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.
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
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MC
Muzinich & Co
New York
|
+$12.3M |
| 2 |
Acadian Asset Management
Boston,
Massachusetts
|
+$9.78M |
| 3 |
AL
AJO LP
Philadelphia,
Pennsylvania
|
+$6.01M |
| 4 |
C
Cliffwater
Marina Del Rey,
California
|
+$3.53M |
| 5 |
Arrowstreet Capital
Boston,
Massachusetts
|
+$2.49M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CFG
CNO Financial Group
Carmel,
Indiana
|
-$18.8M |
| 2 |
VNIM
Vaughan Nelson Investment Management
Houston,
Texas
|
-$18.6M |
| 3 |
AM
Ares Management
Los Angeles,
California
|
-$3.03M |
| 4 |
AllianceBernstein
Nashville,
Tennessee
|
-$2.54M |
| 5 |
FWIA
Fort Washington Investment Advisors
Cincinnati,
Ohio
|
-$2.52M |
TCPC Hedge Fund Activity: Q4 2018 in Review
127 of the 4,505 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.