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Designer Brands

DBI on NYSE. Market value $83m.

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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. 134 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

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

Big holders and activists

4 investors own more than 5%.

  • SH Capital Partners, L.P.
    Passive investor
    at least 17.4%
    (filed with 1 related holder)
    Since 31 March 2025
  • at least 16.1%−0.2 pts
    (filed with 2 related holders)
    Since 15 September 2026
    What they said

    Item 4 is hereby amended to add the following: The Reporting Persons are pleased that management provided additional disclosure regarding Topo Athletic ("Topo") during the recent earnings call on September 10, 2026, including that Topo is on track to generate more than $100…

    Read the filing
  • BlackRock, Inc.
    Passive investor
    7.6%+1.2 pts
    Since 30 June 2026
  • 5.1%+0.4 pts
    Since 30 June 2026
  • The Vanguard Group
    Passive investor
    Sold down below 5%
    Since 31 December 2025
  • Fund 1 Investments, LLC
    Passive investor
    Sold down below 5%
    Since 30 June 2025

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

What insiders did

No insider bought shares on the open market in the last 12 months. 5 sold $2m.

  • SONNENBERG HARVEY L
    Director
    Sold
    Date
    17 September 2026
    Shares
    24,000
    Price
    $6.15
    Value
    $147,600
  • Haley Mark
    SVP, Controller & PAO
    Sold
    Date
    14 September 2026
    Shares
    17,698
    Price
    $6.37
    Value
    $112,697
  • Haley Mark
    SVP, Controller & PAO
    Sold
    Date
    11 September 2026
    Shares
    1,800
    Price
    $6.01
    Value
    $10,823
  • Turner Mary
    EVP;Pres DesignerBrands Canada
    Sold
    Date
    10 June 2026
    Shares
    34,708
    Price
    $7.00
    Value
    $242,956
  • LAU JOANNA T
    Director
    Sold
    Date
    26 December 2025
    Shares
    13,105
    Price
    $8.00
    Value
    $104,840
  • Ferree Deborah L
    V. Chair; Ch Product Off, Director
    Sold
    Date
    11 December 2025
    Shares
    142,277
    Price
    $8.06
    Value
    $1m

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 30 Mar 2026, plus the 10-Q filed 10 Sep 2026 and 4 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.