TUCOWS INC TCX
COM NEW · Common Stock · CUSIP 898697206
Internet services and telecommunications company based in Toronto
- SectorTechnology
- IndustryServices-Computer Processing & Data Preparation
- HeadquartersToronto, Canada
- Founded1993
- Websitetucows.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 ($17.7k this quarter). Holder counts are more reliable. Shares outstanding: 11.2m as of 2026-08-05, 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 ≈ $13.50. Options: 1 managers hold calls ($1.3k notional), 1 hold puts ($525.3k).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 74 |
| Q4 2022 | 72 |
| Q1 2023 | 62 |
| Q2 2023 | 63 |
| Q3 2023 | 59 |
| Q4 2023 | 61 |
| Q1 2024 | 58 |
| Q2 2024 | 61 |
| Q3 2024 | 61 |
| Q4 2024 | 60 |
| Q1 2025 | 62 |
| Q2 2025 | 62 |
| Q3 2025 | 62 |
| Q4 2025 | 70 |
| Q1 2026 | 68 |
| Q2 2026 | 69 |
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 | 25 | 25 |
| Q4 2024 | 24 | 22 |
| Q1 2025 | 28 | 23 |
| Q2 2025 | 19 | 32 |
| Q3 2025 | 24 | 27 |
| Q4 2025 | 28 | 35 |
| Q1 2026 | 33 | 35 |
| Q2 2026 | 39 | 25 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $3.9m | $2.2m | 0.57 |
| Q4 2025 | $4.5k | $2.4m | 531.50 |
| Q1 2026 | $0 | $622.9k | — |
| Q2 2026 | $1.3k | $525.3k | 390.00 |
Biggest buyers
| Quantinno Capital Management LP | Added | +52.8k |
| BlackRock, Inc. | Added | +45.8k |
| AQR CAPITAL MANAGEMENT LLC | Added | +32.2k |
| DIMENSIONAL FUND ADVISORS LP | New | +17.5k |
| MORGAN STANLEY | Added | +15.0k |
| Universal- Beteiligungs- und Servicegesellschaft mbH | Added | +12.0k |
| D. E. Shaw & Co., Inc. | Added | +9.4k |
| VANGUARD PORTFOLIO MANAGEMENT LLC | Added | +7.8k |
| FMR LLC | Added | +5.7k |
| Versant Capital Management, Inc | New | +5.3k |
Biggest sellers
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Sold out | -32.4k |
| CITADEL ADVISORS LLC | Reduced | -11.5k |
| VANGUARD CAPITAL MANAGEMENT LLC | Reduced | -9.4k |
| GOLDMAN SACHS GROUP INC | Reduced | -7.2k |
| RENAISSANCE TECHNOLOGIES LLC | Reduced | -6.9k |
| NORTHERN TRUST CORP | Reduced | -3.8k |
| K.J. Harrison & Partners Inc | Reduced | -3.0k |
| BARCLAYS PLC | Reduced | -1.3k |
| Tower Research Capital LLC (TRC) | Reduced | -696 |
| GEODE CAPITAL MANAGEMENT, LLC | Reduced | -654 |
Biggest calls
| GROUP ONE TRADING LLC | New | $1.3k100 shares |
Biggest puts
| Crawford Fund Management, LLC | Added | $525.3k39.0k 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 |
|---|---|
| Rentrop Norman 13G · passive investor new · filed 2025-01-07 | 12.8% |
| Blacksheep Fund Management Ltd 13G · passive investor filed 2025-05-15 | 9.9% |
| Monega Kapitalanlagegesellschaft mbH 13G · institution new · filed 2025-05-15 | 5.4% |
| Universal-Investment-Gesellschaft mbH 13G · institution new · filed 2026-10-27 | 5.0% |
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 | 0 | — | 1 | $254.3k | $254.3k |
| Q1 2025 | 0 | — | 1 | $253.9k | $253.9k |
| Q2 2025 | 0 | — | 1 | $248.6k | $248.6k |
| Q3 2025 | 0 | — | 1 | $252.4k | $252.4k |
| Q4 2025 | 0 | — | 0 | — | — |
| Q1 2026 | 0 | — | 0 | — | — |
| Q2 2026 | 0 | — | 0 | — | — |
| Q3 2026 | 0 | — | 0 | — | — |
None reported since 1 Apr 2026.
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| EdgePoint Investment Group Inc. 0.22% of their portfolio | 2.1m $28.7m | Unchanged |
| Blacksheep Fund Management Ltd 4.75% of their portfolio | 1.1m $14.7m | Unchanged |
| BlackRock, Inc. 0.00% of their portfolio | 562.0k $7.6m | Added +45.8k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.01% of their portfolio | 545.9k $7.4m | Added +12.0k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 351.8k $4.7m | Reduced -9.4k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 197.9k $2.7m | Reduced -654 |
| STATE STREET CORP 0.00% of their portfolio | 186.5k $2.5m | Added +2.0k |
| Baader Bank Aktiengesellschaft 0.18% of their portfolio | 163.2k $2.2m | Reduced -70 |
| Axxion S.A. 0.13% of their portfolio | 139.1k $1.9m | First filing |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 129.0k $1.7m | Reduced -6.9k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 114.7k $1.5m | Added +2.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 72.7k $979.2k | Added +2.0k |
| Quantinno Capital Management LP 0.00% of their portfolio | 72.7k $979.2k | Added +52.8k |
| Blackhawk Capital Partners, LLC 0.28% of their portfolio | 63.5k $855.0k | Added +1.4k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 60.5k $814.6k | Reduced -3.8k |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 56.1k $756.2k | Added +754 |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio | 47.0k $633.4k | Added +7.8k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 46.3k $624.1k | Added +9.4k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 45.6k $614.7k | Added +32.2k |
| MORGAN STANLEY 0.00% of their portfolio | 38.6k $519.6k | Added +15.0k |
| K.J. Harrison & Partners Inc 0.06% of their portfolio | 31.7k $426.6k | Reduced -3.0k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 21.2k $285.1k | Reduced -7.2k |
| GSA CAPITAL PARTNERS LLP 0.02% of their portfolio | 21.1k $285.0k | Unchanged |
| Bank of New York Mellon Corp 0.00% of their portfolio | 19.9k $268.7k | Added +20 |
| Connor, Clark & Lunn Investment Management Ltd. 0.00% of their portfolio | 19.5k $264.1k | Reduced -500 |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 17.5k $236.2k | New |
| Nuveen, LLC 0.00% of their portfolio | 16.9k $228.2k | Unchanged |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 12.5k $214.3k | Added +300 |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 11.6k $156.5k | Reduced -11.5k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 8.6k $116.4k | Added +562 |
| FMR LLC 0.00% of their portfolio | 7.7k $103.7k | Added +5.7k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 7.2k $97.0k | Added +811 |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 6.4k $86.6k | Added +203 |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 5.9k $79.6k | Added +2.8k |
| Versant Capital Management, Inc 0.01% of their portfolio | 5.3k $71.6k | New |
| CITIGROUP INC 0.00% of their portfolio | 4.3k $57.8k | Added +4.0k |
| UBS Group AG 0.00% of their portfolio | 4.0k $54.2k | Added +2.5k |
| TD Waterhouse Canada Inc. 0.00% of their portfolio | 3.6k $49.6k | Unchanged |
| Vanguard Global Advisers, LLC 0.00% of their portfolio | 3.4k $46.1k | Unchanged |
| Arax Advisory Partners 0.00% of their portfolio | 3.3k $43.9k | Added +3.3k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 3.2k $43.0k | Reduced -21 |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 3.1k $43.5k | Added +143 |
| Police & Firemen's Retirement System of New Jersey 0.00% of their portfolio | 1.6k $21.6k | Unchanged |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 1.1k $15.3k | Reduced -402 |
| BARCLAYS PLC 0.00% of their portfolio | 1.1k $14.2k | Reduced -1.3k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 1.0k $14.1k | Unchanged |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 994 $13.4k | Reduced -696 |
| Ameritas Investment Partners, Inc. 0.00% of their portfolio | 790 $10.6k | Unchanged |
| Legal & General Group Plc 0.00% of their portfolio | 647 $8.7k | Unchanged |
| NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio | 405 $6.7k | Reduced -167 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 404 $5.4k | Unchanged |
| Integrated Wealth Concepts LLC 0.00% of their portfolio | 286 $3.9k | New |
| PNC Financial Services Group, Inc. 0.00% of their portfolio | 239 $3.2k | Added +232 |
| GAMMA Investing LLC 0.00% of their portfolio | 137 $1.8k | Added +51 |
| Sterling Capital Management LLC 0.00% of their portfolio | 111 $1.5k | Reduced -85 |
| Allworth Financial LP 0.00% of their portfolio | 108 $1.5k | Added +81 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 95 $1.3k | Reduced -269 |
| EverSource Wealth Advisors, LLC 0.00% of their portfolio | 84 $1.1k | Added +21 |
| Steward Partners Investment Advisory, LLC 0.00% of their portfolio | 74 $994 | New |
| MassMutual Private Wealth & Trust, FSB 0.00% of their portfolio | 58 $781 | New |
| Private Wealth Management Group, LLC 0.00% of their portfolio | 51 $687 | New |
| IFP Advisors, Inc 0.00% of their portfolio | 46 $620 | Added +41 |
| Global Retirement Partners, LLC 0.00% of their portfolio | 43 $579 | First filing |
| True Wealth Design, LLC 0.00% of their portfolio | 38 $512 | Added +24 |
| Essential Partners LLC 0.00% of their portfolio | 29 $391 | Reduced -101 |
| ROTHSCHILD INVESTMENT LLC 0.00% of their portfolio | 24 $323 | Added +20 |
| Farther Finance Advisors, LLC 0.00% of their portfolio | 11 $148 | Added +6 |
| Clearstead Advisors, LLC 0.00% of their portfolio | 2 $27 | New |
| SJS Investment Consulting Inc. 0.00% of their portfolio | 1 $14 | New |