ALHC Alignment Healthcare, Inc. - Common Stock
$13.47
Price · Aug 24, 2026
Fundamentals as of Jul 30, 2026
52W Range
$13–$25
6% of range
Analyst Rating
STRONG BUY
20 analysts
Price Target
$24
+79% upside
P/E (TTM)
—
ROE
-0.52%
Net Profit Margin
-0.02%
ALHC Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$13.46
Market Cap
$2.78B
P/E (TTM)
—
EPS (TTM)
$0.00
Revenue (TTM)
$3.95B
Div Yield
—
ROE
-0.52%
Debt/Equity
1.8
52W Range
$13 – $25
ALHC 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
$3.95B
2019-12-31
→
2025-12-31
EPS
$0.00
2020-12-31
→
2025-12-31
Free Cash Flow
$113M
2024-12-31
→
2025-12-31
Margins
-0.02%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
ALHC
Peer Median
P/S (TTM)
0.7
0.9
P/B
15.5
3.5
EV / EBITDA
55.4
—
Price / FCF
24.6
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
ALHC
Peer Median
Operating Margin
0.37%
—
Net Profit Margin
-0.02%
0.89%
ROA
-0.08%
3.5%
ROE
-0.52%
10.1%
ROIC
3.0%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
ALHC
Peer Median
Debt / Equity
1.8
—
Current Ratio
1.7
1.6
Quick Ratio
1.5
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
ALHC
Peer Median
Revenue YoY
46.1%
—
Revenue CAGR 3Y
40.2%
—
Revenue CAGR 5Y
32.7%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
ALHC
Peer Median
ALHC Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
20 analysts
- Strong Buy 9 45.0%
- Buy 8 40.0%
- Hold 3 15.0%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
13 analysts · 2026-08-19
Median
$25.00
← Below all targets
$13.46
Low
$16.00
High
$30.00
Median target
$25.00
+85.7%
Mean target
$24.08
+78.8%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.09%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.17 | $0.13 | 0.04% |
| March 31, 2026 | $0.05 | $0.01 | 0.04% |
| Dec. 31, 2025 | $-0.05 | $-0.16 | 0.11% |
| Sept. 30, 2025 | $0.02 | $-0.08 | 0.10% |
| June 30, 2025 | $0.07 | $-0.07 | 0.14% |
| March 31, 2025 | $-0.05 | $-0.13 | 0.08% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue | $3.95B | $2.70B | $1.82B | $1.43B | $1.17B | $959M | |
| SG&A Expense | $443M | $371M | $307M | $296M | $291M | $156M | |
| Operating Expenses | $3.93B | $2.81B | $1.95B | $1.56B | $1.35B | $964M | |
| Operating Income | $15M | $-102M | $-128M | $-129M | $-178M | $-5M | |
| Interest Expense | · | · | $21M | $18M | $17M | $17M | |
| Other Non-op | $89.0K | $72.0K | $853.0K | $-176.0K | $-17M | $-18M | |
| Pretax Income | $-958.0K | $-128M | $-148M | $-149M | $-195M | $-23M | |
| Income Tax | $20.0K | $21.0K | $-22.0K | $339.0K | $0 | $0 | |
| Net Income | $-724.0K | $-128M | $-148M | $-150M | $-195M | $-23M | |
| EPS (Basic) | $0.00 | $-0.67 | $-0.79 | $-0.83 | $-1.14 | $-0.15 | |
| EPS (Diluted) | $0.00 | $-0.67 | $-0.79 | $-0.83 | $-1.14 | $-0.15 | |
| Shares (Basic) | 198,006,216 | 190,793,552 | 186,214,784 | 181,212,757 | 181,917,964 | · | |
| Shares (Diluted) | 198,006,216 | 190,793,552 | 186,214,784 | 181,212,757 | 181,917,964 | 0 | |
| EBITDA | $45M | $-75M | $-106M | $-111M | $-162M | · |
Balance Sheet 24
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $576M | $433M | $203M | $410M | $467M | $207M | |
| Short-term Investments | $28M | $38M | $116M | $0 | · | · | |
| Receivables | $253M | $154M | $120M | $93M | $59M | $40M | |
| Prepaid Expense | $94M | $37M | $45M | $42M | $28M | $17M | |
| Current Assets | $952M | $662M | $484M | $545M | $553M | $265M | |
| PP&E (Net) | $64M | $67M | $52M | $37M | $30M | $27M | |
| PP&E (Gross) | $243M | $217M | $176M | $142M | $119M | $100M | |
| Accum. Depreciation | $179M | $149M | $124M | $105M | $88M | $73M | |
| Goodwill | $32M | $35M | $35M | $35M | $29M | $29M | |
| Intangibles | $5M | $5M | $5M | $5M | $35M | $35M | |
| Other Non-current Assets | $6M | $6M | $6M | $6M | $5M | $2M | |
| Total Assets | $1.07B | $782M | $592M | $634M | $631M | $339M | |
| Accounts Payable | $33M | $22M | $24M | $32M | $17M | $16M | |
| Current Liabilities | $557M | $352M | $263M | $230M | $167M | $153M | |
| Capital Leases | $6M | $8M | $9M | $4M | $7M | $10M | |
| Total Liabilities | $887M | $681M | $434M | $395M | $325M | $308M | |
| Long-term Debt | $323M | $321M | $162M | $161M | $151M | $144M | |
| Total Debt | $323M | $321M | $162M | $161M | $151M | · | |
| Common Stock | $205.0K | $192.0K | $189.0K | $187.0K | $187.0K | $164.0K | |
| Paid-in Capital | $1.19B | $1.11B | $1.04B | $970M | $889M | $410M | |
| Retained Earnings | $-1.01B | $-1.01B | $-880M | $-732M | $-583M | $-380M | |
| Stockholders' Equity | $179M | $100M | $157M | $238M | $306M | $31M | |
| Liabilities + Equity | $1.07B | $782M | $592M | $634M | $631M | $339M | |
| Shares Outstanding | 204,153,619 | 191,778,639 | 188,951,643 | 187,280,015 | 187,193,613 | 164,063,787 |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| D&A | $30M | $27M | $21M | $17M | $16M | $15M | |
| Stock-based Comp | $62M | $71M | $67M | $82M | $621.0K | $446.0K | |
| Amort. of Intangibles | $634.0K | $702.0K | $226.0K | $386.0K | $362.0K | $327.0K | |
| Other Non-cash | $48M | $65M | $67M | $87M | $100M | · | |
| Operating Cash Flow | $140M | $35M | $-59M | $-45M | $-79M | $8M | |
| CapEx | $27M | $41M | $36M | $24M | · | · | |
| Investing Cash Flow | $-15M | $39M | $-147M | $-28M | $-21M | $-16M | |
| Debt Issued | $0 | $380M | $0 | $165M | $0 | $0 | |
| Net Debt Issued | $0 | $165M | $0 | $22M | $0 | · | |
| Stock Issued | · | · | $0 | $0 | $391M | $135M | |
| Net Stock Activity | · | · | $0 | $0 | $391M | · | |
| Financing Cash Flow | $18M | $156M | $105.0K | $17M | $360M | $130M | |
| Net Change in Cash | $143M | $230M | $-206M | $-57M | · | · | |
| Taxes Paid | $25.0K | $20.0K | $205.0K | · | · | · | |
| Free Cash Flow | $113M | $-7M | · | · | · | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Operating Margin | 0.37% | -3.8% | -7.0% | -9.0% | -15.2% | · | |
| Net Margin | -0.02% | -4.7% | -8.1% | -10.4% | -16.7% | · | |
| Pretax Margin | -0.02% | -4.7% | -8.1% | -10.4% | -16.7% | · | |
| EBITDA Margin | 1.1% | -2.8% | -5.8% | -7.8% | -13.9% | · | |
| ROA | -0.08% | -18.6% | -24.1% | -23.6% | -40.3% | · | |
| ROE | -0.52% | -99.7% | -74.9% | -55.0% | -116.0% | · | |
| ROIC | 3.0% | -24.1% | -40.1% | -32.3% | -39.0% | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 1.7 | 1.9 | 1.8 | 2.4 | 3.3 | · | |
| Quick Ratio | 1.5 | 1.8 | 1.7 | 2.2 | 3.1 | · | |
| Debt / Equity | 1.8 | 3.2 | 1.0 | 0.7 | 0.5 | · | |
| LT Debt / Equity | 1.8 | 3.2 | 1.0 | 0.7 | 0.5 | · | |
| Interest Coverage | · | · | -6.0 | -7.0 | -10.2 | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | 4.3 | 3.9 | 3.0 | 2.3 | 2.4 | · | |
| Receivables Turnover | 19.4 | 19.8 | 17.2 | 18.9 | 23.7 | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue YoY | 46.1% | 48.2% | 27.2% | 22.8% | 21.7% | · | |
| Revenue CAGR 3Y | 40.2% | 32.3% | 23.9% | · | · | · | |
| Revenue CAGR 5Y | 32.7% | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue TTM | $3.95B | $2.70B | $1.82B | $1.43B | $1.17B | · | |
| Net Income TTM | $-724.0K | $-128M | $-148M | $-150M | $-195M | · | |
| Market Cap | $4.03B | $2.16B | $1.63B | $2.20B | $2.63B | · | |
| Enterprise Value | $3.75B | $2.01B | $1.47B | $1.95B | $2.32B | · | |
| P/E | · | -16.8 | -10.9 | -14.2 | -12.3 | · | |
| P/S | 1.0 | 0.8 | 0.9 | 1.5 | 2.3 | · | |
| P/B | 22.5 | 21.6 | 10.4 | 9.2 | 8.6 | · | |
| P / Tangible Book | 28.3 | 35.7 | 13.9 | 11.1 | 10.9 | · | |
| P / Cash Flow | 28.8 | 62.1 | -27.5 | -48.5 | -33.4 | · | |
| P / FCF | 35.6 | -324.5 | · | · | · | · | |
| EV / EBITDA | 83.1 | -26.9 | -13.8 | -17.5 | -14.3 | · | |
| EV / FCF | 33.2 | -302.1 | · | · | · | · | |
| EV / Revenue | 0.9 | 0.7 | 0.8 | 1.4 | 2.0 | · | |
| Earnings Yield | 0.00% | -6.0% | -9.2% | -7.1% | -8.1% | · |
Income Statement 14
| 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 | $1.34B | $1.24B | $1.01B | $994M | $1.02B | $927M | $701M | $692M | $681M | $629M | $465M | $457M | $462M | $439M | $362M | $360M | |
| SG&A Expense | $131M | $121M | $126M | $110M | $104M | $104M | $102M | $91M | $88M | $91M | $84M | $83M | $70M | $70M | $83M | $76M | |
| Operating Expenses | $1.29B | $1.22B | $1.02B | $986M | $993M | $932M | $724M | $712M | $700M | $670M | $507M | $486M | $486M | $472M | $414M | $394M | |
| Operating Income | $42M | $16M | $-10M | $8M | $23M | $-5M | $-23M | $-20M | $-18M | $-41M | $-42M | $-30M | $-24M | $-32M | $-52M | $-33M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $5M | · | $5M | $5M | $5M | · | $5M | |
| Other Non-op | $1.0K | $0 | $0 | $0 | $79.0K | $10.0K | $0 | $22.0K | $92.0K | $-42.0K | $5M | $145.0K | $428.0K | $-5M | $16M | $-7M | |
| Pretax Income | $38M | $11M | $-14M | $4M | $19M | $-9M | $-31M | $-26M | $-24M | $-47M | $-47M | $-35M | $-28M | $-37M | $-57M | $-40M | |
| Income Tax | $1M | $25.0K | $-3M | $2.0K | $3M | $21.0K | $7.0K | $-8.0K | $22.0K | $0 | $-24.0K | $0 | $1.0K | $1.0K | $172.0K | $167.0K | |
| Net Income | $37M | $11M | $-11M | $4M | $16M | $-9M | $-31M | $-26M | $-24M | $-47M | $-47M | $-35M | $-28M | $-37M | $-57M | $-40M | |
| EPS (Basic) | $0.18 | $0.06 | $-0.05 | $0.02 | $0.08 | $-0.05 | $-0.15 | $-0.14 | $-0.13 | $-0.25 | $-0.25 | $-0.19 | $-0.15 | $-0.20 | $-0.32 | $-0.22 | |
| EPS (Diluted) | $0.17 | $0.05 | $-0.04 | $0.02 | $0.07 | $-0.05 | $-0.15 | $-0.14 | $-0.13 | $-0.25 | $-0.25 | $-0.19 | $-0.15 | $-0.20 | $-0.32 | $-0.22 | |
| Shares (Basic) | 207,448,894 | 205,356,397 | -392,955,643 | 199,026,808 | 198,328,613 | 193,606,438 | -380,464,912 | 191,361,283 | 190,891,787 | 189,005,394 | -370,218,939 | 187,328,318 | 185,991,460 | 183,113,945 | -6,003,361 | 187,267,619 | |
| Shares (Diluted) | 215,024,483 | 213,128,231 | -414,047,831 | 208,927,980 | 209,519,629 | 193,606,438 | -380,464,912 | 191,361,283 | 190,891,787 | 189,005,394 | -370,218,939 | 187,328,318 | 185,991,460 | 183,113,945 | -6,003,361 | 187,267,619 | |
| EBITDA | $50M | $23M | · | $16M | $30M | $2M | · | $-12M | $-12M | $-35M | · | $-24M | $-18M | $-28M | · | $-29M |
Balance Sheet 24
| 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 | $693M | $706M | $576M | $618M | $470M | $446M | $433M | $340M | $339M | $239M | $203M | $392M | $395M | $384M | $410M | $567M | |
| Short-term Investments | $8M | $21M | $28M | $26M | $34M | $33M | $38M | $41M | $25M | $63M | · | $124M | $122M | $103M | · | · | |
| Receivables | $297M | $278M | $253M | $220M | $283M | $214M | $154M | $139M | $183M | $165M | · | $106M | $89M | $125M | · | $88M | |
| Prepaid Expense | $162M | $141M | $94M | $121M | $93M | $81M | $37M | $54M | $52M | $54M | · | $46M | $77M | $58M | · | $36M | |
| Current Assets | $1.16B | $1.15B | $952M | $985M | $880M | $774M | $662M | $574M | $599M | $521M | · | $667M | $684M | $671M | · | $692M | |
| PP&E (Net) | $66M | $64M | $64M | $67M | $70M | $69M | $67M | $65M | $62M | $57M | · | $47M | $43M | $40M | · | $36M | |
| PP&E (Gross) | $261M | $251M | $243M | $238M | $233M | $225M | $217M | $207M | $199M | $187M | · | $167M | $158M | $150M | · | $136M | |
| Accum. Depreciation | $195M | $187M | $179M | $171M | $163M | $156M | $149M | $143M | $136M | $130M | · | $120M | $115M | $110M | · | $101M | |
| Goodwill | $32M | $32M | $32M | $32M | $32M | $34M | $35M | $35M | $35M | $35M | · | $35M | $35M | $35M | · | $32M | |
| Intangibles | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | · | $40M | $40M | $40M | · | $38M | |
| Other Non-current Assets | $8M | $9M | $6M | $6M | $6M | $6M | $6M | $6M | $7M | $7M | · | $6M | $6M | $6M | · | $6M | |
| Total Assets | $1.28B | $1.26B | $1.07B | $1.10B | $1.00B | $896M | $782M | $692M | $716M | $633M | · | $771M | $784M | $762M | · | $778M | |
| Accounts Payable | $32M | $35M | $33M | $34M | $31M | $28M | $22M | $25M | $23M | $23M | · | $25M | $21M | $23M | · | $21M | |
| Current Liabilities | $683M | $725M | $557M | $611M | $530M | $457M | $352M | $358M | $372M | $331M | · | $410M | $402M | $374M | · | $340M | |
| Capital Leases | · | · | $6M | · | · | · | $8M | $8M | $8M | $8M | · | $9M | $9M | $3M | · | $4M | |
| Total Liabilities | $1.01B | $1.05B | $887M | $941M | $859M | $787M | $681M | $577M | $591M | $501M | · | $581M | $572M | $538M | · | $505M | |
| Long-term Debt | $324M | $324M | $323M | $323M | $322M | $322M | $321M | $212M | $212M | $162M | · | $162M | $161M | $161M | · | $161M | |
| Total Debt | $324M | $324M | · | $323M | $322M | $322M | · | $212M | $212M | $162M | · | $162M | $161M | $161M | · | $161M | |
| Common Stock | $207.0K | $207.0K | $205.0K | $200.0K | $198.0K | $198.0K | $192.0K | $191.0K | $191.0K | $191.0K | · | $189.0K | $188.0K | $188.0K | · | $187.0K | |
| Paid-in Capital | $1.23B | $1.20B | $1.19B | $1.16B | $1.14B | $1.13B | $1.11B | $1.09B | $1.07B | $1.06B | · | $1.02B | $1.01B | $992M | · | $947M | |
| Retained Earnings | $-961M | $-998M | $-1.01B | $-998M | $-1.00B | $-1.02B | $-1.01B | $-977M | $-951M | $-927M | · | $-833M | $-798M | $-770M | · | $-675M | |
| Stockholders' Equity | $265M | $207M | $179M | $162M | $141M | $108M | $100M | $115M | $124M | $131M | · | $189M | $210M | $223M | · | $272M | |
| Liabilities + Equity | $1.28B | $1.26B | $1.07B | $1.10B | $1.00B | $896M | $782M | $692M | $716M | $633M | · | $771M | $784M | $762M | · | $778M | |
| Shares Outstanding | 207,178,193 | 206,671,068 | 204,153,619 | 199,988,515 | 197,958,237 | 197,667,653 | 191,778,639 | 191,595,786 | 191,236,747 | 191,156,569 | 188,951,643 | 188,911,520 | 188,512,765 | 188,475,278 | 187,280,015 | 187,263,976 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $8M | $8M | $8M | $8M | $7M | $8M | $7M | $8M | $6M | $6M | $6M | $5M | $5M | $5M | $5M | $4M | |
| Stock-based Comp | $18M | $14M | $13M | $16M | $16M | $17M | $16M | $17M | $17M | $21M | $16M | $14M | $16M | $22M | $23M | $19M | |
| Amort. of Intangibles | $0 | $0 | $0 | $0 | $0 | $634.0K | $1.0K | $650.0K | $23.0K | $28.0K | $28.0K | $27.0K | $74.0K | $97.0K | $97.0K | $96.0K | |
| Other Non-cash | · | $95M | · | · | · | $949.0K | · | · | · | $13M | · | · | · | $95M | · | · | |
| Operating Cash Flow | $-17M | $129M | $-50M | $145M | $29M | $17M | $-9M | $26M | $24M | $-6M | $-187M | $6M | $37M | $85M | $-149M | $105M | |
| CapEx | $10M | $7M | $5M | $5M | $8M | $8M | $9M | $9M | $12M | $11M | $11M | $10M | $9M | $7M | · | · | |
| Investing Cash Flow | $2M | $578.0K | $-7M | $2M | $-7M | $-3M | $-6M | $-25M | $27M | $43M | $-1M | $-10M | $-26M | $-110M | $-8M | $-8M | |
| Debt Issued | · | · | $0 | $0 | · | · | $330M | $0 | · | · | $0 | $0 | · | · | $0 | · | |
| Stock Issued | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Financing Cash Flow | $3M | $515.0K | $15M | $948.0K | $2M | $181.0K | $107M | $0 | $49M | $-335.0K | $45.0K | $0 | $30.0K | $30.0K | $-527.0K | $17M | |
| Net Change in Cash | $-12M | $130M | $-42M | $148M | $24M | $13M | $92M | $2M | $100M | $36M | $-188M | $-4M | $11M | $-25M | · | · | |
| Free Cash Flow | · | $121M | · | · | · | $8M | · | · | · | $-17M | · | · | · | · | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-23M | · | · | · | · | · | · |
Profitability 7
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 3.1% | 1.3% | · | 0.77% | 2.2% | -0.58% | · | -2.8% | -2.7% | -6.5% | · | -6.5% | -5.1% | -7.4% | · | -9.3% | |
| Net Margin | 2.7% | 0.92% | · | 0.38% | 1.5% | -0.98% | · | -3.8% | -3.5% | -7.4% | · | -7.7% | -6.2% | -8.5% | · | -11.2% | |
| Pretax Margin | 2.8% | 0.93% | · | 0.38% | 1.9% | -1.0% | · | -3.8% | -3.5% | -7.4% | · | -7.7% | -6.2% | -8.5% | · | -11.1% | |
| EBITDA Margin | 3.7% | 1.9% | · | 1.6% | 2.9% | 0.24% | · | -1.7% | -1.8% | -5.6% | · | -5.3% | -4.0% | -6.3% | · | -8.0% | |
| ROA | 3.2% | 1.1% | · | 0.42% | 1.8% | -1.2% | · | -3.6% | -3.2% | -6.7% | · | -4.5% | -3.9% | -5.3% | · | -5.6% | |
| ROE | 18.0% | 7.2% | · | 2.7% | 11.8% | -7.6% | · | -17.4% | -14.4% | -26.3% | · | -15.2% | -11.3% | -14.4% | · | -13.5% | |
| ROIC | 6.9% | 2.9% | · | 1.6% | 4.1% | -1.3% | · | -6.0% | -5.5% | -14.0% | · | -8.5% | -6.4% | -8.5% | · | -7.8% |
Liquidity & Solvency 5
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.7 | 1.6 | · | 1.6 | 1.7 | 1.7 | · | 1.6 | 1.6 | 1.6 | · | 1.6 | 1.7 | 1.8 | · | 2.0 | |
| Quick Ratio | 1.5 | 1.4 | · | 1.4 | 1.5 | 1.5 | · | 1.5 | 1.5 | 1.4 | · | 1.5 | 1.5 | 1.6 | · | 1.9 | |
| Debt / Equity | 1.2 | 1.6 | · | 2.0 | 2.3 | 3.0 | · | 1.9 | 1.7 | 1.2 | · | 0.9 | 0.8 | 0.7 | · | 0.6 | |
| LT Debt / Equity | 1.2 | 1.6 | · | 2.0 | 2.3 | 3.0 | · | 1.8 | 1.7 | 1.2 | · | 0.9 | 0.8 | 0.7 | · | 0.6 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -7.6 | · | -5.4 | -4.5 | -6.5 | · | -7.3 |
Efficiency 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 1.2 | 1.1 | · | 1.1 | 1.2 | 1.2 | · | 0.9 | 0.9 | 0.9 | · | 0.6 | 0.6 | 0.6 | · | 0.5 | |
| Receivables Turnover | 4.6 | 5.0 | · | 5.5 | 4.4 | 4.9 | · | 5.7 | 5.0 | 4.3 | · | 4.7 | 4.9 | 4.2 | · | 5.3 |
Valuation (TTM) 14
| 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 | $4.58B | $4.17B | · | $3.63B | $3.32B | $2.93B | · | $2.46B | $2.23B | $1.99B | · | $1.72B | $1.63B | $1.51B | · | $1.37B | |
| Net Income TTM | $67M | $22M | · | $-16M | $-44M | $-106M | · | $-132M | $-134M | $-147M | · | $-141M | $-118M | $-130M | · | $-138M | |
| Market Cap | $4.93B | $3.64B | · | $3.49B | $2.77B | $3.68B | · | $2.26B | $1.50B | $948M | · | $1.31B | $1.08B | $1.20B | · | $2.22B | |
| Enterprise Value | $4.56B | $3.24B | · | $3.17B | $2.59B | $3.52B | · | $2.10B | $1.34B | $808M | · | $957M | $728M | $872M | · | $1.81B | |
| P/E | 76.8 | 195.8 | · | -174.5 | -56.0 | -32.7 | · | -16.6 | -10.9 | -6.3 | · | -9.1 | -9.1 | -9.0 | · | -15.4 | |
| P/S | 1.1 | 0.9 | · | 1.0 | 0.8 | 1.3 | · | 0.9 | 0.7 | 0.5 | · | 0.8 | 0.7 | 0.8 | · | 1.6 | |
| P/B | 18.6 | 17.6 | · | 21.6 | 19.7 | 34.0 | · | 19.8 | 12.1 | 7.2 | · | 7.0 | 5.2 | 5.4 | · | 8.1 | |
| P / Tangible Book | 21.6 | 21.4 | · | 27.9 | 26.6 | 53.0 | · | 30.1 | 17.9 | 10.4 | · | 11.5 | 8.0 | 8.1 | · | 11.0 | |
| P / Cash Flow | · | 28.3 | · | · | · | 221.5 | · | · | · | -152.0 | · | · | · | 14.1 | · | · | |
| P / FCF | · | 30.0 | · | · | · | 440.0 | · | · | · | -54.6 | · | · | · | · | · | · | |
| EV / EBITDA | 91.2 | 138.8 | · | 202.4 | 87.1 | 1600.6 | · | -176.4 | -113.0 | -23.0 | · | -39.5 | -39.4 | -31.6 | · | -62.5 | |
| EV / FCF | · | 26.7 | · | · | · | 421.2 | · | · | · | -46.6 | · | · | · | · | · | · | |
| EV / Revenue | 1.0 | 0.8 | · | 0.9 | 0.8 | 1.2 | · | 0.9 | 0.6 | 0.4 | · | 0.6 | 0.4 | 0.6 | · | 1.3 | |
| Earnings Yield | 1.3% | 0.51% | · | -0.57% | -1.8% | -3.1% | · | -6.0% | -9.2% | -15.9% | · | -10.9% | -11.0% | -11.2% | · | -6.5% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $3.95B | $2.70B | $1.82B | $1.43B | $1.17B |
| Operating Margin % | 0.37% | -3.8% | -7.0% | -9.0% | -15.2% |
| Net Income | $-724.0K | $-128M | $-148M | $-150M | $-195M |
| Diluted EPS | $0.00 | $-0.67 | $-0.79 | $-0.83 | $-1.14 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 1.8 | 3.2 | 1.0 | 0.7 | 0.5 |
| Current Ratio | 1.7 | 1.9 | 1.8 | 2.4 | 3.3 |
| Quick Ratio | 1.5 | 1.8 | 1.7 | 2.2 | 3.1 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $113M | $-7M | — | — | — |
Latest News Recent headlines mentioning this company
- Alignment Healthcare (ALHC) Gets KeyBanc Backing, 36% PT Hike, Shares Jump
- Alignment Healthcare (ALHC) Announces Executive Leadership Updates as John Kao Assumes Role of Chairman
- Alignment Healthcare (ALHC) Climbs 7% Ahead of Business Updates
- Alignment Healthcare CEO Sells $2.1 Million in Shares. Here's What Investors Should Know
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Institutional owners (13F) 350 filers · $3.4B 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 |
|---|---|---|---|---|
| 82 (-1 vs prior Q) | 40 (+1 vs prior Q) | 137 (+34 vs prior Q) | 86 (+9 vs prior Q) | +11.2M |
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 |
|---|---|---|---|---|
| WELLINGTON MANAGEMENT GROUP LLP | $378,244,017 | 15,885,931 | 11.28% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $277,916,487 | 11,672,259 | 8.28% | Shares |
| FMR LLC | $254,267,609 | 10,679,026 | 7.58% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $193,914,521 | 8,144,247 | 5.78% | Shares |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | $184,799,005 | 7,761,403 | 5.51% | Shares |
| STATE STREET CORP | $173,753,332 | 7,297,494 | 5.18% | Shares |
| Hood River Capital Management LLC | $147,253,564 | 6,184,526 | 4.39% | Shares |
| Capital Research Global Investors | $104,748,023 | 4,399,329 | 3.12% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $99,555,848 | 4,180,443 | 2.97% | Shares |
| Capital World Investors | $93,100,219 | 3,910,131 | 2.78% | Shares |
| Danica Pension, Livsforsikringsaktieselskab | $87,793,637 | 3,687,259 | 2.62% | Shares |
| NEXT CENTURY GROWTH INVESTORS LLC | $60,420,208 | 2,537,598 | 1.80% | Shares |
| GOLDMAN SACHS GROUP INC | $58,705,841 | 2,465,596 | 1.75% | Shares |
| AMERIPRISE FINANCIAL INC | $55,024,673 | 2,310,990 | 1.64% | Shares |
| Integral Health Asset Management, LLC | $47,620,000 | 2,000,000 | 1.42% | Shares |
| Broad Bay Capital Management, LP | $45,079,330 | 1,893,294 | 1.34% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $40,168,970 | 1,687,063 | 1.20% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $39,366,549 | 1,653,362 | 1.17% | Shares |
| LOOMIS SAYLES & CO L P | $38,526,271 | 1,618,071 | 1.15% | Shares |
| 8 KNOTS MANAGEMENT, LLC | $36,900,248 | 1,868,367 | 1.10% | Shares |
| Allspring Global Investments Holdings, LLC | $36,089,599 | 1,503,107 | 1.08% | Shares |
| MILLENNIUM MANAGEMENT LLC | $34,822,387 | 1,462,511 | 1.04% | Shares |
| GILDER GAGNON HOWE & CO LLC | $33,321,666 | 1,399,482 | 0.99% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $29,533,853 | 1,240,397 | 0.88% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $29,464,042 | 1,237,465 | 0.88% | Shares |
| OBERWEIS ASSET MANAGEMENT INC/ | $25,943,376 | 1,089,600 | 0.77% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $25,199,052 | 1,058,339 | 0.75% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $23,771,904 | 998,400 | 0.71% | Shares |
| Rhenman & Partners Asset Management AB | $23,740,546 | 997,083 | 0.71% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $20,029,460 | 841,221 | 0.60% | Shares |
| MACKENZIE FINANCIAL CORP | $19,481,080 | 818,189 | 0.58% | Shares |
| D. E. Shaw & Co., Inc. | $18,741,137 | 787,112 | 0.56% | Shares |
| ROYCE & ASSOCIATES LP | $18,594,134 | 780,938 | 0.55% | Shares |
| CITADEL ADVISORS LLC | $15,997,939 | 671,900 | 0.48% | Call option |
| PICTON MAHONEY ASSET MANAGEMENT | $15,858,441 | 666,041 | 0.47% | Shares |
| FIRST TRUST ADVISORS LP | $15,804,149 | 663,761 | 0.47% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $14,419,550 | 605,609 | 0.43% | Shares |
| OSTERWEIS CAPITAL MANAGEMENT INC | $14,381,240 | 604,000 | 0.43% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $13,873,135 | 582,660 | 0.41% | Shares |
| Aberdeen Group plc | $13,739,608 | 577,052 | 0.41% | Shares |
| Public Sector Pension Investment Board | $13,529,104 | 568,211 | 0.40% | Shares |
| Pier Capital, LLC | $12,558,870 | 527,462 | 0.37% | Shares |
| TWO SIGMA INVESTMENTS, LP | $12,369,128 | 519,493 | 0.37% | Shares |
| MORGAN STANLEY | $12,030,193 | 505,258 | 0.36% | Shares |
| 1492 Capital Management LLC | $11,604,256 | 487,369 | 0.35% | Shares |
| TD Asset Management Inc | $11,586,327 | 486,616 | 0.35% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $10,993,482 | 461,717 | 0.33% | Shares |
| AMERICAN CENTURY COMPANIES INC | $10,775,382 | 452,557 | 0.32% | Shares |
| RHUMBLINE ADVISERS | $10,212,205 | 428,905 | 0.30% | Shares |
| Trexquant Investment LP | $10,067,844 | 422,841 | 0.30% | Shares |
| Swiss National Bank | $9,271,614 | 389,400 | 0.28% | Shares |
| O'Neil Global Advisors, Inc. | $8,874,344 | 372,715 | 0.26% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $8,748,270 | 367,420 | 0.26% | Shares |
| Granahan Investment Management, LLC | $8,451,907 | 354,973 | 0.25% | Shares |
| Burkehill Global Management, LP | $8,333,500 | 350,000 | 0.25% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $8,261,259 | 346,966 | 0.25% | Shares |
| BANK OF AMERICA CORP /DE/ | $7,480,936 | 314,193 | 0.22% | Shares |
| Counterpoint Mutual Funds LLC | $7,400,934 | 310,833 | 0.22% | Shares |
| Tredje AP-fonden | $7,167,834 | 301,043 | 0.21% | Shares |
| Caption Management, LLC | $7,143,000 | 300,000 | 0.21% | Call option |
| NEW YORK STATE COMMON RETIREMENT FUND | $6,575,703 | 276,174 | 0.20% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $6,512,035 | 273,500 | 0.19% | Call option |
| Susquehanna Portfolio Strategies, LLC | $6,441,200 | 270,525 | 0.19% | Shares |
| Legal & General Group Plc | $6,122,480 | 257,139 | 0.18% | Shares |
| BlackRock, Inc. | $5,511,253 | 231,468 | 0.16% | Shares |
| PRUDENTIAL FINANCIAL INC | $5,383,679 | 226,110 | 0.16% | Shares |
| FORMULA GROWTH LTD | $5,270,272 | 221,347 | 0.16% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $5,249,915 | 220,492 | 0.16% | Shares |
| SCHRODER INVESTMENT MANAGEMENT GROUP | $5,055,282 | 217,338 | 0.15% | Shares |
| Bank of New York Mellon Corp | $5,028,362 | 211,187 | 0.15% | Shares |
| SEB Asset Management AB | $5,019,996 | 210,836 | 0.15% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $4,826,906 | 202,726 | 0.14% | Shares |
| CAXTON ASSOCIATES LLP | $4,760,976 | 199,957 | 0.14% | Shares |
| Cubist Systematic Strategies, LLC | $4,615,333 | 264,489 | 0.14% | Shares |
| Squarepoint Ops LLC | $4,587,758 | 192,682 | 0.14% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $4,440,160 | 186,483 | 0.13% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $4,411,493 | 185,279 | 0.13% | Shares |
| Quantinno Capital Management LP | $4,398,969 | 184,753 | 0.13% | Shares |
| ALLIANCEBERNSTEIN L.P. | $4,385,988 | 248,921 | 0.13% | Shares |
| LGT Fund Management Co Ltd. | $4,278,657 | 179,700 | 0.13% | Shares |
| AXA Investment Managers S.A. | $4,264,815 | 244,402 | 0.13% | Shares |
| Verition Fund Management LLC | $4,184,655 | 175,752 | 0.12% | Shares |
| MML INVESTORS SERVICES, LLC | $4,136,345 | 173,723 | 0.12% | Shares |
| CITADEL ADVISORS LLC | $4,088,177 | 171,700 | 0.12% | Put option |
| Baird Financial Group, Inc. | $3,996,128 | 167,834 | 0.12% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $3,706,265 | 155,660 | 0.11% | Shares |
| JANE STREET GROUP, LLC | $3,688,169 | 154,900 | 0.11% | Call option |
| ALGERT GLOBAL LLC | $3,660,311 | 153,730 | 0.11% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $3,632,168 | 152,548 | 0.11% | Shares |
| Man Group plc | $3,527,475 | 148,151 | 0.11% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $3,492,284 | 198,200 | 0.10% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $3,439,855 | 144,471 | 0.10% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $3,405,259 | 143,018 | 0.10% | Shares |
| Corient Private Wealth LP | $3,247,162 | 136,378 | 0.10% | Shares |
| ExodusPoint Capital Management, LP | $3,192,111 | 134,066 | 0.10% | Shares |
| Cinctive Capital Management LP | $3,027,918 | 127,170 | 0.09% | Shares |
| MetLife Investment Management, LLC | $2,836,938 | 119,149 | 0.08% | Shares |
| Jefferies Financial Group Inc. | $2,795,199 | 117,396 | 0.08% | Shares |
| TWO SIGMA ADVISERS, LP | $2,778,825 | 140,700 | 0.08% | Shares |
| LPL Financial LLC | $2,736,007 | 114,910 | 0.08% | Shares |
Company insiders 28 insiders · 17 officers · 10 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Robert Thomas Freeman | Chief Financial Officer | March 28, 2024 S | 865,407 | 0 | 0 | $0 |
| Dawn Christine Maroney | President | Aug. 14, 2026 S | 917,313 | 0 | 3 | $-4,344,826 |
| Mark D. Kent | President - MSO | June 3, 2026 A | 102,567 | 1 | 0 | $197,627 |
| Sebastian Burzacchi | COO - Mgmt Services Org | March 13, 2024 A | 225,945 | 0 | 0 | $0 |
| Shane J. Hochradel | Chief Operations Officer | July 1, 2026 A | 87,719 | 0 | 0 | $0 |
| Joseph S Konowiecki | EVP, Corporate Affairs | July 1, 2026 S | 1,103,816 | 0 | 6 | $-2,936,074 |
| Hyong Kim | Chief Medical Officer | June 12, 2026 S | 331,750 | 0 | 1 | $-713,987 |
| Christopher J Joyce | Chief Legal and Admin. Officer | Sept. 10, 2025 S | 343,592 | 0 | 2 | $-507,690 |
| Robert L. Scavo | Chief Information Officer | March 28, 2024 S | 436,822 | 0 | 0 | $0 |
| Hakan Kardes | Chief Experience Officer | March 28, 2024 S | 430,444 | 0 | 0 | $0 |
| Andreas P. Wagner | Chief People Officer | March 13, 2024 A | 215,763 | 0 | 0 | $0 |
| Melinda Michele Del Toro | Chief People Officer | July 5, 2023 A | 175,439 | 0 | 0 | $0 |
| Richard A. Cross | SVP, General Counsel | March 29, 2023 S | 393,460 | 0 | 0 | $0 |
| Dinesh M. Kumar | Chief Med & Operating Officer | March 29, 2023 S | 1,088,651 | 0 | 0 | $0 |
| Rajesh Shrestha | Pres., New Markets & CBO | March 31, 2022 S | 170,220 | 0 | 0 | $0 |
| Donald Steven Furman | Chief Clinical Officer | March 31, 2022 S | 1,826,538 | 0 | 0 | $0 |
| Michael Curtis Foster | Chief Legal Officer | March 25, 2021 A | 1,081,849 | 0 | 0 | $0 |
| Nicholas Robbert Vorhoff | Director | March 13, 2024 A | 135,716 | 0 | 0 | $0 |
| Mark B. Mcclellan | Director | March 13, 2024 A | 345,177 | 0 | 0 | $0 |
| Margaret M Mccarthy | Director | March 13, 2024 A | 116,620 | 0 | 0 | $0 |
| Thomas J. Carella | Director | March 13, 2024 A | 124,478 | 0 | 0 | $0 |
| Jacqueline B Kosecoff | Director | March 13, 2024 A | 278,609 | 0 | 0 | $0 |
| David C Hodgson | Director | March 13, 2024 A | 135,716 | 0 | 0 | $0 |
| Yon Jorden | Director | March 13, 2024 A | 80,476 | 0 | 0 | $0 |
| Jody L Bilney | Director | March 13, 2024 A | 97,744 | 0 | 0 | $0 |
| Jeffrey H Margolis | Director | March 13, 2024 A | 104,451 | 0 | 0 | $0 |
| General Atlantic (ALN HLTH), L.P. | 10% owner | Dec. 12, 2025 S | 13,476,585 | 0 | 3 | $-521,983,601 |
| John E Kao | — | Aug. 10, 2026 S | 790,766 | 0 | 9 | $-28,016,091 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 75 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 |
|---|---|---|---|---|
| HEAL · Global X Funds | 2.71% | 44,344 NS | May 31, 2026 | N-PORT |
| FMED · Fidelity Covington Trust | 1.25% | 33,378 NS | May 31, 2026 | N-PORT |
| PSCH · Invesco Exchange-Traded Fund Trust … | 1.08% | 155,497 SH | Aug. 21, 2026 | Daily |
| RZG · Invesco Exchange-Traded Fund Trust | 0.84% | 86,566 SH | Aug. 21, 2026 | Daily |
| FNY · First Trust Exchange-Traded AlphaDE… | 0.68% | 155,657 NS | April 30, 2026 | N-PORT |
| VIOG · VANGUARD ADMIRAL FUNDS | 0.43% | 196,861 SH | Aug. 19, 2026 | Daily |
| FPX · First Trust Exchange-Traded Fund | 0.38% | 266,575 NS | June 30, 2026 | N-PORT |
| CGMM · Capital Group Equity ETF Trust I | 0.32% | 575,293 NS | May 31, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.29% | 218,593 SH | Aug. 19, 2026 | Daily |
| PSC · Principal Exchange-Traded Funds | 0.27% | 259,553 NS | June 30, 2026 | N-PORT |
| FNX · First Trust Exchange-Traded AlphaDE… | 0.26% | 154,540 NS | April 30, 2026 | N-PORT |
| IHF · iShares Trust | 0.26% | 242,286 SH | Aug. 21, 2026 | Daily |
| ESSC · Strategy Shares | 0.24% | 2,759 NS | April 30, 2026 | N-PORT |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.21% | 578,282 SH | Aug. 19, 2026 | Daily |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.20% | 42,792 NS | April 30, 2026 | N-PORT |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.20% | 42,834 SH | Aug. 21, 2026 | Daily |
| RWJ · Invesco Exchange-Traded Fund Trust … | 0.17% | 267,419 SH | Aug. 21, 2026 | Daily |
| BKSE · BNY Mellon ETF Trust | 0.17% | 5,925 NS | April 30, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.15% | 1,175,474 SH | Aug. 19, 2026 | Daily |
| IWO · iShares Trust | 0.14% | 1,608,017 SH | Aug. 21, 2026 | Daily |
| OASC · Unified Series Trust | 0.14% | 7,614 NS | May 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.13% | 84,671 NS | April 30, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.13% | 236,348 NS | May 31, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.13% | 42,163 NS | April 30, 2026 | N-PORT |
| VBK · VANGUARD INDEX FUNDS | 0.12% | 2,467,953 SH | Aug. 19, 2026 | Daily |
| VFQY · VANGUARD WELLINGTON FUND | 0.11% | 22,325 SH | Aug. 19, 2026 | Daily |
| SAA · ProShares Trust | 0.11% | 1,916 NS | May 31, 2026 | N-PORT |
| QVMS · Invesco Exchange-Traded Fund Trust … | 0.10% | 19,039 SH | Aug. 21, 2026 | Daily |
| FSCC · Federated Hermes ETF Trust | 0.10% | 17,193 NS | May 31, 2026 | N-PORT |
| FFF · Founder Funds Trust | 0.09% | 196 NS | June 30, 2026 | N-PORT |
| RB · ProShares Trust | 0.08% | 58 NS | May 31, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.08% | 9,198 NS | May 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.07% | 4,587,528 SH | Aug. 21, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.07% | 583,347 SH | Aug. 19, 2026 | Daily |
| FHLC · FIDELITY COVINGTON TRUST | 0.06% | 77,111 NS | April 30, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.05% | 772,833 NS | May 31, 2026 | N-PORT |
| VB · VANGUARD INDEX FUNDS | 0.05% | 4,267,902 SH | Aug. 19, 2026 | Daily |
| AVIE · AMERICAN CENTURY ETF TRUST | 0.05% | 330 NS | May 31, 2026 | N-PORT |
| GSSC · Goldman Sachs ETF Trust | 0.05% | 30,988 NS | May 31, 2026 | N-PORT |
| FBUF · Fidelity Greenwood Street Trust | 0.05% | 384 NS | April 30, 2026 | N-PORT |
| UWM · ProShares Trust | 0.04% | 7,194 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.04% | 1,896,947 SH | Aug. 19, 2026 | Daily |
| FHEQ · Fidelity Greenwood Street Trust | 0.04% | 14,543 NS | April 30, 2026 | N-PORT |
| ESML · iShares Trust | 0.03% | 72,072 SH | Aug. 21, 2026 | Daily |
| URTY · ProShares Trust | 0.03% | 7,280 NS | May 31, 2026 | N-PORT |
| VFMO · VANGUARD WELLINGTON FUND | 0.03% | 22,743 SH | Aug. 19, 2026 | Daily |
| ISCG · iShares Trust | 0.03% | 19,498 SH | Aug. 21, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.03% | 156,671 NS | April 30, 2026 | N-PORT |
| ISCB · iShares Trust | 0.02% | 4,833 SH | Aug. 21, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.02% | 42,998 SH | Aug. 21, 2026 | Daily |