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.
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)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Wells Fargo
San Francisco,
California
|
+$14M |
| 2 |
Cohen & Steers
New York
|
+$2.34M |
| 3 |
Bank of America
Charlotte,
North Carolina
|
+$1.7M |
| 4 |
Jane Street
New York
|
+$1.44M |
| 5 |
Raymond James Financial
St Petersburg,
Florida
|
+$1.33M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
-$58.5M |
| 2 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$16M |
| 3 |
Morgan Stanley
New York
|
-$5.39M |
| 4 |
Pathstone Holdings
Englewood,
New Jersey
|
-$2.22M |
| 5 |
Commonwealth Equity Services
Waltham,
Massachusetts
|
-$1.98M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
101
Walleye Capital
New York
| – | -$421K | -29,257 | Closed |
|
102
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
| – | -$309K | -21,449 | Closed |
|
|
CW
103
CreativeOne Wealth
Overland Park,
Kansas
| – | -$198K | -13,717 | Closed |
|
104
Citadel Advisors
Miami,
Florida
| – | -$163K | -11,331 | Closed |
|
105
Northwestern Mutual Wealth Management
Milwaukee,
Wisconsin
| – | -$6.9K | -479 | Closed |
|
106
JP Morgan Chase
New York
| – | -$3.99K | -277 | Closed |
|
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.