EPAM SYS INC EPAM
COM · Common Stock · CUSIP 29414B104 · ISIN US29414B1044
Global provider of software engineering and IT consulting services
* 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 ($23.2m this quarter). Holder counts are more reliable. Shares outstanding: 55.2m as of 2025-10-31, 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 ≈ $150.87. Options: 16 managers hold calls ($57.0m notional), 13 hold puts ($50.5m).
Trends to Q3 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 592 |
| Q4 2022 | 611 |
| Q1 2023 | 570 |
| Q2 2023 | 509 |
| Q3 2023 | 518 |
| Q4 2023 | 559 |
| Q1 2024 | 570 |
| Q2 2024 | 538 |
| Q3 2024 | 559 |
| Q4 2024 | 631 |
| Q1 2025 | 570 |
| Q2 2025 | 570 |
| Q3 2025 | 556 |
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 | 238 | 273 |
| Q1 2024 | 282 | 259 |
| Q2 2024 | 279 | 284 |
| Q3 2024 | 308 | 236 |
| Q4 2024 | 298 | 298 |
| Q1 2025 | 278 | 335 |
| Q2 2025 | 316 | 304 |
| Q3 2025 | 290 | 288 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $67.5m | $91.2m | 1.35 |
| Q1 2025 | $61.5m | $103.5m | 1.68 |
| Q2 2025 | $60.2m | $56.9m | 0.95 |
| Q3 2025 | $57.0m | $50.5m | 0.89 |
Biggest buyers
| JPMORGAN CHASE & CO | Added | +844.6k |
| BRANDES INVESTMENT PARTNERS, LP | Added | +814.8k |
| AMERIPRISE FINANCIAL INC | Added | +596.8k |
| BARCLAYS PLC | Added | +583.0k |
| Senvest Management, LLC | Added | +524.8k |
| Van Berkom & Associates Inc. | Added | +361.2k |
| Aikya Investment Management Ltd | Added | +347.1k |
| Alyeska Investment Group, L.P. | Added | +284.8k |
| MILLENNIUM MANAGEMENT LLC | Added | +262.7k |
| BAILLIE GIFFORD & CO | Added | +221.5k |
Biggest sellers
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | Sold out | -841.9k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Reduced | -424.6k |
| JACOBS LEVY EQUITY MANAGEMENT, INC | Sold out | -341.8k |
| VOYA INVESTMENT MANAGEMENT LLC | Reduced | -316.3k |
| CITADEL ADVISORS LLC | Reduced | -282.9k |
| ARGA Investment Management, LP | Reduced | -281.0k |
| Capital World Investors | Reduced | -253.4k |
| Assenagon Asset Management S.A. | Reduced | -207.3k |
| Invesco Ltd. | Reduced | -191.6k |
| KBC Group NV | Reduced | -191.4k |
Biggest calls
| CITADEL ADVISORS LLC | Added | $14.5m96.1k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $13.4m88.9k shares |
| Cubist Systematic Strategies, LLC | Added | $5.3m35.2k shares |
| Twin Tree Management, LP | Reduced | $5.1m34.0k shares |
| WOLVERINE TRADING, LLC | Added | $4.3m27.6k shares |
| PEAK6 LLC | Added | $4.0m26.4k shares |
| IMC-Chicago, LLC | Added | $3.9m25.6k shares |
| TUDOR INVESTMENT CORP ET AL | Added | $1.3m8.9k shares |
| Walleye Trading LLC | Reduced | $1.3m8.7k shares |
| Sender Co & Partners, Inc. | New | $1.3m8.6k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $14.8m97.9k shares |
| CITADEL ADVISORS LLC | Reduced | $10.1m67.1k shares |
| Twin Tree Management, LP | New | $6.4m42.4k shares |
| IMC-Chicago, LLC | Added | $4.4m29.4k shares |
| Cubist Systematic Strategies, LLC | Reduced | $4.1m27.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $3.6m23.7k shares |
| WOLVERINE TRADING, LLC | Added | $2.4m15.5k shares |
| JANE STREET GROUP, LLC | Added | $1.7m11.4k shares |
| VELA Investment Management, LLC | Added | $754.0k5.0k shares |
| TUDOR INVESTMENT CORP ET AL | Reduced | $708.7k4.7k 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 +4.9 pts · filed 2026-07-08 | 11.9% |
| AMERIPRISE FINANCIAL INC 13G · institution +3.2 pts · filed 2026-07-08 | 10.5% |
| Capital World Investors 13G · institution -4.0 pts · filed 2026-08-12 | 9.4% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 5.7% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution -2.4 pts · filed 2026-07-31 | 5.1% |
Fell to 5% or below in the last year: Invesco Ltd. (4.6%, 2026-08-13), VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
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 | — | 2 | $2.8m | $2.8m |
| Q1 2024 | 0 | — | 5 | $17.6m | $630.0k |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 2 | $2.1m | $356.2k |
| Q1 2025 | 0 | — | 3 | $4.9m | $277.0k |
| Q2 2025 | 8 | $7.5k | 1 | $1.9m | — |
| Q3 2025 | 0 | — | 0 | — | — |
None reported in Q3 2025.
Holders, Q3 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.02% of their portfolio | 7.0m $1.1bn | Added +29.8k |
| BlackRock, Inc. 0.01% of their portfolio | 4.7m $703.6m | Added +207.9k |
| Invesco Ltd. 0.09% of their portfolio | 3.9m $589.8m | Reduced -191.6k |
| AMERIPRISE FINANCIAL INC 0.09% of their portfolio | 2.7m $401.5m | Added +596.8k |
| STATE STREET CORP 0.01% of their portfolio | 2.3m $353.0m | Reduced -3.5k |
| Capital World Investors 0.05% of their portfolio | 2.3m $348.0m | Reduced -253.4k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 1.5m $220.6m | Added +844.6k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 1.4m $218.4m | Added +27.9k |
| CITADEL ADVISORS LLC 0.17% of their portfolio | 1.4m $207.8m | Reduced -282.9k |
| BAILLIE GIFFORD & CO 0.14% of their portfolio | 1.3m $195.1m | Added +221.5k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.05% of their portfolio | 1.1m $159.7m | Reduced -424.6k |
| Senvest Management, LLC 4.69% of their portfolio | 968.4k $146.0m | Added +524.8k |
| BRANDES INVESTMENT PARTNERS, LP 0.99% of their portfolio | 822.5k $124.0m | Added +814.8k |
| DIMENSIONAL FUND ADVISORS LP 0.03% of their portfolio | 774.7k $116.8m | Added +125.9k |
| Aikya Investment Management Ltd 29.75% of their portfolio | 704.8k $106.3m | Added +347.1k |
| BARCLAYS PLC 0.04% of their portfolio | 698.6k $105.3m | Added +583.0k |
| Alyeska Investment Group, L.P. 0.30% of their portfolio | 645.0k $97.3m | Added +284.8k |
| FMR LLC 0.00% of their portfolio | 613.0k $92.4m | Reduced -83.0k |
| MORGAN STANLEY 0.00% of their portfolio | 529.9k $79.9m | Added +53.9k |
| Point72 Asset Management, L.P. 0.17% of their portfolio | 522.1k $78.7m | Added +126.6k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 505.2k $76.2m | Added +19.7k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 497.2k $75.0m | Reduced -54.9k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 469.4k $70.8m | Reduced -10.3k |
| TD Asset Management Inc 0.06% of their portfolio | 458.6k $69.2m | Added +18.1k |
| Van Berkom & Associates Inc. 1.61% of their portfolio | 369.4k $55.7m | Added +361.2k |
| UBS Group AG 0.01% of their portfolio | 365.9k $55.2m | Added +55.7k |
| Mitsubishi UFJ Trust & Banking Corp 0.12% of their portfolio | 360.4k $54.4m | Reduced -16.2k |
| MILLENNIUM MANAGEMENT LLC 0.04% of their portfolio | 335.8k $50.6m | Added +262.7k |
| WASATCH ADVISORS LP 0.26% of their portfolio | 318.8k $48.1m | Unchanged |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 307.6k $46.4m | Reduced -53.0k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 306.0k $46.1m | Reduced -17.0k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.03% of their portfolio | 275.9k $42.6m | Reduced -68.0k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.05% of their portfolio | 274.5k $41.4m | Added +155.5k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.03% of their portfolio | 273.7k $41.3m | Reduced -49.0k |
| Epoch Investment Partners, Inc. 0.21% of their portfolio | 258.6k $39.0m | Added +13.6k |
| Owls Nest Partners IA, LLC 10.82% of their portfolio | 258.2k $38.9m | Added +32.6k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.13% of their portfolio | 256.6k $38.7m | Added +166.1k |
| FEDERATED HERMES, INC. 0.06% of their portfolio | 237.4k $35.8m | Reduced -95.0k |
| BESSEMER GROUP INC 0.05% of their portfolio | 223.2k $33.7m | Added +89.3k |
| RENAISSANCE TECHNOLOGIES LLC 0.04% of their portfolio | 220.9k $33.3m | Added +93.9k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 197.9k $29.8m | Reduced -85.2k |
| ARGA Investment Management, LP 0.79% of their portfolio | 196.7k $29.7m | Reduced -281.0k |
| Baird Financial Group, Inc. 0.05% of their portfolio | 190.8k $28.8m | Added +758 |
| VOYA INVESTMENT MANAGEMENT LLC 0.03% of their portfolio | 190.2k $28.7m | Reduced -316.3k |
| CITIGROUP INC 0.02% of their portfolio | 190.1k $28.7m | Added +6.2k |
| HSBC HOLDINGS PLC 0.02% of their portfolio | 187.5k $28.3m | Reduced -59.1k |
| Fiera Capital Corp 0.09% of their portfolio | 184.2k $27.8m | Reduced -4.4k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 174.8k $26.4m | Added +12.4k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.15% of their portfolio | 174.6k $26.3m | Reduced -72.5k |
| Balyasny Asset Management L.P. 0.05% of their portfolio | 155.4k $23.4m | Added +77.2k |
| FRONTIER CAPITAL MANAGEMENT CO LLC 0.21% of their portfolio | 154.3k $23.3m | Reduced -153.5k |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 146.6k $22.1m | Reduced -17.4k |
| Amundi 0.01% of their portfolio | 142.9k $21.8m | Added +12.3k |
| Quantinno Capital Management LP 0.06% of their portfolio | 133.7k $20.2m | Added +108.3k |
| Legal & General Group Plc 0.00% of their portfolio | 120.4k $18.2m | Reduced -90.2k |
| Nuveen, LLC 0.00% of their portfolio | 117.2k $17.7m | Reduced -2.2k |
| Clearbridge Investments, LLC 0.01% of their portfolio | 113.2k $17.1m | New |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 109.9k $16.6m | Added +7.6k |
| Swiss National Bank 0.01% of their portfolio | 109.8k $16.6m | Added +1.8k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 108.4k $16.3m | Added +4.0k |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 102.3k $15.4m | Added +3.4k |
| Wishbone Management, LP 8.11% of their portfolio | 100.0k $15.1m | New |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 99.7k $15.0m | Added +41.3k |
| GENEVA CAPITAL MANAGEMENT LLC 0.25% of their portfolio | 96.6k $14.6m | Reduced -2.8k |
| FIRST TRUST ADVISORS LP 0.01% of their portfolio | 96.4k $14.5m | Reduced -20.9k |
| WINTON GROUP Ltd 0.54% of their portfolio | 96.4k $14.5m | New |
| California Public Employees Retirement System 0.01% of their portfolio | 93.4k $14.1m | Added +1.4k |
| Blue Door Asset Management, LLC 7.96% of their portfolio | 93.3k $14.1m | Added +26.7k |
| AQR CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 91.0k $13.7m | Reduced -53.5k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 82.6k $12.5m | Added +659 |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 81.1k $12.2m | Added +7.2k |
| NORRIS PERNE & FRENCH LLP/MI 0.84% of their portfolio | 80.0k $12.1m | Reduced -37.2k |
| SEI INVESTMENTS CO 0.01% of their portfolio | 75.9k $11.4m | Added +537 |
| Distillate Capital Partners LLC 0.59% of their portfolio | 75.7k $11.4m | Reduced -1.0k |
| CAPITAL FUND MANAGEMENT S.A. 0.11% of their portfolio | 75.4k $11.4m | Added +26.5k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 75.1k $11.4m | Reduced -46.6k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.03% of their portfolio | 74.7k $11.3m | Reduced -2.3k |
| Cubist Systematic Strategies, LLC 0.15% of their portfolio | 70.8k $10.7m | Reduced -73.9k |
| Robeco Institutional Asset Management B.V. 0.02% of their portfolio | 69.0k $10.4m | Reduced -22.9k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 66.9k $10.1m | Reduced -121.5k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.01% of their portfolio | 66.1k $10.0m | Added +2.3k |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 65.6k $9.9m | Reduced -1.1k |
| OPPENHEIMER ASSET MANAGEMENT INC. 0.11% of their portfolio | 65.0k $9.8m | Added +13.4k |
| Verition Fund Management LLC 0.05% of their portfolio | 63.1k $9.5m | Reduced -5.2k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 62.0k $9.4m | Reduced -11.7k |
| VAN ECK ASSOCIATES CORP 0.01% of their portfolio | 61.9k $9.3m | Added +18.1k |
| JANE STREET GROUP, LLC 0.01% of their portfolio | 60.8k $9.2m | Added +26.1k |
| Assenagon Asset Management S.A. 0.01% of their portfolio | 59.1k $8.9m | Reduced -207.3k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 53.7k $8.1m | Added +2 |
| State of New Jersey Common Pension Fund D 0.03% of their portfolio | 52.2k $7.9m | Added +364 |
| Leeward Investments, LLC - MA 0.40% of their portfolio | 51.9k $7.8m | Reduced -1.9k |
| LPL Financial LLC 0.00% of their portfolio | 51.8k $7.8m | Reduced -1.1k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 50.8k $7.7m | Reduced -50 |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.01% of their portfolio | 48.9k $7.4m | Reduced -848 |
| DANSKE BANK A/S 0.02% of their portfolio | 48.0k $7.2m | Reduced -18.0k |
| KBC Group NV 0.02% of their portfolio | 47.4k $7.1m | Reduced -191.4k |
| Allianz Asset Management GmbH 0.01% of their portfolio | 43.9k $6.6m | Added +12.4k |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 43.5k $6.6m | New |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio | 42.1k $6.3m | Reduced -321 |
| BW Gestao de Investimentos Ltda. 0.47% of their portfolio | 41.3k $6.2m | Unchanged |