Nuveen Churchill Direct Lending
NCDL
68 hedge funds and large institutions have $195M invested in Nuveen Churchill Direct Lending in 2026 Q2 according to their latest regulatory filings, with 13 funds opening new positions, 19 increasing their positions, 24 reducing their positions, and 11 closing their positions.
18% more first-time investments, than exits
New positions opened: 13 | Existing positions closed: 11
1% more funds holding
Funds holding: 67 → 68 (+1)
0.95% more ownership
Funds ownership: 30.86% → 31.81% (+0.95%)
1% more capital invested
Capital invested by funds: $194M → $195M (+$1.36M)
21% less repeat investments, than reductions
Existing positions increased: 19 | Existing positions reduced: 24
33% less funds holding in top 10
Funds holding in top 10: 3 → 2 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CAM
Cresset Asset Management
Chicago,
Illinois
|
+$5.58M |
| 2 |
AM
Ares Management
Los Angeles,
California
|
+$5.12M |
| 3 |
UBS Group
Zurich,
Switzerland
|
+$4.21M |
| 4 |
CWM
Centurion Wealth Management
Mclean,
Virginia
|
+$4.16M |
| 5 |
VanEck Associates
New York
|
+$3.39M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
DCP
Diameter Capital Partners
New York
|
-$10.3M |
| 2 |
BAMF
BI Asset Management Fondsmaeglerselskab
Kobenhavn,
Denmark
|
-$1.68M |
| 3 |
Corient Private Wealth
Miami,
Florida
|
-$1.59M |
| 4 |
Millennium Management
New York
|
-$1.43M |
| 5 |
Jane Street
New York
|
-$1.24M |
NCDL Hedge Fund Activity: Q2 2026 in Review
68 of the 8,305 institutional investors tracked by Wall St. Rank reported a position in Nuveen Churchill Direct Lending (NCDL) for Q2 2026, worth a combined $195M — up 0.7% from $194M a quarter earlier.
Buyers outnumbered sellers: 13 funds opened new NCDL positions and 11 closed out — a net gain of 2 holders — while 19 added to existing stakes and 24 trimmed.
The largest buyer was Cresset Asset Management, adding an estimated $5.58M. The largest seller was Diameter Capital Partners, cutting an estimated $10.3M.
- 68 institutional investors held Nuveen Churchill Direct Lending (NCDL) as of Q2 2026, up from 67 in Q1 2026.
- Funds reported $195M of Nuveen Churchill Direct Lending stock for Q2 2026, up 0.7% quarter-over-quarter.
- 13 funds opened new Nuveen Churchill Direct Lending positions in Q2 2026 and 11 closed out, a net change of +2 holders.
- The largest Nuveen Churchill Direct Lending buyer in Q2 2026 was Cresset Asset Management, an estimated $5.58M added.
- The largest Nuveen Churchill Direct Lending seller in Q2 2026 was Diameter Capital Partners, an estimated $10.3M sold.
Based on aggregated 13F filings for Q2 2026.