Etsy (ETSY)


Market Price (10/16/2026): $89.0 | Market Cap: $8.4 BilSector: Consumer Discretionary | Industry: Broadline Retail

Etsy (ETSY)


Market Price (10/16/2026): $89.0
Market Cap: $8.4 Bil
Sector: Consumer Discretionary
Industry: Broadline Retail

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 23%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 21%

Attractive yield
FCF Yield is 7.8%

Stock buyback support
Stock Buyback 3Y Total is 2.3 Bil

Low stock price volatility
Vol 12M is 49%

Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, Social Media & Creator Economy, and Sustainable Consumption. Themes include Online Marketplaces, Show more.

Trading close to highs
Dist 52W High is -4.7%, Dist 3Y High is -4.7%

Weak multi-year price returns
3Y Excs Rtn is -49%

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 14%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.7%

Key risks
ETSY key risks include [1] a multi-year decline in merchandise sales due to its dependence on discretionary consumer spending and [2] a shrinking user base, Show more.

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 23%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 21%
1 Attractive yield
FCF Yield is 7.8%
2 Stock buyback support
Stock Buyback 3Y Total is 2.3 Bil
3 Low stock price volatility
Vol 12M is 49%
4 Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, Social Media & Creator Economy, and Sustainable Consumption. Themes include Online Marketplaces, Show more.
5 Trading close to highs
Dist 52W High is -4.7%, Dist 3Y High is -4.7%
6 Weak multi-year price returns
3Y Excs Rtn is -49%
7 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 14%
8 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.7%
9 Key risks
ETSY key risks include [1] a multi-year decline in merchandise sales due to its dependence on discretionary consumer spending and [2] a shrinking user base, Show more.

ETSY in ETFs

Weight = ETSY's share of each fund

VTI0.01%
ITOT0.01%
IWB0.01%
IJR0.38%
VB0.09%
SLYG0.80%
IJT0.70%
FNDA0.29%
+16 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/15/2026

Etsy (ETSY) stock has gained about 20% since 6/30/2026 because of the following key factors:

1. Strategic Divestiture and Share Repurchase Program.

Etsy completed the sale of its Depop subsidiary on July 30, 2026. This divestiture generated $1.4 billion, which the company subsequently allocated to fund a new $2 billion share repurchase authorization. Share repurchases are generally viewed positively by investors as they can reduce the number of outstanding shares, thereby potentially increasing earnings per share and signaling confidence in the company's valuation.

2. Stronger-Than-Expected Q2 Fiscal 2026 Revenue and GMS.

Despite reporting a miss on earnings per share (EPS) for Q2 fiscal 2026, with ($0.49) compared to a consensus estimate of $0.75, Etsy demonstrated robust top-line performance. The company announced Q2 fiscal 2026 revenue of $668.31 million, which exceeded the consensus estimate of $646.10 million. Additionally, Etsy Marketplace's gross merchandise sales (GMS) surpassed the high end of the company's guidance, indicating strong underlying demand in its core marketplace.

Show more
Updated on 10/15/2026

Etsy (ETSY) stock has gained about 20% since 6/30/2026 because of the following key factors:

1. Strategic Divestiture and Share Repurchase Program.

Etsy completed the sale of its Depop subsidiary on July 30, 2026. This divestiture generated $1.4 billion, which the company subsequently allocated to fund a new $2 billion share repurchase authorization. Share repurchases are generally viewed positively by investors as they can reduce the number of outstanding shares, thereby potentially increasing earnings per share and signaling confidence in the company's valuation.

2. Stronger-Than-Expected Q2 Fiscal 2026 Revenue and GMS.

Despite reporting a miss on earnings per share (EPS) for Q2 fiscal 2026, with ($0.49) compared to a consensus estimate of $0.75, Etsy demonstrated robust top-line performance. The company announced Q2 fiscal 2026 revenue of $668.31 million, which exceeded the consensus estimate of $646.10 million. Additionally, Etsy Marketplace's gross merchandise sales (GMS) surpassed the high end of the company's guidance, indicating strong underlying demand in its core marketplace.

3. Numerous Analyst Upgrades and Increased Price Targets.

Throughout the specified period, several investment research firms revised their outlooks on Etsy positively. For instance, Barclays raised its price target for Etsy from $82.00 to $94.00 and reiterated an "overweight" rating on August 7, 2026. Sanford C. Bernstein upgraded the stock from a "hold" to a "strong-buy" rating on September 11, 2026. Furthermore, BTIG Research upgraded Etsy to a "buy" rating with a $90.00 price target on September 18, 2026, and Oppenheimer upgraded the stock to Outperform with a $90 price target, citing benefits from artificial intelligence search enhancements and product improvements. These upgrades reflect growing analyst confidence in Etsy's growth trajectory and market position.

4. Enhanced Marketplace Features and Seller Support Initiatives.

Etsy introduced several platform enhancements and strategic partnerships aimed at improving the experience for both buyers and sellers. Key updates in 2026 included expanding listing capabilities to allow up to 20 photos and two videos, renaming "personalization" to "custom options," and enabling a third variation option for listings. The company also announced a partnership with Remitly on September 9, 2026, to provide sellers with more diverse global payment options and rolled out "Smarter stats" with an AI Stats assistant in October 2026 to help sellers analyze their shop's performance. These initiatives are designed to foster engagement and streamline operations on the platform.

5. Speculation Regarding Potential Takeover Interest.

Unconfirmed reports of potential takeover interest circulating in the market for online marketplaces, including Etsy, contributed to a notable rally in the stock. This speculation served as a recent catalyst, helping to push Etsy shares towards a 52-week high around October 15, 2026.

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Stock Movement Drivers

Fundamental Drivers

The 18.4% change in ETSY stock from 6/30/2026 to 10/15/2026 was primarily driven by a 57.9% change in the company's P/E Multiple.
(LTM values as of)630202610152026Change
Stock Price ($)75.3389.1818.4%
Change Contribution By: 
Total Revenues ($ Mil)2,8202,8591.4%
Net Income Margin (%)10.1%7.3%-27.5%
P/E Multiple25.540.257.9%
Shares Outstanding (Mil)96942.0%
Cumulative Contribution18.4%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/15/2026
ReturnCorrelation
ETSY18.4% 
Market (SPY)3.4%6.2%
Sector (XLY)-4.9%15.5%

Fundamental Drivers

The 78.4% change in ETSY stock from 3/31/2026 to 10/15/2026 was primarily driven by a 33.2% change in the company's P/E Multiple.
(LTM values as of)331202610152026Change
Stock Price ($)49.9889.1878.4%
Change Contribution By: 
Total Revenues ($ Mil)2,8012,8592.1%
Net Income Margin (%)5.8%7.3%25.8%
P/E Multiple30.240.233.2%
Shares Outstanding (Mil)98944.3%
Cumulative Contribution78.4%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/15/2026
ReturnCorrelation
ETSY78.4% 
Market (SPY)19.0%12.8%
Sector (XLY)2.5%19.7%

Fundamental Drivers

The 34.3% change in ETSY stock from 9/30/2025 to 10/15/2026 was primarily driven by a 23.0% change in the company's Net Income Margin (%).
(LTM values as of)930202510152026Change
Stock Price ($)66.3989.1834.3%
Change Contribution By: 
Total Revenues ($ Mil)2,7562,8593.7%
Net Income Margin (%)6.0%7.3%23.0%
P/E Multiple41.840.2-3.8%
Shares Outstanding (Mil)103949.4%
Cumulative Contribution34.3%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/15/2026
ReturnCorrelation
ETSY34.3% 
Market (SPY)16.8%26.9%
Sector (XLY)-6.4%29.8%

Fundamental Drivers

The 38.1% change in ETSY stock from 9/30/2023 to 10/15/2026 was primarily driven by a 30.8% change in the company's Shares Outstanding (Mil).
(LTM values as of)930202310152026Change
Stock Price ($)64.5889.1838.1%
Change Contribution By: 
Total Revenues ($ Mil)2,6712,8597.0%
P/S Multiple3.02.9-1.4%
Shares Outstanding (Mil)1239430.8%
Cumulative Contribution38.1%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 10/15/2026
ReturnCorrelation
ETSY38.1% 
Market (SPY)86.7%30.2%
Sector (XLY)41.7%35.1%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
ETSY Return23%-45%-32%-35%5%50%-53%
Peers Return22%-55%76%37%45%19%129%
S&P 500 Return27%-19%24%23%16%14%108%

Monthly Win Rates [3]
ETSY Win Rate50%25%42%33%42%60% 
Peers Win Rate55%27%65%58%60%58% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
ETSY Max Drawdown-36%-68%-59%-41%-32%-31% 
Peers Max Drawdown-27%-60%-32%-29%-36%-31% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: AMZN, EBAY, SHOP, W, WSM. See ETSY Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/15/2026 (YTD)

How Low Can It Go

EventETSYS&P 500
2025 US Tariff Shock
  % Loss-20.8%-18.8%
  % Gain to Breakeven26.3%23.1%
  Time to Breakeven51 days79 days
2024 Yen Carry Trade Unwind
  % Loss-10.2%-7.8%
  % Gain to Breakeven11.3%8.5%
  Time to Breakeven112 days18 days
2020 COVID-19 Crash
  % Loss-40.4%-33.7%
  % Gain to Breakeven67.8%50.9%
  Time to Breakeven20 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-19.0%-19.2%
  % Gain to Breakeven23.5%23.8%
  Time to Breakeven9 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-35.2%-3.7%
  % Gain to Breakeven54.4%3.9%
  Time to Breakeven107 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-63.3%-12.2%
  % Gain to Breakeven172.8%13.9%
  Time to Breakeven581 days62 days

Compare to AMZN, EBAY, SHOP, W, WSM

In The Past

Etsy's stock fell -20.8% during the 2025 US Tariff Shock. Such a loss loss requires a 26.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventETSYS&P 500
2025 US Tariff Shock
  % Loss-20.8%-18.8%
  % Gain to Breakeven26.3%23.1%
  Time to Breakeven51 days79 days
2020 COVID-19 Crash
  % Loss-40.4%-33.7%
  % Gain to Breakeven67.8%50.9%
  Time to Breakeven20 days140 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-35.2%-3.7%
  % Gain to Breakeven54.4%3.9%
  Time to Breakeven107 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-63.3%-12.2%
  % Gain to Breakeven172.8%13.9%
  Time to Breakeven581 days62 days
2014-2016 Oil Price Collapse
  % Loss-78.8%-6.8%
  % Gain to Breakeven371.7%7.3%
  Time to Breakeven792 days15 days

Compare to AMZN, EBAY, SHOP, W, WSM

In The Past

Etsy's stock fell -20.8% during the 2025 US Tariff Shock. Such a loss loss requires a 26.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Etsy (ETSY)

Etsy, Inc. operates as a global e-commerce company primarily known for its two-sided online marketplaces. Its flagship platform, Etsy.com, connects millions of independent artisans and entrepreneurs with consumers seeking unique, handmade, and vintage goods. This marketplace serves as a digital storefront for sellers to offer a vast array of items, from crafts and jewelry to home decor and personalized gifts.

Beyond Etsy.com, the company diversifies its market reach through specialized platforms such as Reverb, a marketplace for musical instruments; Depop, focusing on fashion resale; and Elo7, a Brazil-based marketplace for handmade items. To support its seller community, Etsy provides a comprehensive suite of services including Etsy Payments for secure transactions, Etsy Ads for promotional reach, and Shipping Labels for discounted postage. Sellers also benefit from business management tools like Shop Manager, analytics, and educational resources.

Etsy's ecosystem connects a substantial network of participants, having facilitated commerce between approximately 7.5 million active sellers and 96.3 million active buyers as of late 2021. The company's primary geographical markets span the United States, United Kingdom, Germany, Canada, Australia, France, India, and Brazil, establishing a significant global footprint for its unique e-commerce model.

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1. eBay for handmade and vintage items.

2. Amazon for artisans and unique crafts.

AI Analysis | Feedback

  • Etsy.com Marketplace: The primary online marketplace connecting artisans and entrepreneurs with consumers for handmade, vintage, and unique items.
  • Reverb Marketplace: An online marketplace dedicated to buying and selling musical instruments.
  • Depop Marketplace: An online fashion resale marketplace.
  • Elo7 Marketplace: A Brazil-based online marketplace for handmade and unique items.
  • Etsy Payments: A payment processing service provided to sellers on its platforms.
  • Etsy Ads: An advertising platform enabling sellers to promote their products to buyers.
  • Shipping Labels: A service allowing sellers to purchase discounted shipping labels for their orders.
  • Seller Tools (e.g., Shop Manager, Sell on Etsy App, Analytics): A suite of tools including a centralized dashboard, mobile application, and analytics pages for managing shops, orders, and inventory.
  • Seller Support & Educational Resources: Content and features like blog posts, video tutorials, a seller handbook, and online forums to assist and educate sellers.
  • Star Seller Program: A recognition program designed to reward sellers for providing excellent customer service and fulfilling orders efficiently.

AI Analysis | Feedback

Etsy (ETSY) primarily serves individuals, both on the selling and buying sides of its marketplaces. Its major customer categories are:

  1. Artisans and Entrepreneurs (Sellers): These are individuals and small businesses who create and sell handmade goods, vintage items, craft supplies, musical instruments, and fashion resale items through Etsy's various platforms (Etsy.com, Reverb, Depop, Elo7). They are customers for Etsy's seller services, paying for listing fees, transaction fees, payment processing (Etsy Payments), advertising (Etsy Ads), shipping labels, and various other tools and resources designed to help them manage and grow their shops.
  2. Consumers (Buyers): These are individuals who visit Etsy's online marketplaces to discover and purchase unique items from sellers. While they do not directly pay Etsy for the goods themselves (they pay the sellers), they are integral to the marketplace ecosystem. Etsy provides them with a platform for discovery, secure payment processing through Etsy Payments, and a trusted environment for their transactions.

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Kruti Patel Goyal, Chief Executive Officer

Kruti Patel Goyal became Etsy's Chief Executive Officer on January 1, 2026, succeeding Josh Silverman. She previously served as Etsy's President and Chief Growth Officer starting in January 2025, overseeing Product, Marketing, Member Support, Trust and Safety, and Strategy and Operations. Prior to that, from 2022 to 2025, Goyal was the CEO of Depop, an Etsy subsidiary, where she led growth and strengthened the marketplace. She joined Etsy in 2010 and has held various leadership roles, including Chief Product Officer, Chief Operating Officer, and Head of Marketplace Integrity and Trust & Safety. Her career began in mergers and acquisitions at Morgan Stanley and as a growth equity investor at General Atlantic Partners.

Lanny Baker, Chief Financial Officer

Lanny Baker joined Etsy as Chief Financial Officer effective the first week of January 2025, succeeding Rachel Glaser. Before joining Etsy, Baker served as the Chief Operating Officer and previously as Chief Financial Officer of Eventbrite, a global events marketplace.

Josh Silverman, Executive Chairman

Josh Silverman served as Etsy's Chief Executive Officer from 2017 until December 2025, transitioning to Executive Chair on January 1, 2026, a role he will hold through December 31, 2026. He co-founded Evite, Inc., which was acquired by IAC/InterActiveCorp in 2001. Silverman's prior leadership roles include CEO of Shopping.com (an eBay company) from 2006 to 2008 and CEO of Skype from 2008 to 2010. He also served as President of Consumer Products and Services at American Express from 2011 to 2015. Silverman was an Executive-in-Residence at Greylock Partners and a Senior Operating Advisor at Hellman & Friedman, a private equity firm.

Brad Minor, Chief Marketing Officer

Brad Minor was appointed Chief Marketing Officer of Etsy effective the first week of January 2025. He previously held the position of Chief Brand Officer at Etsy, which he joined in 2022. In his role as Chief Brand Officer, Minor was responsible for developing and executing Etsy's brand strategy, including initiatives like the gifting strategy and brand mission campaign.

Rafe Colburn, Chief Product and Technology Officer

Rafe Colburn is Etsy's Chief Product and Technology Officer.

AI Analysis | Feedback

Key Risks to Etsy's Business

  1. Intense Competition and Market Share Erosion: Etsy operates in a highly competitive e-commerce landscape, facing aggressive challenges from a variety of platforms. These competitors include fast-fashion retailers like Temu and Shein, general e-commerce giants such as Amazon and AliExpress, and other specialized marketplaces like Amazon Handmade and Shopify-based stores. This heightened competition is leading to market share losses, a decline in active buyers and Gross Merchandise Volume (GMV) per active buyer, and puts pressure on Etsy's core value proposition of unique, handmade, and vintage items. The influx of mass-manufactured and overseas products on various platforms, and even within Etsy's own ecosystem, further dilutes its brand and makes it challenging for genuine artisans to gain visibility.
  2. Cyclicality of Discretionary Consumer Spending: Etsy's business performance is significantly influenced by macroeconomic factors, making it vulnerable to economic downturns and inflationary pressures. Products typically sold on Etsy, such as furniture, apparel, and jewelry, are often considered discretionary purchases. During periods of economic uncertainty, consumers tend to reduce spending on such items, which can directly lead to declining Gross Merchandise Sales (GMS) and a shrinking base of active buyers and sellers on the platform. This indicates that the business may be more cyclical than previously perceived.
  3. Seller Dependence, Platform Integrity, and Regulatory Compliance: Etsy's operational success is intrinsically linked to the health and satisfaction of its seller community. Risks include potential seller attrition due to increasing fees, brand dilution caused by the presence of mass-produced goods, and challenges in maintaining a trustworthy and safe marketplace, which can be undermined by fraud, counterfeit items, or even mistaken account suspensions. Furthermore, operating globally subjects Etsy and its sellers to a complex and evolving regulatory environment, particularly concerning product safety and consumer protection laws (e.g., the EU's General Product Safety Regulation). Compliance with these regulations can impose significant burdens, potentially leading to costly changes in business practices for Etsy and its sellers, and may even result in listing removals or account suspensions for non-compliance.

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Etsy, Inc. operates several online marketplaces, each catering to distinct addressable markets globally and in specific regions.

Etsy.com (Handmade, Vintage, and Craft Supplies)

  • The global market for handmade and crafts was estimated to be over $906 billion in 2024. This market is projected to reach approximately $1.94 trillion by 2033.
  • In the U.S. alone, the handmade goods market is estimated to be worth over $268 billion.

Depop (Fashion Resale Marketplace)

  • The global secondhand apparel market was estimated at $190 billion in 2024. It is projected to reach $367 billion by 2029, or $350 billion by 2028.
  • The U.S. secondhand market is projected to reach $74 billion by 2028, or $73 billion by 2028, or $70 billion by 2027.
  • Specifically, the global vintage fashion market was valued at $100 billion in 2025 and is projected to reach $250 billion by 2033.

Reverb (Musical Instrument Marketplace)

  • The global musical instrument market size was estimated at $17.52 billion in 2025 and is projected to reach $31.40 billion by 2033. Another estimate places the global musical instrument market size at $20.94 billion in 2025, projected to grow to $36.76 billion by 2034.
  • The worldwide musical instruments e-commerce market generated an e-commerce revenue of $24.503 billion in 2025.

Elo7 (Brazil-based Marketplace for Handmade and Unique Items)

  • The Brazil Handicraft market size was valued at $24.078 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 10.6% during the forecast period.
  • Another estimate for the Brazil handicrafts market size in 2024 is $15.87 billion, with a projection to reach $58.60 billion by 2035.
  • The Brazil art and craft market size was $1.859 billion in 2025 and is projected to reach $3.678 billion by 2034.

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Etsy (ETSY) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

  1. Enhanced Monetization of Seller Services: Etsy anticipates increasing its "take rate"—the percentage of Gross Merchandise Sales (GMS) retained as revenue—primarily by expanding and optimizing its seller services. Etsy Ads, a key contributor to recent growth, is expected to continue to be a primary driver through improvements in ad relevance and localization for international markets. Payments revenue also plays a role in this increased monetization.
  2. Growth in Active Buyers and Increased Purchase Frequency: Etsy aims to expand its active buyer base through improved acquisition and reactivation efforts. A significant focus is on driving higher purchase frequency and average order value from both new and existing buyers. This includes strategic marketing initiatives and efforts to make the platform a go-to destination for gifting.
  3. Leveraging Artificial Intelligence and Personalization: The company is making significant investments in artificial intelligence (AI) and machine learning (ML) to enhance buyer discovery, personalize experiences, and improve inventory matching. These technological advancements are designed to drive engagement, increase conversion rates, and strengthen the overall buyer journey on the platform.
  4. Mobile App Optimization and International Market Growth: Etsy is prioritizing its mobile application, which has shown to outperform the broader marketplace in GMS growth. Continuous improvements to the app are aimed at attracting and retaining buyers, particularly younger demographics, and showing up earlier in the shopping journey. Additionally, strong international buyer growth is expected to continue contributing to overall revenue expansion.

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Share Repurchases

  • Etsy repurchased approximately $576.968 million in shares during 2023.
  • In 2024, Etsy repurchased approximately $723.899 million in shares.
  • Etsy's Board of Directors approved a new stock repurchase program in October 2024, authorizing the repurchase of up to an additional $1 billion of common stock. The company repurchased approximately $777 million for the full year 2025.

Share Issuance

  • Etsy completed a private placement of convertible notes, raising approximately $700 million in cash during the second quarter of 2025.
  • The number of outstanding shares for Etsy was 127.022 million at the end of 2021, and decreased to 99.334 million by March 2026, primarily influenced by share buybacks.

Inbound Investments

  • During the second quarter of 2025, Etsy completed a private placement of convertible notes, raising approximately $700 million in cash.

Outbound Investments

  • Etsy acquired Depop for $1.62 billion in June 2021 and Elo7 for $217 million in the same year.
  • Etsy sold Reverb, its musical instrument marketplace, to private investors in 2025.
  • The company sold Depop to eBay for approximately $1.2 billion in February 2026, which was less than the original acquisition price.

Capital Expenditures

  • Etsy's capital expenditures were $11.248 million in 2021, $10.237 million in 2022, $12.938 million in 2023, and $14.208 million in 2024.
  • For the fiscal year ending December 2025, capital expenditures peaked at $18.154 million.
  • Etsy's forecast for capital expenditures in 2026 is approximately $47.33 million. The company plans to continue investing in product experience and AI capabilities.

Better Bets vs. Etsy (ETSY)

Peer Outperformance in Broadline Retail

ETSY has trailed 62% of its 13 Broadline Retail peers over 5Y. Broadline Retail ranks 20th of 23 industries in Consumer Discretionary by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Broadline Retail constituents that ETSY has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
73%
of 15 industry peers · 26.1% return
3Y
50%
of 14 industry peers · 34.2% return
5Y
38%
of 13 industry peers · -59.7% return
No Broadline Retail peer with a comparable growth profile has beaten ETSY by more than 20pp over 5Y.
Median price return by industry across the Consumer Discretionary sector, ranked by 5Y. Broadline Retail is ETSY's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Education Services 14 -18.2%81.7%87.3% CVSA 256% · PRDO 231% · LRN 143%
Homebuilding 18 -8.2%33.7%44.5% GRBK 190% · PHM 145% · TOL 134%
Specialty Stores 7 15.0%37.1%17.5% ASO 44% · DKS 32% · FIVE 17%
Hotels, Resorts & Cruise Lines 21 12.0%38.6%13.6% RCL 236% · MAR 151% · HLT 141%
Home Furnishings 3 -2.8%49.6%3.0% SGI 47% · MHK -33%
Home Improvement Retail 4 -17.8%8.4%-0.9% HD 0% · LOW -2% · FND -64%
Automotive Retail 18 -15.0%-0.2%-8.4% MUSA 237% · PAG 132% · ORLY 111%
Footwear 9 72.5%53.0%-9.1% DECK 45% · SHOO 21% · CROX -9%
Specialized Consumer Services 10 -13.9%21.7%-13.3% HRB 130% · FTDR 79% · SCI 41%
Distributors 4 -9.0%-25.4%-16.1% ARMK 122% · GPC 21% · LKQ -53%
Restaurants 36 -6.7%-9.5%-19.9% EAT 331% · CAKE 205% · TXRH 104%
Apparel Retail 26 2.0%8.8%-36.8% ANF 288% · TJX 142% · ROST 128%
Household Appliances 17 -4.6%16.4%-37.0%
Computer & Electronics Retail 3 19.8%54.0%-38.8% BBY 5% · GME -39%
Leisure Facilities 12 7.4%-9.6%-43.4% LTH 137% · OSW 122% · PLNT -42%
Leisure Products 14 -21.1%-15.6%-46.0% GOLF 75% · HAS 30% · MAT -12%
Automotive Parts & Equipment 39 -9.9%-23.6%-46.9% MOD 1173% · GTX 266% · BWA 52%
Apparel, Accessories & Luxury Goods 29 -0.2%18.8%-48.7% RL 263% · TPR 233% · KTB 68%
Casinos & Gaming 20 -11.6%-26.1%-49.6% MCRI 91% · BYD 12% · RRR 10%
Broadline Retail ← 14 -3.7%34.2%-52.1% EBAY 79% · AMZN 49% · OLLI 45%
Automobile Manufacturers 8 -65.3%-56.1%-77.7% GM 50% · TSLA 29% · F 7%
Consumer Electronics 11 -29.8%-32.5%-77.9% GRMN 102% · SONO -45%
Other Specialty Retail 17 -33.9%-39.3%-78.9% ULTA 46% · TSCO -9% · BBWI -67%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

ETSYAMZNEBAYSHOPWWSMMedian
NameEtsy Amazon.c.eBay Shopify Wayfair Williams. 
Mkt Price89.00253.31123.41177.39111.93252.42150.40
Mkt Cap8.42,727.954.9229.814.829.742.3
Rev LTM2,859775,68012,00813,26912,9048,00512,456
Op Inc LTM45793,7122,4642,3632291,5371,950
FCF LTM614-11,6252,4282,3524331,343979
FCF 3Y Avg64716,7321,7871,8192371,2141,501
CFO LTM657161,4033,0362,3776651,6091,993
CFO 3Y Avg694130,1642,2831,8384791,4451,642

Growth & Margins

ETSYAMZNEBAYSHOPWWSMMedian
NameEtsy Amazon.c.eBay Shopify Wayfair Williams. 
Rev Chg LTM3.7%15.8%14.7%32.5%7.5%2.2%11.1%
Rev Chg 3Y Avg2.3%13.0%6.7%28.2%2.8%-0.9%4.7%
Rev Chg Q6.2%19.6%14.8%33.7%7.5%6.7%11.2%
QoQ Delta Rev Chg LTM1.4%4.4%3.5%7.3%1.9%1.6%2.7%
Op Inc Chg LTM5.4%23.0%10.6%54.3%233.1%5.7%16.8%
Op Inc Chg 3Y Avg7.9%90.0%4.0%108.8%117.4%6.3%49.0%
Op Mgn LTM16.0%12.1%20.5%17.8%1.8%19.2%16.9%
Op Mgn 3Y Avg14.7%10.8%20.6%14.9%-1.3%18.6%14.8%
QoQ Delta Op Mgn LTM0.9%0.6%1.0%0.8%0.6%1.2%0.8%
CFO/Rev LTM23.0%20.8%25.3%17.9%5.2%20.1%20.5%
CFO/Rev 3Y Avg24.8%18.9%20.7%17.7%3.9%18.5%18.7%
FCF/Rev LTM21.5%-1.5%20.2%17.7%3.4%16.8%17.3%
FCF/Rev 3Y Avg23.2%2.8%16.2%17.5%1.9%15.6%15.9%

Valuation

ETSYAMZNEBAYSHOPWWSMMedian
NameEtsy Amazon.c.eBay Shopify Wayfair Williams. 
Mkt Cap8.42,727.954.9229.814.829.742.3
P/S2.93.54.617.31.13.73.6
P/Op Inc18.429.122.397.264.519.325.7
P/EBIT16.815.320.197.2-87.919.318.1
P/E40.120.224.7119.2-46.025.225.0
P/CFO12.816.918.196.722.218.518.3
Total Yield2.5%4.9%5.0%0.8%-2.3%5.3%3.7%
Dividend Yield0.0%0.0%1.0%0.0%0.0%1.2%0.0%
FCF Yield 3Y Avg9.7%0.9%4.4%1.4%2.6%5.7%3.5%
D/E0.40.10.10.00.20.10.1
Net D/E0.20.00.1-0.00.20.00.1

Returns

ETSYAMZNEBAYSHOPWWSMMedian
NameEtsy Amazon.c.eBay Shopify Wayfair Williams. 
1M Rtn20.3%2.0%14.2%36.6%7.9%14.0%14.1%
3M Rtn6.6%1.4%11.6%41.8%22.4%10.9%11.3%
6M Rtn49.3%1.4%21.7%39.7%44.8%32.8%36.3%
12M Rtn25.9%17.5%37.5%13.6%37.7%34.7%30.3%
3Y Rtn33.9%91.1%205.4%232.9%134.3%226.2%169.8%
1M Excs Rtn17.8%-0.4%9.6%33.1%4.8%12.2%10.9%
3M Excs Rtn1.1%-2.2%5.8%38.9%20.3%5.6%5.7%
6M Excs Rtn38.4%-9.4%10.8%28.9%33.2%21.5%25.2%
12M Excs Rtn6.3%-0.3%19.7%-1.4%22.6%15.4%10.9%
3Y Excs Rtn-39.3%16.9%118.6%143.3%17.4%150.0%68.0%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Etsy2,8842,8082,7482,566 
Marketplace revenue    1,746
Services revenue    583
Total2,8842,8082,7482,5662,329


Price Behavior

Price Behavior
Market Price$89.18 
Market Cap ($ Bil)8.4 
First Trading Date04/16/2015 
Distance from 52W High0.0% 
   50 Days200 Days
DMA Price$77.12$66.68
DMA Trenddownup
Distance from DMA15.6%33.7%
 3M1YR
Volatility45.5%49.9%
Downside Capture152.78145.28
Upside Capture66.22125.86
Correlation (S&P 500)8.3%26.8%
ETSY Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta0.801.090.490.611.080.97
Up Beta0.822.18-0.210.291.380.76
Down Beta0.29-2.08-0.78-0.021.001.03
Up Capture15%62%82%120%85%89%
Bmk +ve Days6162766132424
Stock +ve Days11223267130382
Down Capture244%200%123%63%109%104%
Bmk -ve Days16263760120328
Stock -ve Days11203258121364

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ETSY
ETSY24.1%49.9%0.59-
Sector ETF (XLY)-4.3%19.1%-0.3629.7%
Equity (SPY)17.6%12.7%0.9925.8%
Gold (GLD)0.5%29.5%0.024.8%
Commodities (DBC)50.9%20.7%1.88-15.0%
Real Estate (VNQ)4.7%13.7%0.0824.4%
Bitcoin (BTCUSD)-28.1%43.7%-0.6320.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ETSY
ETSY-16.5%55.4%-0.12-
Sector ETF (XLY)4.8%24.1%0.1652.5%
Equity (SPY)13.4%17.1%0.6045.9%
Gold (GLD)18.5%18.9%0.795.6%
Commodities (DBC)9.7%19.5%0.38-0.4%
Real Estate (VNQ)1.1%18.8%-0.0538.3%
Bitcoin (BTCUSD)8.7%51.8%0.3527.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ETSY
ETSY19.1%56.0%0.54-
Sector ETF (XLY)11.9%22.2%0.4949.2%
Equity (SPY)15.4%17.9%0.7343.3%
Gold (GLD)12.2%16.4%0.616.9%
Commodities (DBC)8.2%18.1%0.376.3%
Real Estate (VNQ)5.0%20.7%0.2031.5%
Bitcoin (BTCUSD)63.1%66.2%1.0313.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date9302026
Short Interest: Shares Quantity13.1 Mil
Short Interest: % Change Since 915202627.3%
Average Daily Volume3.6 Mil
Days-to-Cover Short Interest3.6 days
Basic Shares Quantity94.4 Mil
Short % of Basic Shares13.9%

Earnings Returns History

Updated 9/8/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/5/2026-4.2%-7.3%-4.5%
4/29/202610.1%-0.4%5.6%
2/19/20269.3%21.3%24.3%
10/29/2025-12.8%-22.1%-27.6%
7/30/20252.8%-7.2%-9.7%
4/30/2025-5.7%-2.2%14.9%
2/19/2025-10.1%-7.3%-21.9%
10/30/20247.2%10.6%14.3%
...
SUMMARY STATS   
# Positive11811
# Negative131613
Median Positive9.9%9.5%14.3%
Median Negative-9.7%-7.6%-14.1%
Max Positive16.2%24.7%60.5%
Max Negative-16.8%-28.8%-27.6%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/5/2026-4.2%-7.3%-4.5%
4/29/202610.1%-0.4%5.6%
2/19/20269.3%21.3%24.3%
10/29/2025-12.8%-22.1%-27.6%
7/30/20252.8%-7.2%-9.7%
4/30/2025-5.7%-2.2%14.9%
2/19/2025-10.1%-7.3%-21.9%
10/30/20247.2%10.6%14.3%
7/31/2024-7.6%-18.1%-14.8%
5/1/2024-15.1%-10.3%-9.0%
2/21/2024-8.4%-7.9%-11.7%
11/1/20231.6%5.5%35.2%
8/2/2023-13.7%-16.9%-23.4%
5/3/2023-6.5%-4.2%-14.1%
2/22/20232.4%-7.9%-14.3%
11/2/202214.3%8.5%60.5%
7/27/20229.9%13.6%13.4%
5/4/2022-16.8%-28.8%-25.9%
2/24/202216.2%24.7%3.2%
11/3/202113.2%3.7%-3.5%
8/4/2021-9.7%-4.0%5.6%
5/5/2021-14.6%-13.7%-11.0%
2/25/202111.5%0.3%2.4%
10/28/2020-5.2%-2.5%15.0%
SUMMARY STATS   
# Positive11811
# Negative131613
Median Positive9.9%9.5%14.3%
Median Negative-9.7%-7.6%-14.1%
Max Positive16.2%24.7%60.5%
Max Negative-16.8%-28.8%-27.6%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/05/202610-Q
03/31/202604/29/202610-Q
09/30/202510/29/202510-Q
06/30/202507/30/202510-Q
03/31/202504/30/202510-Q
12/31/202402/19/202510-K
09/30/202410/31/202410-Q
06/30/202408/01/202410-Q
03/31/202405/02/202410-Q
12/31/202302/22/202410-K
09/30/202311/02/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202202/23/202310-K
09/30/202211/03/202210-Q
06/30/202207/28/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/05/202610-Q
03/31/202604/29/202610-Q
09/30/202510/29/202510-Q
06/30/202507/30/202510-Q
03/31/202504/30/202510-Q
12/31/202402/19/202510-K
09/30/202410/31/202410-Q
06/30/202408/01/202410-Q
03/31/202405/02/202410-Q
12/31/202302/22/202410-K
09/30/202311/02/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202202/23/202310-K
09/30/202211/03/202210-Q
06/30/202207/28/202210-Q
03/31/202205/05/202210-Q
12/31/202102/25/202210-K
09/30/202111/04/202110-Q
06/30/202108/05/202110-Q
03/31/202105/06/202110-Q
12/31/202002/26/202110-K
09/30/202010/29/202010-Q
06/30/202008/06/202010-Q
03/31/202005/07/202010-Q
12/31/201902/27/202010-K
09/30/201910/31/201910-Q
06/30/201908/02/201910-Q

Recent Forward Guidance

Updated 10/4/2026

Latest: Q2 2026 Earnings Reported 8/5/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q3 2026 GMSReported2.53 Bil2.56 Bil2.58 Bil2.0% Higher NewGuidance: 2.50 Bil for Q2 2026
Q3 2026 Take RateReported 0.26  0.3%Higher NewGuidance: 0.26 for Q2 2026
Q3 2026 Adjusted EBITDA MarginReported28.0%29.0%30.0% 1.0%Higher NewGuidance: 28.0% for Q2 2026
2026 GMS GrowthReported 5.0%  2.5%RaisedGuidance: 2.5% for 2026
2026 Adjusted EBITDA MarginReported29.0%29.5%30.0% 0.5%RaisedGuidance: 29.0% for 2026


Prior: Q1 2026 Earnings Reported 4/29/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q2 2026 GMSReported2.48 Bil2.50 Bil2.53 Bil4.2% Higher NewGuidance: 2.40 Bil for Q1 2026
Q2 2026 Take RateReported 0.26  0.2%Higher NewGuidance: 0.26 for Q1 2026
Q2 2026 Adjusted EBITDA MarginReported27.0%28.0%29.0% -1.0%Lower NewGuidance: 29.0% for Q1 2026
2026 GMS GrowthReported 2.5%    
2026 Adjusted EBITDA MarginReported28.0%29.0%30.0%  Affirmed

Q4 2025 Earnings Reported 2/19/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q1 2026 GMSReported2.38 Bil2.40 Bil2.43 Bil-32.7% Lower NewGuidance: 3.58 Bil for Q4 2025
Q1 2026 Take RateReported 0.26  1.0%Higher NewGuidance: 0.25 for Q4 2025
Q1 2026 Adjusted EBITDA MarginReported28.0%29.0%30.0% 5.0%Higher NewGuidance: 24.0% for Q4 2025
2026 GMS GrowthReported      

Q3 2025 Earnings Reported 10/29/2025

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q4 2025 GMSReported3.50 Bil3.58 Bil3.65 Bil34.9% Higher NewActual: 2.65 Bil for Q3 2025
Q4 2025 Take RateReported 0.25  0.0%Same NewActual: 0.25 for Q3 2025
Q4 2025 Adjusted EBITDA MarginReported 24.0%  -1.0%Lower NewActual: 25.0% for Q3 2025

Insider Activity

Updated 10/15/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Silverman, JoshDirectSell1015202684.4741735,22422,183,258Form
2Silverman, JoshDirectSell1015202679.0071456,40620,746,743Form
3Silverman, JoshDirectSell1009202674.0038328,34219,405,316Form
4Colburn, Richard Edward IiiChief Product & Tech OfficerDirectSell1007202671.314,472318,889463,716Form
5Buckley, MerileeCHIEF ACCOUNTING OFFICERDirectSell1007202671.351,396  Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Silverman, JoshDirectSell1015202684.4741735,22422,183,258Form
2Silverman, JoshDirectSell1015202679.0071456,40620,746,743Form
3Silverman, JoshDirectSell1009202674.0038328,34219,405,316Form
4Colburn, Richard Edward IiiChief Product & Tech OfficerDirectSell1007202671.314,472318,889463,716Form
5Buckley, MerileeCHIEF ACCOUNTING OFFICERDirectSell1007202671.351,396  Form
6Silverman, JoshDirectSell1005202672.452,090151,41319,025,622Form
7Colburn, Richard Edward IiiChief Product & Tech OfficerDirectSell903202682.112,913239,174533,933Form
8Silverman, JoshDirectSell903202684.001,671140,36420,962,956Form
9Wilson, Frederick RDirectSell903202681.8620,0001,637,10932,850,970Form
10Silverman, JoshDirectSell903202681.8511,696957,26520,425,288Form
11Ballard, Charles AndrewDirectSell828202681.854,500368,325346,962Form
12Buckley, MerileeCHIEF ACCOUNTING OFFICERDirectSell819202679.50405  Form
13Blow, Marla JDirectSell819202679.5630023,8681,036,202Form
14Colburn, Richard Edward IiiChief Product & Tech OfficerDirectSell812202682.098,252677,394533,822Form
15Silverman, JoshDirectSell806202684.006,294528,69620,962,956Form
16Baker, CharlesChief Financial OfficerDirectSell806202685.881,564134,312975,304Form
17Wilson, Frederick RDirectSell804202683.2220,0001,664,36535,062,271Form
18Silverman, JoshDirectSell804202683.1141,1083,416,49814,289,319Form
19Silverman, JoshDirectSell714202679.0039,1613,093,71911,050,836Form
20Buckley, MerileeCHIEF ACCOUNTING OFFICERDirectSell708202675.3588166,38530,518Form
21Wilson, Frederick RDirectSell706202674.3920,0001,487,85532,831,678Form
22Silverman, JoshDirectSell706202674.9392,4046,923,94010,481,672Form
23Silverman, JoshDirectSell625202679.0097,3897,693,73110,324,826Form
24Silverman, JoshDirectSell617202674.0052,4793,883,4469,671,356Form
25Silverman, JoshDirectSell617202672.5050,0003,625,0009,475,315Form
26Silverman, JoshDirectSell603202668.89134,7309,281,0669,003,040Form
27Wilson, Frederick RDirectSell603202668.7920,0001,375,82031,735,283Form
28Wilson, Frederick RDirectSell526202661.6320,0001,232,67529,666,105Form
29Blow, Marla JDirectSell519202658.2530017,474500,393Form
30Baker, CharlesChief Financial OfficerDirectSell505202663.502,030128,898438,952Form
31Colburn, Richard Edward IiiChief Product & Tech OfficerDirectSell505202665.094,776310,870423,280Form
32Silverman, JoshDirectSell505202664.1888,3505,670,1728,387,747Form
33Silverman, JoshDirectSell501202669.0036,4432,514,5679,017,886Form
34Silverman, JoshDirectSell423202665.0070,0004,550,0008,495,110Form
35Silverman, JoshDirectSell420202664.0030,3691,943,6168,364,416Form
36Silverman, JoshDirectSell420202659.0024,2961,433,4647,710,946Form
37Silverman, JoshDirectSell408202654.0012,148655,9927,057,476Form
38Buckley, MerileeCHIEF ACCOUNTING OFFICERDirectSell408202652.921,993  Form
39Silverman, JoshDirectSell403202649.076,074298,0246,412,559Form
40Ballard, Charles AndrewDirectSell305202655.741,79099,775223,294Form
41Baker, CharlesChief Financial OfficerDirectSell225202653.797,638410,816331,374Form
42Colburn, Richard Edward IiiChief Product & Tech OfficerDirectSell225202651.922,500129,800299,630Form
43Blow, Marla JDirectSell219202644.6830013,405397,290Form
44Silverman, JoshDirectSell203202653.2621,6661,153,8304,828,181Form
45Buckley, MerileeCHIEF ACCOUNTING OFFICERDirectSell105202658.455,636  Form
46Silverman, JoshDirectSell105202657.4686,6664,980,1705,209,738Form
47Silverman, JoshChief Executive OfficerDirectSell1203202554.6721,6661,184,3924,315,658Form
48Blow, Marla JDirectSell1121202552.3530015,706481,176Form
49Minor, BradleyChief Marketing OfficerDirectSell1106202557.813,095178,922426,233Form
50Colburn, Richard Edward IiiChief Product & Tech OfficerDirectSell1106202557.803,200184,960253,569Form
51Silverman, JoshChief Executive OfficerDirectSell1104202561.4621,6661,331,6424,852,203Form
52Buckley, MerileeCHIEF ACCOUNTING OFFICERDirectSell1104202561.4711,827  Form
53Patel, Goyal KrutiPresident&Chief Growth OfficerDirectSell1003202575.017,685576,4364,113,439Form
54Silverman, JoshChief Executive OfficerDirectSell1003202570.1921,6661,520,6344,398,791Form
55Silverman, JoshChief Executive OfficerDirectSell1001202572.50150,00010,875,0004,543,865Form

Investor Activity (13F)

Updated Oct 16, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Opti Capital Management, LP$111.7 Mil8.0%36ADD +244.9%13F
No Street GP LP$35.7 Mil2.4%31New13F
Elliott Investment Management L.P.$249.9 Mil1.6%19Hold13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
No Street GP LP$35.7 Mil2.4%31New13F
Opti Capital Management, LP$111.7 Mil8.0%36ADD +244.9%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Impactive Capital LP$168.7 Mil10.7%8Exited13F
Steelhead Partners LLC$30.6 Mil2.3%24Exited13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Elliott Investment Management L.P.$249.9 Mil1.6%19Hold13F
Opti Capital Management, LP$111.7 Mil8.0%36ADD +244.9%13F
No Street GP LP$35.7 Mil2.4%31New13F
Core Cache Last Updated: 10/15/2026