Take-Two Interactive Software (TTWO)
Market Price (7/11/2026): $243.03 | Market Cap: $45.1 BilInvestor Relations Sector: Communication Services | Industry: Interactive Home Entertainment
Take-Two Interactive Software (TTWO)
Market Price (7/11/2026): $243.03Market Cap: $45.1 BilSector: Communication ServicesIndustry: Interactive Home Entertainment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 18% Low stock price volatilityVol 12M is 31% Megatrend and thematic driversMegatrends include Digital Content & Streaming. Themes include Gaming Content & Platforms. | Weak multi-year price returns3Y Excs Rtn is -2.7% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -109 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1.6% Expensive valuation multiplesP/SPrice/Sales ratio is 6.8x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 72x Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.0% Key risksTTWO key risks include [1] heavy financial dependence on a few blockbuster franchises and the significant impact of their development delays, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 18% |
| Low stock price volatilityVol 12M is 31% |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming. Themes include Gaming Content & Platforms. |
| Weak multi-year price returns3Y Excs Rtn is -2.7% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -109 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1.6% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 6.8x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 72x |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.0% |
| Key risksTTWO key risks include [1] heavy financial dependence on a few blockbuster franchises and the significant impact of their development delays, Show more. |
Qualitative Assessment
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Take-Two Interactive Software (TTWO) stock has gained about 25% since 3/31/2026 because of the following key factors:
1. Exceptional Fiscal Q4 2026 Performance and Optimistic Fiscal Year 2027 Outlook. Take-Two reported strong net bookings of $1.58 billion for fiscal Q4 2026 (ended March 31, 2026), surpassing its guidance range. The company achieved record net bookings of $6.72 billion for the full fiscal year 2026. Management provided an initial outlook for fiscal year 2027 (ending March 31, 2027) projecting record net bookings between $8.0 billion and $8.2 billion, representing approximately 20% growth over fiscal 2026, primarily driven by the anticipated launch of Grand Theft Auto VI (GTA VI).
2. Confirmation of Grand Theft Auto VI Launch and Pre-orders. Rockstar Games, a publishing label of Take-Two, officially announced on June 24, 2026, that pre-orders for Grand Theft Auto VI would commence on June 25, 2026. This announcement confirmed the highly anticipated game's release date as November 19, 2026, for PlayStation 5 and Xbox Series X|S, solidifying a major catalyst for investor confidence.
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Take-Two Interactive Software (TTWO) stock has gained about 25% since 3/31/2026 because of the following key factors:
1. Exceptional Fiscal Q4 2026 Performance and Optimistic Fiscal Year 2027 Outlook. Take-Two reported strong net bookings of $1.58 billion for fiscal Q4 2026 (ended March 31, 2026), surpassing its guidance range. The company achieved record net bookings of $6.72 billion for the full fiscal year 2026. Management provided an initial outlook for fiscal year 2027 (ending March 31, 2027) projecting record net bookings between $8.0 billion and $8.2 billion, representing approximately 20% growth over fiscal 2026, primarily driven by the anticipated launch of Grand Theft Auto VI (GTA VI).
2. Confirmation of Grand Theft Auto VI Launch and Pre-orders. Rockstar Games, a publishing label of Take-Two, officially announced on June 24, 2026, that pre-orders for Grand Theft Auto VI would commence on June 25, 2026. This announcement confirmed the highly anticipated game's release date as November 19, 2026, for PlayStation 5 and Xbox Series X|S, solidifying a major catalyst for investor confidence.
3. Widespread Analyst Upgrades and Bullish Price Targets. During this period, numerous Wall Street analysts reiterated or upgraded their ratings and price targets for Take-Two. For instance, on June 23, 2026, Bank of America raised its price target to $368 from $320, citing a stronger monetization outlook for Grand Theft Auto Online following the GTA VI launch. The overall analyst consensus remained "Strong Buy" or "Moderate Buy," with an average price target indicating significant potential upside.
4. Significant Insider Selling by Executive Leadership. Despite the positive stock performance, several key executives engaged in substantial share sales. Over the 30 days leading up to June 29, 2026, insiders reported selling a total of 327.61K shares valued at $108.19 million, with no reported purchases. Notably, Chairman and CEO Strauss Zelnick's sales over the last six months were estimated at over $75 million, President Karl Slatoff's at over $56 million, Chief Legal Officer Daniel P. Emerson's at over $9 million, and CFO Lainie Goldstein's at over $6 million.
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Stock Movement Drivers
Fundamental Drivers
The 23.1% change in TTWO stock from 3/31/2026 to 7/10/2026 was primarily driven by a 21.6% change in the company's P/S Multiple.| (LTM values as of) | 3312026 | 7102026 | Change |
|---|---|---|---|
| Stock Price ($) | 197.50 | 243.20 | 23.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6,559 | 6,656 | 1.5% |
| P/S Multiple | 5.6 | 6.8 | 21.6% |
| Shares Outstanding (Mil) | 185 | 185 | -0.2% |
| Cumulative Contribution | 23.1% |
Market Drivers
3/31/2026 to 7/10/2026| Return | Correlation | |
|---|---|---|
| TTWO | 23.1% | |
| Market (SPY) | 16.1% | 18.3% |
| Sector (XLC) | 0.7% | 23.9% |
Fundamental Drivers
The -5.0% change in TTWO stock from 12/31/2025 to 7/10/2026 was primarily driven by a -10.9% change in the company's P/S Multiple.| (LTM values as of) | 12312025 | 7102026 | Change |
|---|---|---|---|
| Stock Price ($) | 256.03 | 243.20 | -5.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6,220 | 6,656 | 7.0% |
| P/S Multiple | 7.6 | 6.8 | -10.9% |
| Shares Outstanding (Mil) | 185 | 185 | -0.4% |
| Cumulative Contribution | -5.0% |
Market Drivers
12/31/2025 to 7/10/2026| Return | Correlation | |
|---|---|---|
| TTWO | -5.0% | |
| Market (SPY) | 11.0% | 30.1% |
| Sector (XLC) | -4.9% | 33.2% |
Fundamental Drivers
The 0.1% change in TTWO stock from 6/30/2025 to 7/10/2026 was primarily driven by a 18.2% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 6302025 | 7102026 | Change |
|---|---|---|---|
| Stock Price ($) | 242.85 | 243.20 | 0.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,634 | 6,656 | 18.2% |
| P/S Multiple | 7.6 | 6.8 | -11.2% |
| Shares Outstanding (Mil) | 177 | 185 | -4.6% |
| Cumulative Contribution | 0.1% |
Market Drivers
6/30/2025 to 7/10/2026| Return | Correlation | |
|---|---|---|
| TTWO | 0.1% | |
| Market (SPY) | 23.2% | 28.7% |
| Sector (XLC) | 3.9% | 36.6% |
Fundamental Drivers
The 65.3% change in TTWO stock from 6/30/2023 to 7/10/2026 was primarily driven by a 46.6% change in the company's P/S Multiple.| (LTM values as of) | 6302023 | 7102026 | Change |
|---|---|---|---|
| Stock Price ($) | 147.16 | 243.20 | 65.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,350 | 6,656 | 24.4% |
| P/S Multiple | 4.6 | 6.8 | 46.6% |
| Shares Outstanding (Mil) | 168 | 185 | -9.4% |
| Cumulative Contribution | 65.3% |
Market Drivers
6/30/2023 to 7/10/2026| Return | Correlation | |
|---|---|---|
| TTWO | 65.3% | |
| Market (SPY) | 76.3% | 38.0% |
| Sector (XLC) | 77.0% | 41.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| TTWO Return | -14% | -41% | 55% | 14% | 39% | -4% | 18% |
| Peers Return | 44% | -41% | 90% | 53% | 28% | -7% | 193% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| TTWO Win Rate | 25% | 25% | 67% | 50% | 58% | 43% | |
| Peers Win Rate | 58% | 32% | 72% | 67% | 53% | 49% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 57% | |
Max Drawdowns [4] | |||||||
| TTWO Max Drawdown | -32% | -49% | -13% | -20% | -12% | -26% | |
| Peers Max Drawdown | -17% | -50% | -22% | -22% | -30% | -24% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: EA, MSFT, RBLX, AMZN, NVDA. See TTWO 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 7/10/2026 (YTD)
How Low Can It Go
| Event | TTWO | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -11.9% | -9.5% |
| % Gain to Breakeven | 13.5% | 10.5% |
| Time to Breakeven | 19 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -42.0% | -24.5% |
| % Gain to Breakeven | 72.4% | 32.4% |
| Time to Breakeven | 912 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -11.8% | -33.7% |
| % Gain to Breakeven | 13.4% | 50.9% |
| Time to Breakeven | 6 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -27.4% | -19.2% |
| % Gain to Breakeven | 37.8% | 23.8% |
| Time to Breakeven | 512 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -12.5% | -12.2% |
| % Gain to Breakeven | 14.3% | 13.9% |
| Time to Breakeven | 51 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -11.9% | -6.8% |
| % Gain to Breakeven | 13.5% | 7.3% |
| Time to Breakeven | 17 days | 15 days |
In The Past
Take-Two Interactive Software's stock fell -9.6% during the 2025 US Tariff Shock. Such a loss loss requires a 10.6% gain to breakeven.
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| Event | TTWO | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -42.0% | -24.5% |
| % Gain to Breakeven | 72.4% | 32.4% |
| Time to Breakeven | 912 days | 427 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -27.4% | -19.2% |
| % Gain to Breakeven | 37.8% | 23.8% |
| Time to Breakeven | 512 days | 105 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -23.3% | -17.9% |
| % Gain to Breakeven | 30.4% | 21.8% |
| Time to Breakeven | 57 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -20.2% | -15.4% |
| % Gain to Breakeven | 25.3% | 18.2% |
| Time to Breakeven | 124 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -70.0% | -53.4% |
| % Gain to Breakeven | 233.5% | 114.4% |
| Time to Breakeven | 1633 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -38.3% | -8.6% |
| % Gain to Breakeven | 62.0% | 9.5% |
| Time to Breakeven | 193 days | 47 days |
In The Past
Take-Two Interactive Software's stock fell -9.6% during the 2025 US Tariff Shock. Such a loss loss requires a 10.6% 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 Take-Two Interactive Software (TTWO)
Take-Two Interactive Software, Inc. (TTWO) is a global developer, publisher, and marketer of interactive entertainment solutions. The company operates through several prominent labels, including Rockstar Games, 2K, Private Division, Social Point, and Playdots, allowing it to offer a diverse portfolio of games across various genres and platforms to consumers worldwide.
The company's main products encompass a wide range of highly successful franchises. For action/adventure, it is known for blockbusters like Grand Theft Auto and Red Dead Redemption. In sports simulation, Take-Two publishes popular titles such as the NBA 2K series, WWE 2K, and PGA TOUR 2K. Its portfolio also includes acclaimed strategy games like Sid Meier's Civilization, role-playing titles such as BioShock and Borderlands, and independent games like Kerbal Space Program and The Outer Worlds. Additionally, Take-Two has a significant presence in the free-to-play mobile market with games like Dragon City, Monster Legends, and Two Dots.
Take-Two's primary customers are global consumers of interactive entertainment, and its products are designed for accessibility across all major gaming platforms. These include console gaming systems (PlayStation, Xbox, Nintendo Switch), personal computers, smartphones, and tablets. The company utilizes a comprehensive distribution strategy, providing its products through physical retail, digital downloads, various online platforms, and cloud streaming services to reach its broad international market.
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Here are a couple of analogies for Take-Two Interactive Software (TTWO):
A Disney for video games, owning many beloved and blockbuster franchises like Grand Theft Auto and NBA 2K.
A Warner Bros. for interactive entertainment, developing and publishing a diverse portfolio of major game titles across different genres.
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- Grand Theft Auto Series: A prominent action/adventure video game franchise.
- Red Dead Redemption Series: An acclaimed action/adventure western-themed video game franchise.
- NBA 2K Series: A leading basketball sports simulation video game franchise.
- WWE 2K Series: A professional wrestling sports simulation video game series.
- PGA TOUR 2K Series: A golf sports simulation video game series.
- Sid Meier's Civilization Series: A popular turn-based strategy video game franchise.
- Borderlands Series: A well-known shooter and role-playing video game series.
- BioShock Series: A critically acclaimed shooter, action, and role-playing video game series.
- Kerbal Space Program: A spaceflight simulation video game known for its realistic orbital mechanics.
- Dragon City & Monster Legends: Popular free-to-play mobile games focusing on creature collection and battling.
- Two Dots: A popular free-to-play mobile puzzle game.
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Take-Two Interactive Software (TTWO) primarily sells its interactive entertainment solutions directly to individual consumers worldwide.
Based on the platforms and types of games it offers, the company serves the following categories of customers:
- Console Gamers: Individuals who play video games on dedicated gaming consoles such as PlayStation, Xbox, and Nintendo Switch. This category enjoys a wide range of Take-Two's flagship titles, including action/adventure series like Grand Theft Auto and Red Dead Redemption, sports simulations like NBA 2K and WWE 2K, and various other genres like shooters (Borderlands) and role-playing games.
- PC Gamers: Individuals who play video games on personal computers. This customer base typically engages with many of Take-Two's console titles that are also released on PC, as well as strategy-focused games like Sid Meier's Civilization and XCOM series, which often have a strong PC following.
- Mobile Gamers: Individuals who play free-to-play games on smartphones and tablets. This category is targeted by Take-Two's mobile-focused labels like Social Point and Playdots, offering games such as Dragon City, Monster Legends, and Two Dots.
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- Sony Group Corporation (NYSE: SONY)
- Microsoft Corporation (NASDAQ: MSFT)
- Nintendo Co., Ltd. (OTC: NTDOY)
- Apple Inc. (NASDAQ: AAPL)
- Alphabet Inc. (NASDAQ: GOOGL)
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Strauss Zelnick, Chairman and Chief Executive Officer
Strauss Zelnick is the founder, CEO, and managing partner of the private equity firm ZMC, which he established in 2001. He became Chairman of Take-Two Interactive in 2007 and assumed the role of Chief Executive Officer in 2011. Prior to his tenure at Take-Two, Mr. Zelnick served as President and CEO of BMG Entertainment from 1995 to 2000, President and CEO of Crystal Dynamics from 1993 to 1995, and President and COO of 20th Century Fox from 1989 to 1993. He also held positions as President and COO of Vestron Inc. and Vice President of International Television Sales at Columbia Pictures. His background includes a pattern of managing companies, and his involvement with ZMC highlights his focus on investments in media and communications enterprises.
Lainie Goldstein, Chief Financial Officer
Lainie Goldstein became the Chief Financial Officer of Take-Two Interactive Software, Inc. in 2007. She initially joined the company in 2003 as Senior Vice President of Finance. Ms. Goldstein possesses over 30 years of financial and business experience across the software, entertainment, retail, and apparel industries. Before joining Take-Two, she held several roles at Nautica Enterprises, culminating in her position as Vice President of Finance and Business Development. Earlier in her career, she worked in the audit and reorganization departments at Grant Thornton LLP. Ms. Goldstein is a Certified Public Accountant (CPA).
Karl Slatoff, President
Karl Slatoff has served as President of Take-Two Interactive since May 2013. Before this, he was the company's Chief Operating Officer from 2010 to 2013 and Executive Vice President from 2008 to 2010. Mr. Slatoff is a Partner at ZelnickMedia (ZMC), a private equity firm, which he joined in 2001. At ZMC, his responsibilities include originating, structuring, and monitoring investments, with a particular focus on direct marketing and interactive entertainment. His prior experience includes working as Vice President of New Media for BMG Entertainment, in strategic planning and corporate development at The Walt Disney Company, and in corporate finance and mergers and acquisitions at Lehman Brothers.
Daniel P. Emerson, Executive Vice President and Chief Legal Officer
Daniel P. Emerson holds the position of Executive Vice President and Chief Legal Officer at Take-Two Interactive. In this role, he is responsible for managing all legal and governmental affairs for the company.
Sam Houser, Co-founder and President of Rockstar Games
Sam Houser is a co-founder and the current President of Rockstar Games, a subsidiary of Take-Two Interactive. He co-founded Rockstar Games in 1998 with his brother, Dan Houser, and others. Mr. Houser is a key creative force behind the Grand Theft Auto franchise, serving as its producer since the third game. Before establishing Rockstar Games, he worked in music production and served as the Head of Development at BMG Interactive.
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The key risks to Take-Two Interactive Software's (TTWO) business primarily revolve around its dependence on major franchises, intense industry competition, and the financial challenges associated with game development and acquisitions.
- Dependence on Key Franchises and Success of New Releases: Take-Two Interactive heavily relies on the sustained popularity and commercial success of its tentpole franchises, most notably Grand Theft Auto and NBA 2K. The timely release and significant market acceptance of new installments, particularly the highly anticipated Grand Theft Auto VI, are crucial to the company's revenue and profitability. Any delays in product releases or a lack of market acceptance for these "hit" titles or sequels could substantially decrease revenue and lead to losses.
- Intense Competition and Evolving Consumer Preferences: The interactive entertainment industry is highly competitive and characterized by rapidly changing consumer tastes and technological advancements. Take-Two must continually innovate to maintain its market position against established competitors and adapt to emerging trends, such as shifts in mobile and social gaming, as well as new platforms and distribution channels. Failure to innovate or adapt effectively could result in a loss of market share and impact financial performance.
- High Development Costs, Operational Losses, and Goodwill Impairment: Developing high-quality AAA games requires substantial financial investment and often involves extended development cycles. The company has reported significant operational losses, including a substantial net loss of $4,478.9 million for the fiscal year ended March 31, 2025, largely attributed to a goodwill impairment charge of $3,545.2 million related to a reduction in the forecasted performance of certain games. These financial setbacks, alongside increased operational expenses and heavy spending on development and acquisitions, raise concerns about the company's ability to sustain growth and manage its portfolio effectively.
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The accelerating shift towards subscription-based gaming services offered by platform holders (e.g., Xbox Game Pass, PlayStation Plus) and other tech giants represents an emerging threat. This trend, analogous to how Netflix disrupted Blockbuster's individual rental model, could devalue Take-Two's traditional premium game sales and shift power to platform holders, potentially impacting licensing terms and overall revenue streams for publishers focused on upfront game purchases.
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Take-Two Interactive Software, Inc. (NASDAQ: TTWO) operates within several significant addressable markets for its diverse portfolio of interactive entertainment. The company's main products and services cater to various segments of the global video game industry, including mobile, action/adventure, role-playing, strategy, and sports simulation games.
Overall Global Video Game Market
The global video game market, encompassing all platforms and genres, was valued at an estimated USD 239.92 billion in 2025 and is projected to grow to USD 415.78 billion by 2034, exhibiting a Compound Annual Growth Rate (CAGR) of 6.30% from 2026 to 2034. Another estimate places the global games market at USD 187.7 billion in 2024, with a projected growth to USD 213.3 billion in 2027 at a CAGR of 3.1% from 2022-2027. More broadly, the global video games market was valued at USD 337.85 billion in 2025 and is projected to reach USD 703.38 billion by 2031, growing at a CAGR of 13.0% during the forecast period.
Mobile Gaming Market
For its free-to-play mobile games under the Social Point and Playdots labels (e.g., Dragon City, Monster Legends, Two Dots), Take-Two Interactive addresses a substantial global mobile gaming market. This market was valued at USD 121 billion in 2025 and is projected to grow to USD 289.21 billion by 2034, at a CAGR of 9.74%. Other estimates for the global mobile games market include USD 148.92 billion in 2026, projected to reach USD 241.66 billion by 2031 with a 10.17% CAGR. The Asia Pacific region notably dominated the mobile gaming market, holding a market share of 52.30% in 2024. The U.S. mobile gaming market is expected to reach USD 67.61 billion by 2032.
Action/Adventure Games Market
Take-Two's prominent action/adventure titles like Grand Theft Auto and Red Dead Redemption operate within a significant market. The global action games market was valued at USD 17.63 billion in 2024 and is expected to reach USD 30.33 billion by 2032, expanding at a CAGR of 7.03% from 2025 to 2032. Within this, action-adventure games represented a 38.42% revenue share in 2024. The global adventure games market size was valued at USD 16.2 billion in 2024 and is projected to reach USD 30 billion by 2032, growing at a CAGR of 9% from 2026-2032. The U.S. market holds approximately 34% of the global adventure games revenue. The PC action-adventure games market was valued at USD 7.15 billion in 2024 and is expected to grow to USD 12.3 billion by 2035, at a CAGR of 5.0%.
Role-Playing Games (RPG) Market
With franchises such as BioShock, Borderlands, XCOM series, and The Outer Worlds, Take-Two addresses the global RPG market. This market was valued at approximately USD 26.33 billion in 2025 and is projected to reach USD 50.82 billion by 2034, growing at a CAGR of 7.58% from 2025 to 2034. Another source reported the RPG Games Market size at USD 40 billion in 2024, with an expected increase to USD 65 billion by 2035, at a CAGR of 4.5% during the forecast period. The global RPG Games Market is also projected to reach USD 31.34 billion in 2026, hitting USD 121 billion by 2035, at a CAGR of 16.2%. The North American RPG market is expected to continue its growth trajectory, with a projected CAGR of 6.5% from 2025 to 2033.
Strategy Games Market
Take-Two's Sid Meier's Civilization and XCOM series target the strategy games market. The global strategy games market size was USD 17.6 billion in 2023 and is expected to reach approximately USD 38.4 billion by 2033, growing at a CAGR of 8.1% from 2024 to 2033. The online strategy games market specifically was valued at USD 21.44 billion in 2025 and is estimated to grow to USD 36.74 billion by 2031, at a CAGR of 9.39% from 2026-2031. The turn-based strategy games market, a sub-segment, was valued at USD 6.9 billion in 2024 and is projected to reach USD 15.2 billion by 2033, growing at a CAGR of 10.4%.
Sports Simulation Market
The company's NBA 2K, WWE 2K, and PGA TOUR 2K series fall within the sports simulation market. The global sports simulators market was valued at USD 4.97 billion in 2025 and is expected to reach USD 9.87 billion by 2032, growing at a CAGR of 10.27%. Another report valued the sports simulators market at USD 5.72 billion in 2025, growing to USD 6.62 billion in 2026 at a CAGR of 15.8%, and is expected to reach USD 11.16 billion in 2030. More broadly, the global virtual sports market, which includes sports simulators, is calculated at USD 22.42 billion in 2025 and is predicted to increase to approximately USD 105.50 billion by 2035, expanding at a CAGR of 16.75% from 2026 to 2035.
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- Launch of Grand Theft Auto VI: The highly anticipated release of Grand Theft Auto VI (GTA VI) on November 19, 2026, is projected to be a monumental revenue driver for the company, particularly in fiscal year 2027. Management expects this title to establish a new financial baseline and drive record net bookings.
- Sustained Growth in Recurrent Consumer Spending (RCS): Recurrent consumer spending, which includes virtual currency, add-on content, and in-game purchases, consistently accounts for a substantial portion of Take-Two's net bookings, ranging from 76% to 83% of the total. This area is forecast to continue its growth, notably through strong engagement in titles like Grand Theft Auto Online and the NBA 2K series, as well as mobile games.
- Expansion and Performance of the Mobile Gaming Portfolio: The company's mobile gaming segment, significantly bolstered by the Zynga acquisition, is a major contributor to net bookings, projected to contribute approximately 46% of total net bookings for the year. Continued strong performance from popular mobile titles such as Toon Blast, Match Factory, Empires & Puzzles, and Words With Friends is anticipated to fuel further revenue growth.
- New Releases and Continued Strength of Core Franchises: Beyond Grand Theft Auto, the consistent success and introduction of new iterations within established franchises like the NBA 2K series remain crucial. The NBA 2K franchise, for instance, is on track to achieve its highest annual net bookings and revenue contribution in its history. Upcoming releases for other key franchises, including Borderlands 4, Mafia: The Old Country, and Civilization VII for platforms like Apple Arcade and Nintendo Switch 2, are also expected to contribute to revenue expansion.
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Share Repurchases
Take-Two Interactive Software has not made any significant share repurchases over the last 3-5 years. Data indicates a cessation of buybacks and a negative share buyback ratio as of February 2026, suggesting a trend of share issuance rather than repurchases.Share Issuance
In May 2025, Take-Two conducted a public offering of 4.75 million shares of its common stock at $225.00 per share, with an option for underwriters to purchase up to an additional 712,500 shares. This offering aimed to raise approximately $1.04 billion to $1.19 billion, with net proceeds intended for general corporate purposes, including debt repayment and future acquisitions. The company's shares outstanding increased by 36.9% in 2023 from 2022, 6.38% in 2024 from 2023, and 2.94% in 2025 from 2024. A significant share issuance occurred as part of the January 2022 acquisition of Zynga, a $12.7 billion cash-and-stock transaction, where Zynga stockholders received Take-Two common stock.Outbound Investments
Take-Two acquired mobile game developer Zynga in May 2022 for approximately $12.7 billion through a cash-and-stock transaction, strategically expanding its presence in the mobile gaming market. In March 2024, the company announced the acquisition of Gearbox Entertainment Company, developer of the Borderlands franchise, for $460 million in Take-Two common stock. This acquisition was expected to close in Q1 FY2025. The company has also engaged in divesting non-core assets, such as the Private Division label in 2024, to streamline its operations.Capital Expenditures
Take-Two Interactive Software's capital expenditures (CAPEX) averaged $148.6 million from fiscal years ending March 2021 to 2025. CAPEX reached a peak of $204.2 million in March 2023. For fiscal year 2026, expected capital expenditures are projected at $166.1 million, and for fiscal year 2027, they are estimated to be $177.4 million. Capital expenditures are generally focused on long-term assets such as office buildings, machines, and vehicles.Latest Trefis Analyses
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 227.08 |
| Mkt Cap | 1,343.6 |
| Rev LTM | 130,511 |
| Op Inc LTM | 43,292 |
| FCF LTM | 1,922 |
| FCF 3Y Avg | 11,722 |
| CFO LTM | 64,100 |
| CFO 3Y Avg | 41,546 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 18.0% |
| Rev Chg 3Y Avg | 13.8% |
| Rev Chg Q | 17.5% |
| QoQ Delta Rev Chg LTM | 3.9% |
| Op Inc Chg LTM | 20.6% |
| Op Inc Chg 3Y Avg | 30.6% |
| Op Mgn LTM | 13.5% |
| Op Mgn 3Y Avg | 14.7% |
| QoQ Delta Op Mgn LTM | 1.5% |
| CFO/Rev LTM | 35.7% |
| CFO/Rev 3Y Avg | 29.1% |
| FCF/Rev LTM | 25.8% |
| FCF/Rev 3Y Avg | 23.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 1,343.6 |
| P/S | 7.1 |
| P/Op Inc | 25.0 |
| P/EBIT | 20.3 |
| P/E | 25.9 |
| P/CFO | 20.0 |
| Total Yield | 2.5% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 2.4% |
| D/E | 0.0 |
| Net D/E | -0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 4.2% |
| 3M Rtn | 3.5% |
| 6M Rtn | -1.9% |
| 12M Rtn | 6.9% |
| 3Y Rtn | 56.9% |
| 1M Excs Rtn | -0.9% |
| 3M Excs Rtn | -6.8% |
| 6M Excs Rtn | -11.5% |
| 12M Excs Rtn | -15.6% |
| 3Y Excs Rtn | -5.9% |
Comparison Analyses
Price Behavior
| Market Price | $243.20 | |
| Market Cap ($ Bil) | 45.1 | |
| First Trading Date | 04/15/1997 | |
| Distance from 52W High | -7.3% | |
| 50 Days | 200 Days | |
| DMA Price | $229.90 | $230.68 |
| DMA Trend | indeterminate | up |
| Distance from DMA | 5.8% | 5.4% |
| 3M | 1YR | |
| Volatility | 34.6% | 30.8% |
| Downside Capture | -9.70 | 81.11 |
| Upside Capture | 75.95 | 66.13 |
| Correlation (SPY) | 19.4% | 29.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.73 | 0.44 | 0.50 | 0.79 | 0.71 | 0.71 |
| Up Beta | 1.53 | 1.10 | 0.81 | 0.63 | 0.86 | 0.57 |
| Down Beta | 0.12 | 0.39 | 0.34 | 0.34 | 0.54 | 0.81 |
| Up Capture | 149% | 78% | 75% | 88% | 56% | 50% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 11 | 21 | 35 | 60 | 123 | 407 |
| Down Capture | 14% | -24% | -13% | 113% | 86% | 89% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 10 | 20 | 28 | 65 | 128 | 343 |
[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 TTWO | |
|---|---|---|---|---|
| TTWO | 0.4% | 30.8% | 0.03 | - |
| Sector ETF (XLC) | 5.3% | 13.8% | 0.14 | 36.9% |
| Equity (SPY) | 22.1% | 12.5% | 1.31 | 29.0% |
| Gold (GLD) | 23.5% | 27.8% | 0.75 | 17.3% |
| Commodities (DBC) | 23.6% | 18.7% | 0.99 | 8.1% |
| Real Estate (VNQ) | 13.4% | 13.9% | 0.67 | 0.3% |
| Bitcoin (BTCUSD) | -43.4% | 42.8% | -1.21 | 20.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TTWO | |
|---|---|---|---|---|
| TTWO | 6.1% | 32.5% | 0.23 | - |
| Sector ETF (XLC) | 7.5% | 20.8% | 0.28 | 47.2% |
| Equity (SPY) | 13.4% | 17.1% | 0.61 | 42.3% |
| Gold (GLD) | 17.8% | 18.3% | 0.79 | 10.5% |
| Commodities (DBC) | 7.3% | 19.5% | 0.27 | 10.5% |
| Real Estate (VNQ) | 2.9% | 18.9% | 0.05 | 28.2% |
| Bitcoin (BTCUSD) | 13.5% | 53.4% | 0.44 | 22.0% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TTWO | |
|---|---|---|---|---|
| TTWO | 20.7% | 34.1% | 0.64 | - |
| Sector ETF (XLC) | 9.2% | 22.2% | 0.47 | 51.4% |
| Equity (SPY) | 15.6% | 17.9% | 0.75 | 43.8% |
| Gold (GLD) | 11.6% | 16.1% | 0.59 | 10.5% |
| Commodities (DBC) | 6.0% | 18.0% | 0.26 | 11.7% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.21 | 27.1% |
| Bitcoin (BTCUSD) | 58.3% | 66.2% | 0.98 | 13.6% |
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Returns Analyses
Earnings Returns History
Updated 6/25/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/21/2026 | -4.4% | -5.8% | 1.9% |
| 2/3/2026 | -5.4% | -0.7% | 0.2% |
| 11/6/2025 | -8.1% | -5.9% | -1.5% |
| 8/7/2025 | -4.0% | 2.9% | 9.8% |
| 5/15/2025 | -2.4% | -2.7% | 2.7% |
| 2/6/2025 | 14.0% | 14.8% | 10.3% |
| 11/6/2024 | 7.5% | 9.2% | 13.9% |
| 8/8/2024 | 4.4% | 5.5% | 12.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 11 | 15 |
| # Negative | 11 | 11 | 7 |
| Median Positive | 5.9% | 7.3% | 8.3% |
| Median Negative | -4.4% | -5.0% | -9.6% |
| Max Positive | 14.0% | 14.8% | 14.6% |
| Max Negative | -8.7% | -8.2% | -22.7% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/21/2026 | -4.4% | -5.8% | 1.9% |
| 2/3/2026 | -5.4% | -0.7% | 0.2% |
| 11/6/2025 | -8.1% | -5.9% | -1.5% |
| 8/7/2025 | -4.0% | 2.9% | 9.8% |
| 5/15/2025 | -2.4% | -2.7% | 2.7% |
| 2/6/2025 | 14.0% | 14.8% | 10.3% |
| 11/6/2024 | 7.5% | 9.2% | 13.9% |
| 8/8/2024 | 4.4% | 5.5% | 12.6% |
| 5/16/2024 | 1.2% | 4.3% | 7.7% |
| 2/8/2024 | -8.7% | -7.5% | -14.0% |
| 11/8/2023 | 2.0% | 7.3% | 8.3% |
| 8/8/2023 | -0.5% | -0.4% | 1.5% |
| 5/17/2023 | 11.7% | 8.7% | 10.9% |
| 8/8/2022 | -3.8% | 1.5% | -3.9% |
| 5/16/2022 | 11.8% | 12.3% | 14.6% |
| 2/7/2022 | -1.7% | -4.6% | -9.6% |
| 11/3/2021 | 4.8% | -0.8% | -10.0% |
| 8/2/2021 | -7.7% | -7.3% | -6.9% |
| 5/18/2021 | 7.0% | 10.1% | 1.7% |
| 2/8/2021 | -6.1% | -8.2% | -22.7% |
| 11/5/2020 | 3.9% | -5.0% | 8.7% |
| 8/3/2020 | 5.9% | 4.2% | 2.9% |
| SUMMARY STATS | |||
| # Positive | 11 | 11 | 15 |
| # Negative | 11 | 11 | 7 |
| Median Positive | 5.9% | 7.3% | 8.3% |
| Median Negative | -4.4% | -5.0% | -9.6% |
| Max Positive | 14.0% | 14.8% | 14.6% |
| Max Negative | -8.7% | -8.2% | -22.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/22/2026 | 10-K |
| 12/31/2025 | 02/04/2026 | 10-Q |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/20/2025 | 10-K |
| 12/31/2024 | 02/07/2025 | 10-Q |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/22/2024 | 10-K |
| 12/31/2023 | 02/09/2024 | 10-Q |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/26/2023 | 10-K |
| 12/31/2022 | 02/07/2023 | 10-Q |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/22/2026 | 10-K |
| 12/31/2025 | 02/04/2026 | 10-Q |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/20/2025 | 10-K |
| 12/31/2024 | 02/07/2025 | 10-Q |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/22/2024 | 10-K |
| 12/31/2023 | 02/09/2024 | 10-Q |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/26/2023 | 10-K |
| 12/31/2022 | 02/07/2023 | 10-Q |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/17/2022 | 10-K |
| 12/31/2021 | 02/08/2022 | 10-Q |
| 09/30/2021 | 11/04/2021 | 10-Q |
| 06/30/2021 | 08/03/2021 | 10-Q |
| 03/31/2021 | 05/19/2021 | 10-K |
| 12/31/2020 | 02/09/2021 | 10-Q |
| 09/30/2020 | 11/06/2020 | 10-Q |
| 06/30/2020 | 08/04/2020 | 10-Q |
| 03/31/2020 | 05/22/2020 | 10-K |
| 12/31/2019 | 02/07/2020 | 10-Q |
| 09/30/2019 | 11/08/2019 | 10-Q |
| 06/30/2019 | 08/06/2019 | 10-Q |
Recent Forward Guidance
Updated 7/8/2026Latest: Q4 2026 Earnings Reported 5/21/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2027 Net Bookings | 1.32 Bil | 1.34 Bil | 1.37 Bil | -12.4% | Lower New | Guidance: 1.53 Bil for Q4 2026 | |
| Q1 2027 Total net revenue | 1.45 Bil | 1.48 Bil | 1.50 Bil | -7.7% | Lower New | Guidance: 1.60 Bil for Q4 2026 | |
| Q1 2027 Net (loss) income | -42.00 Mil | -34.50 Mil | -27.00 Mil | ||||
| Q1 2027 EBITDA | 155.00 Mil | 167.00 Mil | 179.00 Mil | ||||
| 2027 Net Bookings | 8.00 Bil | 8.10 Bil | 8.20 Bil | 21.3% | Higher New | Guidance: 6.67 Bil for 2026 | |
| 2027 Total net revenue | 7.90 Bil | 8.00 Bil | 8.10 Bil | 21.7% | Higher New | Guidance: 6.58 Bil for 2026 | |
| 2027 Net income | 105.00 Mil | 123.00 Mil | 141.00 Mil | ||||
| 2027 Diluted net income per share | 0.55 | 0.65 | 0.75 | ||||
| 2027 EBITDA | 1.01 Bil | 1.04 Bil | 1.07 Bil | ||||
Prior: Q3 2026 Earnings Reported 2/3/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2026 Net Bookings | 1.51 Bil | 1.53 Bil | 1.56 Bil | -2.5% | Lower New | Guidance: 1.57 Bil for Q3 2026 | |
| Q4 2026 Total net revenue | 1.57 Bil | 1.60 Bil | 1.62 Bil | 0.2% | Higher New | Guidance: 1.59 Bil for Q3 2026 | |
| 2026 Net Bookings | 6.65 Bil | 6.67 Bil | 6.70 Bil | 3.5% | Raised | Guidance: 6.45 Bil for 2026 | |
| 2026 Total net revenue | 6.55 Bil | 6.58 Bil | 6.60 Bil | 2.3% | Raised | Guidance: 6.43 Bil for 2026 | |
Q2 2026 Earnings Reported 11/6/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Total net revenue | 6.38 Bil | 6.43 Bil | 6.48 Bil | 4.6% | Raised | Guidance: 6.15 Bil for 2026 | |
| 2026 Net Bookings | 6.40 Bil | 6.45 Bil | 6.50 Bil | 5.7% | Raised | Guidance: 6.10 Bil for 2026 | |
| Q3 2026 Total net revenue | 1.57 Bil | 1.59 Bil | 1.62 Bil | -4.8% | Lower New | Guidance: 1.68 Bil for Q2 2026 | |
| Q3 2026 Net Bookings | 1.55 Bil | 1.57 Bil | 1.60 Bil | -8.7% | Lower New | Guidance: 1.73 Bil for Q2 2026 | |
Insider Activity
Updated 7/6/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Siminoff, Ellen F | the D&E Living Trust | Sell | 7062026 | 252.53 | 167 | 42,173 | 462,887 | Form | |
| 2 | Siminoff, Ellen F | the EFS 2020 Irrevocable Trust | Sell | 7062026 | 252.53 | 167 | 42,173 | 462,887 | Form | |
| 3 | Moses, Jon J | Direct | Sell | 6232026 | 244.61 | 500 | 122,305 | 5,349,131 | Form | |
| 4 | Emerson, Daniel P | Chief Legal Officer | Direct | Sell | 6182026 | 230.00 | 4,419 | 1,016,370 | 26,217,240 | Form |
| 5 | Moses, Jon J | Direct | Sell | 6172026 | 215.22 | 500 | 107,608 | 4,813,929 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Siminoff, Ellen F | the D&E Living Trust | Sell | 7062026 | 252.53 | 167 | 42,173 | 462,887 | Form | |
| 2 | Siminoff, Ellen F | the EFS 2020 Irrevocable Trust | Sell | 7062026 | 252.53 | 167 | 42,173 | 462,887 | Form | |
| 3 | Moses, Jon J | Direct | Sell | 6232026 | 244.61 | 500 | 122,305 | 5,349,131 | Form | |
| 4 | Emerson, Daniel P | Chief Legal Officer | Direct | Sell | 6182026 | 230.00 | 4,419 | 1,016,370 | 26,217,240 | Form |
| 5 | Moses, Jon J | Direct | Sell | 6172026 | 215.22 | 500 | 107,608 | 4,813,929 | Form | |
| 6 | Emerson, Daniel P | Chief Legal Officer | Direct | Sell | 6152026 | 215.00 | 4,421 | 950,515 | 25,457,505 | Form |
| 7 | Emerson, Daniel P | Chief Legal Officer | Direct | Sell | 6102026 | 214.00 | 8,840 | 1,891,760 | 26,285,192 | Form |
| 8 | Dornemann, Michael | Direct | Sell | 6082026 | 217.02 | 1,151 | 249,790 | 4,421,565 | Form | |
| 9 | Slatoff, Karl | President | Direct | Sell | 6032026 | 216.09 | 40,358 | Form | ||
| 10 | Goldstein, Lainie | Chief Financial Officer | Direct | Sell | 6032026 | 219.61 | 31,060 | 6,821,087 | 62,231,764 | Form |
| 11 | Emerson, Daniel P | Chief Legal Officer | Direct | Sell | 6032026 | 219.61 | 21,102 | 4,634,210 | 28,915,609 | Form |
| 12 | Slatoff, Karl | President | ZMC Advisors, L.P. | Sell | 6032026 | 227.34 | 208,969 | 47,507,973 | 228,713,438 | Form |
| 13 | Zelnick, Strauss | Chairman, CEO | ZMC Advisors, L.P. | Sell | 6032026 | 227.34 | 208,969 | 47,507,973 | 228,713,438 | Form |
| 14 | Srinivasan, Laverne Evans | Direct | Sell | 6022026 | 229.35 | 373 | 85,548 | 1,999,703 | Form | |
| 15 | Sheresky, Michael | Direct | Sell | 6012026 | 218.26 | 131 | 28,592 | 14,294,939 | Form | |
| 16 | Zelnick, Strauss | Chairman, CEO | Zelnick Belzberg Living Trust | Sell | 5282026 | 222.01 | 44,292 | 9,833,396 | 28,076,641 | Form |
| 17 | Zelnick, Strauss | Chairman, CEO | Wendy Jay Belzberg 2012 Family Trust | Sell | 5282026 | 222.81 | 5,708 | 1,271,818 | 14,279,883 | Form |
| 18 | Zelnick, Strauss | Chairman, CEO | Zelnick Belzberg Charitable Trust | Sell | 5282026 | 222.45 | 20,000 | Form | ||
| 19 | Siminoff, Ellen F | the D&E Living Trust | Sell | 4162026 | 207.66 | 270 | 56,068 | 415,320 | Form | |
| 20 | Siminoff, Ellen F | the EFS 2020 Irrevocable Trust | Sell | 4162026 | 207.66 | 143 | 29,695 | 415,320 | Form | |
| 21 | Siminoff, Ellen F | the D&E Living Trust | Sell | 3172026 | 209.36 | 270 | 56,527 | 475,247 | Form | |
| 22 | Siminoff, Ellen F | the EFS 2020 Irrevocable Trust | Sell | 3172026 | 209.36 | 143 | 29,938 | 448,658 | Form | |
| 23 | Gordon, William B | Direct | Sell | 3102026 | 208.69 | 2,500 | 521,725 | 11,898,252 | Form | |
| 24 | Dornemann, Michael | Direct | Sell | 3062026 | 213.09 | 1,390 | 296,195 | 4,586,762 | Form | |
| 25 | Zelnick, Strauss | Chairman, CEO | Zelnick Belzberg Living Trust | Sell | 3042026 | 214.16 | 7,946 | 1,701,715 | 36,569,105 | Form |
| 26 | Zelnick, Strauss | Chairman, CEO | Zelnick Belzberg Living Trust | Sell | 3042026 | 214.40 | 52,054 | 11,160,496 | 38,314,115 | Form |
| 27 | Emerson, Daniel P | Chief Legal Officer | Direct | Sell | 3022026 | 213.47 | 810 | 172,911 | 26,511,053 | Form |
| 28 | Emerson, Daniel P | Chief Legal Officer | Direct | Sell | 3022026 | 213.62 | 1,698 | 362,727 | 26,702,714 | Form |
| 29 | Siminoff, Ellen F | the D&E Living Trust | Sell | 2192026 | 200.00 | 270 | 54,000 | 508,000 | Form | |
| 30 | Siminoff, Ellen F | the EFS 2020 Irrevocable Trust | Sell | 2192026 | 200.00 | 143 | 28,600 | 457,200 | Form | |
| 31 | Sheresky, Michael | Direct | Sell | 2192026 | 194.73 | 155 | 30,183 | 12,779,351 | Form | |
| 32 | Siminoff, Ellen F | the D&E Living Trust | Sell | 1162026 | 245.48 | 270 | 66,280 | 689,799 | Form | |
| 33 | Siminoff, Ellen F | the EFS 2020 Irrevocable Trust | Sell | 1162026 | 245.48 | 144 | 35,349 | 596,271 | Form | |
| 34 | Siminoff, Ellen F | the D&E Living Trust | Sell | 12172025 | 242.71 | 270 | 65,532 | 747,547 | Form | |
| 35 | Siminoff, Ellen F | the EFS 2020 Irrevocable Trust | Sell | 12172025 | 242.71 | 143 | 34,708 | 624,493 | Form | |
| 36 | Goldstein, Lainie | Chief Financial Officer | Direct | Sell | 12042025 | 248.11 | 1,612 | 399,953 | 67,601,539 | Form |
| 37 | Emerson, Daniel P | Chief Legal Officer | Direct | Sell | 12042025 | 248.11 | 1,107 | 274,658 | 31,435,289 | Form |
| 38 | Srinivasan, Laverne Evans | Direct | Sell | 11182025 | 238.27 | 1,350 | 321,664 | 2,166,351 | Form | |
| 39 | Sheresky, Michael | Direct | Sell | 11172025 | 235.11 | 182 | 42,790 | 15,465,771 | Form | |
| 40 | Siminoff, Ellen F | the D&E Living Trust | Sell | 11172025 | 235.95 | 270 | 63,706 | 790,432 | Form | |
| 41 | Siminoff, Ellen F | the EFS 2020 Irrevocable Trust | Sell | 11172025 | 235.95 | 144 | 33,977 | 640,840 | Form | |
| 42 | Siminoff, Ellen F | the D&E Living Trust | Sell | 10152025 | 259.42 | 268 | 69,525 | 939,100 | Form | |
| 43 | Siminoff, Ellen F | the EFS 2020 Irrevocable Trust | Sell | 10152025 | 259.42 | 143 | 37,097 | 741,941 | Form | |
| 44 | Siminoff, Ellen F | the EFS 2020 Irrevocable Trust | Sell | 9162025 | 246.25 | 144 | 35,460 | 739,489 | Form | |
| 45 | Siminoff, Ellen F | the D&E Living Trust | Sell | 9162025 | 246.25 | 270 | 66,488 | 957,420 | Form | |
| 46 | Goldstein, Lainie | Chief Financial Officer | Direct | Sell | 9092025 | 250.00 | 10,000 | 2,500,000 | 68,519,500 | Form |
| 47 | Moses, Jon J | Direct | Sell | 9052025 | 239.57 | 1,000 | 239,570 | 5,246,823 | Form | |
| 48 | Emerson, Daniel P | Chief Legal Officer | Direct | Sell | 9042025 | 241.00 | 903 | 217,623 | 30,801,246 | Form |
| 49 | Emerson, Daniel P | Chief Legal Officer | Direct | Sell | 9042025 | 236.83 | 1,083 | 256,487 | 30,482,152 | Form |
| 50 | Goldstein, Lainie | Chief Financial Officer | Direct | Sell | 9042025 | 239.57 | 11,579 | 2,773,955 | 68,055,917 | Form |
| 51 | Goldstein, Lainie | Chief Financial Officer | Direct | Sell | 9022025 | 230.64 | 20,000 | 4,612,800 | 68,190,330 | Form |
| 52 | Zelnick, Strauss | Chairman, CEO | Zelnick Belzberg Charitable Trust | Sell | 8282025 | 230.69 | 20,000 | Form | ||
| 53 | Zelnick, Strauss | Chairman, CEO | Zelnick Belzberg Living Trust | Sell | 8282025 | 231.20 | 45,000 | 10,403,856 | 65,080,741 | Form |
| 54 | Slatoff, Karl | President | Direct | Sell | 8222025 | 227.68 | 48,995 | Form | ||
| 55 | Srinivasan, Laverne Evans | Direct | Sell | 8222025 | 227.47 | 2,325 | 528,868 | 2,061,561 | Form | |
| 56 | Emerson, Daniel P | Chief Legal Officer | Direct | Sell | 8222025 | 227.47 | 22,479 | 5,113,298 | 29,523,786 | Form |
| 57 | Sheresky, Michael | Direct | Sell | 8182025 | 233.47 | 198 | 46,227 | 15,174,616 | Form | |
| 58 | Moses, Jon J | Direct | Sell | 8182025 | 231.33 | 1,000 | 231,330 | 5,297,688 | Form | |
| 59 | Siminoff, Ellen F | the D&E Living Trust | Sell | 8182025 | 233.65 | 268 | 62,618 | 971,517 | Form | |
| 60 | Siminoff, Ellen F | the EFS 2020 Irrevocable Trust | Sell | 8182025 | 233.65 | 143 | 33,412 | 735,297 | Form | |
| 61 | Siminoff, Ellen F | the D&E Living Trust | Sell | 7162025 | 237.80 | 270 | 64,206 | 1,052,503 | Form | |
| 62 | Siminoff, Ellen F | the EFS 2020 Irrevocable Trust | Sell | 7162025 | 237.80 | 144 | 34,243 | 782,362 | Form |
Investor Activity (13F)
Updated Jul 11, 2026Active 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 and community-bank filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| One Madison Group LLC | $42.3 Mil | 4.9% | 28 | TRIM -11.9% | 13F |
| LHM, Inc. | $9.6 Mil | 3.8% | 22 | ADD +21.2% | 13F |
| Generali Powszechne Towarzystwo Emerytalne | $19.8 Mil | 3.5% | 28 | Hold | 13F |
| Blue Grotto Capital, LLC | $23.2 Mil | 2.7% | 21 | ADD +68.8% | 13F |
| Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust | $17.1 Mil | 2.5% | 28 | ADD +146.5% | 13F |
| Islander Capital Partners, L.P. | $5.2 Mil | 2.0% | 15 | Hold | 13F |
| Valiant Capital Management, L.P. | $24.1 Mil | 1.9% | 28 | TRIM -8.5% | 13F |
| Benchstone Capital Management LP | $9.9 Mil | 1.2% | 38 | TRIM -57.0% | 13F |
| Troy Asset Management Ltd | $12.8 Mil | 0.4% | 30 | Hold | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | As Of | Filing |
|---|---|---|---|---|---|---|
| Soma Equity Partners LP | $58.3 Mil | 3.4% | 16 | Exited | Dec 31, 2025 | 13F |
| Avantyr Capital Partners, LP | $21.8 Mil | 1.3% | 25 | Exited | Dec 31, 2025 | 13F |
| Alta Park Capital, LP | $9.6 Mil | 1.2% | 34 | Exited | Dec 31, 2025 | 13F |
| Benchstone Capital Management LP | $9.9 Mil | 1.2% | 38 | TRIM -57.0% | Mar 31, 2026 | 13F |
| One Madison Group LLC | $42.3 Mil | 4.9% | 28 | TRIM -11.9% | Mar 31, 2026 | 13F |
| Valiant Capital Management, L.P. | $24.1 Mil | 1.9% | 28 | TRIM -8.5% | Mar 31, 2026 | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| One Madison Group LLC | $42.3 Mil | 4.9% | 28 | TRIM -11.9% | 13F |
| Valiant Capital Management, L.P. | $24.1 Mil | 1.9% | 28 | TRIM -8.5% | 13F |
| Blue Grotto Capital, LLC | $23.2 Mil | 2.7% | 21 | ADD +68.8% | 13F |
| Generali Powszechne Towarzystwo Emerytalne | $19.8 Mil | 3.5% | 28 | Hold | 13F |
| Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust | $17.1 Mil | 2.5% | 28 | ADD +146.5% | 13F |
| Troy Asset Management Ltd | $12.8 Mil | 0.4% | 30 | Hold | 13F |
| Benchstone Capital Management LP | $9.9 Mil | 1.2% | 38 | TRIM -57.0% | 13F |
| LHM, Inc. | $9.6 Mil | 3.8% | 22 | ADD +21.2% | 13F |
| Islander Capital Partners, L.P. | $5.2 Mil | 2.0% | 15 | Hold | 13F |
Industry Resources
| Communication Services Resources |
| Variety |
| The Hollywood Reporter |
| Adweek |
| Interactive Home Entertainment Resources |
| GamesIndustry.biz |
| IGN |
| Polygon |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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