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Houlihan Lokey (HLI): which funds own it

Financials →(by SIC code, unreviewed)Data as of Jun 30, 2026 (Q2 2026) · updated on Nov 5, 2026

A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.

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Sections with a free account

3 concentrated managers hold it with a median weight of 1.2%. 1 officer or director bought in 6 months.

Who owns Houlihan Lokey?

Holders that filed a Schedule 13D or 13G with the SEC for owning more than 5% of the shares: A&R Voting Trust (13D/A filed Jan 2, 2026), BlackRock (13G/A filed Apr 17, 2025), Vanguard Capital Management (13G filed Apr 30, 2026) and Vanguard Portfolio Management (13G filed Apr 29, 2026). Beiser Scott L and Gold Irwin are listed on their Form 4 filings as owners of more than 10%. As of Jun 30, 2026, the largest holders reported on Form 13F were BlackRock (5.2 million shares), Vanguard Portfolio Management (2.8 million shares) and Vanguard Capital Management (2.4 million shares).

Which institutions hold the most Houlihan Lokey shares?

Per Form 13F filings as of Jun 30, 2026:

  1. 1. BlackRock: 5.2 million shares
  2. 2. Vanguard Portfolio Management: 2.8 million shares
  3. 3. Vanguard Capital Management: 2.4 million shares
  4. 4. Kayne Anderson Rudnick Investment Management: 2.4 million shares
  5. 5. Earnest Partners: 2.2 million shares
  6. 6. Royal Bank of Canada: 2.0 million shares
  7. 7. State Street: 1.7 million shares
  8. 8. Morgan Stanley: 1.7 million shares
  9. 9. Geode Capital Management: 1.4 million shares
  10. 10. Bank of Montreal: 1.3 million shares

Sources:13D/A by A&R Voting Trust (Jan 2, 2026) ↗13G/A by BlackRock (Apr 17, 2025) ↗13G by Vanguard Capital Management (Apr 30, 2026) ↗13G by Vanguard Portfolio Management (Apr 29, 2026) ↗All of the company's proxy statements on EDGAR ↗

With more than one share class, a 13D or 13G counts shares convertible from another class as owned, so we do not show its percentage. We hold 13D and 13G filings made since Dec 23, 2024: a holder above 5% that has not filed since then does not appear here.

Houlihan Lokey revenue

Houlihan Lokey reported annual revenue of $2.62 billion for fiscal year 2026 (year ended March 31, 2026), according to its Form 10-K filed with the SEC (XBRL data).

Concentrated managers
3
All 13F: 520
Consensus
—
No score: it needs 5 or more concentrated managers
Price at Jun 30, 2026 (per 13F)
$134.13
-6.6% in the quarter · reported value ÷ shares, not the quote · See current quote ↗

Quarter flow (concentrated managers)

Change in managers (3 → 3): 0 opened · 0 exited = 0

Net flow in the quarter: −$2.6M (−19 K shares) · bought $57K and sold $2.7MShares concentrated managers added minus those they cut, valued at the 13F quarter-end implied price, not each trade's price. It is a different measure from the change in managers: the two can have opposite signs.

Concentrated managers holding it

Up to 15, sorted by position value. The percentage is the weight in each manager's portfolio.

Largest holders of HLI (all 13F filers)

The 10 13F filers with the most shares as of Jun 30, 2026, whatever their type (index firms usually come first). “Change”: shares added or cut versus the previous quarter, split-adjusted; “no data” = there is no comparable portfolio for the previous quarter (no filing, or a filing with its holdings under confidential treatment). “% of the company” only where shares outstanding are up to date. Entities of the same group file separately and some 13F filings include other managers: there may be double counting. With a free account: the top 25, the largest buyers and the largest sellers.

Fundamentals

12-month figures to Sep 30, 2026 · balance sheet as of Sep 30, 2026.

Profitability
Operating margin
20.3%
Net margin
15.8%
ROE
17.5%
Growth
Revenue (TTM)
$2.6 bn
Revenue growth
-0.4%
Net income (TTM)
$404M
Balance sheet
Net debt / EBITDA
—
Free cash flow (TTM)
$402M
Quality vs sector
—

This company's sector comes from its SIC code, unreviewed, or has too few comparable companies: we do not compare it with its sector.

Figures from the statements the company filed with the SEC (10-K, 10-Q). Free cash flow = operating cash flow − capital expenditures; empty if the company does not report capex. “Quality vs sector”: 0 to 100, the average of its percentiles in ROE, operating margin, free-cash-flow margin, revenue and earnings growth and net debt / EBITDA (at least 3 needed) against companies in its sector above $300M. How each figure is calculated

Shares outstanding: buybacks and dilution

Diluted shares by fiscal year (split-adjusted)

2026: 68.4 M

68.7 M0
20172026
1 year
−0.3%
3 years
+1.3%
5 years
−0.3%
Buybacks (FY 2026)
$175M
Share issuance
no data
Stock-based compensation
$201M7.7% of revenue
Dividends paid
$174M

From the statements the company filed with the SEC (10-K). The change compares average diluted shares of each fiscal year, on today's basis: negative = it bought back more than it issued; positive = dilution. “No data” = the company does not report that item under a tag we can read; it does not mean zero.

Earnings quality and debt

Operating cash flow ÷ net income (12 months)
1.06
Interest coverage (operating income ÷ interest)
no data
Debt due within 12 months
no data

From the figures the company filed with the SEC. Cash flow over net income near or above 1 means earnings are collected in cash; far below, that part is accounting. Coverage says how many times operating income pays the latest fiscal year's interest. Maturities come from the debt note of the latest annual report, counted from its closing date. “No data” never means zero.

Insiders (Form 4)

Officers and directors who bought (6 m)
1
Amount (6 m)
$501K
CEO/CFO bought (12 m)
Yes

10% owners who bought (6 m): 0

Open-market purchases, excluding 10b5-1 plans. Officers and directors only; joint filers of the same purchase count as one. 10% owners with no role are shown separately. 0 = nobody bought; “no data” = we do not have its Form 4 filings.

Each of the company's Form 4 filings, on EDGAR ↗Latest trades, with date and filing →

Above 5% (13D/13G)

Disclosed stakes, with their amendments. A filing is not always a purchase: there are also reductions and changes of filing entity.

This list may be incomplete: we hold 13D and 13G filings made since Dec 23, 2024. A holder above 5% that has not filed anything since then is not shown here.

Above 5% over time (13D/13G)

Each holder with its filings in order. History since December 2024.

Flagged material events (8-K)

  • Oct 5, 2026Routinefiling ↗

    Change in directors or officers (Item 5.02)

  • Sep 22, 2026Routinefiling ↗

    Change in directors or officers (Item 5.02)

    «Houlihan Lokey Appoints Prabha Sipi Bhandari as Chief Legal Officer»

  • Sep 8, 2026Routinefiling ↗

    Change in directors or officers (Item 5.02)

  • Jan 29, 2026Routinefiling ↗

    Change in directors or officers (Item 5.02)

Alert items the company itself flagged in its 8-K filings with the SEC, most serious first. It is the form's label, with no interpretation from us: Item 5.02 covers routine appointments as well as a chief executive's departure; open the filing. The quoted headline is the original press release's.

All material events (8-K)

Earnings, agreements, financing, management changes and announcements from the last year, with a filter by type and a link to each filing.

Other Financials stocks in managers' portfolios

Same sector and a similar number of concentrated managers holding them. It is a list to keep exploring, not a recommendation.

All of Financials →

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