CCAP Home Investment Highlights Valuation & Metrics Price Chart Why The Stock Moved Return vs. Risk About CCAP Interactive Breakdown Better Bets vs. CCAP Peer Outperformance Latest Trefis Analyses Trade Ideas More From Trefis Peer Comparisons FDIC Bank Data FDA Approved Drugs Data Clinical Pipeline Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Forward Guidance Insider Activity Investor Activity (13F) Trade Sentinel Investor Videos Industry Resource Links External Quote Links

    Crescent Capital BDC (CCAP)

    Market Price (9/21/2026): $9.79 | Market Cap: $360.8 MilSector: Financials | Industry: Asset Management & Custody Banks

    Crescent Capital BDC (CCAP)

    Market Price (9/21/2026): $9.79
    Market Cap: $360.8 Mil
    Sector: Financials
    Industry: Asset Management & Custody Banks

    Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

    0

    Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 17%, Dividend Yield is 18%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 13%, FCF Yield is 11%

    Attractive cash flow generation
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 553%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 553%

    Low stock price volatility
    Vol 12M is 27%

    Megatrend and thematic drivers
    Megatrends include Digital & Alternative Assets. Themes include Private Credit, and Private Equity.

    Weak multi-year price returns
    2Y Excs Rtn is -68%, 3Y Excs Rtn is -86%

    Debt is significant
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 252%

    Expensive valuation multiples
    P/SPrice/Sales ratio is 51x

    Weak revenue growth
    Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -87%, Rev Chg QQuarterly Revenue Change % is -100%

    Valuation getting more expensive
    P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 197%

    Key risks
    CCAP key risks include [1] heightened default risk and potential credit losses stemming from a considerable portion of its investment portfolio being on non-accrual status.

    0 Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 17%, Dividend Yield is 18%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 13%, FCF Yield is 11%
    1 Attractive cash flow generation
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 553%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 553%
    2 Low stock price volatility
    Vol 12M is 27%
    3 Megatrend and thematic drivers
    Megatrends include Digital & Alternative Assets. Themes include Private Credit, and Private Equity.
    4 Weak multi-year price returns
    2Y Excs Rtn is -68%, 3Y Excs Rtn is -86%
    5 Debt is significant
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 252%
    6 Expensive valuation multiples
    P/SPrice/Sales ratio is 51x
    7 Weak revenue growth
    Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -87%, Rev Chg QQuarterly Revenue Change % is -100%
    8 Valuation getting more expensive
    P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 197%
    9 Key risks
    CCAP key risks include [1] heightened default risk and potential credit losses stemming from a considerable portion of its investment portfolio being on non-accrual status.

    Valuation & Metrics

    FYE: 12/31CCAP [1]S&P 500 [2]
    REVENUE GROWTH
    LTM Revenue [3]$7.1 Mil—
    FY 2026 Sales$147.0 Mil—
    FY 2027 Sales$142.7 Mil—
    FY 2026 Sales Growth1,960.9%—
    FY 2027 Sales Growth-2.9%12.9%
    EARNINGS
    LTM Net Income (GAAP) [3]$-3.2 Mil—
    FY 2026 Net Income (Non-GAAP)$54.3 Mil—
    FY 2027 Net Income (Non-GAAP)$51.6 Mil—
    FY 2027 Net Income Growth-5.1%18.1%
    FY 2026 EPS (Non-GAAP)$1.48—
    FY 2027 EPS (Non-GAAP)$1.40—
    FY 2027 EPS Growth-5.6%—
    VALUATION
    FY 2026 P/S2.51.6
    FY 2027 P/S2.5—
    FY 2026 P/E6.67.4
    FY 2027 P/E7.0—

    [1] CCAP forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
    [2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 9/30/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
    [3] LTM = reported trailing-twelve-month actuals (GAAP).
    CCAPS&P 500
    REVENUE GROWTHPOOR
    Rev LTM ($ Bil)0.0
    Rev Chg Q-100.5%9.1%
    Rev Chg LTM-87.4%8.3%
    Rev Chg 3Y Avg17.0%5.8%
    PROFITABILITYVERY POOR
    Op Inc LTM ($ Bil)�
    CFO LTM ($ Bil)0.0
    Net Inc LTM ($ Bil)-0.0
    CFO/Rev LTM553.4%21.8%
    Net Inc Mgn-44.4%13.1%
    VALUATIONVERY HIGH
    P/S50.63.1
    P/CFO9.114.7
    P/FCF9.119.1
    P/E-113.922.4

    AI Analysis | Feedback

    MetricValueDateSource
    Number of Portfolio Companies1876302025Link
    Portfolio Fair Value1.6 billion6302025Link
    New and Follow-on Investments in Quarter57.5 million6302025Link
    Debt-to-Equity Ratio1.23x6302025Link
    Number of New Portfolio Companies in Quarter36302025Link
    Aggregate Exits, Sales and Repayments in Quarter92.7 million6302025Link

    Price Chart

    Upcoming
    9/30/2026DividendAmount: $0.34
    Payment On: 10/15/2026
    11/30/2026DividendAmount: $0.03
    Payment On: 12/15/2026

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    Updated on 9/11/2026

    Crescent Capital BDC (CCAP) stock has lost about 10% since 5/31/2026 because of the following key factors:

    1. Crescent Capital BDC reported weaker-than-expected financial results for its fiscal second quarter of 2026, which ended on June 30, 2026. The company announced on August 10, 2026, that its net investment income (NII) was $0.36 per share, missing the consensus analyst estimate of $0.37 per share. Additionally, quarterly revenue came in significantly below expectations at $5.12 million, compared to analyst estimates of $37.12 million.

    2. The company experienced a decline in Net Asset Value (NAV) and overall investment income, alongside an increase in watchlist assets, indicating a potential deterioration in portfolio quality. NAV per share decreased to $17.82 at the end of fiscal Q2 2026, down from $18.27 in the prior fiscal quarter, primarily due to unrealized losses on non-accrual investments. Total investment income for fiscal Q2 2026 was $36.3 million, a decrease from $37.9 million in fiscal Q1 2026, driven by lower dividend income and reduced prepayment fees. Watchlist assets increased to 15% from 14% of the portfolio.

    Show more
    Updated on 9/11/2026

    Crescent Capital BDC (CCAP) stock has lost about 10% since 5/31/2026 because of the following key factors:

    1. Crescent Capital BDC reported weaker-than-expected financial results for its fiscal second quarter of 2026, which ended on June 30, 2026. The company announced on August 10, 2026, that its net investment income (NII) was $0.36 per share, missing the consensus analyst estimate of $0.37 per share. Additionally, quarterly revenue came in significantly below expectations at $5.12 million, compared to analyst estimates of $37.12 million.

    2. The company experienced a decline in Net Asset Value (NAV) and overall investment income, alongside an increase in watchlist assets, indicating a potential deterioration in portfolio quality. NAV per share decreased to $17.82 at the end of fiscal Q2 2026, down from $18.27 in the prior fiscal quarter, primarily due to unrealized losses on non-accrual investments. Total investment income for fiscal Q2 2026 was $36.3 million, a decrease from $37.9 million in fiscal Q1 2026, driven by lower dividend income and reduced prepayment fees. Watchlist assets increased to 15% from 14% of the portfolio.

    3. The broader Business Development Company (BDC) sector faced a deteriorating outlook and increasing pressures, impacting investor sentiment. Fitch Ratings maintained a sector-wide "deteriorating" outlook for BDCs in April 2026, citing expectations for continued pressure on net investment income, dividend coverage, and asset quality. Investment yields across the sector declined to 10.1% at year-end 2025 from 11.1% a year prior, with the median effective portfolio yield falling from 11.9% in fiscal Q2 2023 to 8.8% in fiscal Q1 2026. Non-accrual levels for rated BDCs averaged 2.5% at cost in fiscal Q1 2026.

    4. Multiple analyst downgrades and reduced price targets followed the company's fiscal Q2 2026 earnings report. For instance, B of A Securities downgraded Crescent Capital BDC from an "Outperform" to a "Neutral" rating and lowered its price target from $13.00 to $10.25 on September 10, 2026. Similarly, B. Riley Financial reduced its price target from $13.50 to $12.50, and Keefe, Bruyette & Woods lowered its target from $13.00 to $12.00, both in August 2026.

    Show less
    Holding a concentrated position? Know your true downside before the momentum shifts.
    Protect Your Wealth →

    Stock Movement Drivers

    Fundamental Drivers

    The -11.4% change in CCAP stock from 5/31/2026 to 9/20/2026 was primarily driven by a -73.0% change in the company's Total Revenues ($ Mil).
    (LTM values as of)53120269202026Change
    Stock Price ($)11.039.78-11.4%
    Change Contribution By: 
    Total Revenues ($ Mil)267-73.0%
    P/S Multiple15.450.5227.3%
    Shares Outstanding (Mil)37370.2%
    Cumulative Contribution-11.4%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    5/31/2026 to 9/20/2026
    ReturnCorrelation
    CCAP-11.4% 
    Market (SPY)0.9%31.0%
    Sector (XLF)8.3%38.8%

    Fundamental Drivers

    The -17.1% change in CCAP stock from 2/28/2026 to 9/20/2026 was primarily driven by a -85.0% change in the company's Total Revenues ($ Mil).
    (LTM values as of)22820269202026Change
    Stock Price ($)11.809.78-17.1%
    Change Contribution By: 
    Total Revenues ($ Mil)477-85.0%
    P/S Multiple9.250.5449.3%
    Shares Outstanding (Mil)37370.4%
    Cumulative Contribution-17.1%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    2/28/2026 to 9/20/2026
    ReturnCorrelation
    CCAP-17.1% 
    Market (SPY)11.6%33.2%
    Sector (XLF)9.2%33.1%

    Fundamental Drivers

    The -29.2% change in CCAP stock from 8/31/2025 to 9/20/2026 was primarily driven by a -87.4% change in the company's Total Revenues ($ Mil).
    (LTM values as of)83120259202026Change
    Stock Price ($)13.819.78-29.2%
    Change Contribution By: 
    Total Revenues ($ Mil)577-87.4%
    P/S Multiple9.050.5460.3%
    Shares Outstanding (Mil)37370.6%
    Cumulative Contribution-29.2%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    8/31/2025 to 9/20/2026
    ReturnCorrelation
    CCAP-29.2% 
    Market (SPY)19.4%35.0%
    Sector (XLF)4.7%39.0%

    Fundamental Drivers

    The -14.9% change in CCAP stock from 8/31/2023 to 9/20/2026 was primarily driven by a -81.6% change in the company's Total Revenues ($ Mil).
    (LTM values as of)83120239202026Change
    Stock Price ($)11.499.78-14.9%
    Change Contribution By: 
    Total Revenues ($ Mil)397-81.6%
    P/S Multiple11.050.5359.0%
    Shares Outstanding (Mil)37370.6%
    Cumulative Contribution-14.9%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    8/31/2023 to 9/20/2026
    ReturnCorrelation
    CCAP-14.9% 
    Market (SPY)75.6%46.6%
    Sector (XLF)69.8%49.5%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    CCAP Return32%-18%53%24%-18%-23%29%
    Peers Return34%-8%26%13%-7%1%66%
    S&P 500 Return27%-19%24%23%16%12%103%

    Monthly Win Rates [3]
    CCAP Win Rate75%42%67%75%42%33% 
    Peers Win Rate73%48%67%65%45%47% 
    S&P 500 Win Rate75%42%67%75%67%44% 

    Max Drawdowns [4]
    CCAP Max Drawdown-15%-27%-15%-10%-28%-29% 
    Peers Max Drawdown-9%-26%-18%-16%-23%-19% 
    S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

    [1] Cumulative total returns since the beginning of 2021
    [2] Peers: ARCC, OBDC, GBDC, HTGC, PSEC.
    [3] Win Rate = % of calendar months in which monthly returns were positive
    [4] Max drawdown represents maximum peak-to-trough decline within a year
    [5] 2026 data is for the year up to 9/18/2026 (YTD)

    How Low Can It Go

    EventCCAPS&P 500
    2024 Yen Carry Trade Unwind
      % Loss-10.1%-7.8%
      % Gain to Breakeven11.2%8.5%
      Time to Breakeven101 days18 days
    2022 Inflation Shock & Fed Tightening
      % Loss-22.1%-24.5%
      % Gain to Breakeven28.4%32.4%
      Time to Breakeven252 days427 days
    2020 COVID-19 Crash
      % Loss-62.5%-33.7%
      % Gain to Breakeven166.3%50.9%
      Time to Breakeven259 days140 days

    Compare to ARCC, OBDC, GBDC, HTGC, PSEC

    In The Past

    Crescent Capital BDC's stock fell -10.1% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 11.2% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    EventCCAPS&P 500
    2022 Inflation Shock & Fed Tightening
      % Loss-22.1%-24.5%
      % Gain to Breakeven28.4%32.4%
      Time to Breakeven252 days427 days
    2020 COVID-19 Crash
      % Loss-62.5%-33.7%
      % Gain to Breakeven166.3%50.9%
      Time to Breakeven259 days140 days

    Compare to ARCC, OBDC, GBDC, HTGC, PSEC

    In The Past

    Crescent Capital BDC's stock fell -10.1% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 11.2% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    About Crescent Capital BDC (CCAP)

    ```html

    Crescent Capital BDC, Inc. (CCAP) operates as a business development company (BDC) dedicated to providing financing solutions to middle market companies. Essentially, CCAP acts as a direct lender, investing in the debt of privately held businesses to generate income for its shareholders. The company's operations are primarily concentrated within the United States.

    The core business involves originating and investing in various forms of debt, such as senior secured loans, unitranche loans, and mezzanine debt. These financial products are primarily used by its target middle market companies for a range of strategic purposes, including funding acquisitions, supporting organic growth, refinancing existing debt, and executing recapitalizations. CCAP's primary customers are these U.S.-based middle market companies that typically seek capital beyond traditional bank financing or public markets.

    ```

    AI Analysis | Feedback

    Here are 1-3 brief analogies to describe Crescent Capital BDC (CCAP):

    • Like JPMorgan Chase, but specializing in providing loans to mid-sized American companies instead of large corporations.
    • Similar to a private equity firm like Blackstone, but focused on lending money (debt) to growing U.S. businesses rather than taking ownership stakes.

    AI Analysis | Feedback

    • Debt Investments: Crescent Capital BDC originates and invests in various forms of debt of U.S. middle market companies.

    AI Analysis | Feedback

    Crescent Capital BDC (CCAP) is a business development company (BDC) that focuses on originating and investing in the debt of middle-market companies. Therefore, its "customers" are the numerous private middle-market companies to which it provides debt financing.

    BDCs typically build diversified portfolios of loans across many companies and industries to mitigate risk. As a result, CCAP does not have "major customers" in the traditional sense of a few highly concentrated revenue-generating clients. Its investment strategy is designed to avoid over-reliance on any single borrower.

    The companies it lends to are overwhelmingly private entities and do not have public stock symbols. Due to the nature of private debt investments and diversification, specific names of "major customer" companies cannot be identified in the way one would for a company selling goods or services.

    AI Analysis | Feedback

    null

    AI Analysis | Feedback

    Jason A. Breaux, Chief Executive Officer

    Jason A. Breaux joined Crescent Capital in 2000 and serves as Chief Executive Officer of Crescent Capital BDC, Inc.. Prior to joining Crescent, he worked in the mergers and acquisitions group at Robertson Stephens and in the investment banking division of Salomon Brothers. Since becoming CEO of CCAP in 2015, the publicly traded business development company has nearly doubled in size following its NASDAQ listing in 2020. In 2023, he played a key role in the launch of Crescent Private Credit Income Corp. (CPCI), a continuously offered non-traded BDC, and also serves as its Chairman of the Board. He also holds the position of Chairman of Crescent Cap Advisors, LLC's Investment Committee.

    Gerhard Lombard, Chief Financial Officer

    Gerhard Lombard serves as Chief Financial Officer of Crescent Capital BDC, Inc., having joined Crescent Capital in 2016. Before his tenure at Crescent Capital, he was Chief Financial Officer and Treasurer of Whitehorse Finance Inc., a publicly traded business development company managed by H.I.G. Capital. Prior to that, he held the positions of Group Controller and Chief Accounting Officer for Churchill Financial Group. Earlier in his career, he spent approximately 11 years at Ernst & Young LLP.

    Henry Chung, President

    Henry Chung is the President of Crescent Capital BDC, Inc.. He joined Crescent Capital in 2015. Prior to Crescent, he was a member of the Corporate Finance Division of Imperial Capital, where he specialized in leveraged finance. He also previously worked at Trinity Capital LLC, a boutique investment bank.

    Raymond F. Barrios, Managing Director

    Raymond F. Barrios serves as a Managing Director of Crescent Capital BDC, Inc.. He joined Crescent in 2008. Before joining Crescent, Mr. Barrios was a member of the Leveraged Finance Group of Jefferies & Company, Inc..

    Erik Barrios, Chief Compliance Officer

    Erik Barrios is the Chief Compliance Officer of Crescent Capital BDC, Inc.. He joined Crescent in 2022. Previously, he was Vice President, Legal & Compliance at The Carlyle Group, where he served as chief compliance officer and corporate secretary for the business development companies within the firm's Global Credit platform. Mr. Barrios has also held roles at Avenue Capital Group, Cohen & Steers, and J. & W. Seligman & Co..

    AI Analysis | Feedback

    ```html

    Key Risks to Crescent Capital BDC (CCAP)

    1. Credit Risk and Portfolio Company Default: Crescent Capital BDC primarily invests in the debt of middle-market companies, which inherently carry a higher risk of default compared to larger, more established firms. These loans are frequently non-rated or considered below investment grade. Economic downturns can amplify this risk, leading to potential unrealized losses in the portfolio and an increase in nonaccrual investments, as specifically noted for CCAP.
    2. Interest Rate Risk: As a business development company, CCAP utilizes leverage in its operations. While a significant portion of its portfolio consists of floating-rate loans, rising interest rates can increase the company's borrowing costs. This can lead to ongoing earnings headwinds and pressure on investment yields, potentially impacting net investment income despite potential offsets from lower borrowing rates.
    3. Market Volatility and Net Asset Value (NAV) Erosion: As a publicly traded entity, Crescent Capital BDC's stock price can be volatile, influenced by broader market conditions and the performance of its underlying, often illiquid, private investments. There is a risk of Net Asset Value (NAV) erosion over time, which can occur due to factors such as unrealized losses in portfolio companies, issuing new shares, or paying out more than earned, potentially offsetting otherwise attractive dividend yields.
    ```

    AI Analysis | Feedback

    null

    AI Analysis | Feedback

    Crescent Capital BDC, Inc. (CCAP) primarily focuses on originating and investing in the debt of private U.S. middle-market companies. The addressable market for their main products and services, which falls under the broader U.S. private credit market, is substantial. McKinsey estimates the total addressable size of the U.S. private credit market to be over $30 trillion, a significant increase from $2.1 trillion in 2023. This market includes lending to middle-market companies, which are generally defined as those with annual revenues between $10 million and $1 billion. In 2025, the U.S. segment of the private credit market was projected to be $1.34 trillion. The U.S. middle market loan volume reached $297 billion in 2024.

    AI Analysis | Feedback

    Crescent Capital BDC (CCAP) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

    1. Prudent Portfolio Growth and Capital Deployment: The company emphasizes its flexibility to prudently grow its investment portfolio and deploy capital through its established origination platform. In 2025, Crescent's private credit platform committed over $6.5 billion in capital, with more than $1.7 billion deployed in the fourth quarter, indicating a continued focus on expanding its investment base in middle-market companies.
    2. Maintaining Origination Spreads and Stable Portfolio Yields: Despite a potentially lower interest rate environment, Crescent Capital BDC has demonstrated an ability to maintain attractive spreads on new investment originations. For example, in Q3 2025, new investments carried a weighted average spread of approximately 530 basis points, and the weighted average yield on income-producing securities remained stable at 10.4% at cost.
    3. Active Management of the Existing Portfolio through Add-ons and Non-Accrual Resolution: A significant portion of Crescent's origination activity comes from its existing portfolio, with add-on investments accounting for over half of its transactions. Furthermore, the company actively manages non-accrual investments, having restructured one and fully realized another in early Q1 2026, which improved the pro forma non-accrual rate to 1.4%. This proactive management helps maintain and grow income from existing assets.
    4. Optimization of Financing Sources and Lowering Funding Costs: Crescent Capital BDC is actively seeking to optimize the pricing, tenor, and diversification of its financing sources, leveraging constructive dynamics in the private placement market. This strategy, coupled with actions such as a spread reduction in its SPV asset facility, has led to a decrease in the weighted average stated interest rate on its total borrowings, thereby enhancing net investment income.
    5. Leveraging Strong Sponsor Support and a Diversified Investment Portfolio: The company's strategy of partnering with well-capitalized private equity sponsors and maintaining a highly diversified portfolio, primarily composed of senior secured first lien loans to domestic service-oriented businesses, provides a solid foundation for consistent performance and new lending opportunities. This approach helps mitigate risk and supports the stability and growth of the underlying companies, contributing to sustained revenue generation.

    AI Analysis | Feedback

    Share Repurchases

    • Crescent Capital BDC authorized a $20.0 million stock repurchase program.
    • For the year ended December 31, 2025, the company repurchased 92,262 shares totaling approximately $1.333 million.
    • Active share repurchases have continued, with capital deployment balanced between buybacks and new investments.

    Outbound Investments

    • The company invested $306.9 million in its portfolio companies for the year ended December 31, 2025.
    • In 2024, Crescent Capital BDC invested $395.0 million across 33 new portfolio companies and 30 existing portfolio companies.
    • For the quarter ended December 31, 2025, new investments and gross deployment totaled $71 million, including five new platform investments and incremental investments in existing companies.

    Peer Outperformance in Asset Management & Custody Banks

    CCAP has trailed 66% of its 83 Asset Management & Custody Banks peers over 5Y. Among the peers that beat it are AAMI, ARES and ARCC. Asset Management & Custody Banks ranks 14th of 18 industries in Financials by median 5Y return. The sector’s gains have largely come from elsewhere.
    Share of Asset Management & Custody Banks constituents that CCAP has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
    1Y
    27%
    of 104 industry peers · -29.3% return
    3Y
    25%
    of 95 industry peers · -17.3% return
    5Y
    34%
    of 83 industry peers · -8.0% return
    Asset Management & Custody Banks peers with revenue growth within 4pp of CCAP's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
    Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
    CCAP Crescent Capital BDC 17.0% -113.8x -29.3%-17.3%-8.0% —
    AAMI Acadian Asset Management 19.0% 31.9x 86.6%352.0%249.7% +258pp
    ARES Ares Management 20.8% 44.0x -29.6%29.8%90.3% +98pp
    ARCC Ares Capital 16.6% 14.5x -0.6%34.8%56.9% +65pp
    BLK BlackRock 16.6% 25.2x -4.4%71.0%42.9% +51pp
    GBDC Golub Capital BDC 16.4% 19.0x -2.6%23.3%37.6% +46pp
    Price returns, excluding dividends. P/E shown for context only and not used for matching.
    Median price return by industry across the Financials sector, ranked by 5Y. Asset Management & Custody Banks is CCAP's own industry. Use this to see which corners of the sector have carried the returns.
    Industry Names 1Y med3Y med5Y med Top 3 by 5Y
    Reinsurance 6 24.2%70.6%133.7% SPNT 170% · RGA 154% · RNR 140%
    Investment Banking & Brokerage 13 -1.7%105.1%116.5% IBKR 527% · SNEX 257% · HOOD 183%
    Diversified Banks 12 27.5%129.8%116.3% CM 161% · JPM 159% · RY 149%
    Life & Health Insurance 20 8.6%57.6%105.8% JXN 534% · UNM 373% · FG 207%
    Multi-Sector Holdings 4 6.8%50.2%87.3% JONE 361% · VOYA 88% · BRK-B 87%
    Property & Casualty Insurance 42 9.6%67.5%67.8% ASIC 2760900% · HRTG 445% · UVE 331%
    Regional Banks 265 23.9%91.7%67.1% ESQ 391% · GCBC 340% · VBNK 335%
    Multi-line Insurance 9 8.8%71.2%64.1% GNW 201% · L 112% · SLF 104%
    Financial Exchanges & Data 15 -0.1%17.4%32.7% VIRT 184% · CBOE 135% · CME 83%
    Diversified Financial Services 4 -7.3%22.1%32.6% FRHC 168% · EQH 119% · TMS -54%
    Consumer Finance 30 1.7%89.6%26.9% ENVA 447% · EZPW 319% · FCFS 168%
    Insurance Brokers 16 -15.1%-6.3%20.3% LIFE 200% · ARX 87% · AJG 70%
    Commercial & Residential Mortgage Finance 14 -50.2%32.8%13.9% FNMA 454% · FMCC 436% · ACT 204%
    Asset Management & Custody Banks ← 84 -11.7%17.6%12.0% WT 348% · SII 279% · VCTR 274%
    Specialized Finance 3 14.0%42.2%-2.8% EFC 27% · CACC -3% · HASI -16%
    Mortgage REITs 33 -13.0%7.4%-16.5% NREF 53% · RITM 42% · DX 34%
    Transaction & Payment Processing Services 15 -1.0%-5.9%-42.9% V 74% · MA 73% · CPAY 58%
    Diversified Capital Markets 20 -36.3%20.7%-48.1% OPY 196% · LPLA 136% · GOLD 90%
    Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

    Latest Trefis Analyses

    Title
    0ARTICLES

    Recent Active Movers

    Top Gainers

    TickerCompanyMkt Cap (B)1W RtnYTD Rtn
    SDGRSchrodinger2.252.6%62.3%
    PSPershing Square19.932.3%106.6%
    BBNXBeta Bionics1.032.1%-28.2%
    TEMTempus AI14.031.9%31.8%
    SECZSecuritize1.631.3%-11.7%
    TWSTTwist Bioscience10.431.3%426.5%
    EMATEvolution Metals & Technologies2.530.5%-81.1%
    GEMIGemini Space Station0.730.3%-41.4%
    RUMRumble2.626.8%43.8%
    ALMRAlamar Biosciences2.025.0%58.4%

    Top Losers

    TickerCompanyMkt Cap (B)1W RtnYTD Rtn
    ADBTAdvasa0.1-47.1%-98.0%
    SWMRSwarmer0.4-39.4%-22.6%
    ALHCAlignment Healthcare1.7-33.8%-57.7%
    XENEXenon Pharmaceuticals4.0-32.2%-11.3%
    FLNCFluence Energy1.0-26.3%-63.0%
    ENVAEnova International4.3-21.8%11.1%
    VYXNCR Voyix0.9-21.2%-33.9%
    ARWRArrowhead Pharmaceuticals9.5-19.8%0.1%
    DMRADamora Therapeutics1.4-19.6%-1.8%
    IONSIonis Pharmaceuticals7.4-18.0%-43.8%

    Top Gainers

    TickerCompanyMkt Cap (B)1M RtnYTD Rtn
    SECZSecuritize1.680.1%-11.7%
    FWDIForward Industries0.755.9%16.5%
    PURRHyperliquid Strategies1.750.1%295.8%
    GEMIGemini Space Station0.747.8%-41.4%
    MSTRStrategy54.347.6%1.3%
    SMTCSemtech17.247.6%151.1%
    CVICVR Energy5.446.3%112.4%
    SDGRSchrodinger2.246.2%62.3%
    EMATEvolution Metals & Technologies2.541.1%-81.1%
    ACVAACV Auctions1.840.3%30.7%

    Top Losers

    TickerCompanyMkt Cap (B)1M RtnYTD Rtn
    ALMSAlumis1.0-67.6%-20.4%
    IESCIES12.8-47.5%-17.2%
    SWMRSwarmer0.4-46.9%-22.6%
    RAREUltragenyx Pharmaceutical1.5-44.7%-36.9%
    TTANServiceTitan5.2-42.1%-48.3%
    FLNCFluence Energy1.0-39.4%-63.0%
    KRMNKarman4.7-38.6%-51.1%
    XENEXenon Pharmaceuticals4.0-36.2%-11.3%
    DYNDyne Therapeutics2.8-36.1%-12.5%
    DKSDick's Sporting Goods10.7-36.1%-37.5%

    More From Trefis

    Research & Analysis

    Invest in Strategies

    Wealth Management

    Peer Comparisons

    Peers to compare with:

    Financials

    CCAPARCCOBDCGBDCHTGCPSECMedian
    NameCrescent.Ares Cap.Blue Owl.Golub Ca.Hercules.Prospect. 
    Mkt Price9.7819.4011.1712.5417.332.1811.86
    Mkt Cap0.413.95.53.33.21.13.2
    Rev LTM71,174375203487193289
    Op Inc LTM-------
    FCF LTM39-6802,2079208516278
    FCF 3Y Avg59-1,2131,336316-154440187
    CFO LTM39-6802,2079209516278
    CFO 3Y Avg59-1,2131,336316-154440187

    Growth & Margins

    CCAPARCCOBDCGBDCHTGCPSECMedian
    NameCrescent.Ares Cap.Blue Owl.Golub Ca.Hercules.Prospect. 
    Rev Chg LTM-87.4%-24.5%-49.6%-48.2%39.1%147.5%-36.3%
    Rev Chg 3Y Avg17.0%16.6%-23.2%16.4%9.3%173.1%16.5%
    Rev Chg Q-100.5%-46.2%-43.9%-31.9%51.1%103.3%-37.9%
    QoQ Delta Rev Chg LTM-73.0%-13.8%-15.7%-13.0%12.4%2,441.6%-13.4%
    Op Inc Chg LTM-------
    Op Inc Chg 3Y Avg-------
    Op Mgn LTM-------
    Op Mgn 3Y Avg-------
    QoQ Delta Op Mgn LTM-------
    CFO/Rev LTM553.4%-57.9%588.7%452.2%1.7%266.8%359.5%
    CFO/Rev 3Y Avg244.1%-77.1%277.0%175.2%-43.2%-175.2%
    FCF/Rev LTM553.4%-57.9%588.7%452.2%1.7%266.8%359.5%
    FCF/Rev 3Y Avg244.1%-77.1%277.0%175.2%-43.3%-175.2%

    Valuation

    CCAPARCCOBDCGBDCHTGCPSECMedian
    NameCrescent.Ares Cap.Blue Owl.Golub Ca.Hercules.Prospect. 
    Mkt Cap0.413.95.53.33.21.13.2
    P/S50.511.914.816.16.65.713.3
    P/Op Inc-------
    P/EBIT-------
    P/E-113.814.519.219.08.47.111.4
    P/CFO9.1-20.52.53.6378.02.13.0
    Total Yield17.2%16.4%18.9%14.9%22.4%44.6%18.0%
    Dividend Yield18.1%9.5%13.7%9.6%10.5%30.6%12.1%
    FCF Yield 3Y Avg10.8%-8.8%22.2%10.6%-4.7%31.0%10.7%
    D/E2.61.11.41.40.71.71.4
    Net D/E2.51.11.41.40.71.71.4

    Returns

    CCAPARCCOBDCGBDCHTGCPSECMedian
    NameCrescent.Ares Cap.Blue Owl.Golub Ca.Hercules.Prospect. 
    1M Rtn-8.4%-0.2%-1.0%-2.5%1.2%-5.0%-1.7%
    3M Rtn-9.5%10.3%5.9%4.2%15.0%3.4%5.1%
    6M Rtn-17.8%13.5%6.9%6.9%29.6%-4.0%6.9%
    12M Rtn-29.3%-0.6%-9.9%-2.6%-0.3%-0.3%-1.6%
    3Y Rtn-17.3%34.8%14.7%23.3%46.9%-42.4%19.0%
    1M Excs Rtn-8.5%1.2%-0.5%-1.5%3.3%-0.9%-0.7%
    3M Excs Rtn-11.5%8.3%3.9%2.2%13.0%1.4%3.1%
    6M Excs Rtn-35.7%-3.7%-11.7%-10.6%11.5%-23.1%-11.1%
    12M Excs Rtn-44.2%-14.3%-24.0%-17.0%-14.7%-19.8%-18.4%
    3Y Excs Rtn-85.9%-37.8%-55.8%-47.3%-24.6%-113.5%-51.6%

    Comparison Analyses

    null

    Financials

    $ Mil | FY: 12/312026Q22026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q3
    Period End6/30/20263/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/2023
    Filing Date8/10/20265/13/20262/25/202611/12/20258/13/20255/14/20252/19/202511/12/20248/12/20245/8/20242/21/202411/8/2023
    Key Financials Quarterly            
    Total Revenue-0-141110197121823303325
    Net Income-3-1687154101520283123
    EPS-0.09-0.420.230.190.410.110.270.410.550.760.840.61
    Key Financials TTM            
    Total Revenue TTM72647485761841041111139264
    Net Income TTM-3153536445074951021048456
    Growth Rates Quarterly            
    Total Revenue Growth-100.5%-295.2%-8.4%-45.8%-16.4%-76.3%-62.5%-27.8%-6.6%205.1%590.8%5187.8%
    Net Income Growth-121.6%-497.4%-15.0%-53.5%-26.4%-86.1%-67.6%-32.5%-9.7%260.1%1085.9%1051.3%
    Margins Quarterly            
    Net Income Margin--74.8%72.5%78.4%54.8%80.7%84.4%89.0%92.9%93.4%90.4%
    Cash & Debt            
    Total Cash166561012101711786
    Total Debt923907874875887903876857880831845857
    Net Debt / (Cash)907901869870878891866840869825837851
    Cash Flows Quarterly            
    FCF from Operations10-24233136-15-347-25393521
    Cash Flows TTM            
    FCF from Operations TTM3966754965459967111692100
    Returns to Shareholders Quarterly            
    Dividends171616171717181919191918
    Share Repurchases1110-0-0-0-0-0-0-0-0
    Return on Invested Capital (ROIC) Quarterly            
    ROIC-0.5%-3.2%1.9%1.6%3.3%0.8%2.2%3.4%4.4%6.3%6.8%5.5%
    Return on Invested Capital (ROIC) TTM            
    ROIC TTM-0.1%0.8%1.9%2.0%2.4%2.7%4.0%5.2%5.6%5.8%4.6%3.4%

    Segment Financials

    Revenue by Segment
    $ Mil20252024202320222021
    Single Segment13518218473131
    Total13518218473131


    Price Behavior

    Price Behavior
    Market Price$9.78 
    Market Cap ($ Bil)0.4 
    First Trading Date02/03/2020 
    Distance from 52W High-29.3% 
       50 Days200 Days
    DMA Price$10.77$11.96
    DMA Trenddowndown
    Distance from DMA-9.2%-18.2%
     3M1YR
    Volatility24.8%27.0%
    Downside Capture117.21103.27
    Upside Capture51.7044.77
    Correlation (SPY)36.1%35.1%
    CCAP Betas & Captures as of 8/31/2026

     1M2M3M6M1Y3Y
    Beta1.640.980.540.650.710.69
    Up Beta2.850.800.170.180.460.66
    Down Beta1.601.400.861.171.060.84
    Up Capture57%66%43%41%31%23%
    Bmk +ve Days10213268138427
    Stock +ve Days8203264117382
    Down Capture166%126%70%91%94%89%
    Bmk -ve Days11213259113324
    Stock -ve Days11203061132353

    [1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
    Based On 1-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with CCAP
    CCAP-28.4%27.0%-1.26-
    Sector ETF (XLF)4.5%14.6%0.0839.2%
    Equity (SPY)16.9%12.9%0.9435.3%
    Gold (GLD)19.1%29.3%0.600.3%
    Commodities (DBC)46.3%20.6%1.73-10.6%
    Real Estate (VNQ)4.9%13.6%0.1031.2%
    Bitcoin (BTCUSD)-30.6%44.3%-0.7016.2%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 5-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with CCAP
    CCAP-1.4%22.7%-0.11-
    Sector ETF (XLF)10.1%18.4%0.4143.6%
    Equity (SPY)12.9%17.2%0.5740.0%
    Gold (GLD)19.1%18.8%0.835.1%
    Commodities (DBC)11.2%19.5%0.4510.5%
    Real Estate (VNQ)1.1%18.8%-0.0536.5%
    Bitcoin (BTCUSD)12.5%52.5%0.4216.7%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 10-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with CCAP
    CCAP2.4%33.6%0.19-
    Sector ETF (XLF)12.9%22.1%0.5341.5%
    Equity (SPY)15.1%18.0%0.7240.8%
    Gold (GLD)12.1%16.4%0.614.6%
    Commodities (DBC)8.3%18.1%0.3714.2%
    Real Estate (VNQ)4.4%20.7%0.1842.7%
    Bitcoin (BTCUSD)62.6%66.2%1.0217.1%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How

    Short Interest

    Short Interest: As Of Date8312026
    Short Interest: Shares Quantity0.7 Mil
    Short Interest: % Change Since 8152026-8.4%
    Average Daily Volume0.2 Mil
    Days-to-Cover Short Interest2.9 days
    Basic Shares Quantity36.9 Mil
    Short % of Basic Shares1.8%

    Returns Analyses

    Earnings Returns History

    Updated 9/11/2026
    Expand for More
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    8/10/2026-2.1%-7.4%-12.2%
    5/13/2026-8.3%-13.5%-13.6%
    2/25/2026-0.4%1.0%-5.0%
    11/12/2025-4.5%-4.6%4.6%
    8/13/20253.3%2.8%7.5%
    5/14/2025-4.3%-7.3%-10.9%
    2/19/2025-4.7%-9.3%-11.0%
    11/12/20243.2%4.3%9.0%
    ...
    SUMMARY STATS   
    # Positive111513
    # Negative13911
    Median Positive1.9%2.7%5.7%
    Median Negative-1.5%-5.8%-6.9%
    Max Positive3.3%11.3%9.0%
    Max Negative-8.3%-13.5%-13.6%
     Collapse to Preview
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    8/10/2026-2.1%-7.4%-12.2%
    5/13/2026-8.3%-13.5%-13.6%
    2/25/2026-0.4%1.0%-5.0%
    11/12/2025-4.5%-4.6%4.6%
    8/13/20253.3%2.8%7.5%
    5/14/2025-4.3%-7.3%-10.9%
    2/19/2025-4.7%-9.3%-11.0%
    11/12/20243.2%4.3%9.0%
    8/12/2024-1.2%1.5%1.0%
    5/8/20241.8%2.7%7.2%
    2/21/20242.8%1.4%7.3%
    11/8/20230.7%2.8%3.0%
    8/9/2023-0.2%-0.4%-0.1%
    5/10/2023-0.7%1.1%2.8%
    2/22/20233.3%4.5%-9.1%
    11/9/2022-1.5%-2.0%-6.4%
    8/10/20221.2%5.0%4.5%
    5/9/2022-2.0%1.5%-0.4%
    2/23/2022-1.0%2.3%3.6%
    11/10/20211.9%-5.8%-6.9%
    8/11/2021-0.2%-0.6%-1.6%
    5/12/20210.9%7.1%5.7%
    2/24/20210.9%11.3%8.5%
    11/4/20202.6%0.9%7.7%
    SUMMARY STATS   
    # Positive111513
    # Negative13911
    Median Positive1.9%2.7%5.7%
    Median Negative-1.5%-5.8%-6.9%
    Max Positive3.3%11.3%9.0%
    Max Negative-8.3%-13.5%-13.6%

    SEC Filings

    Expand for More
    Report DateFiling DateFiling
    06/30/202608/10/202610-Q
    03/31/202605/13/202610-Q
    12/31/202502/25/202610-K
    09/30/202511/12/202510-Q
    06/30/202508/13/202510-Q
    03/31/202505/14/202510-Q
    12/31/202402/19/202510-K
    09/30/202411/12/202410-Q
    06/30/202408/12/202410-Q
    03/31/202405/08/202410-Q
    12/31/202302/21/202410-K
    09/30/202311/08/202310-Q
    06/30/202308/09/202310-Q
    03/31/202305/10/202310-Q
    12/31/202202/22/202310-K
    09/30/202211/09/202210-Q
     Collapse to Preview
    Report DateFiling DateFiling
    06/30/202608/10/202610-Q
    03/31/202605/13/202610-Q
    12/31/202502/25/202610-K
    09/30/202511/12/202510-Q
    06/30/202508/13/202510-Q
    03/31/202505/14/202510-Q
    12/31/202402/19/202510-K
    09/30/202411/12/202410-Q
    06/30/202408/12/202410-Q
    03/31/202405/08/202410-Q
    12/31/202302/21/202410-K
    09/30/202311/08/202310-Q
    06/30/202308/09/202310-Q
    03/31/202305/10/202310-Q
    12/31/202202/22/202310-K
    09/30/202211/09/202210-Q
    06/30/202208/10/202210-Q
    03/31/202205/09/202210-Q
    12/31/202102/23/202210-K
    09/30/202111/10/202110-Q
    06/30/202108/11/202110-Q
    03/31/202105/12/202110-Q
    12/31/202002/24/202110-K
    09/30/202011/04/202010-Q
    06/30/202008/10/202010-Q
    03/31/202005/12/202010-Q
    12/31/201903/04/202010-K
    09/30/201911/07/201910-Q

    Recent Forward Guidance

    Updated 8/11/2026

    Latest: Q2 2026 Earnings Reported 8/10/2026

    Forward GuidanceGuidance Change
    MetricSourceLowMidHigh% Chg% DeltaChangePrior
    Q3 2026 DividendsReported 0.34 0.0% AffirmedActual: 0.34 for Q2 2026
    Q3 2026 Special DividendsReported 0.03 0.0% AffirmedGuidance: 0.03 for Q3 2026
    Q4 2026 Special DividendsReported 0.03 0.0% AffirmedGuidance: 0.03 for Q4 2026


    Prior: Q1 2026 Earnings Reported 5/13/2026

    Forward GuidanceGuidance Change
    MetricSourceLowMidHigh% Chg% DeltaChangePrior
    Q2 2026 Regular DividendReported 0.34 -19.0% LoweredActual: 0.42 for Q1 2026
    Q2 2026 Special DividendReported 0.03    
    Q3 2026 Special DividendReported 0.03    
    Q4 2026 Special DividendReported 0.03    

    Q4 2025 Earnings Reported 2/25/2026

    Forward GuidanceGuidance Change
    MetricSourceLowMidHigh% Chg% DeltaChangePrior
    Q1 2026 DividendsReported 0.42 0 AffirmedActual: 0.42 for Q4 2025

    Q3 2025 Earnings Reported 11/12/2025

    Forward GuidanceGuidance Change
    MetricSourceLowMidHigh% Chg% DeltaChangePrior
    Q4 2025 DividendsReported 0.42 0 Same NewActual: 0.42 for Q3 2025

    Insider Activity

    Updated 9/8/2026
    Expand for More
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Fidelity, & Guaranty Life Insurance CO DirectSell908202610.3910,471108,75540,982,231Form
    2Fidelity, & Guaranty Life Insurance CO DirectSell908202610.345,01151,81140,905,833Form
    3Fidelity, & Guaranty Life Insurance CO DirectSell903202610.4445,000470,01641,374,767Form
    4Fidelity, & Guaranty Life Insurance CO DirectSell903202610.5011,285118,49242,065,930Form
    5Fidelity, & Guaranty Life Insurance CO DirectSell901202610.6240,000424,82042,668,538Form
     Collapse to Preview
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Fidelity, & Guaranty Life Insurance CO DirectSell908202610.3910,471108,75540,982,231Form
    2Fidelity, & Guaranty Life Insurance CO DirectSell908202610.345,01151,81140,905,833Form
    3Fidelity, & Guaranty Life Insurance CO DirectSell903202610.4445,000470,01641,374,767Form
    4Fidelity, & Guaranty Life Insurance CO DirectSell903202610.5011,285118,49242,065,930Form
    5Fidelity, & Guaranty Life Insurance CO DirectSell901202610.6240,000424,82042,668,538Form
    6Fidelity, & Guaranty Life Insurance CO DirectSell901202610.6015,000159,03043,018,294Form
    7Fidelity, & Guaranty Life Insurance CO DirectSell828202610.6027,195288,38443,186,690Form
    8Fidelity, & Guaranty Life Insurance CO DirectSell828202610.6032,091340,20643,462,775Form
    9Fidelity, & Guaranty Life Insurance CO DirectSell826202610.7440,000429,59244,375,243Form
    10Fidelity, & Guaranty Life Insurance CO DirectSell826202610.7233,457358,55544,709,299Form
    11Lombard, GerhardChief Financial OfficerDirectBuy820202610.912,00021,820441,953Form
    12Chung, HenryPresidentDirectBuy522202611.454,50051,525237,267Form
    13Strandberg, Steven F Diana and Steven Strandberg Revocable TrustBuy520202611.2885,000958,4862,268,059Form
    14Lombard, GerhardChief Financial OfficerDirectBuy520202611.121,00011,120415,588Form
    15Lombard, GerhardChief Financial OfficerDirectBuy1118202513.342,00026,683457,400Form

    Investor Activity (13F)

    Updated Sep 21, 2026
    13F holdings as of Mar 31, 2026 (Q1 2026)

    Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Fidelity National Financial, Inc.$51.1 Mil1.9%21Hold13F
    Active Manager
    Active Manager
    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Fidelity National Financial, Inc.$51.1 Mil1.9%21Hold13F

    Industry Resources

    External Quote Links


    Prefer one of these to Trefis? Tell us why.
    Core Cache Last Updated: 9/20/2026