What is the 13F Pro Quality Score for SST?

13F Pro ranks System1, Inc. (SST) 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 SST's current score at https://13fpro.ai/research/SST (free sign-up required for the full ranking).

Which hedge funds own the most SST stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of SST include Cannae Holdings,, BANK OF AMERICA /DE/, Cerity Partners. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/SST as soon as new 13F filings post.

Where does 13F Pro source SST data?

All System1, Inc. fundamentals and ownership data come directly from SEC EDGAR. System1, Inc. files with the SEC under CIK 1805833. 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 SST in?

System1, Inc. (SST) 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 SST research updated on 13F Pro?

SST'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.

System1, Inc.(SST)Stock Analysis

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13F Pro Quality Score

20.4/100

Rank #2,676 of 2,879 stocks

View Technology peers →

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

Revenue Growth

6.6/100

Profitability

12.9/100

Balance Sheet

9.7/100

Earnings Quality

30.0/100

Free Cash Flow

20.7/100

Institutional Flow

98.6/100

Revenue Scale

27.1/100

Dilution Risk

28.2/100

SST Stock Analysis & AI Quality Score

AI stock analysis and institutional research for System1, Inc. (SST), a Technology sector company. 13F Pro's AI-powered ranking engine scores SST at 20.4/100 on a 32-signal composite quality model, placing it at rank #2,676 of 2,879 stocks — the bottom half of the AI-ranked universe. SST scores in the top quartile across institutional flow (98.6). Areas of concern include revenue growth (6.6) and balance sheet strength (9.7), which score below median versus the broader universe. Shareholder dilution risk is elevated at 28.2/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), System1, Inc. reports quarterly revenue of $37.2M, net income of $-47.1M, free cash flow of $-26.1M. Top institutional holders of SST by reported 13-F value include Cannae Holdings,, BANK OF AMERICA /DE/, Cerity Partners, based on the most recent SEC filings. SST trades on the NYSE exchange and files with the SEC under CIK 1805833. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate SST 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 System1, Inc. directly from SEC EDGAR. System1, Inc.'s 13F Pro composite quality score has ranged between 16 and 33 since 2023, currently 20.4 — a declining long-term trajectory across 19 quarterly and live scoring snapshots.

✦

Fun facts about System1, Inc.

Quirks, history, and lore behind SST — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. digital media and advertising technology company · listed on NYSE · headquartered in Los Angeles, California.
2
The Numbers
Annual revenue in the hundreds of millions of dollars, with a business model built around customer acquisition at massive scale across the open web.
3
The History
Went public via a SPAC merger in the early 2020s, combining several digital advertising and publishing assets under one roof.
4
The Secret
Its core technology is essentially a monetization engine — it matches advertisers with consumers by owning the entire customer acquisition funnel, from the ad click to the conversion.
5
The Lore
Its portfolio includes privacy-focused search assets and consumer-facing media brands, giving it an unusual foothold in both adtech and owned-and-operated publishing.
6
The Giveaway
The parent company behind MapQuest and the Infospace search properties, trading under a ticker that sounds like it belongs to a sci-fi startup.

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Revenue

Q1 2026

$37.2M

Net Income

Q1 2026

$-47.1M

Free Cash Flow

Q1 2026

$-26.1M

ROIC

Q1 2026

-18.0%

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

-14.4% YoY

$343.9MFY 2024

FY21 $688.4MFY22 $612.2MFY23 $402.0MFY24 $343.9M

Net Income

+67.1% YoY

$-74.7MFY 2024

FY21 $33.0MFY22 $-330.4MFY23 $-227.2MFY24 $-74.7M

Operating Income

-3.0% YoY

$-88.6MFY 2024

FY21 $50.8MFY22 $-457.7MFY23 $-86.0MFY24 $-88.6M

EPS (Diluted)

-333.1% YoY

$-10.74FY 2024

FY21 —FY22 $-3.70FY23 $-2.48FY24 $-10.74

Total Assets

-24.2% YoY

$459.1MFY 2024

FY21 $256.9MFY22 $1.16BFY23 $605.5MFY24 $459.1M

Total Debt

-20.0% YoY

$307.9MFY 2024

FY21 $170.5MFY22 $449.5MFY23 $384.8MFY24 $307.9M

Op. Cash Flow

+78.8% YoY

$-5.3MFY 2024

FY21 $60.7MFY22 $3.3MFY23 $-24.7MFY24 $-5.3M

Metric	FY 2024	FY 2023	FY 2022	FY 2021
Revenue	$343.9M -14.4%	$402.0M -34.3%	$612.2M -11.1%	$688.4M
Net Income	$-74.7M +67.1%	$-227.2M +31.2%	$-330.4M -1101.3%	$33.0M
Operating Income	$-88.6M -3.0%	$-86.0M +81.2%	$-457.7M -1000.4%	$50.8M
EPS (Diluted)	$-10.74 -333.1%	$-2.48 +33.0%	$-3.70	—
Total Assets	$459.1M -24.2%	$605.5M -47.8%	$1.16B +351.7%	$256.9M
Total Debt	$307.9M -20.0%	$384.8M -14.4%	$449.5M +163.7%	$170.5M
Operating Cash Flow	$-5.3M +78.8%	$-24.7M -845.9%	$3.3M -94.5%	$60.7M

AI Insight: SST Financial Trends

System1 faces existential cash burn: revenue collapsed 61% from Q2 2024 to Q1 2026 while equity turned deeply negative.

• Revenue plummeted from $95M (Q2 2024) to $37M (Q1 2026), a 61% decline over 8 quarters.

• Operating cash flow deteriorated to -$26M in Q1 2026, worst quarter in dataset; cumulative Q1-Q4 2025 CF was -$5M.

• Stockholders' equity collapsed from $109M to -$15M; company now technically insolvent on book value.

⚠ Total debt rose to $412M in Q4 2025 (spike from $283M), then fell to $375M—suggests restructuring or asset sales underway.

⚠ Net loss accelerated to -$47M in Q1 2026; operating losses have persisted every quarter with no profitability trajectory.

AI Insight: SST Ratio Trends

System1's profitability collapsed in Q1 2026, with operating margin plunging to -137.1% and ROIC deteriorating to -56.7%—a severe reversal after four quarters of gradual improvement.

• Operating margin improved from -30.8% (Q2 2024) to -15.8% (Q4 2024), then deteriorated sharply to -137.1% by Q1 2026.

• Debt-to-equity ratio escalated from 2.70 (Q2 2024) to 13.52 (Q4 2025), signaling aggressive leverage increase despite losses.

• Return on assets fell from -12.3% (Q4 2024) to -58.8% (Q1 2026), the worst quarter on record.

⚠ Q1 2026 operating margin of -137.1% is a structural outlier; clarify if one-time charge or recurring operational failure.

⚠ D/E ratio surged to 13.52 in Q4 2025 after steady climb; monitor liquidity and refinancing risk amid negative returns.

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Available Research

13F Pro tracks comprehensive data for System1, 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 SST

Cannae Holdings, Inc.
$1.1M356,797 sh
BANK OF AMERICA CORP /DE/
$487.8K161,519 sh
Cerity Partners LLC
$352.9K116,844 sh
VANGUARD CAPITAL MANAGEMENT LLC
$112.1K37,132 sh
MILLENNIUM MANAGEMENT LLC
$98.5K32,619 sh
BlackRock, Inc.
$73.2K24,247 sh
GEODE CAPITAL MANAGEMENT, LLC
$72.0K23,839 sh
NINE MASTS CAPITAL Ltd
$56.0K18,548 sh
RENAISSANCE TECHNOLOGIES LLC
$55.3K18,320 sh
STATE STREET CORP
$34.7K11,502 sh

Fund	Value	Shares
Cannae Holdings, Inc.	$1.1M	356,797
BANK OF AMERICA CORP /DE/	$487.8K	161,519
Cerity Partners LLC	$352.9K	116,844
VANGUARD CAPITAL MANAGEMENT LLC	$112.1K	37,132
MILLENNIUM MANAGEMENT LLC	$98.5K	32,619
BlackRock, Inc.	$73.2K	24,247
GEODE CAPITAL MANAGEMENT, LLC	$72.0K	23,839
NINE MASTS CAPITAL Ltd	$56.0K	18,548
RENAISSANCE TECHNOLOGIES LLC	$55.3K	18,320
STATE STREET CORP	$34.7K	11,502

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Is SST a good stock to buy?

13F Pro's AI-powered analysis of System1, Inc. (SST) 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 SST are available on the SST 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 SST?

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 SST. 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 System1, Inc.'s investment landscape.