HGV Hilton Grand Vacations Inc. Common Stock
$45.00
Price · Aug 19, 2026
Fundamentals as of Jul 30, 2026
52W Range
$37–$55
44% of range
Analyst Rating
HOLD
14 analysts
Price Target
$57
+26% upside
P/E (TTM)
49.3
ROE
5.3%
Net Profit Margin
1.6%
HGV Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$45.00
Market Cap
$3.64B
P/E (TTM)
49.3
EPS (TTM)
$0.89
Revenue (TTM)
$5.05B
Div Yield
—
ROE
5.3%
Debt/Equity
—
52W Range
$37 – $55
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$5.05B
2016-12-31
→
2025-12-31
EPS
$0.89
2016-12-31
→
2025-12-31
Free Cash Flow
$230M
2018-12-31
→
2025-12-31
Margins
1.6%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
HGV
Peer Median
P/E (TTM)
49.3
20.7
P/S (TTM)
0.7
1.1
P/B
2.8
13.7
Price / FCF
15.8
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
HGV
Peer Median
Net Profit Margin
1.6%
2.9%
ROA
0.70%
1.3%
ROE
5.3%
-11.1%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
HGV
Peer Median
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
HGV
Peer Median
Revenue YoY
1.3%
—
Revenue CAGR 3Y
9.6%
—
Revenue CAGR 5Y
41.4%
—
EPS YoY
97.8%
—
Net Income YoY
72.3%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
HGV
Peer Median
HGV Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
14 analysts
- Strong Buy 1 7.1%
- Buy 6 42.9%
- Hold 7 50.0%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
10 analysts · 2026-08-14
Median
$53.00
Mean
$56.60
← Below all targets
$45.00
Low
$46.00
High
$74.00
Median target
$53.00
+17.8%
Mean target
$56.60
+25.8%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.34%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.89 | $0.99 | -0.10% |
| March 31, 2026 | $0.99 | $0.52 | 0.47% |
| Dec. 31, 2025 | $0.55 | $1.02 | -0.47% |
| Sept. 30, 2025 | $0.28 | $1.02 | -0.74% |
| June 30, 2025 | $0.25 | $0.76 | -0.51% |
| March 31, 2025 | $-0.17 | $0.50 | -0.67% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| HGV | $3.72B | 50.3 | 1.3% | 1.6% | 5.3% | — |
| WH | — | 30.2 | 1.5% | 13.5% | 37.2% | — |
| GBTG | — | 34.8 | 12.2% | 4.1% | 8.3% | — |
| CHH | $4.38B | 12.1 | 0.75% | 23.2% | 477.4% | — |
| TNL | $4.45B | 20.5 | 4.1% | 5.7% | -24.7% | — |
| VAC | $1.97B | -6.5 | 1.3% | -6.1% | -13.9% | — |
| LIND | $798M | -22.9 | 19.6% | -3.9% | 10.8% | — |
| TH | $799M | -21.6 | -17.0% | -11.6% | -9.2% | 13.3% |
| SABR | $537M | 1.0 | 0.95% | 18.9% | -36.9% | — |
| BKNG | $345.53B | 32.3 | 13.4% | — | — | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.05B | $4.98B | $3.98B | $3.83B | $2.33B | $894M | $1.84B | $2.00B | $1.71B | $1.58B | |
| SG&A Expense | $215M | $199M | $194M | $212M | $151M | $92M | $118M | $120M | $104M | $92M | |
| Operating Expenses | $4.59B | $4.52B | $3.37B | $3.22B | $1.95B | $1.14B | $1.52B | $1.56B | $1.37B | $1.26B | |
| Interest Expense | · | · | $178M | $142M | $105M | $43M | $43M | $30M | $27M | $3M | |
| Other Non-op | $7M | $-11M | $2M | $-1M | $-26M | $3M | $-3M | $-1M | $0 | $-1M | |
| Pretax Income | $175M | $136M | $449M | $481M | $269M | $-280M | $273M | $403M | $311M | $293M | |
| Income Tax | $76M | $76M | $136M | $129M | $93M | $-79M | $57M | $105M | $-16M | $125M | |
| Net Income | $81M | $47M | $313M | $352M | $176M | $-201M | $216M | $298M | $327M | $168M | |
| EPS (Basic) | $0.90 | $0.46 | $2.84 | $2.98 | $1.77 | $-2.36 | $2.43 | $3.07 | $3.30 | $1.70 | |
| EPS (Diluted) | $0.89 | $0.45 | $2.80 | $2.93 | $1.75 | $-2.36 | $2.42 | $3.05 | $3.28 | $1.70 | |
| Shares (Basic) | 89,900,000 | 101,900,000 | 110,100,000 | 118,000,000 | 99,700,000 | 85,000,000 | 89,000,000 | 97,209,889 | 98,934,352 | 99,000,000 | |
| Shares (Diluted) | 91,500,000 | 103,100,000 | 111,600,000 | 119,600,000 | 101,100,000 | 85,000,000 | 89,000,000 | 97,898,242 | 99,621,199 | 99,000,000 | |
| EBITDA | $273M | $268M | $213M | $244M | $126M | $45M | $51M | $36M | · | · |
Balance Sheet 19
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $239M | $328M | $589M | $223M | $432M | $428M | $67M | $108M | $246M | $48M | |
| Receivables | $270M | $315M | $507M | $511M | $302M | $119M | $174M | $153M | · | · | |
| PP&E (Net) | $859M | $792M | $758M | $798M | $756M | $501M | $778M | $559M | $238M | $256M | |
| PP&E (Gross) | $1.17B | $1.05B | $981M | $967M | $911M | $632M | $888M | $642M | $303M | $312M | |
| Accum. Depreciation | $313M | $263M | $223M | $169M | $155M | $131M | $110M | $83M | $65M | $56M | |
| Goodwill | $1.99B | $1.99B | $1.42B | $1.42B | $1.38B | $0 | · | · | · | · | |
| Intangibles | $1.67B | $1.79B | $1.16B | $1.28B | $1.44B | $81M | $77M | $81M | $72M | $70M | |
| Total Assets | $11.54B | $11.44B | $8.69B | $8.00B | $8.01B | $3.13B | $3.08B | $2.75B | $2.38B | $2.18B | |
| Deferred Tax | $864M | $925M | $631M | $659M | $670M | $137M | $259M | $254M | $250M | $389M | |
| Total Liabilities | $10.10B | $9.55B | $6.57B | $5.85B | $6.02B | $2.76B | $2.51B | $2.14B | $1.87B | $2.01B | |
| Long-term Debt | $4.54B | $4.60B | $3.05B | $2.65B | $2.91B | $1.16B | $828M | $604M | $482M | $490M | |
| Common Stock | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | |
| Paid-in Capital | · | · | · | · | · | · | · | · | · | $138M | |
| Retained Earnings | $34M | $352M | $593M | $529M | $357M | $181M | $390M | $441M | $355M | $28M | |
| Treasury Stock | · | $1.55B | $1.12B | $272M | $0 | · | · | · | · | · | |
| AOCI | $-22M | $0 | $17M | $39M | $0 | $0 | · | · | · | · | |
| Stockholders' Equity | $1.29B | $1.75B | $2.12B | $2.15B | $1.99B | $374M | $570M | $616M | $518M | $167M | |
| Liabilities + Equity | $11.54B | $11.44B | $8.69B | $8.00B | $8.01B | $3.13B | $3.08B | $2.75B | $2.38B | $2.18B | |
| Shares Outstanding | 83,133,678 | 97,000,000 | 106,000,000 | 113,000,000 | 120,000,000 | 84,000,000 | 85,000,000 | 94,000,000 | 99,000,000 | 99,000,000 |
Cash Flow 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $273M | $268M | $213M | $244M | $126M | $45M | $44M | $33M | $29M | $24M | |
| Stock-based Comp | $64M | $47M | $40M | $46M | $48M | $15M | $22M | $16M | $15M | $0 | |
| Deferred Tax | $-56M | $-29M | $-23M | $-38M | $58M | $-123M | $3M | $20M | $-129M | $23M | |
| Amort. of Intangibles | $216M | $216M | $163M | $192M | $90M | $15M | $9M | $10M | $12M | $12M | |
| Restructuring | · | · | · | · | · | $7M | · | · | · | · | |
| Other Non-cash | $-62M | $-24M | $-231M | $143M | $-240M | $343M | $-147M | $-529M | · | · | |
| Operating Cash Flow | $300M | $309M | $312M | $747M | $168M | $79M | $143M | $-164M | $356M | $182M | |
| CapEx | $70M | $42M | $31M | $58M | $18M | $8M | $37M | $44M | $35M | $26M | |
| Investing Cash Flow | $-146M | $-1.57B | $-158M | $-97M | $-1.63B | $-33M | $-63M | $-57M | $-87M | $-34M | |
| Debt Issued | · | · | · | · | · | · | $485M | $530M | $0 | $200M | |
| Net Debt Issued | · | · | · | · | · | · | $195M | $122M | · | · | |
| Stock Repurchased | $600M | $432M | $368M | $272M | $0 | $10M | $283M | $183M | · | · | |
| Net Stock Activity | $-600M | $-432M | $-368M | $-272M | $0 | $-10M | $-283M | $-183M | · | · | |
| Financing Cash Flow | $-338M | $1.16B | $183M | $-782M | $1.64B | $328M | $-108M | $104M | $-123M | $-76M | |
| Net Change in Cash | $-195M | $-119M | $330M | $-140M | $169M | $374M | $-28M | $-117M | $146M | $72M | |
| Taxes Paid | $154M | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $230M | $267M | $281M | $689M | $150M | $71M | $108M | $-203M | · | · | |
| Levered FCF | · | · | $157M | $585M | $81M | $40M | $74M | $-225M | · | · |
Profitability 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 1.6% | 0.94% | 7.9% | 9.2% | 7.5% | -22.5% | 11.8% | 14.9% | · | · | |
| Pretax Margin | 3.5% | 2.7% | 11.3% | 12.5% | 11.5% | -31.3% | 14.8% | 20.2% | · | · | |
| EBITDA Margin | 5.4% | 5.4% | 5.3% | 6.4% | 5.4% | 5.0% | 2.8% | 1.8% | · | · | |
| ROA | 0.70% | 0.47% | 3.8% | 4.4% | 3.2% | -6.5% | 7.4% | 11.6% | · | · | |
| ROE | 5.3% | 2.4% | 14.8% | 16.3% | 9.1% | -44.9% | 40.6% | 50.6% | · | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.5 | 0.5 | 0.5 | 0.4 | 0.3 | 0.6 | 0.8 | · | · | |
| Receivables Turnover | 17.3 | 12.1 | 7.8 | 9.4 | 11.1 | 6.1 | 11.2 | · | · | · |
Growth Rates 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 1.3% | 25.2% | 3.7% | 64.2% | 161.2% | · | · | · | · | · | |
| Revenue CAGR 3Y | 9.6% | 28.7% | 64.5% | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 41.4% | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 97.8% | -83.9% | -4.4% | 67.4% | · | · | · | · | · | · | |
| EPS CAGR 3Y | -32.8% | -36.4% | · | · | · | · | · | · | · | · | |
| Net Income YoY | 72.3% | -85.0% | -11.1% | 100.0% | · | · | · | · | · | · | |
| Net Income CAGR 3Y | -38.7% | -35.6% | · | · | · | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $5.05B | $4.98B | $3.98B | $3.83B | $2.33B | $894M | $1.84B | $2.00B | $1.71B | $1.58B | |
| Net Income TTM | $81M | $47M | $313M | $352M | $176M | $-201M | $216M | $298M | $327M | $168M | |
| Market Cap | $3.72B | $3.77B | $4.26B | $4.38B | $6.25B | $2.67B | $2.94B | $2.50B | · | · | |
| P/E | 50.3 | 86.6 | 14.3 | 13.2 | 29.8 | -13.3 | 14.2 | 8.7 | 12.8 | · | |
| P/S | 0.7 | 0.8 | 1.1 | 1.1 | 2.7 | 3.0 | 1.6 | 1.2 | · | · | |
| P/B | 2.9 | 2.2 | 2.0 | 2.0 | 3.1 | 7.1 | 5.2 | 4.1 | · | · | |
| P / Tangible Book | · | · | · | · | · | 9.1 | · | · | · | · | |
| P / Cash Flow | 12.4 | 12.2 | 13.6 | 5.9 | 37.2 | 33.8 | 20.3 | -15.7 | · | · | |
| P / FCF | 16.2 | 14.1 | 15.2 | 6.4 | 41.7 | 37.6 | 27.2 | -12.3 | · | · | |
| Earnings Yield | 2.0% | 1.2% | 7.0% | 7.6% | 3.4% | -7.5% | 7.0% | 11.6% | 7.8% | · |
Income Statement 13
| 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 | $1.36B | $1.28B | $1.33B | $1.30B | $1.27B | $1.15B | $1.28B | $1.31B | $1.24B | $1.16B | $1.02B | $1.02B | $1.01B | $934M | $992M | $1.12B | |
| SG&A Expense | $67M | $49M | $53M | $58M | $58M | $46M | $52M | $44M | $58M | $45M | $64M | $40M | $48M | $42M | $54M | $50M | |
| Operating Expenses | $1.27B | $1.14B | $1.17B | $1.18B | $1.15B | $1.09B | $1.15B | $1.14B | $1.14B | $1.09B | $870M | $838M | $853M | $804M | $865M | $879M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $79M | · | $45M | $44M | $44M | · | $37M | |
| Other Non-op | $0 | $-1M | $0 | $-3M | $4M | $6M | $-12M | $9M | $-3M | $-5M | $-1M | $-1M | $3M | $1M | $-2M | $2M | |
| Pretax Income | $23M | $74M | $93M | $45M | $43M | $-6M | $49M | $93M | $7M | $-13M | $108M | $136M | $115M | $90M | $92M | $204M | |
| Income Tax | $8M | $6M | $40M | $15M | $15M | $6M | $23M | $61M | $3M | $-11M | $40M | $44M | $35M | $17M | $14M | $54M | |
| Net Income | $12M | $66M | $48M | $25M | $25M | $-17M | $20M | $29M | $2M | $-4M | $68M | $92M | $80M | $73M | $78M | $150M | |
| EPS (Basic) | $0.15 | $0.81 | $0.53 | $0.28 | $0.26 | $-0.17 | $0.20 | $0.28 | $0.02 | $-0.04 | $0.63 | $0.84 | $0.72 | $0.65 | $0.71 | $1.25 | |
| EPS (Diluted) | $0.15 | $0.79 | $0.53 | $0.28 | $0.25 | $-0.17 | $0.19 | $0.28 | $0.02 | $-0.04 | $0.62 | $0.83 | $0.71 | $0.64 | $0.67 | $1.24 | |
| Shares (Basic) | 79,300,000 | 81,900,000 | -185,100,000 | 88,300,000 | 91,200,000 | 95,500,000 | -207,600,000 | 101,000,000 | 103,400,000 | 105,100,000 | -223,000,000 | 109,500,000 | 110,900,000 | 112,700,000 | -242,600,000 | 119,600,000 | |
| Shares (Diluted) | 80,900,000 | 83,700,000 | -186,300,000 | 90,100,000 | 92,200,000 | 95,500,000 | -208,300,000 | 102,000,000 | 104,300,000 | 105,100,000 | -225,800,000 | 110,900,000 | 112,100,000 | 114,400,000 | -245,500,000 | 121,100,000 | |
| EBITDA | $71M | $71M | · | $67M | $59M | $67M | · | $68M | $68M | $62M | · | $53M | $52M | $51M | · | $57M |
Balance Sheet 18
| 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 | $272M | $261M | $239M | $215M | $269M | $259M | $328M | $297M | $328M | $355M | $589M | $227M | $252M | $389M | $223M | $425M | |
| Receivables | $312M | $274M | $270M | $440M | $444M | $375M | $315M | $400M | $524M | $515M | · | $441M | $485M | $503M | · | $398M | |
| PP&E (Net) | $899M | $871M | $859M | $854M | $828M | $861M | $792M | $652M | $902M | $953M | · | $789M | $807M | $797M | · | $776M | |
| PP&E (Gross) | · | · | $1.17B | · | · | · | $1.05B | · | · | · | · | · | · | · | · | $963M | |
| Accum. Depreciation | · | · | $313M | · | · | · | $263M | · | · | · | · | · | · | · | · | $187M | |
| Goodwill | $1.99B | $1.99B | $1.99B | $1.99B | $1.99B | $1.99B | $1.99B | $1.96B | $1.93B | $1.94B | · | $1.42B | $1.42B | $1.42B | · | $1.42B | |
| Intangibles | $1.59B | $1.63B | $1.67B | $1.73B | $1.76B | $1.80B | $1.79B | $1.79B | $1.89B | $1.93B | · | $1.19B | $1.21B | $1.24B | · | $1.32B | |
| Total Assets | $12.23B | $11.94B | $11.54B | $11.68B | $11.74B | $11.79B | $11.44B | $11.15B | $11.47B | $11.66B | · | $8.01B | $8.15B | $8.48B | · | $8.05B | |
| Deferred Tax | $864M | $864M | $864M | $927M | $928M | $929M | $925M | $967M | $972M | $980M | · | $657M | $658M | $656M | · | $703M | |
| Total Liabilities | $10.98B | $10.59B | $10.10B | $10.14B | $10.10B | $10.06B | $9.55B | $9.17B | $9.39B | $9.50B | · | $5.86B | $6.05B | $6.35B | · | $5.89B | |
| Long-term Debt | $4.88B | $4.76B | $4.54B | $4.72B | $4.57B | $4.49B | $4.60B | $5.04B | $4.88B | $5.14B | · | $2.73B | $2.94B | $2.94B | · | $2.61B | |
| Common Stock | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | · | $1M | $1M | $1M | · | $1M | |
| Retained Earnings | $-101M | $-5M | $34M | $88M | $167M | $238M | $352M | $414M | $456M | $521M | · | $588M | $539M | $543M | · | $517M | |
| Treasury Stock | · | · | · | $2.00B | $1.85B | $1.70B | · | $448M | $340M | $240M | · | $541M | $478M | $357M | · | · | |
| AOCI | $-28M | $-25M | $-22M | $-12M | $-5M | $-7M | $0 | $2M | $5M | $15M | · | $24M | $24M | $29M | · | $32M | |
| Stockholders' Equity | $1.10B | $1.20B | $1.29B | $1.39B | $1.49B | $1.58B | $1.75B | $1.84B | $1.92B | $2.00B | · | $2.15B | $2.10B | $2.13B | · | $2.16B | |
| Liabilities + Equity | $12.23B | $11.94B | $11.54B | $11.68B | $11.74B | $11.79B | $11.44B | $11.15B | $11.47B | $11.66B | · | $8.01B | $8.15B | $8.48B | · | $8.05B | |
| Shares Outstanding | 78,017,947 | 80,656,367 | 83,133,678 | 86,635,596 | 89,458,267 | 93,445,262 | 96,720,179 | 99,850,114 | 102,485,583 | 104,760,243 | 106,000,000 | 108,628,081 | 109,929,447 | 112,515,473 | 113,000,000 | 116,387,235 |
Cash Flow 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $71M | $71M | $80M | $67M | $59M | $67M | $70M | $68M | $68M | $62M | $57M | $53M | $52M | $51M | $63M | $57M | |
| Stock-based Comp | $25M | $11M | $10M | $19M | $23M | $12M | $9M | $11M | $18M | $9M | $2M | $12M | $16M | $10M | $6M | $14M | |
| Deferred Tax | $0 | $0 | $-62M | $0 | $0 | $6M | $-29M | $0 | $0 | $0 | $-23M | · | · | · | $-37M | $-1M | |
| Amort. of Intangibles | $55M | $55M | $62M | $52M | $52M | $50M | $54M | $56M | $55M | $51M | $45M | $40M | $38M | $40M | $45M | $50M | |
| Other Non-cash | · | $-20M | · | · | · | $-30M | · | · | · | $-67M | · | · | · | $-108M | · | · | |
| Operating Cash Flow | $134M | $128M | $167M | $34M | $61M | $38M | $105M | $91M | $113M | $0 | $0 | $92M | $194M | $26M | $-16M | $233M | |
| CapEx | $3M | $6M | $20M | $21M | $15M | $14M | $15M | $10M | $7M | $10M | $13M | $9M | $4M | $5M | $33M | $6M | |
| Investing Cash Flow | $-121M | $-20M | $-42M | $-38M | $-34M | $-32M | $-57M | $-32M | $-9M | $-1.47B | $-111M | $-22M | $-14M | $-11M | $-46M | $-16M | |
| Stock Repurchased | $150M | $150M | $150M | $150M | $150M | $150M | $125M | $108M | $100M | $99M | $100M | $62M | $121M | $85M | $110M | $84M | |
| Net Stock Activity | · | $-150M | · | · | · | $-150M | · | · | · | $-99M | · | · | · | $-85M | · | · | |
| Financing Cash Flow | $7M | $-122M | $-86M | $-39M | $-12M | $-201M | $185M | $-130M | $-171M | $1.27B | $453M | $-118M | $-335M | $183M | $-138M | $-126M | |
| Net Change in Cash | $16M | $-19M | $28M | $-49M | $21M | $-195M | $225M | $-60M | $-77M | $-207M | $350M | $-53M | $-164M | $197M | $-189M | $78M | |
| Taxes Paid | $42M | $5M | · | · | $67M | $63M | · | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | · | $122M | · | · | · | $24M | · | · | · | $-10M | · | · | · | $21M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-22M | · | · | · | $-15M | · | · |
Profitability 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 0.88% | 5.1% | · | 1.9% | 2.0% | -1.5% | · | 2.2% | 0.16% | -0.35% | · | 9.0% | 7.9% | 7.8% | · | 13.4% | |
| Pretax Margin | 1.7% | 5.8% | · | 3.5% | 3.4% | -0.52% | · | 7.1% | 0.57% | -1.1% | · | 13.4% | 11.4% | 9.6% | · | 18.3% | |
| EBITDA Margin | 5.2% | 5.5% | · | 5.1% | 4.7% | 5.8% | · | 5.2% | 5.5% | 5.4% | · | 5.2% | 5.2% | 5.5% | · | 5.1% | |
| ROA | 0.10% | 0.56% | · | 0.22% | 0.22% | -0.14% | · | 0.30% | 0.02% | -0.04% | · | 1.1% | 0.98% | 0.86% | · | 1.9% | |
| ROE | 0.93% | 4.8% | · | 1.6% | 1.5% | -0.95% | · | 1.5% | 0.10% | -0.19% | · | 4.3% | 3.8% | 3.5% | · | 7.4% |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Receivables Turnover | 3.6 | 4.0 | · | 3.1 | 2.6 | 2.6 | · | 3.1 | 2.4 | 2.3 | · | 2.4 | 2.2 | 2.0 | · | 3.3 |
Valuation (TTM) 9
| 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 | $5.21B | $5.00B | · | $5.02B | $4.96B | $4.84B | · | $4.71B | $4.42B | $4.12B | · | $4.08B | $4.00B | $3.78B | · | $3.77B | |
| Net Income TTM | $128M | $99M | · | $62M | $39M | $10M | · | $119M | $170M | $241M | · | $395M | $376M | $347M | · | $373M | |
| Market Cap | $4.09B | $3.16B | · | $3.62B | $3.72B | $3.50B | · | $3.63B | $4.14B | $4.95B | · | $4.42B | $5.00B | $5.00B | · | $3.83B | |
| P/E | 35.6 | 34.0 | · | 65.3 | 109.3 | 415.7 | · | 33.3 | 26.6 | 22.1 | · | 11.9 | 14.2 | 15.3 | · | 10.4 | |
| P/S | 0.8 | 0.6 | · | 0.7 | 0.7 | 0.7 | · | 0.8 | 0.9 | 1.2 | · | 1.1 | 1.2 | 1.3 | · | 1.0 | |
| P/B | 3.7 | 2.6 | · | 2.6 | 2.5 | 2.2 | · | 2.0 | 2.2 | 2.5 | · | 2.1 | 2.4 | 2.3 | · | 1.8 | |
| P / Cash Flow | · | 24.7 | · | · | · | 92.0 | · | · | · | · | · | · | · | 192.3 | · | · | |
| P / FCF | · | 25.9 | · | · | · | 145.7 | · | · | · | -494.6 | · | · | · | 238.1 | · | · | |
| Earnings Yield | 2.8% | 2.9% | · | 1.5% | 0.92% | 0.24% | · | 3.0% | 3.8% | 4.5% | · | 8.4% | 7.0% | 6.5% | · | 9.6% |
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 | $5.05B | $4.98B | $3.98B | $3.83B | $2.33B |
| Net Income | $81M | $47M | $313M | $352M | $176M |
| Diluted EPS | $0.89 | $0.45 | $2.80 | $2.93 | $1.75 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $230M | $267M | $281M | $689M | $150M |
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Institutional owners (13F) 322 filers · $3.8B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 80 (+40 vs prior Q) | 26 (-11 vs prior Q) | 88 (-18 vs prior Q) | 82 (+26 vs prior Q) | +2.2M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| Apollo Management Holdings, L.P. | $654,406,355 | 12,495,825 | 17.42% | Shares |
| Hill Path Capital LP | $340,924,144 | 6,509,913 | 9.07% | Shares |
| CAS Investment Partners, LLC | $272,683,049 | 5,206,856 | 7.26% | Shares |
| VANGUARD GROUP INC | $256,167,079 | 5,724,404 | 6.82% | Shares |
| North Peak Capital Management, LLC | $233,175,959 | 4,452,472 | 6.21% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $196,655,320 | 3,755,115 | 5.23% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $163,265,151 | 3,117,532 | 4.34% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $147,152,525 | 2,809,863 | 3.92% | Shares |
| Mudita Advisors LLP | $147,091,933 | 2,808,706 | 3.91% | Shares |
| FMR LLC | $145,623,007 | 2,780,657 | 3.88% | Shares |
| STATE STREET CORP | $118,375,420 | 2,260,367 | 3.15% | Shares |
| Parsifal Capital Management, LP | $108,863,038 | 2,078,729 | 2.90% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $86,242,707 | 1,646,796 | 2.30% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $65,992,625 | 1,259,848 | 1.76% | Shares |
| Long Pond Capital, LP | $62,117,052 | 1,186,119 | 1.65% | Shares |
| Nantahala Capital Management, LLC | $56,297,750 | 1,075,000 | 1.50% | Call option |
| Nantahala Capital Management, LLC | $54,107,113 | 1,033,170 | 1.44% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $48,286,240 | 922,021 | 1.29% | Shares |
| PB INVESTMENT PARTNERS, L.P. | $37,544,105 | 716,901 | 1.00% | Shares |
| 683 Capital Management, LLC | $36,135,300 | 690,000 | 0.96% | Shares |
| BREACH INLET CAPITAL MANAGEMENT, LLC | $35,102,825 | 670,285 | 0.93% | Shares |
| GOLDMAN SACHS GROUP INC | $29,223,090 | 558,012 | 0.78% | Shares |
| IRIDIAN ASSET MANAGEMENT LLC/CT | $24,121,413 | 460,596 | 0.64% | Shares |
| NORGES BANK | $23,641,337 | 451,429 | 0.63% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $22,620,488 | 431,936 | 0.60% | Shares |
| BlackRock, Inc. | $16,763,846 | 320,104 | 0.45% | Shares |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | $14,615,001 | 279,072 | 0.39% | Shares |
| Aristotle Capital Boston, LLC | $13,555,818 | 258,847 | 0.36% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $12,624,626 | 241,066 | 0.34% | Shares |
| Buckley Capital Advisors, LLC | $12,542,772 | 239,503 | 0.33% | Shares |
| KIZE CAPITAL LP | $12,160,523 | 232,204 | 0.32% | Shares |
| BANK OF AMERICA CORP /DE/ | $10,347,002 | 197,575 | 0.28% | Shares |
| RHUMBLINE ADVISERS | $9,596,094 | 183,237 | 0.26% | Shares |
| SummitTX Capital, L.P. | $9,244,091 | 176,515 | 0.25% | Shares |
| ALGERT GLOBAL LLC | $9,072,055 | 173,230 | 0.24% | Shares |
| Jain Global LLC | $7,797,579 | 148,894 | 0.21% | Shares |
| EXCHANGE TRADED CONCEPTS, LLC | $7,411,036 | 141,513 | 0.20% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $7,106,295 | 135,694 | 0.19% | Shares |
| Qube Research & Technologies Ltd | $7,079,953 | 135,191 | 0.19% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $6,474,659 | 123,633 | 0.17% | Shares |
| DANSKE BANK A/S | $6,464,605 | 123,441 | 0.17% | Shares |
| BARCLAYS PLC | $6,419,357 | 122,577 | 0.17% | Shares |
| TUDOR INVESTMENT CORP ET AL | $6,416,111 | 122,515 | 0.17% | Shares |
| AMERICAN CENTURY COMPANIES INC | $5,835,379 | 111,426 | 0.16% | Shares |
| BAMCO INC /NY/ | $5,771,174 | 110,200 | 0.15% | Shares |
| Swiss National Bank | $5,769,079 | 110,160 | 0.15% | Shares |
| Campbell & CO Investment Adviser LLC | $5,736,034 | 109,529 | 0.15% | Shares |
| Occam Crest Management LP | $5,461,987 | 106,223 | 0.15% | Shares |
| Quinn Opportunity Partners LLC | $4,843,963 | 92,495 | 0.13% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $4,707,382 | 89,887 | 0.13% | Shares |
| ALLIANCEBERNSTEIN L.P. | $4,517,108 | 115,468 | 0.12% | Shares |
| Weiss Asset Management LP | $4,391,120 | 83,848 | 0.12% | Shares |
| CAXTON ASSOCIATES LLP | $4,167,395 | 79,576 | 0.11% | Shares |
| DEUTSCHE BANK AG\ | $3,997,559 | 76,333 | 0.11% | Shares |
| AMERIPRISE FINANCIAL INC | $3,996,878 | 76,320 | 0.11% | Shares |
| SEI INVESTMENTS CO | $3,863,280 | 73,769 | 0.10% | Shares |
| CREDIT AGRICOLE S A | $3,770,640 | 72,000 | 0.10% | Shares |
| CIBC WORLD MARKET INC. | $3,721,360 | 71,059 | 0.10% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $3,706,277 | 70,771 | 0.10% | Shares |
| XTX Topco Ltd | $3,692,452 | 70,507 | 0.10% | Shares |
| FIRST TRUST ADVISORS LP | $3,569,539 | 68,160 | 0.09% | Shares |
| SCHRODER INVESTMENT MANAGEMENT GROUP | $3,411,427 | 63,433 | 0.09% | Shares |
| Retirement Systems of Alabama | $3,252,648 | 62,109 | 0.09% | Shares |
| MetLife Investment Management, LLC | $3,184,096 | 60,800 | 0.08% | Shares |
| JANE STREET GROUP, LLC | $3,113,658 | 59,455 | 0.08% | Shares |
| Schonfeld Strategic Advisors LLC | $2,972,153 | 56,753 | 0.08% | Shares |
| Aquatic Capital Management LLC | $2,967,598 | 56,666 | 0.08% | Shares |
| OCCUDO QUANTITATIVE STRATEGIES LP | $2,902,031 | 55,414 | 0.08% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $2,782,732 | 53,136 | 0.07% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $2,736,909 | 52,261 | 0.07% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $2,729,363 | 69,769 | 0.07% | Shares |
| CHOREO, LLC | $2,690,842 | 50,292 | 0.07% | Shares |
| Edgestream Partners, L.P. | $2,657,882 | 50,752 | 0.07% | Shares |
| CIBC Private Wealth Group LLC | $2,622,825 | 62,732 | 0.07% | Shares |
| Quantbot Technologies LP | $2,393,257 | 45,699 | 0.06% | Shares |
| Engineers Gate Manager LP | $2,175,188 | 41,535 | 0.06% | Shares |
| Rather & Kittrell, Inc. | $2,054,632 | 39,233 | 0.05% | Shares |
| INTECH INVESTMENT MANAGEMENT LLC | $2,006,662 | 38,317 | 0.05% | Shares |
| CastleKnight Management LP | $1,937,690 | 37,000 | 0.05% | Shares |
| GREAT LAKES ADVISORS, LLC | $1,880,450 | 35,907 | 0.05% | Shares |
| Covey Capital Advisors, LLC | $1,859,464 | 44,774 | 0.05% | Shares |
| Legal & General Group Plc | $1,813,101 | 34,621 | 0.05% | Shares |
| BRIGHTLIGHT CAPITAL MANAGEMENT LP | $1,790,914 | 45,780 | 0.05% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,744,497 | 33,311 | 0.05% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $1,692,284 | 32,314 | 0.05% | Shares |
| WESBANCO BANK INC | $1,682,229 | 32,122 | 0.04% | Shares |
| State of New Jersey Common Pension Fund D | $1,664,057 | 31,775 | 0.04% | Shares |
| CITADEL ADVISORS LLC | $1,602,522 | 30,600 | 0.04% | Call option |
| FORA Capital, LLC | $1,590,843 | 30,377 | 0.04% | Shares |
| Homestead Advisers Corp | $1,571,100 | 30,000 | 0.04% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $1,470,078 | 28,071 | 0.04% | Shares |
| PRUDENTIAL FINANCIAL INC | $1,460,337 | 27,885 | 0.04% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $1,408,334 | 26,892 | 0.04% | Shares |
| READYSTATE ASSET MANAGEMENT LP | $1,390,895 | 26,559 | 0.04% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $1,368,166 | 26,125 | 0.04% | Shares |
| Mitsubishi UFJ Trust & Banking Corp | $1,330,722 | 25,410 | 0.04% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $1,329,360 | 25,384 | 0.04% | Shares |
| ExodusPoint Capital Management, LP | $1,310,140 | 25,017 | 0.03% | Shares |
| JANE STREET GROUP, LLC | $1,298,776 | 24,800 | 0.03% | Call option |
| DARK FOREST CAPITAL MANAGEMENT LP | $1,268,873 | 24,229 | 0.03% | Shares |
Company insiders 24 insiders · 13 officers · 10 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Mark D Wang | Title: Chief Executive Officer | May 28, 2026 M | 904,241 | 0 | 1 | $-9,908,919 |
| Daniel Jason Mathewes | Title: Senior Executive Vice President and Chief Financial Officer | March 22, 2023 F | 89,359 | 0 | 0 | $0 |
| James Mikolaichik | Chief Financial Officer | March 9, 2018 F | 48,667 | 0 | 0 | $0 |
| Gordon Gurnik | Title: Senior Executive Vice President and Chief Operating Officer | March 22, 2023 F | 107,639 | 0 | 0 | $0 |
| Michael Dean Brown | EVP & Chief Operating Officer | March 9, 2017 A | 76,053 | 0 | 0 | $0 |
| Carlos Hernandez | Title: Senior Vice President and Chief Accounting Officer | Aug. 3, 2023 F | 10,764 | 0 | 0 | $0 |
| Jorge Pablo Brizi | Title: Executive Vice President and Chief Human Resources & Corporate Affairs Officer | March 22, 2023 F | 36,452 | 0 | 0 | $0 |
| Sherri A Silver | Executive Vice President & Chief Marketing Officer | May 20, 2021 M | 26,623 | 0 | 0 | $0 |
| Stan R. Soroka | Executive Vice President & Chief Customer Officer | May 7, 2021 M | 52,685 | 0 | 0 | $0 |
| Dennis A. Delorenzo | Executive Vice President & Chief Sales Officer | May 5, 2021 M | 59,667 | 0 | 0 | $0 |
| Matthew Abram Sparks | Title: Executive Vice President and Chief Development Officer | March 22, 2021 A | 18,628 | 0 | 0 | $0 |
| Barbara L. Hollkamp | Title: Executive Vice President and Chief Human Resources Officer | May 10, 2020 F | 53,639 | 0 | 0 | $0 |
| Allen J Klingsick | Title: SVP and Chief Accounting Officer | March 9, 2020 F | 17,859 | 0 | 0 | $0 |
| Christine Marie Duffy | Director | July 2, 2026 A | 3,190 | 0 | 0 | $0 |
| Leonard A. Potter | Director | May 3, 2023 A | 90,597 | 0 | 0 | $0 |
| David William Johnson | Director | May 3, 2023 A | 70,747 | 0 | 0 | $0 |
| Brenda J Bacon | Director | May 3, 2023 A | 30,597 | 0 | 0 | $0 |
| Mark H Lazarus | Director | May 3, 2023 A | 30,597 | 0 | 0 | $0 |
| Pamela H Patsley | Director | May 3, 2023 A | 30,597 | 0 | 0 | $0 |
| WHETSELL PAUL W | Director | May 3, 2023 A | 35,597 | 0 | 0 | $0 |
| Kenneth A Caplan | Director | Nov. 9, 2017 G | 8,552 | 0 | 0 | $0 |
| Yasheng Huang | Director | Aug. 9, 2017 A | 2,686 | 0 | 0 | $0 |
| Hilton Worldwide Holdings Inc. | 10% owner | Dec. 15, 2016 J | 0 | 0 | 0 | $0 |
| Charles R. Corbin Jr. | — | Aug. 6, 2026 S | 47,924 | 0 | 1 | $-970,408 |
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 |
|---|---|---|---|---|---|
| CAS Investment Partners, LLC, Sosin, LLC, Sosin Master, LP, CSWR Partners, LP, Clifford Sosin | Aug. 14, 2026 | 6.50% | Initial filing | Passive investment | SEC |
| Apollo Principal Holdings A GP, Ltd, AP Dakota Co-Invest, L.P., AP VIII Dakota Holdings Borrower, L.P., AP Dakota Co-Invest GP, LLC, AP VIII Dakota Holdings Borrower GP, LLC, AP VIII Dakota Holdings, L.P., Apollo Advisors VIII, L.P., Apollo Capital Management VIII, LLC, APH Holdings, L.P. ×3 filings | June 24, 2026 | 15.90% | Amendment | — | SEC |
| APO Corp., AP Fresco Aggregator, L.P., AP Fresco Aggregator GP, LLC, Apollo Principal Holdings B, L.P., Apollo Principal Holdings B GP, LLC, MAPS Equity Holdings, LLC, MAPS TopCo Holdings, LLC, MAPS Borrower, LLC, Apollo S3 Private Markets Fund, Apollo S3 RIC Management, L.P., Sliders Management GP, LLC, Apollo Capital Management, L.P., Apollo Capital Management GP, LLC, Apollo Management Holdings, L.P., Apollo Management Holdings GP, LLC | Aug. 27, 2025 | 23.60% | Initial filing | Passive investment | SEC |
| AP Dakota Co-Invest, L.P., AP VIII Dakota Holdings Borrower, L.P., AP Dakota Co-Invest GP, LLC, AP VIII Dakota Holdings Borrower GP, LLC, AP VIII Dakota Holdings, L.P., Apollo Advisors VIII, L.P., Apollo Capital Management VIII, LLC, APH Holdings, L.P., Apollo Principal Holdings A GP, Ltd. (1) ×2 filings | Nov. 27, 2024 | — | Initial filing | — | SEC |
| HNA Group Co., Ltd., HNA Tourism Group Co., Ltd., HNA Tourism (HK) Group Co., Ltd., HNA HLT Holdco III Limited, HNA HLT Holdco II LLC, HNA HLT Holdco I LLC ×4 filings | March 21, 2018 | — | Initial filing | — | SEC |
| HLT Holdco III LLC, HLT BREH VI Holdco LLC, HLT A23 Holdco LLC, HLT BREP VI.TE.2 Holdco LLC, HLT A23 BREH VI Holdco LLC, HLT BREH Intl II Holdco LLC, HLT Holdco II LLC, HLT Holdco LLC, HLT BREP VI.TE.2 Holdings Holdco LLC, HLT BREH VI-A Holdings Holdco LLC, HLT BREH Intl II Holdings Holdco LLC, BH Hotels Holdco LLC, Blackstone Real Estate Partners VI L.P., Blackstone Capital Partners V L.P., Blackstone Real Estate Partners VI.TE.2 L.P., Blackstone Real Estate Holdings VI L.P., Blackstone Real Estate Holdings International II-Q L.P., Blackstone Real Estate Associates VI L.P., BREA VI L.L.C., Blackstone Management Associates V L.L.C., BMA V L.L.C., BREP VI Side-by-Side GP L.L.C., BREP International II-Q GP L.P., BREP International II-Q GP L.L.C., Blackstone Holdings III L.P., Blackstone Holdings III GP L.P., Blackstone Holdings III GP Management L.L.C., The Blackstone Group L.P., Blackstone Group Management L.L.C., Stephen A. Schwarzman ×4 filings | Sept. 26, 2017 | — | 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 69 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 |
|---|---|---|---|---|
| LPRE · Exchange Listed Funds Trust | 2.71% | 81,676 NS | May 31, 2026 | N-PORT |
| PEJ · Invesco Exchange-Traded Fund Trust | 2.28% | 163,184 SH | Aug. 8, 2026 | Daily |
| RFG · Invesco Exchange-Traded Fund Trust | 0.79% | 62,413 SH | Aug. 8, 2026 | Daily |
| EBIT · Harbor ETF Trust | 0.30% | 727 NS | April 30, 2026 | N-PORT |
| NUSC · Nushares ETF Trust | 0.23% | 62,086 NS | April 30, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.20% | 124,248 SH | Aug. 8, 2026 | Daily |
| RWK · Invesco Exchange-Traded Fund Trust … | 0.19% | 55,387 SH | Aug. 8, 2026 | Daily |
| DFAT · Dimensional ETF Trust | 0.18% | 522,660 NS | April 30, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.18% | 95,725 NS | May 31, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.17% | 60,650 SH | Aug. 8, 2026 | Daily |
| FNDA · SCHWAB STRATEGIC TRUST | 0.17% | 286,801 NS | May 31, 2026 | N-PORT |
| IWO · iShares Trust | 0.16% | 514,999 SH | Aug. 8, 2026 | Daily |
| IVOG · VANGUARD ADMIRAL FUNDS | 0.16% | 59,253 SH | Aug. 8, 2026 | Daily |
| IJK · iShares Trust | 0.15% | 351,519 SH | Aug. 8, 2026 | Daily |
| BKSE · BNY Mellon ETF Trust | 0.14% | 2,443 NS | April 30, 2026 | N-PORT |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.14% | 35,396 NS | April 30, 2026 | N-PORT |
| MIDE · DBX ETF Trust | 0.13% | 81 NS | May 29, 2026 | N-PORT |
| VCR · VANGUARD WORLD FUND | 0.11% | 146,565 SH | Aug. 8, 2026 | Daily |
| ESML · iShares Trust | 0.10% | 60,160 SH | Aug. 8, 2026 | Daily |
| GSSC · Goldman Sachs ETF Trust | 0.09% | 17,717 NS | May 31, 2026 | N-PORT |
| PKW · Invesco Exchange-Traded Fund Trust | 0.09% | 35,313 SH | Aug. 8, 2026 | Daily |
| VBK · VANGUARD INDEX FUNDS | 0.09% | 835,825 SH | Aug. 8, 2026 | Daily |
| IVOO · VANGUARD ADMIRAL FUNDS | 0.09% | 96,904 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.09% | 326,297 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.09% | 268,934 NS | April 30, 2026 | N-PORT |
| XJH · iShares Trust | 0.09% | 8,166 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.09% | 26,372 NS | April 30, 2026 | N-PORT |
| QVMM · Invesco Exchange-Traded Fund Trust … | 0.09% | 8,293 SH | Aug. 8, 2026 | Daily |
| DFSV · Dimensional ETF Trust | 0.08% | 132,254 NS | April 30, 2026 | N-PORT |
| IWM · iShares Trust | 0.08% | 1,432,527 SH | Aug. 8, 2026 | Daily |
| EBI · RBB Fund Trust | 0.08% | 10,366 NS | May 31, 2026 | N-PORT |
| PTMC · Pacer Funds Trust | 0.08% | 6,672 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.08% | 2,863 NS | May 31, 2026 | N-PORT |
| IJH · iShares Trust | 0.08% | 2,071,541 SH | Aug. 8, 2026 | Daily |
| FDIS · FIDELITY COVINGTON TRUST | 0.08% | 28,499 NS | April 30, 2026 | N-PORT |
| MVV · ProShares Trust | 0.07% | 2,070 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.07% | 286,835 NS | May 31, 2026 | N-PORT |
| MIDU · Direxion Shares ETF Trust | 0.06% | 992 NS | April 30, 2026 | N-PORT |
| ISCV · iShares Trust | 0.05% | 7,973 SH | Aug. 8, 2026 | Daily |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.05% | 21,721 NS | April 30, 2026 | N-PORT |
| UMDD · ProShares Trust | 0.05% | 289 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.05% | 2,239 NS | May 31, 2026 | N-PORT |
| ISCB · iShares Trust | 0.04% | 2,652 SH | Aug. 8, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.04% | 3,426 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.04% | 687,990 SH | Aug. 8, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.04% | 1,448,515 SH | Aug. 8, 2026 | Daily |
| ISCG · iShares Trust | 0.03% | 7,420 SH | Aug. 8, 2026 | Daily |
| URTY · ProShares Trust | 0.03% | 2,265 NS | May 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.03% | 3,727 SH | Aug. 8, 2026 | Daily |
| DFUV · Dimensional ETF Trust | 0.02% | 75,270 NS | April 30, 2026 | N-PORT |