TON Strategy
Accumulates and stakes Gram while winding down inherited social-commerce operations.
$3.23
After-hours close−0.03 (−0.92%)
At close$3.26(−4.68%)
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Breakdown13F · Form 4
Institutions 27.34%15.45M sharesInsiders 20.48%11.58M sharesOther 52.18%29.50M shares
Shares outstanding 56.53M · Float 32.31M · 57.2% free float
Institutions13F, as of Mar 31, 2026
44 holders · 15.45M shares · 10 new positions · 19 increased · 13 reduced · 22 closed
| Holder | Shares | % outstanding | Chg q/q | Filed |
|---|---|---|---|---|
| Aristeia Capital LLC | 4.90M | 8.66% | +45.7K | May 15, 2026 |
| Vanguard Capital Management LLC | 2.29M | 4.05% | +2.29Mnew | May 15, 2026 |
| Ribbit Management Company, LLC | 1.58M | 2.79% | 0 | May 15, 2026 |
| Saba Capital Management, L.P. | 791.3K | 1.40% | −36.7K | May 15, 2026 |
| DRW Securities, LLC | 788.6K | 1.40% | −21.5K | May 13, 2026 |
| BlackRock, Inc. | 720.9K | 1.28% | −11.2K | May 13, 2026 |
| UBS Group AG | 686.4K | 1.21% | +609.5K | May 5, 2026 |
| Yorkville Advisors Global, LP | 600.0K | 1.06% | 0 | May 13, 2026 |
Beneficial owners13D/G · 5% or more, as filed
| Holder | % of class | Shares | Form | Filed |
|---|---|---|---|---|
| James P. Geiskopf | 25.70% | 13D | Aug 5, 2025 ↗ | |
| Kingsway Capital Partners Limitedincl. SP15 Digital Ltd, Manuel Stotz +6 more | 19.93% | 12.02M | 13D | Aug 18, 2025 ↗ |
| Corsair Capital Management, L.P.incl. Corsair Capital Investors, Ltd, Corsair Capital Partners, L.P. +3 more | 9.60% | 13G | Oct 16, 2024 ↗ | |
| Aristeia Capital, L.L.C. | 8.66% | 4.90M | 13G | Apr 2, 2026 ↗ |
InsidersForm 4
| Insider | Role | Shares | % outstanding | Filed |
|---|---|---|---|---|
| Aristeia Capital, L.L.C. | other: See Remarks | 3.38M | 5.98% | Apr 10, 2026 |
| Manuel Stotz | director, 10 percent owner: | 2.30M | 4.06% | Sep 29, 2025 |
| Sarah Josephine Olsen | officer: CFO & COO | 1.31M | 2.32% | Aug 17, 2026 |
| Kevin Mark Wilson | officer: Chief Executive Officer | 1.15M | 2.04% | Aug 14, 2026 |
| James P. Geiskopf | director, 10 percent owner: | 800.8K | 1.42% | Aug 5, 2025 |
| Veronika Kapustina | officer: Chief Executive Officer | 631.9K | 1.12% | Oct 9, 2025 |
| Anthony M. Frascella | other: See Remarks | 467.9K | 0.83% | Apr 10, 2026 |
| William R. Techar | other: See Remarks | 467.9K | 0.83% | Apr 10, 2026 |
| Mary Marbach | officer: General Counsel/Corp Secretary | 314.1K | 0.56% | Jul 22, 2026 |
| Evan Sohn | director | 155.4K | 0.27% | Aug 28, 2026 |
1 ten-percent owner holds 3.5K shares by Form 4 — the 13D/G table above shows that stake, the figure above counts officers and directors only · 8 people have not refiled in the last 18 months (45.6K shares), so they are not in the figure above
Latest trades
| Date | Insider | Type | Shares | Avg price | Owned after |
|---|---|---|---|---|---|
| Aug 14, 2026 | Sarah Josephine Olsenofficer: CFO & COO | Sale | 217,450 | $2.75 | 1,310,490 |
| Aug 14, 2026 | Kevin Mark Wilsonofficer: Chief Executive Officer | Purchase · 2 lots | 3,600 | $2.67 | 1,152,820 |
| Aug 13, 2026 | Kevin Mark Wilsonofficer: Chief Executive Officer | Purchase | 3,700 | $2.76 | 1,149,220 |
| May 14, 2026 | Evan Sohndirector | Purchase · 2 lots | 5,540 | $3.59 | 5,399 |
| May 14, 2026 | Kevin Mark Wilsonofficer: Chief Executive Officer | Purchase · 2 lots | 16,040 | $3.66 | 8,020 |
| May 15, 2026 | Mary Marbachofficer: General Counsel/Corp Secretary | Purchase | 1,600 | $3.52 | 1,600 |
| May 14, 2026 | Sarah Josephine Olsenofficer: CFO & COO | Purchase | 7,440 | $3.62 | 7,440 |
| Dec 16, 2025 | Rory J. Cutaiadirector | Sale | 54,494 | $2.53 | 12,506 |
| Dec 15, 2025 | Rory J. Cutaiadirector | Sale | 34,132 | $2.63 | 67,000 |
| Dec 5, 2025 | Rory J. Cutaiadirector | Sale · 2 lots | 30,200 | $156.50 | 252,581 |
CongressHouse and Senate disclosures
Not reported.