MidCap Financial (MFIC)
Provides senior secured loans to private U.S. middle-market companies through an Apollo-managed BDC.
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Provides primarily directly originated, first-lien senior-secured loans to private U.S. middle-market companies. The externally managed BDC relies on Apollo Investment Management and the MidCap Financial origination platform.
Channels capital chiefly into directly originated, privately negotiated first-lien senior-secured loans for private U.S. middle-market companies. It can also hold unitranche, second-lien, unsecured, subordinated, mezzanine, and equity investments, but these are less central to the mandate.
Operates as a closed-end business development company with RIC tax treatment and is externally managed by Apollo Investment Management. The company has no direct employees; affiliate and adviser personnel provide finance, legal, compliance, and administrative services. Its stated objective is current income and, to a lesser extent, long-term capital appreciation. Its investment strategy relies on loans originated through the MidCap Financial platform.
Company facts
Categories
Target rangeAs of Sep 2, 2026
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 31, 2026 | Compass Point | Reiterate | Buy | $16 | $11.75 | |
| Aug 10, 2026 | Wells Fargo | Reiterate | Equal Weight | $11 | $9 | |
| Aug 7, 2026 | Truist Financial | Reiterate | Buy | $12 | ||
| Jan 7, 2026 | Wells Fargo | Downgrade | Overweight | Equal Weight | $11 | |
| Nov 10, 2025 | Compass Point | Downgrade | Buy | Neutral |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $43.3M · Total debt $1.74B · Total assets $2.86B · Shareholders' equity $1.10B
- Revenue
- $68.1M
- Operating income
- $9.9M
- Net income
- −$17.5M
Raised for 3 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Sep 8, 2026 | Sep 8 | Sep 24 | $0.31 | upcoming |
| Jun 9, 2026 | Jun 9 | Jun 25 | $0.31 | |
| Mar 10, 2026 | Mar 10 | Mar 26 | $0.31 | cut from $0.38 |
| Dec 9, 2025 | Dec 9 | Dec 23 | $0.38 | |
| Sep 9, 2025 | Sep 9 | Sep 25 | $0.38 | |
| Jun 10, 2025 | Jun 10 | Jun 26 | $0.38 | |
| Mar 11, 2025 | Mar 11 | Mar 27 | $0.38 | |
| Dec 10, 2024 | Dec 10 | Dec 26 | $0.38 | |
| Sep 10, 2024 | Sep 10 | Sep 26 | $0.38 |
| Institutions173 holders · as of Jun 30, 2026 | 38.64% | 31.83M shares | |
| Insiders5 holders · as of Feb 12, 2026 | 0.75% | 616.4K shares | |
| Otherremainder | 60.61% | 49.92M shares |
82.37M company shares as of Sep 3, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Evidence |
|---|---|---|---|
Thornburg Investment Management IncInstitution | 3.93% | 3.24M | 13Fas of Jun 30, 2026 |
Apollo Management Holdings, L.P.Institution | 2.85% | 2.35M | 13Fas of Jun 30, 2026 |
Van Eck Associates CorpInstitution | 2.56% | 2.10M | 13Fas of Jun 30, 2026 |
Soros Fund Management LLCInstitution | 2.36% | 1.94M | 13Fas of Jun 30, 2026 |
UBS Group AGInstitution | 2.34% | 1.93M | 13Fas of Jun 30, 2026 |
| See all 25 → | |||
13F — a manager's quarterly holdings
Insider tradesForm 4
No open-market trades in the last 12 months.
- Ares Capital
Large-scale BDC with a first-lien senior-secured lending book
- Blue Owl Capital
U.S. middle-market BDC with a predominantly first-lien portfolio
- Blackstone Secured Lending Fund
Private-credit BDC with a first-lien debt investment focus
ComparePre-market
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| MidCap Financial | $9.75 | +0.98% | $796.5M | — | 7.4 | 3.1 | +28.6% |
| Ares Capital | $20.03 | +0.02% | $14.37B | 14.8 | 10.4 | 6.2 | +32.6% |
| Blue Owl Capital | $11.36 | −0.04% | $5.64B | 20.3 | 8.8 | 4.0 | −20.8% |
| Blackstone Secured Lending Fund | $24.91 | +0.97% | $5.74B | 19.4 | 9.4 | 5.4 | +25.9% |
| Median | 19.4 | 9.4 | 5.4 | +25.9% |