Pearl Diver Credit Company Series A Preferred (PDPA)
Fixed-rate term preferred backed by a portfolio of CLO equity and mezzanine tranches.
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Invests primarily in equity and mezzanine tranches of third-party CLOs backed by U.S. corporate leveraged loans, earning income from their cash flows. Its Series A is a fixed-rate, monthly-paying term preferred claim supported by the fund's portfolio and asset-coverage compliance.
Invests primarily in equity and mezzanine tranches of third-party collateralized loan obligations backed by U.S. corporate leveraged loans. The closed-end fund earns investment income from residual and junior CLO cash flows and may allocate between newly issued and secondary-market securities.
Combines Pearl Diver Capital's manager selection, structural analysis, fundamental loan research, and data tools to assess CLOs. The adviser shifts between primary and secondary markets and favors structures with covenant cushions, reinvestment flexibility, and terms aligned with CLO equity holders.
Operates as an externally managed, non-diversified registered investment company with one investment segment. Underlying loan defaults or failed CLO coverage tests can divert cash away from equity and junior tranches. The Series A Preferred pays fixed monthly dividends and is subject to mandatory redemption and statutory asset-coverage rules.
Company facts
Categories
No analyst consensus on record.
Not reported.
Balance sheet, Dec 31, 2025Cash & short-term investments $99.7K · Total debt $6.9M · Total assets $141.3M · Shareholders' equity $98.6M
- Revenue
- $1.9M
- Operating income
- $0
- Net income
- $8.5M
Last cut to $0.1667 from $0.2389 in Feb 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Nov 16, 2026 | Nov 16 | Nov 30 | $0.1667 | upcoming |
| Oct 16, 2026 | Oct 16 | Oct 30 | $0.1667 | upcoming |
| Sep 16, 2026 | Sep 16 | Sep 30 | $0.1667 | upcoming |
| Aug 17, 2026 | Aug 17 | Aug 31 | $0.1667 | |
| Jul 17, 2026 | Jul 17 | Jul 31 | $0.1667 | |
| Jun 16, 2026 | Jun 16 | Jun 30 | $0.1667 | |
| May 15, 2026 | May 15 | May 29 | $0.1667 | |
| Apr 16, 2026 | Apr 16 | Apr 30 | $0.1667 | |
| Mar 17, 2026 | Mar 17 | Mar 31 | $0.1667 | |
| Feb 13, 2026 | Feb 13 | Feb 27 | $0.1667 | |
| Jan 16, 2026 | Jan 16 | Jan 30 | $0.1667 |
| Strategic holders1 holder · as of Apr 22, 2025 | — | 1.46M shares |
No reliable share count is available for this listing, so stakes are shown as shares, not percentages.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Evidence |
|---|---|---|---|
University of Wisconsin FoundationStrategic10 percent owner | — | 1.46M | Form 4filed Apr 22, 2025 ↗ |
Echo ChanInsiderofficer: Vice President | — | 0 | Form 4filed May 21, 2026 ↗ |
Form 4 — an insider's transaction report
Insider tradesForm 4
Nothing filed in the last 12 months.
Not reported.