Vault-13

BLACKROCK TCP CAPITAL CORP TCPC

COM · Common Stock · CUSIP 09259E108

140 institutional holders +7 vs Q2 2025
20,871,65520.9m shares reported held*
24.6% of all shares outstanding*
$129.4mreported value*
26 new 34 added 34 reduced 18 sold out net bought ≈ $12.8m (+2.1m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Shares outstanding: 84.8m as of 2025-11-06, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $6.20. Options: 3 managers hold calls ($417.8k notional), 3 hold puts ($277.7k).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 125Q4 22: 126Q1 23: 117Q2 23: 112Q3 23: 118Q4 23: 124Q1 24: 146Q2 24: 142Q3 24: 147Q4 24: 151Q1 25: 144Q2 25: 133Q3 25: 140140Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 2022125
Q4 2022126
Q1 2023117
Q2 2023112
Q3 2023118
Q4 2023124
Q1 2024146
Q2 2024142
Q3 2024147
Q4 2024151
Q1 2025144
Q2 2025133
Q3 2025140

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1000100Q4 23: 62 bought or addedQ4 23: 49 cut or sold outQ1 24: 97 bought or addedQ1 24: 50 cut or sold outQ1 24Q2 24: 64 bought or addedQ2 24: 66 cut or sold outQ3 24: 64 bought or addedQ3 24: 69 cut or sold outQ3 24Q4 24: 57 bought or addedQ4 24: 66 cut or sold outQ1 25: 68 bought or addedQ1 25: 65 cut or sold outQ1 25Q2 25: 53 bought or addedQ2 25: 69 cut or sold outQ3 25: 60 bought or addedQ3 25: 52 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 20236249
Q1 20249750
Q2 20246466
Q3 20246469
Q4 20245766
Q1 20256865
Q2 20255369
Q3 20256052

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$200k$400k$600k$800kQ4 24 calls: $428.7kQ4 24 puts: $303.8kQ4 24P/C 0.71Q1 25 calls: $557.5kQ1 25 puts: $404.9kQ1 25P/C 0.73Q2 25 calls: $610.5kQ2 25 puts: $461.9kQ2 25P/C 0.76Q3 25 calls: $417.8kQ3 25 puts: $277.7kQ3 25P/C 0.66
Numbers
QuarterCallsPutsP/C
Q4 2024$428.7k$303.8k0.71
Q1 2025$557.5k$404.9k0.73
Q2 2025$610.5k$461.9k0.76
Q3 2025$417.8k$277.7k0.66

Biggest buyers

Next Capital Management LLC Added +1,266,590+1.3m
Invesco Ltd. Added +524,139+524.1k
North Ground Capital New +500,000+500.0k
TWO SIGMA INVESTMENTS, LP Added +162,651+162.7k
VAN ECK ASSOCIATES CORP Added +110,040+110.0k
Ethos Financial Group, LLC New +94,962+95.0k
Sunbelt Securities, Inc. Added +79,470+79.5k
LSV ASSET MANAGEMENT Added +68,330+68.3k
Janney Montgomery Scott LLC New +66,866+66.9k
Y-Intercept (Hong Kong) Ltd New +55,468+55.5k

Biggest sellers

MORGAN STANLEY Reduced -189,512-189.5k
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sold out -131,304-131.3k
TRANSCEND CAPITAL ADVISORS, LLC Reduced -107,741-107.7k
Redhawk Wealth Advisors, Inc. Sold out -106,720-106.7k
Hennion & Walsh Asset Management, Inc. Reduced -90,436-90.4k
CreativeOne Wealth, LLC Reduced -85,991-86.0k
Rockefeller Capital Management L.P. Reduced -73,621-73.6k
J.W. COLE ADVISORS, INC. Reduced -70,847-70.8k
BANK OF AMERICA CORP /DE/ Reduced -58,242-58.2k
STIFEL FINANCIAL CORP Reduced -53,667-53.7k

Biggest calls

GROUP ONE TRADING LLC Added $230.0k37.1k shares
CITADEL ADVISORS LLC Added $171.7k27.7k shares
SIMPLEX TRADING, LLC Reduced $16.0k2.6k shares

Biggest puts

WOLVERINE TRADING, LLC New $197.7k32.3k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $75.0k12.1k shares
SIMPLEX TRADING, LLC Reduced $5.0k900 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Insider purchases and sales in Q3 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

Officers and directors buying vs selling

Number of people, by quarter (10% owners not included)

BuyingSelling
404Q4 23: 0 buyingQ4 23: 0 sellingQ1 24: 1 buyingQ1 24: 0 sellingQ1 24Q2 24: 3 buyingQ2 24: 0 sellingQ3 24: 3 buyingQ3 24: 0 sellingQ3 24Q4 24: 2 buyingQ4 24: 0 sellingQ1 25: 4 buyingQ1 25: 0 sellingQ1 25Q2 25: 1 buyingQ2 25: 0 sellingQ3 25: 0 buyingQ3 25: 0 sellingQ3 25
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q4 20230—0——
Q1 20241$12.2k0——
Q2 20243$118.7k0——
Q3 20243$381.9k0——
Q4 20242$178.3k0——
Q1 20254$227.0k0——
Q2 20251$24.9k0——
Q3 20250—0——

None reported in Q3 2025.

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Next Capital Management LLC 4.97% of their portfolio NEW YORK, NY 2,401,4162.4m $14.9m $14.9m 4.97% Added +1.3m +1,266,590
2 VAN ECK ASSOCIATES CORP 0.01% of their portfolio NEW YORK, NY 2,288,7552.3m $14.2m $14.2m 0.01% Added +110.0k +110,040
3 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 1,947,3481.9m $12.1m $12.1m 0.00% Added +524.1k +524,139
4 UBS Group AG 0.00% of their portfolio ZURICH, V8 1,442,7641.4m $8.9m $8.9m 0.00% Reduced -32.3k -32,266
5 TRANSCEND CAPITAL ADVISORS, LLC 0.54% of their portfolio MADISON, NJ 1,225,9521.2m $7.6m $7.6m 0.54% Reduced -107.7k -107,741
6 TWO SIGMA ADVISERS, LP 0.01% of their portfolio NEW YORK, NY 992,802992.8k $6.2m $6.2m 0.01% Added +42.3k +42,285
7 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 874,972875.0k $5.4m $5.4m 0.01% Added +162.7k +162,651
8 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 517,524517.5k $3.2m $3.2m 0.00% Reduced -189.5k -189,512
9 Legal & General Group Plc 0.00% of their portfolio London, X0 512,689512.7k $3.2m $3.2m 0.00% Reduced -46.8k -46,790
10 BlackRock, Inc. 0.00% of their portfolio New York, NY 510,945510.9k $3.2m $3.2m 0.00% Added +4 +4
11 North Ground Capital 1.90% of their portfolio Cohasset, MA 500,000500.0k $3.1m $3.1m 1.90% New
12 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 498,251498.3k $3.1m $3.1m 0.00% Reduced -27.0k -27,015
13 BARINGS LLC 0.06% of their portfolio CHARLOTTE, NC 480,322480.3k $3.0m $3.0m 0.06% Reduced -17.3k -17,258
14 LSV ASSET MANAGEMENT 0.01% of their portfolio CHICAGO, IL 429,800429.8k $2.7m $2.7m 0.01% Added +68.3k +68,330
15 BI Asset Management Fondsmaeglerselskab A/S 0.02% of their portfolio KOBENHAVN, G7 417,991418.0k $2.6m $2.6m 0.02% Unchanged
16 D.A. DAVIDSON & CO. 0.02% of their portfolio GREAT FALLS, MT 415,209415.2k $2.6m $2.6m 0.02% Reduced -44.7k -44,672
17 GraniteShares Advisors LLC 1.26% of their portfolio NEW YORK, NY 350,722350.7k $2.2m $2.2m 1.26% Added +30.9k +30,889
18 Muzinich & Co., Inc. 0.68% of their portfolio NEW YORK, NY 282,537282.5k $1.8m $1.8m 0.68% Added +26.1k +26,148
19 Sumitomo Mitsui Trust Group, Inc. 0.00% of their portfolio CHIYODA-KU, TOKYO, M0 279,505279.5k $1.7m $1.7m 0.00% Added +26.1k +26,148
20 LOOMIS SAYLES & CO L P 0.00% of their portfolio BOSTON, MA 245,000245.0k $1.5m $1.5m 0.00% Unchanged
21 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 200,995201.0k $1.2m $1.2m 0.00% Reduced -12.0k -11,994
22 Hennion & Walsh Asset Management, Inc. 0.04% of their portfolio Parsippany, NJ 200,038200.0k $1.2m $1.2m 0.04% Reduced -90.4k -90,436
23 Virtus Investment Advisers, LLC 0.35% of their portfolio HARTFORD, CT 198,478198.5k $1.2m $1.2m 0.35% Added +33.5k +33,478
24 NEW ENGLAND ASSET MANAGEMENT INC 0.14% of their portfolio FARMINGTON, CT 170,034170.0k $1.1m $1.1m 0.14% Unchanged
25 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 167,627167.6k $1.0m $1.0m 0.00% Reduced -73.6k -73,621
26 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 165,480165.5k $1.0m $1.0m 0.00% Reduced -58.2k -58,242
27 United Advisor Group, LLC 0.12% of their portfolio CINCINNATI, OH 143,544143.5k $890.0k $890.0k 0.12% Added +1.8k +1,803
28 Privium Fund Management (UK) Ltd 0.52% of their portfolio LONDON, X0 136,210136.2k $833.6k $833.6k 0.52% Added +10.2k +10,233
29 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 115,854115.9k $718.3k $718.3k 0.00% Added +25.2k +25,179
30 CANADA LIFE ASSURANCE Co 0.00% of their portfolio WINNIPEG, A2 102,927102.9k $631.0k $631.0k 0.00% Added +16.6k +16,563
31 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 101,407101.4k $629.0k $629.0k 0.00% Added +35.4k +35,431
32 Ethos Financial Group, LLC 0.05% of their portfolio KING OF PRUSSIA, PA 94,96295.0k $588.8k $588.8k 0.05% New
33 Sunbelt Securities, Inc. 0.04% of their portfolio HOUSTON, TX 93,05093.0k $576.9k $576.9k 0.04% Added +79.5k +79,470
34 ROMANO BROTHERS AND COMPANY 0.06% of their portfolio EVANSTON, IL 87,64587.6k $543.4k $543.4k 0.06% Unchanged
35 NorthCoast Asset Management LLC 0.00% of their portfolio STAMFORD, CT 78,97979.0k $489.7k $489.7k 0.00% Reduced -41.1k -41,053
36 Aquatic Capital Management LLC 0.01% of their portfolio CHICAGO, IL 73,37573.4k $454.9k $454.9k 0.01% First filing
37 J.W. COLE ADVISORS, INC. 0.01% of their portfolio TAMPA, FL 71,20071.2k $441.4k $441.4k 0.01% Reduced -70.8k -70,847
38 Samalin Investment Counsel, LLC 0.15% of their portfolio CHAPPAQUA, NY 68,35768.4k $423.8k $423.8k 0.15% Added +2.7k +2,746
39 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 67,74567.7k $420.0k $420.0k 0.00% Reduced -404 -404
40 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 66,86666.9k $415.0k $415.0k 0.00% New
41 Arkadios Wealth Advisors 0.01% of their portfolio ATLANTA, GA 65,93165.9k $408.8k $408.8k 0.01% Added +261 +261
42 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 65,05565.1k $403.3k $403.3k 0.00% Added +6.7k +6,676
43 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 64,20764.2k $433.7k $433.7k 0.00% Added +286 +286
44 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 63,78263.8k $395.4k $395.4k 0.00% Reduced -2.5k -2,545
45 CAXTON ASSOCIATES LLP 0.01% of their portfolio LONDON, X0 60,77960.8k $376.8k $376.8k 0.01% Unchanged
46 Advisors Asset Management, Inc. 0.01% of their portfolio Monument, CO 58,49558.5k $362.7k $362.7k 0.01% Added +98 +98
47 Y-Intercept (Hong Kong) Ltd 0.01% of their portfolio HONG KONG, K3 55,46855.5k $343.9k $343.9k 0.01% New
48 Access Investment Management LLC 0.09% of their portfolio ATLANTA, GA 54,30054.3k $336.7k $336.7k 0.09% Unchanged
49 Universal- Beteiligungs- und Servicegesellschaft mbH 0.00% of their portfolio FRANKFURT AM MAIN, 2M 51,90051.9k $321.8k $321.8k 0.00% Unchanged
50 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 51,66851.7k $320.3k $320.3k 0.00% Reduced -7.9k -7,889
51 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 50,85050.9k $315.3k $315.3k 0.00% Reduced -14.0k -13,959
52 NATIONS FINANCIAL GROUP INC, /IA/ /ADV 0.02% of their portfolio CEDAR RAPIDS, IA 49,76849.8k $308.6k $308.6k 0.02% Reduced -1.0k -1,043
53 INDEPENDENT FINANCIAL GROUP, LLC 0.01% of their portfolio SAN DIEGO, CA 47,65847.7k $295.5k $295.5k 0.01% Added +384 +384
54 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 47,04547.0k $291.7k $291.7k 0.00% Added +26.6k +26,617
55 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 45,04545.0k $279.3k $279.3k 0.00% Reduced -20.3k -20,257
56 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 44,70844.7k $277.2k $277.2k 0.00% Reduced -12.1k -12,074
57 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 42,56542.6k $263.9k $263.9k 0.00% Added +12.8k +12,789
58 Curated Wealth Partners LLC 0.03% of their portfolio EL SEGUNDO, CA 38,58738.6k $239.2k $239.2k 0.03% Unchanged
59 Virtu Financial LLC 0.01% of their portfolio New York, NY 30,83130.8k $191.0k $191.0k 0.01% New
60 Mariner, LLC 0.00% of their portfolio Overland Park, KS 29,01929.0k $179.9k $179.9k 0.00% Reduced -573 -573
61 Lido Advisors, LLC 0.00% of their portfolio Los Angeles, CA 27,77527.8k $172.2k $172.2k 0.00% Unchanged
62 Verition Fund Management LLC 0.00% of their portfolio GREENWICH, CT 27,35327.4k $169.6k $169.6k 0.00% New
63 Triumph Capital Management 0.04% of their portfolio DENVER, CO 26,80426.8k $166.2k $166.2k 0.04% Reduced -4.0k -4,030
64 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 25,76425.8k $160.0k $160.0k 0.00% Reduced -625 -625
65 Merit Financial Group, LLC 0.00% of their portfolio ALPHARETTA, GA 25,59125.6k $158.7k $158.7k 0.00% Added +11.6k +11,649
66 Centiva Capital, LP 0.01% of their portfolio New York, NY 25,08625.1k $155.5k $155.5k 0.01% New
67 Brevan Howard Capital Management LP 0.00% of their portfolio ST. HELIER, Y9 24,55024.6k $152.2k $152.2k 0.00% New
68 M&T Bank Corp 0.00% of their portfolio BUFFALO, NY 24,12224.1k $149.6k $149.6k 0.00% Unchanged
69 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 23,41823.4k $145.2k $145.2k 0.00% Reduced -14.9k -14,894
70 Mallini Complete Financial Planning LLC 0.12% of their portfolio GAINESVILLE, FL 23,40523.4k $145.1k $145.1k 0.12% Added +507 +507
71 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 21,77721.8k $135.0k $135.0k 0.00% Reduced -53.7k -53,667
72 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 21,48921.5k $133.2k $133.2k 0.00% Added +109 +109
73 Permanens Capital L.P. 0.02% of their portfolio NEW YORK, NY 21,40621.4k $132.7k $132.7k 0.02% New
74 Ignite Planners, LLC 0.02% of their portfolio SAN CLEMENTE, CA 21,36921.4k $132.5k $132.5k 0.02% Reduced -9.4k -9,385
75 NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio NEW YORK, NY 21,20021.2k $131.4k $131.4k 0.00% Unchanged
76 Disciplined Investments, LLC 0.05% of their portfolio TULSA, OK 20,00020.0k $124.0k $124.0k 0.05% Unchanged
77 BARTLETT & CO. WEALTH MANAGEMENT LLC 0.00% of their portfolio CINCINNATI, OH 19,30019.3k $119.7k $119.7k 0.00% Reduced -700 -700
78 WOLVERINE TRADING, LLC 0.00% of their portfolio CHICAGO, IL 18,78018.8k $114.9k $114.9k 0.00% New
79 EIGHT 31 FINANCIAL, LLC 0.06% of their portfolio MIDLAND, TX 18,04718.0k $111.9k $111.9k 0.06% Added +801 +801
80 MQS Management LLC 0.06% of their portfolio NEW YORK, NY 16,92016.9k $104.9k $104.9k 0.06% New
81 Joel Isaacson & Co., LLC 0.00% of their portfolio NEW YORK, NY 16,71016.7k $103.6k $103.6k 0.00% Unchanged
82 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 16,68616.7k $103.5k $103.5k 0.00% Reduced -18.9k -18,894
83 Prospera Financial Services Inc 0.00% of their portfolio Dallas, TX 16,51716.5k $102.4k $102.4k 0.00% Added +1.6k +1,581
84 WealthTrust Axiom LLC 0.02% of their portfolio WAYNE, PA 14,97515.0k $92.8k $92.8k 0.02% Unchanged
85 Aigen Investment Management, LP 0.01% of their portfolio NEW YORK, NY 14,54214.5k $90.2k $90.2k 0.01% New
86 Quadrature Capital Ltd 0.00% of their portfolio LONDON, X0 14,46514.5k $89.5k $89.5k 0.00% New
87 MISSION WEALTH MANAGEMENT, LP 0.00% of their portfolio Santa Barbara, CA 14,45914.5k $89.6k $89.6k 0.00% Reduced -400 -400
88 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 14,35114.4k $89.0k $89.0k 0.00% New
89 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 13,96214.0k $86.6k $86.6k 0.00% New
90 OPPENHEIMER & CO INC 0.00% of their portfolio NEW YORK, NY 13,50013.5k $83.7k $83.7k 0.00% Reduced -400 -400
91 Compound Planning, Inc. 0.00% of their portfolio NEW YORK, NY 13,15113.2k $81.5k $81.5k 0.00% Unchanged
92 Spire Wealth Management 0.00% of their portfolio MCLEAN, VA 12,65612.7k $78.5k $78.5k 0.00% New
93 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 12,53412.5k $77.7k $77.7k 0.00% Reduced -1.0k -1,029
94 Midwest Trust Co 0.00% of their portfolio Overland Park, KS 12,50012.5k $77.5k $77.5k 0.00% Unchanged
95 Accel Wealth Management 0.02% of their portfolio WAVERLY, IA 12,00012.0k $74.4k $74.4k 0.02% Unchanged
96 Bogart Wealth, LLC 0.00% of their portfolio MCLEAN, VA 11,81211.8k $73.2k $73.2k 0.00% Unchanged
97 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 11,65611.7k $68.1k $68.1k 0.00% Unchanged
98 Significant Wealth Partners LLC 0.03% of their portfolio CARY, IL 11,53111.5k $71.5k $71.5k 0.03% New
99 JOURNEY STRATEGIC WEALTH LLC 0.00% of their portfolio SUMMIT, NJ 10,82610.8k $67.1k $67.1k 0.00% Unchanged
100 INSIGNEO ADVISORY SERVICES, LLC 0.00% of their portfolio MIAMI, FL 10,73410.7k $66.6k $66.6k 0.00% Reduced -1.3k -1,321