A floating barrel nut may be used to retain a nut in a seat of a segmented cylindrical slug. In one embodiment, the barrel nut according to this disclosure may comprise: a nut with a threaded shaft and a flange that is chamfered on its lower end; a cylindrical slug that has been segmented along a plane that is parallel to the cylindrical axis, said slug having a head and a foot; two pins; wherein said nut is configured to float between the head and foot of the slug; wherein said shaft features an indentation on opposite sides thereof; and, wherein said pins are attached to the head and foot of the slug and sit in the indentations of the shaft. In another embodiment the pins are bent around the shaft.