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SDSU Stock Report: Limited Gains as Aztecs Head To Toledo

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A weekly look at what Aztecs football stock is up and which is trending downward

Throughout the 2026 San Diego State football season the Sons of Montezuma will take stock of the team’s recent performance.

After each game, we’ll provide an assessment of what position group or unit seems to be trending upward. They’ll be in the “Stock Up” category. Converserly, the team’s area that might need some tweaking to better maximize outcomes will be listed as “Stock Down.” 

Stock Up

If this piece focused on an individual Aztec footballer that excelled in the most recent game, it would be an easy one to write after SDSU’s 26-13 loss to James Madison on Saturday evening. 

Transfer running back Javion Kinnard racked up an impressive 181 yards on the ground and 251 all-purpose yards. Kinnard’s career night saw him gain the most yards an Aztecs’ player has tallied since 2017 when Rashaad Penny ripped off 283 against Army in the Armed Forces Bowl. 

We might have even given a quick shoutout to stud linebackers Sione Hala and Tano Letuli for contributing 10 tackles a piece for the San Diego State defense as they tried to keep the Red & Black in the game as the offense once again struggled to get going early. 

But this feature’s design means we want to focus on a unit or group whose performance is on the rise. We’re looking for a stock trending upward, if you will.

Sitting in the Snapdragon Stadium stands with fellow frustrated SDSU supporters, it can be reported that no unit’s effort we witnessed can truthfully qualify as ascending. 

So, this week’s “Stock Up” designation goes to the San Diego State Marching Aztecs, the color guard, cheer squad, dance team, twirlers, and, of course, the amazing Diamonds. 

These hard-working students put on a great show every week and Saturday evening offered no exception. The halftime performance sounded crisp and well-rehearsed. The cheer squad and band tried their best to keep the fans’ spirits up even as the game got away from the home team on the field and the student section had long emptied.

The Diamonds continue to shine with their fast and furious endzone dance routines. That entrance with the black capes dropping to the ground as the dance beat hits tells you the attention to detail this squad spends perfecting. When it’s their chance to shine on the Snap’s field, they don’t disappoint.

Heck, through halftime I’d bet the three twirlers caught as many tosses as the football team’s receivers. These ladies don’t let anything hit the ground.

Director of Athletic Bands Bryan Ransom deserves credit for his decades-long involvement with this important feature of Aztecs athletics. Keep bringing the Aztecs Fire!   

Stock Down

And, now for the Aztecs football stock heading downward. 

For the second week in a row, San Diego State started slow. Unlike the UCLA game, this time both the offense and defense found little success against the visitors from Harrisonburg, Virginia.

The Aztecs trailed 19-0 at the half marking the second game in a row where they failed to put points on the scoreboard in the first half.

How bad was the offense this week?  

The unit had six “drives” of less time of possession than the broadcast’s television timeouts. Those timeouts typically run 2 minutes and 45 seconds, as indicated by the official holding the sign with time counting down in big red numbers. 

The defense, though game to compete, had trouble adjusting to JMU’s up-tempo offense that saw the visitors marching up and down the field at the start. The Dukes scored on their first three possessions.

Despite the snazzy new red jerseys, SDSU looked unprepared for the actual matchup on the field. That’s coaching.

So, Week 3’s “Stock Down” designation lands squarely at the feet of the head man Coach Sean Lewis. 

This team features talented playmakers at the skill positions, but they rarely get the ball in space. The second year starting quarterback seems to have lost his confidence and it shows in hesitant decision making. 

For someone touted as an offensive innovator, Coach Lewis has yet to unlock his player’s potential at the game’s most important position.

As a longtime Aztecs fan, I’d love to hear our coach say something like this after a game: 

“Man, that was a great team win. I think that offensively we were able to start fast. I thought the defense was lights out all night, and then the kicking game, we won the average drive start by a big margin. We played complementary football.”

And then be able to add this nugget:

“I think that the plan worked. I thought our guys were not only physically ready to play; they were mentally ready. We had a great week of prep. Our coaches had really good game plans in all three units. This group is hungry. I think their mentality-you could kind of sense it around the hotel. There was an edge there, and they took the field and they meant business early.”

Yeah, that’s what JMU’s head coach Billy Napier said postgame. 

The Dukes knew this was a big game and a chance to make a statement as to who has a top team in the Group of Six. JMU came in prepared, with excellent game plans, and played well from start to finish. 

Final 26-13, statement made. That’s coaching, too.


The Aztecs head out on the road for a game against Toledo in Ohio on Saturday. Kickoff is set for 9:00 A.M. on CBS Sports Network.


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