Private Capital reports 5.09% stake in Target Hospitality

Target Hospitality Corp. Schedule 13G shows Private Capital Management, LLC reported beneficial ownership of 5,101,355 shares of Common Stock, representing 5.09% of the class as of 03/31/2026.

Rhea-AI Filing Summary

Target Hospitality Corp. Schedule 13G shows Private Capital Management, LLC reported beneficial ownership of 5,101,355 shares of Common Stock, representing 5.09% of the class as of 03/31/2026. The filing lists sole and shared voting and dispositive powers separately.

Insights

Institutional Ownership Analyst

PCM reports a modest passive stake just above 5%.

Private Capital Management reports 5,101,355 shares (5.09%) as of 03/31/2026, with 1,896,993 shares sole voting power and 3,204,362 shared voting power. The schedule indicates passive investment status typical for a Schedule 13G filing.

Ownership is split between sole and shared authorities; the filing disclaims beneficial ownership for shares where PCM has dispositive power and notes proxy delegation dynamics. Subsequent filings could show changes if client delegations or holdings shift.

Key Figures

Shares beneficially owned: 5,101,355 shares Percent of class: 5.09% Sole voting power: 1,896,993 shares +3 more

6 metrics

Shares beneficially owned 5,101,355 shares as of <date>03/31/2026</date>

Percent of class 5.09% as of <date>03/31/2026</date>

Sole voting power 1,896,993 shares voting power held solely by PCM

Shared voting power 3,204,362 shares voting power held jointly by PCM and clients

Sole dispositive power 1,896,993 shares dispositive power held solely by PCM

Shared dispositive power 3,204,362 shares dispositive power held jointly by PCM and clients

Key Terms

Schedule 13G, beneficially owned, shared voting power, dispositive power

4 terms

Schedule 13G regulatory

"Name of issuer: Target Hospitality Corp. ... SCHEDULE 13G context"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

beneficially owned financial

"Amount beneficially owned: 5,101,355 (b) Percent of class: 5.09%"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

shared voting power regulatory

"Shared Voting Power 3,204,362.00 listed in the ownership table"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 1,896,993"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake does Private Capital Management hold in Target Hospitality (TH)?

Private Capital Management holds 5,101,355 shares, equal to 5.09% of Target Hospitality's common stock as of 03/31/2026. The Schedule 13G filing breaks down PCM's voting and dispositive powers across sole and shared authorities.

Does the filing show who controls the voting power for PCM's shares?

Yes. The filing shows 1,896,993 shares under PCM's sole voting power and 3,204,362 shares under shared voting power as disclosed on the Schedule 13G dated 03/31/2026.

Is Private Capital Management the beneficial owner of all reported shares?

PCM reports beneficial ownership of 5,101,355 shares but disclaims beneficial ownership for some shares where it only has dispositive power. The filing notes proxy delegation from certain PCM clients affecting voting authority.

What does Schedule 13G indicate about PCM's intent with the stake in TH?

A Schedule 13G filing typically indicates passive investment intent. The filing lists ownership and voting/dispositive powers without stating activist intentions, consistent with a passive institutional investor posture.

When was the ownership percentage reported?

The ownership amount and percentage are reported as of 03/31/202604/02/2026, indicating the filing was executed shortly after the reporting date.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/02/2026 - 11:08 AM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Target Hospitality Corp.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

87615L107

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 87615L107

1

Names of Reporting Persons

Private Capital Management, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,896,993.00
6	Shared Voting Power 3,204,362.00
7	Sole Dispositive Power 1,896,993.00
8	Shared Dispositive Power 3,204,362.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,101,355.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.09 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Target Hospitality Corp.
(b)	Address of issuer's principal executive offices: 9320 Lakeside Boulevard, Suite 300, The Woodlands, TX 77381
Item 2.
(a)	Name of person filing: Private Capital Management, LLC
(b)	Address or principal business office or, if none, residence: 8889 Pelican Bay Boulevard, Suite 500, Naples, Florida 34108
(c)	Citizenship: USA
(d)	Title of class of securities: Common Stock
(e)	CUSIP Number(s): 87615L107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 5,101,355
(b)	Percent of class: 5.09%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1,896,993
	(ii) Shared power to vote or to direct the vote: 3,204,362
	(iii) Sole power to dispose or to direct the disposition of: 1,896,993
	(iv) Shared power to dispose or to direct the disposition of: 3,204,362
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. No
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Private Capital Management, LLC

Signature:	/s/ Chad D. Atkins
Name/Title:	Chad D. Atkins, President
Date:	04/02/2026

Comments accompanying signature: *PCM exercises shared voting authority with respect to shares held by those PCM clients that have delegated proxy voting authority to PCM. Such delegation may be granted or revoked at any time at the client's discretion. **PCM disclaims beneficial ownership of shares over which it has dispositive power and disclaims the existence of a group.