The following chart shows my current suggested portfolios from the premium reports.
Most recent articles:
- Higher Yield BDCs Continue To Pull Back (6-6-17)
- Baby Bonds For BDCs: Price Stability (6-1-17)
- Building A Higher Yield BDC Portfolio: Part 1 (5-23-17)
- Will The High-Yield BDC Sector Outperform The S&P 500 In 2017? (5-15-17)
- Yields Are Finally Rising for BDCs (5-11-17)
- Prospect Capital: Dividend Coverage Analysis (5-10-17)
- HTGC: External Management Analysis (5-8-17)
- Issues And Opportunities For BDCs: Q1 2017 Earnings Season (4-27-17)
- Will The BDC Sector Continue Higher? (4-24-17)
- TCPC Equity Offering: Is It Still A Buy? (4-23-17)
- Investing In BDCs And Why Timing Matters: Part 4 (4-19-17)
- Yield Compression & Dividend Cuts for BDCs (4-18-17)
- BDC Total Returns Continue To Beat S&P 500 Since 2014 (4-12-17)
- Assessing Dividend Coverage For The BDC Sector: Part 2 (3-29-17)
- Investing In High-Yield BDCs And Why Timing Matters: Part 3 (3-17-17)
Here is a list of the BDCs that I cover and associated focus articles:
For quarterly projections, pricing, risks and rankings for each BDC, please see 'premium reports'.
Apollo Investment (AINV):
- Oil Exposure: BDC Risk Profiles (10-12-16)
- BDCs & 7 Years of 20% Annual Returns (4-29-16)
- AINV: What Comes Next? (4-20-15)
- High-Yield BDC Pricing: Q1 2015 (2-11-15)
- AINV: BDC Risk Profiles (8-27-14)
- AINV: BDC Dividend Coverage Part 15 (6-20-14)
- Apollo Investment: Should It Be Upgraded?
- AINV: February 2014 Report (special report)
- The Underdog BDC Portfolio: Q1 2014 (FSC, GLAD, AINV, MCGC, KCAP)
- Updated BDC Risk Profiles: Part 2 (ACAS, PSEC, PNNT, TICC, AINV)
- BDC Risk Profiles: Part 7 - Credit Quality
- The Good, The Bad, And The Maybe? Part 3
Ares Capital
(ARCC):
- Upcoming Dividend Cuts For BDCs: Part 2 (7-27-16)
- BDCs & 7 Years of 20% Annual Returns (4-29-16)
- Are BDCs Better Than Banks? Part 1 (10-21-15)
- Ares Capital: What Comes Next? (4-16-15)
- Why I Sold ARCC (10-30-14)
- Ares Capital: Is it a Buy? (7-16-14)
- ARCC: May 2014 Report (special report)
- AresCapital: BDC Dividend Coverage Part 1 (5-28-14)
- Total Return BDC Portfolios For Q2 2014
- ARCC: Q4 2013 Update
- ARCC: December 2013 Report (special report)
- Ares Capital And Rising Rates
- The Value BDC Portfolio: Q4 2013
- The Risk Averse BDC Portfolio: Q4 2013
- Ares Capital: Buy on the Dip?
- The Total Return BDC Portfolio
- The Ultimate BDC Portfolio: Q3 2013
- The Risk Averse BDC Portfolio: Q3 2013
- Ares Capital: Ready For Rising Rates?
- Updated BDC Risk Profiles: Part 1 (ARCC, BKCC, FSC, MAIN, TCAP)
- BDC Risk Profiles: Part 8 - Credit Quality
- Ares Capital: BDCs - The Good, The Bad And The Maybe? Part 7
BlackRock Kelso
Capital (BKCC):
- BDCs & 7 Years of 20% Annual Returns (4-29-16)
- BKCC: What Comes Next? (5-19-15)
- High-Yield BDC Pricing: Q1 2015 (2-11-15)
- BKCC Risk Profile (9-19-14)
- BlackRock Kelso Capital: Is It Better Than Fifth Street Finance?
- Updated BDC Risk Profiles: Part 1 (ARCC, BKCC, FSC, MAIN, TCAP)
- BDC Earnings Summary Q2 2013: Part 1
- BDC Risk Profiles: Part 7 - Credit Quality
- 3 Business Development Companies: The Good, The Bad, And The Maybe? Part 2
Fidus Investment
(FDUS):
- FDUS: BDC Risk Profiles (9-2-14)
- Fidus Investment: Higher Total Returns?
- The Total Return BDC Portfolio
- 20 BDCs - The Good, The Bad And The Maybe? Part 16: Fidus Investment
- BDC Risk Profiles: Part 4 (FDUS, HTGC, SUNS, MCGC, GLAD)
- BDC Earnings Summary Q2 2013: Part 1
- BDC Risk Profiles: Part 8 - Credit Quality
Fifth Street
Finance (FSC):
- Assessing Risk for the BDCs: Upcoming FSC Credit Downgrades (3-1-17)
- FSC: Continued Credit Issues Driving Losses For Shareholders (11-30-16)
- Are High-Yield Retail Investors Starting To Take Profits? (9-12-16)
- FSC: When to Sell? (1-26-16)
- Investor Activism Continues In The BDC Sector: Part 1 (11-19-15)
- FSC: Will Management Do the Right Thing? (7-30-15)
- FSC: What Comes Next? (5-12-15)
- FSC: Updated Dividend Stress Test (2-17-15)
- High-Yield BDC Pricing: Q1 2015 (2-11-15)
- FSC Risk Profile (9-18-14)
- Prospect Capital Vs. Fifth Street Finance (7-8-14)
- The High-Yield BDC Portfolio for Q3 2014 (8-18-14)
- Prospect Capital Vs. Fifth Street Finance (7-8-14)
- FSC: BDC Dividend Coverage Part 16 (6-24-14)
- FSC Report: April 2014 (special report)
- FSC: Time to Buy or to Sell? Part 1
- FSC: Time to Buy or to Sell? Part 2 (special report)
- The Underdog BDC Portfolio: Q1 2014 (FSC, GLAD, AINV, MCGC, KCAP)
- The Value BDC Portfolio: Q4 2013
- The High-Yield BDC Portfolio: Q3 2013
- Updated BDC Risk Profiles: Part 1 (ARCC, BKCC, FSC, MAIN, TCAP)
- The High-Yield BDC Portfolio
- BlackRock Kelso Capital: Is It Better Than Fifth Street Finance?
- BDC Risk Profiles: Part 9 - Credit Quality
- 3 Business Development Companies: The Good, The Bad, And The Maybe? Part 1
FS
Investment Corp (FSIC):
- FS Investment: Dividend Coverage Analysis (4-19-17)
- Oil Exposure: BDC Risk Profiles (10-12-16)
- Are BDCs Better Than Banks? Part 1 (10-21-15)
- FSIC: BDC Risk Profiles (9-23-14)
- Highlights From FS Investment's Q2 2014 Results (8-15-14)
- Total Return BDC Portfolios For Q3 2014 (7-24-14)
- FSIC: BDC Dividend Coverage Part 6 (6-6-14)
- FSIC Report: April 2014 (special report)
- FS Investment Corporation Goes Public (4-16-14)
Full Circle Capital (FULL):
Gladstone
Capital (GLAD):
- Oil Exposure: BDC Risk Profiles (10-12-16)
- BDCs & 7 Years of 20% Annual Returns (4-29-16)
- Is GLAD Still Looking Out For Shareholders? (10-27-15)
- GLAD: What Comes Next? (5-11-15)
- High-Yield BDC Pricing: Q1 2015 (2-11-15)
- GLAD: BDC Risk Profiles (9-8-14)
- GLAD: BDC Dividend Coverage Part 10 (6-9-14)
- GLAD: March 2014 Report (special report)
- Total Return BDC Portfolios For Q2 2014
- The Underdog BDC Portfolio: Q1 2014 (FSC, GLAD, AINV, MCGC, KCAP)
- BDC Risk Profiles: Part 4 (FDUS, HTGC, SUNS, MCGC, GLAD)
- BDC Earnings Summary Q2 2013: Part 1
- 21 BDCs - The Good, The Bad And The Maybe? Part 17: Gladstone Capital
- BDC Risk Profiles: Part 11 - Credit Quality
Golub Capital
BDC (GBDC):
- GBDC Update: Projections, Pricing, Recommendations (special report)
- The Ultimate BDC Portfolio: Q3 2013
- BDC Risk Profiles: Part 5 (GBDC, HRZN, PFLT, NMFC)
- Golub Capital: Projections, Risks & Valuation
- 13 BDCs - The Good, The Bad And The Maybe? Part 9: Golub Capital
- BDC Risk Profiles: Part 9 - Credit Quality
Hercules
Technology Growth Capital (HTGC):
- HTGC: External Management Analysis (5-8-17)
- HTGC: Already Benefiting From Rising Interest Rates (4-18-16)
- HTGC: Time to Take the Plunge? (2-19-16)
- Time to Buy Tech Focused BDCs? (6-25-15)
- HTGC: What Comes Next? (5-13-15)
- PSEC vs. HTGC (9-26-14)
- HTGC: BDC Risk Profiles (9-11-14)
- HTGC: BDC Dividend Coverage Part 7 (6-6-14)
- HTGC: March 2014 Report (special report)
- Total Return BDC Portfolios For Q2 2014
- Hercules Technology Vs. MCG Capital
- The Total Return BDC Portfolio
- BDC Risk Profiles: Part 4 (FDUS, HTGC, SUNS, MCGC, GLAD)
- Hercules Technology: Will It Continue To Surprise?
- BDC Earnings Summary Q2 2013: Part 1
- BDC Risk Profiles: Part 11 - Credit Quality
- HTGC: BDCs - The Good, The Bad And The Maybe? Part 6
Horizon
Technology Finance (HRZN):
KCAP Financial
(KCAP):
- BDCs & 7 Years of 20% Annual Returns (4-29-16)
- KCAP: What Comes Next? (5-18-15)
- High-Yield BDC Pricing: Q1 2015 (2-11-15)
- KCAP: BDC Risk Profiles (9-10-14)
- KCAP Financial: Will It Continue To Fall?
- The Underdog BDC Portfolio: Q1 2014 (FSC, GLAD, AINV, MCGC, KCAP)
- 12 BDCs - The Good, The Bad And The Maybe? Part 8: KCAP Financial
- Updated BDC Risk Profiles: Part 3 (TCRD, TCPC, MCC, KCAP, SLRC)
- BDC Risk Profiles: Part 7 - Credit Quality
Main Street
Capital (MAIN):
- Oil Exposure: BDC Risk Profiles (10-12-16)
- BDCs & 7 Years of 20% Annual Returns (4-29-16)
- Main Street Capital Continues To Outperform All Other BDCs (6-16-15)
- MAIN: April 2014 Report (special report)
- Main Street Capital Makes a Move (4-11-14)
- Main Street Capital: The Best BDC? (special report)
- Total Return BDC Portfolios For Q2 2014
- The Risk Averse BDC Portfolio: Q4 2013
- The Total Return BDC Portfolio
- The Ultimate BDC Portfolio: Q3 2013
- The Risk Averse BDC Portfolio: Q3 2013
- Main Street Capital: More Than Just Dividends?
- Updated BDC Risk Profiles: Part 1 (ARCC, BKCC, FSC, MAIN, TCAP)
- High Priced BDCs: Are They Worth It?
- 3 Business Development Companies: The Good, The Bad, And The Maybe? Part 2
MCG Capital
(MCGC):
- Hercules Technology Vs. MCG Capital
- The Underdog BDC Portfolio: Q1 2014 (FSC, GLAD, AINV, MCGC, KCAP)
- BDC Risk Profiles: Part 4 (FDUS, HTGC, SUNS, MCGC, GLAD)
- BDC Earnings Summary Q2 2013: Part 1
- MCG Capital: An Overpriced BDC
- BDC Risk Profiles: Part 8 - Credit Quality
- 3 Business Development Companies: The Good, The Bad, And The Maybe? Part 1
Medley Capital
(MCC):
- MCC: Continued Credit Issues & Declining NAV (12-12-16)
- Upcoming Dividend Cuts For BDCs: Part 1 - MCC (7-19-16)
- MCC: Dividend Stress Test (2-19-15)
- High-Yield BDC Pricing: Q1 2015 (2-11-15)
- Prospect Capital or Medley Capital? (1-2-15)
- MCC: Update for FQ4 2014 (12-9-14)
- MCC: BDC Risk Profiles (9-9-14)
- MedleyCapital: BDC Dividend Coverage Part 2 (5-28-14)
- MCC: Continues To Cover Its High Dividend
- The Value BDC Portfolio: Q4 2013
- The High-Yield Portfolio: Q4 2013
- Medley Capital: Can it Continue to Cover Dividends?
- The Ultimate BDC Portfolio: Q3 2013
- The Value & Growth BDC Portfolio: Q3 2013
- The High-Yield BDC Portfolio: Q3 2013
- Updated BDC Risk Profiles: Part 3 (TCRD, TCPC, MCC, KCAP, SLRC)
- The High-Yield BDC Portfolio
- BDC Earnings Summary Q2 2013: Part 1
- Highest-Yield BDCs With The Lowest Multiples
- BDC Risk Profiles: Part 8 - Credit Quality
- 3 Business Development Companies: The Good, The Bad, And The Maybe? Part 1
Monroe Capital (MRCC):
- Higher Quality BDCs: Monroe Capital (9-6-16)
New Mountain Finance (NMFC):
- Oil Exposure: BDC Risk Profiles (10-12-16)
- New Mountain Finance: BDC Risk Profiles (9-3-14)
- New Mountain Finance: BDC Dividend Coverage Part 5 (5-29-14)
- NMFC: January 2014 Report (special report)
- NMFC: How Long Can It Sustain Dividends?
- Total Return BDC Portfolios For Q2 2014
- New Mountain Finance: Sustainable And Higher Total Returns?
- The Value BDC Portfolio: Q4 2013
- The Total Return BDC Portfolio
- BDC Risk Profiles: Part 5 (GBDC, HRZN, PFLT, NMFC)
- 15 BDCs - The Good, The Bad And The Maybe? Part 11: New Mountain Finance
- BDC Risk Profiles: Part 8 - Credit Quality
PennantPark
Floating Rate Capital (PFLT):
- PFLT: BDC Risk Profiles (8-28-14)
- PFLT: BDC Dividend Coverage Part 11 (6-10-14)
- The Risk Averse BDC Portfolio: Q4 2013
- The Risk Averse BDC Portfolio: Q3 2013
- PennantPark Floating Rate Capital: The Good, The Bad And The Maybe? Part 21
- BDC Risk Profiles: Part 5 (GBDC, HRZN, PFLT, NMFC)
- BDC Risk Profiles: Part 9 - Credit Quality
PennantPark
Investment (PNNT):
- Oil Exposure: BDC Risk Profiles (10-12-16)
- BDCs & 7 Years of 20% Annual Returns (4-29-16)
- PNNT: What Comes Next? (5-1-15)
- High-Yield BDC Pricing: Q1 2015 (2-11-15)
- The High-Yield BDC Portfolio for Q3 2014 (8-18-14)
- Total Return BDC Portfolios For Q2 2014
- PennantPark Investment: Is It Still Good?
- Updated BDC Risk Profiles: Part 2 (ACAS, PSEC, PNNT, TICC, AINV)
- BDC Risk Profiles: Part 7 - Credit Quality
- PennantPark: BDCs - The Good, The Bad And The Maybe? Part 4
Prospect Capital
(PSEC):
- Prospect Capital: Dividend Coverage Analysis (5-10-17)
- PSEC: Distributable Income Update (2-9-17)
- PSEC: Material Declines In Portfolio Yield & Distributable Income (11-8-16)
- PSEC: Projected Dividend Coverage FQ1 2017 (11-6-16)
- Are High-Yield Retail Investors Starting To Take Profits? (9-12-16)
- PSEC: Harbortouch to the Rescue (8-29-16)
- PSEC: Declining Distributable Income (8-22-16)
- Upcoming Dividend Cuts For BDCs: Part 3 (8-12-16)
- BDCs & 7 Years of 20% Annual Returns (4-29-16)
- PSEC: Upcoming NAV Declines (2-8-16)
- PSEC Q1 2016 Projections: Part 2 (11-4-15)
- PSEC Q1 2016 Projections: Part 1 (11-3-15)
- PSEC: Fiscal Q4 2015 Results (8-26-15)
- PSEC: Rising Interest Rates Could Drive Lower Earnings And NAV (8-24-15)
- Prospect Capital & BDC Risk Profiles: Part 2 (7-16-15)
- How Risky Is Prospect Capital? Part 1 (7-10-15)
- Which BDCs to Buy After Selling PSEC? (6-18-15)
- Total Returns & PSEC Rights Offerings (6-2-15)
- PSEC: Continued NAV Declines? (5-6-15)
- PSEC: What Comes Next? (4-23-15)
- Prospect Capital: Dividend Coverage Stress Test (2-6-15)
- High-Yield BDC Pricing: Q1 2015 (2-11-15)
- Prospect Capital: Oil, Energy & CLO Exposure (1-29-15)
- Prospect Capital or Medley Capital? (1-2-15)
- PSEC: What Comes Next? Part 7 (12-11-14)
- PSEC & Share Issuances Below NAV (12-5-14)
- PSEC & Required Returns (11-21-14)
- PSEC & BDC Expenses (11-18-14)
- PSEC: What Comes Next? Part 6 (10-20-14)
- PSEC vs. HTGC (9-26-14)
- PSEC: What Comes Next? Part 5 (9-12-14)
- PSEC: What Comes Next? Part 4 (8-26-14)
- PSEC: What Comes Next? Part 3 (8-22-14)
- Is Prospect Capital Ready for Rising Rates? (8-13-14)
- Prospect Capital Vs. Fifth Street Finance (7-8-14)
- PSEC: BDC Dividend Coverage Part 18 (6-26-14)
- PSEC Updated Projections: May 2014 (special report)
- Prospect Capital:What Comes Next? Part 2 (5-21-14)
- Prospect Capital: What Comes Next? Part 1 (5-13-14)
- PSEC: February 2014 Report (special report)
- Prospect Capital: How Long Can It Sustain Dividends?
- PSEC: Sustainable High-Yields? Part 2 (special article for blog only)
- PSEC: Sustainable High-Yields? Part 1
- The Value BDC Portfolio: Q4 2013
- The High-Yield Portfolio: Q4 2013
- Prospect Capital: Q1 2014 Expectations
- The Ultimate BDC Portfolio: Q3 2013
- The Value & Growth BDC Portfolio: Q3 2013
- The High-Yield BDC Portfolio: Q3 2013
- Prospect Capital: Time to Buy?
- Updated BDC Risk Profiles: Part 2 (ACAS, PSEC, PNNT, TICC, AINV)
- The High-Yield BDC Portfolio
- Prospect Capital: Is It Better Than American Capital?
- BDC Risk Profiles: Part 10 - Prospect Capital
- 3 Business Development Companies: The Good, The Bad, And The Maybe? Part 2
Solar Capital
(SLRC):
- Updated BDC Risk Profiles: Part 3 (TCRD, TCPC, MCC, KCAP, SLRC)
- BDC Earnings Summary Q2 2013: Part 1
- The High-Yield BDC Portfolio
- Solar Capital: BDCs - The Good, The Bad And The Maybe? Part 5
- BDC Risk Profiles: Part 7 - Credit Quality
Solar Senior
Capital (SUNS):
TCP Capital (TCPC):
- TCPC Equity Offering: Is It Still A Buy? (4-23-17)
- TCP Capital Is Poised For Growth (8-1-14)
- TCPC: May 2014 Report (special report)
- TCPCapital: BDC Dividend Coverage Part 3 (5-28-14)
- TCPC: Optimal Leverage For Increased Dividends
- TCPC: January 2014 Report (special report)
- Total Return BDC Portfolios For Q2 2014
- The Risk Averse BDC Portfolio: Q4 2013
- The Ultimate BDC Portfolio: Q3 2013
- The Value & Growth BDC Portfolio: Q3 2013
- The Risk Averse BDC Portfolio: Q3 2013
- TCP Capital: Still Overlooked?
- Updated BDC Risk Profiles: Part 3 (TCRD, TCPC, MCC, KCAP, SLRC)
- TCP Capital: The Overlooked BDC
- 17 BDCs - The Good, The Bad And The Maybe? Part 13: TCP Capital
THL Credit
(TCRD):
- TCRD: Dividend Coverage Assessment (12-15-16)
- High-Yield BDC Pricing: Q1 2015 (2-11-15)
- TCRD: BDC Risk Profiles (9-1-14)
- TCRD: January 2014 Report (special report)
- THLCredit: BDC Dividend Coverage Part 4 (5-29-14)
- THL Credit: Falling Yields And Growing Dividends?
- TCRD: Poised For Growth And Pushing Higher
- The Ultimate BDC Portfolio: Q3 2013
- The Value & Growth BDC Portfolio: Q3 2013
- THL Credit: Another Overlooked BDC
- Updated BDC Risk Profiles: Part 3 (TCRD, TCPC, MCC, KCAP, SLRC)
- 14 BDCs - The Good, The Bad And The Maybe? Part 10: THL Credit
TICC Capital
(TICC):
- Investor Activism Continues In The BDC Sector: Part 1 (11-19-15)
- TICC Capital: What Comes Next? (5-4-15)
- TICC Capital: Dividend Stress Test (2-25-15)
- High-Yield BDC Pricing: Q1 2015 (2-11-15)
- TICC: BDC Risk Profiles (9-4-14)
- TICC: BDC Dividend Coverage Part 14 (6-18-14)
- TICC: Lower Fees For Higher Yields In 2014?
- TICC: January 2014 Report (special report)
- The High-Yield Portfolio: Q4 2013
- The Value & Growth BDC Portfolio: Q3 2013
- The High-Yield BDC Portfolio: Q3 2013
- Updated BDC Risk Profiles: Part 2 (ACAS, PSEC, PNNT, TICC, AINV)
- The High-Yield BDC Portfolio
- TICC Capital: High Dividends And Low Price
- BDC Risk Profiles: Part 11 - Credit Quality
- 18 BDCs - The Good, The Bad And The Maybe? Part 14: TICC Capital
Triangle Capital
(TCAP):
- BDCs & 7 Years of 20% Annual Returns (4-29-16)
- TCAP: What Comes Next? (4-22-15)
- Triangle Capital Suffers From Repayments: But Is It An Opportunity?
- TCAP: January 2014 Report (special report)
- Total Return BDC Portfolios For Q2 2014
- The Ultimate BDC Portfolio: Q3 2013
- Updated BDC Risk Profiles: Part 1 (ARCC, BKCC, FSC, MAIN, TCAP)
- Triangle Capital: Is It Priced For Total Return?
- High Priced BDCs: Are They Worth It?
- 16 BDCs - The Good, The Bad And The Maybe? Part 12: Triangle Capital
- TPVG: Q4 2016 Dividend Coverage Analysis (3-17-17)
- TPVG: 12 Yield & Rebounding (11-29-16)
- TPVG: Poised for Growth? (8-12-15)
- Time to Buy Tech Focused BDCs? (6-25-15)
- Which BDCs to Buy After Selling PSEC? (6-18-15)
TPG Specialty Lending (TSLX):
- Higher-Quality BDCs: TSLX (2-24-16)
- TSLX: BDC Risk Profiles (9-24-14)
American Capital (ACAS):
- American Capital: Is It Time To Get Out?
- Updated BDC Risk Profiles: Part 2 (ACAS, PSEC, PNNT, TICC, AINV)
- BDC Earnings Summary Q2 2013: Part 1
- BDC Risk Profiles: Part 12 - American Capital
- American Capital: When Will It Pay A Dividend?
- Prospect Capital: Is It Better Than American Capital?
- American Capital: Is It Good?