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Targa Resources
TRGP

475 hedge funds and large institutions have $8.8B invested in Targa Resources in 2019 Q1 according to their latest regulatory filings, with 65 funds opening new positions, 179 increasing their positions, 153 reducing their positions, and 67 closing their positions.

New
Increased
Maintained
Reduced
Closed

17% more repeat investments, than reductions

Existing positions increased: 179 | Existing positions reduced: 153

14% more capital invested

Capital invested by funds: $7.74B → $8.8B (+$1.06B)

3% less first-time investments, than exits

New positions opened: 65 | Existing positions closed: 67

9% less call options, than puts

Call options by funds: $146M | Put options by funds: $161M

1% less funds holding

Funds holding: 480 → 475 (-5)

2.65% less ownership

Funds ownership: 94% → 91.34% (-2.7%)

21% less funds holding in top 10

Funds holding in top 10: 19 → 15 (-4)

Holders
475
Holders Change
-5
Holders Change %
-1.04%
% of All Funds
10.28%
Holding in Top 10
15
Holding in Top 10 Change
-4
Holding in Top 10 Change %
-21.05%
% of All Funds
0.32%
New
65
Increased
179
Reduced
153
Closed
67
Calls
$146M
Puts
$161M
Net Calls
-$14.9M
Net Calls Change
+$35.2M

Top Buyers

1
TCA
Tortoise Capital Advisors
Kansas
+$145M
2
CIBC Private Wealth Group
CIBC Private Wealth Group
Georgia
+$56.1M
3
OAC
OMERS Administration Corp
Ontario, Canada
+$46.5M
4
NIM
NXG Investment Management
Texas
+$39.1M
5
Millennium Management
Millennium Management
New York
+$36.4M

Top Sellers

1
BC
Brookfield Corp
Ontario, Canada
-$81.4M
2
CCM
Chickasaw Capital Management
Tennessee
-$54.3M
3
PC
PointState Capital
New York
-$51.9M
4
Deutsche Bank
Deutsche Bank
Germany
-$48.7M
5
ZP
Zimmer Partners
New York
-$46.7M
Name Holding Trade Value Shares
Change 		Change in
Stake
Vanguard Group
1
Vanguard Group
Pennsylvania
$887M +$913K +21,774 +0.1%
BlackRock
2
BlackRock
New York
$556M +$7.66M +182,798 +1%
TCA
3
Tortoise Capital Advisors
Kansas
$547M +$145M +3,454,138 +36%
HFA
4
Harvest Fund Advisors
Pennsylvania
$535M +$750K +17,879 +0.1%
Goldman Sachs
5
Goldman Sachs
New York
$435M +$930K +22,186 +0.2%
O
6
OppenheimerFunds
New York
$308M +$23.1M +549,984 +8%
KACA
7
Kayne Anderson Capital Advisors
California
$294M -$39M -930,470 -12%
State Street
8
State Street
Massachusetts
$222M +$22.5M +537,582 +11%
SCA
9
Salient Capital Advisors
Texas
$214M +$9.47M +225,744 +5%
CCM
10
Chickasaw Capital Management
Tennessee
$211M -$54.3M -1,295,065 -20%
Neuberger Berman Group
11
Neuberger Berman Group
New York
$209M +$35.6M +849,272 +20%
BC
12
Brookfield Corp
Ontario, Canada
$194M -$81.4M -1,942,251 -29%
Bank of New York Mellon
13
Bank of New York Mellon
New York
$189M -$17.7M -423,211 -9%
Bank of America
14
Bank of America
North Carolina
$159M -$13M -309,193 -7%
CIBC Private Wealth Group
15
CIBC Private Wealth Group
Georgia
$158M +$56.1M +1,338,009 +54%
NIM
16
NXG Investment Management
Texas
$144M +$39.1M +932,537 +37%
ClearBridge Investments
17
ClearBridge Investments
New York
$132M +$5.3M +126,347 +4%
Wellington Management Group
18
Wellington Management Group
Massachusetts
$124M +$3.62M +86,319 +3%
UBS Group
19
UBS Group
Switzerland
$120M +$16.8M +399,710 +16%
Dimensional Fund Advisors
20
Dimensional Fund Advisors
Texas
$107M +$1.77M +42,172 +2%
RA
21
RR Advisors
Texas
$107M +$2.56M +61,000 +2%
Geode Capital Management
22
Geode Capital Management
Massachusetts
$105M +$5.6M +133,557 +6%
AR
23
Advisory Research
Illinois
$100M -$22M -524,165 -18%
COPPSERS
24
Commonwealth of Pennsylvania Public School Employees Retirement System
Pennsylvania
$99.8M +$7.43M +177,108 +8%
Cohen & Steers
25
Cohen & Steers
New York
$95.1M +$12.6M +300,819 +15%
1
2 3 4 5

TRGP Hedge Fund Activity: Q1 2019 in Review

475 of the 4,620 institutional investors tracked by Wall St. Rank reported a position in Targa Resources (TRGP) for Q1 2019, worth a combined $8.8B — up 14% from $7.74B a quarter earlier.

Sellers outnumbered buyers: 67 funds closed out of TRGP and 65 opened new positions — a net loss of 2 holders — while 153 trimmed existing stakes and 179 added.

The largest buyer was Tortoise Capital Advisors, adding an estimated $145M. The largest seller was Brookfield Corp, cutting an estimated $81.4M.

  • 475 institutional investors held Targa Resources (TRGP) as of Q1 2019, down from 480 in Q4 2018.
  • Funds reported $8.8B of Targa Resources stock for Q1 2019, up 14% quarter-over-quarter.
  • 65 funds opened new Targa Resources positions in Q1 2019 and 67 closed out, a net change of -2 holders.
  • The largest Targa Resources buyer in Q1 2019 was Tortoise Capital Advisors, an estimated $145M added.
  • The largest Targa Resources seller in Q1 2019 was Brookfield Corp, an estimated $81.4M sold.

Based on aggregated 13F filings for Q1 2019.