BIGBEAR AI HLDGS INC BBAI
COM · Common Stock · CUSIP 08975B109 · ISIN US08975B1098
AI technology company
- SectorTechnology
- IndustryServices-Prepackaged Software
- HeadquartersMclean, VA
- Websitebigbear.ai
- 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 ($447.0k this quarter). Holder counts are more reliable. Shares outstanding: 370.7m as of 2025-08-08, 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 ≈ $6.79. Options: 21 managers hold calls ($121.2m notional), 19 hold puts ($104.6m).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 19 |
| Q4 2022 | 15 |
| Q1 2023 | 45 |
| Q2 2023 | 64 |
| Q3 2023 | 74 |
| Q4 2023 | 72 |
| Q1 2024 | 99 |
| Q2 2024 | 94 |
| Q3 2024 | 98 |
| Q4 2024 | 143 |
| Q1 2025 | 229 |
| Q2 2025 | 269 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 45 | 24 |
| Q4 2023 | 37 | 31 |
| Q1 2024 | 69 | 33 |
| Q2 2024 | 58 | 38 |
| Q3 2024 | 44 | 39 |
| Q4 2024 | 95 | 34 |
| Q1 2025 | 176 | 50 |
| Q2 2025 | 197 | 67 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $4.4m | $2.1m | 0.48 |
| Q4 2024 | $51.0m | $27.6m | 0.54 |
| Q1 2025 | $37.8m | $35.0m | 0.92 |
| Q2 2025 | $121.2m | $104.6m | 0.86 |
Biggest buyers
| VANGUARD GROUP INC | Added | +14.5m |
| BlackRock, Inc. | Added | +12.1m |
| Jump Financial, LLC | New | +5.5m |
| CITADEL ADVISORS LLC | Added | +5.2m |
| RENAISSANCE TECHNOLOGIES LLC | Added | +3.9m |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +2.8m |
| STATE STREET CORP | Added | +2.7m |
| JPMORGAN CHASE & CO | Added | +2.3m |
| ROYAL BANK OF CANADA | Added | +2.3m |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | Added | +1.6m |
Biggest sellers
| AE INDUSTRIAL PARTNERS, LP | Sold out | -27.4m |
| UBS Group AG | Reduced | -2.9m |
| BNP PARIBAS FINANCIAL MARKETS | Reduced | -2.2m |
| Cubist Systematic Strategies, LLC | Sold out | -1.3m |
| BANK OF AMERICA CORP /DE/ | Reduced | -389.9k |
| DARK FOREST CAPITAL MANAGEMENT LP | Sold out | -250.5k |
| LAZARD ASSET MANAGEMENT LLC | Reduced | -192.9k |
| Quantbot Technologies LP | Reduced | -184.0k |
| Engineers Gate Manager LP | Sold out | -169.7k |
| Balyasny Asset Management L.P. | Sold out | -157.6k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $35.1m5.2m shares |
| CITADEL ADVISORS LLC | Added | $19.7m2.9m shares |
| GROUP ONE TRADING LLC | Added | $19.4m2.9m shares |
| SIMPLEX TRADING, LLC | Added | $15.3m2.3m shares |
| IMC-Chicago, LLC | Added | $9.0m1.3m shares |
| JANE STREET GROUP, LLC | Added | $8.2m1.2m shares |
| WOLVERINE TRADING, LLC | Added | $4.6m790.3k shares |
| Skaana Management L.P. | Added | $4.0m593.2k shares |
| Walleye Capital LLC | Added | $2.0m292.7k shares |
| NOMURA HOLDINGS INC | Unchanged | $1.1m168.4k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $24.7m3.6m shares |
| GROUP ONE TRADING LLC | Reduced | $15.3m2.3m shares |
| SIMPLEX TRADING, LLC | Added | $14.7m2.2m shares |
| CITADEL ADVISORS LLC | Added | $13.6m2.0m shares |
| JANE STREET GROUP, LLC | Added | $9.1m1.3m shares |
| Skaana Management L.P. | Added | $8.1m1.2m shares |
| IMC-Chicago, LLC | Added | $6.0m877.4k shares |
| WOLVERINE TRADING, LLC | Added | $2.5m431.4k shares |
| NATIONAL BANK OF CANADA /FI/ | Added | $2.3m3.4k shares |
| Walleye Capital LLC | Added | $2.0m287.6k 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 |
|---|---|
| BBAI Ultimate Holdings, LLC 13D · may seek influence -2.2 pts · filed 2024-12-30 | 25.7% |
| PANGIAM ULTIMATE HOLDINGS, LLC 13D · may seek influence -2.3 pts · filed 2025-03-11 | 16.3% |
| BlackRock, Inc. 13G · institution +1.4 pts · filed 2026-07-27 | 8.2% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-07-31 | 5.2% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q2 2025
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 |
|---|---|---|---|---|---|
| Q3 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 1 | $96.0k | 2 | $333.1k | — |
| Q1 2024 | 0 | — | 5 | $59.4m | $85.8k |
| Q2 2024 | 1 | $210.0k | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 3 | $237.7m | $155.1m |
| Q1 2025 | 0 | — | 5 | $148.2m | $438.0k |
| Q2 2025 | 0 | — | 4 | $79.2m | $86.2k |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-05-27 | Peffer Julie Chief Financial Officer | Sold | $220.2k50.0k shares |
| 2025-05-15 | HAYES DOROTHY D Director | Sold | $93.6k26.0k shares |
| 2025-05-13 | Peffer Julie Chief Financial Officer | Sold | $159.8k45.9k shares |
| 2025-05-08 | Peffer Julie Chief Financial Officer | Sold | $65.0k20.0k shares |
| 2025-05-07 | Ricker Sean Raymond Chief Accounting Officer | Sold | $42.9k14.1k shares |
| 2025-05-06 | Ricker Sean Raymond Chief Accounting Officer | Sold | $29.7k9.5k shares |
| 2025-05-05 | Ricker Sean Raymond Chief Accounting Officer | Sold | $33.3k10.0k shares |
| 2025-04-08 | AE INDUSTRIAL PARTNERS FUND II, LP +8 Director · See footnotes | Sold | $78.5m27.4m shares |
| 2025-04-02 | Ricker Sean Raymond Chief Accounting Officer | Sold plan | $80.2k27.8k shares |
| 2025-04-01 | Ricker Sean Raymond Chief Accounting Officer | Sold plan | $6.0k2.1k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.00% of their portfolio | 20.8m $141.3m | Added +14.5m |
| BlackRock, Inc. 0.00% of their portfolio | 20.1m $136.7m | Added +12.1m |
| CITADEL ADVISORS LLC 0.04% of their portfolio | 6.4m $43.5m | Added +5.2m |
| STATE STREET CORP 0.00% of their portfolio | 6.3m $42.5m | Added +2.7m |
| RENAISSANCE TECHNOLOGIES LLC 0.05% of their portfolio | 5.5m $37.7m | Added +3.9m |
| Jump Financial, LLC 0.46% of their portfolio | 5.5m $37.4m | New |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 5.1m $34.5m | Added +2.8m |
| MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio | 3.3m $22.6m | Added +425.5k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 3.2m $21.4m | Added +812.5k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 2.4m $16.3m | Added +2.3m |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 2.3m $15.9m | Added +2.3m |
| HRT FINANCIAL LP 0.08% of their portfolio | 2.3m $15.5m | Added +1.2m |
| NORTHERN TRUST CORP 0.00% of their portfolio | 2.2m $14.8m | Added +1.3m |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.02% of their portfolio | 2.2m $14.7m | Added +343.5k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.03% of their portfolio | 2.0m $13.9m | Added +1.6m |
| Headlands Technologies LLC 1.60% of their portfolio | 2.0m $13.3m | Added +1.3m |
| TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio | 1.8m $12.5m | Added +222.3k |
| MORGAN STANLEY 0.00% of their portfolio | 1.7m $11.6m | Reduced -134.3k |
| GROUP ONE TRADING LLC 0.35% of their portfolio | 1.6m $10.8m | Added +197.2k |
| CAPTRUST FINANCIAL ADVISORS 0.02% of their portfolio | 1.5m $10.2m | Added +877.7k |
| MERCER GLOBAL ADVISORS INC /ADV 0.02% of their portfolio | 1.5m $10.2m | Added +1.5m |
| Squarepoint Ops LLC 0.02% of their portfolio | 1.3m $9.2m | Added +691.2k |
| ELEVATUS WELATH MANAGEMENT 2.90% of their portfolio | 1.3m $8.7m | New |
| UBS Group AG 0.00% of their portfolio | 1.2m $8.0m | Reduced -2.9m |
| JANE STREET GROUP, LLC 0.01% of their portfolio | 983.0k $6.7m | Added +919.4k |
| TUDOR INVESTMENT CORP ET AL 0.05% of their portfolio | 979.4k $6.7m | New |
| Bank of New York Mellon Corp 0.00% of their portfolio | 798.4k $5.4m | Added +514.7k |
| Caitong International Asset Management Co., Ltd 3.86% of their portfolio | 796.0k $5.4m | Added +757.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 778.2k $5.3m | Added +479.6k |
| SIMPLEX TRADING, LLC 0.13% of their portfolio | 705.7k $4.8m | Added +533.5k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 704.7k $4.8m | Added +464.7k |
| BARCLAYS PLC 0.00% of their portfolio | 673.7k $4.6m | Added +510.4k |
| Nuveen, LLC 0.00% of their portfolio | 655.5k $4.5m | Added +348.4k |
| CITIGROUP INC 0.00% of their portfolio | 626.8k $4.3m | Added +174.4k |
| Skaana Management L.P. 1.79% of their portfolio | 607.8k $4.1m | Reduced -28.0k |
| Swiss National Bank 0.00% of their portfolio | 552.1k $3.7m | Added +186.6k |
| Virtu Financial LLC 0.16% of their portfolio | 457.7k $3.1m | Added +328.2k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 426.8k $2.9m | Added +294.8k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 391.8k $2.7m | Added +288.2k |
| XTX Topco Ltd 0.10% of their portfolio | 368.9k $2.5m | Added +334.8k |
| TWO SIGMA SECURITIES, LLC 0.31% of their portfolio | 364.5k $2.5m | Added +302.4k |
| Scientech Research LLC 0.58% of their portfolio | 346.5k $2.4m | Added +150.2k |
| NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio | 338.2k $2.3m | Added +337.8k |
| Legal & General Group Plc 0.00% of their portfolio | 335.0k $2.3m | Added +173.6k |
| LPL Financial LLC 0.00% of their portfolio | 318.3k $2.2m | Added +41.1k |
| BLAIR WILLIAM & CO/IL 0.01% of their portfolio | 309.6k $2.1m | Added +26.6k |
| LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio | 295.4k $2.0m | Reduced -192.9k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 294.6k $2.0m | Added +281.5k |
| SG Americas Securities, LLC 0.01% of their portfolio | 281.7k $1.9m | Added +228.9k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 280.1k $1.9m | Added +118.3k |
| Cetera Investment Advisers 0.00% of their portfolio | 274.0k $1.9m | Added +200.7k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 273.5k $1.9m | Added +103.1k |
| KIECKHEFER GROUP LLC 0.98% of their portfolio | 265.6k $1.8m | Added +42.0k |
| Schonfeld Strategic Advisors LLC 0.01% of their portfolio | 258.0k $1.8m | New |
| WEDBUSH SECURITIES INC 0.06% of their portfolio | 245.8k $1.7m | New |
| ExodusPoint Capital Management, LP 0.02% of their portfolio | 245.4k $1.7m | New |
| Sassicaia Capital Advisers LLC 0.95% of their portfolio | 222.4k $1.5m | New |
| Marex Group Ltd 0.03% of their portfolio | 207.9k $1.4m | New |
| PEAK6 LLC 0.03% of their portfolio | 207.6k $1.4m | New |
| Bulltick Wealth Management, LLC 0.34% of their portfolio | 200.0k $1.4m | Reduced -71.8k |
| Verition Fund Management LLC 0.01% of their portfolio | 194.1k $1.3m | New |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 191.3k $1.3m | Added +109.1k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 177.1k $1.2m | Reduced -389.9k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio | 174.7k $1.2m | Reduced -17.4k |
| MetLife Investment Management, LLC 0.01% of their portfolio | 174.4k $1.2m | Added +132.1k |
| PFG Advisors 0.05% of their portfolio | 172.9k $1.2m | Added +94.4k |
| SBI Securities Co., Ltd. 0.03% of their portfolio | 167.6k $1.1m | Added +35.5k |
| Kovack Advisors, Inc. 0.11% of their portfolio | 161.9k $1.1m | Added +140.4k |
| Invesco Ltd. 0.00% of their portfolio | 158.2k $1.1m | Added +131.4k |
| Sargent Investment Group, LLC 0.14% of their portfolio | 156.2k $1.0m | Added +83.0k |
| INTECH INVESTMENT MANAGEMENT LLC 0.01% of their portfolio | 156.1k $1.1m | Added +30.3k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 144.5k $982.0k | Added +100.4k |
| THOROUGHBRED FINANCIAL SERVICES, LLC 0.06% of their portfolio | 137.0k $930.0k | Added +105.0k |
| HARBOUR INVESTMENTS, INC. 0.02% of their portfolio | 136.2k $924.6k | Added +300 |
| KINGSWOOD WEALTH ADVISORS, LLC 0.07% of their portfolio | 125.1k $849.7k | Added +101.5k |
| JANUS HENDERSON GROUP PLC 0.00% of their portfolio | 123.6k $838.6k | Added +39.4k |
| Brevan Howard Capital Management LP 0.01% of their portfolio | 121.0k $821.5k | New |
| Freedom Investment Management, Inc. 0.06% of their portfolio | 119.2k $809.2k | Reduced -27.3k |
| J.W. COLE ADVISORS, INC. 0.02% of their portfolio | 114.0k $774.3k | Added +3.4k |
| Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio | 106.7k $724.0k | Added +24.0k |
| WOLVERINE TRADING, LLC 0.02% of their portfolio | 105.1k $614.0k | Reduced -19.4k |
| BANK OF MONTREAL /CAN/ 0.00% of their portfolio | 103.4k $702.0k | Reduced -73.8k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 102.7k $697.1k | Added +63.6k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio | 101.8k $691.0k | Added +32.0k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 91.6k $622.2k | Added +59.8k |
| Creative Planning 0.00% of their portfolio | 86.7k $589.0k | Added +44.2k |
| McGuire Investment Group, LLC 0.08% of their portfolio | 86.7k $588.4k | Added +40.8k |
| ARIZONA STATE RETIREMENT SYSTEM 0.00% of their portfolio | 84.3k $572.7k | Added +30.2k |
| Leonteq Securities AG 0.03% of their portfolio | 80.0k $543.2k | Added +60.0k |
| NewEdge Advisors, LLC 0.00% of their portfolio | 79.4k $539.0k | Added +5.1k |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 79.3k $538.7k | Added +23.2k |
| R Squared Ltd 0.29% of their portfolio | 78.5k $533.3k | Not comparable |
| Nebula Research & Development LLC 0.04% of their portfolio | 71.4k $484.8k | Added +17.9k |
| Walleye Capital LLC 0.00% of their portfolio | 71.1k $482.7k | Added +64.9k |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 68.6k $465.9k | Added +10.8k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio | 68.2k $463.0k | Added +34.5k |
| Police & Firemen's Retirement System of New Jersey 0.00% of their portfolio | 65.6k $445.5k | Added +45.2k |
| MOODY NATIONAL BANK TRUST DIVISION 0.04% of their portfolio | 64.8k $439.9k | New |
| Walleye Trading LLC 0.01% of their portfolio | 62.6k $424.9k | New |
| TRUE Private Wealth Advisors 0.05% of their portfolio | 62.4k $423.7k | Added +5.6k |