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BlackRock TCP Capital
TCPC

96 hedge funds and large institutions have $460M invested in BlackRock TCP Capital in 2016 Q3 according to their latest regulatory filings, with 8 funds opening new positions, 42 increasing their positions, 32 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

31% more repeat investments, than reductions

Existing positions increased: 42 | Existing positions reduced: 32

23% more capital invested

Capital invested by funds: $375M → $460M (+$85.3M)

0% more funds holding in top 10

Funds holding in top 10: 4 → 4 (0)

5% less funds holding

Funds holding: 101 → 96 (-5)

27% less first-time investments, than exits

New positions opened: 8 | Existing positions closed: 11

Holders
96
Holders Change
-5
Holders Change %
-4.95%
% of All Funds
2.56%
Holding in Top 10
4
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.11%
New
8
Increased
42
Reduced
32
Closed
11
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
BAM
Burgundy Asset Management
Ontario, Canada
+$50M
2
State of New Jersey Common Pension Fund D
State of New Jersey Common Pension Fund D
New Jersey
+$9.6M
3
MC
Muzinich & Co
New York
+$5.7M
4
Wells Fargo
Wells Fargo
California
+$4.92M
5
AM
Ares Management
California
+$4.15M

Top Sellers

1
Axa
Axa
France
-$12.6M
2
Invesco
Invesco
Georgia
-$1.78M
3
AAM
Advisors Asset Management
Colorado
-$1.64M
4
ClearBridge Investments
ClearBridge Investments
New York
-$1.34M
5
Millennium Management
Millennium Management
New York
-$1.14M
Name Holding Trade Value Shares
Change 		Change in
Stake
Wells Fargo
1
Wells Fargo
California
$66.9M +$4.92M +307,379 +8%
BAM
2
Burgundy Asset Management
Ontario, Canada
$51.1M +$50M +3,120,997 New
VNIM
3
Vaughan Nelson Investment Management
Texas
$46.8M +$1.26M +78,600 +3%
ClearBridge Investments
4
ClearBridge Investments
New York
$33.6M -$1.34M -83,500 -4%
CFG
5
CNO Financial Group
Indiana
$33M – – –
B
6
Barings
North Carolina
$26.3M – – –
T. Rowe Price Associates
7
T. Rowe Price Associates
Maryland
$17.5M +$20.5K +1,280 +0.1%
AllianceBernstein
8
AllianceBernstein
Tennessee
$17.4M -$874K -54,577 -5%
UBS Group
9
UBS Group
Switzerland
$15.8M +$1.21M +75,455 +8%
MC
10
Muzinich & Co
New York
$15.4M +$5.7M +356,353 +61%
CIM
11
Confluence Investment Management
Missouri
$12.2M +$1M +62,558 +9%
State of New Jersey Common Pension Fund D
12
State of New Jersey Common Pension Fund D
New Jersey
$9.83M +$9.6M +600,000 New
AM
13
Ares Management
California
$7.76M +$4.15M +259,067 +121%
YMRC
14
Yorktown Management & Research Company
Virginia
$6.91M -$288K -18,000 -4%
AAM
15
Advisors Asset Management
Colorado
$6.74M -$1.64M -102,705 -20%
LCP
16
Lombardia Capital Partners
California
$5.8M +$69.1K +4,318 +1%
Invesco
17
Invesco
Georgia
$4.96M -$1.78M -111,321 -27%
Neuberger Berman Group
18
Neuberger Berman Group
New York
$4.95M +$48K +3,000 +1%
GC
19
Guggenheim Capital
Illinois
$4.56M +$1.07M +66,566 +31%
Natixis Advisors
20
Natixis Advisors
Massachusetts
$4.54M +$60.5K +3,778 +1%
BG
21
BlackRock Group
United Kingdom
$4.1M -$192K -11,980 -5%
Morgan Stanley
22
Morgan Stanley
New York
$4.07M -$985K -61,560 -20%
VanEck Associates
23
VanEck Associates
New York
$3.48M +$339K +21,186 +11%
MCM
24
McKinley Capital Management
Alaska
$3.41M +$348K +21,740 +12%
ACM
25
Advisors Capital Management
New Jersey
$3.31M +$324K +20,261 +11%
1
2 3 4 5

TCPC Hedge Fund Activity: Q3 2016 in Review

96 of the 3,748 institutional investors tracked by Wall St. Rank reported a position in BlackRock TCP Capital (TCPC) for Q3 2016, worth a combined $460M — up 23% from $375M a quarter earlier.

Sellers outnumbered buyers: 11 funds closed out of TCPC and 8 opened new positions — a net loss of 3 holders — while 32 trimmed existing stakes and 42 added.

The largest buyer was Burgundy Asset Management, opening a new position worth an estimated $50M. The largest seller was Axa, exiting entirely with an estimated $12.6M sold.

  • 96 institutional investors held BlackRock TCP Capital (TCPC) as of Q3 2016, down from 101 in Q2 2016.
  • Funds reported $460M of BlackRock TCP Capital stock for Q3 2016, up 23% quarter-over-quarter.
  • 8 funds opened new BlackRock TCP Capital positions in Q3 2016 and 11 closed out, a net change of -3 holders.
  • The largest BlackRock TCP Capital buyer in Q3 2016 was Burgundy Asset Management, an estimated $50M added.
  • The largest BlackRock TCP Capital seller in Q3 2016 was Axa, an estimated $12.6M sold.

Based on aggregated 13F filings for Q3 2016.