TPG RE Finance Trust
TRTX
140 hedge funds and large institutions have $500M invested in TPG RE Finance Trust in 2025 Q3 according to their latest regulatory filings, with 20 funds opening new positions, 51 increasing their positions, 46 reducing their positions, and 18 closing their positions.
5,441% more call options, than puts
Call options by funds: $60.5M | Put options by funds: $1.09M
100% more funds holding in top 10
Funds holding in top 10: 3 → 6 (+3)
11% more first-time investments, than exits
New positions opened: 20 | Existing positions closed: 18
11% more repeat investments, than reductions
Existing positions increased: 51 | Existing positions reduced: 46
4% more capital invested
Capital invested by funds: $480M → $500M (+$20.7M)
1% more funds holding
Funds holding: 139 → 140 (+1)
3.43% less ownership
Funds ownership: 77.77% → 74.33% (-3.4%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SONJCPFA
State of New Jersey Common Pension Fund A
Trenton,
New Jersey
|
+$27.8M |
| 2 |
Goldman Sachs
New York
|
+$5.55M |
| 3 |
OWSCM
One William Street Capital Management
New York
|
+$3.71M |
| 4 |
DCM
Dimension Capital Management
Coral Gables,
Florida
|
+$1.94M |
| 5 |
Two Sigma Investments
New York
|
+$1.88M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TGA
TPG GP A
Fort Worth,
Texas
|
-$41.4M |
| 2 |
Morgan Stanley
New York
|
-$9.24M |
| 3 |
Balyasny Asset Management
Chicago,
Illinois
|
-$7.57M |
| 4 |
GC
Gratia Capital
Los Angeles,
California
|
-$4.46M |
| 5 |
LPC
Long Pond Capital
New York
|
-$3.57M |
TRTX Hedge Fund Activity: Q3 2025 in Review
140 of the 7,621 institutional investors tracked by Wall St. Rank reported a position in TPG RE Finance Trust (TRTX) for Q3 2025, worth a combined $500M — up 4.3% from $480M a quarter earlier.
Buyers outnumbered sellers: 20 funds opened new TRTX positions and 18 closed out — a net gain of 2 holders — while 51 added to existing stakes and 46 trimmed.
The largest buyer was State of New Jersey Common Pension Fund A, opening a new position worth an estimated $27.8M. The largest seller was TPG GP A, cutting an estimated $41.4M.
- 140 institutional investors held TPG RE Finance Trust (TRTX) as of Q3 2025, up from 139 in Q2 2025.
- Funds reported $500M of TPG RE Finance Trust stock for Q3 2025, up 4.3% quarter-over-quarter.
- 20 funds opened new TPG RE Finance Trust positions in Q3 2025 and 18 closed out, a net change of +2 holders.
- The largest TPG RE Finance Trust buyer in Q3 2025 was State of New Jersey Common Pension Fund A, an estimated $27.8M added.
- The largest TPG RE Finance Trust seller in Q3 2025 was TPG GP A, an estimated $41.4M sold.
Based on aggregated 13F filings for Q3 2025.