Vault-13

BRIDGER AEROSPACE GRP HLDGS BAER

COM · Common Stock · CUSIP 96812F102

54 institutional holders -2 vs Q2 2025
18,562,80818.6m shares reported held*
33.4% of all shares outstanding*
$34.3mreported value*
9 new 14 added 16 reduced 10 sold out net bought ≈ $2.3m (+1.2m shares)

* 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. Holder counts are more reliable. Shares outstanding: 55.5m as of 2025-11-03, 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 ≈ $1.85.

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0255075Q1 23: 9Q2 23: 12Q3 23: 16Q4 23: 13Q1 24: 21Q2 24: 38Q3 24: 47Q4 24: 55Q1 25: 65Q2 25: 56Q3 25: 5454Q1 23Q3 23Q1 24Q3 24Q1 25Q3 25
Numbers
QuarterHolders
Q1 20239
Q2 202312
Q3 202316
Q4 202313
Q1 202421
Q2 202438
Q3 202447
Q4 202455
Q1 202565
Q2 202556
Q3 202554

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
40040Q4 23: 6 bought or addedQ4 23: 6 cut or sold outQ1 24: 13 bought or addedQ1 24: 3 cut or sold outQ1 24Q2 24: 30 bought or addedQ2 24: 5 cut or sold outQ3 24: 29 bought or addedQ3 24: 7 cut or sold outQ3 24Q4 24: 32 bought or addedQ4 24: 13 cut or sold outQ1 25: 32 bought or addedQ1 25: 19 cut or sold outQ1 25Q2 25: 25 bought or addedQ2 25: 36 cut or sold outQ3 25: 23 bought or addedQ3 25: 26 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 202366
Q1 2024133
Q2 2024305
Q3 2024297
Q4 20243213
Q1 20253219
Q2 20252536
Q3 20252326

Biggest buyers

FIRST MANHATTAN CO. LLC. Added +1,331,200+1.3m
KIECKHEFER GROUP LLC Added +110,000+110.0k
GOLDMAN SACHS GROUP INC Added +77,845+77.8k
VANGUARD GROUP INC Added +59,482+59.5k
GEODE CAPITAL MANAGEMENT, LLC Added +35,154+35.2k
Centiva Capital, LP New +28,673+28.7k
CLIFFORD SWAN INVESTMENT COUNSEL LLC New +12,544+12.5k
TWO SIGMA SECURITIES, LLC New +12,279+12.3k
NORTHERN TRUST CORP Added +11,173+11.2k
WELLS FARGO & COMPANY/MN Added +10,132+10.1k

Biggest sellers

UBS Group AG Reduced -154,872-154.9k
MILLENNIUM MANAGEMENT LLC Reduced -62,718-62.7k
CITADEL ADVISORS LLC Sold out -54,736-54.7k
AQR CAPITAL MANAGEMENT LLC Sold out -39,832-39.8k
JANE STREET GROUP, LLC Sold out -38,000-38.0k
MARSHALL WACE, LLP Reduced -24,031-24.0k
LPL Financial LLC Reduced -23,100-23.1k
Virtu Financial LLC Sold out -13,785-13.8k
CAPTRUST FINANCIAL ADVISORS Reduced -13,282-13.3k
XTX Topco Ltd Sold out -13,256-13.3k

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.

HolderStakeChangeShares Last filed
FIRST MANHATTAN CO. LLC. 13G · institution +3.4 pts · filed 2026-04-08 10.3% +3.4 pts 5.8m≈ $11.1m 2026-04-08

Fell to 5% or below in the last year: LMR Partners LLP (3.8%, 2026-05-15)

Insider purchases and sales in Q3 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)

BuyingSelling
404Q4 23: 0 buyingQ4 23: 0 sellingQ1 24: 0 buyingQ1 24: 0 sellingQ1 24Q2 24: 0 buyingQ2 24: 0 sellingQ3 24: 0 buyingQ3 24: 3 sellingQ3 24Q4 24: 0 buyingQ4 24: 0 sellingQ1 25: 0 buyingQ1 25: 0 sellingQ1 25Q2 25: 0 buyingQ2 25: 0 sellingQ3 25: 0 buyingQ3 25: 0 sellingQ3 25
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q4 20230—0——
Q1 20240—0——
Q2 20240—0——
Q3 20240—3$280.0k—
Q4 20240—0——
Q1 20250—0——
Q2 20250—0——
Q3 20250—0——

None reported in Q3 2025.

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Blackstone Inc. 0.08% of their portfolio NEW YORK, NY 9,624,6109.6m $17.8m $17.8m 0.08% Unchanged
2 FIRST MANHATTAN CO. LLC. 0.02% of their portfolio NEW YORK, NY 3,842,1803.8m $7.1m $7.1m 0.02% Added +1.3m +1,331,200
3 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 809,615809.6k $1.5m $1.5m 0.00% Added +59.5k +59,482
4 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 687,494687.5k $1.3m $1.3m 0.00% Reduced -7.3k -7,314
5 FLPUTNAM INVESTMENT MANAGEMENT CO 0.02% of their portfolio PORTLAND, ME 657,702657.7k $1.2m $1.2m 0.02% Unchanged
6 KIECKHEFER GROUP LLC 0.25% of their portfolio MEQUON, WI 284,500284.5k $526.3k $526.3k 0.25% Added +110.0k +110,000
7 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 283,745283.7k $524.9k $524.9k 0.00% Unchanged
8 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 278,642278.6k $515.7k $515.7k 0.00% Added +35.2k +35,154
9 Peterson Wealth Advisors, LLC 0.06% of their portfolio Orem, UT 233,323233.3k $401.3k $401.3k 0.06% Unchanged
10 BlackRock, Inc. 0.00% of their portfolio New York, NY 231,517231.5k $428.3k $428.3k 0.00% Added +5.6k +5,644
11 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 221,254221.3k $409.3k $409.3k 0.00% Added +77.8k +77,845
12 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 215,554215.6k $398.8k $398.8k 0.00% Reduced -1.1k -1,074
13 Mill Creek Capital Advisors, LLC 0.01% of their portfolio Conshohocken, PA 194,934194.9k $360.6k $360.6k 0.01% Unchanged
14 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 153,192153.2k $283.4k $283.4k 0.00% Reduced -24.0k -24,031
15 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 139,247139.2k $257.6k $257.6k 0.00% Added +2.2k +2,159
16 HighMark Wealth Management LLC 0.09% of their portfolio ST. PAUL, MN 110,162110.2k $203.8k $203.8k 0.09% Unchanged
17 BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.00% of their portfolio HOUSTON, TX 76,70076.7k $141.9k $141.9k 0.00% Unchanged
18 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 76,68076.7k $141.9k $141.9k 0.00% Unchanged
19 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 68,00568.0k $125.8k $125.8k 0.00% Added +11.2k +11,173
20 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 59,22559.2k $109.6k $109.6k 0.00% Reduced -62.7k -62,718
21 UBS Group AG 0.00% of their portfolio ZURICH, V8 58,15758.2k $107.6k $107.6k 0.00% Reduced -154.9k -154,872
22 Apollon Wealth Management, LLC 0.00% of their portfolio MOUNT PLEASANT, SC 39,00039.0k $72.2k $72.2k 0.00% Added +10.0k +10,000
23 Centiva Capital, LP 0.00% of their portfolio New York, NY 28,67328.7k $53.0k $53.0k 0.00% New
24 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 19,74319.7k $36.5k $36.5k 0.00% Reduced -23.1k -23,100
25 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 17,68017.7k $32.7k $32.7k 0.00% Added +3.0k +3,000
26 FMR LLC 0.00% of their portfolio BOSTON, MA 16,88116.9k $31.2k $31.2k 0.00% Reduced -111 -111
27 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 15,50015.5k $28.7k $28.7k 0.00% Added +10.1k +10,132
28 SCRATCH CAPITAL LLC 0.02% of their portfolio BOISE, ID 13,60713.6k $25.2k $25.2k 0.02% Unchanged
29 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 13,48213.5k $26.7k $26.7k 0.00% Added +2.5k +2,500
30 CLIFFORD SWAN INVESTMENT COUNSEL LLC 0.00% of their portfolio PASADENA, CA 12,54412.5k $23.2k $23.2k 0.00% New
31 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 12,50012.5k $23.1k $23.1k 0.00% Unchanged
32 TWO SIGMA SECURITIES, LLC 0.00% of their portfolio NEW YORK, NY 12,27912.3k $22.7k $22.7k 0.00% New
33 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 10,75510.8k $19.9k $19.9k 0.00% Reduced -13.3k -13,282
34 First PREMIER Bank 0.00% of their portfolio SIOUX FALLS, SD 10,00010.0k $19.0k $19.0k 0.00% Unchanged
35 Cubist Systematic Strategies, LLC 0.00% of their portfolio STAMFORD, CT 8,0758.1k $14.9k $14.9k 0.00% New
36 Coston, McIsaac & Partners 0.00% of their portfolio BAR HARBOR, ME 6,3006.3k $11.0k $11.0k 0.00% New
37 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 5,7165.7k $10.6k $10.6k 0.00% Added +5.5k +5,462
38 Point72 Asia (Singapore) Pte. Ltd. 0.00% of their portfolio SINGAPORE, U0 3,9253.9k $7.3k $7.3k 0.00% New
39 Federation des caisses Desjardins du Quebec 0.00% of their portfolio LEVIS, A8 2,0402.0k $3.7k $3.7k 0.00% New
40 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 2,0072.0k $3.7k $3.7k 0.00% Reduced -2 -2
41 SBI Securities Co., Ltd. 0.00% of their portfolio TOKYO, M0 1,8571.9k $3.4k $3.4k 0.00% Reduced -1.6k -1,572
42 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 998998 $1.8k $1.8k 0.00% Added +989 +989
43 NISA INVESTMENT ADVISORS, LLC 0.00% of their portfolio ST. LOUIS, MO 522522 $966 $966 0.00% Unchanged
44 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 493493 $1.0k $1.0k 0.00% Reduced -2.4k -2,353
45 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 468468 $866 $866 0.00% Unchanged
46 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 392392 $725 $725 0.00% Reduced -921 -921
47 EverSource Wealth Advisors, LLC 0.00% of their portfolio BIRMINGHAM, AL 309309 $572 $572 0.00% Reduced -143 -143
48 CWM, LLC 0.00% of their portfolio OMAHA, NE 232232 $0 $0 0.00% Reduced -3.4k -3,377
49 Point72 (DIFC) Ltd 0.00% of their portfolio DUBAI, C0 170170 $315 $315 0.00% New
50 Arax Advisory Partners 0.00% of their portfolio NEW YORK, NY 144144 $266 $266 0.00% New
51 True Wealth Design, LLC 0.00% of their portfolio AKRON, OH 3434 $63 $63 0.00% Reduced -135 -135
52 Private Wealth Management Group, LLC 0.00% of their portfolio PRINCETON, NJ 3030 $56 $56 0.00% Unchanged
53 Essential Partners LLC 0.00% of their portfolio RANCHO SANTA FE, CA 1313 $24 $24 0.00% Reduced -97 -97
54 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 11 $2 $2 0.00% Unchanged