Portman Ridge Finance Corp (PTMN)

Market Cap: $171M

About: Portman Ridge Finance Corp Inc is a non-diversified closed-end investment company. The company originates, structures, and invests in secured term loans, bonds or notes, and mezzanine debt primarily in privately-held middle market companies but may also invest in other investments such as loans to publicly traded companies, high-yield bonds, and distressed debt securities. The company's investment objective in the Debt securities portfolio is to generate current income and, to a lesser extent, capital appreciation from the investments in senior secured term loans, mezzanine debt, and selected equity investments in privately-held middle market companies.

Employees: 13

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

33% more repeat investments, than reductions

Existing positions increased: 16 | Existing positions reduced: 12

29% more first-time investments, than exits

New positions opened: 9 | Existing positions closed: 7

21% more call options, than puts

Call options by funds: $240K | Put options by funds: $198K

5% more funds holding

Funds holding: 42 [Q1] → 44 (+2) [Q2]

0% more funds holding in top 10

Funds holding in top 10: 1 [Q1] → 1 (+0) [Q2]

2.99% less ownership

Funds ownership: 24.86% [Q1] → 21.87% (-2.99%) [Q2]

9% less capital invested

Capital invested by funds: $44.1M [Q1] → $39.9M (-$4.13M) [Q2]