Next Capital Management LLC GBDC — GOLUB CAPITAL BDC INC

Ownership history in Next Capital Management LLC  ·  28 quarters on record

AI Ownership Summary

Next Capital Management LLC reported GOLUB CAPITAL BDC INC (GBDC) in 28 quarterly 13F filings from 2023 Q4 through 2026 Q1. Peak portfolio weight reached 5.07% in 2024 Q2. The latest visible filing shows GBDC at 2.17% of the fund.

This page tracks quarterly shares, estimated market value, portfolio weight, filing dates, and disclosure-aligned stock prices directly from SEC EDGAR 13F filings. Older history is available after unlock; the visible window still shows the most recent pattern.

What this GBDC ownership page tells you

This page is designed to answer the real investor question behind a 13F filing: how meaningful was Next Capital Management LLC's position in GOLUB CAPITAL BDC INC, and how did that conviction change over time? You can read the holding window, peak weight, latest reported size, disclosure timing, and quarter-by-quarter changes without piecing the story together from raw SEC rows.

Freshest filing
Latest Reported Filing
2026 Q1

GBDC was reported at 2.17% of portfolio in the most recent visible filing.

High-water mark
Peak Conviction
5.07% in 2024 Q2

Peak weight helps separate a token disclosure from a real conviction holding the fund genuinely cared about.

Time in book
Holding Window
2023 Q4 to 2026 Q1

Longer holding windows often tell a very different story from short-lived tactical trades or one-quarter experiments.

Decision context
Why It Matters
Position size beats headlines

Knowing that a fund owned a stock is useful. Knowing whether it was a 0.20% placeholder or a true high-conviction position is where the signal actually starts.

GBDC stock page Next Capital Management LLC fund profile Next Capital Management LLC full holdings
How Next Capital Management LLC held GBDC — position size vs. price
% of Fund (quarterly)    GBDC price (quarter-end, indexed to 100)    SPY (indexed to 100)    QQQ (indexed to 100)
📋 Quarterly Holdings History 10 quarters  ▾
Quarter Action Sold % After 3M Timing Shares Change Chg % % of Fund Mkt Value Filed Price (Filed)
2026 Q1 ADDED — — — 567,205 +322,992 +132.3% 2.17% $7.2M 2026-05-07 $13.15
2025 Q4 UNCHANGED — — — 244,213 — 0% 1.06% $3.3M 2026-02-11 $12.40
2025 Q3 REDUCED 12.6% +1.4% ❌ 244,213 -35,231 -12.6% 1.12% $3.3M 2025-11-05 $13.31
2025 Q2 REDUCED 18.5% -3.8% ✅ 279,444 -63,509 -18.5% 1.51% $4.1M 2025-08-05 $13.62
2025 Q1 REDUCED 41.3% -0.7% ✅ 342,953 -240,923 -41.3% 2.49% $5.2M 2025-05-06 $12.74
2024 Q4 REDUCED 24.4% +2.4% ❌ 583,876 -188,034 -24.4% 3.58% $8.9M 2025-02-11 $13.73
2024 Q3 UNCHANGED — — — 771,910 — 0% 4.76% $11.7M 2024-11-07 $13.03
2024 Q2 ADDED — — — 771,910 +507,377 +191.8% 5.07% $12.1M 2024-08-20 $12.17
2024 Q1 REDUCED 57.3% -3.2% ✅ 264,533 -354,705 -57.3% 1.78% $4.4M 2024-05-14 $13.59
2023 Q4 REDUCED 35.7% +12.8% ❌ 619,238 -343,938 -35.7% 3.98% $9.4M 2024-01-19 $11.91
18 older quarters hidden  —  Sign in free or upgrade to Premium to see full history

🏢 Other funds also holding GBDC

As of 2026 Q1 — sorted by position size

Lalia Capital, LLC 20.33% Muzinich & Co., Inc. 3Y 7Y 8.79% North Ground Capital 7.3% Sage Mountain Advisors LLC 3Y 3.33% Granite FO LLC 2.82% CASTLEKEEP INVESTMENT ADVISORS LLC 2.38% Sound Income Strategies, LLC 3Y 7Y 2.26% Prairiewood Capital, LLC 3Y 1.91% Tranquility Partners, LLC 3Y 1.73% GraniteShares Advisors LLC 3Y 1.63%

FAQ About Next Capital Management LLC and GBDC

These are the practical questions this page is built to answer before you even open the full history table.

How long has Next Capital Management LLC reported owning GBDC?

Next Capital Management LLC reported GBDC across 10 quarterly 13F filings, from 2023 Q4 through 2026 Q1.

What was the largest reported GBDC position in Next Capital Management LLC's portfolio?

The largest reported portfolio weight for GBDC was 5.07% in 2024 Q2.

What is the latest reported GBDC position on this page?

The most recent filing on this page is 2026 Q1, when Next Capital Management LLC reported 567,205 shares, equal to 2.17% of portfolio, with an estimated market value of $7.2M.

What does the chart on this GBDC ownership page compare?

The chart compares Next Capital Management LLC's quarterly GBDC portfolio weight with the stock's indexed share price, so you can see whether the fund was building, trimming, or holding the position as price moved.

How well did Next Capital Management LLC time their GBDC position?

Based on 13F filing dates vs. subsequent GBDC price moves, Next Capital Management LLC correctly timed 14 out of 20 reported position changes (70%). The annualised alpha on GBDC relative to SPY over the holding period was -9.2%.

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