BlackRock Capital Allocation Term Trust
BCAT
72 hedge funds and large institutions have $504M invested in BlackRock Capital Allocation Term Trust in 2023 Q1 according to their latest regulatory filings, with 10 funds opening new positions, 30 increasing their positions, 14 reducing their positions, and 21 closing their positions.
114% more repeat investments, than reductions
Existing positions increased: 30 | Existing positions reduced: 14
11% more capital invested
Capital invested by funds: $453M → $504M (+$50.9M)
0.55% more ownership
Funds ownership: 29.13% → 29.68% (+0.55%)
15% less funds holding
Funds holding: 85 → 72 (-13)
50% less funds holding in top 10
Funds holding in top 10: 4 → 2 (-2)
52% less first-time investments, than exits
New positions opened: 10 | Existing positions closed: 21
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
+$25.2M |
| 2 |
Morgan Stanley
New York
|
+$5.91M |
| 3 |
WP
Woodline Partners
San Francisco,
California
|
+$3.09M |
| 4 |
UBS Group
Zurich,
Switzerland
|
+$1.93M |
| 5 |
TJHA
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
|
+$1.24M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AC
Almitas Capital
Santa Monica,
California
|
-$12.8M |
| 2 |
LSC
Logan Stone Capital
Chicago,
Illinois
|
-$5.92M |
| 3 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
-$5.1M |
| 4 |
WAM
Weiss Asset Management
Boston,
Massachusetts
|
-$3.74M |
| 5 |
RVPG
Relative Value Partners Group
|
-$1.28M |
BCAT Hedge Fund Activity: Q1 2023 in Review
72 of the 6,283 institutional investors tracked by Wall St. Rank reported a position in BlackRock Capital Allocation Term Trust (BCAT) for Q1 2023, worth a combined $504M — up 11% from $453M a quarter earlier.
Sellers outnumbered buyers: 21 funds closed out of BCAT and 10 opened new positions — a net loss of 11 holders — while 14 trimmed existing stakes and 30 added.
The largest buyer was Saba Capital Management, adding an estimated $25.2M. The largest seller was Almitas Capital, exiting entirely with an estimated $12.8M sold.
- 72 institutional investors held BlackRock Capital Allocation Term Trust (BCAT) as of Q1 2023, down from 85 in Q4 2022.
- Funds reported $504M of BlackRock Capital Allocation Term Trust stock for Q1 2023, up 11% quarter-over-quarter.
- 10 funds opened new BlackRock Capital Allocation Term Trust positions in Q1 2023 and 21 closed out, a net change of -11 holders.
- The largest BlackRock Capital Allocation Term Trust buyer in Q1 2023 was Saba Capital Management, an estimated $25.2M added.
- The largest BlackRock Capital Allocation Term Trust seller in Q1 2023 was Almitas Capital, an estimated $12.8M sold.
Based on aggregated 13F filings for Q1 2023.