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Barings BDC
BBDC

95 hedge funds and large institutions have $261M invested in Barings BDC in 2018 Q2 according to their latest regulatory filings, with 18 funds opening new positions, 12 increasing their positions, 43 reducing their positions, and 30 closing their positions.

New
Increased
Maintained
Reduced
Closed

210% more call options, than puts

Call options by funds: $972K | Put options by funds: $314K

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

1% less capital invested

Capital invested by funds: $265M → $261M (-$3.98M)

2.34% less ownership

Funds ownership: 49.66% → 47.33% (-2.3%)

11% less funds holding

Funds holding: 107 → 95 (-12)

40% less first-time investments, than exits

New positions opened: 18 | Existing positions closed: 30

72% less repeat investments, than reductions

Existing positions increased: 12 | Existing positions reduced: 43

Holders
95
Holders Change
-12
Holders Change %
-11.21%
% of All Funds
2.17%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.05%
New
18
Increased
12
Reduced
43
Closed
30
Calls
$972K
Puts
$314K
Net Calls
+$658K
Net Calls Change
+$1.15M

Top Buyers

1
RCM
Rivernorth Capital Management
Florida
+$15.9M
2
Brown Advisory
Brown Advisory
Maryland
+$13.4M
3
WAM
Weiss Asset Management
Massachusetts
+$10.1M
4
BI
Bulldog Investors
New Jersey
+$9.23M
5
CIM
Confluence Investment Management
Missouri
+$4.96M

Top Sellers

1
MC
Muzinich & Co
New York
-$13.3M
2
CLM
ClearBridge LLC (Maryland)
Maryland
-$11.3M
3
CS
Credit Suisse
Switzerland
-$7.04M
4
Wells Fargo
Wells Fargo
California
-$6.67M
5
IP
Ironsides Partners
Massachusetts
-$3.67M
Name Holding Trade Value Shares
Change 		Change in
Stake
T. Rowe Price Associates
1
T. Rowe Price Associates
Maryland
$46.3M -$3.23M -281,639 -7%
State of New Jersey Common Pension Fund D
2
State of New Jersey Common Pension Fund D
New Jersey
$21.9M – – –
Citadel Advisors
3
Citadel Advisors
Florida
$19.1M +$224K +19,544 +1%
RCM
4
Rivernorth Capital Management
Florida
$15.9M +$15.9M +1,384,049 New
Brown Advisory
5
Brown Advisory
Maryland
$13.6M +$13.4M +1,171,104 +10,813%
UBS Group
6
UBS Group
Switzerland
$12.3M +$341K +29,758 +3%
CIM
7
Confluence Investment Management
Missouri
$11.5M +$4.96M +433,060 +76%
AM
8
Ares Management
California
$10.8M – – –
WAM
9
Weiss Asset Management
Massachusetts
$10.1M +$10.1M +877,665 New
BI
10
Bulldog Investors
New Jersey
$9.26M +$9.23M +805,281 New
MC
11
Muzinich & Co
New York
$8.87M -$13.3M -1,158,673 -60%
PFMOSF
12
Philadelphia Financial Management of San Francisco
California
$7.74M +$598K +52,215 +8%
MVP
13
Miller Value Partners
Florida
$5.95M – – –
Deutsche Bank
14
Deutsche Bank
Germany
$5.06M -$183K -15,932 -3%
GIM
15
Greenwich Investment Management
Connecticut
$4.5M -$110K -9,635 -2%
GC
16
Guggenheim Capital
Illinois
$4.48M -$1.01M -88,297 -18%
VanEck Associates
17
VanEck Associates
New York
$4.15M +$70.6K +6,162 +2%
Bank of Montreal
18
Bank of Montreal
Ontario, Canada
$3.63M – – –
Wells Fargo
19
Wells Fargo
California
$3.59M -$6.67M -582,249 -65%
IP
20
Ironsides Partners
Massachusetts
$3.45M -$3.67M -320,000 -52%
MCM
21
McKinley Capital Management
Alaska
$2.94M +$274K +23,876 +10%
BlackRock
22
BlackRock
New York
$2.46M -$566K -49,359 -19%
Legal & General Group
23
Legal & General Group
United Kingdom
$2.09M +$115K +10,066 +6%
RVPG
24
Relative Value Partners Group
$2.02M +$2.01M +175,237 New
MCP
25
Moab Capital Partners
New York
$1.88M +$1.88M +163,824 New
1
2 3 4 5

BBDC Hedge Fund Activity: Q2 2018 in Review

95 of the 4,368 institutional investors tracked by Wall St. Rank reported a position in Barings BDC (BBDC) for Q2 2018, worth a combined $261M — down 1.5% from $265M a quarter earlier.

Sellers outnumbered buyers: 30 funds closed out of BBDC and 18 opened new positions — a net loss of 12 holders — while 43 trimmed existing stakes and 12 added.

The largest buyer was Rivernorth Capital Management, opening a new position worth an estimated $15.9M. The largest seller was Muzinich & Co, cutting an estimated $13.3M.

  • 95 institutional investors held Barings BDC (BBDC) as of Q2 2018, down from 107 in Q1 2018.
  • Funds reported $261M of Barings BDC stock for Q2 2018, down 1.5% quarter-over-quarter.
  • 18 funds opened new Barings BDC positions in Q2 2018 and 30 closed out, a net change of -12 holders.
  • The largest Barings BDC buyer in Q2 2018 was Rivernorth Capital Management, an estimated $15.9M added.
  • The largest Barings BDC seller in Q2 2018 was Muzinich & Co, an estimated $13.3M sold.

Based on aggregated 13F filings for Q2 2018.