Carlyle Secured Lending
CGBD
150 hedge funds and large institutions have $322M invested in Carlyle Secured Lending in 2025 Q3 according to their latest regulatory filings, with 21 funds opening new positions, 55 increasing their positions, 37 reducing their positions, and 20 closing their positions.
110% more call options, than puts
Call options by funds: $795K | Put options by funds: $378K
49% more repeat investments, than reductions
Existing positions increased: 55 | Existing positions reduced: 37
5% more first-time investments, than exits
New positions opened: 21 | Existing positions closed: 20
0.4% more ownership
Funds ownership: 34.8% → 35.2% (+0.4%)
0% more funds holding
Funds holding: 150 → 150 (0)
8% less capital invested
Capital invested by funds: $348M → $322M (-$26.2M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
+$11.6M |
| 2 |
Two Sigma Investments
New York
|
+$6.65M |
| 3 |
CC
CF Capital
Cohasset,
Massachusetts
|
+$6.54M |
| 4 |
Rockefeller Capital Management
New York
|
+$3.62M |
| 5 |
Wells Fargo
San Francisco,
California
|
+$3.26M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PCIA
Prime Capital Investment Advisors
Overland Park,
Kansas
|
-$30.2M |
| 2 |
LSV Asset Management
Chicago,
Illinois
|
-$6.41M |
| 3 |
C
Cliffwater
Marina Del Rey,
California
|
-$4.68M |
| 4 |
Creative Planning
Overland Park,
Kansas
|
-$3.91M |
| 5 |
Tudor Investment Corp
Stamford,
Connecticut
|
-$3M |
CGBD Hedge Fund Activity: Q3 2025 in Review
150 of the 7,641 institutional investors tracked by Wall St. Rank reported a position in Carlyle Secured Lending (CGBD) for Q3 2025, worth a combined $322M — down 7.5% from $348M a quarter earlier.
Buyers outnumbered sellers: 21 funds opened new CGBD positions and 20 closed out — a net gain of 1 holder — while 55 added to existing stakes and 37 trimmed.
The largest buyer was Rivernorth Capital Management, adding an estimated $11.6M. The largest seller was Prime Capital Investment Advisors, exiting entirely with an estimated $30.2M sold.
- 150 institutional investors held Carlyle Secured Lending (CGBD) as of Q3 2025, unchanged from Q2 2025.
- Funds reported $322M of Carlyle Secured Lending stock for Q3 2025, down 7.5% quarter-over-quarter.
- 21 funds opened new Carlyle Secured Lending positions in Q3 2025 and 20 closed out, a net change of +1 holder.
- The largest Carlyle Secured Lending buyer in Q3 2025 was Rivernorth Capital Management, an estimated $11.6M added.
- The largest Carlyle Secured Lending seller in Q3 2025 was Prime Capital Investment Advisors, an estimated $30.2M sold.
Based on aggregated 13F filings for Q3 2025.