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Crescent Capital BDC
CCAP

29 hedge funds and large institutions have $124M invested in Crescent Capital BDC in 2020 Q2 according to their latest regulatory filings, with 6 funds opening new positions, 7 increasing their positions, 7 reducing their positions, and 7 closing their positions.

New
Increased
Maintained
Reduced
Closed

136% more capital invested

Capital invested by funds: $52.5M → $124M (+$71.3M)

50% more funds holding in top 10

Funds holding in top 10: 2 → 3 (+1)

15.99% more ownership

Funds ownership: 19.21% → 35.21% (+16%)

0% more repeat investments, than reductions

Existing positions increased: 7 | Existing positions reduced: 7

3% less funds holding

Funds holding: 30 → 29 (-1)

14% less first-time investments, than exits

New positions opened: 6 | Existing positions closed: 7

Holders
29
Holders Change
-1
Holders Change %
-3.33%
% of All Funds
0.59%
Holding in Top 10
3
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+50%
% of All Funds
0.06%
New
6
Increased
7
Reduced
7
Closed
7
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
FNF
Fidelity National Financial
Florida
+$48.4M
2
PAIM
Punch & Associates Investment Management
Minnesota
+$1.55M
3
RJA
Raymond James & Associates
Florida
+$1.46M
4
C
Cliffwater
California
+$1.26M
5
Mackenzie Financial
Mackenzie Financial
Ontario, Canada
+$830K

Top Sellers

1
SV
Stilwell Value
New York
-$1.3M
2
Morgan Stanley
Morgan Stanley
New York
-$970K
3
MFP
Michael F. Price
-$448K
4
CC
Caxton Corporation
New Jersey
-$332K
5
AM
Ares Management
California
-$309K
Name Holding Trade Value Shares
Change 		Change in
Stake
FNF
1
Fidelity National Financial
Florida
$51.6M +$48.4M +4,205,307 New
FFH
2
Fairfax Financial Holdings
Ontario, Canada
$48M – – –
PAIM
3
Punch & Associates Investment Management
Minnesota
$4.62M +$1.55M +134,703 +58%
C
4
Cliffwater
California
$4.58M +$1.26M +109,590 +43%
SV
5
Stilwell Value
New York
$3.24M -$1.3M -113,025 -31%
RJA
6
Raymond James & Associates
Florida
$1.94M +$1.46M +126,491 +470%
BI
7
Bulldog Investors
New Jersey
$1.81M – – –
RCM
8
Radcliffe Capital Management
Pennsylvania
$1.02M -$33.5K -2,909 -3%
UBS Group
9
UBS Group
Switzerland
$966K +$677K +58,851 +334%
PI
10
Putnam Investments
Massachusetts
$945K -$273K -23,719 -24%
Mackenzie Financial
11
Mackenzie Financial
Ontario, Canada
$911K +$830K +72,112 New
CIM
12
Confluence Investment Management
Missouri
$773K -$278K -24,184 -28%
Millennium Management
13
Millennium Management
New York
$718K +$234K +20,327 +56%
SM
14
Salzhauer Michael
$697K – – –
California Public Employees Retirement System
15
California Public Employees Retirement System
California
$671K +$611K +53,064 New
LP
16
LMR Partners
United Kingdom
$469K +$427K +37,099 New
Royal Bank of Canada
17
Royal Bank of Canada
Ontario, Canada
$341K +$275K +23,910 +770%
AAM
18
Advisors Asset Management
Colorado
$154K +$140K +12,152 New
OC
19
Oppenheimer & Co
New York
$142K – – –
LSV Asset Management
20
LSV Asset Management
Illinois
$52K – – –
CPA
21
Cowen Prime Advisors
New York
$47K +$34.5K +3,000 New
TRCT
22
Tower Research Capital (TRC)
New York
$41K -$40.7K -3,534 -52%
Morgan Stanley
23
Morgan Stanley
New York
$26K -$970K -84,282 -98%
Citigroup
24
Citigroup
New York
$20K – – –
Osaic Holdings
25
Osaic Holdings
Arizona
$15K +$1.15K +100 +9%
1
2

CCAP Hedge Fund Activity: Q2 2020 in Review

29 of the 4,877 institutional investors tracked by Wall St. Rank reported a position in Crescent Capital BDC (CCAP) for Q2 2020, worth a combined $124M — up 136% from $52.5M a quarter earlier.

Sellers outnumbered buyers: 7 funds closed out of CCAP and 6 opened new positions — a net loss of 1 holder — while 7 trimmed existing stakes and 7 added.

The largest buyer was Fidelity National Financial, opening a new position worth an estimated $48.4M. The largest seller was Stilwell Value, cutting an estimated $1.3M.

  • 29 institutional investors held Crescent Capital BDC (CCAP) as of Q2 2020, down from 30 in Q1 2020.
  • Funds reported $124M of Crescent Capital BDC stock for Q2 2020, up 136% quarter-over-quarter.
  • 6 funds opened new Crescent Capital BDC positions in Q2 2020 and 7 closed out, a net change of -1 holder.
  • The largest Crescent Capital BDC buyer in Q2 2020 was Fidelity National Financial, an estimated $48.4M added.
  • The largest Crescent Capital BDC seller in Q2 2020 was Stilwell Value, an estimated $1.3M sold.

Based on aggregated 13F filings for Q2 2020.