engineering			—				—				2,883				—				—
Loving Tan Intermediate II, Inc.		5/24/2023		05/31/2028		Personal Products			9.00	%		3M SOFR+ 500					53,637				53,066				53,637
Loving Tan Intermediate II, Inc. - Unfunded Term Loan (8)		5/24/2023		07/12/2026		Personal Products			—				—				10,823				—				108
Loving Tan Intermediate II, Inc. - Funded Revolver		5/24/2023		05/31/2028		Personal Products			9.00	%		3M SOFR+ 500					3,559				3,559				3,559
Loving Tan Intermediate II, Inc. - Unfunded Revolver (8)		5/24/2023		05/31/2028		Personal Products			—				—				1,780				—				—
Lucky Bucks, LLC - First-Out Term Loan		11/2/2023		10/02/2028		Hotels, Restaurants and Leisure			12.01	%		1M SOFR+ 765					256				256				238
Lucky Bucks, LLC - Last-Out Term Loan		11/2/2023		10/02/2029		Hotels, Restaurants and Leisure			12.01	%		1M SOFR+ 765					529				529				426
MAG DS Corp.		9/21/2020		04/01/2027		Aerospace and Defense			9.60	%		3M SOFR+ 560					12,205				11,985				12,155
Marketplace Events Acquisition, LLC		12/19/2024		12/19/2030		Media			9.25	%		3M SOFR+ 525					56,198				55,699				56,198
Marketplace Events Acquisition, LLC - Unfunded Term Loan (8)		12/19/2024		06/19/2026		Media			—				—				8,717				—				87
Marketplace Events Acquisition, LLC - Funded Revolver		12/19/2024		12/19/2030		Media			9.25	%			—				610				610				610
Marketplace Events Acquisition, LLC - Unfunded Revolver (8)		12/19/2024		12/19/2030		Media			—				—				5,486				—				—
MBS Holdings, Inc.		4/7/2025		04/16/2027		Internet Software and Services			9.30	%		3M SOFR+ 510					5,632				5,630				5,632
MBS Holdings, Inc. - Unfunded Revolver (6), (8)		4/14/2021		04/16/2027		Internet Software and Services			—				—				1,157				—				—
MDI Buyer, Inc.		3/16/2023		07/25/2028		Commodity Chemicals			8.75	%		3M SOFR+ 475					5,066				5,021				5,066
MDI Buyer, Inc. - Unfunded Term Loan (8)		3/16/2023		07/25/2028		Commodity Chemicals			—				—				4,416				—				33
MDI Buyer, Inc. - Funded Revolver		7/19/2022		07/25/2028		Commodity Chemicals			11.50	%		3M SOFR+ 375					1,524				1,524				1,524
MDI Buyer, Inc. - Unfunded Revolver (6), (8)		7/19/2022		07/25/2028		Commodity Chemicals			—				—				353				—				—
Meadowlark Acquirer, LLC		12/9/2021		12/10/2027		Professional Services			9.65	%		3M SOFR+ 565					4,344				4,295				4,344
Meadowlark Acquirer, LLC - Funded Revolver		12/9/2021		12/10/2027		Professional Services			9.65	%		3M SOFR+ 565					339				339				339
Meadowlark Acquirer, LLC - Unfunded Revolver (8)		12/9/2021		12/10/2027		Professional Services			—				—				1,354				—				—
Medina Health, LLC		10/16/2023		10/20/2028		Healthcare Providers and Services			10.31	%		3M SOFR+ 625					20,795				20,600				20,899
Medina Health, LLC - Unfunded Revolver (8)		10/16/2023		10/20/2028		Healthcare Providers and Services			—				—				5,187				—				26
Megawatt Acquisitionco, Inc.		3/1/2024		03/01/2030		Electronic Equipment, Instruments, and Components			9.50	%		3M SOFR+ 550					9,850				9,545				9,377
Megawatt Acquisitionco, Inc. - Funded Revolver		3/1/2024		03/01/2030		Electronic Equipment, Instruments, and Components			9.67	%		3M SOFR+ 550					406				406				387
Megawatt Acquisitionco, Inc. - Unfunded Revolver (8)		3/1/2024		03/01/2030		Electronic Equipment, Instruments, and Components			—				—				2,844				—				(137	)
MOREgroup Holdings, Inc.		1/9/2024		01/16/2030		Construction & Engineering			9.31	%		3M SOFR+ 525					32,013				31,653				32,013
MOREgroup Holdings, Inc. - Unfunded Term Loan (8)		1/9/2024		01/16/2026		Construction & Engineering			—				—				11,056				—				111
MOREgroup Holdings, Inc. - Unfunded Revolver (8)		1/9/2024		01/16/2030		Construction & Engineering			—				—				6,634				—				—
Municipal Emergency Services, Inc.		9/23/2021		10/01/2027		Distributors			9.15	%		3M SOFR+ 515					9,998				9,959				9,998
Municipal Emergency Services, Inc. - Unfunded Term Loan (8)		9/23/2021		01/15/2026		Distributors			—				—				1,574				—				8
Municipal Emergency Services, Inc. - Unfunded Revolver (6), (8)		9/23/2021		10/01/2027		Distributors			—				—				947				—				—
NBH Group, LLC		8/29/2025		08/19/2026		Healthcare Equipment and Supplies			10.12	%		1M SOFR+ 585					2,571				2,571				2,571
NBH Group, LLC - Unfunded Revolver (6), (8)		8/16/2021		08/19/2026		Healthcare Equipment and Supplies			—				—				1,677				—				—
NORA Acquisition, LLC		8/22/2023		08/31/2029		Healthcare Providers and Services			10.41	%		3M SOFR+ 635					20,743				20,443				20,588
NORA Acquisition, LLC - Funded Revolver		8/22/2023		08/31/2029		Healthcare Providers and Services			10.35	%		3M SOFR+ 635					2,466				2,466				2,447
NORA Acquisition, LLC - Unfunded Revolver (6), (8)		8/22/2023		08/31/2029		Healthcare Providers and Services			—				—				3,013				—				(23	)
North American Rail Solutions, LLC		8/29/2025		08/29/2031		Manufacturing/Basic Industry			8.75	%		3M SOFR+ 475					55,000				54,725				54,725
North American Rail Solutions, LLC - Unfunded Term Loan (8)		8/29/2025		08/29/2027		Manufacturing/Basic Industry			—				—				4,231				—				—
North American Rail Solutions, LLC - Funded Revolver		8/29/2025		08/29/2031		Manufacturing/Basic Industry			8.75	%		3M SOFR+ 475					1,467				1,467				1,467
North American Rail Solutions, LLC - Unfunded Revolver (8)		8/29/2025		08/29/2031		Manufacturing/Basic Industry			—				—				4,456				—				—
Omnia Exterior Solutions, LLC		12/29/2023		12/31/2029		Diversified Consumer Services			9.25	%		3M SOFR+ 525					23,484				23,315				23,014
Omnia Exterior Solutions, LLC - Unfunded Term Loan (8)		12/29/2023		09/30/2026		Diversified Consumer Services			—				—				8,705				—				(98	)
Omnia Exterior Solutions, LLC - Funded Revolver		12/29/2023		12/31/2029		Diversified Consumer Services			9.25	%		1M SOFR+ 525					2,520				2,520				2,470
Omnia Exterior Solutions, LLC - Unfunded Revolver (6), (8)		12/29/2023		12/31/2029		Diversified Consumer Services			—				—				1,680				—				(34	)
One Stop Mailing, LLC		5/26/2021		05/07/2027		Air Freight and Logistics			10.53	%		3M SOFR+ 636					12,941				12,881				12,941
ORL Acquisition, Inc. (6)		9/1/2021		09/03/2027		Consumer Finance			13.70	%		3M SOFR+ 940					7,710				7,406				6,823
								(PIK 7.50%)

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

21

PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES

CONSOLIDATED SCHEDULE OF INVESTMENTS-(Continued)

September 30, 2025

(in thousands, except per share data)

Issuer Name		Acquisition		Maturity		Industry		Current Coupon				Basis Point Spread Above Index (1)				Par / Shares				Cost				Fair Value (2)
ORL Acquisition, Inc. - Unfunded Revolver (6), (8)		9/1/2021		09/03/2027		Consumer Finance			—				—				215				—				(25	)
OSP Embedded Purchaser, LLC		12/11/2023		12/17/2029		Aerospace and Defense			9.77	%		3M SOFR+ 575					36,810				36,445				36,294
OSP Embedded Purchaser, LLC - Unfunded Revolver (8)		12/11/2023		12/17/2029		Aerospace and Defense			—				—				2,932				—				(41	)
Output Services Group, Inc. - First-out Term Loan		11/30/2023		11/30/2028		Business Services			12.71	%		3M SOFR+ 843					828				828				828
Output Services Group, Inc. - Last-out Term Loan		11/30/2023		05/30/2028		Business Services			10.96	%		3M SOFR+ 668					1,681				1,681				1,681
Pacific Purchaser, LLC		10/2/2023		10/02/2028		Professional Services			10.42	%		3M SOFR+ 625					7,123				7,034				7,095
Pacific Purchaser, LLC - Unfunded Revolver (8)		10/2/2023		10/02/2028		Professional Services			—				—				1,799				—				(7	)
PAR Excellence Holdings, Inc.		9/3/2024		09/03/2030		Healthcare Technology			9.32	%		3M SOFR+ 500					27,431				27,186				26,951
PAR Excellence Holdings, Inc. - Unfunded Revolver (8)		9/3/2024		09/03/2030		Healthcare Technology			—				—				4,692				—				(82	)
Paving Lessor Corp.		7/1/2025		07/01/2031		Business Services			9.25	%			—				21,390				21,231				21,230
Paving Lessor Corp. - Unfunded Term Loan (8)		7/1/2025		07/01/2027		Business Services			—				—				8,632				—				—
Paving Lessor Corp. - Unfunded Revolver (8)		7/1/2025		07/01/2031		Business Services			—				—				5,755				—				(43	)
Peninsula Pacific Entertainment, LLC		8/15/2025		08/22/2032		Gaming			9.02	%		3M SOFR+ 475					15,002				14,852				14,965
Peninsula Pacific Entertainment, LLC - Unfunded Term Loan (8)		8/15/2025		08/25/2027		Gaming			—				—				3,516				—				9
Penta Group Holdings, Inc.		7/31/2025		07/31/2031		Professional Services			8.50	%			—				15,000				14,925				14,925
Penta Group Holdings, Inc. - Unfunded Term Loan (8)		7/31/2025		07/31/2027		Professional Services			—				—				6,056				—				—
Penta Group Holdings, Inc. - Funded Revolver		7/31/2025		07/31/2031		Professional Services			8.50	%			—				492				492				490
Penta Group Holdings, Inc. - Unfunded Revolver (8)		7/31/2025		07/31/2031		Professional Services			—				—				1,022				—				(5	)
PCS MIDCO, Inc.		3/1/2024		03/01/2030		Professional Services			9.75	%		3M SOFR+ 575					11,843				11,755				11,843
PCS MIDCO, Inc. - Unfunded Term Loan (8)		3/1/2024		03/02/2026		Professional Services			—				—				2,087				—				21
PCS MIDCO, Inc. - Unfunded Revolver (8)		3/1/2024		03/01/2030		Professional Services			—				—				1,770				—				—
Pink Lilly Holdco, LLC (12)		11/5/2021		11/09/2027		Textiles, Apparel and Luxury Goods			4.35	%			—				9,780				8,422				3,912
Pink Lilly Holdco, LLC - Funded Revolver (12)		11/5/2021		11/09/2027		Textiles, Apparel and Luxury Goods			4.27	%			—				611				611				244
Pink Lilly Holdco, LLC - Unfunded Revolver (8) (12)		11/5/2021		11/09/2027		Textiles, Apparel and Luxury Goods			—				—				534				—				(321	)
PlayPower, Inc.		8/28/2024		08/28/2030		Leisure Products			9.25	%		1M SOFR+ 525					32,086				31,893				32,086
PlayPower, Inc. - Unfunded Revolver (8)		8/28/2024		08/28/2030		Leisure Products			—				—				3,981				—				—
Podean Buyer, LLC		8/4/2025		08/04/2031		Marketing Services			10.00	%		3M SOFR+ 600					8,000				7,920				7,920
Podean Buyer, LLC - Unfunded Revolver (8)		8/4/2025		08/04/2031		Marketing Services			—				—				1,579				—				(16	)
Project Granite Buyer, Inc.		12/31/2024		12/31/2030		Professional Services			9.75	%		3M SOFR+ 575					11,894				11,790				12,013
Project Granite Buyer, Inc. - Unfunded Term Loan (8)		12/31/2024		12/31/2026		Professional Services			—				—				1,708				—				34
Project Granite Buyer, Inc. - Unfunded Revolver (8)		12/31/2024		12/31/2030		Professional Services			—				—				2,846				—				28
Pragmatic Institute, LLC		7/5/2022		03/28/2030		Professional Services			9.50	%			—				575				575				417
Rancho Health MSO, Inc.		12/20/2024		06/20/2029		Healthcare Equipment and Supplies			9.29	%		3M SOFR+ 500					9,310				9,291				9,310
Rancho Health MSO, Inc. - Unfunded Term Loan (8)		12/20/2024		06/30/2026		Healthcare Equipment and Supplies			—				—				3,034				—				28
Rancho Health MSO, Inc. - Funded Revolver (6)		12/20/2024		06/20/2029		Healthcare Equipment and Supplies			9.29	%		3M SOFR+ 500					2,420				2,420				2,420
Rancho Health MSO, Inc. - Unfunded Revolver (6), (8)		12/20/2024		06/20/2029		Healthcare Equipment and Supplies			—				—				880				—				—
Recteq, LLC		1/27/2021		01/29/2026		Leisure Products			10.40	%		3M SOFR+ 640					3,820				3,809				3,810
Recteq, LLC - Funded Revolver		1/27/2021		01/29/2026		Leisure Products			10.46	%		3M SOFR+ 625					360				360				359
Recteq, LLC - Unfunded Revolver (6), (8)		1/27/2021		01/29/2026		Leisure Products			—				—				936				—				(2	)
Rosco Parent, LLC		9/9/2025		09/12/2031		Business Services			8.81	%			—				22,000				21,835				21,835
Rosco Parent, LLC - Unfunded Revolver (8)		9/9/2025		09/12/2031		Business Services			—				—				2,883				—				—
Riverpoint Medical, LLC		6/19/2019		06/21/2027		Healthcare Equipment and Supplies			8.75	%		3M SOFR+ 475					9,728				9,682				9,728
Riverpoint Medical, LLC - Unfunded Revolver (6), (8)		6/19/2019		06/21/2027		Healthcare Equipment and Supplies			—				—				909				—				—
Ro Health, LLC		1/16/2025		01/17/2031		Healthcare Providers and Services			8.50	%		3M SOFR+ 450					15,337				15,235				15,337
Ro Health, LLC - Funded Revolver		1/16/2025		01/17/2031		Healthcare Providers and Services			9.00	%		3M SOFR+ 500					2,329				2,329				2,329
Ro Health, LLC - Unfunded Revolver (8)		1/16/2025		01/17/2031		Healthcare Providers and Services			—				—				5,435				—				—
RRA Corporate, LLC		8/15/2024		08/15/2029		Diversified Consumer Services			9.00	%		3M SOFR+ 500					17,699				17,546				17,593
RRA Corporate, LLC - Unfunded Term Loan (8)		8/15/2024		08/17/2026		Diversified Consumer Services			—				—				15,312				—				61
RRA Corporate, LLC - Funded Revolver		8/15/2024		08/15/2029		Diversified Consumer Services			9.27	%		3M SOFR+ 525					3,090				3,090				3,071
RRA Corporate, LLC - Unfunded Revolver (8)		8/15/2024		08/15/2029		Diversified Consumer Services			—				—				3,627				—				(22	)
RTIC Subsidiary Holdings, LLC		5/3/2024		05/03/2029		Leisure Products			9.75	%		3M SOFR+ 575					47,340				46,734				46,867
RTIC Subsidiary Holdings, LLC - Funded Revolver		5/3/2024		05/03/2029		Leisure Products			9.75	%		3M SOFR+ 575					3,296				3,296				3,263
RTIC Subsidiary Holdings, LLC - Unfunded Revolver (8)		5/3/2024		05/03/2029		Leisure Products			—				—				6,121				—				(61	)
Rural Sourcing Holdings, Inc.		6/8/2023		06/15/2029		Professional Services			9.75	%		3M SOFR+ 575					2,201				2,161				1,981
Rural Sourcing Holdings, Inc. - Funded Revolver		6/8/2023		06/15/2029		Professional Services			9.75	%		3M SOFR+ 575					487				487				438
Rural Sourcing Holdings, Inc. - Unfunded Revolver (6), (8)		6/8/2023		06/15/2029		Professional Services			—				—				373				—				(37	)
Sabel Systems Technology Solutions, LLC		10/31/2024		10/31/2030		Government Services			9.77	%		3M SOFR+ 575					26,649				26,417				26,649
Sabel Systems Technology Solutions, LLC - Funded Revolver		10/31/2024		10/31/2030		Government Services			12.75	%		3M SOFR+ 525					182				182				182
Sabel Systems Technology Solutions, LLC - Unfunded Revolver (8)		10/31/2024		10/31/2030		Government Services			—				—				3,452				—				—
Safe Haven Defense US, LLC		5/23/2024		05/23/2029		Building Products			9.50	%		3M SOFR+ 525					19,845				19,681				19,746
Safe Haven Defense US, LLC - Unfunded Revolver (8)		5/23/2024		05/23/2029		Building Products			—				—				2,920				—				(15	)
Sales Benchmark Index, LLC		12/23/2019		07/07/2026		Professional Services			10.20	%		3M SOFR+ 600					2,504				2,501				2,504
Sales Benchmark Index, LLC - Funded Revolver		12/23/2019		07/07/2026		Professional Services			9.20	%		3M SOFR+ 520					431				431				431
Sales Benchmark Index, LLC - Unfunded Revolver (6), (8)		12/23/2019		07/07/2026		Professional Services			—				—				646				—				—
Sath Industries, LLC		12/17/2024		12/17/2029		Event Services			9.54	%		3M SOFR+ 550					11,295				11,198				11,295
Sath Industries, LLC - Unfunded Revolver (8)		12/17/2024		12/17/2029		Event Services			—				—				2,466				—				—
Schlesinger Global, Inc.		10/24/2019		10/24/2025		Professional Services			12.76	%		3M SOFR+ 860					8,169				8,169				7,761
								(PIK 5.85%)
Schlesinger Global, Inc. - Funded Revolver		10/24/2019		10/24/2025		Professional Services			12.76	%		3M SOFR+ 860					1,674				1,674				1,591
								(PIK 5.85%)
Schlesinger Global, Inc. - Unfunded Revolver (6), (8)		10/24/2019		10/24/2025		Professional Services			—				—				401				—				(20	)
Seacoast Service Partners NA, LLC		12/20/2024		12/20/2029		Diversified Consumer Services			9.01	%		3M SOFR+ 500					10,596				10,515				10,162
Seacoast Service Partners NA, LLC - Unfunded Term Loan (8)		12/20/2024		12/21/2026		Diversified Consumer Services			—				—				5,653				—				(182	)
Seacoast Service Partners NA, LLC - Funded Revolver		12/20/2024		12/20/2029		Diversified Consumer Services			9.00	%		3M SOFR+ 500					892				892				855
Seacoast Service Partners NA, LLC - Unfunded Revolver (8)		12/20/2024		12/20/2029		Diversified Consumer Services			—				—				1,231				—				(50	)
Seaway Buyer, LLC		7/25/2024		06/13/2029		Chemicals, Plastics and Rubber			10.17	%		3M SOFR+ 615					1,882				1,864				1,755
Sigma Defense Systems, LLC		11/30/2021		12/20/2027		IT Services			10.15	%		3M SOFR+ 615					26,344				26,096				26,344
Sigma Defense Systems, LLC - Funded Revolver		11/30/2021		12/20/2027		IT Services			10.90	%		3M SOFR+ 690					764				764				764
Sigma Defense Systems, LLC - Unfunded Revolver (6), (8)		11/30/2021		12/20/2027		IT Services			—				—				2,548				—				—
Smartronix, LLC		2/6/2025		02/06/2032		Aerospace and Defense			8.66	%		1M SOFR+ 450					5,970				5,914				5,992
Smile Brands, Inc.		10/4/2018		10/12/2027		Healthcare and Pharmaceuticals			10.43	%		1M SOFR+ 610					4,609				4,323				3,978
								(PIK 1.50%)
Smile Brands, Inc. - Funded Revolver		10/4/2018		10/12/2027		Healthcare and Pharmaceuticals			10.43	%		1M SOFR+ 610					1,047				1,047				903
Smile Brands, Inc. - Unfunded Revolver (6), (8)		10/4/2018		10/12/2027		Healthcare and Pharmaceuticals			—				—				531				—				(73	)

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

22

PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES

CONSOLIDATED SCHEDULE OF INVESTMENTS-(Continued)

September 30, 2025

(in thousands, except per share data)

Issuer Name		Acquisition		Maturity		Industry		Current Coupon				Basis Point Spread Above Index (1)				Par / Shares				Cost				Fair Value (2)
Smile Brands, Inc. - Unfunded Revolver - LC (6) (8)		10/4/2018		10/12/2027		Healthcare and Pharmaceuticals			—				—				100				—				(14	)
Spendmend Holdings, LLC		3/1/2022		03/01/2028		Healthcare Technology			9.15	%		3M SOFR+ 515					2,949				2,929				2,949
Spendmend Holdings, LLC - Unfunded Term Loan (8)		3/1/2022		11/25/2026		Healthcare Technology			—				—				2,922				—				15
Spendmend Holdings, LLC - Funded Revolver		3/1/2022		03/01/2028		Healthcare Technology			9.15	%		3M SOFR+ 515					149				149				149
Spendmend Holdings, LLC - Unfunded Revolver (8)		3/1/2022		03/01/2028		Healthcare Technology			—				—				743				—				—
STG Distribution, LLC - First Out New Money Term Loans		8/27/2025		10/03/2029		Air Freight and Logistics			12.57	%		1M SOFR+ 835					784				700				698
STG Distribution, LLC - Second Out Term Loans (12)		8/27/2025		10/03/2029		Air Freight and Logistics			5.32	%							1,814				541				145
SV-Aero Holdings, LLC		10/31/2024		11/01/2030		Aerospace and Defense			9.00	%		3M SOFR+ 500					15,275				15,211				15,275
SV-Aero Holdings, LLC - Unfunded Term Loan (8)		10/31/2024		11/02/2026		Aerospace and Defense			—				—				7,259				—				36
Symplr Software, Inc.		8/27/2025		12/20/2027		Software			8.91	%		3M SOFR+ 460					680				622				610
Systems Planning And Analysis, Inc.		10/12/2021		08/16/2027		Aerospace and Defense			8.75	%		3M SOFR+ 475					46,315				46,011				45,944
Systems Planning And Analysis, Inc. - Funded Revolver		10/12/2021		08/16/2027		Aerospace and Defense			8.90	%		3M SOFR+ 475					774				774				768
Systems Planning And Analysis, Inc. - Unfunded Term Loan (8)		10/12/2021		06/12/2027		Aerospace and Defense			—				—				2,131				—				(6	)
Systems Planning And Analysis, Inc. - Unfunded Revolver (8)		10/12/2021		08/16/2027		Aerospace and Defense			—				—				7,590				—				(61	)
TCG 3.0 Jogger Acquisitionco, Inc.		1/23/2024		01/23/2029		Media			10.52	%		3M SOFR+ 650					9,345				9,259				9,298
TCG 3.0 Jogger Acquisitionco, Inc. - Funded Revolver		1/23/2024		01/23/2029		Media			12.75	%		3M SOFR+ 550					437				437				435
TCG 3.0 Jogger Acquisitionco, Inc. - Unfunded Revolver (8)		1/23/2024		01/23/2029		Media			—				—				1,990				—				(10	)
Team Services Group, LLC		2/23/2024		12/20/2027		Healthcare Providers and Services			9.56	%		3M SOFR+ 525					15,753				15,590				15,687
The Bluebird Group, LLC		7/22/2021		07/28/2026		Professional Services			9.90	%		3M SOFR+ 590					13,608				13,569				13,608
The Bluebird Group, LLC - Unfunded Revolver (6), (8)		7/22/2021		07/28/2026		Professional Services			—				—				862				—				—
The Vertex Companies, LLC (6)		8/25/2021		08/31/2028		Construction & Engineering			9.01	%		1M SOFR+ 495					22,561				22,428				22,448
The Vertex Companies, LLC - Funded Revolver		8/25/2021		08/31/2028		Construction & Engineering			8.99	%		1M SOFR+ 495					2,007				2,007				1,996
The Vertex Companies, LLC - Unfunded Revolver (6), (8)		8/25/2021		08/31/2028		Construction & Engineering			—				—				3,466				—				(17	)
TMII Enterprises, LLC		12/19/2022		12/22/2028		Commercial Services & Supplies			8.66	%		3M SOFR+ 450					3,543				3,527				3,543
TMII Enterprises, LLC - Unfunded Revolver (6), (8)		12/19/2022		12/22/2028		Commercial Services & Supplies			—				—				748				—				—
TPC US Parent, LLC		11/15/2019		11/24/2025		Food Products			10.19	%		3M SOFR+ 590					12,259				12,251				12,161
TransGo, LLC		12/29/2023		12/29/2028		Auto Components			9.91	%		3M SOFR+ 575					10,904				10,785				10,985
TransGo, LLC - Unfunded Revolver (6), (8)		12/29/2023		12/29/2028		Auto Components			—				—				4,440				—				33
Tyto Athene, LLC		3/26/2021		04/03/2028		IT Services			9.19	%		3M SOFR+ 490					16,500				16,304				16,088
US Fertility Enterprises, LLC		10/7/2024		10/11/2031		Healthcare Providers and Services			8.80	%		1M SOFR+ 450					2,039				2,040				2,039
Urology Management Holdings, Inc.		9/3/2024		06/15/2027		Healthcare Providers and Services			9.66	%		1M SOFR+ 550					5,550				5,530				5,550
Urology Management Holdings, Inc. - Unfunded Term Loan (8)		9/3/2024		09/03/2026		Healthcare Providers and Services			—				—				2,400				—				12
Walker Edison Furniture Company, LLC - New Money DIP		3/1/2023		03/01/2029		Wholesale			10.00	%			—				223				223				228
Walker Edison Furniture Company, LLC - Unfunded Term Loan (8)		3/1/2023		03/01/2029		Wholesale			—				—				590				—				21
Watchtower Buyer, LLC		11/29/2023		12/03/2029		Electronic Equipment, Instruments, and Components			10.00	%		3M SOFR+ 600					12,772				12,643				12,644
Watchtower Buyer, LLC - Unfunded Revolver (8)		11/29/2023		12/03/2029		Electronic Equipment, Instruments, and Components			—				—				6,300				—				(63	)
Wash & Wax Systems, LLC		4/30/2025		04/30/2028		Consumer Services			9.81	%		3M SOFR+ 550					6,446				6,559				6,568
Wash & Wax Systems, LLC - Funded Revolver		4/30/2025		04/30/2028		Consumer Services			9.81	%		3M SOFR+ 550					17				17				17
Wash & Wax Systems, LLC - Unfunded Revolver (6) (8)		4/30/2025		04/30/2028		Consumer Services			—								830				—				—
Total First Lien Secured Debt																				$	2,289,071			$	2,275,982
Second Lien Secured Debt - 0.1% of Net Assets
Team Services Group, LLC - 2nd Lien		2/23/2024		12/18/2028		Healthcare Providers and Services			13.57	%		3M SOFR+ 926					1,000			$	995			$	995
Total Second Lien Secured Debt																				$	995			$	995
Subordinate Debt - 1.7% of Net Assets
Beacon Behavioral Holdings, LLC		6/21/2024		06/21/2030		Healthcare Providers and Services			15.00	%			—				5,229				5,176				5,229
Integrative Nutrition, LLC - Promissory Note #1		4/17/2025		04/15/2030		Consumer Services			—				—				2,623				2,276				2,243
Integrative Nutrition, LLC - Promissory Note #2		4/17/2025		04/15/2033		Consumer Services			—				—				5,975				2,763				2,763
ORL Holdco, Inc. - Convertible Notes		8/2/2024		03/08/2028		Consumer Finance			18.00	%			—				13				13				—
ORL Holdco, Inc. - Unfunded Convertible Notes (8)		8/2/2024		03/08/2028		Consumer Finance			—				—				13				—				(13	)
OSP Embedded Purchaser, LP - Convertible Note		11/6/2024		05/08/2030		Aerospace and Defense			12.00	%			—				47				471				547
Schlesinger Global, LLC - Promissory Note		2/21/2024		01/08/2026		Professional Services			12.76	%		3M SOFR+ 860					66				66				136
StoicLane, Inc. - Convertible Notes		8/15/2024		08/16/2027		Healthcare Technology			12.00	%			—				2,288				2,288				2,632
StoicLane, Inc. - Unfunded Convertible Notes (8)		8/15/2024		08/16/2027		Healthcare Technology			—				—				763				—				115
Wash & Wax Systems, LLC - Subordinate Debt		4/30/2025		07/30/2028		Consumer Services			12.00	%			—				4,334				4,334				4,334
Total Subordinate Debt																				$	17,387			$	17,986
Preferred Equity - 1.9% of Net Assets(5)
Accounting Platform Holdings, Inc. - Preferred Equity - Series A		8/9/2024				Professional Services			—				—				1,075,900				1,076				1,076
Ad.Net Holdings, Inc. - Preferred Equity		5/4/2021				Media			—				—				6,720				672				602
AFC Acquisitions, Inc. Preferred Equity - Series F-2 (7)		12/7/2023				Distributors			—				—				825				1,262				1,380
AFC Acquisitions, Inc. Preferred Equity - Series G-2 (7)		12/7/2023				Distributors			—				—				18				31				33
AFC Acquisitions, Inc. Preferred Equity - Series H-2 (7)		12/7/2023				Distributors			—				—				10				20				21
AFC Acquisitions, Inc. Preferred Equity - Series I-2 (7)		12/7/2023				Distributors			—				—				9				19				19
AFC Acquisitions, Inc. Preferred Equity - Series J-2 (7)		12/7/2023				Distributors			—				—				17				34				33
Anteriad Holdings, LP (f/k/a MeritDirect Holdings, LP) - Preferred Equity (6), (7)		5/21/2019				Media			—				—				2,018				2,018				1,990
BioDerm Holdings, LP - Preferred Equity		1/30/2023				Healthcare Equipment and Supplies			—				—				1,313				1,313				1,308
Cartessa Aesthetics, LLC - Preferred Equity (7)		6/1/2022				Distributors			—				—				1,437,500				1,438				3,263
Connatix Parent, LLC		7/8/2021				Media			—				—				5,311				5				5
Consello Pacific Aggregator, LLC - Preferred Equity (7)		10/2/2023				Professional Services			—				—				1,025,476				973				790
C5MI Holdco, LLC - Preferred Equity (7)		7/31/2024				IT Services			—				—				228,900				223				238
EvAL Home Health Solutions, LLC (7)		5/10/2024				Healthcare, Education and Childcare			—				—				876,386				1,455				1,315
Five Star Parent Holdings, LLC - Preferred (Class P)		2/21/2023				Hotels, Restaurants and Leisure			—				—				384				38				164
Gauge Schlesinger Coinvest, LLC - Preferred Equity		4/22/2020				Professional Services			—				—				64				64				—
Hancock Claims Consultants Investors, LLC - Preferred Equity (7)		12/23/2020				Insurance			—				—				116,588				76				134
HPA SPQ Aggregator, LP - Preferred Equity		6/8/2023				Professional Services			—				—				52,353				52				52
Imagine Topco. LP - Preferred Equity		11/4/2021				Software			8.00	%			—				1,236,027				1,236				1,689
Magnolia Topco, LP - Preferred Equity - Class A (7)		7/25/2023				Automobiles			—				—				47				47				43
Magnolia Topco, LP - Preferred Equity - Class A-1 (7)		7/25/2023				Automobiles			—				—				16				16				32
Magnolia Topco, LP - Preferred Equity - Class B (7)		7/25/2023				Automobiles			—				—				31				20				—
Megawatt Acquisition Partners, LLC - Preferred Equity - Class A		6/28/2024				Electronic Equipment, Instruments, and Components			—				—				9,360				936				731
NXOF Holdings, Inc. - Preferred Equity		9/25/2018				IT Services			—				—				1,935				1,935				2,021
ORL Holdco, Inc. - Preferred Equity		9/1/2021				Consumer Finance			—				—				1,327				133				1

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

23

PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES

CONSOLIDATED SCHEDULE OF INVESTMENTS-(Continued)

September 30, 2025

(in thousands, except per share data)

Issuer Name		Acquisition		Maturity		Industry		Current Coupon				Basis Point Spread Above Index (1)				Par / Shares				Cost				Fair Value (2)
Pink Lily Holdco, LLC - Preferred Equity - Class A-1 (7)		11/5/2021				Textiles, Apparel and Luxury Goods			—				—				122				122				—
RTIC Parent Holdings, LLC - Preferred Equity - Class A (7)		5/3/2024				Leisure Products			—				—				9				9				—
RTIC Parent Holdings, LLC - Preferred Equity - Class C (7)		5/3/2024				Leisure Products			—				—				18,450				1,215				2,246
RTIC Parent Holdings, LLC - Preferred Equity - Class D (7)		5/3/2024				Leisure Products			—				—				19,584				196				264
SP L2 Holdings, LLC - Preferred Equity		11/4/2021				Leisure Products			—				—				135,240				33				—
SP L2 Holdings, LLC - Unfunded Preferred Equity (8)		11/4/2021				Leisure Products			—				—				77,280				—				(19	)
TPC Holding Company, LP - Preferred Equity		12/4/2019				Food Products			—				—				409				409				441
TWD Parent Holdings, LLC - Preferred Equity		8/25/2021				Construction & Engineering			—				—				41				39				58
UniTek Global Services, Inc. - Super Senior Preferred Equity		1/13/2015				Telecommunications			20.00	%			—				320,711				322				722
UniTek Global Services, Inc. - Senior Preferred Equity		1/13/2015				Telecommunications			19.00	%			—				448,851				449				—
UniTek Global Services, Inc. - Preferred Equity		1/13/2015				Telecommunications			13.50	%			—				1,047,317				670				—
Total Preferred Equity																				$	18,556			$	20,652
Common Equity/Warrants - 16.4% of Net Assets(5)
A1 Garage Equity, LLC - Common Equity (7)		12/19/2022				Commercial Services & Supplies			—				—				647,943				648				1,150
48Forty Intermediate Holdings, Inc. - Common Equity		8/27/2025				Business Services			—				—				529				—				—
ACP Big Top Holdings, LP - Common Equity		2/29/2024				Construction & Engineering			—				—				3,000,500				2,883				4,398
Ad.Net Holdings, Inc. - Common Equity		5/4/2021				Media			—				—				7,467				75				—
Aechelon InvestCo, LP		8/16/2024				Aerospace and Defense			—				—				29,917				2,992				11,379
Aechelon InvestCo, LP - Unfunded Common Equity (8)		8/16/2024				Aerospace and Defense			—				—				33,433				—				—
Aftermarket Drivetrain Products Holdings, LLC - Common Equity		12/29/2023				Auto Components			—				—				2,632				2,632				4,899
AG Investco - Common Equity (6), (7)		11/5/2018				Software			—				—				8,052				805				75
AG Investco - Unfunded Common Equity  (7), (8)		11/5/2018				Software			—				—				1,948				—				(177	)
Altamira Parent Holdings, LLC - Common Equity		7/23/2019				IT Services			—				—				1,437,500				1,438				1,335
Anteriad Holdings, LP (f/k/a MeritDirect Holdings, LP) - Common Equity (7)		5/21/2019				Media			—				—				2,018				—				—
Athletico Holdings, LLC - Common Equity (7)		2/4/2022				Healthcare Providers and Services			—				—				4,678				5,000				3,449
Aphix Topco, Inc. - Common Equity		7/17/2025				Business Services			—				—				819,190				819				868
APT Holdings, LLC - Common Equity (7)		9/29/2025				Healthcare Providers and Services			—				—				855,110				1,152				1,152
Azureon Holdings, LLC (7)		6/26/2024				Diversified Consumer Services			—				—				1,130,707				1,131				961
BioDerm Holdings, LP - Common Equity		1/30/2023				Healthcare Equipment and Supplies			—				—				1,313				—				—
Burgess Point Holdings, LP - Common Equity		7/21/2022				Auto Components			—				—				112				114				121
By Light Investco LP - Common Equity (7)		5/15/2017				High Tech Industries			—				—				22,789				—				15,662
Carisk Parent, LP - Common Equity		11/27/2023				Healthcare Technology			—				—				239,680				240				276
Carnegie HoldCo, LLC (7)		2/7/2024				Professional Services			—				—				2,719,600				2,599				2,040
Connatix Parent, LLC - Common Equity		7/8/2021				Media			—				—				182,141				421				210
Crane 1 Acquisition Parent Holdings, LP - Common Equity		8/11/2021				Commercial Services & Supplies			—				—				130				120				254
C5MI Holdco, LLC - Common Equity (7)		7/31/2024				IT Services			—				—				1,659,050				1,659				1,526
Delta InvestCo, LP - Common Equity  (7)		12/16/2020				IT Services			—				—				804,615				763				1,557
Delta InvestCo, LP - Unfunded Common Equity (7), (8)		12/16/2020				IT Services			—				—				200,255				—				—
Duggal Equity, LP - Common Equity		9/30/2024				Marketing Services			—				—				686				686				629
EDS Topco, LP - Common Equity		12/19/2022				Electronic Equipment, Instruments, and Components			—				—				1,125,000				1,125				2,322
Events TopCo, LP - Common Equity		12/17/2024				Event Services			—				—				1,016,800				1,017				1,297
Exigo, LLC - Common Equity		3/10/2022				Software			—				—				541,667				542				575
FedHC InvestCo, LP - Common Equity (7)		8/26/2021				Aerospace and Defense			—				—				22,671				810				3,006
FedHC InvestCo, LP - Unfunded Common Equity (7), (8)		8/26/2021				Aerospace and Defense			—				—				3,721				—				—
First Medical Holdings, LLC - Common Equity		6/13/2025				Healthcare Providers and Services			—				—				75,000				750				773
Five Star Parent Holdings, LLC - Common Equity		2/21/2023				Hotels, Restaurants and Leisure			—				—				655,714				656				—
Gauge ETE Blocker, LLC - Common Equity		5/24/2023				Diversified Consumer Services			—				—				374,444				374				288
Gauge Lash Coinvest, LLC - Common Equity		12/4/2019				Personal Products			—				—				2,057,387				1,588				4,059
Gauge Loving Tan, LP - Common Equity		5/25/2023				Personal Products			—				—				2,914,701				2,915				3,755
Gauge Schlesinger Coinvest, LLC - Common Equity		4/22/2020				Professional Services			—				—				465				476				3
GCP Boss Holdco, LLC		12/27/2024				Independent Power and Renewable Electricity Producers			—				—				2,194,800				2,195				3,182
GCOM InvestCo, LP - Common Equity		6/22/2021				IT Services			—				—				19,184				3,342				5,115
GGG Topco, LLC (7)		9/27/2024				Diversified Consumer Services			—				—				2,759,800				2,760				3,586
GMP Hills, LP - Common Equity		11/2/2023				Distributors			—				—				4,430,843				4,431				5,494
Hancock Claims Consultants Investors, LLC - Common Equity (7)		12/23/2020				Insurance			—				—				450,000				448				194
HPA SPQ Aggregator, LP - Common Equity		6/8/2023				Professional Services			—				—				750,399				750				46
HV Watterson Holdings, LLC - Common Equity		6/13/2022				Professional Services			—				—				100,000				100				—
Icon Partners V C, LP - Common Equity		12/20/2021				Internet Software and Services			—				—				2,002,138				2,002				1,973
Icon Partners V C, LP - Unfunded Common Equity (8)		12/20/2021				Internet Software and Services			—				—				497,862				—				(7	)
Imagine Topco. LP - Common Equity		11/4/2021				Software			—				—				1,236,027				—				114
IHS Parent Holdings, LP - Common Equity		12/21/2022				Commercial Services & Supplies			—				—				1,218,045				1,218				1,717
Ironclad Holdco, LLC - Common Equity		12/23/2020				Commercial Services & Supplies			—				—				6,355				668				1,450
ITC Infusion Co-invest, LP - Common Equity (7)		2/16/2022				Healthcare Equipment and Supplies			—				—				116,032				1,195				3,156
Kinetic Purchaser, LLC - Common Equity - Class A		11/8/2021				Personal Products			—				—				1,734,775				1,735				15
Kinetic Purchaser, LLC - Common Equity - Class AA		11/8/2021				Personal Products			—				—				153,339				179				359
KL Stockton Co-Invest, LP - Common Equity (7)		7/16/2021				Energy Equipment and Services			—				—				382,353				385				638
Lightspeed Investment Holdco, LLC - Common Equity (6)		1/21/2020				Healthcare Technology			—				—				585,587				586				2,129
LJ Avalon, LP - Common Equity		1/18/2023				Construction & Engineering			—				—				1,638,043				1,638				2,621
Lucky Bucks Holdco, LLC - Common Equity		10/2/2023				Hotels, Restaurants and Leisure			—				—				73,870				2,062				392
Marketplace Events Acquisition, LLC - Common Equity		12/19/2024				Media: Diversified and Production			—				—				40,990				4,099				4,848
Magnolia Topco, LP - Common Equity - Class A (7)		7/25/2023				Automobiles			—				—				46,974				—				—
Magnolia Topco, LP - Common Equity - Class B (7)		7/25/2023				Automobiles			—				—				30,926				—				—
MDI Aggregator, LP - Common Equity		7/19/2022				Commodity Chemicals			—				—				11,078				1,122				1,054
Meadowlark Title, LLC - Common Equity (7)		12/9/2021				Professional Services			—				—				819,231				806				385
Megawatt Acquisition Partners, LLC - Common Equity - Class A		6/28/2024				Electronic Equipment, Instruments, and Components			—				—				1,040				104				—
Municipal Emergency Services, Inc. - Common Equity		9/28/2021				Distributors			—				—				1,973,370				2,005				4,105
NEPRT Parent Holdings, LLC - Common Equity (7)		1/27/2021				Leisure Products			—				—				1,494				1,438				236
New Insight Holdings, Inc. (6)		7/15/2024				Business Services			—				—				203,819				3,565				3,055
New Medina Health, LLC - Common Equity (7)		10/16/2023				Healthcare Providers and Services			—				—				2,672,646				2,673				4,161
NFS - CFP Holdings LLC - Common Equity		9/13/2024				Commercial Services & Supplies			—				—				1,337,017				1,337				1,622
NORA Parent Holdings, LLC - Common Equity (7)		8/22/2023				Healthcare Providers and Services			—				—				2,544				2,525				1,238

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

24

PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES

CONSOLIDATED SCHEDULE OF INVESTMENTS-(Continued)

September 30, 2025

(in thousands, except per share data)

Issuer Name		Acquisition		Maturity		Industry		Current Coupon				Basis Point Spread Above Index (1)				Par / Shares				Cost				Fair Value (2)
North Haven Saints Equity Holdings, LP - Common Equity (7)		2/25/2022				Healthcare Technology			—				—				223,602				224				226
NXOF Holdings, Inc. - Common Equity		9/25/2018				IT Services			—				—				37,561				496				—
OceanSound Discovery Equity, LP - Common Equity  (7)		3/28/2024				Aerospace and Defense			—				—				211,940				2,119				2,643
OES Co-Invest, LP - Common Equity - Class A		5/31/2024				Diversified Consumer Services			—				—				1,560				1,580				1,326
OHCP V BC COI, LP - Common Equity		12/13/2021				Distributors			—				—				1,166,407				1,166				642
OHCP V BC COI, LP - Unfunded Common Equity (8)		12/13/2021				Distributors			—				—				83,593				—				(38	)
ORL Holdco, Inc. - Common Equity		9/1/2021				Consumer Finance			—				—				1,474				15				—
OSP Embedded Aggregator, LP - Common Equity		12/11/2023				Aerospace and Defense			—				—				1,728				1,728				2,007
Output Services Group, Inc. - Common Equity (6)		11/30/2023				Business Services			—				—				127,369				1,155				1,046
OSP PAR Aggregator, LP - Common Equity		9/3/2024				Healthcare Technology			—				—				3,160				3,171				3,037
Paving Parent, LLC - Common Equity		7/1/2025				Business Services			—				—				3,057				3,057				2,863
Penta Group Holdings, Inc. - Common Equity		7/31/2025				Professional Services			—				—				1,901,412				1,901				1,901
PCS Parent, LP		3/1/2024				Professional Services			—				—				423,247				423				423
Pink Lily Holdco, LLC - Common Equity (7)		11/5/2021				Textiles, Apparel and Luxury Goods			—				—				1,735				1,735				—
Podean Intermediate II, LLC - Common Equity		8/4/2025				Marketing Services			—				—				570				570				570
Pragmatic Holdco, Inc. - Common Equity		3/28/2025				Professional Services			—				—				18				—				—
Project Granite Holdings, LLC		12/31/2024				Professional Services			—				—				1,139				1,139				1,191
Quad (U.S.) Co-Invest, LP - Common Equity		10/3/2022				Professional Services			—				—				235,194				235				364
QuantiTech InvestCo, LP - Common Equity (7)		5/1/2020				Aerospace and Defense			—				—				700				—				96
QuantiTech InvestCo, LP - Unfunded Common Equity (7) (8)		5/1/2020				Aerospace and Defense			—				—				955				—				—
QuantiTech InvestCo II, LP - Common Equity (7)		5/1/2020				Aerospace and Defense			—				—				40				12				7
RFMG Parent, LP - Common Equity		12/16/2020				Healthcare Equipment and Supplies			—				—				1,050,000				1,050				1,292
Ro Health Holdings, Inc. - Common Equity		1/16/2025				Healthcare Providers and Services			—				—				536,400				536				807
Rosco Topco, LLC - Common Equity		9/9/2025				Business Services			—				—				1,517,241				1,517				1,517
Safe Haven Defense Holdco, LLC - Common Equity (7)		5/23/2024				Building Products			—				—				641				641				233
SBI Holdings Investments, LLC - Common Equity		12/23/2019				Professional Services			—				—				64,634				646				724
Sabel InvestCo, LP. - Common Equity (7)		10/31/2024				Government Services			—				—				89,712				2,271				3,007
Sabel InvestCo, LP. - Unfunded Common Equity (7), (8)		10/31/2024				Government Services			⚠️ Filing Content Truncated This filing was too large to display in its entirety (original size: 24.37 MB). The content has been truncated to fit within database limits. To view the complete filing, please visit the original source: View Complete Filing on SEC Website Filing: 10-Q - PennantPark Floating Rate Capital Ltd. (PFLT) Accession Number: 0001193125-26-042778

FAQ

What types of assets does PFLT hold in its non-controlled, non-affiliated portfolio?

PFLT primarily holds first lien secured debt in its non-controlled, non-affiliated portfolio, supplemented by preferred equity, common equity, and warrants. The positions include funded and unfunded revolvers and term loans across a wide range of middle-market companies and industries.

Which industries are represented in PFLT’s disclosed portfolio companies?

The portfolio spans healthcare providers and services, aerospace and defense, media, professional services, business services, distributors, consumer products, and leisure products. Other represented sectors include IT services, construction and engineering, chemicals, and diversified consumer services.

What are some example coupon rates on PFLT’s first lien secured debt investments?

Disclosed current coupons include 8.50% on BLC Holding Company, Inc., 9.42% on Archer Lewis, LLC, 9.81% on Wash & Wax Systems, LLC, and 12.76% on Schlesinger Global, Inc. Many loans are expressed as SOFR-based spreads, such as SOFR+575 or SOFR+535.

How far out do maturities extend on PFLT’s loan investments?

The schedule shows maturities ranging from 2025 through 2032. Examples include loans to Compex Legal Services, Inc. maturing in 2026, BLC Holding Company, Inc. maturing in 2030, and Smartronix, LLC and Peninsula Pacific Entertainment, LLC with maturities in 2032.

Does PFLT invest only in debt, or also in equity and warrants?

Alongside its first lien secured debt focus, PFLT also holds preferred equity, common equity, and warrants. Examples include UniTek Global Services, Inc. warrants, RTIC Parent Holdings, LLC preferred equity, and common equity stakes in companies like Watchtower Holdings, LLC and Seacoast Service Partners, LLC.