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Nuveen Churchill Direct Lending
NCDL

39 hedge funds and large institutions have $78.7M invested in Nuveen Churchill Direct Lending in 2024 Q2 according to their latest regulatory filings, with 20 funds opening new positions, 13 increasing their positions, 4 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

300% more first-time investments, than exits

New positions opened: 20 | Existing positions closed: 5

225% more repeat investments, than reductions

Existing positions increased: 13 | Existing positions reduced: 4

63% more funds holding

Funds holding: 24 → 39 (+15)

59% more capital invested

Capital invested by funds: $49.6M → $78.7M (+$29.2M)

3.21% more ownership

Funds ownership: 5.01% → 8.22% (+3.2%)

Holders
39
Holders Change
+15
Holders Change %
+62.5%
% of All Funds
0.56%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
20
Increased
13
Reduced
4
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Corient Private Wealth
Corient Private Wealth
Florida
+$12.7M
2
Stifel Financial
Stifel Financial
Missouri
+$9.48M
3
AM
Ares Management
California
+$1.31M
4
OWA
Opal Wealth Advisors
New York
+$1.21M
5
SCA
Snowden Capital Advisors
New York
+$1.11M

Top Sellers

Rank Fund Capital Flow
1
MIM
Monashee Investment Management
Massachusetts
-$1.73M
2
Balyasny Asset Management
Balyasny Asset Management
Illinois
-$1.05M
3
Capstone Investment Advisors
Capstone Investment Advisors
New York
-$735K
4
Teacher Retirement System of Texas
Teacher Retirement System of Texas
Texas
-$542K
5
UBS Group
UBS Group
Switzerland
-$387K
Name Holding Trade Value Shares
Change 		Change in
Stake
N
1
Nuveen
North Carolina
$28.9M – – –
Corient Private Wealth
2
Corient Private Wealth
Florida
$12.6M +$12.7M +721,458 New
Stifel Financial
3
Stifel Financial
Missouri
$9.37M +$9.48M +538,494 New
CCM
4
Callodine Capital Management
Massachusetts
$5.22M +$956K +54,331 +22%
AM
5
Ares Management
California
$2.32M +$1.31M +74,622 +128%
Morgan Stanley
6
Morgan Stanley
New York
$2.25M +$834K +47,371 +58%
CIM
7
Confluence Investment Management
Missouri
$2.04M +$248K +14,068 +14%
Millennium Management
8
Millennium Management
New York
$1.53M +$251K +14,290 +19%
MFG
9
Merit Financial Group
Georgia
$1.44M – – –
Marshall Wace
10
Marshall Wace
United Kingdom
$1.38M +$185K +10,493 +15%
HWAM
11
Hennion & Walsh Asset Management
New Jersey
$1.37M +$898K +51,023 +182%
Citadel Advisors
12
Citadel Advisors
Florida
$1.25M +$1.06M +60,408 +517%
OWA
13
Opal Wealth Advisors
New York
$1.19M +$1.21M +68,507 New
SCA
14
Snowden Capital Advisors
New York
$1.13M +$1.11M +62,930 New
Acadian Asset Management
15
Acadian Asset Management
Massachusetts
$871K +$888K +50,472 New
Ameriprise
16
Ameriprise
Minnesota
$769K +$778K +44,192 New
Renaissance Technologies
17
Renaissance Technologies
New York
$543K +$549K +31,200 New
AWM
18
Ariadne Wealth Management
California
$520K +$510K +28,997 New
Two Sigma Investments
19
Two Sigma Investments
New York
$514K +$520K +29,567 New
Wealth Enhancement Advisory Services
20
Wealth Enhancement Advisory Services
Minnesota
$454K +$153K +8,705 +50%
Bank of America
21
Bank of America
North Carolina
$363K +$279K +15,857 +317%
Two Sigma Advisers
22
Two Sigma Advisers
New York
$336K +$340K +19,300 New
Qube Research & Technologies (QRT)
23
Qube Research & Technologies (QRT)
United Kingdom
$313K +$7.2K +409 +2%
SA
24
SpiderRock Advisors
Delaware
$303K +$306K +17,386 New
TP
25
Tranquility Partners
Tennessee
$277K +$280K +15,925 New
1
2

NCDL Hedge Fund Activity: Q2 2024 in Review

39 of the 6,925 institutional investors tracked by Wall St. Rank reported a position in Nuveen Churchill Direct Lending (NCDL) for Q2 2024, worth a combined $78.7M — up 59% from $49.6M a quarter earlier.

Buyers outnumbered sellers: 20 funds opened new NCDL positions and 5 closed out — a net gain of 15 holders — while 13 added to existing stakes and 4 trimmed.

The largest buyer was Corient Private Wealth, opening a new position worth an estimated $12.7M. The largest seller was Monashee Investment Management, exiting entirely with an estimated $1.73M sold.

  • 39 institutional investors held Nuveen Churchill Direct Lending (NCDL) as of Q2 2024, up from 24 in Q1 2024.
  • Funds reported $78.7M of Nuveen Churchill Direct Lending stock for Q2 2024, up 59% quarter-over-quarter.
  • 20 funds opened new Nuveen Churchill Direct Lending positions in Q2 2024 and 5 closed out, a net change of +15 holders.
  • The largest Nuveen Churchill Direct Lending buyer in Q2 2024 was Corient Private Wealth, an estimated $12.7M added.
  • The largest Nuveen Churchill Direct Lending seller in Q2 2024 was Monashee Investment Management, an estimated $1.73M sold.

Based on aggregated 13F filings for Q2 2024.