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Carlyle Secured Lending
CGBD

149 hedge funds and large institutions have $348M invested in Carlyle Secured Lending in 2025 Q2 according to their latest regulatory filings, with 47 funds opening new positions, 47 increasing their positions, 28 reducing their positions, and 13 closing their positions.

New
Increased
Maintained
Reduced
Closed

262% more first-time investments, than exits

New positions opened: 47 | Existing positions closed: 13

169% more call options, than puts

Call options by funds: $1.2M | Put options by funds: $445K

68% more repeat investments, than reductions

Existing positions increased: 47 | Existing positions reduced: 28

25% more funds holding

Funds holding: 119 → 149 (+30)

17% more capital invested

Capital invested by funds: $298M → $348M (+$49.4M)

1.41% less ownership

Funds ownership: 36.2% → 34.8% (-1.4%)

100% less funds holding in top 10

Funds holding in top 10: 1 → 0 (-1)

Holders
149
Holders Change
+30
Holders Change %
+25.21%
% of All Funds
1.96%
Holding in Top 10
–
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-100%
% of All Funds
–
New
47
Increased
47
Reduced
28
Closed
13
Calls
$1.2M
Puts
$445K
Net Calls
+$751K
Net Calls Change
-$594K

Top Buyers

Rank Fund Capital Flow
1
PCIA
Prime Capital Investment Advisors
Kansas
+$31.3M
2
CL
Choreo LLC
Illinois
+$20.7M
3
VanEck Associates
VanEck Associates
New York
+$8.28M
4
C
Cliffwater
California
+$7.8M
5
Mariner
Mariner
Kansas
+$7.73M

Top Sellers

Rank Fund Capital Flow
1
LSV Asset Management
LSV Asset Management
Illinois
-$5.62M
2
Bank of America
Bank of America
North Carolina
-$3.79M
3
Two Sigma Advisers
Two Sigma Advisers
New York
-$2.59M
4
Citadel Advisors
Citadel Advisors
Florida
-$1.91M
5
Two Sigma Investments
Two Sigma Investments
New York
-$1.46M
Name Holding Trade Value Shares
Change 		Change in
Stake
AWM
76
Apollon Wealth Management
South Carolina
$446K +$124K +8,707 +36%
AWA
77
Arkadios Wealth Advisors
Georgia
$443K – – –
SPIA
78
Steward Partners Investment Advisory
New York
$441K +$192K +13,498 +72%
GIM
79
Glenmede Investment Management
Pennsylvania
$440K +$458K +32,175 New
KWM
80
Keebeck Wealth Management
Illinois
$436K – – –
Stifel Financial
81
Stifel Financial
Missouri
$422K -$210K -14,748 -32%
CAU
82
Caxton Associates (UK)
$403K – – –
UAG
83
United Advisor Group
Ohio
$357K +$31.2K +2,196 +9%
Mackenzie Financial
84
Mackenzie Financial
Ontario, Canada
$354K +$11.5K +808 +3%
PAMG
85
Patton Albertson Miller Group
Tennessee
$344K +$357K +25,114 New
TCA
86
Transcend Capital Advisors
New Jersey
$342K +$356K +25,015 New
IFG
87
Independent Financial Group
California
$330K +$50K +3,519 +17%
Goldman Sachs
88
Goldman Sachs
New York
$308K +$320K +22,529 New
Fisher Asset Management
89
Fisher Asset Management
Washington
$307K +$2.83K +199 +0.9%
JP Morgan Chase
90
JP Morgan Chase
New York
$304K -$147K -10,310 -32%
SCA
91
SMH Capital Advisors
Texas
$300K +$312K +21,925 New
CG
92
Clarus Group
Texas
$291K – – –
MCM
93
MAI Capital Management
Ohio
$285K +$296K +20,797 New
Northern Trust
94
Northern Trust
Illinois
$265K +$276K +19,401 New
CCG
95
Catalina Capital Group
California
$263K +$274K +19,239 New
SC
96
Savant Capital
Illinois
$258K +$8.19K +576 +3%
IAIM
97
International Assets Investment Management
Florida
$248K – – –
Mercer Global Advisors
98
Mercer Global Advisors
Colorado
$245K +$254K +17,890 New
FA
99
Financial Alternatives
California
$241K – – –
AWM
100
Arista Wealth Management
Nevada
$240K +$250K +17,573 New
2 3
4
5 6

CGBD Hedge Fund Activity: Q2 2025 in Review

149 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Carlyle Secured Lending (CGBD) for Q2 2025, worth a combined $348M — up 17% from $298M a quarter earlier.

Buyers outnumbered sellers: 47 funds opened new CGBD positions and 13 closed out — a net gain of 34 holders — while 47 added to existing stakes and 28 trimmed.

The largest buyer was Prime Capital Investment Advisors, opening a new position worth an estimated $31.3M. The largest seller was LSV Asset Management, cutting an estimated $5.62M.

  • 149 institutional investors held Carlyle Secured Lending (CGBD) as of Q2 2025, up from 119 in Q1 2025.
  • Funds reported $348M of Carlyle Secured Lending stock for Q2 2025, up 17% quarter-over-quarter.
  • 47 funds opened new Carlyle Secured Lending positions in Q2 2025 and 13 closed out, a net change of +34 holders.
  • The largest Carlyle Secured Lending buyer in Q2 2025 was Prime Capital Investment Advisors, an estimated $31.3M added.
  • The largest Carlyle Secured Lending seller in Q2 2025 was LSV Asset Management, an estimated $5.62M sold.

Based on aggregated 13F filings for Q2 2025.