What is the 13F Pro Quality Score for CRCL?

13F Pro ranks Circle Internet Group, Inc. (CRCL) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View CRCL's current score at https://13fpro.ai/company/CRCL (free sign-up required for the full ranking).

Where does 13F Pro source CRCL data?

All Circle Internet Group, Inc. fundamentals and ownership data come directly from SEC EDGAR. Circle Internet Group, Inc. files with the SEC under CIK 1876042. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is CRCL in?

Circle Internet Group, Inc. (CRCL) is classified in the Financials sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/financials.

What drives CRCL's revenue?

Per Circle Internet Group, Inc.'s latest 10-Q filed with the SEC on 2026-08-05, the biggest revenue drivers are: Reserve income ($667.7M, +5.3% YoY); Other revenue ($33.6M, +41.1% YoY); Subscription and services ($28.2M). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/company/CRCL.

What are CRCL's largest expenses?

Circle Internet Group, Inc.'s latest 10-Q reports these as the largest expense items: Distribution and transaction costs ($410.4M, +1.0% YoY); Compensation expenses ($134.0M, -73.4% YoY); General and administrative expenses ($66.3M, +53.6% YoY). Sourced directly from SEC EDGAR filing text for Q2 FY2026 (quarter ended June 30, 2026).

How often is CRCL research updated on 13F Pro?

CRCL's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Circle Internet Group, Inc.(CRCL)Stock Analysis

AI analysis on 2,800+ stocks →Deep AI analysis on 2,800+ stocks →

Financials →NYSElarge

Institutional-grade research for retail investors

SEC EDGAR: CIK 1876042 CRCL stock profile & AI dashboard →

13F Pro Quality Score

67.5/100

Rank #357 of 2,961 stocksTOP 25%

View Financials peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.

Revenue Growth

75.9/100

Profitability

79.8/100

Balance Sheet

38.5/100

Earnings Quality

73.4/100

Free Cash Flow

80.0/100

Institutional Flow

86.3/100

Revenue Scale

69.1/100

Dilution Risk

8.7/100

Email me the moment this company reports earnings

AI Research Report

Two-page plain-English analysis: business, thesis, and three scenarios for the next two years. Refreshed every quarter.

Upgrade to Pro

Pro: 5 reports/month · Pro+: unlimitedOpinion, not investment advice. Do your own research.

Why CRCL Scores 68/100

exact factor attribution · 2026-09-11

CRCL's composite is driven by revenue growth and profitability, held back by shareholder dilution and capital efficiency. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Revenue growth

+6.9 pts

76th pct

Profitability

+6.0 pts

80th pct

Free cash flow

+4.5 pts

80th pct

Scale

+3.8 pts

69th pct

Earnings growth

+2.6 pts

90th pct

Institutional flow

+2.4 pts

86th pct

Earnings quality

+2.3 pts

73th pct

Capital efficiency

-1.5 pts

39th pct

Shareholder dilution

-2.8 pts

9th pct

Latest change (2026-08-05): 45 → 62 · ↑ Profit margin 30→98; ↑ Earnings growth 10→91; despite ↓ Revenue scale 30→21

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

Unusual Activity in CRCL

Events flagged as statistical outliers against CRCL's own multi-year baseline — not fixed dollar thresholds.

Score shock2026-08-05
CRCL quality score jumped 17 points (45→62) on a new filing
View source filing →

CRCL Stock Analysis & AI Quality Score

Data updated 2026-09-11

AI stock analysis and institutional research for Circle Internet Group, Inc. (CRCL), a Financials sector company. 13F Pro's AI-powered ranking engine scores CRCL at 67.5/100 on a 32-signal composite quality model, placing it at rank #357 of 2,961 stocks — the top 25% of the AI-ranked universe. CRCL scores in the top quartile across institutional flow (86.3), free cash flow (80.0), profitability (79.8). Areas of concern include balance sheet strength (38.5), which score below median versus the broader universe. Shareholder dilution risk is elevated at 8.7/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), Circle Internet Group, Inc. reports quarterly revenue of $701.3M, net income of $48.2M, free cash flow of $516.4M. Top institutional holders of CRCL by reported 13-F value include IDG China Capital Fund III Associates L.P., BlackRock, MORGAN STANLEY, based on the most recent SEC filings. CRCL trades on the NYSE exchange and files with the SEC under CIK 1876042. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate CRCL daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Circle Internet Group, Inc. directly from SEC EDGAR. Circle Internet Group, Inc.'s 13F Pro composite quality score has ranged between 33 and 68 since 2026, currently 67.5 — an improving long-term trajectory across 37 quarterly and live scoring snapshots.

What's Driving CRCL's Business? Latest 10-Q Breakdown

✓ 32/32 datapoints verified

AI-extracted from Circle Internet Group, Inc.'s 10-Q filed 2026-08-05 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Circle's Q2 2026 revenue and reserve income rose 7% YoY to $701M as reserve income growth from higher USDC circulation offset a 66bp decline in yields, while net income swung to $48M from a $482M loss a year ago.

Biggest Revenue Drivers

Reserve income$667.7M+5.3% YoY

25.2% increase in average daily USDC in circulation, partly offset by a 66bp decline in average yields from Fed rate actions

Other revenue$33.6M+41.1% YoY

Driven by additional integration services performed and higher fund management and redemption fees

Biggest Revenue Drivers

Total revenue: $701.3M+7% YoY

Reserve income$667.7M+5.3% YoY

25.2% increase in average daily USDC in circulation, partly offset by a 66bp decline in average yields from Fed rate actions

Other revenue$33.6M+41.1% YoY

Driven by additional integration services performed and higher fund management and redemption fees

Within Other revenue

Subscription and services$28.2M

Transaction revenue$5.3M

Largest Expense Items

Distribution and transaction costs$410.4M+1.0% YoY

Increased activity with new and existing strategic distribution partnerships, partly offset by a lower Coinbase share of on-platform USDC

Compensation expenses$134.0M-73.4% YoY

Prior-year quarter included $423.8M of IPO-triggered RSU vesting expense; excluding that, comp rose on higher headcount and stock-based compensation

General and administrative expenses$66.3M+53.6% YoY

Higher legal, professional and consulting fees, travel/event costs, and contributions and donations

Depreciation and amortization$29.9M+110.4% YoY

Higher amortization of internally developed software and acquired intangible assets

Margins: RLDC margin (revenue less distribution costs) improved to 41% from 38% a year ago; Adjusted EBITDA grew 14% YoY to $143M, though Adjusted EBITDA margin held flat at 50% as the drag from a one-time prior-year IPO-related comp charge lapped out but new costs (G&A, D&A) rose.

Watch Items from the Filing

Reserve income remains 95.2% of total revenue, leaving Circle highly exposed to Fed rate cuts; a modeled -200bps rate move would cut reserve income by $1.475B annually.
Distribution costs paid to Coinbase were $324.6M for the quarter (about 46% of total distribution costs) under the Collaboration Agreement, a significant single-partner cost concentration.
USDC in circulation fell to $73.3B at quarter-end from $75.1B (YTD reserve balance), a $2.0B sequential decline, even as average USDC in circulation grew YoY.
Company launched an ARC Token presale in Q2 2026, raising ~$242.2M (deferred revenue) including $25.0M from IDG Capital, a >5% beneficial stockholder — a related-party transaction to monitor.
Ongoing litigation with a financial advisor demanding fees on IPO and follow-on offering proceeds; Circle disputes the claim and says the potential loss is not reasonably estimable.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q2 2026

$701.3M

Net Income

Q2 2026

$48.2M

Free Cash Flow

Q2 2026

$516.4M

ROIC

Q2 2026

3.9%

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

+63.9% YoY

$2.75BFY 2025

FY22 —FY23 $1.45BFY24 $1.68BFY25 $2.75B

Net Income

-144.7% YoY

$-69.5MFY 2025

FY22 —FY23 $267.6MFY24 $155.7MFY25 $-69.5M

Operating Income

-157.7% YoY

$-96.4MFY 2025

FY22 —FY23 $269.5MFY24 $167.2MFY25 $-96.4M

EPS (Diluted)

-246.7% YoY

$-0.44FY 2025

FY22 —FY23 $0.78FY24 $0.30FY25 $-0.44

Total Assets

+71.7% YoY

$78.71BFY 2025

FY22 —FY23 —FY24 $45.83BFY25 $78.71B

Op. Cash Flow

+57.3% YoY

$542.1MFY 2025

FY22 —FY23 $139.6MFY24 $344.6MFY25 $542.1M

Free Cash Flow

+62.3% YoY

$529.7MFY 2025

FY22 —FY23 $138.9MFY24 $326.4MFY25 $529.7M

Metric	FY 2025	FY 2024	FY 2023	FY 2022
Revenue	$2.75B +63.9%	$1.68B +15.6%	$1.45B	—
Net Income	$-69.5M -144.7%	$155.7M -41.8%	$267.6M	—
Operating Income	$-96.4M -157.7%	$167.2M -38.0%	$269.5M	—
EPS (Diluted)	$-0.44 -246.7%	$0.30 -61.5%	$0.78	—
Total Assets	$78.71B +71.7%	$45.83B	—	—
Operating Cash Flow	$542.1M +57.3%	$344.6M +146.9%	$139.6M	—
Free Cash Flow	$529.7M +62.3%	$326.4M +135.0%	$138.9M	—

Get alerted when CRCL's score changes

Free account: watchlist tracking, the daily AI brief, and the AI screener.

Passwordless sign-in · Payments by Stripe · Auth by Clerk

Available Research

13F Pro tracks comprehensive data for Circle Internet Group, Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of CRCL

IDG China Capital Fund III Associates L.P.
$557.5M8,902,014 sh
BlackRock, Inc.
$523.9M8,365,299 sh
MORGAN STANLEY
$520.8M8,315,961 sh
IDG-Accel China Capital II Associates L.P.
$436.8M6,974,093 sh
SUSQUEHANNA INTERNATIONAL GROUP, LLP
$409.1M6,532,000 sh
SUSQUEHANNA INTERNATIONAL GROUP, LLP
$400.5M6,394,500 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$368.2M5,878,678 sh
JANE STREET GROUP, LLC
$354.4M5,659,200 sh
VANGUARD CAPITAL MANAGEMENT LLC
$310.6M4,959,806 sh
ARK Investment Management LLC
$285.5M4,558,162 sh

Fund	Value	Shares
IDG China Capital Fund III Associates L.P.	$557.5M	8,902,014
BlackRock, Inc.	$523.9M	8,365,299
MORGAN STANLEY	$520.8M	8,315,961
IDG-Accel China Capital II Associates L.P.	$436.8M	6,974,093
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$409.1M	6,532,000
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$400.5M	6,394,500
VANGUARD PORTFOLIO MANAGEMENT LLC	$368.2M	5,878,678
JANE STREET GROUP, LLC	$354.4M	5,659,200
VANGUARD CAPITAL MANAGEMENT LLC	$310.6M	4,959,806
ARK Investment Management LLC	$285.5M	4,558,162

Companies Similar to CRCL

Ranked by quality-profile closeness and shared hedge-fund ownership — not just sector membership.

EBC

Eastern Bankshares, Inc.

AI score

Similar quality profile · 3 shared holders

FRONTIER CAPITAL MANAGEMENT CO LLC WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC Nikko Asset Management Americas, Inc.

WTFC

WINTRUST FINANCIAL CORP

AI score

Similar quality profile · 5 shared holders

FRONTIER CAPITAL MANAGEMENT CO LLC Oak Thistle LLC AXQ CAPITAL, LP

NNI

NELNET INC

AI score

Similar quality profile

VIRT

Virtu Financial, Inc.

AI score

Similar quality profile · 6 shared holders

Artisan Partners Limited Partnership MACQUARIE GROUP LTD Oak Thistle LLC

IBKR

Interactive Brokers Group, Inc.

AI score

Similar quality profile · 11 shared holders

KEYSTONE INVESTORS PTE LTD Robeco Institutional Asset Management B.V.AVIVA PLC

CBSH

COMMERCE BANCSHARES INC /MO/

AI score

Similar quality profile · 4 shared holders

VOLORIDGE INVESTMENT MANAGEMENT, LLC Midwest Trust Co STATE TREASURER STATE OF MICHIGAN

HBAN

HUNTINGTON BANCSHARES INC /MD/

AI score

Similar quality profile · 16 shared holders

AVIVA PLC Harvest Portfolios Group Inc.Korea Investment CORP

GBCI

GLACIER BANCORP, INC.

AI score

Similar quality profile · 1 shared holders

STATE TREASURER STATE OF MICHIGAN

Similarity is computed from the 8 composite sub-scores and latest-quarter 13F conviction holdings (index-style filers excluded). Refreshed monthly.

More Financials Companies

View all Financials →

AAAU

Goldman Sachs Physical Gold ETF

AAC

Ares Acquisition Corp III

AACB

Artius II Acquisition Inc.

AACI

Armada Acquisition Corp. III

AACO

Abony Acquisition Corp. I

AACP

Apogee Acquisition Corp

AAME

ATLANTIC AMERICAN CORP

AAMI

Acadian Asset Management Inc.

Put CRCL on your watchlist

Track score changes the day Circle Internet Group, Inc. files with the SEC, follow the hedge funds that own it, screen 2,800+ AI-scored stocks, and get the daily brief — free.

View Pricing

Free tier includes 13F data, economic indicators, and market overview. Pro starts at $6.67/mo (billed annually).

Passwordless sign-in · Payments by Stripe · Auth by Clerk

Popular Research

AAPL

Apple

MSFT

Microsoft

NVDA

NVIDIA

GOOG

Alphabet

AMZN

Amazon

Is CRCL a good stock to buy?

13F Pro's AI-powered analysis of Circle Internet Group, Inc. (CRCL) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Financials sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for CRCL are available on the CRCL stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing. CRCL is classified as a large company.

Which hedge funds own CRCL?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling CRCL. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Circle Internet Group, Inc.'s investment landscape.