FSK and TRIN Executives Show Significant Insider Buying Activity
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 31 2025
0mins
Source: NASDAQ.COM
- Insider Buying Trend: Within the past six months, 10.2% of the holdings in the FT Confluence BDC & Specialty Finance Income ETF (FBDC) have seen insider buying, indicating a growing confidence in the market.
- FSK Holdings Overview: FS KKR Capital Corp (FSK), making up 4.30% of FBDC, has had two directors and officers purchase shares in the last six months, reflecting internal confidence in the company's future prospects.
- TRIN Buying Activity: Trinity Capital Inc (TRIN), the 19th largest holding in FBDC, recently had three directors and officers file insider purchase reports, showcasing a positive outlook on the company's performance.
- ETF Asset Allocation: FBDC holds a total of $1,682,352 worth of FSK and $503,401 worth of TRIN, representing approximately 1.29% of the ETF's total assets, highlighting the portfolio's diversity and potential growth opportunities.
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Analyst Views on FSK
Wall Street analysts forecast FSK stock price to rise
6 Analyst Rating
0 Buy
6 Hold
0 Sell
Hold
Current: 13.420
Low
15.50
Averages
17.25
High
18.50
Current: 13.420
Low
15.50
Averages
17.25
High
18.50
About FSK
FS KKR Capital Corp. is an externally managed, non-diversified, closed-end management investment company that has elected to be regulated as a business development company. The Company is focused on providing customized credit solutions to private middle market United States companies. Its investment objectives are to generate current income and, to a lesser extent, long-term capital appreciation. Its portfolio is comprised primarily of investments in senior secured loans and second lien secured loans of private middle market United States companies and, to a lesser extent, subordinated loans and certain asset-based financing loans of private United States companies. It may purchase interests in loans or make other debt investments, including investments in senior secured bonds, through secondary market transactions in the over-the-counter market or directly from its target companies as primary market or directly originated investments. The Company is managed by FS/KKR Advisor, LLC.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- OBDC II Fund Dynamics: The OBDC II fund offloaded $600 million in loans, representing 34% of its $1.7 billion portfolio, which will end regular quarterly liquidity payments to investors, shifting to a more restrictive periodic payout model.
- Liquidity Challenges: This transition highlights the increasing liquidity and transparency issues faced by Blue Owl, restricting investors' ability to withdraw funds amid ongoing expansion into the retail wealth space by private asset managers.
- Shareholder Return Plan: Blue Owl intends to use the proceeds from this asset sale to pay down debt and return up to $2.35 per share to OBDC II shareholders, approximately 30% of the fund's net asset value, aiming to create value for shareholders while maintaining a diversified portfolio.
See More
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- Decline in Asset Management Stocks: Ares Management fell over 12%, Blue Owl Capital dropped more than 8%, and KKR and TPG saw declines of nearly 10% and 7%, respectively, reflecting investor concerns about AI's potential impact on cash flows and default risks.
- Rising Default Risks: UBS Group has warned that in an aggressive disruption scenario, default rates in U.S. private credit could rise to 13%, significantly higher than the projected stress for leveraged loans and high-yield bonds, estimated at 8% and 4%, respectively.
- Liquidity Issues Intensified: Although strains in private credit predate AI concerns, Jeffrey C. Hooke noted that existing liquidity and loan extension issues have been exacerbated by recent developments, adding new challenges to an already pressured sector.
See More
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- Private Credit Sector: The emergence of private credit "cockroaches" indicates a shift in the market, particularly affecting the software sector.
- Investment Opportunities: This situation may present new investment opportunities in shares of business development companies that hold the debt of these affected companies.
See More
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- Private Credit Sector: The private credit sector is facing challenges, likened to "cockroaches" emerging from the software industry.
- Opportunities in Business Development Companies: This situation may present investment opportunities in business development companies that hold the debt of affected firms.
See More
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- Market Growth: The private credit market, valued at approximately $2 trillion in 2020, is projected to grow by 50% by early 2025 and could reach nearly $5 trillion by 2029, indicating rapid industry expansion but also inherent risks.
- Credit Risk Warnings: Jeffery Gundlach, CEO of DoubleLine Capital, cautioned that some private credit firms are making 'garbage loans,' while Goldman Sachs CEO Jamie Dimon highlighted overly lenient direct lending standards, suggesting potential credit issues ahead that investors should be wary of.
- Diverse BDC Performance: Prospect Capital's net asset value has significantly eroded, and despite its attractive 19.7% forward dividend yield, its reliance on issuing perpetual preferred stock to raise capital increases fixed payment obligations, potentially jeopardizing the reliability of common stock dividends.
- Quality Investment Opportunities: Ares Capital boasts a portfolio with 61% in first-lien secured loans and a low non-accrual rate of 1.8%, well below industry averages, showcasing its resilience in uncertain market conditions and positioning it as a prime investment choice for cautious investors.
See More
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- Conference Call Timing: The company will host a conference call on February 26, 2026, at 9:00 a.m. (Eastern Time) for its earnings report, allowing all interested parties to participate via the company’s website, enhancing investor engagement.
- Registration Requirements: Research analysts are required to register a day in advance or at least 15 minutes before the call starts to ensure participation, which aims to improve the organization and efficiency of the meeting.
- Investor Presentation: A financial information presentation will be available on the company’s website after the market close on February 25, 2026, further supporting investors' understanding and analysis of the company's financial status.
See More
