TOLL BROTHERS INC TOL
COM · Common Stock · CUSIP 889478103 · ISIN US8894781033
American home builder
- SectorIndustrials
- IndustryOperative Builders
- HeadquartersFort Washington, PA
- Founded1986
- Websitetollbrothers.com
- FilingsSEC EDGAR
* 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 ($16.6m this quarter). Holder counts are more reliable. Shares outstanding: 98.2m as of 2025-05-27, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $114.16. Options: 22 managers hold calls ($174.0m notional), 23 hold puts ($205.4m).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 383 |
| Q4 2022 | 428 |
| Q1 2023 | 450 |
| Q2 2023 | 519 |
| Q3 2023 | 520 |
| Q4 2023 | 575 |
| Q1 2024 | 644 |
| Q2 2024 | 660 |
| Q3 2024 | 719 |
| Q4 2024 | 722 |
| Q1 2025 | 665 |
| Q2 2025 | 663 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 253 | 231 |
| Q4 2023 | 264 | 269 |
| Q1 2024 | 302 | 305 |
| Q2 2024 | 319 | 317 |
| Q3 2024 | 370 | 313 |
| Q4 2024 | 307 | 361 |
| Q1 2025 | 290 | 389 |
| Q2 2025 | 355 | 302 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $303.9m | $365.4m | 1.20 |
| Q4 2024 | $259.0m | $378.0m | 1.46 |
| Q1 2025 | $168.1m | $172.2m | 1.02 |
| Q2 2025 | $174.0m | $205.4m | 1.18 |
Biggest buyers
| AQR CAPITAL MANAGEMENT LLC | Added | +1.2m |
| D1 Capital Partners L.P. | Added | +913.9k |
| Holocene Advisors, LP | Added | +751.3k |
| DIMENSIONAL FUND ADVISORS LP | Added | +701.7k |
| BAMCO INC /NY/ | Added | +611.5k |
| Nuveen, LLC | Added | +516.9k |
| ROYAL BANK OF CANADA | Added | +458.2k |
| FMR LLC | Added | +437.8k |
| MILLENNIUM MANAGEMENT LLC | Added | +396.9k |
| Jain Global LLC | New | +273.8k |
Biggest sellers
| LONE PINE CAPITAL LLC | Sold out | -3.8m |
| Invesco Ltd. | Reduced | -905.0k |
| VICTORY CAPITAL MANAGEMENT INC | Reduced | -678.5k |
| Balyasny Asset Management L.P. | Reduced | -580.8k |
| Long Pond Capital, LP | Reduced | -474.5k |
| BlackRock, Inc. | Reduced | -465.0k |
| Point72 Asset Management, L.P. | Sold out | -353.4k |
| Qube Research & Technologies Ltd | Reduced | -351.8k |
| VANGUARD GROUP INC | Reduced | -288.7k |
| CITADEL ADVISORS LLC | Reduced | -266.7k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $30.2m264.7k shares |
| IMC-Chicago, LLC | Added | $25.2m220.5k shares |
| CITADEL ADVISORS LLC | Added | $24.5m214.9k shares |
| CAPITAL FUND MANAGEMENT S.A. | Added | $17.8m156.4k shares |
| WOLVERINE TRADING, LLC | Added | $10.8m94.8k shares |
| JANE STREET GROUP, LLC | Reduced | $10.7m93.5k shares |
| PEAK6 LLC | Added | $8.1m70.6k shares |
| Cubist Systematic Strategies, LLC | Reduced | $7.4m64.9k shares |
| Qube Research & Technologies Ltd | Added | $6.1m53.6k shares |
| SIMPLEX TRADING, LLC | Added | $5.4m47.2k shares |
Biggest puts
| CITADEL ADVISORS LLC | Reduced | $34.5m302.2k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $32.9m288.4k shares |
| CAPITAL FUND MANAGEMENT S.A. | Added | $27.3m239.5k shares |
| IMC-Chicago, LLC | Added | $20.9m183.2k shares |
| Twin Tree Management, LP | Reduced | $14.0m122.5k shares |
| SIMPLEX TRADING, LLC | Added | $11.2m98.5k shares |
| WOLVERINE TRADING, LLC | Added | $10.4m91.0k shares |
| JANE STREET GROUP, LLC | Reduced | $8.8m76.8k shares |
| Qube Research & Technologies Ltd | Added | $8.6m75.4k shares |
| BANK OF AMERICA CORP /DE/ | New | $5.7m50.0k 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.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution +0.5 pts · filed 2026-09-04 | 10.1% |
| GREENHAVEN ASSOCIATES INC 13G · institution +0.4 pts · filed 2026-01-06 | 5.9% |
| Capital World Investors 13G · institution new · filed 2025-11-13 | 5.4% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 5.2% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q2 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2023 | 0 | — | 4 | $7.1m | — |
| Q4 2023 | 0 | — | 6 | $9.5m | — |
| Q1 2024 | 0 | — | 6 | $9.7m | — |
| Q2 2024 | 0 | — | 4 | $2.9m | — |
| Q3 2024 | 0 | — | 5 | $37.4m | — |
| Q4 2024 | 0 | — | 4 | $5.9m | — |
| Q1 2025 | 0 | — | 2 | $795.2k | — |
| Q2 2025 | 0 | — | 0 | — | — |
None reported in Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.02% of their portfolio | 11.2m $1.3bn | Reduced -465.0k |
| VANGUARD GROUP INC 0.02% of their portfolio | 9.7m $1.1bn | Reduced -288.7k |
| GREENHAVEN ASSOCIATES INC 9.51% of their portfolio | 5.6m $639.3m | Added +39.3k |
| STATE STREET CORP 0.01% of their portfolio | 3.5m $398.1m | Reduced -114.0k |
| Capital World Investors 0.06% of their portfolio | 3.4m $390.8m | Added +174.0k |
| FMR LLC 0.02% of their portfolio | 2.9m $329.8m | Added +437.8k |
| DIMENSIONAL FUND ADVISORS LP 0.08% of their portfolio | 2.9m $326.5m | Added +701.7k |
| AQR CAPITAL MANAGEMENT LLC 0.25% of their portfolio | 2.6m $297.7m | Added +1.2m |
| GEODE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 2.3m $257.8m | Reduced -29.3k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.07% of their portfolio | 2.0m $229.6m | Added +78.0k |
| D1 Capital Partners L.P. 2.54% of their portfolio | 1.6m $183.1m | Added +913.9k |
| MILLENNIUM MANAGEMENT LLC 0.15% of their portfolio | 1.5m $170.6m | Added +396.9k |
| Qube Research & Technologies Ltd 0.22% of their portfolio | 1.4m $161.7m | Reduced -351.8k |
| NORGES BANK 0.02% of their portfolio | 1.4m $154.8m | Added +42.7k |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 1.3m $143.4m | Added +164.9k |
| Holocene Advisors, LP 0.35% of their portfolio | 1.2m $142.6m | Added +751.3k |
| UBS Group AG 0.03% of their portfolio | 1.2m $138.5m | Reduced -24.4k |
| BAMCO INC /NY/ 0.35% of their portfolio | 1.1m $129.5m | Added +611.5k |
| MORGAN STANLEY 0.01% of their portfolio | 1.1m $128.7m | Added +47.8k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 1.0m $114.3m | Reduced -46.7k |
| LSV ASSET MANAGEMENT 0.26% of their portfolio | 969.8k $110.7m | Reduced -30.6k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 914.4k $104.4m | Added +16.8k |
| Nuveen, LLC 0.02% of their portfolio | 747.0k $85.3m | Added +516.9k |
| JENNISON ASSOCIATES LLC 0.05% of their portfolio | 713.8k $81.5m | Added +71.8k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 704.7k $80.4m | Reduced -13.6k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 698.8k $79.8m | Added +9.3k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 642.1k $73.3m | Added +458.2k |
| Long Pond Capital, LP 4.82% of their portfolio | 641.8k $73.3m | Reduced -474.5k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.25% of their portfolio | 606.1k $69.2m | Added +128.9k |
| Pictet Asset Management Holding SA 0.06% of their portfolio | 546.1k $62.3m | Reduced -117.6k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.10% of their portfolio | 515.0k $58.8m | Reduced -193.0k |
| FIRST TRUST ADVISORS LP 0.05% of their portfolio | 509.5k $58.1m | Reduced -234.7k |
| BARCLAYS PLC 0.02% of their portfolio | 509.0k $58.1m | Added +218.1k |
| Walleye Capital LLC 0.49% of their portfolio | 463.2k $52.9m | Added +220.6k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 436.3k $49.8m | Reduced -232.3k |
| Bridgewater Associates, LP 0.20% of their portfolio | 432.9k $49.4m | Added +155.1k |
| JANUS HENDERSON GROUP PLC 0.02% of their portfolio | 415.7k $47.5m | Added +135.4k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 391.1k $44.6m | Added +86.8k |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.07% of their portfolio | 341.7k $40.2m | Added +37.0k |
| ANCHOR CAPITAL ADVISORS LLC 1.12% of their portfolio | 335.6k $38.3m | Reduced -28.0k |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 318.6k $36.4m | Added +71.9k |
| Cannell & Spears LLC 0.70% of their portfolio | 301.8k $34.4m | Added +252.7k |
| VICTORY CAPITAL MANAGEMENT INC 0.02% of their portfolio | 296.1k $33.8m | Reduced -678.5k |
| BASSWOOD CAPITAL MANAGEMENT, L.L.C. 1.68% of their portfolio | 295.5k $33.7m | Added +8.7k |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 284.1k $32.4m | Added +786 |
| Jain Global LLC 0.49% of their portfolio | 273.8k $31.2m | New |
| Prana Capital Management, LP 1.11% of their portfolio | 268.2k $30.6m | Reduced -20.5k |
| Schonfeld Strategic Advisors LLC 0.23% of their portfolio | 267.0k $30.5m | Added +200.8k |
| VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. 0.29% of their portfolio | 266.8k $30.4m | Added +174.2k |
| Invesco Ltd. 0.01% of their portfolio | 264.0k $30.1m | Reduced -905.0k |
| RHUMBLINE ADVISERS 0.03% of their portfolio | 261.5k $29.8m | Reduced -4.7k |
| Retirement Systems of Alabama 0.10% of their portfolio | 233.6k $26.7m | Added +6.6k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 225.4k $25.7m | Reduced -4.3k |
| CANADA LIFE ASSURANCE Co 0.04% of their portfolio | 221.1k $25.3m | Added +127.1k |
| Legal & General Group Plc 0.01% of their portfolio | 212.8k $24.3m | Reduced -4.3k |
| DEROY & DEVEREAUX PRIVATE INVESTMENT COUNSEL INC 1.27% of their portfolio | 205.3k $23.4m | Added +55.4k |
| Allianz Asset Management GmbH 0.03% of their portfolio | 204.2k $23.3m | Reduced -147.5k |
| Woodline Partners LP 0.12% of their portfolio | 195.6k $22.3m | Added +34.8k |
| Ceredex Value Advisors LLC 0.47% of their portfolio | 192.9k $22.0m | Reduced -79.1k |
| Swiss National Bank 0.01% of their portfolio | 189.9k $21.7m | Reduced -3.9k |
| ASSETMARK, INC 0.05% of their portfolio | 186.4k $21.3m | Added +2.4k |
| SummitTX Capital, L.P. 0.89% of their portfolio | 176.7k $20.2m | Added +35.9k |
| California Public Employees Retirement System 0.01% of their portfolio | 173.6k $19.8m | Added +3.8k |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 173.4k $19.8m | Reduced -81.3k |
| Brandywine Global Investment Management, LLC 0.14% of their portfolio | 171.4k $19.6m | Added +18.5k |
| IEQ CAPITAL, LLC 0.12% of their portfolio | 171.1k $19.5m | Added +148.1k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.03% of their portfolio | 167.3k $19.1m | Added +102.7k |
| Balyasny Asset Management L.P. 0.04% of their portfolio | 160.5k $18.3m | Reduced -580.8k |
| BRIGHTLINE CAPITAL MANAGEMENT, LLC 7.87% of their portfolio | 160.0k $18.3m | New |
| Squarepoint Ops LLC 0.04% of their portfolio | 159.0k $18.2m | Added +5.6k |
| GLOBEFLEX CAPITAL L P 1.50% of their portfolio | 158.7k $18.1m | Added +4.7k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 152.6k $17.4m | Reduced -9.4k |
| Man Group plc 0.03% of their portfolio | 141.6k $16.2m | Added +120.0k |
| CITIGROUP INC 0.01% of their portfolio | 139.3k $15.9m | Reduced -38.9k |
| MACQUARIE GROUP LTD 0.02% of their portfolio | 139.1k $15.9m | Reduced -32.5k |
| KINGDON CAPITAL MANAGEMENT, L.L.C. 2.98% of their portfolio | 135.0k $15.4m | New |
| Eisler Capital Management Ltd. 0.53% of their portfolio | 134.6k $15.4m | Reduced -22.9k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 133.2k $15.2m | Reduced -28.6k |
| DAVIS R M INC 0.28% of their portfolio | 130.6k $14.9m | Reduced -14.5k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.03% of their portfolio | 130.4k $14.9m | Reduced -446 |
| HRT FINANCIAL LP 0.08% of their portfolio | 130.3k $14.9m | New |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 128.5k $14.7m | Reduced -2.6k |
| GATEWAY INVESTMENT ADVISERS LLC 0.16% of their portfolio | 126.7k $14.5m | Added +3.4k |
| Union Bancaire Privee, UBP SA 0.20% of their portfolio | 121.1k $13.8m | Unchanged |
| Hook Mill Capital Partners, LP 1.33% of their portfolio | 118.9k $13.6m | Added +31.2k |
| Holowesko Partners Ltd. 4.98% of their portfolio | 117.1k $13.4m | Unchanged |
| STATE OF WISCONSIN INVESTMENT BOARD 0.03% of their portfolio | 114.2k $13.0m | Added +15.3k |
| PANAGORA ASSET MANAGEMENT INC 0.06% of their portfolio | 111.7k $12.7m | Reduced -154 |
| Distillate Capital Partners LLC 0.68% of their portfolio | 111.4k $12.7m | Reduced -5.9k |
| NATIONAL BANK OF CANADA /FI/ 0.01% of their portfolio | 101.3k $11.6m | Added +64.6k |
| HSBC HOLDINGS PLC 0.01% of their portfolio | 100.3k $11.5m | Added +14.2k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.02% of their portfolio | 99.4k $11.3m | Added +1.1k |
| CAPITAL FUND MANAGEMENT S.A. 0.12% of their portfolio | 99.0k $11.3m | Added +46.3k |
| Pathstone Holdings, LLC 0.04% of their portfolio | 98.9k $11.3m | Reduced -7.1k |
| Riverstone Advisors, LLC 6.03% of their portfolio | 97.8k $11.2m | Reduced -3.7k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 95.4k $10.9m | Reduced -112 |
| De Lisle Partners LLP 1.53% of their portfolio | 95.0k $10.8m | Unchanged |
| Bank Julius Baer & Co. Ltd, Zurich 0.03% of their portfolio | 89.0k $10.2m | Added +2.8k |
| Fisher Asset Management, LLC 0.00% of their portfolio | 88.9k $10.1m | Reduced -126.4k |
| Janney Montgomery Scott LLC 0.03% of their portfolio | 88.5k $10.1m | Reduced -18.3k |