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GSBD on NYSE

Goldman Sachs BDC, Inc.

Corporation registered in the United States, active since 20122

In its 2026 annual report the company says: “We are a specialty finance company focused on lending to middle-market companies. We are a closed-end management investment company that has elected to be regulated as a BDC under the Investment Company Act of 1940, as amended.”11 It is headquartered in New York, United States.2 Its shares trade on NYSE under the symbol GSBD.2

$8.95 up 0.30 (3.53%)Price as of Oct 15, 2026 at 17:33 UTC

Last updated Oct 21, 2026.

Overview

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  • TickerGSBD on NYSE2
  • HeadquartersNew York, United States2
  • Incorporated inDE4
  • Business address200 West Street, Att: Private Credit Group, New York, Ny 102824
  • Filer categoryLarge accelerated filer4
  • Legal formCorporation2
  • LEI6D01AGSGBNZIJSN770432
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressCORPORATION TRUST CENTER 1209 ORANGE ST, 19801 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 52189272

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Net income5678$119.3M in 2025−32% since 2020
0$50.0M$100.0M$150.0M$200.0M2020: $176.1M$176.1M20202021: $192.4M$192.4M2021+9%2022: $55.0M$55.0M2022−71%2023: $195.9M$195.9M2023+256%2024: $62.9M$62.9M2024−68%2025: $119.3M$119.3M2025+90%

Every line of the income statement as filed: the last 5 fiscal years, latest first.8

Period ending2025-12-312024-12-312023-12-312022-12-312021-12-31
Investment income$365.6M$434.4M$454.9M
Interest and other debt expenses$111.6M$113.7M$111.3M
Management fees$33.4M$35.2M$35.5M
Incentive fees$26.2M$17.2M$49.4M
Professional fees$3.3M$5.0M$3.5M
Directors' fees$828.0K$828.0K$823.0K
Other general and administrative expenses$4.6M$4.5M$4.3M
Total expenses$180.0M$176.5M$204.8M
Fee waivers$0-$2.0M
Net expenses$180.0M$176.5M$202.8M
Net investment income before taxes$185.6M$257.9M$252.1M
Income tax expense, including excise tax$4.0M$5.3M$4.8M
Net investment income after taxes$181.6M$252.6M$247.2M
Net realized and unrealized gains (losses)-$62.2M-$189.5M-$50.7M
(Provision) benefit for taxes on realized gain/loss on investments-$80.0K-$492.0K-$1.2M
(Provision) benefit for taxes on unrealized appreciation/depreciation on investments$0$308.0K$575.0K
Net increase (decrease) in net assets from operations$119.3M$62.9M$195.9M
Weighted average shares outstanding115.6M shares114.7M shares108.3M shares
Net investment income per share basic$1.57$2.20$2.28$2.24$2.33
Net investment income per share diluted$1.57$2.20$2.28
Earnings per share basic$1.03$0.55$1.81
Earnings per share diluted$1.03$0.55$1.81

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Corporate structure

Goldman Sachs BDC, Inc. sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Goldman Sachs BDC, Inc.

  • Goldman Sachs Filed SC 13G/A on Goldman Sachs BDC, Inc., latest Feb 13, 2024 (3 filings since Feb 3, 2022)
  • Goldman Sachs BDC, Inc. New York, New York, United States
    • SENIOR CREDIT FUND, LLC Subsidiary · Wilmington, Delaware, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Goldman Sachs BDC, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Properties, in its own words

We maintain our principal executive office at 200 West Street, New York, New York 10282. We do not own any real estate.

Item 2 of the 10-K filed Feb 26, 2026.11

Leadership

Who has led Goldman Sachs BDC, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Vivek Bantwal2025–now

Chief financial officer

  1. Jonathan Lamm2021
  2. Joseph F. Dimaria2021
  3. Carmine Rossetti2021

Chief operating officer

  1. Jon Yoder2015–2022
  2. Gabriella Skirnick2023
20202025
Board members and other officers (33)

Former names

  • Goldman Sachs Liberty Harbor Capital, LLCMar 29, 2013 to Mar 29, 20134

Timeline

  1. Oct 5, 20268-K Regulation FD disclosure51
  2. Aug 7, 20268-K Results of operations; Regulation FD disclosure52
  3. Jul 7, 20268-K Regulation FD disclosure53
  4. May 28, 20268-K Shareholder vote54
  5. May 8, 20268-K Results of operations; Regulation FD disclosure55
  6. Apr 14, 20268-K Regulation FD disclosure56
  7. Mar 17, 20268-K Executive or director change57
  8. Mar 2, 20268-K Executive or director change58
  9. Feb 27, 20268-K Results of operations; Regulation FD disclosure59
  10. Feb 2, 20268-K Entered a material agreement; New debt or obligation60
  11. Jan 29, 20268-K Regulation FD disclosure61
  12. Jan 26, 20268-K Entered a material agreement62
  13. Sep 15, 2025New chief executive Vivek Bantwal becomes CEO12
  14. Sep 26, 2012Founded Goldman Sachs BDC, Inc. is founded2

Calendar

Coming up

  1. Nov 5, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $0.40 a share, on Nov 6, 2025.63

When it reported results

  1. Aug 7, 2026Reported quarterly or annual results52
  2. May 8, 2026Reported quarterly or annual results55
  3. Feb 27, 2026Reported quarterly or annual results59
  4. Nov 6, 2025Reported quarterly or annual results64
  5. Aug 7, 2025Reported quarterly or annual results65
  6. May 8, 2025Reported quarterly or annual results66
  7. Feb 27, 2025Reported quarterly or annual results67
  8. Nov 7, 2024Reported quarterly or annual results68

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

202 filings to the SEC since October 2021: 5 annual reports, 16 quarterly reports, 74 major events, 30 insider forms, 3 large holders, 74 other. The latest 20:

  1. Oct 5, 20268-K EDGAR
  2. Sep 30, 2026424B2 EDGAR
  3. Sep 30, 2026424B2 EDGAR
  4. Sep 30, 2026424B2 EDGAR
  5. Sep 29, 2026N-2ASR EDGAR
  6. Aug 7, 20268-K EDGAR
  7. Aug 6, 202610-Q EDGAR
  8. Jul 7, 20268-K EDGAR
  9. Jun 11, 20264 EDGAR
  10. May 28, 20268-K EDGAR
  11. May 8, 20268-K EDGAR
  12. May 7, 202610-Q EDGAR
  13. Apr 14, 20268-K EDGAR
  14. Apr 6, 20264 EDGAR
  15. Apr 6, 2026DEFA14A EDGAR
  16. Apr 2, 2026DEFA14A EDGAR
  17. Apr 1, 2026DEF 14A EDGAR
  18. Mar 31, 20264 EDGAR
  19. Mar 17, 20268-K EDGAR
  20. Mar 2, 20268-K EDGAR

The 202 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

6 open-market trades by officers, directors and large owners since October 2021: 5 buys and 1 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 10, 2026Leach Timothy JDirectorBuy2,004$9.04$18.1KForm 4
Apr 2, 2026Evans Carlos EDirectorBuy50,000$9.02$451.0KForm 4
Nov 12, 2025Greene TuckerSee RemarksBuy10,500$9.86$103.5KForm 4
Sep 12, 2025Bantwal VivekCo-Chief Executive OfficerBuy22,000$11.36$249.9KForm 4
Nov 22, 2024Lanza JohnSee RemarksSale1,250$12.85$16.1KForm 4
May 8, 2023Miller DavidSee Remarks.Buy20,000$13.16$263.2KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Goldman Sachs Group Inc6,535,509$62.0M0.0%No change
Private Management Group Inc5,178,638$49.1M1.3%+175,284
Morgan Stanley4,713,836$44.7M0.0%+1,083,863
Generali Asset Management SPA SGR3,294,022$31.2M0.6%No change
Ares Management LLC3,147,251$29.8M1.4%+976,078
Van Eck Associates Corp2,676,020$25.4M0.0%+607,997
UBS Group AG2,577,113$24.4M0.0%+49,217
Lunate Capital Ltd2,192,392$20.8M10.6%New
Invesco Ltd.1,689,253$16.0M0.0%+42,317
Lalia Capital, LLC1,193,406$11.3M5.5%New
Bank Of America Corp /de/1,147,167$10.9M0.0%+149,597
Legal & General Group Plc939,770$8.9M0.0%+57,072
Muzinich & Co., Inc.853,942$8.1M2.8%+52,409
Raymond James Financial Inc706,549$6.7M0.0%+12,742
Sumitomo Mitsui Trust Group, Inc.701,783$6.7M0.0%+5,000
Cetera Investment Advisers696,308$6.6M0.0%+610,891
Envestnet Asset Management Inc624,970$5.9M0.0%New
Columbus Macro, LLC619,851$5.9M0.6%New
Union Bancaire Privee, UBP SA3,713$5.7M0.1%No change
Osaic Holdings, Inc.561,573$5.3M0.0%+311,348
Coppell Advisory Solutions LLC446$5.1M0.4%New
American Financial Group Inc506,562$4.8M1.7%No change
Victory Capital Management Inc497,443$4.7M0.0%+227,469
BlackRock, Inc.432,573$4.1M0.0%−10,298
Transcend Capital Advisors, LLC356,959$3.4M0.2%−36,209

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Goldman Sachs BDC, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARGoldman Sachs BDC, Inc.1
  • CIK0001572694
  • Employer ID (EIN)46-217659311
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company11
  • Incorporated inDelaware11
  • Fiscal year endsDecember 311
  • Business address200 West Street, Att: Private Credit Group, New York, NY 102821
  • Phone1-212-902-03281
  • Shares outstanding112,569,067 as of Aug 5, 202610
  • Public float$1.2B as of Jun 30, 202511
  • AuditorPricewaterhouseCoopers LLP, Boston, Massachusetts PCAOB ID 238; it also attests to the company’s internal control over financial reporting11
  • On EDGAR sinceMar 29, 20131
  • Filings641 in all: 8-K (181), 4 (103), 3 (42), 497AD (36), 10-Q (35), CORRESP (30), DEFA14A (28), 425 (24)1
    All 40 form types

    424B2 (19), N-2/A (17), 40-17G (15), 40-APP/A (13), DEF 14A (13), 10-K (11), 497 (8), EFFECT (6), N-2 (6), SC 13G/A (6), 40-17F2 (5), FWP (5), POS EX (5), 40-APP (4), APP NTC (4), APP ORDR (4), PRE 14A (3), 4/A (2), N-2ASR (2), POS 8C (2), 10-K/A (1), 10-Q/A (1), 5 (1), 8-A12B (1), 8-A12B/A (1), D (1), N-14 8C (1), N-14 8C/A (1), N-2MEF (1), N-54A (1), RW (1), SC 13G (1)

  • Latest filingsAnnual report (10-K) Feb 26, 2026
    Quarterly report (10-Q) Aug 6, 2026
    Proxy statement (DEF 14A) Apr 1, 2026
    Latest 8-K (8-K) Oct 5, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par valueGSBDThe New York Stock Exchange

From the cover page of the 10-K filed Feb 26, 2026 (Section 12(b) of the Exchange Act).11

Risk factors and legal proceedings

The risks Goldman Sachs BDC, Inc. names in Item 1A of its 10-K filed Feb 26, 2026: 73 risks under these headings, as written.11

  • Risks Relating to Market Developments and General Business Environment
  • The capital markets may experience periods of disruption and instability. Such market conditions may have materially and adversely affected debt and equity capital markets, which may have a negative impact on our business and operations.
  • Political, social and economic uncertainties may create and exacerbate risks.
  • Risks Relating to Legal and Regulatory Matters
  • Our operation as a BDC imposes numerous constraints on us and significantly reduces our operating flexibility. In addition, if we fail to maintain our status as a BDC, we might be regulated as a registered closed-end investment company, which would subject us to additional regulatory restrictions.
  • We will be subject to U.S. federal income tax at corporate rates (and any applicable U.S. state and local taxes) on all of our income if we are unable to maintain our qualification for tax treatment as a RIC, which would have a material adverse effect on our financial performance.
  • Regulations governing our operations as a BDC affect our ability to, and the way in which we, raise additional capital. These constraints may hinder our Investment Adviser’s ability to take advantage of attractive investment opportunities and to achieve our investment objective.
  • We incur significant costs as a result of being subject to the reporting requirements under the Exchange Act.
  • Efforts to comply with Section 404 of the Sarbanes-Oxley Act involve significant expenditures, and noncompliance with Section 404 of the Sarbanes-Oxley Act may adversely affect us and the market price of our securities.
  • Changes in laws or regulations governing our operations or the operations of our portfolio companies, changes in the interpretation thereof or newly enacted laws or regulations, or any failure by us or our portfolio companies to comply with these laws or regulations, could require changes to certain of our or our portfolio companies’ business practices, negatively impact our or our portfolio companies’ operations, cash flows or financial condition, impose additional costs on us or our portfolio companies or otherwise adversely affect our business or the business of our portfolio companies.
  • We cannot predict how new tax legislation will affect us, our investments, or our stockholders, and any such legislation could adversely affect our business.
  • Our ability to enter into transactions with our affiliates is restricted.
The other 63 risks
  • Our activities may be limited as a result of potentially being deemed to be controlled by GS Group Inc., a bank holding company.
  • CFTC rules may have a negative impact on us and our Investment Adviser.
  • Our ability to enter into transactions involving derivatives and financial commitment transactions may be limited.
  • Certain investors are limited in their ability to make significant investments in us.
  • Risks Relating to Competition
  • We depend upon management personnel of our Investment Adviser for our future success.
  • We operate in a highly competitive market for investment opportunities.
  • Risks Relating to Our Operations
  • We are dependent on information systems, and systems failures or cybersecurity incidents, as well as operating failures, could significantly disrupt our business, which may, in turn, negatively affect our liquidity, financial condition or results of operations.
  • Cybersecurity risks and cyber incidents may adversely affect our business or the business of our portfolio companies by causing a disruption to our operations or the operations of our portfolio companies, a compromise or corruption of our confidential information or the confidential information of our portfolio companies and/or damage to our business relationships or the business relationships of our portfolio companies, all of which could negatively impact the business, financial condition and operating results of us or our portfolio companies.
  • We are subject to risks associated with artificial intelligence and machine learning technology.
  • Risks Relating to Our Business and Structure
  • Our Investment Adviser, its principals, investment professionals and employees and the members of its Private Credit Investment Committee may have certain conflicts of interest.
  • Subject to applicable law, we may invest alongside Goldman Sachs and other Accounts.
  • Goldman Sachs’ financial and other interests may incentivize our Investment Adviser to favor other Accounts.
  • Our financial condition and results of operations depend on our Investment Adviser’s ability to manage our future growth effectively.
  • Our ability to grow depends on our access to adequate capital.
  • We borrow money, which may magnify the potential for gain or loss and may increase the risk of investing in us.
  • Our Investment Adviser will be paid the Management Fee even if the value of an investment in the Company declines and our Investment Adviser’s Incentive Fee may create incentives for it to make certain kinds of investments.
  • The Incentive Fee based on income takes into account our past performance.
  • Potential conflicts of interest with other businesses of Goldman Sachs could impact our investment returns.
  • Goldman Sachs has influence, and may continue to exert influence, over our management and affairs and over most votes requiring stockholder approval.
  • Our Board of Directors may change our investment objective, operating policies and strategies without prior notice or stockholder approval.
  • Our Investment Adviser can resign on 60 days’ notice. We may not be able to find a suitable replacement within that time, resulting in a disruption in our operations that could adversely affect our financial condition, business and results of operations.
  • Our Investment Adviser’s responsibilities and its liability to us are limited under the Investment Management Agreement, which may lead our Investment Adviser to act in a riskier manner on our behalf than it would when acting for its own account.
  • We may experience fluctuations in our quarterly results.
  • We are subject to risks related to corporate social responsibility.
  • The effect of global climate change may impact the operations of our portfolio companies.
  • Risks Relating to Our Investments
  • Our investments are very risky and highly speculative.
  • Unsecured Debt, Including Mezzanine Debt.
  • Investing in middle-market companies involves a number of significant risks.
  • We have exposure to credit risk and other risks related to credit investments.
  • Changes in inflation may adversely affect the business, results of operations and financial condition of our portfolio companies.
  • We are exposed to risks associated with changes in interest rates.
  • Many of our portfolio securities do not have a readily available market price, and we value these securities at fair value as determined in good faith in accordance with the Investment Company Act, which valuation is inherently subjective and may not reflect what we may actually realize for the sale of the investment.
  • The lack of liquidity in our investments may adversely affect our business.
  • Our portfolio may be focused in a limited number of portfolio companies, which will subject us to a risk of significant loss if any of these companies default on their obligations under any of its debt instruments or if there is a downturn in a particular industry.
  • We may not be in a position to exercise control over our portfolio companies or to prevent decisions by management of our portfolio companies that could decrease the value of our investments.
  • We may be subject to risks associated with subordinated debt.
  • We may be subject to risks associated with unsecured debt.
  • We may be subject to risks arising from revolving credit facilities.
  • We may be subject to risks arising from purchases of secondary debt.
  • We may be subject to risks arising from assignments and participations.
  • We may have difficulty sourcing investment opportunities.
  • Our failure or inability to make follow-on investments in our portfolio companies could impair the value of our portfolio.
  • We may elect not to, or be unable to, make follow-on investments or may lack sufficient funds to make those investments.
  • Our portfolio companies may prepay loans, which may reduce stated yields in the future if the capital returned cannot be invested in transactions with equal or greater expected yields.
  • Investments in common and preferred equity securities, many of which are illiquid with no readily available market, involve a substantial degree of risk.
  • By originating loans to companies that are experiencing significant financial or business difficulties, we may be exposed to distressed lending risks.
  • We may be exposed to special risks associated with bankruptcy cases.
  • We may be subject to risks related to exit financings.
  • Declines in market prices and liquidity in the corporate debt markets can result in significant net unrealized depreciation of our portfolio, which in turn would affect our results of operations.
  • Economic recessions or downturns could impair our portfolio companies and harm our operating results.
  • Our portfolio companies may have incurred or issued, or may in the future incur or issue, debt or equity securities that rank equally with, or senior to, our investments in such companies, which could have an adverse effect on us in any liquidation of the portfolio company.
  • Our portfolio companies may be highly leveraged.
  • Our investments in non-U.S. companies may involve significant risks in addition to the risks inherent in U.S. investments.
  • We may expose ourselves to risks if we engage in hedging transactions.
  • We may form one or more CLOs, which may subject us to certain structured financing risks.
  • Risks Relating to Our Securities
  • The market price of our securities may fluctuate significantly.
  • Shares of closed-end investment companies, including BDCs, frequently trade at a discount to their NAV per share.
  • Sales of substantial amounts of our common stock in the public market may have a material adverse effect on the market price of our common stock.
  • Our stockholders will experience dilution in their ownership percentage if they opt out of our DRIP.
  • Our stockholders that do not opt out of our DRIP should generally expect to have current tax liabilities without receiving cash to pay such liabilities.
  • We may in the future determine to issue preferred stock, which could adversely affect the market value of our common stock.
  • Certain provisions of our certificate of incorporation and bylaws and the DGCL, as well as other aspects of our structure, including the substantial ownership interest of GS Group Inc., could deter takeover attempts and have an adverse impact on the price of our common stock.
  • We may not be able to pay distributions to holders of our common stock or preferred stock, our distributions to holders of our common stock or preferred stock may not grow over time, and a portion of our distributions to holders of our common stock or preferred stock may be a return of capital for U.S. federal income tax purposes.

Legal proceedings

From time to time, we may be a party to certain legal proceedings, including proceedings relating to the enforcement of our rights under loans to or other contracts with our portfolio companies. We are not currently subject to any material legal proceedings, nor, to our knowledge, is any material legal proceeding threatened against us.

The opening of Item 3, Legal Proceedings.11

Sources

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