VanEck BDC Income ETF Sees Strong Insider Buying Activity

Strong insider buying reported in BIZD Holdings, with 28.5% of weighted holdings experiencing insider buying within the past six months. Nuveen Churchill Direct Lending Corp (NCDL) is one such holding, where 4 directors and officers have purchased shares. The ETF holds $13,806,479 worth of NCDL, making it the #23 largest holding.

A recent analysis of the VanEck BDC Income ETF (BIZD) reveals an impressive 28.5% of its weighted holdings have experienced insider buying within the past six months. This trend is particularly notable for Nuveen Churchill Direct Lending Corp (NCDL), which makes up 0.84% of the ETF's holdings. According to Form 4 data, four directors and officers have purchased shares in NCDL over the past six months [1].

NCDL, with a market value of $13,806,479 in the ETF, ranks as the 23rd largest holding. The insider buying activity includes purchases by Kenneth J. Kencel, CEO & President; Kenneth M. Miranda, Director; Mat Linett; Marissa Hassen, Chief Accounting Officer; and Shaul Vichness, Chief Financial Officer/ Treasurer [1]. These purchases occurred between May and June 2025, with the most recent transaction taking place on June 16, 2025.

The significance of this insider buying lies in the context of NCDL's strategic position in the high-yield fixed-income market. NCDL focuses on disciplined underwriting and senior secured loans, prioritizing U.S. middle-market firms with strong cash flows. This strategy has been particularly resilient in a low-yield and fragile credit environment [2]. The company's focus on floating-rate structures and its expertise as a top U.S. buyouts lender further enhance its resilience [2].

NCDL's Q2 2025 earnings report, scheduled for August 6, 2025, will be a critical test of its ability to navigate a deteriorating credit environment. Despite recent underperformance, the company's disciplined underwriting, resilient portfolio, and tactical capital allocation strategy provide a strong foundation for long-term value creation [2]. Investors should closely monitor the earnings call for insights into the company's leverage ratios and portfolio health.

In conclusion, the strong insider buying in BIZD Holdings, particularly in NCDL, signals confidence in the company's strategic positioning. As investors await NCDL's Q2 2025 earnings report, they should focus on the company's long-term resilience and strategic strengths rather than short-term volatility.

References:
[1] https://www.etfchannel.com/article/202508/strong-insider-buying-reported-in-bizd-holdings-ncdl-BIZD08082025topetf.htm/
[2] https://www.ainvest.com/news/nuveen-churchill-direct-lending-q2-performance-strategic-case-high-yield-fixed-income-deteriorating-credit-environment-2508/