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.
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
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
DCM
DG Capital Management
New York
|
+$10.2M |
| 2 |
Fidelity Investments
Boston,
Massachusetts
|
+$6.82M |
| 3 |
RP
Repertoire Partners
New York
|
+$3.94M |
| 4 |
Thrivent Financial for Lutherans
Minneapolis,
Minnesota
|
+$3.82M |
| 5 |
Vanguard Group
Malvern,
Pennsylvania
|
+$3.56M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
JFG
Jefferies Financial Group
New York
|
-$15.3M |
| 2 |
FSCM
First Sabrepoint Capital Management
Dallas,
Texas
|
-$7.57M |
| 3 |
WSL
Western Standard LLC
Los Angeles,
California
|
-$4.65M |
| 4 |
GCM
Ghisallo Capital Management
Boston,
Massachusetts
|
-$3.83M |
| 5 |
Bank of Montreal
Toronto,
Ontario, Canada
|
-$2.77M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
126
Toronto Dominion Bank
Toronto, Ontario,
Ontario, Canada
| – | +$88 | +4 | New |
|
127
Nisa Investment Advisors
St. Louis,
Missouri
| – | +$242 | +11 | New |
|
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.