Standard Diversified Inc.

TPB

10% OWNER · TURNING POINT BRANDS, INC. · CIK 0000911649

FILING MIX · LIFETIME50%/50%

BUYS

SELLS

TOTAL VALUE

$43.22M

COMPANIES

ACTIVE SINCE

Apr 2020

HOLDINGS NOW

8,178,918

AVG SELL PX

$22.44

Trades · vs SPY

Loading price series…

Performance · forward returns vs SPY

2 backtested trades · 8 horizons

Forward-return performance of every backtestable P/S trade by Standard Diversified Inc., measured at 8 horizons from 7 days to 2 years. Deduped per economic event so co-filings count once. Excess return = trade return minus SPY return over the same window.

HORIZON	TRADES	WIN RATE	INSIDER RETURN	SPY RETURN	MEAN EXCESS	MEDIAN EXCESS	T-STAT
7d	2	+50.00%	+5.49%	+5.03%	+0.46%	+0.46%	—
14d	2	+0.00%	+3.36%	+2.82%	+0.54%	+0.54%	—
30d	2	+50.00%	+9.33%	+7.84%	+1.49%	+1.49%	—
60d	2	+50.00%	+17.59%	+13.28%	+4.31%	+4.31%	—
90d	2	+50.00%	+14.84%	+16.25%	-1.41%	-1.41%	—
180d	2	+50.00%	+57.39%	+25.67%	+31.72%	+31.72%	—
1y	2	+50.00%	+106.04%	+48.12%	+57.92%	+57.92%	—
2y	2	+50.00%	+27.73%	+49.06%	-21.33%	-21.33%	—

How to read this: Insider Returnis the average raw return of the filer's trades over the horizon. SPY Return is what SPY did over those same windows — reference only, not a comparison. The headline alpha number is Mean Excess = Insider − SPY; green means the filer beat SPY, red means they trailed it. Win rate is the share of individual trades where the filer beat SPY. T-statvalues above 2 mean the alpha is unlikely to be chance given the sample size. "Pending" counts trades where the horizon hasn't elapsed yet; their stats are not included in the row average.

Holdings over time

TPB · 8,178,918 shares · as of Jul 13, 2020

Trading cadence · quarterly flow

BUY ● SELL ●

2020

FLOW · 1 buys / 1 sellsCOVERAGE · 2 quarters

Form 4 filings · all activity

COMPANY	TYPE	SHARES	PRICE	VALUE	HELD AFTER	TRADE DATE	FILED
TPB TURNING POINT BRANDS, INC.	SALE	1,800,000	$22.44	$40.40M	8,178,918	Jul 13, 2020	Jul 15, 2020 ↗
TPB TURNING POINT BRANDS, INC.	PURCHASE	136,545	$20.69	$2.82M	9,978,918	Apr 7, 2020	Apr 9, 2020 ↗

Other insiders · TPB

Loading peer insiders…

About this filer

CIK 0000911649

ROLE

10% Owner

PRIMARY

TPB

COMPANIES

ACTIVE SINCE

Apr 2020

MARKETPEEL · /INSIDER/0000911649DATA · SEC EDGAR · FORM 4 · CONSOLIDATED TAPE

Standard Diversified Inc.

The morning brief, before the bell.