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Golub Capital BDC
GBDC

156 hedge funds and large institutions have $414M invested in Golub Capital BDC in 2018 Q3 according to their latest regulatory filings, with 13 funds opening new positions, 61 increasing their positions, 42 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

45% more repeat investments, than reductions

Existing positions increased: 61 | Existing positions reduced: 42

30% more first-time investments, than exits

New positions opened: 13 | Existing positions closed: 10

1% more funds holding

Funds holding: 154 → 156 (+2)

3% more capital invested

Capital invested by funds: $402M → $414M (+$12.6M)

0.23% less ownership

Funds ownership: 37.83% → 37.6% (-0.23%)

20% less funds holding in top 10

Funds holding in top 10: 5 → 4 (-1)

Holders
156
Holders Change
+2
Holders Change %
+1.3%
% of All Funds
3.57%
Holding in Top 10
4
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-20%
% of All Funds
0.09%
New
13
Increased
61
Reduced
42
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Arrowstreet Capital
Arrowstreet Capital
Massachusetts
+$4.74M
2
BFO
Biltmore Family Office
North Carolina
+$4.2M
3
FIM
Frontier Investment Management
Texas
+$3.35M
4
C
Cliffwater
California
+$3.14M
5
UBS Group
UBS Group
Switzerland
+$2.17M

Top Sellers

Rank Fund Capital Flow
1
Goldman Sachs
Goldman Sachs
New York
-$9.61M
2
MWNA
Marshall Wace North America
New York
-$4.34M
3
Bank of Montreal
Bank of Montreal
Ontario, Canada
-$3.76M
4
Wells Fargo
Wells Fargo
California
-$3.12M
5
MC
Muzinich & Co
New York
-$2.71M
Name Holding Trade Value Shares
Change 		Change in
Stake
Arrowstreet Capital
26
Arrowstreet Capital
Massachusetts
$4.72M +$4.74M +257,146 New
OAC
27
OMERS Administration Corp
Ontario, Canada
$4.69M +$947K +51,373 +25%
AR
28
Advisory Research
Illinois
$4.53M -$269K -14,567 -6%
Legal & General Group
29
Legal & General Group
United Kingdom
$4.53M +$82.5K +4,474 +2%
TYCC
30
Texas Yale Capital Corp
Florida
$4.39M +$105K +5,682 +2%
NEAM
31
New England Asset Management
Connecticut
$4.37M – – –
D.E. Shaw & Co
32
D.E. Shaw & Co
New York
$4.27M +$1.29M +70,239 +43%
PC
33
Polar Capital
United Kingdom
$4.21M – – –
HighTower Advisors
34
HighTower Advisors
Illinois
$4.2M +$174K +9,412 +4%
BFO
35
Biltmore Family Office
North Carolina
$4.18M +$4.2M +227,790 New
MCM
36
McKinley Capital Management
Alaska
$4.05M +$15.7K +850 +0.4%
SMDAM
37
Sumitomo Mitsui DS Asset Management
Japan
$3.96M -$288K -15,612 -7%
LWM
38
Lyell Wealth Management
California
$3.85M -$165K -8,933 -4%
FWIA
39
Fort Washington Investment Advisors
Ohio
$2.81M -$488K -26,478 -15%
EIA
40
Edgemoor Investment Advisors
Maryland
$2.73M -$65.4K -3,548 -2%
OAM
41
Oxford Asset Management
United Kingdom
$2.67M +$1.59M +86,507 +146%
Two Sigma Advisers
42
Two Sigma Advisers
New York
$2.63M +$122K +6,636 +5%
NCM
43
Novare Capital Management
North Carolina
$2.58M – – –
PI
44
Putnam Investments
Massachusetts
$2.54M +$566K +30,676 +29%
Deutsche Bank
45
Deutsche Bank
Germany
$2.51M +$443K +24,035 +21%
Millennium Management
46
Millennium Management
New York
$2.4M -$811K -44,004 -25%
CIC
47
Crawford Investment Counsel
Georgia
$2.29M +$223K +12,109 +11%
Brown Advisory
48
Brown Advisory
Maryland
$2.22M -$21.6K -1,169 -1%
V
49
Veritable
Delaware
$2.17M -$30.8K -1,670 -1%
S
50
SignatureFD
Georgia
$2.11M – – –
1
2
3 4 5

GBDC Hedge Fund Activity: Q3 2018 in Review

156 of the 4,375 institutional investors tracked by Wall St. Rank reported a position in Golub Capital BDC (GBDC) for Q3 2018, worth a combined $414M — up 3.1% from $402M a quarter earlier.

Buyers outnumbered sellers: 13 funds opened new GBDC positions and 10 closed out — a net gain of 3 holders — while 61 added to existing stakes and 42 trimmed.

The largest buyer was Arrowstreet Capital, opening a new position worth an estimated $4.74M. The largest seller was Goldman Sachs, exiting entirely with an estimated $9.61M sold.

  • 156 institutional investors held Golub Capital BDC (GBDC) as of Q3 2018, up from 154 in Q2 2018.
  • Funds reported $414M of Golub Capital BDC stock for Q3 2018, up 3.1% quarter-over-quarter.
  • 13 funds opened new Golub Capital BDC positions in Q3 2018 and 10 closed out, a net change of +3 holders.
  • The largest Golub Capital BDC buyer in Q3 2018 was Arrowstreet Capital, an estimated $4.74M added.
  • The largest Golub Capital BDC seller in Q3 2018 was Goldman Sachs, an estimated $9.61M sold.

Based on aggregated 13F filings for Q3 2018.