Golub Capital BDC (GBDC)
Provides senior secured loans to private-equity-sponsored U.S. middle-market companies through an externally managed BDC.
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Invests primarily in first-lien and one-stop loans to private-equity-sponsored U.S. middle-market companies. The externally managed BDC relies on Golub Capital's sponsor-finance platform and operates within BDC and RIC requirements.
Operates as an externally managed business development company, investing primarily in first-lien senior secured loans and one-stop loans to private-equity-sponsored U.S. middle-market companies.
The investment platform originates directly through sponsor relationships, underwrites loans, and uses financing infrastructure to support leveraged investment vehicles. The portfolio is diversified across borrower industries, though software is its largest disclosed industry exposure.
Earnings and asset values depend on portfolio-company credit performance and valuations, GC Advisors' external-management arrangement, and access to financing within the BDC framework. BDC and RIC elections also constrain investment, distribution, and leverage practices.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| May 6, 2026 | Oppenheimer | Target | Target: — | Target: $14 |
| Apr 17, 2026 | RBC Capital | Target | Target: — | Target: $15 |
| Feb 6, 2026 | Wells Fargo | Reiterate | Rating: —Target: $14 | Target: $13 |
| Jan 15, 2026 | Capital One Financial | Target | Target: — | Target: $15 |
| Jan 7, 2026 | Wells Fargo | Upgrade | Target: $17.50 | Target: $14 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $13.0M · Total debt $4.54B · Total assets $8.34B · Shareholders' equity $3.70B
- Revenue
- $159.5M
- Operating income
- $121.1M
- Net income
- $31.9M
HistoryDividendAnnual yield
| Institutions | 47.04% | 122.15M shares | |
|---|---|---|---|
| 325 holders · as of Jun 30, 2026 | |||
| Insiders | 0.18% | 454.9K shares | |
| 3 holders · as of May 5, 2025 | |||
| Other | 52.78% | 137.05M shares | |
| remainder | |||
259.65M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
STRS OhioInstitution | 6.77% | 17.58M | as of Jun 30, 2026 |
Hightower Advisors, LLCInstitution | 2.83% | 7.35M | as of Jun 30, 2026 |
Van Eck Associates CorpInstitution | 1.81% | 4.71M | as of Jun 30, 2026 |
Sound Income Strategies, LLCInstitution | 1.49% | 3.88M | as of Jun 30, 2026 |
UBS Group AGInstitution | 1.48% | 3.85M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 7, 2026 | David Golub | director, officer: Chairman & CEO | −1,676,387 | $13.06 |
| Aug 7, 2026 | Lawrence E. Golub | director | −1,676,387 | $13.06 |
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- Blackstone Secured Lending Fund
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- FS KKR Capital
Customized credit solutions for private U.S. middle-market companies
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Golub Capital BDC | $12.60 | +0.36% | $3.27B | 22.8 | 9.8 | 4.6 | −14.2% |
| Ares Capital | $19.41 | −0.15% | $13.96B | 14.4 | 10.1 | 6.0 | +32.6% |
| Blue Owl Capital | $11.19 | −0.04% | $5.55B | 20.0 | 8.7 | 3.9 | −20.8% |
| Blackstone Secured Lending Fund | $24.88 | −0.34% | $5.81B | 19.6 | 9.5 | 5.5 | +25.9% |
| FS KKR Capital | $11.43 | −0.04% | $3.20B | — | 7.3 | 3.4 | +11.5% |
| Median | 19.6 | 9.1 | 4.7 | +18.7% |