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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
RTL
76
Red Tortoise LLC
Georgia
$33.3K +$32.1K +2,200 New
GWM
77
Geneos Wealth Management
Colorado
$31K +$23.1K +1,582 +342%
AF
78
Advisornet Financial
Minnesota
$29.5K +$12.9K +885 +83%
BBPWM
79
Blue Bell Private Wealth Management
Pennsylvania
$27.2K -$61.3K -4,200 -70%
BBHC
80
Brown Brothers Harriman & Co
New York
$15.1K +$14.6K +1,000 New
FCMT
81
Founders Capital Management (Texas)
Texas
$13.6K – – –
GCM
82
Gables Capital Management
Florida
$13.3K – – –
WA
83
WPG Advisers
Maryland
$13.1K -$11.4K -779 -47%
AWM
84
Atticus Wealth Management
Florida
$11.8K – – –
RL
85
Rogco LP
Oklahoma
$11.3K – – –
NFSG
86
Newbridge Financial Services Group
Florida
$9.72K +$9.38K +642 New
TJHA
87
Thomas J. Herzfeld Advisors
Florida
$6.43K -$73 -5 -1%
GRP
88
Global Retirement Partners
California
$6.36K +$6.13K +420 New
RFA
89
Reyes Financial Architecture
California
$5.1K +$4.92K +337 New
ME
90
McIlrath & Eck
Washington
$4.24K – – –
AF
91
Allworth Financial
California
$357 +$117 +8 +50%
Pathstone Holdings
92
Pathstone Holdings
New Jersey
– -$2.22M -143,719 Closed
WAM
93
Wolverine Asset Management
Illinois
– -$1.64M -114,083 Closed
ARC
94
Advisor Resource Council
Texas
– -$1.48M -102,944 Closed
SWA
95
SOA Wealth Advisors
New York
– -$75.1K -75,069 Closed
RAM
96
Readystate Asset Management
Illinois
– -$684K -47,532 Closed
IC
97
IEQ Capital
California
– -$652K -45,308 Closed
TCA
98
Transcend Capital Advisors
New Jersey
– -$642K -44,608 Closed
EC
99
Elequin Capital
New York
– -$496K -34,464 Closed
SFS
100
Shaker Financial Services
Virginia
– -$435K -30,216 Closed
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.