CADL Candel Therapeutics, Inc. - Common Stock

NASDAQ · Biotechnology · View on SEC EDGAR ↗
$12.74
Price · Aug 19, 2026
Fundamentals as of Aug 13, 2026
52W Range
$4–$13
98% of range
Analyst Rating
BUY
15 analysts
Price Target
$21
+64% upside
P/E (TTM)
-23.7
ROE
-53.7%
Net Profit Margin
—

CADL Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price
$12.74
Market Cap
$935M
P/E (TTM)
-23.7
EPS (TTM)
$-0.72
Revenue (TTM)
—
Div Yield
—
ROE
-53.7%
Debt/Equity
0.0
52W Range
$4 – $13

CADL Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income —
Flat — no change across 3 periods
2020-12-31 → 2022-12-31
EPS $-0.72
5-point trend, +62.3%
2021-12-31 → 2025-12-31
Free Cash Flow $-39M
3-point trend, -61.7%
2021-12-31 → 2025-12-31
Margins —

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric
5Y trend
CADL
Peer Median
P/E (TTM)
5-point trend, -91.7%
-23.7
—
P/S (TTM)
3-point trend, +39.4%
7539.3
41.8
P/B
3-point trend, +70.8%
18.0
3.4
EV / EBITDA
2-point trend, +58.2%
-16.9
—
Price / FCF
3-point trend, +14.5%
-24.0
—

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
CADL
Peer Median
ROA
3-point trend, +41.9%
-32.9%
-36.3%
ROE
3-point trend, +5.5%
-53.7%
-46.0%
ROIC
-93.0%
—

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
CADL
Peer Median
Debt / Equity
2-point trend, -100.0%
0.0
—
Current Ratio
3-point trend, -14.8%
13.5
13.1
Quick Ratio
3-point trend, -13.7%
13.3
—

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
CADL
Peer Median

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
CADL
Peer Median
EPS (Diluted)
5-point trend, +62.3%
$-0.72
—

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
CADL
Peer Median

CADL Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 15 analysts
  • Strong Buy 4 26.7%
  • Buy 9 60.0%
  • Hold 2 13.3%
  • Sell 0 0.0%
  • Strong Sell 0 0.0%

12-Month Price Target

8 analysts · 2026-08-19
Median target $22.50 +76.6%
Mean target $20.88 +63.9%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise
0.04%
Period EPS Actual EPS Est Surprise
March 31, 2026 $-0.14 $-0.32 0.18%
Dec. 31, 2025 $-0.54 $-0.25 -0.29%
Sept. 30, 2025 $-0.21 $-0.19 -0.02%
June 30, 2025 $-0.09 $-0.17 0.08%
March 31, 2025 $0.13 $-0.31 0.44%
Dec. 31, 2024 $-0.40 $-0.23 -0.17%

Peer comparison (GICS sub-industry) Key metrics vs sector peers

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
CADL $310M -7.8 — — -53.7% —
ANIX $136M -12.1 0.00% — -62.2% —
INO $120M -1.0 -70.0% -130000.0% -322.8% —
XGN $139M -6.5 19.7% -30.0% -103.7% 58.3%
COYA $121M -4.6 123.6% -267.1% -59.5% —
BMEA $90M -1.1 -67.1% -3326.0% -216.6% —
FBIO — — — — — —
ALDX $312M -9.2 — — -68.0% —

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 16
Annual Income Statement data for CADL
Metric Trend 202520242023202220212020
Revenue Flat — no change across 3 periods · · · $125.0K $125.0K $125.0K
R&D Expense 6-point trend, +248.4% $30M $19M $25M $21M $15M $9M
SG&A Expense 6-point trend, +243.0% $18M $14M $14M $14M $11M $5M
Operating Expenses 6-point trend, +246.4% $48M $33M $38M $35M $26M $14M
Operating Income 6-point trend, -249.5% $-48M $-33M $-38M $-35M $-26M $-14M
Interest Expense 4-point trend, +24.1% $2M $2M $-3M $2M · ·
Interest Income 2-point trend, +70.9% · · $2M $1M · ·
Other Non-op 6-point trend, +360.6% $10M $-22M $452.0K $16M $-10M $-4M
Pretax Income 2-point trend, +30.8% $-38M $-55M · · · ·
Income Tax Flat — no change across 5 periods $0 $0 $0 $0 $0 ·
Net Income 6-point trend, -116.0% $-38M $-55M $-38M $-19M $-36M $-18M
EPS (Basic) 5-point trend, +62.3% $-0.72 $-1.74 $-1.31 $-0.65 $-1.91 ·
EPS (Diluted) 5-point trend, +62.3% $-0.72 $-1.74 $-1.31 $-0.65 $-1.91 ·
Shares (Basic) 5-point trend, +180.6% 52,958,644 31,675,076 28,935,289 28,823,480 18,873,048 ·
Shares (Diluted) 5-point trend, +180.6% 52,958,644 31,675,076 28,935,289 28,823,480 18,873,048 ·
EBITDA 3-point trend, -89.3% $-48M $-33M · · $-25M ·
Balance Sheet 21
Annual Balance Sheet data for CADL
Metric Trend 202520242023202220212020
Cash & Equivalents 6-point trend, +241.6% $120M $103M $35M $70M $83M $35M
Prepaid Expense 6-point trend, +1682.8% $2M $1M $1M $2M $2M $93.0K
Current Assets 6-point trend, +245.4% $121M $104M $37M $72M $85M $35M
PP&E (Net) 6-point trend, -41.1% $2M $2M $3M $4M $4M $3M
PP&E (Gross) 6-point trend, +78.0% $5M $5M $5M $6M $4M $3M
Accum. Depreciation 6-point trend, +2555.2% $4M $3M $2M $1M $352.0K $134.0K
Other Non-current Assets 2-point trend, +21.5% · · · · $424.0K $349.0K
Total Assets 6-point trend, +227.0% $125M $107M $41M $78M $89M $38M
Accounts Payable 6-point trend, +22.6% $1M $237.0K $422.0K $380.0K $2M $921.0K
Accrued Liabilities 6-point trend, +133.4% $7M $5M $4M $5M $3M $3M
Current Liabilities 6-point trend, +90.9% $9M $38M $14M $6M $5M $5M
Capital Leases 4-point trend, -1.8% $1M $407.0K $973.0K $1M · ·
Total Liabilities 6-point trend, +473.2% $73M $41M $28M $30M $25M $13M
Long-term Debt 4-point trend, +2307.5% · $12M $21M · $560.0K $483.0K
Total Debt 2-point trend, -100.0% $0 $12M · · · ·
Common Stock 6-point trend, +374.1% $550.0K $469.0K $290.0K $290.0K $286.0K $116.0K
Retained Earnings 6-point trend, -421.6% $-230M $-192M $-137M $-99M $-80M $-44M
Treasury Stock Flat — no change across 4 periods $448.0K $448.0K $448.0K $448.0K · ·
Stockholders' Equity 6-point trend, +320.4% $52M $66M $13M $48M $64M $-24M
Liabilities + Equity 6-point trend, +227.0% $125M $107M $41M $78M $89M $38M
Shares Outstanding 6-point trend, +371.8% 54,898,303 46,933,088 29,213,627 29,042,418 28,689,842 11,635,094
Cash Flow 11
Annual Cash Flow data for CADL
Metric Trend 202520242023202220212020
D&A 3-point trend, +754.9% · · · $778.0K $232.0K $91.0K
Stock-based Comp 6-point trend, +81.2% $4M $5M $3M $2M $3M $2M
Other Non-cash · · · · $11M ·
Operating Cash Flow 6-point trend, -322.3% $-38M $-27M $-34M $-31M $-22M $-9M
CapEx 6-point trend, -60.2% $587.0K $16.0K $457.0K $1M $2M $1M
Investing Cash Flow 6-point trend, -101.5% $-560.0K $-16.0K $-280.0K $-1M $-2M $38M
Financing Cash Flow 6-point trend, +11348.6% $56M $94M $-121.0K $20M $72M $490.0K
Net Change in Cash 6-point trend, -42.3% $17M $67M $-35M $-13M $48M $30M
Taxes Paid 3-point trend, +96.8% · · · $183.0K $29.0K $93.0K
Free Cash Flow 3-point trend, -61.7% $-39M $-27M · · $-24M ·
Levered FCF $-41M · · · · ·
Profitability 6
Annual Profitability data for CADL
Metric Trend 202520242023202220212020
Operating Margin · · · · -20580.8% ·
Net Margin · · · · -28899.2% ·
EBITDA Margin · · · · -20395.2% ·
ROA 3-point trend, +41.9% -32.9% -74.5% · · -56.7% ·
ROE 3-point trend, +5.5% -53.7% -216.1% · · -56.8% ·
ROIC -93.0% · · · · ·
Liquidity & Solvency 5
Annual Liquidity & Solvency data for CADL
Metric Trend 202520242023202220212020
Current Ratio 3-point trend, -14.8% 13.5 2.8 · · 15.8 ·
Quick Ratio 3-point trend, -13.7% 13.3 2.7 · · 15.4 ·
Debt / Equity 2-point trend, -100.0% 0.0 0.2 · · · ·
LT Debt / Equity · 0.0 · · · ·
Interest Coverage 2-point trend, -242.7% -22.8 16.0 · · · ·
Efficiency 1
Annual Efficiency data for CADL
Metric Trend 202520242023202220212020
Asset Turnover · · · · 0.0 ·
Per Share 4
Annual Per Share data for CADL
Metric Trend 202520242023202220212020
Book Value / Share 3-point trend, -57.7% $0.95 $1.42 · · $2.24 ·
Cash Flow / Share 2-point trend, +15.2% $-0.72 $-0.85 · · · ·
Cash / Share 3-point trend, -24.3% $2.18 $2.19 · · $2.88 ·
EPS (TTM) 5-point trend, +62.3% $-0.72 $-1.74 $-1.31 $-0.65 $-1.91 ·
Growth Rates 1
Annual Growth Rates data for CADL
Metric Trend 202520242023202220212020
Revenue YoY Flat — no change across 2 periods · · · 0.00% 0.00% ·
Valuation (TTM) 14
Annual Valuation (TTM) data for CADL
Metric Trend 202520242023202220212020
Revenue TTM 5-point trend, -0.8% $124.0K $124.0K $124.0K $125.0K $125.0K ·
Net Income TTM 5-point trend, -5.7% $-38M $-55M $-38M $-19M $-36M ·
Market Cap 3-point trend, +38.3% $310M $406M · · $224M ·
Enterprise Value 2-point trend, -39.6% $190M $315M · · · ·
P/E 5-point trend, -91.7% -7.8 -5.0 -1.1 -2.8 -4.1 ·
P/S 3-point trend, +39.4% 2501.4 3276.7 · · 1794.8 ·
P/B 3-point trend, +70.8% 6.0 6.1 · · 3.5 ·
P / Tangible Book 5-point trend, +70.8% 6.0 6.1 3.4 1.1 3.5 ·
P / Cash Flow 3-point trend, +19.8% -8.1 -15.0 · · -10.1 ·
P / FCF 3-point trend, +14.5% -8.0 -15.0 · · -9.3 ·
EV / EBITDA 2-point trend, +58.2% -3.9 -9.4 · · · ·
EV / FCF 2-point trend, +58.0% -4.9 -11.7 · · · ·
EV / Revenue 2-point trend, -39.6% 1535.8 2542.7 · · · ·
Earnings Yield 5-point trend, +47.8% -12.7% -20.1% -89.1% -36.3% -24.4% ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement
2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue ———$125.0K$125.0K
Operating Margin % ————-20580.8%
Net Income $-38M$-55M$-38M$-19M$-36M
Diluted EPS $-0.72$-1.74$-1.31$-0.65$-1.91
Balance Sheet
2025-12-312024-12-312023-12-312022-12-312021-12-31
Debt / Equity 0.00.2———
Current Ratio 13.52.8——15.8
Quick Ratio 13.32.7——15.4
Cash Flow
2025-12-312024-12-312023-12-312022-12-312021-12-31
Free Cash Flow $-39M$-27M——$-24M

Latest News Recent headlines mentioning this company

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Institutional owners (13F) 149 filers · $418.4M 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
46 (+12 vs prior Q) 12 (+6 vs prior Q) 48 (+9 vs prior Q) 36 (+13 vs prior Q) +6.2M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
FMR LLC $83,792,642 8,135,208 20.03% Shares
RTW INVESTMENTS, LP $66,146,785 6,422,018 15.81% Shares
STATE STREET CORP $36,563,177 3,549,823 8.74% Shares
ACORN CAPITAL ADVISORS, LLC $36,028,864 3,497,948 8.61% Shares
Portolan Capital Management, LLC $35,951,099 3,490,398 8.59% Shares
Saturn V Capital Management LP $34,027,966 3,303,686 8.13% Shares
VANGUARD CAPITAL MANAGEMENT LLC $27,748,612 2,694,040 6.63% Shares
GEODE CAPITAL MANAGEMENT, LLC $13,866,251 1,346,008 3.31% Shares
MILLENNIUM MANAGEMENT LLC $11,267,222 1,093,905 2.69% Shares
Halter Ferguson Financial Inc. $7,956,345 772,461 1.90% Shares
KENNEDY CAPITAL MANAGEMENT LLC $5,029,397 488,291 1.20% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $4,502,645 437,150 1.08% Shares
VANGUARD FIDUCIARY TRUST CO $4,244,723 412,109 1.01% Shares
Sands Capital Alternatives, LLC $4,180,121 405,837 1.00% Shares
BANK OF AMERICA CORP /DE/ $2,405,019 233,497 0.57% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $2,054,376 199,454 0.49% Shares
Tanager Wealth Management LLP $2,041,203 198,175 0.49% Shares
JANE STREET GROUP, LLC $1,561,480 151,600 0.37% Call option
CITADEL ADVISORS LLC $1,503,965 146,016 0.36% Shares
GOLDMAN SACHS GROUP INC $1,450,219 140,798 0.35% Shares
Point72 Asset Management, L.P. $1,330,585 129,183 0.32% Shares
COMMONWEALTH EQUITY SERVICES, LLC $1,193,510 115,875 0.29% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $1,175,230 114,100 0.28% Call option
D. E. Shaw & Co., Inc. $1,122,010 108,933 0.27% Shares
WELLINGTON MANAGEMENT GROUP LLP $1,108,651 107,636 0.26% Shares
Trexquant Investment LP $1,043,565 101,317 0.25% Shares
Ghisallo Capital Management LLC $1,030,000 100,000 0.25% Shares
Kynam Capital Management, LP $996,432 96,741 0.24% Shares
JANUS HENDERSON GROUP PLC $845,272 171,978 0.20% Shares
CITIGROUP INC $843,086 81,853 0.20% Shares
RHUMBLINE ADVISERS $803,856 78,045 0.19% Shares
MORGAN STANLEY $789,650 76,665 0.19% Shares
Squarepoint Ops LLC $774,673 75,211 0.19% Shares
ALPS ADVISORS INC $765,939 74,363 0.18% Shares
Balyasny Asset Management L.P. $756,999 73,495 0.18% Shares
Torrey Growth & Income Advisors $739,655 66,456 0.18% Shares
Y-Intercept (Hong Kong) Ltd $705,262 68,472 0.17% Shares
HB Wealth Management, LLC $694,179 67,396 0.17% Shares
CITADEL ADVISORS LLC $636,540 61,800 0.15% Put option
COOKSON PEIRCE & CO INC $618,000 60,000 0.15% Shares
Fisher Asset Management, LLC $595,340 57,800 0.14% Shares
WELLS FARGO & COMPANY/MN $592,250 57,500 0.14% Shares
Nuveen Asset Management, LLC $592,202 68,226 0.14% Shares
Rafferty Asset Management, LLC $579,478 56,260 0.14% Shares
Lido Advisors, LLC $562,895 54,650 0.13% Shares
Belpointe Asset Management LLC $543,613 52,778 0.13% Shares
MARTINGALE ASSET MANAGEMENT L P $525,136 50,984 0.13% Shares
Militia Capital Management LLC $516,030 50,100 0.12% Shares
Birchview Capital, LP $491,887 47,756 0.12% Shares
CITADEL ADVISORS LLC $454,230 44,100 0.11% Call option
CARY STREET PARTNERS FINANCIAL LLC $443,930 43,100 0.11% Shares
SEI INVESTMENTS CO $441,973 42,910 0.11% Shares
AMERICAN CENTURY COMPANIES INC $439,213 42,642 0.10% Shares
Bank of New York Mellon Corp $432,064 41,948 0.10% Shares
Walleye Capital LLC $419,107 40,690 0.10% Shares
LPL Financial LLC $404,038 39,227 0.10% Shares
Virtus Investment Advisers, LLC $393,707 38,224 0.09% Shares
MetLife Investment Management, LLC $391,091 37,970 0.09% Shares
WINTON GROUP Ltd $384,190 37,300 0.09% Shares
AlphaCentric Advisors LLC $377,835 36,683 0.09% Shares
Vanguard Global Advisers, LLC $373,004 36,214 0.09% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $344,762 33,472 0.08% Shares
TWO SIGMA INVESTMENTS, LP $337,129 32,731 0.08% Shares
AXQ CAPITAL, LP $324,038 31,460 0.08% Shares
BARCLAYS PLC $316,890 30,766 0.08% Shares
BlackRock, Inc. $312,770 30,366 0.07% Shares
Jain Global LLC $301,213 29,244 0.07% Shares
Mitsubishi UFJ Asset Management Co., Ltd. $301,131 29,236 0.07% Shares
PROFUND ADVISORS LLC $295,373 28,677 0.07% Shares
Brevan Howard Capital Management LP $286,227 27,789 0.07% Shares
MERCER GLOBAL ADVISORS INC /ADV $259,086 25,154 0.06% Shares
LETKO, BROSSEAU & ASSOCIATES INC $258,015 25,050 0.06% Shares
Hudson Bay Capital Management LP $257,500 25,000 0.06% Shares
Invesco Ltd. $255,213 24,778 0.06% Shares
JANE STREET GROUP, LLC $245,140 23,800 0.06% Put option
AQR CAPITAL MANAGEMENT LLC $206,700 20,068 0.05% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $202,910 19,700 0.05% Put option
ALLIANCEBERNSTEIN L.P. $200,508 40,920 0.05% Shares
Police & Firemen's Retirement System of New Jersey $192,528 18,692 0.05% Shares
Quadrature Capital Ltd $187,233 18,178 0.04% Shares
Schonfeld Strategic Advisors LLC $179,970 17,473 0.04% Shares
MANUFACTURERS LIFE INSURANCE COMPANY, THE $175,141 17,004 0.04% Shares
XTX Topco Ltd $172,278 16,726 0.04% Shares
Stratos Wealth Advisors, LLC $164,800 16,000 0.04% Shares
Nuveen, LLC $161,494 15,679 0.04% Shares
MONETA GROUP INVESTMENT ADVISORS LLC $149,608 14,525 0.04% Shares
NEW YORK STATE COMMON RETIREMENT FUND $147,290 14,300 0.04% Shares
VOYA INVESTMENT MANAGEMENT LLC $129,801 12,602 0.03% Shares
INTECH INVESTMENT MANAGEMENT LLC $129,790 12,601 0.03% Shares
China Universal Asset Management Co., Ltd. $120,108 11,661 0.03% Shares
BNP PARIBAS FINANCIAL MARKETS $113,774 11,046 0.03% Shares
PRUDENTIAL FINANCIAL INC $113,352 11,005 0.03% Shares
ProShare Advisors LLC $110,210 10,700 0.03% Shares
MML INVESTORS SERVICES, LLC $106,348 10,325 0.03% Shares
DAVENPORT & Co LLC $105,060 10,200 0.03% Shares
NORTHERN TRUST CORP $102,495 9,951 0.02% Shares
Boreal Capital Management LLC $82,400 8,000 0.02% Shares
VANGUARD GROUP INC $71,896 12,725 0.02% Shares
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. $67,703 6,535 0.02% Shares
AlphaQuest LLC $67,467 11,941 0.02% Shares

Company insiders 21 insiders · 10 officers · 11 directors

Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Tak Paul Peter Chief Executive Officer Jan. 26, 2026 A 268,566 0 0 $0
Charles Schoch Chief Financial Officer Jan. 26, 2026 A 43,391 0 0 $0
Jason Amello Chief Financial Officer Nov. 28, 2023 F 202,009 0 0 $0
John J Canepa Chief Financial Officer Feb. 28, 2022 A 10,125 0 0 $0
Mark E. Sims Chief Commercial Officer July 6, 2026 A — 0 0 $0
Seshu Tyagarajan Chief Technology Officer June 29, 2026 S 83,865 0 1 $-70,140
Francesca Barone Chief Scientific Officer June 29, 2026 S 77,362 0 1 $-235,877
William Garrett Nichols Chief Medical Officer Jan. 26, 2026 A 52,493 0 0 $0
Susan B. Stewart Chief Regulatory Officer April 11, 2022 A — 0 0 $0
Nathan Caffo Chief Business Officer July 29, 2021 P 6,000 0 0 $0
Nicoletta Loggia Director June 30, 2026 A 2,141 0 0 $0
Paul B Manning Director June 30, 2026 A 2,763,527 1 0 $2,999,996
Joseph C Papa Director June 30, 2026 A 64,239 0 0 $0
Maha Radhakrishnan Director June 23, 2026 A — 0 0 $0
Christopher Martell Director June 23, 2026 A 111,349 0 0 $0
Gary J. Nabel Director June 23, 2026 A 5,353 0 0 $0
Diem Nguyen Director June 23, 2026 A 10,000 0 0 $0
Renee Gaeta Director June 23, 2026 A — 0 0 $0
Edward J. Benz JR Director June 23, 2026 A — 0 0 $0
Estuardo Aguilar-Cordova Director June 28, 2023 A 1,097,032 0 0 $0
Laura K. Aguilar 10% owner May 6, 2022 M 1,033,840 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

Activists & 5%+ owners 2 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
Paul B Manning, The Paul B. Manning Revocable Trust dated May 10, 2000, BKB Growth Investments, LLC March 18, 2026 7.90% Amendment — SEC
Paul B. Manning, The Paul B. Manning Revocable Trust dated May 10, 2000, BKB Growth Investments, LLC Feb. 14, 2022 — 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 23 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
SBIO · ALPS ETF Trust 0.39% 75,500 NS May 31, 2026 N-PORT
IWC · iShares Trust 0.15% 214,552 SH Aug. 8, 2026 Daily
IBBQ · Invesco Exchange-Traded Fund Trust … 0.05% 3,989 SH Aug. 8, 2026 Daily
IBB · iShares Trust 0.05% 424,230 SH Aug. 8, 2026 Daily
VTWG · VANGUARD SCOTTSDALE FUNDS 0.04% 63,489 SH Aug. 8, 2026 Daily
IWO · iShares Trust 0.04% 542,690 SH Aug. 8, 2026 Daily
BIB · ProShares Trust 0.03% 2,707 NS May 31, 2026 N-PORT
IWM · iShares Trust 0.02% 1,617,340 SH Aug. 8, 2026 Daily
VTWO · VANGUARD SCOTTSDALE FUNDS 0.02% 364,579 SH Aug. 8, 2026 Daily
VXF · VANGUARD INDEX FUNDS 0.01% 658,876 SH Aug. 8, 2026 Daily
ITWO · ProShares Trust 0.01% 2,143 NS May 31, 2026 N-PORT
RSSL · Global X Funds 0.01% 19,453 NS April 30, 2026 N-PORT
UWM · ProShares Trust 0.01% 1,676 NS May 31, 2026 N-PORT
URTY · ProShares Trust 0.00% 1,693 NS May 31, 2026 N-PORT
MSSM · MORGAN STANLEY PATHWAY FUNDS 0.00% 2,322 NS May 31, 2026 N-PORT
IWN · iShares Trust 0.00% 32,347 SH Aug. 8, 2026 Daily
HDG · ProShares Trust 0.00% 43 NS May 31, 2026 N-PORT
ITOT · iShares Trust 0.00% 122,394 SH Aug. 8, 2026 Daily
IWV · iShares Trust 0.00% 20,429 SH Aug. 8, 2026 Daily
AVSC · AMERICAN CENTURY ETF TRUST 0.00% 1,593 NS May 31, 2026 N-PORT
VTI · VANGUARD INDEX FUNDS 0.00% 1,968,034 SH Aug. 8, 2026 Daily
VTWV · VANGUARD SCOTTSDALE FUNDS 0.00% 3,753 SH Aug. 8, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS 0.00% 5,329 SH Aug. 8, 2026 Daily