New Mountain Finance (NMFC)
Provides direct loans and select junior capital to U.S. sponsor-backed middle-market companies.
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Generates income from senior-secured direct loans and select junior-capital positions in U.S. sponsor-backed middle-market companies. Operates as an externally managed business development company affiliated with New Mountain Capital.
Provides direct-lending solutions to U.S. upper-middle-market companies backed by private-equity sponsors. The portfolio centers on senior-secured loans, complemented by select junior-capital positions, to pursue current income and capital appreciation.
Investment activity is managed by New Mountain Finance Advisers BDC, an affiliate of New Mountain Capital, rather than by company employees. Borrowers are selected through the platform’s stated defensive-growth approach, which emphasizes businesses and end markets with recurring revenue, cash flow, flexible costs, and seasoned management.
As a publicly listed BDC, operations are shaped by regulation under the Investment Company Act of 1940, asset-coverage requirements, and distribution conditions for regulated investment company tax treatment.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 5, 2026 | Wells Fargo | Reiterate | Rating: —Target: — | Target: $7.50 |
| Oct 10, 2025 | New Street | Target | Target: — | Target: $10 |
| Sep 15, 2025 | B of A Securities | Downgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $64.8M · Total debt $1.35B · Total assets $2.42B · Shareholders' equity $1.03B
- Revenue
- $16.5M
- Operating income
- $39.9M
- Net income
- $17.3M
HistoryDividendAnnual yield
| Institutions | 29.69% | 28.04M shares | |
|---|---|---|---|
| 148 holders · as of Jun 30, 2026 | |||
| Insiders | 15.00% | 14.17M shares | |
| 7 holders · as of Sep 11, 2026 | |||
| Strategic holders | 4.07% | 3.84M shares | |
| 1 holder · as of Feb 4, 2020 | |||
| Other | 51.24% | 48.40M shares | |
| remainder | |||
94.45M 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 |
|---|---|---|---|
Steven B. Klinsky1Insiderdirector, 10 percent owner | 13.05% | 12.33M | filed Mar 12, 2026 |
Wells Fargo & CompanyStrategic | 4.07% | 3.84M | filed Feb 4, 2020 |
LSV Asset ManagementInstitution | 3.18% | 3.00M | as of Jun 30, 2026 |
UBS Group AGInstitution | 2.62% | 2.48M | as of Jun 30, 2026 |
Van Eck Associates CorpInstitution | 2.27% | 2.15M | as of Jun 30, 2026 |
- Steven B. Klinsky's transaction reports restate only vehicles that traded; the 2026 ownership statement (12.33M) is used instead.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 15, 2026 | John P. Malfettone | director | −77,500 | $7.89 |
| Mar 17, 2026 | Adam B. Weinstein | director, officer: EVP, CAO and Director | +12,900 | $7.61 |
| Mar 10, 2026 | Steven B. Klinsky | director, 10 percent owner: | +223,758 | $8.05 |
| Mar 11, 2026 | Steven B. Klinsky | director, 10 percent owner: | +276,242 | $8.05 |
| Mar 5, 2026 | Steven B. Klinsky | director, 10 percent owner: | +237,873 | $8.10 |
- Ares Capital
Direct loans and investments for private U.S. middle-market companies
- Blue Owl Capital
Direct lending solutions for private U.S. middle-market companies
- Golub Capital BDC
First-lien loans to sponsor-backed middle-market companies
- Blackstone Secured Lending Fund
First-lien senior-secured debt for private U.S. companies
- FS KKR Capital
Customized credit for private U.S. middle-market companies
- Sixth Street Specialty Lending
Flexible, fully committed financing for U.S. middle-market companies
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| New Mountain Finance | $7.12 | +0.14% | $671.6M | — | 6.9 | 3.9 | −36.5% |
| Ares Capital | $19.37 | −0.36% | $13.96B | 14.4 | 10.1 | 6.0 | +32.6% |
| Blue Owl Capital | $11.18 | −0.09% | $5.55B | 20.0 | 8.7 | 3.9 | −20.8% |
| Golub Capital BDC | $12.56 | +0.08% | $3.27B | 22.8 | 9.8 | 4.6 | −14.2% |
| Blackstone Secured Lending Fund | $24.76 | −0.82% | $5.81B | 19.6 | 9.4 | 5.5 | +25.9% |
| FS KKR Capital | $11.37 | −0.57% | $3.20B | — | 7.3 | 3.4 | +11.5% |
| Sixth Street Specialty Lending | $18.15 | +0.61% | $1.71B | 19.0 | 10.2 | 5.0 | −13.0% |
| Median | 19.6 | 9.6 | 4.8 | −0.8% |