TMC The Metals Company
201 hedge funds and large institutions have $299M invested in TMC The Metals Company in 2025 Q4 according to their latest regulatory filings, with 61 funds opening new positions, 47 increasing their positions, 51 reducing their positions, and 30 closing their positions.
247% more call options, than puts
Call options by funds: $131M | Put options by funds: $37.7M
103% more first-time investments, than exits
New positions opened: 61 | Existing positions closed: 30
21% more capital inflows, than outflows
Capital inflows: $80.4M | Capital outflows: $66.5M
16% more funds holding
Funds holding: 174 → 201 (+27)
0.14% more ownership
Funds ownership: 11.57% → 11.71% (+0.14%)
8% less repeat investments, than reductions
Existing positions increased: 47 | Existing positions reduced: 51
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Encompass Capital Advisors
New York
|
+$21.1M |
| 2 |
Jane Street
New York
|
+$18.8M |
| 3 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$6.14M |
| 4 |
Goldman Sachs
New York
|
+$3.34M |
| 5 |
Verition Fund Management
Greenwich,
Connecticut
|
+$3.13M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Sourcerock Group
Denver,
Colorado
|
-$16.1M |
| 2 |
Driehaus Capital Management
Chicago,
Illinois
|
-$12.7M |
| 3 |
Morgan Stanley
New York
|
-$6.6M |
| 4 |
BNP Paribas Financial Markets
Paris,
France
|
-$3.7M |
| 5 |
First Manhattan
New York
|
-$3.65M |
TMC Hedge Fund Activity: Q4 2025 in Review
201 of the 8,306 institutional investors tracked by Wall St. Rank reported a position in TMC The Metals Company (TMC) for Q4 2025, worth a combined $299M — down 0.3% from $300M a quarter earlier.
Buyers outnumbered sellers: 61 funds opened new TMC positions and 30 closed out — a net gain of 31 holders — while 47 added to existing stakes and 51 trimmed.
The largest buyer was Encompass Capital Advisors, opening a new position worth an estimated $21.1M. The largest seller was Sourcerock Group, exiting entirely with an estimated $16.1M sold.
- 201 institutional investors held TMC The Metals Company (TMC) as of Q4 2025, up from 174 in Q3 2025.
- Funds reported $299M of TMC The Metals Company stock for Q4 2025, down 0.3% quarter-over-quarter.
- 61 funds opened new TMC The Metals Company positions in Q4 2025 and 30 closed out, a net change of +31 holders.
- The largest TMC The Metals Company buyer in Q4 2025 was Encompass Capital Advisors, an estimated $21.1M added.
- The largest TMC The Metals Company seller in Q4 2025 was Sourcerock Group, an estimated $16.1M sold.
Based on aggregated 13F filings for Q4 2025.