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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
BBA
126
Baader Bank Aktiengesellschaft
Germany
$991K -$91 -1 -0%
MIM
127
MetLife Investment Management
New Jersey
$987K -$26K -287 -3%
SG
128
Standard General
New York
$870K – – –
Calamos Advisors
129
Calamos Advisors
Illinois
$865K +$792K +8,745 New
CIM
130
Cambria Investment Management
California
$853K +$48.9K +540 +7%
Manulife (Manufacturers Life Insurance)
131
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$840K -$35.8K -395 -4%
Walleye Trading
132
Walleye Trading
New York
$801K +$420K +4,643 +134%
Mirae Asset Global ETFs Holdings
133
Mirae Asset Global ETFs Holdings
Hong Kong
$786K -$129K -1,428 -15%
Janus Henderson Group
134
Janus Henderson Group
United Kingdom
$779K +$143K +1,577 +25%
Marshall Wace
135
Marshall Wace
United Kingdom
$759K -$66.9K -739 -9%
Simplex Trading
136
Simplex Trading
Illinois
$712K -$255K -2,822 -28%
DA
137
DCF Advisers
Connecticut
$692K -$90.5K -1,000 -13%
DTL
138
Dynamic Technology Lab
Singapore
$678K +$621K +6,858 New
VEA
139
Virtus ETF Advisers
New York
$674K – – –
MSL
140
Mackay Shields LLC
New York
$672K – – –
BNP Paribas Financial Markets
141
BNP Paribas Financial Markets
France
$634K -$499K -5,508 -46%
New York State Common Retirement Fund
142
New York State Common Retirement Fund
New York
$633K +$99.6K +1,100 +21%
VOYA Investment Management
143
VOYA Investment Management
Georgia
$611K -$894K -9,875 -61%
IA
144
IFP Advisors
Florida
$592K +$1.9K +21 +0.4%
ASRS
145
Arizona State Retirement System
Arizona
$524K +$10.3K +114 +2%
GCM
146
Graham Capital Management
Connecticut
$510K +$467K +5,160 New
QL
147
Quarry LP
New York
$494K +$453K +5,000 New
QT
148
Quantbot Technologies
New York
$473K -$899K -9,928 -67%
Raymond James Financial
149
Raymond James Financial
Florida
$472K +$412K +4,551 +2,078%
KFGK
150
Keystone Financial Group (Kentucky)
Kentucky
$470K -$39.8K -440 -8%
4 5
6
7 8

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.