MFA MFA Financial, Inc.
$9.12
Price · Aug 18, 2026
Fundamentals as of May 5, 2026
52W Range
$9–$11
18% of range
Analyst Rating
HOLD
10 analysts
Price Target
$14
+54% upside
P/E (TTM)
7.0
ROE
9.7%
Net Profit Margin
76.5%
MFA Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$9.12
Market Cap
$927M
P/E (TTM)
7.0
EPS (TTM)
$1.30
Revenue (TTM)
—
Div Yield
16.0%
ROE
9.7%
Debt/Equity
—
52W Range
$9 – $11
MFA Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
—
EPS
$1.30
2017-12-31
→
2025-12-31
Free Cash Flow
—
2016-12-31
→
2022-12-31
Margins
76.5%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
MFA
Peer Median
P/E (TTM)
7.0
7.4
P/S (TTM)
4.0
1.7
P/B
0.5
0.7
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
MFA
Peer Median
Net Profit Margin
76.5%
16.8%
ROA
1.5%
1.1%
ROE
9.7%
7.5%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
MFA
Peer Median
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
MFA
Peer Median
Revenue YoY
14.0%
—
Revenue CAGR 3Y
1.1%
—
Revenue CAGR 5Y
7.1%
—
EPS YoY
58.5%
—
Net Income YoY
48.2%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
MFA
Peer Median
Payout Ratio
83.8%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
16.0%
Payout Ratio
83.8%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| June 30, 2026 | $0.3600 |
| March 31, 2026 | $0.3600 |
| Dec. 31, 2025 | $0.3600 |
| Sept. 30, 2025 | $0.3600 |
| June 30, 2025 | $0.3600 |
| March 31, 2025 | $0.3600 |
| Dec. 31, 2024 | $0.3500 |
| Sept. 27, 2024 | $0.3500 |
| June 28, 2024 | $0.3500 |
| March 27, 2024 | $0.3500 |
| Dec. 28, 2023 | $0.3500 |
| Sept. 29, 2023 | $0.3500 |
| June 29, 2023 | $0.3500 |
| March 30, 2023 | $0.3500 |
| Dec. 29, 2022 | $0.3500 |
| Sept. 29, 2022 | $0.4400 |
| June 29, 2022 | $0.4400 |
| March 21, 2022 | $0.4400 |
| Dec. 30, 2021 | $0.4400 |
| Sept. 29, 2021 | $0.4000 |
MFA Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
10 analysts
- Strong Buy 1 10.0%
- Buy 4 40.0%
- Hold 5 50.0%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
6 analysts · 2026-08-14
Median
$10.75
Mean
$14.00
← Below all targets
$9.12
Low
$10.00
High
$31.00
Median target
$10.75
+17.9%
Mean target
$14.00
+53.5%
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 | $0.12 | $0.29 | -0.17% |
| March 31, 2026 | $0.30 | $0.30 | -0.01% |
| Dec. 31, 2025 | $0.27 | $0.27 | -0.00% |
| Sept. 30, 2025 | $0.20 | $0.28 | -0.08% |
| June 30, 2025 | $0.24 | $0.31 | -0.07% |
| March 31, 2025 | $0.29 | $0.32 | -0.03% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| MFA | $946M | 7.2 | 14.0% | 76.5% | 9.7% | — |
| ORC | $1.31B | — | 1944.3% | 146.9% | 13.9% | — |
| TWO | — | -2.2 | — | — | — | — |
| LADR | $1.40B | 21.5 | -32.9% | 69.2% | 4.2% | — |
| CIM | — | — | — | — | — | — |
| ABR | $1.52B | 13.9 | -18.0% | 30.9% | 5.3% | — |
| ADAM | — | — | — | — | — | — |
| ARI | — | 12.0 | -10.6% | — | — | — |
| PMT | $1.09B | 12.7 | — | -656.4% | 6.8% | — |
| IVR | $604M | 6.4 | 104.8% | 134.3% | 13.4% | — |
| FBRT | $818M | 15.7 | 20.9% | 30.5% | 5.6% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 11
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SG&A Expense | · | · | · | $113M | $86M | · | · | · | · | · | · | · | |
| Operating Expenses | $155M | $170M | $168M | $165M | $120M | $142M | $95M | $79M | $72M | $60M | $52M | $45M | |
| Interest Expense | · | · | $429M | $259M | $120M | $269M | $332M | $232M | $197M | $193M | $177M | $160M | |
| Interest Income | $745M | $724M | $606M | $482M | $362M | $433M | $696M | $456M | $433M | $457M | $492M | $464M | |
| Pretax Income | $176M | $120M | $80M | $-232M | · | · | · | · | · | · | · | · | |
| Income Tax | $-735.0K | $443.0K | $278.0K | $-851.0K | $3M | $2M | $499.0K | $0 | $0 | $0 | $0 | $0 | |
| Net Income | $177M | $119M | $80M | $-232M | $329M | $-679M | $378M | $302M | $322M | $313M | $313M | $314M | |
| EPS (Basic) | $1.31 | $0.83 | $0.46 | $-2.57 | $2.66 | $-6.28 | $0.80 | $0.68 | $0.79 | · | · | · | |
| EPS (Diluted) | $1.30 | $0.82 | $0.46 | $-2.57 | $2.63 | $-6.28 | $0.79 | $0.68 | $0.79 | · | · | · | |
| Shares (Basic) | 103,554,000 | 103,489,000 | 102,215,000 | 103,153,000 | 110,704,000 | 113,008,000 | 450,972,000 | 418,934,000 | 388,357,000 | · | · | · | |
| Shares (Diluted) | 103,981,000 | 105,102,000 | 103,578,000 | 103,153,000 | 118,691,000 | 113,008,000 | 467,769,000 | 418,934,000 | 388,357,000 | · | · | · |
Balance Sheet 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $213M | $339M | $318M | $334M | $305M | $814M | $71M | $52M | $450M | $260M | $165M | $182M | |
| Goodwill | $61M | $61M | $61M | $61M | $61M | $0 | · | $7M | $7M | $7M | $7M | $7M | |
| Intangibles | $3M | $5M | $8M | $12M | $21M | $0 | · | · | · | · | · | · | |
| Total Assets | $13.05B | $11.41B | $10.77B | $9.11B | $9.14B | $6.93B | $13.57B | $12.42B | $10.95B | $12.48B | $13.16B | $12.35B | |
| Total Liabilities | $11.22B | $9.57B | $8.87B | $7.12B | $6.60B | $4.41B | $10.18B | $9.00B | $7.69B | $9.45B | $10.20B | $9.15B | |
| Common Stock | $1M | $1M | $1M | $1M | $1M | $5M | $5M | $4M | $4M | $4M | $4M | $4M | |
| Paid-in Capital | $3.72B | $3.71B | $3.70B | $3.68B | $3.78B | $3.85B | $3.64B | $3.62B | $3.23B | $3.03B | $3.02B | $3.01B | |
| Retained Earnings | $-1.90B | $-1.88B | $-1.82B | $-1.72B | $-1.28B | $-1.41B | $-631M | $-632M | $-579M | $-573M | $-572M | $-569M | |
| AOCI | $4M | $9M | $18M | $21M | $46M | $77M | $370M | $420M | $609M | $574M | $516M | $754M | |
| Stockholders' Equity | $1.83B | $1.84B | $1.90B | $1.99B | $2.54B | $2.52B | $3.38B | $3.42B | $3.26B | $3.03B | $2.97B | $3.20B | |
| Liabilities + Equity | $13.05B | $11.41B | $10.77B | $9.11B | $9.14B | $6.93B | $13.57B | $12.42B | $10.95B | $12.48B | $13.16B | $12.35B | |
| Shares Outstanding | 101,663,000 | 102,083,000 | 101,916,000 | 101,802,000 | 108,138,000 | 112,929,000 | 452,369,000 | 449,787,000 | 397,831,000 | 371,854,000 | 370,584,000 | 370,084,000 |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | · | · | · | $3M | $2M | $2M | $964.0K | $860.0K | $1M | |
| Stock-based Comp | · | · | · | · | · | · | $9M | $8M | $8M | $9M | $8M | $9M | |
| Deferred Tax | $0 | $0 | $299.0K | $195.0K | $0 | $0 | $0 | · | · | · | · | · | |
| Amort. of Intangibles | $2M | $3M | $4M | $9M | $7M | $0 | $0 | · | · | · | · | · | |
| Operating Cash Flow | $76M | $200M | $109M | $355M | $138M | $38M | $216M | $148M | $177M | $179M | $278M | $256M | |
| CapEx | · | · | · | $300.0K | $12M | $5M | $2M | $1M | $872.0K | $708.0K | $2M | $786.0K | |
| Investing Cash Flow | $-1.79B | $-425M | $-1.55B | $-1.12B | $-2.18B | $6.38B | $-1.13B | $-2.16B | $1.82B | $935M | $554M | $451M | |
| Stock Issued | $-68.0K | $-81.0K | $-7.0K | $1M | $2M | $7M | $12M | $392M | $197M | $5M | $1M | $36M | |
| Stock Repurchased | $15M | $1M | $0 | $102M | $86M | $51M | $0 | $0 | · | · | $0 | $0 | |
| Net Stock Activity | $-15M | $-2M | $-7.0K | $-101M | $-84M | $-43M | $12M | $392M | $197M | $5M | $1M | $36M | |
| Dividends Paid | $148M | $144M | $143M | $184M | $156M | $114M | $362M | $330M | $309M | $298M | $297M | $295M | |
| Financing Cash Flow | $1.49B | $338M | $1.43B | $850M | $1.63B | $-5.74B | $965M | $1.63B | $-1.85B | $-1.03B | $-850M | $-1.09B | |
| Net Change in Cash | $-215M | $113M | $-6M | $90M | $-417M | $687M | $46M | $-375M | $145M | · | · | · | |
| Taxes Paid | $564.0K | · | · | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | · | · | · | $366M | $108M | $34M | $214M | $147M | $175M | $85M | $281M | $255M |
Profitability 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 76.5% | 58.8% | 45.4% | -103.6% | 135.9% | -749.7% | 79.6% | 79.1% | 81.5% | 83.8% | 85.5% | 87.4% | |
| Pretax Margin | 76.2% | 59.0% | · | · | · | · | · | · | · | · | · | · | |
| ROA | 1.5% | 1.1% | 0.81% | -2.5% | 4.1% | -6.6% | 2.9% | 2.6% | 2.8% | 2.4% | 2.5% | 2.5% | |
| ROE | 9.7% | 6.4% | 4.3% | -11.5% | 12.8% | -26.7% | 11.1% | 8.7% | 9.9% | 10.3% | 10.4% | 9.7% |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Growth Rates 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 14.0% | 14.9% | -21.1% | -7.6% | 47.4% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 1.1% | -5.7% | 2.5% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 7.1% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 58.5% | 78.3% | · | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | · | -32.2% | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 48.2% | 48.8% | · | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | · | -28.7% | · | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 5.5% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $231M | $203M | $176M | $224M | $242M | $164M | $589M | $381M | $394M | $373M | $366M | $359M | |
| Net Income TTM | $177M | $119M | $80M | $-232M | $329M | $-679M | $378M | $302M | $322M | $313M | $313M | $314M | |
| Market Cap | $946M | $1.04B | $1.15B | $1.00B | $7.89B | $7.03B | $13.84B | $12.02B | $12.60B | $11.35B | $9.78B | $11.83B | |
| P/E | 7.2 | 12.4 | 24.5 | -3.8 | 6.9 | -2.5 | 38.7 | 39.3 | 40.1 | 33.2 | 28.7 | 34.7 | |
| P/S | 4.1 | 5.1 | 6.5 | 4.5 | 32.6 | 42.8 | 23.5 | 31.5 | 32.0 | 30.5 | 26.7 | 33.0 | |
| P/B | 0.5 | 0.6 | 0.6 | 0.5 | 3.1 | 2.8 | 4.1 | 3.5 | 3.9 | 3.7 | 3.3 | 3.7 | |
| P / Tangible Book | 0.5 | 0.6 | 0.6 | 0.5 | 3.2 | 2.8 | · | · | · | · | · | · | |
| P / Cash Flow | 12.4 | 5.2 | 10.6 | 2.7 | 65.6 | 183.1 | 64.2 | 81.3 | 71.6 | 132.7 | 34.7 | 46.2 | |
| P / FCF | · | · | · | 2.7 | 72.9 | 209.6 | 64.7 | 81.9 | 71.9 | 133.8 | 34.9 | 46.4 | |
| Dividend Yield | 15.7% | 13.8% | 12.5% | 18.4% | 2.0% | 1.6% | 2.6% | 2.7% | 2.5% | 2.6% | 3.0% | 2.5% | |
| Earnings Yield | 14.0% | 8.1% | 4.1% | -26.1% | 14.4% | -40.4% | 2.6% | 2.5% | 2.5% | 3.0% | 3.5% | 2.9% | |
| Payout Ratio | 83.8% | 120.6% | 178.5% | -79.5% | 47.5% | -16.7% | 95.6% | 109.3% | 95.7% | 95.3% | 94.9% | 94.0% | |
| Annual Payout | $148M | $144M | $143M | $184M | $156M | $114M | $362M | $330M | $309M | $298M | $297M | $295M |
Income Statement 11
| Metric | Trend | 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 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SG&A Expense | · | · | · | · | · | · | · | · | $13M | · | $11M | $33M | $10M | · | $9M | $30M | |
| Operating Expenses | $45M | $35M | $39M | $39M | $42M | $40M | $43M | $42M | $45M | $40M | $44M | $42M | $42M | $34M | $43M | $46M | |
| Interest Expense | · | · | · | · | · | · | · | · | $129M | · | $113M | $100M | $93M | · | $72M | $57M | |
| Interest Income | $192M | $190M | $186M | $188M | $181M | $178M | $182M | $187M | $177M | $170M | $159M | $144M | $132M | $143M | $124M | $109M | |
| Pretax Income | $-984.0K | $54M | $48M | $33M | $40M | $3M | $50M | $42M | $24M | $90M | $-56M | $-26M | · | · | · | · | |
| Income Tax | $0 | $0 | $-101.0K | $238.0K | $-872.0K | $-2M | $2M | $346.0K | $1M | $-16.0K | $94.0K | $-357.0K | $557.0K | $-2M | $283.0K | $357.0K | |
| Net Income | $-984.0K | $54M | $48M | $33M | $41M | $6M | $48M | $42M | $23M | $90M | $-56M | $-26M | $73M | $7M | $-55M | $-100M | |
| EPS (Basic) | $-0.11 | $0.41 | $0.36 | $0.22 | $0.32 | $-0.01 | $0.38 | $0.32 | $0.14 | $0.81 | $-0.64 | $-0.34 | $0.63 | $-0.03 | $-0.62 | $-1.06 | |
| EPS (Diluted) | $-0.11 | $0.43 | $0.35 | $0.21 | $0.31 | $-0.01 | $0.37 | $0.32 | $0.14 | $0.82 | $-0.64 | $-0.34 | $0.62 | $-0.03 | $-0.62 | $-1.06 | |
| Shares (Basic) | 104,253,000 | -207,611,000 | 103,683,000 | 103,705,000 | 103,777,000 | -206,777,000 | 103,647,000 | 103,446,000 | 103,173,000 | -204,381,000 | 102,255,000 | 102,186,000 | 102,155,000 | -207,725,000 | 101,795,000 | 102,515,000 | |
| Shares (Diluted) | 106,297,000 | -212,451,000 | 105,746,000 | 105,307,000 | 105,379,000 | -211,714,000 | 106,391,000 | 105,176,000 | 105,249,000 | -211,204,000 | 102,255,000 | 102,186,000 | 110,341,000 | -207,725,000 | 101,795,000 | 102,515,000 |
Balance Sheet 12
| Metric | Trend | 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 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $222M | $213M | $305M | $276M | $254M | $339M | $306M | $289M | $306M | · | $300M | $329M | $362M | · | $434M | $386M | |
| Goodwill | $61M | $61M | $61M | $61M | $61M | $61M | $61M | $61M | $61M | · | $61M | $61M | $61M | · | $61M | $61M | |
| Intangibles | $2M | $3M | $3M | $3M | $4M | $5M | $6M | $6M | $7M | · | $9M | $10M | $11M | · | $14M | $15M | |
| Total Assets | $13.23B | $13.05B | $12.10B | $11.67B | $11.52B | $11.41B | $11.16B | $11.08B | $10.87B | · | $10.10B | $9.74B | $9.31B | · | $9.52B | $9.48B | |
| Total Liabilities | $11.45B | $11.22B | $10.28B | $9.85B | $9.68B | $9.57B | $9.28B | $9.19B | $8.99B | · | $8.26B | $7.79B | $7.29B | · | $7.49B | $7.33B | |
| Common Stock | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | · | $1M | $1M | $1M | · | $1M | $1M | |
| Paid-in Capital | $3.72B | $3.72B | $3.72B | $3.72B | $3.71B | $3.71B | $3.71B | $3.71B | $3.70B | · | $3.70B | $3.69B | $3.69B | · | $3.68B | $3.68B | |
| Retained Earnings | $-1.94B | $-1.90B | $-1.90B | $-1.90B | $-1.88B | $-1.88B | $-1.84B | $-1.84B | $-1.84B | · | $-1.86B | $-1.76B | $-1.69B | · | $-1.68B | $-1.57B | |
| AOCI | $3M | $4M | $4M | $5M | $8M | $9M | $10M | $18M | $20M | · | $14M | $13M | $20M | · | $31M | $37M | |
| Stockholders' Equity | $1.78B | $1.83B | $1.82B | $1.82B | $1.84B | $1.84B | $1.88B | $1.88B | $1.88B | $1.90B | $1.85B | $1.94B | $2.02B | $1.99B | $2.03B | $2.15B | |
| Liabilities + Equity | $13.23B | $13.05B | $12.10B | $11.67B | $11.52B | $11.41B | $11.16B | $11.08B | $10.87B | · | $10.10B | $9.74B | $9.31B | · | $9.52B | $9.48B | |
| Shares Outstanding | 101,596,000 | 101,663,000 | 102,196,000 | 102,669,000 | 102,653,000 | 102,083,000 | 102,083,000 | 102,083,000 | 102,082,000 | 101,916,000 | 101,916,000 | 101,916,000 | 101,912,000 | 101,802,000 | 101,797,000 | 101,793,000 |
Cash Flow 13
| Metric | Trend | 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 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Deferred Tax | $0 | $0 | $0 | $0 | $0 | $-516.0K | $0 | $0 | $516.0K | $-445.0K | $0 | $0 | $744.0K | $-372.0K | $232.0K | $135.0K | |
| Amort. of Intangibles | $300.0K | $300.0K | $300.0K | $800.0K | $800.0K | $800.0K | $800.0K | $800.0K | $800.0K | $800.0K | $800.0K | $1M | $1M | $1M | $1M | $3M | |
| Operating Cash Flow | $71M | $38M | $15M | $38M | $-15M | $111M | $-11M | $46M | $53M | $4M | $40M | $78M | $-7M | $7M | $139M | $79M | |
| CapEx | · | · | · | · | · | · | · | · | · | · | · | · | $1M | · | $306.0K | $272.0K | |
| Investing Cash Flow | $-226M | $-1.23B | $-272M | $-31M | $-252M | $-242M | $90M | $-181M | $-91M | $-309M | $-548M | $-550M | $-147M | $-88M | $-280M | $-167M | |
| Stock Issued | $-10.0K | $-7.0K | $-21.0K | $-20.0K | $-20.0K | $-20.0K | $-21.0K | $-20.0K | $-20.0K | $-20.0K | $-21.0K | $17.0K | $17.0K | $27.0K | $34.0K | $541.0K | |
| Stock Repurchased | $9M | $5M | $5M | $0 | $5M | $0 | $0 | $0 | $1M | $0 | $0 | $0 | $0 | $0 | $0 | $48M | |
| Net Stock Activity | $-9M | · | · | · | $-5M | · | · | · | $-2M | · | · | · | $17.0K | · | · | · | |
| Dividends Paid | $39M | $37M | $38M | $37M | $36M | $36M | $36M | $36M | $36M | $36M | $36M | $36M | $36M | $45M | $45M | $47M | |
| Financing Cash Flow | $179M | $1.04B | $249M | $64M | $138M | $229M | $-117M | $147M | $79M | $340M | $459M | $448M | $188M | $-26M | $197M | $78M | |
| Net Change in Cash | $24M | $-150M | $-8M | $72M | $-128M | $98M | $-39M | $12M | $41M | $35M | $-50M | $-24M | $34M | $-107M | $56M | $-10M | |
| Taxes Paid | $0 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | · | · | · | · | · | · | · | · | · | · | · | · | $-14M | · | · | · |
Profitability 4
| Metric | Trend | 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 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | -1.7% | · | 84.7% | 54.1% | 71.6% | · | 95.2% | 78.4% | 48.5% | · | -122.3% | -58.3% | 184.9% | · | -105.2% | -190.9% | |
| Pretax Margin | -1.7% | · | 84.5% | 54.5% | 70.0% | · | 98.2% | 79.1% | · | · | · | · | · | · | · | · | |
| ROA | -0.01% | · | 0.41% | 0.29% | 0.37% | · | 0.45% | 0.40% | 0.23% | · | -0.58% | -0.27% | 0.76% | · | -0.61% | -1.2% | |
| ROE | -0.05% | · | 2.6% | 1.8% | 2.2% | · | 2.6% | 2.2% | 1.2% | · | -2.9% | -1.3% | 3.3% | · | -2.4% | -4.3% |
Efficiency 1
| Metric | Trend | 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 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 |
Valuation (TTM) 11
| Metric | Trend | 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 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $235M | · | $226M | $223M | $209M | · | $198M | $192M | $178M | · | $182M | $189M | $207M | · | $230M | $236M | |
| Net Income TTM | $121M | · | $171M | $164M | $155M | · | $57M | $-17M | $14M | · | $-65M | $-109M | $-166M | · | $-106M | $16M | |
| Market Cap | $973M | · | $939M | $971M | $1.05B | · | $1.30B | $1.09B | $1.16B | · | $979M | $1.15B | $1.01B | · | $792M | $1.09B | |
| P/E | 12.6 | · | 7.4 | 7.8 | 9.0 | · | 66.9 | -20.5 | -51.9 | · | -9.8 | -8.0 | -5.2 | · | -5.3 | -34.7 | |
| P/S | 4.1 | · | 4.2 | 4.4 | 5.0 | · | 6.6 | 5.7 | 6.5 | · | 5.4 | 6.1 | 4.9 | · | 3.4 | 4.6 | |
| P/B | 0.5 | · | 0.5 | 0.5 | 0.6 | · | 0.7 | 0.6 | 0.6 | · | 0.5 | 0.6 | 0.5 | · | 0.4 | 0.5 | |
| P / Tangible Book | 0.6 | · | 0.5 | 0.6 | 0.6 | · | 0.7 | 0.6 | 0.6 | · | 0.6 | 0.6 | 0.5 | · | 0.4 | 0.5 | |
| P / Cash Flow | 13.7 | · | · | · | -72.3 | · | · | · | 21.8 | · | · | · | -79.8 | · | · | · | |
| P / FCF | · | · | · | · | · | · | · | · | · | · | · | · | -71.6 | · | · | · | |
| Earnings Yield | 7.9% | · | 13.5% | 12.8% | 11.1% | · | 1.5% | -4.9% | -1.9% | · | -10.2% | -12.5% | -19.4% | · | -18.8% | -2.9% | |
| Payout Ratio | -3950.2% | · | · | · | 87.1% | · | · | · | 154.2% | · | · | · | 49.1% | · | · | · |
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 | |
|---|---|---|---|---|---|
| Net Income | $177M | $119M | $80M | $-232M | $329M |
| Diluted EPS | $1.30 | $0.82 | $0.46 | $-2.57 | $2.63 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | — | — | — | $366M | $108M |
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Institutional owners (13F) 235 filers · $335.6M 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 |
|---|---|---|---|---|
| 24 (-19 vs prior Q) | 22 (-4 vs prior Q) | 72 (+2 vs prior Q) | 68 (+13 vs prior Q) | +8.4M |
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 |
|---|---|---|---|---|
| VANGUARD PORTFOLIO MANAGEMENT LLC | $45,131,534 | 4,657,537 | 13.45% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $43,834,818 | 4,523,717 | 13.06% | Shares |
| STATE STREET CORP | $25,869,311 | 2,576,990 | 7.71% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $21,950,550 | 2,264,757 | 6.54% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $21,194,501 | 2,187,255 | 6.32% | Shares |
| WOLVERINE ASSET MANAGEMENT LLC | $16,563,233 | 1,709,312 | 4.94% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $14,903,007 | 1,537,978 | 4.44% | Shares |
| FMR LLC | $12,620,818 | 1,302,458 | 3.76% | Shares |
| VAN ECK ASSOCIATES CORP | $10,021,291 | 1,034,189 | 2.99% | Shares |
| FIRST TRUST ADVISORS LP | $6,665,867 | 687,912 | 1.99% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $6,643,706 | 685,625 | 1.98% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $5,499,317 | 567,525 | 1.64% | Shares |
| Allianz Asset Management GmbH | $4,310,878 | 444,879 | 1.28% | Shares |
| TWO SIGMA INVESTMENTS, LP | $4,290,131 | 442,738 | 1.28% | Shares |
| LPL Financial LLC | $3,903,392 | 402,827 | 1.16% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $3,588,740 | 370,355 | 1.07% | Shares |
| Bank of New York Mellon Corp | $3,407,847 | 351,687 | 1.02% | Shares |
| EMG Holdings, L.P. | $3,072,961 | 317,127 | 0.92% | Shares |
| Verition Fund Management LLC | $2,706,465 | 279,305 | 0.81% | Shares |
| CITADEL ADVISORS LLC | $2,657,008 | 274,201 | 0.79% | Shares |
| MILLENNIUM MANAGEMENT LLC | $2,512,704 | 259,309 | 0.75% | Shares |
| ALGERT GLOBAL LLC | $2,371,724 | 244,760 | 0.71% | Shares |
| Cubist Systematic Strategies, LLC | $2,283,486 | 248,475 | 0.68% | Shares |
| Independent Advisor Alliance | $2,254,634 | 232,676 | 0.67% | Shares |
| CAXTON ASSOCIATES LLP | $2,106,315 | 217,370 | 0.63% | Shares |
| TUDOR INVESTMENT CORP ET AL | $2,080,249 | 214,680 | 0.62% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $2,052,342 | 211,800 | 0.61% | Call option |
| MARINER INVESTMENT GROUP LLC | $2,034,900 | 210,000 | 0.61% | Shares |
| Swiss National Bank | $1,985,239 | 204,875 | 0.59% | Shares |
| IEQ CAPITAL, LLC | $1,675,916 | 172,953 | 0.50% | Shares |
| Simplify Asset Management Inc. | $1,625,459 | 167,746 | 0.48% | Shares |
| Corient Private Wealth LP | $1,538,959 | 158,274 | 0.46% | Shares |
| GOLDMAN SACHS GROUP INC | $1,520,439 | 156,908 | 0.45% | Shares |
| CWM, LLC | $1,502,671 | 156,855 | 0.45% | Shares |
| CITADEL ADVISORS LLC | $1,422,492 | 146,800 | 0.42% | Call option |
| Y-Intercept (Hong Kong) Ltd | $1,384,992 | 142,930 | 0.41% | Shares |
| MORGAN STANLEY | $1,359,234 | 140,271 | 0.41% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,281,987 | 132,300 | 0.38% | Put option |
| RHUMBLINE ADVISERS | $1,268,614 | 130,921 | 0.38% | Shares |
| Almitas Capital LLC | $1,241,153 | 128,086 | 0.37% | Shares |
| FRANKLIN RESOURCES INC | $1,233,459 | 127,292 | 0.37% | Shares |
| Engineers Gate Manager LP | $1,226,182 | 126,541 | 0.37% | Shares |
| CITADEL ADVISORS LLC | $1,165,707 | 120,300 | 0.35% | Put option |
| ALLIANCEBERNSTEIN L.P. | $1,099,545 | 114,775 | 0.33% | Shares |
| JENNISON ASSOCIATES LLC | $1,046,646 | 108,013 | 0.31% | Shares |
| VIRGINIA RETIREMENT SYSTEMS ET Al | $960,019 | 103,117 | 0.29% | Shares |
| AlphaQuest LLC | $907,948 | 97,524 | 0.27% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $895,328 | 93,458 | 0.27% | Shares |
| CAXTON ASSOCIATES LP | $880,691 | 86,427 | 0.26% | Shares |
| WELLS FARGO & COMPANY/MN | $880,094 | 90,825 | 0.26% | Shares |
| TWO SIGMA ADVISERS, LP | $850,934 | 91,400 | 0.25% | Shares |
| JANE STREET GROUP, LLC | $841,092 | 86,800 | 0.25% | Put option |
| BlackRock, Inc. | $793,863 | 81,926 | 0.24% | Shares |
| BANK OF AMERICA CORP /DE/ | $793,184 | 81,856 | 0.24% | Shares |
| SEI INVESTMENTS CO | $781,160 | 80,615 | 0.23% | Shares |
| QRG CAPITAL MANAGEMENT, INC. | $772,450 | 79,716 | 0.23% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $713,620 | 73,645 | 0.21% | Shares |
| OSAIC HOLDINGS, INC. | $684,739 | 70,649 | 0.20% | Shares |
| Curi Capital, LLC | $668,300 | 68,968 | 0.20% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $622,040 | 64,194 | 0.19% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $607,020 | 62,644 | 0.18% | Shares |
| MetLife Investment Management, LLC | $595,935 | 61,500 | 0.18% | Shares |
| STIFEL FINANCIAL CORP | $581,597 | 60,020 | 0.17% | Shares |
| Russell Investments Group, Ltd. | $564,927 | 58,300 | 0.17% | Shares |
| Kestra Advisory Services, LLC | $524,743 | 54,153 | 0.16% | Shares |
| Quantinno Capital Management LP | $513,891 | 53,033 | 0.15% | Shares |
| RAYMOND JAMES FINANCIAL INC | $505,915 | 52,210 | 0.15% | Shares |
| XTX Topco Ltd | $496,768 | 51,266 | 0.15% | Shares |
| Composition Wealth, LLC | $463,347 | 47,817 | 0.14% | Shares |
| WOLVERINE TRADING, LLC | $451,242 | 47,300 | 0.13% | Call option |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $443,676 | 45,787 | 0.13% | Shares |
| Miller Global Investments, LLC | $442,067 | 45,621 | 0.13% | Shares |
| JANE STREET GROUP, LLC | $439,316 | 45,337 | 0.13% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $438,783 | 46,188 | 0.13% | Shares |
| CITIGROUP INC | $437,494 | 45,149 | 0.13% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $425,546 | 43,916 | 0.13% | Shares |
| JANUS HENDERSON GROUP PLC | $405,398 | 42,295 | 0.12% | Shares |
| Invesco Ltd. | $395,391 | 40,804 | 0.12% | Shares |
| Vanguard Global Advisers, LLC | $385,303 | 39,763 | 0.11% | Shares |
| America First Investment Advisors, LLC | $384,935 | 39,725 | 0.11% | Shares |
| Capital Square, LLC | $384,140 | 40,435 | 0.11% | Shares |
| Mariner, LLC | $374,324 | 38,626 | 0.11% | Shares |
| Nebula Research & Development LLC | $371,087 | 39,227 | 0.11% | Shares |
| VANGUARD GROUP INC | $370,194 | 39,763 | 0.11% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $363,617 | 37,525 | 0.11% | Shares |
| TEACHER RETIREMENT SYSTEM OF TEXAS | $350,362 | 36,157 | 0.10% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $335,080 | 34,580 | 0.10% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $333,084 | 34,374 | 0.10% | Shares |
| NISA INVESTMENT ADVISORS, LLC | $329,208 | 32,683 | 0.10% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $325,952 | 33,638 | 0.10% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $317,948 | 32,812 | 0.09% | Shares |
| MML INVESTORS SERVICES, LLC | $305,451 | 31,522 | 0.09% | Shares |
| Police & Firemen's Retirement System of New Jersey | $275,642 | 28,446 | 0.08% | Shares |
| ARIZONA STATE RETIREMENT SYSTEM | $272,977 | 28,171 | 0.08% | Shares |
| KINGSWOOD WEALTH ADVISORS, LLC | $261,630 | 27,000 | 0.08% | Shares |
| INTECH INVESTMENT MANAGEMENT LLC | $255,583 | 26,376 | 0.08% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $248,568 | 25,652 | 0.07% | Shares |
| Sequoia Financial Advisors, LLC | $229,615 | 23,696 | 0.07% | Shares |
| Vanguard Investments Australia, Ltd. | $227,977 | 23,527 | 0.07% | Shares |
| Quantbot Technologies LP | $225,961 | 23,319 | 0.07% | Shares |
Company insiders 38 insiders · 21 officers · 17 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Craig L Knutson | CEO | Jan. 8, 2026 M | 1,183,342 | 0 | 0 | $0 |
| William S Gorin | Chief Executive Officer | June 30, 2017 F | 1,081,108 | 0 | 0 | $0 |
| Stewart Zimmerman | Chairman and CEO | Oct. 31, 2012 A | 740,711 | 0 | 0 | $0 |
| Stephen D. Yarad | Chief Financial Officer | Jan. 9, 2023 M | 25,004 | 0 | 0 | $0 |
| MFA FINANCIAL, INC. | Chief Financial Officer | Dec. 16, 2010 A | 2,445 | 0 | 0 | $0 |
| Lori R Samuels | SVP & Chief Loan Ops. Ofcr | Jan. 8, 2026 M | 92,614 | 0 | 0 | $0 |
| Natasha Seemungal | Sr. VP & Co-Controller | Jan. 8, 2026 M | 30,090 | 0 | 0 | $0 |
| Michael Charles Roper | Sr. VP & Chief Financial Ofcr | Jan. 8, 2026 M | 88,138 | 0 | 0 | $0 |
| Mei Lin | Sr. VP & Co-Controller | Jan. 8, 2026 M | 32,131 | 0 | 1 | $-28,028 |
| Bryan Wulfsohn | Pres. & Chief Invest. Ofcr. | Jan. 8, 2026 M | 391,515 | 0 | 0 | $0 |
| Harold E Schwartz | Senior Vice President | Jan. 8, 2026 M | 159,518 | 0 | 0 | $0 |
| Bryan Doran | Sr VP & Chief Accounting Ofcr | Jan. 2, 2026 A | — | 0 | 0 | $0 |
| Gudmundur Kristjansson | SVP & Co-Chief Invest. Ofcr. | Jan. 8, 2024 M | 161,806 | 0 | 0 | $0 |
| Terence B Meyers | Senior Vice President | Jan. 9, 2023 M | 27,109 | 0 | 0 | $0 |
| Sunil Yadav | Senior Vice President | Feb. 10, 2020 A | 350,720 | 0 | 0 | $0 |
| Kathleen A Hanrahan | Senior Vice President | Feb. 10, 2020 A | 149,602 | 0 | 0 | $0 |
| Peter Kollydas | Senior Vice President | Jan. 12, 2015 A | 3,376 | 0 | 0 | $0 |
| Matthew Ottinger | Senior Vice President | Jan. 12, 2015 A | 28,105 | 0 | 0 | $0 |
| Elwin A Ford | Senior Vice President | Jan. 12, 2015 A | 12,851 | 0 | 0 | $0 |
| Shira E Finkel | Senior Vice President | Jan. 12, 2015 A | 29,707 | 0 | 0 | $0 |
| Teresa D Covello | Senior Vice President, CAO | Aug. 9, 2011 P | 6,409 | 0 | 0 | $0 |
| Christopher R. Small | Director | June 8, 2026 A | — | 0 | 0 | $0 |
| Richard C. Wald | Director | June 8, 2026 A | — | 0 | 0 | $0 |
| Laurie Goodman | Director | June 8, 2026 A | 9,480 | 0 | 0 | $0 |
| Sheila A Stamps | Director | June 8, 2026 A | 15,840 | 0 | 0 | $0 |
| Lisa Polsky | Director | June 8, 2026 A | — | 0 | 0 | $0 |
| Robin Josephs | Director | June 8, 2026 A | 35,454 | 0 | 0 | $0 |
| Francis J. Oelerich III | Director | June 5, 2024 A | 19,697 | 0 | 0 | $0 |
| James A Brodsky | Director | June 8, 2021 A | 94,832 | 0 | 0 | $0 |
| KRAUSS GEORGE H | Director | July 20, 2020 A | 122,271 | 0 | 0 | $0 |
| Stephen R Blank | Director | May 4, 2020 A | 82,684 | 0 | 0 | $0 |
| Richard J Byrne | Director | May 23, 2019 A | 12,305 | 0 | 0 | $0 |
| Alan L Gosule | Director | May 24, 2018 A | 71,758 | 0 | 0 | $0 |
| Gregory Sorensen | Director | Feb. 21, 2018 P | 60,000 | 0 | 0 | $0 |
| Michael L Dahir | Director | May 22, 2014 A | 272,946 | 0 | 0 | $0 |
| Edison C Buchanan | Director | Nov. 30, 2010 A | 16,250 | 0 | 0 | $0 |
| Ronald A Freydberg | — | March 12, 2020 P | 643,441 | 0 | 0 | $0 |
| Timothy W Korth | — | May 24, 2011 P | 93,718 | 0 | 0 | $0 |
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 |
|---|---|---|---|---|---|
| SAR Public Holdings II, L.L.C., SOF-XI U.S. Private SAR Holdings, L.P., SOF-XI U.S. Institutional SAR Holdings, L.P., Starwood XI Management Holdings GP, L.L.C., Starwood XI Management, L.P., Starwood XI Management GP, L.L.C., SSF U.S. Investco C, L.P., Starwood SSF U.S. Holdco C GP, L.L.C., Starwood Distressed Special Situations Co-Invest C, L.P., SSF U.S. Investco K, L.P., Starwood SSF U.S. Holdco K GP, L.L.C., Starwood Distressed Special Situations Co-Invest K, L.P., SSF U.S. Investco S, L.P., Starwood SSF U.S. Holdco S GP, L.L.C., Starwood Distressed Special Situations Co-Invest S, L.P., SSF U.S. Investco, L.P., SSF U.S. Holdco GP, L.L.C., Starwood Distressed Special Situations Co-Invest, L.P., Starwood Distressed Special Situations Co-Invest GP, L.P., Starwood SSF GP, L.L.C., Starwood Capital Group Global II, L.P., SCGG II GP, L.L.C., Starwood Capital Group Holdings GP, L.L.C., BSS SCG GP Holdings, LLC, Barry S. Sternlicht ×3 filings | Jan. 11, 2023 | — | Initial filing | — | SEC |
| Athene Annuity and Life Company, Athene Annuity & Life Assurance Company, Athene USA Corporation, Athene Life Re Ltd., Athene Holding Ltd., Apollo Insurance Solutions Group LP, AISG GP Ltd., Apollo Life Asset, L.P., Apollo Life Asset GP, LLC, Apollo Capital Management, L.P., Apollo Capital Management GP, LLC, Apollo Management Holdings, L.P., Apollo Management Holdings GP, LLC, Omaha Equity Aggregator, L.P., AP Omaha Advisors, LLC, Apollo Hybrid Value Advisors, L.P., Apollo Hybrid Value Capital Management, LLC, APH Holdings, L.P., Apollo Principal Holdings III GP, Ltd. ×2 filings | Dec. 14, 2020 | — | 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 44 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 |
|---|---|---|---|---|
| KBWD · Invesco Exchange-Traded Fund Trust … | 3.41% | 1,554,982 | Aug. 8, 2026 | Daily |
| HYIN · WisdomTree Trust | 3.13% | 167,872 NS | May 31, 2026 | N-PORT |
| REM · iShares Trust | 2.14% | 1,260,312 SH | Aug. 8, 2026 | Daily |
| RIET · ETF Series Solutions | 1.19% | 129,238 NS | May 31, 2026 | N-PORT |
| SDIV · Global X Funds | 1.00% | 1,245,148 NS | April 30, 2026 | N-PORT |
| HOMZ · ETF Series Solutions | 0.75% | 26,390 NS | May 31, 2026 | N-PORT |
| PFF · iShares Trust | 0.25% | 1,465,041 SH | Aug. 8, 2026 | Daily |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.14% | 80,934 NS | April 30, 2026 | N-PORT |
| EBIT · Harbor ETF Trust | 0.13% | 1,395 NS | April 30, 2026 | N-PORT |
| SMLF · iShares Trust | 0.10% | 491,837 SH | Aug. 8, 2026 | Daily |
| VRP · Invesco Exchange-Traded Fund Trust … | 0.09% | 118,532 | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.06% | 180,213 | Aug. 8, 2026 | Daily |
| FNDA · SCHWAB STRATEGIC TRUST | 0.05% | 508,593 NS | May 31, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.05% | 68,111 SH | Aug. 8, 2026 | Daily |
| IWN · iShares Trust | 0.05% | 733,665 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.03% | 44,646 NS | April 30, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.03% | 589,113 SH | Aug. 8, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.03% | 9,171 | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.03% | 2,598,533 SH | Aug. 8, 2026 | Daily |
| ISCV · iShares Trust | 0.03% | 20,820 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.02% | 4,849 NS | May 31, 2026 | N-PORT |
| GSSC · Goldman Sachs ETF Trust | 0.02% | 23,549 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.02% | 485,719 NS | May 31, 2026 | N-PORT |
| VBR · VANGUARD INDEX FUNDS | 0.02% | 1,476,234 SH | Aug. 8, 2026 | Daily |
| SFGV · EA Series Trust | 0.02% | 18,473 NS | May 29, 2026 | N-PORT |
| UWM · ProShares Trust | 0.01% | 3,792 NS | May 31, 2026 | N-PORT |
| IWO · iShares Trust | 0.01% | 222,541 SH | Aug. 8, 2026 | Daily |
| FNCL · FIDELITY COVINGTON TRUST | 0.01% | 27,671 NS | April 30, 2026 | N-PORT |
| ISCB · iShares Trust | 0.01% | 3,959 SH | Aug. 8, 2026 | Daily |
| URTY · ProShares Trust | 0.01% | 3,836 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 1,168,921 SH | Aug. 8, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.01% | 2,323,522 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.01% | 26,008 SH | Aug. 8, 2026 | Daily |
| VFH · VANGUARD WORLD FUND | 0.01% | 166,207 SH | Aug. 8, 2026 | Daily |
| WSML · iShares Trust | 0.01% | 6,854 SH | Aug. 8, 2026 | Daily |
| TILT · FlexShares Trust | 0.01% | 16,478 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 4,386 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 96 NS | May 31, 2026 | N-PORT |
| FNDB · SCHWAB STRATEGIC TRUST | 0.00% | 5,463 NS | May 31, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 30,344 SH | Aug. 8, 2026 | Daily |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 61,239 NS | May 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 131,387 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 3,249,500 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 8,342 SH | Aug. 8, 2026 | Daily |