$REFR

$0.44 +$0.02 (4.54%) Close

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

Ownership

13F as of Q2 2026 · 34.9M shares outstanding

Who owns REFR?

By type of holder

Institutions 10.1% Everyone else 89.9%

No insider has reported a holding in the last two years, so insiders are counted in "Everyone else".

Concentration Top 10 holders own 9.4%

Mgo One Seven LLC 2.5% · BlackRock, Inc. 1.5%

Institutional ownership

10.1%

-0.9 pts vs last qtr

Institutional holders

-2 vs last qtr

Net shares bought

−304.2K

by institutions in Q2 2026

New / sold out

4 / 6

positions opened vs closed

How is ownership changing?

Institutions, last 8 quarters

Biggest buyers in Q2 2026

TCTC Holdings, LLC NEW +20.0K
CGN Advisors LLC NEW +14.4K

Biggest sellers in Q2 2026

Susquehanna International Group, LLP SOLD OUT −156.8K
BlackRock, Inc. −75.9K

Who is planning to sell?

No insider has filed a notice of proposed sale (Form 144) for Research Frontiers Inc in the last 12 months.

Is your stake being diluted?

Diluted share count, FY2022–FY2025

+4.9%

+1.61% a year

Each share's claim on the business

−4.7%

shrank without buying or selling a share

Spent on buybacks vs paid in stock

— vs $841K

over 4 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+ years54% 3–5 years2% 1–3 years41% Under 1 year3%

Quarterly turnover

5.4%

of institutional shares changed hands

Top 10 managers, median time held

5 years

Super Investors

Investment managers reporting REFR on Form 13F

Holder	Shares	% of company	Change vs last qtr	Held since	% of their book
MO Mgo One Seven LLC	886.6K	2.54%	−31.6K (−3.4%)	2025	0.0%
Shares held by quarter Peak holding991.5K (Q3'25) Change over 8 quarters+886.6K Share of the company2.540% Mgo One Seven LLC's full portfolio →
B BlackRock, Inc.	532.5K	1.53%	−75.9K (−12.5%)	≤2021	0.0%
Shares held by quarter Peak holding609.9K (Q4'24) Change over 8 quarters−75.9K Share of the company1.530% BlackRock, Inc.'s full portfolio →

Mgo One Seven LLC

886.6K

% of company

2.54%

Change vs last qtr

−31.6K (−3.4%)

Held since

2025

BlackRock, Inc.

532.5K

% of company

1.53%

Change vs last qtr

−75.9K (−12.5%)

Held since

≤2021

28 more super investors behind a free account

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

Institutional Funds

Mutual funds and ETFs reporting REFR on Form N-PORT; together they hold 2.6% of the company

Fund	Position value	Shares	% of company	% of the fund	As of
VT Vanguard Total Stock Market Index Fund Vanguard Index Funds	$150K	288.6K	0.83%	0.00%	June 30, 2026
VE Vanguard Extended Market Index Fund Vanguard Index Funds	$147K	282.6K	0.81%	0.00%	June 30, 2026

Vanguard Total Stock Market Index Fund

Vanguard Index Funds

Position value

$150K

% of company

0.83%

% of the fund

0.00%

As of

June 30, 2026

Vanguard Extended Market Index Fund

Vanguard Index Funds

Position value

$147K

% of company

0.81%

% of the fund

0.00%

As of

June 30, 2026

7 more funds behind a free account

See every fund holding Research Frontiers Inc and how much of the fund the position is.

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