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Screeners

Private credit (BDC) screener

Business development companies: listed vehicles that lend to private middle-market companies and are required to distribute nearly all of their taxable income. Screen them by yield, size, payment record and the payout ratio, with its limitations stated.

How to read this: narrow the universe first — structure, sector, size — and only then sort. Sorting on yield alone puts whatever the market has most recently marked down at the top, which is a fact about price rather than about income. Every column here measures the past or the present; none of them is a forecast.

What this screen covers
This screen covers listed business development companies from the site's curated BDC catalog. Non-traded and private BDCs, interval funds, and direct-lending partnerships are not listed securities and are not in this database at all. Funds that hold baskets of BDCs sit in the income fund screener instead.
Which yield you are reading
The yield column is the annual distribution over the latest stored price. For most BDCs that annual figure is a FORWARD estimate — the last regular payment multiplied by the payments a year — and where the cadence cannot be established it is the TRAILING twelve months instead. The Yield basis column names it per row. Supplemental and variable distributions, which many BDCs pay on top of the base rate, are deliberately not annualised: a payment well above the recent norm is treated as a supplemental and the base payment is annualised instead, so the headline figure does not assume a supplemental repeats.
Filters

Annual distribution over the latest stored price, on the basis named per row.

In this universe the top of the yield range is usually where the market has already marked the shares down against the book value behind them.

Distribution against GAAP earnings per share. For a BDC this is a weak proxy — the industry measure is net investment income, which this database does not hold. Applying it also excludes every BDC with no stored ratio.

Consecutive completed calendar years in which the largest regular payment was higher than the year before, counted only across the history stored here.

How long a payment record exists here — the closest thing this screen has to a test of whether a BDC has been through a credit cycle.

Market capitalisation as stored with the latest quote. Blank for many funds, which the filter therefore excludes rather than assumes.

Cadence is derived from the spacing of actual payment dates, not from the provider's frequency tag, which is missing on many rows.

The sort order is a filter, not an opinion.

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Showing 1–35 of 35. Page 1 of 1

Unfiltered, this screen covers all 35 eligible securities in its universe, sorted by yield, annualised (highest first). This is a research screen, not a recommendation and not a ranking of quality. A filter describes what a security is; the sort order is a filter too, not an opinion. A security at the top of a yield sort is the one paying the most relative to its price today, which is as often a market judgement about risk as it is an opportunity.

The database holds 39 securities in this screener's universe, of which 35 are eligible for the screen. Of the rest, 3 are not currently live — a security whose quote has gone stale is marked historical, because a data vendor keeps quoting the last trade that ever happened for something redeemed, matured, delisted or acquired, and annualising a payment against that price invents a yield; 1 have no payment history from which to compute an annualised yield.

The two sentences above matter more than any row below them: the first says how many securities matched and in what order they are listed — whichever sort is selected, so the top row is the extreme of that one measure and nothing else — and the second says what was held back and why. In this view the table shows fewer columns: a second yield on a different basis, a ratio, a size are hidden, and the columns that remain carry a line of plain English under the header. Switch to Expert in the bottom-right rail to see all of them. Every figure is a stored observation rather than a live quote, and every one describes the past or the present — none of them is a forecast.

Private credit (BDC) screener — a research screen over stored prices and stored payment history. Every yield column names the basis it is computed on.
Save Ticker Name Price (last stored) Market cap Yield (annualised — basis per row)The payment for a year divided by the latest stored price. The Yield basis column says how that yearly payment was established. Yield basisWhere the yearly payment came from: a fixed contractual coupon, an estimate from the latest regular payment, or the cash actually paid over 12 months. Yield (trailing 12m, cash paid) Payout (GAAP EPS) Pays Rising yrs (our history)Consecutive years the payment rose, counted only within the payment history stored here — not the company's own record. Years paying (our history) Next ex-date
OXSQ Oxford Square Capital Corp. $1.37 $143.93M 30.66% Forward estimate 30.66% Monthly 0 22 Sep 16, 2026
PNNT PennantPark Investment Corporation $3.81 $248.78M 25.20% Forward estimate 25.20% Monthly 0 19
HRZN Horizon Technology Finance Corporation $4.77 $238.89M 22.64% Forward estimate 23.27% 255.38% Monthly 0 16 Sep 16, 2026
RWAY Runway Growth Finance Corp. $6.56 $278.57M 20.12% Trailing 12 months 20.12% 0 5
OFS OFS Capital Corporation $3.65 $48.90M 18.63% Forward estimate 23.29% Quarterly 0 13 Sep 18, 2026
PSEC Prospect Capital Corporation $2.35 $1.18B 17.87% Forward estimate 21.70% 294.19% Monthly 0 22 Aug 27, 2026
TPVG TriplePoint Venture Growth BDC Corp. $5.34 $216.80M 17.23% Forward estimate 17.60% 93.00% Quarterly 0 12 Sep 16, 2026
WHF WhiteHorse Finance, Inc. $7.05 $151.41M 16.74% Trailing 12 months 16.74% 171.33% 0 14 Sep 21, 2026
SAR Saratoga Investment Corp. $18.42 $300.44M 16.29% Forward estimate 17.64% 277.41% Monthly 0 19 Sep 03, 2026
TCPC BlackRock TCP Capital Corp. $4.18 $350.71M 16.27% Forward estimate 21.05% Quarterly 0 14 Sep 16, 2026
CION CION Investment Corporation $7.51 $373.92M 15.98% Forward estimate 20.24% Monthly 0 5 Sep 11, 2026
PSBD Palmer Square Capital BDC Inc. $10.34 $321.79M 15.09% Forward estimate 15.57% 246.75% Quarterly 0 2 Sep 25, 2026
FSK FS KKR Capital Corp. $12.05 $3.37B 13.94% Forward estimate 19.09% Quarterly 0 12 Sep 16, 2026
PFLT PennantPark Floating Rate Capital Ltd. $7.42 $736.20M 13.47% Forward estimate 15.80% 196.05% Monthly 0 15
NMFC New Mountain Finance Corporation $7.61 $718.78M 13.14% Forward estimate 15.90% Quarterly 0 15 Sep 16, 2026
MFIC MidCap Financial Investment Corporation $9.68 $796.96M 12.82% Forward estimate 14.26% Quarterly 0 22 Sep 08, 2026
BXSL Blackstone Secured Lending Fund $24.83 $5.78B 12.40% Forward estimate 12.40% 232.83% Quarterly 0 5 Sep 30, 2026
NCDL Nuveen Churchill Direct Lending Corp. $12.36 $610.42M 12.30% Forward estimate 13.59% 184.60% Quarterly 0 2 Sep 30, 2026
CGBD Carlyle Secured Lending, Inc. $11.41 $792.96M 12.27% Forward estimate 13.58% 212.72% Quarterly 2 9 Sep 30, 2026
KBDC Kayne Anderson BDC, Inc. $13.52 $897.05M 11.83% Forward estimate 11.83% 134.14% Quarterly 0 2 Sep 30, 2026
MSDL Morgan Stanley Direct Lending Fund $15.38 $1.30B 11.70% Forward estimate 12.35% 281.92% Quarterly 0 3 Sep 30, 2026
SCM Stellus Capital Investment Corporation $8.66 $250.68M 11.54% Forward estimate 16.51% 147.05% Monthly 0 14 Aug 31, 2026
BBDC Barings BDC, Inc. $9.45 $989.48M 11.01% Forward estimate 12.06% 131.31% Quarterly 1 19 Sep 02, 2026
OBDC Blue Owl Capital Corporation $11.36 $5.64B 10.92% Forward estimate 12.68% 262.27% Quarterly 0 7 Aug 31, 2026
TRIN Trinity Capital Inc. $18.70 $1.68B 10.91% Forward estimate 11.82% 128.73% Monthly 0 6 Sep 10, 2026
HTGC Hercules Capital, Inc. $17.59 $3.29B 10.69% Forward estimate 11.09% 87.93% Quarterly 0 21
OCSL Oaktree Specialty Lending Corporation $13.15 $1.16B 10.34% Forward estimate 11.71% 272.91% Quarterly 0 18 Sep 15, 2026
GBDC Golub Capital BDC, Inc. $13.11 $3.42B 10.07% Forward estimate 10.98% 214.63% Quarterly 0 16 Sep 14, 2026
TSLX Sixth Street Specialty Lending, Inc. $18.98 $1.80B 9.96% Trailing 12 months 9.96% 177.03% 0 12 Sep 15, 2026
SLRC SLR Investment Corp. $12.60 $687.39M 9.84% Forward estimate 12.22% 113.90% Quarterly 0 16 Sep 11, 2026
ARCC Ares Capital Corporation $19.93 $14.31B 9.63% Forward estimate 9.63% 138.44% Quarterly 0 22 Sep 15, 2026
CSWC Capital Southwest Corporation $25.21 $1.57B 9.21% Forward estimate 10.16% 136.85% Monthly 0 41 Sep 15, 2026
GLAD Gladstone Capital Corporation $19.84 $448.25M 9.07% Forward estimate 8.82% 87.33% Monthly 0 20 Sep 21, 2026
GAIN Gladstone Investment Corp. $16.49 $656.66M 5.82% Forward estimate 5.82% 40.26% Monthly 0 19 Sep 21, 2026
MAIN Main Street Capital Corporation $58.54 $5.44B 5.43% Forward estimate 7.36% 77.33% Monthly 0 18 Sep 08, 2026

Data as of Aug 25, 2026.

Prices last refreshed Aug 25, 2026; the yields, cadences and streaks derived from them Aug 25, 2026. No figure in this table is a live quote.

A research screen, not a recommendation
This is a research screen, not a recommendation and not a ranking of quality. A filter describes what a security is; the sort order is a filter too, not an opinion. A security at the top of a yield sort is the one paying the most relative to its price today, which is as often a market judgement about risk as it is an opportunity.

What this screener is for

This screen exists to put the listed private-credit vehicles side by side on what is knowable from public market data: what each one distributes relative to its price, how large it is, how often it pays, and how long a payment record it has. A BDC is a listed company that lends to private middle-market businesses and must distribute at least 90% of its taxable income to keep its tax treatment, which is why the yields in this universe start where most equity yields end. See business development companies, private credit funds.

The high yield is compensation for something specific: the loans are to companies too small or too leveraged to issue public bonds, most are floating rate, and many BDCs borrow to lend. The payment record column is here because in this universe the useful question is not who yields most today, but who was still paying through the last credit cycle.

What it cannot tell you

  • The payout ratio column is against GAAP earnings per share, and for a BDC that is the wrong denominator. The industry measure is net investment income, and coverage swings with unrealised marks on the loan book that never touch cash. A BDC showing 130% here may be covering its base distribution comfortably out of net investment income, and one showing 70% may not be. This database does not hold net investment income. See payout ratio, distribution coverage.
  • It holds no net asset value, so it cannot show whether a BDC trades above or below the book value of its loans — one of the two figures the sector is actually argued about.
  • It holds nothing about the loan book: non-accruals, sector concentration, first-lien share, payment-in-kind income, or the leverage the BDC itself runs. Those are in the quarterly filing.
  • Supplemental and variable distributions are excluded from the annualised figure by design, so a BDC that has been paying large supplementals will show a lower yield here than its recent cash suggests. The trailing twelve-month column includes them, which is why the two columns can differ widely.
  • Rising years are counted only inside the payment history stored here, which begins wherever the data provider's does. It is not a company record.

These definitions cover every column this screen can show, including the specialist ones hidden from the table above. Read the yield entry first. Which payment went into the figure, and over what period, is what the number actually means — and two yields computed on different bases are not comparable with each other, even though both are printed as a percentage.

What each column means

Yield (annualised — basis per row)
The annual distribution over the latest stored price. Forward where the payment cadence is established, trailing twelve months where it is not, with supplementals stripped out of the annualisation.
Payout (GAAP EPS)
Distribution as a percentage of GAAP earnings per share. Blank where no ratio is stored. Read the limitation above before using it. See payout ratio.
Rising yrs (our history)
Consecutive completed calendar years in which the largest regular payment exceeded the previous year's, counted across stored history only. A trailing '+' marks a run that reaches the first year we hold, making the figure a floor rather than a total.
Years paying (our history)
Completed calendar years with at least one payment in the stored history.

Where these numbers come from

Nothing on this page is a live quote. Prices are the most recent stored observation from the daily quote job, and every yield is computed against that stored price. Securities that have stopped trading — redeemed, matured, delisted or acquired — keep their history in the database but are excluded from every screen, because a vendor keeps quoting the last trade that ever happened and annualising against it invents a yield.

Securities whose last twelve months are dominated by a one-off payment, or that have too few payments on record to establish a rate, are marked 'irregular' by the compute job and are excluded from every screen here. The figure they would produce describes a single event rather than an income stream.

What can go wrong here — private credit
A BDC's income comes from loans to private companies that could not or would not issue public debt. When those borrowers stop paying, the loan goes on non-accrual, net investment income falls and the distribution follows; the sector's history includes distribution cuts of half or more. Most BDCs borrow to lend, so a fall in the value of the loan book hits shareholders' equity several times harder than it hits the assets. Most loans float, so income falls when short rates fall while the borrowing cost may not. The shares themselves trade at a market price that can sit far below the stated value of the loans for years at a time, and payment-in-kind income — interest added to the loan balance rather than paid in cash — can flatter reported earnings while no cash arrives.

Curated lists from this screener

Questions about this screen

Why are BDC yields so much higher than dividend stock yields?
Two structural reasons and one risk reason. Structurally, a BDC is a pass-through: it must distribute at least 90% of its taxable income to keep its regulated investment company tax treatment, so almost everything it earns leaves as a distribution, and most of what it earns is interest rather than corporate profit. The risk reason is that the loans are to companies without access to the public bond market, usually floating rate and often leveraged.
Is a BDC distribution taxed like a dividend?
Mostly not. The bulk of a BDC distribution is ordinary income, taxed at your marginal rate, because it is interest passed through rather than qualified corporate dividends. Portions can be qualified dividends, long-term capital gain or return of capital, and the split arrives on the 1099-DIV after year end.
What does a payout ratio above 100% mean for a BDC?
Less than it would for an industrial company, because the denominator is wrong. GAAP earnings for a BDC include unrealised marks on the loan portfolio that never touch cash, so the ratio swings with valuations rather than with the cash available to distribute. The measure the sector uses is net investment income, and this database does not hold it — the quarterly filing does.
What is a supplemental distribution?
A payment on top of the regular base distribution, common when net investment income runs above the base rate. It is discretionary and it stops when income falls, so this screen deliberately does not annualise it: a payment well above the recent norm is treated as a supplemental, and the base payment is annualised instead. The trailing twelve-month column still includes every dollar paid.

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