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MLCI on Nasdaq

Mount Logan Capital Inc.

American investment advice company, incorporated in Delaware1

In its 2026 annual report the company says: “We conduct our business primarily in the United States through our two business segments: Asset Management and Insurance Solutions.”3 It is headquartered in New York, New York.1 Its shares trade on Nasdaq under the symbol MLCI.1

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Last updated Oct 21, 2026.

Overview

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  • TickerMLCI on Nasdaq1
  • IndustryInvestment Advice1
  • HeadquartersNew York, New York1
  • Incorporated inDE2
  • Business address650 Madison Ave., 3Rd Floor, New York, Ny 100222
  • Filer category, Emerging growth company2

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Formed in 2018, we are a publicly traded, alternative asset management and insurance solutions company that is focused on public and private debt securities in the North American market and the reinsurance of annuity products, primarily through our wholly-owned subsidiaries Mount Logan Management LLC (“ML Management”) and Ability Insurance Company, a Nebraska domiciled insurer (“Ability”), respectively. We also actively source, evaluate, underwrite, manage, monitor and primarily invest in loans, debt securities, and other credit-oriented instruments that present attractive risk-adjusted returns and present low risk of principal impairment through the credit cycle. We conduct our business primarily in the United States through our two business segments: Asset Management and Insurance Solutions.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-113.6%Net margin4
7.6%Revenue growth, 20254
-66.9%Return on equity4
0.84×Debt to equity4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Insurance Solutions brought in 98% of the revenue Mount Logan Capital Inc. broke down this way in fiscal 2025.

  1. Insurance Solutions$40.6M498%up 17% from 2024
  2. Asset Management$798.0K42%
Business segments by year
Business segments20242025
Insurance Solutions$34.8M$40.6M
Asset Management$0$798.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs100¢$53.6M

Out of $53.6M in revenue.4 The company lost money this year.

Financial statements

Revenue4$53.6M in 2025+8% since 2024
0$20.0M$40.0M$60.0M2024: $49.8M$49.8M20242025: $53.6M$53.6M2025+8%
Net income4-$60.8M in 2025+486% since 2024
-$80.0M-$60.0M-$40.0M-$20.0M02024: -$10.4M-$10.4M20242025: -$60.8M-$60.8M2025+486%

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
Equity investment earning$1.0M$680.0K
Net premiums-$17.2M-$15.5M
Total revenues$53.6M$49.8M
Amortization of deferred acquisition costs$3.1M$2.2M
Goodwill impairment$25.5M$0
Total expenses$120.6M$59.6M
Income (loss) before taxes-$58.5M-$9.8M
Net income (loss)-$60.8M-$10.4M
Net income (loss) attributable to common shareholders - basic (in dollars per share)-$7.08-$1.70
Net income (loss) attributable to common shareholders - Diluted (in dollars per share)-$7.08-$1.70
Weighted average shares outstanding Basic (in shares)8.6M shares6.1M shares
Weighted average shares outstanding Diluted (in shares)8.6M shares6.1M shares
Remeasurement gain on policy liabilities$9.9M$16.2M

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Corporate structure

Mount Logan Capital Inc. sits at the top of its group. 3 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Mount Logan Capital Inc.

Built from major holders from Schedules 13D and 13G; stakes of 5% or more it reported on Schedules 13D and 13G (2 companies). Each entity in the chart links to its source.

What it owns

What Mount Logan Capital Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$30.2M4 Dec 31, 2025$55.7M4 Dec 31, 2024−45.8%
Finite-lived intangibles, net$2.8M4 Dec 31, 2025

Properties, in its own words

Our principal executive and administrative offices are located at 650 Madison Avenue, 3rd Floor, New York, NY 10022. This space is leased by BCPA and we reimburse BCPA for a portion of the lease expense pursuant to the Servicing Agreement. This space is used by both segments of Mount Logan.

Mount Logan does not currently have any investments or interests in any real estate on its own behalf, nor does it have for its own benefit any investments or interest in any real estate mortgages or securities of persons engaged in real estate activities, though Ability does from time to time make such investments and hold such interests for the benefit of policyholders.

Item 2 of the 10-K filed Mar 19, 2026.3

Leadership

Who has led Mount Logan Capital Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Edward J. Goldthorpe2025–now

Chief financial officer

  1. Nikita Klassen2025–2026
  2. Brandon Satoren2026–now

Chief operating officer

  1. Jordan Mangum2026–now
Board members and other officers (8)

Former names

  • Yukon New Parent, Inc.Jan 17, 2025 to Sep 12, 20252

Timeline

  1. Oct 15, 20268-K Entered a material agreement; Ended a material agreement18
  2. Aug 11, 20268-K Results of operations19
  3. Jun 26, 20268-K Shareholder vote20
  4. May 14, 20268-K Results of operations21
  5. Apr 15, 20268-K Executive or director change22
  6. Apr 13, 20268-K Entered a material agreement; New debt or obligation23
  7. Mar 19, 20268-K Entered a material agreement; Regulation FD disclosure24
  8. Mar 19, 20268-K Results of operations25
  9. Feb 10, 20268-K Executive or director change; Regulation FD disclosure26
  10. Jan 26, 20268-K Entered a material agreement; New debt or obligation27
  11. Jan 16, 20268-K Entered a material agreement; Regulation FD disclosure28
  12. Dec 29, 20258-K Regulation FD disclosure; Other events29
  13. Sep 22, 2025New chief executive Edward J. Goldthorpe becomes CEO7

Calendar

Coming up

  1. Nov 12, 2026Reports results for the quarter ending Sep/202630

When it reported results

  1. Aug 11, 2026Reported quarterly or annual results19
  2. May 14, 2026Reported quarterly or annual results21
  3. Mar 19, 2026Reported quarterly or annual results25
  4. Nov 14, 2025Reported quarterly or annual results31

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

141 filings to the SEC since October 2021: 1 annual reports, 4 quarterly reports, 19 major events, 45 insider forms, 1 large holders, 71 other. The latest 20:

  1. Oct 15, 20268-K EDGAR
  2. Sep 3, 20264 EDGAR
  3. Aug 25, 20264/A EDGAR
  4. Aug 25, 20264/A EDGAR
  5. Aug 25, 20264/A EDGAR
  6. Aug 25, 20264/A EDGAR
  7. Aug 25, 20264/A EDGAR
  8. Aug 25, 20264/A EDGAR
  9. Aug 20, 20264 EDGAR
  10. Aug 20, 20264 EDGAR
  11. Aug 18, 20264 EDGAR
  12. Aug 11, 20268-K EDGAR
  13. Aug 11, 202610-Q EDGAR
  14. Jun 26, 20268-K EDGAR
  15. Jun 23, 20264 EDGAR
  16. Jun 23, 20264 EDGAR
  17. Jun 23, 20264 EDGAR
  18. Jun 23, 20264 EDGAR
  19. Jun 23, 20264 EDGAR
  20. Jun 23, 20264 EDGAR

The 141 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

7 open-market trades by officers, directors and large owners since October 2021: 7 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 2, 2026Satoren BrandonChief Financial OfficerBuy1,000$3.24$3.2KForm 4
Aug 20, 2026Satoren BrandonChief Financial OfficerBuy500$3.20$1.6KForm 4
Aug 19, 2026Held DavidChief Compliance OfficerBuy946$3.39$3.2KForm 4
Aug 18, 2026Satoren BrandonChief Financial OfficerBuy1,000$3.02$3.0KForm 4
Aug 17, 2026Satoren BrandonChief Financial OfficerBuy1,000$3.13$3.1KForm 4
Jun 22, 2026Goldthorpe Edward J.Chief Executive OfficerBuy7,970$2.77$22.1KForm 4
May 26, 2026Mangum JordanChief Operating OfficerBuy2,115$3.43$7.3KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Stakes it holds

Mount Logan Capital Inc. has told the SEC it owns more than 5% of 2 companies, latest first (Schedules 13D and 13G).

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Nikita Klassen$426.0K35
2024Chief Executive Officer$553.7K35
2024Chief Financial Officer and Corporate Secretary$177.5K$279.7K35
2024President$183.0K35

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 30. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Vanguard Capital Management LLC596,446$2.1M0.0%−452
Jb Capital Partners LP534,729$1.8M0.3%+31,049
HighTower Advisors, LLC286,393$985.2K0.0%+5,069
FIL Ltd197,397$679.0K0.0%No change
Punch & Associates Investment Management, Inc.184,592$635.0K0.0%−34,312
Financial Consulate, Inc165,445$569.1K0.1%−9,512
Geode Capital Management, LLC101,804$350.2K0.0%+5,989
BlackRock, Inc.79,515$273.5K0.0%+32,051
Citadel Advisors LLC75,927$261.2K0.0%−9,751
Vanguard Fiduciary Trust Co75,715$260.5K0.0%+452
Arbiter Partners Capital Management LLC71,010$244.3K0.1%+35,505
Northern Trust Corp25,386$87.3K0.0%No change
National Bank Of Canada /fi/20,097$68.9K0.0%No change
Closed-End Fund Advisors, Inc.17,683$60.8K0.1%−993
Aqr Capital Management LLC16,918$58.2K0.0%New
Calydon Capital14,836$51.0K0.0%New
UBS Group AG10,961$37.7K0.0%−11,316
Charles Schwab Investment Management Inc10,000$34.4K0.0%No change
Shufro Rose & Co LLC10,000$34.4K0.0%No change
Morgan Stanley2,178$7.5K0.0%−472
Osaic Holdings, Inc.2,105$7.2K0.0%+700
Elkhorn Partners Limited Partnership1,500$5.2K0.0%New
Jpmorgan Chase & Co1,380$4.9K0.0%No change
Community Financial Services Group, LLC1,189$4.1K0.0%−425
Royal Bank Of Canada781$3.0K0.0%+470

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Mount Logan Capital Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARMount Logan Capital Inc.1
  • CIK0002051820
  • Employer ID (EIN)33-26989523
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)6282 Investment Advice1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address650 Madison Ave., 3Rd Floor, New York, NY 100221
  • Phone(212) 486-63331
  • Shares outstanding11,196,169 shares; 12,786,770 Common Stock shares as of Mar 17, 20263
  • Public float$0 as of Jun 30, 20254
  • AuditorDeloitte & Touche LLP, New York, New York PCAOB ID 34; it also attests to the company’s internal control over financial reporting3
  • On EDGAR sinceJan 17, 20251
  • Filings147 in all: 425 (24), 8-K (18), 4 (17), 3 (12), CORRESP (11), 3/A (10), 4/A (6), UPLOAD (6)1
    All 34 form types

    10-Q (4), S-4/A (3), SC TO-I/A (3), SCHEDULE 13G (3), SCHEDULE 13G/A (3), 424B3 (2), 8-A12B (2), 8-A12B/A (2), CERT (2), EFFECT (2), S-8 (2), 10-K (1), 40-APP/A (1), 424B1 (1), 8-K/A (1), ARS (1), DEF 14A (1), DEFA14A (1), DEFR14A (1), DRS (1), FWP (1), RW (1), S-1 (1), S-1/A (1), S-4 (1), SC TO-I (1)

  • Latest filingsAnnual report (10-K) Mar 19, 2026
    Quarterly report (10-Q) Aug 11, 2026
    Proxy statement (DEF 14A) Apr 29, 2026
    Latest 8-K (8-K) Oct 15, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.001 par valueMLCIThe Nasdaq Stock Market LLC
8.00% Senior Notes Due 2031MLCILThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Mar 19, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks Mount Logan Capital Inc. names in Item 1A of its 10-K filed Mar 19, 2026: 56 risks under these headings, as written.3

  • Risks Related to the Business – General
  • A portion of our revenues, earnings and cash flow is highly variable, which may make it difficult for us to achieve steady earnings growth on a quarterly basis and may cause the price of shares of our common stock to be volatile.
  • We operate in highly competitive industries, which could limit our ability to achieve our growth strategies and could materially and adversely affect our businesses, financial condition, results of operations, cash flows and prospects.
  • We rely on technology and information systems (including those of BCPA through our Servicing Agreement with BCPA), some of which are controlled by third-party vendors, to maintain the security of our information and technology networks and to conduct our business, and any failures or interruptions of these systems could adversely affect our business and results of operations.
  • Our business, financial condition, results of operations, liquidity and cash flows will depend on the accuracy of our management’s assumptions and estimates, and we could experience significant gains or losses if these assumptions and estimates differ significantly from actual results.
  • Some of the funds ML Management manages invest in illiquid assets, and some of the investments of our insurance business are relatively illiquid. Funds holding such assets and we, as applicable, may fail to realize profits from these assets for a considerable period of time, or lose some or all of the amount that is invested in these assets if such assets are required to be sold at inopportune times or in response to changes in applicable rules and regulations.
  • We rely on the financing markets for the operation of our business.
  • We, and particularly our insurance business, may acquire various financial instruments for purposes of “hedging” or reducing its risks, which may be costly and ineffective and could reduce its cash available for distribution to its shareholders.
  • Difficult political, market or economic conditions may adversely affect our businesses in many ways, which could materially reduce our revenue, net income and cash flow and adversely affect our financial prospects and condition.
  • Changes in laws or regulations governing our operations may adversely affect our business or cause us to alter our business strategy.
  • Any changes in tax regulations or tax reform may have an adverse impact on investors and policyholders.
  • There can be no guarantee as to the timing or amount of dividends, and shareholders may not receive dividends.
The other 45 risks
  • We will be subject to changes in accounting policies or accounting standards.
  • We have and will continue to incur increased costs as a result of operating as a U.S. public company.
  • If we fail to maintain an effective system of disclosure controls and internal control over financial reporting, our ability to produce timely and accurate financial statements or comply with applicable regulations could be impaired.
  • We are an emerging growth company and a smaller reporting company within the meaning of the Securities Act, and if we take advantage of certain exemptions from disclosure requirements available to “emerging growth companies” or “smaller reporting companies,” this could make our securities less attractive to investors and may make it more difficult to compare our performance with other public companies.
  • Any misconduct by Legacy MLC’s or 180 Degree Capital’s former, and our current and future, employees, directors, advisers, third-party service providers or others affiliated with us could harm us by impairing our ability to attract and retain investors and by subjecting us to significant legal liability, regulatory scrutiny and reputational harm.
  • Litigation filed against 180 Degree Capital, Legacy MLC and/or Mount Logan in connection with the Business Combination could result in substantial costs.
  • Risks related to the Business – Our Relationship with BCPA
  • We rely on BCPA and Key BCPA Personnel.
  • Our relationship with BCPA has and will continue to result in significant actual and potential conflicts of interest that could impact our business.
  • BCPA is able to terminate the Staffing and Resource Agreement and Servicing Agreement upon 60 days’ written notice, and we, who have a limited number of employees, may not be able to find a suitable replacement for such services provided under those agreements within that time, resulting in a disruption in our operations, which could adversely affect our financial condition, business or results of operations.
  • The Staffing and Resource Agreement or Servicing Agreement with BCPA may be amended or otherwise modified from time to time, or other similar or alternative arrangements may be entered into with BCPA from time to time, and such amendments, modifications or other arrangements may create different incentives for BCPA than exist today or may otherwise create additional conflicts of interest.
  • BCPA’s liability is limited under the Servicing Agreement and Staffing and Resource Agreement, and we are required to indemnify BCPA against certain liabilities, which may lead BCPA to act in a riskier manner on our behalf than it would when acting for our own account.
  • Our financial condition and results of operations depend in large part on BCPA’s ability to effectively support our business.
  • Because our business model depends upon relationships with various counterparties, the inability of BCPA to maintain or develop these relationships, or the failure of these relationships to generate business opportunities, could adversely affect our business.
  • Risks Related to the Business – Asset Management
  • The asset management business is competitive.
  • We may experience a decline in revenue associated with our Asset Management segment for a variety of reasons.
  • We may be subject to focus by certain current or prospective clients or other stakeholders on environmental, social and governance matters.
  • Valuations for illiquid assets under management entail significant complications.
  • We, through ML Management, may only manage a limited number of funds and investments.
  • Risks Related to the Business – Insurance
  • Our insurance business is heavily regulated and changes in regulation could reduce our profitability.
  • Ability operates in a highly competitive industry that includes a number of companies, many of which are larger and more well-known, which could limit Ability’s capacity to increase or maintain market share and/or margins.
  • Differences between Ability’s policyholder behavior estimates, reserve assumptions and actual claims experience, in particular with respect to the timing and magnitude of claims and surrenders, may adversely affect Ability’s results of operations or financial condition.
  • Estimates used in the preparation of financial statements and models for insurance products may differ materially from actual experience.
  • Ability’s historical growth rates may not be indicative of its future growth, and Ability may not be able to identify attractive insurance markets, reinsurance opportunities or investments with returns that are as favorable as Ability’s historical returns and grow new business volumes at historical levels.
  • Interest rate fluctuations could negatively affect the income Ability derives from the difference between the interest rates it earns on its investments and interest it pays under its reinsurance contracts.
  • Ability faces risks associated with business it reinsures and business it cedes to reinsurers and which could cause a material adverse effect on Ability’s business, results of operations and financial condition.
  • The determination of the amount of impairments and allowances for credit losses recognized on Ability’s investments is highly subjective and could materially affect its results of operations or financial condition.
  • Ability’s liabilities for insurance products may prove to be inadequate, requiring Ability to increase liabilities which results in reduced net income and shareholders’ equity.
  • Ability is subject to regulatory capital requirements in the United States.
  • Ability faces risks associated with credit.
  • Ability faces due diligence risks.
  • Ability faces risks from borrower clients.
  • Ability faces risks from prepayments by borrower clients.
  • Ability faces risk of default by and bankruptcy of a borrower client.
  • Second priority liens on collateral securing debt investments that Ability makes may be subject to control by senior creditors with first priority liens. If there is a default, the value of the collateral may not be sufficient to repay in full both the first priority creditors and Ability.
  • Ability is subject to additional risks associated with investments in the form of loan participation interests.
  • Ability faces risk on the collateral securing Ability’s loans.
  • Ability may not be able to exercise control over borrower clients.
  • Ability faces risks related to securities of borrower clients.
  • Use of leverage and changes in interest rates may affect Ability’s cost of capital and net investment income.
  • General Risks
  • The market price and trading volume of our common stock may be volatile, which could result in rapid and substantial losses for our stockholders.
  • Climate change-related risks and regulatory and other efforts to address climate change could adversely affect our business.
  • We will be subject to risks associated with pandemics, epidemics, disease outbreaks and other public health crises, which could impact our business, financial condition and results of operations in the future.
  • Delaware law, our amended and restated certificate of incorporation and our amended and restated bylaws contain certain provisions, including anti-takeover provisions that limit the ability of stockholders to take certain actions and could delay or discourage takeover attempts that stockholders may consider favorable.
  • Our amended and restated certificate of incorporation could prevent us from benefiting from corporate opportunities that might otherwise have been available to us.
  • Our amended and restated certificate of incorporation designates the state courts of the State of Delaware in and for New Castle County as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or other employees.

Legal proceedings

From time to time, we are involved in various legal proceedings, lawsuits and claims incidental to the conduct of our business. Our business is also subject to extensive regulation, which may result in regulatory proceedings against us. We are not currently party to any material legal proceedings.

The opening of Item 3, Legal Proceedings.3

Sources

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