FOR Forestar Group Inc Common Stock
$29.35
Price · Aug 19, 2026
Fundamentals as of Jul 22, 2026
52W Range
$23–$32
71% of range
Analyst Rating
STRONG BUY
8 analysts
Price Target
$34
+16% upside
P/E (TTM)
9.0
ROE
10.0%
Net Profit Margin
10.1%
FOR Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$29.35
Market Cap
$1.50B
P/E (TTM)
9.0
EPS (TTM)
$3.29
Revenue (TTM)
$1.66B
Div Yield
—
ROE
10.0%
Debt/Equity
—
52W Range
$23 – $32
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$1.66B
2016-12-31
→
2025-09-30
EPS
$3.29
2016-12-31
→
2025-09-30
Free Cash Flow
$-200M
2016-12-31
→
2025-09-30
Margins
10.1%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
FOR
Peer Median
P/E (TTM)
9.0
11.0
P/S (TTM)
0.9
2.6
P/B
0.8
0.9
Price / FCF
-7.5
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
FOR
Peer Median
Net Profit Margin
10.1%
-25.4%
ROA
5.6%
-1.5%
ROE
10.0%
-4.2%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
FOR
Peer Median
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
FOR
Peer Median
Revenue YoY
10.1%
—
Revenue CAGR 3Y
3.0%
—
Revenue CAGR 5Y
12.3%
—
EPS YoY
-17.8%
—
Net Income YoY
-17.4%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
FOR
Peer Median
FOR Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
8 analysts
- Strong Buy 3 37.5%
- Buy 3 37.5%
- Hold 2 25.0%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
2 analysts · 2026-08-13
Median
$34.00
← Below all targets
$29.35
Low
$33.00
High
$35.00
Median target
$34.00
+15.8%
Mean target
$34.00
+15.8%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.00%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.70 | $0.82 | -0.12% |
| March 31, 2026 | $0.63 | $0.64 | -0.01% |
| Dec. 31, 2025 | $0.30 | $0.32 | -0.02% |
| Sept. 30, 2025 | $1.70 | $1.27 | 0.43% |
| June 30, 2025 | $0.65 | $0.75 | -0.10% |
| March 31, 2025 | $0.64 | $0.80 | -0.16% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| FOR | $1.35B | 8.1 | 10.1% | 10.1% | 10.0% | — |
| HHH | — | 36.1 | -15.8% | — | — | — |
| STRS | $192M | 16.4 | -44.8% | 9.4% | 1.4% | — |
| AXR | — | 14.4 | 6.3% | 19.5% | 7.4% | — |
| STHO | $101M | -1.7 | -2.8% | -58.3% | -22.3% | — |
| AEI | $134M | -1.5 | -78.8% | -1060.5% | -46.9% | 27.9% |
| RENX | $178.3K | -0.0 | 3860.7% | -194.1% | -363.8% | 29.1% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.66B | $1.51B | $1.44B | $1.52B | $1.33B | $932M | $428M | · | $114M | $197M | $219M | $238M | |
| Cost of Revenue | $1.30B | $1.15B | $1.13B | $1.20B | $1.10B | $814M | $363M | · | $113M | · | · | · | |
| SG&A Expense | $154M | $118M | $98M | $94M | $68M | $46M | $29M | · | $75M | $22M | $27M | $22M | |
| Operating Expenses | · | · | · | · | · | · | · | · | $188M | $224M | $196M | $197M | |
| Operating Income | · | · | · | · | · | · | · | · | $40M | $140M | $24M | $71M | |
| Interest Expense | · | · | · | · | · | $0 | $0 | · | $8M | $20M | $34M | $30M | |
| Pretax Income | $219M | $270M | $222M | $236M | $147M | $78M | $46M | · | $52M | $92M | $9M | $58M | |
| Income Tax | $51M | $67M | $55M | $57M | $36M | $16M | $9M | · | $46M | $15M | $35M | $21M | |
| Net Income | $168M | $203M | $167M | $179M | $110M | $61M | $33M | · | $50M | $59M | $-213M | $17M | |
| EPS (Basic) | $3.30 | $4.03 | $3.34 | $3.59 | $2.25 | $1.26 | $0.79 | · | $1.19 | $1.40 | $-6.22 | $0.38 | |
| EPS (Diluted) | $3.29 | $4.00 | $3.33 | $3.59 | $2.25 | $1.26 | $0.79 | · | $1.19 | $1.38 | $-6.22 | $0.38 | |
| Shares (Basic) | 50,900,000 | 50,400,000 | 50,000,000 | 49,800,000 | 48,900,000 | 48,000,000 | 42,000,000 | · | 42,142,690 | 34,546,000 | 34,266,000 | 35,317,000 | |
| Shares (Diluted) | 51,100,000 | 50,800,000 | 50,100,000 | 49,800,000 | 49,000,000 | 48,100,000 | 42,000,000 | · | 42,381,023 | 42,334,000 | 34,266,000 | 43,596,000 | |
| EBITDA | $4M | $3M | $3M | $3M | $3M | $5M | $7M | · | $45M | $152M | $-120M | $80M |
Balance Sheet 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $379M | $481M | $616M | $265M | $154M | $394M | $383M | $335M | $322M | $266M | $96M | $170M | |
| PP&E (Net) | $8M | $7M | $6M | $6M | $3M | $1M | $2M | $2M | $2M | $3M | $11M | $12M | |
| PP&E (Gross) | $13M | $11M | $9M | $7M | $4M | $2M | $4M | $3M | $7M | $8M | $16M | $19M | |
| Accum. Depreciation | $5M | $4M | $3M | $2M | $900.0K | $1M | $2M | $2M | $5M | $5M | $6M | $7M | |
| Goodwill | · | · | · | · | · | · | · | · | $0 | $38M | $42M | $63M | |
| Intangibles | · | · | · | · | · | · | $0 | $500.0K | $448.0K | $0 | $2M | $3M | |
| Total Assets | $3.14B | $2.84B | $2.47B | $2.34B | $2.10B | $1.74B | $1.46B | $893M | $762M | $733M | $972M | $1.26B | |
| Deferred Tax | $86M | $68M | $51M | $37M | $24M | $6M | $0 | · | · | · | · | · | |
| Total Liabilities | $1.37B | $1.25B | $1.10B | $1.14B | $1.09B | $868M | $647M | $219M | $156M | $171M | $468M | $548M | |
| Long-term Debt | $803M | $706M | $695M | $706M | $704M | $641M | $460M | $112M | $108M | $110M | $382M | $433M | |
| Common Stock | $51M | $51M | $50M | $50M | $50M | $48M | $48M | $42M | $42M | $45M | $37M | $37M | |
| Retained Earnings | $1.05B | $878M | $675M | $508M | $329M | $219M | $158M | $125M | $56M | $13M | $-46M | $167M | |
| Treasury Stock | · | · | · | · | · | · | · | · | $0 | $50M | $51M | $56M | |
| Stockholders' Equity | $1.77B | $1.59B | $1.37B | $1.20B | $1.01B | $871M | $808M | $673M | $604M | $561M | $502M | $707M | |
| Liabilities + Equity | $3.14B | $2.84B | $2.47B | $2.34B | $2.10B | $1.74B | $1.46B | $893M | $762M | $733M | $972M | $1.26B | |
| Shares Outstanding | 50,833,171 | 50,653,637 | 49,903,713 | 49,761,480 | 49,580,389 | 48,061,921 | 47,997,366 | 41,939,403 | 41,938,936 | 44,803,603 | · | · |
Cash Flow 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $4M | $3M | $3M | $3M | $3M | $5M | $7M | · | $6M | $11M | $45M | $42M | |
| Stock-based Comp | $7M | $5M | $4M | $3M | $3M | $2M | $1M | · | $7M | $4M | $4M | $3M | |
| Deferred Tax | $19M | $17M | $14M | $12M | $19M | $23M | $9M | · | $-2M | $-1M | $41M | $2M | |
| Restructuring | · | · | · | · | · | · | · | · | · | $3M | $4M | · | |
| Other Non-cash | $-395M | $-387M | $176M | $-89M | $-438M | $78M | $-442M | · | $-77M | $-6M | $158M | $44M | |
| Operating Cash Flow | $-198M | $-158M | $364M | $109M | $-303M | $-168M | $-391M | · | $-15M | $67M | $35M | $107M | |
| CapEx | $2M | $2M | $1M | $4M | $2M | $600.0K | $900.0K | · | $100.0K | $6M | $15M | $16M | |
| Investing Cash Flow | $3M | $7M | $300.0K | $1M | $1M | $5M | $-800.0K | · | $134M | $421M | $-60M | $-130M | |
| Debt Issued | · | · | · | · | · | · | $435M | · | $3M | $3M | $11M | $23M | |
| Net Debt Issued | · | · | · | · | · | · | $350M | · | $-7M | $-312M | $-47M | $-203M | |
| Stock Issued | $0 | $20M | $0 | $2M | $33M | $0 | $101M | · | $0 | · | · | · | |
| Stock Repurchased | · | · | · | · | · | · | · | · | $0 | $4M | $0 | $25M | |
| Net Stock Activity | $0 | $20M | $0 | $2M | $33M | $0 | $101M | · | $0 | $-4M | $0 | $-25M | |
| Financing Cash Flow | $92M | $16M | $-13M | $1M | $61M | $175M | $440M | · | $-22M | $-318M | $-48M | $469.0K | |
| Net Change in Cash | $-102M | $-135M | $351M | $111M | $-241M | $12M | $48M | · | $97M | $169M | $-74M | $-22M | |
| Taxes Paid | $31M | $46M | $45M | $42M | $4M | $-3M | $-2M | · | $-3M | $10M | $-4M | $18M | |
| Free Cash Flow | $-200M | $-161M | $363M | $105M | $-305M | $168M | $-392M | · | $-16M | $61M | $20M | $91M | |
| Levered FCF | · | · | · | · | · | $168M | $-392M | · | $-17M | $44M | $-20M | $71M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | · | · | · | · | · | · | · | 34.8% | 71.1% | -62.8% | 12.6% | |
| Net Margin | 10.1% | 13.5% | 11.6% | 11.8% | 8.3% | 6.5% | 7.7% | · | 44.0% | 29.7% | -81.2% | 5.4% | |
| Pretax Margin | 13.2% | 17.9% | 15.4% | 15.5% | 11.1% | 8.4% | 10.7% | · | 45.6% | 46.8% | -68.5% | 8.4% | |
| EBITDA Margin | 0.21% | 0.20% | 0.21% | 0.18% | 0.20% | 0.53% | 1.6% | · | 39.6% | 76.9% | -45.6% | 26.2% | |
| ROA | 5.6% | 7.7% | 6.9% | 8.1% | 5.7% | 3.8% | 2.8% | · | 6.7% | 6.9% | -19.0% | 1.4% | |
| ROE | 10.0% | 13.7% | 13.0% | 16.2% | 11.7% | 7.2% | 4.5% | · | 8.6% | 11.0% | -35.2% | 2.3% | |
| ROIC | · | · | · | · | · | · | · | · | 0.80% | 20.9% | -38.8% | 3.6% |
Liquidity & Solvency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Coverage | · | · | · | · | · | · | · | · | 4.7 | 7.0 | -4.8 | 1.3 |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.6 | 0.6 | 0.6 | 0.7 | 0.7 | 0.6 | 0.4 | · | 0.2 | 0.2 | 0.2 | 0.3 |
Growth Rates 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 10.1% | 5.1% | -5.4% | 14.6% | 42.3% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 3.0% | 4.4% | 15.5% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 12.3% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -17.8% | 20.1% | -7.2% | 59.6% | 78.6% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | -2.9% | 21.1% | 38.3% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 21.2% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -17.4% | 21.9% | -6.7% | 62.3% | 81.2% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | -2.1% | 22.7% | 40.0% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 22.5% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.66B | $1.51B | $1.44B | $1.52B | $1.33B | $932M | $428M | · | $114M | $197M | $219M | $238M | |
| Net Income TTM | $168M | $203M | $167M | $179M | $110M | $61M | $33M | · | $50M | $59M | $-213M | $17M | |
| Market Cap | $1.35B | $1.64B | $1.34B | $557M | $924M | $851M | $877M | · | · | · | · | · | |
| P/E | 8.1 | 8.1 | 8.1 | 3.1 | 8.3 | 14.0 | 23.1 | · | 18.5 | 9.6 | -1.8 | 40.5 | |
| P/S | 0.8 | 1.1 | 0.9 | 0.4 | 0.7 | 0.9 | 2.0 | · | · | · | · | · | |
| P/B | 0.8 | 1.0 | 1.0 | 0.5 | 0.9 | 1.0 | 1.1 | · | · | · | · | · | |
| P / Tangible Book | 0.8 | 1.0 | 1.0 | 0.5 | 0.9 | 1.0 | · | · | · | · | · | · | |
| P / Cash Flow | -6.8 | -10.4 | 3.7 | 5.1 | -3.0 | 5.1 | -2.2 | · | · | · | · | · | |
| P / FCF | -6.8 | -10.2 | 3.7 | 5.3 | -3.0 | 5.1 | -2.2 | · | · | · | · | · | |
| Earnings Yield | 12.4% | 12.4% | 12.4% | 32.1% | 12.1% | 7.1% | 4.3% | · | 5.4% | 10.4% | -56.9% | 2.5% |
Income Statement 11
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $407M | $374M | $273M | $670M | $390M | $351M | $250M | $551M | $318M | $334M | $306M | $550M | $369M | $302M | $217M | $381M | |
| Cost of Revenue | $323M | $294M | $218M | $521M | $311M | $272M | $195M | $420M | $247M | $251M | $233M | $434M | $284M | $246M | $169M | $292M | |
| SG&A Expense | $38M | $38M | $36M | $43M | $37M | $38M | $36M | $32M | $29M | $29M | $28M | $26M | $26M | $22M | $23M | $24M | |
| Pretax Income | $49M | $44M | $21M | $113M | $44M | $41M | $22M | $108M | $52M | $59M | $51M | $95M | $62M | $36M | $28M | $66M | |
| Income Tax | $13M | $12M | $5M | $26M | $11M | $9M | $5M | $27M | $13M | $14M | $13M | $23M | $16M | $9M | $7M | $16M | |
| Net Income | $36M | $32M | $15M | $87M | $33M | $32M | $16M | $82M | $39M | $45M | $38M | $72M | $47M | $27M | $21M | $51M | |
| EPS (Basic) | $0.70 | $0.63 | $0.30 | $1.71 | $0.65 | $0.62 | $0.32 | $1.61 | $0.76 | $0.90 | $0.76 | $1.44 | $0.94 | $0.54 | $0.42 | $1.02 | |
| EPS (Diluted) | $0.70 | $0.63 | $0.30 | $1.70 | $0.65 | $0.62 | $0.32 | $1.59 | $0.76 | $0.89 | $0.76 | $1.44 | $0.93 | $0.54 | $0.42 | $1.02 | |
| Shares (Basic) | 51,100,000 | 51,000,000 | 51,000,000 | -101,600,000 | 50,900,000 | 50,800,000 | 50,800,000 | -100,600,000 | 50,800,000 | 50,100,000 | 50,100,000 | -99,900,000 | 50,100,000 | 49,900,000 | 49,900,000 | -99,600,000 | |
| Shares (Diluted) | 51,300,000 | 51,200,000 | 51,200,000 | -102,000,000 | 51,000,000 | 51,000,000 | 51,100,000 | -101,400,000 | 51,100,000 | 50,600,000 | 50,500,000 | -100,000,000 | 50,200,000 | 50,000,000 | 49,900,000 | -99,700,000 | |
| EBITDA | · | · | $900.0K | · | · | · | $800.0K | · | · | · | $800.0K | · | · | · | $700.0K | · |
Balance Sheet 13
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $395M | $362M | $212M | $379M | $189M | $174M | $132M | $481M | $359M | $416M | $459M | · | $401M | $287M | $216M | · | |
| PP&E (Net) | $7M | $8M | $8M | $8M | $8M | $7M | $7M | $7M | $6M | $6M | $6M | · | $6M | $6M | $6M | · | |
| PP&E (Gross) | · | · | · | $13M | · | · | · | $11M | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | · | $5M | · | · | · | $4M | · | · | · | · | · | · | · | · | |
| Total Assets | $3.22B | $3.17B | $3.18B | $3.14B | $3.12B | $3.04B | $2.96B | $2.84B | $2.67B | $2.60B | $2.53B | · | $2.38B | $2.34B | $2.34B | · | |
| Deferred Tax | $93M | $84M | $87M | $86M | $78M | $75M | $67M | $68M | $53M | $51M | $50M | · | $34M | $36M | $35M | · | |
| Total Liabilities | $1.36B | $1.35B | $1.39B | $1.37B | $1.44B | $1.40B | $1.35B | $1.25B | $1.16B | $1.13B | $1.12B | · | $1.08B | $1.09B | $1.12B | · | |
| Long-term Debt | $794M | $794M | $793M | $803M | $873M | $872M | $807M | $706M | $706M | $706M | $705M | · | $707M | $707M | $706M | · | |
| Common Stock | $51M | $51M | $51M | $51M | $51M | $51M | $51M | $51M | $51M | $51M | $50M | · | $50M | $50M | $50M | · | |
| Retained Earnings | $1.13B | $1.09B | $1.06B | $1.05B | $959M | $926M | $895M | $878M | $797M | $758M | $713M | · | $602M | $556M | $529M | · | |
| Stockholders' Equity | $1.86B | $1.82B | $1.79B | $1.77B | $1.68B | $1.64B | $1.61B | $1.59B | $1.51B | $1.47B | $1.41B | · | $1.30B | $1.25B | $1.22B | · | |
| Liabilities + Equity | $3.22B | $3.17B | $3.18B | $3.14B | $3.12B | $3.04B | $2.96B | $2.84B | $2.67B | $2.60B | $2.53B | · | $2.38B | $2.34B | $2.34B | · | |
| Shares Outstanding | 51,008,733 | 51,008,733 | 50,885,325 | 50,833,171 | 50,823,800 | 50,823,800 | 50,669,946 | 50,653,637 | 50,607,995 | 50,602,722 | 49,909,713 | 49,903,713 | 49,903,713 | 49,897,709 | 49,772,555 | 49,761,480 |
Cash Flow 10
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $700.0K | $700.0K | $900.0K | $900.0K | $800.0K | $1M | $800.0K | $700.0K | $900.0K | $600.0K | $800.0K | $700.0K | $800.0K | $800.0K | $700.0K | $700.0K | |
| Stock-based Comp | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $1M | $2M | $900.0K | $900.0K | $900.0K | $2M | $600.0K | $500.0K | |
| Other Non-cash | · | · | $-176M | · | · | · | $-470M | · | · | · | $-197M | · | · | · | $-72M | · | |
| Operating Cash Flow | $33M | $152M | $-157M | $256M | $16M | $-20M | $-450M | $119M | $-62M | $-59M | $-157M | $228M | $115M | $71M | $-50M | $119M | |
| CapEx | $0 | $200.0K | $100.0K | $700.0K | $800.0K | $700.0K | $0 | $800.0K | $600.0K | $600.0K | $200.0K | $500.0K | $500.0K | $200.0K | $100.0K | $300.0K | |
| Investing Cash Flow | $0 | $-200.0K | $-100.0K | $4M | $-800.0K | $-700.0K | $900.0K | $4M | $4M | $-600.0K | $-200.0K | $-500.0K | $-500.0K | $-200.0K | $2M | $-300.0K | |
| Stock Issued | · | · | · | $0 | $0 | · | · | $0 | $0 | · | · | $0 | $0 | · | · | $0 | |
| Financing Cash Flow | $0 | $-1M | $-10M | $-70M | $-100.0K | $63M | $100M | $-800.0K | $200.0K | $17M | $-200.0K | $-12M | $-100.0K | $-600.0K | $-100.0K | $-100.0K | |
| Net Change in Cash | $33M | $150M | $-168M | $190M | $15M | $42M | $-349M | $122M | $-57M | $-43M | $-157M | $215M | $114M | $70M | $-48M | $118M | |
| Free Cash Flow | · | · | $-157M | · | · | · | $-450M | · | · | · | $-157M | · | · | · | $-50M | · |
Profitability 5
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 8.8% | 8.6% | 5.6% | · | 8.4% | 9.0% | 6.6% | · | 12.2% | 13.5% | 12.5% | · | 12.7% | 8.9% | 9.6% | · | |
| Pretax Margin | 12.0% | 11.7% | 7.6% | · | 11.2% | 11.6% | 8.8% | · | 16.2% | 17.6% | 16.7% | · | 16.9% | 11.9% | 12.9% | · | |
| EBITDA Margin | · | · | 0.33% | · | · | · | 0.32% | · | · | · | 0.26% | · | · | · | 0.32% | · | |
| ROA | 1.1% | 1.0% | 0.50% | · | 1.1% | 1.1% | 0.60% | · | 1.5% | 1.8% | 1.6% | · | 2.0% | 1.2% | 0.92% | · | |
| ROE | 2.0% | 1.8% | 0.91% | · | 2.1% | 2.0% | 1.1% | · | 2.8% | 3.3% | 2.9% | · | 3.8% | 2.3% | 1.8% | · |
Efficiency 1
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.2 | 0.1 | 0.1 | · |
Valuation (TTM) 10
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.44B | $1.39B | $1.26B | · | $1.31B | $1.25B | $1.21B | · | $1.33B | $1.31B | $1.19B | · | $1.20B | $1.25B | $1.35B | · | |
| Net Income TTM | $116M | $112M | $96M | · | $120M | $132M | $138M | · | $169M | $157M | $133M | · | $134M | $135M | $149M | · | |
| Market Cap | $1.61B | $1.25B | $1.25B | · | $1.02B | $1.07B | $1.31B | · | $1.62B | $2.03B | $1.65B | · | $1.13B | $776M | $767M | · | |
| P/E | 13.9 | 11.1 | 13.0 | · | 8.5 | 8.2 | 9.5 | · | 9.6 | 12.9 | 12.5 | · | 8.4 | 5.7 | 5.2 | · | |
| P/S | 1.1 | 0.9 | 1.0 | · | 0.8 | 0.9 | 1.1 | · | 1.2 | 1.6 | 1.4 | · | 0.9 | 0.6 | 0.6 | · | |
| P/B | 0.9 | 0.7 | 0.7 | · | 0.6 | 0.7 | 0.8 | · | 1.1 | 1.4 | 1.2 | · | 0.9 | 0.6 | 0.6 | · | |
| P / Tangible Book | 0.9 | 0.7 | 0.7 | · | 0.6 | 0.7 | 0.8 | · | 1.1 | 1.4 | 1.2 | · | 0.9 | 0.6 | 0.6 | · | |
| P / Cash Flow | · | · | -8.0 | · | · | · | -2.9 | · | · | · | -10.5 | · | · | · | -15.4 | · | |
| P / FCF | · | · | -8.0 | · | · | · | -2.9 | · | · | · | -10.5 | · | · | · | -15.4 | · | |
| Earnings Yield | 7.2% | 9.0% | 7.7% | · | 11.8% | 12.2% | 10.5% | · | 10.4% | 7.8% | 8.0% | · | 11.9% | 17.5% | 19.4% | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | |
|---|---|---|---|---|---|
| Revenue | $1.66B | $1.51B | $1.44B | $1.52B | $1.33B |
| Net Income | $168M | $203M | $167M | $179M | $110M |
| Diluted EPS | $3.29 | $4.00 | $3.33 | $3.59 | $2.25 |
Cash Flow
| 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-200M | $-161M | $363M | $105M | $-305M |
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Institutional owners (13F) 203 filers · $451.1M 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 |
|---|---|---|---|---|
| 42 (+10 vs prior Q) | 14 (-17 vs prior Q) | 57 (+8 vs prior Q) | 43 (0 vs prior Q) | +3.0M |
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 |
|---|---|---|---|---|
| DIMENSIONAL FUND ADVISORS LP | $86,624,689 | 2,736,957 | 19.20% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $56,780,322 | 1,794,007 | 12.59% | Shares |
| AMERICAN CENTURY COMPANIES INC | $29,969,417 | 946,901 | 6.64% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $27,976,195 | 883,924 | 6.20% | Shares |
| AMERIPRISE FINANCIAL INC | $17,962,324 | 567,530 | 3.98% | Shares |
| STATE STREET CORP | $15,047,233 | 475,426 | 3.34% | Shares |
| HEARTLAND ADVISORS INC | $15,027,831 | 474,813 | 3.33% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $15,020,789 | 474,469 | 3.33% | Shares |
| Swedbank AB | $14,242,500 | 450,000 | 3.16% | Shares |
| Woodson Capital Management, LP | $11,394,000 | 360,000 | 2.53% | Shares |
| DENALI ADVISORS LLC | $9,262,752 | 292,662 | 2.05% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $7,801,029 | 246,478 | 1.73% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $7,587,676 | 239,737 | 1.68% | Shares |
| FIRST TRUST ADVISORS LP | $6,576,743 | 207,796 | 1.46% | Shares |
| Oakum Bay Capital LLC | $6,391,720 | 261,527 | 1.42% | Shares |
| JANUS HENDERSON GROUP PLC | $6,286,184 | 256,842 | 1.39% | Shares |
| TWO SIGMA INVESTMENTS, LP | $5,289,316 | 167,119 | 1.17% | Shares |
| Empowered Funds, LLC | $5,269,029 | 166,478 | 1.17% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $5,164,710 | 163,182 | 1.14% | Shares |
| ALGERT GLOBAL LLC | $4,674,832 | 147,704 | 1.04% | Shares |
| BANK OF AMERICA CORP /DE/ | $4,196,441 | 132,589 | 0.93% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $4,141,592 | 130,856 | 0.92% | Shares |
| Bank of New York Mellon Corp | $3,897,571 | 123,146 | 0.86% | Shares |
| Moody Aldrich Partners LLC | $3,714,476 | 117,361 | 0.82% | Shares |
| ALLIANCEBERNSTEIN L.P. | $3,697,063 | 151,271 | 0.82% | Shares |
| MILLENNIUM MANAGEMENT LLC | $3,454,154 | 109,136 | 0.77% | Shares |
| VANGUARD GROUP INC | $3,155,596 | 128,120 | 0.70% | Shares |
| Invenomic Capital Management LP | $3,086,666 | 97,525 | 0.68% | Shares |
| MARTINGALE ASSET MANAGEMENT L P | $2,931,265 | 92,615 | 0.65% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $2,784,599 | 87,981 | 0.62% | Shares |
| SANDLER CAPITAL MANAGEMENT | $2,507,376 | 79,222 | 0.56% | Shares |
| SEB Asset Management AB | $2,123,711 | 67,100 | 0.47% | Shares |
| Point72 Asset Management, L.P. | $1,999,647 | 63,180 | 0.44% | Shares |
| Man Group plc | $1,972,555 | 62,324 | 0.44% | Shares |
| Allianz Asset Management GmbH | $1,818,140 | 74,392 | 0.40% | Shares |
| NewEdge Wealth, LLC | $1,816,394 | 57,390 | 0.40% | Shares |
| HUSSMAN STRATEGIC ADVISORS, INC. | $1,661,625 | 52,500 | 0.37% | Shares |
| TWO SIGMA ADVISERS, LP | $1,620,186 | 65,781 | 0.36% | Shares |
| PDT Partners, LLC | $1,562,750 | 49,376 | 0.35% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $1,456,438 | 46,017 | 0.32% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $1,360,349 | 42,981 | 0.30% | Shares |
| Quantinno Capital Management LP | $1,355,664 | 42,833 | 0.30% | Shares |
| GOLDMAN SACHS GROUP INC | $1,328,445 | 41,973 | 0.29% | Shares |
| MORGAN STANLEY | $1,264,038 | 39,938 | 0.28% | Shares |
| Y-Intercept (Hong Kong) Ltd | $1,243,054 | 39,275 | 0.28% | Shares |
| RHUMBLINE ADVISERS | $1,223,895 | 38,669 | 0.27% | Shares |
| Swiss National Bank | $1,212,733 | 38,317 | 0.27% | Shares |
| Vanguard Global Advisers, LLC | $1,169,499 | 36,951 | 0.26% | Shares |
| DEUTSCHE BANK AG\ | $1,091,514 | 34,487 | 0.24% | Shares |
| Trexquant Investment LP | $1,067,808 | 33,738 | 0.24% | Shares |
| KLP KAPITALFORVALTNING AS | $981,150 | 31,000 | 0.22% | Shares |
| PRUDENTIAL FINANCIAL INC | $963,015 | 30,427 | 0.21% | Shares |
| ExodusPoint Capital Management, LP | $960,388 | 30,344 | 0.21% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $922,281 | 29,140 | 0.20% | Shares |
| NewEdge Advisors, LLC | $861,705 | 27,226 | 0.19% | Shares |
| GLENMEDE TRUST CO NA | $856,195 | 27,052 | 0.19% | Shares |
| Total Wealth Planning & Management, Inc. | $853,062 | 26,953 | 0.19% | Shares |
| LEE DANNER & BASS INC | $846,479 | 26,745 | 0.19% | Shares |
| Susquehanna Portfolio Strategies, LLC | $780,109 | 24,648 | 0.17% | Shares |
| PICTON MAHONEY ASSET MANAGEMENT | $756,878 | 23,914 | 0.17% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $723,456 | 22,858 | 0.16% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $719,594 | 22,736 | 0.16% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $715,923 | 22,620 | 0.16% | Shares |
| SummitTX Capital, L.P. | $715,258 | 22,599 | 0.16% | Shares |
| Squarepoint Ops LLC | $706,365 | 22,318 | 0.16% | Shares |
| ARISTEIA CAPITAL, L.L.C. | $689,717 | 21,792 | 0.15% | Shares |
| IEQ CAPITAL, LLC | $680,475 | 21,500 | 0.15% | Shares |
| XTX Topco Ltd | $559,287 | 17,671 | 0.12% | Shares |
| Dynamic Technology Lab Private Ltd | $554,000 | 17,515 | 0.12% | Shares |
| Mariner, LLC | $528,717 | 16,705 | 0.12% | Shares |
| CITADEL ADVISORS LLC | $525,390 | 16,600 | 0.12% | Call option |
| SHUFRO ROSE & CO LLC | $506,400 | 16,000 | 0.11% | Shares |
| Glenmede Investment Management, LP | $475,774 | 17,893 | 0.11% | Shares |
| EntryPoint Capital, LLC | $475,510 | 15,024 | 0.11% | Shares |
| BlackRock, Inc. | $455,190 | 14,382 | 0.10% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $452,311 | 18,507 | 0.10% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $445,759 | 14,084 | 0.10% | Shares |
| D. E. Shaw & Co., Inc. | $441,676 | 13,955 | 0.10% | Shares |
| FMR LLC | $429,111 | 13,558 | 0.10% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $426,674 | 13,481 | 0.09% | Shares |
| CWM, LLC | $425,232 | 17,399 | 0.09% | Shares |
| KTF INVESTMENTS, LLC | $411,450 | 13,000 | 0.09% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $390,864 | 12,811 | 0.09% | Shares |
| MetLife Investment Management, LLC | $388,852 | 12,286 | 0.09% | Shares |
| R Squared Ltd | $369,134 | 11,663 | 0.08% | Shares |
| Engineers Gate Manager LP | $344,036 | 10,870 | 0.08% | Shares |
| Aquatic Capital Management LLC | $338,813 | 10,705 | 0.08% | Shares |
| CITADEL ADVISORS LLC | $335,712 | 10,607 | 0.07% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $325,394 | 10,281 | 0.07% | Shares |
| COMMERCE BANK | $320,614 | 10,130 | 0.07% | Shares |
| Sterling Capital Management LLC | $316,373 | 9,996 | 0.07% | Shares |
| Mitsubishi UFJ Trust & Banking Corp | $293,775 | 9,282 | 0.07% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $293,585 | 9,276 | 0.07% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $288,110 | 9,103 | 0.06% | Shares |
| STALEY CAPITAL ADVISERS INC | $285,040 | 1,750 | 0.06% | Shares |
| JBF Capital, Inc. | $284,850 | 9,000 | 0.06% | Shares |
| LPL Financial LLC | $272,538 | 8,611 | 0.06% | Shares |
| EVERGREEN CAPITAL MANAGEMENT LLC | $268,108 | 8,471 | 0.06% | Shares |
| Vanguard Personalized Indexing Management, LLC | $253,960 | 8,024 | 0.06% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $250,035 | 7,900 | 0.06% | Call option |
Company insiders 41 insiders · 16 officers · 25 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Anthony W Oxley | Chief Executive Officer | March 28, 2025 M | 6,227 | 0 | 0 | $0 |
| Daniel C Bartok | Chief Executive Officer | Dec. 27, 2023 S | 20,000 | 0 | 0 | $0 |
| Phillip J Weber | Chief Executive Officer | Oct. 5, 2017 D | 8,660 | 0 | 0 | $0 |
| James M Decosmo | CEO - President | Feb. 14, 2015 M | 132,160 | 0 | 0 | $0 |
| James Douglas Allen | Chief Financial Officer | March 31, 2025 M | 48,928 | 0 | 0 | $0 |
| Charles D Jehl | Chief Financial Officer | May 6, 2019 A | 25,918 | 0 | 0 | $0 |
| Christopher L Nines | Chief Financial Officer | Feb. 14, 2015 M | 51,957 | 0 | 0 | $0 |
| Michael J. Quinley | President | Oct. 5, 2017 D | 4,428 | 0 | 0 | $0 |
| Mark Stephen Walker | Chief Operating Officer | March 31, 2025 M | 19,320 | 0 | 0 | $0 |
| Donald J Tomnitz | Executive Chairman | March 31, 2025 M | 124,339 | 0 | 0 | $0 |
| Sabita C. Reddy | Vice President - Accounting | March 16, 2017 F | 3,185 | 0 | 0 | $0 |
| Bruce Fairchild Dickson | Chief Real Estate Officer | Feb. 12, 2016 M | 33,579 | 0 | 0 | $0 |
| Flavious J. Smith Jr. | Chief Oil and Gas Officer | Nov. 11, 2014 M | 49,916 | 0 | 0 | $0 |
| Charles T Etheredge JR | Executive Vice President | March 25, 2013 M | 35,621 | 0 | 0 | $0 |
| Charles J. Portwood | Sr. Vice President - Land Mgmt | March 8, 2013 M | 19,871 | 0 | 0 | $0 |
| Craig A Knight | Chief RE Investment Officer | Sept. 30, 2012 D | 48,723 | 0 | 0 | $0 |
| Lisa H. Jamieson | Director | March 31, 2025 M | 21,859 | 0 | 0 | $0 |
| Samuel R Fuller | Director | March 31, 2025 M | 27,359 | 0 | 0 | $0 |
| Elizabeth Parmer | Director | March 28, 2025 M | 4,817 | 0 | 0 | $0 |
| Kellie L Fischer | Director | Nov. 20, 2024 A | — | 0 | 0 | $0 |
| George W Seagraves | Director | Nov. 20, 2024 A | — | 0 | 0 | $0 |
| G.F. (Rick) Ringler III | Director | Oct. 28, 2024 M | 16,260 | 0 | 0 | $0 |
| Donald C Spitzer | Director | Feb. 21, 2023 M | 22,767 | 0 | 0 | $0 |
| Ashton M Hudson | Director | May 6, 2019 A | 29,742 | 0 | 0 | $0 |
| Richard D. Squires | Director | Oct. 5, 2017 D | 548 | 0 | 0 | $0 |
| Daniel B. Silvers | Director | Oct. 5, 2017 D | 22 | 0 | 0 | $0 |
| Richard M Smith | Director | Oct. 5, 2017 D | 0 | 0 | 0 | $0 |
| James A Rubright | Director | Oct. 5, 2017 D | 8 | 0 | 0 | $0 |
| William Powers JR | Director | May 9, 2017 M | 77,239 | 0 | 0 | $0 |
| William G Currie | Director | Aug. 9, 2016 A | 69,607 | 0 | 0 | $0 |
| Kathleen Brown | Director | Nov. 19, 2015 A | 53,702 | 0 | 0 | $0 |
| JOHNSON JAMES A /DC/ | Director | Nov. 19, 2015 A | 68,312 | 0 | 0 | $0 |
| Michael E Dougherty | Director | Nov. 10, 2015 A | 56,866 | 0 | 0 | $0 |
| Carl A Thomason | Director | Feb. 10, 2015 A | 38,497 | 0 | 0 | $0 |
| David L. Weinstein | Director | Feb. 10, 2015 A | 29,405 | 0 | 0 | $0 |
| Kenneth M Jastrow II | Director | Feb. 10, 2015 A | 270,160 | 0 | 0 | $0 |
| Charles W Matthews | Director | Aug. 14, 2012 A | 40,484 | 0 | 0 | $0 |
| Louis Brill | Director | May 8, 2012 A | 19,462 | 0 | 0 | $0 |
| Thomas H Mcauley | Director | Feb. 9, 2010 A | 9,514 | 0 | 0 | $0 |
| TEMPLE INLAND INC | 10% owner | Dec. 14, 2007 J | 0 | 0 | 0 | $0 |
| David M Grimm | — | March 16, 2017 F | 81,845 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 6 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 |
|---|---|---|---|---|---|
| Double Black Diamond Offshore Ltd., Black Diamond Offshore Ltd., Carlson Capital, L.P., Asgard Investment Corp. II, Asgard Investment Corp., Clint D. Carlson ×8 filings | Dec. 7, 2016 | — | Initial filing | Passive investment | SEC |
| Cove Street Capital, LLC, Jeffrey Bronchick ×2 filings | Feb. 8, 2016 | — | Initial filing | — | SEC |
| JCP Investment Partnership, LP, JCP Investment Partners, LP, JCP Investment Holdings, LLC, JCP Investment Management, LLC, James C. Pappas, BLR Partners LP, BLRPart, LP, BLRGP Inc., Fondren Management, LP, FMLP Inc., Bradley L. Radoff, Joshua E. Schechter ×2 filings | Dec. 8, 2015 | — | Initial filing | — | SEC |
| SpringOwl Associates LLC, Daniel Silvers, Andrew Nelson, Laura Conover, Barry Konig, Cove Street Capital, LLC ×3 filings | Feb. 10, 2015 | — | Initial filing | — | SEC |
| Forestar Group Inc. | June 4, 2012 | — | Initial filing | M&A / sale | SEC |
| Holland M. Ware, David C. Cook ×3 filings | Feb. 12, 2009 | — | 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 57 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 |
|---|---|---|---|---|
| FYT · First Trust Exchange-Traded AlphaDE… | 0.69% | 44,710 NS | April 30, 2026 | N-PORT |
| ESSC · Strategy Shares | 0.42% | 3,827 NS | April 30, 2026 | N-PORT |
| SVAL · iShares Trust | 0.39% | 27,860 SH | Aug. 8, 2026 | Daily |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.33% | 142,031 NS | April 30, 2026 | N-PORT |
| AFSM · First Trust Exchange-Traded Fund VI… | 0.27% | 9,654 NS | May 31, 2026 | N-PORT |
| BSJS · Invesco Exchange-Traded Self-Indexe… | 0.26% | 1,926,000 | Aug. 8, 2026 | Daily |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.14% | 6,911 NS | April 30, 2026 | N-PORT |
| VFVA · VANGUARD WELLINGTON FUND | 0.11% | 29,721 SH | Aug. 8, 2026 | Daily |
| DFSV · Dimensional ETF Trust | 0.10% | 258,589 NS | April 30, 2026 | N-PORT |
| AVUV · AMERICAN CENTURY ETF TRUST | 0.08% | 775,378 NS | May 31, 2026 | N-PORT |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.07% | 6,669 SH | Aug. 8, 2026 | Daily |
| DFAT · Dimensional ETF Trust | 0.06% | 312,501 NS | April 30, 2026 | N-PORT |
| FREL · FIDELITY COVINGTON TRUST | 0.05% | 25,291 NS | April 30, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.04% | 17,238 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.04% | 39,368 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.04% | 185,006 NS | April 30, 2026 | N-PORT |
| IWN · iShares Trust | 0.04% | 181,502 SH | Aug. 8, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.03% | 4,378 NS | April 30, 2026 | N-PORT |
| VNQ · VANGUARD SPECIALIZED FUNDS | 0.03% | 726,036 SH | Aug. 8, 2026 | Daily |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.02% | 6,363 NS | April 30, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.02% | 22,499 SH | Aug. 8, 2026 | Daily |
| BSMT · Invesco Exchange-Traded Self-Indexe… | 0.02% | 55,000 | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.02% | 113,747 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.02% | 510,359 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.02% | 8,420 NS | April 30, 2026 | N-PORT |
| ROSC · Lattice Strategies Trust | 0.02% | 309 NS | April 30, 2026 | N-PORT |
| ISCV · iShares Trust | 0.01% | 3,584 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.01% | 909 NS | May 31, 2026 | N-PORT |
| BSMS · Invesco Exchange-Traded Self-Indexe… | 0.01% | 35,000 | Aug. 8, 2026 | Daily |
| PZA · Invesco Exchange-Traded Fund Trust … | 0.01% | 455,000 | Aug. 8, 2026 | Daily |
| SCHA · SCHWAB STRATEGIC TRUST | 0.01% | 93,842 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 221,210 SH | Aug. 8, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.01% | 466,639 SH | Aug. 8, 2026 | Daily |
| VBR · VANGUARD INDEX FUNDS | 0.01% | 297,185 SH | Aug. 8, 2026 | Daily |
| BSMU · Invesco Exchange-Traded Self-Indexe… | 0.01% | 25,000 | Aug. 8, 2026 | Daily |
| TEXN · iShares Trust | 0.01% | 56 SH | Aug. 8, 2026 | Daily |
| TILT · FlexShares Trust | 0.01% | 5,837 NS | April 30, 2026 | N-PORT |
| UWM · ProShares Trust | 0.01% | 712 NS | May 31, 2026 | N-PORT |
| ISCB · iShares Trust | 0.01% | 752 SH | Aug. 8, 2026 | Daily |
| WSML · iShares Trust | 0.01% | 1,706 SH | Aug. 8, 2026 | Daily |
| AVSU · AMERICAN CENTURY ETF TRUST | 0.01% | 1,016 NS | May 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.01% | 90,686 NS | April 30, 2026 | N-PORT |
| URTY · ProShares Trust | 0.01% | 722 NS | May 31, 2026 | N-PORT |
| DFUV · Dimensional ETF Trust | 0.00% | 24,926 NS | April 30, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 3,063 NS | April 30, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 4,233 NS | April 30, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 12,774 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 637 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 18 NS | May 31, 2026 | N-PORT |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.00% | 7,848 NS | May 31, 2026 | N-PORT |