Barings BDC

BBDC • NYSE

Barings BDC is a financial - credit services company in the financial services sector on NYSE, led by Eric Lloyd, with a market cap of $949.6M. As of Q3 2025, 44% of shares are held by 208 institutional investors, with BABSON CAPITAL MANAGEMENT LLC as the largest holder at 12.97%.

Chief Executive OfficerEric Lloyd

Market Cap$949.6M

Financial - Credit Services

Financial Services

Employees2.0

Websitebarings.com

Country

United States of America

Overview

Overview of institutional ownership in BBDC as of Q3 2025 with a market cap of $921.2M

All Institutions

Institutions: 208
Value Held: $401.8M
Shares Held: 45.8M
Avg Position: $1.9M
Median Position: $173.3K

Hedge Funds

Hedge Funds: 14
Value Held: $24.9M
Shares Held: 2.8M
Avg Position: $1.8M
Median Position: $470.9K

Ownership Breakdown

Institutional (non-HF)

40.91%

$376.9M

Hedge Funds

2.7%

$24.9M

Retail & Other

56.39%

$519.4M

Based on market cap of $921.2M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in BBDC as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
BABSON CAPITAL MANAGEMENT LLC Insurance Manager	Michael David Freno CEO	$119.5M 2.35% of portfolio	12.97% 13.6M shares	Q3 2018 Held for 7y 2m	$5.1B
ARES MANAGEMENT LLC Private Equity	Michael J (Mi Only) Arougheti CEO	$33.3M 1.53% of portfolio	3.61% 3.8M shares	Q2 2016 Held for 9y 5m	$2.2B
PRIVATE MANAGEMENT GROUP INC RIA/Wealth	Robert Todd Summers President	$28.8M 0.85% of portfolio	3.12% 3.3M shares	Q3 2022 Held for 3y 2m	$3.4B
VAN ECK ASSOCIATES CORP ETF Provider	Jan Frederick Vaneck CEO	$21.7M 0.02% of portfolio	2.36% 2.5M shares	≤ Q2 2013 Held for 12y 5m+	$96.6B
Cresset Asset Management, LLC RIA/Wealth	Jack Alan Ablin Founder	$18.8M 0.07% of portfolio	2.04% 2.1M shares	Q4 2024 Held for 11 months	$25.7B
UBS Group AG Institution	Sergio P. Ermotti CEO	$10.6M 0.00% of portfolio	1.15% 1.2M shares	Q4 2014 Held for 10y 11m	$511.54B
Invesco Ltd. ETF Provider	Brian Christopher Hartigan CEO	$10.2M 0.00% of portfolio	1.10% 1.2M shares	Q4 2023 Held for 1y 11m	$633.08B
Kovitz Investment Group Partners, LLC RIA/Wealth	Mitchell Armin Kovitz CEO	$8.5M 0.03% of portfolio	0.92% 972.3K shares	Q3 2024 Held for 1y 2m	$25.6B
FRANKLIN RESOURCES INC Institution	Gregory E. Johnson CEO	$7.8M 0.00% of portfolio	0.84% 884.8K shares	Q2 2024 Held for 1y 5m	$395.36B
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$7.7M 0.00% of portfolio	0.84% 879.8K shares	≤ Q2 2013 Held for 12y 5m+	$488.50B

Net Capital Flow

Institutional buying and selling activity for BBDC in Q3 2025

Traded: +$15.9M
Buyers: 111
Sellers: 62
Total Bought: +$29.9M
Total Sold: −$14.0M
Avg Position: $1.8M

Biggest Buyers

Institution	Net Bought	Current Position
Cresset Asset Management, LLC RIA/Wealth	+$5.0M +570.6K shares	$18.8M 2.1M shares
B BlackRock, Inc. Institution	+$2.0M +229.1K shares	$7.6M 864.2K shares
S Sumitomo Mitsui Trust Holdings, Inc. Institution	+$1.7M +194.7K shares	$4.3M 486.1K shares
Muzinich & Co., Inc. Long Only Manager	+$1.7M +194.7K shares	$4.3M 486.1K shares
RIVERNORTH CAPITAL MANAGEMENT, LLC Hedge Fund•Multi-Strategy	+$1.7M +191.2K shares	$5.3M 602.5K shares
T TCG Advisory Services, LLC RIA/Wealth	+$1.3M +146.0K shares	$1.3M 146.0K shares
BANK OF AMERICA CORP /DE/ Institution	+$1.2M +136.9K shares	$5.4M 613.2K shares
VAN ECK ASSOCIATES CORP ETF Provider	+$1.2M +136.5K shares	$21.7M 2.5M shares
PRIVATE MANAGEMENT GROUP INC RIA/Wealth	+$1.1M +128.2K shares	$28.8M 3.3M shares
ICON ADVISERS INC/CO Long Only Manager	+$961.0K +109.7K shares	$961.0K 109.7K shares

Biggest Sellers

Institution	Net Sold	Current Position
TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy	−$1.9M −221.6K shares	$7.6M 867.6K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	−$1.6M −182.7K shares	$1.4M 154.5K shares
Trexquant Investment LP Hedge Fund•Quant	−$1.3M −153.0K shares	$1.2M 136.8K shares
Y Y-Intercept Ltd Institution	−$1.3M −142.7K shares	Sold Off 0 shares
Bulldog Investors, LLC Hedge Fund•Activist	−$1.3M −143.1K shares	$590.6K 67.4K shares
MORGAN STANLEY RIA/Wealth	−$772.2K −88.1K shares	$6.8M 773.2K shares
L LEGAL & GENERAL GROUP PLC Institution	−$733.2K −83.7K shares	$5.5M 633.0K shares
Kovitz Investment Group Partners, LLC RIA/Wealth	−$597.6K −68.2K shares	$8.5M 972.3K shares
CONFLUENCE INVESTMENT MANAGEMENT LLC Long Only Manager	−$510.5K −58.3K shares	$3.2M 364.6K shares
CALIBER WEALTH MANAGEMENT, LLC / KS RIA/Wealth	−$498.0K −56.9K shares	$1.3M 153.7K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited BBDC in Q3 2025

New Positions: 17
New Value: $3.6M
Exited Positions: 14
Exited Value: $2.2M

New Positions

Institution	Position Value
T TCG Advisory Services, LLC RIA/Wealth	$1.3M 146.0K shares
Prosperity Consulting Group, LLC RIA/Wealth	$595.4K 68.0K shares
Armis Advisers, LLC RIA/Wealth	$306.6K 35.0K shares
Summit Financial, LLC RIA/Wealth	$293.7K 33.5K shares
SEVEN MILE ADVISORY RIA/Wealth	$229.8K 26.2K shares
T TrueMark Investments, LLC Institution	$179.3K 20.5K shares
S Sunbeam Capital Management, LLC RIA/Wealth	$175.2K 20.0K shares
E EVERGREEN CAPITAL MANAGEMENT LLC Institution	$114.7K 13.1K shares
P PharVision Advisers, LLC Hedge Fund•Long/Short	$105.0K 12.0K shares
CWA Asset Management Group, LLC RIA/Wealth	$95.1K 10.9K shares

Exited Positions

Institution	Previous Position
Y Y-Intercept Ltd Institution	$1.3M 142.7K shares
Quantbot Technologies LLC Hedge Fund•Quant	$235.7K 25.8K shares
Financial Advocates Investment Management RIA/Wealth	$172.3K 18.9K shares
G GUGGENHEIM CAPITAL LLC Institution	$150.3K 16.4K shares
PANORAMIC INVESTMENT ADVISORS, LLC RIA/Wealth	$99.9K 10.9K shares
E Entropy Technologies, LP Hedge Fund•Quant Macro	$96.7K 10.6K shares
CONSULTIVA WEALTH MANAGEMENT, CORP. RIA/Wealth	$27.4K 3.0K shares
A Atlantic Trust Group, LLC Institution	$21.0K 2.3K shares
Ameritas Advisory Services, LLC RIA/Wealth	$17.6K 1.9K shares
T Tower Research Capital LLC Institution	$9.9K 1.1K shares

Options Activity

Institutions with the largest Call and Put options positions in BBDC as of Q3 2025

Call Positions: 2
Call Value: $494.1K
Put Positions: 2
Put Value: $90.0K

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$305.7K 349.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$188.3K 215.0 contracts

Put Positions

Institution	Position Value
W WOLVERINE TRADING, LLC Institution	$90.0K 102.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	- - contracts

Most Committed Institutions

Institutions with BBDC as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
BABSON CAPITAL MANAGEMENT LLC Insurance Manager	Michael David Freno CEO	2.35% $119.5M	12.97% 13.6M shares	Q3 2018 Held for 7y 2m	$5.1B
Muzinich & Co., Inc. Long Only Manager	Justin George Muzinich CEO	1.65% $4.3M	0.46% 486.1K shares	Q4 2014 Held for 10y 11m	$258.0M
ARES MANAGEMENT LLC Private Equity	Michael J (Mi Only) Arougheti CEO	1.53% $33.3M	3.61% 3.8M shares	Q2 2016 Held for 9y 5m	$2.2B
PRIVATE MANAGEMENT GROUP INC RIA/Wealth	Robert Todd Summers President	0.85% $28.8M	3.12% 3.3M shares	Q3 2022 Held for 3y 2m	$3.4B
DIMENSION CAPITAL MANAGEMENT PARTNERS Fund of Funds	Miguel Fernando Duenas President	0.82% $5.6M	0.61% 641.3K shares	Q2 2019 Held for 6y 5m	$685.4M
GREEN SQUARE CAPITAL MANAGEMENT LLC RIA/Wealth	Steven Wayne Sansom CEO	0.39% $3.3M	0.34% 359.3K shares	Q1 2024 Held for 1y 8m	$837.7M
RIVERNORTH CAPITAL MANAGEMENT, LLC Hedge Fund•Multi-Strategy	Patrick William Galley CEO	0.32% $5.3M	0.57% 602.5K shares	Q2 2025 Held for 5 months	$1.7B
Callodine Capital Management, LP Hedge Fund•Long/Short	James Stuart Morrow CEO	0.24% $2.7M	0.29% 304.0K shares	Q2 2020 Held for 5y 5m	$1.1B
Cliffwater LLC Fund of Funds	Stephen Lane Nesbitt CEO	0.23% $1.1M	0.12% 126.8K shares	Q2 2019 Held for 6y 5m	$474.7M
V Virtus Investment Advisers, Inc. Institution	Daphne Tippens Chisolm President	0.22% $753.9K	0.08% 86.1K shares	Q1 2025 Held for 8 months	$348.7M

Hedge Fund Spotlight

Discover hedge funds investing in BBDC

TWO SIGMA ADVISERS, LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerScott David Hoffman

Portfolio Value: $50.0B
Positions: 2,312
Last Reported: Q3 2025

Sector Allocation

Position in Barings BDC

Market Value: $7.6M
Shares Held: 867.6K
Portfolio Weight: 0.02%
Owned Since: 2020-Q4

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