Two of 83: The Superinvestors Cut Reddit 18.9% in Q2. No Officer Has Ever Bought a Share.

GetCoattail Research — The Filing Tape #66. Reddit is the rare stock that is also the room where stocks get talked about. The filings describe a narrower register than the chatter suggests: two tracked superinvestors who cut their combined stake 18.9% in the second quarter, a full market that went the other way, an insider record with seven purchases ever against 1,027 sales and no officer purchase at all, and a borrow above a tenth of the share count.

The Hype

Reddit runs the communities where much of the internet argues about stocks, so its own ticker turning up on those boards is a feedback loop most names cannot match. On AltIndex's meme-stock list, updated October 13, 2026, RDDT drew 62 Reddit mentions in 24 hours, up 82.4%, with bullish sentiment — seventh on that list; every name above it is already covered here or was set aside for missing data. Analysts supplied the week's other headline: Needham reaffirmed a buy rating and a $300 target on October 9; the MarketBeat consensus is a moderate buy, average target $219.29. The price itself is less exuberant. On our daily-close file the stock rose 28.9% in the second quarter, from $134.65 at March 31 to $173.58 at June 30, then eased to $147.86 by October 2 — down 42.9% from its 252-session closing high of $258.93 on January 13, 2026, and down 35.7% year to date. On October 12 the shares fell 3.6% in an afternoon session StockStory attributed to rising yields and profit-taking.

The Tape

For RDDT — the sixty-sixth Filing Tape audit — the tape shows a two-name tracked cohort shrinking into a rising quarter, a broad register expanding underneath it, an insider purchase line that has printed seven times and never once for an officer, no congressional row, and a borrow holding near its peak.

Lens 1 — the superinvestors: two holders, and the pair shrank. We track 83 large, mostly long-only managers whose 13F portfolios we collect directly from SEC EDGAR. As of June 30, 2026, 2 held RDDT long totalling 4,094,337 shares worth $710,695,016, with no option rows. Chase Coleman's Tiger Global Management is most of it: 2,528,819 shares worth $438,952,402, a 1.83% portfolio weight, 61.8% of the cohort's RDDT shares, labelled INCREASED. Viking Global Investors holds 1,565,518 shares worth $271,742,614, a 0.77% weight. The quarter comparison comes from the pipeline's holdings files on the same CUSIP basis: the cohort held 5,051,617 shares at March 31, so the pair cut 957,280 shares (-18.95%) in a quarter when the price rose 28.9%. Tiger added 28,819 shares (+1.15%); Viking cut 986,099 shares (-38.6%) — more than the whole cohort decline. One labelling note: the collection stamps Viking's row NEW, but it stamps all 90 of Viking's rows NEW and holds no prior-period comparison for that manager, so this audit takes direction from the holdings comparison. The cohort's implied price, $173.58, sits exactly on the June 30 close. 13F figures are as of June 30, 2026; funds have up to 45 days to file, so this picture is complete — and always lagging.

Lens 2 — institutions: 117 more filers, 20.1 million more shares. At June 30, 2026, 903 institutions reported positions, up 117 from 786 at March 31 (+14.89%), 889 of them long. Reported shares rose 18.99%, from 105,950,119 to 126,071,569 shares. Reported aggregate value rose 46.39% to $26,024,150,065; the aggregate includes option rows, so we headline filer and share counts and label dollars "reported" (see methodology).

Lens 3 — insiders: seven purchases ever, none by an officer. The parsed Form 4 record holds 199 filings through October 2, 2026. Across the whole record, purchases total 7 transactions totalling 62,554 shares and $9,070,098.69, by two buyers — and officer purchases total 0 in every window: 90 days, one year, full record. Sales total 1,027 transactions totalling 3,336,859 shares and $557,008,850.54, by eight sellers, 1,024 of them officer sales. The last 90 days hold 22 filings with no purchase against 81 sale transactions totalling 286,719 shares and $49,449,772.81, by four sellers, 80 of them officer sales. The last year holds 112 filings, 4 purchases totalling 61,000 shares and $8,870,869.32 by one buyer, and 497 sale transactions totalling 1,362,130 shares and $253,587,666.37, by seven sellers. We assign no motives.

Lens 4 — Congress: no row, in either chamber. The combined congressional record (as of October 3, 2026) carries no RDDT row at all — and neither do the House aggregate (October 3, 2026) or the Senate aggregate (October 1, 2026). This is not a row reading zero and zero; the aggregates hold no record of this ticker.

Lens 5 — the 5% register: twenty-two filings, and the big stakes step down. Our full parse holds exactly 22 SC 13D/G filings for RDDT — seven SC 13G, twelve SC 13G/A and three SC 13D/A, and no original SC 13D filing — 35 reporting-person rows across 15 names as filed, most recently filed May 7, 2026, matching the site aggregate on every field. The register's maximum is the founder's: Steven Huffman at 57,276,274 shares (30.7%) as of August 16, 2025, then 51,431,595 shares (27.2%) as of October 30, 2025, then, filed as Steve Ladd Huffman, 48,143,643 shares (24.8%) as of May 4, 2026 — down 9,132,631 shares (-15.9%), with no reason asserted. The largest passive chain fell further: FMR LLC and Abigail P. Johnson — the same stake reported by two reporters — at 16,278,730.41 shares (13.2%) as of December 31, 2024, stepping through three further prints to 4,422,186 shares (2.3%) as of March 31, 2026, down 72.8% first to last. Tencent Holdings Ltd printed 12,411,829 shares (9.98%) as of December 31, 2024 and 5,905,597 shares (4.17%) as of September 30, 2025 (-52.4%). The Vanguard Group printed 12,238,333 shares (9.09%) as of September 30, 2025 and then 0 shares (0.0%) as of March 13, 2026. The remaining rows are in the methodology.

Lens 6 — short interest: 19,850,104 shares, a tenth of the company. As of September 15, 2026 — the most recent of 60 FINRA settlements since March 28, 2024 — 19,850,104 RDDT shares were sold short, easing 1.92% from the prior settlement's 20,238,916 shares on August 31, 2026; the last five settlements have swung between 16,877,691 and 20,238,916 shares rather than trending. The series maximum is 23,162,848 shares on June 30, 2025 — verified by a maximum query over the whole series — so the latest sits 14.3% below that peak, 1.0% above the year-ago 19,645,504 shares, and 16.7% above the June 30, 2026 settlement of 17,003,132 shares, the 13F snapshot date. Against 186,383,271 shares outstanding, it is 10.65% of the share count.

The Gap

The narrative describes the internet's town square trading on its own boards: 62 mentions in a day, up 82.4%, a $300 target reaffirmed against a $219.29 consensus. The filings describe the positioning underneath. The tracked superinvestors held 5,051,617 shares at March 31; at June 30 they held 4,094,337 across two holders — Tiger adding 1.15%, Viking cutting 38.6% — while the price rose 28.9%. The full market moved the other way: 126,071,569 reported shares, up 20,121,450, across 903 filers. The 5% register printed 22 filings, and its three largest chains all point down: the founder from 30.7% to 24.8%, FMR from 13.2% to 2.3%, Tencent from 9.98% to 4.17%. Insiders recorded seven purchases in the entire parsed record — none by an officer — against 1,027 sales. Congress records nothing. And the borrow stands at 19,850,104 shares — 14.3% below its June 2025 peak, 16.7% above the June 30 snapshot date, 10.65% of the shares outstanding. One plausible reading is that the quarter's enthusiasm arrived through the broad register — a net 117 more filers and 18.99% more shares — while the longest-held registers, the tracked pair and the 5% filers, were net stepping back, and the short side never left. The record supports each clause separately; it does not say which register is right — the cohort's position is a June 30 snapshot, taken before the autumn slide.

What Would Change the Picture

Nothing above is a recommendation. It is a record. These are the filings that would change the description:

• 1. The 2026Q3 13Fs (filing window closing mid-November 2026). The cohort held 4,094,337 shares at June 30, after cutting 18.95% in Q2. Whether Viking rebuilds toward its 2,551,617-share March position or cuts again, and whether Tiger's 2,528,819 shares keep growing, are the first things the next register answers.
• 2. A first officer purchase, ever, in the parsed record. The record holds zero officer purchases across 199 filings through October 2, 2026, against seven non-officer purchases and 1,027 sales. A single officer purchase, at any size, breaks the pattern.
• 3. Whether the Huffman stake steps down a fourth print. That stake has printed 57,276,274 shares (30.7%), 51,431,595 shares (27.2%) and 48,143,643 shares (24.8%) at three consecutive reported dates. Whether the next amendment holds it near 48 million shares or steps down again is this register's first question.
• 4. Whether the borrow fades, or reclaims its peak. Short interest stands at 19,850,104 shares, 16.7% above the June 30, 2026 settlement of 17,003,132 and 14.3% below the series peak of 23,162,848. A reading below 17,003,132 ends the post-snapshot build; one above 23,162,848 sets a new peak.
• 5. A first congressional record, at any size, in either chamber. All three aggregates carry no RDDT row; a single recorded trade gives this lens its first entry in our coverage.

Until one of those prints, the record describes a stock held by two of our 83 tracked superinvestors — 4,094,337 shares, cut 18.95% in the quarter its price rose 28.9% — whose officers have recorded no purchase in the entire parsed record, whose three largest 5% chains all stepped down, and whose borrow stands at 10.65% of the shares outstanding.

As-of & Limits

The lenses rest on different clocks, none live: 13F is a June 30, 2026 snapshot published up to 45 days later; Form 4 runs through October 2, 2026; Congress aggregates through October 3, 2026 (Senate October 1); 13D/G through the May 7, 2026 filing; short interest through the September 15, 2026 settlement; prices end October 2, 2026. Two limits are specific to this name: the collection carries no prior-period comparison for Viking, so Lens 1's direction comes from the pipeline's holdings files, not the collection's labels; and the full-market aggregate's reported value implies $206.42 per share against the $173.58 close, so this audit headlines filer and share counts. The congressional lens is an absence, stated as such: no trade is recorded in our coverage — not proof that none could exist outside it.

Related reading: Three of 83: Every Superinvestor in Seagate Is New. Its Insiders Have Never Bought a Share. — Filing Tape #65; Seven of 83: The Superinvestors Cut Eli Lilly 21.8% in Q2. Its Insiders Have Not Bought in a Year. — Filing Tape; Five of 83: Micron's Superinvestor Count Rose. Its Biggest Holder Cut Shares 41%. — Filing Tape. RDDT's own page: Reddit, Inc. (RDDT) on GetCoattail.

Methodology and data notes

• Superinvestor lens: 83 managers collected directly from SEC EDGAR Form 13F (managers_13f collection), positions as of June 30, 2026; RDDT identified by CUSIP 75734B100. Two distinct managers hold long positions totalling 4,094,337 shares; there are no option rows for this name in the collection. The direction count on the collection's labels, across the long rows, is one INCREASED (Tiger Global Management) and one NEW (Viking Global Investors); the collection's exit list contains no RDDT row. The NEW label for Viking is not used as direction in this audit: the collection labels all 90 of Viking's current holdings NEW and carries an empty exited list for that manager, i.e. it holds no prior-period comparison for Viking, while Tiger's label set is a full distribution (INCREASED, DECREASED, UNCHANGED, NEW and an exited list) and its INCREASED label agrees with the holdings comparison (+1.15%). Quarter-to-quarter cohort totals (5,051,617 long shares at March 31; 4,094,337 long shares at June 30, a change of -957,280 shares or -18.95%) are from the site pipeline's holdings files on the same CUSIP basis in both quarters, and the pipeline's second-quarter totals match the EDGAR collection exactly on both shares and value (differences of 0 shares and $0). On that basis Tiger Global Management held 2,500,000 shares at March 31 and 2,528,819 at June 30 (+28,819 shares, +1.15%; the March pipeline row's manager-name mapping is null, and the identification rests on the exact accession number, which matches Tiger Global Management's first-quarter accession in the pipeline's manager map, and on the share trajectory), and Viking Global Investors held 2,551,617 shares at March 31 and 1,565,518 at June 30 (-986,099 shares, -38.6%). Tiger's share of the cohort is 61.8% = 2,528,819 / 4,094,337; Viking's is 38.2%.
• Full-market lens: SEC Form 13F Data Sets full-market aggregation. The primary table is the full13f collection's by-ticker file (holders = distinct filers reporting the CUSIP; 889 reported long positions out of 903 filers). RDDT reports under a single CUSIP spelling, 75734B100, and the backfill fixtures' by-CUSIP file carries the same row — the cross-check matches on every numeric field (holders, holdersLong, shares, reported value, prior holders and prior reported value). The by-ticker file's entered/exited fields (815 and 698, a net of +117 that matches the change in holder count) are gross flows, so this audit headlines the net change. Reported-value caution: the aggregate value ($26,024,150,065 over 126,071,569 shares) implies $206.42 per share against a June 30, 2026 close of $173.58 in our price file, a gap of +18.9% — printed here as found. The aggregate sums the VALUE of every information-table row — including put and call option rows — while the share count covers long common-stock rows only, so we headline filer and share counts and label dollar values "reported."
• Insider lens: full-parse Form 4 aggregation (agg_by_ticker), record as of October 2, 2026 (199 filings). Sale and purchase counts are transaction-code counts (S and P) in non-derivative rows; grants and exercises are not counted as purchases, and one filing can contain many transaction rows. Purchase transactions total 7 across the parsed record (62,554 shares, $9,070,098.69, two buyers) and officer purchase transactions total 0 in the 90-day window, the last year and the full record alike (officerBuyTx 0 and officerBuyValUsd $0 in each). Sale transactions total 1,027 across the record (3,336,859 shares, $557,008,850.54, eight sellers, 1,024 of them recorded as officer sales); the last year holds 497 (1,362,130 shares, $253,587,666.37, seven sellers, 496 officer sales) alongside 4 purchases (61,000 shares, $8,870,869.32, one buyer, no officer purchases), and the 90-day window holds 81 (286,719 shares, $49,449,772.81, four sellers, 80 officer sales) alongside no purchases. The site's insider aggregate (compiled as of October 13, 2026, 90-day window) carries 0 purchases, 80 sales, three sellers and $49,288,172.81 for this name. Its window is not the full parse's July 5 – October 2 window — the site's compilation date is eleven days later, so its 90-day window starts later — and the two windows differ by one sale transaction, $161,600.00 and one seller; this audit prints the full parse as the record and reports the site figure here rather than blending them. No field of the full-parse aggregate had to be excluded: its sale-value totals imply $172.47 per share for the 90-day window, $186.17 for the one-year window and $166.93 across the full record, and its purchase-value totals imply $145.42 for the one-year window and $145.00 across the full record, each inside the traded price range of its window on our price file ($140.67 to $203.27 for the 90-day window's dates, $121.84 to $258.93 for the one-year window's, and $39.17 to $270.71 across the price file), so all value totals are cited as figures in this article.
• 13D/G lens: full-parse SC 13D/G parsed filings (22 filings matching issuer CIK 1713445 on CUSIP 75734B100, 35 reporting-person rows across 15 names as filed: seven SC 13G filings, twelve SC 13G/A amendments and three SC 13D/A amendments, no original SC 13D filing), filings through May 7, 2026. The site aggregation's by-ticker row for RDDT (22 filings, 3 D-filings, 19 G-filings, 15 amendments, 15 reporters, latest date May 7, 2026, maximum 30.7% and 425,548,399.6 reported shares) matches the parsed filings on every field. The parsed reporting-person rows sum to 425,548,399.6 shares, but that total sums reporting-person rows across different dates and counts several stakes twice (FMR LLC and Abigail P. Johnson report the same shares; the Tencent rows report overlapping shares through four reporters; the Huffman stake is filed under two name spellings, Steven Huffman and Steve Ladd Huffman, and the Laffont stake under two capitalisations), so it is not used as a stake figure in the article. The Huffman rows (57,276,274 shares at 30.7% as of August 16, 2025, filed August 19, 2025, SC 13D/A; then 51,431,595 at 27.2% as of October 30, 2025, filed November 3, 2025, SC 13D/A; then 48,143,643 at 24.8% as of May 4, 2026, filed May 6, 2026, SC 13D/A), the FMR LLC / Abigail P. Johnson rows (16,278,730.41 shares at 13.2% as of December 31, 2024; 13,768,849.59 at 10.4% as of June 30, 2025; 16,077,582.26 at 11.7% as of September 30, 2025; 12,506,739.54 at 8.9% as of December 31, 2025; then 4,422,186 at 2.3% as of March 31, 2026, filed April 7, 2026), the Tencent Holdings Ltd rows (12,411,829 shares at 9.98% as of December 31, 2024; then 5,905,597 at 4.17% as of September 30, 2025, alongside Aceville Pte. Ltd., TCH Delta Limited and Tencent Cloud Europe B.V. at 9,423,417 shares (7.6%) and then 3,317,185 shares (2.35%)), The Vanguard Group's rows (9,181,390 shares at 7.66% as of December 31, 2024; 12,238,333 at 9.09% as of September 30, 2025; then 0 shares at 0.0% as of March 13, 2026, filed March 27, 2026), Vanguard Capital Management's row (7,014,092 shares at 5.02% as of March 31, 2026, filed April 30, 2026, SC 13G), BAILLIE GIFFORD & CO's rows (1,938,698 shares at 4.2% and 6,482,328 shares at 5.0% as of June 30, 2025, the latter printed in both an SC 13G and an SC 13G/A filed the same day; 6,107,185 at 4.5% as of September 30, 2025; then 7,309,109 at 5.2% as of March 31, 2026, filed May 7, 2026, SC 13G), the COATUE MANAGEMENT, L.L.C. / Philippe Laffont rows (6,530,236 shares at 5.5% as of December 31, 2024; then 4,745,900 at 3.7% as of March 31, 2025) and BlackRock, Inc.'s row (6,743,745 shares at 5.01% as of September 30, 2025) are reported as filed, under the names exactly as they appear. The parsed coverage for this issuer holds these 22 filings; a 5% holder that has not filed in the covered window would not appear here.
• Congress lens: Senate PTR archive and House PTR archive as maintained on this site. The combined record (as of October 3, 2026), the House aggregate (as of October 3, 2026) and the Senate aggregate (as of October 1, 2026) each carry no RDDT row at all, so there is no combined record to decompose: no purchase, sale, member or party field exists for this ticker in any of the three aggregates. This audit reports that absence as the finding, and does not reconstruct individual filers beyond what the aggregates state.
• Short interest lens: FINRA Equity Short Interest files (biweekly settlement dates), collected directly from FINRA's public distribution. The published series covers 60 settlements from March 28, 2024 (3,819,412 shares) to September 15, 2026. The latest reading is 19,850,104 shares on September 15, 2026, down 1.92% from the prior settlement (20,238,916 on August 31, 2026), which had risen from 16,877,691 on August 14, 2026, following 19,213,705 on July 31 and 16,986,699 on July 15 — the last five settlements swing rather than trend. The series maximum is 23,162,848 shares on June 30, 2025 (verified by a maximum query over the series, not read off the latest row), so the latest reading sits 14.3% below the peak. The year-ago settlement (September 15, 2025) printed 19,645,504 shares, so the latest reading sits 1.0% above a year ago. The series minimum is 2,877,590 shares on April 15, 2024, so the latest reading sits 589.8% above the low — a low struck weeks after the March 2024 listing, printed for scale rather than as a trend claim. The June 30, 2026 settlement printed 17,003,132 shares, so the latest reading sits 16.7% above the 13F snapshot date's borrow. FINRA publishes each settlement about two weeks after the fact, so the October price action is not yet in this series. The share-count ratio (10.65%) uses the fundamentals file's shares-outstanding figure below.
• Fundamentals note: our fundamentals collection carries RDDT's revenue of $2,202,506,000, net income of $529,721,000 and assets of $3,239,173,000, each labelled fiscal 2025 in the file. The file is marked ok for this name, with no missing fields: shares outstanding of 186,383,271 (as of December 31, 2025 in the file, sourced in the file to a weighted-average basic share count) and a file-computed market value of $27,761,787,646.65. The file's price for the name is $148.95 as of October 6, 2026; our daily-close file ends October 2, 2026 at $147.86, and we keep the two files' figures separate rather than blending them.
• Prices: our own daily-close file for RDDT through October 2, 2026 ($147.86 close, -35.7% year to date on that file; 252-session closing high $258.93 on January 13, 2026, so the last close sits 42.9% below it; 252-session closing low $121.84 on March 27, 2026; closes of $134.65 at March 31, 2026 and $173.58 at June 30, 2026, a second-quarter change of +28.9%; change from June 30 to October 2 of -14.8%; change from the 252-session low of +21.4% ((147.86 / 121.84) − 1); change from the September 30, 2025 close of $229.99 of -35.7%). The series in our price file begins March 21, 2024 at $50.44 — the listing month — and holds 636 rows.
• Market context sources: AltIndex trending meme-stocks list (RDDT ranked seventh with 62 mentions, +82.4%, bullish sentiment; list updated October 13, 2026, 8:17 AM Pacific, at https://altindex.com/meme-stocks, checked October 14, 2026); the Needham buy reaffirmation and $300 target of October 9, 2026 and the MarketBeat consensus (moderate buy, average target $219.29), as carried by Transcript Daily on October 12, 2026, at https://transcriptdaily.com/2026/10/12/reddits-rddt-buy-rating-reaffirmed-at-needham-company-llc.html, checked October 14, 2026; the October 12, 2026 afternoon decline of 3.6% and its attribution to rising Treasury yields and profit-taking (StockStory, carried by the Antelope Valley Press on October 12, 2026, at https://avpress.marketminute.com/article/stockstory-2026-10-12-why-reddit-rddt-stock-is-trading-lower-today, checked October 14, 2026). Figures we could not confirm against two sources were left out; the external items above are reported speech from those outlets, not GetCoattail measurements.
• RDDT is in the GetCoattail stock-page universe: Reddit (RDDT) stock page. Series data: rddt_lens_data.csv · rddt_short_interest_series.csv. Earlier audits: Seagate · Eli Lilly.

Past patterns are not a promise of future results. For education only — not investment advice.

This article describes public filings as of the dates stated. It is not investment advice and makes no recommendation. Filings lag reality: 13F positions are as of June 30, 2026, and later trading is not yet public.

Revision history

• v1.0 — October 14, 2026: first publication.