Vault-13

TILRAY BRANDS INC

COM · CUSIP 88688T100 · ISIN US88688T1007

320 institutional holders -16 vs Q1 2025
104,647,976104.6m shares reported held*
$43.4mreported value*
34 new 73 added 77 reduced 52 sold out net bought ≈ $5.1m (+12.2m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($22.0k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $0.41. Options: 11 managers hold calls ($4.2m notional), 11 hold puts ($4.3m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 348Q4 22: 362Q1 23: 353Q2 23: 339Q3 23: 357Q4 23: 357Q1 24: 360Q2 24: 360Q3 24: 352Q4 24: 355Q1 25: 336Q2 25: 320320Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022348
Q4 2022362
Q1 2023353
Q2 2023339
Q3 2023357
Q4 2023357
Q1 2024360
Q2 2024360
Q3 2024352
Q4 2024355
Q1 2025336
Q2 2025320

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
2000200Q3 23: 168 bought or addedQ3 23: 101 cut or sold outQ4 23: 119 bought or addedQ4 23: 142 cut or sold outQ4 23Q1 24: 140 bought or addedQ1 24: 146 cut or sold outQ2 24: 143 bought or addedQ2 24: 123 cut or sold outQ2 24Q3 24: 125 bought or addedQ3 24: 128 cut or sold outQ4 24: 124 bought or addedQ4 24: 140 cut or sold outQ4 24Q1 25: 128 bought or addedQ1 25: 130 cut or sold outQ2 25: 107 bought or addedQ2 25: 129 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023168101
Q4 2023119142
Q1 2024140146
Q2 2024143123
Q3 2024125128
Q4 2024124140
Q1 2025128130
Q2 2025107129

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$10m$20m$30mQ3 24 calls: $21.2mQ3 24 puts: $23.6mQ3 24P/C 1.11Q4 24 calls: $20.4mQ4 24 puts: $22.6mQ4 24P/C 1.11Q1 25 calls: $7.3mQ1 25 puts: $8.0mQ1 25P/C 1.10Q2 25 calls: $4.2mQ2 25 puts: $4.3mQ2 25P/C 1.02
Numbers
QuarterCallsPutsP/C
Q3 2024$21.2m$23.6m1.11
Q4 2024$20.4m$22.6m1.11
Q1 2025$7.3m$8.0m1.10
Q2 2025$4.2m$4.3m1.02

Biggest buyers

CITADEL ADVISORS LLC Added +5,239,802+5.2m
ROYAL BANK OF CANADA Added +4,551,656+4.6m
Tidal Investments LLC Added +3,776,410+3.8m
Luxor Capital Group, LP New +2,343,000+2.3m
Ausdal Financial Partners, Inc. New +2,265,416+2.3m
JANE STREET GROUP, LLC Added +2,241,580+2.2m
TWO SIGMA INVESTMENTS, LP Added +1,664,462+1.7m
MORGAN STANLEY Added +1,522,587+1.5m
MILLENNIUM MANAGEMENT LLC Added +1,250,435+1.3m
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Added +929,879+929.9k

Biggest sellers

BANK OF MONTREAL /CAN/ Reduced -2,478,386-2.5m
ARISTEIA CAPITAL, L.L.C. Sold out -2,436,913-2.4m
TD Asset Management Inc Sold out -1,627,247-1.6m
UBS Group AG Reduced -1,491,063-1.5m
HRT FINANCIAL LP Reduced -1,051,859-1.1m
CIBC Asset Management Inc Reduced -1,032,785-1.0m
DIMENSIONAL FUND ADVISORS LP Reduced -729,679-729.7k
MANUFACTURERS LIFE INSURANCE COMPANY, THE Reduced -693,438-693.4k
Squarepoint Ops LLC Reduced -616,976-617.0k
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sold out -527,995-528.0k

Biggest calls

SIMPLEX TRADING, LLC Added $881.0k2.1m shares
CITADEL ADVISORS LLC Reduced $698.8k1.7m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $691.1k1.7m shares
GROUP ONE TRADING LLC Added $679.7k1.6m shares
JANE STREET GROUP, LLC Added $475.8k1.1m shares
Parallax Volatility Advisers, L.P. Unchanged $458.0k1.1m shares
SIG North Trading, ULC Reduced $161.4k393.6k shares
WOLVERINE TRADING, LLC Reduced $147.1k367.1k shares
World Investment Advisors Unchanged $1.7k4.0k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

GROUP ONE TRADING LLC Reduced $1.2m3.0m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.2m2.9m shares
CITADEL ADVISORS LLC Reduced $908.1k2.2m shares
SIMPLEX TRADING, LLC Reduced $477.0k1.2m shares
Murchinson Ltd. New $164.0k400.0k shares
WOLVERINE TRADING, LLC Reduced $109.5k273.3k shares
JANE STREET GROUP, LLC Added $88.1k212.7k shares
BOOTHBAY FUND MANAGEMENT, LLC New $45.6k110.0k shares
SIG North Trading, ULC Reduced $30.7k74.9k shares
Squarepoint Ops LLC Unchanged $13.9k33.5k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Tidal Investments LLC 0.08% of their portfolio Milwaukee, WI 28,971,83529.0m $12.0m $12.0m 0.08% Added +3.8m +3,776,410
2 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 5,553,9585.6m $2.3m $2.3m 0.00% Added +5.2m +5,239,802
3 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 4,749,0044.7m $2.0m $2.0m 0.00% Added +4.6m +4,551,656
4 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 4,474,6854.5m $1.9m $1.9m 0.00% Added +187.4k +187,411
5 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 4,418,6714.4m $1.8m $1.8m 0.00% Reduced -512.1k -512,092
6 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 4,139,1304.1m $1.7m $1.7m 0.00% Added +1.5m +1,522,587
7 UBS Group AG 0.00% of their portfolio ZURICH, V8 3,421,7963.4m $1.4m $1.4m 0.00% Reduced -1.5m -1,491,063
8 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 3,335,5643.3m $1.4m $1.4m 0.00% Added +929.9k +929,879
9 BlackRock, Inc. 0.00% of their portfolio New York, NY 2,819,3072.8m $1.2m $1.2m 0.00% Added +85.3k +85,254
10 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 2,525,6432.5m $1.0m $1.0m 0.00% Added +387.1k +387,149
11 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 2,374,5672.4m $984.0k $984.0k 0.00% Added +2.2m +2,241,580
12 Luxor Capital Group, LP 0.13% of their portfolio NEW YORK, NY 2,343,0002.3m $970.9k $970.9k 0.13% New
13 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 2,307,6932.3m $956.3k $956.3k 0.00% Added +1.7m +1,664,462
14 Ausdal Financial Partners, Inc. 0.06% of their portfolio Davenport, IA 2,265,4162.3m $938.8k $938.8k 0.06% New
15 Swiss National Bank 0.00% of their portfolio ZURICH, V8 1,928,1381.9m $799.0k $799.0k 0.00% Added +111.5k +111,500
16 Quinn Opportunity Partners LLC 0.07% of their portfolio CHARLOTTESVILLE, VA 1,918,0801.9m $794.9k $794.9k 0.07% Added +200.0k +200,000
17 GROUP ONE TRADING LLC 0.02% of their portfolio CHICAGO, IL 1,669,0021.7m $691.6k $691.6k 0.02% Added +9.2k +9,202
18 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 1,297,2591.3m $534.1k $534.1k 0.00% Added +1.3m +1,250,435
19 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 1,251,5671.3m $518.6k $518.6k 0.00% Reduced -421.8k -421,771
20 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 1,192,6431.2m $494.2k $494.2k 0.00% Added +604.6k +604,598
21 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 1,158,5371.2m $480.1k $480.1k 0.00% Added +551.5k +551,483
22 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 998,046998.0k $413.0k $413.0k 0.00% Reduced -1.1m -1,051,859
23 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 978,432978.4k $405.5k $405.5k 0.00% Added +9.7k +9,741
24 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 778,513778.5k $322.6k $322.6k 0.00% Unchanged
25 Legal & General Group Plc 0.00% of their portfolio London, X0 756,116756.1k $313.3k $313.3k 0.00% Unchanged
26 SIMPLEX TRADING, LLC 0.01% of their portfolio CHICAGO, IL 615,504615.5k $254.0k $254.0k 0.01% Reduced -493.1k -493,082
27 AdvisorShares Investments LLC 0.04% of their portfolio BETHESDA, MD 491,535491.5k $203.7k $203.7k 0.04% Added +3.8k +3,800
28 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 473,265473.3k $196.1k $196.1k 0.00% Reduced -9.2k -9,250
29 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 447,953448.0k $185.6k $185.6k 0.00% Reduced -180.7k -180,714
30 TORONTO DOMINION BANK 0.00% of their portfolio TORONTO, ONTARIO, A6 442,789442.8k $182.2k $182.2k 0.00% Added +377.7k +377,652
31 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 427,214427.2k $175.1k $175.1k 0.00% Reduced -12.7k -12,747
32 STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio MADISON, WI 393,360393.4k $163.0k $163.0k 0.00% Reduced -16.3k -16,251
33 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 373,618373.6k $154.8k $154.8k 0.00% Reduced -729.7k -729,679
34 GSA CAPITAL PARTNERS LLP 0.01% of their portfolio LONDON, X0 360,672360.7k $149.0k $149.0k 0.01% New
35 Greenwich Wealth Management LLC 0.01% of their portfolio GREENWICH, CT 353,700353.7k $147.0k $147.0k 0.01% Unchanged
36 Baader Bank Aktiengesellschaft 0.01% of their portfolio Unterschleissheim, 2M 339,706339.7k $134.5k $134.5k 0.01% Added +33.7k +33,684
37 State of Wyoming 0.02% of their portfolio CHEYENNE, WY 334,576334.6k $138.6k $138.6k 0.02% Added +93.4k +93,411
38 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 329,006329.0k $136.3k $136.3k 0.00% Added +57.6k +57,639
39 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 311,810311.8k $129.1k $129.1k 0.00% Added +65.4k +65,379
40 SBI Securities Co., Ltd. 0.00% of their portfolio TOKYO, M0 300,707300.7k $124.6k $124.6k 0.00% Added +24.4k +24,375
41 ARIZONA STATE RETIREMENT SYSTEM 0.00% of their portfolio PHOENIX, AZ 294,518294.5k $122.0k $122.0k 0.00% Added +25.8k +25,814
42 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 287,026287.0k $118.9k $118.9k 0.00% Added +73.5k +73,512
43 Vontobel Holding Ltd. 0.00% of their portfolio ZURICH, V8 272,662272.7k $113.0k $113.0k 0.00% Added +30.8k +30,818
44 XTX Topco Ltd 0.00% of their portfolio LONDON, X0 270,966271.0k $112.3k $112.3k 0.00% New
45 Marathon Trading Investment Management LLC 0.06% of their portfolio RADNOR, PA 251,800251.8k $104.3k $104.3k 0.06% Unchanged
46 BLAIR WILLIAM & CO/IL 0.00% of their portfolio CHICAGO, IL 239,743239.7k $99.3k $99.3k 0.00% Added +86.0k +86,010
47 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 230,432230.4k $95.5k $95.5k 0.00% Reduced -2.5m -2,478,386
48 WOLVERINE TRADING, LLC 0.00% of their portfolio CHICAGO, IL 228,942228.9k $91.7k $91.7k 0.00% Reduced -3.7k -3,707
49 Wealthfront Advisers LLC 0.00% of their portfolio Palo Alto, CA 221,477221.5k $91.8k $91.8k 0.00% Reduced -9.1k -9,090
50 JANUS HENDERSON GROUP PLC 0.00% of their portfolio LONDON, X0 219,391219.4k $91.4k $91.4k 0.00% Unchanged
51 Federation des caisses Desjardins du Quebec 0.00% of their portfolio LEVIS, A8 216,512216.5k $87.5k $87.5k 0.00% Reduced -187 -187
52 Tradewinds Capital Management, LLC 0.02% of their portfolio BELLINGHAM, WA 203,461203.5k $84.3k $84.3k 0.02% Added +130.0k +130,001
53 TWO SIGMA ADVISERS, LP 0.00% of their portfolio NEW YORK, NY 197,100197.1k $81.7k $81.7k 0.00% Reduced -31.5k -31,500
54 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 194,055194.1k $80.4k $80.4k 0.00% Added +58 +58
55 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 181,296181.3k $75.0k $75.0k 0.00% Reduced -50.1k -50,053
56 Bank Julius Baer & Co. Ltd, Zurich 0.00% of their portfolio ZURICH, V8 174,770174.8k $72.4k $72.4k 0.00% Reduced -1 -1
57 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 168,189168.2k $69.7k $69.7k 0.00% Unchanged
58 Freestone Capital Holdings, LLC 0.00% of their portfolio Seattle, WA 163,767163.8k $67.9k $67.9k 0.00% Reduced -373 -373
59 AVANTAX ADVISORY SERVICES, INC. 0.00% of their portfolio DALLAS, TX 162,309162.3k $67.3k $67.3k 0.00% Added +37.8k +37,840
60 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 160,650160.7k $66.6k $66.6k 0.00% Reduced -2.9k -2,863
61 Virtu Financial LLC 0.00% of their portfolio New York, NY 153,590153.6k $64.0k $64.0k 0.00% Added +122.1k +122,118
62 TEACHER RETIREMENT SYSTEM OF TEXAS 0.00% of their portfolio AUSTIN, TX 152,557152.6k $63.2k $63.2k 0.00% Reduced -25.4k -25,374
63 NORTHSTAR ASSET MANAGEMENT INC 0.02% of their portfolio Boston, MA 149,886149.9k $62.1k $62.1k 0.02% Unchanged
64 CENTRAL VALLEY ADVISORS, LLC 0.02% of their portfolio SACRAMENTO, CA 146,067146.1k $60.5k $60.5k 0.02% Unchanged
65 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 145,004145.0k $60.1k $60.1k 0.00% Reduced -5.7k -5,665
66 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 139,243139.2k $57.1k $57.1k 0.00% Added +63.4k +63,403
67 Private Advisor Group, LLC 0.00% of their portfolio MORRISTOWN, NJ 133,024133.0k $55.1k $55.1k 0.00% Reduced -17.7k -17,712
68 CENTAURUS FINANCIAL, INC. 0.00% of their portfolio ANAHEIM, CA 130,589130.6k $54.0k $54.0k 0.00% Unchanged
69 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 124,362124.4k $51.5k $51.5k 0.00% Reduced -11.2k -11,161
70 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 114,622114.6k $47.5k $47.5k 0.00% Reduced -7.2k -7,165
71 SIGNATUREFD, LLC 0.00% of their portfolio ATLANTA, GA 114,424114.4k $47.4k $47.4k 0.00% Unchanged
72 Pictet Asset Management Holding SA 0.00% of their portfolio CAROUGE, V8 110,837110.8k $45.9k $45.9k 0.00% Unchanged
73 PFG Investments, LLC 0.00% of their portfolio WOODBURY, NY 105,778105.8k $43.8k $43.8k 0.00% Reduced -24.9k -24,945
74 SIG North Trading, ULC 0.01% of their portfolio Bala Cynwyd, PA 105,671105.7k $43.8k $43.8k 0.01% Added +86.7k +86,700
75 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 100,103100.1k $41.5k $41.5k 0.00% Reduced -617.0k -616,976
76 Madrona Financial Services, LLC 0.01% of their portfolio EVERETT, WA 100,000100.0k $41.4k $41.4k 0.01% Unchanged
77 Hilton Capital Management, LLC 0.00% of their portfolio Garden City, NY 99,42899.4k $41.2k $41.2k 0.00% New
78 Marex Group Ltd 0.00% of their portfolio London, X0 95,64995.6k $39.6k $39.6k 0.00% Reduced -462.1k -462,144
79 PUBLIC EMPLOYEES RETIREMENT ASSOCIATION OF COLORADO 0.00% of their portfolio DENVER, CO 93,44593.4k $39.0k $39.0k 0.00% Unchanged
80 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 92,56092.6k $38.5k $38.5k 0.00% Added +45.9k +45,929
81 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 91,56891.6k $37.0k $37.0k 0.00% New
82 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 88,26688.3k $36.6k $36.6k 0.00% Reduced -4.1k -4,094
83 THOMPSON DAVIS & CO., INC. 0.02% of their portfolio RICHMOND, VA 83,00083.0k $34.4k $34.4k 0.02% Reduced -30.3k -30,267
84 Stratos Wealth Partners, LTD. 0.00% of their portfolio BEACHWOOD, OH 81,27281.3k $33.7k $33.7k 0.00% Added +71.2k +71,170
85 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 81,10981.1k $33.6k $33.6k 0.00% Reduced -3.0k -3,005
86 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 78,80378.8k $32.7k $32.7k 0.00% Reduced -22.9k -22,909
87 CreativeOne Wealth, LLC 0.00% of their portfolio OVERLAND PARK, KS 77,68277.7k $32.2k $32.2k 0.00% Added +3.3k +3,303
88 SCOTIA CAPITAL INC. 0.00% of their portfolio TORONTO, A6 76,16676.2k $30.8k $30.8k 0.00% Added +952 +952
89 Advisory Services Network, LLC 0.00% of their portfolio ATLANTA, GA 75,33175.3k $43.8k $43.8k 0.00% Reduced -707 -707
90 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 74,78774.8k $31.0k $31.0k 0.00% Added +19.0k +19,019
91 J.W. COLE ADVISORS, INC. 0.00% of their portfolio TAMPA, FL 71,89071.9k $29.8k $29.8k 0.00% Added +48.2k +48,177
92 Estate Counselors, LLC 0.00% of their portfolio Thiensville, WI 70,00070.0k $29.0k $29.0k 0.00% Unchanged
93 Garde Capital, Inc. 0.00% of their portfolio SEATTLE, WA 69,35569.4k $28.7k $28.7k 0.00% Unchanged
94 TWO SIGMA SECURITIES, LLC 0.00% of their portfolio NEW YORK, NY 68,73968.7k $28.5k $28.5k 0.00% New
95 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 67,19467.2k $28.0k $28.0k 0.00% New
96 Optiver Holding B.V. 0.00% of their portfolio AMSTERDAM, P7 66,00866.0k $27.4k $27.4k 0.00% Reduced -70.6k -70,563
97 CANADA LIFE ASSURANCE Co 0.00% of their portfolio WINNIPEG, A2 64,68964.7k $27.0k $27.0k 0.00% Unchanged
98 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 63,17163.2k $26.2k $26.2k 0.00% Reduced -33.1k -33,074
99 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 60,99861.0k $25.3k $25.3k 0.00% Added +8.2k +8,162
100 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 60,10760.1k $25.0k $25.0k 0.00% Reduced -21.0k -20,952