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Golub Capital BDC
GBDC

185 hedge funds and large institutions have $1.03B invested in Golub Capital BDC in 2020 Q4 according to their latest regulatory filings, with 39 funds opening new positions, 68 increasing their positions, 50 reducing their positions, and 21 closing their positions.

New
Increased
Maintained
Reduced
Closed

86% more first-time investments, than exits

New positions opened: 39 | Existing positions closed: 21

36% more repeat investments, than reductions

Existing positions increased: 68 | Existing positions reduced: 50

33% more funds holding in top 10

Funds holding in top 10: 9 → 12 (+3)

25% more capital invested

Capital invested by funds: $821M → $1.03B (+$205M)

9% more funds holding

Funds holding: 169 → 185 (+16)

6.31% more ownership

Funds ownership: 37.11% → 43.42% (+6.3%)

26% less call options, than puts

Call options by funds: $432K | Put options by funds: $583K

Holders
185
Holders Change
+16
Holders Change %
+9.47%
% of All Funds
3.27%
Holding in Top 10
12
Holding in Top 10 Change
+3
Holding in Top 10 Change %
+33.33%
% of All Funds
0.21%
New
39
Increased
68
Reduced
50
Closed
21
Calls
$432K
Puts
$583K
Net Calls
-$151K
Net Calls Change
+$730K

Top Buyers

Rank Fund Capital Flow
1
Cerity Partners
Cerity Partners
New York
+$25.2M
2
HighTower Advisors
HighTower Advisors
Illinois
+$24M
3
JP Morgan Chase
JP Morgan Chase
New York
+$13.5M
4
Arrowstreet Capital
Arrowstreet Capital
Massachusetts
+$10.3M
5
Two Sigma Investments
Two Sigma Investments
New York
+$9.75M

Top Sellers

Rank Fund Capital Flow
1
Lord, Abbett & Co
Lord, Abbett & Co
New Jersey
-$10.1M
2
SO
STRS Ohio
Ohio
-$7.3M
3
UBS Group
UBS Group
Switzerland
-$3.63M
4
CCP
Clough Capital Partners
Massachusetts
-$3.35M
5
Ameriprise
Ameriprise
Minnesota
-$3.12M
Name Holding Trade Value Shares
Change 		Change in
Stake
TAM
176
Tucker Asset Management
Colorado
$5.05K +$4.88K +357 New
NCM
177
New Capital Management
Texas
$5K +$4.36K +319 New
QCG
178
Quadrant Capital Group
Ohio
$4K – – –
Citigroup
179
Citigroup
New York
$3K – – –
SFS
180
Sowell Financial Services
Arkansas
$2K – – –
CHC
181
City Holding Co
West Virginia
$2K +$1.63K +119 New
NFG
182
Next Financial Group
Texas
$1K -$1.37K -100 -57%
MRCM
183
M&R Capital Management
New Jersey
$1K – – –
WFI
184
West Family Investments
California
$384 – – –
Lord, Abbett & Co
185
Lord, Abbett & Co
New Jersey
– -$10.1M -763,198 Closed
CFB
186
Cullen/Frost Bankers
Texas
– -$2.59M -195,472 Closed
RCM
187
Radcliffe Capital Management
Pennsylvania
– -$1.99M -150,000 Closed
BIM
188
Bogle Investment Management
Massachusetts
– -$1.07M -80,827 Closed
ECM
189
ExodusPoint Capital Management
New York
– -$490K -37,012 Closed
PI
190
PEAK6 Investments
Illinois
– -$336K -25,377 Closed
Goldman Sachs
191
Goldman Sachs
New York
– -$299K -22,592 Closed
CCM
192
Canal Capital Management
Virginia
– -$273K -20,632 Closed
HF
193
HRT Financial
New York
– -$194K -14,674 Closed
TI
194
Trexquant Investment
Connecticut
– -$183K -13,825 Closed
CC
195
Centiva Capital
New York
– -$172K -12,967 Closed
Cambridge Investment Research Advisors
196
Cambridge Investment Research Advisors
Iowa
– -$166K -12,539 Closed
SWPG
197
Strategic Wealth Partners Group
Illinois
– -$146K -11,041 Closed
SPC
198
Sigma Planning Corp
Michigan
– -$135K -10,204 Closed
BAM
199
Belpointe Asset Management
Nevada
– -$124K -9,400 Closed
TRCT
200
Tower Research Capital (TRC)
New York
– -$110K -8,271 Closed
5 6 7
8
9

GBDC Hedge Fund Activity: Q4 2020 in Review

185 of the 5,652 institutional investors tracked by Wall St. Rank reported a position in Golub Capital BDC (GBDC) for Q4 2020, worth a combined $1.03B — up 25% from $821M a quarter earlier.

Buyers outnumbered sellers: 39 funds opened new GBDC positions and 21 closed out — a net gain of 18 holders — while 68 added to existing stakes and 50 trimmed.

The largest buyer was Cerity Partners, adding an estimated $25.2M. The largest seller was Lord, Abbett & Co, exiting entirely with an estimated $10.1M sold.

  • 185 institutional investors held Golub Capital BDC (GBDC) as of Q4 2020, up from 169 in Q3 2020.
  • Funds reported $1.03B of Golub Capital BDC stock for Q4 2020, up 25% quarter-over-quarter.
  • 39 funds opened new Golub Capital BDC positions in Q4 2020 and 21 closed out, a net change of +18 holders.
  • The largest Golub Capital BDC buyer in Q4 2020 was Cerity Partners, an estimated $25.2M added.
  • The largest Golub Capital BDC seller in Q4 2020 was Lord, Abbett & Co, an estimated $10.1M sold.

Based on aggregated 13F filings for Q4 2020.