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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
CA
51
Claro Advisors
Massachusetts
$254K +$248K +16,750 New
HH
52
Hilltop Holdings
Texas
$182K – – –
OC
53
Oppenheimer & Co
New York
$180K -$119 -8 -0.1%
DADC
54
D.A. Davidson & Co
Montana
$168K – – –
First Trust Advisors
55
First Trust Advisors
Illinois
$165K +$161K +10,876 New
SPIA
56
Steward Partners Investment Advisory
New York
$162K -$29.1K -1,962 -15%
JSW
57
Journey Strategic Wealth
New Jersey
$151K – – –
BlackRock
58
BlackRock
New York
$119K +$42.7K +2,881 +58%
CWC
59
Carolinas Wealth Consulting
North Carolina
$89.1K – – –
VCM
60
Versant Capital Management
Arizona
$75.7K +$74.1K +5,000 New
AIM
61
Anchor Investment Management
South Carolina
$37.9K – – –
WT
62
Washington Trust
Rhode Island
$30.3K – – –
BBPWM
63
Blue Bell Private Wealth Management
Pennsylvania
$24.3K -$166K -11,233 -88%
First Manhattan
64
First Manhattan
New York
$21.1K – – –
FCMT
65
Founders Capital Management (Texas)
Texas
$14K – – –
CAM
66
Chesapeake Asset Management
New York
$7.57K +$7.41K +500 New
SCA
67
Stonebridge Capital Advisors
Minnesota
$7.57K +$7.41K +500 New
ME
68
McIlrath & Eck
Washington
$4.24K – – –
EC
69
Elequin Capital
New York
$3.39K -$1.14M -77,248 -100%
Commonwealth Equity Services
70
Commonwealth Equity Services
Massachusetts
$3.24K +$959K +64,722 +43%
Northwestern Mutual Wealth Management
71
Northwestern Mutual Wealth Management
Wisconsin
$2.53K +$2.48K +167 New
EWA
72
EverSource Wealth Advisors
Alabama
$2.45K – – –
AC
73
Almitas Capital
California
– -$12.8M -925,786 Closed
LSC
74
Logan Stone Capital
Illinois
– -$5.92M -426,871 Closed
WAM
75
Wolverine Asset Management
Illinois
– -$5.1M -367,418 Closed
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.