CADIZ INC CDZI
COM NEW · Common Stock · CUSIP 127537207
- SectorUtilities
- IndustryWater Supply
- HeadquartersLos Angeles, CA
- 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 ($6.6k this quarter). Holder counts are more reliable. Shares outstanding: 83.1m as of 2025-11-10, 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 ≈ $4.72. Options: 9 managers hold calls ($9.1m notional), 4 hold puts ($125.1k).
Trends to Q3 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 62 |
| Q4 2022 | 52 |
| Q1 2023 | 63 |
| Q2 2023 | 81 |
| Q3 2023 | 82 |
| Q4 2023 | 81 |
| Q1 2024 | 78 |
| Q2 2024 | 86 |
| Q3 2024 | 83 |
| Q4 2024 | 98 |
| Q1 2025 | 109 |
| Q2 2025 | 99 |
| Q3 2025 | 110 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2023 | 32 | 33 |
| Q1 2024 | 30 | 37 |
| Q2 2024 | 38 | 31 |
| Q3 2024 | 30 | 32 |
| Q4 2024 | 48 | 31 |
| Q1 2025 | 53 | 32 |
| Q2 2025 | 47 | 44 |
| Q3 2025 | 60 | 32 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $552.4k | $764.4k | 1.38 |
| Q1 2025 | $982.1k | $878.1k | 0.89 |
| Q2 2025 | $2.0m | $355.3k | 0.18 |
| Q3 2025 | $9.1m | $125.1k | 0.01 |
Biggest buyers
| BANK OF AMERICA CORP /DE/ | Added | +2.0m |
| BARCLAYS PLC | Added | +1.2m |
| LEVIN CAPITAL STRATEGIES, L.P. | Added | +419.0k |
| Hartree Partners, LP | New | +200.0k |
| Caption Management, LLC | New | +157.0k |
| STATE STREET CORP | Added | +146.9k |
| VANGUARD GROUP INC | Added | +135.3k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | +130.9k |
| SIMPLEX TRADING, LLC | Added | +105.6k |
| Cinctive Capital Management LP | New | +103.9k |
Biggest sellers
| Alyeska Investment Group, L.P. | Reduced | -983.9k |
| Nokomis Capital, L.L.C. | Sold out | -405.0k |
| American Assets Capital Advisers, LLC | Reduced | -378.4k |
| ROYAL BANK OF CANADA | Reduced | -283.8k |
| MORGAN STANLEY | Reduced | -176.6k |
| RENAISSANCE TECHNOLOGIES LLC | Sold out | -170.0k |
| BRC Group Holdings, Inc. | Sold out | -121.5k |
| Squarepoint Ops LLC | Sold out | -106.8k |
| 272 Capital LP | Sold out | -89.9k |
| BOOTHBAY FUND MANAGEMENT, LLC | Reduced | -78.5k |
Biggest calls
| BARCLAYS PLC | Added | $3.3m700.0k shares |
| GRATIA CAPITAL, LLC | New | $2.4m500.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $1.4m288.6k shares |
| Caption Management, LLC | New | $1.1m225.0k shares |
| JANE STREET GROUP, LLC | Added | $592.4k125.5k shares |
| WOLVERINE TRADING, LLC | Added | $133.9k28.2k shares |
| SIMPLEX TRADING, LLC | Added | $121.0k25.7k shares |
| CITADEL ADVISORS LLC | Reduced | $102.4k21.7k shares |
| GROUP ONE TRADING LLC | Added | $13.7k2.9k shares |
Biggest puts
| CITADEL ADVISORS LLC | Reduced | $63.7k13.5k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $60.9k12.9k shares |
| GROUP ONE TRADING LLC | Reduced | $472100 shares |
| SIMPLEX TRADING, LLC | Unchanged | $0100 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 new · filed 2026-07-27 | 6.0% |
| BANK OF AMERICA CORP /DE/ 13G · institution new · filed 2026-10-28 | 5.9% |
Insider purchases and sales in Q3 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 |
|---|---|---|---|---|---|
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 1 | $19.0k | 0 | — | — |
| Q2 2024 | 1 | $56.2k | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
None reported in Q3 2025.
Holders, Q3 2025
| Manager | Shares | Change |
|---|---|---|
| Whitefort Capital Management, LP 6.23% of their portfolio | 4.0m $18.8m | Unchanged |
| LEVIN CAPITAL STRATEGIES, L.P. 1.59% of their portfolio | 3.7m $17.3m | Added +419.0k |
| BlackRock, Inc. 0.00% of their portfolio | 3.6m $17.0m | Added +26.3k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 3.5m $16.5m | Added +2.0m |
| BARCLAYS PLC 0.01% of their portfolio | 3.3m $15.5m | Added +1.2m |
| VANGUARD GROUP INC 0.00% of their portfolio | 3.0m $14.3m | Added +135.3k |
| Alyeska Investment Group, L.P. 0.02% of their portfolio | 1.5m $7.1m | Reduced -983.9k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 1.3m $6.2m | Added +45.7k |
| STATE STREET CORP 0.00% of their portfolio | 1.2m $5.9m | Added +146.9k |
| GRATIA CAPITAL, LLC 3.47% of their portfolio | 828.7k $3.9m | Added +91.2k |
| MORGAN STANLEY 0.00% of their portfolio | 769.3k $3.6m | Reduced -176.6k |
| ELKHORN PARTNERS LIMITED PARTNERSHIP 2.19% of their portfolio | 683.2k $3.2m | Added +223 |
| American Assets Capital Advisers, LLC 2.99% of their portfolio | 601.1k $2.8m | Reduced -378.4k |
| Rangeley Capital, LLC 2.29% of their portfolio | 516.0k $2.4m | Added +47.0k |
| Permanent Capital Management, LP 0.44% of their portfolio | 496.5k $2.3m | First filing |
| GAM Holding AG 0.14% of their portfolio | 490.2k $2.3m | Added +90.2k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 470.0k $2.2m | Added +12.8k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 453.9k $2.1m | Added +130.9k |
| CAPSTONE INVESTMENT ADVISORS, LLC 0.02% of their portfolio | 437.0k $2.1m | Unchanged |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 277.8k $1.3m | Reduced -283.8k |
| Parkshore Wealth Management, Inc. 0.49% of their portfolio | 255.6k $1.2m | Unchanged |
| SIMPLEX TRADING, LLC 0.03% of their portfolio | 246.1k $1.2m | Added +105.6k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 242.1k $1.1m | Added +8.7k |
| Nuveen, LLC 0.00% of their portfolio | 222.4k $1.0m | Added +12.1k |
| Hartree Partners, LP 0.33% of their portfolio | 200.0k $944.0k | New |
| UBS Group AG 0.00% of their portfolio | 196.5k $927.7k | Added +52.7k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 183.1k $864.5k | Added +6.9k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 180.9k $854.0k | Unchanged |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 161.2k $760.9k | Unchanged |
| Caption Management, LLC 0.04% of their portfolio | 157.0k $741.1k | New |
| Delta Investment Management, LLC 0.13% of their portfolio | 154.7k $730.1k | Unchanged |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 152.0k $717.3k | Added +60.9k |
| Diametric Capital, LP 0.26% of their portfolio | 147.1k $694.3k | Reduced -15.3k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 125.7k $593.3k | Added +45.4k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio | 116.6k $550.2k | Reduced -40.1k |
| Cinctive Capital Management LP 0.02% of their portfolio | 103.9k $490.4k | New |
| INGALLS & SNYDER LLC 0.02% of their portfolio | 98.6k $465.0k | Unchanged |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 92.7k $437.6k | Reduced -44.5k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 89.9k $424.1k | Reduced -2.1k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 88.8k $419.2k | Reduced -1.0k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 79.3k $374.2k | Added +17.1k |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 77.6k $366.1k | Unchanged |
| WOLVERINE TRADING, LLC 0.01% of their portfolio | 77.2k $366.9k | Added +43.3k |
| HCR Wealth Advisors 0.04% of their portfolio | 74.9k $355.3k | Added +25.9k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 69.3k $327.0k | Added +4.1k |
| Verition Fund Management LLC 0.00% of their portfolio | 60.0k $283.2k | New |
| GROUP ONE TRADING LLC 0.01% of their portfolio | 58.2k $274.6k | Added +6.8k |
| PharVision Advisers, LLC 0.13% of their portfolio | 50.4k $237.9k | New |
| MIRABELLA FINANCIAL SERVICES LLP 0.02% of their portfolio | 50.0k $236.0k | New |
| Ancora Advisors LLC 0.00% of their portfolio | 48.8k $230.3k | Unchanged |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 44.3k $209.1k | Added +17.4k |
| MINDSET WEALTH MANAGEMENT, LLC 0.06% of their portfolio | 44.0k $207.7k | Unchanged |
| PRELUDE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 40.7k $192.1k | Reduced -22.8k |
| Financial Engines Advisors L.L.C. 0.00% of their portfolio | 39.9k $188.2k | New |
| Lido Advisors, LLC 0.00% of their portfolio | 37.1k $175.0k | Reduced -19 |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 35.7k $168.5k | Added +5.4k |
| Rathbones Group PLC 0.00% of their portfolio | 34.9k $164.5k | Unchanged |
| EQUITEC PROPRIETARY MARKETS, LLC 0.92% of their portfolio | 32.7k $154.5k | Reduced -75.3k |
| FourWorld Capital Management LLC 0.37% of their portfolio | 32.0k $151.2k | New |
| MetLife Investment Management, LLC 0.00% of their portfolio | 30.8k $145.5k | Reduced -1.9k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 28.6k $135.0k | Added +13.7k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio | 28.4k $134.2k | Unchanged |
| INTECH INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 26.6k $125.7k | Reduced -6.6k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 25.9k $122.0k | Reduced -4.2k |
| Brookwood Investment Group LLC 0.01% of their portfolio | 21.0k $99.1k | Reduced -500 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 19.8k $93.5k | Reduced -2.1k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 19.0k $89.5k | Added +85 |
| Invesco Ltd. 0.00% of their portfolio | 18.8k $88.9k | Added +35 |
| Morton Capital Management LLC/CA 0.01% of their portfolio | 16.7k $78.7k | Unchanged |
| CREDIT AGRICOLE S A 0.00% of their portfolio | 15.3k $72.3k | First filing |
| LDR Capital Management LLC 0.10% of their portfolio | 15.1k $71.3k | New |
| Wealthspire Advisors, LLC 0.00% of their portfolio | 12.8k $60.6k | New |
| SHERBROOKE PARK ADVISERS LLC 0.03% of their portfolio | 11.9k $55.9k | New |
| BOOTHBAY FUND MANAGEMENT, LLC 0.00% of their portfolio | 11.5k $54.1k | Reduced -78.5k |
| NISA INVESTMENT ADVISORS, LLC 0.00% of their portfolio | 11.3k $53.2k | Added +1.1k |
| MARSHALL WACE, LLP 0.00% of their portfolio | 11.1k $52.4k | New |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 11.1k $52.2k | Added +5.9k |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 10.8k $51.2k | Reduced -6.0k |
| Police & Firemen's Retirement System of New Jersey 0.00% of their portfolio | 10.5k $49.5k | Unchanged |
| GABELLI FUNDS LLC 0.00% of their portfolio | 10.0k $47.2k | Unchanged |
| Quarry LP 0.01% of their portfolio | 8.4k $39.8k | New |
| FMR LLC 0.00% of their portfolio | 7.0k $33.2k | Added +267 |
| PNC Financial Services Group, Inc. 0.00% of their portfolio | 6.8k $32.0k | New |
| Legal & General Group Plc 0.00% of their portfolio | 6.1k $28.9k | Unchanged |
| LORING WOLCOTT & COOLIDGE FIDUCIARY ADVISORS LLP/MA 0.00% of their portfolio | 5.0k $25.4k | Unchanged |
| Ameritas Investment Partners, Inc. 0.00% of their portfolio | 3.3k $15.8k | Unchanged |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 3.1k $14.4k | Added +2 |
| Arax Advisory Partners 0.00% of their portfolio | 2.8k $13.3k | New |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 2.7k $12.8k | Reduced -4.8k |
| CITIGROUP INC 0.00% of their portfolio | 2.5k $11.8k | Reduced -17.2k |
| US BANCORP \DE\ 0.00% of their portfolio | 2.0k $9.3k | Added +1.6k |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 1.6k $5.6k | Unchanged |
| AMALGAMATED BANK 0.00% of their portfolio | 1.4k $6.0k | Unchanged |
| Evelyn Partners Investment Management LLP 0.00% of their portfolio | 1.4k $6.4k | Unchanged |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 1.0k $4.9k | Unchanged |
| JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio | 1.0k $4.5k | Unchanged |
| TrinityBridge Ltd 0.00% of their portfolio | 1.0k $5.0k | Unchanged |
| CWM, LLC 0.00% of their portfolio | 991 $5.0k | Added +441 |
| Optiver Holding B.V. 0.00% of their portfolio | 914 $4.3k | New |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 800 $3.8k | Reduced -26.0k |