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Golub Capital BDC
GBDC

115 hedge funds and large institutions have $405M invested in Golub Capital BDC in 2014 Q4 according to their latest regulatory filings, with 24 funds opening new positions, 31 increasing their positions, 38 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

382% more call options, than puts

Call options by funds: $405K | Put options by funds: $84K

140% more first-time investments, than exits

New positions opened: 24 | Existing positions closed: 10

18% more capital invested

Capital invested by funds: $345M → $405M (+$60.4M)

13% more funds holding

Funds holding: 102 → 115 (+13)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

18% less repeat investments, than reductions

Existing positions increased: 31 | Existing positions reduced: 38

Holders
115
Holders Change
+13
Holders Change %
+12.75%
% of All Funds
3.07%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.03%
New
24
Increased
31
Reduced
38
Closed
10
Calls
$405K
Puts
$84K
Net Calls
+$321K
Net Calls Change
+$321K

Top Buyers

Rank Fund Capital Flow
1
ClearBridge Investments
ClearBridge Investments
New York
+$6.62M
2
FIM
Frontier Investment Management
Texas
+$4.47M
3
JC
JBF Capital
Colorado
+$3.02M
4
Wells Fargo
Wells Fargo
California
+$2.3M
5
CCP
Clough Capital Partners
Massachusetts
+$2.17M

Top Sellers

Rank Fund Capital Flow
1
CIM
Confluence Investment Management
Missouri
-$3.82M
2
AAMU
Amundi Asset Management US
Massachusetts
-$3.6M
3
AAM
Advisors Asset Management
Colorado
-$3.34M
4
JMPWA
JP Morgan Private Wealth Advisors
California
-$2.12M
5
SMDAM
Sumitomo Mitsui DS Asset Management
Japan
-$1.16M
Name Holding Trade Value Shares
Change 		Change in
Stake
TRCT
101
Tower Research Capital (TRC)
New York
$29K -$27.2K -1,615 -49%
MFS
102
MSI Financial Services
Massachusetts
$29K – – –
CPIG
103
Chicago Partners Investment Group
Illinois
$29K +$27.9K +1,657 New
Citigroup
104
Citigroup
New York
$24K -$3.7K -220 -14%
NFG
105
Next Financial Group
Texas
$22K -$14.3K -851 -40%
PAM
106
Panagora Asset Management
Massachusetts
$19K – – –
OIA
107
Optimum Investment Advisors
Illinois
$17K +$4.29K +255 +25%
CCA
108
Catalyst Capital Advisors
New York
$12K +$6.8K +404 +155%
W
109
Wealthfront
California
$12K +$11.2K +664 New
FHA
110
First Horizon Advisors
Tennessee
$9K – – –
WA
111
WFG Advisors
Texas
$5K +$5.24K +311 New
WEC
112
Winslow Evans & Crocker
Massachusetts
$3.59K – – –
Manulife (Manufacturers Life Insurance)
113
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$2.84K -$400K -23,766 -13%
PNC Financial Services Group
114
PNC Financial Services Group
Pennsylvania
$2K -$2.24K -133 -53%
BRWA
115
B. Riley Wealth Advisors
Florida
$74 +$71K +4,219 New
MERSOM
116
Municipal Employees' Retirement System of Michigan
Michigan
– -$319K -20,420 Closed
AL
117
Airain Ltd
Guernsey
– -$217K -13,906 Closed
DADC
118
D.A. Davidson & Co
Montana
– -$190K -12,209 Closed
CFA
119
Carroll Financial Associates
North Carolina
– -$206K -12,150 Closed
DAC
120
Dividend Assets Capital
South Carolina
– -$160K -10,210 Closed
LIA
121
LS Investment Advisors
Michigan
– -$160K -10,210 Closed
TCOV
122
Trust Company of Vermont
Vermont
– -$39K -2,471 Closed
Ameriprise
123
Ameriprise
Minnesota
– -$27K -1,736 Closed
MHS
124
M Holdings Securities
Oregon
– -$21K -1,353 Closed
BIM
125
BlackRock Investment Management
Delaware
– -$16K -1,021 Closed
1 2 3 4
5

GBDC Hedge Fund Activity: Q4 2014 in Review

115 of the 3,750 institutional investors tracked by Wall St. Rank reported a position in Golub Capital BDC (GBDC) for Q4 2014, worth a combined $405M — up 18% from $345M a quarter earlier.

Buyers outnumbered sellers: 24 funds opened new GBDC positions and 10 closed out — a net gain of 14 holders — while 31 added to existing stakes and 38 trimmed.

The largest buyer was ClearBridge Investments, adding an estimated $6.62M. The largest seller was Confluence Investment Management, cutting an estimated $3.82M.

  • 115 institutional investors held Golub Capital BDC (GBDC) as of Q4 2014, up from 102 in Q3 2014.
  • Funds reported $405M of Golub Capital BDC stock for Q4 2014, up 18% quarter-over-quarter.
  • 24 funds opened new Golub Capital BDC positions in Q4 2014 and 10 closed out, a net change of +14 holders.
  • The largest Golub Capital BDC buyer in Q4 2014 was ClearBridge Investments, an estimated $6.62M added.
  • The largest Golub Capital BDC seller in Q4 2014 was Confluence Investment Management, an estimated $3.82M sold.

Based on aggregated 13F filings for Q4 2014.