Bulldog Investors, LLP
Long book
$445.0M
Q1 2026
Positions
216
Top-10 weight
35%
concentration
Last quarter
+3.8%
SPY +14.8%
Turnover
41%
of book per quarter
Strategy in plain words
auto-generated from filingsBulldog Investors, LLP is a diversified fundamental manager, specialised in financials (76% of the long book), running a $445.0M US long book across 216 positions.
The portfolio is moderately concentrated (top 10 ≈ 35% of the book). The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: SRH TOTAL RETURN FUND INC, BNYM STRAT MUNI BND, CENTRAL SECURITIES CORP, GENERAL AMERICAN INVESTORS, TEXAS PACIFIC LAND CORP.
Over the last 9 quarters its long book ran on average 2.5pp per quarter behind the S&P 500, beating the index in 2 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+3.3%
Q2 2024
+4.2%
Q3 2024
+1.8%
Q4 2024
+1.3%
Q1 2025
+3.6%
Q2 2025
+1.0%
Q3 2025
+0.8%
Q4 2025
-2.4%
Q1 2026
+3.8%
Sector allocation
Financials 55%
Other 29%
Real estate 8%
Consumer discretionary 5%
Utilities 1%
Communications 1%
Long book by quarter
What does Bulldog Investors, own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| TPL TEXAS PACIFIC LAND CORP | Financials | 32.0K | $15.2M | 3.4% | +0.9% |
| TRC TEJON RANCH CO | Real estate | 792.5K | $14.9M | 3.4% | +0.1% |
| CION CION INVESTMENT CORP | — | 1.5M | $10.5M | 2.4% | Held |
| OTF BLUE OWL TECHNOLOGY FINANCE | — | 675.9K | $8.4M | 1.9% | +9.7% |
| RWAY RUNWAY GROWTH FINANCE CORP | — | 1.2M | $8.2M | 1.9% | -0.1% |
| VLGEA VILLAGE SUPER MARKET-CLASS A | Consumer discretionary | 170.5K | $7.2M | 1.6% | Held |
| BRK/A BERKSHIRE HATHAWAY INC-CL A | Financials | 10 | $7.2M | 1.6% | +233.3% |
| CCAP CRESCENT CAPITAL BDC INC | — | 457.0K | $5.6M | 1.2% | -0.1% |
| FSK FS KKR CAPITAL CORP | — | 505.7K | $5.1M | 1.2% | +4.0% |
| NWFL NORWOOD FINANCIAL CORP | Financials | 170.0K | $5.0M | 1.1% | +165.0% |
| CB CHUBB LTD | Financials | 14.0K | $4.6M | 1.0% | Held |
| MRCC MONROE CAPITAL CORP | — | 966.8K | $4.4M | 1.0% | +1.3% |
| JACS JACKSON ACQUISITION CO-CL A | Financials | 408.8K | $4.3M | 1.0% | -0.3% |
| OBDC BLUE OWL CAPITAL CORP | — | 338.4K | $3.7M | 0.8% | +42.0% |
| CNNE CANNAE HOLDINGS INC | Consumer discretionary | 302.1K | $3.4M | 0.8% | -33.8% |
| OYSE OYSTER ENTERPRISES II ACQ-A | Financials | 324.4K | $3.3M | 0.7% | -0.8% |
| DYOR INSIGHT DIGITAL PARTNERS I-A | Financials | 323.1K | $3.2M | 0.7% | +57.0% |
| BEAG BOLD EAGLE ACQUISITION COR-A | Financials | 302.0K | $3.2M | 0.7% | -0.4% |
| BCSS BAIN CAPITAL GSS INV- A | Financials | 308.2K | $3.1M | 0.7% | +3.9% |
| NCDL NUVEEN CHURCHILL DIRECT LEND | — | 224.8K | $2.9M | 0.6% | +29.6% |
| BCIC BCP INVESTMENT CORP | — | 378.4K | $2.8M | 0.6% | Held |
| BBDC BARINGS BDC INC | — | 334.9K | $2.8M | 0.6% | +5.5% |
| LWAC LIGHTWAVE ACQUISITION CORP-A | Financials | 257.2K | $2.6M | 0.6% | -1.4% |
| CCAQ COLLECTIVE ACQUISITION CORP | Financials | 249.7K | $2.6M | 0.6% | -1.3% |
| VNME VENDOME ACQUISITION CORP-A | Financials | 237.4K | $2.4M | 0.5% | +12.3% |
| SPEG SILVER PEGASUS ACQUISITION-A | Financials | 236.0K | $2.4M | 0.5% | +19.4% |
| OIM ONEIM ACQUISITION CL-A | Financials | 231.1K | $2.3M | 0.5% | New |
| WENN WEN ACQUISITION CORP-A | Financials | 218.6K | $2.2M | 0.5% | Held |
| HVMC HIGHVIEW MERGER CORP-CL A | Financials | 220.0K | $2.2M | 0.5% | +36.9% |
| PGR PROGRESSIVE CORP | Financials | 11.0K | $2.2M | 0.5% | +37.5% |
| SIMA SIM ACQUISITION CORP I-A | Financials | 200.0K | $2.1M | 0.5% | -51.8% |
| FVAV FORTRESS VALUE ACQUIS V-CL A | Financials | 210.8K | $2.1M | 0.5% | New |
| SVAC SPRING VALLEY ACQUISITION-A | Utilities | 207.3K | $2.1M | 0.5% | -5.3% |
| MEVO M EVO GLOBAL ACQUISITIO-CL A | Financials | 206.0K | $2.0M | 0.5% | New |
| MKLY MCKINLEY ACQUISITION CO-CL A | Financials | 200.0K | $2.0M | 0.5% | Held |
| VACI VIKING ACQUISITION CORP - A | Communications | 200.0K | $2.0M | 0.4% | Held |
| INAC INDIGO ACQUISITION CORP | Financials | 175.0K | $1.8M | 0.4% | -1.9% |
| TLNC TALON CAPITAL CORP-CL A | Financials | 169.2K | $1.7M | 0.4% | +9.9% |
| EVAC EQV VENTURES ACQUISITION C-A | Financials | 166.5K | $1.7M | 0.4% | -0.6% |
| BBCQ BLEICHROEDER ACQUIS II-CL A | Financials | 157.8K | $1.6M | 0.4% | New |
| GIW GIGCAPITAL8 CORP-A | Financials | 154.9K | $1.5M | 0.3% | -2.7% |
| TACH TITAN ACQUISITION CORP-CL A | Financials | 150.0K | $1.5M | 0.3% | Held |
| AIIA AI INFRASTRUCTURE AC-A | Financials | 139.5K | $1.4M | 0.3% | -35.7% |
| SVIV SPRING VALLEY ACQUISITIO-A | Financials | 129.9K | $1.3M | 0.3% | New |
| SCII SC II ACQUISITION CORP-CL A | Financials | 127.7K | $1.3M | 0.3% | New |
| GRAF GRAF GLOBAL CORP-CL A | Financials | 100.0K | $1.1M | 0.2% | -56.1% |
| TAVI TAVIA ACQUISITION CORP | Financials | 100.0K | $1.1M | 0.2% | -13.1% |
| RANG RANGE CAPITAL ACQUISITION CO | Financials | 100.0K | $1.1M | 0.2% | -30.4% |
| NHIC NEWHOLD INVESTMENT COR III-A | Financials | 100.0K | $1.0M | 0.2% | Held |
| COPL COPLEY ACQUISITION CORP-A | Financials | 100.0K | $1.0M | 0.2% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 8, 2026 | 216 | $445.0M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 223 | $449.0M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 198 | $432.1M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 171 | $395.5M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 142 | $369.6M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 142 | $382.9M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 141 | $297.4M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 9, 2024 | 142 | $267.6M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 10, 2024 | 161 | $302.6M | canonical | SEC ↗ |