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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
SAM
151
Smartleaf Asset Management
Massachusetts
$14.7K +$12.8K +235 +2,350%
ST
152
Smithfield Trust
Pennsylvania
$13K
LFG
153
Larson Financial Group
Missouri
$10.2K -$20.5K -376 -69%
PFBT
154
Parkside Financial Bank & Trust
Missouri
$9.2K +$1.74K +32 +27%
CIAM
155
Caitong International Asset Management
Hong Kong
$8.7K -$5.77K -106 -43%
Comerica Bank
156
Comerica Bank
Texas
$8.46K +$2.94K +54 +64%
FFO
157
Fortitude Family Office
Arizona
$7.9K -$1.74K -32 -20%
ME
158
McIlrath & Eck
Washington
$7.84K
FFA
159
Farther Finance Advisors
California
$7.81K +$1.25K +23 +22%
HIA
160
Harbor Investment Advisory
Maryland
$7.35K
HCA
161
Harbor Capital Advisors
Illinois
$6K -$109 -2 -2%
NL
162
NVWM LLC
Pennsylvania
$5.39K +$4.79K +88 New
LI
163
LRI Investments
Florida
$5.25K +$54 +1 +1%
SCM
164
Sterling Capital Management
North Carolina
$5.15K +$2.94K +54 +180%
Optiver Holding
165
Optiver Holding
Netherlands
$4.47K -$1.47K -27 -27%
AS
166
Altshuler Shaham
Israel
$4.35K +$54 +1 +1%
CFD
167
Creative Financial Designs
Indiana
$4.3K
TM
168
Torren Management
California
$3.98K +$3.54K +65 New
SS
169
SBI Securities
Japan
$3.92K -$2.01K -37 -37%
Northwestern Mutual Wealth Management
170
Northwestern Mutual Wealth Management
Wisconsin
$3.92K +$3.48K +64 New
AAP
171
Arax Advisory Partners
Colorado
$3.25K -$2.72K -50 -49%
UBS AM
172
UBS AM
Illinois
$3.13K +$2.77K +51 New
SIS
173
Strategic Investment Solutions
Illinois
$3.06K
Walleye Trading
174
Walleye Trading
New York
$2.45K -$32.2K -592 -94%
MO
175
McMillan Office
Michigan
$2.45K +$2.18K +40 New

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.