Baxter International
BAX
729 hedge funds and large institutions have $11.5B invested in Baxter International in 2025 Q3 according to their latest regulatory filings, with 86 funds opening new positions, 249 increasing their positions, 271 reducing their positions, and 115 closing their positions.
1.73% more ownership
Funds ownership: 96.92% → 98.65% (+1.7%)
8% less repeat investments, than reductions
Existing positions increased: 249 | Existing positions reduced: 271
5% less funds holding
Funds holding: 771 → 729 (-42)
24% less capital invested
Capital invested by funds: $15.1B → $11.5B (-$3.56B)
25% less first-time investments, than exits
New positions opened: 86 | Existing positions closed: 115
31% less call options, than puts
Call options by funds: $59.7M | Put options by funds: $86.9M
40% less funds holding in top 10
Funds holding in top 10: 5 → 3 (-2)
Top Buyers
| 1 |
Pzena Investment Management
New York
|
+$458M |
| 2 |
Fidelity Investments
Boston,
Massachusetts
|
+$266M |
| 3 |
BlackRock
New York
|
+$256M |
| 4 |
GA
Greenhaven Associates
Purchase,
New York
|
+$159M |
| 5 |
Dodge & Cox
San Francisco,
California
|
+$134M |
Top Sellers
| 1 |
Bank of New York Mellon
New York
|
-$225M |
| 2 |
T. Rowe Price Associates
Baltimore,
Maryland
|
-$216M |
| 3 |
Ameriprise
Minneapolis,
Minnesota
|
-$124M |
| 4 |
Franklin Resources
San Mateo,
California
|
-$111M |
| 5 |
Macquarie Group
Sydney, NSW 2000,
Australia
|
-$110M |
BAX Hedge Fund Activity: Q3 2025 in Review
729 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Baxter International (BAX) for Q3 2025, worth a combined $11.5B — down 24% from $15.1B a quarter earlier.
Sellers outnumbered buyers: 115 funds closed out of BAX and 86 opened new positions — a net loss of 29 holders — while 271 trimmed existing stakes and 249 added.
The largest buyer was Pzena Investment Management, adding an estimated $458M. The largest seller was Bank of New York Mellon, cutting an estimated $225M.
- 729 institutional investors held Baxter International (BAX) as of Q3 2025, down from 771 in Q2 2025.
- Funds reported $11.5B of Baxter International stock for Q3 2025, down 24% quarter-over-quarter.
- 86 funds opened new Baxter International positions in Q3 2025 and 115 closed out, a net change of -29 holders.
- The largest Baxter International buyer in Q3 2025 was Pzena Investment Management, an estimated $458M added.
- The largest Baxter International seller in Q3 2025 was Bank of New York Mellon, an estimated $225M sold.
Based on aggregated 13F filings for Q3 2025.