NTGR NETGEAR, Inc. - Common Stock

NASDAQ · Communications · View on SEC EDGAR ↗
$22.00
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026

About NETGEAR, Inc. - Common Stock Company overview from Wikipedia

Netgear, Inc. is an American computer networking company based in San Jose, California, with offices in about 22 other countries. It produces networking hardware for consumers, businesses, and service providers. The company operates in three business segments: retail, commercial, and as a service provider.

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Netgear, Inc. (stylized as NETGEAR in all caps) is an American computer networking company based in San Jose, California, with offices in about 22 other countries. It produces networking hardware for consumers, businesses, and service providers. The company operates in three business segments: retail, commercial, and as a service provider.

Netgear's products cover a variety of widely used technologies such as wireless (Wi-Fi, LTE and 5G), Ethernet and powerline, with a focus on reliability and ease-of-use. The products include wired and wireless devices for broadband access and network connectivity, and are available in multiple configurations to address the needs of the end-users in each geographic region and sector in which the company's products are sold.

As of 2020, Netgear products are sold in approximately 24,000 retail locations around the globe, and through approximately 19,000 value-added resellers, as well as multiple major cable, mobile and wireline service providers around the world.

History

Netgear was founded by Patrick Lo in 1996.

On January 31, 2024, NETGEAR announced Patrick Lo's retirement from CEO and the Board of Directors, and CJ Prober became CEO.

The company was listed on the NASDAQ stock exchange in 2003.

Product range

Consumer Products

Netgear creates products that deliver networking technology through a range of products that deliver streaming and storage solutions. These products include Home WiFi, Mobile Wifi, and Wired Networking.

Products targeted at Consumers includes the Orbi and Nighthawk product lines, which deliver products including Mesh WiFi systems, cable modems and routers, WiFi range extenders, gaming routers, mobile WiFi, Mobile Hotspots, and Switches and Powerlines.

Business products

Netgear provides networking, storage, and security solutions to small to mid-sized businesses. Products that serve businesses include wireless and wired networking, mobile Wi-Fi, routers, software, and applications.

Products offered include Ethernet switches, wireless access points, routers, insight remote management, and audio-visual solutions.

Netgear's focus is primarily on the networking market, with products for home and business use, as well as pro-gaming, including wired and wireless technology.

Netgear also has a wide range of Wi-Fi range extenders

ProSAFE switches

Netgear markets network products for the business sector, most notably the ProSAFE switch range. As of May 2007, Netgear provides limited lifetime warranties for ProSAFE products for as long as the original buyer owns the product. Currently focusing on multimedia segment and business product.

Network appliances

Netgear also markets network appliances for the business sector, including managed switches and wired and wireless VPN firewalls. In 2016, Netgear released its Orbi mesh Wi-Fi system, with models for business as well as household use. The system uses a tri-band architecture, similar to the traditional dual-band, but with a dedicated 5 GHz connection between the router and a provided satellite. The addition of a second 5 GHz channel allows the network to distribute its traffic, easing congestion caused by the increasing number of 5 GHz compatible wireless devices present in many household networks. In September 2017, Netgear exited the VPN firewall product category. At CES 2021, the company unveiled the world's first WiFi 6E router that takes advantage of the 6 GHz frequency band in addition to the 5 GHz and 2.4 GHz bands. The 6 GHz frequency increases network capacity where there is high utilization of the 5 GHz and 2.4 GHz bands.

Network-attached storage

Netgear sells NAS devices to small businesses and consumers under the product name ReadyNAS. With this storage hardware line, Netgear vies with competitors like Buffalo, Zyxel and HP. Netgear entered the storage market in May 2007 when it acquired Infrant (originator of the ReadyNAS line). In March 2009, Netgear began to offer an integrated online backup solution called the ReadyNAS Vault. In June 2022 all ReadyNAS product pages was removed and replaced with a link to warranty and support information. Netgear has not yet (August 2022) confirmed that it has withdrawn from the network-connected storage market and discontinued the ReadyNAS product line.

Network surveillance cameras

Netgear created home surveillance camera brand Arlo, which was spun out into a separate company in August 2018. Arlo is now publicly traded on the New York Stock Exchange.

Netgear chipsets

Netgear uses Realtek chipsets, which can run in monitor mode and perform wireless injection. For this function, a special driver is needed.

Manufacturing

NETGEAR’s primary manufacturers are Cloud Network Technology (more commonly known as Hon Hai Precision or Foxconn Corporation), Delta Electronics Incorporated, Senao Networks, Inc., and Pegatron Corporation, all of which are headquartered in Taiwan. They distribute their manufacturing among a limited number of key suppliers and seek to avoid excessive concentration with any one single supplier.

Manufacturing occurs primarily in Vietnam, Thailand, Indonesia, and Taiwan.

To maintain quality standards, Netgear has established its own product quality organization, based in Singapore and Taiwan, that is responsible for auditing and inspecting process and product quality on the premises of ODMs and JDMs (Joint Development Manufacturers).

Netgear was unaffected by US President Donald Trump's 25% tariffs on Chinese imports. Because all manufacturing is outsourced, the company was able to shift its production lines from China to Vietnam, Thailand and Indonesia.

Product security concerns

In 2014, various Netgear products that were manufactured by SerComm were found to contain a backdoor that allowed unauthorized remote access to the affected devices. Netgear, along with other companies with products manufactured by SerComm that were affected by the aforementioned backdoor, issued firmware updates for some affected products. However, it was shortly found that the updates merely hid the backdoor but did not remove it.

A backdoor also existed on the DG834 series. Any person who can access the router using a web browser, can enable "debug" mode using [IP_ADDR]/setup.cgi?todo=debug and then connect via Telnet directly to the router's embedded Linux system as 'root', which gives unfettered access to the router's operating system via its Busybox functionality.

In January 2017, various Netgear products were found to be vulnerable to an exploit that allows third-party access to the router and the internal network and to turn the router into a botnet.

This vulnerability occurs when an attacker can access the internal network or when remote management is enabled on the router. Remote management is turned off by default; users can turn on remote management through advanced settings. Firmware fixes are currently available for the affected devices.

In 2020, a vulnerability was discovered that affected many Netgear home WiFi routers. The problem was in a web server built into the router's firmware. When launching the administration interface, the owner had to enter their password, which was not protected by security. The exploit was posted on GitHub. Netgear issued a security advisory and firmware update to address the issue.

Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗

Wikidata ↗

NTGR Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price
$22.00
Market Cap
$615M
P/E (TTM)
-34.9
EPS (TTM)
$-0.63
Revenue (TTM)
$700M
Div Yield
ROE
-3.5%
Debt/Equity
52W Range
$19 – $37

NTGR Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $700M
8-point trend, -33.9%
2018-12-31 2025-12-31
EPS $-0.63
8-point trend, -125.0%
2018-12-31 2025-12-31
Free Cash Flow $-19M
8-point trend, +83.6%
2018-12-31 2025-12-31
Margins -2.6%
8-point trend, +17.9%
2018-12-31 2025-12-31

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric
5Y trend
NTGR
Peer Median
P/E (TTM)
5-point trend, -311.9%
-34.9
24.0
P/S (TTM)
5-point trend, +33.8%
0.9
2.3
P/B
5-point trend, +12.2%
1.2
2.4
Price / FCF
5-point trend, +38.8%
-32.5

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
NTGR
Peer Median
Gross Margin
5-point trend, +21.5%
38.0%
43.1%
Operating Margin
5-point trend, -185.6%
-4.9%
Net Profit Margin
5-point trend, -160.5%
-2.6%
2.0%
ROA
5-point trend, -147.1%
-2.1%
1.4%
ROE
5-point trend, -149.9%
-3.5%
3.9%
ROIC
5-point trend, -201.7%
-7.3%

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
NTGR
Peer Median
Current Ratio
5-point trend, +3.9%
2.7
2.3
Quick Ratio
5-point trend, +19.0%
1.9

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
NTGR
Peer Median
Revenue YoY
5-point trend, -40.1%
3.8%
Revenue CAGR 3Y
5-point trend, -40.1%
-9.1%
Revenue CAGR 5Y
5-point trend, -40.1%
-11.0%

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
NTGR
Peer Median
EPS (Diluted)
5-point trend, -139.6%
$-0.63

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
NTGR
Peer Median

NTGR Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 9 analysts
  • Strong Buy 3 33.3%
  • Buy 5 55.6%
  • Hold 1 11.1%
  • Sell 0 0.0%
  • Strong Sell 0 0.0%

12-Month Price Target

3 analysts · 2026-08-18
Median target $35.00 +59.1%
Mean target $35.00 +59.1%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise
0.21%
Period EPS Actual EPS Est Surprise
June 30, 2026 $0.16 $0.01 0.15%
March 31, 2026 $0.06 $-0.04 0.10%
Dec. 31, 2025 $0.26 $0.05 0.21%
Sept. 30, 2025 $0.12 $-0.09 0.21%
June 30, 2025 $0.06 $-0.15 0.21%
March 31, 2025 $0.02 $-0.38 0.40%

Peer comparison (GICS sub-industry) Key metrics vs sector peers

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
NTGR $685M -38.9 3.8% -2.6% -3.5% 38.0%
CALX $3.55B 203.6 20.3% 1.8% 2.2% 56.8%
ADTN $695M -16.7 17.5% -4.2% -28.9% 38.3%
HLIT $1.10B -26.0 -26.2% -12.0% -10.4% 48.5%
ADTN $695M -16.7 17.5% -4.2% -28.9% 38.3%
CLFD $476M -59.3 19.6% -5.4% -3.1% 33.7%
RBBN -4.4 1.3%
LTRX $112M -9.9 -23.3% -9.2% -14.9% 42.1%
AVNW $304M 239.4 6.5% 0.31% 0.52% 32.1%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 17
Annual Income Statement data for NTGR
Metric Trend 2025202420232022202120202019201820172016
Revenue 8-point trend, -38.8% $700M $674M $741M $932M $1.17B $1.26B $999M · · $1.14B
Cost of Revenue 8-point trend, -43.7% $433M $478M $492M $682M $802M $883M $705M · · $770M
Gross Profit 8-point trend, -28.8% $266M $196M $249M $251M $366M $372M $294M · · $374M
R&D Expense 8-point trend, +20.9% $86M $81M $83M $88M $93M $89M $78M · · $71M
SG&A Expense 8-point trend, +46.2% $79M $63M $66M $56M $60M $61M $49M · · $54M
Operating Expenses 8-point trend, +11.9% $300M $184M $283M $333M $299M $297M $268M · · $268M
Operating Income 8-point trend, -132.4% $-34M $12M $-33M $-83M $67M $76M $26M · · $105M
Interest Income 3-point trend, -62.5% · · · · · $436.0K $3M · · $1M
Other Non-op 8-point trend, +10567.5% $17M $13M $14M $902.0K $-1M $-5M $3M · · $-166.0K
Pretax Income 8-point trend, -115.8% $-17M $25M $-19M $-82M $66M $71M $30M · · $106M
Income Tax 8-point trend, -96.8% $1M $13M $86M $-13M $16M $13M $4M · · $36M
Net Income 8-point trend, -123.6% $-18M $12M $-105M $-69M $49M $58M $26M · · $76M
EPS (Basic) 8-point trend, -127.2% $-0.63 $0.43 $-3.57 $-2.38 $1.63 $1.95 $0.83 · · $2.32
EPS (Diluted) 8-point trend, -128.0% $-0.63 $0.42 $-3.57 $-2.38 $1.59 $1.90 $0.81 · · $2.25
Shares (Basic) 8-point trend, -12.7% 28,607,000 28,905,000 29,355,000 29,007,000 30,241,000 29,897,000 30,936,000 · · 32,758,000
Shares (Diluted) 8-point trend, -15.2% 28,607,000 29,683,000 29,355,000 29,007,000 31,002,000 30,640,000 31,965,000 · · 33,728,000
EBITDA 8-point trend, -117.9% $-26M $19M $-26M $-73M $81M $94M $46M · · $146M
Balance Sheet 26
Annual Balance Sheet data for NTGR
Metric Trend 2025202420232022202120202019201820172016
Cash & Equivalents 8-point trend, -12.7% $210M $286M $177M $146M $264M $346M $190M · · $240M
Short-term Investments 8-point trend, -9.9% $113M $122M $107M $81M $8M $7M $5M · · $126M
Receivables 9-point trend, -54.7% $142M $156M $185M $277M $261M $277M $277M · $260M $314M
Inventory 9-point trend, -28.8% $176M $163M $249M $300M $316M $172M $235M · $161M $248M
Prepaid Expense 9-point trend, -9.6% $32M $31M $30M $30M $35M $31M $36M $35M · $35M
Current Assets 10-point trend, -30.1% $673M $758M $748M $834M $883M $893M $744M $857M $1.02B $963M
PP&E (Net) 8-point trend, +43.3% $26M $11M $8M $9M $13M $16M $18M · · $18M
PP&E (Gross) 8-point trend, -15.8% $104M $104M $97M $136M $134M $131M $116M · · $123M
Accum. Depreciation 8-point trend, -25.0% $78M $93M $89M $126M $121M $115M $98M · · $104M
Goodwill 8-point trend, -30.0% $45M $36M $36M $36M $81M $81M $81M · · $64M
Intangibles 8-point trend, +1.5% $38M $0 $0 $1M $2M $4M $10M · · $38M
Other Non-current Assets 9-point trend, -78.7% $17M $17M $17M $98M $76M $83M $74M · $52M $79M
Total Assets 10-point trend, -29.4% $836M $850M $847M $1.02B $1.08B $1.11B $956M $1.08B $1.22B $1.18B
Accounts Payable 9-point trend, -61.1% $44M $58M $47M $86M $74M $91M $81M · $91M $112M
Accrued Liabilities 10-point trend, -15.6% $144M $148M $168M $213M $225M $218M $190M $210M $182M $171M
Current Liabilities 10-point trend, -29.8% $250M $270M $264M $346M $341M $365M $298M $395M $445M $357M
Capital Leases 8-point trend, +21.3% $41M $20M $30M $34M $19M $26M $25M $34M · ·
Other Non-current Liabilities 10-point trend, +152.3% $40M $12M $5M $4M $3M $7M $8M $6M $9M $16M
Total Liabilities 10-point trend, -12.7% $338M $309M $312M $399M $382M $417M $347M $454M $499M $388M
Common Stock 8-point trend, -15.2% $28.0K $29.0K $30.0K $29.0K $29.0K $30.0K $30.0K · · $33.0K
Paid-in Capital 8-point trend, +83.0% $1.04B $998M $968M $946M $923M $883M $831M · · $566M
Retained Earnings 9-point trend, -335.8% $-539M $-457M $-432M $-325M $-227M $-193M $-223M · $116M $229M
AOCI 8-point trend, -89.9% $196.0K $241.0K $136.0K $-535.0K $149.0K $-35.0K $21.0K · · $2M
Stockholders' Equity 8-point trend, -37.5% $498M $541M $535M $621M $697M $689M $609M · · $797M
Liabilities + Equity 9-point trend, -29.4% $836M $850M $847M $1.02B $1.08B $1.11B $956M $1.08B · $1.18B
Shares Outstanding 8-point trend, -15.2% 27,943,198 28,500,118 29,615,723 28,907,770 29,285,772 30,399,206 29,925,008 · · 32,958,444
Cash Flow 14
Annual Cash Flow data for NTGR
Metric Trend 2025202420232022202120202019201820172016
D&A 8-point trend, -73.3% $8M $7M $7M $10M $14M $19M $19M · · $30M
Stock-based Comp 8-point trend, +73.4% $30M $23M $18M $18M $26M $31M $29M · · $17M
Deferred Tax 8-point trend, -117.5% $-152.0K $1M $82M $-22M $4M $-9M $-1M · · $869.0K
Amort. of Intangibles 8-point trend, -92.4% $1M $0 $300.0K $500.0K $2M $6M $7M · · $16M
Other Non-cash 8-point trend, -102.7% $-18M $122M $54M $49M $-98M $83M $-59M · · $-9M
Operating Cash Flow 8-point trend, -98.6% $2M $165M $57M $-14M $-5M $181M $14M · · $118M
CapEx 8-point trend, +100.5% $21M $9M $6M $6M $10M $10M $14M · · $10M
Investing Cash Flow 8-point trend, +53.6% $-23M $-26M $-27M $-80M $-10M $-17M $49M · · $-49M
Stock Repurchased 8-point trend, +32.4% $51M $33M $0 $24M $75M $24M $76M · · $38M
Net Stock Activity 8-point trend, -18.0% $-51M $-33M $0 $-24M $-75M $-24M $-76M · · $-43M
Financing Cash Flow 8-point trend, -409.3% $-56M $-29M $797.0K $-24M $-68M $-8M $-74M · · $-11M
Net Change in Cash 8-point trend, -230.8% $-77M $110M $30M $-117M $-83M $156M $-11M · · $59M
Taxes Paid 7-point trend, +55.2% $14M $8M $7M $9M $21M $8M $9M · · ·
Free Cash Flow 8-point trend, -118.1% $-19M $156M $51M $-19M $-14M $171M $-705.0K · · $104M
Profitability 8
Annual Profitability data for NTGR
Metric Trend 2025202420232022202120202019201820172016
Gross Margin 8-point trend, +22.6% 38.0% 29.1% 33.6% 26.9% 31.3% 29.6% 29.5% · · 31.0%
Operating Margin 8-point trend, -156.9% -4.9% 1.8% -4.5% -8.9% 5.7% 6.0% 2.6% · · 8.6%
Net Margin 8-point trend, -144.8% -2.6% 1.8% -14.1% -7.4% 4.2% 4.6% 2.6% · · 5.7%
Pretax Margin 8-point trend, -127.7% -2.4% 3.7% -2.6% -8.8% 5.6% 5.6% 3.0% · · 8.7%
EBITDA Margin 8-point trend, -134.0% -3.7% 2.8% -3.5% -7.8% 6.9% 7.5% 4.6% · · 11.0%
ROA 8-point trend, -131.4% -2.1% 1.5% -11.2% -6.6% 4.5% 5.7% 2.5% · · 6.8%
ROE 8-point trend, -134.8% -3.5% 2.3% -19.6% -11.1% 7.0% 8.7% 4.2% · · 10.1%
ROIC 8-point trend, -177.7% -7.3% 1.1% -34.0% -11.2% 7.2% 9.0% 3.8% · · 9.4%
Liquidity & Solvency 2
Annual Liquidity & Solvency data for NTGR
Metric Trend 2025202420232022202120202019201820172016
Current Ratio 8-point trend, -0.3% 2.7 2.8 2.8 2.4 2.6 2.4 2.5 · · 2.7
Quick Ratio 8-point trend, -2.5% 1.9 2.1 1.8 1.5 1.6 1.9 1.6 · · 1.9
Efficiency 3
Annual Efficiency data for NTGR
Metric Trend 2025202420232022202120202019201820172016
Asset Turnover 8-point trend, -30.2% 0.8 0.8 0.8 0.9 1.1 1.2 1.0 · · 1.2
Inventory Turnover 8-point trend, -35.7% 2.6 2.3 1.8 2.2 3.3 4.3 2.9 · · 4.0
Receivables Turnover 8-point trend, +6.7% 4.7 3.9 3.2 3.5 4.3 4.1 3.4 · · 4.4
Per Share 5
Annual Per Share data for NTGR
Metric Trend 2025202420232022202120202019201820172016
Book Value / Share 8-point trend, -26.3% $17.82 $18.98 $18.08 $21.48 $23.79 $22.68 $20.34 · · $24.18
Revenue / Share 8-point trend, -37.9% $24.46 $22.70 $25.24 $32.15 $37.68 $40.97 $31.25 · · $39.38
Cash Flow / Share 8-point trend, -98.4% $0.06 $5.55 $1.94 $-0.47 $-0.15 $5.91 $0.42 · · $3.41
Cash / Share 8-point trend, +3.0% $7.51 $10.05 $5.97 $5.07 $9.01 $11.40 $6.36 · · $7.30
EPS (TTM) 8-point trend, -128.0% $-0.63 $0.42 $-3.57 $-2.38 $1.59 $1.90 $0.81 · · $2.25
Growth Rates 7
Annual Growth Rates data for NTGR
Metric Trend 2025202420232022202120202019201820172016
Revenue YoY 5-point trend, +155.3% 3.8% -9.0% -20.5% -20.2% -6.9% · · · · ·
Revenue CAGR 3Y 3-point trend, +43.4% -9.1% -16.8% -16.1% · · · · · · ·
Revenue CAGR 5Y -11.0% · · · · · · · · ·
EPS YoY · · · · -16.3% · · · · ·
EPS CAGR 3Y · -35.8% · · · · · · · ·
Net Income YoY · · · · -15.3% · · · · ·
Net Income CAGR 3Y · -37.0% · · · · · · · ·
Valuation (TTM) 10
Annual Valuation (TTM) data for NTGR
Metric Trend 2025202420232022202120202019201820172016
Revenue TTM 8-point trend, -38.8% $700M $674M $741M $932M $1.17B $1.26B $999M · · $1.14B
Net Income TTM 8-point trend, -123.6% $-18M $12M $-105M $-69M $49M $58M $26M · · $76M
Market Cap 8-point trend, -38.3% $685M $794M $432M $524M $855M $1.24B $733M · · $1.11B
P/E 8-point trend, -359.8% -38.9 66.4 -4.1 -7.6 18.4 21.4 30.3 · · 15.0
P/S 8-point trend, +0.8% 1.0 1.2 0.6 0.6 0.7 1.0 0.7 · · 1.0
P/B 8-point trend, -1.3% 1.4 1.5 0.8 0.8 1.2 1.8 1.2 · · 1.4
P / Tangible Book 6-point trend, -19.0% 1.7 1.6 0.9 0.9 1.4 2.0 · · · ·
P / Cash Flow 8-point trend, +4323.6% 426.8 4.8 7.6 -38.1 -186.8 6.8 54.2 · · 9.6
P / FCF 8-point trend, -439.9% -36.2 5.1 8.5 -26.9 -59.2 7.2 -1040.4 · · 10.7
Earnings Yield 8-point trend, -138.5% -2.6% 1.5% -24.5% -13.1% 5.4% 4.7% 3.3% · · 6.7%

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement
2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $700M$674M$741M$932M$1.17B
Gross Margin % 38.0%29.1%33.6%26.9%31.3%
Operating Margin % -4.9%1.8%-4.5%-8.9%5.7%
Net Income $-18M$12M$-105M$-69M$49M
Diluted EPS $-0.63$0.42$-3.57$-2.38$1.59
Balance Sheet
2025-12-312024-12-312023-12-312022-12-312021-12-31
Current Ratio 2.72.82.82.42.6
Quick Ratio 1.92.11.81.51.6
Cash Flow
2025-12-312024-12-312023-12-312022-12-312021-12-31
Free Cash Flow $-19M$156M$51M$-19M$-14M

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Institutional owners (13F) 208 filers · $419.1M 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
38 (+3 vs prior Q) 20 (-15 vs prior Q) 57 (-6 vs prior Q) 64 (+8 vs prior Q) +2.9M

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
Windward Management LP $31,965,123 1,368,956 7.63% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $30,695,933 1,314,601 7.32% Shares
VANGUARD CAPITAL MANAGEMENT LLC $25,992,940 1,113,188 6.20% Shares
STATE STREET CORP $25,392,658 1,087,480 6.06% Shares
DIMENSIONAL FUND ADVISORS LP $23,493,392 1,006,141 5.61% Shares
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP $17,018,928 728,862 4.06% Shares
ROYCE & ASSOCIATES LP $16,064,263 687,977 3.83% Shares
GOLDMAN SACHS GROUP INC $15,643,449 669,955 3.73% Shares
Qube Research & Technologies Ltd $14,697,050 629,424 3.51% Shares
GEODE CAPITAL MANAGEMENT, LLC $14,293,037 611,994 3.41% Shares
First Eagle Investment Management, LLC $14,272,571 611,245 3.41% Shares
JACOBS LEVY EQUITY MANAGEMENT, INC $13,547,763 580,204 3.23% Shares
GARNET EQUITY CAPITAL HOLDINGS, INC. $12,064,968 516,701 2.88% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $11,012,607 471,632 2.63% Shares
Tenzing Global Management, LLC $7,005,000 300,000 1.67% Shares
BRIDGEWAY CAPITAL MANAGEMENT, LLC $6,039,291 258,642 1.44% Shares
Allianz Asset Management GmbH $5,695,345 243,912 1.36% Shares
BlackRock, Inc. $5,605,121 240,048 1.34% Shares
Robeco Institutional Asset Management B.V. $5,476,625 234,545 1.31% Shares
RENAISSANCE TECHNOLOGIES LLC $5,289,709 226,540 1.26% Shares
OP Asset Management Ltd $5,037,973 215,759 1.20% Shares
WELLINGTON MANAGEMENT GROUP LLP $4,456,301 190,848 1.06% Shares
VANGUARD FIDUCIARY TRUST CO $4,143,364 177,446 0.99% Shares
Hillsdale Investment Management Inc. $4,022,154 172,255 0.96% Shares
Clearline Capital LP $3,917,943 167,792 0.93% Shares
Manatuck Hill Partners, LLC $3,736,000 160,000 0.89% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $3,710,315 158,900 0.89% Call option
Empowered Funds, LLC $3,636,576 155,742 0.87% Shares
D. E. Shaw & Co., Inc. $3,419,047 146,426 0.82% Shares
BANK OF AMERICA CORP /DE/ $3,003,487 128,629 0.72% Shares
Windward Management LP $2,925,755 125,300 0.70% Call option
ANCHOR CAPITAL ADVISORS LLC $2,803,868 120,080 0.67% Shares
CenterBook Partners LP $2,747,968 117,686 0.66% Shares
CITADEL ADVISORS LLC $2,538,659 108,722 0.61% Shares
Y-Intercept (Hong Kong) Ltd $2,482,245 106,306 0.59% Shares
TWO SIGMA INVESTMENTS, LP $2,256,357 96,632 0.54% Shares
AMERIPRISE FINANCIAL INC $2,077,310 88,964 0.50% Shares
BARCLAYS PLC $2,056,550 88,075 0.49% Shares
UBS Group AG $1,992,245 85,321 0.48% Shares
ExodusPoint Capital Management, LP $1,929,574 82,637 0.46% Shares
AMERICAN CENTURY COMPANIES INC $1,893,989 81,113 0.45% Shares
Bank of New York Mellon Corp $1,891,443 81,004 0.45% Shares
MILLENNIUM MANAGEMENT LLC $1,842,408 78,904 0.44% Shares
HSBC HOLDINGS PLC $1,706,572 73,718 0.41% Shares
Trexquant Investment LP $1,627,705 69,709 0.39% Shares
LOS ANGELES CAPITAL MANAGEMENT LLC $1,616,872 69,245 0.39% Shares
WOLVERINE TRADING, LLC $1,506,656 47,800 0.36% Call option
Hara Capital LLC $1,455,639 62,340 0.35% Shares
Polymer Capital Management (US) LLC $1,442,400 61,773 0.34% Shares
VICTORY CAPITAL MANAGEMENT INC $1,324,319 56,716 0.32% Shares
Pinnacle Holdings, LLC $1,309,561 56,084 0.31% Shares
Connor, Clark & Lunn Investment Management Ltd. $1,306,269 55,943 0.31% Shares
Divisadero Street Capital Management, LP $1,215,718 52,065 0.29% Shares
Nebula Research & Development LLC $1,204,108 41,421 0.29% Shares
Swiss National Bank $1,186,180 50,800 0.28% Shares
FMR LLC $1,171,119 50,155 0.28% Shares
PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO $1,052,034 45,055 0.25% Shares
Diametric Capital, LP $997,208 42,707 0.24% Shares
CAXTON ASSOCIATES LP $990,723 35,548 0.24% Shares
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. $918,776 39,348 0.22% Shares
RHUMBLINE ADVISERS $877,996 37,602 0.21% Shares
CITADEL ADVISORS LLC $810,245 34,700 0.19% Put option
Sanctuary Advisors, LLC $788,856 33,784 0.19% Shares
ENVESTNET ASSET MANAGEMENT INC $772,255 33,073 0.18% Shares
Atria Investments, Inc $754,555 32,315 0.18% Shares
Concentric Capital Strategies, LP $750,422 32,138 0.18% Shares
LPL Financial LLC $709,933 30,404 0.17% Shares
VANGUARD ASSET MANAGEMENT, Ltd $687,331 29,436 0.16% Shares
GREAT LAKES ADVISORS, LLC $673,834 28,858 0.16% Shares
NATIXIS $665,475 28,500 0.16% Shares
DEUTSCHE BANK AG\ $648,570 27,776 0.15% Shares
ALLIANCEBERNSTEIN L.P. $637,422 29,186 0.15% Shares
LEUTHOLD GROUP, LLC $620,246 26,563 0.15% Shares
TWO SIGMA ADVISERS, LP $598,532 24,400 0.14% Shares
Counterpoint Mutual Funds LLC $598,274 25,622 0.14% Shares
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM $594,135 27,204 0.14% Shares
Skopos Labs, Inc. $574,349 26,298 0.14% Shares
JPMORGAN CHASE & CO $541,328 23,577 0.13% Shares
Zurcher Kantonalbank (Zurich Cantonalbank) $528,784 22,646 0.13% Shares
BNP PARIBAS FINANCIAL MARKETS $509,917 21,838 0.12% Shares
State of Wyoming $501,161 21,463 0.12% Shares
Vanguard Global Advisers, LLC $481,524 20,622 0.11% Shares
JANE STREET GROUP, LLC $481,010 20,600 0.11% Call option
Campbell & CO Investment Adviser LLC $469,522 20,108 0.11% Shares
AlphaQuest LLC $425,620 17,351 0.10% Shares
CAXTON ASSOCIATES LLP $421,421 18,048 0.10% Shares
AXQ CAPITAL, LP $388,497 16,638 0.09% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $387,026 16,575 0.09% Shares
NISA INVESTMENT ADVISORS, LLC $376,519 16,125 0.09% Shares
MORGAN STANLEY $371,358 15,904 0.09% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $371,265 15,900 0.09% Put option
JANE STREET GROUP, LLC $363,886 15,584 0.09% Shares
Legal & General Group Plc $358,866 15,369 0.09% Shares
Assenagon Asset Management S.A. $355,854 15,240 0.08% Shares
MetLife Investment Management, LLC $353,566 15,142 0.08% Shares
PRELUDE CAPITAL MANAGEMENT, LLC $350,437 15,008 0.08% Shares
WOLVERINE TRADING, LLC $338,178 10,729 0.08% Shares
Engineers Gate Manager LP $336,077 14,393 0.08% Shares
CDC Financial, Inc. $326,900 14,000 0.08% Shares
CITADEL ADVISORS LLC $289,540 12,400 0.07% Call option

Company insiders 49 insiders · 28 officers · 20 directors

Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Charles J. Prober Chief Executive Officer July 31, 2026 F 426,294 0 0 $0
Murray Bryan Chief Financial Officer July 31, 2026 F 223,206 0 0 $0
Christine Marie Gorjanc Chief Financial Officer June 30, 2018 F 92,629 0 0 $0
Jonathan Mather Chief Financial Officer Oct. 27, 2006 M 0 0 0 $0
Pramod Badjate President & GM, NFB July 31, 2026 S 154,073 0 2 $-71,630
David John Henry President and GM, CHP July 31, 2024 F 120,527 0 0 $0
Raymond P Robidoux President March 2, 2004 M 0 0 0 $0
Jonathan Russell Oakes SVP and GM, Home Networking June 30, 2026 F 74,845 0 0 $0
Heidi Cormack Chief Marketing Officer May 30, 2024 S 83,611 0 0 $0
Martin Westhead CTO, Software May 6, 2024 S 66,608 0 0 $0
Michael A Werdann Chief Revenue Officer May 6, 2024 S 79,668 0 0 $0
Tamesa Rogers Chief People Officer April 30, 2024 F 73,374 0 0 $0
Andrew Wonki Kim Chief Legal Officer April 30, 2024 F 71,628 0 0 $0
Michael F Falcon Chief Operations Officer April 30, 2024 F 134,016 0 0 $0
Vikram Mehta SVP, SMB Feb. 5, 2024 S 51,720 0 0 $0
Patrick Cs Lo Chief Exective Officer Jan. 31, 2024 F 162,896 0 0 $0
Mark G Merrill CTO Sept. 29, 2023 F 55,980 0 0 $0
John Mchugh SVP & GM, CBU Dec. 20, 2019 F 34,002 0 0 $0
Patrick J Collins III SVP, Arlo Smart Home Devices June 30, 2018 F 23,682 0 0 $0
Jeff Capone Chief Technology Officer June 3, 2014 A 8,750 0 0 $0
Michael Clegg SVP and GM, SPBU June 3, 2014 A 20,465 0 0 $0
David Soares SVP and GM, RBU Feb. 18, 2014 M 18,373 0 0 $0
Charles T Olson SVP, Engineering April 26, 2013 F 7,742 0 0 $0
Shane Buckley SVP and GM, CBU April 26, 2012 M 6,176 0 0 $0
Albert Liu VP, Legal and Corp. Dev. May 23, 2008 M 5,233 0 0 $0
Deborah Ann Williams SVP, Marketing and CMO Sept. 5, 2007 M 3,212 0 0 $0
Ian Mclean VP, Asia Pacific Sales Sept. 28, 2005 M 0 0 0 $0
Christopher C Marshall Vice President of Finance Dec. 18, 2003 A 0 0 $0
Laura Orvidas Director June 3, 2026 A 25,690 0 0 $0
Sarah Butterfass Director June 3, 2026 A 46,732 0 1 $-42,029
Shravan Goli Director June 3, 2026 A 33,636 0 1 $-41,129
Laura Durr Director June 3, 2026 A 49,838 0 2 $-78,640
Janice M Roberts Director June 3, 2026 A 75,830 0 0 $0
Thomas H Waechter Director Dec. 18, 2024 S 61,135 0 0 $0
Bradley Maiorino Director May 30, 2024 A 62,658 0 0 $0
Barbara Vaughn Scherer Director June 1, 2023 A 56,350 0 0 $0
Jef Graham Director May 27, 2021 A 18,063 0 0 $0
Gregory J Rossman Director May 27, 2021 A 33,335 0 0 $0
Maureen M. Mericle Director Dec. 9, 2019 A 3,846 0 0 $0
Grady Summers Director May 31, 2018 A 20,385 0 0 $0
Julie Ann Shimer Director May 31, 2018 A 34,928 0 0 $0
Ralph E Faison Director May 31, 2018 A 36,928 0 0 $0
Miller Joycelyn Carter Director May 31, 2018 A 14,717 0 0 $0
Timothy A Godwin Director April 28, 2016 S 44,965 0 0 $0
Linwood A Lacy JR Director April 30, 2015 M 242,300 0 0 $0
George Gc Parker Director May 6, 2011 M 6,400 0 0 $0
Stephen D Royer Director Nov. 16, 2004 S 0 0 0 $0
Douglas Andrew Murray Aug. 4, 2026 A 6,107 0 0 $0
Richard A Fabiano Feb. 27, 2004 M 0 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 48 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
QQQS · Invesco Exchange-Traded Fund Trust … 0.45% 4,308 SH Aug. 8, 2026 Daily
SNSR · Global X Funds 0.28% 27,214 NS May 31, 2026 N-PORT
ESSC · Strategy Shares 0.26% 2,670 NS April 30, 2026 N-PORT
IWC · iShares Trust 0.15% 89,840 SH Aug. 8, 2026 Daily
JPSE · J.P. Morgan Exchange-Traded Fund Tr… 0.15% 33,967 NS April 30, 2026 N-PORT
SMLF · iShares Trust 0.06% 107,418 SH Aug. 8, 2026 Daily
PRFZ · Invesco Exchange-Traded Fund Trust 0.06% 67,167 SH Aug. 8, 2026 Daily
FNDA · SCHWAB STRATEGIC TRUST 0.05% 183,345 NS May 31, 2026 N-PORT
GINN · Goldman Sachs ETF Trust 0.05% 4,316 NS May 31, 2026 N-PORT
AVSC · AMERICAN CENTURY ETF TRUST 0.05% 56,161 NS May 31, 2026 N-PORT
ESML · iShares Trust 0.05% 54,529 SH Aug. 8, 2026 Daily
IWN · iShares Trust 0.04% 261,078 SH Aug. 8, 2026 Daily
VTWV · VANGUARD SCOTTSDALE FUNDS 0.04% 23,125 SH Aug. 8, 2026 Daily
GSSC · Goldman Sachs ETF Trust 0.03% 13,115 NS May 31, 2026 N-PORT
DFSV · Dimensional ETF Trust 0.03% 87,744 NS April 30, 2026 N-PORT
OMFS · Invesco Exchange-Traded Self-Indexe… 0.02% 2,675 SH Aug. 8, 2026 Daily
RSSL · Global X Funds 0.02% 11,852 NS April 30, 2026 N-PORT
IWM · iShares Trust 0.02% 674,723 SH Aug. 8, 2026 Daily
VTWO · VANGUARD SCOTTSDALE FUNDS 0.02% 152,727 SH Aug. 8, 2026 Daily
ITWO · ProShares Trust 0.02% 1,288 NS May 31, 2026 N-PORT
PKW · Invesco Exchange-Traded Fund Trust 0.02% 12,931 SH Aug. 8, 2026 Daily
DFAS · Dimensional ETF Trust 0.02% 92,651 NS April 30, 2026 N-PORT
SCHA · SCHWAB STRATEGIC TRUST 0.02% 138,748 NS May 31, 2026 N-PORT
FTEC · FIDELITY COVINGTON TRUST 0.01% 87,170 NS April 30, 2026 N-PORT
UWM · ProShares Trust 0.01% 1,007 NS May 31, 2026 N-PORT
VXF · VANGUARD INDEX FUNDS 0.01% 309,004 SH Aug. 8, 2026 Daily
VGT · VANGUARD WORLD FUND 0.01% 657,832 SH Aug. 8, 2026 Daily
WSML · iShares Trust 0.01% 2,193 SH Aug. 8, 2026 Daily
URTY · ProShares Trust 0.01% 1,016 NS May 31, 2026 N-PORT
DXUV · Dimensional ETF Trust 0.01% 1,004 NS April 30, 2026 N-PORT
DFAC · Dimensional ETF Trust 0.00% 74,932 NS April 30, 2026 N-PORT
DFSU · Dimensional ETF Trust 0.00% 3,478 NS April 30, 2026 N-PORT
AVUS · AMERICAN CENTURY ETF TRUST 0.00% 20,369 NS May 31, 2026 N-PORT
FNDB · SCHWAB STRATEGIC TRUST 0.00% 1,821 NS May 31, 2026 N-PORT
MSSM · MORGAN STANLEY PATHWAY FUNDS 0.00% 971 NS May 31, 2026 N-PORT
HDG · ProShares Trust 0.00% 26 NS May 31, 2026 N-PORT
DFAT · Dimensional ETF Trust 0.00% 16,682 NS April 30, 2026 N-PORT
AVSU · AMERICAN CENTURY ETF TRUST 0.00% 507 NS May 31, 2026 N-PORT
IGM · iShares Trust 0.00% 11,369 SH Aug. 8, 2026 Daily
DCOR · Dimensional ETF Trust 0.00% 2,715 NS April 30, 2026 N-PORT
DFAU · Dimensional ETF Trust 0.00% 6,330 NS April 30, 2026 N-PORT
ITOT · iShares Trust 0.00% 44,699 SH Aug. 8, 2026 Daily
IWV · iShares Trust 0.00% 8,908 SH Aug. 8, 2026 Daily
DFUS · Dimensional ETF Trust 0.00% 8,468 NS April 30, 2026 N-PORT
SCHB · SCHWAB STRATEGIC TRUST 0.00% 16,629 NS May 31, 2026 N-PORT
DFUV · Dimensional ETF Trust 0.00% 2,872 NS April 30, 2026 N-PORT
VTI · VANGUARD INDEX FUNDS 0.00% 779,187 SH Aug. 8, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS 0.00% 2,068 SH Aug. 8, 2026 Daily