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BDC Stats 4-29-16 -- The Difference Between Good And Bad Investing In 2016

I can tell that there are those 'out there' who have failed to harvest the lessons I share in the data. The historical record is clear: (1) never buy an uncovered dividend and (2) never buy a falling NAV. In this specific environment, "buying the least falling NAV" would be a needed amendment to rule two. But the idea stays the same.

This message shows the YTD spreadsheet in three parts - First for the full sector; Second, for those BDCs with better coverage and NAV performance; Third, for those BDCs with the worst coverage and NAV performance. I should note that there are other key metrics one should use to determine what 'good' is than the two used here. 'Good' BDCs can sell at valuations that are too high. 'Bad' BDCs can sell at valuations that are too low.

BDCs 4-29-16

Yield in the spreadsheet below is based on the Q1-16 'regular' dividend. Spreadsheet header abbreviations: Div = dividend; EPS = earnings per share; LTM = last twelve months; YTD = year to date. The dividend to EPS ratio is a measure of dividend safety. Due to calendar and fiscal years failing to overlap, I also include a dividend to the sum of the last four quarters of NII - in the Div/NIIltm column. After the Price/NAV ratio, the next column displays the percent change in price YTD. The next display price change plus YTD dividends accrued on the payment date - not the earned date. For the last four columns - the first measures the percentage change in the 2016 EPS projection since the beginning of the year; the second measures the change in the price target since the beginning of the year; the third measures the change in the Q1-16 dividend from the Q1-15 dividend; and the last measures the change in NAV between Q4-15 and Q4-14. Special dividends are not included in this data. ARCC, FDUS, MAIN and TCPC have paid special dividends on a near regular schedule.

    Share Price   Div/ Div/ Div/ Div/ Q4-15 Price YTD Percent Change LTM % LTM %
______The_Company_name_and_stock_ticker______ 1-01 04-29 Yield EPS16 EPS17 NIIltm NAV NAV NAV Price Pr+Div EPS Target DivChng NAVChng
Alcentra Capital Corporation (NASDAQ:ABDC) 11.60 11.77 11.55 96.5 93.8 95.3 9.4 14.43 0.82 1.47 7.33 -1.40 -3.80 0.00 -2.96
American Capital Senior Floating (ACSF) 9.83 9.88 11.74 98.3 95.1 91.4 9.8 11.79 0.84 0.51 6.41 -4.07 -10.08 0.00 -18.24
Apollo Investment Corporation (NASDAQ:AINV) 5.22 5.82 13.75 95.2 96.4 93.8 10.6 7.56 0.77 11.49 19.16 0.00 -10.00 0.00 -10.32
Ares Capital Corporation (NASDAQ:ARCC) 14.25 15.19 10.01 95.6 92.7 94.1 9.2 16.46 0.92 6.60 9.26 0.00 -7.89 0.00 -2.14
BlackRock Capital Investment (NASDAQ:BKCC) 9.40 8.41 9.99 80.0 80.8 94.4 8.3 10.17 0.83 -10.53 -8.30 3.96 -7.12 0.00 -3.05
CM Finance Inc (CMFN) 10.02 9.15 15.17 89.0 102.8 85.5 11.4 12.17 0.75 -8.68 -1.76 23.81 -16.67 0.00 -18.32
Capitala Finance Corp. (NASDAQ:CPTA) 12.08 13.53 13.90 100.0 100.5 113.4 11.0 17.04 0.79 12.00 15.89 -2.08 -11.11 0.00 -8.19
Fidus Investment Corporation (NASDAQ:FDUS) 13.69 15.94 9.79 91.8 89.1 95.4 10.3 15.17 1.05 16.44 19.28 1.80 -2.03 2.63 0.07
Fifth Street Finance Corp. (FSC) 6.38 5.42 13.28 100.0 91.1 98.9 8.6 8.41 0.64 -15.05 -11.38 -6.49 -15.27 0.00 -8.29
Fifth Street Senior Floating Rate (FSFR) 8.57 7.89 11.41 94.7 92.8 96.2 7.9 11.36 0.69 -7.93 -2.68 -4.04 -14.22 -25.00 -9.34
Franklin Square Investment Corp (FSIC) 8.99 9.31 9.58 97.0 95.9 80.8 9.8 9.10 1.02 3.56 8.52 -8.00 -8.86 0.00 -7.43
Full Circle Capital Corporation (FULL) 2.47 2.50 16.80 123.5 85.7 77.9 11.2 3.76 0.66 1.21 6.74 -19.05 -14.71 -47.50 -31.39
Gladstone Investment Corporation (NASDAQ:GAIN) 7.67 6.95 10.79 105.6 102.7 106.2 8.7 8.66 0.80 -9.39 -6.13 -1.39 -3.03 4.17 1.29
Garrison Capital Inc. (NASDAQ:GARS) 12.17 10.50 13.33 98.6 92.7 78.3 10.0 13.98 0.75 -13.72 -10.85 -9.55 -13.97 0.00 -10.27
Golub Capital BDC, Inc. (NASDAQ:GBDC) 16.63 17.55 7.29 100.0 97.7 107.8 8.1 15.89 1.10 5.53 7.46 -3.76 -3.35 0.00 2.19
Gladstone Capital Corporation (NASDAQ:GLAD) 7.31 7.64 10.99 100.0 100.0 95.8 10.0 8.38 0.91 4.51 7.39 0.00 -4.84 0.00 -9.99
Goldman Sachs BDC (NYSE:GSBD) 19.00 19.65 9.16 88.7 86.1 84.1 9.5 18.97 1.04 3.42 8.16 -1.46 -6.65 0.00 -2.67
Harvest Capital Credit (NASDAQ:HCAP) 11.73 12.93 10.44 93.1 95.7 87.8 9.5 14.26 0.91 10.23 13.97 2.11 -1.69 0.00 -2.33
    Share Price   Div/ Div/ Div/ Div/ Q4-15 Price YTD Percent Change LTM LTM
_____The_Company_name_and_stock_ticker____ 1-01 04-29 Yield EPS16 EPS17 NIIltm NAV NAV NAV Price Pr+Div EPS Target Div NAV
Horizon Technology Finance Corp (NASDAQ:HRZN) 11.73 11.44 12.06 98.6 97.9 110.4 10.0 13.85 0.83 -2.47 1.35 -1.41 -1.08 0.00 -3.55
Hercules Capital (NYSE:HTGC) 12.19 12.27 10.11 100.8 93.9 118.2 12.5 9.94 1.23 0.66 3.20 -6.11 -5.59 0.00 -2.36
KCAP Financial,Inc. (KCAP) 4.07 3.61 16.62 125.0 103.4 88.1 10.3 5.82 0.62 -11.30 -7.62 -27.27 -16.23 -40.00 -16.14
Main Street Capital Corporation (NYSE:MAIN) 29.08 31.22 6.92 99.5 95.2 99.1 10.2 21.24 1.47 7.36 9.83 -7.66 -4.78 5.88 1.87
Medley Capital Corporation (NYSE:MCC) 7.52 6.80 17.65 106.2 105.3 101.0 12.0 10.01 0.68 -9.57 -5.59 -8.13 -21.55 0.00 -14.74
Monroe Capital Corporation (NASDAQ:MRCC) 13.09 13.78 10.16 89.2 90.3 86.6 9.9 14.19 0.97 5.27 7.94 -2.48 -3.27 0.00 1.00
New Mountain Finance Corporation (NYSE:NMFC) 13.02 12.52 10.86 97.8 97.1 107.5 10.4 13.08 0.96 -3.84 -1.23 -2.80 -10.00 0.00 -5.42
OFS Capital Corporation (NASDAQ:OFS) 11.48 13.20 10.30 91.9 84.0 98.1 9.2 14.76 0.89 14.98 17.94 0.00 4.13 0.00 3.65
Oak Hill Advisors (NASDAQ:OHAI) 3.80 2.83 16.96 129.7 111.6 97.8 8.7 5.49 0.52 -25.53 -19.21 -13.95 0.00 -25.00 -26.60
Prospect Capital Corporation (NASDAQ:PSEC) 6.98 7.48 13.37 96.2 100.0 96.8 10.2 9.85 0.76 7.16 11.82 1.96 -18.05 0.00 -4.83
PennantPark Floating Rate Capital (NASDAQ:PFLT) 11.25 11.86 9.61 115.2 96.6 122.0 8.3 13.73 0.86 5.42 8.72 -1.98 -2.13 5.56 -3.04
PennantPark Investment Corp (NASDAQ:PNNT) 6.18 6.59 17.00 106.7 112.0 104.5 12.4 9.02 0.73 6.63 11.17 3.96 -16.17 0.00 -13.52
Saratoga Investment Corp. (NYSE:SAR) 15.42 16.60 9.64 84.2 84.7 83.9 7.1 22.59 0.73 7.65 10.25 -2.56 -7.50 81.82 -0.66
Stellus Capital Investment (NYSE:SCM) 9.64 10.32 13.18 102.3 100.0 111.7 10.3 13.19 0.78 7.05 14.11 0.00 -3.25 0.00 -5.38
Solar Capital Ltd. (NASDAQ:SLRC) 16.43 17.63 9.08 95.8 89.9 105.6 7.7 20.79 0.85 7.30 9.74 -4.02 -5.53 0.00 -5.71
Solar Senior Capital Ltd. (NASDAQ:SUNS) 14.90 15.00 9.40 99.3 100.0 105.8 8.6 16.33 0.92 0.67 3.04 0.71 -6.06 0.00 -7.48
Medallion Financial Corp. (TAXI) 7.04 7.70 12.99 89.3 86.2 65.9 8.8 11.42 0.67 9.38 16.48 -12.50 0.00 4.17 2.33
Triangle Capital Corp (TCAP) 19.11 21.25 10.16 101.4 91.9 100.0 14.2 15.23 1.40 11.20 14.02 -6.99 -2.71 0.00 -5.46
TCP Capital Corp. (NASDAQ:TCPC) 13.93 14.78 9.74 91.7 89.4 88.2 9.7 14.78 1.00 6.10 8.69 -4.27 -7.70 0.00 -1.53
THL Credit, Inc. (NASDAQ:TCRD) 11.70 11.25 12.09 97.1 95.8 96.1 10.8 12.58 0.89 -3.85 -0.94 0.00 -8.54 0.00 -3.82
TICC Capital Corp. (TICC) 6.08 5.18 22.39 227.5 246.8 167.8 18.1 6.40 0.81 -14.80 -10.03 -28.17 -25.00 7.41 -25.93
TriplePoint Venture Growth (NYSE:TPVG) 11.96 10.57 13.62 101.4 86.7 96.1 10.1 14.21 0.74 -11.62 -5.60 -15.48 7.46 0.00 -2.74
TPG Specialty Lending (NYSE:TSLX) 16.22 16.43 9.49 92.9 91.8 88.4 10.3 15.15 1.08 1.29 6.10 0.00 -3.33 0.00 -2.45
WhiteHorse Finance (NASDAQ:WHF) 11.48 9.99 14.21 102.9 103.6 96.2 10.7 13.33 0.75 -12.98 -6.79 -4.17 -16.43 0.00 -11.37
Sector Average     12.06 102.1     10.1   0.87 0.33 4.43 -4.12 -7.82   -7.03
With the 10 Treasury at 1.81% and sector average yield on Q1 dividends at 12.06% - the spread is 1025 bps.
The cap weighted ETF BDCS has a price change of 0.89% year to date - with dividends its total return is 5.37%.
The SPY or S&P 500 EFT is 1.21% year to date. - and with unreinvested dividends is 1.72% year to date.

Good BDCs 4-29-16

This is a grouping of BDCs with below 96.5% dividend to 2016 NII coverage and LTM NAV change of better than a 3.0% fall.

    Share Price   Div/ Div/ Div/ Div/ Q4-15 Price YTD Percent Change LTM LTM
Company_name_and_ticker 1-01 04-29 Yield EPS16 EPS17 NIIltm NAV NAV NAV Price Pr+Div EPS Target Div NAV
Alcentra Capital Corporation   11.60 11.77 11.55 96.5 93.8 95.3 9.4 14.43 0.82 1.47 7.33 -1.40 -3.80 0.00 -2.96
Ares Capital Corporation   14.25 15.19 10.01 95.6 92.7 94.1 9.2 16.46 0.92 6.60 9.26 0.00 -7.89 0.00 -2.14
Fidus Investment Corporation   13.69 15.94 9.79 91.8 89.1 95.4 10.3 15.17 1.05 16.44 19.28 1.80 -2.03 2.63 0.07
Goldman Sachs BDC   19.00 19.65 9.16 88.7 86.1 84.1 9.5 18.97 1.04 3.42 8.16 -1.46 -6.65 0.00 -2.67
Harvest Capital Credit   11.73 12.93 10.44 93.1 95.7 87.8 9.5 14.26 0.91 10.23 13.97 2.11 -1.69 0.00 -2.33
Monroe Capital Corporation   13.09 13.78 10.16 89.2 90.3 86.6 9.9 14.19 0.97 5.27 7.94 -2.48 -3.27 0.00 1.00
OFS Capital Corporation   11.48 13.20 10.30 91.9 84.0 98.1 9.2 14.76 0.89 14.98 17.94 0.00 4.13 0.00 3.65
Saratoga Investment Corp.   15.42 16.60 9.64 84.2 84.7 83.9 7.1 22.59 0.73 7.65 10.25 -2.56 -7.50 81.82 -0.66
Medallion Financial Corp.   7.04 7.70 12.99 89.3 86.2 65.9 8.8 11.42 0.67 9.38 16.48 -12.50 0.00 4.17 2.33
TCP Capital Corp.   13.93 14.78 9.74 91.7 89.4 88.2 9.7 14.78 1.00 6.10 8.69 -4.27 -7.70 0.00 -1.53
TPG Specialty Lending   16.22 16.43 9.49 92.9 91.8 88.4 10.3 15.15 1.08 1.29 6.10 0.00 -3.33 0.00 -2.45
Group Average     10.30 91.3     9.4   0.92 7.53 11.40 -1.89 -3.61   -0.70

Bad BDCs 4-29-16

This is a grouping of BDCs with above 99.0% dividend to 2016 NII coverage and LTM NAV change of worse than a 7% fall.

    Share Price   Div/ Div/ Div/ Div/ Q4-15 Price YTD Percent Change LTM LTM
Company_name_and_ticker 1-01 04-29 Yield EPS16 EPS17 NIIltm NAV NAV NAV Price Pr+Div EPS Target Div NAV
Capitala Finance Corp.   12.08 13.53 13.90 100.0 100.5 113.4 11.0 17.04 0.79 12.00 15.89 -2.08 -11.11 0.00 -8.19
Fifth Street Finance Corp.   6.38 5.42 13.28 100.0 91.1 98.9 8.6 8.41 0.64 -15.05 -11.38 -6.49 -15.27 0.00 -8.29
Full Circle Capital Corporation   2.47 2.50 16.80 123.5 85.7 77.9 11.2 3.76 0.66 1.21 6.74 -19.05 -14.71 -47.50 -31.39
Gladstone Capital Corporation   7.31 7.64 10.99 100.0 100.0 95.8 10.0 8.38 0.91 4.51 7.39 0.00 -4.84 0.00 -9.99
KCAP Financial,Inc.   4.07 3.61 16.62 125.0 103.4 88.1 10.3 5.82 0.62 -11.30 -7.62 -27.27 -16.23 -40.00 -16.14
Medley Capital Corporation   7.52 6.80 17.65 106.2 105.3 101.0 12.0 10.01 0.68 -9.57 -5.59 -8.13 -21.55 0.00 -14.74
Oak Hill Advisors   3.80 2.83 16.96 129.7 111.6 97.8 8.7 5.49 0.52 -25.53 -19.21 -13.95 0.00 -25.00 -26.60
PennantPark Investment Corp   6.18 6.59 17.00 106.7 112.0 104.5 12.4 9.02 0.73 6.63 11.17 3.96 -16.17 0.00 -13.52
Solar Senior Capital Ltd.   14.90 15.00 9.40 99.3 100.0 105.8 8.6 16.33 0.92 0.67 3.04 0.71 -6.06 0.00 -7.48
TICC Capital Corp.   6.08 5.18 22.39 227.5 246.8 167.8 18.1 6.40 0.81 -14.80 -10.03 -28.17 -25.00 7.41 -25.93
WhiteHorse Finance   11.48 9.99 14.21 102.9 103.6 96.2 10.7 13.33 0.75 -12.98 -6.79 -4.17 -16.43 0.00 -11.37
Group Average     16.92 132.1     12.2   0.80 -6.42 -1.64 -10.46 -14.74   -17.36
BDC Earnings Growth & P/E Ratios 04-29

Fiscal and calendar years are not in sync. BDCs than began fiscal 2016 on or before calendar Q4-15 include AINV, FULL, FSC, GAIN, GBDC, GLAD, MCC, PSEC, PFLT, and PNNT. The range metric is the high estimate minus the low estimate, with that result dividend by the consensus estimate - and serves as one of several measurements for assessing risk. All EPS projections are from Yahoo Finance - with the exceptions of ASBC and FSIC - where projections are not NIIs.

  Earnings / Share Earn. Growth P/E Ratios Current Fiscal Year
Co. 2011 2012 2013 2014 2015 2016 2017 14-15 15-16 16-17 2015 2016 2017 High Low Range Yr End
ABDC 0.00 0.00 0.00 0.86 1.43 1.41 1.45 66.28% -1.40% 2.84% 8.23 8.35 8.12 1.50 1.49 0.71% Dec
ACSF 0.00 0.00 0.00 0.38 1.29 1.18 1.22 239.47% -8.53% 3.39% 7.66 8.37 8.10 1.34 1.25 7.63% Dec
AINV 0.99 0.83 0.83 0.91 0.82 0.84 0.83 -9.89% 2.44% -1.19% 7.10 6.93 7.01 0.88 0.78 11.90% Mar
ARCC 1.56 1.65 1.64 1.43 1.54 1.59 1.64 7.69% 3.25% 3.14% 9.86 9.55 9.26 1.59 1.43 10.06% Dec
BKCC 1.00 1.00 0.78 0.91 0.97 1.05 1.04 6.59% 8.25% -0.95% 8.67 8.01 8.09 0.94 0.85 8.57% Dec
CMFN 0.00 0.00 0.00 1.17 1.48 1.56 1.35 26.50% 5.41% -13.46% 6.18 5.87 6.78 1.42 1.39 1.92% Jun
CPTA 0.00 0.00 0.00 1.54 1.66 1.88 1.87 7.79% 13.25% -0.53% 8.15 7.20 7.24 1.69 1.42 14.36% Dec
FDUS 1.63 1.54 1.54 1.62 1.64 1.70 1.75 1.23% 3.66% 2.94% 9.72 9.38 9.11 1.60 1.56 2.35% Dec
FSC 1.01 1.07 1.01 0.99 0.75 0.72 0.79 -24.24% -4.00% 9.72% 7.23 7.53 6.86 0.86 0.80 8.33% Sep
FSFR 0.00 0.00 0.00 0.96 0.96 0.95 0.97 0.00% -1.04% 2.11% 8.22 8.31 8.13 1.08 1.03 5.26% Sep
FSIC 0.00 0.00 0.00 0.80 0.92 0.92 0.93 15.00% 0.00% 1.09% 10.12 10.12 10.01 1.04 0.95 9.78% Dec
FULL 0.84 0.78 0.77 0.71 0.63 0.34 0.49 -11.27% -46.03% 44.12% 3.97 7.35 5.10 0.45 0.42 8.82% Jun
GAIN 0.73 0.62 0.68 0.73 0.75 0.71 0.73 2.74% -5.33% 2.82% 9.27 9.79 9.52 0.75 0.71 5.63% Mar
GARS 0.00 0.00 1.28 1.31 1.79 1.42 1.51 36.64% -20.67% 6.34% 5.87 7.39 6.95 1.71 1.53 12.68% Dec
GBDC 1.16 1.15 1.29 1.26 1.26 1.28 1.31 0.00% 1.59% 2.34% 13.93 13.71 13.40 1.26 1.22 3.13% Sep
GLAD 0.88 0.91 0.88 0.87 0.84 0.84 0.84 -3.45% 0.00% 0.00% 9.10 9.10 9.10 0.84 0.78 7.14% Sep

  Earnings / Share Earn. Growth P/E Ratios Current Fiscal Year
Co. 2011 2012 2013 2014 2015 2016 2017 14-15 15-16 16-17 2015 2016 2017 High Low Range

GSBD 0.00 0.00 0.00 1.77 2.04 2.03 2.09 15.25% -0.49% 2.96% 9.63 9.68 9.40 1.98 1.87 5.42% Dec
HCAP 0.00 0.00 0.00 1.34 1.36 1.45 1.41 1.49% 6.62% -2.76% 9.51 8.92 9.17 1.34 1.32 1.38% Dec
HRZN 1.50 1.41 1.39 1.11 1.25 1.40 1.41 12.61% 12.00% 0.71% 9.15 8.17 8.11 1.28 1.17 7.86% Dec
HTGC 0.91 0.97 1.23 1.13 1.04 1.23 1.32 -7.96% 18.27% 7.32% 11.80 9.98 9.30 1.02 0.92 8.13% Dec
KCAP 0.70 0.89 0.91 0.97 0.65 0.48 0.58 -32.99% -26.15% 20.83% 5.55 7.52 6.22 0.68 0.66 4.17% Dec
MAIN 1.69 2.01 2.02 2.20 2.18 2.17 2.27 -0.91% -0.46% 4.61% 14.32 14.39 13.75 2.23 2.11 5.53% Dec
MCC 0.56 1.31 1.53 1.58 1.27 1.13 1.14 -19.62% -11.02% 0.88% 5.35 6.02 5.96 1.62 1.22 35.40% Sep
MRCC 0.00 0.00 1.16 1.55 1.60 1.57 1.55 3.23% -1.88% -1.27% 8.61 8.78 8.89 1.77 1.57 12.74% Dec
NMFC 0.56 1.35 1.52 1.41 1.39 1.39 1.40 -1.42% 0.00% 0.72% 9.01 9.01 8.94 1.40 1.37 2.16% Dec
OFS 0.00 0.65 0.62 0.99 1.40 1.48 1.62 41.41% 5.71% 9.46% 9.43 8.92 8.15 1.77 1.23 36.49% Dec
OHAI 0.73 0.55 0.64 0.61 0.37 0.37 0.43 -39.34% 0.00% 16.22% 7.65 7.65 6.58 0.37 0.37 0.00% Dec
PSEC 1.09 1.63 1.57 1.19 1.03 1.04 1.00 -13.45% 0.97% -3.85% 7.26 7.19 7.48 1.12 1.00 11.54% Jun
PFLT 0.05 1.01 1.10 1.12 1.08 0.99 1.18 -3.57% -8.33% 19.19% 10.98 11.98 10.05 1.27 1.15 12.12% Sep
PNNT 1.25 1.08 1.01 1.06 1.10 1.05 1.00 3.77% -4.55% -4.76% 5.99 6.28 6.59 1.12 1.08 3.81% Sep
SAR 2.15 1.86 1.86 1.85 1.80 1.90 1.89 -2.70% 5.56% -0.53% 9.22 8.74 8.78 1.80 1.80 0.00% Dec
SCM 0.00 0.00 1.34 1.34 1.33 1.33 1.36 -0.75% 0.00% 2.26% 7.76 7.76 7.59 1.34 1.25 6.77% Dec
SLRC 2.25 2.20 1.89 1.56 1.52 1.67 1.78 -2.56% 9.87% 6.59% 11.60 10.56 9.90 1.55 1.48 4.19% Dec
SUNS 0.63 1.31 1.18 1.20 1.33 1.42 1.41 10.83% 6.77% -0.70% 11.28 10.56 10.64 1.37 1.32 3.52% Dec
TAXI 1.01 1.21 1.14 1.14 1.20 1.12 1.16 5.26% -6.67% 3.57% 6.42 6.87 6.64 1.24 1.12 10.71% Dec
TCAP 2.06 2.16 2.25 2.08 2.16 2.13 2.35 3.85% -1.39% 10.33% 9.84 9.98 9.04 2.09 2.04 2.35% Dec
TCPC 0.00 1.81 1.63 1.56 1.63 1.57 1.61 4.49% -3.68% 2.55% 9.07 9.41 9.18 1.70 1.57 8.28% Dec
TCRD 1.04 1.38 1.45 1.42 1.41 1.40 1.42 -0.70% -0.71% 1.43% 7.98 8.04 7.92 1.43 1.38 3.57% Dec
TICC 0.94 1.12 1.04 1.05 0.73 0.51 0.47 -30.48% -30.14% -7.84% 7.10 10.16 11.02 0.77 0.72 9.80% Dec
TPVG 0.00 0.00 0.00 1.30 1.44 1.42 1.66 10.77% -1.39% 16.90% 7.34 7.44 6.37 1.55 1.45 7.04% Dec
TSLX 0.00 1.36 1.66 2.07 1.77 1.68 1.70 -14.49% -5.08% 1.19% 9.28 9.78 9.66 1.69 1.66 1.79% Dec
WHF 0.00 0.00 1.28 1.14 1.48 1.38 1.37 29.82% -6.76% -0.72% 6.75 7.24 7.29 1.50 1.44 4.35% Dec
BDC Average           8.76 -2.36 4.05 8.60 8.76 8.46     7.80

Disclosure: I am/we are long AINV, ARCC, FDUS, MRCC, PFLT, PNNT, TCPC.