Kayne Anderson BDC
KBDC
87 hedge funds and large institutions have $532M invested in Kayne Anderson BDC in 2025 Q4 according to their latest regulatory filings, with 28 funds opening new positions, 15 increasing their positions, 25 reducing their positions, and 20 closing their positions.
43% more capital invested
Capital invested by funds: $371M → $532M (+$160M)
40% more first-time investments, than exits
New positions opened: 28 | Existing positions closed: 20
25% more funds holding in top 10
Funds holding in top 10: 4 → 5 (+1)
14.79% more ownership
Funds ownership: 39.45% → 54.24% (+15%)
5% more funds holding
Funds holding: 83 → 87 (+4)
40% less repeat investments, than reductions
Existing positions increased: 15 | Existing positions reduced: 25
Top Buyers
| 1 |
SOMRS
State of Michigan Retirement System
Lansing,
Michigan
|
+$95.7M |
| 2 |
VanEck Associates
New York
|
+$12M |
| 3 |
UBS Group
Zurich,
Switzerland
|
+$6.1M |
| 4 |
Franklin Resources
San Mateo,
California
|
+$4.61M |
| 5 |
Corient Private Wealth
Miami,
Florida
|
+$4.15M |
Top Sellers
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
EW
101
Evoke Wealth
Los Angeles,
California
| – | -$208K | -15,181 | Closed |
|
|
EGA
102
Eagle Global Advisors
Houston,
Texas
| – | -$178K | -13,380 | Closed |
|
|
CC
103
Centiva Capital
New York
| – | -$172K | -12,928 | Closed |
|
|
BHCM
104
Brevan Howard Capital Management
St. Helier,
Jersey
| – | -$156K | -11,700 | Closed |
|
105
CIBC Private Wealth Group
Atlanta,
Georgia
| – | -$111K | -8,346 | Closed |
|
|
AF
106
Allworth Financial
Folsom,
California
| – | -$9.32K | -700 | Closed |
|
|
MFT
107
Moisand Fitzgerald Tamayo
Orlando,
Florida
| – | -$3.9K | -293 | Closed |
|
KBDC Hedge Fund Activity: Q4 2025 in Review
87 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Kayne Anderson BDC (KBDC) for Q4 2025, worth a combined $532M — up 43% from $371M a quarter earlier.
Buyers outnumbered sellers: 28 funds opened new KBDC positions and 20 closed out — a net gain of 8 holders — while 15 added to existing stakes and 25 trimmed.
The largest buyer was State of Michigan Retirement System, opening a new position worth an estimated $95.7M. The largest seller was Merit Financial Group, exiting entirely with an estimated $23.2M sold.
- 87 institutional investors held Kayne Anderson BDC (KBDC) as of Q4 2025, up from 83 in Q3 2025.
- Funds reported $532M of Kayne Anderson BDC stock for Q4 2025, up 43% quarter-over-quarter.
- 28 funds opened new Kayne Anderson BDC positions in Q4 2025 and 20 closed out, a net change of +8 holders.
- The largest Kayne Anderson BDC buyer in Q4 2025 was State of Michigan Retirement System, an estimated $95.7M added.
- The largest Kayne Anderson BDC seller in Q4 2025 was Merit Financial Group, an estimated $23.2M sold.
Based on aggregated 13F filings for Q4 2025.