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Turning Point Brands
TPB

226 hedge funds and large institutions have $1.81B invested in Turning Point Brands in 2025 Q3 according to their latest regulatory filings, with 46 funds opening new positions, 71 increasing their positions, 79 reducing their positions, and 27 closing their positions.

New
Increased
Maintained
Reduced
Closed

313% more call options, than puts

Call options by funds: $61.6M | Put options by funds: $14.9M

70% more first-time investments, than exits

New positions opened: 46 | Existing positions closed: 27

41% more capital invested

Capital invested by funds: $1.28B → $1.81B (+$531M)

40% more funds holding in top 10

Funds holding in top 10: 10 → 14 (+4)

9% more funds holding

Funds holding: 208 → 226 (+18)

7.26% more ownership

Funds ownership: 94.35% → 101.61% (+7.3%)

10% less repeat investments, than reductions

Existing positions increased: 71 | Existing positions reduced: 79

Holders
226
Holders Change
+18
Holders Change %
+8.65%
% of All Funds
2.97%
Holding in Top 10
14
Holding in Top 10 Change
+4
Holding in Top 10 Change %
+40%
% of All Funds
0.18%
New
46
Increased
71
Reduced
79
Closed
27
Calls
$61.6M
Puts
$14.9M
Net Calls
+$46.7M
Net Calls Change
+$5.19M

Top Buyers

1
T. Rowe Price Investment Management
T. Rowe Price Investment Management
Maryland
+$30.9M
2
Wellington Management Group
Wellington Management Group
Massachusetts
+$19M
3
Millennium Management
Millennium Management
New York
+$17.5M
4
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
+$17.3M
5
DCM
Driehaus Capital Management
Illinois
+$14.9M

Top Sellers

1
American Century Companies
American Century Companies
Missouri
-$20.5M
2
Morgan Stanley
Morgan Stanley
New York
-$18.8M
3
Renaissance Technologies
Renaissance Technologies
New York
-$15M
4
4A
4D Advisors
California
-$11M
5
Vanguard Group
Vanguard Group
Pennsylvania
-$9.78M
Name Holding Trade Value Shares
Change 		Change in
Stake
TIM
226
Tortoise Investment Management
New York
$99 +$91 +1 New
NRCM
227
Northern Right Capital Management
Connecticut
– -$4.61M -60,895 Closed
SCM
228
SG Capital Management
Illinois
– -$3.3M -43,570 Closed
Tudor Investment Corp
229
Tudor Investment Corp
Connecticut
– -$3.33M -36,783 Closed
PMAM
230
Picton Mahoney Asset Management
Ontario, Canada
– -$1.34M -17,730 Closed
CP
231
CenterBook Partners
Connecticut
– -$1.3M -17,157 Closed
ECM
232
ExodusPoint Capital Management
New York
– -$1.24M -16,412 Closed
Walleye Capital
233
Walleye Capital
New York
– -$1.34M -14,762 Closed
Massachusetts Financial Services
234
Massachusetts Financial Services
Massachusetts
– -$814K -10,739 Closed
KAS
235
Kestra Advisory Services
Texas
– -$783K -10,326 Closed
TI
236
Tidal Investments
Wisconsin
– -$647K -8,540 Closed
CMF
237
Counterpoint Mutual Funds
California
– -$412K -5,433 Closed
PP
238
PDT Partners
New York
– -$288K -3,799 Closed
PAG
239
Private Advisor Group
New Jersey
– -$261K -3,438 Closed
SCP
240
Seizert Capital Partners
Michigan
– -$250K -3,293 Closed
AI
241
AdvisorShares Investments
Maryland
– -$246K -3,249 Closed
LAM
242
Longboard Asset Management
Arizona
– -$236K -3,119 Closed
VRS
243
Virginia Retirement Systems
Virginia
– -$235K -3,100 Closed
Grantham, Mayo, Van Otterloo & Co (GMO)
244
Grantham, Mayo, Van Otterloo & Co (GMO)
Massachusetts
– -$233K -3,075 Closed
Lazard Asset Management
245
Lazard Asset Management
New York
– -$139K -1,842 Closed
Canada Pension Plan Investment Board
246
Canada Pension Plan Investment Board
Ontario, Canada
– -$129K -1,700 Closed
BFP
247
Briaud Financial Planning
Texas
– -$31K -418 Closed
HCA
248
Harbor Capital Advisors
Illinois
– -$4K -56 Closed
BIG
249
Brooklyn Investment Group
New York
– -$3.12K -42 Closed
WA
250
Whipplewood Advisors
Colorado
– -$1.67K -22 Closed
7 8 9
10
11

TPB Hedge Fund Activity: Q3 2025 in Review

226 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Turning Point Brands (TPB) for Q3 2025, worth a combined $1.81B — up 41% from $1.28B a quarter earlier.

Buyers outnumbered sellers: 46 funds opened new TPB positions and 27 closed out — a net gain of 19 holders — while 71 added to existing stakes and 79 trimmed.

The largest buyer was T. Rowe Price Investment Management, opening a new position worth an estimated $30.9M. The largest seller was American Century Companies, cutting an estimated $20.5M.

  • 226 institutional investors held Turning Point Brands (TPB) as of Q3 2025, up from 208 in Q2 2025.
  • Funds reported $1.81B of Turning Point Brands stock for Q3 2025, up 41% quarter-over-quarter.
  • 46 funds opened new Turning Point Brands positions in Q3 2025 and 27 closed out, a net change of +19 holders.
  • The largest Turning Point Brands buyer in Q3 2025 was T. Rowe Price Investment Management, an estimated $30.9M added.
  • The largest Turning Point Brands seller in Q3 2025 was American Century Companies, an estimated $20.5M sold.

Based on aggregated 13F filings for Q3 2025.