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Altisource Portfolio Solutions

ASPS on Nasdaq. Market value $72m.

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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

1 long-term investor we follow owns it, unchanged from 1 last quarter. 27 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

7 investors own more than 5%.

  • 29.9%
    Since 31 March 2025
  • Credit Investments Group, a distinct business unit of UBS Asset Management (Americas) LLC
    Passive investor
    23.4%+0.9 pts
    Since 16 January 2026
    What they said

    On January 16, 2026, the Client Accounts sold an aggregate of 2,108 shares of Common Stock (which represents 0.018% of the outstanding shares of Common Stock). The Reporting Person intends to evaluate on an ongoing basis its investment in the Issuer and its options with respect…

    Read the filing
  • at least 13.5%−3.8 pts
    (filed with 5 related holders)
    Since 2 February 2023
    What they said

    Item 4 of the Schedule 13D is hereby amended and supplemented by adding the following: The response to Item 3 of this Amendment No. 10 is incorporated by reference herein.

    Read the filing
  • at least 8.4%+5.6 pts
    (filed with 2 related holders)
    Since 30 September 2025
  • Concise Capital Management, LP
    Passive investor
    at least 5.6%
    (filed with 2 related holders)
    Since 19 February 2025
  • 5.1%
    Since 30 June 2026
  • PhenixFIN Corp
    Passive investor
    5.0%
    Since 19 February 2025
  • The Vanguard Group
    Passive investor
    Sold down below 5%
    Since 13 March 2026
  • William C. Erbey
    Sold down below 5%
    Since 26 March 2025

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

What insiders did

In the last 12 months, 2 insiders bought $61,676 of shares on the open market.

  • Winkler Matthew T.
    Director
    Bought
    Date
    20 August 2026
    Shares
    2,000
    Price
    $5.60
    Value
    $11,200
  • Winkler Matthew T.
    Director
    Bought
    Date
    30 July 2026
    Shares
    1,000
    Price
    $5.04
    Value
    $5,045
  • Winkler Matthew T.
    Director
    Bought
    Date
    29 July 2026
    Shares
    701
    Price
    $5.10
    Value
    $3,575
  • Shepro William B
    Chair and CEO, Director
    Bought
    Date
    28 July 2026
    Shares
    4,000
    Price
    $5.18
    Value
    $20,720
  • Shepro William B
    Chair and CEO, Director
    Bought
    Date
    22 May 2026
    Shares
    3,511
    Price
    $6.02
    Value
    $21,136

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 serious warning signs we check for were found. 1 thing worth knowing.

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 23 Jul 2026 and 3 later 8-Ks.

  • One big customer

    Worth knowing

    One customer brings in a big share of sales: 42% last year. Losing that customer would hurt.

    “During the year ended December 31, 2025, Onity was our largest customer, accounting for 42% of our total revenue.”

    From the 10-K filed 4 March 2026, Item 1. Business. Read it in the filing

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.