FS KKR Capital (FSK)
Provides customized private credit to U.S. middle-market companies through an externally managed BDC.
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Provides senior-secured debt, subordinated debt, and asset-based financing to private U.S. middle-market companies. The NYSE-listed BDC is externally managed by FS/KKR Advisor, a partnership of Future Standard and KKR Credit.
Customized credit solutions for private U.S. middle-market companies are the core business. Investments emphasize senior-secured debt, with smaller allocations to subordinated debt and asset-based-financing loans. The portfolio is concentrated in the United States and is invested across multiple industries. A joint-venture investment vehicle also holds exposures not included in certain separately reported portfolio figures.
FS/KKR Advisor manages the portfolio through an investment committee with KKR Credit and Future Standard appointees. The BDC structure and regulated investment company treatment shape its investment and distribution practices, while statutory asset-coverage rules constrain leverage.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 12, 2026 | RBC Capital | Reiterate | Rating: —Target: $11 | Target: $13 |
| Aug 7, 2026 | Truist Financial | Target | Target: — | Target: $12 |
| Aug 7, 2026 | Capital One Financial | Target | Target: — | Target: $12 |
| May 12, 2026 | RBC Capital | Target | Target: $18 | Target: $11 |
| Oct 6, 2025 | Wells Fargo | Upgrade | Target: $21 | Target: $15 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $107.0M · Total debt $6.47B · Total assets $11.99B · Shareholders' equity $5.27B
- Revenue
- $290.0M
- Operating income
- $122.0M
- Net income
- −$34.0M
HistoryDividendAnnual yield
| Institutions | 38.90% | 107.48M shares | |
|---|---|---|---|
| 460 holders · as of Jun 30, 2026 | |||
| Insiders | 0.07% | 189.4K shares | |
| 8 holders · as of Sep 2, 2026 | |||
| Other | 61.03% | 168.67M shares | |
| remainder | |||
276.34M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Oak Hill Advisors LPInstitution | 4.12% | 11.37M | as of Jun 30, 2026 |
UBS Group AGInstitution | 2.08% | 5.76M | as of Jun 30, 2026 |
Van Eck Associates CorpInstitution | 1.95% | 5.38M | as of Jun 30, 2026 |
Victory Capital Management IncInstitution | 1.82% | 5.03M | as of Jun 30, 2026 |
LPL Financial LLCInstitution | 1.76% | 4.87M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 31, 2026 | Jerel A. Hopkins | director | +800 | $12.44 |
| Aug 11, 2026 | James H. Kropp | director | +1,100 | $12.08 |
| Feb 27, 2026 | James H. Kropp | director | +1,666 | $11.16 |
| Feb 27, 2026 | Daniel Pietrzak | director, officer: President and CIO | +5,000 | $11.25 |
| Dec 5, 2025 | Jerel A. Hopkins | director | +450 | $15.50 |
- Ares Capital
Large-scale direct lender to U.S. private middle-market companies
- Blue Owl Capital
Direct-lending BDC for U.S. middle-market companies
- Blackstone Secured Lending Fund
First-lien private-credit BDC for U.S. companies
- Sixth Street Specialty Lending
Direct-originating BDC focused on U.S. middle-market lending
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| FS KKR Capital | $11.39 | −0.39% | $3.20B | — | 7.3 | 3.4 | +11.5% |
| Ares Capital | $19.36 | −0.41% | $13.96B | 14.4 | 10.1 | 6.0 | +32.6% |
| Blue Owl Capital | $11.16 | −0.31% | $5.55B | 20.0 | 8.7 | 3.9 | −20.8% |
| Blackstone Secured Lending Fund | $24.76 | −0.82% | $5.81B | 19.6 | 9.4 | 5.5 | +25.9% |
| Sixth Street Specialty Lending | $18.05 | +0.06% | $1.71B | 19.0 | 10.1 | 5.0 | −13.0% |
| Median | 19.3 | 9.7 | 5.2 | +6.4% |