NAVN Navan, Inc. - Class A Common Stock

NASDAQ · Hotels, Restaurants & Leisure · View on SEC EDGAR ↗
$29.25
Price · Aug 19, 2026
Fundamentals as of Jun 11, 2026
52W Range
$8–$30
97% of range
Analyst Rating
BUY
21 analysts
Price Target
$30
+2% upside
P/E (TTM)
-7.2
ROE
204117.9%
Net Profit Margin
-56.7%

About Navan, Inc. - Class A Common Stock Company overview from Wikipedia

Navan, Inc. is an American corporate travel and expense management company headquartered in Palo Alto, California. Founded in May 2015 by Ariel Cohen and Ilan Twig, Navan offers an integrated platform combining travel booking, corporate-issued payment cards, expense reporting, and analytics for businesses worldwide.

Read more

Navan, Inc. (formerly TripActions) is an American corporate travel and expense management company headquartered in Palo Alto, California. Founded in May 2015 by Ariel Cohen and Ilan Twig, Navan offers an integrated platform combining travel booking, corporate-issued payment cards, expense reporting, and analytics for businesses worldwide.

History

The Palo Alto, California–based travel company, TripActions Inc., was founded in May 2015 by Ariel Cohen and Ilan Twig (also the founders of StreamOnce, acquired by Jive Software).

In January 2016, TripActions received $14.6 million series A round led by Oren Zeev Ventures and Lightspeed Venture Partners with participation from Group 11. The company officially launched out of stealth mode and announced their funding in January 2017. In October 2017, the company announced that they had raised an additional $12.5 million led by Lightspeed Venture Partners with participation from Zeev Ventures and Group 11.

The company moved in June 2017 from Menlo Park, California, to its headquarters in Palo Alto.

In March 2018, the company announced a $51 million Series B round led by the same two investors with participation from prior investors.

In July 2018, TripActions announced its international expansion to Europe with an office in London and their European headquarters in Amsterdam. They shared potential plans to expand to the Asia-Pacific region to scale their customer support infrastructure.

In November 2018, the company announced a valuation north of $1 billion and a $154 million Series C funding round led by new investor Andreessen Horowitz, with participation from repeat investors Lightspeed Venture Partners, Zeev Ventures, and Group 11. Ben Horowitz joined the Board of Directors.

In February 2019, the company announced its new flight storefront in alignment with major airline partners and industry association ATPCO. The storefront includes branding and imagery of cabin classes and amenities for each airline. It works for domestic and international flights, including international-to-international itineraries, and for flights on joint venture partners of American, Delta and United.

In June 2019, TripActions raised a $250 million Series D funding round from Andreessen Horowitz, Zeev Ventures, Lightspeed Venture Partners and Group 11. The total valuation of the company reached $4 billion.

In November 2019, the company announced that it had enabled an NDC-enabled direct connection to the Lufthansa Group.

In February 2020, the company launched TripActions Liquid, a payment, expense and reconciliation technology integrated into its core platform. Alongside that announcement, the company announced the security of $500 million on credit to fuel the platform.

In June 2020, it raised $125 million in a financing led by Greenoaks, which allowed the company to continue investing in growth and product despite the significant impact of the COVID-19 pandemic.

In October 2020, it expanded the TripActions Liquid product by adding broader expense capabilities.

In January 2021, TripActions raised a $155 million Series E round of funding.

In October 2021, TripActions raised a $275 million Series F round of funding with a valuation near $7.25 billion. It reported having 1500 employees.

In February 2022, TripActions acquired Comtravo, a German corporate travel company with 2,500 clients and 250 employees.

In October 2022, the company raised a $300 million Series G round of funding with a valuation of $9.2 billion.

In February 2023, TripActions rebranded to Navan, bringing together its offerings into a travel and expense services app. The palindrome name Navan has roots in the words "navigate" and "avant" to mean "navigating forward".

In April 2023, Navan announced its agreement to acquire Tripeur, a Bangalore-based modern travel and expense management company, expanding Navan Group’s presence in India. The acquisition marked the fifth purchase in two years.

In December 2023, Navan laid off 5% of its workforce.

As rumors mounted in June 2024 that Navan was pursuing an IPO, they appointed former NYSE exec, Amy Butte, as their CFO.

On 21 October 2025, Navan formally announced their IPO offering nearly 37 million shares. The company went public on 30 October 2025 on the Nasdaq under the ticker NAVN. It reported revenues growing 30% year over year but remained unprofitable.

Partnerships

Users can access mobile apps for Uber and Lyft in their mobile travel itineraries while traveling.

Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗

Wikidata ↗

NAVN Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price
$29.25
Market Cap
$7.29B
P/E (TTM)
-7.2
EPS (TTM)
$-4.07
Revenue (TTM)
$702M
Div Yield
—
ROE
204117.9%
Debt/Equity
0.0
52W Range
$8 – $30

NAVN Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $702M
3-point trend, +74.6%
2024-01-31 → 2026-01-31
EPS $-4.07
3-point trend, +45.3%
2024-01-31 → 2026-01-31
Free Cash Flow $33M
2026-01-31 → 2026-01-31
Margins -56.7%
2026-01-31 → 2026-01-31

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric
5Y trend
NAVN
Peer Median
P/E (TTM)
-7.2
24.4
P/S (TTM)
10.4
3.0
P/B
6.0
7.6
EV / EBITDA
-47.9
—
Price / FCF
222.5
—

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
NAVN
Peer Median
Gross Margin
71.3%
53.4%
Operating Margin
-28.0%
—
Net Profit Margin
-56.7%
3.4%
ROA
-28.5%
2.5%
ROE
204117.9%
12.2%
ROIC
-16.4%
—

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
NAVN
Peer Median
Debt / Equity
0.0
—
Current Ratio
4.1
1.1
Quick Ratio
3.0
—

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
NAVN
Peer Median
Revenue YoY
3-point trend, +74.6%
30.8%
—

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
NAVN
Peer Median
EPS (Diluted)
3-point trend, +45.3%
$-4.07
—

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
NAVN
Peer Median

NAVN Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 21 analysts
  • Strong Buy 7 33.3%
  • Buy 13 61.9%
  • Hold 1 4.8%
  • Sell 0 0.0%
  • Strong Sell 0 0.0%

12-Month Price Target

15 analysts · 2026-08-19
Median target $30.00 +2.6%
Mean target $29.93 +2.3%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise
0.21%
Period EPS Actual EPS Est Surprise
March 31, 2027 $0.08 $-0.01 —
June 30, 2026 $0.08 $-0.01 0.09%
March 31, 2026 $0.02 $-0.12 0.14%
Dec. 31, 2025 $0.14 $-0.25 0.39%

Peer comparison (GICS sub-industry) Key metrics vs sector peers

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
NAVN $3.00B -3.0 30.8% -56.7% 204117.9% 71.3%
HLT $66.19B 46.9 7.7% 12.1% -32.0% —
EXPE $33.14B 28.9 7.6% 8.8% 91.1% —
CCL — 12.8 6.4% 10.4% 24.8% —
H — -291.5 6.8% -0.73% -1.5% —
NCLH $10.16B 24.3 3.7% 4.3% 22.4% —
WH — 30.2 1.5% 13.5% 37.2% —
CHH $4.38B 12.1 0.75% 23.2% 477.4% —
GBTG — 34.8 12.2% 4.1% 8.3% —
TNL $4.45B 20.5 4.1% 5.7% -24.7% —
VAC $1.97B -6.5 1.3% -6.1% -13.9% —

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 17
Annual Income Statement data for NAVN
Metric Trend 202620252024
Revenue 3-point trend, +74.6% $702M $537M $402M
Cost of Revenue 3-point trend, +24.1% $202M $170M $163M
Gross Profit 3-point trend, +108.8% $500M $367M $240M
R&D Expense 3-point trend, +14.2% $151M $122M $132M
SG&A Expense 3-point trend, +52.9% $203M $134M $133M
Operating Expenses 3-point trend, +43.5% $697M $475M $486M
Operating Income 3-point trend, +20.1% $-197M $-108M $-246M
Interest Income 3-point trend, +104.4% $9M $6M $5M
Other Non-op 3-point trend, -110.9% $-693.0K $-994.0K $6M
Pretax Income 3-point trend, -21.4% $-396M $-172M $-326M
Income Tax 3-point trend, -61.2% $2M $10M $5M
Net Income 3-point trend, -20.1% $-398M $-181M $-332M
EPS (Basic) 3-point trend, +45.3% $-4.07 $-4.00 $-7.44
EPS (Diluted) 3-point trend, +45.3% $-4.07 $-4.00 $-7.44
Shares (Basic) 3-point trend, +119.4% 97,795,703 45,271,666 44,583,919
Shares (Diluted) 3-point trend, +119.4% 97,795,703 45,271,666 44,583,919
EBITDA $-137M · ·
Balance Sheet 28
Annual Balance Sheet data for NAVN
Metric Trend 202620252024
Cash & Equivalents 3-point trend, +250.6% $584M $158M $166M
Short-term Investments 2-point trend, +156994000.00 $157M $0 ·
Receivables 2-point trend, +16.8% $216M $185M ·
Prepaid Expense 2-point trend, +55.0% $55M $36M ·
Other Current Assets 2-point trend, +94.6% $17M $9M ·
Current Assets 2-point trend, +89.7% $1.31B $689M ·
PP&E (Net) 2-point trend, +18.6% $35M $30M ·
PP&E (Gross) 2-point trend, +11.0% $65M $59M ·
Accum. Depreciation 2-point trend, +3.4% $30M $29M ·
Goodwill 3-point trend, +9.4% $241M $220M $221M
Intangibles 2-point trend, -65.4% $19M $56M ·
Other Non-current Assets 2-point trend, +34.8% $29M $21M ·
Total Assets 2-point trend, +57.6% $1.71B $1.08B ·
Accounts Payable 2-point trend, +54.0% $66M $43M ·
Accrued Liabilities 2-point trend, -5.5% $26M $27M ·
Short-term Debt 2-point trend, -99.7% $584.0K $176M ·
Current Liabilities 2-point trend, -28.0% $321M $446M ·
Capital Leases 2-point trend, -12.8% $38M $43M ·
Other Non-current Liabilities 2-point trend, -21.7% $18M $23M ·
Total Liabilities 2-point trend, -48.4% $501M $970M ·
Long-term Debt 2-point trend, -79.8% $125M $618M ·
Total Debt $584.0K · ·
Paid-in Capital 2-point trend, +589.7% $3.23B $468M ·
Retained Earnings 2-point trend, -24.6% $-2.02B $-1.62B ·
AOCI 2-point trend, +91.4% $-3M $-38M ·
Stockholders' Equity 3-point trend, +211.7% $1.21B $-1.19B $-1.08B
Liabilities + Equity 2-point trend, +57.6% $1.71B $1.08B ·
Shares Outstanding 3-point trend, +452.3% 249,174,777 45,782,871 45,117,008
Cash Flow 13
Annual Cash Flow data for NAVN
Metric Trend 202620252024
D&A 3-point trend, +124.3% $60M $25M $27M
Stock-based Comp 3-point trend, +140.1% $182M $77M $76M
Deferred Tax 3-point trend, -250.7% $-11M $1.0K $-3M
Amort. of Intangibles $36M · ·
Other Non-cash $201M · ·
Operating Cash Flow 3-point trend, +120.2% $34M $-50M $-166M
CapEx 3-point trend, +63.5% $917.0K $994.0K $561.0K
Investing Cash Flow 3-point trend, -86.6% $-203M $45M $-109M
Debt Issued 3-point trend, +4.9% $216M $86M $206M
Net Debt Issued $216M · ·
Financing Cash Flow 3-point trend, +144.5% $520M $53M $213M
Net Change in Cash 3-point trend, +668.0% $357M $43M $-63M
Free Cash Flow $33M · ·
Profitability 8
Annual Profitability data for NAVN
Metric Trend 202620252024
Gross Margin 71.3% · ·
Operating Margin -28.0% · ·
Net Margin -56.7% · ·
Pretax Margin -56.4% · ·
EBITDA Margin -19.5% · ·
ROA -28.5% · ·
ROE 204117.9% · ·
ROIC -16.4% · ·
Liquidity & Solvency 3
Annual Liquidity & Solvency data for NAVN
Metric Trend 202620252024
Current Ratio 4.1 · ·
Quick Ratio 3.0 · ·
Debt / Equity 0.0 · ·
Efficiency 2
Annual Efficiency data for NAVN
Metric Trend 202620252024
Asset Turnover 0.5 · ·
Receivables Turnover 3.5 · ·
Per Share 5
Annual Per Share data for NAVN
Metric Trend 202620252024
Book Value / Share $4.85 · ·
Revenue / Share $7.18 · ·
Cash Flow / Share $0.34 · ·
Cash / Share $2.34 · ·
EPS (TTM) $-4.07 · ·
Growth Rates 1
Annual Growth Rates data for NAVN
Metric Trend 202620252024
Revenue YoY 2-point trend, -7.9% 30.8% 33.5% ·
Valuation (TTM) 14
Annual Valuation (TTM) data for NAVN
Metric Trend 202620252024
Revenue TTM $702M · ·
Net Income TTM $-398M · ·
Market Cap $3.00B · ·
Enterprise Value $2.26B · ·
P/E -3.0 · ·
P/S 4.3 · ·
P/B 2.5 · ·
P / Tangible Book 3.2 · ·
P / Cash Flow 89.1 · ·
P / FCF 91.6 · ·
EV / EBITDA -16.5 · ·
EV / FCF 69.0 · ·
EV / Revenue 3.2 · ·
Earnings Yield -33.8% · ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement
2026-01-312025-01-312024-01-31
Revenue $702M$537M$402M
Gross Margin % 71.3%——
Operating Margin % -28.0%——
Net Income $-398M$-181M$-332M
Diluted EPS $-4.07$-4.00$-7.44
Balance Sheet
2026-01-312025-01-312024-01-31
Debt / Equity 0.0——
Current Ratio 4.1——
Quick Ratio 3.0——
Cash Flow
2026-01-312025-01-312024-01-31
Free Cash Flow $33M——

Latest News Recent headlines mentioning this company

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Institutional owners (13F) 219 filers · $3.5B total · As of June 30, 2026

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
102 (+35 vs prior Q) 32 (+5 vs prior Q) 62 (+29 vs prior Q) 32 (-1 vs prior Q) +13.0M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
LIGHTSPEED MANAGEMENT COMPANY, L.L.C. $953,639,160 41,698,258 27.64% Shares
a16z Capital Management, L.L.C. $645,361,120 28,218,676 18.70% Shares
COSMIC MANAGEMENT, LLC $163,263,647 7,138,769 4.73% Shares
Napean Trading & Investment Co (Singapore) PTE Ltd $134,344,258 5,874,257 3.89% Shares
BIT Capital GmbH $119,168,709 5,210,700 3.45% Shares
MILLENNIUM MANAGEMENT LLC $98,283,436 4,297,483 2.85% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $91,018,872 3,979,837 2.64% Shares
Capital International Investors $82,347,872 3,600,694 2.39% Shares
VANGUARD CAPITAL MANAGEMENT LLC $72,318,485 3,162,155 2.10% Shares
FULLER & THALER ASSET MANAGEMENT, INC. $55,600,906 2,431,172 1.61% Shares
Schonfeld Strategic Advisors LLC $54,662,843 2,390,155 1.58% Shares
VANGUARD GROUP INC $52,324,392 3,063,489 1.52% Shares
ALKEON CAPITAL MANAGEMENT LLC $49,977,308 2,185,278 1.45% Shares
WELLINGTON MANAGEMENT GROUP LLP $49,456,466 2,162,504 1.43% Shares
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND $46,262,419 2,022,843 1.34% Shares
BANK OF AMERICA CORP /DE/ $45,898,420 2,006,927 1.33% Shares
GEODE CAPITAL MANAGEMENT, LLC $41,383,030 1,809,230 1.20% Shares
STATE STREET CORP $40,311,188 1,762,623 1.17% Shares
Walleye Capital LLC $35,861,601 1,568,063 1.04% Shares
ALLIANCEBERNSTEIN L.P. $31,490,638 2,378,447 0.91% Shares
BNP PARIBAS FINANCIAL MARKETS $30,770,693 1,345,461 0.89% Shares
AMERIPRISE FINANCIAL INC $27,727,016 1,212,375 0.80% Shares
FMR LLC $24,923,772 1,089,802 0.72% Shares
GREENOAKS LLC $23,098,700 1,010,000 0.67% Shares
VOLORIDGE INVESTMENT MANAGEMENT, LLC $21,082,778 921,853 0.61% Shares
UNITED CAPITAL FINANCIAL ADVISORS, LLC $18,991,088 830,393 0.55% Shares
NORGES BANK $18,897,687 826,309 0.55% Shares
OCCUDO QUANTITATIVE STRATEGIES LP $18,159,283 794,022 0.53% Shares
E20 Capital Ltd $17,087,000 747,136 0.50% Shares
FRANKLIN RESOURCES INC $16,352,885 715,037 0.47% Shares
G2 Investment Partners Management LLC $15,842,484 692,719 0.46% Shares
FEDERATED HERMES, INC. $15,005,739 656,132 0.43% Shares
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP $14,285,242 624,628 0.41% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $11,802,224 516,057 0.34% Shares
TEACHER RETIREMENT SYSTEM OF TEXAS $11,435,000 500,000 0.33% Shares
PRINCIPAL FINANCIAL GROUP INC $10,579,138 462,577 0.31% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $9,948,450 435,000 0.29% Call option
PRUDENTIAL FINANCIAL INC $9,862,550 431,244 0.29% Shares
TWO SIGMA INVESTMENTS, LP $9,565,721 418,265 0.28% Shares
Meridiem Capital Partners LP $9,180,109 401,404 0.27% Shares
GOLDMAN SACHS GROUP INC $9,024,776 394,612 0.26% Shares
PB INVESTMENT PARTNERS, L.P. $8,618,788 376,860 0.25% Shares
NOMURA ASSET MANAGEMENT INTERNATIONAL INC. $8,559,000 374,249 0.25% Shares
VANGUARD FIDUCIARY TRUST CO $8,504,210 371,850 0.25% Shares
OSTERWEIS CAPITAL MANAGEMENT INC $7,721,827 337,640 0.22% Shares
BARCLAYS PLC $7,473,276 326,772 0.22% Shares
Jump Financial, LLC $6,909,027 302,100 0.20% Shares
Electric Capital Partners, LLC $6,683,895 292,256 0.19% Shares
Universal- Beteiligungs- und Servicegesellschaft mbH $6,502,924 284,343 0.19% Shares
Verition Fund Management LLC $6,449,340 282,000 0.19% Shares
CITADEL ADVISORS LLC $6,416,293 280,555 0.19% Shares
StepStone Group LP $6,406,849 483,901 0.19% Shares
Roubaix Capital, LLC $6,080,836 265,887 0.18% Shares
Pier Capital, LLC $6,052,843 264,663 0.18% Shares
JANE STREET GROUP, LLC $6,035,782 263,917 0.17% Shares
Balyasny Asset Management L.P. $5,947,938 260,076 0.17% Shares
Aquatic Capital Management LLC $5,534,014 241,977 0.16% Shares
CITADEL ADVISORS LLC $5,109,158 223,400 0.15% Put option
Voleon Capital Management LP $4,649,288 203,292 0.13% Shares
Rockingstone Advisors LLC $4,611,736 201,650 0.13% Shares
ARDSLEY ADVISORY PARTNERS LP $4,574,000 200,000 0.13% Shares
Lunate Capital Ltd $4,574,000 200,000 0.13% Shares
JPMORGAN CHASE & CO $4,055,927 166,564 0.12% Shares
Point72 Asset Management, L.P. $3,917,105 171,277 0.11% Shares
Trexquant Investment LP $3,628,669 158,665 0.11% Shares
CITADEL ADVISORS LLC $3,627,182 158,600 0.11% Call option
Sonoma Private Wealth LLC $3,345,790 146,296 0.10% Shares
Ibex Investors LLC $3,343,777 146,208 0.10% Shares
Quantinno Capital Management LP $3,179,525 139,026 0.09% Shares
BOOTHBAY FUND MANAGEMENT, LLC $3,162,921 138,300 0.09% Shares
RENAISSANCE TECHNOLOGIES LLC $2,874,759 125,700 0.08% Shares
RHUMBLINE ADVISERS $2,790,384 122,011 0.08% Shares
Lisanti Capital Growth, LLC $2,746,115 120,075 0.08% Shares
ANTIPODES PARTNERS Ltd $2,627,946 114,908 0.08% Shares
Quantbot Technologies LP $2,541,909 111,146 0.07% Shares
Board of Trustees of The Leland Stanford Junior University $2,528,370 110,554 0.07% Shares
State of Tennessee, Department of Treasury $2,475,678 108,250 0.07% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $2,337,314 102,200 0.07% Put option
WELLS FARGO & COMPANY/MN $2,240,391 97,962 0.06% Shares
BlackRock, Inc. $2,021,822 88,405 0.06% Shares
VICTORY CAPITAL MANAGEMENT INC $1,899,903 83,074 0.06% Shares
Qube Research & Technologies Ltd $1,859,034 81,287 0.05% Shares
Persistent Asset Partners Ltd $1,825,987 79,842 0.05% Shares
JANE STREET GROUP, LLC $1,804,443 78,900 0.05% Call option
LOCKHEED MARTIN INVESTMENT MANAGEMENT CO $1,682,226 73,556 0.05% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $1,641,494 71,775 0.05% Shares
WILSON ASSET MANAGEMENT (INTERNATIONAL) PTY LTD $1,600,900 70,000 0.05% Shares
FIRST TRUST ADVISORS LP $1,580,888 69,125 0.05% Shares
Nuveen, LLC $1,452,291 63,502 0.04% Shares
MetLife Investment Management, LLC $1,397,586 61,110 0.04% Shares
Toroso Investments, LLC $1,361,840 79,733 0.04% Shares
CANADA PENSION PLAN INVESTMENT BOARD $1,317,312 57,600 0.04% Shares
Corient Private Wealth LP $1,304,315 57,040 0.04% Shares
FIL Ltd $1,257,850 55,000 0.04% Shares
MANUFACTURERS LIFE INSURANCE COMPANY, THE $1,210,806 52,943 0.04% Shares
CITIZENS FINANCIAL GROUP INC/RI $1,170,784 51,193 0.03% Shares
Jasper Ridge Partners, L.P. $1,103,683 48,259 0.03% Shares
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. $1,098,904 48,050 0.03% Shares
FIFTH THIRD BANCORP $1,091,539 47,728 0.03% Shares
CenterBook Partners LP $1,048,086 45,828 0.03% Shares

Company insiders 11 insiders · 3 officers · 9 directors

Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Ariel M. Cohen Chairperson and CEO June 22, 2026 S 1,254,731 0 1 $-874,622
Michael Eric Sindicich President June 22, 2026 S 548,318 0 2 $-1,079,441
Ilan Ezra Twig Chief Technology Officer June 22, 2026 S 805,860 0 1 $-520,730
Clara Liang Director June 25, 2026 A 9,959 0 0 $0
Arif Janmohamed Director June 25, 2026 A 9,959 0 8 $-49,960,710
Sandesh Kaveripatnam Director June 25, 2026 A 45,811 0 0 $0
Shai Weiss Director June 25, 2026 A 37,312 0 0 $0
Anre D Williams Director June 25, 2026 A 225,617 2 0 $2,472,000
Benjamin A. Horowitz Director June 25, 2026 A 10,971 12 0 $42,853,974
KOUREY MICHAEL R Director June 25, 2026 A 253,253 0 0 $0
Amy S Butte — Oct. 29, 2025 A 794,065 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 29 ETFs

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
TRFM · ETF Series Solutions 0.32% 28,711 NS April 30, 2026 N-PORT
BKSE · BNY Mellon ETF Trust 0.06% 2,591 NS April 30, 2026 N-PORT
BBSC · J.P. Morgan Exchange-Traded Fund Tr… 0.03% 14,327 NS April 30, 2026 N-PORT
ITWO · ProShares Trust 0.02% 1,761 NS May 31, 2026 N-PORT
RSSL · Global X Funds 0.02% 16,244 NS April 30, 2026 N-PORT
SCHA · SCHWAB STRATEGIC TRUST 0.02% 176,827 NS May 31, 2026 N-PORT
ONEQ · Fidelity Commonwealth Trust 0.01% 68,210 NS May 31, 2026 N-PORT
UWM · ProShares Trust 0.01% 1,377 NS May 31, 2026 N-PORT
URTY · ProShares Trust 0.01% 1,394 NS May 31, 2026 N-PORT
MSSM · MORGAN STANLEY PATHWAY FUNDS 0.01% 2,099 NS May 31, 2026 N-PORT
FDIS · FIDELITY COVINGTON TRUST 0.00% 4,970 NS April 30, 2026 N-PORT
HDG · ProShares Trust 0.00% 35 NS May 31, 2026 N-PORT
SCHB · SCHWAB STRATEGIC TRUST 0.00% 24,641 NS May 31, 2026 N-PORT
VXF · VANGUARD INDEX FUNDS — — July 15, 2026 Daily
VB · VANGUARD INDEX FUNDS — — July 15, 2026 Daily
VBR · VANGUARD INDEX FUNDS — — July 15, 2026 Daily
VTI · VANGUARD INDEX FUNDS — — July 15, 2026 Daily
VTWO · VANGUARD SCOTTSDALE FUNDS — — July 15, 2026 Daily
VTWG · VANGUARD SCOTTSDALE FUNDS — — July 15, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS — — July 15, 2026 Daily
ITOT · iShares Trust — — Aug. 5, 2026 Daily
IWV · iShares Trust — — Aug. 18, 2026 Daily
IWO · iShares Trust — — Aug. 18, 2026 Daily
IWM · iShares Trust — — Aug. 18, 2026 Daily
ISCB · iShares Trust — — Aug. 5, 2026 Daily
ISCG · iShares Trust — — Aug. 5, 2026 Daily
ISCV · iShares Trust — — Aug. 5, 2026 Daily
SMLF · iShares Trust — — Aug. 10, 2026 Daily
TECB · iShares Trust — — Aug. 5, 2026 Daily