EQIX Equinix, Inc. - Common Stock
About Equinix, Inc. - Common Stock Company overview from Wikipedia
Equinix Inc., is an American multinational internet and data center company headquartered in Redwood City, California. It specialized in internet connectivity and data center colocation centers, commonly known as carrier hotels, until the company converted to a real estate investment trust (REIT) in January 2015. It is listed on the Nasdaq stock exchange under the ticker symbol EQIX. As of 2025, the company operates 260 data centers in 33 countries, across five continents and employed more than 13,000 people worldwide.
Read more
Equinix Inc., is an American multinational internet and data center company headquartered in Redwood City, California. It specialized in internet connectivity and data center colocation centers, commonly known as carrier hotels, until the company converted to a real estate investment trust (REIT) in January 2015. It is listed on the Nasdaq stock exchange under the ticker symbol EQIX. As of 2025, the company operates 260 data centers in 33 countries, across five continents and employed more than 13,000 people worldwide.
History
Equinix, Inc., was founded in 1998 by Al Avery and Jay Adelson, who were two facilities managers at Digital Equipment Corporation (DEC). The firm promoted its data center platform as a neutral place where competing networks could connect and share data traffic. The firm capitalized on the "network effect", through which each new customer would broaden the appeal of its platform. It expanded to the Asia-Pacific in October 2002 and Europe in 2007, followed by Latin America in 2011 and the Middle East in 2013.
In 2018, according to Sludge, Equinix signed three contracts with the U.S. Customs and Border Protection (CBP) to provide technology support equipment totaling over $5 million. In September 2020, the company shifted its branding, describing itself as a "digital infrastructure company".
Equinix data centers in London, UK, engaged with designer Maximilian Raynor, who created a dress from its repurposed data center equipment. The wearable art dress was constructed from 3,600 meters of network cables and was revealed at Raynor's London Fashion Week pre-show in February 2025.
Acquisitions and expansion
In 2002, Equinix merged with I-STT, the Internet infrastructure service subsidiary of Singapore Technologies Telemedia, and Pihana Pacific. This established the company's presence in China, Singapore, Australia, and Japan. In 2007, the firm entered the European market by acquiring data center operator IXEurope and its facilities. In 2010, Equinix opened its 50th data center in London. Over the next seven years, the company nearly tripled its data center portfolio. The company attributed this growth to increased demand, which was caused by the emergence of cloud computing, the Internet of Things, and big data.
In 2010, the company purchased Switch and Data Facilities Company, Inc., a U.S. Internet exchange and colocation services provider. In 2012, the company extended its operations to the Middle East, expanding to Dubai, and in Southeast Asia, specifically Indonesia. Also in 2012, it acquired Hong Kong-based data center provider Asia-Tone. In 2014, Equinix increased its Latin American presence when it acquired ALOG Datacenters of Brazil S.A., the country's leading provider of carrier-neutral data centers.
In 2015, Equinix converted to a real estate investment trust (REIT) to gain tax advantages and add shareholder value. That same year, it acquired the professional services company Nimbo.
In May 2015, Equinix said it would purchase the British company TelecityGroup, the largest acquisition in the company's history. The offer was cleared by the European Commission (EC) in November, after Equinix agreed to sell eight of its data centers around Europe to Digital Realty, while retaining its Telecity Harbour Exchange data center in London Docklands, an acquisition Equinix completed in a transaction valued at approximately $3.8 billion. The addition of these data centers more than doubled Equinix's capacity in Europe. In December 2015, the company purchased Japanese provider Bit-Isle, adding six data centers in Japan.
In 2016, Equinix announced a deal to acquire 29 data centers in 15 markets from Verizon.
In 2017, the firm opened a new data center in São Paulo, Brazil. That same year, Equinix acquired Itconic, which expanded its data center footprint into Spain and Portugal.
In 2018, Equinix purchased the Dallas Infomart building, where it had already been operating four data centers. It also acquired Australian data center provider Metronode and its 10 data centers. The company opened its first data center in South Korea the next year.
In 2020, Equinix finalized the purchase of Packet, a startup that provided bare-metal servers as a cloud service. The company expanded into India in August 2020, with the acquisition of GPX India, including a campus in Mumbai with two data centers. In October 2020, Equinix completed the acquisition of 13 Bell Canada data centers. The company also invested heavily in hyperscale xScale data centers.
On December 7, 2021, Equinix announced its acquisition of Main One, a West African data center and connectivity solutions provider, for $320 million.
In March 2022, Equinix expanded into Chile and Peru with a $758 million acquisition of four data centers from Entel. In November 2022, Equinix announced its market entry into Malaysia with plans to build a new International Business Exchange (IBX) data center located in Iskandar Puteri, Johor Bahru, Johore called JH1. With an initial investment of approximately $40 million, JH1 launched operations in Q1 2024, providing 500 cabinets and 1,960 square meters of colocation space.
In 2024, the company announced a $390 million expansion plan to build more data centers in Africa over the next five years. Later that year, it partnered with the Canada Pension Plan Investment Board and Singapore's GIC to develop new data centers, expecting to meet demand resulting from a boom in artificial intelligence (AI). The company also announced their expansion to Thailand that year, with two data centers in Bangkok expected to open in 2027.
In May 2026, it was announced that Equinix would be investing over $190 million to build a data center in Kuala Lumpur, its fourth facility in Malaysia. Later that month, Equinix opened a new data center, MD5, in Madrid, Spain, as part of a $535 million expansion.
Environmental impacts
In 2015, Equinix announced a long-term commitment to power its data centers with clean, renewable energy. The announcement followed criticism from the environmental group Greenpeace in 2014, which said in a report on internet companies’ environmental practices that Equinix was not doing enough to address renewable energy use or carbon emissions. In response, the company signed agreements with wind farms in Texas and Oklahoma to purchase renewable energy to offset electricity use at its North American data centers.
In September 2020, Equinix issued $1.35 billion in green bonds to help fund environmental projects. At the same time, the company introduced a Green Finance Framework to describe how it reports on and tracks projects funded through green debt.
In January 2021, Equinix joined the Climate Neutral Data Centre Pact, committing to make their data centers climate neutral by 2030.
In 2024, the company expanded a heat export program that redirects excess heat from its data centers to nearby buildings. That year, Equinix vice president Christopher Wellise said that rising energy use from AI was increasing strain on electrical grids. and that AI development needed to be considered with sustainability in mind.
Equinix’s environmental efforts have been recognized by external organizations. The U.S. Environmental Protection Agency (EPA) named the company a Green Power Partner in 2019 and 2020.
In May 2026, Equinix faced challenges from social movement the Housing Assembly (HA) and UK non-profit Foxglove regarding the company's plans to build two data centers in Cape Town, South Africa. A formal objection from city planners said the plans should not be approved without Equinix disclosing its water, power, and environmental impacts.
Data centers
Equinix invested more than $25 billion in its data center platform. Equinix rebranded its data centers to International Business Exchanges (IBXs). In 2017, the company launched its own data center infrastructure management platform, IBX SmartView. The company's Internet exchange service allows Internet service providers and enterprises to exchange Internet traffic through a global peering tool.
Data center (IBX) locations
Americas: the United States, Brazil, Canada, Colombia, Chile, Mexico, Peru
Asia-Pacific: Australia, China, Hong Kong, Indonesia, Japan, South Korea, Singapore, India, Malaysia
Europe and Middle East: Bulgaria, Finland, France, Germany, Ireland, Italy, Netherlands, Poland, Portugal, Spain, Sweden, Switzerland, Turkey, the United Arab Emirates, Oman, the United Kingdom
Africa: Nigeria, South Africa, Côte d'Ivoire, Ghana
Corporate affairs
Equinix has been described as a leader in the global data center industry. It operates over 260 data centers, in 33 countries, across five continents. Equinix is listed on the Nasdaq stock exchange under the ticker symbol EQIX. As of December 2023, it employed approximately 13,000 people worldwide.
In late 2024, the company laid off approximately 3% of its global workforce, affecting around 400 employees.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
EQIX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
EQIX Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount |
|---|---|
| Aug. 19, 2026 | $5.1600 |
| May 20, 2026 | $5.1600 |
| Feb. 25, 2026 | $5.1600 |
| Nov. 19, 2025 | $4.6900 |
| Aug. 20, 2025 | $4.6900 |
| May 21, 2025 | $4.6900 |
| Feb. 26, 2025 | $4.6900 |
| Nov. 13, 2024 | $4.2600 |
| Aug. 21, 2024 | $4.2600 |
| May 21, 2024 | $4.2600 |
| Feb. 27, 2024 | $4.2600 |
| Nov. 14, 2023 | $4.2600 |
| Aug. 22, 2023 | $3.4100 |
| May 23, 2023 | $3.4100 |
| March 6, 2023 | $3.4100 |
| Nov. 15, 2022 | $3.1000 |
| Aug. 16, 2022 | $3.1000 |
| May 17, 2022 | $3.1000 |
| March 4, 2022 | $3.1000 |
| Nov. 16, 2021 | $2.8700 |
EQIX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 12 30.0%
- Buy 21 52.5%
- Hold 7 17.5%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
29 analysts · 2026-08-21Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $4.82 | $4.82 | 0.00% |
| March 31, 2026 | $4.41 | $4.44 | -0.03% |
| Dec. 31, 2025 | $3.33 | $3.93 | -0.60% |
| Sept. 30, 2025 | $3.85 | $3.72 | 0.13% |
| June 30, 2025 | $3.76 | $3.55 | 0.21% |
| March 31, 2025 | $3.61 | $3.02 | 0.59% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| EQIX | $75.26B | 55.7 | 5.4% | 14.6% | 9.8% | — |
| DLR | $53.15B | 43.2 | 10.0% | 21.4% | 5.9% | — |
| FRMI | — | -7.1 | — | — | — | — |
| BXDC | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.22B | $8.75B | $8.19B | $7.26B | $6.64B | $6.00B | $5.56B | · | $4.37B | $3.61B | $2.73B | |
| Cost of Revenue | $4.51B | $4.47B | $4.23B | $3.75B | $3.47B | $3.07B | $2.81B | · | $2.19B | $1.82B | $1.29B | |
| SG&A Expense | $1.84B | $1.77B | $1.65B | $1.50B | $1.30B | $1.09B | $935M | · | $746M | $695M | $493M | |
| Operating Expenses | $7.37B | $7.42B | $6.75B | $6.06B | $5.53B | $4.95B | $4.39B | · | $3.56B | $2.99B | $2.16B | |
| Operating Income | $1.85B | $1.33B | $1.44B | $1.20B | $1.11B | $1.05B | $1.17B | · | $809M | $619M | $567M | |
| Interest Expense | · | · | $402M | $356M | $336M | $406M | $480M | · | $479M | $392M | $299M | |
| Interest Income | $193M | $137M | $94M | $36M | $3M | $9M | $28M | · | $13M | $3M | $4M | |
| Other Non-op | $-7M | $-17M | $-11M | $-51M | $-51M | $7M | $28M | · | $9M | $-58M | $-61M | |
| Pretax Income | $1.51B | $975M | $1.12B | $829M | $609M | $516M | $693M | · | $287M | $160M | $211M | |
| Income Tax | $160M | $161M | $155M | $124M | $109M | $146M | $185M | · | $54M | $45M | $23M | |
| Net Income | $1.35B | $815M | $969M | $705M | $500M | $370M | $507M | · | $233M | $127M | $188M | |
| EPS (Basic) | $13.79 | $8.54 | $10.35 | $7.69 | $5.57 | $4.22 | $6.03 | · | $3.03 | $1.81 | $3.25 | |
| EPS (Diluted) | $13.76 | $8.50 | $10.31 | $7.67 | $5.53 | $4.18 | $5.99 | · | $3.00 | $1.79 | $3.21 | |
| Shares (Basic) | 97,883,000 | 95,457,000 | 93,615,000 | 91,569,000 | 89,772,000 | 87,700,000 | 84,140,000 | · | 76,854,000 | 70,117,000 | 57,790,000 | |
| Shares (Diluted) | 98,123,000 | 95,827,000 | 94,009,000 | 91,828,000 | 90,409,000 | 88,410,000 | 84,679,000 | · | 77,535,000 | 70,816,000 | 58,483,000 | |
| EBITDA | $3.90B | $3.34B | $3.29B | · | $2.76B | $2.48B | $2.45B | · | $1.85B | $1.46B | $1.09B |
Balance Sheet 28
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.73B | $3.08B | $2.10B | $1.91B | $1.54B | $1.60B | $1.87B | · | $1.41B | $748M | $2.23B | |
| Short-term Investments | $1.50B | $527M | $0 | · | $0 | $5M | $10M | · | $28M | $3M | $13M | |
| Receivables | $1.00B | $949M | $1.00B | $855M | $682M | $677M | $689M | $630M | $576M | $396M | $292M | |
| Prepaid Expense | $134M | $91M | $100M | $79M | $65M | $61M | $56M | · | $65M | $79M | $48M | |
| Other Current Assets | $897M | $890M | $468M | $459M | $463M | $323M | $304M | $259M | $232M | $319M | $213M | |
| Current Assets | $5.12B | $5.45B | $3.57B | $3.31B | $2.96B | $2.61B | $2.87B | · | $2.25B | $1.47B | $3.26B | |
| PP&E (Net) | $23.58B | $19.25B | $18.60B | $16.65B | $15.45B | $14.50B | $12.15B | $10.73B | $9.39B | $7.20B | $5.61B | |
| PP&E (Gross) | $36.97B | $30.72B | $29.20B | $25.98B | $23.70B | $21.68B | $18.09B | · | $13.74B | $10.65B | $8.40B | |
| Accum. Depreciation | · | · | · | · | · | $7.18B | $5.93B | · | $4.34B | $3.45B | $2.79B | |
| Goodwill | $5.98B | $5.50B | $5.74B | $5.65B | $5.37B | $5.47B | $4.78B | · | $4.41B | $2.99B | $1.06B | |
| Intangibles | $1.32B | $1.42B | $1.71B | $1.90B | $1.94B | $2.17B | $2.10B | $2.31B | $2.38B | $719M | $225M | |
| Other Non-current Assets | $2.74B | $2.05B | $1.59B | $1.38B | $926M | $776M | $581M | $470M | $242M | $226M | $199M | |
| Total Assets | $40.14B | $35.09B | $32.65B | $30.31B | $27.92B | $27.01B | $23.97B | · | $18.69B | $12.61B | $10.36B | |
| Accounts Payable | $1.35B | $133M | $162M | $116M | $84M | $78M | $52M | · | $102M | $60M | $50M | |
| Current Liabilities | $3.89B | $3.35B | $3.16B | $1.84B | $1.61B | $2.02B | $2.16B | · | $1.24B | $1.03B | $1.66B | |
| Capital Leases | $1.30B | $1.33B | $1.33B | $1.27B | $1.11B | $1.31B | $1.32B | $0 | $1.62B | $1.41B | $1.29B | |
| Deferred Tax | $367M | $339M | $394M | $383M | $340M | $290M | $247M | · | $252M | $274M | $101M | |
| Other Non-current Liabilities | $983M | $760M | $796M | $798M | $763M | $949M | $622M | $541M | $662M | $623M | $390M | |
| Total Liabilities | $25.96B | $21.53B | $20.14B | $18.80B | $17.04B | $16.37B | $15.13B | · | $11.84B | $8.24B | $7.61B | |
| Long-term Debt | · | $15.33B | $13.84B | $12.88B | $11.72B | $10.63B | $10.40B | · | $8.47B | $5.31B | $5.25B | |
| Total Debt | $1.30B | $1.20B | · | · | · | · | · | · | · | · | · | |
| Common Stock | $0 | $0 | $0 | $93.0K | $91.0K | $89.0K | $86.0K | · | $79.0K | $72.0K | $62.0K | |
| Retained Earnings | $6.10B | $4.75B | $3.93B | $2.96B | $2.26B | $1.76B | $1.39B | $884M | $253M | $19M | $-108M | |
| Treasury Stock | $24M | $39M | $56M | $72M | $112M | $122M | $144M | · | $146M | $148M | $7M | |
| AOCI | $-1.36B | $-1.74B | $-1.29B | $-1.39B | $-1.09B | $-913M | $-935M | · | $-785M | $-949M | $-509M | |
| Stockholders' Equity | $14.16B | $13.53B | $12.49B | $11.51B | $10.88B | $10.63B | $8.84B | · | $6.85B | $4.37B | $2.75B | |
| Liabilities + Equity | $40.14B | $35.09B | $32.65B | $30.31B | $27.92B | $27.01B | $23.97B | · | $18.69B | $12.61B | $10.36B | |
| Shares Outstanding | 98,226,000 | 97,390,000 | 94,630,000 | 92,814,000 | 90,873,000 | 89,462,304 | 85,700,953 | · | 79,440,404 | 71,817,430 | 62,134,894 |
Cash Flow 20
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $2.05B | $2.01B | $1.84B | $1.74B | $1.66B | $1.42B | $1.28B | · | $1.04B | $837M | $526M | |
| Stock-based Comp | $498M | $462M | $407M | $404M | $364M | $295M | $237M | · | $176M | $156M | $132M | |
| Deferred Tax | $-56M | $-30M | $5M | $42M | $40M | $-19M | $27M | · | $-47M | $-35M | $-93M | |
| Amort. of Intangibles | $200M | $208M | $208M | $205M | $205M | $199M | $196M | · | $177M | $123M | $27M | |
| Restructuring | $33M | $31M | $0 | $0 | · | · | · | · | · | · | $0 | |
| Other Non-cash | $69M | $-7M | $-10M | · | $-13M | $241M | $-64M | · | $35M | $-68M | $142M | |
| Operating Cash Flow | $3.91B | $3.25B | $3.22B | $2.96B | $2.55B | $2.31B | $1.99B | · | $1.44B | $1.02B | $895M | |
| CapEx | $4.31B | $3.07B | $2.78B | $2.28B | $2.75B | $2.28B | $2.08B | · | $1.38B | $1.11B | $868M | |
| Investing Cash Flow | $-6.48B | $-3.94B | $-3.22B | $-3.36B | $-3.01B | $-3.43B | $-1.94B | · | $-5.40B | $-2.05B | $-638M | |
| Debt Issued | · | · | · | · | · | · | · | · | $2.06B | $1.17B | $1.20B | |
| Net Debt Issued | · | · | · | · | · | · | $-73M | · | $-221M | $-295M | $-715M | |
| Stock Issued | $99M | $1.67B | $734M | $796M | $498M | $1.98B | $1.66B | · | $2.48B | $0 | $829M | |
| Stock Repurchased | · | · | · | · | · | · | · | · | · | $0 | $0 | |
| Net Stock Activity | $99M | $1.67B | $734M | · | $498M | $1.98B | $1.66B | · | $2.48B | $0 | $829M | |
| Dividends Paid | $1.86B | $1.64B | $1.38B | $1.15B | $1.04B | $948M | $836M | · | $621M | $499M | $521M | |
| Financing Cash Flow | $1.27B | $1.72B | $211M | $857M | $414M | $816M | $1.20B | · | $4.61B | $-897M | $1.87B | |
| Net Change in Cash | $-1.26B | $986M | $188M | $359M | $-76M | $-261M | $1.26B | · | $677M | $-1.95B | $2.09B | |
| Taxes Paid | $207M | · | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $-400M | $183M | $436M | · | $-204M | · | · | · | $61M | $-97M | $27M | |
| Levered FCF | · | · | $89M | · | $-480M | · | · | · | $-328M | $-377M | $-239M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 20.1% | 15.2% | 17.6% | · | 16.7% | 17.5% | 21.0% | · | 18.5% | 17.1% | 20.8% | |
| Net Margin | 14.6% | 9.3% | 11.8% | · | 7.5% | 6.2% | 9.1% | · | 5.3% | 3.5% | 6.9% | |
| Pretax Margin | 16.4% | 11.2% | 13.7% | · | 9.2% | 8.6% | 12.4% | · | 6.6% | 4.4% | 7.7% | |
| EBITDA Margin | 42.3% | 38.1% | 40.2% | · | 41.7% | 41.3% | 44.1% | · | 42.4% | 40.3% | 40.1% | |
| ROA | 3.6% | 2.4% | 3.1% | · | 1.8% | 1.5% | 2.3% | · | 1.5% | 1.1% | 2.1% | |
| ROE | 9.8% | 6.3% | 7.9% | · | 4.7% | 3.8% | 6.3% | · | 4.2% | 3.6% | 7.5% | |
| ROIC | 10.7% | 7.5% | 10.0% | · | 8.4% | 7.1% | 9.7% | · | 9.6% | 10.1% | 18.4% |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.3 | 1.6 | 1.1 | · | 1.8 | 1.3 | 1.3 | · | 1.8 | 1.4 | 2.0 | |
| Quick Ratio | 1.1 | 1.4 | 1.0 | · | 1.4 | 1.1 | 1.2 | · | 1.6 | 1.1 | 1.5 | |
| Debt / Equity | 0.1 | 0.1 | · | · | · | · | · | · | · | · | · | |
| Interest Coverage | · | · | 3.6 | · | 3.3 | 2.6 | 2.4 | · | 1.7 | 1.6 | 1.9 |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.3 | 0.3 | · | 0.2 | 0.2 | 0.3 | · | 0.3 | 0.3 | 0.3 | |
| Receivables Turnover | 9.5 | 9.0 | 8.8 | · | 9.8 | 8.8 | 8.4 | · | 9.0 | 10.5 | 9.8 |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 5.4% | 6.8% | 12.7% | 9.5% | 10.6% | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 8.3% | 9.7% | 10.9% | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 9.0% | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 61.9% | -17.6% | 34.4% | 38.7% | 32.3% | · | · | · | · | · | · | |
| EPS CAGR 3Y | 21.5% | 15.4% | 35.1% | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 26.9% | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 65.6% | -15.9% | 37.5% | 40.9% | 35.3% | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 24.2% | 17.7% | 37.9% | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 29.6% | · | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 14.4% | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $9.22B | $8.75B | $8.19B | $7.26B | $6.64B | $6.00B | $5.56B | · | $4.37B | $3.61B | $2.73B | |
| Net Income TTM | $1.35B | $815M | $969M | $705M | $500M | $370M | $507M | · | $233M | $127M | $188M | |
| Market Cap | $75.26B | $91.73B | $76.09B | · | $76.61B | $63.66B | $49.79B | · | $35.82B | $25.52B | $18.78B | |
| Enterprise Value | $73.33B | $89.32B | · | · | · | · | · | · | · | · | · | |
| P/E | 55.7 | 110.9 | 78.1 | 85.4 | 153.0 | 170.9 | 97.4 | · | 151.1 | 199.7 | 94.2 | |
| P/S | 8.2 | 10.5 | 9.3 | · | 11.5 | 10.6 | 9.0 | · | 8.2 | 7.1 | 6.9 | |
| P/B | 5.3 | 6.8 | 6.1 | · | 7.0 | 6.0 | 5.6 | · | 5.2 | 5.8 | 6.8 | |
| P / Tangible Book | 11.0 | 13.9 | 15.1 | 15.3 | 21.4 | 21.3 | · | · | · | · | · | |
| P / Cash Flow | 19.2 | 28.2 | 23.7 | · | 30.1 | 27.6 | 25.0 | · | 24.9 | 25.1 | 21.0 | |
| P / FCF | -188.1 | 501.3 | 174.7 | · | -375.0 | · | · | · | 592.0 | -263.7 | 704.0 | |
| EV / EBITDA | 18.8 | 26.8 | · | · | · | · | · | · | · | · | · | |
| EV / FCF | -183.3 | 488.1 | · | · | · | · | · | · | · | · | · | |
| EV / Revenue | 8.0 | 10.2 | · | · | · | · | · | · | · | · | · | |
| Dividend Yield | 2.5% | 1.8% | 1.8% | · | 1.4% | 1.5% | 1.7% | · | 1.7% | 2.0% | 2.8% | |
| Earnings Yield | 1.8% | 0.90% | 1.3% | 1.2% | 0.65% | 0.59% | 1.0% | · | 0.66% | 0.50% | 1.1% | |
| Payout Ratio | 137.5% | 201.6% | 141.8% | · | 208.5% | 256.3% | 164.8% | · | 266.8% | 393.9% | · | |
| Annual Payout | $1.86B | $1.64B | $1.38B | $1.15B | $1.04B | $948M | $836M | · | $621M | $499M | $521M |
Income Statement 16
| 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 | $2.62B | $2.44B | $2.42B | $2.32B | $2.26B | $2.23B | $2.26B | $2.20B | $2.16B | $2.13B | $1.88B | $2.06B | $2.02B | $2.23B | $1.87B | $1.84B | |
| Cost of Revenue | $1.23B | $1.19B | $1.20B | $1.14B | $1.08B | $1.08B | $1.20B | $1.10B | $1.08B | $1.09B | $1.09B | $1.07B | $1.06B | $1.01B | $970M | $935M | |
| SG&A Expense | $462M | $444M | $481M | $470M | $451M | $438M | $451M | $434M | $437M | $444M | $449M | $404M | $406M | $395M | $400M | $375M | |
| Operating Expenses | $1.96B | $1.87B | $2.00B | $1.84B | $1.76B | $1.77B | $2.16B | $1.78B | $1.72B | $1.76B | $1.76B | $1.68B | $1.69B | $1.61B | $1.59B | $1.51B | |
| Operating Income | $665M | $577M | $422M | $474M | $494M | $458M | $103M | $425M | $436M | $364M | $346M | $381M | $332M | $384M | $282M | $333M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $104M | · | $101M | $100M | $97M | · | $91M | |
| Interest Income | $36M | $41M | $41M | $53M | $52M | $47M | $49M | $35M | $29M | $24M | $0 | $23M | $24M | $47M | $18M | $11M | |
| Other Non-op | $-28M | $1M | $-9M | $0 | $-7M | $9M | $-11M | $7M | $-7M | $-6M | $-2M | $-6M | $-12M | $9M | $-28M | $-7M | |
| Pretax Income | $523M | $471M | $312M | $399M | $405M | $392M | $0 | $350M | $348M | $277M | $192M | $296M | $244M | $392M | $177M | $246M | |
| Income Tax | $46M | $56M | $48M | $25M | $38M | $49M | $14M | $54M | $47M | $46M | $43M | $20M | $37M | $55M | $48M | $35M | |
| Net Income | $479M | $415M | $265M | $374M | $368M | $343M | $-14M | $297M | $301M | $231M | $227M | $276M | $207M | $259M | $129M | $212M | |
| EPS (Basic) | $4.86 | $4.22 | $2.69 | $3.82 | $3.76 | $3.52 | $-0.18 | $3.11 | $3.17 | $2.44 | $2.42 | $2.94 | $2.21 | $2.78 | $1.39 | $2.30 | |
| EPS (Diluted) | $4.83 | $4.20 | $2.70 | $3.81 | $3.75 | $3.50 | $-0.19 | $3.10 | $3.16 | $2.43 | $2.40 | $2.93 | $2.21 | $2.77 | $1.38 | $2.30 | |
| Shares (Basic) | 98,641,000 | 98,392,000 | -195,448,000 | 97,982,000 | 97,835,000 | 97,514,000 | -189,521,000 | 95,394,000 | 94,919,000 | 94,665,000 | -186,574,000 | 93,683,000 | 93,535,000 | 92,971,000 | -182,134,000 | 91,896,000 | |
| Shares (Diluted) | 99,136,000 | 98,727,000 | -195,988,000 | 98,174,000 | 98,050,000 | 97,887,000 | -190,226,000 | 95,731,000 | 95,166,000 | 95,156,000 | -187,356,000 | 94,168,000 | 93,857,000 | 93,340,000 | -182,731,000 | 92,135,000 | |
| EBITDA | $1.22B | $1.12B | · | $1.00B | $993M | $937M | · | $921M | $925M | $890M | · | $843M | $794M | $841M | · | $763M |
Balance Sheet 26
| 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 | $979M | $1.36B | $1.73B | $2.08B | $3.66B | $2.95B | $3.08B | $2.78B | $1.99B | $1.53B | $2.10B | $2.36B | $2.34B | $2.64B | $1.91B | $2.50B | |
| Short-term Investments | $1.25B | $1.69B | $1.50B | $854M | $872M | $723M | $527M | $451M | · | · | · | · | · | · | · | · | |
| Receivables | $1.26B | $1.11B | $1.00B | $1.14B | $1.14B | $1.09B | $949M | $1.12B | $1.12B | $1.08B | $1.00B | $1.03B | $1.01B | $913M | $855M | $779M | |
| Prepaid Expense | · | · | $134M | · | · | · | $91M | · | · | · | · | · | · | · | · | · | |
| Other Current Assets | $842M | $1.18B | $897M | $891M | $881M | $743M | $890M | $705M | $612M | $561M | · | $497M | $396M | $437M | · | $657M | |
| Current Assets | $4.32B | $5.35B | $5.12B | $4.97B | $6.55B | $5.50B | $5.45B | $5.05B | $3.73B | $3.17B | · | $3.89B | $3.74B | $3.99B | · | $4.02B | |
| PP&E (Net) | $25.22B | $24.17B | $23.58B | $21.90B | $21.21B | $20.02B | $19.25B | $19.66B | $18.61B | $18.51B | · | $17.37B | $17.27B | $16.91B | · | $15.14B | |
| PP&E (Gross) | · | · | $36.97B | · | · | · | $30.72B | · | · | · | · | · | · | · | · | · | |
| Goodwill | $5.91B | $5.93B | $5.98B | $5.95B | $5.98B | $5.63B | $5.50B | $5.77B | $5.62B | $5.62B | $5.74B | $5.59B | $5.73B | $5.71B | $5.65B | $5.39B | |
| Intangibles | $1.20B | $1.26B | $1.32B | $1.33B | $1.39B | $1.39B | $1.42B | $1.54B | $1.57B | $1.62B | $1.71B | $1.73B | $1.81B | $1.86B | $1.90B | $1.89B | |
| Other Non-current Assets | $3.12B | $2.85B | $2.74B | $2.48B | $2.24B | $2.06B | $2.05B | $1.92B | $1.94B | $1.62B | · | $1.59B | $1.49B | $1.39B | · | $1.50B | |
| Total Assets | $41.08B | $40.90B | $40.14B | $38.06B | $38.85B | $36.08B | $35.09B | $35.44B | $32.85B | $31.94B | · | $31.68B | $31.57B | $31.27B | · | $29.33B | |
| Accounts Payable | $1.26B | $1.32B | $127M | $1.27B | $1.21B | $1.10B | $133M | $1.12B | $1.14B | $1.08B | · | $1.06B | $1.02B | $933M | · | $923M | |
| Current Liabilities | $3.82B | $4.54B | $3.89B | $3.07B | $4.24B | $3.33B | $3.35B | $4.37B | $3.07B | $2.89B | · | $1.89B | $1.85B | $1.75B | · | $1.70B | |
| Capital Leases | $1.21B | $1.26B | $1.30B | $1.33B | $1.38B | $1.38B | $1.33B | $1.37B | $1.26B | $1.28B | · | $1.40B | $1.40B | $1.24B | · | $1.23B | |
| Deferred Tax | · | · | $367M | · | · | · | $339M | · | · | · | · | · | · | · | · | · | |
| Other Non-current Liabilities | $1.01B | $930M | $983M | $861M | $932M | $744M | $760M | $822M | $787M | $752M | · | $775M | $786M | $785M | · | $739M | |
| Total Liabilities | $26.68B | $26.58B | $25.96B | $23.88B | $24.74B | $22.17B | $21.53B | $21.83B | $20.55B | $19.61B | · | $19.77B | $19.52B | $19.25B | · | $18.17B | |
| Long-term Debt | $19.87B | $19.79B | · | $17.33B | $18.07B | $15.89B | · | $15.39B | $14.45B | $13.74B | · | $13.70B | $13.46B | $13.49B | · | $12.74B | |
| Common Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | · | $94.0K | $94.0K | $94.0K | · | $93.0K | |
| Retained Earnings | $7.00B | $6.51B | $6.10B | $5.83B | $5.46B | $5.09B | $4.75B | $4.76B | $4.47B | $4.17B | · | $3.71B | $3.43B | $3.22B | · | $2.84B | |
| Treasury Stock | $23M | $24M | $24M | $24M | $30M | $32M | $39M | $40M | $48M | $50M | · | $57M | $64M | $66M | · | $93M | |
| AOCI | $-1.37B | $-1.34B | $-1.36B | $-1.42B | $-1.40B | $-1.56B | $-1.74B | $-1.28B | $-1.54B | $-1.50B | · | $-1.53B | $-1.29B | $-1.29B | · | $-1.76B | |
| Stockholders' Equity | $14.38B | $14.30B | $14.16B | $14.16B | $14.08B | $13.89B | $13.53B | $13.59B | $12.28B | $12.30B | · | $11.89B | $12.02B | $12.03B | · | $11.15B | |
| Liabilities + Equity | $41.08B | $40.90B | $40.14B | $38.06B | $38.85B | $36.08B | $35.09B | $35.44B | $32.85B | $31.94B | · | $31.68B | $31.57B | $31.27B | · | $29.33B | |
| Shares Outstanding | 98,671,000 | 98,623,000 | 98,226,000 | 98,187,000 | 97,865,000 | 97,819,000 | 97,287,000 | 96,488,000 | 94,945,000 | 94,904,000 | 94,630,000 | 93,883,296 | 93,564,869 | 93,514,718 | 92,814,000 | 92,536,979 |
Cash Flow 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $551M | $541M | $542M | $530M | $499M | $479M | $498M | $496M | $489M | $526M | $463M | $463M | $462M | $457M | $438M | $430M | |
| Stock-based Comp | $145M | $128M | $128M | $130M | $127M | $113M | $114M | $122M | $125M | $101M | $106M | $98M | $104M | $99M | $108M | $102M | |
| Amort. of Intangibles | · | · | · | · | $50M | $48M | $53M | $52M | $51M | $52M | $52M | $51M | $52M | $52M | $52M | $52M | |
| Restructuring | $6M | $6M | $16M | $5M | $2M | $10M | $31M | $0 | $0 | $0 | · | · | · | · | · | · | |
| Other Non-cash | · | $-367M | · | · | · | $-126M | · | · | · | $-260M | · | · | · | $-123M | · | · | |
| Operating Cash Flow | $1.07B | $717M | $1.14B | $1.01B | $944M | $809M | $981M | $758M | $912M | $598M | $999M | $785M | $742M | $692M | $760M | $820M | |
| CapEx | · | $1.26B | $1.44B | $1.14B | $989M | $750M | $987M | $724M | $648M | $707M | $996M | $617M | $638M | $530M | $828M | $553M | |
| Investing Cash Flow | $-1.12B | $-1.46B | $-2.71B | $-1.37B | $-1.44B | $-964M | $-1.11B | $-1.36B | $-734M | $-727M | $-1.28B | $-752M | $-669M | $-522M | $-1.07B | $-664M | |
| Stock Issued | $0 | $0 | $0 | $0 | $0 | $99M | $697M | $976M | $0 | $0 | $433M | $225.0K | $225.0K | $301M | $-18.0K | $796M | |
| Net Stock Activity | · | $0 | · | · | · | $99M | · | · | · | $0 | · | · | · | $301M | · | · | |
| Dividends Paid | $510M | $519M | $461M | $467M | $460M | $468M | $413M | $413M | $405M | $412M | $403M | $326M | $321M | $326M | $288M | $291M | |
| Financing Cash Flow | $-355M | $349M | $1.23B | $-1.16B | $1.19B | $15M | $478M | $1.35B | $294M | $-397M | $-22M | $18M | $-327M | $542M | $-325M | $489M | |
| Net Change in Cash | $-409M | $-399M | $-341M | $-1.52B | $728M | $-120M | $306M | $780M | $466M | $-566M | $-262M | $16M | $-301M | $736M | $-599M | $607M | |
| Free Cash Flow | · | $-539M | · | · | · | $59M | · | · | · | $-109M | · | · | · | $162M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-196M | · | · | · | $81M | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 25.3% | 23.6% | · | 20.5% | 21.9% | 20.6% | · | 19.3% | 20.2% | 17.1% | · | 18.4% | 16.5% | 19.2% | · | 18.1% | |
| Net Margin | 18.2% | 17.0% | · | 16.2% | 16.3% | 15.4% | · | 13.5% | 13.9% | 10.9% | · | 13.4% | 10.3% | 13.0% | · | 11.5% | |
| Pretax Margin | 19.9% | 19.3% | · | 17.2% | 17.9% | 17.6% | · | 15.9% | 16.1% | 13.0% | · | 14.3% | 12.1% | 15.7% | · | 13.4% | |
| EBITDA Margin | 46.3% | 45.7% | · | 43.4% | 44.0% | 42.1% | · | 41.8% | 42.8% | 41.8% | · | 40.9% | 39.3% | 42.1% | · | 41.5% | |
| ROA | 1.2% | 1.1% | · | 1.0% | 1.0% | 1.0% | · | 0.88% | 0.93% | 0.73% | · | 0.90% | 0.68% | 0.87% | · | 0.74% | |
| ROE | 3.4% | 2.9% | · | 2.7% | 2.8% | 2.6% | · | 2.3% | 2.5% | 1.9% | · | 2.4% | 1.8% | 2.2% | · | 1.9% | |
| ROIC | 4.2% | 3.6% | · | 3.1% | 3.2% | 2.9% | · | 2.6% | 3.1% | 2.5% | · | 3.0% | 2.3% | 2.6% | · | 2.6% |
Liquidity & Solvency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.1 | 1.2 | · | 1.6 | 1.5 | 1.7 | · | 1.2 | 1.2 | 1.1 | · | 2.1 | 2.0 | 2.3 | · | 2.4 | |
| Quick Ratio | 0.9 | 0.9 | · | 1.3 | 1.3 | 1.4 | · | 1.0 | 1.0 | 0.9 | · | 1.8 | 1.8 | 2.0 | · | 1.9 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | 3.5 | · | 3.8 | 3.3 | 3.9 | · | 3.6 |
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 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Receivables Turnover | 2.2 | 2.2 | · | 2.0 | 2.0 | 2.1 | · | 2.0 | 2.0 | 2.1 | · | 2.3 | 2.2 | 2.4 | · | 2.3 |
Valuation (TTM) 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $9.64B | $9.24B | · | $9.00B | $8.84B | $8.71B | · | $8.55B | $8.37B | $8.43B | · | $8.15B | $7.90B | $7.62B | · | $7.07B | |
| Net Income TTM | $1.64B | $1.50B | · | $1.38B | $1.31B | $1.17B | · | $1.10B | $1.01B | $973M | · | $954M | $894M | $835M | · | $728M | |
| Market Cap | $102.85B | $96.67B | · | $76.90B | $77.85B | $79.76B | · | $85.65B | $71.84B | $78.33B | · | $68.18B | $73.35B | $67.43B | · | $52.64B | |
| P/E | 62.8 | 64.2 | · | 55.3 | 58.9 | 66.9 | · | 76.4 | 70.5 | 79.8 | · | 71.1 | 81.2 | 79.6 | · | 71.4 | |
| P/S | 10.7 | 10.5 | · | 8.5 | 8.8 | 9.2 | · | 10.0 | 8.6 | 9.3 | · | 8.4 | 9.3 | 8.9 | · | 7.4 | |
| P/B | 7.2 | 6.8 | · | 5.4 | 5.5 | 5.7 | · | 6.3 | 5.9 | 6.4 | · | 5.7 | 6.1 | 5.6 | · | 4.7 | |
| P / Tangible Book | 14.2 | 13.6 | · | 11.2 | 11.6 | 11.6 | · | 13.6 | 14.1 | 15.5 | · | 14.9 | 16.4 | 15.1 | · | 13.6 | |
| P / Cash Flow | · | 134.8 | · | · | · | 98.6 | · | · | · | 131.0 | · | · | · | 97.5 | · | · | |
| P / FCF | · | -179.4 | · | · | · | 1351.8 | · | · | · | -718.6 | · | · | · | 416.7 | · | · | |
| Earnings Yield | 1.6% | 1.6% | · | 1.8% | 1.7% | 1.5% | · | 1.3% | 1.4% | 1.2% | · | 1.4% | 1.2% | 1.3% | · | 1.4% | |
| Payout Ratio | · | 125.1% | · | · | · | 136.4% | · | · | · | 178.4% | · | · | · | 126.0% | · | · |
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 | $9.22B | $8.75B | $8.19B | $7.26B | $6.64B |
| Operating Margin % | 20.1% | 15.2% | 17.6% | — | 16.7% |
| Net Income | $1.35B | $815M | $969M | $705M | $500M |
| Diluted EPS | $13.76 | $8.50 | $10.31 | $7.67 | $5.53 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.1 | 0.1 | — | — | — |
| Current Ratio | 1.3 | 1.6 | 1.1 | — | 1.8 |
| Quick Ratio | 1.1 | 1.4 | 1.0 | — | 1.4 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-400M | $183M | $436M | — | $-204M |
Latest News Recent headlines mentioning this company
- IYR, PLD, EQIX, SPG: ETF Outflow Alert
- Invesco Now #445 Largest Company, Surpassing GoDaddy
- Jim Cramer on Equinix: “It’s a Great Way to Play the Data Center”
- Analysts Raise Their Price Targets on Equinix (EQIX) Due to Advantageous Positioning in AI Data Center Demand
- Equinix Inc. (EQIX): AI Data Center Darling for Elite Investors
- ClearBridge Large Cap Growth Strategy Sold Equinix (EQIX) as Capital Investment Delays AI Gains
- Undervalued and Profitable: 3 AI Stocks That Still Fly Under the Radar
- The Ultimate Dividend Growth Stock to Buy With $1,000 Right Now
Trading Signals Recent buy/sell signals with entry price and risk/reward ratio
My Metrics Your personal watchlist — selected rows from Full Fundamentals
Pick the metrics that matter to you — click the ➕ next to any row in Full Fundamentals above.
Your selection is saved and follows you across all tickers.
Institutional owners (13F) 1,472 filers · $58.8B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 151 (-84 vs prior Q) | 74 (-5 vs prior Q) | 542 (+64 vs prior Q) | 428 (+2 vs prior Q) | +3.1M |
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 CAPITAL MANAGEMENT LLC | $6,717,601,049 | 6,444,422 | 11.43% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $6,360,807,629 | 6,102,138 | 10.82% | Shares |
| STATE STREET CORP | $6,281,550,549 | 6,026,104 | 10.69% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $2,300,209,708 | 2,217,149 | 3.91% | Shares |
| FMR LLC | $1,669,668,933 | 1,601,770 | 2.84% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $1,296,536,148 | 1,243,811 | 2.21% | Shares |
| NORGES BANK | $1,254,071,264 | 1,203,073 | 2.13% | Shares |
| APG Asset Management US Inc. | $1,210,632,251 | 1,194,365 | 2.06% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $1,178,991,872 | 1,131,046 | 2.01% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $1,163,661,653 | 1,116,340 | 1.98% | Shares |
| AMERIPRISE FINANCIAL INC | $1,058,160,696 | 1,015,135 | 1.80% | Shares |
| CENTERSQUARE INVESTMENT MANAGEMENT LLC | $907,014,811 | 870,130 | 1.54% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $752,087,512 | 721,503 | 1.28% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $652,394,375 | 625,864 | 1.11% | Shares |
| Resolution Capital Ltd | $607,574,732 | 582,867 | 1.03% | Shares |
| TWO SIGMA INVESTMENTS, LP | $601,293,290 | 576,841 | 1.02% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $577,220,335 | 553,747 | 0.98% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $546,605,341 | 524,377 | 0.93% | Shares |
| NOMURA HOLDINGS INC | $526,406,950 | 505,000 | 0.90% | Put option |
| Capital Research Global Investors | $425,975,886 | 408,653 | 0.72% | Shares |
| CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC | $424,833,341 | 407,557 | 0.72% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $387,993,194 | 372,215 | 0.66% | Shares |
| Daiwa Securities Group Inc. | $344,317,053 | 330,315 | 0.59% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $341,737,138 | 327,840 | 0.58% | Shares |
| BARCLAYS PLC | $338,694,402 | 324,921 | 0.58% | Shares |
| RAYMOND JAMES FINANCIAL INC | $332,751,251 | 319,220 | 0.57% | Shares |
| National Pension Service | $331,288,220 | 317,816 | 0.56% | Shares |
| Point72 Asset Management, L.P. | $328,739,577 | 315,371 | 0.56% | Shares |
| LASALLE INVESTMENT MANAGEMENT SECURITIES LLC | $328,351,808 | 314,999 | 0.56% | Shares |
| NORDEA INVESTMENT MANAGEMENT AB | $315,369,600 | 300,352 | 0.54% | Shares |
| BlackRock, Inc. | $314,938,333 | 302,131 | 0.54% | Shares |
| Sustainable Growth Advisers, LP | $301,973,086 | 289,693 | 0.51% | Shares |
| GOLDMAN SACHS GROUP INC | $294,103,042 | 282,143 | 0.50% | Shares |
| Swiss National Bank | $289,912,634 | 278,123 | 0.49% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $286,638,487 | 274,982 | 0.49% | Shares |
| Squarepoint Ops LLC | $267,041,555 | 256,182 | 0.45% | Shares |
| Southpoint Capital Advisors LP | $260,597,500 | 250,000 | 0.44% | Shares |
| ALLIANCEBERNSTEIN L.P. | $250,957,124 | 256,016 | 0.43% | Shares |
| Qube Research & Technologies Ltd | $249,588,819 | 239,439 | 0.42% | Shares |
| Harbor Advisors LLC | $249,381,384 | 239,240 | 0.42% | Shares |
| Pictet Asset Management Holding SA | $248,550,599 | 238,443 | 0.42% | Shares |
| M&G PLC | $235,487,832 | 225,996 | 0.40% | Shares |
| D. E. Shaw & Co., Inc. | $229,515,515 | 220,182 | 0.39% | Shares |
| NEUBERGER BERMAN GROUP LLC | $221,715,574 | 212,699 | 0.38% | Shares |
| Vanguard Global Advisers, LLC | $221,688,209 | 212,673 | 0.38% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $217,464,521 | 208,983 | 0.37% | Shares |
| Legal & General Group Plc | $216,464,793 | 207,662 | 0.37% | Shares |
| Rathbones Group PLC | $211,313,300 | 202,720 | 0.36% | Shares |
| Alyeska Investment Group, L.P. | $210,877,582 | 202,302 | 0.36% | Shares |
| BANK OF AMERICA CORP /DE/ | $204,742,074 | 196,416 | 0.35% | Shares |
| BAMCO INC /NY/ | $203,930,052 | 195,637 | 0.35% | Shares |
| COATUE MANAGEMENT LLC | $200,426,580 | 192,276 | 0.34% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $200,005,454 | 191,872 | 0.34% | Shares |
| AMERICAN CENTURY COMPANIES INC | $192,220,885 | 184,404 | 0.33% | Shares |
| RHUMBLINE ADVISERS | $188,941,401 | 181,258 | 0.32% | Shares |
| Asset Management One Co., Ltd. | $183,495,047 | 187,194 | 0.31% | Shares |
| REAVES W H & CO INC | $180,963,074 | 173,604 | 0.31% | Shares |
| California Public Employees Retirement System | $176,886,286 | 169,693 | 0.30% | Shares |
| Railway Pension Investments Ltd | $170,940,494 | 163,989 | 0.29% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $164,784,000 | 158,083 | 0.28% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $156,537,791 | 150,172 | 0.27% | Shares |
| Elliott Investment Management L.P. | $156,358,500 | 150,000 | 0.27% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $155,627,551 | 149,299 | 0.26% | Shares |
| CI INVESTMENTS INC. | $152,738,280 | 146,527 | 0.26% | Shares |
| CITADEL ADVISORS LLC | $151,765,730 | 145,594 | 0.26% | Shares |
| Nuveen Asset Management, LLC | $150,894,458 | 160,034 | 0.26% | Shares |
| Retirement Systems of Alabama | $150,164,619 | 144,058 | 0.26% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $145,901,244 | 139,968 | 0.25% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $136,289,629 | 139,037 | 0.23% | Shares |
| Holocene Advisors, LP | $132,602,432 | 127,210 | 0.23% | Shares |
| Adelante Capital Management LLC | $129,153,523 | 123,901 | 0.22% | Shares |
| Vanguard Investments Australia, Ltd. | $120,557,615 | 115,655 | 0.21% | Shares |
| TWO SIGMA ADVISERS, LP | $119,245,142 | 155,640 | 0.20% | Shares |
| Nuveen, LLC | $118,293,544 | 113,483 | 0.20% | Shares |
| Robeco Institutional Asset Management B.V. | $117,759,841 | 112,971 | 0.20% | Shares |
| Douglas Lane & Associates, LLC | $113,672,124 | 109,050 | 0.19% | Shares |
| Nishkama Capital, LLC | $113,412,032 | 108,800 | 0.19% | Shares |
| STRS OHIO | $113,205,639 | 108,602 | 0.19% | Shares |
| Swedbank AB | $113,175,410 | 108,573 | 0.19% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $110,249,421 | 105,766 | 0.19% | Shares |
| Theleme Partners LLP | $110,079,511 | 105,603 | 0.19% | Shares |
| ABN AMRO Bank N.V. | $109,618,891 | 105,166 | 0.19% | Shares |
| Allianz Asset Management GmbH | $109,203,904 | 104,763 | 0.19% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $107,708,074 | 103,328 | 0.18% | Shares |
| JPMORGAN CHASE & CO | $104,464,975 | 96,266 | 0.18% | Shares |
| Castle Hook Partners LP | $103,637,541 | 99,423 | 0.18% | Shares |
| Quilter Plc | $103,082,989 | 98,891 | 0.18% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $102,401,266 | 98,237 | 0.17% | Shares |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS | $101,346,367 | 97,225 | 0.17% | Shares |
| Heitman Real Estate Securities LLC | $100,553,109 | 96,464 | 0.17% | Shares |
| JANE STREET GROUP, LLC | $94,127,817 | 90,300 | 0.16% | Put option |
| STOREBRAND ASSET MANAGEMENT AS | $93,981,882 | 90,160 | 0.16% | Shares |
| Ensign Peak Advisors, Inc | $92,920,729 | 89,142 | 0.16% | Shares |
| AVIVA PLC | $92,636,157 | 88,869 | 0.16% | Shares |
| ABN AMRO INVESTMENT SOLUTIONS | $92,103,496 | 88,358 | 0.16% | Shares |
| Artisan Partners Limited Partnership | $91,409,264 | 87,692 | 0.16% | Shares |
| MACQUARIE GROUP LTD | $90,042,691 | 86,381 | 0.15% | Shares |
| Korea Investment CORP | $89,592,378 | 85,949 | 0.15% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $87,449,224 | 83,893 | 0.15% | Shares |
| VANGUARD GROUP INC | $85,734,070 | 111,901 | 0.15% | Shares |
Company insiders 52 insiders · 16 officers · 19 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Adaire Fox-Martin | CEO and President | June 1, 2026 M | 22,284 | 0 | 45 | $-12,361,576 |
| Olivier Leonetti | Chief Financial Officer | March 16, 2026 A | — | 0 | 0 | $0 |
| TAYLOR KEITH D | Chief Financial Officer | March 11, 2026 M | 26,587 | 0 | 23 | $-6,555,487 |
| KOEN PHILIP J | President and COO | March 2, 2006 M | 3,764 | 0 | 0 | $0 |
| Kurt Pletcher | Chief Legal Officer | Aug. 20, 2026 S | 4,077 | 0 | 85 | $-2,582,795 |
| MORANDI BRANDI GALVIN | Chief People Officer | June 8, 2026 S | 6,132 | 0 | 25 | $-8,248,327 |
| Jonathan Lin | Chief Business Officer | June 1, 2026 M | 10,911 | 0 | 48 | $-2,629,971 |
| Raouf Abdel | EVP, Global Operations | June 1, 2026 M | 5,934 | 0 | 52 | $-6,582,407 |
| Michael Shane Paladin | Chief Customer & Rev Officer | March 11, 2026 M | 2,450 | 0 | 33 | $-1,204,491 |
| Simon Miller | Chief Accounting Officer | March 11, 2026 M | 7,615 | 0 | 48 | $-1,111,032 |
| Michael Earl Campbell | Chief Sales Officer | Sept. 6, 2024 S | 14,800 | 0 | 0 | $0 |
| Scott Crenshaw | EVP, GM Digital Services | Sept. 6, 2024 S | 4 | 0 | 0 | $0 |
| Meredith Williamson | Chief Customer & Rev Officer | Sept. 3, 2024 M | 0 | 0 | 0 | $0 |
| Peter Van Camp | Executive Chairman | March 7, 2024 A | 8,132 | 0 | 0 | $0 |
| Karl Strohmeyer | Chief Customer & Rev Officer | May 5, 2023 S | 16,582 | 0 | 0 | $0 |
| Sara Baack | Chief Product Officer | Sept. 1, 2021 M | 13,443 | 0 | 0 | $0 |
| Christopher B Paisley | Director | Aug. 18, 2026 S | 13,734 | 0 | 5 | $-4,481,313 |
| Yanbing Li | Director | May 21, 2026 M | 255 | 0 | 0 | $0 |
| Rebecca J Kujawa | Director | May 21, 2026 M | 170 | 0 | 0 | $0 |
| Fidelma Russo | Director | May 21, 2026 M | 640 | 0 | 0 | $0 |
| Thomas S Olinger | Director | May 21, 2026 M | 1,116 | 0 | 0 | $0 |
| Gary Hromadko | Director | May 21, 2026 M | 142,687 | 0 | 0 | $0 |
| Sandra L Rivera | Director | May 13, 2026 A | 1,352 | 0 | 0 | $0 |
| Nanci Caldwell | Director | May 13, 2026 A | 2,316 | 0 | 0 | $0 |
| Charles J Meyers | Director | May 6, 2026 S | 7,370 | 0 | 42 | $-15,728,790 |
| Jeetendra I Patel | Director | May 21, 2025 M | 703 | 0 | 0 | $0 |
| Ron Guerrier | Director | May 26, 2022 M | 209 | 0 | 0 | $0 |
| Irving F Lyons III | Director | May 25, 2022 A | 19,200 | 0 | 0 | $0 |
| Thomas A Bartlett | Director | June 18, 2021 M | 358 | 0 | 0 | $0 |
| Crossover Fund V Management, L.L.C. | Director | Feb. 22, 2008 P | 595,465 | 0 | 0 | $0 |
| LEE THENG KIAT | Director | Aug. 11, 2005 A | — | 0 | 0 | $0 |
| Andrew S Rachleff | Director | June 2, 2005 A | 5,080 | 0 | 0 | $0 |
| RANEY DENNIS R | Director | May 18, 2005 P | 5,000 | 0 | 0 | $0 |
| Temasek Holdings (Private) Limited | 10% owner | Nov. 1, 2004 P | — | 0 | 0 | $0 |
| STT Communications Ltd | 10% owner | Nov. 21, 2003 P | 2,970,414 | 0 | 0 | $0 |
| Crosslink Capital, Inc. | — | Dec. 9, 2016 S | 31,700 | 0 | 0 | $0 |
| Stephen M Smith | — | June 6, 2016 S | 21,471 | 0 | 0 | $0 |
| Yau Tat Lee | — | June 2, 2016 S | 2,457 | 0 | 0 | $0 |
| John L Hughes | — | June 1, 2016 A | 2,329 | 0 | 0 | $0 |
| William K Luby | — | June 1, 2016 A | 5,358 | 0 | 0 | $0 |
| Scott Kriens | — | June 1, 2016 A | 69,318 | 0 | 0 | $0 |
| Eric Schwartz | — | Feb. 16, 2016 M | 6,994 | 0 | 0 | $0 |
| Steven T Clontz | — | May 16, 2013 S | 6,524 | 0 | 0 | $0 |
| FERRIS PETER | — | Feb. 15, 2013 M | 15,354 | 0 | 0 | $0 |
| Jarrett Appleby | — | March 6, 2012 M | 9,265 | 0 | 0 | $0 |
| ENG STEPHEN POY | — | June 9, 2010 M | 2,413 | 0 | 0 | $0 |
| BACKAUS MARJORIE | — | July 7, 2008 S | 39,450 | 0 | 0 | $0 |
| Guy Willner | — | Jan. 3, 2008 A | — | 0 | 0 | $0 |
| LANAM RENEE | — | Dec. 3, 2007 M | 47,313 | 0 | 0 | $0 |
| Sushil Kapoor | — | Aug. 8, 2007 M | 52,571 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 11 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 |
|---|---|---|---|---|---|
| EQUINIX, INC. | Nov. 3, 2009 | — | Initial filing | M&A / sale | SEC |
| TEMASEK HOLDINGS (PRIVATE) LIMITED, SINGAPORE TECHNOLOGIES TELEMEDIA PTE LTD, STT COMMUNICATIONS LTD, i-STT INVESTMENTS PTE. LTD., i-STT INVESTMENTS (BERMUDA) LTD. ×2 filings | Nov. 19, 2008 | — | Initial filing | — | SEC |
| Crosslink Capital, Inc., Crossover Fund III Management, L.L.C., Crosslink Ventures IV Holdings, L.L.C., Crosslink Verwaltungs GmbH, Michael J. Stark, Seymour F. Kaufman, Thomas Edward Bliska, Daniel John Dunn, James Feuille, David I. Epstein, Gary Hromadko ×6 filings | March 1, 2006 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person | Nov. 18, 2005 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Nov. 15, 2005 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person | Oct. 7, 2005 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person | Jan. 14, 2005 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person | Dec. 30, 2004 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person | Dec. 22, 2003 | — | Initial filing | — | SEC |
| PIHANA PACIFIC, INC. | Oct. 15, 2002 | — | Initial filing | — | SEC |
| SINGAPORE TECHNOLOGIES PTE LTD, SINGAPORE TECHNOLOGIES TELEMEDIA PTE LTD, STT COMMUNICATIONS LTD | Oct. 11, 2002 | — | 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 222 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 |
|---|---|---|---|---|
| SRVR · Pacer Funds Trust | 15.38% | 56,141 NS | April 30, 2026 | N-PORT |
| DTCR · Global X Funds | 12.21% | 245,205 NS | May 31, 2026 | N-PORT |
| SPRE · Tidal Trust I | 12.11% | 23,050 NS | May 31, 2026 | N-PORT |
| REIT · ALPS ETF Trust | 9.98% | 4,896 NS | May 31, 2026 | N-PORT |
| REAI · Tidal Trust I | 9.96% | 99 NS | April 30, 2026 | N-PORT |
| FPRO · FIDELITY COVINGTON TRUST | 9.65% | 1,327 NS | April 30, 2026 | N-PORT |
| JRE · Janus Detroit Street Trust | 9.53% | 353 NS | April 30, 2026 | N-PORT |
| IDGT · iShares Trust | 9.29% | 44,530 SH | Aug. 21, 2026 | Daily |
| JPRE · J.P. Morgan Exchange-Traded Fund Tr… | 8.64% | 38,340 NS | May 31, 2026 | N-PORT |
| BYRE · Principal Exchange-Traded Funds | 8.20% | 2,014 NS | June 30, 2026 | N-PORT |
| ICF · iShares Trust | 7.84% | 151,868 SH | Aug. 21, 2026 | Daily |
| PSR · Invesco Actively Managed Exchange-T… | 7.65% | 4,204 | Aug. 21, 2026 | Daily |
| DTRE · First Trust Exchange-Traded Fund II | 6.70% | 911 NS | June 30, 2026 | N-PORT |
| USRT · iShares Trust | 6.31% | 272,201 SH | Aug. 21, 2026 | Daily |
| REET · iShares Trust | 5.74% | 268,646 SH | Aug. 21, 2026 | Daily |
| AVRE · AMERICAN CENTURY ETF TRUST | 5.63% | 42,830 NS | May 31, 2026 | N-PORT |
| VNQ · VANGUARD SPECIALIZED FUNDS | 5.46% | 3,753,793 SH | Aug. 19, 2026 | Daily |
| DFGR · Dimensional ETF Trust | 5.42% | 175,805 NS | April 30, 2026 | N-PORT |
| DFAR · Dimensional ETF Trust | 5.41% | 84,074 NS | April 30, 2026 | N-PORT |
| URE · ProShares Trust | 5.03% | 2,638 NS | May 31, 2026 | N-PORT |
| RNTY · Tidal Trust II | 4.96% | 233 NS | April 30, 2026 | N-PORT |
| PPTY · ETF Series Solutions | 4.92% | 1,135 NS | May 31, 2026 | N-PORT |
| SCHH · SCHWAB STRATEGIC TRUST | 4.88% | 456,418 NS | May 31, 2026 | N-PORT |
| DRN · Direxion Shares ETF Trust | 4.84% | 2,093 NS | April 30, 2026 | N-PORT |
| FREL · FIDELITY COVINGTON TRUST | 4.72% | 62,966 NS | April 30, 2026 | N-PORT |
| IYR · iShares Trust | 4.61% | 194,827 SH | Aug. 21, 2026 | Daily |
| ERET · iShares Trust | 4.54% | 589 SH | Aug. 21, 2026 | Daily |
| BBRE · J.P. Morgan Exchange-Traded Fund Tr… | 4.37% | 50,290 NS | May 31, 2026 | N-PORT |
| IQRA · New York Life Investments Active ET… | 4.15% | 265 NS | April 30, 2026 | N-PORT |
| IRET · Tidal Trust II | 3.64% | 89 NS | April 30, 2026 | N-PORT |
| RSPR · Invesco Exchange-Traded Fund Trust | 3.53% | 3,224 | Aug. 21, 2026 | Daily |
| BWTG · ETF Opportunities Trust | 3.37% | 650 NS | May 31, 2026 | N-PORT |
| TMFG · RBB Fund, Inc. | 3.33% | 11,106 NS | May 31, 2026 | N-PORT |
| RDOG · ALPS ETF Trust | 2.21% | 231 NS | May 31, 2026 | N-PORT |
| PABU · iShares Trust | 2.12% | 49,440 SH | Aug. 21, 2026 | Daily |
| GQRE · FlexShares Trust | 2.09% | 7,378 NS | April 30, 2026 | N-PORT |
| SDG · iShares Trust | 1.82% | 3,017 SH | Aug. 21, 2026 | Daily |
| IGPT · Invesco Exchange-Traded Fund Trust | 1.73% | 19,363 | Aug. 21, 2026 | Daily |
| NXTE · INVESTMENT MANAGERS SERIES TRUST II | 1.63% | 900 NS | June 30, 2026 | N-PORT |
| LPRE · Exchange Listed Funds Trust | 1.58% | 2,314 NS | May 31, 2026 | N-PORT |
| NUDV · Nushares ETF Trust | 1.52% | 634 NS | April 30, 2026 | N-PORT |
| GTEK · Goldman Sachs ETF Trust | 1.49% | 3,385 NS | May 31, 2026 | N-PORT |
| NFRA · FlexShares Trust | 1.41% | 39,904 NS | April 30, 2026 | N-PORT |
| USAF · 2023 ETF Series Trust | 1.39% | 233 NS | June 30, 2026 | N-PORT |
| NXTG · First Trust Exchange-Traded Fund II | 1.30% | 7,035 NS | June 30, 2026 | N-PORT |
| REVS · Columbia ETF Trust I | 1.25% | 3,263 NS | April 30, 2026 | N-PORT |
| CAPE · DoubleLine ETF Trust | 1.17% | 2,669 NS | June 30, 2026 | N-PORT |
| KNCT · Invesco Exchange-Traded Fund Trust | 1.14% | 1,683 | Aug. 21, 2026 | Daily |
| FFND · Northern Lights Fund Trust II | 1.06% | 1,018 NS | May 31, 2026 | N-PORT |
| GDIV · Harbor ETF Trust | 1.01% | 2,099 NS | April 30, 2026 | N-PORT |