RYAN on NYSE

RYAN SPECIALTY HOLDINGS, INC.

RYAN SPECIALTY HOLDINGS, INC. is an American insurance agents company based in Chicago, listed on NYSE (RYAN).2

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Last updated Oct 21, 2026.

Overview

$3.0BRevenue, fiscal 20253
$63.4MNet income, fiscal 20253

Compare with Erie Insurance Group, SelectQuote, Inc. or Brown & Brown, or pick any stock.

  • TickerRYAN on NYSE2
  • IndustryInsurance Agents, Brokers & Service2
  • HeadquartersChicago, United States2
  • Incorporated inDE4
  • Business address155 North Wacker Drive, Suite 4000, Chicago, Il 606064
  • Filer categoryLarge accelerated filer4
  • Legal formCorporation2
  • LEI549300K52N7QBO3PYY452
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressC/O THE CORPORATION TRUST COMPANY, 19801 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 47594902

Our core value proposition to retail insurance brokers and carriers is delivering best-in-class intellectual capital.6 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

16.5%Operating margin3
2.1%Net margin3
21.9%Revenue growth, 20253
9.8%Return on equity3
5.08×Debt to equity3

What sells

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

Products and services

Wholesale Brokerage brought in 53% of the revenue RYAN SPECIALTY HOLDINGS, INC. broke down this way in fiscal 2025.

  1. Wholesale Brokerage$1.6B353%up 7% from 2024
  2. Underwriting Management$1.0B334%up 58% from 2024
  3. Binding Authorities$370.2M312%up 16% from 2024
Products and services by year
Products and services202320242025
Wholesale Brokerage$1.3B$1.5B$1.6B
Underwriting Management$431.6M$646.2M$1.0B
Binding Authorities$276.0M$320.4M$370.2M

Regions

United States brought in 94% of the revenue RYAN SPECIALTY HOLDINGS, INC. broke down this way in fiscal 2025.

  1. United States$2.9B394%up 20% from 2024
  2. Outside the United States$186.9M36%up 51% from 2024
Regions by year
Regions202320242025
United States$2.0B$2.4B$2.9B
Outside the United States$55.0M$123.7M$186.9M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs95¢$2.9B
  • Income tax3¢$79.0M
  • Profit2¢$63.4M

Out of $3.0B in revenue.3

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid9¢$61.0M
  • Kept or used elsewhere91¢$582.7M

Out of $643.7M of cash from operations.3

Financial statements

Revenue789103$3.0B in 2025+291% since 2019
0$1.0B$2.0B$3.0B2019: $765.1M$765.1M20192020: $1.0B$1.0B2020+33%2021: $1.4B$1.4B2021+41%2022: $1.7B$1.7B2022+19%2023: $2.0B$2.0B2023+18%2024: $2.5B$2.5B2024+21%2025: $3.0B$3.0B2025+22%
Operating income789103$493.6M in 2025+389% since 2019
0$200.0M$400.0M$600.0M2019: $101.0M$101.0M20192020: $158.5M$158.5M2020+57%2021: $186.6M$186.6M2021+18%2022: $289.5M$289.5M2022+55%2023: $359.1M$359.1M2023+24%2024: $427.8M$427.8M2024+19%2025: $493.6M$493.6M2025+15%
Net income789103$63.4M in 2025−1% since 2019
0$25.0M$50.0M$75.0M$100.0M2019: $64.2M$64.2M20192020: $68.1M$68.1M2020+6%2021: $65.9M$65.9M2021−3%2022: $61.1M$61.1M2022−7%2023: $61.0M$61.0M2023−0%2024: $94.7M$94.7M2024+55%2025: $63.4M$63.4M2025−33%

Every line of the income statement as filed: the last 3 fiscal years, latest first.3

Period ending2025-12-312024-12-312023-12-31
Net commissions and fees$3.0B$2.5B$2.0B
Fiduciary investment income$56.5M$60.0M$51.0M
Total revenue$3.1B$2.5B$2.1B
Compensation and benefits$1.8B$1.6B$1.3B
General and administrative$453.5M$352.1M$276.2M
Amortization$274.4M$157.8M$106.8M
Depreciation$13.1M$9.8M$9.0M
Change in contingent consideration$13.1M-$22.9M$5.4M
Total operating expenses$2.6B$2.1B$1.7B
OPERATING INCOME$493.6M$427.8M$359.1M
Interest expense, net$222.4M$158.4M$119.5M
Income from equity method investments-$21.2M-$18.2M-$8.7M
Other non-operating loss (income)-$692.0K$15.0M$10.4M
INCOME BEFORE INCOME TAXES$293.2M$272.6M$237.9M
Income tax expense$79.0M$42.6M$43.4M
NET INCOME$214.2M$229.9M$194.5M
Net income attributable to non-controlling interests, net of tax$150.8M$135.2M$133.4M
NET INCOME ATTRIBUTABLE TO RYAN SPECIALTY HOLDINGS, INC.$63.4M$94.7M$61.0M

Compare RYAN SPECIALTY HOLDINGS, INC. with another company

Corporate structure

RYAN SPECIALTY HOLDINGS, INC. sits at the top of its group. 107 entities, 15 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of RYAN SPECIALTY HOLDINGS, INC.

  • RYAN SPECIALTY HOLDINGS, INC. Chicago, Illinois, United States
    • AccuRisk Ancillary Solutions LLC Subsidiary · United States
    • AccuRisk Holdings LLC Subsidiary · United States
    • AccuRisk Solutions LLC Subsidiary · United States
    • AgCentric Insurance Services, LLC Subsidiary · United States
    • Albus Energy Risks Limited Subsidiary · United Kingdom
    • Albus Management LLP Subsidiary · United Kingdom
    • Aqueous Management Limited Subsidiary · United Kingdom
    • Case Management Specialists, LLC Subsidiary · United States
    • Castel Construction Risk Limited Subsidiary · United Kingdom
    • Castel NAPL Limited Subsidiary · United Kingdom
    • Castel Risk Partners (No. 3) LLP Subsidiary · United Kingdom
    • Celerity Risk Solutions, a series of RSG Underwriting Managers, LLC Subsidiary · United States
    • Clach Casualty Underwriting Managers, a series of RSG Underwriting Managers, LLC Subsidiary · United States
    • Concord Specialty Risk of Canada, LLC Subsidiary · United States
    • Emerald Underwriting Managers, a series of RSG Underwriting Managers, LLC Subsidiary · United States
    • EXAA Limited Subsidiary · United Kingdom
    • Freberg Environmental, LLC Subsidiary · United States
    • Global Special Risks, a series of RSG Specialty, LLC Subsidiary · United States
    • Greenhill Underwriting Managers, a series of RSG Underwriting Managers, LLC Subsidiary · United States
    • Hunter George & Partners Limited Subsidiary · United Kingdom
    • Innovisk (UK) Limited Subsidiary · United Kingdom
    • Innovisk Bidco1 Limited Subsidiary · United Kingdom
    • Innovisk Bidco2 Limited Subsidiary · United Kingdom
    • Innovisk Capital Partners, LLP Subsidiary · United Kingdom
    • Innovisk Europe (UK Branch) Subsidiary · United Kingdom
    • and 81 more

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What RYAN SPECIALTY HOLDINGS, 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.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, net$69.5M3 Dec 31, 2025$50.2M3 Dec 31, 2024+38.3%
Operating-lease assets (leased space)$130.5M3 Dec 31, 2025$133.3M3 Dec 31, 2024−2.1%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$158.3M3 Dec 31, 2025$540.2M3 Dec 31, 2024−70.7%
Stakes in other companies (equity method)$110.0M3 Dec 31, 2025$70.9M3 Dec 31, 2024+55.2%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$3.2B3 Dec 31, 2025$2.6B3 Dec 31, 2024+21.9%
Intangible assets, net (excluding goodwill)$119.6M3 Dec 31, 2025$83.7M3 Dec 31, 2024+43.0%
Finite-lived intangibles, gross$2.7B3 Dec 31, 2025$2.2B3 Dec 31, 2024+18.7%
Accumulated amortization$1.0B3 Dec 31, 2025$762.6M3 Dec 31, 2024+36.3%
Finite-lived intangibles, net$1.6B3 Dec 31, 2025$1.5B3 Dec 31, 2024+9.5%

Properties, in its own words

Our corporate headquarters are in Chicago, Illinois, where we currently lease just under 50,000 square feet of

office space under a leased space that incorporates our remote work flexibility into our post-pandemic operating model and

The rest of Item 2

we will continue to look at all of our offices to maximize size and efficiency. We have office locations in 33 U.S. states as

well as in the United Kingdom, Europe, Canada, Australia, the United Arab Emirates, India, and Singapore where, as of

December 31, 2025, we lease a total of approximately 1,180,000 square feet. We believe that our facilities are adequate for

our current needs.

Item 2 of the 10-K filed Feb 13, 2026.6

Leadership

Who has led RYAN SPECIALTY HOLDINGS, INC., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (22)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive Officer, DirectorTimothy W. Turner named May 30, 2023 to Dec 22, 202343
  • Executive OfficerLisa J. Paschal named May 30, 202344
  • DirectorHenry S. Bienen named May 30, 2023 to Dec 22, 202343
  • DirectorRobert J. Le Blanc named May 30, 2023 to Dec 22, 202343

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • AccuRisk Ancillary Solutions LLC United States, Delaware5
  • AccuRisk Holdings LLC United States, Delaware5
  • AccuRisk Solutions LLC United States, Delaware5
  • AgCentric Insurance Services, LLC United States, California5
  • Albus Energy Risks Limited United Kingdom5
  • Albus Management LLP United Kingdom5
  • Aqueous Management Limited United Kingdom5
  • Case Management Specialists, LLC United States, Wisconsin5
  • Castel Construction Risk Limited United Kingdom5
  • Castel NAPL Limited United Kingdom5
  • Castel Risk Partners (No. 3) LLP United Kingdom5
  • Celerity Risk Solutions, a series of RSG Underwriting Managers, LLC United States, Delaware5
  • Clach Casualty Underwriting Managers, a series of RSG Underwriting Managers, LLC United States, Delaware5
  • Concord Specialty Risk of Canada, LLC United States, Delaware5
  • EXAA Limited United Kingdom5
  • Emerald Underwriting Managers, a series of RSG Underwriting Managers, LLC United States, Delaware5
  • Freberg Environmental, LLC United States, Delaware5
  • Global Special Risks, a series of RSG Specialty, LLC United States, Delaware5
  • Greenhill Underwriting Managers, a series of RSG Underwriting Managers, LLC United States, Delaware5
  • Hunter George & Partners Limited United Kingdom5
  • Innovisk (UK) Limited United Kingdom5
  • Innovisk Bidco1 Limited United Kingdom5
  • Innovisk Bidco2 Limited United Kingdom5
  • Innovisk Capital Partners, LLP United Kingdom5
All 106 listed subsidiaries
  • Innovisk Europe (UK Branch) United Kingdom5
  • Innovisk India Private Limited India5
  • Innovisk London Limited United Kingdom5
  • Innovisk Midco Limited United Kingdom5
  • Innovisk Topco Limited United Kingdom5
  • Inspire Bidco LLC United States, Delaware5
  • International Facilities Insurance Services, Inc. United States, California5
  • Irwin Siegel Agency, a series of RSG Specialty, LLC United States, Delaware5
  • JEM Underwriting Managers, LLC United States, Delaware5
  • KRP Managers, LLC United States, Delaware5
  • Keystone Risk Brokerage, LTD Bermuda5
  • Life Science Risk, a series of RSG Underwriting Managers, LLC United States, Delaware5
  • Maelor Jersey Limited Jersey5
  • Matrix Group Benefits, LLC United States, Maine5
  • Matrix Risk Management Services, LLC United States, Maine5
  • New Ryan Specialty, LLC United States, Delaware5
  • PFLA Limited United Kingdom5
  • Paradiso Risks Limited United Kingdom5
  • Power Energy Risk (PERse), a series of RSG Underwriting Managers, LLC United States, Delaware5
  • RSG Group Program Administrator, LLC United States, Delaware5
  • RSG Insurance Services of Canada Limited Canada5
  • RSG Platform, LLC United States, Delaware5
  • RSG Specialty, LLC United States, Delaware5
  • RSG Underwriting Managers, LLC United States, Delaware5
  • Ryan Alternative Capital Advisors, a series of RSG Specialty, LLC United States, Delaware5
  • Ryan Alternative Risk TN Manager LLC United States, Tennessee5
  • Ryan Alternative Risk, a series of RSG Specialty, LLC United States, Delaware5
  • Ryan Financial Lines, a series of RSG Underwriting Managers, LLC United States, Delaware5
  • Ryan Re Underwriting Managers, LLC United States, Delaware5
  • Ryan Services Group, LLC United States, Delaware5
  • Ryan Specialty (Singapore) Pte Limited Singapore5
  • Ryan Specialty Australia Pty Limited Australia5
  • Ryan Specialty Benefits Captive, LLC United States, Vermont5
  • Ryan Specialty Benefits, a series of RSG Specialty, LLC United States, Delaware5
  • Ryan Specialty Corporate Services Limited United Kingdom5
  • Ryan Specialty Europe GmbH Germany5
  • Ryan Specialty Europe GmbH – Danish Branch Denmark5
  • Ryan Specialty Europe GmbH – Dutch Branch Netherlands5
  • Ryan Specialty Europe GmbH – Irish Branch Ireland5
  • Ryan Specialty Europe GmbH – Polish Branch Poland5
  • Ryan Specialty Europe GmbH – Spanish Branch Spain5
  • Ryan Specialty Europe GmbH – Swedish Branch Sweden5
  • Ryan Specialty Europe GmbH – UK Branch United Kingdom5
  • Ryan Specialty Germany GmbH Germany5
  • Ryan Specialty Group Spain Agencia de Suscripcion SL Spain5
  • Ryan Specialty Holdings International Limited United Kingdom5
  • Ryan Specialty International Limited United Kingdom5
  • Ryan Specialty Latin America, LLC United States, Delaware5
  • Ryan Specialty Newco Holdings Limited United Kingdom5
  • Ryan Specialty Public Entity, a series of RSG Underwriting Managers, LLC United States, Delaware5
  • Ryan Specialty Service Centre Limited United Kingdom5
  • Ryan Specialty Transactional Risks US, a series of RSG Underwriting Managers, LLC United States, Delaware5
  • Ryan Specialty Transportation Underwriting Managers, a series of RSG Underwriting Managers, LLC United States, Delaware5
  • Ryan Specialty Underwriting International Managers Limited United Kingdom5
  • Ryan Specialty, LLC United States, Delaware5
  • Ryan Transactional Risk, a series of RSG Underwriting Managers, LLC United States, Delaware5
  • Sapphire Blue, a series of RSG Underwriting Managers, LLC United States, Delaware5
  • Smooth Waters, LLC United States, Delaware5
  • Square Pegs Risk Limited United Kingdom5
  • Stetson Insurance Funding, LLC United States, Delaware5
  • SuiteLife Underwriting Managers, a series of RSG Specialty, LLC United States, Delaware5
  • Sunstone Assurance II, LLC United States, Tennessee5
  • Sunstone Assurance, LLC United States, Delaware5
  • Sunstone Holdings II, Inc. United States, Tennessee5
  • Sunstone Holdings, Inc. United States, Delaware5
  • Talus Insurance Brokers Limited United Kingdom5
  • Technical Risk Underwriters, a series of RSG Underwriting Managers, LLC United States, Delaware5
  • Themis Capital LLP United Kingdom5
  • Transact Risk Partners LLP United Kingdom5
  • Trident Marine Managers, a series of RSG Specialty, LLC United States, Delaware5
  • U.S. Group & Pension United States, Maine5
  • US Assure E&S, a series of RSG Specialty, LLC United States, Delaware5
  • US Assure Insurance Services of Florida, LLC United States, Delaware5
  • US Assure, LLC United States, Delaware5
  • USQRisk, a series of RSG Underwriting Managers, LLC United States, Delaware5
  • Velocity Claims, LLC United States, Delaware5
  • Velocity Risk International Limited United Kingdom5
  • Velocity Risk Underwriters, LLC United States, Delaware5
  • Verdant Underwriting Managers, a series of RSG Underwriting Managers, LLC United States, Delaware5
  • Vertus London Limited United Kingdom5
  • WKFC Underwriting Managers, a series of RSG Underwriting Managers, LLC United States, Delaware5
  • Yachtpod Risks Partners LLP United Kingdom5

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • RYAN SPECIALTY GROUP HOLDINGS, INC.Apr 9, 2021 to May 18, 20224
  • MAVERICK SPECIALTY, INC.Mar 15, 2021 to Apr 23, 20214

Timeline

  1. Aug 7, 20268-K Entered a material agreement45
  2. Jul 30, 20268-K Results of operations; Other events46
  3. May 26, 20268-K Regulation FD disclosure47
  4. May 1, 20268-K Shareholder vote48
  5. Apr 30, 20268-K Results of operations; Other events49
  6. Apr 30, 20268-K Entered a material agreement50
  7. Feb 12, 20268-K Director nominations; Other events51
  8. Feb 12, 20268-K Results of operations; Exit or restructuring costs; Regulation FD disclosure52
  9. Dec 8, 20258-K Executive or director change; Regulation FD disclosure53
  10. Oct 30, 20258-K Results of operations; Other events54
  11. Oct 8, 20258-K Executive or director change; Regulation FD disclosure55
  12. Sep 9, 20258-K Executive or director change56
  13. Nov 7, 2024New chief executive Benjamin Miles Wuller becomes CEO15
  14. Jul 21, 2021New chief executive Patrick George Ryan becomes CEO16
  15. Dec 2, 2009Founded RYAN SPECIALTY HOLDINGS, INC. is founded2

Calendar

Coming up

  1. Oct 29, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $0.47 a share, on Oct 30, 2025.57

When it reported results

  1. Jul 30, 2026Reported quarterly or annual results46
  2. Apr 30, 2026Reported quarterly or annual results49
  3. Feb 12, 2026Reported quarterly or annual results52
  4. Oct 30, 2025Reported quarterly or annual results54
  5. Jul 31, 2025Reported quarterly or annual results58
  6. May 1, 2025Reported quarterly or annual results59
  7. Feb 20, 2025Reported quarterly or annual results60
  8. Oct 30, 2024Reported quarterly or annual results61

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

Filings

466 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 56 major events, 210 insider forms, 21 large holders, 2 private raises, 157 other. The latest 20:

  1. Sep 9, 20264 EDGAR
  2. Sep 8, 2026144 EDGAR
  3. Aug 18, 20264 EDGAR
  4. Aug 14, 20264 EDGAR
  5. Aug 13, 2026144 EDGAR
  6. Aug 12, 20264 EDGAR
  7. Aug 7, 20268-K EDGAR
  8. Aug 7, 2026SCHEDULE 13G/A EDGAR
  9. Aug 6, 20264 EDGAR
  10. Aug 6, 20264 EDGAR
  11. Aug 6, 20264 EDGAR
  12. Jul 31, 202610-Q EDGAR
  13. Jul 30, 20268-K EDGAR
  14. Jul 24, 20264 EDGAR
  15. Jun 15, 20264 EDGAR
  16. Jun 11, 20264 EDGAR
  17. Jun 8, 20264 EDGAR
  18. Jun 4, 20264 EDGAR
  19. Jun 4, 20264 EDGAR
  20. Jun 1, 20264 EDGAR

The 466 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

135 open-market trades by officers, directors and large owners since October 2021: 27 buys and 108 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 8, 2026MULSHINE BRENDAN MARTINCo-President and CROSale40,000$40.51$1.6MForm 4
Aug 13, 2026Conklin MichaelEVP & CHROSale2,043$42.26$86.3KForm 4
Jun 12, 2026Kuczinski Anthony JDirectorBuy500$35.77$17.9KForm 4
Jun 11, 2026Kuczinski Anthony JDirectorBuy2,500$34.83$87.1KForm 4
Jun 10, 2026ROGERS JOHN W JRDirectorBuy7,500$35.16$263.7KForm 4
Jun 5, 2026RYAN PATRICK GExecutive ChairmanBuy120,000$32.50$3.9MForm 4
Jun 3, 2026Hamilton Janice MChief Financial OfficerBuy6,300$31.79$200.3KForm 4
Jun 3, 2026KATZ MARK STEPHENEVP & General CounselBuy3,215$31.07$99.9KForm 4
Feb 23, 2026RYAN PATRICK G JRDirectorBuy25,500$39.96$1.0MForm 4
Feb 20, 2026RYAN PATRICK G JRDirectorBuy365$41.41$15.1KForm 4
Dec 12, 2025TURNER TIMOTHY WILLIAMChief Executive OfficerSale129,570$53.61$6.9MForm 4
Dec 5, 2025Onex RSG Holdings LPDirectorSale4,145,621$54.50$225.9MForm 4
Sep 12, 2025RYAN PATRICK GExecutive ChairmanBuy276,634$51.84$14.3MForm 4
Sep 2, 2025RYAN PATRICK G JRDirectorBuy100$55.54$5.6KForm 4
Jun 13, 2025KATZ MARK STEPHENEVP & General CounselSale14,377$65.84$946.6KForm 4
Jun 3, 2025BOLGER DAVID PDirectorSale5,000$70.80$354.0KForm 4
May 16, 2025BICKHAM JEREMIAH RAWLINSPresidentSale50,000$70.09$3.5MForm 4
May 12, 2025Kuczinski Anthony JDirectorBuy300$70.37$21.1KForm 4
Apr 1, 2025Conklin MichaelEVP & CHROBuy7,637Form 4
Mar 14, 2025MULSHINE BRENDAN MARTINCo-President and CROSale30,000$69.30$2.1MForm 4

All 135 trades can be filtered by person here when JavaScript is on.

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.

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
2025Jeremiah R. Bickham$646.3K$4.9M70
2025Stephen P. Keogh59$385.4K$2.6M70
2025Benjamin M. Wuller50$830.8K$1.7M70
2025Timothy W. Turner65$1.4M$1.5M70
2025Patrick G. Ryan88$1.2M$1.2M70
2025Janice M. Hamilton44$600.0K$985.8K70
2024Chief Executive Officer$1.2M$5.9M70
2024CEO Ryan SpecialtyUnderwriting Managers$726.0K$4.9M70
2024Former President$649.0K$4.3M70
2024Chief Financial Officer$429.8K$4.0M70
2024Founder and ExecutiveChairman of the Board$1.4M$4.0M70
2023Founder and ExecutiveChairman of the Board$1.4M$4.3M70
2023Chief Executive Officer$1.2M$3.9M70
2023Former President$600.0K$1.6M70

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Dec 22, 2023Filed a private offering of equity Form D: named in the filing: David P. Bolger, Nicholas L. Cortezi, Henry S. Bienen, Mark S. Katz, Robert J. Le Blanc, Timothy W. Turner Form D
  2. May 30, 2023Filed a private offering of equity Form D: named in the filing: Jeremiah R. Bickham, Lisa J. Paschal, William J. Devers, Robert J. Le Blanc, Michael D. O'Halleran, Mark S. Katz Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.10,494,326$396.3M0.0%−375,499
Vulcan Value Partners, LLC7,912,669$298.8M9.1%+1,317,334
Orbis Allan Gray Ltd6,307,845$238.2M0.8%New
Neuberger Berman Group LLC5,572,840$210.5M0.1%+2,467,296
Vanguard Portfolio Management LLC5,266,873$198.9M0.0%−75,394
Vanguard Capital Management LLC5,218,054$197.0M0.0%+17,262
Fmr LLC5,130,211$193.7M0.0%+4,803,478
State Street Corp3,706,058$139.9M0.0%+72,722
Polar Capital Holdings Plc2,940,000$111.0M0.3%+490,000
Bank Of Montreal /can/2,767,113$104.5M0.0%+479,238
Stephens Investment Management Group LLC2,716,484$102.6M1.1%+292,147
Montrusco Bolton Investments Inc.2,689,031$101.5M1.6%−1,333,475
Independent Franchise Partners LLP2,645,789$99.9M0.7%−175,065
Kayne Anderson Rudnick Investment Management LLC2,343,513$88.5M0.3%−661,939
UBS Group AG2,201,085$83.1M0.0%+1,410,381
Geode Capital Management, LLC2,124,953$80.3M0.0%−145,221
Manufacturers Life Insurance Company, The2,014,407$76.1M0.1%+1,469,153
Morgan Stanley1,682,829$63.5M0.0%−596,030
Norges Bank1,546,443$58.4M0.0%New
Alberta Investment Management Corp1,421,400$53.7M0.3%New
Fenimore Asset Management Inc1,306,606$49.3M1.0%+581,774
Focus Partners Wealth1,272,983$48.1M0.0%−6,969
Sumitomo Mitsui Trust Group, Inc.1,269,410$47.9M0.0%−7,632
Jpmorgan Chase & Co1,155,677$45.4M0.0%+1,006,528
Charles Schwab Investment Management Inc1,202,737$45.4M0.0%+45,775

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

SEC filer profile

How RYAN SPECIALTY HOLDINGS, INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARRYAN SPECIALTY HOLDINGS, INC.1
  • CIK0001849253
  • Employer ID (EIN)86-25263446
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company6
  • Incorporated inDelaware6
  • Fiscal year endsDecember 311
  • Industry code (SIC)6411 Insurance Agents, Brokers & Service1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address155 North Wacker Drive, Suite 4000, Chicago, IL 606061
  • Phone312-784-60011
  • Shares outstanding129,680,816 Common Class A shares; 134,508,885 Common Class B shares as of Feb 9, 20266
  • Public float$8.6B as of Jun 30, 20256
  • AuditorDeloitte & Touche LLP, Chicago, Illinois PCAOB ID 34; it also attests to the company’s internal control over financial reporting6
  • On EDGAR sinceMar 15, 20211
  • Filings533 in all: 4 (219), 144 (135), 8-K (58), 3 (26), 10-Q (16), SC 13G/A (8), SC 13G (6), 10-K (5)1
    All 33 form types

    CORRESP (5), DEF 14A (5), DEFA14A (5), SCHEDULE 13G/A (5), ARS (4), UPLOAD (4), 5 (3), S-1/A (3), 4/A (2), 424B4 (2), D (2), DRS/A (2), DRSLTR (2), PRE 14A (2), S-8 (2), SC 13D/A (2), SCHEDULE 13G (2), 3/A (1), 8-A12B (1), CERT (1), DRS (1), EFFECT (1), S-1 (1), S-3ASR (1), SC 13D (1)

  • Latest filingsAnnual report (10-K) Feb 13, 2026
    Quarterly report (10-Q) Jul 31, 2026
    Proxy statement (DEF 14A) Mar 17, 2026
    Latest 8-K (8-K) Aug 7, 2026

Securities registered for trading

ClassSymbolExchange
Class A Common Stock, $0.001 par value per shareRYANThe New York Stock Exchange

From the cover page of the 10-K filed Feb 13, 2026 (Section 12(b) of the Exchange Act).6

Risk factors and legal proceedings

The risks RYAN SPECIALTY HOLDINGS, INC. names in Item 1A of its 10-K filed Feb 13, 2026: 75 risks under these headings, as written.6

  • Our operating and financial results are subject to various risks and uncertainties. The risks and uncertainties
  • described below are not the only ones we face. Additional risks and uncertainties that we are unaware of, or that we
  • currently believe are not material, may also become important factors that affect us. If any of the following risks occur, our
  • business, financial condition, operating results, and prospects could be materially and adversely affected. Because of the
  • following factors, as well as other factors affecting our businesses, financial condition, operating results, and prospects,
  • past financial performance should not be considered a reliable indicator of future performance, and investors should not
  • rely on historical trends to anticipate trends or results in the future.
  • Risks Related to Our Business and Industry
  • Risks Related to Intellectual Property, Data Privacy, and Cybersecurity
  • Risks Related to Legal and Regulatory Issues
  • Risks Related to Our Indebtedness
  • Risks Related to Our Organizational Structure and our Class A Common Stock
The other 68 risks
  • If we fail to successfully recruit and retain our management team, revenue producers, including wholesale brokers and
  • underwriters, and other key employees, and plan and prepare for the succession of our senior management, we may not
  • be able to execute our business strategy.
  • Our business may be harmed if we lose our relationships with retail brokers, insurance carriers, or other trading
  • partners, we fail to maintain good relationships with retail brokers, insurance carriers, or other trading partners, we
  • become dependent upon a limited number of retail brokers, insurance carriers, or other trading partners or we fail to
  • develop new retail broker, insurance carrier, or other trading partner relationships.
  • If our underwriting models contain errors or are otherwise ineffective or our underwriters do not demonstrate sufficient
  • skill, our reputation and relationships with insurance carriers, retail brokers, and agents could be harmed.
  • Damage to our reputation could have a material adverse effect on our business and we are subject to economic and
  • reputational harm if companies with which we do business engage in negligent, grossly negligent, misleading, or
  • fraudulent behavior.
  • Our business depends on a strong brand, and any failure to maintain, protect, and enhance our brand would hurt our
  • ability to grow our business, particularly in new markets where we have limited brand recognition.
  • Our business strategy includes plans to continue to make acquisitions and we face risks associated with the evaluation
  • of potential acquisitions, the integration of acquired businesses, and the introduction of new products, lines of business,
  • geographies, and markets.
  • Our inability to successfully recover should we experience a disaster or other business continuity problem could cause
  • material financial loss, loss of human capital, regulatory actions, reputational harm, or legal liability.
  • We rely on third parties to perform key functions of our business operations enabling our provision of services to our
  • clients. These third parties may act in ways that could harm our business.
  • If we cannot maintain the valuable aspects of our Company’s culture as we grow, our business may be harmed.
  • We may be negatively affected by the cyclicality of and the economic conditions in the markets in which we operate.
  • Our business, and therefore our results of operations and financial condition, may be adversely affected by conditions
  • that result in reduced insurer capacity.
  • Our international operations expose us to various international risks that could adversely affect our business.
  • Changes in interest rates and deterioration of credit quality could reduce the value of our cash balances or interest
  • income and adversely affect our financial condition or results.
  • We face significant competitive pressures in our business.
  • Because the revenue we earn on the sale of certain insurance products is based on premiums and commission rates set
  • by insurers, any decreases in these premiums or commission rates, or actions by insurers seeking repayment of
  • commissions, could result in revenue decreases or expenses to us.
  • If the contracts that govern our MGAs or MGUs are terminated or changed, our business and operating results could be
  • Supplemental and contingent commissions we receive from insurance carriers are less predictable than standard
  • commissions, and any decrease in the amount of these kinds of commissions we receive could adversely affect our
  • If we are unable to collect our receivables, our results of operations and cash flows could be adversely affected.
  • Our current market share may decrease as a result of disintermediation within the insurance industry, including
  • increased competition from insurance companies, technology companies, and the financial services industry, as well as
  • the shift away from traditional insurance markets.
  • We are exposed to risk of impairment of goodwill and intangibles; specifically, our goodwill may become impaired in
  • We may use artificial intelligence in our business, and challenges with properly adopting and managing its use could
  • result in reputational harm, competitive harm, legal liability, and could adversely affect our results of operations.
  • We have experienced strong growth in recent years, and our recent growth rates may not be indicative of our future
  • growth. As our costs increase, we may not be able to generate sufficient revenue to achieve and, if achieved, maintain
  • profitability.
  • We may lose clients or business as a result of consolidation within, or the expansion of specialty services provided by,
  • the retail insurance brokerage industry.
  • Our inability to achieve the intended results of our restructuring program, Empower, could impact our businesses,
  • financial condition, and results of operations.
  • Our growth strategy may involve opening new offices, entering new product lines or establishing new distribution
  • channels, and will involve hiring new brokers and underwriters, which will require substantial investment by us and
  • may adversely affect our results of operations and cash flows in a particular period.
  • We rely on data from our clients and third parties for pricing and underwriting insurance policies, the unavailability or
  • inaccuracy of which could limit the functionality of our products and disrupt our business.
  • The reinsurance industry is highly competitive and cyclical and certain subsidiaries and entities in which we have
  • invested may not be able to compete effectively in the future.
  • The occurrence of natural or man-made disasters could result in declines in business and increases in claims that could
  • adversely affect our financial condition, results of operations, and cash flows.
  • Pandemics or other outbreaks of contagious diseases and measures undertaken to mitigate their spread could materially
  • adversely affect our business, financial condition, and results of operations and those of our customers, suppliers, and
  • other trading partners.
  • The economic and political conditions of the countries and regions in which we operate could have an adverse impact
  • on our business, financial condition, operating results, liquidity, and prospects for growth.
  • We could incur substantial losses from our cash and investment accounts if one of the financial institutions that we use
  • fails or is taken over by the U.S. Federal Deposit Insurance Corporation (“FDIC”).
  • Our offices are geographically dispersed across the United States, the United Kingdom, Europe, Canada, India,
  • Australia, the United Arab Emirates, and Singapore, and we may not be able to respond quickly to operational or
  • financial problems or promote the desired level of cooperation and interaction among our offices, which could harm

Legal proceedings

From time to time, we may be involved in various legal proceedings and subject to claims that arise in the

ordinary course of business. Although the results of litigation and claims are inherently unpredictable and uncertain, we are

not presently a party to any litigation the outcome of which, we believe, if determined adversely to us, would individually

or taken together have a material adverse effect on our business, operating results, cash flows, or financial condition. For

The opening of Item 3, Legal Proceedings.6

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