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Asset Manager ← All Institutions

Bulldog Investors, LLP

PARK 80 WEST - PLAZA TWO 250 PEHLE AVE. SUITE 708, SADDLE BROOK, NJ 07663 • 201 556-0092

Q3 2025 · Filed 2025-11-14
Market Value
$344M
+12.2%
Holdings
127
+22
New Purchases
34
Added To
27
Closed
24
Reduced
25
Top 10 Concentration
44.2%
Turnover
45.7%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
OXLC 2.20% 0.00% +2.20% $8M
OTF 1.57% 0.23% +1.34% $5M
MRCC 1.33% 0.00% +1.33% $5M
FSK 1.05% 0.00% +1.05% $4M
VLGEA 1.65% 0.67% +0.98% $6M
BACC 0.89% 0.00% +0.89% $3M
KOYNU 0.73% 0.00% +0.73% $3M
IAE 0.89% 0.18% +0.71% $3M
BCIC 1.54% 0.88% +0.66% $5M
CB 0.66% 0.00% +0.66% $2M
HVMCU 0.65% 0.00% +0.65% $2M
IHD 1.06% 0.42% +0.64% $4M
CCIF 0.56% 0.00% +0.56% $2M
PBBK 0.61% 0.08% +0.53% $2M
TLNCU 0.49% 0.00% +0.49% $2M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
BIGZ 0.00% 1.46% -1.46% $0
LRFC 0.00% 1.45% -1.45% $0
IIF 1.76% 2.74% -0.98% $6M
AFB 2.94% 3.92% -0.98% $10M
CNNE 2.82% 3.68% -0.86% $10M
CCCXU 0.00% 0.84% -0.84% $0
TRC 3.67% 4.37% -0.70% $13M
PGZ 0.58% 1.27% -0.70% $2M
ETHM 0.40% 0.99% -0.60% $1M
TYG 0.00% 0.59% -0.59% $0
KTF 0.25% 0.83% -0.58% $849K
RWAY 3.08% 3.64% -0.56% $11M
CION 4.24% 4.80% -0.56% $15M
STEW 5.90% 6.44% -0.54% $20M
MAV 0.00% 0.53% -0.53% $0

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 85.8%
Energy 4.1%
Industrials 4.0%
Real Estate 3.2%
Consumer Defensive 1.9%

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 2 $11M 3.3%
Mid Cap 5 $18M 5.3%
Small Cap 44 $177M 51.6%
Micro Cap 76 $137M 39.8%

Portfolio Analytics

Avg Market Cap
$1.7B
Median Market Cap
$247M
Avg P/E
40.9
Median P/E
31.3
Avg Dividend Yield
0.06%
Avg Beta
0.64
# Stocks
93
# ETFs / Funds
34

Top Holdings (127 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 GAM 5.93% 327,610 $20M $62.21 $1M -14,500 -4.2%
2 STEW 5.90% 1,117,582 $20M $18.16 $536K
3 CET 5.77% 386,046 $20M $51.37 $2M +17,962 +4.9%
4 NBXG 5.09% 1,136,986 $17M $15.38 $926K +2,698 +0.2%
5 DSM 4.52% 2,624,438 $16M $5.92 $996K +27,807 +1.1%
6 CION 4.24% 1,538,071 $15M $9.48 -$138K
7 TRC 3.67% 790,460 $13M $15.98 -$767K +461 +0.1%
8 RWAY 3.08% 1,041,284 $11M $10.16 -$583K +971 +0.1%
9 CMU 3.02% 2,994,960 $10M $3.47 $1M +323,923 +12.1%
10 AFB 2.94% 931,099 $10M $10.85 -$2M -233,091 -20.0%
11 CNNE 2.82% 528,733 $10M $18.31 -$2M -12,254 -2.3%
12 TPL 2.63% 9,700 $9M $933.64 -$346K +800 +9.0%
13 GDV 2.37% 300,795 $8M $27.13 $331K -233 -0.1%
14 CXH 2.24% 980,494 $8M $7.86 $862K +84,603 +9.4%
15 OXLC 2.20% 447,288 $8M $16.93 +447,288 NEW
16 CCAP 1.81% 437,518 $6M $14.26 $2M +147,135 +50.7%
17 IIF 1.76% 229,537 $6M $26.35 -$2M -68,352 -22.9%
18 GF 1.65% 491,479 $6M $11.56 -$211K -2,000 -0.4%
19 VLGEA 1.65% 151,510 $6M $37.36 $4M +98,253 +184.5%
20 OTF 1.57% 389,655 $5M $13.82 $5M +343,282 +740.3%
21 BCIC 1.54% 460,007 $5M $11.53 $3M +243,461 +112.4%
22 ALX 1.53% 22,500 $5M $234.49 $535K +1,459 +6.9%
23 ENX 1.39% 484,023 $5M $9.86 -$84K -38,767 -7.4%
24 MRCC 1.33% 651,021 $5M $7.02 +651,021 NEW
25 LEO 1.32% 725,132 $5M $6.25 $900K +111,628 +18.2%
26 JACS 1.25% 412,874 $4M $10.38 -$5K -3,652 -0.9%
27 IHD 1.06% 580,497 $4M $6.27 $2M +364,907 +169.3%
28 ECF 1.05% 312,463 $4M $11.60 $422K
29 FSK 1.05% 241,118 $4M $14.93 +241,118 NEW
30 DMB 1.03% 331,979 $4M $10.70 $2M +158,768 +91.7%
31 GDL 1.02% 409,922 $4M $8.55 $73K -1,422 -0.3%
32 BACC 0.89% 306,891 $3M $10.00 +306,891 NEW
33 IAE 0.89% 406,055 $3M $7.50 $2M +328,562 +424.0%
34 SBXD-UN 0.84% 275,171 $3M $10.47 -$204K -6,326 -2.2%
35 IPODU 0.75% 254,674 $3M $10.11 $565K +54,674 +27.3%
36 GLO 0.74% 445,718 $3M $5.70 $1M +191,135 +75.1%
37 CHAC 0.74% 250,000 $3M $10.14 $18K
38 KOYNU 0.73% 250,000 $3M $10.10 +250,000 NEW
39 DMA 0.70% 280,092 $2M $8.64 -$980K -108,477 -27.9%
40 JOF 0.67% 217,948 $2M $10.54 $2M +141,310 +184.4%
41 CB 0.66% 8,000 $2M $282.25 +8,000 NEW
42 HVMCU 0.65% 219,965 $2M $10.12 +219,965 NEW
43 PBBK 0.61% 110,000 $2M $19.18 $2M +96,137 +693.5%
44 PGZ 0.58% 189,736 $2M $10.46 -$2M -181,160 -48.8%
45 CCIF 0.56% 328,415 $2M $5.82 +328,415 NEW
46 BACCU 0.54% 184,494 $2M $10.09 -$982K -98,701 -34.9%
47 SZZLU 0.51% 172,988 $2M $10.08 $1M +122,388 +241.9%
48 TLNCU 0.49% 169,250 $2M $10.05 +169,250 NEW
49 CXE 0.49% 449,633 $2M $3.72 $84K +6,002 +1.4%
50 ZTR 0.48% 257,181 $2M $6.45 $57K
51 TACH 0.44% 150,000 $2M $10.12 +150,000 NEW
52 ICMB 0.42% 522,752 $1M $2.78 $455K +164,281 +45.8%
53 ETHM 0.40% 130,734 $1M $10.41 -$2M -167,875 -56.2%
54 VNMEU 0.37% 127,859 $1M $9.97 +127,859 NEW
55 MXE 0.35% 101,158 $1M $11.87 $142K
56 MBVIU 0.34% 115,240 $1M $10.12 +115,240 NEW
57 CEE 0.32% 72,345 $1M $15.36 $904K +58,971 +440.9%
58 SSSS 0.32% 121,453 $1M $9.00 -$567K -80,700 -39.9%
59 XRPN 0.30% 100,000 $1M $10.43 +100,000 NEW
60 NXDT 0.30% 278,799 $1M $3.69 -$139K -1
61 NHIC 0.30% 100,000 $1M $10.18 $1K
62 COPL 0.29% 100,000 $1M $10.11 $4K
63 PELIR 0.29% 100,000 $1M $10.06 $3K
64 CHPGU 0.29% 100,000 $1M $10.04 +100,000 NEW
65 LWACU 0.29% 100,000 $995K $9.95 +100,000 NEW
66 HHH 0.29% 12,000 $986K $82.17 $176K
67 PFX 0.27% 19,218 $915K $47.62 -$58K
68 CCCX 0.26% 68,275 $878K $12.86 +68,275 NEW
69 BCV 0.25% 39,448 $863K $21.88 +39,448 NEW
70 KTF 0.25% 92,604 $849K $9.17 -$2M -194,324 -67.7%
71 TACO 0.21% 69,163 $719K $10.40 +69,163 NEW
72 BDCIU 0.21% 70,154 $709K $10.10 +70,154 NEW
73 WENN 0.21% 70,000 $708K $10.12 +70,000 NEW
74 SWZ 0.19% 106,902 $650K $6.08 -$28K
75 ALDF 0.18% 57,944 $606K $10.45 -$40K -3,634 -5.9%
76 GYRO 0.17% 60,000 $601K $10.01 +60,000 NEW
77 BBDC 0.17% 67,422 $591K $8.76 -$1M -143,079 -68.0%
78 SPAQ 0.15% 4,933 $514K $104.13 -$31K -267 -5.1%
79 IPEX 0.13% 44,909 $460K $10.24 $227K +21,874 +95.0%
80 OFS 0.13% 57,639 $443K $7.69 -$630K -69,552 -54.7%
81 CCIX 0.13% 41,730 $437K $10.48 -$2K
82 GSRFU 0.12% 42,237 $428K $10.14 +42,237 NEW
83 BLUW 0.12% 41,519 $414K $9.96 +41,519 NEW
84 CEPT 0.11% 35,895 $377K $10.51 -$78K -5,424 -13.1%
85 CHEC 0.10% 35,000 $349K $9.98 +35,000 NEW
86 FCRS 0.08% 25,000 $265K $10.60 +25,000 NEW
87 NWFL 0.07% 9,331 $237K $25.42 +9,331 NEW
88 INACU 0.06% 19,035 $192K $10.11 +19,035 NEW
89 OTGA 0.04% 15,250 $154K $10.07 +15,250 NEW
90 DMIIU 0.04% 15,225 $151K $9.95 +15,225 NEW
91 HFRO 0.02% 10,715 $68K $6.35 $12K
92 PCF 0.02% 10,705 $68K $6.35
93 CUBA 0.01% 17,573 $42K $2.38 +17,573 NEW
94 IBACR 0.01% 466,167 $37K $0.08 $10K -10,670 -2.2%
95 IPEXR 0.01% 44,909 $27K $0.60 $21K +21,874 +95.0%
96 TACOW 0.01% 34,577 $23K $0.67 +34,577 NEW
97 CCIXW 0.01% 29,456 $23K $0.78 -$5K
98 WENNW 0.01% 35,000 $20K $0.58 +35,000 NEW
99 NHICW 0.01% 50,000 $18K $0.36 $2K
100 ALDFW —% 28,972 $15K $0.51 -$1K -1,817 -5.9%

New Positions

SymbolValue% Port
OXLC $8M 2.20%
MRCC $5M 1.33%
FSK $4M 1.05%
BACC $3M 0.89%
KOYNU $3M 0.73%
CB $2M 0.66%
HVMCU $2M 0.65%
CCIF $2M 0.56%
TLNCU $2M 0.49%
TACH $2M 0.44%
VNMEU $1M 0.37%
MBVIU $1M 0.34%
XRPN $1M 0.30%
CHPGU $1M 0.29%
LWACU $995K 0.29%

Sold Out Positions

SymbolValue% Port
M —%
TYG —%
LMNR —%
BSAAU —%
IMSRW —%
TACOU —%
DMAAU —%
PACH —%
IBAC —%
WTGUU —%
IPEXU —%
XRPNU —%
AXINU —%
WENNU —%
FERAU —%
View SEC EDGAR Filings for Bulldog Investors, LLP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms