BRIGHTHOUSE FINL INC BHF
COM · Common Stock · CUSIP 10922N103 · ISIN US10922N1037
American financial services company
- SectorFinancials
- IndustryLife Insurance
- HeadquartersCharlotte, NC
- Websitebrighthousefinancial.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 ($6.2m this quarter). Holder counts are more reliable. Shares outstanding: 57.2m as of 2025-10-31, 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 ≈ $64.79. Options: 18 managers hold calls ($67.0m notional), 17 hold puts ($54.7m).
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 412 |
| Q4 2022 | 428 |
| Q1 2023 | 416 |
| Q2 2023 | 411 |
| Q3 2023 | 406 |
| Q4 2023 | 431 |
| Q1 2024 | 427 |
| Q2 2024 | 429 |
| Q3 2024 | 416 |
| Q4 2024 | 410 |
| Q1 2025 | 439 |
| Q2 2025 | 448 |
| Q3 2025 | 435 |
| Q4 2025 | 458 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2024 | 144 | 187 |
| Q2 2024 | 129 | 198 |
| Q3 2024 | 130 | 187 |
| Q4 2024 | 137 | 182 |
| Q1 2025 | 175 | 162 |
| Q2 2025 | 180 | 193 |
| Q3 2025 | 164 | 209 |
| Q4 2025 | 193 | 200 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $38.0m | $45.8m | 1.21 |
| Q2 2025 | $89.3m | $158.5m | 1.77 |
| Q3 2025 | $191.7m | $275.3m | 1.44 |
| Q4 2025 | $67.0m | $54.7m | 0.82 |
Biggest buyers
| HBK INVESTMENTS L P | New | +2.1m |
| GLAZER CAPITAL, LLC | New | +1.7m |
| MORGAN STANLEY | Added | +758.0k |
| HSBC HOLDINGS PLC | New | +664.7k |
| NEXPOINT ASSET MANAGEMENT, L.P. | New | +576.5k |
| AQR Arbitrage LLC | New | +566.2k |
| ALLIANCEBERNSTEIN L.P. | Added | +495.8k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | New | +390.8k |
| FRANKLIN RESOURCES INC | Added | +382.1k |
| ALPINE ASSOCIATES MANAGEMENT INC. | New | +372.7k |
Biggest sellers
| Pentwater Capital Management LP | Sold out | -2.3m |
| FMR LLC | Reduced | -1.0m |
| AQR CAPITAL MANAGEMENT LLC | Reduced | -970.8k |
| UBS Group AG | Reduced | -873.6k |
| VICTORY CAPITAL MANAGEMENT INC | Reduced | -857.1k |
| Balyasny Asset Management L.P. | Sold out | -747.3k |
| BlackRock, Inc. | Reduced | -695.9k |
| Freestone Grove Partners LP | Sold out | -592.8k |
| TIG Advisors, LLC | Sold out | -536.2k |
| MARSHALL WACE, LLP | Reduced | -475.4k |
Biggest calls
| SIMPLEX TRADING, LLC | Added | $10.6m164.0k shares |
| Walleye Trading LLC | Reduced | $9.0m138.2k shares |
| GROUP ONE TRADING LLC | Added | $7.9m121.6k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $7.4m113.5k shares |
| CITADEL ADVISORS LLC | Reduced | $5.9m91.2k shares |
| JPMORGAN CHASE & CO | Reduced | $4.2m64.1k shares |
| Walleye Capital LLC | Added | $4.1m63.8k shares |
| Centiva Capital, LP | Reduced | $3.2m50.0k shares |
| JANE STREET GROUP, LLC | Reduced | $2.9m44.7k shares |
| Point72 Asset Management, L.P. | New | $2.3m35.8k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $14.5m223.6k shares |
| Centiva Capital, LP | Reduced | $8.4m130.0k shares |
| Brevan Howard Capital Management LP | New | $7.2m111.0k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $3.8m58.0k shares |
| GROUP ONE TRADING LLC | Reduced | $3.8m57.9k shares |
| Walleye Trading LLC | Added | $3.3m51.3k shares |
| CITADEL ADVISORS LLC | Reduced | $2.9m44.3k shares |
| JANE STREET GROUP, LLC | Reduced | $2.6m39.7k shares |
| HARVEST MANAGEMENT LLC | Added | $1.9m30.0k shares |
| EQUITEC PROPRIETARY MARKETS, LLC | New | $1.5m23.4k 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 |
|---|---|
| DIMENSIONAL FUND ADVISORS LP 13G · institution filed 2026-07-14 | 6.3% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 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 Q4 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 |
|---|---|---|---|---|---|
| Q1 2024 | 0 | — | 5 | $2.9m | — |
| Q2 2024 | 1 | $108.0k | 5 | $2.1m | $2.1m |
| Q3 2024 | 0 | — | 5 | $2.4m | $2.4m |
| Q4 2024 | 0 | — | 5 | $3.0m | $3.0m |
| Q1 2025 | 0 | — | 4 | $2.8m | $2.8m |
| Q2 2025 | 0 | — | 3 | $2.1m | $2.1m |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 0 | — | 0 | — | — |
None reported in Q4 2025.
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.01% of their portfolio | 5.4m $350.6m | Reduced -126.9k |
| BlackRock, Inc. 0.01% of their portfolio | 5.4m $347.4m | Reduced -695.9k |
| DIMENSIONAL FUND ADVISORS LP 0.05% of their portfolio | 3.5m $226.4m | Added +45.1k |
| DME Capital Management, LP 6.35% of their portfolio | 2.8m $180.9m | Unchanged |
| UBS Group AG 0.03% of their portfolio | 2.5m $164.5m | Reduced -873.6k |
| AMERICAN CENTURY COMPANIES INC 0.08% of their portfolio | 2.3m $151.7m | Added +131.1k |
| HBK INVESTMENTS L P 1.47% of their portfolio | 2.1m $136.1m | New |
| STATE STREET CORP 0.00% of their portfolio | 2.0m $127.8m | Reduced -141.3k |
| GLAZER CAPITAL, LLC 2.98% of their portfolio | 1.7m $113.3m | New |
| MORGAN STANLEY 0.00% of their portfolio | 1.3m $82.0m | Added +758.0k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 1.1m $69.4m | Added +4.5k |
| SOROS FUND MANAGEMENT LLC 0.67% of their portfolio | 774.3k $50.2m | Added +126.1k |
| FIRST TRUST ADVISORS LP 0.03% of their portfolio | 739.3k $47.9m | Added +52.5k |
| FMR LLC 0.00% of their portfolio | 737.5k $47.8m | Reduced -1.0m |
| HSBC HOLDINGS PLC 0.01% of their portfolio | 664.7k $43.1m | New |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 601.8k $39.0m | Added +495.8k |
| Nuveen, LLC 0.01% of their portfolio | 578.8k $37.5m | Added +192.4k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 577.2k $37.4m | Reduced -27.8k |
| NEXPOINT ASSET MANAGEMENT, L.P. 2.60% of their portfolio | 576.5k $37.4m | New |
| MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio | 567.0k $36.7m | Added +5.9k |
| AQR Arbitrage LLC 0.77% of their portfolio | 566.2k $36.7m | New |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 544.3k $35.3m | Added +43.6k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 510.8k $33.1m | Added +194.6k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.05% of their portfolio | 508.3k $32.9m | Added +330.5k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 506.7k $32.8m | Added +35.0k |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 502.6k $32.6m | Added +382.1k |
| CITIGROUP INC 0.02% of their portfolio | 466.7k $30.2m | Added +314.8k |
| Invesco Ltd. 0.00% of their portfolio | 427.3k $27.7m | Added +5.7k |
| AQR CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 425.4k $27.6m | Reduced -970.8k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.04% of their portfolio | 390.8k $25.3m | New |
| Squarepoint Ops LLC 0.05% of their portfolio | 380.9k $24.7m | Added +346.9k |
| ALPINE ASSOCIATES MANAGEMENT INC. 1.63% of their portfolio | 372.7k $24.1m | New |
| Bank of New York Mellon Corp 0.00% of their portfolio | 357.7k $23.2m | Reduced -102.0k |
| SG Americas Securities, LLC 0.03% of their portfolio | 341.5k $22.1m | Added +238.5k |
| Qube Research & Technologies Ltd 0.03% of their portfolio | 322.4k $20.9m | New |
| PRELUDE CAPITAL MANAGEMENT, LLC 1.51% of their portfolio | 315.4k $20.4m | Added +41.5k |
| Jefferies Financial Group Inc. 0.17% of their portfolio | 314.6k $20.4m | Added +35.0k |
| KRYGER CAPITAL Ltd 1.52% of their portfolio | 302.8k $19.6m | Added +277.8k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 298.2k $19.3m | Added +90.2k |
| HIGHBRIDGE CAPITAL MANAGEMENT LLC 0.82% of their portfolio | 275.4k $17.8m | New |
| Verition Fund Management LLC 0.09% of their portfolio | 266.5k $17.3m | Added +110.5k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.01% of their portfolio | 228.8k $14.8m | Reduced -142.1k |
| BANK OF NOVA SCOTIA 0.02% of their portfolio | 215.2k $13.9m | New |
| Allianz Asset Management GmbH 0.02% of their portfolio | 213.4k $13.8m | New |
| LMR Partners LLP 0.13% of their portfolio | 204.4k $13.2m | New |
| NORGES BANK 0.00% of their portfolio | 191.0k $12.4m | Not comparable |
| NATIXIS 0.05% of their portfolio | 188.4k $12.2m | Added +58.8k |
| GRACE & WHITE INC /NY 2.17% of their portfolio | 187.6k $12.2m | Reduced -6.2k |
| WINTON GROUP Ltd 0.37% of their portfolio | 167.4k $10.8m | Added +143.3k |
| Gotham Asset Management, LLC 0.04% of their portfolio | 166.5k $10.8m | Added +125.3k |
| Assenagon Asset Management S.A. 0.02% of their portfolio | 162.1k $10.5m | New |
| CREDIT INDUSTRIEL ET COMMERCIAL 1.47% of their portfolio | 155.2k $10.1m | New |
| HENNESSY ADVISORS INC 0.35% of their portfolio | 150.9k $9.8m | Reduced -9.8k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 148.4k $9.6m | Reduced -4.0k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.01% of their portfolio | 148.1k $9.6m | New |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 146.2k $9.5m | Reduced -5.0k |
| Quantinno Capital Management LP 0.02% of their portfolio | 138.8k $9.0m | Added +35.6k |
| TORONTO DOMINION BANK 0.02% of their portfolio | 134.1k $8.7m | New |
| Groupe la Francaise 0.13% of their portfolio | 133.5k $8.6m | New |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 133.3k $8.6m | Added +98.9k |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 123.0k $8.0m | Reduced -4.0k |
| Quinn Opportunity Partners LLC 0.32% of their portfolio | 114.8k $7.4m | Added +86.8k |
| Swiss National Bank 0.00% of their portfolio | 112.7k $7.3m | Added +1.8k |
| LSV ASSET MANAGEMENT 0.02% of their portfolio | 106.6k $6.9m | Reduced -4.1k |
| TUDOR INVESTMENT CORP ET AL 0.04% of their portfolio | 101.0k $6.5m | New |
| Legal & General Group Plc 0.00% of their portfolio | 96.8k $6.3m | Reduced -17.1k |
| ADAR1 Capital Management, LLC 0.46% of their portfolio | 95.5k $6.2m | Added +85.5k |
| Hillsdale Investment Management Inc. 0.16% of their portfolio | 91.4k $5.9m | Reduced -1.1k |
| KESTREL INVESTMENT MANAGEMENT CORP 3.35% of their portfolio | 91.2k $5.9m | Reduced -3.3k |
| GARDNER LEWIS ASSET MANAGEMENT L P 1.50% of their portfolio | 91.0k $5.9m | New |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.03% of their portfolio | 89.3k $5.8m | Added +74.6k |
| SYQUANT CAPITAL SAS 0.66% of their portfolio | 83.3k $5.4m | New |
| ALGERT GLOBAL LLC 0.07% of their portfolio | 73.5k $4.8m | Added +5.0k |
| Corient Private Wealth LP 0.00% of their portfolio | 72.0k $4.6m | Added +49.5k |
| Tidal Investments LLC 0.02% of their portfolio | 72.0k $4.7m | Added +59.0k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 71.9k $4.7m | Reduced -282.1k |
| Centiva Capital, LP 0.28% of their portfolio | 70.5k $4.6m | New |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.02% of their portfolio | 69.6k $4.5m | New |
| Retirement Systems of Alabama 0.01% of their portfolio | 68.6k $4.4m | Reduced -486 |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 68.0k $4.4m | Reduced -633 |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 59.6k $3.9m | Reduced -13.9k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 59.6k $3.9m | Reduced -23.0k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 59.6k $3.9m | Reduced -10.4k |
| GABELLI FUNDS LLC 0.03% of their portfolio | 58.9k $3.8m | Added +33.9k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 58.3k $3.8m | Reduced -4.3k |
| BARCLAYS PLC 0.00% of their portfolio | 58.0k $3.8m | Reduced -92.5k |
| LAZARD ASSET MANAGEMENT LLC 0.01% of their portfolio | 56.8k $3.7m | Reduced -60.1k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 55.5k $3.6m | Added +1.9k |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 52.4k $3.4m | Reduced -857.1k |
| Alberta Investment Management Corp 0.02% of their portfolio | 50.0k $3.2m | New |
| Yakira Capital Management, Inc. 1.08% of their portfolio | 49.8k $3.2m | New |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.01% of their portfolio | 49.4k $3.2m | Added +12.5k |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 48.2k $3.1m | Reduced -24.0k |
| LPL Financial LLC 0.00% of their portfolio | 47.8k $3.1m | Reduced -15.3k |
| GABELLI & Co INVESTMENT ADVISERS, INC. 0.46% of their portfolio | 47.5k $3.1m | Added +22.7k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 47.5k $3.1m | Added +3.5k |
| New York Life Investment Management LLC 0.03% of their portfolio | 46.0k $3.0m | New |
| WOLVERINE ASSET MANAGEMENT LLC 0.04% of their portfolio | 44.7k $2.9m | New |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.01% of their portfolio | 44.3k $2.9m | Added +25.9k |
| Pinnacle Holdings, LLC 0.96% of their portfolio | 44.1k $2.9m | Reduced -2.8k |