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$LAW
$5.04 +$0.04 (0.8%) Close

Ownership

13F as of Q2 2026 · 64.9M shares outstanding

Who owns LAW?

By type of holder
Institutions 54.4% Insiders 31.8% Everyone else 13.8%
Concentration Top 10 holders own 52.0%
Deer Management Co. LLC 13.3% · Srinivasan Krishna 12.5%
Institutional ownership
54.4%
-0.5 pts vs last qtr
Institutional holders
117
-5 vs last qtr
Net shares bought
−298.3K
by institutions in Q2 2026
New / sold out
16 / 21
positions opened vs closed

How is ownership changing?

Institutions, last 8 quarters

Biggest buyers in Q2 2026
  • Norges Bank NEW +547.9K
  • BlackRock, Inc. +280.7K

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Biggest sellers in Q2 2026
  • Topline Capital Management, LLC −1.2M
  • ArrowMark Colorado Holdings LLC SOLD OUT −597.0K

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Who is planning to sell?

Notices of proposed sale, last 12 months
$812K
20 notices from 6 people
Shares covered
173.4K
0.27% of the company
Arranged in advance
0%
of the value is under a 10b5-1 plan
Under a 10b5-1 plan No plan
$0$145.1K$290.1KNov 2025: $290.1K without a planNovDec 2025: $174.1K without a planDecJanFeb 2026: $147.4K without a planFebMar 2026: $85.8K without a planMarAprMay 2026: $114.3K without a planMayJunJulAugSepOct
Largest proposed sellers
  • Michael Lafair Other $179K
  • Melanie Antoon Officer $174K

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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, FY2020–FY2025
+368.6%
+36.20% a year
Each share's claim on the business
−78.7%
shrank without buying or selling a share
Spent on buybacks vs paid in stock
$1.2M vs $92.2M
over 6 fiscal years
Diluted shares, split-adjusted
12.8M37.6M62.3M2020: 13.2M shares'202021: 33.2M shares'212022: 58.8M shares'222023: 60.1M shares'232024: 60.2M shares'242025: 61.7M shares'25
Buybacks Stock-based comp
$0$12.2M$24.5M2020 buybacks: $138.0K2020 stock comp: $2.0M'202021 buybacks: $476.0K2021 stock comp: $5.6M'212022 buybacks: $264.0K2022 stock comp: $21.7M'222023 buybacks: $89.0K2023 stock comp: $16.2M'232024 buybacks: $127.0K2024 stock comp: $22.3M'242025 buybacks: $105.0K2025 stock comp: $24.5M'25

How patient are the owners?

Institutional shares by how long they've been held
5+ years0% 3–5 years77% 1–3 years18% Under 1 year5%
Quarterly turnover
9.4%
of institutional shares changed hands
Top 10 managers, median time held
4.5 years

Super Investors

Investment managers reporting LAW on Form 13F
DM
Deer Management Co. LLC
Shares
8.7M
% of company
13.33%
Change vs last qtr
Unchanged
Held since
2021
SG
Stephens Group, LLC
Shares
7.8M
% of company
12.01%
Change vs last qtr
Unchanged
Held since
2021

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Institutional Funds

Mutual funds and ETFs reporting LAW on Form N-PORT; together they hold 9.1% of the company
VT
Position value
$2.87M
% of company
1.17%
% of the fund
0.00%
As of
June 30, 2026
IR
iShares Trust
Position value
$2.84M
% of company
1.16%
% of the fund
0.00%
As of
June 30, 2026

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Insiders and 5%+ holders

From Forms 3/4/5 and Schedules 13D/G
SK
Srinivasan Krishna
Insider
Shares
8.1M
% of company
12.54%
Change vs last qtr
—
Held since
—
FE
Friedrichsen Eric
Insider
Shares
1.4M
% of company
2.21%
Change vs last qtr
—
Held since
—

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