RLJ RLJ Lodging Trust Common Shares of Beneficial Interest $0.01 par value
$11.05
Price · Aug 18, 2026
Fundamentals as of Aug 7, 2026
52W Range
$7–$13
71% of range
Analyst Rating
HOLD
18 analysts
Price Target
$11
+3% upside
P/E (TTM)
1105.0
ROE
1.3%
Net Profit Margin
2.1%
RLJ Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$11.05
Market Cap
$1.67B
P/E (TTM)
1105.0
EPS (TTM)
$0.01
Revenue (TTM)
$1.35B
Div Yield
5.5%
ROE
1.3%
Debt/Equity
—
52W Range
$7 – $13
RLJ Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$1.35B
2016-12-31
→
2025-12-31
EPS
$0.01
2016-12-31
→
2025-12-31
Free Cash Flow
—
2016-12-31
→
2018-12-31
Margins
2.1%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
RLJ
Peer Median
P/E (TTM)
1105.0
27.1
P/S (TTM)
1.2
2.0
P/B
0.8
0.9
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
RLJ
Peer Median
Net Profit Margin
2.1%
2.8%
ROA
0.59%
0.89%
ROE
1.3%
1.5%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
RLJ
Peer Median
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
RLJ
Peer Median
Revenue YoY
-1.4%
—
Revenue CAGR 3Y
4.2%
—
Revenue CAGR 5Y
23.3%
—
EPS YoY
-96.3%
—
Net Income YoY
-58.1%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
RLJ
Peer Median
Payout Ratio
320.5%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
5.5%
Payout Ratio
320.5%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| June 30, 2026 | $0.1500 |
| March 31, 2026 | $0.1500 |
| Dec. 31, 2025 | $0.1500 |
| Sept. 30, 2025 | $0.1500 |
| June 30, 2025 | $0.1500 |
| March 31, 2025 | $0.1500 |
| Dec. 31, 2024 | $0.1500 |
| Sept. 30, 2024 | $0.1500 |
| June 28, 2024 | $0.1000 |
| March 27, 2024 | $0.1000 |
| Dec. 28, 2023 | $0.1000 |
| Sept. 28, 2023 | $0.1000 |
| June 29, 2023 | $0.0800 |
| March 30, 2023 | $0.0800 |
| Dec. 29, 2022 | $0.0500 |
| Sept. 29, 2022 | $0.0500 |
| June 29, 2022 | $0.0100 |
| March 30, 2022 | $0.0100 |
| Dec. 30, 2021 | $0.0100 |
| Sept. 29, 2021 | $0.0100 |
RLJ Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
HOLD
18 analysts
- Strong Buy 1 5.6%
- Buy 1 5.6%
- Hold 8 44.4%
- Sell 7 38.9%
- Strong Sell 1 5.6%
12-Month Price Target
11 analysts · 2026-08-15
Median
$11.50
Now
$11.05
Low
$9.50
High
$13.00
Median target
$11.50
+4.1%
Mean target
$11.41
+3.2%
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 | $0.16 | $0.14 | 0.02% |
| March 31, 2026 | $-0.04 | $-0.08 | 0.04% |
| Dec. 31, 2025 | $-0.04 | $-0.00 | -0.04% |
| Sept. 30, 2025 | $-0.07 | $0.02 | -0.09% |
| June 30, 2025 | $0.15 | $0.16 | -0.01% |
| March 31, 2025 | $-0.03 | $0.00 | -0.03% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| RLJ | $1.13B | 745.0 | -1.4% | 2.1% | 1.3% | — |
| PK | $2.09B | -7.3 | -2.2% | -11.1% | -8.3% | — |
| DRH | $1.83B | 20.4 | -0.83% | 9.0% | 6.7% | — |
| PEB | $1.28B | -12.6 | 1.5% | -4.5% | -2.5% | — |
| SHO | $1.70B | 223.5 | 6.0% | 2.6% | 1.2% | — |
| XHR | $1.30B | 22.1 | 3.8% | 5.9% | 5.3% | — |
| SVC | $309M | -1.5 | -4.3% | -11.2% | -30.1% | — |
| INN | $530M | -22.1 | -0.32% | -1.6% | -1.3% | — |
| CLDT | $325M | 48.6 | -7.0% | 5.1% | 2.0% | — |
| BHR | — | -2.7 | -3.4% | — | — | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.35B | $1.37B | $1.33B | $1.19B | $786M | $473M | $1.57B | $1.76B | $1.36B | $1.16B | $1.14B | $1.11B | |
| SG&A Expense | $48M | $55M | $59M | $56M | $48M | $41M | $45M | $49M | $40M | $32M | $38M | $42M | |
| Operating Expenses | $1.22B | $1.22B | $1.17B | $1.07B | $981M | $730M | $1.35B | $1.51B | $1.18B | $940M | $932M | $918M | |
| Operating Income | · | · | · | · | · | · | · | · | $181M | $220M | $204M | $191M | |
| Interest Expense | $112M | $111M | $99M | $93M | $106M | $100M | $91M | $102M | $78M | $59M | $55M | $57M | |
| Interest Income | $14M | $17M | $20M | $5M | $996.0K | $4M | $9M | $5M | $3M | $2M | $2M | $2M | |
| Other Non-op | $3M | $5M | $4M | $9M | $-8M | $2M | $1M | $3M | $269.0K | $303.0K | · | · | |
| Pretax Income | $30M | $70M | $78M | $44M | $-310M | $-357M | $126M | $200M | $118M | $210M | $152M | $137M | |
| Income Tax | $1M | $2M | $1M | $2M | $1M | $52M | $-4M | $9M | $42M | $8M | $-39M | $1M | |
| Net Income | $29M | $68M | $76M | $42M | $-305M | $-404M | $128M | $189M | $75M | $200M | $218M | $136M | |
| EPS (Basic) | $0.01 | $0.27 | $0.32 | $0.10 | $-2.01 | $-2.61 | $0.59 | $0.93 | $0.47 | $1.61 | $1.69 | $1.06 | |
| EPS (Diluted) | $0.01 | $0.27 | $0.32 | $0.10 | $-2.01 | $-2.61 | $0.59 | $0.93 | $0.47 | $1.61 | $1.68 | $1.05 | |
| Shares (Basic) | 149,662,774 | 152,856,036 | 155,928,663 | 161,947,807 | 163,998,390 | 164,503,661 | 171,287,086 | 174,225,130 | 140,616,838 | 123,651,003 | 128,444,469 | 127,360,669 | |
| Shares (Diluted) | 149,912,078 | 153,475,921 | 156,556,414 | 162,292,865 | 163,998,390 | 164,503,661 | 171,388,476 | 174,316,405 | 140,694,049 | 123,879,007 | 128,967,754 | 128,293,843 | |
| EBITDA | $186M | $179M | $179M | $185M | $188M | $194M | $212M | $242M | $368M | $383M | $360M | $336M |
Balance Sheet 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $410M | $410M | $517M | $481M | $665M | $900M | $882M | $320M | $586M | $457M | $134M | $262M | |
| Intangibles | · | · | · | · | · | · | $0 | $52M | $133M | $898.0K | · | · | |
| Total Assets | $4.74B | $4.88B | $4.92B | $4.98B | $5.15B | $5.62B | $5.85B | $6.00B | $6.79B | $4.02B | $3.97B | $4.13B | |
| Deferred Tax | · | · | · | · | · | · | · | · | · | · | $8M | $5M | |
| Total Liabilities | $2.56B | $2.59B | $2.57B | $2.55B | $2.74B | $2.93B | $2.62B | $2.51B | $3.22B | $1.79B | $1.77B | $1.75B | |
| Long-term Debt | $2.20B | $2.22B | $2.22B | $2.22B | $2.41B | $2.59B | $2.20B | $2.20B | $2.88B | $1.58B | $1.17B | $1.56B | |
| Common Stock | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $1M | $1M | |
| Retained Earnings | $-1.18B | $-1.09B | $-1.06B | $-1.05B | $-1.05B | $-710M | $-275M | $-150M | $-83M | $38M | $2M | $-46M | |
| AOCI | $2M | $14M | $23M | $41M | $-17M | $-69M | $-20M | $16M | $9M | $-5M | $-17M | $-14M | |
| Stockholders' Equity | $2.17B | $2.28B | $2.34B | $2.41B | $2.40B | $2.67B | $3.20B | $3.43B | $3.50B | $2.22B | $2.18B | $2.36B | |
| Liabilities + Equity | $4.74B | $4.88B | $4.92B | $4.98B | $5.15B | $5.62B | $5.85B | $6.00B | $6.79B | $4.02B | $3.97B | $4.13B | |
| Shares Outstanding | 151,085,078 | 153,295,577 | 155,297,829 | 162,003,533 | 166,503,062 | 165,002,752 | 174,019,616 | 174,019,616 | 174,869,046 | 124,364,178 | 124,635,675 | 131,964,706 |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $186M | $179M | $179M | $185M | $188M | $194M | $212M | $242M | $187M | $162M | $156M | $144M | |
| Stock-based Comp | $15M | $21M | $24M | $22M | $17M | $12M | $11M | $12M | $11M | $6M | $13M | $15M | |
| Deferred Tax | · | · | · | $0 | $0 | $51M | $-7M | $8M | $40M | $7M | $-41M | $-642.0K | |
| Amort. of Intangibles | · | · | · | · | · | · | $1M | $10M | $6M | $200.0K | $300.0K | · | |
| Other Non-cash | $14M | $17M | $35M | $8M | $143M | $-22M | $53M | $-56M | $-52M | $-45M | $-20M | $4M | |
| Operating Cash Flow | $244M | $285M | $315M | $257M | $43M | $-169M | $397M | $395M | $261M | $331M | $329M | $299M | |
| CapEx | · | · | · | · | · | · | · | $279.0K | $219.0K | $283.0K | $659.0K | $47.0K | |
| Investing Cash Flow | $-57M | $-276M | $-135M | $-136M | $-25M | $-67M | $530M | $277M | $65M | $185M | $-46M | $-611M | |
| Stock Issued | · | · | · | · | · | · | · | · | · | $0 | $0 | $233M | |
| Stock Repurchased | $29M | $22M | $76M | $58M | $0 | $63M | $78M | $22M | $3M | $13M | $225M | $0 | |
| Net Stock Activity | $-29M | $-22M | $-76M | $-58M | $0 | $-63M | $-78M | $-22M | $-3M | $-13M | $-225M | $227M | |
| Dividends Paid | $91M | $70M | $49M | $13M | $7M | $61M | $228M | $231M | $170M | $164M | $170M | $125M | |
| Financing Cash Flow | $-178M | $-132M | $-161M | $-298M | $-239M | $243M | $-385M | $-946M | $-190M | $-182M | $-419M | $243M | |
| Net Change in Cash | $9M | $-122M | $19M | $-177M | $-221M | $8M | $542M | $-274M | $135M | $334M | $-136M | $-70M | |
| Taxes Paid | $830.0K | $2M | $3M | $1M | $477.0K | $2M | $4M | $2M | $1M | $1M | $1M | $2M | |
| Free Cash Flow | · | · | · | · | · | · | · | $395M | $260M | $331M | $328M | $299M | |
| Levered FCF | · | · | · | · | · | · | · | $297M | · | $275M | $259M | $242M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | · | · | · | · | · | · | · | 13.4% | 19.0% | 17.9% | 17.3% | |
| Net Margin | 2.1% | 5.0% | 5.8% | 3.5% | -38.8% | -85.5% | 8.2% | 10.7% | 5.5% | 17.3% | 19.3% | 12.3% | |
| Pretax Margin | 2.2% | 5.1% | 5.9% | 3.7% | -39.4% | -75.4% | 8.0% | 11.3% | · | 14.1% | 13.4% | 12.4% | |
| EBITDA Margin | 13.8% | 13.1% | 13.5% | 15.5% | 23.9% | 41.0% | 13.5% | 13.7% | 27.1% | 33.0% | 31.7% | 30.3% | |
| ROA | 0.59% | 1.4% | 1.5% | 0.83% | -5.7% | -7.0% | 2.2% | 2.9% | 1.4% | 5.0% | 5.4% | 3.5% | |
| ROE | 1.3% | 2.9% | 3.2% | 1.7% | -12.0% | -13.8% | 3.9% | 5.4% | 2.6% | 9.1% | 9.7% | 6.1% | |
| ROIC | · | · | · | · | · | · | · | · | · | 9.4% | 11.7% | 8.0% |
Liquidity & Solvency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Coverage | · | · | · | · | · | · | · | · | 2.3 | 3.7 | 3.7 | 3.4 |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.3 | 0.3 | 0.2 | 0.1 | 0.1 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 |
Growth Rates 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -1.4% | 3.3% | 11.1% | 51.9% | 66.1% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 4.2% | 20.3% | 41.0% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 23.3% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -96.3% | -15.6% | 220.0% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | -53.6% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -58.1% | -11.0% | 82.2% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | -12.1% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 8.4% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.35B | $1.37B | $1.33B | $1.19B | $786M | $473M | $1.57B | $1.76B | $1.36B | $1.16B | $1.14B | $1.11B | |
| Net Income TTM | $29M | $68M | $76M | $42M | $-305M | $-404M | $128M | $189M | $75M | $200M | $218M | $136M | |
| Market Cap | $1.13B | $1.57B | $1.82B | $1.72B | $2.32B | $2.40B | $3.01B | $2.85B | $3.84B | $3.05B | $2.70B | $4.11B | |
| P/E | 745.0 | 37.8 | 36.6 | 105.9 | -6.9 | -5.4 | 30.0 | 17.6 | 46.7 | 15.2 | 12.9 | 31.9 | |
| P/S | 0.8 | 1.1 | 1.4 | 1.4 | 3.0 | 5.1 | 1.9 | 1.6 | 2.8 | 2.6 | 2.4 | 3.7 | |
| P/B | 0.5 | 0.7 | 0.8 | 0.7 | 1.0 | 0.9 | 0.9 | 0.8 | 1.1 | 1.4 | 1.2 | 1.7 | |
| P / Tangible Book | 0.5 | 0.7 | 0.8 | 0.7 | 1.0 | 0.9 | · | · | · | · | · | · | |
| P / Cash Flow | 4.6 | 5.5 | 5.8 | 6.7 | 54.0 | -14.2 | 7.6 | 7.2 | 14.7 | 9.2 | 8.2 | 13.8 | |
| P / FCF | · | · | · | · | · | · | · | 7.2 | 14.8 | 9.2 | 8.2 | 13.8 | |
| Dividend Yield | 8.1% | 4.5% | 2.7% | 0.77% | 0.29% | 2.5% | 7.6% | 8.1% | 4.4% | 5.4% | 6.3% | 3.0% | |
| Earnings Yield | 0.13% | 2.6% | 2.7% | 0.94% | -14.4% | -18.4% | 3.3% | 5.7% | 2.1% | 6.6% | 7.8% | 3.1% | |
| Payout Ratio | 320.5% | 102.6% | 64.4% | 31.7% | -2.2% | -15.1% | 178.6% | 122.5% | 227.1% | 81.7% | 77.4% | 91.7% | |
| Annual Payout | $91M | $70M | $49M | $13M | $7M | $61M | $228M | $231M | $170M | $164M | $170M | $125M |
Income Statement 14
| 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 | $383M | $340M | $329M | $330M | $363M | $328M | $330M | $346M | $369M | $324M | $320M | $334M | $357M | $315M | $302M | $318M | |
| SG&A Expense | $13M | $13M | $12M | $12M | $11M | $13M | $13M | $13M | $14M | $15M | $16M | $15M | $15M | $14M | $15M | $13M | |
| Operating Expenses | $327M | $312M | $301M | $309M | $310M | $303M | $301M | $306M | $312M | $301M | $293M | $300M | $296M | $284M | $277M | $279M | |
| Interest Expense | $28M | $28M | $29M | $28M | $28M | $28M | $28M | $29M | $28M | $26M | $25M | $25M | $25M | $24M | $22M | $23M | |
| Interest Income | $3M | $3M | $3M | $4M | $3M | $3M | $4M | $4M | $4M | $5M | $6M | $5M | $5M | $4M | $3M | $1M | |
| Other Non-op | $987.0K | $832.0K | $771.0K | $670.0K | $1M | $888.0K | $673.0K | $791.0K | $687.0K | $3M | $858.0K | $2M | $736.0K | $849.0K | $780.0K | $710.0K | |
| Pretax Income | $32M | $-85.0K | $723.0K | $-3M | $29M | $3M | $6M | $21M | $38M | $5M | $8M | $17M | $42M | $11M | $7M | $18M | |
| Income Tax | $286.0K | $264.0K | $174.0K | $341.0K | $339.0K | $294.0K | $518.0K | $379.0K | $393.0K | $309.0K | $228.0K | $332.0K | $357.0K | $339.0K | $379.0K | $391.0K | |
| Net Income | $31M | $-141.0K | $430.0K | $-4M | $28M | $3M | $5M | $21M | $37M | $5M | $8M | $16M | $41M | $11M | $7M | $18M | |
| EPS (Basic) | $0.16 | $-0.05 | $-0.05 | $-0.07 | $0.15 | $-0.02 | $-0.01 | $0.09 | $0.20 | $-0.01 | $0.01 | $0.06 | $0.22 | $0.03 | $0.00 | $0.07 | |
| EPS (Diluted) | $0.16 | $-0.05 | $-0.05 | $-0.07 | $0.15 | $-0.02 | $-0.01 | $0.09 | $0.20 | $-0.01 | $0.01 | $0.06 | $0.22 | $0.03 | $0.00 | $0.07 | |
| Shares (Basic) | 149,883,674 | 149,323,243 | -299,909,129 | 149,129,419 | 149,532,971 | 150,909,513 | -306,825,883 | 153,070,639 | 153,641,065 | 152,970,215 | -314,542,333 | 154,563,284 | 156,424,444 | 159,483,268 | -326,139,597 | 160,368,297 | |
| Shares (Diluted) | 150,928,683 | 149,323,243 | -299,725,807 | 149,129,419 | 149,598,953 | 150,909,513 | -306,840,334 | 153,240,169 | 154,105,871 | 152,970,215 | -315,410,166 | 155,081,645 | 156,741,187 | 160,143,748 | -326,456,078 | 160,784,709 | |
| EBITDA | · | $47M | · | · | · | $46M | · | · | · | $45M | · | · | · | $45M | · | · |
Balance Sheet 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $938M | $353M | $410M | $375M | $374M | $348M | $410M | $385M | $371M | $350M | $517M | $495M | $477M | $474M | $481M | $488M | |
| Total Assets | $5.23B | $4.70B | $4.74B | $4.79B | $4.82B | $4.82B | $4.88B | $4.89B | $4.92B | $4.89B | · | $4.94B | $4.93B | $4.93B | · | $4.97B | |
| Total Liabilities | $3.07B | $2.54B | $2.56B | $2.59B | $2.58B | $2.57B | $2.59B | $2.57B | $2.57B | $2.55B | · | $2.56B | $2.53B | $2.54B | · | $2.53B | |
| Long-term Debt | $2.70B | $2.19B | $2.20B | $2.22B | $2.22B | $2.22B | $2.22B | $2.22B | $2.22B | $2.22B | · | $2.22B | $2.22B | $2.22B | · | $2.21B | |
| Common Stock | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | · | $2M | $2M | $2M | · | $2M | |
| Retained Earnings | $-1.21B | $-1.21B | $-1.18B | $-1.15B | $-1.12B | $-1.12B | $-1.09B | $-1.07B | $-1.06B | $-1.07B | · | $-1.04B | $-1.04B | $-1.06B | · | $-1.04B | |
| AOCI | $7M | $5M | $2M | $3M | $5M | $8M | $14M | $9M | $22M | $25M | · | $40M | $42M | $34M | · | $42M | |
| Stockholders' Equity | $2.15B | $2.14B | $2.17B | $2.19B | $2.23B | $2.23B | $2.28B | $2.30B | $2.33B | $2.32B | · | $2.37B | $2.39B | $2.38B | · | $2.43B | |
| Liabilities + Equity | $5.23B | $4.70B | $4.74B | $4.79B | $4.82B | $4.82B | $4.88B | $4.89B | $4.92B | $4.89B | · | $4.94B | $4.93B | $4.93B | · | $4.97B | |
| Shares Outstanding | 152,375,872 | 151,975,812 | 151,085,078 | 151,048,741 | 151,243,564 | 151,926,642 | 153,295,577 | 153,628,657 | 155,240,677 | 155,819,434 | · | 156,172,739 | 157,686,191 | 160,077,784 | · | 162,726,642 |
Cash Flow 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $47M | $47M | $47M | $47M | $46M | $46M | $45M | $45M | $44M | $45M | $44M | $45M | $45M | $45M | $45M | $47M | |
| Stock-based Comp | $4M | $4M | $4M | $4M | $3M | $4M | $5M | $5M | $5M | $6M | $6M | $6M | $6M | $6M | $6M | $5M | |
| Other Non-cash | · | $-24M | · | · | · | $-37M | · | · | · | $-35M | · | · | · | $-19M | · | · | |
| Operating Cash Flow | $115M | $26M | $63M | $63M | $101M | $16M | $71M | $80M | $114M | $21M | $89M | $89M | $95M | $42M | $53M | $87M | |
| Investing Cash Flow | $-8M | $-28M | $31M | $-30M | $-35M | $-24M | $-29M | $-21M | $-67M | $-158M | $-33M | $-36M | $-33M | $-33M | $-38M | $-93M | |
| Stock Repurchased | $367.0K | $3M | $25M | $0 | $428.0K | $3M | $13M | $0 | $5M | $4M | $72M | $0 | $3M | $2M | $54M | $9.0K | |
| Net Stock Activity | · | $-3M | · | · | · | $-3M | · | · | · | $-4M | · | · | · | $-2M | · | · | |
| Dividends Paid | $23M | $23M | $23M | $23M | $23M | $23M | $23M | $16M | $16M | $16M | $16M | $13M | $13M | $8M | $8M | $2M | |
| Financing Cash Flow | $479M | $-52M | $-56M | $-31M | $-38M | $-54M | $-33M | $-42M | $-30M | $-27M | $-31M | $-34M | $-56M | $-40M | $-18M | $-11M | |
| Taxes Paid | $584.0K | $155.0K | $-91.0K | $50.0K | $927.0K | $-56.0K | $123.0K | $42.0K | $2M | $122.0K | $628.0K | $-14.0K | $2M | $67.0K | $405.0K | $173.0K |
Profitability 5
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 8.1% | -0.04% | · | -1.1% | 7.8% | 1.0% | · | 6.0% | 10.1% | 1.5% | · | 4.9% | 11.6% | 3.4% | · | 5.5% | |
| Pretax Margin | 8.2% | -0.03% | · | -1.1% | 8.0% | 1.1% | · | 6.1% | 10.2% | 1.6% | · | 5.0% | 11.8% | 3.5% | · | 5.7% | |
| EBITDA Margin | · | 13.9% | · | · | · | 14.0% | · | · | · | 13.8% | · | · | · | 14.3% | · | · | |
| ROA | 0.62% | 0.00% | · | -0.08% | 0.58% | 0.07% | · | 0.42% | 0.75% | 0.10% | · | 0.33% | 0.84% | 0.22% | · | 0.35% | |
| ROE | 1.4% | -0.01% | · | -0.17% | 1.2% | 0.15% | · | 0.88% | 1.6% | 0.21% | · | 0.69% | 1.7% | 0.44% | · | 0.73% |
Efficiency 1
| 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 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 |
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 | $1.42B | $1.36B | · | $1.37B | $1.41B | $1.37B | · | $1.37B | $1.39B | $1.33B | · | $1.32B | $1.32B | $1.21B | · | $1.13B | |
| Net Income TTM | $56M | $28M | · | $49M | $90M | $66M | · | $79M | $100M | $73M | · | $86M | $103M | $46M | · | $-113M | |
| Market Cap | $1.81B | $1.13B | · | $1.09B | $1.10B | $1.20B | · | $1.41B | $1.49B | $1.84B | · | $1.53B | $1.62B | $1.70B | · | $1.65B | |
| P/E | 62.4 | 742.0 | · | 48.0 | 17.3 | 30.3 | · | 27.0 | 20.5 | 39.4 | · | 25.8 | 21.4 | 81.5 | · | -12.0 | |
| P/S | 1.3 | 0.8 | · | 0.8 | 0.8 | 0.9 | · | 1.0 | 1.1 | 1.4 | · | 1.2 | 1.2 | 1.4 | · | 1.5 | |
| P/B | 0.8 | 0.5 | · | 0.5 | 0.5 | 0.5 | · | 0.6 | 0.6 | 0.8 | · | 0.6 | 0.7 | 0.7 | · | 0.7 | |
| P / Tangible Book | 0.8 | 0.5 | · | 0.5 | 0.5 | 0.5 | · | 0.6 | 0.6 | 0.8 | · | 0.6 | 0.7 | 0.7 | · | 0.7 | |
| P / Cash Flow | · | 43.0 | · | · | · | 73.5 | · | · | · | 88.7 | · | · | · | 40.4 | · | · | |
| Earnings Yield | 1.6% | 0.13% | · | 2.1% | 5.8% | 3.3% | · | 3.7% | 4.9% | 2.5% | · | 3.9% | 4.7% | 1.2% | · | -8.3% | |
| Payout Ratio | · | -16448.2% | · | · | · | 690.9% | · | · | · | 314.6% | · | · | · | 76.1% | · | · |
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 | $1.35B | $1.37B | $1.33B | $1.19B | $786M |
| Net Income | $29M | $68M | $76M | $42M | $-305M |
| Diluted EPS | $0.01 | $0.27 | $0.32 | $0.10 | $-2.01 |
My Metrics Your personal watchlist — selected rows from Full Fundamentals
📊
Pick the metrics that matter to you — click the ➕ next to any row in Full Fundamentals above.
Your selection is saved and follows you across all tickers.
Institutional owners (13F) 233 filers · $1.1B 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 |
|---|---|---|---|---|
| 45 (+18 vs prior Q) | 18 (+1 vs prior Q) | 66 (-4 vs prior Q) | 70 (+3 vs prior Q) | +27.5M |
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 |
|---|---|---|---|---|
| DONALD SMITH & CO., INC. | $145,894,913 | 12,311,807 | 13.47% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $145,174,469 | 12,251,010 | 13.40% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $73,501,331 | 6,202,644 | 6.78% | Shares |
| STATE STREET CORP | $72,547,363 | 6,050,006 | 6.70% | Shares |
| TWO SIGMA INVESTMENTS, LP | $71,794,611 | 6,058,617 | 6.63% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $43,970,871 | 3,710,622 | 4.06% | Shares |
| Allianz Asset Management GmbH | $42,552,971 | 3,590,968 | 3.93% | Shares |
| MILLENNIUM MANAGEMENT LLC | $41,668,759 | 3,516,351 | 3.85% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $40,027,652 | 3,377,116 | 3.69% | Shares |
| Fisher Asset Management, LLC | $38,076,253 | 3,213,186 | 3.51% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $34,268,020 | 2,891,816 | 3.16% | Shares |
| AMERIPRISE FINANCIAL INC | $31,220,391 | 2,634,538 | 2.88% | Shares |
| AEGIS FINANCIAL CORP | $24,285,686 | 2,049,425 | 2.24% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $19,024,476 | 1,605,441 | 1.76% | Shares |
| CITADEL ADVISORS LLC | $16,561,584 | 1,397,602 | 1.53% | Shares |
| PALISADE CAPITAL MANAGEMENT, LP | $13,440,128 | 1,134,188 | 1.24% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $12,273,365 | 1,035,727 | 1.13% | Shares |
| GLENMEDE TRUST CO NA | $12,232,079 | 1,032,243 | 1.13% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $11,486,359 | 969,313 | 1.06% | Shares |
| BlackRock, Inc. | $9,992,998 | 843,291 | 0.92% | Shares |
| Glenmede Investment Management, LP | $9,519,609 | 1,322,168 | 0.88% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $9,044,856 | 763,279 | 0.83% | Shares |
| BANK OF AMERICA CORP /DE/ | $8,389,326 | 707,960 | 0.77% | Shares |
| FIRST TRUST ADVISORS LP | $7,940,850 | 670,114 | 0.73% | Shares |
| GOLDMAN SACHS GROUP INC | $7,310,312 | 616,904 | 0.67% | Shares |
| ALGERT GLOBAL LLC | $7,282,417 | 614,550 | 0.67% | Shares |
| CastleKnight Management LP | $6,372,930 | 537,800 | 0.59% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $5,467,033 | 461,353 | 0.50% | Shares |
| TWO SIGMA ADVISERS, LP | $5,434,201 | 729,423 | 0.50% | Shares |
| NORGES BANK | $4,503,770 | 380,065 | 0.42% | Shares |
| Bank of New York Mellon Corp | $4,397,997 | 371,139 | 0.41% | Shares |
| Alexander Randolph Advisory, Inc. | $3,253,252 | 274,536 | 0.30% | Shares |
| ExodusPoint Capital Management, LP | $3,145,132 | 265,412 | 0.29% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $3,140,843 | 265,050 | 0.29% | Shares |
| MARTINGALE ASSET MANAGEMENT L P | $2,929,913 | 247,250 | 0.27% | Shares |
| BARCLAYS PLC | $2,926,903 | 246,996 | 0.27% | Shares |
| Swiss National Bank | $2,890,902 | 243,958 | 0.27% | Shares |
| NOMURA ASSET MANAGEMENT CO LTD | $2,833,335 | 239,100 | 0.26% | Shares |
| PICTON MAHONEY ASSET MANAGEMENT | $2,734,483 | 230,758 | 0.25% | Shares |
| HSBC HOLDINGS PLC | $2,520,345 | 214,042 | 0.23% | Shares |
| PRUDENTIAL FINANCIAL INC | $2,510,470 | 211,854 | 0.23% | Shares |
| Penn Capital Management Company, LLC | $2,445,744 | 205,159 | 0.23% | Shares |
| MORGAN STANLEY | $2,425,854 | 204,713 | 0.22% | Shares |
| Quantinno Capital Management LP | $2,408,463 | 203,245 | 0.22% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $2,381,506 | 200,971 | 0.22% | Shares |
| DENALI ADVISORS LLC | $2,356,965 | 198,900 | 0.22% | Shares |
| Cubist Systematic Strategies, LLC | $2,354,181 | 326,970 | 0.22% | Shares |
| RHUMBLINE ADVISERS | $2,299,967 | 194,091 | 0.21% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $1,875,642 | 158,282 | 0.17% | Shares |
| Schonfeld Strategic Advisors LLC | $1,823,476 | 153,880 | 0.17% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $1,727,481 | 145,779 | 0.16% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $1,544,150 | 130,308 | 0.14% | Shares |
| FEDERATED HERMES, INC. | $1,517,535 | 128,062 | 0.14% | Shares |
| Asset Management One Co., Ltd. | $1,515,350 | 204,225 | 0.14% | Shares |
| Vanguard Investments Australia, Ltd. | $1,384,163 | 116,807 | 0.13% | Shares |
| READYSTATE ASSET MANAGEMENT LP | $1,377,219 | 116,221 | 0.13% | Shares |
| WELLS FARGO & COMPANY/MN | $1,296,141 | 109,379 | 0.12% | Shares |
| ALLIANCEBERNSTEIN L.P. | $1,279,594 | 172,452 | 0.12% | Shares |
| Jain Global LLC | $1,263,210 | 106,600 | 0.12% | Shares |
| CAXTON ASSOCIATES LLP | $1,209,684 | 102,083 | 0.11% | Shares |
| RAYMOND JAMES FINANCIAL INC | $1,174,809 | 99,140 | 0.11% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,098,222 | 92,677 | 0.10% | Shares |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS | $1,080,305 | 91,165 | 0.10% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $1,056,937 | 89,193 | 0.10% | Shares |
| MACQUARIE GROUP LTD | $1,040,975 | 87,846 | 0.10% | Shares |
| IEQ CAPITAL, LLC | $1,035,799 | 87,409 | 0.10% | Shares |
| Abel Hall, LLC | $1,014,976 | 85,652 | 0.09% | Shares |
| Nuveen, LLC | $962,066 | 81,187 | 0.09% | Shares |
| Engineers Gate Manager LP | $954,837 | 80,577 | 0.09% | Shares |
| Vinva Investment Management Ltd | $948,270 | 55,107 | 0.09% | Shares |
| MetLife Investment Management, LLC | $914,986 | 77,214 | 0.08% | Shares |
| Amundi | $862,763 | 72,807 | 0.08% | Shares |
| VIRTUS ADVISERS, LLC | $850,332 | 71,758 | 0.08% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $810,220 | 68,373 | 0.07% | Shares |
| KLP KAPITALFORVALTNING AS | $790,515 | 66,000 | 0.07% | Shares |
| Resona Asset Management Co.,Ltd. | $784,734 | 66,274 | 0.07% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $758,829 | 102,268 | 0.07% | Shares |
| Y-Intercept (Hong Kong) Ltd | $755,153 | 63,726 | 0.07% | Shares |
| D. E. Shaw & Co., Inc. | $725,327 | 61,209 | 0.07% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $724,509 | 61,140 | 0.07% | Shares |
| State of Wyoming | $683,117 | 57,647 | 0.06% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $683,105 | 57,646 | 0.06% | Shares |
| Daiwa Securities Group Inc. | $677,322 | 57,158 | 0.06% | Shares |
| Vanguard Global Advisers, LLC | $663,150 | 55,962 | 0.06% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $647,733 | 54,661 | 0.06% | Shares |
| Aberdeen Group plc | $639,331 | 53,952 | 0.06% | Shares |
| Invesco Ltd. | $591,256 | 49,895 | 0.05% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $589,135 | 49,716 | 0.05% | Shares |
| Squarepoint Ops LLC | $581,622 | 49,082 | 0.05% | Shares |
| TEACHER RETIREMENT SYSTEM OF TEXAS | $537,955 | 45,397 | 0.05% | Shares |
| CHOREO, LLC | $531,069 | 44,816 | 0.05% | Shares |
| JANUS HENDERSON GROUP PLC | $528,742 | 71,211 | 0.05% | Shares |
| Quantbot Technologies LP | $513,579 | 43,340 | 0.05% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $504,202 | 42,549 | 0.05% | Shares |
| FJ Capital Management LLC | $491,870 | 41,508 | 0.05% | Shares |
| Metis Global Partners, LLC | $462,885 | 39,062 | 0.04% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $461,209 | 40,210 | 0.04% | Shares |
| Optimize Financial Inc | $450,847 | 60,761 | 0.04% | Shares |
| Police & Firemen's Retirement System of New Jersey | $446,769 | 37,702 | 0.04% | Shares |
| Eddie Patel Inc | $446,640 | 37,691 | 0.04% | Shares |
Company insiders 20 insiders · 11 officers · 12 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Leslie D. Hale | President and CEO | March 18, 2026 F | 2,170,936 | 0 | 0 | $0 |
| Thomas J Baltimore Jr | President and CEO | Sept. 2, 2013 F | 1,156,311 | 0 | 0 | $0 |
| Nikhil Bhalla | SVP, CFO & Treasurer | March 18, 2026 F | 201,504 | 0 | 0 | $0 |
| Sean M Mahoney | EVP and CFO | March 18, 2025 F | 385,725 | 0 | 0 | $0 |
| Thomas Bardenett | EVP and COO | March 18, 2026 F | 502,674 | 0 | 0 | $0 |
| Christopher Andrew Gormsen | Chief Accounting Officer | May 6, 2026 A | 330,231 | 0 | 0 | $0 |
| Frederick D. Mckalip | EVP, Gen. Counsel & Corp. Sec. | April 27, 2026 F | 278,820 | 0 | 0 | $0 |
| Robert L Johnson | Executive Chairman | March 18, 2026 F | 1,586,626 | 0 | 0 | $0 |
| Chad Perry | EVP, GC & Corp Secretary | April 27, 2025 F | 150,576 | 0 | 0 | $0 |
| Ross H. Bierkan | Chief Investment Officer | Sept. 2, 2013 F | 454,363 | 0 | 0 | $0 |
| Julio E Morales | Chief Accounting Officer | May 16, 2012 F | 31,721 | 0 | 0 | $0 |
| Arthur Reginald Collins | Director | May 6, 2026 A | 77,136 | 0 | 0 | $0 |
| Patricia L Gibson | Director | May 6, 2026 A | 158,884 | 0 | 0 | $0 |
| Robin Mcbride Zeigler | Director | May 6, 2026 A | 53,308 | 0 | 1 | $-100,732 |
| Evan Bayh | Director | May 6, 2026 A | 132,109 | 0 | 0 | $0 |
| Nathaniel A Davis | Director | May 6, 2026 A | 89,801 | 0 | 0 | $0 |
| Robert Mccarthy | Director | May 6, 2026 A | 97,456 | 0 | 0 | $0 |
| Robert M La Forgia | Director | May 6, 2026 A | 143,995 | 0 | 0 | $0 |
| Glenda G Mcneal | Director | April 30, 2021 A | 60,081 | 0 | 0 | $0 |
| Joseph J Ryan | Director | June 28, 2013 A | 31,939 | 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 |
|---|---|---|---|---|---|
| CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM ×2 filings | Jan. 12, 2012 | — | 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 52 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 |
|---|---|---|---|---|
| KBWY · Invesco Exchange-Traded Fund Trust … | 3.40% | 949,876 | Aug. 8, 2026 | Daily |
| RDOG · ALPS ETF Trust | 2.62% | 30,094 NS | May 31, 2026 | N-PORT |
| SMLL · Harbor ETF Trust | 2.10% | 35,303 NS | April 30, 2026 | N-PORT |
| RIET · ETF Series Solutions | 1.47% | 157,435 NS | May 31, 2026 | N-PORT |
| GYLD · ARROW ETF TRUST | 0.71% | 27,614 NS | April 30, 2026 | N-PORT |
| FYT · First Trust Exchange-Traded AlphaDE… | 0.66% | 147,266 NS | April 30, 2026 | N-PORT |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.32% | 467,821 NS | April 30, 2026 | N-PORT |
| GQRE · FlexShares Trust | 0.25% | 114,121 NS | April 30, 2026 | N-PORT |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.20% | 143,682 NS | April 30, 2026 | N-PORT |
| BBRE · J.P. Morgan Exchange-Traded Fund Tr… | 0.19% | 246,160 NS | May 31, 2026 | N-PORT |
| EBIT · Harbor ETF Trust | 0.16% | 2,237 NS | April 30, 2026 | N-PORT |
| PFF · iShares Trust | 0.15% | 801,749 SH | Aug. 8, 2026 | Daily |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.14% | 22,764 NS | April 30, 2026 | N-PORT |
| ROSC · Lattice Strategies Trust | 0.12% | 8,099 NS | April 30, 2026 | N-PORT |
| USRT · iShares Trust | 0.12% | 462,801 SH | Aug. 8, 2026 | Daily |
| FNDA · SCHWAB STRATEGIC TRUST | 0.12% | 1,079,751 NS | May 31, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.11% | 275,268 | Aug. 8, 2026 | Daily |
| SCHH · SCHWAB STRATEGIC TRUST | 0.10% | 1,056,106 NS | May 31, 2026 | N-PORT |
| IWN · iShares Trust | 0.10% | 1,179,095 SH | Aug. 8, 2026 | Daily |
| FREL · FIDELITY COVINGTON TRUST | 0.09% | 161,199 NS | April 30, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.09% | 108,857 SH | Aug. 8, 2026 | Daily |
| ERET · iShares Trust | 0.09% | 1,018 SH | Aug. 8, 2026 | Daily |
| DFAR · Dimensional ETF Trust | 0.08% | 170,730 NS | April 30, 2026 | N-PORT |
| VNQ · VANGUARD SPECIALIZED FUNDS | 0.08% | 4,622,751 SH | Aug. 8, 2026 | Daily |
| REET · iShares Trust | 0.08% | 334,049 SH | Aug. 8, 2026 | Daily |
| GSSC · Goldman Sachs ETF Trust | 0.07% | 74,811 NS | May 31, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.06% | 56,984 NS | April 30, 2026 | N-PORT |
| DFGR · Dimensional ETF Trust | 0.06% | 244,298 NS | April 30, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.05% | 721,194 SH | Aug. 8, 2026 | Daily |
| ISCV · iShares Trust | 0.05% | 28,583 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.05% | 3,259,027 SH | Aug. 8, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.04% | 10,890 | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.03% | 53,770 NS | April 30, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.03% | 713,113 NS | May 31, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.03% | 5,840 NS | May 31, 2026 | N-PORT |
| VBR · VANGUARD INDEX FUNDS | 0.03% | 1,992,821 SH | Aug. 8, 2026 | Daily |
| SMLF · iShares Trust | 0.02% | 83,188 SH | Aug. 8, 2026 | Daily |
| ISCB · iShares Trust | 0.02% | 5,482 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.02% | 1,721,666 SH | Aug. 8, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.02% | 3,140,206 SH | Aug. 8, 2026 | Daily |
| UWM · ProShares Trust | 0.02% | 4,567 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.01% | 4,619 NS | May 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.01% | 6,934 SH | Aug. 8, 2026 | Daily |
| FNDB · SCHWAB STRATEGIC TRUST | 0.01% | 12,410 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 6,665 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.01% | 116 NS | May 31, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 47,598 SH | Aug. 8, 2026 | Daily |
| ITOT · iShares Trust | 0.00% | 218,975 SH | Aug. 8, 2026 | Daily |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 87,482 NS | May 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.00% | 154 NS | April 30, 2026 | N-PORT |