AXS Axis Capital Holdings Limited Common Stock
$100.99
Price · Aug 18, 2026
Fundamentals as of Jul 28, 2026
52W Range
$88–$120
40% of range
Analyst Rating
BUY
17 analysts
Price Target
$124
+23% upside
P/E (TTM)
8.2
ROE
16.2%
Net Profit Margin
15.4%
AXS Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$100.99
Market Cap
$7.49B
P/E (TTM)
8.2
EPS (TTM)
$12.35
Revenue (TTM)
$6.56B
Div Yield
1.9%
ROE
16.2%
Debt/Equity
—
52W Range
$88 – $120
AXS 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
$6.56B
2016-12-31
→
2025-12-31
EPS
$12.35
2016-12-31
→
2025-12-31
Free Cash Flow
—
Margins
15.4%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
AXS
Peer Median
P/E (TTM)
8.2
7.5
P/S (TTM)
1.1
1.6
P/B
1.2
1.1
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
AXS
Peer Median
Net Profit Margin
15.4%
23.6%
ROA
3.0%
4.6%
ROE
16.2%
18.2%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
AXS
Peer Median
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
AXS
Peer Median
Revenue YoY
10.2%
—
Revenue CAGR 3Y
8.5%
—
Revenue CAGR 5Y
6.3%
—
EPS YoY
0.00%
—
Net Income YoY
-6.7%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
AXS
Peer Median
Payout Ratio
14.1%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
1.9%
Payout Ratio
14.1%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| June 30, 2026 | $0.4400 |
| March 31, 2026 | $0.4400 |
| June 30, 2025 | $0.4400 |
| March 31, 2025 | $0.4400 |
| Dec. 31, 2024 | $0.4400 |
| Sept. 30, 2024 | $0.4400 |
| June 28, 2024 | $0.4400 |
| March 1, 2024 | $0.4400 |
| Dec. 28, 2023 | $0.4400 |
| Sept. 29, 2023 | $0.4400 |
| June 29, 2023 | $0.4400 |
| March 30, 2023 | $0.4400 |
| Dec. 29, 2022 | $0.4400 |
| Sept. 30, 2022 | $0.4300 |
| June 29, 2022 | $0.4300 |
| March 30, 2022 | $0.4300 |
| Dec. 29, 2021 | $0.4300 |
| Oct. 1, 2021 | $0.4200 |
| June 28, 2021 | $0.4200 |
| March 30, 2021 | $0.4200 |
AXS Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
17 analysts
- Strong Buy 2 11.8%
- Buy 9 52.9%
- Hold 6 35.3%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
11 analysts · 2026-08-14
Median
$126.00
← Below all targets
$100.99
Low
$108.00
High
$131.00
Median target
$126.00
+24.8%
Mean target
$124.18
+23.0%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.13%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $2.84 | $3.30 | -0.46% |
| March 31, 2026 | $3.42 | $3.38 | 0.04% |
| Dec. 31, 2025 | $3.25 | $3.15 | 0.10% |
| Sept. 30, 2025 | $3.25 | $2.95 | 0.30% |
| June 30, 2025 | $3.29 | $2.96 | 0.33% |
| March 31, 2025 | $3.17 | $2.69 | 0.48% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| AXS | $7.94B | 8.7 | 10.2% | 15.4% | 16.2% | — |
| ACGL | — | — | — | — | — | — |
| HG | $2.76B | 5.0 | 24.7% | 28.9% | 32.6% | — |
| AGO | $4.06B | 8.8 | 27.3% | 45.3% | 9.0% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.56B | $5.96B | $5.64B | $5.14B | $5.32B | $4.84B | $5.17B | $5.09B | $4.59B | $4.01B | $4.13B | $4.35B | |
| SG&A Expense | $704M | $666M | $684M | $680M | $663M | $580M | $635M | $627M | $579M | $603M | $597M | $622M | |
| Interest Expense | $67M | $68M | $68M | $63M | $62M | $75M | $68M | $67M | $55M | $51M | $51M | $75M | |
| Pretax Income | $1.23B | $1.03B | $403M | $245M | $681M | $-133M | $347M | $14M | $-377M | $520M | $645M | $830M | |
| Income Tax | $217M | $-56M | $26M | $22M | $62M | $-12M | $24M | $-29M | $-8M | $6M | $3M | $26M | |
| Net Income | $1.01B | $1.08B | $376M | $223M | $619M | $-120M | $323M | $43M | $-369M | $513M | $642M | $811M | |
| EPS (Basic) | $12.52 | $12.49 | $4.06 | $2.27 | $6.95 | $-1.79 | $3.37 | $0.00 | $-4.94 | $5.13 | $6.10 | $7.38 | |
| EPS (Diluted) | $12.35 | $12.35 | $4.02 | $2.25 | $6.90 | $-1.79 | $3.34 | $0.00 | $-4.94 | $5.08 | $6.04 | $7.29 | |
| Shares (Basic) | 78,192,000 | 84,165,000 | 85,142,000 | 84,864,000 | 84,707,000 | 84,262,000 | 83,894,000 | 83,501,000 | 84,108,000 | 90,772,000 | 98,609,000 | 104,368,000 | |
| Shares (Diluted) | 79,266,000 | 85,176,000 | 86,012,000 | 85,669,000 | 85,291,000 | 84,262,000 | 84,473,000 | 84,007,000 | 84,108,000 | 91,547,000 | 99,629,000 | 105,713,000 |
Balance Sheet 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $820M | $2.14B | $953M | $751M | $845M | $903M | $1.24B | $1.23B | $949M | $1.04B | $988M | $922M | |
| Goodwill | $66M | $66M | $101M | $101M | $101M | $101M | $102M | $102M | $102M | $47M | $47M | $47M | |
| Intangibles | $166M | $176M | $187M | $198M | $209M | $220M | $231M | $242M | $258M | $38M | $14M | $16M | |
| Total Assets | $34.46B | $32.68B | $30.25B | $27.68B | $27.37B | $25.88B | $25.60B | $24.13B | $24.76B | $20.81B | $19.98B | $19.96B | |
| Total Liabilities | $28.11B | $26.59B | $24.99B | $23.04B | $21.96B | $20.58B | $20.06B | $19.10B | $19.42B | $14.54B | $14.12B | $14.08B | |
| Common Stock | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Retained Earnings | $8.18B | $7.34B | $6.44B | $6.25B | $6.20B | $5.76B | $6.06B | $5.91B | $5.98B | $6.53B | $6.19B | $5.72B | |
| Treasury Stock | $4.81B | $3.93B | $3.75B | $3.77B | $3.75B | $3.76B | $3.78B | $3.79B | $3.81B | $3.56B | $3.01B | $2.76B | |
| AOCI | $28M | $-268M | $-366M | $-760M | $57M | $414M | $172M | $-177M | $92M | $-122M | $-188M | $-46M | |
| Stockholders' Equity | $6.36B | $6.09B | $5.26B | $4.64B | $5.41B | $5.30B | $5.54B | $5.03B | $5.34B | $6.27B | $5.87B | $5.82B | |
| Liabilities + Equity | $34.46B | $32.68B | $30.25B | $27.68B | $27.37B | $25.88B | $25.60B | $24.13B | $24.76B | $20.81B | $19.98B | $19.96B | |
| Shares Outstanding | 74,135,000 | 82,984,000 | 85,286,000 | 84,668,000 | 84,774,000 | 84,353,000 | 83,959,000 | 83,586,000 | 83,161,000 | 86,441,000 | 96,066,000 | 99,426,000 |
Cash Flow 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $45M | $43M | $54M | $48M | $38M | $29M | $32M | $34M | $13M | $52M | $43M | $63M | |
| Amort. of Intangibles | $10M | $11M | $11M | $11M | $12M | $11M | $12M | $14M | $3M | $0 | $0 | $2M | |
| Restructuring | · | · | · | · | · | · | · | · | $0 | $0 | $46M | · | |
| Operating Cash Flow | $-41M | $1.84B | $1.26B | $798M | $1.20B | $344M | $199M | $11M | $259M | $407M | $791M | $862M | |
| Investing Cash Flow | $-629M | $280M | $-856M | $-762M | $-1.20B | $490M | $-774M | $639M | $392M | $-129M | $-226M | $-154M | |
| Stock Issued | · | · | · | · | · | · | · | $0 | $0 | $224.0K | $4M | $6M | |
| Stock Repurchased | $888M | $200M | $0 | $35M | $0 | $0 | $0 | $0 | $261M | $495M | $314M | $543M | |
| Net Stock Activity | $-888M | $-200M | $0 | $-35M | · | · | $0 | $0 | $-261M | $-510M | $-328M | $-538M | |
| Dividends Paid | $143M | $152M | $154M | $149M | $146M | $142M | $137M | $134M | $135M | $132M | $119M | $118M | |
| Financing Cash Flow | $-1.09B | $-417M | $-202M | $-150M | $-186M | $-909M | $278M | $-186M | $-546M | $-202M | $-487M | $-686M | |
| Net Change in Cash | $-1.74B | $1.68B | $209M | $-143M | $-186M | $-73M | $-254M | $466M | $122M | $67M | $66M | $-1M | |
| Taxes Paid | $127M | $81M | $77M | $33M | $45M | · | · | · | · | · | · | · |
Profitability 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 15.4% | 18.2% | 6.7% | 4.3% | 11.6% | -2.5% | 6.2% | 0.85% | -8.0% | 12.8% | 15.5% | 18.6% | |
| Pretax Margin | 18.7% | 17.2% | 7.1% | 4.8% | 12.8% | -2.7% | 6.7% | 0.27% | -8.2% | 13.0% | 15.6% | 19.1% | |
| ROA | 3.0% | 3.5% | 1.3% | 0.81% | 2.3% | -0.47% | 1.3% | 0.18% | -1.6% | 2.5% | 3.2% | 4.1% | |
| ROE | 16.2% | 17.8% | 7.3% | 5.0% | 11.5% | -2.3% | 5.8% | 0.84% | -6.8% | 8.5% | 11.0% | 13.9% |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 |
Growth Rates 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 10.2% | 5.6% | 9.9% | -3.5% | 9.9% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 8.5% | 3.8% | 5.2% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 6.3% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 0.00% | 207.2% | 78.7% | -67.4% | · | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 76.4% | 21.4% | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -6.7% | 187.5% | 68.7% | -63.9% | · | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 65.4% | 20.5% | · | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 0.16% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $6.56B | $5.96B | $5.64B | $5.14B | $5.32B | $4.84B | $5.17B | $5.09B | $4.59B | $4.01B | $4.13B | $4.35B | |
| Net Income TTM | $1.01B | $1.08B | $376M | $223M | $619M | $-120M | $323M | $43M | $-369M | $513M | $642M | $811M | |
| Market Cap | $7.94B | $7.35B | $4.72B | $4.59B | $4.62B | $4.25B | $4.99B | $4.32B | $4.18B | $5.64B | $5.40B | $5.08B | |
| P/E | 8.7 | 7.2 | 13.8 | 24.1 | 7.9 | -28.2 | 17.8 | · | -10.2 | 12.8 | 9.3 | 7.0 | |
| P/S | 1.2 | 1.2 | 0.8 | 0.9 | 0.9 | 0.9 | 1.0 | 0.8 | 0.9 | 1.4 | 1.3 | 1.2 | |
| P/B | 1.2 | 1.2 | 0.9 | 1.0 | 0.9 | 0.8 | 0.9 | 0.9 | 0.8 | 0.9 | 0.9 | 0.9 | |
| P / Tangible Book | 1.3 | 1.3 | 0.9 | 1.1 | 0.9 | 0.9 | · | · | · | · | · | · | |
| P / Cash Flow | -194.0 | 4.0 | 3.8 | 6.6 | 4.1 | 12.4 | 25.1 | 400.7 | 16.1 | 13.9 | 6.8 | 5.9 | |
| Dividend Yield | 1.8% | 2.1% | 3.3% | 3.3% | 3.1% | 3.3% | 2.8% | 3.1% | 3.2% | 2.4% | 2.2% | 2.3% | |
| Earnings Yield | 11.5% | 13.9% | 7.3% | 4.2% | 12.7% | -3.5% | 5.6% | 0.00% | -9.8% | 7.8% | 10.7% | 14.3% | |
| Payout Ratio | 14.1% | 14.0% | 40.9% | 66.9% | 23.5% | -117.6% | 42.4% | 310.3% | -36.6% | 25.8% | 18.5% | 14.5% | |
| Annual Payout | $143M | $152M | $154M | $149M | $146M | $142M | $137M | $134M | $135M | $132M | $119M | $118M |
Income Statement 10
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.75B | $1.64B | $1.73B | $1.67B | $1.63B | $1.52B | $1.47B | $1.61B | $1.45B | $1.42B | $1.48B | $1.43B | $1.38B | $1.34B | $1.45B | $1.23B | |
| SG&A Expense | $165M | $158M | $212M | $172M | $161M | $159M | $189M | $165M | $148M | $163M | $170M | $179M | $169M | $167M | $187M | $158M | |
| Interest Expense | $17M | $16M | $17M | $17M | $17M | $17M | $17M | $17M | $17M | $17M | $18M | $16M | $17M | $17M | $16M | $16M | |
| Pretax Income | $316M | $308M | $339M | $370M | $280M | $236M | $285M | $227M | $245M | $270M | $-184M | $213M | $178M | $196M | $81M | $-2M | |
| Income Tax | $61M | $56M | $46M | $70M | $56M | $44M | $-19M | $48M | $41M | $-125M | $-42M | $25M | $28M | $16M | $27M | $-363.0K | |
| Net Income | $258M | $255M | $290M | $302M | $223M | $194M | $294M | $181M | $212M | $395M | $-143M | $188M | $151M | $180M | $48M | $-9M | |
| EPS (Basic) | $3.41 | $3.34 | $3.68 | $3.79 | $2.75 | $2.30 | $3.44 | $2.06 | $2.42 | $4.57 | $-1.77 | $2.12 | $1.68 | $2.03 | $0.48 | $-0.20 | |
| EPS (Diluted) | $3.38 | $3.29 | $3.63 | $3.74 | $2.72 | $2.26 | $3.38 | $2.04 | $2.40 | $4.53 | $-1.76 | $2.10 | $1.67 | $2.01 | $0.48 | $-0.20 | |
| Shares (Basic) | 73,549,000 | 74,095,000 | -158,957,000 | 77,619,000 | 78,378,000 | 81,152,000 | -169,125,000 | 83,936,000 | 84,475,000 | 84,879,000 | -170,152,000 | 85,223,000 | 85,207,000 | 84,864,000 | -169,930,000 | 84,660,000 | |
| Shares (Diluted) | 74,203,000 | 75,153,000 | -161,042,000 | 78,601,000 | 79,329,000 | 82,378,000 | -170,843,000 | 85,000,000 | 85,326,000 | 85,693,000 | -171,761,000 | 86,108,000 | 85,812,000 | 85,853,000 | -170,642,000 | 84,660,000 |
Balance Sheet 12
| 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 | $780M | $862M | $820M | $826M | $852M | $2.76B | $2.14B | $981M | $1.09B | $1.14B | · | $890M | $1.17B | $817M | · | $1.21B | |
| Goodwill | $66M | $66M | $66M | $66M | $66M | $66M | $66M | $101M | $101M | $101M | $101M | $101M | $101M | $101M | $101M | $101M | |
| Intangibles | $161M | $164M | $166M | $168M | $171M | $173M | $176M | $179M | $181M | $184M | · | $190M | $192M | $195M | · | $201M | |
| Total Assets | $36.62B | $35.62B | $34.46B | $34.34B | $34.15B | $33.25B | $32.68B | $32.72B | $32.08B | $31.76B | · | $29.47B | $29.32B | $28.56B | · | $27.12B | |
| Total Liabilities | $30.12B | $29.24B | $28.11B | $27.97B | $27.98B | $27.35B | $26.59B | $26.64B | $26.42B | $26.25B | · | $24.44B | $24.29B | $23.60B | · | $22.78B | |
| Common Stock | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | · | $2M | $2M | $2M | · | $2M | |
| Retained Earnings | $8.61B | $8.40B | $8.18B | $7.93B | $7.67B | $7.49B | $7.34B | $7.09B | $6.96B | $6.79B | · | $6.63B | $6.49B | $6.38B | · | $6.24B | |
| Treasury Stock | $4.95B | $4.86B | $4.81B | $4.52B | $4.41B | $4.36B | $3.93B | $3.87B | $3.83B | $3.79B | · | $3.75B | $3.75B | $3.75B | · | $3.77B | |
| AOCI | $-108M | $-97M | $28M | $10M | $-22M | $-152M | $-268M | $-77M | $-395M | $-412M | · | $-775M | $-631M | $-572M | · | $-1.04B | |
| Stockholders' Equity | $6.50B | $6.38B | $6.36B | $6.37B | $6.17B | $5.90B | $6.09B | $6.08B | $5.66B | $5.51B | $5.26B | $5.03B | $5.02B | $4.96B | $4.64B | $4.34B | |
| Liabilities + Equity | $36.62B | $35.62B | $34.46B | $34.34B | $34.15B | $33.25B | $32.68B | $32.72B | $32.08B | $31.76B | · | $29.47B | $29.32B | $28.56B | · | $27.12B | |
| Shares Outstanding | 73,141,000 | 73,937,000 | 74,135,000 | 77,035,000 | 78,173,000 | 78,651,000 | 82,984,000 | 83,649,000 | 84,179,000 | 84,687,000 | 85,286,000 | 85,228,000 | 85,216,000 | 85,183,000 | 84,668,000 | 84,666,000 |
Cash Flow 11
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $13M | $18M | $11M | $11M | $11M | $12M | $9M | $10M | $10M | $14M | $14M | $15M | $16M | $9M | $12M | $14M | |
| Deferred Tax | · | · | · | · | · | · | · | · | $0 | $-163M | · | · | · | · | · | · | |
| Amort. of Intangibles | $2M | $2M | $2M | $2M | $2M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | |
| Operating Cash Flow | $632M | $519M | $630M | $674M | $-1.65B | $309M | $356M | $587M | $518M | $384M | $249M | $405M | $415M | $241M | $-119M | $403M | |
| Investing Cash Flow | $-656M | $-323M | $-341M | $-566M | $-185M | $462M | $1.39B | $-700M | $-621M | $211M | $-109M | $-601M | $-23M | $-178M | $-528M | $-72M | |
| Stock Repurchased | $89M | $60M | $288M | $110M | $50M | $440M | $60M | $40M | $38M | $62M | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Stock Activity | · | $-60M | · | · | · | $-440M | · | · | · | $-62M | · | · | · | · | · | · | |
| Dividends Paid | $33M | $35M | $34M | $34M | $35M | $40M | $37M | $37M | $37M | $40M | $38M | $38M | $38M | $40M | $36M | $36M | |
| Financing Cash Flow | $-144M | $-125M | $-330M | $-152M | $-93M | $-512M | $-115M | $-95M | $-84M | $-123M | $-52M | $-45M | $-46M | $-59M | $-44M | $35M | |
| Net Change in Cash | $-165M | $67M | $-37M | $-51M | $-1.92B | $269M | $1.59B | $-184M | $-187M | $458M | $117M | $-251M | $339M | $5M | $-661M | $337M | |
| Taxes Paid | $117M | $-2M | $22M | $33M | $59M | $13M | $33M | $23M | $18M | $7M | $23M | $23M | $34M | $-2M | $-3M | $24M |
Profitability 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 14.7% | 15.5% | · | 18.0% | 13.7% | 12.8% | · | 11.2% | 14.6% | 27.8% | · | 13.1% | 10.9% | 13.4% | · | -0.76% | |
| Pretax Margin | 18.0% | 18.8% | · | 22.1% | 17.2% | 15.5% | · | 14.2% | 17.4% | 19.0% | · | 14.6% | 12.7% | 14.7% | · | -0.18% | |
| ROA | 0.73% | 0.74% | · | 0.90% | 0.67% | 0.60% | · | 0.58% | 0.69% | 1.3% | · | 0.66% | 0.53% | 0.64% | · | -0.03% | |
| ROE | 4.1% | 4.2% | · | 4.9% | 3.8% | 3.4% | · | 3.2% | 4.0% | 7.6% | · | 4.0% | 3.1% | 3.6% | · | -0.19% |
Efficiency 1
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.1 | 0.0 | 0.0 | · | 0.1 | 0.0 | 0.0 | · | 0.0 |
Valuation (TTM) 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $6.70B | $6.47B | · | $6.44B | $6.22B | $6.01B | · | $5.92B | $5.69B | $5.59B | · | $5.39B | $5.15B | $5.03B | · | $5.03B | |
| Net Income TTM | $1.04B | $974M | · | $900M | $810M | $982M | · | $976M | $946M | $914M | · | $509M | $356M | $355M | · | $230M | |
| Market Cap | $7.86B | $7.50B | · | $7.38B | $8.12B | $7.88B | · | $6.66B | $5.95B | $5.51B | · | $4.80B | $4.59B | $4.64B | · | $4.16B | |
| P/E | 8.2 | 8.4 | · | 8.9 | 11.0 | 8.9 | · | 7.2 | 6.6 | 6.3 | · | 10.1 | 14.2 | 14.4 | · | 21.1 | |
| P/S | 1.2 | 1.2 | · | 1.1 | 1.3 | 1.3 | · | 1.1 | 1.0 | 1.0 | · | 0.9 | 0.9 | 0.9 | · | 0.8 | |
| P/B | 1.2 | 1.2 | · | 1.2 | 1.3 | 1.3 | · | 1.1 | 1.1 | 1.0 | · | 1.0 | 0.9 | 0.9 | · | 1.0 | |
| P / Tangible Book | 1.3 | 1.2 | · | 1.2 | 1.4 | 1.4 | · | 1.1 | 1.1 | 1.1 | · | 1.0 | 1.0 | 1.0 | · | 1.0 | |
| P / Cash Flow | · | 14.4 | · | · | · | 25.5 | · | · | · | 14.3 | · | · | · | 20.9 | · | · | |
| Earnings Yield | 12.2% | 11.8% | · | 11.2% | 9.1% | 11.2% | · | 13.9% | 15.2% | 15.9% | · | 9.9% | 7.1% | 6.9% | · | 4.7% | |
| Payout Ratio | · | 13.8% | · | · | · | 20.4% | · | · | · | 10.2% | · | · | · | 22.4% | · | · |
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 | $6.56B | $5.96B | $5.64B | $5.14B | $5.32B |
| Net Income | $1.01B | $1.08B | $376M | $223M | $619M |
| Diluted EPS | $12.35 | $12.35 | $4.02 | $2.25 | $6.90 |
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Institutional owners (13F) 500 filers · $5.2B 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 |
|---|---|---|---|---|
| 63 (+4 vs prior Q) | 50 (-3 vs prior Q) | 168 (-16 vs prior Q) | 169 (+5 vs prior Q) | +12.3M |
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 |
|---|---|---|---|---|
| VANGUARD PORTFOLIO MANAGEMENT LLC | $407,178,476 | 3,789,822 | 7.78% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $386,710,511 | 3,599,317 | 7.39% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $343,333,975 | 3,195,588 | 6.56% | Shares |
| AMERICAN CENTURY COMPANIES INC | $231,030,404 | 2,150,320 | 4.42% | Shares |
| STATE STREET CORP | $174,943,925 | 1,621,627 | 3.34% | Shares |
| Swedbank AB | $167,340,056 | 1,557,521 | 3.20% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $159,797,983 | 1,487,323 | 3.05% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $137,151,000 | 1,276,540 | 2.62% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $126,947,029 | 1,181,227 | 2.43% | Shares |
| Freestone Grove Partners LP | $124,142,622 | 1,155,460 | 2.37% | Shares |
| Allianz Asset Management GmbH | $120,904,349 | 1,192,233 | 2.31% | Shares |
| JOHNSON INVESTMENT COUNSEL INC | $120,530,435 | 1,121,839 | 2.30% | Shares |
| FMR LLC | $108,204,419 | 1,007,115 | 2.07% | Shares |
| NORGES BANK | $102,012,668 | 949,485 | 1.95% | Shares |
| River Road Asset Management, LLC | $99,889,761 | 929,726 | 1.91% | Shares |
| CITADEL ADVISORS LLC | $99,380,711 | 924,988 | 1.90% | Shares |
| CAUSEWAY CAPITAL MANAGEMENT LLC | $92,369,066 | 859,727 | 1.77% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $89,153,712 | 829,800 | 1.70% | Shares |
| JENNISON ASSOCIATES LLC | $81,199,822 | 755,769 | 1.55% | Shares |
| Qube Research & Technologies Ltd | $73,895,835 | 687,787 | 1.41% | Shares |
| TWO SIGMA INVESTMENTS, LP | $58,328,531 | 542,894 | 1.11% | Shares |
| FIRST TRUST ADVISORS LP | $58,205,814 | 541,752 | 1.11% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $58,125,040 | 541,000 | 1.11% | Shares |
| Point72 Asset Management, L.P. | $57,021,416 | 530,728 | 1.09% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $49,748,051 | 463,031 | 0.95% | Shares |
| Robeco Institutional Asset Management B.V. | $48,628,203 | 452,608 | 0.93% | Shares |
| Alberta Investment Management Corp | $48,348,000 | 450,000 | 0.92% | Shares |
| GOLDMAN SACHS GROUP INC | $47,562,506 | 442,689 | 0.91% | Shares |
| FULLER & THALER ASSET MANAGEMENT, INC. | $46,485,901 | 432,668 | 0.89% | Shares |
| Quantinno Capital Management LP | $41,435,656 | 385,663 | 0.79% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $40,886,722 | 380,554 | 0.78% | Shares |
| Boston Partners | $40,733,966 | 376,017 | 0.78% | Shares |
| Woodline Partners LP | $40,529,914 | 377,233 | 0.77% | Shares |
| ALLIANCEBERNSTEIN L.P. | $39,265,546 | 387,196 | 0.75% | Shares |
| Nuveen, LLC | $38,855,998 | 361,653 | 0.74% | Shares |
| Bank of New York Mellon Corp | $37,959,734 | 353,311 | 0.73% | Shares |
| RAYMOND JAMES FINANCIAL INC | $33,903,088 | 315,554 | 0.65% | Shares |
| Arbejdsmarkedets Tillaegspension | $30,985,696 | 288,400 | 0.59% | Shares |
| STANSBERRY ASSET MANAGEMENT, LLC | $30,039,539 | 279,594 | 0.57% | Shares |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $29,820,617 | 277,556 | 0.57% | Shares |
| BANK OF AMERICA CORP /DE/ | $28,369,210 | 264,047 | 0.54% | Shares |
| BANK OF NOVA SCOTIA | $27,805,364 | 258,799 | 0.53% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $27,217,775 | 253,330 | 0.52% | Shares |
| ALTRINSIC GLOBAL ADVISORS LLC | $24,409,723 | 227,194 | 0.47% | Shares |
| ALGERT GLOBAL LLC | $24,233,522 | 225,554 | 0.46% | Shares |
| IEQ CAPITAL, LLC | $19,136,889 | 178,117 | 0.37% | Shares |
| LEVIN CAPITAL STRATEGIES, L.P. | $17,722,904 | 164,956 | 0.34% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $17,566,440 | 163,500 | 0.34% | Shares |
| California Public Employees Retirement System | $17,416,669 | 162,106 | 0.33% | Shares |
| Bridgewater Associates, LP | $17,099,828 | 159,157 | 0.33% | Shares |
| Nuveen Asset Management, LLC | $16,981,719 | 191,624 | 0.32% | Shares |
| First Eagle Investment Management, LLC | $16,325,401 | 151,949 | 0.31% | Shares |
| STOREBRAND ASSET MANAGEMENT AS | $16,059,809 | 149,477 | 0.31% | Shares |
| Gotham Asset Management, LLC | $16,054,759 | 149,430 | 0.31% | Shares |
| Swiss National Bank | $15,976,328 | 148,700 | 0.31% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $15,864,590 | 147,660 | 0.30% | Shares |
| FIRST MANHATTAN CO. LLC. | $15,704,415 | 145,573 | 0.30% | Shares |
| SCHRODER INVESTMENT MANAGEMENT GROUP | $15,641,253 | 144,292 | 0.30% | Shares |
| SEI INVESTMENTS CO | $15,175,790 | 141,249 | 0.29% | Shares |
| BlackRock, Inc. | $14,197,766 | 132,146 | 0.27% | Shares |
| Paradice Investment Management LLC | $13,768,866 | 128,154 | 0.26% | Shares |
| DARK FOREST CAPITAL MANAGEMENT LP | $13,193,095 | 122,795 | 0.25% | Shares |
| Interval Partners, LP | $12,586,918 | 117,153 | 0.24% | Shares |
| TORONTO DOMINION BANK | $12,508,702 | 116,425 | 0.24% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $12,202,820 | 113,578 | 0.23% | Shares |
| UBS Group AG | $11,975,800 | 111,465 | 0.23% | Shares |
| Hudson Bay Capital Management LP | $11,750,176 | 109,365 | 0.22% | Shares |
| Prana Capital Management, LP | $11,678,728 | 108,700 | 0.22% | Shares |
| Squarepoint Ops LLC | $11,657,347 | 108,501 | 0.22% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $11,370,805 | 105,834 | 0.22% | Shares |
| MILLENNIUM MANAGEMENT LLC | $11,365,433 | 105,784 | 0.22% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $11,333,523 | 105,487 | 0.22% | Shares |
| Brandywine Global Investment Management, LLC | $10,963,125 | 102,373 | 0.21% | Shares |
| Philadelphia Financial Management of San Francisco, LLC | $10,697,156 | 99,564 | 0.20% | Shares |
| Knights of Columbus Asset Advisors LLC | $10,550,178 | 98,196 | 0.20% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $10,446,176 | 97,228 | 0.20% | Shares |
| CWM, LLC | $10,251,435 | 101,089 | 0.20% | Shares |
| BARCLAYS PLC | $10,069,062 | 93,718 | 0.19% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $9,377,788 | 92,474 | 0.18% | Shares |
| Trexquant Investment LP | $9,345,131 | 86,980 | 0.18% | Shares |
| Integrated Wealth Concepts LLC | $9,075,116 | 84,470 | 0.17% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $9,061,597 | 84,341 | 0.17% | Shares |
| Schonfeld Strategic Advisors LLC | $8,873,575 | 82,591 | 0.17% | Shares |
| COOKSON PEIRCE & CO INC | $8,809,436 | 81,994 | 0.17% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $8,763,773 | 81,569 | 0.17% | Shares |
| WEDGE CAPITAL MANAGEMENT L L P/NC | $8,616,199 | 84,964 | 0.16% | Shares |
| TEACHER RETIREMENT SYSTEM OF TEXAS | $8,187,787 | 76,208 | 0.16% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $7,486,258 | 72,746 | 0.14% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $7,473,634 | 69,561 | 0.14% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $7,201,811 | 67,031 | 0.14% | Shares |
| Man Group plc | $7,131,760 | 66,379 | 0.14% | Shares |
| Cubist Systematic Strategies, LLC | $7,055,241 | 73,646 | 0.13% | Shares |
| RHUMBLINE ADVISERS | $6,925,550 | 64,460 | 0.13% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $6,892,168 | 64,149 | 0.13% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $6,876,160 | 64,000 | 0.13% | Shares |
| ArrowMark Colorado Holdings LLC | $6,661,280 | 62,000 | 0.13% | Shares |
| Corient Private Wealth LP | $6,426,516 | 59,814 | 0.12% | Shares |
| VAN ECK ASSOCIATES CORP | $6,220,024 | 57,893 | 0.12% | Shares |
| Clear Harbor Asset Management, LLC | $6,154,700 | 57,285 | 0.12% | Shares |
| NATIXIS | $5,984,730 | 55,703 | 0.11% | Shares |
Company insiders 63 insiders · 32 officers · 30 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Vincent C Tizzio | President and CEO | March 1, 2026 F | 150,199 | 0 | 0 | $0 |
| Steve K. Arora | CEO, AXIS Re | March 1, 2022 F | 111,402 | 0 | 0 | $0 |
| Peter W Wilson | CEO, AXIS Insurance | March 1, 2022 F | 92,133 | 0 | 0 | $0 |
| Albert Benchimol | President and CEO | March 1, 2022 F | 617,326 | 0 | 0 | $0 |
| Christopher N. Disipio | CEO, Accident & Health | March 1, 2018 M | 84,779 | 0 | 0 | $0 |
| Jan Ekberg | CEO, AXIS Reinsurance | March 1, 2017 M | 18,943 | 0 | 0 | $0 |
| John Drake Nichols | CEO, AXIS Re | Feb. 4, 2017 F | 162,691 | 0 | 0 | $0 |
| Michael E Morrill | CEO & President, AXIS Re US | May 4, 2010 G | 199,808 | 0 | 0 | $0 |
| Peter Vogt | CFO | March 1, 2026 F | 126,799 | 0 | 0 | $0 |
| Joseph Henry | EVP and CFO | Dec. 6, 2017 A | 88,064 | 0 | 0 | $0 |
| David Bruce Greenfield | EVP & Chief Financial Officer | Feb. 9, 2010 F | 133,927 | 0 | 0 | $0 |
| Andrew D. Cook | Chief Financial Officer | March 22, 2006 S | 144,000 | 0 | 0 | $0 |
| Dennis Reding | EVP & Chief Operating Officer | Feb. 8, 2014 F | 275,996 | 0 | 0 | $0 |
| John J Murray | Chief Operating Officer | Feb. 4, 2008 A | 197,000 | 0 | 0 | $0 |
| Daniel J Draper | Grp Chief Underwriting Officer | March 1, 2026 F | 22,682 | 0 | 3 | $-842,703 |
| David S. Phillips | Chief Investment Officer | March 1, 2026 F | 98,339 | 0 | 0 | $0 |
| Conrad D. Brooks | Chief Admin and Legal Officer | March 1, 2026 F | 70,375 | 0 | 0 | $0 |
| Athanasios Tom Bolovinos | Principal Acct Off | Jan. 27, 2026 A | 5,091 | 0 | 0 | $0 |
| Kent W Ziegler | Principal Acct Off, Controller | March 1, 2025 F | 33,383 | 0 | 0 | $0 |
| James O'Shaughnessy | EVP, CAO & Corp Controller | March 1, 2018 M | 20,056 | 0 | 0 | $0 |
| Richard T Gieryn JR | EVP, General Counsel & Sec | Dec. 28, 2016 G | 8,358 | 0 | 0 | $0 |
| John Gressier | Chairman, AXIS Insurance | Feb. 4, 2014 F | 391,863 | 0 | 0 | $0 |
| William A Fischer | Chief U/W Officer, AXIS Re | Feb. 9, 2012 F | 307,566 | 0 | 0 | $0 |
| Gordon Mcfadden | EVP and Controller | Feb. 6, 2012 A | 37,000 | 0 | 0 | $0 |
| Michael M. Steel | Chief Risk Officer | July 1, 2008 A | 50,000 | 0 | 0 | $0 |
| Anders C Anderson | Chief Audit Officer | Feb. 4, 2008 A | 50,000 | 0 | 0 | $0 |
| Brian W Goshen | Chief Human Resources Officer | Feb. 4, 2008 A | 50,000 | 0 | 0 | $0 |
| Clare E Moran | EVP & Controller | Jan. 30, 2007 A | 74,000 | 0 | 0 | $0 |
| Carol S Rivers | General Counsel | Feb. 10, 2006 M | 47,000 | 0 | 0 | $0 |
| BLUM RICHARD H | AXIS Specialty US Holdings | Feb. 3, 2005 F | 84,835 | 0 | 0 | $0 |
| Robert J Newhouse JR | Executive Committee Chairman | Jan. 14, 2005 G | 417,250 | 0 | 0 | $0 |
| Lorraine S Mariano | Chief Human Resources Officer | Jan. 13, 2005 A | 48,500 | 0 | 0 | $0 |
| Henry B Smith | Director | May 7, 2026 S | 46,347 | 0 | 2 | $-596,215 |
| Axel Theis | Director | Jan. 15, 2026 A | 11,778 | 0 | 0 | $0 |
| Elanor Hardwick | Director | Jan. 15, 2026 A | 18,379 | 0 | 0 | $0 |
| Michael Millegan | Director | Jan. 15, 2026 A | 12,275 | 0 | 0 | $0 |
| Barbara A. Yastine | Director | Jan. 15, 2026 A | 21,354 | 0 | 0 | $0 |
| Thomas C. Ramey | Director | Jan. 15, 2026 A | 25,989 | 0 | 0 | $0 |
| Anne Melissa Dowling | Director | Jan. 15, 2026 A | 16,140 | 0 | 0 | $0 |
| Lizabeth H Zlatkus | Director | Jan. 15, 2026 A | 24,525 | 0 | 0 | $0 |
| Stanley A Galanski | Director | Jan. 15, 2026 A | 15,022 | 0 | 0 | $0 |
| DAVIS CHARLES A /NJ/ | Director | Jan. 15, 2026 A | 63,719 | 0 | 1 | $-237,768,754 |
| Marston W Becker | Director | Jan. 15, 2026 A | 27,437 | 0 | 0 | $0 |
| Michael A Butt | Director | March 12, 2020 P | 986,922 | 0 | 0 | $0 |
| Wilhelm Zeller | Director | Jan. 15, 2020 A | 21,056 | 0 | 0 | $0 |
| Maurice A Keane | Director | Jan. 15, 2020 A | 109,468 | 0 | 0 | $0 |
| Christopher V Greetham | Director | Jan. 15, 2020 A | 28,452 | 0 | 0 | $0 |
| Robert L. Friedman | Director | Jan. 15, 2020 A | 66,955 | 0 | 0 | $0 |
| Cheryl-Ann Lister | Director | Jan. 16, 2018 A | 29,199 | 0 | 0 | $0 |
| Alice Young | Director | Jan. 17, 2017 A | 5,570 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 1 position
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 |
|---|---|---|---|---|---|
| T-VIII PubOpps LP, T-VIII PubOpps GP LLC, Trident VIII, L.P., Trident Capital VIII, L.P., Stone Point Capital LLC ×4 filings | March 5, 2025 | 3.00% | Amendment | — | 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 67 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 |
|---|---|---|---|---|
| KBWP · Invesco Exchange-Traded Fund Trust … | 1.92% | 50,195 SH | Aug. 8, 2026 | Daily |
| CVY · Invesco Exchange-Traded Fund Trust | 1.00% | 11,990 SH | Aug. 8, 2026 | Daily |
| PGF · Invesco Exchange-Traded Fund Trust | 0.81% | 286,887 | Aug. 8, 2026 | Daily |
| IAK · iShares Trust | 0.68% | 36,268 SH | Aug. 8, 2026 | Daily |
| SMMV · iShares Trust | 0.59% | 16,410 SH | Aug. 8, 2026 | Daily |
| PGX · Invesco Exchange-Traded Fund Trust … | 0.40% | 798,124 | Aug. 8, 2026 | Daily |
| CZA · Invesco Exchange-Traded Fund Trust | 0.36% | 6,668 SH | Aug. 8, 2026 | Daily |
| DFAT · Dimensional ETF Trust | 0.35% | 474,035 NS | April 30, 2026 | N-PORT |
| DFSV · Dimensional ETF Trust | 0.32% | 241,934 NS | April 30, 2026 | N-PORT |
| PKW · Invesco Exchange-Traded Fund Trust | 0.27% | 45,600 SH | Aug. 8, 2026 | Daily |
| ISCV · iShares Trust | 0.23% | 15,601 SH | Aug. 8, 2026 | Daily |
| VFQY · VANGUARD WELLINGTON FUND | 0.23% | 10,033 SH | Aug. 8, 2026 | Daily |
| VFVA · VANGUARD WELLINGTON FUND | 0.23% | 18,085 SH | Aug. 8, 2026 | Daily |
| VFMF · VANGUARD WELLINGTON FUND | 0.23% | 15,203 SH | Aug. 8, 2026 | Daily |
| AVUV · AMERICAN CENTURY ETF TRUST | 0.22% | 624,645 NS | May 31, 2026 | N-PORT |
| BFOR · ALPS ETF Trust | 0.22% | 4,909 NS | May 31, 2026 | N-PORT |
| AVMV · AMERICAN CENTURY ETF TRUST | 0.21% | 13,690 NS | May 31, 2026 | N-PORT |
| ESML · iShares Trust | 0.20% | 56,161 SH | Aug. 8, 2026 | Daily |
| PFF · iShares Trust | 0.19% | 1,345,565 SH | Aug. 8, 2026 | Daily |
| AVLV · AMERICAN CENTURY ETF TRUST | 0.17% | 225,568 NS | May 31, 2026 | N-PORT |
| VBR · VANGUARD INDEX FUNDS | 0.16% | 1,019,697 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.15% | 213,619 NS | April 30, 2026 | N-PORT |
| ISCB · iShares Trust | 0.11% | 3,149 SH | Aug. 8, 2026 | Daily |
| IYF · iShares Trust | 0.11% | 45,588 SH | Aug. 8, 2026 | Daily |
| AVMC · AMERICAN CENTURY ETF TRUST | 0.10% | 4,241 NS | May 31, 2026 | N-PORT |
| SMMD · iShares Trust | 0.10% | 34,440 SH | Aug. 8, 2026 | Daily |
| AVIE · AMERICAN CENTURY ETF TRUST | 0.09% | 98 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.09% | 844,961 SH | Aug. 8, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.09% | 1,606,708 SH | Aug. 8, 2026 | Daily |
| VFH · VANGUARD WORLD FUND | 0.09% | 120,667 SH | Aug. 8, 2026 | Daily |
| AVSU · AMERICAN CENTURY ETF TRUST | 0.07% | 3,605 NS | May 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.07% | 4,623 SH | Aug. 8, 2026 | Daily |
| IWS · iShares Trust | 0.07% | 105,866 SH | Aug. 8, 2026 | Daily |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.06% | 4,949 SH | Aug. 8, 2026 | Daily |
| IWR · iShares Trust | 0.05% | 291,142 SH | Aug. 8, 2026 | Daily |
| DFSU · Dimensional ETF Trust | 0.05% | 10,984 NS | April 30, 2026 | N-PORT |
| DIVB · iShares Trust | 0.05% | 8,728 SH | Aug. 8, 2026 | Daily |
| DFUV · Dimensional ETF Trust | 0.05% | 73,428 NS | April 30, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.05% | 1,933 NS | April 30, 2026 | N-PORT |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.04% | 61,455 NS | May 31, 2026 | N-PORT |
| AVLC · AMERICAN CENTURY ETF TRUST | 0.04% | 5,670 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.04% | 3,127 NS | May 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.04% | 162,383 NS | April 30, 2026 | N-PORT |
| VYM · VANGUARD WHITEHALL FUNDS | 0.03% | 292,071 SH | Aug. 8, 2026 | Daily |
| DGRO · iShares Trust | 0.03% | 113,358 SH | Aug. 8, 2026 | Daily |
| DCOR · Dimensional ETF Trust | 0.03% | 7,504 NS | April 30, 2026 | N-PORT |
| IWD · iShares Trust | 0.02% | 163,071 SH | Aug. 8, 2026 | Daily |
| VCSH · VANGUARD SCOTTSDALE FUNDS | 0.02% | 9,451,000 PA | Aug. 8, 2026 | Daily |
| VONV · VANGUARD SCOTTSDALE FUNDS | 0.02% | 44,207 SH | Aug. 8, 2026 | Daily |
| DFAU · Dimensional ETF Trust | 0.02% | 17,199 NS | April 30, 2026 | N-PORT |