\nKayne Anderson BDC, Inc. (NYSE: KBDC) (\u201cKBDC or the Company\u201d), a business development company externally managed by its investment adviser, KA Credit Advisors, LLC, today announced its financial results for the second quarter ended June 30, 2026.<\/p>\n
Financial Highlights for the Quarter Ended June 30, 2026<\/b><\/p>\n \n\u201cWe delivered another quarter of solid performance, with net investment income of $0.42 per share covering our dividend and an annualized ROE on net investment income of 10.5%,” said Doug Goodwillie, Co-Chief Executive Officer. “Our year-to-date results highlight the resilience of our value lending strategy. This strategy\u2019s core philosophy involves lending to stable industries with conservative leverage at the borrower level, thereby mitigating many of the challenges currently facing the private credit sector.\u201d<\/p>\n \n\u201cWe are pleased to see a pickup in deal flow in the core middle market at the start of the third quarter, and are encouraged by our closing of $139 million of new private credit commitments during a rather slow second quarter for M&A,” said Ken Leonard, Co-Chief Executive Officer. “New floating rate originations priced at SOFR plus 566 basis points, 17 basis points wider than the prior quarter, reflects a favorable pricing environment for our selective, time-tested, conservative, underwriting approach.\u201d<\/p>\n Selected Financial Highlights<\/b>\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n As of<\/b><\/p>\n<\/td>\n<\/tr>\n \n(in thousands, except per share data)<\/p>\n<\/td>\n June 30, 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n March 31, 2026<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPortfolio company investments, at fair value<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,266,618<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,194,304<\/p>\n<\/td>\n<\/tr>\n \nTotal assets<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,341,758<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,252,359<\/p>\n<\/td>\n<\/tr>\n \nTotal debt outstanding, at principal<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,238,000<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,138,000<\/p>\n<\/td>\n<\/tr>\n \nNet assets<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,059,652<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,079,192<\/p>\n<\/td>\n<\/tr>\n \nNet asset value per share<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n16.00<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n16.23<\/p>\n<\/td>\n<\/tr>\n \nTotal debt-to-equity ratio<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.17x<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.05x<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n For the quarter ended<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n June 30, 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n March 31, 2026<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet investment income per share<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.42<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.43<\/p>\n<\/td>\n<\/tr>\n \nNet realized and unrealized gains (losses) per share(1)<\/sup><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(0.26)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(0.17)<\/p>\n<\/td>\n<\/tr>\n \nEarnings per share<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.16<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.26<\/p>\n<\/td>\n<\/tr>\n \nRegular dividend per share<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.40<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.40<\/p>\n<\/td>\n<\/tr>\n \n(1) Amounts shown may not correspond for the period as it includes the effect of the timing of the distribution, shares repurchased, and the issuance of common stock.\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Results of Operations<\/b><\/p>\n \nTotal investment income for the quarter ended June 30, 2026 was $55.7 million, as compared to $57.3 million for the quarter ended March 31, 2026. The decrease was primarily driven by catch-up PIK interest income from Arborworks Acquisition following the change to accrual status during the first quarter and the impact of American Soccer Company being on non-accrual during the second quarter, partially offset by interest income on new investments made during the second quarter. PIK income represented 4.5% of total interest income for the quarter, as compared to 7.5% for the quarter ended March 31, 2026. For the quarter ended March 31, 2026, 3.9% of total interest income relates to PIK interest recognized on the Company\u2019s debt investments in Arborworks Acquisition, LLC following the change to accrual status.<\/p>\n \nNet investment income for the quarter ended June 30, 2026 was $27.5 million or $0.42 per share as compared to $28.9 million or $0.43 per share for the quarter ended March 31, 2026. Net expenses for the quarter were $28.2 million, as compared to $28.4 million for the quarter ended March 31, 2026. The decrease was primarily related to lower incentive fees during the quarter, partially offset by higher interest expense from higher average borrowings and slightly higher management fees during the second quarter.<\/p>\n \nFor the quarter ended June 30, 2026, the Company had realized losses of $12.2 million and had a net change in unrealized losses on investments of $4.6 million. The realized losses are primarily due to Sundance Holdings Group, LLC, for which the liquidation process was completed in the second quarter ($9.4 million), Diverzify Intermediate LLC, for which our existing debt was exchanged for new debt that included a first lien last out tranche ($0.9 million) and the rotation out of our four remaining broadly syndicated loans ($1.9 million). The unrealized losses for the quarter were primarily driven by decreases in fair value and quarterly amortization of original issue discounts, partially offset by new upfront fees for originations during the quarter and reversal of unrealized losses to realized losses.<\/p>\n Portfolio and Investment Activity<\/b>\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n As of<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n($ in thousands, unless otherwise noted)<\/p>\n<\/td>\n June 30, 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n March 31, 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPortfolio company investments at fair value<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,266,618<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,194,304<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNumber of portfolio companies<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n104<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n105<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAverage portfolio company investment size<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n21,794<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n20,898<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Asset class:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nFirst lien debt<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n92.8%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n92.6%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nSubordinated debt<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5.3%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5.5%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nEquity<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.9%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.9%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Non-accrual debt investments:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNon-accrual investments at fair value<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n59,130<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n53,685<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNon-accrual investments as a percentage of debt investments at fair value<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2.7%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2.5%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Interest rate type:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPercentage floating-rate<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n95.3%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n95.1%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPercentage fixed-rate<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4.7%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4.9%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Yields on debt investments (at fair value):<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nWeighted average yield – excluding non-accruals<\/p>\n<\/td>\n \n10.2%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10.1%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nWeighted average yield – including non-accruals<\/p>\n<\/td>\n \n9.9%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9.9%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Investment activity during the quarter ($ in millions):<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nGross new investment commitments<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n138.7<\/p>\n<\/td>\n (1)<\/sup><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n92.5<\/p>\n<\/td>\n (2)<\/sup><\/p>\n<\/td>\n<\/tr>\n \nPrincipal amount of investments funded<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n146.4<\/p>\n<\/td>\n (1)<\/sup><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n99.1<\/p>\n<\/td>\n (2)<\/sup><\/p>\n<\/td>\n<\/tr>\n \nPrincipal amount of investments sold or repaid<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(67.9)<\/p>\n<\/td>\n (1)<\/sup><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(92.0)<\/p>\n<\/td>\n (2)<\/sup><\/p>\n<\/td>\n<\/tr>\n \nNet principal amount of investments funded (repaid)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n78.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n7.1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n(1) For the quarter ending June 30, 2026, broadly syndicated loans represent $0 of new investment commitments, $0 of investments funded and $29.8 million of investments sold or repaid.<\/p>\n<\/td>\n<\/tr>\n \n(2) For the quarter ending March 31, 2026, broadly syndicated loans represent $0 of new investment commitments, $0 of investments funded and $17.4 million of investments sold or repaid.<\/p>\n<\/td>\n<\/tr>\n Liquidity and Capital Resources<\/b><\/p>\n \nAs of June 30, 2026, the Company had $275 million senior unsecured notes outstanding, $963 million borrowed under its credit facilities and cash and cash equivalents of $39.7 million (including investments in money market funds). As of that date, the Company had $437 million of undrawn commitments available on its credit facilities (subject to borrowing base restrictions and other conditions).<\/p>\n \nAs of June 30, 2026, the Company\u2019s debt-to-equity ratio was 1.17x and its asset coverage ratio was 186%. The Company targets a debt-to-equity ratio of 1.0x to 1.25x (which equates to asset coverage of 200% to 180%). The Company may operate above or below this target based on market conditions.<\/p>\n Recent Developments<\/b><\/p>\n Conference Call Information<\/b><\/p>\n \nKBDC will host a conference call at 10:00 am ET on Tuesday, August 11, 2026, to review its financial results. All interested parties are invited to participate using the following telephone dial-in or the webcast details:<\/p>\n \nTelephone Dial-in<\/p>\n Kayne Anderson BDC, Inc. \n\u00a0<\/p>\n<\/td>\n June 30,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n<\/tr>\n Assets:<\/b><\/p>\n<\/td>\n \n(Unaudited)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPortfolio company investments, at fair value:<\/p>\n<\/td>\n \nNon-controlled, non-affiliated investments (amortized cost of $2,128,442 and $2,079,041)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,131,279<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,084,737<\/p>\n<\/td>\n<\/tr>\n \nNon-controlled, affiliated investments (amortized cost of $130,651 and $118,459)<\/p>\n<\/td>\n \n125,719<\/p>\n<\/td>\n \n113,684<\/p>\n<\/td>\n<\/tr>\n \nControlled, affiliated investments (amortized cost of $20,228 and $0)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,620<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n<\/tr>\n \nTotal portfolio company investments, at fair value (amortized cost of $2,279,321 and $2,197,500)<\/p>\n<\/td>\n \n2,266,618<\/p>\n<\/td>\n \n2,198,421<\/p>\n<\/td>\n<\/tr>\n \nInvestments in money market funds (amortized cost of $25,184 and $25,409)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25,184<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25,409<\/p>\n<\/td>\n<\/tr>\n \nCash<\/p>\n<\/td>\n \n14,519<\/p>\n<\/td>\n \n18,027<\/p>\n<\/td>\n<\/tr>\n \nDeposits for investments<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n13,015<\/p>\n<\/td>\n<\/tr>\n \nReceivable for sales of investments<\/p>\n<\/td>\n \n10,303<\/p>\n<\/td>\n \n7,168<\/p>\n<\/td>\n<\/tr>\n \nReceivable for principal payments on investments<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n407<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n308<\/p>\n<\/td>\n<\/tr>\n \nInterest receivable<\/p>\n<\/td>\n \n24,196<\/p>\n<\/td>\n \n24,063<\/p>\n<\/td>\n<\/tr>\n \nPrepaid expenses and other assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n531<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n291<\/p>\n<\/td>\n<\/tr>\n Total Assets<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,341,758<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,286,702<\/p>\n<\/td>\n<\/tr>\n Liabilities:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCorporate Credit Facility<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n230,000<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n135,000<\/p>\n<\/td>\n<\/tr>\n \nUnamortized Corporate Credit Facility issuance costs<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,921)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3,372)<\/p>\n<\/td>\n<\/tr>\n \nRevolving Funding Facility<\/p>\n<\/td>\n \n540,000<\/p>\n<\/td>\n \n525,000<\/p>\n<\/td>\n<\/tr>\n \nUnamortized Revolving Funding Facility issuance costs<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(6,069)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(4,671)<\/p>\n<\/td>\n<\/tr>\n \nRevolving Funding Facility II<\/p>\n<\/td>\n \n193,000<\/p>\n<\/td>\n \n195,000<\/p>\n<\/td>\n<\/tr>\n \nUnamortized Revolving Funding Facility II issuance costs<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,838)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,100)<\/p>\n<\/td>\n<\/tr>\n \nNotes<\/p>\n<\/td>\n \n272,099<\/p>\n<\/td>\n \n274,701<\/p>\n<\/td>\n<\/tr>\n \nUnamortized notes issuance costs<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,162)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,560)<\/p>\n<\/td>\n<\/tr>\n \nShares repurchased payable<\/p>\n<\/td>\n \n97<\/p>\n<\/td>\n \n496<\/p>\n<\/td>\n<\/tr>\n \nDistributions payable<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n26,490<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n27,213<\/p>\n<\/td>\n<\/tr>\n \nManagement fee payable<\/p>\n<\/td>\n \n5,561<\/p>\n<\/td>\n \n5,613<\/p>\n<\/td>\n<\/tr>\n \nIncentive fee payable<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,895<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,935<\/p>\n<\/td>\n<\/tr>\n \nAccrued expenses and other liabilities<\/p>\n<\/td>\n \n25,954<\/p>\n<\/td>\n \n22,041<\/p>\n<\/td>\n<\/tr>\n \nAccrued excise tax expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n475<\/p>\n<\/td>\n<\/tr>\n Total Liabilities<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,282,106<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,176,771<\/p>\n<\/td>\n<\/tr>\n \nCommitments and contingencies<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Net Assets:<\/b><\/p>\n<\/td>\n \nCommon Shares, $0.001 par value; 100,000,000 shares authorized; 66,216,562 and 67,998,184 as of June 30, 2026 and December 31, 2025 respectively, issued and outstanding<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n66<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n68<\/p>\n<\/td>\n<\/tr>\n \nAdditional paid-in capital<\/p>\n<\/td>\n \n1,082,851<\/p>\n<\/td>\n \n1,108,001<\/p>\n<\/td>\n<\/tr>\n \nTotal distributable earnings (deficit)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(23,265)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,862<\/p>\n<\/td>\n<\/tr>\n Total Net Assets<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,059,652<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,109,931<\/p>\n<\/td>\n<\/tr>\n Total Liabilities and Net Assets<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,341,758<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,286,702<\/p>\n<\/td>\n<\/tr>\n Net Asset Value Per Common Share<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n16.00<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n16.32<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Kayne Anderson BDC, Inc. \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n For the Three Months Ended<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n For the Six Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n June 30,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n June 30<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n<\/tr>\n Income:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nInvestment income from investments:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nInterest income from non-controlled, non- affiliated investments<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n49,730<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n55,057<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n99,476<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n109,765<\/p>\n<\/td>\n<\/tr>\n \nInterest income from non-controlled, affiliated investments<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,086<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n6,080<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n<\/tr>\n \nPayment-in-kind interest income from non-controlled, non-affiliated investments<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,501<\/p>\n<\/td>\n \n2,063<\/p>\n<\/td>\n \n6,774<\/p>\n<\/td>\n \n2,369<\/p>\n<\/td>\n<\/tr>\n \nDividend income<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n386<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n178<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n698<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n409<\/p>\n<\/td>\n<\/tr>\n Total Investment Income<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n55,703<\/p>\n<\/td>\n \n57,298<\/p>\n<\/td>\n \n113,028<\/p>\n<\/td>\n \n112,543<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Expenses:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nManagement fees<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,561<\/p>\n<\/td>\n \n5,412<\/p>\n<\/td>\n \n10,977<\/p>\n<\/td>\n \n10,543<\/p>\n<\/td>\n<\/tr>\n \nIncentive fees<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,895<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,452<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,006<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,942<\/p>\n<\/td>\n<\/tr>\n \nInterest expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n19,609<\/p>\n<\/td>\n \n18,384<\/p>\n<\/td>\n \n38,469<\/p>\n<\/td>\n \n35,509<\/p>\n<\/td>\n<\/tr>\n \nProfessional fees<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n328<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n368<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n642<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n713<\/p>\n<\/td>\n<\/tr>\n \nDirectors fees<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n164<\/p>\n<\/td>\n \n158<\/p>\n<\/td>\n \n328<\/p>\n<\/td>\n \n316<\/p>\n<\/td>\n<\/tr>\n \nExcise tax expense (benefit)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n(11)<\/p>\n<\/td>\n \n(43)<\/p>\n<\/td>\n<\/tr>\n \nOther general and administrative expenses<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n585<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n603<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,160<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,184<\/p>\n<\/td>\n<\/tr>\n Total Expenses<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n28,142<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n29,377<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n56,571<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n57,164<\/p>\n<\/td>\n<\/tr>\n \nLess: Management fee waiver<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n(788)<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n(2,071)<\/p>\n<\/td>\n<\/tr>\n Net Expenses<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n28,142<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n28,589<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n56,571<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n55,093<\/p>\n<\/td>\n<\/tr>\n Net Investment Income (Loss)<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n27,561<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n28,709<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n56,457<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n57,450<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Realized and unrealized gains (losses) on investments<\/b><\/p>\n<\/td>\n<\/tr>\n \nNet realized gains (losses):<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nNon-controlled, non-affiliated investments<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(12,221)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(10)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(14,468)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n556<\/p>\n<\/td>\n<\/tr>\n Total net realized gains (losses)<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(12,221)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(10)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(14,468)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n556<\/p>\n<\/td>\n<\/tr>\n \nNet change in unrealized gains (losses):<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNon-controlled, non-affiliated investments<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3,408)<\/p>\n<\/td>\n \n(1,564)<\/p>\n<\/td>\n \n(10,414)<\/p>\n<\/td>\n \n(8,057)<\/p>\n<\/td>\n<\/tr>\n \nNon-controlled, affiliated investments<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(478)<\/p>\n<\/td>\n \n(1,907)<\/p>\n<\/td>\n \n(157)<\/p>\n<\/td>\n \n(1,925)<\/p>\n<\/td>\n<\/tr>\n \nControlled, affiliated investments<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(716)<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n(3,052)<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n<\/tr>\n Total net change in unrealized gains (losses)<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(4,602)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3,471)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(13,623)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(9,982)<\/p>\n<\/td>\n<\/tr>\n Total realized and unrealized gains (losses)<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(16,823)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3,481)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(28,091)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(9,426)<\/p>\n<\/td>\n<\/tr>\n \nIncome tax (expense) benefit on unrealized appreciation\/depreciation on investments<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(21)<\/p>\n<\/td>\n \n(318)<\/p>\n<\/td>\n \n(408)<\/p>\n<\/td>\n \n(899)<\/p>\n<\/td>\n<\/tr>\n Net Increase in Net Assets Resulting from Operations<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n10,717<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n24,910<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n27,958<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n47,125<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nBasic and diluted net investment income per share<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.42<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.40<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.85<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.81<\/p>\n<\/td>\n<\/tr>\n \nBasic and diluted net increase in net assets resulting from operations per share<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.16<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.35<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.42<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.66<\/p>\n<\/td>\n<\/tr>\n \nWeighted Average Common Shares Outstanding – Basic and Diluted<\/p>\n<\/td>\n \n66,347,339<\/p>\n<\/td>\n \n70,901,688<\/p>\n<\/td>\n \n66,743,644<\/p>\n<\/td>\n \n71,067,266<\/p>\n<\/td>\n<\/tr>\n<\/table>\n About Kayne Anderson BDC, Inc.<\/b><\/p>\n \nKayne Anderson BDC, Inc. is a business development company (\u201cBDC\u201d) that invests primarily in first lien senior secured loans, with a secondary focus on unitranche and split-lien loans to middle market companies. KBDC is externally managed by its investment adviser, KA Credit Advisors, LLC, an indirect controlled subsidiary of Kayne Anderson Capital Advisors, L.P., a prominent alternative investment management firm. KBDC has elected to be regulated as a BDC under the Investment Company Act of 1940, as amended (\u201c1940 Act\u201d). KBDC\u2019s investment objective is to generate current income and, to a lesser extent, capital appreciation. For more information, please visit www.kaynebdc.com<\/a>.<\/p>\n Forward-looking Statements<\/b><\/p>\n \nThis press release may contain \u201cforward-looking statements\u201d that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about KBDC, its current and prospective portfolio investments, its industry, its beliefs and opinions, and its assumptions. Words such as \u201canticipates,\u201d \u201cexpects,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cwill,\u201d \u201cmay,\u201d \u201ccontinue,\u201d \u201cbelieves,\u201d \u201cseeks,\u201d \u201cestimates,\u201d \u201cwould,\u201d \u201ccould,\u201d \u201cshould,\u201d \u201ctargets,\u201d \u201cprojects,\u201d \u201coutlook,\u201d \u201cpotential,\u201d \u201cpredicts\u201d and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond KBDC\u2019s control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements including, without limitation, the risks, uncertainties and other factors identified in KBDC\u2019s filings with the SEC. All forward-looking statements speak only as of the date of this press release. KBDC does not undertake any obligation to update or revise any forward-looking statements or any other information contained herein, except as required by applicable law.<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260810188675\/en\/<\/a><\/span><\/p>\n\n
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\n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n <\/tr>\n<\/table>\n \n
\n \u00a0<\/td>\n<\/tr>\n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
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\n \u00a0<\/td>\n<\/tr>\n \n \u00a0<\/td>\n<\/tr>\n \n \u00a0<\/td>\n<\/tr>\n \n \n
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Consolidated Statements of Assets and Liabilities
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(amounts in 000\u2019s, except share and per share amounts)<\/b>\u00a0<\/p>\n<\/td>\n<\/tr>\n\n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \u00a0<\/td>\n<\/tr>\n \n \u00a0<\/td>\n<\/tr>\n \n \u00a0<\/td>\n<\/tr>\n \n \u00a0<\/td>\n<\/tr>\n \n \n
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Consolidated Statements of Operations
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(amounts in 000\u2019s, except share and per share amounts) (Unaudited)<\/b>\u00a0<\/p>\n<\/td>\n<\/tr>\n\n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n <\/tr>\n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n <\/tr>\n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n <\/p>\n
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