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Barings BDC
BBDC

211 hedge funds and large institutions have $426M invested in Barings BDC in 2025 Q1 according to their latest regulatory filings, with 36 funds opening new positions, 71 increasing their positions, 57 reducing their positions, and 20 closing their positions.

New
Increased
Maintained
Reduced
Closed

80% more first-time investments, than exits

New positions opened: 36 | Existing positions closed: 20

25% more repeat investments, than reductions

Existing positions increased: 71 | Existing positions reduced: 57

7% more funds holding

Funds holding: 198 → 211 (+13)

1% more call options, than puts

Call options by funds: $1.7M | Put options by funds: $1.69M

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

0.33% less ownership

Funds ownership: 42.67% → 42.34% (-0.33%)

52% less capital invested

Capital invested by funds: $882M → $426M (-$456M)

Holders
211
Holders Change
+13
Holders Change %
+6.57%
% of All Funds
2.83%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.03%
New
36
Increased
71
Reduced
57
Closed
20
Calls
$1.7M
Puts
$1.69M
Net Calls
+$19K
Net Calls Change
-$633K

Top Buyers

Rank Fund Capital Flow
1
Two Sigma Advisers
Two Sigma Advisers
New York
+$4.49M
2
UBS Group
UBS Group
Switzerland
+$2.75M
3
Franklin Resources
Franklin Resources
California
+$2.7M
4
Tudor Investment Corp
Tudor Investment Corp
Connecticut
+$2.63M
5
CAM
Cresset Asset Management
Illinois
+$2.28M

Top Sellers

Rank Fund Capital Flow
1
PAIM
Punch & Associates Investment Management
Minnesota
-$11.6M
2
HCA
Harbor Capital Advisors
Illinois
-$7.24M
3
Raymond James Financial
Raymond James Financial
Florida
-$5.97M
4
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
-$1.9M
5
VanEck Associates
VanEck Associates
New York
-$1.72M
Name Holding Trade Value Shares
Change 		Change in
Stake
CCM
26
Callodine Capital Management
Massachusetts
$2.86M – – –
LPL Financial
27
LPL Financial
California
$2.81M +$137K +13,903 +5%
MC
28
Muzinich & Co
New York
$2.51M +$204K +20,680 +9%
Sumitomo Mitsui Trust Group
29
Sumitomo Mitsui Trust Group
Japan
$2.51M +$204K +20,680 +9%
CWMK
30
Caliber Wealth Management (Kansas)
Kansas
$2.3M +$2.38M +241,126 New
Skandinaviska Enskilda Banken (SEB)
31
Skandinaviska Enskilda Banken (SEB)
Sweden
$2.28M – – –
Neuberger Berman Group
32
Neuberger Berman Group
New York
$2.07M -$1.12M -113,228 -34%
Cambridge Investment Research Advisors
33
Cambridge Investment Research Advisors
Iowa
$1.98M -$138K -13,984 -6%
D.E. Shaw & Co
34
D.E. Shaw & Co
New York
$1.64M +$1.57M +158,713 +1,246%
Wealth Enhancement Advisory Services
35
Wealth Enhancement Advisory Services
Minnesota
$1.45M +$697K +70,691 +87%
JP Morgan Chase
36
JP Morgan Chase
New York
$1.44M +$313K +31,775 +27%
TI
37
Trexquant Investment
Connecticut
$1.4M +$180K +18,237 +14%
HighTower Advisors
38
HighTower Advisors
Illinois
$1.34M – – –
DA
39
Denali Advisors
California
$1.32M +$114K +11,546 +9%
CSS
40
Cubist Systematic Strategies
Connecticut
$1.24M +$1.28M +130,042 New
C
41
Cliffwater
California
$1.21M +$70.5K +7,146 +6%
T. Rowe Price Associates
42
T. Rowe Price Associates
Maryland
$1.14M -$1.9M -192,203 -62%
Qube Research & Technologies (QRT)
43
Qube Research & Technologies (QRT)
United Kingdom
$1.03M +$242K +24,519 +29%
IA
44
Icon Advisers
Colorado
$982K -$1.64M -166,351 -62%
Marshall Wace
45
Marshall Wace
United Kingdom
$949K +$461K +46,700 +89%
P
46
&Partners
Tennessee
$942K +$49.3K +5,000 +5%
Canada Life
47
Canada Life
Manitoba, Canada
$870K +$158K +16,060 +21%
Millennium Management
48
Millennium Management
New York
$869K +$530K +53,773 +144%
VIA
49
Virtus Investment Advisers
Connecticut
$848K +$877K +88,934 New
Cetera Investment Advisers
50
Cetera Investment Advisers
Illinois
$720K +$6.42K +651 +0.9%
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BBDC Hedge Fund Activity: Q1 2025 in Review

211 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in Barings BDC (BBDC) for Q1 2025, worth a combined $426M — down 52% from $882M a quarter earlier.

Buyers outnumbered sellers: 36 funds opened new BBDC positions and 20 closed out — a net gain of 16 holders — while 71 added to existing stakes and 57 trimmed.

The largest buyer was Two Sigma Advisers, adding an estimated $4.49M. The largest seller was Punch & Associates Investment Management, exiting entirely with an estimated $11.6M sold.

  • 211 institutional investors held Barings BDC (BBDC) as of Q1 2025, up from 198 in Q4 2024.
  • Funds reported $426M of Barings BDC stock for Q1 2025, down 52% quarter-over-quarter.
  • 36 funds opened new Barings BDC positions in Q1 2025 and 20 closed out, a net change of +16 holders.
  • The largest Barings BDC buyer in Q1 2025 was Two Sigma Advisers, an estimated $4.49M added.
  • The largest Barings BDC seller in Q1 2025 was Punch & Associates Investment Management, an estimated $11.6M sold.

Based on aggregated 13F filings for Q1 2025.