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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
DSCM
1
Divisadero Street Capital Management
Florida
$76.7M +$66.2M +1,216,722 +3,527%
PCI
2
Pacifica Capital Investments
Texas
$62.1M -$19.3K -355 -0%
BlackRock
3
BlackRock
New York
$59.2M +$881K +16,189 +2%
Thrivent Financial for Lutherans
4
Thrivent Financial for Lutherans
Minnesota
$55.8M -$386K -7,090 -0.8%
Vanguard Group
5
Vanguard Group
Pennsylvania
$51.7M -$4.17M -76,693 -8%
DLP
6
De Lisle Partners
United Kingdom
$46.9M
Fuller & Thaler Asset Management
7
Fuller & Thaler Asset Management
California
$37.5M +$21.3M +392,039 +178%
American Century Companies
8
American Century Companies
Missouri
$33.6M +$655K +12,036 +2%
State Street
9
State Street
Massachusetts
$24.1M +$4.67M +85,871 +28%
T. Rowe Price Associates
10
T. Rowe Price Associates
Maryland
$23M +$11.5M +211,145 +129%
Dimensional Fund Advisors
11
Dimensional Fund Advisors
Texas
$21.9M -$222K -4,078 -1%
Goldman Sachs
12
Goldman Sachs
New York
$21.2M +$11.7M +215,879 +166%
Arrowstreet Capital
13
Arrowstreet Capital
Massachusetts
$21M +$1.88M +34,614 +11%
Geode Capital Management
14
Geode Capital Management
Massachusetts
$19.6M +$108K +1,994 +0.6%
PLC
15
Pillsbury Lake Capital
California
$12.9M +$11.4M +210,334 New
OC
16
Oppenheimer & Close
New York
$11.4M
PRCP
17
Pacific Ridge Capital Partners
Oregon
$10.2M +$441K +8,102 +5%
LSV Asset Management
18
LSV Asset Management
Illinois
$9.41M -$54.4K -1,000 -0.6%
CAM
19
Crown Advisors Management
California
$9.19M
MIM
20
Meros Investment Management
Texas
$9M +$8M +146,956 New
Morgan Stanley
21
Morgan Stanley
New York
$8.5M -$14.7M -269,400 -66%
OAM
22
Oberweis Asset Management
Illinois
$8.22M +$2.31M +42,500 +46%
Bank of New York Mellon
23
Bank of New York Mellon
New York
$7.82M -$2.89M -53,127 -29%
Charles Schwab
24
Charles Schwab
California
$7.56M -$163K -2,995 -2%
N
25
Nuveen
North Carolina
$7.45M -$4.3M -79,010 -39%

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.