XHR Xenia Hotels & Resorts, Inc. Common Stock
$19.54
Price · Aug 19, 2026
Fundamentals as of Jul 30, 2026
52W Range
$12–$22
76% of range
Analyst Rating
BUY
9 analysts
Price Target
$21
+8% upside
P/E (TTM)
30.6
ROE
5.3%
Net Profit Margin
5.9%
XHR Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$19.54
Market Cap
$1.80B
P/E (TTM)
30.6
EPS (TTM)
$0.64
Revenue (TTM)
$1.08B
Div Yield
0.03%
ROE
5.3%
Debt/Equity
—
52W Range
$12 – $22
XHR 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
$1.08B
2016-12-31
→
2025-12-31
EPS
$0.64
2018-12-31
→
2025-12-31
Free Cash Flow
—
Margins
5.9%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
XHR
Peer Median
P/E (TTM)
30.6
27.1
P/S (TTM)
1.7
2.0
P/B
1.6
0.9
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
XHR
Peer Median
Operating Margin
10.0%
—
Net Profit Margin
5.9%
2.8%
ROA
2.2%
0.89%
ROE
5.3%
1.5%
ROIC
9.3%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
XHR
Peer Median
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
XHR
Peer Median
Revenue YoY
3.8%
—
Revenue CAGR 3Y
2.6%
—
Revenue CAGR 5Y
23.9%
—
EPS YoY
326.7%
—
Net Income YoY
290.8%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
XHR
Peer Median
Payout Ratio
0.91%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
0.03%
Payout Ratio
0.91%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| June 30, 2026 | $0.1400 |
| March 31, 2026 | $0.1400 |
| Dec. 31, 2025 | $0.1400 |
| Sept. 30, 2025 | $0.1400 |
| June 30, 2025 | $0.1400 |
| March 31, 2025 | $0.1400 |
| Dec. 31, 2024 | $0.1200 |
| Sept. 30, 2024 | $0.1200 |
| June 28, 2024 | $0.1200 |
| March 27, 2024 | $0.1200 |
| Dec. 28, 2023 | $0.1000 |
| Sept. 28, 2023 | $0.1000 |
| June 29, 2023 | $0.1000 |
| March 30, 2023 | $0.1000 |
| Dec. 29, 2022 | $0.1000 |
| Sept. 29, 2022 | $0.1000 |
| March 30, 2020 | $0.2750 |
| Dec. 30, 2019 | $0.2750 |
| Sept. 27, 2019 | $0.2750 |
| June 27, 2019 | $0.2750 |
XHR Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
9 analysts
- Strong Buy 2 22.2%
- Buy 5 55.6%
- Hold 2 22.2%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
5 analysts · 2026-08-16
Median
$21.00
Mean
$21.20
← Below all targets
$19.54
Low
$20.00
High
$22.00
Median target
$21.00
+7.5%
Mean target
$21.20
+8.5%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.00%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.21 | $0.19 | -0.40% |
| March 31, 2026 | $0.21 | $0.18 | 0.03% |
| Dec. 31, 2025 | $0.07 | $0.03 | 0.04% |
| Sept. 30, 2025 | $-0.14 | $-0.14 | 0.00% |
| June 30, 2025 | $0.56 | $0.31 | 0.25% |
| March 31, 2025 | $0.15 | $0.06 | 0.09% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| XHR | $1.30B | 22.1 | 3.8% | 5.9% | 5.3% | — |
| APLE | $2.79B | 16.0 | -1.3% | 12.4% | 5.5% | — |
| PK | $2.09B | -7.3 | -2.2% | -11.1% | -8.3% | — |
| DRH | $1.83B | 20.4 | -0.83% | 9.0% | 6.7% | — |
| PEB | $1.28B | -12.6 | 1.5% | -4.5% | -2.5% | — |
| SHO | $1.70B | 223.5 | 6.0% | 2.6% | 1.2% | — |
| RLJ | $1.13B | 745.0 | -1.4% | 2.1% | 1.3% | — |
| SVC | $309M | -1.5 | -4.3% | -11.2% | -30.1% | — |
| INN | $530M | -22.1 | -0.32% | -1.6% | -1.3% | — |
| CLDT | $325M | 48.6 | -7.0% | 5.1% | 2.0% | — |
| BHR | — | -2.7 | -3.4% | — | — | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.08B | $1.04B | $1.03B | $998M | $616M | $370M | $1.15B | $1.06B | $945M | $950M | |
| Cost of Revenue | $749M | $730M | $704M | $672M | $446M | $352M | $773M | $690M | $604M | $593M | |
| SG&A Expense | $37M | $36M | $37M | $34M | $31M | $30M | $31M | $30M | $32M | $31M | |
| Operating Expenses | $971M | $952M | $928M | $886M | $677M | $611M | $1.04B | $926M | $842M | $839M | |
| Operating Income | $108M | $87M | $98M | $111M | $-61M | $-242M | $111M | $132M | $104M | $112M | |
| Interest Expense | · | · | $85M | $83M | $81M | $62M | $49M | $51M | $46M | $48M | |
| Other Non-op | $8M | $9M | $10M | $4M | $-2M | $29M | $895.0K | $1M | $853.0K | $3M | |
| Pretax Income | $68M | $13M | $21M | $60M | $-146M | $-183M | $63M | $205M | $109M | $92M | |
| Income Tax | $1M | $-4M | $1M | $2M | $718.0K | $-16M | $5M | $6M | $8M | $5M | |
| Net Income | $63M | $16M | $19M | $56M | $-144M | $-163M | $55M | $194M | $99M | $87M | |
| EPS (Basic) | $0.64 | $0.15 | $0.17 | $0.49 | $-1.26 | $-1.44 | $0.49 | $1.75 | · | · | |
| EPS (Diluted) | $0.64 | $0.15 | $0.17 | $0.49 | $-1.26 | $-1.44 | $0.49 | $1.75 | · | · | |
| Shares (Basic) | 96,711,589 | 101,846,303 | 108,192,148 | 114,068,733 | 113,801,862 | 113,489,015 | 112,636,123 | 110,124,142 | 106,767,108 | 108,012,708 | |
| Shares (Diluted) | 97,162,875 | 102,271,394 | 108,412,485 | 114,418,177 | 113,801,862 | 113,489,015 | 112,918,598 | 110,377,734 | 107,019,152 | 108,142,998 | |
| EBITDA | $108M | $87M | $98M | $111M | $-61M | $-242M | $111M | $132M | $104M | $112M |
Balance Sheet 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $140M | $78M | $165M | $305M | $517M | $390M | $111M | $91M | $72M | $216M | |
| Goodwill | $5M | $5M | $5M | $5M | $5M | $5M | $25M | $34M | $40M | $42M | |
| Intangibles | $0 | $6.0K | $48.0K | $210.0K | $596.0K | $2M | $4M | $27M | $28M | $35M | |
| Total Assets | $2.81B | $2.83B | $2.90B | $3.08B | $3.09B | $3.08B | $3.26B | $3.17B | $3.12B | $2.86B | |
| Total Liabilities | $1.63B | $1.55B | $1.58B | $1.62B | $1.65B | $1.51B | $1.49B | $1.32B | $1.47B | $1.21B | |
| Long-term Debt | $1.42B | $1.33B | $1.39B | $1.43B | $1.49B | $1.37B | $1.29B | $1.16B | $1.32B | $1.08B | |
| Common Stock | $922.0K | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | |
| Paid-in Capital | $1.80B | $1.92B | $1.93B | $2.06B | $2.09B | $2.08B | $2.06B | $2.06B | $1.92B | $1.93B | |
| Retained Earnings | $-670M | $-680M | $-647M | $-623M | $-656M | $-513M | $-318M | $-250M | $-321M | $-302M | |
| AOCI | $86.0K | $925.0K | $2M | $0 | $-4M | $-14M | $-5M | $13M | $11M | $5M | |
| Stockholders' Equity | $1.13B | $1.24B | $1.29B | $1.44B | $1.43B | $1.55B | $1.74B | $1.82B | $1.61B | $1.63B | |
| Liabilities + Equity | $2.81B | $2.83B | $2.90B | $3.08B | $3.09B | $3.08B | $3.26B | $3.17B | $3.12B | $2.86B | |
| Shares Outstanding | 92,153,929 | 101,310,135 | 102,372,589 | 112,519,672 | 114,306,727 | 113,755,513 | 112,670,757 | 112,583,990 | 106,735,336 | 106,794,788 |
Cash Flow 11
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $131M | $129M | $132M | $133M | $129M | $147M | $155M | $158M | $153M | $152M | |
| Stock-based Comp | $13M | $14M | $13M | $11M | $12M | $11M | $9M | $9M | $10M | $9M | |
| Operating Cash Flow | $177M | $164M | $198M | $187M | $41M | $-78M | $247M | $254M | $213M | $229M | |
| Investing Cash Flow | $-7M | $-108M | $-119M | $-265M | $-24M | $254M | $-223M | $-50M | $-488M | $101M | |
| Stock Issued | · | · | · | · | · | · | · | $137M | · | · | |
| Stock Repurchased | $120M | $16M | $133M | $28M | $0 | $2M | $0 | $0 | $4M | $74M | |
| Net Stock Activity | $-120M | $-16M | $-133M | $-28M | $0 | $-2M | $0 | $137M | $-4M | $-74M | |
| Dividends Paid | $575.0K | $351.0K | $578.0K | $627.0K | $54.0K | $63M | $126M | $122M | $118M | $115M | |
| Financing Cash Flow | $-90M | $-135M | $-222M | $-110M | $109M | $57M | $10M | $-173M | $118M | $-243M | |
| Net Change in Cash | $80M | $-79M | $-143M | $-188M | $125M | $234M | $33M | $31M | $-157M | $94M | |
| Taxes Paid | $2M | $-707.0K | $-13M | $2M | $274.0K | $2M | $4M | $8M | $5M | $8M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 10.0% | 8.4% | 9.5% | 11.2% | -9.9% | -65.4% | 9.7% | 12.5% | · | · | |
| Net Margin | 5.9% | 1.6% | 1.9% | 5.6% | -23.3% | -44.2% | 4.8% | 18.8% | · | · | |
| Pretax Margin | 6.3% | 1.3% | 2.1% | 6.0% | -23.7% | -49.4% | 5.5% | 19.3% | · | · | |
| EBITDA Margin | 10.0% | 8.4% | 9.5% | 11.2% | -9.9% | -65.4% | 9.7% | 12.5% | · | · | |
| ROA | 2.2% | 0.56% | 0.64% | 1.8% | -4.7% | -5.1% | 1.7% | 6.3% | 3.3% | 2.9% | |
| ROE | 5.3% | 1.3% | 1.4% | 3.9% | -9.6% | -9.9% | 3.1% | 11.6% | 6.1% | 5.1% | |
| ROIC | 9.3% | 9.0% | 7.0% | 7.4% | -4.3% | -14.2% | 5.9% | 7.0% | 5.9% | 6.5% |
Liquidity & Solvency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Coverage | · | · | 1.1 | 1.3 | -0.7 | -3.9 | 2.3 | 2.6 | 2.2 | 2.3 |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.4 | 0.3 | 0.3 | 0.2 | 0.1 | 0.4 | 0.3 | · | · |
Growth Rates 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 3.8% | 1.3% | 2.8% | 61.9% | 66.6% | · | · | · | · | · | |
| Revenue CAGR 3Y | 2.6% | 19.0% | 40.5% | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 23.9% | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 326.7% | -11.8% | -65.3% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 9.3% | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 290.8% | -15.7% | -65.8% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 4.1% | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | -60.9% | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.08B | $1.04B | $1.03B | $998M | $616M | $370M | $1.15B | $1.06B | $945M | $950M | |
| Net Income TTM | $63M | $16M | $19M | $56M | $-144M | $-163M | $55M | $194M | $99M | $87M | |
| Market Cap | $1.30B | $1.51B | $1.39B | $1.48B | $2.07B | $1.73B | $2.43B | $1.94B | $2.30B | $2.07B | |
| P/E | 22.1 | 99.1 | 80.1 | 26.9 | -14.4 | -10.6 | 44.1 | 9.8 | · | · | |
| P/S | 1.2 | 1.4 | 1.4 | 1.5 | 3.4 | 4.7 | 2.1 | 1.8 | 2.4 | 2.2 | |
| P/B | 1.1 | 1.2 | 1.1 | 1.0 | 1.4 | 1.1 | 1.4 | 1.1 | 1.4 | 1.3 | |
| P / Tangible Book | 1.2 | 1.2 | 1.1 | 1.0 | 1.5 | 1.1 | · | · | · | · | |
| P / Cash Flow | 7.4 | 9.2 | 7.0 | 7.9 | 50.8 | -22.2 | 9.9 | 7.6 | 10.8 | 9.2 | |
| Dividend Yield | 0.04% | 0.02% | 0.04% | 0.04% | 0.00% | 3.6% | 5.2% | 6.3% | 5.1% | 5.5% | |
| Earnings Yield | 4.5% | 1.0% | 1.2% | 3.7% | -7.0% | -9.5% | 2.3% | 10.2% | · | · | |
| Payout Ratio | 0.91% | 2.2% | 233.1% | 20.9% | -0.04% | -38.7% | 227.2% | 61.3% | 119.8% | 134.1% | |
| Annual Payout | $575.0K | $351.0K | $578.0K | $627.0K | $54.0K | $63M | $126M | $122M | $118M | $115M |
Income Statement 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 | $295M | $295M | $266M | $236M | $288M | $289M | $262M | $237M | $273M | $267M | $253M | $232M | $271M | $269M | $263M | $241M | |
| Cost of Revenue | $198M | $196M | $185M | $177M | $191M | $196M | $186M | $176M | $186M | $183M | $178M | $168M | $179M | $179M | $182M | $172M | |
| SG&A Expense | $11M | $9M | $8M | $9M | $11M | $9M | $8M | $8M | $10M | $10M | $9M | $10M | $10M | $9M | $9M | $9M | |
| Operating Expenses | $295M | $254M | $239M | $232M | $247M | $253M | $240M | $229M | $243M | $240M | $233M | $224M | $236M | $235M | $236M | $225M | |
| Operating Income | $31.0K | $42M | $27M | $5M | $40M | $36M | $21M | $8M | $30M | $28M | $21M | $8M | $35M | $34M | $27M | $16M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $20M | · | $21M | $22M | $22M | · | $21M | |
| Other Non-op | $848.0K | $2M | $1M | $2M | $2M | $3M | $2M | $3M | $2M | $2M | $4M | $2M | $3M | $1M | $2M | $2M | |
| Pretax Income | $-20M | $22M | $6M | $-15M | $60M | $17M | $-490.0K | $-8M | $12M | $10M | $4M | $-11M | $16M | $12M | $34M | $-3M | |
| Income Tax | $1M | $1M | $-174.0K | $-684.0K | $1M | $870.0K | $287.0K | $-609.0K | $-4M | $728.0K | $-4M | $-2M | $2M | $5M | $-2M | $-1M | |
| Net Income | $-19M | $20M | $6M | $-14M | $55M | $16M | $-638.0K | $-7M | $15M | $9M | $8M | $-9M | $14M | $6M | $35M | $-2M | |
| EPS (Basic) | $-0.21 | $0.21 | $0.07 | $-0.14 | $0.56 | $0.15 | $-0.01 | $-0.07 | $0.15 | $0.08 | $0.07 | $-0.08 | $0.12 | $0.06 | $0.31 | $-0.01 | |
| EPS (Diluted) | $-0.21 | $0.21 | $0.07 | $-0.14 | $0.56 | $0.15 | $-0.01 | $-0.07 | $0.15 | $0.08 | $0.07 | $-0.08 | $0.12 | $0.06 | $0.31 | $-0.01 | |
| Shares (Basic) | 92,245,835 | 92,184,900 | -196,862,287 | 95,209,147 | 97,690,231 | 100,674,498 | -203,960,882 | 101,884,090 | 101,963,677 | 101,959,418 | -219,897,130 | 107,006,690 | 109,304,694 | 111,777,894 | -228,933,215 | 114,322,269 | |
| Shares (Diluted) | 92,245,835 | 92,715,696 | -197,253,512 | 95,209,147 | 98,082,028 | 101,125,212 | -204,326,606 | 101,884,090 | 102,348,982 | 102,364,928 | -220,143,436 | 107,006,690 | 109,511,862 | 112,037,369 | -228,964,091 | 114,322,269 | |
| EBITDA | $31.0K | $42M | · | $5M | $40M | $36M | · | $8M | $30M | $28M | · | $8M | $35M | $34M | · | $16M |
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 | $112M | $101M | $140M | $188M | $173M | $113M | $78M | $161M | $144M | $140M | $165M | $219M | $255M | $283M | $305M | $260M | |
| Goodwill | $5M | $5M | $5M | · | · | · | $5M | · | · | · | · | · | · | · | · | · | |
| Intangibles | · | · | $0 | · | · | · | $6.0K | · | · | · | · | · | · | · | · | · | |
| Total Assets | $2.72B | $2.77B | $2.81B | $2.87B | $2.88B | $2.89B | $2.83B | $2.90B | $2.91B | $2.90B | · | $2.96B | $3.00B | $3.05B | · | $3.09B | |
| Total Liabilities | $1.55B | $1.58B | $1.63B | $1.64B | $1.61B | $1.64B | $1.55B | $1.61B | $1.59B | $1.59B | · | $1.59B | $1.59B | $1.62B | · | $1.63B | |
| Long-term Debt | $1.36B | $1.36B | $1.42B | $1.42B | $1.42B | $1.42B | $1.33B | $1.40B | $1.40B | $1.40B | · | $1.39B | $1.40B | $1.43B | · | $1.43B | |
| Common Stock | $923.0K | $923.0K | $922.0K | $948.0K | $958.0K | $987.0K | $1M | $1M | $1M | $1M | · | $1M | $1M | $1M | · | $1M | |
| Paid-in Capital | $1.80B | $1.80B | $1.80B | $1.84B | $1.85B | $1.89B | $1.92B | $1.93B | $1.93B | $1.93B | · | $1.98B | $2.01B | $2.04B | · | $2.09B | |
| Retained Earnings | $-696M | $-664M | $-670M | $-664M | $-636M | $-678M | $-680M | $-667M | $-648M | $-651M | · | $-644M | $-625M | $-628M | · | $-647M | |
| AOCI | $118.0K | $144.0K | $86.0K | $179.0K | $274.0K | $432.0K | $925.0K | $665.0K | $3M | $3M | $2M | $6M | $5M | · | · | $94.0K | |
| Stockholders' Equity | $1.11B | $1.14B | $1.13B | $1.18B | $1.22B | $1.21B | $1.24B | $1.26B | $1.29B | $1.28B | · | $1.34B | $1.39B | $1.41B | · | $1.44B | |
| Liabilities + Equity | $2.72B | $2.77B | $2.81B | $2.87B | $2.88B | $2.89B | $2.83B | $2.90B | $2.91B | $2.90B | · | $2.96B | $3.00B | $3.05B | · | $3.09B | |
| Shares Outstanding | 92,245,835 | 92,245,835 | 92,153,929 | 94,805,748 | 95,780,393 | 98,703,136 | 101,310,135 | 101,816,814 | 101,963,677 | 101,963,677 | 102,372,589 | 106,050,821 | 108,121,598 | 110,661,486 | 112,519,672 | 114,263,213 |
Cash Flow 10
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $32M | $32M | $32M | $33M | $33M | $33M | $33M | $32M | $32M | $32M | $32M | $33M | $33M | $34M | $34M | $34M | |
| Stock-based Comp | $5M | $3M | $3M | $3M | $5M | $3M | $3M | $3M | $5M | $4M | $3M | $3M | $4M | $3M | $3M | $3M | |
| Operating Cash Flow | $51M | $45M | $21M | $64M | $36M | $55M | $31M | $51M | $57M | $25M | $60M | $37M | $70M | $30M | $29M | $59M | |
| Investing Cash Flow | $-15M | $-15M | $-16M | $-19M | $84M | $-56M | $-24M | $-16M | $-36M | $-32M | $-51M | $-35M | $-22M | $-11M | $66M | $-16M | |
| Stock Repurchased | $0 | $0 | $37M | $12M | $36M | $36M | $8M | $2M | $0 | $6M | $49M | $25M | $32M | $27M | $26M | $2M | |
| Net Stock Activity | · | $0 | · | · | · | $-36M | · | · | · | $-6M | · | · | · | $-27M | · | · | |
| Dividends Paid | $0 | $763.0K | $-1.0K | $0 | $99.0K | $477.0K | $0 | $-23M | $-10M | $351.0K | $-33M | $11M | $11M | $11M | $573.0K | $0 | |
| Financing Cash Flow | $-20M | $-73M | $-51M | $-27M | $-51M | $40M | $-88M | $-15M | $-13M | $-19M | $-62M | $-42M | $-74M | $-44M | $-40M | $-3M | |
| Net Change in Cash | $17M | $-44M | $-46M | $18M | $69M | $38M | $-81M | $20M | $8M | $-26M | $-53M | $-40M | $-25M | $-25M | $55M | $40M | |
| Taxes Paid | $532.0K | $248.0K | $125.0K | $257.0K | $1M | $250.0K | $-2M | $-115.0K | $2M | $91.0K | $-17M | $50.0K | $4M | $220.0K | $65.0K | $1M |
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 | 0.01% | 14.1% | · | 2.0% | 14.0% | 12.4% | · | 3.2% | 11.1% | 10.3% | · | 3.4% | 12.9% | 12.6% | · | 6.7% | |
| Net Margin | -6.5% | 6.7% | · | -5.8% | 19.2% | 5.4% | · | -3.0% | 5.6% | 3.2% | · | -3.7% | 5.1% | 2.3% | · | -0.69% | |
| Pretax Margin | -6.7% | 7.5% | · | -6.4% | 20.8% | 6.0% | · | -3.4% | 4.4% | 3.6% | · | -4.5% | 6.0% | 4.4% | · | -1.1% | |
| EBITDA Margin | 0.01% | 14.1% | · | 2.0% | 14.0% | 12.4% | · | 3.2% | 11.1% | 10.3% | · | 3.4% | 12.9% | 12.6% | · | 6.7% | |
| ROA | -0.69% | 0.70% | · | -0.48% | 1.9% | 0.54% | · | -0.24% | 0.52% | 0.29% | · | -0.28% | 0.45% | 0.21% | · | -0.05% | |
| ROE | -1.7% | 1.7% | · | -1.1% | 4.4% | 1.2% | · | -0.54% | 1.1% | 0.63% | · | -0.61% | 0.97% | 0.44% | · | -0.11% | |
| ROIC | 0.00% | 3.5% | · | 0.38% | 3.2% | 2.8% | · | 0.55% | 3.2% | 2.0% | · | 0.50% | 2.2% | 1.3% | · | 0.70% |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Coverage | · | · | · | · | · | · | · | · | · | 1.4 | · | 0.4 | 1.6 | 1.5 | · | 0.8 |
Efficiency 1
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 |
Valuation (TTM) 10
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.11B | $1.11B | · | $1.05B | $1.09B | $1.07B | · | $1.01B | $1.04B | $1.04B | · | $1.01B | $1.06B | $1.00B | · | $907M | |
| Net Income TTM | $42M | $77M | · | $50M | $79M | $32M | · | $8M | $29M | $20M | · | $10M | $46M | $27M | · | $-2M | |
| Market Cap | $1.88B | $1.37B | · | $1.30B | $1.20B | $1.16B | · | $1.50B | $1.46B | $1.53B | · | $1.25B | $1.33B | $1.45B | · | $1.58B | |
| P/E | 48.5 | 19.0 | · | 27.4 | 15.9 | 37.9 | · | 184.6 | 53.1 | 83.4 | · | 130.9 | 30.0 | 54.5 | · | -689.5 | |
| P/S | 1.7 | 1.2 | · | 1.2 | 1.1 | 1.1 | · | 1.5 | 1.4 | 1.5 | · | 1.2 | 1.3 | 1.4 | · | 1.7 | |
| P/B | 1.7 | 1.2 | · | 1.1 | 1.0 | 1.0 | · | 1.2 | 1.1 | 1.2 | · | 0.9 | 1.0 | 1.0 | · | 1.1 | |
| P / Tangible Book | 1.7 | 1.2 | · | 1.1 | 1.0 | 1.0 | · | 1.2 | 1.1 | 1.2 | · | 0.9 | 1.0 | 1.0 | · | 1.1 | |
| P / Cash Flow | · | 30.4 | · | · | · | 21.2 | · | · | · | 61.9 | · | · | · | 47.8 | · | · | |
| Earnings Yield | 2.1% | 5.3% | · | 3.6% | 6.3% | 2.6% | · | 0.54% | 1.9% | 1.2% | · | 0.76% | 3.3% | 1.8% | · | -0.15% | |
| Payout Ratio | · | 3.9% | · | · | · | 3.1% | · | · | · | 122.1% | · | · | · | 182.5% | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $1.08B | $1.04B | $1.03B | $998M | $616M |
| Operating Margin % | 10.0% | 8.4% | 9.5% | 11.2% | -9.9% |
| Net Income | $63M | $16M | $19M | $56M | $-144M |
| Diluted EPS | $0.64 | $0.15 | $0.17 | $0.49 | $-1.26 |
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Institutional owners (13F) 308 filers · $1.1B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 54 (+24 vs prior Q) | 25 (+3 vs prior Q) | 95 (-4 vs prior Q) | 89 (+5 vs prior Q) | +16.4M |
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 PORTFOLIO MANAGEMENT LLC | $249,028,657 | 12,231,270 | 22.03% | Shares |
| STATE STREET CORP | $110,355,585 | 5,383,885 | 9.76% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $84,558,521 | 4,153,169 | 7.48% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $52,976,130 | 2,601,971 | 4.69% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $51,927,325 | 2,550,458 | 4.59% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $49,946,969 | 2,453,191 | 4.42% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $46,825,720 | 2,299,424 | 4.14% | Shares |
| Allspring Global Investments Holdings, LLC | $33,148,644 | 1,665,761 | 2.93% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $25,520,291 | 1,253,452 | 2.26% | Shares |
| Allianz Asset Management GmbH | $23,628,045 | 1,160,513 | 2.09% | Shares |
| ALGERT GLOBAL LLC | $19,560,198 | 960,717 | 1.73% | Shares |
| Mesirow Institutional Investment Management, Inc. | $15,982,153 | 1,075,515 | 1.41% | Shares |
| Alyeska Investment Group, L.P. | $15,914,577 | 781,659 | 1.41% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $15,312,206 | 752,073 | 1.35% | Shares |
| AMERIPRISE FINANCIAL INC | $13,854,584 | 680,405 | 1.23% | Shares |
| PRUDENTIAL FINANCIAL INC | $13,794,816 | 677,545 | 1.22% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $13,335,800 | 655,000 | 1.18% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $12,539,174 | 615,873 | 1.11% | Shares |
| ALLIANCEBERNSTEIN L.P. | $10,874,083 | 733,249 | 0.96% | Shares |
| Fisher Asset Management, LLC | $10,747,249 | 527,861 | 0.95% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $10,680,311 | 524,573 | 0.94% | Shares |
| Public Sector Pension Investment Board | $8,533,568 | 419,134 | 0.75% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $7,054,231 | 346,475 | 0.62% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $7,023,223 | 344,952 | 0.62% | Shares |
| D. E. Shaw & Co., Inc. | $6,195,874 | 304,316 | 0.55% | Shares |
| KESTREL INVESTMENT MANAGEMENT CORP | $5,999,074 | 294,650 | 0.53% | Shares |
| MARTINGALE ASSET MANAGEMENT L P | $5,643,894 | 277,205 | 0.50% | Shares |
| FIRST TRUST ADVISORS LP | $5,596,923 | 274,898 | 0.50% | Shares |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC | $4,895,073 | 240,426 | 0.43% | Shares |
| RHUMBLINE ADVISERS | $4,879,135 | 239,644 | 0.43% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $4,858,116 | 238,646 | 0.43% | Shares |
| CRAMER ROSENTHAL MCGLYNN LLC | $4,714,928 | 231,578 | 0.42% | Shares |
| VIRGINIA RETIREMENT SYSTEMS ET Al | $4,395,419 | 310,850 | 0.39% | Shares |
| Qube Research & Technologies Ltd | $4,306,262 | 211,506 | 0.38% | Shares |
| TWO SIGMA INVESTMENTS, LP | $4,100,647 | 201,407 | 0.36% | Shares |
| NORGES BANK | $4,063,856 | 199,600 | 0.36% | Shares |
| Campbell & CO Investment Adviser LLC | $3,979,525 | 195,458 | 0.35% | Shares |
| Swiss National Bank | $3,768,229 | 185,080 | 0.33% | Shares |
| CITADEL ADVISORS LLC | $3,718,550 | 182,640 | 0.33% | Shares |
| BlackRock, Inc. | $3,587,086 | 176,183 | 0.32% | Shares |
| BANK OF AMERICA CORP /DE/ | $3,567,845 | 175,238 | 0.32% | Shares |
| GOLDMAN SACHS GROUP INC | $3,566,135 | 175,154 | 0.32% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $3,505,809 | 172,191 | 0.31% | Shares |
| SEGALL BRYANT & HAMILL, LLC | $3,366,404 | 165,344 | 0.30% | Shares |
| JPMORGAN CHASE & CO | $3,289,680 | 159,461 | 0.29% | Shares |
| HSBC HOLDINGS PLC | $3,144,968 | 154,468 | 0.28% | Shares |
| CITIGROUP INC | $3,139,960 | 154,222 | 0.28% | Shares |
| MILLENNIUM MANAGEMENT LLC | $3,086,332 | 151,588 | 0.27% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $3,064,180 | 150,500 | 0.27% | Shares |
| NOMURA ASSET MANAGEMENT CO LTD | $3,058,072 | 150,200 | 0.27% | Shares |
| Legal & General Group Plc | $2,881,611 | 141,533 | 0.25% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $2,833,990 | 139,194 | 0.25% | Shares |
| Engineers Gate Manager LP | $2,802,025 | 137,624 | 0.25% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $2,501,000 | 122,838 | 0.22% | Shares |
| INTECH INVESTMENT MANAGEMENT LLC | $2,491,901 | 122,392 | 0.22% | Shares |
| MACQUARIE GROUP LTD | $2,469,261 | 121,280 | 0.22% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $2,462,603 | 120,953 | 0.22% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $2,443,729 | 120,026 | 0.22% | Shares |
| RAYMOND JAMES FINANCIAL INC | $2,433,916 | 119,544 | 0.22% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $2,405,819 | 118,164 | 0.21% | Shares |
| CWA Asset Management Group, LLC | $2,146,050 | 105,405 | 0.19% | Shares |
| Quantinno Capital Management LP | $2,123,867 | 104,315 | 0.19% | Shares |
| Cubist Systematic Strategies, LLC | $2,027,376 | 147,768 | 0.18% | Shares |
| Fiduciary Alliance LLC | $2,011,955 | 98,819 | 0.18% | Shares |
| Mitsubishi UFJ Trust & Banking Corp | $1,985,446 | 97,517 | 0.18% | Shares |
| Asset Management One Co., Ltd. | $1,945,310 | 131,174 | 0.17% | Shares |
| Vanguard Investments Australia, Ltd. | $1,694,726 | 83,238 | 0.15% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $1,686,867 | 82,852 | 0.15% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $1,636,455 | 80,376 | 0.14% | Shares |
| LPL Financial LLC | $1,601,636 | 78,666 | 0.14% | Shares |
| GREAT LAKES ADVISORS, LLC | $1,599,034 | 78,538 | 0.14% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $1,552,135 | 74,586 | 0.14% | Shares |
| Uniplan Investment Counsel, Inc. | $1,551,407 | 76,198 | 0.14% | Shares |
| MML INVESTORS SERVICES, LLC | $1,529,557 | 75,126 | 0.14% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $1,471,600 | 72,279 | 0.13% | Shares |
| NORDEA INVESTMENT MANAGEMENT AB | $1,401,916 | 69,128 | 0.12% | Shares |
| Amundi | $1,398,366 | 68,682 | 0.12% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $1,379,220 | 93,002 | 0.12% | Shares |
| Cetera Investment Advisers | $1,375,270 | 67,547 | 0.12% | Shares |
| COMMONWEALTH EQUITY SERVICES, LLC | $1,367,884 | 67,185 | 0.12% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $1,351,687 | 66,389 | 0.12% | Shares |
| Nebula Research & Development LLC | $1,267,647 | 100,847 | 0.11% | Shares |
| XTX Topco Ltd | $1,242,673 | 61,035 | 0.11% | Shares |
| VANGUARD GROUP INC | $1,224,467 | 86,596 | 0.11% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $1,190,917 | 58,493 | 0.11% | Shares |
| AMERICAN CENTURY COMPANIES INC | $1,181,735 | 58,042 | 0.10% | Shares |
| TEACHER RETIREMENT SYSTEM OF TEXAS | $1,168,643 | 57,399 | 0.10% | Shares |
| MetLife Investment Management, LLC | $1,158,728 | 56,912 | 0.10% | Shares |
| BAILARD, INC. | $1,056,684 | 51,900 | 0.09% | Shares |
| Illinois Municipal Retirement Fund | $965,471 | 47,420 | 0.09% | Shares |
| BARCLAYS PLC | $963,191 | 47,308 | 0.09% | Shares |
| Horizon Investments, LLC | $935,990 | 45,972 | 0.08% | Shares |
| DIVERSIFIED TRUST CO | $932,813 | 45,816 | 0.08% | Shares |
| Cambria Investment Management, L.P. | $932,631 | 45,807 | 0.08% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $875,846 | 43,018 | 0.08% | Shares |
| Mariner, LLC | $873,573 | 42,906 | 0.08% | Shares |
| IEQ CAPITAL, LLC | $852,663 | 41,879 | 0.08% | Shares |
| Aberdeen Group plc | $852,351 | 41,864 | 0.08% | Shares |
| QRG CAPITAL MANAGEMENT, INC. | $843,670 | 41,437 | 0.07% | Shares |
| Resona Asset Management Co.,Ltd. | $831,227 | 40,332 | 0.07% | Shares |
Company insiders 12 insiders · 5 officers · 7 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Marcel Verbaas | President and Chief Executive Officer | May 5, 2015 A | 146 | 0 | 0 | $0 |
| Andrew J Welch | Executive Vice President, Chief Financial Officer and Treasurer | May 5, 2015 A | — | 0 | 0 | $0 |
| Barry A N Bloom | Executive Vice President and Chief Operating Officer | May 5, 2015 A | 146 | 0 | 0 | $0 |
| Philip A. Wade | Senior Vice President and Chief Investment Officer | May 5, 2015 A | — | 0 | 0 | $0 |
| Joseph T Johnson | Senior Vice President and Chief Accounting Officer | May 5, 2015 A | — | 0 | 0 | $0 |
| Beverly K. Goulet, | Director | Feb. 4, 2015 A | 3,650 | 0 | 0 | $0 |
| Thomas M Gartland | Director | Feb. 4, 2015 A | 3,650 | 0 | 0 | $0 |
| Keith E Bass | Director | Feb. 4, 2015 A | 3,650 | 0 | 0 | $0 |
| Mary E Mccormick | Director | Feb. 4, 2015 A | 3,650 | 0 | 0 | $0 |
| John H Alschuler JR | Director | Feb. 4, 2015 A | 3,650 | 0 | 0 | $0 |
| Dennis D Oklak | Director | Feb. 4, 2015 A | 3,650 | 0 | 0 | $0 |
| Jeffrey H Donahue | — | May 24, 2016 A | 3,650 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 69 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 |
|---|---|---|---|---|
| VRAI · ETFis Series Trust I | 1.13% | 12,765 NS | April 30, 2026 | N-PORT |
| XSVM · Invesco Exchange-Traded Fund Trust | 0.64% | 220,254 | Aug. 8, 2026 | Daily |
| FYT · First Trust Exchange-Traded AlphaDE… | 0.52% | 58,947 NS | April 30, 2026 | N-PORT |
| PSCF · Invesco Exchange-Traded Fund Trust … | 0.38% | 5,413 | Aug. 8, 2026 | Daily |
| GQRE · FlexShares Trust | 0.27% | 63,070 NS | April 30, 2026 | N-PORT |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.25% | 187,254 NS | April 30, 2026 | N-PORT |
| BBRE · J.P. Morgan Exchange-Traded Fund Tr… | 0.23% | 164,671 NS | May 31, 2026 | N-PORT |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.22% | 79,678 NS | April 30, 2026 | N-PORT |
| USRT · iShares Trust | 0.15% | 345,578 SH | Aug. 8, 2026 | Daily |
| EBIT · Harbor ETF Trust | 0.14% | 963 NS | April 30, 2026 | N-PORT |
| NUSC · Nushares ETF Trust | 0.13% | 98,844 NS | April 30, 2026 | N-PORT |
| FREL · FIDELITY COVINGTON TRUST | 0.12% | 104,679 NS | April 30, 2026 | N-PORT |
| SCHH · SCHWAB STRATEGIC TRUST | 0.12% | 670,608 NS | May 31, 2026 | N-PORT |
| DFAR · Dimensional ETF Trust | 0.12% | 119,550 NS | April 30, 2026 | N-PORT |
| XJR · iShares Trust | 0.11% | 10,872 SH | Aug. 8, 2026 | Daily |
| VIOV · VANGUARD ADMIRAL FUNDS | 0.11% | 105,699 SH | Aug. 8, 2026 | Daily |
| PPTY · ETF Series Solutions | 0.11% | 1,545 NS | May 31, 2026 | N-PORT |
| QVMS · Invesco Exchange-Traded Fund Trust … | 0.11% | 14,239 | Aug. 8, 2026 | Daily |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.11% | 9,112 NS | April 30, 2026 | N-PORT |
| IJS · iShares Trust | 0.11% | 441,859 SH | Aug. 8, 2026 | Daily |
| REET · iShares Trust | 0.10% | 260,935 SH | Aug. 8, 2026 | Daily |
| SMDX · Tidal Trust III | 0.10% | 7,763 NS | April 30, 2026 | N-PORT |
| IWN · iShares Trust | 0.10% | 738,712 SH | Aug. 8, 2026 | Daily |
| VNQ · VANGUARD SPECIALIZED FUNDS | 0.10% | 3,514,685 SH | Aug. 8, 2026 | Daily |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.10% | 323,099 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.10% | 69,277 SH | Aug. 8, 2026 | Daily |
| IJR · iShares Trust | 0.10% | 5,631,593 SH | Aug. 8, 2026 | Daily |
| AVRE · AMERICAN CENTURY ETF TRUST | 0.10% | 45,665 NS | May 31, 2026 | N-PORT |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.10% | 14,279 | Aug. 8, 2026 | Daily |
| IJT · iShares Trust | 0.09% | 394,124 SH | Aug. 8, 2026 | Daily |
| ERET · iShares Trust | 0.09% | 655 SH | Aug. 8, 2026 | Daily |
| VIOG · VANGUARD ADMIRAL FUNDS | 0.09% | 50,509 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.09% | 126,219 | Aug. 8, 2026 | Daily |
| GSSC · Goldman Sachs ETF Trust | 0.08% | 47,340 NS | May 31, 2026 | N-PORT |
| DFGR · Dimensional ETF Trust | 0.08% | 173,001 NS | April 30, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.08% | 35,256 NS | April 30, 2026 | N-PORT |
| FNDA · SCHWAB STRATEGIC TRUST | 0.08% | 396,165 NS | May 31, 2026 | N-PORT |
| SAA · ProShares Trust | 0.07% | 1,134 NS | May 31, 2026 | N-PORT |
| RWJ · Invesco Exchange-Traded Fund Trust … | 0.07% | 75,664 | Aug. 8, 2026 | Daily |
| ESML · iShares Trust | 0.06% | 92,483 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.06% | 540,138 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.06% | 2,395,948 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.05% | 41,255 NS | April 30, 2026 | N-PORT |
| PKW · Invesco Exchange-Traded Fund Trust | 0.05% | 42,042 | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.04% | 4,474 NS | May 31, 2026 | N-PORT |
| VBR · VANGUARD INDEX FUNDS | 0.04% | 1,343,176 SH | Aug. 8, 2026 | Daily |
| SCHA · SCHWAB STRATEGIC TRUST | 0.03% | 457,127 NS | May 31, 2026 | N-PORT |
| SMLF · iShares Trust | 0.03% | 71,964 SH | Aug. 8, 2026 | Daily |
| ISCG · iShares Trust | 0.03% | 15,797 SH | Aug. 8, 2026 | Daily |
| ISCV · iShares Trust | 0.03% | 10,172 SH | Aug. 8, 2026 | Daily |