SPECTRAL AI INC MDAI
COM CL A · Common Stock · CUSIP 84757T105
- SectorHealth care
- IndustrySurgical & Medical Instruments & Apparatus
- HeadquartersDallas, TX
- 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. Holder counts are more reliable. Shares outstanding: 32.2m as of 2026-08-11, 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 ≈ $1.73.
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2023 | 10 |
| Q4 2023 | 16 |
| Q1 2024 | 26 |
| Q2 2024 | 23 |
| Q3 2024 | 24 |
| Q4 2024 | 29 |
| Q1 2025 | 27 |
| Q2 2025 | 27 |
| Q3 2025 | 24 |
| Q4 2025 | 27 |
| Q1 2026 | 24 |
| Q2 2026 | 34 |
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 | 11 | 2 |
| Q4 2024 | 17 | 8 |
| Q1 2025 | 12 | 12 |
| Q2 2025 | 12 | 11 |
| Q3 2025 | 11 | 12 |
| Q4 2025 | 15 | 6 |
| Q1 2026 | 8 | 11 |
| Q2 2026 | 23 | 5 |
Biggest buyers
| MARSHALL WACE, LLP | New | +827.5k |
| VANGUARD CAPITAL MANAGEMENT LLC | Added | +268.1k |
| LPL Financial LLC | New | +160.7k |
| UBS Group AG | Added | +112.8k |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | Added | +88.0k |
| Virtu Financial LLC | New | +41.0k |
| BlackRock, Inc. | Added | +39.5k |
| JPMORGAN CHASE & CO | New | +20.3k |
| NORTHERN TRUST CORP | Added | +18.4k |
| ROYAL BANK OF CANADA | New | +15.5k |
Biggest sellers
| UNIVERSITY OF TEXAS/TEXAS AM INVESTMENT MANAGEMENT CO | Reduced | -88.8k |
| Rathbones Group PLC | Reduced | -87.0k |
| GEODE CAPITAL MANAGEMENT, LLC | Reduced | -78.6k |
| Shay Capital LLC | Sold out | -14.9k |
| CITIGROUP INC | Sold out | -14.8k |
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 |
|---|---|
| LMR Partners LLP 13G · institution new · filed 2026-08-14 | 6.2% |
Fell to 5% or below in the last year: Hudson Bay Capital Management LP (5.0%, 2026-05-08), SPANGENBERG ERICH (2.4%, 2026-03-18)
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.
None reported since 1 Apr 2026.
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 994.4k $1.7m | Added +268.1k |
| Highlander Partners, L.P. 0.52% of their portfolio | 900.0k $1.6m | Unchanged |
| MARSHALL WACE, LLP 0.00% of their portfolio | 827.5k $1.4m | New |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 287.0k $496.5k | Added +88.0k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 226.3k $391.5k | Added +5.3k |
| UBS Group AG 0.00% of their portfolio | 225.8k $390.7k | Added +112.8k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 222.6k $385.2k | Reduced -78.6k |
| BlackRock, Inc. 0.00% of their portfolio | 161.8k $279.9k | Added +39.5k |
| LPL Financial LLC 0.00% of their portfolio | 160.7k $278.0k | New |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 142.7k $246.8k | Added +868 |
| UNIVERSITY OF TEXAS/TEXAS AM INVESTMENT MANAGEMENT CO 0.02% of their portfolio | 121.7k $210.6k | Reduced -88.8k |
| Rathbones Group PLC 0.00% of their portfolio | 87.0k $150.6k | Reduced -87.0k |
| STATE STREET CORP 0.00% of their portfolio | 75.6k $130.8k | Unchanged |
| Forum Financial Management, LP 0.00% of their portfolio | 60.5k $104.7k | Unchanged |
| NORTHERN TRUST CORP 0.00% of their portfolio | 50.5k $87.4k | Added +18.4k |
| Virtu Financial LLC 0.00% of their portfolio | 41.0k $71.0k | New |
| XTX Topco Ltd 0.00% of their portfolio | 32.9k $57.0k | Added +5.8k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 20.3k $34.2k | New |
| N.E.W. Advisory Services LLC 0.00% of their portfolio | 20.0k $34.6k | Added +6.0k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 15.5k $27.0k | New |
| StoneX Group Inc. 0.00% of their portfolio | 15.3k $31.6k | New |
| MORGAN STANLEY 0.00% of their portfolio | 13.8k $23.9k | Added +5.4k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 12.8k $22.1k | Unchanged |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 12.1k $21.0k | New |
| Philip James Wealth Mangement, LLC 0.00% of their portfolio | 12.0k $20.8k | Unchanged |
| Engineers Gate Manager LP 0.00% of their portfolio | 11.0k $19.1k | New |
| HRT FINANCIAL LP 0.00% of their portfolio | 10.2k $17.0k | New |
| WOLVERINE ASSET MANAGEMENT LLC 0.00% of their portfolio | 8.1k $14.1k | Added +1.6k |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 6.5k $11.2k | Unchanged |
| Westside Investment Management, Inc. 0.00% of their portfolio | 2.6k $4.6k | Unchanged |
| NewEdge Advisors, LLC 0.00% of their portfolio | 1.7k $2.9k | Unchanged |
| BARCLAYS PLC 0.00% of their portfolio | 328 $567 | New |
| Concord Wealth Partners 0.00% of their portfolio | 300 $519 | New |
| Rockefeller Capital Management L.P. 0.00% of their portfolio | 173 $299 | New |