Kayne Anderson BDC: My Largest Externally Managed BDC Delivered Again

Kayne Anderson BDC remains my high conviction externally managed BDC pick, with significant personal exposure and ongoing dividend reinvestment. KBDC has maintained a stable dividend and resilient NAV per share, outperforming many BDC peers despite sector-wide pressures. The company's limited SaaS exposure and strong fundamentals have driven recent alpha performance relative to the BDC index.