Two Sigma Advisers, Lp reports 2.78% increase in ownership of 1AW / Argan, Inc.

Argan, Inc.

DE ˙ DB ˙ US04010E1091

655,00 € ↑60,00 (10,08%)

2026-06-05
DEL PRIS

Security	DE:1AW / Argan, Inc.
Institution	Two Sigma Advisers, Lp
Latest Disclosed Ownership	7,400 shares
Latest Disclosed Value	$ 2,318,568

On February 17, 2026 - Two Sigma Advisers, Lp filed a 13F-HR form disclosing ownership of 7,400 shares of Argan, Inc. (DE:1AW) valued at $1,983,200 USD as of December 31, 2025. The entity filed a previous 13F-HR on November 14, 2025 disclosing 7,200 shares of Argan, Inc.. This represents a change in shares of 2.78% during the quarter. The current value of the position is $4,847,000 USD.

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 (%)
2026-02-17	2025-12-31	13F	ARGAN	COM	04010E109	7,400	200	2.78	2,319	19.24	0.0045
2025-11-14	2025-09-30	13F	ARGAN	COM	04010E109	7,200	-78,200	-91.57	1,944	-89.67	0.0039
2025-08-14	2025-06-30	13F	ARGAN	COM	04010E109	85,400	-1,900	-2.18	18,829	64.42	0.0386
2025-05-15	2025-03-31	13F	ARGAN	COM	04010E109	87,300	76,200	686.49	11,451	652.86	0.0258
2025-02-14	2024-12-31	13F	ARGAN	COM	04010E109	11,100	200	1.83	1,521	37.65	0.0035
2024-11-14	2024-09-30	13F	ARGAN	COM	04010E109	10,900	-14,200	-56.57	1,106	-39.81	0.0026
2024-08-14	2024-06-30	13F	ARGAN	COM	04010E109	25,100	-1,400	-5.28	1,836	37.12	0.0041
2024-05-15	2024-03-31	13F	ARGAN	COM	04010E109	26,500	-10,100	-27.60	1,339	-21.79	0.0031
2024-02-14	2023-12-31	13F	ARGAN	COM	04010E109	36,600	-2,800	-7.11	1,713	-4.52	0.0040
2023-11-14	2023-09-30	13F	ARGAN	COM	04010E109	39,400	-4,300	-9.84	1,793	4.12	0.0046
2023-08-14	2023-06-30	13F	ARGAN	COM	04010E109	43,700	-4,900	-10.08	1,722	-12.41	0.0044
2023-05-15	2023-03-31	13F	ARGAN	COM	04010E109	48,600	-9,600	-16.49	1,967	-8.39	0.0051
2023-02-14	2022-12-31	13F	ARGAN	COM	04010E109	58,200	-23,700	-28.94	2,146	-18.56	0.0060
2022-11-14	2022-09-30	13F	ARGAN	COM	04010E109	81,900	-21,000	-20.41	2,635	-31.38	0.0076
2022-08-15	2022-06-30	13F	ARGAN	COM	04010E109	102,900	39,300	61.79	3,840	48.72	0.0109
2022-05-16	2022-03-31	13F	ARGAN	COM	04010E109	63,600	9,300	17.13	2,582	22.89	0.0069
2022-02-14	2021-12-31	13F	ARGAN	COM	04010E109	54,300	41,300	317.69	2,101	269.89	0.0053
2021-11-15	2021-09-30	13F	ARGAN	COM	04010E109	13,000	-7,900	-37.80	568	-43.14	0.0015
2021-08-16	2021-06-30	13F	ARGAN	COM	04010E109	20,900	2,100	11.17	999	-0.40	0.0026
2021-05-17	2021-03-31	13F	ARGAN	COM	04010E109	18,800	-900	-4.57	1,003	14.50	0.0028
2021-02-16	2020-12-31	13F	ARGAN	COM	04010E109	19,700	11,700	146.25	876	161.49	0.0023
2020-11-16	2020-09-30	13F	ARGAN	COM	04010E109	8,000	8,000		335		0.0010
2019-11-14	2019-09-30	13F	ARGAN	COM	04010E109	0	-7,100	-100.00	0	-100.00
2019-08-14	2019-06-30	13F	ARGAN	COM	04010E109	7,100	7,100		288		0.0007
2019-05-15	2019-03-31	13F	ARGAN	COM	04010E109	0	-7,300	-100.00	0	-100.00
2019-02-14	2018-12-31	13F	ARGAN	COM	04010E109	7,300	-41,323	-84.99	276	-86.80	0.0008
2018-11-14	2018-09-30	13F	ARGAN	COM	04010E109	48,623	-37,800	-43.74	2,091	-40.92	0.0051
2018-08-14	2018-06-30	13F	ARGAN	COM	04010E109	86,423	8,100	10.34	3,539	5.20	0.0095
2018-05-15	2018-03-31	13F	ARGAN	COM	04010E109	78,323	28,700	57.84	3,364	50.65	0.0091
2018-02-14	2017-12-31	13F	ARGAN	COM	04010E109	49,623	-53,900	-52.07	2,233	-67.93	0.0060
2017-11-14	2017-09-30	13F	ARGAN	COM	04010E109	103,523	-23,800	-18.69	6,962	-8.86	0.0197
2017-08-14	2017-06-30	13F	ARGAN	COM	04010E109	127,323	-31,373	-19.77	7,639	-27.23	0.0252
2017-05-15	2017-03-31	13F	ARGAN	COM	04010E109	158,696	-4,439	-2.72	10,498	-8.78	0.0344
2017-02-14	2016-12-31	13F	ARGAN	COM	04010E109	163,135	53,635	48.98	11,509	77.58	0.0440
2016-11-14	2016-09-30	13F	ARGAN	COM	04010E109	109,500	9,900	9.94	6,481	55.98	0.0276
2016-08-15	2016-06-30	13F	ARGAN	COM	04010E109	99,600	41,500	71.43	4,155	103.38	0.0211
2016-05-16	2016-03-31	13F	ARGAN	COM	04010E109	58,100	8,200	16.43	2,043	26.35	0.0114
2016-02-16	2015-12-31	13F	ARGAN	COM	04010E109	49,900	-700	-1.38	1,617	-8.33	0.0096
2015-11-16	2015-09-30	13F	ARGAN	COM	04010E109	50,600	6,900	15.79	1,764	0.11	0.0111
2016-02-09	2015-06-30	13F/A-1	ARGAN	COM	04010E109	43,700	400	0.92	1,762	12.52	0.0136
2015-08-14	2015-06-30	13F	ARGAN	COM	04010E109	41,700			1,682
2016-02-09	2015-03-31	13F/A-1	ARGAN	COM	04010E109	43,300	-7,300	-14.43	1,566	-7.99	0.0120
2015-05-15	2015-03-31	13F	ARGAN	COM	04010E109	39,600			1,433
2016-02-09	2014-12-31	13F/A-1	ARGAN	COM	04010E109	50,600	-30,000	-37.22	1,702	-36.73	0.0136
2015-02-17	2014-12-31	13F	ARGAN	COM	04010E109	46,900			1,578
2016-02-09	2014-09-30	13F/A-1	ARGAN	COM	04010E109	80,600	1,100	1.38	2,690	-9.27	0.0212
2014-11-14	2014-09-30	13F	ARGAN	COM	04010E109	80,500			2,683
2016-02-09	2014-06-30	13F/A-1	ARGAN	COMMON STOCK	04010E109	79,500	16,100	25.39	2,965	57.38	0.0239
2014-08-14	2014-06-30	13F	ARGAN	COMMON STOCK	04010E109	76,600			2,856
2014-05-15	2014-03-31	13F	ARGAN	COMMON STOCK	04010E109	63,400	18,400	40.89	1,884	51.81	0.0171
2014-02-14	2013-12-31	13F	ARGAN	COMMON STOCK	04010E109	45,000	18,500	69.81	1,241	112.86	0.0120
2013-11-14	2013-09-30	13F	Argan	Common Stock	04010E109	26,500	3,286	14.16	583	61.50	0.0069
2013-08-14	2013-06-30	13F	ARGAN	COM	04010E109	23,214	23,214		361		0.0052

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.