골럽캐피탈 BDC, Inc.
US ˙ NasdaqGS ˙ US38173M1027

SecurityGBDC / Golub Capital BDC, Inc.
InstitutionMorgan Stanley
Latest Disclosed Ownership1,977,346 shares
Latest Disclosed Value $ 25,033,201
Morgan Stanley reports 35.14% decrease in ownership of GBDC / Golub Capital BDC, Inc.

On May 15, 2026 - Morgan Stanley filed a 13F-HR form disclosing ownership of 1,977,346 shares of Golub Capital BDC, Inc. (US:GBDC) valued at $25,033,200 USD as of March 31, 2026. The entity filed a previous 13F-HR/A on May 27, 2026 disclosing 3,048,675 shares of Golub Capital BDC, Inc.. This represents a change in shares of -35.14% during the quarter. The current value of the position is $25,784,592 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F GOLUB CAP BDC COM 38173M102 1,977,346 -1,071,329 -35.14 25,033 -39.49 0.0015
2026-05-27 2025-12-31 13F/A-1 GOLUB CAP BDC COM 38173M102 3,048,675 717,904 30.80 41,371 29.65 0.0025
2026-02-13 2025-12-31 13F GOLUB CAP BDC COM 38173M102 3,048,675 717,904 41,371 0.0025
2026-05-27 2025-09-30 13F/A-1 GOLUB CAP BDC COM 38173M102 2,330,771 -302,246 -11.48 31,908 -17.28 0.0019
2025-11-14 2025-09-30 13F GOLUB CAP BDC COM 38173M102 2,330,771 -302,246 31,908 0.0019
2025-08-15 2025-06-30 13F GOLUB CAP BDC COM 38173M102 2,633,017 232,527 9.69 38,574 6.14 0.0025
2025-05-15 2025-03-31 13F GOLUB CAP BDC COM 38173M102 2,400,490 -2,939 -0.12 36,343 -0.25 0.0026
2025-05-15 2024-12-31 13F/A-1 GOLUB CAP BDC COM 38173M102 2,403,429 265,199 12.40 36,436 12.77 0.0026
2025-02-14 2024-12-31 13F GOLUB CAP BDC COM 38173M102 2,403,429 265,199 36,436 0.0026
2025-05-14 2024-09-30 13F/A-2 GOLUB CAP BDC COM 38173M102 2,138,230 -273,089 -11.33 32,309 -14.71 0.0023
2025-02-14 2024-09-30 13F/A-1 GOLUB CAP BDC COM 38173M102 2,138,230 -273,089 32,309 0.0023
2024-11-14 2024-09-30 13F GOLUB CAP BDC COM 38173M102 2,138,230 -273,089 32,309 0.0003
2025-05-14 2024-06-30 13F/A-2 GOLUB CAP BDC COM 38173M102 2,411,319 391,767 19.40 37,882 12.79 0.0029
2024-10-17 2024-06-30 13F/A-1 GOLUB CAP BDC COM 38173M102 2,411,319 391,767 37,882 0.0029
2024-08-14 2024-06-30 13F GOLUB CAP BDC COM 38173M102 2,411,319 391,767 37,882 0.0029
2024-10-17 2024-03-31 13F/A-2 GOLUB CAP BDC COM 38173M102 2,019,552 672,914 49.97 33,585 65.17 0.0027
2024-08-16 2024-03-31 13F/A-1 GOLUB CAP BDC COM 38173M102 2,019,552 672,914 33,585 0.0003
2024-05-15 2024-03-31 13F GOLUB CAP BDC COM 38173M102 2,019,552 672,914 33,585 0.0027
2024-08-16 2023-12-31 13F/A-1 GOLUB CAP BDC COM 38173M102 1,346,638 57,491 4.46 20,334 7.52 0.0018
2024-02-13 2023-12-31 13F GOLUB CAP BDC COM 38173M102 1,346,638 57,491 20,334 0.0018
2023-11-15 2023-09-30 13F GOLUB CAP BDC COM 38173M102 1,289,147 -11,054 -0.85 18,912 7.74 0.0019
2023-08-14 2023-06-30 13F GOLUB CAP BDC COM 38173M102 1,300,201 7,030 0.54 17,553 0.10 0.0017
2023-05-15 2023-03-31 13F GOLUB CAP BDC COM 38173M102 1,293,171 130,488 11.22 17,535 14.61 0.0019
2023-02-14 2022-12-31 13F GOLUB CAP BDC COM 38173M102 1,162,683 -136,903 -10.53 15,301 -4.98 0.0017
2022-11-14 2022-09-30 13F GOLUB CAP BDC COM 38173M102 1,299,586 -176,593 -11.96 16,102 -15.83 0.0022
2022-10-27 2022-06-30 13F/A-1 GOLUB CAP BDC COM 38173M102 1,476,179 -112,533 -7.08 19,131 -20.83 0.0025
2022-08-15 2022-06-30 13F GOLUB CAP BDC COM 38173M102 1,476,179 -112,533 19,131 0.0005
2022-10-27 2022-03-31 13F/A-1 GOLUB CAP BDC COM 38173M102 1,588,712 212,760 15.46 24,164 13.74 0.0033
2022-05-13 2022-03-31 13F GOLUB CAP BDC COM 38173M102 1,588,712 212,760 24,164 0.0033
2022-02-14 2021-12-31 13F GOLUB CAP BDC COM 38173M102 1,375,952 163,038 13.44 21,245 10.79 0.0026
2021-11-15 2021-09-30 13F GOLUB CAP BDC COM 38173M102 1,212,914 -18,063 -1.47 19,176 1.03 0.0026
2021-08-23 2021-06-30 13F/A-1 GOLUB CAP BDC COM 38173M102 1,230,977 -50,182 -3.92 18,981 1.33 0.0025
2021-08-16 2021-06-30 13F GOLUB CAP BDC COM 38173M102 1,230,977 -50,182 18,981 0.0005
2021-05-17 2021-03-31 13F GOLUB CAP BDC COM 38173M102 1,281,159 670,242 109.71 18,731 116.84 0.0028
2021-02-16 2020-12-31 13F GOLUB CAP BDC COM 38173M102 610,917 138,682 29.37 8,638 38.16 0.0013
2020-11-13 2020-09-30 13F GOLUB CAP BDC COM 38173M102 472,235 156,780 49.70 6,252 70.12 0.0012
2020-08-14 2020-06-30 13F GOLUB CAP BDC COM 38173M102 315,455 6,343 2.05 3,675 -5.33 0.0008
2020-05-26 2020-03-31 13F/A-1 GOLUB CAP BDC COM 38173M102 309,112 -221,297 -41.72 3,882 -60.34 0.0011
2020-05-15 2020-03-31 13F GOLUB CAP BDC COM 38173M102 309,112 -221,297 3,882 298.2185
2020-02-14 2019-12-31 13F GOLUB CAP BDC COM 38173M102 530,409 140,254 35.95 9,789 33.17 0.0023
2019-11-14 2019-09-30 13F GOLUB CAP BDC COM 38173M102 390,155 -8,422 -2.11 7,351 3.62 0.0019
2019-08-14 2019-06-30 13F GOLUB CAP BDC COM 38173M102 398,577 -14,490 -3.51 7,094 -3.95 0.0019
2019-05-15 2019-03-31 13F GOLUB CAP BDC COM 38173M102 413,067 -23,188 -5.32 7,386 2.65 0.0021
2019-02-14 2018-12-31 13F GOLUB CAP BDC COM 38173M102 436,255 18,277 4.37 7,195 -8.19 0.0022
2019-04-23 2018-09-30 13F/A-2 GOLUB CAP BDC COM 38173M102 417,978 -61,469 -12.82 7,837 -10.68 0.0020
2018-11-20 2018-09-30 13F/A-1 GOLUB CAP BDC COM 38173M102 417,978 0 7,837 0.0020
2018-11-14 2018-09-30 13F GOLUB CAP BDC COM 38173M102 417,978 -61,469 7,837
2019-04-23 2018-06-30 13F/A-1 GOLUB CAP BDC COM 38173M102 479,447 -41,352 -7.94 8,774 -5.83 0.0024
2018-08-14 2018-06-30 13F GOLUB CAP BDC COM 38173M102 479,447 -41,352 8,774
2019-04-23 2018-03-31 13F/A-1 GOLUB CAP BDC COM 38173M102 520,799 7,344 1.43 9,317 -0.30 0.0026
2018-05-14 2018-03-31 13F GOLUB CAP BDC COM 38173M102 520,799 7,344 9,317
2019-04-23 2017-12-31 13F/A-1 GOLUB CAP BDC COM 38173M102 513,455 24,563 5.02 9,345 1.58 0.0026
2018-02-14 2017-12-31 13F GOLUB CAP BDC COM 38173M102 513,455 24,563 9,345
2017-11-14 2017-09-30 13F GOLUB CAP BDC COM 38173M102 488,892 36,457 8.06 9,200 6.37 0.0028
2017-08-11 2017-06-30 13F GOLUB CAP BDC COM 38173M102 452,435 -54,119 -10.68 8,649 -14.11 0.0026
2017-05-22 2017-03-31 13F/A-1 GOLUB CAP BDC COM 38173M102 506,554 -53,639 -9.58 10,070 -2.24 0.0031
2017-05-12 2017-03-31 13F GOLUB CAP BDC COM 38173M102 506,554 10,070
2017-02-22 2016-12-31 13F/A-1 GOLUB CAP BDC COM 38173M102 560,193 -58,412 -9.44 10,301 -10.33 0.0034
2017-02-13 2016-12-31 13F GOLUB CAP BDC COM 38173M102 560,193 10,301
2016-11-10 2016-09-30 13F GOLUB CAP BDC COM 38173M102 618,605 -11,165 -1.77 11,488 0.95 0.0039
2016-08-12 2016-06-30 13F GOLUB CAP BDC COM 38173M102 629,770 -8,570 -1.34 11,380 2.99 0.0041
2016-05-12 2016-03-31 13F GOLUB CAP BDC COM 38173M102 638,340 -15,795 -2.41 11,050 1.58 0.0043
2016-02-09 2015-12-31 13F GOLUB CAP BDC COM 38173M102 654,135 58,761 9.87 10,878 14.34 0.0039
2016-02-08 2015-09-30 13F/A-1 GOLUB CAP BDC COM 38173M102 595,374 158,407 36.25 9,514 31.48 0.0035
2015-11-09 2015-09-30 13F GOLUB CAP BDC COM 38173M102 595,374 9,514
2015-08-12 2015-06-30 13F GOLUB CAP BDC COM 38173M102 436,967 149,395 51.95 7,236 43.37 0.0025
2015-05-14 2015-03-31 13F GOLUB CAP BDC COM 38173M102 287,572 174,343 153.97 5,047 148.74 0.0019
2015-02-13 2014-12-31 13F GOLUB CAP BDC COM 38173M102 113,229 30,797 37.36 2,029 54.30 0.0007
2014-12-16 2014-09-30 13F/A-1 GOLUB CAP BDC COM 38173M102 82,432 -41,101 -33.27 1,315 -40.31 0.0005
2014-11-14 2014-09-30 13F GOLUB CAP BDC COM 38173M102 82,432 1,315
2014-05-13 2014-03-31 13F GOLUB CAP BDC COM 38173M102 123,533 -21,977 -15.10 2,203 -20.76 0.0009
2014-02-13 2013-12-31 13F GOLUB CAP BDC COM 38173M102 145,510 24,400 20.15 2,780 32.57 0.0012
2013-11-13 2013-09-30 13F GOLUB CAPITAL BDC COM 38173M102 121,110 29,697 32.49 2,097 31.14 0.0010
2013-08-08 2013-06-30 13F GOLUB CAPITAL BDC COM 38173M102 91,413 91,413 1,599 0.0008
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.