Palmer Square Capital BDC Inc. reported a decrease in total assets to $1.13 billion as of June 30, 2026, down from $1.22 billion at the end of 2025. The decline was primarily attributed to a reduction in the fair value of non-controlled, non-affiliated investments, which fell to $1.11 billion from $1.20 billion. The company's net assets also decreased, ending the period at $406.15 million, compared to $464.12 million at the end of the previous fiscal period. The net asset value per share dropped to $13.21 from $14.85.
For the second quarter of 2026, Palmer Square reported total investment income of $27.30 million, a decrease from $31.68 million in the same quarter of 2025. The decline in revenue was driven by lower interest income, which fell to $25.82 million from $30.02 million year-over-year. The company’s net investment income for the quarter was $12.04 million, down from $13.84 million in the prior year. However, the net increase in net assets resulting from operations was $8.45 million, compared to $7.17 million in the same quarter of 2025.
Operationally, Palmer Square's investment portfolio consisted of 282 debt and equity investments across 206 portfolio companies as of June 30, 2026. This represents an increase in the number of investments from 264 in December 2025. The company’s investment activity included gross investments of $72.37 million during the second quarter, offset by $109.84 million in sales and repayments. The weighted average total yield to maturity of debt and income-producing securities at fair value was reported at 11.95%, up from 11.30% at the end of 2025.
In terms of strategic developments, Palmer Square has continued to utilize its credit facilities effectively, with $236.88 million outstanding under the Bank of America Credit Facility and $159.58 million under the Wells Fargo Credit Facility as of June 30, 2026. The company also engaged in share repurchase activities, buying back 517,882 shares during the first half of 2026. Looking ahead, Palmer Square anticipates leveraging its existing credit facilities and investment strategies to navigate market conditions, although it acknowledges potential risks related to interest rate fluctuations and economic uncertainties.
About Palmer Square Capital BDC Inc.
Palmer Square Capital BDC Inc. is a Maryland-based financial services firm specializing in lending to and investing in corporate debt securities of U.S. private and public companies. Its core activities include providing senior secured loans, CLO investments, and structured credit funds. The company focuses on generating total returns through credit analysis, diversified investments, and leveraging structured credit markets, serving institutional investors with a competitive edge in private credit and structured finance.
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