Fermi Inc.

FRMI

Exchange: Nasdaq
Industry: Real Estate Investment Trusts
SEC CIK: 0002071778

SEC filings (opens in a new tab)

In the last 90 days, Fermi Inc. insiders filed 0 open-market purchases and 3 sales; 297 institutions reported holding it in 13F filings for Q2 2026, worth $1.48B in total; no superinvestor holds it.

Key figures

Market capClose on Nov 10, 2026: $986.3M
Insider buysOpen market, last 90 days: 0
Insider sellsLast 90 days, $28.7M in total: 3
13F holdersQ2 2026, +87 vs. previous quarter: 297
13F valueReported value at the end of Q2 2026: $1.48B
Superinvestors holdingAt the end of Q2 2026: 0

Price chart

Chart by TradingView (opens in a new tab)

Financials

See financial statements

From SEC filings, in USD.

Revenue, FY2025: –; No comparable prior period
Net income, FY2025: -$486.4M; No comparable prior period
Free cash flow, FY2025: -$603.5M; No comparable prior period
Revenue, Q2 FY2026: –; No comparable prior period

Short interest

See short data

From FINRA, settlement date Oct 30, 2026.

Short interest: 58.2M; Shares sold short
Change: −5.20M; −8.2% vs. previous
Days to cover: 2.99; At average daily volume

Superinvestors holding FRMI, Q2 2026

Go to the superinvestors tab

No superinvestor reported holding FRMI at the end of Q2 2026.

Latest insider trades

See all insider trades

Open-market purchases and sales by Fermi Inc. insiders from Form 4, newest first.

Insider trades
Filed (ET)	Trade date	Filing delay	Insider	Transaction	Shares	Avg price	Value	Holding change	Flags
Nov 5, 2026 (view filing)8:26 PM ET	Nov 3-5	2 days	Neugebauer Toby R and 1 other10% Owner	SSale	−7.66M	$1.70	−$13.0M	−8.3%84.8M after	4 lots
Oct 22, 2026 (view filing)5:16 PM ET	Oct 20	2 days	Neugebauer Toby R and 1 other10% Owner	SSale	−420.7K	$3.04	−$1.28M	−0.5%91.2M after
Oct 15, 2026 (view filing)6:07 PM ET	Oct 13-14	2 days	Neugebauer Toby R and 1 other10% Owner	SSale	−4.05M	$3.55	−$14.4M	−8.5%43.4M after	2 lots
Jul 2, 2026 (view filing)8:53 PM ET	Jun 30	2 days	Perry James RichardDirector	SSale	−863.6K	$7.31	−$6.31M	−5.2%15.8M after
Jun 4, 2026 (view filing)	Jun 3	1 day	Uzman MesutChief Nuclear Constr. Officer	SSale	−79.0K	$6.31	−$498.7K	−10.5%671.0K after
Jun 4, 2026 (view filing)	Jun 3	1 day	Uzman MesutChief Nuclear Constr. Officer	SSale	−79.5K	$6.31	−$501.7K	−10.6%670.5K after
Apr 10, 2026 (view filing)	Apr 8-9	2 days	Hamilton Charles LynnChief Site Development Officer	SSale	−774.1K	$4.74	−$3.67M	−12.3%5.53M after	2 lots
Apr 10, 2026 (view filing)	Apr 8-9	2 days	Ortiz Blanes JacoboChief Operating Officer	SSale	−830.9K	$4.74	−$3.94M	−13.2%5.47M after	2 lots
Apr 10, 2026 (view filing)	Apr 8-9	2 days	Everson Miles E.Chief Financial Officer	SSale	−830.2K	$4.74	−$3.94M	−7.7%9.97M after	2 lots
Apr 1, 2026 (view filing)7:11 PM ET	Mar 30-31	2 days	Perry Griffin and 1 other10% Owner	SSaleCommon Stock, $0.001 par value	−11.0M	$5.12	−$56.3M	−15.3%60.9M after	2 lots

Top 10 13F holders, Q2 2026

See all 297 holders

The largest institutional positions in Fermi Inc. at the end of Q2 2026; share changes are against Q1 2026.

Institutions holding FRMI in Q2 2026
Institution	Shares	Value	% of portfolio	Change in shares	Action
SRS Investment Management, LLC	20,205,579	$185.1M	1.73%	+20,205,579	New
Citadel Advisors LLC	8,587,055	$78.7M	0.05%	+2,365,349+38.0%	Added
Point72 Asset Management, L.P.	7,036,123	$64.5M	0.10%	+5,790,511+464.9%	Added
D. E. Shaw & Co., Inc.	5,418,891	$49.6M	0.03%	+4,590,533+554.2%	Added
Millennium Management LLC	4,303,619	$39.4M	0.03%	+4,244,460+7,174.7%	Added
BlackRock, Inc.	4,202,985	$38.5M	0.00%	+3,397,240+421.6%	Added
Marshall Wace, LLP	4,160,290	$38.1M	0.03%	+3,883,540+1,403.3%	Added
ExodusPoint Capital Management, LP	4,068,302	$37.3M	0.34%	+4,037,542+13,125.9%	Added
Gotham Asset Management, LLC	3,943,404	$36.1M	0.08%	+3,586,239+1,004.1%	Added
Highland Capital Management Fund Advisors, L.P.	3,941,477	$36.1M	2.41%	+2,639,999+202.8%	Added

Holders of 5% or more of FRMI

See all 3 holders and filings

Holders whose latest Schedule 13D or 13G filing reports 5% or more of Fermi Inc..

Largest holders of FRMI from 13D and 13G filings
Holder	Latest form	Stake	Change	First filed	Latest filing	Filing
Neugebauer Toby R	13G	24.10%144.1M shares	New	Nov 14, 20251 filing	Nov 14, 2025	SEC
Perry Griffin	13G/A	9.70%60.9M shares	−2.97 ppfrom 12.67%	Nov 14, 20252 filings	Apr 15, 2026	SEC
Caddis Holdings, LP	13G	8.20%52.3M shares	0.00 ppfrom 8.20%	May 15, 20264 filings	Jul 20, 2026	SEC