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$PATH
$14.06 -$0.24 (1.68%) Live

Ownership

13F as of Q2 2026 · 519.7M shares outstanding

Who owns PATH?

By type of holder
Institutions 69.3% Insiders 0.2% Everyone else 30.5%
Concentration Top 10 holders own 36.6%
BlackRock, Inc. 8.9% · Tetragon Partners GP Ltd 6.0%
Institutional ownership
69.3%
+8.8 pts vs last qtr
Institutional holders
529
-8 vs last qtr
Net shares bought
+45.5M
by institutions in Q2 2026
New / sold out
92 / 100
positions opened vs closed

How is ownership changing?

Institutions, last 8 quarters

Biggest buyers in Q2 2026
  • Two Sigma Investments, LP +11.5M
  • Tetragon Partners GP Ltd +5.7M

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Biggest sellers in Q2 2026
  • Jane Street Group, LLC −5.0M
  • Canada Pension Plan Investment Board −1.7M

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Who is planning to sell?

Notices of proposed sale, last 12 months
$93.8M
14 notices from 6 people
Shares covered
6.5M
1.25% of the company
Arranged in advance
100%
of the value is under a 10b5-1 plan
Under a 10b5-1 plan No plan
$0$17.3M$34.7MNovDec 2025: $16.6M under a 10b5-1 planDecJan 2026: $15.9M under a 10b5-1 planJanFebMarAprMayJunJulAug 2026: $23.1M under a 10b5-1 planAugSep 2026: $3.6M under a 10b5-1 planSepOct 2026: $34.7M under a 10b5-1 planOct
Largest proposed sellers
  • Icevulcan Investments Limited Director 10b5-1 $85.4M
  • Raghavendra Malpani Officer 10b5-1 $2.77M

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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, FY2022–FY2026
+19.8%
+4.63% a year
Each share's claim on the business
−16.6%
shrank without buying or selling a share
Spent on buybacks vs paid in stock
$822M vs $1.91B
over 5 fiscal years
Diluted shares, split-adjusted
441.0M505.2M569.5M2022: 454.6M shares'222023: 548.0M shares'232024: 563.9M shares'242025: 559.9M shares'252026: 544.9M shares'26
Buybacks Stock-based comp
$0$257.8M$515.6M2022 buybacks: $02022 stock comp: $515.6M'222023 buybacks: $02023 stock comp: $369.8M'232024 buybacks: $102.6M2024 stock comp: $372.0M'242025 buybacks: $390.8M2025 stock comp: $358.2M'252026 buybacks: $329.1M2026 stock comp: $290.7M'26

How patient are the owners?

Institutional shares by how long they've been held
5+ years43% 3–5 years38% 1–3 years9% Under 1 year9%
Quarterly turnover
15.8%
of institutional shares changed hands
Top 10 managers, median time held
5 years

Super Investors

Investment managers reporting PATH on Form 13F
B
BlackRock, Inc.
Shares
46.2M
% of company
8.88%
Change vs last qtr
+3.1M (+7.2%)
Held since
≤2021
TP
Tetragon Partners GP Ltd
Shares
31.0M
% of company
5.96%
Change vs last qtr
+5.7M (+22.8%)
Held since
2022

28 more super investors behind a free account

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Institutional Funds

Mutual funds and ETFs reporting PATH on Form N-PORT; together they hold 24.2% of the company
IC
Position value
$159M
% of company
2.81%
% of the fund
0.13%
As of
June 30, 2026
VT
Position value
$142M
% of company
2.51%
% of the fund
0.01%
As of
June 30, 2026

23 more funds behind a free account

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Insiders and 5%+ holders

From Forms 3/4/5 and Schedules 13D/G
GA
Gupta Ashim
Insider
Shares
572.0K
% of company
0.11%
Change vs last qtr
—
Held since
—
RH
Ramani Hitesh
Insider
Shares
449.6K
% of company
0.09%
Change vs last qtr
—
Held since
—

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