Barings BDC, Inc. (BBDC) shareholders
BBDCNYSEFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 5, 2026Score 14/3040% below fair value
$8.60−0.17 (-1.94%)
Close on Nov 12, 2026Market cap $900.48MP/E 8.1Yield 13.84%
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
48.2%
51M of 105M shares
Institutional holders
203
27 new, 30 sold out
Net institutional buying
3M
In Q2 2026
Insider trades, 12 months
2 buys · 1 sales
Net bought $92.42K
Shares held by institutions
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of BBDC | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| Barings LLC | 13,639,681 | 13.03% | $116.21M | – | 2.06% |
| Private Management Group Inc | 4,779,724 | 4.56% | $40.72M | +479,536 | 1.07% |
| Ares Management LLC | 4,164,327 | 3.98% | $35.48M | +534,151 | 1.55% |
| Cresset Asset Management, LLC | 2,545,273 | 2.43% | $21.69M | +220,943 | 0.08% |
| Van Eck Associates Corp | 2,309,564 | 2.21% | $19.68M | +484,649 | 0.01% |
| UBS Group AG | 2,105,638 | 2.01% | $17.94M | +522,846 | 0.00% |
| Franklin Resources Inc | 1,365,788 | 1.30% | $11.64M | +395,024 | 0.00% |
| Russell Investments Group, Ltd. | 1,234,512 | 1.18% | $10.52M | +386,738 | 0.01% |
| Two Sigma Investments, LP | 1,129,980 | 1.08% | $9.63M | +150,647 | 0.01% |
| Dimension Capital Management LLC | 1,020,581 | 0.97% | $8.70M | +35,419 | 1.02% |
| Morgan Stanley | 960,577 | 0.92% | $8.18M | −37,239 | 0.00% |
| Focus Partners Wealth | 907,615 | 0.87% | $7.73M | −47,568 | 0.01% |
| Legal & General Group Plc | 879,822 | 0.84% | $7.48M | +28,845 | 0.00% |
| Wells Fargo & Company/Mn | 760,559 | 0.73% | $6.48M | −164,863 | 0.00% |
| Muzinich & Co., Inc. | 714,955 | 0.68% | $6.09M | +14,496 | 2.08% |
| Bank Of America Corp /De/ | 690,777 | 0.66% | $5.89M | +243,150 | 0.00% |
| Raymond James Financial Inc | 682,818 | 0.65% | $5.82M | +66,062 | 0.00% |
| Sumitomo Mitsui Trust Holdings, Inc. | 577,412 | 0.55% | $4.92M | – | 0.00% |
| BlackRock, Inc. | 509,220 | 0.49% | $4.34M | +15,506 | 0.00% |
| Thrivent Financial for Lutherans | 475,834 | 0.45% | $4.05M | +326,935 | 0.01% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 203 | 51M | 48.2% | 27 / 74 | 58 / 30 | 6M | 3M |
| Q1 2026 | 211 | 48M | 45.6% | 31 / 68 | 62 / 35 | 5M | 5M |
| Q4 2025 | 218 | 48M | 45.7% | 41 / 58 | 67 / 32 | 7M | 5M |
| Q3 2025 | 210 | 46M | 43.9% | 33 / 78 | 50 / 17 | 3M | 2M |
| Q2 2025 | 196 | 45M | 43.2% | 25 / 77 | 57 / 38 | 3M | 3M |
| Q1 2025 | 211 | 45M | 42.6% | 36 / 72 | 57 / 20 | 4M | 4M |
| Q4 2024 | 198 | 45M | 43.0% | 27 / 67 | 54 / 25 | 5M | 3M |
| Q3 2024 | 199 | 44M | 42.1% | 30 / 56 | 61 / 18 | 4M | 3M |
| Q2 2024 | 191 | 44M | 41.7% | 26 / 63 | 55 / 31 | 2M | 7M |
| Q1 2024 | 199 | 48M | 45.9% | 30 / 56 | 64 / 29 | 3M | 3M |
| Q4 2023 | 203 | 48M | 46.1% | 30 / 59 | 68 / 32 | 3M | 4M |
| Q3 2023 | 209 | 49M | 46.8% | 25 / 76 | 53 / 26 | 3M | 6M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
10 funds held BBDC in Q2 2026, 94% of their shares through ETFs. Each fund counts once per quarter, from its quarter-end report.
| Fund | Shares | % of BBDC | Value | % of fund | As of |
|---|---|---|---|---|---|
| VanEck BDC Income ETF | 1,842,241 | 1.76% | $15.70M | 0.96% | Jun 30, 2026 |
| Putnam BDC Income ETF | 1,411,762 | 1.35% | $11.65M | 4.11% | Jul 31, 2026 |
| GraniteShares HIPS U.S. High Income ETF | 308,352 | 0.29% | $2.63M | 2.39% | Jun 30, 2026 |
| FT Confluence BDC & Specialty Finance Income ETF | 201,684 | 0.19% | $1.75M | 5.09% | May 31, 2026 |
| Mercer Opportunistic Fixed Income Fund | 151,455 | 0.14% | $1.29M | 0.06% | Jun 30, 2026 |
| Novatide Flexible Allocation ETF | 60,415 | 0.06% | $523.19K | 2.42% | May 31, 2026 |
| Virtus Private Credit Strategy ETF | 46,262 | 0.04% | $381.66K | 1.26% | Jul 31, 2026 |
| ProShares Global Listed Private Equity ETF | 17,499 | 0.02% | $151.54K | 1.36% | May 31, 2026 |
| WHITEWOLF Publicly Listed Private Equity ETF | 7,237 | 0.01% | $59.71K | 0.85% | Jul 31, 2026 |
| Blackstone Alternative Multi-Strategy Fund | 701 | 0.00% | $5.97K | 0.00% | Jun 30, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Eric J. Lloyd | CEO, Director | 66,469 | 0.06% | May 20, 2025 |
| William Woody Harrison | Vice President | – | – | Nov 9, 2026 |
| Thomas McDonnell | Chief Executive Officer | 26,000 | 0.02% | Jun 5, 2026 |
| Daniel Verwholt | Vice President | – | – | Nov 12, 2025 |
| Elizabeth A. Murray | CFO and COO and PAO | 25,387 | 0.02% | Jun 9, 2025 |
| Matthew Freund | President | 20,000 | 0.02% | May 22, 2025 |
| Rosa Epperson | Chief Accounting Officer | – | – | May 16, 2025 |
| Stephen R. Byers | Director | 64,572 | 0.06% | Dec 10, 2025 |
| Paul LaPiana | – | – | – | Jan 21, 2025 |
| Mary Jane Fortin | – | – | – | Jan 13, 2025 |
| Michael James O'Connor | – | 0 | – | Dec 13, 2024 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Thomas McDonnell Chief Executive Officer | Jun 3, 2026 | Buy | +10,000 | $8.27 | $82.70K | 26,000 |
| Stephen R. Byers Director | Dec 9, 2025 | Sale | −5,671 | $8.98 | $50.93K | 64,572 |
| Stephen R. Byers Director | Dec 9, 2025 | Buy | +6,761 | $8.97 | $60.65K | 70,243 |
| Elizabeth A. Murray CFO and COO and PAO | Jun 6, 2025 | Buy | +3,400 | $8.84 | $30.06K | 25,387 |
| Stephen R. Byers Director | Jun 6, 2025 | Buy | +8,700 | $8.89 | $77.34K | 59,734 |
| Matthew Freund President | May 19, 2025 | Buy | +3,520 | $9.07 | $31.93K | 20,000 |
| Matthew Freund President | May 19, 2025 | Sale | −1 | $9.06 | $9 | 20,000 |
| Matthew Freund President | May 19, 2025 | Sale | −0.85 | $9.06 | $8 | 20,001 |
| Matthew Freund President | May 19, 2025 | Buy | +22 | $9.07 | $200 | 20,002 |
| Matthew Freund President | May 19, 2025 | Buy | +3,500 | $9.07 | $31.75K | 19,980 |
| Eric J. Lloyd CEO, Director | May 19, 2025 | Buy | +27,275 | $9.13 | $249.02K | 66,469 |
| Eric J. Lloyd CEO, Director | May 19, 2025 | Buy | +7,100 | $9.09 | $64.54K | 73,569 |
| Stephen R. Byers Director | Dec 13, 2024 | Buy | +8,485 | $9.73 | $82.56K | 50,001 |
| Michael James O'Connor – | Dec 12, 2024 | Sale | −29,423.57 | $9.70 | $285.41K | 0 |
| Stephen R. Byers Director | Dec 11, 2024 | Buy | +1,063.07 | $9.89 | $10.51K | 41,516 |
| Elizabeth A. Murray CFO and COO and PAO | Dec 11, 2024 | Buy | +2,000 | $9.70 | $19.40K | 20,805 |
| Matthew Freund President | Dec 11, 2024 | Buy | +1,500 | $9.72 | $14.58K | 14,971 |
| Matthew Freund President | Dec 11, 2024 | Buy | +1,000 | $9.72 | $9.72K | 15,971 |
| Stephen R. Byers Director | Nov 15, 2024 | Buy | +13,565 | $9.95 | $134.97K | 40,453 |
| Stephen R. Byers Director | Nov 8, 2024 | Buy | +1,350 | $9.63 | $13.00K | 26,888 |
| Michael Freno – | May 9, 2024 | Buy | +27,500 | $9.73 | $267.58K | 71,145 |
| Stephen R. Byers Director | Feb 28, 2024 | Buy | +570 | $9.70 | $5.53K | 21,648 |
| Stephen R. Byers Director | Jul 18, 2023 | Buy | +400 | $8.03 | $3.21K | 21,078 |
| Michael James O'Connor – | May 16, 2023 | Buy | +25,000 | $7.43 | $185.75K | 25,000 |
| Sears Merritt – | May 11, 2023 | Buy | +1,358 | $7.36 | $9.99K | 1,358 |
| Elizabeth A. Murray Principal Accounting Officer | May 11, 2023 | Buy | +2,500 | $7.23 | $18.08K | 14,534 |
| Elizabeth A. Murray CFO and COO | May 11, 2023 | Buy | +2,500 | $7.23 | $18.08K | 15,907 |
| Michael Freno – | May 9, 2023 | Buy | +4,000 | $7.18 | $28.72K | 43,645 |
| Michael Freno – | May 9, 2023 | Buy | +4,000 | $7.19 | $28.76K | 39,645 |
| Michael Freno – | May 9, 2023 | Buy | +4,000 | $7.19 | $28.76K | 35,645 |
| Michael Freno – | May 9, 2023 | Buy | +4,000 | $7.19 | $28.76K | 31,287 |
| Michael Freno – | May 9, 2023 | Buy | +4,000 | $7.18 | $28.72K | 39,287 |
| Michael Freno – | May 9, 2023 | Buy | +4,000 | $7.19 | $28.76K | 35,287 |
| Michael Freno – | May 9, 2023 | Buy | +14,000 | $7.20 | $100.80K | 27,287 |
| Albert Perley Treasurer | May 9, 2023 | Buy | +100 | $7.21 | $721 | 2,000 |
| Albert Perley Treasurer | May 9, 2023 | Buy | +1,900 | $7.21 | $13.70K | 1,900 |
| Jeffrey Chillag Director of Finance | May 8, 2023 | Buy | +3,500 | $7.23 | $25.31K | 8,374 |
| Jeffrey Chillag Director of Finance | May 8, 2023 | Sale | −500 | $7.23 | $3.62K | 7,874 |
| Jeffrey Chillag Director of Finance | May 8, 2023 | Buy | +3,500 | $7.23 | $25.31K | 8,374 |
| Geoff Craddock – | Apr 10, 2023 | Buy | +10,000 | $7.67 | $76.70K | 30,000 |
| Thomas Okel Director | Mar 9, 2023 | Buy | +9,400 | $8.05 | $75.67K | 19,437 |
| Thomas Okel Director | Mar 9, 2023 | Buy | +600 | $8.04 | $4.82K | 20,037 |
| Stephen R. Byers Director | Jan 25, 2023 | Buy | +466 | $8.55 | $3.98K | 20,019 |
| Stephen R. Byers Director | Jun 17, 2022 | Buy | +236 | $9.27 | $2.19K | 18,121 |
| Stephen R. Byers Director | Jun 3, 2022 | Buy | +1,850 | $10.38 | $19.20K | 17,885 |
| Stephen R. Byers Director | May 9, 2022 | Buy | +235 | $10.22 | $2.40K | 16,035 |
| Stephen R. Byers Director | May 9, 2022 | Buy | +15,800 | $10.25 | $161.95K | 15,800 |
| Jeffrey Chillag Director of Finance | Mar 15, 2022 | Other | +1,382 | $10.15 | $14.03K | 3,756 |
| Jeffrey Chillag Director of Finance | Mar 15, 2022 | Other | +1,118 | $10.16 | $11.36K | 4,874 |
| David Mihalick Director | Dec 1, 2021 | Buy | +5,000 | $10.80 | $54.00K | 20,000 |
| Thomas McDonnell Vice President | Nov 29, 2021 | Buy | +5,000 | $10.85 | $54.25K | 13,000 |
| Thomas Okel Director | Sep 28, 2021 | Buy | +400.87 | $11.03 | $4.42K | 10,037 |
| Thomas Okel Director | Sep 28, 2021 | Buy | +4,136 | $11.02 | $45.58K | 9,636 |
| Roger W. Crandall – | Aug 10, 2021 | Buy | +3,000 | $10.95 | $32.85K | 18,250 |
| Thomas McDonnell Vice President | Jun 9, 2021 | Buy | +3,000 | $10.53 | $31.59K | 8,000 |
| Thomas McDonnell Vice President | May 11, 2021 | Buy | +2,000 | $10.39 | $20.78K | 5,000 |
| Thomas McDonnell Vice President | Mar 30, 2021 | Buy | +2,000 | $9.95 | $19.90K | 3,000 |
| Thomas McDonnell Vice President | Mar 26, 2021 | Buy | +1,000 | $9.90 | $9.90K | 1,000 |
| John Switzer Director | Dec 21, 2020 | Buy | +1,000 | $9.11 | $9.11K | 6,000 |
| David Mihalick Director | Dec 7, 2020 | Buy | +7,859 | $8.97 | $70.50K | 15,000 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Short interest
Shares sold short and not yet bought back, as of Oct 30, 2026 (FINRA, reported twice a month)
Short % of float
1.84%
2M shares short
Days to cover
3.7
At 1M shares a day
Change since last report
-24.6%
From 3M shares
Short volume, 20 days
58.5%
Of volume reported to FINRA
Shares sold short, last 12 months
Short sale volume counts trades marked short on any given day, including market-maker hedging, so it runs far higher than the share of Barings BDC's stock actually held short. Settlement fails (shares not delivered on time) peaked at 82,094 shares on Sep 1, 2026 over the last 90 days.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Stephen R. Byers Director | Dec 9, 2025 | 5,671 | $50.93K | Dec 9, 2025 | Open Market Purchase |
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