Who owns TPB (TPB)
Which tracked institutional funds hold TPB, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See TPB company fundamentals →
Ownership as of the 2026-Q1 13F filings. 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
59 tracked funds added or opened TPB while 101 trimmed or exited it between 2025-Q4 and 2026-Q1 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
TPB’s largest tracked holder by dollar value, VANGUARD GROUP INC, sizes it at 0.0% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.0pp gap the other way — the median holder sizes TPB more heavily than its largest holder by dollar value does.
Book-share is each fund’s reported value in TPB divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 240 tracked filers holding TPB, 126 increased or opened the position and 127 reduced or closed it; over the same quarter, open-market insider Form 4 buying and selling roughly offset.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in TPB between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 18
- VANGUARD CAPITAL MANAGEMENT LLC$71M
- VANGUARD PORTFOLIO MANAGEMENT LLC$35M
- Junto Capital Management LP$21M
- VANGUARD FIDUCIARY TRUST CO$11M
- Ceredex Value Advisors LLC$9M
- Weiss Asset Management LP$5M
Full exits 18
- VANGUARD GROUP INC$141M
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$41M
- MANGROVE PARTNERS IM, LLC$29M
- TWO SIGMA ADVISERS, LP$12M
- OBERWEIS ASSET MANAGEMENT INC/$11M
- CASTLEARK MANAGEMENT LLC$7M
Largest adds
- JPMORGAN CHASE & CO$19M
- T. Rowe Price Investment Management, Inc.$17M
- Thrivent Financial for Lutherans$15M
- TWO SIGMA INVESTMENTS, LP$13M
- Copeland Capital Management, LLC$13M
- MILLENNIUM MANAGEMENT LLC$10M
Largest trims
- Divisadero Street Capital Management, LP$32M
- MORGAN STANLEY$31M
- ArrowMark Colorado Holdings LLC$30M
- BlackRock, Inc.$29M
- LORD, ABBETT & CO. LLC$26M
- FMR LLC$18M
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| BlackRock, Inc. added | 1,470,602 | $128M | 7.1% | 2026-Q1 |
| Thrivent Financial for Lutherans added | 1,232,365 | $107M | 5.9% | 2026-Q1 |
| VANGUARD CAPITAL MANAGEMENT LLC new | 816,155 | $71M | 3.9% | 2026-Q1 |
| ArrowMark Colorado Holdings LLC trimmed | 745,423 | $65M | 3.6% | 2026-Q1 |
| FIRST TRUST ADVISORS LP added | 689,905 | $60M | 3.3% | 2026-Q1 |
| Driehaus Capital Management LLC added | 642,731 | $56M | 3.1% | 2026-Q1 |
| GEODE CAPITAL MANAGEMENT, LLC added | 600,965 | $52M | 2.9% | 2026-Q1 |
| TWO SIGMA INVESTMENTS, LP added | 514,953 | $45M | 2.5% | 2026-Q1 |
| FMR LLC trimmed | 462,510 | $40M | 2.2% | 2026-Q1 |
| DIMENSIONAL FUND ADVISORS LP trimmed | 453,791 | $39M | 2.2% | 2026-Q1 |
| Maple Rock Capital Partners Inc. added | 436,000 | $38M | 2.1% | 2026-Q1 |
| Copeland Capital Management, LLC added | 407,208 | $35M | 2.0% | 2026-Q1 |
| FIRST SABREPOINT CAPITAL MANAGEMENT LP | 400,000 | $35M | 1.9% | 2026-Q1 |
| VANGUARD PORTFOLIO MANAGEMENT LLC new | 399,806 | $35M | 1.9% | 2026-Q1 |
| STATE STREET CORP added | 383,553 | $33M | 1.9% | 2026-Q1 |
| T. Rowe Price Investment Management, Inc. added | 369,050 | $32M | 1.8% | 2026-Q1 |
| AMERICAN CENTURY COMPANIES INC added | 365,476 | $32M | 1.8% | 2026-Q1 |
| Divisadero Street Capital Management, LP trimmed | 295,578 | $26M | 1.4% | 2026-Q1 |
| PRICE T ROWE ASSOCIATES INC /MD/ added | 294,717 | $26M | 1.4% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ added | 290,813 | $25M | 1.4% | 2026-Q1 |
| JPMORGAN CHASE & CO added | 289,376 | $25M | 1.4% | 2026-Q1 |
| Apis Capital Advisors, LLC added | 254,000 | $22M | 1.2% | 2026-Q1 |
| Madison Avenue Partners, LP | 247,723 | $21M | 1.2% | 2026-Q1 |
| Junto Capital Management LP new | 241,723 | $21M | 1.2% | 2026-Q1 |
| WELLINGTON MANAGEMENT GROUP LLP trimmed | 227,600 | $20M | 1.1% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC added | 185,052 | $16M | 0.9% | 2026-Q1 |
| NORTHERN TRUST CORP added | 177,608 | $15M | 0.9% | 2026-Q1 |
| Pillsbury Lake Capital LLC added | 170,058 | $15M | 0.8% | 2026-Q1 |
| BANK OF MONTREAL /CAN/ added | 156,652 | $14M | 0.8% | 2026-Q1 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 155,023 | $13M | 0.7% | 2026-Q1 |
| RIPOSTE CAPITAL LLC added | 150,000 | $13M | 0.7% | 2026-Q1 |
| Qube Research & Technologies Ltd added | 131,944 | $11M | 0.6% | 2026-Q1 |
| D. E. Shaw & Co., Inc. trimmed | 131,938 | $11M | 0.6% | 2026-Q1 |
| VANGUARD FIDUCIARY TRUST CO new | 130,285 | $11M | 0.6% | 2026-Q1 |
| Harspring Capital Management, LLC trimmed | 126,808 | $11M | 0.6% | 2026-Q1 |
| GUARDIAN POINT CAPITAL, LP added | 125,000 | $11M | 0.6% | 2026-Q1 |
| MARSHALL WACE, LLP added | 124,009 | $11M | 0.6% | 2026-Q1 |
| MILLENNIUM MANAGEMENT LLC added | 123,817 | $11M | 0.6% | 2026-Q1 |
| MORGAN STANLEY trimmed | 119,488 | $10M | 0.6% | 2026-Q1 |
| KING LUTHER CAPITAL MANAGEMENT CORP added | 118,769 | $10M | 0.6% | 2026-Q1 |
| Ceredex Value Advisors LLC new | 107,425 | $9M | 0.5% | 2026-Q1 |
| Prospect Capital Advisors, LLC trimmed | 104,480 | $9M | 0.5% | 2026-Q1 |
| Aristides Capital LLC added | 103,164 | $9M | 0.5% | 2026-Q1 |
| FINDELL CAPITAL MANAGEMENT LLC trimmed | 95,000 | $8M | 0.5% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 94,273 | $8M | 0.5% | 2026-Q1 |
| CRAWFORD INVESTMENT COUNSEL INC trimmed | 86,066 | $7M | 0.4% | 2026-Q1 |
| Nuveen, LLC added | 80,453 | $7M | 0.4% | 2026-Q1 |
| Bank of New York Mellon Corp trimmed | 77,714 | $7M | 0.4% | 2026-Q1 |
| Trexquant Investment LP trimmed | 72,350 | $6M | 0.3% | 2026-Q1 |
| CANNELL CAPITAL LLC added | 71,692 | $6M | 0.3% | 2026-Q1 |
| Universal- Beteiligungs- und Servicegesellschaft mbH | 71,587 | $6M | 0.3% | 2026-Q1 |
| JANE STREET GROUP, LLC trimmed | 70,216 | $6M | 0.3% | 2026-Q1 |
| STATE OF WISCONSIN INVESTMENT BOARD trimmed | 69,958 | $6M | 0.3% | 2026-Q1 |
| AWH Capital, L.P. | 69,450 | $6M | 0.3% | 2026-Q1 |
| SEI INVESTMENTS CO added | 68,676 | $6M | 0.3% | 2026-Q1 |
| UBS Group AG added | 67,476 | $6M | 0.3% | 2026-Q1 |
| Ballast Asset Management, LP added | 66,887 | $6M | 0.3% | 2026-Q1 |
| Squarepoint Ops LLC trimmed | 66,675 | $6M | 0.3% | 2026-Q1 |
| 4D Advisors, LLC trimmed | 65,000 | $6M | 0.3% | 2026-Q1 |
| Caption Management, LLC | 64,952 | $6M | 0.3% | 2026-Q1 |
| Veradace Capital Management LLC | 62,661 | $5M | 0.3% | 2026-Q1 |
| AQR CAPITAL MANAGEMENT LLC trimmed | 60,588 | $5M | 0.3% | 2026-Q1 |
| OSTERWEIS CAPITAL MANAGEMENT INC trimmed | 58,875 | $5M | 0.3% | 2026-Q1 |
| PRELUDE CAPITAL MANAGEMENT, LLC added | 56,777 | $5M | 0.3% | 2026-Q1 |
| Weiss Asset Management LP new | 54,248 | $5M | 0.3% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 53,000 | $5M | 0.3% | 2026-Q1 |
| THOMPSON SIEGEL & WALMSLEY LLC added | 49,575 | $4M | 0.2% | 2026-Q1 |
| Potrero Capital Research LLC trimmed | 48,527 | $4M | 0.2% | 2026-Q1 |
| Vest Financial, LLC added | 48,273 | $4M | 0.2% | 2026-Q1 |
| Norris Financial Group, LLC trimmed | 47,824 | $4M | 0.2% | 2026-Q1 |
| Invesco Ltd. trimmed | 46,010 | $4M | 0.2% | 2026-Q1 |
| CITADEL ADVISORS LLC trimmed | 44,730 | $4M | 0.2% | 2026-Q1 |
| Bronte Capital Management Pty Ltd. added | 42,859 | $4M | 0.2% | 2026-Q1 |
| Militia Capital Management LLC new | 40,000 | $3M | 0.2% | 2026-Q1 |
| PICTON MAHONEY ASSET MANAGEMENT added | 39,511 | $3M | 0.2% | 2026-Q1 |
| MAVERICK CAPITAL LTD added | 38,832 | $3M | 0.2% | 2026-Q1 |
| VICTORY CAPITAL MANAGEMENT INC trimmed | 37,573 | $3M | 0.2% | 2026-Q1 |
| HighTower Advisors, LLC trimmed | 36,619 | $3M | 0.2% | 2026-Q1 |
| Swiss National Bank | 35,500 | $3M | 0.2% | 2026-Q1 |
| GROUP ONE TRADING LLC added | 32,659 | $3M | 0.2% | 2026-Q1 |
| Access Investment Management LLC trimmed | 32,335 | $3M | 0.2% | 2026-Q1 |
| Walleye Trading LLC added | 31,184 | $3M | 0.2% | 2026-Q1 |
| Marathon Partners Equity Management, LLC added | 31,000 | $3M | 0.1% | 2026-Q1 |
| VANGUARD GROUP INC trimmed | 1,296,465 | $141M | 7.8% | 2025-Q4 stale |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP trimmed | 377,611 | $41M | 2.3% | 2025-Q4 stale |
| MANGROVE PARTNERS IM, LLC added | 265,205 | $29M | 1.6% | 2025-Q4 stale |
| TWO SIGMA ADVISERS, LP trimmed | 115,000 | $12M | 0.7% | 2025-Q4 stale |
| OBERWEIS ASSET MANAGEMENT INC/ added | 103,500 | $11M | 0.6% | 2025-Q4 stale |
| G2 Investment Partners Management LLC added | 111,000 | $11M | 0.6% | 2025-Q3 stale |
| RENAISSANCE TECHNOLOGIES LLC trimmed | 91,552 | $9M | 0.5% | 2025-Q3 stale |
| MUFG Securities EMEA plc new | 85,600 | $8M | 0.5% | 2025-Q3 stale |
| CASTLEARK MANAGEMENT LLC trimmed | 61,944 | $7M | 0.4% | 2025-Q4 stale |
| Foundry Partners, LLC trimmed | 96,190 | $6M | 0.3% | 2025-Q1 stale |
| Northern Right Capital Management, L.P. trimmed | 60,895 | $5M | 0.3% | 2025-Q2 stale |
| Portolan Capital Management, LLC added | 70,451 | $4M | 0.2% | 2025-Q1 stale |
| Fund 1 Investments, LLC new | 39,400 | $4M | 0.2% | 2025-Q3 stale |
| Connor, Clark & Lunn Investment Management Ltd. trimmed | 32,983 | $4M | 0.2% | 2025-Q4 stale |
| Balyasny Asset Management L.P. added | 31,390 | $3M | 0.2% | 2025-Q4 stale |
| MIRABELLA FINANCIAL SERVICES LLP new | 50,000 | $3M | 0.2% | 2025-Q1 stale |
| TUDOR INVESTMENT CORP ET AL trimmed | 36,783 | $3M | 0.2% | 2025-Q2 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.