MLCI on Nasdaq
Mount Logan Capital Inc.
American investment advice company, incorporated in Delaware. Summary from the record
Price unavailable
Last updated Oct 19, 2026.
Overview
Compare with Horizon Kinetics Holding Corp, HENNESSY ADVISORS INC or Value Line, or pick any stock.
- 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
See how the biggest companies compare on our leaderboards
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
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.
Business segments by year
| Business segments | 2024 | 2025 |
|---|---|---|
| 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
Every line of the income statement as filed: the last 2 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| 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 shares | 6.1M shares |
| Weighted average shares outstanding Diluted (in shares) | 8.6M shares | 6.1M shares |
| Remeasurement gain on policy liabilities | $9.9M | $16.2M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Investments | $1.1B | $1.1B | |
| Reinsurance recoverable | $272.9M | $259.5M | |
| Deferred acquisition costs | $6.8M | $6.5M | $6.3M |
| Goodwill | $30.2M | $55.7M | |
| Other assets | $26.4M | $47.4M | |
| Assets | $1.6B | $1.6B | |
| Future policy benefits | $781.9M | $769.5M | |
| Accrued expenses and other liabilities | $20.0M | $8.7M | |
| Liabilities | $1.5B | $1.5B | |
| Common shares | $13.0K | $6.0K | |
| Warrants | $1.4M | $1.4M | |
| Additional paid-in-capital | $177.1M | $123.9M | |
| Retained earnings (accumulated deficit) | -$120.7M | -$58.3M | |
| Accumulated other comprehensive income (loss) | $33.2M | $37.0M | |
| Total equity | $91.0M | $104.1M | $105.3M |
| Total liabilities and equity | $1.6B | $1.6B | |
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 150.0M shares | 150.0M shares | |
| Common stock, shares issued (in shares) | 12.8M shares | 6.1M shares | |
| Common stock, shares outstanding (in shares) | 12.8M shares | 6.1M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Investments | $1.1B | $1.1B | |
| Reinsurance recoverable | $272.9M | $259.5M | |
| Deferred acquisition costs | $6.8M | $6.5M | $6.3M |
| Goodwill | $30.2M | $55.7M | |
| Other assets | $26.4M | $47.4M | |
| Assets | $1.6B | $1.6B | |
| Future policy benefits | $781.9M | $769.5M | |
| Accrued expenses and other liabilities | $20.0M | $8.7M | |
| Liabilities | $1.5B | $1.5B | |
| Common shares | $13.0K | $6.0K | |
| Warrants | $1.4M | $1.4M | |
| Additional paid-in-capital | $177.1M | $123.9M | |
| Retained earnings (accumulated deficit) | -$120.7M | -$58.3M | |
| Accumulated other comprehensive income (loss) | $33.2M | $37.0M | |
| Total equity | $91.0M | $104.1M | $105.3M |
| Total liabilities and equity | $1.6B | $1.6B | |
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 150.0M shares | 150.0M shares | |
| Common stock, shares issued (in shares) | 12.8M shares | 6.1M shares | |
| Common stock, shares outstanding (in shares) | 12.8M shares | 6.1M shares |
Every line of the cash flow as filed: the last 2 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net income (loss) | -$60.8M | -$10.4M |
| Net realized (gains) losses on investments | $3.4M | -$226.0K |
| Net realized (gains) losses on foreign currency | $5.0K | $5.0K |
| Net change in unrealized (gains) losses on investments | -$11.8M | $8.4M |
| Net change in unrealized (gains) losses on foreign currency | -$37.0K | $62.0K |
| Change in fair value of debt obligation | -$1.3M | $296.0K |
| Payment in-kind interest | -$5.4M | -$2.7M |
| Equity investment earnings | -$1.0M | -$680.0K |
| Amortization of debt issuance costs | $504.0K | $359.0K |
| Amortization of deferred acquisition costs | $3.1M | $2.2M |
| Amortization of intangible assets | $3.6M | $1.7M |
| Impairment of intangible assets | $11.4M | $1.8M |
| Net amortization of premiums and accretion of discounts on investments | -$287.0K | -$625.0K |
| Equity based compensation | $2.0M | $468.0K |
| Increase (decrease) in estimated credit losses | $3.9M | $4.2M |
| Gain on reverse acquisition of business | -$4.5M | $0 |
| Goodwill Impairment | $25.5M | $0 |
| Reinsurance recoverable | $5.8M | $16.7M |
| Change in deferred acquisition costs | -$3.4M | -$2.4M |
| Distributions from equity method investments | $1.3M | $1.9M |
| Purchases of investments by consolidated VIEs | -$92.1M | -$118.1M |
| Proceeds from sale of investments by consolidated VIEs | $96.3M | $115.9M |
| Due to related parties | $1.4M | -$1.6M |
| Future policy benefits | -$21.0M | -$34.7M |
| Interest sensitive contract liabilities | $16.1M | $15.0M |
| Funds held under reinsurance contracts | -$2.8M | $1.7M |
| Accrued expenses and other liabilities | $4.2M | -$25.1M |
| Net cash used in operating activities | -$22.2M | -$37.8M |
| Purchases of investments | -$303.8M | -$317.3M |
| Proceeds received from reverse acquisition of business | $36.8M | $0 |
| Proceeds from sales and repayments of investments | $317.9M | $290.8M |
| Net cash provided by (used in) investing activities | $50.9M | -$26.5M |
| Shareholder dividends | -$1.6M | -$1.5M |
| Repurchase of common shares | -$1.4M | $0 |
| Proceeds from borrowings of asset management business | $2.5M | $31.6M |
| Repayments of borrowings of asset management business | -$2.1M | -$17.4M |
| Financing costs paid and deferred | $0 | -$270.0K |
| Proceeds from borrowings of insurance business | $3.0M | $0 |
| Deposits on investment-type policies and contracts | $43.0M | $72.8M |
| Withdrawals on investment-type policies and contracts | -$30.0M | -$9.5M |
| Net cash provided by (used in) financing activities | $13.3M | $75.7M |
| Interest received | $79.4M | $90.9M |
| Interest paid | $6.8M | $4.8M |
| Dividends received | $1.4M | $1.9M |
| Income taxes paid | $307.0K | $828.0K |
| Cashless repayment on borrowings | $0 | $13.6M |
| Restricted stock release (in shares) | 2.5M shares | 511.0K shares |
| Issuance of common shares for investment purchases (in shares) | 52.7M shares | 0 shares |
| Issuance of common shares for share based compensation | 45.0K shares | 0 shares |
| Dividends paid (per share) | $210.00 | $0.24 |
No quarter-by-quarter statement was filed.
Leadership
Who has led Mount Logan Capital Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
- Chief executive officerEdward J. Goldthorpe Sep 22, 2025 to now7
- Chief financial officerBrandon Satoren Apr 1, 2026 to now8
- Chief financial officerNikita Klassen Sep 22, 2025 to Apr 1, 20269
- Chief operating officerJordan Mangum Apr 20, 2026 to now10
Board members and other officers (8)
- Chief Compliance OfficerDavid Held Sep 22, 2025 to now11
- Board memberBuckley T. Ratchford Sep 22, 2025 to now12
- Board memberEdward J. Goldthorpe Sep 22, 2025 to now7
- Board memberMatthew Joseph Westwood Sep 22, 2025 to now13
- Board memberParker Anders Weil Sep 22, 2025 to now14
- Board memberYuan Yi Sabrina Liak Sep 22, 2025 to now15
- Board memberDavid Brian Allen Sep 30, 2025 to now16
- Board memberRudolph R. Reinfrank Oct 16, 2025 to now17
Former names
- Yukon New Parent, Inc.Jan 17, 2025 to Sep 12, 20252
Timeline
- Sep 22, 2025New chief executive Edward J. Goldthorpe becomes CEO7
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:
- Oct 15, 20268-K EDGAR
- Sep 3, 20264 EDGAR
- Aug 25, 20264/A EDGAR
- Aug 25, 20264/A EDGAR
- Aug 25, 20264/A EDGAR
- Aug 25, 20264/A EDGAR
- Aug 25, 20264/A EDGAR
- Aug 25, 20264/A EDGAR
- Aug 20, 20264 EDGAR
- Aug 20, 20264 EDGAR
- Aug 18, 20264 EDGAR
- Aug 11, 20268-K EDGAR
- Aug 11, 202610-Q EDGAR
- Jun 26, 20268-K EDGAR
- Jun 23, 20264 EDGAR
- Jun 23, 20264 EDGAR
- Jun 23, 20264 EDGAR
- Jun 23, 20264 EDGAR
- Jun 23, 20264 EDGAR
- 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.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 2, 2026 | Satoren BrandonChief Financial Officer | Buy | 1,000 | $3.24 | $3.2K | Form 4 |
| Aug 20, 2026 | Satoren BrandonChief Financial Officer | Buy | 500 | $3.20 | $1.6K | Form 4 |
| Aug 19, 2026 | Held DavidChief Compliance Officer | Buy | 946 | $3.39 | $3.2K | Form 4 |
| Aug 18, 2026 | Satoren BrandonChief Financial Officer | Buy | 1,000 | $3.02 | $3.0K | Form 4 |
| Aug 17, 2026 | Satoren BrandonChief Financial Officer | Buy | 1,000 | $3.13 | $3.1K | Form 4 |
| Jun 22, 2026 | Goldthorpe Edward J.Chief Executive Officer | Buy | 7,970 | $2.77 | $22.1K | Form 4 |
| May 26, 2026 | Mangum JordanChief Operating Officer | Buy | 2,115 | $3.43 | $7.3K | Form 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.
- VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 30, 202618
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.
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11SEC EDGARDavid Held, Chief Compliance Officer
- 12SEC EDGARBuckley T. Ratchford, Board member
- 13
- 14SEC EDGARParker Anders Weil, Board member
- 15SEC EDGARYuan Yi Sabrina Liak, Board member
- 16SEC EDGARDavid Brian Allen, Board member
- 17SEC EDGARRudolph R. Reinfrank, Board member
- 18