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.
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)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PCIA
Prime Capital Investment Advisors
Overland Park,
Kansas
|
+$31.3M |
| 2 |
CL
Choreo LLC
Rockford,
Illinois
|
+$20.7M |
| 3 |
VanEck Associates
New York
|
+$8.28M |
| 4 |
C
Cliffwater
Marina Del Rey,
California
|
+$7.8M |
| 5 |
Mariner
Overland Park,
Kansas
|
+$7.73M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
LSV Asset Management
Chicago,
Illinois
|
-$5.62M |
| 2 |
Bank of America
Charlotte,
North Carolina
|
-$3.79M |
| 3 |
Two Sigma Advisers
New York
|
-$2.59M |
| 4 |
Citadel Advisors
Miami,
Florida
|
-$1.91M |
| 5 |
Two Sigma Investments
New York
|
-$1.46M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
RWA
151
Redhawk Wealth Advisors
Minneapolis,
Minnesota
| – | -$870K | -53,784 | Closed |
|
|
TI
152
Trexquant Investment
Stamford,
Connecticut
| – | -$387K | -23,909 | Closed |
|
|
XT
153
XTX Topco
George Town,
Cayman Islands
| – | -$340K | -21,019 | Closed |
|
154
Connor, Clark & Lunn Investment Management (CC&L)
Vancouver,
British Columbia, Canada
| – | -$330K | -20,413 | Closed |
|
|
MWM
155
MGB Wealth Management
Addison,
Texas
| – | -$291K | -17,199 | Closed |
|
|
QC
156
Quadrature Capital
London,
United Kingdom
| – | -$207K | -12,777 | Closed |
|
|
CH
157
Canton Hathaway
Providence,
Rhode Island
| – | -$158K | -9,795 | Closed |
|
|
DWM
158
Darwin Wealth Management
Tampa,
Florida
| – | -$21.5K | -1,200 | Closed |
|
159
AssetMark Inc
Concord,
California
| – | -$8.12K | -502 | Closed |
|
|
W
160
WealthCollab
Bellevue,
Washington
| – | -$7.8K | -482 | Closed |
|
|
TFA
161
Toth Financial Advisory
Leesburg,
Virginia
| – | -$1.46K | -90 | Closed |
|
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.