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BlackRock Capital Allocation Term Trust
BCAT

91 hedge funds and large institutions have $383M invested in BlackRock Capital Allocation Term Trust in 2025 Q2 according to their latest regulatory filings, with 15 funds opening new positions, 33 increasing their positions, 24 reducing their positions, and 15 closing their positions.

New
Increased
Maintained
Reduced
Closed

38% more repeat investments, than reductions

Existing positions increased: 33 | Existing positions reduced: 24

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

0% more first-time investments, than exits

New positions opened: 15 | Existing positions closed: 15

1% less funds holding

Funds holding: 92 → 91 (-1)

3.81% less ownership

Funds ownership: 27.36% → 23.55% (-3.8%)

10% less capital invested

Capital invested by funds: $425M → $383M (-$42.1M)

Holders
91
Holders Change
-1
Holders Change %
-1.09%
% of All Funds
1.2%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.01%
New
15
Increased
33
Reduced
24
Closed
15
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Wells Fargo
Wells Fargo
California
+$14M
2
Cohen & Steers
Cohen & Steers
New York
+$2.34M
3
Bank of America
Bank of America
North Carolina
+$1.7M
4
Jane Street
Jane Street
New York
+$1.44M
5
Raymond James Financial
Raymond James Financial
Florida
+$1.33M

Top Sellers

Rank Fund Capital Flow
1
SCM
Saba Capital Management
New York
-$58.5M
2
RCM
Rivernorth Capital Management
Florida
-$16M
3
Morgan Stanley
Morgan Stanley
New York
-$5.39M
4
Pathstone Holdings
Pathstone Holdings
New Jersey
-$2.22M
5
Commonwealth Equity Services
Commonwealth Equity Services
Massachusetts
-$1.98M
Name Holding Trade Value Shares
Change 		Change in
Stake
ERIC
51
Eagle Rock Investment Company
Georgia
$271K – – –
PFGIA
52
Patriot Financial Group Insurance Agency
Massachusetts
$252K – – –
WCFA
53
Walkner Condon Financial Advisors
Wisconsin
$245K – – –
P
54
&Partners
Tennessee
$241K -$5.02K -344 -2%
BCM
55
Boreal Capital Management
Florida
$238K +$229K +15,695 New
PSP
56
Principal Street Partners
Tennessee
$237K +$229K +15,660 New
NA
57
NewEdge Advisors
Louisiana
$233K +$225K +15,376 New
IAS
58
Insigneo Advisory Services
Florida
$233K -$3.65K -250 -2%
D.E. Shaw & Co
59
D.E. Shaw & Co
New York
$214K – – –
HighTower Advisors
60
HighTower Advisors
Illinois
$194K +$6.29K +431 +3%
WS
61
Wedbush Securities
California
$190K -$2.51K -172 -1%
CSP
62
Cary Street Partners
Virginia
$186K – – –
ASN
63
Advisory Services Network
Georgia
$170K +$167K +11,412 New
HH
64
Hilltop Holdings
Texas
$168K +$162K +11,100 New
SWM
65
SeaCrest Wealth Management
New York
$166K +$160K +10,961 New
Comerica Bank
66
Comerica Bank
Texas
$165K +$1.59K +109 +1%
PAG
67
Private Advisor Group
New Jersey
$161K – – –
Janney Montgomery Scott
68
Janney Montgomery Scott
Pennsylvania
$154K -$73K -5,000 -33%
JSW
69
Journey Strategic Wealth
New Jersey
$151K -$14.6K -1,000 -9%
HIP
70
HUB Investment Partners
Texas
$151K -$6.63K -454 -4%
SPIA
71
Steward Partners Investment Advisory
New York
$102K -$45.1K -3,086 -31%
AssetMark Inc
72
AssetMark Inc
California
$80K – – –
ACM
73
Anfield Capital Management
California
$55.6K – – –
PTC
74
Private Trust Company
Ohio
$53K – – –
NS
75
NBC Securities
Alabama
$46K +$862 +59 +2%
1 2
3
4 5

BCAT Hedge Fund Activity: Q2 2025 in Review

91 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in BlackRock Capital Allocation Term Trust (BCAT) for Q2 2025, worth a combined $383M — down 9.9% from $425M a quarter earlier.

Fund positioning in BCAT was balanced in Q2 2025: 15 funds opened new positions, 15 closed out, 33 added to existing stakes and 24 trimmed.

The largest buyer was Wells Fargo, adding an estimated $14M. The largest seller was Saba Capital Management, cutting an estimated $58.5M.

  • 91 institutional investors held BlackRock Capital Allocation Term Trust (BCAT) as of Q2 2025, down from 92 in Q1 2025.
  • Funds reported $383M of BlackRock Capital Allocation Term Trust stock for Q2 2025, down 9.9% quarter-over-quarter.
  • 15 funds opened new BlackRock Capital Allocation Term Trust positions in Q2 2025 and 15 closed out, a net change of 0 holders.
  • The largest BlackRock Capital Allocation Term Trust buyer in Q2 2025 was Wells Fargo, an estimated $14M added.
  • The largest BlackRock Capital Allocation Term Trust seller in Q2 2025 was Saba Capital Management, an estimated $58.5M sold.

Based on aggregated 13F filings for Q2 2025.