Barings BDC
BBDC
198 hedge funds and large institutions have $413M invested in Barings BDC in 2025 Q2 according to their latest regulatory filings, with 25 funds opening new positions, 78 increasing their positions, 57 reducing their positions, and 38 closing their positions.
546% more call options, than puts
Call options by funds: $749K | Put options by funds: $116K
37% more repeat investments, than reductions
Existing positions increased: 78 | Existing positions reduced: 57
29% more capital inflows, than outflows
Capital inflows: $29.8M | Capital outflows: $23.1M
0.51% more ownership
Funds ownership: 42.34% → 42.85% (+0.51%)
0% more funds holding in top 10
Funds holding in top 10: 2 → 2 (0)
7% less funds holding
Funds holding: 213 → 198 (-15)
34% less first-time investments, than exits
New positions opened: 25 | Existing positions closed: 38
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Rivernorth Capital Management
West Palm Beach,
Florida
|
+$3.66M |
| 2 |
UBS Group
Zurich,
Switzerland
|
+$2.94M |
| 3 |
Steel Grove Capital Advisors
Memphis,
Tennessee
|
+$2.65M |
| 4 |
Bulldog Investors
Saddle Brook,
New Jersey
|
+$1.87M |
| 5 |
Ares Management
Los Angeles,
California
|
+$1.69M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Two Sigma Advisers
New York
|
-$1.94M |
| 2 |
D.E. Shaw & Co
New York
|
-$1.64M |
| 3 |
Two Sigma Investments
New York
|
-$1.51M |
| 4 |
Cubist Systematic Strategies
Stamford,
Connecticut
|
-$1.24M |
| 5 |
Hennion & Walsh Asset Management
Parsippany,
New Jersey
|
-$1.18M |
BBDC Hedge Fund Activity: Q2 2025 in Review
198 of the 7,627 institutional investors tracked by Wall St. Rank reported a position in Barings BDC (BBDC) for Q2 2025, worth a combined $413M — down 3% from $426M a quarter earlier.
Sellers outnumbered buyers: 38 funds closed out of BBDC and 25 opened new positions — a net loss of 13 holders — while 57 trimmed existing stakes and 78 added.
The largest buyer was Rivernorth Capital Management, opening a new position worth an estimated $3.66M. The largest seller was Two Sigma Advisers, cutting an estimated $1.94M.
- 198 institutional investors held Barings BDC (BBDC) as of Q2 2025, down from 213 in Q1 2025.
- Funds reported $413M of Barings BDC stock for Q2 2025, down 3% quarter-over-quarter.
- 25 funds opened new Barings BDC positions in Q2 2025 and 38 closed out, a net change of -13 holders.
- The largest Barings BDC buyer in Q2 2025 was Rivernorth Capital Management, an estimated $3.66M added.
- The largest Barings BDC seller in Q2 2025 was Two Sigma Advisers, an estimated $1.94M sold.
Based on aggregated 13F filings for Q2 2025.