Ranked by reported Q1 2026 13F market value
Share of total reported institutional value in TRTX held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | Long Pond Capital, LP | 7.0M | $54.9M | -0.1% | 9.092% | 5.61% |
| 2 | BlackRock, Inc. | 6.3M | $49.0M | -6.2% | 8.112% | 0.00% |
| 3 | GRATIA CAPITAL, LLC | 4.3M | $33.6M | +111.8% | 5.564% | 20.67% |
| 4 | VANGUARD CAPITAL MANAGEMENT LLC | 3.2M | $25.2M | — | 4.169% | 0.00% |
| 5 | MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 3.2M | $24.8M | +88.6% | 4.115% | 0.03% |
| 6 | State of New Jersey Common Pension Fund A | 3.1M | $24.6M | 0.0% | 4.074% | 10.89% |
| 7 | TPG GP A, LLC | 2.4M | $18.7M | 0.0% | 3.095% | 0.51% |
| 8 | STATE STREET CORP | 1.9M | $15.3M | +5.8% | 2.454% | 0.00% |
| 9 | TWO SIGMA INVESTMENTS, LP | 1.9M | $14.6M | +67.3% | 2.425% | 0.01% |
| 10 | GEODE CAPITAL MANAGEMENT, LLC | 1.8M | $14.4M | +3.4% | 2.384% | 0.00% |
| 11 | Caption Management, LLC | 1.7M | $13.3M | — | 2.199% | 0.13% |
| 12 | Qube Research & Technologies Ltd | 1.6M | $12.6M | +64.9% | 2.087% | 0.01% |
| 13 | GOLDMAN SACHS GROUP INC | 1.2M | $9.4M | -68.3% | 1.554% | 0.00% |
| 14 | CITIGROUP INC | 1.2M | $9.3M | +9.3% | 1.540% | 0.00% |
| 15 | CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 1.1M | $8.9M | +1.2% | 1.468% | 0.00% |
| 16 | SUSQUEHANNA INTERNATIONAL GROUP, LLP | 1.1M | $8.6M | +294.1% | 1.431% | 0.00% |
| 17 | One William Street Capital Management, L.P. | 1.1M | $8.4M | +124.3% | 1.384% | 15.62% |
| 18 | MORGAN STANLEY | 967K | $7.6M | -4.2% | 1.251% | 0.00% |
| 19 | ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | 930K | $7.3M | +60.4% | 1.202% | 0.00% |
| 20 | DIMENSION CAPITAL MANAGEMENT LLC | 721K | $5.6M | +4.0% | 0.932% | 0.79% |
| 21 | FMR LLC | 720K | $5.6M | +39.5% | 0.931% | 0.00% |
| 22 | WELLINGTON MANAGEMENT GROUP LLP | 714K | $5.6M | -2.3% | 0.923% | 0.00% |
| 23 | Nan Shan Life Insurance Co., Ltd. | 712K | $5.6M | -74.8% | 0.920% | 0.20% |
| 24 | NORTHERN TRUST CORP | 672K | $5.2M | +7.4% | 0.869% | 0.00% |
| 25 | MILLENNIUM MANAGEMENT LLC | 668K | $5.2M | +86.1% | 0.864% | 0.00% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). “% of Fund” shows how much of that investor’s total 13F portfolio is invested in TRTX — a direct measure of their conviction.
Filings activity in TRTX during Q1 2026, grouped by how each filer changed its position.
8 quarters of 13F filings · Δ columns show change vs prior quarter
| Quarter | Inst. Holders | Δ Holders | Ownership % | Δ Ownership | Total 13F Value | Δ Value |
|---|---|---|---|---|---|---|
| Q1 2026 | 151 | +2.0% | 70.56% | 3.87 pp | $469M | 5.2% |
| Q4 2025 | 148 | +11% | 74.43% | +0.57 pp | $494M | +0.8% |
| Q3 2025 | 133 | 1.5% | 73.86% | +2.75 pp | $490M | +3.9% |
| Q2 2025 | 135 | 8.2% | 71.11% | 4.93 pp | $472M | 6.5% |
| Q1 2025 | 147 | 3.3% | 76.04% | 4.45 pp | $505M | 5.5% |
| Q4 2024 | 152 | +3.4% | 80.49% | +10.52 pp | $535M | +15% |
| Q3 2024 | 147 | +12% | 69.97% | +9.81 pp | $465M | +16% |
| Q2 2024 | 131 | — | 60.16% | — | $400M | — |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Δ columns compare to the immediately prior filed quarter.
Quick answers to the most common questions about buying TRTX stock.
Based on Q1 2026 13F filings, institutional ownership of TPG RE Finance Trust, Inc. stands at 70.6%, held across 151 reporting institutions.
Long Pond Capital, LP is the largest reported institutional holder of TRTX, with approximately 7,029,102 shares worth $0.05B as of Q1 2026.
Yes — 3 widely-followed marquee investors appear among the top 25 institutional holders of TRTX, including TWO SIGMA INVESTMENTS, LP, SUSQUEHANNA INTERNATIONAL GROUP, LLP, MILLENNIUM MANAGEMENT LLC.
Our composite Smart Money Score for TRTX is 52 out of 100 (Neutral). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
30 institutions opened new positions in TRTX during Q1 2026, while 27 fully exited. 27 added to existing positions and 92 trimmed.
TRTX institutional ownership fell by 3.87 percentage points quarter-over-quarter, with a net change of +3 holders.
The top 10 institutions account for 58.7% of all reported 13F value in TRTX, and the top 25 account for 83.9%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.
TPG RE Finance Trust, Inc. (TRTX) Institutional Ownership