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Harvard Bioscience

HBIO on Nasdaq. Market value $39m.

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Who owns it

None of the long-term investors we follow own it. 37 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

4 investors own more than 5%.

  • William Snider
    at least 16.0%
    (filed with 3 related holders)
    Since 17 December 2025
    What they said

    The information contained above in Item 1 and Item 3 of this Schedule 13D is incorporated herein by reference. The Reporting Persons acquired the securities of the Issuer in connection with the Loan Agreement. Mr. Snider serves a member of the board of directors of the Issuer…

    Read the filing
  • AMH Equity LLC
    Passive investor
    9.2%+1.1 pts
    Since 6 August 2025
  • 7.3%+1.5 pts
    Since 31 March 2025
  • Leviticus Partners LP
    Passive investor
    5.2%−1.3 pts
    Since 14 September 2026
  • HARVEY PARTNERS, LLC
    Passive investor
    Sold down below 5%
    Since 31 March 2025
  • BlackRock, Inc.
    Passive investor
    Sold down below 5%
    Since 30 June 2025
  • 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 $202,354 of shares on the open market.

  • DENELSKY STEPHEN J
    Director
    Bought
    Date
    17 March 2026
    Shares
    10,000
    Price
    $4.87
    Value
    $48,700
  • Snider William
    Director
    Bought
    Date
    17 March 2026
    Shares
    8,475
    Price
    $4.85
    Value
    $41,104
  • Frost Mark T
    Chief Financial Officer
    Bought
    Date
    16 March 2026
    Shares
    5,000
    Price
    $5.00
    Value
    $25,000
  • Snider William
    Director
    Bought
    Date
    16 March 2026
    Shares
    12,525
    Price
    $4.99
    Value
    $62,500
  • Duke John D
    Chief Executive Officer, Director
    Bought
    Date
    16 March 2026
    Shares
    5,000
    Price
    $5.01
    Value
    $25,050

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 13 Mar 2026, plus the 10-Q filed 11 Aug 2026 and 6 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.