Healthcare Sector BDCs
31 publicly traded Business Development Companies with material exposure to the Healthcare sector, ranked by live forward dividend yield.
Last updated: 09/04/2026
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Not Investment Advice: This comparison is for educational and informational purposes only. Nothing here constitutes a recommendation, solicitation, or investment advice to buy or sell any security. Past performance does not guarantee future results. Always conduct your own due diligence and consult a licensed financial advisor.
Dividend Rankings for Healthcare BDCs
| Rank | Ticker | Name | Dividend Yield | Annual/Share | Frequency | Stock Price |
|---|---|---|---|---|---|---|
| 1 | OXSQ | Oxford Square Capital Corp. | 31.1% | $0.43 | Quarterly | $1.35 |
| 2 | PNNT | PennantPark Investment Corporation | 25.7% | $0.48 | Quarterly | $3.74 |
| 3 | HRZN | Horizon Technology Finance Corporation | 22.9% | $0.71 | Monthly | $4.84 |
| 4 | PSEC | Prospect Capital Corporation | 22.4% | $0.7 | Monthly | $2.23 |
| 5 | GECC | Great Elm Capital Corp. | 21.5% | $1.03 | Quarterly | $6 |
| 6 | FSK | FS KKR Capital Corp. II | 18.5% | $1.71 | Quarterly | $12.44 |
| 7 | SAR | Saratoga Investment Corp. | 18.4% | $3 | Quarterly | $17.64 |
| 8 | NMFC | New Mountain Finance Corporation | 16.2% | $1.01 | Quarterly | $7.48 |
| 9 | CCAP | Crescent Capital BDC, Inc. | 16% | $1.34 | Quarterly | $10.37 |
| 10 | BCSF | Bain Capital Specialty Finance, Inc. | 16% | $1.68 | Quarterly | $11.82 |
| 11 | PFLT | PennantPark Floating Rate Capital Ltd. | 15.9% | $0.96 | Quarterly | $7.39 |
| 12 | CION | CION Investment Corporation | 15.8% | $1.21 | Quarterly | $7.34 |
| 13 | SCM | Stellus Capital Investment Corporation | 15.7% | $1.36 | Monthly | $8.78 |
| 14 | GSBD | Goldman Sachs BDC, Inc. | 15.4% | $1.29 | Quarterly | $9.98 |
| 15 | MFIC | MidCap Financial Investment Corporation | 14.4% | $1.25 | Quarterly | $9.62 |
| 16 | NCDL | Nuveen Churchill Direct Lending Corp. | 13.4% | $1.43 | Quarterly | $12.52 |
| 17 | CGBD | Carlyle Secured Lending, Inc. | 13.3% | $1.42 | Quarterly | $11.69 |
| 18 | OBDC | Blue Owl Capital Corporation | 12.6% | $1.44 | Quarterly | $11.4 |
| 19 | BXSL | Blackstone Secured Lending Fund | 12.5% | $2.62 | Quarterly | $24.72 |
| 20 | MSDL | Morgan Stanley Direct Lending Fund | 12.5% | $1.81 | Quarterly | $15.25 |
| 21 | SLRC | SLR Investment Corp. | 12.3% | $1.45 | Quarterly | $12.57 |
| 22 | OCSL | Oaktree Specialty Lending Corporation | 11.8% | $1.21 | Quarterly | $13.06 |
| 23 | BBDC | Barings BDC, Inc. | 11.5% | $1.05 | Quarterly | $9.02 |
| 24 | FDUS | Fidus Investment Corporation | 11.3% | $1.93 | Quarterly | $19.63 |
| 25 | GBDC | Golub Capital BDC, Inc. | 11.1% | $1.4 | Quarterly | $13 |
| 26 | HTGC | Hercules Capital, Inc. | 10.7% | $1.86 | Quarterly | $17.63 |
| 27 | CSWC | Capital Southwest Corporation | 10.4% | $1.99 | Quarterly | $24.58 |
| 28 | TSLX | Sixth Street Specialty Lending, Inc. | 10% | $2.01 | Quarterly | $18.38 |
| 29 | ARCC | Ares Capital Corporation | 9.6% | $1.92 | Quarterly | $20.04 |
| 30 | GLAD | Gladstone Capital Corporation | 9.5% | $1.8 | Monthly | $20.1 |
| 31 | MAIN | Main Street Capital Corporation | 7.5% | $3.24 | Monthly | $57.68 |
How to Evaluate Healthcare BDCs
When evaluating healthcare-focused BDCs, prioritize these signals:
- Dividend coverage: NII should comfortably exceed the distribution to indicate sustainability across market cycles.
- Portfolio diversification: Exposure to a single sector concentrates risk; check that the BDC caps any one issuer's weight responsibly.
- NAV stability: A history of stable or rising net asset value signals disciplined underwriting.
- Leverage: Lower leverage ratios cushion sector-specific drawdowns.