Vault-13

DIGIMARC CORP NEW

COM · Common Stock · CUSIP 25381B101

94 institutional holders +3 vs Q3 2025
12,787,03912.8m shares reported held*
$83.9mreported value*
17 new 29 added 30 reduced 13 sold out net sold ≈ $857.2k (-130.7k shares)

* 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. Implied quarter-end price ≈ $6.56. Options: 1 managers hold calls ($3.9k notional), 0 hold puts (—).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 77Q4 22: 77Q1 23: 74Q2 23: 82Q3 23: 92Q4 23: 91Q1 24: 88Q2 24: 103Q3 24: 97Q4 24: 115Q1 25: 111Q2 25: 105Q3 25: 91Q4 25: 9494Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 202277
Q4 202277
Q1 202374
Q2 202382
Q3 202392
Q4 202391
Q1 202488
Q2 2024103
Q3 202497
Q4 2024115
Q1 2025111
Q2 2025105
Q3 202591
Q4 202594

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1000100Q1 24: 46 bought or addedQ1 24: 45 cut or sold outQ2 24: 60 bought or addedQ2 24: 34 cut or sold outQ2 24Q3 24: 48 bought or addedQ3 24: 45 cut or sold outQ4 24: 69 bought or addedQ4 24: 32 cut or sold outQ4 24Q1 25: 62 bought or addedQ1 25: 58 cut or sold outQ2 25: 54 bought or addedQ2 25: 57 cut or sold outQ2 25Q3 25: 38 bought or addedQ3 25: 57 cut or sold outQ4 25: 46 bought or addedQ4 25: 43 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20244645
Q2 20246034
Q3 20244845
Q4 20246932
Q1 20256258
Q2 20255457
Q3 20253857
Q4 20254643

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$500k$1m$1.5mQ1 25 calls: $1.2mQ1 25 puts: $94.9kQ1 25P/C 0.08Q2 25 calls: $365.6kQ2 25 puts: $0Q2 25P/C 0.00Q3 25 calls: $585.2kQ3 25 puts: $82.1kQ3 25P/C 0.14Q4 25 calls: $3.9kQ4 25 puts: $0Q4 25P/C 0.00
Numbers
QuarterCallsPutsP/C
Q1 2025$1.2m$94.9k0.08
Q2 2025$365.6k$00.00
Q3 2025$585.2k$82.1k0.14
Q4 2025$3.9k$00.00

Biggest buyers

MILLENNIUM MANAGEMENT LLC Added +148,435+148.4k
Quantinno Capital Management LP New +104,888+104.9k
D. E. Shaw & Co., Inc. Added +91,539+91.5k
MORGAN STANLEY Added +76,095+76.1k
GSA CAPITAL PARTNERS LLP New +67,433+67.4k
Point72 Asset Management, L.P. New +53,895+53.9k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +46,303+46.3k
Kimelman & Baird, LLC Added +45,447+45.4k
CHARLES SCHWAB INVESTMENT MANAGEMENT INC Added +38,358+38.4k
Silverberg Bernstein Capital Management LLC Added +30,963+31.0k

Biggest sellers

Woodson Capital Management, LP Sold out -250,000-250.0k
JPMORGAN CHASE & CO Reduced -236,934-236.9k
CITADEL ADVISORS LLC Reduced -71,989-72.0k
Lagoda Investment Management, L.P. Reduced -66,900-66.9k
VANGUARD GROUP INC Reduced -64,607-64.6k
RENAISSANCE TECHNOLOGIES LLC Sold out -62,200-62.2k
BANK OF AMERICA CORP /DE/ Reduced -40,049-40.0k
Turim 21 Investimentos Ltda. Reduced -38,716-38.7k
BNP PARIBAS FINANCIAL MARKETS Reduced -35,097-35.1k
Squarepoint Ops LLC Reduced -21,980-22.0k

Biggest calls

SIMPLEX TRADING, LLC Added $3.9k600 shares

Biggest puts

None

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.

HolderStakeChangeShares Last filed
Altai Capital Management, L.P. 13D · may seek influence no change · filed 2025-08-04
Stated purposeThe Reporting Persons acquired the Common Stock to which this Schedule 13D relates for investment purposes in the ordinary course of business. The Reporting Persons acquired the Common Stock because they believed that the Common Stock reported herein, when purchased, represented an attractive investment opportunity. At the request of the Issuer, Mr. Bajaj agreed to serve as a member of the Board. In connection therewith, on July 28, 2025, Investment Manager and Mr. Bajaj entered into a cooperation agreement with the Issuer (the "Cooperation Agreement"), pursuant to which the Issuer agreed, among other things, to have Mr. Bajaj join the Board for a term expiring at the 2026 annual meeting of the Company's shareholders (including any adjournments, postponements, reschedulings or continuatio… Full filing
 12.9% no change 2.8m 2025-08-04
TCM Strategic Partners L.P. 13D · may seek influence filed 2025-03-19
Stated purposeItem 4 of the Schedule 13D is hereby amended and supplemented by the following: On March 17, 2025, TCM Partners made an in-kind distribution of an aggregate 1,385,147 shares of Common Stock to certain of its limited partners on a proportionate basis, for no consideration, including 32,081 shares that were distributed to TCM Strategic L.P., an entity wholly owned by Mr. McCormack. Since the filing of Amendment No. 1, on April 12, 2021, Mr. McCormack was appointed as President and Chief Executive Officer of the Issuer. Full filing
 11.4% 2.5m 2025-03-19
Ocho Investments LLC 13D · may seek influence +0.1 pts · filed 2025-04-15
Stated purposeItem 4 of the Schedule 13D is hereby amended by adding the following: On April 14, 2025, the Reporting Persons delivered a presentation to the Issuer's board of directors, which is attached hereto as Exhibit 99.2. The Reporting Persons confirm that they do not intend to, or reserve the right to, engage in a control transaction or any contested solicitation for the election of directors. Full filing
 5.2% +0.1 pts 1.1m 2025-04-15

Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26)

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Altai Capital Management, L.P. 46.03% of their portfolio IRVINE, CA 2,769,3462.8m $18.2m $18.2m 46.03% Unchanged
2 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 1,265,4461.3m $8.3m $8.3m 0.00% Reduced -64.6k -64,607
3 BlackRock, Inc. 0.00% of their portfolio New York, NY 1,082,9981.1m $7.1m $7.1m 0.00% Reduced -2.0k -2,037
4 Silverberg Bernstein Capital Management LLC 2.74% of their portfolio ARMONK, NY 724,145724.1k $4.8m $4.8m 2.74% Added +31.0k +30,963
5 Lagoda Investment Management, L.P. 2.64% of their portfolio NEW YORK, NY 694,445694.4k $4.6m $4.6m 2.64% Reduced -66.9k -66,900
6 Kimelman & Baird, LLC 0.34% of their portfolio New York, NY 680,817680.8k $4.5m $4.5m 0.34% Added +45.4k +45,447
7 BBR PARTNERS, LLC 0.18% of their portfolio NEW YORK, NY 517,299517.3k $3.4m $3.4m 0.18% Unchanged
8 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 507,460507.5k $3.3m $3.3m 0.00% Added +76.1k +76,095
9 Private Advisor Group, LLC 0.01% of their portfolio MORRISTOWN, NJ 445,172445.2k $2.9m $2.9m 0.01% Reduced -21.2k -21,186
10 BEACONLIGHT CAPITAL, LLC 1.65% of their portfolio New York, NY 431,772431.8k $2.8m $2.8m 1.65% Reduced -1.3k -1,296
11 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 382,110382.1k $2.5m $2.5m 0.00% Reduced -9.3k -9,343
12 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 325,914325.9k $2.1m $2.1m 0.00% Added +6.5k +6,497
13 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 301,641301.6k $2.0m $2.0m 0.00% Added +91.5k +91,539
14 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 268,986269.0k $1.8m $1.8m 0.00% Added +148.4k +148,435
15 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 234,971235.0k $1.5m $1.5m 0.00% Added +5.8k +5,774
16 UBS Group AG 0.00% of their portfolio ZURICH, V8 162,721162.7k $1.1m $1.1m 0.00% Added +26.5k +26,547
17 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 161,024161.0k $1.1m $1.1m 0.00% Added +38.4k +38,358
18 Post Resch Tallon Group Inc. 0.77% of their portfolio PITTSFORD, NY 138,783138.8k $910.4k $910.4k 0.77% Reduced -13.9k -13,940
19 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 135,623135.6k $889.7k $889.7k 0.00% Reduced -5.4k -5,439
20 Lane Generational LLC 0.73% of their portfolio Palm Beach, FL 122,176122.2k $801.5k $801.5k 0.73% Added +12.6k +12,634
21 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 106,907106.9k $701.3k $701.3k 0.00% Added +28.7k +28,675
22 Quantinno Capital Management LP 0.00% of their portfolio NEW YORK, NY 104,888104.9k $688.1k $688.1k 0.00% New
23 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 100,298100.3k $658.0k $658.0k 0.00% Reduced -72.0k -71,989
24 Bryant Woods Investment Advisors, LLC 0.18% of their portfolio GETZVILLE, NY 71,46671.5k $468.8k $468.8k 0.18% Reduced -6.1k -6,115
25 GSA CAPITAL PARTNERS LLP 0.04% of their portfolio LONDON, X0 67,43367.4k $442.0k $442.0k 0.04% New
26 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 65,12665.1k $427.2k $427.2k 0.00% Added +46.3k +46,303
27 Ledgewood Wealth Advisors, LLC 0.23% of their portfolio EXETER, NH 62,04162.0k $407.0k $407.0k 0.23% Added +10.4k +10,400
28 Turim 21 Investimentos Ltda. 0.15% of their portfolio RIO DE JANEIRO, D5 59,75959.8k $392.0k $392.0k 0.15% Reduced -38.7k -38,716
29 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 58,33358.3k $382.7k $382.7k 0.00% Unchanged
30 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 56,95857.0k $373.6k $373.6k 0.00% Reduced -21.0k -20,988
31 Point72 Asset Management, L.P. 0.00% of their portfolio STAMFORD, CT 53,89553.9k $353.6k $353.6k 0.00% New
32 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 51,86951.9k $341.0k $341.0k 0.00% Added +21.9k +21,900
33 BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.01% of their portfolio HOUSTON, TX 38,50038.5k $252.6k $252.6k 0.01% Unchanged
34 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 37,71537.7k $247.4k $247.4k 0.00% Added +1.4k +1,410
35 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 31,59731.6k $207.3k $207.3k 0.00% Unchanged
36 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 30,09930.1k $197.4k $197.4k 0.00% Reduced -35.1k -35,097
37 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 25,78525.8k $169.2k $169.2k 0.00% New
38 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 24,33924.3k $159.7k $159.7k 0.00% Added +2.0k +1,986
39 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 23,36023.4k $153.2k $153.2k 0.00% Unchanged
40 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 20,56820.6k $134.9k $134.9k 0.00% Reduced -1.9k -1,868
41 Graham Capital Management, L.P. 0.00% of their portfolio ROWAYTON, CT 20,48620.5k $134.4k $134.4k 0.00% Reduced -776 -776
42 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 19,95220.0k $130.9k $130.9k 0.00% Reduced -236.9k -236,934
43 Samjo Management, LLC 0.05% of their portfolio New York, NY 19,37519.4k $127.1k $127.1k 0.05% Unchanged
44 KNIGHTSBRIDGE ASSET MANAGEMENT, LLC 0.02% of their portfolio NEWPORT BEACH, CA 19,29119.3k $126.5k $126.5k 0.02% Added +89 +89
45 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 18,70218.7k $122.7k $122.7k 0.00% Added +7.3k +7,341
46 Quadrature Capital Ltd 0.00% of their portfolio LONDON, X0 17,61817.6k $115.6k $115.6k 0.00% New
47 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 17,37517.4k $114.0k $114.0k 0.00% Reduced -40.0k -40,049
48 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 17,34317.3k $113.8k $113.8k 0.00% New
49 OCCUDO QUANTITATIVE STRATEGIES LP 0.01% of their portfolio FORT LAUDERDALE, FL 16,90216.9k $110.9k $110.9k 0.01% Reduced -8.1k -8,075
50 Inscription Capital, LLC 0.01% of their portfolio HOUSTON, TX 16,62916.6k $109.1k $109.1k 0.01% New
51 Verition Fund Management LLC 0.00% of their portfolio GREENWICH, CT 14,70014.7k $96.4k $96.4k 0.00% New
52 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 13,86613.9k $91.0k $91.0k 0.00% Added +2.8k +2,800
53 Curi Capital, LLC 0.00% of their portfolio CHICAGO, IL 13,32513.3k $87.4k $87.4k 0.00% Reduced -1.1k -1,139
54 GRIMES & Co WEALTH MANAGEMENT, LLC 0.00% of their portfolio WESTBOROUGH, MA 13,27113.3k $87.1k $87.1k 0.00% Unchanged
55 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 12,80712.8k $84.0k $84.0k 0.00% Reduced -22.0k -21,980
56 JACOBS LEVY EQUITY MANAGEMENT, INC 0.00% of their portfolio FLORHAM PARK, NJ 12,36512.4k $81.1k $81.1k 0.00% New
57 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 11,87811.9k $77.9k $77.9k 0.00% New
58 AlphaQuest LLC 0.00% of their portfolio New York, NY 11,08111.1k $72.7k $72.7k 0.00% Reduced -2.3k -2,295
59 FMR LLC 0.00% of their portfolio BOSTON, MA 7,6397.6k $50.1k $50.1k 0.00% Added +6.1k +6,053
60 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio CAUSEWAY BAY, K3 7,4287.4k $48.7k $48.7k 0.00% Added +6 +6
61 Versant Capital Management, Inc 0.01% of their portfolio PHOENIX, AZ 6,9947.0k $45.9k $45.9k 0.01% New
62 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 6,1006.1k $40.0k $40.0k 0.00% Unchanged
63 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 4,9434.9k $32.4k $32.4k 0.00% Unchanged
64 Police & Firemen's Retirement System of New Jersey 0.00% of their portfolio TRENTON, NJ 3,7853.8k $24.8k $24.8k 0.00% Unchanged
65 FEDERATED HERMES, INC. 0.00% of their portfolio PITTSBURGH, PA 3,4783.5k $22.8k $22.8k 0.00% Added +2.8k +2,804
66 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 2,3862.4k $15.7k $15.7k 0.00% Added +165 +165
67 Legal & General Group Plc 0.00% of their portfolio London, X0 1,6721.7k $11.0k $11.0k 0.00% Unchanged
68 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 1,5871.6k $10.4k $10.4k 0.00% Reduced -1.3k -1,254
69 SIMPLEX TRADING, LLC 0.00% of their portfolio CHICAGO, IL 1,4631.5k $9.6k $9.6k 0.00% Reduced -3.5k -3,530
70 Ameritas Investment Partners, Inc. 0.00% of their portfolio LINCOLN, NE 1,4021.4k $9.2k $9.2k 0.00% Unchanged
71 GAMMA Investing LLC 0.00% of their portfolio FOSTER CITY, CA 1,2361.2k $8.1k $8.1k 0.00% New
72 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 962962 $6.3k $6.3k 0.00% Reduced -11 -11
73 NISA INVESTMENT ADVISORS, LLC 0.00% of their portfolio ST. LOUIS, MO 849849 $5.6k $5.6k 0.00% Added +840 +840
74 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 809809 $5.0k $5.0k 0.00% Reduced -15.0k -14,951
75 Arax Advisory Partners 0.00% of their portfolio NEW YORK, NY 742742 $4.9k $4.9k 0.00% Added +676 +676
76 Optiver Holding B.V. 0.00% of their portfolio AMSTERDAM, P7 497497 $3.3k $3.3k 0.00% New
77 AMALGAMATED BANK 0.00% of their portfolio NEW YORK, NY 491491 $3.0k $3.0k 0.00% Reduced -33 -33
78 CWM, LLC 0.00% of their portfolio OMAHA, NE 476476 $3.0k $3.0k 0.00% Added +378 +378
79 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 361361 $2.4k $2.4k 0.00% Reduced -1.0k -1,022
80 GROUP ONE TRADING LLC 0.00% of their portfolio CHICAGO, IL 259259 $1.7k $1.7k 0.00% Reduced -1.4k -1,376
81 SBI Securities Co., Ltd. 0.00% of their portfolio TOKYO, M0 155155 $1.0k $1.0k 0.00% Added +149 +149
82 LOS ANGELES CAPITAL MANAGEMENT LLC 0.00% of their portfolio LOS ANGELES, CA 114114 $1.1k $1.1k 0.00% Reduced -12.2k -12,170
83 Sterling Capital Management LLC 0.00% of their portfolio CHARLOTTE, NC 102102 $669 $669 0.00% Added +64 +64
84 SIGNATUREFD, LLC 0.00% of their portfolio ATLANTA, GA 100100 $656 $656 0.00% Unchanged
85 Global Retirement Partners, LLC 0.00% of their portfolio San Rafael, CA 5757 $374 $374 0.00% Unchanged
86 Vision Retirement, LLC 0.00% of their portfolio RIDGEWOOD, NJ 5050 $328 $328 0.00% First filing
87 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 4646 $302 $302 0.00% Reduced -61 -61
88 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 3939 $256 $256 0.00% Added +8 +8
89 EverSource Wealth Advisors, LLC 0.00% of their portfolio BIRMINGHAM, AL 2424 $157 $157 0.00% New
90 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 2222 $144 $144 0.00% Unchanged
91 Capital Advisors, Ltd. LLC 0.00% of their portfolio SHAKER HEIGHTS, OH 1010 $0 $0 0.00% New
92 Covestor Ltd 0.00% of their portfolio LONDON, X0 66 $0 $0 0.00% Unchanged
93 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 33 $20 $20 0.00% New
94 ROTHSCHILD INVESTMENT LLC 0.00% of their portfolio CHICAGO, IL 11 $7 $7 0.00% New