PFLT net income surges to $28.7M (+2246%) on non-operating factors as portfolio yield falls 70bp

Filed May 7, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 12, 2025 · ~2 min read

Key Changes

• high

  Net income jumped to $28.7M from $1.2M a year earlier (+2246%), driven by below-the-line items; operating income and portfolio yield both declined, signaling the gain did not come from core lending operations.

  MD&A: Financial Results verify on EDGAR →
• high

  Formed PSSL II joint venture with Hamilton Lane ($150M commitment), sold $534M of assets to PSSL/PSSL II in six months, and consolidated PTSF's $250M portfolio after winding down the partnership.

  MD&A: Joint Ventures & Notes verify on EDGAR →
• high

  Weighted average yield on debt investments fell 70 basis points to 9.8% from 10.5%, reflecting lower-rate environment and shift to joint-venture holdings yielding 9.5% (PSSL) and 8.9% (PSSL II).

  MD&A: Portfolio Composition verify on EDGAR →