WELL Welltower Inc. Common Stock

NYSE · Real Estate · View on SEC EDGAR ↗
$234.85
Price · Aug 19, 2026
Fundamentals as of Jul 28, 2026
52W Range
$162–$255
78% of range
Analyst Rating
BUY
28 analysts
Price Target
$256
+9% upside
P/E (TTM)
169.0
ROE
2.6%
Net Profit Margin
8.9%

About Welltower Inc. Common Stock Company overview from Wikipedia

Welltower Inc. is a real estate investment trust that invests in healthcare infrastructure. As of December 31, 2022, the company had investments in approximately 3,000 properties, all of which were in the United States, Canada, and the United Kingdom.

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Welltower Inc. is a real estate investment trust that invests in healthcare infrastructure. As of December 31, 2022, the company had investments in approximately 3,000 properties, all of which were in the United States, Canada, and the United Kingdom.

History

Frederic D. "Fritz" Wolfe helped grow Wolfe Industries, a diversified, family-owned construction company from one Lima, Ohio lumberyard, investing in health-care real estate. The company began building nursing homes in 1963.

In 1970, Health Care Fund was founded in Lima by Wolfe and Bruce Thompson, as the first healthcare-focused real estate investment trust (REIT). In 1981, Wolfe also founded Health Care & Retirement Corp., later Manor Care Inc., now ProMedica Senior Care.

Health Care Fund changed its name to Health Care REIT in 1985, moving its headquarters to Toledo the following year. The company next became Welltower, in September 2015.

Health Care REIT was led by George Chapman from 1996 to 2014, when he retired and was succeeded by Thomas DeRosa.

Welltower is ranked 534th on the Fortune 500 in 2025.

Acquisitions

In 2011, the company acquired most real estate assets of Genesis HealthCare for $2.4 billion, adding 147 properties, including post-acute, skilled nursing, and assisted living facilities, in 11 states. Genesis continues to operate the properties.

In 2011, it formed a partnership valued at $890 million with Benchmark Senior Living, which included 34 private-pay senior housing complexes. In January 2015, the company acquired nine Benchmark Senior Living complexes in New England for $360 million.

In 2012, the company invested about $5 billion, primarily in private-pay senior housing and medical office buildings; $530 million purchased assets from Belmont Village Senior Living, and $240 million acquired a property portfolio from Brookdale Senior Living.

On January 8, 2013, the company acquired nearly all the real estate assets of Sunrise Senior Living in a $4.3 billion transaction, including 125 properties in large urban areas in the U.S., Canada, and the UK, with 120 owned properties and five joint-venture properties among them. In a related deal, Sunrise's property management business was recapitalized and spun-off to a partnership including Kohlberg Kravis Roberts and Coastwood Senior Housing Partners LLC, for $130 million. The company bought out their interests in late 2014 through a joint venture with Canadian senior living operator Revera, with Revera owning a 76% equity interest in the Sunrise Senior Living real estate management, and the remainder retained by Health Care REIT.

The company first partnered with Revera in May 2013 when it formed a joint venture to share ownership of 47 Revera retirement residences in Canada. The company bought a 75 percent interest in the approximately CAD$1.35 billion portfolio, with Revera owning the remaining 25 percent. In 2015, the joint venture then acquired Regal Lifestyle Communities for CAD$764 million, including 23 private-pay senior housing properties, thirteen properties in Ontario and seven in Quebec, totalling 3,600 units. One property each is located in British Columbia, Saskatchewan, and Newfoundland.

In early 2015, the company purchased all of Aspen Healthcare's four London hospitals for £226 million, including Holly House Hospital, Highgate Hospital, and Parkside Hospital and Cancer Centre, which were then leased back to Aspen for a 25-year terms.

In August 2015, Welltower formed a joint venture with the Canada Pension Plan Investment Board (CPPIB) to acquire a combined interest of 50.5 percent in a portfolio of medical office buildings in Southern California from healthcare REIT G&L Realty. In February 2016, Welltower formed another joint venture with the CPPIB to buy a 97.5 percent interest in senior housing run by Discovery Senior Living in Florida for $555 million. The remaining 2.5 percent equity was retained by Discovery, which operates all six properties, known as "Aston Gardens".

Welltower acquired 19 properties from Vintage Senior Living for $1.15 billion in the Los Angeles and San Francisco areas, in September 2016, making Welltower the largest owner of senior housing in the state.

In April 2018, Welltower and ProMedica acquired Healthpeak Properties spin-off Quality Care Properties, along with HCR ManorCare, for $4.4 billion.

In 2025, Welltower acquired Amica Senior Lifestyles from the Ontario Teachers' Pension Plan, for US$4.6 billion and, that June, it acquired NorthStar Healthcare Income REIT for $US900 million in cash.

According to researchers at Corporate Watch, Welltower’s acquisition of the UK’s largest care home providers HC-One and Barchester Healthcare in late 2025 made Welltower the largest single investor in the UK care home industry.[1] Barchester Healthcare was acquired for $6.875 billion, the largest ever care home deal.

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

Wikidata ↗

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

Price
$234.85
Market Cap
$163.57B
P/E (TTM)
169.0
EPS (TTM)
$1.39
Revenue (TTM)
$10.84B
Div Yield
1.1%
ROE
2.6%
Debt/Equity
—
52W Range
$162 – $255

WELL Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $10.84B
10-point trend, +153.2%
2016-12-31 → 2025-12-31
EPS $1.39
10-point trend, -50.5%
2016-12-31 → 2025-12-31
Free Cash Flow —
Margins 8.9%

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

Metric
5Y trend
WELL
Peer Median
P/E (TTM)
5-point trend, +21.4%
169.0
29.8
P/S (TTM)
5-point trend, +47.5%
15.1
6.3
P/B
5-point trend, +41.1%
3.9
1.7

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

Metric
5Y trend
WELL
Peer Median
Net Profit Margin
5-point trend, +12.3%
8.9%
15.7%
ROA
5-point trend, +46.8%
1.6%
2.6%
ROE
5-point trend, +16.6%
2.6%
4.6%

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
WELL
Peer Median

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

Metric
5Y trend
WELL
Peer Median
Revenue YoY
5-point trend, +128.5%
35.6%
—
Revenue CAGR 3Y
5-point trend, +128.5%
22.7%
—
Revenue CAGR 5Y
5-point trend, +128.5%
18.7%
—
EPS YoY
5-point trend, +78.2%
-11.5%
—
Net Income YoY
5-point trend, +156.8%
-1.1%
—

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

Metric
5Y trend
WELL
Peer Median
EPS (Diluted)
5-point trend, +78.2%
$1.39
—

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
WELL
Peer Median
Payout Ratio
5-point trend, -29.5%
195.2%
—

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

Dividend Yield
1.1%
Payout Ratio
195.2%
5Y Div CAGR
—
Ex-dateAmount
Aug. 12, 2026$0.8500
May 13, 2026$0.7400
Feb. 25, 2026$0.7400
Nov. 10, 2025$0.7400
Aug. 12, 2025$0.7400
May 14, 2025$0.6700
Feb. 25, 2025$0.6700
Nov. 13, 2024$0.6700
Aug. 12, 2024$0.6700
May 10, 2024$0.6100
Feb. 22, 2024$0.6100
Nov. 13, 2023$0.6100
Aug. 14, 2023$0.6100
May 15, 2023$0.6100
Feb. 27, 2023$0.6100
Nov. 17, 2022$0.6100
Aug. 22, 2022$0.6100
May 23, 2022$0.6100
Feb. 28, 2022$0.6100
Nov. 15, 2021$0.6100

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

BUY 28 analysts
  • Strong Buy 6 21.4%
  • Buy 17 60.7%
  • Hold 5 17.9%
  • Sell 0 0.0%
  • Strong Sell 0 0.0%

12-Month Price Target

22 analysts · 2026-08-14
Median target $260.00 +10.7%
Mean target $255.59 +8.8%

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

Avg Surprise
-0.06%
Period EPS Actual EPS Est Surprise
June 30, 2026 $0.61 $0.64 -0.03%
March 31, 2026 $1.02 $0.77 0.25%
Dec. 31, 2025 $0.14 $0.59 -0.45%
Sept. 30, 2025 $0.41 $0.53 -0.12%
June 30, 2025 $0.45 $0.46 -0.01%
March 31, 2025 $0.40 $0.41 -0.01%

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

Income Statement 14
Annual Income Statement data for WELL
Metric Trend 202520242023202220212020201920182017201620152014
Revenue 12-point trend, +224.1% $10.84B $7.99B $6.64B $5.86B $4.74B $4.61B $5.12B $4.70B $4.32B $4.28B $3.86B $3.34B
Cost of Revenue 9-point trend, +211.3% $6.49B $4.83B $3.95B $3.56B $2.77B $2.60B $2.69B $2.43B $2.08B · · ·
SG&A Expense 12-point trend, +1123.2% $1.75B $235M $179M $150M $127M $128M $127M $126M $122M $155M $147M $143M
Operating Expenses 12-point trend, +282.5% $11.32B $7.47B $6.29B $5.69B $4.57B $4.64B $4.58B $4.28B $4.02B $3.57B $3.22B $2.96B
Interest Income 10-point trend, +553.6% $246M $256M $168M $151M $138M · · $56M $74M $98M $84M $38M
Other Non-op 6-point trend, +4.0% · · $-108M $-102M $-42M $-70M $-53M $-113M · · · ·
Pretax Income 11-point trend, +36.5% · $524M $350M $173M $171M $-32M $543M $423M $300M $709M $636M $384M
Income Tax 12-point trend, -461.6% $-7M $3M $6M $7M $9M $10M $3M $9M $20M $-19M $6M $-1M
Net Income 12-point trend, +87.7% $962M $973M $358M $161M $374M $1.04B $1.33B $830M $541M $1.08B $889M $512M
EPS (Basic) 12-point trend, -3.4% $1.41 $1.58 $0.66 $0.31 $0.79 $2.36 $3.07 $2.03 $1.26 $2.83 $2.35 $1.46
EPS (Diluted) 12-point trend, -4.1% $1.39 $1.57 $0.66 $0.30 $0.78 $2.33 $3.05 $2.02 $1.26 $2.81 $2.34 $1.45
Shares (Basic) 12-point trend, +117.3% 665,639,000 602,975,000 515,629,000 462,185,000 424,976,000 415,451,000 401,845,000 373,620,000 367,237,000 358,275,000 348,240,000 306,272,000
Shares (Diluted) 12-point trend, +120.8% 679,521,000 608,750,000 518,701,000 465,158,000 426,841,000 417,387,000 403,808,000 375,250,000 369,001,000 360,227,000 349,424,000 307,747,000
EBITDA 6-point trend, +21.7% · · · · · · $1.03B $950M $922M $901M $826M $844M
Balance Sheet 14
Annual Balance Sheet data for WELL
Metric Trend 202520242023202220212020201920182017201620152014
Cash & Equivalents 12-point trend, +809.6% $5.03B $3.51B $1.99B $632M $269M $1.55B $285M $215M $244M $607M $423M $553M
Goodwill 12-point trend, +406.9% $346M $149M $68M $68M $68M $68M $68M $68M $68M $68M $68M $68M
Intangibles 12-point trend, +152.8% $909M $666M $515M $461M $503M $323M $436M $384M $377M $436M $469M $359M
Total Assets 12-point trend, +169.6% $67.30B $51.04B $44.01B $37.89B $34.91B $32.48B $33.38B $30.34B $27.94B $28.87B $29.02B $24.96B
Total Liabilities 12-point trend, +111.3% $24.10B $18.47B $17.64B $16.50B $15.91B $15.26B $16.40B $14.33B $12.64B $13.19B $13.66B $11.40B
Long-term Debt 11-point trend, +58.3% $19.20B $15.50B $15.74B $14.71B $13.91B $2.38B $13.42B $12.19B $11.04B $11.73B $12.12B ·
Common Stock 12-point trend, +111.8% $697M $637M $566M $492M $449M $419M $411M $384M $372M $363M $355M $329M
Paid-in Capital 11-point trend, +208.9% $50.90B $40.02B $32.74B $26.74B $23.13B $20.82B $20.19B $18.42B $17.66B $17.00B $16.48B ·
Retained Earnings 11-point trend, +196.1% $11.03B $10.10B $9.15B $8.80B $8.66B $8.33B $7.35B $6.12B $5.32B $4.80B $3.73B ·
Treasury Stock 12-point trend, -59.1% $14M $114M $112M $111M $108M $104M $79M $68M $65M $55M $44M $35M
AOCI 12-point trend, -273.5% $-288M $-360M $-163M $-120M $-121M $-149M $-112M $-130M $-111M $-170M $-88M $-77M
Stockholders' Equity 12-point trend, +219.8% $42.13B $31.96B $25.40B $20.29B $17.64B $15.97B $15.54B $14.63B $14.42B $14.81B $14.59B $13.18B
Liabilities + Equity 12-point trend, +169.6% $67.30B $51.04B $44.01B $37.89B $34.91B $32.48B $33.38B $30.34B $27.94B $28.87B $29.02B $24.96B
Shares Outstanding 12-point trend, +111.8% 696,507,255 635,289,329 564,241,181 490,508,937 447,239,477 417,400,602 410,256,615 383,674,603 371,731,551 362,602,173 354,777,670 328,790,066
Cash Flow 13
Annual Cash Flow data for WELL
Metric Trend 202520242023202220212020201920182017201620152014
D&A 12-point trend, +147.0% $2.08B $1.63B $1.40B $1.31B $1.04B $1.04B $1.03B $950M $922M $901M $826M $844M
Stock-based Comp 12-point trend, +4753.4% $1.56B $76M $37M $26M $18M $28M $25M $28M $19M $29M $31M $32M
Deferred Tax 12-point trend, -1159.6% $-50M $-7M $-2M $-11M $-1M $-1M $-10M $-7M $12M $-34M $-4M $-4M
Other Non-cash 6-point trend, -240.4% · · · · · · $-837M $-217M $-60M $-349M $-368M $-246M
Operating Cash Flow 12-point trend, +153.1% $2.88B $2.26B $1.60B $1.33B $1.28B $1.36B $1.54B $1.58B $1.43B $1.64B $1.38B $1.14B
Investing Cash Flow 12-point trend, -394.4% $-10.51B $-5.51B $-5.71B $-3.70B $-4.52B $2.35B $-2.05B $-2.39B $155M $-183M $-3.50B $-2.13B
Stock Issued 8-point trend, +0.2% · · · · $2.35B $595M $1.06B $790M $622M $534M $1.76B $2.34B
Stock Repurchased 5-point trend, +0.00 · · · $0 $0 $8M $0 $0 · · · ·
Net Stock Activity 9-point trend, -100.0% · · · $0 $2.35B $588M $1.06B $790M $622M $534M $1.76B $2.34B
Dividends Paid 12-point trend, +93.7% $1.88B $1.55B $1.26B $1.13B $1.04B $1.12B $1.40B $1.30B $1.28B $1.23B $1.14B $970M
Financing Cash Flow 12-point trend, +590.6% $9.00B $4.91B $5.45B $2.76B $1.57B $-2.08B $577M $818M $-1.91B $-1.25B $2.00B $1.30B
Net Change in Cash 12-point trend, +375.7% $1.50B $1.64B $1.35B $376M $-1.67B $1.64B $70M $7M $-298M $185M $-131M $315M
Taxes Paid 9-point trend, +118.7% $23M $8M $8M $3M $-5M $14M $14M $2M $10M · · ·
Profitability 5
Annual Profitability data for WELL
Metric Trend 202520242023202220212020201920182017201620152014
Net Margin 12-point trend, -42.1% 8.9% 12.2% 5.4% 2.7% 7.9% 22.6% 26.0% 17.6% 12.5% 25.3% 23.0% 15.3%
Pretax Margin 11-point trend, -42.9% · 6.6% 5.3% 2.9% 3.6% -0.69% 10.6% 9.0% 6.9% 16.6% 16.5% 11.5%
EBITDA Margin 6-point trend, -20.6% · · · · · · 20.1% 20.2% 21.3% 21.1% 21.4% 25.2%
ROA 11-point trend, -50.5% 1.6% 2.1% 0.87% 0.44% 1.1% 3.1% 4.2% 2.9% 1.9% 3.7% 3.3% ·
ROE 11-point trend, -59.4% 2.6% 3.4% 1.6% 0.85% 2.2% 6.6% 8.8% 5.7% 3.7% 7.4% 6.4% ·
Efficiency 1
Annual Efficiency data for WELL
Metric Trend 202520242023202220212020201920182017201620152014
Asset Turnover 11-point trend, +28.1% 0.2 0.2 0.2 0.2 0.1 0.1 0.2 0.2 0.2 0.1 0.1 ·
Per Share 6
Annual Per Share data for WELL
Metric Trend 202520242023202220212020201920182017201620152014
Book Value / Share 11-point trend, +47.1% $60.49 $50.30 $45.02 $41.38 $39.43 $38.27 $37.88 $38.14 $38.80 $40.83 $41.13 ·
Revenue / Share 12-point trend, +46.8% $15.95 $13.13 $12.80 $12.60 $11.11 $11.04 $12.68 $12.53 $11.70 $11.88 $11.05 $10.86
Cash Flow / Share 12-point trend, +14.6% $4.24 $3.71 $3.09 $2.86 $2.99 $3.27 $3.80 $4.22 $3.89 $4.52 $3.93 $3.70
Cash / Share 11-point trend, +610.4% $7.23 $5.52 $3.53 $1.29 $0.60 $3.70 $0.69 $0.56 $0.66 $1.16 $1.02 ·
Dividend Paid / Share 12-point trend, -11.3% $3 $3 $2 $2 $2 $3 $3 $3 $3 $3 $3 $3
EPS (TTM) 12-point trend, -4.1% $1.39 $1.57 $0.66 $0.30 $0.78 $2.33 $3.05 $2.02 $1.26 $2.81 $2.34 $1.45
Growth Rates 10
Annual Growth Rates data for WELL
Metric Trend 202520242023202220212020201920182017201620152014
Revenue YoY 5-point trend, +1103.7% 35.6% 20.4% 13.3% 23.6% 3.0% · · · · · · ·
Revenue CAGR 3Y 3-point trend, +75.6% 22.7% 19.0% 13.0% · · · · · · · · ·
Revenue CAGR 5Y 18.7% · · · · · · · · · · ·
EPS YoY 5-point trend, +82.8% -11.5% 137.9% 120.0% -61.5% -66.5% · · · · · · ·
EPS CAGR 3Y 3-point trend, +294.3% 66.7% 26.3% -34.3% · · · · · · · · ·
EPS CAGR 5Y -9.8% · · · · · · · · · · ·
Net Income YoY 5-point trend, +98.2% -1.1% 171.6% 123.0% -57.1% -63.9% · · · · · · ·
Net Income CAGR 3Y 3-point trend, +373.1% 81.6% 37.5% -29.9% · · · · · · · · ·
Net Income CAGR 5Y -1.5% · · · · · · · · · · ·
Dividend CAGR 5Y 10.9% · · · · · · · · · · ·
Valuation (TTM) 12
Annual Valuation (TTM) data for WELL
Metric Trend 202520242023202220212020201920182017201620152014
Revenue TTM 12-point trend, +224.1% $10.84B $7.99B $6.64B $5.86B $4.74B $4.61B $5.12B $4.70B $4.32B $4.28B $3.86B $3.34B
Net Income TTM 12-point trend, +87.7% $962M $973M $358M $161M $374M $1.04B $1.33B $830M $541M $1.08B $889M $512M
Market Cap 11-point trend, +435.6% $129.28B $80.07B $50.88B $32.15B $38.36B $26.97B $33.55B $26.63B $23.71B $24.27B $24.14B ·
P/E 12-point trend, +155.9% 133.5 80.3 136.6 218.5 110.0 27.7 26.8 34.4 50.6 23.8 29.1 52.2
P/S 11-point trend, +90.8% 11.9 10.0 7.7 5.5 8.1 5.9 6.6 5.7 5.5 5.7 6.3 ·
P/B 11-point trend, +85.5% 3.1 2.5 2.0 1.6 2.2 1.7 2.2 1.8 1.6 1.6 1.7 ·
P / Tangible Book 6-point trend, +82.7% 3.2 2.6 2.0 1.6 2.2 1.7 · · · · · ·
P / Cash Flow 11-point trend, +155.3% 44.9 35.5 31.8 24.2 30.1 19.8 21.8 16.8 16.5 14.9 17.6 ·
Dividend Yield 11-point trend, -69.4% 1.5% 1.9% 2.5% 3.5% 2.7% 4.2% 4.2% 4.9% 5.4% 5.1% 4.7% ·
Earnings Yield 12-point trend, -60.9% 0.75% 1.2% 0.73% 0.46% 0.91% 3.6% 3.7% 2.9% 2.0% 4.2% 3.4% 1.9%
Payout Ratio 12-point trend, +3.2% 195.2% 158.8% 352.0% 704.7% 277.0% 107.8% 105.6% 156.7% 236.3% 114.0% 128.8% 189.3%
Annual Payout 12-point trend, +93.7% $1.88B $1.55B $1.26B $1.13B $1.04B $1.12B $1.40B $1.30B $1.28B $1.23B $1.14B $970M

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

Income Statement
2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $10.84B$7.99B$6.64B$5.86B$4.74B
Net Income $962M$973M$358M$161M$374M
Diluted EPS $1.39$1.57$0.66$0.30$0.78

Latest News Recent headlines mentioning this company

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Institutional owners (13F) 1,706 filers · $110.6B 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
202 (-1 vs prior Q) 78 (-23 vs prior Q) 658 (+37 vs prior Q) 457 (+4 vs prior Q) +135.0M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
VANGUARD GROUP INC $15,813,805,137 85,199,101 14.30% Shares
VANGUARD CAPITAL MANAGEMENT LLC $10,467,623,529 46,118,974 9.46% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $9,861,748,449 43,449,568 8.91% Shares
STATE STREET CORP $9,564,245,706 42,138,810 8.65% Shares
Capital International Investors $8,965,880,965 39,500,055 8.10% Shares
Capital World Investors $4,545,947,796 20,028,842 4.11% Shares
NORGES BANK $4,118,820,958 18,146,984 3.72% Shares
GEODE CAPITAL MANAGEMENT, LLC $3,456,414,703 15,303,632 3.12% Shares
WELLINGTON MANAGEMENT GROUP LLP $2,934,540,297 12,929,199 2.65% Shares
FMR LLC $2,835,227,610 12,491,641 2.56% Shares
PRINCIPAL FINANCIAL GROUP INC $2,183,392,841 9,619,742 1.97% Shares
DIMENSIONAL FUND ADVISORS LP $1,773,709,541 7,814,730 1.60% Shares
Capital Research Global Investors $1,563,681,433 6,889,084 1.41% Shares
PeakShares LLC $1,363,409,000 6,007 1.23% Shares
CENTERSQUARE INVESTMENT MANAGEMENT LLC $1,225,291,871 5,398,475 1.11% Shares
VANGUARD FIDUCIARY TRUST CO $899,718,386 3,964,041 0.81% Shares
Resolution Capital Ltd $766,627,263 3,377,659 0.69% Shares
WCM INVESTMENT MANAGEMENT, LLC $762,167,447 3,346,803 0.69% Shares
Sumitomo Mitsui Trust Group, Inc. $715,128,678 3,150,763 0.65% Shares
AMERIPRISE FINANCIAL INC $624,831,836 2,752,616 0.56% Shares
CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC $617,322,539 2,719,842 0.56% Shares
BANK OF AMERICA CORP /DE/ $608,524,954 2,681,081 0.55% Shares
GOLDMAN SACHS GROUP INC $604,159,065 2,661,845 0.55% Shares
Mitsubishi UFJ Asset Management Co., Ltd. $529,838,768 2,334,400 0.48% Shares
CANADA PENSION PLAN INVESTMENT BOARD $528,399,551 2,328,059 0.48% Shares
JANE STREET GROUP, LLC $520,124,452 2,291,600 0.47% Call option
National Pension Service $457,359,757 2,015,067 0.41% Shares
Swiss National Bank $450,989,390 1,987,000 0.41% Shares
Legal & General Group Plc $399,158,296 1,758,639 0.36% Shares
APG Asset Management US Inc. $389,571,945 1,692,393 0.35% Shares
BlackRock, Inc. $388,787,808 1,712,948 0.35% Shares
California Public Employees Retirement System $352,253,808 1,551,984 0.32% Shares
Vanguard Global Advisers, LLC $345,654,429 1,522,908 0.31% Shares
ALLIANCEBERNSTEIN L.P. $341,700,018 1,728,289 0.31% Shares
AMERICAN CENTURY COMPANIES INC $331,045,732 1,458,544 0.30% Shares
VANGUARD ASSET MANAGEMENT, Ltd $311,333,841 1,371,696 0.28% Shares
Zurcher Kantonalbank (Zurich Cantonalbank) $305,436,253 1,345,712 0.28% Shares
RHUMBLINE ADVISERS $289,883,464 1,277,189 0.26% Shares
LASALLE INVESTMENT MANAGEMENT SECURITIES LLC $287,235,074 1,265,520 0.26% Shares
Universal- Beteiligungs- und Servicegesellschaft mbH $283,215,297 1,249,469 0.26% Shares
BAMCO INC /NY/ $279,640,658 1,232,060 0.25% Shares
BNP PARIBAS FINANCIAL MARKETS $258,145,010 1,137,353 0.23% Shares
Asset Management One Co., Ltd. $257,014,696 1,299,958 0.23% Shares
Zimmer Partners, LP $255,097,257 1,123,925 0.23% Shares
PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO $244,143,685 1,075,665 0.22% Shares
NORDEA INVESTMENT MANAGEMENT AB $238,130,995 1,042,240 0.22% Shares
Castle Hook Partners LP $228,729,925 1,007,754 0.21% Shares
Adelante Capital Management LLC $220,721,194 972,469 0.20% Shares
Holocene Advisors, LP $217,461,546 958,107 0.20% Shares
Pictet Asset Management Holding SA $214,587,652 945,445 0.19% Shares
Capital International, Inc./CA/ $214,302,804 944,190 0.19% Shares
ENVESTNET ASSET MANAGEMENT INC $207,986,386 916,367 0.19% Shares
Heitman Real Estate Securities LLC $207,841,195 915,721 0.19% Shares
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM $204,693,710 1,035,323 0.19% Shares
TD Asset Management Inc $203,771,169 897,789 0.18% Shares
Korea Investment CORP $203,171,969 895,149 0.18% Shares
JANE STREET GROUP, LLC $194,944,533 858,900 0.18% Put option
Nuveen, LLC $193,711,632 853,468 0.18% Shares
STRS OHIO $191,407,206 843,315 0.17% Shares
NOMURA ASSET MANAGEMENT INTERNATIONAL INC. $189,541,000 835,093 0.17% Shares
Vanguard Investments Australia, Ltd. $188,023,764 828,408 0.17% Shares
STOREBRAND ASSET MANAGEMENT AS $179,528,958 790,981 0.16% Shares
NEW YORK STATE COMMON RETIREMENT FUND $178,148,072 784,897 0.16% Shares
GOLDMAN SACHS GROUP INC $175,742,871 774,300 0.16% Put option
D. E. Shaw & Co., Inc. $170,250,878 750,103 0.15% Shares
AEW CAPITAL MANAGEMENT L P $169,055,654 744,837 0.15% Shares
CONGRESS ASSET MANAGEMENT CO $163,781,677 721,601 0.15% Shares
BARCLAYS PLC $162,578,837 716,301 0.15% Shares
Allianz Asset Management GmbH $160,062,649 705,215 0.14% Shares
RAYMOND JAMES FINANCIAL INC $144,636,090 637,248 0.13% Shares
1832 Asset Management L.P. $141,032,803 621,372 0.13% Shares
AVIVA PLC $139,838,260 616,109 0.13% Shares
MACQUARIE GROUP LTD $139,741,117 615,681 0.13% Shares
CI INVESTMENTS INC. $138,369,083 609,636 0.13% Shares
ADAGE CAPITAL PARTNERS GP, L.L.C. $133,822,874 589,606 0.12% Shares
STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM $133,268,840 587,165 0.12% Shares
NEUBERGER BERMAN GROUP LLC $132,122,717 582,115 0.12% Shares
Daiwa Securities Group Inc. $128,310,680 565,320 0.12% Shares
CITADEL ADVISORS LLC $126,913,453 559,164 0.11% Shares
JONES FINANCIAL COMPANIES LLLP $125,633,729 552,649 0.11% Shares
MILLENNIUM MANAGEMENT LLC $124,726,597 549,529 0.11% Shares
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND $124,318,959 547,733 0.11% Shares
Retirement Systems of Alabama $121,977,083 537,415 0.11% Shares
State of New Jersey Common Pension Fund D $117,818,538 519,093 0.11% Shares
PRUDENTIAL FINANCIAL INC $115,854,567 510,440 0.10% Shares
FRED ALGER MANAGEMENT, LLC $110,084,989 485,020 0.10% Shares
LPL Financial LLC $109,056,922 480,491 0.10% Shares
APG Asset Management N.V. $107,676,251 542,390 0.10% Shares
Nuveen Asset Management, LLC $106,156,849 842,314 0.10% Shares
TCW GROUP INC $103,259,094 454,946 0.09% Shares
FIRST TRUST ADVISORS LP $102,853,898 453,161 0.09% Shares
DUFF & PHELPS INVESTMENT MANAGEMENT CO $101,753,375 448,312 0.09% Shares
Resona Asset Management Co.,Ltd. $99,661,898 437,988 0.09% Shares
Balyasny Asset Management L.P. $94,060,907 414,420 0.09% Shares
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC $92,771,661 469,231 0.08% Shares
Zurich Insurance Group Ltd/FI $92,544,067 407,737 0.08% Shares
MANUFACTURERS LIFE INSURANCE COMPANY, THE $91,672,729 403,898 0.08% Shares
Mitsubishi UFJ Trust & Banking Corp $91,363,596 402,536 0.08% Shares
PRIMECAP MANAGEMENT CO/CA/ $87,498,979 385,509 0.08% Shares
STATE OF WISCONSIN INVESTMENT BOARD $85,327,102 375,940 0.08% Shares

Company insiders 46 insiders · 21 officers · 27 directors

Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Shankh Mitra CEO June 26, 2026 G 72,642 0 0 $0
Thomas J Derosa Chairman & CEO Feb. 14, 2020 M 343,558 0 0 $0
George L Chapman Chairman, CEO and President Feb. 6, 2014 F 275,980 0 0 $0
Timothy Mchugh Co-President and CFO Feb. 13, 2026 A 23,398 0 0 $0
John Goodey Chief Financial Officer March 13, 2019 S 48,094 0 0 $0
Scott A Estes EVP and CFO April 13, 2017 A 117,607 0 0 $0
Nikhil Chaudhri Co-President and CIO Feb. 13, 2026 A 449 0 0 $0
Raymond W Braun President Jan. 15, 2009 F 106,907 0 0 $0
John F. Burkart Vice Chairman and COO Feb. 13, 2026 A 1,644 0 0 $0
Jeffrey H Miller EVP-COO Jan. 31, 2017 M 120,302 0 0 $0
Joshua Fieweger SVP, Chief Accounting Officer Feb. 13, 2026 A 21,269 0 0 $0
Matthew Grant Mcqueen Chief Legal Officer Feb. 13, 2026 A 26,881 0 0 $0
Ayesha Menon EVP - Wellness Housing & Deve Feb. 23, 2023 A 8,763 0 0 $0
Mercedes Kerr EVP-Business Development Feb. 28, 2019 S 44,478 0 0 $0
Scott M Brinker EVP - Chief Investment Officer Dec. 31, 2016 F 102,550 0 0 $0
Erin C Ibele EVP-Head Human Cap.&Corp.Secy. June 17, 2016 S 63,256 0 0 $0
Charles J Herman JR EVP/Pres, Srs. Hous/Post Acute June 10, 2015 S 41,883 0 0 $0
Michael A Crabtree Sr. Vice President & Treasurer March 5, 2015 S 45,039 0 0 $0
Daniel R Loftus Senior Vice President Nov. 1, 2012 M 35,341 0 0 $0
John T Thomas EVP- Medical Facilities July 25, 2012 D 15,136 0 0 $0
Frederick L Farrar Executive Vice President Oct. 15, 2009 S 51,754 0 0 $0
Dennis G Lopez Director May 21, 2026 A 18,525 0 0 $0
Kenneth J Bacon Director May 1, 2026 C 14,306 0 0 $0
Andrew Gundlach Director Feb. 26, 2026 A 20,000 0 0 $0
Ade J. Patton Director Feb. 26, 2026 A 8,241 0 0 $0
Johnese Spisso Director Feb. 26, 2026 A 16,057 0 0 $0
Karen B Desalvo Director Feb. 26, 2026 A 12,370 0 0 $0
Sergio Rivera Director Feb. 26, 2026 A 26,611 0 0 $0
Kathryn M Sullivan Director Feb. 26, 2026 A 6,599 0 0 $0
Diana Reid Director March 1, 2024 A 10,773 0 0 $0
Philip L Hawkins Director March 1, 2024 A 4,462 0 0 $0
Jeffrey H Donahue Director March 3, 2022 A 49,123 0 0 $0
Sharon M Oster Director Feb. 12, 2021 A 43,469 0 0 $0
Scott R Trumbull Director Feb. 18, 2020 J 39,486 0 0 $0
Gary Whitelaw Director Feb. 7, 2019 A 10,040 0 0 $0
Timothy J Naughton Director Feb. 7, 2019 A 19,161 0 0 $0
Geoffrey G Meyers Director Feb. 7, 2019 A 10,109 0 0 $0
Judith C Pelham Director Feb. 7, 2019 A 13,588 0 0 $0
Fred S Klipsch Director Feb. 9, 2018 M 4,703 0 0 $0
Peter J Grua Director March 10, 2015 G 21,879 0 0 $0
BALLARD WILLIAM C JR Director Feb. 5, 2015 A 23,290 0 0 $0
Jeffrey Otten Director Feb. 6, 2014 A 7,212 0 0 $0
Pier C Borra Director Jan. 26, 2012 A 69,369 0 0 $0
Daniel A Decker Director Jan. 26, 2012 A — 0 0 $0
Paul D Nungester Jr — Feb. 15, 2018 A 29,989 0 0 $0
Bruce G Thompson — Aug. 24, 2005 M 5,507 0 0 $0

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

ETF ownership Held by 217 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
REZ · iShares Trust 24.29% 889,005 SH Aug. 8, 2026 Daily
RITA · ETF Series Solutions 14.10% 5,761 NS April 30, 2026 N-PORT
JRE · Janus Detroit Street Trust 12.84% 2,370 NS April 30, 2026 N-PORT
SPRE · Tidal Trust I 11.69% 115,789 NS May 31, 2026 N-PORT
IYR · iShares Trust 11.04% 2,119,672 SH Aug. 8, 2026 Daily
JPRE · J.P. Morgan Exchange-Traded Fund Tr… 11.04% 254,728 NS May 31, 2026 N-PORT
BBRE · J.P. Morgan Exchange-Traded Fund Tr… 10.25% 613,570 NS May 31, 2026 N-PORT
SCHH · SCHWAB STRATEGIC TRUST 9.62% 4,675,344 NS May 31, 2026 N-PORT
USRT · iShares Trust 9.20% 1,801,458 SH Aug. 8, 2026 Daily
REET · iShares Trust 8.99% 1,936,999 SH Aug. 8, 2026 Daily
REIT · ALPS ETF Trust 8.88% 22,666 NS May 31, 2026 N-PORT
FPRO · FIDELITY COVINGTON TRUST 8.72% 5,978 NS April 30, 2026 N-PORT
FREL · FIDELITY COVINGTON TRUST 8.60% 571,110 NS April 30, 2026 N-PORT
ICF · iShares Trust 8.57% 763,388 SH Aug. 8, 2026 Daily
VNQ · VANGUARD SPECIALIZED FUNDS 8.41% 26,553,698 SH Aug. 8, 2026 Daily
PSR · Invesco Actively Managed Exchange-T… 8.33% 21,088 Aug. 8, 2026 Daily
DFGR · Dimensional ETF Trust 7.80% 1,260,273 NS April 30, 2026 N-PORT
DFAR · Dimensional ETF Trust 7.50% 581,201 NS April 30, 2026 N-PORT
ERET · iShares Trust 7.02% 4,180 SH Aug. 8, 2026 Daily
DRN · Direxion Shares ETF Trust 6.89% 14,864 NS April 30, 2026 N-PORT
URE · ProShares Trust 6.87% 18,733 NS May 31, 2026 N-PORT
RNTY · Tidal Trust II 6.78% 1,589 NS April 30, 2026 N-PORT
AVRE · AMERICAN CENTURY ETF TRUST 6.68% 264,486 NS May 31, 2026 N-PORT
IQRA · New York Life Investments Active ET… 6.55% 2,082 NS April 30, 2026 N-PORT
VGSR · Manager Directed Portfolios 4.84% 112,353 NS March 31, 2026 N-PORT
HAUS · Tidal Trust I 4.82% 1,907 NS April 30, 2026 N-PORT
BWTG · ETF Opportunities Trust 4.10% 4,112 NS May 31, 2026 N-PORT
GQRE · FlexShares Trust 4.09% 72,114 NS April 30, 2026 N-PORT
RSPR · Invesco Exchange-Traded Fund Trust 3.64% 15,384 Aug. 8, 2026 Daily
AGNG · Global X Funds 3.07% 12,218 NS May 31, 2026 N-PORT
PPTY · ETF Series Solutions 2.85% 3,423 NS May 31, 2026 N-PORT
CAML · Professionally Managed Portfolios 2.57% 44,443 NS April 30, 2026 N-PORT
CAPE · DoubleLine ETF Trust 2.43% 32,062 NS March 31, 2026 N-PORT
BDIV · ETF Series Solutions 2.05% 592 NS April 30, 2026 N-PORT
CGDG · Capital Group Dividend Growers ETF 1.99% 490,662 NS May 31, 2026 N-PORT
NUDV · Nushares ETF Trust 1.93% 4,011 NS April 30, 2026 N-PORT
AMOM · Exchange Listed Funds Trust 1.87% 2,625 NS April 30, 2026 N-PORT
HOMZ · ETF Series Solutions 1.64% 2,720 NS May 31, 2026 N-PORT
USMV · iShares Trust 1.56% 1,598,921 SH Aug. 8, 2026 Daily
ESMV · iShares Trust 1.55% 516 SH Aug. 8, 2026 Daily
UPSD · ETF Series Solutions 1.49% 6,944 NS April 30, 2026 N-PORT
YOKE · EA Series Trust 1.43% 14,777 NS April 30, 2026 N-PORT
BLDG · Cambria ETF Trust 1.38% 3,252 NS April 30, 2026 N-PORT
NULC · Nushares ETF Trust 1.38% 3,612 NS April 30, 2026 N-PORT
FMAG · FIDELITY COVINGTON TRUST 1.26% 14,717 NS April 30, 2026 N-PORT
NULG · Nushares ETF Trust 1.16% 138,706 NS April 30, 2026 N-PORT
SNPG · DBX ETF Trust 1.15% 750 NS May 29, 2026 N-PORT
RPG · Invesco Exchange-Traded Fund Trust 1.10% 93,865 Aug. 8, 2026 Daily
RFFC · ALPS ETF Trust 1.09% 1,575 NS May 31, 2026 N-PORT
ACLC · AMERICAN CENTURY ETF TRUST 1.05% 15,742 NS May 31, 2026 N-PORT