Ranked by reported Q2 2025 13F market value
Share of total reported institutional value in CMLS held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | ZAZOVE ASSOCIATES LLC | 1.5M | $676K | 0.0% | 8.764% | 0.06% |
| 2 | XTX Topco Ltd | 70K | $8K | — | 0.400% | 0.00% |
| 3 | VOYA INVESTMENT MANAGEMENT LLC | 66K | $8K | — | 0.381% | 0.00% |
| 4 | Empowered Funds, LLC | 17K | $2K | 0.0% | 0.099% | 0.00% |
| 5 | ACADIAN ASSET MANAGEMENT LLC | 425K | $51 | 0.0% | 2.437% | 0.00% |
| 6 | BARCLAYS PLC | 48K | $6 | 0.0% | 0.272% | 0.00% |
| 7 | SIMPLEX TRADING, LLC | 1K | $0 | -59.4% | 0.007% | 0.00% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). “% of Fund” shows how much of that investor’s total 13F portfolio is invested in CMLS — a direct measure of their conviction.
Filings activity in CMLS during Q2 2025, grouped by how each filer changed its position.
8 quarters of 13F filings · Δ columns show change vs prior quarter
| Quarter | Inst. Holders | Δ Holders | Ownership % | Δ Ownership | Total 13F Value | Δ Value |
|---|---|---|---|---|---|---|
| Q2 2025 | 7 | 79% | 199.99% | +0.00 pp | $1M | 66% |
| Q1 2025 | 33 | +0.0% | 199.99% | +0.00 pp | $2M | 38% |
| Q4 2024 | 33 | 21% | 199.99% | +0.00 pp | $3M | 53% |
| Q3 2024 | 42 | 6.7% | 199.99% | +0.00 pp | $7M | 15% |
| Q2 2024 | 45 | 12% | 199.99% | +0.00 pp | $8M | 46% |
| Q1 2024 | 51 | 18% | 199.99% | +0.00 pp | $15M | 92% |
| Q2 2021 | 62 | 3.1% | 199.99% | +0.00 pp | $187M | +57% |
| Q1 2021 | 64 | — | 199.99% | — | $119M | — |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Δ columns compare to the immediately prior filed quarter.
Quick answers to the most common questions about buying CMLS stock.
Based on Q2 2025 13F filings, institutional ownership of Cumulus Media Inc. stands at 200.0%, held across 7 reporting institutions.
ZAZOVE ASSOCIATES LLC is the largest reported institutional holder of CMLS, with approximately 1,528,428 shares worth $0.00B as of Q2 2025.
No marquee "smart money" managers (Berkshire, Burry, ARK, Tiger Global, Pershing Square, Baupost, etc.) currently appear among the top 25 institutional holders of CMLS.
Our composite Smart Money Score for CMLS is 16 out of 100 (Heavy Distribution). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
2 institutions opened new positions in CMLS during Q2 2025, while 28 fully exited. 0 added to existing positions and 3 trimmed.
CMLS institutional ownership rose by 0.00 percentage points quarter-over-quarter, with a net change of -26 holders.
The top 10 institutions account for 100.0% of all reported 13F value in CMLS, and the top 25 account for 100.0%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.
Cumulus Media Inc. (CMLS) Institutional Ownership