British American Tobacco
BTI
823 hedge funds and large institutions have $16.4B invested in British American Tobacco in 2025 Q4 according to their latest regulatory filings, with 141 funds opening new positions, 322 increasing their positions, 240 reducing their positions, and 71 closing their positions.
99% more first-time investments, than exits
New positions opened: 141 | Existing positions closed: 71
34% more repeat investments, than reductions
Existing positions increased: 322 | Existing positions reduced: 240
16% more funds holding in top 10
Funds holding in top 10: 19 → 22 (+3)
11% more capital invested
Capital invested by funds: $14.8B → $16.4B (+$1.6B)
7% more funds holding
Funds holding: 771 → 823 (+52)
0.55% more ownership
Funds ownership: 12.74% → 13.29% (+0.55%)
31% less call options, than puts
Call options by funds: $286M | Put options by funds: $416M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity Investments
Boston,
Massachusetts
|
+$582M |
| 2 |
Marshall Wace
London,
United Kingdom
|
+$49.5M |
| 3 |
Citadel Advisors
Miami,
Florida
|
+$43.6M |
| 4 |
Optiver Holding
Amsterdam,
Netherlands
|
+$42M |
| 5 |
Balyasny Asset Management
Chicago,
Illinois
|
+$41.4M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Arrowstreet Capital
Boston,
Massachusetts
|
-$108M |
| 2 |
Point72 Asset Management
Stamford,
Connecticut
|
-$77.5M |
| 3 |
UBS AM
Chicago,
Illinois
|
-$47.1M |
| 4 |
BA
Bridgewater Associates
Westport,
Connecticut
|
-$43.1M |
| 5 |
Goldman Sachs
New York
|
-$39.9M |
BTI Hedge Fund Activity: Q4 2025 in Review
823 of the 8,263 institutional investors tracked by Wall St. Rank reported a position in British American Tobacco (BTI) for Q4 2025, worth a combined $16.4B — up 11% from $14.8B a quarter earlier.
Buyers outnumbered sellers: 141 funds opened new BTI positions and 71 closed out — a net gain of 70 holders — while 322 added to existing stakes and 240 trimmed.
The largest buyer was Fidelity Investments, adding an estimated $582M. The largest seller was Arrowstreet Capital, exiting entirely with an estimated $108M sold.
- 823 institutional investors held British American Tobacco (BTI) as of Q4 2025, up from 771 in Q3 2025.
- Funds reported $16.4B of British American Tobacco stock for Q4 2025, up 11% quarter-over-quarter.
- 141 funds opened new British American Tobacco positions in Q4 2025 and 71 closed out, a net change of +70 holders.
- The largest British American Tobacco buyer in Q4 2025 was Fidelity Investments, an estimated $582M added.
- The largest British American Tobacco seller in Q4 2025 was Arrowstreet Capital, an estimated $108M sold.
Based on aggregated 13F filings for Q4 2025.