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G•••••• S•••• B••• I•••
A business development company traded as GSBD, managed by G•••••• S•••• A•••• M••••••••• L••, holding $3.2B across 180 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
- $3.2B
- Borrowers
- 180
- Mark on cost
- 95.1¢
- First lien
- 97%
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
As of · the latest schedule of investments read for this BDC
What matters now
- $200Mon non-accrual, 8 borrowers
8 borrowers on non-accrual, $200M principal; the largest is O•• G• L•• ($52.6M).
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 O•• G• L•• → - $18.6Mnewly on non-accrual
1 borrower newly placed on non-accrual in Q2 2026, $18.6M principal: W•••••••• L•• ($18.6M).
Q2 2026 · The newest credit problems in the book.
- 28 below 80¢$277M principal
28 positions across 15 borrowers marked below 80¢ on cost, $277M principal.
Q2 2026 · Marks this low usually come before non-accrual or a restructuring.
Derivedeach position's fair value over cost, 30 Jun 2026 - 96.4¢ → 95.1¢book mark on cost
Marked its book down from 96.4¢ to 95.1¢ on the dollar in the quarter to Jun 30, 2026.
Q2 2026 · The whole portfolio was marked down; net asset value follows.
Every headline figure, and the identifiersCIK 1572694 · file 814-00998ShowHide
Fair value
$3.2B
as of Jun 30, 2026
Principal held
$3.9B
debt pieces, the filer's figure
Cost
$3.4B
95c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
560
180 borrowers
First lien
97%
99% debt by fair value
Quarters on the tape
16
since Dec 31, 2021
Facilities held
202
56 sponsors financed
Portfolio through time
Fair value by quarter end$3.2B as of Jun 30, 2026
Dec 31, 2021$154M then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $3.2B | 180 | 95c | 65 | 545 bp |
| Mar 31, 2026 | $3.2B | 180 | 96c | 71 | 545 bp |
| Dec 31, 2025 | $3.3B | 181 | 97c | 79 | 547 bp |
| Sep 30, 2025 | $3.2B | 181 | 98c | 58 | 557 bp |
All 16 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $3.3B | 174 | 99c | 57 | 576 bp |
| Mar 31, 2025 | $21B | 171 | 96c | 69 | 587 bp |
| Dec 31, 2024 | $21B | 174 | 95c | 68 | 603 bp |
| Sep 30, 2024 | $21B | 178 | 96c | 56 | 608 bp |
| Jun 30, 2024 | $18B | 166 | 95c | 47 | 628 bp |
| Mar 31, 2024 | $21B | 157 | 97c | 54 | 643 bp |
| Dec 31, 2023 | $28B | 154 | 97c | 109 | 650 bp |
| Sep 30, 2023 | $10B | 147 | 97c | 43 | 657 bp |
| Jun 30, 2023 | $128M | 145 | n/a | 37 | 651 bp |
| Mar 31, 2023 | $122M | 142 | n/a | 35 | 653 bp |
| Dec 31, 2022 | $11B | 145 | 97c | 53 | 654 bp |
| Dec 31, 2021 | $154M | 8 | n/a | 0 | n/a |
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
- Placed on non-accrualJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
Full timeline · 20 eventsShow fewer
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- PIK interest increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- PIK interest appearsJun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
Largest facilities held, with co-lenders
- N•••• S••• A••••••••• L•• first lien term loan7 BDCs hold it · matures May 29, 2030$128M 100c
- Z•••• H•••••• I•• first lien term loan10 BDCs hold it · matures Jul 1, 2027$89.0M 99c
- A• H••••• B••••• I•• first lien term loan2 BDCs hold it · matures Dec 31, 2026 · possible sponsor A••••••• M••••••••• H••••••• L•$78.6M 98c
- A•• H••••• B•• L•• first lien term loan7 BDCs hold it · matures Aug 31, 2032$75.0M 99c
- C••••••••• A•••••••• H•••••••• I•• first lien term loan16 BDCs hold it · matures Jun 27, 2033 · W•• M••••••••• C•••••••••$75.0M 100c
- S••••••• G•••• H•••••••• I•• first lien term loan8 BDCs hold it · matures Jul 2, 2029 · possible sponsor W•••••• P••••• L••$74.6M 99c
- P••••••••• H•••••••• I•• first lien term loan2 BDCs hold it · matures Dec 30, 2026 · possible sponsor V•••• E••••• P••••••• M••••••••• L••$66.4M 99c
- X••••• C••••••••• first lien term loan7 BDCs hold it · matures Jul 31, 2027$65.9M 91c
- D••••••• C••••••••• first lien term loan22 BDCs hold it · matures Aug 4, 2030 · possible sponsor L•• C•••••• M••••••••• L•••$65.1M 99c
- H••••• L•• first lien term loan3 BDCs hold it · matures Oct 23, 2027$62.1M 91c
- J•••••• R••••• C••••• B••••• I•• first lien term loan3 BDCs hold it · matures Jun 30, 2031$62.1M 96c
- H•••• H• B••••• I•• first lien term loan5 BDCs hold it · matures Oct 15, 2027$60.5M 100c
Schedule of investments at Jun 30, 2024
524 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| I••••••••• U•••••••• D••• • 0•••• W•••••••• I••• I••••••• B• B•••••••• | subordinated debt unsecured or subordinated | $10.8M | Not disclosed n/a | S+1500 bp PIK 15.00% | Apr 3, 2027 |
| K••• S•••• H••••••• L••••••••• C••••••••• & E••••••••• | equity equity | Not disclosed | Not disclosed | ||
| I••••••••• U•••••••• D••• • 0•••• W•••••••• I••• I••••••• B• B•••••••• | subordinated debt unsecured or subordinated | $14.4M | Not disclosed | S+1500 bp PIK 15.00% | Apr 3, 2027 |
| I••••••••• D••• I••••••••• • 2•••••• S•••••••• • 0•••• U•••• C••••••••• & E••••••••• | subordinated debt unsecured or subordinated | $1.3M | Not disclosed n/a | Jun 30, 2024 | |
| A•• N••••••• C••••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| S••••••• H•••••••• L•• ••• F••••••••• S•••••••) | term loan first lien | $122,000 | Not disclosed n/a | S+575 bp | Aug 31, 2026 |
| C•••••• A••• • M• P••• L••• C••••••••• & E••••••••• I•••••• | equity equity | Not disclosed | Not disclosed n/a | ||
| K••• H••••••• I••• ••• S•••••• H•••••••• B••••••• P••••••• I•••••• | warrants equity | Not disclosed | Not disclosed | ||
| I••••••••• S•••••••• • 0•••• | unstated lien unstated | Not disclosed | Not disclosed n/a | ||
| A• T•••• P•••••• I••• ••• P••••••••• S••••••• | term loan first lien | $896,000 | Not disclosed | S+475 bp | Jun 3, 2031 |
| C•••• I••••••••• I••• ••• S•••••• H•••••••• B••••••• P••••••• | term loan second lien | $15.5M | Not disclosed | S+1000 bp | May 11, 2026 |
| T••••• C••••••••• A••••••••• | term loan first lien | $24,000 | Not disclosed | S+675 bp | Dec 22, 2028 |
| B•••••••• I••• P••••••••• Services | term loan first lien | $1.3M | Not disclosed n/a | S+500 bp | Oct 1, 2029 |
| A••••••• B••••• I••• ••• A•••••• S••••••• | term loan first lien | $591,000 | Not disclosed | S+450 bp | Jul 26, 2030 |
| T•••• S•••••••• | equity equity | Not disclosed | Not disclosed n/a | ||
| K••• H••••••• I••• ••• S•••••• H•••••••• B••••••• P••••••• I•••••• | warrants equity | Not disclosed | Not disclosed | ||
| A•• B••••• I••• C••••••••• Services & S••••••• | term loan first lien | $541,000 | Not disclosed | S+600 bp | Jan 29, 2028 |
| I••••••••• U•••••••• D••• • 0•••• W•••••••• I••• I••••••• B• B•••••••• | subordinated debt unsecured or subordinated | $8.3M | Not disclosed n/a | S+1500 bp PIK 15.00% | Apr 3, 2027 |
| A• T•••• P•••••• I••• ••• P••••••••• S••••••• | term loan first lien | $1.4M | Not disclosed | S+475 bp | Jun 3, 2031 |
| S•••• M•••• L•• C••••••••• Services & S••••••• | term loan second lien | $16.4M | Not disclosed | Jun 30, 2027 | |
| K••• S•••• H••••••• L•••••• C••••••••• & E••••••••• I•••••• | preferred equity equity | Not disclosed | Not disclosed n/a | ||
| M••••••••• I••• H••••• C••• T••••••••• I•••••• | preferred equity equity | Not disclosed | Not disclosed | ||
| W•••••••• L•• B•••••••• I•••••• | preferred equity equity | Not disclosed | Not disclosed n/a | ||
| A•• B••••• I••• C••••••••• Services & S••••••• | term loan first lien | $4.2M | Not disclosed | S+600 bp | Jan 29, 2028 |
Page 6 of 6Previous
Registration
- Fiscal year end
- 1231reported
- Incorporated
- DEreported
- On the SEC BDC report
- 2013 to 2026reported
- Filings listed
- 19reported10-Q and 10-K since 2022
- Former names
- G•••••• S•••• Liberty Harbor Capital, LLCreported
- Latest schedule
- 0001193125-26-338331reported