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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
PFSRSONJ
151
Police & Firemen's Retirement System of New Jersey
New Jersey
$469K +$66.6K +736 +18%
Wolverine Trading
152
Wolverine Trading
Illinois
$450K +$4.34K +48 +1%
Squarepoint
153
Squarepoint
New York
$418K +$383K +4,233 New
PNC Financial Services Group
154
PNC Financial Services Group
Pennsylvania
$396K -$223K -2,462 -38%
SEI Investments
155
SEI Investments
Pennsylvania
$395K -$12.9K -143 -3%
ERSOT
156
Employees Retirement System of Texas
Texas
$393K -$40.5K -447 -10%
PGP
157
Prescott General Partners
Florida
$346K – – –
Citigroup
158
Citigroup
New York
$343K -$421K -4,649 -57%
ET
159
Entropy Technologies
New York
$335K +$306K +3,384 New
CG
160
Caprock Group
Idaho
$324K +$295K +3,257 New
EC
161
EntryPoint Capital
New York
$318K +$291K +3,212 New
LFAS
162
Level Four Advisory Services
Texas
$301K +$20.3K +224 +8%
SWP
163
Stratos Wealth Partners
Ohio
$300K +$275K +3,033 New
Zurich Cantonal Bank
164
Zurich Cantonal Bank
Switzerland
$296K +$54.9K +606 +25%
FRM
165
Fox Run Management
Connecticut
$293K +$269K +2,968 New
ProShare Advisors
166
ProShare Advisors
Maryland
$289K -$52.8K -583 -17%
FFBTD
167
First Financial Bank - Trust Division
Ohio
$275K – – –
HH
168
Hilltop Holdings
Texas
$264K +$242K +2,675 New
Carson Wealth (CWM LLC)
169
Carson Wealth (CWM LLC)
Nebraska
$252K +$34.5K +381 +18%
Baird Financial Group
170
Baird Financial Group
Wisconsin
$244K -$38.6K -426 -15%
M&T Bank
171
M&T Bank
New York
$238K +$217K +2,400 New
Pictet Asset Management
172
Pictet Asset Management
Switzerland
$215K +$197K +2,173 New
Mercer Global Advisors
173
Mercer Global Advisors
Colorado
$209K +$192K +2,118 New
Osaic Holdings
174
Osaic Holdings
Arizona
$176K -$42.9K -474 -21%
AIP
175
Ameritas Investment Partners
Nebraska
$141K -$22.2K -245 -15%
5 6
7
8 9

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.