Notable Registered Transfer Agents, by Securities Issues Served (2025)

Eshares Inc dba Carta Inc reports 32.1% of the corporate equity issues that US transfer agents serve, more than the next four transfer agents combined, according to SEC Form TA-2 filings for 2025. The five agents with the most corporate equity issues report 63.6% of the 67,397 in total, according to the same SEC data, and 98 agents report at least one.

Every registered transfer agent, whether it registered with the SEC or with a bank regulator, files Form TA-2 with the SEC each year. This page reads the 253 reports filed for 2025 in the SEC's Transfer Agent Data Sets. According to SEC statistics, 327 transfer agents were registered on June 30, 2026, against 475 on September 30, 2012.

The 25 transfer agents with the most corporate equity issues

Ranked by the corporate equity issues each agent served on December 31, 2025, as it reported on Form TA-2. "All issues" adds corporate debt, fund shares, limited partnership interests, municipal debt and other securities. Each row is one registration, and the source link opens the filing on SEC EDGAR.

Rank	Transfer agent	Regulator	Corporate equity issues	All issues	Securityholder accounts	Source
1	Eshares Inc dba Carta Inc	SEC	21,645	22,053	2,357,976	SEC
2	Equiniti Trust Company, LLC	SEC	7,909	8,453	13,500,329	SEC
3	Computershare Inc	SEC	5,509	104,641	17,260,657	SEC
4	Continental Stock Transfer & Trust Co	SEC	4,510	4,513	2,193,906	SEC
5	Pacific Stock Transfer Co	SEC	3,258	3,258	778,772	SEC
6	Odyssey Trust Co	SEC	2,870	3,031	192,594	SEC
7	TMX Investor Solutions Inc.	SEC	2,455	2,945	1,278,097	SEC
8	Bank of New York Mellon	Federal Reserve	2,404	695,019	270,037	SEC
9	VStock Transfer, LLC	SEC	1,609	1,613	149,019	SEC
10	Securities Transfer Corp	SEC	1,466	1,598	672,520	SEC
11	UMB Fund Services Inc	SEC	1,168	1,550	2,787,554	SEC
12	Colonial Stock Transfer Co Inc	SEC	1,147	1,351	230,588	SEC
13	Computershare Investor Services Inc	SEC	1,125	1,413	1,250,003	SEC
14	Broadridge Corporate Issuer Solutions, LLC	SEC	1,114	1,115	962,333	SEC
15	ClearTrust, LLC	SEC	1,097	1,099	224,579	SEC
16	Computershare Trust Co of Canada	SEC	690	978	1,499,105	SEC
17	Endeavor Trust Corp	SEC	646	646	55,916	SEC
18	Empire Stock Transfer Inc.	SEC	549	549	54,223	SEC
19	Olympia Trust Co	SEC	528	807	92,777	SEC
20	Standard Registrar & Transfer Co Inc	SEC	429	429	215,315	SEC
21	Legacy Stock Transfer Inc	SEC	425	425	80,013	SEC
22	Transhare Corp	SEC	414	414	16,429	SEC
23	Equity Stock Transfer, LLC	SEC	362	363	37,950	SEC
24	SS&C GIDS, Inc.	SEC	333	10,359	7,780,510	SEC
25	Odyssey Transfer & Trust Co	SEC	294	299	120,332	SEC

Download this table (CSV), free. The full dataset, every Form TA-2 filed for 2025 with issues by type, accounts and regulator, is one email away.

The 10 transfer agents with the most securityholder accounts

Ranked by the individual securityholder accounts each agent reported on December 31, 2025, out of 281,227,989 reported by all filers, according to SEC Form TA-2.

Rank	Transfer agent	Regulator	Securityholder accounts	Share of accounts reported	Source
1	National Financial Services LLC	SEC	93,719,103	33.3%	SEC
2	Alight Solutions LLC	SEC	24,361,278	8.7%	SEC
3	Vanguard Group Inc	SEC	20,304,103	7.2%	SEC
4	Fidelity Investments Institutional Operations Co LLC	SEC	19,059,444	6.8%	SEC
5	American Funds Service Co	SEC	18,422,085	6.6%	SEC
6	Computershare Inc	SEC	17,260,657	6.1%	SEC
7	Equiniti Trust Company, LLC	SEC	13,500,329	4.8%	SEC
8	Ascensus College Savings Recordkeeping Services LLC	SEC	9,911,412	3.5%	SEC
9	SS&C GIDS, Inc.	SEC	7,780,510	2.8%	SEC
10	Price Rowe T Retirement Plan Services Inc	SEC	6,906,550	2.5%	SEC

Issues, accounts and who keeps them

• An issue count weighs every security alike. Eshares Inc dba Carta Inc reports 2,357,976 securityholder accounts, while Computershare Inc, which reports fewer corporate equity issues, reports 17,260,657, according to SEC filings. The two measures rank different agents first, which is why both tables are shown.
• Most issues are debt, not stock. According to SEC Form TA-2 data, municipal debt is the largest category, 47.3% of the 1,760,880 issues reported, and corporate equity is 3.8%.
• Bank transfer agents keep most issues. Agents registered with a bank regulator report 86.1% of all issues, according to SEC data, and 72.3% of their issues are municipal or corporate debt.
• By accounts, the leader is another agent. National Financial Services LLC alone reports 33.3% of all securityholder accounts on Form TA-2, according to SEC filings.

What this means for technology buyers

A transfer agent keeps the official record of who owns an issuer's securities. Choosing one, or the systems an issuer runs beside it, is also a choice about how those records reach the rest of the company. These guides cover the decisions around it:

• Stock plan administration platforms: equity awards for employees, whose shares the transfer agent eventually records.
• Corporate actions processing platforms: dividends, splits and other events that run through an agent's books.
• Trust accounting systems for banks and trust companies: the bank side of agency work, where 90% of the debt issues on Form TA-2 sit, according to SEC data.

Mapping the operating model first? The Investment Banking Capability Model sets out what a markets business does, including issuer services.

More from Finantrix Atlas

• Who are the transfer agents for US funds?
• Largest bank trust departments in the US
• Top broker-dealer firms in the US

How this list was built

The SEC's Division of Economic and Risk Analysis publishes the Transfer Agent Data Sets each quarter: every Form TA-1, TA-2 and TA-W filed in that quarter, as filed. Form TA-2 reports a calendar year and is due by March 31 of the next. This page reads every quarterly file from 2026 Q1 to 2026 Q2, and for each transfer agent file number keeps its latest Form TA-2 or TA-2/A for 2025. That gives 253 reports: 200 from agents registered with the SEC and 53 from agents registered with a bank regulator.

Issue counts are Form TA-2 Question 6, summed over the three capacities it lists: receiving items for transfer and keeping the master securityholder file, receiving items only, and keeping the file only. Accounts are Question 5(a).

The SEC's own count of registered transfer agents comes from its transfer agent statistics. The page checks that the filers, by regulator, fit inside the SEC's counts for June 30, 2026, and that the filers that are small by the SEC's definition do not exceed the 138 small agents it counts.

Limits

• Filers, not every registration. 253 reports for 2025 are in the data, against 327 registered transfer agents in the SEC's count. A report filed late appears only once the SEC publishes the quarter it was filed in, and the SEC's count includes agents that have not filed.
• Issues, not issuers. Form TA-2 counts securities issues. One issuer can have several, such as share classes or bond series, and the form does not say whether an issue is listed.
• Blanks are not zeros. Form TA-2 lets an agent that received fewer than 1,000 items for transfer and kept fewer than 1,000 accounts skip Question 6, and an agent whose service company does all its work answer only Questions 1 to 3. 25 filers report no account count and 34 no issue count; the table shows "not published" for them.
• Work done by service companies can be counted twice. An agent that hires a service company for some of its work reports its issues, and the service company can report them too.
• Registrations, not companies. One company can hold several registrations, and each is a row; the free CSV keeps the SEC file number so they can be grouped.
• One date. Issues and accounts are as of December 31, 2025; the SEC's registered count is as of June 30, 2026.

Cite this

Free to quote, cite and republish, including the chart, with credit to Finantrix Atlas and a link to this page.

Eshares Inc dba Carta Inc reports 32.1% of the corporate equity issues served by US transfer agents, according to a Finantrix Atlas analysis of SEC Form TA-2 filings for 2025.

According to SEC statistics, 327 transfer agents were registered on June 30, 2026, against 475 on September 30, 2012, as compiled by Finantrix Atlas.

Suggested citation: Finantrix Atlas, "Notable Registered Transfer Agents, by Securities Issues Served," Form TA-2 data for 2025, from the SEC Transfer Agent Data Sets. https://www.finantrix.com/articles/transfer-agents-registered

Embed the chart:

<a href="https://www.finantrix.com/articles/transfer-agents-registered"><img src="https://www.finantrix.com/atlas/transfer-agents-registered.png" alt="Transfer agents by corporate equity issues served, from SEC Form TA-2 data, by Finantrix Atlas"></a>
<p>Chart: <a href="https://www.finantrix.com/articles/transfer-agents-registered">Finantrix Atlas</a>, from SEC Form TA-2 data.</p>

Frequently asked questions

Q: How many transfer agents are registered in the US? A: 327 on June 30, 2026, according to SEC statistics: 272 registered with the SEC and 55 with a bank regulator.

Q: Which transfer agent serves the most corporate equity issues? A: Eshares Inc dba Carta Inc, with 21,645 on December 31, 2025, according to its SEC Form TA-2. Equiniti Trust Company, LLC is next, with 7,909.

Q: Which transfer agent keeps the most securityholder accounts? A: National Financial Services LLC, with 93,719,103 individual securityholder accounts on December 31, 2025, according to SEC Form TA-2 filings.

Q: What is Form TA-2? A: The annual report every registered transfer agent files with the SEC. It reports the agent's securityholder accounts, the securities issues it serves by type, and its compliance with the SEC's processing rules for the calendar year.