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Bread Financial
BFH

501 hedge funds and large institutions have $13.9B invested in Bread Financial in 2017 Q1 according to their latest regulatory filings, with 44 funds opening new positions, 160 increasing their positions, 215 reducing their positions, and 62 closing their positions.

New
Increased
Maintained
Reduced
Closed

10% more capital invested

Capital invested by funds: $12.7B → $13.9B (+$1.28B)

5.22% more ownership

Funds ownership: 120.27% → 125.49% (+5.2%)

0% more funds holding in top 10

Funds holding in top 10: 17 → 17 (0)

5% less funds holding

Funds holding: 526 → 501 (-25)

26% less repeat investments, than reductions

Existing positions increased: 160 | Existing positions reduced: 215

29% less first-time investments, than exits

New positions opened: 44 | Existing positions closed: 62

65% less call options, than puts

Call options by funds: $29.9M | Put options by funds: $85.3M

Holders
501
Holders Change
-25
Holders Change %
-4.75%
% of All Funds
12.47%
Holding in Top 10
17
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.42%
New
44
Increased
160
Reduced
215
Closed
62
Calls
$29.9M
Puts
$85.3M
Net Calls
-$55.4M
Net Calls Change
+$75M

Top Buyers

1
BlackRock
BlackRock
New York
+$766M
2
VH
ValueAct Holdings
California
+$150M
3
Thrivent Financial for Lutherans
Thrivent Financial for Lutherans
Minnesota
+$142M
4
Barclays
Barclays
United Kingdom
+$123M
5
Morgan Stanley
Morgan Stanley
New York
+$103M

Top Sellers

1
Ninety One (UK)
Ninety One (UK)
United Kingdom
-$185M
2
Citadel Advisors
Citadel Advisors
Florida
-$106M
3
Fidelity Investments
Fidelity Investments
Massachusetts
-$98.9M
4
Boston Partners
Boston Partners
Massachusetts
-$79.7M
5
Caisse de Depot et Placement du Quebec (CDPQ)
Caisse de Depot et Placement du Quebec (CDPQ)
Quebec, Canada
-$66.7M
Name Holding Trade Value Shares
Change 		Change in
Stake
VH
1
ValueAct Holdings
California
$1.46B +$150M +790,517 +12%
Vanguard Group
2
Vanguard Group
Pennsylvania
$1.32B +$22.6M +119,654 +2%
BlackRock
3
BlackRock
New York
$830M +$766M +4,048,108 +3,103%
Wellington Management Group
4
Wellington Management Group
Massachusetts
$793M +$20.6M +108,703 +3%
Edgewood Management
5
Edgewood Management
Connecticut
$678M +$26M +137,230 +4%
State Street
6
State Street
Massachusetts
$571M -$7.45M -39,366 -1%
Fidelity Investments
7
Fidelity Investments
Massachusetts
$467M -$98.9M -523,016 -18%
WRF
8
Waddell & Reed Financial
Kansas
$406M -$6.42M -33,956 -2%
American Century Companies
9
American Century Companies
Missouri
$369M -$20.3M -107,321 -5%
Thrivent Financial for Lutherans
10
Thrivent Financial for Lutherans
Minnesota
$276M +$142M +749,545 +117%
Northern Trust
11
Northern Trust
Illinois
$231M -$8.75M -46,225 -4%
Deutsche Bank
12
Deutsche Bank
Germany
$213M +$32.2M +170,355 +19%
Barclays
13
Barclays
United Kingdom
$207M +$123M +648,307 +165%
OAC
14
OMERS Administration Corp
Ontario, Canada
$177M +$63.4M +334,988 +60%
Morgan Stanley
15
Morgan Stanley
New York
$172M +$103M +547,047 +173%
TCM
16
TimesSquare Capital Management
New York
$164M -$49M -259,239 -24%
Parnassus Investments
17
Parnassus Investments
California
$156M +$21.3M +112,770 +17%
RL
18
Ruffer LLP
United Kingdom
$143M -$5.52M -29,152 -4%
Boston Partners
19
Boston Partners
Massachusetts
$142M -$79.7M -421,065 -37%
SGA
20
Sustainable Growth Advisers
Connecticut
$140M +$5.86M +30,950 +5%
Geode Capital Management
21
Geode Capital Management
Massachusetts
$134M +$7.19M +38,024 +6%
Bank of New York Mellon
22
Bank of New York Mellon
New York
$132M -$4.95M -26,188 -4%
Norges Bank
23
Norges Bank
Norway
$130M +$41.3M +218,139 +50%
Bank of Montreal
24
Bank of Montreal
Ontario, Canada
$117M +$11.6M +61,238 +12%
CB
25
Cooke & Bieler
Pennsylvania
$108M -$1.53M -8,064 -1%
1
2 3 4 5

BFH Hedge Fund Activity: Q1 2017 in Review

501 of the 4,017 institutional investors tracked by Wall St. Rank reported a position in Bread Financial (BFH) for Q1 2017, worth a combined $13.9B — up 10% from $12.7B a quarter earlier.

Sellers outnumbered buyers: 62 funds closed out of BFH and 44 opened new positions — a net loss of 18 holders — while 215 trimmed existing stakes and 160 added.

The largest buyer was BlackRock, adding an estimated $766M. The largest seller was Ninety One (UK), exiting entirely with an estimated $185M sold.

  • 501 institutional investors held Bread Financial (BFH) as of Q1 2017, down from 526 in Q4 2016.
  • Funds reported $13.9B of Bread Financial stock for Q1 2017, up 10% quarter-over-quarter.
  • 44 funds opened new Bread Financial positions in Q1 2017 and 62 closed out, a net change of -18 holders.
  • The largest Bread Financial buyer in Q1 2017 was BlackRock, an estimated $766M added.
  • The largest Bread Financial seller in Q1 2017 was Ninety One (UK), an estimated $185M sold.

Based on aggregated 13F filings for Q1 2017.