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. Holder counts are more reliable. Shares outstanding: 22.7m as of 2026-08-07, 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 ≈ $3.10. Options: 5 managers hold calls ($505.0k notional), 3 hold puts ($670.8k).
Trends to Q2 2026
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 |
| Q3 2025 | 72 |
| Q4 2025 | 69 |
| Q1 2026 | 51 |
| Q2 2026 | 44 |
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 2024 | 48 | 23 |
| Q4 2024 | 49 | 31 |
| Q1 2025 | 35 | 45 |
| Q2 2025 | 37 | 39 |
| Q3 2025 | 36 | 33 |
| Q4 2025 | 22 | 40 |
| Q1 2026 | 24 | 50 |
| Q2 2026 | 22 | 28 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $502.3k | $529.2k | 1.05 |
| Q4 2025 | $480.2k | $400.1k | 0.83 |
| Q1 2026 | $348.6k | $403.5k | 1.16 |
| Q2 2026 | $505.0k | $670.8k | 1.33 |
Biggest buyers
| CDC Financial, Inc. | Added | +324.2k |
| JANE STREET GROUP, LLC | Added | +189.4k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | New | +173.2k |
| Squarepoint Ops LLC | Added | +130.7k |
| ACADIAN ASSET MANAGEMENT LLC | New | +108.4k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | +55.4k |
| Focus Partners Wealth | New | +52.4k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | Added | +27.8k |
| Schonfeld Strategic Advisors LLC | New | +25.8k |
| D. E. Shaw & Co., Inc. | Added | +18.8k |
Biggest sellers
| NORTHERN TRUST CORP | Sold out | -151.1k |
| VANGUARD CAPITAL MANAGEMENT LLC | Sold out | -150.4k |
| Cambria Investment Management, L.P. | Sold out | -97.4k |
| CITADEL ADVISORS LLC | Reduced | -86.4k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -84.6k |
| HRT FINANCIAL LP | Reduced | -67.8k |
| GSA CAPITAL PARTNERS LLP | Reduced | -47.7k |
| DECISION INVESTMENTS, INC | Sold out | -24.2k |
| Vident Advisory, LLC | Reduced | -20.2k |
| Black Maple Capital Management LP | Reduced | -18.8k |
Biggest calls
| CITADEL ADVISORS LLC | Reduced | $173.0k55.8k shares |
| GROUP ONE TRADING LLC | Added | $146.0k47.1k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $110.7k35.7k shares |
| IMC-Chicago, LLC | Added | $52.4k16.9k shares |
| SIMPLEX TRADING, LLC | Reduced | $22.9k7.4k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $558.3k180.1k shares |
| SIMPLEX TRADING, LLC | Added | $111.9k36.1k shares |
| GROUP ONE TRADING LLC | New | $620200 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 since 1 Apr 2026
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 |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 3 | $930.7k | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 3 | $4.6m | 0 | — | — |
| Q4 2025 | 2 | $542.9k | 0 | — | — |
| Q1 2026 | 2 | $1.5m | 0 | — | — |
| Q2 2026 | 1 | $257.3k | 0 | — | — |
| Q3 2026 | 3 | $2.1m | 0 | — | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-09-30 | TANNENBAUM LEONARD M Director | Bought | $162.1k44.6k shares |
| 2026-09-29 | TANNENBAUM LEONARD M Director | Bought | $143.9k40.1k shares |
| 2026-09-28 | TANNENBAUM LEONARD M Director | Bought | $38.1k10.7k shares |
| 2026-09-25 | TANNENBAUM LEONARD M Director | Bought | $18.4k5.2k shares |
| 2026-09-24 | TANNENBAUM LEONARD M Director | Bought | $69.8k20.0k shares |
| 2026-09-23 | TANNENBAUM LEONARD M Director | Bought | $12.1k3.5k shares |
| 2026-09-22 | TANNENBAUM LEONARD M Director | Bought | $80.5k23.1k shares |
| 2026-09-18 | TANNENBAUM LEONARD M Director | Bought | $34.9k10.0k shares |
| 2026-09-17 | TANNENBAUM LEONARD M Director | Bought | $87.5k25.0k shares |
| 2026-09-16 | TANNENBAUM LEONARD M Director | Bought | $8.0k2.3k shares |
| 2026-09-15 | TANNENBAUM LEONARD M Director | Bought | $2.1k608 shares |
| 2026-09-14 | TANNENBAUM LEONARD M Director | Bought | $88.2k25.2k shares |
| 2026-09-11 | TANNENBAUM LEONARD M Director | Bought | $53.2k15.0k shares |
| 2026-09-10 | TANNENBAUM LEONARD M Director | Bought | $121.1k35.0k shares |
| 2026-09-02 | TANNENBAUM LEONARD M Director | Bought | $54.7k15.2k shares |
| 2026-08-31 | TANNENBAUM LEONARD M Director | Bought | $191.8k53.3k shares |
| 2026-08-28 | TANNENBAUM LEONARD M Director | Bought | $232.1k65.8k shares |
| 2026-08-27 | TANNENBAUM LEONARD M Director | Bought | $52.6k15.2k shares |
| 2026-08-26 | TANNENBAUM LEONARD M Director | Bought | $66.2k19.4k shares |
| 2026-08-25 | TANNENBAUM LEONARD M Director | Bought | $102.0k30.0k shares |
| 2026-08-24 | TANNENBAUM LEONARD M Director | Bought | $102.3k30.0k shares |
| 2026-08-21 | TANNENBAUM LEONARD M Director | Bought | $82.0k25.0k shares |
| 2026-08-20 | TANNENBAUM LEONARD M Director | Bought | $65.8k20.0k shares |
| 2026-08-19 | TANNENBAUM LEONARD M Director | Bought | $44.7k12.8k shares |
| 2026-08-14 | TANNENBAUM LEONARD M Director | Bought | $140.2k45.8k shares |
| 2026-08-14 | Hetzel Brandon CFO and Treasurer | Bought | $4.4k1.5k shares |
| 2026-08-14 | Tannenbaum Robyn President and CIO | Bought | $3.1k1.0k shares |
| 2026-05-14 | TANNENBAUM LEONARD M Director | Bought | $257.3k90.6k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| CDC Financial, Inc. 4.28% of their portfolio | 1.8m $5.6m | Added +324.2k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 418.5k $1.3m | Added +189.4k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 220.4k $683.2k | Added +27.8k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 199.9k $619.7k | Added +55.4k |
| GSA CAPITAL PARTNERS LLP 0.04% of their portfolio | 193.3k $599.0k | Reduced -47.7k |
| Squarepoint Ops LLC 0.00% of their portfolio | 191.8k $594.6k | Added +130.7k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio | 173.2k $537.0k | New |
| MORGAN STANLEY 0.00% of their portfolio | 121.5k $376.8k | Added +399 |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 116.5k $361.1k | Added +18.8k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 114.4k $354.7k | Reduced -86.4k |
| ACADIAN ASSET MANAGEMENT LLC 0.00% of their portfolio | 108.4k $335.0k | New |
| Black Maple Capital Management LP 0.19% of their portfolio | 92.1k $285.6k | Reduced -18.8k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 67.1k $208.0k | Reduced -9.7k |
| BlackRock, Inc. 0.00% of their portfolio | 59.9k $185.8k | Unchanged |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 57.5k $178.4k | Added +1.1k |
| Vident Advisory, LLC 0.00% of their portfolio | 53.2k $165.0k | Reduced -20.2k |
| Focus Partners Wealth 0.00% of their portfolio | 52.4k $162.3k | New |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 43.5k $134.8k | Reduced -84.6k |
| HighTower Advisors, LLC 0.00% of their portfolio | 38.3k $118.8k | Added +190 |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 34.1k $105.7k | Unchanged |
| HRT FINANCIAL LP 0.00% of their portfolio | 29.6k $91.0k | Reduced -67.8k |
| SMH CAPITAL ADVISORS INC 0.32% of their portfolio | 26.0k $80.6k | Unchanged |
| Catalyst Capital Advisors LLC 0.00% of their portfolio | 26.0k $80.6k | Unchanged |
| Schonfeld Strategic Advisors LLC 0.00% of their portfolio | 25.8k $80.0k | New |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 25.3k $78.3k | Reduced -197 |
| AXQ CAPITAL, LP 0.01% of their portfolio | 16.6k $51.3k | New |
| Pathstone Holdings, LLC 0.00% of their portfolio | 14.8k $45.8k | Added +2.4k |
| Virtu Financial LLC 0.00% of their portfolio | 10.3k $32.0k | Reduced -443 |
| SIMPLEX TRADING, LLC 0.00% of their portfolio | 9.2k $28.4k | New |
| Spire Wealth Management 0.00% of their portfolio | 9.0k $27.9k | Added +700 |
| NFSG Corp 0.00% of their portfolio | 5.3k $16.4k | Unchanged |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 5.3k $16.4k | Reduced -243 |
| CITIGROUP INC 0.00% of their portfolio | 3.6k $11.1k | Added +3.6k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 1.8k $5.8k | Reduced -422 |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 707 $2.0k | Reduced -816 |
| Bell Investment Advisors, Inc 0.00% of their portfolio | 230 $713 | Unchanged |
| West Financial Advisors, LLC 0.00% of their portfolio | 229 $710 | Added +4 |
| Bare Financial Services, Inc 0.00% of their portfolio | 226 $701 | Unchanged |
| JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio | 142 $444 | New |
| Parallel Advisors, LLC 0.00% of their portfolio | 124 $384 | Unchanged |
| Allworth Financial LP 0.00% of their portfolio | 109 $338 | Unchanged |
| Fortitude Family Office, LLC 0.00% of their portfolio | 70 $217 | New |
| Essential Partners LLC 0.00% of their portfolio | 4 $12 | Reduced -11 |
| Integrated Wealth Concepts LLC 0.00% of their portfolio | 2 $6 | New |