BATH & BODY WORKS INC BBWI
COM · Common Stock · CUSIP 070830104 · ISIN US0708301041
American retailer under the L Brands (formerly Limited Brands) umbrella, along with Victoria's Secret
- SectorConsumer discretionary
- IndustryRetail-Retail Stores, NEC
- HeadquartersColumbus, OH
- Founded1990
- Websitebathandbodyworks.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($14.9m this quarter). Holder counts are more reliable. Shares outstanding: 201.1m as of 2026-03-06, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $18.71. Options: 18 managers hold calls ($47.7m notional), 16 hold puts ($37.9m).
Trends to Q1 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 471 |
| Q4 2022 | 513 |
| Q1 2023 | 496 |
| Q2 2023 | 486 |
| Q3 2023 | 472 |
| Q4 2023 | 489 |
| Q1 2024 | 512 |
| Q2 2024 | 524 |
| Q3 2024 | 475 |
| Q4 2024 | 487 |
| Q1 2025 | 470 |
| Q2 2025 | 477 |
| Q3 2025 | 476 |
| Q4 2025 | 445 |
| Q1 2026 | 471 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2024 | 271 | 233 |
| Q3 2024 | 229 | 291 |
| Q4 2024 | 264 | 259 |
| Q1 2025 | 266 | 235 |
| Q2 2025 | 256 | 240 |
| Q3 2025 | 263 | 245 |
| Q4 2025 | 210 | 288 |
| Q1 2026 | 288 | 185 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2025 | $103.3m | $356.4m | 3.45 |
| Q3 2025 | $101.4m | $382.5m | 3.77 |
| Q4 2025 | $88.6m | $131.9m | 1.49 |
| Q1 2026 | $47.7m | $37.9m | 0.80 |
Biggest buyers
| FMR LLC | Added | +3.9m |
| D. E. Shaw & Co., Inc. | Added | +3.7m |
| RENAISSANCE TECHNOLOGIES LLC | Added | +2.5m |
| Point72 Asset Management, L.P. | Added | +1.9m |
| Freestone Grove Partners LP | Added | +1.4m |
| Callodine Capital Management, LP | New | +1.1m |
| Fund 1 Investments, LLC | Added | +933.8k |
| GMT Capital Corp | Added | +915.2k |
| Quantinno Capital Management LP | Added | +814.2k |
| GOLDMAN SACHS GROUP INC | Added | +785.8k |
Biggest sellers
| FULLER & THALER ASSET MANAGEMENT, INC. | Reduced | -2.3m |
| Forest Avenue Capital Management LP | Sold out | -2.2m |
| BlackRock, Inc. | Reduced | -1.8m |
| CANADA PENSION PLAN INVESTMENT BOARD | Reduced | -1.7m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -1.5m |
| JANE STREET GROUP, LLC | Reduced | -1.2m |
| AMERICAN CENTURY COMPANIES INC | Reduced | -840.2k |
| DEUTSCHE BANK AG\ | Reduced | -751.9k |
| Makaira Partners LLC | Sold out | -734.4k |
| PANAGORA ASSET MANAGEMENT INC | Sold out | -709.3k |
Biggest calls
| CITADEL ADVISORS LLC | Reduced | $9.3m500.8k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $7.3m389.0k shares |
| GROUP ONE TRADING LLC | Reduced | $5.2m279.8k shares |
| Interval Partners, LP | New | $5.1m271.8k shares |
| Balyasny Asset Management L.P. | New | $4.2m225.0k shares |
| IMC-Chicago, LLC | Reduced | $3.6m191.4k shares |
| JANE STREET GROUP, LLC | Reduced | $3.0m162.2k shares |
| SIMPLEX TRADING, LLC | Reduced | $1.8m98.0k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $1.8m95.4k shares |
| D. E. Shaw & Co., Inc. | Reduced | $1.3m67.7k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $13.6m728.0k shares |
| ExodusPoint Capital Management, LP | New | $3.4m180.0k shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $2.6m139.5k shares |
| D. E. Shaw & Co., Inc. | Reduced | $2.6m138.5k shares |
| IMC-Chicago, LLC | Reduced | $2.6m137.0k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $2.5m136.0k shares |
| CITADEL ADVISORS LLC | Reduced | $2.1m111.7k shares |
| JANE STREET GROUP, LLC | Reduced | $2.0m108.4k shares |
| PEAK6 LLC | Reduced | $1.8m94.2k shares |
| Point72 Asset Management, L.P. | Reduced | $1.3m67.5k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| FMR LLC 13G · institution +2.1 pts · filed 2026-04-07 | 10.4% |
| BlackRock, Inc. 13G · institution filed 2025-04-17 | 8.8% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 7.5% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 5.3% |
Fell to 5% or below in the last year: AQR CAPITAL MANAGEMENT LLC (3.8%, 2026-08-12), VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
Insider purchases and sales in Q1 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q2 2024 | 0 | — | 1 | $2.0m | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 1 | $177.8k | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 6 | $1.0m | 0 | — | — |
| Q1 2026 | 0 | — | 0 | — | — |
None reported in Q1 2026.
Holders, Q1 2026
| Manager | Shares | Change |
|---|---|---|
| FMR LLC 0.02% of their portfolio | 20.9m $390.0m | Added +3.9m |
| BlackRock, Inc. 0.01% of their portfolio | 19.3m $360.7m | Reduced -1.8m |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.01% of their portfolio | 15.0m $280.5m | First filing |
| AQR CAPITAL MANAGEMENT LLC 0.09% of their portfolio | 11.0m $206.1m | Reduced -405.2k |
| D. E. Shaw & Co., Inc. 0.14% of their portfolio | 9.5m $177.5m | Added +3.7m |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 9.2m $171.0m | First filing |
| STATE STREET CORP 0.00% of their portfolio | 6.9m $129.5m | Added +113.8k |
| ALLIANCEBERNSTEIN L.P. 0.04% of their portfolio | 5.7m $115.4m | Added +722.1k |
| AMERICAN CENTURY COMPANIES INC 0.04% of their portfolio | 4.5m $83.5m | Reduced -840.2k |
| GMT Capital Corp 3.56% of their portfolio | 4.2m $77.9m | Added +915.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 4.0m $74.0m | Added +2.1k |
| Point72 Asset Management, L.P. 0.12% of their portfolio | 3.8m $70.1m | Added +1.9m |
| Balyasny Asset Management L.P. 0.12% of their portfolio | 3.4m $62.8m | Added +634.4k |
| VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. 0.53% of their portfolio | 2.9m $53.2m | Added +719.8k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.03% of their portfolio | 2.8m $51.9m | Added +707.4k |
| RENAISSANCE TECHNOLOGIES LLC 0.08% of their portfolio | 2.7m $51.0m | Added +2.5m |
| MORGAN STANLEY 0.00% of their portfolio | 2.5m $47.6m | Added +68.4k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 2.5m $45.8m | Reduced -70.3k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 2.3m $43.8m | Reduced -291.9k |
| FULLER & THALER ASSET MANAGEMENT, INC. 0.15% of their portfolio | 2.3m $43.6m | Reduced -2.3m |
| NORTHERN TRUST CORP 0.01% of their portfolio | 2.3m $42.0m | Added +197.9k |
| CITADEL ADVISORS LLC 0.03% of their portfolio | 2.1m $38.7m | Reduced -142.7k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.02% of their portfolio | 2.1m $38.4m | Reduced -1.7m |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 2.1m $38.3m | Added +425.2k |
| South Dakota Investment Council 0.63% of their portfolio | 1.8m $32.8m | Added +71.3k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 1.7m $31.8m | Added +785.8k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 1.7m $31.1m | Added +101.9k |
| Pacer Advisors, Inc. 0.09% of their portfolio | 1.7m $31.1m | Reduced -210.9k |
| JANE STREET GROUP, LLC 0.03% of their portfolio | 1.6m $30.6m | Reduced -1.2m |
| Gotham Asset Management, LLC 0.08% of their portfolio | 1.5m $27.4m | Added +179.5k |
| Freestone Grove Partners LP 0.19% of their portfolio | 1.4m $26.7m | Added +1.4m |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.02% of their portfolio | 1.4m $25.8m | Reduced -301.2k |
| MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio | 1.3m $24.3m | Reduced -1.5m |
| Fund 1 Investments, LLC 3.09% of their portfolio | 1.3m $23.7m | Added +933.8k |
| VANGUARD FIDUCIARY TRUST CO 0.01% of their portfolio | 1.3m $23.7m | First filing |
| TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio | 1.2m $23.1m | Added +388.9k |
| EARNEST PARTNERS LLC 0.09% of their portfolio | 1.2m $23.0m | Added +67.6k |
| Callodine Capital Management, LP 1.38% of their portfolio | 1.1m $19.6m | New |
| Quantinno Capital Management LP 0.03% of their portfolio | 965.8k $18.0m | Added +814.2k |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 956.9k $17.9m | Reduced -607.1k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio | 937.3k $17.8m | Added +238.1k |
| Capital International Investors 0.00% of their portfolio | 916.4k $17.1m | Unchanged |
| ROYCE & ASSOCIATES LP 0.16% of their portfolio | 849.4k $15.9m | Added +275.5k |
| Retirement Systems of Alabama 0.05% of their portfolio | 835.5k $15.6m | Added +3.5k |
| Allianz Asset Management GmbH 0.02% of their portfolio | 808.9k $15.1m | Added +176.4k |
| IEQ CAPITAL, LLC 0.07% of their portfolio | 786.2k $14.7m | Added +289.6k |
| Connor, Clark & Lunn Investment Management Ltd. 0.03% of their portfolio | 786.1k $14.7m | Added +98.7k |
| VICTORY CAPITAL MANAGEMENT INC 0.01% of their portfolio | 744.2k $13.9m | Reduced -230.5k |
| Invesco Ltd. 0.00% of their portfolio | 727.5k $13.6m | Added +74.5k |
| THOMPSON SIEGEL & WALMSLEY LLC 0.22% of their portfolio | 664.7k $12.4m | Added +159.5k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.02% of their portfolio | 618.1k $11.5m | Reduced -12.2k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 603.7k $11.3m | Added +23.3k |
| FIRST TRUST ADVISORS LP 0.01% of their portfolio | 596.8k $11.1m | Added +98.3k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 568.0k $10.6m | Added +293.2k |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 556.8k $10.4m | Reduced -402.7k |
| SEI INVESTMENTS CO 0.01% of their portfolio | 547.3k $10.2m | Added +210.0k |
| ARGA Investment Management, LP 0.33% of their portfolio | 545.5k $10.2m | Reduced -74.2k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 545.5k $10.2m | Reduced -1.4k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 521.8k $9.7m | Reduced -10.7k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 513.3k $9.6m | Added +239.5k |
| NATIXIS ADVISORS, LLC 0.01% of their portfolio | 502.4k $9.4m | Added +123.5k |
| OLD NATIONAL BANCORP /IN/ 0.16% of their portfolio | 499.2k $9.3m | Added +83.1k |
| DANSKE BANK A/S 0.02% of their portfolio | 485.5k $9.1m | Added +484.0k |
| PARADIGM CAPITAL MANAGEMENT INC/NY 0.34% of their portfolio | 481.1k $9.0m | Added +281.1k |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 457.0k $8.5m | Added +13.5k |
| STRS OHIO 0.03% of their portfolio | 451.9k $8.4m | Reduced -7 |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 408.3k $7.6m | Added +64.4k |
| Swiss National Bank 0.00% of their portfolio | 404.8k $7.6m | Reduced -1.8k |
| ALGERT GLOBAL LLC 0.11% of their portfolio | 398.8k $7.4m | Added +146.4k |
| California Public Employees Retirement System 0.00% of their portfolio | 381.9k $7.1m | Reduced -5.6k |
| UBS Group AG 0.00% of their portfolio | 360.0k $6.7m | Reduced -91.7k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio | 357.6k $6.7m | New |
| JUPITER ASSET MANAGEMENT LTD 0.04% of their portfolio | 356.3k $6.7m | Reduced -595.0k |
| BARINGTON COMPANIES MANAGEMENT, LLC 5.31% of their portfolio | 350.0k $6.5m | Added +275.0k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 341.7k $6.4m | Added +38.4k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio | 339.5k $6.3m | Added +125.4k |
| Mariner, LLC 0.01% of their portfolio | 335.4k $6.3m | Added +163.6k |
| Cerity Partners LLC 0.01% of their portfolio | 334.8k $6.3m | Added +149.8k |
| TUDOR INVESTMENT CORP ET AL 0.03% of their portfolio | 327.4k $6.1m | Reduced -43.9k |
| SEGALL BRYANT & HAMILL, LLC 0.09% of their portfolio | 327.1k $6.1m | Added +49.1k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 318.0k $5.9m | Added +203.3k |
| PRIMECAP MANAGEMENT CO/CA/ 0.00% of their portfolio | 313.6k $5.9m | Reduced -3.6k |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 297.5k $5.6m | Reduced -327.0k |
| SummitTX Capital, L.P. 0.17% of their portfolio | 291.1k $5.4m | New |
| Nuveen, LLC 0.00% of their portfolio | 287.7k $5.4m | Reduced -300.9k |
| Schonfeld Strategic Advisors LLC 0.04% of their portfolio | 279.7k $5.2m | New |
| Legal & General Group Plc 0.00% of their portfolio | 273.7k $5.1m | Reduced -36.3k |
| CWM, LLC 0.01% of their portfolio | 271.0k $5.1m | Added +45.9k |
| Mitsubishi UFJ Trust & Banking Corp 0.01% of their portfolio | 268.2k $5.0m | Added +3.6k |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 253.2k $4.7m | Added +8.4k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 238.9k $4.5m | Added +20.9k |
| Trexquant Investment LP 0.03% of their portfolio | 233.0k $4.4m | Added +199.1k |
| Holocene Advisors, LP 0.01% of their portfolio | 232.3k $4.3m | Added +57.1k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 230.8k $4.3m | Added +18.6k |
| BARCLAYS PLC 0.00% of their portfolio | 218.6k $4.1m | Reduced -192.6k |
| Sciencast Management LP 0.51% of their portfolio | 213.9k $4.0m | Added +145.7k |
| KWMG, LLC 0.33% of their portfolio | 213.6k $4.0m | Added +17.8k |
| MERCER GLOBAL ADVISORS INC /ADV 0.01% of their portfolio | 211.9k $4.0m | Added +50.0k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 203.0k $3.8m | Reduced -30.9k |
| Vanguard Global Advisers, LLC 0.00% of their portfolio | 201.8k $3.8m | First filing |