BlackRock Capital Allocation Term Trust

BCAT • NYSE

BlackRock Capital Allocation Term Trust is a publicly traded company on NYSE. As of Q3 2025, 82 institutional investors hold shares in this company, with total holdings valued at $234.5M. MORGAN STANLEY is the largest holder with a position valued at $66.3M.

Websiteblackrock.com

Overview

Overview of institutional ownership in BCAT as of Q3 2025

All Institutions

Institutions: 82
Value Held: $234.5M
Shares Held: 15.9M
Avg Position: $2.9M
Median Position: $260.8K

Hedge Funds

Hedge Funds: 4
Value Held: $17.1M
Shares Held: 1.2M
Avg Position: $4.3M
Median Position: $577.0K

Biggest Investors

Institutions with the largest positions in BCAT as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$66.3M 0.00% of portfolio	0.00% 4.5M shares	Q4 2022 Held for 2y 11m	$1.65T
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$31.3M 0.01% of portfolio	0.00% 2.1M shares	Q4 2022 Held for 2y 11m	$488.50B
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$20.6M 0.00% of portfolio	0.00% 1.4M shares	Q4 2022 Held for 2y 11m	$1.33T
Invesco Ltd. ETF Provider	Brian Christopher Hartigan CEO	$19.6M 0.00% of portfolio	0.00% 1.3M shares	Q4 2022 Held for 2y 11m	$633.08B
UBS Group AG Institution	Sergio P. Ermotti CEO	$16.8M 0.00% of portfolio	0.00% 1.1M shares	Q4 2022 Held for 2y 11m	$511.54B
S Saba Capital Management, L.P. Hedge Fund•Multi-Strategy	Boaz Ronald Weinstein Founder	$15.9M 0.54% of portfolio	0.00% 1.1M shares	Q4 2022 Held for 2y 11m	$3.0B
S STIFEL FINANCIAL CORP Long Only Manager	Adam Vartan Topalian CIO	$7.6M 0.01% of portfolio	0.00% 514.9K shares	Q4 2022 Held for 2y 11m	$109.37B
RAYMOND JAMES FINANCIAL INC RIA/Wealth	Steven Robert Marcus CEO	$6.9M 0.00% of portfolio	0.00% 467.4K shares	Q4 2024 Held for 11 months	$310.43B
Rockefeller Capital Management L.P. Long Only Manager	Gregory James Fleming CEO	$6.8M 0.01% of portfolio	0.00% 462.8K shares	Q2 2023 Held for 2y 5m	$49.6B
L LPL Financial LLC Institution	-	$5.5M 0.00% of portfolio	0.00% 370.4K shares	Q4 2022 Held for 2y 11m	$340.07B

Net Capital Flow

Institutional buying and selling activity for BCAT in Q3 2025

Traded: −$85.2M
Buyers: 49
Sellers: 27
Total Bought: +$28.7M
Total Sold: −$113.9M
Avg Position: $2.5M

Biggest Buyers

Institution	Net Bought	Current Position
MORGAN STANLEY RIA/Wealth	+$10.0M +672.8K shares	$66.3M 4.5M shares
WELLS FARGO & COMPANY/MN Institution	+$9.2M +622.3K shares	$31.3M 2.1M shares
L LPL Financial LLC Institution	+$1.5M +102.0K shares	$5.5M 370.4K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	+$1.4M +93.7K shares	$6.9M 467.4K shares
Invesco Ltd. ETF Provider	+$803.1K +54.3K shares	$19.6M 1.3M shares
Fountainhead AM, LLC RIA/Wealth	+$795.5K +53.8K shares	$2.1M 142.1K shares
P PFG Investments, LLC Institution	+$750.3K +50.7K shares	$750.3K 50.7K shares
Advisors Asset Management, Inc. ETF Provider	+$679.1K +45.9K shares	$5.0M 339.3K shares
Mount Yale Investment Advisors, LLC RIA/Wealth	+$606.4K +41.0K shares	$606.4K 41.0K shares
O OneAscent Family Office, LLC Institution	+$369.8K +25.0K shares	$369.8K 25.0K shares

Biggest Sellers

Institution	Net Sold	Current Position
S Saba Capital Management, L.P. Hedge Fund•Multi-Strategy	−$99.5M −6.7M shares	$15.9M 1.1M shares
RIVERNORTH CAPITAL MANAGEMENT, LLC Hedge Fund•Multi-Strategy	−$4.5M −297.9K shares	Sold Off 0 shares
UBS Group AG Institution	−$2.9M −198.8K shares	$16.8M 1.1M shares
PREVAIL INNOVATIVE WEALTH ADVISORS, LLC RIA/Wealth	−$1.7M −109.6K shares	Sold Off 0 shares
J JANE STREET GROUP, LLC Institution	−$1.5M −98.3K shares	Sold Off 0 shares
Ballast, Inc. RIA/Wealth	−$500.6K −33.1K shares	Sold Off 0 shares
BANK OF AMERICA CORP /DE/ Institution	−$458.9K −31.0K shares	$20.6M 1.4M shares
S STIFEL FINANCIAL CORP Long Only Manager	−$419.5K −28.4K shares	$7.6M 514.9K shares
Rockefeller Capital Management L.P. Long Only Manager	−$400.0K −27.0K shares	$6.8M 462.8K shares
A Advisor Group Holdings, Inc. Institution	−$372.2K −25.0K shares	$1.4M 94.9K shares

Entry and Exit Activity

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

New Positions: 9
New Value: $1.8M
Exited Positions: 12
Exited Value: $9.1M

New Positions

Institution	Position Value
Mount Yale Investment Advisors, LLC RIA/Wealth	$606.4K 41.0K shares
O OneAscent Family Office, LLC Institution	$369.8K 25.0K shares
Prosperity Consulting Group, LLC RIA/Wealth	$250.0K 16.9K shares
Lido Advisors, LLC RIA/Wealth	$198.9K 13.4K shares
R RSM US WEALTH MANAGEMENT LLC RIA/Wealth	$179.4K 12.1K shares
Creative Planning RIA/Wealth	$165.4K 11.2K shares
N N.E.W. Advisory Services LLC RIA/Wealth	$17.7K 1.2K shares
NBC SECURITIES, INC. RIA/Wealth	$16.6K 1.1K shares
HIGHLINE WEALTH PARTNERS LLC RIA/Wealth	$7.4K 500.0 shares

Exited Positions

Institution	Previous Position
RIVERNORTH CAPITAL MANAGEMENT, LLC Hedge Fund•Multi-Strategy	$4.5M 297.9K shares
PREVAIL INNOVATIVE WEALTH ADVISORS, LLC RIA/Wealth	$1.7M 109.6K shares
J JANE STREET GROUP, LLC Institution	$1.5M 98.3K shares
Ballast, Inc. RIA/Wealth	$500.6K 33.1K shares
Kovitz Investment Group Partners, LLC RIA/Wealth	$275.4K 18.2K shares
G Green Square Asset Management, LLC Institution	$237.1K 15.7K shares
D D. E. Shaw & Co., Inc. Institution	$214.2K 14.1K shares
H Hilltop Holdings Inc. Institution	$168.1K 11.1K shares
Red Tortoise LLC RIA/Wealth	$33.3K 2.2K shares
Geneos Wealth Management Inc. RIA/Wealth	$31.0K 2.0K shares

Options Activity

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

Call Positions: 0
Call Value: -
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Keebeck Wealth Management, LLC RIA/Wealth	Bruce Keebeck Lee CEO	0.64% $5.4M	0.00% 363.9K shares	Q1 2024 Held for 1y 8m	$841.8M
S Saba Capital Management, L.P. Hedge Fund•Multi-Strategy	Boaz Ronald Weinstein Founder	0.54% $15.9M	0.00% 1.1M shares	Q4 2022 Held for 2y 11m	$3.0B
WINEBRENNER CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	Earl George Winebrenner Managing Partner	0.49% $680.3K	0.00% 46.0K shares	Q2 2025 Held for 5 months	$137.9M
O OneAscent Family Office, LLC Institution	-	0.31% $369.8K	0.00% 25.0K shares	Q3 2025 Held for 2 months	$119.7M
Fountainhead AM, LLC RIA/Wealth	Joseph Halpern CCO	0.28% $2.1M	0.00% 142.1K shares	Q3 2023 Held for 2y 2m	$761.7M
J Joseph P. Lucia & Associates, LLC RIA/Wealth	Joseph Paul Lucia Managing Partner	0.19% $511.4K	0.00% 34.6K shares	Q4 2024 Held for 11 months	$264.0M
Camelot Portfolios, LLC RIA/Wealth	Darren Thaddaeus Munn CEO	0.17% $288.4K	0.00% 19.5K shares	Q4 2022 Held for 2y 11m	$168.3M
Advisors Asset Management, Inc. ETF Provider	Scott Irvin Colyer CEO	0.09% $5.0M	0.00% 339.3K shares	Q4 2022 Held for 2y 11m	$5.9B
Shaker Financial Services, LLC RIA/Wealth	Kathryn Shaker Baummer Partner	0.08% $229.2K	0.00% 15.5K shares	Q4 2024 Held for 11 months	$291.6M
Perennial Investment Advisors, LLC RIA/Wealth	Anthony Seo Lee CCO	0.07% $811.5K	0.00% 54.9K shares	Q4 2024 Held for 11 months	$1.2B

Hedge Fund Spotlight

Discover hedge funds investing in BCAT

WINEBRENNER CAPITAL MANAGEMENT LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerEarl George Winebrenner

Portfolio Value: $137.9M
Positions: 133
Last Reported: Q3 2025

Sector Allocation

Position in BlackRock Capital Allocation Term Trust

Market Value: $680.3K
Shares Held: 46.0K
Portfolio Weight: 0.49%
Owned Since: 2025-Q2

Top Holding	Sector	Market Value	Weight
1 DFCF Dimensional Core Fixed Income DFCF	ETF ETF	$6.4M	4.66%
2 Nvidia NVDA	Semiconductors Technology	$6.3M	4.58%
3 Pacer Pacific Asset Floating Rate High Income FLRT	ETF ETF	$5.6M	4.08%

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