TPG RE Finance Trust Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

What is the ownership structure of TRTX?
Owner Type	Number of Shares	Ownership Percentage
Individual Insiders	2,419,521	2.99%
VC/PE Firms	7,086,779	8.76%
General Public	11,656,915	14.4%
Institutions	59,764,518	73.8%

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 4.1%.

Top Shareholders

Top 25 shareholders own 69.72% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
8.76%	TPG Capital, L.P.	7,086,779	US$59.6m	0%	0.16%
7.45%	BlackRock, Inc.	6,030,247	US$50.7m	14.6%	no data
6.03%	The Vanguard Group, Inc.	4,876,091	US$41.0m	4.42%	no data
5.96%	The State of Michigan Retirement Systems	4,824,242	US$40.6m	0%	27.47%
4.16%	Morgan Stanley, Investment Banking and Brokerage Investments	3,365,761	US$28.3m	1,460%	no data
4.16%	Long Pond Capital, LP	3,364,826	US$28.3m	17.9%	1.42%
3.53%	Nan Shan Life Insurance Co Ltd, Asset Management Arm	2,853,485	US$24.0m	0%	0.34%
3.27%	Starwood Capital Operations, LLC	2,647,059	US$22.3m	0%	2.51%
3.22%	Caisse de dépôt et placement du Québec	2,603,580	US$21.9m	-64%	0.02%
2.64%	China Investment Corporation	2,138,587	US$18.0m	-69.8%	0.31%
2.35%	Citigroup Inc.,Banking and Securities Investments	1,901,741	US$16.0m	1.34%	0.01%
1.9%	State Street Global Advisors, Inc.	1,535,075	US$12.9m	-1.98%	no data
1.86%	Gratia Capital, LLC	1,503,250	US$12.6m	15.9%	17.79%
1.83%	Invesco Capital Management LLC	1,481,474	US$12.5m	0.82%	no data
1.8%	Geode Capital Management, LLC	1,456,883	US$12.3m	6.47%	no data
1.69%	Goldman Sachs Asset Management, L.P.	1,367,391	US$11.5m	-23%	no data
1.58%	Two Sigma Advisers, LP	1,282,500	US$10.8m	162%	0.03%
1.27%	Doug Bouquard	1,027,999	US$8.6m	68.7%	no data
1.22%	Millennium Management LLC	985,358	US$8.3m	-16.1%	0.01%
1.17%	Charles Schwab Investment Management, Inc.	945,573	US$8.0m	-15.1%	no data
1.06%	Two Sigma Investments, LP	861,196	US$7.2m	57%	0.02%
0.76%	JP Morgan Asset Management	618,420	US$5.2m	-2.49%	no data
0.71%	Acadian Asset Management LLC	574,394	US$4.8m	454%	0.01%
0.67%	Northern Trust Global Investments	544,799	US$4.6m	-9.12%	no data
0.67%	UBS Asset Management AG	543,770	US$4.6m	47.4%	no data

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/01/08 07:45
End of Day Share Price	2025/01/08 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

TPG RE Finance Trust, Inc. is covered by 10 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Eric Dray	BofA Global Research
Derek Hewett	BofA Global Research
Eric Hagen	BTIG