What is the 13F Pro Quality Score for NOTE-WT?

13F Pro ranks FiscalNote Holdings, Inc. (NOTE-WT) 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 NOTE-WT's current score at https://13fpro.ai/research/NOTE-WT (free sign-up required for the full ranking).

Which hedge funds own the most NOTE-WT stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of NOTE-WT include VANGUARD GROUP, Focus Partners Wealth, MORGAN STANLEY. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/NOTE-WT as soon as new 13F filings post.

Where does 13F Pro source NOTE-WT data?

All FiscalNote Holdings, Inc. fundamentals and ownership data come directly from SEC EDGAR. FiscalNote Holdings, Inc. files with the SEC under CIK 1823466. 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 NOTE-WT in?

FiscalNote Holdings, Inc. (NOTE-WT) is classified in the Technology sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/technology.

How often is NOTE-WT research updated on 13F Pro?

NOTE-WT'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.

FiscalNote Holdings, Inc.(NOTE-WT)Stock Analysis

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13F Pro Quality Score

Not in ranked universe

Pending next ranking run

This company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. Rankings refresh on Jan 1, Apr 1, Jul 1, Oct 1.

Financial data, filings, and institutional holdings below are still tracked in full — only the proprietary quality composite is unavailable for this name.

NOTE-WT Stock Analysis & AI Quality Score

AI stock analysis and institutional research for FiscalNote Holdings, Inc. (NOTE-WT), a Technology sector company. NOTE-WT is not currently included in 13F Pro's AI-ranked quality universe — this company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. rankings refresh on jan 1, apr 1, jul 1, oct 1. Based on the latest XBRL financial filings (Q1 2026), FiscalNote Holdings, Inc. reports quarterly revenue of $20.0M, net income of $-43.6M, free cash flow of $1.4M. Top institutional holders of NOTE-WT by reported 13-F value include VANGUARD GROUP, Focus Partners Wealth, MORGAN STANLEY, based on the most recent SEC filings. NOTE-WT trades on the NYSE exchange and files with the SEC under CIK 1823466. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate NOTE-WT 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 FiscalNote Holdings, Inc. directly from SEC EDGAR. FiscalNote Holdings, Inc.'s 13F Pro composite quality score has ranged between 12 and 39 since 2023, currently 11.8 — a declining long-term trajectory across 11 quarterly and live scoring snapshots.

Revenue

Q1 2026

$20.0M

Net Income

Q1 2026

$-43.6M

Free Cash Flow

Q1 2026

$1.4M

ROIC

Q1 2026

-28.7%

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

-20.7% YoY

$95.4MFY 2025

FY22 $113.8MFY23 $132.6MFY24 $120.3MFY25 $95.4M

Net Income

-785.6% YoY

$-65.2MFY 2025

FY22 $-218.3MFY23 $-115.5MFY24 $9.5MFY25 $-65.2M

Operating Income

-55.0% YoY

$-49.5MFY 2025

FY22 $-88.2MFY23 $-97.7MFY24 $-31.9MFY25 $-49.5M

EPS (Diluted)

-660.2% YoY

$-4.65FY 2025

FY22 $-3.68FY23 $-0.88FY24 $0.83FY25 $-4.65

Total Assets

-21.8% YoY

$255.1MFY 2025

FY22 $433.2MFY23 $370.6MFY24 $326.2MFY25 $255.1M

Total Debt

-10.8% YoY

$131.3MFY 2025

FY22 $162.1MFY23 $222.5MFY24 $147.1MFY25 $131.3M

Op. Cash Flow

-116.0% YoY

$-11.4MFY 2025

FY22 $-72.6MFY23 $-35.5MFY24 $-5.3MFY25 $-11.4M

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$95.4M -20.7%	$120.3M -9.3%	$132.6M +16.6%	$113.8M +37.2%	$82.9M	—
Net Income	$-65.2M -785.6%	$9.5M +108.2%	$-115.5M +47.1%	$-218.3M -99.5%	$-109.4M	—
Operating Income	$-49.5M -55.0%	$-31.9M +67.3%	$-97.7M -10.8%	$-88.2M -58.7%	$-55.6M	—
EPS (Diluted)	$-4.65 -660.2%	$0.83 +194.3%	$-0.88 +76.1%	$-3.68 +81.4%	$-19.80	—
Total Assets	$255.1M -21.8%	$326.2M -12.0%	$370.6M -14.5%	$433.2M +14.4%	$378.5M +114.8%	$176.2M
Total Debt	$131.3M -10.8%	$147.1M -33.9%	$222.5M +37.3%	$162.1M -53.0%	$344.7M	—
Operating Cash Flow	$-11.4M -116.0%	$-5.3M +85.1%	$-35.5M +51.1%	$-72.6M -96.0%	$-37.0M	—

AI Insight: NOTE-WT Financial Trends

FiscalNote's revenue collapsed 31% from Q2 2024 to Q1 2026, while operating losses widened and debt nearly doubled, signaling severe distress.

• Revenue declined from $29M (Q2 2024) to $20M (Q1 2026), a 31% contraction over eight quarters.

• Operating losses accelerated sharply: −$8M in Q2 2024 to −$43M in Q1 2026, worsening each of last three quarters.

• Total debt surged from $146M to $235M (+61%) while equity collapsed from $107M to $25M (−77%), drastically raising leverage.

⚠ Net loss widened to −$44M in Q1 2026; cumulative losses Q3 2025–Q1 2026 total −$92M against $66M revenue.

⚠ Equity now only $25M against $235M debt; solvency at critical risk if losses persist or debt matures.

AI Insight: NOTE-WT Ratio Trends

FiscalNote's profitability and capital efficiency have collapsed catastrophically through Q1 2026, with leverage nearly quintupling.

• Operating margin deteriorated from -19.4% in Q4 2024 to -83.7% in Q4 2025, then worsened further in Q1 2026.

• ROIC plunged from -9.4% in Q4 2024 to -65.5% in Q1 2026, reflecting severe capital destruction.

• Debt-to-equity ratio surged from 1.50 in Q4 2024 to 9.47 in Q1 2026, signaling acute financial distress.

⚠ Q1 2026 ROA fell to -81.7% vs. -35.9% in Q4 2025—suggests potential asset write-downs or operational crisis.

⚠ TTM net margin at -119.0% indicates the company is losing far more than revenue; sustainability highly questionable.

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Available Research

13F Pro tracks comprehensive data for FiscalNote Holdings, 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 NOTE-WT

VANGUARD GROUP INC
$606.9K412,864 sh
Focus Partners Wealth
$309.1K66,989 sh
MORGAN STANLEY
$276.3K187,949 sh
Corecam Pte. Ltd.
$209.3K142,398 sh
CITADEL ADVISORS LLC
$203.5K138,448 sh
TWO SIGMA INVESTMENTS, LP
$174.6K118,792 sh
CITADEL ADVISORS LLC
$170.4K115,934 sh
JANE STREET GROUP, LLC
$145.7K99,126 sh
GEODE CAPITAL MANAGEMENT, LLC
$138.7K94,305 sh
NewEdge Advisors, LLC
$123.9K84,261 sh

Fund	Value	Shares
VANGUARD GROUP INC	$606.9K	412,864
Focus Partners Wealth	$309.1K	66,989
MORGAN STANLEY	$276.3K	187,949
Corecam Pte. Ltd.	$209.3K	142,398
CITADEL ADVISORS LLC	$203.5K	138,448
TWO SIGMA INVESTMENTS, LP	$174.6K	118,792
CITADEL ADVISORS LLC	$170.4K	115,934
JANE STREET GROUP, LLC	$145.7K	99,126
GEODE CAPITAL MANAGEMENT, LLC	$138.7K	94,305
NewEdge Advisors, LLC	$123.9K	84,261

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Is NOTE-WT a good stock to buy?

13F Pro's AI-powered analysis of FiscalNote Holdings, Inc. (NOTE-WT) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Technology sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for NOTE-WT are available on the NOTE-WT 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.

Which hedge funds own NOTE-WT?

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 NOTE-WT. 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 FiscalNote Holdings, Inc.'s investment landscape.