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BlackRock Capital Allocation Term Trust
BCAT

106 hedge funds and large institutions have $301M invested in BlackRock Capital Allocation Term Trust in 2025 Q4 according to their latest regulatory filings, with 21 funds opening new positions, 36 increasing their positions, 30 reducing their positions, and 9 closing their positions.

New
Increased
Maintained
Reduced
Closed

133% more first-time investments, than exits

New positions opened: 21 | Existing positions closed: 9

20% more repeat investments, than reductions

Existing positions increased: 36 | Existing positions reduced: 30

13% more funds holding

Funds holding: 94 → 106 (+12)

1.5% more ownership

Funds ownership: 18.28% → 19.79% (+1.5%)

4% more capital invested

Capital invested by funds: $291M → $301M (+$10.6M)

Holders
106
Holders Change
+12
Holders Change %
+12.77%
% of All Funds
1.29%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
21
Increased
36
Reduced
30
Closed
9
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
RCM
Rivernorth Capital Management
Florida
+$20.4M
2
AIA
Absolute Investment Advisers
Florida
+$5.1M
3
RAM
Readystate Asset Management
Illinois
+$2.95M
4
Jane Street
Jane Street
New York
+$2.7M
5
WAM
Wolverine Asset Management
Illinois
+$2.62M

Top Sellers

1
SCM
Saba Capital Management
New York
-$15.9M
2
Morgan Stanley
Morgan Stanley
New York
-$3.47M
3
UBS Group
UBS Group
Switzerland
-$2.58M
4
FA
Fountainhead AM
New Jersey
-$2.1M
5
Raymond James Financial
Raymond James Financial
Florida
-$1.92M
Name Holding Trade Value Shares
Change 		Change in
Stake
WCM
51
Winebrenner Capital Management
Kentucky
$510K -$145K -10,000 -22%
AWA
52
Amplius Wealth Advisors
Pennsylvania
$480K +$24.6K +1,700 +5%
TCM
53
TD Capital Management
Tennessee
$479K +$26.1K +1,805 +6%
AA
54
Armis Advisers
Georgia
$457K -$137K -9,494 -23%
TI
55
TrueMark Investments
Illinois
$409K +$418K +28,859 New
XT
56
XTX Topco
Cayman Islands
$368K +$376K +25,954 New
OFO
57
OneAscent Family Office
Alabama
$354K – – –
CAPTRUST Financial Advisors
58
CAPTRUST Financial Advisors
North Carolina
$347K -$12.4K -856 -3%
HF
59
HRT Financial
New York
$296K +$303K +20,971 New
Truist Financial
60
Truist Financial
North Carolina
$296K -$10.9K -750 -3%
SFS
61
Shaker Financial Services
Virginia
$288K +$70K +4,835 +31%
CP
62
Camelot Portfolios
Ohio
$276K – – –
CA
63
CoreCap Advisors
Michigan
$256K -$124K -8,543 -32%
KWA
64
Kingswood Wealth Advisors
California
$254K -$74.9K -5,174 -22%
ERIC
65
Eagle Rock Investment Company
Georgia
$253K – – –
Citadel Advisors
66
Citadel Advisors
Florida
$247K +$252K +17,449 New
SWM
67
SeaCrest Wealth Management
New York
$247K -$12.9K -893 -5%
PCG
68
Prosperity Consulting Group
Maryland
$239K – – –
NA
69
NewEdge Advisors
Louisiana
$239K +$11K +759 +5%
PFGIA
70
Patriot Financial Group Insurance Agency
Massachusetts
$236K – – –
WS
71
Wedbush Securities
California
$234K +$4.22K +292 +2%
HighTower Advisors
72
HighTower Advisors
Illinois
$231K +$8.71K +602 +4%
WCFA
73
Walkner Condon Financial Advisors
Wisconsin
$230K – – –
Creative Planning
74
Creative Planning
Kansas
$206K +$49.2K +3,400 +30%
BCM
75
Boreal Capital Management
Florida
$204K -$18.5K -1,281 -8%
1 2
3
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BCAT Hedge Fund Activity: Q4 2025 in Review

106 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in BlackRock Capital Allocation Term Trust (BCAT) for Q4 2025, worth a combined $301M — up 3.6% from $291M a quarter earlier.

Buyers outnumbered sellers: 21 funds opened new BCAT positions and 9 closed out — a net gain of 12 holders — while 36 added to existing stakes and 30 trimmed.

The largest buyer was Rivernorth Capital Management, opening a new position worth an estimated $20.4M. The largest seller was Saba Capital Management, exiting entirely with an estimated $15.9M sold.

  • 106 institutional investors held BlackRock Capital Allocation Term Trust (BCAT) as of Q4 2025, up from 94 in Q3 2025.
  • Funds reported $301M of BlackRock Capital Allocation Term Trust stock for Q4 2025, up 3.6% quarter-over-quarter.
  • 21 funds opened new BlackRock Capital Allocation Term Trust positions in Q4 2025 and 9 closed out, a net change of +12 holders.
  • The largest BlackRock Capital Allocation Term Trust buyer in Q4 2025 was Rivernorth Capital Management, an estimated $20.4M added.
  • The largest BlackRock Capital Allocation Term Trust seller in Q4 2025 was Saba Capital Management, an estimated $15.9M sold.

Based on aggregated 13F filings for Q4 2025.