LBRDA Liberty Broadband Corporation - Class A Common Stock
$36.21
Price · Aug 19, 2026
Fundamentals as of Feb 5, 2026
52W Range
$26–$65
26% of range
Analyst Rating
HOLD
8 analysts
Price Target
—
P/E (TTM)
7.0
ROE
-34.5%
Net Profit Margin
—
About Liberty Broadband Corporation - Class A Common Stock Company overview from Wikipedia
LBRDA Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$36.21
Market Cap
—
P/E (TTM)
7.0
EPS (TTM)
$6.08
Revenue (TTM)
$1.02B
Div Yield
—
ROE
-34.5%
Debt/Equity
0.3
52W Range
$26 – $65
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$1.02B
2016-12-31
→
2024-12-31
EPS
$6.08
2016-12-31
→
2024-12-31
Free Cash Flow
—
2016-12-31
→
2024-12-31
Margins
—
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
LBRDA
Peer Median
P/E (TTM)
7.0
11.2
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
LBRDA
Peer Median
ROA
-21.0%
2.6%
ROE
-34.5%
7.1%
ROIC
-0.35%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
LBRDA
Peer Median
Debt / Equity
0.3
22.5
Current Ratio
0.1
0.7
Quick Ratio
0.1
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
LBRDA
Peer Median
Revenue YoY
3.6%
—
Revenue CAGR 3Y
0.94%
—
EPS YoY
29.9%
—
Net Income YoY
26.3%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
LBRDA
Peer Median
LBRDA Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
SELL
8 analysts
- Strong Buy 0 0.0%
- Buy 0 0.0%
- Hold 3 37.5%
- Sell 2 25.0%
- Strong Sell 3 37.5%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.69%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| Sept. 30, 2025 | $1.77 | $1.27 | 0.50% |
| June 30, 2025 | $2.68 | $1.42 | 1.3% |
| March 31, 2025 | $1.87 | $1.42 | 0.45% |
| Dec. 31, 2024 | $2.04 | $1.49 | 0.55% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| LBRDA | — | 7.0 | 3.6% | — | -34.5% | — |
| CCZ | — | — | — | — | — | — |
| ECHO | — | — | — | — | — | — |
| CHTR | — | 5.8 | -0.56% | 9.1% | 31.5% | — |
| SIRI | $6.70B | 9.0 | -1.6% | 9.4% | 7.1% | 52.4% |
| VSNT | — | — | -5.3% | 13.9% | 8.8% | — |
| OPTU | — | -0.4 | -4.1% | -21.8% | 134.3% | — |
| CABO | $636M | -1.8 | -5.0% | -23.7% | -25.7% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | · | $1.02B | $981M | $975M | $988M | $51M | $15M | $22M | $13M | $31M | $91M | $69M | |
| Cost of Revenue | · | · | · | · | · | · | · | · | · | · | · | $466.0K | |
| R&D Expense | · | · | · | · | · | · | · | $6M | $8M | $10M | $17M | $18M | |
| SG&A Expense | · | $432M | $399M | $395M | $442M | $76M | $33M | $23M | $24M | $35M | $43M | $48M | |
| Operating Expenses | · | $924M | $908M | $1.01B | $1.09B | $111M | $44M | $34M | $39M | $3M | $6M | $8M | |
| Operating Income | $-36M | $-50M | $-39M | $-39M | $-98M | $-60M | $-29M | $-12M | $-25M | $-21M | $59M | $-43M | |
| Interest Expense | · | · | $206M | $133M | $117M | $28M | $25M | $23M | $20M | $15M | $7M | $1M | |
| Other Non-op | $-1M | $12M | $23M | $-70M | $-6M | $3M | $1M | $963.0K | $1M | $336.0K | $158.0K | $-63.0K | |
| Pretax Income | $-3.25B | $983M | $823M | $1.53B | $950M | $361M | $155M | $92M | $2.45B | $1.48B | $-70M | $-202M | |
| Income Tax | $-923M | $187M | $175M | $277M | $218M | $-37M | $38M | $22M | $417M | $558M | $-20M | $-68M | |
| Net Income | $-2.68B | $869M | $688M | $1.26B | $732M | $398M | $117M | $70M | $2.03B | $917M | $-50M | $-135M | |
| EPS (Basic) | · | $6.08 | $4.71 | $8.01 | $3.97 | $2.18 | $0.65 | $0.39 | $11.19 | $6.03 | $-0.49 | $-1.52 | |
| EPS (Diluted) | · | $6.08 | $4.68 | $7.96 | $3.93 | $2.17 | $0.64 | $0.38 | $11.10 | $6.00 | $-0.49 | $-1.52 | |
| Shares (Basic) | 143,000,000 | 143,000,000 | 146,000,000 | 157,000,000 | 185,000,000 | 182,000,000 | 181,531,000 | 181,325,000 | 181,772,000 | 152,103,000 | 102,504,000 | 88,143,000 | |
| Shares (Diluted) | 143,000,000 | 143,000,000 | 147,000,000 | 158,000,000 | 186,000,000 | 183,000,000 | 182,784,000 | 182,589,000 | 183,146,000 | 152,852,000 | 102,998,000 | 88,773,000 | |
| EBITDA | $-36M | $299M | $303M | $223M | $169M | $-44M | $-27M | $-9M | $-22M | $-17M | $65M | $-34M |
Balance Sheet 25
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $57M | $89M | $79M | $375M | $191M | $1.42B | $50M | $83M | $81M | $206M | $655M | $45M | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | · | $9M | $9M | |
| Prepaid Expense | · | $65M | $94M | $84M | $62M | $79M | · | · | · | · | · | · | |
| Other Current Assets | · | · | · | · | · | $79M | $1M | $1M | $3M | $4M | $12M | $11M | |
| Current Assets | $103M | $423M | $430M | $660M | $459M | $1.85B | $52M | $85M | $84M | $258M | $678M | $69M | |
| PP&E (Net) | · | · | · | · | · | · | · | · | · | $710.0K | $1M | $4M | |
| PP&E (Gross) | · | · | · | · | · | · | · | · | · | $9M | $26M | $40M | |
| Accum. Depreciation | · | $679M | $530M | $385M | $196M | $10M | $977.0K | · | · | $8M | $25M | $36M | |
| Goodwill | · | $755M | $755M | $755M | $762M | $746M | $7M | $6M | · | $6M | $6M | $27M | |
| Intangibles | · | $411M | $461M | $516M | $573M | $675M | $888.0K | · | · | $9M | $12M | $13M | |
| Other Non-current Assets | · | $135M | $236M | $180M | $296M | $151M | $2M | $9M | $12M | $1M | $267.0K | $264.0K | |
| Total Assets | $8.83B | $16.69B | $15.64B | $15.14B | $16.97B | $21.37B | $12.26B | $12.10B | $11.93B | $9.59B | $3.57B | $3.00B | |
| Accounts Payable | · | $112M | $86M | $92M | $99M | $98M | $6M | $4M | $5M | $8M | $10M | $16M | |
| Current Liabilities | $987M | $200M | $178M | $1.68B | $582M | $612M | $12M | $8M | $11M | $412M | $15M | $100M | |
| Capital Leases | · | $60M | $56M | $65M | $102M | $61M | · | · | · | · | · | · | |
| Deferred Tax | $1.16B | $2.03B | $2.22B | $2.04B | $2.00B | $1.98B | $1000M | $966M | $933M | $505M | · | · | |
| Other Non-current Liabilities | · | $152M | $141M | $150M | $189M | $147M | $2M | $3M | $4M | $3M | · | · | |
| Total Liabilities | $3.13B | $6.88B | $6.62B | $6.64B | $6.83B | $7.86B | $1.59B | $1.50B | $1.44B | $1.12B | $418M | $509M | |
| Long-term Debt | $1.75B | $2.69B | $3.74B | $3.80B | $3.76B | $4.82B | $573M | $523M | $497M | $199M | $400M | $372M | |
| Total Debt | $1.75B | $3.76B | $3.74B | $3.80B | $3.76B | $4.82B | · | · | · | $400M | · | · | |
| Paid-in Capital | $1.65B | $3.01B | $3.11B | $3.32B | $6.21B | $10.32B | $7.89B | $7.94B | $7.91B | $7.95B | $3.54B | $2.84B | |
| Retained Earnings | $4.04B | $6.71B | $5.84B | $5.16B | $3.90B | $3.17B | $2.77B | $2.65B | $2.57B | $518M | $-400M | $-349M | |
| AOCI | $15M | $73M | $52M | $9M | $14M | $15M | $8M | $8M | $8M | $8M | $9M | $8M | |
| Stockholders' Equity | $5.70B | $9.79B | $9.00B | $8.48B | $10.13B | $13.50B | $10.67B | $10.60B | $10.49B | $8.47B | $3.15B | $2.49B | |
| Liabilities + Equity | $8.83B | $16.69B | $15.64B | $15.14B | $16.97B | $21.37B | $12.26B | $12.10B | $11.93B | $9.59B | $3.57B | $3.00B |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | $207M | $230M | $262M | $267M | $15M | $2M | $3M | $4M | $4M | $6M | $9M | |
| Stock-based Comp | $5M | $15M | $15M | $37M | $41M | $9M | $10M | $6M | $5M | $6M | $6M | $999.0K | |
| Deferred Tax | $-851M | $180M | $155M | $54M | $-15M | $-37M | $38M | $22M | $417M | $561M | $-25M | $-67M | |
| Amort. of Intangibles | · | $60M | $64M | $67M | $75M | $6M | $2M | $3M | · | $3M | $3M | $6M | |
| Other Non-cash | · | $-1.17B | $-1.10B | $-1.67B | $-1.02B | $-481M | $-205M | $-126M | $-2.49B | · | · | $194M | |
| Operating Cash Flow | $-327M | $-174M | $-261M | $-56M | $3M | $-96M | $-37M | $-26M | $-30M | $-12M | $35M | $3M | |
| CapEx | · | $247M | $222M | $181M | $134M | $2M | $1M | $41.0K | $70.0K | $267.0K | $731.0K | $1M | |
| Investing Cash Flow | · | $130M | $150M | $3.05B | $4.06B | $575M | $-1M | $-41.0K | $-56.0K | $-4.99B | $-2M | · | |
| Debt Issued | $695M | $984M | $1.50B | $325M | $1.47B | $2.83B | $50M | $158M | $500M | $200M | $68M | $372M | |
| Net Debt Issued | $-952M | $1.14B | $1.50B | $325M | $1.47B | $2.83B | $50M | $158M | $500M | $200M | $68M | $372M | |
| Stock Repurchased | · | $89M | $227M | $2.88B | $4.27B | $597M | · | · | · | · | · | · | |
| Net Stock Activity | · | $-89M | $-227M | $-2.88B | $-4.27B | $-597M | · | · | · | · | · | · | |
| Financing Cash Flow | · | $-181M | $-390M | $-2.80B | $-5.29B | $904M | $5M | $28M | $-94M | $4.55B | $577M | · | |
| Net Change in Cash | · | · | · | · | · | · | · | · | $-124M | $-449M | $610M | $36M | |
| Taxes Paid | $117M | $20M | $46M | $266M | $238M | $3.0K | $5.0K | · | · | · | · | · | |
| Free Cash Flow | · | $-143M | $-206M | $-237M | $-131M | $-98M | $-38M | $-26M | $-30M | $-12M | $33M | $1M | |
| Levered FCF | · | · | $-366M | $-346M | $-221M | $-129M | $-57M | $-44M | $-46M | $-21M | $28M | $572.8K |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | 9.1% | 7.4% | -4.0% | -9.9% | -117.7% | -197.0% | -54.0% | -194.6% | -69.2% | 64.7% | -62.2% | |
| Net Margin | · | 85.5% | 70.1% | 128.9% | 74.1% | 784.2% | 788.9% | 314.3% | 15533.7% | · | · | -194.9% | |
| Pretax Margin | · | 106.5% | 90.5% | 157.3% | 96.2% | 712.3% | 1044.2% | 412.8% | 18718.3% | 4824.7% | -76.8% | -293.0% | |
| EBITDA Margin | · | 29.4% | 30.9% | 22.9% | 17.1% | -87.6% | -184.4% | -41.5% | -165.8% | -56.1% | 71.3% | -49.1% | |
| ROA | -21.0% | 5.4% | 4.5% | 7.8% | 3.8% | 2.4% | 0.96% | 0.58% | 18.9% | · | · | -4.5% | |
| ROE | -34.5% | 9.2% | 7.9% | 13.5% | 6.2% | 3.3% | 1.1% | 0.66% | 21.4% | · | · | -5.1% | |
| ROIC | -0.35% | 0.55% | 0.44% | -0.26% | -0.54% | -0.36% | -0.21% | -0.09% | -0.20% | -0.15% | 1.3% | -1.1% |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.1 | 2.1 | 2.4 | 0.4 | 0.8 | 3.0 | 4.3 | 10.3 | 8.0 | 0.6 | 44.1 | 0.8 | |
| Quick Ratio | 0.1 | 0.8 | 0.9 | 0.2 | 0.3 | 2.3 | 4.1 | 10.1 | 7.7 | 0.5 | 43.2 | 0.5 | |
| Debt / Equity | 0.3 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | · | · | · | 0.0 | · | · | |
| LT Debt / Equity | 0.1 | 0.4 | 0.4 | 0.3 | 0.4 | 0.4 | · | · | · | · | · | · | |
| Interest Coverage | · | · | 0.4 | -0.3 | -0.8 | -2.1 | -1.2 | -0.5 | -1.3 | -1.4 | 7.9 | -37.8 |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Growth Rates 6
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | · | 3.6% | 0.62% | -1.3% | 1837.2% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | · | 0.94% | 167.9% | · | · | · | · | · | · | · | · | · | |
| EPS YoY | · | 29.9% | -41.2% | 102.5% | 81.1% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | · | 15.7% | 29.2% | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | · | 26.3% | -45.3% | 71.7% | 83.9% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | · | 5.9% | 20.0% | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.03B | $1.02B | $981M | $975M | $988M | $51M | $15M | $22M | $13M | $31M | $91M | $69M | |
| Net Income TTM | $-2.68B | $869M | $688M | $1.26B | $732M | $398M | $117M | $70M | $2.03B | $917M | $-50M | $-135M | |
| P/E | 7.0 | 11.5 | 16.1 | 8.9 | 38.4 | 68.1 | 182.4 | 177.1 | 7.2 | 11.3 | -98.8 | -30.9 | |
| Earnings Yield | 14.3% | 8.7% | 6.2% | 11.2% | 2.6% | 1.5% | 0.55% | 0.56% | 13.9% | 8.8% | -1.0% | -3.2% |
Income Statement 14
| Metric | Trend | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | · | · | $261M | $266M | · | $262M | $246M | $245M | $240M | $245M | $246M | $250M | $248M | $239M | $238M | $249M | |
| SG&A Expense | · | · | $104M | $109M | · | $113M | $104M | $98M | $105M | $107M | $110M | $78M | $111M | $105M | $101M | $117M | |
| Operating Expenses | · | · | $220M | $223M | · | $232M | $225M | $217M | $219M | $222M | $230M | $283M | $260M | $240M | $231M | $269M | |
| Operating Income | $-5M | $-8M | $-10M | $-13M | $-21M | $-11M | $-9M | $-9M | $21M | $23M | $16M | $-33M | $-12M | $-1M | $7M | $-20M | |
| Interest Expense | · | · | · | · | · | · | · | $51M | $54M | $52M | $45M | · | $35M | $30M | $26M | $27M | |
| Other Non-op | $-1M | $-5M | $7M | $-2M | $-2M | $2M | $8M | $4M | $6M | $2M | $14M | $3M | $-34M | $-18M | $-21M | $-24M | |
| Pretax Income | $-4.19B | $255M | $414M | $264M | $269M | $152M | $253M | $309M | $208M | $326M | $92M | $232M | $376M | $582M | $344M | $487M | |
| Income Tax | · | · | $31M | $-4M | $29M | $32M | $58M | $68M | $46M | $74M | $23M | $54M | $61M | $117M | $45M | $100M | |
| Net Income | $-3.17B | $-154M | $383M | $268M | $291M | $142M | $195M | $241M | $162M | $252M | $69M | $178M | $315M | $465M | $299M | $387M | |
| EPS (Basic) | · | · | $2.68 | $1.87 | · | $0.99 | $1.36 | $1.69 | $1.11 | $1.73 | $0.47 | $1.26 | $2.07 | $2.89 | $1.79 | $2.09 | |
| EPS (Diluted) | · | · | $2.68 | $1.87 | · | $0.99 | $1.36 | $1.69 | $1.10 | $1.71 | $0.47 | $1.27 | $2.05 | $2.87 | $1.77 | $2.07 | |
| Shares (Basic) | -286,000,000 | 143,000,000 | 143,000,000 | 143,000,000 | -286,000,000 | 143,000,000 | 143,000,000 | 143,000,000 | 146,000,000 | 146,000,000 | 146,000,000 | -323,000,000 | 152,000,000 | 161,000,000 | 167,000,000 | -378,000,000 | |
| Shares (Diluted) | -287,000,000 | 144,000,000 | 143,000,000 | 143,000,000 | -286,000,000 | 143,000,000 | 143,000,000 | 143,000,000 | 147,000,000 | 147,000,000 | 147,000,000 | -327,000,000 | 154,000,000 | 162,000,000 | 169,000,000 | -383,000,000 | |
| EBITDA | · | $-8M | $93M | $96M | · | $85M | $73M | $78M | $76M | $79M | $74M | · | $54M | $64M | $71M | · |
Balance Sheet 19
| Metric | Trend | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $57M | $73M | $180M | $226M | $89M | $168M | $73M | $108M | $88M | $81M | $169M | $375M | $203M | $301M | $300M | $191M | |
| Prepaid Expense | · | · | $51M | $397M | · | $63M | $60M | $56M | $122M | $129M | $91M | · | $79M | $71M | $77M | · | |
| Current Assets | $103M | $85M | $364M | $797M | $423M | $417M | $309M | $350M | $430M | $393M | $454M | · | $492M | $551M | $546M | · | |
| Goodwill | · | · | $755M | $755M | · | $755M | $755M | $755M | $755M | $755M | $755M | $755M | $755M | $755M | $762M | $762M | |
| Intangibles | · | · | $392M | $401M | · | $423M | $436M | $449M | $477M | $492M | $506M | · | $532M | $546M | $559M | · | |
| Other Non-current Assets | · | $57M | $227M | $227M | · | $226M | $224M | $237M | $251M | $253M | $206M | · | $177M | $191M | $201M | · | |
| Total Assets | $8.83B | $13.19B | $16.59B | $17.00B | $16.69B | $16.30B | $15.96B | $15.74B | $15.77B | $15.41B | $15.13B | · | $15.12B | $15.74B | $16.63B | · | |
| Accounts Payable | · | · | $107M | $105M | · | $112M | $101M | $94M | $104M | $92M | $86M | · | $113M | $100M | $97M | · | |
| Current Liabilities | $987M | $350M | $604M | $573M | $200M | $201M | $184M | $193M | $229M | $194M | $293M | · | $244M | $448M | $537M | · | |
| Deferred Tax | $1.16B | $2.08B | $2.37B | $2.37B | $2.03B | $2.34B | $2.31B | $2.25B | $2.18B | $2.15B | $2.07B | · | $2.01B | $2.00B | $2.00B | · | |
| Other Non-current Liabilities | · | · | $129M | $144M | · | $140M | $139M | $139M | $147M | $152M | $155M | · | $156M | $166M | $177M | · | |
| Total Liabilities | $3.13B | $4.32B | $6.18B | $6.93B | $6.88B | $6.76B | $6.60B | $6.58B | $6.77B | $6.57B | $6.54B | · | $6.54B | $6.71B | $7.03B | · | |
| Long-term Debt | $1.75B | $1.79B | $3.07B | $3.81B | $2.69B | $3.71B | $3.61B | $3.64B | $3.87B | $3.73B | $3.68B | · | $3.78B | $3.77B | $4.01B | · | |
| Total Debt | · | $1.79B | $3.07B | $3.81B | · | $3.71B | $3.61B | $3.64B | $3.87B | $3.73B | $3.68B | · | $3.78B | $3.77B | $4.01B | · | |
| Paid-in Capital | $1.65B | $1.64B | $3.01B | $3.01B | $3.01B | $3.03B | $3.02B | $3.02B | $3.29B | $3.29B | $3.28B | · | $3.56B | $4.32B | $5.38B | · | |
| Retained Earnings | $4.04B | $7.21B | $7.36B | $6.98B | $6.71B | $6.42B | $6.28B | $6.08B | $5.64B | $5.48B | $5.22B | · | $4.98B | $4.66B | $4.20B | · | |
| AOCI | $15M | $22M | $24M | $60M | $73M | $70M | $40M | $35M | $45M | $56M | $59M | · | $18M | $30M | $10M | · | |
| Stockholders' Equity | $5.70B | $8.87B | $10.40B | $10.05B | $9.79B | $9.52B | $9.34B | $9.14B | $8.98B | $8.82B | $8.57B | · | $8.56B | $9.01B | $9.58B | · | |
| Liabilities + Equity | $8.83B | $13.19B | $16.59B | $17.00B | $16.69B | $16.30B | $15.96B | $15.74B | $15.77B | $15.41B | $15.13B | · | $15.12B | $15.74B | $16.63B | · |
Cash Flow 15
| Metric | Trend | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | $52M | $53M | · | $55M | $52M | $50M | $55M | $56M | $58M | $67M | $66M | $65M | $64M | $68M | |
| Stock-based Comp | $1M | $-5M | $6M | $3M | $4M | $-3M | $7M | $7M | $9M | $8M | $8M | $9M | $10M | $9M | $9M | $10M | |
| Deferred Tax | $-923M | $73M | $17M | $-18M | $42M | $37M | $57M | $44M | $42M | $73M | $22M | $38M | $15M | $-5M | $6M | $-4M | |
| Amort. of Intangibles | · | · | $15M | $14M | · | $15M | $15M | $15M | $16M | $16M | $16M | $17M | $17M | $16M | $17M | $19M | |
| Other Non-cash | · | · | · | $-228M | · | · | · | $-290M | · | · | $-116M | · | · | · | $-288M | · | |
| Operating Cash Flow | $-231M | $-265M | $91M | $78M | $-54M | $-199M | $27M | $52M | $9M | $-96M | $41M | $4M | $-78M | $-72M | $90M | $-133M | |
| CapEx | · | · | $54M | $65M | · | $60M | $62M | $61M | $52M | $43M | $54M | $49M | $54M | $46M | $32M | $43M | |
| Investing Cash Flow | · | · | $254M | $257M | · | $73M | $-22M | $18M | $-48M | $-69M | $-12M | $410M | $742M | $1.32B | $574M | $1.49B | |
| Debt Issued | $195M | $-691M | $740M | $451M | $0 | $718M | $246M | $20M | $50M | $203M | $1.25B | $25M | $0 | $0 | $300M | $400M | |
| Net Debt Issued | · | · | · | $451M | · | · | · | $20M | · | · | $1.25B | · | · | · | $300M | · | |
| Stock Repurchased | · | · | · | · | $0 | $0 | $0 | $89M | $0 | $0 | $40M | $241M | $751M | $1.05B | $843M | $1.36B | |
| Net Stock Activity | · | · | · | · | · | · | · | $-89M | · | · | $-40M | · | · | · | $-843M | · | |
| Financing Cash Flow | · | · | $-714M | $1M | · | $-2M | $-40M | $-132M | $46M | $74M | $-235M | $-248M | $-753M | $-1.25B | $-548M | $-1.60B | |
| Free Cash Flow | · | · | · | $13M | · | · | · | $-9M | · | · | $-13M | · | · | · | $58M | · | |
| Levered FCF | · | · | · | · | · | · | · | $-49M | · | · | $-47M | · | · | · | $35M | · |
Profitability 7
| Metric | Trend | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | · | 15.7% | 16.2% | · | 11.5% | 8.5% | 11.4% | 8.8% | 9.4% | 6.5% | · | -4.8% | -0.42% | 2.9% | · | |
| Net Margin | · | · | 146.7% | 100.8% | · | 54.2% | 79.3% | 98.4% | 67.5% | 102.9% | 28.1% | · | 127.0% | 194.6% | 125.6% | · | |
| Pretax Margin | · | · | 158.6% | 99.2% | · | 69.1% | 102.8% | 126.1% | 86.7% | 133.1% | 37.4% | · | 151.6% | 243.5% | 144.5% | · | |
| EBITDA Margin | · | · | 35.6% | 36.1% | · | 32.4% | 29.7% | 31.8% | 31.7% | 32.2% | 30.1% | · | 21.8% | 26.8% | 29.8% | · | |
| ROA | · | -1.0% | 2.4% | 1.6% | · | 0.89% | 1.2% | 1.6% | 1.1% | 1.6% | 0.43% | · | 1.9% | 2.7% | 1.6% | · | |
| ROE | · | -1.7% | 3.9% | 2.8% | · | 1.5% | 2.1% | 2.7% | 1.8% | 2.8% | 0.76% | · | 3.2% | 4.5% | 2.7% | · | |
| ROIC | · | · | 0.28% | 0.31% | · | 0.18% | 0.12% | 0.17% | 0.13% | 0.14% | 0.10% | · | -0.08% | -0.01% | 0.04% | · |
Liquidity & Solvency 5
| Metric | Trend | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | · | 0.2 | 0.6 | 1.4 | · | 2.1 | 1.7 | 1.8 | 1.9 | 2.0 | 1.5 | · | 2.0 | 1.2 | 1.0 | · | |
| Quick Ratio | · | 0.2 | 0.3 | 0.4 | · | 0.8 | 0.4 | 0.6 | 0.4 | 0.4 | 0.6 | · | 0.8 | 0.7 | 0.6 | · | |
| Debt / Equity | · | 0.2 | 0.3 | 0.4 | · | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | |
| LT Debt / Equity | · | 0.2 | 0.3 | 0.3 | · | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | |
| Interest Coverage | · | · | · | · | · | · | · | 0.5 | 0.4 | 0.4 | 0.4 | · | -0.3 | -0.0 | 0.3 | · |
Efficiency 1
| Metric | Trend | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | · | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · |
Valuation (TTM) 4
| Metric | Trend | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | · | $1.03B | $1.03B | $1.02B | · | $993M | $976M | $976M | $979M | $978M | $971M | · | $975M | $969M | $977M | · | |
| Net Income TTM | · | $788M | $1.08B | $896M | · | $740M | $850M | $724M | $798M | $1.10B | $1.15B | · | $1.32B | $1.06B | $644M | · | |
| P/E | · | 9.2 | 13.3 | 13.5 | · | 14.0 | 8.7 | 10.8 | 16.0 | 10.5 | 10.7 | · | 8.8 | 17.1 | 33.8 | · | |
| Earnings Yield | · | 10.9% | 7.5% | 7.4% | · | 7.1% | 11.5% | 9.3% | 6.3% | 9.5% | 9.3% | · | 11.4% | 5.9% | 3.0% | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | — | $1.02B | $981M | $975M | $988M |
| Operating Margin % | — | 9.1% | 7.4% | -4.0% | -9.9% |
| Net Income | $-2.68B | $869M | $688M | $1.26B | $732M |
| Diluted EPS | — | $6.08 | $4.68 | $7.96 | $3.93 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.3 | 0.4 | 0.4 | 0.4 | 0.4 |
| Current Ratio | 0.1 | 2.1 | 2.4 | 0.4 | 0.8 |
| Quick Ratio | 0.1 | 0.8 | 0.9 | 0.2 | 0.3 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | — | $-143M | $-206M | $-237M | $-131M |
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Institutional owners (13F) 217 filers · $502.7M 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 |
|---|---|---|---|---|
| 33 (-9 vs prior Q) | 40 (+15 vs prior Q) | 59 (-13 vs prior Q) | 52 (+6 vs prior Q) | +59K |
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 |
|---|---|---|---|---|
| FPR PARTNERS LLC | $68,146,030 | 801,718 | 13.56% | Shares |
| ARISTEIA CAPITAL, L.L.C. | $41,930,770 | 1,259,939 | 8.34% | Shares |
| ALLIANCEBERNSTEIN L.P. | $36,688,020 | 730,546 | 7.30% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $27,667,594 | 831,358 | 5.50% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $25,071,788 | 753,359 | 4.99% | Shares |
| JNE Partners LLP | $21,137,958 | 635,155 | 4.21% | Shares |
| MILLENNIUM MANAGEMENT LLC | $16,878,884 | 507,178 | 3.36% | Shares |
| Verition Fund Management LLC | $16,642,163 | 500,065 | 3.31% | Shares |
| Empyrean Capital Partners, LP | $16,640,000 | 500,000 | 3.31% | Shares |
| Squarepoint Ops LLC | $15,080,832 | 453,150 | 3.00% | Shares |
| STATE STREET CORP | $12,573,350 | 377,805 | 2.50% | Shares |
| Long Focus Capital Management, LLC | $12,480,000 | 375,000 | 2.48% | Shares |
| WHITEBOX ADVISORS LLC | $11,583,969 | 348,076 | 2.30% | Shares |
| Slotnik Capital, LLC | $9,364,593 | 281,388 | 1.86% | Shares |
| EAGLE CAPITAL MANAGEMENT LLC | $8,908,823 | 267,693 | 1.77% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $8,759,956 | 263,104 | 1.74% | Shares |
| WITTENBERG INVESTMENT MANAGEMENT, INC. | $8,640,287 | 259,624 | 1.72% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $7,794,742 | 234,217 | 1.55% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $7,445,568 | 223,725 | 1.48% | Shares |
| NORGES BANK | $7,174,702 | 215,586 | 1.43% | Shares |
| Qube Research & Technologies Ltd | $6,981,512 | 209,781 | 1.39% | Shares |
| CAPSTONE INVESTMENT ADVISORS, LLC | $6,656,000 | 200,000 | 1.32% | Shares |
| Alpine Global Management, LLC | $6,574,497 | 197,551 | 1.31% | Shares |
| Transmarket Holdings LP | $6,211,213 | 186,635 | 1.24% | Shares |
| Fort Baker Capital Management LP | $5,844,035 | 175,602 | 1.16% | Shares |
| Pentwater Capital Management LP | $5,657,600 | 170,000 | 1.13% | Shares |
| Boussard & Gavaudan Investment Management LLP | $4,973,953 | 101,035 | 0.99% | Shares |
| BISLETT MANAGEMENT, LLC | $4,659,200 | 140,000 | 0.93% | Shares |
| Quantinno Capital Management LP | $4,520,007 | 135,817 | 0.90% | Shares |
| GABELLI & Co INVESTMENT ADVISERS, INC. | $4,160,000 | 125,000 | 0.83% | Shares |
| WEITZ INVESTMENT MANAGEMENT, INC. | $4,118,400 | 123,750 | 0.82% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $3,702,633 | 111,257 | 0.74% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $3,238,843 | 97,321 | 0.64% | Shares |
| Yakira Capital Management, Inc. | $3,222,968 | 96,844 | 0.64% | Shares |
| GAMCO INVESTORS, INC. ET AL | $3,166,026 | 95,133 | 0.63% | Shares |
| GABELLI FUNDS LLC | $3,072,509 | 92,323 | 0.61% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $2,685,030 | 80,680 | 0.53% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $2,673,083 | 80,321 | 0.53% | Shares |
| Ruane, Cunniff & Goldfarb L.P. | $2,460,890 | 73,945 | 0.49% | Shares |
| Amundi | $2,232,389 | 67,079 | 0.44% | Shares |
| CREDIT INDUSTRIEL ET COMMERCIAL | $2,208,860 | 66,372 | 0.44% | Shares |
| Hall Kathryn A. | $1,606,619 | 25,369 | 0.32% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,536,737 | 46,176 | 0.31% | Shares |
| FIRST MANHATTAN CO. LLC. | $1,438,994 | 43,239 | 0.29% | Shares |
| TORONTO DOMINION BANK | $1,336,159 | 40,149 | 0.27% | Shares |
| Westchester Capital Management, LLC | $1,329,603 | 39,952 | 0.26% | Shares |
| BlackRock, Inc. | $1,262,477 | 37,935 | 0.25% | Shares |
| LMR Partners LLP | $1,159,708 | 34,847 | 0.23% | Shares |
| Swiss National Bank | $1,098,240 | 33,000 | 0.22% | Shares |
| Mariner, LLC | $1,063,829 | 31,966 | 0.21% | Shares |
| MARSHALL WACE, LLP | $1,017,436 | 30,572 | 0.20% | Shares |
| VARCOV Co. | $998,533 | 30,004 | 0.20% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $944,086 | 18,799 | 0.19% | Shares |
| Wedmont Private Capital | $939,790 | 30,642 | 0.19% | Shares |
| XTX Topco Ltd | $819,021 | 24,610 | 0.16% | Shares |
| Trexquant Investment LP | $817,856 | 24,575 | 0.16% | Shares |
| IEQ CAPITAL, LLC | $601,669 | 18,079 | 0.12% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $592,948 | 11,807 | 0.12% | Shares |
| OCCUDO QUANTITATIVE STRATEGIES LP | $588,790 | 17,692 | 0.12% | Shares |
| VANGUARD GROUP INC | $578,394 | 11,980 | 0.12% | Shares |
| BANK OF AMERICA CORP /DE/ | $575,178 | 17,283 | 0.11% | Shares |
| JPMORGAN CHASE & CO | $545,352 | 15,140 | 0.11% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $530,350 | 15,936 | 0.11% | Shares |
| RHUMBLINE ADVISERS | $523,908 | 15,743 | 0.10% | Shares |
| GOLDMAN SACHS GROUP INC | $502,894 | 15,111 | 0.10% | Shares |
| BARCLAYS PLC | $458,466 | 13,776 | 0.09% | Shares |
| AlphaQuest LLC | $445,673 | 9,231 | 0.09% | Shares |
| Summit Trail Advisors, LLC | $443,689 | 13,332 | 0.09% | Shares |
| Dynasty Wealth Management, LLC | $442,624 | 13,300 | 0.09% | Shares |
| Farringdon Capital, Ltd. | $406,682 | 12,220 | 0.08% | Shares |
| Deltroit Asset Management (UK) LLP | $406,582 | 12,217 | 0.08% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $403,853 | 12,135 | 0.08% | Shares |
| FMR LLC | $396,897 | 11,926 | 0.08% | Shares |
| JANUS HENDERSON GROUP PLC | $386,463 | 7,700 | 0.08% | Shares |
| CWM, LLC | $361,082 | 7,190 | 0.07% | Shares |
| AMERICAN CENTURY COMPANIES INC | $338,757 | 10,179 | 0.07% | Shares |
| MARK ASSET MANAGEMENT LP | $317,724 | 9,547 | 0.06% | Shares |
| JBF Capital, Inc. | $299,520 | 9,000 | 0.06% | Shares |
| ALLSTATE CORP | $299,354 | 8,995 | 0.06% | Shares |
| Police & Firemen's Retirement System of New Jersey | $271,931 | 8,171 | 0.05% | Shares |
| Vanguard Global Advisers, LLC | $252,961 | 7,601 | 0.05% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $251,331 | 7,552 | 0.05% | Shares |
| Legal & General Group Plc | $238,484 | 7,166 | 0.05% | Shares |
| Invesco Ltd. | $230,863 | 6,937 | 0.05% | Shares |
| Frec Markets, Inc. | $228,168 | 6,856 | 0.05% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $227,878 | 7,430 | 0.05% | Shares |
| D. E. Shaw & Co., Inc. | $227,136 | 6,825 | 0.05% | Shares |
| Schonfeld Strategic Advisors LLC | $212,458 | 6,384 | 0.04% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $199,813 | 6,004 | 0.04% | Shares |
| CIBC Private Wealth Group LLC | $165,988 | 2,621 | 0.03% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $165,868 | 4,984 | 0.03% | Shares |
| UBS Group AG | $156,948 | 4,716 | 0.03% | Shares |
| Vanguard Investments Australia, Ltd. | $148,662 | 4,467 | 0.03% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $141,507 | 4,252 | 0.03% | Shares |
| KLP KAPITALFORVALTNING AS | $116,480 | 3,500 | 0.02% | Shares |
| PNC Financial Services Group, Inc. | $115,182 | 3,461 | 0.02% | Shares |
| US BANCORP \DE\ | $103,335 | 3,105 | 0.02% | Shares |
| BARTLETT & CO. WEALTH MANAGEMENT LLC | $101,937 | 3,063 | 0.02% | Shares |
| Cerity Partners LLC | $99,008 | 2,975 | 0.02% | Shares |
| Lindbrook Capital, LLC | $90,355 | 1,063 | 0.02% | Shares |
Company insiders 17 insiders · 2 officers · 2 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Christopher W Shean | Chief Financial Officer | March 29, 2016 M | 25,248 | 0 | 0 | $0 |
| Richard N Baer | Chief Legal Officer | Jan. 3, 2017 M | 0 | 0 | 0 | $0 |
| Liberty Broadband Corporation | Director | Dec. 29, 2025 A | 3,286,825 | 0 | 0 | $0 |
| Donne F Fisher | Director | May 28, 2015 M | 32,925 | 0 | 0 | $0 |
| David J Wargo | — | Feb. 18, 2026 S | 20,057 | 0 | 9 | $-4,198,939 |
| Martin Edward Patterson | — | Dec. 9, 2025 M | 2,716 | 0 | 0 | $0 |
| Renee L Wilm | — | Dec. 9, 2025 M | 10,672 | 0 | 0 | $0 |
| Brian J Wendling | — | Dec. 9, 2025 M | 14,555 | 0 | 0 | $0 |
| Julie D. Frist | — | July 17, 2025 J | 450 | 0 | 0 | $0 |
| Sue Ann Hamilton | — | July 17, 2025 J | — | 0 | 0 | $0 |
| John E Welsh III | — | July 17, 2025 J | 3,917 | 0 | 0 | $0 |
| Gregg L Engles | — | July 17, 2025 J | 4,097 | 0 | 0 | $0 |
| Malone John C | — | July 14, 2025 A | 6,746,933 | 0 | 0 | $0 |
| Gregory B Maffei | — | Dec. 19, 2024 S | 1,398,523 | 0 | 0 | $0 |
| Richard R Green | — | Dec. 11, 2024 M | 7,301 | 0 | 0 | $0 |
| Albert E Rosenthaler | — | March 15, 2023 F | 72,190 | 0 | 0 | $0 |
| Mark D Carleton | — | May 15, 2019 M | 50,483 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 4 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 |
|---|---|---|---|---|---|
| Liberty Broadband Corporation ×4 filings | Dec. 31, 2025 | 0.00% | Amendment | Board campaign | SEC |
| John C. Malone ×12 filings | July 16, 2025 | 6.80% | Amendment | Passive investment | SEC |
| Gregory B. Maffei ×5 filings | May 13, 2024 | — | Initial filing | Passive investment | SEC |
| Ronald A. Duncan | Dec. 23, 2020 | — | Initial filing | M&A / sale | 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 47 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 |
|---|---|---|---|---|
| TAX · EA Series Trust | 0.74% | 5,564 NS | May 29, 2026 | N-PORT |
| FCOM · FIDELITY COVINGTON TRUST | 0.04% | 17,441 NS | April 30, 2026 | N-PORT |
| BKMC · BNY Mellon ETF Trust | 0.03% | 4,305 NS | April 30, 2026 | N-PORT |
| DFSV · Dimensional ETF Trust | 0.01% | 27,906 NS | April 30, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.01% | 48,982 NS | April 30, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.01% | 6,886 NS | April 30, 2026 | N-PORT |
| AVMC · AMERICAN CENTURY ETF TRUST | 0.01% | 747 NS | May 31, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.01% | 4,728 NS | May 31, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.00% | 489 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 699 NS | May 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.00% | 1,386 NS | April 30, 2026 | N-PORT |
| DFUV · Dimensional ETF Trust | 0.00% | 7,552 NS | April 30, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 700 NS | April 30, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 14,337 NS | April 30, 2026 | N-PORT |
| GVUS · Goldman Sachs ETF Trust | 0.00% | 133 NS | May 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 2,752 NS | April 30, 2026 | N-PORT |
| AVSU · AMERICAN CENTURY ETF TRUST | 0.00% | 116 NS | May 31, 2026 | N-PORT |
| GUSA · Goldman Sachs ETF Trust II | 0.00% | 560 NS | May 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 3,697 NS | April 30, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 501 NS | April 30, 2026 | N-PORT |
| GGUS · Goldman Sachs ETF Trust | 0.00% | 89 NS | May 31, 2026 | N-PORT |
| MSLC · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 524 NS | May 31, 2026 | N-PORT |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.00% | 1,489 NS | May 31, 2026 | N-PORT |
| EBI · RBB Fund Trust | 0.00% | 23 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VBR · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | — | — | July 15, 2026 | Daily |
| VONE · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| VONV · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| ITOT · iShares Trust | — | — | July 22, 2026 | Daily |
| IYZ · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IWS · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IWR · iShares Trust | — | — | Aug. 6, 2026 | Daily |
| IWV · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IWD · iShares Trust | — | — | Aug. 14, 2026 | Daily |
| IWB · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| PFF · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| SMMD · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| VOX · VANGUARD WORLD FUND | — | — | July 20, 2026 | Daily |
| IYY · iShares Trust | — | — | Aug. 7, 2026 | Daily |
| ISCB · iShares Trust | — | — | July 20, 2026 | Daily |
| ISCV · iShares Trust | — | — | July 20, 2026 | Daily |
| ESML · iShares Trust | — | — | Aug. 14, 2026 | Daily |
| WSML · iShares Trust | — | — | July 20, 2026 | Daily |