Vanguard Group Inc ownership in TCX / Tucows Inc.

圖考斯公司

US ˙ NasdaqCM ˙ US8986972060

Security	TCX / Tucows Inc.
Institution	Vanguard Group Inc
Latest Disclosed Ownership	491,042 shares
Ownership	4.46%

2025-01-31 - Vanguard Group Inc has filed an SCHEDULE 13G/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 491,042 shares of Tucows Inc. (US:TCX). This represents 4.46 percent ownership of the company. In their previous filing dated 2024-02-13 , Vanguard Group Inc had reported owning 694,231 shares, indicating a decrease of -29.27 percent.

Institutional Ownership: 13D/G Filings

This table shows a history of the 13D/G filings made by the investor and/or investor group. Note that the share values in this table are not directly comparable to any numbers shown in the 13F table (if any).

File Date	Effective Date	Form	Prev Shares	Latest Shares	ΔShares (Percent)	Ownership (Percent)	ΔOwnership (Percent)
2025-01-31	2025-01-31	13G/A	694,231	491,042	-29.27	4.46	-29.98
2024-02-13	2024-02-13	13G/A	615,568	694,231	12.78	6.37	11.75
2023-02-09	2023-02-09	13G		615,568		5.70

Important Note: One of the primary uses of the 13D/G filings is to evaluate the ability of a firm to control a company (ie, the "beneficial ownership"). To that end, firms are required to report not just direct holdings in companies, but indirect holdings that they control. For investment firms, these indirect holdings can include shares in funds they manage, advisory accounts, and in the case of activist campaigns, pledged votes. Therefore, share counts listed in 13D/G filings can differ significantly than share counts listed in 13F filings.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)

File Date	Effective Date	Form	Security	Class	ID	Reported Shares	ΔShares	ΔShares (%)	Reported Value (x1000)	ΔValue (%)	Alloc (%)
2026-01-29	2025-12-31	13F	TUCOWS	COM NEW	898697206	464,026	-17,436	-3.62	10,403	16.46	0.0002
2025-11-07	2025-09-30	13F	TUCOWS	COM NEW	898697206	481,462	12,392	2.64	8,934	-3.37	0.0001
2025-08-11	2025-06-30	13F	TUCOWS	COM NEW	898697206	469,070	-17,301	-3.56	9,245	12.62	0.0001
2025-05-09	2025-03-31	13F	TUCOWS	COM NEW	898697206	486,371	-4,671	-0.95	8,210	-2.46	0.0001
2025-02-11	2024-12-31	13F	TUCOWS	COM NEW	898697206	491,042	-218,127	-30.76	8,416	-43.19	0.0001
2024-11-13	2024-09-30	13F	TUCOWS	COM NEW	898697206	709,169	7,962	1.14	14,815	9.35	0.0003
2024-08-13	2024-06-30	13F	TUCOWS	COM NEW	898697206	701,207	2,742	0.39	13,547	4.51	0.0003
2024-05-10	2024-03-31	13F	TUCOWS	COM NEW	898697206	698,465	4,234	0.61	12,964	-30.84	0.0003
2024-03-11	2023-12-31	13F/A-1	TUCOWS	COM NEW	898697206	694,231	14,014	2.06	18,744	35.01	0.0004
2024-02-14	2023-12-31	13F	TUCOWS	COM NEW	898697206	694,231	14,014		18,744		0.0004
2023-12-18	2023-09-30	13F/A-1	TUCOWS	COM NEW	898697206	680,217	-1,498	-0.22	13,883	-26.58	0.0003
2023-11-14	2023-09-30	13F	TUCOWS	COM NEW	898697206	680,217	-1,498		13,883		0.0001
2023-08-14	2023-06-30	13F	TUCOWS	COM NEW	898697206	681,715	97,144	16.62	18,911	66.33	0.0004
2023-07-14	2023-03-31	13F/A-1	TUCOWS	COM NEW	898697206	584,571	-30,997	-5.04	11,370	-45.55	0.0003
2023-05-15	2023-03-31	13F	TUCOWS	COM NEW	898697206	584,571	-30,997		11,370		0.0003
2023-02-10	2022-12-31	13F	TUCOWS	COM NEW	898697206	615,568	24,118	4.08	20,880	-5.63	0.0006
2022-11-14	2022-09-30	13F	TUCOWS	COM NEW	898697206	591,450	84,384	16.64	22,126	-1.97	0.0007
2022-08-12	2022-06-30	13F	TUCOWS	COM NEW	898697206	507,066	-7,016	-1.36	22,570	-35.72	0.0006
2022-05-13	2022-03-31	13F	TUCOWS	COM NEW	898697206	514,082	3,640	0.71	35,112	-17.93	0.0008
2022-02-14	2021-12-31	13F	TUCOWS	COM NEW	898697206	510,442	-5,850	-1.13	42,784	4.96	0.0010
2021-11-12	2021-09-30	13F	TUCOWS	COM NEW	898697206	516,292	680	0.13	40,761	-1.58	0.0010
2021-08-13	2021-06-30	13F	TUCOWS	COM NEW	898697206	515,612	-12,985	-2.46	41,414	1.09	0.0010
2021-05-14	2021-03-31	13F	TUCOWS	COM NEW	898697206	528,597	11,466	2.22	40,967	7.21	0.0011
2021-02-12	2020-12-31	13F	TUCOWS	COM NEW	898697206	517,131	21,836	4.41	38,211	11.97	0.0011
2020-11-16	2020-09-30	13F	TUCOWS	COM NEW	898697206	495,295	119,141	31.67	34,127	58.28	0.0011
2020-08-14	2020-06-30	13F	TUCOWS	COM NEW	898697206	376,154	7,456	2.02	21,561	21.18	0.0008
2020-05-15	2020-03-31	13F	TUCOWS	COM NEW	898697206	368,698	9,057	2.52	17,792	-19.92	0.0008
2020-02-14	2019-12-31	13F	TUCOWS	COM NEW	898697206	359,641	194	0.05	22,218	14.13	0.0008
2019-11-14	2019-09-30	13F	TUCOWS	COM NEW	898697206	359,447	26,127	7.84	19,467	-4.29	0.0007
2019-08-14	2019-06-30	13F	TUCOWS	COM NEW	898697206	333,320	10,188	3.15	20,339	-22.47	0.0008
2019-05-15	2019-03-31	13F	TUCOWS	COM NEW	898697206	323,132	194,678	151.55	26,233	240.03	0.0010
2019-02-14	2018-12-31	13F	TUCOWS	COM NEW	898697206	128,454	52,241	68.55	7,715	81.57	0.0003
2018-12-13	2018-09-30	13F/A-2	TUCOWS	COM NEW	898697206	76,213	4,143	5.75	4,249	-2.79	0.0002
2018-11-23	2018-09-30	13F/A-1	TUCOWS	COM NEW	898697206	76,213	0		4,249		0.0002
2018-11-14	2018-09-30	13F	TUCOWS	COM NEW	898697206	76,213	4,143		4,249
2018-08-14	2018-06-30	13F	TUCOWS	COM NEW	898697206	72,070	14,333	24.82	4,371	35.20	0.0002
2018-05-15	2018-03-31	13F	TUCOWS	COM NEW	898697206	57,737	1,733	3.09	3,233	-17.59	0.0001
2018-02-14	2017-12-31	13F	TUCOWS	COM NEW	898697206	56,004	4,225	8.16	3,923	29.39	0.0002
2017-11-14	2017-09-30	13F	TUCOWS	COM NEW	898697206	51,779	1,021	2.01	3,032	11.63	0.0001
2017-08-24	2017-06-30	13F/A-1	TUCOWS	COM NEW	898697206	50,758	50,758		2,716		0.0001
2017-08-11	2017-06-30	13F	TUCOWS	COM NEW	898697206	50,758			2,716		0.0001

Legend

Shares: The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value: The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price: The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class: This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred

Allocation (%): The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation: The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%): The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis: The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss: This is the market value of the position as of the effective date minus the cost basis.