Research Frontiers Incorporated
Research Frontiers Incorporated (REFR) Stock Ownership
Institutional vs insider vs public ownership from 13F and float data — top holders, activity, and insider trades below.
SEC 13F · FMP · REFR · as of Sep 30, 2025
Ownership Breakdown
31
Institutional Holders
▼ 1 vs Q2
$6.63M
Total Inst. Value
▼ $459,345 vs Q2
34.87M
Shares Outstanding
freeFloat 77.98%
4.20M
13F Shares Held
▼ 183,575 vs Q2
Institutional ownership = 13F shares ÷ total outstanding. Insider % = 100 − free float. Public % = free float − institution %. Data: FMP /symbol-positions-summary + /shares-float + SEC EDGAR.
Top Institutional Holders
REFR largest shareholders · institutional ownership
Q3 2025 · SEC 13F
Showing top 10 holders
| Holder | Shares | % Owned | Weight | Value | Reported | Change |
|---|---|---|---|---|---|---|
MGO ONE SEVEN LLC patent owners & lessors | 991.5K | 2.95% | 2.95% | $1.58B | Oct 24, 2025 | ▲ 13.0K |
COLONY GROUP, LLC patent owners & lessors | 890.4K | 2.65% | 2.65% | $1.42B | Nov 14, 2025 | ▼ 60.1K |
VANGUARD GROUP INC patent owners & lessors | 646.1K | 1.92% | 1.92% | $1.03B | Nov 7, 2025 | ▲ 20.9K |
BLACKROCK, INC. patent owners & lessors | 601.3K | 1.79% | 1.79% | $956.03M | Nov 12, 2025 | ▲ 861 |
GEODE CAPITAL MANAGEMENT, LLC patent owners & lessors | 308.1K | 91.57% | 91.57% | $490.02M | Nov 12, 2025 | ▲ 4.8K |
CITADEL ADVISORS LLC patent owners & lessors | 151.3K | 44.97% | 44.97% | $240.57M | Nov 14, 2025 | ▲ 129.0K |
KINGSVIEW WEALTH MANAGEMENT, LLC patent owners & lessors | 143.2K | 42.57% | 42.57% | $227.74M | Nov 12, 2025 | ▼ 15.2K |
SHUFRO ROSE & CO LLC patent owners & lessors | 112.8K | 33.52% | 33.52% | $127.46M | Nov 12, 2025 | — held |
STATE STREET CORP patent owners & lessors | 105.6K | 31.39% | 31.39% | $167.94M | Nov 14, 2025 | — held |
SUSQUEHANNA INTERNATIONAL GROUP, LLP patent owners & lessors | 91.9K | 27.30% | 27.30% | $146.08M | Nov 14, 2025 | ▼ 38.4K |
Data from SEC Form 13F filings. Ownership bar normalised to largest holder. Change flags: isNew / isSoldOut / changeInSharesNumber (FMP extract-analytics/holder).
Institutional Activity
Q3 2025 vs prior quarter
Q3 2025
8
Increased
+174.3K shares2
New Positions
first time holders6
Decreased
−127.6K shares3
Sold Out
fully exitedNet shares change (top 50)
+46.7K
+174.3K / −127.6K
Net new holders
+1
2 new / 3 exited
Based on top 50 institutional holders by position size. Fields: isNew, isSoldOut, changeInSharesNumber (FMP extract-analytics/holder, limit=50).
Insider Buying vs Selling
REFR insider trading · insider activity
Source: SEC Form 4
Insiders have been net buyers of shares recently. Selling may be driven by pre-scheduled Rule 10b5-1 plans rather than negative sentiment.
1
Buy transactions
0
Sell transactions
0.00
Buy/Sell ratio
$0M
Total disposed
Recent Insider Transactions
Showing 10 most recent · Common Stock only
| Name · Role | Date | Type | Shares | Price | Value | After Trans. | Filing |
|---|---|---|---|---|---|---|---|
Daigle Darryl director | Dec 31, 2025 | Award | 45,000 | $1.33 | $59.9K | 361.0K | Form 4 ↗ |
HARARY JOSEPH M President and CEO | Dec 31, 2025 | Award | 65,000 | $1.33 | $86.5K | 355.0K | Form 4 ↗ |
Kaganowicz Alexander director | Dec 31, 2025 | Award | 45,000 | $1.33 | $59.9K | 361.0K | Form 4 ↗ |
HARARY JOSEPH M President and CEO | Dec 31, 2024 | Award | 60,000 | $1.68 | $100.8K | 290.0K | Form 4 ↗ |
LAPOINTE MICHAEL R VP-Marketing | Dec 31, 2024 | Award | 6,000 | $1.68 | $10.1K | 46.0K | Form 4 ↗ |
Daigle Darryl director | Dec 31, 2024 | Award | 45,000 | $1.68 | $75.6K | 327.5K | Form 4 ↗ |
Kaganowicz Alexander director | Dec 31, 2024 | Award | 45,000 | $1.68 | $75.6K | 327.5K | Form 4 ↗ |
Peso Eyal director | Dec 31, 2024 | Award | 45,000 | $1.68 | $75.6K | 90.0K | Form 4 ↗ |
Kaganowicz Alexander director | Jun 14, 2024 | Purchase | 2,000 | $1.94 | $3.9K | 164.9K | Form 4 ↗ |
Daigle Darryl
| Jun 7, 2024 | Purchase | 4,300 | $1.74 | $7.5K | 33.9K | Form 4 ↗ |
Source: /insider-trading/search (FMP stable). Buy/Sell direction: acquisitionOrDisposition A=Buy, D=Sell. RSU vesting (M-Exempt) excluded from sentiment bar. All data from SEC EDGAR public filings.
About institutional & insider ownership
Research Frontiers Incorporated (REFR) is primarily owned by institutional investors, who hold approximately 12.1% of total shares outstanding. Company insiders own approximately 22.02%, while retail and public investors account for the remaining 65.92%.
The largest institutional shareholder of Research Frontiers Incorporated is MGO ONE SEVEN LLC, holding approximately 991,454 shares — equal to 2.95% of outstanding shares — as of September 30, 2025.
A total of 31 institutional investors currently hold REFR stock, with a combined institutional value of approximately $6,633,604 as of the most recent 13F filing period.
Frequently asked questions
REFR ownershipResearch Frontiers Incorporated (REFR) is primarily owned by institutional investors, who hold approximately 12.1% of shares. The largest shareholder is MGO ONE SEVEN LLC with a 2.95% stake. Company insiders hold 22.02%. Data sourced from SEC Form 13F as of September 30, 2025.