Q 10-K & 10-Q changes, risk factors and insider trading
Qnity Electronics, Inc. · NYSE · Semiconductors & Related Devices · CIK 2058873 · All filings on SEC.gov
At a glance
What changed in the latest 10-K
Comparison not available: Not available: fewer than two 10-K filings on EDGAR to compare (only one so far)..
What changed in the latest 10-Q
Risk Factors
There have been no material changes to our risk factors as previously disclosed in Part I, Item 1A, "Risk Factors," of our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 26, 2026.
No wording changes found in this section.
Full comparison: every changed paragraph (0)
Management's Discussion & Analysis (MD&A)
New heading “Senior Secured Term Loan Facility”
Largest changes
“On July 1, 2026 (the "Repricing Closing Date"), we entered into the first amendment to the Credit Agreement, as defined in Note 12 to the unaudited interim Consolidated Financial Statements in this Quarterly Report (the "First Amendment"). The First Amendment reduced the applicable margin on term SOFR borrowings under the Senior Secured Term Loan Facility from 2.00% to 1.75%, with no material changes to principal, maturity, amortization, or covenant structure. …”see in full comparison
“Our effective tax rate fluctuates based on, among other factors, where income is earned and the level of income relative to attributes. The tax provision for the second quarter ended June 30, 2026 resulted in an effective tax rate of 31.7% on pretax income of $199 million, compared with an effective tax rate of 22.4% on pretax income of $255 million for the second quarter ended June 30, 2025. …”see in full comparison
see in full comparisonRecent and ongoingOngoing developments in U.S. and foreign policy, includingthe conflict in the Middle East anduncertainty regarding tariffs on product imports, have heightened global trade tensions and increased macroeconomic and geopolitical uncertainty. To date the conflict in the Middle East has not materially impacted our financial condition, however, the conflict has increased disruption, instability and volatility in markets globally, and if it intensifies or expands could adversely effect our economic condition, supply chains and/or energy prices. The global nature of our business exposes us and our customers to risks arising from these conditions, including disruptions in the availability and pricing of raw materials, shipping logistics challenges, disruptions in global energy markets, fuel price increases, potential retaliatory actions by other countries, and broader impacts on economic conditions, which could affect our financial condition, liquidity, or results of operations. These factors may reduce demand for our products, impair our competitiveness—particularly relative to locally or domestically sourced alternatives—harm customer relationships,reduce demand for out products,and/or decrease profitability, any of which could adversely affect our business, financial condition, and results of operations. While we have meaningful exposure to global trade dynamics, our local‑for‑local sourcing of raw materials helps limit our exposure to tariff‑related risks and shipping logistics. However, these actions may not fully mitigate the impact of prolonged or escalating geopolitical or trade disruptions.
“For the first six months of 2026, transformation, integration and other charges were $70 million, up from $19 million for the same period in the prior year. The activity for the six months ended June 30, 2026 primarily consisted of costs incurred to support our information technology independence initiatives of approximately $48 million, costs related to transformation initiatives of approximately $10 million, and other integration‑related costs of approximately $6 million. …”see in full comparison
“Semiconductor Technologies net sales were $1,466 million for the six months ended June 30, 2026, up 14% as compared to $1,288 million for the six months ended June 30, 2025. Net sales increased due to a 15% increase in volume. The increase in sales volume was due to ongoing end-market demand strength related to improved customer utilization rates and growth in AI driven applications, particularly in advanced nodes, including advanced packaging and high bandwidth memory. These increases were partially offset by unfavorable local price and product mix.”see in full comparison
Full comparison: every changed paragraph (42)
Recent and ongoingOngoing developments in U.S. and foreign policy, including the conflict in the Middle East and uncertainty regarding tariffs on product imports, have heightened global trade tensions and increased macroeconomic and geopolitical uncertainty. To date the conflict in the Middle East has not materially impacted our financial condition, however, the conflict has increased disruption, instability and volatility in markets globally, and if it intensifies or expands could adversely effect our economic condition, supply chains and/or energy prices. The global nature of our business exposes us and our customers to risks arising from these conditions, including disruptions in the availability and pricing of raw materials, shipping logistics challenges, disruptions in global energy markets, fuel price increases, potential retaliatory actions by other countries, and broader impacts on economic conditions, which could affect our financial condition, liquidity, or results of operations. These factors may reduce demand for our products, impair our competitiveness—particularly relative to locally or domestically sourced alternatives—harm customer relationships, reduce demand for out products, and/or decrease profitability, any of which could adversely affect our business, financial condition, and results of operations. While we have meaningful exposure to global trade dynamics, our local‑for‑local sourcing of raw materials helps limit our exposure to tariff‑related risks and shipping logistics. However, these actions may not fully mitigate the impact of prolonged or escalating geopolitical or trade disruptions.
Senior Secured Term Loan Facility
On July 1, 2026 (the "Repricing Closing Date"), we entered into the first amendment to the Credit Agreement, as defined in Note 12 to the unaudited interim Consolidated Financial Statements in this Quarterly Report (the "First Amendment"). The First Amendment reduced the applicable margin on term SOFR borrowings under the Senior Secured Term Loan Facility from 2.00% to 1.75%, with no material changes to principal, maturity, amortization, or covenant structure. In connection with the repricing, the repriced borrowings under the Senior Secured Term Loan Facility are subject to a 1.00% premium on certain prepayments, repayments, and amendments constituting a “Repricing Event” occurring on or prior to the date that is six (6) months after the Repricing Closing Date.We will account for the amendment primarily as a debt modification. The amendment is expected to reduce annual cash interest expense by approximately $6 million.
On February 20, 2026, our Board of Directors approved a share repurchase authorization of up to $500 million of common stock (the "$500M Authorization"). Under the $500M Authorization, repurchases of common stock may be effected from time to time, either on the open market (including pre-set trading plans) or other transactions in accordance with applicable securities laws. The $500M Authorization has no expiration date and will terminate once the authorized amount of shares have been repurchased and retired or when terminated by our Board of Directors. The timing and amount of repurchases under the program will depend on a variety of factors. During the three months ended MarchJune 31,30, 2026, we repurchased 219,581183,107 shares under the $500M Authorization for $25 million at an average share price of $113.78$136.51 per share. During the six months ended June 30, 2026, we repurchased 402,688 shares under the $500M Authorization for $50 million at an average share price of $124.12 per share. All shares repurchased under the $500M Authorization have been retired. As of MarchJune 31,30, 2026, the aggregate amount of common stock remaining for repurchase under the $500M Authorization was $475$450 million.
1.Includes United States, Canada, and Latin America
We reported net sales for the three months ended MarchJune 31,30, 2026 of $1.3$1.4 billion, up 18%22% from $1.1$1.2 billion for the three months ended MarchJune 31,30, 2025, primarily due to a 17%23% increase in volume and a 1% favorable currency impact.volume. The volume increase was attributable to both Interconnect Solutions up 23%28% and Semiconductor Technologies up 12%. The favorable currency impact was primarily attributable to EMEA up 6%.18%.
Net sales for the six months ended June 30, 2026 were $2.7 billion, up 20% from $2.3 billion for the six months ended June 30, 2025, primarily due to a 20% increase in volume. The increase in volume was attributable to both Interconnect Solutions up 26% and Semiconductor Technologies up 15%.
Cost of sales were $697$763 million for the three months ended MarchJune 31,30, 2026, up 19%21% from $587$630 million for the three months ended MarchJune 31,30, 2025 primarily attributable to aan 14%18% increase in volume in addition to a 3% andincrease 2% increases attributable toin material costs and currency, respectively.costs.
Cost of sales as a percentage of net sales wasdecreased flatslightly atfrom 53%54% for both the three months ended MarchJune 31,30, 20262025 andto 2025.53% for the three months ended June 30, 2026.
Cost of sales were $1,460 million for the six months ended June 30, 2026, up 20% from $1,217 million for the six months ended June 30, 2025 primarily attributable to a 16% increase in volume in addition to 3% and 1% increases attributable to material costs and currency, respectively.
Cost of sales as a percentage of net sales was flat at 53% for both the six months ended June 30, 2026 and 2025.
R&D expense was $94$98 million for the three months ended MarchJune 31,30, 2026, up from $84$88 million for the three months ended MarchJune 31,30, 2025. R&D expense as a percentage of net sales decreased period over period from 8% for the three months ended MarchJune 31,30, 2025 to 7% for the three months ended MarchJune 31,30, 2026.
R&D expense was $192 million for the six months ended June 30, 2026, up from $172 million for the six months ended June 30, 2025. R&D expense as a percentage of net sales decreased period over period from 8% for the six months ended June 30, 2025 to 7% for the six months ended June 30, 2026.
SG&A expenses were $173$200 million in the firstsecond quarter of 2026, up from $140$154 million in the firstsecond quarter of 2025. SG&A expenses as a percentage of net sales remainedincreased flatto at 13%14% for both the three months ended MarchJune 31,30, 2026 andas compared to 13% for the three months ended June 30, 2025.
For the first six months of 2026, SG&A expenses were $373 million, up from $294 million in the first six months of 2025. SG&A expenses as a percentage of net sales increased to 14% for the six months ended June 30, 2026 as compared to 13% for the six months ended June 30, 2025.
Amortization of intangibles was $52$50 million for both the three months ended June 30, 2026 and 2025. In the first six months of 2026, amortization of intangibles was $102 million, down from $105 million in the firstsame quarterperiod of 2026, down from $55 million in the firstprior quarter of 2025.year. The decrease for the threesix months ended MarchJune 31,30, 2026 as compared with the same period of the prior year was primarily due to assets becoming fully amortized.
Transformation, integration and other charges were $28$42 million in the firstsecond quarter of 2026, up from $17$2 million of charges in the firstsecond quarter of 2025. The activity for the three months ended MarchJune 31,30, 2026 primarily consisted of costs incurred to support our information technology independence initiatives of approximately $24 million, costs related to transformation initiatives of approximately $2$8 million, and other integration‑related costs of approximately $3 million. Additionally, for the three months ended June 30, 2026 we incurred $2 million and $4 million, respectively, of severance and asset-related charges associated with organizational redesign actions under our transformation plan. The activity for the three months ended MarchJune 31,30, 2025 consisted of charges for severance and related benefits.benefits, Thethe entirety of these chargeswhich related to DuPont-approved restructuring programs that were initiated prior to our separation from DuPont into an independent publicly traded company.
For the first six months of 2026, transformation, integration and other charges were $70 million, up from $19 million for the same period in the prior year. The activity for the six months ended June 30, 2026 primarily consisted of costs incurred to support our information technology independence initiatives of approximately $48 million, costs related to transformation initiatives of approximately $10 million, and other integration‑related costs of approximately $6 million. Additionally, for the six months ended June 30, 2026 we incurred $2 million and $4 million, respectively, of severance and asset-related charges associated with organizational redesign actions under our transformation plan. The activity for the six months ended June 30, 2025 consisted of charges for severance and related benefits, the entirety of which related to DuPont-approved restructuring programs that were initiated prior to our separation from DuPont into an independent publicly traded company.
Our share of the earnings of nonconsolidated affiliates was $11 million in the second quarter of 2026, down from $13 million in the second quarter of 2025, reflecting lower earnings from the underlying nonconsolidated affiliates. For the first six months of 2026, our share of earnings of nonconsolidated affiliates was $24 million, up from $22 million in the first quartersix months of 2026,2025, up from $9 million in the first quarter of 2025. The increase for the first quarter of 2026 as compared to the same period of the prior year is due toreflecting higher earnings infrom the underlying nonconsolidated affiliates. See Note 10 to the unaudited interim Consolidated Financial Statements for additional information.
Interest expense was $61 million and $122 million for the three and six months ended MarchJune 31,30, 2026.2026, respectively. There was no interest expense for the three and six months ended MarchJune 31,30, 2025. Interest expense in 2026 was driven by interest associated with the Secured and Unsecured Notes and the Senior Secured Term Loan Facility (each as defined in Note 14 to the Consolidated Financial Statements in the Annual Report). See Note 12 to the unaudited interim Consolidated Financial Statements in this Quarterly Report for additional information.
Other income (expense) - net includes a variety of income and expense items such as interest income, indirect legacy (costs) and benefits and foreign exchange gains or losses. Other income (expense) - net was $5$27 million of expense in the three months ended MarchJune 31,30, 2026, as compared to $4 million of expense for the three months ended June 30, 2025. In the first six months of 2026, Other income (expense) - net was $32 million of expense, as compared to $2 million of incomeexpense forin the threefirst six months ended March 31,of 2025. See Note 6 to the unaudited interim Consolidated Financial Statements in this Quarterly Report for additional information.
See Note 6 to the unaudited interim Consolidated Financial Statements in this Quarterly Report for additional information.
Our effective tax rate fluctuates based on, among other factors, where income is earned and the level of income relative to attributes. The tax provision for the second quarter ended June 30, 2026 resulted in an effective tax rate of 31.7% on pretax income of $199 million, compared with an effective tax rate of 22.4% on pretax income of $255 million for the second quarter ended June 30, 2025. The increase in the effective tax rate in the second quarter of 2026 relates to taxes related to prior year uncertain tax positions for which we are indemnified, a non-deductible indemnification accrual recorded for the State of North Carolina litigation, a limitation on the deductibility of interest expense, and higher tax costs on the remittance of foreign earnings, partially offset by a reduction in foreign tax costs. The tax provision for the six months ended June 30, 2026 resulted in an effective tax rate of 28.5% on pre-tax income of $417 million, compared with an effective tax rate of 20.8%, on pre-tax income of $501 million for the six months ended June 30, 2025. The increase in the effective tax rate in 2026 relates to a limitation on the deductibility of interest expense, taxes related to prior year uncertain tax positions for which we are indemnified, higher tax costs on the remittance of foreign earnings, and a non-deductible indemnification accrual recorded for the State of North Carolina litigation, partially offset by a reduction in foreign tax costs.
Our effective tax rate fluctuates based, among other factors, on where income is earned and the level of income relative to tax attributes. For the three months ended March 31, 2026, the effective tax rate was 25.7%, compared with 19.1% for the three months ended March 31, 2025. The increase in effective tax rate in 2026 relates to a limitation on the deductibility of interest expense and higher tax costs on the remittance of foreign earnings, partially offset by a reduction in foreign tax costs.
Semiconductor Technologies net sales were $722$744 million for the three months ended MarchJune 31,30, 2026, up 12%16% as compared to $644 million for the three months ended MarchJune 31,30, 2025. Net sales increased due to aan 12%18% increase in volume. The increase in sales volume was due to ongoing end-market demand strength related to improved customer utilization rates and growth in AI driven applications, particularly in advanced nodes, including advanced packaging and high bandwidth memory. These increases were partially offset by unfavorable local price and product mix and currency impacts.
Adjusted Operating EBITDA was $263$253 million for the three months ended MarchJune 31,30, 2026, up 6%12% as compared to $247$226 million for the three months ended MarchJune 31,30, 2025, primarily due to volume growth partially offset by select growth investments primarilyto withinsupport future growth, including R&D.D and supply chain initiatives.
Semiconductor Technologies net sales were $1,466 million for the six months ended June 30, 2026, up 14% as compared to $1,288 million for the six months ended June 30, 2025. Net sales increased due to a 15% increase in volume. The increase in sales volume was due to ongoing end-market demand strength related to improved customer utilization rates and growth in AI driven applications, particularly in advanced nodes, including advanced packaging and high bandwidth memory. These increases were partially offset by unfavorable local price and product mix.
Adjusted Operating EBITDA was $516 million for the six months ended June 30, 2026, up 9% as compared to $473 million for the six months ended June 30, 2025, primarily due to volume growth partially offset by select growth investments primarily within R&D.
Interconnect Solutions net sales were $593$685 million for the three months ended MarchJune 31,30, 2026, up 25%30% from $474$526 million for the three months ended MarchJune 31,30, 2025. Net sales increased primarily due to a 23%28% increase in volume and a 3%2% favorable currency impact slightly offset by a 1% decrease in local price and product mix.impact. The increase in sales volume was due to continued demand strength from AI driven technology ramps and new businesscontent and share gains in advanced packaging, AI PCB and thermal management. The favorable currency impact was primarily driven by the euro.
Adjusted Operating EBITDA was $169$197 million for the three months ended MarchJune 31,30, 2026, up 48%44% as compared to $114$137 million for the three months ended MarchJune 31,30, 2025, primarily due to an increase in sales volume, favorable mix and productivity gains.gains, partially offset by increased costs of raw materials inputs and select growth investments in SG&A and R&D.
Interconnect Solutions net sales were $1,278 million for the six months ended June 30, 2026, up 28% from $1,000 million for the six months ended June 30, 2025. Net sales increased primarily due to a 26% increase in volume and a 2% favorable currency impact. The increase in sales volume was due to continued demand strength from AI driven technology ramps and new content and share gains in advanced packaging, AI PCB and thermal management. The favorable currency impact was primarily driven by the euro.
Adjusted Operating EBITDA was $366 million for the six months ended June 30, 2026, up 46% as compared to $251 million for the six months ended June 30, 2025, primarily due to an increase in sales volume, favorable mix and productivity gains.
Information related to the Company's liquidity and capital resources can be found in the Annual Report, Part II, Item 7. "Management's Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources.” Discussion below provides updates to this information for the threesix months ended MarchJune 31,30, 2026.
Our cash and cash equivalents at MarchJune 31,30, 2026 and December 31, 2025 were $857$961 million and $915 million, respectively. Cash and cash equivalents held by subsidiaries in foreign countries were $703$662 million and $640 million as of MarchJune 31,30, 2026 and December 31, 2025, respectively. For each of its foreign subsidiaries, we make an assertion regarding the amount of earnings intended for permanent reinvestment, with the balance available to be repatriated to the United States. We held no investments in marketable securities at March 31, 2026 and December 31, 2025. Refer to subsequent paragraphs for drivers of the change in cash and cash equivalents.
In the first threesix months of 2026, cash provided by operating activities was $135$376 million, compared with $207$480 million in the same period last year. The decrease in cash provided by operating activities is primarily related to payments of interest on our long-term debt, which was not outstanding as of MarchJune 31,30, 2025.2025, and an increase in net cash used for working capital. Changes in working capital were primarily driven by higher trade receivables due to increased sales and higher inventory based on business activity, net of increased accounts payable due to increased production and inventory builds to support sales growth.
In the first threesix months of 2026, cash used for investing activities was $123$205 million, compared with $104$153 million in the first threesix months of 2025. The increase in cash used for investing activities in 2026 is primarily attributable to higher capital expenditures.
In the first threesix months of 2026, cash used for financing activities was $59$109 million compared with $109$330 million in the same period last year. Cash used for financing activities decreased primarily attributabledue to the absence of net transfers to Parent compared to the prior period, partially offset by current period purchases of common stock andstock, payment of dividends.dividends, and repayments on long-term debt.
In the normal course of business, we enter into contracts and commitments that oblige us to make payments in the future. Information regarding our obligations under lease, debt, commitments and pensions and is provided in Note 6, Note 12, Note 13 and Note 15, respectively, in the interim unaudited Consolidated Financial Statements for the three and six months ended MarchJune 31,30, 2026 and 2025 of this Quarterly Report. We expect the generation of cash from operations and the ability to access the debt capital markets and other sources of liquidity will continue to provide sufficient liquidity and financial flexibility to meet our obligations, and those of our subsidiaries, as they come due.
Total debt at MarchJune 31,30, 2026 and December 31, 2025 was $4,023$4,020 million and $4,027 million, respectively. As of MarchJune 31,30, 2026, we were in compliance with all applicable covenants included in the terms of our debt arrangements.
As of MarchJune 31,30, 2026, we are contractually obligated to make future cash payments of $4.1 billion and $1.6$1.5 billion associated with principal and interest, respectively, on debt obligations. Related to the principal, $23 million will be due in the next twelve months and the remainder will be due subsequent to MarchJune 2027. We may address the principal payment with cash on hand, utilizing existing credit facilities, accessing the debt capital markets or a combination of any of them. Related to interest, $241$236 million will be due in the next twelve months and the remainder will be due subsequent to MarchJune 2027.
On April 15, 2026, the Companywe announced that itsthe Board of Directors declared a quarterly dividend of $0.08 per shareshare, payablewhich was paid on June 15, 2026, to our stockholders of record on May 29, 2026.
On June 24, 2026, we announced that the Board of Directors declared a quarterly dividend of $0.08 per share payable on September 15, 2026, to our stockholders of record on August 31, 2026.
Q insider buying and selling (Form 4)
Since 2026-04-11, insiders reported open-market purchases in 1 Form 4 filing (1 insider, 1 trade date, 1,000 shares, about $138.1K) and open-market sales in 2 filings (1 insider, 2 trade dates, 911 shares, about $142.1K). Net open-market shares: 89 (purchases minus sales); net value about -$4.0K.Totals add up every open-market (code P and S) line in those filings, using the prices reported in the filings. Awards, option exercises, tax withholding and gifts are listed below but not counted.
| Trade date | Insider | Transaction | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-08-31 | Curtin Terrence R |
Grant/award | 272 | $119.43 | $32.5K |
| 2026-08-31 | Green Byron |
Grant/award | 272 | $119.43 | $32.5K |
| 2026-08-11 | De Bondt Karin |
Open-market purchase | 1,000 | $138.14 | $138.1K |
| 2026-08-05 | Dei Cas Katherine |
Grant/award | 2,937 | — | — |
| 2026-06-12 | Fortebuono Kathleen M. |
Shares withheld for tax | 418 | $149.76 | $62.6K |
| 2026-06-05 | Sterin Steven |
Open-market sale | 400 | $148.35 | $59.3K |
| 2026-05-29 | Green Byron |
Grant/award | 208 | $156.00 | $32.5K |
| 2026-05-29 | Curtin Terrence R |
Grant/award | 208 | $156.00 | $32.5K |
| 2026-05-26 | Sterin Steven |
Open-market sale | 511 | $161.97 | $82.8K |
| 2026-05-21 | Sterin Steven |
Grant/award | 1,278 | — | — |
| 2026-05-21 | Paik Yi Hyon |
Grant/award | 1,278 | — | — |
| 2026-05-21 | Noonan Anne P |
Grant/award | 1,278 | — | — |
| 2026-05-21 | Johnson Kristina M |
Grant/award | 1,278 | — | — |
| 2026-05-21 | Green Byron |
Grant/award | 1,278 | — | — |
| 2026-05-21 | De Bondt Karin |
Grant/award | 1,278 | — | — |
| 2026-05-21 | Curtin Terrence R |
Grant/award | 1,278 | — | — |
| 2026-05-21 | Blinn Mark A |
Grant/award | 1,278 | — | — |
| 2026-05-21 | Banerji Shumeet |
Grant/award | 1,278 | — | — |
| 2026-05-04 | Hennessey Peter W |
Shares withheld for tax | 73 | $141.76 | $10.4K |
| 2026-05-04 | Goss Michael G. |
Shares withheld for tax | 147 | $141.76 | $20.8K |
| 2026-05-04 | Fortebuono Kathleen M. |
Shares withheld for tax | 101 | $141.76 | $14.4K |
| 2026-05-04 | Kemp Jon D. |
Shares withheld for tax | 843 | $141.76 | $119.5K |
| 2026-05-04 | Xu Chuck |
Shares withheld for tax | 98 | $141.76 | $13.9K |
Well-known investors holding Q (13F)
| Investor | Quarter | Shares | Reported value | % of their 13F | Change vs prior quarter |
|---|---|---|---|---|---|
| Durable Capital Partners (Henry Ellenbogen) | 2026-06-30 | 4,553,414 | $743.6M | 7.23% | Reduced 11% |
| Two Sigma Investments | 2026-06-30 | 1,731,805 | $282.8M | 0.21% | Added 21% |
| Millennium Management (Israel Englander) | 2026-06-30 | 934,087 | $152.5M | 0.1% | Added 17% |
| PRIMECAP Management | 2026-06-30 | 906,109 | $148.0M | 0.09% | Reduced 7% |
| D1 Capital Partners (Dan Sundheim) | 2026-06-30 | 833,996 | $136.2M | 0.39% | New position |
| Citadel Advisors (Ken Griffin) | 2026-06-30 | 613,148 | $100.1M | 0.06% | Added 235% |
| Point72 Asset Management (Steve Cohen) | 2026-06-30 | 334,145 | $54.6M | 0.08% | Reduced 38% |
| AQR Capital Management (Cliff Asness) | 2026-06-30 | 235,386 | $38.3M | 0.01% | Reduced 4% |
| Gotham Asset Management (Joel Greenblatt) | 2026-06-30 | 222,505 | $36.3M | 0.08% | Added 4% |
| D. E. Shaw & Co. | 2026-06-30 | 161,198 | $26.3M | 0.02% | Reduced 83% |
| Renaissance Technologies | 2026-06-30 | 130,900 | $21.4M | 0.03% | Reduced 31% |
| Bridgewater Associates | 2026-06-30 | 11,219 | $1.8M | 0.01% | Added 1% |
| Dodge & Cox | 2026-06-30 | 6,369 | $1.0M | 0.0% | Reduced 5% |
| Duquesne Family Office (Stanley Druckenmiller) | 2026-06-30 | 125,655 | $20.5K | 0.47% | No change |