Letters by company
Goldman Sachs BDC, Inc.
16 letters discussing GSBD. Everything written about it on this site is on its ticker page.
- Latitude Investment Management Latitude Q3 2024 Investor Letter The Global Equity portfolio added Ryanair and UnitedHealth, shifted drug-distribution exposure from McKesson toward Cencora, and cut Alphabet and Goldman Sachs to fund stronger opportunities. It argues that volatility enables disciplined rotation among long-term holdings, while Dollar Tree faces a delayed trade-down benefit and a maturing store base. Q3 2024 RYAAY $30BBAC $352BCOR $69B
- Fairtree Asset Management Fairtree Global Equity Fund Q3 2026 commentary Fairtree Global Equity Fund rotated memory exposure from Micron Technology into SK Hynix and added to Alphabet, Broadcom and Nvidia as the AI trade broadened. It opened positions in Applied Materials, Siemens Energy, British American Tobacco, Goldman Sachs and AstraZeneca, while exiting several holdings whose risk-reward or portfolio fit had deteriorated. Q3 2026 —
- Matrix Asset Advisors Capital Markets Commentary and Quarterly Report: 3rd Quarter 2026 Matrix Asset Advisors initiated Uber Technologies after autonomous-vehicle fears lowered its valuation, added to TE Connectivity and Qualcomm, and exited Nike and Intuit for more timely opportunities. The firm extended bond maturities modestly after higher Treasury yields, while warning that AI capital spending, elevated rates and weak housing could constrain growth. 3rd Quarter 2026 NKE $56BUBER $142B
- YCG Investments Q2: Why owning quality businesses matters more than ever. YCG argues that the AI investment boom has created an expensive, concentrated market vulnerable to the capital-cycle pattern of overbuilding and collapsing returns. It favors global “toll-taker” businesses with constrained supply, recurring revenue and durable pricing power, while buying quality companies sold off to fund AI speculation. quarter ended June 30, 2026 AMZN $2.9TMETA $1.6TMSFT $3.9T
- Aristotle Funds Aristotle Ultra Short Income Fund Commentary Aristotle Ultra Short Income Fund emphasized investment-grade corporates, AAA CLO debt and senior ABS while keeping a credit bias and longer-than-benchmark duration. The portfolio favored global systemically important banks, utilities, selective office REITs and data-center technology issuers, while remaining cautious on consumer cyclicals, healthcare names facing M&A pressure and retail. second quarter of 2026 —
- Matrix Asset Advisors Capital Markets Commentary and Quarterly Report: 2nd Quarter 2026 Matrix Asset Advisors added Consumer Staples, Healthcare and selected pressured Technology names while trimming holdings that had become oversized or reached target prices. The firm initiated Abbott Laboratories and McDonald’s in its dividend strategy, reduced equity overweighting in balanced accounts, and continued to favor bonds maturing within five years. 2nd Quarter 2026 ABT $188BMCD $192B
- Nightview Capital Q1 2026 Investor Letter Nightview Fund exited casino, hospitality, China and several legacy technology positions, then rotated into enterprise software and selected infrastructure businesses. The fund argues that AI strengthens deeply embedded platforms such as Axon, ServiceNow, Shopify and Autodesk, while retaining Tesla and NVIDIA as core AI and robotics holdings. Q1 2026 ADSK $55BAXON $25BNOW $106B
- QuantStreet Capital April 2026 Update QuantStreet maintains diversified US and international risk exposure, pairing a bullish US-equity case around AI infrastructure, fiscal stimulus and credit capacity with a weaker-dollar case for foreign assets. It is watching publicly traded business-development companies rather than buying them amid private-credit redemptions, and judges the Iran War energy shock likely temporary. March 2026 —
- Andrew Hill Investment Advisors Q1 2026 Client Letter Andrew Hill Investment Advisors reduced equity, long-duration bond and gold exposure, added short-term bonds and an S&P 500 inverse fund, citing the Iran conflict, energy inflation and weakening economic conditions. The portfolios emphasize Nvidia, Microsoft, Apple, renewable-power equipment and U.S. gas infrastructure, while adding EQT, National Fuel Gas and Rivian. The firm argues that AI-driven electricity demand and localized energy production support its energy and utility themes. 2026.Q1 AAPL $5.2TEQT $33BGEV $213B
- Latitude Investment Management Latitude Annual Report 2025 Latitude Investment Management argues that disciplined trading in Dollar Tree improved the portfolio while preserving exposure to its core discount-retail thesis. It replaced Heineken with Royalty Pharma, Interactive Brokers with Intercontinental Exchange and BP with Assa Abloy, seeking stronger growth with less cyclicality. The portfolio also emphasizes defensive healthcare, infrastructure and selected AI exposure through Alphabet. 2025 DLTR $26BAIQUY $136BASAZY $43B
- Long Cast Advisers 1Q25 RSSS remains a core thesis despite research-funding risks, with management’s sales-force overhaul, deferred revenue and cost discipline supporting the case for share gains against Clarivate. Long Cast pressed Quest Resource to add technology and operations expertise to its board, while retaining conviction in CCRD’s contract reset and new-customer traction amid heightened policy uncertainty. 1Q25 QRHC $30MCLVT $1.5B
- Latitude Investment Management Annual Report 2023 Latitude's portfolio retained its consumer-staples exposure, arguing that Tesco's strengthening market position and Diageo's inventory reset are mispriced. It added WEC Energy Group for regulated utility growth and switched Equinor into Shell on European gas concerns. The manager argues that durable earnings growth and discounted valuations should ultimately overcome the market's preference for popular technology stocks. 2023 AIQUY $136BAZO $52BDEO $57B
- GoodHaven Capital Management 2023 Annual Letter to Shareholders GoodHaven added materially to Bank of America, Devon, Berkshire Hathaway, Goldman Sachs and Occidental Petroleum warrants, while opening a position in Camden Property Trust after weakness in financials, energy and real estate. It sold Alibaba after concluding its thesis was flawed, and argues that Builders FirstSource, Lennar, KKR and TerraVest retain durable earnings and capital-allocation advantages. fiscal year 2023 BAC $352BBLDR $6.5BBRK.A $1.3T
- GoodHaven Capital Management Shareholder Letter GoodHaven Fund added to KKR and materially increased Exor, arguing that both retain substantial long-term value despite a tougher rate environment. It maintained major holdings in Alphabet and Berkshire Hathaway, while monitoring Meta’s spending and competition from TikTok, and positioned for firmer pricing in auto insurance through Progressive. 2022 fiscal year BRK.A $1.3TDVN $53BEXXRF $25B
- Andrew Hill Investment Advisors The Client Letter Andrew Hill Investment Advisors maintained a defensive tilt through natural gas, healthcare, gold and short-duration fixed income while adding Tesla, Deere, Microsoft, Nvidia and Henry Schein. The firm reduced JPMorgan, Goldman Sachs and Nvidia, avoided most real estate and oil exposure, and argued that inflation, war-related supply shocks and tighter Federal Reserve policy would keep markets volatile. 1st Quarter 2022 AAPL $5.2TDE $182BMSFT $3.9T
- Andrew Hill Investment Advisors The Client Letter: Pivoting Investment Strategy Andrew Hill Investment Advisors expects pandemic-driven supply constraints to ease while labor and housing shortages keep longer-term inflation elevated. The firm harvested gains in speculative growth holdings, shifted from Nvidia to Apple, and favors recurring-revenue growth companies, renewable energy, financials and healthcare as Federal Reserve policy tightens. Year to Date (as of December 15, 2021) AAPL $5.2TABBNY $152BABBV $521B
