FS Specialty Lending Fund
FSSL
250 hedge funds and large institutions have $387M invested in FS Specialty Lending Fund in 2026 Q1 according to their latest regulatory filings, with 54 funds opening new positions, 57 increasing their positions, 99 reducing their positions, and 47 closing their positions.
25% more funds holding in top 10
Funds holding in top 10: 4 → 5 (+1)
15% more first-time investments, than exits
New positions opened: 54 | Existing positions closed: 47
12% more capital invested
Capital invested by funds: $345M → $387M (+$41.7M)
0% more funds holding
Funds holding: 249 → 250 (+1)
42% less repeat investments, than reductions
Existing positions increased: 57 | Existing positions reduced: 99
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Nomura Holdings
Tokyo,
Japan
|
+$25.4M |
| 2 |
PCM
Penserra Capital Management
Orinda,
California
|
+$17.1M |
| 3 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
+$12.8M |
| 4 |
Morgan Stanley
New York
|
+$11.2M |
| 5 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
+$9.97M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Jane Street
New York
|
-$8.38M |
| 2 |
AC
Almitas Capital
Santa Monica,
California
|
-$6.95M |
| 3 |
MG
Marex Group
London,
|
-$6.08M |
| 4 |
Commonwealth Equity Services
Waltham,
Massachusetts
|
-$5.26M |
| 5 |
KDA
Kraft Davis & Associates
St. Louis,
Missouri
|
-$1.84M |
FSSL Hedge Fund Activity: Q1 2026 in Review
250 of the 8,187 institutional investors tracked by Wall St. Rank reported a position in FS Specialty Lending Fund (FSSL) for Q1 2026, worth a combined $387M — up 12% from $345M a quarter earlier.
Buyers outnumbered sellers: 54 funds opened new FSSL positions and 47 closed out — a net gain of 7 holders — while 57 added to existing stakes and 99 trimmed.
The largest buyer was Nomura Holdings, adding an estimated $25.4M. The largest seller was Jane Street, cutting an estimated $8.38M.
- 250 institutional investors held FS Specialty Lending Fund (FSSL) as of Q1 2026, up from 249 in Q4 2025.
- Funds reported $387M of FS Specialty Lending Fund stock for Q1 2026, up 12% quarter-over-quarter.
- 54 funds opened new FS Specialty Lending Fund positions in Q1 2026 and 47 closed out, a net change of +7 holders.
- The largest FS Specialty Lending Fund buyer in Q1 2026 was Nomura Holdings, an estimated $25.4M added.
- The largest FS Specialty Lending Fund seller in Q1 2026 was Jane Street, an estimated $8.38M sold.
Based on aggregated 13F filings for Q1 2026.