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Ameresco

AMRC on NYSE. Market value $1.1bn.

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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

3 long-term investors we follow own it, unchanged from 3 last quarter. 185 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

6 investors own more than 5%.

  • Sakellaris George P
    Passive investor
    39.5%
    Since 31 December 2024
  • at least 10.2%−1.0 pts
    (filed with 3 related holders)
    Since 31 March 2026
  • GMO
    Passive investor
    6.7%−2.6 pts
    Since 31 December 2025
  • at least 5.2%
    (filed with 2 related holders)
    Since 17 July 2026
  • Neil Gagnon
    Passive investor
    at least 5.0%+0.1 pts
    (filed with 2 related holders)
    Since 20 August 2026
  • Neil Gagnon
    Passive investor
    at least 5.0%
    (filed with 1 related holder)
    Since 3 March 2025
  • First Trust Portfolios L.P.
    Passive investor
    Sold down below 5%
    Since 30 September 2025
  • The Vanguard Group
    Passive investor
    Sold down below 5%
    Since 13 March 2026
  • Macquarie Group Limited
    Passive investor
    Sold down below 5%
    Since 31 March 2025

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 $2m of shares on the open market. 6 sold $3m, $3m of it under preset trading plans.

Cluster buy4 insiders bought within 30 days (7 August 2026 to 28 August 2026).
  • Chiplock Mark
    EVP, CFO & CAO
    Sold
    under a preset trading plan
    Date
    15 September 2026
    Shares
    476
    Price
    $22.46
    Value
    $10,691
  • Maltezos Louis P
    Co-President
    Sold
    under a preset trading plan
    Date
    15 September 2026
    Shares
    592
    Price
    $22.46
    Value
    $13,296
  • Sakellaris George P
    Chief Executive Officer, Director
    Bought
    Date
    28 August 2026
    Shares
    3,000
    Price
    $22.13
    Value
    $66,390
  • Sakellaris George P
    Chief Executive Officer, Director
    Bought
    Date
    27 August 2026
    Shares
    4,000
    Price
    $22.84
    Value
    $91,360
  • Sakellaris George P
    Chief Executive Officer, Director
    Bought
    Date
    26 August 2026
    Shares
    1,000
    Price
    $21.92
    Value
    $21,920
  • Sakellaris George P
    Chief Executive Officer, Director
    Bought
    Date
    25 August 2026
    Shares
    5,000
    Price
    $21.95
    Value
    $109,747
  • Miller Jennifer L
    Director
    Bought
    Date
    24 August 2026
    Shares
    2,000
    Price
    $20.96
    Value
    $41,920
  • Sutton Joseph W.
    Director
    Bought
    Date
    24 August 2026
    Shares
    9,700
    Price
    $20.87
    Value
    $202,439
  • Sakellaris George P
    Chief Executive Officer, Director
    Bought
    Date
    24 August 2026
    Shares
    5,000
    Price
    $20.91
    Value
    $104,550
  • Cox Brian C
    Director
    Bought
    Date
    21 August 2026
    Shares
    4,625
    Price
    $21.64
    Value
    $100,085

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 3 Mar 2026, plus the 10-Q filed 4 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.