TMC the metals company Inc.

TMC • NASDAQ

TMC the metals company Inc. is a industrial materials company in the basic materials sector on NASDAQ, led by Gerard Barron, with a market cap of $2.7B. As of Q3 2025, 12% of shares are held by 167 institutional investors, with FIRST MANHATTAN CO as the largest holder at 3.9%.

Chief Executive OfficerGerard Barron

Market Cap$2.7B

Industrial Materials

Basic Materials

Employees46.0

Websitemetals.co

Country

United States of America

Overview

Overview of institutional ownership in TMC as of Q3 2025 with a market cap of $2.6B

All Institutions

Institutions: 167
Value Held: $298.8M
Shares Held: 46.8M
Avg Position: $1.8M
Median Position: $144.7K

Hedge Funds

Hedge Funds: 18
Value Held: $68.0M
Shares Held: 10.7M
Avg Position: $3.8M
Median Position: $1.1M

Ownership Breakdown

Institutional (non-HF)

8.92%

$230.8M

Hedge Funds

2.63%

$68.0M

Retail & Other

88.46%

$2.3B

Based on market cap of $2.6B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in TMC as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
FIRST MANHATTAN CO Institution	Zachary A Wydra CEO	$100.9M 0.27% of portfolio	3.90% 15.8M shares	Q3 2022 Held for 3y 2m	$37.6B
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	-	$25.0M 0.04% of portfolio	0.97% 3.9M shares	Q3 2021 Held for 4y 2m	$67.9B
Baird Financial Group, Inc. Private Equity	Paul Lee Schultz General Counsel	$17.2M 0.03% of portfolio	0.66% 2.7M shares	Q4 2021 Held for 3y 11m	$62.0B
Sourcerock Group LLC Hedge Fund•Long/Short	Andrew Michael Haley COO	$16.1M 1.10% of portfolio	0.62% 2.5M shares	Q3 2025 Held for 2 months	$1.5B
DRIEHAUS CAPITAL MANAGEMENT LLC Hedge Fund•Event Driven	Stephen Thomas Weber CEO	$12.7M 0.09% of portfolio	0.49% 2.0M shares	Q3 2025 Held for 2 months	$13.9B
O Old West Investment Management, LLC Hedge Fund•Multi-Strategy	Chad William Cook Managing Partner	$12.7M 2.90% of portfolio	0.49% 2.0M shares	Q1 2023 Held for 2y 8m	$439.2M
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	Dan Michael Berkovitz Chairman	$12.1M 0.01% of portfolio	0.47% 1.9M shares	Q2 2023 Held for 2y 5m	$121.98B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$10.7M 0.00% of portfolio	0.41% 1.7M shares	Q3 2021 Held for 4y 2m	$1.65T
B BlackRock, Inc. Institution	-	$6.4M 0.00% of portfolio	0.25% 1.0M shares	Q3 2023 Held for 2y 2m	$5.67T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$6.1M 0.00% of portfolio	0.24% 963.1K shares	Q2 2024 Held for 1y 5m	$2.88T

Net Capital Flow

Institutional buying and selling activity for TMC in Q3 2025

Traded: +$12.4M
Buyers: 95
Sellers: 69
Total Bought: +$72.4M
Total Sold: −$60.0M
Avg Position: $1.5M

Biggest Buyers

Institution	Net Bought	Current Position
Sourcerock Group LLC Hedge Fund•Long/Short	+$16.1M +2.5M shares	$16.1M 2.5M shares
DRIEHAUS CAPITAL MANAGEMENT LLC Hedge Fund•Event Driven	+$12.7M +2.0M shares	$12.7M 2.0M shares
MORGAN STANLEY RIA/Wealth	+$8.3M +1.3M shares	$10.7M 1.7M shares
O Old West Investment Management, LLC Hedge Fund•Multi-Strategy	+$4.2M +662.2K shares	$12.7M 2.0M shares
G GROUP ONE TRADING, L.P. Institution	+$3.3M +525.1K shares	$3.3M 525.1K shares
J JANE STREET GROUP, LLC Institution	+$2.8M +446.9K shares	$3.0M 476.9K shares
Mirador Capital Partners LP RIA/Wealth	+$2.2M +339.2K shares	$2.9M 450.0K shares
Baird Financial Group, Inc. Private Equity	+$2.1M +336.7K shares	$17.2M 2.7M shares
Verition Fund Management LLC Hedge Fund•Multi-Strategy	+$1.7M +270.9K shares	$2.4M 371.4K shares
STATE STREET CORP Institution	+$1.7M +267.7K shares	$6.1M 963.1K shares

Biggest Sellers

Institution	Net Sold	Current Position
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$21.7M −3.4M shares	$12.1M 1.9M shares
J Jump Financial, LLC Institution	−$6.2M −941.8K shares	Sold Off 0 shares
VOLORIDGE INVESTMENT MANAGEMENT, LLC Hedge Fund•Multi-Strategy	−$5.5M −855.9K shares	$1.0M 159.1K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$3.6M −545.9K shares	Sold Off 0 shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$2.8M −438.4K shares	$2.9M 451.1K shares
X XTX Topco Ltd Institution	−$2.0M −306.9K shares	Sold Off 0 shares
M MISSION WEALTH MANAGEMENT, LLC Institution	−$2.0M −300.0K shares	Sold Off 0 shares
H HRT FINANCIAL LLC Institution	−$1.8M −269.5K shares	Sold Off 0 shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	−$1.7M −269.0K shares	$2.8M 442.4K shares
BANK OF AMERICA CORP /DE/ Institution	−$1.6M −243.9K shares	$1.1M 165.0K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited TMC in Q3 2025

New Positions: 37
New Value: $34.8M
Exited Positions: 33
Exited Value: $21.6M

New Positions

Institution	Position Value
Sourcerock Group LLC Hedge Fund•Long/Short	$16.1M 2.5M shares
DRIEHAUS CAPITAL MANAGEMENT LLC Hedge Fund•Event Driven	$12.7M 2.0M shares
Mutual Advisors, LLC RIA/Wealth	$1.6M 218.2K shares
C Concentric Capital Strategies, LP Hedge Fund•Long/Short	$585.0K 91.8K shares
V VIRGINIA RETIREMENT SYSTEMS ET AL Institution	$410.2K 64.4K shares
Fortress Wealth Group, LLC RIA/Wealth	$378.4K 55.0K shares
E Ensign Peak Advisors, Inc Institution	$370.1K 58.1K shares
P Perbak Capital Partners LLP Institution	$360.9K 56.7K shares
B BLAIR WILLIAM & CO/IL Institution	$328.4K 51.6K shares
F Freestone Grove Partners LP Hedge Fund•Multi-Strategy	$232.2K 36.5K shares

Exited Positions

Institution	Previous Position
J Jump Financial, LLC Institution	$6.2M 941.8K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	$3.6M 545.9K shares
X XTX Topco Ltd Institution	$2.0M 306.9K shares
M MISSION WEALTH MANAGEMENT, LLC Institution	$2.0M 300.0K shares
H HRT FINANCIAL LLC Institution	$1.8M 269.5K shares
Fortis Group Advisors, LLC RIA/Wealth	$1.2M 203.3K shares
V Virtu Financial LLC Institution	$888.4K 134.6K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	$665.9K 100.9K shares
S Squarepoint Ops LLC Hedge Fund•Quant	$607.7K 92.1K shares
G GeoSphere Capital Management Hedge Fund•Long/Short	$330.0K 50.0K shares

Options Activity

Institutions with the largest Call and Put options positions in TMC as of Q3 2025

Call Positions: 11
Call Value: $30.2M
Put Positions: 7
Put Value: $21.0M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$15.5M 24.3K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$5.7M 8.9K contracts
P PEAK6 LLC Institution	$2.8M 4.4K contracts
W WOLVERINE TRADING, LLC Institution	$2.2M 3.3K contracts
J JANE STREET GROUP, LLC Institution	$1.9M 3.0K contracts
Walleye Trading LLC RIA/Wealth	$890.5K 1.4K contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$687.3K 1.1K contracts
Caption Management, LLC Hedge Fund•Long/Short	$372.6K 585.0 contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$203.2K 319.0 contracts
D DRW Securities, LLC Institution	- - contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$14.1M 22.1K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$3.8M 5.9K contracts
J JANE STREET GROUP, LLC Institution	$1.8M 2.9K contracts
W WOLVERINE TRADING, LLC Institution	$643.1K 994.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$482.2K 757.0 contracts
Walleye Trading LLC RIA/Wealth	$153.5K 241.0 contracts
UBS Group AG Institution	- - contracts

Most Committed Institutions

Institutions with TMC as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
O Old West Investment Management, LLC Hedge Fund•Multi-Strategy	Chad William Cook Managing Partner	2.90% $12.7M	0.49% 2.0M shares	Q1 2023 Held for 2y 8m	$439.2M
Sourcerock Group LLC Hedge Fund•Long/Short	Andrew Michael Haley COO	1.10% $16.1M	0.62% 2.5M shares	Q3 2025 Held for 2 months	$1.5B
A AUA CAPITAL MANAGEMENT, LLC Institution	-	0.69% $1.2M	0.05% 192.1K shares	Q1 2022 Held for 3y 8m	$178.2M
Mirador Capital Partners LP RIA/Wealth	Audrey Denise Glafkides COO	0.41% $2.9M	0.11% 450.0K shares	Q2 2025 Held for 5 months	$706.3M
N New Hampshire Trust Institution	-	0.28% $1.5M	0.06% 229.8K shares	Q2 2024 Held for 1y 5m	$513.9M
FIRST MANHATTAN CO Institution	Zachary A Wydra CEO	0.27% $100.9M	3.90% 15.8M shares	Q3 2022 Held for 3y 2m	$37.6B
Optivise Advisory Services LLC RIA/Wealth	Michael Ray Wallin Managing Partner	0.19% $314.0K	0.01% 49.3K shares	Q2 2024 Held for 1y 5m	$167.3M
Fortress Wealth Group, LLC RIA/Wealth	John Edward Ledford President	0.16% $378.4K	0.01% 55.0K shares	Q3 2025 Held for 2 months	$231.7M
E EQUITEC PROPRIETARY MARKETS, LLC Institution	-	0.15% $25.5K	0.00% 4.0K shares	Q4 2021 Held for 3y 11m	$16.8M
Hubbell Strickland Wealth Management, LLC RIA/Wealth	Carson Wayne Strickland CCO	0.10% $244.8K	0.01% 38.4K shares	Q4 2022 Held for 2y 11m	$243.0M