NYSE: KBDC
Kayne Anderson BDC, Inc.CIK 0001747172
Large by assets
Assets $2.3B
as of Sep 27, 2026
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10-Q
Filed Aug 10, 2026
· Period ending Jun 30, 2026
Q2 net income -57% to $10.7M
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8-K
Filed Aug 10, 2026
· Period ending Aug 10, 2026
Summary not yet generated.
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8-K
Filed Jul 9, 2026
· Period ending Jul 9, 2026
Summary not yet generated.
8-K
Filed Jun 29, 2026
· Period ending Jun 29, 2026
Summary not yet generated.
8-K
Filed Jun 16, 2026
· Period ending Jun 11, 2026
Summary not yet generated.
10-Q
Filed May 11, 2026
· Period ending Mar 31, 2026
Summary not yet generated.
10-K
Filed Mar 2, 2026
· Period ending Dec 31, 2025
Summary not yet generated.
10-Q
Filed Aug 11, 2025
· Period ending Jun 30, 2025
Summary not yet generated.
10-K
Filed Mar 3, 2025
· Period ending Dec 31, 2024
Summary not yet generated.
424B1
Filed May 23, 2024
Summary not yet generated.
Latest financial statements
From 10-Q filed Aug 10, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Operations (Unaudited)
(amounts in 000’s, except share and per share amounts)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Income: | ||||
| Investment income from investments: | ||||
| Interest income from non-controlled, non-affiliated investments | 49,730 | 55,057 | 99,476 | 109,765 |
| Interest income from non-controlled, affiliated investments | 3,086 | - | 6,080 | - |
| Payment-in-kind interest income from non-controlled, non-affiliated investments | 2,501 | 2,063 | 6,774 | 2,369 |
| Dividend income | 386 | 178 | 698 | 409 |
| Total Investment Income | 55,703 | 57,298 | 113,028 | 112,543 |
| Expenses: | ||||
| Management fees | 5,561 | 5,412 | 10,977 | 10,543 |
| Incentive fees | 1,895 | 4,452 | 5,006 | 8,942 |
| Interest expense | 19,609 | 18,384 | 38,469 | 35,509 |
| Professional fees | 328 | 368 | 642 | 713 |
| Directors fees | 164 | 158 | 328 | 316 |
| Excise tax expense (benefit) | - | - | (11) | (43) |
| Other general and administrative expenses | 585 | 603 | 1,160 | 1,184 |
| Total Expenses | 28,142 | 29,377 | 56,571 | 57,164 |
| Less: Management fee waiver (Note 3) | - | (788) | - | (2,071) |
| Net expenses | 28,142 | 28,589 | 56,571 | 55,093 |
| Net Investment Income (Loss) | 27,561 | 28,709 | 56,457 | 57,450 |
| Realized and unrealized gains (losses) on investments | ||||
| Net realized gains (losses): | ||||
| Non-controlled, non-affiliated investments | (12,221) | (10) | (14,468) | 556 |
| Total net realized gains (losses) | (12,221) | (10) | (14,468) | 556 |
| Net change in unrealized gains (losses): | ||||
| Non-controlled, non-affiliated investments | (3,408) | (1,564) | (10,414) | (8,057) |
| Non-controlled, affiliated investments | (478) | (1,907) | (157) | (1,925) |
| Controlled, affiliated investments | (716) | - | (3,052) | - |
| Total net change in unrealized gains (losses) | (4,602) | (3,471) | (13,623) | (9,982) |
| Total realized and unrealized gains (losses) | (16,823) | (3,481) | (28,091) | (9,426) |
| Income tax (expense) benefit on unrealized appreciation/depreciation on investments | (21) | (318) | (408) | (899) |
| Net Increase in Net Assets Resulting from Operations | 10,717 | 24,910 | 27,958 | 47,125 |
| Basic and diluted net investment income per share | 0.42 | 0.40 | 0.85 | 0.81 |
| Basic and diluted net increase in net assets resulting from operations per share | 0.16 | 0.35 | 0.42 | 0.66 |
| Weighted Average Common Shares Outstanding Basic and Diluted | 66,347,339 | 70,901,688 | 66,743,644 | 71,067,266 |
Consolidated Statements of Assets and Liabilities
(amounts in 000’s, except share and per share amounts)
| Description | June 30, 2026 (Unaudited) | June 30, 2026 December 31, 2025 |
|---|---|---|
| Assets: | ||
| Portfolio company investments, at fair value: | ||
| Non-controlled, non-affiliated investments (amortized cost of $2,128,442 and $2,079,041) | 2,131,279 | 2,084,737 |
| Non-controlled, affiliated investments (amortized cost of $130,651 and $118,459) | 125,719 | 113,684 |
| Controlled, affiliated investments (amortized cost of $20,228 and $0) | 9,620 | - |
| Total portfolio company investments, at fair value (amortized cost of $2,279,321 and $2,197,500) | 2,266,618 | 2,198,421 |
| Investments in money market funds (amortized cost of $25,184 and $25,409) | 25,184 | 25,409 |
| Cash | 14,519 | 18,027 |
| Deposits for investments | - | 13,015 |
| Receivable for sales of investments | 10,303 | 7,168 |
| Receivable for principal payments on investments | 407 | 308 |
| Interest receivable | 24,196 | 24,063 |
| Prepaid expenses and other assets | 531 | 291 |
| Total Assets | 2,341,758 | 2,286,702 |
| Liabilities: | ||
| Corporate Credit Facility (Note 6) | 230,000 | 135,000 |
| Unamortized Corporate Credit Facility issuance costs | (2,921) | (3,372) |
| Revolving Funding Facility (Note 6) | 540,000 | 525,000 |
| Unamortized Revolving Funding Facility issuance costs | (6,069) | (4,671) |
| Revolving Funding Facility II (Note 6) | 193,000 | 195,000 |
| Unamortized Revolving Funding Facility II issuance costs | (1,838) | (2,100) |
| Notes (Note 6) | 272,099 | 274,701 |
| Unamortized notes issuance costs | (2,162) | (2,560) |
| Shares repurchased payable (Note 7) | 97 | 496 |
| Distributions payable | 26,490 | 27,213 |
| Management fee payable (Note 3) | 5,561 | 5,613 |
| Incentive fee payable (Note 3) | 1,895 | 3,935 |
| Accrued expenses and other liabilities | 25,954 | 22,041 |
| Accrued excise tax expense | - | 475 |
| Total Liabilities | 1,282,106 | 1,176,771 |
| Commitments and contingencies (Note 8) | ||
| Net Assets: | ||
| Common Shares, $0.001 par value; 100,000,000 shares authorized; 66,216,562 and 67,998,184 as of June 30, 2026 and December 31, 2025 respectively, issued and outstanding | 66 | 68 |
| Additional paid-in capital | 1,082,851 | 1,108,001 |
| Total distributable earnings (deficit) | (23,265) | 1,862 |
| Total Net Assets | 1,059,652 | 1,109,931 |
| Total Liabilities and Net Assets | 2,341,758 | 2,286,702 |
| Net Asset Value Per Common Share | 16.00 | 16.32 |
Consolidated Statements of Cash Flows (Unaudited)
(amounts in 000’s)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash Flows from Operating Activities: | ||
| Net increase (decrease) in net assets resulting from operations | 27,958 | 47,125 |
| Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities: | ||
| Net realized (gains)/losses on investments | 14,468 | (556) |
| Net change in unrealized (gains)/losses on investments | 13,623 | 9,982 |
| Net accretion of discount on investments | (6,273) | (6,725) |
| Sales (purchases) of investments in money market funds, net | 225 | 18,316 |
| Purchases of portfolio investments | (227,440) | (412,297) |
| Proceeds from sales of investments and principal repayments | 148,389 | 232,592 |
| Paid-in-kind interest from portfolio investments | (6,774) | (2,369) |
| Amortization of deferred financing cost | 2,237 | 1,855 |
| Increase/(decrease) in operating assets and liabilities: | ||
| (Increase)/decrease in deposits for investments | 13,015 | - |
| (Increase)/decrease in receivable for sales of investments | (3,135) | (14,813) |
| (Increase)/decrease in interest and dividends receivable | (4,324) | (6,488) |
| (Increase)/decrease in receivable for principal payments on investments | (99) | (75) |
| Increase/(decrease) in accrued excise tax expense | (475) | (825) |
| (Increase)/decrease in prepaid expenses and other assets | (240) | 719 |
| Increase/(decrease) in management fees payable | (52) | 912 |
| Increase/(decrease) in incentive fee payable | (2,040) | 4,452 |
| Increase/(decrease) in accrued expenses and other liabilities | 1,311 | 3,391 |
| Net cash provided by (used in) operating activities | (29,626) | (124,804) |
| Cash Flows from Financing Activities: | ||
| Borrowings/(payments) on Corporate Credit Facility, net | 95,000 | (26,000) |
| Borrowings/(payments) on Revolving Funding Facility, net | 15,000 | 154,000 |
| Borrowings/(payments) on Revolving Funding Facility II, net | (2,000) | 68,000 |
| Payments of debt issuance costs | (2,523) | (3,507) |
| Change in payable for shares repurchased | (399) | 193 |
| Dividends paid in cash | (53,808) | (67,116) |
| Repurchase of common shares | (25,152) | (9,153) |
| Net cash provided by (used in) financing activities | 26,118 | 116,417 |
| Net increase (decrease) in cash | (3,508) | (8,387) |
| Cash, beginning of period | 18,027 | 22,375 |
| Cash, end of period | 14,519 | 13,988 |
| Supplemental and Non-Cash Information: | ||
| Interest paid during the period | 34,774 | 31,180 |
| Non-cash financing activities not included herein consisted of reinvestment of dividends | - | 4,027 |
Amounts as printed on the EDGAR/iXBRL face — (amounts in 000’s, except share and per share amounts); (amounts in 000’s). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗