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Advanced Flower Capital

AFCG on Nasdaq. Market value $75m.

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Should I look at this?

We have not checked this company yet

This is not advice.

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Who owns it

None of the long-term investors we follow own it. 44 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

2 investors own more than 5%.

  • Leonard M. Tannenbaum
    Insider or founder
    31.6%+1.2 pts
    Since 11 September 2026
  • CDC Financial, Inc.
    Passive investor
    at least 8.6%+1.5 pts
    (filed with 4 related holders)
    Since 30 June 2026
  • BlackRock, Inc.
    Passive investor
    Sold down below 5%
    Since 31 March 2026

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 4 insiders bought $4m of shares on the open market.

Cluster buy3 insiders bought within 30 days (14 August 2026 to 11 September 2026).
  • TANNENBAUM LEONARD M
    Director
    Bought
    Date
    30 September 2026
    Shares
    44,643
    Price
    $3.63
    Value
    $162,054
  • TANNENBAUM LEONARD M
    Director
    Bought
    Date
    29 September 2026
    Shares
    40,081
    Price
    $3.59
    Value
    $143,891
  • TANNENBAUM LEONARD M
    Director
    Bought
    Date
    28 September 2026
    Shares
    10,673
    Price
    $3.57
    Value
    $38,103
  • TANNENBAUM LEONARD M
    Director
    Bought
    Date
    25 September 2026
    Shares
    5,228
    Price
    $3.52
    Value
    $18,403
  • TANNENBAUM LEONARD M
    Director
    Bought
    Date
    24 September 2026
    Shares
    20,000
    Price
    $3.49
    Value
    $69,800
  • TANNENBAUM LEONARD M
    Director
    Bought
    Date
    23 September 2026
    Shares
    3,471
    Price
    $3.49
    Value
    $12,114
  • TANNENBAUM LEONARD M
    Director
    Bought
    Date
    22 September 2026
    Shares
    23,072
    Price
    $3.49
    Value
    $80,521
  • TANNENBAUM LEONARD M
    Director
    Bought
    Date
    18 September 2026
    Shares
    10,000
    Price
    $3.49
    Value
    $34,900
  • TANNENBAUM LEONARD M
    Director
    Bought
    Date
    17 September 2026
    Shares
    25,000
    Price
    $3.50
    Value
    $87,500
  • TANNENBAUM LEONARD M
    Director
    Bought
    Date
    16 September 2026
    Shares
    2,341
    Price
    $3.43
    Value
    $8,030

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 4 Mar 2026, plus the 10-Q filed 13 Aug 2026 and 9 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.