AGM Federal Agricultural Mortgage Corporation Common Stock
$231.25
Price · Aug 18, 2026
Fundamentals as of Jul 30, 2026
52W Range
$137–$248
85% of range
Analyst Rating
BUY
6 analysts
Price Target
$257
+11% upside
P/E (TTM)
10.6
ROE
12.7%
Net Profit Margin
50.8%
About Federal Agricultural Mortgage Corporation Common Stock Company overview from Wikipedia
The Federal Agricultural Mortgage Corporation, also known as Farmer Mac, is a stockholder-owned, federally chartered corporation established by the U.S. Congress in 1988 under the Agricultural Credit Act of 1987. It was created to establish a secondary market for agricultural real estate and housing mortgage loans, to increase liquidity and the availability of long-term, stable credit for farmers, ranchers, and rural communities.
Read more
The Federal Agricultural Mortgage Corporation, also known as Farmer Mac, is a stockholder-owned, federally chartered corporation established by the U.S. Congress in 1988 under the Agricultural Credit Act of 1987. It was created to establish a secondary market for agricultural real estate and housing mortgage loans, to increase liquidity and the availability of long-term, stable credit for farmers, ranchers, and rural communities.
Operations
Farmer Mac operates by purchasing eligible loans from agricultural and rural infrastructure lenders, guaranteeing securities backed by those loans, and providing loan funding and risk management solutions to rural financing institutions. This structure allows lenders to replenish capital and continue issuing loans, thereby contributing to liquidity in the agricultural and rural infrastructure sectors. Over time, its statutory authority has expanded to include loans for rural utilities, renewable energy, and other infrastructure projects.
Regulated by the Farm Credit Administration, Farmer Mac is one of the government-sponsored enterprises (GSEs) tasked with supporting targeted credit markets. According to the Congressional Research Service, the creation of Farmer Mac was intended to stabilize rural credit markets and attract investment into agriculture through securitization and secondary market mechanisms.
Farmer Mac supports markets such as including agriculture, agribusiness, rural broadband, power and utilities, and infrastructure financing, with the aim of enhancing the availability of long-term credit and providing greater liquidity and lending capacity for lenders to agriculture and infrastructure borrowers.
History
The Federal Agricultural Mortgage Corporation was created by the Agricultural Credit Act of 1987 (Pub. L. 100–233) as a federally chartered, private corporation responsible for guaranteeing the timely repayment of principal and interest to investors in a new agricultural secondary market. The secondary market allows a lending institution to sell a qualified farm real estate loan to an agricultural mortgage marketing facility, or pooler, which packages these loans, and sells to investors securities that are backed by, or represent interests in, the pooled loans. Farmer Mac guarantees the timely repayment of principal and interest on these securities and, under authorities granted in 1995, can also serve as a loan pooler.
The company was founded during a $4 billion bailout of the Farm Credit System, hoping to provide an alternative source of credit to farmers following the models of Fannie Mae and Ginnie Mae.
2008 financial crisis
Farmer Mac had $47.2 million invested in Fannie Mae shares in June of the 2008 financial crisis. Over the next few months, during the Federal takeover of Fannie Mae and Freddie Mac, the investments lost about $44 million in value. The company also had significant investments in Lehman Brothers. In response, the Farm Credit System bailed the company out by purchasing $60 million in Farmer Mac stock, and Zions Bancorporation of Salt Lake City purchased another $5 million in stock.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
AGM Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$231.25
Market Cap
—
P/E (TTM)
10.6
EPS (TTM)
$16.62
Revenue (TTM)
—
Div Yield
—
ROE
12.7%
Debt/Equity
17.9
52W Range
$137 – $248
AGM Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
—
EPS
$16.62
2023-12-31
→
2025-12-31
Free Cash Flow
$80M
2024-12-31
→
2025-12-31
Margins
50.8%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
AGM
Peer Median
P/E (TTM)
10.6
10.8
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
AGM
Peer Median
Net Profit Margin
50.8%
9.4%
ROA
0.62%
1.1%
ROE
12.7%
11.1%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
AGM
Peer Median
Debt / Equity
17.9
2.6
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
AGM
Peer Median
Revenue YoY
8.9%
—
Revenue CAGR 3Y
9.7%
—
Revenue CAGR 5Y
13.8%
—
EPS YoY
1.1%
—
Net Income YoY
0.11%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
AGM
Peer Median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
—
Payout Ratio
—
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| June 15, 2026 | $1.6000 |
| March 16, 2026 | $1.6000 |
| Dec. 15, 2025 | $1.5000 |
| Sept. 15, 2025 | $1.5000 |
| June 16, 2025 | $1.5000 |
| March 14, 2025 | $1.5000 |
| Dec. 16, 2024 | $1.4000 |
| Sept. 16, 2024 | $1.4000 |
| June 14, 2024 | $1.4000 |
| March 14, 2024 | $1.4000 |
| Dec. 14, 2023 | $1.1000 |
| Sept. 14, 2023 | $1.1000 |
| June 15, 2023 | $1.1000 |
| March 15, 2023 | $1.1000 |
| Dec. 14, 2022 | $0.9500 |
| Sept. 14, 2022 | $0.9500 |
| June 14, 2022 | $0.9500 |
| March 15, 2022 | $0.9500 |
| Dec. 14, 2021 | $0.8800 |
| Sept. 14, 2021 | $0.8800 |
AGM Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
6 analysts
- Strong Buy 1 16.7%
- Buy 4 66.7%
- Hold 1 16.7%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
3 analysts · 2026-08-16
Median
$255.00
Mean
$257.00
← Below all targets
$231.25
Low
$254.00
High
$262.00
Median target
$255.00
+10.3%
Mean target
$257.00
+11.1%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.02%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $5.40 | $4.92 | 0.48% |
| March 31, 2026 | $4.74 | $4.49 | 0.25% |
| Dec. 31, 2025 | $3.66 | $4.60 | -0.94% |
| Sept. 30, 2025 | $4.52 | $4.51 | 0.01% |
| June 30, 2025 | $4.32 | $4.33 | -0.01% |
| March 31, 2025 | $4.19 | $4.10 | 0.09% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| AGM | — | 10.6 | 8.9% | 50.8% | 12.7% | — |
| RDN | $4.88B | 8.7 | -0.76% | 48.7% | 12.4% | — |
| PFSI | $6.86B | 14.2 | -25.2% | 2491.9% | 12.0% | — |
| NMIH | $3.11B | 8.3 | 8.5% | 55.0% | 15.5% | — |
| MBIN | — | — | — | — | — | — |
| UWMC | — | 36.5 | 18.2% | 0.87% | 1.6% | — |
| WD | $2.01B | 36.7 | 9.0% | 4.6% | 3.2% | — |
| VEL | $822M | 7.5 | 36.8% | 56.5% | 17.7% | — |
| WSBF | $304M | 11.2 | 4.8% | 18.6% | 7.6% | — |
| ONIT | $390M | 2.1 | 9.3% | 17.8% | 34.2% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SG&A Expense | $45M | $38M | $35M | $30M | $28M | $22M | $20M | $20M | $16M | $15M | $13M | $12M | |
| Interest Expense | · | · | $1.06B | $446M | $204M | $313M | $472M | $370M | $243M | $172M | $139M | $171M | |
| Interest Income | $1.61B | $1.60B | $1.39B | $717M | $426M | $509M | $645M | $544M | $401M | $312M | $265M | $241M | |
| Pretax Income | $256M | $258M | $253M | $226M | $172M | $145M | $139M | $136M | $131M | $119M | $108M | $73M | |
| Income Tax | $48M | $51M | $53M | $48M | $36M | $30M | $29M | $28M | $46M | $42M | $34M | $3M | |
| Net Income | $207M | $207M | $200M | $178M | $136M | $114M | $110M | $108M | $84M | $77M | $69M | $48M | |
| EPS (Basic) | $16.73 | $16.59 | $15.97 | $14.00 | $10.36 | $8.85 | $8.76 | $8.91 | $6.73 | $6.12 | $4.33 | $3.50 | |
| EPS (Diluted) | $16.62 | $16.44 | $15.81 | $13.87 | $10.27 | $8.80 | $8.69 | $8.83 | $6.60 | $5.97 | $4.19 | $3.37 | |
| Shares (Basic) | 10,911,000 | 10,874,000 | 10,829,000 | 10,791,000 | 10,758,000 | 10,728,000 | 10,696,000 | 10,654,000 | 10,594,000 | 10,477,000 | 10,949,000 | 10,920,000 | |
| Shares (Diluted) | 10,983,000 | 10,975,000 | 10,937,000 | 10,883,000 | 10,846,000 | 10,786,000 | 10,778,000 | 10,746,000 | 10,803,000 | 10,746,000 | 11,309,000 | 11,367,000 |
Balance Sheet 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | · | · | $889M | $861M | $909M | $1.03B | $604M | $425M | $302M | $265M | $1.21B | $1.36B | |
| Total Assets | $35.37B | $31.32B | $29.52B | $27.33B | $25.12B | $24.33B | $21.71B | $18.69B | $17.79B | $15.61B | $15.54B | $14.29B | |
| Short-term Debt | · | · | · | · | · | · | $10.02B | $7.76B | $8.09B | $8.44B | $9.11B | $7.35B | |
| Deferred Tax | · | $0 | $0 | · | · | $0 | · | · | · | · | · | · | |
| Total Liabilities | $33.65B | $29.84B | $28.11B | $26.06B | $23.91B | $23.36B | $20.91B | $17.94B | $17.08B | $14.96B | $14.99B | $13.51B | |
| Long-term Debt | $30.82B | $27.52B | $26.59B | $25.00B | $22.76B | $21.80B | $19.09B | $16.24B | $7.43B | $5.22B | $4.97B | $5.47B | |
| Total Debt | $30.82B | $27.52B | $26.59B | $25.00B | $22.76B | $21.80B | $19.10B | · | · | · | $15.95B | $14.50B | |
| Paid-in Capital | $139M | $136M | $133M | $129M | $126M | $123M | $119M | $119M | $119M | $119M | $118M | $114M | |
| Retained Earnings | $1.05B | $943M | $824M | $699M | $589M | $510M | $457M | $393M | $323M | $276M | $231M | $201M | |
| AOCI | $13M | $-12M | $-40M | $-51M | $4M | $-14M | $-16M | $25M | $51M | $34M | $-11M | $16M | |
| Stockholders' Equity | $1.72B | $1.49B | $1.41B | $1.27B | $1.21B | $998M | $799M | $753M | $709M | $644M | $554M | $546M | |
| Liabilities + Equity | $35.37B | $31.32B | $29.52B | $27.33B | $25.12B | $24.36B | $21.71B | $18.69B | $17.79B | $15.61B | $15.54B | $14.29B |
Cash Flow 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $8M | $8M | $7M | $5M | $4M | $4M | $2M | $3M | $3M | $3M | $3M | $3M | |
| Deferred Tax | · | $-516.0K | $7M | $12M | $-2M | $-3M | $789.0K | $3M | $3M | $4M | $4M | $-7M | |
| Operating Cash Flow | $80M | $613M | $376M | $809M | $436M | $-95M | $-20M | $200M | $175M | $213M | $185M | $155M | |
| CapEx | $0 | $5M | $0 | $0 | · | · | · | · | · | · | · | · | |
| Investing Cash Flow | $-3.81B | $-1.68B | $-1.96B | $-3.04B | $-1.10B | $-1.74B | $-2.38B | $-591M | $-1.84B | $-593M | $-1.25B | $-84M | |
| Net Debt Issued | · | $-8.05B | $-7.86B | $-5.19B | $-10.59B | · | · | · | · | · | · | · | |
| Stock Issued | $288.0K | $287.0K | $233.0K | $192.0K | $117.0K | $56.0K | $44.0K | $7.0K | $238.0K | $553.0K | $2M | $244.0K | |
| Stock Repurchased | $13M | $0 | $0 | $0 | $0 | $235.0K | $0 | $0 | · | · | · | · | |
| Net Stock Activity | $-13M | $287.0K | $233.0K | $192.0K | $117.0K | $-179.0K | $44.0K | $7.0K | $238.0K | $553.0K | $2M | $244.0K | |
| Financing Cash Flow | $3.64B | $1.21B | $1.61B | $2.19B | $535M | $2.26B | $2.58B | $515M | $1.70B | $-564M | $912M | $543M | |
| Net Change in Cash | $-93M | $135M | $28M | $-48M | $-125M | $430M | $179M | $123M | $37M | $-945M | $-153M | $614M | |
| Taxes Paid | $0 | $39M | $48M | $34M | $36M | $30M | $23M | $31M | $40M | · | · | · | |
| Free Cash Flow | $80M | $607M | · | · | · | · | · | · | · | · | · | · |
Profitability 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 50.8% | 55.2% | 57.0% | 57.5% | 55.1% | 52.6% | 56.4% | 58.1% | 48.2% | 48.1% | 47.1% | 46.4% | |
| Pretax Margin | 62.6% | 68.8% | 72.1% | 72.9% | 69.8% | 66.5% | 71.4% | 73.1% | 74.6% | 74.2% | 74.1% | 70.5% | |
| ROA | 0.62% | 0.67% | 0.69% | 0.66% | 0.53% | 0.45% | 0.51% | · | · | · | 0.45% | 0.33% | |
| ROE | 12.7% | 14.0% | 14.3% | 14.2% | 11.0% | 11.3% | 14.1% | · | · | · | 12.5% | 10.9% |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 17.9 | 18.5 | 18.8 | 19.7 | 18.9 | 22.0 | 23.9 | · | · | · | 28.8 | 26.6 | |
| LT Debt / Equity | 11.4 | 11.5 | 13.1 | 13.3 | 13.1 | 11.1 | 11.4 | · | · | · | 9.0 | 10.0 |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | · | · | · | 0.0 | 0.0 |
Growth Rates 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 8.9% | 6.8% | 13.4% | 26.4% | 14.5% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 9.7% | 15.2% | 18.0% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 13.8% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 1.1% | 4.0% | 14.0% | 35.0% | 16.7% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 6.2% | 17.0% | 21.6% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 13.6% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 0.11% | 3.6% | 12.3% | 30.9% | 19.0% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 5.2% | 15.0% | 20.5% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 12.6% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $408M | $375M | $351M | $310M | $245M | $214M | $194M | $186M | $175M | $161M | $146M | $104M | |
| Net Income TTM | $207M | $207M | $200M | $178M | $136M | $114M | $110M | $108M | $84M | $77M | $69M | $48M | |
| P/E | 10.6 | 12.0 | 12.1 | 8.1 | 12.1 | 8.4 | 9.6 | 6.8 | 11.9 | 9.6 | 7.5 | 9.0 | |
| Earnings Yield | 9.5% | 8.3% | 8.3% | 12.3% | 8.3% | 11.8% | 10.4% | 14.6% | 8.4% | 10.4% | 13.3% | 11.1% |
Income Statement 10
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SG&A Expense | $12M | $11M | $12M | $11M | $11M | $11M | $12M | $9M | $9M | $8M | $9M | $9M | $9M | $8M | $8M | $7M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $310M | · | $294M | $265M | $236M | · | $126M | |
| Interest Income | $450M | $416M | $416M | $415M | $399M | $381M | $396M | $408M | $404M | $396M | $351M | $382M | $344M | $315M | $268M | $194M | |
| Pretax Income | $82M | $71M | $60M | $67M | $65M | $63M | $68M | $62M | $59M | $68M | $60M | $73M | $59M | $60M | $55M | $52M | |
| Income Tax | $15M | $12M | $13M | $12M | $11M | $13M | $12M | $12M | $12M | $14M | $13M | $15M | $12M | $13M | $12M | $11M | |
| Net Income | $67M | $59M | $48M | $55M | $55M | $50M | $57M | $50M | $47M | $54M | $48M | $58M | $47M | $47M | $43M | $41M | |
| EPS (Basic) | $5.43 | $4.78 | $3.74 | $4.45 | $4.50 | $4.04 | $4.66 | $3.89 | $3.71 | $4.33 | $3.77 | $4.74 | $3.73 | $3.73 | $3.39 | $3.21 | |
| EPS (Diluted) | $5.41 | $4.75 | $3.69 | $4.44 | $4.48 | $4.01 | $4.62 | $3.86 | $3.68 | $4.28 | $3.73 | $4.69 | $3.70 | $3.69 | $3.36 | $3.18 | |
| Shares (Basic) | 10,849,000 | 10,844,000 | -21,852,000 | 10,934,000 | 10,933,000 | 10,896,000 | -21,735,000 | 10,883,000 | 10,879,000 | 10,847,000 | -21,645,000 | 10,839,000 | 10,833,000 | 10,802,000 | -21,571,000 | 10,799,000 | |
| Shares (Diluted) | 10,882,000 | 10,922,000 | -21,935,000 | 10,972,000 | 10,963,000 | 10,983,000 | -21,916,000 | 10,966,000 | 10,956,000 | 10,969,000 | -21,835,000 | 10,938,000 | 10,916,000 | 10,918,000 | -21,742,000 | 10,874,000 |
Balance Sheet 11
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | · | · | · | · | · | · | · | $842M | $923M | $745M | · | $782M | $874M | $865M | · | $868M | |
| Total Assets | $39.29B | $36.73B | $35.37B | $33.38B | $33.00B | $31.80B | $31.32B | $30.62B | $30.19B | $29.77B | $29.52B | $28.31B | $27.66B | $27.94B | $27.33B | $26.44B | |
| Deferred Tax | · | · | · | · | · | $2M | · | $754.0K | $4M | $4M | · | · | · | · | · | · | |
| Total Liabilities | $37.44B | $35.01B | $33.65B | $31.69B | $31.45B | $30.28B | $29.84B | $29.15B | $28.69B | $28.29B | · | $26.93B | $26.31B | $26.65B | · | $25.21B | |
| Long-term Debt | $34.78B | $32.28B | $30.82B | $29.20B | $28.88B | $28.05B | $27.52B | $27.19B | $26.82B | $26.81B | · | $25.60B | $25.00B | $25.25B | · | $24.07B | |
| Total Debt | $34.78B | $32.28B | · | $29.20B | $28.88B | $28.05B | · | $27.19B | $26.82B | $26.81B | · | $25.60B | $25.00B | $25.25B | · | $24.07B | |
| Paid-in Capital | $141M | $139M | $139M | $138M | $136M | $134M | $136M | $135M | $134M | $134M | · | $131M | $130M | $130M | · | $128M | |
| Retained Earnings | $1.12B | $1.07B | $1.05B | $1.04B | $1.00B | $971M | $943M | $908M | $881M | $855M | · | $795M | $755M | $727M | · | $672M | |
| AOCI | $-18M | $-15M | $13M | $-5M | $-18M | $-2M | $-12M | $-3M | $-9M | $-4M | · | $-36M | $-34M | $-60M | · | $-64M | |
| Stockholders' Equity | $1.85B | $1.72B | $1.72B | $1.69B | $1.54B | $1.53B | $1.49B | $1.46B | $1.50B | $1.48B | $1.41B | $1.39B | $1.35B | $1.29B | $1.27B | $1.23B | |
| Liabilities + Equity | $39.29B | $36.73B | $35.37B | $33.38B | $33.00B | $31.80B | $31.32B | $30.62B | $30.19B | $29.77B | · | $28.31B | $27.66B | $27.94B | · | $26.44B |
Cash Flow 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $2M | $3M | $2M | $1M | $2M | $4M | $2M | $1M | $2M | $3M | $2M | $1M | $1M | $2M | $817.0K | $832.0K | |
| Deferred Tax | · | · | · | $-3M | $-2M | $1M | · | $-5M | $1M | $3M | · | $-1M | $-2M | $12M | $-2M | $11M | |
| Operating Cash Flow | $40M | $92M | $103M | $74M | $-48M | $-50M | $368M | $-44M | $56M | $233M | $-167M | $363M | $119M | $61M | $103M | $180M | |
| CapEx | · | · | $0 | $0 | $0 | $0 | $0 | $66.0K | $4M | $2M | $0 | $0 | $0 | $0 | · | · | |
| Investing Cash Flow | $-2.29B | $-1.57B | $-1.90B | $-528M | $-1.04B | $-346M | $-783M | $-266M | $-108M | $-525M | $-675M | $-998M | $179M | $-461M | $-992M | $-629M | |
| Net Debt Issued | · | · | · | · | · | $-2.54B | · | · | · | $-1.71B | · | · | · | $-1.43B | · | · | |
| Stock Issued | $61.0K | $60.0K | $63.0K | $66.0K | $80.0K | $79.0K | $78.0K | $78.0K | $67.0K | $64.0K | $64.0K | $64.0K | $54.0K | $51.0K | $52.0K | $48.0K | |
| Stock Repurchased | $0 | $7M | · | · | $0 | $0 | · | · | · | · | · | · | · | · | · | · | |
| Net Stock Activity | · | $-7M | · | · | · | $79.0K | · | · | · | $64.0K | · | · | · | $51.0K | · | · | |
| Financing Cash Flow | $2.51B | $1.32B | $1.83B | $325M | $1.07B | $420M | $597M | $229M | $230M | $149M | $948M | $543M | $-288M | $404M | $882M | $407M | |
| Net Change in Cash | $264M | $-157M | $30M | $-129M | $-18M | $24M | $182M | $-81M | $178M | $-144M | $106M | $-92M | $9M | $4M | $-7M | $-41M | |
| Free Cash Flow | · | · | · | · | · | $-50M | · | · | · | $232M | · | · | · | · | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-12M | · | · | · | · | · | · |
Profitability 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 53.6% | 54.2% | · | 52.9% | 53.4% | 52.6% | · | 55.1% | 52.4% | 57.4% | · | 59.8% | 55.8% | 55.7% | · | 57.5% | |
| Pretax Margin | 65.5% | 65.5% | · | 64.1% | 63.7% | 66.9% | · | 68.8% | 65.9% | 72.9% | · | 75.4% | 70.1% | 71.3% | · | 72.2% | |
| ROA | 0.19% | 0.17% | · | 0.17% | 0.17% | 0.16% | · | 0.17% | 0.16% | 0.19% | · | 0.21% | 0.18% | 0.18% | · | 0.16% | |
| ROE | 3.9% | 3.6% | · | 3.5% | 3.6% | 3.3% | · | 3.5% | 3.3% | 3.9% | · | 4.4% | 3.7% | 3.8% | · | 3.4% |
Liquidity & Solvency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 18.8 | 18.8 | · | 17.3 | 18.7 | 18.4 | · | 18.6 | 17.9 | 18.1 | · | 18.5 | 18.6 | 19.5 | · | 19.5 | |
| LT Debt / Equity | 11.8 | 12.1 | · | 11.3 | 12.0 | 11.8 | · | 11.8 | 11.8 | 12.1 | · | 12.7 | 12.4 | 13.0 | · | 13.5 |
Efficiency 1
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 |
Valuation (TTM) 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $441M | $410M | · | $391M | $377M | $368M | · | $371M | $365M | $360M | · | $338M | $313M | $315M | · | $293M | |
| Net Income TTM | $236M | $219M | · | $209M | $201M | $200M | · | $209M | $206M | $206M | · | $194M | $178M | $182M | · | $170M | |
| P/E | 10.4 | 8.4 | · | 10.0 | 12.1 | 11.8 | · | 11.4 | 11.1 | 12.0 | · | 10.1 | 10.4 | 9.4 | · | 7.5 | |
| Earnings Yield | 9.6% | 11.9% | · | 10.0% | 8.2% | 8.4% | · | 8.8% | 9.0% | 8.3% | · | 9.9% | 9.6% | 10.7% | · | 13.2% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | |
|---|---|---|---|---|---|
| Net Income | $207M | — | — | $207M | — |
| Diluted EPS | $16.62 | — | — | $16.44 | — |
Balance Sheet
| 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | |
|---|---|---|---|---|---|
| Debt / Equity | 17.9 | — | — | 18.5 | — |
Cash Flow
| 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | |
|---|---|---|---|---|---|
| Free Cash Flow | $80M | — | — | $607M | — |
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Institutional owners (13F) 278 filers · $1.1B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 48 (+13 vs prior Q) | 18 (-17 vs prior Q) | 100 (+17 vs prior Q) | 64 (-9 vs prior Q) | +599K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| DIMENSIONAL FUND ADVISORS LP | $84,097,719 | 422,029 | 7.75% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $79,025,899 | 396,577 | 7.28% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $70,190,267 | 352,237 | 6.46% | Shares |
| AMERICAN CENTURY COMPANIES INC | $69,571,534 | 349,132 | 6.41% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $65,254,441 | 327,467 | 6.01% | Shares |
| Capital World Investors | $56,493,444 | 283,502 | 5.20% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $53,958,131 | 270,779 | 4.97% | Shares |
| Copeland Capital Management, LLC | $45,794,906 | 229,813 | 4.22% | Shares |
| STATE STREET CORP | $45,528,413 | 228,476 | 4.19% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $41,907,278 | 210,304 | 3.86% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $41,617,590 | 208,802 | 3.83% | Shares |
| LOOMIS SAYLES & CO L P | $40,140,750 | 201,439 | 3.70% | Shares |
| RAYMOND JAMES FINANCIAL INC | $23,663,823 | 118,753 | 2.18% | Shares |
| RICE HALL JAMES & ASSOCIATES, LLC | $23,532,591 | 118,094 | 2.17% | Shares |
| WEYBOSSET RESEARCH & MANAGEMENT LLC | $20,764,532 | 104,203 | 1.91% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $16,235,723 | 81,476 | 1.50% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $14,950,354 | 75,026 | 1.38% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $11,838,830 | 59,411 | 1.09% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $11,444,076 | 57,430 | 1.05% | Shares |
| Bank of New York Mellon Corp | $8,364,159 | 41,974 | 0.77% | Shares |
| Man Group plc | $8,295,411 | 41,629 | 0.76% | Shares |
| BARCLAYS PLC | $8,104,710 | 40,672 | 0.75% | Shares |
| ProShare Advisors LLC | $7,570,267 | 37,990 | 0.70% | Shares |
| HEARTLAND ADVISORS INC | $7,518,059 | 37,728 | 0.69% | Shares |
| Ballast Asset Management, LP | $7,418,025 | 37,226 | 0.68% | Shares |
| GOLDMAN SACHS GROUP INC | $7,158,177 | 35,922 | 0.66% | Shares |
| Empirical Finance, LLC | $7,061,332 | 35,436 | 0.65% | Shares |
| Foundry Partners, LLC | $7,009,124 | 37,380 | 0.65% | Shares |
| Barnett & Company, Inc. | $6,939,179 | 34,823 | 0.64% | Shares |
| Nuveen, LLC | $6,104,836 | 30,636 | 0.56% | Shares |
| FIRST WILSHIRE SECURITIES MANAGEMENT INC | $5,344,421 | 26,820 | 0.49% | Shares |
| UBS Group AG | $4,848,438 | 24,331 | 0.45% | Shares |
| FIRST TRUST ADVISORS LP | $4,790,450 | 24,040 | 0.44% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $4,782,480 | 24,000 | 0.44% | Shares |
| XTX Topco Ltd | $4,775,705 | 23,966 | 0.44% | Shares |
| HUNTINGTON BANCSHARES INC /MD/ | $4,563,896 | 23,472 | 0.42% | Shares |
| MARSHALL WACE, LLP | $4,241,263 | 21,284 | 0.39% | Shares |
| D. E. Shaw & Co., Inc. | $4,167,931 | 20,916 | 0.38% | Shares |
| BlackRock, Inc. | $4,005,925 | 20,103 | 0.37% | Shares |
| Baird Financial Group, Inc. | $3,816,020 | 19,150 | 0.35% | Shares |
| Pullen Investment Management, LLC | $3,784,934 | 18,994 | 0.35% | Shares |
| Swiss National Bank | $3,722,563 | 18,681 | 0.34% | Shares |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $3,679,521 | 18,465 | 0.34% | Shares |
| Global Alpha Capital Management Ltd. | $3,659,992 | 18,367 | 0.34% | Shares |
| VELA Investment Management, LLC | $3,448,965 | 17,308 | 0.32% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $3,361,087 | 16,867 | 0.31% | Shares |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC | $3,303,100 | 16,576 | 0.30% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $3,295,129 | 16,536 | 0.30% | Shares |
| Balyasny Asset Management L.P. | $3,252,086 | 16,320 | 0.30% | Shares |
| Militia Capital Management LLC | $3,188,320 | 16,000 | 0.29% | Shares |
| BANK OF AMERICA CORP /DE/ | $3,141,891 | 15,767 | 0.29% | Shares |
| LPL Financial LLC | $3,130,712 | 15,711 | 0.29% | Shares |
| WELLS FARGO & COMPANY/MN | $3,117,096 | 15,643 | 0.29% | Shares |
| DEUTSCHE BANK AG\ | $3,114,989 | 15,632 | 0.29% | Shares |
| CITADEL ADVISORS LLC | $3,048,831 | 15,300 | 0.28% | Call option |
| BANK OF MONTREAL /CAN/ | $2,989,050 | 15,000 | 0.28% | Shares |
| RHUMBLINE ADVISERS | $2,853,933 | 14,322 | 0.26% | Shares |
| Militia Capital Partners, LP | $2,809,120 | 16,000 | 0.26% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $2,749,926 | 13,800 | 0.25% | Call option |
| Sequoia Financial Advisors, LLC | $2,596,090 | 13,028 | 0.24% | Shares |
| SEI INVESTMENTS CO | $2,542,287 | 12,758 | 0.23% | Shares |
| CITADEL ADVISORS LLC | $2,311,532 | 11,600 | 0.21% | Put option |
| DEAN INVESTMENT ASSOCIATES, LLC | $2,281,442 | 11,449 | 0.21% | Shares |
| Matthew 25 Management Corp | $2,191,970 | 11,000 | 0.20% | Shares |
| Cruiser Capital Advisors, LLC | $2,188,184 | 10,981 | 0.20% | Shares |
| HighTower Advisors, LLC | $2,082,571 | 10,451 | 0.19% | Shares |
| D. E. Shaw & Co., Inc. | $1,793,430 | 9,000 | 0.17% | Call option |
| Qube Research & Technologies Ltd | $1,787,651 | 8,971 | 0.16% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $1,766,403 | 11,907 | 0.16% | Shares |
| Dean Capital Management | $1,655,137 | 8,306 | 0.15% | Shares |
| ALLIANCEBERNSTEIN L.P. | $1,647,427 | 11,105 | 0.15% | Shares |
| Applied Capital LLC/FL | $1,638,199 | 8,221 | 0.15% | Shares |
| Mirae Asset Global Investments Co., Ltd. | $1,551,516 | 7,786 | 0.14% | Shares |
| Boston Partners | $1,362,896 | 6,838 | 0.13% | Shares |
| Verdence Capital Advisors LLC | $1,349,449 | 6,772 | 0.12% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,315,182 | 6,600 | 0.12% | Put option |
| Vanguard Global Advisers, LLC | $1,251,416 | 6,280 | 0.12% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $1,244,441 | 6,245 | 0.11% | Shares |
| HSBC HOLDINGS PLC | $1,134,028 | 5,656 | 0.10% | Shares |
| HUDSON EDGE INVESTMENT PARTNERS INC. | $1,125,676 | 5,649 | 0.10% | Shares |
| Quantinno Capital Management LP | $1,113,420 | 5,587 | 0.10% | Shares |
| MetLife Investment Management, LLC | $1,094,391 | 5,492 | 0.10% | Shares |
| Cetera Investment Advisers | $1,088,541 | 5,462 | 0.10% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $1,054,338 | 5,291 | 0.10% | Shares |
| PEAK6 LLC | $1,036,204 | 5,200 | 0.10% | Put option |
| DARK FOREST CAPITAL MANAGEMENT LP | $1,024,447 | 5,141 | 0.09% | Shares |
| PRUDENTIAL FINANCIAL INC | $974,829 | 4,892 | 0.09% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $968,452 | 4,860 | 0.09% | Shares |
| D. E. Shaw & Co., Inc. | $936,569 | 4,700 | 0.09% | Put option |
| Sanctuary Advisors, LLC | $929,013 | 4,662 | 0.09% | Shares |
| IMC-Chicago, LLC | $912,059 | 4,577 | 0.08% | Shares |
| JAMES INVESTMENT RESEARCH, INC. | $910,066 | 4,567 | 0.08% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $865,031 | 4,341 | 0.08% | Shares |
| Legato Capital Management LLC | $863,038 | 4,331 | 0.08% | Shares |
| Global Retirement Partners, LLC | $848,191 | 4,256 | 0.08% | Shares |
| INVESTORS ASSET MANAGEMENT OF GEORGIA INC /GA/ /ADV | $813,105 | 4,080 | 0.07% | Shares |
| KESTRA PRIVATE WEALTH SERVICES, LLC | $800,387 | 4,017 | 0.07% | Shares |
| &PARTNERS | $770,088 | 3,865 | 0.07% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $767,588 | 3,852 | 0.07% | Shares |
| Invesco Ltd. | $749,853 | 3,763 | 0.07% | Shares |
Company insiders 73 insiders · 20 officers · 39 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Timothy L Buzby | President and CEO | Oct. 10, 2017 S | 38,723 | 0 | 0 | $0 |
| Matthew M Pullins | EVP - CFO and Treasurer | March 5, 2026 A | 3,476 | 0 | 0 | $0 |
| Aparna Ramesh | EVP - Chief Financial Officer | June 11, 2025 M | 10,799 | 0 | 0 | $0 |
| Robert Dale Lynch | EVP - Chief Financial Officer | March 31, 2019 F | 23,872 | 0 | 0 | $0 |
| Nancy E Corsiglia | Executive Vice President & CFO | June 5, 2008 A | 2,726 | 0 | 0 | $0 |
| Zachary Carpenter | President and COO | March 5, 2026 A | 12,811 | 0 | 1 | $-60,091 |
| Henry D Edelman | President | Sept. 9, 2008 M | 0 | 0 | 0 | $0 |
| Tom D Stenson | Chief Operating Officer | May 20, 2015 M | 23,662 | 0 | 0 | $0 |
| Geraldine I Hayhurst | EVP - Chief Legal Officer | March 5, 2026 A | 1,103 | 0 | 0 | $0 |
| Gregory Ramsey | Principal Accounting Officer | March 5, 2026 A | 3,556 | 0 | 1 | $-310,065 |
| Stephen P Mullery | EVP - General Counsel | Aug. 21, 2025 A | 19,442 | 0 | 0 | $0 |
| Sean Datcher | SVP- Chief Information Officer | March 31, 2025 F | 1,341 | 0 | 0 | $0 |
| Kerry T Willie | SVP - Chief HR Officer | March 31, 2025 F | 2,909 | 0 | 0 | $0 |
| Marc J Crady | SVP - Chief Credit Officer | March 31, 2025 F | 3,621 | 0 | 0 | $0 |
| Robert J Maines | SVP - Operations | March 31, 2025 F | 3,306 | 0 | 0 | $0 |
| John Curtis Covington | EVP - Chief Credit Officer | Feb. 14, 2020 A | 16,398 | 0 | 0 | $0 |
| Charles D Grote | SVP Finance and Investor Rel | April 15, 2019 F | 4,721 | 0 | 0 | $0 |
| Carla A Leibold | Principal Accounting Officer | April 22, 2013 A | 1,000 | 0 | 0 | $0 |
| Mary K Waters | VP - Corporate Relations | June 4, 2009 A | 7,500 | 0 | 0 | $0 |
| Paul N Peiffer | VP-Agricultural Credit | Oct. 8, 2007 M | 0 | 0 | 0 | $0 |
| Eric T Mckissack | Director | June 30, 2026 A | 2,895 | 0 | 0 | $0 |
| Amy H Gales | Director | June 30, 2026 A | 6,080 | 0 | 0 | $0 |
| Todd P Ware | Director | June 30, 2026 A | 4,495 | 0 | 0 | $0 |
| Robert G Sexton | Director | June 30, 2026 A | 14,268 | 0 | 0 | $0 |
| James R Engebretsen | Director | June 30, 2026 A | 16,845 | 0 | 0 | $0 |
| Lyle Logan | Director | June 30, 2026 A | 432 | 0 | 0 | $0 |
| Lowell Junkins | Director | June 30, 2026 A | 10,934 | 0 | 0 | $0 |
| Jeffrey L. Plagge | Director | March 5, 2026 A | 1,290 | 0 | 0 | $0 |
| Kevin G. Riel | Director | March 5, 2026 A | 1,152 | 0 | 0 | $0 |
| Charles A Stones | Director | March 5, 2026 A | 2,441 | 0 | 0 | $0 |
| Lajuana S Wilcher | Director | March 5, 2026 A | 3,567 | 0 | 0 | $0 |
| Shaw L Daniel | Director | March 5, 2026 A | 1,858 | 0 | 0 | $0 |
| Sara Louise Faivre-Davis | Director | March 5, 2026 A | 2,222 | 0 | 0 | $0 |
| Richard H Davidson | Director | March 5, 2026 A | 14,649 | 0 | 0 | $0 |
| Mitchell A Johnson | Director | March 5, 2026 A | 8,579 | 0 | 0 | $0 |
| Chester J Culver | Director | June 30, 2025 A | 2,437 | 0 | 0 | $0 |
| Roy H Tiarks | Director | March 5, 2024 A | 1,827 | 0 | 0 | $0 |
| Dennis L Brack | Director | March 5, 2024 A | 8,321 | 0 | 0 | $0 |
| Everett M Dobrinski | Director | Dec. 29, 2023 P | 7,300 | 0 | 0 | $0 |
| David W Hemingway | Director | May 12, 2020 A | 769 | 0 | 0 | $0 |
| Thomas William Hill | Director | March 3, 2020 A | 6,533 | 0 | 0 | $0 |
| Clark Maxwell | Director | March 3, 2020 A | 29,126 | 0 | 0 | $0 |
| Keri L Votruba | Director | Feb. 27, 2019 A | 1,204 | 0 | 0 | $0 |
| Douglas E Wilhelm | Director | Feb. 27, 2019 A | 10,905 | 0 | 0 | $0 |
| Dennis A Everson | Director | Feb. 27, 2019 A | 1,441 | 0 | 0 | $0 |
| Douglas Felton | Director | March 13, 2018 A | 2,679 | 0 | 0 | $0 |
| Douglas Flory | Director | March 13, 2018 A | 4,634 | 0 | 0 | $0 |
| James B. Mcelroy | Director | March 15, 2016 A | 6,979 | 0 | 0 | $0 |
| John Dan Raines JR | Director | April 2, 2014 A | 3,956 | 0 | 0 | $0 |
| Ernest M Hodges | Director | April 5, 2012 G | 0 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 3 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| National Rural Utilities Cooperative Finance Corporation | Dec. 30, 2014 | — | Initial filing | — | SEC |
| AgriBank, FCB. | March 5, 2013 | — | Initial filing | — | SEC |
| CoBank, ACB, CoBank, FCB, Farm Credit Bank of Texas | Feb. 25, 2013 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 60 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| ORR · EA Series Trust | 1.81% | 37,380 NS | May 29, 2026 | N-PORT |
| PEY · Invesco Exchange-Traded Fund Trust | 1.67% | 82,817 SH | Aug. 8, 2026 | Daily |
| SMDV · ProShares Trust | 1.05% | 38,772 NS | May 31, 2026 | N-PORT |
| EBIT · Harbor ETF Trust | 0.38% | 251 NS | April 30, 2026 | N-PORT |
| ABCS · EA Series Trust | 0.34% | 217 NS | May 29, 2026 | N-PORT |
| FYC · First Trust Exchange-Traded AlphaDE… | 0.26% | 15,744 NS | April 30, 2026 | N-PORT |
| AVUV · AMERICAN CENTURY ETF TRUST | 0.19% | 285,293 NS | May 31, 2026 | N-PORT |
| IWN · iShares Trust | 0.13% | 78,094 SH | Aug. 8, 2026 | Daily |
| NUSC · Nushares ETF Trust | 0.13% | 9,251 NS | April 30, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.11% | 7,283 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.10% | 15,656 NS | May 31, 2026 | N-PORT |
| GSSC · Goldman Sachs ETF Trust | 0.10% | 5,267 NS | May 31, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.09% | 11,591 SH | Aug. 8, 2026 | Daily |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.08% | 3,309 NS | April 30, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.07% | 56,863 NS | April 30, 2026 | N-PORT |
| IWM · iShares Trust | 0.07% | 244,856 SH | Aug. 8, 2026 | Daily |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.07% | 2,368 NS | April 30, 2026 | N-PORT |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.07% | 4,671 NS | April 30, 2026 | N-PORT |
| ISCV · iShares Trust | 0.06% | 1,871 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.06% | 54,269 SH | Aug. 8, 2026 | Daily |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.05% | 1,467 NS | April 30, 2026 | N-PORT |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.05% | 612 SH | Aug. 8, 2026 | Daily |
| VFVA · VANGUARD WELLINGTON FUND | 0.05% | 2,136 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.05% | 4,052 NS | April 30, 2026 | N-PORT |
| FNDA · SCHWAB STRATEGIC TRUST | 0.05% | 22,878 NS | May 31, 2026 | N-PORT |
| SCHD · SCHWAB STRATEGIC TRUST | 0.04% | 222,983 NS | May 31, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.04% | 440 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.04% | 33,124 NS | April 30, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.04% | 47,585 NS | May 31, 2026 | N-PORT |
| ISCB · iShares Trust | 0.04% | 448 SH | Aug. 8, 2026 | Daily |
| UWM · ProShares Trust | 0.02% | 344 NS | May 31, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.02% | 556 NS | April 30, 2026 | N-PORT |
| DFSV · Dimensional ETF Trust | 0.02% | 10,055 NS | April 30, 2026 | N-PORT |
| JSTC · Tidal Trust I | 0.02% | 404 NS | May 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.02% | 591 SH | Aug. 8, 2026 | Daily |
| FNCL · FIDELITY COVINGTON TRUST | 0.02% | 2,572 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.02% | 106,574 SH | Aug. 8, 2026 | Daily |
| VFH · VANGUARD WORLD FUND | 0.02% | 15,203 SH | Aug. 8, 2026 | Daily |
| URTY · ProShares Trust | 0.02% | 346 NS | May 31, 2026 | N-PORT |
| IWO · iShares Trust | 0.02% | 10,474 SH | Aug. 8, 2026 | Daily |
| EBI · RBB Fund Trust | 0.02% | 609 NS | May 31, 2026 | N-PORT |
| AVSU · AMERICAN CENTURY ETF TRUST | 0.01% | 384 NS | May 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.01% | 1,694 NS | April 30, 2026 | N-PORT |
| DFUV · Dimensional ETF Trust | 0.01% | 8,728 NS | April 30, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.01% | 1,219 NS | April 30, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.01% | 1,127 SH | Aug. 8, 2026 | Daily |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.01% | 6,982 NS | May 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.01% | 22,557 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 364 NS | May 31, 2026 | N-PORT |
| PFM · Invesco Exchange-Traded Fund Trust | 0.01% | 265 SH | Aug. 8, 2026 | Daily |