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G•••••• S•••• B••• I•••

Business development companymanaged by G•••••• S•••• A•••• M••••••••• L••Listed: GSBD· NEW YORK, NY

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 2026-06-30 · 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 (560)Quarter by quarter Sponsors

As of 2026-06-30 · the latest schedule of investments read for this BDC

What matters now

$200M
on 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•• →
$18.6M
newly 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.
FactBDC schedules of investments, 30 Jun 2026Open W•••••••• L•• →
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.
Derivedthe schedule's fair value over cost, quarter on quarterQuarter by quarter →

Every headline figure, and the identifiersCIK 1572694 · file 814-00998Show

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

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 quarters

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
••• Locked
New borrower on a BDC scheduleJun 30, 2026
••• Locked
Marked down (one lender)Jun 30, 2026
••• Locked
Marked down (one lender)Jun 30, 2026
••• Locked
Marked down (one lender)Jun 30, 2026
••• Locked

Full timeline · 20 events

Marked down (one lender)Jun 30, 2026
••• Locked
Marked down (one lender)Jun 30, 2026
••• Locked
PIK interest increasedJun 30, 2026
••• Locked
Spread increasedJun 30, 2026
••• Locked
Spread increasedJun 30, 2026
••• Locked
Spread increasedJun 30, 2026
••• Locked
Spread increasedJun 30, 2026
••• Locked
Spread increasedJun 30, 2026
••• Locked
Spread increasedJun 30, 2026
••• Locked
PIK interest appearsJun 30, 2026
••• Locked
Maturity extended (observed)Jun 30, 2026
••• Locked
Maturity extended (observed)Jun 30, 2026
••• Locked
Maturity extended (observed)Jun 30, 2026
••• Locked
Maturity extended (observed)Jun 30, 2026
••• Locked
Maturity extended (observed)Jun 30, 2026
••• Locked

Every position change, including routine ones

Largest facilities held, with co-lenders

N•••• S••• A••••••••• L•• first lien term loan
7 BDCs hold it · matures May 29, 2030
$128M 100c
Z•••• H•••••• I•• first lien term loan
10 BDCs hold it · matures Jul 1, 2027
$89.0M 99c
A• H••••• B••••• I•• first lien term loan
2 BDCs hold it · matures Dec 31, 2026 · possible sponsor A••••••• M••••••••• H••••••• L•
$78.6M 98c
A•• H••••• B•• L•• first lien term loan
7 BDCs hold it · matures Aug 31, 2032
$75.0M 99c
C••••••••• A•••••••• H•••••••• I•• first lien term loan
16 BDCs hold it · matures Jun 27, 2033 · W•• M••••••••• C•••••••••
$75.0M 100c
S••••••• G•••• H•••••••• I•• first lien term loan
8 BDCs hold it · matures Jul 2, 2029 · possible sponsor W•••••• P••••• L••
$74.6M 99c
P••••••••• H•••••••• I•• first lien term loan
2 BDCs hold it · matures Dec 30, 2026 · possible sponsor V•••• E••••• P••••••• M••••••••• L••
$66.4M 99c
X••••• C••••••••• first lien term loan
7 BDCs hold it · matures Jul 31, 2027
$65.9M 91c
D••••••• C••••••••• first lien term loan
22 BDCs hold it · matures Aug 4, 2030 · possible sponsor L•• C•••••• M••••••••• L•••
$65.1M 99c
H••••• L•• first lien term loan
3 BDCs hold it · matures Oct 23, 2027
$62.1M 91c
J•••••• R••••• C••••• B••••• I•• first lien term loan
3 BDCs hold it · matures Jun 30, 2031
$62.1M 96c
H•••• H• B••••• I•• first lien term loan
5 BDCs hold it · matures Oct 15, 2027
$60.5M 100c

Schedule of investments at Jun 30, 2025

534 positions

Borrower	Instrument	Principal	Fair value	Rate	Maturity
B•••••• O•••• L•• ••• P•••••• H••••• C••• P•••••••• & Services	term loan first lien	$415,000	Not disclosed	SOFR+725 bp	May 31, 2026
G•••••• S•••• F•••••••• S••••• G••••••••• F•••	unstated lien unstated	Not disclosed	Not disclosed
A••••• S••••• H•••••••• L••	unstated lien unstated	Not disclosed	Not disclosed
Z••••••• U• B•••• I••• ••• G••••• C••••••• L••••••••)	term loan first lien	$13.2M	Not disclosed	SOFR+475 bp	Aug 2, 2032
W•••••••• L•• B•••••••• I••••••	preferred equity equity	Not disclosed	Not disclosed n/a
S•• H•••••• L•• d•• S•••••••• D••••• B•••••	unstated lien unstated	Not disclosed	Not disclosed
G•••••• S•••• F•••••••• S••••• G••••••••• F•••	equity equity	Not disclosed	Not disclosed
P••••• I••••••••• L•• ••• A••••••• I••••••••• L••• D••••••••• C••••••• Services	term loan first lien	$4.4M	Not disclosed n/a	SOFR+525 bp	Oct 19, 2027
S•• H•••••••• L•• d•• S•••••••• M••••••••• L••	unstated lien unstated	Not disclosed	Not disclosed
S•••• M•••• L•• C••••••••• Services & S•••••••	term loan second lien	$16.4M	Not disclosed		Mar 12, 2036
S•• H•••••• L•• ••• S•••••••• D••••• B•••••• H••••• C••• P•••••••• & Services I••••••	equity equity	Not disclosed	Not disclosed
K••• H••••••• I••• ••• S•••••• H•••••••• B••••••• P••••••• I••••••	warrants equity	Not disclosed	Not disclosed
C•••• I••••••••• I••• ••• S•••••• H•••••••• B••••••• P•••••••	term loan second lien	$15.5M	Not disclosed	S+1000 bp	Nov 11, 2027
M•• P••••••• L•• A••••••••• C•••••••••	term loan second lien	$7.4M	Not disclosed	S+1200 bp	Jul 15, 2025
S••••• B••••• L•• ••• C•••••• C••••••••• S•••••••• R•••••	term loan first lien	$2.2M	Not disclosed n/a	SOFR+500 bp	May 31, 2030
K••• S•••• H••••••• L••••••	unstated lien unstated	Not disclosed	Not disclosed
I••••••••• D••• I••••••••• • 2••••• U••••• S••••• • 2••••• U B••••••••	subordinated debt unsecured or subordinated	$37.7M	Not disclosed	SOFR+1500 bp PIK 15.00%	Apr 3, 2027
T•••••• H•••••••• I••• B•••••••• R••••• I••••••	equity equity	Not disclosed	Not disclosed
I••••••••• D••• I••••••••• • 2••••• U••••• S••••• • 2••••• U B••••••••	subordinated debt unsecured or subordinated	$21.8M	Not disclosed n/a	SOFR+1500 bp PIK 15.00%	Apr 3, 2027
K••• S•••• H••••••• L••••••	unstated lien unstated	Not disclosed	Not disclosed
P••••••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
S•• H•••••• L•• ••• S•••••••• D••••• B•••••• H••••• C••• P•••••••• & Services I••••••	preferred equity equity	Not disclosed	Not disclosed n/a
P•• M••••••••• H•••••••• L•• ••• P•••••• H••••• C••• P•••••••• & Services I••••••	equity equity	Not disclosed	Not disclosed
B•••••••• I••• P••••••••• Services	term loan first lien	Not disclosed	Not disclosed n/a	SOFR+500 bp	Oct 1, 2029
Z••••••• U• B•••• I••• ••• G••••• C••••••• L••••••••)	term loan first lien	$4.0M	Not disclosed	SOFR+475 bp	Aug 2, 2032
C••••••• S•••••••• I••• Financial Services	term loan first lien	$14.8M	Not disclosed n/a	SOFR+525 bp	Nov 15, 2029
M••••••••• G•••• H•••••••• L•• H••••• C••• T••••••••• I••••••	preferred equity equity	Not disclosed	Not disclosed
M••••••••• G•••• H•••••••• L•• H••••• C••• T••••••••• I••••••	equity equity	Not disclosed	Not disclosed
K••• H••••••• I••• ••• S•••••• H•••••••• B••••••• P••••••• I••••••	warrants equity	Not disclosed	Not disclosed
T•••••• H•••••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
I••••••••• D••• I••••••••• • 2••••• U••••• S••••• • 2••••• U B••••••••	subordinated debt unsecured or subordinated	$13.2M	Not disclosed n/a	SOFR+1500 bp PIK 15.00%	Apr 3, 2027
C•••••• A••• M• P••• L••	unstated lien unstated	Not disclosed	Not disclosed
W•••••••• L•• B•••••••• I••••••	preferred equity equity	Not disclosed	Not disclosed n/a
I•••••• I••••••••• H•••••••• I•••	unstated lien unstated	Not disclosed	Not disclosed

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