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Golub Capital BDC

337 hedge funds and large institutions have $1.69B invested in Golub Capital BDC in 2025 Q1 according to their latest regulatory filings, with 50 funds opening new positions, 150 increasing their positions, 83 reducing their positions, and 34 closing their positions.

New
Increased
Maintained
Reduced
Closed

118% more call options, than puts

Call options by funds: $1.73M | Put options by funds: $794K

81% more repeat investments, than reductions

Existing positions increased: 150 | Existing positions reduced: 83

47% more first-time investments, than exits

New positions opened: 50 | Existing positions closed: 34

18% more funds holding in top 10

Funds holding in top 10: 1113 (+2)

7% more capital invested

Capital invested by funds: $1.58B → $1.69B (+$112M)

3% more funds holding

Funds holding: 326337 (+11)

2.68% more ownership

Funds ownership: 39.11%41.78% (+2.7%)

Holders
337
Holders Change
+11
Holders Change %
+3.37%
% of All Funds
4.52%
Holding in Top 10
13
Holding in Top 10 Change
+2
Holding in Top 10 Change %
+18.18%
% of All Funds
0.17%
New
50
Increased
150
Reduced
83
Closed
34
Calls
$1.73M
Puts
$794K
Net Calls
+$936K
Net Calls Change
+$1.75M
Name Holding Trade Value Shares
Change
Change in
Stake
SO
1
STRS Ohio
Ohio
$233M +$5.93M +386,499 +3%
VanEck Associates
2
VanEck Associates
New York
$65.1M -$3.39M -221,124 -5%
Corient Private Wealth
3
Corient Private Wealth
Florida
$63.6M -$10.1M -658,834 -14%
AIM
4
Allen Investment Management
New York
$62.6M +$6.77M +441,050 +12%
NFC
5
Northeast Financial Consultants
Connecticut
$62.4M +$23.8M +1,552,223 +60%
Rockefeller Capital Management
6
Rockefeller Capital Management
New York
$61.1M +$18.2M +1,184,500 +42%
Bank of America
7
Bank of America
North Carolina
$51.8M +$18.6M +1,210,172 +55%
SIS
8
Sound Income Strategies
Florida
$48.2M +$1.97M +128,457 +4%
LC
9
Lindbrook Capital
California
$45.7M -$387K -25,233 -0.8%
SMA
10
Sage Mountain Advisors
Georgia
$41.6M +$3.63M +236,613 +9%
AM
11
Ares Management
California
$37.8M -$5.3M -345,458 -12%
Morgan Stanley
12
Morgan Stanley
New York
$36.3M -$45.1K -2,939 -0.1%
JP Morgan Chase
13
JP Morgan Chase
New York
$35.5M -$641K -41,797 -2%
OAC
14
OMERS Administration Corp
Ontario, Canada
$34.7M +$884K +57,631 +3%
PGH
15
Partners Group Holding
Switzerland
$30.3M +$2.77M +180,446 +10%
Legal & General Group
16
Legal & General Group
United Kingdom
$28.2M +$784K +51,073 +3%
GAM
17
Generali Asset Management
Italy
$27.3M +$27.6M +1,800,000 New
Millennium Management
18
Millennium Management
New York
$23.1M -$5.84M -380,696 -20%
Cerity Partners
19
Cerity Partners
New York
$22.6M -$1.45M -94,630 -6%
AL
20
Arnhold LLC
New York
$21.9M +$537K +35,000 +2%
MCM
21
MAI Capital Management
Ohio
$20.8M +$404K +26,330 +2%
BlackRock
22
BlackRock
New York
$19.2M +$5.55M +361,908 +40%
UBS Group
23
UBS Group
Switzerland
$19.1M +$12.6M +822,681 +187%
LSV Asset Management
24
LSV Asset Management
Illinois
$18.7M -$1.06M -68,800 -5%
Boston Partners
25
Boston Partners
Massachusetts
$16.7M +$2.82M +183,828 +20%

GBDC Hedge Fund Activity: Q1 2025 in Review

337 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in Golub Capital BDC (GBDC) for Q1 2025, worth a combined $1.69B — up 7.1% from $1.58B a quarter earlier.

Buyers outnumbered sellers: 50 funds opened new GBDC positions and 34 closed out — a net gain of 16 holders — while 150 added to existing stakes and 83 trimmed.

The largest buyer was Generali Asset Management, opening a new position worth an estimated $27.6M. The largest seller was Corient Private Wealth, cutting an estimated $10.1M.

  • 337 institutional investors held Golub Capital BDC (GBDC) as of Q1 2025, up from 326 in Q4 2024.
  • Funds reported $1.69B of Golub Capital BDC stock for Q1 2025, up 7.1% quarter-over-quarter.
  • 50 funds opened new Golub Capital BDC positions in Q1 2025 and 34 closed out, a net change of +16 holders.
  • The largest Golub Capital BDC buyer in Q1 2025 was Generali Asset Management, an estimated $27.6M added.
  • The largest Golub Capital BDC seller in Q1 2025 was Corient Private Wealth, an estimated $10.1M sold.

Based on aggregated 13F filings for Q1 2025.