Latest revenue
$59.4M
as of 2026-03-31
Latest net income
$7.3M
as of 2026-03-31
Net margin
12.2%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $867.1M
- Enterprise value
- $867.1M
- P/E (trailing)
- 23.7×
- Forward P/E
- —
- P/B
- —
- Dividend yield
- 2.2%
- 52-wk high
- $10.54
- 52-wk low
- $4.60
- Beta
- —
- Shares out
- 95.9M
5-year trend
What this company does
Abacus Global Management buys, trades, and services life insurance policies in the secondary 'life settlements' market, and manages roughly $3.33 billion in alternative funds, ETFs, and longevity-linked assets. It earns money from origination fees on policies, spreads and returns on traded or held policies, and percentage-based fees on assets under management and third-party portfolio servicing. The company is rapidly transforming from a pure life settlements firm into a diversified alternative asset manager, adding Carlisle, FCF Advisors, and AccuQuote, moving to the NYSE, and launching an asset-based finance strategy in January 2026.
Generated from ABX's filing dated 2026-03-13
Key risks
- Acquisition integration risk: Carlisle, FCF (Dec 2024) and AccuQuote (Oct 2025) acquisitions create execution risk amid a Feb 2025 rebrand and NYSE relisting.
- Mortality/longevity exposure: holds non-variable universal life policies where returns depend on insured lifespans; longer-than-modeled lives compress IRRs and require ongoing premium outlays.
- Strategy creep: January 2026 launch into the $20T asset-based finance market (consumer credit, equipment, IP) is far outside Abacus's life-settlement core competency.
Generated from ABX's filing dated 2026-03-13
Profitability
Gross margin
87.7%
2.3%Operating margin
37.7%
4854.0%Net margin
15.5%
172.5%Return on equity
-112.2%
100.0%Return on assets
4.0%
247.7%Leverage
Debt / equity
-4.52×
65.9%Long-term debt / equity
-1.00×
Debt / assets
128.4%
18.7%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $59.4M | +34.6% | $7.3M | +56.6% | 12.2% |
Q4 2025 2025-12-31 | $71.9M | -32.8% | $7.2M | +142.7% | 10.1% |
Q3 2025 2025-09-30 | $63.0M | +5232.7% | $7.1M | +238.1% | 11.2% |
Q2 2025 2025-06-30 | $56.2M | +2626.2% | $17.6M | +3138.2% | 31.3% |
Q1 2025 2025-03-31 | $44.1M | +2511.5% | $4.6M | +444.0% | 10.5% |
Q4 2024 2024-12-31 | $107.0M | — | $-16.9M | — | -15.8% |
Q3 2024 2024-09-30 | $1.2M | -46.2% | $-5.1M | -667.3% | -434.0% |
Q2 2024 2024-06-30 | $2.1M | +482.0% | $-578.8K | -81.9% | -28.1% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
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Insider activity
Insider buying
$2.2M
Insider selling
$60.0K
Net activity
+$2.1M
Distinct insiders
4
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns ABX
Institutional value
$103.7M
Total shares held
13.2M
Distinct holders
70
-48 vs prior
As of
2026-03-31
Prior: 2025-12-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | BlackRock, Inc. | 2.7M | $21.5M | -43.3K (-1.6%) | Trimmed |
| 2 | ROYCE & ASSOCIATES LP | 2.1M | $16.7M | +129.5K (+6.5%) | Added |
| 3 | VANGUARD CAPITAL MANAGEMENT LLC | 1.8M | $14.4M | — | New |
| 4 | Allspring Global Investments Holdings, LLC | 1.3M | $10.3M | -78.6K (-5.6%) | Trimmed |
| 5 | Alta Fundamental Advisers LLC | 1.1M | $8.6M | +0 (+0.0%) | No change |
| 6 | QTR Family Wealth, LLC | 628.6K | $5.5M | +0 (+0.0%) | No change |
| 7 | KENNEDY CAPITAL MANAGEMENT LLC | 639.8K | $5.0M | +15.1K (+2.4%) | Added |
| 8 | FRANKLIN RESOURCES INC | 471.3K | $3.7M | -71.0K (-13.1%) | Trimmed |
| 9 | JANE STREET GROUP, LLC | 351.6K | $2.8M | +85.2K (+32.0%) | Added |
| 10 | VANGUARD PORTFOLIO MANAGEMENT LLC | 234.1K | $1.8M | — | New |
| 11 | VANGUARD FIDUCIARY TRUST CO | 226.1K | $1.8M | — | New |
| 12 | SEI INVESTMENTS CO | 204.6K | $1.6M | +58.0K (+39.6%) | Added |
| 13 | Nuveen, LLC | 172.9K | $1.4M | +2.1K (+1.2%) | Added |
| 14 | UBS Group AG | 166.9K | $1.3M | +36.0K (+27.5%) | Added |
| 15 | Bank of New York Mellon Corp | 152.1K | $1.2M | +7.4K (+5.1%) | Added |
| 16 | Swiss National Bank | 77.3K | $609.1K | -3.6K (-4.4%) | Trimmed |
| 17 | State of Wyoming | 59.6K | $469.7K | +24.0K (+67.5%) | Added |
| 18 | World Investment Advisors | 40.1K | $316.3K | +19.0K (+89.7%) | Added |
| 19 | DEUTSCHE BANK AG\ | 33.6K | $264.6K | +4.8K (+16.7%) | Added |
| 20 | RHUMBLINE ADVISERS | 33.3K | $262.3K | +1.2K (+3.8%) | Added |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
With AUM at $3.33B post-Carlisle and FCF acquisitions, what organic versus acquired AUM growth occurred in 2025, and what's recurring fee economics versus episodic policy gains?
- 2
How sensitive is your held-policy portfolio's fair value to a 100bp change in life-expectancy assumptions or discount rates, and what unrealized mark sits in earnings?
- 3
Four acquisitions in 13 months plus an NYSE uplisting—what leverage, goodwill, and integration costs are embedded, and when does Carlisle become accretive to EPS?
Refreshed when ABX files a new report · last from 2026-03-13