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BlackRock Capital Allocation Term Trust
BCAT

100 hedge funds and large institutions have $275M invested in BlackRock Capital Allocation Term Trust in 2026 Q1 according to their latest regulatory filings, with 19 funds opening new positions, 42 increasing their positions, 26 reducing their positions, and 23 closing their positions.

New
Increased
Maintained
Reduced
Closed

62% more repeat investments, than reductions

Existing positions increased: 42 | Existing positions reduced: 26

1.67% less ownership

Funds ownership: 19.79% → 18.12% (-1.7%)

6% less funds holding

Funds holding: 106 → 100 (-6)

9% less capital invested

Capital invested by funds: $301M → $275M (-$26.4M)

17% less first-time investments, than exits

New positions opened: 19 | Existing positions closed: 23

Holders
100
Holders Change
-6
Holders Change %
-5.66%
% of All Funds
1.23%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
19
Increased
42
Reduced
26
Closed
23
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
Wells Fargo
Wells Fargo
California
+$6.93M
2
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
+$2.81M
3
PCM
Penserra Capital Management
California
+$1.7M
4
Morgan Stanley
Morgan Stanley
New York
+$1.69M
5
Citadel Advisors
Citadel Advisors
Florida
+$1.07M

Top Sellers

1
RCM
Rivernorth Capital Management
Florida
-$19.9M
2
AIA
Absolute Investment Advisers
Florida
-$5.08M
3
Invesco
Invesco
Georgia
-$5.06M
4
RAM
Readystate Asset Management
Illinois
-$2.89M
5
WAM
Wolverine Asset Management
Illinois
-$2.56M
Name Holding Trade Value Shares
Change 		Change in
Stake
Morgan Stanley
1
Morgan Stanley
New York
$61.6M +$1.69M +114,950 +3%
Wells Fargo
2
Wells Fargo
California
$35.6M +$6.93M +470,333 +23%
Cohen & Steers
3
Cohen & Steers
New York
$23.3M +$221K +15,000 +0.9%
PCM
4
Penserra Capital Management
California
$21.9M +$1.7M +115,634 +8%
Bank of America
5
Bank of America
North Carolina
$20.9M +$3.87K +263 +0%
UBS Group
6
UBS Group
Switzerland
$13.8M +$269K +18,274 +2%
Invesco
7
Invesco
Georgia
$13M -$5.06M -343,617 -27%
Royal Bank of Canada
8
Royal Bank of Canada
Ontario, Canada
$8.05M +$2.81M +190,604 +50%
Stifel Financial
9
Stifel Financial
Missouri
$7.08M +$473K +32,132 +7%
LPL Financial
10
LPL Financial
California
$6.67M +$1.04M +70,821 +18%
Rockefeller Capital Management
11
Rockefeller Capital Management
New York
$5.91M -$167K -11,356 -3%
AAM
12
Advisors Asset Management
Colorado
$5.1M +$95.4K +6,474 +2%
KWM
13
Keebeck Wealth Management
Illinois
$4.97M -$118K -8,018 -2%
Raymond James Financial
14
Raymond James Financial
Florida
$4.78M +$60.2K +4,088 +1%
Cambridge Investment Research Advisors
15
Cambridge Investment Research Advisors
Iowa
$3.24M +$225K +15,260 +7%
Lido Advisors
16
Lido Advisors
California
$2.63M +$84.3K +5,726 +3%
Carson Wealth (CWM LLC)
17
Carson Wealth (CWM LLC)
Nebraska
$1.81M +$847K +57,478 +82%
Ameriprise
18
Ameriprise
Minnesota
$1.7M -$4.85K -329 -0.3%
First Trust Advisors
19
First Trust Advisors
Illinois
$1.48M -$207K -14,033 -12%
EPW
20
Evolve Private Wealth
California
$1.4M -$118 -8 -0%
PI
21
PFG Investments
New York
$1.38M +$322K +21,828 +29%
IWC
22
Integrated Wealth Concepts
Massachusetts
$1.38M +$84.7K +5,750 +6%
PIA
23
Perennial Investment Advisors
California
$1.34M +$404K +27,420 +41%
Osaic Holdings
24
Osaic Holdings
Arizona
$1.29M -$112K -7,583 -8%
Citadel Advisors
25
Citadel Advisors
Florida
$1.27M +$1.07M +72,687 +417%
1
2 3 4 5

BCAT Hedge Fund Activity: Q1 2026 in Review

100 of the 8,126 institutional investors tracked by Wall St. Rank reported a position in BlackRock Capital Allocation Term Trust (BCAT) for Q1 2026, worth a combined $275M — down 8.8% from $301M a quarter earlier.

Sellers outnumbered buyers: 23 funds closed out of BCAT and 19 opened new positions — a net loss of 4 holders — while 26 trimmed existing stakes and 42 added.

The largest buyer was Wells Fargo, adding an estimated $6.93M. The largest seller was Rivernorth Capital Management, exiting entirely with an estimated $19.9M sold.

  • 100 institutional investors held BlackRock Capital Allocation Term Trust (BCAT) as of Q1 2026, down from 106 in Q4 2025.
  • Funds reported $275M of BlackRock Capital Allocation Term Trust stock for Q1 2026, down 8.8% quarter-over-quarter.
  • 19 funds opened new BlackRock Capital Allocation Term Trust positions in Q1 2026 and 23 closed out, a net change of -4 holders.
  • The largest BlackRock Capital Allocation Term Trust buyer in Q1 2026 was Wells Fargo, an estimated $6.93M added.
  • The largest BlackRock Capital Allocation Term Trust seller in Q1 2026 was Rivernorth Capital Management, an estimated $19.9M sold.

Based on aggregated 13F filings for Q1 2026.