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Turning Point Brands
TPB

108 hedge funds and large institutions have $340M invested in Turning Point Brands in 2023 Q1 according to their latest regulatory filings, with 13 funds opening new positions, 49 increasing their positions, 26 reducing their positions, and 19 closing their positions.

New
Increased
Maintained
Reduced
Closed

88% more repeat investments, than reductions

Existing positions increased: 49 | Existing positions reduced: 26

50% more funds holding in top 10

Funds holding in top 10: 2 → 3 (+1)

2.13% more ownership

Funds ownership: 89.58% → 91.71% (+2.1%)

2% more capital invested

Capital invested by funds: $332M → $340M (+$8.21M)

5% less funds holding

Funds holding: 114 → 108 (-6)

32% less first-time investments, than exits

New positions opened: 13 | Existing positions closed: 19

41% less call options, than puts

Call options by funds: $899K | Put options by funds: $1.52M

Holders
108
Holders Change
-6
Holders Change %
-5.26%
% of All Funds
1.72%
Holding in Top 10
3
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+50%
% of All Funds
0.05%
New
13
Increased
49
Reduced
26
Closed
19
Calls
$899K
Puts
$1.52M
Net Calls
-$621K
Net Calls Change
-$783K

Top Buyers

Rank Fund Capital Flow
1
DCM
DG Capital Management
New York
+$10.2M
2
Fidelity Investments
Fidelity Investments
Massachusetts
+$6.82M
3
RP
Repertoire Partners
New York
+$3.94M
4
Thrivent Financial for Lutherans
Thrivent Financial for Lutherans
Minnesota
+$3.82M
5
Vanguard Group
Vanguard Group
Pennsylvania
+$3.56M

Top Sellers

Rank Fund Capital Flow
1
JFG
Jefferies Financial Group
New York
-$15.3M
2
FSCM
First Sabrepoint Capital Management
Texas
-$7.57M
3
WSL
Western Standard LLC
California
-$4.65M
4
GCM
Ghisallo Capital Management
Massachusetts
-$3.83M
5
Bank of Montreal
Bank of Montreal
Ontario, Canada
-$2.77M
Name Holding Trade Value Shares
Change 		Change in
Stake
Norges Bank
26
Norges Bank
Norway
$3.12M +$1.66M +75,300 +103%
Northern Trust
27
Northern Trust
Illinois
$2.73M +$38K +1,729 +1%
Renaissance Technologies
28
Renaissance Technologies
New York
$2.71M +$101K +4,600 +4%
AG
29
Algert Global
California
$2.69M +$1.11M +50,296 +65%
AQR Capital Management
30
AQR Capital Management
Connecticut
$2.49M +$933K +42,395 +56%
ECP
31
Epacria Capital Partners
Colorado
$2.47M – – –
Charles Schwab
32
Charles Schwab
California
$2.36M +$17.5K +796 +0.7%
Assenagon Asset Management
33
Assenagon Asset Management
Luxembourg
$2.33M +$2.45M +111,121 New
Teacher Retirement System of Texas
34
Teacher Retirement System of Texas
Texas
$2.19M +$755K +34,289 +49%
Goldman Sachs
35
Goldman Sachs
New York
$2.11M -$48.3K -2,195 -2%
Federated Hermes
36
Federated Hermes
Pennsylvania
$1.88M -$130K -5,899 -6%
DA
37
DCF Advisers
Connecticut
$1.75M -$1.83M -83,113 Closed
M&T Bank
38
M&T Bank
New York
$1.73M +$306K +13,910 +20%
Barclays
39
Barclays
United Kingdom
$1.48M -$679K -30,876 -31%
AC
40
Aristides Capital
Kentucky
$1.42M +$383K +17,418 +35%
SG
41
Standard General
New York
$1.39M – – –
Allspring Global Investments
42
Allspring Global Investments
North Carolina
$1.28M -$6.38K -290 -0.5%
N
43
Nuveen
North Carolina
$1.16M +$254K +11,541 +26%
EMG
44
ETF Managers Group
New Jersey
$1.15M -$1.86M -84,486 -61%
FFBTD
45
First Financial Bank - Trust Division
Ohio
$1.15M – – –
HF
46
HRT Financial
New York
$1.15M +$1.2M +54,649 New
VIA
47
Vident Investment Advisory
Georgia
$1.09M +$236K +10,709 +26%
PL
48
Parthenon LLC
Kentucky
$1.09M – – –
Bank of America
49
Bank of America
North Carolina
$1.01M +$418K +18,996 +66%
Tudor Investment Corp
50
Tudor Investment Corp
Connecticut
$921K +$965K +43,860 New
1
2
3 4 5

TPB Hedge Fund Activity: Q1 2023 in Review

108 of the 6,275 institutional investors tracked by Wall St. Rank reported a position in Turning Point Brands (TPB) for Q1 2023, worth a combined $340M — up 2.5% from $332M a quarter earlier.

Sellers outnumbered buyers: 19 funds closed out of TPB and 13 opened new positions — a net loss of 6 holders — while 26 trimmed existing stakes and 49 added.

The largest buyer was DG Capital Management, adding an estimated $10.2M. The largest seller was Jefferies Financial Group, exiting entirely with an estimated $15.3M sold.

  • 108 institutional investors held Turning Point Brands (TPB) as of Q1 2023, down from 114 in Q4 2022.
  • Funds reported $340M of Turning Point Brands stock for Q1 2023, up 2.5% quarter-over-quarter.
  • 13 funds opened new Turning Point Brands positions in Q1 2023 and 19 closed out, a net change of -6 holders.
  • The largest Turning Point Brands buyer in Q1 2023 was DG Capital Management, an estimated $10.2M added.
  • The largest Turning Point Brands seller in Q1 2023 was Jefferies Financial Group, an estimated $15.3M sold.

Based on aggregated 13F filings for Q1 2023.