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Nuveen Churchill Direct Lending
NCDL

81 hedge funds and large institutions have $269M invested in Nuveen Churchill Direct Lending in 2024 Q4 according to their latest regulatory filings, with 34 funds opening new positions, 38 increasing their positions, 4 reducing their positions, and 2 closing their positions.

New
Increased
Maintained
Reduced
Closed

1,600% more first-time investments, than exits

New positions opened: 34 | Existing positions closed: 2

850% more repeat investments, than reductions

Existing positions increased: 38 | Existing positions reduced: 4

62% more funds holding

Funds holding: 50 → 81 (+31)

30% more capital invested

Capital invested by funds: $208M → $269M (+$61.5M)

7.69% more ownership

Funds ownership: 21.75% → 29.44% (+7.7%)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

Holders
81
Holders Change
+31
Holders Change %
+62%
% of All Funds
1.07%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.01%
New
34
Increased
38
Reduced
4
Closed
2
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
JP Morgan Chase
JP Morgan Chase
New York
+$6.25M
2
Millennium Management
Millennium Management
New York
+$5.88M
3
Goldman Sachs
Goldman Sachs
New York
+$5.31M
4
IC
IEQ Capital
California
+$4.9M
5
Wells Fargo
Wells Fargo
California
+$4.41M

Top Sellers

Rank Fund Capital Flow
1
Acadian Asset Management
Acadian Asset Management
Massachusetts
-$1.54M
2
Stifel Financial
Stifel Financial
Missouri
-$446K
3
VT
Vise Technologies
New York
-$405K
4
JSL
JT Stratford LLC
Georgia
-$180K
5
PCA
Pallas Capital Advisors
Massachusetts
-$39.7K
Name Holding Trade Value Shares
Change 		Change in
Stake
BOCH
1
Blue Owl Capital Holdings
New York
$67.8M – – –
Corient Private Wealth
2
Corient Private Wealth
Florida
$45.5M +$4.02M +234,395 +9%
N
3
Nuveen
North Carolina
$27.9M – – –
JP Morgan Chase
4
JP Morgan Chase
New York
$12.6M +$6.25M +364,739 +94%
Stifel Financial
5
Stifel Financial
Missouri
$8.51M -$446K -26,047 -5%
Millennium Management
6
Millennium Management
New York
$7.35M +$5.88M +343,113 +362%
SCA
7
Snowden Capital Advisors
New York
$7.27M +$3.6M +209,823 +100%
OWA
8
Opal Wealth Advisors
New York
$6.72M +$3.52M +205,593 +106%
Goldman Sachs
9
Goldman Sachs
New York
$6.32M +$5.31M +309,523 +460%
CCM
10
Callodine Capital Management
Massachusetts
$5.88M – – –
Morgan Stanley
11
Morgan Stanley
New York
$5.22M +$2.09M +121,644 +64%
IC
12
IEQ Capital
California
$4.8M +$4.9M +285,941 New
Renaissance Technologies
13
Renaissance Technologies
New York
$4.5M +$2.73M +159,100 +146%
Wells Fargo
14
Wells Fargo
California
$4.49M +$4.41M +257,286 +2,468%
Marshall Wace
15
Marshall Wace
United Kingdom
$4.04M +$3.31M +193,188 +404%
HWAM
16
Hennion & Walsh Asset Management
New Jersey
$3.55M +$922K +53,786 +34%
Ameriprise
17
Ameriprise
Minnesota
$3M +$1.03M +60,044 +50%
UBS Group
18
UBS Group
Switzerland
$2.93M +$1.49M +86,729 +99%
Two Sigma Investments
19
Two Sigma Investments
New York
$2.57M +$1.86M +108,677 +244%
GA
20
GraniteShares Advisors
New York
$2.47M +$2.52M +147,155 New
AM
21
Ares Management
California
$2.23M – – –
TI
22
Trexquant Investment
Connecticut
$2.19M +$2.24M +130,629 New
Citadel Advisors
23
Citadel Advisors
Florida
$2.19M +$1.1M +64,023 +97%
CIM
24
Confluence Investment Management
Missouri
$1.99M +$7.56K +441 +0.4%
AWM
25
Aprio Wealth Management
Georgia
$1.87M +$976K +56,916 +104%
1
2 3 4

NCDL Hedge Fund Activity: Q4 2024 in Review

81 of the 7,593 institutional investors tracked by Wall St. Rank reported a position in Nuveen Churchill Direct Lending (NCDL) for Q4 2024, worth a combined $269M — up 30% from $208M a quarter earlier.

Buyers outnumbered sellers: 34 funds opened new NCDL positions and 2 closed out — a net gain of 32 holders — while 38 added to existing stakes and 4 trimmed.

The largest buyer was JP Morgan Chase, adding an estimated $6.25M. The largest seller was Acadian Asset Management, cutting an estimated $1.54M.

  • 81 institutional investors held Nuveen Churchill Direct Lending (NCDL) as of Q4 2024, up from 50 in Q3 2024.
  • Funds reported $269M of Nuveen Churchill Direct Lending stock for Q4 2024, up 30% quarter-over-quarter.
  • 34 funds opened new Nuveen Churchill Direct Lending positions in Q4 2024 and 2 closed out, a net change of +32 holders.
  • The largest Nuveen Churchill Direct Lending buyer in Q4 2024 was JP Morgan Chase, an estimated $6.25M added.
  • The largest Nuveen Churchill Direct Lending seller in Q4 2024 was Acadian Asset Management, an estimated $1.54M sold.

Based on aggregated 13F filings for Q4 2024.