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BlackRock TCP Capital
TCPC

111 hedge funds and large institutions have $482M invested in BlackRock TCP Capital in 2017 Q4 according to their latest regulatory filings, with 20 funds opening new positions, 35 increasing their positions, 39 reducing their positions, and 16 closing their positions.

New
Increased
Maintained
Reduced
Closed

25% more first-time investments, than exits

New positions opened: 20 | Existing positions closed: 16

3% more funds holding

Funds holding: 108 → 111 (+3)

0% more funds holding in top 10

Funds holding in top 10: 4 → 4 (0)

0.79% less ownership

Funds ownership: 54.41% → 53.62% (-0.79%)

9% less capital invested

Capital invested by funds: $527M → $482M (-$45M)

10% less repeat investments, than reductions

Existing positions increased: 35 | Existing positions reduced: 39

100% less call options, than puts

Call options by funds: $0 | Put options by funds: $3K

Holders
111
Holders Change
+3
Holders Change %
+2.78%
% of All Funds
2.52%
Holding in Top 10
4
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.09%
New
20
Increased
35
Reduced
39
Closed
16
Calls
–
Puts
$3K
Net Calls
-$3K
Net Calls Change
-$229K

Top Buyers

Rank Fund Capital Flow
1
KCM
Kennedy Capital Management
Missouri
+$4.16M
2
BAM
Burgundy Asset Management
Ontario, Canada
+$3.36M
3
Arrowstreet Capital
Arrowstreet Capital
Massachusetts
+$3.12M
4
D.E. Shaw & Co
D.E. Shaw & Co
New York
+$1.68M
5
State of Tennessee, Department of Treasury
State of Tennessee, Department of Treasury
Tennessee
+$1.03M

Top Sellers

Rank Fund Capital Flow
1
MC
Muzinich & Co
New York
-$8.17M
2
YMRC
Yorktown Management & Research Company
Virginia
-$7.42M
3
UBS Group
UBS Group
Switzerland
-$2.38M
4
AllianceBernstein
AllianceBernstein
Tennessee
-$2.29M
5
AAMU
Amundi Asset Management US
Massachusetts
-$1.72M
Name Holding Trade Value Shares
Change 		Change in
Stake
Invesco
26
Invesco
Georgia
$4.17M -$180K -11,233 -4%
Natixis Advisors
27
Natixis Advisors
Massachusetts
$3.98M -$377K -23,548 -8%
Two Sigma Investments
28
Two Sigma Investments
New York
$3.4M +$993K +62,057 +39%
D.E. Shaw & Co
29
D.E. Shaw & Co
New York
$3.18M +$1.68M +104,932 +102%
DADC
30
D.A. Davidson & Co
Montana
$2.89M +$128K +8,023 +4%
Legal & General Group
31
Legal & General Group
United Kingdom
$2.78M +$180K +11,257 +7%
MCM
32
McKinley Capital Management
Alaska
$2.46M -$164K -10,264 -6%
Stifel Financial
33
Stifel Financial
Missouri
$2.03M -$25.7K -1,607 -1%
CIBC Private Wealth Group
34
CIBC Private Wealth Group
Georgia
$1.65M -$2.9K -181 -0.2%
FWIA
35
Fort Washington Investment Advisors
Ohio
$1.64M +$2.4K +150 +0.1%
RJA
36
Raymond James & Associates
Florida
$1.45M -$4.59K -287 -0.3%
PI
37
Putnam Investments
Massachusetts
$1.41M -$1.43M -89,288 -49%
Bank of Montreal
38
Bank of Montreal
Ontario, Canada
$1.41M +$752K +47,000 +104%
TFCM
39
Taylor Frigon Capital Management
Arizona
$1.4M +$1.47M +91,824 New
California Public Employees Retirement System
40
California Public Employees Retirement System
California
$1.38M +$52.8K +3,300 +4%
PAWC
41
P.A.W. Capital
Connecticut
$1.38M +$208K +13,000 +17%
OAM
42
Oxford Asset Management
United Kingdom
$1.33M +$107K +6,710 +8%
RJFSA
43
Raymond James Financial Services Advisors
Florida
$1.3M +$92K +5,751 +7%
Morgan Stanley
44
Morgan Stanley
New York
$1.3M +$324K +20,279 +31%
MCM
45
Monument Capital Management
Virginia
$1.23M +$1.29M +80,614 New
LC
46
Lubar & Co
Wisconsin
$1.17M – – –
Bank of America
47
Bank of America
North Carolina
$1.11M -$75.6K -4,723 -6%
CBB
48
Citizens Business Bank
California
$1.02M – – –
RVPG
49
Relative Value Partners Group
$1M +$192K +12,008 +22%
State of Tennessee, Department of Treasury
50
State of Tennessee, Department of Treasury
Tennessee
$981K +$1.03M +64,200 New
1
2
3 4 5

TCPC Hedge Fund Activity: Q4 2017 in Review

111 of the 4,409 institutional investors tracked by Wall St. Rank reported a position in BlackRock TCP Capital (TCPC) for Q4 2017, worth a combined $482M — down 8.5% from $527M a quarter earlier.

Buyers outnumbered sellers: 20 funds opened new TCPC positions and 16 closed out — a net gain of 4 holders — while 35 added to existing stakes and 39 trimmed.

The largest buyer was Kennedy Capital Management, adding an estimated $4.16M. The largest seller was Muzinich & Co, cutting an estimated $8.17M.

  • 111 institutional investors held BlackRock TCP Capital (TCPC) as of Q4 2017, up from 108 in Q3 2017.
  • Funds reported $482M of BlackRock TCP Capital stock for Q4 2017, down 8.5% quarter-over-quarter.
  • 20 funds opened new BlackRock TCP Capital positions in Q4 2017 and 16 closed out, a net change of +4 holders.
  • The largest BlackRock TCP Capital buyer in Q4 2017 was Kennedy Capital Management, an estimated $4.16M added.
  • The largest BlackRock TCP Capital seller in Q4 2017 was Muzinich & Co, an estimated $8.17M sold.

Based on aggregated 13F filings for Q4 2017.