Build-A-Bear
BBW
172 hedge funds and large institutions have $391M invested in Build-A-Bear in 2026 Q2 according to their latest regulatory filings, with 24 funds opening new positions, 64 increasing their positions, 44 reducing their positions, and 28 closing their positions.
45% more repeat investments, than reductions
Existing positions increased: 64 | Existing positions reduced: 44
3.06% more ownership
Funds ownership: 98.81% → 101.87% (+3.1%)
4% less funds holding
Funds holding: 180 → 172 (-8)
14% less first-time investments, than exits
New positions opened: 24 | Existing positions closed: 28
18% less capital invested
Capital invested by funds: $479M → $391M (-$88.1M)
49% less call options, than puts
Call options by funds: $3.19M | Put options by funds: $6.24M
50% less funds holding in top 10
Funds holding in top 10: 4 → 2 (-2)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PCMI
Paradigm Capital Management Inc
Albany,
New York
|
+$35.3M |
| 2 |
T. Rowe Price Associates
Baltimore,
Maryland
|
+$10.1M |
| 3 |
Goldman Sachs
New York
|
+$4.41M |
| 4 |
PCI
Pacifica Capital Investments
Leander,
Texas
|
+$3.77M |
| 5 |
BlackRock
New York
|
+$2.7M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
DSCM
Divisadero Street Capital Management
Miami,
Florida
|
-$29.2M |
| 2 |
Thrivent Financial for Lutherans
Minneapolis,
Minnesota
|
-$23.8M |
| 3 |
Millennium Management
New York
|
-$8M |
| 4 |
JFG
Jefferies Financial Group
New York
|
-$5.9M |
| 5 |
MIM
Meros Investment Management
Dallas,
Texas
|
-$5.7M |
BBW Hedge Fund Activity: Q2 2026 in Review
172 of the 8,305 institutional investors tracked by Wall St. Rank reported a position in Build-A-Bear (BBW) for Q2 2026, worth a combined $391M — down 18% from $479M a quarter earlier.
Sellers outnumbered buyers: 28 funds closed out of BBW and 24 opened new positions — a net loss of 4 holders — while 44 trimmed existing stakes and 64 added.
The largest buyer was Paradigm Capital Management Inc, opening a new position worth an estimated $35.3M. The largest seller was Divisadero Street Capital Management, cutting an estimated $29.2M.
- 172 institutional investors held Build-A-Bear (BBW) as of Q2 2026, down from 180 in Q1 2026.
- Funds reported $391M of Build-A-Bear stock for Q2 2026, down 18% quarter-over-quarter.
- 24 funds opened new Build-A-Bear positions in Q2 2026 and 28 closed out, a net change of -4 holders.
- The largest Build-A-Bear buyer in Q2 2026 was Paradigm Capital Management Inc, an estimated $35.3M added.
- The largest Build-A-Bear seller in Q2 2026 was Divisadero Street Capital Management, an estimated $29.2M sold.
Based on aggregated 13F filings for Q2 2026.