WSBF Waterstone Financial, Inc. - Common Stock
$21.24
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026
52W Range
$14–$22
96% of range
Analyst Rating
HOLD
6 analysts
Price Target
—
P/E (TTM)
14.3
ROE
7.6%
Net Profit Margin
18.6%
WSBF Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$21.23
Market Cap
$390M
P/E (TTM)
14.3
EPS (TTM)
$1.48
Revenue (TTM)
—
Div Yield
2.8%
ROE
7.6%
Debt/Equity
—
52W Range
$14 – $22
WSBF Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
—
EPS
$1.48
2023-12-31
→
2025-12-31
Free Cash Flow
$23M
2023-12-31
→
2025-12-31
Margins
18.6%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
WSBF
Peer Median
P/E (TTM)
14.3
9.5
P/S (TTM)
2.7
1.3
P/B
1.1
0.9
Price / FCF
16.9
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
WSBF
Peer Median
Net Profit Margin
18.6%
1.5%
ROA
1.2%
0.32%
ROE
7.6%
3.4%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
WSBF
Peer Median
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
WSBF
Peer Median
Revenue YoY
4.8%
—
Revenue CAGR 3Y
-4.4%
—
Revenue CAGR 5Y
-13.8%
—
EPS YoY
46.5%
—
Net Income YoY
41.3%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
WSBF
Peer Median
Payout Ratio
40.8%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
2.8%
Payout Ratio
40.8%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| July 8, 2026 | $0.1700 |
| April 8, 2026 | $0.1700 |
| Jan. 8, 2026 | $0.1500 |
| Oct. 8, 2025 | $0.1500 |
| July 8, 2025 | $0.1500 |
| April 8, 2025 | $0.1500 |
| Jan. 8, 2025 | $0.1500 |
| Oct. 8, 2024 | $0.1500 |
| July 8, 2024 | $0.1500 |
| April 5, 2024 | $0.1500 |
| Jan. 5, 2024 | $0.1500 |
| Oct. 5, 2023 | $0.1500 |
| July 7, 2023 | $0.2000 |
| April 6, 2023 | $0.2000 |
| Jan. 6, 2023 | $0.2000 |
| Oct. 6, 2022 | $0.2000 |
| July 8, 2022 | $0.2000 |
| April 8, 2022 | $0.2000 |
| Jan. 7, 2022 | $0.7000 |
| Oct. 7, 2021 | $0.2000 |
WSBF Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
SELL
6 analysts
- Strong Buy 0 0.0%
- Buy 0 0.0%
- Hold 3 50.0%
- Sell 1 16.7%
- Strong Sell 2 33.3%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.07%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2025 | $0.43 | — | — |
| Sept. 30, 2024 | $0.26 | $0.31 | -0.05% |
| Sept. 30, 2023 | $0.16 | $0.23 | -0.07% |
| June 30, 2023 | $0.20 | $0.28 | -0.08% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| WSBF | $304M | 11.2 | 4.8% | 18.6% | 7.6% | — |
| AGM | — | 10.6 | 8.9% | 50.8% | 12.7% | — |
| UWMC | — | 36.5 | 18.2% | 0.87% | 1.6% | — |
| WD | $2.01B | 36.7 | 9.0% | 4.6% | 3.2% | — |
| VEL | $822M | 7.5 | 36.8% | 56.5% | 17.7% | — |
| ONIT | $390M | 2.1 | 9.3% | 17.8% | 34.2% | — |
| LDI | — | -4.6 | -93.7% | -609.7% | -15.2% | — |
| BETR | — | — | — | — | — | — |
| SNFCA | — | 7.2 | 3.0% | 9.3% | 8.4% | — |
| FOA | — | 6.5 | 26.1% | 9.1% | 10.4% | — |
| GHI | — | -13.2 | -6.4% | -8.9% | — | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Expense | · | · | $49M | $13M | $14M | $25M | $28M | $20M | $16M | $20M | $23M | $22M | |
| Interest Income | $116M | $113M | $99M | $70M | $70M | $78M | $80M | $74M | $67M | $64M | $62M | $64M | |
| Pretax Income | $33M | $24M | $11M | $24M | $92M | $108M | $48M | $40M | $44M | $42M | $26M | $20M | |
| Income Tax | $7M | $5M | $2M | $5M | $21M | $27M | $12M | $10M | $18M | $16M | $9M | $7M | |
| Net Income | $26M | $19M | $9M | $19M | $71M | $81M | $36M | $31M | $26M | $26M | $17M | $13M | |
| EPS (Basic) | $1.48 | $1.01 | $0.47 | $0.89 | $2.98 | $3.32 | $1.38 | $1.12 | $0.95 | $0.94 | $0.57 | $0.38 | |
| EPS (Diluted) | $1.48 | $1.01 | $0.46 | $0.89 | $2.96 | $3.30 | $1.37 | $1.11 | $0.93 | $0.93 | $0.56 | $0.38 | |
| Shares (Basic) | 17,837,000 | 18,556,000 | 20,158,000 | 21,884,000 | 23,741,000 | 24,464,000 | 26,021,000 | 27,363,000 | 27,467,000 | 27,037,000 | 29,161,000 | 33,406,000 | |
| Shares (Diluted) | 17,867,000 | 18,589,000 | 20,196,000 | 22,010,000 | 23,931,000 | 24,607,000 | 26,247,000 | 27,634,000 | 27,899,000 | 27,374,000 | 29,431,000 | 33,643,000 | |
| EBITDA | $3M | $2M | $3M | $4M | $6M | $6M | · | · | · | · | · | · |
Balance Sheet 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $64M | $35M | $31M | $34M | $343M | $56M | $53M | $48M | $49M | $47M | $100M | $173M | |
| PP&E (Net) | $19M | $19M | $20M | $21M | $22M | $24M | $25M | $25M | $23M | $24M | $25M | $26M | |
| PP&E (Gross) | $55M | $54M | $55M | $55M | $55M | $56M | $55M | $53M | $51M | $50M | $49M | $51M | |
| Accum. Depreciation | $36M | $35M | $35M | $33M | $33M | $32M | $30M | $29M | $28M | $26M | $24M | $25M | |
| Total Assets | $2.26B | $2.21B | $2.21B | $2.03B | $2.22B | $2.18B | $2.00B | $1.92B | $1.81B | $1.79B | $1.76B | $1.78B | |
| Short-term Debt | · | · | $147M | $1M | · | $29M | · | · | · | $8M | $7M | $0 | |
| Total Liabilities | $1.91B | $1.87B | $1.87B | $1.66B | $1.78B | $1.77B | $1.60B | $1.52B | $1.39B | $1.38B | $1.37B | $1.33B | |
| Long-term Debt | $412M | $447M | $611M | $387M | $477M | $508M | $484M | $435M | $386M | $387M | $441M | $434M | |
| Total Debt | · | · | $147M | · | · | $29M | · | · | · | $8M | $7M | $0 | |
| Common Stock | $184.0K | $193.0K | $203.0K | $222.0K | $248.0K | $251.0K | $271.0K | $285.0K | $295.0K | $294.0K | $294.0K | $344.0K | |
| Paid-in Capital | $78M | $91M | $104M | $129M | $175M | $181M | $212M | $232M | $327M | $323M | $317M | $314M | |
| Retained Earnings | $293M | $277M | $270M | $274M | $273M | $245M | $197M | $187M | $183M | $185M | $168M | $157M | |
| Treasury Stock | · | · | · | · | · | · | · | $98M | $79M | $77M | $73M | $0 | |
| AOCI | $-12M | $-19M | $-18M | $-19M | $-1M | $2M | $642.0K | $-2M | $-477.0K | $-378.0K | $582.0K | $1M | |
| Stockholders' Equity | $349M | $339M | $344M | $370M | $433M | $413M | $394M | $400M | $412M | $411M | $392M | $450M | |
| Liabilities + Equity | $2.26B | $2.21B | $2.21B | $2.03B | $2.22B | $2.18B | $2.00B | $1.92B | $1.81B | $1.79B | $1.76B | $1.78B | |
| Shares Outstanding | 18,359,717 | 19,343,251 | 20,314,786 | 22,174,225 | 24,795,124 | 25,087,976 | 27,148,000 | 28,463,000 | 29,501,000 | 29,430,000 | 29,407,000 | 34,420 |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $3M | $2M | $3M | $4M | $6M | $6M | $5M | $5M | · | · | · | · | |
| Stock-based Comp | $297.0K | $316.0K | $277.0K | $583.0K | $745.0K | $716.0K | $1M | $2M | $2M | $2M | $3M | $109.0K | |
| Deferred Tax | $714.0K | $980.0K | $-1M | $-484.0K | $1M | $-3M | $639.0K | $535.0K | $3M | $2M | $-154.0K | $4M | |
| Other Non-cash | $-6M | $26M | $-39M | $183M | $75M | $-185M | · | · | · | · | · | · | |
| Operating Cash Flow | $24M | $48M | $-28M | $207M | $142M | $-94M | $-40M | $42M | $107M | $-24M | $-13M | $-2M | |
| CapEx | $1M | $1M | $700.0K | $701.0K | $778.0K | $1M | $3M | $4M | $2M | $1M | $3M | $2M | |
| Investing Cash Flow | $-9M | $-24M | $-159M | $-336M | $160M | $37M | $-1M | $-78M | $-95M | $-25M | $-16M | $-75M | |
| Debt Issued | $130M | $170M | $259M | $200M | $0 | $0 | $165M | $255M | $175M | $100M | $0 | · | |
| Net Debt Issued | $40M | $-5M | $-45M | $-270M | $0 | $0 | $40M | $90M | $26M | · | · | · | |
| Stock Repurchased | $16M | $15M | $26M | $48M | $10M | $36M | $23M | $19M | $2M | $4M | $73M | $0 | |
| Net Stock Activity | $-16M | $-15M | $-26M | $-48M | $-10M | $-36M | $-23M | $-19M | $-2M | $4M | · | · | |
| Dividends Paid | $11M | $11M | $15M | $30M | $30M | $32M | $26M | $27M | $27M | $7M | $6M | · | |
| Financing Cash Flow | $16M | $-21M | $177M | $-201M | $-20M | $77M | $30M | $74M | $-11M | $-4M | $-43M | $-179M | |
| Net Change in Cash | $31M | $3M | $-10M | $-330M | $282M | $20M | $-12M | $37M | $1M | $-53M | $-72M | $-256M | |
| Taxes Paid | $5M | $2M | $1M | $4M | $23M | $29M | $11M | $10M | $17M | $14M | $8M | $4M | |
| Free Cash Flow | $23M | $47M | $-28M | $206M | $154M | $-102M | $-43M | $39M | $106M | $-25M | $-16M | $-4M | |
| Levered FCF | · | · | $-70M | $195M | $143M | $-121M | $-64M | $24M | $96M | $-37M | $-31M | $-18M |
Profitability 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 18.6% | 13.8% | 7.1% | 12.0% | 27.4% | 27.3% | 19.6% | 17.8% | 14.8% | 15.0% | 11.6% | 10.1% | |
| Pretax Margin | 23.6% | 17.7% | 8.4% | 15.1% | 35.6% | 36.3% | 26.0% | 23.4% | 25.4% | 24.7% | 18.0% | 15.8% | |
| EBITDA Margin | 1.8% | 1.8% | 2.5% | 2.5% | 2.3% | 1.9% | · | · | · | · | · | · | |
| ROA | 1.2% | 0.84% | 0.42% | 0.97% | 3.2% | 3.7% | 1.8% | 1.6% | 1.4% | 1.4% | 0.94% | 0.71% | |
| ROE | 7.6% | 5.5% | 2.7% | 5.2% | 16.2% | 20.0% | 9.2% | 7.6% | 6.3% | 6.2% | 4.2% | 2.8% |
Liquidity & Solvency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | · | · | 0.4 | · | · | 0.1 | · | · | · | 0.0 | 0.0 | 0.0 |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 4.8% | 3.1% | -19.1% | -37.2% | -13.0% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -4.4% | -19.4% | -23.8% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | -13.8% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 46.5% | 119.6% | -48.3% | -69.9% | -10.3% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 18.5% | -30.1% | -48.1% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | -14.8% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 41.3% | 99.3% | -51.9% | -72.5% | -12.8% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 10.7% | -35.9% | -51.3% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | -20.1% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | -19.3% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $142M | $135M | $131M | $163M | $259M | $298M | $183M | $172M | $175M | $170M | $143M | $126M | |
| Net Income TTM | $26M | $19M | $9M | $19M | $71M | $81M | $36M | $31M | $26M | $26M | $17M | $13M | |
| Market Cap | $304M | $260M | $288M | $382M | $542M | $472M | $517M | $477M | $503M | $542M | $415M | $453M | |
| Enterprise Value | · | · | $405M | · | · | $445M | · | · | · | $502M | $321M | $280M | |
| P/E | 11.2 | 13.3 | 30.9 | 19.4 | 7.4 | 5.7 | 13.9 | 15.1 | 18.3 | 19.8 | 25.2 | 34.6 | |
| P/S | 2.1 | 1.9 | 2.2 | 2.4 | 2.1 | 1.6 | 2.8 | 2.8 | 2.9 | 3.2 | 2.9 | 3.6 | |
| P/B | 0.9 | 0.8 | 0.8 | 1.0 | 1.3 | 1.1 | 1.3 | 1.2 | 1.2 | 1.3 | 1.1 | 1.0 | |
| P / Tangible Book | 0.9 | 0.8 | 0.8 | 1.0 | 1.3 | 1.1 | · | · | · | · | · | · | |
| P / Cash Flow | 12.6 | 5.4 | -10.5 | 1.8 | 3.5 | -4.7 | -12.8 | 11.1 | 4.7 | -22.5 | -31.9 | -204.3 | |
| P / FCF | 13.2 | 5.5 | -10.2 | 1.9 | 3.5 | -4.6 | -11.9 | 12.2 | 4.8 | -21.5 | -26.0 | -108.7 | |
| EV / EBITDA | · | · | 122.6 | · | · | 79.4 | · | · | · | · | · | · | |
| EV / FCF | · | · | -14.3 | · | · | -4.4 | · | · | · | -20.0 | -20.1 | -67.2 | |
| EV / Revenue | · | · | 3.1 | · | · | 1.5 | · | · | · | 3.0 | 2.2 | 2.2 | |
| Dividend Yield | 3.5% | 4.3% | 5.3% | 7.9% | 5.6% | 6.7% | 5.0% | 5.7% | 5.4% | 1.3% | 1.4% | · | |
| Earnings Yield | 8.9% | 7.5% | 3.2% | 5.2% | 13.5% | 17.5% | 7.2% | 6.6% | 5.5% | 5.1% | 4.0% | 2.9% | |
| Payout Ratio | 40.8% | 60.3% | 163.9% | 155.3% | 42.9% | 38.8% | 72.3% | 88.0% | 103.8% | · | · | · | |
| Annual Payout | $11M | $11M | $15M | $30M | $30M | $32M | $26M | $27M | $27M | $7M | $6M | · |
Income Statement 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Expense | · | · | · | · | · | · | · | · | · | $16M | · | $14M | $12M | $8M | · | $3M | |
| Interest Income | $30M | $29M | $30M | $30M | $29M | $28M | $29M | $29M | $28M | $27M | $27M | $26M | $24M | $22M | $21M | $18M | |
| Pretax Income | $11M | $8M | $10M | $10M | $10M | $4M | $6M | $6M | $7M | $5M | $-595.0K | $4M | $5M | $3M | $659.0K | $7M | |
| Income Tax | $2M | $2M | $2M | $2M | $2M | $845.0K | $996.0K | $1M | $1M | $2M | $-555.0K | $500.0K | $1M | $627.0K | $-277.0K | $2M | |
| Net Income | $8M | $6M | $8M | $8M | $8M | $3M | $5M | $5M | $6M | $3M | $-40.0K | $3M | $4M | $2M | $936.0K | $5M | |
| EPS (Basic) | $0.49 | $0.35 | $0.43 | $0.45 | $0.43 | $0.17 | $0.28 | $0.26 | $0.31 | $0.16 | $0.01 | $0.16 | $0.20 | $0.10 | $0.05 | $0.25 | |
| EPS (Diluted) | $0.49 | $0.34 | $0.43 | $0.45 | $0.43 | $0.17 | $0.28 | $0.26 | $0.31 | $0.16 | $0.00 | $0.16 | $0.20 | $0.10 | $0.05 | $0.25 | |
| Shares (Basic) | 17,114,000 | 17,373,000 | -36,058,000 | 17,639,000 | 17,989,000 | 18,267,000 | -37,339,000 | 18,350,000 | 18,524,000 | 19,021,000 | -41,114,000 | 19,998,000 | 20,384,000 | 20,890,000 | -44,716,000 | 21,342,000 | |
| Shares (Diluted) | 17,184,000 | 17,430,000 | -36,088,000 | 17,671,000 | 18,004,000 | 18,280,000 | -37,460,000 | 18,445,000 | 18,568,000 | 19,036,000 | -41,237,000 | 20,022,000 | 20,431,000 | 20,980,000 | -44,984,000 | 21,454,000 | |
| EBITDA | · | $917.0K | · | · | · | $711.0K | · | · | · | $486.0K | · | · | · | $815.0K | · | · |
Balance Sheet 16
| 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 | $33M | $39M | $64M | $50M | $63M | $37M | $35M | $36M | $36M | $41M | · | $56M | $53M | $46M | · | $37M | |
| PP&E (Net) | $19M | $19M | $19M | $19M | $19M | $19M | $19M | $19M | $20M | $20M | · | $20M | $20M | $21M | · | $21M | |
| PP&E (Gross) | · | · | $55M | · | · | · | $54M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $36M | · | · | · | $35M | · | · | · | · | · | · | · | · | · | |
| Total Assets | $2.25B | $2.25B | $2.26B | $2.27B | $2.26B | $2.18B | $2.21B | $2.24B | $2.29B | $2.23B | $2.21B | $2.22B | $2.23B | $2.11B | $2.03B | $1.98B | |
| Short-term Debt | · | · | · | · | · | · | · | $137M | $145M | $146M | · | $103M | · | · | · | · | |
| Total Liabilities | $1.90B | $1.90B | $1.91B | $1.92B | $1.92B | $1.83B | $1.87B | $1.90B | $1.95B | $1.90B | · | $1.88B | $1.87B | $1.75B | · | $1.60B | |
| Long-term Debt | $412M | $413M | $412M | $469M | $466M | $396M | $447M | $560M | $661M | $634M | · | $588M | $615M | $502M | · | $320M | |
| Total Debt | · | · | · | · | · | · | · | $137M | $145M | $146M | · | $103M | · | · | · | · | |
| Common Stock | $180.0K | $182.0K | $184.0K | $185.0K | $188.0K | $193.0K | $193.0K | $194.0K | $195.0K | $199.0K | · | $209.0K | $214.0K | $219.0K | · | $223.0K | |
| Paid-in Capital | $72M | $74M | $78M | $81M | $84M | $90M | $91M | $93M | $93M | $99M | · | $110M | $117M | $123M | · | $131M | |
| Retained Earnings | $302M | $296M | $293M | $288M | $283M | $278M | $277M | $275M | $273M | $270M | · | $273M | $272M | $272M | · | $278M | |
| AOCI | $-13M | $-13M | $-12M | $-13M | $-15M | $-16M | $-19M | $-15M | $-20M | $-19M | · | $-24M | $-21M | $-17M | · | $-19M | |
| Stockholders' Equity | $351M | $348M | $349M | $345M | $341M | $341M | $339M | $342M | $335M | $338M | $344M | $346M | $356M | $366M | $370M | $376M | |
| Liabilities + Equity | $2.25B | $2.25B | $2.26B | $2.27B | $2.26B | $2.18B | $2.21B | $2.24B | $2.29B | $2.23B | · | $2.22B | $2.23B | $2.11B | · | $1.98B | |
| Shares Outstanding | 17,975,028 | 18,145,996 | 18,359,717 | 18,524,115 | 18,776,229 | 19,281,231 | 19,343,251 | 19,456,939 | 19,478,625 | 19,909,643 | · | 20,859,649 | 21,375,876 | 21,867,233 | · | 22,318,471 |
Cash Flow 17
| 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 | $799.0K | $917.0K | $687.0K | $591.0K | $560.0K | $711.0K | $593.0K | $762.0K | $633.0K | $486.0K | $1M | $715.0K | $738.0K | $815.0K | $939.0K | $1M | |
| Stock-based Comp | $155.0K | $147.0K | $-39.0K | $148.0K | $106.0K | $82.0K | $105.0K | $105.0K | $100.0K | $6.0K | $55.0K | $34.0K | $82.0K | $106.0K | $115.0K | $138.0K | |
| Deferred Tax | $4.0K | $-367.0K | $221.0K | $20.0K | $375.0K | $98.0K | $655.0K | $165.0K | $-501.0K | $661.0K | $-490.0K | $318.0K | $-962.0K | $61.0K | $-123.0K | $-110.0K | |
| Other Non-cash | · | $-7M | · | · | · | $23M | · | · | · | $-14M | · | · | · | $-35M | · | · | |
| Operating Cash Flow | $10M | $-647.0K | $3M | $33M | $-38M | $27M | $23M | $74M | $-40M | $-10M | $-999.0K | $45M | $-44M | $-35M | $71M | $17M | |
| CapEx | $136.0K | $991.0K | $546.0K | $295.0K | $59.0K | $265.0K | $354.0K | $194.0K | $161.0K | $390.0K | $417.0K | $127.0K | $104.0K | $52.0K | $60.0K | $191.0K | |
| Investing Cash Flow | $1M | $-16M | $37M | $-56M | $-6M | $17M | $7M | $-17M | $-14M | $-146.0K | $-14M | $-32M | $-63M | $-43M | $-160M | $-75M | |
| Debt Issued | $20M | $83M | $0 | $30M | $20M | $80M | $20M | $60M | $60M | $30M | $85M | $59M | $0 | $115M | $150M | $50M | |
| Net Debt Issued | · | $53M | · | · | · | $40M | · | · | · | $-20M | · | · | · | $90M | · | · | |
| Stock Repurchased | $4M | $4M | $3M | $4M | $6M | $3M | $3M | $999.0K | $6M | $5M | $6M | $7M | $7M | $6M | $3M | $7M | |
| Net Stock Activity | · | $-4M | · | · | · | $-3M | · | · | · | $-5M | · | · | · | $-6M | · | · | |
| Dividends Paid | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $4M | $4M | $4M | $4M | $4M | |
| Financing Cash Flow | $-17M | $-10M | $-23M | $6M | $72M | $-40M | $-32M | $-57M | $49M | $19M | $-10M | $-12M | $113M | $85M | $62M | $9M | |
| Net Change in Cash | $-6M | $-26M | $17M | $-17M | $28M | $4M | $-2M | $91.0K | $-4M | $9M | $-26M | $1M | $7M | $8M | $-26M | $-49M | |
| Taxes Paid | $3M | $0 | $2M | $2M | $1M | $0 | $-784.0K | $3M | $454.0K | $0 | $-734.0K | $20.0K | $1M | $760.0K | $-196.0K | $1M | |
| Free Cash Flow | · | $-2M | · | · | · | $26M | · | · | · | $-10M | · | · | · | $-31M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-20M | · | · | · | $-38M | · | · |
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 | 21.0% | 16.8% | · | 21.4% | 20.3% | 10.2% | · | 13.9% | 15.4% | 9.4% | · | 9.5% | 11.1% | 6.7% | · | 12.3% | |
| Pretax Margin | 26.4% | 21.2% | · | 26.6% | 25.4% | 13.1% | · | 17.3% | 19.2% | 14.7% | · | 11.0% | 14.1% | 8.6% | · | 15.8% | |
| EBITDA Margin | · | 2.6% | · | · | · | 2.4% | · | · | · | 1.5% | · | · | · | 2.5% | · | · | |
| ROA | 0.38% | 0.27% | · | 0.35% | 0.34% | 0.14% | · | 0.21% | 0.25% | 0.14% | · | 0.16% | 0.19% | 0.10% | · | 0.25% | |
| ROE | 2.4% | 1.7% | · | 2.3% | 2.3% | 0.89% | · | 1.4% | 1.7% | 0.86% | · | 0.90% | 1.1% | 0.55% | · | 1.3% |
Liquidity & Solvency 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | · | · | · | · | · | · | · | 0.4 | 0.4 | 0.4 | · | 0.3 | · | · | · | · |
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 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 |
Valuation (TTM) 15
| 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 | $151M | $140M | · | $139M | $139M | $133M | · | $138M | $140M | $135M | · | $146M | $157M | $162M | · | $197M | |
| Net Income TTM | $30M | $25M | · | $23M | $21M | $17M | · | $17M | $16M | $12M | · | $15M | $19M | $21M | · | $38M | |
| Market Cap | $373M | $327M | · | $289M | $259M | $259M | · | $286M | $249M | $242M | · | $228M | $310M | $331M | · | $361M | |
| Enterprise Value | · | · | · | · | · | · | · | $387M | $358M | $347M | · | $276M | · | · | · | · | |
| P/E | 12.1 | 13.0 | · | 11.9 | 11.8 | 14.9 | · | 16.5 | 15.4 | 19.6 | · | 15.4 | 15.9 | 16.1 | · | 9.9 | |
| P/S | 2.5 | 2.3 | · | 2.1 | 1.9 | 1.9 | · | 2.1 | 1.8 | 1.8 | · | 1.6 | 2.0 | 2.0 | · | 1.8 | |
| P/B | 1.1 | 0.9 | · | 0.8 | 0.8 | 0.8 | · | 0.8 | 0.7 | 0.7 | · | 0.7 | 0.9 | 0.9 | · | 1.0 | |
| P / Tangible Book | 1.1 | 0.9 | · | 0.8 | 0.8 | 0.8 | · | 0.8 | 0.7 | 0.7 | · | 0.7 | 0.9 | 0.9 | · | 1.0 | |
| P / Cash Flow | · | -505.7 | · | · | · | 9.7 | · | · | · | -24.4 | · | · | · | -10.5 | · | · | |
| P / FCF | · | -199.7 | · | · | · | 9.8 | · | · | · | -23.5 | · | · | · | -10.5 | · | · | |
| EV / EBITDA | · | · | · | · | · | · | · | · | · | 713.2 | · | · | · | · | · | · | |
| EV / FCF | · | · | · | · | · | · | · | · | · | -33.6 | · | · | · | · | · | · | |
| EV / Revenue | · | · | · | · | · | · | · | 2.8 | 2.6 | 2.6 | · | 1.9 | · | · | · | · | |
| Earnings Yield | 8.2% | 7.7% | · | 8.4% | 8.5% | 6.7% | · | 6.0% | 6.5% | 5.1% | · | 6.5% | 6.3% | 6.2% | · | 10.1% | |
| Payout Ratio | · | 44.0% | · | · | · | 90.3% | · | · | · | 97.1% | · | · | · | 194.8% | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | |
|---|---|---|---|---|---|
| Net Income | $26M | — | — | $19M | — |
| Diluted EPS | $1.48 | — | — | $1.01 | — |
Cash Flow
| 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | |
|---|---|---|---|---|---|
| Free Cash Flow | $23M | — | — | $47M | — |
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Institutional owners (13F) 135 filers · $148.4M 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 |
|---|---|---|---|---|
| 19 (-4 vs prior Q) | 10 (+2 vs prior Q) | 49 (+8 vs prior Q) | 24 (-8 vs prior Q) | +264K |
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 |
|---|---|---|---|---|
| DIMENSIONAL FUND ADVISORS LP | $28,417,700 | 1,370,849 | 19.15% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $21,799,067 | 1,051,571 | 14.69% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $13,288,034 | 641,005 | 8.95% | Shares |
| STATE STREET CORP | $8,258,252 | 398,372 | 5.56% | Shares |
| AMERICAN CENTURY COMPANIES INC | $7,089,089 | 341,972 | 4.78% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $6,888,186 | 332,220 | 4.64% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $4,381,804 | 211,375 | 2.95% | Shares |
| Quantinno Capital Management LP | $3,512,160 | 169,424 | 2.37% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $3,463,879 | 167,095 | 2.33% | Shares |
| DONALD SMITH & CO., INC. | $3,411,951 | 164,590 | 2.30% | Shares |
| Foundry Partners, LLC | $2,737,747 | 203,550 | 1.84% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $2,676,347 | 129,105 | 1.80% | Shares |
| Qube Research & Technologies Ltd | $2,469,751 | 119,139 | 1.66% | Shares |
| Empowered Funds, LLC | $2,389,796 | 115,282 | 1.61% | Shares |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC | $2,358,597 | 113,777 | 1.59% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $2,112,159 | 101,889 | 1.42% | Shares |
| Fourthstone LLC | $2,054,944 | 98,910 | 1.38% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $2,004,156 | 96,679 | 1.35% | Shares |
| FMR LLC | $1,837,922 | 88,660 | 1.24% | Shares |
| BlackRock, Inc. | $1,784,729 | 86,094 | 1.20% | Shares |
| RITHOLTZ WEALTH MANAGEMENT | $1,575,885 | 76,020 | 1.06% | Shares |
| TWO SIGMA INVESTMENTS, LP | $1,338,101 | 64,549 | 0.90% | Shares |
| MARTINGALE ASSET MANAGEMENT L P | $1,228,419 | 59,258 | 0.83% | Shares |
| Teton Advisors, LLC | $1,223,070 | 59,000 | 0.82% | Shares |
| Bank of New York Mellon Corp | $1,185,901 | 57,207 | 0.80% | Shares |
| HSBC HOLDINGS PLC | $1,022,958 | 49,490 | 0.69% | Shares |
| GOLDMAN SACHS GROUP INC | $956,959 | 46,163 | 0.64% | Shares |
| BANK OF AMERICA CORP /DE/ | $898,708 | 43,353 | 0.61% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $866,058 | 41,778 | 0.58% | Shares |
| Teton Advisors, Inc. | $814,790 | 59,000 | 0.55% | Shares |
| TWO SIGMA ADVISERS, LP | $784,172 | 47,382 | 0.53% | Shares |
| ALGERT GLOBAL LLC | $781,521 | 37,700 | 0.53% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $721,404 | 34,800 | 0.49% | Shares |
| STRS OHIO | $713,112 | 34,400 | 0.48% | Shares |
| D. E. Shaw & Co., Inc. | $703,286 | 33,926 | 0.47% | Shares |
| IEQ CAPITAL, LLC | $660,826 | 31,878 | 0.45% | Shares |
| CITADEL ADVISORS LLC | $561,617 | 27,092 | 0.38% | Shares |
| ALLIANCEBERNSTEIN L.P. | $477,885 | 26,505 | 0.32% | Shares |
| BAILARD, INC. | $468,498 | 22,600 | 0.32% | Shares |
| Mariner, LLC | $464,698 | 22,417 | 0.31% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $451,271 | 21,769 | 0.30% | Shares |
| Hillsdale Investment Management Inc. | $422,892 | 20,400 | 0.28% | Shares |
| RHUMBLINE ADVISERS | $404,436 | 19,509 | 0.27% | Shares |
| Odyssean, LLC | $399,923 | 19,292 | 0.27% | Shares |
| COMMONWEALTH EQUITY SERVICES, LLC | $386,820 | 18,660 | 0.26% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $332,448 | 16,824 | 0.22% | Shares |
| DEUTSCHE BANK AG\ | $306,970 | 14,808 | 0.21% | Shares |
| CWM, LLC | $287,903 | 15,968 | 0.19% | Shares |
| WELLS FARGO & COMPANY/MN | $263,520 | 12,712 | 0.18% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $252,906 | 12,200 | 0.17% | Shares |
| Jump Financial, LLC | $240,468 | 11,600 | 0.16% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $227,615 | 10,980 | 0.15% | Shares |
| FRANKLIN RESOURCES INC | $226,994 | 10,950 | 0.15% | Shares |
| Sanctuary Advisors, LLC | $221,542 | 10,687 | 0.15% | Shares |
| BEESE FULMER INVESTMENT MANAGEMENT, INC. | $209,560 | 10,109 | 0.14% | Shares |
| Eurizon Capital SGR S.p.A. | $200,540 | 9,726 | 0.14% | Shares |
| BARCLAYS PLC | $184,103 | 8,881 | 0.12% | Shares |
| MetLife Investment Management, LLC | $182,942 | 8,825 | 0.12% | Shares |
| Brandywine Global Investment Management, LLC | $176,589 | 10,670 | 0.12% | Shares |
| Arax Advisory Partners | $168,971 | 8,151 | 0.11% | Shares |
| Cerity Partners LLC | $161,217 | 7,777 | 0.11% | Shares |
| Russell Investments Group, Ltd. | $157,299 | 7,588 | 0.11% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $151,764 | 7,321 | 0.10% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $146,064 | 7,046 | 0.10% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $144,281 | 6,960 | 0.10% | Shares |
| Vanguard Global Advisers, LLC | $141,337 | 6,818 | 0.10% | Shares |
| Cubist Systematic Strategies, LLC | $138,108 | 8,853 | 0.09% | Shares |
| Keeley-Teton Advisors, LLC | $134,500 | 10,000 | 0.09% | Shares |
| CITIGROUP INC | $126,847 | 6,119 | 0.09% | Shares |
| Invesco Ltd. | $125,582 | 6,058 | 0.08% | Shares |
| Police & Firemen's Retirement System of New Jersey | $115,611 | 5,577 | 0.08% | Shares |
| VANGUARD GROUP INC | $112,838 | 6,818 | 0.08% | Shares |
| PNC Financial Services Group, Inc. | $101,639 | 4,903 | 0.07% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $100,644 | 4,855 | 0.07% | Shares |
| Farther Finance Advisors, LLC | $67,783 | 3,270 | 0.05% | Shares |
| Versant Capital Management, Inc | $51,245 | 2,472 | 0.03% | Shares |
| NORTHERN TRUST CORP | $49,545 | 2,390 | 0.03% | Shares |
| JPMORGAN CHASE & CO | $39,737 | 1,929 | 0.03% | Shares |
| Tower Research Capital LLC (TRC) | $30,929 | 1,492 | 0.02% | Shares |
| Legal & General Group Plc | $29,872 | 1,441 | 0.02% | Shares |
| Point72 Asia (Singapore) Pte. Ltd. | $27,518 | 1,764 | 0.02% | Shares |
| Ameritas Investment Partners, Inc. | $25,560 | 1,233 | 0.02% | Shares |
| OSAIC HOLDINGS, INC. | $24,561 | 1,185 | 0.02% | Shares |
| Integrated Wealth Concepts LLC | $23,838 | 1,150 | 0.02% | Shares |
| Pinnacle Wealth Planning Services, Inc. | $22,388 | 1,080 | 0.02% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $14,803 | 821 | 0.01% | Shares |
| State of Wyoming | $14,034 | 677 | 0.01% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $14,009 | 777 | 0.01% | Shares |
| Nuveen, LLC | $13,661 | 659 | 0.01% | Shares |
| Point72 (DIFC) Ltd | $13,400 | 859 | 0.01% | Shares |
| MORGAN STANLEY | $11,712 | 565 | 0.01% | Shares |
| MassMutual Private Wealth & Trust, FSB | $10,448 | 504 | 0.01% | Shares |
| Allworth Financial LP | $9,453 | 456 | 0.01% | Shares |
| Curi Capital, LLC | $9,018 | 435 | 0.01% | Shares |
| ROYAL BANK OF CANADA | $9,000 | 448 | 0.01% | Shares |
| Nuveen Asset Management, LLC | $8,857 | 659 | 0.01% | Shares |
| IFP Advisors, Inc | $8,727 | 421 | 0.01% | Shares |
| HARBOUR INVESTMENTS, INC. | $7,081 | 342 | 0.00% | Shares |
| Essential Partners LLC | $6,862 | 331 | 0.00% | Shares |
| Sterling Capital Management LLC | $6,343 | 306 | 0.00% | Shares |
Company insiders 14 insiders · 7 officers · 6 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Douglas S Gordon | CEO | March 6, 2018 M | 423,844 | 0 | 0 | $0 |
| Mark Raymond Gerke | CFO / Sr. Vice President | May 9, 2018 S | 31,092 | 0 | 0 | $0 |
| Allan Robert Hosack | CFO | March 4, 2015 A | 25,000 | 0 | 0 | $0 |
| Richard C Larson | CFO | Jan. 22, 2014 A | 54 | 0 | 0 | $0 |
| Eric J Egenhoefer | Subsidiary President | Dec. 14, 2016 M | 45,572 | 0 | 0 | $0 |
| William F Bruss | COO / General Counsel | May 8, 2018 S | 36,119 | 0 | 0 | $0 |
| Rebecca M Arndt | Sr. Vice President | Feb. 28, 2018 F | 39,241 | 0 | 0 | $0 |
| Thomas E Dalum | Director | March 15, 2017 G | 36,596 | 0 | 0 | $0 |
| Patrick S Lawton | Director | Nov. 18, 2016 M | 220,458 | 0 | 0 | $0 |
| Ellen Syburg Bartel | Director | Aug. 31, 2016 P | 2,700 | 0 | 0 | $0 |
| Stephen J Schmidt | Director | Aug. 24, 2016 M | 70,078 | 0 | 0 | $0 |
| Michael L Hansen | Director | Aug. 23, 2016 S | 79,872 | 0 | 0 | $0 |
| Kristine A Rappe | Director | March 4, 2015 A | 41,318 | 0 | 0 | $0 |
| Ryan J Gordon | — | Aug. 13, 2026 M | 11,611 | 0 | 3 | $-172,375 |
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 |
|---|---|---|---|---|---|
| Homestead Partners LP, Homestead Odyssey Partners LP, Arles Partners LP, Arles Advisors Inc, Warren A. Mackey ×2 filings | May 20, 2015 | — | Initial filing | Passive investment | 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 36 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 |
|---|---|---|---|---|
| GSSC · Goldman Sachs ETF Trust | 0.04% | 22,628 NS | May 31, 2026 | N-PORT |
| DFSV · Dimensional ETF Trust | 0.02% | 92,648 NS | April 30, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.02% | 27,362 NS | May 31, 2026 | N-PORT |
| AVUV · AMERICAN CENTURY ETF TRUST | 0.02% | 264,845 NS | May 31, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.02% | 121,311 NS | April 30, 2026 | N-PORT |
| RSSL · Global X Funds | 0.01% | 6,687 NS | April 30, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.01% | 62,320 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.01% | 714 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.01% | 71,080 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 559 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 564 NS | May 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 60,100 NS | April 30, 2026 | N-PORT |
| DFUV · Dimensional ETF Trust | 0.00% | 15,874 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 671 NS | May 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 1,600 NS | April 30, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 14 NS | May 31, 2026 | N-PORT |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.00% | 4,082 NS | May 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 3,098 NS | April 30, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 811 NS | April 30, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 11,312 NS | May 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 1,767 NS | April 30, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.00% | 24 NS | April 30, 2026 | N-PORT |
| EBI · RBB Fund Trust | 0.00% | 1 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| ITOT · iShares Trust | — | — | July 22, 2026 | Daily |
| IWV · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IWN · iShares Trust | — | — | Aug. 17, 2026 | Daily |
| IWM · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IWC · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| PKW · Invesco Exchange-Traded Fund Trust | — | — | Aug. 4, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | — | — | July 13, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | — | — | July 13, 2026 | Daily |