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Build-A-Bear
BBW

185 hedge funds and large institutions have $606M invested in Build-A-Bear in 2025 Q2 according to their latest regulatory filings, with 45 funds opening new positions, 50 increasing their positions, 66 reducing their positions, and 23 closing their positions.

New
Increased
Maintained
Reduced
Closed

96% more first-time investments, than exits

New positions opened: 45 | Existing positions closed: 23

70% more call options, than puts

Call options by funds: $8.18M | Put options by funds: $4.8M

43% more capital invested

Capital invested by funds: $425M → $606M (+$181M)

12% more funds holding

Funds holding: 165 → 185 (+20)

3.94% more ownership

Funds ownership: 85.09% → 89.03% (+3.9%)

0% more funds holding in top 10

Funds holding in top 10: 6 → 6 (0)

24% less repeat investments, than reductions

Existing positions increased: 50 | Existing positions reduced: 66

Holders
185
Holders Change
+20
Holders Change %
+12.12%
% of All Funds
2.44%
Holding in Top 10
6
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.08%
New
45
Increased
50
Reduced
66
Closed
23
Calls
$8.18M
Puts
$4.8M
Net Calls
+$3.38M
Net Calls Change
-$2.58M

Top Buyers

Rank Fund Capital Flow
1
Thrivent Financial for Lutherans
Thrivent Financial for Lutherans
Minnesota
+$31.2M
2
Citadel Advisors
Citadel Advisors
Florida
+$5.24M
3
CA
CSM Advisors
Pennsylvania
+$5.12M
4
Balyasny Asset Management
Balyasny Asset Management
Illinois
+$4.03M
5
N
Nuveen
North Carolina
+$3.89M

Top Sellers

Rank Fund Capital Flow
1
AllianceBernstein
AllianceBernstein
Tennessee
-$17.9M
2
PCI
Pacifica Capital Investments
Texas
-$3.74M
3
QC
Quantedge Capital
Singapore
-$3.24M
4
Pacer Advisors
Pacer Advisors
Pennsylvania
-$3.15M
5
LOAMU
Lombard Odier Asset Management (USA)
New York
-$2.42M
Name Holding Trade Value Shares
Change 		Change in
Stake
Millennium Management
26
Millennium Management
New York
$6.13M +$1.66M +39,323 +49%
Northern Trust
27
Northern Trust
Illinois
$5.8M -$181K -4,284 -4%
Acadian Asset Management
28
Acadian Asset Management
Massachusetts
$5.61M -$430K -10,151 -9%
MVP
29
Miller Value Partners
Florida
$5.41M +$212K +5,000 +5%
LCM
30
Landscape Capital Management
New Jersey
$5.38M +$351K +8,283 +9%
Invesco
31
Invesco
Georgia
$5.32M +$42.5K +1,003 +1%
Squarepoint
32
Squarepoint
New York
$5.08M -$1.45M -34,159 -26%
Balyasny Asset Management
33
Balyasny Asset Management
Illinois
$4.91M +$4.03M +95,182 New
Boston Partners
34
Boston Partners
Massachusetts
$4.63M +$1.35M +31,903 +55%
EI
35
EAM Investors
California
$4.46M +$3.11M +73,358 +556%
NSIM
36
North Star Investment Management
Illinois
$4.24M -$1.9M -45,000 -35%
Goldman Sachs
37
Goldman Sachs
New York
$3.71M -$502K -11,855 -14%
Barclays
38
Barclays
United Kingdom
$3.69M +$441K +10,416 +17%
Jane Street
39
Jane Street
New York
$3.32M +$520K +12,294 +24%
FG
40
Formula Growth
Quebec, Canada
$3.27M +$351K +8,299 +15%
BGIM
41
Brandywine Global Investment Management
Pennsylvania
$3.03M +$412K +9,740 +20%
Charles Schwab
42
Charles Schwab
California
$3.01M -$317K -7,490 -11%
Russell Investments Group
43
Russell Investments Group
United Kingdom
$2.79M -$172K -4,070 -7%
MC
44
Maverick Capital
Texas
$2.75M +$1.23M +28,950 +119%
Universal-Beteiligungs- und Servicegesellschaft
45
Universal-Beteiligungs- und Servicegesellschaft
Germany
$2.33M +$1.52M +35,800 +385%
TI
46
Trexquant Investment
Connecticut
$2.31M -$286K -6,754 -13%
KCM
47
Kennondale Capital Management
Virginia
$2.26M – – –
Bank of America
48
Bank of America
North Carolina
$2.22M +$1.51M +35,677 +481%
Renaissance Technologies
49
Renaissance Technologies
New York
$2.21M -$339K -8,000 -16%
BNP Paribas Financial Markets
50
BNP Paribas Financial Markets
France
$2.14M +$658K +15,548 +60%
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BBW Hedge Fund Activity: Q2 2025 in Review

185 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Build-A-Bear (BBW) for Q2 2025, worth a combined $606M — up 43% from $425M a quarter earlier.

Buyers outnumbered sellers: 45 funds opened new BBW positions and 23 closed out — a net gain of 22 holders — while 50 added to existing stakes and 66 trimmed.

The largest buyer was Thrivent Financial for Lutherans, adding an estimated $31.2M. The largest seller was AllianceBernstein, cutting an estimated $17.9M.

  • 185 institutional investors held Build-A-Bear (BBW) as of Q2 2025, up from 165 in Q1 2025.
  • Funds reported $606M of Build-A-Bear stock for Q2 2025, up 43% quarter-over-quarter.
  • 45 funds opened new Build-A-Bear positions in Q2 2025 and 23 closed out, a net change of +22 holders.
  • The largest Build-A-Bear buyer in Q2 2025 was Thrivent Financial for Lutherans, an estimated $31.2M added.
  • The largest Build-A-Bear seller in Q2 2025 was AllianceBernstein, an estimated $17.9M sold.

Based on aggregated 13F filings for Q2 2025.