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BlackRock Capital Allocation Term Trust
BCAT

72 hedge funds and large institutions have $501M invested in BlackRock Capital Allocation Term Trust in 2023 Q1 according to their latest regulatory filings, with 10 funds opening new positions, 30 increasing their positions, 14 reducing their positions, and 21 closing their positions.

New
Increased
Maintained
Reduced
Closed

114% more repeat investments, than reductions

Existing positions increased: 30 | Existing positions reduced: 14

11% more capital invested

Capital invested by funds: $453M → $501M (+$47.7M)

0.55% more ownership

Funds ownership: 29.13% → 29.68% (+0.55%)

15% less funds holding

Funds holding: 85 → 72 (-13)

50% less funds holding in top 10

Funds holding in top 10: 4 → 2 (-2)

52% less first-time investments, than exits

New positions opened: 10 | Existing positions closed: 21

Holders
72
Holders Change
-13
Holders Change %
-15.29%
% of All Funds
1.15%
Holding in Top 10
2
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-50%
% of All Funds
0.03%
New
10
Increased
30
Reduced
14
Closed
21
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
SCM
Saba Capital Management
New York
+$25.2M
2
Morgan Stanley
Morgan Stanley
New York
+$5.91M
3
WP
Woodline Partners
California
+$3.09M
4
UBS Group
UBS Group
Switzerland
+$1.93M
5
TJHA
Thomas J. Herzfeld Advisors
Florida
+$1.24M

Top Sellers

Rank Fund Capital Flow
1
AC
Almitas Capital
California
-$12.8M
2
LSC
Logan Stone Capital
Illinois
-$5.92M
3
WAM
Wolverine Asset Management
Illinois
-$5.1M
4
WAM
Weiss Asset Management
Massachusetts
-$3.74M
5
RVPG
Relative Value Partners Group
-$1.28M
Name Holding Trade Value Shares
Change 		Change in
Stake
LPL Financial
26
LPL Financial
California
$1.63M +$850K +57,368 +115%
CPRC
27
Consolidated Portfolio Review Corp
New York
$1.57M +$1.54M +103,797 New
Osaic Holdings
28
Osaic Holdings
Arizona
$1.34M +$29.8K +2,014 +2%
PFGIA
29
Patriot Financial Group Insurance Agency
Massachusetts
$1.01M +$3.9K +263 +0.4%
MC
30
Matisse Capital
Oregon
$994K – – –
TCA
31
Transcend Capital Advisors
New Jersey
$779K +$319K +21,532 +72%
Ameriprise
32
Ameriprise
Minnesota
$715K -$28.3K -1,913 -4%
Cerity Partners
33
Cerity Partners
New York
$613K – – –
Baird Financial Group
34
Baird Financial Group
Wisconsin
$530K -$22.2K -1,501 -4%
ARG
35
Advisory Resource Group
Oklahoma
$526K – – –
Qube Research & Technologies (QRT)
36
Qube Research & Technologies (QRT)
United Kingdom
$515K +$249K +16,828 +98%
Invesco
37
Invesco
Georgia
$514K +$253K +17,088 +101%
RJT
38
Raymond James Trust
Florida
$439K +$29.6K +2,000 +7%
CA
39
Calton & Associates
Florida
$405K +$1.91K +129 +0.5%
CP
40
Camelot Portfolios
Ohio
$401K +$14.8K +1,000 +4%
CAN
41
Cetera Advisor Networks
California
$373K +$163 +11 +0%
SIA
42
Sit Investment Associates
Minnesota
$360K – – –
KIM
43
Karpus Investment Management
New York
$340K -$299K -20,185 -47%
Janney Montgomery Scott
44
Janney Montgomery Scott
Pennsylvania
$339K +$22.6K +1,527 +7%
SIA
45
SkyView Investment Advisors
New Jersey
$339K +$331K +22,368 New
RJFSA
46
Raymond James Financial Services Advisors
Florida
$339K -$17.3K -1,167 -5%
ASN
47
Advisory Services Network
Georgia
$308K – – –
CAPTRUST Financial Advisors
48
CAPTRUST Financial Advisors
North Carolina
$298K +$292K +19,700 New
IAA
49
Ironsides Asset Advisors
North Carolina
$297K – – –
IAS
50
Insigneo Advisory Services
Florida
$271K +$21K +1,419 +10%
1
2
3 4

BCAT Hedge Fund Activity: Q1 2023 in Review

72 of the 6,276 institutional investors tracked by Wall St. Rank reported a position in BlackRock Capital Allocation Term Trust (BCAT) for Q1 2023, worth a combined $501M — up 11% from $453M a quarter earlier.

Sellers outnumbered buyers: 21 funds closed out of BCAT and 10 opened new positions — a net loss of 11 holders — while 14 trimmed existing stakes and 30 added.

The largest buyer was Saba Capital Management, adding an estimated $25.2M. The largest seller was Almitas Capital, exiting entirely with an estimated $12.8M sold.

  • 72 institutional investors held BlackRock Capital Allocation Term Trust (BCAT) as of Q1 2023, down from 85 in Q4 2022.
  • Funds reported $501M of BlackRock Capital Allocation Term Trust stock for Q1 2023, up 11% quarter-over-quarter.
  • 10 funds opened new BlackRock Capital Allocation Term Trust positions in Q1 2023 and 21 closed out, a net change of -11 holders.
  • The largest BlackRock Capital Allocation Term Trust buyer in Q1 2023 was Saba Capital Management, an estimated $25.2M added.
  • The largest BlackRock Capital Allocation Term Trust seller in Q1 2023 was Almitas Capital, an estimated $12.8M sold.

Based on aggregated 13F filings for Q1 2023.