TROW T. Rowe Price Group, Inc. - Common Stock
About T. Rowe Price Group, Inc. - Common Stock Company overview from Wikipedia
T. Rowe Price Group, Inc. is an American publicly owned global investment management firm that offers funds, subadvisory services, separate account management, and retirement plans and services for individuals, institutions, and financial intermediaries. The firm has assets under management of more than $1.51 trillion and annual revenues of $6.48 billion as of 2023, placing it 537 on the Fortune 1000 list of the largest U.S. companies. Headquartered at 1307 Point Street in Baltimore, Maryland, it has 7,868 employees across 17 international offices with clients in 55 countries.
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T. Rowe Price Group, Inc. is an American publicly owned global investment management firm that offers funds, subadvisory services, separate account management, and retirement plans and services for individuals, institutions, and financial intermediaries. The firm has assets under management of more than $1.51 trillion and annual revenues of $6.48 billion as of 2023, placing it 537 on the Fortune 1000 list of the largest U.S. companies. Headquartered at 1307 Point Street in Baltimore, Maryland, it has 7,868 employees across 17 international offices with clients in 55 countries.
The firm was founded in 1937 by Thomas Rowe Price Jr. who is best known for developing the growth stock philosophy of investing. As of 2019, the company is focused on active management after strategically deciding against a major initiative in passive investment.
T. Rowe Price was named one of the best places to work in money management by Pensions & Investments and was one of Fortune' most admired companies in 2020. Listed on Nasdaq under the stock ticker TROW since 1986, T. Rowe Price is a component of the Nasdaq Financial-100 and S&P 500 indices.
Business philosophy
Thomas Rowe Price Jr. started in finance in the 1920s as an entry-level researcher and account manager at Baltimore-area brokerages, but disliked the operating models of sales-oriented firms at the time. When he founded T. Rowe Price & Associates in 1937, his firm diverged from the norm in three major ways: charging fees based on assets under management rather than sales volume, actively managing his clients' accounts strictly as a fiduciary, and investing in growth stocks instead of value stocks. He became well known as the "father of growth investing" and was nicknamed the "Sage of Baltimore" by Forbes.
History
1937–1986
Thomas Rowe Price, Jr. founded T. Rowe Price & Associates in Baltimore in 1937. The firm was originally headquartered at 10 Light Street and staffed by a small pool of associates, many of whom left Legg Mason's precursor, MacKubin, Legg and Co., along with Price. Initially a very small firm focused on wealth management, and private investment accounts for Baltimore-area families, the company struggled during the Great Depression and World War II before gaining solid footing at the end of the 1940s. By 1950, its clientele grew too large for the staff to manage accounts individually, so the firm incorporated and launched its first mutual fund, the T. Rowe Price Growth Stock Fund.
Gaining traction in Baltimore and along the U.S. eastern seaboard, the firm continued a steady expansion of clientele, staff, and geographic reach. By 1960, Price opened a second fund, named the New Horizons Fund, focused on growth investment opportunities, and especially technology firms like Xerox, IBM, and Boeing. In need of more room, the headquarters were moved in 1962 to the new One Charles Center building designed by Ludwig Mies van der Rohe nearby in downtown Baltimore. At the same time, Price began to prepare for retirement, resigning as president of the firm in 1963, delegating some responsibilities, and selling his shares in the company. Despite this, Price maintained an active presence in the firm for several years and urged the opening of the New Era Fund in 1969 as a response to the rapid inflation he predicted would dominate the 1970s. In 1971, the year Price completely retired, T. Rowe Price opened its Fixed Income Division, and began to modernize and diversify its operations.
In the 1970s and early 1980s, T. Rowe Price kicked off more assertive growth than before, moving to its current location at 100 East Pratt Street and opening its first international office. In 1979, T. Rowe Price launched a joint venture with British asset manager Robert Fleming & Co. named Rowe Price-Fleming International. The venture, which managed $39 billion at its height in 2000, allowed T. Rowe Price to offer a broader range of services and expertise internationally.
1986–2010
T. Rowe Price held its initial public offering, valued at nearly $200 million, in 1986. Shortly thereafter, the firm began establishing larger office complexes in the U.S. and research offices around the world, beginning with a Hong Kong office in 1987. Retirement Plan Services were launched in the 1990s alongside additional new services and funds, including mutual funds acquired from other companies such as USF&G. This momentum, and the firm reaching $100 billion assets under management, pushed T. Rowe Price to create an asset management partnership with Sumitomo Bank and Daiwa Securities in Tokyo in 1999, and to purchase 100% interest of the London-based Rowe Price-Fleming International, which was renamed T. Rowe Price International. Also in 1999, T. Rowe Price was added to the S&P 500 Index.
T. Rowe Price largely avoided the dot-com bubble of 2000. The Wall Street Journal expressed surprise at the firm's moderation with avoiding concentrated holdings in trendy internet technology stocks, in an article published a week before the markets began to crash in March 2000.
In 2001, the company launched T. Rowe Price Funds SICAV, domiciled in Luxembourg, for non-U.S. institutional investors and financial intermediaries. Two years later it created target-date retirement funds. In 2010, T. Rowe Price bought a significant interest in Unit Trust of India, India's oldest mutual fund company and one of its five largest. Since 2000, T. Rowe Price has opened global offices in locations ranging from Madrid and Dubai to Stockholm and Sydney.
2010–present
As of 2019, T. Rowe Price has continued to focus on active management rather than passive management. Since 2010, T. Rowe Price increased its assets under management from $400 billion to $1.73 trillion and annual revenues increased more than 10 percent to $6.48 billion, placing it 537 on the Fortune 1000 list of the largest U.S. companies.
As of March 17, 2025, T. Rowe Price relocated its headquarters from 100 East Pratt Street to its new global headquarters at 1307 Point Street.
Branding and sponsorships
T. Rowe Price's corporate logo since 1983 is a bighorn sheep affectionately known within the firm as Trusty. The firm explained its symbol, "Known for its sure-footed agility and sharp vision, the bighorn sheep's ability to navigate challenging terrain with purpose and independence is an apt reflection of T. Rowe Price's mission and positioning."
The firm was announced as the first-ever jersey sponsor of the Baltimore Orioles on June 10, 2024. A circular dark blue, aqua and white sleeve patch with Trusty on it debuted in a home game against the Atlanta Braves the following night on June 11.
Awards and recognition
2017 Ranked one of the World's Most Admired Companies by Fortune
2016 Top Companies for Women Technologists by the Anita Borg Institute Leadership Index
2015 P&I Best Places to Work in Money Management by Pension&Investments
2015 Best Employers for Healthy Lifestyle by the National Business Group on Health
Notable people
Board of directors
Glenn August, Founder and CEO of Oak Hill Advisors, L.P.
Mark S. Bartlett, Former Managing Partner of Ernst & Young
William P. Donnelly, Former Executive Vice President of Mettler-Toledo
Dina Dublon, Former Vice President and Chief Financial Officer of JPMorgan Chase & Co.
Robert F. MacLellan, Chairman of Northleaf Capital Partners
Eileen Rominger, Former Senior Advisor of CamberView Partners
Rob Sharps, President, and CEO of T. Rowe Price
Cynthia Smith, Senior Vice President, Regional Business and Distribution Development of MetLife
Robert J. Stevens, Former Chairman and CEO of Lockheed Martin
Sandra S. Wijnberg, Executive Adviser at Aquiline Capital Partners LLC
Alan D. Wilson, Former President of McCormick & Company
Others
Eddie C. Brown, former portfolio manager at T. Rowe Price, Founder and President of Brown Capital Management, and noted philanthropist
Abby Joseph Cohen, former research director at T. Rowe Price, named Institutional Investor's top strategist in the late 1990s.
Roger McNamee, former manager of the T. Rowe Price Science & Technology Fund who since founded the venture capital firm Elevation Partners
Mary J. Miller, former director of the firm's Fixed Income Division who left to work for the U.S. Department of the Treasury, becoming Assistant Secretary of the Treasury for Financial Markets, then Under Secretary of the Treasury for Domestic Finance, and finally the Deputy Secretary of the Treasury.
Olympia Snowe, former board member of T. Rowe Price and former US Senator and founder of Olympia Snowe LLC
Alfred Sommer, former board member of T. Rowe Price and noted epidemiologist at the Johns Hopkins Bloomberg School of Public Health
Richard Verma, former board member of T. Rowe Price and former U.S. Ambassador to India, Vice Chairman and Partner of The Asia Group
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
TROW Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
TROW 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 |
|---|---|
| June 15, 2026 | $1.3000 |
| March 16, 2026 | $1.3000 |
| Dec. 15, 2025 | $1.2700 |
| Sept. 15, 2025 | $1.2700 |
| June 13, 2025 | $1.2700 |
| March 14, 2025 | $1.2700 |
| Dec. 13, 2024 | $1.2400 |
| Sept. 13, 2024 | $1.2400 |
| June 14, 2024 | $1.2400 |
| March 14, 2024 | $1.2400 |
| Dec. 14, 2023 | $1.2200 |
| Sept. 14, 2023 | $1.2200 |
| June 14, 2023 | $1.2200 |
| March 14, 2023 | $1.2200 |
| Dec. 15, 2022 | $1.2000 |
| Sept. 14, 2022 | $1.2000 |
| June 14, 2022 | $1.2000 |
| March 14, 2022 | $1.2000 |
| Dec. 15, 2021 | $1.0800 |
| Sept. 14, 2021 | $1.0800 |
TROW Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 0 0.0%
- Buy 0 0.0%
- Hold 11 57.9%
- Sell 6 31.6%
- Strong Sell 2 10.5%
12-Month Price Target
12 analysts · 2026-08-17Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $2.57 | $2.55 | 0.02% |
| March 31, 2026 | $2.52 | $2.40 | 0.12% |
| Dec. 31, 2025 | $2.44 | $2.52 | -0.08% |
| Sept. 30, 2025 | $2.81 | $2.56 | 0.25% |
| June 30, 2025 | $2.24 | $2.18 | 0.06% |
| March 31, 2025 | $2.23 | $2.17 | 0.06% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| TROW | $22.38B | 11.1 | 3.1% | 28.5% | 19.7% | — |
| STT | $36.00B | 13.7 | 7.3% | 21.1% | 10.7% | — |
| AMP | $44.75B | 13.5 | 5.5% | 18.8% | 56.4% | — |
| KKR | $113.64B | — | -11.0% | 12.2% | 8.7% | — |
| NTRS | — | — | — | — | — | — |
| ARES | — | — | 28.9% | 11.1% | 13.5% | — |
| TPG | — | — | — | — | — | — |
| OWL | — | 149.4 | 7.6% | 13.9% | 3.6% | — |
| CG | — | — | — | — | — | — |
| BEN | $12.05B | 25.4 | 3.5% | 6.0% | 4.3% | — |
| PS | — | — | — | — | — | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.31B | $7.09B | $6.46B | $6.49B | $7.67B | $6.21B | $5.62B | $5.37B | $4.85B | $4.28B | · | · | |
| Operating Expenses | $5.13B | $4.76B | $4.47B | $4.11B | $3.96B | $3.46B | $3.23B | $3.01B | $2.75B | $2.55B | $2.30B | $2.09B | |
| Operating Income | $2.19B | $2.33B | $1.99B | $2.37B | $3.71B | $2.75B | $2.39B | $2.36B | $2.11B | $1.73B | $1.90B | $1.89B | |
| Other Non-op | $2M | $-7M | $-16M | $-17M | $-6M | $-2M | $7M | $-3M | $4M | $-2M | $-3M | $-2M | |
| Pretax Income | $2.88B | $2.82B | $2.49B | $1.95B | $3.99B | $3.24B | $2.93B | $2.38B | $2.51B | $1.96B | $2.00B | $2.00B | |
| Income Tax | $667M | $684M | $655M | $499M | $896M | $719M | $678M | $616M | $924M | $706M | $779M | $774M | |
| Net Income | $2.09B | $2.10B | $1.79B | $1.56B | $3.08B | $2.37B | $2.13B | $1.84B | $1.50B | $1.22B | $1.22B | $1.23B | |
| EPS (Basic) | $9.26 | $9.18 | $7.78 | $6.73 | $13.25 | $10.08 | $8.82 | $7.41 | $6.07 | $4.85 | $4.74 | $4.68 | |
| EPS (Diluted) | $9.24 | $9.15 | $7.76 | $6.70 | $13.12 | $9.98 | $8.70 | $7.27 | $5.97 | $4.75 | $4.63 | $4.55 | |
| Shares (Basic) | 220,000,000 | 222,800,000 | 224,100,000 | 226,000,000 | 226,600,000 | 228,800,000 | 235,400,000 | 242,200,000 | 241,200,000 | 245,500,000 | 254,600,000 | 259,600,000 | |
| Shares (Diluted) | 220,300,000 | 223,300,000 | 224,800,000 | 227,100,000 | 228,800,000 | 231,200,000 | 238,600,000 | 246,900,000 | 245,100,000 | 250,300,000 | 260,900,000 | 267,400,000 | |
| EBITDA | $2.19B | $2.33B | $1.99B | $2.37B | $3.71B | $2.75B | $2.39B | $2.36B | $2.11B | $1.73B | $1.90B | $1.89B |
Balance Sheet 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $3.38B | $2.65B | $2.07B | $1.76B | $1.52B | $2.15B | $1.78B | $1.43B | $1.90B | $1.20B | $1.17B | $1.51B | |
| PP&E (Net) | $845M | $977M | $807M | $756M | $736M | $695M | $674M | $661M | $652M | $615M | $607M | $586M | |
| PP&E (Gross) | $3.00B | $2.84B | $2.48B | $2.33B | $2.19B | $1.97B | $1.82B | $1.68B | $1.60B | $1.44B | $1.31B | $1.18B | |
| Accum. Depreciation | $2.15B | $1.86B | $1.68B | $1.57B | $1.46B | $1.27B | $1.14B | $1.01B | $945M | $820M | $706M | $591M | |
| Goodwill | $2.64B | $2.64B | $2.64B | $2.64B | $2.69B | $666M | $666M | $666M | $666M | $666M | $666M | · | |
| Intangibles | $274M | $368M | $507M | $630M | $913M | $0 | · | · | · | · | · | · | |
| Total Assets | $14.34B | $13.47B | $12.28B | $11.64B | $12.51B | $10.66B | $9.33B | $7.69B | $7.54B | $6.22B | $5.11B | $5.64B | |
| Total Liabilities | $2.29B | $2.02B | $1.99B | $1.96B | $2.26B | $1.39B | $1.11B | $825M | $718M | $529M | $345M | $249M | |
| Common Stock | $44M | $45M | $45M | $45M | $46M | $46M | $47M | $48M | $49M | $49M | $50M | $52M | |
| AOCI | $-50M | $-52M | $-48M | $-53M | $-26M | $-23M | $-43M | $-42M | $-4M | $12M | $87M | $136M | |
| Stockholders' Equity | $10.86B | $10.35B | $9.51B | $8.84B | $9.02B | $7.71B | $7.10B | $6.12B | $5.82B | $5.01B | $4.76B | $5.40B | |
| Liabilities + Equity | $14.34B | $13.47B | $12.28B | $11.64B | $12.51B | $10.66B | $9.33B | $7.69B | $7.54B | $6.22B | $5.11B | $5.64B | |
| Shares Outstanding | 218,565,000 | 222,966,000 | · | · | · | · | 235,214,000 | 238,069,000 | 245,111,000 | 244,784,000 | 250,469,000 | 261,110,000 |
Cash Flow 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $217M | $247M | $266M | $285M | $275M | $246M | $207M | $197M | $152M | $162M | $149M | $133M | |
| Deferred Tax | $97M | $-88M | $9M | $-207M | $-56M | $14M | $33M | $-36M | $72M | $14M | $-43M | $-5M | |
| Amort. of Intangibles | · | · | · | · | $0 | · | · | · | · | · | · | · | |
| Restructuring | $177M | $0 | $0 | · | · | · | · | · | · | · | · | · | |
| Operating Cash Flow | $1.75B | $1.69B | $1.22B | $2.36B | $3.45B | $1.92B | $1.52B | $1.62B | $230M | $170M | $1.53B | $1.34B | |
| CapEx | $274M | $423M | $308M | $238M | $239M | $215M | $205M | $168M | $186M | $148M | $151M | $126M | |
| Investing Cash Flow | $230M | $-178M | $128M | $-42M | $-1.10B | $-36M | $-324M | $-876M | $39M | $106M | $109M | $-443M | |
| Stock Repurchased | $621M | $337M | $254M | $850M | $1.14B | $1.20B | $706M | $1.09B | $458M | $677M | $988M | $416M | |
| Net Stock Activity | $-621M | $-337M | $-254M | $-850M | $-1.14B | $-1.20B | $-706M | $-1.09B | $-458M | $-677M | $-988M | $-416M | |
| Dividends Paid | $1.14B | $1.14B | $1.12B | $1.11B | $1.70B | $846M | $734M | $694M | $563M | $541M | $1.06B | $462M | |
| Financing Cash Flow | $-1.28B | $-937M | $-1.08B | $-2.08B | $-2.99B | $-1.49B | $-833M | $-1.24B | $462M | $-176M | $-1.97B | $-792M | |
| Net Change in Cash | $704M | $569M | $269M | $250M | $-632M | $398M | $363M | $-510M | $735M | $98M | $-334M | $108M | |
| Taxes Paid | $595M | $723M | $632M | $794M | $949M | $643M | $677M | $644M | $858M | $681M | $779M | $764M | |
| Free Cash Flow | $1.48B | $1.26B | $911M | $2.12B | $3.21B | $1.70B | $1.32B | $1.45B | $43M | $22M | $1.36B | $1.17B |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 29.9% | 32.9% | 30.7% | 36.6% | 48.4% | 44.2% | 42.5% | 44.0% | · | · | · | · | |
| Net Margin | 28.5% | 29.6% | 27.7% | 24.0% | 40.2% | 38.2% | 37.9% | 34.2% | · | · | · | · | |
| Pretax Margin | 39.3% | 39.8% | 38.6% | 30.0% | 52.1% | 52.2% | 52.1% | 44.4% | · | · | · | · | |
| EBITDA Margin | 29.9% | 32.9% | 30.7% | 36.6% | 48.4% | 44.2% | 42.5% | 44.0% | · | · | · | · | |
| ROA | 15.0% | 16.3% | 14.9% | 12.9% | 26.6% | 23.7% | 25.1% | 24.1% | 21.8% | 21.4% | 22.8% | 23.0% | |
| ROE | 19.7% | 21.2% | 19.5% | 17.4% | 36.4% | 32.0% | 30.6% | 29.2% | 27.7% | 24.9% | 24.1% | 24.1% | |
| ROIC | 15.5% | 17.1% | 15.4% | 20.0% | 31.9% | 27.7% | 25.8% | 28.6% | 22.9% | 22.1% | 24.4% | 21.5% |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.5 | 0.6 | 0.5 | 0.5 | 0.7 | 0.6 | 0.7 | 0.7 | · | · | 0.0 | 0.0 |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 3.1% | 9.8% | -0.43% | -15.4% | 23.6% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 4.1% | -2.6% | 1.3% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 3.3% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 0.98% | 17.9% | 15.8% | -48.9% | 31.5% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 11.3% | -11.3% | -8.0% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | -1.5% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -0.62% | 17.4% | 14.8% | -49.5% | 29.9% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 10.2% | -12.0% | -9.0% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | -2.5% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 6.2% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $7.31B | $7.09B | $6.46B | $6.49B | $7.67B | $6.21B | $5.62B | $5.37B | $4.85B | $4.28B | $2.66B | $2.66B | |
| Net Income TTM | $2.09B | $2.10B | $1.79B | $1.56B | $3.08B | $2.37B | $2.13B | $1.84B | $1.50B | $1.22B | $1.22B | $1.23B | |
| Market Cap | $22.38B | · | · | · | · | · | $28.66B | $21.98B | $25.72B | $18.42B | $17.91B | $22.42B | |
| P/E | 11.1 | 12.4 | 13.9 | 16.3 | 15.0 | 15.2 | 14.0 | 12.7 | 17.6 | 15.8 | 15.4 | 18.9 | |
| P/S | 3.1 | · | · | · | · | · | 5.1 | 4.1 | 5.3 | 4.3 | 6.7 | 8.4 | |
| P/B | 2.1 | · | · | · | · | · | 4.0 | 3.6 | 4.4 | 3.7 | 3.8 | 4.2 | |
| P / Tangible Book | 2.8 | · | · | · | · | · | · | · | · | · | · | · | |
| P / Cash Flow | 12.8 | · | · | · | · | · | 18.8 | 13.6 | 112.1 | 108.0 | 11.9 | 17.4 | |
| P / FCF | 15.1 | · | · | · | · | · | 21.7 | 15.1 | 592.6 | 829.8 | 13.2 | 19.2 | |
| Dividend Yield | 5.1% | · | · | · | · | · | 2.6% | 3.2% | 2.2% | 2.9% | 5.9% | 2.1% | |
| Earnings Yield | 9.0% | 8.1% | 7.2% | 6.1% | 6.7% | 6.6% | 7.1% | 7.9% | 5.7% | 6.3% | 6.5% | 5.3% | |
| Payout Ratio | 54.8% | 54.1% | 62.7% | 71.1% | 55.2% | 35.6% | 34.4% | 37.8% | 37.6% | 44.5% | 86.6% | 37.6% | |
| Annual Payout | $1.14B | $1.14B | $1.12B | $1.11B | $1.70B | $846M | $734M | $694M | $563M | $541M | $1.06B | $462M |
Income Statement 12
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.91B | $1.86B | $1.93B | $1.89B | $1.72B | $1.76B | $1.82B | $1.79B | $1.73B | $1.75B | $1.64B | $1.67B | $1.61B | $1.54B | $1.52B | $1.59B | |
| Operating Expenses | $1.37B | $1.18B | $1.46B | $1.25B | $1.25B | $1.17B | $1.26B | $1.17B | $1.17B | $1.16B | $1.25B | $1.09B | $1.08B | $1.05B | $1.27B | $1.01B | |
| Operating Income | $540M | $680M | $471M | $643M | $478M | $596M | $568M | $614M | $565M | $587M | $387M | $581M | $534M | $484M | $253M | $575M | |
| Other Non-op | $-900.0K | $-800.0K | $-600.0K | $5M | $-9M | $7M | $-4M | $8M | $-6M | $-5M | $-1M | $-4M | $-7M | $-4M | $-5M | $400.0K | |
| Pretax Income | $910M | $632M | $613M | $882M | $714M | $667M | $573M | $826M | $645M | $776M | $647M | $584M | $640M | $620M | $389M | $492M | |
| Income Tax | $214M | $148M | $152M | $195M | $158M | $162M | $156M | $186M | $160M | $182M | $173M | $145M | $158M | $178M | $99M | $134M | |
| Net Income | $632M | $498M | $445M | $646M | $505M | $490M | $440M | $603M | $483M | $574M | $438M | $453M | $476M | $422M | $266M | $384M | |
| EPS (Basic) | $2.88 | $2.23 | $1.99 | $2.88 | $2.24 | $2.15 | $1.93 | $2.64 | $2.11 | $2.50 | $1.90 | $1.98 | $2.07 | $1.83 | $1.16 | $1.67 | |
| EPS (Diluted) | $2.88 | $2.23 | $1.98 | $2.87 | $2.24 | $2.15 | $1.91 | $2.64 | $2.11 | $2.49 | $1.90 | $1.97 | $2.06 | $1.83 | $1.17 | $1.66 | |
| Shares (Basic) | 214,000,000 | 217,500,000 | -441,900,000 | 219,400,000 | 220,200,000 | 222,300,000 | -446,100,000 | 222,300,000 | 223,000,000 | 223,600,000 | -448,800,000 | 224,100,000 | 224,400,000 | 224,400,000 | -454,200,000 | 225,300,000 | |
| Shares (Diluted) | 214,200,000 | 217,600,000 | -442,400,000 | 219,700,000 | 220,400,000 | 222,600,000 | -447,200,000 | 222,800,000 | 223,500,000 | 224,200,000 | -450,400,000 | 224,800,000 | 225,200,000 | 225,200,000 | -456,900,000 | 226,300,000 | |
| EBITDA | $540M | $680M | · | $643M | $478M | $596M | · | $614M | $565M | $587M | · | $581M | $534M | $484M | · | $575M |
Balance Sheet 13
| 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 | $3.23B | $3.73B | $3.38B | $3.63B | $3.06B | $2.84B | $2.65B | $3.17B | $2.71B | $2.42B | · | $2.58B | $2.25B | $2.09B | · | $2.37B | |
| PP&E (Net) | $814M | $818M | $845M | $981M | $988M | $996M | $977M | $930M | $884M | $846M | · | $799M | $771M | $762M | · | $753M | |
| PP&E (Gross) | · | · | $3.00B | · | · | · | $2.84B | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $2.15B | · | · | · | $1.86B | · | · | · | · | · | · | · | · | · | |
| Goodwill | $2.64B | $2.64B | $2.64B | $2.64B | $2.64B | $2.64B | $2.64B | $2.64B | $2.64B | $2.64B | · | $2.64B | $2.64B | $2.64B | · | $2.65B | |
| Intangibles | $245M | $260M | $274M | $295M | $317M | $344M | $368M | $395M | $442M | $482M | · | $542M | $577M | $604M | · | $832M | |
| Total Assets | $15.36B | $14.39B | $14.34B | $14.73B | $14.34B | $13.99B | $13.47B | $13.71B | $13.09B | $12.85B | · | $12.56B | $12.62B | $12.16B | · | $11.99B | |
| Total Liabilities | $3.18B | $2.52B | $2.29B | $2.76B | $2.53B | $2.46B | $2.02B | $2.49B | $2.27B | $2.19B | · | $2.38B | $2.17B | $2.08B | · | $2.30B | |
| Common Stock | $43M | $43M | $44M | $44M | $44M | $44M | $45M | $44M | $44M | $45M | · | $45M | $45M | $45M | · | $45M | |
| AOCI | $-58M | $-52M | $-50M | $-46M | $-45M | $-52M | $-52M | $-40M | $-49M | $-50M | · | $-46M | $-48M | $-52M | · | $-56M | |
| Stockholders' Equity | $11.00B | $10.78B | $10.86B | $10.81B | $10.56B | $10.39B | $10.35B | $10.25B | $9.93B | $9.78B | · | $9.40B | $9.26B | $9.05B | · | $8.91B | |
| Liabilities + Equity | $15.36B | $14.39B | $14.34B | $14.73B | $14.34B | $13.99B | $13.47B | $13.71B | $13.09B | $12.85B | · | $12.56B | $12.62B | $12.16B | · | $11.99B | |
| Shares Outstanding | · | · | 218,565,000 | · | · | · | 222,966,000 | · | · | · | · | · | · | · | · | · |
Cash Flow 12
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $57M | |
| Stock-based Comp | $41M | $49M | $83M | $37M | $47M | $50M | $85M | $50M | $54M | $58M | $96M | $54M | $57M | $59M | $100M | $63M | |
| Restructuring | $7M | $10M | $149M | $28M | $0 | $0 | $0 | $0 | · | · | · | · | · | · | · | · | |
| Operating Cash Flow | $517M | $824M | $-19M | $609M | $530M | $633M | $-282M | $652M | $678M | $637M | $-157M | $470M | $395M | $512M | $-135M | $768M | |
| CapEx | $66M | $62M | $67M | $63M | $62M | $82M | $113M | $105M | $103M | $102M | $82M | $94M | $72M | $61M | $60M | $54M | |
| Investing Cash Flow | $-777M | $60M | $249M | $38M | $-9M | $-48M | $-22M | $-62M | $-85M | $-9M | $90M | $174M | $-78M | $-58M | $28M | $-44M | |
| Stock Repurchased | $167M | $334M | $139M | $154M | $113M | $215M | $68M | $74M | $112M | $83M | $113M | $91M | $42M | $8M | $122M | $218M | |
| Net Stock Activity | · | $-334M | · | · | · | $-215M | · | · | · | $-83M | · | · | · | $-8M | · | · | |
| Dividends Paid | $282M | $289M | $284M | $283M | $286M | $290M | $285M | $281M | $283M | $286M | $280M | $280M | $280M | $282M | $275M | $276M | |
| Financing Cash Flow | $-229M | $-502M | $-492M | $-98M | $-276M | $-411M | $-208M | $-153M | $-308M | $-268M | $-461M | $-297M | $-176M | $-144M | $-460M | $-486M | |
| Net Change in Cash | $-487M | $379M | $-267M | $553M | $243M | $175M | $-516M | $440M | $285M | $360M | $-526M | $344M | $140M | $312M | $-570M | $257M | |
| Free Cash Flow | · | $762M | · | · | · | $551M | · | · | · | $535M | · | · | · | $451M | · | · |
Profitability 7
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 28.3% | 36.6% | · | 34.0% | 27.8% | 33.8% | · | 34.4% | 32.6% | 33.5% | · | 34.8% | 33.1% | 31.5% | · | 36.2% | |
| Net Margin | 33.1% | 26.8% | · | 34.1% | 29.3% | 27.8% | · | 33.8% | 27.9% | 32.8% | · | 27.1% | 29.6% | 27.4% | · | 24.2% | |
| Pretax Margin | 47.7% | 34.0% | · | 46.6% | 41.4% | 37.8% | · | 46.3% | 37.2% | 44.3% | · | 35.0% | 39.7% | 40.3% | · | 31.0% | |
| EBITDA Margin | 28.3% | 36.6% | · | 34.0% | 27.8% | 33.8% | · | 34.4% | 32.6% | 33.5% | · | 34.8% | 33.1% | 31.5% | · | 36.2% | |
| ROA | 4.3% | 3.5% | · | 4.5% | 3.7% | 3.6% | · | 4.6% | 3.8% | 4.6% | · | 3.7% | 3.9% | 3.4% | · | 3.3% | |
| ROE | 5.9% | 4.7% | · | 6.1% | 4.9% | 4.9% | · | 6.1% | 5.0% | 6.1% | · | 5.0% | 5.2% | 4.7% | · | 4.5% | |
| ROIC | 3.8% | 4.8% | · | 4.6% | 3.5% | 4.3% | · | 4.6% | 4.3% | 4.6% | · | 4.7% | 4.3% | 3.8% | · | 4.7% |
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) 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $7.38B | $7.24B | · | $7.17B | $7.01B | $7.03B | · | $6.94B | $6.76B | $6.57B | · | $6.41B | $6.25B | $6.50B | · | $6.92B | |
| Net Income TTM | $2.28B | $2.14B | · | $2.24B | $2.08B | $2.15B | · | $2.11B | $1.99B | $1.92B | · | $1.74B | $1.62B | $1.71B | · | $2.07B | |
| P/E | 11.1 | 9.5 | · | 10.4 | 10.6 | 9.8 | · | 11.8 | 13.4 | 14.6 | · | 13.9 | 16.0 | 15.3 | · | 11.9 | |
| Earnings Yield | 9.0% | 10.5% | · | 9.7% | 9.5% | 10.2% | · | 8.5% | 7.5% | 6.9% | · | 7.2% | 6.3% | 6.5% | · | 8.4% | |
| Payout Ratio | · | 58.0% | · | · | · | 59.0% | · | · | · | 49.9% | · | · | · | 67.0% | · | · |
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 | $7.31B | $7.09B | $6.46B | $6.49B | $7.67B |
| Operating Margin % | 29.9% | 32.9% | 30.7% | 36.6% | 48.4% |
| Net Income | $2.09B | $2.10B | $1.79B | $1.56B | $3.08B |
| Diluted EPS | $9.24 | $9.15 | $7.76 | $6.70 | $13.12 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $1.48B | $1.26B | $911M | $2.12B | $3.21B |
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Institutional owners (13F) 1,249 filers · $14.3B 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 |
|---|---|---|---|---|
| 160 (+35 vs prior Q) | 78 (-39 vs prior Q) | 400 (-17 vs prior Q) | 410 (+37 vs prior Q) | +26.9M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| STATE STREET CORP | $1,665,953,914 | 14,653,478 | 11.61% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $1,588,554,671 | 13,972,686 | 11.07% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,141,766,501 | 10,042,805 | 7.96% | Shares |
| GOLDMAN SACHS GROUP INC | $836,688,253 | 7,359,383 | 5.83% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $814,405,582 | 7,163,388 | 5.68% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $630,195,148 | 5,563,108 | 4.39% | Shares |
| FIRST TRUST ADVISORS LP | $443,653,686 | 3,902,311 | 3.09% | Shares |
| PROVIDENT TRUST CO | $234,355,223 | 2,061,353 | 1.63% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $209,062,545 | 1,838,884 | 1.46% | Shares |
| ProShare Advisors LLC | $190,999,656 | 1,680,004 | 1.33% | Shares |
| AMERICAN CENTURY COMPANIES INC | $188,628,545 | 1,659,147 | 1.31% | Shares |
| Squarepoint Ops LLC | $173,891,129 | 1,529,520 | 1.21% | Shares |
| Allianz Asset Management GmbH | $162,392,977 | 1,428,384 | 1.13% | Shares |
| L.K. Benson & Company, P.C. | $136,824,209 | 1,203,485 | 0.95% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $136,667,545 | 1,202,107 | 0.95% | Shares |
| BANK OF AMERICA CORP /DE/ | $134,661,598 | 1,184,463 | 0.94% | Shares |
| Caisse de depot et placement du Quebec | $132,649,172 | 1,166,762 | 0.92% | Shares |
| WMS Partners, LLC | $108,492,482 | 959,346 | 0.76% | Shares |
| Fayez Sarofim & Co | $108,108,048 | 950,902 | 0.75% | Shares |
| CONFLUENCE INVESTMENT MANAGEMENT LLC | $106,155,277 | 933,726 | 0.74% | Shares |
| AMERIPRISE FINANCIAL INC | $99,136,683 | 871,967 | 0.69% | Shares |
| HB Wealth Management, LLC | $98,992,145 | 870,719 | 0.69% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $96,795,211 | 851,396 | 0.67% | Shares |
| TWO SIGMA INVESTMENTS, LP | $81,574,508 | 717,517 | 0.57% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $77,160,607 | 678,693 | 0.54% | Shares |
| National Pension Service | $70,433,684 | 619,524 | 0.49% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $68,982,885 | 606,763 | 0.48% | Shares |
| PFA Pension, Forsikringsaktieselskab | $66,885,887 | 588,318 | 0.47% | Shares |
| Legal & General Group Plc | $66,564,132 | 585,488 | 0.46% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $66,094,698 | 581,353 | 0.46% | Shares |
| MARATHON CAPITAL MANAGEMENT | $65,977,149 | 580,325 | 0.46% | Shares |
| WORLDQUANT MILLENNIUM ADVISORS LLC | $62,386,023 | 548,738 | 0.43% | Shares |
| Vest Financial, LLC | $61,585,077 | 541,693 | 0.43% | Shares |
| ASSETMARK, INC | $60,870,140 | 535,405 | 0.42% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $57,919,484 | 509,451 | 0.40% | Shares |
| VIRGINIA RETIREMENT SYSTEMS ET Al | $55,971,146 | 546,700 | 0.39% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $54,184,540 | 476,599 | 0.38% | Shares |
| NORGES BANK | $53,086,863 | 466,944 | 0.37% | Shares |
| Vanguard Global Advisers, LLC | $52,696,679 | 463,512 | 0.37% | Shares |
| NOMURA ASSET MANAGEMENT CO LTD | $51,781,588 | 455,463 | 0.36% | Shares |
| ANCHYRA PARTNERS LLC | $51,623,559 | 454,073 | 0.36% | Shares |
| Freestone Grove Partners LP | $50,301,572 | 442,445 | 0.35% | Shares |
| Quantinno Capital Management LP | $50,102,376 | 440,692 | 0.35% | Shares |
| BlackRock, Inc. | $49,683,667 | 437,010 | 0.35% | Shares |
| RHUMBLINE ADVISERS | $49,678,662 | 436,967 | 0.35% | Shares |
| California Public Employees Retirement System | $49,646,718 | 436,685 | 0.35% | Shares |
| DONALDSON CAPITAL MANAGEMENT, LLC | $46,748,886 | 411,196 | 0.33% | Shares |
| Fisher Asset Management, LLC | $45,109,967 | 396,780 | 0.31% | Shares |
| Nuveen Asset Management, LLC | $43,501,652 | 384,664 | 0.30% | Shares |
| BARCLAYS PLC | $43,221,982 | 380,174 | 0.30% | Shares |
| FRANKLIN RESOURCES INC | $41,388,390 | 364,046 | 0.29% | Shares |
| CITADEL ADVISORS LLC | $41,235,363 | 362,700 | 0.29% | Call option |
| FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ | $41,133,838 | 361,807 | 0.29% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $38,807,058 | 341,341 | 0.27% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $38,034,753 | 421,952 | 0.27% | Shares |
| ARGA Investment Management, LP | $35,822,923 | 315,093 | 0.25% | Shares |
| Grantham, Mayo, Van Otterloo & Co. LLC | $35,282,555 | 310,340 | 0.25% | Shares |
| JANE STREET GROUP, LLC | $34,823,247 | 306,300 | 0.24% | Call option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $34,698,188 | 305,200 | 0.24% | Call option |
| BANK OF NOVA SCOTIA | $34,378,833 | 302,391 | 0.24% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $34,129,738 | 300,200 | 0.24% | Put option |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $33,203,051 | 292,049 | 0.23% | Shares |
| ALPS ADVISORS INC | $32,780,351 | 288,331 | 0.23% | Shares |
| PNC Financial Services Group, Inc. | $31,056,697 | 273,170 | 0.22% | Shares |
| CHILTON INVESTMENT CO INC. | $30,464,713 | 267,963 | 0.21% | Shares |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $30,219,712 | 265,808 | 0.21% | Shares |
| Arbejdsmarkedets Tillaegspension | $30,065,775 | 264,454 | 0.21% | Shares |
| SCHRODER INVESTMENT MANAGEMENT GROUP | $29,865,795 | 262,695 | 0.21% | Shares |
| COMMONWEALTH EQUITY SERVICES, LLC | $28,641,460 | 251,926 | 0.20% | Shares |
| WEDGE CAPITAL MANAGEMENT L L P/NC | $28,393,920 | 314,998 | 0.20% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $28,393,736 | 249,747 | 0.20% | Shares |
| LPL Financial LLC | $28,258,004 | 248,553 | 0.20% | Shares |
| ALLIANCEBERNSTEIN L.P. | $27,794,579 | 308,349 | 0.19% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $27,652,622 | 243,228 | 0.19% | Shares |
| TUDOR INVESTMENT CORP ET AL | $26,448,842 | 232,640 | 0.18% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $25,322,060 | 222,729 | 0.18% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $25,126,472 | 215,256 | 0.18% | Shares |
| AVIVA PLC | $24,958,593 | 219,532 | 0.17% | Shares |
| MACKENZIE FINANCIAL CORP | $24,793,174 | 218,077 | 0.17% | Shares |
| Pictet Asset Management Holding SA | $23,531,781 | 206,978 | 0.16% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $22,596,115 | 198,752 | 0.16% | Shares |
| HighTower Advisors, LLC | $21,492,270 | 189,043 | 0.15% | Shares |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC | $21,324,265 | 187,565 | 0.15% | Shares |
| FIRST CITIZENS BANK & TRUST CO | $21,135,425 | 185,904 | 0.15% | Shares |
| Brandywine Global Investment Management, LLC | $20,879,787 | 203,944 | 0.15% | Shares |
| Envestnet Portfolio Solutions, Inc. | $19,787,403 | 174,047 | 0.14% | Shares |
| MILLENNIUM MANAGEMENT LLC | $19,781,378 | 173,994 | 0.14% | Shares |
| LBP AM SA | $19,053,648 | 167,593 | 0.13% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $18,903,009 | 166,268 | 0.13% | Shares |
| GABELLI FUNDS LLC | $18,372,304 | 161,600 | 0.13% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $18,191,537 | 160,010 | 0.13% | Shares |
| GUGGENHEIM CAPITAL LLC | $18,137,534 | 159,535 | 0.13% | Shares |
| Mediolanum International Funds Ltd | $17,731,759 | 155,025 | 0.12% | Shares |
| Capricorn Fund Managers Ltd | $17,656,057 | 155,300 | 0.12% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $17,633,980 | 155,075 | 0.12% | Shares |
| CITADEL ADVISORS LLC | $17,582,841 | 154,656 | 0.12% | Shares |
| Fidelity National Financial, Inc. | $16,826,120 | 148,000 | 0.12% | Shares |
| Illinois Municipal Retirement Fund | $16,800,881 | 147,778 | 0.12% | Shares |
| PINEBRIDGE INVESTMENTS LLC | $16,726,641 | 147,125 | 0.12% | Shares |
| ASR Vermogensbeheer N.V. | $16,583,030 | 145,867 | 0.12% | Shares |
Company insiders 49 insiders · 24 officers · 29 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| William J Stromberg | CEO and President | Dec. 10, 2018 F | 533,454 | 0 | 0 | $0 |
| George A Roche | COB & President | Dec. 22, 2006 G | 55,694 | 0 | 0 | $0 |
| Sebastien Page | Vice President | June 1, 2026 A | 171,855 | 0 | 0 | $0 |
| David Oestreicher | Corp Secretary and VP | Dec. 19, 2018 G | 86,028 | 0 | 0 | $0 |
| Edward C Bernard | Vice COB & Vice President | Dec. 19, 2018 G | 635,814 | 0 | 0 | $0 |
| Jessica M Hiebler | Principal Accounting Officer | Dec. 11, 2018 A | 10,717 | 0 | 0 | $0 |
| Robert W. Sharps | Vice President | Dec. 10, 2018 F | 424,077 | 0 | 0 | $0 |
| Edward A Wiese | Vice President | Dec. 10, 2018 F | 108,665 | 0 | 0 | $0 |
| Christopher D Alderson | Vice President | Dec. 10, 2018 A | 118,822 | 0 | 0 | $0 |
| Eric L Veiel | Vice President | Dec. 20, 2016 G | 49,732 | 0 | 0 | $0 |
| William W Strickland JR | Vice President | Dec. 10, 2015 F | 34,074 | 0 | 0 | $0 |
| John D. Linehan | Vice President | Dec. 26, 2014 M | 183,475 | 0 | 0 | $0 |
| Michael C. Gitlin | Vice President | Nov. 3, 2014 M | 167,521 | 0 | 0 | $0 |
| Wayne D Omelia | Vice President | Dec. 22, 2011 M | 559,390 | 0 | 0 | $0 |
| Mary J Miller | Vice President | Dec. 21, 2009 M | 955,811 | 0 | 0 | $0 |
| Joseph P Croteau | Vice President and Treasurer | Dec. 21, 2009 G | 117,770 | 0 | 0 | $0 |
| David J L Warren | Vice President | Dec. 15, 2008 M | 576,744 | 0 | 0 | $0 |
| Henry H Hopkins | Vice President | Feb. 14, 2008 M | 2,220,293 | 0 | 0 | $0 |
| Charles E Vieth | Vice President | Dec. 22, 2006 S | 765,589 | 0 | 0 | $0 |
| Melody L Jones | Vice President | Dec. 22, 2005 M | 1,011 | 0 | 0 | $0 |
| Michael A Goff | Vice President | June 4, 2004 M | 36,483 | 0 | 0 | $0 |
| David M Testa | Vice Chairman & Vice President | April 30, 2004 A | 1,177,426 | 0 | 0 | $0 |
| William T Reynolds | Vice President | April 30, 2004 A | 817,711 | 0 | 0 | $0 |
| John H Laporte | Vice President | April 6, 2004 A | 1,493,121 | 0 | 0 | $0 |
| Robert F. Maclellan | Director | June 30, 2026 A | 55,707 | 0 | 0 | $0 |
| Alan D Wilson | Director | June 30, 2026 A | 41,818 | 0 | 0 | $0 |
| William P Donnelly | Director | June 30, 2026 A | 13,184 | 0 | 0 | $0 |
| Robert J Stevens | Director | June 30, 2026 A | 25,246 | 0 | 0 | $0 |
| Cynthia F Smith | Director | June 29, 2026 A | 8,698 | 0 | 0 | $0 |
| Richard R. Verma | Director | June 29, 2026 A | 4,890 | 0 | 0 | $0 |
| Allan C. Golston | Director | June 29, 2026 A | 4,890 | 0 | 0 | $0 |
| Sandra S Wijnberg | Director | June 29, 2026 A | 32,024 | 0 | 0 | $0 |
| Dina Dublon | Director | June 29, 2026 A | 15,533 | 0 | 0 | $0 |
| Olympia J. Snowe | Director | Dec. 28, 2018 A | 16,847 | 0 | 0 | $0 |
| Freeman A Hrabowski III | Director | Dec. 28, 2018 A | 9,776 | 0 | 0 | $0 |
| Mary K Bush | Director | Dec. 28, 2018 A | 20,789 | 0 | 0 | $0 |
| Mark S. Bartlett | Director | April 27, 2018 A | 20,992 | 0 | 0 | $0 |
| Lawrence H Culp JR | Director | April 27, 2018 A | 8,942 | 0 | 0 | $0 |
| Dwight S Taylor | Director | March 29, 2018 A | 33,591 | 0 | 0 | $0 |
| Anne M Whittemore | Director | March 29, 2018 A | 25,074 | 0 | 0 | $0 |
| James A C Kennedy | Director | April 27, 2016 A | 1,340,183 | 0 | 0 | $0 |
| Alfred Sommer | Director | March 30, 2016 A | 24,154 | 0 | 0 | $0 |
| Donald B Hebb JR | Director | March 4, 2016 M | 29,099 | 0 | 0 | $0 |
| James T Brady | Director | Oct. 29, 2013 A | 24,566 | 0 | 0 | $0 |
| Alfred J Broaddus Jr | Director | March 27, 2013 A | 23,815 | 0 | 0 | $0 |
| James S Riepe | Director | April 6, 2006 G | 180,000 | 0 | 0 | $0 |
| William D J Garrett | Director | Oct. 29, 2004 A | — | 0 | 0 | $0 |
| Brian C Rogers | — | Dec. 10, 2018 F | 2,274,996 | 0 | 0 | $0 |
| Kenneth V Moreland | — | Jan. 2, 2018 M | 102,020 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 181 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 |
|---|---|---|---|---|
| SDOG · ALPS ETF Trust | 2.23% | 294,704 NS | May 31, 2026 | N-PORT |
| DVY · iShares Trust | 2.17% | 4,474,790 SH | Aug. 8, 2026 | Daily |
| SPHD · Invesco Exchange-Traded Fund Trust … | 1.98% | 592,933 SH | Aug. 8, 2026 | Daily |
| PEY · Invesco Exchange-Traded Fund Trust | 1.96% | 200,696 SH | Aug. 8, 2026 | Daily |
| TMDV · ProShares Trust | 1.82% | 769 NS | May 31, 2026 | N-PORT |
| QDIV · Global X Funds | 1.81% | 5,658 NS | May 31, 2026 | N-PORT |
| BMVP · Invesco Exchange-Traded Fund Trust | 1.71% | 15,772 SH | Aug. 8, 2026 | Daily |
| SNPD · DBX ETF Trust | 1.70% | 424 NS | May 29, 2026 | N-PORT |
| FXO · First Trust Exchange-Traded AlphaDE… | 1.69% | 176,801 NS | April 30, 2026 | N-PORT |
| NOBL · ProShares Trust | 1.55% | 1,636,281 NS | May 31, 2026 | N-PORT |
| NUMV · Nushares ETF Trust | 1.54% | 64,478 NS | April 30, 2026 | N-PORT |
| KNG · First Trust Exchange-Traded Fund IV | 1.51% | 494,544 NS | April 30, 2026 | N-PORT |
| RDIV · Invesco Exchange-Traded Fund Trust … | 1.36% | 166,329 SH | Aug. 8, 2026 | Daily |
| RSPF · Invesco Exchange-Traded Fund Trust | 1.27% | 34,393 SH | Aug. 8, 2026 | Daily |
| HDUS · Lattice Strategies Trust | 1.02% | 17,869 NS | April 30, 2026 | N-PORT |
| SPVM · Invesco Exchange-Traded Fund Trust | 1.02% | 11,751 SH | Aug. 8, 2026 | Daily |
| RFDA · ALPS ETF Trust | 1.00% | 8,334 NS | May 31, 2026 | N-PORT |
| FTA · First Trust Exchange-Traded AlphaDE… | 0.99% | 125,570 NS | April 30, 2026 | N-PORT |
| JOET · Virtus ETF Trust II | 0.80% | 18,452 NS | April 30, 2026 | N-PORT |
| VMAX · Lattice Strategies Trust | 0.77% | 3,477 NS | April 30, 2026 | N-PORT |
| AVMV · AMERICAN CENTURY ETF TRUST | 0.58% | 34,561 NS | May 31, 2026 | N-PORT |
| SCHD · SCHWAB STRATEGIC TRUST | 0.57% | 5,221,965 NS | May 31, 2026 | N-PORT |
| HDV · iShares Trust | 0.53% | 695,630 SH | Aug. 8, 2026 | Daily |
| AUSF · Global X Funds | 0.52% | 42,087 NS | May 31, 2026 | N-PORT |
| KRMA · Global X Funds | 0.52% | 5,939 NS | May 31, 2026 | N-PORT |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.49% | 6,623 NS | April 30, 2026 | N-PORT |
| OUSA · ALPS ETF Trust | 0.47% | 33,677 NS | May 31, 2026 | N-PORT |
| FEX · First Trust Exchange-Traded AlphaDE… | 0.47% | 68,144 NS | April 30, 2026 | N-PORT |
| SDVD · First Trust Exchange-Traded Fund IV | 0.44% | 35,373 NS | April 30, 2026 | N-PORT |
| VOE · VANGUARD INDEX FUNDS | 0.42% | 1,376,384 SH | Aug. 8, 2026 | Daily |
| AFLG · First Trust Exchange-Traded Fund VI… | 0.36% | 22,592 NS | May 31, 2026 | N-PORT |
| IYF · iShares Trust | 0.36% | 138,784 SH | Aug. 8, 2026 | Daily |
| IMCV · iShares Trust | 0.34% | 34,057 SH | Aug. 8, 2026 | Daily |
| IYG · iShares Trust | 0.33% | 64,351 SH | Aug. 8, 2026 | Daily |
| GMOV · GMO ETF Trust | 0.33% | 2,876 NS | May 31, 2026 | N-PORT |
| DEUS · DBX ETF Trust | 0.30% | 7,778 NS | May 29, 2026 | N-PORT |
| AVLV · AMERICAN CENTURY ETF TRUST | 0.29% | 358,822 NS | May 31, 2026 | N-PORT |
| VFH · VANGUARD WORLD FUND | 0.29% | 354,455 SH | Aug. 8, 2026 | Daily |
| REVS · Columbia ETF Trust I | 0.28% | 7,678 NS | April 30, 2026 | N-PORT |
| FNCL · FIDELITY COVINGTON TRUST | 0.27% | 57,341 NS | April 30, 2026 | N-PORT |
| AVMC · AMERICAN CENTURY ETF TRUST | 0.26% | 10,097 NS | May 31, 2026 | N-PORT |
| EBI · RBB Fund Trust | 0.25% | 15,695 NS | May 31, 2026 | N-PORT |
| OALC · Unified Series Trust | 0.25% | 5,780 NS | May 31, 2026 | N-PORT |
| VO · VANGUARD INDEX FUNDS | 0.24% | 4,643,204 SH | Aug. 8, 2026 | Daily |
| IWS · iShares Trust | 0.23% | 317,890 SH | Aug. 8, 2026 | Daily |
| SPHQ · Invesco Exchange-Traded Fund Trust | 0.23% | 389,296 SH | Aug. 8, 2026 | Daily |
| FAS · Direxion Shares ETF Trust | 0.22% | 41,821 NS | April 30, 2026 | N-PORT |
| CSM · ProShares Trust | 0.22% | 10,920 NS | May 31, 2026 | N-PORT |
| QARP · DBX ETF Trust | 0.21% | 1,510 NS | May 29, 2026 | N-PORT |
| SIZE · iShares Trust | 0.21% | 7,897 SH | Aug. 8, 2026 | Daily |