MAIN
Main Street Capital Corporation
stock NYSE

Just wanted to add the two MAIN reason why we can get steep short-term drawdowns but long-term steady returns:
a) institutions and fund managers have short-term performance mandates. usually a year or less.
b) people tend to need money over the medium term, and don't have enough in safe bonds or are over-levered.

One thing I keep coming back to with this setup is how much of the dividend work is being done by funds that mostly hold the same companies.
SCHD, DGRO, SCHY, SCHG, and the BDCs are all reaching for a pretty similar part of the market, and the 40% allocation to SCHG is doing a lot to pull the whole portfolio toward large cap growth. With CSWC, FSCO, and MAIN on top, you've also got meaningful exposure to the credit side of the market, which is the part that tends to get interesting in a bad year.
If you laid out this same portfolio and a 30+ percent drawdown happened, would you actually keep feeding the 40% to SCHG, or would that be the moment you start wanting to spread the new $250 around more evenly?
Personally I'd probably push SCHD or DGRO up and let SCHG sit closer to the 20 to 30 range, just so the growth sleeve isn't steering the whole account.

My primary goal is current income and I've done a ton of reseearch to find quality stocks. To that end, I hold VZ, MAIN, O, ENB, and DUK. Those give me decent diversification and good yields that have stayed safe over time, and usually grow (albeit slowly). O has done particularly well. I have an S&P 500 fund for growth and capital appreciation, and a Treasury MM fund for spare cash and emergencies, currently yielding about 3.4%. I continue to add to them every month, with a goal of hitting $1500/month in dividends (excluding the MM fund). I'm not looking for big growth in these stocks: I have the 500 fund for that. I've been looking at bonds as well, but haven't made the jump yet.
I helps that I have zero debt and a credit score well over 800. No mortgage and the car is paid for. The credit card bill gets paid off every month. This mix lets me sleep well at night and I'm comfortable with it, knowing my spouse will have a steady stream of income and be in a good financial position if something happens to me.

Previously posted my holdings and received some good feedback from here and elsewhere. Have simplified things from there and may simplify further than this eventually. 43 years and already have a good pension plan, a 457B, and a money market. In a taxable brokerage that I want to supplement these I have the following and am DRIP'ing them:
CSWC - 100 shares
DGRO - 10 shares
FSCO - 102.18 shares
MAIN - 11.23 shares
SCHD - 30 shares
SCHG - 35 shares
SCHY - 10 shares
Going forward plan to invest $250 per month allocated as follows: 40% to SCHG, 30% to SCHD, 20% to DGRO, 7% to SCHY, 3% divided between CSWC, FSCO, and MAIN.
Some months can probably increase investment to \~$400.
So how am I doing now?

Eh. I prefer MAIN for my taxable. ARCC and HTGC are in the ROTH. I'd compare them more so to a REIT though. MLPs issue K1 tax forms.

You own crappy funds and give crappy advice
PBDC
• High yield
• High acquired fund fees
• Concentrated in top BDCs
• Sensitive to rate cycles
• Long-term returns lag broad market
FBDC
• Same structural issues
• Higher turnover
• More aggressive weighting
• More volatile
BIZD
• Oldest BDC ETF
• Heavy concentration in a few names (ARCC, MAIN, etc.)
• NAV decay over time
• Underperforms S&P 500 massively

Just wanted to add the two MAIN reason why we can get steep short-term drawdowns but long-term steady returns:
a) institutions and fund managers have short-term performance mandates. usually a year or less.
b) people tend to need money over the medium term, and don't have enough in safe bonds or are over-levered.

One thing I keep coming back to with this setup is how much of the dividend work is being done by funds that mostly hold the same companies.
SCHD, DGRO, SCHY, SCHG, and the BDCs are all reaching for a pretty similar part of the market, and the 40% allocation to SCHG is doing a lot to pull the whole portfolio toward large cap growth. With CSWC, FSCO, and MAIN on top, you've also got meaningful exposure to the credit side of the market, which is the part that tends to get interesting in a bad year.
If you laid out this same portfolio and a 30+ percent drawdown happened, would you actually keep feeding the 40% to SCHG, or would that be the moment you start wanting to spread the new $250 around more evenly?
Personally I'd probably push SCHD or DGRO up and let SCHG sit closer to the 20 to 30 range, just so the growth sleeve isn't steering the whole account.

My primary goal is current income and I've done a ton of reseearch to find quality stocks. To that end, I hold VZ, MAIN, O, ENB, and DUK. Those give me decent diversification and good yields that have stayed safe over time, and usually grow (albeit slowly). O has done particularly well. I have an S&P 500 fund for growth and capital appreciation, and a Treasury MM fund for spare cash and emergencies, currently yielding about 3.4%. I continue to add to them every month, with a goal of hitting $1500/month in dividends (excluding the MM fund). I'm not looking for big growth in these stocks: I have the 500 fund for that. I've been looking at bonds as well, but haven't made the jump yet.
I helps that I have zero debt and a credit score well over 800. No mortgage and the car is paid for. The credit card bill gets paid off every month. This mix lets me sleep well at night and I'm comfortable with it, knowing my spouse will have a steady stream of income and be in a good financial position if something happens to me.

Previously posted my holdings and received some good feedback from here and elsewhere. Have simplified things from there and may simplify further than this eventually. 43 years and already have a good pension plan, a 457B, and a money market. In a taxable brokerage that I want to supplement these I have the following and am DRIP'ing them:
CSWC - 100 shares
DGRO - 10 shares
FSCO - 102.18 shares
MAIN - 11.23 shares
SCHD - 30 shares
SCHG - 35 shares
SCHY - 10 shares
Going forward plan to invest $250 per month allocated as follows: 40% to SCHG, 30% to SCHD, 20% to DGRO, 7% to SCHY, 3% divided between CSWC, FSCO, and MAIN.
Some months can probably increase investment to \~$400.
So how am I doing now?

Eh. I prefer MAIN for my taxable. ARCC and HTGC are in the ROTH. I'd compare them more so to a REIT though. MLPs issue K1 tax forms.

You own crappy funds and give crappy advice
PBDC
• High yield
• High acquired fund fees
• Concentrated in top BDCs
• Sensitive to rate cycles
• Long-term returns lag broad market
FBDC
• Same structural issues
• Higher turnover
• More aggressive weighting
• More volatile
BIZD
• Oldest BDC ETF
• Heavy concentration in a few names (ARCC, MAIN, etc.)
• NAV decay over time
• Underperforms S&P 500 massively

MAIN and ARCC. You missed the BDC fear discount early this year, but if yield is the goal and high quality is important...they are top tier in BDCs.