EU enCore Energy Corp. - Common Stock
$1.10
Price · Aug 19, 2026
Fundamentals as of Aug 13, 2026
52W Range
$1–$4
2% of range
Analyst Rating
BUY
11 analysts
Price Target
$4
+233% upside
P/E (TTM)
-3.8
ROE
-22.1%
Net Profit Margin
-131.8%
EU Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$1.10
Market Cap
$214M
P/E (TTM)
-3.8
EPS (TTM)
$-0.30
Revenue (TTM)
$43M
Div Yield
—
ROE
-22.1%
Debt/Equity
0.0
52W Range
$1 – $4
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$43M
2022-12-31
→
2025-12-31
EPS
$-0.30
2022-12-31
→
2025-12-31
Free Cash Flow
$-45M
2024-12-31
→
2025-12-31
Margins
-131.8%
2024-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
EU
Peer Median
P/E (TTM)
-3.8
12.2
P/S (TTM)
5.0
8.0
P/B
0.9
2.0
EV / EBITDA
-2.7
—
Price / FCF
-4.7
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
EU
Peer Median
Gross Margin
22.5%
32.5%
Operating Margin
-152.4%
—
Net Profit Margin
-131.8%
2.5%
ROA
-13.8%
2.7%
ROE
-22.1%
4.2%
ROIC
-28.5%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
EU
Peer Median
Debt / Equity
0.0
44.0
Current Ratio
8.0
1.9
Quick Ratio
4.2
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
EU
Peer Median
Revenue YoY
-26.0%
—
Revenue CAGR 3Y
116.6%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
EU
Peer Median
EU Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
11 analysts
- Strong Buy 2 18.2%
- Buy 8 72.7%
- Hold 1 9.1%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
4 analysts · 2026-08-15
Median
$3.92
Mean
$3.66
← Below all targets
$1.10
Low
$2.51
High
$4.27
Median target
$3.92
+256.6%
Mean target
$3.66
+232.5%
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 | $0.03 | $-0.04 | 0.07% |
| Dec. 31, 2025 | $-0.12 | $-0.05 | -0.07% |
| March 31, 2025 | $-0.13 | $-0.01 | -0.12% |
| Sept. 30, 2024 | $-0.10 | $-0.01 | -0.08% |
| June 30, 2024 | $-0.05 | $0.01 | -0.06% |
| March 31, 2024 | $-0.03 | $-0.03 | 0.00% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| EU | $465M | -8.3 | -26.0% | -131.8% | -22.1% | 22.5% |
| NRP | — | — | -16.6% | — | — | — |
| NC | — | 20.9 | 16.6% | 6.3% | 4.2% | 13.9% |
| LTBR | $422M | -16.9 | — | — | -13.0% | — |
| AREC | $265M | 3.9 | -99.7% | — | 718.3% | — |
| NUCL | — | — | — | — | — | — |
| SAFX | — | 0.5 | — | — | — | — |
| SAFX | — | 0.5 | — | — | — | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Revenue | $43M | $58M | $22M | |
| Cost of Revenue | $33M | $66M | $20M | |
| Gross Profit | $10M | $-7M | $3M | |
| SG&A Expense | $43M | $27M | $20M | |
| Operating Expenses | $75M | $65M | $43M | |
| Operating Income | $-66M | $-72M | $-41M | |
| Interest Income | $2M | $2M | $393.0K | |
| Other Non-op | $0 | $-17.0K | $0 | |
| Pretax Income | $-64M | $-74M | $26M | |
| Income Tax | $-488.0K | $-6M | $-500.0K | |
| Net Income | $-57M | $-61M | $-26M | |
| EPS (Basic) | $-0.30 | $-0.34 | $-0.18 | |
| EPS (Diluted) | $-0.30 | $-0.34 | $-0.18 | |
| Shares (Basic) | 186,861,112 | 181,982,829 | 144,043,709 | |
| Shares (Diluted) | 186,861,112 | 181,982,829 | 144,043,709 | |
| EBITDA | $-60M | $-68M | · |
Balance Sheet 26
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Cash & Equivalents | $52M | $40M | $7M | |
| Short-term Investments | · | $24M | $17M | |
| Receivables | $5M | $0 | · | |
| Inventory | $5M | $21M | $9.0K | |
| Prepaid Expense | $4M | $3M | $931.0K | |
| Current Assets | $110M | $87M | $25M | |
| PP&E (Net) | $41M | $24M | $15M | |
| PP&E (Gross) | $49M | $28M | $17M | |
| Accum. Depreciation | $8M | $4M | $2M | |
| Intangibles | $1M | $471.0K | $514.0K | |
| Other Non-current Assets | $678.0K | $0 | $88.0K | |
| Total Assets | $430M | $393M | $327M | |
| Short-term Debt | $0 | $20M | · | |
| Current Liabilities | $14M | $30M | $6M | |
| Capital Leases | $3M | $202.0K | $294.0K | |
| Deferred Tax | $26M | $27M | $28M | |
| Total Liabilities | $172M | $74M | $65M | |
| Long-term Debt | $110M | $0 | · | |
| Total Debt | $0 | $20M | · | |
| Common Stock | $383M | $380M | $308M | |
| Paid-in Capital | $57M | $60M | $41M | |
| Retained Earnings | $-208M | $-151M | $-89M | |
| AOCI | $-3M | $-4M | $-2M | |
| Stockholders' Equity | $229M | $286M | $262M | |
| Liabilities + Equity | $430M | $393M | $327M | |
| Shares Outstanding | 187,354,424 | 186,114,948 | 165,133,798 |
Cash Flow 13
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| D&A | $5M | $3M | $6M | |
| Stock-based Comp | $4M | $5M | $3M | |
| Deferred Tax | $-596.0K | $-6M | $-469.0K | |
| Amort. of Intangibles | $18.0K | $19.0K | $19.0K | |
| Other Non-cash | $23M | $13M | · | |
| Operating Cash Flow | $-25M | $-45M | $-23M | |
| CapEx | $20M | $11M | $8M | |
| Investing Cash Flow | $-46M | $-30M | $-65M | |
| Stock Issued | $0 | $2M | $49M | |
| Net Stock Activity | $0 | $2M | · | |
| Financing Cash Flow | $85M | $107M | $46M | |
| Taxes Paid | $108.0K | $38.0K | · | |
| Free Cash Flow | $-45M | $-57M | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Gross Margin | 22.5% | -12.3% | · | |
| Operating Margin | -152.4% | -123.7% | · | |
| Net Margin | -131.8% | -105.2% | · | |
| Pretax Margin | -147.2% | -126.7% | · | |
| EBITDA Margin | -139.9% | -115.9% | · | |
| ROA | -13.8% | -15.5% | · | |
| ROE | -22.1% | -21.1% | · | |
| ROIC | -28.5% | -21.7% | · |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Current Ratio | 8.0 | 2.9 | · | |
| Quick Ratio | 4.2 | 2.1 | · | |
| Debt / Equity | 0.0 | 0.1 | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | |
| Inventory Turnover | 2.5 | 2.7 | · | |
| Receivables Turnover | 17.5 | · | · |
Growth Rates 2
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Revenue YoY | -26.0% | 163.4% | 421.7% | |
| Revenue CAGR 3Y | 116.6% | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Revenue TTM | $43M | $58M | · | |
| Net Income TTM | $-57M | $-61M | · | |
| Market Cap | $465M | $635M | · | |
| Enterprise Value | $412M | $591M | · | |
| P/E | -8.3 | -10.0 | · | |
| P/S | 10.8 | 10.9 | · | |
| P/B | 2.0 | 2.2 | · | |
| P / Tangible Book | 2.0 | 2.2 | · | |
| P / Cash Flow | -18.6 | -14.0 | · | |
| P / FCF | -10.3 | -11.2 | · | |
| EV / EBITDA | -6.8 | -8.7 | · | |
| EV / FCF | -9.2 | -10.5 | · | |
| EV / Revenue | 9.6 | 10.1 | · | |
| Earnings Yield | -12.1% | -10.0% | · |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16M | $18M | $12M | $9M | $4M | $18M | $13M | $9M | $5M | $30M | |
| Cost of Revenue | $18M | $18M | $8M | $5M | $3M | $18M | $14M | $11M | $10M | $31M | |
| Gross Profit | $-3M | $-64.0K | $5M | $4M | $1M | $-23.0K | $-288.0K | $-1M | $-5M | $-469.0K | |
| SG&A Expense | $14M | $10M | $13M | $12M | $10M | $8M | $7M | $9M | $5M | $6M | |
| Operating Expenses | $27M | $-10M | $22M | $18M | $20M | $16M | $19M | $16M | $18M | $12M | |
| Operating Income | $-29M | $10M | $-17M | $-14M | $-19M | $-16M | $-20M | $-17M | $-23M | $-12M | |
| Interest Income | $272.0K | $386.0K | $693.0K | $542.0K | $201.0K | $279.0K | $476.0K | $651.0K | $909.0K | $440.0K | |
| Other Non-op | $-15M | $-8M | $0 | $0 | $10M | $-10M | $0 | $0 | $0 | $-17.0K | |
| Pretax Income | $-45M | $2M | $-23M | $-6M | $-9M | $-26M | $-19M | $-19M | $-24M | $-13M | |
| Income Tax | $0 | $-193.0K | $-364.0K | $58.0K | $0 | $-182.0K | $-282.0K | $-283.0K | $-283.0K | $-5M | |
| Net Income | $-41M | $5M | $-22M | $-5M | $-6M | $-24M | $-16M | $-16M | $-22M | $-7M | |
| EPS (Basic) | $-0.21 | $0.03 | $-0.11 | $-0.03 | $-0.03 | $-0.13 | $-0.09 | $-0.09 | $-0.12 | $-0.04 | |
| EPS (Diluted) | $-0.21 | $0.03 | $-0.11 | $-0.03 | $-0.03 | $-0.13 | $-0.09 | $-0.09 | $-0.12 | $-0.04 | |
| Shares (Basic) | 194,233,452 | 191,415,846 | -373,602,479 | 187,361,185 | 186,880,121 | 186,222,285 | -359,926,084 | 185,184,856 | 183,237,488 | 173,486,569 | |
| Shares (Diluted) | 194,233,452 | 191,415,846 | -373,602,479 | 187,361,185 | 186,880,121 | 186,222,285 | -359,926,084 | 185,184,856 | 183,237,488 | 173,486,569 | |
| EBITDA | $-29M | $11M | · | $-14M | $-19M | $-13M | · | · | · | · |
Balance Sheet 25
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $22M | $42M | $52M | $92M | $27M | $30M | $40M | · | · | · | |
| Receivables | $0 | $5M | $5M | · | · | · | $0 | · | · | · | |
| Inventory | $14M | $10M | $5M | $11M | $10M | $6M | $21M | · | · | · | |
| Prepaid Expense | $11M | $7M | $4M | $2M | $2M | $3M | $3M | · | · | · | |
| Current Assets | $99M | $134M | $110M | $129M | $50M | $54M | $87M | · | · | · | |
| PP&E (Net) | $40M | $41M | $41M | $37M | $32M | $29M | $24M | · | · | · | |
| PP&E (Gross) | $50M | $49M | $49M | $44M | $37M | $34M | $28M | · | · | · | |
| Accum. Depreciation | $10M | $9M | $8M | $6M | $6M | $5M | $4M | · | · | · | |
| Intangibles | $1M | $1M | $1M | $1M | $1M | $1M | $471.0K | · | · | · | |
| Other Non-current Assets | $593.0K | $637.0K | $678.0K | $720.0K | $378.0K | · | $0 | · | · | · | |
| Total Assets | $417M | $452M | $430M | $442M | $359M | $363M | $393M | · | · | · | |
| Short-term Debt | · | · | $0 | $0 | $10M | $10M | $20M | · | · | · | |
| Current Liabilities | $12M | $12M | $14M | $9M | $20M | $18M | $30M | · | · | · | |
| Capital Leases | $3M | $3M | $3M | $334.0K | $176.0K | $185.0K | $202.0K | · | · | · | |
| Deferred Tax | $26M | $26M | $26M | $27M | $27M | $27M | $27M | · | · | · | |
| Total Liabilities | $172M | $170M | $172M | $164M | $64M | $63M | $74M | · | · | · | |
| Long-term Debt | $110M | $110M | $110M | $109M | · | · | $0 | · | · | · | |
| Total Debt | · | · | · | $0 | $10M | $10M | · | · | · | · | |
| Common Stock | $410M | $410M | $383M | $382M | $382M | $381M | $380M | · | · | · | |
| Paid-in Capital | $52M | $50M | $57M | $55M | $66M | $66M | $60M | · | · | · | |
| Retained Earnings | $-244M | $-202M | $-208M | $-186M | $-181M | $-175M | $-151M | · | · | · | |
| AOCI | $4M | $-3M | $-3M | $-3M | $-2M | $-4M | $-4M | · | · | · | |
| Stockholders' Equity | $222M | $255M | $229M | $249M | $265M | $268M | $286M | · | · | · | |
| Liabilities + Equity | $417M | $452M | $430M | $442M | $359M | $363M | $393M | · | · | · | |
| Shares Outstanding | 194,250,599 | 194,216,153 | 187,354,424 | 187,104,534 | 187,058,324 | 186,386,281 | 186,114,948 | · | · | · |
Cash Flow 11
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $2M | $1M | $2M | $1M | $172.0K | $1M | $851.0K | $884.0K | $776.0K | $751.0K | |
| Stock-based Comp | $2M | $2M | $2M | $477.0K | $751.0K | $878.0K | $1M | $2M | $885.0K | $818.0K | |
| Amort. of Intangibles | $5.0K | $5.0K | $-5.0K | $8.0K | $10.0K | $5.0K | $5.0K | $5.0K | $4.0K | $5.0K | |
| Other Non-cash | · | $-30M | · | · | · | $13M | · | · | · | · | |
| Operating Cash Flow | $-21M | $-21M | $13M | $-20M | $-10M | $-8M | $387.0K | $-5M | $-37M | $-3M | |
| CapEx | · | · | $6M | $6M | $4M | $4M | $6M | $1M | $2M | $2M | |
| Investing Cash Flow | $-6M | $-6M | $-33M | $-12M | $6M | $-8M | $-12M | $-7M | $-6M | $-5M | |
| Stock Issued | · | · | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2M | |
| Net Stock Activity | · | · | · | · | · | $0 | · | · | · | · | |
| Financing Cash Flow | $0 | $18M | $-20M | $98M | $1M | $5M | $5M | $3M | $10M | $90M | |
| Free Cash Flow | · | · | · | · | · | $-12M | · | · | · | · |
Profitability 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | -16.4% | -0.35% | · | 43.8% | 30.8% | -0.13% | · | · | · | · | |
| Operating Margin | -187.9% | 54.4% | · | -158.2% | -526.1% | -85.7% | · | · | · | · | |
| Net Margin | -264.1% | 29.5% | · | -53.6% | -172.7% | -132.9% | · | · | · | · | |
| Pretax Margin | -284.2% | 12.7% | · | -71.3% | -241.1% | -140.2% | · | · | · | · | |
| EBITDA Margin | -187.9% | 61.1% | · | -158.2% | -526.1% | -73.8% | · | · | · | · | |
| ROA | -10.7% | 1.3% | · | -2.2% | -3.5% | -13.4% | · | · | · | · | |
| ROE | -17.0% | 2.1% | · | -3.8% | -4.8% | -18.1% | · | · | · | · | |
| ROIC | -13.3% | 4.2% | · | -5.7% | -7.0% | -5.6% | · | · | · | · |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 8.0 | 11.1 | · | 13.6 | 2.5 | 2.9 | · | · | · | · | |
| Quick Ratio | 1.8 | 3.9 | · | 9.7 | 1.4 | 1.6 | · | · | · | · | |
| Debt / Equity | · | · | · | 0.0 | 0.0 | 0.0 | · | · | · | · |
Efficiency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.1 | · | · | · | · | |
| Inventory Turnover | 1.5 | 2.3 | · | 0.9 | 0.5 | 5.9 | · | · | · | · | |
| Receivables Turnover | · | 7.3 | · | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $47M | $49M | · | $44M | $45M | $46M | · | · | · | · | |
| Net Income TTM | $-47M | $-30M | · | $-52M | $-64M | $-79M | · | · | · | · | |
| Market Cap | $254M | $350M | · | $601M | $535M | $255M | · | · | · | · | |
| Enterprise Value | · | · | · | $509M | $518M | $236M | · | · | · | · | |
| P/E | -5.5 | -11.2 | · | -11.5 | -8.4 | -3.2 | · | · | · | · | |
| P/S | 5.5 | 7.1 | · | 13.6 | 12.0 | 5.5 | · | · | · | · | |
| P/B | 1.1 | 1.4 | · | 2.4 | 2.0 | 1.0 | · | · | · | · | |
| P / Tangible Book | 1.2 | 1.4 | · | 2.4 | 2.0 | 1.0 | · | · | · | · | |
| P / Cash Flow | · | -16.3 | · | · | · | -33.0 | · | · | · | · | |
| P / FCF | · | · | · | · | · | -21.8 | · | · | · | · | |
| EV / EBITDA | · | · | · | -36.2 | -26.9 | -17.5 | · | · | · | · | |
| EV / FCF | · | · | · | · | · | -20.1 | · | · | · | · | |
| EV / Revenue | · | · | · | 11.5 | 11.6 | 5.1 | · | · | · | · | |
| Earnings Yield | -18.3% | -8.9% | · | -8.7% | -11.9% | -31.4% | · | · | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | |
|---|---|---|---|---|---|
| Revenue | $43M | $58M | — | — | — |
| Gross Margin % | 22.5% | -12.3% | — | — | — |
| Operating Margin % | -152.4% | -123.7% | — | — | — |
| Net Income | $-57M | $-61M | — | — | — |
| Diluted EPS | $-0.30 | $-0.34 | — | — | — |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.0 | 0.1 | — | — | — |
| Current Ratio | 8.0 | 2.9 | — | — | — |
| Quick Ratio | 4.2 | 2.1 | — | — | — |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-45M | $-57M | — | — | — |
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Institutional owners (13F) 161 filers · $109.4M 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 |
|---|---|---|---|---|
| 19 (-15 vs prior Q) | 31 (+15 vs prior Q) | 55 (+1 vs prior Q) | 50 (-3 vs prior Q) | +13.0M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VAN ECK ASSOCIATES CORP | $19,860,816 | 15,159,056 | 18.15% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $17,297,138 | 13,264,619 | 15.80% | Shares |
| UBS Group AG | $11,449,310 | 8,739,931 | 10.46% | Call option |
| VANGUARD CAPITAL MANAGEMENT LLC | $7,991,138 | 6,100,105 | 7.30% | Shares |
| Azarias Capital Management, L.P. | $5,360,381 | 4,091,894 | 4.90% | Shares |
| Vident Advisory, LLC | $5,058,842 | 3,879,585 | 4.62% | Shares |
| STATE STREET CORP | $4,438,363 | 3,388,063 | 4.06% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $3,299,565 | 2,518,752 | 3.01% | Shares |
| Defiance ETFs, LLC | $2,863,578 | 2,105,572 | 2.62% | Shares |
| VANGUARD GROUP INC | $2,578,210 | 1,039,601 | 2.36% | Shares |
| MMCAP International Inc. SPC | $2,441,288 | 1,863,579 | 2.23% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $2,402,802 | 1,834,200 | 2.20% | Call option |
| MIRABELLA FINANCIAL SERVICES LLP | $2,358,000 | 1,800,000 | 2.15% | Shares |
| Goehring & Rozencwajg Associates, LLC | $1,976,113 | 1,508,483 | 1.81% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,703,807 | 1,300,616 | 1.56% | Shares |
| MILLENNIUM MANAGEMENT LLC | $1,431,860 | 1,094,149 | 1.31% | Shares |
| TWO SIGMA ADVISERS, LP | $1,098,640 | 443,000 | 1.00% | Shares |
| ABBINGTON INVESTMENT GROUP | $964,742 | 736,444 | 0.88% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $881,390 | 672,817 | 0.81% | Shares |
| DEUTSCHE BANK AG\ | $818,656 | 624,928 | 0.75% | Shares |
| PICTON MAHONEY ASSET MANAGEMENT | $759,043 | 583,355 | 0.69% | Shares |
| NOMURA HOLDINGS INC | $709,100 | 541,298 | 0.65% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $656,592 | 501,214 | 0.60% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $623,650 | 476,069 | 0.57% | Shares |
| SOUTHPORT MANAGEMENT, L.L.C. | $558,000 | 225,000 | 0.51% | Shares |
| AMERICAN CENTURY COMPANIES INC | $420,164 | 320,736 | 0.38% | Shares |
| ALLIANCEBERNSTEIN L.P. | $395,694 | 219,830 | 0.36% | Shares |
| WOLVERINE TRADING, LLC | $383,778 | 124,200 | 0.35% | Call option |
| MORGAN STANLEY | $380,939 | 290,793 | 0.35% | Shares |
| XTX Topco Ltd | $357,489 | 272,892 | 0.33% | Shares |
| Bank of New York Mellon Corp | $338,044 | 258,049 | 0.31% | Shares |
| RHUMBLINE ADVISERS | $294,353 | 224,705 | 0.27% | Shares |
| CITADEL ADVISORS LLC | $290,820 | 222,000 | 0.27% | Call option |
| PEAK6 LLC | $274,606 | 209,623 | 0.25% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $271,039 | 206,900 | 0.25% | Put option |
| D. E. Shaw & Co., Inc. | $262,658 | 200,502 | 0.24% | Shares |
| OLD MISSION CAPITAL LLC | $243,840 | 186,138 | 0.22% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $242,030 | 184,756 | 0.22% | Shares |
| FLAX POND CAPITAL, LLC | $230,831 | 176,207 | 0.21% | Shares |
| CITADEL ADVISORS LLC | $230,822 | 176,200 | 0.21% | Put option |
| CITADEL ADVISORS LLC | $225,325 | 172,004 | 0.21% | Shares |
| WELLS FARGO & COMPANY/MN | $213,916 | 163,295 | 0.20% | Shares |
| Quadrature Capital Ltd | $212,568 | 162,266 | 0.19% | Shares |
| BlackRock, Inc. | $199,129 | 152,007 | 0.18% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $185,302 | 141,452 | 0.17% | Shares |
| BANK OF AMERICA CORP /DE/ | $169,062 | 129,055 | 0.15% | Shares |
| JANE STREET GROUP, LLC | $161,130 | 123,000 | 0.15% | Call option |
| Graham Capital Management, L.P. | $158,361 | 120,886 | 0.14% | Shares |
| SPROTT INC. | $158,175 | 120,744 | 0.14% | Shares |
| IEQ CAPITAL, LLC | $155,338 | 118,579 | 0.14% | Shares |
| Chicago Partners Investment Group LLC | $149,809 | 123,809 | 0.14% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $147,465 | 112,569 | 0.13% | Shares |
| MetLife Investment Management, LLC | $147,130 | 112,313 | 0.13% | Shares |
| Federation des caisses Desjardins du Quebec | $135,152 | 104,383 | 0.12% | Shares |
| JPMORGAN CHASE & CO | $107,511 | 80,835 | 0.10% | Shares |
| CITIGROUP INC | $102,721 | 78,776 | 0.09% | Shares |
| Invesco Ltd. | $101,348 | 77,365 | 0.09% | Shares |
| Wealthspire Retirement, LLC | $96,312 | 73,520 | 0.09% | Shares |
| Atria Wealth Solutions, Inc. | $87,900 | 30,000 | 0.08% | Shares |
| CWM, LLC | $82,093 | 45,607 | 0.08% | Shares |
| Caitong International Asset Management Co., Ltd | $77,198 | 58,930 | 0.07% | Shares |
| INTECH INVESTMENT MANAGEMENT LLC | $73,908 | 56,418 | 0.07% | Shares |
| Police & Firemen's Retirement System of New Jersey | $72,681 | 55,482 | 0.07% | Shares |
| Quantbot Technologies LP | $72,167 | 55,089 | 0.07% | Shares |
| Trifecta Capital Advisors, LLC | $70,740 | 54,000 | 0.06% | Shares |
| Capital Market Strategies LLC | $68,157 | 23,831 | 0.06% | Shares |
| Rockefeller Capital Management L.P. | $65,500 | 50,000 | 0.06% | Shares |
| Parallax Volatility Advisers, L.P. | $65,500 | 50,000 | 0.06% | Call option |
| NEW YORK STATE COMMON RETIREMENT FUND | $64,816 | 49,478 | 0.06% | Shares |
| J.W. COLE ADVISORS, INC. | $62,966 | 48,066 | 0.06% | Shares |
| LeConte Wealth Management, LLC | $62,805 | 47,943 | 0.06% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $61,844 | 47,209 | 0.06% | Shares |
| WOLVERINE TRADING, LLC | $61,683 | 19,962 | 0.06% | Shares |
| EntryPoint Capital, LLC | $58,446 | 44,615 | 0.05% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $53,827 | 41,089 | 0.05% | Shares |
| GOLDMAN SACHS GROUP INC | $52,016 | 39,707 | 0.05% | Shares |
| Rathbones Group PLC | $45,850 | 35,000 | 0.04% | Shares |
| WOLVERINE TRADING, LLC | $42,642 | 13,800 | 0.04% | Put option |
| PRUDENTIAL FINANCIAL INC | $40,617 | 31,005 | 0.04% | Shares |
| NORTHERN TRUST CORP | $40,170 | 30,664 | 0.04% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $39,688 | 30,296 | 0.04% | Shares |
| Nuveen Asset Management, LLC | $39,454 | 11,570 | 0.04% | Shares |
| RAYMOND JAMES FINANCIAL INC | $38,606 | 29,470 | 0.04% | Shares |
| MINDSET WEALTH MANAGEMENT, LLC | $35,574 | 27,156 | 0.03% | Shares |
| Tower Research Capital LLC (TRC) | $35,150 | 26,832 | 0.03% | Shares |
| ALPS ADVISORS INC | $34,674 | 26,469 | 0.03% | Shares |
| Sanctuary Advisors, LLC | $34,538 | 26,365 | 0.03% | Shares |
| BANK OF MONTREAL /CAN/ | $34,410 | 26,406 | 0.03% | Shares |
| BARCLAYS PLC | $34,199 | 26,106 | 0.03% | Shares |
| Larson Financial Group LLC | $34,137 | 26,059 | 0.03% | Shares |
| UBS Group AG | $33,600 | 25,649 | 0.03% | Shares |
| ProShare Advisors LLC | $33,444 | 25,531 | 0.03% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $31,807 | 24,096 | 0.03% | Shares |
| LPL Financial LLC | $31,071 | 23,718 | 0.03% | Shares |
| CIBC WORLD MARKETS CORP | $30,216 | 12,184 | 0.03% | Shares |
| FMR LLC | $28,732 | 21,933 | 0.03% | Shares |
| JANE STREET GROUP, LLC | $26,855 | 20,500 | 0.02% | Put option |
| Legal & General Group Plc | $26,360 | 20,122 | 0.02% | Shares |
| Krilogy Financial LLC | $25,499 | 19,465 | 0.02% | Shares |
| XPONANCE LLC | $24,323 | 18,567 | 0.02% | Shares |
Company insiders 12 insiders · 6 officers · 8 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Richard H Little | Chief Executive Officer | June 9, 2026 P | 50,000 | 1 | 0 | $64,000 |
| Robert J Willette | Chief Executive Officer | Oct. 8, 2025 A | — | 0 | 0 | $0 |
| Kevin L Kremke | Chief Financial Officer | Oct. 8, 2025 A | — | 0 | 0 | $0 |
| Dain A Mccoig | Chief Operating Officer | May 1, 2026 M | 20,271 | 0 | 0 | $0 |
| William M Sheriff | Executive Chairman | May 18, 2026 P | 25,000 | 3 | 9 | $-223,588 |
| Robert W. Hudson | General Counsel and Secretary | Oct. 8, 2025 A | — | 0 | 0 | $0 |
| Wayne W. Heili | Director | June 12, 2026 P | 35,000 | 1 | 0 | $50,400 |
| Mark S Pelizza | Director | June 12, 2026 P | 238,238 | 2 | 0 | $136,884 |
| Dennis Stover | Director | Oct. 8, 2025 A | 488,500 | 0 | 1 | $-66,600 |
| Susan Hoxie-Key | Director | Oct. 8, 2025 A | — | 0 | 0 | $0 |
| William B. Harris | Director | Oct. 8, 2025 A | 280,001 | 0 | 1 | $-272,800 |
| Nathan Tewalt | — | Oct. 8, 2025 A | — | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
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 |
|---|---|---|---|---|
| BNDX · VANGUARD CHARLOTTE FUNDS | 1.04% | 1,325,138,249 PA | Aug. 8, 2026 | Daily |
| SRVR · Pacer Funds Trust | 0.48% | 976,110 NS | April 30, 2026 | N-PORT |
| URA · Global X Funds | 0.30% | 11,920,055 NS | April 30, 2026 | N-PORT |
| BNDW · VANGUARD SCOTTSDALE FUNDS | 0.27% | 9,944,271 PA | Aug. 8, 2026 | Daily |
| VCRB · VANGUARD MALVERN FUNDS | 0.13% | 17,991,168 PA | Aug. 8, 2026 | Daily |
| VPLS · VANGUARD MALVERN FUNDS | 0.12% | 3,764,483 PA | Aug. 8, 2026 | Daily |
| IWC · iShares Trust | 0.05% | 667,652 SH | Aug. 8, 2026 | Daily |
| CCSO · Tidal Trust II | 0.04% | 9,734 NS | April 30, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.02% | 165,558 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.02% | 302,236 NS | May 31, 2026 | N-PORT |
| IWN · iShares Trust | 0.01% | 1,616,770 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.01% | 81,060 NS | April 30, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 1,120,480 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.01% | 8,668 NS | May 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.01% | 4,872,180 SH | Aug. 8, 2026 | Daily |
| UWM · ProShares Trust | 0.00% | 6,778 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 6,857 NS | May 31, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.00% | 5,688 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 6,771 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 172 NS | May 31, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 44,284 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 5,965,500 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 14,578 SH | Aug. 8, 2026 | Daily |