REF · Reformation Inc. · Shareholders & Ownership
One customer — 23% of receivables (2025)
“These risks are further heightened by the fact that our net accounts receivable are highly concentrated, with a single customer accounting for 23% of our consolidated accounts receivable as of 2025.”
Every disclosed holder of REF in one list: 13F institutions, Schedule 13D and 13G filers, insiders (Forms 3, 4 and 5) and registered funds, each from its own latest filing. Holders nest by CIK and SEC reporting links, never by name, and each is summed once.
Who Owns REF
13F quarter Sep 30, 2026No chart: the summed disclosures exceed shares outstanding, so they are not parts of one whole.
| Holder group | Shares | % Out |
|---|---|---|
| Institutional (13F) | 91,000 | 0.15% |
| Insiders (Forms 3, 4, 5) | 74,710,248 | 126.46% |
| 13D/G-only blocks | 0 | 0.00% |
| Remaining | 15,721,928 | -26.61% |
| Registered funds (N-PORT, not summed) | 2,569,380 | 4.35% |
Shares outstanding: 59,079,320, the issuer's latest cover-page count restated onto today's split basis.
Remaining is negative: the summed disclosures exceed shares outstanding, as when filings are dated at different times or holders that do not disclose their links count the same shares. It is flagged, not clipped.
13D/G-only counts each filer's latest 13D or 13G that no 13F report of the listing contains, that names no 13F filer and that no counted insider files. Funds are never summed: their shares sit inside their advisers' 13F reports.
Holders of REF
| # | Holder | Shares | As of | Notes |
|---|---|---|---|---|
| 1 |
|
32,078,948 | ||
| 2 |
|
28,942,153 | ||
| 3 |
|
11,665,505 | ||
| 4 |
|
1,194,407 | ||
| 5 |
Federated Hermes Kaufmann Small Cap Fund
Fund
S000009730 · Registered fund · Jul 31, 2026
Federated Hermes Equity Funds, not summed
|
600,000 | ||
| 6 |
Harbor Small Cap Growth Fund
Fund
S000000686 · Registered fund · Jul 31, 2026
HARBOR FUNDS, not summed
|
524,330 | ||
| 7 |
Franklin Small Cap Growth Fund
Fund
S000006889 · Registered fund · Jul 31, 2026
Franklin Strategic Series, not summed
|
444,373 | ||
| 8 |
SmallCap Growth Fund I
Fund
S000007175 · Registered fund · Jul 31, 2026
Principal Funds, Inc, not summed
|
404,501 | ||
| 9 |
|
324,781 | ||
| 10 |
|
266,313 | ||
| 11 |
Emerald Growth Fund
Fund
S000093696 · Registered fund · Jul 31, 2026
RBB Fund, Inc., not summed
|
256,586 | ||
| 12 |
|
186,835 | ||
| 13 |
Fidelity Blue Chip Growth Fund
Fund
S000007195 · Registered fund · Jul 31, 2026
Fidelity Securities Fund, not summed
|
171,400 | ||
| 14 |
Neuberger Long Short Fund
Fund
S000035446 · Registered fund · Jul 31, 2026
NEUBERGER BERMAN ALTERNATIVE FUNDS, not summed
|
97,412 | ||
| 15 |
Skylands Capital, LLC
13F
CIK 1299910 · Registered investment adviser · Sep 30, 2026
|
91,000 | ||
| 16 |
Fidelity Blue Chip Growth K6 Fund
Fund
S000057284 · Registered fund · Jul 31, 2026
Fidelity Securities Fund, not summed
|
35,800 | ||
| 17 |
Fidelity Series Blue Chip Growth Fund
Fund
S000042624 · Registered fund · Jul 31, 2026
Fidelity Securities Fund, not summed
|
28,500 | ||
| 18 |
|
19,607 | ||
| 19 |
|
12,833 | ||
| 20 |
|
9,533 | ||
| 21 |
|
9,333 | ||
| 22 |
Federated Hermes Muni and Stock Advantage Fund
Fund
S000009076 · Registered fund · Jul 31, 2026
Federated Hermes Income Securities Trust, not summed
|
4,178 | ||
| 23 |
MFS Global Alternative Strategy Fund
Fund
S000019515 · Registered fund · Jul 31, 2026
MFS Series Trust XV, not summed
|
1,411 | ||
| 24 |
Federated Hermes Mid-Cap Index Fund
Fund
S000009098 · Registered fund · Jul 31, 2026
Federated Hermes Index Trust, not summed
|
445 | ||
| 25 |
Federated Hermes Max-Cap Index Fund
Fund
S000009097 · Registered fund · Jul 31, 2026
Federated Hermes Index Trust, not summed
|
444 |
Shares are restated onto today's split basis. Change compares each row with the same holder's previous filing in the same source; a dash means there is none to compare. Nested 13D/G, insider and fund rows are not summed, since a 13F report already holds them.