CoreWeave (CRWV)


Market Price (10/1/2026): $88.6 | Market Cap: $48.8 BilSector: Information Technology | Industry: Systems Software

CoreWeave (CRWV)


Market Price (10/1/2026): $88.6
Market Cap: $48.8 Bil
Sector: Information Technology
Industry: Systems Software

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

0

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 115%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 91%, CFO LTM is 6.9 Bil

Megatrend and thematic drivers
Megatrends include Artificial Intelligence, and Cloud Computing. Themes include Data Centers & Infrastructure, and Infrastructure as a Service (IaaS).

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -231 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -3.0%

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 96%

Not cash flow generative
FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -180%

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 -7.9%

Key risks
CRWV key risks include [1] a precarious financial position due to high leverage and capital-intensive expansion, Show more.

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 115%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 91%, CFO LTM is 6.9 Bil
2 Megatrend and thematic drivers
Megatrends include Artificial Intelligence, and Cloud Computing. Themes include Data Centers & Infrastructure, and Infrastructure as a Service (IaaS).
3 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -231 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -3.0%
4 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 96%
5 Not cash flow generative
FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -180%
6 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 -7.9%
7 Key risks
CRWV key risks include [1] a precarious financial position due to high leverage and capital-intensive expansion, Show more.

CRWV in ETFs

Weight = CRWV's share of each fund

VTI0.04%
ITOT0.04%
QQQ0.16%
QQQM0.17%
IWB0.04%
VUG0.10%
VO0.31%
ARKW3.9%
+20 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 9/30/2026

CoreWeave (CRWV) stock has lost about 10% since 6/30/2026 because of the following key factors:

1. Escalating Interest Expenses and High Capital Expenditures. CoreWeave's significant infrastructure expansion, largely funded by debt, led to a sharp increase in interest expenses. In fiscal Q2 2026, interest expense reached $640 million, a substantial rise from $267 million year-over-year, overshadowing the $128 million in adjusted operating income. For fiscal Q3 2026, interest expense was projected to be even higher, between $860 million and $940 million. The company also raised its full-year fiscal 2026 capital expenditure guidance to $35 billion-$39 billion, up from an earlier guidance of $30 billion-$35 billion. This heavy debt load and high CapEx commitment created concerns about profitability, despite strong revenue growth.

2. Potential Share Dilution from At-the-Market Offering. On September 17, 2026, CoreWeave announced an at-the-market (ATM) offering program, allowing the company to sell up to 35 million shares of its Class A common stock. Such an offering can lead to a dilution of existing shareholder value, which often puts downward pressure on the stock price.

Show more
Updated on 9/30/2026

CoreWeave (CRWV) stock has lost about 10% since 6/30/2026 because of the following key factors:

1. Escalating Interest Expenses and High Capital Expenditures. CoreWeave's significant infrastructure expansion, largely funded by debt, led to a sharp increase in interest expenses. In fiscal Q2 2026, interest expense reached $640 million, a substantial rise from $267 million year-over-year, overshadowing the $128 million in adjusted operating income. For fiscal Q3 2026, interest expense was projected to be even higher, between $860 million and $940 million. The company also raised its full-year fiscal 2026 capital expenditure guidance to $35 billion-$39 billion, up from an earlier guidance of $30 billion-$35 billion. This heavy debt load and high CapEx commitment created concerns about profitability, despite strong revenue growth.

2. Potential Share Dilution from At-the-Market Offering. On September 17, 2026, CoreWeave announced an at-the-market (ATM) offering program, allowing the company to sell up to 35 million shares of its Class A common stock. Such an offering can lead to a dilution of existing shareholder value, which often puts downward pressure on the stock price.

3. Significant Insider Selling by CEO. CoreWeave's CEO, Michael N. Intrator, sold 307,692 Class A shares on September 22, 2026. These transactions occurred at weighted-average prices ranging from $85.5705 to $88.9469 per share, totaling over $26 million. Large insider sales can be interpreted by the market as a lack of confidence in the company's near-term prospects, contributing to negative sentiment.

4. Analyst Rating Downgrades. During the period, some analyst firms adjusted their ratings and price targets for CoreWeave. Raymond James Financial, for instance, downgraded CoreWeave's stock from a "moderate buy" to a "hold" rating on July 22, 2026. Additionally, Sanford C. Bernstein issued an "underperform" rating for the company on August 12, 2026, setting a price target of $74.00. These downgrades likely contributed to the stock's decline by influencing investor perception.

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Stock Movement Drivers

Fundamental Drivers

The -12.5% change in CRWV stock from 6/30/2026 to 9/30/2026 was primarily driven by a -24.9% change in the company's P/S Multiple.
(LTM values as of)63020269302026Change
Stock Price ($)99.5487.12-12.5%
Change Contribution By: 
Total Revenues ($ Mil)6,2277,59021.9%
P/S Multiple8.46.3-24.9%
Shares Outstanding (Mil)527551-4.4%
Cumulative Contribution-12.5%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 9/30/2026
ReturnCorrelation
CRWV-12.5% 
Market (SPY)2.1%46.5%
Sector (XLK)2.7%69.9%

Fundamental Drivers

The 12.5% change in CRWV stock from 3/31/2026 to 9/30/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)33120269302026Change
Stock Price ($)77.4787.1212.5%
Change Contribution By: 
Total Revenues ($ Mil)�7,5900.0%
P/S Multiple�6.30.0%
Shares Outstanding (Mil)404551-26.7%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 9/30/2026
ReturnCorrelation
CRWV12.5% 
Market (SPY)17.6%41.5%
Sector (XLK)47.5%55.1%

Fundamental Drivers

The -36.3% change in CRWV stock from 9/30/2025 to 9/30/2026 was primarily driven by a -26.7% change in the company's Shares Outstanding (Mil).
(LTM values as of)93020259302026Change
Stock Price ($)136.8587.12-36.3%
Change Contribution By: 
Total Revenues ($ Mil)�7,5900.0%
P/S Multiple�6.30.0%
Shares Outstanding (Mil)404551-26.7%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 9/30/2026
ReturnCorrelation
CRWV-36.3% 
Market (SPY)15.4%44.9%
Sector (XLK)39.4%57.5%

Fundamental Drivers

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Market Drivers

9/30/2023 to 9/30/2026
ReturnCorrelation
CRWV  
Market (SPY)84.5%38.6%
Sector (XLK)143.1%47.8%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
CRWV Return----79%20%115%
Peers Return57%-34%93%65%29%3%335%
S&P 500 Return27%-19%24%23%16%12%104%

Monthly Win Rates [3]
CRWV Win Rate----40%44% 
Peers Win Rate65%30%70%67%55%49% 
S&P 500 Win Rate75%42%67%75%67%44% 

Max Drawdowns [4]
CRWV Max Drawdown------56% 
Peers Max Drawdown-14%-45%-18%-20%-33%-28% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: AMZN, MSFT, GOOGL, NVDA, ORCL.
[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 9/30/2026 (YTD)

How Low Can It Go

CRWV has limited trading history. Below is the Information Technology sector ETF (XLK) in its place.

EventXLKS&P 500
2025 US Tariff Shock
  % Loss-25.7%-18.8%
  % Gain to Breakeven34.5%23.1%
  Time to Breakeven65 days79 days
2024 Yen Carry Trade Unwind
  % Loss-17.0%-7.8%
  % Gain to Breakeven20.4%8.5%
  Time to Breakeven92 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-10.0%-9.5%
  % Gain to Breakeven11.2%10.5%
  Time to Breakeven15 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-33.1%-24.5%
  % Gain to Breakeven49.5%32.4%
  Time to Breakeven246 days427 days
2020 COVID-19 Crash
  % Loss-31.2%-33.7%
  % Gain to Breakeven45.2%50.9%
  Time to Breakeven78 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-23.8%-19.2%
  % Gain to Breakeven31.2%23.8%
  Time to Breakeven100 days105 days

Compare to AMZN, MSFT, GOOGL, NVDA, ORCL

In The Past

State Street Technology Select Sector SPDR ETF's stock fell -25.7% during the 2025 US Tariff Shock. Such a loss loss requires a 34.5% 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.

CRWV has limited trading history. Below is the Information Technology sector ETF (XLK) in its place.

EventXLKS&P 500
2025 US Tariff Shock
  % Loss-25.7%-18.8%
  % Gain to Breakeven34.5%23.1%
  Time to Breakeven65 days79 days
2022 Inflation Shock & Fed Tightening
  % Loss-33.1%-24.5%
  % Gain to Breakeven49.5%32.4%
  Time to Breakeven246 days427 days
2020 COVID-19 Crash
  % Loss-31.2%-33.7%
  % Gain to Breakeven45.2%50.9%
  Time to Breakeven78 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-23.8%-19.2%
  % Gain to Breakeven31.2%23.8%
  Time to Breakeven100 days105 days
2008-2009 Global Financial Crisis
  % Loss-51.5%-53.4%
  % Gain to Breakeven106.2%114.4%
  Time to Breakeven797 days1085 days

Compare to AMZN, MSFT, GOOGL, NVDA, ORCL

In The Past

State Street Technology Select Sector SPDR ETF's stock fell -25.7% during the 2025 US Tariff Shock. Such a loss loss requires a 34.5% 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 CoreWeave (CRWV)

CoreWeave is an "AI Hyperscaler" that provides a purpose-built cloud platform designed specifically for the demanding computational needs of artificial intelligence (AI) workloads. Unlike general-purpose cloud providers, CoreWeave's platform and proprietary software are optimized to manage complex AI infrastructure at scale, delivering significantly higher performance, efficiency, and uptime for critical AI tasks such as model training and inference. This specialization helps customers accelerate their AI development and deployment by providing more compute cycles and reducing time to solution in the hyper-competitive AI race.

The CoreWeave Cloud Platform offers a comprehensive suite of integrated cloud services, including Infrastructure Services, Managed Software Services, and Application Software Services, all supported by advanced orchestration, automation, and monitoring capabilities. These services provide state-of-the-art compute, networking, and storage, powered by supercomputers in a distributed network of purpose-built data centers containing over 250,000 GPUs. CoreWeave benefits from robust collaborations with leading chipmakers like NVIDIA and offers access to its platform through both large, multi-year committed contracts and on-demand, pay-as-you-go models.

CoreWeave primarily serves the world's leading AI labs and AI enterprises—the builders and integrators of AI—who depend on its platform for their core products and most promising innovations. Its customer base includes prominent names such as OpenAI, Microsoft, Meta, IBM, and NVIDIA. The company's ability to abstract away the complexities of managing high-performance AI infrastructure establishes it as a critical partner, leading to long-term, durable relationships and expanding commitments within the rapidly growing global market for AI infrastructure and cloud services, projected to reach approximately $399 billion by 2028.

AI Analysis | Feedback

CoreWeave is like:

  • AWS or Microsoft Azure, but purpose-built and highly optimized solely for AI workloads.
  • A specialized, AI-dedicated version of a major cloud provider, such as Google Cloud, focused on delivering high-performance computing power for artificial intelligence.

AI Analysis | Feedback

* **AI Cloud Platform:** A comprehensive, purpose-built cloud platform offering integrated infrastructure and software services optimized for AI development, training, and inference. * **AI Infrastructure Services:** Provides state-of-the-art compute (GPUs), networking, and storage specifically engineered for high-performance AI workloads. * **AI Managed Software Services:** Offers tools for orchestrating, automating, and managing complex AI workloads and environments. * **AI Application Software Services:** Supports the deployment and delivery of advanced AI models and applications for various use cases. * **Mission Control and Observability Software:** Integrated monitoring and management tools that ensure optimal performance and reliability for AI training and inference.

AI Analysis | Feedback

CoreWeave (CRWV) sells primarily to other companies. Its major customers include:
  • Microsoft Corporation (Symbol: MSFT)
  • OpenAI OpCo, LLC
  • Cohere Inc.
  • International Business Machines Corporation (Symbol: IBM)
  • Meta Platforms, Inc. (Symbol: META)
  • Mistral AI SAS
  • NVIDIA Corporation (Symbol: NVDA)

AI Analysis | Feedback

NVIDIA Corporation (NVDA)

AI Analysis | Feedback

Michael Intrator, Chief Executive Officer, Chairman of the Board, and Co-founder

Michael Intrator is a co-founder of CoreWeave, established in 2017. He has served as the company's CEO and President since September 2017, and as Chairman of the board of directors. Prior to CoreWeave, he co-founded and was the Chief Executive Officer of Hudson Ridge Asset Management LLC, a natural gas hedge fund, from January 2013 to January 2018. He also held roles of increasing responsibility, including Principal Portfolio Manager, at Natsource Asset Management LLC, an asset management and advisory firm, from September 1998 to July 2014.

Nitin Agrawal, Chief Financial Officer

Nitin Agrawal joined CoreWeave as Chief Financial Officer in March 2024. Before his tenure at CoreWeave, he served as Vice President, Finance of Google Cloud, a segment of Alphabet Inc., from May 2021 to March 2024. His experience also includes serving as Chief Financial Officer of Mapbox, Inc. from August 2019 to April 2021, and as Finance Director of the Compute Services division at Amazon Web Services, Inc. from January 2015 to July 2019. Mr. Agrawal also held leadership roles at Microsoft.

Brannin McBee, Chief Development Officer, Co-founder

Brannin McBee is a co-founder of CoreWeave. He served as Chief Strategy Officer from September 2017 until March 2024, when he transitioned to Chief Development Officer. His previous experience includes working as a Proprietary Trader at Active Power Investments and Windy Bay Power LLC, a commodity-focused hedge fund. He was also a Vice President at Fourth Floor Coastal LLC, an exploration and production company in the oil and gas industry.

Brian Venturo, Chief Strategy Officer, Co-founder

Brian Venturo is a co-founder of CoreWeave. He served as Chief Technology Officer from October 2017 to March 2024, at which point he was appointed Chief Strategy Officer. Previously, from January 2013 to January 2018, Mr. Venturo was a Partner at Hudson Ridge Asset Management LLC, a natural gas hedge fund. He also worked as Portfolio Manager – Energy and Emissions for Natsource Asset Management LLC.

Sachin Jain, Chief Operating Officer

Sachin Jain assumed the role of Chief Operating Officer at CoreWeave in August 2024. Prior to CoreWeave, he served as Senior Vice President at Oracle Cloud from May 2024 to August 2024, where he was responsible for AI infrastructure, data center capacity, and infrastructure product teams. Before that, he was Vice President at Google Cloud from June 2020 to May 2024. Mr. Jain brings over two decades of experience in senior leadership positions at Google Cloud and Amazon.

AI Analysis | Feedback

The key risks to CoreWeave's business include:

  1. Customer Concentration Risk: CoreWeave relies heavily on a few large customers for a significant portion of its revenue. Microsoft has been its largest customer, and with the recently signed Master Services Agreement with OpenAI, these two entities will collectively account for a substantial part of CoreWeave's future committed contract revenues. A loss or significant reduction in business from one or both of these key customers could materially impact the company's financial performance.
  2. Technological Obsolescence and Intense Competition: CoreWeave operates in the rapidly evolving and "hyper-competitive" artificial intelligence (AI) industry, where the demand for specialized cloud infrastructure is constantly changing. The risk exists that CoreWeave's purpose-built AI cloud platform, or the underlying technology it uses, could become obsolete or less competitive if new technologies emerge or if larger, more diversified cloud providers develop equally or more advanced AI-specific offerings, challenging CoreWeave's specialized niche and competitive advantage.
  3. Reliance on Debt Financing for Expansion: CoreWeave employs a "sophisticated financing strategy" heavily reliant on asset-backed debt, having raised $12.9 billion in debt commitments to fund its rapid expansion of compute capacity. This significant reliance on debt for infrastructure development exposes the company to financial risks, including potential difficulties in servicing the debt if market conditions change, demand for its services slows, or if the costs of financing increase.

AI Analysis | Feedback

The primary emerging threat to CoreWeave stems from the potential for established, "generalized cloud infrastructure" providers (such as Amazon Web Services, Google Cloud Platform, and Microsoft Azure, despite Microsoft being a customer) to rapidly enhance and optimize their AI offerings. CoreWeave explicitly states that these generalized platforms were "built to host websites, databases, and SaaS apps that have fundamentally different needs than the high performance requirements of AI." CoreWeave's core competitive advantage is its "purpose-built AI cloud platform" which delivers "substantially higher total system performance and more favorable uptime relative to other AI offerings within existing infrastructure cloud environments." The emerging threat is that these major cloud hyperscalers, with their immense resources and existing customer bases, will significantly improve their AI-specific infrastructure and services to match or even surpass CoreWeave's performance and efficiency advantages, thereby eroding CoreWeave's key differentiation and "first-to-market track record with highly performant technology" in the rapidly evolving AI cloud market.

AI Analysis | Feedback

CoreWeave operates in a significant and rapidly expanding market. Total global spending on AI inference/fine-tuning, AI workload monitoring, and training infrastructure, which includes AI servers, AI storage, training compute, cloud workloads, and networking, is projected to reach approximately $399 billion by 2028.

AI Analysis | Feedback

Expected Drivers of Future Revenue Growth for CoreWeave (CRWV)

CoreWeave (CRWV) is positioned for significant revenue growth over the next 2-3 years, driven by several key factors stemming from its specialized focus on AI cloud infrastructure. The primary drivers include:
  • Explosive Growth in the Overall AI Market and Demand for Purpose-Built AI Infrastructure: CoreWeave anticipates benefiting from the massive expansion of the AI market, with projections indicating a cumulative global economic impact of $20 trillion by 2030 and total spending on AI infrastructure reaching approximately $399 billion by 2028. The company is strategically positioned as an "AI Hyperscaler" with a purpose-built platform to meet the high-performance demands of AI workloads, which differ significantly from general cloud infrastructure needs.
  • Significant Expansion of Data Center Footprint and GPU Capacity: CoreWeave has a robust plan to scale its physical infrastructure. As of December 31, 2024, the company had 32 data centers running over 250,000 GPUs and 360 MW of active power. More importantly, its total contracted power extends to approximately 1.3 GW, which it expects to roll out over the coming years, enabling a substantial increase in its compute capacity to meet growing customer demand.
  • Deepening and Expansion of Relationships with Leading AI Labs and Enterprises: CoreWeave fosters long-term, durable relationships with major AI industry players, including Microsoft and OpenAI. The company has a proven track record of existing customers expanding their commitments; for instance, three of its top five committed contract customers significantly increased their spend by approximately $7.8 billion within 12 months of their initial agreements. A recently signed Master Services Agreement with OpenAI is expected to generate up to an additional $11.55 billion in future revenue, further solidifying growth from key customer partnerships.
  • Growth in Remaining Performance Obligations (RPO) from Multi-Year Committed Contracts: CoreWeave's revenue model is heavily reliant on multi-year committed contracts, which provide predictable future income. The company reported a substantial increase in its remaining performance obligations (RPO) by 53%, from $9.9 billion as of December 31, 2023, to $15.1 billion as of December 31, 2024. This growing backlog of committed contracts, combined with new agreements, directly translates into secured future revenue streams.

AI Analysis | Feedback

Share Issuance

  • CoreWeave launched its Initial Public Offering (IPO) on March 28, 2025, raising approximately $1.5 billion by issuing 37.5 million Class A shares at $40.00 per share.
  • NVIDIA invested $2 billion in CoreWeave Class A common stock at a price of $87.20 per share in January 2026.
  • OpenAI agreed to invest $350 million in CoreWeave through the purchase of company stock as part of a larger $11.9 billion infrastructure deal.

Inbound Investments

  • CoreWeave raised over $18 billion in debt and equity from more than 200 investment partners and financial institutions during 2025, with total debt reaching $21.4 billion by year-end 2025.
  • The company's financing activities in 2025 included a $2 billion high-yield debt offering (upsized by $500 million), a separate $1.75 billion issuance, and a $2.6 billion delayed draw term loan facility.
  • Through December 31, 2024, CoreWeave had raised total commitments of $12.9 billion in asset-backed debt to support the development of its platform.

Outbound Investments

  • In September 2025, CoreWeave launched CoreWeave Ventures, a corporate venture capital arm, to invest in early-stage artificial intelligence and computing technology companies.
  • The company has made 7 investments across sectors such as Artificial Intelligence and AI Infrastructure, with notable investments including NinetyFive, Salt AI, Chai Research, Wombo, and Moonvalley.
  • CoreWeave acquired OpenPipe, a startup focused on building reinforcement-learning tools for AI agents, in September 2025.

Capital Expenditures

  • CoreWeave's capital expenditures were approximately $14.9 billion in fiscal 2025.
  • The company has budgeted significantly higher capital expenditures of $30 billion to $35 billion for 2026, more than double 2025 levels.
  • These expenditures are primarily focused on accelerating data center buildouts, purchasing AI chips (such as NVIDIA GPUs), and expanding power capacity to meet the relentless demand for AI computing.

Peer Outperformance in Systems Software

null
Share of Systems Software constituents that CRWV has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
35%
of 89 industry peers · -36.3% return
3Y
—
insufficient peer history
5Y
—
insufficient peer history
null
Median price return by industry across the Information Technology sector, ranked by 5Y. Systems Software is CRWV'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 63.9%180.7%305.5% TTMI 870% · FLEX 722% · SANM 449%
Semiconductor Materials & Equipment 28 106.8%103.7%125.8% AXTI 835% · AEHR 691% · KLAC 511%
Technology Distributors 9 37.8%81.3%97.4% CLMB 416% · AVT 199% · SNX 158%
Communications Equipment 36 9.1%76.4%70.3% AAOI 1281% · LITE 1038% · FEIM 935%
Electronic Components 26 41.1%72.7%67.7% CLS 3807% · BELFA 1339% · LPTH 386%
Technology Hardware, Storage & Peripherals 20 22.4%128.6%35.6% STX 1159% · DELL 1011% · SMCI 1000%
Semiconductors 55 29.8%46.2%35.0% POET 1736% · MU 1436% · NVDA 1006%
Internet Services & Infrastructure 6 -4.5%37.5%18.0% DOCN 65% · VRSN 39% · GDDY 33%
Electronic Equipment & Instruments 26 -22.0%19.5%-6.7% PI 220% · KEYS 120% · VPG 106%
IT Consulting & Other Services 28 -23.2%-10.3%-19.9% CHRN 519111% · APLD 1020% · TSSI 785%
Application Software 125 -30.1%-18.8%-47.2% VIDA 136567% · INLX 5104% · PLTR 669%
Systems Software ← 70 -16.6%21.3%-51.9% QNC 551% · PAYS 418% · ZETA 412%
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

CRWVAMZNMSFTGOOGLNVDAORCLMedian
NameCoreWeaveAmazon.c.MicrosoftAlphabet NVIDIA Oracle  
Mkt Price88.48248.86515.06339.09231.48138.59240.17
Mkt Cap48.82,680.03,824.84,120.35,599.5-3,824.8
Rev LTM7,590775,680331,839445,867302,969-331,839
Op Inc LTM-23193,712155,237147,628197,579-147,628
FCF LTM-13,655-11,62566,98753,273127,006-53,273
FCF 3Y Avg-16,73270,89060,26381,938-65,576
CFO LTM6,911161,403182,935185,675134,360-161,403
CFO 3Y Avg-130,164145,882141,48186,686-135,822

Growth & Margins

CRWVAMZNMSFTGOOGLNVDAORCLMedian
NameCoreWeaveAmazon.c.MicrosoftAlphabet NVIDIA Oracle  
Rev Chg LTM115.3%15.8%17.8%20.1%83.4%-20.1%
Rev Chg 3Y Avg-13.0%16.1%15.5%116.5%-15.8%
Rev Chg Q112.5%19.6%17.7%24.2%105.9%-24.2%
QoQ Delta Rev Chg LTM21.9%4.4%4.3%5.5%19.5%-5.5%
Op Inc Chg LTM-204.2%23.0%20.8%21.6%105.9%-21.6%
Op Inc Chg 3Y Avg-90.0%20.6%25.6%206.3%-57.8%
Op Mgn LTM-3.0%12.1%46.8%33.1%65.2%-33.1%
Op Mgn 3Y Avg-10.8%45.7%31.9%61.7%-38.8%
QoQ Delta Op Mgn LTM-0.4%0.6%-0.0%0.4%1.2%-0.4%
CFO/Rev LTM91.1%20.8%55.1%41.6%44.3%-44.3%
CFO/Rev 3Y Avg-18.9%50.6%36.5%47.2%-41.9%
FCF/Rev LTM-179.9%-1.5%20.2%11.9%41.9%-11.9%
FCF/Rev 3Y Avg-2.8%25.3%16.1%44.7%-20.7%

Valuation

CRWVAMZNMSFTGOOGLNVDAORCLMedian
NameCoreWeaveAmazon.c.MicrosoftAlphabet NVIDIA Oracle  
Mkt Cap48.82,680.03,824.84,120.35,599.5-3,824.8
P/S6.43.511.59.218.5-9.2
P/Op Inc-211.328.624.627.928.3-27.9
P/EBIT-985.715.022.613.724.3-15.0
P/E-25.319.828.616.929.0-19.8
P/CFO7.116.620.922.241.7-20.9
Total Yield-4.0%5.0%4.2%6.1%3.6%-4.2%
Dividend Yield0.0%0.0%0.7%0.2%0.1%-0.1%
FCF Yield 3Y Avg-0.8%2.2%2.4%2.0%-2.1%
D/E1.10.10.00.00.0-0.0
Net D/E0.90.0-0.0-0.0-0.0--0.0

Returns

CRWVAMZNMSFTGOOGLNVDAORCLMedian
NameCoreWeaveAmazon.c.MicrosoftAlphabet NVIDIA Oracle  
1M Rtn4.2%-4.2%1.5%-0.0%5.0%-7.1%0.8%
3M Rtn3.3%3.0%34.3%-6.1%17.3%-2.4%3.1%
6M Rtn12.8%18.2%40.0%14.2%32.0%-3.9%16.2%
12M Rtn-35.3%13.3%0.3%39.8%24.4%-50.2%6.8%
3Y Rtn121.2%95.8%66.9%161.6%433.7%35.5%108.5%
1M Excs Rtn4.7%-3.8%2.0%0.4%5.4%-6.6%1.2%
3M Excs Rtn1.0%0.7%32.0%-8.3%15.0%-4.7%0.8%
6M Excs Rtn-3.3%2.3%22.4%1.1%15.6%-22.5%1.7%
12M Excs Rtn-42.9%-2.8%-14.0%24.7%12.5%-65.4%-8.4%
3Y Excs Rtn43.6%13.3%-10.7%85.8%372.4%-44.6%28.4%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil2025202420232022
Single Segment5,1311,91522916
Total5,1311,91522916


Price Behavior

Price Behavior
Market Price$87.12 
Market Cap ($ Bil)48.0 
First Trading Date03/28/2025 
Distance from 52W High-39.1% 
   50 Days200 Days
DMA Price$86.41$97.88
DMA Trendindeterminatedown
Distance from DMA0.8%-11.0%
 3M1YR
Volatility101.1%94.6%
Downside Capture279.98390.37
Upside Capture257.30276.48
Correlation (SPY)46.6%44.9%
CRWV Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta0.983.644.413.103.280.09
Up Beta5.324.098.723.343.56-0.02
Down Beta6.314.323.823.112.670.14
Up Capture16%436%298%391%788%493%
Bmk +ve Days6162766132424
Stock +ve Days12192559117181
Down Capture-41%232%302%252%184%110%
Bmk -ve Days16263760120328
Stock -ve Days10233967135196

[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 CRWV
CRWV-29.0%94.9%0.06-
Sector ETF (XLK)40.4%26.5%1.2557.2%
Equity (SPY)15.9%13.0%0.8744.9%
Gold (GLD)8.1%29.6%0.2620.2%
Commodities (DBC)43.1%20.8%1.61-0.2%
Real Estate (VNQ)2.2%13.6%-0.09-5.8%
Bitcoin (BTCUSD)-27.1%44.5%-0.5834.1%

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 CRWV
CRWV15.7%111.4%0.93-
Sector ETF (XLK)21.3%25.9%0.7347.9%
Equity (SPY)13.2%17.2%0.5938.8%
Gold (GLD)18.2%18.9%0.7810.0%
Commodities (DBC)10.6%19.6%0.426.8%
Real Estate (VNQ)0.5%18.9%-0.086.8%
Bitcoin (BTCUSD)13.9%52.3%0.4429.4%

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 CRWV
CRWV7.5%111.4%0.93-
Sector ETF (XLK)24.9%25.0%0.9047.9%
Equity (SPY)15.4%17.9%0.7338.8%
Gold (GLD)11.8%16.4%0.5810.0%
Commodities (DBC)8.4%18.1%0.386.8%
Real Estate (VNQ)4.5%20.7%0.186.8%
Bitcoin (BTCUSD)63.6%66.2%1.0329.4%

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

Short Interest

Short Interest: As Of Date9152026
Short Interest: Shares Quantity54.9 Mil
Short Interest: % Change Since 8312026-1.1%
Average Daily Volume22.6 Mil
Days-to-Cover Short Interest2.4 days
Basic Shares Quantity551.0 Mil
Short % of Basic Shares10.0%

Earnings Returns History

Updated 9/14/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/11/202619.3%3.2%-1.3%
5/7/2026-11.4%-11.4%-20.5%
2/26/2026-18.5%-23.4%-23.4%
11/10/2025-16.3%-28.7%-17.3%
8/12/2025-20.8%-37.6%-24.2%
5/14/2025-2.5%59.2%118.2%
SUMMARY STATS   
# Positive121
# Negative545
Median Positive19.3%31.2%118.2%
Median Negative-16.3%-26.0%-20.5%
Max Positive19.3%59.2%118.2%
Max Negative-20.8%-37.6%-24.2%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/11/202619.3%3.2%-1.3%
5/7/2026-11.4%-11.4%-20.5%
2/26/2026-18.5%-23.4%-23.4%
11/10/2025-16.3%-28.7%-17.3%
8/12/2025-20.8%-37.6%-24.2%
5/14/2025-2.5%59.2%118.2%
SUMMARY STATS   
# Positive121
# Negative545
Median Positive19.3%31.2%118.2%
Median Negative-16.3%-26.0%-20.5%
Max Positive19.3%59.2%118.2%
Max Negative-20.8%-37.6%-24.2%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/12/202610-Q
03/31/202605/08/202610-Q
12/31/202503/02/202610-K
09/30/202511/13/202510-Q
06/30/202508/13/202510-Q
03/31/202505/15/202510-Q
12/31/202403/31/2025424B4
09/30/202402/11/2025DRS/A
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/12/202610-Q
03/31/202605/08/202610-Q
12/31/202503/02/202610-K
09/30/202511/13/202510-Q
06/30/202508/13/202510-Q
03/31/202505/15/202510-Q
12/31/202403/31/2025424B4
09/30/202402/11/2025DRS/A

Insider Activity

Updated 10/1/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Intrator, Michael NCEO and PresidentDirectSell1001202686.65200,00017,330,16042,210,118Form
2Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell1001202686.65107,692  Form
3Intrator, Michael NCEO and PresidentDirectSell924202686.82200,00017,363,70859,655,538Form
4Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell924202686.82107,692  Form
5Agrawal, NitinChief Financial OfficerDirectSell924202686.8355,7644,841,82311,512,919Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Intrator, Michael NCEO and PresidentDirectSell1001202686.65200,00017,330,16042,210,118Form
2Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell1001202686.65107,692  Form
3Intrator, Michael NCEO and PresidentDirectSell924202686.82200,00017,363,70859,655,538Form
4Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell924202686.82107,692  Form
5Agrawal, NitinChief Financial OfficerDirectSell924202686.8355,7644,841,82311,512,919Form
6Intrator, Michael NCEO and PresidentDirectSell917202681.91200,00016,382,68172,667,758Form
7Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell917202681.91107,692  Form
8Agrawal, NitinChief Financial OfficerDirectSell915202683.7066,5765,572,34515,765,545Form
9McVeety, Kristen JGC and SecretaryDirectSell910202693.9497,5009,158,76611,583,538Form
10Intrator, Michael NCEO and PresidentDirectSell9102026100.08200,00020,016,467108,802,410Form
11Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell9102026100.08107,692  Form
12Goldberg, ChenEVP, Product & EngineeringDirectSell910202695.9122,4242,150,7154,848,316Form
13McVeety, Kristen JGC and SecretaryDirectSell903202681.63156,00012,734,12910,065,921Form
14Intrator, Michael NCEO and PresidentDirectSell903202681.66200,00016,332,810105,112,170Form
15Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell903202681.66107,692  Form
16McVeety, Kristen JGC and SecretaryDirectSell828202688.032,100184,85510,854,745Form
17Intrator, Michael NCEO and PresidentDirectSell827202688.60200,00017,720,946131,766,662Form
18Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell827202688.60107,692  Form
19Agrawal, NitinChief Financial OfficerDirectSell827202688.645,509488,31311,753,205Form
20McBee, BranninChief Development OfficerCanis Major SM TrustSell826202685.5150042,7564,104,562Form
21McBee, BranninChief Development OfficerDirectSell826202685.51144,00012,314,11028,022,382Form
22McBee, BranninChief Development OfficerSpouseSell826202685.5125,000  Form
23McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell826202685.5125,000  Form
24McBee, BranninChief Development OfficerCanis Major 2024 Irrevocable Trust LLCSell826202685.513,000  Form
25McBee, BranninChief Development OfficerCanis Major 2025 GRATSell826202685.5140,000  Form
26McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell826202685.5112,500  Form
27Intrator, Michael NCEO and PresidentDirectSell820202695.72200,00019,143,027160,496,573Form
28Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell820202695.72107,692  Form
29McBee, BranninChief Development OfficerCanis Major SM TrustSell8192026106.1050053,0485,145,673Form
30McBee, BranninChief Development OfficerCanis Major 2024 Irrevocable Trust LLCSell8192026106.093,000  Form
31McBee, BranninChief Development OfficerCanis Major 2025 GRATSell8192026106.0840,000  Form
32McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell8192026106.0812,500  Form
33McBee, BranninChief Development OfficerDirectSell8192026106.08144,00015,275,99734,292,811Form
34McBee, BranninChief Development OfficerSpouseSell8192026106.0825,000  Form
35McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell8192026106.0825,000  Form
36Goldberg, ChenEVP, Product & EngineeringDirectSell8192026106.116,397678,7916,883,303Form
37Magnetar, Financial LlcFootnotesSell8142026108.75307,13133,401,61024,013,888Form
38Magnetar, Financial LlcFootnotesSell8142026111.271,921,259213,781,34724,725,637Form
39Magnetar, Financial LlcFootnotesSell8142026107.832,147,871231,601,95524,841,664Form
40Jain, SachinChief Operating OfficerDirectSell8142026110.00111016,256,240Form
41Intrator, Michael NCEO and PresidentDirectSell813202689.18200,00017,836,297167,377,150Form
42Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell813202689.18107,692  Form
43McBee, BranninChief Development OfficerCanis Major 2025 GRATSell812202689.7340,000  Form
44McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell812202689.7312,500  Form
45McBee, BranninChief Development OfficerCanis Major SM TrustSell812202689.6950044,8474,395,039Form
46McBee, BranninChief Development OfficerDirectSell812202689.73144,00012,920,87329,005,834Form
47McBee, BranninChief Development OfficerSpouseSell812202689.7325,000  Form
48McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell812202689.7325,000  Form
49McBee, BranninChief Development OfficerCanis Major 2024 Irrevocable Trust LLCSell812202689.723,000  Form
50Jain, SachinChief Operating OfficerDirectSell811202692.0913,6081,253,16113,609,521Form
51McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell805202683.6810,036  Form
52McBee, BranninChief Development OfficerCanis Major SM TrustSell805202682.5750041,2834,086,968Form
53McBee, BranninChief Development OfficerCanis Major 2024 Irrevocable Trust LLCSell805202684.102,100  Form
54McBee, BranninChief Development OfficerCanis Major 2025 GRATSell805202682.3740,000  Form
55McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell805202677.012,464189,756772,886Form
56McBee, BranninChief Development OfficerSpouseSell805202685.427,316  Form
57McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell805202682.3725,000  Form
58McBee, BranninChief Development OfficerCanis Major 2024 Irrevocable Trust LLCSell805202678.4590070,607164,750Form
59McBee, BranninChief Development OfficerDirectSell805202682.37144,00011,861,03026,626,611Form
60McBee, BranninChief Development OfficerSpouseSell805202681.0917,6841,433,940593,232Form
61McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell729202671.0412,500  Form
62McBee, BranninChief Development OfficerCanis Major SM TrustSell729202671.0150035,5043,550,394Form
63McBee, BranninChief Development OfficerDirectSell729202671.04144,00010,229,51422,964,052Form
64McBee, BranninChief Development OfficerSpouseSell729202671.0425,000  Form
65McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell729202671.0425,000  Form
66McBee, BranninChief Development OfficerCanis Major 2024 Irrevocable Trust LLCSell729202671.033,000  Form
67McBee, BranninChief Development OfficerCanis Major 2025 GRATSell729202671.0440,000  Form
68McBee, BranninChief Development OfficerCanis Major 2025 GRATSell722202675.1340,000  Form
69McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell722202675.1312,500  Form
70McBee, BranninChief Development OfficerCanis Major 2024 Irrevocable Trust LLCSell722202675.123,000  Form
71McBee, BranninChief Development OfficerDirectSell722202675.13144,00010,819,05924,287,509Form
72McBee, BranninChief Development OfficerSpouseSell722202675.1425,000  Form
73McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell722202675.1325,000  Form
74McBee, BranninChief Development OfficerCanis Major SM TrustSell722202675.0450037,5213,789,603Form
75McBee, BranninChief Development OfficerCanis Major 2025 GRATSell715202684.6440,000  Form
76McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell715202684.6412,500  Form
77McBee, BranninChief Development OfficerCanis Major SM TrustSell715202684.6050042,3004,314,650Form
78McBee, BranninChief Development OfficerDirectSell715202684.64144,00012,188,75527,362,317Form
79McBee, BranninChief Development OfficerSpouseSell715202684.6525,000  Form
80McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell715202684.6425,000  Form
81McBee, BranninChief Development OfficerCanis Major 2024 Irrevocable Trust LLCSell715202684.643,000  Form
82Agrawal, NitinChief Financial OfficerDirectSell715202684.7465,0555,512,78610,907,443Form
83Intrator, Michael NCEO and PresidentDirectSell709202686.9461,7975,372,646250,110,970Form
84Agrawal, NitinChief Financial OfficerDirectSell709202682.98324916,079,118Form
85Intrator, Michael NCEO and PresidentDirectSell709202682.65200,00016,529,869242,874,360Form
86Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell709202682.65107,692  Form
87McVeety, Kristen JGC and SecretaryDirectSell708202685.89221,89010,452,718Form
88McBee, BranninChief Development OfficerCanis Major 2025 GRATSell708202686.1340,000  Form
89McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell708202686.1312,500  Form
90McBee, BranninChief Development OfficerCanis Major SM TrustSell708202686.1250043,0624,435,427Form
91McBee, BranninChief Development OfficerDirectSell708202686.13144,00012,402,66027,842,506Form
92McBee, BranninChief Development OfficerSpouseSell708202686.1325,000  Form
93McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell708202686.1325,000  Form
94McBee, BranninChief Development OfficerCanis Major 2024 Irrevocable Trust LLCSell708202686.133,000  Form
95Venturo, Brian MChief Strategy OfficerWest Clay Capital LLCSell702202686.9961,532  Form
96Venturo, Brian MChief Strategy OfficerVenturo Family GST Exempt Trust dated June 30, 2023Sell702202686.9915,380  Form
97Venturo, Brian MChief Strategy OfficerDirectSell702202695.6965,4936,267,02522,571,644Form
98McVeety, Kristen JGC and SecretaryDirectSell702202695.69438311,647,195Form
99Jain, SachinChief Operating OfficerDirectSell702202695.69328712,213,202Form
100Intrator, Michael NCEO and PresidentDirectSell702202697.43278,56027,140,545305,799,977Form
101Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell702202698.12107,692  Form
102Goldberg, ChenEVP, Product & EngineeringDirectSell702202695.6943835,681,211Form
103Baker, JeffPrincipal Accounting OfficerDirectSell702202695.694383107,364Form
104Agrawal, NitinChief Financial OfficerDirectSell702202695.69438318,542,234Form
105McBee, BranninChief Development OfficerDirectSell701202695.6956,7075,426,29330,933,036Form
106McBee, BranninChief Development OfficerCanis Major SM TrustSell701202694.3250047,1594,904,485Form
107McBee, BranninChief Development OfficerCanis Major 2024 Irrevocable Trust LLCSell701202694.323,000  Form
108McBee, BranninChief Development OfficerCanis Major 2025 GRATSell701202694.3240,000  Form
109McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell701202694.3212,500  Form
110McBee, BranninChief Development OfficerDirectSell701202694.32144,00013,582,71124,416,055Form
111McBee, BranninChief Development OfficerSpouseSell701202694.3225,000  Form
112McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell701202694.3225,000  Form
113Venturo, Brian MChief Strategy OfficerWest Clay Capital LLCSell6262026101.3261,539  Form
114Venturo, Brian MChief Strategy OfficerVenturo Family GST Exempt Trust dated June 30, 2023Sell6262026101.3215,385  Form
115Intrator, Michael NCEO and PresidentDirectSell6252026106.81200,00021,362,822350,010,084Form
116Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell6252026106.81107,692  Form
117McBee, BranninChief Development OfficerCanis Major SM TrustSell6242026111.2750055,6335,841,430Form
118McBee, BranninChief Development OfficerCanis Major 2025 GRATSell6242026111.2840,000  Form
119McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell6242026111.2812,500  Form
120McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell6242026111.2825,000  Form
121McBee, BranninChief Development OfficerCanis Major 2024 Irrevocable Trust LLCSell6242026111.273,000  Form
122McBee, BranninChief Development OfficerDirectSell6242026111.28144,00016,023,68328,803,905Form
123McBee, BranninChief Development OfficerSpouseSell6242026111.2825,000  Form
124Venturo, Brian MChief Strategy OfficerWest Clay Capital LLCSell6182026118.4861,539  Form
125Venturo, Brian MChief Strategy OfficerVenturo Family GST Exempt Trust dated June 30, 2023Sell6182026118.4815,385  Form
126Intrator, Michael NCEO and PresidentDirectSell6182026116.65200,00023,330,521405,579,518Form
127Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell6182026116.65107,692  Form
128Agrawal, NitinChief Financial OfficerDirectSell6182026116.7058,4296,818,58422,612,810Form
129McBee, BranninChief Development OfficerCanis Major 2025 GRATSell6172026107.3040,000  Form
130McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell6172026107.3012,500  Form
131McBee, BranninChief Development OfficerDirectSell6172026107.30144,00015,450,60727,773,753Form
132McBee, BranninChief Development OfficerSpouseSell6172026107.3025,000  Form
133McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell6172026107.3025,000  Form
134McBee, BranninChief Development OfficerCanis Major 2024 Irrevocable Trust LLCSell6172026107.303,000  Form
135McBee, BranninChief Development OfficerCanis Major SM TrustSell6172026107.2950053,6465,686,497Form
136Goldberg, ChenEVP, Product & EngineeringDirectSell6172026107.295,541594,4726,369,355Form
137Agrawal, NitinChief Financial OfficerDirectSell612202693.3563,8915,964,51223,544,002Form
138Venturo, Brian MChief Strategy OfficerWest Clay Capital LLCSell612202696.8961,539  Form
139Venturo, Brian MChief Strategy OfficerVenturo Family GST Exempt Trust dated June 30, 2023Sell612202696.8915,385  Form
140Intrator, Michael NCEO and PresidentDirectSell611202698.88200,00019,776,902363,580,058Form
141Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell611202698.88107,692  Form
142McBee, BranninChief Development OfficerCanis Major 2024 Irrevocable Trust LLCSell6102026101.843,000  Form
143McBee, BranninChief Development OfficerCanis Major 2025 GRATSell6102026101.8440,000  Form
144McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell6102026101.8412,500  Form
145McBee, BranninChief Development OfficerDirectSell6102026101.84144,00014,664,71026,361,038Form
146McBee, BranninChief Development OfficerSpouseSell6102026101.8425,000  Form
147McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell6102026101.8425,000  Form
148McBee, BranninChief Development OfficerCanis Major SM TrustSell6102026101.8350050,9165,448,056Form
149Venturo, Brian MChief Strategy OfficerVenturo Family GST Exempt Trust dated June 30, 2023Sell6052026112.5115,385  Form
150Venturo, Brian MChief Strategy OfficerDirectSell6052026112.5154,4746,128,66719,644,158Form
151Venturo, Brian MChief Strategy OfficerWest Clay Capital LLCSell6052026112.5161,539  Form
152Intrator, Michael NCEO and PresidentDirectSell6042026122.38200,00024,475,694474,438,684Form
153Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell6042026122.38107,692  Form
154Magnetar, Financial LlcFootnotesSell6032026130.56112,11114,636,91931,584,443Form
155Jain, SachinChief Operating OfficerDirectSell6032026120.003,798455,76015,315,480Form
156Cogen, Jack D CW Holding 987 LLCSell6022026106.97271,15329,004,694938,074,701Form
157Jain, SachinChief Operating OfficerDirectSell5292026110.0089898,78014,456,970Form
158Cogen, Jack D CW Holding 987 LLCSell5292026106.32642,30768,291,181961,236,440Form
159Venturo, Brian MChief Strategy OfficerWest Clay Capital LLCSell5292026102.3361,539  Form
160Venturo, Brian MChief Strategy OfficerVenturo Family GST Exempt Trust dated June 30, 2023Sell5292026102.3315,385  Form
161McVeety, Kristen JGC and SecretaryDirectSell5292026101.872,246228,79212,398,680Form
162Cogen, Jack D CW Holding 987 LLCSell5292026103.77100,00010,377,0001,004,819,023Form
163Agrawal, NitinChief Financial OfficerDirectSell5292026102.175,508562,75819,797,793Form
164Intrator, Michael NCEO and PresidentDirectSell5282026106.74200,00021,348,107435,161,420Form
165Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell5282026106.74107,693  Form
166Cogen, Jack D Birch Br Trust LLCSell5282026107.80110,000  Form
167Cogen, Jack D Chestnut Br Trust LLCSell5282026107.80110,000  Form
168Cogen, Jack D Maple Br Trust LLCSell5282026107.80110,000  Form
169Cogen, Jack D Willow Br Trust LLCSell5282026107.80110,000  Form
170Cogen, Jack D CW Holding 987 LLCSell5282026107.80546,54058,915,5431,054,595,764Form
171Boone, Karen DirectSell5282026108.231,060114,724790,079Form
172Boone, Karen The Boone Family Trust, dated August 6, 2015Sell5282026107.4510,520  Form
173Venturo, Brian MChief Strategy OfficerDirectSell522202699.825,887587,64022,866,666Form
174Venturo, Brian MChief Strategy OfficerWest Clay Capital LLCSell5222026101.0961,539  Form
175Venturo, Brian MChief Strategy OfficerVenturo Family GST Exempt Trust dated June 30, 2023Sell5222026101.0915,385  Form
176McVeety, Kristen JGC and SecretaryDirectSell522202699.823,833382,61012,373,787Form
177McBee, BranninChief Development OfficerDirectSell522202699.823,683367,63731,751,345Form
178Jain, SachinChief Operating OfficerDirectSell522202699.826,377636,55213,208,682Form
179Intrator, Michael NCEO and PresidentDirectSell522202699.8213,1291,310,537426,911,673Form
180Goldberg, ChenEVP, Product & EngineeringDirectSell5222026100.3414,1681,421,5866,512,828Form
181Baker, JeffPrincipal Accounting OfficerDirectSell522202699.821,320131,762111,699Form
182Agrawal, NitinChief Financial OfficerDirectSell522202699.8210,0621,004,38919,892,030Form
183Venturo, Brian MChief Strategy OfficerWest Clay Capital LLCSell5202026101.24300,000  Form
184Venturo, Brian MChief Strategy OfficerVenturo Family GST Exempt Trust dated June 30, 2023Sell5202026101.2475,000  Form
185Intrator, Michael NCEO and PresidentDirectSell5142026105.67200,00021,133,902471,972,967Form
186Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell5142026105.67107,693  Form
187Jain, SachinChief Operating OfficerDirectSell5122026118.6114,7501,749,56014,596,432Form
188Magnetar, Financial LlcFootnotesSell5082026129.91159,16820,677,14987,621,445Form
189Magnetar, Financial LlcFootnotesSell5082026129.91587,01076,257,07331,489,088Form
190Magnetar, Financial LlcFootnotesSell5082026136.71797,884109,080,68393,625,613Form
191Magnetar, Financial LlcFootnotesSell5082026136.731,202,656164,441,06133,573,757Form
192Venturo, Brian MChief Strategy OfficerWest Clay Capital LLCSell5082026136.7061,539  Form
193Venturo, Brian MChief Strategy OfficerVenturo Family GST Exempt Trust dated June 30, 2023Sell5082026136.7015,385  Form
194Jain, SachinChief Operating OfficerDirectSell5082026131.137,335961,83913,646,437Form
195Magnetar, Financial LlcFootnotesSell5062026127.68349,43744,614,57690,634,732Form
196Magnetar, Financial LlcFootnotesSell5062026127.68978,764124,964,22332,323,234Form
197Magnetar, Financial LlcFootnotesSell5062026127.29420,22753,489,50292,446,501Form
198Magnetar, Financial LlcFootnotesSell5062026127.291,155,164147,037,49232,861,205Form
199Venturo, Brian MChief Strategy OfficerWest Clay Capital LLCSell5062026126.78300,000  Form
200Venturo, Brian MChief Strategy OfficerVenturo Family GST Exempt Trust dated June 30, 2023Sell5062026126.7875,000  Form
201Magnetar, Financial LlcFootnotesSell5012026119.91209,15725,080,69689,411,877Form
202Magnetar, Financial LlcFootnotesSell5012026119.911,284,876154,073,68231,664,418Form
203Magnetar, Financial LlcFootnotesSell5012026117.846,564773,50231,758,587Form
204Venturo, Brian MChief Strategy OfficerWest Clay Capital LLCSell5012026113.2461,539  Form
205Venturo, Brian MChief Strategy OfficerVenturo Family GST Exempt Trust dated June 30, 2023Sell5012026113.2415,385  Form
206Baker, JeffPrincipal Accounting OfficerDirectSell5012026107.876,760729,2014,587,603Form
207Venturo, Brian MChief Strategy OfficerWest Clay Capital LLCSell4292026109.03300,000  Form
208Venturo, Brian MChief Strategy OfficerVenturo Family GST Exempt Trust dated June 30, 2023Sell4292026109.0375,000  Form
209McBee, BranninChief Development OfficerCanis Major 2025 GRATSell4292026109.0333,350  Form
210McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell4292026109.0312,500  Form
211McBee, BranninChief Development OfficerDirectSell4292026109.03200,00021,806,77534,207,416Form
212McBee, BranninChief Development OfficerSpouseSell4292026109.0333,350  Form
213McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell4292026109.0354,150  Form
214Goldberg, ChenEVP, Product & EngineeringDirectSell4292026109.004,879531,8234,803,415Form
215Intrator, Michael NCEO and PresidentDirectSell4232026116.42200,00023,284,896589,864,740Form
216Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell4232026116.42107,693  Form
217Magnetar, Financial LlcFootnotesSell4222026118.26323,45238,251,43433,052,369Form
218Venturo, Brian MChief Strategy OfficerWest Clay Capital LLCSell4222026115.93900,000  Form
219Venturo, Brian MChief Strategy OfficerVenturo Family GST Exempt Trust dated June 30, 2023Sell4222026115.93225,000  Form
220McBee, BranninChief Development OfficerCanis Major 2025 GRATSell4222026115.9433,330  Form
221McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell4222026115.9412,500  Form
222McBee, BranninChief Development OfficerDirectSell4222026115.93200,00023,186,39336,371,567Form
223McBee, BranninChief Development OfficerSpouseSell4222026115.9433,330  Form
224McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell4222026115.9454,170  Form
225Magnetar, Financial LlcFootnotesSell4222026117.33319,83537,526,24132,930,776Form
226Intrator, Michael NCEO and PresidentDirectSell4162026116.94200,00023,388,190615,869,621Form
227Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell4162026116.94107,693  Form
228Jain, SachinChief Operating OfficerDirectSell4142026105.007,335770,18312,112,506Form
229Venturo, Brian MChief Strategy OfficerDirectSell410202689.2261,7475,508,94819,947,375Form
230Jain, SachinChief Operating OfficerDirectSell410202692.003,953363,67611,287,572Form
231Intrator, Michael NCEO and PresidentDirectSell410202689.2262,3995,567,083487,707,555Form
232Goldberg, ChenEVP, Product & EngineeringDirectSell410202692.009,757897,6444,503,032Form
233Agrawal, NitinChief Financial OfficerDirectSell410202692.00141,28817,470,064Form
234Venturo, Brian MChief Strategy OfficerWest Clay Capital LLCSell408202680.86900,000  Form
235Venturo, Brian MChief Strategy OfficerVenturo Family GST Exempt Trust dated June 30, 2023Sell408202680.86225,000  Form
236McBee, BranninChief Development OfficerDirectSell408202681.25100,0008,124,96125,490,604Form
237McBee, BranninChief Development OfficerSpouseSell408202681.2516,665  Form
238McBee, BranninChief Development OfficerCanis Major 2025 GRATSell408202681.2516,665  Form
239McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell408202681.2527,085  Form
240McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell408202681.256,250  Form
241Venturo, Brian MChief Strategy OfficerDirectSell402202674.0565,0054,813,62021,128,464Form
242McVeety, Kristen JGC and SecretaryDirectSell402202674.05118158,893,257Form
243McBee, BranninChief Development OfficerDirectSell402202674.0556,0314,149,09623,231,855Form
244Intrator, Michael NCEO and PresidentDirectSell402202674.0577,9395,771,383424,225,045Form
245Goldberg, ChenEVP, Product & EngineeringDirectSell402202674.05161,1854,346,957Form
246Baker, JeffPrincipal Accounting OfficerDirectSell402202674.05161,1852,724,225Form
247Agrawal, NitinChief Financial OfficerDirectSell402202674.05161,18514,062,539Form
248McBee, BranninChief Development OfficerCanis Major 2025 GRATSell401202669.2216,665  Form
249McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell401202669.226,250  Form
250McBee, BranninChief Development OfficerDirectSell401202669.22100,0006,922,41317,213,550Form
251McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell401202669.2227,085  Form
252McBee, BranninChief Development OfficerSpouseSell401202669.2216,665  Form
253Intrator, Michael NCEO and PresidentDirectSell327202687.3432,4562,834,835494,934,602Form
254Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell327202687.3450,000  Form
255McBee, BranninChief Development OfficerCanis Major 2025 GRATSell325202682.5316,665  Form
256McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell325202682.536,250  Form
257McBee, BranninChief Development OfficerDirectSell325202682.53100,0008,252,77920,521,690Form
258McBee, BranninChief Development OfficerSpouseSell325202682.5316,665  Form
259McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell325202682.5327,085  Form
260Venturo, Brian MChief Strategy OfficerWest Clay Capital LLCSell320202683.65281,250  Form
261McBee, BranninChief Development OfficerCanis Major 2025 GRATSell318202684.4416,665  Form
262McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell318202684.446,250  Form
263McBee, BranninChief Development OfficerDirectSell318202684.44100,0008,444,23020,997,759Form
264McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell318202684.4427,085  Form
265McBee, BranninChief Development OfficerSpouseSell318202684.4416,665  Form
266Intrator, Michael NCEO and PresidentDirectSell313202681.4132,4552,642,137463,947,772Form
267Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell313202681.4150,000  Form
268Agrawal, NitinChief Financial OfficerDirectSell313202679.6863,1575,032,35018,194,769Form
269McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell311202672.6118,750  Form
270McBee, BranninChief Development OfficerDirectSell311202672.61300,00021,782,81718,055,342Form
271McBee, BranninChief Development OfficerSpouseSell311202672.6149,995  Form
272McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell311202672.6181,255  Form
273McBee, BranninChief Development OfficerCanis Major 2025 GRATSell311202672.6149,995  Form
274Agrawal, NitinChief Financial OfficerDirectSell305202673.203,920286,93512,383,956Form
275McVeety, Kristen JGC and SecretaryDirectSell227202697.922,671261,55511,758,603Form
276Intrator, Michael NCEO and PresidentDirectSell227202699.9532,4563,243,823572,827,461Form
277Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell227202699.9550,000  Form
278McVeety, Kristen JGC and SecretaryDirectSell224202690.831,677152,32611,149,661Form
279Goldberg, ChenEVP, Product & EngineeringDirectSell224202690.8418,9501,721,3335,331,047Form
280Baker, JeffPrincipal Accounting OfficerDirectSell224202690.832,374215,6423,749,211Form
281Agrawal, NitinChief Financial OfficerDirectSell224202690.845,383488,98015,724,480Form
282McBee, BranninChief Development OfficerCanis Major 2025 GRATSell219202691.7325,000  Form
283McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell219202691.738,315  Form
284McBee, BranninChief Development OfficerCanis Major 2024 Irrevocable Trust LLCSell219202691.813,000  Form
285McBee, BranninChief Development OfficerCanis Major 2025 Family Trust LLCSell219202691.811,000  Form
286McBee, BranninChief Development OfficerCanis Minor 2025 Family Trust LLCSell219202691.811,000  Form
287McBee, BranninChief Development OfficerCanis Major SM TrustSell219202691.8150045,9064,957,900Form
288McBee, BranninChief Development OfficerDirectSell219202691.73102,8309,432,38622,809,442Form
289McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell219202691.7325,000  Form
290Intrator, Michael NCEO and PresidentDirectSell213202693.6332,4553,038,833539,683,701Form
291Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell213202693.6350,000  Form
292McBee, BranninChief Development OfficerCanis Major 2025 GRATSell211202695.9525,000  Form
293McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell211202695.958,335  Form
294McBee, BranninChief Development OfficerCanis Major 2024 Irrevocable Trust LLCSell211202695.813,000  Form
295McBee, BranninChief Development OfficerCanis Major 2025 Family Trust LLCSell211202695.811,000  Form
296McBee, BranninChief Development OfficerCanis Minor 2025 Family Trust LLCSell211202695.811,000  Form
297McBee, BranninChief Development OfficerDirectSell211202695.95102,8309,866,21023,858,517Form
298McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell211202695.9525,000  Form
299McBee, BranninChief Development OfficerCanis Major SM TrustSell211202695.8150047,9075,221,837Form
300Goldberg, ChenSVP of EngineeringDirectSell206202679.6917,9851,433,2913,415,592Form
301Venturo, Brian MChief Strategy OfficerWest Clay Capital LLCSell206202685.00281,250  Form
302McBee, BranninChief Development OfficerCanis Major 2025 Family Trust LLCSell204202690.531,000  Form
303McBee, BranninChief Development OfficerCanis Minor 2025 Family Trust LLCSell204202690.531,000  Form
304McBee, BranninChief Development OfficerCanis Major 2025 GRATSell204202690.4325,000  Form
305McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell204202690.438,335  Form
306McBee, BranninChief Development OfficerDirectSell204202690.43102,8309,298,59622,485,909Form
307McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell204202690.4325,000  Form
308McBee, BranninChief Development OfficerCanis Major 2024 Irrevocable Trust LLCSell204202690.533,000  Form
309McBee, BranninChief Development OfficerCanis Major SM TrustSell204202690.5350045,2664,979,241Form
310Baker, JeffPrincipal Accounting OfficerDirectSell1302026103.785,143533,7604,079,115Form
311Intrator, Michael NCEO and PresidentDirectSell1302026106.0832,4563,443,055614,895,769Form
312Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell1302026106.0850,000  Form
313McBee, BranninChief Development OfficerCanis Major 2025 GRATSell1282026101.4525,000  Form
314McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell1282026101.458,335  Form
315McBee, BranninChief Development OfficerCanis Major 2025 Family Trust LLCSell1282026101.491,000  Form
316McBee, BranninChief Development OfficerCanis Minor 2025 Family Trust LLCSell1282026101.491,000  Form
317McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell1282026101.4525,000  Form
318McBee, BranninChief Development OfficerCanis Major SM TrustSell1282026101.4950050,7455,632,668Form
319McBee, BranninChief Development OfficerDirectSell1282026101.45102,83010,432,31525,227,475Form
320McBee, BranninChief Development OfficerCanis Major 2024 Irrevocable Trust LLCSell1282026101.493,000  Form
321McBee, BranninChief Development OfficerCanis Major 2025 Family Trust LLCSell122202695.291,000  Form
322McBee, BranninChief Development OfficerCanis Minor 2025 Family Trust LLCSell122202695.291,000  Form
323McBee, BranninChief Development OfficerCanis Major 2025 GRATSell122202695.2925,000  Form
324McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell122202695.298,335  Form
325McBee, BranninChief Development OfficerDirectSell122202695.29102,8359,799,59323,696,271Form
326McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell122202695.2925,000  Form
327McBee, BranninChief Development OfficerCanis Major 2024 Irrevocable Trust LLCSell122202695.293,000  Form
328McBee, BranninChief Development OfficerCanis Major SM TrustSell122202695.2950047,6455,336,268Form
329Intrator, Michael NCEO and PresidentDirectSell116202689.3932,4552,901,244521,050,978Form
330Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell116202689.3950,000  Form
331McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell114202688.788,335  Form
332McBee, BranninChief Development OfficerCanis Major SM TrustSell114202688.6250044,3095,006,913Form
333McBee, BranninChief Development OfficerCanis Major 2025 GRATSell114202688.7825,000  Form
334McBee, BranninChief Development OfficerCanis Minor 2025 Family Trust LLCSell114202688.621,000  Form
335McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell114202688.7825,000  Form
336McBee, BranninChief Development OfficerCanis Major 2025 Family Trust LLCSell114202688.621,000  Form
337McBee, BranninChief Development OfficerDirectSell114202688.78102,8359,129,57322,076,105Form
338McBee, BranninChief Development OfficerCanis Major 2024 Irrevocable Trust LLCSell114202688.623,000  Form
339Venturo, Brian MChief Strategy OfficerDirectSell102202672.5765,9404,785,36320,033,571Form
340McBee, BranninChief Development OfficerDirectSell102202672.5757,6364,182,72318,045,886Form
341Intrator, Michael NCEO and PresidentDirectSell102202672.39111,4278,065,759428,714,980Form
342Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell102202671.9450,000  Form
343McBee, BranninChief Development OfficerCanis Major 2025 GRATSell1231202575.6325,000  Form
344McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell1231202575.638,335  Form
345McBee, BranninChief Development OfficerCanis Major SM TrustSell1231202575.5750037,7854,345,261Form
346McBee, BranninChief Development OfficerDirectSell1231202575.63102,8357,777,06414,004,614Form
347McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell1231202575.6325,000  Form
348McBee, BranninChief Development OfficerCanis Major 2024 Irrevocable Trust LLCSell1231202575.573,000  Form
349McBee, BranninChief Development OfficerCanis Major 2025 Family Trust LLCSell1231202575.571,000  Form
350McBee, BranninChief Development OfficerCanis Minor 2025 Family Trust LLCSell1231202575.571,000  Form
351Venturo, Brian MChief Strategy OfficerWest Clay Capital LLCSell1229202579.36281,250  Form
352McBee, BranninChief Development OfficerDirectSell1223202585.30102,8358,771,43515,795,236Form
353McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell1223202585.3025,000  Form
354McBee, BranninChief Development OfficerCanis Major 2024 Irrevocable Trust LLCSell1223202585.283,000  Form
355McBee, BranninChief Development OfficerCanis Major 2025 Family Trust LLCSell1223202585.421,000  Form
356McBee, BranninChief Development OfficerCanis Minor 2025 Family Trust LLCSell1223202585.431,000  Form
357McBee, BranninChief Development OfficerCanis Major 2025 GRATSell1223202585.2925,000  Form
358McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell1223202585.328,335  Form
359McBee, BranninChief Development OfficerCanis Major SM TrustSell1223202585.4150042,7034,953,490Form
360Intrator, Michael NCEO and PresidentDirectSell1219202565.4732,4552,124,980385,887,391Form
361Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell1219202565.4750,000  Form
362Agrawal, NitinChief Financial OfficerDirectSell1218202569.1836,3172,512,27511,557,625Form
363McBee, BranninChief Development OfficerCanis Major SM TrustSell1217202573.6850036,8394,310,215Form
364McBee, BranninChief Development OfficerCanis Major 2025 Family Trust LLCSell1217202573.681,000  Form
365McBee, BranninChief Development OfficerCanis Minor 2025 Family Trust LLCSell1217202573.681,000  Form
366McBee, BranninChief Development OfficerCanis Major 2025 GRATSell1217202573.5725,000  Form
367McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell1217202573.578,335  Form
368McBee, BranninChief Development OfficerDirectSell1217202573.57102,8357,565,92913,624,411Form
369McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell1217202573.5725,000  Form
370McBee, BranninChief Development OfficerCanis Major 2024 Irrevocable Trust LLCSell1217202573.683,000  Form
371Agrawal, NitinChief Financial OfficerDirectSell1212202582.5866,4675,488,53216,795,155Form
372Venturo, Brian MChief Strategy OfficerWest Clay Capital LLCSell1212202587.75281,250  Form
373McBee, BranninChief Development OfficerDirectSell1210202583.80102,8358,617,92315,518,797Form
374McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell1210202583.8025,000  Form
375McBee, BranninChief Development OfficerCanis Major 2024 Irrevocable Trust LLCSell1210202583.773,000  Form
376McBee, BranninChief Development OfficerCanis Major 2025 Family Trust LLCSell1210202583.771,000  Form
377McBee, BranninChief Development OfficerCanis Minor 2025 Family Trust LLCSell1210202583.771,000  Form
378McBee, BranninChief Development OfficerCanis Major 2025 GRATSell1210202583.8025,000  Form
379McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell1210202583.808,335  Form
380McBee, BranninChief Development OfficerCanis Major SM TrustSell1210202583.7750041,8864,942,495Form
381Intrator, Michael NCEO and PresidentDirectSell1205202576.8832,4552,495,277455,626,979Form
382Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell1205202576.8850,000  Form
383McVeety, Kristen JGC and SecretaryDirectSell1205202574.532,116157,7015,888Form
384McBee, BranninChief Development OfficerBrannin J McBee 2022 Irrevocable TrustSell1204202578.6125,000  Form
385McBee, BranninChief Development OfficerCanis Minor 2025 Family Trust LLCSell1204202578.611,000  Form
386McBee, BranninChief Development OfficerCanis Minor 2025 GRATSell1204202578.618,335  Form
387McBee, BranninChief Development OfficerCanis Major 2024 Irrevocable Trust LLCSell1204202578.613,000  Form
388McBee, BranninChief Development OfficerCanis Major 2025 Family Trust LLCSell1204202578.611,000  Form
389McBee, BranninChief Development OfficerCanis Major 2025 GRATSell1204202578.6125,000  Form
390McBee, BranninChief Development OfficerCanis Major SM TrustSell1204202578.6150039,3064,677,443Form
391McBee, BranninChief Development OfficerDirectSell1204202578.61102,8358,083,82614,557,018Form
392Venturo, Brian MChief Strategy OfficerYOLO APV TrustSell1203202574.9532,8072,459,04113,692,660Form
393Venturo, Brian MChief Strategy OfficerYOLO ECV TrustSell1203202574.9432,7992,458,00613,690,836Form
394Venturo, Brian MChief Strategy OfficerWest Clay Capital LLCSell1128202574.44281,250  Form
395Agrawal, NitinChief Financial OfficerDirectSell1128202570.273,640255,76810,365,551Form
396McVeety, Kristen JGC and SecretaryDirectSell1121202582.552,231184,169181,197Form
397Agrawal, NitinChief Financial OfficerDirectSell1121202582.555,841482,17512,478,175Form
398Intrator, Michael NCEO and PresidentDirectSell1121202574.7132,4552,424,654445,156,227Form
399Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell1121202574.7150,000  Form
400Venturo, Brian MChief Strategy OfficerWest Clay Capital LLCSell1114202587.57281,250  Form
401Goldberg, ChenSVP of EngineeringDirectSell1113202590.7913,7401,247,4682,119,425Form
402Goldberg, ChenSVP of EngineeringDirectSell11072025118.3019,1802,268,9944,387,037Form
403Intrator, Michael NCEO and PresidentDirectSell11072025113.9732,4553,698,950796,782,189Form
404Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell11072025113.9750,000  Form
405Magnetar, Financial LlcFootnotesSell11052025134.947,6881,037,38240,414,737Form
406Venturo, Brian MChief Strategy OfficerYOLO APV TrustSell11052025127.9314,9581,913,64927,568,163Form
407Venturo, Brian MChief Strategy OfficerYOLO ECV TrustSell11052025127.9414,9581,913,71427,569,095Form
408Magnetar, Financial LlcFootnotesSell10312025135.65191,33125,953,371115,824,297Form
409Magnetar, Financial LlcFootnotesSell10312025135.65331,32444,942,83740,631,865Form
410Magnetar, Financial LlcFootnotesSell10312025134.69216,01029,094,65040,608,056Form
411Venturo, Brian MChief Strategy OfficerWest Clay Capital LLCSell10312025137.80281,250  Form
412Magnetar, Financial LlcFootnotesSell10292025138.48464,16964,279,131119,494,743Form
413Magnetar, Financial LlcFootnotesSell10292025138.48804,514111,412,04641,862,780Form
414Magnetar, Financial LlcFootnotesSell10292025138.61378,29352,436,174121,757,163Form
415Magnetar, Financial LlcFootnotesSell10292025138.61435,63760,384,77442,555,036Form
416Magnetar, Financial LlcFootnotesSell10292025138.61639,67588,666,857226,489,952Form
417Magnetar, Financial LlcFootnotesSell10292025135.02531,59971,776,50542,183,899Form
418Intrator, Michael NCEO and PresidentDirectSell10242025118.5832,4553,848,450832,833,900Form
419Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell10242025118.5750,000  Form
420Magnetar, Financial LlcFootnotesSell10222025136.7344,1816,040,83642,988,364Form
421Magnetar, Financial LlcFootnotesSell10172025136.6218,3712,509,857123,392,321Form
422Magnetar, Financial LlcFootnotesSell10172025136.62244,20333,361,92542,975,424Form
423Magnetar, Financial LlcFootnotesSell10172025143.51303,20643,513,560130,072,258Form
424Magnetar, Financial LlcFootnotesSell10172025143.51549,08778,800,232187,953,264Form
425Magnetar, Financial LlcFootnotesSell10172025143.51254,52536,527,25545,283,750Form
426Magnetar, Financial LlcFootnotesSell10172025143.511,004,073144,096,539322,440,928Form
427Magnetar, Financial LlcFootnotesSell10172025138.7512,8761,786,505129,349,810Form
428Magnetar, Financial LlcFootnotesSell10172025138.75495,12268,696,626190,897,374Form
429Magnetar, Financial LlcFootnotesSell10172025138.76556,23077,184,30544,885,067Form
430Venturo, Brian MChief Strategy OfficerWest Clay Capital LLCSell10172025138.47154,479  Form
431Magnetar, Financial LlcFootnotesSell10152025137.1917,7892,440,44944,914,751Form
432Magnetar, Financial LlcFootnotesSell10152025141.2727,9453,947,818133,552,805Form
433Magnetar, Financial LlcFootnotesSell10152025141.27369,37952,183,13646,261,129Form
434Magnetar, Financial LlcFootnotesSell10102025148.74414,54761,658,723274,507,574Form
435Magnetar, Financial LlcFootnotesSell10102025148.80180,16626,807,87448,943,573Form
436Magnetar, Financial LlcFootnotesSell10102025148.80208,20730,980,194141,386,800Form
437Magnetar, Financial LlcFootnotesSell10102025141.16372,70652,611,485135,511,000Form
438Magnetar, Financial LlcFootnotesSell10102025141.16907,277128,070,41346,851,838Form
439Magnetar, Financial LlcFootnotesSell10102025139.46691,24396,403,19046,952,211Form
440Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell10092025139.6615,174  Form
441Intrator, Michael NCEO and PresidentDirectSell10092025136.7232,4554,437,309964,704,873Form
442Intrator, Michael NCEO and PresidentOmnadora Capital LLCSell10092025135.4434,8264,716,9712,055,226Form
443Intrator, Michael NCEO and PresidentDirectSell10092025131.5461,8108,130,424932,403,475Form
444Venturo, Brian MChief Strategy OfficerDirectSell10082025137.9052,7877,279,09034,297,648Form
445Magnetar, Financial LlcFootnotesSell10072025137.6363,3188,714,37446,688,058Form
446Magnetar, Financial LlcFootnotesSell10072025139.27570,46379,447,33347,277,224Form
447Magnetar, Financial LlcFootnotesSell10072025139.371,149,406160,196,85347,608,907Form
448Venturo, Brian MChief Strategy OfficerWest Clay Capital LLCSell10032025135.67281,250  Form
449Venturo, Brian MChief Strategy OfficerYOLO APV TrustSell10032025135.6514,6151,982,50531,259,419Form
450Venturo, Brian MChief Strategy OfficerYOLO ECV TrustSell10032025135.6814,6151,982,99931,267,200Form
451Magnetar, Financial LlcFootnotesSell10022025138.20149,52420,664,788139,006,921Form
452Magnetar, Financial LlcFootnotesSell10022025138.22901,524124,605,99947,803,753Form
453Magnetar, Financial LlcFootnotesSell10022025137.11286,32339,257,74747,955,594Form
454Magnetar, Financial LlcFootnotesSell10022025139.5599,69113,911,778142,627,160Form
455Magnetar, Financial LlcFootnotesSell10022025139.55581,48481,145,574223,995,856Form
456Magnetar, Financial LlcFootnotesSell10022025139.55732,944102,280,89248,956,100Form
457Venturo, Brian MChief Strategy OfficerDirectSell10022025139.4465,5939,146,28842,042,415Form
458McBee, BranninChief Development OfficerDirectSell10022025138.59157,90321,884,29025,664,837Form
459McBee, BranninChief Development OfficerBrannin J. McBee 2022 Irrevocable TrustSell10022025138.10150,000  Form
460Intrator, Michael NCEO and PresidentDirectSell10022025139.4478,54810,952,733997,028,071Form

Investor Activity (13F)

Updated Oct 1, 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
Magnetar Financial LLC$4.7 Bil48.2%1754Hold13F
Lavaca Capital LLC$226.5 Mil42.1%277ADD +16.9%13F
Cisco Systems, Inc.$82.4 Mil26.0%3Hold13F
Nvidia Corp$3.7 Bil19.9%7ADD +94.5%13F
Peak6 LLC$527.9 Mil15.3%881ADD +17.6%13F
Panview Capital Ltd$69.5 Mil14.9%12New13F
Situational Awareness Partners LP$556.1 Mil14.4%26New13F
Situational Awareness LP$556.1 Mil14.4%26ADD +17.7%13F
Altimeter Capital Management, LP$348.5 Mil6.1%13ADD +40.0%13F
Kinetic Partners Management, LP$41.1 Mil2.3%49ADD +142.6%13F
MKP Capital Management, L.L.C.$44.9 Mil1.5%19New13F
Infinitum Asset Management, LLC$11.6 Mil1.5%21New13F
Anther Capital Ltd$31.0 Mil0.8%31New13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Situational Awareness Partners LP$556.1 Mil14.4%26New13F
Panview Capital Ltd$69.5 Mil14.9%12New13F
MKP Capital Management, L.L.C.$44.9 Mil1.5%19New13F
Anther Capital Ltd$31.0 Mil0.8%31New13F
Infinitum Asset Management, LLC$11.6 Mil1.5%21New13F
Kinetic Partners Management, LP$41.1 Mil2.3%49ADD +142.6%13F
Nvidia Corp$3.7 Bil19.9%7ADD +94.5%13F
Altimeter Capital Management, LP$348.5 Mil6.1%13ADD +40.0%13F
Situational Awareness LP$556.1 Mil14.4%26ADD +17.7%13F
Peak6 LLC$527.9 Mil15.3%881ADD +17.6%13F
Lavaca Capital LLC$226.5 Mil42.1%277ADD +16.9%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
SHANDA ASSET MANAGEMENT HOLDINGS Ltd$28.6 Mil1.4%10Exited13F
H&H International Investment, LLC$21.5 Mil0.1%14Exited13F
Broad Peak Investment Advisers Pte Ltd$15.5 Mil2.8%20Exited13F
Two Seas Capital LP$7.9 Mil0.5%29Exited13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Magnetar Financial LLC$4.7 Bil48.2%1754Hold13F
Nvidia Corp$3.7 Bil19.9%7ADD +94.5%13F
Situational Awareness Partners LP$556.1 Mil14.4%26New13F
Situational Awareness LP$556.1 Mil14.4%26ADD +17.7%13F
Peak6 LLC$527.9 Mil15.3%881ADD +17.6%13F
Altimeter Capital Management, LP$348.5 Mil6.1%13ADD +40.0%13F
Lavaca Capital LLC$226.5 Mil42.1%277ADD +16.9%13F
Cisco Systems, Inc.$82.4 Mil26.0%3Hold13F
Panview Capital Ltd$69.5 Mil14.9%12New13F
MKP Capital Management, L.L.C.$44.9 Mil1.5%19New13F
Kinetic Partners Management, LP$41.1 Mil2.3%49ADD +142.6%13F
Anther Capital Ltd$31.0 Mil0.8%31New13F
Infinitum Asset Management, LLC$11.6 Mil1.5%21New13F
Core Cache Last Updated: 9/30/2026