Bandwidth, Inc.

BAND • NASDAQ

Bandwidth, Inc. is a software - infrastructure company in the technology sector on NASDAQ, with a market cap of $466.1M. As of Q3 2025, 68% of shares are held by 154 institutional investors, with BlackRock, Inc. as the largest holder at 9.51%.

Market Cap$466.1M

Software - Infrastructure

Technology

Employees1.1K

Websitebandwidth.com

Country

United States of America

Overview

Overview of institutional ownership in BAND as of Q3 2025 with a market cap of $502.5M

All Institutions

Institutions: 154
Value Held: $344.0M
Shares Held: 20.6M
Avg Position: $2.2M
Median Position: $269.8K

Hedge Funds

Hedge Funds: 24
Value Held: $63.7M
Shares Held: 3.8M
Avg Position: $2.7M
Median Position: $1.1M

Ownership Breakdown

Institutional (non-HF)

55.77%

$280.2M

Hedge Funds

12.69%

$63.7M

Retail & Other

31.54%

$158.5M

Based on market cap of $502.5M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in BAND as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BlackRock, Inc. Institution	-	$47.8M 0.00% of portfolio	9.51% 2.9M shares	Q4 2017 Held for 7y 11m	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$33.1M 0.00% of portfolio	6.60% 2.0M shares	Q4 2017 Held for 7y 11m	$6.69T
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$24.4M 0.01% of portfolio	4.86% 1.5M shares	Q2 2019 Held for 6y 5m	$466.32B
ACADIAN ASSET MANAGEMENT LLC Long Only Manager	Gillian Morna Therese Savage CEO	$13.3M 0.03% of portfolio	2.66% 800.3K shares	Q1 2022 Held for 3y 8m	$51.5B
Portolan Capital Management, LLC Hedge Fund•Long/Short	George Frederic Mccabe CIO	$12.4M 0.67% of portfolio	2.47% 745.8K shares	Q2 2025 Held for 5 months	$1.8B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$11.1M 0.00% of portfolio	2.21% 664.9K shares	Q1 2018 Held for 7y 8m	$1.57T
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	Peter Fitzhugh Brown CEO	$10.8M 0.01% of portfolio	2.15% 648.9K shares	Q3 2020 Held for 5y 2m	$75.8B
AMERIPRISE FINANCIAL INC Institution	Jim Cracchiolo CEO	$10.7M 0.00% of portfolio	2.13% 642.3K shares	Q3 2022 Held for 3y 2m	$433.11B
Connor, Clark & Lunn Investment Management Ltd. Long Only Manager	John Wyatt Ricketts President	$10.7M 0.03% of portfolio	2.13% 641.2K shares	Q1 2022 Held for 3y 8m	$31.7B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$10.5M 0.00% of portfolio	2.10% 632.8K shares	Q4 2018 Held for 6y 11m	$2.88T

Net Capital Flow

Institutional buying and selling activity for BAND in Q3 2025

Traded: −$5.1M
Buyers: 72
Sellers: 72
Total Bought: +$29.5M
Total Sold: −$34.5M
Avg Position: $2.0M

Biggest Buyers

Institution	Net Bought	Current Position
Portolan Capital Management, LLC Hedge Fund•Long/Short	+$6.7M +400.2K shares	$12.4M 745.8K shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	+$4.8M +290.4K shares	$7.3M 437.3K shares
A Assenagon Asset Management S.A. Institution	+$2.3M +136.6K shares	$5.5M 327.9K shares
ALGERT COLDIRON INVESTORS LLC Hedge Fund•Quant	+$1.7M +103.2K shares	$2.7M 161.0K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$1.2M +72.6K shares	$2.8M 166.5K shares
ACADIAN ASSET MANAGEMENT LLC Long Only Manager	+$1.2M +71.6K shares	$13.3M 800.3K shares
VANGUARD GROUP INC Institution	+$1.1M +67.4K shares	$33.1M 2.0M shares
GSA CAPITAL PARTNERS LLP Hedge Fund•Quant	+$1.1M +66.0K shares	$1.1M 66.0K shares
AMERIPRISE FINANCIAL INC Institution	+$1.0M +61.0K shares	$10.7M 642.3K shares
Archon Capital Management LLC Hedge Fund•Long/Short	+$954.1K +57.2K shares	$5.8M 348.9K shares

Biggest Sellers

Institution	Net Sold	Current Position
UBS Group AG Institution	−$3.9M −235.8K shares	$1.2M 71.0K shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	−$3.0M −180.8K shares	$3.2M 192.4K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$2.6M −155.2K shares	$7.2M 432.1K shares
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	−$2.2M −136.0K shares	Sold Off 0 shares
BANK OF AMERICA CORP /DE/ Institution	−$2.1M −124.1K shares	$1.4M 86.7K shares
D D. E. Shaw & Co., Inc. Institution	−$1.6M −98.7K shares	$6.1M 367.3K shares
JACOBS LEVY EQUITY MANAGEMENT, INC Hedge Fund•Quant	−$1.5M −87.8K shares	$6.4M 386.3K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$1.4M −89.1K shares	Sold Off 0 shares
Q Qube Research & Technologies Ltd Institution	−$1.2M −73.5K shares	$4.4M 266.9K shares
N Nuveen, LLC Institution	−$1.2M −72.7K shares	$5.7M 343.2K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited BAND in Q3 2025

New Positions: 4
New Value: $229.3K
Exited Positions: 19
Exited Value: $8.1M

New Positions

Institution	Position Value
HPM Partners LLC RIA/Wealth	$212.8K 12.8K shares
S State of Alaska, Department of Revenue Institution	$14.7K 882.0 shares
Halbert, Hargrove/Russell LLC RIA/Wealth	$1.4K 84.0 shares
Sunbelt Securities, Inc. RIA/Wealth	$317.0 19.0 shares

Exited Positions

Institution	Previous Position
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$2.2M 136.0K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$1.4M 89.1K shares
PENN CAPITAL MANAGEMENT CO INC Long Only Manager	$1.1M 71.1K shares
THRIVENT FINANCIAL FOR LUTHERANS Insurance Manager	$856.1K 53.8K shares
Magnetar Financial LLC Hedge Fund•Multi-Strategy	$471.4K 29.6K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$434.2K 27.3K shares
M Man Group plc Institution	$336.0K 21.1K shares
C Corton Capital Inc. Institution	$225.4K 14.2K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	$223.9K 14.1K shares
W Winton Capital Group Ltd Institution	$223.5K 14.1K shares

Options Activity

Institutions with the largest Call and Put options positions in BAND as of Q3 2025

Call Positions: 5
Call Value: $2.4M
Put Positions: 3
Put Value: $770.2K

Call Positions

Institution	Position Value
P PEAK6 LLC Institution	$1.0M 618.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$703.5K 422.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$681.8K 409.0 contracts
J JANE STREET GROUP, LLC Institution	- - contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	- - contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$588.5K 353.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$181.7K 109.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	- - contracts

Most Committed Institutions

Institutions with BAND as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Archon Capital Management LLC Hedge Fund•Long/Short	Constantinos John Christofilis Managing Partner	3.47% $5.8M	1.16% 348.9K shares	Q1 2025 Held for 8 months	$167.6M
P Palogic Value Management, L.P. RIA/Wealth	Scott Aubrey Williams Partner	1.43% $3.3M	0.66% 200.0K shares	Q4 2022 Held for 2y 11m	$233.1M
Portolan Capital Management, LLC Hedge Fund•Long/Short	George Frederic Mccabe CIO	0.67% $12.4M	2.47% 745.8K shares	Q2 2025 Held for 5 months	$1.8B
H Herald Investment Management Ltd Institution	-	0.47% $3.5M	0.70% 210.0K shares	Q1 2019 Held for 6y 8m	$745.8M
Parcion Private Wealth LLC RIA/Wealth	Terrance Leo Cook Managing Partner	0.25% $3.9M	0.79% 236.8K shares	Q4 2019 Held for 5y 11m	$1.6B
LAKEWOOD CAPITAL MANAGEMENT, LP Hedge Fund•Long/Short	Anthony Theodore Bozza Managing Partner	0.23% $3.0M	0.60% 180.7K shares	Q3 2023 Held for 2y 2m	$1.3B
Dana Investment Advisors, Inc. Long Only Manager	Mark Richard Mirsberger CEO	0.23% $7.5M	1.49% 449.8K shares	Q1 2024 Held for 1y 8m	$3.3B
GLOBEFLEX CAPITAL L P Long Only Manager	Marina Loretta Marrelli CEO	0.18% $1.1M	0.22% 67.8K shares	Q3 2024 Held for 1y 2m	$644.8M
GSA CAPITAL PARTNERS LLP Hedge Fund•Quant	David Khabie-Zeitoune CEO	0.10% $1.1M	0.22% 66.0K shares	Q3 2025 Held for 2 months	$1.1B
C Campbell & CO Investment Adviser LLC Hedge Fund•Quant Macro	Kevin Dwayne Cole CEO	0.07% $931.3K	0.19% 55.9K shares	Q1 2023 Held for 2y 8m	$1.3B

Hedge Fund Spotlight

Discover hedge funds investing in BAND

LAKEWOOD CAPITAL MANAGEMENT, LP

Hedge Fund • Long/Short

Portfolio ManagerAnthony Theodore Bozza

Portfolio Value: $1.3B
Positions: 50
Last Reported: Q3 2025

Sector Allocation

Position in Bandwidth, Inc.

Market Value: $3.0M
Shares Held: 180.7K
Portfolio Weight: 0.23%
Owned Since: 2023-Q3

Top Holding	Sector	Market Value	Weight
1 Elevance Health ELV	Medical - Healthcare Plans Healthcare	$97.5M	7.38%
2 Cigna CI	Medical - Healthcare Plans Healthcare	$97.2M	7.36%
3 Arrow Electronics ARW	Technology Distributors Technology	$69.9M	5.29%