The Pegasus Toroidal Experiment ͓R. Fonck et al., Bull. Am. Phys. Soc. 41, 1400 ͑1996͔͒ is a spherical torus designed to study the limits of plasma behavior as the aspect ratio A approaches unity. Access to near-unity A is achieved through the use of a novel high-stress reinforced solenoid magnet. High toroidal beta  t is obtained in ohmically-heated plasmas by operation at low field with densities up to the Greenwald limit. Values of  t up to 20% and normalized beta up to 5 have been obtained. The ratio of plasma current to toroidal field rod current, known as the toroidal field utilization, reaches values as large as 1 but appears to approach a ''soft'' boundary at that level related to both ohmic flux limitations and the onset of resistive magnetohydrodynamic ͑MHD͒ activity. The m/nϭ2/1 and 3/2 modes are most frequently observed, in agreement with the inferred safety factor profiles. Experiments are beginning to access the external kink stability boundary at edge safety factor q 95 ϭ5, which is significantly higher than that observed in conventional tokamaks. Calculations using the DCON code ͓A. H. Glasser and M. S. Chance, Bull. Am. Phys. Soc. 42, 1848 ͑1997͔͒ confirm instability to the ideal kink.