Tradeweb Markets Inc.
In the published model solve dated 2026-Q2, anchored at $102.25, Tradeweb Markets Inc. (TW) is priced for +13.0% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 11, 2026 from SEC EDGAR filings.
• Tradeweb runs an electronic marketplace for bonds, rates, and derivatives, and its economics are the network kind: Q1 2026 revenue rose 21.2% year over year to a record $617.8 million on record quarterly average daily volume of $3.3 trillion [Source: Q1 2026 earnings release, April 2026], at a 46.5% operating margin. • The chief risk is client concentration on the dealer side, which the 10-K names directly, that consolidation ⟦"has resulted in concentration in markets by some of our largest de
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559 institutional managers reported holding TW in 13F filings for the quarter ended 2026-03-31. Together they hold about 53% of the company; the top 10 hold 27%. 85 opened new positions that quarter. Held by T. Rowe Price, Vanguard Group, Wellington Management, among others. On the short side, 3.1M shares were sold short as of the 2026-06-15 count, about 1% of shares outstanding (1.6 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
TW's share count grew 5.4% over the past five years even with $375.64M spent on repurchases. It pays a dividend, and has paid one every year in our records (7 and counting), raised 3 years straight; the current rate is $0.48 a share annually. Cash returned over the past three years: $255.47M in dividends and $221.71M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at TW over the trailing three years. Absence is a fact about the company, not a signal. 15 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
TW's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-04-28 | +1.0% | -2.7% |
| 2023-07-28 | +10.8% | -3.0% |
| 2023-10-27 | +5.2% | +3.6% |
| 2024-04-26 | -1.1% | +4.1% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
TW's latest 8-K filings: 2026-07-30 (items 2.02, 9.01); 2026-05-20 (items 3.03, 5.03, 5.07); 2026-04-29 (items 2.02, 9.01); 2026-02-05 (items 2.02, 8.01, 9.01); 2026-01-06 (items 1.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 11, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.