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BlackRock Capital Allocation Term Trust
BCAT

94 hedge funds and large institutions have $291M invested in BlackRock Capital Allocation Term Trust in 2025 Q3 according to their latest regulatory filings, with 14 funds opening new positions, 41 increasing their positions, 18 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

128% more repeat investments, than reductions

Existing positions increased: 41 | Existing positions reduced: 18

27% more first-time investments, than exits

New positions opened: 14 | Existing positions closed: 11

3% more funds holding

Funds holding: 91 → 94 (+3)

5.27% less ownership

Funds ownership: 23.55% → 18.28% (-5.3%)

24% less capital invested

Capital invested by funds: $383M → $291M (-$92.5M)

100% less funds holding in top 10

Funds holding in top 10: 1 → 0 (-1)

Holders
94
Holders Change
+3
Holders Change %
+3.3%
% of All Funds
1.23%
Holding in Top 10
–
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-100%
% of All Funds
–
New
14
Increased
41
Reduced
18
Closed
11
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$10.1M
2
Wells Fargo
Wells Fargo
California
+$9.31M
3
PCM
Penserra Capital Management
California
+$1.98M
4
Cohen & Steers
Cohen & Steers
New York
+$1.67M
5
LPL Financial
LPL Financial
California
+$1.53M

Top Sellers

Rank Fund Capital Flow
1
SCM
Saba Capital Management
New York
-$101M
2
RCM
Rivernorth Capital Management
Florida
-$4.51M
3
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$4.31M
4
UBS Group
UBS Group
Switzerland
-$2.97M
5
PIWA
Prevail Innovative Wealth Advisors
Kansas
-$1.66M
Name Holding Trade Value Shares
Change 		Change in
Stake
IAS
51
Insigneo Advisory Services
Florida
$257K +$29.9K +2,000 +13%
PCG
52
Prosperity Consulting Group
Maryland
$250K +$253K +16,906 New
PFGIA
53
Patriot Financial Group Insurance Agency
Massachusetts
$246K – – –
WS
54
Wedbush Securities
California
$240K +$55.4K +3,700 +30%
WCFA
55
Walkner Condon Financial Advisors
Wisconsin
$240K – – –
P
56
&Partners
Tennessee
$238K +$3.49K +233 +1%
NA
57
NewEdge Advisors
Louisiana
$238K +$10.8K +724 +5%
HighTower Advisors
58
HighTower Advisors
Illinois
$232K +$42.9K +2,868 +22%
BCM
59
Boreal Capital Management
Florida
$232K – – –
SFS
60
Shaker Financial Services
Virginia
$229K +$232K +15,500 New
Lido Advisors
61
Lido Advisors
California
$199K +$201K +13,446 New
CPRC
62
Consolidated Portfolio Review Corp
New York
$188K -$86.5K -5,780 -31%
CSP
63
Cary Street Partners
Virginia
$182K – – –
CL
64
Choreo LLC
Illinois
$179K +$181K +12,132 New
ASN
65
Advisory Services Network
Georgia
$172K +$3.38K +226 +2%
Mariner
66
Mariner
Kansas
$168K +$170K +11,353 New
Creative Planning
67
Creative Planning
Kansas
$165K +$167K +11,183 New
PAG
68
Private Advisor Group
New Jersey
$164K +$7.24K +484 +5%
Comerica Bank
69
Comerica Bank
Texas
$163K +$1.36K +91 +0.8%
BRWA
70
B. Riley Wealth Advisors
Florida
$151K +$153K +10,199 New
HIP
71
HUB Investment Partners
Texas
$148K – – –
JSW
72
Journey Strategic Wealth
New Jersey
$148K – – –
BlackRock
73
BlackRock
New York
$134K -$299K -20,007 -69%
SPIA
74
Steward Partners Investment Advisory
New York
$113K +$13.3K +888 +13%
BBHC
75
Brown Brothers Harriman & Co
New York
$81.3K +$67.3K +4,500 +450%
1 2
3
4 5

BCAT Hedge Fund Activity: Q3 2025 in Review

94 of the 7,621 institutional investors tracked by Wall St. Rank reported a position in BlackRock Capital Allocation Term Trust (BCAT) for Q3 2025, worth a combined $291M — down 24% from $383M a quarter earlier.

Buyers outnumbered sellers: 14 funds opened new BCAT positions and 11 closed out — a net gain of 3 holders — while 41 added to existing stakes and 18 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $10.1M. The largest seller was Saba Capital Management, cutting an estimated $101M.

  • 94 institutional investors held BlackRock Capital Allocation Term Trust (BCAT) as of Q3 2025, up from 91 in Q2 2025.
  • Funds reported $291M of BlackRock Capital Allocation Term Trust stock for Q3 2025, down 24% quarter-over-quarter.
  • 14 funds opened new BlackRock Capital Allocation Term Trust positions in Q3 2025 and 11 closed out, a net change of +3 holders.
  • The largest BlackRock Capital Allocation Term Trust buyer in Q3 2025 was Morgan Stanley, an estimated $10.1M added.
  • The largest BlackRock Capital Allocation Term Trust seller in Q3 2025 was Saba Capital Management, an estimated $101M sold.

Based on aggregated 13F filings for Q3 2025.