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Lite Strategy

LITS on Nasdaq. Market value $43m.

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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. 35 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%.

  • Kenneth Griffin
    Passive investor
    at least 3.9%−6.1 pts
    (filed with 6 related holders)
    Since 31 December 2025
  • at least 3.7%
    (filed with 14 related holders)
    Since 22 July 2025
    What they said

    Item 4 is hereby amended to add the following: As disclosed in the Issuer's Form 8-K filed on July 22, 2025, the Issuer entered into securities purchase agreements on July 17, 2025 with certain investors pursuant to which the Issuer agreed to sell and issue to such investors…

    Read the filing
  • The Vanguard Group
    Passive investor
    Sold down below 5%
    Since 30 September 2025
  • Alexander Schornstein
    Passive investor
    Sold down below 5%
    Since 30 June 2026

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

What insiders did

In the last 12 months, 1 insider bought $142,248 of shares on the open market.

  • Flynn James P
    Director
    Bought
    Date
    24 June 2026
    Shares
    25,000
    Price
    $0.86
    Value
    $21,500
  • Flynn James P
    Director
    Bought
    Date
    19 December 2025
    Shares
    70,000
    Price
    $1.40
    Value
    $98,000
  • Flynn James P
    Director
    Bought
    Date
    19 November 2025
    Shares
    12,100
    Price
    $1.88
    Value
    $22,748

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 28 Sep 2026, and no later 8-Ks.

  • Changed auditor

    Worth knowing

    The company changed its auditor (the firm that checks its books) in the last two years.

    “At the same time, the Committee dismissed Deloitte & Touche LLP (“Deloitte”) as independent registered public accounting firm of the Company effective December 2, 2025.”

    From an 8-K filed 5 December 2025: Change of auditor. 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.