CARLSMED, INC. (CARL)

Accumulating

Institutional accumulation: ownership increased +1.92% quarter-over-quarter.

Data as of Q1 2026

Institutional Ownership

19.49%

QoQ Change

+1.92%

Total Value

$47.9B

Shares Outstanding

27.2M

Crowding AnalysisCrowded

Holders65of 5,944

Avg: 68

Uncrowded84th percentileCrowded

Institutional Activity

Buy/Sell Ratio1.23x

63th percentile

37 buying30 selling

+21

New

-12

Closed

+628K

Net shares

Holding Period Distribution

estimate

Median: 2 QAvg: 2.1 QHolders: 65

Ownership Concentration

Top 5: 70.4%Top 10: 88.2%

ORBIMED ADVISORS23.6%

JANUS HENDERSON GROUP23.2%

Parkman Healthcare Partners9.8%

BlackRock,8.4%

Schonfeld Strategic Advisors5.3%

Others (60)29.6%

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Conviction-Weighted Ownership

Median weight: 0.00%Avg weight: 0.10%Max: 0.49%High conviction (>1%): 0

ORBIMED ADVISORS

JANUS HENDERSON GROUP

Parkman Healthcare Partners

BlackRock,

Schonfeld Strategic Advisors

VANGUARD CAPITAL MANAGEMENT

KCM Capital

GEODE CAPITAL MANAGEMENT,

Russell Investments Group,

STATE STREET

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Whale Moves Timeline (2 Quarters)

Biggest dollar-value position changes among top 10 holders

NEWParkman Healthcare Partners$5M521K shr

NEWSchonfeld Strategic Advisors$3M283K shr

NEWVANGUARD CAPITAL MANAGEMENT$2M276K shr

NEWKCM Capital$2M200K shr

BOUGHTJANUS HENDERSON GROUP$786K87K shr

BOUGHTVANGUARD GROUP$2M133K shr

NEWMILLENNIUM MANAGEMENT$2M129K shr

NEWSTATE STREET$851K69K shr

BOUGHTJANUS HENDERSON GROUP$594K48K shr

BOUGHTBlackRock$519K42K shr

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Institutional Trends (3 Quarters)

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Institutional Holders

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