peshkov I hold several BDCs (business development companies) in my Income Compounder portfolio. Over the past several years, BDCs have performed extremely well due to higher interest rates and a generally strong economy, especially in the US. In fact, according to Raymond James in their BDC weekly insight that tracks the performance of most of the publicly traded BDCs, 5-year total returns have approached 90% for the equal weight RJ BDC Index, exceeding even that of the S&P 500, which has a total return ...

Zerbor Ares Capital: Market-Leading BDC With Scale Ares Capital (NASDAQ:ARCC) investors are likely riding on the higher-for-longer Fed posture with much satisfaction. With a 1Y total return of more than 23%, it has underperformed Main Street Capital's (MAIN) more than 40% total return. Despite that, ARCC's consistency in lifting its NAV per share and well-diversified portfolio should continue to help it perform relatively well. In my previous bullish ARCC article in late March 2024, I highlighted why AR ...

tadamichi Welcome to another installment of our BDC Market Weekly Review, where we discuss market activity in the Business Development Company ("BDC") sector from both the bottom-up - highlighting individual news and events - as well as the top-down - providing an overview of the broader market. We also try to add some historical context as well as relevant themes that look to be driving the market or that investors ought to be mindful of. This update covers the period through the third week of June. Ma ...

Peach_iStock Introduction As income investors, we all have stocks that we favor as a result of their strong income generation. Altria (MO) and Capital Southwest (CSWC) are a couple that come to mind when I think of companies that generate great income for their shareholders. But I also enjoy searching for those with huge potential to do the same in the foreseeable future. Whether they are going through changes in their business model, or are a small-cap company that fly under investor's radar. One BDC t ...

loveguli In this article, we take a look at the BDC Bain Capital Specialty Finance, Inc. (NYSE:BCSF). We recently added the stock to our coverage and the service BDC Tool. BCSF is overweight Aerospace / Defense and High Tech sectors. This is a bit different from the usual Tech / Healthcare sector overweights. BCSF The company is focused on the core middle-market segment with a median EBITDA of $44m. Unlike the upper middle-market segment, occupied by the largest BDCs, borrowers in this segment are, ar ...

Torsten AsmusDecember last year, I wrote an article on Runway Growth Finance (NASDAQ:RWAY), which is a VC-focused BDC. As many of my readers have probably noticed it, I tend to avoid investing in BDCs that carry an elevated exposure towards VC markets. The reason for this is simple - I see no major reason why investors should take additional risk on top of what conventional BDCs offer. It really boils down to capturing roughly 200 - 400 basis points in extra yield, which comes with a huge risk that is a ...

文章核心观点 - 公司在Q1 2024财报中表现出持续的积极势头,各项关键指标如ROE、NAV、投资收益等均创历史新高 [9][10][11][12] - 公司的外部资产管理业务持续为公司贡献稳定的现金流,进一步增强了公司的防御性 [15][16][17] - 公司管理层对未来投资机会和业务发展前景保持乐观态度,预计下半年投资活动将保持强劲 [14] 公司表现总结 - 公司Q1 2024财报显示总投资收益同比增长9.4%,环比增长1.8% [10] - 公司Q1 2024 ROE达到17.2%的历史新高水平 [9] - 公司Q1 2024 NAV和每股NII均创新高,持续保持增长势头 [9][11] - 公司Q1 2024净资产增值2830万美元,每股NAV增加0.34美元 [11] - 公司Q1 2024总投资活动为9200万美元,净增加6700万美元 [13] - 公司Q1 2024外部资产管理业务贡献860万美元收益,同比增长600万美元 [16] - 公司Q1 2024获得390万美元激励费收入,同比增长约18% [16] 公司防御性特点 - 公司债务/EBITDA仅2.6倍,为BDC行业较低水平 [2] - 公司债务/权益仅0.79倍,远低于BDC行业1.15倍的平均水平 [2] - 公司保守的利润分配政策使NAV持续增长,为股息提供额外保障 [3] - 公司外部资产管理业务为公司带来稳定的现金流,降低利率环境变化的影响 [15][17]

PgiamWelcome to another installment of our BDC Market Weekly Review, where we discuss market activity in the Business Development Company ("BDC") sector from both the bottom-up - highlighting individual news and events - as well as the top-down - providing an overview of the broader market. We also try to add some historical context as well as relevant themes that look to be driving the market or that investors ought to be mindful of. This update covers the period through the second week of June. Market ...

IvelinRadkov Introduction There are many high-yielding BDCs that are considered attractive investments because of their lower prices, and higher dividend yields in general. But all that glitters isn't gold. We've all heard that phrase right? Throughout my time here on Seeking Alpha, I've preached the Quality Over Quantity theme and it's something I stand by when in search of new investments. Of course, what I consider to be higher or lower quality may be different to other investors. But hopefully my ar ...

phototechno Capital Southwest (NASDAQ:CSWC) offers passive income investors a growing investment portfolio, a First Lien-focus, a well-covered 10% dividend yield and dividend upside. The business development company easily covered its dividend with net investment income in the first quarter, and I think that investors are going to see hikes in the regular dividend in 2024. Though Capital Southwest is selling for a rather high premium to net asset value, the First Lien-focus, the company’s strong history ...