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FSK Q2 2026 non-accrual rate increases >50bps vs Q1

Will FSK's Q2 2026 reported non-accrual rate increase more than 50 basis points vs Q1 2026?

EHIQ

60%

(50-70%)

Market

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Edge

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Thesis

FSK is in the EMJ Capital short book (puts) on the Pebbles thesis. The cross-fund holdings map from Pebbles II identified FSK as overlapping with multiple stress-cohort names. Q2 print should show non-accrual deterioration consistent with the broader BDC cohort trajectory.

Opened

June 7, 2026

Expected resolution

August 31, 2026