Bridger Dumps 301,000 Bath & Body Works Shares Worth $7.7 Million
Key Points
Sold 300,619 BBWI shares; estimated trade value ~$7.74 million based on quarterly average pricing.
Net position value change was $7.74 million, reflecting both trading activity and price movements.
Represents a 4.98% change in 13F reportable AUM.
Post-trade: 0 shares held, $0 position value.
Exiting a stake previously at 4.2% of AUM.
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On February 17, 2026, Bridger Management, LLC disclosed in a U.S. Securities and Exchange Commission (SEC) filing that it sold all of its Bath & Body Works (NYSE:BBWI) shares in the fourth quarter.
What happened
According to an SEC filing dated February 17, 2026, Bridger Management, LLC sold all 300,619 shares of Bath & Body Works during the fourth quarter. The estimated transaction value was $7.74 million, calculated using the average price for the quarter.
What else to know
- Top holdings after the filing:
- NYSE:MS: $24.27 million (15.6% of AUM)
- NASDAQ:AMZN: $15.30 million (9.8% of AUM)
- NYSE:TEVA: $11.47 million (7.4% of AUM)
- NYSE:NKE: $11.45 million (7.4% of AUM)
- NYSE:ALC: $8.53 million (5.5% of AUM)
- As of February 17, 2026, shares were priced at $24.67, down 32.3% over one year, underperforming the S&P 500 by 38.07 percentage points.
- Fund downsizing: total 13F AUM shrank by 16% quarter-over-quarter.
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $7.35 billion |
| Net Income (TTM) | $699.00 million |
| Dividend Yield | 3.24% |
| Price (as of market close 2/17/26) | $24.67 |
Company Snapshot
- Offers home fragrance, body care, soaps, and sanitizer products under the Bath & Body Works and White Barn brands through retail stores and e-commerce channels.
- Generates revenue primarily from direct-to-consumer sales in company-operated stores and online, supplemented by international franchise, license, and wholesale arrangements.
- Targets retail consumers in the United States and Canada, with additional reach through international partners.
Bath & Body Works, Inc. is a leading specialty retailer with a focus on personal care and home fragrance products, operating a broad network of company-operated and partner stores.
What this transaction means for investors
Bridger Management has sold out of Bath & Body Works stock at a difficult time for the company.
The fund had held shares of the stock since the second quarter of 2023. Its performance struggled during the time Bridger owned it before the stock price began to crater as the fund sold it.
Historically, the company had stood out in this highly competitive market with brand loyalty, a robust supply chain, and omnichannel retailing.
However, in recent years, sales levels have stagnated amid shifting buying patterns and falling popularity with Gen Z. In Q3, these trends culminated with the company lowering its guidance for the remainder of 2025 and analysts forecasting lower sales in 2026.
Indeed, amid a low valuation, Bath & Body Works stock staged a modest rebound beginning in late 2025. Still, even with a P/E ratio of less than 8, the fund decided to close its position, indicating Bridger did not have a high degree of faith in a rebound for the retail stock.
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Will Healy has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon and Nike. The Motley Fool has a disclosure policy.
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