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Palmer Square Capital BDC
PSBD

45 hedge funds and large institutions have $201M invested in Palmer Square Capital BDC in 2025 Q4 according to their latest regulatory filings, with 11 funds opening new positions, 12 increasing their positions, 13 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

120% more first-time investments, than exits

New positions opened: 11 | Existing positions closed: 5

15% more funds holding

Funds holding: 39 → 45 (+6)

1.76% more ownership

Funds ownership: 50.17% → 51.93% (+1.8%)

1% more capital invested

Capital invested by funds: $200M → $201M (+$1.78M)

8% less repeat investments, than reductions

Existing positions increased: 12 | Existing positions reduced: 13

20% less funds holding in top 10

Funds holding in top 10: 5 → 4 (-1)

Holders
45
Holders Change
+6
Holders Change %
+15.38%
% of All Funds
0.55%
Holding in Top 10
4
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-20%
% of All Funds
0.05%
New
11
Increased
12
Reduced
13
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
RCM
Rivernorth Capital Management
Florida
+$7.1M
2
Bank of America
Bank of America
North Carolina
+$1.88M
3
Two Sigma Investments
Two Sigma Investments
New York
+$1.36M
4
Citadel Advisors
Citadel Advisors
Florida
+$1.24M
5
Two Sigma Advisers
Two Sigma Advisers
New York
+$1.14M

Top Sellers

Rank Fund Capital Flow
1
Mariner
Mariner
Kansas
-$5.18M
2
BCM
Bienville Capital Management
New York
-$4.35M
3
Morgan Stanley
Morgan Stanley
New York
-$2.91M
4
Fidelity Investments
Fidelity Investments
Massachusetts
-$1.97M
5
Marshall Wace
Marshall Wace
United Kingdom
-$958K
Name Holding Trade Value Shares
Change 		Change in
Stake
TRCT
51
Tower Research Capital (TRC)
New York
– -$1.23K -100 Closed
1 2
3

PSBD Hedge Fund Activity: Q4 2025 in Review

45 of the 8,225 institutional investors tracked by Wall St. Rank reported a position in Palmer Square Capital BDC (PSBD) for Q4 2025, worth a combined $201M — up 0.89% from $200M a quarter earlier.

Buyers outnumbered sellers: 11 funds opened new PSBD positions and 5 closed out — a net gain of 6 holders — while 12 added to existing stakes and 13 trimmed.

The largest buyer was Rivernorth Capital Management, opening a new position worth an estimated $7.1M. The largest seller was Mariner, cutting an estimated $5.18M.

  • 45 institutional investors held Palmer Square Capital BDC (PSBD) as of Q4 2025, up from 39 in Q3 2025.
  • Funds reported $201M of Palmer Square Capital BDC stock for Q4 2025, up 0.89% quarter-over-quarter.
  • 11 funds opened new Palmer Square Capital BDC positions in Q4 2025 and 5 closed out, a net change of +6 holders.
  • The largest Palmer Square Capital BDC buyer in Q4 2025 was Rivernorth Capital Management, an estimated $7.1M added.
  • The largest Palmer Square Capital BDC seller in Q4 2025 was Mariner, an estimated $5.18M sold.

Based on aggregated 13F filings for Q4 2025.