Welcome to our dedicated page for Palmer Square Capital Bdc SEC filings (Ticker: PSBD), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
This page provides access to U.S. Securities and Exchange Commission filings for Palmer Square Capital BDC Inc. (NYSE: PSBD), an externally managed, non-diversified closed-end management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. Through these filings, investors can review the regulatory record that describes the company’s investment objective, portfolio composition, capital structure, and governance.
Palmer Square Capital BDC Inc. files annual reports on Form 10-K and quarterly reports on Form 10-Q, which include audited or reviewed financial statements, consolidated statements of assets and liabilities, statements of operations, and detailed portfolio schedules. These reports outline the company’s focus on lending to and investing in corporate debt loans and other debt securities, including senior secured loans, CLO mezzanine and equity interests, corporate bonds, and equity investments, as well as the proportion of floating-rate assets and income-producing investments.
The company also submits current reports on Form 8-K to disclose material events such as dividend declarations, estimates of net asset value per share, amendments to credit facilities, and the release of quarterly financial results. For example, Form 8-K filings describe supplemental and base dividends, changes to borrowing arrangements, and management’s unaudited estimates of NAV per share as of specific month-end dates. Proxy materials on Schedule 14A detail matters submitted to stockholders, including director elections and the ratification of the independent registered public accounting firm.
On Stock Titan, PSBD’s filings are updated in near real time as they are made available on EDGAR. AI-powered tools can help summarize lengthy documents, highlight key sections on portfolio performance, leverage, fees, and distributions, and surface items such as voting results from annual meetings. Users can also review disclosures related to credit facilities and other direct financial obligations. Together, these filings offer a structured view of how Palmer Square Capital BDC Inc. reports its financial condition, investment activities, and corporate actions within the BDC regulatory framework.
Palmer Square Capital BDC Inc. reported fourth-quarter 2025 total investment income of $29.8 million, down from $34.9 million a year earlier, and net investment income of $13.1 million, or $0.41 per share. Net asset value was $14.85 per share as of December 31, 2025, versus $15.39 at September 30, reflecting $18.4 million of net realized and unrealized losses.
For full-year 2025, total investment income was $124.4 million and net investment income was $53.5 million, or $1.66 per share, while realized and unrealized losses of $56.6 million led to a small net decrease in net assets from operations. Net assets were $464.1 million, or $14.85 per share, with a debt-to-equity ratio of 1.54x.
The investment portfolio had a fair value of about $1.2 billion across 205 companies in 42 industries, with 95% in senior secured loans and only 0.09% of investments on non-accrual by fair value. The company paid $0.43 per share in cash distributions for the quarter and declared a first-quarter 2026 base dividend of $0.36 per share, payable April 9, 2026, with a supplemental dividend expected to be announced in March.
Palmer Square Capital BDC Inc., a Maryland-based business development company listed on the NYSE under the symbol PSBD, files its annual report for the year ended December 31, 2025. The company is externally managed by Palmer Square BDC Advisor LLC and operates as a regulated investment company for tax purposes.
The business focuses on generating total return from corporate debt securities, primarily first-lien senior secured loans to U.S. private companies, and from investments in CLO structured credit funds including equity and junior debt tranches. It may also use derivatives for hedging and, at times, receive equity warrants alongside debt positions.
As of December 31, 2025, Palmer Square Capital BDC held 264 debt and equity investments across 205 portfolio companies, with total assets of approximately $1.2 billion. The portfolio spans sectors such as IT services, healthcare, financial services, industrials, and media, with individual positions like Nexus Buyer LLC and Gainwell Acquisition Corp. each representing close to one percent of total assets, highlighting a broadly diversified loan book.
Palmer Square Capital BDC Inc. reported that management’s unaudited estimate of its net asset value (NAV) per share was $14.48 as of January 31, 2026. This NAV figure reflects management’s internal estimate of the value of the company’s assets minus its liabilities on a per-share basis.
Palmer Square Capital BDC Inc. reported that management’s unaudited estimate of its net asset value (NAV) per share was $14.83 as of December 31, 2025. NAV per share represents the value of the company’s investment portfolio and other assets, minus its liabilities, divided by the number of shares. This estimate gives investors a snapshot of what the company believes each share was worth based on underlying assets at year-end 2025, before any audit adjustments.
Alaris Master Fund LP and Alaris Capital, LLC have filed an amended ownership report showing a significant passive stake in Palmer Square Capital BDC Inc.
The filing states that each Alaris entity is deemed to beneficially own 2,517,527 shares of Palmer Square Capital BDC common stock, representing 8.0% of the outstanding class as of the 12/31/2025 event date. Both entities report shared power to vote and dispose of all these shares, with no sole voting or dispositive power.
The certification clarifies that the securities were not acquired to change or influence control of Palmer Square Capital BDC and are held on a passive basis. The statement is signed by Hunter Armistead, Chief Investment Officer, on behalf of the reporting persons.
Palmer Square Capital BDC Inc. declared a fourth quarter 2025 supplemental dividend of $0.07 per share. This supplemental dividend is payable on January 14, 2026 to stockholders of record as of December 29, 2025. It will be paid from the excess of the company’s quarterly undistributed net investment income above the previously declared fourth quarter 2025 base dividend of $0.36 per share, which is also payable on January 14, 2026 to shareholders of record as of December 29, 2025. Together, these amounts bring total declared cash dividends for the quarter to $0.43 per share.
Palmer Square Capital BDC Inc. reported the results of a shareholder vote. Stockholders voted on the election of directors, with Christopher D. Long receiving 16,299,929 votes for and 13,280 votes withheld, and Megan L. Webber receiving 15,318,776 votes for and 994,433 votes withheld.
A separate proposal received 24,316,281 votes for, 5,483 votes against, and 42 abstentions, indicating strong overall support among voting shareholders.
Palmer Square Capital BDC Inc. reported management’s unaudited estimate of its net asset value (NAV) per share at $15.31 as of November 30, 2025. NAV per share represents the value of the company’s assets minus its liabilities, divided by the number of common shares, and helps investors gauge the underlying value of the business development company’s portfolio.
Palmer Square Capital BDC Inc. is holding its 2025 Annual Meeting of Stockholders electronically via live webcast on December 18, 2025 at 10:00 a.m. Central Time. Stockholders of record as of November 17, 2025 can vote online, by phone, by mail, or during the webcast.
Stockholders will vote on two main items: electing two Class I directors, Christopher D. Long (an interested director and CEO) and independent director Megan L. Webber, to terms running until the 2028 annual meeting, and ratifying PricewaterhouseCoopers LLP as independent registered public accounting firm for the year ending December 31, 2025. The Board, including all independent directors, unanimously recommends voting “FOR” both proposals.
The filing details the Company’s governance structure, board committees, and independence determinations, notes that 31,478,948 common shares were outstanding as of the record date, outlines significant beneficial holders, and discloses director compensation, with each independent director receiving $50,000 in 2024. It also summarizes advisory, administration and related-party arrangements and reports PwC audit and related fees of $577,619 for 2024.
Palmer Square Capital BDC Inc. reported that management’s unaudited estimate of its net asset value (NAV) per share was $15.27 as of October 31, 2025. NAV per share represents the value of the company’s assets minus its liabilities, divided by the number of shares, and helps investors gauge what the underlying investment portfolio is worth on a per-share basis. This update is presented as an estimate and is unaudited, meaning it has been prepared by management and has not been reviewed or audited by independent accountants.