$CARL

$15.42 +$0.51 (3.42%) Close

$CARL Overview Financial Statements SEC Filings Executives News Red Flags Capital Raising Ownership Insider Transactions Congressional Trades

Ownership

13F as of Q2 2026 · 27.3M shares outstanding

Who owns CARL?

By type of holder

Institutions 20.9% Insiders 52.2% Everyone else 26.9%

Concentration Top 10 holders own 31.4%

Root Jonathan D 5.9% · Cordonnier Michael 5.7%

Institutional ownership

20.9%

+1.5 pts vs last qtr

Institutional holders

+7 vs last qtr

Net shares bought

+401.9K

by institutions in Q2 2026

New / sold out

22 / 15

positions opened vs closed

How is ownership changing?

Institutions, last 8 quarters

Biggest buyers in Q2 2026

Jupiter Topco LLC NEW +1.3M
Pier Capital, LLC NEW +373.7K

Biggest sellers in Q2 2026

Orbimed Advisors LLC SOLD OUT −1.3M
Janus Henderson Group PLC SOLD OUT −1.2M

Who is planning to sell?

Notices of proposed sale, last 12 months

$2.7M

4 notices from 3 people

Shares covered

203.0K

0.74% of the company

Arranged in advance

of the value is under a 10b5-1 plan

Under a 10b5-1 plan No plan

Largest proposed sellers

Cordonnier Michael Officer $2.63M
Greenstein Leonard M. Former officer $57.9K

Every notice on Red Flags →

A Form 144 is notice of a planned sale, not the sale itself. What insiders actually sold is on Insider Transactions.

Is your stake being diluted?

Diluted share count, FY2024–FY2025

+249.7%

+249.74% a year

Each share's claim on the business

−71.4%

shrank without buying or selling a share

Spent on buybacks vs paid in stock

— vs $2.18M

over 2 fiscal years

Diluted shares, split-adjusted

Buybacks Stock-based comp

How patient are the owners?

Institutional shares by how long they've been held

5+ years0% 3–5 years0% 1–3 years0% Under 1 year100%

Quarterly turnover

56.1%

of institutional shares changed hands

Top 10 managers, median time held

1 quarter

Super Investors

Investment managers reporting CARL on Form 13F

Holder	Shares	% of company	Change vs last qtr	Held since	% of their book
OA Orbimed Advisors LLC	—	—	SOLD OUT	—	0.0%
Shares held by quarter Peak holding1.3M (Q3'25) Change over 8 quarters0 Orbimed Advisors LLC's full portfolio →
JT Jupiter Topco LLC	1.3M	4.58%	NEW	Q2 '26	0.0%
Shares held by quarter Peak holding1.3M (Q2'26) Change over 8 quarters+1.3M Share of the company4.580% Jupiter Topco LLC's full portfolio →

Orbimed Advisors LLC

—

% of company

—

Change vs last qtr

SOLD OUT

Held since

—

Jupiter Topco LLC

1.3M

% of company

4.58%

Change vs last qtr

NEW

Held since

Q2 '26

28 more super investors behind a free account

See every manager holding Carlsmed, Inc., how their position has changed, and how long they've held it.

Institutional Funds

Mutual funds and ETFs reporting CARL on Form N-PORT; together they hold 8.3% of the company

Fund	Position value	Shares	% of company	% of the fund	As of
JH Janus Henderson Venture Fund Janus Investment Fund	$6.32M	609.1K	2.23%	0.17%	June 30, 2026
JH Janus Henderson Small Cap Value Fund Janus Investment Fund	$3.57M	343.6K	1.26%	0.28%	June 30, 2026

Janus Henderson Venture Fund

Janus Investment Fund

Position value

$6.32M

% of company

2.23%

% of the fund

0.17%

As of

June 30, 2026

Janus Henderson Small Cap Value Fund

Janus Investment Fund

Position value

$3.57M

% of company

1.26%

% of the fund

0.28%

As of

June 30, 2026

23 more funds behind a free account

See every fund holding Carlsmed, Inc. and how much of the fund the position is.

Insiders and 5%+ holders

From Forms 3/4/5 and Schedules 13D/G

Holder	Shares	% of company	Change vs last qtr	8 quarters	Held since	% of their book
RJ Root Jonathan D Insider	1.6M	5.92%	—	—	—	—
Insider holdings come from Form 3/4/5 filings, which are not quarterly. Share of the company5.920% Root Jonathan D's insider activity →
CM Cordonnier Michael Insider	1.6M	5.68%	—	—	—	—
Insider holdings come from Form 3/4/5 filings, which are not quarterly. Share of the company5.680% Cordonnier Michael's insider activity →

Root Jonathan D

Insider

1.6M

% of company

5.92%

Change vs last qtr

—

Held since

—

Cordonnier Michael

Insider

1.6M

% of company

5.68%

Change vs last qtr

—

Held since

—

10 more holders behind a free account

See every insider and 5%+ holder of Carlsmed, Inc..

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