Target Hospitality Corp.
US ˙ NasdaqCM ˙ US87615L1070

SecurityTH / Target Hospitality Corp.
InstitutionMorgan Stanley
Latest Disclosed Ownership63,523 shares
Latest Disclosed Value $ 589,493
Morgan Stanley reports 36.05% decrease in ownership of TH / Target Hospitality Corp.

On May 15, 2026 - Morgan Stanley filed a 13F-HR form disclosing ownership of 63,523 shares of Target Hospitality Corp. (US:TH) valued at $589,493 USD as of March 31, 2026. The entity filed a previous 13F-HR/A on May 27, 2026 disclosing 99,333 shares of Target Hospitality Corp.. This represents a change in shares of -36.05% during the quarter. The current value of the position is $1,083,702 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F TARGET HOSPITALITY COM 87615L107 63,523 -35,810 -36.05 589 -25.91 0.0000
2026-05-27 2025-12-31 13F/A-1 TARGET HOSPITALITY COM 87615L107 99,333 -97,601 -49.56 796 -52.40 0.0000
2026-02-13 2025-12-31 13F TARGET HOSPITALITY COM 87615L107 99,333 -97,601 796 0.0000
2026-05-27 2025-09-30 13F/A-1 TARGET HOSPITALITY COM 87615L107 196,934 -31,877 -13.93 1,670 2.52 0.0001
2025-11-14 2025-09-30 13F TARGET HOSPITALITY COM 87615L107 196,934 -31,877 1,670 0.0001
2025-08-15 2025-06-30 13F TARGET HOSPITALITY COM 87615L107 228,811 20,836 10.02 1,629 19.08 0.0001
2025-05-15 2025-03-31 13F TARGET HOSPITALITY COM 87615L107 207,975 2,174 1.06 1,368 -31.22 0.0001
2025-05-15 2024-12-31 13F/A-1 TARGET HOSPITALITY COM 87615L107 205,801 45,818 28.64 1,989 59.89 0.0001
2025-02-14 2024-12-31 13F TARGET HOSPITALITY COM 87615L107 205,801 45,818 1,989 0.0001
2025-05-14 2024-09-30 13F/A-2 TARGET HOSPITALITY COM 87615L107 159,983 61,906 63.12 1,245 45.67 0.0001
2025-02-14 2024-09-30 13F/A-1 TARGET HOSPITALITY COM 87615L107 159,983 61,906 1,245 0.0001
2024-11-14 2024-09-30 13F TARGET HOSPITALITY COM 87615L107 159,983 61,906 1,245 0.0000
2025-05-14 2024-06-30 13F/A-2 TARGET HOSPITALITY COM 87615L107 98,077 -38,264 -28.06 854 -42.38 0.0001
2024-10-17 2024-06-30 13F/A-1 TARGET HOSPITALITY COM 87615L107 98,077 -38,264 854 0.0001
2024-08-14 2024-06-30 13F TARGET HOSPITALITY COM 87615L107 98,077 -38,264 854 0.0001
2024-10-17 2024-03-31 13F/A-2 TARGET HOSPITALITY COM 87615L107 136,341 -129,170 -48.65 1,482 -42.62 0.0001
2024-08-16 2024-03-31 13F/A-1 TARGET HOSPITALITY COM 87615L107 136,341 -129,170 1,482 0.0000
2024-05-15 2024-03-31 13F TARGET HOSPITALITY COM 87615L107 136,341 -129,170 1,482 0.0001
2024-08-16 2023-12-31 13F/A-1 TARGET HOSPITALITY COM 87615L107 265,511 18,115 7.32 2,583 -34.24 0.0002
2024-02-13 2023-12-31 13F TARGET HOSPITALITY COM 87615L107 265,511 18,115 2,583 0.0002
2023-11-15 2023-09-30 13F TARGET HOSPITALITY COM 87615L107 247,396 155,894 170.37 3,929 220.13 0.0004
2023-08-14 2023-06-30 13F TARGET HOSPITALITY COM 87615L107 91,502 -533,712 -85.36 1,228 -85.06 0.0001
2023-05-15 2023-03-31 13F TARGET HOSPITALITY COM 87615L107 625,214 -103,019 -14.15 8,215 -25.49 0.0009
2023-02-14 2022-12-31 13F TARGET HOSPITALITY COM 87615L107 728,233 12,967 1.81 11,025 22.15 0.0013
2022-11-14 2022-09-30 13F TARGET HOSPITALITY COM 87615L107 715,266 624,322 686.49 9,026 1,639.11 0.0012
2022-10-27 2022-06-30 13F/A-1 TARGET HOSPITALITY COM 87615L107 90,944 40,663 80.87 519 71.85 0.0001
2022-08-15 2022-06-30 13F TARGET HOSPITALITY COM 87615L107 90,944 40,663 519 0.0000
2022-10-27 2022-03-31 13F/A-1 TARGET HOSPITALITY COM 87615L107 50,281 -3,917 -7.23 302 56.48 0.0000
2022-05-13 2022-03-31 13F TARGET HOSPITALITY COM 87615L107 50,281 -3,917 302 0.0000
2022-02-14 2021-12-31 13F TARGET HOSPITALITY COM 87615L107 54,198 -46,016 -45.92 193 -48.40 0.0000
2021-11-15 2021-09-30 13F TARGET HOSPITALITY COM 87615L107 100,214 -23,891 -19.25 374 -18.70 0.0001
2021-08-23 2021-06-30 13F/A-1 TARGET HOSPITALITY COM 87615L107 124,105 9,444 8.24 460 59.72 0.0001
2021-08-16 2021-06-30 13F TARGET HOSPITALITY COM 87615L107 124,105 9,444 460 0.0000
2021-05-17 2021-03-31 13F TARGET HOSPITALITY COM 87615L107 114,661 4,219 3.82 288 65.52 0.0000
2021-02-16 2020-12-31 13F TARGET HOSPITALITY COM 87615L107 110,442 107,232 3,340.56 174 4,250.00 0.0000
2020-11-13 2020-09-30 13F TARGET HOSPITALITY COM 87615L107 3,210 -500,590 -99.36 4 -99.53 0.0000
2020-08-14 2020-06-30 13F TARGET HOSPITALITY COM 87615L107 503,800 231,045 84.71 851 56.72 0.0002
2020-05-26 2020-03-31 13F/A-1 TARGET HOSPITALITY COM 87615L107 272,755 -1,270,841 -82.33 543 -92.96 0.0001
2020-05-15 2020-03-31 13F TARGET HOSPITALITY COM 87615L107 272,755 -1,270,841 543 41.7137
2020-02-14 2019-12-31 13F TARGET HOSPITALITY COM 87615L107 1,543,596 1,533,954 15,909.09 7,718 11,593.94 0.0018
2019-11-14 2019-09-30 13F TARGET HOSPITALITY COM 87615L107 9,642 -291,060 -96.79 66 -97.59 0.0000
2019-08-14 2019-06-30 13F TARGET HOSPITALITY COM 87615L107 300,702 300,302 75,075.50 2,736 68,300.00 0.0007
2019-05-15 2019-03-31 13F TARGET HOSPITALITY COM 87615L107 400 400 4 0.0000
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.