# The loan participation market at 2026-03

Every credit union files participation purchases and sales quarterly; no filing names a counterparty. 1940 credit unions were active in the market on our window; 592 habitual sellers, 1253 buyers.

## Flows by quarter (annualized, $B)

| Quarter | Bought | Sold | Outstanding | Buyers | Sellers | Participation NCO % |
|---|---|---|---|---|---|---|
| 2024-06 | 12.73 | 11.24 | 59.2 | 763 | 314 | 0.73 |
| 2024-09 | 13.73 | 12.16 | 60.3 | 874 | 380 | 0.68 |
| 2024-12 | 14.85 | 12.83 | 61.5 | 996 | 439 | 0.64 |
| 2025-03 | 14.6 | 12.82 | 62.6 | 654 | 250 | 0.59 |
| 2025-06 | 17.48 | 14.56 | 64.4 | 864 | 334 | 0.52 |
| 2025-09 | 18.54 | 15.92 | 65.9 | 976 | 398 | 0.5 |
| 2025-12 | 19.81 | 17.15 | 67.4 | 1079 | 435 | 0.51 |
| 2026-03 | 19.22 | 16.31 | 68.2 | 747 | 263 | 0.56 |

## By collateral, latest year ($B)

| Collateral | Bought | Sold |
|---|---|---|
| Vehicle | 6.73 | 5.75 |
| 1-4 family RE | 5.6 | 5.12 |
| Commercial C&D | 3.9 | 3.31 |
| Commercial excl C&D | 0.8 | 0.44 |
| Student | 0.1 | 0.11 |
| All other | 2.09 | 1.58 |

## Sellers: the natural counterparties (top 40 by dollars sold)

| # | Credit union | State | Band | Assets | Net worth | Sold / yr | Bought / yr | Outstanding | Outstanding % NW | Part. NCO % | Why | Read |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | LIBERTY | IN | $1-10B | $4.77B | $509.8M | $1.32B | $0 | $13.6M | 3% | -0.02% | habitual seller | https://getbookiq.com/read/cu/1682 |
| 2 | IDAHO CENTRAL | ID | >$10B | $14.95B | $1.24B | $916.9M | $0 | $211.6M | 17% | 1.79% | sold this quarter | https://getbookiq.com/read/cu/63194 |
| 3 | ALLIANT | IL | >$10B | $19.66B | $1.85B | $755.0M | $0 | $580.7M | 31% | 0.43% | habitual seller | https://getbookiq.com/read/cu/67955 |
| 4 | QUORUM | NY | $1-10B | $1.31B | $129.6M | $664.8M | $0 | $29.7M | 23% | 0.66% | habitual seller | https://getbookiq.com/read/cu/22769 |
| 5 | DORT FINANCIAL | MI | $1-10B | $2.46B | $251.6M | $648.5M | $0 | $81.0M | 32% | 0.00% | habitual seller | https://getbookiq.com/read/cu/68708 |
| 6 | VYSTAR | FL | >$10B | $13.80B | $1.22B | $646.1M | $876.0M | $1.15B | 94% | 0.39% | habitual seller | https://getbookiq.com/read/cu/68490 |
| 7 | CANYON VIEW | UT | $1-10B | $2.14B | $206.7M | $593.0M | $12.1M | $23.9M | 12% | 0.06% | habitual seller | https://getbookiq.com/read/cu/24710 |
| 8 | MERITRUST | CO | $1-10B | $4.19B | $335.7M | $571.1M | $21.3M | $323.5M | 96% | 0.06% | habitual seller | https://getbookiq.com/read/cu/62574 |
| 9 | GEORGIA'S OWN | GA | $1-10B | $4.33B | $440.7M | $421.3M | $403.5M | $849.2M | 193% | 1.33% | habitual seller | https://getbookiq.com/read/cu/67390 |
| 10 | LAKE MICHIGAN | MI | >$10B | $16.86B | $1.90B | $374.6M | $0 | $50.0M | 3% | 0.00% | habitual seller | https://getbookiq.com/read/cu/62514 |
| 11 | VIBRANT | IL | $1-10B | $1.17B | $94.6M | $371.7M | $97.0M | $280.8M | 297% | 0.81% | habitual seller | https://getbookiq.com/read/cu/61093 |
| 12 | CREDIT UNION 1 | IL | $1-10B | $2.64B | $250.7M | $346.0M | $0 | $65.9M | 26% | 0.28% | habitual seller | https://getbookiq.com/read/cu/68727 |
| 13 | TEACHERS | NY | $1-10B | $9.94B | $1.07B | $315.6M | $7.9M | $97.2M | 9% | 1.11% | habitual seller | https://getbookiq.com/read/cu/8116 |
| 14 | EMPOWER | NY | $1-10B | $4.27B | $410.4M | $312.5M | $0 | $39.6M | 10% | 0.72% | habitual seller | https://getbookiq.com/read/cu/3025 |
| 15 | OREGON COMMUNITY | OR | $1-10B | $3.57B | $379.0M | $284.1M | $0 | $9.1M | 2% | 0.00% | habitual seller | https://getbookiq.com/read/cu/65856 |
| 16 | VERIDIAN | IA | $1-10B | $8.90B | $1.02B | $277.7M | $0 | $28.9M | 3% | 2.03% | habitual seller | https://getbookiq.com/read/cu/64418 |
| 17 | CREDIT HUMAN | TX | $1-10B | $4.38B | $318.5M | $210.6M | $0 | $30.0M | 9% | 0.42% | sold this quarter | https://getbookiq.com/read/cu/24382 |
| 18 | WESTERRA | CO | $1-10B | $2.05B | $209.5M | $201.0M | $0 | $147.6M | 70% | -0.02% | habitual seller | https://getbookiq.com/read/cu/65788 |
| 19 | USALLIANCE | NY | $1-10B | $3.37B | $273.9M | $193.3M | $0 | $143.6M | 52% | 2.41% | habitual seller | https://getbookiq.com/read/cu/17587 |
| 20 | CHARTWAY | VA | $1-10B | $3.29B | $267.4M | $192.9M | $20.0M | $212.9M | 80% | 1.58% | habitual seller | https://getbookiq.com/read/cu/13242 |
| 21 | GROW FINANCIAL | FL | $1-10B | $3.94B | $429.1M | $181.9M | $184.4M | $384.6M | 90% | 0.03% | habitual seller | https://getbookiq.com/read/cu/9976 |
| 22 | RALLY | TX | $1-10B | $4.77B | $664.4M | $175.9M | $0 | $0 | 0% | – | sold this quarter | https://getbookiq.com/read/cu/68615 |
| 23 | CREDIT UNION OF TEXAS | TX | $1-10B | $2.72B | $222.1M | $159.6M | $0 | $0 | 0% | – | habitual seller | https://getbookiq.com/read/cu/66327 |
| 24 | CREDIT UNION 1 | AK | $1-10B | $1.53B | $217.0M | $156.9M | $0 | $0 | 0% | – | sold this quarter | https://getbookiq.com/read/cu/66157 |
| 25 | GENISYS | MI | $1-10B | $6.44B | $985.4M | $145.2M | $41.5M | $117.8M | 12% | 3.28% | habitual seller | https://getbookiq.com/read/cu/68536 |
| 26 | OCEANAIR | CA | $500M-1B | $870.8M | $65.4M | $136.0M | $0 | $81.4M | 124% | 0.00% | habitual seller | https://getbookiq.com/read/cu/7608 |
| 27 | MICHIGAN STATE UNIVERSITY | MI | $1-10B | $8.51B | $712.4M | $135.9M | $20.0M | $59.6M | 8% | 0.00% | habitual seller | https://getbookiq.com/read/cu/23279 |
| 28 | TRULIANT | NC | $1-10B | $5.45B | $558.4M | $134.7M | $0 | $62.2M | 11% | 0.09% | habitual seller | https://getbookiq.com/read/cu/7840 |
| 29 | PATHWAYS FINANCIAL | OH | $500M-1B | $776.4M | $81.2M | $129.4M | $3.8M | $76.4M | 94% | 2.07% | habitual seller | https://getbookiq.com/read/cu/66376 |
| 30 | MOUNTAIN AMERICA | UT | >$10B | $22.66B | $2.13B | $127.8M | $0 | $0 | 0% | – | habitual seller | https://getbookiq.com/read/cu/24692 |
| 31 | GESA | WA | $1-10B | $6.72B | $626.2M | $126.5M | $0 | $122.6M | 20% | 1.03% | habitual seller | https://getbookiq.com/read/cu/68278 |
| 32 | AMPLIFY | TX | $1-10B | $1.27B | $136.2M | $126.0M | $0 | $10.1M | 7% | 2.21% | habitual seller | https://getbookiq.com/read/cu/68681 |
| 33 | GTE | FL | $1-10B | $3.13B | $336.0M | $124.1M | $0 | $164.2M | 49% | 0.73% | habitual seller | https://getbookiq.com/read/cu/196 |
| 34 | UNITED | MI | $1-10B | $4.40B | $512.8M | $123.9M | $0 | $6.7M | 1% | -1.11% | habitual seller | https://getbookiq.com/read/cu/6288 |
| 35 | FOURLEAF | NY | >$10B | $14.37B | $1.28B | $123.4M | $0 | $42.4M | 3% | 0.00% | habitual seller | https://getbookiq.com/read/cu/4735 |
| 36 | WESTMARK | ID | $1-10B | $1.62B | $129.8M | $116.6M | $0 | $19.6M | 15% | 0.00% | sold this quarter | https://getbookiq.com/read/cu/68353 |
| 37 | KEYPOINT | CA | $1-10B | $1.70B | $149.0M | $113.5M | $22.2M | $247.8M | 166% | 0.80% | habitual seller | https://getbookiq.com/read/cu/65299 |
| 38 | COMMUNITY FIRST | WI | $1-10B | $6.66B | $851.3M | $112.0M | $0 | $81.4M | 10% | 0.00% | habitual seller | https://getbookiq.com/read/cu/66642 |
| 39 | DESERET FIRST | UT | $1-10B | $1.26B | $104.4M | $111.1M | $0 | $71.8M | 69% | -0.02% | habitual seller | https://getbookiq.com/read/cu/24708 |
| 40 | SAN FRANCISCO | CA | $1-10B | $1.58B | $170.3M | $106.8M | $0 | $88.3M | 52% | 0.48% | sold this quarter | https://getbookiq.com/read/cu/24542 |

## Buyers (top 40 by dollars bought)

| # | Credit union | State | Band | Assets | Net worth | Sold / yr | Bought / yr | Outstanding | Outstanding % NW | Part. NCO % | Why | Read |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | VYSTAR | FL | >$10B | $13.80B | $1.22B | $646.1M | $876.0M | $1.15B | 94% | 0.39% | habitual seller | https://getbookiq.com/read/cu/68490 |
| 2 | AFFINITY PLUS | MN | $1-10B | $5.05B | $426.7M | $0 | $593.1M | $686.4M | 161% | 0.60% | habitual buyer | https://getbookiq.com/read/cu/24362 |
| 3 | BELLCO | CO | $1-10B | $8.63B | $860.6M | $0 | $585.2M | $708.2M | 82% | 0.37% | habitual seller | https://getbookiq.com/read/cu/68437 |
| 4 | EVERWISE | IN | $1-10B | $5.70B | $512.5M | $101.8M | $562.8M | $477.5M | 93% | 0.00% | habitual seller | https://getbookiq.com/read/cu/60060 |
| 5 | DELTA COMMUNITY | GA | $1-10B | $9.14B | $1.12B | $0 | $527.5M | $806.0M | 72% | 0.62% | habitual buyer | https://getbookiq.com/read/cu/66357 |
| 6 | ORANGE COUNTY'S | CA | $1-10B | $3.07B | $316.5M | $2.7M | $449.3M | $600.1M | 190% | 0.42% | sold this quarter | https://getbookiq.com/read/cu/24981 |
| 7 | GEORGIA'S OWN | GA | $1-10B | $4.33B | $440.7M | $421.3M | $403.5M | $849.2M | 193% | 1.33% | habitual seller | https://getbookiq.com/read/cu/67390 |
| 8 | NEIGHBORS | LA | $1-10B | $1.40B | $154.9M | $0 | $329.2M | $300.2M | 194% | 0.75% | habitual seller | https://getbookiq.com/read/cu/9229 |
| 9 | AMERICA FIRST | UT | >$10B | $24.73B | $2.75B | $0 | $327.2M | $198.4M | 7% | 0.00% | pressure | https://getbookiq.com/read/cu/24694 |
| 10 | AUSTIN TELCO | TX | $1-10B | $2.55B | $352.4M | $0 | $296.0M | $802.4M | 228% | 0.35% | habitual buyer | https://getbookiq.com/read/cu/4584 |
| 11 | EDUCATIONAL | FL | $1-10B | $1.80B | $279.7M | $0 | $288.8M | $600.0M | 215% | 0.69% | habitual buyer | https://getbookiq.com/read/cu/176 |
| 12 | SAFE | CA | $1-10B | $4.45B | $466.8M | $0 | $284.1M | $198.3M | 43% | 0.03% | bought this quarter | https://getbookiq.com/read/cu/68366 |
| 13 | FIRSTLIGHT | TX | $1-10B | $1.63B | $166.2M | $0 | $221.7M | $129.6M | 78% | 0.35% | pressure | https://getbookiq.com/read/cu/10174 |
| 14 | COMMUNITYAMERICA | KS | $1-10B | $8.98B | $866.8M | $0 | $215.8M | $282.4M | 33% | 0.00% | habitual seller | https://getbookiq.com/read/cu/15732 |
| 15 | WHATCOM EDUCATIONAL | WA | $1-10B | $3.33B | $374.3M | $0 | $189.7M | $445.3M | 119% | 0.21% | habitual seller | https://getbookiq.com/read/cu/66373 |
| 16 | GROW FINANCIAL | FL | $1-10B | $3.94B | $429.1M | $181.9M | $184.4M | $384.6M | 90% | 0.03% | habitual seller | https://getbookiq.com/read/cu/9976 |
| 17 | ENT | CO | >$10B | $19.48B | $2.25B | $72.3M | $184.0M | $707.6M | 32% | 0.14% | habitual seller | https://getbookiq.com/read/cu/68671 |
| 18 | ABERDEEN PROVING GROUND | MD | $1-10B | $2.65B | $240.0M | $0 | $166.6M | $41.2M | 17% | 0.00% | bought this quarter | https://getbookiq.com/read/cu/2540 |
| 19 | LIGHTHOUSE | NH | $1-10B | $2.08B | $223.5M | $0 | $152.9M | $158.1M | 71% | 0.15% | habitual buyer | https://getbookiq.com/read/cu/24964 |
| 20 | GREATER TEXAS | TX | $500M-1B | $988.0M | $70.1M | $0 | $148.1M | $110.7M | 158% | 0.53% | habitual buyer | https://getbookiq.com/read/cu/7590 |
| 21 | USF FEDERAL CREDIT UNION | FL | $1-10B | $1.37B | $147.5M | $0 | $144.9M | $218.0M | 148% | 0.53% | habitual buyer | https://getbookiq.com/read/cu/24223 |
| 22 | CITADEL | PA | $1-10B | $6.77B | $630.9M | $0 | $134.8M | $312.3M | 50% | 0.47% | loans exceed shares | https://getbookiq.com/read/cu/2099 |
| 23 | FIRST TECHNOLOGY | CA | >$10B | $28.58B | $3.00B | $49.2M | $134.4M | $493.7M | 16% | 0.30% | habitual seller | https://getbookiq.com/read/cu/23521 |
| 24 | ROCKLAND | MA | $1-10B | $3.74B | $390.4M | $0 | $130.1M | $239.0M | 61% | 0.35% | habitual buyer | https://getbookiq.com/read/cu/24224 |
| 25 | IQ | WA | $1-10B | $2.20B | $241.6M | $0 | $129.4M | $267.2M | 111% | 0.16% | habitual seller | https://getbookiq.com/read/cu/60438 |
| 26 | COMMUNITY FIRST | CA | $500M-1B | $922.1M | $91.6M | $0 | $125.4M | $140.1M | 153% | 0.00% | habitual buyer | https://getbookiq.com/read/cu/61667 |
| 27 | BLAZE | MN | $1-10B | $4.82B | $414.1M | $0 | $117.2M | $46.2M | 11% | 0.02% | bought this quarter | https://getbookiq.com/read/cu/68651 |
| 28 | TECHNOLOGY | CA | $1-10B | $4.66B | $512.7M | $0 | $116.0M | $199.0M | 39% | 0.48% | habitual seller | https://getbookiq.com/read/cu/68383 |
| 29 | ASSOCIATED CREDIT UNION | GA | $1-10B | $2.56B | $326.9M | $0 | $114.4M | $528.0M | 162% | 1.06% | habitual seller | https://getbookiq.com/read/cu/60484 |
| 30 | KINECTA | CA | $1-10B | $6.44B | $582.3M | $0 | $111.9M | $711.9M | 122% | 0.13% | bought this quarter | https://getbookiq.com/read/cu/4142 |
| 31 | SKYONE | CA | $500M-1B | $875.8M | $65.6M | $0 | $111.3M | $194.9M | 297% | 0.33% | habitual seller | https://getbookiq.com/read/cu/6248 |
| 32 | STATE EMPLOYEES CU OF MARYLAND, INC | MD | $1-10B | $5.73B | $594.6M | $0 | $109.5M | $915.2M | 154% | 0.00% | habitual seller | https://getbookiq.com/read/cu/66330 |
| 33 | MARINE | NC | $1-10B | $1.08B | $113.5M | $0 | $105.9M | $298.1M | 263% | 0.18% | habitual buyer | https://getbookiq.com/read/cu/12977 |
| 34 | GULF WINDS | FL | $1-10B | $1.33B | $132.0M | $0 | $105.0M | $54.7M | 41% | 0.00% | habitual buyer | https://getbookiq.com/read/cu/68694 |
| 35 | VISIONS | NY | $1-10B | $5.25B | $544.3M | $0 | $104.1M | $205.3M | 38% | 0.00% | bought this quarter | https://getbookiq.com/read/cu/17429 |
| 36 | UNITED STATES SENATE | VA | $1-10B | $1.55B | $115.5M | $0 | $104.0M | $385.6M | 334% | 0.64% | habitual buyer | https://getbookiq.com/read/cu/624 |
| 37 | TROPICAL FINANCIAL | FL | $500M-1B | $995.2M | $93.0M | $0 | $103.6M | $155.2M | 167% | 0.27% | deposits shrinking | https://getbookiq.com/read/cu/68476 |
| 38 | SAN DIEGO COUNTY | CA | $1-10B | $9.38B | $1.88B | $0 | $103.4M | $148.9M | 8% | -0.03% | pressure | https://getbookiq.com/read/cu/61004 |
| 39 | CENTER PARC | GA | $1-10B | $2.51B | $332.2M | $74.4M | $100.9M | $311.7M | 94% | 0.23% | habitual seller | https://getbookiq.com/read/cu/67389 |
| 40 | ESSENTIAL | LA | $200-500M | $429.8M | $38.9M | $0 | $98.4M | $57.1M | 147% | 0.04% | habitual seller | https://getbookiq.com/read/cu/68736 |

## Stressed participants

| # | Credit union | State | Band | Assets | Net worth | Sold / yr | Bought / yr | Outstanding | Outstanding % NW | Part. NCO % | Why | Read |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | RIVERMARK COMMUNITY | OR | $1-10B | $3.24B | $344.3M | $0 | $97.2M | $109.5M | 32% | 59.17% | bought this quarter | https://getbookiq.com/read/cu/65644 |
| 2 | CPM | SC | $500M-1B | $742.0M | $69.4M | $0 | $0 | $47.6M | 69% | 37.09% | heavy holder | https://getbookiq.com/read/cu/21971 |
| 3 | FOUR POINTS | NE | $100-200M | $184.2M | $13.2M | $0 | $0 | $10.4M | 79% | 26.05% | pressure | https://getbookiq.com/read/cu/24753 |
| 4 | U.S. EAGLE | NM | $1-10B | $1.48B | $120.4M | $12.0M | $0 | $58.9M | 49% | 21.03% | habitual seller | https://getbookiq.com/read/cu/808 |
| 5 | NUTMEG STATE FINANCIAL | CT | $500M-1B | $885.2M | $108.0M | $0 | $0 | $7.7M | 7% | 14.13% | habitual seller | https://getbookiq.com/read/cu/68657 |
| 6 | LEADERS CREDIT UNION | TN | $1-10B | $1.31B | $144.8M | $0 | $0 | $5.4M | 4% | 11.47% | pressure | https://getbookiq.com/read/cu/61185 |
| 7 | CYPRUS | UT | $1-10B | $2.07B | $255.3M | $1.3M | $2.8M | $14.8M | 6% | 9.68% | habitual seller | https://getbookiq.com/read/cu/24688 |
| 8 | VALLEYSTAR | VA | $500M-1B | $518.0M | $52.6M | $0 | $1.4M | $10.6M | 20% | 6.64% | deposits shrinking | https://getbookiq.com/read/cu/66924 |
| 9 | UTAH COMMUNITY | UT | $1-10B | $3.86B | $389.7M | $0 | $0 | $22.2M | 6% | 5.08% | pressure | https://getbookiq.com/read/cu/10709 |
| 10 | COBALT | NE | $1-10B | $1.33B | $119.3M | $0 | $0 | $43.3M | 36% | 4.64% | pressure | https://getbookiq.com/read/cu/24917 |
| 11 | PREMIER AMERICA | CA | $1-10B | $3.31B | $321.8M | $0 | $65.0M | $75.2M | 23% | 3.99% | bought this quarter | https://getbookiq.com/read/cu/68428 |
| 12 | HEARTLAND | MN | $100-200M | $176.4M | $17.3M | $0 | $0 | $6.0M | 35% | 3.99% | heavy holder | https://getbookiq.com/read/cu/64168 |
| 13 | CONCHO EDUCATORS | TX | $100-200M | $100.9M | $11.5M | $0 | $0 | $18.5M | 161% | 3.89% | heavy holder | https://getbookiq.com/read/cu/4684 |
| 14 | PRIMEWAY | TX | $500M-1B | $731.8M | $94.1M | $0 | $0 | $45.4M | 48% | 3.88% | pressure | https://getbookiq.com/read/cu/2131 |
| 15 | MC | PA | $200-500M | $249.7M | $29.8M | $0 | $0 | $11.0M | 37% | 3.85% | heavy holder | https://getbookiq.com/read/cu/24929 |
| 16 | SUNWARD | NM | $1-10B | $4.55B | $404.3M | $0 | $1.1M | $72.2M | 18% | 3.54% | habitual buyer | https://getbookiq.com/read/cu/5851 |
| 17 | TRUMARK FINANCIAL | PA | $1-10B | $3.57B | $380.9M | $0 | $23.0M | $163.7M | 43% | 3.28% | habitual buyer | https://getbookiq.com/read/cu/66158 |
| 18 | GENISYS | MI | $1-10B | $6.44B | $985.4M | $145.2M | $41.5M | $117.8M | 12% | 3.28% | habitual seller | https://getbookiq.com/read/cu/68536 |
| 19 | HOME TOWN | MN | $200-500M | $295.6M | $29.7M | $0 | $30.4M | $14.4M | 49% | 3.00% | habitual seller | https://getbookiq.com/read/cu/21669 |
| 20 | DESERT FINANCIAL | AZ | $1-10B | $9.79B | $1.13B | $0 | $0 | $63.4M | 6% | 2.81% |  | https://getbookiq.com/read/cu/68713 |
| 21 | POTLATCH NO. 1 FINANCIAL | ID | $1-10B | $2.15B | $189.0M | $0 | $9.1M | $23.3M | 12% | 2.74% | bought this quarter | https://getbookiq.com/read/cu/68700 |
| 22 | TRI COUNTY AREA | PA | $200-500M | $210.4M | $22.4M | $3.6M | $2.6M | $7.8M | 35% | 2.65% | habitual seller | https://getbookiq.com/read/cu/6269 |
| 23 | SHARON & CRESCENT UNITED | MA | $1-10B | $1.41B | $177.2M | $0 | $0 | $6.4M | 4% | 2.63% |  | https://getbookiq.com/read/cu/67836 |
| 24 | AMOCO | TX | $1-10B | $1.50B | $135.2M | $0 | $0 | $21.5M | 16% | 2.63% | pressure | https://getbookiq.com/read/cu/2441 |
| 25 | WHITE RIVER | WA | $100-200M | $115.6M | $19.2M | $0 | $8.0M | $16.3M | 85% | 2.60% | habitual buyer | https://getbookiq.com/read/cu/67201 |
| 26 | TRUWEST | AZ | $1-10B | $1.72B | $185.3M | $0 | $0 | $37.6M | 20% | 2.54% |  | https://getbookiq.com/read/cu/63832 |
| 27 | CDC | GA | $200-500M | $435.5M | $39.7M | $0 | $0 | $16.7M | 42% | 2.53% | heavy holder | https://getbookiq.com/read/cu/6053 |
| 28 | FIBRE | WA | $1-10B | $1.82B | $244.7M | $0 | $0 | $37.4M | 15% | 2.52% | habitual buyer | https://getbookiq.com/read/cu/2191 |
| 29 | EDUCATION FIRST | TX | $500M-1B | $589.9M | $52.0M | $0 | $0 | $22.7M | 44% | 2.42% | habitual buyer | https://getbookiq.com/read/cu/24470 |
| 30 | USALLIANCE | NY | $1-10B | $3.37B | $273.9M | $193.3M | $0 | $143.6M | 52% | 2.41% | habitual seller | https://getbookiq.com/read/cu/17587 |
| 31 | COASTLIFE | TX | $500M-1B | $517.5M | $60.0M | $0 | $54.1M | $73.0M | 122% | 2.31% | habitual buyer | https://getbookiq.com/read/cu/68482 |
| 32 | NEWPORT NEWS MUN. EMP CREDIT UNION | VA | $50-100M | $55.2M | $5.5M | $0 | $3.3M | $9.4M | 172% | 2.25% | habitual buyer | https://getbookiq.com/read/cu/66970 |
| 33 | PAHO/WHO | VA | $200-500M | $325.8M | $46.5M | $0 | $0 | $27.0M | 58% | 2.24% | heavy holder | https://getbookiq.com/read/cu/6464 |
| 34 | AMPLIFY | TX | $1-10B | $1.27B | $136.2M | $126.0M | $0 | $10.1M | 7% | 2.21% | habitual seller | https://getbookiq.com/read/cu/68681 |
| 35 | CONNEXUS | WI | $1-10B | $4.15B | $297.1M | $0 | $0 | $140.5M | 47% | 2.12% | deposits shrinking | https://getbookiq.com/read/cu/66538 |
| 36 | SPOKANE TEACHERS | WA | $1-10B | $6.38B | $648.5M | $0 | $0 | $298.4M | 46% | 2.10% | heavy holder | https://getbookiq.com/read/cu/68203 |
| 37 | PATHWAYS FINANCIAL | OH | $500M-1B | $776.4M | $81.2M | $129.4M | $3.8M | $76.4M | 94% | 2.07% | habitual seller | https://getbookiq.com/read/cu/66376 |
| 38 | NATIONAL POLICE | IL | $500M-1B | $615.1M | $54.0M | $0 | $0 | $31.3M | 58% | 2.05% | heavy holder | https://getbookiq.com/read/cu/2876 |
| 39 | MCKESSON & HEALTHCARE PROVIDERS | CA | $50-100M | $93.3M | $12.5M | $0 | $2.0M | $5.7M | 45% | 2.04% | habitual buyer | https://getbookiq.com/read/cu/8774 |
| 40 | VERIDIAN | IA | $1-10B | $8.90B | $1.02B | $277.7M | $0 | $28.9M | 3% | 2.03% | habitual seller | https://getbookiq.com/read/cu/64418 |

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