BGC GROUP INC BGC
CL A · Common Stock · CUSIP 088929104
American global financial services company
* 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 ($11.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $8.93. Options: 6 managers hold calls ($3.0m notional), 3 hold puts ($225.0k).
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q2 2023 | 8 |
| Q3 2023 | 212 |
| Q4 2023 | 251 |
| Q1 2024 | 259 |
| Q2 2024 | 282 |
| Q3 2024 | 308 |
| Q4 2024 | 320 |
| Q1 2025 | 335 |
| Q2 2025 | 344 |
| Q3 2025 | 364 |
| Q4 2025 | 349 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2024 | 137 | 117 |
| Q2 2024 | 139 | 119 |
| Q3 2024 | 145 | 128 |
| Q4 2024 | 156 | 143 |
| Q1 2025 | 164 | 144 |
| Q2 2025 | 189 | 146 |
| Q3 2025 | 174 | 156 |
| Q4 2025 | 149 | 190 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $5.0m | $1.9m | 0.38 |
| Q2 2025 | $3.0m | $3.7m | 1.24 |
| Q3 2025 | $1.8m | $1.5m | 0.79 |
| Q4 2025 | $3.0m | $225.0k | 0.07 |
Biggest buyers
| Rubric Capital Management LP | Added | +3.0m |
| CITADEL ADVISORS LLC | Added | +1.9m |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | New | +1.9m |
| MILLENNIUM MANAGEMENT LLC | Added | +1.3m |
| D. E. Shaw & Co., Inc. | Added | +917.1k |
| RBF Capital, LLC | Added | +868.4k |
| VANGUARD GROUP INC | Added | +841.2k |
| INTECH INVESTMENT MANAGEMENT LLC | Added | +724.3k |
| BlackRock, Inc. | Added | +670.9k |
| SG Americas Securities, LLC | Added | +646.1k |
Biggest sellers
| JPMORGAN CHASE & CO | Reduced | -3.8m |
| Invesco Ltd. | Reduced | -2.4m |
| SOROS FUND MANAGEMENT LLC | Reduced | -2.3m |
| Azora Capital LP | Sold out | -2.3m |
| PRINCIPAL FINANCIAL GROUP INC | Reduced | -1.1m |
| VICTORY CAPITAL MANAGEMENT INC | Reduced | -1.0m |
| MARSHALL WACE, LLP | Reduced | -750.7k |
| FMR LLC | Reduced | -672.8k |
| Penn Capital Management Company, LLC | Sold out | -622.8k |
| MACQUARIE GROUP LTD | Sold out | -598.5k |
Biggest calls
| JANE STREET GROUP, LLC | New | $959.1k107.4k shares |
| Balyasny Asset Management L.P. | New | $893.0k100.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $539.4k60.4k shares |
| SIMPLEX TRADING, LLC | Added | $533.1k59.7k shares |
| CITADEL ADVISORS LLC | Reduced | $90.2k10.1k shares |
| GROUP ONE TRADING LLC | Reduced | $8.9k1.0k shares |
Biggest puts
| CITADEL ADVISORS LLC | Reduced | $209.9k23.5k shares |
| SIMPLEX TRADING, LLC | Reduced | $14.3k1.6k shares |
| GROUP ONE TRADING LLC | Reduced | $893100 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 |
|---|---|
CANTOR FITZGERALD, L. P.
13D · may seek influence
-0.1 pts · filed 2025-10-06
Stated purposeItem 4 is hereby amended and supplemented with the following: Completion of Howard W. Lutnick Divestiture In accordance with the transactions detailed below, Mr. Howard W. Lutnick, the U.S. Secretary of Commerce and the Company's former Chief Executive Officer and former Chairman of the Board of Directors of the Company, has completed his previously announced divestiture of his holdings in the Company in connection with his appointment as the U.S. Secretary of Commerce. Mr. Howard W. Lutnick no longer has any voting or dispositive power over any of the securities of the Company, and the Reporting Persons understand that he will file Amendment No. 20B as his final amendment to the Original 13D to reflect his zero ownership. Acquisition of CFGM Voting Shares by Trusts Controlled by Mr. Bra… Full filing |
23.4% |
| BlackRock, Inc. 13G · institution +2.9 pts · filed 2025-10-17 | 14.2% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 6.8% |
| Rubric Capital Management LP 13G · institution new · filed 2026-02-13 | 5.8% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 5.2% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
Insider purchases and sales in Q4 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 |
|---|---|---|---|---|---|
| Q1 2024 | 0 | — | 1 | — | — |
| Q2 2024 | 0 | — | 1 | $1.4m | — |
| Q3 2024 | 0 | — | 1 | $395.9k | — |
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 1 | $177.3k | — |
| Q3 2025 | 0 | — | 1 | $286.2k | — |
| Q4 2025 | 3 | $82.6m | 1 | $82.6m | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-10-06 | Lutnick Brandon Director · See Footnotes | Bought | $82.6m109.8m shares |
| 2025-10-06 | LUTNICK HOWARD W Director | Sold | $82.6m9.0m shares |
| 2025-10-06 | CANTOR FITZGERALD, L. P. Director | Bought | $82.6m9.0m shares |
| 2025-10-06 | CF GROUP MANAGEMENT INC Director · See footnote | Bought | $82.6m9.0m shares |
| 2025-10-06 | LUTNICK HOWARD W Director · See Footnotes | Sold | —100.9m 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, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.01% of their portfolio | 53.7m $479.8m | Added +670.9k |
| VANGUARD GROUP INC 0.01% of their portfolio | 43.1m $385.0m | Added +841.2k |
| Rubric Capital Management LP 2.24% of their portfolio | 21.0m $187.5m | Added +3.0m |
| STATE STREET CORP 0.00% of their portfolio | 14.4m $128.3m | Reduced -208.6k |
| AltraVue Capital, LLC 7.20% of their portfolio | 9.8m $87.4m | Reduced -12.5k |
| Boston Partners 0.08% of their portfolio | 8.8m $77.9m | Added +99.0k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 8.7m $77.9m | Reduced -66.7k |
| FMR LLC 0.00% of their portfolio | 8.1m $72.4m | Reduced -672.8k |
| Nuveen, LLC 0.02% of their portfolio | 7.9m $70.5m | Reduced -116.2k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 7.7m $69.1m | Added +49.5k |
| Invesco Ltd. 0.01% of their portfolio | 6.6m $59.1m | Reduced -2.4m |
| MORGAN STANLEY 0.00% of their portfolio | 5.6m $50.3m | Added +590.8k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 4.6m $41.0m | Reduced -74.0k |
| Private Capital Management, LLC 3.52% of their portfolio | 4.2m $37.1m | Reduced -7.3k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 3.4m $30.3m | Reduced -230.1k |
| PRIVATE MANAGEMENT GROUP INC 0.86% of their portfolio | 3.3m $29.5m | Added +26.0k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 3.1m $28.1m | Reduced -3.8m |
| MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio | 3.1m $28.0m | Added +1.3m |
| Bank of New York Mellon Corp 0.00% of their portfolio | 2.8m $25.1m | Added +53.6k |
| D. E. Shaw & Co., Inc. 0.02% of their portfolio | 2.7m $23.7m | Added +917.1k |
| ALGERT GLOBAL LLC 0.34% of their portfolio | 2.5m $21.9m | Added +246.9k |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 2.4m $21.5m | Added +1.9m |
| Clearbridge Investments, LLC 0.02% of their portfolio | 2.4m $21.2m | Added +3.4k |
| Rockefeller Capital Management L.P. 0.04% of their portfolio | 2.3m $20.7m | Added +196.9k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 2.3m $20.1m | Reduced -439.8k |
| Tidal Investments LLC 0.08% of their portfolio | 2.1m $18.9m | Added +233.8k |
| SOROS FUND MANAGEMENT LLC 0.25% of their portfolio | 2.1m $18.8m | Reduced -2.3m |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 2.1m $18.6m | Added +253.4k |
| Robertson Stephens Wealth Management, LLC 0.50% of their portfolio | 2.0m $17.9m | Added +386.7k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.03% of their portfolio | 1.9m $16.8m | New |
| RBF Capital, LLC 0.37% of their portfolio | 1.8m $16.0m | Added +868.4k |
| MUHLENKAMP & CO INC 4.23% of their portfolio | 1.8m $15.7m | Added +7.5k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 1.7m $15.3m | Reduced -1.1m |
| O'Keefe Stevens Advisory, Inc. 3.89% of their portfolio | 1.7m $15.0m | Reduced -70.3k |
| Russell Investments Group, Ltd. 0.02% of their portfolio | 1.6m $14.7m | Added +48.9k |
| HRT FINANCIAL LP 0.05% of their portfolio | 1.5m $13.3m | Added +126.7k |
| UBS Group AG 0.00% of their portfolio | 1.4m $12.4m | Reduced -598.0k |
| PRUDENTIAL FINANCIAL INC 0.01% of their portfolio | 1.3m $11.9m | Added +159.1k |
| Public Sector Pension Investment Board 0.04% of their portfolio | 1.2m $11.1m | Reduced -179.7k |
| PANAGORA ASSET MANAGEMENT INC 0.04% of their portfolio | 1.2m $11.0m | Added +13.0k |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 1.1m $9.9m | Reduced -216.1k |
| Capitolis Liquid Global Markets LLC 0.06% of their portfolio | 1.1m $9.8m | Reduced -411.9k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 958.5k $8.6m | Added +386.2k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 950.0k $8.5m | Reduced -68.4k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.03% of their portfolio | 916.4k $8.2m | Added +547.0k |
| VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio | 913.9k $8.2m | Reduced -98.6k |
| Legal & General Group Plc 0.00% of their portfolio | 911.9k $8.1m | Reduced -74.5k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio | 876.5k $7.8m | Reduced -377.3k |
| INTECH INVESTMENT MANAGEMENT LLC 0.07% of their portfolio | 874.2k $7.8m | Added +724.3k |
| JANE STREET GROUP, LLC 0.01% of their portfolio | 862.9k $7.7m | Added +2.9k |
| Legato Capital Management LLC 0.65% of their portfolio | 846.3k $7.6m | Added +9.9k |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 769.6k $6.9m | Reduced -528.7k |
| SG Americas Securities, LLC 0.01% of their portfolio | 754.2k $6.7m | Added +646.1k |
| BARCLAYS PLC 0.00% of their portfolio | 723.6k $6.5m | Added +116.3k |
| Swiss National Bank 0.00% of their portfolio | 721.5k $6.4m | Reduced -12.8k |
| Phocas Financial Corp. 0.82% of their portfolio | 702.8k $6.3m | Reduced -1.8k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio | 699.5k $6.2m | Reduced -352.9k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 647.8k $5.8m | Reduced -61.6k |
| CIBC WORLD MARKET INC. 0.01% of their portfolio | 614.1k $5.5m | Added +48.4k |
| THOMPSON SIEGEL & WALMSLEY LLC 0.09% of their portfolio | 608.9k $5.4m | Added +39.2k |
| FIRST TRUST ADVISORS LP 0.00% of their portfolio | 545.8k $4.9m | Reduced -262.8k |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 540.6k $4.8m | Reduced -1.0m |
| TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio | 491.9k $4.4m | Added +401.2k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 459.1k $4.1m | Reduced -573.2k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 450.0k $4.0m | Added +20.5k |
| Engineers Gate Manager LP 0.05% of their portfolio | 436.6k $3.9m | Added +354.2k |
| Point72 Asset Management, L.P. 0.01% of their portfolio | 410.0k $3.7m | New |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 405.0k $3.6m | Added +173.0k |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 404.6k $3.6m | Added +276.1k |
| CM Management, LLC 3.01% of their portfolio | 400.0k $3.6m | Added +50.0k |
| CITIGROUP INC 0.00% of their portfolio | 397.2k $3.5m | Reduced -73.7k |
| SEI INVESTMENTS CO 0.00% of their portfolio | 389.2k $3.5m | Added +178.8k |
| PDT Partners, LLC 0.22% of their portfolio | 379.7k $3.4m | Reduced -192.7k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 369.8k $3.3m | Added +10.3k |
| LAZARD ASSET MANAGEMENT LLC 0.01% of their portfolio | 367.9k $3.3m | Reduced -9.9k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 366.7k $3.3m | Added +133.0k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 355.1k $3.2m | Added +39 |
| Trexquant Investment LP 0.03% of their portfolio | 343.0k $3.1m | Reduced -396.2k |
| ESSEX INVESTMENT MANAGEMENT CO LLC 0.45% of their portfolio | 330.5k $3.0m | Reduced -8.0k |
| KENNEDY CAPITAL MANAGEMENT LLC 0.05% of their portfolio | 269.8k $2.4m | Added +1.4k |
| TWINBEECH CAPITAL LP 0.17% of their portfolio | 263.2k $2.4m | New |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 0.08% of their portfolio | 251.1k $2.2m | New |
| Mork Capital Management, LLC 1.36% of their portfolio | 250.0k $2.2m | Unchanged |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 248.0k $2.2m | Reduced -78.4k |
| State of New Jersey Common Pension Fund D 0.01% of their portfolio | 247.3k $2.2m | Added +31.6k |
| Thrivent Financial for Lutherans 0.00% of their portfolio | 246.9k $2.2m | Reduced -16.3k |
| ASHTON THOMAS SECURITIES, LLC 0.39% of their portfolio | 231.9k $2.1m | Unchanged |
| Schonfeld Strategic Advisors LLC 0.01% of their portfolio | 231.8k $2.1m | Added +36.1k |
| Voleon Capital Management LP 0.04% of their portfolio | 219.8k $2.0m | Added +105.5k |
| Brevan Howard Capital Management LP 0.03% of their portfolio | 203.0k $1.8m | Reduced -40.1k |
| M&T Bank Corp 0.01% of their portfolio | 202.9k $1.8m | Added +16.5k |
| Mountain Hill Investment Partners Corp. 1.30% of their portfolio | 202.8k $1.8m | Added +13 |
| State of Alaska, Department of Revenue 0.02% of their portfolio | 200.0k $1.8m | Added +151 |
| MetLife Investment Management, LLC 0.01% of their portfolio | 196.1k $1.8m | Reduced -12.4k |
| Horizon Investments, LLC 0.02% of their portfolio | 196.0k $1.8m | New |
| Illinois Municipal Retirement Fund 0.02% of their portfolio | 191.4k $1.7m | Reduced -2.3k |
| Versor Investments LP 0.27% of their portfolio | 190.8k $1.7m | Added +30.7k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 184.7k $1.6m | Reduced -9.6k |
| NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio | 181.1k $1.6m | Added +11.5k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.00% of their portfolio | 177.4k $1.6m | New |