A new 5.0 million-share position in GSBD was disclosed, marking a rare bet amid the stock’s 13% annual decline.
Private Management Group Inc disclosed a $46.19 million stake in Goldman Sachs BDC (GSBD) after purchasing 5,003,354 shares in the first quarter. The position, valued at $44.43 million as of March 31, reflects the fund’s first investment in the business development company.
GSBD has underperformed the S&P 500, falling 13% over the past year while the index rose 30%. The stock traded at $9.28 on Friday, offering an 11% dividend yield. The new stake represents 1.3% of the fund’s reported 13F assets under management.
The fund’s top holdings include BRK-B ($95.05 million), SPNT ($73.51 million), and COLD ($54.77 million). The move signals selective interest in BDCs despite broader sector struggles.