Feb. 3 at 11:27 PM
$OWL $HTGC So apparently the reason for the drop today is because 20% of most BDC's are comprised of loans to software companies and they think ai is going to destroy these smaller software companies because of automated coding. The only problem with that thesis is that HTGC reported preliminary earnings today and the results are great. HTGC also has the highest software exposure of any BDC at 35% which disproves the ai is destroying software lending thesis.
NAV per share as of Dec 31, 2025:
$12.10–
$12.16, up
$0.05–
$0.11 (0.4%–0.9%) from
$12.05 at Sep 30, 2025.
Q4 2025 net realized gains ≈
$20M
Q4 2025 NII:
$0.47–
$0.49/share vs. analyst est.
$0.49/share.
Prelim. Q4 gross new debt/equity commitments & fundings ≈
$1.0B and
$0.5B.
Non-accrual investments <0.5% of portfolio (fair value & cost) at Dec 31, 2025, down from 1.2% (cost) at Sep 30, 2025.