Vault-13

TPG RE FIN TR INC TRTX

COM · REIT · CUSIP 87266M107

154 institutional holders -3 vs Q1 2026
58,369,82358.4m shares reported held*
76.0% of all shares outstanding*
$488.9mreported value*
15 new 66 added 40 reduced 16 sold out net bought ≈ $2.9m (+364.0k 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 ($175.8k this quarter). Holder counts are more reliable. Shares outstanding: 76.8m as of 2026-07-24, 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 ≈ $8.38. Options: 7 managers hold calls ($29.3m notional), 1 hold puts ($10.9k).

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 132Q4 22: 116Q1 23: 110Q2 23: 112Q3 23: 120Q4 23: 117Q1 24: 125Q2 24: 134Q3 24: 151Q4 24: 155Q1 25: 149Q2 25: 140Q3 25: 140Q4 25: 154Q1 26: 157Q2 26: 154154Q3 22Q3 23Q3 24Q3 25Q2 26
Numbers
QuarterHolders
Q3 2022132
Q4 2022116
Q1 2023110
Q2 2023112
Q3 2023120
Q4 2023117
Q1 2024125
Q2 2024134
Q3 2024151
Q4 2024155
Q1 2025149
Q2 2025140
Q3 2025140
Q4 2025154
Q1 2026157
Q2 2026154

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q3 24: 86 bought or addedQ3 24: 48 cut or sold outQ4 24: 84 bought or addedQ4 24: 60 cut or sold outQ4 24Q1 25: 62 bought or addedQ1 25: 81 cut or sold outQ2 25: 75 bought or addedQ2 25: 65 cut or sold outQ2 25Q3 25: 71 bought or addedQ3 25: 63 cut or sold outQ4 25: 82 bought or addedQ4 25: 54 cut or sold outQ4 25Q1 26: 67 bought or addedQ1 26: 85 cut or sold outQ2 26: 81 bought or addedQ2 26: 56 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 20248648
Q4 20248460
Q1 20256281
Q2 20257565
Q3 20257163
Q4 20258254
Q1 20266785
Q2 20268156

Calls vs puts

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

CallsPuts
$0$20m$40m$60m$80mQ3 25 calls: $60.5mQ3 25 puts: $2.2mQ3 25P/C 0.04Q4 25 calls: $41.6mQ4 25 puts: $2.2mQ4 25P/C 0.05Q1 26 calls: $54.4mQ1 26 puts: $10.2kQ1 26P/C 0.00Q2 26 calls: $29.3mQ2 26 puts: $10.9kQ2 26P/C 0.00
Numbers
QuarterCallsPutsP/C
Q3 2025$60.5m$2.2m0.04
Q4 2025$41.6m$2.2m0.05
Q1 2026$54.4m$10.2k0.00
Q2 2026$29.3m$10.9k0.00

Biggest buyers

Balyasny Asset Management L.P. New +632,035+632.0k
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Added +338,899+338.9k
GOLDMAN SACHS GROUP INC Added +315,085+315.1k
FJ Capital Management LLC New +249,738+249.7k
BlackRock, Inc. Added +226,588+226.6k
JPMORGAN CHASE & CO Added +224,716+224.7k
MORGAN STANLEY Added +219,163+219.2k
JUPITER ASSET MANAGEMENT LTD New +166,089+166.1k
BARCLAYS PLC Added +144,123+144.1k
FMR LLC Added +141,690+141.7k

Biggest sellers

Nan Shan Life Insurance Co., Ltd. Sold out -711,605-711.6k
GRATIA CAPITAL, LLC Reduced -634,416-634.4k
MILLENNIUM MANAGEMENT LLC Reduced -529,552-529.6k
TWO SIGMA INVESTMENTS, LP Reduced -416,874-416.9k
Qube Research & Technologies Ltd Reduced -329,099-329.1k
CITADEL ADVISORS LLC Sold out -251,870-251.9k
Solel Partners LP Reduced -190,736-190.7k
Ascentis Independent Advisors Sold out -96,974-97.0k
CHARLES SCHWAB INVESTMENT MANAGEMENT INC Reduced -72,737-72.7k
STATE STREET CORP Reduced -60,949-60.9k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $9.4m1.1m shares
HRT FINANCIAL LP Reduced $7.5m900.0k shares
Caption Management, LLC Reduced $6.7m800.0k shares
WELLS FARGO & COMPANY/MN Reduced $4.2m500.0k shares
CITADEL ADVISORS LLC Added $578.4k69.1k shares
GROUP ONE TRADING LLC Reduced $472.1k56.4k shares
IMC-Chicago, LLC Reduced $438.6k52.4k shares

Biggest puts

GROUP ONE TRADING LLC Unchanged $10.9k1.3k 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.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
Long Pond Capital, LP 13G · institution new · filed 2025-02-13 9.0% new 7.3m≈ $61.1m 2025-02-13
BlackRock, Inc. 13G · institution +1.2 pts · filed 2026-07-30 7.7% +1.2 pts 6.0m≈ $49.8m 2026-07-30
VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-07-31 5.1% new 3.9m≈ $32.9m 2026-07-31

Fell to 5% or below in the last year: GRATIA CAPITAL, LLC (3.7%, 2026-04-21), VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC), TPG GP A, LLC (3.2%, 2025-11-14)

Insider purchases and sales since 1 Apr 2026

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.

None reported since 1 Apr 2026.

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Long Pond Capital, LP 6.17% of their portfolio New York, NY 7,029,1027.0m $58.8m $58.8m 6.17% Unchanged
2 BlackRock, Inc. 0.00% of their portfolio New York, NY 6,497,6886.5m $54.4m $54.4m 0.00% Added +226.6k +226,588
3 VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio MALVERN, PA 3,352,8353.4m $28.1m $28.1m 0.00% Added +129.8k +129,803
4 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.03% of their portfolio CAUSEWAY BAY, K3 3,286,9603.3m $27.5m $27.5m 0.03% Added +105.7k +105,664
5 State of New Jersey Common Pension Fund A 11.80% of their portfolio Trenton, NJ 3,149,1483.1m $26.4m $26.4m 11.80% Unchanged
6 TPG GP A, LLC 0.40% of their portfolio FORT WORTH, TX 2,392,8632.4m $20.0m $20.0m 0.40% Unchanged
7 GRATIA CAPITAL, LLC 19.88% of their portfolio LOS ANGELES, CA 2,067,3332.1m $17.3m $17.3m 19.88% Reduced -634.4k -634,416
8 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 1,955,2682.0m $16.4m $16.4m 0.00% Added +112.0k +111,965
9 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 1,836,4901.8m $15.8m $15.8m 0.00% Reduced -60.9k -60,949
10 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 1,516,2701.5m $12.7m $12.7m 0.00% Added +315.1k +315,085
11 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 1,458,2551.5m $12.2m $12.2m 0.01% Reduced -416.9k -416,874
12 Qube Research & Technologies Ltd 0.01% of their portfolio LONDON, X0 1,284,3881.3m $10.8m $10.8m 0.01% Reduced -329.1k -329,099
13 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio BOSTON, MA 1,268,4651.3m $10.6m $10.6m 0.00% Added +338.9k +338,899
14 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 1,194,1111.2m $10.0m $10.0m 0.00% Added +3.3k +3,326
15 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,186,0181.2m $9.9m $9.9m 0.00% Added +219.2k +219,163
16 One William Street Capital Management, L.P. 21.17% of their portfolio New York, NY 1,070,0001.1m $9.0m $9.0m 21.17% Unchanged
17 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 1,062,1151.1m $8.9m $8.9m 0.00% Reduced -72.7k -72,737
18 FMR LLC 0.00% of their portfolio BOSTON, MA 861,520861.5k $7.2m $7.2m 0.00% Added +141.7k +141,690
19 VAN ECK ASSOCIATES CORP 0.00% of their portfolio NEW YORK, NY 816,098816.1k $6.8m $6.8m 0.00% Added +69.5k +69,463
20 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 746,004746.0k $6.2m $6.2m 0.00% Added +74.0k +73,976
21 DIMENSION CAPITAL MANAGEMENT LLC 0.71% of their portfolio Coral Gables, FL 724,317724.3k $6.1m $6.1m 0.71% Added +3.7k +3,720
22 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 712,440712.4k $6.0m $6.0m 0.00% Reduced -1.2k -1,180
23 UBS Group AG 0.00% of their portfolio ZURICH, V8 684,218684.2k $5.7m $5.7m 0.00% Added +88.6k +88,582
24 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 680,786680.8k $5.8m $5.8m 0.00% Added +224.7k +224,716
25 Balyasny Asset Management L.P. 0.01% of their portfolio Chicago, IL 632,035632.0k $5.3m $5.3m 0.01% New
26 CONDOR CAPITAL MANAGEMENT 0.39% of their portfolio MARTINSVILLE, NJ 624,405624.4k $5.2m $5.2m 0.39% Reduced -6.8k -6,796
27 VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio MALVERN, PA 590,988591.0k $4.9m $4.9m 0.00% Added +59.7k +59,722
28 Q Global Advisors, LLC 3.35% of their portfolio FORT WORTH, TX 589,903589.9k $4.9m $4.9m 3.35% Unchanged
29 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 576,708576.7k $4.8m $4.8m 0.00% Added +63.6k +63,565
30 VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio MALVERN, PA 503,056503.1k $4.2m $4.2m 0.00% Reduced -2.1k -2,066
31 Focus Partners Wealth 0.00% of their portfolio ST LOUIS, MO 467,885467.9k $3.9m $3.9m 0.00% Reduced -6.7k -6,725
32 Cercano Management LLC 0.45% of their portfolio BELLEVUE, WA 401,607401.6k $3.4m $3.4m 0.45% Unchanged
33 Almitas Capital LLC 0.73% of their portfolio SANTA MONICA, CA 362,684362.7k $3.0m $3.0m 0.73% Added +34.9k +34,852
34 Solel Partners LP 0.50% of their portfolio BOSTON, MA 349,838349.8k $2.9m $2.9m 0.50% Reduced -190.7k -190,736
35 Nokomis Capital, L.L.C. 0.96% of their portfolio DALLAS, TX 312,898312.9k $2.6m $2.6m 0.96% Unchanged
36 NORGES BANK 0.00% of their portfolio OSLO, Q8 288,800288.8k $2.4m $2.4m 0.00% Not comparable
37 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 286,670286.7k $2.2m $2.2m 0.00% Added +13.4k +13,400
38 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 270,651270.7k $2.3m $2.3m 0.00% Added +11.8k +11,789
39 FJ Capital Management LLC 0.27% of their portfolio MCLEAN, VA 249,738249.7k $2.1m $2.1m 0.27% New
40 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 219,245219.2k $1.8m $1.8m 0.00% Added +144.1k +144,123
41 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 211,233211.2k $1.8m $1.8m 0.00% Added +13.0k +12,972
42 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 184,234184.2k $1.5m $1.5m 0.00% Added +90.2k +90,188
43 Bracebridge Capital, LLC 0.33% of their portfolio BOSTON, MA 182,157182.2k $1.5m $1.5m 0.33% Unchanged
44 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 180,941180.9k $1.5m $1.5m 0.00% Added +390 +390
45 JUPITER ASSET MANAGEMENT LTD 0.01% of their portfolio London, X0 166,089166.1k $1.4m $1.4m 0.01% New
46 Penserra Capital Management LLC 0.01% of their portfolio ORINDA, CA 148,058148.1k $1.2m $1.2m 0.01% Added +14.5k +14,529
47 XTX Topco Ltd 0.02% of their portfolio LONDON, X0 143,371143.4k $1.2m $1.2m 0.02% Added +48.5k +48,524
48 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 142,509142.5k $1.2m $1.2m 0.00% Unchanged
49 Swiss National Bank 0.00% of their portfolio ZURICH, V8 141,500141.5k $1.2m $1.2m 0.00% Added +1.9k +1,900
50 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 138,237138.2k $1.2m $1.2m 0.00% Reduced -529.6k -529,552
51 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 132,222132.2k $1.1m $1.1m 0.00% Reduced -14.9k -14,930
52 STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio MADISON, WI 130,494130.5k $1.1m $1.1m 0.00% Added +35.1k +35,080
53 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 130,205130.2k $1.1m $1.1m 0.00% Reduced -55.3k -55,300
54 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 127,940127.9k $1.1m $1.1m 0.00% New
55 VIRGINIA RETIREMENT SYSTEMS ET Al 0.01% of their portfolio RICHMOND, VA 127,300127.3k $1.1m $1.1m 0.01% Added +12.2k +12,200
56 Bouchey Financial Group, Ltd. 0.07% of their portfolio TROY, NY 126,761126.8k $1.1m $1.1m 0.07% Added +61.1k +61,145
57 JENNISON ASSOCIATES LLC 0.00% of their portfolio NEW YORK, NY 123,535123.5k $1.0m $1.0m 0.00% Reduced -46.8k -46,767
58 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 113,547113.5k $950.4k $950.4k 0.00% Added +13.9k +13,862
59 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 113,030113.0k $947.0k $947.0k 0.00% Added +6.0k +6,015
60 Y-Intercept (Hong Kong) Ltd 0.02% of their portfolio HONG KONG, K3 107,119107.1k $896.6k $896.6k 0.02% Reduced -29.5k -29,540
61 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 105,939105.9k $886.7k $886.7k 0.00% Added +31.5k +31,541
62 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 98,81498.8k $827.1k $827.1k 0.00% Added +2.6k +2,593
63 Redhawk Wealth Advisors, Inc. 0.08% of their portfolio MINNEAPOLIS, MN 97,04797.0k $812.3k $812.3k 0.08% Reduced -2.6k -2,577
64 CAXTON ASSOCIATES LLP 0.01% of their portfolio LONDON, X0 89,41889.4k $748.4k $748.4k 0.01% New
65 Atom Investors LP 0.06% of their portfolio AUSTIN, TX 81,45681.5k $681.8k $681.8k 0.06% Added +50.0k +50,019
66 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 74,29674.3k $621.9k $621.9k 0.00% Reduced -6.2k -6,183
67 Schonfeld Strategic Advisors LLC 0.00% of their portfolio NEW YORK, NY 73,68373.7k $616.7k $616.7k 0.00% Added +2.1k +2,054
68 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 72,77172.8k $609.0k $609.0k 0.00% Added +6.7k +6,719
69 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 71,63171.6k $599.6k $599.6k 0.00% Added +35.5k +35,465
70 Caption Management, LLC 0.02% of their portfolio OKLAHOMA CITY, OK 67,24767.2k $562.9k $562.9k 0.02% Reduced -33.0k -33,021
71 TEACHER RETIREMENT SYSTEM OF TEXAS 0.00% of their portfolio AUSTIN, TX 66,48666.5k $556.5k $556.5k 0.00% Reduced -12.6k -12,613
72 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 64,56864.6k $540.4k $540.4k 0.00% Reduced -2.3k -2,315
73 VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio ATLANTA, GA 57,85557.9k $484.2k $484.2k 0.00% Added +3.3k +3,347
74 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 54,98355.0k $460.2k $460.2k 0.00% Added +831 +831
75 VANGUARD ASSET MANAGEMENT, Ltd 0.00% of their portfolio London, EC4N 8AF, X0 53,84753.8k $450.7k $450.7k 0.00% Unchanged
76 Legal & General Group Plc 0.00% of their portfolio London, X0 53,68853.7k $449.4k $449.4k 0.00% Added +612 +612
77 MetLife Investment Management, LLC 0.00% of their portfolio Whippany, NJ 41,47341.5k $347.1k $347.1k 0.00% Added +9.8k +9,800
78 Quantinno Capital Management LP 0.00% of their portfolio NEW YORK, NY 40,74240.7k $341.0k $341.0k 0.00% Added +21.1k +21,098
79 Engineers Gate Manager LP 0.00% of their portfolio NEW YORK, NY 37,60037.6k $314.7k $314.7k 0.00% Reduced -37.5k -37,462
80 FEDERATED HERMES, INC. 0.00% of their portfolio PITTSBURGH, PA 37,12337.1k $310.7k $310.7k 0.00% Added +12.3k +12,251
81 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 36,06636.1k $301.9k $301.9k 0.00% Unchanged
82 Vanguard Global Advisers, LLC 0.00% of their portfolio MALVERN, PA 31,25531.3k $261.6k $261.6k 0.00% Unchanged
83 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 30,04530.0k $251.5k $251.5k 0.00% Reduced -3.8k -3,781
84 CANADA PENSION PLAN INVESTMENT BOARD 0.00% of their portfolio TORONTO ONTARIO, A6 27,80027.8k $232.7k $232.7k 0.00% Unchanged
85 FOX RUN MANAGEMENT, L.L.C. 0.04% of their portfolio GREENWICH, CT 26,57526.6k $222.4k $222.4k 0.04% Added +12.2k +12,177
86 State of Wyoming 0.02% of their portfolio CHEYENNE, WY 25,20325.2k $210.9k $210.9k 0.02% Reduced -6.0k -6,014
87 VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio San Antonio, TX 22,47822.5k $188.1k $188.1k 0.00% Added +243 +243
88 Jupiter Topco LLC 0.00% of their portfolio NEW YORK, NY 22,44422.4k $187.5k $187.5k 0.00% First filing
89 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 22,08322.1k $184.8k $184.8k 0.00% Added +8.6k +8,600
90 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 19,98520.0k $167.0k $167.0k 0.00% New
91 STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio TALLAHASSEE, FL 19,72719.7k $165.1k $165.1k 0.00% Unchanged
92 ARIZONA STATE RETIREMENT SYSTEM 0.00% of their portfolio PHOENIX, AZ 19,45819.5k $162.9k $162.9k 0.00% Added +29 +29
93 Police & Firemen's Retirement System of New Jersey 0.00% of their portfolio TRENTON, NJ 18,87118.9k $157.9k $157.9k 0.00% Unchanged
94 Pine Valley Investments Ltd Liability Co 0.01% of their portfolio MARLTON, NJ 18,82518.8k $160.6k $160.6k 0.01% Reduced -7.7k -7,675
95 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 17,92217.9k $150.0k $150.0k 0.00% Reduced -862 -862
96 Mariner, LLC 0.00% of their portfolio Overland Park, KS 16,11116.1k $134.8k $134.8k 0.00% Added +3.2k +3,234
97 Vanguard Investments Australia, Ltd. 0.00% of their portfolio Victoria, C3 15,70215.7k $131.4k $131.4k 0.00% Unchanged
98 INTECH INVESTMENT MANAGEMENT LLC 0.00% of their portfolio WEST PALM BEACH, FL 15,43915.4k $129.2k $129.2k 0.00% Reduced -9.3k -9,251
99 IEQ CAPITAL, LLC 0.00% of their portfolio Foster City, CA 15,27815.3k $127.9k $127.9k 0.00% New
100 KLP KAPITALFORVALTNING AS 0.00% of their portfolio OSLO, Q8 14,90014.9k $127.8k $127.8k 0.00% Unchanged