Golub Capital BDC
GBDC
330 hedge funds and large institutions have $1.54B invested in Golub Capital BDC in 2025 Q3 according to their latest regulatory filings, with 48 funds opening new positions, 132 increasing their positions, 89 reducing their positions, and 34 closing their positions.
1,674% more call options, than puts
Call options by funds: $1.49M | Put options by funds: $84K
48% more repeat investments, than reductions
Existing positions increased: 132 | Existing positions reduced: 89
41% more first-time investments, than exits
New positions opened: 48 | Existing positions closed: 34
3% more funds holding
Funds holding: 320 → 330 (+10)
1.75% more ownership
Funds ownership: 38.09% → 39.84% (+1.8%)
3% less capital invested
Capital invested by funds: $1.59B → $1.54B (-$50.8M)
17% less funds holding in top 10
Funds holding in top 10: 6 → 5 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Corient Private Wealth
Miami,
Florida
|
+$67.1M |
| 2 |
HighTower Advisors
Chicago,
Illinois
|
+$27.4M |
| 3 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
+$7.73M |
| 4 |
SO
STRS Ohio
Columbus,
Ohio
|
+$6.63M |
| 5 |
Brown Advisory
Baltimore,
Maryland
|
+$6.61M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
LCP
LGT Capital Partners
Pfaeffikon,
Switzerland
|
-$10.2M |
| 2 |
Millennium Management
New York
|
-$8.96M |
| 3 |
MHS
M Holdings Securities
Portland,
Oregon
|
-$4.88M |
| 4 |
Morgan Stanley
New York
|
-$4.45M |
| 5 |
EBA
Eagle Bay Advisors
New York
|
-$3.82M |
GBDC Hedge Fund Activity: Q3 2025 in Review
330 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in Golub Capital BDC (GBDC) for Q3 2025, worth a combined $1.54B — down 3.2% from $1.59B a quarter earlier.
Buyers outnumbered sellers: 48 funds opened new GBDC positions and 34 closed out — a net gain of 14 holders — while 132 added to existing stakes and 89 trimmed.
The largest buyer was Corient Private Wealth, adding an estimated $67.1M. The largest seller was LGT Capital Partners, exiting entirely with an estimated $10.2M sold.
- 330 institutional investors held Golub Capital BDC (GBDC) as of Q3 2025, up from 320 in Q2 2025.
- Funds reported $1.54B of Golub Capital BDC stock for Q3 2025, down 3.2% quarter-over-quarter.
- 48 funds opened new Golub Capital BDC positions in Q3 2025 and 34 closed out, a net change of +14 holders.
- The largest Golub Capital BDC buyer in Q3 2025 was Corient Private Wealth, an estimated $67.1M added.
- The largest Golub Capital BDC seller in Q3 2025 was LGT Capital Partners, an estimated $10.2M sold.
Based on aggregated 13F filings for Q3 2025.