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FRMI · Fermi Inc.
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FRMI Fermi (FRMI) Insider Trading, Ownership & Congress Trades

Real Estate · Real estate investment trusts · CIK 0002071778
Quote by TradingView
Activist 13DForm 144 · 3
Insider buyers, 180 days
0
House members buying, 1 year
0
STOCK Act, US House only, disclosed up to 45 days after the trade
Funds added, last quarter
236
13F, latest reported quarter

What the filings say about FRMI

Insiders, 180 days
-$22.9M net sold
3 sellers · 0% of sales under a 10b5-1 plan
Planned sales (Form 144), 90 days
$15.6M
3 notices
Activist stakes (13D), 180 days
1 filing
Largest: 9.1% of the class

Fermi insider trades (Form 4)

Form 4 buys and sells (codes P and S). Grants, option exercises and conversions excluded.

Over the last 180 days, Fermi Inc. insiders sold a net $22.9M of stock across 14 Form 4 purchases and sales, with no insider buying. Source: SEC Form 4 filings, as of 2026-10-28.

Insider
Filed
Shares
Value
Since filing
NEUGEBAUER TOBY R
SELL
2026-10-22 SECtraded 2026-10-20
420,749
$1.3M
n/a
Context
  • 2 earlier Form 4 trades (code P or S) here by this insider (2 sales), the last on Oct 14, 2026.
  • The trade is 0.5% of the 91,188,910 shares held after it.
  • No other insider sold within 30 days.
  • 236 funds added in the 13F quarter to Jun 30, 2026.
Insider activity: Insider NEUGEBAUER TOBY R sold about $1.3M of FRMI on Oct 20, 2026; 236 funds added in the latest 13F quarter.
NEUGEBAUER TOBY R
SELL
2026-10-15 SECtraded 2026-10-14
1,297,200
$4.1M
-19.3%
Context
  • 1 earlier Form 4 trade (code P or S) here by this insider (1 sale), the last on Oct 13, 2026.
  • The trade is 3.0% of the 43,359,176 shares held after it.
  • No other insider sold within 30 days.
  • 236 funds added in the 13F quarter to Jun 30, 2026.
Insider activity: Insider NEUGEBAUER TOBY R sold about $4.1M of FRMI on Oct 14, 2026; 236 funds added in the latest 13F quarter.
NEUGEBAUER TOBY R
SELL
2026-10-15 SECtraded 2026-10-13
2,750,000
$10.3M
-19.3%
Context
  • First Form 4 purchase or sale (code P or S) here by this insider on our record.
  • The trade is 3.0% of the 91,609,659 shares held after it.
  • No other insider sold within 30 days.
  • 236 funds added in the 13F quarter to Jun 30, 2026.
Insider activity: Insider NEUGEBAUER TOBY R sold about $10.3M of FRMI on Oct 13, 2026; 236 funds added in the latest 13F quarter.
Perry James Richard
Director
SELL
2026-07-02 SECtraded 2026-06-30
863,637
$6.3M
-68.9%
Context
  • First Form 4 purchase or sale (code P or S) here by this insider on our record.
  • The trade is 5.5% of the 15,827,807 shares held after it.
  • 1 other insider sold within 30 days.
  • 236 funds added in the 13F quarter to Jun 30, 2026.
Insider activity: Director Perry James Richard sold about $6.3M of FRMI on Jun 30, 2026; 1 other insider sold within 30 days and 236 funds added in the latest 13F quarter.
Uzman Mesut
Chief Nuclear Constr. Officer
SELL
2026-06-04 SECtraded 2026-06-03
79,509
$501.7K
-55.9%
Context
  • First Form 4 purchase or sale (code P or S) here by this insider on our record.
  • The trade is 11.9% of the 670,491 shares held after it.
  • 1 other insider sold within 30 days.
  • 236 funds added in the 13F quarter to Jun 30, 2026.
Insider activity: Chief Nuclear Constr. Officer Uzman Mesut sold about $501.7K of FRMI on Jun 3, 2026; 1 other insider sold within 30 days and 236 funds added in the latest 13F quarter.
14 transactions on record
Since filing: total return from the first close after the filing to the latest close, dividend-adjusted. Not a forecast.
Context lines are counts over the filings above and returns from our own price history, never a price level. Not investment advice.
See all insider buying · insider selling
Showing the latest few. to see 9 more transactions and use the screener and CSV export. We store only your email; there is no password.
Seven facts, ranked against the sector · Rank is not a forecast
Insiders
net -$22.9M over 180 days
-$15.6M over 90 days · -$15.6M of it by a 10%+ holder
below 96% of Real Estate
Congress
no House purchase disclosed in the last 12 months
Funds
236 funds bought in last quarter
more than 79% of Real Estate
Revenue
no revenue reported in any filing
Margin
no margin: no revenue reported
Buybacks
no share repurchases reported
Short interest
19.6% of the float short (float per yahoo 2026-10-26) · 3.7 days to cover · settled 2026-09-30
more than 88% of Real Estate
The situation: each line is one rule over one dataset
Caddis Holdings, LP disclosed a 5%+ stake (9.1%) in the last six months.
What changed in the last 30 days
Oct 22Insider NEUGEBAUER TOBY R sold $15.6M (3 trades, Oct 13 to Oct 20)
Oct 2010% Stockholder Toby Neugebauer filed to sell $1.2M by Oct 20 (Form 144)
Why it matters
A Form 144 is a notice of intent to sell; the sale may not happen, and it says nothing about the price.
Oct 1410% Stockholder Toby Neugebauer filed to sell $4.1M by Oct 14 (Form 144)
Why it matters
A Form 144 is a notice of intent to sell; the sale may not happen, and it says nothing about the price.
Oct 1310% Stockholder Toby Neugebauer filed to sell $10.2M by Oct 13 (Form 144)
Why it matters
A Form 144 is a notice of intent to sell; the sale may not happen, and it says nothing about the price.

Watch FRMI

A free account keeps a watchlist and can send one email a day when insiders, funds or Congress file on the names in it. No password and no card.

The year, with the filings on it
Total return over 12 months. Each marker is a filing; hover or tap one for the detail.
-87.1%12M
-87%-41%+5%+51%2025-102025-122026-022026-042026-062026-08 2026-03-30 · Perry Griffin sold $45.2M2026-03-31 · Perry Griffin sold $11.1M2026-10-13 · NEUGEBAUER TOBY R sold $10.3M2026-06-30 · Perry James Richard sold $6.3M2026-10-14 · NEUGEBAUER TOBY R sold $4.1M2026-04-08 · Ortiz Blanes Jacobo sold $2.0M2026-04-08 · Everson Miles E. sold $2.0M2026-04-09 · Ortiz Blanes Jacobo sold $2.0M2026-04-09 · Everson Miles E. sold $2.0M2026-04-08 · Hamilton Charles Lynn sold $1.8M2026-04-09 · Hamilton Charles Lynn sold $1.8M2026-10-20 · NEUGEBAUER TOBY R sold $1.3M2026-06-03 · Uzman Mesut sold $501.7K2026-06-03 · Uzman Mesut sold $498.7K2026-05-15 · Caddis Holdings, LP filed a 5%+ stake (9.1%)2026-05-15 · Perry Griffin filed a 5%+ stake (9.1%)2026-10-20 · Toby Neugebauer filed to sell $1.2M2026-10-14 · Toby Neugebauer filed to sell $4.1M2026-10-13 · Toby Neugebauer filed to sell $10.2M
Insider sell13D/G stakeForm 144 (planned sale)
Indexed to 100, dividend-adjusted, not a price chart. When a name files heavily, the largest trades are drawn first.

Who owns FRMI: institutional holders (13F)

13F holdings, latest reported quarter
SRS Investment Management, LLC
20,205,579 sh
$185.1M
CITADEL ADVISORS LLC
8,587,055 sh
$78.7M
Point72 Asset Management, L.P.
7,036,123 sh
$64.5M
D. E. Shaw & Co., Inc.
5,418,891 sh
$49.6M
MILLENNIUM MANAGEMENT LLC
4,303,619 sh
$39.4M

Congress trades in FRMI

No Congress trades reported
No House member has disclosed a trade in this stock. See what Congress is buying.

Activist and 5% holders (13D/13G)

13D: intends to influence · 13G: passive
Caddis Holdings, LP
Activist 13D · 2026-05-15
9.1%
Perry Griffin
Activist 13D · 2026-05-15
9.1%

FRMI planned insider sales (Form 144)

Notice of intent to sell, filed before any sale
Toby Neugebauer
Filed 2026-10-20
$1.2M
Toby Neugebauer
Filed 2026-10-14
$4.1M
Toby Neugebauer
Filed 2026-10-13
$10.2M

FRMI mutual fund holders (N-PORT)

Funds ranked by the share of their own portfolio in this stock (N-PORT).
NexPoint Event Driven Fund
$4.4M position · as of 2026-06-30
6.0%
Davis Real Estate Fund
$3.2M position · as of 2026-06-30
2.5%
Pacer Data & Infrastructure Real Estate ETF
$4.2M position · as of 2026-07-31
1.1%
Sovereign's Capital Flourish Fund
$745.3K position · as of 2026-07-31
0.9%
Meridian Contrarian Fund
$5.1M position · as of 2026-06-30
0.7%
Meridian Small Cap Growth Fund
$2.0M position · as of 2026-06-30
0.7%
SEC N-PORT, monthly, about 60 days late · funds ≥ $10M · % is the share of the fund's own portfolio
Live price
Daily candles from TradingView, under their licence. No filings marked.
Why this name is on the desk
An activist crossed the 5% line with declared intent.
The record shows a net $22.9M sold by insiders over 180 days, 236 funds added last quarter, $15.6M in planned Form 144 sales. Each figure is a federal filing, dated the day it went public.
Backtest this pattern Open the screener
Same sector, ranked by filing activity
Sector by SEC SIC code
EQIXBRTACRFPHIRMNYCSPGOPENMDVMDRRAATAXR

FRMI financials

Ratios from the company's XBRL filings, latest filings
Revenue, TTM
n/a
fewer than four consecutive quarters of revenue filed
Net margin, TTM
n/a
needs four consecutive quarters of both revenue and net income
Free cash flow, TTM
n/a
capex not filed for the four quarters
Debt to equity
1.01x
long-term 2026-06-30 plus current 2026-06-30; equity 2026-06-30
Cash flow to debt
-0.08x
TTM operating cash flow over long-term 2026-06-30 plus current 2026-06-30
Return on equity
-134.9%
TTM net income over average of 2025-06-30 and 2026-06-30
Return on assets
-39.4%
TTM net income over ending balance 2026-06-30
Return on invested capital
n/a
tax provision or pre-tax income not filed for the four quarters
Return on capital employed
n/a
assets or current liabilities not filed
P/E, trailing
n/a
trailing loss, a multiple of a loss is not meaningful
Enterprise value
$2.6B
market value at close 2026-10-23 on 2026-08-10 shares, plus long-term 2026-06-30 plus current 2026-06-30, minus cash 2026-06-30
FCF yield
n/a
capex not filed for the four quarters
PEG, trailing
n/a
trailing loss, a multiple of a loss is not meaningful
Price as of 2026-10-23. Hover or tap a tile for its yearly and quarterly history.
Method
TTM is four consecutive fiscal quarters; Q4 is the year minus nine months when not filed. Returns use the average of opening and closing balances. EBIT is approximated by operating income. PEG uses trailing EPS growth.
Fundamentals
Annual figures from XBRL filings. Pick a past date to see them as known then.
2025-12
Operating income-$177.8M
Net income-$486.4M
EPS (diluted)-1.13
Operating cash flow-$34.2M
Cash$408.5M
Long-term debt$109.8M
SEC XBRL, fiscal years, as known on 2026-10-28

FRMI Stock Sonar score 5/7 axes

Find similar shapesCompare

FRMI ranks highest on institutional and government (79th percentile) and financial health (28th), and lowest on risk and compliance (2nd), among Real Estate peers.

ProfitHealthInsidersInstitutionsRisk
Profitability
2
Inputs
  • Return on equity-134.9% · 2 pct, sector of 230
  • Return on assets-39.4% · 3 pct, sector of 255
  • Return on invested capitaltax provision or pre-tax income not filed for the four quarters
  • Return on capital employedassets or current liabilities not filed
Financial health
28
Inputs
  • Debt to equity1.01x · 49 pct, sector of 210
  • Cash flow to debt-0.08x · 7 pct, sector of 215
Insider conviction
2
Inputs
  • Net Form 4 buying (codes P and S), 180d-$22.9M · 5 pct, sector of 156
  • Insider buyers, 180d0 · 0 pct, sector of 158
Institutional and government
79
Inputs
  • Funds adding, latest quarter236 · 79 pct, sector of 171
  • Congress net buyers, 365dno Congress trades in 365 days
  • Federal contracts, 180dno federal contracts in 180 days
  • Lobbying spend, 4 quartersno lobbying filings in the last four quarters
Risk and compliance
2
Inputs
  • Short interest, % of float+19.6% · 2 pct, sector of 256
  • Recalls per $1B revenue, 3yrevenue under $50M or not filed, so a count cannot be scaled to size
  • EPA cases per $1B revenue, 5yrevenue under $50M or not filed, so a count cannot be scaled to size
  • New text in Risk Factors, latest 10-Kneeds two 10-Ks with a Risk Factors section (not 20-F filers or stubs)
2 not measured: Growth, US patents
  • Growth needs 1 of 2 inputs, 0 present: no backlog line filed, or no year-earlier backlog; no revenue for this year and the year before
  • US patents needs 1 of 2 inputs, 0 present: patent data not loaded yet

5 of 7 axes scored. Each is a percentile against sector peers (all companies when the sector is thin); higher is better. An unscored axis is unmeasured, not low. How it is scored

FRMI filings, in plain words

Are Fermi insiders buying or selling FRMI?

In the 180 days to 2026-10-28, Fermi insiders were net sellers, a net $22.9M across purchases and sales reported on Form 4, by 3 sellers.

Are there planned insider sales of FRMI?

Yes. 3 Form 144 notices of planned insider sales were filed in the 90 days to 2026-10-28, covering $15.6M of stock; the latest, by Toby Neugebauer, was filed 2026-10-20.

Read the full summary

In the 180 days to 2026-10-28, Fermi insiders were net sellers of FRMI, a net $22.9M across purchases and sales reported on Form 4 by 3 sellers. Most of that figure, $15.6M, came from a holder of 10% or more rather than an officer or director. None of the 6 insider sales was flagged as made under a Rule 10b5-1 plan. Insiders filed 3 Form 144 notices of intent to sell in the 90 days to 2026-10-28, covering $15.6M of stock. 1 activist Schedule 13D filing in the last 180 days declared an intent to influence the company, the largest for 9.1% of the class. Each figure is counted from SEC and House filings as of 2026-10-28, dated the day the filing was made public.

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