ECHOSTAR CORP ECHO
CL A · Common Stock · CUSIP 278768106 · ISIN US2787681061
Global satellite services provider
- SectorCommunication
- IndustryCommunications Services, NEC
- HeadquartersEnglewood, CO
- Founded1980
- Websiteechostar.com
- 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 ($1.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $27.70. Options: 38 managers hold calls ($399.7m notional), 40 hold puts ($352.3m).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 189 |
| Q4 2022 | 185 |
| Q1 2023 | 184 |
| Q2 2023 | 163 |
| Q3 2023 | 166 |
| Q4 2023 | 175 |
| Q1 2024 | 268 |
| Q2 2024 | 259 |
| Q3 2024 | 277 |
| Q4 2024 | 285 |
| Q1 2025 | 308 |
| Q2 2025 | 293 |
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 | 75 | 81 |
| Q4 2023 | 115 | 73 |
| Q1 2024 | 225 | 69 |
| Q2 2024 | 94 | 132 |
| Q3 2024 | 115 | 120 |
| Q4 2024 | 124 | 122 |
| Q1 2025 | 152 | 117 |
| Q2 2025 | 146 | 141 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $179.0m | $227.7m | 1.27 |
| Q4 2024 | $115.7m | $154.2m | 1.33 |
| Q1 2025 | $118.9m | $129.8m | 1.09 |
| Q2 2025 | $399.7m | $352.3m | 0.88 |
Biggest buyers
| Silver Point Capital L.P. | Added | +4.8m |
| REDWOOD CAPITAL MANAGEMENT, LLC | Added | +1.6m |
| Darsana Capital Partners LP | Added | +1.2m |
| BlackRock, Inc. | Added | +747.4k |
| Ancient Art, L.P. | New | +666.4k |
| CITIGROUP INC | Added | +643.0k |
| Columbus Hill Capital Management, L.P. | New | +555.3k |
| FMR LLC | Added | +545.9k |
| 140 Summer Partners LP | New | +494.4k |
| DIMENSIONAL FUND ADVISORS LP | Added | +450.2k |
Biggest sellers
| Monarch Alternative Capital LP | Sold out | -2.9m |
| Diameter Capital Partners LP | Reduced | -2.7m |
| GOLDENTREE ASSET MANAGEMENT LP | Sold out | -2.0m |
| UBS Group AG | Reduced | -1.8m |
| CITADEL ADVISORS LLC | Reduced | -1.0m |
| DEUTSCHE BANK AG\ | Reduced | -710.8k |
| JPMORGAN CHASE & CO | Reduced | -600.3k |
| Pennant Investors, LP | Reduced | -582.8k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -493.0k |
| JANE STREET GROUP, LLC | Reduced | -464.5k |
Biggest calls
| Diameter Capital Partners LP | New | $102.5m3.7m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $63.4m2.3m shares |
| GROUP ONE TRADING LLC | Added | $30.1m1.1m shares |
| LMR Partners LLP | New | $20.0m722.3k shares |
| Walleye Trading LLC | Added | $17.2m620.9k shares |
| Apollo Management Holdings, L.P. | New | $14.3m515.4k shares |
| IMC-Chicago, LLC | Added | $13.5m488.0k shares |
| CITADEL ADVISORS LLC | Added | $12.7m457.7k shares |
| CYRUS CAPITAL PARTNERS, L.P. | New | $12.5m450.0k shares |
| Atika Capital Management LLC | New | $12.1m4.4k shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $60.4m2.2m shares |
| GROUP ONE TRADING LLC | Added | $52.4m1.9m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $40.5m1.5m shares |
| SIMPLEX TRADING, LLC | Added | $36.5m1.3m shares |
| 140 Summer Partners LP | New | $35.5m1.3m shares |
| Walleye Trading LLC | Added | $22.9m825.7k shares |
| WOLVERINE TRADING, LLC | Added | $17.8m619.2k shares |
| IMC-Chicago, LLC | Added | $14.6m526.4k shares |
| Graham Capital Management, L.P. | New | $12.0m432.9k shares |
| CAPSTONE INVESTMENT ADVISORS, LLC | Unchanged | $8.3m299.6k 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 |
|---|---|
ERGEN CHARLES W
13D · may seek influence
no change · filed 2026-07-31
Stated purposeItem 4 is hereby amended and supplemented as follows: During the third quarter of each year, Mr. Ergen receives an annuity amount from the 2025 July GRAT, assuming that the 2025 July GRAT has not expired. The number of shares of Class B Common Stock to be distributed as an annuity payment is based in part on the price of the Class A Common Stock on the distribution date and therefore cannot be calculated until the date of distribution. In addition to shares of Class B Common Stock, the annuity payments (and their associated timing) may include, and be based upon, amounts generated from the holdings of the 2025 July GRAT including, among other things, stock recapitalizations or dividends paid or payable with respect to the shares of Class B Common Stock held by the 2025 July GRAT. On July … Full filing |
50.9% |
| STATE STREET CORP 13G · institution -2.5 pts · filed 2026-08-07 | 6.7% |
| BlackRock, Inc. 13G · institution -2.0 pts · filed 2026-07-28 | 6.7% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 6.2% |
| WELLINGTON MANAGEMENT GROUP LLP 13G · institution +5.2 pts · filed 2026-08-13 | 5.3% |
Fell to 5% or below in the last year: FMR LLC (1.8%, 2026-07-08), VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC), Darsana Capital Partners LP (4.5%, 2026-02-17), DODGE & COX (0.0%, 2026-02-13), REDWOOD CAPITAL MANAGEMENT, LLC (3.6%, 2025-11-17)
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 | — | 0 | — | — |
| Q4 2023 | 0 | — | 1 | $37.1k | — |
| Q1 2024 | 1 | $2.7m | 0 | — | — |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 1 | $43.5m | 0 | — | — |
| Q1 2025 | 0 | — | 1 | $150.2k | $150.2k |
| Q2 2025 | 0 | — | 0 | — | — |
None reported in Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.01% of their portfolio | 17.1m $473.5m | Added +747.4k |
| VANGUARD GROUP INC 0.01% of their portfolio | 13.7m $379.5m | Added +349.9k |
| Dodge & Cox 0.21% of their portfolio | 13.4m $371.1m | Reduced -9.7k |
| Darsana Capital Partners LP 7.09% of their portfolio | 9.0m $248.2m | Added +1.2m |
| REDWOOD CAPITAL MANAGEMENT, LLC 39.97% of their portfolio | 7.9m $220.1m | Added +1.6m |
| FMR LLC 0.01% of their portfolio | 7.8m $216.2m | Added +545.9k |
| Silver Point Capital L.P. 11.68% of their portfolio | 6.0m $166.5m | Added +4.8m |
| STATE STREET CORP 0.01% of their portfolio | 5.0m $138.1m | Added +314.7k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 3.4m $95.6m | Added +355.0k |
| Diameter Capital Partners LP 25.32% of their portfolio | 3.3m $90.8m | Reduced -2.7m |
| AMERICAN CENTURY COMPANIES INC 0.04% of their portfolio | 2.7m $73.9m | Reduced -141.7k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 1.7m $48.0m | Reduced -23.1k |
| Quaker Capital Investments, LLC 14.36% of their portfolio | 1.7m $47.0m | Unchanged |
| NORTHERN TRUST CORP 0.01% of their portfolio | 1.7m $47.0m | Reduced -3.9k |
| UBS Group AG 0.01% of their portfolio | 1.6m $44.9m | Reduced -1.8m |
| CYRUS CAPITAL PARTNERS, L.P. 11.93% of their portfolio | 1.6m $44.0m | Added +56.3k |
| Pennant Investors, LP 12.13% of their portfolio | 1.5m $40.6m | Reduced -582.8k |
| MORGAN STANLEY 0.00% of their portfolio | 1.5m $40.2m | Added +236.6k |
| First Pacific Advisors, LP 0.57% of their portfolio | 1.4m $39.8m | Added +385.0k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 1.3m $35.1m | Added +313.3k |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 1.2m $32.0m | Reduced -710.8k |
| Pennant Select, LLC 20.51% of their portfolio | 965.1k $26.7m | Reduced -378.0k |
| Invesco Ltd. 0.00% of their portfolio | 913.3k $25.3m | Added +211.4k |
| CITIGROUP INC 0.02% of their portfolio | 843.8k $23.4m | Added +643.0k |
| THOMPSON SIEGEL & WALMSLEY LLC 0.39% of their portfolio | 832.1k $23.0m | Added +30.2k |
| Rokos Capital Management LLP 0.35% of their portfolio | 764.4k $21.2m | Added +396.1k |
| TWO SIGMA INVESTMENTS, LP 0.04% of their portfolio | 754.2k $20.9m | Added +138 |
| STONEHILL CAPITAL MANAGEMENT LLC 9.12% of their portfolio | 751.4k $20.8m | Reduced -181.0k |
| Nut Tree Capital Management, LP 6.12% of their portfolio | 750.0k $20.8m | Added +250.0k |
| MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio | 734.4k $20.3m | Reduced -493.0k |
| Palestra Capital Management LLC 0.59% of their portfolio | 717.1k $19.9m | Added +357.1k |
| CITADEL ADVISORS LLC 0.02% of their portfolio | 691.3k $19.1m | Reduced -1.0m |
| Kite Lake Capital Management (UK) LLP 29.51% of their portfolio | 669.3k $18.5m | Reduced -82.7k |
| Ancient Art, L.P. 5.96% of their portfolio | 666.4k $18.5m | New |
| BARCLAYS PLC 0.01% of their portfolio | 574.0k $15.9m | Reduced -300.1k |
| Columbus Hill Capital Management, L.P. 2.21% of their portfolio | 555.3k $15.4m | New |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 533.4k $14.8m | Added +450.2k |
| 140 Summer Partners LP 1.77% of their portfolio | 494.4k $13.7m | New |
| FIL Ltd 0.01% of their portfolio | 476.0k $13.2m | Reduced -375.5k |
| Point72 Asset Management, L.P. 0.03% of their portfolio | 459.5k $12.7m | Reduced -7.5k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 444.7k $12.3m | Reduced -600.3k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 442.5k $12.3m | Added +50.5k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 430.4k $11.9m | Added +98.9k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 419.1k $11.6m | Reduced -86.5k |
| GREAT LAKES ADVISORS, LLC 0.10% of their portfolio | 418.7k $11.6m | New |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 414.4k $11.5m | Added +400.4k |
| VAN ECK ASSOCIATES CORP 0.01% of their portfolio | 409.8k $11.4m | Added +126.9k |
| Helix Partners Management LP 5.68% of their portfolio | 390.0k $10.8m | Reduced -38.3k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 360.5k $10.0m | Reduced -257.0k |
| GABELLI FUNDS LLC 0.07% of their portfolio | 359.8k $10.0m | Added +70.0k |
| GAMCO INVESTORS, INC. ET AL 0.09% of their portfolio | 334.6k $9.3m | Reduced -17.5k |
| PLUSTICK MANAGEMENT LLC 5.34% of their portfolio | 325.0k $9.0m | Added +75.0k |
| Nuveen, LLC 0.00% of their portfolio | 313.1k $8.7m | Reduced -23.6k |
| Empyrean Capital Partners, LP 0.40% of their portfolio | 313.0k $8.7m | New |
| CLG LLC 2.67% of their portfolio | 309.5k $8.6m | Added +17.3k |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 307.9k $8.5m | Added +27.8k |
| BI Asset Management Fondsmaeglerselskab A/S 0.08% of their portfolio | 290.9k $8.1m | Added +284.9k |
| Trexquant Investment LP 0.09% of their portfolio | 290.4k $8.0m | New |
| Taconic Capital Advisors LP 0.90% of their portfolio | 281.6k $7.8m | Not comparable |
| Walleye Trading LLC 0.19% of their portfolio | 277.8k $7.7m | New |
| FIRST TRUST ADVISORS LP 0.01% of their portfolio | 273.9k $7.6m | Added +5.9k |
| Swiss National Bank 0.00% of their portfolio | 266.8k $7.4m | Reduced -3.2k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 247.8k $6.9m | Added +15.6k |
| Tiptree Advisors, LLC 4.76% of their portfolio | 219.2k $6.1m | Added +85.0k |
| Legal & General Group Plc 0.00% of their portfolio | 209.0k $5.8m | Added +24.1k |
| JANE STREET GROUP, LLC 0.01% of their portfolio | 197.1k $5.5m | Reduced -464.5k |
| MOORE CAPITAL MANAGEMENT, LP 0.11% of their portfolio | 196.0k $5.4m | New |
| Verition Fund Management LLC 0.03% of their portfolio | 195.5k $5.4m | Added +135.1k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio | 192.7k $5.3m | Reduced -158.2k |
| Weiss Asset Management LP 0.08% of their portfolio | 184.8k $5.1m | Not comparable |
| Penserra Capital Management LLC 0.07% of their portfolio | 180.7k $5.0m | Added +86.9k |
| Retirement Systems of Alabama 0.02% of their portfolio | 164.0k $4.5m | Added +16.9k |
| MetLife Investment Management, LLC 0.02% of their portfolio | 150.9k $4.2m | Added +14.1k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 150.4k $4.2m | Added +12.1k |
| Caption Management, LLC 0.36% of their portfolio | 142.9k $4.0m | New |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 137.9k $3.8m | Added +57.7k |
| ALGERT GLOBAL LLC 0.08% of their portfolio | 132.9k $3.7m | Reduced -18.0k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 129.6k $3.6m | Added +4.7k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 128.9k $3.6m | Added +944 |
| Allianz Asset Management GmbH 0.00% of their portfolio | 125.5k $3.5m | New |
| SCOGGIN MANAGEMENT LP 1.60% of their portfolio | 125.0k $3.5m | New |
| Knighthead Capital Management, LLC 0.22% of their portfolio | 125.0k $3.5m | Unchanged |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 121.9k $3.4m | Added +16.0k |
| GILDER GAGNON HOWE & CO LLC 0.03% of their portfolio | 118.6k $3.3m | Added +70.8k |
| IMC-Chicago, LLC 0.08% of their portfolio | 111.3k $3.1m | Added +51.8k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 110.0k $3.0m | Added +56.4k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 106.7k $3.0m | Reduced -485 |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 106.5k $2.9m | Added +2.1k |
| Permit Capital, LLC 0.94% of their portfolio | 105.3k $2.9m | Unchanged |
| HUSSMAN STRATEGIC ADVISORS, INC. 0.66% of their portfolio | 105.0k $2.9m | Reduced -21.0k |
| CANADA LIFE ASSURANCE Co 0.00% of their portfolio | 103.9k $2.9m | Added +5.3k |
| State of New Jersey Common Pension Fund D 0.01% of their portfolio | 89.9k $2.5m | Added +23.2k |
| Sculptor Capital LP 0.04% of their portfolio | 83.7k $2.3m | Reduced -3.0k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 82.7k $2.3m | Reduced -820 |
| MAPLELANE CAPITAL, LLC 0.14% of their portfolio | 79.9k $2.2m | Reduced -15.1k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 74.4k $2.1m | Added +1.9k |
| SEI INVESTMENTS CO 0.00% of their portfolio | 73.3k $2.0m | Added +20.6k |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 66.7k $1.8m | Added +4.5k |
| WOLVERINE TRADING, LLC 0.05% of their portfolio | 63.8k $1.8m | Added +39.1k |
| JANUS HENDERSON GROUP PLC 0.00% of their portfolio | 60.6k $1.7m | Unchanged |