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Source document· March 13, 2026

These BDCs Yield Up to 15.6%. But Can We Trust Them?

View original at nasdaq.com
These BDCs Yield Up to 15.6%. But Can We Trust Them? This high-yield sector is being taken to the woodshed by the Wall Street spreadsheet jockeys this year…
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  • Because of the asset-light nature of software businesses, lenders risk getting very little of value in future bankruptcies

    60% confidence

  • Our run rate NII is projected to cover our current dividend as we ramp the PSSL II portfolio

    60% confidence

  • The average BDC's software exposure is about 20%

    60% confidence

  • Goldman Sachs BDC exited an eight-year software loan with no signs of deterioration at $0.99 on the dollar to get ahead of future AI disruption

    60% confidence

  • The average BDC has roughly 5%-10% equity exposure, but Gladstone Investment's target mix is 75% debt/25% equity

    60% confidence

  • PennantPark's run rate NII is projected to cover current dividend as they ramp the PSSL II portfolio

    60% confidence

  • Because of the asset-light nature of software businesses, lenders risk getting very little of value in future bankruptcies

    60% confidence

  • SLRC's assets can be viewed as a more attractive alternative relative to increasing investor concerns about private market industry exposure to software companies

    60% confidence

  • Goldman Sachs BDC exited a software loan with no signs of deterioration for $0.99 on the dollar to get ahead of future AI disruption

    60% confidence

  • The average BDC has roughly 5%-10% equity exposure

    60% confidence

  • The average BDC's software exposure is about 20%

    60% confidence

  • SLRC's assets can be viewed as a more attractive alternative relative to increasing investor concerns about private market industry exposure to software companies

    60% confidence
What we know · the intelligence behind this page
Live from the substrate
What we're seeing
Enterprise AI Agents Go Mainstream, But Trustworthy Data Access Lags Adoption
A wave of enterprise AI agent activity — fresh funding (Latitude's $35M Series A), a run of CB Insights CEO interviews spotlighting fintech- and healthcare-focused agent startups (Covecta, Penguin AI, Maisa AI), and major platform partnerships (Microsoft-Mistral, Manulife-Microsoft AI governance, Siemens-NVIDIA agentic EDA, Box's agent security controls) — signals agentic AI moving from pilot to production across financial and enterprise workflows. Yet Google Cloud's own research shows adoption is outrunning data readiness (companies average AI access to only 45% of their data, with 'data laggards' capped near 30%), while insider selling at incumbent C3.ai hints at mixed investor conviction even as the broader ecosystem accelerates.
Our read on the data ›
Signals we're tracking
Satellite-Terrestrial Network Integration Acceleration
Increased investment and launches in hybrid satellite-cellular networks across telecom industry; competitive responses from other carriers; regulatory activity around satellite spectrum; expansion of emergency/rural connectivity use cases
Patterns we're watching ›
Where sources disagree
ING Group
Both facts record the same metric (shares_outstanding) for ING Group at the identical observation date (2025-12-31). FACT A states 2,902,437,688 shares; FACT B states 2,902 million shares (2,902,000,000). The difference is 437,688 shares (~0.015%). This is a genuine value conflict, though the discrepancy appears to result from FACT B rounding to the nearest million while FACT A provides the precise count.
We flag conflicts openly ›
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