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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
Wealth Enhancement Advisory Services
101
Wealth Enhancement Advisory Services
Minnesota
$214K +$218K +15,341 New
Cambridge Investment Research Advisors
102
Cambridge Investment Research Advisors
Iowa
$211K +$597 +42 +0.3%
ES
103
Eagle Strategies
New York
$203K +$211K +14,863 New
AIM
104
Aigen Investment Management
New York
$197K +$205K +14,436 New
PA
105
PharVision Advisers
Florida
$192K +$200K +14,041 New
USCWA
106
U.S. Capital Wealth Advisors
Texas
$189K +$50.3K +3,540 +34%
JF
107
Jump Financial
Illinois
$179K +$186K +13,100 New
Macquarie Group
108
Macquarie Group
Australia
$176K -$735K -51,700 -80%
BNP Paribas Financial Markets
109
BNP Paribas Financial Markets
France
$173K +$180K +12,650 New
National Bank of Canada
110
National Bank of Canada
Quebec, Canada
$170K +$172K +12,089 +3,609%
HWM
111
HB Wealth Management
Georgia
$161K – – –
SCM
112
SCS Capital Management
Massachusetts
$159K – – –
SS
113
Sunbelt Securities
Texas
$158K -$21.3K -1,500 -15%
AF
114
Advisornet Financial
Minnesota
$153K -$212K -14,899 -57%
GVAG
115
Great Valley Advisor Group
Delaware
$152K -$8.03K -565 -5%
Cerity Partners
116
Cerity Partners
New York
$146K +$2.75K +193 +2%
QT
117
Quantbot Technologies
New York
$146K +$152K +10,664 New
BHCM
118
Brevan Howard Capital Management
Jersey
$145K +$151K +10,592 New
AR
119
Advisory Research
Illinois
$142K +$148K +10,387 New
AWM
120
Activest Wealth Management
Florida
$111K -$79.6K -5,600 -41%
CCA
121
Catalyst Capital Advisors
New York
$97K +$101K +7,087 New
Carson Wealth (CWM LLC)
122
Carson Wealth (CWM LLC)
Nebraska
$94K +$483 +34 +0.5%
ECM
123
EMC Capital Management
Texas
$89K -$92.4K -6,500 -50%
QL
124
Quarry LP
New York
$63.4K +$37.4K +2,629 +131%
TRCT
125
Tower Research Capital (TRC)
New York
$59K +$55.8K +3,925 +1,012%
3 4
5
6 7

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.