Q2 Holdings, Inc. (QTWO) shareholders
QTWONYSEServices-Prepackaged SoftwareFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 28, 2026Score 11/3073% above fair value
$73.95+1.00 (+1.37%)
Close on Nov 13, 2026Market cap $4.57BP/E 43.8Yield –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
100.0%
66M of 62M shares
Institutional holders
328
39 new, 56 sold out
Net institutional buying
3M
In Q2 2026
Insider trades, 12 months
0 buys · 39 sales
Net sold $31.69M
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 |
|---|---|---|---|---|
| BlackRock, Inc. | 9,200,043 | 14.70% | 13G (passive) amendment | Sep 30, 2025 |
| Vanguard Portfolio Management | 4,912,944 | 7.87% | 13G (passive) | Mar 31, 2026 |
| Vanguard Capital Management | 3,176,279 | 5.08% | 13G (passive) | Mar 31, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of QTWO | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 10,431,842 | 16.89% | $501.77M | +395,680 | 0.01% |
| Vanguard Portfolio Management LLC | 4,969,943 | 8.04% | $239.05M | +111,104 | 0.01% |
| Vanguard Capital Management LLC | 2,718,267 | 4.40% | $130.75M | +18,005 | 0.00% |
| State Street Corp | 2,630,263 | 4.26% | $126.52M | +134,427 | 0.00% |
| Tremblant Capital Group | 1,842,165 | 2.98% | $88.61M | +139,189 | 2.54% |
| Millennium Management LLC | 1,807,416 | 2.93% | $86.94M | +1,000,867 | 0.03% |
| Nomura Asset Management International Inc. | 1,633,414 | 2.64% | $78.57M | +402,574 | 0.12% |
| Geode Capital Management, LLC | 1,585,911 | 2.57% | $76.30M | +97,707 | 0.00% |
| Capital Research Global Investors | 1,480,035 | 2.40% | $71.19M | −140,373 | 0.01% |
| Victory Capital Management Inc | 1,433,131 | 2.32% | $68.93M | +1,255,848 | 0.04% |
| Conestoga Capital Advisors, LLC | 1,393,275 | 2.26% | $67.02M | −389,440 | 1.46% |
| Goldman Sachs Group Inc | 1,288,201 | 2.09% | $61.96M | +594,507 | 0.01% |
| Two Sigma Investments, LP | 1,202,730 | 1.95% | $57.85M | +164,418 | 0.04% |
| American Century Companies Inc | 1,129,697 | 1.83% | $54.34M | +22,596 | 0.02% |
| Algebris (UK) Ltd | 1,070,545 | 1.73% | $51.33M | +374,952 | 3.38% |
| Federated Hermes, Inc. | 1,047,134 | 1.69% | $50.37M | +106,223 | 0.07% |
| Dimensional Fund Advisors LP | 1,011,060 | 1.64% | $48.63M | +1,287 | 0.01% |
| Manufacturers Life Insurance Company, The | 997,526 | 1.61% | $47.98M | +298,833 | 0.04% |
| Arrowstreet Capital, Limited Partnership | 875,851 | 1.42% | $42.13M | +359,605 | 0.02% |
| Tensile Capital Management LP | 868,767 | 1.41% | $41.79M | −21,000 | 5.77% |
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 | 328 | 66M | 100.0% | 39 / 138 | 111 / 56 | 10M | 7M |
| Q1 2026 | 350 | 63M | 100.0% | 67 / 137 | 106 / 62 | 18M | 14M |
| Q4 2025 | 350 | 67M | 100.0% | 74 / 122 | 116 / 47 | 11M | 11M |
| Q3 2025 | 329 | 67M | 100.0% | 67 / 117 | 108 / 64 | 13M | 11M |
| Q2 2025 | 328 | 65M | 100.0% | 38 / 130 | 109 / 45 | 3M | 4M |
| Q1 2025 | 337 | 66M | 100.0% | 56 / 142 | 104 / 48 | 7M | 4M |
| Q4 2024 | 336 | 62M | 100.0% | 72 / 98 | 131 / 26 | 8M | 8M |
| Q3 2024 | 294 | 63M | 100.0% | 47 / 102 | 102 / 25 | 12M | 6M |
| Q2 2024 | 273 | 63M | 100.0% | 49 / 106 | 82 / 27 | 7M | 10M |
| Q1 2024 | 254 | 65M | 100.0% | 46 / 86 | 83 / 25 | 8M | 5M |
| Q4 2023 | 234 | 62M | 100.0% | 48 / 75 | 75 / 18 | 8M | 5M |
| Q3 2023 | 206 | 59M | 95.9% | 32 / 73 | 74 / 33 | 7M | 7M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
368 funds held QTWO in Q2 2026, 49% of their shares through ETFs. Each fund counts once per quarter, from its quarter-end report.
| Fund | Shares | % of QTWO | Value | % of fund | As of |
|---|---|---|---|---|---|
| iShares Core S&P Small-Cap ETF | 3,771,799 | 6.11% | $181.42M | 0.16% | Jun 30, 2026 |
| Vanguard Total Stock Market Index Fund | 1,888,225 | 3.06% | $90.82M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 1,631,872 | 2.64% | $78.49M | 0.09% | Jun 30, 2026 |
| Vanguard Information Technology Index Fund | 1,566,407 | 2.54% | $74.17M | 0.04% | May 31, 2026 |
| SMALLCAP World Fund Inc | 1,441,575 | 2.33% | $69.34M | 0.07% | Jun 30, 2026 |
| Vanguard Small-Cap Index Fund | 1,365,916 | 2.21% | $65.70M | 0.03% | Jun 30, 2026 |
| Vanguard Mid-Cap Growth Fund | 1,364,825 | 2.21% | $83.08M | 3.08% | Jul 31, 2026 |
| Small Cap Growth Fund | 829,570 | 1.34% | $50.50M | 0.91% | Jul 31, 2026 |
| Vanguard Small-Cap Growth Index Fund | 788,472 | 1.28% | $37.93M | 0.08% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 718,116 | 1.16% | $34.54M | 0.04% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 694,543 | 1.12% | $42.28M | 0.12% | Jul 31, 2026 |
| Small Cap Core Fund | 639,480 | 1.04% | $38.93M | 2.00% | Jul 31, 2026 |
| Nomura Small Cap Core Fund | 620,945 | 1.01% | $29.40M | 0.53% | May 29, 2026 |
| Fidelity Small Cap Growth Fund | 604,068 | 0.98% | $36.77M | 0.42% | Jul 31, 2026 |
| iShares Russell 2000 Growth ETF | 586,881 | 0.95% | $28.23M | 0.18% | 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 |
|---|---|---|---|---|
| Jonathan Price | Co-CEO, CFO, Director | 251,901 | 0.41% | Nov 3, 2026 |
| Matthew P. Flake | Chief Executive Officer, Director | 579,560 | 0.94% | Mar 13, 2026 |
| Michael S. Kerr | General Counsel | 78,084 | 0.13% | Nov 13, 2026 |
| Kimberly Anne Rutledge | Chief People Officer | 113,913 | 0.18% | Aug 12, 2026 |
| Kirk L. Coleman | Chief Business Officer | 329,658 | 0.53% | Jun 12, 2026 |
| John E. Breeden | Chief Delivery Officer | 127,344 | 0.21% | Mar 13, 2026 |
| Himagiri K. Mukkamala | Chief Operating Officer | 162,290 | 0.26% | Mar 13, 2026 |
| Michael A. Volanoski | Chief Revenue Officer | 166,512 | 0.27% | Dec 12, 2025 |
| Andre L. Mintz | Director | 7,676 | 0.01% | Jun 12, 2026 |
| Rebecca Lynn Atchison | Director | 26,981 | 0.04% | Jun 12, 2026 |
| Margaret Taylor | Director | 25,727 | 0.04% | Jun 12, 2026 |
| James Offerdahl | Director | 21,739 | 0.04% | Jun 12, 2026 |
| Stephen C. Hooley | Director | 25,523 | 0.04% | Jun 12, 2026 |
| Lynn Antipas Tyson | Director | 18,741 | 0.03% | Jun 12, 2026 |
| Jeffrey T. Diehl | Director | 33,121 | 0.05% | Nov 27, 2024 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Michael S. Kerr General Counsel | Nov 11, 2026 | Sale(10b5-1 plan) | −2,655 | $74.81 | $198.62K | 78,084 |
| Jonathan Price Co-CEO, CFO, Director | Nov 2, 2026 | Award | +44,268 | – | – | 251,901 |
| Michael S. Kerr General Counsel | Sep 11, 2026 | Sale | −636 | $60.96 | $38.77K | 80,739 |
| Jonathan Price Chief Financial Officer | Aug 13, 2026 | Sale | −77,180 | $65.71 | $5.07M | 207,633 |
| Kimberly Anne Rutledge Chief People Officer | Aug 10, 2026 | Sale(10b5-1 plan) | −10,000 | $63.07 | $630.70K | 113,913 |
| Kirk L. Coleman Chief Business Officer | Jun 10, 2026 | Sale | −3,603 | $43.48 | $156.66K | 329,658 |
| Lynn Antipas Tyson Director | Jun 10, 2026 | Award | +4,741 | – | – | 18,741 |
| Rebecca Lynn Atchison Director | Jun 10, 2026 | Award | +4,741 | – | – | 26,981 |
| Stephen C. Hooley Director | Jun 10, 2026 | Award | +4,741 | – | – | 25,523 |
| Andre L. Mintz Director | Jun 10, 2026 | Award | +4,741 | – | – | 7,676 |
| James Offerdahl Director | Jun 10, 2026 | Award | +4,741 | – | – | 21,739 |
| Margaret Taylor Director | Jun 10, 2026 | Award | +4,741 | – | – | 25,727 |
| Kirk L. Coleman Chief Business Officer | Jun 1, 2026 | Award | +16,961 | – | – | 315,327 |
| Kirk L. Coleman Chief Business Officer | Jun 1, 2026 | Award | +17,934 | – | – | 333,261 |
| Kirk L. Coleman Chief Business Officer | Jun 1, 2026 | Sale | −20,894 | $49.50 | $1.03M | 298,366 |
| Michael S. Kerr General Counsel | May 14, 2026 | Sale | −397 | $44.98 | $17.86K | 81,375 |
| Jonathan Price Chief Financial Officer | Mar 11, 2026 | Award | +19,272 | – | – | 275,178 |
| Jonathan Price Chief Financial Officer | Mar 11, 2026 | Award | +48,179 | – | – | 236,634 |
| Jonathan Price Chief Financial Officer | Mar 11, 2026 | Award | +19,272 | – | – | 255,906 |
| Jonathan Price Chief Financial Officer | Mar 11, 2026 | Award | +9,635 | – | – | 284,813 |
| Michael S. Kerr General Counsel | Mar 11, 2026 | Award | +18,308 | – | – | 63,464 |
| Michael S. Kerr General Counsel | Mar 11, 2026 | Award | +7,322 | – | – | 70,786 |
| Michael S. Kerr General Counsel | Mar 11, 2026 | Award | +7,322 | – | – | 78,108 |
| Michael S. Kerr General Counsel | Mar 11, 2026 | Award | +3,664 | – | – | 81,772 |
| Michael S. Kerr General Counsel | Mar 11, 2026 | Sale(10b5-1 plan) | −2,071 | $50.33 | $104.23K | 45,156 |
| John E. Breeden Chief Delivery Officer | Mar 11, 2026 | Award | +11,562 | – | – | 127,344 |
| John E. Breeden Chief Delivery Officer | Mar 11, 2026 | Award | +11,562 | – | – | 115,782 |
| John E. Breeden Chief Delivery Officer | Mar 11, 2026 | Award | +28,908 | – | – | 104,220 |
| John E. Breeden Chief Delivery Officer | Mar 11, 2026 | Award | +5,784 | – | – | 133,128 |
| John E. Breeden Chief Delivery Officer | Mar 11, 2026 | Sale(10b5-1 plan) | −8,924 | $50.34 | $449.23K | 75,312 |
| Matthew P. Flake Chief Executive Officer, Director | Mar 11, 2026 | Award | +96,358 | – | – | 579,560 |
| Matthew P. Flake Chief Executive Officer, Director | Mar 11, 2026 | Award | +38,542 | – | – | 656,644 |
| Matthew P. Flake Chief Executive Officer, Director | Mar 11, 2026 | Award | +19,274 | – | – | 675,918 |
| Matthew P. Flake Chief Executive Officer, Director | Mar 11, 2026 | Award | +38,542 | – | – | 618,102 |
| Kimberly Anne Rutledge Chief People Officer | Mar 11, 2026 | Award | +8,672 | – | – | 110,904 |
| Kimberly Anne Rutledge Chief People Officer | Mar 11, 2026 | Award | +4,337 | – | – | 123,913 |
| Kimberly Anne Rutledge Chief People Officer | Mar 11, 2026 | Award | +8,672 | – | – | 119,576 |
| Kimberly Anne Rutledge Chief People Officer | Mar 11, 2026 | Award | +21,681 | – | – | 102,232 |
| Kimberly Anne Rutledge Chief People Officer | Mar 11, 2026 | Sale(10b5-1 plan) | −3,187 | $50.37 | $160.53K | 80,551 |
| Himagiri K. Mukkamala Chief Operating Officer | Mar 11, 2026 | Award | +15,418 | – | – | 162,290 |
| Himagiri K. Mukkamala Chief Operating Officer | Mar 11, 2026 | Award | +15,418 | – | – | 146,872 |
| Himagiri K. Mukkamala Chief Operating Officer | Mar 11, 2026 | Award | +38,544 | – | – | 131,454 |
| Himagiri K. Mukkamala Chief Operating Officer | Mar 11, 2026 | Award | +7,708 | – | – | 169,998 |
| Kirk L. Coleman Chief Business Officer | Mar 11, 2026 | Award | +6,746 | – | – | 319,260 |
| Kirk L. Coleman Chief Business Officer | Mar 11, 2026 | Award | +13,490 | – | – | 312,514 |
| Kirk L. Coleman Chief Business Officer | Mar 11, 2026 | Award | +13,490 | – | – | 299,024 |
| Kirk L. Coleman Chief Business Officer | Mar 11, 2026 | Award | +33,726 | – | – | 285,534 |
| Himagiri K. Mukkamala Chief Operating Officer | Mar 9, 2026 | Sale | −1,343 | $51.35 | $68.96K | 92,910 |
| Kirk L. Coleman Chief Business Officer | Mar 9, 2026 | Sale | −10,849 | $51.35 | $557.10K | 251,808 |
| Jonathan Price Chief Financial Officer | Mar 9, 2026 | Sale | −8,680 | $51.35 | $445.72K | 188,455 |
| Matthew P. Flake Chief Executive Officer, Director | Mar 9, 2026 | Sale | −20,613 | $51.35 | $1.06M | 483,202 |
| John E. Breeden Chief Delivery Officer | Mar 9, 2026 | Sale(10b5-1 plan) | −6,076 | $51.35 | $312.00K | 84,236 |
| Kimberly Anne Rutledge Chief People Officer | Mar 9, 2026 | Sale(10b5-1 plan) | −4,340 | $51.35 | $222.86K | 83,738 |
| Michael S. Kerr General Counsel | Mar 9, 2026 | Sale(10b5-1 plan) | −2,821 | $51.35 | $144.86K | 47,227 |
| John E. Breeden Chief Delivery Officer | Mar 5, 2026 | Sale(10b5-1 plan) | −68,707 | $51.73 | $3.55M | 90,312 |
| Kimberly Anne Rutledge Chief People Officer | Mar 5, 2026 | Sale(10b5-1 plan) | −20,948 | $51.66 | $1.08M | 88,078 |
| Michael S. Kerr General Counsel | Mar 5, 2026 | Sale(10b5-1 plan) | −9,554 | $51.66 | $493.56K | 50,048 |
| Kimberly Anne Rutledge Chief People Officer | Mar 4, 2026 | Sale | −19,924 | $49.75 | $991.22K | 109,026 |
| Jonathan Price Chief Financial Officer | Mar 4, 2026 | Sale | −32,156 | $49.75 | $1.60M | 197,135 |
| Matthew P. Flake Chief Executive Officer, Director | Mar 4, 2026 | Sale | −91,590 | $49.75 | $4.56M | 503,815 |
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
7.99%
5M shares short
Days to cover
5.3
At 1M shares a day
Change since last report
-2.8%
From 5M shares
Short volume, 20 days
41.2%
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 Q2's stock actually held short. Settlement fails (shares not delivered on time) peaked at 17,144 shares on Sep 16, 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 |
|---|---|---|---|---|---|
| Michael S. Kerr Officer | Sep 11, 2026 | 636 | $38.77K | Sep 11, 2026 | Restricted Stock Units |
| Jonathan Price Officer | Aug 13, 2026 | 77,180 | $4.83M | Aug 13, 2026 | Restricted stock units and performance stock units |
| Kimberly Anne Rutledge Officer | Aug 10, 2026 | 10,000 | $628.10K | Aug 10, 2026 | Restricted Stock Units |
| Kirk L. Coleman Officer | Jun 10, 2026 | 3,603 | $156.65K | Jun 10, 2026 | RSU Release |
| Kirk L. Coleman Officer | Jun 1, 2026 | 20,894 | $1.03M | Jun 1, 2026 | Performance Stock Units |
| Michael S. Kerr Officer | May 14, 2026 | 397 | $17.86K | May 14, 2026 | Restricted Stock Units |
| Kimberly Anne Rutledge Officer | Mar 11, 2026 | 3,187 | $163.37K | Mar 11, 2026 | Performance Stock Units |
| John E. Breeden Officer | Mar 11, 2026 | 8,924 | $457.44K | Mar 11, 2026 | Performance Stock Units |
| Michael S. Kerr Officer | Mar 11, 2026 | 2,071 | $106.16K | Mar 11, 2026 | Performance Stock Units |
| Michael S. Kerr Officer | Mar 9, 2026 | 2,821 | $144.85K | Mar 9, 2026 | Performance Stock Units |
| John E. Breeden Officer | Mar 9, 2026 | 6,076 | $311.98K | Mar 9, 2026 | Performance Stock Units |
| Matthew P. Flake Officer, Director | Mar 9, 2026 | 20,613 | $1.06M | Mar 9, 2026 | Performance Stock Untis |
| Kimberly Anne Rutledge Officer | Mar 9, 2026 | 4,340 | $222.84K | Mar 9, 2026 | Performance Stock Units |
| Kirk L. Coleman Officer | Mar 9, 2026 | 10,849 | $557.05K | Mar 9, 2026 | Performance Stock Units |
| Jonathan Price Officer | Mar 9, 2026 | 8,680 | $445.68K | Mar 9, 2026 | Performance Stock Units |
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