Deepest NAV Discount BDCs
BDCs ranked by deepest discount to net asset value (NAV). A discount to NAV means the market price is below the per-share value of the BDC's investment portfolio, which can signal a value opportunity — or reflect underlying credit risk in the loan book.
Last updated: 07/18/2026
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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.
NAV Discount Rankings
| Rank | Ticker | Name | Premium/Discount | NAV | Stock Price | Dividend Yield |
|---|---|---|---|---|---|---|
| 1 | PSEC | Prospect Capital Corporation | -67.1% | $6.85 | $2.25 | 23.1% |
| 2 | CION | CION Investment Corporation | -58.7% | $14.8 | $6.11 | 23.2% |
| 3 | GECC | Great Elm Capital Corp. | -55.9% | $12.1 | $5.34 | 24.2% |
| 4 | PNNT | PennantPark Investment Corporation | -52.8% | $7.1 | $3.35 | 28.7% |
| 5 | HRZN | Horizon Technology Finance Corporation | -47.6% | $8.9 | $4.66 | 24.3% |
| 6 | SCM | Stellus Capital Investment Corporation | -45.2% | $13.9 | $7.61 | 19.4% |
| 7 | CCAP | Crescent Capital BDC, Inc. | -42.7% | $19.3 | $11.05 | 15.2% |
| 8 | TPVG | TriplePoint Venture Growth BDC Corp. | -42.3% | $8.2 | $4.73 | 19.9% |
| 9 | NMFC | New Mountain Finance Corporation | -40.2% | $11.9 | $7.11 | 17% |
| 10 | OXSQ | Oxford Square Capital Corp. | -39.2% | $2.4 | $1.46 | 28.8% |
| 11 | CGBD | Carlyle Secured Lending, Inc. | -35.5% | $16.2 | $10.45 | 14.8% |
| 12 | MFIC | MidCap Financial Investment Corporation | -34.8% | $15 | $9.78 | 14.1% |
| 13 | GSBD | Goldman Sachs BDC, Inc. | -34.6% | $13.5 | $8.83 | 17.4% |
| 14 | SAR | Saratoga Investment Corp. | -30.2% | $28.1 | $19.61 | 16.6% |
| 15 | NCDL | Nuveen Churchill Direct Lending Corp. | -27.5% | $17.5 | $12.69 | 13.2% |
| 16 | PFLT | PennantPark Floating Rate Capital Ltd. | -26.8% | $9.9 | $7.25 | 16.5% |
| 17 | OBDC | Blue Owl Capital Corporation | -26% | $14.85 | $10.99 | 13.1% |
| 18 | BBDC | Barings BDC, Inc. | -23.4% | $11.1 | $8.5 | 12.8% |
| 19 | BCSF | Bain Capital Specialty Finance, Inc. | -23.1% | $16.5 | $12.69 | 14.9% |
| 20 | MSDL | Morgan Stanley Direct Lending Fund | -21.9% | $19.8 | $15.46 | 12.3% |
| 21 | BXSL | Blackstone Secured Lending Fund | -21.8% | $30.45 | $23.82 | 12.9% |
| 22 | SLRC | SLR Investment Corp. | -20.5% | $16.5 | $13.12 | 11.7% |
| 23 | OCSL | Oaktree Specialty Lending Corporation | -19.5% | $15.1 | $12.15 | 12.7% |
| 24 | TSLX | Sixth Street Specialty Lending, Inc. | -15.5% | $20.65 | $17.44 | 10.8% |
| 25 | GBDC | Golub Capital BDC, Inc. | -14.1% | $15.2 | $13.06 | 11% |
| 26 | FSK | FS KKR Capital Corp. II | -11.1% | $12.3 | $10.93 | 21% |
| 27 | HTGC | Hercules Capital, Inc. | -3.7% | $16.8 | $16.17 | 11.6% |
| 28 | ARCC | Ares Capital Corporation | -1.1% | $19.38 | $19.17 | 10% |
| 29 | GLAD | Gladstone Capital Corporation | 3.7% | $19.2 | $19.91 | 9.8% |
| 30 | FDUS | Fidus Investment Corporation | 3.9% | $19.6 | $20.36 | 10.9% |
| 31 | CSWC | Capital Southwest Corporation | 10% | $22.1 | $24.3 | 10.5% |
| 32 | GAIN | Gladstone Investment Corporation | 19.9% | $13.8 | $16.54 | 5.8% |
| 33 | TRIN | Trinity Capital Inc. | 35.2% | $13.15 | $17.78 | 12.4% |
| 34 | MAIN | Main Street Capital Corporation | 43.8% | $38.5 | $55.37 | 7.8% |