XIFR XPLR Infrastructure, LP Common Units representing limited partner interests
$11.62
Price · Aug 19, 2026
Fundamentals as of Jul 28, 2026
52W Range
$9–$13
64% of range
Analyst Rating
HOLD
17 analysts
Price Target
$12
+5% upside
P/E (TTM)
-9.6
ROE
-0.25%
Net Profit Margin
-2.4%
XIFR Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$11.62
Market Cap
—
P/E (TTM)
-9.6
EPS (TTM)
—
Revenue (TTM)
$1.19B
Div Yield
—
ROE
-0.25%
Debt/Equity
0.6
52W Range
$9 – $13
XIFR 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
$1.19B
2016-12-31
→
2025-12-31
EPS
—
2016-12-31
→
2022-12-31
Free Cash Flow
$-219M
2016-12-31
→
2025-12-31
Margins
-2.4%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
XIFR
Peer Median
P/E (TTM)
-9.6
50.8
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
XIFR
Peer Median
Operating Margin
-15.7%
—
Net Profit Margin
-2.4%
-5.5%
ROA
-0.14%
-0.54%
ROE
-0.25%
-5.2%
ROIC
-0.91%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
XIFR
Peer Median
Debt / Equity
0.6
0.0
Current Ratio
0.9
0.9
Quick Ratio
0.7
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
XIFR
Peer Median
Revenue YoY
-3.4%
—
Revenue CAGR 3Y
7.0%
—
Revenue CAGR 5Y
5.3%
—
Net Income YoY
-58.1%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
XIFR
Peer Median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
—
Payout Ratio
—
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| Nov. 6, 2024 | $0.9180 |
| Aug. 6, 2024 | $0.9050 |
| May 6, 2024 | $0.8930 |
| Feb. 5, 2024 | $0.8800 |
| Nov. 3, 2023 | $0.8680 |
| Aug. 3, 2023 | $0.8540 |
| May 4, 2023 | $0.8430 |
| Feb. 3, 2023 | $0.8130 |
| Nov. 3, 2022 | $0.7880 |
| Aug. 3, 2022 | $0.7630 |
| May 4, 2022 | $0.7330 |
| Feb. 3, 2022 | $0.7080 |
| Nov. 3, 2021 | $0.6850 |
| Aug. 4, 2021 | $0.6630 |
| May 5, 2021 | $0.6380 |
| Feb. 4, 2021 | $0.6150 |
| Nov. 4, 2020 | $0.5950 |
| Aug. 5, 2020 | $0.5780 |
| May 6, 2020 | $0.5550 |
| Feb. 5, 2020 | $0.5350 |
XIFR Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
HOLD
17 analysts
- Strong Buy 1 5.9%
- Buy 1 5.9%
- Hold 9 52.9%
- Sell 4 23.5%
- Strong Sell 2 11.8%
12-Month Price Target
11 analysts · 2026-08-14
Median
$12.00
Now
$11.62
Low
$7.00
High
$17.00
Median target
$12.00
+3.3%
Mean target
$12.23
+5.3%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.01%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.40 | $0.04 | 0.36% |
| March 31, 2026 | $0.35 | $0.08 | 0.27% |
| Dec. 31, 2025 | $0.30 | $1.46 | -1.2% |
| Sept. 30, 2025 | $-0.40 | $0.28 | -0.68% |
| June 30, 2025 | $0.84 | $0.88 | -0.04% |
| March 31, 2025 | $1.65 | $0.47 | 1.2% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| XIFR | — | -9.6 | -3.4% | -2.4% | -0.25% | — |
| ORA | $6.68B | 54.7 | 12.5% | 12.5% | 5.0% | 27.6% |
| FRVO | — | — | — | — | — | — |
| BEPC | — | — | — | — | — | — |
| MNTK | $239M | 167.0 | 0.37% | 0.99% | 0.68% | — |
| ANNA | — | — | — | — | — | — |
| SPRU | $92M | -3.5 | 36.2% | -23.3% | -19.5% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.19B | $1.23B | $1.08B | $969M | $722M | $917M | $855M | $771M | $807M | $772M | $501M | $359M | |
| Operating Expenses | $1.38B | $1.70B | $1.11B | $961M | $653M | $662M | $622M | $481M | $495M | $470M | $292M | $183M | |
| Operating Income | $-186M | $-459M | $-28M | $44M | $64M | $253M | $233M | $443M | $312M | $302M | $209M | $176M | |
| Interest Expense | · | · | · | · | · | $620M | $702M | $248M | $199M | $152M | $117M | $100M | |
| Other Non-op | $22M | $47M | $9M | $5M | $4M | $5M | $5M | $22M | $-2M | $-2M | $-10M | $0 | |
| Pretax Income | $-477M | $-454M | $-279M | $1.13B | $303M | $-257M | $-430M | $273M | $281M | $440M | $140M | $83M | |
| Income Tax | $-78M | $-42M | $-25M | $161M | $37M | $-19M | $-26M | $6M | $167M | $57M | $33M | $-14M | |
| Net Income | $-28M | $-23M | $200M | $477M | $137M | $-55M | $-88M | $167M | $-64M | $83M | $10M | $3M | |
| EPS (Basic) | $-0.30 | $-0.25 | $2.18 | $5.62 | $1.77 | $-0.81 | $-1.51 | $3.05 | $-1.18 | $1.90 | · | · | |
| EPS (Diluted) | · | · | · | $5.62 | $1.77 | $-0.81 | $-1.51 | $2.91 | $-1.18 | $1.90 | · | · | |
| Shares (Basic) | 93,900,000 | 93,500,000 | 91,600,000 | 84,900,000 | 77,200,000 | 68,400,000 | 58,800,000 | 54,900,000 | 54,200,000 | 43,800,000 | · | · | |
| Shares (Diluted) | 93,900,000 | 93,500,000 | 91,600,000 | 84,900,000 | 77,400,000 | 68,400,000 | 58,800,000 | 74,600,000 | 54,200,000 | 43,800,000 | · | · | |
| EBITDA | $-186M | $-459M | $-28M | $197M | $234M | $253M | $233M | $443M | $307M | $290M | $215M | · |
Balance Sheet 26
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $960M | $283M | $274M | $226M | $147M | $108M | $128M | $147M | $154M | $150M | $165M | $111M | |
| Receivables | $102M | $105M | $114M | $117M | $112M | $83M | $79M | $63M | $85M | $87M | $80M | $41M | |
| Inventory | $103M | $108M | $82M | $49M | $41M | $24M | $20M | · | · | · | $13M | $10M | |
| Prepaid Expense | · | · | · | · | · | · | · | · | · | · | $6M | $4M | |
| Other Current Assets | $121M | $130M | $107M | $207M | $25M | $16M | $16M | $45M | $46M | $30M | $24M | $34M | |
| Current Assets | $1.42B | $860M | $2.22B | $1.86B | $1.41B | $414M | $433M | $340M | $398M | $367M | $354M | $486M | |
| PP&E (Net) | $15.37B | $14.55B | $14.84B | $14.19B | $11.42B | $7.16B | $6.97B | $6.77B | $6.20B | $6.30B | $5.12B | $3.63B | |
| PP&E (Gross) | $18.88B | $17.54B | $17.30B | $16.14B | $13.12B | $8.61B | $8.17B | $7.74B | $7.13B | $7.02B | $5.62B | $3.99B | |
| Accum. Depreciation | $3.51B | $2.98B | $2.46B | $1.95B | $1.71B | $1.44B | $1.20B | $966M | $931M | $720M | $501M | $360M | |
| Goodwill | $0 | $253M | $833M | $812M | $891M | $609M | $609M | $584M | $628M | $628M | $622M | $0 | |
| Intangibles | $1.65B | · | · | · | · | · | · | · | · | · | · | · | |
| Other Non-current Assets | $534M | $1.02B | $785M | $894M | $265M | $131M | $137M | $128M | $124M | $94M | $61M | $49M | |
| Total Assets | $19.59B | $20.29B | $22.51B | $23.05B | $18.98B | $12.56B | $12.26B | $9.40B | $8.43B | $8.66B | $7.23B | $4.34B | |
| Accounts Payable | $58M | $65M | $72M | $867M | $982M | $143M | $122M | $10M | $26M | $331M | $303M | $152M | |
| Short-term Debt | · | · | · | · | · | · | · | · | · | $0 | $12M | $0 | |
| Current Liabilities | $1.57B | $1.09B | $1.67B | $1.33B | $1.26B | $350M | $301M | $859M | $276M | $818M | $512M | $322M | |
| Deferred Tax | · | · | · | · | · | · | · | $12M | $63M | $47M | $43M | $76M | |
| Other Non-current Liabilities | $188M | $200M | $248M | $195M | $204M | $170M | $167M | $47M | $100M | $69M | $82M | $26M | |
| Total Liabilities | $8.70B | $7.43B | $8.45B | $8.28B | $7.82B | $4.86B | $5.19B | $3.87B | $6.20B | $6.09B | $5.33B | $2.70B | |
| Long-term Debt | $6.20B | $5.31B | $6.29B | $5.29B | $5.33B | $3.39B | $4.14B | $3.44B | $4.32B | $3.59B | $3.44B | $1.89B | |
| Total Debt | $6.20B | $5.31B | $6.29B | $5.29B | $5.33B | $3.39B | $4.14B | $3.44B | $4.32B | $3.59B | $3.45B | · | |
| Paid-in Capital | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Retained Earnings | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| AOCI | $-5M | $-6M | $-7M | $-7M | $-8M | $-8M | $-8M | $-6M | $1M | $-3M | $-6M | $-3M | |
| Stockholders' Equity | $10.90B | $12.87B | $14.06B | $14.67B | $10.84B | $7.71B | $7.07B | $5.54B | $2.22B | $2.58B | $2.04B | $2.22B | |
| Liabilities + Equity | $19.59B | $20.29B | $22.51B | $23.05B | $18.98B | $12.56B | $12.26B | $9.40B | $8.43B | $8.66B | $7.23B | $4.34B |
Cash Flow 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Deferred Tax | $-42M | $1M | $34M | $171M | $46M | $-26M | $-26M | $23M | $162M | $56M | $24M | $-26M | |
| Amort. of Intangibles | $83M | $82M | $82M | $143M | $117M | $103M | $72M | $0 | $0 | $18M | $4M | $0 | |
| Operating Cash Flow | $739M | $800M | $731M | $776M | $677M | $665M | $346M | $362M | $413M | $415M | $288M | $182M | |
| CapEx | $958M | $241M | $1.27B | $1.35B | $113M | $334M | $93M | $25M | $349M | $861M | $201M | $714M | |
| Investing Cash Flow | $630M | $1.24B | $-194M | $-1.19B | $-2.30B | $-681M | $-2.35B | $-763M | $-1.37B | · | · | · | |
| Debt Issued | $3.45B | $354M | $2.36B | $1.50B | $2.88B | $695M | $3.38B | $750M | $1.88B | $771M | $1.37B | $15M | |
| Net Debt Issued | $3.45B | $354M | $2.36B | $1.50B | $2.88B | $695M | $3.38B | $750M | $1.88B | $771M | $1.37B | · | |
| Stock Issued | $4M | $3M | $315M | $147M | · | · | · | · | · | · | · | · | |
| Net Stock Activity | $4M | $3M | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $-674M | $-2.00B | $-527M | $551M | $1.66B | $-4M | $1.97B | $371M | $959M | · | · | · | |
| Net Change in Cash | $695M | $34M | $10M | $133M | $39M | $-20M | $-34M | $-32M | $7M | $5M | $-10M | $79M | |
| Taxes Paid | $45M | $47M | $1M | $0 | $2M | $6M | $1M | $5M | $0 | $0 | · | · | |
| Free Cash Flow | $-219M | $559M | $-538M | $-575M | $564M | $331M | $253M | $337M | $64M | $45M | $115M | · | |
| Levered FCF | · | · | · | · | · | $-243M | $-407M | $94M | $-15M | $-81M | $22M | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -15.7% | -37.3% | -2.6% | 16.3% | 23.8% | 27.6% | 27.3% | 57.5% | 38.0% | 40.6% | 45.6% | · | |
| Net Margin | -2.4% | -1.9% | 18.6% | 39.4% | 14.0% | -6.0% | -10.3% | 21.7% | -8.1% | 11.5% | 2.1% | · | |
| Pretax Margin | -40.2% | -37.1% | -23.8% | 106.7% | 48.1% | -28.0% | -50.3% | 35.4% | 34.2% | 56.1% | 21.4% | · | |
| EBITDA Margin | -15.7% | -37.3% | -2.6% | 16.3% | 23.8% | 27.6% | 27.3% | 57.5% | 38.0% | 40.6% | 45.6% | · | |
| ROA | -0.14% | -0.11% | 0.88% | 2.3% | 0.87% | -0.44% | -0.81% | 1.9% | -0.76% | 1.1% | 0.19% | · | |
| ROE | -0.25% | -0.17% | 1.4% | 3.5% | 1.4% | -0.76% | -1.3% | 3.5% | -2.7% | 3.5% | 0.55% | · | |
| ROIC | -0.91% | -2.3% | -0.12% | 0.86% | 1.3% | 2.1% | 1.9% | 4.8% | 1.9% | 4.3% | 3.4% | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.9 | 0.8 | 1.3 | 1.4 | 1.1 | 1.2 | 1.4 | 0.4 | 1.4 | 0.9 | 1.4 | · | |
| Quick Ratio | 0.7 | 0.4 | 0.2 | 0.3 | 0.2 | 0.5 | 0.7 | 0.3 | 0.9 | 0.6 | 1.0 | · | |
| Debt / Equity | 0.6 | 0.4 | 0.4 | 0.4 | 0.5 | 0.4 | 0.6 | 0.6 | 2.0 | 1.7 | 2.2 | · | |
| LT Debt / Equity | 0.5 | 0.4 | 0.4 | 0.4 | 0.5 | 0.4 | 0.6 | 0.5 | 1.9 | 1.6 | 2.1 | · | |
| Interest Coverage | · | · | · | · | · | 0.4 | 0.3 | 1.8 | 1.5 | 2.0 | 1.8 | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | 0.0 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | · | |
| Receivables Turnover | 11.5 | 11.2 | 9.3 | 9.7 | 10.1 | 11.3 | 12.0 | 9.3 | 9.4 | 8.9 | 8.3 | · |
Growth Rates 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -3.4% | 14.1% | 11.2% | 34.2% | -21.3% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 7.0% | 19.4% | 5.5% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 5.3% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | · | · | · | 217.5% | · | · | · | · | · | · | · | · | |
| Net Income YoY | · | · | -58.1% | 248.2% | · | · | · | · | · | · | · | · |
Valuation (TTM) 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.19B | $1.23B | $1.08B | $969M | $722M | $917M | $855M | $771M | $807M | $772M | $501M | $359M | |
| Net Income TTM | $-28M | $-23M | $200M | $477M | $137M | $-55M | $-88M | $167M | $-64M | $83M | $10M | $3M | |
| P/E | -9.6 | 11.5 | 14.6 | 12.5 | 47.7 | -82.8 | -34.9 | 14.8 | -36.5 | 13.4 | · | · | |
| Earnings Yield | -10.4% | 8.7% | 6.9% | 8.0% | 2.1% | -1.2% | -2.9% | 6.8% | -2.7% | 7.4% | · | · |
Income Statement 12
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $363M | $275M | $249M | $315M | $342M | $282M | $294M | $319M | $360M | $257M | $232M | $308M | $293M | $245M | $24M | $302M | |
| Operating Expenses | $304M | $292M | $299M | $308M | $261M | $515M | $847M | $284M | $293M | $278M | $283M | $276M | $267M | $280M | $197M | $261M | |
| Operating Income | $60M | $-17M | $-48M | $5M | $90M | $-233M | $-553M | $49M | $66M | $-21M | $-51M | $32M | $26M | $-35M | $-172M | $49M | |
| Other Non-op | $9M | $8M | $7M | $5M | $5M | $3M | $3M | $4M | $18M | $22M | $1M | $3M | $2M | $3M | $2M | $1M | |
| Pretax Income | $2M | $-99M | $-81M | $-18M | $12M | $-349M | $-525M | $-30M | $79M | $22M | $-261M | $128M | $72M | $-218M | $-151M | $277M | |
| Income Tax | $-11M | $-51M | $-35M | $43M | $-38M | $-42M | $-84M | $34M | $21M | $-13M | $-33M | $28M | $16M | $-36M | $-17M | $45M | |
| Net Income | $38M | $33M | $28M | $-37M | $79M | $-98M | $-115M | $-40M | $62M | $70M | $112M | $53M | $49M | $-14M | $35M | $79M | |
| EPS (Basic) | $0.40 | $0.35 | $0.31 | $-0.40 | $0.84 | $-1.05 | $-1.23 | $-0.43 | $0.66 | $0.75 | $1.25 | $0.57 | $0.53 | $-0.17 | $0.36 | $0.93 | |
| EPS (Diluted) | $0.40 | $0.35 | · | $-0.40 | $0.84 | $-1.05 | · | $-0.43 | $0.66 | $0.75 | · | $0.57 | $0.53 | $0.06 | · | $0.93 | |
| Shares (Basic) | 94,300,000 | 94,100,000 | -187,800,000 | 94,000,000 | 94,000,000 | 93,700,000 | -187,000,000 | 93,500,000 | 93,500,000 | 93,500,000 | -181,400,000 | 93,400,000 | 92,300,000 | 87,300,000 | -168,000,000 | 85,100,000 | |
| Shares (Diluted) | 94,300,000 | 94,100,000 | -187,800,000 | 94,000,000 | 94,000,000 | 93,700,000 | -187,000,000 | 93,500,000 | 93,500,000 | 93,500,000 | -182,000,000 | 93,400,000 | 92,300,000 | 87,900,000 | -168,600,000 | 85,600,000 | |
| EBITDA | · | $-17M | · | $5M | $90M | $-233M | · | $49M | $66M | $-21M | · | $73M | $64M | $3M | · | $49M |
Balance Sheet 21
| 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 | $500M | $943M | $960M | $711M | $880M | $1.53B | $283M | $290M | $281M | $245M | · | $332M | $587M | $238M | · | $225M | |
| Receivables | $162M | $130M | $102M | $109M | $148M | $128M | $105M | $116M | $151M | $133M | · | $139M | $152M | $141M | · | $127M | |
| Inventory | $111M | $107M | $103M | $100M | $100M | $104M | $108M | $102M | $93M | $88M | · | $78M | $71M | $59M | · | $46M | |
| Other Current Assets | $142M | $99M | $121M | $131M | $145M | $118M | $130M | $145M | $157M | $141M | · | $96M | $94M | $76M | · | $88M | |
| Current Assets | $1.06B | $1.43B | $1.42B | $1.21B | $1.46B | $2.08B | $860M | $852M | $1.50B | $2.18B | · | $1.12B | $1.45B | $1.36B | · | $799M | |
| PP&E (Net) | $15.19B | $15.29B | $15.37B | $15.05B | $14.87B | $14.78B | $14.55B | $14.61B | $14.64B | $14.73B | $14.84B | $15.69B | $15.83B | $15.18B | $14.19B | $11.44B | |
| PP&E (Gross) | $18.96B | $18.94B | $18.88B | $18.42B | $18.11B | $17.89B | $17.54B | $17.46B | $17.37B | $17.32B | · | $18.17B | $18.17B | $17.39B | · | $13.40B | |
| Accum. Depreciation | $3.78B | $3.65B | $3.51B | $3.37B | $3.24B | $3.11B | $2.98B | $2.85B | $2.73B | $2.59B | · | $2.48B | $2.34B | $2.22B | · | $1.95B | |
| Goodwill | · | · | $0 | $0 | $0 | $0 | $253M | $828M | $833M | $833M | · | $913M | $898M | $891M | · | $891M | |
| Intangibles | $1.56B | $1.61B | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Other Non-current Assets | $548M | $572M | $534M | $532M | $683M | $1.01B | $1.02B | $894M | $976M | $803M | · | $452M | $437M | $349M | · | $298M | |
| Total Assets | $18.99B | $19.51B | $19.59B | $19.12B | $20.50B | $21.40B | $20.29B | $20.90B | $21.70B | $22.34B | $22.51B | $23.21B | $23.57B | $22.65B | $23.05B | $18.47B | |
| Accounts Payable | $44M | $51M | $58M | $57M | $60M | $63M | $65M | $71M | $59M | $72M | · | $280M | $432M | $774M | · | $179M | |
| Current Liabilities | $835M | $1.40B | $1.57B | $1.62B | $1.90B | $1.12B | $1.09B | $422M | $1.15B | $1.60B | · | $1.84B | $1.18B | $983M | · | $419M | |
| Other Non-current Liabilities | $186M | $186M | $188M | $194M | $226M | $222M | $200M | $258M | $216M | $236M | · | $211M | $210M | $194M | · | $374M | |
| Total Liabilities | $8.38B | $8.78B | $8.70B | $8.15B | $9.22B | $8.85B | $7.43B | $7.30B | $7.84B | $8.36B | · | $8.80B | $8.93B | $8.07B | · | $5.88B | |
| Long-term Debt | $6.03B | $6.33B | $6.20B | $5.86B | $6.63B | $6.50B | $5.31B | $5.17B | $5.77B | $6.29B | · | $6.48B | $6.49B | $5.34B | · | $4.81B | |
| Total Debt | · | $6.33B | · | $5.86B | $6.63B | $6.50B | · | $5.17B | $5.77B | $6.29B | · | $6.48B | $6.49B | $5.34B | · | $4.81B | |
| AOCI | $-5M | $-5M | $-5M | $-5M | $-6M | $-6M | $-6M | $-6M | $-7M | $-7M | · | $-7M | $-7M | $-7M | · | $-8M | |
| Stockholders' Equity | $10.61B | $10.73B | $10.90B | $10.98B | $11.27B | $12.55B | $12.87B | $13.60B | $13.87B | $13.98B | $14.06B | $14.41B | $14.53B | $14.48B | $14.67B | $12.56B | |
| Liabilities + Equity | $18.99B | $19.51B | $19.59B | $19.12B | $20.50B | $21.40B | $20.29B | $20.90B | $21.70B | $22.34B | · | $23.21B | $23.57B | $22.65B | · | $18.47B |
Cash Flow 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Deferred Tax | $31M | $-43M | $-1M | $41M | $-41M | $-41M | $-75M | $35M | $30M | $11M | $18M | $32M | $18M | $-34M | $-6M | $44M | |
| Amort. of Intangibles | $20M | $20M | $22M | $20M | $21M | $20M | $20M | $21M | $20M | $21M | $21M | $21M | $20M | $20M | $34M | $30M | |
| Operating Cash Flow | $233M | $-5M | $186M | $231M | $232M | $90M | $283M | $208M | $231M | $78M | $179M | $256M | $214M | $82M | $165M | $202M | |
| CapEx | $241M | $25M | $274M | $514M | $81M | $89M | $52M | $56M | $69M | $64M | $205M | $257M | $406M | $401M | $393M | $209M | |
| Investing Cash Flow | $-235M | $-19M | $-267M | $632M | $314M | $-49M | $-108M | $596M | $706M | $42M | $370M | $-134M | $-629M | $199M | $-1.16B | $264M | |
| Debt Issued | $232M | $294M | $1.28B | $74M | $338M | $1.75B | $155M | $175M | $0 | $24M | $978M | $315M | $1.01B | $63M | $1.41B | $0 | |
| Net Debt Issued | · | $294M | · | · | · | $1.75B | · | · | · | $24M | · | · | · | $63M | · | · | |
| Stock Issued | $0 | $3M | $0 | $0 | $1M | $3M | $0 | $0 | $0 | $3M | $0 | $0 | $161M | $154M | $0 | $145M | |
| Net Stock Activity | · | $3M | · | · | · | $3M | · | · | · | $3M | · | · | · | $154M | · | · | |
| Financing Cash Flow | $-438M | $2M | $329M | $-1.02B | $-1.20B | $1.22B | $-193M | $-779M | $-917M | $-113M | $-636M | $-369M | $754M | $-276M | $1.05B | $-498M | |
| Net Change in Cash | $-440M | $-22M | $248M | $-155M | $-656M | $1.26B | $-18M | $25M | $20M | $7M | $-87M | $-247M | $339M | $5M | $59M | $-32M | |
| Taxes Paid | · | $8M | $48M | $0 | $1M | $4M | $85M | $-5M | $-9M | $-24M | $2M | $-2M | $1M | $0 | · | · | |
| Free Cash Flow | · | $-30M | · | · | · | $1M | · | · | · | $14M | · | · | · | $-319M | · | · |
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 | · | -6.2% | · | 1.6% | 26.3% | -82.6% | · | 15.4% | 18.3% | -8.2% | · | 19.9% | 18.3% | 1.0% | · | 16.2% | |
| Net Margin | · | 12.0% | · | -11.8% | 23.1% | -34.8% | · | -12.5% | 17.2% | 27.2% | · | 14.4% | 14.0% | -4.7% | · | 26.2% | |
| Pretax Margin | · | -36.0% | · | -5.7% | -1.5% | -132.3% | · | -16.6% | 21.9% | 8.6% | · | 44.4% | 30.9% | -61.5% | · | 91.7% | |
| EBITDA Margin | · | -6.2% | · | 1.6% | 26.3% | -82.6% | · | 15.4% | 18.3% | -8.2% | · | 19.9% | 18.3% | 1.0% | · | 16.2% | |
| ROA | · | 0.16% | · | -0.18% | 0.37% | -0.45% | · | -0.18% | 0.27% | 0.31% | · | 0.25% | 0.23% | -0.07% | · | 0.50% | |
| ROE | · | 0.28% | · | -0.30% | 0.63% | -0.74% | · | -0.29% | 0.44% | 0.49% | · | 0.39% | 0.37% | -0.11% | · | 0.75% | |
| ROIC | · | -0.05% | · | 0.10% | -3.6% | -1.1% | · | 0.41% | 0.25% | -0.16% | · | 0.28% | 0.25% | 0.01% | · | 0.24% |
Liquidity & Solvency 4
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | · | 1.0 | · | 0.7 | 0.8 | 1.8 | · | 2.0 | 1.3 | 1.4 | · | 0.6 | 1.2 | 1.4 | · | 1.9 | |
| Quick Ratio | · | 0.8 | · | 0.5 | 0.5 | 1.5 | · | 1.0 | 0.4 | 0.2 | · | 0.3 | 0.6 | 0.4 | · | 0.8 | |
| Debt / Equity | · | 0.6 | · | 0.5 | 0.6 | 0.5 | · | 0.4 | 0.4 | 0.5 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | |
| LT Debt / Equity | · | 0.5 | · | 0.4 | 0.5 | 0.5 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.4 |
Efficiency 2
| 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 | |
| Receivables Turnover | · | 2.1 | · | 2.8 | 2.3 | 2.2 | · | 2.5 | 2.4 | 1.9 | · | 2.8 | 2.3 | 2.1 | · | 2.6 |
Valuation (TTM) 4
| 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 | $1.29B | $1.21B | · | $1.26B | $1.30B | $1.22B | · | $1.24B | $1.22B | $1.10B | · | $1.15B | $1.20B | $1.19B | · | $1.20B | |
| Net Income TTM | $113M | $-23M | · | $-96M | $3M | $-6M | · | $145M | $234M | $158M | · | $167M | $333M | $428M | · | $460M | |
| P/E | 9.9 | -40.8 | · | -9.8 | 410.0 | -135.7 | · | 17.8 | 11.0 | 15.7 | · | 14.2 | 14.2 | 11.4 | · | 13.1 | |
| Earnings Yield | 10.1% | -2.5% | · | -10.2% | 0.24% | -0.74% | · | 5.6% | 9.1% | 6.3% | · | 7.0% | 7.0% | 8.8% | · | 7.6% |
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 | $1.19B | $1.23B | $1.08B | $969M | $722M |
| Operating Margin % | -15.7% | -37.3% | -2.6% | 16.3% | 23.8% |
| Net Income | $-28M | $-23M | $200M | $477M | $137M |
| Diluted EPS | — | — | — | $5.62 | $1.77 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.6 | 0.4 | 0.4 | 0.4 | 0.5 |
| Current Ratio | 0.9 | 0.8 | 1.3 | 1.4 | 1.1 |
| Quick Ratio | 0.7 | 0.4 | 0.2 | 0.3 | 0.2 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-219M | $559M | $-538M | $-575M | $564M |
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Institutional owners (13F) 255 filers · $728.9M 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 |
|---|---|---|---|---|
| 38 (+1 vs prior Q) | 27 (-1 vs prior Q) | 56 (-2 vs prior Q) | 66 (0 vs prior Q) | +4.5M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| Anchorage Capital Advisors, L.P. | $91,570,642 | 7,753,653 | 12.56% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $75,347,800 | 6,380,000 | 10.34% | Shares |
| TWO SIGMA INVESTMENTS, LP | $38,782,292 | 3,283,852 | 5.32% | Shares |
| AMERICAN CENTURY COMPANIES INC | $28,336,666 | 2,399,379 | 3.89% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $24,080,590 | 2,039,000 | 3.30% | Call option |
| Yaupon Capital Management LP | $22,967,509 | 1,944,751 | 3.15% | Shares |
| Ripple Effect Asset Management LP | $16,272,000 | 1,600,000 | 2.23% | Put option |
| JANE STREET GROUP, LLC | $16,271,818 | 1,377,800 | 2.23% | Call option |
| Prescott Group Capital Management, L.L.C. | $15,720,114 | 1,331,085 | 2.16% | Shares |
| Ripple Effect Asset Management LP | $15,255,000 | 1,500,000 | 2.09% | Shares |
| Parallax Volatility Advisers, L.P. | $15,197,108 | 1,286,800 | 2.08% | Put option |
| BANK OF AMERICA CORP /DE/ | $13,700,273 | 1,160,057 | 1.88% | Shares |
| ALGERT GLOBAL LLC | $13,554,597 | 1,147,722 | 1.86% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $13,483,477 | 1,141,700 | 1.85% | Put option |
| Endure Capital Management, LLC | $11,733,719 | 993,541 | 1.61% | Shares |
| Walleye Trading LLC | $11,510,026 | 974,600 | 1.58% | Put option |
| Rockefeller Capital Management L.P. | $10,515,120 | 890,357 | 1.44% | Shares |
| PEAK6 LLC | $10,338,474 | 875,400 | 1.42% | Call option |
| Assenagon Asset Management S.A. | $10,303,505 | 872,439 | 1.41% | Shares |
| GOLDMAN SACHS GROUP INC | $10,144,908 | 859,010 | 1.39% | Shares |
| CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC | $9,387,202 | 794,852 | 1.29% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $8,565,498 | 725,275 | 1.18% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $8,481,576 | 718,169 | 1.16% | Shares |
| Indivisible Partners | $8,190,235 | 693,500 | 1.12% | Shares |
| Voleon Capital Management LP | $7,872,995 | 666,638 | 1.08% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $7,497,968 | 634,883 | 1.03% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $7,426,789 | 628,856 | 1.02% | Shares |
| GAMCO INVESTORS, INC. ET AL | $7,086,413 | 600,035 | 0.97% | Shares |
| Greenland Capital Management LP | $7,000,047 | 592,722 | 0.96% | Shares |
| Qube Research & Technologies Ltd | $6,737,263 | 570,471 | 0.92% | Shares |
| Baird Financial Group, Inc. | $6,571,049 | 556,397 | 0.90% | Shares |
| Point72 Asset Management, L.P. | $6,311,595 | 534,428 | 0.87% | Shares |
| GABELLI FUNDS LLC | $6,284,798 | 532,159 | 0.86% | Shares |
| ARDSLEY ADVISORY PARTNERS LP | $6,200,250 | 525,000 | 0.85% | Shares |
| KLP KAPITALFORVALTNING AS | $5,762,099 | 487,900 | 0.79% | Shares |
| FLAX POND CAPITAL, LLC | $5,567,045 | 471,384 | 0.76% | Shares |
| NOMURA HOLDINGS INC | $5,564,872 | 471,200 | 0.76% | Call option |
| NOMURA HOLDINGS INC | $5,564,872 | 471,200 | 0.76% | Put option |
| Trexquant Investment LP | $5,444,434 | 461,002 | 0.75% | Shares |
| Balyasny Asset Management L.P. | $5,396,520 | 456,945 | 0.74% | Shares |
| TUDOR INVESTMENT CORP ET AL | $5,357,075 | 453,605 | 0.73% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $5,212,686 | 441,379 | 0.72% | Shares |
| Anchorage Capital Advisors, L.P. | $4,596,452 | 389,200 | 0.63% | Call option |
| CITADEL ADVISORS LLC | $4,491,343 | 380,300 | 0.62% | Call option |
| TWO SIGMA ADVISERS, LP | $4,327,000 | 432,700 | 0.59% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $4,251,742 | 360,012 | 0.58% | Shares |
| FOURSIXTHREE CAPITAL LP | $4,151,676 | 351,539 | 0.57% | Shares |
| Electron Capital Partners, LLC | $4,046,495 | 342,633 | 0.56% | Shares |
| STATE STREET CORP | $3,777,570 | 319,862 | 0.52% | Shares |
| EP Wealth Advisors, LLC | $3,405,022 | 288,317 | 0.47% | Shares |
| CastleKnight Management LP | $3,369,393 | 285,300 | 0.46% | Shares |
| JANE STREET GROUP, LLC | $3,364,669 | 284,900 | 0.46% | Put option |
| Parallax Volatility Advisers, L.P. | $3,246,628 | 274,905 | 0.45% | Shares |
| Aberdeen Group plc | $3,208,222 | 271,653 | 0.44% | Shares |
| FIRST TRUST ADVISORS LP | $2,987,044 | 252,925 | 0.41% | Shares |
| WOLVERINE TRADING, LLC | $2,819,110 | 273,700 | 0.39% | Put option |
| Cubist Systematic Strategies, LLC | $2,755,938 | 270,987 | 0.38% | Shares |
| CITADEL ADVISORS LLC | $2,625,363 | 222,300 | 0.36% | Put option |
| Susquehanna Portfolio Strategies, LLC | $2,427,061 | 205,509 | 0.33% | Shares |
| GROUP ONE TRADING LLC | $2,118,702 | 179,399 | 0.29% | Shares |
| WOLVERINE TRADING, LLC | $2,104,290 | 204,300 | 0.29% | Call option |
| Swiss National Bank | $2,004,157 | 169,700 | 0.27% | Shares |
| Cubist Systematic Strategies, LLC | $1,957,725 | 192,500 | 0.27% | Put option |
| Walleye Trading LLC | $1,948,615 | 164,997 | 0.27% | Shares |
| Abundance Wealth Counselors | $1,827,716 | 154,760 | 0.25% | Shares |
| PEAK6 LLC | $1,771,500 | 150,000 | 0.24% | Put option |
| ALPS ADVISORS INC | $1,685,653 | 142,731 | 0.23% | Shares |
| Amundi | $1,672,414 | 141,610 | 0.23% | Shares |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $1,593,925 | 134,964 | 0.22% | Shares |
| Walleye Trading LLC | $1,582,540 | 134,000 | 0.22% | Call option |
| Raiffeisen Bank International AG | $1,422,000 | 120,000 | 0.20% | Shares |
| Empowered Funds, LLC | $1,412,783 | 119,626 | 0.19% | Shares |
| CITADEL ADVISORS LLC | $1,373,916 | 116,335 | 0.19% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $1,356,365 | 127,718 | 0.19% | Shares |
| Engineers Gate Manager LP | $1,281,503 | 108,510 | 0.18% | Shares |
| RAYMOND JAMES FINANCIAL INC | $1,220,210 | 103,320 | 0.17% | Shares |
| Cubist Systematic Strategies, LLC | $1,134,972 | 111,600 | 0.16% | Call option |
| Russell Investments Group, Ltd. | $1,044,034 | 88,402 | 0.14% | Shares |
| NEUBERGER BERMAN GROUP LLC | $904,531 | 76,590 | 0.12% | Shares |
| WOLVERINE TRADING, LLC | $894,916 | 86,885 | 0.12% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $770,567 | 65,247 | 0.11% | Shares |
| Greenland Capital Management LP | $708,600 | 60,000 | 0.10% | Call option |
| Crawford Fund Management, LLC | $651,912 | 55,200 | 0.09% | Put option |
| VANGUARD ASSET MANAGEMENT, Ltd | $643,751 | 54,509 | 0.09% | Shares |
| TORONTO DOMINION BANK | $590,500 | 50,000 | 0.08% | Call option |
| VIRGINIA RETIREMENT SYSTEMS ET Al | $575,500 | 57,550 | 0.08% | Shares |
| EntryPoint Capital, LLC | $559,003 | 47,333 | 0.08% | Shares |
| VANGUARD GROUP INC | $545,090 | 54,509 | 0.07% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $540,485 | 45,765 | 0.07% | Shares |
| CAISSE DES DEPOTS ET CONSIGNATIONS | $539,540 | 45,685 | 0.07% | Shares |
| Ameritas Advisory Services, LLC | $505,412 | 42,795 | 0.07% | Shares |
| Inspire Advisors, LLC | $501,583 | 42,471 | 0.07% | Shares |
| Nuveen, LLC | $480,088 | 40,651 | 0.07% | Shares |
| Credit Capital Investments LLC | $472,400 | 40,000 | 0.06% | Shares |
| JANUS HENDERSON GROUP PLC | $456,875 | 43,000 | 0.06% | Shares |
| Samalin Investment Counsel, LLC | $453,625 | 38,410 | 0.06% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $452,075 | 38,279 | 0.06% | Shares |
| Toroso Investments, LLC | $439,410 | 43,941 | 0.06% | Shares |
| Kestra Advisory Services, LLC | $425,853 | 36,059 | 0.06% | Shares |
| Oakum Bay Capital LLC | $424,630 | 39,984 | 0.06% | Shares |
Company insiders 14 insiders · 10 officers · 8 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Songyuan Alan Liu | President and CEO | Feb. 18, 2025 A | 65,922 | 0 | 0 | $0 |
| James L Robo | Chairman & CEO | Feb. 22, 2022 F | 193,348 | 0 | 0 | $0 |
| Jessica Geoffroy | Chief Financial Officer | Feb. 18, 2025 A | 7,191 | 0 | 0 | $0 |
| Terrell Kirk Crews II | Chief Financial Officer | Feb. 20, 2024 F | 8,436 | 0 | 0 | $0 |
| Rebecca J Kujawa | President | Feb. 20, 2024 F | 32,342 | 0 | 0 | $0 |
| Michael Dunne | Treasurer | Feb. 20, 2024 F | 5,665 | 0 | 0 | $0 |
| James Michael May | Controller/CAO | Feb. 20, 2024 F | 2,571 | 0 | 0 | $0 |
| Mark E Hickson | EVP, Strategy & Corp Dev | Feb. 20, 2024 F | 25,804 | 0 | 0 | $0 |
| Charles E Sieving | General Counsel | Feb. 20, 2024 F | 39,321 | 0 | 0 | $0 |
| Paul I Cutler | Treasurer & Asst. Sec | Feb. 22, 2022 F | 6,928 | 0 | 0 | $0 |
| John W Ketchum | Director | Feb. 18, 2025 F | 150,256 | 0 | 0 | $0 |
| Susan D Austin | Director | Feb. 18, 2025 A | 46,580 | 0 | 0 | $0 |
| Peter H Kind | Director | Feb. 18, 2025 A | 56,760 | 0 | 0 | $0 |
| Robert J Byrne | Director | Feb. 18, 2025 A | 54,297 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 16 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 |
|---|---|---|---|---|
| UPGR · DBX ETF Trust | 2.30% | 12,081 NS | May 29, 2026 | N-PORT |
| ACES · ALPS ETF Trust | 1.28% | 148,704 NS | May 31, 2026 | N-PORT |
| BSJS · Invesco Exchange-Traded Self-Indexe… | 0.96% | 6,410,000 | Aug. 8, 2026 | Daily |
| BSJR · Invesco Exchange-Traded Self-Indexe… | 0.86% | 7,562,000 | Aug. 8, 2026 | Daily |
| RNRG · Global X Funds | 0.71% | 21,549 NS | April 30, 2026 | N-PORT |
| ESSC · Strategy Shares | 0.23% | 5,696 NS | April 30, 2026 | N-PORT |
| ERTH · Invesco Exchange-Traded Fund Trust | 0.14% | 16,625 SH | Aug. 8, 2026 | Daily |
| HAPS · Harbor ETF Trust | 0.09% | 14,004 NS | April 30, 2026 | N-PORT |
| AVUV · AMERICAN CENTURY ETF TRUST | 0.09% | 1,956,625 NS | May 31, 2026 | N-PORT |
| CCSO · Tidal Trust II | 0.08% | 3,640 NS | April 30, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.07% | 152,963 NS | May 31, 2026 | N-PORT |
| VPU · VANGUARD WORLD FUND | 0.06% | 578,367 SH | Aug. 8, 2026 | Daily |
| FUTY · FIDELITY COVINGTON TRUST | 0.06% | 137,077 NS | April 30, 2026 | N-PORT |
| NEAR · iShares U.S. ETF Trust | 0.01% | 602,000 SH | Aug. 8, 2026 | Daily |
| WSML · iShares Trust | 0.01% | 6,854 SH | Aug. 8, 2026 | Daily |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.00% | 20,822 NS | May 31, 2026 | N-PORT |