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Build-A-Bear

192 hedge funds and large institutions have $821M invested in Build-A-Bear in 2025 Q4 according to their latest regulatory filings, with 27 funds opening new positions, 57 increasing their positions, 75 reducing their positions, and 39 closing their positions.

New
Increased
Maintained
Reduced
Closed

183% more call options, than puts

Call options by funds: $23.8M | Put options by funds: $8.38M

50% more funds holding in top 10

Funds holding in top 10: 69 (+3)

10.22% more ownership

Funds ownership: 93.34%103.56% (+10%)

3% more capital invested

Capital invested by funds: $798M → $821M (+$22.9M)

7% less funds holding

Funds holding: 207192 (-15)

24% less repeat investments, than reductions

Existing positions increased: 57 | Existing positions reduced: 75

31% less first-time investments, than exits

New positions opened: 27 | Existing positions closed: 39

Holders
192
Holders Change
-15
Holders Change %
-7.25%
% of All Funds
2.33%
Holding in Top 10
9
Holding in Top 10 Change
+3
Holding in Top 10 Change %
+50%
% of All Funds
0.11%
New
27
Increased
57
Reduced
75
Closed
39
Calls
$23.8M
Puts
$8.38M
Net Calls
+$15.4M
Net Calls Change
-$5.98M
Name Holding Trade Value Shares
Change
Change in
Stake
HIM
26
Hillsdale Investment Management
Ontario, Canada
$7.26M -$375K -6,900 -6%
Bank of America
27
Bank of America
North Carolina
$7.17M +$2.84M +52,199 +81%
UIC
28
Uniplan Investment Counsel
Wisconsin
$7.01M +$1.05M +19,308 +20%
Boston Partners
29
Boston Partners
Massachusetts
$6.72M +$474K +8,716 +9%
CA
30
CSM Advisors
Pennsylvania
$6.7M +$233K +4,289 +4%
JFG
31
Jefferies Financial Group
New York
$6.59M +$5.85M +107,497 New
Northern Trust
32
Northern Trust
Illinois
$6.43M -$333K -6,121 -6%
BNP Paribas Financial Markets
33
BNP Paribas Financial Markets
France
$6.38M +$2.81M +51,712 +99%
Millennium Management
34
Millennium Management
New York
$5.16M +$10.4K +191 +0.2%
MVP
35
Miller Value Partners
Florida
$4.78M -$1.09M -20,000 -20%
CC
36
Cannell Capital
Wyoming
$4.74M +$1.49M +27,457 +55%
NSIM
37
North Star Investment Management
Illinois
$4.25M -$653K -12,000 -15%
PCM
38
Prelude Capital Management
New York
$4.22M +$3.75M +68,878 New
KCM
39
Kennondale Capital Management
Virginia
$4.09M +$730K +13,411 +25%
Invesco
40
Invesco
Georgia
$4.02M -$1.53M -28,153 -30%
Qube Research & Technologies (QRT)
41
Qube Research & Technologies (QRT)
United Kingdom
$3.88M -$11.3M -208,179 -77%
UBS Group
42
UBS Group
Switzerland
$3.47M -$865K -15,890 -22%
HRCM
43
Hood River Capital Management
Florida
$3.23M -$41K -754 -1%
Acadian Asset Management
44
Acadian Asset Management
Massachusetts
$2.95M -$7.42M -136,447 -74%
Universal-Beteiligungs- und Servicegesellschaft
45
Universal-Beteiligungs- und Servicegesellschaft
Germany
$2.76M -$55.2K -1,015 -2%
FG
46
Formula Growth
Quebec, Canada
$2.69M -$1.65M -30,354 -41%
Victory Capital Management
47
Victory Capital Management
Texas
$2.61M +$363K +6,669 +19%
First Trust Advisors
48
First Trust Advisors
Illinois
$2.34M +$25.8K +475 +1%
BFM
49
Boothbay Fund Management
New York
$2.11M +$1.88M +34,463 New
OSAM
50
O'Shaughnessy Asset Management
Connecticut
$2.05M -$306K -5,627 -14%

BBW Hedge Fund Activity: Q4 2025 in Review

192 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Build-A-Bear (BBW) for Q4 2025, worth a combined $821M — up 2.9% from $798M a quarter earlier.

Sellers outnumbered buyers: 39 funds closed out of BBW and 27 opened new positions — a net loss of 12 holders — while 75 trimmed existing stakes and 57 added.

The largest buyer was Divisadero Street Capital Management, adding an estimated $66.2M. The largest seller was Morgan Stanley, cutting an estimated $14.7M.

  • 192 institutional investors held Build-A-Bear (BBW) as of Q4 2025, down from 207 in Q3 2025.
  • Funds reported $821M of Build-A-Bear stock for Q4 2025, up 2.9% quarter-over-quarter.
  • 27 funds opened new Build-A-Bear positions in Q4 2025 and 39 closed out, a net change of -12 holders.
  • The largest Build-A-Bear buyer in Q4 2025 was Divisadero Street Capital Management, an estimated $66.2M added.
  • The largest Build-A-Bear seller in Q4 2025 was Morgan Stanley, an estimated $14.7M sold.

Based on aggregated 13F filings for Q4 2025.