Apis Capital Triples Down on Turning Point Brands, Adds Another $10 Million in Stock
Key Points
Apis added 106,948 shares of Turning Point Brands, with an estimated trade value of $10.46 million based on the quarterly average price.
Quarter-end position value rose by $12.14 million, reflecting both additional shares and price movement.
The transaction accounted for a 1.82% increase in 13F reportable assets under management (AUM).
Post-trade, Apis Capital Advisors holds 164,377 shares of Turning Point Brands, valued at $17.82 million.
The stake represents 3.1% of fund AUM, making it the fund's 12th-largest holding.
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What happened
According to a SEC filing dated Feb. 17, 2026, Apis Capital Advisors, LLC increased its position in Turning Point Brands (NYSE: TPB) by 106,948 shares during the fourth quarter. The estimated transaction value was $10.46 million, based on the average quarterly closing price. The quarter-end position value increased by $12.14 million, reflecting both the additional shares acquired and changes in the underlying stock price.
What else to know
The buy lifted the Turning Point Brands stake to 3.1% of 13F reportable AUM following the filing.
- Top holdings after the filing:
- Celcuity: $60.04 million (10.5% of AUM)
- Aris Mining: $39.31 million (6.8% of AUM)
- Garrett Motion: $38.87 million (6.8% of AUM)
- Talen Energy: $32.69 million (5.7% of AUM)
- SSR Mining: $32.49 million (5.7% of AUM)
As of March 4, 2026, shares of Turning Point Brands were priced at $97.58, up 38.6% over the past year, outperforming the S&P 500 by 21 percentage points.
Company Overview
| Metric | Value |
|---|---|
| Price (as of market close 3/4/26) | $97.58 |
| Market Capitalization | $1.86 billion |
| Revenue (TTM) | $463.06 million |
| Net Income (TTM) | $68.15 million |
Company Snapshot
Turning Point Brands:
- Offers branded consumer products, including rolling papers, moist snuff, chewing tobacco, cigars, and vapor/CBD products under the brands Zig-Zag and Stoker's.
- Generates revenue through the manufacturing, marketing, and distribution of tobacco and alternative products, leveraging both wholesale and direct-to-consumer channels.
- Serves wholesale distributors, retail merchants, convenience stores, tobacco outlets, and online consumers across the United States.
Turning Point Brands, Inc. is a diversified consumer products company focused on the tobacco and alternative products market. The company operates through multiple well-known brands and segments, enabling it to address both traditional and emerging consumer preferences. Its scale, established distribution network, and brand portfolio provide a competitive advantage in a regulated industry.
What this transaction means for investors
Apis Capital’s purchase of Turning Point Brands is noteworthy for a number of reasons. First, the addition is a hefty one. Apis nearly tripled the number of TPB shares it owns and grew its allocation of the stock from 1.3% to 3.1%. Second, these large Q4 buys occurred after Turning Point’s stock more than doubled from the time Apis first purchased the company. This seems like a major vote of confidence from the firm.
Lastly -- and from a stock-level perspective -- Turning Points Brands is a really interesting growth stock right now as it is in the middle of a major transition. Originally known for its Stoker’s smokeless tobacco, smoking accessories, and Zig-Zag rolling papers, the company is now launching full speed ahead into the booming white nicotine pouch industry with its Fre and Alp brands. These nicotine pouch brands just delivered sales growth of 266% in Q4 and are set to equal half of Turning Point’s total revenue by the end of 2026, if guidance is correct.
Experiencing this blistering growth -- and operating in an industry expected to grow by 20% for nearly a decade to come -- I can see why Apis keeps buying TPB stock, even as its stock rises. However, despite the company’s excellent-looking earnings, the stock sold off by more than 30% from its highs in Q1, so I’ll be curious to see if Apis adds again. Trading at just 27 times forward earnings, but growing sales by 29% in its latest quarter, TPB’s growth story is reasonably priced in my opinion.
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Josh Kohn-Lindquist has no position in any of the stocks mentioned. The Motley Fool recommends Garrett Motion and Turning Point Brands. The Motley Fool has a disclosure policy.
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