Bread Financial Holdings

BFH • NYSE

Bread Financial Holdings is a financial - credit services company in the financial services sector on NYSE, led by Ralph J. Andretta, with a market cap of $3.4B. As of Q3 2025, 104% of shares are held by 337 institutional investors, with VANGUARD GROUP INC as the largest holder at 11.31%.

CEORalph J. Andretta

Market Cap$3.4B

Financial - Credit Services

Financial Services

Employees7.0K

Websitebreadfinancial.com

Country

United States of America

Overview

Overview of institutional ownership in BFH as of Q3 2025 with a market cap of $2.6B

All Institutions

Institutions: 337
Value Held: $2.7B
Shares Held: 48.4M
Avg Position: $8.0M
Median Position: $712.7K

Hedge Funds

Hedge Funds: 41
Value Held: $285.9M
Shares Held: 5.1M
Avg Position: $7.0M
Median Position: $2.3M

Ownership Breakdown

Institutional (non-HF)

92.81%

$2.4B

Hedge Funds

10.99%

$285.9M

Retail & Other

Based on market cap of $2.6B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in BFH as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$294.1M 0.00% of portfolio	11.31% 5.3M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
B BlackRock, Inc. Institution	-	$252.7M 0.00% of portfolio	9.72% 4.5M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
T Turtle Creek Asset Management Inc. Institution	-	$183.1M 5.53% of portfolio	7.04% 3.3M shares	Q2 2017 Held for 8y 5m	$3.3B
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$171.6M 0.04% of portfolio	6.59% 3.1M shares	≤ Q2 2013 Held for 12y 5m+	$466.32B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$103.5M 0.00% of portfolio	3.98% 1.9M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
FRANKLIN RESOURCES INC Institution	Gregory E. Johnson CEO	$96.5M 0.02% of portfolio	3.71% 1.7M shares	Q1 2021 Held for 4y 8m	$395.36B
A AMERICAN CENTURY COMPANIES INC Institution	-	$86.8M 0.04% of portfolio	3.34% 1.6M shares	Q4 2020 Held for 4y 11m	$195.93B
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	Anthony Ryan CEO	$66.3M 0.04% of portfolio	2.55% 1.2M shares	Q2 2018 Held for 7y 5m	$158.92B
GOLDMAN SACHS GROUP INC Institution	David M. Solomon CEO	$65.5M 0.01% of portfolio	2.52% 1.2M shares	≤ Q2 2013 Held for 12y 5m+	$691.34B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$63.9M 0.00% of portfolio	2.46% 1.1M shares	≤ Q2 2013 Held for 12y 5m+	$1.57T

Net Capital Flow

Institutional buying and selling activity for BFH in Q3 2025

Traded: +$24.6M
Buyers: 169
Sellers: 156
Total Bought: +$213.6M
Total Sold: −$189.0M
Avg Position: $7.1M

Biggest Buyers

Institution	Net Bought	Current Position
A Allianz Asset Management AG Institution	+$16.2M +290.8K shares	$52.6M 943.7K shares
Hudson Bay Capital Management LP Hedge Fund•Multi-Strategy	+$14.1M +252.6K shares	$14.1M 252.6K shares
Trexquant Investment LP Hedge Fund•Quant	+$13.7M +246.5K shares	$13.7M 246.5K shares
GOLDMAN SACHS GROUP INC Institution	+$13.7M +245.3K shares	$65.5M 1.2M shares
Q Qube Research & Technologies Ltd Institution	+$12.2M +219.5K shares	$15.3M 275.0K shares
C Capula Management Ltd Institution	+$11.2M +200.0K shares	$11.2M 200.0K shares
$DEUTSCHE BANK AG\ logo$ DEUTSCHE BANK AG\ Institution	+$10.0M +179.8K shares	$46.0M 825.1K shares
J JANE STREET GROUP, LLC Institution	+$8.4M +149.9K shares	$11.0M 196.8K shares
Marshall Wace LLP Institution	+$7.6M +136.2K shares	$8.4M 151.1K shares
Hillsdale Investment Management Inc. Long Only Manager	+$6.5M +117.4K shares	$6.5M 117.4K shares

Biggest Sellers

Institution	Net Sold	Current Position
T Turtle Creek Asset Management Inc. Institution	−$17.3M −311.1K shares	$183.1M 3.3M shares
MORGAN STANLEY RIA/Wealth	−$12.2M −218.5K shares	$38.7M 694.5K shares
Invesco Ltd. ETF Provider	−$11.5M −205.8K shares	$16.2M 289.8K shares
H HSBC HOLDINGS PLC Institution	−$9.9M −177.1K shares	$44.7M 801.9K shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	−$9.1M −163.7K shares	$49.3M 883.2K shares
JUPITER ASSET MANAGEMENT LTD Long Only Manager	−$8.9M −159.3K shares	$7.7M 138.7K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$7.3M −131.5K shares	$11.8M 211.0K shares
A AXA Institution	−$7.1M −124.1K shares	Sold Off 0 shares
Schonfeld Strategic Advisors LLC Hedge Fund•Multi-Strategy	−$5.7M −102.6K shares	$2.0M 35.0K shares
R ROYAL BANK OF CANADA Institution	−$5.4M −97.4K shares	$10.3M 184.6K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited BFH in Q3 2025

New Positions: 15
New Value: $1.6M
Exited Positions: 43
Exited Value: $32.4M

New Positions

Institution	Position Value
F Farringdon Capital, Ltd. Institution	$605.6K 10.9K shares
C CAXTON ASSOCIATES LLP Institution	$390.0K 7.0K shares
P PharVision Advisers, LLC Hedge Fund•Long/Short	$301.0K 5.4K shares
C Calamos Wealth Management LLC RIA/Wealth	$272.7K 4.9K shares
R Root Financial Partners, LLC RIA/Wealth	$5.7K 103.0 shares
O Optiver Holding B.V. Institution	$2.7K 48.0 shares
H Hilltop National Bank Institution	$2.2K 40.0 shares
Guerra Advisors Inc RIA/Wealth	$1.7K 30.0 shares
Hartland & Co., LLC RIA/Wealth	$1.2K 21.0 shares
R Retirement Wealth Solutions LLC RIA/Wealth	$1.1K 20.0 shares

Exited Positions

Institution	Previous Position
A AXA Institution	$7.1M 124.1K shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	$4.3M 75.3K shares
Cinctive Capital Management LP Hedge Fund•Multi-Strategy	$2.8M 49.2K shares
T TEXAS PERMANENT SCHOOL FUND Institution	$2.0M 35.2K shares
Jackson Creek Investment Advisors LLC Long Only Manager	$1.9M 33.0K shares
C Campbell & CO Investment Adviser LLC Hedge Fund•Quant Macro	$1.7M 30.0K shares
Anderson Financial Strategies, LLC RIA/Wealth	$1.6M 27.6K shares
SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC Hedge Fund•Distressed	$1.4M 23.8K shares
Aquatic Capital Management LLC Hedge Fund•Quant	$1.3M 23.5K shares
Graham Capital Management, L.P. Hedge Fund•Multi-Strategy	$978.6K 17.1K shares

Options Activity

Institutions with the largest Call and Put options positions in BFH as of Q3 2025

Call Positions: 8
Call Value: $8.2M
Put Positions: 8
Put Value: $21.4M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$2.8M 496.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.2M 396.0 contracts
J JANE STREET GROUP, LLC Institution	$1.6M 287.0 contracts
P PEAK6 LLC Institution	$847.7K 152.0 contracts
Walleye Trading LLC RIA/Wealth	$580.0K 104.0 contracts
W WOLVERINE TRADING, LLC Institution	$203.2K 35.0 contracts
Interval Partners, LLC Hedge Fund•Long/Short	- - contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	- - contracts

Put Positions

Institution	Position Value
C Capula Management Ltd Institution	$11.2M 2.0K contracts
Interval Partners, LLC Hedge Fund•Long/Short	$3.5M 635.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$2.8M 494.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.5M 445.0 contracts
$DEUTSCHE BANK AG\ logo$ DEUTSCHE BANK AG\ Institution	$858.9K 154.0 contracts
J JANE STREET GROUP, LLC Institution	$423.9K 76.0 contracts
Walleye Trading LLC RIA/Wealth	$206.3K 37.0 contracts
Caption Management, LLC Hedge Fund•Long/Short	- - contracts

Most Committed Institutions

Institutions with BFH as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
BROOKTREE CAPITAL MANAGEMENT RIA/Wealth	Brian Robert Ellis President	5.82% $9.2M	0.35% 164.1K shares	Q4 2019 Held for 5y 11m	$157.4M
LMM LLC Long Only Manager	William Herbert Miller Chairman	5.53% $15.1M	0.58% 270.0K shares	Q2 2023 Held for 2y 5m	$272.2M
T Turtle Creek Asset Management Inc. Institution	-	5.53% $183.1M	7.04% 3.3M shares	Q2 2017 Held for 8y 5m	$3.3B
F Factorial Partners, LLC Hedge Fund•Value	Mark Philip Kleiman Managing Partner	1.41% $2.0M	0.08% 35.0K shares	Q1 2024 Held for 1y 8m	$138.3M
B BASSWOOD CAPITAL MANAGEMENT, L.L.C. Hedge Fund•Long/Short	Bennett David Lindenbaum Managing Partner	0.88% $19.1M	0.73% 341.7K shares	Q1 2025 Held for 8 months	$2.2B
CASTLEKEEP INVESTMENT ADVISORS LLC RIA/Wealth	Charles Wesley Kelakos Haberstroh CEO	0.82% $1.7M	0.07% 30.8K shares	Q4 2024 Held for 11 months	$210.3M
M Mork Capital Management Institution	-	0.78% $1.1M	0.04% 20.4K shares	Q1 2016 Held for 9y 8m	$145.1M
Cambria Investment Management, L.P. ETF Provider	Mebane Thadley Faber CEO	0.54% $9.3M	0.36% 167.4K shares	Q2 2024 Held for 1y 5m	$1.7B
Nierenberg Investment Management Company, Inc. Hedge Fund•Value	Damon Laughlin Benedict President	0.47% $857.7K	0.03% 15.4K shares	Q1 2022 Held for 3y 8m	$180.9M
Bayforest Capital Ltd Hedge Fund•Quant	Theodoros Tsagaris CEO	0.46% $971.8K	0.04% 17.4K shares	Q4 2024 Held for 11 months	$209.9M

Hedge Fund Spotlight

Discover hedge funds investing in BFH

Engineers Gate Manager LP

Hedge Fund • Quant

Portfolio ManagerRobert Gregory Eisner

Portfolio Value: $8.8B
Positions: 2,112
Last Reported: Q3 2025

Sector Allocation

Position in Bread Financial Holdings

Market Value: $857.4K
Shares Held: 15.4K
Portfolio Weight: 0.01%
Owned Since: 2023-Q1

Top Holding	Sector	Market Value	Weight
1 Invesco QQQ Trust QQQ	ETF ETF	$155.2M	1.77%
2 SPDR S&P 500 ETF Trust SPY	ETF ETF	$115.3M	1.32%
3 Sabra Healthcare SBRA	REIT - Healthcare Facilities Real Estate	$112.9M	1.29%