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BlackRock TCP Capital
TCPC

114 hedge funds and large institutions have $315M invested in BlackRock TCP Capital in 2019 Q3 according to their latest regulatory filings, with 16 funds opening new positions, 43 increasing their positions, 28 reducing their positions, and 18 closing their positions.

New
Increased
Maintained
Reduced
Closed

54% more repeat investments, than reductions

Existing positions increased: 43 | Existing positions reduced: 28

0.38% more ownership

Funds ownership: 39.11% → 39.49% (+0.38%)

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

4% less capital invested

Capital invested by funds: $327M → $315M (-$12.9M)

2% less funds holding

Funds holding: 116 → 114 (-2)

11% less first-time investments, than exits

New positions opened: 16 | Existing positions closed: 18

Holders
114
Holders Change
-2
Holders Change %
-1.72%
% of All Funds
2.5%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.04%
New
16
Increased
43
Reduced
28
Closed
18
Calls
$218K
Puts
–
Net Calls
+$218K
Net Calls Change
+$68K

Top Buyers

1
Acadian Asset Management
Acadian Asset Management
Massachusetts
+$22.8M
2
SOMRS
State of Michigan Retirement System
Michigan
+$21M
3
Two Sigma Advisers
Two Sigma Advisers
New York
+$2.34M
4
KCM
Kennedy Capital Management
Missouri
+$2.2M
5
Two Sigma Investments
Two Sigma Investments
New York
+$1.6M

Top Sellers

1
VNIM
Vaughan Nelson Investment Management
Texas
-$13.9M
2
ClearBridge Investments
ClearBridge Investments
New York
-$11.7M
3
Wells Fargo
Wells Fargo
California
-$10.2M
4
AL
AJO LP
Pennsylvania
-$3.46M
5
Millennium Management
Millennium Management
New York
-$2.98M
Name Holding Trade Value Shares
Change 		Change in
Stake
BAM
1
Burgundy Asset Management
Ontario, Canada
$33.5M +$265K +19,250 +0.8%
Acadian Asset Management
2
Acadian Asset Management
Massachusetts
$22.4M +$22.8M +1,653,825 New
B
3
Barings
North Carolina
$21.7M – – –
SOMRS
4
State of Michigan Retirement System
Michigan
$21M +$21M +1,524,000 +6,340%
Wells Fargo
5
Wells Fargo
California
$18.7M -$10.2M -739,848 -35%
Arrowstreet Capital
6
Arrowstreet Capital
Massachusetts
$12.8M -$1.02M -74,171 -7%
CIM
7
Confluence Investment Management
Missouri
$10.9M -$492K -35,734 -4%
KCM
8
Kennedy Capital Management
Missouri
$10.4M +$2.2M +159,674 +26%
UBS Group
9
UBS Group
Switzerland
$9.33M -$803K -58,288 -8%
C
10
Cliffwater
California
$9.21M +$555K +40,268 +6%
MC
11
Muzinich & Co
New York
$7.55M -$2.3M -167,049 -23%
VanEck Associates
12
VanEck Associates
New York
$7.25M +$607K +44,063 +9%
CFG
13
CNO Financial Group
Indiana
$6.99M – – –
LSV Asset Management
14
LSV Asset Management
Illinois
$6.73M -$1.22M -88,900 -15%
Neuberger Berman Group
15
Neuberger Berman Group
New York
$6.73M – – –
Two Sigma Investments
16
Two Sigma Investments
New York
$6.63M +$1.6M +116,125 +31%
Two Sigma Advisers
17
Two Sigma Advisers
New York
$6.54M +$2.34M +169,900 +54%
ACM
18
Advisors Capital Management
New Jersey
$5.64M +$437K +31,717 +8%
GC
19
Guggenheim Capital
Illinois
$5.19M -$210K -15,245 -4%
Bank of America
20
Bank of America
North Carolina
$4.65M -$513K -37,263 -10%
BlackRock
21
BlackRock
New York
$4.28M +$738K +53,615 +20%
VEA
22
Virtus ETF Advisers
New York
$4.26M +$918K +66,645 +27%
Bank of Montreal
23
Bank of Montreal
Ontario, Canada
$4.16M -$26.2K -1,900 -0.6%
PAIM
24
Punch & Associates Investment Management
Minnesota
$4.03M +$426K +30,933 +12%
Legal & General Group
25
Legal & General Group
United Kingdom
$3.96M – – –
1
2 3 4 5

TCPC Hedge Fund Activity: Q3 2019 in Review

114 of the 4,560 institutional investors tracked by Wall St. Rank reported a position in BlackRock TCP Capital (TCPC) for Q3 2019, worth a combined $315M — down 3.9% from $327M a quarter earlier.

Sellers outnumbered buyers: 18 funds closed out of TCPC and 16 opened new positions — a net loss of 2 holders — while 28 trimmed existing stakes and 43 added.

The largest buyer was Acadian Asset Management, opening a new position worth an estimated $22.8M. The largest seller was Vaughan Nelson Investment Management, exiting entirely with an estimated $13.9M sold.

  • 114 institutional investors held BlackRock TCP Capital (TCPC) as of Q3 2019, down from 116 in Q2 2019.
  • Funds reported $315M of BlackRock TCP Capital stock for Q3 2019, down 3.9% quarter-over-quarter.
  • 16 funds opened new BlackRock TCP Capital positions in Q3 2019 and 18 closed out, a net change of -2 holders.
  • The largest BlackRock TCP Capital buyer in Q3 2019 was Acadian Asset Management, an estimated $22.8M added.
  • The largest BlackRock TCP Capital seller in Q3 2019 was Vaughan Nelson Investment Management, an estimated $13.9M sold.

Based on aggregated 13F filings for Q3 2019.