Best Buy (NYSE: BBY) is one of the largest consumer electronics retailers in the U.S., selling TVs, appliances, computers, and mobile devices across hundreds of locations nationwide. Shares recently traded around $70 per share, giving the company a market value of roughly $14.6B.
Best Buy’s stock is down about 19.7% over the past year, reflecting softer consumer demand and a slower discretionary spending environment.
Looking at who owns Best Buy and how insiders have been trading helps show how large investors and company leadership appear to be positioning today.
Who Are Best Buy’s Top Shareholders?
Best Buy’s shareholder base is led by large passive institutions, which tend to hold through market cycles and support long-term ownership stability. Active managers have adjusted positions in both directions, pointing to mixed views on valuation and near-term earnings visibility.
- The Vanguard Group: 23,848,677 shares (11.38%), $1.66B value. Added 549,192 shares (+2.36%).
- BlackRock Institutional Trust: 15,982,540 shares (7.63%), $1.11B value. Cut 2,621 shares.
- Richard M. Schulze: 15,112,851 shares (7.21%), $1.05B value. Cut 901,434 shares (5.63%).
- State Street Investment Management: 13,336,711 shares (6.36%), $930M value. Cut 294,718 shares (2.16%).
- Charles Schwab Investment Management: 7,291,929 shares (3.48%), $509M value. Added 253,423 shares (+3.60%).
- AQR Capital Management: 6,997,871 shares (3.34%), $488M value. Added 3,496,254 shares (+99.85%).
- Geode Capital Management: 5,209,966 shares (2.49%), $363M value. Added 165,178 shares (+3.27%).
For investors, this ownership mix suggests Best Buy remains anchored by long-term institutional holders, while active managers continue to debate whether the current valuation fully reflects slower growth and margin pressure.
Hedge Fund Highlights
Hudson Bay Capital Management, founded by Sander Gerber, significantly increased its exposure to Best Buy, boosting its position by over 3,100% to roughly $9M value. It appears the firm may be positioning for a rebound following the stock’s extended pullback.
Two Sigma Advisors, co-founded by John Overdeck, also raised its stake by more than 1,100%, bringing its position to about $16M value. This type of move often reflects quantitative models responding to valuation or volatility signals rather than a discretionary fundamental shift.
Shellback Capital, led by Jon Hilsabeck, increased its Best Buy position by roughly 750%, now holding about $18M value. The increase suggests the firm may be seeing improving risk-reward dynamics at current price levels.
Schonfeld Strategic Advisors, founded by Steven Schonfeld, boosted its position by about 240% to just over $4M value, indicating selective interest from multi-strategy funds.
For investors, hedge fund activity appears constructive but mixed, suggesting growing interest at lower prices without a clear consensus on how quickly earnings and margins may stabilize.
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Best Buy’s Recent Insider Trades
Insider trades can offer useful context on how executives and directors may be managing personal exposure at current price levels. Recent filings for Best Buy show mostly selling activity, alongside a few small purchases.
- Richard M. Schulze: Sold several hundred thousand shares across multiple transactions between October 20 and October 29 at prices mostly between $82 and $85.
- Ashok Jitendra Dyal: Bought 1,266 shares, ~$90K value.
- Meghan Frank: Bought 2,007 shares, ~$140K value.
- Kathleen Scarlett: Sold 417 shares, ~$29K value.
It appears insider activity is tilted toward selling in dollar terms, though a few small director purchases may reflect confidence at current levels rather than a broad signal.
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What the Ownership & Insider Trade Data Tell Us
Best Buy’s ownership remains supported by large passive institutions, while hedge funds and active managers show mixed positioning. Insider activity looks cautious overall, with selling outweighing buying but limited in breadth.
For investors, the data suggests Best Buy continues to be viewed as a mature retailer with dependable cash flow, though confidence appears measured as the company navigates a slower consumer spending environment and ongoing margin pressure.
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