RGA Reinsurance Group of America, Incorporated Common Stock
About Reinsurance Group of America, Incorporated Common Stock Company overview from Wikipedia
Reinsurance Group of America, Incorporated is a holding company for a global life and health reinsurance entity based in Greater St. Louis within the western suburb of Chesterfield, Missouri, United States. With approximately $4.3 trillion of life reinsurance in force and total assets of $156.6 billion as of December 31, 2025, RGA has grown to become the only international company to focus primarily on life and health-related reinsurance.
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Reinsurance Group of America, Incorporated (NYSE: RGA) is a holding company for a global life and health reinsurance entity based in Greater St. Louis within the western suburb of Chesterfield, Missouri, United States. With approximately $4.3 trillion of life reinsurance in force and total assets of $156.6 billion as of December 31, 2025, RGA has grown to become the only international company to focus primarily on life and health-related reinsurance.
History
General American Reinsurance, a reinsurance division formed in 1973 by General American Life Insurance Company (GA), was the forerunner to RGA. By 1993, GA's reinsurance division had grown its life reinsurance in force to $114.7 billion. General American acquired the life reinsurance business of National Reinsurance of Canada, later renamed General American Life Reinsurance Company of Canada, thereby establishing its first international office; the Canadian business became RGA Life Reinsurance Company of Canada after RGA's initial public offering (IPO).
Incorporated in 1992 in the state of Missouri, Reinsurance Group of America, Incorporated (RGA) was formed as a holding company for RGA's U.S. and Canadian reinsurance businesses. RGA was taken public by IPO in 1993 on the New York Stock Exchange (NYSE: RGA), with General American retaining a 65% share.
MetLife acquired General American in 2000, including its interest in RGA, and after 8 years of ownership, MetLife spun RGA off to become a fully independent company.
Rankings and recognition
Ranked #193 on the 2026 Fortune 500 list, moving up 3 positions from its prior-year rank and reaching its highest position to date, RGA also was named to the 2026 Fortune's list of the "World's Most Admired Companies." In 2025, RGA was ranked #1 on NMG Consulting's Global All Respondent Business Capability Index (BCI) for the 15th consecutive year, based on feedback from insurance executives in more than 50 markets. RGA has earned this recognition every year since the inception of NMG's Global Life & Health Reinsurance Study.
Products and services
RGA's products and services include life reinsurance, living benefits reinsurance, group reinsurance, health reinsurance, financial solutions, facultative underwriting, and product development. "CBInsights".
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
RGA Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
RGA Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount |
|---|---|
| May 19, 2026 | $0.9300 |
| Feb. 17, 2026 | $0.9300 |
| Nov. 10, 2025 | $0.9300 |
| Aug. 12, 2025 | $0.9300 |
| May 13, 2025 | $0.8900 |
| Feb. 18, 2025 | $0.8900 |
| Nov. 12, 2024 | $0.8900 |
| Aug. 13, 2024 | $0.8900 |
| May 13, 2024 | $0.8500 |
| Feb. 12, 2024 | $0.8500 |
| Nov. 13, 2023 | $0.8500 |
| Aug. 14, 2023 | $0.8500 |
| May 15, 2023 | $0.8000 |
| Feb. 13, 2023 | $0.8000 |
| Nov. 14, 2022 | $0.8000 |
| Aug. 15, 2022 | $0.8000 |
| May 16, 2022 | $0.7300 |
| Feb. 14, 2022 | $0.7300 |
| Nov. 15, 2021 | $0.7300 |
| Aug. 16, 2021 | $0.7300 |
RGA Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 2 13.3%
- Buy 7 46.7%
- Hold 5 33.3%
- Sell 1 6.7%
- Strong Sell 0 0.0%
12-Month Price Target
9 analysts · 2026-08-18Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $8.89 | $6.58 | 2.3% |
| March 31, 2026 | $6.97 | $6.10 | 0.87% |
| Dec. 31, 2025 | $7.75 | $5.81 | 1.9% |
| Sept. 30, 2025 | $6.37 | $5.85 | 0.52% |
| June 30, 2025 | $4.72 | $5.63 | -0.91% |
| March 31, 2025 | $5.66 | $5.37 | 0.29% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $23.70B | $22.11B | $18.57B | $16.23B | $16.67B | $14.60B | $14.30B | $12.88B | $12.52B | $11.52B | $10.42B | $10.90B | |
| Interest Expense | $366M | $304M | $257M | $191M | $139M | $170M | $173M | $147M | $146M | $138M | $143M | $97M | |
| Pretax Income | $1.54B | $980M | $1.16B | $718M | $1.39B | $553M | $1.13B | $846M | $1.14B | $1.04B | $745M | $1.01B | |
| Income Tax | $351M | $256M | $251M | $197M | $215M | $138M | $262M | $130M | $-679M | $343M | $243M | $324M | |
| Net Income | $1.18B | $717M | $902M | $517M | $1.17B | $415M | $870M | $716M | $1.82B | $701M | $502M | $684M | |
| EPS (Basic) | $17.94 | $10.90 | $13.60 | $7.73 | $17.26 | $6.35 | $13.88 | $11.25 | $28.28 | $10.91 | $7.55 | $9.88 | |
| EPS (Diluted) | $17.69 | $10.73 | $13.44 | $7.64 | $17.13 | $6.31 | $13.62 | $11.00 | $27.71 | $10.79 | $7.46 | $9.78 | |
| Shares (Basic) | 65,900,000 | 65,800,000 | 66,300,000 | 66,900,000 | 67,800,000 | 65,400,000 | 62,700,000 | 63,700,000 | 64,427,000 | 64,274,000 | 66,553,000 | 69,248,000 | |
| Shares (Diluted) | 66,800,000 | 66,900,000 | 67,100,000 | 67,700,000 | 68,300,000 | 65,800,000 | 63,900,000 | 65,100,000 | 65,753,000 | 64,989,000 | 67,292,000 | 69,962,000 | |
| EBITDA | $43M | $46M | $41M | $38M | $43M | $49M | $49M | $45M | $53M | $27M | · | · |
Balance Sheet 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $4.17B | $3.33B | $2.97B | $2.93B | $2.93B | $2.95B | $3.41B | $1.45B | $1.30B | $1.20B | $1.53B | $1.65B | |
| PP&E (Gross) | $350M | $325M | $279M | $270M | $270M | $260M | $244M | $249M | $236M | $222M | $220M | $223M | |
| Accum. Depreciation | · | · | · | $136M | $131M | $116M | $99M | $97M | $79M | $61M | $49M | $38M | |
| Goodwill | · | · | · | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | |
| Total Assets | $156.59B | $118.67B | $97.62B | $84.90B | $92.94B | $84.66B | $76.73B | $64.53B | $60.51B | $53.10B | $50.38B | $44.65B | |
| Short-term Debt | · | · | · | · | · | · | · | · | · | · | $0 | · | |
| Total Liabilities | $143.04B | $107.77B | $88.45B | $77.73B | $79.16B | $70.30B | $65.13B | $56.09B | $50.95B | $46.00B | $44.25B | $37.63B | |
| Long-term Debt | $5.71B | $5.04B | $4.43B | $3.96B | $3.67B | $3.57B | $2.98B | $2.79B | $2.79B | $3.09B | $2.30B | $2.30B | |
| Common Stock | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $791.0K | $791.0K | $791.0K | $791.0K | |
| Retained Earnings | $10.15B | $9.26B | $8.80B | $8.17B | $8.56B | $8.15B | $7.95B | $7.29B | $6.74B | $5.20B | $4.62B | $4.24B | |
| Treasury Stock | $2.01B | $1.89B | $1.90B | $1.72B | $1.65B | $1.56B | $1.43B | $1.37B | $1.10B | $1.09B | $1.01B | $672M | |
| AOCI | $2.68B | $849M | $-369M | $-1.87B | $-500M | $-909M | $3.14B | $636M | $2.06B | $1.14B | $708M | $1.66B | |
| Stockholders' Equity | $13.46B | $10.82B | $9.08B | $7.08B | $8.18B | $14.35B | $11.60B | $8.45B | $9.57B | $7.09B | $6.14B | $7.02B | |
| Liabilities + Equity | $156.59B | $118.67B | $97.62B | $84.90B | $92.17B | $84.66B | $76.73B | $64.53B | $60.51B | $53.10B | $50.38B | $44.65B | |
| Shares Outstanding | · | · | · | · | · | · | 62,656,102 | 62,814,368 | 64,452,095 | 64,302,502 | 65,204,526 | 68,772,961 |
Cash Flow 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $43M | $46M | $41M | $38M | $43M | $49M | $49M | $45M | $53M | $27M | $31M | $15M | |
| Deferred Tax | $340M | $-61M | $211M | $67M | $53M | $-16M | $211M | $77M | $-847M | $294M | $149M | $171M | |
| Other Non-cash | $2.53B | $8.67B | $2.89B | $607M | $3.61B | $2.87B | $1.18B | $744M | $955M | $444M | · | · | |
| Operating Cash Flow | $4.09B | $9.37B | $4.04B | $1.34B | $4.18B | $3.32B | $2.31B | $1.58B | $1.98B | $1.47B | $2.09B | $2.34B | |
| CapEx | · | · | · | $25M | $19M | $28M | $34M | $29M | $44M | $45M | $24M | $88M | |
| Investing Cash Flow | $-12.09B | $-12.54B | $-4.07B | $-5.69B | $-4.63B | $-2.68B | $-2.64B | $-637M | $-1.61B | $-2.83B | $-1.43B | $-1.31B | |
| Debt Issued | $691M | $640M | $890M | $690M | $494M | $598M | $599M | $0 | $0 | $800M | $0 | $100M | |
| Net Debt Issued | $691M | $640M | $890M | $700M | $500M | $598M | $599M | $0 | $0 | $800M | $0 | $100M | |
| Stock Issued | · | · | · | $0 | $0 | $481M | $0 | $0 | · | · | · | · | |
| Net Stock Activity | · | · | · | $0 | $0 | $481M | · | · | · | · | · | · | |
| Dividends Paid | $240M | $229M | $219M | $205M | $194M | $182M | $163M | $140M | $117M | $100M | $93M | $87M | |
| Financing Cash Flow | $8.80B | $3.66B | $78M | $4.44B | $20M | $1.25B | $-121M | $-322M | $-324M | $1.06B | $-708M | $-256M | |
| Net Change in Cash | $842M | $356M | $43M | $-21M | $-460M | $1.96B | $-441M | $586M | $103M | $-325M | $-120M | $722M | |
| Taxes Paid | $252M | $78M | $298M | $129M | $368M | $108M | $44M | $142M | $37M | $61M | $42M | $70M | |
| Free Cash Flow | · | · | · | $1.32B | $4.16B | $3.29B | $2.27B | $1.55B | $1.94B | $1.42B | $2.07B | $2.25B | |
| Levered FCF | · | · | · | $1.18B | $4.05B | $3.17B | $2.14B | $1.43B | $1.71B | $1.33B | $1.97B | $2.18B |
Profitability 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 5.0% | 3.2% | 4.9% | 3.8% | 3.7% | 2.8% | 6.1% | 5.6% | 14.6% | 6.1% | 4.8% | 6.3% | |
| Pretax Margin | 6.5% | 4.4% | 6.2% | 5.1% | 4.2% | 3.8% | 7.9% | 6.6% | 9.1% | 9.1% | 7.1% | 9.2% | |
| EBITDA Margin | 0.18% | 0.21% | 0.22% | 0.23% | 0.26% | 0.34% | 0.34% | 0.35% | 0.42% | 0.23% | · | · | |
| ROA | 0.86% | 0.66% | 0.99% | 0.70% | 0.70% | 0.51% | 1.2% | 1.1% | 3.2% | 1.4% | 1.1% | 1.6% | |
| ROE | 9.3% | 6.5% | 10.5% | 11.4% | 4.8% | 3.0% | 7.5% | 8.4% | 21.9% | 10.6% | 7.6% | 10.6% |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.3 |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 7.2% | 19.1% | 14.4% | -2.6% | 14.2% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 13.5% | 9.9% | 8.3% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 10.2% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 64.9% | -20.2% | 75.9% | -55.4% | 171.5% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 32.3% | -14.4% | 28.7% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 22.9% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 64.8% | -20.5% | 74.5% | -55.8% | 181.9% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 31.7% | -15.1% | 29.5% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 23.3% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 5.7% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $23.70B | $22.11B | $18.57B | $16.23B | $16.67B | $14.60B | $14.30B | $12.88B | $12.52B | $11.52B | $10.42B | $10.90B | |
| Net Income TTM | $1.18B | $717M | $902M | $517M | $1.17B | $415M | $870M | $716M | $1.82B | $701M | $502M | $684M | |
| Market Cap | · | · | · | · | · | · | $10.22B | $8.81B | $10.05B | $8.09B | $5.58B | $6.03B | |
| P/E | 11.5 | 19.9 | 12.0 | 18.6 | 6.4 | 18.4 | 12.0 | 12.7 | 5.6 | 11.7 | 11.5 | 9.0 | |
| P/S | · | · | · | · | · | · | 0.7 | 0.7 | 0.8 | 0.7 | 0.5 | 0.6 | |
| P/B | · | · | · | · | · | · | 0.9 | 1.0 | 1.1 | 1.1 | 0.9 | 0.9 | |
| P / Cash Flow | · | · | · | · | · | · | 4.4 | 5.6 | 5.1 | 5.5 | 2.7 | 2.6 | |
| P / FCF | · | · | · | · | · | · | 4.5 | 5.7 | 5.2 | 5.7 | 2.7 | 2.7 | |
| Dividend Yield | · | · | · | · | · | · | 1.6% | 1.6% | 1.2% | 1.2% | 1.7% | 1.5% | |
| Earnings Yield | 8.7% | 5.0% | 8.3% | 5.4% | 15.7% | 5.4% | 8.3% | 7.8% | 17.8% | 8.6% | 8.7% | 11.2% | |
| Payout Ratio | 20.3% | 31.9% | 24.3% | 32.9% | 31.4% | 43.9% | 18.7% | 19.6% | 6.4% | 14.3% | 18.6% | 12.8% | |
| Annual Payout | $240M | $229M | $219M | $205M | $194M | $182M | $163M | $140M | $117M | $100M | $93M | $87M |
Income Statement 9
| Metric | Trend | 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 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.49B | $6.63B | $6.20B | $5.60B | $5.26B | $5.24B | $5.65B | $4.88B | $6.34B | $5.01B | $5.15B | $4.16B | $4.25B | $4.36B | $4.05B | $3.90B | |
| Interest Expense | $99M | $98M | $98M | $90M | $80M | $86M | $78M | $72M | $68M | $69M | $72M | $63M | $53M | $56M | $49M | $44M | |
| Pretax Income | $441M | $510M | $320M | $341M | $369M | $225M | $214M | $269M | $272M | $164M | $380M | $265M | $351M | $381M | $-77M | $147M | |
| Income Tax | $110M | $45M | $65M | $160M | $81M | $75M | $56M | $65M | $60M | $4M | $91M | $58M | $98M | $88M | $-2M | $41M | |
| Net Income | $330M | $463M | $253M | $180M | $286M | $148M | $156M | $203M | $210M | $158M | $287M | $205M | $252M | $291M | $-76M | $105M | |
| EPS (Basic) | $5.04 | $7.07 | $3.85 | $2.72 | $4.33 | $2.26 | $2.37 | $3.07 | $3.20 | $2.40 | $4.34 | $3.09 | $3.77 | $4.36 | $-1.13 | $1.57 | |
| EPS (Diluted) | $4.98 | $6.97 | $3.81 | $2.70 | $4.27 | $2.22 | $2.33 | $3.03 | $3.16 | $2.38 | $4.29 | $3.05 | $3.72 | $4.31 | $-1.13 | $1.55 | |
| Shares (Basic) | 65,000,000 | -132,100,000 | 66,000,000 | 66,000,000 | 66,000,000 | -132,200,000 | 66,000,000 | 66,000,000 | 66,000,000 | -133,700,000 | 66,000,000 | 67,000,000 | 67,000,000 | -134,100,000 | 67,000,000 | 67,000,000 | |
| Shares (Diluted) | 66,000,000 | -134,200,000 | 67,000,000 | 67,000,000 | 67,000,000 | -134,100,000 | 67,000,000 | 67,000,000 | 67,000,000 | -135,900,000 | 67,000,000 | 68,000,000 | 68,000,000 | -136,300,000 | 68,000,000 | 68,000,000 |
Balance Sheet 11
| Metric | Trend | 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 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $4.99B | $4.17B | $4.62B | $5.42B | $5.15B | $3.33B | $5.20B | $4.60B | $5.93B | $2.97B | $2.82B | $2.60B | $3.29B | $2.93B | $3.51B | $2.56B | |
| PP&E (Gross) | · | $350M | · | · | · | $325M | · | · | · | · | · | · | · | · | · | · | |
| Total Assets | $164.06B | $156.59B | $152.00B | $133.48B | $128.21B | $118.67B | $120.26B | $109.89B | $106.00B | · | $87.42B | $89.04B | $89.12B | $84.90B | $82.70B | $84.61B | |
| Total Liabilities | $150.68B | $143.04B | $138.94B | $121.34B | $116.72B | $107.77B | $109.04B | $100.06B | $96.44B | · | $79.27B | $81.14B | $81.40B | · | $78.96B | $78.68B | |
| Long-term Debt | $6.11B | $5.71B | $5.73B | $5.73B | $5.73B | $5.04B | $5.07B | $5.07B | $4.43B | · | $4.45B | $4.85B | $4.46B | · | $4.21B | $3.67B | |
| Common Stock | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | · | $1M | $1M | $1M | · | $1M | $1M | |
| Retained Earnings | $10.38B | $10.15B | $9.76B | $9.56B | $9.44B | $9.26B | $9.17B | $9.08B | $8.93B | · | $8.71B | $8.48B | $8.34B | · | $8.82B | $8.59B | |
| Treasury Stock | $2.06B | $2.01B | $1.96B | $1.89B | $1.89B | $1.89B | $1.89B | $1.89B | $1.89B | · | $1.85B | $1.80B | $1.76B | · | $1.70B | $1.67B | |
| AOCI | $2.31B | $2.68B | $2.55B | $1.75B | $1.24B | $849M | $1.27B | $-20M | $-125M | $-369M | $-1.33B | $-1.40B | $-1.46B | $-1.87B | $-5.96B | $-3.56B | |
| Stockholders' Equity | $13.29B | $13.46B | $12.98B | $12.05B | $11.40B | $10.82B | $11.13B | $9.73B | $9.47B | $9.08B | $8.06B | $7.80B | $7.63B | $7.08B | $3.65B | $5.84B | |
| Liabilities + Equity | $164.06B | $156.59B | $152.00B | $133.48B | $128.21B | $118.67B | $120.26B | $109.89B | $106.00B | · | $87.42B | $89.04B | $89.12B | · | $82.70B | $84.61B |
Cash Flow 12
| Metric | Trend | 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 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-2.87B | $7.33B | $-990M | $-820M | $-1.43B | $17.14B | $-1.07B | $-967M | $-5.74B | $6.86B | $-1.00B | $-244M | $-1.57B | $2.42B | $-1.32B | $-405M | |
| CapEx | · | · | · | · | · | · | · | · | · | · | $8M | $7M | $5M | · | $7M | $6M | |
| Investing Cash Flow | $-3.70B | $-3.27B | $-5.95B | $-1.18B | $-1.70B | $-4.16B | $-1.21B | $-3.46B | $-3.72B | $-1.47B | $-104M | $-783M | $-1.71B | $-893M | $-1.58B | $-976M | |
| Debt Issued | $395M | $0 | $0 | $0 | $691M | $0 | $0 | $640M | $0 | $0 | $-10M | $390M | $494M | $-10M | $700M | $0 | |
| Net Debt Issued | $395M | · | · | · | $691M | · | · | · | $0 | · | · | · | $500M | · | · | · | |
| Stock Repurchased | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | |
| Dividends Paid | $61M | $61M | $61M | $59M | $59M | $58M | $59M | $56M | $56M | $56M | $56M | $54M | $53M | $53M | $54M | $49M | |
| Financing Cash Flow | $1.67B | $1.99B | $4.21B | $540M | $2.07B | $797M | $639M | $1.22B | $1.00B | $349M | $-639M | $-129M | $497M | $-25M | $1.78B | $831M | |
| Net Change in Cash | $825M | $-457M | $-791M | $265M | $1.82B | $-1.87B | $599M | $-1.34B | $2.96B | $150M | $222M | $-696M | $367M | $-585M | $956M | $-153M | |
| Taxes Paid | $37M | $68M | $77M | $44M | $63M | $28M | $9M | $25M | $16M | $58M | $79M | $132M | $29M | $21M | $-11M | $38M | |
| Free Cash Flow | · | · | · | · | · | · | · | · | · | · | · | · | $-1.58B | · | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | · | · | · | $-1.62B | · | · | · |
Profitability 4
| Metric | Trend | 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 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 5.1% | · | 4.1% | 3.2% | 5.4% | · | 2.8% | 4.2% | 3.3% | · | 5.6% | 4.9% | 5.9% | · | 7.0% | 5.1% | |
| Pretax Margin | 6.8% | · | 5.2% | 6.1% | 7.0% | · | 3.8% | 5.5% | 4.3% | · | 7.4% | 6.4% | 8.3% | · | 9.0% | 6.5% | |
| ROA | 0.23% | · | 0.19% | 0.15% | 0.24% | · | 0.15% | 0.20% | 0.22% | · | 0.34% | 0.24% | 0.28% | · | 0.33% | 0.23% | |
| ROE | 2.7% | · | 2.1% | 1.7% | 2.7% | · | 1.6% | 2.3% | 2.5% | · | 4.9% | 3.0% | 3.0% | · | 3.4% | 2.1% |
Efficiency 1
| Metric | Trend | 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 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.1 | 0.0 | 0.1 | · | 0.1 | 0.0 | 0.0 | · | 0.0 | 0.0 |
Valuation (TTM) 5
| Metric | Trend | 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 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $24.93B | · | $22.30B | $21.75B | $21.03B | · | $21.87B | $21.38B | $20.65B | · | $17.92B | $16.81B | $16.56B | · | $16.23B | $16.22B | |
| Net Income TTM | $1.05B | · | $875M | $825M | $855M | · | $856M | $905M | $954M | · | $668M | $486M | $478M | · | $382M | $436M | |
| P/E | 11.1 | · | 14.8 | 17.2 | 16.6 | · | 20.0 | 16.0 | 15.0 | · | 9.5 | 14.0 | 15.7 | · | 22.3 | 18.2 | |
| Earnings Yield | 9.0% | · | 6.8% | 5.8% | 6.0% | · | 5.0% | 6.3% | 6.7% | · | 10.6% | 7.2% | 6.4% | · | 4.5% | 5.5% | |
| Payout Ratio | 18.5% | · | · | · | 20.6% | · | · | · | 26.7% | · | · | · | 21.0% | · | · | · |
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 | $23.70B | $22.11B | $18.57B | $16.23B | $16.67B |
| Net Income | $1.18B | $717M | $902M | $517M | $1.17B |
| Diluted EPS | $17.69 | $10.73 | $13.44 | $7.64 | $17.13 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | — | — | — | $1.32B | $4.16B |
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Institutional owners (13F) 673 filers · $8.5B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 72 (-5 vs prior Q) | 45 (-9 vs prior Q) | 211 (-27 vs prior Q) | 214 (+20 vs prior Q) | +7.2M |
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 |
|---|---|---|---|---|
| FMR LLC | $928,845,245 | 4,367,953 | 10.99% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $742,858,538 | 3,493,339 | 8.79% | Shares |
| WCM INVESTMENT MANAGEMENT, LLC | $646,024,095 | 3,007,001 | 7.64% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $629,725,123 | 2,961,322 | 7.45% | Shares |
| STATE STREET CORP | $501,519,927 | 2,358,429 | 5.93% | Shares |
| EARNEST PARTNERS LLC | $471,911,391 | 2,219,193 | 5.58% | Shares |
| AMERICAN CENTURY COMPANIES INC | $323,566,970 | 1,521,592 | 3.83% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $245,829,453 | 1,155,720 | 2.91% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $216,647,389 | 1,018,799 | 2.56% | Shares |
| NORGES BANK | $181,021,290 | 851,264 | 2.14% | Shares |
| Bahl & Gaynor LLC | $156,885,089 | 737,762 | 1.86% | Shares |
| CITADEL ADVISORS LLC | $120,724,382 | 567,714 | 1.43% | Shares |
| Harding Loevner LP | $116,429,307 | 547,439 | 1.38% | Shares |
| Douglas Lane & Associates, LLC | $112,027,416 | 526,816 | 1.33% | Shares |
| Ensign Peak Advisors, Inc | $109,323,152 | 514,099 | 1.29% | Shares |
| Polar Capital Holdings Plc | $105,267,066 | 495,025 | 1.25% | Shares |
| SCHRODER INVESTMENT MANAGEMENT GROUP | $99,103,114 | 461,288 | 1.17% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $94,337,282 | 443,627 | 1.12% | Shares |
| Freestone Grove Partners LP | $89,183,071 | 419,389 | 1.06% | Shares |
| AMERIPRISE FINANCIAL INC | $88,235,290 | 414,932 | 1.04% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $87,994,995 | 413,802 | 1.04% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $87,109,544 | 409,638 | 1.03% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $77,310,821 | 363,559 | 0.91% | Shares |
| Khrom Capital Management LLC | $73,865,891 | 347,359 | 0.87% | Shares |
| Point72 Asset Management, L.P. | $73,156,916 | 344,025 | 0.87% | Shares |
| SEB Asset Management AB | $67,969,189 | 319,630 | 0.80% | Shares |
| Qube Research & Technologies Ltd | $65,505,131 | 308,042 | 0.78% | Shares |
| Prana Capital Management, LP | $64,301,745 | 302,383 | 0.76% | Shares |
| Rockefeller Capital Management L.P. | $63,957,159 | 300,762 | 0.76% | Shares |
| BlackRock, Inc. | $51,224,833 | 240,888 | 0.61% | Shares |
| NORDEA INVESTMENT MANAGEMENT AB | $47,218,286 | 220,214 | 0.56% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $45,260,567 | 210,240 | 0.54% | Shares |
| Quantinno Capital Management LP | $44,002,413 | 206,924 | 0.52% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $42,530,000 | 200,000 | 0.50% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $40,336,000 | 189,683 | 0.48% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $39,451,253 | 185,522 | 0.47% | Shares |
| ALLIANCEBERNSTEIN L.P. | $38,060,732 | 186,426 | 0.45% | Shares |
| RHUMBLINE ADVISERS | $37,423,581 | 175,987 | 0.44% | Shares |
| Retirement Systems of Alabama | $36,567,081 | 171,959 | 0.43% | Shares |
| Gotham Asset Management, LLC | $31,895,374 | 149,990 | 0.38% | Shares |
| LOOMIS SAYLES & CO L P | $29,928,233 | 140,739 | 0.35% | Shares |
| Swiss National Bank | $27,963,475 | 131,500 | 0.33% | Shares |
| ProShare Advisors LLC | $27,168,802 | 127,763 | 0.32% | Shares |
| California Public Employees Retirement System | $27,076,937 | 127,331 | 0.32% | Shares |
| Bridgewater Associates, LP | $26,882,150 | 126,415 | 0.32% | Shares |
| SEI INVESTMENTS CO | $25,644,950 | 120,597 | 0.30% | Shares |
| BANK OF AMERICA CORP /DE/ | $24,600,628 | 115,686 | 0.29% | Shares |
| BLAIR WILLIAM & CO/IL | $24,180,271 | 113,709 | 0.29% | Shares |
| Schonfeld Strategic Advisors LLC | $24,138,752 | 113,514 | 0.29% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $22,460,306 | 105,621 | 0.27% | Shares |
| Corient Private Wealth LP | $21,793,864 | 102,487 | 0.26% | Shares |
| GOLDMAN SACHS GROUP INC | $20,191,882 | 94,954 | 0.24% | Shares |
| RAYMOND JAMES FINANCIAL INC | $19,889,222 | 93,530 | 0.24% | Shares |
| Interval Partners, LP | $19,754,760 | 92,898 | 0.23% | Shares |
| Lighthouse Investment Partners, LLC | $19,535,442 | 91,866 | 0.23% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $16,934,604 | 79,636 | 0.20% | Shares |
| D. E. Shaw & Co., Inc. | $16,698,129 | 78,524 | 0.20% | Shares |
| Point72 Europe (London) LLP | $16,116,249 | 83,882 | 0.19% | Shares |
| HARRIS ASSOCIATES L P | $15,592,561 | 73,325 | 0.18% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $15,420,613 | 75,532 | 0.18% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $14,379,393 | 67,620 | 0.17% | Shares |
| CIBC Asset Management Inc | $14,303,052 | 67,261 | 0.17% | Shares |
| Leeward Investments, LLC - MA | $13,744,455 | 64,634 | 0.16% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $13,382,702 | 62,933 | 0.16% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $13,055,434 | 61,394 | 0.15% | Shares |
| FIFTH THIRD BANCORP | $12,434,552 | 58,475 | 0.15% | Shares |
| MILLENNIUM MANAGEMENT LLC | $12,066,612 | 56,744 | 0.14% | Shares |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC | $11,619,834 | 54,643 | 0.14% | Shares |
| Balyasny Asset Management L.P. | $11,616,006 | 54,625 | 0.14% | Shares |
| Legal & General Group Plc | $11,575,816 | 54,436 | 0.14% | Shares |
| MOSAIC FAMILY WEALTH PARTNERS, LLC | $11,393,204 | 53,266 | 0.13% | Shares |
| BURNEY CO/ | $11,363,770 | 53,439 | 0.13% | Shares |
| Horizon Investments, LLC | $10,941,480 | 51,453 | 0.13% | Shares |
| ALGERT GLOBAL LLC | $10,341,169 | 48,630 | 0.12% | Shares |
| Robeco Institutional Asset Management B.V. | $10,160,204 | 47,779 | 0.12% | Shares |
| Mariner, LLC | $9,971,814 | 46,893 | 0.12% | Shares |
| Cubist Systematic Strategies, LLC | $9,876,443 | 51,405 | 0.12% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $9,669,621 | 45,472 | 0.11% | Shares |
| TEACHER RETIREMENT SYSTEM OF TEXAS | $9,558,617 | 44,950 | 0.11% | Shares |
| Nuveen Asset Management, LLC | $9,468,722 | 44,323 | 0.11% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $9,204,555 | 43,285 | 0.11% | Shares |
| SEGALL BRYANT & HAMILL, LLC | $8,971,775 | 42,190 | 0.11% | Shares |
| Squarepoint Ops LLC | $8,970,640 | 42,185 | 0.11% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $8,962,775 | 42,148 | 0.11% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $8,834,544 | 41,545 | 0.10% | Shares |
| MORGAN STANLEY | $8,665,700 | 40,751 | 0.10% | Shares |
| UBS Group AG | $8,603,394 | 40,458 | 0.10% | Shares |
| APG Asset Management N.V. | $8,483,680 | 45,612 | 0.10% | Shares |
| WELLS FARGO & COMPANY/MN | $8,239,736 | 38,748 | 0.10% | Shares |
| STIFEL FINANCIAL CORP | $8,139,359 | 38,275 | 0.10% | Shares |
| IEQ CAPITAL, LLC | $8,112,509 | 38,150 | 0.10% | Shares |
| LPL Financial LLC | $8,078,419 | 37,989 | 0.10% | Shares |
| Vest Financial, LLC | $7,736,420 | 36,381 | 0.09% | Shares |
| Vanguard Global Advisers, LLC | $7,467,630 | 35,117 | 0.09% | Shares |
| MML INVESTORS SERVICES, LLC | $7,273,707 | 34,205 | 0.09% | Shares |
| Triveni Capital Investments LP | $7,240,520 | 34,049 | 0.09% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $6,943,482 | 34,010 | 0.08% | Shares |
| Martin Capital Partners, LLC | $6,923,879 | 32,560 | 0.08% | Shares |
| Edgestream Partners, L.P. | $6,917,930 | 32,532 | 0.08% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $6,872,423 | 32,318 | 0.08% | Shares |
Company insiders 58 insiders · 18 officers · 17 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Tony Kin Shun Cheng | President and CEO | March 14, 2025 F | 30,369 | 0 | 0 | $0 |
| Alka Gautam | EVP, Pres & CEO, RGA Canada | March 9, 2023 A | 12,774 | 0 | 0 | $0 |
| Anna Manning | President, CEO | Feb. 17, 2023 F | 86,271 | 0 | 0 | $0 |
| Axel Andre | EVP, Chief Financial Officer | March 6, 2025 A | 462 | 0 | 0 | $0 |
| Todd C Larson | SEVP, Chief Financial Officer | March 15, 2024 A | 48,437 | 0 | 0 | $0 |
| My Chi To | EVP, CLO & Corp. Secretary | June 6, 2025 A | — | 0 | 0 | $0 |
| Arthur Ozeki | EVP, Head of Asia Pacific | March 14, 2025 A | 9,386 | 0 | 0 | $0 |
| Simon Wainwright | EVP, Head of EMEA | March 14, 2025 F | 11,567 | 0 | 0 | $0 |
| Raymond Kleeman | EVP, Chief HR Officer | March 14, 2025 F | 6,605 | 0 | 0 | $0 |
| Ronald Herrmann | EVP | March 14, 2025 F | 8,933 | 0 | 0 | $0 |
| Leslie Barbi | EVP, Chief Investment Officer | March 14, 2025 F | 13,957 | 0 | 0 | $0 |
| Jonathan Porter | EVP, Global Chief Risk Officer | March 14, 2025 F | 10,666 | 0 | 0 | $0 |
| John W. Hayden | EVP, Controller | March 14, 2025 F | 18,932 | 0 | 0 | $0 |
| William L Hutton | EVP, General Counsel & Secy. | March 14, 2025 F | 15,465 | 0 | 0 | $0 |
| Mark J Brooks | EVP, CIO | March 6, 2025 A | 202 | 0 | 0 | $0 |
| Larry S Carson | EVP, GFS | Nov. 10, 2023 M | 18,810 | 0 | 0 | $0 |
| Olav Cuiper | EVP, Head of EMEA | March 9, 2023 A | 9,012 | 0 | 0 | $0 |
| Gay Burns | EVP, Chief HR Officer | March 22, 2022 A | 9,984 | 0 | 0 | $0 |
| Michele Mi Kyung Bang | Director | May 21, 2025 A | — | 0 | 0 | $0 |
| Stephen T O'Hearn | Director | May 21, 2025 A | — | 0 | 0 | $0 |
| George Nichols III | Director | May 21, 2025 A | 2,352 | 0 | 0 | $0 |
| Pina Albo | Director | May 21, 2025 A | 1,072 | 0 | 0 | $0 |
| Hazel Mcneilage | Director | May 21, 2025 A | 527 | 0 | 0 | $0 |
| Shundrawn A Thomas | Director | May 21, 2025 A | 3,454 | 0 | 0 | $0 |
| Steven C. Van Wyk | Director | May 21, 2025 A | 989 | 0 | 0 | $0 |
| Alison S. Rand | Director | May 21, 2025 A | 583 | 0 | 0 | $0 |
| Patricia Lynn Guinn | Director | May 21, 2025 A | 10,780 | 0 | 0 | $0 |
| John J Gauthier | Director | May 21, 2025 A | 9,537 | 0 | 0 | $0 |
| Khanh T Tran | Director | May 21, 2025 A | 1,882 | 0 | 0 | $0 |
| Keng Hooi Ng | Director | May 24, 2023 A | — | 0 | 0 | $0 |
| Stanley B Tulin | Director | May 25, 2022 A | 11,756 | 0 | 0 | $0 |
| Cliff J Eason | Director | May 25, 2022 A | 18,356 | 0 | 0 | $0 |
| William A Peck | Director | Jan. 28, 2004 A | 2,150 | 0 | 0 | $0 |
| METROPOLITAN LIFE INSURANCE CO/NY | 10% owner | Nov. 13, 2003 P | 24,926,250 | 0 | 0 | $0 |
| Christine Rose Detrick | — | May 25, 2022 A | 2,152 | 0 | 0 | $0 |
| Alain Neemeh | — | Sept. 2, 2021 G | 39,636 | 0 | 0 | $0 |
| Frederick James Sievert | — | May 19, 2021 A | 7,912 | 0 | 0 | $0 |
| Dennis E Barnes JR | — | March 11, 2021 A | — | 0 | 0 | $0 |
| Michael Emerson | — | May 14, 2020 F | 12,793 | 0 | 0 | $0 |
| John P Laughlin Jr | — | May 14, 2020 F | 32,561 | 0 | 0 | $0 |
| Arnoud W.A. Boot | — | Aug. 15, 2019 S | 6,301 | 0 | 0 | $0 |
| John F. Danahy | — | May 22, 2019 A | 18,456 | 0 | 0 | $0 |
| Alan C Henderson | — | May 22, 2019 A | 17,715 | 0 | 0 | $0 |
| Timothy T Matson, | — | May 2, 2019 F | 6,735 | 0 | 0 | $0 |
| Joyce Ann Phillips | — | Feb. 23, 2017 A | 5,932 | 0 | 0 | $0 |
| William J Bartlett | — | Feb. 23, 2017 A | 18,212 | 0 | 0 | $0 |
| Jack B Lay | — | Aug. 9, 2016 M | 33,976 | 0 | 0 | $0 |
| Greig A Woodring | — | Aug. 5, 2016 M | 177,295 | 0 | 0 | $0 |
| Donna Haag Kinnaird | — | May 10, 2016 F | 3,194 | 0 | 0 | $0 |
| Paul A Schuster | — | Oct. 31, 2014 M | 35,728 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 2 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Jan. 30, 2002 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | April 3, 2001 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 131 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 |
|---|---|---|---|---|
| EPSB · Harbor ETF Trust | 2.21% | 488 NS | April 30, 2026 | N-PORT |
| EPSV · Harbor ETF Trust | 2.02% | 475 NS | April 30, 2026 | N-PORT |
| EPMB · Harbor ETF Trust | 1.97% | 420 NS | April 30, 2026 | N-PORT |
| RGEF · Tidal Trust III | 1.87% | 70,202 NS | April 30, 2026 | N-PORT |
| EPMV · Harbor ETF Trust | 1.78% | 374 NS | April 30, 2026 | N-PORT |
| RFV · Invesco Exchange-Traded Fund Trust | 1.67% | 22,977 SH | Aug. 8, 2026 | Daily |
| GRPM · Invesco Exchange-Traded Fund Trust | 1.59% | 32,776 SH | Aug. 8, 2026 | Daily |
| REGL · ProShares Trust | 1.50% | 125,633 NS | May 31, 2026 | N-PORT |
| FLV · AMERICAN CENTURY ETF TRUST | 1.42% | 24,950 NS | May 31, 2026 | N-PORT |
| PAMC · Pacer Funds Trust | 1.39% | 4,141 NS | April 30, 2026 | N-PORT |
| XMLV · Invesco Exchange-Traded Fund Trust … | 1.19% | 36,174 SH | Aug. 8, 2026 | Daily |
| RWK · Invesco Exchange-Traded Fund Trust … | 1.18% | 64,590 SH | Aug. 8, 2026 | Daily |
| CVY · Invesco Exchange-Traded Fund Trust | 1.11% | 5,595 SH | Aug. 8, 2026 | Daily |
| FXO · First Trust Exchange-Traded AlphaDE… | 0.92% | 46,834 NS | April 30, 2026 | N-PORT |
| VAMO · Cambria ETF Trust | 0.88% | 3,464 NS | April 30, 2026 | N-PORT |
| IJJ · iShares Trust | 0.88% | 333,615 SH | Aug. 8, 2026 | Daily |
| SDVD · First Trust Exchange-Traded Fund IV | 0.84% | 33,163 NS | April 30, 2026 | N-PORT |
| IVOV · VANGUARD ADMIRAL FUNDS | 0.80% | 56,251 SH | Aug. 8, 2026 | Daily |
| IIGD · Invesco Exchange-Traded Self-Indexe… | 0.72% | 190,000 | Aug. 8, 2026 | Daily |
| FFSM · FIDELITY COVINGTON TRUST | 0.71% | 43,577 NS | April 30, 2026 | N-PORT |
| PGX · Invesco Exchange-Traded Fund Trust … | 0.69% | 1,015,797 | Aug. 8, 2026 | Daily |
| VRP · Invesco Exchange-Traded Fund Trust … | 0.64% | 11,861,695 | Aug. 8, 2026 | Daily |
| IQSM · New York Life Investments ETF Trust | 0.58% | 8,612 NS | April 30, 2026 | N-PORT |
| MIDE · DBX ETF Trust | 0.53% | 89 NS | May 29, 2026 | N-PORT |
| XJH · iShares Trust | 0.49% | 8,854 SH | Aug. 8, 2026 | Daily |
| ISCV · iShares Trust | 0.48% | 14,150 SH | Aug. 8, 2026 | Daily |
| QVMM · Invesco Exchange-Traded Fund Trust … | 0.48% | 8,544 SH | Aug. 8, 2026 | Daily |
| HSMV · First Trust Exchange-Traded Fund III | 0.44% | 639 NS | April 30, 2026 | N-PORT |
| IJH · iShares Trust | 0.43% | 2,260,389 SH | Aug. 8, 2026 | Daily |
| PTMC · Pacer Funds Trust | 0.41% | 7,544 NS | April 30, 2026 | N-PORT |
| ABCS · EA Series Trust | 0.40% | 224 NS | May 29, 2026 | N-PORT |
| CLSE · Trust for Professional Managers | 0.39% | 11,969 NS | May 31, 2026 | N-PORT |
| IVOO · VANGUARD ADMIRAL FUNDS | 0.38% | 105,836 SH | Aug. 8, 2026 | Daily |
| JPME · J.P. Morgan Exchange-Traded Fund Tr… | 0.37% | 7,703 NS | April 30, 2026 | N-PORT |
| BKMC · BNY Mellon ETF Trust | 0.36% | 10,597 NS | April 30, 2026 | N-PORT |
| PFF · iShares Trust | 0.34% | 1,744,808 SH | Aug. 8, 2026 | Daily |
| AVMV · AMERICAN CENTURY ETF TRUST | 0.33% | 10,321 NS | May 31, 2026 | N-PORT |
| JSTC · Tidal Trust I | 0.33% | 5,507 NS | May 31, 2026 | N-PORT |
| VBR · VANGUARD INDEX FUNDS | 0.30% | 953,733 SH | Aug. 8, 2026 | Daily |
| LOWV · AB Active ETFs, Inc. | 0.30% | 3,024 NS | May 31, 2026 | N-PORT |
| FNK · First Trust Exchange-Traded AlphaDE… | 0.29% | 2,973 NS | April 30, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.29% | 187,365 NS | April 30, 2026 | N-PORT |
| MVV · ProShares Trust | 0.29% | 2,270 NS | May 31, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.28% | 26,681 NS | April 30, 2026 | N-PORT |
| MIDU · Direxion Shares ETF Trust | 0.28% | 1,088 NS | April 30, 2026 | N-PORT |
| FSMD · FIDELITY COVINGTON TRUST | 0.27% | 30,742 NS | April 30, 2026 | N-PORT |
| ESML · iShares Trust | 0.26% | 32,293 SH | Aug. 8, 2026 | Daily |
| SMDX · Tidal Trust III | 0.26% | 1,533 NS | April 30, 2026 | N-PORT |
| SCHM · SCHWAB STRATEGIC TRUST | 0.24% | 177,579 NS | May 31, 2026 | N-PORT |
| ISCB · iShares Trust | 0.23% | 2,864 SH | Aug. 8, 2026 | Daily |