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Medifast, Inc. is reported to have a significant shareholder group composed of Susquehanna Portfolio Strategies, LLC and Susquehanna Securities, LLC. Together, these Reporting Persons report beneficial ownership of 587,214 shares of Medifast common stock, representing 5.3% of the outstanding shares as of June 30, 2026.
Susquehanna Securities, LLC’s reported holdings include options to buy 542,700 shares. Based on the company’s Form 10-Q, there were 11,181,000 shares outstanding as of June 30, 2026. Each Reporting Person reports sole voting and dispositive power over the shares it directly owns, and shared voting and dispositive power over all shares beneficially owned by the Reporting Persons, while disclaiming beneficial ownership of shares directly owned by the other.
Key Figures
Beneficial ownership:587,214 sharesPercent of class:5.3%Shares outstanding:11,181,000 shares+3 more
6 metrics
Beneficial ownership587,214 sharesTotal Medifast common shares beneficially owned by the Reporting Persons
Percent of class5.3%Portion of Medifast outstanding common stock beneficially owned
Shares outstanding11,181,000 sharesMedifast common shares outstanding as of June 30, 2026
Options held by Susquehanna Securities, LLC542,700 sharesOptions to buy Medifast shares included in beneficial ownership
Sole voting power - Susquehanna Portfolio Strategies, LLC41,777 sharesShares over which this entity reports sole voting power
Sole voting power - Susquehanna Securities, LLC545,437 sharesShares over which this entity reports sole voting power
Key Terms
beneficial ownership, shared voting power, sole dispositive power, Schedule 13G, +1 more
5 terms
beneficial ownershipfinancial
"The information required by this Item 4(a) is set forth in Row 9... beneficially owned"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
shared voting powerfinancial
"6 | Shared Voting Power 587,214.00"
Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.
sole dispositive powerfinancial
"7 | Sole Dispositive Power 41,777.00"
Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.
Schedule 13Gregulatory
"form_type": "SCHEDULE 13G""
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
CUSIP Numberfinancial
"(e) | CUSIP Number(s): 58470H101"
A CUSIP number is a nine-character code that uniquely identifies a specific U.S. or Canadian stock, bond, or other security, similar to a barcode or a social-security number for a financial instrument. It matters to investors because it removes confusion between similar securities, ensures trades and settlements are applied to the correct issue, and helps locate official documents and transaction records quickly.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What stake in Medifast, Inc. (MED) do the Susquehanna entities report?
The Susquehanna entities report beneficial ownership of 587,214 shares of Medifast common stock, representing 5.3% of the company’s outstanding shares as of June 30, 2026, according to their Schedule 13G filing.
Who are the reporting persons in this Medifast (MED) Schedule 13G?
The reporting persons are Susquehanna Portfolio Strategies, LLC and Susquehanna Securities, LLC. They are collectively referred to as the Reporting Persons with respect to their beneficial ownership of Medifast common stock.
How many Medifast (MED) shares outstanding are used to calculate the 5.3% ownership?
The 5.3% ownership is based on 11,181,000 shares outstanding of Medifast common stock, as indicated in the company’s Form 10-Q for the period ended June 30, 2026.
Does Susquehanna Securities, LLC hold Medifast (MED) options?
Yes. The reported Medifast holdings of Susquehanna Securities, LLC include options to buy 542,700 shares of common stock, which are counted in its beneficial ownership under the Schedule 13G.
How is voting and dispositive power over Medifast (MED) shares allocated between the Susquehanna entities?
Each Reporting Person reports sole voting and dispositive power over shares it directly owns and shared voting and dispositive power over all shares beneficially owned by the Reporting Persons, while disclaiming beneficial ownership of the other’s directly owned shares.
What type of filing is this Medifast (MED) disclosure by Susquehanna?
This disclosure is a Schedule 13G filing, indicating passive beneficial ownership of more than 5% of Medifast’s common stock by the Susquehanna entities, rather than an activist Schedule 13D filing.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Medifast, Inc.
(Name of Issuer)
Common Stock, $0.001 par value per share
(Title of Class of Securities)
58470H101
(CUSIP Number)
06/30/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
58470H101
1
Names of Reporting Persons
Susquehanna Portfolio Strategies, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
41,777.00
6
Shared Voting Power
587,214.00
7
Sole Dispositive Power
41,777.00
8
Shared Dispositive Power
587,214.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
587,214.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.3 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: With respect to Row 5 through Row 9 above, Susquehanna Securities, LLC is an independent broker-dealer which, together with Susquehanna Portfolio Strategies, LLC, may be deemed a group. For purposes of this report, we have indicated that each reporting person has sole voting and dispositive power with respect to the shares beneficially owned by it and that the reporting persons have shared voting and dispositive power with respect to all shares beneficially owned by all of the reporting persons. Each of the reporting persons disclaims beneficial ownership of shares owned directly by another reporting person.
SCHEDULE 13G
CUSIP Number(s):
58470H101
1
Names of Reporting Persons
Susquehanna Securities, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
545,437.00
6
Shared Voting Power
587,214.00
7
Sole Dispositive Power
545,437.00
8
Shared Dispositive Power
587,214.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
587,214.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.3 %
12
Type of Reporting Person (See Instructions)
BD, OO
Comment for Type of Reporting Person: With respect to Row 5 through Row 9 above, Susquehanna Securities, LLC is an independent broker-dealer which, together with Susquehanna Portfolio Strategies, LLC, may be deemed a group. For purposes of this report, we have indicated that each reporting person has sole voting and dispositive power with respect to the shares beneficially owned by it and that the reporting persons have shared voting and dispositive power with respect to all shares beneficially owned by all of the reporting persons. Each of the reporting persons disclaims beneficial ownership of shares owned directly by another reporting person.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Medifast, Inc.
(b)
Address of issuer's principal executive offices:
1501 S. Clinton Street, Baltimore, Maryland 21224
Item 2.
(a)
Name of person filing:
This statement is filed by the entities listed below, who are collectively referred to herein as "Reporting Persons" with respect to the shares of Common Stock, $0.001 par value per share (the "Shares"), of Medifast, Inc. (the "Company").
(i) Susquehanna Portfolio Strategies, LLC
(ii) Susquehanna Securities, LLC
(b)
Address or principal business office or, if none, residence:
The address of the principal business office of each of Susquehanna Portfolio Strategies, LLC and Susquehanna Securities, LLC is:
401 E. City Avenue
Suite 220
Bala Cynwyd, PA 19004
(c)
Citizenship:
Citizenship is set forth in Row 4 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
(d)
Title of class of securities:
Common Stock, $0.001 par value per share
(e)
CUSIP Number(s):
58470H101
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
The information required by this Item 4(a) is set forth in Row 9 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
The number of Shares reported as beneficially owned by Susquehanna Securities, LLC includes options to buy 542,700 Shares.
The Company's Quarterly Report on Form 10-Q, filed on August 3, 2026, indicates that there were 11,181,000 Shares outstanding as of June 30, 2026.
(b)
Percent of class:
5.3 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information required by this Item 4(c)(i) is set forth in Row 5 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
(ii) Shared power to vote or to direct the vote:
The information required by this Item 4(c)(ii) is set forth in Row 6 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
(iii) Sole power to dispose or to direct the disposition of:
The information required by this Item 4(c)(iii) is set forth in Row 7 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
(iv) Shared power to dispose or to direct the disposition of:
The information required by this Item 4(c)(iv) is set forth in Row 8 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Susquehanna Portfolio Strategies, LLC
Signature:
/s/ Brian Sopinsky
Name/Title:
Brian Sopinsky, Assistant Secretary
Date:
08/14/2026
Susquehanna Securities, LLC
Signature:
/s/ Brian Sopinsky
Name/Title:
Brian Sopinsky, Secretary
Date:
08/14/2026
Exhibit Information
EXHIBIT INDEX
EXHIBIT DESCRIPTION
________ ________
99 Joint Filing Agreement
