HIGHBuilt-inGeographic
94.8%
United States
“10-K Item 1: 'The geographic composition of our portfolio at fair value as of December 31, 2025 was primarily 94.8% in the United States, 3.2% in Canada, 1.5% in the United Kingdom and 0.5% in India.'”
GSBD · Concentration risk · 10-K extracted
Goldman Sachs BDC (GSBD) concentration risks
Updated
The most significant concentration Goldman Sachs BDC discloses is United States at 94.8%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Goldman Sachs BDC’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH1
MEDIUM1
LOW1
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMOutside partyCounterparty
Investment Adviser (GSAM)
“10-K Item 1A: 'We depend upon management personnel of our Investment Adviser for our future success.'”
LOWBuilt-inProduct / Revenue mix
17.6%
Software
“10-K Item 1: 'The largest industries in our portfolio, based on fair value as of December 31, 2025, were Software, Health Care Providers & Services, Health Care Technology, which represented 17.6%, 8.8% and 8.4%, respectively, of our portfolio at fair value.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06Goldman Sachs BDC's portfolio concentration is primarily geographic and structural rather than counterparty-driven. The portfolio is overwhelmingly weighted toward the United States, at 94.8% of fair value, with the remainder split across Canada, the United Kingdom, and India — a large, structural concentration reflecting the BDC's domestic-lending focus rather than dependency on any single geography's cyclicality beyond the U.S. itself. Industry concentration is comparatively modest: Software represented the largest industry weighting at 17.6% of portfolio fair value, a smaller share that suggests reasonable diversification across the remaining book. Separately, the BDC depends on management personnel of its Investment Adviser, Goldman Sachs Asset Management, for its future success — a dependency-type exposure common to externally managed BDCs, where key-person or adviser continuity risk sits alongside the portfolio's own concentration. Taken together, the geographic concentration in the U.S. is the largest disclosed exposure and is structural to the strategy, while industry concentration is comparatively diversified and adviser dependency is the qualitative risk most likely to matter if management or advisory arrangements were to change.
For the engine’s reasoning on GSBD’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Asset Management
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| AAMI | Acadian Asset Management Inc. | 1 | 2 | 1 | 4 |
| GSBD● | Goldman Sachs BDC, Inc. | 1 | 1 | 1 | 3 |
| ALTI | AlTi Global, Inc. | 1 | 0 | 0 | 1 |
| AMP | Ameriprise Financial, Inc. | 0 | 1 | 0 | 1 |
| AB | AllianceBernstein Holding L.P. | 0 | 0 | 1 | 1 |
| AMG | Affiliated Managers Group, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.