Individual BDC Performance Table

We explain the purpose of the BDC Performance Table, which summarizes each BDC's most recent results and includes the rating the BDC Reporter has applied.

Click here for the Individual BDC Performance Table

We have been busy launching the new-look BDC Reporter, so we've fallen behind on completing our one-paragraph summaries of every BDC's IQ 2026 financial performance. However, we've now completed all 45 summaries.

The BDC Reporter seeks to "cover" all 45 public BDCs as an investment banking analyst might, but without the resources of a large financial institution. Our nominal goal is to review, analyze, and interpret all materially important developments pertaining to every BDC - from the largest to the smallest. This principally involves reading every SEC filing, press release, investment presentation, and conference call.

When earnings season comes around - 4 times a year - we distill down for our readers how each BDC has performed in financial terms. This primarily revolves around the direction of earnings relative to expectations; gains and losses incurred; changes in portfolio credit quality; and changes in net asset value per share.

We rate every BDC on a scale of 1 to 5, similar to the system many BDCs themselves use to evaluate their own portfolio companies. Both our rating conclusions and theirs are necessarily subjective, but are based on consistent standards. In the Individual BDC Performance Table, we summarize our financial performance for the quarter, in one paragraph per BDC, following a review of the latest metrics. The summary goes hand in hand with the rating we give.