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Golub Capital BDC
GBDC

114 hedge funds and large institutions have $369M invested in Golub Capital BDC in 2015 Q4 according to their latest regulatory filings, with 12 funds opening new positions, 39 increasing their positions, 37 reducing their positions, and 17 closing their positions.

New
Increased
Maintained
Reduced
Closed

5% more repeat investments, than reductions

Existing positions increased: 39 | Existing positions reduced: 37

3% more capital invested

Capital invested by funds: $359M → $369M (+$10.3M)

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

4% less funds holding

Funds holding: 119 → 114 (-5)

29% less first-time investments, than exits

New positions opened: 12 | Existing positions closed: 17

Holders
114
Holders Change
-5
Holders Change %
-4.2%
% of All Funds
2.99%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.05%
New
12
Increased
39
Reduced
37
Closed
17
Calls
$689K
Puts
–
Net Calls
+$689K
Net Calls Change
+$689K

Top Buyers

Rank Fund Capital Flow
1
State of New Jersey Common Pension Fund D
State of New Jersey Common Pension Fund D
New Jersey
+$5.98M
2
TG
TCW Group
California
+$2.52M
3
CCP
Clough Capital Partners
Massachusetts
+$2.11M
4
LPL Financial
LPL Financial
California
+$1.35M
5
Morgan Stanley
Morgan Stanley
New York
+$986K

Top Sellers

Rank Fund Capital Flow
1
ClearBridge Investments
ClearBridge Investments
New York
-$4.83M
2
Brown Advisory
Brown Advisory
Maryland
-$3.23M
3
Fiera Capital (Canada)
Fiera Capital (Canada)
Quebec, Canada
-$2.4M
4
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
-$1.53M
5
Grantham, Mayo, Van Otterloo & Co (GMO)
Grantham, Mayo, Van Otterloo & Co (GMO)
Massachusetts
-$1.28M
Name Holding Trade Value Shares
Change 		Change in
Stake
SMDAM
51
Sumitomo Mitsui DS Asset Management
Japan
$783K – – –
RJFSA
52
Raymond James Financial Services Advisors
Florida
$720K +$201K +12,201 +38%
HB
53
Homrich & Berg
Georgia
$717K +$13.6K +826 +2%
WSCM
54
Wellington Shields Capital Management
New York
$675K -$35.2K -2,144 -5%
Two Sigma Investments
55
Two Sigma Investments
New York
$663K +$669K +40,705 New
RFC
56
Russell Frank Company
Washington
$645K -$175K -10,676 -21%
BAS
57
Brown Advisory Securities
Maryland
$644K +$6.28K +382 +1%
Commonwealth Equity Services
58
Commonwealth Equity Services
Massachusetts
$633K +$40.2K +2,443 +7%
GF
59
Gerstein Fisher
New York
$628K +$1.4K +85 +0.2%
WJA
60
Williams Jones & Associates
New York
$590K -$46.1K -2,807 -7%
AIM
61
Allen Investment Management
New York
$542K -$200K -12,145 -27%
Citigroup
62
Citigroup
New York
$486K -$41.6K -2,528 -8%
William Blair & Company
63
William Blair & Company
Illinois
$479K +$25.2K +1,531 +5%
Deutsche Bank
64
Deutsche Bank
Germany
$461K -$21.4K -1,301 -4%
MC
65
Moors & Cabot
Massachusetts
$461K +$345 +21 +0.1%
MIC
66
Meridian Investment Counsel
California
$459K – – –
ACM
67
Ativo Capital Management
Illinois
$452K +$49 +3 +0%
CIBC Private Wealth Group
68
CIBC Private Wealth Group
Georgia
$451K – – –
Norges Bank
69
Norges Bank
Norway
$436K – – –
CIBC World Market
70
CIBC World Market
Ontario, Canada
$430K +$57.8K +3,515 +15%
LWA
71
Lenox Wealth Advisors
New York
$354K – – –
Bank of New York Mellon
72
Bank of New York Mellon
New York
$339K -$16.7K -1,015 -5%
PHS
73
Pekin Hardy Strauss
Illinois
$335K +$42.7K +2,596 +14%
CMANY
74
Capital Management Associates (New York)
New York
$323K -$6.72K -409 -2%
M&T Bank
75
M&T Bank
New York
$321K – – –
1 2
3
4 5

GBDC Hedge Fund Activity: Q4 2015 in Review

114 of the 3,812 institutional investors tracked by Wall St. Rank reported a position in Golub Capital BDC (GBDC) for Q4 2015, worth a combined $369M — up 2.9% from $359M a quarter earlier.

Sellers outnumbered buyers: 17 funds closed out of GBDC and 12 opened new positions — a net loss of 5 holders — while 37 trimmed existing stakes and 39 added.

The largest buyer was State of New Jersey Common Pension Fund D, opening a new position worth an estimated $5.98M. The largest seller was ClearBridge Investments, cutting an estimated $4.83M.

  • 114 institutional investors held Golub Capital BDC (GBDC) as of Q4 2015, down from 119 in Q3 2015.
  • Funds reported $369M of Golub Capital BDC stock for Q4 2015, up 2.9% quarter-over-quarter.
  • 12 funds opened new Golub Capital BDC positions in Q4 2015 and 17 closed out, a net change of -5 holders.
  • The largest Golub Capital BDC buyer in Q4 2015 was State of New Jersey Common Pension Fund D, an estimated $5.98M added.
  • The largest Golub Capital BDC seller in Q4 2015 was ClearBridge Investments, an estimated $4.83M sold.

Based on aggregated 13F filings for Q4 2015.