DFHNYSEOperative BuildersFiscal year ends December 31
Dream Finders Homes, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-K/A on Jul 30, 2026
$8.65−0.14 (-1.59%)
Close on Oct 19, 2026
- Market cap
- $790.11M
- P/E (TTM)
- 6.2
- Dividend yield
- –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
33.8%
31M of 92M shares
Institutional holders
205
46 new, 29 sold out
Net institutional buying
2M
In Q2 2026
Insider trades, 12 months
8 buys · 15 sales
Net sold $9.94M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Zalupski Patrick O. | 59,814,230 | 65.30% | 13G (passive) amendment | Mar 31, 2026 |
| BlackRock, Inc. | 4,372,177 | 12.20% | 13G (passive) amendment | Mar 31, 2025 |
| Lovett William Radford II | 3,213,232 | 9.70% | 13G (passive) amendment | Jun 30, 2026 |
| Kayne Anderson Rudnick Investment Management, LLC | 3,072,095 | 9.10% | 13G (passive) amendment | Jun 30, 2026 |
| Cooke & Bieler L.P. | 1,870,801 | 5.50% | 13G (passive) amendment | Jun 30, 2026 |
| State Street Corporation | 1,709,676 | 5.10% | 13G (passive) | Jun 30, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of DFH | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 4,811,957 | 5.24% | $83.05M | +138,528 | 0.00% |
| Kayne Anderson Rudnick Investment Management LLC | 3,072,095 | 3.35% | $53.02M | −1,196,285 | 0.16% |
| Jupiter Topco LLC | 1,922,596 | 2.09% | $33.18M | New | 0.01% |
| Cooke & Bieler LP | 1,870,801 | 2.04% | $32.29M | −908,201 | 0.37% |
| State Street Corp | 1,709,676 | 1.86% | $29.51M | +19,800 | 0.00% |
| Dimensional Fund Advisors LP | 1,546,957 | 1.68% | $26.70M | +97,649 | 0.00% |
| Vanguard Portfolio Management LLC | 1,464,130 | 1.59% | $25.27M | −4,397 | 0.00% |
| Vanguard Capital Management LLC | 1,206,150 | 1.31% | $20.82M | −37,022 | 0.00% |
| Elgethun Capital Management | 819,406 | 0.89% | $14.14M | +314,028 | 1.97% |
| Geode Capital Management, LLC | 729,022 | 0.79% | $12.59M | +10,431 | 0.00% |
| Morgan Stanley | 642,733 | 0.70% | $11.09M | +295,866 | 0.00% |
| Invesco Ltd. | 545,748 | 0.59% | $9.42M | +48,021 | 0.00% |
| Charles Schwab Investment Management Inc | 481,915 | 0.52% | $8.32M | +66,902 | 0.00% |
| Point72 Asset Management, L.P. | 457,332 | 0.50% | $7.89M | +396,803 | 0.01% |
| UBS Group AG | 377,592 | 0.41% | $6.52M | +158,951 | 0.00% |
| Mount Yale Investment Advisors, LLC | 344,821 | 0.38% | $5.95M | +25 | 0.11% |
| Vestmark Advisory Solutions, Inc. | 344,796 | 0.38% | $5.95M | – | 0.06% |
| Goldman Sachs Group Inc | 344,649 | 0.38% | $5.95M | +32,911 | 0.00% |
| Hrt Financial LP | 334,616 | 0.36% | $5.78K | +88,247 | 0.00% |
| Bnp Paribas Arbitrage, Snc | 334,191 | 0.36% | $5.77M | +213,360 | 0.00% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 205 | 31M | 33.8% | 46 / 78 | 53 / 29 | 6M | 4M |
| Q1 2026 | 192 | 30M | 33.2% | 46 / 78 | 45 / 41 | 7M | 3M |
| Q4 2025 | 191 | 29M | 31.9% | 31 / 60 | 78 / 35 | 2M | 3M |
| Q3 2025 | 197 | 31M | 33.2% | 27 / 65 | 67 / 28 | 2M | 2M |
| Q2 2025 | 200 | 31M | 34.0% | 35 / 90 | 48 / 31 | 3M | 2M |
| Q1 2025 | 197 | 31M | 33.8% | 38 / 79 | 55 / 30 | 2M | 2M |
| Q4 2024 | 191 | 32M | 34.5% | 47 / 80 | 35 / 50 | 9M | 3M |
| Q3 2024 | 195 | 26M | 28.1% | 43 / 62 | 62 / 30 | 7M | 2M |
| Q2 2024 | 184 | 23M | 25.0% | 27 / 73 | 63 / 53 | 3M | 4M |
| Q1 2024 | 212 | 24M | 26.1% | 51 / 76 | 62 / 21 | 3M | 2M |
| Q4 2023 | 183 | 23M | 25.3% | 60 / 58 | 44 / 14 | 4M | 3M |
| Q3 2023 | 138 | 22M | 23.9% | 39 / 43 | 34 / 10 | 2M | 1M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of DFH | Value | % of fund | As of |
|---|---|---|---|---|---|
| iShares Core S&P Small-Cap ETF | 1,667,729 | 1.82% | $28.79M | 0.03% | Jun 30, 2026 |
| Virtus KAR Small-Cap Growth Fund | 1,234,962 | 1.35% | $21.32M | 3.45% | Jun 30, 2026 |
| Janus Henderson Triton Fund | 864,555 | 0.94% | $14.92M | 0.25% | Jun 30, 2026 |
| Vanguard Total Stock Market Index Fund | 857,459 | 0.93% | $14.80M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 733,945 | 0.80% | $12.67M | 0.02% | Jun 30, 2026 |
| Vanguard Small-Cap Index Fund | 619,654 | 0.67% | $10.70M | 0.01% | Jun 30, 2026 |
| Janus Henderson Venture Fund | 562,928 | 0.61% | $9.72M | 0.27% | Jun 30, 2026 |
| State Street(R) SPDR(R) S&P(R) Homebuilders ETF | 485,601 | 0.53% | $8.38M | 0.51% | Jun 30, 2026 |
| U.S. Small Cap Value Portfolio | 453,959 | 0.49% | $5.81M | 0.03% | Jul 31, 2026 |
| Vanguard Small-Cap Value Index Fund | 392,937 | 0.43% | $6.78M | 0.01% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 321,776 | 0.35% | $5.55M | 0.01% | Jun 30, 2026 |
| Invesco S&P SmallCap 600 Revenue ETF | 313,593 | 0.34% | $4.85M | 0.26% | May 31, 2026 |
| Fidelity Small Cap Index Fund | 312,837 | 0.34% | $4.00M | 0.01% | Jul 31, 2026 |
| iShares U.S. Home Construction ETF | 267,744 | 0.29% | $4.62M | 0.18% | Jun 30, 2026 |
| State Street(R) SPDR(R) Portfolio S&P 600(TM) Small Cap ETF | 255,275 | 0.28% | $4.41M | 0.03% | Jun 30, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Patrick O. Zalupski | President and CEO, Director, 10% owner | 61,224,539 | 66.69% | Mar 17, 2026 |
| Clinton Szubinski | COO | 362,101 | 0.39% | Jun 8, 2026 |
| Lorena Anabel Ramsay | Senior VP and CFO | 230,179 | 0.25% | Apr 2, 2026 |
| Richard Beckwitt | Director | 500,000 | 0.54% | Sep 22, 2026 |
| Steven Fischer | Director | 107,670 | 0.12% | Sep 22, 2026 |
| Len Sturm | Director | 30,728 | 0.03% | Sep 4, 2026 |
| Justin Udelhofen | Director | 42,801 | 0.05% | Mar 9, 2026 |
| Megha H. Parekh | Director | 32,109 | 0.03% | Mar 9, 2026 |
| William Weatherford | Director | 30,712 | 0.03% | Mar 9, 2026 |
| William Radford Lovett II | 10% owner | 3,213,232 | 3.50% | Jun 26, 2026 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Steven Fischer Director | Sep 18, 2026 | Award | +12,158 | – | – | 107,670 |
| Richard Beckwitt Director | Sep 18, 2026 | Award | +400,000 | – | – | 500,000 |
| Richard Beckwitt Director | Sep 10, 2026 | Buy | +10,000 | $12.07 | $120.70K | 100,000 |
| Len Sturm Director | Sep 3, 2026 | Buy | +1,500 | $13.47 | $20.21K | 30,728 |
| Len Sturm Director | Aug 26, 2026 | Buy | +1,000 | $14.72 | $14.72K | 29,228 |
| Len Sturm Director | Aug 24, 2026 | Buy | +250 | $14.75 | $3.69K | 28,228 |
| Len Sturm Director | Aug 21, 2026 | Buy | +250 | $14.81 | $3.70K | 27,978 |
| Richard Beckwitt Director | Aug 13, 2026 | Buy | +12,000 | $14.80 | $177.60K | 90,000 |
| Richard Beckwitt Director | Aug 12, 2026 | Buy | +8,000 | $13.83 | $110.64K | 78,000 |
| Richard Beckwitt Director | Aug 11, 2026 | Buy | +70,000 | $13.95 | $976.50K | 70,000 |
| William Radford Lovett II 10% owner | Jun 24, 2026 | Sale | −54,140 | $16.70 | $904.14K | 3,190,883 |
| William Radford Lovett II 10% owner | Jun 24, 2026 | Sale | −2,450 | $16.00 | $39.20K | 3,245,023 |
| William Radford Lovett II 10% owner | Jun 22, 2026 | Sale | −21,962 | $15.00 | $329.43K | 3,247,473 |
| William Radford Lovett II 10% owner | Jun 18, 2026 | Sale | −85,057 | $15.52 | $1.32M | 3,269,435 |
| William Radford Lovett II 10% owner | Jun 17, 2026 | Sale | −45,544 | $15.21 | $692.72K | 3,354,492 |
| William Radford Lovett II 10% owner | Jun 16, 2026 | Sale | −50,266 | $14.99 | $753.49K | 3,400,036 |
| William Radford Lovett II 10% owner | Jun 15, 2026 | Sale | −53,325 | $15.16 | $808.41K | 3,450,302 |
| William Radford Lovett II 10% owner | Jun 12, 2026 | Sale | −76,428 | $15.17 | $1.16M | 3,503,627 |
| William Radford Lovett II 10% owner | Jun 11, 2026 | Sale | −60,828 | $14.56 | $885.66K | 3,580,055 |
| William Radford Lovett II 10% owner | May 20, 2026 | Sale | −32,146 | $12.89 | $414.36K | 3,640,883 |
| William Radford Lovett II 10% owner | May 19, 2026 | Sale | −117,854 | $12.65 | $1.49M | 3,673,029 |
| Lorena Anabel Ramsay Senior VP and CFO | Apr 1, 2026 | Tax withholding | −2,305 | $14.04 | $32.36K | 230,179 |
| Patrick O. Zalupski President and CEO, Director, 10% owner | Mar 8, 2026 | Tax withholding | −48,348 | $15.71 | $759.55K | 2,092,819 |
| Lorena Anabel Ramsay Senior VP and CFO | Mar 8, 2026 | Tax withholding | −8,380 | $15.71 | $131.65K | 232,484 |
| Justin Udelhofen Director | Mar 6, 2026 | Award | +7,760 | – | – | 42,801 |
| Patrick O. Zalupski President and CEO, Director, 10% owner | Mar 6, 2026 | Award | +287,119 | – | – | 2,158,591 |
| Patrick O. Zalupski President and CEO, Director, 10% owner | Mar 6, 2026 | Tax withholding | −17,424 | $16.40 | $285.75K | 2,141,167 |
| Len Sturm Director | Mar 6, 2026 | Award | +7,760 | – | – | 27,728 |
| Lorena Anabel Ramsay Senior VP and CFO | Mar 6, 2026 | Award | +25,867 | – | – | 244,581 |
| Lorena Anabel Ramsay Senior VP and CFO | Mar 6, 2026 | Tax withholding | −3,717 | $16.40 | $60.96K | 240,864 |
| Lorena Anabel Ramsay Senior VP and CFO | Mar 6, 2026 | Award | +41,387 | – | – | 218,714 |
| Megha H. Parekh Director | Mar 6, 2026 | Award | +7,760 | – | – | 32,109 |
| William Weatherford Director | Mar 6, 2026 | Award | +12,675 | – | – | 30,712 |
| Patrick O. Zalupski President and CEO, Director, 10% owner | Mar 5, 2026 | Tax withholding | −26,000 | $17.25 | $448.50K | 1,871,472 |
| Lorena Anabel Ramsay Senior VP and CFO | Mar 5, 2026 | Tax withholding | −3,044 | $17.25 | $52.51K | 177,327 |
| William Radford Lovett II 10% owner | Jan 22, 2026 | Sale | −30,217 | $19.60 | $592.25K | 3,790,883 |
| William Radford Lovett II 10% owner | Jan 21, 2026 | Sale | −41,525 | $19.44 | $807.25K | 3,821,100 |
| William Weatherford Director | Nov 19, 2025 | Award | +218 | – | – | 18,037 |
| William Radford Lovett II 10% owner | Oct 27, 2025 | Sale | −25,000 | $23.25 | $581.25K | 3,862,625 |
| William Radford Lovett II 10% owner | Oct 24, 2025 | Sale | −25,000 | $23.55 | $588.75K | 3,887,625 |
| William Radford Lovett II 10% owner | Oct 20, 2025 | Sale | −8,258 | $23.17 | $191.34K | 3,912,625 |
| William Radford Lovett II 10% owner | Oct 16, 2025 | Sale | −20,000 | $23.52 | $470.40K | 3,920,883 |
| William Radford Lovett II 10% owner | Oct 15, 2025 | Sale | −25,000 | $24.24 | $606.00K | 3,940,883 |
| William Radford Lovett II 10% owner | Oct 14, 2025 | Sale | −36,119 | $23.85 | $861.44K | 3,979,764 |
| William Radford Lovett II 10% owner | Oct 14, 2025 | Sale | −13,881 | $24.12 | $334.81K | 3,965,883 |
| William Radford Lovett II 10% owner | Oct 13, 2025 | Sale | −25,000 | $23.02 | $575.50K | 4,015,883 |
| Patrick O. Zalupski President and CEO, Director, 10% owner | Oct 2, 2025 | Sale(10b5-1 plan) | −6,794 | $25.93 | $176.17K | 1,891,672 |
| Patrick O. Zalupski President and CEO, Director, 10% owner | Oct 1, 2025 | Sale(10b5-1 plan) | −7,443 | $26.04 | $193.82K | 1,898,466 |
| Patrick O. Zalupski President and CEO, Director, 10% owner | Sep 16, 2025 | Sale(10b5-1 plan) | −11,143 | $28.27 | $315.01K | 1,905,909 |
| Patrick O. Zalupski President and CEO, Director, 10% owner | Sep 15, 2025 | Sale(10b5-1 plan) | −10,720 | $28.54 | $305.95K | 1,917,052 |
| William Radford Lovett II 10% owner | Sep 5, 2025 | Sale | −38,060 | $29.99 | $1.14M | 4,082,823 |
| William Radford Lovett II 10% owner | Sep 5, 2025 | Sale | −41,940 | $30.78 | $1.29M | 4,040,883 |
| William Radford Lovett II 10% owner | Sep 4, 2025 | Sale | −20,000 | $28.97 | $579.40K | 4,120,883 |
| Patrick O. Zalupski President and CEO, Director, 10% owner | Sep 4, 2025 | Sale(10b5-1 plan) | −3 | $29.19 | $88 | 1,927,772 |
| Patrick O. Zalupski President and CEO, Director, 10% owner | Sep 4, 2025 | Sale(10b5-1 plan) | −11,564 | $28.86 | $333.74K | 1,927,775 |
| Patrick O. Zalupski President and CEO, Director, 10% owner | Sep 3, 2025 | Sale(10b5-1 plan) | −931 | $28.25 | $26.30K | 1,939,339 |
| Patrick O. Zalupski President and CEO, Director, 10% owner | Sep 3, 2025 | Sale(10b5-1 plan) | −6,628 | $27.70 | $183.60K | 1,940,270 |
| Patrick O. Zalupski President and CEO, Director, 10% owner | Aug 27, 2025 | Sale(10b5-1 plan) | −5,259 | $28.09 | $147.73K | 1,946,898 |
| Patrick O. Zalupski President and CEO, Director, 10% owner | Aug 26, 2025 | Sale(10b5-1 plan) | −5,686 | $28.74 | $163.42K | 1,952,157 |
| Patrick O. Zalupski President and CEO, Director, 10% owner | Aug 13, 2025 | Sale(10b5-1 plan) | −5,913 | $27.85 | $164.68K | 1,960,060 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| William Radford Lovett II 10% Stockholder | Jun 10, 2026 | 450,000 | $6.66M | Jun 10, 2026 | Pre-IPO Private purchase |
| Zalupski Patrick Officer | Mar 16, 2026 | 1,000,000 | $15.77M | Mar 16, 2026 | Acquired Class B common shares from Issuer in private transaction, and subsequently contributed to POZ BR, LLC |
| William Radford Lovett II 10% Stockholder | Feb 27, 2026 | 150,000 | $2.76M | Feb 27, 2026 | Private Purchase |
| William Radford Lovett II 10% Stockholder | Jan 20, 2026 | 71,742 | $1.41M | Jan 20, 2026 | Private Purchase - Pre IPO |
| William Radford Lovett II Director | Oct 10, 2025 | 250,000 | $5.79M | Oct 10, 2025 | Pre-Ipo |
| William Radford Lovett II 10% Stockholder | Sep 4, 2025 | 100,000 | $2.90M | Sep 4, 2025 | Private Purchase Pre-IPO |
| William Radford Lovett II 10% Stockholder | Jul 24, 2025 | 50,076 | $1.40M | Jul 24, 2025 | Pre-Ipo |
| William Radford Lovett II 10% Stockholder | Jul 16, 2025 | 100,000 | $2.69M | Jul 16, 2025 | Pre-Ipo |
| Zalupski Patrick Officer | Jul 8, 2025 | 145,840 | $3.83M | Jul 8, 2025 | Acquired Class B common shares from Issuer in private transaction; Class B common shares to be converted to Class A common shares in connection with any sales |
| William Radford Lovett II 10% Stockholder | Jul 3, 2025 | 50,000 | $1.34M | Jul 3, 2025 | Pre-Ipo |
| William Radford Lovett II 10% Stockholder | Jul 2, 2025 | 50,000 | $1.33M | Jul 2, 2025 | Pre-Ipo |
| Patrick O. Zalupski Officer, Director, 10% Stockholder | Jun 5, 2025 | 1,000,000 | $22.06M | Jun 5, 2025 | Acquired shares of class B stock from the issuer in a private placement. The pledged shares of class B stock can be converted to shares of class A stock in connection with any delivery outlined in rem |
| Lorena Anabel Ramsay Officer | Mar 12, 2025 | 1,029 | $25.12K | Mar 12, 2025 | Stock Bonus |
| William Radford Lovett II affiliate | Mar 12, 2025 | 150,000 | $3.91M | Mar 12, 2025 | Pre-IPO Private Purchase |
| Zalupski Patrick Officer | Mar 10, 2025 | 229,168 | $5.94M | Mar 10, 2025 | Acquired Class B common shares from Issuer in private transaction; Class B common shares to be converted to Class A common shares in connection with any sales |