Press & media

What Kitalpha Finance is

Kitalpha Finance is a financial data and analysis publisher operated by D & W Investment and Consulting Group Pty Ltd (ACN 677 106 268, ABN 71 677 106 268), a company registered in Brisbane, Queensland, Australia. It is free to read: there is no paywall and no subscription.

The editorial rule behind everything we publish is that a claim must trace to a document. Our briefs quote primary sources verbatim, carry a named human editor who is accountable for publication, and each ships with a cryptographic Signed Brief receipt that anyone can verify independently. Our datasets are extracted from filings by deterministic parsers, not summarised by a model, and a figure that fails its cross-checks is published as unread rather than as a number. We provide general information only and do not give financial advice — see our editorial standards and corrections policy.

The Gate Watch dataset

A non-traded business development company has no stock exchange behind it. The only regular way out for a shareholder is the fund's own quarterly tender offer: shareholders submit repurchase requests, and the fund either honors all of them or honors a share of each — proration. Gate Watch reports what each fund honored, quarter by quarter, from the funds' own SEC filings.

Funds with a parsed result

42

of a 65-fund universe derived from EDGAR

Prorated in the latest quarter

15

honored part of what was requested

Honored in full

27

met every request put to them

Filings published as unread

21

read, not reconciled, listed anyway

Last sweep: Aug 6, 2026, 07:10 AM UTC. The sweep runs daily at 07:10 UTC.

What a reporter should know before quoting it

• It is filings-only. Every figure comes from a fund's own filing on SEC EDGAR — for a BDC, the final amendment to its tender offer statement (Form SC TO-I/A), which states shares tendered, shares accepted and the price paid. There is no survey, no estimate and no modelled figure anywhere in the dataset.
• Every number links to its document. Each row on the board and each row on a fund page carries the form type, the filing date and a link to the filing itself. You can check any figure we publish against the primary source in one click, and we would rather you did.
• Refusals are published. When we read a filing and cannot reconcile its figures, we list it as unread with the reason, rather than dropping it. A fund missing from the board because we could not read its filing is not the same as a fund that honored every request, and the dataset keeps those two states apart.
• “Prorated” is not a verdict. Honoring part of a quarter's requests is what these funds' prospectuses permit, and the tracker says what happened without drawing a conclusion from it. We describe; we do not rate, rank by quality, or advise.
• The list is derived, not curated. It was built by reading EDGAR's index for every filer of the relevant form since January 2024 and keeping those whose filings parse and reconcile. The methodology states the derivation, the checks, the update cadence, and which kinds of fund are deliberately excluded and why.

The board Methodology

How to credit us

You may quote and reproduce any figure published on this site, in any medium, without asking us first. We ask only that the figure be attributed. The line we ask for is:

according to Kitalpha Gate Watch data

A link to dwkitalpha.com/gate-watch is welcome but not required. Where you are quoting a single fund, linking that fund's page lets your readers reach the underlying filing themselves.

The underlying filings are U.S. government works on EDGAR and are not ours to license; what we ask attribution for is the extraction, the cross-checking and the presentation. If you need a figure we have not published, or a cut of the data we do not show, ask — the answer is usually yes.

Downloadable chart assets are not available yet. In the meantime the board and every fund page are plain server-rendered HTML that screenshots cleanly, and we will prepare a specific chart on request.

Standing boilerplate

For the notes-to-editors paragraph at the foot of a story. This text is maintained here and may be used as-is:

Kitalpha Finance is a financial data and analysis publisher operated by D & W Investment and Consulting Group Pty Ltd (ACN 677 106 268), based in Brisbane, Australia. It publishes primary-source financial datasets and briefs in which every figure traces to an attributed, verbatim source document — including Gate Watch, a tracker of what non-traded business development companies honored of their shareholders’ quarterly repurchase requests, read from those funds’ own SEC filings. Kitalpha Finance is free to read and provides general information only; it does not provide financial advice.

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