BILL (BILL)


Market Price (9/5/2026): $49.16 | Market Cap: $4.8 BilSector: Information Technology | Industry: Application Software

BILL (BILL)


Market Price (9/5/2026): $49.16
Market Cap: $4.8 Bil
Sector: Information Technology
Industry: Application Software

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

0

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 25%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 21%

Attractive yield
FCF Yield is 7.4%

Stock buyback support
Stock Buyback 3Y Total is 1.2 Bil

Megatrend and thematic drivers
Megatrends include Cloud Computing, and Fintech & Digital Payments. Themes include Software as a Service (SaaS), and Digital Payments.

Weak multi-year price returns
2Y Excs Rtn is -47%, 3Y Excs Rtn is -128%

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 11%

Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 517x

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) 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 -4.6%

Key risks
BILL key risks include [1] weakening demand from its core small and medium business (SMB) customer base, Show more.

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 25%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 21%
1 Attractive yield
FCF Yield is 7.4%
2 Stock buyback support
Stock Buyback 3Y Total is 1.2 Bil
3 Megatrend and thematic drivers
Megatrends include Cloud Computing, and Fintech & Digital Payments. Themes include Software as a Service (SaaS), and Digital Payments.
4 Weak multi-year price returns
2Y Excs Rtn is -47%, 3Y Excs Rtn is -128%
5 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 11%
6 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 517x
7 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) 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 -4.6%
9 Key risks
BILL key risks include [1] weakening demand from its core small and medium business (SMB) customer base, Show more.

BILL in ETFs

Weight = BILL's share of each fund

VTI0.01%
ITOT0.01%
IWB0.01%
IJH0.12%
VB0.05%
IGV0.14%
MDYV0.13%
IJJ0.12%
+18 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 9/3/2026

BILL (BILL) stock has gained about 35% since 5/31/2026 because of the following key factors:

1. BILL delivered strong financial results for its fiscal fourth quarter 2026 (ended June 30, 2026) and provided an optimistic outlook for fiscal year 2027. The company reported Q4 FY26 earnings per share (EPS) of $0.84, surpassing the consensus estimate of $0.71 by $0.13. Quarterly revenue also exceeded expectations, reaching $436.19 million against an estimated $430.55 million. Core revenue grew 16% year-over-year to $400.5 million, and non-GAAP operating margin expanded by 860 basis points year-over-year to 23%. Furthermore, BILL issued strong guidance for FY27, projecting non-GAAP EPS between $3.56 and $3.79, representing 33% year-over-year growth, and committed to achieving GAAP profitability and exceeding the "Rule of 40" status.

2. The company's ongoing and substantial share repurchase program demonstrated confidence and boosted shareholder value. In May 2026, BILL announced a $1.0 billion share repurchase authorization. During fiscal Q4 2026, the company repurchased approximately 8.4 million shares for a total of $300 million. Since its fiscal Q3 2026 earnings call, BILL has retired approximately 15 million shares, accounting for nearly 14% of common stock outstanding, with $400 million remaining under the authorization.

Show more
Updated on 9/3/2026

BILL (BILL) stock has gained about 35% since 5/31/2026 because of the following key factors:

1. BILL delivered strong financial results for its fiscal fourth quarter 2026 (ended June 30, 2026) and provided an optimistic outlook for fiscal year 2027. The company reported Q4 FY26 earnings per share (EPS) of $0.84, surpassing the consensus estimate of $0.71 by $0.13. Quarterly revenue also exceeded expectations, reaching $436.19 million against an estimated $430.55 million. Core revenue grew 16% year-over-year to $400.5 million, and non-GAAP operating margin expanded by 860 basis points year-over-year to 23%. Furthermore, BILL issued strong guidance for FY27, projecting non-GAAP EPS between $3.56 and $3.79, representing 33% year-over-year growth, and committed to achieving GAAP profitability and exceeding the "Rule of 40" status.

2. The company's ongoing and substantial share repurchase program demonstrated confidence and boosted shareholder value. In May 2026, BILL announced a $1.0 billion share repurchase authorization. During fiscal Q4 2026, the company repurchased approximately 8.4 million shares for a total of $300 million. Since its fiscal Q3 2026 earnings call, BILL has retired approximately 15 million shares, accounting for nearly 14% of common stock outstanding, with $400 million remaining under the authorization.

3. BILL's strategic commitment to becoming an AI-native company and its advancements in product innovation signaled future growth potential. In May 2026, BILL announced its intention to transform into an AI-native company, focusing on accelerating innovation. The company is developing an "AI moat" by leveraging its extensive proprietary financial data and a network of 9 million members. Recent product enhancements include AI-powered receipt capture, matching, and transaction coding for BILL Spend & Expense. Additionally, BILL Spend & Expense integrated directly with Rillet, an AI-native ledger, to streamline card spend and reimbursements.

4. Sustained positive analyst sentiment and favorable price targets contributed to investor confidence. As of early September 2026, analysts maintained a "Buy" or "Moderate Buy" consensus rating for BILL. The average 12-month price target ranged from $57.3 to $58.67, indicating a forecasted upside of 15.62% to 17.51% from recent prices. Some analysts raised price targets as high as $86, implying an approximate 83% upside, underscoring strong bullish sentiment for the stock.

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Stock Movement Drivers

Fundamental Drivers

The 32.8% change in BILL stock from 5/31/2026 to 9/4/2026 was primarily driven by a 26.8% change in the company's P/S Multiple.
(LTM values as of)53120269042026Change
Stock Price ($)37.0249.1632.8%
Change Contribution By: 
Total Revenues ($ Mil)1,6001,6533.3%
P/S Multiple2.32.926.8%
Shares Outstanding (Mil)99981.4%
Cumulative Contribution32.8%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2026 to 9/4/2026
ReturnCorrelation
BILL32.8% 
Market (SPY)1.8%21.3%
Sector (XLK)-2.0%-13.8%

Fundamental Drivers

The 10.4% change in BILL stock from 2/28/2026 to 9/4/2026 was primarily driven by a 6.5% change in the company's Total Revenues ($ Mil).
(LTM values as of)22820269042026Change
Stock Price ($)44.5149.1610.4%
Change Contribution By: 
Total Revenues ($ Mil)1,5521,6536.5%
P/S Multiple2.92.91.0%
Shares Outstanding (Mil)101982.7%
Cumulative Contribution10.4%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 9/4/2026
ReturnCorrelation
BILL10.4% 
Market (SPY)12.6%22.1%
Sector (XLK)35.1%6.3%

Fundamental Drivers

The 5.9% change in BILL stock from 8/31/2025 to 9/4/2026 was primarily driven by a 13.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)83120259042026Change
Stock Price ($)46.4249.165.9%
Change Contribution By: 
Total Revenues ($ Mil)1,4631,65313.0%
P/S Multiple3.32.9-11.1%
Shares Outstanding (Mil)103985.4%
Cumulative Contribution5.9%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 9/4/2026
ReturnCorrelation
BILL5.9% 
Market (SPY)20.4%31.3%
Sector (XLK)43.3%24.0%

Fundamental Drivers

The -57.4% change in BILL stock from 8/31/2023 to 9/4/2026 was primarily driven by a -74.9% change in the company's P/S Multiple.
(LTM values as of)83120239042026Change
Stock Price ($)115.3049.16-57.4%
Change Contribution By: 
Total Revenues ($ Mil)1,0581,65356.2%
P/S Multiple11.62.9-74.9%
Shares Outstanding (Mil)106988.7%
Cumulative Contribution-57.4%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2023 to 9/4/2026
ReturnCorrelation
BILL-57.4% 
Market (SPY)77.1%39.8%
Sector (XLK)117.2%32.6%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
BILL Return83%-56%-25%4%-36%-7%-63%
Peers Return-8%-34%-15%89%-46%-42%-69%
S&P 500 Return27%-19%24%23%16%13%106%

Monthly Win Rates [3]
BILL Win Rate50%33%42%42%50%44% 
Peers Win Rate50%25%52%78%53%22% 
S&P 500 Win Rate75%42%67%75%67%56% 

Max Drawdowns [4]
BILL Max Drawdown-32%-62%-59%-46%-61%-43% 
Peers Max Drawdown-27%-42%-17%-55%-62%-46% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: ADSK, HIT, BMR, HODO, PARA. See BILL 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 9/4/2026 (YTD)

How Low Can It Go

EventBILLS&P 500
2024 Yen Carry Trade Unwind
  % Loss-12.4%-7.8%
  % Gain to Breakeven14.1%8.5%
  Time to Breakeven13 days18 days
2023 SVB Regional Banking Crisis
  % Loss-27.6%-6.7%
  % Gain to Breakeven38.1%7.1%
  Time to Breakeven59 days31 days
2020 COVID-19 Crash
  % Loss-53.5%-33.7%
  % Gain to Breakeven114.9%50.9%
  Time to Breakeven49 days140 days

Compare to ADSK, HIT, BMR, HODO, PARA

In The Past

BILL's stock fell -12.4% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 14.1% 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.

EventBILLS&P 500
2023 SVB Regional Banking Crisis
  % Loss-27.6%-6.7%
  % Gain to Breakeven38.1%7.1%
  Time to Breakeven59 days31 days
2020 COVID-19 Crash
  % Loss-53.5%-33.7%
  % Gain to Breakeven114.9%50.9%
  Time to Breakeven49 days140 days

Compare to ADSK, HIT, BMR, HODO, PARA

In The Past

BILL's stock fell -12.4% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 14.1% 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 BILL (BILL)

Bill.com Holdings, Inc. (symbol: BILL) provides a cloud-based software platform designed to simplify, digitize, and automate critical back-office financial operations for small and midsize businesses globally. Leveraging artificial intelligence, the company's platform creates seamless connections among users, their suppliers, and clients, aiming to enhance efficiency and streamline financial workflows.

The company offers a suite of software-as-a-service (SaaS) products, including cloud-based payments and spend management solutions. These offerings enable users to automate accounts payable (AP) and accounts receivable (AR) transactions, eliminate manual expense reports, and effectively manage cash flows. The platform also facilitates direct connections between businesses and their suppliers or customers, fostering smoother financial interactions. Beyond the software, BILL provides comprehensive onboarding, implementation support, and ongoing training services.

BILL primarily serves small and midsize businesses (SMBs) across various industries worldwide, helping them modernize their financial processes. Additionally, the company extends its solutions to accounting firms and financial institutions, enabling them to better serve their own clients with advanced financial management tools.

AI Analysis | Feedback

Here are 1-3 brief analogies for BILL:

  • PayPal for business invoices and payments.
  • Workday for small and midsize business financial operations.

AI Analysis | Feedback

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  • Cloud-based Payments Products: These products automate accounts payable and accounts receivable transactions, enabling seamless connections among users, suppliers, and clients.
  • Spend Management Products: These products help businesses eliminate expense reports, manage cash flows, and improve overall office efficiency.
  • Onboarding Implementation Support: This service assists users with the initial setup and integration of their financial software platform.
  • Ongoing Support and Training Services: These services provide continuous assistance and educational resources to users for effective platform utilization.
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AI Analysis | Feedback

Bill.com Holdings, Inc. (BILL)

Bill.com Holdings, Inc. (BILL) primarily sells its cloud-based financial software and services to other companies, operating on a business-to-business (B2B) model. Due to the nature of its platform, which is designed to serve a broad and diverse market of small and midsize businesses, accounting firms, and financial institutions, the company does not typically have individually named "major customers" that represent a significant portion of its revenue and are publicly disclosed. Instead, Bill.com's customer base is composed of a large number of clients across specific categories.

The major categories of customers that Bill.com serves include:

  • Small and Midsize Businesses (SMBs): These businesses constitute the core of Bill.com's user base, leveraging the platform to automate and simplify their accounts payable and accounts receivable transactions, manage spend, eliminate expense reports, and improve overall back-office financial operations.
  • Accounting Firms: Bill.com partners with and provides solutions to a vast network of accounting firms. These firms utilize Bill.com's platform to streamline their clients' financial workflows, enhance efficiency, and offer more comprehensive services.
  • Financial Institutions: The company also engages with financial institutions, potentially through integrations, partnerships, or white-label solutions, to help them provide advanced payment and spend management tools to their own business clients.

AI Analysis | Feedback

Amazon.com, Inc. (AMZN)

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René Lacerte, CEO and Founder

René Lacerte is a fourth-generation entrepreneur who founded BILL in 2006. Prior to BILL, he founded PayCycle in 1999, an online payroll solution that Intuit acquired in 2009. Early in his career, he spent five years at Intuit, contributing to its bill payment and credit card businesses.

Rohini Jain, Chief Financial Officer

Rohini Jain joined BILL as Chief Financial Officer in June 2025. She brings over 20 years of experience in finance, product, and operations within global fintech, payments, and e-commerce companies. Before joining BILL, Ms. Jain served as CFO and SVP of PayPal's Large Enterprise and Merchant platforms and held senior finance leadership roles at eBay, Walmart, and General Electric.

John Rettig, President and Chief Operating Officer

John Rettig has been with BILL since 2014 and served as its CFO from 2014 to 2025, leading the company's IPO in 2019. He possesses over 25 years of strategic finance and operational leadership experience, helping technology companies scale. Prior to BILL, Mr. Rettig was the Chief Financial Officer of Exponential Interactive, Inc., and held senior finance roles at high-growth companies in e-commerce, software, and the Internet sectors, including Reflect.com (a Procter & Gamble personalized beauty spin-off), Achieva.com/Kaplan, Inc., and E-Global Network, Inc.

Sarah Acton, Chief Customer Officer

Sarah Acton brings over 30 years of experience in marketing, sales, and brand-building across both consumer and business markets. Before her role at BILL, she led marketing and sales at Athos, a wearables company. She also oversaw global brand at LinkedIn and held consumer marketing leadership at Yahoo!. An entrepreneur, Ms. Acton previously owned a small retail business.

Ken Moss, Chief Technology Officer

Ken Moss joined BILL as Chief Technology Officer in April 2023, bringing over 30 years of experience in leading global technology teams. Prior to BILL, he was the Chief Technology Officer for eight years at Electronic Arts, where he guided the company through a cloud-based transition and championed the use of data and AI. Mr. Moss also served as Vice President of Marketplaces Technology, Science and Data at eBay and was a General Manager, Director of Development, and Founder of Internet Search at Microsoft, where he oversaw the development of Bing and MSN Search.

AI Analysis | Feedback

The key risks to Bill.com Holdings, Inc. (BILL) primarily revolve around its susceptibility to macroeconomic fluctuations, intense market competition, and inherent operational and financial exposures from managing significant customer funds.

  1. Macroeconomic Conditions and Reliance on Small and Midsize Businesses (SMBs)

    Bill.com's business model is highly dependent on the financial health and spending patterns of small and midsize businesses (SMBs), its primary customer base. Economic downturns, such as those caused by inflation, high interest rates, or geopolitical conflicts, directly impact SMB spending. This can lead to reduced transaction volumes on Bill.com's platform, slower customer acquisition, and increased churn rates, thereby negatively affecting the company's revenue and growth trajectory.

  2. Intense Competition

    The market for financial operations platforms, particularly in B2B payments and spend management, is highly competitive and crowded. Bill.com faces significant competition from both established financial institutions and a growing number of fintech startups. This intense competitive landscape can necessitate increased investment in research and development, pressure pricing, and potentially erode Bill.com's market share and profitability if it fails to continually innovate and differentiate its offerings.

  3. Operational and Financial Risks from Managing Customer Funds and Credit Exposure

    Bill.com processes billions of dollars in customer funds annually, which introduces a substantial operational risk related to potential losses, errors, or fraudulent activities. Additionally, the company carries credit risk, particularly through its BILL Divvy Corporate Cards and invoice financing solutions. Effectively managing these large sums of money, maintaining robust security measures, and mitigating credit defaults are critical to the company's financial stability and reputation.

AI Analysis | Feedback

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AI Analysis | Feedback

Bill.com Holdings, Inc. (symbol: BILL) operates within substantial addressable markets for its cloud-based financial software and services, primarily targeting small and midsize businesses (SMBs).

According to Bill.com's Q4 2025 slides, the company identifies a significant market opportunity:

  • In the U.S. alone, the addressable market encompasses 34 million SMBs and sole proprietors. This represents an estimated $75 billion in software spend and $36 trillion in business-to-business (B2B) payment volume.
  • Globally, these figures expand to over 72 million SMBs, with a potential for $344 billion in software spend and $135 trillion in B2B payment volume.

More specifically, Bill.com has refined its approach to its total addressable market (TAM), identifying:

  • A core customer TAM of approximately 6 million businesses with employees in the U.S.
  • An expanded international TAM of roughly 35 million businesses with employees globally.
  • A newly recognized opportunity in the "Supplier TAM," as 30% of its core revenue is generated from suppliers.

Earlier estimates from June 2020 suggested an annual addressable market for the services Bill.com offered at that time to be $9 billion domestically and $30 billion globally. These estimates were derived by multiplying the average fiscal 2019 revenue per customer by the number of domestic employer firms (6 million) and global small and medium enterprises (20 million).

Beyond Bill.com's self-assessed market, the broader markets for its product categories also show significant size:

  • The global Spend Management Platforms for SMBs market was valued at $3.2 billion in 2024 and is projected to reach $10.5 billion by 2033, with North America holding the largest share (approximately 38% in 2024). Other reports indicate the global Business Spend Management (BSM) Software Market was valued at $22.6 billion in 2024, projected to reach $56.6 billion by 2033, with North America dominating.
  • The global SMB Software Market was valued at $68.31 billion in 2024 and is poised to grow to $124.53 billion by 2033.
  • The global Accounts Receivable Automation Market was valued at $3.0 billion in 2025 and is projected to reach $6.9 billion by 2034, with North America dominating the market. Another estimate placed the market at $4.48 billion in 2025, expected to reach $11.99 billion by 2033.
  • The global Accounts Payable Automation Market was valued at $6.17 billion in 2025, projected to reach $12.46 billion by 2031, with North America commanding a 37.10% revenue share in 2025.
  • The global Cloud-Based Financial Platform Market was valued at around $20.62 billion in 2023 and is projected to reach $54.03 billion by 2032. Another report estimated this market at $160.9 billion in 2024, projected to reach $405.1 billion by 2033.

AI Analysis | Feedback

Here are 3-5 expected drivers of future revenue growth for BILL (Bill.com Holdings, Inc.) over the next 2-3 years:

  1. Customer Acquisition and Deeper Platform Adoption: Bill.com expects continued revenue growth through acquiring new small and midsize business (SMB) customers and fostering deeper adoption of its platform by existing users. This includes increasing the number of businesses utilizing their solutions and expanding their network members, with a strategic focus on attracting higher-value SMB clients.
  2. Product Innovation and AI Integration: A significant driver of future revenue growth is Bill.com's continuous investment in product innovation, particularly through the integration and deployment of artificial intelligence (AI) tools. These AI-powered enhancements aim to automate financial operations, improve efficiency for customers, and drive the adoption of new features and solutions. New offerings, such as Supplier Payments Plus (SPP) and new cash account treasury capabilities, are also expected to contribute to growth.
  3. Expansion of Payment Capabilities and Transaction Volume, coupled with Pricing Optimization: Bill.com's core revenue heavily relies on transaction fees. Future growth will be driven by increased total payment volumes (TPV) and the adoption of various payment solutions, including card payments like the BILL Divvy card and invoice financing. The company is also actively evaluating and implementing strategic pricing opportunities to enhance revenue.
  4. Strategic Partnerships and Embedded Finance: Bill.com is focused on expanding its reach and market penetration through strategic partnerships, particularly with financial institutions and accounting software providers. Initiatives like "Embed 2.0 Partnerships" with companies such as NetSuite, Paychex, and Acumatica are designed to broaden Bill.com's distribution channels and access a larger base of businesses, thereby scaling transaction volumes.

AI Analysis | Feedback

Share Repurchases

  • On August 27, 2025, BILL's Board of Directors authorized a new share repurchase program for up to $300 million of its common stock.
  • In the second quarter of fiscal year 2026 (ended December 31, 2025), BILL repurchased approximately 2.5 million shares of its common stock for a total cost of approximately $133 million.

Share Issuance

  • For fiscal year 2026, stock-based compensation expenses are expected to be approximately $255 million.
  • Proceeds from the issuance of common stock under the employee stock purchase plan amounted to $5.302 million in fiscal year 2025.

Outbound Investments

  • BILL acquired Divvy for $2.5 billion in May 2021.
  • The company acquired Invoice2go for $625 million in July 2021.
  • BILL completed the acquisition of Finmark in November 2022 for an undisclosed amount.

Capital Expenditures

  • Information on specific dollar values for BILL's capital expenditures over the last 3-5 years is not available in the provided search results.
  • General tax law changes, such as the restoration of 100% bonus depreciation for qualified capital investments, effective mid-January 2025 onwards, encourage immediate capital outlays for businesses.

Better Bets vs. BILL (BILL)

Peer Outperformance in Application Software

BILL has trailed 76% of its 122 Application Software peers over 5Y. Application Software ranks 11th of 12 industries in Information Technology by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Application Software constituents that BILL has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
74%
of 153 industry peers · 5.3% return
3Y
26%
of 140 industry peers · -58.4% return
5Y
24%
of 122 industry peers · -83.5% return
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Median price return by industry across the Information Technology sector, ranked by 5Y. Application Software is BILL'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
Electronic Manufacturing Services 9 57.5%177.0%288.0% TTMI 806% · FLEX 677% · JBL 408%
Semiconductor Materials & Equipment 27 132.5%68.7%100.2% AEHR 928% · AXTI 528% · KLAC 470%
Technology Distributors 9 30.0%66.3%83.9% CLMB 351% · AVT 164% · SNX 119%
Communications Equipment 36 23.1%77.4%67.7% AAOI 1267% · LITE 890% · ANET 754%
Electronic Components 26 46.8%60.1%60.4% CLS 3241% · BELFA 1279% · COHR 358%
Semiconductors 55 34.4%21.2%18.4% POET 1845% · MU 1312% · NVDA 912%
Technology Hardware, Storage & Peripherals 21 34.8%71.0%16.9% DELL 1079% · STX 992% · SMCI 942%
Internet Services & Infrastructure 6 21.5%41.5%13.7% DOCN 53% · GDDY 35% · VRSN 35%
Electronic Equipment & Instruments 27 -6.3%9.4%-8.2% PI 197% · OSIS 108% · ACFN 98%
IT Consulting & Other Services 28 -21.7%-7.0%-28.6% CHRN 533058% · APLD 1150% · TSSI 665%
Application Software ← 123 -22.8%-14.6%-46.5% VIDA 199900% · INLX 4861% · PLTR 554%
Systems Software 68 -7.6%0.2%-57.6% PAYS 447% · QNC 392% · PANW 327%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Latest Trefis Analyses

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

BILLADSKHITBMRHODOPARAMedian
NameBILL Autodesk Health I.Beamr Im.House of.Banzai I. 
Mkt Price49.16217.900.981.240.211.011.12
Mkt Cap4.845.80.1---4.8
Rev LTM1,6537,79033-11133
Op Inc LTM172,175-5--29-19-5
FCF LTM3552,804-8--19-16-8
FCF 3Y Avg3071,907-2---11153
CFO LTM4162,896-5--13-16-5
CFO 3Y Avg3481,994-0---11174

Growth & Margins

BILLADSKHITBMRHODOPARAMedian
NameBILL Autodesk Health I.Beamr Im.House of.Banzai I. 
Rev Chg LTM13.0%17.9%23.0%--19.6%18.8%
Rev Chg 3Y Avg16.1%14.4%----15.2%
Rev Chg Q13.8%16.1%-13.5%---27.3%0.1%
QoQ Delta Rev Chg LTM3.3%3.8%-3.7%---7.4%-0.2%
Op Inc Chg LTM121.6%43.6%-497.0%---14.9%14.4%
Op Inc Chg 3Y Avg72.4%29.5%----50.9%
Op Mgn LTM1.1%27.9%-16.1%--3,271.8%-177.7%-16.1%
Op Mgn 3Y Avg-5.3%24.4%0.9%---213.5%-2.2%
QoQ Delta Op Mgn LTM4.0%0.9%-12.8%---9.3%-4.2%
CFO/Rev LTM25.2%37.2%-15.6%--1,456.5%-151.1%-15.6%
CFO/Rev 3Y Avg23.6%28.8%0.5%---115.9%12.1%
FCF/Rev LTM21.5%36.0%-23.3%--2,102.0%-151.1%-23.3%
FCF/Rev 3Y Avg20.9%27.5%-6.1%---115.9%7.4%

Valuation

BILLADSKHITBMRHODOPARAMedian
NameBILL Autodesk Health I.Beamr Im.House of.Banzai I. 
Mkt Cap4.845.80.1---4.8
P/S2.95.91.9---2.9
P/Op Inc275.821.0-11.7---21.0
P/EBIT517.321.0-11.3---21.0
P/E-428.227.9-15.6----15.6
P/CFO11.615.8-12.1---11.6
Total Yield-0.2%3.6%-6.4%----0.2%
Dividend Yield0.0%0.0%0.0%---0.0%
FCF Yield 3Y Avg7.0%3.9%----5.5%
D/E0.40.10.0---0.1
Net D/E-0.0-0.0-0.1----0.0

Returns

BILLADSKHITBMRHODOPARAMedian
NameBILL Autodesk Health I.Beamr Im.House of.Banzai I. 
1M Rtn1.7%-9.2%-15.5%-3.9%-65.5%-42.6%-12.4%
3M Rtn36.7%-5.2%-0.7%-28.3%-91.5%-42.6%-16.8%
6M Rtn9.1%-16.5%-47.3%-28.3%-91.5%-42.6%-35.5%
12M Rtn5.3%-31.9%-65.1%-54.1%-91.5%-42.6%-48.3%
3Y Rtn-58.4%-0.7%-80.8%-36.4%-91.5%-42.6%-50.5%
1M Excs Rtn4.5%-10.2%-12.6%-6.2%-62.4%-42.7%-11.4%
3M Excs Rtn32.1%-9.8%-5.2%-32.9%-96.1%-47.1%-21.3%
6M Excs Rtn-5.4%-31.0%-61.8%-42.8%-106.1%-57.1%-50.0%
12M Excs Rtn-13.4%-50.6%-83.8%-72.8%-110.2%-61.3%-67.1%
3Y Excs Rtn-128.2%-72.6%-151.7%-102.5%-162.5%-113.6%-120.9%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20262025202420232022
Single Segment1,6531,4631,2901,058642
Total1,6531,4631,2901,058642


Price Behavior

Price Behavior
Market Price$49.16 
Market Cap ($ Bil)4.8 
First Trading Date12/12/2019 
Distance from 52W High-12.7% 
   50 Days200 Days
DMA Price$45.29$43.83
DMA Trendindeterminateup
Distance from DMA8.5%12.2%
 3M1YR
Volatility48.6%62.6%
Downside Capture25.79177.03
Upside Capture163.99146.61
Correlation (SPY)18.4%31.3%
BILL Betas & Captures as of 8/31/2026

 1M2M3M6M1Y3Y
Beta2.040.460.670.741.481.56
Up Beta3.05-0.50-0.360.161.801.45
Down Beta0.58-0.990.730.461.011.66
Up Capture201%213%179%105%169%184%
Bmk +ve Days10213268138427
Stock +ve Days12253866127381
Down Capture99%18%36%107%138%111%
Bmk -ve Days11213259113324
Stock -ve Days9172661123365

[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 BILL
BILL5.3%62.6%0.30-
Sector ETF (XLK)43.4%26.2%1.3424.0%
Equity (SPY)19.7%12.8%1.1331.3%
Gold (GLD)24.6%29.2%0.757.7%
Commodities (DBC)44.1%20.4%1.69-7.6%
Real Estate (VNQ)9.1%13.6%0.3916.6%
Bitcoin (BTCUSD)-26.9%43.8%-0.5931.3%

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 BILL
BILL-29.9%69.6%-0.22-
Sector ETF (XLK)19.7%25.9%0.6846.5%
Equity (SPY)12.8%17.2%0.5750.4%
Gold (GLD)19.1%18.8%0.825.6%
Commodities (DBC)10.7%19.5%0.436.3%
Real Estate (VNQ)1.7%18.9%-0.0136.9%
Bitcoin (BTCUSD)10.6%52.6%0.3831.1%

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 BILL
BILL3.1%72.3%0.38-
Sector ETF (XLK)24.4%25.0%0.8845.1%
Equity (SPY)15.3%17.9%0.7244.9%
Gold (GLD)12.4%16.3%0.627.6%
Commodities (DBC)7.9%18.1%0.3511.7%
Real Estate (VNQ)4.8%20.7%0.1933.5%
Bitcoin (BTCUSD)64.0%66.2%1.0428.0%

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

Short Interest

Short Interest: As Of Date8142026
Short Interest: Shares Quantity10.6 Mil
Short Interest: % Change Since 73120263.0%
Average Daily Volume2.4 Mil
Days-to-Cover Short Interest4.4 days
Basic Shares Quantity97.9 Mil
Short % of Basic Shares10.8%

Earnings Returns History

Updated 8/28/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/19/2026-0.6%0.8% 
5/7/202611.1%4.9%-6.7%
2/5/202637.2%30.0%24.6%
11/6/20252.7%12.9%22.3%
8/27/202518.2%12.2%30.1%
5/8/2025-6.0%-1.6%-4.2%
2/6/2025-35.5%-36.8%-54.8%
11/7/202417.3%31.1%40.3%
...
SUMMARY STATS   
# Positive121510
# Negative12913
Median Positive17.7%12.4%20.2%
Median Negative-9.5%-15.0%-10.7%
Max Positive37.2%48.0%40.3%
Max Negative-35.5%-37.4%-54.8%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/19/2026-0.6%0.8% 
5/7/202611.1%4.9%-6.7%
2/5/202637.2%30.0%24.6%
11/6/20252.7%12.9%22.3%
8/27/202518.2%12.2%30.1%
5/8/2025-6.0%-1.6%-4.2%
2/6/2025-35.5%-36.8%-54.8%
11/7/202417.3%31.1%40.3%
8/22/2024-6.7%8.4%3.8%
5/2/2024-10.6%-8.9%-19.2%
2/8/2024-13.6%-14.1%-10.7%
11/2/2023-25.2%-37.4%-23.4%
8/17/20239.3%3.5%4.9%
2/2/2023-26.7%-24.2%-31.1%
11/3/2022-8.4%3.5%-4.9%
8/18/202216.7%18.7%-3.6%
5/5/2022-20.5%-34.3%-15.2%
2/3/202236.1%48.0%9.0%
11/4/202113.8%12.4%-20.8%
8/26/202129.6%31.2%23.7%
5/6/202118.3%2.7%18.2%
2/4/202132.0%33.1%-0.8%
11/5/2020-7.9%-13.6%17.2%
8/27/2020-5.4%-15.0%-8.0%
SUMMARY STATS   
# Positive121510
# Negative12913
Median Positive17.7%12.4%20.2%
Median Negative-9.5%-15.0%-10.7%
Max Positive37.2%48.0%40.3%
Max Negative-35.5%-37.4%-54.8%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/20/202610-K
03/31/202605/08/202610-Q
12/31/202502/06/202610-Q
09/30/202511/07/202510-Q
06/30/202508/28/202510-K
03/31/202505/09/202510-Q
12/31/202402/07/202510-Q
09/30/202411/08/202410-Q
06/30/202408/23/202410-K
03/31/202405/03/202410-Q
12/31/202302/09/202410-Q
09/30/202311/03/202310-Q
06/30/202308/29/202310-K
03/31/202305/15/202310-Q
12/31/202202/03/202310-Q
09/30/202211/04/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/20/202610-K
03/31/202605/08/202610-Q
12/31/202502/06/202610-Q
09/30/202511/07/202510-Q
06/30/202508/28/202510-K
03/31/202505/09/202510-Q
12/31/202402/07/202510-Q
09/30/202411/08/202410-Q
06/30/202408/23/202410-K
03/31/202405/03/202410-Q
12/31/202302/09/202410-Q
09/30/202311/03/202310-Q
06/30/202308/29/202310-K
03/31/202305/15/202310-Q
12/31/202202/03/202310-Q
09/30/202211/04/202210-Q
06/30/202208/22/202210-K
03/31/202205/06/202210-Q
12/31/202102/04/202210-Q
09/30/202111/08/202110-Q
06/30/202108/30/202110-K
03/31/202105/07/202110-Q
12/31/202002/05/202110-Q
09/30/202011/06/202010-Q
06/30/202008/31/202010-K
03/31/202005/08/202010-Q
12/31/201902/11/202010-Q
09/30/201912/12/2019424B4

Recent Forward Guidance

Updated 8/20/2026

Latest: Q4 2026 Earnings Reported 8/19/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q1 2027 Rewards expenseReported 92.50 Mil    
Q1 2027 Total RevenueReported432.50 Mil437.50 Mil442.50 Mil1.7% Higher NewActual: 430.00 Mil for Q4 2026
Q1 2027 Year-over-year total revenue growthReported9.0%10.5%12.0% -1.5%Lower NewActual: 12.0% for Q4 2026
Q1 2027 Core RevenueReported398.00 Mil403.00 Mil408.00 Mil1.5% Higher NewActual: 397.00 Mil for Q4 2026
Q1 2027 Year-over-year core revenue growthReported11.0%12.5%14.0% -2.0%Lower NewActual: 14.5% for Q4 2026
Q1 2027 Non-GAAP operating incomeReported112.50 Mil115.00 Mil117.50 Mil36.9% Higher NewActual: 84.00 Mil for Q4 2026
Q1 2027 Non-GAAP net incomeReported98.00 Mil100.00 Mil102.00 Mil25.0% Higher NewActual: 80.00 Mil for Q4 2026
Q1 2027 Non-GAAP net income per diluted shareReported0.960.98139.0% Higher NewActual: 0.7 for Q4 2026
2027 Rewards expenseReported 401.50 Mil    
2027 Total RevenueReported1.81 Bil1.83 Bil1.86 Bil11.2% Higher NewActual: 1.65 Bil for 2026
2027 Year-over-year total revenue growthReported9.0%10.5%12.0% -2.0%Lower NewActual: 12.5% for 2026
2027 Core RevenueReported1.67 Bil1.69 Bil1.72 Bil12.8% Higher NewActual: 1.50 Bil for 2026
2027 Year-over-year core revenue growthReported11.0%12.5%14.0% -3.0%Lower NewActual: 15.5% for 2026
2027 Non-GAAP operating incomeReported421.00 Mil436.00 Mil451.00 Mil42.4% Higher NewActual: 306.10 Mil for 2026
2027 Non-GAAP net incomeReported370.50 Mil382.50 Mil394.50 Mil27.2% Higher NewActual: 300.70 Mil for 2026
2027 Non-GAAP net income per diluted shareReported3.563.673.7940.0% Higher NewActual: 2.62 for 2026


Prior: Q3 2026 Earnings Reported 5/7/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q4 2026 Total RevenueReported425.00 Mil430.00 Mil435.00 Mil6.8% Higher NewGuidance: 402.50 Mil for Q3 2026
Q4 2026 Total Revenue GrowthReported11.0%12.0%13.0% -0.5%Lower NewGuidance: 12.5% for Q3 2026
Q4 2026 Core RevenueReported392.00 Mil397.00 Mil402.00 Mil7.4% Higher NewGuidance: 369.50 Mil for Q3 2026
Q4 2026 Core Revenue GrowthReported13.0%14.5%16.0% -1.0%Lower NewGuidance: 15.5% for Q3 2026
Q4 2026 Non-GAAP Operating IncomeReported81.50 Mil84.00 Mil86.50 Mil29.2% Higher NewGuidance: 65.00 Mil for Q3 2026
Q4 2026 Non-GAAP Net IncomeReported78.00 Mil80.00 Mil82.00 Mil28.0% Higher NewGuidance: 62.50 Mil for Q3 2026
Q4 2026 Non-GAAP Net Income per diluted shareReported0.690.70.7228.2% Higher NewGuidance: 0.55 for Q3 2026
2026 Total RevenueReported1.64 Bil1.65 Bil1.65 Bil0.4% RaisedGuidance: 1.64 Bil for 2026
2026 Total Revenue GrowthReported12.0%12.5%13.0% 0.0%AffirmedGuidance: 12.5% for 2026
2026 Core RevenueReported1.50 Bil1.50 Bil1.51 Bil0.1% RaisedGuidance: 1.50 Bil for 2026
2026 Core Revenue GrowthReported15.0%15.5%16.0% 0.0%AffirmedGuidance: 15.5% for 2026
2026 Non-GAAP Operating IncomeReported303.60 Mil306.10 Mil308.60 Mil9.2% RaisedGuidance: 280.25 Mil for 2026
2026 Non-GAAP Net IncomeReported298.70 Mil300.70 Mil302.70 Mil10.3% RaisedGuidance: 272.50 Mil for 2026
2026 Non-GAAP Net Income per diluted shareReported2.612.622.6410.8% RaisedGuidance: 2.37 for 2026

Q2 2026 Earnings Reported 2/5/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q3 2026 Total revenueReported397.50 Mil402.50 Mil407.50 Mil0.8% Higher NewGuidance: 399.50 Mil for Q2 2026
Q3 2026 Year-over-year total revenue growthReported11.0%12.5%14.0% 2.0%Higher NewGuidance: 10.5% for Q2 2026
Q3 2026 Core revenueReported364.50 Mil369.50 Mil374.50 Mil1.5% Higher NewGuidance: 364.00 Mil for Q2 2026
Q3 2026 Year-over-year core revenue growthReported14.0%15.5%17.0% 2.0%Higher NewGuidance: 13.5% for Q2 2026
Q3 2026 Non-GAAP operating incomeReported62.50 Mil65.00 Mil67.50 Mil0.0% Same NewGuidance: 65.00 Mil for Q2 2026
Q3 2026 Non-GAAP net incomeReported60.50 Mil62.50 Mil64.50 Mil-3.1% Lower NewGuidance: 64.50 Mil for Q2 2026
Q3 2026 Non-GAAP net income per diluted shareReported0.530.550.57-0.9% Lower NewGuidance: 0.56 for Q2 2026
2026 Total revenueReported1.63 Bil1.64 Bil1.65 Bil1.8% RaisedGuidance: 1.61 Bil for 2026
2026 Year-over-year total revenue growthReported12.0%12.5%13.0% 2.5%RaisedGuidance: 10.0% for 2026
2026 Core revenueReported1.49 Bil1.50 Bil1.51 Bil1.5% RaisedGuidance: 1.48 Bil for 2026
2026 Year-over-year core revenue growthReported15.0%15.5%16.0% 2.0%RaisedGuidance: 13.5% for 2026
2026 Non-GAAP operating incomeReported274.00 Mil280.25 Mil286.50 Mil5.2% RaisedGuidance: 266.50 Mil for 2026
2026 Non-GAAP net incomeReported267.50 Mil272.50 Mil277.50 Mil6.0% RaisedGuidance: 257.00 Mil for 2026
2026 Non-GAAP net income per diluted shareReported2.332.372.418.7% RaisedGuidance: 2.18 for 2026

Q1 2026 Earnings Reported 11/6/2025

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q2 2026 Total RevenueReported394.50 Mil399.50 Mil404.50 Mil2.4% Higher NewActual: 390.00 Mil for Q1 2026
Q2 2026 Total Revenue GrowthReported9.0%10.5%12.0% 2.0%Higher NewActual: 8.5% for Q1 2026
Q2 2026 Core RevenueReported359.00 Mil364.00 Mil369.00 Mil3.1% Higher NewActual: 353.00 Mil for Q1 2026
Q2 2026 Core Revenue GrowthReported12.0%13.5%15.0% 1.0%Higher NewActual: 12.5% for Q1 2026
Q2 2026 Non-GAAP Operating IncomeReported62.50 Mil65.00 Mil67.50 Mil16.1% Higher NewActual: 56.00 Mil for Q1 2026
Q2 2026 Non-GAAP Net IncomeReported62.50 Mil64.50 Mil66.50 Mil10.3% Higher NewActual: 58.50 Mil for Q1 2026
Q2 2026 Non-GAAP Net Income Per Diluted ShareReported0.540.560.579.9% Higher NewActual: 0.51 for Q1 2026
2026 Total RevenueReported1.60 Bil1.61 Bil1.63 Bil0.1% RaisedGuidance: 1.61 Bil for 2026
2026 Total Revenue GrowthReported9.0%10.0%11.0% 0.0%AffirmedGuidance: 10.0% for 2026
2026 Core RevenueReported1.46 Bil1.48 Bil1.49 Bil0.5% RaisedGuidance: 1.47 Bil for 2026
2026 Core Revenue GrowthReported12.0%13.5%15.0% 0.0%AffirmedGuidance: 13.5% for 2026
2026 Non-GAAP Operating IncomeReported256.50 Mil266.50 Mil276.50 Mil4.5% RaisedGuidance: 255.00 Mil for 2026
2026 Non-GAAP Net IncomeReported249.00 Mil257.00 Mil265.00 Mil3.6% RaisedGuidance: 248.00 Mil for 2026
2026 Non-GAAP Net Income Per Diluted ShareReported2.112.182.253.8% RaisedGuidance: 2.1 for 2026

Insider Activity

Updated 9/4/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Lacerte, Rene ACEOSee footnoteSell904202650.2726,8761,350,9288,199,513Form
2Lacerte, Rene ACEOSee foornoteSell904202650.0115,372768,8288,446,349Form
3Lacerte, Rene ACEODirectSell904202648.42141,256  Form
4Lacerte, Rene ACEOSee footnoteSell904202648.4273,7393,570,2522,946,393Form
5Jain, RohiniChief Financial OfficerDirectSell901202647.9133,470  Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Lacerte, Rene ACEOSee footnoteSell904202650.2726,8761,350,9288,199,513Form
2Lacerte, Rene ACEOSee foornoteSell904202650.0115,372768,8288,446,349Form
3Lacerte, Rene ACEODirectSell904202648.42141,256  Form
4Lacerte, Rene ACEOSee footnoteSell904202648.4273,7393,570,2522,946,393Form
5Jain, RohiniChief Financial OfficerDirectSell901202647.9133,470  Form
6Cieri, MichaelChief Product OfficerDirectSell901202649.1310,754528,38548,986Form
7Cieri, MichaelChief Product OfficerDirectSell601202636.6432,8751,204,66336,534Form
8Cota, GermaineSVP, FINANCE & ACCOUNTINGDirectSell1203202551.231,10456,558553,899Form
9Cota, GermaineSVP, FINANCE & ACCOUNTINGDirectSell904202545.221,72177,824456,044Form
10Aji, Rajesh ACLO & CCODirectSell904202545.223,971179,569420,456Form

Investor Activity (13F)

Updated Sep 5, 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
Starboard Value LP$269.1 Mil5.9%23Hold13F
Greenhouse Funds LLLP$122.2 Mil5.8%28ADD +8.7%13F
Senvest Management, LLC$146.9 Mil4.9%49ADD +49.0%13F
Light Street Capital Management, LLC$23.9 Mil4.8%23TRIM -28.8%13F
Opti Capital Management, LP$39.2 Mil2.8%36ADD +46.7%13F
Steelhead Partners LLC$29.9 Mil2.1%24TRIM -54.1%13F
Par Capital Management Inc$15.3 Mil0.4%45ADD +23.1%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Senvest Management, LLC$146.9 Mil4.9%49ADD +49.0%13F
Opti Capital Management, LP$39.2 Mil2.8%36ADD +46.7%13F
Par Capital Management Inc$15.3 Mil0.4%45ADD +23.1%13F
Greenhouse Funds LLLP$122.2 Mil5.8%28ADD +8.7%13F
Active ManagerValue% of PortfolioTotal PositionsQoQAs OfFiling
Elliott Investment Management L.P.$163.6 Mil1.1%21ExitedDec 31, 202513F
One Fin Capital Management LP$9.3 Mil3.2%18ExitedDec 31, 202513F
Steelhead Partners LLC$29.9 Mil2.1%24TRIM -54.1%Mar 31, 202613F
Light Street Capital Management, LLC$23.9 Mil4.8%23TRIM -28.8%Mar 31, 202613F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Starboard Value LP$269.1 Mil5.9%23Hold13F
Senvest Management, LLC$146.9 Mil4.9%49ADD +49.0%13F
Greenhouse Funds LLLP$122.2 Mil5.8%28ADD +8.7%13F
Opti Capital Management, LP$39.2 Mil2.8%36ADD +46.7%13F
Steelhead Partners LLC$29.9 Mil2.1%24TRIM -54.1%13F
Light Street Capital Management, LLC$23.9 Mil4.8%23TRIM -28.8%13F
Par Capital Management Inc$15.3 Mil0.4%45ADD +23.1%13F
Core Cache Last Updated: 9/4/2026