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Rent the Runway

RENT on Nasdaq. Market value $52m.

Watch this stockFree. We tell you when something changes.

Should I look at this?

Look carefully before going further

Why it could be worth it

Nothing stands out yet.

What to watch out for

Read the warning sign in its own filings

This is not advice.

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Who owns it

None of the long-term investors we follow own it. 53 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

5 investors own more than 5%.

  • CHS US Investments LLC
    at least 59.2%−0.6 pts
    (filed with 4 related holders)
    Since 11 September 2026
    What they said

    Item 4 of the Schedule 13D is hereby amended and supplemented as follows: The information set forth in Item 6 of this Schedule 13D is incorporated by reference into this Item 4.

    Read the filing
  • Gateway Runway, LLC
    Passive investor
    at least 12.7%−0.1 pts
    (filed with 9 related holders)
    Since 11 September 2026
    What they said

    Item 4 of the Schedule 13D is hereby amended and supplemented as follows: The information set forth in Item 6 of this Schedule 13D is incorporated by reference into this Item 4.

    Read the filing
  • S3 RR Aggregator, LLC
    at least 12.7%−0.1 pts
    (filed with 3 related holders)
    Since 11 September 2026
    What they said

    Item 4 of the Schedule 13D is hereby amended and supplemented as follows: The information set forth in Item 6 of this Schedule 13D is incorporated by reference into this Item 4.

    Read the filing
  • Highland Management Partners VIII Limited Partnership
    Passive investor
    at least 5.7%
    (filed with 1 related holder)
    Since 31 December 2024
  • CASTLEKNIGHT MASTER FUND LP
    Passive investor
    at least 4.2%−2.3 pts
    (filed with 5 related holders)
    Since 30 September 2025
  • Highland Management Partners VIII Limited
    Passive investor
    Sold down below 5%
    Since 31 December 2025
  • Bain Capital Venture Fund 2009, L.P.
    Passive investor
    Sold down below 5%
    Since 31 December 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. 1 sold $279,147, $103,220 of it under preset trading plans.

  • Fonseca Dhiren R.
    Director
    Sold
    Date
    25 September 2026
    Shares
    13,000
    Price
    $1.70
    Value
    $22,082
  • Fonseca Dhiren R.
    Director
    Sold
    Date
    24 September 2026
    Shares
    62,000
    Price
    $1.70
    Value
    $105,164
  • Fonseca Dhiren R.
    Director
    Sold
    Date
    14 September 2026
    Shares
    25,132
    Price
    $1.94
    Value
    $48,681
  • Fonseca Dhiren R.
    Director
    Sold
    under a preset trading plan
    Date
    24 July 2026
    Shares
    34,516
    Price
    $2.99
    Value
    $103,220

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.

1 serious warning sign in Rent the Runway’s filings.

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 14 Apr 2026, plus the 10-Q filed 11 Sep 2026 and 12 later 8-Ks.

  • Weak checks on its own accounts

    Serious

    The company said its checks on its own accounts did not work at the end of its latest quarter. Mistakes could slip into the numbers.

    “As of July 31, 2026, these material weaknesses remain unremediated.”
    Show the full paragraph
    We identified material weaknesses in our internal control over financial reporting. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of our annual or interim financial statements will not be prevented or detected on a timely basis. As of July 31, 2026, these material weaknesses remain unremediated.

    From the 10-Q filed 11 September 2026, Part I, Item 4. Controls and Procedures. 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.