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Target Hospitality

131 hedge funds and large institutions have $197M invested in Target Hospitality in 2025 Q1 according to their latest regulatory filings, with 30 funds opening new positions, 47 increasing their positions, 36 reducing their positions, and 27 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more funds holding in top 10

Funds holding in top 10: 24 (+2)

81% more call options, than puts

Call options by funds: $12.9M | Put options by funds: $7.12M

31% more repeat investments, than reductions

Existing positions increased: 47 | Existing positions reduced: 36

11% more first-time investments, than exits

New positions opened: 30 | Existing positions closed: 27

2% more funds holding

Funds holding: 129131 (+2)

1.38% more ownership

Funds ownership: 28.8%30.18% (+1.4%)

28% less capital invested

Capital invested by funds: $275M → $197M (-$78.1M)

Holders
131
Holders Change
+2
Holders Change %
+1.55%
% of All Funds
1.76%
Holding in Top 10
4
Holding in Top 10 Change
+2
Holding in Top 10 Change %
+100%
% of All Funds
0.05%
New
30
Increased
47
Reduced
36
Closed
27
Calls
$12.9M
Puts
$7.12M
Net Calls
+$5.77M
Net Calls Change
-$20.9M
Name Holding Trade Value Shares
Change
Change in
Stake
PA
126
Parallel Advisors
California
$355 +$433 +54 New
CCM
127
Coldstream Capital Management
Washington
$257 +$313 +39 New
SCM
128
Sterling Capital Management
North Carolina
$224
SW
129
SVB Wealth
Massachusetts
$165 +$201 +25 New
FFO
130
Fortitude Family Office
Arizona
$66
SS
131
SBI Securities
Japan
$20 +$8 +1 +50%
CC
132
Conversant Capital
New Jersey
-$47.3M -4,889,046 Closed
ECP
133
Empyrean Capital Partners
California
-$9.78M -1,012,000 Closed
IECM
134
Intrinsic Edge Capital Management
Illinois
-$4.35M -450,000 Closed
CM
135
Caption Management
Oklahoma
-$1.79M -185,329 Closed
RC
136
Rangeley Capital
Connecticut
-$1.39M -144,300 Closed
GCM
137
Graham Capital Management
Connecticut
-$534K -55,260 Closed
Walleye Trading
138
Walleye Trading
New York
-$303K -37,726 Closed
AA
139
ALPS Advisors
Colorado
-$340K -35,150 Closed
DS
140
DRW Securities
Illinois
-$320K -33,158 Closed
Stifel Financial
141
Stifel Financial
Missouri
-$242K -25,071 Closed
CCIA
142
Campbell & Co Investment Adviser
Maryland
-$213K -22,046 Closed
GAM
143
Gotham Asset Management
New York
-$166K -17,201 Closed
CIEC
144
Crédit Industriel et Commercial
France
-$166K -17,160 Closed
D.E. Shaw & Co
145
D.E. Shaw & Co
New York
-$150K -15,503 Closed
FRM
146
Fox Run Management
Connecticut
-$140K -14,473 Closed
NPT
147
National Philanthropic Trust
Pennsylvania
-$117K -12,069 Closed
XT
148
XTX Topco
Cayman Islands
-$113K -11,716 Closed
Two Sigma Advisers
149
Two Sigma Advisers
New York
-$105K -10,900 Closed
VOYA Investment Management
150
VOYA Investment Management
Georgia
-$99.2K -10,259 Closed

TH Hedge Fund Activity: Q1 2025 in Review

131 of the 7,457 institutional investors tracked by Wall St. Rank reported a position in Target Hospitality (TH) for Q1 2025, worth a combined $197M — down 28% from $275M a quarter earlier.

Buyers outnumbered sellers: 30 funds opened new TH positions and 27 closed out — a net gain of 3 holders — while 47 added to existing stakes and 36 trimmed.

The largest buyer was Appian Way Asset Management, opening a new position worth an estimated $14.5M. The largest seller was Conversant Capital, exiting entirely with an estimated $47.3M sold.

  • 131 institutional investors held Target Hospitality (TH) as of Q1 2025, up from 129 in Q4 2024.
  • Funds reported $197M of Target Hospitality stock for Q1 2025, down 28% quarter-over-quarter.
  • 30 funds opened new Target Hospitality positions in Q1 2025 and 27 closed out, a net change of +3 holders.
  • The largest Target Hospitality buyer in Q1 2025 was Appian Way Asset Management, an estimated $14.5M added.
  • The largest Target Hospitality seller in Q1 2025 was Conversant Capital, an estimated $47.3M sold.

Based on aggregated 13F filings for Q1 2025.