BlackRock TCP Capital
TCPC
127 hedge funds and large institutions have $114M invested in BlackRock TCP Capital in 2025 Q4 according to their latest regulatory filings, with 25 funds opening new positions, 28 increasing their positions, 44 reducing their positions, and 36 closing their positions.
24% more call options, than puts
Call options by funds: $114K | Put options by funds: $92K
0.02% more ownership
Funds ownership: 24.54% → 24.56% (+0.02%)
9% less funds holding
Funds holding: 140 → 127 (-13)
12% less capital invested
Capital invested by funds: $129M → $114M (-$15.4M)
31% less first-time investments, than exits
New positions opened: 25 | Existing positions closed: 36
36% less repeat investments, than reductions
Existing positions increased: 28 | Existing positions reduced: 44
50% less funds holding in top 10
Funds holding in top 10: 2 → 1 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Invesco
Atlanta,
Georgia
|
+$2.47M |
| 2 |
CC
CF Capital
Cohasset,
Massachusetts
|
+$1.66M |
| 3 |
NCM
Next Capital Management
New York
|
+$1.63M |
| 4 |
Morgan Stanley
New York
|
+$1.54M |
| 5 |
Two Sigma Investments
New York
|
+$1.46M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Marshall Wace
London,
United Kingdom
|
-$2.75M |
| 2 |
GA
GraniteShares Advisors
New York
|
-$2.17M |
| 3 |
DADC
D.A. Davidson & Co
Great Falls,
Montana
|
-$1.31M |
| 4 |
NEAM
New England Asset Management
Farmington,
Connecticut
|
-$1.05M |
| 5 |
VanEck Associates
New York
|
-$1.02M |
TCPC Hedge Fund Activity: Q4 2025 in Review
127 of the 8,270 institutional investors tracked by Wall St. Rank reported a position in BlackRock TCP Capital (TCPC) for Q4 2025, worth a combined $114M — down 12% from $129M a quarter earlier.
Sellers outnumbered buyers: 36 funds closed out of TCPC and 25 opened new positions — a net loss of 11 holders — while 44 trimmed existing stakes and 28 added.
The largest buyer was Invesco, adding an estimated $2.47M. The largest seller was Marshall Wace, cutting an estimated $2.75M.
- 127 institutional investors held BlackRock TCP Capital (TCPC) as of Q4 2025, down from 140 in Q3 2025.
- Funds reported $114M of BlackRock TCP Capital stock for Q4 2025, down 12% quarter-over-quarter.
- 25 funds opened new BlackRock TCP Capital positions in Q4 2025 and 36 closed out, a net change of -11 holders.
- The largest BlackRock TCP Capital buyer in Q4 2025 was Invesco, an estimated $2.47M added.
- The largest BlackRock TCP Capital seller in Q4 2025 was Marshall Wace, an estimated $2.75M sold.
Based on aggregated 13F filings for Q4 2025.