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Bulldog Investors Portfolio holdings

AUM $445M
1-Year Est. Return 2.14%
This Fund
S&P 500
This Quarter Est. Return
-0.88%
1 Year Est. Return
+2.14%
3 Year Est. Return
+20.34%
5 Year Est. Return
+20.45%
10 Year Est. Return
+75.67%
AUM
$449M
AUM Growth
+$16.9M
Cap. Flow
+$21.7M
Cap. Flow %
4.83%
Top 10 Hldgs %
35.16%
Holding
258
New
61
Increased
43
Reduced
71
Closed
37

Top Buys

Rank Stock Value
1
LEO
BNY Mellon Strategic Municipals
LEO
+$4.74M
2
HEQ
John Hancock Hedged Equity & Income Fund
HEQ
+$4.1M
3
DSM
BNY Mellon Strategic Municipal Bond Fund
DSM
+$4.09M
4
BPRE
Bluerock Private Real Estate Fund
BPRE
+$3.74M
5
FSK icon
FS KKR Capital
FSK
+$3.72M

Top Sells

Rank Stock Value
1
AFB
AllianceBernstein National Municipal Income Fund
AFB
+$10M
2
ENX
Eaton Vance New York Municipal Bond Fund
ENX
+$4.77M
3
FTW
Presidio Production Co
FTW
+$4.17M
4
SOUL
Soulpower Acquisition Corp
SOUL
+$3.4M
5
LPBB
Launch Two Acquisition Corp
LPBB
+$3.07M

Sector Composition

Rank Sector Weight
1 Financials 42.05%
2 Industrials 3.2%
3 Energy 2.03%
4 Real Estate 1.69%
5 Consumer Discretionary 1.6%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MBVI
101
M3-Brigade Acquisition VI Corp
MBVI
$440M
$1M 0.22%
+100,000
New +$1.01M
GLQ
102
Clough Global Equity Fund
GLQ
$158M
$976K 0.22%
+127,456
New +$979K
HHH icon
103
Howard Hughes
HHH
$3.95B
$957K 0.21%
12,000
– –
SCPQU
104
Social Commerce Partners Corp Unit
SCPQU
$106M
$890K 0.2%
+88,992
New +$891K
BCV
105
Bancroft Fund
BCV
$144M
$872K 0.19%
39,448
– –
PFX icon
106
PhenixFIN
PFX
$88.9M
$849K 0.19%
19,218
– –
BIXIU
107
Bitcoin Infrastructure Acquisition Corp Unit
BIXIU
$747K 0.17%
+75,000
New +$750K
TDWDU
108
Tailwind 2.0 Acquisition Corp Unit
TDWDU
$747K 0.17%
+74,400
New +$747K
FERA
109
Fifth Era Acquisition Corp I
FERA
$327M
$745K 0.17%
72,361
-1,885
-3% -$19.4K
BDCIU
110
BTC Development Corp Unit
BDCIU
$232M
$711K 0.16%
70,154
– –
CRANU
111
Crane Harbor Acquisition Corp II Units
CRANU
$267M
$643K 0.14%
+63,809
New +$642K
CHAC
112
DELISTED
Crane Harbor Acquisition Corp
CHAC
$628K 0.14%
58,290
-191,710
-77% -$2.14M
HVMCU
113
Highview Merger Corp Units
HVMCU
$601K 0.13%
59,302
-160,663
-73% -$1.64M
ALDF
114
Aldel Financial II Inc
ALDF
$322M
$597K 0.13%
56,940
-1,004
-2% -$10.5K
GYRO icon
115
Gyrodyne
GYRO
$11.8M
$541K 0.12%
60,000
– –
EGHA
116
EGH Acquisition Corp
EGHA
$212M
$507K 0.11%
50,000
– –
BLRKU
117
Bluerock Acquisition Corp Unit
BLRKU
$500K 0.11%
+50,000
New +$500K
DNMX
118
Dynamix Corp III
DNMX
$495K 0.11%
+50,000
New +$495K
RDAG
119
Republic Digital Acquisition Co
RDAG
$389M
$486K 0.11%
+48,000
New +$492K
SPAQ icon
120
Horizon Kinetics SPAC Active ETF
SPAQ
$10.1M
$447K 0.1%
4,933
– –
CCIX
121
DELISTED
Churchill Capital Corp IX
CCIX
$444K 0.1%
41,730
– –
SPEGU
122
Silver Pegasus Acquisition Corp Unit
SPEGU
$430K 0.1%
41,752
-197,587
-83% -$2.03M
APXT
123
Apex Treasury Corp
APXT
$465M
$425K 0.09%
+43,000
New +$425K
EVAC.U
124
EQV Ventures Acquisition Corp II Units
EVAC.U
$386K 0.09%
38,177
-159,634
-81% -$1.61M
RNGT
125
Range Capital Acquisition Corp II
RNGT
$318M
$369K 0.08%
+37,039
New +$370K
3 4
5
6 7

Similar funds

SGCM
Sand Grove Capital Management London, United Kingdom $444M AUM 131.11% 1-Year Est. Return
WCP
Welch Capital Partners Harrison, New York $444M AUM 21.45% 1-Year Est. Return
FWSM
First Wilshire Securities Management Pasadena, California $444M AUM 42.88% 1-Year Est. Return
TC
TownSquare Capital Provo, Utah $444M AUM 24.03% 1-Year Est. Return
CMP
Coston McIsaac & Partners Bar Harbor, Maine $443M AUM 6.68% 1-Year Est. Return
AC
Almitas Capital Santa Monica, California $443M AUM 42.36% 1-Year Est. Return
EFMC
Empire Financial Management Company New York $442M AUM 24.42% 1-Year Est. Return
DBG
De Burlo Group Boston, Massachusetts $441M AUM 21.21% 1-Year Est. Return

Bulldog Investors's Q4 2025 Portfolio in Review

As of Q4 2025, Bulldog Investors held 258 positions worth $449M, up 3.9% from $432M the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Bulldog Investors deployed $21.7M of net new capital in Q4 2025, opening 61 new positions and adding to 43 existing holdings. Its largest new stake was John Hancock Hedged Equity & Income Fund: 381,764 shares worth $4.1M.

By sector, the portfolio is most concentrated in Financials at 42% of assets, up from 36% a quarter earlier, followed by Industrials and Energy.

On the sell side, the largest reduction was AllianceBernstein National Municipal Income Fund, an estimated $10M trimmed.

  • Bulldog Investors's largest Q4 2025 buy was John Hancock Hedged Equity & Income Fund: 381,764 shares worth $4.1M.
  • Bulldog Investors added most to BNY Mellon Strategic Municipals in Q4 2025, an estimated $4.74M increase.
  • Bulldog Investors's biggest Q4 2025 reduction was AllianceBernstein National Municipal Income Fund, cutting an estimated $10M.
  • Bulldog Investors fully exited Eaton Vance New York Municipal Bond Fund in Q4 2025, selling an estimated $4.77M.
  • Bulldog Investors's ten largest holdings make up 35% of its $449M portfolio in Q4 2025.
  • Bulldog Investors opened 61 new positions and closed 37 in Q4 2025.
  • Bulldog Investors's portfolio value rose 3.9% quarter-over-quarter to $449M.

Based on Bulldog Investors's 13F filing for Q4 2025, filed 13 Feb 2026.