BOC Boston Omaha Corporation Class A Common Stock
$13.73
Price · Aug 19, 2026
Fundamentals as of Aug 13, 2026
52W Range
$11–$15
68% of range
Analyst Rating
SELL
8 analysts
Price Target
$14
+2% upside
P/E (TTM)
-30.9
ROE
—
Net Profit Margin
—
BOC Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$13.72
Market Cap
—
P/E (TTM)
-30.9
EPS (TTM)
$-0.40
Revenue (TTM)
$114M
Div Yield
—
ROE
—
Debt/Equity
—
52W Range
$11 – $15
BOC 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
$114M
2017-12-31
→
2025-12-31
EPS
$-0.40
2020-12-31
→
2025-12-31
Free Cash Flow
—
2017-12-31
→
2022-12-31
Margins
—
2017-12-31
→
2022-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
BOC
Peer Median
P/E (TTM)
-30.9
197.0
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
BOC
Peer Median
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
BOC
Peer Median
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
BOC
Peer Median
Revenue YoY
5.6%
—
Revenue CAGR 3Y
12.1%
—
Revenue CAGR 5Y
20.1%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
BOC
Peer Median
BOC Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
SELL
8 analysts
- Strong Buy 0 0.0%
- Buy 0 0.0%
- Hold 3 37.5%
- Sell 4 50.0%
- Strong Sell 1 12.5%
12-Month Price Target
1 analysts · 2026-05-11
Low
$14.00
High
$14.00
Median target
$14.00
+2.0%
Mean target
$14.00
+2.0%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.10%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| Dec. 31, 2025 | $-0.23 | $-0.03 | -0.20% |
| Sept. 30, 2025 | $-0.08 | $-0.03 | -0.05% |
| June 30, 2025 | $-0.07 | $0.03 | -0.10% |
| March 31, 2025 | $-0.02 | $0.01 | -0.03% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| BOC | — | -30.9 | 5.6% | — | — | — |
| MNTN | $0 | -91.8 | 28.6% | -2.2% | -2.4% | 77.2% |
| IBTA | $740M | 189.4 | -6.8% | 1.0% | 1.1% | 79.2% |
| PUBM | — | -28.6 | -2.9% | -5.1% | -5.7% | 63.6% |
| ADV | $287M | -1.7 | -0.66% | -6.4% | -36.8% | — |
| TTGT | $390M | -0.4 | 70.9% | -207.1% | -159.6% | 60.2% |
| NCMI | $363M | -35.4 | 1.0% | -4.4% | -2.7% | — |
| FLNT | — | -2.3 | -18.0% | — | — | — |
| THRY | $265M | 605.0 | -4.8% | 0.04% | 0.14% | 67.9% |
| SCOR | $97M | 1.5 | 0.40% | -2.8% | -22.3% | — |
| OMC | $25.28B | -299.1 | 10.1% | -0.32% | -0.67% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $114M | $108M | $96M | $81M | $57M | $46M | $41M | $20M | $9M | $4M | $722.9K | $43.9K | |
| Cost of Revenue | $39M | $34M | $32M | · | · | · | $11M | $6M | $3M | $1M | $229.5K | · | |
| Gross Profit | $75M | $74M | $64M | $55M | $38M | $27M | $24M | $12M | $6M | $3M | · | · | |
| SG&A Expense | $16M | $16M | $16M | $13M | $10M | $7M | $6M | $4M | $2M | $788.5K | $153.7K | · | |
| Operating Expenses | $79M | $82M | $73M | $86M | $81M | $51M | $54M | $32M | $16M | $7M | $2M | $66.7K | |
| Operating Income | $-4M | $-8M | $-9M | $-5M | $-24M | $-5M | $-12M | $-12M | $-7M | $-3M | $-1M | $-22.8K | |
| Interest Expense | · | · | $1M | $1M | $956.0K | $841.8K | $302.7K | $1.8K | $8.3K | $7.8K | $22.5K | $28.1K | |
| Interest Income | · | · | · | · | $676.6K | $2M | $3M | $2M | $95.8K | · | · | · | |
| Pretax Income | $-18M | $3M | $-9M | $8M | $73M | $-2M | $-1M | $-9M | $-6M | $-3M | $-1M | $-66.8K | |
| Income Tax | $-79.3K | $-274.8K | $-3M | $-3M | $18M | $0 | $0 | · | · | · | · | · | |
| Net Income | $-12M | $-1M | $-7M | $10M | $53M | $-49.1K | $-1M | $-9M | $-6M | $-3M | $-1M | $-66.8K | |
| EPS (Basic) | $-0.40 | $-0.04 | $-0.23 | $0.34 | $1.82 | $0.00 | · | · | · | · | · | · | |
| EPS (Diluted) | $-0.40 | $-0.04 | $-0.23 | $0.34 | $1.82 | $0.00 | · | · | · | · | · | · | |
| Shares (Basic) | 31,413,667 | 31,496,857 | 31,092,850 | 29,698,732 | 28,978,223 | 25,675,820 | · | · | · | · | · | · | |
| Shares (Diluted) | 31,413,667 | 31,496,857 | 31,092,850 | 29,766,247 | 29,046,514 | 25,675,820 | · | · | · | · | · | · | |
| EBITDA | · | · | · | $10M | $-14M | $3M | $1M | $-4M | $-3M | · | $-649.1K | $-22.8K |
Balance Sheet 27
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $16M | $28M | $22M | $25M | $73M | $45M | $16M | $17M | $7M | $30M | $13M | $1.5K | |
| Short-term Investments | $5M | $45M | $25M | $6M | $5M | $7M | $7M | $6M | $2M | $1M | · | · | |
| Receivables | $10M | $12M | $12M | $6M | $4M | $4M | $4M | $4M | $1M | $783.1K | $276.8K | · | |
| Prepaid Expense | $3M | $5M | $6M | $5M | $3M | $2M | $1M | $3M | $755.1K | $542.1K | $70.5K | · | |
| Current Assets | $142M | $117M | $131M | $114M | $391M | $329M | $162M | $119M | $94M | $32M | $14M | $1.5K | |
| PP&E (Net) | $172M | $162M | $144M | $116M | $76M | $49M | $37M | $42M | $9M | $6M | $4M | · | |
| Accum. Depreciation | $66M | $50M | $36M | $24M | $16M | $10M | $7M | $4M | $2M | $1M | $307.4K | · | |
| Goodwill | $171M | $182M | $182M | $179M | $151M | $124M | $106M | $99M | $25M | $17M | $4M | $0 | |
| Intangibles | $50M | $58M | $66M | $68M | $45M | $44M | $32M | $37M | $9M | $4M | $969.3K | · | |
| Other Non-current Assets | $119.0K | $171.8K | $119.4K | $116.4K | $156.4K | $67.3K | $364.9K | $875.8K | $245.9K | $243.1K | · | · | |
| Total Assets | $713M | $728M | $768M | $688M | $807M | $641M | $437M | $332M | $153M | $66M | $24M | $48.7K | |
| Accounts Payable | $8M | $16M | $18M | $11M | $25M | $7M | $6M | $4M | $2M | $465.9K | $152.7K | $373 | |
| Short-term Debt | · | · | · | · | · | · | · | · | · | $0 | $100.0K | $0 | |
| Current Liabilities | $65M | $55M | $51M | $53M | $54M | $34M | $22M | $12M | $5M | $3M | $290.0K | $516.1K | |
| Capital Leases | $52M | $55M | $56M | $59M | $56M | $48M | $48M | · | · | · | · | · | |
| Deferred Tax | $9M | $12M | $12M | $15M | $18M | $57.0K | $57.0K | $57.0K | · | · | · | · | |
| Other Non-current Liabilities | $88.0K | $1M | $2M | $335.8K | $1M | $116.1K | $398.8K | $1M | · | · | · | · | |
| Total Liabilities | $177M | $166M | $152M | $158M | $166M | $114M | $90M | $16M | $5M | $3M | $290.0K | $516.1K | |
| Long-term Debt | $26M | $26M | $27M | $28M | $30M | $23M | $18M | · | · | · | · | · | |
| Total Debt | · | · | · | $28M | $30M | $23M | $18M | · | · | · | $100.0K | $494.5K | |
| Common Stock | · | · | · | · | · | · | · | · | · | $6.9K | $2.8K | $267 | |
| Paid-in Capital | $541M | $539M | $523M | $484M | $484M | $424M | $367M | $336M | $158M | $67M | $25M | $54.7K | |
| Retained Earnings | $-17M | $-5M | $16M | $23M | $12M | $-43M | $-22M | $-20M | $-11M | $-5M | $-2M | $-522.4K | |
| Treasury Stock | $7M | $2M | $0 | · | · | · | · | · | · | · | · | · | |
| Stockholders' Equity | $516M | $533M | $538M | $507M | $496M | $382M | $345M | $315M | $147M | $62M | $23M | $-467.4K | |
| Liabilities + Equity | $713M | $728M | $768M | $688M | $807M | $641M | $437M | $332M | $153M | $66M | $24M | $48.7K | |
| Shares Outstanding | · | · | · | · | · | · | · | · | · | 5,841,815 | 1,716,954 | 266,954 |
Cash Flow 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | $20M | $15M | $10M | $8M | $14M | $8M | $3M | $2M | $457.8K | · | |
| Deferred Tax | $-187.0K | $-290.4K | $-3M | $-3M | $18M | $0 | · | · | · | $-87.9K | $-105.6K | $0 | |
| Amort. of Intangibles | · | · | · | · | · | · | · | · | $772.5K | $576.8K | · | · | |
| Other Non-cash | · | · | · | $-24M | $-73M | $-2M | $-2M | $1M | $-132.0K | · | $-118.1K | · | |
| Operating Cash Flow | $18M | $21M | $16M | $-5M | $8M | $5M | $10M | $38.3K | $-3M | $-1M | $-813.4K | $-49.9K | |
| CapEx | $28M | $32M | $52M | $40M | $21M | $9M | $3M | $3M | $2M | $711.0K | $124.9K | · | |
| Investing Cash Flow | $-14M | $28M | $-64M | $88M | $-46M | $-169M | $-61M | $-165M | $-111M | $-24M | $-11M | · | |
| Debt Issued | · | · | · | $0 | $8M | $6M | $18M | · | · | · | · | · | |
| Net Debt Issued | · | · | · | $-2M | $7M | $5M | $18M | · | · | · | · | · | |
| Stock Issued | $525.3K | $0 | $38M | $205.4K | $63M | $60M | $32M | $27M | $52M | $30M | $24M | · | |
| Net Stock Activity | · | · | · | $205.4K | $63M | $60M | $32M | $150M | $52M | · | $24M | · | |
| Financing Cash Flow | $1M | $-48M | $33M | $-110M | $65M | $203M | $49M | $176M | $91M | $42M | $25M | $23.5K | |
| Net Change in Cash | $6M | $2M | $-15M | $-27M | $27M | $39M | $-2M | $11M | $-23M | · | · | · | |
| Taxes Paid | $50.9K | · | · | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | · | · | · | $-45M | $-13M | $-3M | $7M | $-3M | $-6M | · | $-938.3K | · | |
| Levered FCF | · | · | · | $-48M | $-14M | $-4M | · | · | · | · | · | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | · | · | · | 67.1% | 67.4% | 59.5% | 57.5% | 62.1% | 62.0% | · | · | · | |
| Operating Margin | · | · | · | -6.4% | -41.7% | -10.9% | -30.0% | -61.2% | -75.1% | · | -153.1% | -52.1% | |
| Net Margin | · | · | · | 8.8% | 92.6% | -0.11% | -3.6% | -45.5% | -71.8% | · | -144.9% | -152.2% | |
| Pretax Margin | · | · | · | 4.7% | 128.4% | -5.3% | -3.6% | -45.8% | -71.9% | · | -144.9% | · | |
| EBITDA Margin | · | · | · | 12.2% | -23.9% | 5.9% | 2.8% | -20.9% | -37.9% | · | -89.8% | -52.1% | |
| ROA | · | · | · | 0.96% | 7.3% | -0.01% | -0.39% | -3.8% | -5.9% | · | -4.4% | -93.7% | |
| ROE | · | · | · | 1.4% | 10.5% | -0.01% | -0.44% | -2.9% | -6.2% | · | -9.1% | 15.4% | |
| ROIC | · | · | · | -1.9% | -3.4% | -1.2% | · | · | · | · | · | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | · | · | · | 2.2 | 7.2 | 9.7 | 7.5 | 9.5 | 18.7 | · | 46.7 | 0.0 | |
| Quick Ratio | · | · | · | 0.7 | 1.5 | 1.6 | 1.2 | 2.2 | 1.9 | · | 46.4 | 0.0 | |
| Debt / Equity | · | · | · | 0.1 | 0.1 | 0.1 | 0.1 | · | · | · | 0.0 | -1.1 | |
| LT Debt / Equity | · | · | · | 0.1 | 0.1 | 0.1 | 0.1 | · | · | · | · | · | |
| Interest Coverage | · | · | · | -4.3 | -24.9 | -5.9 | -41.0 | -6794.6 | -820.5 | · | -49.2 | -0.8 |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | · | · | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | · | 0.0 | 0.6 | |
| Receivables Turnover | · | · | · | 15.8 | 13.4 | 11.1 | 9.6 | 7.2 | 9.6 | · | 5.2 | · |
Growth Rates 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 5.6% | 12.5% | 18.5% | 42.6% | 24.6% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 12.1% | 23.9% | 28.1% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 20.1% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | · | · | · | -81.3% | · | · | · | · | · | · | · | · | |
| Net Income YoY | · | · | · | -80.6% | · | · | · | · | · | · | · | · |
Valuation (TTM) 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $114M | $108M | $96M | $81M | $57M | $46M | $41M | $20M | $9M | $4M | $722.9K | $43.9K | |
| Net Income TTM | $-12M | $-1M | $-7M | $10M | $53M | $-49.1K | $-1M | $-9M | $-6M | $-3M | $-1M | $-66.8K | |
| P/E | -30.9 | -354.5 | -68.4 | 77.9 | 15.8 | · | · | · | · | · | · | · | |
| Earnings Yield | -3.2% | -0.28% | -1.5% | 1.3% | 6.3% | 0.00% | · | · | · | · | · | · |
Income Statement 15
| 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 | $22M | $28M | $30M | $29M | $22M | $28M | $28M | $28M | $27M | $26M | $25M | $25M | $24M | $23M | $23M | $21M | |
| Cost of Revenue | $6M | $11M | $11M | $10M | $6M | $9M | $9M | $9M | $9M | $8M | · | · | · | · | · | · | |
| Gross Profit | $16M | $17M | $19M | $19M | $16M | $19M | $19M | $19M | $18M | $17M | $17M | $17M | $16M | $15M | $16M | $14M | |
| SG&A Expense | $3M | $4M | $4M | $4M | $3M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $3M | $4M | |
| Operating Expenses | $17M | $20M | $20M | $20M | $16M | $19M | $21M | $19M | $23M | $19M | $-5M | $26M | $26M | $26M | $23M | $23M | |
| Operating Income | $-603.0K | $-2M | $-1M | $-1M | $-512.0K | $-798.0K | $-1M | $-740.0K | $-4M | $-2M | $-2M | $-2M | $-2M | $-3M | $-268.0K | $-2M | |
| Interest Expense | · | · | · | · | · | · | · | $466.7K | $368.4K | $282.0K | · | $287.1K | $287.0K | $288.7K | $297.8K | $304.6K | |
| Pretax Income | $-3M | $-3M | $-5M | $-5M | $-5M | $-3M | $11M | $-2M | $-2M | $-4M | $-3M | $-3M | $2M | $-5M | $2M | $-2M | |
| Income Tax | $-448.0K | $-669.0K | $2M | $-809.4K | $-803.0K | $-187.0K | $1M | $-533.1K | $-22.0K | $-937.2K | $-2M | $-717.6K | $1M | $-2M | $-4M | $-673.9K | |
| Net Income | $-2M | $-2M | $-7M | $-3M | $-2M | $-669.0K | $5M | $-2M | $-2M | $-3M | $-4M | $-2M | $2M | $-3M | $7M | $-1M | |
| EPS (Basic) | $-0.05 | $-0.07 | $-0.23 | $-0.08 | $-0.07 | $-0.02 | $0.17 | $-0.05 | $-0.07 | $-0.09 | $-0.12 | $-0.05 | $0.05 | $-0.11 | $0.23 | $-0.05 | |
| EPS (Diluted) | $-0.05 | $-0.07 | $-0.23 | $-0.08 | $-0.07 | $-0.02 | $0.17 | $-0.05 | $-0.07 | $-0.09 | $-0.12 | $-0.05 | $0.05 | $-0.11 | $0.23 | $-0.05 | |
| Shares (Basic) | 30,422,794 | 30,804,628 | -62,921,499 | 31,453,434 | 31,453,434 | 31,428,298 | -63,120,947 | 31,432,515 | 31,853,692 | 31,331,597 | -62,027,696 | 31,370,760 | 31,225,719 | 30,524,067 | -59,396,351 | 29,698,361 | |
| Shares (Diluted) | 30,422,794 | 30,804,628 | -62,921,499 | 31,453,434 | 31,453,434 | 31,428,298 | -63,120,947 | 31,432,515 | 31,853,692 | 31,331,597 | -62,083,805 | 31,370,760 | 31,281,828 | 30,524,067 | -59,395,557 | 29,698,361 | |
| EBITDA | $-603.0K | · | · | $-1M | $-820.5K | $-797.4K | · | $5M | $1M | $3M | · | $3M | $3M | $2M | · | $2M |
Balance Sheet 24
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $15M | $29M | $29M | $37M | $30M | $22M | $28M | $19M | $25M | $17M | $22M | $31M | $32M | $16M | $25M | $39M | |
| Short-term Investments | $4M | $28M | $28M | $31M | $39M | $47M | $45M | $39M | $28M | $36M | $25M | $9M | $12M | $12M | $6M | $8M | |
| Receivables | $5M | $12M | $16M | $15M | $13M | $13M | $12M | $14M | $14M | $12M | $12M | $7M | $7M | $6M | $6M | $6M | |
| Prepaid Expense | $3M | $5M | $6M | $5M | $6M | $5M | $5M | $5M | $5M | $5M | $6M | $5M | $8M | $5M | $5M | $5M | |
| Current Assets | $125M | $110M | $119M | $126M | $124M | $126M | $117M | $109M | $101M | $130M | $131M | $130M | $158M | $138M | $114M | $131M | |
| PP&E (Net) | $175M | $175M | $173M | $168M | $167M | $165M | $162M | $157M | $154M | $149M | $144M | $149M | $130M | $121M | $116M | $105M | |
| Accum. Depreciation | $74M | $71M | $66M | $62M | $58M | $54M | $50M | $46M | $43M | $39M | $36M | $33M | $30M | $27M | $24M | $22M | |
| Goodwill | $171M | $182M | $182M | $182M | $182M | $182M | $182M | $182M | $182M | $182M | $182M | $181M | $181M | $179M | $179M | $171M | |
| Intangibles | $47M | $50M | $51M | $53M | $55M | $56M | $58M | $60M | $62M | $64M | $66M | $66M | $66M | $67M | $68M | $66M | |
| Other Non-current Assets | $127.0K | $172.0K | $172.1K | $172.1K | $170.0K | $175.0K | $171.8K | $164.8K | $143.9K | $143.9K | $119.4K | $121.4K | $121.4K | $116.4K | $116.4K | $119.3K | |
| Total Assets | $683M | $696M | $713M | $721M | $731M | $731M | $728M | $712M | $723M | $757M | $768M | $764M | $773M | $706M | $688M | $675M | |
| Accounts Payable | $8M | $12M | $14M | $22M | $21M | $19M | $16M | $19M | $19M | $16M | $18M | $14M | $13M | $11M | $11M | $10M | |
| Current Liabilities | $61M | $59M | $60M | $61M | $61M | $57M | $55M | $52M | $50M | $44M | $51M | $46M | $53M | $50M | $53M | $52M | |
| Capital Leases | $49M | $53M | $54M | $55M | $55M | $56M | $55M | $55M | $55M | $56M | $56M | $57M | $58M | $59M | $59M | $58M | |
| Deferred Tax | $8M | $11M | $12M | $10M | $11M | $12M | $12M | $11M | $11M | $11M | $12M | $14M | $14M | $13M | $15M | $18M | |
| Other Non-current Liabilities | $57.0K | $73.0K | $88.3K | $105.6K | $124.2K | $1M | $1M | $1M | $1M | $1M | $2M | $2M | $2M | $314.2K | $335.8K | $341.1K | |
| Total Liabilities | $168M | $173M | $177M | $173M | $175M | $171M | $166M | $159M | $158M | $143M | $152M | $149M | $157M | $152M | $158M | $159M | |
| Long-term Debt | $25M | $26M | $26M | $26M | $26M | $26M | $26M | $27M | $27M | $27M | $27M | $28M | $28M | $28M | $28M | $29M | |
| Total Debt | $48M | · | · | $45M | $46M | $43M | · | $36M | $37M | $27M | · | $28M | $28M | $28M | · | $29M | |
| Paid-in Capital | $541M | $541M | $541M | $540M | $540M | $540M | $539M | $539M | $539M | $523M | $523M | $522M | $522M | $512M | $484M | $484M | |
| Retained Earnings | $-21M | $-19M | $-17M | $-10M | $-8M | $-5M | $-5M | $-10M | $-8M | $13M | $16M | $19M | $21M | $16M | $23M | $16M | |
| Treasury Stock | $18M | $12M | $7M | $2M | $2M | $2M | $2M | $1M | · | · | $0 | · | · | · | · | · | |
| Stockholders' Equity | $502M | $509M | $516M | $528M | $531M | $533M | $533M | $528M | $530M | $536M | $538M | $541M | $543M | $528M | $507M | $500M | |
| Liabilities + Equity | $683M | $696M | $713M | $721M | $731M | $731M | $728M | $712M | $723M | $757M | $768M | $764M | $773M | $706M | $688M | $675M |
Cash Flow 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | · | · | · | · | $6M | $5M | $5M | · | $5M | $5M | $5M | $4M | $4M | |
| Deferred Tax | · | · | $2M | $-809.4K | $-740.3K | $-190.4K | · | $-536.3K | $-5.9K | $-939.3K | $-2M | $-666.0K | $1M | $-2M | $-4M | $-580.3K | |
| Other Non-cash | · | · | · | · | · | · | · | · | · | $824.5K | · | · | · | $2M | · | · | |
| Operating Cash Flow | $6M | $4M | $6M | $5M | $5M | $3M | $9M | $5M | $5M | $2M | $4M | $8M | $3M | $1M | $4M | $5M | |
| CapEx | $5M | $6M | $8M | $5M | $7M | $7M | $9M | $6M | $9M | $8M | $9M | $22M | $13M | $8M | $10M | $17M | |
| Investing Cash Flow | · | $5M | $-11M | $9M | $-155.3K | $-11M | $-2M | $-262.3K | $7M | $23M | $-15M | $-10M | $-1M | $-38M | $-17M | $-6M | |
| Net Debt Issued | · | · | · | · | · | $-359.1K | · | · | · | $-202.1K | · | · | · | $-384.4K | · | · | |
| Stock Issued | $0 | $0 | $0 | $0 | $0 | $525.0K | $0 | $0 | $0 | $0 | $0 | $0 | $9M | $28M | $205.4K | $0 | |
| Net Stock Activity | · | · | · | · | · | $525.3K | · | · | · | $0 | · | · | · | $28M | · | · | |
| Financing Cash Flow | · | $-11M | $-4M | $-5M | $3M | $7M | $1M | $-10M | $-34M | $-5M | $-1M | $-6M | $9M | $30M | $6M | $109.0K | |
| Net Change in Cash | · | $-2M | $-10M | $9M | $7M | $-2M | $9M | $-5M | $-23M | $21M | $-13M | $-8M | $11M | $-6M | $-6M | $-969.1K | |
| Taxes Paid | $55.0K | $4.0K | · | · | $18.0K | $3.0K | · | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | · | · | · | · | · | $-4M | · | · | · | $-6M | · | · | · | $-7M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-6M | · | · | · | $-7M | · | · |
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 | 72.1% | · | · | 66.2% | 66.1% | 67.2% | · | 67.5% | 68.2% | 67.9% | · | 67.4% | 67.6% | 65.2% | · | 64.9% | |
| Operating Margin | -2.7% | · | · | -3.7% | -2.9% | -2.9% | · | -2.7% | -16.2% | -8.1% | · | -7.9% | -6.8% | -13.1% | · | -8.4% | |
| Net Margin | -7.3% | · | · | -9.0% | -8.2% | -2.4% | · | -5.8% | -8.2% | -11.0% | · | -6.7% | 6.4% | -14.6% | · | -6.6% | |
| Pretax Margin | -14.0% | · | · | -18.0% | -18.8% | -9.4% | · | -6.5% | -7.5% | -16.4% | · | -12.9% | 7.1% | -22.3% | · | -9.2% | |
| EBITDA Margin | -2.7% | · | · | -3.7% | -2.9% | -2.9% | · | 17.8% | 3.9% | 12.8% | · | 12.4% | 13.2% | 6.7% | · | 11.1% | |
| ROA | -0.23% | · | · | -0.36% | -0.32% | -0.09% | · | -0.22% | -0.30% | -0.38% | · | -0.23% | 0.21% | -0.48% | · | -0.19% | |
| ROE | -0.31% | · | · | -0.49% | -0.44% | -0.13% | · | -0.30% | -0.42% | -0.53% | · | -0.32% | 0.30% | -0.64% | · | -0.28% | |
| ROIC | -0.09% | · | · | -0.15% | -0.12% | -0.13% | · | -0.09% | -0.77% | -0.28% | · | -0.26% | -0.11% | -0.36% | · | -0.22% |
Liquidity & Solvency 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.0 | · | · | 2.1 | 2.0 | 2.2 | · | 2.1 | 2.0 | 2.9 | · | 2.8 | 3.0 | 2.7 | · | 2.5 | |
| Quick Ratio | 0.4 | · | · | 1.4 | 1.3 | 1.4 | · | 1.4 | 1.3 | 1.5 | · | 1.0 | 1.0 | 0.7 | · | 1.0 | |
| Debt / Equity | 0.1 | · | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| LT Debt / Equity | 0.1 | · | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.0 | · | 0.0 | 0.0 | 0.1 | · | 0.1 | |
| Interest Coverage | · | · | · | · | · | · | · | -1.6 | -11.9 | -7.3 | · | -6.8 | -5.7 | -10.3 | · | -5.9 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | · | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | |
| Receivables Turnover | 2.4 | · | · | 2.0 | 2.1 | 2.2 | · | 2.6 | 2.6 | 2.7 | · | 3.5 | 3.5 | 4.0 | · | 3.9 |
Valuation (TTM) 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $101M | $113M | · | $112M | $111M | $108M | · | $105M | $101M | $97M | · | $93M | $89M | $81M | · | $73M | |
| Net Income TTM | $-9M | $-8M | · | $-7M | $-7M | $-7M | · | $-8M | $-5M | $-6M | · | $-5M | $-15M | $76.6K | · | $-23M | |
| P/E | -50.5 | -48.7 | · | -59.5 | -66.9 | -63.4 | · | -57.2 | -84.1 | -77.3 | · | -102.4 | -37.6 | · | · | -29.5 | |
| Earnings Yield | -2.0% | -2.1% | · | -1.7% | -1.5% | -1.6% | · | -1.8% | -1.2% | -1.3% | · | -0.98% | -2.7% | 0.00% | · | -3.4% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2023-06-30 | 2022-12-31 | |
|---|---|---|---|---|---|
| Revenue | $114M | $108M | $96M | — | $81M |
| Gross Margin % | — | — | — | — | 67.1% |
| Operating Margin % | — | — | — | — | -6.4% |
| Net Income | $-12M | $-1M | $-7M | — | $10M |
| Diluted EPS | $-0.40 | $-0.04 | $-0.23 | — | $0.34 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2023-06-30 | 2022-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | 0.1 |
| Current Ratio | — | — | — | — | 2.2 |
| Quick Ratio | — | — | — | — | 0.7 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2023-06-30 | 2022-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | — | — | — | — | $-45M |
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Institutional owners (13F) 148 filers · $241.7M 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 |
|---|---|---|---|---|
| 31 (+9 vs prior Q) | 9 (-3 vs prior Q) | 51 (+22 vs prior Q) | 22 (-15 vs prior Q) | -985K |
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 |
|---|---|---|---|---|
| MAGNOLIA GROUP, LLC | $76,237,411 | 5,589,253 | 31.55% | Shares |
| MASSACHUSETTS INSTITUTE OF TECHNOLOGY | $33,342,611 | 2,444,473 | 13.80% | Shares |
| Elgethun Capital Management | $19,940,957 | 1,461,947 | 8.25% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $18,855,881 | 1,382,396 | 7.80% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $13,209,740 | 968,456 | 5.47% | Shares |
| PRIVATE MANAGEMENT GROUP INC | $12,751,709 | 934,876 | 5.28% | Shares |
| STATE STREET CORP | $7,297,823 | 535,031 | 3.02% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $6,526,574 | 478,362 | 2.70% | Shares |
| Nitor Capital Management LLC | $5,673,558 | 415,950 | 2.35% | Shares |
| FIRST MANHATTAN CO. LLC. | $5,377,475 | 394,243 | 2.23% | Shares |
| STEVENS CAPITAL PARTNERS | $4,958,498 | 363,526 | 2.05% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $3,155,328 | 231,329 | 1.31% | Shares |
| TWO SIGMA INVESTMENTS, LP | $2,549,166 | 186,889 | 1.05% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $1,984,238 | 145,472 | 0.82% | Shares |
| George Kaiser Family Foundation | $1,922,312 | 140,932 | 0.80% | Shares |
| BlackRock, Inc. | $1,827,951 | 134,014 | 0.76% | Shares |
| GOLDMAN SACHS GROUP INC | $1,545,385 | 113,298 | 0.64% | Shares |
| Brandywine Global Investment Management, LLC | $1,543,652 | 124,790 | 0.64% | Shares |
| Meixler Investment Management, Ltd. | $1,308,008 | 95,895 | 0.54% | Shares |
| Ironvine Capital Partners, LLC | $1,224,299 | 89,758 | 0.51% | Shares |
| Qube Research & Technologies Ltd | $1,050,075 | 76,985 | 0.43% | Shares |
| D. E. Shaw & Co., Inc. | $893,652 | 65,517 | 0.37% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $848,149 | 62,181 | 0.35% | Shares |
| Quantinno Capital Management LP | $817,186 | 59,911 | 0.34% | Shares |
| Trexquant Investment LP | $815,522 | 59,789 | 0.34% | Shares |
| TWO SIGMA ADVISERS, LP | $771,888 | 62,400 | 0.32% | Shares |
| AMERICAN CENTURY COMPANIES INC | $758,698 | 55,623 | 0.31% | Shares |
| Equitable Holdings, Inc. | $754,633 | 55,325 | 0.31% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $753,583 | 55,248 | 0.31% | Shares |
| JANE STREET GROUP, LLC | $720,901 | 52,852 | 0.30% | Shares |
| MILLENNIUM MANAGEMENT LLC | $674,007 | 49,414 | 0.28% | Shares |
| Alpha Cubed Investments, LLC | $635,917 | 51,408 | 0.26% | Shares |
| TUDOR INVESTMENT CORP ET AL | $586,397 | 42,991 | 0.24% | Shares |
| XTX Topco Ltd | $560,222 | 41,072 | 0.23% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $536,052 | 39,300 | 0.22% | Call option |
| MANGROVE PARTNERS IM, LLC | $497,451 | 36,470 | 0.21% | Shares |
| BANK OF AMERICA CORP /DE/ | $482,024 | 35,339 | 0.20% | Shares |
| RHUMBLINE ADVISERS | $395,088 | 28,966 | 0.16% | Shares |
| ArrowMark Colorado Holdings LLC | $380,420 | 27,890 | 0.16% | Shares |
| Flagstone Financial Management | $337,931 | 24,775 | 0.14% | Shares |
| Bank of New York Mellon Corp | $335,094 | 24,567 | 0.14% | Shares |
| CITADEL ADVISORS LLC | $313,720 | 23,000 | 0.13% | Call option |
| EntryPoint Capital, LLC | $312,533 | 22,913 | 0.13% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $310,351 | 22,753 | 0.13% | Shares |
| ExodusPoint Capital Management, LP | $307,350 | 22,533 | 0.13% | Shares |
| DEUTSCHE BANK AG\ | $293,301 | 21,503 | 0.12% | Shares |
| FRANKLIN RESOURCES INC | $279,620 | 20,500 | 0.12% | Shares |
| ALLIANCEBERNSTEIN L.P. | $271,794 | 23,270 | 0.11% | Shares |
| Susquehanna Portfolio Strategies, LLC | $270,849 | 19,857 | 0.11% | Shares |
| Cetera Investment Advisers | $253,540 | 18,588 | 0.10% | Shares |
| Global Retirement Partners, LLC | $234,785 | 17,213 | 0.10% | Shares |
| Waterloo Capital, L.P. | $229,152 | 16,800 | 0.09% | Shares |
| Balyasny Asset Management L.P. | $224,187 | 16,436 | 0.09% | Shares |
| INSIGNEO ADVISORY SERVICES, LLC | $205,146 | 15,040 | 0.08% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $204,095 | 14,963 | 0.08% | Shares |
| AlphaQuest LLC | $199,949 | 16,164 | 0.08% | Shares |
| JANE STREET GROUP, LLC | $173,228 | 12,700 | 0.07% | Call option |
| RENAISSANCE TECHNOLOGIES LLC | $169,136 | 12,400 | 0.07% | Shares |
| MetLife Investment Management, LLC | $162,384 | 11,905 | 0.07% | Shares |
| FMR LLC | $147,598 | 10,821 | 0.06% | Shares |
| Creative Planning | $146,307 | 10,726 | 0.06% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $141,597 | 10,381 | 0.06% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $138,419 | 10,148 | 0.06% | Shares |
| RAYMOND JAMES FINANCIAL INC | $127,698 | 9,362 | 0.05% | Shares |
| UBS Group AG | $127,220 | 9,327 | 0.05% | Shares |
| VANGUARD GROUP INC | $123,898 | 10,016 | 0.05% | Shares |
| Invesco Ltd. | $120,141 | 8,808 | 0.05% | Shares |
| BFSG, LLC | $119,282 | 8,745 | 0.05% | Shares |
| Vanguard Global Advisers, LLC | $108,097 | 7,925 | 0.04% | Shares |
| SIMPLEX TRADING, LLC | $89,410 | 6,555 | 0.04% | Shares |
| BARCLAYS PLC | $79,945 | 5,861 | 0.03% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $78,335 | 5,743 | 0.03% | Shares |
| Police & Firemen's Retirement System of New Jersey | $76,125 | 5,581 | 0.03% | Shares |
| PITTENGER & ANDERSON INC | $57,970 | 4,250 | 0.02% | Shares |
| CITADEL ADVISORS LLC | $57,397 | 4,208 | 0.02% | Shares |
| PNC Financial Services Group, Inc. | $53,551 | 3,926 | 0.02% | Shares |
| OSAIC HOLDINGS, INC. | $53,262 | 3,905 | 0.02% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $52,198 | 4,469 | 0.02% | Shares |
| Russell Investments Group, Ltd. | $47,917 | 3,513 | 0.02% | Shares |
| NORTHERN TRUST CORP | $47,099 | 3,453 | 0.02% | Shares |
| Security National Bank | $38,192 | 2,800 | 0.02% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $33,097 | 2,439 | 0.01% | Shares |
| Ameritas Investment Partners, Inc. | $31,072 | 2,278 | 0.01% | Shares |
| Tower Research Capital LLC (TRC) | $28,685 | 2,103 | 0.01% | Shares |
| Legal & General Group Plc | $27,130 | 1,989 | 0.01% | Shares |
| MORGAN STANLEY | $25,220 | 1,849 | 0.01% | Shares |
| VISION FINANCIAL MARKETS LLC | $21,340 | 500 | 0.01% | Shares |
| Aquatic Capital Management LLC | $21,128 | 1,549 | 0.01% | Shares |
| NISA INVESTMENT ADVISORS, LLC | $20,555 | 1,507 | 0.01% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $13,759 | 1,178 | 0.01% | Shares |
| GAMMA Investing LLC | $13,040 | 956 | 0.01% | Shares |
| Cove Street Capital, LLC | $11,249 | 860 | 0.00% | Shares |
| Kilter Group LLC | $10,531 | 772 | 0.00% | Shares |
| ROYAL BANK OF CANADA | $9,000 | 660 | 0.00% | Shares |
| Farther Finance Advisors, LLC | $8,116 | 595 | 0.00% | Shares |
| Grove Bank & Trust | $6,820 | 500 | 0.00% | Shares |
| Nuveen Asset Management, LLC | $6,083 | 429 | 0.00% | Shares |
| Nuveen, LLC | $5,852 | 429 | 0.00% | Shares |
| Arax Advisory Partners | $5,798 | 425 | 0.00% | Shares |
| Sterling Capital Management LLC | $5,729 | 420 | 0.00% | Shares |
Company insiders 2 insiders · 0 officers · 0 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| BOSTON OMAHA Corp | — | Aug. 11, 2026 S | 8,306,163 | 0 | 1 | $-3,600,000 |
| Frank H. Kenan II | — | June 1, 2026 P | 315,991 | 3 | 0 | $671,258 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 4 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 |
|---|---|---|---|---|---|
| BOSTON OMAHA Corp ×4 filings | Aug. 13, 2026 | 40.50% | Amendment | — | SEC |
| Magnolia Capital Fund, LP, Magnolia BOC I, LP, The Magnolia Group, LLC, Adam K. Peterson ×12 filings | Jan. 14, 2025 | 21.50% | Amendment | Passive investment | SEC |
| Boston Omaha Corporation ×3 filings | May 31, 2024 | — | Initial filing | — | SEC |
| Boulderado Partners, LLC, Boulderado Capital, LLC, Boulderado Group, LLC, Alex B. Rozek ×8 filings | April 8, 2021 | — | Initial filing | Passive investment | 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 33 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 |
|---|---|---|---|---|
| DFSV · Dimensional ETF Trust | 0.02% | 155,754 NS | April 30, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.02% | 49,219 NS | May 31, 2026 | N-PORT |
| GSSC · Goldman Sachs ETF Trust | 0.02% | 16,173 NS | May 31, 2026 | N-PORT |
| TMFX · RBB Fund, Inc. | 0.02% | 518 NS | May 31, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.01% | 135,672 NS | April 30, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.01% | 99,447 NS | April 30, 2026 | N-PORT |
| RSSL · Global X Funds | 0.01% | 9,458 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.01% | 1,024 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 801 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 809 NS | May 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 77,189 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 820 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 20 NS | May 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 1,981 NS | April 30, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 2,411 NS | April 30, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 5,846 NS | April 30, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 9,300 NS | April 30, 2026 | N-PORT |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.00% | 3,267 NS | May 31, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.00% | 12 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| ITOT · iShares Trust | — | — | July 22, 2026 | Daily |
| IWV · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IWN · iShares Trust | — | — | Aug. 17, 2026 | Daily |
| IWO · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IWM · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IWC · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | — | — | July 13, 2026 | Daily |
| VOX · VANGUARD WORLD FUND | — | — | July 20, 2026 | Daily |