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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

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

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
Capital International Investors
1
Capital International Investors
California
$3.4B +$103M +1,891,042 +3%
GQG Partners
2
GQG Partners
Florida
$1.52B +$265M +4,873,026 +21%
Capital Research Global Investors
3
Capital Research Global Investors
California
$1.17B +$30.4M +559,189 +3%
Fidelity Investments
4
Fidelity Investments
Massachusetts
$1.08B +$443M +8,161,502 +67%
BlackRock
5
BlackRock
New York
$578M -$53M -976,604 -8%
OAG
6
Orbis Allan Gray
Bermuda
$505M -$270M -4,982,838 -34%
Capital World Investors
7
Capital World Investors
California
$503M +$510M +9,397,693 +12,871%
Bank of America
8
Bank of America
North Carolina
$368M +$85.7M +1,578,860 +29%
Morgan Stanley
9
Morgan Stanley
New York
$279M +$1.24M +22,791 +0.4%
MIP
10
Mondrian Investment Partners
United Kingdom
$222M +$227M +4,185,605 New
Federated Hermes
11
Federated Hermes
Pennsylvania
$201M +$16.5M +303,136 +9%
BA
12
Bridgewater Associates
Connecticut
$199M +$18.1M +333,638 +10%
Wells Fargo
13
Wells Fargo
California
$191M +$15.3M +282,312 +9%
Goldman Sachs
14
Goldman Sachs
New York
$177M -$24.3M -447,913 -12%
Natixis Advisors
15
Natixis Advisors
Massachusetts
$165M +$4.13M +76,019 +3%
Envestnet Asset Management
16
Envestnet Asset Management
Illinois
$161M +$12.6M +231,659 +8%
Raymond James Financial
17
Raymond James Financial
Florida
$151M +$5.17M +95,221 +3%
JP Morgan Chase
18
JP Morgan Chase
New York
$145M -$1.31M -24,207 -0.9%
Newport Trust Company
19
Newport Trust Company
District of Columbia
$138M -$7.45M -137,239 -5%
Northern Trust
20
Northern Trust
Illinois
$134M -$142K -2,619 -0.1%
Two Sigma Investments
21
Two Sigma Investments
New York
$127M -$87M -1,602,926 -40%
ECP
22
Empyrean Capital Partners
California
$117M +$67.9M +1,250,000 +132%
Royal Bank of Canada
23
Royal Bank of Canada
Ontario, Canada
$109M -$12.5M -230,028 -10%
Arrowstreet Capital
24
Arrowstreet Capital
Massachusetts
$108M -$71M -1,308,501 -39%
LPL Financial
25
LPL Financial
California
$105M +$10.5M +193,807 +11%
1
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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.