We are live on ! Find out more
BCAT icon

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
Morgan Stanley
1
Morgan Stanley
New York
$60.1M -$3.47M -239,913 -5%
Wells Fargo
2
Wells Fargo
California
$29M -$1.01M -69,756 -3%
Cohen & Steers
3
Cohen & Steers
New York
$23.1M +$145K +10,000 +0.6%
Bank of America
4
Bank of America
North Carolina
$20.9M +$1.21M +83,529 +6%
PCM
5
Penserra Capital Management
California
$20.3M +$1.92M +132,891 +10%
RCM
6
Rivernorth Capital Management
Florida
$19.9M +$20.4M +1,408,167 New
Invesco
7
Invesco
Georgia
$17.9M -$916K -63,274 -5%
UBS Group
8
UBS Group
Switzerland
$13.6M -$2.58M -178,177 -16%
Stifel Financial
9
Stifel Financial
Missouri
$6.64M -$661K -45,673 -9%
Rockefeller Capital Management
10
Rockefeller Capital Management
New York
$6.08M -$484K -33,465 -7%
LPL Financial
11
LPL Financial
California
$5.68M +$446K +30,804 +8%
Royal Bank of Canada
12
Royal Bank of Canada
Ontario, Canada
$5.37M +$2.18M +150,887 +66%
KWM
13
Keebeck Wealth Management
Illinois
$5.1M -$56.1K -3,876 -1%
AIA
14
Absolute Investment Advisers
Florida
$5.08M +$5.1M +352,521 New
AAM
15
Advisors Asset Management
Colorado
$5.02M +$224K +15,459 +5%
Raymond James Financial
16
Raymond James Financial
Florida
$4.74M -$1.92M -133,005 -28%
Cambridge Investment Research Advisors
17
Cambridge Investment Research Advisors
Iowa
$3.04M +$69.3K +4,792 +2%
RAM
18
Readystate Asset Management
Illinois
$2.89M +$2.95M +203,918 New
Jane Street
19
Jane Street
New York
$2.64M +$2.7M +186,712 New
Lido Advisors
20
Lido Advisors
California
$2.57M +$2.42M +167,144 +1,243%
WAM
21
Wolverine Asset Management
Illinois
$2.56M +$2.62M +181,129 New
QL
22
Quarry LP
New York
$2.02M +$2.06M +142,366 New
Ameriprise
23
Ameriprise
Minnesota
$1.71M +$63.4K +4,383 +4%
First Trust Advisors
24
First Trust Advisors
Illinois
$1.68M -$33.7K -2,332 -2%
Commonwealth Equity Services
25
Commonwealth Equity Services
Massachusetts
$1.54M +$507K +35,019 +47%
1
2 3 4 5

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.