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TPG RE Finance Trust (TRTX): which funds own it

Real Estate →(by SIC code, unreviewed)Data as of Jun 30, 2026 (Q2 2026) · updated on Nov 5, 2026

A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.

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Sections with a free account

2 concentrated managers hold it with a median weight of 0.7%. 3 officers or directors bought in 6 months.

Who owns TPG RE Finance Trust?

Holders that filed a Schedule 13D or 13G with the SEC for owning more than 5% of the shares: Long Pond Capital (13G filed Feb 13, 2025) and BlackRock (13G/A filed Jul 30, 2026). As of Jun 30, 2026, the largest holders reported on Form 13F were Long Pond Capital (7.0 million shares), BlackRock (6.5 million shares) and Vanguard Capital Management (3.4 million shares).

Which institutions hold the most TPG RE Finance Trust shares?

Per Form 13F filings as of Jun 30, 2026:

  1. 1. Long Pond Capital: 7.0 million shares
  2. 2. BlackRock: 6.5 million shares
  3. 3. Vanguard Capital Management: 3.4 million shares
  4. 4. Mirae Asset Global Etfs Holdings: 3.3 million shares
  5. 5. State of New Jersey Common Pension Fund A: 3.1 million shares
  6. 6. Tpg Gp A: 2.4 million shares
  7. 7. Gratia Capital: 2.1 million shares
  8. 8. Geode Capital Management: 2.0 million shares
  9. 9. State Street: 1.8 million shares
  10. 10. Goldman Sachs Group: 1.5 million shares

Sources:13G by Long Pond Capital (Feb 13, 2025) ↗13G/A by BlackRock (Jul 30, 2026) ↗All of the company's proxy statements on EDGAR ↗

We hold 13D and 13G filings made since Dec 23, 2024: a holder above 5% that has not filed since then does not appear here.

Concentrated managers
2
All 13F: 156
Consensus
—
No score: it needs 5 or more concentrated managers
Price at Jun 30, 2026 (per 13F)
$8.37
+7.2% in the quarter · reported value ÷ shares, not the quote · See current quote ↗

Quarter flow (concentrated managers)

Change in managers (2 → 2): 0 opened · 0 exited = 0

Net flow in the quarter: −$1.6M (−191 K shares) · bought $0 and sold $1.6MShares concentrated managers added minus those they cut, valued at the 13F quarter-end implied price, not each trade's price. It is a different measure from the change in managers: the two can have opposite signs.

Concentrated managers holding it

Up to 15, sorted by position value. The percentage is the weight in each manager's portfolio.

Largest holders of TRTX (all 13F filers)

  • Long Pond Capital7.0 MInvestment firm · 9.27% of the company0
  • BlackRock6.5 MIndex manager · 8.57% of the company+227 K
  • Vanguard Capital Management3.4 MIndex manager · 4.42% of the company+130 K
  • Mirae Asset Global Etfs Holdings3.3 MIndex manager · 4.33% of the company+106 K
  • State of New Jersey Common Pension Fund A3.1 MSingle-position portfolio · 4.15% of the company0
  • TPG Gp A2.4 MPrivate equity or venture capital · 3.16% of the company0
  • Gratia Capital2.1 MInvestment firm · 2.73% of the company−634 K
  • Geode Capital Management2.0 MIndex manager · 2.58% of the company+112 K
  • State Street1.8 MIndex manager · 2.42% of the company−61 K
  • Goldman Sachs Group1.5 MBank or trading desk · 2.00% of the company+315 K

The 10 13F filers with the most shares as of Jun 30, 2026, whatever their type (index firms usually come first). “Change”: shares added or cut versus the previous quarter, split-adjusted; “no data” = there is no comparable portfolio for the previous quarter (no filing, or a filing with its holdings under confidential treatment). “% of the company” only where shares outstanding are up to date. Entities of the same group file separately and some 13F filings include other managers: there may be double counting. With a free account: the top 25, the largest buyers and the largest sellers.

Fundamentals

12-month figures to Sep 30, 2026 · balance sheet as of Sep 30, 2026.

Profitability
Operating margin
—
Net margin
—
ROE
4.4%
Growth
Revenue (TTM)
—
Revenue growth
—
Net income (TTM)
$45.4M
Balance sheet
Net debt / EBITDA
—
Free cash flow (TTM)
—
Quality vs sector
—

This company's sector comes from its SIC code, unreviewed, or has too few comparable companies: we do not compare it with its sector.

Figures from the statements the company filed with the SEC (10-K, 10-Q). Free cash flow = operating cash flow − capital expenditures; empty if the company does not report capex. “Quality vs sector”: 0 to 100, the average of its percentiles in ROE, operating margin, free-cash-flow margin, revenue and earnings growth and net debt / EBITDA (at least 3 needed) against companies in its sector above $300M. How each figure is calculated

Shares outstanding: buybacks and dilution

Diluted shares by fiscal year (split-adjusted)

2025: 79.4 M

81.7 M0
20172025
1 year
−0.6%
3 years
+2.8%
5 years
+3.6%
Buybacks (FY 2025)
$25.3M
Share issuance
no data
Stock-based compensation
$9.8M
Dividends paid
no data

From the statements the company filed with the SEC (10-K). The change compares average diluted shares of each fiscal year, on today's basis: negative = it bought back more than it issued; positive = dilution. “No data” = the company does not report that item under a tag we can read; it does not mean zero.

Earnings quality and debt

Operating cash flow ÷ net income (12 months)
1.88
Debt due within 12 months
no data
Debt maturities by year (note as of Sep 30, 2026)
  • Year 1$24.5M
  • Year 2$1.1 bn
  • Year 3$453M
  • Year 4$1.1 bn
  • Year 5—
  • Later—

From the figures the company filed with the SEC. Cash flow over net income near or above 1 means earnings are collected in cash; far below, that part is accounting. Coverage says how many times operating income pays the latest fiscal year's interest. Maturities come from the debt note of the latest annual report, counted from its closing date. “No data” never means zero.

Insiders (Form 4)

Officers and directors who bought (6 m)
3
Amount (6 m)
$299K
CEO/CFO bought (12 m)
No

10% owners who bought (6 m): 0

Open-market purchases, excluding 10b5-1 plans. Officers and directors only; joint filers of the same purchase count as one. 10% owners with no role are shown separately. 0 = nobody bought; “no data” = we do not have its Form 4 filings.

Each of the company's Form 4 filings, on EDGAR ↗Latest trades, with date and filing →

Above 5% (13D/13G)

Disclosed stakes, with their amendments. A filing is not always a purchase: there are also reductions and changes of filing entity.

This list may be incomplete: we hold 13D and 13G filings made since Dec 23, 2024. A holder above 5% that has not filed anything since then is not shown here.

Above 5% over time (13D/13G)

Each holder with its filings in order. History since December 2024.

All material events (8-K)

Earnings, agreements, financing, management changes and announcements from the last year, with a filter by type and a link to each filing.

Other Real Estate stocks in managers' portfolios

Same sector and a similar number of concentrated managers holding them. It is a list to keep exploring, not a recommendation.

All of Real Estate →

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