Ranked by reported Q1 2026 13F market value
Share of total reported institutional value in GBDC held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | STRS OHIO | 17.1M | $217.0M | +2.6% | 6.580% | 0.86% |
| 2 | HighTower Advisors, LLC | 7.0M | $89.2M | +206.6% | 2.705% | 0.09% |
| 3 | Corient Private Wealth LLC | 4.5M | $56.6M | -13.2% | 1.738% | 0.08% |
| 4 | UBS Group AG | 4.1M | $51.4M | +41.6% | 1.558% | 0.01% |
| 5 | Sage Mountain Advisors LLC | 3.8M | $47.6M | +11.8% | 1.442% | 3.33% |
| 6 | Sound Income Strategies, LLC | 3.8M | $46.9M | +4.1% | 1.440% | 2.26% |
| 7 | OMERS ADMINISTRATION Corp | 3.6M | $45.1M | +17.9% | 1.367% | 0.29% |
| 8 | Allen Investment Management LLC | 3.4M | $42.6M | -17.3% | 1.292% | 0.53% |
| 9 | BANK OF AMERICA CORP /DE/ | 3.3M | $41.4M | -7.0% | 1.255% | 0.00% |
| 10 | ARES MANAGEMENT LLC | 3.1M | $38.7M | +11.8% | 1.174% | 2.55% |
| 11 | Rockefeller Capital Management L.P. | 2.8M | $35.5M | -26.3% | 1.076% | 0.06% |
| 12 | Generali Asset Management SPA SGR | 2.6M | $33.3M | 0.0% | 1.010% | 0.69% |
| 13 | Lalia Capital, LLC | 2.5M | $32.2M | +2.5% | 0.976% | 20.33% |
| 14 | Legal & General Group Plc | 2.2M | $28.4M | +8.5% | 0.859% | 0.01% |
| 15 | Muzinich & Co., Inc. | 2.0M | $25.1M | +1.3% | 0.762% | 8.79% |
| 16 | MORGAN STANLEY | 2.0M | $25.0M | -35.1% | 0.759% | 0.00% |
| 17 | Arnhold LLC | 1.5M | $19.5M | +4.6% | 0.590% | 1.43% |
| 18 | Sumitomo Mitsui Trust Holdings, Inc. | 1.5M | $19.2M | 0.0% | 0.581% | 0.01% |
| 19 | Coastal Bridge Advisors, LLC | 1.3M | $16.4M | +159.4% | 0.496% | 1.16% |
| 20 | Russell Investments Group, Ltd. | 1.3M | $16.2M | +255.8% | 0.492% | 0.02% |
| 21 | MAI Capital Management | 1.2M | $15.5M | -10.5% | 0.469% | 0.13% |
| 22 | BlackRock, Inc. | 1.2M | $15.1M | -40.1% | 0.458% | 0.00% |
| 23 | FRANKLIN RESOURCES INC | 1.1M | $14.5M | +89.9% | 0.441% | 0.00% |
| 24 | BANK OF MONTREAL /CAN/ | 1.1M | $13.4M | 0.0% | 0.406% | 0.01% |
| 25 | Hirtle Callaghan & Co LLC | 1.0M | $12.9M | +0.9% | 0.390% | 0.44% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). β% of Fundβ shows how much of that investorβs total 13F portfolio is invested in GBDC β a direct measure of their conviction.
Filings activity in GBDC during Q1 2026, grouped by how each filer changed its position.
Institutions that opened a new GBDC position in Q1 2026
Institutions that fully closed their GBDC position in Q1 2026
8 quarters of 13F filings Β· Ξ columns show change vs prior quarter
| Quarter | Inst. Holders | Ξ Holders | Ownership % | Ξ Ownership | Total 13F Value | Ξ Value |
|---|---|---|---|---|---|---|
| Q1 2026 | 342 | 1.7% | 39.66% | 3.86 pp | $1.37B | 8.9% |
| Q4 2025 | 348 | +9.1% | 43.52% | +2.72 pp | $1.51B | +6.7% |
| Q3 2025 | 319 | +2.2% | 40.80% | 2.00 pp | $1.41B | 4.7% |
| Q2 2025 | 312 | 4.3% | 42.80% | 1.43 pp | $1.48B | 3.2% |
| Q1 2025 | 326 | +2.5% | 44.23% | +7.20 pp | $1.53B | +19% |
| Q4 2024 | 318 | +16% | 37.03% | 0.16 pp | $1.28B | 0.4% |
| Q3 2024 | 274 | 3.5% | 37.19% | 1.42 pp | $1.29B | 3.7% |
| Q2 2024 | 284 | β | 38.61% | β | $1.34B | β |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Ξ columns compare to the immediately prior filed quarter.
Quick answers to the most common questions about buying GBDC stock.
Based on Q1 2026 13F filings, institutional ownership of Golub Capital BDC, Inc. stands at 39.7%, held across 342 reporting institutions.
STRS OHIO is the largest reported institutional holder of GBDC, with approximately 17,140,532 shares worth $0.22B as of Q1 2026.
No marquee "smart money" managers (Berkshire, Burry, ARK, Tiger Global, Pershing Square, Baupost, etc.) currently appear among the top 25 institutional holders of GBDC.
Our composite Smart Money Score for GBDC is 22 out of 100 (Bearish). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
58 institutions opened new positions in GBDC during Q1 2026, while 64 fully exited. 81 added to existing positions and 201 trimmed.
GBDC institutional ownership fell by 3.86 percentage points quarter-over-quarter, with a net change of -6 holders.
The top 10 institutions account for 49.3% of all reported 13F value in GBDC, and the top 25 account for 72.7%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.
Golub Capital BDC, Inc. (GBDC) Institutional Ownership