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Target Hospitality
TH

137 hedge funds and large institutions have $259M invested in Target Hospitality in 2025 Q4 according to their latest regulatory filings, with 19 funds opening new positions, 48 increasing their positions, 44 reducing their positions, and 16 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more call options, than puts

Call options by funds: $5.29M | Put options by funds: $2.64M

19% more first-time investments, than exits

New positions opened: 19 | Existing positions closed: 16

2% more funds holding

Funds holding: 134 → 137 (+3)

1.27% more ownership

Funds ownership: 31.17% → 32.44% (+1.3%)

9% more repeat investments, than reductions

Existing positions increased: 48 | Existing positions reduced: 44

2% less capital invested

Capital invested by funds: $264M → $259M (-$4.42M)

50% less funds holding in top 10

Funds holding in top 10: 4 → 2 (-2)

Holders
137
Holders Change
+3
Holders Change %
+2.24%
% of All Funds
1.67%
Holding in Top 10
2
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-50%
% of All Funds
0.02%
New
19
Increased
48
Reduced
44
Closed
16
Calls
$5.29M
Puts
$2.64M
Net Calls
+$2.65M
Net Calls Change
-$589K

Top Buyers

Rank Fund Capital Flow
1
PFMOSF
Philadelphia Financial Management of San Francisco
California
+$6.12M
2
LCM
Lonestar Capital Management
California
+$3.79M
3
RA
Royce & Associates
New York
+$2.65M
4
PCM
Philosophy Capital Management
California
+$2.17M
5
Dimensional Fund Advisors
Dimensional Fund Advisors
Texas
+$1.3M

Top Sellers

Rank Fund Capital Flow
1
SC
Shay Capital
New York
-$2.64M
2
Teacher Retirement System of Texas
Teacher Retirement System of Texas
Texas
-$1.95M
3
CCPM
Cooper Creek Partners Management
New York
-$1.84M
4
Tudor Investment Corp
Tudor Investment Corp
Connecticut
-$1.75M
5
Bank of New York Mellon
Bank of New York Mellon
New York
-$900K
Name Holding Trade Value Shares
Change 		Change in
Stake
EWA
126
EverSource Wealth Advisors
Alabama
$889 -$501 -66 -37%
GI
127
GAMMA Investing
California
$737 -$835 -110 -54%
MAM
128
Marquette Asset Management
Minnesota
$545 +$516 +68 New
PA
129
Parallel Advisors
California
$537 -$410 -54 -45%
TWD
130
True Wealth Design
Ohio
$433 -$8 -1 -2%
EP
131
Essential Partners
California
$320 – – –
Optiver Holding
132
Optiver Holding
Netherlands
$240 – – –
CIAM
133
Caitong International Asset Management
Hong Kong
$152 -$19.1K -2,512 -99%
RIL
134
Rothschild Investment LLC
Illinois
$120 +$114 +15 New
LFG
135
Larson Financial Group
Missouri
$48 +$8 +1 +20%
FFA
136
Farther Finance Advisors
California
$32 -$6.5K -856 -100%
SS
137
SBI Securities
Japan
$24 – – –
AWAM
138
Appian Way Asset Management
New York
– -$11.5M -1,360,609 Closed
BIG
139
Brooklyn Investment Group
New York
– -$396K -55,244 Closed
SP
140
Saranac Partners
– -$254K -29,999 Closed
FRM
141
Fox Run Management
Connecticut
– -$198K -23,380 Closed
Connor, Clark & Lunn Investment Management (CC&L)
142
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
– -$180K -21,195 Closed
MCM
143
Moore Capital Management
New York
– -$170K -20,000 Closed
GAM
144
Gotham Asset Management
New York
– -$144K -16,935 Closed
State of Wisconsin Investment Board
145
State of Wisconsin Investment Board
Wisconsin
– -$118K -13,917 Closed
SA
146
Sanctuary Advisors
Indiana
– -$97.7K -11,526 Closed
FFP
147
FourThought Financial Partners
Florida
– -$95.4K -11,247 Closed
ASRS
148
Arizona State Retirement System
Arizona
– -$87.2K -10,279 Closed
CA
149
Clearstead Advisors
Ohio
– -$1.17K -138 Closed
QL
150
Quarry LP
New York
– -$1.17K -138 Closed
3 4 5
6
7

TH Hedge Fund Activity: Q4 2025 in Review

137 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Target Hospitality (TH) for Q4 2025, worth a combined $259M — down 1.7% from $264M a quarter earlier.

Buyers outnumbered sellers: 19 funds opened new TH positions and 16 closed out — a net gain of 3 holders — while 48 added to existing stakes and 44 trimmed.

The largest buyer was Philadelphia Financial Management of San Francisco, adding an estimated $6.12M. The largest seller was Shay Capital, cutting an estimated $2.64M.

  • 137 institutional investors held Target Hospitality (TH) as of Q4 2025, up from 134 in Q3 2025.
  • Funds reported $259M of Target Hospitality stock for Q4 2025, down 1.7% quarter-over-quarter.
  • 19 funds opened new Target Hospitality positions in Q4 2025 and 16 closed out, a net change of +3 holders.
  • The largest Target Hospitality buyer in Q4 2025 was Philadelphia Financial Management of San Francisco, an estimated $6.12M added.
  • The largest Target Hospitality seller in Q4 2025 was Shay Capital, an estimated $2.64M sold.

Based on aggregated 13F filings for Q4 2025.