PGNY Progyny, Inc. - Common Stock
$25.59
Price · Aug 24, 2026
Fundamentals as of Aug 7, 2026
52W Range
$16–$33
56% of range
Analyst Rating
BUY
17 analysts
Price Target
$34
+33% upside
P/E (TTM)
37.0
ROE
11.3%
Net Profit Margin
4.5%
PGNY Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$25.59
Market Cap
$2.00B
P/E (TTM)
37.0
EPS (TTM)
$0.65
Revenue (TTM)
$1.29B
Div Yield
—
ROE
11.3%
Debt/Equity
—
52W Range
$16 – $33
PGNY 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
$1.29B
2017-12-31
→
2025-12-31
EPS
$0.65
2017-12-31
→
2025-12-31
Free Cash Flow
$192M
2019-12-31
→
2025-12-31
Margins
4.5%
2019-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
PGNY
Peer Median
P/E (TTM)
37.0
35.0
P/S (TTM)
1.6
0.9
P/B
3.9
3.5
Price / FCF
10.4
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
PGNY
Peer Median
Gross Margin
23.6%
12.9%
Operating Margin
6.6%
—
Net Profit Margin
4.5%
0.89%
ROA
8.7%
3.5%
ROE
11.3%
10.1%
ROIC
10.1%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
PGNY
Peer Median
Current Ratio
2.7
1.6
Quick Ratio
1.6
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
PGNY
Peer Median
Revenue YoY
10.4%
—
Revenue CAGR 3Y
17.9%
—
Revenue CAGR 5Y
30.2%
—
EPS YoY
14.0%
—
Net Income YoY
7.7%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
PGNY
Peer Median
PGNY Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
17 analysts
- Strong Buy 6 35.3%
- Buy 8 47.1%
- Hold 3 17.6%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
12 analysts · 2026-08-20
Median
$35.00
← Below all targets
$25.59
Low
$27.00
High
$40.00
Median target
$35.00
+36.8%
Mean target
$34.00
+32.9%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.00%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.34 | $0.34 | -0.00% |
| March 31, 2026 | $0.29 | $0.30 | -0.01% |
| Dec. 31, 2025 | $0.14 | $0.15 | -0.01% |
| Sept. 30, 2025 | $0.15 | $0.13 | 0.02% |
| June 30, 2025 | $0.19 | $0.17 | 0.02% |
| March 31, 2025 | $0.17 | $0.19 | -0.02% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| PGNY | $2.14B | 39.5 | 10.4% | 4.5% | 11.3% | 23.6% |
| CNC | $20.24B | -3.0 | 19.4% | -3.4% | -28.8% | 7.3% |
| MOH | $8.85B | 19.5 | 11.8% | 1.0% | 10.9% | — |
| HQY | $7.12B | 34.0 | 9.5% | 16.4% | 10.1% | 69.5% |
| ALHC | $4.03B | — | 46.1% | -0.02% | -0.52% | — |
| CLOV | — | -5.1 | 40.3% | -4.5% | -26.2% | — |
| UNH | $299.08B | 25.0 | 11.8% | 2.7% | 12.0% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.29B | $1.17B | $1.09B | $787M | $501M | $345M | $230M | $105M | $49M | |
| Cost of Revenue | $984M | $914M | $850M | $620M | $388M | $275M | $184M | $86M | $41M | |
| Gross Profit | $304M | $253M | $239M | $167M | $112M | $70M | $46M | $19M | $7M | |
| R&D Expense | $10M | · | · | · | · | · | · | · | · | |
| SG&A Expense | $147M | $122M | $117M | $98M | $60M | $47M | $24M | $16M | $14M | |
| Operating Expenses | $219M | $186M | $177M | $144M | $80M | $62M | $36M | $23M | $18M | |
| Operating Income | $85M | $67M | $62M | $23M | $32M | $8M | $10M | $-3M | $-11M | |
| Other Non-op | $10M | $16M | $9M | $1M | $-366.0K | $210.0K | $-18M | $-3M | $-1M | |
| Pretax Income | $95M | $83M | $71M | $24M | $32M | $9M | $-9M | $-7M | $-12M | |
| Income Tax | $37M | $29M | $9M | $-6M | $-33M | $-38M | $12.0K | $-2M | $-3.0K | |
| Net Income | $59M | $54M | $62M | $30M | $66M | $46M | $-9M | $661.0K | $-12M | |
| EPS (Basic) | $0.68 | $0.59 | $0.65 | $0.33 | $0.74 | $0.54 | $-0.41 | $0.04 | $-2.37 | |
| EPS (Diluted) | $0.65 | $0.57 | $0.62 | $0.30 | $0.66 | $0.47 | $-0.41 | $0.04 | $-2.37 | |
| Shares (Basic) | 85,651,721 | 91,481,995 | 95,021,175 | 92,195,068 | 89,105,562 | 85,722,670 | 20,735,202 | 5,539,739 | 5,677,860 | |
| Shares (Diluted) | 89,861,843 | 95,448,357 | 100,672,399 | 99,957,173 | 100,358,047 | 99,055,526 | 20,735,202 | 5,539,739 | 5,677,860 | |
| EBITDA | $90M | $71M | $64M | $25M | $34M | $10M | $12M | · | · |
Balance Sheet 25
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $112M | $162M | $97M | $120M | $91M | $70M | $80M | $127.0K | · | |
| Short-term Investments | · | · | · | · | · | $39M | · | · | · | |
| Receivables | $220M | $235M | $242M | $240M | $135M | $76M | $47M | $23M | · | |
| Prepaid Expense | $21M | $9M | $27M | $4M | $5M | $5M | $5M | $885.0K | · | |
| Current Assets | $552M | $473M | $640M | $434M | $259M | $190M | $132M | $25M | · | |
| PP&E (Net) | $30M | $12M | $10M | $8M | $5M | $3M | $3M | $776.0K | · | |
| PP&E (Gross) | $42M | $21M | $16M | $11M | $8M | $5M | $4M | $1M | · | |
| Accum. Depreciation | $12M | $8M | $5M | $3M | $3M | $2M | $1M | $483.0K | · | |
| Goodwill | $20M | $16M | $12M | $12M | $12M | $12M | $12M | $12M | · | |
| Intangibles | $6M | $1M | $0 | $99.0K | $599.0K | $1M | $2M | $4M | · | |
| Other Non-current Assets | $17M | $3M | $3M | $4M | $3M | $573.0K | $652.0K | $272.0K | · | |
| Total Assets | $742M | $607M | $757M | $543M | $358M | $254M | $150M | $41M | · | |
| Accounts Payable | $124M | $95M | $125M | $109M | $61M | $44M | $19M | $16M | · | |
| Short-term Debt | · | · | · | · | · | · | · | $253.0K | · | |
| Current Liabilities | $202M | $169M | $186M | $160M | $99M | $78M | $36M | $30M | · | |
| Capital Leases | $24M | $16M | $17M | $6M | $7M | $8M | · | · | · | |
| Other Non-current Liabilities | · | · | · | · | · | $876.0K | · | · | · | |
| Total Liabilities | $226M | $185M | $203M | $166M | $106M | $87M | $36M | $30M | · | |
| Common Stock | $9.0K | $9.0K | $9.0K | $9.0K | $9.0K | $9.0K | $8.0K | $1.0K | · | |
| Retained Earnings | $203M | $144M | $90M | $28M | $-2M | $-68M | $-113M | $-105M | · | |
| Treasury Stock | $388M | $304M | $1M | $1M | $1M | $1M | $1M | $884.0K | · | |
| AOCI | $498.0K | $39.0K | $3M | $501.0K | $-93.0K | $1.0K | · | · | · | |
| Stockholders' Equity | $516M | $422M | $553M | $377M | $252M | $167M | $114M | $-95M | $-98M | |
| Liabilities + Equity | $742M | $607M | $757M | $543M | $358M | $254M | $150M | $41M | · | |
| Shares Outstanding | 83,365,696 | 85,310,698 | 96,348,522 | 93,301,156 | 91,088,781 | 87,054,329 | 84,188,202 | 5,155,407 | 5,690,083 |
Cash Flow 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $5M | $3M | $2M | $2M | $1M | $2M | $2M | $2M | $2M | |
| Stock-based Comp | $132M | $128M | $123M | $101M | $34M | $13M | $5M | $3M | $2M | |
| Deferred Tax | $-8M | $-10M | $4M | $-7M | $-33M | $-38M | · | · | · | |
| Amort. of Intangibles | $800.0K | $100.0K | $100.0K | $500.0K | $600.0K | $1M | $2M | $2M | $2M | |
| Other Non-cash | $23M | $4M | $-2M | $-46M | $-41M | $13M | $-159.0K | · | · | |
| Operating Cash Flow | $210M | $179M | $189M | $80M | $26M | $36M | $-2M | $2M | $-9M | |
| CapEx | $18M | $5M | $4M | $3M | $2M | $1M | $3M | $579.0K | $612.0K | |
| Investing Cash Flow | $-159M | $196M | $-201M | $-44M | $9M | $-40M | $-3M | $2M | $-612.0K | |
| Stock Repurchased | $82M | $300M | $0 | $0 | · | · | $185.0K | $1M | · | |
| Net Stock Activity | $-82M | $-300M | · | · | · | · | $-185.0K | · | · | |
| Financing Cash Flow | $-99M | $-310M | $-11M | $-8M | $-14M | $-6M | $85M | $-9M | $12M | |
| Net Change in Cash | $-48M | $65M | $-23M | $29M | $21M | $-10M | · | · | · | |
| Taxes Paid | $55M | $40M | $6M | $133.0K | $97.0K | $0 | · | · | · | |
| Free Cash Flow | $192M | $174M | $185M | $77M | $24M | $35M | $-4M | · | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 23.6% | 21.7% | 21.9% | 21.3% | 22.4% | 20.3% | 19.8% | · | · | |
| Operating Margin | 6.6% | 5.8% | 5.7% | 3.0% | 6.5% | 2.4% | 4.2% | · | · | |
| Net Margin | 4.5% | 4.7% | 5.7% | 3.9% | 13.1% | 13.5% | -3.7% | · | · | |
| Pretax Margin | 7.4% | 7.1% | 6.5% | 3.1% | 6.5% | 2.5% | -3.7% | · | · | |
| EBITDA Margin | 7.0% | 6.0% | 5.9% | 3.2% | 6.7% | 3.0% | 5.1% | · | · | |
| ROA | 8.7% | 8.0% | 9.6% | 6.7% | 21.5% | 23.0% | -8.9% | · | · | |
| ROE | 11.3% | 12.7% | 11.6% | 8.4% | 27.6% | 31.7% | -74.5% | · | · | |
| ROIC | 10.1% | 10.4% | 9.9% | 7.7% | 26.0% | 26.8% | 8.5% | · | · |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.7 | 2.8 | 3.4 | 2.7 | 2.6 | 2.4 | 3.7 | · | · | |
| Quick Ratio | 1.6 | 2.4 | 1.8 | 2.3 | 2.3 | 2.4 | 3.5 | · | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 1.9 | 1.7 | 1.7 | 1.7 | 1.6 | 1.7 | 2.4 | · | · | |
| Receivables Turnover | 5.7 | 4.9 | 4.5 | 4.2 | 4.8 | 5.6 | 6.5 | · | · |
Growth Rates 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 10.4% | 7.2% | 38.3% | 57.2% | 45.2% | · | · | · | · | |
| Revenue CAGR 3Y | 17.9% | 32.6% | 46.7% | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 30.2% | · | · | · | · | · | · | · | · | |
| EPS YoY | 14.0% | -8.1% | 106.7% | -54.5% | 40.4% | · | · | · | · | |
| EPS CAGR 3Y | 29.4% | -4.8% | 9.7% | · | · | · | · | · | · | |
| EPS CAGR 5Y | 6.7% | · | · | · | · | · | · | · | · | |
| Net Income YoY | 7.7% | -12.4% | 104.4% | -53.8% | 41.6% | · | · | · | · | |
| Net Income CAGR 3Y | 24.4% | -6.2% | 10.1% | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 4.7% | · | · | · | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.29B | $1.17B | $1.09B | $787M | $501M | $345M | $230M | · | · | |
| Net Income TTM | $59M | $54M | $62M | $30M | $66M | $46M | $-9M | · | · | |
| Market Cap | $2.14B | $1.47B | $3.58B | $2.91B | $4.59B | $3.69B | $276M | · | · | |
| P/E | 39.5 | 30.3 | 60.0 | 103.8 | 76.3 | 90.2 | -67.0 | · | · | |
| P/S | 1.7 | 1.3 | 3.3 | 3.7 | 9.2 | 10.7 | 1.2 | · | · | |
| P/B | 4.1 | 3.5 | 6.5 | 7.7 | 18.2 | 22.1 | 2.4 | · | · | |
| P / Tangible Book | 4.4 | 3.6 | 6.6 | 8.0 | 19.2 | 24.0 | · | · | · | |
| P / Cash Flow | 10.2 | 8.2 | 19.0 | 36.2 | 176.1 | 101.9 | -179.8 | · | · | |
| P / FCF | 11.2 | 8.5 | 19.3 | 37.7 | 191.8 | 104.9 | -61.4 | · | · | |
| Earnings Yield | 2.5% | 3.3% | 1.7% | 0.96% | 1.3% | 1.1% | -1.5% | · | · |
Income Statement 16
| Metric | Trend | Q2 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $351M | $329M | $318M | $313M | $333M | $324M | $298M | $287M | $304M | $278M | $270M | $281M | $279M | $258M | $214M | $205M | |
| Cost of Revenue | $261M | $245M | $242M | $241M | $254M | $248M | $235M | $227M | $236M | $216M | $213M | $218M | $219M | $200M | $170M | $159M | |
| Gross Profit | $89M | $83M | $77M | $73M | $79M | $76M | $63M | $59M | $68M | $62M | $57M | $63M | $61M | $59M | $44M | $46M | |
| R&D Expense | $3M | $3M | $3M | $3M | $2M | $2M | · | · | · | · | · | · | · | · | · | · | |
| SG&A Expense | $31M | $31M | $44M | $33M | $36M | $34M | $32M | $30M | $31M | $28M | $28M | $30M | $30M | $29M | $28M | $24M | |
| Operating Expenses | $49M | $48M | $62M | $51M | $55M | $52M | $48M | $47M | $48M | $44M | $43M | $44M | $45M | $44M | $41M | $35M | |
| Operating Income | $40M | $35M | $15M | $22M | $24M | $24M | $16M | $12M | $21M | $19M | $14M | $18M | $15M | $15M | $3M | $11M | |
| Other Non-op | $1M | $2M | $3M | $2M | $3M | $2M | $2M | $6M | $4M | $4M | $4M | $3M | $2M | $1M | $1M | $82.0K | |
| Pretax Income | $41M | $37M | $18M | $24M | $27M | $27M | $18M | $18M | $25M | $23M | $16M | $21M | $17M | $16M | $4M | $12M | |
| Income Tax | $13M | $13M | $5M | $10M | $10M | $11M | $7M | $8M | $9M | $6M | $3M | $5M | $2M | $-1M | $733.0K | $-2M | |
| Net Income | $28M | $24M | $12M | $14M | $17M | $15M | $11M | $10M | $16M | $17M | $13M | $16M | $15M | $18M | $3M | $13M | |
| EPS (Basic) | $0.36 | $0.30 | $0.15 | $0.16 | $0.20 | $0.18 | $0.12 | $0.12 | $0.18 | $0.18 | $0.13 | $0.17 | $0.16 | $0.19 | $0.04 | $0.14 | |
| EPS (Diluted) | $0.34 | $0.29 | $0.14 | $0.15 | $0.19 | $0.17 | $0.12 | $0.11 | $0.17 | $0.17 | $0.13 | $0.16 | $0.15 | $0.18 | $0.03 | $0.13 | |
| Shares (Basic) | 78,165,235 | 80,920,993 | 85,232,403 | 86,017,342 | 85,766,254 | 85,499,153 | 85,809,325 | 90,067,675 | 93,868,409 | 96,484,657 | -189,052,599 | 95,502,250 | 94,738,651 | 93,832,873 | -183,496,300 | 92,316,022 | |
| Shares (Diluted) | 82,141,428 | 84,755,262 | 89,464,571 | 90,226,278 | 89,638,677 | 89,307,934 | 88,914,595 | 93,821,812 | 97,839,576 | 101,052,933 | -200,989,104 | 100,879,576 | 100,615,919 | 100,166,008 | -199,471,132 | 99,819,801 | |
| EBITDA | $40M | $37M | · | $22M | $24M | $25M | · | $12M | $21M | $19M | · | $18M | $15M | $16M | · | $11M |
Balance Sheet 22
| Metric | Trend | Q2 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $153M | $132M | $112M | $134M | $133M | $109M | $162M | $91M | $95M | $115M | $97M | $158M | $171M | $155M | · | $73M | |
| Receivables | $257M | $264M | $220M | $253M | $272M | $300M | $235M | $281M | $294M | $297M | · | $269M | $265M | $313M | · | $258M | |
| Prepaid Expense | $19M | $13M | $21M | $24M | $17M | $12M | $9M | $30M | $26M | $12M | · | $7M | $14M | $6M | · | $3M | |
| Current Assets | $513M | $502M | $552M | $622M | $594M | $568M | $473M | $546M | $582M | $682M | · | $611M | $561M | $527M | · | $402M | |
| PP&E (Net) | $42M | $36M | $30M | $25M | $20M | $16M | $12M | $12M | $11M | $10M | · | $10M | $9M | $9M | · | $7M | |
| PP&E (Gross) | · | · | $42M | · | · | · | $21M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $12M | · | · | · | $8M | · | · | · | · | · | · | · | · | · | |
| Goodwill | $20M | $20M | $20M | $20M | $20M | $20M | $16M | $16M | $16M | $12M | · | $12M | $12M | $12M | · | $12M | |
| Intangibles | $6M | $6M | $6M | $6M | $7M | $7M | $1M | $1M | $1M | · | · | $0 | $0 | $0 | · | $223.0K | |
| Other Non-current Assets | $19M | $18M | $17M | $12M | $9M | $9M | $3M | $3M | $3M | $3M | · | $4M | $4M | $4M | · | $4M | |
| Total Assets | $716M | $698M | $742M | $795M | $761M | $730M | $607M | $660M | $699M | $794M | · | $727M | $682M | $650M | · | $510M | |
| Accounts Payable | $152M | $158M | $124M | $123M | $141M | $146M | $95M | $130M | $152M | $130M | · | $132M | $130M | $146M | · | $104M | |
| Current Liabilities | $240M | $236M | $202M | $210M | $220M | $237M | $169M | $208M | $225M | $206M | · | $193M | $194M | $207M | · | $157M | |
| Capital Leases | $22M | $23M | $24M | $25M | $26M | $26M | $16M | $17M | $17M | $17M | · | $18M | $18M | $18M | · | $7M | |
| Total Liabilities | $263M | $259M | $226M | $235M | $246M | $263M | $185M | $225M | $242M | $223M | · | $211M | $212M | $225M | · | $164M | |
| Common Stock | $9.0K | $9.0K | $9.0K | $9.0K | $9.0K | $9.0K | $9.0K | $9.0K | $9.0K | $9.0K | · | $9.0K | $9.0K | $9.0K | · | $9.0K | |
| Retained Earnings | $255M | $227M | $203M | $190M | $176M | $159M | $144M | $134M | $123M | $107M | · | $77M | $61M | $46M | · | $25M | |
| Treasury Stock | $538M | $506M | $388M | $304M | $304M | $304M | $304M | $251M | $189M | $27M | · | $1M | $1M | $1M | · | $1M | |
| AOCI | $245.0K | $277.0K | $498.0K | $419.0K | $218.0K | $110.0K | $39.0K | $330.0K | $2M | $3M | · | $2M | $1M | $724.0K | · | $205.0K | |
| Stockholders' Equity | $453M | $439M | $516M | $560M | $515M | $467M | $422M | $435M | $456M | $572M | $553M | $515M | $469M | $424M | $377M | $347M | |
| Liabilities + Equity | $716M | $698M | $742M | $795M | $761M | $730M | $607M | $660M | $699M | $794M | · | $727M | $682M | $650M | · | $510M | |
| Shares Outstanding | 77,390,288 | 78,270,386 | 83,365,696 | 86,147,212 | 85,927,511 | 85,669,824 | 85,310,698 | 88,343,258 | 90,711,413 | 96,115,816 | 96,348,522 | 95,764,690 | 95,165,253 | 94,319,215 | 93,301,156 | 92,633,184 |
Cash Flow 12
| Metric | Trend | Q2 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $2M | $1M | $1M | $1M | $1M | $1M | $868.0K | $837.0K | $754.0K | $716.0K | $634.0K | $579.0K | $527.0K | $541.0K | $446.0K | $405.0K | |
| Stock-based Comp | $20M | $20M | $35M | $32M | $32M | $33M | $31M | $33M | $33M | $31M | $29M | $31M | $32M | $31M | $29M | $23M | |
| Other Non-cash | · | $513.0K | · | · | · | $1M | · | · | · | $-23M | · | · | · | $-28M | · | · | |
| Operating Cash Flow | $50M | $46M | $54M | $51M | $56M | $50M | $52M | $45M | $57M | $26M | $38M | $54M | $76M | $21M | $52M | $21M | |
| CapEx | $6M | $6M | $6M | $5M | $5M | $3M | $2M | $2M | $866.0K | $850.0K | $681.0K | $953.0K | $759.0K | $1M | $721.0K | $1M | |
| Investing Cash Flow | $4M | $97M | $8M | $-43M | $-30M | $-95M | $75M | $15M | $86M | $19M | $-93M | $-64M | $-59M | $16M | $-1M | $-2M | |
| Stock Repurchased | $30M | $119M | $82M | $0 | $0 | $0 | $55M | $61M | $160M | $24M | $0 | $0 | $0 | $0 | · | · | |
| Net Stock Activity | · | $-119M | · | · | · | $0 | · | · | · | $-24M | · | · | · | · | · | · | |
| Financing Cash Flow | $-33M | $-123M | $-88M | $-5M | $-2M | $-3M | $-56M | $-63M | $-163M | $-27M | $-5M | $-2M | $-2M | $-2M | $-3M | $-1M | |
| Net Change in Cash | $21M | $19M | $-26M | $2M | $23M | $-48M | $71M | $-3M | $-20M | $18M | $-61M | $-12M | $15M | $35M | $48M | $18M | |
| Taxes Paid | $18M | $640.0K | $16M | $16M | $24M | $400.0K | $6M | $18M | $18M | $-362.0K | $4M | $2M | $718.0K | $-20.0K | $-13.0K | $86.0K | |
| Free Cash Flow | · | $40M | · | · | · | $47M | · | · | · | $25M | · | · | · | $20M | · | · |
Profitability 8
| Metric | Trend | Q2 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 25.5% | 25.3% | · | 23.2% | 23.7% | 23.4% | · | 20.7% | 22.4% | 22.4% | · | 22.3% | 21.7% | 22.7% | · | 22.4% | |
| Operating Margin | 11.4% | 10.8% | · | 6.9% | 7.3% | 7.5% | · | 4.3% | 6.8% | 6.7% | · | 6.5% | 5.4% | 5.8% | · | 5.5% | |
| Net Margin | 8.0% | 7.4% | · | 4.4% | 5.1% | 4.7% | · | 3.6% | 5.4% | 6.1% | · | 5.7% | 5.4% | 6.8% | · | 6.4% | |
| Pretax Margin | 11.7% | 11.2% | · | 7.6% | 8.1% | 8.2% | · | 6.3% | 8.2% | 8.1% | · | 7.4% | 6.1% | 6.3% | · | 5.6% | |
| EBITDA Margin | 11.4% | 11.2% | · | 6.9% | 7.3% | 7.8% | · | 4.3% | 6.8% | 6.9% | · | 6.5% | 5.4% | 6.0% | · | 5.5% | |
| ROA | 3.8% | 3.4% | · | 1.9% | 2.3% | 2.0% | · | 1.5% | 2.4% | 2.3% | · | 2.6% | 2.6% | 3.3% | · | 3.1% | |
| ROE | 5.8% | 5.3% | · | 2.8% | 3.5% | 2.9% | · | 2.2% | 3.6% | 3.4% | · | 3.7% | 3.8% | 5.0% | · | 4.6% | |
| ROIC | 6.0% | 5.3% | · | 2.2% | 3.0% | 2.9% | · | 1.7% | 3.0% | 2.4% | · | 2.7% | 2.8% | 3.8% | · | 3.7% |
Liquidity & Solvency 2
| Metric | Trend | Q2 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.1 | 2.1 | · | 3.0 | 2.7 | 2.4 | · | 2.6 | 2.6 | 3.3 | · | 3.2 | 2.9 | 2.5 | · | 2.6 | |
| Quick Ratio | 1.7 | 1.7 | · | 1.8 | 1.8 | 1.7 | · | 1.8 | 1.7 | 2.0 | · | 2.2 | 2.2 | 2.3 | · | 2.1 |
Efficiency 2
| Metric | Trend | Q2 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.5 | 0.5 | · | 0.4 | 0.5 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.5 | 0.5 | 0.5 | · | 0.5 | |
| Receivables Turnover | 1.3 | 1.2 | · | 1.2 | 1.2 | 1.1 | · | 1.0 | 1.1 | 0.9 | · | 1.1 | 1.1 | 1.0 | · | 1.0 |
Valuation (TTM) 10
| Metric | Trend | Q2 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.31B | $1.29B | · | $1.27B | $1.24B | $1.21B | · | $1.14B | $1.13B | $1.11B | · | $1.03B | $957M | $873M | · | $700M | |
| Net Income TTM | $79M | $68M | · | $57M | $53M | $52M | · | $57M | $63M | $61M | · | $52M | $49M | $43M | · | $42M | |
| Market Cap | $2.23B | $1.33B | · | $1.85B | $1.89B | $1.91B | · | $1.48B | $2.60B | $3.67B | · | $3.26B | $3.74B | $3.03B | · | $3.43B | |
| P/E | 31.3 | 22.1 | · | 34.2 | 37.3 | 39.2 | · | 28.9 | 45.4 | 62.5 | · | 65.4 | 80.3 | 74.7 | · | 88.2 | |
| P/S | 1.7 | 1.0 | · | 1.5 | 1.5 | 1.6 | · | 1.3 | 2.3 | 3.3 | · | 3.2 | 3.9 | 3.5 | · | 4.9 | |
| P/B | 4.9 | 3.0 | · | 3.3 | 3.7 | 4.1 | · | 3.4 | 5.7 | 6.4 | · | 6.3 | 8.0 | 7.1 | · | 9.9 | |
| P / Tangible Book | 5.2 | 3.2 | · | 3.5 | 3.9 | 4.3 | · | 3.5 | 5.9 | 6.6 | · | 6.5 | 8.2 | 7.3 | · | 10.3 | |
| P / Cash Flow | · | 28.9 | · | · | · | 38.4 | · | · | · | 142.5 | · | · | · | 144.5 | · | · | |
| P / FCF | · | 33.6 | · | · | · | 40.8 | · | · | · | 147.4 | · | · | · | 153.7 | · | · | |
| Earnings Yield | 3.2% | 4.5% | · | 2.9% | 2.7% | 2.5% | · | 3.5% | 2.2% | 1.6% | · | 1.5% | 1.2% | 1.3% | · | 1.1% |
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 | |
|---|---|---|---|---|---|
| Revenue | $1.29B | $1.17B | $1.09B | $787M | $501M |
| Gross Margin % | 23.6% | 21.7% | 21.9% | 21.3% | 22.4% |
| Operating Margin % | 6.6% | 5.8% | 5.7% | 3.0% | 6.5% |
| Net Income | $59M | $54M | $62M | $30M | $66M |
| Diluted EPS | $0.65 | $0.57 | $0.62 | $0.30 | $0.66 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 2.7 | 2.8 | 3.4 | 2.7 | 2.6 |
| Quick Ratio | 1.6 | 2.4 | 1.8 | 2.3 | 2.3 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $192M | $174M | $185M | $77M | $24M |
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Institutional owners (13F) 338 filers · $1.4B 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 |
|---|---|---|---|---|
| 66 (+15 vs prior Q) | 38 (-22 vs prior Q) | 87 (-27 vs prior Q) | 114 (+31 vs prior Q) | +604K |
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 | $144,711,176 | 5,019,465 | 10.32% | Shares |
| FMR LLC | $144,043,761 | 4,996,315 | 10.27% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $92,565,144 | 3,210,723 | 6.60% | Shares |
| STATE STREET CORP | $87,149,025 | 3,022,859 | 6.22% | Shares |
| FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ | $73,463,568 | 2,548,164 | 5.24% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $49,216,483 | 1,706,774 | 3.51% | Shares |
| Soleus Capital Management, L.P. | $46,185,660 | 1,602,000 | 3.29% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $43,990,198 | 1,525,848 | 3.14% | Shares |
| CITADEL ADVISORS LLC | $40,183,168 | 1,393,797 | 2.87% | Shares |
| DISCIPLINED GROWTH INVESTORS INC /MN | $34,066,465 | 1,181,632 | 2.43% | Shares |
| EASTERLY INVESTMENT PARTNERS LLC | $27,622,513 | 958,117 | 1.97% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $27,505,694 | 954,065 | 1.96% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $27,040,464 | 937,928 | 1.93% | Shares |
| LOOMIS SAYLES & CO L P | $25,919,756 | 899,055 | 1.85% | Shares |
| AMERICAN CENTURY COMPANIES INC | $22,453,928 | 778,839 | 1.60% | Shares |
| Fideuram Asset Management (Ireland) dac | $18,393,641 | 904,062 | 1.31% | Shares |
| River Road Asset Management, LLC | $18,307,713 | 635,023 | 1.31% | Shares |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | $16,806,506 | 582,952 | 1.20% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $15,436,447 | 535,430 | 1.10% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $14,873,282 | 515,896 | 1.06% | Shares |
| BAILLIE GIFFORD & CO | $13,780,509 | 477,992 | 0.98% | Shares |
| Dana Investment Advisors, Inc. | $13,479,870 | 467,564 | 0.96% | Shares |
| MILLENNIUM MANAGEMENT LLC | $12,674,302 | 439,622 | 0.90% | Shares |
| MORGAN STANLEY | $12,324,969 | 427,505 | 0.88% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $12,243,150 | 424,667 | 0.87% | Shares |
| BANK OF AMERICA CORP /DE/ | $11,011,388 | 381,942 | 0.79% | Shares |
| AMERIPRISE FINANCIAL INC | $10,750,794 | 372,903 | 0.77% | Shares |
| Simcoe Capital LLC | $10,419,998 | 361,429 | 0.74% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $9,790,351 | 339,589 | 0.70% | Shares |
| Trexquant Investment LP | $9,139,715 | 317,021 | 0.65% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $9,101,746 | 315,704 | 0.65% | Shares |
| Public Sector Pension Investment Board | $8,971,521 | 311,187 | 0.64% | Shares |
| CAXTON ASSOCIATES LLP | $8,455,464 | 293,287 | 0.60% | Shares |
| GOLDMAN SACHS GROUP INC | $7,433,902 | 257,853 | 0.53% | Shares |
| WINTON GROUP Ltd | $7,260,374 | 251,834 | 0.52% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $7,044,783 | 244,356 | 0.50% | Shares |
| AWM Investment Company, Inc. | $6,342,600 | 220,000 | 0.45% | Shares |
| First Eagle Investment Management, LLC | $6,146,902 | 213,212 | 0.44% | Shares |
| PEAK6 LLC | $6,091,779 | 211,300 | 0.43% | Call option |
| CAPTRUST FINANCIAL ADVISORS | $5,875,468 | 203,797 | 0.42% | Shares |
| Bank of New York Mellon Corp | $5,672,591 | 196,760 | 0.40% | Shares |
| TOWLE & CO | $5,639,004 | 195,595 | 0.40% | Shares |
| JANE STREET GROUP, LLC | $5,511,835 | 191,184 | 0.39% | Shares |
| CenterBook Partners LP | $4,907,702 | 170,229 | 0.35% | Shares |
| RHUMBLINE ADVISERS | $4,802,447 | 166,579 | 0.34% | Shares |
| Gotham Asset Management, LLC | $4,576,763 | 158,750 | 0.33% | Shares |
| Cresset Asset Management, LLC | $4,533,719 | 157,257 | 0.32% | Shares |
| Quantinno Capital Management LP | $4,496,067 | 155,951 | 0.32% | Shares |
| Engineers Gate Manager LP | $4,403,984 | 152,757 | 0.31% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $4,323,663 | 149,971 | 0.31% | Shares |
| INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC | $4,313,365 | 146,464 | 0.31% | Shares |
| Militia Capital Management LLC | $4,304,319 | 149,300 | 0.31% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $4,281,514 | 148,509 | 0.31% | Shares |
| Swiss National Bank | $4,188,999 | 145,300 | 0.30% | Shares |
| NATIXIS | $4,093,860 | 142,000 | 0.29% | Shares |
| Jump Financial, LLC | $4,025,475 | 139,628 | 0.29% | Shares |
| Edgestream Partners, L.P. | $3,881,931 | 134,649 | 0.28% | Shares |
| EXCHANGE TRADED CONCEPTS, LLC | $3,699,783 | 128,331 | 0.26% | Shares |
| PRUDENTIAL FINANCIAL INC | $3,682,168 | 127,720 | 0.26% | Shares |
| BARCLAYS PLC | $3,620,240 | 125,572 | 0.26% | Shares |
| BlackRock, Inc. | $3,259,030 | 113,043 | 0.23% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $3,220,167 | 111,695 | 0.23% | Shares |
| Legal & General Group Plc | $3,207,827 | 111,267 | 0.23% | Shares |
| Corient Private Wealth LP | $3,169,542 | 109,939 | 0.23% | Shares |
| FIRST TRUST ADVISORS LP | $3,052,895 | 105,893 | 0.22% | Shares |
| Balyasny Asset Management L.P. | $2,975,602 | 103,212 | 0.21% | Shares |
| ROYCE & ASSOCIATES LP | $2,877,782 | 99,819 | 0.21% | Shares |
| FRED ALGER MANAGEMENT, LLC | $2,816,057 | 97,678 | 0.20% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $2,712,903 | 94,100 | 0.19% | Call option |
| Thematics Asset Management | $2,667,770 | 123,967 | 0.19% | Shares |
| Moran Wealth Management, LLC | $2,640,828 | 91,600 | 0.19% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $2,550,359 | 88,462 | 0.18% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $2,476,670 | 85,906 | 0.18% | Shares |
| TOCQUEVILLE ASSET MANAGEMENT L.P. | $2,421,720 | 84,000 | 0.17% | Shares |
| OMERS ADMINISTRATION Corp | $2,266,182 | 78,605 | 0.16% | Shares |
| NORGES BANK | $2,223,514 | 77,125 | 0.16% | Shares |
| SEGALL BRYANT & HAMILL, LLC | $2,187,246 | 75,867 | 0.16% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $2,155,360 | 74,761 | 0.15% | Shares |
| KORNITZER CAPITAL MANAGEMENT INC /KS | $2,077,057 | 72,045 | 0.15% | Shares |
| MARTINGALE ASSET MANAGEMENT L P | $1,981,285 | 68,723 | 0.14% | Shares |
| MARSHALL WACE, LLP | $1,971,510 | 68,384 | 0.14% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $1,909,238 | 66,224 | 0.14% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $1,893,035 | 65,662 | 0.14% | Shares |
| WELLS FARGO & COMPANY/MN | $1,864,724 | 64,680 | 0.13% | Shares |
| ExodusPoint Capital Management, LP | $1,847,542 | 64,084 | 0.13% | Shares |
| JUPITER ASSET MANAGEMENT LTD | $1,826,669 | 63,360 | 0.13% | Shares |
| Jefferies Financial Group Inc. | $1,759,062 | 61,015 | 0.13% | Shares |
| Squarepoint Ops LLC | $1,704,977 | 59,139 | 0.12% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $1,693,806 | 99,753 | 0.12% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $1,652,045 | 57,303 | 0.12% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $1,594,703 | 55,314 | 0.11% | Shares |
| Mariner, LLC | $1,579,091 | 54,772 | 0.11% | Shares |
| FIFTH THIRD BANCORP | $1,568,266 | 54,397 | 0.11% | Shares |
| Nebula Research & Development LLC | $1,525,678 | 69,349 | 0.11% | Shares |
| ALLIANCEBERNSTEIN L.P. | $1,516,654 | 89,320 | 0.11% | Shares |
| Bridgewater Associates, LP | $1,491,607 | 51,738 | 0.11% | Shares |
| Point Nemo Capital, LLC | $1,473,299 | 51,103 | 0.11% | Shares |
| SEI INVESTMENTS CO | $1,448,320 | 50,234 | 0.10% | Shares |
| Abu Dhabi Investment Council Co P.J.S.C | $1,444,902 | 50,118 | 0.10% | Shares |
| Qube Research & Technologies Ltd | $1,393,123 | 48,322 | 0.10% | Shares |
Company insiders 19 insiders · 10 officers · 10 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Peter Anevski | CHIEF EXECUTIVE OFFICER | June 3, 2026 F | 811,472 | 0 | 0 | $0 |
| Mark S. Livingston | CHIEF FINANCIAL OFFICER | June 3, 2026 F | 74,688 | 0 | 2 | $-56,219 |
| Michael E Sturmer | PRESIDENT | May 26, 2022 F | 223,164 | 0 | 0 | $0 |
| Melissa B Cummings | Chief Operating Officer | July 14, 2026 S | 69,934 | 0 | 1 | $-70,910 |
| Geoffrey Clapp | Chief Product Officer | June 17, 2026 F | 59,828 | 0 | 1 | $-39,137 |
| Allison Swartz | EVP, GC | June 3, 2026 F | 82,378 | 0 | 2 | $-91,052 |
| David J Schlanger | EXECUTIVE CHAIRMAN | June 27, 2022 S | 82,548 | 0 | 0 | $0 |
| Jennifer Bealer | EVP, GENERAL COUNSEL | May 26, 2022 F | 103,237 | 0 | 0 | $0 |
| Lisa Greenbaum | EVP, Chief Client Officer | April 15, 2021 M | 11,746 | 0 | 0 | $0 |
| Karin Ajmani | EVP, Chief of Strategic Dev. | Feb. 19, 2020 M | 1,128,560 | 0 | 0 | $0 |
| Cheryl Scott | Director | June 1, 2026 F | 19,772 | 0 | 1 | $-196,278 |
| Norman Payson | Director | July 21, 2022 S | 418,030 | 0 | 0 | $0 |
| Beth C Seidenberg | Director | Dec. 22, 2021 J | 33,093 | 0 | 0 | $0 |
| Malissia Clinton | Director | Oct. 24, 2021 A | 2,210 | 0 | 0 | $0 |
| Jeffrey G Park | Director | Oct. 24, 2021 A | 8,652 | 0 | 0 | $0 |
| Fred Cohen | Director | Oct. 24, 2021 A | 8,652 | 0 | 0 | $0 |
| Roger C Holstein | Director | Oct. 24, 2021 A | 2,210 | 0 | 0 | $0 |
| Kevin K Gordon | Director | Oct. 24, 2021 A | 7,210 | 0 | 0 | $0 |
| KPCB XIII Associates, LLC | 10% owner | March 30, 2021 J | 0 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 1 position
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 |
|---|---|---|---|---|---|
| David J. Schlanger | March 2, 2021 | — | Initial filing | 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 84 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 |
|---|---|---|---|---|
| TCV · EA Series Trust | 2.66% | 210,241 NS | May 29, 2026 | N-PORT |
| ABLS · Abacus FCF ETF Trust | 1.97% | 1,301 NS | April 30, 2026 | N-PORT |
| FSGS · First Trust Exchange-Traded Fund VI | 1.55% | 15,334 NS | June 30, 2026 | N-PORT |
| RZG · Invesco Exchange-Traded Fund Trust | 1.22% | 62,602 SH | Aug. 21, 2026 | Daily |
| RNIN · EA Series Trust | 1.20% | 98,701 NS | April 30, 2026 | N-PORT |
| PSCH · Invesco Exchange-Traded Fund Trust … | 0.95% | 68,505 SH | Aug. 21, 2026 | Daily |
| EKG · First Trust Exchange-Traded Fund II | 0.88% | 862 NS | June 30, 2026 | N-PORT |
| CAFG · Pacer Funds Trust | 0.45% | 5,513 NS | April 30, 2026 | N-PORT |
| IHF · iShares Trust | 0.28% | 131,110 SH | Aug. 21, 2026 | Daily |
| CALF · Pacer Funds Trust | 0.23% | 428,381 NS | April 30, 2026 | N-PORT |
| VIOG · VANGUARD ADMIRAL FUNDS | 0.23% | 86,711 SH | Aug. 19, 2026 | Daily |
| PSC · Principal Exchange-Traded Funds | 0.23% | 182,800 NS | June 30, 2026 | N-PORT |
| AFSM · First Trust Exchange-Traded Fund VI… | 0.17% | 6,404 NS | May 31, 2026 | N-PORT |
| QVMS · Invesco Exchange-Traded Fund Trust … | 0.13% | 12,635 SH | Aug. 21, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.12% | 73,275 SH | Aug. 19, 2026 | Daily |
| FYC · First Trust Exchange-Traded AlphaDE… | 0.12% | 67,475 NS | April 30, 2026 | N-PORT |
| IWO · iShares Trust | 0.11% | 646,817 SH | Aug. 21, 2026 | Daily |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.11% | 254,828 SH | Aug. 19, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.10% | 113,078 NS | May 31, 2026 | N-PORT |
| TMFX · RBB Fund, Inc. | 0.10% | 1,272 NS | May 31, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.09% | 102,941 SH | Aug. 21, 2026 | Daily |
| SAA · ProShares Trust | 0.09% | 960 NS | May 31, 2026 | N-PORT |
| FSMD · FIDELITY COVINGTON TRUST | 0.08% | 106,154 NS | April 30, 2026 | N-PORT |
| RWJ · Invesco Exchange-Traded Fund Trust … | 0.08% | 64,880 SH | Aug. 21, 2026 | Daily |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.07% | 27,638 NS | April 30, 2026 | N-PORT |
| AVIE · AMERICAN CENTURY ETF TRUST | 0.06% | 254 NS | May 31, 2026 | N-PORT |
| GSSC · Goldman Sachs ETF Trust | 0.06% | 24,106 NS | May 31, 2026 | N-PORT |
| ISCG · iShares Trust | 0.06% | 23,224 SH | Aug. 21, 2026 | Daily |
| VBK · VANGUARD INDEX FUNDS | 0.06% | 927,416 SH | Aug. 19, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.06% | 393,311 SH | Aug. 19, 2026 | Daily |
| IWM · iShares Trust | 0.06% | 1,776,117 SH | Aug. 21, 2026 | Daily |
| RB · ProShares Trust | 0.05% | 23 NS | May 31, 2026 | N-PORT |
| PKW · Invesco Exchange-Traded Fund Trust | 0.05% | 34,024 SH | Aug. 21, 2026 | Daily |
| RILA · Spinnaker ETF Series | 0.05% | 1,128 NS | April 30, 2026 | N-PORT |
| ESML · iShares Trust | 0.05% | 54,347 SH | Aug. 21, 2026 | Daily |
| ITWO · ProShares Trust | 0.05% | 3,534 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.04% | 387,763 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.03% | 257,327 NS | April 30, 2026 | N-PORT |
| EBIT · Harbor ETF Trust | 0.03% | 201 NS | April 30, 2026 | N-PORT |
| SMDX · Tidal Trust III | 0.03% | 2,063 NS | April 30, 2026 | N-PORT |
| ISCB · iShares Trust | 0.03% | 3,377 SH | Aug. 21, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.03% | 218,056 SH | Aug. 19, 2026 | Daily |
| UWM · ProShares Trust | 0.03% | 2,765 NS | May 31, 2026 | N-PORT |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.02% | 6,294 NS | April 30, 2026 | N-PORT |
| FHLC · FIDELITY COVINGTON TRUST | 0.02% | 37,351 NS | April 30, 2026 | N-PORT |
| FNDA · SCHWAB STRATEGIC TRUST | 0.02% | 82,887 NS | May 31, 2026 | N-PORT |
| TMFE · RBB Fund, Inc. | 0.02% | 746 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.02% | 2,796 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.02% | 836,038 SH | Aug. 19, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.02% | 1,612,711 SH | Aug. 19, 2026 | Daily |