MRP Millrose Properties, Inc. Class A Common Stock
MRP Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
MRP Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount |
|---|---|
| July 6, 2026 | $0.7700 |
| April 2, 2026 | $0.7600 |
| Jan. 5, 2026 | $0.7500 |
| Oct. 3, 2025 | $0.7300 |
| July 3, 2025 | $0.6900 |
| April 4, 2025 | $0.3800 |
MRP Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 1 20.0%
- Buy 3 60.0%
- Hold 1 20.0%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
5 analysts · 2026-08-14Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| MRP | — | 12.2 | — | 63.3% | 6.5% | — |
| IRM | $24.54B | 169.3 | 12.2% | 2.2% | -20.5% | — |
| VICI | $30.05B | 10.8 | 4.1% | 69.3% | 10.2% | — |
| LAMR | — | 21.9 | 2.7% | 25.9% | 60.8% | — |
| GLPI | $12.65B | 15.1 | 4.1% | 51.7% | 18.6% | — |
| OUT | $4.22B | 29.4 | 0.04% | 8.0% | 23.5% | — |
| EPR | — | 15.2 | 2.9% | 38.3% | 11.8% | — |
| FCPT | $2.49B | 21.2 | 9.7% | 38.2% | 7.2% | — |
| SAFE | $982M | 8.6 | 5.4% | 29.7% | 4.8% | — |
| FPI | $418M | 15.9 | -10.4% | 60.5% | 6.7% | — |
| LAND | $348M | -31.6 | 3.7% | 15.3% | 2.0% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 |
|---|---|---|
| Revenue | $600M | |
| SG&A Expense | $25M | |
| Operating Expenses | $114M | |
| Operating Income | $486M | |
| Interest Income | $8M | |
| Other Non-op | $-2M | |
| Pretax Income | $400M | |
| Income Tax | $21M | |
| Net Income | $380M | |
| EPS (Basic) | $2.44 | |
| EPS (Diluted) | $2.44 | |
| Shares (Basic) | 166,003,497 | |
| Shares (Diluted) | 166,026,608 | |
| EBITDA | $486M |
Balance Sheet 7
| Metric | Trend | 2025 |
|---|---|---|
| Cash & Equivalents | $35M | |
| Total Assets | $9.26B | |
| Deferred Tax | $77M | |
| Total Liabilities | $3.40B | |
| Paid-in Capital | $5.87B | |
| Stockholders' Equity | $5.86B | |
| Liabilities + Equity | $9.26B |
Cash Flow 8
| Metric | Trend | 2025 |
|---|---|---|
| Stock-based Comp | $677.0K | |
| Deferred Tax | $21M | |
| Operating Cash Flow | $3.67B | |
| Investing Cash Flow | $-5.72B | |
| Dividends Paid | $299M | |
| Financing Cash Flow | $2.08B | |
| Net Change in Cash | $35M | |
| Taxes Paid | $8M |
Profitability 7
| Metric | Trend | 2025 |
|---|---|---|
| Operating Margin | 81.0% | |
| Net Margin | 63.3% | |
| Pretax Margin | 66.7% | |
| EBITDA Margin | 81.0% | |
| ROA | 5.2% | |
| ROE | 6.5% | |
| ROIC | 7.9% |
Efficiency 1
| Metric | Trend | 2025 |
|---|---|---|
| Asset Turnover | 0.1 |
Valuation (TTM) 6
| Metric | Trend | 2025 |
|---|---|---|
| Revenue TTM | $600M | |
| Net Income TTM | $380M | |
| P/E | 12.2 | |
| Earnings Yield | 8.2% | |
| Payout Ratio | 78.7% | |
| Annual Payout | $299M |
Income Statement 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $197M | $195M | $190M | $179M | $149M | $83M | |
| Operating Expenses | $29M | $29M | $29M | $26M | $22M | $37M | |
| Operating Income | $168M | $166M | $161M | $153M | $127M | $46M | |
| Interest Income | $1M | $1M | $2M | $2M | $2M | $1M | |
| Other Non-op | $-391.0K | $-79.0K | $1M | $-616.0K | $-866.0K | $-1M | |
| Pretax Income | $128M | $128M | $128M | $111M | $118M | $44M | |
| Income Tax | $2M | $5M | $5M | $6M | $5M | $4M | |
| Net Income | $126M | $123M | $122M | $105M | $113M | $40M | |
| EPS (Basic) | $0.76 | $0.74 | $0.74 | $0.63 | $0.68 | $0.39 | |
| EPS (Diluted) | $0.76 | $0.74 | $0.74 | $0.63 | $0.68 | $0.39 | |
| Shares (Basic) | 166,046,951 | 166,003,497 | -332,006,994 | 166,003,497 | 166,003,497 | 166,003,497 | |
| Shares (Diluted) | 166,060,914 | 166,027,250 | -332,039,861 | 166,031,797 | 166,031,175 | 166,003,497 | |
| EBITDA | $168M | $166M | · | $153M | $127M | $46M |
Balance Sheet 9
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $34M | $49M | $35M | $243M | $67M | $90M | |
| Inventory | · | · | · | $8.36B | $7.85B | $7.00B | |
| Total Assets | $9.71B | $9.57B | $9.26B | $9.02B | $7.97B | $7.15B | |
| Deferred Tax | $85M | $82M | $77M | $72M | $57M | $57M | |
| Total Liabilities | $3.86B | $3.72B | $3.40B | $3.17B | $2.10B | $1.28B | |
| Paid-in Capital | $5.87B | $5.87B | $5.87B | $5.87B | $5.87B | $5.87B | |
| Retained Earnings | · | · | · | · | $-98.0K | $2M | |
| Stockholders' Equity | $5.85B | $5.85B | $5.86B | $5.86B | $5.87B | $5.88B | |
| Liabilities + Equity | $9.71B | $9.57B | $9.26B | $9.02B | $7.97B | $7.15B |
Cash Flow 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| Stock-based Comp | $217.0K | $692.0K | $307.0K | $189.0K | · | · | |
| Deferred Tax | $3M | $5M | $6M | $15M | $24.0K | $65.0K | |
| Operating Cash Flow | $886M | $797M | $3.42B | $123M | $109M | $714M | |
| Investing Cash Flow | $-835M | $-962M | $-3.61B | $-775M | $-727M | $-1.30B | |
| Dividends Paid | $126M | $125M | $121M | $115M | · | · | |
| Financing Cash Flow | $-66M | $179M | $-13M | $828M | $595M | $674M | |
| Net Change in Cash | $-15M | $14M | $-208M | $176M | $-23M | $90M | |
| Taxes Paid | $0 | $0 | $0 | $0 | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| Operating Margin | 85.2% | 85.2% | · | 85.3% | 85.1% | 55.2% | |
| Net Margin | 63.9% | 63.0% | · | 58.6% | 75.7% | 48.1% | |
| Pretax Margin | 65.2% | 65.6% | · | 61.9% | 78.9% | 53.4% | |
| EBITDA Margin | 85.2% | 85.2% | · | 85.3% | 85.1% | 55.2% | |
| ROA | 1.4% | 1.5% | · | 2.3% | 2.8% | 1.1% | |
| ROE | 2.1% | 2.1% | · | 3.6% | 3.8% | 1.4% | |
| ROIC | 2.8% | 2.7% | · | 2.5% | 2.1% | 0.70% |
Efficiency 1
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 |
Valuation (TTM) 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| Revenue TTM | $720M | $606M | · | · | · | · | |
| Net Income TTM | $467M | $381M | · | $194M | $29M | $-141M | |
| P/E | 10.7 | 11.5 | · | · | · | · | |
| Earnings Yield | 9.3% | 8.7% | · | · | · | · | |
| Payout Ratio | · | 101.3% | · | · | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | |
|---|---|---|---|
| Revenue | $600M | — | — |
| Operating Margin % | 81.0% | — | — |
| Net Income | $380M | $-246M | $-210M |
| Diluted EPS | $2.44 | — | — |
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Institutional owners (13F) 557 filers · $3.0B 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.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 103 (+20 vs prior Q) | 48 (-16 vs prior Q) | 169 (+12 vs prior Q) | 132 (+1 vs prior Q) | +1.6M |
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 |
|---|---|---|---|---|
| VANGUARD PORTFOLIO MANAGEMENT LLC | $467,585,152 | 15,560,238 | 15.33% | Shares |
| FMR LLC | $239,226,752 | 7,960,957 | 7.84% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $208,566,983 | 6,940,665 | 6.84% | Shares |
| STATE STREET CORP | $205,075,414 | 6,824,473 | 6.72% | Shares |
| Brave Warrior Advisors, LLC | $181,223,286 | 6,030,725 | 5.94% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $122,913,336 | 4,090,294 | 4.03% | Shares |
| Permian Investment Partners, LP | $119,518,346 | 3,977,316 | 3.92% | Shares |
| NORGES BANK | $117,779,653 | 3,919,456 | 3.86% | Shares |
| Cannell & Spears LLC | $111,287,410 | 3,703,408 | 3.65% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $77,710,731 | 2,585,325 | 2.55% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $72,071,980 | 2,398,402 | 2.36% | Shares |
| TWO SIGMA INVESTMENTS, LP | $43,374,741 | 1,443,419 | 1.42% | Shares |
| TWO SIGMA ADVISERS, LP | $41,870,332 | 1,401,752 | 1.37% | Shares |
| MANGROVE PARTNERS IM, LLC | $41,498,810 | 1,380,992 | 1.36% | Shares |
| Gotham Asset Management, LLC | $31,537,295 | 1,049,494 | 1.03% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $29,926,134 | 995,878 | 0.98% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $29,262,359 | 973,789 | 0.96% | Shares |
| MORGAN STANLEY | $26,292,358 | 874,953 | 0.86% | Shares |
| Callodine Capital Management, LP | $24,918,572 | 829,237 | 0.82% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $22,817,897 | 759,331 | 0.75% | Shares |
| GOLDMAN SACHS GROUP INC | $22,636,635 | 753,299 | 0.74% | Shares |
| Pacific Heights Asset Management LLC | $22,537,500 | 750,000 | 0.74% | Shares |
| Nuveen, LLC | $21,363,567 | 710,934 | 0.70% | Shares |
| Public Sector Pension Investment Board | $20,136,565 | 670,102 | 0.66% | Shares |
| Man Group plc | $20,104,021 | 669,019 | 0.66% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $19,251,983 | 640,665 | 0.63% | Shares |
| Ancora Advisors LLC | $18,800,782 | 625,650 | 0.62% | Shares |
| Capital World Investors | $16,676,338 | 554,953 | 0.55% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $16,082,760 | 535,200 | 0.53% | Call option |
| GABELLI FUNDS LLC | $15,932,149 | 530,188 | 0.52% | Shares |
| RAYMOND JAMES FINANCIAL INC | $14,888,675 | 495,463 | 0.49% | Shares |
| HAWK RIDGE CAPITAL MANAGEMENT LP | $14,709,745 | 489,509 | 0.48% | Shares |
| ALGERT GLOBAL LLC | $12,616,793 | 419,860 | 0.41% | Shares |
| WATERFALL ASSET MANAGEMENT, LLC | $12,541,698 | 417,361 | 0.41% | Shares |
| Adelante Capital Management LLC | $12,345,771 | 410,847 | 0.40% | Shares |
| AMERICAN CENTURY COMPANIES INC | $11,673,104 | 388,456 | 0.38% | Shares |
| Gilman Hill Asset Management, LLC | $11,671,577 | 388,405 | 0.38% | Shares |
| Hudson Bay Capital Management LP | $11,321,398 | 376,752 | 0.37% | Shares |
| NATIXIS | $11,110,447 | 369,732 | 0.36% | Shares |
| GAMCO INVESTORS, INC. ET AL | $10,674,571 | 355,227 | 0.35% | Shares |
| AMERIPRISE FINANCIAL INC | $10,385,762 | 345,616 | 0.34% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $10,117,090 | 336,675 | 0.33% | Shares |
| INTRINSIC EDGE CAPITAL MANAGEMENT LLC | $9,459,740 | 314,800 | 0.31% | Shares |
| Swiss National Bank | $9,297,049 | 309,386 | 0.30% | Shares |
| RHUMBLINE ADVISERS | $9,243,492 | 307,605 | 0.30% | Shares |
| Qube Research & Technologies Ltd | $9,128,890 | 303,790 | 0.30% | Shares |
| Madison Avenue Partners, LP | $8,968,753 | 298,461 | 0.29% | Shares |
| Cetera Investment Advisers | $8,835,409 | 294,023 | 0.29% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $8,826,436 | 293,725 | 0.29% | Shares |
| Columbus Macro, LLC | $8,713,010 | 289,950 | 0.29% | Shares |
| California Public Employees Retirement System | $8,520,497 | 283,544 | 0.28% | Shares |
| BlackRock, Inc. | $8,336,140 | 277,409 | 0.27% | Shares |
| FIRST TRUST ADVISORS LP | $7,679,174 | 255,547 | 0.25% | Shares |
| ASSETMARK, INC | $7,593,503 | 252,696 | 0.25% | Shares |
| ROBOTTI ROBERT | $7,522,266 | 250,325 | 0.25% | Shares |
| BANK OF AMERICA CORP /DE/ | $7,510,697 | 249,940 | 0.25% | Shares |
| PRUDENTIAL FINANCIAL INC | $7,433,198 | 247,361 | 0.24% | Shares |
| UBS Group AG | $7,397,469 | 246,172 | 0.24% | Shares |
| Legal & General Group Plc | $7,189,191 | 239,241 | 0.24% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $7,034,314 | 234,087 | 0.23% | Shares |
| Miller Value Partners, LLC | $6,890,465 | 229,300 | 0.23% | Shares |
| Keeley-Teton Advisors, LLC | $6,633,465 | 250,225 | 0.22% | Shares |
| Verition Fund Management LLC | $6,595,254 | 219,476 | 0.22% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $6,573,768 | 218,761 | 0.22% | Shares |
| CAAS CAPITAL MANAGEMENT LP | $6,492,140 | 244,894 | 0.21% | Shares |
| Asset Management One Co., Ltd. | $6,394,976 | 228,392 | 0.21% | Shares |
| Cerity Partners LLC | $6,384,828 | 212,474 | 0.21% | Shares |
| Limestone Investment Advisors LP | $6,124,040 | 203,795 | 0.20% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $5,934,725 | 197,495 | 0.19% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $5,912,037 | 196,740 | 0.19% | Shares |
| North Ground Capital | $5,384,960 | 179,200 | 0.18% | Shares |
| PEREGRINE CAPITAL MANAGEMENT LLC | $5,330,089 | 177,374 | 0.17% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $5,248,404 | 187,443 | 0.17% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $5,240,540 | 174,394 | 0.17% | Shares |
| Quantinno Capital Management LP | $5,140,604 | 171,068 | 0.17% | Shares |
| JUPITER ASSET MANAGEMENT LTD | $4,855,960 | 161,596 | 0.16% | Shares |
| JANE STREET GROUP, LLC | $4,624,695 | 153,900 | 0.15% | Call option |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS | $4,532,442 | 150,830 | 0.15% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $4,506,719 | 149,974 | 0.15% | Shares |
| CITADEL ADVISORS LLC | $4,354,245 | 144,900 | 0.14% | Call option |
| WOLVERINE ASSET MANAGEMENT LLC | $4,342,225 | 144,500 | 0.14% | Put option |
| ALLIANCEBERNSTEIN L.P. | $4,221,448 | 150,766 | 0.14% | Shares |
| Vanguard Investments Australia, Ltd. | $4,118,082 | 137,041 | 0.14% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $3,988,086 | 132,715 | 0.13% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $3,794,082 | 126,259 | 0.12% | Shares |
| VANGUARD GROUP INC | $3,707,166 | 124,110 | 0.12% | Shares |
| CITADEL ADVISORS LLC | $3,685,633 | 122,650 | 0.12% | Put option |
| BARCLAYS PLC | $3,471,648 | 115,529 | 0.11% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $3,438,201 | 114,416 | 0.11% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $3,428,525 | 114,094 | 0.11% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $3,414,852 | 113,639 | 0.11% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $3,336,031 | 111,016 | 0.11% | Shares |
| First Dallas Securities Inc. | $3,323,520 | 110,600 | 0.11% | Shares |
| BERKSHIRE ASSET MANAGEMENT LLC/PA | $3,203,150 | 106,594 | 0.11% | Shares |
| Brookstone Capital Management | $3,167,063 | 105,393 | 0.10% | Shares |
| MANNING & NAPIER ADVISORS LLC | $2,909,441 | 96,820 | 0.10% | Shares |
| Corient Private Wealth LP | $2,859,683 | 95,165 | 0.09% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $2,836,776 | 107,150 | 0.09% | Shares |
| Amundi | $2,830,890 | 94,206 | 0.09% | Shares |
| Hodges Capital Management Inc. | $2,806,705 | 93,401 | 0.09% | Shares |
Company insiders 10 insiders · 5 officers · 3 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Darren Richman | Chief Executive Officer and President | May 11, 2026 P | 84,000 | 2 | 0 | $6,417,850 |
| Garett Rosenblum | Chief Financial Officer and Treasurer | March 3, 2025 P | 5,900 | 0 | 0 | $0 |
| Robert Nitkin | Chief Operating Officer | May 12, 2026 P | 5,065 | 1 | 0 | $48,944 |
| Rachel Presa | General Counsel and Secretary | May 13, 2026 P | 2,500 | 4 | 0 | $43,277 |
| Adil Pasha | Chief Technology Officer | May 21, 2025 P | 2,500 | 0 | 0 | $0 |
| Mary Alison Mincey | Director | May 13, 2026 A | 17,750 | 0 | 0 | $0 |
| Kathleen B. Lynch | Director | May 13, 2026 A | 21,600 | 1 | 0 | $59,036 |
| Patrick J Bartels JR | Director | May 13, 2026 A | 42,750 | 1 | 0 | $243,900 |
| Matthew B. Gorson | — | Aug. 10, 2026 P | 38,750 | 4 | 0 | $320,105 |
| Carlos A Migoya | — | Aug. 7, 2026 P | 30,075 | 2 | 0 | $61,420 |
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 |
|---|---|---|---|---|---|
| Stuart A. Miller | Feb. 14, 2025 | 7.50% | Initial filing | — | SEC |
| LMM Family Corp., MP Alpha Holdings LLLP, The Miller Charitable Fund, LLLP | Feb. 14, 2025 | 6.50% | 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 87 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 |
|---|---|---|---|---|
| HAUS · Tidal Trust I | 4.13% | 11,559 NS | April 30, 2026 | N-PORT |
| RIET · ETF Series Solutions | 1.31% | 48,509 NS | May 31, 2026 | N-PORT |
| WBIY · Absolute Shares Trust | 1.10% | 21,509 NS | June 30, 2026 | N-PORT |
| CALF · Pacer Funds Trust | 1.08% | 1,215,992 NS | April 30, 2026 | N-PORT |
| FNK · First Trust Exchange-Traded AlphaDE… | 0.77% | 54,428 NS | April 30, 2026 | N-PORT |
| HOMZ · ETF Series Solutions | 0.74% | 8,919 NS | May 31, 2026 | N-PORT |
| HIDV · AB Active ETFs, Inc. | 0.64% | 43,391 NS | May 31, 2026 | N-PORT |
| GQRE · FlexShares Trust | 0.46% | 57,358 NS | April 30, 2026 | N-PORT |
| FNX · First Trust Exchange-Traded AlphaDE… | 0.37% | 162,467 NS | April 30, 2026 | N-PORT |
| SCHH · SCHWAB STRATEGIC TRUST | 0.31% | 1,090,592 NS | May 31, 2026 | N-PORT |
| FREL · FIDELITY COVINGTON TRUST | 0.30% | 140,981 NS | April 30, 2026 | N-PORT |
| FFLC · FIDELITY COVINGTON TRUST | 0.27% | 98,052 NS | April 30, 2026 | N-PORT |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.23% | 10,519 NS | April 30, 2026 | N-PORT |
| AVRE · AMERICAN CENTURY ETF TRUST | 0.23% | 64,978 NS | May 31, 2026 | N-PORT |
| SMDX · Tidal Trust III | 0.22% | 8,834 NS | April 30, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.20% | 46,704 NS | April 30, 2026 | N-PORT |
| SAA · ProShares Trust | 0.19% | 1,846 NS | May 31, 2026 | N-PORT |
| BKSE · BNY Mellon ETF Trust | 0.16% | 4,271 NS | April 30, 2026 | N-PORT |
| FYEE · Fidelity Greenwood Street Trust | 0.14% | 7,360 NS | April 30, 2026 | N-PORT |
| FBUF · Fidelity Greenwood Street Trust | 0.13% | 795 NS | April 30, 2026 | N-PORT |
| JPME · J.P. Morgan Exchange-Traded Fund Tr… | 0.13% | 17,852 NS | April 30, 2026 | N-PORT |
| PRAY · FIS Trust | 0.12% | 3,425 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.09% | 742,987 NS | May 31, 2026 | N-PORT |
| JPUS · J.P. Morgan Exchange-Traded Fund Tr… | 0.07% | 9,582 NS | April 30, 2026 | N-PORT |
| JVAL · J.P. Morgan Exchange-Traded Fund Tr… | 0.06% | 15,236 NS | April 30, 2026 | N-PORT |
| FHEQ · Fidelity Greenwood Street Trust | 0.06% | 17,021 NS | April 30, 2026 | N-PORT |
| JMOM · J.P. Morgan Exchange-Traded Fund Tr… | 0.06% | 44,451 NS | April 30, 2026 | N-PORT |
| BBRE · J.P. Morgan Exchange-Traded Fund Tr… | 0.06% | 24,776 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.02% | 6,082 NS | May 31, 2026 | N-PORT |
| GVUS · Goldman Sachs ETF Trust | 0.01% | 1,853 NS | May 31, 2026 | N-PORT |
| ACVF · ETF Opportunities Trust | 0.01% | 333 NS | April 30, 2026 | N-PORT |
| SCHK · SCHWAB STRATEGIC TRUST | 0.01% | 12,224 NS | May 31, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.01% | 91,704 NS | May 31, 2026 | N-PORT |
| VOXP · Advisors Series Trust | 0.00% | 9 NS | April 30, 2026 | N-PORT |
| MSLC · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 5,733 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 |
| VNQ · VANGUARD SPECIALIZED FUNDS | — | — | July 15, 2026 | Daily |
| VXUS · VANGUARD STAR FUNDS | — | — | July 15, 2026 | Daily |
| VWO · VANGUARD INTERNATIONAL EQUITY INDEX… | — | — | July 15, 2026 | Daily |
| VEU · VANGUARD INTERNATIONAL EQUITY INDEX… | — | — | July 15, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | — | — | July 15, 2026 | Daily |
| VIOO · VANGUARD ADMIRAL FUNDS | — | — | July 15, 2026 | Daily |
| VIOG · VANGUARD ADMIRAL FUNDS | — | — | July 30, 2026 | Daily |
| VIOV · VANGUARD ADMIRAL FUNDS | — | — | July 15, 2026 | Daily |
| VYMI · VANGUARD WHITEHALL FUNDS | — | — | July 15, 2026 | Daily |
| VONE · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| VONV · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |