RYAN SPECIALTY HOLDINGS INC RYAN
CL A · Common Stock · CUSIP 78351F107 · ISIN US78351F1075
- SectorFinancials
- IndustryInsurance Agents, Brokers & Service
- HeadquartersChicago, IL
- 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 ($7.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $37.77. Options: 6 managers hold calls ($7.9m notional), 6 hold puts ($7.9m).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 203 |
| Q4 2022 | 192 |
| Q1 2023 | 199 |
| Q2 2023 | 214 |
| Q3 2023 | 244 |
| Q4 2023 | 257 |
| Q1 2024 | 270 |
| Q2 2024 | 300 |
| Q3 2024 | 348 |
| Q4 2024 | 361 |
| Q1 2025 | 377 |
| Q2 2025 | 376 |
| Q3 2025 | 364 |
| Q4 2025 | 380 |
| Q1 2026 | 363 |
| Q2 2026 | 367 |
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 2024 | 180 | 142 |
| Q4 2024 | 197 | 139 |
| Q1 2025 | 196 | 172 |
| Q2 2025 | 191 | 181 |
| Q3 2025 | 207 | 170 |
| Q4 2025 | 190 | 189 |
| Q1 2026 | 209 | 193 |
| Q2 2026 | 190 | 206 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $11.0m | $2.8m | 0.25 |
| Q4 2025 | $9.0m | $475.0k | 0.05 |
| Q1 2026 | $3.9m | $4.1m | 1.07 |
| Q2 2026 | $7.9m | $7.9m | 0.99 |
Biggest buyers
| Orbis Allan Gray Ltd | New | +6.3m |
| FMR LLC | Added | +4.8m |
| NEUBERGER BERMAN GROUP LLC | Added | +2.5m |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | Added | +1.5m |
| Alberta Investment Management Corp | New | +1.4m |
| UBS Group AG | Added | +1.4m |
| Vulcan Value Partners, LLC | Added | +1.3m |
| THOMPSON SIEGEL & WALMSLEY LLC | New | +1.2m |
| JPMORGAN CHASE & CO | Added | +1.0m |
| LOOMIS SAYLES & CO L P | New | +958.3k |
Biggest sellers
| PRINCIPAL FINANCIAL GROUP INC | Reduced | -4.1m |
| BESSEMER GROUP INC | Reduced | -2.4m |
| Clearbridge Investments, LLC | Sold out | -1.8m |
| Champlain Investment Partners, LLC | Reduced | -1.5m |
| MONTRUSCO BOLTON INVESTMENTS INC. | Reduced | -1.3m |
| BLAIR WILLIAM & CO/IL | Reduced | -1.1m |
| Woodline Partners LP | Sold out | -891.3k |
| Point72 Asset Management, L.P. | Reduced | -825.6k |
| AMERIPRISE FINANCIAL INC | Reduced | -776.2k |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC | Reduced | -661.9k |
Biggest calls
| CITADEL ADVISORS LLC | Added | $3.6m96.5k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $2.2m57.8k shares |
| IMC-Chicago, LLC | Added | $947.8k25.1k shares |
| JANE STREET GROUP, LLC | Added | $800.5k21.2k shares |
| GROUP ONE TRADING LLC | Added | $294.5k7.8k shares |
| SIMPLEX TRADING, LLC | Reduced | $37.8k1.0k shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $3.7m98.3k shares |
| JANE STREET GROUP, LLC | Added | $1.4m37.9k shares |
| SIMPLEX TRADING, LLC | Reduced | $921.3k24.4k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $826.9k21.9k shares |
| WOLVERINE ASSET MANAGEMENT LLC | Unchanged | $517.3k13.7k shares |
| IMC-Chicago, LLC | New | $456.9k12.1k 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 |
|---|---|
| RYAN PATRICK G 13G · exempt (held before listing) filed 2025-05-08 | 53.4% |
| Vulcan Value Partners, LLC 13G · institution +1.0 pts · filed 2026-08-07 | 6.1% |
| T. Rowe Price Investment Management, Inc. 13G · institution new · filed 2026-02-17 | 5.9% |
Fell to 5% or below in the last year: Capital World Investors (0.0%, 2026-05-14), VANGUARD GROUP INC (0.0%, 2026-03-27)
Insider purchases and sales since 1 Apr 2026
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 2024 | 1 | $17.3k | 3 | $12.8m | $11.3m |
| Q1 2025 | 1 | $5.2k | 2 | $25.8m | $6.5m |
| Q2 2025 | 2 | $21.1k | 3 | $4.8m | $946.6k |
| Q3 2025 | 2 | $14.3m | 0 | — | — |
| Q4 2025 | 0 | — | 2 | $232.9m | — |
| Q1 2026 | 1 | $1.0m | 0 | — | — |
| Q2 2026 | 5 | $4.6m | 0 | — | — |
| Q3 2026 | 0 | — | 2 | $1.7m | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-09-08 | MULSHINE BRENDAN MARTIN Co-President and CRO | Sold | $1.6m40.0k shares |
| 2026-08-13 | Conklin Michael EVP & CHRO | Sold | $86.3k2.0k shares |
| 2026-06-12 | Kuczinski Anthony J Director | Bought | $17.9k500 shares |
| 2026-06-11 | Kuczinski Anthony J Director | Bought | $87.1k2.5k shares |
| 2026-06-10 | ROGERS JOHN W JR Director | Bought | $263.7k7.5k shares |
| 2026-06-05 | RYAN PATRICK G Executive Chairman, director · By Insider Living Trusts | Bought | $3.9m120.0k shares |
| 2026-06-03 | Hamilton Janice M Chief Financial Officer | Bought | $200.3k6.3k shares |
| 2026-06-03 | KATZ MARK STEPHEN EVP & General Counsel | Bought | $99.9k3.2k 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 2026
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.01% of their portfolio | 10.5m $396.3m | Reduced -375.5k |
| Vulcan Value Partners, LLC 9.09% of their portfolio | 7.9m $298.8m | Added +1.3m |
| T. Rowe Price Investment Management, Inc. 0.16% of their portfolio | 6.6m $250.2m | Reduced -477.9k |
| Orbis Allan Gray Ltd 0.82% of their portfolio | 6.3m $238.2m | New |
| NEUBERGER BERMAN GROUP LLC 0.14% of their portfolio | 5.6m $210.5m | Added +2.5m |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.01% of their portfolio | 5.3m $198.9m | Reduced -75.4k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 5.2m $197.0m | Added +17.3k |
| FMR LLC 0.01% of their portfolio | 5.1m $193.7m | Added +4.8m |
| STATE STREET CORP 0.00% of their portfolio | 3.7m $139.9m | Added +72.7k |
| Polar Capital Holdings Plc 0.31% of their portfolio | 2.9m $111.0m | Added +490.0k |
| BANK OF MONTREAL /CAN/ 0.04% of their portfolio | 2.8m $104.5m | Added +479.2k |
| Stephens Investment Management Group LLC 1.10% of their portfolio | 2.7m $102.6m | Added +292.1k |
| MONTRUSCO BOLTON INVESTMENTS INC. 1.57% of their portfolio | 2.7m $101.5m | Reduced -1.3m |
| Independent Franchise Partners LLP 0.66% of their portfolio | 2.6m $99.9m | Reduced -175.1k |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 0.27% of their portfolio | 2.3m $88.5m | Reduced -661.9k |
| UBS Group AG 0.01% of their portfolio | 2.2m $83.1m | Added +1.4m |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 2.1m $80.3m | Reduced -145.2k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.06% of their portfolio | 2.0m $76.1m | Added +1.5m |
| MORGAN STANLEY 0.00% of their portfolio | 1.7m $63.5m | Reduced -596.0k |
| NORGES BANK 0.01% of their portfolio | 1.5m $58.4m | Not comparable |
| Alberta Investment Management Corp 0.31% of their portfolio | 1.4m $53.7m | New |
| Fenimore Asset Management Inc 1.02% of their portfolio | 1.3m $49.3m | Added +581.8k |
| Focus Partners Wealth 0.05% of their portfolio | 1.3m $48.1m | Reduced -7.0k |
| Sumitomo Mitsui Trust Group, Inc. 0.03% of their portfolio | 1.3m $47.9m | Reduced -7.6k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 1.2m $45.4m | Added +45.8k |
| THOMPSON SIEGEL & WALMSLEY LLC 0.80% of their portfolio | 1.2m $44.4m | New |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 1.2m $45.4m | Added +1.0m |
| Bank of New York Mellon Corp 0.01% of their portfolio | 1.1m $42.5m | Added +489.2k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 993.3k $37.5m | Reduced -64.8k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 969.1k $36.6m | Reduced -539.0k |
| LOOMIS SAYLES & CO L P 0.05% of their portfolio | 958.3k $36.2m | New |
| NORTHERN TRUST CORP 0.00% of their portfolio | 918.9k $34.7m | Reduced -12.6k |
| Champlain Investment Partners, LLC 0.75% of their portfolio | 777.9k $29.4m | Reduced -1.5m |
| VANGUARD FIDUCIARY TRUST CO 0.01% of their portfolio | 726.2k $27.4m | Added +838 |
| Zimmer Partners, LP 0.65% of their portfolio | 725.0k $27.4m | Reduced -150.0k |
| Clarkston Capital Partners, LLC 2.27% of their portfolio | 710.7k $26.8m | Added +408.8k |
| GENEVA CAPITAL MANAGEMENT LLC 0.47% of their portfolio | 543.4k $20.5m | Reduced -4.8k |
| BLAIR WILLIAM & CO/IL 0.05% of their portfolio | 508.3k $19.2m | Reduced -1.1m |
| WATERS PARKERSON & CO., LLC 0.95% of their portfolio | 508.1k $19.2m | Reduced -22.0k |
| GUARDIAN POINT CAPITAL, LP 5.81% of their portfolio | 500.0k $18.9m | Reduced -75.0k |
| Gotham Asset Management, LLC 0.04% of their portfolio | 483.2k $18.2m | Added +326.2k |
| Mawer Investment Management Ltd. 0.12% of their portfolio | 469.9k $17.7m | Reduced -31.3k |
| DUDLEY & SHANLEY, INC. 2.65% of their portfolio | 465.1k $17.6m | Reduced -14.9k |
| SEI INVESTMENTS CO 0.01% of their portfolio | 448.4k $16.9m | Added +59.6k |
| 2Xideas AG 5.62% of their portfolio | 345.5k $13.0m | Added +238.4k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 332.7k $12.6m | Reduced -4.1m |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 325.3k $12.3m | Reduced -56.2k |
| LORD, ABBETT & CO. LLC 0.03% of their portfolio | 321.8k $12.1m | Added +2.5k |
| Invesco Ltd. 0.00% of their portfolio | 311.3k $11.8m | Added +12.7k |
| Ceredex Value Advisors LLC 0.33% of their portfolio | 307.1k $11.6m | Reduced -532.5k |
| Bellecapital International Ltd. 1.84% of their portfolio | 304.1k $11.5m | New |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 302.1k $11.4m | Reduced -485.5k |
| NFC Investments, LLC 2.82% of their portfolio | 294.0k $11.1m | New |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 289.7k $11.0m | Added +188.0k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 288.2k $10.9m | Reduced -20.6k |
| Quantinno Capital Management LP 0.01% of their portfolio | 282.1k $10.7m | Added +34.3k |
| Nuveen, LLC 0.00% of their portfolio | 266.9k $10.1m | Added +51.2k |
| TD Asset Management Inc 0.01% of their portfolio | 262.4k $9.9m | Unchanged |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 262.0k $9.9m | Reduced -26.4k |
| NATIXIS 0.04% of their portfolio | 245.6k $9.3m | New |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 233.9k $8.8m | Reduced -16.8k |
| C WorldWide Group Holding A/S 0.21% of their portfolio | 227.5k $8.6m | Reduced -768 |
| Swiss National Bank 0.00% of their portfolio | 221.2k $8.4m | Added +4.6k |
| SummitTX Capital, L.P. 0.21% of their portfolio | 206.9k $7.8m | Added +178.2k |
| California Public Employees Retirement System 0.00% of their portfolio | 196.3k $7.4m | Reduced -1.9k |
| ROYCE & ASSOCIATES LP 0.06% of their portfolio | 194.9k $7.4m | New |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.01% of their portfolio | 193.8k $7.3m | Reduced -363.0k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 193.5k $6.5m | Added +10.4k |
| CONFLUENCE INVESTMENT MANAGEMENT LLC 0.11% of their portfolio | 189.0k $7.1m | New |
| EQUITABLE TRUST CO 0.29% of their portfolio | 184.3k $7.0m | Added +70.7k |
| PEREGRINE CAPITAL MANAGEMENT LLC 0.22% of their portfolio | 177.5k $6.7m | Reduced -8.9k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 175.2k $6.6m | Added +80.7k |
| Retirement Systems of Alabama 0.02% of their portfolio | 170.2k $6.4m | Reduced -22.0k |
| Creative Planning 0.00% of their portfolio | 145.7k $5.5m | Added +54.0k |
| Legal & General Group Plc 0.00% of their portfolio | 141.2k $5.3m | Reduced -5.5k |
| Pinnacle Financial Partners, Inc. 0.03% of their portfolio | 135.4k $5.1m | Added +26.9k |
| ELEMENT CAPITAL MANAGEMENT LLC 0.27% of their portfolio | 131.9k $5.0m | New |
| HRT FINANCIAL LP 0.01% of their portfolio | 130.4k $4.9m | New |
| Corient Private Wealth LP 0.01% of their portfolio | 129.1k $4.9m | Reduced -51.6k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 127.6k $4.8m | Reduced -3.8k |
| NORTHWESTERN UNIVERSITY 7.10% of their portfolio | 119.0k $4.5m | Unchanged |
| CI INVESTMENTS INC. 0.01% of their portfolio | 118.9k $4.5m | Reduced -3.3k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 113.6k $4.3m | Added +9.1k |
| Bastion Asset Management Inc. 1.35% of their portfolio | 111.3k $4.0m | New |
| Pictet Asset Management Holding SA 0.00% of their portfolio | 110.3k $4.2m | Added +22.8k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 109.8k $4.1m | Added +81.4k |
| COOPER INVESTORS PTY LTD 1.90% of their portfolio | 109.5k $4.1m | Reduced -120.4k |
| Holocene Advisors, LP 0.01% of their portfolio | 109.0k $4.1m | Added +52.7k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.00% of their portfolio | 108.3k $4.1m | Added +7.4k |
| Ilex Capital Partners (UK) LLP 0.08% of their portfolio | 96.9k $3.7m | New |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 86.7k $3.3m | Reduced -544 |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 85.7k $3.2m | Reduced -776.2k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio | 83.4k $3.1m | Reduced -3.3k |
| Weiss Asset Management LP 0.03% of their portfolio | 78.9k $3.0m | Not comparable |
| Torray Investment Partners LLC 0.40% of their portfolio | 77.9k $2.9m | Added +9.9k |
| Embree Financial Group 0.28% of their portfolio | 75.0k $2.8m | Added +659 |
| Oak Thistle LLC 0.27% of their portfolio | 73.6k $2.8m | Reduced -2.4k |
| NATIXIS ADVISORS, LLC 0.00% of their portfolio | 71.8k $2.7m | Added +35.3k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 69.6k $2.6m | Reduced -570.8k |
| FRED ALGER MANAGEMENT, LLC 0.01% of their portfolio | 68.6k $2.6m | Reduced -57.1k |