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Bread Financial
BFH

505 hedge funds and large institutions have $11.7B invested in Bread Financial in 2016 Q3 according to their latest regulatory filings, with 65 funds opening new positions, 172 increasing their positions, 180 reducing their positions, and 66 closing their positions.

New
Increased
Maintained
Reduced
Closed

11% more capital invested

Capital invested by funds: $10.6B → $11.7B (+$1.14B)

2.76% more ownership

Funds ownership: 115.21% → 117.97% (+2.8%)

2% less first-time investments, than exits

New positions opened: 65 | Existing positions closed: 66

4% less repeat investments, than reductions

Existing positions increased: 172 | Existing positions reduced: 180

1% less funds holding

Funds holding: 511 → 505 (-6)

6% less funds holding in top 10

Funds holding in top 10: 18 → 17 (-1)

66% less call options, than puts

Call options by funds: $41.3M | Put options by funds: $122M

Holders
505
Holders Change
-6
Holders Change %
-1.17%
% of All Funds
13.47%
Holding in Top 10
17
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-5.56%
% of All Funds
0.45%
New
65
Increased
172
Reduced
180
Closed
66
Calls
$41.3M
Puts
$122M
Net Calls
-$80.7M
Net Calls Change
+$8.45M

Top Buyers

Rank Fund Capital Flow
1
VH
ValueAct Holdings
California
+$365M
2
SGA
Sustainable Growth Advisers
Connecticut
+$109M
3
WHG
Westwood Holdings Group
Texas
+$75.2M
4
Barclays
Barclays
United Kingdom
+$50.7M
5
Boston Partners
Boston Partners
Massachusetts
+$42.3M

Top Sellers

Rank Fund Capital Flow
1
JP
Jana Partners
New York
-$132M
2
Millennium Management
Millennium Management
New York
-$111M
3
Fidelity Investments
Fidelity Investments
Massachusetts
-$87.6M
4
NMIMC
Northwestern Mutual Investment Management Company
Wisconsin
-$47.9M
5
JP Morgan Chase
JP Morgan Chase
New York
-$40.1M
Name Holding Trade Value Shares
Change 		Change in
Stake
VCM
501
Versant Capital Management
Arizona
$1K – – –
GWS
502
Glassman Wealth Services
Virginia
$1K +$681 +4 New
TFO
503
Tarbox Family Office
California
$1K +$681 +4 +100%
PIA
504
Piedmont Investment Advisors
North Carolina
$214 – – –
SBL
505
Sargent Bickham Lagudis
Colorado
$31 – – –
JP
506
Jana Partners
New York
– -$132M -846,291 Closed
UOC
507
UBS O'Connor
Illinois
– -$33.8M -216,026 Closed
Point72 Asset Management
508
Point72 Asset Management
Connecticut
– -$31.1M -198,976 Closed
GA
509
Glenhill Advisors
New York
– -$21.1M -134,993 Closed
CC
510
Carlson Capital
Texas
– -$9.41M -60,175 Closed
AIM
511
abrdn Investment Management
United Kingdom
– -$6.31M -40,374 Closed
QIM
512
Quest Investment Management
Oregon
– -$6.03M -38,567 Closed
OA
513
Oxbow Advisors
Texas
– -$5.47M -34,975 Closed
RSS
514
Rosenblum Silverman Sutton
California
– -$4.27M -27,294 Closed
Arrowstreet Capital
515
Arrowstreet Capital
Massachusetts
– -$4.04M -25,812 Closed
PCM
516
Portolan Capital Management
Massachusetts
– -$3.14M -20,059 Closed
DAM
517
Deimos Asset Management
New York
– -$2.55M -16,289 Closed
Twin Tree Management
518
Twin Tree Management
Texas
– -$2.21M -14,161 Closed
JG
519
Jefferies Group
New York
– -$1.42M -9,092 Closed
PCM
520
Penn Capital Management
Pennsylvania
– -$1.44M -8,983 Closed
SSA
521
Schonfeld Strategic Advisors
New York
– -$1.27M -8,136 Closed
CC
522
Cipher Capital
New York
– -$1.27M -8,103 Closed
QC
523
Quadrature Capital
United Kingdom
– -$1.19M -7,606 Closed
PC
524
Passport Capital
California
– -$1.12M -7,152 Closed
HCM
525
Hodges Capital Management
Texas
– -$1.93M -7,092 Closed
19 20
21
22 23

BFH Hedge Fund Activity: Q3 2016 in Review

505 of the 3,748 institutional investors tracked by Wall St. Rank reported a position in Bread Financial (BFH) for Q3 2016, worth a combined $11.7B — up 11% from $10.6B a quarter earlier.

Sellers outnumbered buyers: 66 funds closed out of BFH and 65 opened new positions — a net loss of 1 holder — while 180 trimmed existing stakes and 172 added.

The largest buyer was ValueAct Holdings, adding an estimated $365M. The largest seller was Jana Partners, exiting entirely with an estimated $132M sold.

  • 505 institutional investors held Bread Financial (BFH) as of Q3 2016, down from 511 in Q2 2016.
  • Funds reported $11.7B of Bread Financial stock for Q3 2016, up 11% quarter-over-quarter.
  • 65 funds opened new Bread Financial positions in Q3 2016 and 66 closed out, a net change of -1 holder.
  • The largest Bread Financial buyer in Q3 2016 was ValueAct Holdings, an estimated $365M added.
  • The largest Bread Financial seller in Q3 2016 was Jana Partners, an estimated $132M sold.

Based on aggregated 13F filings for Q3 2016.