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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
Universal-Beteiligungs- und Servicegesellschaft
76
Universal-Beteiligungs- und Servicegesellschaft
Germany
$2.57M +$2.31M +33,917 New
Swiss National Bank
77
Swiss National Bank
Switzerland
$2.57M -$27.2K -400 -1%
PHS
78
Pekin Hardy Strauss
Illinois
$2.52M +$107K +1,575 +5%
NFG
79
Norris Financial Group
South Carolina
$2.48M -$232K -3,415 -9%
OSAM
80
O'Shaughnessy Asset Management
Connecticut
$2.36M +$605K +8,889 +40%
YIH
81
Y-Intercept (HK)
Hong Kong
$2.28M +$1.68M +24,665 +452%
RC
82
RBF Capital
California
$2.27M – – –
JP Morgan Chase
83
JP Morgan Chase
New York
$2.19M -$233K -3,432 -11%
BFM
84
Boothbay Fund Management
New York
$2M +$773K +11,360 +76%
Stifel Financial
85
Stifel Financial
Missouri
$1.97M +$74.4K +1,094 +4%
RhumbLine Advisers
86
RhumbLine Advisers
Massachusetts
$1.95M +$85.2K +1,252 +5%
MAM
87
Martingale Asset Management
Massachusetts
$1.95M -$41.9K -616 -2%
MPEM
88
Marathon Partners Equity Management
New York
$1.89M +$170K +2,500 +11%
CAM
89
Crown Advisors Management
California
$1.89M +$1.7M +25,000 New
CCM
90
Corsair Capital Management
New York
$1.86M – – –
RWM
91
Ritholtz Wealth Management
New York
$1.79M +$554K +8,151 +53%
MCP
92
Militia Capital Partners
Nevada
$1.74M +$612K +9,000 +64%
AllianceBernstein
93
AllianceBernstein
Tennessee
$1.61M +$190K +2,800 +15%
Millennium Management
94
Millennium Management
New York
$1.61M -$7.28M -107,021 -83%
Legal & General Group
95
Legal & General Group
United Kingdom
$1.41M +$81.8K +1,202 +7%
PMAM
96
Picton Mahoney Asset Management
Ontario, Canada
$1.34M +$1.21M +17,730 New
Wells Fargo
97
Wells Fargo
California
$1.33M +$50.1K +737 +4%
CP
98
CenterBook Partners
Connecticut
$1.3M -$41.1K -604 -3%
T. Rowe Price Associates
99
T. Rowe Price Associates
Maryland
$1.28M +$55.8K +820 +5%
ECM
100
ExodusPoint Capital Management
New York
$1.24M +$227K +3,334 +25%
2 3
4
5 6

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.