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BI

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
SBXD.WS
201
SilverBox Corp IV Warrants
SBXD.WS
$16.5K ﹤0.01%
58,997
-718
-1% -$262
ALDFW
202
Aldel Financial II Inc Warrants
ALDFW
$15.7K ﹤0.01%
28,470
-502
-2% -$294
LPBBW
203
Launch Two Acquisition Corp Warrant
LPBBW
$15.6K ﹤0.01%
49,419
-60,211
-55% -$26.7K
CHPGR
204
ChampionsGate Acquisition Corp Rights
CHPGR
$15K ﹤0.01%
100,000
– –
UCFIW
205
CN Healthy Food Tech Group Warrant
UCFIW
$14.7K ﹤0.01%
60,679
-4,593
-7% -$413
BLUWW
206
Blue Water Acquisition Corp III Warrant
BLUWW
$14.4K ﹤0.01%
27,164
-27,427
-50% -$9.5K
RDAGW
207
Republic Digital Acquisition Co Warrants
RDAGW
$13.9K ﹤0.01%
+23,996
New +$16.5K
TACOW
208
Berto Acquisition Corp Warrant
TACOW
$16.5M
$12.8K ﹤0.01%
34,577
– –
FIGXW
209
FIGX Capital Acquisition Corp Warrant
FIGXW
$12.5K ﹤0.01%
+50,045
New +$13.8K
EGHAR
210
EGH Acquisition Corp Rights
EGHAR
$12.5K ﹤0.01%
50,000
– –
MBVIW
211
M3-Brigade Acquisition VI Corp Warrant
MBVIW
$12.3K ﹤0.01%
+33,332
New +$17.2K
COPL.WS
212
Copley Acquisition Corp Warrants
COPL.WS
$8.56K ﹤0.01%
50,000
– –
DNMXW
213
Dynamix Corp III Warrants
DNMXW
$2.52M
$8K ﹤0.01%
+25,000
New +$9.42K
APXTW
214
Apex Treasury Corp Warrants
APXTW
$5.86M
$6.45K ﹤0.01%
+21,500
New +$6.54K
RNGTW
215
Range Capital Acquisition Corp II Warrants
RNGTW
$3.9M
$5.37K ﹤0.01%
+18,516
New +$7.54K
YHNAR
216
YHN Acquisition I Ltd Right
YHNAR
$3.95K ﹤0.01%
32,901
-3,022
-8% -$463
GTERR
217
Globa Terra Acquisition Corp Rights
GTERR
$2.85K ﹤0.01%
+21,870
New +$3.49K
GTERW
218
Globa Terra Acquisition Corp Warrants
GTERW
$2.06K ﹤0.01%
+16,399
New +$2.85K
AAM.WS
219
DELISTED
AA Mission Acquisition Corp Warrants
AAM.WS
$1.73K ﹤0.01%
10,177
-218,386
-96% -$42.5K
CEE
220
Central and Eastern Europe Fund
CEE
$140M
– –
-72,345
Closed -$1.11M
HERZ
221
Herzfeld Credit Income Fund
HERZ
$32.4M
– –
-1,757
Closed -$41.8K
ENX
222
DELISTED
Eaton Vance New York Municipal Bond Fund
ENX
– –
-484,023
Closed -$4.77M
HYAC
223
DELISTED
Haymaker Acquisition Corp 4
HYAC
– –
-14,625
Closed -$166K
HYAC.WS
224
DELISTED
Haymaker Acquisition Corp 4 Warrants
HYAC.WS
– –
-21,039
Closed -$8.42K
KTF
225
DWS Municipal Income Trust
KTF
$353M
– –
-92,604
Closed -$849K
7 8
9
10 11

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FWSM
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TC
TownSquare Capital Provo, Utah $444M AUM 24.03% 1-Year Est. Return
AC
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EFMC
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DBG
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POEH
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BOA
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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.