Golub Capital BDC
GBDC
320 hedge funds and large institutions have $1.59B invested in Golub Capital BDC in 2025 Q2 according to their latest regulatory filings, with 35 funds opening new positions, 128 increasing their positions, 103 reducing their positions, and 45 closing their positions.
973% more call options, than puts
Call options by funds: $2.54M | Put options by funds: $237K
24% more repeat investments, than reductions
Existing positions increased: 128 | Existing positions reduced: 103
3.68% less ownership
Funds ownership: 41.76% → 38.08% (-3.7%)
5% less funds holding
Funds holding: 337 → 320 (-17)
6% less capital invested
Capital invested by funds: $1.69B → $1.59B (-$106M)
22% less first-time investments, than exits
New positions opened: 35 | Existing positions closed: 45
54% less funds holding in top 10
Funds holding in top 10: 13 → 6 (-7)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
UBS Group
Zurich,
Switzerland
|
+$16.7M |
| 2 |
GAM
Generali Asset Management
Trieste,
Italy
|
+$10.4M |
| 3 |
Bank of Montreal
Toronto,
Ontario, Canada
|
+$7.18M |
| 4 |
SO
STRS Ohio
Columbus,
Ohio
|
+$5.92M |
| 5 |
BlackRock
New York
|
+$5.4M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Corient Private Wealth
Miami,
Florida
|
-$38.9M |
| 2 |
PGH
Partners Group Holding
Baar-Zug,
Switzerland
|
-$30.3M |
| 3 |
Rockefeller Capital Management
New York
|
-$17.9M |
| 4 |
TG
TCW Group
Los Angeles,
California
|
-$8.6M |
| 5 |
Baillie Gifford & Co
Edinburgh,
United Kingdom
|
-$8.3M |
GBDC Hedge Fund Activity: Q2 2025 in Review
320 of the 7,613 institutional investors tracked by Wall St. Rank reported a position in Golub Capital BDC (GBDC) for Q2 2025, worth a combined $1.59B — down 6.2% from $1.69B a quarter earlier.
Sellers outnumbered buyers: 45 funds closed out of GBDC and 35 opened new positions — a net loss of 10 holders — while 103 trimmed existing stakes and 128 added.
The largest buyer was UBS Group, adding an estimated $16.7M. The largest seller was Corient Private Wealth, cutting an estimated $38.9M.
- 320 institutional investors held Golub Capital BDC (GBDC) as of Q2 2025, down from 337 in Q1 2025.
- Funds reported $1.59B of Golub Capital BDC stock for Q2 2025, down 6.2% quarter-over-quarter.
- 35 funds opened new Golub Capital BDC positions in Q2 2025 and 45 closed out, a net change of -10 holders.
- The largest Golub Capital BDC buyer in Q2 2025 was UBS Group, an estimated $16.7M added.
- The largest Golub Capital BDC seller in Q2 2025 was Corient Private Wealth, an estimated $38.9M sold.
Based on aggregated 13F filings for Q2 2025.