<SEC-DOCUMENT>0000935836-23-000378.txt : 20230502
<SEC-HEADER>0000935836-23-000378.hdr.sgml : 20230502
<ACCEPTANCE-DATETIME>20230502184639
ACCESSION NUMBER:		0000935836-23-000378
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20221130
FILED AS OF DATE:		20230502
DATE AS OF CHANGE:		20230502

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Repertoire Master Fund LP
		CENTRAL INDEX KEY:			0001878549
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	814-00735
		FILM NUMBER:		23881033

	BUSINESS ADDRESS:	
		STREET 1:		345 CALIFORNIA STREET, SUITE 600
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94104
		BUSINESS PHONE:		415-677-7050

	MAIL ADDRESS:	
		STREET 1:		345 CALIFORNIA STREET, SUITE 600
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94104

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Portman Ridge Finance Corp
		CENTRAL INDEX KEY:			0001372807
		IRS NUMBER:				205951150
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		650 MADISON AVNUE
		STREET 2:		23RD FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212.891.2880

	MAIL ADDRESS:	
		STREET 1:		650 MADISON AVNUE
		STREET 2:		23RD FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KCAP Financial, Inc.
		DATE OF NAME CHANGE:	20120710

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Kohlberg Capital CORP
		DATE OF NAME CHANGE:	20061211

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Kohlberg Capital, LLC
		DATE OF NAME CHANGE:	20060815
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
<TEXT>
<XML>
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    <schemaVersion>X0407</schemaVersion>

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    <periodOfReport>2022-11-30</periodOfReport>

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        <issuerName>Portman Ridge Finance Corp</issuerName>
        <issuerTradingSymbol>PTMN</issuerTradingSymbol>
    </issuer>

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            <rptOwnerName>Repertoire Master Fund LP</rptOwnerName>
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            <rptOwnerStreet1>345 CALIFORNIA STREET, SUITE 600</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SAN FRANCISCO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94104</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
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                <transactionAcquiredDisposedCode>
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                <value>Common Stock</value>
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                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
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                <directOrIndirectOwnership>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
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            <securityTitle>
                <value>Common Stock</value>
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                <value>2022-12-09</value>
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            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>300</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>22.05</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
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                <sharesOwnedFollowingTransaction>
                    <value>1117493</value>
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                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2022-12-12</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
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            </transactionCoding>
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            <transactionAmounts>
                <transactionShares>
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    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Equity Swap (Obligation to Buy)</value>
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                <value>22.49</value>
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                <value>2022-11-30</value>
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                <footnoteId id="F1"/>
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            <expirationDate>
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                <underlyingSecurityShares>
                    <value>106</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
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    <footnotes>
        <footnote id="F1">The reporting person entered into an equity swap agreement with a counterparty under which, upon expiration of the 3-year term of the agreement, (1) the reporting person will be obligated to pay to the counterparty the price per share set forth in Column 2 for the notional number of shares of PTMN common stock set forth in Column 7, and (2) the counterparty will be obligated to pay to the reporting person the market value of the notional number of shares of PTMN common stock set forth in Column 7 as of the end of that period. The reporting person will pay to the counterparty monthly interest on the purchase price of the notional shares, at a rate tied to a market index, and the counterparty will pay to the reporting person all dividends and similar distributions paid on an equivalent number of shares of PTMN common stock during the term.</footnote>
    </footnotes>

    <remarks>The transactions in the Issuer's common stock reported herein and in additional Form 4's being filed by the reporting person on this date were matchable under Section 16(b) of the Securities Exchange Act of 1934. Repertoire Master Fund LP has agreed to pay to the Issuer the aggregate profit in the amount of $302,114.78 realized in connection with these transactions.</remarks>

    <ownerSignature>
        <signatureName>/s/ Deepak Sarpangal, Managing Member of the General Partner of Repertoire Master Fund LP</signatureName>
        <signatureDate>2023-05-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
