TON Strategy Co
TONX- Exchange
- Nasdaq
- Industry
- Finance Services
- SEC CIK
- 0001566610
In the last 90 days, TON Strategy Co insiders filed 1 open-market purchase and 5 sales; 40 institutions reported holding it in 13F filings for Q2 2026, worth $86.3M in total; no superinvestor holds it.
Key figures
- Market capClose on Nov 10, 2026
- $177.3M
- Insider buysLast 90 days, $19.8K in total
- 1
- Insider sellsLast 90 days, $821.6K in total
- 5
- 13F holdersQ2 2026, 0 vs. previous quarter
- 40
- 13F valueReported value at the end of Q2 2026
- $86.3M
- Superinvestors holdingAt the end of Q2 2026
- 0
Price chart
Financials
See financial statementsFrom SEC filings, in USD.
- Revenue, FY2025
- $12.8M
- +1,327.8% year over year
- Net income, FY2025
- -$148.5M
- No comparable prior period
- Free cash flow, FY2025
- -$20.9M
- No comparable prior period
- Revenue, Q2 FY2026
- $15.0M
- +607.4% year over year
Revenue flow, FY2025
Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue.
Net loss for FY2025: $148.5M (1161.9% of revenue).
Short interest
See short dataFrom FINRA, settlement date Oct 30, 2026.
- Short interest
- 2.88M
- Shares sold short
- Change
- −17.1K
- −0.6% vs. previous
- Days to cover
- 12.73
- At average daily volume
Superinvestors holding TONX, Q2 2026
Go to the superinvestors tabNo superinvestor reported holding TONX at the end of Q2 2026.
Latest insider trades
See all insider tradesOpen-market purchases and sales by TON Strategy Co insiders from Form 4, newest first.
| Filed (ET) | Trade date | Filing delay | Insider | Transaction | Shares | Avg price | Value | Holding change | Flags |
|---|---|---|---|---|---|---|---|---|---|
| Nov 10, 2026 (view filing)4:00 PM ET | Nov 9 | 1 day | Olsen Sarah JosephineCFO & COO | SSale | −10.3K | $2.74 | −$28.3K | −0.8%1.27M after | |
| Nov 4, 2026 (view filing)5:07 PM ET | Nov 3 | 1 day | Marbach MaryGeneral Counsel/Corp Secretary | SSale | −28.0K | $2.87 | −$80.4K | −8.9%286.1K after | 2 lots |
| Nov 4, 2026 (view filing)5:06 PM ET | Nov 3 | 1 day | Olsen Sarah JosephineCFO & COO | SSale | −25.4K | $2.87 | −$73.0K | −1.9%1.29M after | 2 lots |
| Sep 8, 2026 (view filing)4:00 PM ET | Sep 4 | 4 days | Rivard Bill JohnChief Accounting Officer | SSale | −12.5K | $3.30 | −$41.3K | −21.6%45.3K after | |
| Aug 17, 2026 (view filing)5:00 PM ET | Aug 14 | 3 days | Olsen Sarah JosephineCFO & COO | SSale | −217.4K | $2.75 | −$598.7K | −14.2%1.31M after | |
| Aug 14, 2026 (view filing)4:45 PM ET | Aug 13-14 | 1 day | Wilson Kevin MarkChief Executive Officer | PPurchase | +7.30K | $2.71 | +$19.8K | +0.6%1.15M after | 3 lots |
| May 15, 2026 (view filing) | May 15 | Same day | Marbach MaryGeneral Counsel/Corp Secretary | PPurchase | +1.60K | $3.52 | +$5.63K | New position1.60K after | |
| May 15, 2026 (view filing) | May 14 | 1 day | Wilson Kevin MarkChief Executive Officer | PPurchase | +8.02K | $3.66 | +$29.4K | New position8.02K after | Amended |
| May 15, 2026 (view filing) | May 14 | 1 day | Sohn EvanDirector | PPurchase | +2.77K | $3.59 | +$9.94K | +105.4%5.40K after | Amended |
| May 14, 2026 (view filing) | May 14 | Same day | Olsen Sarah JosephineCFO & COO | PPurchase | +7.44K | $3.62 | +$26.9K | New position7.44K after |
Top 10 13F holders, Q2 2026
See all 40 holdersThe largest institutional positions in TON Strategy Co at the end of Q2 2026; share changes are against Q1 2026.
| Institution | Shares | Value | % of portfolio | Change in shares | Action |
|---|---|---|---|---|---|
| Kingsway Capital Partners Ltd | 12,091,720 | $30.8M | 4.19% | +12,091,720 | New |
| VY Capital Management Co. Ltd. | 6,125,821 | $15.6M | 0.03% | +6,125,821 | New |
| Aristeia Capital LLC | 4,895,110 | $12.5M | 0.20% | 00.0% | Unchanged |
| Vanguard Capital Management LLC | 2,185,301 | $5.57M | 0.00% | −102,687−4.5% | Reduced |
| Ribbit Management Company, LLC | 1,577,287 | $4.02M | 0.20% | 00.0% | Unchanged |
| Long Corridor Asset Management Ltd | 1,027,206 | $2.62M | 0.79% | +1,027,206 | New |
| BlackRock, Inc. | 854,838 | $2.18M | 0.00% | +133,955+18.6% | Added |
| UBS Group AG | 798,578 | $2.04M | 0.00% | +112,137+16.3% | Added |
| DRW Securities, LLC | 788,644 | $2.01M | 0.12% | 00.0% | Unchanged |
| Saba Capital Management, L.P. | 717,327 | $1.83M | 0.06% | −73,941−9.3% | Reduced |
Holders of 5% or more of TONX
See all 2 holders and filingsHolders whose latest Schedule 13D or 13G filing reports 5% or more of TON Strategy Co.
| Holder | Latest form | Stake | Change | First filed | Latest filing | Filing |
|---|---|---|---|---|---|---|
| Stotz Manuel | 13D/A | 21.96%12.1M shares | +2.03 ppfrom 19.93% | Aug 14, 20253 filings | Oct 27, 2026 | SEC |
| Aristeia Capital LLC | 13G/A | 8.66%4.90M shares | +0.45 ppfrom 8.21% | Feb 17, 20262 filings | Apr 2, 2026 | SEC |