My Income Portfolio: The Knight's Move

Inspired by the horse race in the 2026 Palio di Siena, I made a financial move that I hope will be just as clever as the knight's move in chess. I decided to close out two positions in my Cupolone portfolio that I wasn't entirely convinced about, raising cash to reinvest when the opportunity arises. The purpose of this move is to use this liquidity in securities with better overall NAV performance and a greater likelihood of long-term success.

Seeking Alpha • Sep 3, 2026

The Best REIT And BDC To Own If Things Get Rougher From Here

The market is a precarious place to invest right now, given where valuations and risks sit. I discuss the REIT and BDC that are best positioned to weather a major downturn from a qualitative and quantitative standpoint. I also discuss the risks involved.

Seeking Alpha • Sep 2, 2026

Golub Capital: The 15% Dividend Cut May Not Be The Last

Golub Capital BDC remains under pressure, with sequential declines in portfolio value, NAV, and investment activity despite a recent 15% dividend cut. GBDC's dividend coverage is tight at 103%, leaving little cushion; further deterioration in net investment income could prompt another cut within two to four quarters. Rising non-accruals, declining portfolio yields, and continued NAV erosion drive my continued sell rating, outweighing the appeal of the current 8% NAV discount and high yield.

Seeking Alpha • Sep 1, 2026

My Income Portfolio: The Music Of Dividends

A note is the basic element of musical language: each one represents a sound, and through their combination music takes shape. As with notes on a staff, infinite are the combinations of financial instruments through which investors' portfolios take shape. My current portfolio consists of 28 securities that play a music generated by the flow of dividends against the backdrop of a rising NAV for most of them.

Seeking Alpha • Aug 10, 2026

Private Credit Is Under Growing Strain, Despite Industry's Upbeat Tone

Default rates are hitting recent highs, and internal reviews of loan health point to tougher times ahead, a WSJ analysis shows.

WSJ • Aug 10, 2026

Golub Capital: I Want To Hold It, But

Golub Capital BDC is downgraded from HOLD to SELL due to portfolio deterioration and valuation concerns. Non-accruals and internal rating migrations signal rising credit risk, with portfolio quality eroding faster than peers. GBDC's 0.33 dividend is just covered by NII; no cushion exists for further deterioration, putting the payout at risk.

Seeking Alpha • Aug 7, 2026

Golub Capital BDC (GBDC) Q3 2026 Earnings Call Transcript

Golub Capital BDC (GBDC) Q3 2026 Earnings Call Transcript

Seeking Alpha • Aug 5, 2026

Golub Capital: Second Dividend Reset In 2026 Possible

Golub Capital BDC remains a 'Hold' due to persistent non-accrual increases and a razor-thin dividend coverage ratio. GBDC's 100% dividend coverage offers no safety margin; a second dividend cut in 2026 is increasingly likely if current trends persist. Portfolio value declined 8.5% year-over-year, with non-accruals rising to 1.9% at fair value, exacerbating dividend risk.

Seeking Alpha • Aug 5, 2026

The 2 Most Misunderstood 10%+ Yielding Income Investments In The Market Today

Double-digit yields are not automatically dangerous, but investors must understand the structural trade-offs hiding behind the headline payout. I detail two of the most misunderstood 10%+ yielding investment opportunities in today's market. I also share some of my favorite picks.

Seeking Alpha • Aug 5, 2026

Golub Capital BDC Q3 Earnings Call Highlights

Golub Capital BDC NASDAQ: GBDC reported improved fiscal third-quarter results for the period ended June 30, 2026, as lower realized and unrealized losses offset continued credit stress across the direct-lending market.

MarketBeat • Aug 4, 2026