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British American Tobacco
BTI

769 hedge funds and large institutions have $14.8B invested in British American Tobacco in 2025 Q3 according to their latest regulatory filings, with 127 funds opening new positions, 285 increasing their positions, 245 reducing their positions, and 64 closing their positions.

New
Increased
Maintained
Reduced
Closed

98% more first-time investments, than exits

New positions opened: 127 | Existing positions closed: 64

41% more call options, than puts

Call options by funds: $613M | Put options by funds: $435M

21% more capital invested

Capital invested by funds: $12.3B → $14.8B (+$2.53B)

16% more repeat investments, than reductions

Existing positions increased: 285 | Existing positions reduced: 245

7% more funds holding

Funds holding: 717 → 769 (+52)

6% more funds holding in top 10

Funds holding in top 10: 18 → 19 (+1)

0.94% more ownership

Funds ownership: 11.8% → 12.74% (+0.94%)

Holders
769
Holders Change
+52
Holders Change %
+7.25%
% of All Funds
10.09%
Holding in Top 10
19
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+5.56%
% of All Funds
0.25%
New
127
Increased
285
Reduced
245
Closed
64
Calls
$613M
Puts
$435M
Net Calls
+$178M
Net Calls Change
+$138M

Top Buyers

Rank Fund Capital Flow
1
Capital World Investors
Capital World Investors
California
+$510M
2
Fidelity Investments
Fidelity Investments
Massachusetts
+$443M
3
GQG Partners
GQG Partners
Florida
+$265M
4
Capital International Investors
Capital International Investors
California
+$103M
5
Bank of America
Bank of America
North Carolina
+$85.7M

Top Sellers

Rank Fund Capital Flow
1
OAG
Orbis Allan Gray
Bermuda
-$270M
2
Two Sigma Advisers
Two Sigma Advisers
New York
-$155M
3
Citigroup
Citigroup
New York
-$94.3M
4
Two Sigma Investments
Two Sigma Investments
New York
-$87M
5
Arrowstreet Capital
Arrowstreet Capital
Massachusetts
-$71M
Name Holding Trade Value Shares
Change 		Change in
Stake
GFM
576
GF Fund Management
China
$222K -$36.2M -667,327 -99%
RCA
577
Resonant Capital Advisors
Wisconsin
$220K +$225K +4,138 New
IG
578
IFS Group
Pennsylvania
$216K +$224K +4,130 New
CAM
579
Close Asset Management
United Kingdom
$215K – – –
RB
580
Renasant Bank
Mississippi
$214K +$219K +4,029 New
RCM
581
Requisite Capital Management
Texas
$214K +$219K +4,025 New
SIC
582
Sage Investment Counsel
Tennessee
$212K +$217K +4,000 New
CHAM
583
Clear Harbor Asset Management
Connecticut
$211K -$54.3K -1,000 -20%
BMCM
584
Burns Matteson Capital Management
New York
$211K +$215K +3,969 New
STA
585
Summit Trail Advisors
New York
$210K +$214K +3,951 New
FHC
586
First Horizon Corporation
Tennessee
$209K +$213K +3,929 New
PCMH
587
Polymer Capital Management (HK)
Hong Kong
$207K +$211K +3,893 New
KA
588
Kovack Advisors
Florida
$205K +$209K +3,853 New
PI
589
PFG Investments
New York
$204K -$55.3K -1,018 -21%
CFG
590
Carter Financial Group
Illinois
$203K +$208K +3,823 New
WA
591
Wealthstream Advisors
New York
$203K +$207K +3,817 New
FVWA
592
Foster Victor Wealth Advisors
South Carolina
$202K +$214K +3,948 New
SA
593
Shilanski & Associates
Alaska
$202K +$207K +3,807 New
KCPG
594
Kavar Capital Partners Group
Kansas
$202K +$207K +3,805 New
JIC
595
Joel Isaacson & Co
New York
$201K +$206K +3,793 New
SRL
596
Scientech Research LLC
New Jersey
$201K +$206K +3,792 New
APM
597
a16z Perennial Management
California
$201K +$206K +3,786 New
HSA
598
HBK Sorce Advisory
Pennsylvania
$201K +$215K +3,952 New
MCM
599
MAI Capital Management
Ohio
$196K -$90.9K -1,675 -31%
BC
600
Bayforest Capital
United Kingdom
$185K +$190K +3,494 New
22 23
24
25 26

BTI Hedge Fund Activity: Q3 2025 in Review

769 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in British American Tobacco (BTI) for Q3 2025, worth a combined $14.8B — up 21% from $12.3B a quarter earlier.

Buyers outnumbered sellers: 127 funds opened new BTI positions and 64 closed out — a net gain of 63 holders — while 285 added to existing stakes and 245 trimmed.

The largest buyer was Capital World Investors, adding an estimated $510M. The largest seller was Orbis Allan Gray, cutting an estimated $270M.

  • 769 institutional investors held British American Tobacco (BTI) as of Q3 2025, up from 717 in Q2 2025.
  • Funds reported $14.8B of British American Tobacco stock for Q3 2025, up 21% quarter-over-quarter.
  • 127 funds opened new British American Tobacco positions in Q3 2025 and 64 closed out, a net change of +63 holders.
  • The largest British American Tobacco buyer in Q3 2025 was Capital World Investors, an estimated $510M added.
  • The largest British American Tobacco seller in Q3 2025 was Orbis Allan Gray, an estimated $270M sold.

Based on aggregated 13F filings for Q3 2025.