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G•••• C•••••• B••• I•••
A business development company traded as GBDC, managed by G• A••••••• L••, holding $8.1B across 421 borrowers at Jun 30, 2026.
Composed from this BDC's filings and its latest schedule of investments.
As of · the latest schedule of investments read for this BDC
- Fair value
- $8.1B
- Borrowers
- 421
- Mark on cost
- 98.2¢
- First lien
- 93%
As of · the latest schedule of investments read for this BDC
What matters now
- $221Mon non-accrual, 13 borrowers
13 borrowers on non-accrual, $221M principal; the largest is M••• H•••••••• I•• ($57.4M).
Q2 2026 · Loans that have stopped paying interest; they set the book's credit losses.
FactBDC schedules of investments, 30 Jun 2026For LPs and shareholders in these BDCs, co-lenders on the same namesOpen M••• H•••••••• I•• → - $12.9Mnewly on non-accrual
2 borrowers newly placed on non-accrual in Q2 2026, $12.9M principal: W••••••••• L•• ($12M), W••••• I•• ($949K).
Q2 2026 · The newest credit problems in the book.
- 34 below 80¢$159M principal
34 positions across 23 borrowers marked below 80¢ on cost, $159M principal.
Q2 2026 · Marks this low usually come before non-accrual or a restructuring.
Derivedeach position's fair value over cost, 30 Jun 2026 - 247 → 281loans paying in kind
Loans paying in kind rose from 247 to 281 positions in the quarter to Jun 30, 2026.
Q2 2026 · Borrowers paying interest in more debt rather than cash is an early sign of strain.
Every headline figure, and the identifiersCIK 1476765 · file 814-00794ShowHide
Fair value
$8.1B
as of Jun 30, 2026
Principal held
$7.8B
debt pieces, the filer's figure
Cost
$8.3B
98c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
1,812
421 borrowers
First lien
93%
94% debt by fair value
Quarters on the tape
18
since Sep 30, 2020
Facilities held
606
65 sponsors financed
Portfolio through time
Fair value by quarter end$8.4B as of Jun 30, 2026
Sep 30, 2020$60.7M then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $8.4B | 421 | 98c | 281 | 531 bp |
| Mar 31, 2026 | $8.5B | 417 | 98c | 247 | 530 bp |
| Dec 31, 2025 | $8.8B | 418 | 100c | 237 | 534 bp |
| Sep 30, 2025 | $18B | 414 | 100c | 482 | 542 bp |
All 18 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $9.2B | 402 | 100c | 209 | 548 bp |
| Mar 31, 2025 | $8.9B | 394 | 99c | 196 | 559 bp |
| Dec 31, 2024 | $8.9B | 386 | 99c | 201 | 567 bp |
| Sep 30, 2024 | $8.6B | 384 | 99c | 210 | 577 bp |
| Jun 30, 2024 | $8.1B | 381 | 98c | 173 | 585 bp |
| Mar 31, 2024 | $5.5B | 367 | 98c | 172 | 603 bp |
| Dec 31, 2023 | $5.5B | 358 | 98c | 180 | 613 bp |
| Sep 30, 2023 | $5.6B | 344 | 98c | 165 | 612 bp |
| Jun 30, 2023 | $5.6B | 334 | 98c | 152 | 610 bp |
| Mar 31, 2023 | $5.5B | 334 | 97c | 166 | 611 bp |
| Dec 31, 2022 | $5.5B | 335 | 97c | 143 | 611 bp |
| Sep 30, 2022 | $6.1B | 335 | 96c | 119 | 593 bp |
| Sep 30, 2021 | $5.0B | 298 | 99c | 98 | 578 bp |
| Sep 30, 2020 | $60.7M | 10 | n/a | 0 | n/a |
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- Placed on non-accrualJun 30, 2026
- Placed on non-accrualJun 30, 2026
- New lender joined a facilityJun 30, 2026
Full timeline · 20 eventsShow fewer
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest increasedJun 30, 2026
- PIK interest increasedJun 30, 2026
- PIK interest increasedJun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest increasedJun 30, 2026
Largest facilities held, with co-lenders
- B••••••• I••••••••• •• L•• first lien term loan7 BDCs hold it · matures Oct 1, 2028$127M 99c
- G• A••••••••• I•• first lien term loan26 BDCs hold it · matures May 25, 2028 · possible sponsor G•••••• C••••••$121M 94c
- T••• H•••••••• L•• first lien term loan5 BDCs hold it · matures Dec 1, 2029$111M 100c
- P•• N• S• B•••• B•• first lien term loan2 BDCs hold it · matures Sep 1, 2028$97.7M 98c
- L••••••• I•• first lien term loan2 BDCs hold it · matures May 1, 2027$94.0M 100c
- A••••••• P•••••• I•• first lien term loan1 BDC hold it$86.6M 101c
- P••••• H••••• I••••••••• H•••••••• I•• first lien term loan14 BDCs hold it · matures Jun 3, 2030$85.7M 100c
- P•••••• G••••• I•••••••• S•••••••• L•• first lien term loan14 BDCs hold it · matures Oct 31, 2028 · possible sponsor G• P•••••••$84.6M 100c
- B•••••••• I•• first lien term loan15 BDCs hold it · matures Oct 1, 2029 · possible sponsor G•••••• C••••••$84.2M 97c
- B••• R•••• P•• C•••• L•• first lien term loan11 BDCs hold it · matures Aug 1, 2029$83.7M 100c
- P••••• C••••••••• first lien term loan5 BDCs hold it · matures Feb 1, 2031$82.9M 96c
- C••• H•••••••• L•• first lien term loan5 BDCs hold it · matures Dec 1, 2028$82.6M 103c
Schedule of investments at Mar 31, 2023
1,401 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| N•••••• C••••••••• | equity equity | Not disclosed | $21,000 117c | ||
| C••••• S•••••••• A••••••••• I••• | term loan first lien | $21,000 | $21,000 100c | S+550 bp | May 1, 2028 |
| R••• S•••••• C••• L•• | term loan first lien | $21,000 | $21,000 100c | S+750 bp | Jun 1, 2024 |
| R•• D••• S•• B••••• I••• | equity equity | Not disclosed | $20,000 154c | ||
| T•••••• P•••••• I••• | equity equity | Not disclosed | $19,000 48c | ||
| N•• B•••• G••• | term loan first lien | $20,000 | $19,000 95c | S+600 bp | Jan 1, 2028 |
| E•••• S••••••••• L••• | term loan first lien | $21,000 | $19,000 90c | S+700 bp PIK 0.75% | Sep 1, 2025 |
| R•••• B•••• C•••••• • A••••• S••••••• I••• | term loan first lien | $20,000 | $19,000 95c | S+625 bp | May 1, 2027 |
| H••••• B••••• L•• | term loan first lien | $20,000 | $19,000 95c | S+525 bp | Apr 1, 2028 |
| B••• H•••••• C••••••• I••• | term loan first lien | $27,000 | $18,000 75c | S+525 bp | Nov 1, 2027 |
| O••••••• I•••• V•••••• F•••• G••• a•• O•••••• G••• | warrants equity | Not disclosed | $18,000 200c | ||
| C•••••• I••••••••• 3• L•• | term loan first lien | $18,000 | $17,000 94c | S+475 bp | Jan 1, 2028 |
| N•• L••• ••••••••• C••••••••• a•• N•• A••••••••• I••• | term loan first lien | $18,000 | $17,000 94c | S+550 bp | May 1, 2028 |
| I••••••• O•••••• M•••• I••• | preferred equity equity | Not disclosed | $17,000 14c | ||
| A••••••• P••• M••••••••• H•••••••• I••• | term loan first lien | $1.1M | $17,000 5c | S+375 bp | Jul 1, 2021 |
| N•• P•••••• L•• | equity equity | Not disclosed | $16,000 6c | ||
| E•••••••• G•••• L•• | equity equity | Not disclosed | $16,000 107c | ||
| A•••• M••••• S•• I••• | term loan first lien | $15,000 | $15,000 107c | S+525 bp | Apr 1, 2026 |
| V••••••• I••• | term loan first lien | $18,000 | $14,000 78c | S+475 bp | Apr 1, 2028 |
| E•• G••••• P••••••• L•• | term loan first lien | $13,000 | $13,000 100c | S+600 bp | Mar 1, 2026 |
| A••••••• P••• M••••••••• H•••••••• I••• | term loan first lien | $836,000 | $13,000 3c | S+375 bp | Jul 1, 2021 |
| D•• I••••••••• H••••••• L•• | equity equity | Not disclosed | $12,000 200c | ||
| D•••• A••••••••• C••••••••• | term loan first lien | $18,000 | $12,000 71c | S+450 bp | Oct 1, 2027 |
| M••••••••• L•• | term loan first lien | $13,000 | $12,000 100c | S+500 bp | Nov 1, 2027 |
| A••• G••••• C•• H••••••• C•••• | term loan first lien | $12,000 | $12,000 100c | S+475 bp | Apr 1, 2025 |
| L•••••••• F••• F•• P•••••••• L••• | preferred equity equity | Not disclosed | $12,000 92c | ||
| T•••• T••••••••• I••• | preferred equity equity | Not disclosed | $11,000 138c | ||
| T••••••• S••••••• C••• H•••••••• L•• | term loan first lien | $10,000 | $10,000 111c | S+500 bp | Sep 1, 2026 |
| E•••••••• G•••• L•• | term loan first lien | $10,000 | $10,000 100c | S+675 bp | Nov 1, 2024 |
| D•••• | term loan first lien | $10,000 | $10,000 111c | S+600 bp | Jul 1, 2027 |
| R•• D••• S•• B••••• I••• | term loan first lien | $13,000 | $10,000 77c | S+425 bp | Nov 1, 2025 |
| S••• H•••••••• L•• | term loan first lien | $10,000 | $9,000 90c | S+475 bp | Nov 1, 2025 |
| E•••••••• G•••• L•• | equity equity | Not disclosed | $9,000 82c | ||
| E•••••••• S••••••• H••••••• C••••••••• | term loan first lien | $10,000 | $9,000 100c | S+575 bp | Nov 1, 2025 |
| A•••••• T••••••••• L•• | term loan first lien | $14,000 | $9,000 75c | S+550 bp | Mar 1, 2027 |
| T••••••• H••••••• L•• | term loan first lien | $9,000 | $8,000 100c | S+575 bp | Dec 1, 2025 |
| E•• G••••• P••••••• L•• | unstated lien unstated | Not disclosed | $8,000 67c | ||
| I••••••• O•••••• M•••• I••• | equity equity | Not disclosed | $8,000 | ||
| C••••••• M•••• L•••••• | term loan first lien | $7,000 | $7,000 100c | S+625 bp | May 1, 2028 |
| U••••••• B•••• G•••• M•••• L•• | term loan first lien | $8,000 | $7,000 -41c | S+650 bp | Aug 1, 2027 |
| W•• H•••••• C•••• | term loan first lien | $6,000 | $6,000 100c | S+500 bp | Jan 1, 2025 |
| T••••••• H••••••• L•• | equity equity | Not disclosed | $6,000 100c | ||
| V••••• M•••• H•••••••• L•• | term loan first lien | $6,000 | $6,000 100c | S+350 bp | Oct 1, 2026 |
| O•••• I••• | warrants equity | Not disclosed | $6,000 100c | ||
| I••••••• O•••••• M•••• I••• | preferred equity equity | Not disclosed | $6,000 13c | ||
| A••• B••••• I••• | term loan first lien | $5,000 | $5,000 100c | S+525 bp | Jul 1, 2027 |
| S••••••• B•••••• L•• | term loan first lien | $6,000 | $5,000 100c | S+650 bp | Jul 1, 2028 |
| B••••••• R••• H•••••••• L•• | equity equity | Not disclosed | $5,000 100c | ||
| W•••••••• E••••••• L•• | term loan first lien | $4,000 | $4,000 100c | S+525 bp | Apr 1, 2027 |
| W•• I••••••••• L•• | unstated lien unstated | Not disclosed | $4,000 200c | ||
| P••• A••••••••• C•••• | equity equity | Not disclosed | $4,000 1c | ||
| C•• H•••••• C•••••• | term loan first lien | $5,000 | $4,000 100c | S+675 bp | Nov 1, 2028 |
| E••••••• G••••• L•• | term loan first lien | $4,000 | $4,000 100c | S+550 bp | Apr 1, 2028 |
| A•••• B•••••• C••• L••••• | warrants equity | Not disclosed | $2,000 | ||
| G••••••• P••• C••••••••• L•• | term loan first lien | $2,000 | $2,000 100c | S+550 bp | Nov 1, 2023 |
| B••••••• R••• H•••••••• L•• | preferred equity equity | Not disclosed | $2,000 100c | ||
| G••••••• P••• C••••••••• L•• | equity equity | Not disclosed | $1,000 | ||
| B••••••• R••• H•••••••• L•• | equity equity | Not disclosed | $1,000 50c | ||
| A••••• E•••••• H•••••••• L•• | term loan first lien | $1,000 | $1,000 100c | S+625 bp | Mar 1, 2025 |
| B•••••••• B•••• L•••••• | term loan first lien | $0 | $0 0c | S+595 bp | Aug 1, 2028 |
| R••• S•••••• C••• L•• | term loan first lien | $0 | $0 | S+750 bp | Jun 1, 2024 |
| H•••• U• L•• | term loan first lien | $0 | $0 | S+1050 bp | Aug 1, 2026 |
| E••••• G• A••••••••• L•• | equity equity | Not disclosed | $0 0c | ||
| M•••••• | term loan first lien | $0 | $0 0c | S+725 bp | Sep 1, 2026 |
| C••••• B•••• S••• I••• | equity equity | Not disclosed | $0 0c | ||
| R•••••• R••••••••• I••• | equity equity | Not disclosed | $0 0c | ||
| R•••••• R••••••••• I••• | equity equity | Not disclosed | $0 | ||
| L••••• B•••• L•• | term loan first lien | $0 | $0 | S+550 bp | May 1, 2025 |
| T•••• B•••• B••• | term loan first lien | $0 | $0 0c | S+600 bp | Oct 1, 2027 |
| T••••••• A•• a•• T•••••••• L•• | term loan first lien | $0 | $0 | S+650 bp | Jul 1, 2028 |
| O••••• S••••• D••••••••• H•••••••• L•• | unstated lien unstated | Not disclosed | $0 0c | ||
| S••• D••••• M••••••••• L•• | equity equity | Not disclosed | $0 0c | ||
| S•• H•••••• I• C••••••••• | term loan first lien | $0 | $0 | S+523 bp | Apr 1, 2024 |
| E•••• D••••• P••••••• L•• | unstated lien unstated | Not disclosed | $0 0c | ||
| P•••••• A••••••••• I••• | term loan first lien | $0 | $0 0c | S+500 bp | Dec 1, 2028 |
| P••••••••• I••• | term loan first lien | $0 | $0 | S+525 bp | Sep 1, 2024 |
| R•••••• R••••••••• I••• | equity equity | Not disclosed | $0 | ||
| M••••••••• L•• | equity equity | Not disclosed | $0 | ||
| E••••• I••••••••• I••• | equity equity | Not disclosed | $0 0c | ||
| S••• E•••••• S••••••• L•• | term loan first lien | $0 | $0 0c | S+450 bp | Jun 1, 2027 |
| E•••••• S••••••• P••••••• H••••••• L•• | equity equity | Not disclosed | $0 0c | ||
| T••••••• A•• a•• T•••••••• L•• | term loan first lien | $0 | $0 0c | S+650 bp | Jul 1, 2028 |
| I••••••• P••••• I••• | equity equity | Not disclosed | $0 | ||
| A••••• D••• I••• | term loan first lien | $0 | $0 | S+575 bp | Feb 1, 2025 |
| T••••••••• H•••••••• L•• | term loan first lien | $0 | $0 0c | S+625 bp | Mar 1, 2025 |
| D••••••• H•••• C••••••• L•• | term loan first lien | $0 | $0 | S+525 bp | Jul 1, 2024 |
| I••••• B•••• A• | term loan first lien | $0 | $0 | S+650 bp | Jul 1, 2028 |
| E•• V•••••• H•••••••• L•• | term loan first lien | $0 | $0 0c | S+650 bp | Oct 1, 2028 |
| R••••••••• H•••••••• L•• | term loan first lien | $0 | $0 0c | S+1075 bp | Oct 1, 2026 |
| E•••• D••••• P••••••• L•• | equity equity | Not disclosed | $0 | ||
| R•••••• R••••••••• I••• | equity equity | Not disclosed | $0 | ||
| F••••••• F••••• C•••••• L•• | term loan first lien | $0 | $0 | S+500 bp | Mar 1, 2027 |
| I•••••••• M•••••••• A••••••••• L•• | term loan first lien | $0 | $0 | S+650 bp | Aug 1, 2025 |
| C•••••••• C••• P•••••••• L•• | term loan first lien | $0 | $0 0c | S+600 bp | Jun 1, 2026 |
| C•• H••••••• A••••••••• I••• | term loan first lien | $0 | $0 | S+450 bp | Jul 1, 2027 |
| D•••••• M••• C••••••• I••• | term loan first lien | $0 | $0 0c | S+600 bp | Mar 1, 2028 |
| E•• G••••• P••••••• L•• | term loan first lien | $0 | $0 | S+600 bp | Mar 1, 2026 |
| R•••••• R••••••••• I••• | equity equity | Not disclosed | $0 | ||
| E•••••• S••••••• P••••••• H••••••• L•• | equity equity | Not disclosed | $0 0c | ||
| Z••••••• I•• | term loan first lien | $0 | $0 0c | S+650 bp | Nov 1, 2028 |
Registration
- Fiscal year end
- 0930reported
- Incorporated
- DEreported
- On the SEC BDC report
- 2012 to 2026reported
- Filings listed
- 19reported10-Q and 10-K since 2022
- Former names
- G•••• CAPITAL INVESTMENT Corp; G•••• C•••••• B•• LLCreported
- Latest schedule
- 0001476765-26-000048reported
Capital chain
G•••• C•••••• B••• I••• sits on 202 traced paths of capital across the graphs.
PE sponsor to borrower to facility to lenderSponsor to borrower to facility to lender
Every record on each path, what it committed or lent, and as of when. The capital chain is a join across the graphs and opens with the Data Factory.
Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.
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