NasdaqReal EstateReal Estate Investment TrustsDALLAS, TX

Fermi Inc. FRMI

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Estimated market cap $1.69B646.95M shares, shares as of Nov 5, 2026CIK 2071778

Insider trades, 12 mo

0 buys · 16 sells

$89.41M sold, open market

Congress trades, 24 mo

—

No disclosed trades

13F holders, Q3 2026

223

18.5% of shares · 101 added

13F holders

…

Lobbying, 12 mo

—

No lobbying filings

Federal contracts, 12 mo

—

None matched

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Latest 10-Q

Q3 2026

What changed in Fermi Inc.'s latest quarterly report, compared with the one before.

Filed Nov 12, 2026 · Quarter ended Sep 30, 2026

Compared with the 10-Q for the quarter ended Jun 30, 2026. Sections compared: management's discussion, risk factors, legal proceedings and controls and procedures.

Read the 10-Q on sec.gov ↗Filing index ↗

Latest 10-Q

What changed in Fermi Inc.'s latest quarterly report, compared with the one before.

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Insider trades

16 in 12 mo

Open-market trades from Form 4. 10b5-1 marks a plan set in advance.

Recent insider trades

Toby R. Neugebauer 10% owner	Nov 5 Form 4 ↗	Sale	−$7.6M 5.00M sh @ $1.52	+67.7%
Toby R. Neugebauer 10% owner	Nov 4 Form 4 ↗	Sale	−$187.5K 94,000 sh @ $1.99	+45.0%
Toby R. Neugebauer 10% owner	Nov 3 Form 4 ↗	Sale	−$2.6M 1.28M sh @ $2.04	+28.3%
Toby R. Neugebauer 10% owner	Nov 3 Form 4 ↗	Sale	−$2.6M 1.28M sh @ $2.04	+28.3%
Toby R. Neugebauer 10% owner	Oct 20 Form 4 ↗	Sale	−$1.3M 420,749 sh @ $3.04	-9.3%

All FRMI insider trades →Planned sales (Form 144): see notices

Insider trades

Open-market trades from Form 4. 10b5-1 marks a plan set in advance.

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13F holders

119.86M shares

223 funds report FRMI. Values checked against market prices.

Funds own 25% of shares (Q2 2026)

298 funds hold the stock.

Q3 2026: 19% · 5,560 of ~8,900 funds reported so far

Q4 20257.4%
Q1 202612%
Q2 202625%
Q3 2026 (so far)19%

Q3 2026. 63 new, 101 added to, 38 trimmed, 138 exited since Q2 2026.

Top 13F holders
#
1	Vanguard Capital Management LLC 13F ↗	11.95M	$50.3M	+280.1%
2	BlackRock, Inc. 13F ↗	10.69M	$45.0M	+154.2%
3	Vanguard Portfolio Management LLC 13F ↗	9.49M	$39.9M	+146.2%
4	State Street Corp 13F ↗	6.31M	$26.6M	+198.4%
5	Marshall Wace, LLP 13F ↗	5.73M	$24.1M	+37.8%
6	Geode Capital Management, LLC 13F ↗	4.94M	$20.8M	+206.8%
7	UBS Group AG 13F ↗	4.38M	$18.5M	+36.8%
8	Cetera Investment Advisers 13F ↗	3.22M	$13.5M	+1.4%
9	Deutsche Bank AG 13F ↗	3.08M	$13.0M	+4009.1%
10	Jump Financial, LLC 13F ↗	2.92M	$12.3M	New

Download CSV Every fund that holds FRMI, not only these ten. A download holds at most 10,000 rows; narrow the filters to get a smaller slice.

13F holders

Funds that report this stock, checked against market prices.

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Trades by members of Congress

Disclosed in dollar ranges, up to 45 days after the trade.

No recent congressional trades for this company.

Trades by members of Congress

Disclosed in dollar ranges, up to 45 days after the trade.

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Lobbying

What Fermi Inc. and its lobbying firms report each quarter.

No recent lobbying filings for this company.

Lobbying

What Fermi Inc. and its lobbying firms report each quarter.

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Institutional ownership over time

How many funds reported holding the stock at the end of each quarter, and how many shares they held between them.

Funds holding the stock

Shares they report

Funds holding the stock by quarter

Q4 2025	161	—	45.50M	$364.1M
Q1 2026	214	+53	73.34M	$427.9M
Q2 2026	299	+85	161.75M	$1.5B
Q3 2026	223	-76	119.86M	$504.7M

Each point is a quarter-end, from Q4 2025 to Q3 2026. A fund's 13F lists its long positions in US-listed securities as of the last day of the quarter and arrives up to 45 days later, so each point shows holdings at quarter-end, not on the day they were reported.

Common shares only; options and bonds are left out. When a fund amends a report, the amended version is the one counted.

The history follows the company's current CUSIP number (314911108). If the company's shares were ever re-issued under a different CUSIP, the quarters before the change are not part of this series, so the first point (Q4 2025) can be later than the stock's first appearance in 13F reports.

Share counts are adjusted for stock splits; none took place between these quarters. Values are in dollars as reported at the time and are not adjusted.

A quarter appears once our daily update has built its summary. If a summary cannot be built, older reports are kept and the chart shows the quarters it has until the next update repairs it.

Institutional ownership over time

How many funds reported holding the stock at the end of each quarter, and how many shares they held between them.

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More filings and data

Each opens the table.

Ownership stakes8 in 12 mo 8-K events5 in 90 days PatentsNone on record Short interestFINRA · updated Oct 15 Planned insider salesForm 144 · 9 in 12 mo Executive payNone on record Wikipedia attentionNone on record SEC enforcementNone on record IPO history1 registration Ownership stakes…8-K events…Patents…Short interest…Planned insider sales…Executive pay…Wikipedia attention…SEC enforcement…

About the company

The basics from the company’s SEC registration.

Legal name: Fermi Inc.
Address: 1845 WOODALL RODGERS FWY, SUITE 1100, DALLAS, TX 75201
Phone: 214-894-7855
Fiscal year ends: Dec 31
Filer category: Non-accelerated filer, emerging growth company
Incorporated in: TX
Listed as: FRMI (Nasdaq)
Former names: Fermi LLC (until 2025)
SEC filings: All filings on SEC EDGAR ↗

About the company

The basics from the company’s SEC registration.

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$2.61+$0.55 (+26.70%) Nov 13 close

1M3M1Y

Oct 13, 2026Low $1.53 · High $3.72Nov 13, 2026

Aug 13, 2026Low $1.53 · High $6.60Nov 13, 2026

Nov 13, 2025Low $1.53 · High $18.36Nov 13, 2026

Congress purchase Congress sale Insider sale over $1M

Adjusted for stock splits; not for dividends. Where prices come from.

Live chart

Intraday and historical prices from TradingView. Quotes may be delayed.

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Information, not investment advice. Company matching is automatic; check the source before relying on one row.