PACS at a glance
PACS Group, Inc. (PACS, SEC CIK 2001184) filed its latest 10-K annual report on February 27, 2026, a 10-Q quarterly report on August 4, 2026, an 8-K current report on September 21, 2026 and Form 4 insider filings as recently as October 5, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), PACS Group, Inc. (PACS) reported revenue of $5.3 billion (up 29.4% from FY2024) and net income of $191.5 million. Diluted EPS was $1.22.
- As of June 30, 2026, 31 institutional investment managers tracked by SignalX reported holding PACS Group, Inc. (PACS) shares worth $1.3 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Murray Jason Hulse on October 5, 2026 of 24,224 shares at $42.66 per share.
- In the last 90 days, PACS insiders reported 0 open-market purchases ($0) and 43 open-market sales ($46.0M) on Form 4, a net sale of $46.0M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $5.3B
- +29.4% vs prior year
- Insiders · 90 days
- 0 buys · 43 sells
- Net −$46.0M
- 13F holders
- 31 funds
- $1.3B · −1 vs prior quarter
- Latest 8-K
- Sep 21, 2026
- Item 7.01 · Item 5.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business model: Provider of healthcare services participating in Medicare and Medicaid programs
- New emphasis on compliance risk from intensified government audits including “SNF 5-Claim Probe & Educate Review” nationwide in 2023
- Strategic focus on managing regulatory scrutiny and audit-related reimbursement delays versus prior years
- Employee count or other metrics not disclosed; notable focus on the risk of material refund obligations from audits
- Increase in civil and criminal enforcement actions, leading to potential penalties, exclusion, and admission moratoriums
Risk Factors
- Cybersecurity vulnerability risk with potential violations of security laws and significant liability exposure
- Key-person dependency on Vice President of Technology with 25+ years IT and healthcare operations management experience
- Reliance on third-party cybersecurity firm FIT Solutions with combined 65+ years’ cybersecurity leadership experience
- Cybersecurity risk oversight by Audit Committee with quarterly risk reports and full board briefings
Management Discussion & Analysis
- Total revenue $5.29B, up 29.3% YoY; skilled nursing services revenue $5.18B, up 29.0% ($1.16B increase)
- Operating income $309.6M, up 151.6%; operating margin 5.9% vs 3.0% in 2024 (309.6/5289 vs 123.1/4089)
- Best segment: Mature facilities revenue $2.91B, up 101.9%; Worst segment: Ramping facilities revenue $1.11B, down 27.1%
- Adjusted EBITDA $505.0M vs $279.5M; rent expense $378.9M up 33.0%; no explicit mention of buybacks or dividends; capital expenditures not detailed
- Management committed to remediating material weaknesses in revenue recognition controls; expects continued revenue growth via acquisitions but notes risks from control deficiencies
AI summary of the PACS 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Skilled nursing revenue $1.376B, up from $1.278B YoY
- Revenue growth led by Mature facilities: $912.0M vs $709.4M YoY
- Total skilled mix 50.0% vs 49.4%; occupancy 90.4% vs 88.6% YoY
- Same-store revenue $1.347B, up 5.8%; occupancy 90.6% vs 89.1%
- Four assisted-living facilities and four real-estate purchases added during six months; 20 facilities acquired subsequently
Risk Factors
- No material changes to 10-K risk factors for fiscal year ended December 31, 2025
- No newly added regulatory, legal, compliance, operational, competitive, or financial risks disclosed
- CEO Jason Murray adopted a Rule 10b5-1 arrangement covering up to 2,000,000 shares through May 15, 2027
AI summary of the PACS 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 7.01: Regulation FD Disclosure
- Patrick J. Murphy succeeds Mr. Mitchell as Chief Legal Officer and Secretary effective September 21, 2026
- Leadership transition affects legal oversight, corporate governance, and regulatory execution
Item 5.02: Departure/Appointment of Directors or Principal Officers
- John Mitchell retired as Chief Legal Officer and Secretary effective September 18, 2026
- Up to 12 months of transition consulting services following separation
Item 2.02: Results of Operations and Financial Condition
- Q2 2026 results covered quarter ended June 30, 2026
- Press release issued August 4, 2026 and furnished as Exhibit 99.1
Item 5.07: Submission of Matters to a Vote of Security Holders
- 97.33% shareholder participation, with 152,966,362 shares represented at the Annual Meeting
- Evelyn Dilsaver and Mark Hancock elected Class II directors through the 2029 Annual Meeting
AI summaries of PACS 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for PACS
Don't miss the next PACS filing
- Alerts as it files. A push when PACS files an 8-K or an insider trades.
- Fund moves. Which tracked funds opened, added or cut PACS, by share count.
- Ask anything. An AI agent that reads every PACS filing and answers with sources.
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Murray Jason Hulse | Sell | Oct 5, 2026 | 24,224 | $42.66 |
| Murray Jason Hulse | Sell | Oct 2, 2026 | 2,596 | $41.79 |
| Murray Jason Hulse | Sell | Oct 2, 2026 | 23,456 | $42.59 |
| Murray Jason Hulse | Sell | Oct 1, 2026 | 33,032 | $41.13 |
| Jergensen Joshua | Sell | Sep 16, 2026 | 3,498 | $43.62 |
| Jergensen Joshua | Sell | Sep 16, 2026 | 36,502 | $43.08 |
| Hancock Mark | Sell | Sep 15, 2026 | 104,132 | $42.09 |
| Hancock Mark | Sell | Sep 15, 2026 | 30,466 | $42.89 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | $3.1B | $4.1B | $5.3B |
| Operating Income | $207.8M | $123.1M | $309.6M |
| Net Income | $112.9M | $55.8M | $191.5M |
| Op. Margin | 6.7% | 3.0% | 5.9% |
| Net Margin | 3.6% | 1.4% | 3.6% |
| Balance Sheet | |||
| Total Assets | $3.5B | $5.2B | $5.6B |
| Equity | - | $709.6M | $946.8M |
| ROE | - | 7.9% | 20.2% |
| Per Share | |||
| EPS | $0.88 | $0.38 | $1.22 |
| Cash Flow | |||
| Operating CF | $63.7M | $367.3M | $404.2M |
Source: XBRL data in PACS Group, Inc. (PACS)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate PACS share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 31 | $1.30B |
| Q1 2026 | 32 | $926.6M |
| Q4 2025 | 28 | $1.10B |
| Q3 2025 | 27 | $396.7M |
| Q2 2025 | 26 | $354.5M |
| Q1 2025 | 21 | $244.5M |
| Q4 2024 | 17 | $253.1M |
| Q3 2024 | 15 | $564.0M |
- FMR LLC (Fidelity)+959.5K (+18%)
- Ameriprise Financial+873.7K (+78%)
- Dimensional Fund Advisors+450.6K (+58%)
- BlackRock+380.1K (+10%)
- Franklin Resources+249.7K (+865%)
- COHEN & STEERS, INC.−779.8K (-9%)
- Citadel Advisors LLC−470.6K (-77%)
- Millennium Management−311.1K (-81%)
- Prudential Financial−129.8K (-62%)
- Two Sigma Investments−94.2K (-36%)
- Blackstone Group−11.5K
Source: 13F-HR filings on SEC EDGAR (aggregated from 197 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
PACS filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Oct 5, 2026 | - | - | - |
| 8-K | Sep 21, 2026 | - | Analysis | - |
| 4 | Sep 17, 2026 | - | - | - |
| 4 | Sep 15, 2026 | - | - | - |
| 4 | Sep 14, 2026 | - | - | - |
| 4 | Sep 9, 2026 | - | - | - |
| 4 | Sep 3, 2026 | - | - | - |
| 4 | Aug 27, 2026 | - | - | - |
| 4 | Aug 27, 2026 | - | - | - |
| 4 | Aug 24, 2026 | - | - | - |
| 4 | Aug 19, 2026 | - | - | - |
| 4 | Aug 14, 2026 | - | - | - |
| 10-Q | Aug 4, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Aug 4, 2026 | - | Analysis | - |
| 4 | Jul 16, 2026 | - | - | - |
| 4 | Jul 16, 2026 | - | - | - |
| 4 | Jul 10, 2026 | - | - | - |
| 4 | Jul 6, 2026 | - | - | - |
| 4 | Jul 6, 2026 | - | - | - |
| 4 | Jul 6, 2026 | - | - | - |
| 4 | Jul 6, 2026 | - | - | - |
| 4 | Jul 6, 2026 | - | - | - |
| 4 | Jul 6, 2026 | - | - | - |
| 4 | Jun 26, 2026 | - | - | - |
| 4 | Jun 26, 2026 | - | - | - |
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PACS SEC filings: frequently asked questions
Are PACS insiders buying or selling?
In the last 90 days, PACS Group, Inc. (PACS) officers, directors and 10% owners reported no open-market purchases and 43 open-market sales worth $46.0 million by 4 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold PACS stock?
As of June 30, 2026, the largest PACS Group, Inc. (PACS) holders among the 13F filers tracked by SignalX were COHEN & STEERS, INC. ($355.8 million), FMR LLC (Fidelity) ($264.7 million), BlackRock ($177.2 million), Ameriprise Financial ($85.1 million), Vanguard Portfolio Management LLC ($84.5 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was PACS's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), PACS Group, Inc. (PACS) reported revenue of $5.3 billion (up 29.4% from FY2024) and net income of $191.5 million. Diluted EPS was $1.22. The figures come from the XBRL data in the 10-K.
What are the main risks in PACS's latest 10-K?
In the 10-K filed February 27, 2026, PACS Group, Inc. (PACS) flagged: Cybersecurity vulnerability risk with potential violations of security laws and significant liability exposure. Key-person dependency on Vice President of Technology with 25+ years IT and healthcare operations management experience. (AI summary of the Risk Factors section.)
What did PACS report in its latest 8-K?
PACS Group, Inc. (PACS) filed an 8-K on September 21, 2026 reporting Item 7.01 (Regulation FD Disclosure) and Item 5.02 (Departure/Appointment of Directors or Principal Officers). Patrick J. Murphy succeeds Mr. Mitchell as Chief Legal Officer and Secretary effective September 21, 2026.
What are the latest PACS SEC filings?
PACS Group, Inc. (PACS) filed its latest 10-K annual report on February 27, 2026, a 10-Q quarterly report on August 4, 2026, an 8-K current report on September 21, 2026 and a Form 4 insider filing on October 5, 2026.
What is PACS's SEC CIK number?
PACS Group, Inc. (PACS)'s SEC Central Index Key (CIK) is 2001184. EDGAR lists every PACS filing under that number.
Ask anything about PACS
The research agent reads PACS's filings, financials, insider trades and 13F holders, then answers with sources.