Clearfield, Inc. (CLFD) shareholders
CLFDNasdaqTelephone & Telegraph ApparatusFiscal year ends September 30
Financials through Q3 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026Score 9/3057% above fair value
$29.67−1.60 (-5.12%)
Close on Nov 13, 2026Market cap $403.04MP/E –Yield –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
64.4%
9M of 14M shares
Institutional holders
126
21 new, 18 sold out
Net institutional buying
1M
In Q2 2026
Insider trades, 12 months
1 buys · 8 sales
Net sold $853.76K
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 |
|---|---|---|---|---|
| Ronald G. Roth | 1,456,024 | 10.50% | 13G (passive) amendment | Dec 31, 2025 |
| Roth Ronald G | 1,443,556 | 10.20% | 13G (passive) amendment | Dec 31, 2024 |
| Orin Hirschman Joint filing with AIGH Capital Management LLC (9.00%) | 1,217,196 | 9.00% | 13G (passive) amendment | Sep 30, 2026 |
| BlackRock, Inc. | 1,051,002 | 6.90% | 13G (passive) amendment | Dec 31, 2023 |
| AIGH Capital Management LLC Joint filing with Orin Hirschman (7.40%) | 1,008,469 | 7.40% | 13G (passive) | Jun 30, 2026 |
| Mairs and Power, Inc. | 852,255 | 6.03% | 13G (passive) | Mar 31, 2025 |
| John Reilly Joint filing with ACK Asset Management LLC (5.10%), Richard Meisenberg (5.10%) | 710,200 | 5.10% | 13G (passive) | Feb 20, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of CLFD | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| AIGH Capital Management LLC | 1,008,469 | 7.42% | $40.13M | New | 2.53% |
| BlackRock, Inc. | 957,424 | 7.05% | $38.10M | +59,556 | 0.00% |
| ACK Asset Management LLC | 810,200 | 5.96% | $32.24M | +75,000 | 3.76% |
| Vanguard Capital Management LLC | 481,816 | 3.55% | $19.17M | −28,020 | 0.00% |
| Mairs & Power Inc | 385,257 | 2.84% | $15.33M | −346,476 | 0.14% |
| Vanguard Portfolio Management LLC | 371,245 | 2.73% | $14.77M | +15,492 | 0.00% |
| State Street Corp | 363,209 | 2.67% | $14.45M | +40,964 | 0.00% |
| Dimensional Fund Advisors LP | 357,104 | 2.63% | $14.21M | +3,618 | 0.00% |
| Geode Capital Management, LLC | 302,039 | 2.22% | $12.02M | +16,198 | 0.00% |
| Punch & Associates Investment Management, Inc. | 277,610 | 2.04% | $11.05M | −12,000 | 0.55% |
| Royal Bank of Canada | 262,147 | 1.93% | $10.43M | −20,203 | 0.00% |
| Royce & Associates LP | 256,990 | 1.89% | $10.23M | – | 0.08% |
| D. E. Shaw & Co., Inc. | 227,722 | 1.68% | $9.06M | +86,750 | 0.00% |
| Acadian Asset Management LLC | 173,069 | 1.27% | $6.88M | +11,134 | 0.01% |
| JPMorgan Chase & Co | 164,458 | 1.21% | $6.37M | −66,731 | 0.00% |
| Dana Investment Advisors, Inc. | 161,550 | 1.19% | $6.43M | −17,812 | 0.17% |
| Millennium Management LLC | 142,431 | 1.05% | $5.67M | +94,498 | 0.00% |
| Goldman Sachs Group Inc | 139,129 | 1.02% | $5.54M | +63,449 | 0.00% |
| Citadel Advisors LLC | 131,916 | 0.97% | $5.25M | −121,020 | 0.00% |
| Divisadero Street Capital Management, LP | 130,783 | 0.96% | $5.20M | New | 0.12% |
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 | 126 | 9M | 64.4% | 21 / 33 | 47 / 18 | 2M | 1M |
| Q1 2026 | 126 | 8M | 60.5% | 19 / 39 | 44 / 14 | 2M | 1M |
| Q4 2025 | 125 | 9M | 62.8% | 18 / 35 | 45 / 21 | 0M | 1M |
| Q3 2025 | 129 | 9M | 66.1% | 20 / 46 | 39 / 18 | 2M | 1M |
| Q2 2025 | 127 | 9M | 63.2% | 21 / 41 | 45 / 20 | 1M | 1M |
| Q1 2025 | 128 | 8M | 61.7% | 16 / 38 | 40 / 30 | 1M | 1M |
| Q4 2024 | 143 | 9M | 62.8% | 34 / 34 | 44 / 24 | 1M | 1M |
| Q3 2024 | 134 | 9M | 66.3% | 21 / 40 | 42 / 17 | 2M | 1M |
| Q2 2024 | 131 | 9M | 68.2% | 23 / 39 | 41 / 29 | 1M | 2M |
| Q1 2024 | 138 | 10M | 71.6% | 27 / 46 | 43 / 25 | 2M | 2M |
| Q4 2023 | 138 | 10M | 75.8% | 36 / 43 | 39 / 33 | 3M | 3M |
| Q3 2023 | 136 | 10M | 73.5% | 21 / 46 | 37 / 34 | 1M | 1M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
154 funds held CLFD in Q2 2026, 59% of their shares through ETFs. Each fund counts once per quarter, from its quarter-end report.
| Fund | Shares | % of CLFD | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Total Stock Market Index Fund | 342,425 | 2.52% | $13.63M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 297,792 | 2.19% | $11.85M | 0.01% | Jun 30, 2026 |
| Vanguard Information Technology Index Fund | 295,454 | 2.18% | $13.95M | 0.01% | May 31, 2026 |
| Mairs & Power Fund | 197,481 | 1.45% | $7.86M | 0.14% | Jun 30, 2026 |
| Mairs & Power Small Cap Fund | 164,133 | 1.21% | $6.53M | 2.42% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 127,984 | 0.94% | $5.09M | 0.01% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 125,534 | 0.92% | $3.80M | 0.01% | Jul 31, 2026 |
| State Street(R) SPDR(R) S&P(R) Telecom ETF | 110,565 | 0.81% | $4.40M | 0.62% | Jun 30, 2026 |
| iShares Russell 2000 Value ETF | 108,589 | 0.80% | $4.32M | 0.03% | Jun 30, 2026 |
| Royce Micro-Cap Fund | 73,252 | 0.54% | $2.91M | 0.68% | Jun 30, 2026 |
| U.S. Small Cap Portfolio | 59,981 | 0.44% | $1.82M | 0.01% | Jul 31, 2026 |
| Vanguard Russell 2000 Index Fund | 59,015 | 0.43% | $2.79M | 0.02% | May 31, 2026 |
| Fidelity Extended Market Index Fund | 58,910 | 0.43% | $2.78M | 0.01% | May 31, 2026 |
| Schwab U.S. Small-Cap ETF | 54,880 | 0.40% | $2.59M | 0.01% | May 31, 2026 |
| iShares U.S. Digital Infrastructure and Real Estate ETF | 49,192 | 0.36% | $1.96M | 0.39% | 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 |
|---|---|---|---|---|
| Cheryl Beranek | Chief Executive Officer, Director | 492,973 | 3.63% | Jul 6, 2026 |
| Anis Khemakhem | Chief Commercial Officer | 25,284 | 0.19% | Jul 2, 2026 |
| Daniel R. Herzog | Chief Financial Officer | 85,834 | 0.63% | Jul 2, 2026 |
| John P. Hill | Chief Operating Officer | 192,674 | 1.42% | Jul 2, 2026 |
| Walter Louis Jones JR | Director | 8,682 | 0.06% | May 12, 2026 |
| Rebecca Seidel | Director | 2,870 | 0.02% | Mar 2, 2026 |
| Ademir Sarcevic | Director | 5,317 | 0.04% | Mar 2, 2026 |
| Ronald G. Roth | Director, 10% owner | 1,458,568 | 10.74% | Mar 2, 2026 |
| Kathleen Skarvan | Director | 2,870 | 0.02% | Mar 2, 2026 |
| Carol Ann Wirsbinski | Director | 9,631 | 0.07% | Mar 2, 2026 |
| Catherine T. Kelly | Director | 5,317 | 0.04% | Mar 2, 2026 |
| Donald R. Hayward | Director | 10,870 | 0.08% | Feb 20, 2026 |
| Charles N. Hayssen | Director | 142,328 | 1.05% | Mar 3, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Cheryl Beranek Chief Executive Officer, Director | Jul 1, 2026 | Sale(10b5-1 plan) | −1,778 | $40.06 | $71.23K | 492,973 |
| John P. Hill Chief Operating Officer | Jun 30, 2026 | Award | +459 | $24.78 | $11.37K | 192,674 |
| Daniel R. Herzog Chief Financial Officer | Jun 30, 2026 | Award | +752 | $24.78 | $18.63K | 85,834 |
| Cheryl Beranek Chief Executive Officer, Director | Jun 30, 2026 | Award | +210 | $24.78 | $5.20K | 494,751 |
| Anis Khemakhem Chief Commercial Officer | Jun 30, 2026 | Award | +158 | $24.78 | $3.92K | 25,284 |
| Anis Khemakhem Chief Commercial Officer | Jun 9, 2026 | Sale | −1,684 | $39.90 | $67.19K | 25,126 |
| Cheryl Beranek Chief Executive Officer, Director | Jun 1, 2026 | Sale(10b5-1 plan) | −7,500 | $46.92 | $351.90K | 494,541 |
| Cheryl Beranek Chief Executive Officer, Director | May 27, 2026 | Sale(10b5-1 plan) | −2,500 | $50.00 | $125.00K | 502,041 |
| Walter Louis Jones JR Director | May 11, 2026 | Sale | −2,391 | $46.05 | $110.11K | 8,682 |
| Cheryl Beranek Chief Executive Officer, Director | May 11, 2026 | Sale(10b5-1 plan) | −2,500 | $45.02 | $112.55K | 504,541 |
| Cheryl Beranek Chief Executive Officer, Director | May 8, 2026 | Sale(10b5-1 plan) | −5,000 | $40.27 | $201.35K | 507,041 |
| Anis Khemakhem Chief Commercial Officer | May 6, 2026 | Tax withholding | −635 | $30.28 | $19.23K | 26,810 |
| Walter Louis Jones JR Director | Feb 27, 2026 | Award | +2,544 | – | – | 11,073 |
| Catherine T. Kelly Director | Feb 27, 2026 | Award | +2,544 | – | – | 5,317 |
| Carol Ann Wirsbinski Director | Feb 27, 2026 | Award | +2,544 | – | – | 9,631 |
| Ademir Sarcevic Director | Feb 27, 2026 | Award | +2,544 | – | – | 5,317 |
| Kathleen Skarvan Director | Feb 27, 2026 | Award | +2,544 | – | – | 2,870 |
| Rebecca Seidel Director | Feb 27, 2026 | Award | +2,544 | – | – | 2,870 |
| Ronald G. Roth Director, 10% owner | Feb 27, 2026 | Award | +2,544 | – | – | 1,281,808 |
| Donald R. Hayward Director | Feb 19, 2026 | Sale | −3,595 | $32.00 | $115.04K | 10,870 |
| John P. Hill Chief Operating Officer | Dec 31, 2025 | Award | +222 | $24.78 | $5.50K | 192,215 |
| Daniel R. Herzog Chief Financial Officer | Dec 31, 2025 | Award | +88 | $24.78 | $2.18K | 85,082 |
| Anis Khemakhem Chief Commercial Officer | Dec 31, 2025 | Award | +131 | $24.78 | $3.25K | 27,445 |
| Cheryl Beranek Chief Executive Officer, Director | Dec 31, 2025 | Award | +210 | $24.78 | $5.20K | 512,041 |
| Ronald G. Roth Director, 10% owner | Dec 15, 2025 | Buy | +10,000 | $30.06 | $300.60K | 1,279,264 |
| Cheryl Beranek Chief Executive Officer, Director | Dec 11, 2025 | Gift | −1,960 | – | – | 511,831 |
| Kathleen Skarvan Director | Dec 10, 2025 | Award | +326 | – | – | 326 |
| Rebecca Seidel Director | Dec 10, 2025 | Award | +326 | – | – | 326 |
| John P. Hill Chief Operating Officer | Nov 28, 2025 | Award | +17,030 | – | – | 191,993 |
| Daniel R. Herzog Chief Financial Officer | Nov 28, 2025 | Award | +11,495 | – | – | 84,994 |
| Cheryl Beranek Chief Executive Officer, Director | Nov 28, 2025 | Award | +25,545 | – | – | 513,791 |
| Daniel R. Herzog Chief Financial Officer | Nov 20, 2025 | Tax withholding | −824 | $28.22 | $23.25K | 73,499 |
| Daniel R. Herzog Chief Financial Officer | Nov 20, 2025 | Award | +5,394 | – | – | 74,323 |
| Daniel R. Herzog Chief Financial Officer | Nov 20, 2025 | Award | +2,696 | – | – | 68,929 |
| Cheryl Beranek Chief Executive Officer, Director | Nov 20, 2025 | Award | +5,393 | – | – | 480,111 |
| Cheryl Beranek Chief Executive Officer, Director | Nov 20, 2025 | Award | +10,788 | – | – | 490,899 |
| Cheryl Beranek Chief Executive Officer, Director | Nov 20, 2025 | Tax withholding | −2,653 | $28.22 | $74.87K | 488,246 |
| John P. Hill Chief Operating Officer | Nov 20, 2025 | Award | +10,788 | – | – | 177,616 |
| John P. Hill Chief Operating Officer | Nov 20, 2025 | Tax withholding | −2,653 | $28.22 | $74.87K | 174,963 |
| John P. Hill Chief Operating Officer | Nov 20, 2025 | Award | +5,393 | – | – | 166,828 |
| Daniel R. Herzog Chief Financial Officer | Nov 16, 2025 | Tax withholding | −973 | $30.72 | $29.89K | 67,058 |
| Daniel R. Herzog Chief Financial Officer | Nov 16, 2025 | Tax withholding | −825 | $30.72 | $25.34K | 66,233 |
| Daniel R. Herzog Chief Financial Officer | Nov 16, 2025 | Tax withholding | −510 | $30.72 | $15.67K | 68,031 |
| John P. Hill Chief Operating Officer | Nov 16, 2025 | Tax withholding | −2,017 | $30.72 | $61.96K | 164,088 |
| John P. Hill Chief Operating Officer | Nov 16, 2025 | Tax withholding | −2,653 | $30.72 | $81.50K | 161,435 |
| John P. Hill Chief Operating Officer | Nov 16, 2025 | Tax withholding | −1,020 | $30.72 | $31.33K | 166,105 |
| Daniel R. Herzog Chief Financial Officer | Nov 16, 2025 | Tax withholding | +825 | $30.72 | $25.34K | 66,233 |
| Daniel R. Herzog Chief Financial Officer | Nov 16, 2025 | Tax withholding | −510 | $30.72 | $15.67K | 68,031 |
| Daniel R. Herzog Chief Financial Officer | Nov 16, 2025 | Tax withholding | +973 | $30.72 | $29.89K | 67,058 |
| Cheryl Beranek Chief Executive Officer, Director | Nov 16, 2025 | Tax withholding | −2,318 | $30.72 | $71.21K | 474,718 |
| Cheryl Beranek Chief Executive Officer, Director | Nov 16, 2025 | Tax withholding | −1,948 | $30.72 | $59.84K | 477,036 |
| Cheryl Beranek Chief Executive Officer, Director | Nov 16, 2025 | Tax withholding | −1,020 | $30.72 | $31.33K | 478,984 |
| John P. Hill Chief Operating Officer | Sep 18, 2025 | Option exercise | +17,776 | $23.74 | $422.00K | 170,520 |
| John P. Hill Chief Operating Officer | Sep 18, 2025 | Option exercise | +24,000 | $12.43 | $298.32K | 180,520 |
| John P. Hill Chief Operating Officer | Sep 18, 2025 | Tax withholding | −13,395 | $34.21 | $458.24K | 167,125 |
| John P. Hill Chief Operating Officer | Sep 18, 2025 | Tax withholding | −14,000 | $34.21 | $478.94K | 156,520 |
| Daniel R. Herzog Chief Financial Officer | Sep 12, 2025 | Option exercise | +12,000 | $12.43 | $149.16K | 75,326 |
| Daniel R. Herzog Chief Financial Officer | Sep 12, 2025 | Tax withholding | −9,453 | $33.25 | $314.31K | 63,326 |
| Daniel R. Herzog Chief Financial Officer | Sep 12, 2025 | Option exercise | +11,795 | $23.74 | $280.01K | 72,779 |
| Daniel R. Herzog Chief Financial Officer | Sep 12, 2025 | Tax withholding | −6,785 | $33.25 | $225.60K | 68,541 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Short interest
Shares sold short and not yet bought back, as of Oct 30, 2026 (FINRA, reported twice a month)
Short % of float
11.38%
1M shares short
Days to cover
10.2
At 0M shares a day
Change since last report
-2.9%
From 1M shares
Short volume, 20 days
68.4%
Of volume reported to FINRA
Shares sold short, last 12 months
Short sale volume counts trades marked short on any given day, including market-maker hedging, so it runs far higher than the share of Clearfield's stock actually held short. Settlement fails (shares not delivered on time) peaked at 5,722 shares on Oct 6, 2026 over the last 90 days.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Cheryl Beranek Officer, Director | Jul 1, 2026 | 1,778 | $70.58K | Jul 1, 2026 | Stock Option Grant |
| Anis Khemakhem Officer | Jun 9, 2026 | 1,684 | $67.19K | Jun 9, 2026 | ESPP |
| Cheryl Beranek Officer, Director | Jun 1, 2026 | 7,500 | $349.80K | Jun 1, 2026 | Stock Option Grant |
| Cheryl Beranek Officer, Director | May 27, 2026 | 2,500 | $124.09K | May 27, 2026 | Stock Option Grant |
| Cheryl Beranek Officer, Director | May 11, 2026 | 2,500 | $111.74K | May 11, 2026 | Stock Option Grant |
| Walter Louis Jones JR Director | May 11, 2026 | 2,700 | $109.22K | May 11, 2026 | Payment for services rendered |
| Cheryl Beranek Officer, Director | May 8, 2026 | 5,000 | $199.88K | May 8, 2026 | Stock Option Grant |
| John P. Hill Officer | Feb 19, 2025 | 23,809 | $785.67K | Feb 19, 2025 | Restricted Stock Award |
| John P. Hill Officer | Feb 14, 2025 | 13,831 | $455.71K | Feb 14, 2025 | Restricted Stock Award |
| John P. Hill Officer | Feb 12, 2025 | 16,539 | $548.46K | Feb 12, 2025 | Restricted Stock Award |
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