Golub Capital BDC
GBDC
355 hedge funds and large institutions have $1.62B invested in Golub Capital BDC in 2025 Q4 according to their latest regulatory filings, with 71 funds opening new positions, 107 increasing their positions, 122 reducing their positions, and 42 closing their positions.
367% more call options, than puts
Call options by funds: $794K | Put options by funds: $170K
69% more first-time investments, than exits
New positions opened: 71 | Existing positions closed: 42
40% more funds holding in top 10
Funds holding in top 10: 5 → 7 (+2)
8% more funds holding
Funds holding: 330 → 355 (+25)
5% more capital invested
Capital invested by funds: $1.54B → $1.62B (+$84.4M)
3.5% more ownership
Funds ownership: 39.84% → 43.35% (+3.5%)
12% less repeat investments, than reductions
Existing positions increased: 107 | Existing positions reduced: 122
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
JP Morgan Chase
New York
|
+$19M |
| 2 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
+$16.5M |
| 3 |
Morgan Stanley
New York
|
+$9.94M |
| 4 |
UBS Group
Zurich,
Switzerland
|
+$9.01M |
| 5 |
OAC
OMERS Administration Corp
Toronto,
Ontario, Canada
|
+$8.28M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Corient Private Wealth
Miami,
Florida
|
-$12M |
| 2 |
Millennium Management
New York
|
-$9.6M |
| 3 |
Rockefeller Capital Management
New York
|
-$9.14M |
| 4 |
Franklin Resources
San Mateo,
California
|
-$8.11M |
| 5 |
Citigroup
New York
|
-$4.53M |
GBDC Hedge Fund Activity: Q4 2025 in Review
355 of the 8,263 institutional investors tracked by Wall St. Rank reported a position in Golub Capital BDC (GBDC) for Q4 2025, worth a combined $1.62B — up 5.5% from $1.54B a quarter earlier.
Buyers outnumbered sellers: 71 funds opened new GBDC positions and 42 closed out — a net gain of 29 holders — while 107 added to existing stakes and 122 trimmed.
The largest buyer was JP Morgan Chase, adding an estimated $19M. The largest seller was Corient Private Wealth, cutting an estimated $12M.
- 355 institutional investors held Golub Capital BDC (GBDC) as of Q4 2025, up from 330 in Q3 2025.
- Funds reported $1.62B of Golub Capital BDC stock for Q4 2025, up 5.5% quarter-over-quarter.
- 71 funds opened new Golub Capital BDC positions in Q4 2025 and 42 closed out, a net change of +29 holders.
- The largest Golub Capital BDC buyer in Q4 2025 was JP Morgan Chase, an estimated $19M added.
- The largest Golub Capital BDC seller in Q4 2025 was Corient Private Wealth, an estimated $12M sold.
Based on aggregated 13F filings for Q4 2025.