BFH at a glance
BREAD FINANCIAL HOLDINGS, INC. (BFH, SEC CIK 1101215) filed its latest 10-K annual report on February 13, 2026, a 10-Q quarterly report on July 28, 2026, an 8-K current report on September 15, 2026 and Form 4 insider filings as recently as September 16, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), BREAD FINANCIAL HOLDINGS, INC. (BFH) reported revenue of $3.8 billion (up 0.2% from FY2024) and net income of $518.0 million. Diluted EPS was $10.89.
- As of June 30, 2026, 31 institutional investment managers tracked by SignalX reported holding BREAD FINANCIAL HOLDINGS, INC. (BFH) shares worth $2.1 billion in 13F-HR filings.
- The most recent insider open-market purchase reported on Form 4 was by McCarthy Dennis James on September 14, 2026 of 16 shares at $108.14 per share.
- In the last 90 days, BFH insiders reported 1 open-market purchase ($2K) and 1 open-market sale ($297K) on Form 4, a net sale of $296K.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $3.8B
- +0.2% vs prior year
- Insiders · 90 days
- 1 buy · 1 sell
- Net −$296K
- 13F holders
- 31 funds
- $2.1B · +0 vs prior quarter
- Latest 8-K
- Sep 15, 2026
- Item 7.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business model: Credit card issuance and servicing with associated financial services
- Strategic outsourcing of credit card processing services initiated June 2022, with FDIC consent order issued Nov 2023 on IT and compliance shortcomings
- Capital ratios: Common equity tier 1 at 13.0% (2025) vs 12.4% (2024), total capital $3.31B with subordinated notes increased by $400M in 2025
- Allowance for credit losses sensitive to assumptions; 100 bps increase could change reserve by ~$184M
- No goodwill impairment indicated in 2025 annual qualitative assessment despite valuation uncertainties
Risk Factors
- No geopolitical or macroeconomic threat with concrete exposure detailed in risk_factors section
- Cybersecurity risk oversight by Board Risk & Technology Committee, Audit Committee reviews major financial risk exposures
- No competitive or market disruption risk with named competitor or technology detailed in risk_factors section
- Management team with CISO, CRO, CORO responsible for cybersecurity risk management, CISO reports to EVP and CTO with 25 years experience
Management Discussion & Analysis
- Revenue $3,845M in 2025, flat YoY (+$7M vs $3,838M in 2024), down 11% from 2023 ($4,289M)
- Operating margin approx. 16.0% in 2025 (Income from continuing ops $521M / Revenue $3,845M) vs 7.3% in 2024 ($279M/$3,838M)
- Best performing segment: Direct-to-consumer deposits growth 11% to $8,523M; worst, Credit card and other loans down 1% to $17,850M average balance
- Cash flow/use: Declared dividend $0.86/share (up 2%), total non-interest expenses down 3% to $1,988M; repurchased debt cost impact $74M (2025) reducing expenses
- Forward outlook: Management cautious on macro risks, maintaining prudent credit loss reserves (11.2% reserve rate), emphasizing liquidity and capital adequacy amidst inflation and unemployment uncertainties
AI summary of the BFH 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Quarterly revenue $993M, up 7% YoY from $929M
- Net interest margin 18.49% vs 17.71%; efficiency ratio 48.6% vs 51.8%
- Credit sales $7.537B, up 11% YoY; loans $18.197B, up 3%
- DTC deposits $9.357B, up 16%; $241M common-stock repurchases and $135M preferred issuance
- 2026 outlook: loans and revenue up low- to mid-single digits; net principal loss rate 7.0%–7.1%
Risk Factors
- No material changes to 2025 Form 10-K risk factors disclosed
- Additional unidentified risks potentially becoming material and adversely affecting business
- Business-environment trends and uncertainties referenced in MD&A
- Preferred-stock exposure: 8.875% Series B non-cumulative perpetual preferred stock filed May 12, 2026
- Share-repurchase liquidity: $449 million remaining under repurchase plans at June 30, 2026
AI summary of the BFH 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 7.01: Regulation FD Disclosure
- Bread Financial issued a performance update covering results through August 31, 2026
- Exhibit 99.1 contains the disclosed operating and financial details for investor review
Item EX-99.1: Item EX-99.1
- August average loans $18.588B, up 5.6% year over year, indicating portfolio growth
- Net principal loss rate improved to 6.40% from 7.57%, with losses declining to $101M from $113M
Item 1.01: Entry into a Material Definitive Agreement
- Regulatory approvals received July 31, 2026 for Comenity Bank merger into Comenity Capital Bank
- Merger expected around October 1, 2026, pending waiting periods and customary closing conditions
Item 7.01: Regulation FD Disclosure
- Bread Financial issued a performance update covering the period ended July 31, 2026
- Exhibit 99.1 contains the substantive financial and operating results for investor review
Item EX-99.1: Item EX-99.1
- July average loans $18.449B, up 4.9% year over year, indicating continued portfolio growth
- Net principal losses $106M; loss rate improved to 6.80% from 7.63%
AI summaries of BFH 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for BFH
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| McCarthy Dennis James | Buy | Sep 14, 2026 | 15.89 | $108.14 |
| Lakhwara Praniti | Sell | Jul 28, 2026 | 2,802 | $106.12 |
| Gerspach John C | A | Jul 15, 2026 | 730 | - |
| Gerspach John C | A | Jun 15, 2026 | 1,638 | - |
| TURNEY SHAREN J | A | Jun 15, 2026 | 1,638 | - |
| Fawcett John J. | A | Jun 15, 2026 | 1,638 | - |
| Lakhwara Praniti | A | Jun 15, 2026 | 1,638 | - |
| Tucker Laurie Anne | A | Jun 15, 2026 | 1,638 | - |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|
| Profitability | ||||
| Revenue | $4.3B | $3.8B | $3.8B | |
| Net Income | $718.0M | $277.0M | $518.0M | |
| Net Margin | 16.7% | 7.2% | 13.5% | |
| Balance Sheet | ||||
| Total Assets | $23.1B | $22.9B | $22.7B | |
| Equity | $2.9B | $3.1B | $3.3B | |
| ROE | 24.6% | 9.1% | 15.6% | |
| Per Share | ||||
| EPS | $14.34 | $5.49 | $10.89 | |
| Cash Flow | ||||
| Operating CF | $2.0B | $1.9B | $2.1B | |
Source: XBRL data in BREAD FINANCIAL HOLDINGS, INC. (BFH)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate BFH share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 31 | $2.05B |
| Q1 2026 | 31 | $1.51B |
| Q4 2025 | 29 | $1.50B |
| Q3 2025 | 31 | $1.24B |
| Q2 2025 | 30 | $1.27B |
| Q1 2025 | 25 | $874.7M |
| Q4 2024 | 23 | $960.8M |
| Q3 2024 | 20 | $471.3M |
- Wells Fargo & Co+141.0K (+271%)
- Millennium Management+124.5K (+69%)
- Goldman Sachs Group+9.1K (+1%)
- Dimensional Fund Advisors+6.1K (+0%)
- T. Rowe Price Group+5.4K (+10%)
- BlackRock−336.2K (-8%)
- Franklin Resources−326.3K (-28%)
- Vanguard Portfolio Management LLC−134.5K (-5%)
- Vanguard Capital Management LLC−111.7K (-6%)
- State Street Corp−83.1K (-5%)
- Truist Financial+2.4K
- Mangrove Partners+2.1K
- Citadel Advisors LLC−147.2K
- Bridgewater Associates LP−10.3K
Source: 13F-HR filings on SEC EDGAR (aggregated from 220 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
BFH filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Sep 16, 2026 | - | - | - |
| 8-K | Sep 15, 2026 | - | Analysis | - |
| 8-K | Sep 8, 2026 | - | Analysis | - |
| 8-K | Aug 17, 2026 | - | Analysis | - |
| 4 | Jul 29, 2026 | - | - | - |
| 10-Q | Jul 28, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Jul 23, 2026 | - | Analysis | - |
| 8-K | Jul 23, 2026 | - | Analysis | - |
| 4 | Jul 17, 2026 | - | - | - |
| 8-K | Jul 14, 2026 | - | Analysis | - |
| 4 | Jun 17, 2026 | - | - | - |
| 4 | Jun 17, 2026 | - | - | - |
| 4 | Jun 17, 2026 | - | - | - |
| 4 | Jun 17, 2026 | - | - | - |
| 4 | Jun 17, 2026 | - | - | - |
| 4 | Jun 17, 2026 | - | - | - |
| 4 | Jun 17, 2026 | - | - | - |
| 4 | Jun 17, 2026 | - | - | - |
| 8-K | Jun 10, 2026 | - | Analysis | |
| 4 | Jun 1, 2026 | - | - | |
| 8-K | May 22, 2026 | - | Analysis | |
| 4 | May 22, 2026 | - | - | |
| 8-K | May 15, 2026 | - | Analysis | |
| 8-K | May 12, 2026 | - | Analysis | |
| 8-K | May 6, 2026 | - | Analysis |
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BFH SEC filings: frequently asked questions
Are BFH insiders buying or selling?
In the last 90 days, BREAD FINANCIAL HOLDINGS, INC. (BFH) officers, directors and 10% owners reported 1 open-market purchase worth $1,718 by 1 insider and 1 open-market sale worth $297,348 by 1 insider on Form 4, a net sale of $295,630. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold BFH stock?
As of June 30, 2026, the largest BREAD FINANCIAL HOLDINGS, INC. (BFH) holders among the 13F filers tracked by SignalX were BlackRock ($421.3 million), Dimensional Fund Advisors ($335.0 million), Vanguard Portfolio Management LLC ($284.1 million), Vanguard Capital Management LLC ($190.4 million), State Street Corp ($182.2 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was BFH's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), BREAD FINANCIAL HOLDINGS, INC. (BFH) reported revenue of $3.8 billion (up 0.2% from FY2024) and net income of $518.0 million. Diluted EPS was $10.89. The figures come from the XBRL data in the 10-K.
What are the main risks in BFH's latest 10-K?
In the 10-K filed February 13, 2026, BREAD FINANCIAL HOLDINGS, INC. (BFH) flagged: No geopolitical or macroeconomic threat with concrete exposure detailed in risk_factors section. Cybersecurity risk oversight by Board Risk & Technology Committee, Audit Committee reviews major financial risk exposures. (AI summary of the Risk Factors section.)
What did BFH report in its latest 8-K?
BREAD FINANCIAL HOLDINGS, INC. (BFH) filed an 8-K on September 15, 2026 reporting Item 7.01 (Regulation FD Disclosure). Bread Financial issued a performance update covering results through August 31, 2026.
What are the latest BFH SEC filings?
BREAD FINANCIAL HOLDINGS, INC. (BFH) filed its latest 10-K annual report on February 13, 2026, a 10-Q quarterly report on July 28, 2026, an 8-K current report on September 15, 2026 and a Form 4 insider filing on September 16, 2026.
What is BFH's SEC CIK number?
BREAD FINANCIAL HOLDINGS, INC. (BFH)'s SEC Central Index Key (CIK) is 1101215. EDGAR lists every BFH filing under that number.
Ask anything about BFH
The research agent reads BFH's filings, financials, insider trades and 13F holders, then answers with sources.