February 2026 144 Market Report
Aggregate 144 Market Volume
In February, the total reported value of Form 144s rose 137% from January, driven by a 271% increase in the value of discretionary filings. There was also a 72% rise in the number of filings, likely due to the lifting of pre-earnings trading restrictions. February is typically a busy month for the Form 144 market, and the month-over-month increase in value from January to February in prior years corroborates this (276% and 136% for 2024 and 2023, respectively). When comparing this February to the same time last year, total value, number of shares, and number of filings increased across the board (39%, 58%, and 13%, respectively). These increases in market metrics indicate a return to normal activity after a more muted Form 144 market last year.
Top 5 Brokers for February 2026
This February, Morgan Stanley claimed first place across the board. Bank of America followed close behind, ranking second for value, due in part to their role in brokering February’s largest Form 144. Bank of America also took second for shares brokered and third for number of filings. Fidelity fell to third for value, while maintaining their second position for number of filings brokered. Goldman Sachs and Charles Schwab advanced to fourth and fifth, respectively.
Top Filers for February 2026
| Filer | Company | Broker | Value(M) | Shares(M) |
| BCPE Watson (DE) BML LP | Coherent Corp - [COHR] | Bank of America | $2,223.2 | 9.44 |
| Walton Family Holdings Trust | Walmart - [WMT] | Goldman Sachs | $1,023.6 | 8.00 |
| Awilhelmsen AS | Royal Caribbean Cruises - [RCL] | Oppenheimer | $639.2 | 2.00 |