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BlackRock TCP Capital
TCPC

127 hedge funds and large institutions have $343M invested in BlackRock TCP Capital in 2018 Q4 according to their latest regulatory filings, with 34 funds opening new positions, 34 increasing their positions, 40 reducing their positions, and 18 closing their positions.

New
Increased
Maintained
Reduced
Closed

89% more first-time investments, than exits

New positions opened: 34 | Existing positions closed: 18

33% more funds holding in top 10

Funds holding in top 10: 3 → 4 (+1)

14% more funds holding

Funds holding: 111 → 127 (+16)

0.23% less ownership

Funds ownership: 45.59% → 45.36% (-0.23%)

10% less capital invested

Capital invested by funds: $382M → $343M (-$38.6M)

15% less repeat investments, than reductions

Existing positions increased: 34 | Existing positions reduced: 40

100% less call options, than puts

Call options by funds: $0 | Put options by funds: $209K

Holders
127
Holders Change
+16
Holders Change %
+14.41%
% of All Funds
2.83%
Holding in Top 10
4
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+33.33%
% of All Funds
0.09%
New
34
Increased
34
Reduced
40
Closed
18
Calls
–
Puts
$209K
Net Calls
-$209K
Net Calls Change
-$236K

Top Buyers

1
MC
Muzinich & Co
New York
+$12.3M
2
Acadian Asset Management
Acadian Asset Management
Massachusetts
+$9.78M
3
AL
AJO LP
Pennsylvania
+$6.01M
4
C
Cliffwater
California
+$3.53M
5
Arrowstreet Capital
Arrowstreet Capital
Massachusetts
+$2.49M

Top Sellers

1
CFG
CNO Financial Group
Indiana
-$18.8M
2
VNIM
Vaughan Nelson Investment Management
Texas
-$18.6M
3
AM
Ares Management
California
-$3.03M
4
AllianceBernstein
AllianceBernstein
Tennessee
-$2.54M
5
FWIA
Fort Washington Investment Advisors
Ohio
-$2.52M
Name Holding Trade Value Shares
Change 		Change in
Stake
PAIM
26
Punch & Associates Investment Management
Minnesota
$3.34M -$106K -7,579 -3%
RJA
27
Raymond James & Associates
Florida
$3.33M +$1.3M +93,037 +57%
DADC
28
D.A. Davidson & Co
Montana
$3.24M +$143K +10,239 +4%
AAM
29
Advisors Asset Management
Colorado
$3.14M -$695K -49,871 -17%
FWIA
30
Fort Washington Investment Advisors
Ohio
$2.94M -$2.52M -180,928 Closed
AR
31
Advisory Research
Illinois
$2.6M -$732K -52,478 -21%
MCM
32
McKinley Capital Management
Alaska
$2.49M -$182K -13,090 -6%
SMDAM
33
Sumitomo Mitsui DS Asset Management
Japan
$2.38M -$704K -50,527 -22%
Arrowstreet Capital
34
Arrowstreet Capital
Massachusetts
$2.33M +$2.49M +178,439 New
Invesco
35
Invesco
Georgia
$2.17M -$2.01M -144,384 -46%
Ameriprise
36
Ameriprise
Minnesota
$1.89M +$1.32M +94,407 +187%
BRWA
37
B. Riley Wealth Advisors
Florida
$1.75M +$1.29M +92,350 +221%
DBT
38
Dubuque Bank & Trust
Iowa
$1.69M +$1.8M +129,265 New
Bank of Montreal
39
Bank of Montreal
Ontario, Canada
$1.59M – – –
RVPG
40
Relative Value Partners Group
$1.54M +$42.8K +3,070 +3%
D.E. Shaw & Co
41
D.E. Shaw & Co
New York
$1.46M -$1.98M -142,373 -56%
Stifel Financial
42
Stifel Financial
Missouri
$1.4M -$156K -11,186 -9%
BI
43
Bramshill Investments
Florida
$1.4M +$15.8K +1,130 +1%
RA
44
Royce & Associates
New York
$1.31M +$1.4M +100,587 New
CIBC Private Wealth Group
45
CIBC Private Wealth Group
Georgia
$1.26M +$147K +10,513 +12%
RJFSA
46
Raymond James Financial Services Advisors
Florida
$1.22M -$57.3K -4,113 -4%
CBB
47
Citizens Business Bank
California
$1.21M +$354K +25,420 +38%
California Public Employees Retirement System
48
California Public Employees Retirement System
California
$1.16M -$54.4K -3,900 -4%
Susquehanna International Group
49
Susquehanna International Group
Pennsylvania
$1.12M +$1.02M +73,321 +587%
MCM
50
Monument Capital Management
Virginia
$1.07M +$1.14M +81,910 New
1
2
3 4 5

TCPC Hedge Fund Activity: Q4 2018 in Review

127 of the 4,488 institutional investors tracked by Wall St. Rank reported a position in BlackRock TCP Capital (TCPC) for Q4 2018, worth a combined $343M — down 10% from $382M a quarter earlier.

Buyers outnumbered sellers: 34 funds opened new TCPC positions and 18 closed out — a net gain of 16 holders — while 34 added to existing stakes and 40 trimmed.

The largest buyer was Muzinich & Co, adding an estimated $12.3M. The largest seller was CNO Financial Group, cutting an estimated $18.8M.

  • 127 institutional investors held BlackRock TCP Capital (TCPC) as of Q4 2018, up from 111 in Q3 2018.
  • Funds reported $343M of BlackRock TCP Capital stock for Q4 2018, down 10% quarter-over-quarter.
  • 34 funds opened new BlackRock TCP Capital positions in Q4 2018 and 18 closed out, a net change of +16 holders.
  • The largest BlackRock TCP Capital buyer in Q4 2018 was Muzinich & Co, an estimated $12.3M added.
  • The largest BlackRock TCP Capital seller in Q4 2018 was CNO Financial Group, an estimated $18.8M sold.

Based on aggregated 13F filings for Q4 2018.