GSHD Goosehead Insurance, Inc. - Class A Common Stock
$68.05
Price · Aug 19, 2026
Fundamentals as of Jul 23, 2026
52W Range
$34–$89
62% of range
Analyst Rating
BUY
19 analysts
Price Target
$69
+1% upside
P/E (TTM)
70.8
ROE
-107.8%
Net Profit Margin
7.6%
GSHD Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$68.05
Market Cap
—
P/E (TTM)
70.8
EPS (TTM)
$1.04
Revenue (TTM)
$365M
Div Yield
—
ROE
-107.8%
Debt/Equity
-3.1
52W Range
$34 – $89
GSHD Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$365M
2019-12-31
→
2025-12-31
EPS
$1.04
2019-12-31
→
2025-12-31
Free Cash Flow
$86M
2019-12-31
→
2025-12-31
Margins
7.6%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
GSHD
Peer Median
P/E (TTM)
70.8
40.4
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
GSHD
Peer Median
Operating Margin
20.4%
—
Net Profit Margin
7.6%
6.4%
ROA
6.9%
3.2%
ROE
-107.8%
10.1%
ROIC
32.6%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
GSHD
Peer Median
Debt / Equity
-3.1
—
Current Ratio
1.6
1.1
Quick Ratio
0.6
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
GSHD
Peer Median
Revenue YoY
16.2%
—
Revenue CAGR 3Y
20.4%
—
Revenue CAGR 5Y
25.6%
—
EPS YoY
-10.3%
—
Net Income YoY
-8.5%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
GSHD
Peer Median
Payout Ratio
523.8%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
—
Payout Ratio
523.8%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| Jan. 21, 2025 | $5.9100 |
| Aug. 6, 2021 | $1.6300 |
| Aug. 7, 2020 | $1.1490 |
| March 15, 2019 | $0.4100 |
GSHD Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
19 analysts
- Strong Buy 3 15.8%
- Buy 8 42.1%
- Hold 7 36.8%
- Sell 1 5.3%
- Strong Sell 0 0.0%
12-Month Price Target
12 analysts · 2026-08-19
Median
$72.00
Now
$68.05
Low
$44.00
High
$100.00
Median target
$72.00
+5.8%
Mean target
$68.92
+1.3%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.06%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.64 | $0.49 | 0.15% |
| March 31, 2026 | $0.37 | $0.21 | 0.16% |
| Dec. 31, 2025 | $0.64 | $0.59 | 0.05% |
| Sept. 30, 2025 | $0.46 | $0.47 | -0.01% |
| June 30, 2025 | $0.49 | $0.51 | -0.02% |
| March 31, 2025 | $0.26 | $0.22 | 0.04% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| GSHD | — | 70.8 | 16.2% | 7.6% | -107.8% | — |
| AJG | $66.51B | 45.1 | 20.7% | 10.7% | 6.9% | — |
| BRO | $26.78B | 25.2 | 22.8% | 17.9% | 8.7% | — |
| RYAN | — | — | 21.3% | 2.1% | 9.9% | — |
| HGTY | — | — | 17.3% | 10.2% | 80.3% | — |
| BWIN | — | -48.1 | 8.3% | -2.2% | -5.7% | — |
| LIFE | — | — | 52.0% | 18.4% | -108.4% | — |
| TWFG | — | 54.3 | 22.0% | — | — | — |
| ABX | $833M | 23.8 | 110.2% | 15.5% | 8.8% | 87.7% |
| SLQT | $411M | 238.0 | 15.5% | 3.1% | 14.1% | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $365M | $315M | $261M | $209M | $151M | $117M | $77M | $60M | $43M | |
| SG&A Expense | $81M | $67M | $62M | $53M | $40M | $25M | $19M | $13M | $9M | |
| Operating Expenses | $291M | $253M | $228M | $199M | $143M | $97M | $63M | $74M | $35M | |
| Operating Income | $74M | $61M | $33M | $10M | $9M | $20M | $14M | $-14M | $8M | |
| Interest Expense | · | · | $7M | $5M | $3M | $2M | $2M | $4M | $2M | |
| Other Non-op | $192.0K | $-7M | $0 | $0 | $185.0K | $90.0K | $0 | $-22.0K | $4M | |
| Pretax Income | $51M | $47M | $26M | $5M | $6M | $18M | $12M | $-18M | $9M | |
| Income Tax | $6M | $-2M | $3M | $2M | $-2M | $-1M | $1M | $449.0K | $0 | |
| Net Income | $28M | $30M | $14M | $565.0K | $5M | $9M | $4M | $-9M | $0 | |
| EPS (Basic) | $1.11 | $1.23 | $0.59 | $0.03 | $0.28 | $0.55 | $0.24 | $-0.66 | · | |
| EPS (Diluted) | $1.04 | $1.16 | $0.55 | $0.03 | $0.26 | $0.51 | $0.22 | $-0.66 | · | |
| Shares (Basic) | 24,975,000 | 24,657,000 | 23,929,000 | 20,995,000 | 19,181,000 | 16,785,000 | 14,864,000 | 13,554,000 | · | |
| Shares (Diluted) | 38,103,000 | 38,301,000 | 38,356,000 | 21,773,000 | 20,813,000 | 18,383,000 | 16,100,000 | 13,554,000 | · | |
| EBITDA | $86M | $72M | $42M | $17M | $14M | $24M | $16M | $-11M | · |
Balance Sheet 22
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $34M | $54M | $42M | $29M | $29M | $25M | $14M | $19M | $5M | |
| Prepaid Expense | $8M | $8M | $8M | $4M | $5M | $4M | $2M | $1M | $521.0K | |
| Other Current Assets | · | · | · | · | · | · | · | $0 | $0 | |
| Current Assets | $93M | $109M | $75M | $54M | $50M | $51M | $27M | $23M | $8M | |
| PP&E (Net) | $22M | $24M | $30M | $35M | $25M | $17M | $10M | $8M | $7M | |
| PP&E (Gross) | $55M | $52M | $53M | $51M | $37M | $25M | $15M | $11M | $9M | |
| Accum. Depreciation | $34M | $28M | $23M | $15M | $12M | $8M | $5M | $3M | $3M | |
| Intangibles | $40M | $25M | $17M | $4M | $3M | $549.0K | $445.0K | $248.0K | $216.0K | |
| Other Non-current Assets | $7M | $6M | $4M | $4M | $5M | $4M | $1M | $130.0K | $565.0K | |
| Total Assets | $415M | $398M | $355M | $321M | $270M | $186M | $65M | $35M | $17M | |
| Accounts Payable | $34M | $23M | $16M | $16M | $13M | $8M | $5M | $4M | $3M | |
| Short-term Debt | $3M | · | · | · | · | · | · | · | · | |
| Current Liabilities | $58M | $46M | $41M | $37M | $30M | $20M | $13M | $8M | $6M | |
| Capital Leases | $51M | $55M | $57M | $65M | $47M | $33M | · | · | · | |
| Deferred Tax | · | · | · | · | · | · | · | · | $0 | |
| Total Liabilities | $578M | $359M | $338M | $355M | $339M | $224M | $96M | $60M | $58M | |
| Long-term Debt | $292M | $92M | $77M | $94M | $123M | $83M | $36M | $48M | $49M | |
| Total Debt | $295M | $92M | $77M | $94M | $123M | $83M | $46M | $48M | · | |
| Paid-in Capital | $37M | $59M | $73M | $71M | $46M | $29M | $14M | $12M | $0 | |
| Retained Earnings | $-133M | $-15M | $-46M | $-61M | $-61M | $-35M | $-24M | $-21M | $0 | |
| Stockholders' Equity | $-96M | $44M | $28M | $11M | $-14M | $-5M | $-9M | $-8M | $-41M | |
| Liabilities + Equity | $415M | $398M | $355M | $321M | $270M | $186M | $65M | $35M | $17M |
Cash Flow 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $11M | $11M | $9M | $7M | $5M | $4M | $2M | $3M | $876.0K | |
| Stock-based Comp | $23M | $28M | $24M | $20M | $7M | $5M | $2M | $27M | $0 | |
| Deferred Tax | $6M | $-4M | $-22M | $-22M | $-43M | $-49M | $-11M | $-2M | $0 | |
| Amort. of Intangibles | $5M | $3M | $2M | $800.0K | $400.0K | $300.0K | $200.0K | $117.0K | $66.0K | |
| Other Non-cash | $23M | $6M | $25M | $31M | $61M | $56M | $25M | $-9M | · | |
| Operating Cash Flow | $92M | $72M | $51M | $36M | $35M | $25M | $21M | $10M | $14M | |
| CapEx | $6M | $979.0K | $4M | $10M | $13M | $10M | $4M | $2M | $6M | |
| Investing Cash Flow | $-24M | $-12M | $-19M | $-13M | $-15M | $-10M | $-4M | $-2M | $-6M | |
| Stock Repurchased | $82M | $63M | $0 | $0 | · | · | · | · | · | |
| Net Stock Activity | $-82M | $-63M | · | · | · | · | · | · | · | |
| Dividends Paid | $146M | $0 | $0 | $0 | $60M | $45M | $19M | $80M | $26M | |
| Financing Cash Flow | $-88M | $-45M | $-18M | $-24M | $-16M | $-3M | $-21M | $6M | $-6M | |
| Net Change in Cash | $-20M | $14M | $14M | $-92.0K | $4M | $11M | $-4M | $14M | $1M | |
| Taxes Paid | $929.0K | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $86M | $71M | $46M | $26M | $23M | $15M | $18M | $8M | · | |
| Levered FCF | · | · | $40M | $23M | $19M | $12M | $15M | $4M | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 20.4% | 19.4% | 12.6% | 4.8% | 5.7% | 17.0% | 18.2% | -23.2% | · | |
| Net Margin | 7.6% | 9.7% | 5.4% | 0.27% | 3.6% | 7.9% | 4.6% | -14.8% | · | |
| Pretax Margin | 13.9% | 14.8% | 10.1% | 2.5% | 4.0% | 15.1% | 15.1% | -30.3% | · | |
| EBITDA Margin | 23.5% | 22.9% | 16.2% | 8.2% | 9.1% | 20.1% | 20.9% | -19.0% | · | |
| ROA | 6.9% | 8.1% | 4.2% | 0.19% | 2.4% | 6.1% | 6.5% | -27.0% | · | |
| ROE | -107.8% | 84.7% | 42.1% | -33.7% | -57.2% | -133.8% | -40.8% | -43.0% | · | |
| ROIC | 32.6% | 47.2% | 22.2% | 5.0% | 11.0% | 27.1% | 33.7% | -10.9% | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.6 | 2.3 | 1.8 | 1.5 | 1.7 | 2.5 | 2.0 | 2.9 | · | |
| Quick Ratio | 0.6 | 1.2 | 1.0 | 0.8 | 1.0 | 1.2 | 1.1 | 2.4 | · | |
| Debt / Equity | -3.1 | 2.1 | 1.4 | 8.8 | -8.8 | -17.0 | -5.1 | 0.6 | · | |
| LT Debt / Equity | -3.0 | 1.9 | 1.2 | 8.1 | -8.4 | -16.3 | -4.7 | 0.6 | · | |
| Interest Coverage | · | · | 5.0 | 2.0 | 3.0 | 8.6 | 5.9 | -3.3 | · |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.9 | 0.8 | 0.8 | 0.7 | 0.7 | 0.8 | 1.4 | 1.8 | · |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 16.2% | 20.4% | 24.8% | 38.4% | 29.3% | · | · | · | · | |
| Revenue CAGR 3Y | 20.4% | 27.6% | 30.7% | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 25.6% | · | · | · | · | · | · | · | · | |
| EPS YoY | -10.3% | 110.9% | 1733.3% | -88.5% | -49.0% | · | · | · | · | |
| EPS CAGR 3Y | 226.1% | 64.6% | 2.5% | · | · | · | · | · | · | |
| EPS CAGR 5Y | 15.3% | · | · | · | · | · | · | · | · | |
| Net Income YoY | -8.5% | 115.2% | 2402.6% | -89.5% | -41.8% | · | · | · | · | |
| Net Income CAGR 3Y | 266.6% | 77.9% | 15.0% | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 24.6% | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 26.7% | · | · | · | · | · | · | · | · |
Valuation (TTM) 6
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $365M | $315M | $261M | $209M | $151M | $117M | $77M | $60M | · | |
| Net Income TTM | $28M | $30M | $14M | $565.0K | $5M | $9M | $4M | $-9M | · | |
| P/E | 70.8 | 92.4 | 137.8 | 1144.7 | 500.3 | 244.6 | 192.7 | -39.8 | · | |
| Earnings Yield | 1.4% | 1.1% | 0.73% | 0.09% | 0.20% | 0.41% | 0.52% | -2.5% | · | |
| Payout Ratio | 523.8% | · | 0.00% | 0.00% | 1110.5% | 481.3% | 525.3% | -899.2% | · | |
| Annual Payout | $146M | $0 | $0 | $0 | $60M | $45M | $19M | $80M | · |
Income Statement 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $113M | $93M | $105M | $90M | $94M | $76M | $94M | $78M | $78M | $64M | $63M | $71M | $69M | $58M | $57M | $58M | |
| SG&A Expense | $28M | $24M | $22M | $17M | $25M | $18M | $18M | $15M | $17M | $17M | $14M | $15M | $17M | $16M | $14M | $13M | |
| Operating Expenses | $87M | $78M | $74M | $69M | $78M | $69M | $66M | $62M | $63M | $63M | $56M | $57M | $58M | $56M | $51M | $54M | |
| Operating Income | $27M | $15M | $31M | $21M | $16M | $7M | $28M | $16M | $15M | $1M | $7M | $14M | $11M | $1M | $7M | $4M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $1M | · | $2M | $2M | $2M | · | $1M | |
| Other Non-op | $260.0K | $267.0K | $-582.0K | $-209.0K | $815.0K | $168.0K | $-1M | $544.0K | $441.0K | $-7M | $0 | $0 | $0 | · | $0 | $0 | |
| Pretax Income | $21M | $10M | $25M | $15M | $10M | $959.0K | $25M | $15M | $14M | $-7M | $5M | $12M | $9M | $-262.0K | $5M | $2M | |
| Income Tax | $4M | $2M | $4M | $2M | $2M | $-2M | $859.0K | $2M | $3M | $-9M | $-252.0K | $724.0K | $2M | $-81.0K | $3M | $-666.0K | |
| Net Income | $10M | $5M | $12M | $8M | $5M | $2M | $15M | $8M | $6M | $2M | $4M | $7M | $4M | $-81.0K | $501.0K | $2M | |
| EPS (Basic) | · | · | $0.51 | $0.31 | $0.20 | $0.09 | $0.60 | $0.31 | $0.25 | $0.07 | $0.15 | $0.29 | $0.15 | $0.00 | $0.03 | $0.09 | |
| EPS (Diluted) | · | · | $0.48 | $0.29 | $0.18 | $0.09 | $0.58 | $0.29 | $0.24 | $0.05 | $0.12 | $0.28 | $0.15 | $0.00 | $0.03 | $0.09 | |
| Shares (Basic) | 23,718,000 | 24,269,000 | -50,181,000 | 25,149,000 | 25,216,000 | 24,791,000 | -49,416,000 | 24,293,000 | 24,693,000 | 25,087,000 | -47,090,000 | 24,124,000 | 23,689,000 | 23,206,000 | -40,591,000 | 20,892,000 | |
| Shares (Diluted) | 35,710,000 | 36,640,000 | -64,407,000 | 38,014,000 | 38,553,000 | 25,943,000 | -76,511,000 | 37,942,000 | 38,031,000 | 38,839,000 | -34,074,000 | 24,891,000 | 24,333,000 | 23,206,000 | -41,281,000 | 21,569,000 | |
| EBITDA | $27M | $18M | · | $21M | $16M | $10M | · | $16M | $15M | $4M | · | $14M | $11M | $4M | · | · |
Balance Sheet 20
| 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 | $24M | $26M | $34M | $52M | $92M | $70M | $54M | $48M | $24M | $51M | $42M | $35M | $19M | $25M | $29M | $46M | |
| Prepaid Expense | $15M | $14M | $8M | $14M | $18M | $22M | $8M | $6M | $7M | $6M | · | $9M | $12M | $13M | · | $6M | |
| Current Assets | $85M | $73M | $93M | $93M | $135M | $115M | $109M | $77M | $53M | $77M | · | $68M | $53M | $55M | · | $68M | |
| PP&E (Net) | $22M | $22M | $22M | $22M | $22M | $23M | $24M | $25M | $27M | $29M | · | $32M | $33M | $37M | · | $35M | |
| PP&E (Gross) | $59M | $58M | $55M | $55M | $54M | $53M | $52M | $53M | $53M | $53M | · | $52M | $52M | $54M | · | $49M | |
| Accum. Depreciation | $37M | $35M | $34M | $33M | $32M | $29M | $28M | $28M | $26M | $24M | · | $21M | $19M | $17M | · | $14M | |
| Intangibles | $48M | $44M | $40M | $34M | $30M | $27M | $25M | $23M | $21M | $19M | · | $15M | $12M | $5M | · | $4M | |
| Other Non-current Assets | $9M | $7M | $7M | $6M | $6M | $6M | $6M | $5M | $4M | $5M | · | $4M | $4M | $5M | · | $5M | |
| Total Assets | $407M | $393M | $415M | $404M | $437M | $413M | $398M | $358M | $338M | $366M | · | $341M | $323M | $322M | · | $324M | |
| Accounts Payable | $30M | $31M | $34M | $25M | $23M | $20M | $23M | $19M | $16M | $15M | · | $15M | $14M | $14M | · | $14M | |
| Short-term Debt | · | · | $3M | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Current Liabilities | $55M | $56M | $58M | $48M | $46M | $41M | $46M | $49M | $46M | $44M | · | $39M | $38M | $37M | · | $35M | |
| Capital Leases | $46M | $49M | $51M | $51M | $52M | $53M | $55M | $50M | $53M | $55M | · | $60M | $62M | $62M | · | $64M | |
| Total Liabilities | $595M | $597M | $578M | $574M | $567M | $558M | $359M | $356M | $358M | $338M | · | $336M | $337M | $348M | · | $370M | |
| Long-term Debt | $317M | $318M | $292M | $293M | $293M | $293M | $92M | $95M | $97M | $75M | · | $79M | $81M | $92M | · | $120M | |
| Total Debt | $317M | $318M | · | $293M | $293M | $293M | · | $95M | $97M | $75M | · | $79M | $81M | $92M | · | · | |
| Paid-in Capital | $6M | $7M | $37M | $40M | $75M | $70M | $59M | $89M | $78M | $112M | · | $97M | $87M | $78M | · | $67M | |
| Retained Earnings | $-118M | $-128M | $-133M | $-146M | $-154M | $-159M | $-15M | $-31M | $-38M | $-45M | · | $-51M | $-58M | $-61M | · | $-61M | |
| Stockholders' Equity | $-112M | $-121M | $-96M | $-105M | $-79M | $-89M | $44M | $58M | $40M | $67M | · | $47M | $30M | $17M | · | $6M | |
| Liabilities + Equity | $407M | $393M | $415M | $404M | $437M | $413M | $398M | $358M | $338M | $366M | · | $341M | $323M | $322M | · | $324M |
Cash Flow 17
| 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 | $4M | $3M | $2M | $3M | $3M | $3M | $2M | $3M | $3M | $3M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Stock-based Comp | $5M | $6M | $6M | $6M | $6M | $6M | $7M | $7M | $7M | $7M | $5M | $6M | $6M | $7M | $3M | $5M | |
| Deferred Tax | $4M | $2M | $4M | $2M | $2M | $-2M | $5M | $1M | $2M | $-12M | $-10M | $-5M | $-4M | $-3M | $-10M | $-8M | |
| Amort. of Intangibles | $2M | $2M | $1M | $1M | $1M | $900.0K | $900.0K | $800.0K | $800.0K | $700.0K | $600.0K | $400.0K | $400.0K | $300.0K | · | · | |
| Restructuring | $3M | · | · | · | $0 | · | · | · | · | · | · | · | · | · | · | · | |
| Other Non-cash | · | $7M | · | · | · | $6M | · | · | · | $12M | · | · | · | $-6M | · | · | |
| Operating Cash Flow | $16M | $23M | $23M | $24M | $29M | $15M | $13M | $28M | $19M | $12M | $13M | $21M | $17M | $-639.0K | $3M | $23M | |
| CapEx | $1M | $2M | $3M | $477.0K | $2M | $579.0K | $422.0K | $110.0K | $225.0K | $222.0K | $497.0K | $423.0K | $2M | $2M | $-5M | $9M | |
| Investing Cash Flow | $-7M | $-7M | $-9M | $-6M | $-5M | $-3M | $-3M | $-3M | $-3M | $-3M | $-5M | $-3M | $-9M | $-3M | $4M | $-10M | |
| Stock Repurchased | $4M | $50M | $23M | $58M | $529.0K | $0 | $0 | $0 | · | · | $0 | $0 | · | · | · | · | |
| Net Stock Activity | · | $-50M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Dividends Paid | $0 | $0 | · | · | $0 | $146M | $-4M | $2M | $2M | $42.0K | $-8M | $3M | $5M | $0 | · | $0 | |
| Financing Cash Flow | $-10M | $-25M | $-31M | $-59M | $-807.0K | $2M | $-1M | $-818.0K | $-43M | $-115.0K | $-2M | $-2M | $-14M | $-877.0K | $-25M | $2M | |
| Net Change in Cash | $-2M | $-9M | $-17M | $-41M | $23M | $15M | $8M | $24M | $-27M | $9M | $7M | $16M | $-5M | $-4M | $-18M | $15M | |
| Taxes Paid | $781.0K | $-252.0K | · | · | $924.0K | $15.0K | · | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | · | $21M | · | · | · | $15M | · | · | · | $12M | · | · | · | $-2M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $96M | · | · | · | $-4M | · | · |
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 | 23.4% | 16.1% | · | 23.5% | 16.7% | 8.8% | · | 21.1% | 19.7% | 2.3% | · | 19.2% | 16.2% | 2.5% | · | · | |
| Net Margin | 8.9% | 5.2% | · | 8.7% | 5.5% | 3.1% | · | 9.7% | 7.9% | 2.8% | · | 9.8% | 5.3% | -0.14% | · | · | |
| Pretax Margin | 18.6% | 10.5% | · | 16.7% | 10.8% | 1.3% | · | 19.1% | 17.7% | -0.05% | · | 16.9% | 13.7% | -0.45% | · | · | |
| EBITDA Margin | 23.4% | 19.6% | · | 23.5% | 16.7% | 12.7% | · | 21.1% | 19.7% | 6.3% | · | 19.2% | 16.2% | 6.2% | · | · | |
| ROA | 2.4% | 1.2% | · | 2.1% | 1.3% | 0.60% | · | 2.2% | 1.9% | 0.53% | · | 2.1% | 1.2% | -0.03% | · | · | |
| ROE | -10.5% | -4.7% | · | -33.9% | -26.5% | -22.1% | · | 14.4% | 17.8% | 4.3% | · | 26.2% | 28.5% | -2.4% | · | · | |
| ROIC | 10.4% | 6.3% | · | 9.5% | 5.9% | 8.9% | · | 9.1% | 8.8% | -57.7% | · | 10.2% | 7.7% | 0.93% | · | · |
Liquidity & Solvency 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.5 | 1.3 | · | 1.9 | 2.9 | 2.8 | · | 1.6 | 1.1 | 1.7 | · | 1.7 | 1.4 | 1.5 | · | · | |
| Quick Ratio | 0.4 | 0.5 | · | 1.1 | 2.0 | 1.7 | · | 1.0 | 0.5 | 1.1 | · | 0.9 | 0.5 | 0.7 | · | · | |
| Debt / Equity | -2.8 | -2.6 | · | -2.8 | -3.7 | -3.3 | · | 1.6 | 2.4 | 1.1 | · | 1.7 | 2.7 | 5.4 | · | · | |
| LT Debt / Equity | -2.8 | -2.6 | · | -2.8 | -3.7 | -3.3 | · | 1.5 | 2.2 | 1.0 | · | 1.5 | 2.4 | 4.9 | · | · | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | 1.0 | · | 8.4 | 6.5 | 0.8 | · | · |
Efficiency 1
| 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 | 0.3 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | · |
Valuation (TTM) 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $391M | $353M | · | $338M | $326M | $296M | · | $292M | $283M | $263M | · | $256M | $238M | $210M | · | $194M | |
| Net Income TTM | $28M | $20M | · | $23M | $21M | $18M | · | $23M | $19M | $12M | · | $12M | $6M | $-17.0K | · | $4M | |
| P/E | 57.1 | 50.2 | · | 87.6 | 131.9 | 176.2 | · | 103.8 | 79.8 | 138.8 | · | 143.3 | 241.9 | · | · | 187.6 | |
| Earnings Yield | 1.8% | 2.0% | · | 1.1% | 0.76% | 0.57% | · | 0.96% | 1.2% | 0.72% | · | 0.70% | 0.41% | 0.00% | · | 0.53% | |
| Payout Ratio | · | 0.00% | · | · | · | · | · | · | · | 2.3% | · | · | · | · | · | · |
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 | $365M | $315M | $261M | $209M | $151M |
| Operating Margin % | 20.4% | 19.4% | 12.6% | 4.8% | 5.7% |
| Net Income | $28M | $30M | $14M | $565.0K | $5M |
| Diluted EPS | $1.04 | $1.16 | $0.55 | $0.03 | $0.26 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | -3.1 | 2.1 | 1.4 | 8.8 | -8.8 |
| Current Ratio | 1.6 | 2.3 | 1.8 | 1.5 | 1.7 |
| Quick Ratio | 0.6 | 1.2 | 1.0 | 0.8 | 1.0 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $86M | $71M | $46M | $26M | $23M |
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) 247 filers · $846.7M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 54 (+25 vs prior Q) | 32 (-30 vs prior Q) | 61 (-28 vs prior Q) | 77 (+10 vs prior Q) | -3.5M |
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 |
|---|---|---|---|---|
| Capital World Investors | $98,337,921 | 2,027,586 | 11.61% | Shares |
| WASATCH ADVISORS LP | $97,786,404 | 2,292,227 | 11.55% | Shares |
| Durable Capital Partners LP | $89,101,824 | 1,837,151 | 10.52% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $62,749,640 | 1,293,807 | 7.41% | Shares |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC | $56,477,232 | 1,164,479 | 6.67% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $48,608,446 | 1,002,236 | 5.74% | Shares |
| STATE STREET CORP | $44,571,646 | 919,003 | 5.26% | Shares |
| Langdon Equity Partners | $34,677,500 | 715,000 | 4.10% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $27,062,612 | 557,992 | 3.20% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $26,449,018 | 545,223 | 3.12% | Shares |
| AKRE CAPITAL MANAGEMENT LLC | $21,504,172 | 443,385 | 2.54% | Shares |
| GOLDMAN SACHS GROUP INC | $21,316,090 | 439,507 | 2.52% | Shares |
| BANK OF AMERICA CORP /DE/ | $19,289,566 | 397,723 | 2.28% | Shares |
| Whitebark Investors LP | $13,062,117 | 269,322 | 1.54% | Shares |
| VANGUARD GROUP INC | $12,299,550 | 167,000 | 1.45% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $10,703,611 | 220,693 | 1.26% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $10,184,321 | 209,986 | 1.20% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $9,829,544 | 202,671 | 1.16% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $7,661,109 | 157,961 | 0.90% | Shares |
| Walleye Capital LLC | $6,923,327 | 142,749 | 0.82% | Shares |
| TUDOR INVESTMENT CORP ET AL | $5,710,196 | 117,736 | 0.67% | Shares |
| RIVERBRIDGE PARTNERS LLC | $5,617,220 | 115,819 | 0.66% | Shares |
| Public Sector Pension Investment Board | $3,943,196 | 81,303 | 0.47% | Shares |
| Quantinno Capital Management LP | $3,870,793 | 79,810 | 0.46% | Shares |
| Ewing Morris & Co. Investment Partners Ltd. | $3,765,201 | 77,633 | 0.44% | Shares |
| Point72 Asset Management, L.P. | $3,762,485 | 77,577 | 0.44% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $3,505,150 | 72,271 | 0.41% | Shares |
| Bank of New York Mellon Corp | $3,286,312 | 67,759 | 0.39% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $3,212,835 | 66,244 | 0.38% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $3,117,435 | 64,277 | 0.37% | Shares |
| MILLENNIUM MANAGEMENT LLC | $2,931,194 | 60,437 | 0.35% | Shares |
| Corient Private Wealth LP | $2,754,461 | 56,793 | 0.33% | Shares |
| RHUMBLINE ADVISERS | $2,734,468 | 56,381 | 0.32% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $2,516,732 | 53,696 | 0.30% | Shares |
| Apollon Wealth Management, LLC | $2,379,216 | 49,056 | 0.28% | Shares |
| STIFEL FINANCIAL CORP | $2,284,825 | 47,109 | 0.27% | Shares |
| Swiss National Bank | $2,187,350 | 45,100 | 0.26% | Shares |
| Advantage Alpha Capital Partners LP | $2,127,519 | 28,588 | 0.25% | Shares |
| AMERIPRISE FINANCIAL INC | $1,892,132 | 39,013 | 0.22% | Shares |
| IRONWOOD INVESTMENT MANAGEMENT LLC | $1,879,375 | 38,750 | 0.22% | Shares |
| RAYMOND JAMES FINANCIAL INC | $1,869,336 | 38,543 | 0.22% | Shares |
| Lighthouse Investment Partners, LLC | $1,810,457 | 37,329 | 0.21% | Shares |
| Legal & General Group Plc | $1,757,253 | 36,232 | 0.21% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,686,879 | 34,781 | 0.20% | Shares |
| WINTON GROUP Ltd | $1,630,764 | 33,624 | 0.19% | Shares |
| Motley Fool Asset Management LLC | $1,610,006 | 33,196 | 0.19% | Shares |
| WESBANCO BANK INC | $1,552,000 | 32,000 | 0.18% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $1,520,911 | 31,359 | 0.18% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $1,508,074 | 35,351 | 0.18% | Shares |
| Campbell & CO Investment Adviser LLC | $1,496,225 | 30,850 | 0.18% | Shares |
| CITADEL ADVISORS LLC | $1,456,358 | 30,028 | 0.17% | Shares |
| Balyasny Asset Management L.P. | $1,435,503 | 29,598 | 0.17% | Shares |
| One Capital Management, LLC | $1,393,830 | 32,673 | 0.16% | Shares |
| JPMORGAN CHASE & CO | $1,380,145 | 28,765 | 0.16% | Shares |
| ALLSTATE CORP | $1,342,383 | 27,678 | 0.16% | Shares |
| Daiwa Securities Group Inc. | $1,310,761 | 27,026 | 0.15% | Shares |
| BlackRock, Inc. | $1,278,509 | 26,361 | 0.15% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $1,222,200 | 25,200 | 0.14% | Shares |
| PRUDENTIAL FINANCIAL INC | $1,192,130 | 24,580 | 0.14% | Shares |
| PFS Partners, LLC | $1,189,988 | 24,536 | 0.14% | Shares |
| Freestone Grove Partners LP | $1,182,624 | 24,384 | 0.14% | Shares |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $1,182,576 | 24,383 | 0.14% | Shares |
| ALLIANCEBERNSTEIN L.P. | $1,109,544 | 26,009 | 0.13% | Shares |
| BARCLAYS PLC | $1,024,273 | 21,119 | 0.12% | Shares |
| WELLS FARGO & COMPANY/MN | $1,007,151 | 20,766 | 0.12% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $964,859 | 19,894 | 0.11% | Shares |
| Nuveen, LLC | $938,863 | 19,358 | 0.11% | Shares |
| B. Metzler seel. Sohn & Co. AG | $908,987 | 18,742 | 0.11% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $786,767 | 16,222 | 0.09% | Shares |
| XTX Topco Ltd | $744,621 | 15,353 | 0.09% | Shares |
| Brevan Howard Capital Management LP | $716,782 | 14,779 | 0.08% | Shares |
| MetLife Investment Management, LLC | $690,107 | 14,229 | 0.08% | Shares |
| Verdence Capital Advisors LLC | $652,828 | 13,460 | 0.08% | Shares |
| Man Group plc | $628,657 | 12,962 | 0.07% | Shares |
| ExodusPoint Capital Management, LP | $624,534 | 12,877 | 0.07% | Shares |
| WOLVERINE TRADING, LLC | $602,700 | 8,200 | 0.07% | Call option |
| CANADA PENSION PLAN INVESTMENT BOARD | $601,400 | 12,400 | 0.07% | Shares |
| Mariner, LLC | $582,464 | 12,009 | 0.07% | Shares |
| CITADEL ADVISORS LLC | $552,900 | 11,400 | 0.07% | Put option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $548,050 | 11,300 | 0.06% | Call option |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $526,371 | 10,853 | 0.06% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $522,976 | 10,783 | 0.06% | Shares |
| AdvisorShares Investments LLC | $509,250 | 10,500 | 0.06% | Shares |
| Louisiana State Employees Retirement System | $504,400 | 10,400 | 0.06% | Shares |
| LOGAN CAPITAL MANAGEMENT INC | $485,000 | 10,000 | 0.06% | Shares |
| Holocene Advisors, LP | $482,284 | 9,944 | 0.06% | Shares |
| MARSHALL WACE, LLP | $473,748 | 9,768 | 0.06% | Shares |
| Vanguard Global Advisers, LLC | $471,129 | 9,714 | 0.06% | Shares |
| State of Tennessee, Department of Treasury | $465,115 | 9,590 | 0.05% | Shares |
| JANUS HENDERSON GROUP PLC | $460,657 | 10,792 | 0.05% | Shares |
| Invesco Ltd. | $457,889 | 9,441 | 0.05% | Shares |
| CITADEL ADVISORS LLC | $451,050 | 9,300 | 0.05% | Call option |
| Gibbs Wealth Management | $439,525 | 5,906 | 0.05% | Shares |
| Atria Investments, Inc | $433,353 | 8,935 | 0.05% | Shares |
| MORGAN STANLEY | $429,419 | 8,854 | 0.05% | Shares |
| KING LUTHER CAPITAL MANAGEMENT CORP | $416,130 | 8,580 | 0.05% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $401,677 | 8,282 | 0.05% | Shares |
| FJ Capital Management LLC | $384,363 | 7,925 | 0.05% | Shares |
| Callan Family Office, LLC | $372,238 | 7,675 | 0.04% | Shares |
| Aquatic Capital Management LLC | $370,734 | 7,644 | 0.04% | Shares |
Company insiders 19 insiders · 10 officers · 7 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Mark Evan Jones | CEO | May 1, 2018 A | 297,734 | 0 | 0 | $0 |
| John Arthur Martin | Chief Financial Officer | May 28, 2026 P | 5,000 | 1 | 0 | $173,650 |
| Mark S. Colby | Chief Financial Officer | May 1, 2018 A | 37,137 | 0 | 0 | $0 |
| Michael C. Colby | President and COO | May 1, 2018 A | 43,217 | 0 | 0 | $0 |
| Martin Ellis Thornthwaite | General Counsel | May 18, 2026 P | 5,000 | 1 | 0 | $207,500 |
| Moxley Michael Patrick | VP of Service Delivery | May 1, 2018 A | 37,137 | 0 | 0 | $0 |
| Drew Burks | Chief Information Officer | April 26, 2018 A | — | 0 | 0 | $0 |
| Matthew Colby | Vice President of Agency Sales | April 26, 2018 A | — | 0 | 0 | $0 |
| Megan Bailey | VP of Franchise Sales | April 26, 2018 A | — | 0 | 0 | $0 |
| Gary Delavan | VP of Corporate Sales | April 26, 2018 A | — | 0 | 0 | $0 |
| Peter R. Lane | Director | July 31, 2026 P | 1,600 | 1 | 0 | $101,024 |
| Waded Cruzado | Director | Feb. 2, 2022 A | — | 0 | 0 | $0 |
| Thomas Mcconnon | Director | Feb. 2, 2022 A | — | 0 | 0 | $0 |
| Robyn Mary Elizabeth Jones | Director | May 1, 2018 A | 297,734 | 0 | 0 | $0 |
| Mark Miller | Director | April 26, 2018 A | — | 0 | 0 | $0 |
| James Reid | Director | April 26, 2018 A | — | 0 | 0 | $0 |
| Durable Capital Partners LP | 10% owner | July 31, 2026 P | 2,570,260 | 9 | 0 | $11,349,167 |
| Adrienne Jones | 10% owner | July 28, 2026 C | 0 | 0 | 1 | $-326,000 |
| Patrick Ryan Langston | 10% owner | May 29, 2026 P | 7,800 | 1 | 0 | $99,568 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 2 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Mark E. Jones, Robyn Jones, The Mark & Robyn Jones Descendants Trust 2014, The Lanni Elaine Romney Family Trust 2014, The Lindy Jean Langston Family Trust 2014, The Camille LaVaun Peterson Family Trust 2014, The Desiree Robyn Coleman Family Trust 2014, The Adrienne Morgan Jones Family Trust 2014, The Mark Evan Jones, Jr. Family Trust 2014, Serena Jones, Lanni Romney, Lindy Langston, Camille Peterson, Desiree Coleman, Adrienne Jones, Mark E. Jones, Jr., P. Ryan Langston, SLJ Dynasty Trust, Jones 2020 Irrevocable Trust, Lindy Langston Spousal Lifetime Access Trust, Lanni Romney Spousal Lifetime Access Trust, Nathan Scott Romney, Nathan Romney 2021 Family Trust, Ryan Langston 2021 Family Trust, The CP Descendants' Trust, Chick & The Bear Irrevocable Trust, SLJ 2023 Grantor Retained Annuity Trust, SLJ 2025 Grantor Retained Annuity Trust, Alexandra Nicole Rogers Trust, Benjamin Douglas Jones Trust, Brendan Scot Jones Trust, Emily Marie Jones Trust, Joshua Thomas Jones Trust ×49 filings | Feb. 25, 2026 | 35.10% | Amendment | Passive investment | SEC |
| Michael C. Colby, Colby 2014 Family Trust ×3 filings | Jan. 22, 2020 | — | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 53 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 |
|---|---|---|---|---|
| TMFS · RBB Fund, Inc. | 2.04% | 35,204 NS | May 31, 2026 | N-PORT |
| PSC · Principal Exchange-Traded Funds | 0.22% | 105,574 NS | June 30, 2026 | N-PORT |
| ESSC · Strategy Shares | 0.11% | 623 NS | April 30, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.06% | 9,322 NS | April 30, 2026 | N-PORT |
| BKSE · BNY Mellon ETF Trust | 0.04% | 734 NS | April 30, 2026 | N-PORT |
| SAA · ProShares Trust | 0.04% | 299 NS | May 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.03% | 10,263 NS | April 30, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.02% | 77,074 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.02% | 1,117 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.02% | 118,547 NS | May 31, 2026 | N-PORT |
| FNCL · FIDELITY COVINGTON TRUST | 0.01% | 6,381 NS | April 30, 2026 | N-PORT |
| UWM · ProShares Trust | 0.01% | 873 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.01% | 882 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 1,873 NS | May 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.00% | 2,156 NS | April 30, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 22 NS | May 31, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.00% | 8,851 NS | May 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 14,306 NS | April 30, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 557 NS | April 30, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 14,266 NS | May 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 549 NS | April 30, 2026 | N-PORT |
| AVUQ · AMERICAN CENTURY ETF TRUST | 0.00% | 45 NS | May 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 1,244 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VBK · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VIOO · VANGUARD ADMIRAL FUNDS | — | — | July 15, 2026 | Daily |
| VIOG · VANGUARD ADMIRAL FUNDS | — | — | July 30, 2026 | Daily |
| VIOV · VANGUARD ADMIRAL FUNDS | — | — | July 15, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| IJR · iShares Trust | — | — | Aug. 5, 2026 | Daily |
| IJT · iShares Trust | — | — | Aug. 17, 2026 | Daily |
| IJS · iShares Trust | — | — | Aug. 10, 2026 | Daily |
| ITOT · iShares Trust | — | — | Aug. 5, 2026 | Daily |
| IWV · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IWN · iShares Trust | — | — | Aug. 17, 2026 | Daily |
| IWO · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IWM · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| XJR · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| TEXN · iShares Trust | — | — | Aug. 5, 2026 | Daily |
| PKW · Invesco Exchange-Traded Fund Trust | — | — | Aug. 4, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | — | — | July 13, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | — | — | July 13, 2026 | Daily |
| VFH · VANGUARD WORLD FUND | — | — | July 20, 2026 | Daily |
| ISCB · iShares Trust | — | — | Aug. 5, 2026 | Daily |
| ISCG · iShares Trust | — | — | Aug. 5, 2026 | Daily |