TopBuild Corporation

BLD • NYSE

TopBuild Corporation is a engineering & construction company in the industrials sector on NYSE, led by Robert Buck, with a market cap of $12.2B. As of Q3 2025, 104% of shares are held by 539 institutional investors, with Capital Research Global Investors as the largest holder at 12.43%.

Chief Executive OfficerRobert Buck

Market Cap$12.2B

Engineering & Construction

Industrials

Employees14.0K

Websitetopbuild.com

Country

United States of America

Overview

Overview of institutional ownership in BLD as of Q3 2025 with a market cap of $11.0B

All Institutions

Institutions: 539
Value Held: $11.4B
Shares Held: 29.2M
Avg Position: $21.2M
Median Position: $823.4K

Hedge Funds

Hedge Funds: 50
Value Held: $386.6M
Shares Held: 989.0K
Avg Position: $7.7M
Median Position: $3.1M

Ownership Breakdown

Institutional (non-HF)

100.25%

$11.0B

Hedge Funds

3.51%

$386.6M

Retail & Other

Based on market cap of $11.0B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in BLD as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
Capital Research Global Investors RIA/Wealth	Maria Alejandra Herrera CIO	$1.4B 0.26% of portfolio	12.43% 3.5M shares	Q3 2018 Held for 7y 2m	$532.36B
B BlackRock, Inc. Institution	-	$1.1B 0.02% of portfolio	10.05% 2.8M shares	Q3 2015 Held for 10y 2m	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$1.0B 0.02% of portfolio	9.33% 2.6M shares	Q3 2015 Held for 10y 2m	$6.69T
FMR LLC Institution	-	$801.4M 0.04% of portfolio	7.29% 2.1M shares	Q3 2015 Held for 10y 2m	$1.92T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$397.1M 0.01% of portfolio	3.61% 1.0M shares	Q3 2015 Held for 10y 2m	$2.88T
C Capital International Investors Institution	-	$346.8M 0.06% of portfolio	3.15% 887.2K shares	Q3 2020 Held for 5y 2m	$615.90B
C Capital World Investors Institution	-	$337.9M 0.05% of portfolio	3.07% 864.6K shares	Q3 2015 Held for 10y 2m	$730.00B
Robeco Investment Management, Inc. Long Only Manager	Joseph Francis Feeney CEO	$305.7M 0.31% of portfolio	2.78% 781.6K shares	Q1 2025 Held for 8 months	$97.8B
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$293.3M 0.02% of portfolio	2.67% 750.4K shares	Q2 2015 Held for 10y 5m	$1.33T
T T. Rowe Price Investment Management, Inc. Insurance Manager	John Edward Robison President	$254.0M 0.16% of portfolio	2.31% 649.8K shares	Q1 2024 Held for 1y 8m	$161.58B

Net Capital Flow

Institutional buying and selling activity for BLD in Q3 2025

Traded: +$189.6M
Buyers: 282
Sellers: 211
Total Bought: +$1.0B
Total Sold: −$830.8M
Avg Position: $19.7M

Biggest Buyers

Institution	Net Bought	Current Position
ROYAL LONDON ASSET MANAGEMENT LTD Digital Asset Manager	+$100.4M +257.0K shares	$150.8M 385.8K shares
WESTFIELD CAPITAL MANAGEMENT CO LP Long Only Manager	+$88.0M +225.0K shares	$88.0M 225.0K shares
NORDEA INVESTMENT MANAGEMENT AB Institution	+$75.0M +194.0K shares	$107.9M 278.8K shares
A Artemis Investment Management LLP Institution	+$46.3M +118.4K shares	$46.3M 118.4K shares
B BNP Paribas Investment Partners S.A. Institution	+$42.9M +109.7K shares	$56.8M 145.3K shares
A ADAGE CAPITAL PARTNERS GP LLC Institution	+$37.1M +95.0K shares	$37.1M 95.0K shares
D DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main Institution	+$36.0M +92.0K shares	$218.4M 558.8K shares
UBS Group AG Institution	+$33.0M +84.3K shares	$96.5M 246.9K shares
MORGAN STANLEY RIA/Wealth	+$29.4M +75.3K shares	$116.4M 297.7K shares
N Neuberger Berman Group LLC Institution	+$27.8M +71.0K shares	$30.4M 77.8K shares

Biggest Sellers

Institution	Net Sold	Current Position
C Capital International Investors Institution	−$102.3M −261.7K shares	$346.8M 887.2K shares
Pictet Asset Management Holding SA Long Only Manager	−$76.7M −196.4K shares	$252.6M 646.3K shares
Allspring Global Investments Holdings, LLC Long Only Manager	−$55.0M −139.6K shares	$70.7M 179.4K shares
VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. Long Only Manager	−$45.4M −116.2K shares	$97.5M 249.4K shares
BANK OF AMERICA CORP /DE/ Institution	−$37.9M −97.1K shares	$293.3M 750.4K shares
WESTWOOD HOLDINGS GROUP INC Institution	−$37.8M −96.7K shares	$80.4M 205.7K shares
Liontrust Investment Partners LLP Long Only Manager	−$34.4M −88.0K shares	$112.7M 288.4K shares
AMERIPRISE FINANCIAL INC Institution	−$29.5M −75.5K shares	$67.5M 172.8K shares
VANGUARD GROUP INC Institution	−$24.3M −62.2K shares	$1.0B 2.6M shares
JPMORGAN CHASE & CO Institution	−$23.4M −59.9K shares	$24.2M 61.9K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited BLD in Q3 2025

New Positions: 33
New Value: $34.8M
Exited Positions: 39
Exited Value: $43.2M

New Positions

Institution	Position Value
ALTRINSIC GLOBAL ADVISORS LLC Long Only Manager	$9.4M 24.1K shares
Sone Capital Management, LLC Hedge Fund•Multi-Strategy	$8.3M 21.4K shares
G Genus Capital Management Inc. Institution	$4.1M 10.5K shares
H HWG Holdings LP Institution	$2.8M 7.2K shares
F FIRST NATIONAL BANK OF OMAHA Institution	$1.7M 4.3K shares
HARBOR CAPITAL ADVISORS, INC. ETF Provider	$1.6M 4.2K shares
ISAM Funds Ltd Hedge Fund•Quant	$1.2M 3.2K shares
D DRW Securities, LLC Institution	$823.4K 2.1K shares
PETRA FINANCIAL ADVISORS INC RIA/Wealth	$618.0K 1.6K shares
GRIMES & COMPANY, INC. RIA/Wealth	$572.4K 1.5K shares

Exited Positions

Institution	Previous Position
T TEXAS PERMANENT SCHOOL FUND Institution	$8.9M 27.4K shares
E EDENTREE ASSET MANAGEMENT Ltd Institution	$6.6M 20.2K shares
2 2Xideas AG Institution	$5.5M 16.9K shares
F Freestone Grove Partners LP Hedge Fund•Multi-Strategy	$4.8M 14.7K shares
C Concentric Capital Strategies, LP Hedge Fund•Long/Short	$4.7M 14.4K shares
N NATIXIS Institution	$1.7M 5.2K shares
Valmark Advisers, Inc. RIA/Wealth	$1.6M 4.9K shares
Holocene Advisors, LP Hedge Fund•Long/Short	$1.5M 4.8K shares
A AXA Institution	$1.2M 3.7K shares
LANDSCAPE CAPITAL MANAGEMENT, L.L.C. Hedge Fund•Market Neutral	$1.0M 3.1K shares

Options Activity

Institutions with the largest Call and Put options positions in BLD as of Q3 2025

Call Positions: 8
Call Value: $15.2M
Put Positions: 7
Put Value: $43.2M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$9.0M 231.0 contracts
Hudson Bay Capital Management LP Hedge Fund•Multi-Strategy	$2.7M 70.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.4M 37.0 contracts
J JANE STREET GROUP, LLC Institution	$1.3M 33.0 contracts
W WOLVERINE TRADING, LLC Institution	$471.2K 12.0 contracts
Walleye Trading LLC RIA/Wealth	$234.5K 6.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	- - contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	- - contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$32.1M 820.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$4.4M 112.0 contracts
Hudson Bay Capital Management LP Hedge Fund•Multi-Strategy	$2.7M 70.0 contracts
W WOLVERINE TRADING, LLC Institution	$2.1M 54.0 contracts
J JANE STREET GROUP, LLC Institution	$1.1M 29.0 contracts
Walleye Trading LLC RIA/Wealth	$703.5K 18.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$78.2K 2.0 contracts

Most Committed Institutions

Institutions with BLD as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
F Forge First Asset Management Inc. Institution	-	2.52% $5.3M	0.05% 13.4K shares	Q3 2025 Held for 2 months	$208.7M
Ranger Investment Management, L.P. Long Only Manager	Andrew Ferguson Hill President	1.74% $25.0M	0.23% 64.0K shares	Q4 2017 Held for 7y 11m	$1.4B
Promethos Capital, LLC Private Equity	Wilfredo Igone Rodriguez CFO	1.65% $6.0M	0.05% 15.3K shares	Q4 2023 Held for 1y 11m	$364.5M
Liontrust Investment Partners LLP Long Only Manager	John Stephen Ions CEO	1.59% $112.7M	1.03% 288.4K shares	Q3 2023 Held for 2y 2m	$7.1B
Interval Partners, LLC Hedge Fund•Long/Short	Raymond Peter Fernandez President	1.30% $61.0M	0.55% 156.1K shares	Q4 2024 Held for 11 months	$4.7B
F FIRST SABREPOINT CAPITAL MANAGEMENT LP Hedge Fund•Long/Short	George Hiland Baxter Managing Partner	1.26% $3.1M	0.03% 8.0K shares	Q2 2023 Held for 2y 5m	$247.7M
A Ausbil Investment Management Ltd Long Only Manager	Mark Gregory Knight CEO	1.26% $2.4M	0.02% 6.0K shares	Q2 2023 Held for 2y 5m	$187.5M
Seascape Capital Management RIA/Wealth	Monica Ann Mccarthy President	1.22% $3.8M	0.03% 9.6K shares	Q1 2022 Held for 3y 8m	$309.1M
D Dixon Mitchell Investment Counsel Inc. Institution	-	1.15% $32.4M	0.29% 82.8K shares	Q3 2021 Held for 4y 2m	$2.8B
PYA Waltman Capital, LLC RIA/Wealth	Jack William Waltman President	1.09% $4.1M	0.04% 10.4K shares	Q3 2024 Held for 1y 2m	$373.2M

Hedge Fund Spotlight

Discover hedge funds investing in BLD

Trium Capital LLP

Hedge Fund • Multi-Strategy

Portfolio ManagerShenan Nmn Dhanani

Portfolio Value: $254.9M
Positions: 48
Last Reported: Q3 2025

Sector Allocation

Position in TopBuild Corporation

Market Value: $1.9M
Shares Held: 4.9K
Portfolio Weight: 0.75%
Owned Since: 2024-Q1

Top Holding	Sector	Market Value	Weight
1 Mr. Cooper Group Inc. COOP	Financial - Mortgages Financial Services	$39.5M	15.48%
2 Xtrackers Harvest CSI 300 China A-Shares ASHR	ETF ETF	$32.0M	12.54%
3 KraneShares CSI China Internet KWEB	ETF ETF	$30.6M	11.99%