Which funds own TRGP
Targa Res Corp in the Q2 2026 filings. At least 8 of the 91 current managers on file reported a position, worth $7.5bn between them. It is among the largest positions of fewer than a fifth of the current managers on file. The quarter went the other way: 9 managers trimmed or sold out against 3 buying.
- Managers holding
- 8
- at least, of 91 current
- Combined value
- $7.5bn
- as reported
- Opened
- 2
- new this quarter
- Added to
- 1
- already held
- Trimmed or sold out
- 9
- 4 sold out entirely
Only each manager’s largest 200 positions are listed here, so a smaller holder may be missing.
Managers reporting a position
Largest first. Weight is the share of that manager’s whole reported book, which is the number worth quoting: $400m is a rounding error in one book and a defining bet in another.
| Manager | Value | Weight | Shares | Change on the quarter | Action |
|---|---|---|---|---|---|
| Wellington Management Group LLP Long-only · $580bn book | $3.8bn | 0.7% | 14,176,394 | +$29m-867,067 | Trimmed |
| Harris Associates LP Activist · $75.4bn book | $2.1bn | 2.8% | 7,937,530 | -$59m-785,673 | Trimmed |
| Neuberger Berman Group LLC Long-only · $150bn book | $722m | 0.5% | 2,693,151 | +$43m-16,745 | Trimmed |
| D. E. Shaw & Co. Quantitative · $210bn book | $611m | 0.3% | 2,279,804 | +$2.5m-148,221 | Trimmed |
| Point72 Asset Management LP Multi-strategy · $90.7bn book | $109m | 0.1% | 406,253 | +$1.2m-23,398 | Trimmed |
| Holocene Advisors LP Long/short equity · $44.4bn book | $60m | 0.1% | 222,131 | opened222,131 | New |
| Walleye Capital LLC Multi-strategy · $28.0bn book | $31m | 0.1% | 116,415 | +$25m+92,544 | Added |
| Caxton Associates LLP Macro · $5.3bn book | $9.8m | 0.2% | 36,626 | opened36,626 | New |
Sold out of this quarter
Valued at what the position was worth in the previous filing, because by this one it is gone.
- Balyasny Asset Management LLC · Multi-strategy$30m held before
- Voloridge Investment Management LLC · Quantitative$26m held before
- ExodusPoint Capital Management LP · Multi-strategy$20m held before
- Bridgewater Associates LP · Macro$3.2m held before
Ownership through time
At least 16 of the 95 managers whose filings are on file listed TRGP in Q2 2026, against 4 in Q2 2013. 2 managers more than in Q1 2026: 4 started positions; 1 listed it again; 1 sold out, by its own filing; 2 no longer listed it among the positions read, which can mean a holding below the listed range or a filing not yet made.
Each manager’s largest 500 positions a quarter are read, so a small holding in a very large book can be missing, and a manager is counted as leaving only where its own filing shows it.
- Q2 2013: 4
- Q3 2013: 6
- Q4 2013: 4
- Q1 2014: 3
- Q2 2014: 7
- Q3 2014: 6
- Q4 2014: 6
- Q1 2015: 8
- Q2 2015: 3
- Q3 2015: 3
- Q4 2015: 5
- Q1 2016: 4
- Q2 2016: 7
- Q3 2016: 11
- Q4 2016: 8
- Q1 2017: 9
- Q2 2017: 8
- Q3 2017: 6
- Q4 2017: 7
- Q1 2018: 7
- Q2 2018: 6
- Q3 2018: 7
- Q4 2018: 14
- Q1 2019: 7
- Q2 2019: 5
- Q3 2019: 7
- Q4 2019: 11
- Q1 2020: 7
- Q2 2020: 12
- Q3 2020: 13
- Q4 2020: 16
- Q1 2021: 15
- Q2 2021: 13
- Q3 2021: 13
- Q4 2021: 12
- Q1 2022: 16
- Q2 2022: 13
- Q3 2022: 14
- Q4 2022: 12
- Q1 2023: 15
- Q2 2023: 15
- Q3 2023: 17
- Q4 2023: 13
- Q1 2024: 14
- Q2 2024: 17
- Q3 2024: 20
- Q4 2024: 25
- Q1 2025: 22
- Q2 2025: 19
- Q3 2025: 16
- Q4 2025: 15
- Q1 2026: 14
- Q2 2026: 16
- Q2 2013: $160m
- Q3 2013: $204m
- Q4 2013: $182m
- Q1 2014: $174m
- Q2 2014: $615m
- Q3 2014: $326m
- Q4 2014: $242m
- Q1 2015: $120m
- Q2 2015: $25m
- Q3 2015: $21m
- Q4 2015: $163m
- Q1 2016: $163m
- Q2 2016: $80m
- Q3 2016: $386m
- Q4 2016: $260m
- Q1 2017: $603m
- Q2 2017: $389m
- Q3 2017: $437m
- Q4 2017: $482m
- Q1 2018: $482m
- Q2 2018: $438m
- Q3 2018: $662m
- Q4 2018: $487m
- Q1 2019: $437m
- Q2 2019: $877m
- Q3 2019: $983m
- Q4 2019: $973m
- Q1 2020: $52m
- Q2 2020: $653m
- Q3 2020: $271m
- Q4 2020: $861m
- Q1 2021: $801m
- Q2 2021: $739m
- Q3 2021: $839m
- Q4 2021: $833m
- Q1 2022: $1.7bn
- Q2 2022: $1.3bn
- Q3 2022: $1.4bn
- Q4 2022: $1.9bn
- Q1 2023: $2.2bn
- Q2 2023: $2.1bn
- Q3 2023: $2.5bn
- Q4 2023: $2.0bn
- Q1 2024: $3.4bn
- Q2 2024: $4.0bn
- Q3 2024: $4.7bn
- Q4 2024: $5.9bn
- Q1 2025: $6.4bn
- Q2 2025: $6.1bn
- Q3 2025: $6.7bn
- Q4 2025: $7.9bn
- Q1 2026: $9.8bn
- Q2 2026: $10.4bn
Between the quarter ends of Q1 2026 and Q2 2026. Each change in shares is valued at the Q2 2026 price, so the price’s own move is left out; a 13F shows the two quarter ends, not when in between anything was bought or sold.
Started in Q2 2026
Largest increases, by shares
- Fidelity (FMR LLC)2,679,106 to 3,344,388 shares+$178m
- Invesco Ltd3,034,906 to 3,395,829 shares+$97m
- Marshall Wace LLPnew: 297,700 shares+$80m
- Holocene Advisors LPnew: 222,131 shares+$60m
- T. Rowe Price Associates Inc2,581,739 to 2,709,732 shares+$34m
Largest decreases, by shares
- Wellington Management Group LLP15,043,461 to 14,176,394 shares-$232m
- Harris Associates LP8,723,203 to 7,937,530 shares-$211m
- D. E. Shaw & Co.2,428,025 to 2,279,804 shares-$40m
- Point72 Asset Management LP429,651 to 406,253 shares-$6.3m
- Neuberger Berman Group LLC2,709,896 to 2,693,151 shares-$4.5m
Left it
| Manager | Value over time | First listed | Largest | Q2 2026 |
|---|---|---|---|---|
| Wellington Management Group LLP | Q1 2017 | $3.8bn | $3.8bn | |
| Harris Associates LP | Q1 2025 | $2.2bn | $2.1bn | |
| Invesco Ltd | Q2 2019 | $915m | $911m | |
| Fidelity (FMR LLC) | Q2 2014 | $897m | $897m | |
| T. Rowe Price Associates Inc | Q3 2016 | $727m | $727m | |
| Neuberger Berman Group LLC | Q2 2013 | $722m | $722m | |
| D. E. Shaw & Co. | Q4 2020 | $611m | $611m | |
| MFS Investment Management | Q1 2017 | $285m | $285m | |
| Point72 Asset Management LP | Q1 2016 | $153m | $109m | |
| Marshall Wace LLP | Q1 2015 | $80m | $80m | |
| Holocene Advisors LP | Q4 2017 | $68m | $60m | |
| Walleye Capital LLC | Q2 2020 | $37m | $31m | |
| Freestone Grove Partners LP | Q4 2024 | $43m | $13m | |
| Woodline Partners LP | Q1 2026 | $12m | $12m | |
| Caxton Associates LLP | Q2 2016 | $9.8m | $9.8m | |
| Citadel Advisors LLC | Q3 2017 | $203m | last listed Q3 2023 | |
| Millennium Management LLC | Q2 2013 | $184m | last listed Q3 2025 | |
| Arrowstreet Capital LP | Q2 2020 | $171m | last listed Q2 2025 | |
| Renaissance Technologies LLC | Q2 2013 | $156m | last listed Q3 2025 | |
| Balyasny Asset Management LLC | Q3 2013 | $142m | last listed Q4 2025 | |
| AQR Capital Management LLC | Q1 2022 | $114m | last listed Q1 2025 | |
| AllianceBernstein LP | Q3 2022 | $109m | last listed Q1 2023 | |
| Voloridge Investment Management LLC | Q4 2015 | $102m | last listed Q1 2026 | |
| Man Group PLC | Q2 2022 | $77m | last listed Q3 2025 | |
| Soroban Capital Partners LP | Q3 2015 | $76m | last listed Q1 2016 |
What TRGP is worth
Knowing who owns it is half the question. The other half is what it is worth against the companies it trades beside, which is the one an interviewer will follow up with.
Build the comp set around TRGP →How much of the picture this is
A Form 13F reports US-listed long equity and nothing else: no shorts, no bonds, no cash and no non-US listings. It arrives forty-five days after the quarter ends, so a manager who sold in July still shows the position in a filing published in August. This page reads the managers on file here rather than every filer in the market, and each manager’s largest positions rather than the whole table, so a small position in a very large book may not appear. Say “their last filing showed” rather than “they own”, and the distinction will do you credit.
What to do with a name the funds are buying
Knowing who owns something is the start of a pitch, not the pitch. The next questions are what it is worth and why they were buying.
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The holdings, every quarter, and the week between
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