Texas fund reports 13.5% stake in Crescent Capital

Texas County & District Retirement System reports a significant passive stake in Crescent Capital BDC, Inc. It beneficially owns 5,001,752 shares of common stock, representing 13.50% of the class as of 12/31/2025.

Rhea-AI Filing Summary

Texas County & District Retirement System reports a significant passive stake in Crescent Capital BDC, Inc. It beneficially owns 5,001,752 shares of common stock, representing 13.50% of the class as of 12/31/2025.

The fund has sole power to vote and dispose of all 5,001,752 shares, with no shared voting or dispositive power. It certifies the position was acquired and is held in the ordinary course of business and not for the purpose of changing or influencing control of Crescent Capital BDC.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What ownership stake does Texas County & District Retirement System hold in CCAP?

Texas County & District Retirement System holds 5,001,752 Crescent Capital BDC shares, representing 13.50% of the common stock outstanding. This makes it a significant institutional shareholder with a notable position in the company’s equity structure.

Is Texas County & District Retirement System a passive investor in Crescent Capital BDC (CCAP)?

Yes. The filing certifies the shares were acquired and are held in the ordinary course of business, not to change or influence control. This indicates a passive investment posture rather than an activist or control-seeking strategy toward Crescent Capital BDC.

What voting and dispositive powers does the Texas fund have over CCAP shares?

The fund has sole power to vote or direct the vote for 5,001,752 Crescent Capital BDC shares and sole power to dispose of the same amount. It reports zero shared voting or shared dispositive power over the company’s common stock.

On what date was the CCAP ownership level measured for this Schedule 13G/A?

The ownership information is reported as of December 31, 2025, which is the event date triggering the Schedule 13G/A amendment. That date anchors the 5,001,752 shares and 13.50% beneficial ownership stake disclosed in the filing.

Why did Texas County & District Retirement System file an amended Schedule 13G/A for CCAP?

The amended Schedule 13G/A updates Crescent Capital BDC ownership details, showing a 13.50% stake and 5,001,752 shares held. Amendments are required when beneficial ownership or other key disclosure items materially change from prior reported levels.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 02/12/2026 - 12:49 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 12)

Crescent Capital BDC, Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

225655109

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 225655109

1

Names of Reporting Persons

Texas County & District Retirement System

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 5,001,752.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 5,001,752.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,001,752.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

13.50 %

12

Type of Reporting Person (See Instructions)

EP

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Crescent Capital BDC, Inc
(b)	Address of issuer's principal executive offices: 11100 Santa Monica Blvd, Ste 2000, Los Angeles, CA, 90025
Item 2.
(a)	Name of person filing: Texas County & District Retirement System
(b)	Address or principal business office or, if none, residence: 901 Mopac South, Barton Oaks Plaza, Ste 500, Austin, Texas 78746
(c)	Citizenship: Texas
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 225655109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 5,001,752
(b)	Percent of class: 13.50 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 5,001,752
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 5,001,752
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Texas County & District Retirement System

Signature:	/s/ Russell Newbury
Name/Title:	Deputy Investment Officer- Operations
Date:	02/12/2026