AQR discloses 5.59% Bath & Body Works (NYSE: BBWI) stake

Rhea-AI Filing Summary

Bath & Body Works, Inc. received a Schedule 13G showing that AQR Capital Management, LLC and AQR Capital Management Holdings, LLC beneficially own 11,445,928 shares of common stock, representing 5.59% of the class as of 12/31/2025.

The AQR entities report shared power to vote and dispose of all these shares, with no sole voting or dispositive power. They certify the position was acquired and is held in the ordinary course of business and not for the purpose of changing or influencing control of Bath & Body Works.

Insights

Institutional ownership analyst

AQR reports a 5.59% passive stake in Bath & Body Works.

The filing shows AQR Capital Management, LLC and its parent holding company jointly beneficially owning 11,445,928 Bath & Body Works common shares, equal to 5.59% of the outstanding class as of 12/31/2025. Voting and disposition authority is reported as fully shared between the two entities.

The certification states the position is held in the ordinary course of business and not to change or influence control. This aligns with a passive institutional holding rather than an activist position. Future ownership reports in later periods may indicate whether this stake increases, decreases, or remains stable.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Bath & Body Works, Inc.

(Name of Issuer)

Common Stock, $0.50 Par Value

(Title of Class of Securities)

070830104

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 070830104

1

Names of Reporting Persons

AQR Capital Management, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 11,445,928.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 11,445,928.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

11,445,928.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.59 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 070830104

1

Names of Reporting Persons

AQR Capital Management Holdings, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 11,445,928.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 11,445,928.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

11,445,928.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.59 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Bath & Body Works, Inc.
(b)	Address of issuer's principal executive offices: THREE LIMITED PKWY, P O BOX 16000, COLUMBUS, OHIO 43230
Item 2.
(a)	Name of person filing: AQR Capital Management, LLC AQR Capital Management Holdings, LLC
(b)	Address or principal business office or, if none, residence: ONE GREENWICH PLAZA SUITE 130 Greenwich, Connecticut 06830
(c)	Citizenship: AQR Capital Management, LLC - UNITED STATES AQR Capital Management Holdings, LLC - UNITED STATES
(d)	Title of class of securities: Common Stock, $0.50 Par Value
(e)	CUSIP No.: 070830104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 11,445,928
(b)	Percent of class: 5.59 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: AQR Capital Management, LLC - 0 AQR Capital Management Holdings, LLC - 0
	(ii) Shared power to vote or to direct the vote: AQR Capital Management, LLC - 11,445,928 AQR Capital Management Holdings, LLC - 11,445,928
	(iii) Sole power to dispose or to direct the disposition of: AQR Capital Management, LLC - 0 AQR Capital Management Holdings, LLC - 0
	(iv) Shared power to dispose or to direct the disposition of: AQR Capital Management, LLC - 11,445,928 AQR Capital Management Holdings, LLC - 11,445,928
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Item 2(a) above.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

AQR Capital Management, LLC

Signature:	Henry Parkin
Name/Title:	Authorized Signatory
Date:	02/13/2026

AQR Capital Management Holdings, LLC

Signature:	Henry Parkin
Name/Title:	Authorized Signatory
Date:	02/13/2026

Exhibit Information

AQR Capital Management Holdings, LLC and AQR Capital Management, LLC hereby agree that this Schedule 13G is filed on behalf of each of the parties. AQR Capital Management, LLC is a wholly owned subsidiary of AQR Capital Management Holdings, LLC.

FAQ

What percentage of Bath & Body Works (BBWI) does AQR own?

AQR Capital Management, LLC and its parent report beneficial ownership of 5.59% of Bath & Body Works’ common stock, equal to 11,445,928 shares as of December 31, 2025. This crossing of the 5% threshold triggers the Schedule 13G disclosure requirement.

How many Bath & Body Works (BBWI) shares does AQR beneficially own?

AQR Capital Management, LLC and AQR Capital Management Holdings, LLC beneficially own 11,445,928 Bath & Body Works common shares. They report shared voting and shared dispositive power over this entire amount, with no sole voting or sole dispositive authority over any shares.

Is AQR’s Bath & Body Works (BBWI) stake an activist position?

AQR certifies the Bath & Body Works stake was acquired and held in the ordinary course of business and not for the purpose of changing or influencing control. That language characterizes the position as passive rather than activist under Schedule 13G reporting standards.

Which AQR entities are reporting ownership in Bath & Body Works (BBWI)?

The filing lists AQR Capital Management, LLC and AQR Capital Management Holdings, LLC as reporting persons. It notes that AQR Capital Management, LLC is a wholly owned subsidiary of AQR Capital Management Holdings, LLC, and both report identical ownership figures.

What voting power does AQR have over its Bath & Body Works (BBWI) shares?

AQR Capital Management, LLC and its parent each report 0 shares with sole voting power and 11,445,928 shares with shared voting power. They similarly report no sole dispositive power and shared dispositive power over the same 11,445,928 shares.

When was AQR’s Bath & Body Works (BBWI) ownership measured for this filing?

The Schedule 13G states the date of event requiring the filing as December 31, 2025. The reported ownership of 11,445,928 shares, representing 5.59% of the common stock, is measured as of that date for disclosure purposes.