Managers / Q1 2026
Bain Capital Credit, LP
CIK 0001317947 · 200 CLARENDON STREET, BOSTON, MA, 02116 · 617-516-2000
Summary
Bain Capital Credit, LP reported $303M in U.S.-listed holdings across 6 positions for Q1 2026.
The portfolio is heavily concentrated: BCSF alone accounts for 48.4% of reported value.
The book was largely unchanged from Q4 2025.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 51.2% · $155M
- ETP · 48.8% · $148M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| INVESCO EXCH TRADED FD TR II | TRIMMED | −3.47M | 3.66M | −$75M | $75M |
| ISHARES TR | ADDED | +223.0K | 889.1K | +$17M | $71M |
| BCSFBAIN CAP SPECIALTY FIN INC | HELD | +0 | 11.82M | −$18M | $147M |
| OSGOCTAVE SPECIALTY GROUP INC | HELD | +0 | 1.11M | −$3M | $5M |
| SSGA ACTIVE ETF TR | HELD | +0 | 60.1K | −$67,954 | $2M |
| ASTLALGOMA STL GROUP INC | HELD | +0 | 825.8K | +$24,773 | $3M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2026
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | BCSFBAIN CAP SPECIALTY FIN INChistory → | COM STK | 48.39% | $147M | 11.82M |
| 2 | INVESCO EXCH TRADED FD TR II | SR LN ETF | 24.64% | $75M | 3.66M |
| 3 | ISHARES TR | IBOXX HI YD ETF | 23.35% | $71M | 889.1K |
| 4 | OSGOCTAVE SPECIALTY GROUP INChistory → | COM NEW | 1.70% | $5M | 1.11M |
| 5 | ASTLALGOMA STL GROUP INChistory → | COM | 1.13% | $3M | 825.8K |
| 6 | SSGA ACTIVE ETF TR | STATE STREET BLA | 0.80% | $2M | 60.1K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $303M | 6 | May 14, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $382M | 6 | Feb 17, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $317M | 6 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $276M | 6 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $409M | 6 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $449M | 7 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $484M | 8 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $507M | 7 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $519M | 6 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $577M | 6 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $615M | 9 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $572M | 9 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $463M | 8 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $256M | 8 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $287M | 8 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $526M | 9 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $642M | 10 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $685M | 21 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $547M | 19 | Nov 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $508M | 20 | Aug 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $451M | 12 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $354M | 18 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $347M | 20 | Nov 16, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $291M | 18 | Aug 19, 2020 | RESTATEMENT | changes · EDGAR ↗ |
| Q1 2020REVEALED | $233M | 36 | May 15, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $277M | 14 | Feb 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $199M | 14 | Nov 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $143M | 18 | Aug 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $71M | 17 | May 15, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018REVEALED | $138M | 18 | Feb 27, 2019 | RESTATEMENT | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.