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: 11/04/2026
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NAV Discount Rankings
| Rank | Ticker | Name | Premium/Discount | NAV | Stock Price | Dividend Yield |
|---|---|---|---|---|---|---|
| 1 | PSEC | Prospect Capital Corporation | -77.4% | $6.85 | $1.55 | 31% |
| 2 | OXSQ | Oxford Square Capital Corp. | -61.6% | $2.4 | $0.92 | 45.6% |
| 3 | GECC | Great Elm Capital Corp. | -58.4% | $12.1 | $5.03 | 23.3% |
| 4 | HRZN | Horizon Technology Finance Corporation | -56.6% | $8.9 | $3.86 | 27.7% |
| 5 | PNNT | PennantPark Investment Corporation | -56.5% | $7.1 | $3.09 | 31.1% |
| 6 | CION | CION Investment Corporation | -53.8% | $14.8 | $6.83 | 19.9% |
| 7 | SAR | Saratoga Investment Corp. | -51.6% | $28.1 | $13.6 | 23.9% |
| 8 | CCAP | Crescent Capital BDC, Inc. | -51.5% | $19.3 | $9.35 | 16.9% |
| 9 | SCM | Stellus Capital Investment Corporation | -48.8% | $13.9 | $7.12 | 17.9% |
| 10 | TPVG | TriplePoint Venture Growth BDC Corp. | -45.1% | $8.2 | $4.5 | 22.2% |
| 11 | NMFC | New Mountain Finance Corporation | -41.1% | $11.9 | $7.01 | 16.3% |
| 12 | GSBD | Goldman Sachs BDC, Inc. | -34.6% | $13.5 | $8.83 | 15.6% |
| 13 | BCSF | Bain Capital Specialty Finance, Inc. | -34.1% | $16.5 | $10.88 | 17.1% |
| 14 | CGBD | Carlyle Secured Lending, Inc. | -33.5% | $16.2 | $10.78 | 13.9% |
| 15 | NCDL | Nuveen Churchill Direct Lending Corp. | -31.9% | $17.5 | $11.91 | 13.5% |
| 16 | PFLT | PennantPark Floating Rate Capital Ltd. | -31.4% | $9.9 | $6.79 | 16.7% |
| 17 | MFIC | MidCap Financial Investment Corporation | -31.3% | $15 | $10.3 | 12.7% |
| 18 | OBDC | Blue Owl Capital Corporation | -29.3% | $14.85 | $10.5 | 13.1% |
| 19 | MSDL | Morgan Stanley Direct Lending Fund | -29.1% | $19.8 | $14.04 | 13.2% |
| 20 | SLRC | SLR Investment Corp. | -28.5% | $16.5 | $11.8 | 12.2% |
| 21 | BXSL | Blackstone Secured Lending Fund | -23.7% | $30.45 | $23.22 | 13.3% |
| 22 | BBDC | Barings BDC, Inc. | -21.7% | $11.1 | $8.69 | 12% |
| 23 | OCSL | Oaktree Specialty Lending Corporation | -19.2% | $15.1 | $12.2 | 12% |
| 24 | GBDC | Golub Capital BDC, Inc. | -16.2% | $15.2 | $12.74 | 10.8% |
| 25 | TSLX | Sixth Street Specialty Lending, Inc. | -13.3% | $20.65 | $17.9 | 10.1% |
| 26 | FSK | FS KKR Capital Corp. II | -9.5% | $12.3 | $11.13 | 18.3% |
| 27 | HTGC | Hercules Capital, Inc. | -2.3% | $16.8 | $16.41 | 11.5% |
| 28 | ARCC | Ares Capital Corporation | -1.9% | $19.38 | $19.01 | 10.1% |
| 29 | FDUS | Fidus Investment Corporation | -0.9% | $19.6 | $19.43 | 11% |
| 30 | GLAD | Gladstone Capital Corporation | -0.3% | $19.2 | $19.15 | 10.3% |
| 31 | CSWC | Capital Southwest Corporation | 5.2% | $22.1 | $23.25 | 11% |
| 32 | GAIN | Gladstone Investment Corporation | 9.4% | $13.8 | $15.1 | 6.4% |
| 33 | TRIN | Trinity Capital Inc. | 29.7% | $13.15 | $17.05 | 13% |
| 34 | MAIN | Main Street Capital Corporation | 46.3% | $38.5 | $56.33 | 7.7% |