MIAX Miami International Holdings, Inc. Common Stock
$43.14
Price · Aug 24, 2026
Fundamentals as of Aug 7, 2026
52W Range
$32–$57
44% of range
Analyst Rating
BUY
12 analysts
Price Target
$52
+21% upside
P/E (TTM)
-43.1
ROE
-10.8%
Net Profit Margin
-5.1%
MIAX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$43.13
Market Cap
$3.69B
P/E (TTM)
-43.1
EPS (TTM)
$-1.00
Revenue (TTM)
$1.36B
Div Yield
—
ROE
-10.8%
Debt/Equity
0.0
52W Range
$32 – $57
MIAX 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
$1.36B
2023-12-31
→
2025-12-31
EPS
$-1.00
2023-12-31
→
2025-12-31
Free Cash Flow
$145M
2025-12-31
→
2025-12-31
Margins
-5.1%
2025-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
MIAX
Peer Median
P/E (TTM)
-43.1
22.9
P/S (TTM)
2.7
3.0
P/B
4.2
4.8
EV / EBITDA
26.8
—
Price / FCF
25.4
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
MIAX
Peer Median
Gross Margin
31.6%
63.5%
Operating Margin
6.7%
—
Net Profit Margin
-5.1%
4.5%
ROA
-6.3%
4.2%
ROE
-10.8%
16.4%
ROIC
10.6%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
MIAX
Peer Median
Debt / Equity
0.0
0.0
Current Ratio
2.5
1.6
Quick Ratio
1.6
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
MIAX
Peer Median
Revenue YoY
19.7%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
MIAX
Peer Median
MIAX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
12 analysts
- Strong Buy 3 25.0%
- Buy 5 41.7%
- Hold 4 33.3%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
5 analysts · 2026-08-23
Median
$52.00
← Below all targets
$43.13
Low
$45.00
High
$62.00
Median target
$52.00
+20.6%
Mean target
$52.00
+20.6%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.08%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.48 | $0.42 | 0.06% |
| March 31, 2026 | $0.42 | $0.38 | 0.04% |
| Dec. 31, 2025 | $0.52 | $0.42 | 0.10% |
| Sept. 30, 2025 | $0.42 | $0.31 | 0.11% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| MIAX | $3.80B | -44.4 | 19.7% | -5.1% | -10.8% | 31.6% |
| TW | $25.32B | 28.4 | 18.9% | 39.6% | 13.2% | — |
| FDS | $14.05B | 24.0 | 5.4% | 25.7% | 28.1% | — |
| MORN | $8.64B | 24.5 | 7.5% | 15.3% | 26.4% | — |
| MKTX | $6.48B | 27.3 | 3.6% | 29.1% | 19.5% | — |
| DFIN | $1.20B | 40.6 | -1.9% | 4.2% | 8.0% | — |
| GEMI | $1.17B | -0.6 | 26.3% | -324.6% | 220.5% | — |
| BKKT | — | -1.1 | -32.1% | -4.6% | -146.2% | — |
| VALU | — | — | -4.7% | 64.7% | 20.3% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Revenue | $1.36B | $1.14B | $1.04B | |
| Cost of Revenue | $934M | $864M | $809M | |
| Gross Profit | $431M | $276M | $232M | |
| Operating Expenses | $339M | $278M | $235M | |
| Operating Income | $92M | $-3M | $-3M | |
| Interest Income | $9M | $3M | $3M | |
| Other Non-op | $11M | $1M | $5M | |
| Pretax Income | $-69M | $105M | $-22M | |
| Income Tax | $1M | $3M | $-697.0K | |
| Net Income | $-70M | $102M | $-21M | |
| EPS (Basic) | $-1.00 | $1.68 | $-0.37 | |
| EPS (Diluted) | $-1.00 | $1.39 | $-0.37 | |
| Shares (Basic) | 69,836,032 | 60,698,967 | 56,457,675 | |
| Shares (Diluted) | 69,836,032 | 74,625,858 | 56,457,675 | |
| EBITDA | $121M | · | · |
Balance Sheet 27
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Cash & Equivalents | $434M | $150M | $59M | |
| Receivables | $98M | $92M | · | |
| Other Current Assets | $39M | $23M | · | |
| Current Assets | $855M | $573M | · | |
| PP&E (Net) | $47M | $44M | · | |
| Accum. Depreciation | $130M | $112M | · | |
| Goodwill | $62M | $47M | $47M | |
| Intangibles | $171M | $114M | $115M | |
| Other Non-current Assets | $64M | $82M | · | |
| Total Assets | $1.26B | $974M | · | |
| Accounts Payable | $8M | $13M | · | |
| Accrued Liabilities | $9M | $9M | · | |
| Current Liabilities | $337M | $405M | · | |
| Capital Leases | $17M | $15M | · | |
| Deferred Tax | $22M | $11M | · | |
| Other Non-current Liabilities | $19M | $15M | · | |
| Total Liabilities | $378M | $606M | · | |
| Long-term Debt | $2M | $37M | · | |
| Total Debt | $2M | · | · | |
| Common Stock | $86.0K | $63.0K | · | |
| Paid-in Capital | $1.52B | $931M | · | |
| Retained Earnings | $-632M | $-562M | · | |
| Treasury Stock | $8M | $775.0K | · | |
| AOCI | $-641.0K | $0 | · | |
| Stockholders' Equity | $881M | $368M | $164M | |
| Liabilities + Equity | $1.26B | $974M | · | |
| Shares Outstanding | 85,536,287 | 63,181,011 | · |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| D&A | $29M | $23M | $21M | |
| Stock-based Comp | $58M | $44M | $30M | |
| Deferred Tax | $474.0K | $3M | $-864.0K | |
| Amort. of Intangibles | $904.0K | $489.0K | · | |
| Other Non-cash | $150M | · | · | |
| Operating Cash Flow | $168M | $111M | $-49M | |
| CapEx | $23M | $27M | $16M | |
| Investing Cash Flow | $-101M | $-41M | $-64M | |
| Net Debt Issued | $-140M | · | · | |
| Stock Repurchased | $22M | $12M | $3M | |
| Net Stock Activity | $-22M | · | · | |
| Financing Cash Flow | $215M | $29M | $-17M | |
| Net Change in Cash | $281M | $100M | $-130M | |
| Taxes Paid | $784.0K | $-1M | $602.0K | |
| Free Cash Flow | $145M | · | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Gross Margin | 31.6% | · | · | |
| Operating Margin | 6.7% | · | · | |
| Net Margin | -5.1% | · | · | |
| Pretax Margin | -5.0% | · | · | |
| EBITDA Margin | 8.9% | · | · | |
| ROA | -6.3% | · | · | |
| ROE | -10.8% | · | · | |
| ROIC | 10.6% | · | · |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Current Ratio | 2.5 | · | · | |
| Quick Ratio | 1.6 | · | · | |
| Debt / Equity | 0.0 | · | · | |
| LT Debt / Equity | 0.0 | · | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Asset Turnover | 1.2 | · | · | |
| Receivables Turnover | 14.3 | · | · |
Growth Rates 1
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Revenue YoY | 19.7% | 9.5% | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Revenue TTM | $1.36B | · | · | |
| Net Income TTM | $-70M | · | · | |
| Market Cap | $3.80B | · | · | |
| Enterprise Value | $3.36B | · | · | |
| P/E | -44.4 | · | · | |
| P/S | 2.8 | · | · | |
| P/B | 4.3 | · | · | |
| P / Tangible Book | 5.9 | · | · | |
| P / Cash Flow | 22.6 | · | · | |
| P / FCF | 26.2 | · | · | |
| EV / EBITDA | 27.7 | · | · | |
| EV / FCF | 23.2 | · | · | |
| EV / Revenue | 2.5 | · | · | |
| Earnings Yield | -2.2% | · | · |
Income Statement 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $388M | $370M | $369M | $340M | $328M | $327M | $324M | |
| Cost of Revenue | $247M | $241M | $245M | $230M | $223M | $235M | $242M | |
| Gross Profit | $141M | $129M | $125M | $109M | $105M | $92M | $82M | |
| Operating Expenses | $113M | $83M | $82M | $110M | $77M | $70M | $75M | |
| Operating Income | $28M | $46M | $43M | $-305.0K | $27M | $22M | $7M | |
| Interest Income | $5M | $4M | $4M | $3M | $1M | $1M | $1M | |
| Other Non-op | $-4M | $2M | $186.0K | $-2M | $11M | $2M | $2M | |
| Pretax Income | $29M | $100M | $31M | $-103M | $25M | $-21M | $3M | |
| Income Tax | $-15M | $-70M | $922.0K | $-810.0K | $1M | $210.0K | $374.0K | |
| Net Income | $44M | $170M | $30M | $-102M | $24M | $-21M | $3M | |
| EPS (Basic) | $0.46 | $1.85 | $0.51 | $-1.46 | $0.36 | $-0.34 | $0.04 | |
| EPS (Diluted) | $0.40 | $1.56 | $0.51 | $-1.46 | $0.30 | $-0.34 | $0.04 | |
| Shares (Basic) | 95,305,096 | 91,793,374 | 3,667,717 | 70,128,197 | 64,942,755 | 63,549,403 | 220,975 | |
| Shares (Diluted) | 110,713,513 | 109,154,227 | 3,667,717 | 70,128,197 | 78,458,195 | 63,549,403 | -586,702 | |
| EBITDA | $37M | $54M | · | $8M | · | · | · |
Balance Sheet 27
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $660M | $551M | $434M | $401M | · | · | $150M | |
| Receivables | $120M | $107M | $98M | $100M | · | · | $92M | |
| Other Current Assets | $36M | $40M | $39M | $30M | · | · | $23M | |
| Current Assets | $1.10B | $971M | $855M | $792M | · | · | $573M | |
| PP&E (Net) | · | $53M | $47M | $48M | · | · | $44M | |
| Accum. Depreciation | · | $135M | $130M | $125M | · | · | $112M | |
| Goodwill | $62M | $62M | $62M | $65M | · | · | $47M | |
| Intangibles | $169M | $169M | $171M | $189M | · | · | $114M | |
| Other Non-current Assets | $63M | $59M | $64M | $68M | · | · | $82M | |
| Total Assets | $1.60B | $1.44B | $1.26B | $1.23B | · | · | $974M | |
| Accounts Payable | $19M | $13M | $8M | $9M | · | · | $13M | |
| Accrued Liabilities | $9M | $9M | $9M | $9M | · | · | $9M | |
| Current Liabilities | $423M | $351M | $337M | $349M | · | · | $405M | |
| Capital Leases | $15M | $15M | $17M | $19M | · | · | $15M | |
| Deferred Tax | $11M | $11M | $22M | $22M | · | · | $11M | |
| Other Non-current Liabilities | $16M | $17M | $19M | $21M | · | · | $15M | |
| Total Liabilities | $450M | $379M | $378M | $393M | · | · | $606M | |
| Long-term Debt | $2M | $2M | $2M | $6M | · | · | $37M | |
| Total Debt | $2M | $2M | · | $6M | · | · | · | |
| Common Stock | $99.0K | $95.0K | $86.0K | $82.0K | · | · | $63.0K | |
| Paid-in Capital | $1.59B | $1.54B | $1.52B | $1.50B | · | · | $931M | |
| Retained Earnings | $-418M | $-462M | $-632M | $-662M | · | · | $-562M | |
| Treasury Stock | $18M | $15M | $8M | $8M | · | · | $775.0K | |
| AOCI | $-2M | $-2M | $-641.0K | $-631.0K | · | · | $0 | |
| Stockholders' Equity | $1.15B | $1.07B | $881M | $832M | · | · | $368M | |
| Liabilities + Equity | $1.60B | $1.44B | $1.26B | $1.23B | · | · | $974M | |
| Shares Outstanding | 98,610,560 | 94,211,531 | 85,536,287 | 81,413,957 | · | · | 63,181,011 |
Cash Flow 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|---|---|
| D&A | $9M | $8M | $8M | $8M | $7M | $6M | $6M | |
| Stock-based Comp | $7M | $9M | $10M | $29M | $9M | $9M | $10M | |
| Amort. of Intangibles | $315.0K | $318.0K | $304.0K | $400.0K | · | · | $89.0K | |
| Other Non-cash | · | $-126M | · | · | · | · | · | |
| Operating Cash Flow | $123M | $61M | $47M | $55M | $55M | $11M | $39M | |
| CapEx | $16M | $12M | $4M | $2M | $12M | $5M | $6M | |
| Investing Cash Flow | $-22M | $46M | $-17M | $-5M | $-72M | $-8M | $-9M | |
| Stock Repurchased | $4M | $13M | $0 | $20M | $0 | $2M | $318.0K | |
| Net Stock Activity | · | $-13M | · | · | · | · | · | |
| Financing Cash Flow | $33M | $7M | $3M | $174M | $39M | $-2M | $-633.0K | |
| Net Change in Cash | $134M | $113M | $33M | $224M | $22M | $1M | $29M | |
| Taxes Paid | · | · | $-487.0K | · | · | · | $-1M | |
| Free Cash Flow | · | $49M | · | · | · | · | · |
Profitability 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 36.4% | 34.8% | · | 32.2% | · | · | · | |
| Operating Margin | 7.2% | 12.4% | · | -0.09% | · | · | · | |
| Net Margin | 11.4% | 46.1% | · | -30.0% | · | · | · | |
| Pretax Margin | 7.4% | 27.1% | · | -30.3% | · | · | · | |
| EBITDA Margin | 9.4% | 14.6% | · | 2.3% | · | · | · | |
| ROA | 5.5% | 23.6% | · | -16.7% | · | · | · | |
| ROE | 7.7% | 31.9% | · | -24.5% | · | · | · | |
| ROIC | 3.7% | 7.3% | · | -0.04% | · | · | · |
Liquidity & Solvency 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.6 | 2.8 | · | 2.3 | · | · | · | |
| Quick Ratio | 1.8 | 1.9 | · | 1.4 | · | · | · | |
| Debt / Equity | 0.0 | 0.0 | · | 0.0 | · | · | · | |
| LT Debt / Equity | 0.0 | 0.0 | · | 0.0 | · | · | · |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.5 | 0.5 | · | 0.6 | · | · | · | |
| Receivables Turnover | 6.5 | 6.9 | · | 6.8 | · | · | · |
Valuation (TTM) 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.42B | · | · | · | · | · | · | |
| Net Income TTM | $136M | · | · | · | · | · | · | |
| Market Cap | $3.66B | $3.67B | · | $3.28B | · | · | · | |
| Enterprise Value | $3.01B | $3.12B | · | $2.88B | · | · | · | |
| P/E | 46.5 | · | · | · | · | · | · | |
| P/S | 2.6 | · | · | · | · | · | · | |
| P/B | 3.2 | 3.4 | · | 3.9 | · | · | · | |
| P / Tangible Book | 4.0 | 4.4 | · | 5.7 | · | · | · | |
| P / Cash Flow | · | 60.2 | · | · | · | · | · | |
| P / FCF | · | 74.5 | · | · | · | · | · | |
| EV / EBITDA | 82.2 | 57.7 | · | 363.8 | · | · | · | |
| EV / FCF | · | 63.4 | · | · | · | · | · | |
| EV / Revenue | 2.1 | · | · | · | · | · | · | |
| Earnings Yield | 2.1% | · | · | · | · | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | |
|---|---|---|---|
| Revenue | $1.36B | $1.14B | $1.04B |
| Gross Margin % | 31.6% | — | — |
| Operating Margin % | 6.7% | — | — |
| Net Income | $-70M | $102M | $-21M |
| Diluted EPS | $-1.00 | $1.39 | $-0.37 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | |
|---|---|---|---|
| Debt / Equity | 0.0 | — | — |
| Current Ratio | 2.5 | — | — |
| Quick Ratio | 1.6 | — | — |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | |
|---|---|---|---|
| Free Cash Flow | $145M | — | — |
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Institutional owners (13F) 227 filers · $2.0B 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 |
|---|---|---|---|---|
| 52 (-31 vs prior Q) | 37 (+7 vs prior Q) | 91 (+14 vs prior Q) | 51 (+19 vs prior Q) | +19.6M |
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 |
|---|---|---|---|---|
| HORIZON KINETICS ASSET MANAGEMENT LLC | $291,415,166 | 7,842,173 | 14.67% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $140,703,293 | 3,786,418 | 7.08% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $123,545,741 | 3,324,697 | 6.22% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $117,636,892 | 3,165,686 | 5.92% | Shares |
| VANGUARD GROUP INC | $78,139,378 | 1,760,689 | 3.93% | Shares |
| J Digital 6 LLC | $67,156,815 | 1,807,234 | 3.38% | Shares |
| BLAIR WILLIAM & CO/IL | $65,752,093 | 1,769,432 | 3.31% | Shares |
| Balyasny Asset Management L.P. | $62,537,456 | 1,682,924 | 3.15% | Shares |
| AMERICAN CENTURY COMPANIES INC | $58,980,261 | 1,587,196 | 2.97% | Shares |
| STATE STREET CORP | $53,246,341 | 1,432,894 | 2.68% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $45,070,439 | 1,212,708 | 2.27% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $42,508,067 | 1,143,920 | 2.14% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $38,625,925 | 1,039,449 | 1.94% | Shares |
| TWO SIGMA INVESTMENTS, LP | $33,002,130 | 888,109 | 1.66% | Shares |
| Alyeska Investment Group, L.P. | $31,539,550 | 848,750 | 1.59% | Shares |
| FRANKLIN RESOURCES INC | $29,163,130 | 784,799 | 1.47% | Shares |
| Walleye Capital LLC | $27,053,743 | 728,034 | 1.36% | Shares |
| WESTFIELD CAPITAL MANAGEMENT CO LP | $26,039,536 | 700,741 | 1.31% | Shares |
| NewEdge Advisors, LLC | $25,328,627 | 681,610 | 1.28% | Shares |
| BANK OF AMERICA CORP /DE/ | $24,774,498 | 666,698 | 1.25% | Shares |
| Caldwell Investment Management Ltd. | $22,279,367 | 600,000 | 1.12% | Shares |
| Driehaus Capital Management LLC | $21,034,492 | 566,052 | 1.06% | Shares |
| AMERIPRISE FINANCIAL INC | $20,760,065 | 558,667 | 1.05% | Shares |
| SEVEN GRAND MANAGERS, LLC | $20,438,000 | 550,000 | 1.03% | Shares |
| Ghisallo Capital Management LLC | $18,580,000 | 500,000 | 0.94% | Shares |
| Clearstead Advisors, LLC | $17,611,499 | 473,937 | 0.89% | Shares |
| ROYCE & ASSOCIATES LP | $16,826,531 | 452,813 | 0.85% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $15,883,113 | 427,425 | 0.80% | Shares |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | $15,097,142 | 406,274 | 0.76% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $14,666,606 | 394,688 | 0.74% | Shares |
| GOLDMAN SACHS GROUP INC | $13,967,961 | 375,887 | 0.70% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $13,880,784 | 373,541 | 0.70% | Shares |
| TOCQUEVILLE ASSET MANAGEMENT L.P. | $12,568,441 | 338,225 | 0.63% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $11,717,886 | 315,336 | 0.59% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $11,237,184 | 302,400 | 0.57% | Call option |
| Assenagon Asset Management S.A. | $11,067,437 | 297,832 | 0.56% | Shares |
| Burkehill Global Management, LP | $10,776,400 | 290,000 | 0.54% | Shares |
| MAD RIVER INVESTORS | $10,739,240 | 289,000 | 0.54% | Shares |
| BARCLAYS PLC | $10,570,311 | 284,454 | 0.53% | Shares |
| Langdon Equity Partners | $10,497,700 | 282,500 | 0.53% | Shares |
| Nearwater Capital Markets, Ltd | $10,367,640 | 279,000 | 0.52% | Shares |
| Caprock Group, LLC | $9,656,881 | 259,873 | 0.49% | Shares |
| North Reef Capital Management LP | $9,340,315 | 251,354 | 0.47% | Shares |
| NORGES BANK | $8,840,364 | 237,900 | 0.45% | Shares |
| York GP, Ltd. | $8,573,890 | 230,729 | 0.43% | Shares |
| Philadelphia Financial Management of San Francisco, LLC | $8,313,249 | 223,715 | 0.42% | Shares |
| JENNISON ASSOCIATES LLC | $7,787,994 | 209,580 | 0.39% | Shares |
| Schonfeld Strategic Advisors LLC | $7,438,724 | 200,181 | 0.37% | Shares |
| FEDERATED HERMES, INC. | $7,432,000 | 200,000 | 0.37% | Shares |
| BlueCrest Capital Management Ltd | $7,432,000 | 200,000 | 0.37% | Shares |
| D. E. Shaw & Co., Inc. | $7,122,866 | 191,681 | 0.36% | Shares |
| Hudson Bay Capital Management LP | $7,068,687 | 190,223 | 0.36% | Shares |
| MILLENNIUM MANAGEMENT LLC | $7,027,142 | 189,105 | 0.35% | Shares |
| Coastal Bridge Advisors, LLC | $6,828,559 | 183,761 | 0.34% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $6,587,465 | 177,273 | 0.33% | Shares |
| XTX Topco Ltd | $6,349,009 | 170,856 | 0.32% | Shares |
| Optiver Holding B.V. | $5,658,910 | 152,285 | 0.28% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $5,622,271 | 151,299 | 0.28% | Shares |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | $5,617,812 | 151,179 | 0.28% | Shares |
| Sone Capital Management, LLC | $5,161,635 | 138,903 | 0.26% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $5,131,796 | 138,100 | 0.26% | Put option |
| HMV Wealth Advisors, LLC | $5,126,482 | 137,957 | 0.26% | Shares |
| Focus Partners Advisor Solutions, LLC | $5,081,110 | 136,736 | 0.26% | Shares |
| CITADEL ADVISORS LLC | $4,652,432 | 125,200 | 0.23% | Call option |
| FJ Capital Management LLC | $4,433,151 | 119,299 | 0.22% | Shares |
| Moors & Cabot, Inc. | $4,418,473 | 118,904 | 0.22% | Shares |
| One Charles Private Wealth Services, LLC | $4,400,450 | 118,419 | 0.22% | Shares |
| HighTower Advisors, LLC | $4,172,994 | 112,298 | 0.21% | Shares |
| TD Asset Management Inc | $4,076,749 | 109,708 | 0.21% | Shares |
| Delta Global Management LP | $4,075,151 | 109,665 | 0.21% | Shares |
| INTRINSIC EDGE CAPITAL MANAGEMENT LLC | $3,939,666 | 106,019 | 0.20% | Shares |
| Qube Research & Technologies Ltd | $3,757,062 | 101,105 | 0.19% | Shares |
| ALLIANCEBERNSTEIN L.P. | $3,471,664 | 89,200 | 0.17% | Shares |
| RHUMBLINE ADVISERS | $3,332,053 | 89,668 | 0.17% | Shares |
| G2 Investment Partners Management LLC | $3,158,600 | 85,000 | 0.16% | Shares |
| JPMORGAN CHASE & CO | $3,124,915 | 84,847 | 0.16% | Shares |
| Polar Capital Holdings Plc | $3,069,527 | 82,603 | 0.15% | Shares |
| MBL Wealth, LLC | $2,931,999 | 78,902 | 0.15% | Shares |
| JANE STREET GROUP, LLC | $2,612,348 | 70,300 | 0.13% | Call option |
| SPIREPOINT PRIVATE CLIENT, LLC | $2,559,692 | 68,883 | 0.13% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $2,353,863 | 63,344 | 0.12% | Shares |
| Voleon Capital Management LP | $2,163,975 | 58,234 | 0.11% | Shares |
| EagleClaw Capital Managment, LLC | $2,147,848 | 57,800 | 0.11% | Shares |
| BlackRock, Inc. | $2,074,643 | 55,830 | 0.10% | Shares |
| Nuveen, LLC | $2,019,200 | 54,338 | 0.10% | Shares |
| CITADEL ADVISORS LLC | $2,010,356 | 54,100 | 0.10% | Put option |
| CREDIT AGRICOLE S A | $1,895,234 | 51,002 | 0.10% | Shares |
| Caption Management, LLC | $1,895,160 | 51,000 | 0.10% | Call option |
| Atlas Brown,Inc. | $1,668,707 | 44,906 | 0.08% | Shares |
| MetLife Investment Management, LLC | $1,663,728 | 44,772 | 0.08% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $1,653,620 | 44,500 | 0.08% | Shares |
| JANE STREET GROUP, LLC | $1,631,324 | 43,900 | 0.08% | Put option |
| LPL Financial LLC | $1,628,983 | 43,837 | 0.08% | Shares |
| TWINBEECH CAPITAL LP | $1,581,976 | 42,572 | 0.08% | Shares |
| WELLS FARGO & COMPANY/MN | $1,530,881 | 41,197 | 0.08% | Shares |
| Atlas Wealth Partners, LLC | $1,431,775 | 38,530 | 0.07% | Shares |
| KING LUTHER CAPITAL MANAGEMENT CORP | $1,420,330 | 38,222 | 0.07% | Shares |
| Swiss National Bank | $1,382,352 | 37,200 | 0.07% | Shares |
| Pekin Hardy Strauss, Inc. | $1,368,974 | 36,840 | 0.07% | Shares |
| C2P Capital Advisory Group, LLC d.b.a. Prosperity Capital Advisors | $1,364,850 | 36,729 | 0.07% | Shares |
Company insiders 24 insiders · 6 officers · 13 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Thomas P. Gallagher | Chairman & CEO | Aug. 19, 2026 S | 1,423,275 | 0 | 6 | $-17,258,522 |
| Cees Vermaas | CEO of TISEG | June 16, 2026 A | 4,660 | 0 | 0 | $0 |
| Lance Emmons | EVP and CFO | Aug. 17, 2026 S | 86,538 | 0 | 1 | $-1,499,050 |
| Barbara J. Comly | EVP, GC & Corporate Secretary | Aug. 18, 2026 F | 839,564 | 0 | 4 | $-5,560,092 |
| Shelly Brown | EVP, Chief Strategy Officer | July 6, 2026 M | 353,990 | 0 | 3 | $-1,556,500 |
| John Smollen | EVP, New Product Development | June 16, 2026 A | 178,212 | 0 | 0 | $0 |
| Cynthia Schwarzkopf | Director | Aug. 17, 2026 M | 88,545 | 0 | 3 | $-1,237,985 |
| David A Brown | Director | July 8, 2026 F | 7,066 | 0 | 0 | $0 |
| Lisa Moore | Director | June 16, 2026 A | 12,737 | 0 | 0 | $0 |
| Kenneth W. Lozier | Director | June 16, 2026 A | 8,237 | 0 | 0 | $0 |
| Mark I. Massad | Director | June 16, 2026 A | 10,737 | 0 | 0 | $0 |
| Talal Jassim Al-Bahar | Director | June 16, 2026 A | 40,891 | 0 | 0 | $0 |
| John Beckelman | Director | June 16, 2026 A | 15,904 | 0 | 0 | $0 |
| Mark F. Raymond | Director | June 16, 2026 M | 67,064 | 0 | 0 | $0 |
| Eric Sites | Director | June 16, 2026 A | 5,684 | 0 | 0 | $0 |
| Paul Stahlin | Director | June 16, 2026 A | 42,143 | 0 | 0 | $0 |
| Jill E. Sommers | Director | June 16, 2026 A | 6,083 | 0 | 0 | $0 |
| Lee Becker | Director | June 15, 2026 A | 2,267 | 0 | 0 | $0 |
| HORIZON KINETICS ASSET MANAGEMENT LLC | 10% owner | May 19, 2026 J | 2,170,898 | 0 | 0 | $0 |
| Kurt M. Eckert | — | Aug. 4, 2026 M | 149,612 | 0 | 3 | $-479,763 |
| Edward Deitzel | — | Aug. 4, 2026 M | 119,601 | 0 | 3 | $-1,429,780 |
| Harish Jayabalan | — | Aug. 4, 2026 M | 78,065 | 0 | 3 | $-2,170,306 |
| Douglas M. Schafer JR | — | Aug. 4, 2026 M | 387,414 | 0 | 3 | $-6,228,960 |
| Judson Gray Teekell | — | Aug. 4, 2026 S | 72,251 | 0 | 3 | $-385,710 |
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 |
|---|---|---|---|---|---|
| HORIZON KINETICS ASSET MANAGEMENT LLC, Horizon Kinetics Holding Corp ×5 filings | May 21, 2026 | 7.80% | Amendment | Passive investment | SEC |
| Thomas P. Gallagher, Gallagher Investments LLC ×2 filings | Aug. 28, 2025 | 4.90% | Amendment | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 32 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 |
|---|---|---|---|---|
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.20% | 32,672 NS | May 31, 2026 | N-PORT |
| IWO · iShares Trust | 0.20% | 716,194 SH | Aug. 21, 2026 | Daily |
| FTKI · First Trust Exchange-Traded Fund VI | 0.18% | 1,155 NS | June 30, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.17% | 82,084 SH | Aug. 19, 2026 | Daily |
| BKSE · BNY Mellon ETF Trust | 0.15% | 2,575 NS | April 30, 2026 | N-PORT |
| KBWR · Invesco Exchange-Traded Fund Trust … | 0.14% | 1,538 NS | May 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.10% | 1,963,581 SH | Aug. 21, 2026 | Daily |
| ISCG · iShares Trust | 0.10% | 24,037 SH | Aug. 21, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.09% | 440,657 SH | Aug. 19, 2026 | Daily |
| VBR · VANGUARD INDEX FUNDS | 0.07% | 1,243,674 SH | Aug. 19, 2026 | Daily |
| ISCB · iShares Trust | 0.05% | 3,490 SH | Aug. 21, 2026 | Daily |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.04% | 6,417 NS | April 30, 2026 | N-PORT |
| VB · VANGUARD INDEX FUNDS | 0.04% | 1,959,732 SH | Aug. 19, 2026 | Daily |
| RSSL · Global X Funds | 0.03% | 10,681 NS | April 30, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.03% | 146,784 NS | May 31, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.03% | 1,159 NS | May 31, 2026 | N-PORT |
| RB · ProShares Trust | 0.03% | 7 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.02% | 906 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.01% | 916 NS | May 31, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.01% | 7,025 SH | Aug. 21, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 369,891 SH | Aug. 19, 2026 | Daily |
| VFH · VANGUARD WORLD FUND | 0.01% | 30,303 SH | Aug. 19, 2026 | Daily |
| FNCL · FIDELITY COVINGTON TRUST | 0.01% | 4,723 NS | April 30, 2026 | N-PORT |
| WSML · iShares Trust | 0.01% | 980 SH | Aug. 21, 2026 | Daily |
| HDG · ProShares Trust | 0.01% | 23 NS | May 31, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 20,341 SH | Aug. 21, 2026 | Daily |
| ITOT · iShares Trust | 0.00% | 48,902 SH | Aug. 21, 2026 | Daily |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 17,703 NS | May 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 2,711,581 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 6,296 SH | Aug. 19, 2026 | Daily |
| IAI · iShares Trust | — | 39,114 SH | Aug. 19, 2026 | Daily |
| SMLF · iShares Trust | — | 83,788 SH | Aug. 21, 2026 | Daily |