Here are the 10-K annual reports from Barings BDC, Inc. (BBDC) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow BBDC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BBDC filings page.
The company’s annual report section provides a detailed schedule of its investment portfolio, showing hundreds of positions across private borrowers and structures. Most assets are credit instruments such as First Lien Senior Secured Term Loans, revolvers, delayed draw term loans, second lien and subordinated term loans, as well as structured notes and municipal and other secured bonds.
The schedule also lists extensive equity and equity-like holdings, including common and preferred stock, LLC and partnership units, warrants, royalty rights and various member interests. Many instruments have stated maturities on 2024-12-31 and 2025-12-31, and at least one loan specifies a floating rate of SOFR + 6.75%, 11.3% cash. The portfolio further includes foreign currency forward contracts in several currencies, highlighting additional hedging or trading activity.