Welcome to our dedicated page for Kayne Anderson BDC SEC filings (Ticker: KBDC), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Kayne Anderson BDC, Inc. filings document the regulatory disclosures of a NYSE-listed business development company that invests mainly in middle-market credit. The record includes 8-K reports for operating results, earnings-call materials, Regulation FD announcements, material definitive agreements, senior unsecured notes, interest-rate swaps and equity distribution arrangements.
Proxy materials cover director elections and auditor ratification, while registration-related disclosures describe common stock issuance mechanics under its shelf registration framework. The filings also address KBDC's BDC structure, external management by KA Credit Advisors, LLC, capital structure, governance matters and recurring financial reporting for its loan portfolio.
Koch Companies Defined Benefit Master Trust (Koch Pension) and Koch, Inc. report beneficial ownership of common stock of Kayne Anderson BDC, Inc. Amendment No. 3 states that Koch Pension holds 8,700,507 Public Shares of common stock, par value $0.001 per share.
These 8,700,507 shares represent 13.2% of the Public Shares of Kayne Anderson BDC, Inc., based on 66,037,810 Public Shares deemed outstanding as of August 5, 2026, as referenced in the company’s Quarterly Report on Form 10-Q. Both Koch Pension and Koch, Inc. report sole voting and sole dispositive power over the 8,700,507 shares, with no shared voting or dispositive power.
Kayne Anderson BDC, Inc. reported second quarter 2026 results with net investment income (NII) of $27.6 million, or $0.42 per share, slightly above its regular quarterly dividend of $0.40 per share. Annualized return on equity based on NII was 10.5%. The board declared a third quarter 2026 dividend of $0.40 per share, payable on October 16, 2026 to shareholders of record on September 30, 2026.
At June 30, 2026, total assets were $2.34 billion and the investment portfolio at fair value was $2.27 billion across 104 portfolio companies, with about 93% in first-lien senior secured debt and 95.3% floating-rate exposure. Net asset value was $1.06 billion, or $16.00 per share, modestly lower than the prior quarter, reflecting $12.2 million of realized losses and $4.6 million of net unrealized losses, partly from liquidations, restructurings, and exiting broadly syndicated loans.
Total debt outstanding was $1.24 billion, giving a debt-to-equity ratio of 1.17x, within the company’s 1.0x–1.25x target range, and the asset coverage ratio was 186%. Non-accrual investments were $59.1 million at fair value, or 2.7% of debt investments. Liquidity included $39.7 million of cash and $437 million of undrawn committed debt capacity.
KBDC holds a highly diversified portfolio of primarily first lien senior secured loans to middle-market companies across many sectors, including food products, health care, industrials, commercial services, containers and packaging, building products, and telecommunications. Most loans reference floating benchmarks such as SOFR (daily simple, monthly, or quarterly) or PRIME, with contractual spreads typically in the mid-single- to high-single-digit range.
The portfolio includes term loans, revolving credit facilities, and delayed draw structures, many with maturities extending into the late 2020s and early 2030s, indicating a long-dated income stream. Several investments incorporate PIK (payment-in-kind) components in addition to cash interest. Alongside debt holdings, the company also owns equity stakes in numerous borrowers, including common, preferred, and membership units, as well as convertible notes. Short-term liquidity is supported by positions in institutional money market funds.
Kayne Anderson BDC, Inc. filed an 8-K to inform investors about its upcoming second-quarter 2026 earnings release and conference call. The company plans to publish results for the quarter ended June 30, 2026 after markets close on August 10, 2026.
Management will host an earnings call on August 11, 2026 at 10:00 a.m. Eastern Time to review the results, with access provided via telephone dial-in and webcast. The filing notes this information is furnished under Regulation FD, not filed, and includes a press release describing Kayne Anderson BDC’s focus on first lien senior secured lending to middle market companies.
Kayne Anderson BDC, Inc. reported that Albert Rabil III resigned from its Board of Directors effective immediately on June 29, 2026. He was an “interested” director under the Investment Company Act of 1940 due to his employment with Kayne Anderson Capital Advisors, L.P.
His Class III board term would otherwise have run until the 2029 annual stockholder meeting. The company states that his resignation was not due to any disagreement regarding operations, policies, or practices. After his departure, the Board consists of six directors, including four Independent Directors who are not “interested” persons under the 1940 Act.
Kayne Anderson BDC, Inc. held its 2026 Annual Meeting of Stockholders on June 11, 2026, where all proposals were approved. Stockholders elected Albert (Al) Rabil III and Susan C. Schnabel as directors for three-year terms ending at the 2029 annual meeting.
Rabil received 41,616,226 votes for and 259,190 against, while Schnabel received 40,815,781 votes for and 1,060,128 against, with relatively few abstentions and broker non-votes. Stockholders also ratified PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2026.
Kayne Anderson BDC, Inc. reported first quarter 2026 net investment income of $28.9 million, or $0.43 per share, modestly ahead of its regular dividend of $0.40 per share. Total investment income was $57.3 million, down from $61.9 million in the prior quarter, mainly due to lower reference rates and reduced fee income from realizations.
Net asset value per share slipped to $16.23 from $16.32 as realized losses of $2.3 million and $9.0 million of net unrealized losses offset earnings. The portfolio had $2.19 billion of investments at fair value across 105 companies, with about 93% in first-lien debt and a weighted average debt yield of 10.1% excluding non‑income producing assets. Non‑accruals rose to 2.5% of debt investments at fair value.
The company declared a second quarter 2026 dividend of $0.40 per share, payable on July 16, 2026 to stockholders of record on June 30, 2026, implying a regular dividend yield of about 9.9% on quarter‑end NAV. Debt outstanding totaled $1.14 billion, resulting in a debt‑to‑equity ratio of 1.05x and an asset coverage ratio of 195%, within the targeted leverage range.
KBDC provides a detailed look at its investment portfolio, which is heavily focused on first lien senior secured loans across sectors such as food products, health care providers and services, commercial services and supplies, machinery, and building products. Many positions are floating-rate loans referencing SOFR or PRIME with contractual spreads typically in the mid-single to high-single digits.
The portfolio also includes revolving and delayed draw facilities, some with payment-in-kind (PIK) features, and a range of stated interest rates, from mid‑single digits on large, higher‑quality names to double‑digit coupons like 14.07% for American Soccer Company and 11.99% for PMFC Holding. Maturities are generally staggered between 2026 and 2031, and KBDC also holds multiple equity stakes and preferred units in portfolio companies, particularly in the food products and commercial services segments. Overall, the filing emphasizes a diversified, predominantly senior secured, income‑oriented credit book with supplementary equity upside.
Kayne Anderson BDC, Inc. (KBDC) and Kayne DL 2021, Inc. (KDL) are holding a combined virtual 2026 annual stockholder meeting on June 11, 2026 at 11:00 a.m. Central Time. Stockholders of record on April 13, 2026 can vote online, by phone, mail, or during the meeting.
For both companies, investors are asked to elect two directors, Albert (Al) Rabil III and Susan C. Schnabel, to three‑year terms through the 2029 annual meeting, and to ratify PricewaterhouseCoopers LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026. All boards, including independent directors, unanimously recommend voting “FOR” all proposals.
The proxy details board composition, committee roles, director compensation (independent directors of KBDC received up to $168,500 in 2025), and that executives are compensated by affiliated advisers rather than directly by the companies. It also discloses major shareholders, with the largest KBDC holder owning 18.3% of outstanding common stock.
Kayne Anderson BDC, Inc. is scheduling the release of its first quarter 2026 financial results and an accompanying earnings call. The company plans to publish results for the quarter ended March 31, 2026 on May 11, 2026 after markets close, then host a conference call on May 12, 2026 at 10:00 a.m. Eastern Time to review the numbers. A telephone replay will be available through May 19, 2026 for investors who cannot listen live.