Who owns Bain Capital Specialty Finance, Inc. (BCSF)
Which tracked institutional funds hold BCSF, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See BCSF company fundamentals →
Ownership as of the 2026-Q1 13F filings. 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
16 tracked funds added or opened BCSF while 35 trimmed or exited it between 2025-Q4 and 2026-Q1 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
BCSF’s largest tracked holder by dollar value, Bain Capital Credit, LP, sizes it at 48.4% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 48.4pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in BCSF divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 132 tracked filers holding BCSF, 60 increased or opened the position and 79 reduced or closed it; over the same quarter, open-market insider Form 4s were net purchases.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in BCSF between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 6
- PANORAMIC INVESTMENT ADVISORS, LLC$14M
- Cerberus Capital Management, L.P.$1M
- Dynamic Technology Lab Private Ltd$698K
- BALYASNY ASSET MANAGEMENT L.P.$637K
- Spartan Wealth Advisory Services LLC$598K
- DIVERSIFY WEALTH MANAGEMENT, LLC$507K
Full exits 5
- TWO SIGMA ADVISERS, LP$8M
- STATE STREET CORP$1M
- Brevan Howard Capital Management LP$751K
- COMERICA BANK$516K
- Diversify Advisory Services, LLC$503K
Largest adds
- TWO SIGMA INVESTMENTS, LP$10M
- Russell Investments Group, Ltd.$4M
- DIMENSION CAPITAL MANAGEMENT LLC$4M
- HighTower Advisors, LLC$4M
- Arax Advisory Partners$3M
- Cresset Asset Management, LLC$1M
Largest trims
- Bain Capital Credit, LP$18M
- BANK OF AMERICA CORP /DE/$11M
- MILLENNIUM MANAGEMENT LLC$6M
- Rockefeller Capital Management L.P.$5M
- VAN ECK ASSOCIATES CORP$5M
- UBS Group AG$5M
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| Bain Capital Credit, LP | 11,822,433 | $147M | 31.2% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ trimmed | 2,737,475 | $34M | 7.2% | 2026-Q1 |
| Cresset Asset Management, LLC added | 2,072,844 | $26M | 5.5% | 2026-Q1 |
| TWO SIGMA INVESTMENTS, LP added | 1,514,955 | $19M | 4.0% | 2026-Q1 |
| UBS Group AG trimmed | 1,404,548 | $17M | 3.7% | 2026-Q1 |
| DIMENSION CAPITAL MANAGEMENT LLC added | 1,224,490 | $15M | 3.2% | 2026-Q1 |
| PANORAMIC INVESTMENT ADVISORS, LLC new | 1,163,189 | $14M | 3.1% | 2026-Q1 |
| Melia Wealth LLC added | 1,163,088 | $14M | 3.1% | 2026-Q1 |
| MORGAN STANLEY added | 1,146,133 | $14M | 3.0% | 2026-Q1 |
| VAN ECK ASSOCIATES CORP trimmed | 1,124,424 | $14M | 3.0% | 2026-Q1 |
| Muzinich & Co., Inc. added | 801,257 | $10M | 2.1% | 2026-Q1 |
| Sumitomo Mitsui Trust Group, Inc. | 601,097 | $7M | 1.6% | 2026-Q1 |
| FRANKLIN RESOURCES INC added | 585,999 | $7M | 1.5% | 2026-Q1 |
| Russell Investments Group, Ltd. added | 532,532 | $7M | 1.4% | 2026-Q1 |
| Legal & General Group Plc added | 500,213 | $6M | 1.3% | 2026-Q1 |
| HighTower Advisors, LLC added | 373,972 | $5M | 1.0% | 2026-Q1 |
| Hennion & Walsh Asset Management, Inc. trimmed | 355,903 | $4M | 0.9% | 2026-Q1 |
| North Ground Capital trimmed | 333,982 | $4M | 0.9% | 2026-Q1 |
| Advisors Asset Management, Inc. added | 234,117 | $3M | 0.6% | 2026-Q1 |
| Arax Advisory Partners added | 230,050 | $3M | 0.6% | 2026-Q1 |
| BlackRock, Inc. trimmed | 204,910 | $3M | 0.5% | 2026-Q1 |
| Texas Yale Capital Corp. added | 163,552 | $2M | 0.4% | 2026-Q1 |
| BI Asset Management Fondsmaeglerselskab A/S added | 161,044 | $2M | 0.4% | 2026-Q1 |
| Mariner, LLC trimmed | 160,671 | $2M | 0.4% | 2026-Q1 |
| JANE STREET GROUP, LLC added | 145,001 | $2M | 0.4% | 2026-Q1 |
| Trexquant Investment LP added | 138,994 | $2M | 0.4% | 2026-Q1 |
| Rockefeller Capital Management L.P. trimmed | 135,793 | $2M | 0.4% | 2026-Q1 |
| HAGER INVESTMENT MANAGEMENT SERVICES, LLC trimmed | 127,430 | $2M | 0.3% | 2026-Q1 |
| Lansforsakringar Fondforvaltning AB (publ) added | 119,266 | $1M | 0.3% | 2026-Q1 |
| LPL Financial LLC added | 115,815 | $1M | 0.3% | 2026-Q1 |
| Pathstone Holdings, LLC added | 114,970 | $1M | 0.3% | 2026-Q1 |
| Kestra Advisory Services, LLC trimmed | 113,615 | $1M | 0.3% | 2026-Q1 |
| Callodine Capital Management, LP | 107,349 | $1M | 0.3% | 2026-Q1 |
| Cerity Partners LLC trimmed | 105,828 | $1M | 0.3% | 2026-Q1 |
| XTX Topco Ltd added | 104,532 | $1M | 0.3% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN trimmed | 103,952 | $1M | 0.3% | 2026-Q1 |
| Alpine Global Management, LLC trimmed | 101,384 | $1M | 0.3% | 2026-Q1 |
| Curated Wealth Partners LLC | 100,000 | $1M | 0.3% | 2026-Q1 |
| NEUBERGER BERMAN GROUP LLC trimmed | 96,633 | $1M | 0.3% | 2026-Q1 |
| OSAIC HOLDINGS, INC. added | 95,199 | $1M | 0.3% | 2026-Q1 |
| ARES MANAGEMENT LLC added | 94,654 | $1M | 0.2% | 2026-Q1 |
| Heritage Trust Co | 91,325 | $1M | 0.2% | 2026-Q1 |
| CONFLUENCE INVESTMENT MANAGEMENT LLC trimmed | 86,684 | $1M | 0.2% | 2026-Q1 |
| AMERIPRISE FINANCIAL INC trimmed | 86,673 | $1M | 0.2% | 2026-Q1 |
| Cerberus Capital Management, L.P. new | 85,000 | $1M | 0.2% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC added | 78,105 | $969K | 0.2% | 2026-Q1 |
| Campbell & CO Investment Adviser LLC trimmed | 76,385 | $947K | 0.2% | 2026-Q1 |
| Closed-End Fund Advisors, Inc. trimmed | 76,102 | $944K | 0.2% | 2026-Q1 |
| ROYAL BANK OF CANADA trimmed | 75,629 | $938K | 0.2% | 2026-Q1 |
| United Advisor Group, LLC trimmed | 73,793 | $915K | 0.2% | 2026-Q1 |
| Garner Asset Management Corp trimmed | 71,206 | $883K | 0.2% | 2026-Q1 |
| NORDEN GROUP LLC trimmed | 70,222 | $871K | 0.2% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC trimmed | 62,010 | $769K | 0.2% | 2026-Q1 |
| CANADA LIFE ASSURANCE Co trimmed | 57,297 | $714K | 0.2% | 2026-Q1 |
| Dynamic Technology Lab Private Ltd added | 56,253 | $698K | 0.1% | 2026-Q1 |
| Lido Advisors, LLC added | 54,238 | $673K | 0.1% | 2026-Q1 |
| BALYASNY ASSET MANAGEMENT L.P. added | 51,375 | $637K | 0.1% | 2026-Q1 |
| Cambridge Investment Research Advisors, Inc. trimmed | 50,416 | $625K | 0.1% | 2026-Q1 |
| Invesco Ltd. added | 48,367 | $600K | 0.1% | 2026-Q1 |
| Spartan Wealth Advisory Services LLC new | 48,227 | $598K | 0.1% | 2026-Q1 |
| Janney Montgomery Scott LLC added | 47,536 | $589K | 0.1% | 2026-Q1 |
| Allworth Financial LP trimmed | 44,237 | $549K | 0.1% | 2026-Q1 |
| Virtus Investment Advisers, LLC trimmed | 42,488 | $527K | 0.1% | 2026-Q1 |
| Ethos Financial Group, LLC | 36,850 | $513K | 0.1% | 2026-Q1 |
| DIVERSIFY WEALTH MANAGEMENT, LLC new | 37,978 | $507K | 0.1% | 2026-Q1 |
| Beaumont Financial Advisors, LLC trimmed | 39,379 | $488K | 0.1% | 2026-Q1 |
| FIFTH THIRD BANCORP new | 34,755 | $431K | 0.1% | 2026-Q1 |
| Farther Finance Advisors, LLC added | 34,580 | $425K | 0.1% | 2026-Q1 |
| &PARTNERS added | 33,977 | $421K | 0.1% | 2026-Q1 |
| CFO4Life Group, LLC added | 33,895 | $420K | 0.1% | 2026-Q1 |
| Foster Victor Wealth Advisors, LLC added | 32,278 | $420K | 0.1% | 2026-Q1 |
| INDEPENDENT FINANCIAL GROUP, LLC trimmed | 33,500 | $415K | 0.1% | 2026-Q1 |
| TWO SIGMA ADVISERS, LP added | 583,700 | $8M | 1.7% | 2025-Q4 stale |
| ENVESTNET ASSET MANAGEMENT INC added | 346,923 | $6M | 1.2% | 2025-Q1 stale |
| Columbus Macro, LLC added | 340,580 | $6M | 1.2% | 2025-Q1 stale |
| GRIES FINANCIAL LLC added | 224,040 | $3M | 0.7% | 2025-Q3 stale |
| Qube Research & Technologies Ltd trimmed | 156,844 | $2M | 0.5% | 2025-Q3 stale |
| First National Trust Co | 121,720 | $2M | 0.4% | 2025-Q2 stale |
| MACKENZIE FINANCIAL CORP added | 104,816 | $2M | 0.4% | 2025-Q1 stale |
| Graypoint LLC added | 112,253 | $2M | 0.4% | 2025-Q2 stale |
| HRT FINANCIAL LP added | 97,681 | $1M | 0.3% | 2025-Q2 stale |
| STATE STREET CORP added | 78,772 | $1M | 0.2% | 2025-Q4 stale |
| Redhawk Wealth Advisors, Inc. trimmed | 72,773 | $1M | 0.2% | 2025-Q3 stale |
| ELEVATION POINT WEALTH PARTNERS, LLC trimmed | 63,673 | $958K | 0.2% | 2025-Q2 stale |
| LAZARD ASSET MANAGEMENT LLC added | 57,051 | $947K | 0.2% | 2025-Q1 stale |
| Starr Indemnity & Liability Co trimmed | 55,022 | $913K | 0.2% | 2025-Q1 stale |
| Jump Financial, LLC added | 60,622 | $912K | 0.2% | 2025-Q2 stale |
| TOWNSQUARE CAPITAL LLC added | 54,507 | $905K | 0.2% | 2025-Q1 stale |
| Y-Intercept (Hong Kong) Ltd added | 52,743 | $793K | 0.2% | 2025-Q2 stale |
| Brevan Howard Capital Management LP trimmed | 53,965 | $751K | 0.2% | 2025-Q4 stale |
| MARSHALL WACE, LLP trimmed | 47,132 | $672K | 0.1% | 2025-Q3 stale |
| COMERICA BANK added | 37,104 | $516K | 0.1% | 2025-Q4 stale |
| Diversify Advisory Services, LLC trimmed | 36,589 | $503K | 0.1% | 2025-Q4 stale |
| TUDOR INVESTMENT CORP ET AL trimmed | 28,588 | $475K | 0.1% | 2025-Q1 stale |
| CITIGROUP INC added | 31,867 | $454K | 0.1% | 2025-Q3 stale |
| ExodusPoint Capital Management, LP trimmed | 27,100 | $450K | 0.1% | 2025-Q1 stale |
| CV Advisors LLC new | 31,500 | $449K | 0.1% | 2025-Q3 stale |
| Quadrature Capital Ltd added | 30,654 | $426K | 0.1% | 2025-Q4 stale |
| Quantbot Technologies LP added | 28,152 | $392K | 0.1% | 2025-Q4 stale |
| Canton Hathaway, LLC | 27,375 | $390K | 0.1% | 2025-Q3 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.