International Business Machines IBM Peer Comparison

NYSE IBM
$243.24 +9.17 (+3.92%)
At close: Sep 11, 2026 · 4:00 PM EDT
Peer Comparison

300 Comparable Companies

Industry Cloud Platforms

International Business Machines Corp (IBM) is the 17th largest of 300 Cloud Platforms companies by market capitalisation, at 229.16 Bn, behind Sandisk Corp at 238.47 Bn. It trades on a P/E of 21.35, 21% above the peer median of 17.69. The table below compares all 300 on 8 financial metrics.

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# Ticker Company match industry_code industry_group industry_group_code Market Capitalization P/E P/S Enterprise Value
1 MSFT Microsoft Corp primary T-43 Cloud Computing TG-07 3,681.04 Bn 28.09 11.09 3,548.29 Bn
2 IBM International Business Machines Corp primary T-43 Cloud Computing TG-07 229.16 Bn 21.35 3.32 217.90 Bn
3 NBIS Nebius Group N.V. primary T-43 Cloud Computing TG-07 56.81 Bn -212.75 41.93 48.77 Bn
4 CRWV CoreWeave, Inc. primary T-43 Cloud Computing TG-07 49.03 Bn -25.43 6.46 43.49 Bn
5 NTNX Nutanix, Inc. primary T-43 Cloud Computing TG-07 17.82 Bn 68.84 6.48 15.80 Bn
6 DOCN DigitalOcean Holdings, Inc. primary T-43 Cloud Computing TG-07 12.89 Bn 54.61 12.75 12.13 Bn
7 KC Kingsoft Cloud Holdings Ltd primary T-43 Cloud Computing TG-07 2.97 Bn -31.77 1.87 2.28 Bn
8 SHAZ SharonAI Holdings Inc. primary T-43 Cloud Computing TG-07 2.13 Bn -2.45 726.60 0.26 Bn
9 TUYA Tuya Inc. primary T-43 Cloud Computing TG-07 1.10 Bn 14.30 3.23 0.12 Bn
10 BLZE Backblaze, Inc. primary T-43 Cloud Computing TG-07 0.72 Bn — — 0.66 Bn
11 NVDA Nvidia Corp secondary T-01 Semiconductors TG-01 5,260.79 Bn 27.38 17.36 5,195.56 Bn
12 GOOG Alphabet Inc. secondary T-50 Internet Platforms TG-08 4,076.05 Bn 16.70 9.14 3,647.02 Bn
13 AMZN Amazon Com Inc secondary D-32 Retail DG-10 2,768.86 Bn 12.86 1.99 2,645.87 Bn
14 ORCL Oracle Corp secondary T-19 Business Applications TG-03 454.05 Bn 25.93 6.33 417.40 Bn
15 PLTR Palantir Technologies Inc. secondary T-23 Business Applications TG-03 401.84 Bn 132.42 65.28 392.54 Bn
16 CAT Caterpillar Inc secondary I-05 Machinery IG-02 376.28 Bn 34.75 5.04 369.57 Bn
17 LRCX Lam Research Corp secondary T-03 Semiconductors TG-01 373.16 Bn 51.52 16.06 367.58 Bn
18 DELL Dell Technologies Inc. secondary T-12 Computer Hardware TG-02 362.97 Bn 32.15 2.40 351.40 Bn
19 MUFG Mitsubishi Ufj Financial Group Inc secondary F-02 Banking FG-01 283.40 Bn 17.60 — -100.92 Bn
20 PANW Palo Alto Networks Inc secondary T-38 Infrastructure Software TG-06 269.48 Bn 806.70 23.47 266.41 Bn
21 TOYOF Toyota Motor Corp/ secondary D-01 Automobiles and Components DG-01 263.16 Bn 9.08 0.79 185.17 Bn
22 BABA Alibaba Group Holding Ltd secondary T-51 Internet Platforms TG-08 253.83 Bn 24.09 1.69 218.57 Bn
23 SAP Sap Se secondary T-19 Business Applications TG-03 253.54 Bn 25.91 5.69 232.47 Bn
24 ANET Arista Networks, Inc. secondary T-12 Computer Hardware TG-02 251.55 Bn 62.14 23.86 238.20 Bn
25 SNDK Sandisk Corp secondary T-12 Computer Hardware TG-02 238.47 Bn 21.00 11.78 233.71 Bn
26 CRWD CrowdStrike Holdings, Inc. secondary T-38 Infrastructure Software TG-06 211.69 Bn 2,676.29 39.23 206.71 Bn
27 MRVL Marvell Technology, Inc. secondary T-01 Semiconductors TG-01 207.04 Bn 80.26 21.91 203.10 Bn
28 CRM Salesforce, Inc. secondary T-16 Business Applications TG-03 203.82 Bn 20.99 4.64 192.41 Bn
29 STX Seagate Technology Holdings plc secondary T-12 Computer Hardware TG-02 188.28 Bn 57.10 15.44 186.57 Bn
30 DE Deere & Co secondary I-06 Machinery IG-02 182.34 Bn 40.09 3.80 173.46 Bn
31 BBVA Banco Bilbao Vizcaya Argentaria, S.A. secondary F-02 Banking FG-01 168.64 Bn 13.13 — 177.52 Bn
32 WDC Western Digital Corp secondary T-12 Computer Hardware TG-02 161.43 Bn 16.37 12.50 159.85 Bn
33 HMC Honda Motor Co Ltd secondary D-01 Automobiles and Components DG-01 147.46 Bn 68.24 1.35 109.00 Bn
34 ACN Accenture plc secondary I-26 Business Services IG-06 122.73 Bn 14.18 1.68 113.68 Bn
35 SNOW Snowflake Inc. secondary T-36 Infrastructure Software TG-06 115.99 Bn -105.60 21.34 113.65 Bn
36 SMFG Sumitomo Mitsui Financial Group, Inc. secondary F-02 Banking FG-01 104.38 Bn 9.00 -93.27 105.26 Bn
37 ADBE Adobe Inc. secondary T-25 Workplace Software TG-04 100.64 Bn 14.04 3.99 95.01 Bn
38 VRT Vertiv Holdings Co secondary I-07 Machinery IG-02 98.95 Bn 57.07 8.62 95.84 Bn
39 NET Cloudflare, Inc. secondary T-45 Cloud Computing TG-07 98.76 Bn -526.59 39.31 94.60 Bn
40 GD General Dynamics Corp secondary I-02 Aerospace and Defense IG-01 96.29 Bn 21.43 1.76 91.96 Bn
41 SLB Slb Limited/Nv secondary E-10 Oilfield Services and Equipment EG-04 83.20 Bn 28.42 2.96 80.31 Bn
42 HPE Hewlett Packard Enterprise Co secondary T-12 Computer Hardware TG-02 82.45 Bn 31.01 1.97 76.23 Bn
43 F-PD Ford Motor Co secondary D-01 Automobiles and Components DG-01 81.47 Bn -11.21 0.43 50.17 Bn
44 CDNS Cadence Design Systems Inc secondary T-05 Semiconductors TG-01 79.69 Bn 57.53 13.65 78.25 Bn
45 MSI Motorola Solutions, Inc. secondary I-02 Aerospace and Defense IG-01 77.13 Bn 36.11 6.30 76.43 Bn
46 GM General Motors Co secondary D-01 Automobiles and Components DG-01 75.12 Bn 41.06 0.40 52.04 Bn
47 PCAR Paccar Inc secondary I-05 Machinery IG-02 64.60 Bn 25.83 2.32 55.93 Bn
48 AJG Arthur J. Gallagher & Co. secondary F-16 Insurance FG-04 61.59 Bn 39.17 3.91 60.24 Bn
49 BMNP Bitmine Immersion Technologies, Inc. secondary T-59 Fintech TG-09 57.18 Bn -6.20 934.35 56.84 Bn
50 O Realty Income Corp secondary R-06 Property REITs RG-01 56.31 Bn 43.77 9.30 58.69 Bn
51 PSA Public Storage secondary R-08 Property REITs RG-01 52.08 Bn 28.21 10.65 51.91 Bn
52 ALAB Astera Labs, Inc. secondary T-01 Semiconductors TG-01 50.52 Bn 135.86 42.03 49.27 Bn
53 FITB Fifth Third Bancorp secondary F-01 Banking FG-01 49.61 Bn 18.75 4.88 25.88 Bn
54 CIEN Ciena Corp secondary T-13 Computer Hardware TG-02 49.59 Bn 75.86 8.24 46.96 Bn
55 ROK Rockwell Automation, Inc secondary I-04 Machinery IG-02 47.59 Bn 43.64 5.30 47.11 Bn
56 MSTR Strategy Inc secondary T-23 Business Applications TG-03 46.10 Bn -1.47 92.50 43.65 Bn
57 IX Orix Corp secondary F-06 Lending and Credit FG-02 45.10 Bn 11.17 2.01 45.43 Bn
58 INFY Infosys Ltd secondary T-63 Technology Services TG-11 44.94 Bn 0.30 2.21 44.99 Bn
59 FLEX Flex Ltd. secondary T-14 Computer Hardware TG-02 42.77 Bn 43.55 1.46 39.93 Bn
60 VEEV Veeva Systems Inc secondary T-27 Vertical Software TG-05 42.44 Bn 41.93 12.27 35.19 Bn
61 CLS Celestica Inc secondary T-14 Computer Hardware TG-02 39.86 Bn 39.30 2.56 39.32 Bn
62 NTAP NetApp, Inc. secondary T-12 Computer Hardware TG-02 39.14 Bn 28.83 5.30 35.57 Bn
63 BAP Credicorp Ltd secondary F-02 Banking FG-01 35.71 Bn 3.39 — 36.39 Bn
64 CHT Chunghwa Telecom Co Ltd secondary C-01 Telecommunications CG-01 34.81 Bn 25.99 4.41 32.72 Bn
65 ERIC Ericsson Lm Telephone Co secondary T-13 Computer Hardware TG-02 34.76 Bn 13.15 1.43 29.68 Bn
66 MTB M&T Bank Corp secondary F-01 Banking FG-01 34.64 Bn 12.18 3.48 34.64 Bn
67 HBAN Huntington Bancshares Inc /Md/ secondary F-01 Banking FG-01 34.06 Bn 15.17 3.51 29.58 Bn
68 RPRX Royalty Pharma plc secondary F-06 Lending and Credit FG-02 33.70 Bn 19.32 13.29 35.82 Bn
69 P Everpure, Inc. secondary T-12 Computer Hardware TG-02 32.71 Bn 129.04 7.68 31.71 Bn
70 BIDU Baidu, Inc. secondary T-40 Infrastructure Software TG-06 31.10 Bn -5.86 1.70 8.70 Bn
71 CRDO Credo Technology Group Holding Ltd secondary T-01 Semiconductors TG-01 30.60 Bn 56.31 19.23 29.83 Bn
72 MDB MongoDB, Inc. secondary T-36 Infrastructure Software TG-06 29.18 Bn 495.98 10.49 26.77 Bn
73 CTSH Cognizant Technology Solutions Corp secondary T-63 Technology Services TG-11 27.12 Bn 12.59 1.25 26.07 Bn
74 SMCI Super Micro Computer, Inc. secondary T-12 Computer Hardware TG-02 26.34 Bn 10.81 0.67 18.82 Bn
75 CINF Cincinnati Financial Corp secondary F-13 Insurance FG-04 26.06 Bn 8.06 1.87 24.17 Bn
76 RF Regions Financial Corp secondary F-01 Banking FG-01 25.66 Bn 11.96 3.37 25.73 Bn
77 SYF Synchrony Financial secondary F-04 Lending and Credit FG-02 24.68 Bn 7.33 1.27 8.49 Bn
78 AER AerCap Holdings N.V. secondary I-01 Aerospace and Defense IG-01 23.61 Bn 5.77 2.63 23.61 Bn
79 FFIV F5, Inc. secondary T-38 Infrastructure Software TG-06 23.40 Bn 32.15 7.07 21.79 Bn
80 KEY Keycorp /New/ secondary F-01 Banking FG-01 23.28 Bn 12.39 2.99 -24.41 Bn
81 FCNCA First Citizens Bancshares Inc /De/ secondary F-01 Banking FG-01 22.57 Bn 11.05 82.06 22.04 Bn
82 IOT Samsara Inc. secondary T-32 Vertical Software TG-05 22.46 Bn 247.61 12.16 21.63 Bn
83 SNX Td Synnex Corp secondary T-64 Technology Services TG-11 21.53 Bn 18.85 0.31 20.44 Bn
84 RGLD Royal Gold Inc secondary F-06 Lending and Credit FG-02 21.36 Bn 28.72 13.81 21.23 Bn
85 SNA Snap-on Inc secondary I-08 Machinery IG-02 19.42 Bn 18.35 3.68 17.80 Bn
86 CDW CDW Corp secondary T-64 Technology Services TG-11 19.27 Bn 18.09 0.82 18.91 Bn
87 FTAI FTAI Aviation Ltd. secondary I-01 Aerospace and Defense IG-01 19.09 Bn 39.97 6.13 18.76 Bn
88 VIV Telefonica Brasil S.A. secondary C-01 Telecommunications CG-01 18.93 Bn 15.34 1.62 17.25 Bn
89 TOST Toast, Inc. secondary T-31 Vertical Software TG-05 18.53 Bn 38.19 2.72 16.81 Bn
90 RBRK Rubrik, Inc. secondary T-38 Infrastructure Software TG-06 17.96 Bn -70.20 11.64 16.21 Bn
91 CBSH Commerce Bancshares Inc /Mo/ secondary F-01 Banking FG-01 16.80 Bn 28.44 9.01 16.62 Bn
92 CNH CNH Industrial N.V. secondary I-06 Machinery IG-02 16.80 Bn 64.61 0.92 14.99 Bn
93 LEN Lennar Corp /New/ secondary D-08 Homebuilding DG-03 16.76 Bn 9.59 0.51 14.58 Bn
94 J Jacobs Solutions Inc. secondary I-15 Construction Services IG-04 16.62 Bn 55.57 1.17 15.43 Bn
95 ZTO ZTO Express (Cayman) Inc. secondary I-23 Transportation IG-05 16.28 Bn 11.05 2.08 11.70 Bn
96 KIM Kimco Realty Corp secondary R-03 Property REITs RG-01 15.54 Bn 27.07 7.21 15.70 Bn
97 AKAM Akamai Technologies Inc secondary T-45 Cloud Computing TG-07 15.33 Bn 37.59 3.55 11.98 Bn
98 PNFP Pinnacle Financial Partners, Inc. secondary F-01 Banking FG-01 14.99 Bn 20.30 13.45 7.34 Bn
99 TU Telus Corp secondary C-01 Telecommunications CG-01 14.09 Bn -22.19 0.64 13.57 Bn
100 AIZ Assurant, Inc. secondary F-13 Insurance FG-04 13.95 Bn 13.15 1.04 11.91 Bn
101 TXT Textron Inc secondary I-01 Aerospace and Defense IG-01 13.92 Bn 14.99 0.91 12.49 Bn
102 CHKP Check Point Software Technologies Ltd secondary T-38 Infrastructure Software TG-06 13.90 Bn 13.47 5.03 11.62 Bn
103 GIB Cgi Inc secondary T-63 Technology Services TG-11 13.76 Bn 17.77 1.53 13.18 Bn
104 CACI Caci International Inc /De/ secondary I-02 Aerospace and Defense IG-01 13.72 Bn 25.56 1.43 13.53 Bn
105 ALLY Ally Financial Inc. secondary F-02 Banking FG-01 12.81 Bn 9.76 1.48 4.97 Bn
106 HUT Hut 8 Corp. secondary T-59 Fintech TG-09 12.15 Bn -17.72 38.20 5.67 Bn
107 ARW Arrow Electronics, Inc. secondary T-64 Technology Services TG-11 11.61 Bn 15.09 0.32 11.44 Bn
108 GWRE Guidewire Software, Inc. secondary T-55 Fintech TG-09 11.56 Bn 85.19 7.83 10.80 Bn
109 HUBS Hubspot Inc secondary T-16 Business Applications TG-03 11.19 Bn 77.60 3.24 9.85 Bn
110 HII Huntington Ingalls Industries, Inc. secondary I-02 Aerospace and Defense IG-01 11.02 Bn 16.71 0.84 11.00 Bn
111 FROG JFrog Ltd secondary T-34 Infrastructure Software TG-06 10.73 Bn -197.58 17.88 9.90 Bn
112 JEF Jefferies Financial Group Inc. secondary F-17 Capital Markets FG-05 10.57 Bn 13.71 0.89 -4.84 Bn
113 BPOP Popular, Inc. secondary F-01 Banking FG-01 10.46 Bn 10.81 25.84 10.40 Bn
114 SSB SouthState Bank Corp secondary F-01 Banking FG-01 10.28 Bn 10.86 35.89 7.91 Bn
115 WTFC Wintrust Financial Corp secondary F-01 Banking FG-01 10.27 Bn 12.10 3.58 -61.91 Bn
116 CFR Cullen/Frost Bankers, Inc. secondary F-01 Banking FG-01 10.13 Bn 15.03 77.81 3.62 Bn
117 FCFS FirstCash Holdings, Inc. secondary F-04 Lending and Credit FG-02 9.91 Bn 25.77 2.40 9.73 Bn
118 SNAP Snap Inc secondary T-47 Internet Platforms TG-08 9.80 Bn -30.35 1.54 7.14 Bn
119 AVB Avalonbay Communities Inc secondary R-01 Property REITs RG-01 9.67 Bn 9.28 3.14 9.87 Bn
120 SIMO Silicon Motion Technology CORP secondary T-01 Semiconductors TG-01 9.55 Bn — — 9.37 Bn
121 BSY Bentley Systems Inc secondary T-30 Vertical Software TG-05 9.35 Bn 33.31 5.83 9.20 Bn
122 BAH Booz Allen Hamilton Holding Corp secondary I-26 Business Services IG-06 9.13 Bn 11.70 0.82 8.59 Bn
123 AGCO Agco Corp /De secondary I-06 Machinery IG-02 8.48 Bn 17.85 0.82 8.20 Bn
124 AVT Avnet Inc secondary T-64 Technology Services TG-11 8.18 Bn 24.48 0.30 8.02 Bn
125 LAD Lithia Motors Inc secondary D-37 Retail DG-10 7.88 Bn 11.20 0.21 7.54 Bn
126 IDA Idacorp Inc secondary U-04 Regulated Utilities UG-02 7.84 Bn 22.28 4.35 7.76 Bn
127 DBX Dropbox, Inc. secondary T-24 Workplace Software TG-04 7.81 Bn 18.05 3.09 6.70 Bn
128 GTLB Gitlab Inc. secondary T-34 Infrastructure Software TG-06 7.81 Bn -146.85 7.40 6.60 Bn
129 BZ Kanzhun Ltd secondary T-21 Business Applications TG-03 7.65 Bn 11.11 6.10 5.34 Bn
130 VLY Valley National Bancorp secondary F-01 Banking FG-01 7.63 Bn 11.51 106.05 7.29 Bn
131 FAF First American Financial Corp secondary F-14 Insurance FG-04 7.32 Bn 9.86 0.92 4.23 Bn
132 TEX Terex Corp secondary I-05 Machinery IG-02 6.95 Bn 46.36 1.04 6.54 Bn
133 S SentinelOne, Inc. secondary T-38 Infrastructure Software TG-06 6.83 Bn -19.83 6.22 6.18 Bn
134 OR OR Royalties Inc. secondary F-06 Lending and Credit FG-02 6.74 Bn 17.89 18.58 6.66 Bn
135 DOX Amdocs Ltd secondary T-13 Computer Hardware TG-02 6.66 Bn 14.92 1.43 6.50 Bn
136 INGM Ingram Micro Holding Corp secondary T-64 Technology Services TG-11 6.49 Bn 14.81 0.12 5.68 Bn
137 GATX Gatx Corp secondary I-11 Machinery IG-02 6.30 Bn 27.11 3.07 7.11 Bn
138 PATH UiPath, Inc. secondary T-20 Business Applications TG-03 6.27 Bn 19.73 3.64 4.99 Bn
139 QBTS D-Wave Quantum Inc. secondary T-42 Infrastructure Software TG-06 6.25 Bn -48.31 503.00 6.25 Bn
140 EPAM EPAM Systems, Inc. secondary T-63 Technology Services TG-11 6.08 Bn 15.32 1.08 5.29 Bn
141 DLB Dolby Laboratories, Inc. secondary T-05 Semiconductors TG-01 6.08 Bn 26.66 4.49 5.42 Bn
142 HOMB Home Bancshares Inc secondary F-01 Banking FG-01 6.01 Bn 12.58 129.88 4.96 Bn
143 NTSK Netskope Inc secondary T-38 Infrastructure Software TG-06 6.00 Bn -10.17 7.47 4.93 Bn
144 PEGA Pegasystems Inc secondary T-20 Business Applications TG-03 5.96 Bn 18.52 3.43 5.95 Bn
145 G Genpact LTD secondary I-26 Business Services IG-06 5.90 Bn 10.19 1.12 5.39 Bn
146 STWD Starwood Property Trust, Inc. secondary F-08 Lending and Credit FG-02 5.79 Bn 21.62 2.88 3.98 Bn
147 ASB Associated Banc-Corp secondary F-01 Banking FG-01 5.67 Bn 11.44 111.72 4.72 Bn
148 RUSHA Rush Enterprises Inc \Tx\ secondary I-31 Distribution and Rental IG-07 5.65 Bn 21.15 0.78 5.41 Bn
149 AUB Atlantic Union Bankshares Corp secondary F-01 Banking FG-01 5.64 Bn 11.87 3.66 4.55 Bn
150 ENVA Enova International, Inc. secondary F-04 Lending and Credit FG-02 5.57 Bn 15.66 1.62 5.44 Bn
151 NAVN Navan, Inc. secondary T-18 Business Applications TG-03 5.46 Bn -15.49 6.61 4.64 Bn
152 SAIC Science Applications International Corp secondary T-63 Technology Services TG-11 5.46 Bn 14.49 0.74 5.33 Bn
153 RITM Rithm Capital Corp. secondary F-08 Lending and Credit FG-02 5.45 Bn 16.28 1.08 5.45 Bn
154 CVLT Commvault Systems Inc secondary T-38 Infrastructure Software TG-06 5.39 Bn 78.74 4.43 4.46 Bn
155 EXLS ExlService Holdings, Inc. secondary T-63 Technology Services TG-11 5.35 Bn 21.51 2.39 5.07 Bn
156 ACIW Aci Worldwide, Inc. secondary T-54 Fintech TG-09 5.27 Bn 23.43 2.90 5.11 Bn
157 RGTI Rigetti Computing, Inc. secondary T-42 Infrastructure Software TG-06 5.10 Bn -21.32 381.58 5.10 Bn
158 VEON VEON Ltd. secondary C-01 Telecommunications CG-01 5.02 Bn 3.14 0.89 2.74 Bn
159 SOGP Sound Group Inc. secondary T-47 Internet Platforms TG-08 4.95 Bn -301.32 8.10 4.84 Bn
160 PSN Parsons Corp secondary I-02 Aerospace and Defense IG-01 4.90 Bn 22.81 0.78 4.75 Bn
161 NSIT Insight Enterprises Inc secondary T-64 Technology Services TG-11 4.88 Bn 23.60 0.57 4.52 Bn
162 HASI HA Sustainable Infrastructure Capital, Inc. secondary F-11 Asset and Wealth Management FG-03 4.78 Bn 53.68 10.32 4.64 Bn
163 AMTM Amentum Holdings, Inc. secondary I-02 Aerospace and Defense IG-01 4.75 Bn 23.62 0.34 4.39 Bn
164 MOGU MOGU Inc. secondary T-51 Internet Platforms TG-08 4.61 Bn -143.10 133.87 4.57 Bn
165 SKY Champion Homes, Inc. secondary D-09 Homebuilding DG-03 4.60 Bn — — 3.96 Bn
166 PAY Paymentus Holdings, Inc. secondary T-54 Fintech TG-09 4.59 Bn 54.00 3.37 4.21 Bn
167 MARA MARA Holdings, Inc. secondary T-59 Fintech TG-09 4.58 Bn -1.32 5.69 4.22 Bn
168 OPLN OPENLANE, Inc. secondary T-51 Internet Platforms TG-08 4.34 Bn -47.54 2.09 4.15 Bn
169 RUM RUM Group Inc. secondary T-47 Internet Platforms TG-08 4.24 Bn -14.25 36.17 4.13 Bn
170 UCB United Community Banks Inc secondary F-01 Banking FG-01 4.23 Bn 11.46 3.81 3.68 Bn
171 ITRI Itron, Inc. secondary I-07 Machinery IG-02 4.10 Bn 13.84 1.78 3.37 Bn
172 ABG Asbury Automotive Group Inc secondary D-37 Retail DG-10 3.74 Bn 7.48 0.21 3.70 Bn
173 SKYW Skywest Inc secondary I-18 Transportation IG-05 3.73 Bn 9.25 0.89 3.13 Bn
174 RNST Renasant Corp secondary F-01 Banking FG-01 3.73 Bn 11.90 3.40 2.85 Bn
175 DAO Youdao, Inc. secondary T-28 Vertical Software TG-05 3.53 Bn 69.15 4.09 3.41 Bn
176 FLY Firefly Aerospace Inc. secondary I-03 Aerospace and Defense IG-01 3.51 Bn -9.23 12.24 2.70 Bn
177 LIF Life360, Inc. secondary T-40 Infrastructure Software TG-06 3.47 Bn 23.47 6.05 3.20 Bn
178 NATL NCR Atleos Corp secondary T-54 Fintech TG-09 3.44 Bn 17.38 0.78 2.85 Bn
179 SII Sprott Inc. secondary F-09 Asset and Wealth Management FG-03 3.44 Bn 32.78 8.60 3.25 Bn
180 FFBC First Financial Bancorp /Oh/ secondary F-01 Banking FG-01 3.41 Bn 11.85 3.38 3.41 Bn
181 TENB Tenable Holdings, Inc. secondary T-38 Infrastructure Software TG-06 3.32 Bn 494.58 3.18 3.02 Bn
182 BKU BankUnited, Inc. secondary F-01 Banking FG-01 3.24 Bn 11.89 136.64 2.87 Bn
183 AMPL Amplitude, Inc. secondary T-23 Business Applications TG-03 3.14 Bn -19.07 8.39 2.96 Bn
184 KYIV Kyivstar Group Ltd. secondary C-01 Telecommunications CG-01 3.14 Bn 7.68 2.10 2.78 Bn
185 AMBA Ambarella Inc secondary T-01 Semiconductors TG-01 3.00 Bn -52.81 7.17 2.72 Bn
186 MMS Maximus, Inc. secondary I-26 Business Services IG-06 2.98 Bn 8.11 0.57 2.92 Bn
187 BANC Banc Of California, Inc. secondary F-01 Banking FG-01 2.93 Bn -46.56 3.32 0.12 Bn
188 EXTR Extreme Networks Inc secondary T-13 Computer Hardware TG-02 2.91 Bn 41.26 2.27 2.70 Bn
189 HOG Harley-Davidson, Inc. secondary D-04 Automobiles and Components DG-01 2.90 Bn 14.97 0.68 1.02 Bn
190 COHU Cohu Inc secondary T-03 Semiconductors TG-01 2.87 Bn -36.74 5.50 2.38 Bn
191 KD Kyndryl Holdings, Inc. secondary T-63 Technology Services TG-11 2.86 Bn 20.57 0.19 0.85 Bn
192 BTDR Bitdeer Technologies Group secondary T-59 Fintech TG-09 2.82 Bn -5.26 3.47 2.36 Bn
193 FBNC First Bancorp /Nc/ secondary F-01 Banking FG-01 2.66 Bn 19.87 5.34 2.11 Bn
194 BBT Beacon Financial Corp secondary F-01 Banking FG-01 2.63 Bn 16.43 82.82 1.41 Bn
195 PENG Penguin Solutions, Inc. secondary T-12 Computer Hardware TG-02 2.62 Bn 34.40 1.74 2.38 Bn
196 TDC Teradata Corp /De/ secondary T-36 Infrastructure Software TG-06 2.59 Bn 5.71 1.53 2.18 Bn
197 SOUN Soundhound Ai, Inc. secondary T-40 Infrastructure Software TG-06 2.52 Bn -19.66 12.42 2.32 Bn
198 APPN Appian Corp secondary T-20 Business Applications TG-03 2.50 Bn -238.59 3.14 2.33 Bn
199 UPST Upstart Holdings, Inc. secondary T-56 Fintech TG-09 2.49 Bn 40.96 2.00 2.04 Bn
200 AGM Federal Agricultural Mortgage Corp secondary F-05 Lending and Credit FG-02 2.45 Bn 12.23 5.49 1.41 Bn
201 MBIN Merchants Bancorp secondary F-01 Banking FG-01 2.44 Bn 10.67 3.42 1.60 Bn
202 PLUS Eplus Inc secondary T-64 Technology Services TG-11 2.40 Bn 16.69 0.95 1.95 Bn
203 HURN Huron Consulting Group Inc. secondary I-26 Business Services IG-06 2.39 Bn 21.03 1.70 2.35 Bn
204 PBI Pitney Bowes Inc /De/ secondary I-30 Business Services IG-06 2.34 Bn 15.34 1.68 2.06 Bn
205 EFSC Enterprise Financial Services Corp secondary F-01 Banking FG-01 2.33 Bn 12.53 2.99 1.77 Bn
206 FIVN Five9, Inc. secondary T-26 Workplace Software TG-04 2.29 Bn 38.93 1.90 1.64 Bn
207 LTC Ltc Properties Inc secondary R-07 Property REITs RG-01 2.28 Bn 16.28 6.55 2.35 Bn
208 TRN Trinity Industries Inc secondary I-11 Machinery IG-02 2.27 Bn 6.42 1.11 2.12 Bn
209 DBD DIEBOLD NIXDORF, Inc secondary T-31 Vertical Software TG-05 2.23 Bn 19.23 0.58 1.96 Bn
210 CALX Calix, Inc secondary T-13 Computer Hardware TG-02 2.22 Bn 43.71 2.00 2.02 Bn
211 CNXN Pc Connection Inc secondary T-64 Technology Services TG-11 2.16 Bn 22.57 0.72 1.82 Bn
212 STGW Stagwell Inc secondary C-04 Advertising and Media CG-02 2.10 Bn 118.86 0.69 2.01 Bn
213 VIA Via Transportation, Inc. secondary T-32 Vertical Software TG-05 2.10 Bn -21.29 4.28 1.77 Bn
214 SRCE 1St Source Corp secondary F-01 Banking FG-01 2.10 Bn 12.27 70.80 2.14 Bn
215 ECPG Encore Capital Group Inc secondary F-06 Lending and Credit FG-02 2.09 Bn 7.04 1.10 1.91 Bn
216 TBBK Bancorp, Inc. secondary F-02 Banking FG-01 2.08 Bn 9.43 13.85 2.00 Bn
217 BLKB Blackbaud Inc secondary T-16 Business Applications TG-03 2.07 Bn 13.51 1.80 1.22 Bn
218 BLX Bladex, Inc. secondary F-01 Banking FG-01 2.06 Bn 1.50 5.82 2.05 Bn
219 BRSL Brightstar Lottery PLC secondary T-19 Business Applications TG-03 2.02 Bn 33.32 0.82 2.63 Bn
220 FORTY Formula Systems (1985) Ltd secondary T-63 Technology Services TG-11 1.85 Bn 2.92 0.63 1.43 Bn
221 CMRE Costamare Inc. secondary I-21 Transportation IG-05 1.84 Bn 5.78 2.15 1.55 Bn
222 FLNC Fluence Energy, Inc. secondary I-43 Clean Energy Equipment IG-10 1.83 Bn -13.22 0.70 1.33 Bn
223 INOD Innodata Inc secondary T-63 Technology Services TG-11 1.83 Bn 30.48 5.77 1.58 Bn
224 DXC DXC Technology Co secondary T-63 Technology Services TG-11 1.82 Bn 13.65 0.15 0.09 Bn
225 QUBT Quantum Computing Inc. secondary T-42 Infrastructure Software TG-06 1.81 Bn -119.89 184.09 1.81 Bn
226 SMA SmartStop Self Storage REIT, Inc. secondary R-08 Property REITs RG-01 1.78 Bn 61.58 5.80 1.84 Bn
227 BAND Bandwidth Inc. secondary T-26 Workplace Software TG-04 1.75 Bn 802.82 2.11 1.58 Bn
228 EVTC EVERTEC, Inc. secondary T-54 Fintech TG-09 1.75 Bn 17.47 1.76 1.56 Bn
229 BY Byline Bancorp, Inc. secondary F-01 Banking FG-01 1.75 Bn 11.53 3.77 1.52 Bn
230 CNXC Concentrix Corp secondary I-26 Business Services IG-06 1.72 Bn -1.31 0.17 1.46 Bn
231 RXRX Recursion Pharmaceuticals, Inc. secondary H-02 Pharmaceuticals and Biotechnology HG-01 1.71 Bn -3.28 31.16 1.16 Bn
232 VNET VNET Group, Inc. secondary T-44 Cloud Computing TG-07 1.70 Bn -4.96 1.10 0.82 Bn
233 TRIN Trinity Capital Inc. secondary F-07 Lending and Credit FG-02 1.69 Bn 9.52 5.02 1.66 Bn
234 QCRH Qcr Holdings Inc secondary F-01 Banking FG-01 1.68 Bn 20.25 10.57 0.86 Bn
235 GLOB Globant S.A. secondary T-63 Technology Services TG-11 1.66 Bn 14.74 0.68 1.54 Bn
236 EFC Ellington Financial Inc. secondary F-08 Lending and Credit FG-02 1.65 Bn 11.58 3.61 1.43 Bn
237 OPRA Opera Ltd secondary T-33 Infrastructure Software TG-06 1.64 Bn 12.94 2.40 1.49 Bn
238 CASH Pathward Financial, Inc. secondary F-02 Banking FG-01 1.63 Bn 9.37 10.89 1.48 Bn
239 AI C3.ai, Inc. secondary T-40 Infrastructure Software TG-06 1.63 Bn -3.66 7.02 0.98 Bn
240 SKM Sk Telecom Co Ltd secondary C-01 Telecommunications CG-01 1.61 Bn 6.49 0.54 1.66 Bn
241 TFIN Triumph Financial, Inc. secondary F-01 Banking FG-01 1.57 Bn 44.34 27.58 0.67 Bn
242 BC-PC Brunswick Corp secondary D-04 Automobiles and Components DG-01 1.57 Bn -40.67 0.28 1.26 Bn
243 IIPR Innovative Industrial Properties Inc secondary R-04 Property REITs RG-01 1.55 Bn 12.32 5.88 1.55 Bn
244 CSWC Capital Southwest Corp secondary F-07 Lending and Credit FG-02 1.54 Bn 21.31 6.50 1.48 Bn
245 SIFY Sify Technologies Ltd secondary T-44 Cloud Computing TG-07 1.50 Bn 528.92 3.89 1.50 Bn
246 VISN Vistance Networks, Inc. secondary T-13 Computer Hardware TG-02 1.45 Bn 0.20 6.50 1.33 Bn
247 ATLC Atlanticus Holdings Corp secondary F-06 Lending and Credit FG-02 1.43 Bn 9.89 0.54 0.87 Bn
248 PEBO Peoples Bancorp Inc secondary F-01 Banking FG-01 1.43 Bn -41.16 56.47 1.25 Bn
249 FMC Fmc Corp secondary M-05 Chemicals MG-01 1.43 Bn -0.52 0.44 0.98 Bn
250 TMP Tompkins Financial Corp secondary F-01 Banking FG-01 1.42 Bn 8.11 3.13 1.42 Bn
251 TRTN-PA Triton International Ltd secondary I-11 Machinery IG-02 1.42 Bn -2.77 19.72 1.42 Bn
252 ARLO Arlo Technologies, Inc. secondary T-41 Infrastructure Software TG-06 1.42 Bn 46.80 2.42 1.32 Bn
253 GOLD Gold.com, Inc. secondary D-36 Retail DG-10 1.41 Bn 15.98 0.06 0.57 Bn
254 CNF CNFinance Holdings Ltd. secondary F-05 Lending and Credit FG-02 1.34 Bn -27.01 26.43 1.34 Bn
255 GBX Greenbrier Companies Inc secondary I-11 Machinery IG-02 1.33 Bn 14.78 0.51 1.18 Bn
256 HLIT Harmonic Inc. secondary T-13 Computer Hardware TG-02 1.31 Bn 600.85 3.80 1.08 Bn
257 CXM Sprinklr, Inc. secondary T-16 Business Applications TG-03 1.30 Bn 55.59 1.49 1.07 Bn
258 EFOR Everforth Inc secondary T-63 Technology Services TG-11 1.29 Bn 15.56 0.32 1.14 Bn
259 MGRT Mega Fortune Co Ltd secondary T-63 Technology Services TG-11 1.27 Bn 446.48 114.71 1.27 Bn
260 MSDL Morgan Stanley Direct Lending Fund secondary F-07 Lending and Credit FG-02 1.24 Bn 35.77 3.32 1.16 Bn
261 JCAP Jefferson Capital, Inc. / DE secondary F-06 Lending and Credit FG-02 1.23 Bn 8.14 1.93 1.21 Bn
262 RDWR Radware Ltd secondary T-38 Infrastructure Software TG-06 1.20 Bn 70.59 3.79 1.13 Bn
263 WLFC Willis Lease Finance Corp secondary I-01 Aerospace and Defense IG-01 1.19 Bn 13.79 1.55 1.19 Bn
264 SCSC Scansource, Inc. secondary T-64 Technology Services TG-11 1.17 Bn 15.78 0.36 1.08 Bn
265 YELP Yelp Inc secondary T-47 Internet Platforms TG-08 1.17 Bn 9.31 0.79 1.08 Bn
266 CERT Certara, Inc. secondary T-27 Vertical Software TG-05 1.15 Bn -17.04 2.82 0.97 Bn
267 OCSL Oaktree Specialty Lending Corp secondary F-07 Lending and Credit FG-02 1.12 Bn 20.60 2.46 1.08 Bn
268 PD PagerDuty, Inc. secondary T-37 Infrastructure Software TG-06 1.11 Bn 5.87 2.24 0.65 Bn
269 UPBD Upbound Group, Inc. secondary F-06 Lending and Credit FG-02 1.07 Bn 11.81 0.22 0.96 Bn
270 LU Lufax Holding Ltd secondary F-06 Lending and Credit FG-02 1.06 Bn -1.94 0.20 -1.22 Bn
271 HTT High Templar Tech Ltd secondary F-04 Lending and Credit FG-02 1.05 Bn 10.69 185.05 0.15 Bn
272 ESQ Esquire Financial Holdings, Inc. secondary F-01 Banking FG-01 1.04 Bn 18.81 6.50 0.79 Bn
273 QFIN Qfin Holdings, Inc. secondary T-56 Fintech TG-09 1.03 Bn 2.11 0.43 0.04 Bn
274 NBBK NB Bancorp, Inc. secondary F-01 Banking FG-01 1.00 Bn 17.00 3.85 0.60 Bn
275 BUR Burford Capital Ltd secondary F-06 Lending and Credit FG-02 0.96 Bn -0.56 0.49 1.61 Bn
276 MTA Metalla Royalty & Streaming Ltd. secondary F-06 Lending and Credit FG-02 0.95 Bn -547.46 — 0.94 Bn
277 ABX Abacus Global Management, Inc. secondary F-11 Asset and Wealth Management FG-03 0.93 Bn 32.08 3.47 0.90 Bn
278 SMBK Smartfinancial Inc. secondary F-01 Banking FG-01 0.89 Bn 15.78 4.17 0.41 Bn
279 SABR Sabre Corp secondary T-51 Internet Platforms TG-08 0.88 Bn 1.21 0.31 0.19 Bn
280 FINV FinVolution Group secondary T-56 Fintech TG-09 0.86 Bn 2.77 0.45 -0.07 Bn
281 CRTO Criteo S.A. secondary T-50 Internet Platforms TG-08 0.85 Bn 10.40 0.47 0.60 Bn
282 EGBN Eagle Bancorp Inc secondary F-01 Banking FG-01 0.84 Bn -17.42 2.80 0.84 Bn
283 BKSY BlackSky Technology Inc. secondary T-40 Infrastructure Software TG-06 0.84 Bn -11.86 7.68 0.60 Bn
284 DSP Viant Technology Inc. secondary T-50 Internet Platforms TG-08 0.84 Bn 11.45 2.15 0.85 Bn
285 CEVA Ceva Inc secondary T-05 Semiconductors TG-01 0.82 Bn -314.55 — 0.82 Bn
286 HTB HomeTrust Bancshares, Inc. secondary F-01 Banking FG-01 0.81 Bn 12.19 3.75 0.53 Bn
287 PGC Peapack Gladstone Financial Corp secondary F-01 Banking FG-01 0.81 Bn 15.69 2.56 0.81 Bn
288 RXT Rackspace Technology, Inc. secondary T-63 Technology Services TG-11 0.81 Bn -4.52 0.30 0.70 Bn
289 CGBD Carlyle Secured Lending, Inc. secondary F-07 Lending and Credit FG-02 0.79 Bn 21.36 3.03 0.74 Bn
290 CTO CTO Realty Growth, Inc. secondary R-03 Property REITs RG-01 0.78 Bn 16.08 4.82 0.78 Bn
291 TDTH Trident Digital Tech Holdings Ltd secondary T-63 Technology Services TG-11 0.77 Bn -26.23 4,806.23 0.77 Bn
292 PUBM PubMatic, Inc. secondary T-50 Internet Platforms TG-08 0.75 Bn -56.33 2.59 0.61 Bn
293 PAR Par Technology Corp secondary T-31 Vertical Software TG-05 0.74 Bn -10.30 1.50 0.67 Bn
294 WYFI WhiteFiber, Inc. secondary T-44 Cloud Computing TG-07 0.74 Bn -81.53 8.15 0.68 Bn
295 POET Poet Technologies Inc. secondary T-01 Semiconductors TG-01 0.74 Bn 0.00 0.00 -0.06 Bn
296 PFIS Peoples Financial Services Corp. secondary F-01 Banking FG-01 0.72 Bn 12.69 54.93 0.23 Bn
297 CUBB Customers Bancorp, Inc. secondary F-01 Banking FG-01 0.72 Bn 2.52 0.78 -3.46 Bn
298 PRAA Pra Group Inc secondary F-06 Lending and Credit FG-02 0.71 Bn -2.84 0.54 0.65 Bn
299 VEL Velocity Financial, Inc. secondary F-05 Lending and Credit FG-02 0.70 Bn 6.46 -2.04 -6.74 Bn
300 RPD Rapid7, Inc. secondary T-38 Infrastructure Software TG-06 0.69 Bn 34.31 0.81 -0.01 Bn