China Investment Corp

TRTX

10% OWNER · TPG RE FINANCE TRUST, INC. · CIK 0001468702

FILING MIX · LIFETIME0%/100%

BUYS

SELLS

TOTAL VALUE

$24.67M

COMPANIES

ACTIVE SINCE

Aug 2021

HOLDINGS NOW

7,387,866

AVG SELL PX

$12.33

Trades · vs SPY

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Performance · forward returns vs SPY

2 backtested trades · 8 horizonsHow are these numbers computed? →

Forward-return performance of every backtestable P/S trade by China Investment Corp, measured at 8 horizons from 7 days to 2 years. Deduped per economic event so co-filings count once. Excess return = trade return minus SPY return over the same window.

HORIZON	TRADES	WIN RATE	INSIDER RETURN	SPY RETURN	MEAN EXCESS	MEDIAN EXCESS	T-STAT
7d	2	+0.00%	+0.24%	-1.29%	+1.54%	+1.54%	—
14d	2	+0.00%	+0.20%	+0.83%	-0.63%	-0.63%	—
30d	2	+100.00%	-0.80%	-1.05%	+0.25%	+0.25%	—
60d	2	+50.00%	-0.45%	+0.26%	-0.71%	-0.71%	—
90d	2	+50.00%	+0.29%	+2.73%	-2.44%	-2.44%	—
180d	2	+50.00%	-7.30%	-6.00%	-1.30%	-1.30%	—
1y	2	+100.00%	-20.51%	-6.25%	-14.26%	-14.26%	—
2y	2	+100.00%	-43.73%	+6.35%	-50.08%	-50.08%	—

How to read this: Insider Returnis the average raw return of the filer's trades over the horizon. SPY Return is what SPY did over those same windows — reference only, not a comparison. The headline alpha number is Mean Excess = Insider − SPY; green means the filer beat SPY, red means they trailed it. Win rate is the share of individual trades where the filer beat SPY. T-statvalues above 2 mean the alpha is unlikely to be chance given the sample size. "Pending" counts trades where the horizon hasn't elapsed yet; their stats are not included in the row average.

Holdings over time

TRTX · 7,387,866 shares · as of Jan 20, 2022

Trading cadence · quarterly flow

BUY ● SELL ●

2021

2022

FLOW · 0 buys / 2 sellsCOVERAGE · 3 quarters

Form 4 filings · all activity

COMPANY	TYPE	SHARES	PRICE	VALUE	HELD AFTER	TRADE DATE	FILED	DETAILS
TRTX TPG RE FINANCE TRUST, INC.	SALE	1,000,000	$12.34	$12.34M	7,387,866	Jan 20, 2022	Jan 24, 2022 ↗	View →
TRTX TPG RE FINANCE TRUST, INC.	SALE	1,000,000	$12.33	$12.33M	8,387,866	Aug 17, 2021	Aug 19, 2021 ↗	View →

Other insiders · TRTX

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About this filer

CIK 0001468702

ROLE

10% Owner

PRIMARY

TRTX

COMPANIES

ACTIVE SINCE

Aug 2021

MARKETPEEL · /INSIDER/0001468702DATA · SEC EDGAR · FORM 4 · CONSOLIDATED TAPE

China Investment Corp

The morning brief, before the bell.