AN AutoNation, Inc. Common Stock
About AutoNation, Inc. Common Stock Company overview from Wikipedia
AutoNation, Inc. is an American automotive retailer based in Fort Lauderdale, Florida, which provides new and pre-owned vehicles and associated services in the United States. The company was founded by Wayne Huizenga in 1996, starting with twelve AutoNation locations, and now has more than 300 retail outlets.
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AutoNation, Inc. is an American automotive retailer based in Fort Lauderdale, Florida, which provides new and pre-owned vehicles and associated services in the United States. The company was founded by Wayne Huizenga in 1996, starting with twelve AutoNation locations, and now has more than 300 retail outlets.
AutoNation continued growing by acquiring other companies in the car rental business such as National Car Rental, Spirit Rent-A-Car, Value Rent-A-Car, Snappy Car Rental and more.
In 2011, AutoNation was the first auto retailer in the United States to sell a total of eight million vehicles.
History
1996–2008
Before its acquisition by Republic Industries in 1997, but under the early division brand name "AutoNation", the company was a growing network of used automobile superstores. In 1995, H. Wayne Huizenga of Republic Industries became chairman of the board of directors and through Republic's ownership of AutoNation, sought to expand its business into used auto sales throughout the United States. Republic's sales for 1995 were $5.2 billion.
In 1996, Republic Industries began purchasing new car dealerships and offering long-term contracts to owners who joined the newly created automotive division of Republic Industries, which led to the company operating twelve retail locations under the "AutoNation" brand. Later that year, Alamo Rent A Car was purchased by Republic Industries for $625 million, and a 2-for-1 stock split in Republic stock was also completed.
In 1997, Republic continued its acquisitions in the car rental business with the purchase of National Car Rental, Spirit Rent-A-Car, Value Rent-A-Car, Snappy Car Rental, and EuroDollar Rent A Car. Huizenga had Republic start consolidating operations between new and used cars and its rental companies into one operation. Acquiring six Saturn dealerships in Arizona and Florida, Republic sold the dealerships to Saturn in 1997 because they did not generate enough sales, despite being a successful brand.
In 1997, the company acquired Maroone Automotive Group of Buffalo, New York and Florida for $200 million in Republic stock.
In an attempt to expand the company's electronic security division, the company offered to purchase ADT. The acquisition failed, and in October 1997, Republic sold its electronic security division.
Republic Industries offered in July 1998 an initial public offering of its original core waste disposal business as Republic Services and it was from this sale of 36% of Republic Services stock, the company netted $1.4 billion to be used to fund the new company being formed. As a result of this sale, the company changed its name to AutoNation to highlight its focus on the automobile industry.
In 1998, CarMax brought a lawsuit against Republic for copyright and trademark infringement. CarMax received a $50 million jury award in its lawsuit, but it was overturned on appeal in 1998.
In April 1998, competitor Drivers' Mart was purchased for $40 million. The remaining 64% of Republic Services was divested to Republic Industries shareholders in 1999. The company's first chief executive officer (CEO), Steve Berrard, eventually resigned from the company in July 1999.
Mike Jackson, the new CEO, previously of Mercedes Benz USA, moved to spin off the car rental business as "ANC Rental" and close all newly built "AutoNation USA" used car megastores, due to losses of $25 million per quarter. Plans to brand all automotive retail stores as "AutoNation stores" were cancelled. A rebranding of a more recognizable 'regional brand' focus was instituted.
In January 2003, Jackson was named chairman of the board, replacing Huizenga. On October 24, 2005, the AutoNation building in downtown Fort Lauderdale suffered significant damage due to Hurricane Wilma. The company has since transferred to another nearby building.
In 2006, Mike Jackson, CEO of AutoNation announced that his company would be reducing orders from the three major vehicle manufacturers as General Motors, Ford and Chrysler in 2007 and altered the company's purchase pattern to include purchasing more imported vehicles as BMW, Mercedes and Lexus, due to anticipated view of further market share losses by US automakers. resulting in high dealer
2009–present
In 2009, during the great recession, AutoNation announced a newly formed AutoNation Payment Protection program, promising that the dealership will buy back any car at market value, should the owner lose their job. By 2011, AutoNation was the first auto retailer in the U.S. to sell a total of 8 million vehicles.
In January 2013, AutoNation announced that it would replace localized brand names of its car retail operations with its own name. This re-branding across the US was supported and approved by the major automotive manufacturers, including GM, Ford, Chrysler, Nissan, Toyota, Honda, VW and Hyundai. It involved a total of 210 franchises operating under previously assigned local group names. In May 2013, AutoNation partnered with Indy Car Series Champion Ryan-Hunter Reay to support his "Racing for Cancer" charity. This charity served as a key component of the AutoNation cancer charity program which was founded as a 501(c)(3) charitable organization. In August 2013, AutoNation announced the sale of its 9 millionth vehicle which was a record achievement for the industry.
On April 11, 2017, USA Today wrote that AutoNation's CEO Mike Jackson questioned the market value of Tesla, the maker of electric cars, by saying that Tesla is "either one of the great Ponzi schemes of all time or it’s gonna work out." The previous day, Tesla passed General Motors as the most valuable American automotive manufacturer, measured by its market capitalization. Jackson also said, "Clearly General Motors is undervalued and Tesla is overvalued. Anybody can see that." In June 2017, AutoNation sold a total of 11 million vehicles. On November 2, 2017, AutoNation announced that Waymo, a developer of self-driving technology, enlisted AutoNation to maintain and repair their driverless vehicles fleet.
During the coronavirus pandemic, AutoNation faced criticism after reports in The Washington Post revealed that the company applied for at least $266 Million in SBA Paycheck Protection Program loan under the CARES Act in order to allow at least 7,000 employees who had been furloughed to return to work and received up to $95 Million in funds for its over 300 dealerships located throughout the United States. SBA Paycheck Protection Program loans were originated by commercial banks, credit unions, and other financial institutions; according to AutoNation's Form 8-K filed with the Securities and Exchange Commission on March 26, the company's "administrative agent" and lender as of the filing date was JPMorgan Chase Bank, N.A. On April 24, AutoNation announced that it would be returning $77 Million to J.P Morgan.
Cheryl Miller resigned her position as CEO for AutoNation in July 2020. She was replaced by Mike Jackson, who was to fill the role until April 2022. In November 2021, Mike Jackson retired from his 20 years service to AutoNation and was replaced by Mike Manley, previously Head of Americas at Stellantis N.V. and former CEO of Fiat Chrysler Automobiles.
On April 9, 2021, it was officially announced that AutoNation had reached a naming rights agreement for the stadium of Fort Lauderdale-based Inter Miami CF. The team's stadium became branded as DRV PNK Stadium, a tie-in with AutoNation's breast cancer awareness campaign.
In 2022, AutoNation sold its 14 millionth vehicle in the United States since its founding.
In January 2023, AutoNation acquired RepairSmith, a full-service mobile solution for automotive repair and maintenance, for $190 million.
== Revenue by product category ==
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
AN Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
AN Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount |
|---|---|
| July 3, 2000 | $0.6870 |
| April 27, 1995 | $0.2500 |
AN Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 7 30.4%
- Buy 12 52.2%
- Hold 4 17.4%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
13 analysts · 2026-08-18Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $5.56 | $5.66 | -0.10% |
| March 31, 2026 | $4.69 | $4.64 | 0.05% |
| Dec. 31, 2025 | $5.08 | $5.00 | 0.08% |
| Sept. 30, 2025 | $5.01 | $4.97 | 0.04% |
| June 30, 2025 | $5.46 | $4.85 | 0.61% |
| March 31, 2025 | $4.68 | $4.55 | 0.13% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| AN | $7.27B | 12.1 | 3.2% | 2.4% | 27.0% | 17.9% |
| AZO | $69.97B | 29.0 | 2.4% | 13.2% | -63.5% | 52.6% |
| PAG | $10.41B | 11.2 | -0.18% | 2.9% | 17.1% | 16.4% |
| MUSA | — | 16.7 | -4.2% | 2.4% | 74.1% | — |
| KMX | $6.12B | 25.7 | -1.8% | 0.96% | 4.1% | 10.8% |
| LAD | $7.81B | 10.3 | 4.0% | 2.2% | 12.4% | 15.2% |
| VVV | $4.56B | 21.9 | 5.6% | 12.3% | 71.8% | 38.5% |
| ABG | — | 9.3 | 4.7% | 2.7% | 12.8% | 17.1% |
| AAP | $2.33B | 53.3 | -5.4% | 0.51% | 2.0% | 43.4% |
| GPI | $9.81B | 15.6 | 13.2% | 1.4% | 11.0% | 16.1% |
| SAH | — | 18.1 | 6.5% | 0.78% | 11.3% | 15.7% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $27.63B | $26.77B | $26.95B | $26.98B | $25.84B | $20.39B | $21.34B | $21.41B | $21.53B | $21.61B | $20.86B | $19.11B | |
| Cost of Revenue | $22.68B | $21.98B | $21.82B | $21.72B | $20.89B | $16.82B | $17.81B | $18.02B | $18.18B | $18.30B | $17.60B | $16.12B | |
| Gross Profit | $4.95B | $4.79B | $5.13B | $5.27B | $4.95B | $3.57B | $3.52B | $3.40B | $3.36B | $3.31B | $3.26B | $2.99B | |
| SG&A Expense | $3.36B | $3.26B | $3.25B | $3.03B | $2.88B | $2.42B | $2.56B | $2.51B | $2.44B | $2.35B | $2.26B | $2.08B | |
| Operating Income | $1.24B | $1.31B | $1.65B | $2.02B | $1.90B | $563M | $824M | $778M | $843M | $890M | $873M | $821M | |
| Interest Income | · | · | · | · | · | $300.0K | $500.0K | $1M | $1M | $1M | $100.0K | $200.0K | |
| Other Non-op | $13M | $10M | $24M | $-15M | $24M | $144M | $34M | $200.0K | $9M | $4M | $-1M | $3M | |
| Pretax Income | $884M | $917M | $1.35B | $1.83B | $1.81B | $550M | $613M | $529M | $636M | $702M | $723M | $682M | |
| Income Tax | $235M | $224M | $330M | $456M | $435M | $168M | $162M | $134M | $202M | $271M | $279M | $262M | |
| Net Income | $649M | $692M | $1.02B | $1.38B | $1.37B | $382M | $450M | $396M | $435M | $430M | $443M | $419M | |
| EPS (Basic) | $17.26 | $17.09 | $22.89 | $24.47 | $18.50 | $4.32 | $4.99 | $4.36 | $4.44 | $4.18 | $3.93 | $3.57 | |
| EPS (Diluted) | $17.04 | $16.92 | $22.74 | $24.29 | $18.31 | $4.30 | $4.97 | $4.34 | $4.43 | $4.15 | $3.89 | $3.52 | |
| Shares (Basic) | 37,600,000 | 40,500,000 | 44,600,000 | 56,300,000 | 74,200,000 | 88,300,000 | 90,100,000 | 90,900,000 | 97,800,000 | 103,100,000 | 112,700,000 | 117,300,000 | |
| Shares (Diluted) | 38,100,000 | 40,900,000 | 44,900,000 | 56,700,000 | 75,000,000 | 88,700,000 | 90,500,000 | 91,300,000 | 98,200,000 | 103,800,000 | 113,900,000 | 118,900,000 | |
| EBITDA | $1.24B | $1.31B | $1.65B | $2.02B | $1.90B | $563M | $824M | $778M | $843M | $890M | $873M | $821M |
Balance Sheet 25
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $59M | $60M | $61M | $73M | $60M | $570M | $42M | $49M | $69M | $65M | $74M | $75M | |
| Receivables | $693M | $774M | $762M | $634M | $540M | $595M | $662M | $707M | $1.11B | $1.03B | $908M | $818M | |
| Inventory | $3.40B | $3.36B | $3.03B | $2.05B | $1.85B | $2.60B | $3.31B | $3.65B | $3.37B | $3.52B | $3.61B | $2.90B | |
| Other Current Assets | $236M | $212M | $172M | $158M | $173M | $139M | $147M | $209M | $252M | $97M | $115M | $207M | |
| Current Assets | $4.65B | $4.70B | $4.31B | $3.14B | $2.81B | $4.15B | $4.41B | $4.88B | $4.80B | $4.71B | $4.71B | $4.00B | |
| PP&E (Net) | $3.96B | $3.79B | $3.79B | $3.61B | $3.42B | $3.14B | $3.17B | $3.16B | $2.96B | $2.84B | $2.67B | $2.42B | |
| PP&E (Gross) | $6.42B | $6.11B | $5.92B | $5.54B | $5.20B | $4.79B | $4.66B | $4.49B | $4.17B | $3.94B | $3.68B | $3.35B | |
| Accum. Depreciation | $2.50B | $2.32B | $2.13B | $1.94B | $1.78B | $1.65B | $1.48B | $1.33B | $1.21B | $1.09B | $1.01B | $930M | |
| Goodwill | $1.41B | $1.45B | $1.47B | $1.32B | $1.24B | $1.19B | $1.50B | $1.51B | $1.51B | $1.51B | $1.39B | $1.31B | |
| Intangibles | $1.03B | $906M | $928M | $837M | $744M | $522M | $582M | $595M | $587M | $598M | $440M | $355M | |
| Other Non-current Assets | $754M | $705M | $693M | $531M | $450M | $580M | $541M | $517M | $410M | $392M | $337M | $309M | |
| Total Assets | $14.39B | $13.00B | $11.98B | $10.06B | $8.94B | $9.89B | $10.54B | $10.67B | $10.27B | $10.06B | $9.55B | $8.39B | |
| Accounts Payable | $370M | $377M | $345M | $328M | $396M | $335M | $290M | $306M | $310M | $304M | $300M | $265M | |
| Short-term Debt | $200M | $630M | $440M | $50M | $340M | $0 | $170M | $630M | $330M | $942M | $600M | $0 | |
| Current Liabilities | $5.54B | $6.31B | $5.58B | $3.41B | $3.06B | $4.17B | $5.10B | $5.66B | $5.64B | $5.83B | $5.17B | $3.88B | |
| Capital Leases | $432M | $357M | $363M | $297M | $260M | $286M | $305M | $0 | · | · | · | · | |
| Deferred Tax | $94M | $83M | $85M | $76M | $78M | $96M | $135M | $90M | $72M | $92M | $79M | $69M | |
| Other Non-current Liabilities | $399M | $381M | $360M | $333M | $322M | $311M | $262M | $275M | $235M | $218M | $208M | $204M | |
| Total Debt | $200M | $630M | $440M | $50M | $340M | $0 | $170M | $630M | $330M | $942M | $600M | · | |
| Common Stock | $600.0K | $600.0K | $600.0K | $600.0K | $800.0K | $1M | $1M | $1M | $1M | $1M | $1M | $2M | |
| Retained Earnings | $5.98B | $5.33B | $4.64B | $3.66B | $4.64B | $4.07B | $3.69B | $3.24B | $2.83B | $3.13B | $2.70B | $3.76B | |
| Treasury Stock | $3.67B | $2.90B | $2.45B | $1.62B | $2.27B | $888M | $563M | $544M | $468M | $842M | $360M | $1.75B | |
| Stockholders' Equity | $2.34B | $2.46B | $2.21B | $2.05B | $2.38B | $3.24B | $3.16B | $2.72B | $2.37B | $2.31B | $2.35B | $2.07B | |
| Liabilities + Equity | $14.39B | $13.00B | $11.98B | $10.06B | $8.94B | $9.89B | $10.54B | $10.67B | $10.27B | $10.06B | $9.55B | $8.40B | |
| Shares Outstanding | 35,200,000 | 39,000,000 | 41,600,000 | 47,600,000 | 62,600,000 | 83,500,000 | 89,300,000 | 90,000,000 | 91,600,000 | 100,700,000 | 110,800,000 | 113,300,000 |
Cash Flow 11
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $46M | $36M | $40M | $32M | $35M | $30M | $31M | $26M | $21M | $25M | $24M | $26M | |
| Deferred Tax | · | $-4M | $19M | $800.0K | $-17M | $-39M | $46M | $11M | $-22M | $4M | $10M | $10M | |
| Operating Cash Flow | $112M | $315M | $724M | $1.67B | $1.63B | $1.21B | $769M | $511M | $540M | $516M | $507M | $485M | |
| CapEx | $309M | $328M | $410M | $329M | $216M | $156M | $269M | $401M | $313M | $244M | $248M | $209M | |
| Investing Cash Flow | $-687M | $12M | $-570M | $-479M | $-460M | $-74M | $-116M | $-295M | $-227M | $-493M | $-509M | $-376M | |
| Stock Repurchased | $792M | $460M | $874M | $1.70B | $2.32B | $367M | $45M | $100M | $435M | $497M | $237M | $488M | |
| Net Stock Activity | $-792M | $-460M | $-874M | $-1.70B | $-2.32B | $-367M | $-45M | $-100M | $-436M | $-499M | $-237M | $-488M | |
| Financing Cash Flow | $558M | $-301M | $-172M | $-1.15B | $-1.68B | $-607M | $-660M | $-237M | $-307M | $-36M | $900.0K | $-103M | |
| Net Change in Cash | $-18M | $26M | $-18M | $35M | $-509M | $527M | $-7M | $-22M | $6M | $-13M | $-1M | $6M | |
| Taxes Paid | $296M | $149M | $301M | $482M | $458M | $190M | $108M | $210M | $127M | $266M | $279M | $225M | |
| Free Cash Flow | $-198M | $-14M | $314M | $1.34B | $1.41B | $1.05B | $500M | $124M | $230M | $272M | $260M | $276M |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 17.9% | 17.9% | 19.0% | 19.5% | 19.2% | 17.5% | 16.5% | 15.9% | 15.6% | 15.3% | 15.6% | 15.6% | |
| Operating Margin | 4.5% | 4.9% | 6.1% | 7.5% | 7.4% | 2.8% | 3.9% | 3.6% | 3.9% | 4.1% | 4.2% | 4.3% | |
| Net Margin | 2.4% | 2.6% | 3.8% | 5.1% | 5.3% | 1.9% | 2.1% | 1.8% | 2.0% | 2.0% | 2.1% | 2.2% | |
| Pretax Margin | 3.2% | 3.4% | 5.0% | 6.8% | 7.0% | 2.7% | 2.9% | 2.5% | 3.0% | 3.2% | 3.5% | 3.6% | |
| EBITDA Margin | 4.5% | 4.9% | 6.1% | 7.5% | 7.4% | 2.8% | 3.9% | 3.6% | 3.9% | 4.1% | 4.2% | 4.3% | |
| ROA | 4.7% | 5.5% | 9.3% | 14.5% | 14.6% | 3.7% | 4.2% | 3.8% | 4.3% | 4.4% | 4.9% | 5.1% | |
| ROE | 27.0% | 28.7% | 46.9% | 64.0% | 58.0% | 11.6% | 14.6% | 14.8% | 18.6% | 18.5% | 20.0% | 20.3% | |
| ROIC | 35.8% | 31.9% | 47.1% | 72.5% | 53.2% | 12.1% | 18.2% | 17.4% | 21.3% | 16.8% | 18.2% | 24.4% |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.8 | 0.7 | 0.8 | 0.9 | 0.9 | 1.0 | 0.9 | 0.9 | 0.9 | 0.8 | 0.9 | 1.0 | |
| Quick Ratio | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 | 0.3 | 0.1 | 0.1 | 0.2 | 0.2 | 0.2 | 0.2 | |
| Debt / Equity | 0.1 | 0.3 | 0.2 | 0.0 | 0.1 | 0.0 | 0.1 | 0.2 | 0.1 | 0.4 | 0.3 | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 2.0 | 2.1 | 2.4 | 2.8 | 2.7 | 2.0 | 2.0 | 2.0 | 2.1 | 2.2 | 2.3 | 2.3 | |
| Inventory Turnover | 6.7 | 6.9 | 8.6 | 11.1 | 9.4 | 5.7 | 5.1 | 5.1 | 5.3 | 5.1 | 5.4 | 5.6 | |
| Receivables Turnover | 37.7 | 34.9 | 38.6 | 46.0 | 45.5 | 32.4 | 31.2 | 27.4 | 20.1 | 22.3 | 24.2 | 24.5 |
Growth Rates 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 3.2% | -0.68% | -0.13% | 4.4% | 26.8% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 0.79% | 1.2% | 9.7% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 6.3% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 0.71% | -25.6% | -6.4% | 32.7% | 325.8% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | -11.2% | -2.6% | 74.2% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 31.7% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -6.2% | -32.2% | -25.9% | 0.32% | 259.8% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | -22.2% | -20.4% | 38.8% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 11.2% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $27.63B | $26.77B | $26.95B | $26.98B | $25.84B | $20.39B | $21.34B | $21.41B | $21.53B | $21.61B | $20.86B | $19.11B | |
| Net Income TTM | $649M | $692M | $1.02B | $1.38B | $1.37B | $382M | $450M | $396M | $435M | $430M | $443M | $419M | |
| Market Cap | $7.27B | $6.62B | $6.25B | $5.11B | $7.31B | $5.83B | $4.34B | $3.21B | $4.70B | $4.90B | $6.61B | $6.84B | |
| Enterprise Value | $7.41B | $7.19B | $6.63B | $5.08B | $7.59B | $5.26B | $4.47B | $3.79B | $4.96B | $5.78B | $7.14B | · | |
| P/E | 12.1 | 10.0 | 6.6 | 4.4 | 6.4 | 16.2 | 9.8 | 8.2 | 11.6 | 11.7 | 15.3 | 17.2 | |
| P/S | 0.3 | 0.2 | 0.2 | 0.2 | 0.3 | 0.3 | 0.2 | 0.2 | 0.2 | 0.2 | 0.3 | 0.4 | |
| P/B | 3.1 | 2.7 | 2.8 | 2.5 | 3.1 | 1.8 | 1.4 | 1.2 | 2.0 | 2.1 | 2.8 | 3.3 | |
| P / Tangible Book | · | 67.2 | · | · | 18.4 | 3.8 | · | · | · | · | · | · | |
| P / Cash Flow | 65.0 | 21.0 | 8.6 | 3.1 | 4.5 | 4.8 | 5.6 | 6.3 | 8.7 | 9.5 | 13.0 | 14.1 | |
| P / FCF | -36.8 | -480.0 | 19.9 | 3.8 | 5.2 | 5.5 | 8.7 | 25.9 | 20.4 | 18.0 | 25.5 | 24.8 | |
| EV / EBITDA | 6.0 | 5.5 | 4.0 | 2.5 | 4.0 | 9.3 | 5.4 | 4.9 | 5.9 | 6.5 | 8.2 | · | |
| EV / FCF | -37.5 | -521.3 | 21.1 | 3.8 | 5.4 | 5.0 | 8.9 | 30.6 | 21.6 | 21.3 | 27.5 | · | |
| EV / Revenue | 0.3 | 0.3 | 0.2 | 0.2 | 0.3 | 0.3 | 0.2 | 0.2 | 0.2 | 0.3 | 0.3 | · | |
| Earnings Yield | 8.2% | 10.0% | 15.1% | 22.6% | 15.7% | 6.2% | 10.2% | 12.2% | 8.6% | 8.5% | 6.5% | 5.8% |
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 | $6.93B | $6.55B | $6.93B | $7.04B | $6.97B | $6.69B | $7.21B | $6.59B | $6.48B | $6.49B | $6.77B | $6.89B | $6.89B | $6.40B | $6.70B | $6.67B | |
| Cost of Revenue | $5.70B | $5.34B | $5.71B | $5.80B | $5.70B | $5.47B | $5.97B | $5.40B | $5.32B | $5.29B | $5.55B | $5.60B | $5.55B | $5.11B | $5.42B | $5.35B | |
| Gross Profit | $1.23B | $1.21B | $1.21B | $1.24B | $1.28B | $1.22B | $1.24B | $1.18B | $1.16B | $1.20B | $1.22B | $1.29B | $1.34B | $1.29B | $1.28B | $1.31B | |
| SG&A Expense | $856M | $842M | $836M | $850M | $855M | $822M | $834M | $811M | $826M | $793M | $808M | $819M | $843M | $783M | $767M | $763M | |
| Operating Income | $319M | $314M | $314M | $372M | $218M | $336M | $340M | $351M | $275M | $340M | $350M | $420M | $439M | $443M | $425M | $522M | |
| Other Non-op | $18M | $51M | $6M | $8M | $12M | $-13M | $800.0K | $2M | $-100.0K | $7M | $20M | $-5M | $4M | $5M | $10M | $-5M | |
| Pretax Income | · | · | · | · | · | · | $242M | $247M | $174M | $253M | $278M | $327M | $365M | $380M | $378M | $474M | |
| Income Tax | $62M | $70M | $52M | $72M | $52M | $58M | $56M | $62M | $44M | $63M | $62M | $84M | $92M | $92M | $91M | $121M | |
| Net Income | $182M | $205M | $172M | $215M | $86M | $176M | $186M | $186M | $130M | $190M | $216M | $244M | $272M | $289M | $286M | $353M | |
| EPS (Basic) | $5.44 | $5.92 | $4.75 | $5.72 | $2.29 | $4.50 | $4.68 | $4.66 | $3.22 | $4.53 | $5.12 | $5.59 | $6.06 | $6.12 | $5.78 | $6.35 | |
| EPS (Diluted) | $5.39 | $5.85 | $4.68 | $5.65 | $2.26 | $4.45 | $4.62 | $4.61 | $3.20 | $4.49 | $5.11 | $5.54 | $6.02 | $6.07 | $5.72 | $6.31 | |
| Shares (Basic) | 33,500,000 | 34,700,000 | -76,800,000 | 37,600,000 | 37,800,000 | 39,000,000 | -81,800,000 | 39,900,000 | 40,400,000 | 42,000,000 | -91,200,000 | 43,600,000 | 45,000,000 | 47,200,000 | -119,100,000 | 55,500,000 | |
| Shares (Diluted) | 33,800,000 | 35,100,000 | -77,700,000 | 38,100,000 | 38,300,000 | 39,400,000 | -82,400,000 | 40,300,000 | 40,700,000 | 42,300,000 | -92,000,000 | 44,000,000 | 45,300,000 | 47,600,000 | -119,900,000 | 55,900,000 | |
| EBITDA | $319M | $314M | · | $372M | $218M | $336M | · | $351M | $275M | $340M | · | $420M | $439M | $443M | · | $522M |
Balance Sheet 25
| 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 | $53M | $66M | $59M | $98M | $63M | $70M | $60M | $60M | $86M | $60M | · | $64M | $64M | $58M | · | $443M | |
| Receivables | $600M | $600M | $693M | $622M | $629M | $764M | $774M | $673M | $641M | $643M | $762M | $629M | $593M | $542M | $634M | $464M | |
| Inventory | $3.74B | $3.44B | $3.40B | $3.49B | $3.45B | $3.23B | $3.36B | $3.53B | $3.55B | $3.00B | · | $2.65B | $2.57B | $2.20B | · | $1.85B | |
| Other Current Assets | $221M | $241M | $236M | $221M | $245M | $224M | $212M | $235M | $357M | $299M | · | $186M | $161M | $156M | · | $131M | |
| Current Assets | $4.85B | $4.58B | $4.65B | $4.69B | $4.62B | $4.55B | $4.70B | $4.75B | $4.85B | $4.24B | · | $3.77B | $3.64B | $3.15B | · | $3.08B | |
| PP&E (Net) | $4.04B | $3.95B | $3.96B | $3.93B | $3.80B | $3.80B | $3.79B | $3.78B | $3.78B | $3.77B | · | $3.72B | $3.71B | $3.66B | · | $3.50B | |
| PP&E (Gross) | · | · | $6.42B | · | · | · | $6.11B | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | $2.60B | $2.50B | $2.47B | $2.40B | $2.40B | $2.40B | $2.32B | $2.20B | $2.20B | $2.10B | · | $2.10B | $2.00B | $2.00B | · | $1.90B | |
| Goodwill | $1.42B | $1.41B | $1.41B | $1.40B | $1.39B | $1.45B | $1.45B | $1.45B | $1.45B | $1.45B | $1.47B | $1.46B | $1.46B | $1.45B | $1.32B | $1.23B | |
| Intangibles | $1.25B | $1.03B | $1.03B | $1.01B | $893M | $966M | $906M | $923M | $924M | $926M | · | $932M | $936M | $880M | · | $742M | |
| Other Non-current Assets | $892M | $845M | $754M | $760M | $720M | $701M | $705M | $711M | $708M | $711M | · | $666M | $614M | $566M | · | $558M | |
| Total Assets | $15.48B | $14.62B | $14.39B | $14.20B | $13.57B | $13.33B | $13.00B | $12.91B | $12.83B | $12.04B | $11.98B | $11.24B | $11.08B | $10.36B | $10.06B | $9.42B | |
| Accounts Payable | $339M | $377M | $370M | $352M | $340M | $332M | $377M | $299M | $339M | $347M | · | $342M | $391M | $347M | · | $344M | |
| Short-term Debt | $635M | $320M | $200M | $200M | $130M | $340M | $630M | $350M | $425M | $285M | · | $350M | $465M | $285M | · | $0 | |
| Current Liabilities | $6.20B | $5.63B | $5.54B | $5.91B | $5.69B | $5.88B | $6.31B | $5.96B | $6.22B | $5.38B | · | $4.53B | $4.41B | $3.78B | · | $2.94B | |
| Capital Leases | $428M | $418M | $432M | $435M | $420M | $430M | $357M | $368M | $373M | $384M | · | $339M | $340M | $300M | · | $282M | |
| Deferred Tax | $121M | $113M | $94M | $98M | $67M | $86M | $83M | $88M | $90M | $86M | · | $60M | $58M | $58M | · | $84M | |
| Other Non-current Liabilities | $428M | $409M | $399M | $399M | $390M | $381M | $381M | $378M | $370M | $367M | · | $349M | $349M | $345M | · | $326M | |
| Total Debt | $635M | $320M | · | $200M | $130M | $340M | · | $350M | $425M | $285M | · | $350M | $465M | $285M | · | $0 | |
| Common Stock | $600.0K | $600.0K | $600.0K | $600.0K | $600.0K | $600.0K | $600.0K | $600.0K | $600.0K | $600.0K | · | $600.0K | $600.0K | $600.0K | · | $800.0K | |
| Retained Earnings | $6.35B | $6.17B | $5.98B | $5.80B | $5.59B | $5.50B | $5.33B | $5.15B | $4.96B | $4.83B | · | $4.43B | $4.18B | $3.91B | · | $5.67B | |
| Treasury Stock | $4.11B | $3.95B | $3.67B | $3.31B | $3.13B | $3.10B | $2.90B | $2.79B | $2.79B | $2.47B | · | $2.30B | $2.10B | $1.89B | · | $3.43B | |
| Stockholders' Equity | $2.26B | $2.23B | $2.34B | $2.51B | $2.47B | $2.40B | $2.46B | $2.37B | $2.18B | $2.36B | $2.21B | $2.14B | $2.09B | $2.02B | $2.05B | $2.26B | |
| Liabilities + Equity | $15.48B | $14.62B | $14.39B | $14.20B | $13.57B | $13.33B | $13.00B | $12.91B | $12.83B | $12.04B | · | $11.24B | $11.08B | $10.36B | · | $9.42B | |
| Shares Outstanding | 33,100,000 | 33,900,000 | 35,200,000 | 36,900,000 | 37,700,000 | 37,900,000 | 39,000,000 | 39,600,000 | 39,700,000 | 41,600,000 | 41,600,000 | 42,800,000 | 44,000,000 | 45,600,000 | 47,600,000 | 52,300,000 |
Cash Flow 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $9M | $17M | $11M | $10M | $9M | $17M | $7M | $8M | $8M | $14M | $8M | $8M | $8M | $15M | $5M | $5M | |
| Operating Cash Flow | $-71M | $22M | $150M | $192M | $-178M | $-52M | $150M | $-70M | $-60M | $294M | $-39M | $256M | $-3M | $510M | $225M | $548M | |
| CapEx | $70M | $56M | $86M | $69M | $79M | $75M | $66M | $81M | $88M | $94M | $124M | $87M | $104M | $95M | $93M | $76M | |
| Investing Cash Flow | $-379M | $-49M | $-157M | $-319M | $-74M | $-136M | $44M | $104M | $-67M | $-69M | $-73M | $-10M | $-182M | $-306M | $-232M | $-99M | |
| Stock Repurchased | $169M | $301M | $362M | $176M | $33M | $221M | $104M | $6M | $311M | $39M | $151M | $200M | $208M | $316M | $522M | $393M | |
| Net Stock Activity | · | $-301M | · | · | · | $-221M | · | · | · | $-39M | · | · | · | $-316M | · | · | |
| Financing Cash Flow | $457M | $67M | $-33M | $156M | $220M | $215M | $-189M | $-46M | $155M | $-221M | $110M | $-253M | $186M | $-216M | $-340M | $-343M | |
| Net Change in Cash | $6M | $40M | $-40M | $29M | $-32M | $26M | $5M | $-11M | $29M | $4M | $-1M | $-7M | $2M | $-12M | $-348M | $106M | |
| Taxes Paid | $98M | $-700.0K | $58M | $47M | $190M | $700.0K | $8M | $32M | $109M | $200.0K | $34M | $76M | $190M | $700.0K | $114M | $116M | |
| Free Cash Flow | · | $-34M | · | · | · | $-128M | · | · | · | $201M | · | · | · | $415M | · | · |
Profitability 8
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 17.8% | 18.5% | · | 17.6% | 18.3% | 18.2% | · | 18.0% | 17.9% | 18.5% | · | 18.8% | 19.4% | 20.1% | · | 19.7% | |
| Operating Margin | 4.6% | 4.8% | · | 5.3% | 3.1% | 5.0% | · | 5.3% | 4.2% | 5.2% | · | 6.1% | 6.4% | 6.9% | · | 7.8% | |
| Net Margin | 2.6% | 3.1% | · | 3.1% | 1.2% | 2.6% | · | 2.8% | 2.0% | 2.9% | · | 3.5% | 4.0% | 4.5% | · | 5.3% | |
| Pretax Margin | · | · | · | · | · | · | · | 3.8% | 2.7% | 3.9% | · | 4.8% | 5.3% | 5.9% | · | 7.1% | |
| EBITDA Margin | 4.6% | 4.8% | · | 5.3% | 3.1% | 5.0% | · | 5.3% | 4.2% | 5.2% | · | 6.1% | 6.4% | 6.9% | · | 7.8% | |
| ROA | 1.2% | 1.5% | · | 1.6% | 0.65% | 1.4% | · | 1.5% | 1.1% | 1.7% | · | 2.4% | 2.7% | 2.9% | · | 4.0% | |
| ROE | 7.7% | 8.9% | · | 8.8% | 3.7% | 7.4% | · | 8.2% | 6.1% | 8.7% | · | 11.1% | 12.3% | 13.2% | · | 15.3% | |
| ROIC | · | · | · | · | · | · | · | 9.7% | 7.9% | 9.7% | · | 12.5% | 12.8% | 14.5% | · | 17.3% |
Liquidity & Solvency 3
| 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 | 0.8 | 0.8 | · | 0.8 | 0.8 | 0.8 | · | 0.8 | 0.8 | 0.8 | · | 0.8 | 0.8 | 0.8 | · | 1.0 | |
| Quick Ratio | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.2 | 0.1 | 0.2 | · | 0.3 | |
| Debt / Equity | 0.3 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.2 | 0.1 | · | 0.2 | 0.2 | 0.1 | · | 0.0 |
Efficiency 3
| 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 | 0.5 | 0.5 | · | 0.5 | 0.5 | 0.5 | · | 0.5 | 0.5 | 0.6 | · | 0.7 | 0.7 | 0.6 | · | 0.8 | |
| Inventory Turnover | 1.6 | 1.6 | · | 1.7 | 1.6 | 1.8 | · | 1.7 | 1.7 | 2.0 | · | 2.5 | 2.5 | 2.6 | · | 3.2 | |
| Receivables Turnover | 11.3 | 9.6 | · | 10.9 | 11.0 | 9.5 | · | 10.1 | 10.5 | 10.9 | · | 12.6 | 12.4 | 11.5 | · | 14.4 |
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 | $27.49B | $27.25B | · | $27.29B | $26.73B | $26.24B | · | $26.44B | $26.75B | $26.67B | · | $26.85B | $26.82B | $26.69B | · | $26.67B | |
| Net Income TTM | $689M | $682M | · | $663M | $578M | $682M | · | $750M | $836M | $995M | · | $1.16B | $1.29B | $1.38B | · | $1.45B | |
| Market Cap | $6.15B | $6.62B | · | $8.07B | $7.49B | $6.14B | · | $7.09B | $6.33B | $6.89B | · | $6.48B | $7.24B | $6.13B | · | $5.33B | |
| Enterprise Value | $6.73B | $6.87B | · | $8.18B | $7.56B | $6.41B | · | $7.38B | $6.67B | $7.11B | · | $6.77B | $7.64B | $6.35B | · | $4.88B | |
| P/E | 9.7 | 10.7 | · | 12.9 | 13.7 | 9.7 | · | 10.0 | 8.3 | 7.5 | · | 6.3 | 6.6 | 5.5 | · | 4.3 | |
| P/S | 0.2 | 0.2 | · | 0.3 | 0.3 | 0.2 | · | 0.3 | 0.2 | 0.3 | · | 0.2 | 0.3 | 0.2 | · | 0.2 | |
| P/B | 2.7 | 3.0 | · | 3.2 | 3.0 | 2.6 | · | 3.0 | 2.9 | 2.9 | · | 3.0 | 3.5 | 3.0 | · | 2.4 | |
| P / Tangible Book | · | · | · | 76.8 | 39.2 | · | · | 7085.2 | · | · | · | · | · | · | · | 19.1 | |
| P / Cash Flow | · | 298.2 | · | · | · | -116.9 | · | · | · | 23.4 | · | · | · | 12.0 | · | · | |
| P / FCF | · | -193.5 | · | · | · | -48.1 | · | · | · | 34.3 | · | · | · | 14.8 | · | · | |
| EV / EBITDA | 21.1 | 21.9 | · | 22.0 | 34.7 | 19.1 | · | 21.0 | 24.2 | 20.9 | · | 16.1 | 17.4 | 14.3 | · | 9.3 | |
| EV / FCF | · | -201.0 | · | · | · | -50.2 | · | · | · | 35.4 | · | · | · | 15.3 | · | · | |
| EV / Revenue | 0.2 | 0.3 | · | 0.3 | 0.3 | 0.2 | · | 0.3 | 0.2 | 0.3 | · | 0.3 | 0.3 | 0.2 | · | 0.2 | |
| Earnings Yield | 10.3% | 9.3% | · | 7.8% | 7.3% | 10.3% | · | 10.0% | 12.1% | 13.4% | · | 15.8% | 15.1% | 18.3% | · | 23.3% |
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 | $27.63B | $26.77B | $26.95B | $26.98B | $25.84B |
| Gross Margin % | 17.9% | 17.9% | 19.0% | 19.5% | 19.2% |
| Operating Margin % | 4.5% | 4.9% | 6.1% | 7.5% | 7.4% |
| Net Income | $649M | $692M | $1.02B | $1.38B | $1.37B |
| Diluted EPS | $17.04 | $16.92 | $22.74 | $24.29 | $18.31 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.1 | 0.3 | 0.2 | 0.0 | 0.1 |
| Current Ratio | 0.8 | 0.7 | 0.8 | 0.9 | 0.9 |
| Quick Ratio | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-198M | $-14M | $314M | $1.34B | $1.41B |
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Institutional owners (13F) 541 filers · $3.0B 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.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 64 (-4 vs prior Q) | 60 (-9 vs prior Q) | 149 (-20 vs prior Q) | 192 (+13 vs prior Q) | +2.0M |
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 |
|---|---|---|---|---|
| Brave Warrior Advisors, LLC | $283,166,998 | 1,524,124 | 9.52% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $262,239,984 | 1,411,486 | 8.82% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $255,721,542 | 1,376,402 | 8.60% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $253,201,858 | 1,362,839 | 8.51% | Shares |
| STATE STREET CORP | $161,416,396 | 868,811 | 5.43% | Shares |
| Alyeska Investment Group, L.P. | $134,163,790 | 722,126 | 4.51% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $70,965,020 | 381,848 | 2.39% | Shares |
| LYRICAL ASSET MANAGEMENT LP | $66,962,060 | 360,418 | 2.25% | Shares |
| GAMCO INVESTORS, INC. ET AL | $58,898,774 | 317,018 | 1.98% | Shares |
| NORGES BANK | $57,184,676 | 307,792 | 1.92% | Shares |
| D. E. Shaw & Co., Inc. | $56,303,474 | 303,049 | 1.89% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $54,369,586 | 292,640 | 1.83% | Shares |
| GABELLI FUNDS LLC | $43,354,097 | 233,350 | 1.46% | Shares |
| Simcoe Capital Management, LLC | $42,038,703 | 226,270 | 1.41% | Shares |
| HORIZON KINETICS ASSET MANAGEMENT LLC | $39,557,879 | 212,917 | 1.33% | Shares |
| VANGUARD GROUP INC | $35,491,434 | 171,888 | 1.19% | Shares |
| FMR LLC | $34,174,398 | 183,941 | 1.15% | Shares |
| WEDGE CAPITAL MANAGEMENT L L P/NC | $33,751,472 | 172,854 | 1.13% | Shares |
| GREATMARK INVESTMENT PARTNERS, INC. | $31,203,988 | 167,953 | 1.05% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $30,476,248 | 164,036 | 1.02% | Shares |
| AMERICAN CENTURY COMPANIES INC | $27,145,591 | 146,109 | 0.91% | Shares |
| FULLER & THALER ASSET MANAGEMENT, INC. | $26,870,078 | 144,626 | 0.90% | Shares |
| Gotham Asset Management, LLC | $25,764,057 | 138,673 | 0.87% | Shares |
| Allianz Asset Management GmbH | $24,662,508 | 132,744 | 0.83% | Shares |
| PRUDENTIAL FINANCIAL INC | $22,325,270 | 120,164 | 0.75% | Shares |
| GOLDMAN SACHS GROUP INC | $21,526,187 | 115,863 | 0.72% | Shares |
| Qube Research & Technologies Ltd | $21,052,236 | 113,312 | 0.71% | Shares |
| Covalis Capital LLP | $20,862,545 | 112,291 | 0.70% | Shares |
| BANK OF AMERICA CORP /DE/ | $20,441,731 | 110,026 | 0.69% | Shares |
| Quantinno Capital Management LP | $16,641,578 | 89,571 | 0.56% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $15,770,041 | 84,881 | 0.53% | Shares |
| Squarepoint Ops LLC | $15,184,617 | 81,730 | 0.51% | Shares |
| RHUMBLINE ADVISERS | $14,620,312 | 78,693 | 0.49% | Shares |
| PRIVATE MANAGEMENT GROUP INC | $14,469,139 | 77,879 | 0.49% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $13,934,250 | 75,000 | 0.47% | Shares |
| BlackRock, Inc. | $13,823,148 | 74,402 | 0.46% | Shares |
| Woodline Partners LP | $13,563,599 | 73,005 | 0.46% | Shares |
| Schonfeld Strategic Advisors LLC | $13,357,370 | 71,895 | 0.45% | Shares |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | $13,341,580 | 71,810 | 0.45% | Shares |
| BARCLAYS PLC | $13,039,672 | 70,185 | 0.44% | Shares |
| Retirement Systems of Alabama | $12,554,388 | 67,573 | 0.42% | Shares |
| ALLIANCEBERNSTEIN L.P. | $12,258,618 | 62,781 | 0.41% | Shares |
| Brandywine Global Investment Management, LLC | $11,824,903 | 57,269 | 0.40% | Shares |
| Mountain Lake Investment Management LLC | $10,823,568 | 58,257 | 0.36% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $10,535,965 | 56,709 | 0.35% | Shares |
| California Public Employees Retirement System | $9,951,841 | 53,565 | 0.33% | Shares |
| Mitsubishi UFJ Trust & Banking Corp | $9,653,463 | 51,959 | 0.32% | Shares |
| Swiss National Bank | $9,605,343 | 51,700 | 0.32% | Shares |
| AMERIPRISE FINANCIAL INC | $9,102,781 | 48,995 | 0.31% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $8,843,604 | 47,600 | 0.30% | Put option |
| INVESTMENT HOUSE LLC | $8,486,887 | 45,680 | 0.29% | Shares |
| ING GROEP NV | $8,348,659 | 44,936 | 0.28% | Shares |
| LPL Financial LLC | $8,047,011 | 43,312 | 0.27% | Shares |
| Mariner, LLC | $7,421,097 | 39,940 | 0.25% | Shares |
| Engineers Gate Manager LP | $7,316,224 | 39,379 | 0.25% | Shares |
| CHILTON INVESTMENT CO INC. | $6,960,251 | 37,463 | 0.23% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $6,839,116 | 36,811 | 0.23% | Shares |
| FIRST TRUST ADVISORS LP | $6,754,395 | 36,355 | 0.23% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $6,753,480 | 36,350 | 0.23% | Shares |
| STOREBRAND ASSET MANAGEMENT AS | $6,617,840 | 35,620 | 0.22% | Shares |
| CITADEL ADVISORS LLC | $6,610,222 | 35,579 | 0.22% | Shares |
| Susquehanna Portfolio Strategies, LLC | $6,551,699 | 35,264 | 0.22% | Shares |
| S.A.C. Capital Advisors (Hong Kong) Ltd. | $6,340,101 | 28,981 | 0.21% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $6,238,166 | 31,948 | 0.21% | Shares |
| Nuveen Asset Management, LLC | $6,185,063 | 36,417 | 0.21% | Shares |
| TWO SIGMA INVESTMENTS, LP | $5,827,489 | 31,366 | 0.20% | Shares |
| RAYMOND JAMES FINANCIAL INC | $5,724,654 | 30,813 | 0.19% | Shares |
| Numerai GP LLC | $5,527,996 | 29,754 | 0.19% | Shares |
| Cubist Systematic Strategies, LLC | $5,391,809 | 24,646 | 0.18% | Shares |
| INTECH INVESTMENT MANAGEMENT LLC | $5,294,273 | 28,496 | 0.18% | Shares |
| Nuveen, LLC | $5,275,135 | 28,393 | 0.18% | Shares |
| FERGUSON WELLMAN CAPITAL MANAGEMENT, INC | $5,221,256 | 28,103 | 0.18% | Shares |
| JB Capital LLC | $5,211,423 | 28,050 | 0.18% | Shares |
| Livforsakringsbolaget Skandia, Omsesidigt | $5,203,679 | 26,650 | 0.17% | Shares |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $4,947,402 | 26,629 | 0.17% | Shares |
| IEQ CAPITAL, LLC | $4,849,491 | 26,102 | 0.16% | Shares |
| Garner Asset Management Corp | $4,749,907 | 24,751 | 0.16% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $4,745,077 | 25,540 | 0.16% | Shares |
| HCR Wealth Advisors | $4,517,205 | 24,313 | 0.15% | Shares |
| PECAUT & CO. | $4,379,070 | 23,570 | 0.15% | Shares |
| Hudson Bay Capital Management LP | $4,213,903 | 22,681 | 0.14% | Shares |
| NEUBERGER BERMAN GROUP LLC | $4,199,049 | 22,601 | 0.14% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $4,160,395 | 22,393 | 0.14% | Shares |
| Campbell & CO Investment Adviser LLC | $4,081,435 | 21,968 | 0.14% | Shares |
| CONSCIOUS WEALTH INVESTMENTS, LLC | $4,072,895 | 20,521 | 0.14% | Shares |
| FIFTH THIRD BANCORP | $3,930,272 | 21,154 | 0.13% | Shares |
| Dana Investment Advisors, Inc. | $3,886,169 | 20,917 | 0.13% | Shares |
| Prosperitas Financial LLC | $3,766,864 | 19,292 | 0.13% | Shares |
| Vanguard Global Advisers, LLC | $3,753,330 | 20,202 | 0.13% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $3,672,325 | 19,766 | 0.12% | Shares |
| MMCAP International Inc. SPC | $3,663,407 | 19,718 | 0.12% | Shares |
| EVOLVE PRIVATE WEALTH, LLC | $3,600,610 | 19,380 | 0.12% | Shares |
| Grove Bank & Trust | $3,530,010 | 19,000 | 0.12% | Shares |
| Trexquant Investment LP | $3,493,038 | 18,801 | 0.12% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $3,473,716 | 18,697 | 0.12% | Shares |
| CWM, LLC | $3,312,976 | 16,967 | 0.11% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $3,294,953 | 22,081 | 0.11% | Shares |
| CITADEL ADVISORS LLC | $3,269,904 | 17,600 | 0.11% | Put option |
| Bridgewater Associates, LP | $3,207,664 | 17,265 | 0.11% | Shares |
| HITE Hedge Asset Management LLC | $3,157,315 | 16,994 | 0.11% | Shares |
Company insiders 59 insiders · 30 officers · 27 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Michael Mark Manley | CEO and Director | March 1, 2026 A | 151,586 | 0 | 0 | $0 |
| Michael J Jackson | CEO and Director | Oct. 25, 2021 M | 115,285 | 0 | 0 | $0 |
| Cheryl Scully | CEO and President, Director | March 1, 2020 M | 40,383 | 0 | 0 | $0 |
| Carl C Liebert III | CEO and President | May 15, 2019 P | 2,575 | 0 | 0 | $0 |
| Joseph T Lower | EVP & CFO | July 31, 2023 S | 16,075 | 0 | 0 | $0 |
| Michael J Short | EVP and CFO | Dec. 2, 2013 A | 26,579 | 0 | 0 | $0 |
| Craig T Monaghan | EVP, CFO | Aug. 7, 2006 M | 10,000 | 0 | 0 | $0 |
| James R Bender | President and COO | March 1, 2022 M | 28,090 | 0 | 0 | $0 |
| Michael E Maroone | Director, President and COO | Dec. 11, 2014 S | 1,311,147 | 0 | 0 | $0 |
| Jeff Parent | COO | March 1, 2026 A | 4,161 | 0 | 0 | $0 |
| Gianluca Camplone | COO, AN Parts & EVP, Bus Dev | March 1, 2026 A | 33,340 | 0 | 0 | $0 |
| David L Koehler | COO, Non-Franchised Business | March 1, 2025 A | 15,919 | 0 | 0 | $0 |
| Steve Kwak | COO Franchised Business | March 8, 2023 M | 7,955 | 0 | 0 | $0 |
| Lance E Iserman | EVP, Sales & COO | June 1, 2018 F | 5,583 | 0 | 0 | $0 |
| William R Berman | EVP and COO | June 8, 2016 S | 1,814 | 0 | 0 | $0 |
| Kimberly Dees | SVP & CAO | May 5, 2026 S | 1,456 | 0 | 1 | $-512,250 |
| Coleman C Edmunds | EVP, Gen Counsel & Corp Sec | March 1, 2026 A | 30,521 | 0 | 0 | $0 |
| Lisa Esparza | EVP and CHIEF HR OFFICER | March 1, 2025 A | 1,629 | 0 | 0 | $0 |
| Marc G Cannon | EVP & Chief Cust Exp Officer | March 9, 2023 S | 18,279 | 0 | 0 | $0 |
| Christopher Cade | SVP and CAO | Dec. 12, 2022 F | 0 | 0 | 0 | $0 |
| Scott H Arnold | EVP-Cust Care/Brand Extensions | March 1, 2019 M | 9,248 | 0 | 0 | $0 |
| Thomas M Conophy | EVP and CTO | Oct. 31, 2018 F | 8,410 | 0 | 0 | $0 |
| Donna L Parlapiano | EVP, Franchise Ops/M&A/RE | June 1, 2018 F | 13,249 | 0 | 0 | $0 |
| Dennis G Berger | EVP & CHIEF HR OFFICER | April 2, 2018 A | — | 0 | 0 | $0 |
| Jonathan P Ferrando | EVP - GC, Corp Dev & HR | March 16, 2017 S | 33,000 | 0 | 0 | $0 |
| Alan J Mclaren | SVP, Customer Care | July 31, 2015 M | 15,801 | 0 | 0 | $0 |
| Michael J Stephan | VP - Corporate Controller | March 2, 2015 A | 4,597 | 0 | 0 | $0 |
| Kevin P Westfall | SVP - Sales | Sept. 1, 2011 A | 8,598 | 0 | 0 | $0 |
| Alex J Mcallister | VP - Corporate Controller | Feb. 12, 2007 M | 0 | 0 | 0 | $0 |
| Peter C Smith | SVP - Human Resources | Nov. 3, 2003 M | 1,457 | 0 | 0 | $0 |
| Jacqueline A Travisano | Director | Jan. 2, 2026 A | 8,889 | 0 | 0 | $0 |
| Norman K. Jenkins | Director | Jan. 2, 2026 A | 12,560 | 0 | 0 | $0 |
| Claire M. Bennett | Director | Jan. 2, 2026 A | 2,707 | 0 | 0 | $0 |
| George Lawrence Mikan III | Director | Jan. 2, 2026 A | 22,170 | 0 | 0 | $0 |
| David B Edelson | Director | Jan. 2, 2026 A | 51,500 | 0 | 0 | $0 |
| Robert R Grusky | Director | Jan. 2, 2026 A | 47,302 | 0 | 0 | $0 |
| Rick L Burdick | Director | Jan. 2, 2026 A | 22,434 | 0 | 0 | $0 |
| Steven L Gerard | Director | Jan. 3, 2022 A | 11,973 | 0 | 0 | $0 |
| Thomas J Baltimore Jr | Director | Jan. 4, 2021 A | 8,781 | 0 | 0 | $0 |
| Kaveh Khosrowshahi | Director | Jan. 2, 2019 A | 21,030 | 0 | 0 | $0 |
| Tomago Collins | Director | Jan. 2, 2019 A | 26,030 | 0 | 0 | $0 |
| Alison H Rosenthal | Director | Jan. 2, 2019 A | 31,030 | 0 | 0 | $0 |
| Karen C Francis | Director | Jan. 2, 2018 A | 10,337 | 0 | 0 | $0 |
| Michael Larson | Director | Jan. 2, 2018 A | 27,096 | 0 | 0 | $0 |
| Robert J Brown | Director | Jan. 4, 2016 A | 14,459 | 0 | 0 | $0 |
| Carlos A Migoya | Director | Jan. 2, 2015 A | 25,150 | 0 | 0 | $0 |
| William C Crowley | Director | March 1, 2013 A | 0 | 0 | 0 | $0 |
| Kim C Goodman | Director | Jan. 4, 2010 A | 4,375 | 0 | 0 | $0 |
| Irene B Rosenfeld | Director | Feb. 23, 2007 M | 8,000 | 0 | 0 | $0 |
| BRYAN J P | Director | Jan. 3, 2006 A | 0 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 18 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 |
|---|---|---|---|---|---|
| Cascade Investment, L.L.C., William H. Gates III ×31 filings | May 5, 2026 | 21.10% | Amendment | — | SEC |
| AutoNation, Inc., Auto Holdings, LLC ×3 filings | Jan. 21, 2026 | 0.00% | Amendment | — | SEC |
| ESL Partners, L.P., RBS Partners, L.P., ESL Investments, Inc., The Lampert Foundation, Edward S. Lampert ×56 filings | Sept. 8, 2025 | 4.60% | Amendment | — | SEC |
| ESL Partners, L.P. (2), ESL Investors, L.L.C. (2), SPE II Partners, LP (2), SPE Master II, LP (2), RBS Partners, L.P. (2), ESL Institutional Partners, L.P. (2), RBS Investment Management, L.L.C. (2), CBL Partners, L.P. (2), ESL Investments, Inc. (2), Edward S. Lampert (2) | Nov. 28, 2012 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | March 26, 2007 | — | Initial filing | Board campaign | SEC |
| ESL Partners, L.P., a Delaware limited partnership, ESL Institutional Partners, L.P., a Delaware limited partnership, ESL Investors, L.L.C., a Delaware limited liability company, ESL Investments, Inc., a Delaware corporation, CBL Partners, L.P., a Delaware limited partnership, Tynan, LLC, a Delaware limited liability company, ESL Investment Management, L.P., a Delaware limited partnership, RBS Partners, L.P., a Delaware limited partnership, RBS Investment Management, LLC, a Delaware limited liability company, Edward S. Lampert, William C. Crowley ×4 filings | Feb. 28, 2007 | — | Initial filing | Board campaign | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | May 10, 2006 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | April 20, 2006 | — | Initial filing | M&A / sale | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | March 7, 2006 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | July 3, 2003 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | June 4, 2002 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Jan. 30, 2002 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Nov. 19, 2001 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Nov. 7, 2001 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Nov. 7, 2001 | — | 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 109 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 |
|---|---|---|---|---|
| XMVM · Invesco Exchange-Traded Fund Trust | 1.99% | 48,300 SH | Aug. 8, 2026 | Daily |
| RWK · Invesco Exchange-Traded Fund Trust … | 1.17% | 75,691 SH | Aug. 8, 2026 | Daily |
| RFV · Invesco Exchange-Traded Fund Trust | 1.13% | 18,333 SH | Aug. 8, 2026 | Daily |
| RETL · Direxion Shares ETF Trust | 1.10% | 1,636 NS | April 30, 2026 | N-PORT |
| FXD · First Trust Exchange-Traded AlphaDE… | 0.90% | 11,189 NS | April 30, 2026 | N-PORT |
| TAX · EA Series Trust | 0.86% | 1,165 NS | May 29, 2026 | N-PORT |
| PAMC · Pacer Funds Trust | 0.60% | 1,769 NS | April 30, 2026 | N-PORT |
| FNK · First Trust Exchange-Traded AlphaDE… | 0.46% | 4,663 NS | April 30, 2026 | N-PORT |
| MILN · Global X Funds | 0.39% | 2,004 NS | May 31, 2026 | N-PORT |
| SMDX · Tidal Trust III | 0.35% | 2,043 NS | April 30, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.34% | 221,211 NS | April 30, 2026 | N-PORT |
| JPME · J.P. Morgan Exchange-Traded Fund Tr… | 0.32% | 6,622 NS | April 30, 2026 | N-PORT |
| IJJ · iShares Trust | 0.30% | 127,650 SH | Aug. 8, 2026 | Daily |
| FNX · First Trust Exchange-Traded AlphaDE… | 0.30% | 18,637 NS | April 30, 2026 | N-PORT |
| IVOV · VANGUARD ADMIRAL FUNDS | 0.27% | 21,551 SH | Aug. 8, 2026 | Daily |
| IQSM · New York Life Investments ETF Trust | 0.24% | 3,584 NS | April 30, 2026 | N-PORT |
| DFVE · DoubleLine ETF Trust | 0.23% | 323 NS | March 31, 2026 | N-PORT |
| MIDE · DBX ETF Trust | 0.20% | 35 NS | May 29, 2026 | N-PORT |
| PKW · Invesco Exchange-Traded Fund Trust | 0.19% | 15,903 SH | Aug. 8, 2026 | Daily |
| FBCV · FIDELITY COVINGTON TRUST | 0.18% | 1,354 NS | April 30, 2026 | N-PORT |
| JMOM · J.P. Morgan Exchange-Traded Fund Tr… | 0.17% | 17,637 NS | April 30, 2026 | N-PORT |
| JVAL · J.P. Morgan Exchange-Traded Fund Tr… | 0.17% | 5,829 NS | April 30, 2026 | N-PORT |
| XJH · iShares Trust | 0.17% | 3,387 SH | Aug. 8, 2026 | Daily |
| PTMC · Pacer Funds Trust | 0.16% | 2,988 NS | April 30, 2026 | N-PORT |
| ISCV · iShares Trust | 0.16% | 5,332 SH | Aug. 8, 2026 | Daily |
| AVMV · AMERICAN CENTURY ETF TRUST | 0.16% | 5,322 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.16% | 106,047 NS | April 30, 2026 | N-PORT |
| QVMM · Invesco Exchange-Traded Fund Trust … | 0.16% | 3,363 SH | Aug. 8, 2026 | Daily |
| EBI · RBB Fund Trust | 0.16% | 5,557 NS | May 31, 2026 | N-PORT |
| GMOV · GMO ETF Trust | 0.16% | 767 NS | May 31, 2026 | N-PORT |
| BKMC · BNY Mellon ETF Trust | 0.16% | 4,562 NS | April 30, 2026 | N-PORT |
| PFIG · Invesco Exchange-Traded Fund Trust … | 0.16% | 190,000 | Aug. 8, 2026 | Daily |
| FSMD · FIDELITY COVINGTON TRUST | 0.15% | 17,027 NS | April 30, 2026 | N-PORT |
| IJH · iShares Trust | 0.15% | 866,665 SH | Aug. 8, 2026 | Daily |
| BSCT · Invesco Exchange-Traded Self-Indexe… | 0.14% | 4,136,000 | Aug. 8, 2026 | Daily |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.14% | 900 NS | April 30, 2026 | N-PORT |
| BSCU · Invesco Exchange-Traded Self-Indexe… | 0.13% | 3,582,000 | Aug. 8, 2026 | Daily |
| VBR · VANGUARD INDEX FUNDS | 0.13% | 462,808 SH | Aug. 8, 2026 | Daily |
| VFVA · VANGUARD WELLINGTON FUND | 0.13% | 5,898 SH | Aug. 8, 2026 | Daily |
| IVOO · VANGUARD ADMIRAL FUNDS | 0.13% | 40,495 SH | Aug. 8, 2026 | Daily |
| VCR · VANGUARD WORLD FUND | 0.13% | 49,135 SH | Aug. 8, 2026 | Daily |
| FDIS · FIDELITY COVINGTON TRUST | 0.12% | 10,129 NS | April 30, 2026 | N-PORT |
| ESML · iShares Trust | 0.12% | 16,179 SH | Aug. 8, 2026 | Daily |
| IEDI · iShares U.S. ETF Trust | 0.11% | 155 SH | Aug. 8, 2026 | Daily |
| AVLV · AMERICAN CENTURY ETF TRUST | 0.11% | 78,317 NS | May 31, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.11% | 10,552 NS | April 30, 2026 | N-PORT |
| MIDU · Direxion Shares ETF Trust | 0.11% | 431 NS | April 30, 2026 | N-PORT |
| MVV · ProShares Trust | 0.11% | 900 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.10% | 125,300 NS | May 31, 2026 | N-PORT |
| SCHM · SCHWAB STRATEGIC TRUST | 0.09% | 70,408 NS | May 31, 2026 | N-PORT |