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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
PA
126
Parallel Advisors
California
$81.5K
Simplex Trading
127
Simplex Trading
Illinois
$79.3K +$70.5K +1,295 New
Osaic Holdings
128
Osaic Holdings
Arizona
$72.5K +$12.6K +232 +24%
New York State Teachers Retirement System (NYSTRS)
129
New York State Teachers Retirement System (NYSTRS)
New York
$71K
TPCW
130
TD Private Client Wealth
New York
$66.4K +$42.8K +786 +264%
CA
131
Clearstead Advisors
Ohio
$66.1K +$36.2K +665 +161%
AIP
132
Ameritas Investment Partners
Nebraska
$63.7K
Royal Bank of Canada
133
Royal Bank of Canada
Ontario, Canada
$63K -$122K -2,235 -69%
MIM
134
MTM Investment Management
South Carolina
$61.3K
QCG
135
Quadrant Capital Group
Ohio
$58.8K -$381 -7 -0.7%
California State Teachers Retirement System (CalSTRS)
136
California State Teachers Retirement System (CalSTRS)
California
$46.9K -$544 -10 -1%
IA
137
IFP Advisors
Florida
$44.7K +$4.9K +90 +14%
Jones Financial Companies
138
Jones Financial Companies
Missouri
$43.5K -$4.9K -90 -11%
BTI
139
Blue Trust Inc
Georgia
$40.9K +$22.5K +414 +163%
KAS
140
Kestra Advisory Services
Texas
$28.3K +$25.1K +462 New
W
141
WealthCollab
Washington
$25.6K
Carson Wealth (CWM LLC)
142
Carson Wealth (CWM LLC)
Nebraska
$25K -$4.41K -81 -16%
DT
143
DV Trading
Illinois
$24.5K +$21.8K +400 New
AB
144
Amalgamated Bank
New York
$24K -$5.5K -101 -21%
VCM
145
Versant Capital Management
Arizona
$21.7K
C
146
Covestor
United Kingdom
$21K -$18.4K -339 -50%
GI
147
GAMMA Investing
California
$19.6K +$1.09K +20 +7%
TWM
148
Tripletail Wealth Management
Florida
$19.2K
EWA
149
EverSource Wealth Advisors
Alabama
$19.1K -$4.13K -76 -20%
A
150
AlphaQuest
New York
$17K +$9.96K +183 +195%

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.