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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
TRCT
176
Tower Research Capital (TRC)
New York
$105K -$89.5K -989 -48%
SS
177
Sunbelt Securities
Texas
$101K -$52.6K -581 -36%
KBC Group
178
KBC Group
Belgium
$94K +$85.8K +948 New
SOW
179
State of Wyoming
Wyoming
$83.5K -$33.3K -368 -30%
UFF
180
USA Financial Formulas
Michigan
$80.5K -$32.3K -357 -30%
SOADOR
181
State of Alaska Department of Revenue
Alaska
$74K +$68K +751 New
CCM
182
Copeland Capital Management
Pennsylvania
$67.5K -$634 -7 -1%
AAP
183
Arax Advisory Partners
Colorado
$60.9K +$48.8K +539 +700%
AB
184
Amalgamated Bank
New York
$58K – – –
C
185
Covestor
United Kingdom
$56K +$4.71K +52 +10%
SIM
186
Sentry Investment Management
Wisconsin
$47K -$367K -4,051 -88%
VCM
187
Versant Capital Management
Arizona
$45.3K – – –
HNB
188
Huntington National Bank
Ohio
$45.2K +$14.7K +162 +55%
GI
189
GAMMA Investing
California
$36.4K +$3.62K +40 +12%
A
190
AlphaQuest
New York
$28.8K – – –
ASN
191
Advisory Services Network
Georgia
$28.4K +$26K +287 New
CIAM
192
Caitong International Asset Management
Hong Kong
$28.2K +$25.8K +285 New
FHC
193
First Horizon Corporation
Tennessee
$24.8K +$22.7K +251 New
EWA
194
EverSource Wealth Advisors
Alabama
$22.2K – – –
Royal Bank of Canada
195
Royal Bank of Canada
Ontario, Canada
$22K +$8.42K +93 +72%
HI
196
Harbour Investments
Wisconsin
$17.3K – – –
SCM
197
Sterling Capital Management
North Carolina
$16.9K +$7.42K +82 +92%
Comerica Bank
198
Comerica Bank
Texas
$13.7K +$4.98K +55 +65%
CA
199
Clearstead Advisors
Ohio
$12.9K +$2.72K +30 +30%
SO
200
STRS Ohio
Ohio
$9.89K +$9.05K +100 New
6 7
8
9 10

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.