Exploring Helen of Troy Limited (HELE) Investor Profile: Who’s Buying and Why?

You're looking at Helen of Troy Limited (HELE) and wondering who is actually holding the bag, especially after a challenging fiscal year 2025 where consolidated net sales revenue clocked in at $1.908 billion, a nearly 5% decline from the prior year. The short answer is that the stock is overwhelmingly controlled by institutions, which own about 99.71% of the shares, meaning the big money is making the key decisions here, not retail investors. For instance, giants like BlackRock, Inc. hold a substantial position with over 3.44 million shares, representing a 14.94% stake, and Vanguard Group Inc. holds another 9.30%. But here's the rub: while institutional ownership is high, there's been significant movement; you see firms like Vanguard Group Inc. reducing their position by almost 19% recently, while others like D. E. Shaw & Co., Inc. were net buyers, adding over 526,000 shares as of late Q3 2025. So, what are these sophisticated players seeing-a deep value play after the stock's significant drop, or a consumer staples business that's still navigating a tough consumer spending environment, even with a projected full-year adjusted diluted EPS between $7.15 and $7.40? Let's dig into the 13F filings (institutional holdings reports) to map out the current risk-reward calculus and see who's buying the dip and who's heading for the exit.

Who Invests in Helen of Troy Limited (HELE) and Why?

The investor profile for Helen of Troy Limited (HELE) is a classic mix of long-term passive holders and aggressive value-seeking funds, all betting on a successful operational turnaround. You see a clear divergence: index funds hold it for its market position, but activist and value managers are buying it cheap, expecting a major rebound from the stock's significant decline of over 73% between November 2024 and November 2025.

The primary buyers are institutional players, who own the vast majority of the company. As of late September 2025, institutional investors held approximately 29,735,324 shares, which is actually more than the 23.03 million shares outstanding, a common occurrence due to various reporting and security types. Insiders-executives and directors-also hold a meaningful stake, controlling about 16.67% or 3.83 million shares, which is a good sign that management's interests are aligned with yours.

Key Investor Types and Their Footprint

The ownership structure is dominated by three main types of institutional capital: passive index funds, active value managers, and sophisticated hedge funds. Each group has a different reason for holding Helen of Troy Limited, especially given the stock's volatility and low price point of around $17.55 per share in November 2025.

• Passive Institutional Funds: These are the largest holders, primarily BlackRock, Inc. and Vanguard Group Inc. They own Helen of Troy Limited not because an analyst picked it, but because the stock is part of a major index, like the S&P SmallCap 600. BlackRock, Inc. held the largest stake at 3,440,904 shares as of September 30, 2025, and Vanguard Group Inc. held 2,141,722 shares. Their strategy is simple: hold the stock for the long haul, regardless of near-term noise.
• Active Value Managers: Firms like Pzena Investment Management Llc, which held over 1,010,756 shares in Q3 2025, are classic value investors. They seek companies that are temporarily underperforming their historical earnings power. The recent decline in consolidated net sales-down 3.4% to $530.7 million in Q3 Fiscal Year 2025-makes Helen of Troy Limited a prime deep-value candidate. They are buying the turnaround story.
• Hedge Funds and Quant Firms: The presence of a quantitative powerhouse like D. E. Shaw & Co., Inc., with 948,186 shares, suggests a more systematic or event-driven trade. These firms use complex models to exploit short-term market inefficiencies or bet on specific corporate events, such as the Project Pegasus restructuring plan. They are playing the volatility and the margin recovery story.

Here's the quick math on top institutional holders as of September 30, 2025:

Investment Motivations: The Turnaround Thesis

Investors are not buying Helen of Troy Limited for income; the company has not paid a regular dividend since 1977. Instead, the motivation is a pure capital appreciation play based on a successful operational pivot.

The core thesis is that the company's strategic initiatives will restore profitability and growth. The major catalyst is Project Pegasus, a multi-year restructuring program targeting annualized pre-tax operating profit improvements of $75 million to $85 million. Management expects to realize approximately 35% of those savings in Fiscal Year 2025 alone. This is what the value funds are focused on: buying ahead of the profit recovery.

Also, the acquisition of the Olive & June nail care brand is expected to be immediately accretive, adding an estimated $0.05 to $0.07 to adjusted diluted EPS in the fourth quarter of Fiscal Year 2025. This is a defintely a concrete, near-term boost to earnings that helps stabilize the bottom line, which was a Q3 FY2025 Adjusted Diluted EPS of $2.67. You can read more about the strategic direction in the Mission Statement, Vision, & Core Values of Helen of Troy Limited (HELE).

Strategies: Betting on the Reversion to the Mean

The strategies are all about betting on a 'reversion to the mean,' meaning the stock price will eventually reflect the company's strong portfolio of brands like OXO, Hydro Flask, and Vicks, once the operational issues are resolved.

• Value Investing: The active value approach means a long-term holding period, often three to five years, waiting for the market to re-rate the stock once Project Pegasus delivers consistent margin improvement. They are comfortable with the current debt load and net leverage ratio, viewing the low price as a temporary discount.
• Short-Term/Event-Driven Trading: The quantitative hedge funds are likely trading around the quarterly earnings reports and news flow related to the restructuring. They might be looking for a short-term pop if the company beats its adjusted EBITDA outlook, which was in the range of $292 million to $295 million for Fiscal Year 2025.

The key action for you is to monitor the execution of Project Pegasus and the resulting gross margin expansion. If the company hits its cost-saving targets, the value thesis holds up, and the stock price has a long way to climb.

Institutional Ownership and Major Shareholders of Helen of Troy Limited (HELE)

You're looking at Helen of Troy Limited (HELE) because you want to know which big players are betting on its brands-OXO, Hydro Flask, Vicks-and why. The direct takeaway is that while institutional ownership remains high, the recent distribution of shares shows a clear divergence in sentiment, with some major funds aggressively selling while others see a deep-value opportunity.

As of late 2025, institutional investors-the mutual funds, pension funds, and endowments-collectively hold a significant stake in Helen of Troy. The company reports having 474 institutional owners who control a total of 29,735,324 shares. This level of concentration means their trading activity defintely drives the stock's volatility, which is important given the stock price dropped 73.19% between November 2024 and November 2025, trading at around $17.55 per share.

Top Institutional Investors and Their Stakes

The largest institutional holders are exactly who you'd expect: the giants of asset management. These firms often hold shares passively through index funds (like Vanguard and BlackRock), but their sheer size gives them enormous influence. Here's a quick look at the top holders and their positions as of September 30, 2025, based on 13F filings with the SEC (Securities and Exchange Commission):

BlackRock and Vanguard are the anchors, holding the largest passive stakes. But the real story is in the recent trade activity, which tells you what professional money managers are thinking about the company's turnaround prospects and its Fiscal 2025 consolidated net sales revenue of $1.908 billion.

Recent Shifts: Who's Buying and Who's Selling?

The data from the third quarter of fiscal 2025 shows a mixed bag, which is typical for a company undergoing a major operational shift. You see a clear split between those funds reducing their exposure and others making a significant, active bet on a rebound.

• Major Sellers: Vanguard Group Inc. cut its position by a substantial 465,037 shares, a drop of over 1.29%. Dimensional Fund Advisors Lp also reduced its stake by 84,159 shares. This selling pressure suggests a lack of confidence in the near-term recovery, or simply a rebalancing away from consumer discretionary stocks facing a tight spending environment.
• Aggressive Buyers: D. E. Shaw & Co., Inc., a major hedge fund, dramatically increased its position, adding 526,611 shares. Other notable buyers include Goldman Sachs Group Inc. and Ameriprise Financial Inc., which added 332,423 and 208,850 shares, respectively. These moves signal a belief that the stock is oversold and that the company's Mission Statement, Vision, & Core Values of Helen of Troy Limited (HELE) are achievable at the current depressed valuation.

Here's the quick math: the aggressive buying by active managers like D. E. Shaw suggests they believe the downside risk is priced in, especially after the non-GAAP adjusted diluted EPS fell to $7.17 for Fiscal 2025. They are betting on the success of Project Pegasus, the company's efficiency program, which is expected to deliver approximately 35% of its targeted savings in fiscal 2025.

The Impact of Institutional Investors on Strategy and Stock

Large institutional investors play two critical roles: they provide liquidity (making it easier to trade) and they influence corporate governance. When a company faces headwinds, like Helen of Troy did with its sales decline, these investors become active monitors.

Their large-volume trades create demand or supply, which directly impacts the stock price. The divergence in ownership change-heavy selling by some passive funds versus heavy buying by active hedge funds-amplifies volatility. For you, this means the stock price is likely to swing sharply on any news related to Project Pegasus or consumer spending trends. Institutional investors also push for strategic changes. They are the primary audience for the 'Reset & Revitalize' strategy, pressuring management to execute on cost reductions and margin improvements. Their continued investment is a tacit approval of the company's direction, but any failure to meet guidance, like the expected cost savings, will trigger another wave of selling. They demand results, not just promises.

Next step for you: Watch the next 13F filings closely to see if the aggressive buyers are holding their ground, which would indicate sustained confidence in the turnaround.

Key Investors and Their Impact on Helen of Troy Limited (HELE)

You need to know who is buying Helen of Troy Limited (HELE) and why, because their conviction is a strong signal, especially when the stock has been volatile. The short answer is that the largest institutional money managers-the index and passive funds-hold the biggest stakes, but the real action comes from the deep value and event-driven hedge funds who are betting on a turnaround.

Institutional ownership is high, which is typical for a mid-cap consumer staples company. As of late 2025, institutions hold over 99% of the shares, meaning the big funds, not individual retail investors, drive the stock price. This is defintely a stock moved by institutional sentiment.

The Anchor Investors: Passive Giants and the Founding Family

The top shareholders in Helen of Troy Limited are the world's largest passive investment managers. These funds are not making a directional bet on the company; they own it because it's part of an index (like the Russell 2000 or the S&P SmallCap 600) that they track. Their influence is constant and structural, providing a baseline of demand.

• BlackRock, Inc.: Held over 3.44 million shares as of September 30, 2025, making them the largest institutional owner. They are a foundational shareholder, but they did sell a minor stake of 45,062 shares in the most recent quarter.
• Vanguard Group Inc: The second-largest institutional holder with approximately 2.14 million shares as of September 30, 2025. Vanguard, like BlackRock, is a passive holder, but their sale of 465,037 shares in the same period shows a significant rebalancing out of the stock.

The other crucial anchor is the company's founding family. Stanlee N. Rubin is the single largest individual shareholder, owning approximately 1.81 million shares, representing a significant 7.87% of the company. This massive insider stake means the management's interests are tightly aligned with long-term shareholder value, which is a key risk-mitigating factor for any investor.

The Active Buyers: Betting on a Turnaround

The most telling investor activity in fiscal year 2025 comes from the active funds-the ones who buy because they see a specific, temporary dislocation between price and value. Helen of Troy Limited's (HELE) full year 2025 consolidated net sales revenue of $1.908 billion (a 4.9% decrease year-over-year) and non-GAAP adjusted diluted EPS of $7.17 show the business is under pressure, which is exactly what attracts these buyers.

Here's the quick math: when the stock price falls due to temporary headwinds (like inventory destocking or soft consumer demand), deep value investors see a discount on the company's long-term earnings potential.

The influx of capital from funds like Pzena Investment Management LLC, a classic deep value shop, signals a conviction that the company's current struggles are temporary. They are buying into the turnaround story, specifically the multi-year Project Pegasus restructuring initiative, which aims for annualized pre-tax operating profit improvements of $75 million to $85 million by the end of fiscal 2027.

Investor Influence and Clear Actions

These large, active institutional positions translate directly into influence. When a stock is trading near its 52-week low, as Helen of Troy Limited (HELE) has been, new money comes in with higher expectations for performance and capital allocation. The market is demanding a clear path to returning to the company's non-GAAP adjusted EBITDA margin of 15.2% from FY25.

You saw this influence play out directly at the Annual General Meeting on August 20, 2025, when shareholders approved the 2025 Stock Incentive Plan. This plan is a direct tool to align management compensation with shareholder returns, a common demand from large institutional holders. Also, the insider buying is a strong, concrete action: CEO Brian Grass bought 10,000 shares in July 2025 for $214,700, signaling confidence when the stock was under pressure. That's a clear vote of confidence.

For a deeper dive into the company's long-term strategy that these investors are betting on, you should review the core principles driving their business: Mission Statement, Vision, & Core Values of Helen of Troy Limited (HELE).

Market Impact and Investor Sentiment

Investor sentiment toward Helen of Troy Limited (HELE) is defintely mixed, but the near-term mood is overwhelmingly negative, reflecting a deep-value conundrum. You are seeing a classic disconnect: the stock is trading at multi-year lows, which attracts contrarian value investors, but the operational news is still driving away momentum players.

The market has been brutal, with the share price falling from approximately $65.47/share in November 2024 to about $17.55/share by November 17, 2025, a stunning 73.19% decline. This kind of drop tells you investors are pricing in significant, systemic risk-not just a temporary blip. The core issue is execution risk amid macro headwinds, particularly around tariff uncertainty and weak consumer demand.

• Stock price dropped 73.19% from Nov 2024 to Nov 2025.
• Institutional owners hold over 29.7 million shares.
• Near-term sentiment is negative; long-term view is deeply discounted.

Recent Market Reactions to Ownership Shifts

The stock market's reaction to company news has been swift and punishing, overshadowing any subtle moves in institutional ownership. For example, the shares plunged 23.65% in pre-market trading following the Fiscal 2026 first-quarter earnings miss in July 2025. Then, in October 2025, the stock dropped another 25% after the second-quarter report, even though the company technically beat analyst estimates on revenue and adjusted earnings per share (EPS).

This volatility shows extreme investor skepticism. They are focusing on the guidance and the overall narrative of operational struggle, not just the beat on a low bar. The departure of the former CEO in May 2025, followed by the appointment of a new CEO, George Uzzell, also created uncertainty, which the market hates. You can see the company's strategic focus on the Mission Statement, Vision, & Core Values of Helen of Troy Limited (HELE).

The Institutional Investor Profile: Who's Buying?

Despite the negative market reaction, institutional investors still hold a substantial stake, owning a total of over 29,735,324 shares as of the latest filings. The ownership changes filed on Form 13F for the quarter ending September 30, 2025, reveal a nuanced picture of buying and selling among the largest holders. This is the real money taking a position, not just retail noise.

Here's the quick math on key changes among the largest institutional holders:

While mega-funds like BlackRock, Inc. and Vanguard Group Inc. trimmed their positions-Vanguard by a significant amount-other sophisticated investors like D. E. Shaw & Co., Inc. dramatically increased their holdings by over 125%. This suggests a battle between passive index-tracking funds reducing exposure and active hedge funds seeing a deep-value opportunity.

Analyst Perspectives on Key Investor Impact

Analysts are trying to map the impact of these large investor movements and the company's turnaround plan. The consensus recommendation is currently positioned between 'Buy' and 'Hold,' but the price targets are all over the map, reflecting the high uncertainty. For the full Fiscal Year 2025, Helen of Troy Limited reported consolidated net sales revenue of $1.908 billion and non-GAAP adjusted diluted EPS of $7.17. The new CEO is focused on investing in the business rather than returning capital to shareholders via buybacks, a move analysts are watching closely.

Some analysts see the stock as deeply undervalued, assigning a fair value of $38.33 as of October 2025, implying a significant upside. But others are more cautious, with price targets lowered to the $23 to $25 range by firms like UBS and Canaccord Genuity following the Q2 Fiscal 2026 report. The key to a recovery, and a shift in analyst sentiment, is the successful execution of the supply chain diversification plan, which aims to reduce China tariff exposure.