AFC GAMMA INC AFCG
COM · Common Stock · CUSIP 00109K105
- HeadquartersWest Palm Beach, FL
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($27.1k this quarter). Holder counts are more reliable. Shares outstanding: 22.6m as of 2025-08-13, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $4.49. Options: 3 managers hold calls ($103.5k notional), 3 hold puts ($56.9k).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 80 |
| Q4 2022 | 84 |
| Q1 2023 | 83 |
| Q2 2023 | 83 |
| Q3 2023 | 84 |
| Q4 2023 | 87 |
| Q1 2024 | 84 |
| Q2 2024 | 75 |
| Q3 2024 | 86 |
| Q4 2024 | 87 |
| Q1 2025 | 86 |
| Q2 2025 | 79 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 40 | 33 |
| Q4 2023 | 50 | 28 |
| Q1 2024 | 36 | 40 |
| Q2 2024 | 33 | 38 |
| Q3 2024 | 48 | 23 |
| Q4 2024 | 49 | 31 |
| Q1 2025 | 35 | 45 |
| Q2 2025 | 37 | 39 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $251.9k | $0 | 0.00 |
| Q4 2024 | $390.7k | $185.9k | 0.48 |
| Q1 2025 | $125.8k | $100.3k | 0.80 |
| Q2 2025 | $103.5k | $56.9k | 0.55 |
Biggest buyers
| NORTHERN TRUST CORP | Added | +173.8k |
| MORGAN STANLEY | Added | +111.2k |
| Penserra Capital Management LLC | Added | +101.7k |
| Quantinno Capital Management LP | New | +52.0k |
| GSA CAPITAL PARTNERS LLP | Added | +51.4k |
| AQR CAPITAL MANAGEMENT LLC | New | +36.4k |
| Campbell & CO Investment Adviser LLC | New | +32.9k |
| STATE OF WISCONSIN INVESTMENT BOARD | New | +25.7k |
| Cambria Investment Management, L.P. | Added | +24.5k |
| STATE STREET CORP | Added | +14.1k |
Biggest sellers
| SEGALL BRYANT & HAMILL, LLC | Sold out | -250.2k |
| BlackRock, Inc. | Reduced | -98.3k |
| DEUTSCHE BANK AG\ | Reduced | -74.6k |
| ACADIAN ASSET MANAGEMENT LLC | Reduced | -60.2k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Reduced | -54.2k |
| LOS ANGELES CAPITAL MANAGEMENT LLC | Sold out | -42.8k |
| JPMORGAN CHASE & CO | Reduced | -25.4k |
| RENAISSANCE TECHNOLOGIES LLC | Reduced | -21.3k |
| State of Wyoming | Reduced | -20.9k |
| MARTINGALE ASSET MANAGEMENT L P | Sold out | -20.6k |
Biggest calls
| CITADEL ADVISORS LLC | Added | $103.5k23.1k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
| SIMPLEX TRADING, LLC | Reduced | $0100 shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $56.9k12.7k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
| SIMPLEX TRADING, LLC | New | $0200 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| TANNENBAUM LEONARD M 13D · may seek influence +1.2 pts · filed 2026-09-15 | 31.6% |
| Stoney Lonesome HF LP 13G · passive investor +1.5 pts · filed 2026-07-29 | 8.6% |
Fell to 5% or below in the last year: BlackRock, Inc. (0.0%, 2026-04-27)
Insider purchases and sales in Q2 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 1 | $1.1m | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 3 | $930.7k | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
None reported in Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.00% of their portfolio | 1.6m $7.3m | Reduced -98.3k |
| VANGUARD GROUP INC 0.00% of their portfolio | 915.1k $4.1m | Added +10.3k |
| STATE STREET CORP 0.00% of their portfolio | 385.5k $1.8m | Added +14.1k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 333.1k $1.5m | Added +173.8k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 222.4k $996.3k | Reduced -11.3k |
| MORGAN STANLEY 0.00% of their portfolio | 217.4k $974.1k | Added +111.2k |
| Penserra Capital Management LLC 0.01% of their portfolio | 217.3k $973.0k | Added +101.7k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 200.0k $896.2k | Reduced -4.4k |
| ACADIAN ASSET MANAGEMENT LLC 0.00% of their portfolio | 199.9k $894.0k | Reduced -60.2k |
| GSA CAPITAL PARTNERS LLP 0.04% of their portfolio | 139.3k $624.0k | Added +51.4k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 110.8k $496.4k | Reduced -21.3k |
| PRUDENTIAL FINANCIAL INC 0.00% of their portfolio | 67.8k $303.5k | Added +950 |
| AdvisorShares Investments LLC 0.05% of their portfolio | 67.4k $302.2k | Reduced -9.5k |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.00% of their portfolio | 65.9k $295.4k | Reduced -16.3k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 62.6k $280.5k | Added +1.8k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio | 54.4k $243.9k | Reduced -54.2k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 52.1k $233.4k | Reduced -1.9k |
| Quantinno Capital Management LP 0.00% of their portfolio | 52.0k $232.8k | New |
| Invesco Ltd. 0.00% of their portfolio | 49.0k $219.7k | Reduced -13.5k |
| Cambria Investment Management, L.P. 0.01% of their portfolio | 46.7k $209.2k | Added +24.5k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 36.4k $162.9k | New |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 34.1k $152.8k | Unchanged |
| Campbell & CO Investment Adviser LLC 0.01% of their portfolio | 32.9k $147.5k | New |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 32.4k $145.3k | Added +5.6k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 32.2k $144.3k | Reduced -2.4k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 31.8k $142.5k | Added +7.9k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 31.3k $140.6k | Added +2.1k |
| RITHOLTZ WEALTH MANAGEMENT 0.00% of their portfolio | 31.3k $140.4k | Reduced -4.3k |
| BARCLAYS PLC 0.00% of their portfolio | 30.5k $136.6k | Added +12.4k |
| Cetera Investment Advisers 0.00% of their portfolio | 30.0k $134.4k | Added +9.6k |
| HighTower Advisors, LLC 0.00% of their portfolio | 27.5k $123.0k | Added +113 |
| SMH CAPITAL ADVISORS INC 0.26% of their portfolio | 26.0k $116.5k | Unchanged |
| Catalyst Capital Advisors LLC 0.00% of their portfolio | 26.0k $116.5k | Unchanged |
| STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio | 25.7k $115.1k | New |
| Spire Wealth Management 0.00% of their portfolio | 22.8k $102.1k | Unchanged |
| Nuveen, LLC 0.00% of their portfolio | 22.6k $101.3k | Reduced -16.5k |
| State of Wyoming 0.01% of their portfolio | 19.9k $89.0k | Reduced -20.9k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 19.9k $90.0k | Added +9.2k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 16.7k $74.8k | Reduced -6.7k |
| UBS Group AG 0.00% of their portfolio | 16.2k $72.8k | Reduced -329 |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 12.6k $56.7k | Reduced -25.4k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 11.7k $52.6k | Added +955 |
| INTECH INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 10.5k $46.9k | Reduced -3.9k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 7.9k $35.3k | Reduced -74.6k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 6.8k $30.6k | Unchanged |
| PNC Financial Services Group, Inc. 0.00% of their portfolio | 6.7k $30.0k | Unchanged |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 6.3k $28.4k | Reduced -2.4k |
| CITIGROUP INC 0.00% of their portfolio | 6.1k $27.5k | Reduced -6.3k |
| Police & Firemen's Retirement System of New Jersey 0.00% of their portfolio | 5.6k $25.2k | Unchanged |
| NISA INVESTMENT ADVISORS, LLC 0.00% of their portfolio | 5.6k $25.9k | Unchanged |
| NFSG Corp 0.00% of their portfolio | 5.3k $23.7k | Unchanged |
| McIlrath & Eck, LLC 0.00% of their portfolio | 5.1k $22.9k | Unchanged |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 3.4k $15.3k | Added +1.7k |
| STRS OHIO 0.00% of their portfolio | 3.3k $14.8k | Unchanged |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 3.2k $14.3k | Reduced -855 |
| CWM, LLC 0.00% of their portfolio | 3.0k $14.0k | Added +2.9k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 2.8k $12.5k | New |
| Versant Capital Management, Inc 0.00% of their portfolio | 2.7k $12.2k | New |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 1.8k $7.9k | Reduced -4.6k |
| Ameritas Investment Partners, Inc. 0.00% of their portfolio | 1.6k $7.2k | Unchanged |
| Legal & General Group Plc 0.00% of their portfolio | 1.6k $7.2k | Unchanged |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 1.5k $6.6k | Added +1.5k |
| GROUP ONE TRADING LLC 0.00% of their portfolio | 1.0k $4.5k | Added +500 |
| EverSource Wealth Advisors, LLC 0.00% of their portfolio | 635 $2.8k | New |
| SIMPLEX TRADING, LLC 0.00% of their portfolio | 594 $2.0k | Added +555 |
| AMALGAMATED BANK 0.00% of their portfolio | 554 $2.0k | Unchanged |
| Sterling Capital Management LLC 0.00% of their portfolio | 482 $2.2k | Added +178 |
| Arax Advisory Partners 0.00% of their portfolio | 429 $1.9k | New |
| GAMMA Investing LLC 0.00% of their portfolio | 428 $1.9k | Unchanged |
| Covestor Ltd 0.00% of their portfolio | 224 $1.0k | Added +135 |
| West Financial Advisors, LLC 0.00% of their portfolio | 209 $937 | Added +9 |
| True Wealth Design, LLC 0.00% of their portfolio | 151 $677 | Added +130 |
| Allworth Financial LP 0.00% of their portfolio | 145 $650 | Added +36 |
| Parallel Advisors, LLC 0.00% of their portfolio | 124 $556 | Unchanged |
| Essential Partners LLC 0.00% of their portfolio | 85 $381 | First filing |
| Truvestments Capital LLC 0.00% of their portfolio | 80 $358 | Unchanged |
| AlphaQuest LLC 0.00% of their portfolio | 54 $242 | Added +27 |
| IFP Advisors, Inc 0.00% of their portfolio | 18 $170 | New |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio | 0 $0 | Unchanged |