PKG Packaging Corporation of America Common Stock

NYSE · Packaging · View on SEC EDGAR ↗
$251.72
Price · Aug 20, 2026
Fundamentals as of Aug 7, 2026

About Packaging Corporation of America Common Stock Company overview from Wikipedia

Packaging Corporation of America is an American manufacturing company based in Lake Forest, Illinois. The company has about 15,500 employees, with operations primarily in the United States. The CEO is Mark W. Kowlzan.

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Packaging Corporation of America is an American manufacturing company based in Lake Forest, Illinois. The company has about 15,500 employees, with operations primarily in the United States. The CEO is Mark W. Kowlzan.

## History and operations

The company was founded in 1959 by the consolidation of three companies and was eventually acquired by Tenneco in 1965. In November 1995, the company's name was changed to Tenneco Packaging Inc.; in 1999, a new entity re-established the name Packaging Corporation of America

In 2009, the company opened a new design center and project-management facility in Hong Kong, operating under the name Packaging Corporation of Asia Limited.

The company has acquired many companies, including Boise Inc. in 2013, TimBar Corporation and Columbus Container, Inc. in 2016, Sacramento Container Corporation in 2017, and Englander Container and Display in 2018.

The company's network consists of 6 containerboard mills, 2 white paper mills, 95 converting facilities, 10 creative design centers, 3 fulfillment centers, 8 packaging and supply centers, 2 training and resource centers, and 1 technical center.

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

Wikidata ↗

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

Price
$251.72
Market Cap
P/E (TTM)
24.0
EPS (TTM)
$8.58
Revenue (TTM)
$8.99B
Div Yield
ROE
17.2%
Debt/Equity
0.9
52W Range
$192 – $260

PKG 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 $8.99B
5-point trend, +16.3%
2021-12-31 2025-12-31
EPS $8.58
5-point trend, -2.8%
2021-12-31 2025-12-31
Free Cash Flow $729M
5-point trend, +49.0%
2021-12-31 2025-12-31
Margins 8.6%
5-point trend, -13.2%
2021-12-31 2025-12-31

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

Metric
5Y trend
PKG
Peer Median
P/E (TTM)
5-point trend, +55.9%
24.0
16.6

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

Metric
5Y trend
PKG
Peer Median
Gross Margin
5-point trend, -13.2%
21.0%
24.8%
Operating Margin
5-point trend, -23.3%
12.3%
Net Profit Margin
5-point trend, -20.9%
8.6%
5.4%
ROA
5-point trend, -28.1%
7.9%
4.7%
ROE
5-point trend, -29.9%
17.2%
12.2%
ROIC
5-point trend, -37.2%
9.7%

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
PKG
Peer Median
Debt / Equity
5-point trend, +25.9%
0.9
Current Ratio
5-point trend, +2.5%
3.2
1.3
Quick Ratio
5-point trend, -7.9%
1.8

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

Metric
5Y trend
PKG
Peer Median
Revenue YoY
5-point trend, +16.3%
7.2%
Revenue CAGR 3Y
5-point trend, +16.3%
2.0%
Revenue CAGR 5Y
5-point trend, +16.3%
6.2%
EPS YoY
5-point trend, -2.8%
-3.9%
Net Income YoY
5-point trend, -8.0%
-3.9%

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

Metric
5Y trend
PKG
Peer Median
EPS (Diluted)
5-point trend, -2.8%
$8.58

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
PKG
Peer Median
Payout Ratio
5-point trend, +28.6%
58.1%

Dividends Yield, payout ratio, dividend history, 5Y CAGR

Dividend Yield
Payout Ratio
58.1%
5Y Div CAGR
Ex-dateAmount
June 15, 2026$1.5000
March 13, 2026$1.2500
Dec. 15, 2025$1.2500
Sept. 15, 2025$1.2500
June 13, 2025$1.2500
March 14, 2025$1.2500
Dec. 20, 2024$1.2500
Sept. 16, 2024$1.2500
June 14, 2024$1.2500
March 14, 2024$1.2500
Dec. 15, 2023$1.2500
Sept. 22, 2023$1.2500
June 14, 2023$1.2500
March 14, 2023$1.2500
Dec. 16, 2022$1.2500
Sept. 30, 2022$1.2500
June 14, 2022$1.2500
March 14, 2022$1.0000
Dec. 17, 2021$1.0000
Sept. 14, 2021$1.0000

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

BUY 16 analysts
  • Strong Buy 3 18.8%
  • Buy 7 43.8%
  • Hold 6 37.5%
  • Sell 0 0.0%
  • Strong Sell 0 0.0%

12-Month Price Target

10 analysts · 2026-08-17
Median target $270.00 +7.3%
Mean target $260.50 +3.5%

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

Avg Surprise
0.02%
Period EPS Actual EPS Est Surprise
June 30, 2026 $2.35 $2.34 0.01%
March 31, 2026 $2.40 $2.15 0.25%
Dec. 31, 2025 $2.32 $2.43 -0.11%
Sept. 30, 2025 $2.73 $2.84 -0.11%
June 30, 2025 $2.48 $2.46 0.02%
March 31, 2025 $2.31 $2.23 0.08%

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

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
PKG 24.0 7.2% 8.6% 17.2% 21.0%
IP $24.70B -5.7 49.2% -14.9% -21.0%
AVY $13.98B 20.7 1.1% 7.8% 30.2% 28.7%
SON $4.30B 4.3 41.7% 13.3% 34.1% 20.9%
GPK $4.44B 10.2 -2.2% 5.1% 14.0%
PACK $457M -12.0 7.1% -9.7% -7.1% 33.1%

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

Income Statement 14
Annual Income Statement data for PKG
Metric Trend 20252024202320222021202020192018201720162015
Revenue 11-point trend, +56.6% $8.99B $8.38B $7.80B $8.48B $7.73B $6.66B $6.96B $7.01B $6.44B $5.78B $5.74B
Cost of Revenue 11-point trend, +56.6% $7.10B $6.60B $6.10B $6.39B $5.86B $5.29B $5.32B $5.37B $4.97B $4.50B $4.53B
Gross Profit 11-point trend, +56.4% $1.89B $1.78B $1.70B $2.09B $1.87B $1.37B $1.64B $1.65B $1.47B $1.28B $1.21B
R&D Expense 7-point trend, +10.7% · · · · $14M $16M $16M $14M $13M $13M $13M
SG&A Expense 11-point trend, +40.5% $634M $610M $581M $609M $577M $540M $558M $536M $520M $468M $451M
Operating Income 11-point trend, +47.6% $1.11B $1.10B $1.08B $1.42B $1.24B $724M $1.05B $1.07B $932M $783M $750M
Pretax Income 11-point trend, +54.7% $1.03B $1.06B $1.01B $1.36B $1.11B $633M $917M $970M $829M $688M $664M
Income Tax 11-point trend, +11.4% $254M $259M $249M $335M $268M $172M $221M $232M $160M $239M $228M
Net Income 11-point trend, +77.2% $774M $805M $765M $1.03B $841M $461M $696M $738M $669M $450M $437M
EPS (Basic) 11-point trend, +92.6% $8.61 $8.97 $8.52 $11.08 $8.87 $4.86 $7.36 $7.82 $7.09 $4.76 $4.47
EPS (Diluted) 11-point trend, +91.9% $8.58 $8.93 $8.48 $11.03 $8.83 $4.84 $7.34 $7.80 $7.07 $4.75 $4.47
Shares (Basic) 11-point trend, -7.6% 89,300,000 89,100,000 89,100,000 92,300,000 94,100,000 94,100,000 93,800,000 93,700,000 93,500,000 93,500,000 96,600,000
Shares (Diluted) 11-point trend, -7.3% 89,600,000 89,500,000 89,500,000 92,700,000 94,500,000 94,400,000 94,100,000 93,900,000 93,700,000 93,700,000 96,700,000
EBITDA 10-point trend, +59.0% $1.76B $1.63B $1.59B $1.88B $1.66B $1.13B $1.44B $1.48B $1.32B · $1.11B
Balance Sheet 26
Annual Balance Sheet data for PKG
Metric Trend 20252024202320222021202020192018201720162015
Cash & Equivalents 11-point trend, +187.2% $529M $685M $648M $320M $619M $975M $680M $362M $217M $239M $184M
Receivables 11-point trend, +97.3% $1.26B $1.14B $1.03B $1.03B $1.07B $832M $846M $902M $831M $689M $636M
Inventory 11-point trend, +83.7% $1.24B $1.12B $1.01B $977M $902M $788M $794M $796M $762M $724M $677M
Prepaid Expense 11-point trend, +197.9% $86M $167M $62M $58M $47M $45M $45M $39M $36M $30M $29M
Current Assets 11-point trend, +106.7% $3.21B $3.23B $3.25B $2.51B $2.73B $2.75B $2.48B $2.12B $1.92B $1.70B $1.55B
PP&E (Net) 11-point trend, +76.0% $4.99B $4.04B $3.86B $3.90B $3.53B $3.19B $3.15B $3.11B $2.92B $2.90B $2.83B
PP&E (Gross) 11-point trend, +86.2% $10.64B $9.31B $8.81B $8.51B $7.87B $7.31B $7.00B $6.69B $6.31B $6.01B $5.71B
Accum. Depreciation 11-point trend, +96.3% $5.66B $5.27B $4.94B $4.61B $4.34B $4.12B $3.85B $3.58B $3.39B $3.11B $2.88B
Goodwill 11-point trend, +152.3% $1.37B $922M $922M $922M $924M $864M $919M $917M $883M $738M $544M
Intangibles 11-point trend, +122.4% $602M $192M $230M $268M $308M $296M $339M $378M $410M $367M $271M
Other Non-current Assets 11-point trend, +53.9% $109M $105M $67M $42M $45M $53M $56M $50M $64M $80M $71M
Total Assets 11-point trend, +103.4% $10.73B $8.83B $8.68B $8.00B $7.84B $7.43B $7.24B $6.57B $6.20B $5.78B $5.27B
Accounts Payable 11-point trend, +60.2% $471M $430M $402M $410M $452M $387M $352M $382M $403M $324M $294M
Accrued Liabilities 11-point trend, +56.1% $302M $363M $254M $264M $255M $216M $218M $222M $203M $201M $194M
Current Liabilities 11-point trend, +80.7% $1.02B $1.00B $1.27B $876M $885M $783M $724M $694M $833M $625M $562M
Capital Leases 11-point trend, +1245.4% $291M $208M $212M $235M $179M $174M $178M $18M $19M $20M $22M
Deferred Tax 11-point trend, +90.2% $660M $562M $558M $543M $466M $379M $340M $285M $240M $335M $347M
Other Non-current Liabilities 11-point trend, +40.0% $83M $81M $61M $57M $58M $59M $55M $60M $71M $60M $60M
Long-term Debt 11-point trend, +72.9% $3.99B $2.49B $2.89B $2.49B $2.49B $2.49B $2.49B $2.50B $2.65B $2.66B $2.31B
Total Debt 10-point trend, +71.8% $3.97B $2.47B $2.87B $2.47B $2.47B $2.48B $2.48B $2.48B $2.63B · $2.31B
Common Stock 11-point trend, -10.0% $900.0K $900.0K $900.0K $900.0K $900.0K $900.0K $900.0K $900.0K $900.0K $900.0K $1M
Retained Earnings 11-point trend, +198.4% $3.93B $3.78B $3.45B $3.19B $3.10B $2.84B $2.70B $2.32B $1.87B $1.45B $1.32B
Treasury Stock · · · · · · · · · · $0
AOCI 11-point trend, +66.7% $-42M $-43M $-71M $-102M $-75M $-144M $-160M $-139M $-157M $-140M $-125M
Stockholders' Equity 11-point trend, +181.5% $4.60B $4.40B $4.00B $3.67B $3.61B $3.25B $3.07B $2.67B $2.18B $1.76B $1.63B
Liabilities + Equity 11-point trend, +103.4% $10.73B $8.83B $8.68B $8.00B $7.84B $7.43B $7.24B $6.57B $6.20B $5.78B $5.27B
Cash Flow 17
Annual Cash Flow data for PKG
Metric Trend 20252024202320222021202020192018201720162015
D&A 11-point trend, +83.1% $653M $526M $518M $457M $418M $410M $388M $411M $391M $358M $356M
Stock-based Comp 11-point trend, +148.4% $45M $49M $40M $36M $36M $30M $30M $24M $21M $20M $18M
Deferred Tax 11-point trend, +5623.5% $97M $-4M $5M $86M $59M $35M $60M $39M $-84M $-4M $2M
Amort. of Intangibles 11-point trend, +118.5% $50M $38M $38M $39M $38M $43M $39M $40M $36M $27M $23M
Other Non-cash 10-point trend, +76.5% $-12M $-184M $-13M $-113M $-259M $97M $33M $-31M $-140M · $-51M
Operating Cash Flow 11-point trend, +102.6% $1.56B $1.19B $1.32B $1.50B $1.09B $1.03B $1.21B $1.18B $856M $807M $769M
CapEx 11-point trend, +163.6% $829M $670M $470M $824M $605M $421M $400M $551M $343M $274M $314M
Investing Cash Flow 11-point trend, -763.1% $-2.57B $-278M $-875M $-834M $-794M $-426M $-547M $-608M $-609M $-770M $-298M
Debt Issued 9-point trend, +0.00 · $0 $397M $0 $690M $0 $889M · $998M $385M $0
Net Debt Issued 7-point trend, +0.00 · $0 $397M $0 $690M · $896M · $998M · $0
Stock Repurchased 9-point trend, -1.1% $153M $0 $42M $523M $193M $0 $0 · · $100M $155M
Net Stock Activity 6-point trend, +1.1% $-153M $0 $-42M $-523M $-193M · · · · · $-155M
Dividends Paid 11-point trend, +123.9% $450M $449M $449M $420M $380M $300M $299M $268M $238M $216M $201M
Financing Cash Flow 11-point trend, +309.0% $859M $-876M $-112M $-960M $-656M $-312M $-343M $-427M $-269M $18M $-411M
Net Change in Cash 11-point trend, -363.1% $-156M $37M $328M $-299M $-356M $295M $318M $145M $-22M $55M $59M
Taxes Paid 3-point trend, -17.9% $174M $269M $212M · · · · · · · ·
Free Cash Flow 10-point trend, +62.6% $729M $522M $845M $671M $489M $612M $808M $629M $513M · $448M
Profitability 8
Annual Profitability data for PKG
Metric Trend 20252024202320222021202020192018201720162015
Gross Margin 10-point trend, -0.1% 21.0% 21.3% 21.8% 24.7% 24.2% 20.6% 23.6% 23.5% 22.8% · 21.0%
Operating Margin 10-point trend, -5.7% 12.3% 13.1% 13.8% 16.8% 16.1% 10.9% 15.1% 15.2% 14.4% · 13.1%
Net Margin 10-point trend, +13.1% 8.6% 9.6% 9.8% 12.2% 10.9% 6.9% 10.0% 10.5% 10.4% · 7.6%
Pretax Margin 10-point trend, -1.2% 11.4% 12.7% 13.0% 16.1% 14.3% 9.5% 13.2% 13.8% 12.9% · 11.6%
EBITDA Margin 10-point trend, +1.6% 19.6% 19.4% 20.4% 22.1% 21.5% 17.0% 20.7% 21.1% 20.5% · 19.3%
ROA 10-point trend, -4.5% 7.9% 9.2% 9.2% 13.0% 11.0% 6.3% 10.1% 11.6% 11.2% · 8.3%
ROE 10-point trend, -37.9% 17.2% 19.2% 20.0% 28.3% 24.6% 14.6% 24.2% 30.4% 33.9% · 27.7%
ROIC 10-point trend, -22.2% 9.7% 12.1% 11.8% 17.5% 15.5% 9.2% 14.4% 15.8% 15.6% · 12.5%
Liquidity & Solvency 4
Annual Liquidity & Solvency data for PKG
Metric Trend 20252024202320222021202020192018201720162015
Current Ratio 10-point trend, +14.4% 3.2 3.2 2.6 2.9 3.1 3.5 3.4 3.0 2.3 · 2.8
Quick Ratio 10-point trend, +20.4% 1.8 1.8 1.3 1.5 1.9 2.3 2.1 1.8 1.3 · 1.5
Debt / Equity 10-point trend, -39.0% 0.9 0.6 0.7 0.7 0.7 0.8 0.8 0.9 1.2 · 1.4
LT Debt / Equity 10-point trend, -38.8% 0.9 0.6 0.6 0.7 0.7 0.8 0.8 0.9 1.1 · 1.4
Efficiency 3
Annual Efficiency data for PKG
Metric Trend 20252024202320222021202020192018201720162015
Asset Turnover 10-point trend, -15.6% 0.9 1.0 0.9 1.1 1.0 0.9 1.0 1.1 1.1 · 1.1
Inventory Turnover 10-point trend, -11.3% 6.0 6.2 6.1 6.8 6.9 6.7 6.7 6.9 6.7 · 6.8
Receivables Turnover 10-point trend, -16.3% 7.5 7.7 7.6 8.1 8.1 7.9 8.0 8.1 8.5 · 9.0
Per Share 4
Annual Per Share data for PKG
Metric Trend 20252024202320222021202020192018201720162015
Revenue / Share 10-point trend, +69.0% $100.33 $93.67 $87.18 $91.46 $81.80 $70.53 $74.01 $74.70 $68.78 · $59.38
Cash Flow / Share 10-point trend, +120.4% $17.38 $13.31 $14.69 $16.13 $11.58 $10.94 $12.83 $12.57 $9.14 · $7.89
Dividend / Share 11-point trend, +127.3% $5 $5 $5 $5 $4 $3 $3 $3 $3 $2 $2
EPS (TTM) 10-point trend, +91.9% $8.58 $8.93 $8.48 $11.03 $8.83 $4.84 $7.34 $7.80 $7.07 · $4.47
Growth Rates 10
Annual Growth Rates data for PKG
Metric Trend 20252024202320222021202020192018201720162015
Revenue YoY 5-point trend, -55.1% 7.2% 7.4% -8.0% 9.7% 16.1% · · · · · ·
Revenue CAGR 3Y 3-point trend, -63.7% 2.0% 2.7% 5.4% · · · · · · · ·
Revenue CAGR 5Y 6.2% · · · · · · · · · ·
EPS YoY 5-point trend, -104.8% -3.9% 5.3% -23.1% 24.9% 82.4% · · · · · ·
EPS CAGR 3Y 3-point trend, -139.1% -8.0% 0.38% 20.5% · · · · · · · ·
EPS CAGR 5Y 12.1% · · · · · · · · · ·
Net Income YoY 5-point trend, -104.7% -3.9% 5.2% -25.7% 22.4% 82.5% · · · · · ·
Net Income CAGR 3Y 3-point trend, -149.3% -9.1% -1.5% 18.4% · · · · · · · ·
Net Income CAGR 5Y 10.9% · · · · · · · · · ·
Dividend CAGR 5Y 8.5% · · · · · · · · · ·
Valuation (TTM) 6
Annual Valuation (TTM) data for PKG
Metric Trend 20252024202320222021202020192018201720162015
Revenue TTM 10-point trend, +56.6% $8.99B $8.38B $7.80B $8.48B $7.73B $6.66B $6.96B $7.01B $6.44B · $5.74B
Net Income TTM 10-point trend, +77.2% $774M $805M $765M $1.03B $841M $461M $696M $738M $669M · $437M
P/E 10-point trend, +70.4% 24.0 25.2 19.2 11.6 15.4 28.5 15.3 10.7 17.1 · 14.1
Earnings Yield 10-point trend, -41.3% 4.2% 4.0% 5.2% 8.6% 6.5% 3.5% 6.6% 9.3% 5.9% · 7.1%
Payout Ratio 10-point trend, +26.3% 58.1% 55.7% 58.7% 40.8% 45.2% 65.0% 42.9% 36.3% 35.5% · 46.0%
Annual Payout 10-point trend, +123.9% $450M $449M $449M $420M $380M $300M $299M $268M $238M · $201M

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

Income Statement
2025-12-312025-06-302025-03-312024-12-312024-09-30
Revenue $8.99B$8.38B
Gross Margin % 21.0%21.3%
Operating Margin % 12.3%13.1%
Net Income $774M$805M
Diluted EPS $8.58$8.93
Balance Sheet
2025-12-312025-06-302025-03-312024-12-312024-09-30
Debt / Equity 0.90.6
Current Ratio 3.23.2
Quick Ratio 1.81.8
Cash Flow
2025-12-312025-06-302025-03-312024-12-312024-09-30
Free Cash Flow $729M$522M

Latest News Recent headlines mentioning this company

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Institutional owners (13F) 966 filers · $13.9B 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
94 (-24 vs prior Q) 69 (-9 vs prior Q) 331 (+21 vs prior Q) 289 (+5 vs prior Q) +6.6M

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 GROUP INC $2,140,295,980 10,378,199 15.39% Shares
VANGUARD CAPITAL MANAGEMENT LLC $1,382,935,183 5,803,824 9.94% Shares
STATE STREET CORP $1,106,459,203 4,615,464 7.96% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $1,048,452,730 4,400,087 7.54% Shares
FIL Ltd $639,390,068 2,683,356 4.60% Shares
GEODE CAPITAL MANAGEMENT, LLC $523,350,105 2,205,812 3.76% Shares
AMERICAN CENTURY COMPANIES INC $479,258,612 2,011,324 3.45% Shares
VICTORY CAPITAL MANAGEMENT INC $412,219,635 1,729,980 2.96% Shares
MILLENNIUM MANAGEMENT LLC $403,346,087 1,692,740 2.90% Shares
AMERIPRISE FINANCIAL INC $389,521,363 1,634,478 2.80% Shares
Boston Partners $315,108,980 1,322,643 2.27% Shares
DIMENSIONAL FUND ADVISORS LP $277,427,767 1,164,293 1.99% Shares
Select Equity Group, L.P. $267,002,033 1,120,539 1.92% Shares
NORGES BANK $256,908,730 1,078,180 1.85% Shares
FMR LLC $158,153,235 663,728 1.14% Shares
VANGUARD FIDUCIARY TRUST CO $118,549,066 497,520 0.85% Shares
BANK OF AMERICA CORP /DE/ $101,230,399 424,838 0.73% Shares
PRINCIPAL FINANCIAL GROUP INC $95,900,790 402,471 0.69% Shares
WESTFIELD CAPITAL MANAGEMENT CO LP $84,897,019 356,291 0.61% Shares
Atlas FRM LLC $82,530,899 346,361 0.59% Shares
Pictet Asset Management Holding SA $80,225,540 336,686 0.58% Shares
GOLDMAN SACHS GROUP INC $69,759,644 292,763 0.50% Shares
MORGAN STANLEY $69,030,507 289,703 0.50% Shares
Bahl & Gaynor LLC $68,147,603 285,998 0.49% Shares
WESTWOOD HOLDINGS GROUP INC $67,653,231 283,923 0.49% Shares
NEUBERGER BERMAN GROUP LLC $66,444,812 278,852 0.48% Shares
Balyasny Asset Management L.P. $64,861,722 272,208 0.47% Shares
Summit Financial Strategies, Inc. $63,167,790 265,099 0.45% Shares
EARNEST PARTNERS LLC $60,512,874 253,957 0.44% Shares
RAYMOND JAMES FINANCIAL INC $60,109,895 252,266 0.43% Shares
Swiss National Bank $59,832,108 251,100 0.43% Shares
HighTower Advisors, LLC $57,481,857 241,237 0.41% Shares
FIRST TRUST ADVISORS LP $56,830,654 238,505 0.41% Shares
WELLINGTON MANAGEMENT GROUP LLP $56,758,296 238,200 0.41% Shares
SCOPUS ASSET MANAGEMENT, L.P. $55,447,756 232,700 0.40% Shares
Mitsubishi UFJ Asset Management Co., Ltd. $51,360,020 215,545 0.37% Shares
VANGUARD ASSET MANAGEMENT, Ltd $50,808,921 213,232 0.37% Shares
Retirement Systems of Alabama $50,549,911 212,145 0.36% Shares
Sumitomo Mitsui Trust Group, Inc. $50,334,744 211,242 0.36% Shares
ENVESTNET ASSET MANAGEMENT INC $49,698,139 208,575 0.36% Shares
ADAGE CAPITAL PARTNERS GP, L.L.C. $49,614,662 208,220 0.36% Shares
BNP PARIBAS FINANCIAL MARKETS $47,185,159 198,024 0.34% Shares
Vanguard Global Advisers, LLC $45,513,386 191,008 0.33% Shares
RHUMBLINE ADVISERS $44,126,059 185,186 0.32% Shares
CONNING INC. $38,407,639 161,187 0.28% Shares
California Public Employees Retirement System $36,678,440 153,930 0.26% Shares
BlackRock, Inc. $35,997,198 151,071 0.26% Shares
LPL Financial LLC $35,926,252 150,773 0.26% Shares
Cinctive Capital Management LP $34,537,733 144,946 0.25% Shares
Gotham Asset Management, LLC $34,524,151 144,889 0.25% Shares
BARCLAYS PLC $33,315,118 139,815 0.24% Shares
Quantinno Capital Management LP $30,384,313 127,515 0.22% Shares
Legal & General Group Plc $30,352,346 127,381 0.22% Shares
Bank of New York Mellon Corp $28,596,936 120,014 0.21% Shares
WELLS FARGO & COMPANY/MN $26,959,268 113,141 0.19% Shares
Zurich Insurance Group Ltd/FI $26,941,843 113,068 0.19% Shares
FIFTH THIRD BANCORP $25,857,022 108,515 0.19% Shares
STRS OHIO $23,168,679 97,233 0.17% Shares
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM $22,062,603 103,961 0.16% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $21,611,996 90,700 0.16% Call option
Universal- Beteiligungs- und Servicegesellschaft mbH $21,026,612 88,364 0.15% Shares
NOMURA ASSET MANAGEMENT INTERNATIONAL INC. $20,038,000 84,094 0.14% Shares
UBS Group AG $19,968,817 83,804 0.14% Shares
ALLIANCEBERNSTEIN L.P. $19,853,181 93,550 0.14% Shares
PICTON MAHONEY ASSET MANAGEMENT $19,121,022 80,246 0.14% Shares
Jain Global LLC $19,090,040 80,116 0.14% Shares
CITADEL ADVISORS LLC $18,901,561 79,325 0.14% Shares
Tredje AP-fonden $18,850,092 79,109 0.14% Shares
Corient Private Wealth LP $18,833,920 79,041 0.14% Shares
JONES FINANCIAL COMPANIES LLLP $18,281,087 75,682 0.13% Shares
WORLDQUANT MILLENNIUM ADVISORS LLC $18,199,350 76,378 0.13% Shares
LOOMIS SAYLES & CO L P $17,588,650 73,815 0.13% Shares
TWO SIGMA INVESTMENTS, LP $17,031,301 71,476 0.12% Shares
Cannell & Spears LLC $16,421,543 68,917 0.12% Shares
JLB & ASSOCIATES INC $16,183,029 67,916 0.12% Shares
SCHRODER INVESTMENT MANAGEMENT GROUP $16,085,340 67,685 0.12% Shares
STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM $15,959,994 66,980 0.11% Shares
MACKENZIE FINANCIAL CORP $15,449,837 64,839 0.11% Shares
Sound Shore Management Inc /CT/ $14,541,037 61,025 0.10% Shares
STEPHENS INC /AR/ $14,223,314 59,419 0.10% Shares
NATIXIS $14,206,015 59,619 0.10% Shares
LMCG INVESTMENTS, LLC $14,022,540 58,849 0.10% Shares
UniSuper Management Pty Ltd $13,708,010 57,529 0.10% Shares
MANUFACTURERS LIFE INSURANCE COMPANY, THE $12,859,972 53,970 0.09% Shares
Brandywine Global Investment Management, LLC $12,822,763 62,177 0.09% Shares
HFR Wealth Management, LLC $12,696,531 53,284 0.09% Shares
QRG CAPITAL MANAGEMENT, INC. $12,634,571 53,024 0.09% Shares
Leeward Investments, LLC - MA $12,548,880 52,664 0.09% Shares
MML INVESTORS SERVICES, LLC $12,510,994 52,505 0.09% Shares
Teamwork Financial Advisors, LLC $12,372,727 51,926 0.09% Shares
BANQUE PICTET & CIE SA $12,325,748 51,728 0.09% Shares
CITADEL ADVISORS LLC $12,319,076 51,700 0.09% Call option
AVIVA PLC $12,247,592 51,400 0.09% Shares
Cetera Investment Advisers $12,196,885 51,187 0.09% Shares
Susquehanna Portfolio Strategies, LLC $12,143,940 50,965 0.09% Shares
Moran Wealth Management, LLC $12,082,702 50,708 0.09% Shares
BENJAMIN EDWARDS INC $12,082,576 50,697 0.09% Shares
STATE OF WISCONSIN INVESTMENT BOARD $11,949,742 50,150 0.09% Shares
GHP Investment Advisors, Inc. $11,709,992 55,179 0.08% Shares
DIVERSIFY WEALTH MANAGEMENT, LLC $11,640,452 46,125 0.08% Shares

Company insiders 34 insiders · 17 officers · 16 directors

Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Mark W Kowlzan Chairman & CEO May 27, 2026 S 473,610 0 2 $-7,410,713
Kent A. Pflederer EVP & CFO March 27, 2026 F 73,061 0 0 $0
Robert P. Mundy EVP & CFO April 4, 2025 F 44,408 0 0 $0
Richard B West Senior VP & CFO July 23, 2015 S 107,387 0 0 $0
Darla J. Olivier SVP March 27, 2026 F 27,397 0 0 $0
Donald R. Shirley Exec. VP March 27, 2026 F 31,110 0 0 $0
Charles J. Carter EVP-Mill Ops. March 27, 2026 F 50,621 0 0 $0
Heidi L Patton SVP Feb. 25, 2026 A 6,479 0 0 $0
Joseph Vaughn SVP Feb. 25, 2026 A 11,167 0 0 $0
Jeffrey S Kaser SVP March 25, 2024 F 17,398 0 0 $0
Robert Andrew Schneider SVP & CIO March 25, 2024 F 24,351 0 0 $0
Bruce A Ridley SVP March 25, 2024 F 15,618 0 0 $0
Pamela A. Barnes SVP March 25, 2024 F 44,501 0 0 $0
Thomas W.H. Walton SVP July 20, 2021 F 30,362 0 0 $0
Judith M Lassa SVP June 23, 2014 A 4,916 0 0 $0
Stephen T Calhoun VP Human Resources Dec. 12, 2012 M 71,331 0 0 $0
William J Sweeney Executive VP July 24, 2009 S 115,580 0 0 $0
Donna A. Harman Director May 12, 2026 A 5,179 0 0 $0
Duane C Farrington Director May 12, 2026 A 7,243 0 0 $0
Karen E Gowland Director May 12, 2026 A 2,118 0 0 $0
Thomas S Souleles Director May 12, 2026 A 11,202 0 0 $0
Samuel M Mencoff Director May 12, 2026 A 270,194 0 0 $0
Robert C Lyons Director May 12, 2026 A 13,429 0 0 $0
Cheryl K Beebe Director May 12, 2026 A 15,104 0 0 $0
Roger B Porter Director May 12, 2026 A 22,604 0 0 $0
Paul T Stecko Director May 7, 2025 A 9,492 0 0 $0
Thomas P. Maurer Director May 8, 2024 A 8,764 0 0 $0
James D Woodrum Director May 4, 2021 A 8,615 0 0 $0
Hasan Jameel Director May 7, 2019 A 9,339 0 0 $0
Henry F Frigon Director June 6, 2011 S 0 0 0 $0
Louis A Holland Director April 24, 2008 S 12,200 0 0 $0
Rayford K Williamson Director Feb. 20, 2008 A 9,500 0 0 $0
PCA HOLDINGS LLC 10% owner Dec. 21, 2005 S 21,773,010 0 0 $0
Thomas A Hassfurther Aug. 7, 2026 S 202,891 0 4 $-9,983,315

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

ETF ownership Held by 170 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
CUT · Invesco Exchange-Traded Fund Trust … 5.70% 7,067 SH Aug. 19, 2026 Daily
RSPM · Invesco Exchange-Traded Fund Trust 4.33% 32,131 SH Aug. 19, 2026 Daily
FLV · AMERICAN CENTURY ETF TRUST 2.29% 36,869 NS May 31, 2026 N-PORT
QDIV · Global X Funds 1.93% 2,892 NS May 31, 2026 N-PORT
UYM · ProShares Trust 1.73% 3,170 NS May 31, 2026 N-PORT
NRES · DBX ETF Trust 1.59% 2,680 NS May 31, 2026 N-PORT
BKDV · BNY Mellon ETF Trust II 1.46% 94,716 NS April 30, 2026 N-PORT
VAW · VANGUARD WORLD FUND 1.39% 261,229 SH Aug. 19, 2026 Daily
FMAT · FIDELITY COVINGTON TRUST 1.23% 34,773 NS April 30, 2026 N-PORT
EPMB · Harbor ETF Trust 1.23% 259 NS April 30, 2026 N-PORT
SZNE · Pacer Funds Trust 0.98% 615 NS April 30, 2026 N-PORT
DVY · iShares Trust 0.74% 704,851 SH Aug. 19, 2026 Daily
MXI · iShares Trust 0.71% 10,137 SH Aug. 19, 2026 Daily
FXR · First Trust Exchange-Traded AlphaDE… 0.64% 21,062 NS April 30, 2026 N-PORT
AVMV · AMERICAN CENTURY ETF TRUST 0.56% 15,991 NS May 31, 2026 N-PORT
IGE · iShares Trust 0.55% 17,327 SH Aug. 19, 2026 Daily
FTA · First Trust Exchange-Traded AlphaDE… 0.51% 31,061 NS April 30, 2026 N-PORT
QIDX · Spinnaker ETF Series 0.50% 897 NS April 30, 2026 N-PORT
QLV · FlexShares Trust 0.47% 3,731 NS April 30, 2026 N-PORT
VOE · VANGUARD INDEX FUNDS 0.37% 572,343 SH Aug. 19, 2026 Daily
SCHM · SCHWAB STRATEGIC TRUST 0.36% 241,664 NS May 31, 2026 N-PORT
JPME · J.P. Morgan Exchange-Traded Fund Tr… 0.35% 7,138 NS April 30, 2026 N-PORT
AVLV · AMERICAN CENTURY ETF TRUST 0.32% 185,752 NS May 31, 2026 N-PORT
SMMD · iShares Trust 0.29% 43,961 SH Aug. 19, 2026 Daily
JPUS · J.P. Morgan Exchange-Traded Fund Tr… 0.26% 5,329 NS April 30, 2026 N-PORT
IYJ · iShares Trust 0.25% 19,793 SH Aug. 19, 2026 Daily
FAB · First Trust Exchange-Traded AlphaDE… 0.25% 1,643 NS April 30, 2026 N-PORT
FEX · First Trust Exchange-Traded AlphaDE… 0.25% 17,367 NS April 30, 2026 N-PORT
AVMC · AMERICAN CENTURY ETF TRUST 0.23% 4,275 NS May 31, 2026 N-PORT
SIZE · iShares Trust 0.23% 3,995 SH Aug. 19, 2026 Daily
DFLV · Dimensional ETF Trust 0.22% 61,962 NS April 30, 2026 N-PORT
JVAL · J.P. Morgan Exchange-Traded Fund Tr… 0.22% 7,681 NS April 30, 2026 N-PORT
EBI · RBB Fund Trust 0.22% 6,566 NS May 31, 2026 N-PORT
EUSA · iShares, Inc. 0.22% 16,920 SH Aug. 19, 2026 Daily
RSP · Invesco Exchange-Traded Fund Trust 0.22% 860,555 SH Aug. 19, 2026 Daily
IWS · iShares Trust 0.21% 130,269 SH Aug. 19, 2026 Daily
HDUS · Lattice Strategies Trust 0.21% 1,738 NS April 30, 2026 N-PORT
EQIN · Columbia ETF Trust I 0.20% 2,641 NS April 30, 2026 N-PORT
VO · VANGUARD INDEX FUNDS 0.20% 1,930,924 SH Aug. 19, 2026 Daily
ESLV · Strategy Shares 0.20% 108 NS April 30, 2026 N-PORT
GSEW · Goldman Sachs ETF Trust 0.19% 15,187 NS May 31, 2026 N-PORT
ACIO · ETF Series Solutions 0.18% 19,582 NS April 30, 2026 N-PORT
ADME · ETF Series Solutions 0.18% 2,245 NS April 30, 2026 N-PORT
SFGV · EA Series Trust 0.17% 8,892 NS May 29, 2026 N-PORT
FDLO · FIDELITY COVINGTON TRUST 0.17% 11,075 NS April 30, 2026 N-PORT
IMCV · iShares Trust 0.16% 7,695 SH Aug. 19, 2026 Daily
IWR · iShares Trust 0.15% 353,293 SH Aug. 19, 2026 Daily
IMCB · iShares Trust 0.15% 10,312 SH Aug. 19, 2026 Daily
IMCG · iShares Trust 0.14% 22,890 SH Aug. 19, 2026 Daily
DEUS · DBX ETF Trust 0.14% 1,689 NS May 29, 2026 N-PORT