A public, graded record of valuation views on Private Credit BDCs — every call timestamped, sourced, and scored against just holding the index.

Horizon: 12 months Benchmark: BIZD (BDC index ETF) Baseline: just hold BIZD Scoring: total return, dividend-adjusted No-calls are graded too.

The claim ledger · hard-numeric checks

Every checkable claim, with a due date.

Each row is a specific, numeric claim tied to a view — something the next filing either bears out or doesn't, by a date set in advance. Open claims sit at the top, soonest due first.

3Resolved
2Confirmed
1Contradicted
3Open

A confirmed claim means the numbers bore it out, not that the view was right — the call is graded separately, on its own 12-month horizon.

Claim Name Metric What was claimed Due by Status How it read
CLM-0001
view ONR-0006
ARCC Price / NAV ARCC trades below NAV (P/NAV under 1.00x) as of the next reported quarter-end.
ARCC Q1 10-Q (SEC EDGAR)
Open awaiting the next filing
CLM-0002
view ONR-0006
ARCC Non-accruals Non-accruals stay at or below 2.0% of fair value through the next two quarters.
ARCC Q1 10-Q (SEC EDGAR)
Open awaiting the next filing
CLM-0005
view ONR-0005
HTGC Non-accruals HTGC non-accruals rise above 2.0% of cost in either of the next two quarters.
HTGC Q1 10-Q (SEC EDGAR)
Open awaiting the next filing
CLM-0003
view ONR-0003
OBDC Price / NAV OBDC's premium to NAV narrows to 1.05x or below within the 12-month horizon.
OBDC 10-Q (SEC EDGAR)
Confirmed At the horizon date the reported P/NAV stood at ~1.01x, inside the 1.05x level named in the claim. The observed multiple matched the figure written down at issue.
CLM-0004
view ONR-0003
OBDC Total return vs BIZD OBDC's 12-month total return lands behind BIZD over the horizon.
Total-return series, dividend-adjusted vs BIZD
Confirmed Dividend-adjusted total return came in at -4.2% against BIZD's +6.1% — the name finished behind the benchmark, as the claim recorded.
CLM-0006
view ONR-0001
ARCC NII / dividend coverage Net investment income covers the dividend at 1.05x or better in the next reported quarter.
ARCC Q1 10-Q (SEC EDGAR)
Contradicted Reported NII covered the dividend at ~1.0x for the quarter, short of the 1.05x figure named in the claim. The observed coverage came in under the level written down.

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