Tilray
TLRY
220 hedge funds and large institutions have $101M invested in Tilray in 2025 Q4 according to their latest regulatory filings, with 46 funds opening new positions, 57 increasing their positions, 77 reducing their positions, and 154 closing their positions.
95% more call options, than puts
Call options by funds: $240M | Put options by funds: $123M
0.1% less ownership
Funds ownership: 1.1% → 1% (-0.1%)
26% less repeat investments, than reductions
Existing positions increased: 57 | Existing positions reduced: 77
34% less funds holding
Funds holding: 331 → 220 (-111)
52% less capital invested
Capital invested by funds: $211M → $101M (-$110M)
70% less first-time investments, than exits
New positions opened: 46 | Existing positions closed: 154
100% less funds holding in top 10
Funds holding in top 10: 1 → 0 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HIM
Hillsdale Investment Management
Toronto,
Ontario, Canada
|
+$6.54M |
| 2 |
UBS Group
Zurich,
Switzerland
|
+$6.11M |
| 3 |
GCM
Graham Capital Management
Rowayton,
Connecticut
|
+$4.39M |
| 4 |
Goldman Sachs
New York
|
+$2.71M |
| 5 |
BlackRock
New York
|
+$2.45M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HF
HRT Financial
New York
|
-$18.1M |
| 2 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$7.03M |
| 3 |
Millennium Management
New York
|
-$4.84M |
| 4 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
-$4.32M |
| 5 |
LCG
Luxor Capital Group
New York
|
-$4.05M |
TLRY Hedge Fund Activity: Q4 2025 in Review
220 of the 8,266 institutional investors tracked by Wall St. Rank reported a position in Tilray (TLRY) for Q4 2025, worth a combined $101M — down 52% from $211M a quarter earlier.
Sellers outnumbered buyers: 154 funds closed out of TLRY and 46 opened new positions — a net loss of 108 holders — while 77 trimmed existing stakes and 57 added.
The largest buyer was Hillsdale Investment Management, opening a new position worth an estimated $6.54M. The largest seller was HRT Financial, exiting entirely with an estimated $18.1M sold.
- 220 institutional investors held Tilray (TLRY) as of Q4 2025, down from 331 in Q3 2025.
- Funds reported $101M of Tilray stock for Q4 2025, down 52% quarter-over-quarter.
- 46 funds opened new Tilray positions in Q4 2025 and 154 closed out, a net change of -108 holders.
- The largest Tilray buyer in Q4 2025 was Hillsdale Investment Management, an estimated $6.54M added.
- The largest Tilray seller in Q4 2025 was HRT Financial, an estimated $18.1M sold.
Based on aggregated 13F filings for Q4 2025.