0001752724-24-263767.txt : 20241122 0001752724-24-263767.hdr.sgml : 20241122 20241122132736 ACCESSION NUMBER: 0001752724-24-263767 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240930 FILED AS OF DATE: 20241122 DATE AS OF CHANGE: 20241122 PERIOD START: 20241231 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Pearl Diver Credit Co Inc. CENTRAL INDEX KEY: 0001998043 ORGANIZATION NAME: IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-23912 FILM NUMBER: 241488604 BUSINESS ADDRESS: STREET 1: 747 THIRD AVENUE STREET 2: SUITE 3603 CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 44 207 967 8033 MAIL ADDRESS: STREET 1: 747 THIRD AVENUE STREET 2: SUITE 3603 CITY: NEW YORK STATE: NY ZIP: 10017 FORMER COMPANY: FORMER CONFORMED NAME: Pearl Diver Credit Company, LLC DATE OF NAME CHANGE: 20231018 NPORT-P 1 primary_doc.xml NPORT-P false 0001998043 XXXXXXXX Pearl Diver Credit Company Inc. 811-23912 0001998043 213800HEGMDL5QM8DW11 747 THIRD AVENUE SUITE 3603 NEW YORK 10017 44 207 967 8033 Pearl Diver Credit Company Inc. 213800HEGMDL5QM8DW11 2024-12-31 2024-09-30 N 137587303.67 1316840.79 136270462.88 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 3389434.41000000 N ALM VII(R) Ltd. 549300RLLUH00ZYECJ34 ALM VII R LTD 0.000%, SERIES 144A 00163J200 8042000.00000000 PA USD 2540741.23000000 1.864484185569 Long ABS-O CORP KY Y 2 N N N American Money Management Corporation N/A AMMC CLO 24, Ltd. 00177MAB4 5750000.00000000 PA USD 3889875.00000000 2.854525417900 Long ABS-O CORP KY Y 2 N N N Anchorage Capital Clo Ltd 54930014PVHLSZJQK139 Anchorage Capital CLO 7, Ltd. 03328UAE2 12000000.00000000 PA USD 3829200.00000000 2.809999994915 Long ABS-O CORP KY Y 2 N N N Ares Clo Ltd N/A Ares LXIII CLO, Ltd. 039938AC9 2000000.00000000 PA USD 1651000.00000000 1.211561159408 Long ABS-O CORP KY Y 2 N N N Ares Clo Ltd 5493005YAOTYJUJV3S58 Ares XXXIX CLO, Ltd. 04016BAC3 6246752.00000000 PA USD 2832902.03000000 2.078881930924 Long ABS-O CORP KY Y 2 N N N Ares Clo Ltd N/A Ares LIX CLO, Ltd. 04018GAC0 3500000.00000000 PA USD 2371950.00000000 1.740619316813 Long ABS-O CORP KY Y 2 N N N Ares Clo Ltd N/A Ares LXIV CLO, Ltd. 04019NAC4 5072177.00000000 PA USD 3877187.32000000 2.845214757518 Long ABS-O CORP KY Y 2 N N N Ares Clo Ltd N/A ARES Loan Funding III, Ltd. 04019PAC9 4000000.00000000 PA USD 3817200.00000000 2.801193978009 Long ABS-O CORP KY Y 2 N N N Balboa Bay Loan Funding Ltd 549300G0EX8VHFWPJW18 Balboa Bay Loan Funding 2021-1, Ltd. 05765YAC3 2626500.00000000 PA USD 1341090.90000000 0.984139094897 Long ABS-O CORP KY Y 2 N N N BENEFIT STREET PARTNERS CLO XXIII LTD N/A BSP 2021-23A SUB 08186XAC0 5000000.00000000 PA USD 3630000.00000000 2.663820114265 Long ABS-O CORP US Y 2 N N N Bluemountain Clo Ltd N/A BlueMountain CLO XXXII, Ltd. 09631FAC8 6400548.00000000 PA USD 3750081.07000000 2.751939775314 Long ABS-O CORP KY Y 2 N N N BLUEMOUNTAIN CLO XXXV LTD N/A BLUEM 2022-35A SUB 09631TAE4 4500000.00000000 PA USD 2884500.00000000 2.116746313938 Long ABS-O CORP US Y 2 N N N Cifc Funding Ltd 549300ZXX0SJBZWIWI81 CIFC Funding 2015-IV, Ltd. 12550VAE0 10000000.00000000 PA USD 3678000.00000000 2.699044181892 Long ABS-O CORP KY Y 2 N N N Elmwood Clo 18 Ltd N/A Elmwood CLO 18, Ltd. 29003QAE8 6000000.00000000 PA USD 4114200.00000000 3.019142896449 Long ABS-O CORP KY Y 2 N N N Generate Clo Ltd. 549300LO5FP76OLGQK93 Generate Clo 11, Ltd. 37149JAC6 5000000.00000000 PA USD 4333500.00000000 3.180072855418 Long ABS-O CORP KY Y 2 N N N Generate Clo Ltd. N/A Generate CLO 14, Ltd. 37149TAC4 4000000.00000000 PA USD 3295200.00000000 2.418132242569 Long ABS-O CORP KY Y 2 N N N Hps Loan Management Ltd N/A HPS Loan Management 2021-16, Ltd. 40441AAC4 1800000.00000000 PA USD 1028700.00000000 0.754895799323 Long ABS-O CORP KY Y 2 N N N Harvest Us Clo Ltd 213800RQBB83K4W6BX61 Harvest US CLO 2024-1, Ltd. 41755XAC2 7437582.00000000 PA USD 5414559.70000000 3.973392021694 Long ABS-O CORP KY Y 2 N N N Harvest Us Clo Ltd N/A Harvest US CLO 2024-2, Ltd. 41756XAC1 5000000.00000000 PA USD 4249500.00000000 3.118430737071 Long ABS-O CORP KY Y 3 N N N Icg Us Clo Ltd 254900UXTGDH0QOBDH07 ICG US Clo 2020-1, Ltd. 449252AC9 5300000.00000000 PA USD 1565090.00000000 1.148517416704 Long ABS-O CORP KY Y 2 N N N Lcm Ltd Partnership N/A LCM 39, Ltd. 50204RAA7 7675000.00000000 PA USD 6252055.00000000 4.587975169281 Long ABS-O CORP JE Y 2 N N N Marble Point Clo Xxi Ltd. N/A Marble Point CLO XXI, Ltd. 56606TAB2 3800000.00000000 PA USD 1815260.00000000 1.332100854165 Long ABS-O CORP KY Y 2 N N N Apex Credit Clo Llc 254900H6CNZLCIDMYC58 Apex Credit CLO 2021-II LLC 58406DAC3 3450000.00000000 PA USD 1876455.00000000 1.377007871215 Long ABS-O CORP KY Y 2 N N N Ocp Clo Ltd N/A OCP CLO 2023-26, Ltd. 67351PAE8 4250.00000000 NS USD 3503700.00000000 2.571136786322 Long ABS-O CORP JE Y 2 N N N Oaktree Clo Ltd N/A Oaktree CLO 2021-2, Ltd. 67389CAC7 5000000.00000000 PA USD 3357000.00000000 2.463483229638 Long ABS-O CORP KY Y 2 N N N OAKTREE CLO 2019-3 LTD N/A OAKCL 2019-3A SUB 67400GAC3 6000000.00000000 PA USD 3523200.00000000 2.585446563796 Long ABS-O CORP US Y 2 N N N Ppm Clo, Ltd. N/A PPM CLO 5, Ltd. 69356VAC0 10000000.00000000 PA USD 4970000.00000000 3.647158668842 Long ABS-O CORP KY Y 2 N N N Rr Ltd 549300RJ4N2AJDFNE876 RR 19, Ltd. 74983BAC5 6500000.00000000 PA USD 4935450.00000000 3.621804678498 Long ABS-O CORP KY Y 2 N N N Rr Ltd N/A RR 20, Ltd. 74989TAC0 3600000.00000000 PA USD 2629440.00000000 1.929574424587 Long ABS-O CORP BM Y 2 N N N Regatta Xxii Funding Ltd. N/A Regatta XXII Funding, Ltd. 758969AC3 1250000.00000000 PA USD 1054000.00000000 0.773461818301 Long ABS-O CORP KY Y 2 N N N Rockford Tower Clo Ltd 5493000QG193Z8ZVLY16 Rockford Tower CLO 2021-1, Ltd. 77341JAC8 1000000.00000000 PA USD 570900.00000000 0.418946254334 Long ABS-O CORP KY Y 2 N N N Rr Ltd N/A RR 23, Ltd. 78111FAE8 5000000.00000000 PA USD 2983000.00000000 2.189029036047 Long ABS-O CORP BM Y 2 N N N Shackleton Clo Ltd 549300HOHPZON6E4VH77 Shackleton 2019-XIV Clo, Ltd. 81880YAC4 3000000.00000000 PA USD 2123700.00000000 1.558444842056 Long ABS-O CORP KY Y 2 N N N 37 Capital Clo Ltd 54930051RXN9JV692N02 37 Capital CLO II 88429NAC1 7849885.00000000 PA USD 5519254.14000000 4.050220439083 Long ABS-O CORP JE Y 2 N N N 37 Capital Clo Ltd 549300GZ8MP9ZGVMJ424 37 Capital Clo 1, Ltd. 88430QAC1 8500000.00000000 PA USD 4746400.00000000 3.483073220481 Long ABS-O CORP KY Y 2 N N N Vibrant Clo Ltd 5493000EYXBYKZ0XIT83 Vibrant CLO XIII, Ltd. 92557CAC1 5000000.00000000 PA USD 3121500.00000000 2.290665147845 Long ABS-O CORP KY Y 2 N N N Regatta Xix Funding Ltd N/A Regatta XIX Funding, Ltd. 75888CAE2 7653000.00000000 PA USD 6482856.30000000 4.757345181771 Long ABS-O CORP KY Y 2 N N N Rr Ltd 549300RJ4N2AJDFNE876 RR 19, Ltd. G7711BAB9 742000.00000000 PA USD 563400.60000000 0.413442934068 Long ABS-O CORP KY Y 2 N N N Vibrant Clo Ltd N/A Vibrant CLO, Ltd. G9470HAB3 3000000.00000000 PA USD 1685100.00000000 1.236584924118 Long ABS-O CORP KY Y 2 N N N Tcw Gem Ltd N/A TCW CLO 2024-2, Ltd. 87252HAC8 6050000.00000000 PA USD 5152180.00000000 3.780848682180 Long ABS-O CORP KY Y 2 N N N Bain Capital Credit Clo, Limited 254900SOM2S14IE3BZ76 Bain Capital Credit CLO 2024-3, Ltd. 05685UAC8 3790000.00000000 PA USD 3097567.00000000 2.273102280959 Long ABS-O CORP KY Y 2 N N N 2024-10-30 Pearl Diver Credit Company Inc. Echo Chan Echo Chan Senior Operations Director XXXX NPORT-EX 2 fp0091130-1_nportex.htm

 

 

Pearl Diver Credit Company Inc.                      
Schedule of Investments (UNAUDITED)                   
9/30/2024                      
(Expressed in United States Dollars)                      
Issuer  Investment  Acquisition Date(1)   Principal  Amount   Cost   Fair Value   Percentage of Net Assets
Investments at Fair Value(2)                      
Collateralized Loan Obligations - Equity - 98.38%(3)                       
United States(4)                          
37 Capital CLO I, Ltd.  Subordinated Note (effective yield
14.12%, maturity 10/16/2034)		   10/26/2023   $8,500,000   $5,525,390   $4,746,400    3.48%
37 Capital CLO II, Ltd.  Subordinated Note (effective yield
19.13%, maturity 7/17/2034)		   9/20/2024    7,849,885    5,171,167    5,519,254    4.05%
AMMC CLO 24, Ltd.  Subordinated Note (effective yield
16.31%, maturity 1/22/2035)		   8/17/2023    5,750,000    4,055,537    3,889,875    2.85%
Anchorage Capital CLO 7, Ltd.  Subordinated Note (effective yield
12.47%, maturity 4/28/2037)		   8/20/2024    12,000,000    3,764,987    3,829,200    2.81%
Apex Credit CLO 2021-II LLC  Subordinated Note (effective yield
27.22%, maturity 10/20/2034)		   11/22/2023    3,450,000    1,633,594    1,876,455    1.38%
ARES LIX CLO, Ltd.  Subordinated Note (effective yield
19.85%, maturity 4/25/2034)		   10/31/2023    3,500,000    2,039,047    2,371,950    1.74%
ARES Loan Funding III, Ltd.  Subordinated Note (effective yield
29.52%, maturity 7/25/2036)		   10/31/2023    4,000,000    2,371,845    3,817,200    2.80%
ARES LXIII CLO, Ltd.  Subordinated Note (effective yield
19.86%, maturity 4/20/2035)		   10/26/2023    2,000,000    1,405,275    1,651,000    1.21%
ARES LXIV CLO, Ltd.  Subordinated Note (effective yield
13.90%, maturity 10/24/2039)		   8/8/2024    5,072,177    3,522,020    3,877,187    2.85%
ARES XXXIX CLO, Ltd.  Subordinated Note (effective yield
15.23%, maturity 7/20/2037)		   9/6/2024    6,246,752    2,761,713    2,832,902    2.08%
Bain Capital Credit CLO 2024-3, Ltd.  Subordinated Note (effective yield
12.20%, maturity 7/16/2037)		   8/29/2024    3,790,000    2,956,581    3,097,567    2.27%
Balboa Bay Loan Funding 2021-1, Ltd.  Subordinated Note (effective yield
17.83%, maturity 7/20/2034)		   8/6/2024    2,626,500    1,284,341    1,341,091    0.98%
BlueMountain 2022-35A SUB  Subordinated Note (effective yield
14.48%, maturity 10/22/2037)		   1/24/2024    4,500,000    3,115,032    2,884,500    2.12%
BlueMountain CLO XXXII, Ltd.  Subordinated Note (effective yield
12.82%, maturity 10/16/2034)		   9/19/2023    6,400,548    4,145,661    3,750,081    2.75%
BSP 2021-23A SUB  Subordinated Note (effective yield
11.44%, maturity 4/25/2034)		   11/7/2023    5,000,000    3,972,000    3,630,000    2.66%
CIFC Funding 2015-IV, Ltd.  Subordinated Note (effective yield
15.30%, maturity 4/20/2034)		   7/26/2023    10,000,000    3,613,172    3,678,000    2.70%
Elmwood CLO 18, Ltd.  Subordinated Note (effective yield
25.95%, maturity 7/17/2037)		   10/31/2023    6,000,000    2,682,334    4,114,200    3.02%
Generate CLO 11, Ltd.  Subordinated Note (effective yield
24.65%, maturity 10/20/2037)		   11/7/2023    5,000,000    3,618,790    4,333,500    3.18%
Generate CLO 14, Ltd.  Subordinated Note (effective yield
13.27%, maturity 4/22/2037)		   7/24/2024    4,000,000    3,355,902    3,295,200    2.42%
Harvest US CLO 2024-1, Ltd.  Subordinated Note (effective yield
14.51%, maturity 4/20/2037)		   7/25/2024    7,437,582    5,443,077    5,414,560    3.97%
Harvest US CLO 2024-2, Ltd.(  Subordinated Note (effective yield
12.41%, maturity 10/15/2037)		   8/1/2024    5,000,000    4,192,105    4,249,500    3.12%
HPS Loan Management 2021-16, Ltd.  Subordinated Note (effective yield
11.31%, maturity 1/23/2035)		   11/20/2023    1,800,000    1,125,539    1,028,700    0.76%
ICG US Clo 2020-1, Ltd.  Subordinated Note (effective yield
5.87%, maturity 1/22/2035)		   7/20/2023    5,300,000    2,603,166    1,565,090    1.15%
LCM 39, Ltd.  Income Note (effective yield
13.90%, maturity 10/16/2034)		   7/25/2023    7,675,000    5,430,047    6,252,055    4.59%
Marble Point CLO XXI, Ltd.  Subordinated Note (effective yield
14.91%, maturity 10/17/2034)		   3/14/2024    3,800,000    2,038,875    1,815,260    1.33%
Oaktree 2019-3A SUB  Subordinated Note (effective yield
17.99%, maturity 10/20/2034)		   11/8/2023    6,000,000    3,494,851    3,523,200    2.59%
Oaktree CLO 2021-2, Ltd.  Subordinated Note (effective yield
15.11%, maturity 1/16/2035)		   7/28/2023    5,000,000    3,542,725    3,357,000    2.46%
OCP CLO 2023-26, Ltd.  Subordinated Note (effective yield
7.81%, maturity 4/17/2036)		   11/14/2023    4,250,000    2,999,845    3,503,700    2.57%
PPM CLO 5, Ltd.  Subordinated Note (effective yield
14.67%, maturity 10/18/2034)		   8/2/2024    10,000,000    5,833,623    4,970,000    3.65%
Regatta XIX Funding, Ltd.  Subordinated Note (effective yield
14.67%, maturity 4/20/2035)		   9/11/2024    7,653,000    6,281,466    6,482,856    4.76%
Regatta XXII Funding, Ltd.  Subordinated Note (effective yield
11.95%, maturity 7/20/2035)		   9/29/2023    1,250,000    1,039,302    1,054,000    0.77%
Rockford Tower CLO 2021-1, Ltd.  Subordinated Note (effective yield
8.70%, maturity 7/20/2034)		   9/18/2023    1,000,000    720,584    570,900    0.42%
RR 12, Ltd.  Subordinated Note (effective yield
14.71%, maturity 1/15/2036)		   7/30/2024    8,042,000    2,533,064    2,540,741    1.86%
RR 19, Ltd.  Subordinated Note (effective yield
10.78%, maturity 10/15/2035)		   7/27/2023    7,242,000    5,769,804    5,498,851    4.04%
RR 20, Ltd.  Subordinated Note (effective yield
8.67%, maturity 7/15/2037)		   8/8/2023    3,600,000    2,964,159    2,629,440    1.93%
RR 23, Ltd.  Subordinated Note (effective yield
10.74%, maturity 10/15/2035)		   10/5/2023    5,000,000    3,050,452    2,983,000    2.19%
Shackleton 2019-XIV CLO, Ltd.  Subordinated Note (effective yield
12.97%, maturity 7/20/2034)		   2/1/2024    3,000,000    2,242,900    2,123,700    1.56%
TCW CLO 2024-2, Ltd.  Subordinated Note (effective yield
14.30%, maturity 7/17/2037)		   7/12/2024    6,050,000    4,841,681    5,152,180    3.78%
Vibrant CLO XIII, Ltd.  Subordinated Note (effective yield
15.95%, maturity 7/17/2034)		   8/25/2023    5,000,000    3,026,450    3,121,500    2.29%
Vibrant CLO, Ltd.  Subordinated Note (effective yield
14.07%, maturity 10/20/2034)		   1/23/2024    3,000,000    1,795,802    1,685,100    1.24%
Total Collateralized Loan Obligations - Equity            $131,963,905   $134,056,895    
                           
Total Investments - 98.38%               $131,963,905   $134,056,895    
Other Assets in Excess of Liabilities -  1.62%                  2,213,568    
Net Assets - 100.00%                    $136,270,463    

 

(1) Acquisition date represents the initial purchase date of investment.
(2) The fair value of CLO equity investments are classified as Level II investments.
(3) All securities exempt from registration under the Securities Act of 1933, as amended and are deemed to be “restricted securities”.
(4) Country represents the principal country of risk where the investment has exposure.