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Turning Point Brands
TPB

208 hedge funds and large institutions have $1.28B invested in Turning Point Brands in 2025 Q2 according to their latest regulatory filings, with 35 funds opening new positions, 75 increasing their positions, 61 reducing their positions, and 33 closing their positions.

New
Increased
Maintained
Reduced
Closed

2,125% more call options, than puts

Call options by funds: $43.5M | Put options by funds: $1.95M

39% more capital invested

Capital invested by funds: $923M → $1.28B (+$356M)

23% more repeat investments, than reductions

Existing positions increased: 75 | Existing positions reduced: 61

7.43% more ownership

Funds ownership: 86.93% → 94.35% (+7.4%)

6% more first-time investments, than exits

New positions opened: 35 | Existing positions closed: 33

0% more funds holding

Funds holding: 207 → 208 (+1)

0% more funds holding in top 10

Funds holding in top 10: 10 → 10 (0)

Holders
208
Holders Change
+1
Holders Change %
+0.48%
% of All Funds
2.74%
Holding in Top 10
10
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.13%
New
35
Increased
75
Reduced
61
Closed
33
Calls
$43.5M
Puts
$1.95M
Net Calls
+$41.5M
Net Calls Change
+$22.5M

Top Buyers

Rank Fund Capital Flow
1
DSCM
Divisadero Street Capital Management
Florida
+$41.9M
2
MRCP
Maple Rock Capital Partners
Ontario, Canada
+$16.6M
3
DCM
Driehaus Capital Management
Illinois
+$16.4M
4
4A
4D Advisors
California
+$8.64M
5
SG Americas Securities
SG Americas Securities
New York
+$7.84M

Top Sellers

Rank Fund Capital Flow
1
NRCM
Northern Right Capital Management
Connecticut
-$10.8M
2
CLGM
Capitolis Liquid Global Markets
New York
-$8.39M
3
Millennium Management
Millennium Management
New York
-$7.28M
4
MFS
Mirabella Financial Services
United Kingdom
-$5.94M
5
SEI Investments
SEI Investments
Pennsylvania
-$5.62M
Name Holding Trade Value Shares
Change 		Change in
Stake
PCM
51
Prelude Capital Management
New York
$4.95M +$3.27M +48,117 +280%
Bank of America
52
Bank of America
North Carolina
$4.66M +$1.08M +15,932 +35%
NRCM
53
Northern Right Capital Management
Connecticut
$4.61M -$10.8M -159,283 -72%
CC
54
Cannell Capital
Wyoming
$4.57M +$2.96M +43,581 +261%
AQR Capital Management
55
AQR Capital Management
Connecticut
$4.14M -$1.92M -28,163 -34%
TI
56
Trexquant Investment
Connecticut
$3.96M +$1.49M +21,956 +72%
Group One Trading
57
Group One Trading
Illinois
$3.94M +$1.18M +17,363 +50%
GPC
58
Guardian Point Capital
Virginia
$3.79M – – –
Deutsche Bank
59
Deutsche Bank
Germany
$3.77M -$294K -4,321 -8%
PL
60
Parthenon LLC
Kentucky
$3.7M – – –
ACA
61
Apis Capital Advisors
New York
$3.64M – – –
TSW
62
Thompson Siegel & Walmsley
Virginia
$3.56M +$2.61M +38,361 +442%
AC
63
AWH Capital
Texas
$3.41M +$3.06M +45,000 New
SCM
64
SG Capital Management
Illinois
$3.3M +$2.96M +43,570 New
PEAK6
65
PEAK6
Illinois
$3.24M +$2.45M +36,093 +546%
UBS AM
66
UBS AM
Illinois
$3.23M +$1.33M +19,583 +85%
Susquehanna International Group
67
Susquehanna International Group
Pennsylvania
$2.95M -$412K -6,060 -13%
CM
68
Caption Management
Oklahoma
$2.93M +$2.63M +38,640 New
Tudor Investment Corp
69
Tudor Investment Corp
Connecticut
$2.79M -$1.23M -18,119 -33%
Barclays
70
Barclays
United Kingdom
$2.74M +$955K +14,047 +64%
OCM
71
Osterweis Capital Management
California
$2.73M +$2.45M +36,065 New
GIPM
72
G2 Investment Partners Management
New York
$2.68M +$2.4M +35,347 New
N
73
Nuveen
North Carolina
$2.66M -$1.93M -28,380 -45%
CA
74
CSM Advisors
Pennsylvania
$2.66M +$2.39M +35,085 New
PCA
75
Prospect Capital Advisors
California
$2.6M +$2.34M +34,350 New
1 2
3
4 5

TPB Hedge Fund Activity: Q2 2025 in Review

208 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Turning Point Brands (TPB) for Q2 2025, worth a combined $1.28B — up 39% from $923M a quarter earlier.

Buyers outnumbered sellers: 35 funds opened new TPB positions and 33 closed out — a net gain of 2 holders — while 75 added to existing stakes and 61 trimmed.

The largest buyer was Divisadero Street Capital Management, adding an estimated $41.9M. The largest seller was Northern Right Capital Management, cutting an estimated $10.8M.

  • 208 institutional investors held Turning Point Brands (TPB) as of Q2 2025, up from 207 in Q1 2025.
  • Funds reported $1.28B of Turning Point Brands stock for Q2 2025, up 39% quarter-over-quarter.
  • 35 funds opened new Turning Point Brands positions in Q2 2025 and 33 closed out, a net change of +2 holders.
  • The largest Turning Point Brands buyer in Q2 2025 was Divisadero Street Capital Management, an estimated $41.9M added.
  • The largest Turning Point Brands seller in Q2 2025 was Northern Right Capital Management, an estimated $10.8M sold.

Based on aggregated 13F filings for Q2 2025.