- Quarter end
- 31 Dec 2025
- the date the book describes
- Filed
- 27 Oct 2026
- latest of these filings; the earliest 4 Feb 2026
- Managers listing it
- 23
- at least, of 95 tracked, among listed positions
- Comparable managers
- 92
- filed both Q3 2025 and Q4 2025; 6 listed it in both
- Shares listed
- 11,401,756
- combined, among listed positions
- Reported value
- $1.3bn
- combined, at the quarter end
Among the 92 comparable managers: 16 buyers (opened or added shares) and 11 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was -396,513.
Managers listing BDC in Q4 2025
23 of 23 holders
Largest increases and reductions, by shares
Increases
- T. Rowe Price Associates Incexisting position · 3,225,244 shares now+663,241
- Wellington Management Group LLPexisting position · 1,685,750 shares now+219,695
- Arrowstreet Capital LPexisting position · 240,643 shares now+95,614
- Citadel Advisors LLCexisting position · 73,257 shares now+68,477
- Jane Street Group LLCexisting position · 82,222 shares now+28,111
Reductions
- Fidelity (FMR LLC)existing position · 4,583,095 shares now-1,359,868
- Invesco Ltdexisting position · 925,253 shares now-90,398
- Renaissance Technologies LLCexisting position · 242,255 shares now-47,100
- Man Group PLCexisting position · 7,875 shares now-4,073
- First Eagle Investment Management LLCexisting position · 80,037 shares now-3,669
New positions and exits
New (6)
Exited (4)
- Verition Fund Management LLCwas $3.1m
- Brevan Howard Capital Management LPwas $1.1m
- Balyasny Asset Management LLCwas $846k
- ExodusPoint Capital Management LPwas $204k
Ownership over time
Tracked managers listing it, at least.
| Quarter | Holders | Reported value | Buyers | Sellers |
|---|---|---|---|---|
| Q2 2013 | 6 | $409m | n.a. | n.a. |
| Q3 2013 | 4 | $504m | n.a. | n.a. |
| Q4 2013 | 5 | $517m | n.a. | n.a. |
| Q1 2014 | 5 | $521m | n.a. | n.a. |
| Q2 2014 | 4 | $561m | n.a. | n.a. |
| Q3 2014 | 4 | $471m | n.a. | n.a. |
| Q4 2014 | 5 | $750m | n.a. | n.a. |
| Q1 2015 | 5 | $835m | n.a. | n.a. |
| Q2 2015 | 4 | $572m | n.a. | n.a. |
| Q3 2015 | 3 | $368m | n.a. | n.a. |
| Q4 2015 | 2 | $392m | n.a. | n.a. |
| Q1 2016 | 2 | $463m | n.a. | n.a. |
| Q2 2016 | 2 | $409m | n.a. | n.a. |
| Q3 2016 | 3 | $410m | n.a. | n.a. |
| Q4 2016 | 5 | $539m | n.a. | n.a. |
| Q1 2017 | 4 | $322m | n.a. | n.a. |
| Q2 2017 | 5 | $720m | n.a. | n.a. |
| Q3 2017 | 4 | $925m | n.a. | n.a. |
| Q4 2017 | 5 | $717m | n.a. | n.a. |
| Q1 2018 | 4 | $641m | n.a. | n.a. |
| Q2 2018 | 4 | $606m | n.a. | n.a. |
| Q3 2018 | 3 | $698m | n.a. | n.a. |
| Q4 2018 | 5 | $227m | n.a. | n.a. |
| Q1 2019 | 6 | $615m | n.a. | n.a. |
| Q2 2019 | 5 | $695m | n.a. | n.a. |
| Q3 2019 | 5 | $585m | n.a. | n.a. |
| Q4 2019 | 5 | $669m | n.a. | n.a. |
| Q1 2020 | 4 | $416m | n.a. | n.a. |
| Q2 2020 | 3 | $140m | n.a. | n.a. |
| Q3 2020 | 2 | $96m | n.a. | n.a. |
| Q4 2020 | 4 | $116m | n.a. | n.a. |
| Q1 2021 | 2 | $111m | n.a. | n.a. |
| Q2 2021 | 1 | $132m | n.a. | n.a. |
| Q3 2021 | 2 | $381m | n.a. | n.a. |
| Q4 2021 | 1 | $155m | n.a. | n.a. |
| Q1 2022 | 1 | $108m | n.a. | n.a. |
| Q2 2022 | 3 | $125m | n.a. | n.a. |
| Q3 2022 | 4 | $120m | n.a. | n.a. |
| Q4 2022 | 5 | $127m | n.a. | n.a. |
| Q1 2023 | 4 | $144m | n.a. | n.a. |
| Q2 2023 | 5 | $213m | n.a. | n.a. |
| Q3 2023 | 4 | $187m | n.a. | n.a. |
| Q4 2023 | 3 | $129m | 1 | 2 |
| Q1 2024 | 3 | $336m | 3 | 0 |
| Q2 2024 | 4 | $380m | 2 | 2 |
| Q3 2024 | 6 | $933m | 2 | 4 |
| Q4 2024 | 7 | $866m | 3 | 4 |
| Q1 2025 | 6 | $711m | 5 | 1 |
| Q2 2025 | 6 | $885m | 3 | 3 |
| Q3 2025 | 6 | $1.2bn | 4 | 4 |
| Q4 2025 | 6 | $1.1bn | 16 | 11 |
| Q1 2026 | 5 | $604m | 23 | 10 |
| Q2 2026 | 6 | $662m | 22 | 14 |
Compare with…
Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.
BDC and LIN →BDC and GLW →BDC and HWM →Choose a stock to compare with BDC →
How much of the picture this is
A 13F is a manager’s long US-listed equity book at a quarter end, filed up to 45 days later. It shows no shorts, cash, bonds or performance, and it is never today’s portfolio. Large books are listed to their largest positions, so a manager missing from this table may still hold a small position below that line. These are 95 tracked managers, not the institutional market.
Which funds own BDC, latest filings →Back to the 13F Explorer →