Muzinich & Co., Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 21, 2026), Muzinich & Co., Inc. reported 38 stock positions worth $318.0 million. Its top holding was Ares Capital (ARCC) at 13.6% of the portfolio, followed by Blackstone Secured Lending F (BXSL, 9.7%) and Blue Owl Capital (OBDC, 9.6%). Compared with Q3 2025, it opened 1 new position, added to 20 and reduced 16. The biggest buy was Ares Capital (ARCC, shares +31%) and the biggest sale FS KKR Capital (FSK, shares −4%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001618824
- Portfolio Value
- $318.0M (Q4 2025)
- SEC Filing
- 0001618824-26-000002 ↗ filed Jan 21, 2026
Holdings Value
Holdings 38 stocks · $318.0M
| ARCC Ares Capital Corp. | 13.63% | 2,142,606 | $43.3M | Add +30.6% |
| BXSL Blackstone Secured Lending F | 9.69% | 1,169,989 | $30.8M | Add +28.8% |
| OBDC Blue Owl Capital Corp. | 9.60% | 2,457,058 | $30.5M | Add +25.9% |
| GBDC Golub Capital BDC Inc. | 8.36% | 1,959,272 | $26.6M | Add +20.5% |
| MAIN Main Street Capital Corp. | 8.36% | 440,012 | $26.6M | Add +19.9% |
| HTGC Hercules Capital Inc. | 7.90% | 1,335,787 | $25.1M | Add +34.5% |
| TSLX Sixth Street Specialty Lendi | 6.78% | 992,898 | $21.6M | Add +32.9% |
| FSK FS KKR Capital Corp. | 3.98% | 854,742 | $12.7M | Reduce -4.4% |
| MSDL Morgan Stanley Direct Lendin | 3.97% | 766,451 | $12.6M | Add +31.1% |
| BCSF Bain Capital Specialty Finan | 3.43% | 784,147 | $10.9M | Add +21.1% |
| CSWC Capital Southwest Corp. | 2.96% | 425,322 | $9.4M | Add +55.6% |
| CGBD Carlyle Secured Lending Inc. | 2.89% | 736,442 | $9.2M | Add +47.3% |
| SLRC SLR Investment Corp. | 2.60% | 534,336 | $8.3M | Add +37.4% |
| MFIC Midcap Financial Investment | 2.57% | 714,776 | $8.2M | Add +25.1% |
| NMFC New Mountain Finance Corp. filed as NEW MTN FIN CORP | 2.46% | 849,437 | $7.8M | Add +26.6% |
| GSBD Goldman Sachs BDC Inc. | 2.33% | 799,498 | $7.4M | Add +4.3% |
| FDUS Fidus Investment Corp. | 2.11% | 347,114 | $6.7M | Add +40.3% |
| BBDC Barings BDC Inc. | 2.02% | 698,945 | $6.4M | Add +43.8% |
| OCSL Oaktree Specialty Lending Co. | 1.33% | 332,569 | $4.2M | Add +0.5% |
| SCM Stellus Capital Investment C | 1.01% | 253,534 | $3.2M | Add +22.5% |
| CCAP Crescent Capital BDC Inc. | 0.68% | 152,822 | $2.1M | Add +11.7% |
| PFLT Pennantpark Floating Rate Ca | 0.50% | 170,836 | $1.6M | No change |
| TCPC BlackRock TCP Capital Corp. | 0.48% | 279,505 | $1.5M | Reduce -1.1% |
| QQQ Invesco QQQ Trust Series 1 | 0.16% | 850 | $522K | New |
| EQIX Equinix Inc. | 0.03% | 140 | $107K | Reduce -63.4% |
| PLD Prologis Inc. | 0.03% | 664 | $85K | Reduce -64.2% |
| DLR Digital Realty Trust Inc. | 0.03% | 537 | $83K | Reduce -64.1% |
| SPG Simon Property Group Inc. | 0.02% | 299 | $55K | Reduce -59.1% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 0.02% | 603 | $50K | Reduce -59.0% |
| HST Host Hotels & Resorts Inc. | 0.01% | 2,493 | $44K | Reduce -58.8% |
| AMT American Tower Corp. | 0.01% | 251 | $44K | Reduce -67.8% |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 0.01% | 515 | $32K | Reduce -59.0% |
| EXR Extra Space Storage Inc. | 0.01% | 229 | $30K | Reduce -58.2% |
| CCI Crown Castle Inc. | 0.01% | 322 | $29K | Reduce -59.1% |
| AMH American Homes 4 Rent- A | 0.01% | 740 | $24K | Reduce -59.0% |
| AVB Avalonbay Communities Inc. | 0.01% | 103 | $19K | Reduce -59.0% |
| ESS Essex Property Trust Inc. | 0.00% | 50 | $13K | Reduce -56.9% |
| BXP BXP Inc. | 0.00% | 149 | $10K | Reduce -59.2% |
Portfolio Sells Q3 2025 → Q4 2025
| FSK FS KKR Capital Corp. | Reduce -4.4% | 3.98% | −1.20 |
| TCPC BlackRock TCP Capital Corp. | Reduce -1.1% | 0.48% | −0.20 |
| EQIX Equinix Inc. | Reduce -63.4% | 0.03% | −0.08 |
| DLR Digital Realty Trust Inc. | Reduce -64.1% | 0.03% | −0.07 |
| PLD Prologis Inc. | Reduce -64.2% | 0.03% | −0.06 |
| AMT American Tower Corp. | Reduce -67.8% | 0.01% | −0.04 |
| IRM Iron Mountain Inc. | Reduce -59.0% | 0.02% | −0.04 |
| SPG Simon Property Group Inc. | Reduce -59.1% | 0.02% | −0.04 |
| HST Host Hotels & Resorts Inc. | Reduce -58.8% | 0.01% | −0.03 |
| VMRK Vivmark Residential | Reduce -59.0% | 0.01% | −0.02 |
| EXR Extra Space Storage Inc. | Reduce -58.2% | 0.01% | −0.02 |
| CCI Crown Castle Inc. | Reduce -59.1% | 0.01% | −0.02 |
| AMH American Homes 4 Rent- A | Reduce -59.0% | 0.01% | −0.02 |
| AVB Avalonbay Communities Inc. | Reduce -59.0% | 0.01% | −0.01 |
| ESS Essex Property Trust Inc. | Reduce -56.9% | 0.00% | −0.01 |
| BXP BXP Inc. | Reduce -59.2% | 0.00% | −0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| ARCC Ares Capital Corp. | Add +30.6% | 13.63% | +0.65 |
| CSWC Capital Southwest Corp. | Add +55.6% | 2.96% | +0.65 |
| HTGC Hercules Capital Inc. | Add +34.5% | 7.90% | +0.63 |
| BXSL Blackstone Secured Lending F | Add +28.8% | 9.69% | +0.51 |
| CGBD Carlyle Secured Lending Inc. | Add +47.3% | 2.89% | +0.47 |
| BBDC Barings BDC Inc. | Add +43.8% | 2.02% | +0.37 |
| MSDL Morgan Stanley Direct Lendin | Add +31.1% | 3.97% | +0.33 |
| SLRC SLR Investment Corp. | Add +37.4% | 2.60% | +0.29 |
| QQQ Invesco QQQ Trust Series 1 | New | 0.16% | +0.16 |
| FDUS Fidus Investment Corp. | Add +40.3% | 2.11% | +0.16 |
| TSLX Sixth Street Specialty Lendi | Add +32.9% | 6.78% | +0.16 |
| SCM Stellus Capital Investment C | Add +22.5% | 1.01% | −0.04 |
| NMFC New Mountain Finance Corp. | Add +26.6% | 2.46% | −0.05 |
| OBDC Blue Owl Capital Corp. | Add +25.9% | 9.60% | −0.05 |
| CCAP Crescent Capital BDC Inc. | Add +11.7% | 0.68% | −0.08 |
| MFIC Midcap Financial Investment | Add +25.1% | 2.57% | −0.08 |
| BCSF Bain Capital Specialty Finan | Add +21.1% | 3.43% | −0.15 |
| GBDC Golub Capital BDC Inc. | Add +20.5% | 8.36% | −0.27 |
| OCSL Oaktree Specialty Lending Co. | Add +0.5% | 1.33% | −0.34 |
| GSBD Goldman Sachs BDC Inc. | Add +4.3% | 2.33% | −0.69 |
| MAIN Main Street Capital Corp. | Add +19.9% | 8.36% | −0.69 |
Options Activity Q3 2025 → Q4 2025
| UTZ Utz Brands Inc. | call | Sold out | 35,000 | $425Kbefore exit |
| COLD Americold Realty Trust Inc. | call | Sold out | 30,000 | $367Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 38 | $292.7M | ARCC, BXSL, OBDC, GBDC, MAIN |
| Q1 2026 | 38 | $285.9M | ARCC, BXSL, OBDC, MAIN, GBDC |
| Q4 2025 | 38 | $318.0M | ARCC, BXSL, OBDC, GBDC, MAIN |
| Q3 2025 | 37 | $258.0M | ARCC, OBDC, BXSL, MAIN, GBDC |
| Q2 2025 | 38 | $218.9M | ARCC, OBDC, BXSL, MAIN, GBDC |
| Q1 2025 | 38 | $163.5M | ARCC, OBDC, BXSL, GBDC, MAIN |
| Q4 2024 | 38 | $141.6M | ARCC, MAIN, BXSL, FSK, GBDC |
| Q3 2024 | 38 | $126.7M | ARCC, MAIN, FSK, GBDC, BXSL |
| Q2 2024 | 36 | $124.8M | ARCC, OBDC, GBDC, FSK, MAIN |
| Q1 2024 | 38 | $115.2M | ARCC, OBDC, BXSL, FSK, GBDC |