Which funds own FRMI
Fermi Inc in the Q2 2026 filings. At least 2 of the 91 current managers on file reported a position, worth $51m between them. It is among the largest positions of fewer than a fifth of the current managers on file. Buying and selling roughly cancelled this quarter, which is what a name looks like when the argument is still live.
- Managers holding
- 2
- at least, of 91 current
- Combined value
- $51m
- as reported
- Opened
- 1
- new this quarter
- Added to
- 1
- already held
- Trimmed or sold out
- 1
- 1 sold out entirely
Only each manager’s largest 200 positions are listed here, so a smaller holder may be missing.
Managers reporting a position
Largest first. Weight is the share of that manager’s whole reported book, which is the number worth quoting: $400m is a rounding error in one book and a defining bet in another.
| Manager | Value | Weight | Shares | Change on the quarter | Action |
|---|---|---|---|---|---|
| ExodusPoint Capital Management LP Multi-strategy · $15.5bn book | $37m | 0.2% | 4,068,302 | +$37m+4,037,542 | Added |
| Steadfast Capital Management LP Long/short equity · $3.3bn book | $13m | 0.4% | 1,447,600 | opened1,447,600 | New |
Sold out of this quarter
Valued at what the position was worth in the previous filing, because by this one it is gone.
- Soros Fund Management LLC · Macro$100k held before
Ownership through time
At least 8 of the 95 managers whose filings are on file listed FRMI in Q2 2026, against 3 in Q4 2025. 5 managers more than in Q1 2026: 2 started positions; 4 listed it again; 1 sold out, by its own filing.
Each manager’s largest 500 positions a quarter are read, so a small holding in a very large book can be missing, and a manager is counted as leaving only where its own filing shows it.
- Q4 2025: 3
- Q1 2026: 3
- Q2 2026: 8
- Q4 2025: $19m
- Q1 2026: $10m
- Q2 2026: $181m
Between the quarter ends of Q1 2026 and Q2 2026. Each change in shares is valued at the Q2 2026 price, so the price’s own move is left out; a 13F shows the two quarter ends, not when in between anything was bought or sold.
Started in Q2 2026
Largest increases, by shares
- Steadfast Capital Management LPnew: 1,447,600 shares+$13m
- Moore Capital Management LPnew: 427,606 shares+$3.9m
- Schonfeld Strategic Advisors LLC1,500,000 to 1,574,276 shares+$680k
Largest decreases, by shares
- Winton Group Ltd243,012 to 130,215 shares-$1.0m
Left it
- Soros Fund Management LLCwas $92k
| Manager | Value over time | First listed | Largest | Q2 2026 |
|---|---|---|---|---|
| Point72 Asset Management LP | Q2 2026 | $64m | $64m | |
| Marshall Wace LLP | Q2 2026 | $38m | $38m | |
| ExodusPoint Capital Management LP | Q2 2026 | $37m | $37m | |
| Schonfeld Strategic Advisors LLC | Q4 2025 | $14m | $14m | |
| Steadfast Capital Management LP | Q2 2026 | $13m | $13m | |
| Verition Fund Management LLC | Q4 2025 | $13m | $8.0m | |
| Moore Capital Management LP | Q2 2026 | $3.9m | $3.9m | |
| Winton Group Ltd | Q1 2026 | $1.4m | $1.2m | |
| Soros Fund Management LLC | Q4 2025 | $484k | last listed Q1 2026 |
Reported as options rather than shares
A put or a call on a name is not a position in it, and the filing states the notional rather than what the option cost. These lines are listed apart for that reason and are not counted in anything above.
- ExodusPoint Capital Management LP · calls$26m notional
What FRMI is worth
Knowing who owns it is half the question. The other half is what it is worth against the companies it trades beside, which is the one an interviewer will follow up with.
Build the comp set around FRMI →How much of the picture this is
A Form 13F reports US-listed long equity and nothing else: no shorts, no bonds, no cash and no non-US listings. It arrives forty-five days after the quarter ends, so a manager who sold in July still shows the position in a filing published in August. This page reads the managers on file here rather than every filer in the market, and each manager’s largest positions rather than the whole table, so a small position in a very large book may not appear. Say “their last filing showed” rather than “they own”, and the distinction will do you credit.
What to do with a name the funds are buying
Knowing who owns something is the start of a pitch, not the pitch. The next questions are what it is worth and why they were buying.
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The holdings, every quarter, and the week between
One email a week on what moved in the market and what it means for the people interviewing into it, with the 13F changes the quarter they are filed.
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