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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
Wolverine Trading
176
Wolverine Trading
Illinois
$3.07M +$3.16M +58,188 New
PAS
177
Park Avenue Securities
New York
$3.04M +$44.4K +817 +1%
OWM
178
Orca Wealth Management
Florida
$3.04M +$56.3K +1,037 +2%
KAS
179
Kestra Advisory Services
Texas
$3.03M -$176K -3,243 -5%
FBT
180
First Bank & Trust
South Dakota
$3.03M +$631K +11,629 +26%
UCI
181
Uncommon Cents Investing
Wisconsin
$3M -$16K -295 -0.5%
IC
182
IEQ Capital
California
$2.98M +$1.15M +21,178 +61%
6CM
183
683 Capital Management
New York
$2.97M -$2.39M -44,000 -44%
DS
184
DRW Securities
Illinois
$2.97M -$535K -9,862 -15%
New York State Common Retirement Fund
185
New York State Common Retirement Fund
New York
$2.97M -$1.24M -22,815 -29%
GIO
186
Galilei Investment Office
United Kingdom
$2.93M +$42.3K +780 +1%
EH
187
Equitable Holdings
New York
$2.91M -$746K -13,738 -20%
ECM
188
English Capital Management
Michigan
$2.89M -$339K -6,252 -10%
TCM
189
TT Capital Management
California
$2.88M -$219K -4,038 -7%
CI
190
Cherokee Insurance
Michigan
$2.82M -$326K -6,000 -10%
SC
191
Scotia Capital
Ontario, Canada
$2.79M +$226K +4,155 +9%
CFLC
192
California First Leasing Corp
California
$2.79M – – –
CM
193
Caption Management
Oklahoma
$2.77M +$554K +10,204 +24%
AR
194
Advisory Research
Illinois
$2.73M +$2.79M +51,468 New
VA
195
Vident Advisory
Georgia
$2.72M +$596K +10,978 +27%
S
196
SignatureFD
Georgia
$2.68M +$153K +2,820 +6%
BFG
197
Bleakley Financial Group
New Jersey
$2.62M +$102K +1,883 +4%
AF
198
Advisornet Financial
Minnesota
$2.6M -$55.2K -1,017 -2%
IQI
199
Integrated Quantitative Investments
Washington
$2.58M -$1.23M -22,712 -32%
AWA
200
Arkadios Wealth Advisors
Georgia
$2.58M +$223K +4,099 +9%
6 7
8
9 10

BTI Hedge Fund Activity: Q3 2025 in Review

769 of the 7,619 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.