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BlackRock Capital Allocation Term Trust
BCAT

92 hedge funds and large institutions have $425M invested in BlackRock Capital Allocation Term Trust in 2025 Q1 according to their latest regulatory filings, with 13 funds opening new positions, 44 increasing their positions, 21 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

110% more repeat investments, than reductions

Existing positions increased: 44 | Existing positions reduced: 21

18% more first-time investments, than exits

New positions opened: 13 | Existing positions closed: 11

2% more funds holding

Funds holding: 90 → 92 (+2)

3.84% less ownership

Funds ownership: 31.2% → 27.36% (-3.8%)

17% less capital invested

Capital invested by funds: $511M → $425M (-$86M)

67% less funds holding in top 10

Funds holding in top 10: 3 → 1 (-2)

Holders
92
Holders Change
+2
Holders Change %
+2.22%
% of All Funds
1.23%
Holding in Top 10
1
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-66.67%
% of All Funds
0.01%
New
13
Increased
44
Reduced
21
Closed
11
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Cohen & Steers
Cohen & Steers
New York
+$6.22M
2
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
+$5.24M
3
Bank of America
Bank of America
North Carolina
+$1.9M
4
ARC
Advisor Resource Council
Texas
+$1.57M
5
PCM
Penserra Capital Management
California
+$1.53M

Top Sellers

Rank Fund Capital Flow
1
SCM
Saba Capital Management
New York
-$27.6M
2
RCM
Rivernorth Capital Management
Florida
-$27.2M
3
Pathstone Holdings
Pathstone Holdings
New Jersey
-$9.03M
4
CC
CF Capital
Massachusetts
-$7.5M
5
AGM
Alpine Global Management
New York
-$6.82M
Name Holding Trade Value Shares
Change 		Change in
Stake
SWA
76
SOA Wealth Advisors
New York
$75.1K +$1.15M +75,069 New
ACM
77
Anfield Capital Management
California
$52.9K – – –
PTC
78
Private Trust Company
Ohio
$50.4K +$53.5K +3,500 New
NS
79
NBC Securities
Alabama
$43K +$46.3K +3,032 +151,600%
NWMP
80
Noble Wealth Management PBC
Colorado
$31.6K +$33.5K +2,191 New
WA
81
WPG Advisers
Maryland
$23.7K +$13.8K +906 +122%
AF
82
Advisornet Financial
Minnesota
$15.3K +$16.2K +1,062 New
FCMT
83
Founders Capital Management (Texas)
Texas
$13K – – –
GCM
84
Gables Capital Management
Florida
$12.6K – – –
AWM
85
Atticus Wealth Management
Florida
$11.2K – – –
Carson Wealth (CWM LLC)
86
Carson Wealth (CWM LLC)
Nebraska
$11K – – –
RL
87
Rogco LP
Oklahoma
$10.8K – – –
Northwestern Mutual Wealth Management
88
Northwestern Mutual Wealth Management
Wisconsin
$6.9K +$7.32K +479 New
TJHA
89
Thomas J. Herzfeld Advisors
Florida
$6.19K -$3.23M -211,656 -100%
ME
90
McIlrath & Eck
Washington
$4.03K – – –
JP Morgan Chase
91
JP Morgan Chase
New York
$3.99K +$4.09K +268 +2,978%
AF
92
Allworth Financial
California
$222 +$15 +1 +7%
CC
93
CF Capital
Massachusetts
– -$7.5M -495,100 Closed
AGM
94
Alpine Global Management
New York
– -$6.82M -450,000 Closed
SA
95
Sanctuary Advisors
Indiana
– -$1.62M -104,707 Closed
Jane Street
96
Jane Street
New York
– -$765K -50,496 Closed
LCM
97
Landscape Capital Management
New Jersey
– -$418K -27,610 Closed
AWM
98
Avior Wealth Management
Nebraska
– -$193K -12,757 Closed
BMO
99
Beck Mack & Oliver
New York
– -$189K -12,500 Closed
CCB
100
Cutter & Co Brokerage
Missouri
– -$158K -10,411 Closed
1 2 3
4
5

BCAT Hedge Fund Activity: Q1 2025 in Review

92 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in BlackRock Capital Allocation Term Trust (BCAT) for Q1 2025, worth a combined $425M — down 17% from $511M a quarter earlier.

Buyers outnumbered sellers: 13 funds opened new BCAT positions and 11 closed out — a net gain of 2 holders — while 44 added to existing stakes and 21 trimmed.

The largest buyer was Cohen & Steers, adding an estimated $6.22M. The largest seller was Saba Capital Management, cutting an estimated $27.6M.

  • 92 institutional investors held BlackRock Capital Allocation Term Trust (BCAT) as of Q1 2025, up from 90 in Q4 2024.
  • Funds reported $425M of BlackRock Capital Allocation Term Trust stock for Q1 2025, down 17% quarter-over-quarter.
  • 13 funds opened new BlackRock Capital Allocation Term Trust positions in Q1 2025 and 11 closed out, a net change of +2 holders.
  • The largest BlackRock Capital Allocation Term Trust buyer in Q1 2025 was Cohen & Steers, an estimated $6.22M added.
  • The largest BlackRock Capital Allocation Term Trust seller in Q1 2025 was Saba Capital Management, an estimated $27.6M sold.

Based on aggregated 13F filings for Q1 2025.