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Ownership

13F as of Q2 2026 · 78.1M shares outstanding

Who owns FORM?

By type of holder
Institutions 91.6% Insiders 0.9% Everyone else 7.6%
Concentration Top 10 holders own 44.2%
BlackRock, Inc. 13.4% · Vanguard Portfolio Management LLC 6.7%
Institutional ownership
91.6%
-3.9 pts vs last qtr
Institutional holders
509
+112 vs last qtr
Net shares bought
−3.1M
by institutions in Q2 2026
New / sold out
160 / 48
positions opened vs closed

How is ownership changing?

Institutions, last 8 quarters

Biggest buyers in Q2 2026
  • Norges Bank NEW +1.0M
  • GF Fund Management Co. LTD. +764.0K

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Biggest sellers in Q2 2026
  • BlackRock, Inc. −1.8M
  • Earnest Partners LLC −1.1M

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Who is planning to sell?

Notices of proposed sale, last 12 months
$25.8M
36 notices from 13 people
Shares covered
271.6K
0.35% of the company
Arranged in advance
64%
of the value is under a 10b5-1 plan
Under a 10b5-1 plan No plan
$0$2.1M$4.1MNov 2025: $420.7K under a 10b5-1 planNov 2025: $1.4M without a planNovDec 2025: $432.2K under a 10b5-1 planDec 2025: $151.1K without a planDecJan 2026: $3.6M under a 10b5-1 planJanFeb 2026: $815.6K under a 10b5-1 planFeb 2026: $3.1M without a planFebMar 2026: $1.3M under a 10b5-1 planMarApr 2026: $1.4M under a 10b5-1 planAprMay 2026: $1.2M under a 10b5-1 planMay 2026: $2.9M without a planMayJun 2026: $1.4M under a 10b5-1 planJun 2026: $1.5M without a planJunJul 2026: $560.2K under a 10b5-1 planJulAug 2026: $2.1M under a 10b5-1 planAugSep 2026: $1.8M under a 10b5-1 planSep 2026: $201.8K without a planSepOct 2026: $1.4M under a 10b5-1 planOct
Largest proposed sellers
  • Mike Slessor Officer 10b5-1 $16.2M
  • Sheri Lynn Rhodes Director $1.5M

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Every notice on Red Flags →

A Form 144 is notice of a planned sale, not the sale itself. What insiders actually sold is on Insider Transactions.

Is your stake being diluted?

Diluted share count, FY2016–FY2025
+20.6%
+2.10% a year
Each share's claim on the business
−17.1%
shrank without buying or selling a share
Spent on buybacks vs paid in stock
$225M vs $271M
over 10 fiscal years
Diluted shares, split-adjusted
63.0M71.5M79.9M2016: 64.9M shares'162017: 74.2M shares'172018: 75.2M shares'182019: 77.3M shares'192020: 79.0M shares'202021: 79.1M shares'212022: 78.2M shares'222023: 78.2M shares'232024: 78.4M shares'242025: 78.3M shares'25
Buybacks Stock-based comp
$0$41.2M$82.3M2016 buybacks: $02016 stock comp: $11.7M'162017 buybacks: $19.0M2017 stock comp: $16.3M'172018 buybacks: $02018 stock comp: $17.8M'182019 buybacks: $02019 stock comp: $23.2M'192020 buybacks: $02020 stock comp: $23.8M'202021 buybacks: $24.0M2021 stock comp: $29.4M'212022 buybacks: $82.3M2022 stock comp: $31.3M'222023 buybacks: $19.8M2023 stock comp: $38.6M'232024 buybacks: $53.3M2024 stock comp: $39.8M'242025 buybacks: $26.2M2025 stock comp: $38.6M'25

How patient are the owners?

Institutional shares by how long they've been held
5+ years68% 3–5 years6% 1–3 years6% Under 1 year19%
Quarterly turnover
16.8%
of institutional shares changed hands
Top 10 managers, median time held
5 years

Super Investors

Investment managers reporting FORM on Form 13F
B
BlackRock, Inc.
Shares
10.5M
% of company
13.42%
Change vs last qtr
−1.8M (−14.4%)
Held since
≤2021
VP
Vanguard Portfolio Management LLC
Shares
5.2M
% of company
6.71%
Change vs last qtr
−637.8K (−10.8%)
Held since
≤2021

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Institutional Funds

Mutual funds and ETFs reporting FORM on Form N-PORT; together they hold 50.6% of the company
Position value
$751M
% of company
6.01%
% of the fund
0.67%
As of
June 30, 2026
VT
Position value
$396M
% of company
3.17%
% of the fund
0.02%
As of
June 30, 2026

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Insiders and 5%+ holders

From Forms 3/4/5 and Schedules 13D/G
SM
Slessor Mike
Insider
Shares
455.6K
% of company
0.58%
Change vs last qtr
—
Held since
—
SD
St Dennis Thomas
Insider
Shares
74.3K
% of company
0.10%
Change vs last qtr
—
Held since
—

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