Vault-13

BLACKROCK TCP CAPITAL CORP TCPC

COM · Common Stock · CUSIP 09259E108

128 institutional holders -12 vs Q3 2025
20,742,34220.7m shares reported held*
24.4% of all shares outstanding*
$113.5mreported value*
22 new 28 added 45 reduced 35 sold out net sold ≈ $770.7k (-140.8k 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 ($538.8k this quarter). 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 ≈ $5.47. Options: 2 managers hold calls ($114.3k notional), 3 hold puts ($91.9k).

Trends to Q4 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: 140Q4 25: 128128Q3 22Q2 23Q1 24Q4 24Q4 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
Q4 2025128

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q1 24: 97 bought or addedQ1 24: 50 cut or sold outQ2 24: 64 bought or addedQ2 24: 66 cut or sold outQ2 24Q3 24: 64 bought or addedQ3 24: 69 cut or sold outQ4 24: 57 bought or addedQ4 24: 66 cut or sold outQ4 24Q1 25: 68 bought or addedQ1 25: 65 cut or sold outQ2 25: 53 bought or addedQ2 25: 69 cut or sold outQ2 25Q3 25: 60 bought or addedQ3 25: 52 cut or sold outQ4 25: 50 bought or addedQ4 25: 80 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20249750
Q2 20246466
Q3 20246469
Q4 20245766
Q1 20256865
Q2 20255369
Q3 20256052
Q4 20255080

Calls vs puts

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

CallsPuts
$0$200k$400k$600k$800kQ1 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 0.66Q4 25 calls: $114.3kQ4 25 puts: $91.9kQ4 25P/C 0.80
Numbers
QuarterCallsPutsP/C
Q1 2025$557.5k$404.9k0.73
Q2 2025$610.5k$461.9k0.76
Q3 2025$417.8k$277.7k0.66
Q4 2025$114.3k$91.9k0.80

Biggest buyers

Invesco Ltd. Added +428,201+428.2k
North Ground Capital Added +287,946+287.9k
Next Capital Management LLC Added +282,123+282.1k
MORGAN STANLEY Added +267,184+267.2k
TWO SIGMA INVESTMENTS, LP Added +253,252+253.3k
UBS Group AG Added +128,687+128.7k
BlackRock, Inc. Added +94,715+94.7k
Legal & General Group Plc Added +93,627+93.6k
Curi Capital, LLC New +85,000+85.0k
Almitas Capital LLC New +85,000+85.0k

Biggest sellers

MARSHALL WACE, LLP Reduced -477,818-477.8k
GraniteShares Advisors LLC Sold out -350,722-350.7k
D.A. DAVIDSON & CO. Reduced -226,937-226.9k
VAN ECK ASSOCIATES CORP Reduced -176,896-176.9k
NEW ENGLAND ASSET MANAGEMENT INC Sold out -170,034-170.0k
Rockefeller Capital Management L.P. Reduced -166,085-166.1k
Privium Fund Management (UK) Ltd Sold out -136,210-136.2k
Hennion & Walsh Asset Management, Inc. Reduced -101,536-101.5k
NorthCoast Asset Management LLC Sold out -78,979-79.0k
BANK OF AMERICA CORP /DE/ Reduced -73,591-73.6k

Biggest calls

CITADEL ADVISORS LLC Reduced $64.5k11.8k shares
GROUP ONE TRADING LLC Reduced $49.8k9.1k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $89.7k16.4k shares
GROUP ONE TRADING LLC New $1.6k300 shares
SIMPLEX TRADING, LLC Reduced $547100 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 Q4 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
404Q1 24: 1 buyingQ1 24: 0 sellingQ2 24: 3 buyingQ2 24: 0 sellingQ2 24Q3 24: 3 buyingQ3 24: 0 sellingQ4 24: 2 buyingQ4 24: 0 sellingQ4 24Q1 25: 4 buyingQ1 25: 0 sellingQ2 25: 1 buyingQ2 25: 0 sellingQ2 25Q3 25: 0 buyingQ3 25: 0 sellingQ4 25: 0 buyingQ4 25: 0 sellingQ4 25
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
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——
Q4 20250—0——

None reported in Q4 2025.

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Next Capital Management LLC 4.70% of their portfolio NEW YORK, NY 2,683,5392.7m $14.7m $14.7m 4.70% Added +282.1k +282,123
2 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 2,375,5492.4m $13.0m $13.0m 0.00% Added +428.2k +428,201
3 VAN ECK ASSOCIATES CORP 0.01% of their portfolio NEW YORK, NY 2,111,8592.1m $11.6m $11.6m 0.01% Reduced -176.9k -176,896
4 UBS Group AG 0.00% of their portfolio ZURICH, V8 1,571,4511.6m $8.6m $8.6m 0.00% Added +128.7k +128,687
5 TRANSCEND CAPITAL ADVISORS, LLC 0.50% of their portfolio MADISON, NJ 1,175,0981.2m $6.4m $6.4m 0.50% Reduced -50.9k -50,854
6 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 1,128,2241.1m $6.2m $6.2m 0.01% Added +253.3k +253,252
7 TWO SIGMA ADVISERS, LP 0.01% of their portfolio NEW YORK, NY 959,602959.6k $5.2m $5.2m 0.01% Reduced -33.2k -33,200
8 North Ground Capital 2.14% of their portfolio Cohasset, MA 787,946787.9k $4.3m $4.3m 2.14% Added +287.9k +287,946
9 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 784,708784.7k $4.3m $4.3m 0.00% Added +267.2k +267,184
10 Legal & General Group Plc 0.00% of their portfolio London, X0 606,316606.3k $3.3m $3.3m 0.00% Added +93.6k +93,627
11 BlackRock, Inc. 0.00% of their portfolio New York, NY 605,660605.7k $3.3m $3.3m 0.00% Added +94.7k +94,715
12 BARINGS LLC 0.05% of their portfolio CHARLOTTE, NC 540,615540.6k $3.0m $3.0m 0.05% Added +60.3k +60,293
13 BI Asset Management Fondsmaeglerselskab A/S 0.02% of their portfolio KOBENHAVN, G7 452,874452.9k $2.5m $2.5m 0.02% Added +34.9k +34,883
14 LSV ASSET MANAGEMENT 0.00% of their portfolio CHICAGO, IL 410,100410.1k $2.2m $2.2m 0.00% Reduced -19.7k -19,700
15 Sumitomo Mitsui Trust Group, Inc. 0.00% of their portfolio CHIYODA-KU, TOKYO, M0 279,505279.5k $1.5m $1.5m 0.00% Unchanged
16 Muzinich & Co., Inc. 0.48% of their portfolio NEW YORK, NY 279,505279.5k $1.5m $1.5m 0.48% Reduced -3.0k -3,032
17 LOOMIS SAYLES & CO L P 0.00% of their portfolio BOSTON, MA 245,000245.0k $1.3m $1.3m 0.00% Unchanged
18 Virtus Investment Advisers, LLC 0.32% of their portfolio HARTFORD, CT 212,334212.3k $1.2m $1.2m 0.32% Added +13.9k +13,856
19 D.A. DAVIDSON & CO. 0.01% of their portfolio GREAT FALLS, MT 188,272188.3k $1.0m $1.0m 0.01% Reduced -226.9k -226,937
20 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 175,590175.6k $960.5k $960.5k 0.00% Reduced -25.4k -25,405
21 Closed-End Fund Advisors, Inc. 0.42% of their portfolio RICHMOND, VA 128,517128.5k $703.0k $703.0k 0.42% First filing
22 CANADA LIFE ASSURANCE Co 0.00% of their portfolio WINNIPEG, A2 105,870105.9k $577.0k $577.0k 0.00% Added +2.9k +2,943
23 Hennion & Walsh Asset Management, Inc. 0.02% of their portfolio Parsippany, NJ 98,50298.5k $538.8k $538.8k 0.02% Reduced -101.5k -101,536
24 United Advisor Group, LLC 0.07% of their portfolio CINCINNATI, OH 94,91894.9k $519.2k $519.2k 0.07% Reduced -48.6k -48,626
25 Sunbelt Securities, Inc. 0.03% of their portfolio HOUSTON, TX 92,60592.6k $506.5k $506.5k 0.03% Reduced -445 -445
26 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 91,88991.9k $502.6k $502.6k 0.00% Reduced -73.6k -73,591
27 Ethos Financial Group, LLC 0.04% of their portfolio KING OF PRUSSIA, PA 90,52190.5k $495.1k $495.1k 0.04% Reduced -4.4k -4,441
28 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 87,15787.2k $476.7k $476.7k 0.00% Added +40.1k +40,112
29 Curi Capital, LLC 0.01% of their portfolio CHICAGO, IL 85,00085.0k $464.9k $464.9k 0.01% New
30 Almitas Capital LLC 0.10% of their portfolio SANTA MONICA, CA 85,00085.0k $464.9k $464.9k 0.10% New
31 Quadrature Capital Ltd 0.00% of their portfolio LONDON, X0 84,67984.7k $463.2k $463.2k 0.00% Added +70.2k +70,214
32 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 83,07983.1k $454.4k $454.4k 0.00% Reduced -32.8k -32,775
33 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 81,14881.1k $443.9k $443.9k 0.00% Added +66.8k +66,797
34 Quantbot Technologies LP 0.01% of their portfolio NEW YORK, NY 77,87377.9k $426.0k $426.0k 0.01% Added +74.7k +74,729
35 XTX Topco Ltd 0.01% of their portfolio LONDON, X0 77,65077.7k $424.7k $424.7k 0.01% New
36 Gotham Asset Management, LLC 0.00% of their portfolio NEW YORK, NY 71,22871.2k $389.6k $389.6k 0.00% New
37 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 68,47468.5k $374.6k $374.6k 0.00% Added +729 +729
38 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 66,83466.8k $365.6k $365.6k 0.00% Added +15.2k +15,166
39 ROMANO BROTHERS AND COMPANY 0.04% of their portfolio EVANSTON, IL 65,64565.6k $359.1k $359.1k 0.04% Reduced -22.0k -22,000
40 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 61,22961.2k $334.9k $334.9k 0.00% Reduced -2.6k -2,553
41 CAXTON ASSOCIATES LLP 0.01% of their portfolio LONDON, X0 60,77960.8k $332.5k $332.5k 0.01% Unchanged
42 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 60,43660.4k $331.0k $331.0k 0.00% Reduced -6.4k -6,430
43 PharVision Advisers, LLC 0.16% of their portfolio BOCA RATON, FL 59,17759.2k $323.7k $323.7k 0.16% New
44 Arkadios Wealth Advisors 0.01% of their portfolio ATLANTA, GA 58,69958.7k $321.1k $321.1k 0.01% Reduced -7.2k -7,232
45 Aquatic Capital Management LLC 0.01% of their portfolio CHICAGO, IL 58,00558.0k $317.3k $317.3k 0.01% Reduced -15.4k -15,370
46 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 56,87156.9k $311.1k $311.1k 0.00% Reduced -7.3k -7,336
47 Access Investment Management LLC 0.09% of their portfolio ATLANTA, GA 54,30054.3k $336.7k $336.7k 0.09% Unchanged
48 Universal- Beteiligungs- und Servicegesellschaft mbH 0.00% of their portfolio FRANKFURT AM MAIN, 2M 51,90051.9k $283.9k $283.9k 0.00% Unchanged
49 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 50,84250.8k $278.1k $278.1k 0.00% Added +5.8k +5,797
50 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 49,93049.9k $273.1k $273.1k 0.00% Reduced -15.1k -15,125
51 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 49,39349.4k $270.2k $270.2k 0.00% Reduced -1.5k -1,457
52 INDEPENDENT FINANCIAL GROUP, LLC 0.01% of their portfolio SAN DIEGO, CA 47,65847.7k $260.7k $260.7k 0.01% Unchanged
53 Virtu Financial LLC 0.01% of their portfolio New York, NY 46,22946.2k $253.0k $253.0k 0.01% Added +15.4k +15,398
54 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 41,08741.1k $224.7k $224.7k 0.00% Reduced -3.6k -3,621
55 Curated Wealth Partners LLC 0.02% of their portfolio EL SEGUNDO, CA 38,58738.6k $211.1k $211.1k 0.02% Unchanged
56 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 37,59037.6k $205.6k $205.6k 0.00% Reduced -5.0k -4,975
57 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 30,41130.4k $166.0k $166.0k 0.00% Reduced -71.0k -70,996
58 Jump Financial, LLC 0.00% of their portfolio Chicago, IL 28,46928.5k $155.7k $155.7k 0.00% New
59 Lido Advisors, LLC 0.00% of their portfolio Los Angeles, CA 28,01528.0k $173.5k $173.5k 0.00% Added +240 +240
60 Compound Planning, Inc. 0.00% of their portfolio NEW YORK, NY 27,99228.0k $153.1k $153.1k 0.00% Added +14.8k +14,841
61 Dynamic Technology Lab Private Ltd 0.03% of their portfolio SINGAPORE, U0 26,40626.4k $144.0k $144.0k 0.03% New
62 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 25,44125.4k $139.2k $139.2k 0.00% Added +23.4k +23,450
63 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 24,43524.4k $133.7k $133.7k 0.00% New
64 M&T Bank Corp 0.00% of their portfolio BUFFALO, NY 24,12224.1k $131.9k $131.9k 0.00% Unchanged
65 Mallini Complete Financial Planning LLC 0.11% of their portfolio GAINESVILLE, FL 24,00324.0k $131.3k $131.3k 0.11% Added +598 +598
66 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 23,77923.8k $130.0k $130.0k 0.00% Reduced -2.0k -1,985
67 Permanens Capital L.P. 0.02% of their portfolio NEW YORK, NY 21,40621.4k $117.1k $117.1k 0.02% Unchanged
68 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 20,43320.4k $111.8k $111.8k 0.00% Reduced -477.8k -477,818
69 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 20,37620.4k $111.5k $111.5k 0.00% Reduced -1.1k -1,113
70 BARTLETT & CO. WEALTH MANAGEMENT LLC 0.00% of their portfolio CINCINNATI, OH 19,30019.3k $105.6k $105.6k 0.00% Unchanged
71 Sowell Financial Services LLC 0.00% of their portfolio NORTH LITTLE ROCK, AR 19,14719.1k $104.7k $104.7k 0.00% New
72 EIGHT 31 FINANCIAL, LLC 0.06% of their portfolio MIDLAND, TX 18,88818.9k $103.3k $103.3k 0.06% Added +841 +841
73 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 18,61418.6k $101.8k $101.8k 0.00% Reduced -3.2k -3,163
74 Joel Isaacson & Co., LLC 0.00% of their portfolio NEW YORK, NY 16,71016.7k $91.4k $91.4k 0.00% Unchanged
75 StoneX Group Inc. 0.00% of their portfolio NEW YORK, NY 15,85215.9k $86.7k $86.7k 0.00% New
76 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 15,47115.5k $84.6k $84.6k 0.00% Added +1.5k +1,509
77 Ignite Planners, LLC 0.01% of their portfolio SAN CLEMENTE, CA 15,02615.0k $77.8k $77.8k 0.01% Reduced -6.3k -6,343
78 WealthTrust Axiom LLC 0.02% of their portfolio WAYNE, PA 14,97515.0k $81.9k $81.9k 0.02% Unchanged
79 Prospera Financial Services Inc 0.00% of their portfolio Dallas, TX 14,78614.8k $80.9k $80.9k 0.00% Reduced -1.7k -1,731
80 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 14,74614.7k $80.7k $80.7k 0.00% Added +14.7k +14,715
81 MISSION WEALTH MANAGEMENT, LP 0.00% of their portfolio Santa Barbara, CA 14,40014.4k $78.8k $78.8k 0.00% Reduced -59 -59
82 EQUITABLE TRUST CO 0.00% of their portfolio NASHVILLE, TN 13,75613.8k $75.2k $75.2k 0.00% New
83 BOOTHBAY FUND MANAGEMENT, LLC 0.00% of their portfolio NEW YORK, NY 13,70713.7k $75.0k $75.0k 0.00% New
84 Merit Financial Group, LLC 0.00% of their portfolio ALPHARETTA, GA 13,50713.5k $73.9k $73.9k 0.00% Reduced -12.1k -12,084
85 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 13,40413.4k $73.3k $73.3k 0.00% New
86 Mariner, LLC 0.00% of their portfolio Overland Park, KS 13,11913.1k $71.8k $71.8k 0.00% Reduced -15.9k -15,900
87 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 12,84612.8k $70.3k $70.3k 0.00% New
88 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 12,15612.2k $66.5k $66.5k 0.00% Reduced -378 -378
89 Accel Wealth Management 0.02% of their portfolio WAVERLY, IA 12,00012.0k $65.6k $65.6k 0.02% Unchanged
90 Bogart Wealth, LLC 0.00% of their portfolio MCLEAN, VA 11,81211.8k $64.6k $64.6k 0.00% Unchanged
91 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 11,25411.3k $61.6k $61.6k 0.00% New
92 JOURNEY STRATEGIC WEALTH LLC 0.00% of their portfolio SUMMIT, NJ 10,82610.8k $59.2k $59.2k 0.00% Unchanged
93 Blue Trust, Inc. 0.00% of their portfolio BRENTWOOD, TN 10,75210.8k $58.8k $58.8k 0.00% New
94 Aigen Investment Management, LP 0.01% of their portfolio NEW YORK, NY 10,61710.6k $58.1k $58.1k 0.01% Reduced -3.9k -3,925
95 MTM Investment Management, LLC 0.01% of their portfolio SPARTANBURG, SC 5,9766.0k $32.7k $32.7k 0.01% Unchanged
96 VSM Wealth Advisory, LLC 0.01% of their portfolio HUNT VALLEY, MD 5,7805.8k $31.6k $31.6k 0.01% Reduced -2.1k -2,085
97 Spire Wealth Management 0.00% of their portfolio MCLEAN, VA 5,1885.2k $28.4k $28.4k 0.00% Reduced -7.5k -7,468
98 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 5,0725.1k $27.7k $27.7k 0.00% New
99 Sound Income Strategies, LLC 0.00% of their portfolio FT LAUDERDALE, FL 5,0725.1k $29.4k $29.4k 0.00% Added +3.3k +3,315
100 Quarry LP 0.00% of their portfolio NEW YORK, NY 4,3614.4k $23.9k $23.9k 0.00% New