Bain Capital Specialty Finance, Inc.: which funds bought and sold

Institutions that bought and sold Bain Capital Specialty Finance shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 63 institutions that filed 13F reports for both quarters added to or opened positions in Bain Capital Specialty Finance, and 60 cut or closed them. Together they added a net 3.0M shares, +9.0% on what they held at the start of the quarter. Active managers and hedge funds on our list were net sellers of 203K shares (−8.2%); index fund managers were net sellers of 10K shares (−4.8%). 16 opened a new position and 17 sold out entirely.

Bought, Q2 2026 63 institutions, 16 of them new holders Sold, Q2 2026 60 institutions, 17 of them sold out

Net change, all compared +3.0M shares (+9.0%)

Net change, active managers −203K shares (−8.2%), 4 bought, 7 sold

Buyers versus sellers

institutions compared, 143

63 bought 20 60 sold

Active managers and hedge funds 4 bought · 7 sold · −203K

Index fund managers 0 bought · 2 sold · −10K

Other institutions 59 bought · 51 sold · +3.2M

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
Ares Management LLC	+494K +521.7%	588K	$7.4M
Envestnet Asset Management Inc	+457K New position	457K	$5.7M
Columbus Macro, LLC	+451K New position	451K	$5.7M
Caz Investments LP	+448K +4482.0%	458K	$5.7M
Cetera Investment Advisers	+446K New position	446K	$5.6M
Cresset Asset Management, LLC	+322K +15.5%	2.4M	$30M
Gcm Grosvenor Holdings, LLC	+315K New position	315K	$3.9M
Van Eck Associates Corp	+254K +22.6%	1.4M	$17.3M
Arax Advisory Partners	+253K +109.8%	483K	$6M
Russell Investments Group, Ltd.	+247K +46.3%	779K	$9.8M
Morgan Stanley	+109K +9.5%	1.3M	$15.7M
Privium Fund Management (UK) Ltd	+96K New position	96K	$1.2M
Callodine Capital Management, LP	+93K +86.3%	200K	$2.5M
Blair William & Co	+64K New position	64K	$807,139
Franklin Resources Inc Active manager	+58K +9.9%	644K	$8.1M
Susquehanna International Group, LLP	+57K New position	57K	$719,812
UBS Group AG	+56K +4.0%	1.5M	$18.3M
Cambridge Investment Research Advisors, Inc.	+50K +98.4%	100K	$1.3M
Goldman Sachs Group Inc	+48K New position	48K	$605,355
Xtx Topco Ltd	+48K +45.4%	152K	$1.9M

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Franklin Resources Inc Active manager	+58K +9.9%	644K	$8.1M
Brevan Howard Capital Management LP Hedge fund	+21K New position	21K	$256,673
PDT Partners, LLC Hedge fund	+12K +82.4%	26K	$325,683
FMR LLC Active manager	+9 +225.0%	13	$163

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
Melia Wealth LLC	−290K −25.0%	873K	$10.9M
Bank Of America Corp	−197K −7.2%	2.5M	$31.8M
Jane Street Group, LLC	−145K Sold out	0	—
Two Sigma Investments, LP Hedge fund	−141K −9.3%	1.4M	$17.2M
Bi Asset Management Fondsmaeglerselskab A/S	−132K −82.0%	29K	$362,000
Lansforsakringar Fondforvaltning AB (Publ)	−119K Sold out	0	—
North Ground Capital	−110K −32.9%	224K	$2.8M
Hightower Advisors, LLC	−60K −16.2%	314K	$3.9M
Dynamic Technology Lab Private Ltd	−56K Sold out	0	—
Balyasny Asset Management L.P. Hedge fund	−51K Sold out	0	—
Trexquant Investment LP Hedge fund	−46K −33.1%	93K	$1.2M
Alpine Global Management, LLC	−36K −35.5%	65K	$818,420
Citadel Advisors LLC Hedge fund	−28K Sold out	0	—
Rockefeller Capital Management L.P.	−25K −18.6%	111K	$1.4M
Entropy Technologies, LP	−21K Sold out	0	—
Allworth Financial LP	−19K −42.9%	25K	$316,344
Eagle Global Advisors LLC	−19K Sold out	0	—
Millennium Management LLC Hedge fund	−18K Sold out	0	—
Independent Financial Group, LLC	−17K −32.9%	35K	$443,033
Nverses Capital, LLC	−17K Sold out	0	—

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Two Sigma Investments, LP Hedge fund	−141K −9.3%	1.4M	$17.2M
Balyasny Asset Management L.P. Hedge fund	−51K Sold out	0	—
Trexquant Investment LP Hedge fund	−46K −33.1%	93K	$1.2M
Citadel Advisors LLC Hedge fund	−28K Sold out	0	—
Millennium Management LLC Hedge fund	−18K Sold out	0	—
Neuberger Berman Group LLC Active manager	−8,282 −8.6%	88K	$1.1M
Price T Rowe Associates Inc Active manager	−667 −5.3%	12K	$150,000

New positions

largest by value

Institution	Shares	Value June 30, 2026
Envestnet Asset Management Inc	457K	$5.7M
Columbus Macro, LLC	451K	$5.7M
Cetera Investment Advisers	446K	$5.6M
Gcm Grosvenor Holdings, LLC	315K	$3.9M
Privium Fund Management (UK) Ltd	96K	$1.2M
Blair William & Co	64K	$807,139
Susquehanna International Group, LLP	57K	$719,812
Goldman Sachs Group Inc	48K	$605,355
Diversify Advisory Services, LLC	42K	$527,966
Crestwood Advisors Group, LLC	24K	$298,289

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Jane Street Group, LLC	145K	$1.8M
Lansforsakringar Fondforvaltning AB (Publ)	119K	$1.5M
Dynamic Technology Lab Private Ltd	56K	$697,537
Balyasny Asset Management L.P.Hedge fund	51K	$637,050
Citadel Advisors LLCHedge fund	28K	$341,409
Entropy Technologies, LP	21K	$266,340
Eagle Global Advisors LLC	19K	$232,004
Millennium Management LLCHedge fund	18K	$224,626
Nverses Capital, LLC	17K	$214,395
Nicholas Hoffman & Company, Llc.	12K	$148,800

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 128
Ten largest holders: 68.5%
Index fund managers: 0.6%
Active managers and hedge funds: 6.1%

Buying and selling by type of institution, March 31, 2026 to June 30, 2026
Type	Bought	Sold	New	Sold out	Net change in shares	Net %
Active managers and hedge funds	4	7	1	3	−203K	−8.2%
Index fund managers	0	2	0	0	−10K	−4.8%
Other institutions	59	51	15	14	+3.2M	+10.5%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

What these filings can and cannot tell you

Form 13F lists the long positions in US-listed shares held by investment managers with more than $100 million in such holdings. Managers file it up to 45 days after each quarter ends, so this page shows what funds held at the end of each quarter, not what they are doing now: a position may have changed since. Short positions, most derivatives and smaller managers are not included, and a cut can mean a fund lost clients or rebalanced rather than a view on Bain Capital Specialty Finance.

Only managers that filed a holdings report for both quarters are compared (143 here). 6 other holders are left out: first-time or late filers, firms that changed their SEC registration, and filings that withheld positions under confidential treatment, any of which would otherwise look like a new position or a sale. Figures are as reported by each manager in the SEC's quarterly 13F data sets; option positions are excluded.

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