Nuveen Churchill Direct Lending

NCDL

Market cap $733M

Overview Fund Activity

14.85 USD

-0.49

3.19%

At close Updated Sep 15, 4:00 PM EDT

Pre-market

After hours

14.93

+0.08

0.54%

1 day

-3.19%

5 days

-6.95%

1 month

-7.59%

3 months

-8.9%

6 months

-14.36%

Year to date

-11.29%

1 year

-16.81%

5 years

-16.81%

10 years

-16.81%

About: Nuveen Churchill Direct Lending Corp is a specialty finance company focused predominantly on investing in senior secured loans to private equity-owned U.S. middle market companies. It invest in senior secured loans that typically pay floating interest rates and are senior in the capital structure to junior debt and equity.

Financials Asset Management

0

Funds holding %

of 7,463 funds

–

Analysts bullish %

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

68% more repeat investments, than reductions

Existing positions increased: 32 | Existing positions reduced: 19

0% more funds holding in top 10

Funds holding in top 10: 2 [Q1] → 2 (+0) [Q2]

0.17% less ownership

Funds ownership: 28.16% [Q1] → 27.99% (-0.17%) [Q2]

8% less capital invested

Capital invested by funds: $248M [Q1] → $228M (-$19.8M) [Q2]

10% less funds holding

Funds holding: 80 [Q1] → 72 (-8) [Q2]

42% less first-time investments, than exits

New positions opened: 11 | Existing positions closed: 19

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Research analyst outlook

2 Wall Street Analysts provided 1 year price targets over the past 3 months

Low target

$17.5

18% upside

Avg. target

$17.75

20% upside

High target

$18

21% upside

2 analyst ratings

1 positive

50%

1 neutral

50%

0 negative

0%

UBS Vilas Abraham	$17.5	Neutral Maintained	16 Jul 2025
JMP Securities Devin Ryan	$18	Market Outperform Maintained	24 Jun 2025

See Analyst Rankings

Financial journalist opinion

Based on 5 articles about NCDL published over the past 30 days

Are You Falling For These 3 BDC Dividend Myths

BDCs have two issues: 1) almost no margin of safety for dividend coverage, and 2) depressed earnings outlook. For many players it is just a matter of several quarters before they become forced to cut dividends. Yet, there are many arguments, which negate such a view. Unfortunately, many of them ar myths.

Are You Falling For These 3 BDC Dividend Myths

CEFs Are Becoming Less Appealing For Income Investors

The investment case for closed-end funds (CEFs) is weak now due to tight discounts, high leverage costs, and expensive underlying assets. Most CEFs do not deliver sustainable alpha, and lower-fee actively managed ETFs now offer similar exposures with better economics. We have reduced our CEF allocation, favoring alternatives like BDCs, select ETFs, preferreds, and bonds for better value and risk/reward.

CEFs Are Becoming Less Appealing For Income Investors

24/7 Wall Street

Bank of America Has Buy Ratings on 4 Ultra-High-Yield Dividend Giants

BofA Securities is the investment banking and capital markets division of Bank of America, one of the largest financial institutions in the United States.

Bank of America Has Buy Ratings on 4 Ultra-High-Yield Dividend Giants

Nuveen Churchill Direct Lending: Solid Performance Despite End Of Fee Waivers

NCDL delivered outperformance in Q2 in absolute terms and particularly in valuation-adjusted basis terms. The company trades at a 10% discount and 11.1% yield. The share repurchase program and favorable fee structure demonstrate commitment to shareholder value.

Nuveen Churchill Direct Lending: Solid Performance Despite End Of Fee Waivers

BDC Weekly Review: BDC Earnings Deluge

We take a look at the action in business development companies through the second week of August and highlight some of the key themes we are watching. BDCs traded flat this week, with earnings reports driving sector movement; valuations remain attractive versus historical averages. Recent earnings highlight strong performance from FDUS and NCDL.

BDC Weekly Review: BDC Earnings Deluge

Nuveen Churchill Direct Lending Corp. (NCDL) Q2 2025 Earnings Call Transcript

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL ) Q2 2025 Earnings Conference Call August 6, 2025 11:00 AM ET Company Participants Kenneth John Kencel - CEO, President & Chairman Robert Paun - MD & Head of Investor Relations, Retail & Wealth Shaul Vichness - CFO & Treasurer Conference Call Participants Arren Saul Cyganovich - Truist Securities, Inc., Research Division Brian J. Mckenna - Citizens JMP Securities, LLC, Research Division Cory Johnson - UBS Investment Bank, Research Division Operator Welcome to Nuveen Churchill Direct Lending Corp.'s Second Quarter 2025 Earnings Call.

Nuveen Churchill Direct Lending Corp. (NCDL) Q2 2025 Earnings Call Transcript

Zacks Investment Research

Nuveen Churchill Direct Lending Corp. (NCDL) Meets Q2 Earnings Estimates

Nuveen Churchill Direct Lending Corp. (NCDL) came out with quarterly earnings of $0.46 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.57 per share a year ago.

Nuveen Churchill Direct Lending Corp. (NCDL) Meets Q2 Earnings Estimates

Nuveen Churchill Direct Lending Corp. Announces Second Quarter 2025 Results

NEW YORK--(BUSINESS WIRE)--Nuveen Churchill Direct Lending Corp. (NYSE: NCDL) (“NCDL” or the “Company”), a business development company externally managed by its investment adviser, Churchill DLC Advisor LLC (the “Adviser”), and by its sub-adviser, Churchill Asset Management LLC (“Churchill”), today reported financial results for the quarter ended June 30, 2025. Financial Highlights for the Quarter Ended June 30, 2025 Net investment income of $0.46 per share Net realized and unrealized loss on.

Nuveen Churchill Direct Lending Corp. Announces Second Quarter 2025 Results

Nuveen Churchill Direct Lending Corp. Schedules Second Quarter 2025 Earnings Release and Conference Call

NEW YORK--(BUSINESS WIRE)--Nuveen Churchill Direct Lending Corp. (NYSE: NCDL) (“NCDL” or “the Company”), today announced it will report its financial results for the second quarter ended June 30, 2025, on Wednesday, August 6, 2025, before the market opens. The Company will host an earnings conference call and public webcast at 11:00 AM Eastern Time the same day to discuss its financial results. All interested parties may participate in the conference call by dialing (866)-605-1826 approximately.

Nuveen Churchill Direct Lending Corp. Schedules Second Quarter 2025 Earnings Release and Conference Call

BDC Misconceptions Setting Investors Up For Failure

BDCs face a number of misconceptions in the commentariat having to do with earnings, dividend coverage, and more. Short-term rates are still attractive, BDC valuations are reasonable, and portfolio quality has improved; floating-rate assets remain compelling even at lower levels. Investors should focus on rigorous analysis, valuations, and NII yield, not simplistic headlines or price momentum.

BDC Misconceptions Setting Investors Up For Failure

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