Crowding: 9% of book in names held by 3+ tracked funds · 9 of 59 names · Issuers are matched on normalised name (~10% measured error each way), so crowding and overlap figures are floors. How this is measured → · full readout →

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Ranked by holdings overlap blended with size, leverage, yield and fee profile within the same asset class.

Issuers are matched on normalised name (~10% measured error each way), so crowding and overlap figures are floors. How this is measured →

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Palmer Square Capital BDC Inc. profile-based only, no holdings overlap	81% similarƒ
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Portfolio

118 positions as of 2026-03-31 · Schedule of Investments (SEC BDC Data Sets).

✓ Reconciled — ties to the fund's reported total investments within 10% (108%).

118 holdings

Company	Fair value	Weight
Flatworld Intermediate Corporation	$40M	4.5%
Ickler Electric Corporation	$38M	4.3%
160 Driving Academy (a/k/a Rock Gate Capital, LLC)	$37M	4.1%
Tyler Distribution Centers LLC	$32M	3.6%
Dance Nation Holdings LLC	$30M	3.4%
Core Capital Partners II-S LP	$28M	3.2%
Best Friends Pet Care Holdings Inc.	$24M	2.7%
truCurrent LLC	$22M	2.5%
Xpect Solutions, LLC	$22M	2.5%
Rotolo Consultants, Inc.	$20M	2.3%
Salt Dental Collective LLC	$18M	2.0%
CentralBDC Enterprises, LLC	$17M	1.9%
Direct Digital Holdings, LLC	$16M	1.9%
Johnsoncomm LLC	$16M	1.8%
Best Friends Pet Care Holdings Inc.	$16M	1.8%
Med Learning Group, LLC	$15M	1.7%
Soapy Joe's Midco OC Holdings LLC	$15M	1.7%
Synergi, LLC	$15M	1.7%
Arrowhead Capital Group LLC	$15M	1.7%
C Speed LLC	$15M	1.7%
OWP International LLC	$15M	1.7%
Ally Medical Holdings, LLC	$15M	1.6%
Liberty Lenwich Holdings LLC	$14M	1.6%
National CarbonTechnologies California, LLC	$14M	1.6%
Zero Waste Recycling LLC	$13M	1.4%
truCurrent LLC	$13M	1.4%
Electro Technical Industries, LLC	$12M	1.4%
Straine Dental Management, LLC	$12M	1.3%
ZRG Partners LLC	$11M	1.3%
LC Hospitality, LLC	$10M	1.2%
TEC Services LLC	$10M	1.1%
Genuine Food Lab LLC	$10M	1.1%
Ironhorse Purchaser, LLC	$10M	1.1%
NW1LS Co-invest LP	$10M	1.1%
NW1LS Co-invest LP	$10M	1.1%
MSPB Mso, LLC	$10M	1.1%
Direct Digital Holdings, LLC	$10M	1.1%
Direct Digital Holdings, LLC	$9M	1.0%
SMG Operating Company, LLC	$8M	1.0%
MSPB Mso, LLC	$8M	0.9%
C Speed LLC	$8M	0.9%
Lafayette Square SBLC, LLC	$8M	0.9%
Lafayette Square SBLC, LLC	$8M	0.9%
Prime IV Hydration & Wellness Inc.	$8M	0.9%
Neighborhood Grocery Catalyst Fund LLC	$8M	0.9%
Neighborhood Grocery Catalyst Fund LLC	$8M	0.9%
Xpect Solutions, LLC	$7M	0.8%
ZRG Partners LLC	$5M	0.6%
Core Capital Partners II-S LP	$5M	0.6%
Rotolo Consultants, Inc.	$5M	0.6%
MSPB Mso, LLC	$5M	0.6%
IVM GK9 Holdings LLC	$5M	0.6%
IVM GK9 Holdings LLC	$5M	0.6%
Zero Waste Recycling LLC	$5M	0.6%
DRS Imaging Services LLC	$5M	0.5%
Lafayette Square Technologies, LLC	$5M	0.5%
Lafayette Square Technologies, LLC	$5M	0.5%
Truly Redlands LLC	$5M	0.5%
Truly Redlands LLC.	$5M	0.5%
Med Learning Group, LLC	$4M	0.5%
DRS Imaging Services LLC	$4M	0.5%
Direct Digital Holdings, LLC	$4M	0.5%
LSA Affordable Housing LP	$4M	0.4%
LSA Affordable Housing LP	$4M	0.4%
Patti's Good Life LLC	$3M	0.4%
Patti's Good Life LLC	$3M	0.4%
CentralBDC Enterprises, LLC	$3M	0.4%
Standard Real Estate Investments LP	$3M	0.3%
GELDO Inc.	$3M	0.3%
GELDO Inc.	$3M	0.3%
Liberty Top Holdings, LLC	$3M	0.3%
Liberty Top Holdings, LLC	$3M	0.3%
Puris LLC	$3M	0.3%
SHaD Momentum LLC	$3M	0.3%
SHaD Momentum LLC	$3M	0.3%
3360 Frankford LLC	$2M	0.3%
3360 Frankford LLC	$2M	0.3%
ZRG Partners LLC	$2M	0.2%
Standard Real Estate Investments LP	$2M	0.2%
Sparrow Rock, Inc.	$2M	0.2%
Sparrow Rock, Inc.	$2M	0.2%
ZWR Holdings, Inc.	$2M	0.2%
Worker Solutions LLC	$2M	0.2%
Worker Solutions LLC	$2M	0.2%
160 Driving Academy (a/k/a Rock Gate Capital, LLC)	$2M	0.2%
Ickler Electric Corporation	$2M	0.2%
Oakwell Holding LLC	$2M	0.2%
Studio Lafayette, LLC	$2M	0.2%
Studio Lafayette, LLC.	$2M	0.2%
Dance Nation Topco LLC	$1M	0.2%
Rotolo Consultants, Inc.	$1M	0.2%
160 Driving Academy (a/k/a Rock Gate Capital, LLC)	$1M	0.2%
Lafayette Square Mortgage Solutions, LLC	$1M	0.1%
Lafayette Square Mortgage Solutions, LLC	$1M	0.1%
160 Driving Academy (a/k/a Rock Gate Capital, LLC)	$1M	0.1%
OWP International LLC	$1M	0.1%
160 Driving Academy (a/k/a Rock Gate Capital, LLC)	$1M	0.1%
160 Driving Academy (a/k/a Rock Gate Capital, LLC)	$1M	0.1%
160 Driving Academy (a/k/a Rock Gate Capital, LLC)	$1M	0.1%
160 Driving Academy (a/k/a Rock Gate Capital, LLC)	$1M	0.1%
Aetius Holdings, LLC	$1M	0.1%
160 Driving Academy (a/k/a Rock Gate Capital, LLC)	$1M	0.1%
160 Driving Academy (a/k/a Rock Gate Capital, LLC)	$1M	0.1%
160 Driving Academy (a/k/a Rock Gate Capital, LLC)	$1M	0.1%
Direct Digital Holdings, LLC	$1M	0.1%
Capital City LLC	$1M	0.1%
Akoma Capital Advisory LLC	$1M	0.1%
Puris LLC	$1M	0.1%
160 Driving Academy (a/k/a Rock Gate Capital, LLC)	$1M	0.1%
Direct Digital Holdings, LLC	$1M	0.1%
Capital City LLC	$0M	0.1%
160 Driving Academy (a/k/a Rock Gate Capital, LLC)	$0M	0.0%
OWP International LLC	$0M	0.0%
Synergi, LLC	$0M	0.0%
Trilon Group, LLC	$0M	0.0%
Straine Dental Management, LLC	$0M	0.0%
Patti's Good Life LLC	$0M	0.0%
Patti's Good Life LLC	$0M	0.0%

Asset categories (by fair value)

First lien senior secured loan80.2%

Other7.3%

Equity6.3%

Preferred Equity4.0%

Preferred equity1.7%

Subordinated debt0.4%

Crowding: 9% of book in names held by 3+ funds · 71% sole-holder

9 names held by 3+ funds · 47 sole-holder · Issuers are matched on normalised name (~10% measured error each way), so crowding and overlap figures are floors. How this is measured →

Source: AltsVault · SEC filings

see which of these names are crowded →

Credit marks

Fair value against cost across this fund's filed Schedule of Investments — read off the marks the filer itself reported, not a rating.

1.00× cost

FV-weighted average · median 1.00×

Over 80 debt positions, $716M at fair value · 0 trimmed, 38 excluded (equity or no usable cost).

Marked below cost

Below 95¢ of cost7% · $48M of $716M

Below 90¢ of cost7% · $48M of $716M

Below 85¢ of cost5% · $37M of $716M

Seniority mix — of stated fair value

seniority classified on 93% of the book ($822M of $886M)

First lien (explicit lien wording only — a floor)86% · $711M

Second lien0% · $0M

Other debt1% · $5M

Equity & warrants13% · $106M

Debt positions are identified by a filed principal amount — a proxy measured 82% precise against positions that also state an instrument (18% carry an equity-side label instead). Marks outside 0.01×–2.00× of cost are held out of the aggregates above as extraction artifacts, not credit opinion.

Source: AltsVault · SEC filings · as of 2026-03-31

Lafayette Square USA, Inc.

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Portfolio

Credit marks

Metrics

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Portfolio

Credit marks

Metrics