Tearsheet

Ategrity Specialty Insurance (ASIC)


Market Price (7/9/2026): $24.18 | Market Cap: $1.2 BilSector: Financials | Industry: Property & Casualty Insurance

Ategrity Specialty Insurance (ASIC)


Market Price (7/9/2026): $24.18
Market Cap: $1.2 Bil
Sector: Financials
Industry: Property & Casualty Insurance

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.8%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.6%, FCF Yield is 14%

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -24%

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 34%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 36%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 36%

Low stock price volatility
Vol 12M is 48%

Megatrend and thematic drivers
Megatrends include Cybersecurity, Advanced Aviation & Space, and Renewable Energy Transition. Themes include Cyber Insurance, Show more.

Trading close to highs
Dist 52W High is -4.6%, Dist 3Y High is -4.6%

Key risks
ASIC key risks include [1] underwriting volatility from its historical property catastrophe business and [2] execution risk in its strategic pivot to a more stable business mix.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.8%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.6%, FCF Yield is 14%
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -24%
2 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 34%
3 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 36%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 36%
4 Low stock price volatility
Vol 12M is 48%
5 Megatrend and thematic drivers
Megatrends include Cybersecurity, Advanced Aviation & Space, and Renewable Energy Transition. Themes include Cyber Insurance, Show more.
6 Trading close to highs
Dist 52W High is -4.6%, Dist 3Y High is -4.6%
7 Key risks
ASIC key risks include [1] underwriting volatility from its historical property catastrophe business and [2] execution risk in its strategic pivot to a more stable business mix.

ASIC in ETFs

Weight = ASIC's share of each fund

VTI0.00%
IWM0.01%
IWN0.02%
VTWO0.01%
SCHA0.00%
AVUV0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

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Updated on 7/8/2026

Ategrity Specialty Insurance (ASIC) stock has gained about 25% since 3/31/2026 because of the following key factors:

1. Exceptional Fiscal Q1 2026 Financial Results Exceeded Expectations.

Ategrity Specialty Insurance reported robust financial performance for fiscal Q1 2026 (ended March 31, 2026), significantly surpassing prior-year figures and analyst expectations. Net income attributable to stockholders surged 201% year-over-year to $25.5 million, or $0.51 per diluted share, compared to $8.5 million ($0.20 per diluted share) in fiscal Q1 2025. This was driven by a 23.1% increase in gross written premiums, reaching $142.9 million. Furthermore, the combined ratio improved to 87.4% from 90.9% in the prior-year period, demonstrating enhanced underwriting profitability.

2. Strong Analyst Sentiment and Favorable Price Targets.

Analysts maintained a positive outlook on Ategrity Specialty Insurance during the period, with a consensus rating of "Moderate Buy" or "Buy". Out of six analysts, three issued a hold rating and three issued a buy rating. The average price target for ASIC stood at $27.00, representing a forecasted upside of 6.99% from a recent price of $25.24. Another analysis indicated an average price target of $26.60, suggesting a potential upside of 24.18% from a recent closing price of $21.42.

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Updated on 7/8/2026

Ategrity Specialty Insurance (ASIC) stock has gained about 25% since 3/31/2026 because of the following key factors:

1. Exceptional Fiscal Q1 2026 Financial Results Exceeded Expectations.

Ategrity Specialty Insurance reported robust financial performance for fiscal Q1 2026 (ended March 31, 2026), significantly surpassing prior-year figures and analyst expectations. Net income attributable to stockholders surged 201% year-over-year to $25.5 million, or $0.51 per diluted share, compared to $8.5 million ($0.20 per diluted share) in fiscal Q1 2025. This was driven by a 23.1% increase in gross written premiums, reaching $142.9 million. Furthermore, the combined ratio improved to 87.4% from 90.9% in the prior-year period, demonstrating enhanced underwriting profitability.

2. Strong Analyst Sentiment and Favorable Price Targets.

Analysts maintained a positive outlook on Ategrity Specialty Insurance during the period, with a consensus rating of "Moderate Buy" or "Buy". Out of six analysts, three issued a hold rating and three issued a buy rating. The average price target for ASIC stood at $27.00, representing a forecasted upside of 6.99% from a recent price of $25.24. Another analysis indicated an average price target of $26.60, suggesting a potential upside of 24.18% from a recent closing price of $21.42.

3. Favorable Broader Specialty Insurance Market Conditions.

The global specialty insurance market is experiencing significant growth, with projections indicating an increase from $126.15 billion in 2026 to $337.89 billion by 2034, at a Compound Annual Growth Rate (CAGR) of 13.10%. This growth is driven by increasing demand for niche coverages such as cyber and environmental liability, rising adoption of data-driven underwriting, and expansion into emerging markets. While certain segments of the excess and surplus (E&S) casualty market face ongoing challenges, overall market competition has increased, supported by higher carrier growth goals and positive combined ratio performance, leading to tempered premium and rate increases.

4. Share Repurchase Program Authorization.

In February 2026, prior to the specified period but impacting sentiment and valuation during it, Ategrity Specialty Insurance's Board authorized a $50 million share repurchase program. Such programs typically signal management's confidence in the company's intrinsic value and can contribute to a reduction in the number of outstanding shares, potentially enhancing earnings per share.

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Stock Movement Drivers

Fundamental Drivers

The 22.6% change in ASIC stock from 3/31/2026 to 7/8/2026 was primarily driven by a 11.0% change in the company's Net Income Margin (%).
(LTM values as of)33120267082026Change
Stock Price ($)19.7724.2422.6%
Change Contribution By: 
Total Revenues ($ Mil)42447010.8%
Net Income Margin (%)17.4%19.4%11.0%
P/E Multiple12.912.8-0.4%
Shares Outstanding (Mil)48480.1%
Cumulative Contribution22.6%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 7/8/2026
ReturnCorrelation
ASIC22.6% 
Market (SPY)14.6%-10.4%
Sector (XLF)11.3%32.7%

Fundamental Drivers

The 15.4% change in ASIC stock from 12/31/2025 to 7/8/2026 was primarily driven by a 0.0% change in the company's P/E Multiple.
(LTM values as of)123120257082026Change
Stock Price ($)21.0124.2415.4%
Change Contribution By: 
Total Revenues ($ Mil)4700.0%
Net Income Margin (%)19.4%0.0%
P/E Multiple12.80.0%
Shares Outstanding (Mil)4748-2.3%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 7/8/2026
ReturnCorrelation
ASIC15.4% 
Market (SPY)9.6%4.7%
Sector (XLF)0.9%24.7%

Fundamental Drivers

The 12.6% change in ASIC stock from 6/30/2025 to 7/8/2026 was primarily driven by a 0.0% change in the company's P/E Multiple.
(LTM values as of)63020257082026Change
Stock Price ($)21.5224.2412.6%
Change Contribution By: 
Total Revenues ($ Mil)4700.0%
Net Income Margin (%)19.4%0.0%
P/E Multiple12.80.0%
Shares Outstanding (Mil)4748-2.3%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2025 to 7/8/2026
ReturnCorrelation
ASIC12.6% 
Market (SPY)21.7%2.9%
Sector (XLF)6.2%22.6%

Fundamental Drivers

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Market Drivers

6/30/2023 to 7/8/2026
ReturnCorrelation
ASIC2423900.0% 
Market (SPY)74.1%2.4%
Sector (XLF)70.4%21.0%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
ASIC Return0%0%0%0%2100900%18%2477900%
Peers Return28%13%10%38%-1%-5%107%
S&P 500 Return27%-19%24%23%16%10%100%

Monthly Win Rates [3]
ASIC Win Rate0%0%0%0%25%57% 
Peers Win Rate67%54%48%62%52%54% 
S&P 500 Win Rate75%42%67%75%67%57% 

Max Drawdowns [4]
ASIC Max Drawdown0%0%0%0%-34%-21% 
Peers Max Drawdown-17%-24%-22%-19%-28%-26% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: KNSL, WRB, RYAN, MKL, BOW.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/8/2026 (YTD)

How Low Can It Go

EventASICS&P 500
2008-2009 Global Financial Crisis
  % Loss-99.9%-53.4%
  % Gain to Breakeven69900.0%114.4%
  Time to Breakeven6148 days1085 days

Compare to KNSL, WRB, RYAN, MKL, BOW

In The Past

Ategrity Specialty Insurance's stock fell -4.1% during the 2025 US Tariff Shock. Such a loss loss requires a 4.3% gain to breakeven.

Preserve Wealth

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Asset Allocation

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EventASICS&P 500
2008-2009 Global Financial Crisis
  % Loss-99.9%-53.4%
  % Gain to Breakeven69900.0%114.4%
  Time to Breakeven6148 days1085 days

Compare to KNSL, WRB, RYAN, MKL, BOW

In The Past

Ategrity Specialty Insurance's stock fell -4.1% during the 2025 US Tariff Shock. Such a loss loss requires a 4.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Ategrity Specialty Insurance (ASIC)

Ategrity Specialty Insurance (ASIC) is a specialty insurance company focused on providing Excess and Surplus (E&S) insurance products to small to medium-sized businesses (SMBs) throughout the United States. The company differentiates itself through a proprietary, technology-driven approach called "productionized underwriting." This method combines sophisticated data analytics with automated and streamlined processes to efficiently serve its clients and distribution partners.

ASIC's productionized underwriting platform is designed to transform the E&S market by addressing common inefficiencies such as slow response times and inconsistent underwriting capacity from traditional carriers. By standardizing, simplifying, and automating key tasks like submission intake, risk classification, and pricing, ASIC offers rapid, high-quality interactions. This allows the company to deliver tailored insurance products and services efficiently to its growing network of over 500 distribution partners, particularly those who are digital-native and expect frictionless transactions.

This innovative approach has contributed to significant growth and strong financial performance. For the three months ended March 31, 2025, ASIC reported a 42.3% increase in gross written premiums year-over-year, alongside a favorable combined ratio of 90.9%. The company also achieved a 12.6% return on members' equity for the twelve months ended March 31, 2025. ASIC anticipates its scalable, technology-driven underwriting capabilities will continue to drive enhanced profitability and market expansion.

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Here are 1-3 brief analogies for Ategrity Specialty Insurance (ASIC):

  • Lemonade for SMB commercial insurance
  • Carvana for commercial insurance underwriting

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  • Excess and Surplus (E&S) Insurance Products: Specialized insurance policies offered to small to medium-sized businesses that address unique, unusual, or higher-risk exposures not typically covered by standard admitted insurance carriers.

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Ategrity Specialty Insurance (ASIC) primarily sells its excess and surplus (E&S) products to other companies. The company operates within a two-tiered customer structure, serving distribution partners who, in turn, provide insurance to small to medium-sized businesses. The provided description does not name specific customer companies or their symbols, but describes them by category:
  • Distribution Partners: These are the direct customers of ASIC, consisting of agents and brokers who facilitate the sale of insurance products. The company emphasizes serving "digital-native and tech-savvy distribution partners" who seek rapid and frictionless insurance transactions. ASIC reported a network of 512 such partners as of March 31, 2025.
  • Small to Medium-sized Businesses (SMBs): These are the "end-clients" or "insurance policyholders" for whom ASIC's E&S products are ultimately designed. ASIC focuses on providing these products to SMBs across the United States, targeting specific industry verticals where it possesses deep expertise.

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Justin Cohen, Chief Executive Officer
Mr. Cohen has served as Ategrity's Chief Executive Officer since January 2023, and as a director since December 2021. With over 25 years of experience in the insurance and financial services sectors, he previously served as the company's Deputy Chief Executive Officer. His career began at Donaldson, Lufkin & Jenrette as an investment banker focused on the insurance industry, specializing in mergers & acquisitions, public offerings, merchant banking, and insurance-linked securities. Mr. Cohen worked at Capital Z Partners and later joined Eton Park Capital Management, L.P., where he founded and operated Epoch Re, a reinsurer. He founded Roundfield Financial, an investment management firm dedicated to the insurance and financial services sectors, serving as CEO with backing from Steinhardt Management, indicating a pattern of managing companies backed by private equity firms. He also led the sale of Carrick Specialty Holdings LLC in December 2023.

Neelam Patel, Chief Financial Officer and Principal Accounting Officer
Ms. Patel has served as Ategrity's Chief Financial Officer since September 2024. She brings over 20 years of experience in financial leadership within the insurance industry. Prior to joining Ategrity, Ms. Patel was the Chief Financial Officer of Berkley One at W.R. Berkley for five years, where she contributed to significant growth and operational success. She also spent 18 years at Chubb Ltd., holding various finance leadership positions across multiple divisions. Her expertise encompasses budgeting, forecasting, and financial reporting.

Chris Schenk, President & Chief Underwriting Officer
Mr. Schenk was promoted to President in September 2024 and continues in his role as Chief Underwriting Officer, a position he has held since December 2021. He has over 20 years of experience spanning public policy and insurance. Before joining Ategrity, Mr. Schenk was the Head of Data and Analytics at Munich Re Specialty Insurance, where he led a team in developing strategic and go-to-market capabilities for the launch of a new E&S insurance division. He also held underwriting leadership roles at Hiscox for five years.

Hilary Young, Senior Vice President, Claims

Ken Terrell, Vice President Information Technology

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Key Risks for Ategrity Specialty Insurance (ASIC)

1. Dependence on Proprietary Technology and Data Analytics

Ategrity Specialty Insurance's core competitive advantage and business model are entirely predicated on its proprietary "productionized underwriting" platform, sophisticated data analytics, and quantitative risk models. The company explicitly states that its "competitive edge lies in our ability to offer consistent, high-speed, and low-touch interactions" stemming from its "technology-driven method." A significant risk exists if this technology platform experiences failures, security breaches, or if the underlying data analytics and risk models prove to be inaccurate or ineffective in consistently assessing and pricing risk, particularly across diverse industry and geographical micro-segments. Such issues could lead to substantial underwriting losses, erode distribution partner trust, and undermine the company's ability to maintain its efficiency and growth.

2. Intense Competition and Market Disruption

Ategrity aims to disrupt the excess and surplus (E&S) market for small to medium-sized businesses (SMBs) by addressing what it identifies as an "under-served and inefficient marketplace" hindered by "antiquated processes of legacy insurance carriers." While this presents an opportunity, it also highlights the risk of intense competition. Other existing insurers could invest in and develop similar technology-driven underwriting platforms, or new entrants could emerge with superior or more advanced solutions. If competitors successfully replicate Ategrity's technological advantages, or if market dynamics shift unexpectedly, the company's ability to maintain its competitive edge, attract and retain distribution partners, and achieve premium growth could be significantly challenged.

3. Underwriting and Catastrophe Risk

Despite its advanced "productionized underwriting" platform and "active approach to risk management," Ategrity Specialty Insurance remains an insurance company inherently exposed to underwriting risk. The potential for mispricing policies, inaccurate risk assessment, or unforeseen catastrophic events could lead to significant claims and financial losses. While the company mentions "robust reinsurance protection," reliance on reinsurance is not an elimination of risk but a transfer, and could be subject to availability, cost fluctuations, or counterparty risk. Large, unexpected claim events, especially those that exceed reinsurance limits or are poorly modeled by their analytics, could negatively impact profitability and members' equity.

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Ategrity Specialty Insurance (ASIC) operates within two key addressable markets in the United States: the Excess & Surplus (E&S) insurance market and the broader Small to Medium-sized Business (SMB) insurance market. The U.S. Excess & Surplus (E&S) insurance market reached approximately $130 billion to $131 billion in direct premiums written in 2024. This market is projected to grow further, with premium volume estimated to be between $140 billion and $145 billion in 2025. The U.S. Small to Medium-sized Business (SMB) insurance market was valued at approximately $100.1 billion in 2024. Another estimate places the SMB commercial opportunities for insurers in the U.S. at around $110 billion. This market is anticipated to reach approximately $158.5 billion by 2034. Ategrity Specialty Insurance provides E&S products specifically to SMBs across the United States, operating at the intersection of these two significant markets.

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Ategrity Specialty Insurance (ASIC) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

  1. Expansion of the Distribution Partner Network: The company's strong value proposition has already contributed to a growing network of distribution partners, reaching 512 as of March 31, 2025. Continued growth in this network is anticipated to provide increased transaction opportunities and diversified sources of business, directly leading to higher gross written premiums.
  2. Scaling of Productionized Underwriting Capabilities: Ategrity believes its proprietary productionized underwriting capabilities will continue to drive enhanced profitability as the business scales. This technology-driven approach, which standardizes, simplifies, and automates key underwriting tasks, allows for efficient processing of large volumes of small-sized policies. By scaling this platform, ASIC can handle more transactions, expand its market share in the E&S segment for SMBs, and attract digital-native distribution partners seeking rapid, frictionless insurance transactions.
  3. Strategic Penetration of Targeted Industry Verticals and Geographical Micro-segments: The company employs sophisticated data analytics to intensely study industry and geographical micro-segments where its end-clients operate. By leveraging these insights to build quantitative risk models, ASIC can shape its risk appetite and client targeting. This focused approach enables the company to expand effectively within specific, profitable niches, ensuring sustained and strategic revenue growth.

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Capital Expenditures

  • The primary focus of capital expenditures is on the development and enhancement of the company's proprietary underwriting platform, which integrates sophisticated data analytics with automated and streamlined processes to efficiently serve clients.
  • Significant investment is directed towards technology-driven methods for standardizing, simplifying, and automating transaction processes, including submission intake, risk classification, pricing, and documentation.
  • These expenditures underpin the company's "productionized underwriting" approach, which leverages advanced technology for a highly efficient and centralized operating platform.

Latest Trefis Analyses

Title
0ARTICLES

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

ASICKNSLWRBRYANMKLBOWMedian
NameAtegrity.Kinsale .WR Berkl.Ryan Spe.Markel Bowhead . 
Mkt Price24.24345.9671.2841.291,957.0931.7256.28
Mkt Cap1.27.928.05.324.71.06.6
Rev LTM4701,91714,8193,15615,8845842,537
Op Inc LTM-------
FCF LTM1671,0143,3535552,188344784
FCF 3Y Avg-9473,3654912,381293947
CFO LTM1681,0633,5076192,401349841
CFO 3Y Avg-9773,4715432,625297977

Growth & Margins

ASICKNSLWRBRYANMKLBOWMedian
NameAtegrity.Kinsale .WR Berkl.Ryan Spe.Markel Bowhead . 
Rev Chg LTM34.5%17.0%6.2%18.9%2.1%27.7%18.0%
Rev Chg 3Y Avg-28.4%9.9%20.7%8.5%-15.3%
Rev Chg Q55.2%10.2%5.1%15.2%-13.5%26.8%12.7%
QoQ Delta Rev Chg LTM10.8%2.3%1.2%3.4%-2.7%6.0%2.9%
Op Inc Chg LTM-------
Op Inc Chg 3Y Avg-------
Op Mgn LTM-------
Op Mgn 3Y Avg-------
QoQ Delta Op Mgn LTM-------
CFO/Rev LTM35.8%55.4%23.7%19.6%15.1%59.8%29.7%
CFO/Rev 3Y Avg-60.5%25.3%20.7%16.3%67.5%25.3%
FCF/Rev LTM35.6%52.9%22.6%17.6%13.8%58.8%29.1%
FCF/Rev 3Y Avg-58.8%24.5%18.7%14.8%66.5%24.5%

Valuation

ASICKNSLWRBRYANMKLBOWMedian
NameAtegrity.Kinsale .WR Berkl.Ryan Spe.Markel Bowhead . 
Mkt Cap1.27.928.05.324.71.06.6
P/S2.54.11.91.71.61.81.8
P/Op Inc-------
P/EBIT9.711.811.310.59.813.310.9
P/E12.815.114.949.113.917.815.0
P/CFO6.97.58.08.610.33.07.7
Total Yield7.8%6.9%9.2%3.2%7.2%5.6%7.0%
Dividend Yield0.0%0.2%2.5%1.2%0.0%0.0%0.1%
FCF Yield 3Y Avg-9.5%13.0%8.3%10.7%-10.1%
D/E0.00.00.10.70.20.10.1
Net D/E-0.2-0.3-0.90.7-0.3-0.7-0.3

Returns

ASICKNSLWRBRYANMKLBOWMedian
NameAtegrity.Kinsale .WR Berkl.Ryan Spe.Markel Bowhead . 
1M Rtn20.7%15.7%7.7%30.5%9.0%23.8%18.2%
3M Rtn15.7%-2.9%7.0%18.8%0.2%32.7%11.3%
6M Rtn27.6%-13.0%5.1%-17.3%-8.8%24.6%-1.8%
12M Rtn12.7%-28.5%4.1%-36.7%-2.0%-9.1%-5.6%
3Y Rtn2,423,900.0%-5.4%94.5%-6.0%42.0%33.3%37.7%
1M Excs Rtn17.8%11.7%3.5%25.5%6.3%21.8%14.8%
3M Excs Rtn7.2%-12.8%-5.2%10.2%-10.4%24.8%1.0%
6M Excs Rtn10.6%-21.1%-6.6%-29.8%-17.3%5.0%-11.9%
12M Excs Rtn-8.4%-47.0%-16.6%-57.2%-21.6%-29.0%-25.3%
3Y Excs Rtn2,423,831.9%-75.2%27.3%-73.7%-26.6%-34.9%-30.8%

Comparison Analyses

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Financials

Price Behavior

Price Behavior
Market Price$24.24 
Market Cap ($ Bil)1.2 
First Trading Date06/11/2025 
Distance from 52W High-4.6% 
   50 Days200 Days
DMA Price$21.66$22.28
DMA Trendindeterminateup
Distance from DMA11.9%8.8%
 3M1YR
Volatility39.5%48.3%
Downside Capture-146.9610.40
Upside Capture-30.5922.17
Correlation (SPY)-10.1%3.8%
ASIC Betas & Captures as of 6/30/2026

 1M2M3M6M1Y3Y
Beta-0.70-0.60-0.210.200.11-1289.99
Up Beta0.971.341.010.980.890.13
Down Beta-0.35-0.86-1.13-0.30-0.645600.61
Up Capture-2%-5%3%17%10%1%
Bmk +ve Days11244067140429
Stock +ve Days12233458122126
Down Capture-256%-237%-164%-7%11%-2504212%
Bmk -ve Days10172358112321
Stock -ve Days8172865125133

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ASIC
ASIC11.8%48.2%0.38-
Sector ETF (XLF)5.6%14.8%0.1623.4%
Equity (SPY)21.2%12.5%1.263.8%
Gold (GLD)21.9%27.8%0.700.0%
Commodities (DBC)25.0%18.7%1.06-15.7%
Real Estate (VNQ)12.7%13.9%0.6220.8%
Bitcoin (BTCUSD)-41.4%42.8%-1.13-1.4%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ASIC
ASIC-1.3%48.1%0.02-
Sector ETF (XLF)10.3%18.6%0.4321.8%
Equity (SPY)13.2%17.1%0.603.1%
Gold (GLD)17.8%18.3%0.79-1.3%
Commodities (DBC)7.8%19.5%0.30-16.0%
Real Estate (VNQ)2.8%18.9%0.0520.1%
Bitcoin (BTCUSD)12.1%53.5%0.41-1.6%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ASIC
ASIC-0.6%48.1%0.02-
Sector ETF (XLF)14.2%22.1%0.5921.8%
Equity (SPY)15.9%17.9%0.763.1%
Gold (GLD)11.5%16.1%0.58-1.3%
Commodities (DBC)6.4%18.0%0.28-16.0%
Real Estate (VNQ)5.4%20.7%0.2220.1%
Bitcoin (BTCUSD)58.0%66.2%0.98-1.6%

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Short Interest

Short Interest: As Of Date6152026
Short Interest: Shares Quantity0.3 Mil
Short Interest: % Change Since 53120264.8%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest4.1 days
Basic Shares Quantity48.1 Mil
Short % of Basic Shares0.6%

Earnings Returns History

Updated 6/2/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
4/29/2026-7.4%-4.3%-4.9%
2/19/202623.6%29.6%10.6%
10/22/2025-0.4%2.1%-5.4%
8/14/2025-1.7%0.1%-6.2%
SUMMARY STATS   
# Positive131
# Negative313
Median Positive23.6%2.1%10.6%
Median Negative-1.7%-4.3%-5.4%
Max Positive23.6%29.6%10.6%
Max Negative-7.4%-4.3%-6.2%
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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
4/29/2026-7.4%-4.3%-4.9%
2/19/202623.6%29.6%10.6%
10/22/2025-0.4%2.1%-5.4%
8/14/2025-1.7%0.1%-6.2%
SUMMARY STATS   
# Positive131
# Negative313
Median Positive23.6%2.1%10.6%
Median Negative-1.7%-4.3%-5.4%
Max Positive23.6%29.6%10.6%
Max Negative-7.4%-4.3%-6.2%

SEC Filings

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Report DateFiling DateFiling
03/31/202605/07/202610-Q
12/31/202503/06/202610-K
09/30/202511/12/202510-Q
06/30/202508/14/202510-Q
03/31/202506/11/2025424B4
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Report DateFiling DateFiling
03/31/202605/07/202610-Q
12/31/202503/06/202610-K
09/30/202511/12/202510-Q
06/30/202508/14/202510-Q
03/31/202506/11/2025424B4

Insider Activity

Updated 6/16/2026
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#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Schenk, ChrisSee RemarksDirectBuy505202619.992,50049,97549,975Form
2Cohen, Justin GChief Executive OfficerDirectBuy1028202519.415,200100,938100,938Form
3Zimmer, Stuart JSee FootnoteBuy1001202519.475,00097,326750,156,554Form
4Zimmer, Stuart JSee FootnoteBuy1001202519.376,130118,763746,552,677Form
5Zimmer, Stuart JSee FootnoteBuy929202519.445,741111,633749,161,654Form
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#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Schenk, ChrisSee RemarksDirectBuy505202619.992,50049,97549,975Form
2Cohen, Justin GChief Executive OfficerDirectBuy1028202519.415,200100,938100,938Form
3Zimmer, Stuart JSee FootnoteBuy1001202519.475,00097,326750,156,554Form
4Zimmer, Stuart JSee FootnoteBuy1001202519.376,130118,763746,552,677Form
5Zimmer, Stuart JSee FootnoteBuy929202519.445,741111,633749,161,654Form
6Zimmer, Stuart JSee FootnoteBuy929202519.454,17981,269749,127,064Form
7Zimmer, Stuart JSee FootnoteBuy815202519.495,05198,426750,567,237Form
8Patel, NeelamChief Financial OfficerDirectBuy723202517.0020,000340,000340,000Form
9Mercer, William SDirectBuy616202517.007,300124,100124,100Form
10Sennott, John Langton JRDirectBuy616202517.0029,400499,800499,800Form
11Merton, Robert CDirectBuy616202517.0047,058799,986799,986Form
12Pressman, Mitchell BradDirectBuy616202517.002,50042,5001,636,879Form
Core Cache Last Updated: 7/8/2026