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Bulldog Investors Portfolio holdings

AUM $445M
1-Year Est. Return 2.55%
This Fund
S&P 500
This Quarter Est. Return
+3.92%
1 Year Est. Return
+2.55%
3 Year Est. Return
+20.9%
5 Year Est. Return
+21%
10 Year Est. Return
+76.48%
AUM
$396M
AUM Growth
+$26M
Cap. Flow
+$16.1M
Cap. Flow %
4.06%
Top 10 Hldgs %
37.98%
Holding
203
New
61
Increased
30
Reduced
51
Closed
32

Top Buys

Rank Stock Value
1
CET
Central Securities Corp
CET
+$5.08M
2
ALX
Alexander's
ALX
+$4.53M
3
CCAP icon
Crescent Capital BDC
CCAP
+$4.46M
4
TRC icon
Tejon Ranch
TRC
+$4.29M
5
LEO
BNY Mellon Strategic Municipals
LEO
+$3.59M

Top Sells

Rank Stock Value
1
DMF
BNY Mellon Municipal Income
DMF
+$11.5M
2
HYAC
Haymaker Acquisition Corp 4
HYAC
+$7.22M
3
AAM
AA Mission Acquisition Corp
AAM
+$5.25M
4
CEP
Cantor Equity Partners
CEP
+$3.98M
5
VACH
Voyager Acquisition Corp
VACH
+$3.97M

Sector Composition

Rank Sector Weight
1 Financials 31.04%
2 Industrials 4.51%
3 Energy 3.45%
4 Consumer Discretionary 3%
5 Real Estate 1.4%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
STEW
1
SRH Total Return Fund
STEW
$1.81B
$19.8M 5%
1,117,582
-97,128
-8% -$1.67M
GAM
2
General American Investors Company
GAM
$1.59B
$19.2M 4.85%
342,110
– –
CET
3
Central Securities Corp
CET
$1.63B
$17.6M 4.45%
368,084
+111,988
+44% +$5.08M
NBXG
4
Neuberger Next Generation Connectivity Fund Inc
NBXG
$1.21B
$16.6M 4.19%
1,134,288
+236,457
+26% +$3.03M
CION icon
5
CION Investment
CION
$315M
$14.7M 3.72%
1,538,071
-156,375
-9% -$1.49M
DSM
6
BNY Mellon Strategic Municipal Bond Fund
DSM
$288M
$14.5M 3.68%
2,596,631
+69,204
+3% +$388K
TRC icon
7
Tejon Ranch
TRC
$451M
$13.4M 3.39%
789,999
+260,000
+49% +$4.29M
AFB
8
AllianceBernstein National Municipal Income Fund
AFB
$314M
$12M 3.03%
1,164,190
+75,342
+7% +$776K
CNNE icon
9
Cannae Holdings
CNNE
$649M
$11.3M 2.85%
540,987
+160,000
+42% +$2.96M
RWAY icon
10
Runway Growth Finance
RWAY
$243M
$11.2M 2.82%
1,040,313
+245,007
+31% +$2.37M
TPL icon
11
Texas Pacific Land
TPL
$27.5B
$9.4M 2.38%
26,700
+2,700
+11% +$1.1M
CMU
12
DELISTED
MFS High Yield Municipal Trust
CMU
$8.89M 2.25%
2,671,037
+45,521
+2% +$153K
IIF
13
Morgan Stanley India Investment Fund
IIF
$220M
$8.41M 2.13%
297,889
+12,060
+4% +$315K
GDV icon
14
Gabelli Dividend & Income Trust
GDV
$2.65B
$7.83M 1.98%
301,028
-200
-0.1% -$4.82K
DRDB
15
Roman DBDR Acquisition Corp II
DRDB
$327M
$7.1M 1.79%
688,537
+193,537
+39% +$1.97M
CXH
16
DELISTED
MFS Investment Grade Municipal Trust
CXH
$6.84M 1.73%
895,891
+36,583
+4% +$279K
GF
17
New Germany Fund
GF
$187M
$5.89M 1.49%
493,479
+46,966
+11% +$510K
KDK
18
Kodiak AI
KDK
$883M
$5.43M 1.37%
479,272
-19,697
-4% -$222K
LPAA
19
Launch One Acquisition Corp
LPAA
$80.8M
$5.36M 1.36%
514,888
-29,786
-5% -$308K
CUB
20
Lionheart Holdings
CUB
$284M
$5.09M 1.29%
484,947
-28,355
-6% -$295K
ENX
21
DELISTED
Eaton Vance New York Municipal Bond Fund
ENX
$4.86M 1.23%
522,790
-19,681
-4% -$183K
ALX
22
Alexander's
ALX
$1.38B
$4.74M 1.2%
+21,041
New +$4.53M
BTX
23
BlackRock Technology and Private Equity Term Trust
BTX
$1B
$4.48M 1.13%
610,207
+117,875
+24% +$779K
LRFC
24
DELISTED
Logan Ridge Finance Corp
LRFC
$4.44M 1.12%
233,549
-6,730
-3% -$122K
SIMA
25
SIM Acquisition Corp I
SIMA
$89.9M
$4.39M 1.11%
420,798
-16,008
-4% -$165K
1
2 3 4 5

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RWM
Rialto Wealth Management Syracuse, New York $445M AUM 15.58% 1-Year Est. Return
WC
Weil Company San Diego, California $445M AUM 14.95% 1-Year Est. Return
AFA
Abacus FCF Advisors Orlando, Florida $444M AUM 44.44% 1-Year Est. Return
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
ACA
Aspire Capital Advisors Seattle, Washington $444M AUM 16.47% 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

Bulldog Investors's Q2 2025 Portfolio in Review

As of Q2 2025, Bulldog Investors held 203 positions worth $396M, up 7% from $370M the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Bulldog Investors deployed $16.1M of net new capital in Q2 2025, opening 61 new positions and adding to 30 existing holdings. Its largest new stake was Alexander's: 21,041 shares worth $4.74M.

By sector, the portfolio is most concentrated in Financials at 31% of assets, down from 37% a quarter earlier, followed by Industrials and Energy.

On the sell side, the largest reduction was Tortoise Energy Infrastructure Corp, an estimated $3.49M trimmed.

  • Bulldog Investors's largest Q2 2025 buy was Alexander's: 21,041 shares worth $4.74M.
  • Bulldog Investors added most to Central Securities Corp in Q2 2025, an estimated $5.08M increase.
  • Bulldog Investors's biggest Q2 2025 reduction was Tortoise Energy Infrastructure Corp, cutting an estimated $3.49M.
  • Bulldog Investors fully exited BNY Mellon Municipal Income in Q2 2025, selling an estimated $11.5M.
  • Bulldog Investors's ten largest holdings make up 38% of its $396M portfolio in Q2 2025.
  • Bulldog Investors opened 61 new positions and closed 32 in Q2 2025.
  • Bulldog Investors's portfolio value rose 7% quarter-over-quarter to $396M.

Based on Bulldog Investors's 13F filing for Q2 2025, filed 14 Aug 2025.