diff --git a/package.json b/package.json
index 7b398b6..05ed511 100644
--- a/package.json
+++ b/package.json
@@ -51,7 +51,7 @@
     "build": "tsc",
     "dev": "tsc --watch",
     "start": "node dist/index.js",
-    "test": "node test/mcp-test.mjs && node test/client-errors.mjs && node test/generated-paths.mjs",
+    "test": "node test/mcp-test.mjs && node test/client-errors.mjs && node test/generated-paths.mjs && node test/format.mjs",
     "codegen": "node codegen/generate.mjs",
     "codegen:check": "node codegen/check.mjs",
     "prepublishOnly": "npm run build"
diff --git a/src/format.ts b/src/format.ts
new file mode 100644
index 0000000..04d7316
--- /dev/null
+++ b/src/format.ts
@@ -0,0 +1,149 @@
+/**
+ * Renders tool results for the MCP text channel.
+ *
+ * Every tool used to return `JSON.stringify(data, null, 2)`. For the list
+ * endpoints that is a bad trade: a 100-row `get_transactions` response is
+ * ~2,100 lines and ~16k tokens, and roughly 60% of that is the same nineteen
+ * key names repeated a hundred times. The rows are what the model needs; the
+ * repetition is what it pays for.
+ *
+ * A pipe-delimited table states each key once, in the header. Measured on a
+ * 100-row get_transactions payload with all nineteen fields kept (the figure
+ * test/format.mjs prints, so it stays honest as the shape changes):
+ *
+ *     pretty JSON   60,302 chars   ~15,076 tokens   2,102 lines
+ *     table         22,145 chars    ~5,536 tokens     103 lines
+ *
+ * 2.7x. Dropping columns would roughly double that again, and the reasoning
+ * below is why it is not done. That saving is spent from the caller's context
+ * window rather than ours, and MCP is this product's highest-reach channel,
+ * so it is worth being careful about in both directions.
+ *
+ * Two deliberate limits:
+ *
+ *   - No columns are dropped. A curated column set per tool would compress
+ *     further, but a field the model cannot see is a field the user cannot
+ *     ask about, and the tools are generated from an evolving OpenAPI spec —
+ *     a hand-maintained column list would rot silently.
+ *
+ *   - Rows carrying nested collections fall back to JSON. `get_signals`
+ *     returns each signal with its `transactions[]` attached, and those
+ *     transactions are the substance of the answer; flattening them into a
+ *     cell would either explode the table or lose them. Losing data to save
+ *     tokens is not a trade worth making, so those tools keep their old
+ *     output exactly.
+ *
+ * Not used here: `structuredContent`. It cannot hold a bare array (the spec
+ * types it as an object), and a tool that sets it SHOULD also serialize the
+ * same payload into a text block — so it duplicates the data rather than
+ * replacing it, which is the opposite of the point. Declaring the matching
+ * `outputSchema` would also make the SDK hard-fail any tool whose response
+ * drifts from it, and these shapes come from a live API.
+ */
+
+/** Widest a single cell may get before it is truncated with an ellipsis. */
+const MAX_CELL_CHARS = 80
+
+/**
+ * Above this many rows the header is repeated at the bottom. Long tables lose
+ * their header off the top of a model's attention the same way they do off the
+ * top of a screen.
+ */
+const REPEAT_HEADER_AFTER = 40
+
+export function formatCell(value: unknown): string {
+  if (value === null || value === undefined || value === '') return '—'
+  if (typeof value === 'boolean') return value ? 'yes' : 'no'
+  if (typeof value === 'number') {
+    if (!Number.isFinite(value)) return '—'
+    // Integers stay exact — share counts and CIKs must not pick up decimals.
+    if (Number.isInteger(value)) return String(value)
+    // Returns and hit rates are stored as FRACTIONS — the generated spec says so
+    // on every scored endpoint: 0.0234 is +2.34%. Rounding those to 2dp reads as
+    // +2%, renders a -0.30% return as the nonsense "-0.00", and collapses a
+    // leaderboard's ordering into ties. So anything below 1 keeps four decimals;
+    // money and prices sit above 1 and read fine at two.
+    return String(Number(value.toFixed(Math.abs(value) < 1 ? 4 : 2)))
+  }
+  if (typeof value === 'bigint') return value.toString()
+  if (typeof value === 'string') {
+    // A newline inside a cell would break the row/line correspondence the
+    // whole format depends on.
+    const collapsed = value.replace(/\s+/g, ' ').trim()
+    return collapsed === '' ? '—' : truncate(collapsed)
+  }
+  // Empty containers are the only nested values that reach here — anything
+  // non-empty sends the whole payload down the JSON path (see isFlatRow).
+  if (Array.isArray(value)) return '[]'
+  return '{}'
+}
+
+function truncate(text: string): string {
+  return text.length > MAX_CELL_CHARS ? `${text.slice(0, MAX_CELL_CHARS - 1)}…` : text
+}
+
+/** A pipe in a value would read as a column break. */
+function escapeCell(cell: string): string {
+  return cell.includes('|') ? cell.replace(/\|/g, '/') : cell
+}
+
+function isPlainObject(value: unknown): value is Record<string, unknown> {
+  return typeof value === 'object' && value !== null && !Array.isArray(value)
+}
+
+/**
+ * True when a row can be rendered as a table line without losing anything.
+ * Empty arrays and empty objects are fine — they carry no information a cell
+ * cannot state. Anything populated does not fit in a cell.
+ */
+function isFlatRow(row: unknown): row is Record<string, unknown> {
+  if (!isPlainObject(row)) return false
+  for (const value of Object.values(row)) {
+    if (Array.isArray(value) && value.length > 0) return false
+    if (isPlainObject(value) && Object.keys(value).length > 0) return false
+  }
+  return true
+}
+
+/**
+ * Column order follows first appearance across the rows rather than the first
+ * row alone: a nullable field the API omits from early rows still gets a
+ * column instead of being silently dropped.
+ */
+function collectColumns(rows: Record<string, unknown>[]): string[] {
+  const columns: string[] = []
+  const seen = new Set<string>()
+  for (const row of rows) {
+    for (const key of Object.keys(row)) {
+      if (seen.has(key)) continue
+      seen.add(key)
+      columns.push(key)
+    }
+  }
+  return columns
+}
+
+export function renderTable(rows: Record<string, unknown>[]): string {
+  const columns = collectColumns(rows)
+  const header = columns.join(' | ')
+  const lines = [header]
+  for (const row of rows) {
+    lines.push(columns.map((column) => escapeCell(formatCell(row[column]))).join(' | '))
+  }
+  if (rows.length > REPEAT_HEADER_AFTER) lines.push(header)
+  return lines.join('\n')
+}
+
+/**
+ * Render a tool result for the text channel: a table when the payload is a
+ * list of flat rows, the previous pretty JSON otherwise.
+ */
+export function formatToolResult(data: unknown): string {
+  if (!Array.isArray(data)) return JSON.stringify(data, null, 2)
+  if (data.length === 0) return 'No results.'
+  if (!data.every(isFlatRow)) return JSON.stringify(data, null, 2)
+
+  const rows = data as Record<string, unknown>[]
+  const count = `${rows.length} ${rows.length === 1 ? 'row' : 'rows'}.`
+  return `${count}\n${renderTable(rows)}`
+}
diff --git a/src/index.ts b/src/index.ts
index 0098ccc..69a54f2 100644
--- a/src/index.ts
+++ b/src/index.ts
@@ -4,6 +4,7 @@ import { join } from 'node:path'
 import { McpServer } from '@modelcontextprotocol/sdk/server/mcp.js'
 import { StdioServerTransport } from '@modelcontextprotocol/sdk/server/stdio.js'
 import { Form4ApiClient, Form4ApiError } from './client.js'
+import { formatToolResult } from './format.js'
 import { getTransactionsSchema, getTransactions } from './tools/transactions.js'
 import { getRecentFilingsSchema, getFilingSchema, getRecentFilings, getFiling } from './tools/filings.js'
 import { getInsiderProfileSchema, getInsiderTransactionsSchema, getInsiderProfile, getInsiderTransactions } from './tools/insiders.js'
@@ -50,7 +51,7 @@ const server = new McpServer(
 
 function wrapResult(data: unknown): { content: Array<{ type: 'text'; text: string }> } {
   return {
-    content: [{ type: 'text', text: JSON.stringify(data, null, 2) }],
+    content: [{ type: 'text', text: formatToolResult(data) }],
   }
 }
 
diff --git a/test/format.mjs b/test/format.mjs
new file mode 100644
index 0000000..256f83a
--- /dev/null
+++ b/test/format.mjs
@@ -0,0 +1,140 @@
+// Unit tests for the MCP text-channel formatter.
+//
+// The integration test (mcp-test.mjs) checks that tools respond; it cannot
+// check what the response reads like, because that needs a live key and a
+// deterministic payload. These run the formatter directly over fixtures that
+// stand in for the real response shapes — flat lists, lists carrying nested
+// collections, single objects, and the empty case.
+//
+// Run: node test/format.mjs   (requires npm run build first)
+
+import { createRequire } from 'node:module'
+
+const require = createRequire(import.meta.url)
+const { formatToolResult, formatCell, renderTable } = require('../dist/format.js')
+
+let passed = 0
+let failed = 0
+
+function assert(condition, label) {
+  if (condition) {
+    console.log(`  ✓ ${label}`)
+    passed++
+  } else {
+    console.error(`  ✗ ${label}`)
+    failed++
+  }
+}
+
+// A row shaped like the real Transaction interface.
+const txn = (over = {}) => ({
+  transactionId: 184920331,
+  accessionNumber: '0000320193-26-000042',
+  filedAt: '2026-08-19T20:31:00Z',
+  transactionDate: '2026-08-17',
+  transactionCode: 'P',
+  sharesAmount: 12500,
+  pricePerShare: 231.44,
+  totalValue: 2893000,
+  isOpenMarket: true,
+  is10b5Plan: false,
+  companyName: 'Apple Inc.',
+  ticker: 'AAPL',
+  companyCik: '0000320193',
+  insiderName: 'Cook Timothy D',
+  insiderCik: '0001214128',
+  insiderTitle: 'Chief Executive Officer',
+  isDirector: false,
+  isOfficer: true,
+  is10PctOwner: false,
+  ...over,
+})
+
+console.log('\nCell formatting')
+assert(formatCell(null) === '—', 'null renders as an em dash, not "null"')
+assert(formatCell(undefined) === '—', 'undefined renders as an em dash')
+assert(formatCell('') === '—', 'empty string renders as an em dash')
+assert(formatCell(true) === 'yes' && formatCell(false) === 'no', 'booleans read as yes/no')
+assert(formatCell(12500) === '12500', 'integers stay exact — no decimals on share counts')
+assert(formatCell(231.4444) === '231.44', 'money-scale numbers round to 2dp')
+
+// Returns and hit rates are stored as FRACTIONS (0.0234 is +2.34%). At 2dp the
+// leaderboard's whole ranking column collapses: +2.34% and +1.51% both print
+// "0.02", and a -0.30% return prints "-0.00".
+assert(formatCell(0.0234) === '0.0234', 'a fractional return keeps the digits that carry its meaning')
+assert(formatCell(0.109) === '0.109', 'a 10.9% return does not round to 11%')
+assert(formatCell(-0.003) === '-0.003', 'a small negative return keeps its sign and size')
+assert(!formatCell(-0.003).startsWith('-0.00') || formatCell(-0.003).length > 5, 'no "-0.00" cells')
+assert(formatCell(0.6667) === '0.6667', 'a hit rate keeps four decimals')
+assert(formatCell(1234.5678) === '1234.57', 'above 1, two decimals is still enough')
+assert(formatCell(NaN) === '—', 'NaN renders as an em dash rather than "NaN"')
+assert(formatCell('a\nb  c') === 'a b c', 'newlines collapse so a cell cannot break the row')
+assert(formatCell('x'.repeat(200)).length === 80, 'long strings truncate to the cell cap')
+assert(formatCell([]) === '[]' && formatCell({}) === '{}', 'empty containers render as literals')
+
+console.log('\nTable rendering')
+{
+  const out = renderTable([{ a: 1, b: 'x' }, { a: 2, b: 'y' }])
+  const lines = out.split('\n')
+  assert(lines[0] === 'a | b', 'header names each key once')
+  assert(lines[1] === '1 | x' && lines[2] === '2 | y', 'one line per row')
+  assert(lines.length === 3, 'no header repeat on a short table')
+}
+{
+  // A field absent from the first row must still get a column.
+  const out = renderTable([{ a: 1 }, { a: 2, b: 'late' }])
+  assert(out.split('\n')[0] === 'a | b', 'columns collect across all rows, not just the first')
+  assert(out.split('\n')[1] === '1 | —', 'a row missing that field renders an em dash')
+}
+{
+  const out = renderTable([{ a: 'x | y' }])
+  assert(!out.split('\n')[1].includes('|'), 'a pipe inside a value cannot fake a column break')
+}
+{
+  const out = renderTable(Array.from({ length: 41 }, () => ({ a: 1 })))
+  const lines = out.split('\n')
+  assert(lines[lines.length - 1] === 'a', 'a long table repeats its header at the bottom')
+}
+
+console.log('\nPayload routing')
+{
+  const out = formatToolResult([txn(), txn({ transactionCode: 'S' })])
+  assert(out.startsWith('2 rows.\n'), 'a list is prefixed with its row count')
+  assert(out.split('\n').length === 4, 'two rows render as count + header + 2 lines')
+  assert(out.includes('Cook Timothy D'), 'row values survive into the table')
+  assert(!out.includes('"insiderName"'), 'key names are not repeated per row')
+}
+assert(formatToolResult([]) === 'No results.', 'an empty list says so instead of printing []')
+assert(formatToolResult([txn()]).startsWith('1 row.'), 'the row count is singular at one row')
+{
+  // get_signals attaches each signal's transactions; flattening would lose them.
+  const signal = { signalId: 1, ticker: 'AAPL', transactions: [txn()] }
+  const out = formatToolResult([signal])
+  assert(out.includes('"transactionId"'), 'rows with nested collections fall back to JSON')
+  assert(JSON.parse(out).length === 1, 'that fallback is valid, parseable JSON')
+}
+{
+  // An empty nested array carries nothing, so the table is still lossless.
+  const out = formatToolResult([{ signalId: 1, transactions: [] }])
+  assert(out.startsWith('1 row.'), 'an empty nested collection still tables')
+}
+{
+  // Single-object endpoints (get_company_overview, verify_setup) are unchanged.
+  const obj = { cik: '0000320193', name: 'Apple Inc.', ticker: 'AAPL' }
+  const out = formatToolResult(obj)
+  assert(out === JSON.stringify(obj, null, 2), 'a single object keeps its pretty JSON')
+}
+assert(formatToolResult(['a', 'b']).startsWith('['), 'a list of scalars is not a table')
+
+console.log('\nSize')
+{
+  const rows = Array.from({ length: 100 }, () => txn())
+  const before = JSON.stringify(rows, null, 2).length
+  const after = formatToolResult(rows).length
+  const ratio = before / after
+  console.log(`  100 transactions: ${before.toLocaleString('en-US')} chars -> ${after.toLocaleString('en-US')} chars (${ratio.toFixed(1)}x smaller)`)
+  assert(ratio > 2.5, 'a 100-row payload shrinks by more than 2.5x')
+}
+
+console.log(`\n${passed} passed, ${failed} failed`)
+process.exit(failed > 0 ? 1 : 0)