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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

Rank Fund Capital Flow
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

Rank Fund Capital Flow
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
LC
51
Lubar & Co
Wisconsin
$998K – – –
Morgan Stanley
52
Morgan Stanley
New York
$911K +$426K +30,579 +78%
SIG
53
Sargent Investment Group
Maryland
$879K +$940K +67,420 New
Commonwealth Equity Services
54
Commonwealth Equity Services
Massachusetts
$849K +$136K +9,787 +18%
Goldman Sachs
55
Goldman Sachs
New York
$819K +$875K +62,777 New
AIM
56
Assured Investment Management
New York
$750K +$234K +16,786 +41%
GCP
57
GSA Capital Partners
United Kingdom
$730K +$31.7K +2,271 +4%
RIG
58
Roosevelt Investment Group
New York
$722K +$772K +55,391 New
CCM
59
Covington Capital Management
California
$719K -$108K -7,752 -12%
AG
60
Advisor Group
Arizona
$708K +$475K +34,098 +169%
Aberdeen Group
61
Aberdeen Group
United Kingdom
$707K +$739K +53,000 New
OAM
62
Oxford Asset Management
United Kingdom
$702K -$509K -36,521 -40%
Bank of New York Mellon
63
Bank of New York Mellon
New York
$700K +$241K +17,299 +48%
SCM
64
Shelton Capital Management
Colorado
$685K -$139K -10,000 -16%
Northern Trust
65
Northern Trust
Illinois
$659K -$7.6K -545 -1%
WFI
66
West Family Investments
California
$640K – – –
PAWC
67
P.A.W. Capital
Connecticut
$587K -$976K -70,000 -61%
PI
68
PineBridge Investments
New York
$546K +$23K +1,653 +4%
Mackenzie Financial
69
Mackenzie Financial
Ontario, Canada
$544K – – –
OC
70
Oppenheimer & Co
New York
$536K +$45.8K +3,287 +9%
Royal Bank of Canada
71
Royal Bank of Canada
Ontario, Canada
$501K -$20.3K -1,454 -4%
Russell Investments Group
72
Russell Investments Group
United Kingdom
$487K +$516K +37,026 New
LTFS
73
Ladenburg Thalmann Financial Services
Florida
$478K -$11.6K -832 -2%
Natixis Advisors
74
Natixis Advisors
Massachusetts
$437K -$711K -50,974 -60%
AIM
75
Allen Investment Management
New York
$423K – – –
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.