CRA INTL INC CRAI
COM · Common Stock · CUSIP 12618T105
American consultancy firm
* 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 ($685.0k this quarter). Holder counts are more reliable. Shares outstanding: 6.6m as of 2025-07-25, 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 ≈ $187.36. Options: 3 managers hold calls ($3.1m notional), 3 hold puts ($3.1m).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 141 |
| Q4 2022 | 168 |
| Q1 2023 | 156 |
| Q2 2023 | 146 |
| Q3 2023 | 155 |
| Q4 2023 | 156 |
| Q1 2024 | 150 |
| Q2 2024 | 163 |
| Q3 2024 | 187 |
| Q4 2024 | 199 |
| Q1 2025 | 210 |
| Q2 2025 | 219 |
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 | 63 | 72 |
| Q4 2023 | 85 | 68 |
| Q1 2024 | 81 | 69 |
| Q2 2024 | 79 | 76 |
| Q3 2024 | 105 | 66 |
| Q4 2024 | 87 | 87 |
| Q1 2025 | 98 | 91 |
| Q2 2025 | 91 | 110 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $1.5m | $1.6m | 1.05 |
| Q4 2024 | $1.3m | $1.3m | 1.00 |
| Q1 2025 | $2.2m | $2.2m | 1.02 |
| Q2 2025 | $3.1m | $3.1m | 1.01 |
Biggest buyers
| TWO SIGMA ADVISERS, LP | Added | +99.2k |
| TWO SIGMA INVESTMENTS, LP | Added | +80.3k |
| Qube Research & Technologies Ltd | Added | +32.3k |
| MILLENNIUM MANAGEMENT LLC | Added | +31.1k |
| CSM Advisors, LLC | New | +26.3k |
| RENAISSANCE TECHNOLOGIES LLC | Added | +26.1k |
| ExodusPoint Capital Management, LP | New | +22.6k |
| D. E. Shaw & Co., Inc. | Added | +20.1k |
| ROYAL BANK OF CANADA | Added | +18.3k |
| MORGAN STANLEY | Added | +17.7k |
Biggest sellers
| Pertento Partners LLP | Reduced | -143.3k |
| Allianz Asset Management GmbH | Reduced | -35.6k |
| NEUBERGER BERMAN GROUP LLC | Reduced | -17.6k |
| Copeland Capital Management, LLC | Reduced | -17.1k |
| AQR CAPITAL MANAGEMENT LLC | Reduced | -16.5k |
| MARSHALL WACE, LLP | Reduced | -16.5k |
| FMR LLC | Reduced | -16.4k |
| DIMENSIONAL FUND ADVISORS LP | Reduced | -16.3k |
| OBERWEIS ASSET MANAGEMENT INC/ | Reduced | -11.0k |
| JPMORGAN CHASE & CO | Reduced | -10.9k |
Biggest calls
| PEAK6 LLC | Added | $2.7m14.6k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $356.0k1.9k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| PEAK6 LLC | Added | $2.7m14.6k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $374.7k2.0k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 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 |
|---|---|
| BlackRock, Inc. 13G · institution +1.1 pts · filed 2026-07-27 | 8.5% |
| FMR LLC 13G · institution filed 2026-08-06 | 7.3% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-07-31 | 5.0% |
Fell to 5% or below in the last year: Neuberger Berman Group LLC (0.0%, 2026-05-07), VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
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 | — | 2 | $663.7k | $528.2k |
| Q4 2023 | 0 | — | 2 | $2.8m | $2.8m |
| Q1 2024 | 0 | — | 4 | $1.5m | $1.3m |
| Q2 2024 | 0 | — | 4 | $2.2m | $1.7m |
| Q3 2024 | 0 | — | 3 | $1.5m | $1.5m |
| Q4 2024 | 0 | — | 2 | $1.7m | $1.7m |
| Q1 2025 | 0 | — | 4 | $4.0m | $1.8m |
| Q2 2025 | 0 | — | 2 | $1.8m | $1.8m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-05-20 | Maleh Paul A PRESIDENT AND CEO, director | Sold plan | $1.4m7.5k shares |
| 2025-05-12 | Yellin Jonathan D EVP AND GENERAL COUNSEL | Sold plan | $329.8k1.8k 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 2025
| Manager | Shares | Change |
|---|---|---|
| NEUBERGER BERMAN GROUP LLC 0.09% of their portfolio | 623.6k $116.8m | Reduced -17.6k |
| BlackRock, Inc. 0.00% of their portfolio | 575.7k $107.9m | Added +3.4k |
| FMR LLC 0.01% of their portfolio | 568.7k $106.6m | Reduced -16.4k |
| VANGUARD GROUP INC 0.00% of their portfolio | 377.9k $70.8m | Reduced -3.7k |
| RENAISSANCE TECHNOLOGIES LLC 0.06% of their portfolio | 256.4k $48.0m | Added +26.1k |
| Copeland Capital Management, LLC 0.89% of their portfolio | 231.6k $43.4m | Reduced -17.1k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 216.5k $40.6m | Reduced -16.3k |
| JANUS HENDERSON GROUP PLC 0.02% of their portfolio | 190.1k $35.6m | Added +1.9k |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 179.8k $33.7m | Reduced -4.9k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 171.4k $32.1m | Added +3.1k |
| STATE STREET CORP 0.00% of their portfolio | 154.8k $29.0m | Added +1.5k |
| TWO SIGMA ADVISERS, LP 0.05% of their portfolio | 126.7k $23.7m | Added +99.2k |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 125.8k $23.6m | Reduced -3.2k |
| TWO SIGMA INVESTMENTS, LP 0.04% of their portfolio | 118.4k $22.2m | Added +80.3k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 105.6k $19.8m | Reduced -8.0k |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 98.6k $18.5m | Added +234 |
| LORD, ABBETT & CO. LLC 0.06% of their portfolio | 97.3k $18.2m | Reduced -6.7k |
| NEEDHAM INVESTMENT MANAGEMENT LLC 1.27% of their portfolio | 84.8k $15.9m | Added +1.5k |
| RICE HALL JAMES & ASSOCIATES, LLC 0.84% of their portfolio | 83.3k $15.6m | Added +1.8k |
| UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.13% of their portfolio | 82.5k $15.5m | Reduced -1.9k |
| Pertento Partners LLP 1.73% of their portfolio | 81.8k $15.3m | Reduced -143.3k |
| Pembroke Management, LTD 1.80% of their portfolio | 79.5k $14.9m | Reduced -1.5k |
| Qube Research & Technologies Ltd 0.02% of their portfolio | 73.5k $13.8m | Added +32.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 55.7k $10.4m | Added +1.2k |
| Swedbank AB 0.01% of their portfolio | 50.0k $9.4m | First filing |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 48.7k $9.1m | Added +31.1k |
| Invesco Ltd. 0.00% of their portfolio | 47.3k $8.9m | Added +15.0k |
| MORGAN STANLEY 0.00% of their portfolio | 47.2k $8.8m | Added +17.7k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 41.8k $7.8m | Added +14.1k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 41.5k $7.8m | Reduced -5.5k |
| Allianz Asset Management GmbH 0.01% of their portfolio | 38.2k $7.2m | Reduced -35.6k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 36.8k $6.9m | Added +18.3k |
| TEACHER RETIREMENT SYSTEM OF TEXAS 0.03% of their portfolio | 34.7k $6.5m | Reduced -6.1k |
| FIRST TRUST ADVISORS LP 0.00% of their portfolio | 32.7k $6.1m | Reduced -1.7k |
| Boston Partners 0.01% of their portfolio | 30.4k $5.7m | Reduced -492 |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 27.1k $5.1m | Added +20.1k |
| CSM Advisors, LLC 0.14% of their portfolio | 26.3k $4.9m | New |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 24.9k $4.7m | Added +12.4k |
| JANE STREET GROUP, LLC 0.01% of their portfolio | 24.5k $4.6m | Added +10.0k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 24.5k $4.6m | Added +4.6k |
| NORDEA INVESTMENT MANAGEMENT AB 0.00% of their portfolio | 23.4k $4.4m | Added +217 |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 23.1k $4.3m | Reduced -1.3k |
| ExodusPoint Capital Management, LP 0.05% of their portfolio | 22.6k $4.2m | New |
| ISTHMUS PARTNERS, LLC 0.45% of their portfolio | 20.5k $3.8m | Reduced -138 |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 19.0k $3.6m | Added +1.5k |
| OBERWEIS ASSET MANAGEMENT INC/ 0.15% of their portfolio | 19.0k $3.6m | Reduced -11.0k |
| Jump Financial, LLC 0.04% of their portfolio | 18.9k $3.6m | Added +15.3k |
| UBS Group AG 0.00% of their portfolio | 17.9k $3.3m | Added +1.1k |
| STIFEL FINANCIAL CORP 0.00% of their portfolio | 17.8k $3.3m | Reduced -764 |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 16.3k $3.0m | Reduced -10.9k |
| SEI INVESTMENTS CO 0.00% of their portfolio | 16.1k $3.0m | Reduced -3.4k |
| Linden Thomas Advisory Services, LLC 0.33% of their portfolio | 15.9k $3.0m | Reduced -1.5k |
| Axecap Investments, LLC 1.94% of their portfolio | 15.9k $3.0m | Reduced -788 |
| BARCLAYS PLC 0.00% of their portfolio | 15.1k $2.8m | Added +5.2k |
| CHATHAM CAPITAL GROUP, INC. 0.41% of their portfolio | 14.5k $2.7m | Reduced -85 |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 14.4k $2.7m | Added +1.6k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.01% of their portfolio | 13.6k $2.5m | Reduced -4.2k |
| Nuveen, LLC 0.00% of their portfolio | 13.6k $2.5m | Reduced -3.9k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 13.2k $2.5m | Reduced -16.5k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 13.0k $2.4m | Added +343 |
| Swiss National Bank 0.00% of their portfolio | 13.0k $2.4m | Reduced -100 |
| HTG Investment Advisors, Inc. 0.88% of their portfolio | 12.6k $2.4m | Unchanged |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 12.1k $2.3m | Reduced -4.9k |
| HORIZON KINETICS ASSET MANAGEMENT LLC 0.03% of their portfolio | 11.5k $2.2m | Reduced -78 |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 11.5k $2.2m | Added +8.2k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.01% of their portfolio | 11.3k $2.1m | New |
| Acuitas Investments, LLC 1.58% of their portfolio | 10.6k $2.0m | Unchanged |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 10.4k $2.0m | Reduced -1.1k |
| Legal & General Group Plc 0.00% of their portfolio | 8.8k $1.6m | Added +18 |
| MARTINGALE ASSET MANAGEMENT L P 0.04% of their portfolio | 8.6k $1.6m | Unchanged |
| World Investment Advisors 0.04% of their portfolio | 8.5k $1.6m | Unchanged |
| Fiera Capital Corp 0.01% of their portfolio | 8.3k $1.6m | Reduced -2.3k |
| MARSHALL WACE, LLP 0.00% of their portfolio | 8.2k $1.5m | Reduced -16.5k |
| Trexquant Investment LP 0.02% of their portfolio | 7.7k $1.4m | Added +1.3k |
| LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio | 7.6k $1.4m | New |
| Quantbot Technologies LP 0.04% of their portfolio | 7.5k $1.4m | Added +5.4k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 7.4k $1.4m | Reduced -106 |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.01% of their portfolio | 6.8k $1.3m | Reduced -2.3k |
| PDT Partners, LLC 0.07% of their portfolio | 6.4k $1.2m | Added +2.0k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 6.3k $1.2m | Reduced -70 |
| LPL Financial LLC 0.00% of their portfolio | 5.7k $1.1m | Added +304 |
| SPINNAKER TRUST 0.06% of their portfolio | 5.7k $1.1m | Unchanged |
| Semanteon Capital Management, LP 1.48% of their portfolio | 5.2k $983.5k | Reduced -1.2k |
| PEAK6 LLC 0.02% of their portfolio | 5.1k $955.2k | Added +2.6k |
| DEARBORN PARTNERS LLC 0.04% of their portfolio | 5.0k $943.0k | Added +163 |
| Haven Private, LLC 0.41% of their portfolio | 4.9k $927.1k | Reduced -321 |
| Verition Fund Management LLC 0.01% of their portfolio | 4.9k $925.4k | Added +2.1k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 4.8k $908.2k | Reduced -344 |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 4.7k $887.0k | Reduced -317 |
| ALGERT GLOBAL LLC 0.02% of their portfolio | 4.6k $863.8k | Reduced -1.2k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 4.5k $848.0k | Reduced -3.7k |
| Ellsworth Advisors, LLC 0.20% of their portfolio | 4.3k $808.5k | New |
| Arkadios Wealth Advisors 0.02% of their portfolio | 4.3k $796.8k | Added +180 |
| Creative Planning 0.00% of their portfolio | 4.2k $779.6k | Added +439 |
| Squarepoint Ops LLC 0.00% of their portfolio | 4.1k $773.1k | New |
| Bridge City Capital, LLC 0.22% of their portfolio | 4.1k $769.7k | Reduced -104 |
| Prescott Group Capital Management, L.L.C. 0.09% of their portfolio | 4.0k $749.5k | Unchanged |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio | 4.0k $745.0k | Added +1.0k |
| KENNEDY CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 3.9k $732.6k | Added +333 |
| MetLife Investment Management, LLC 0.00% of their portfolio | 3.9k $731.7k | Unchanged |