Vault-13

AMERIS BANCORP ABCB

COM · Common Stock · CUSIP 03076K108

Publicly traded banking company

277 institutional holders +28 vs Q3 2022
63,156,33363.2m shares reported held*
91.1% of all shares outstanding*
$3.0bnreported value*
43 new 77 added 106 reduced 21 sold out net bought ≈ $21.8m (+462.0k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($693.5k this quarter). Holder counts are more reliable. Shares outstanding: 69.4m as of 2022-10-31, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $47.16. Options: 4 managers hold calls ($1.8m notional), 2 hold puts ($108.4k).

Trends to Q4 2022

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 249Q4 22: 277277Q3 22Q4 22
Numbers
QuarterHolders
Q3 2022249
Q4 2022277

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$500k$1m$1.5m$2mQ3 22 calls: $1.4mQ3 22 puts: $215.0kQ3 22P/C 0.16Q4 22 calls: $1.8mQ4 22 puts: $108.4kQ4 22P/C 0.06
Numbers
QuarterCallsPutsP/C
Q3 2022$1.4m$215.0k0.16
Q4 2022$1.8m$108.4k0.06

Biggest buyers

Independent Advisor Alliance New +1,928,919+1.9m
North Reef Capital Management LP New +1,108,516+1.1m
Davis Asset Management, L.P. New +400,000+400.0k
DIMENSIONAL FUND ADVISORS LP Added +214,847+214.8k
GREAT LAKES ADVISORS, LLC New +133,815+133.8k
JPMORGAN CHASE & CO Added +130,212+130.2k
First Eagle Investment Management, LLC Added +95,000+95.0k
HSBC HOLDINGS PLC Added +78,903+78.9k
BRIDGEWAY CAPITAL MANAGEMENT, LLC New +75,850+75.8k
VANGUARD GROUP INC Added +71,339+71.3k

Biggest sellers

JANUS HENDERSON GROUP PLC Reduced -1,965,289-2.0m
AMERICAN CENTURY COMPANIES INC Reduced -314,970-315.0k
MILLENNIUM MANAGEMENT LLC Reduced -308,966-309.0k
Thrivent Financial for Lutherans Reduced -228,729-228.7k
WELLINGTON MANAGEMENT GROUP LLP Reduced -214,316-214.3k
GOLDMAN SACHS GROUP INC Reduced -162,255-162.3k
Orchard Capital Management, LLC Reduced -142,890-142.9k
Summit Creek Advisors LLC Reduced -110,060-110.1k
Nuveen Asset Management, LLC Reduced -103,799-103.8k
PRINCIPAL FINANCIAL GROUP INC Reduced -102,278-102.3k

Biggest calls

CITADEL ADVISORS LLC Added $1.2m25.2k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $546.8k11.6k shares
SIMPLEX TRADING, LLC Added $51.0k1.1k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

CITADEL ADVISORS LLC Reduced $108.4k2.3k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
BlackRock, Inc. 13G · institution filed 2025-07-18 13.6% 9.3m≈ $843.7m 2025-07-18
VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-28 5.5% new 3.7m≈ $336.8m 2026-04-28
STATE STREET CORP 13G · institution +0.4 pts · filed 2026-08-07 5.2% +0.4 pts 3.5m≈ $315.0m 2026-08-07
VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 5.0% new 3.4m≈ $306.6m 2026-04-29

Fell to 5% or below in the last year: North Reef Capital Management LP (4.1%, 2026-08-14), VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)

Insider purchases and sales in Q4 2022

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

Officers and directors buying vs selling

Number of people, by quarter (10% owners not included)

BuyingSelling
404Q1 21: 0 buyingQ1 21: 0 sellingQ2 21: 0 buyingQ2 21: 0 sellingQ2 21Q3 21: 0 buyingQ3 21: 0 sellingQ4 21: 0 buyingQ4 21: 1 sellingQ4 21Q1 22: 0 buyingQ1 22: 0 sellingQ2 22: 1 buyingQ2 22: 0 sellingQ2 22Q3 22: 0 buyingQ3 22: 0 sellingQ4 22: 0 buyingQ4 22: 4 sellingQ4 22
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q1 20210—0——
Q2 20210—0——
Q3 20210—0——
Q4 20210—1$83.0k—
Q1 20220—0——
Q2 20221$10.0k0——
Q3 20220—0——
Q4 20220—4$692.2k—
DateInsiderTradeSharesPrice ValueTheir holding
2022-11-21 Veal Jimmy D Director Sold 1,120 $51.87 $58.1k1.1k shares -1%
2022-11-21 Veal Jimmy D Director Sold 810 $51.89 $42.0k810 shares -6%
2022-11-20 MILLER JAMES B JR Director Sold 605 $52.80 $31.9k605 shares -100%
2022-11-07 McKendry William D Chief Risk Officer Sold 3,000 $51.96 $155.9k3.0k shares -12%
2022-11-02 Choate William Millard Director Sold 8,000 $50.53 $404.2k8.0k shares -4%

Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).

Holders, Q4 2022

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BlackRock Inc. 0.02% of their portfolio New York, NY 10,164,63710.2m $479.2m $479.2m 0.02% Added +14.0k +14,006
2 VANGUARD GROUP INC 0.01% of their portfolio Valley Forge, PA 7,418,0387.4m $349.7m $349.7m 0.01% Added +71.3k +71,339
3 WELLINGTON MANAGEMENT GROUP LLP 0.06% of their portfolio Boston, MA 6,102,3336.1m $287.7m $287.7m 0.06% Reduced -214.3k -214,316
4 DIMENSIONAL FUND ADVISORS LP 0.06% of their portfolio AUSTIN, TX 3,845,0423.8m $181.3m $181.3m 0.06% Added +214.8k +214,847
5 STATE STREET CORP 0.01% of their portfolio BOSTON, MA 2,997,7403.0m $141.8m $141.8m 0.01% Added +36.5k +36,506
6 PRINCIPAL FINANCIAL GROUP INC 0.07% of their portfolio DES MOINES, IA 2,026,1312.0m $95.5m $95.5m 0.07% Reduced -102.3k -102,278
7 AMERICAN CENTURY COMPANIES INC 0.08% of their portfolio KANSAS CITY, MO 2,018,9472.0m $95.2m $95.2m 0.08% Reduced -315.0k -314,970
8 Independent Advisor Alliance 5.00% of their portfolio CHARLOTTE, NC 1,928,9191.9m $90.9m $90.9m 5.00% New
9 JANUS HENDERSON GROUP PLC 0.05% of their portfolio LONDON, X0 1,602,0491.6m $75.5m $75.5m 0.05% Reduced -2.0m -1,965,289
10 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 1,392,9791.4m $65.7m $65.7m 0.02% Reduced -25.9k -25,913
11 GW&K Investment Management, LLC 0.61% of their portfolio BOSTON, MA 1,271,1851.3m $59.9m $59.9m 0.61% Reduced -15.7k -15,683
12 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 1,263,0831.3m $59.5m $59.5m 0.02% Reduced -162.3k -162,255
13 GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio BOSTON, MA 1,261,8851.3m $59.5m $59.5m 0.01% Added +24.5k +24,491
14 North Reef Capital Management LP 5.73% of their portfolio LAGUNA BEACH, CA 1,108,5161.1m $52.3m $52.3m 5.73% New
15 LOOMIS SAYLES & CO L P 0.10% of their portfolio BOSTON, MA 1,063,4031.1m $50.1m $50.1m 0.10% Reduced -30.5k -30,530
16 WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.15% of their portfolio CHICAGO, IL 852,005852.0k $40.2m $40.2m 0.15% Reduced -32.4k -32,365
17 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 768,423768.4k $36.2m $36.2m 0.01% Added +16.8k +16,839
18 NORTHERN TRUST CORP 0.01% of their portfolio CHICAGO, IL 733,099733.1k $34.6m $34.6m 0.01% Added +3.6k +3,567
19 NORGES BANK 0.01% of their portfolio OSLO, Q8 674,037674.0k $31.8m $31.8m 0.01% Added +41.3k +41,308
20 VICTORY CAPITAL MANAGEMENT INC 0.04% of their portfolio San Antonio, TX 663,780663.8k $31.3m $31.3m 0.04% Added +1.6k +1,604
21 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.02% of their portfolio Toronto, A6 638,328638.3k $30.1m $30.1m 0.02% Reduced -65.8k -65,796
22 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio SAN FRANCISCO, CA 609,429609.4k $28.7m $28.7m 0.01% Added +19.8k +19,809
23 Nuveen Asset Management, LLC 0.01% of their portfolio CHICAGO, IL 538,272538.3k $25.4m $25.4m 0.01% Reduced -103.8k -103,799
24 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 521,613521.6k $24.6m $24.6m 0.00% Reduced -16.2k -16,236
25 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 458,924458.9k $21.6m $21.6m 0.00% Added +130.2k +130,212
26 Davis Asset Management, L.P. 1.05% of their portfolio SAUSALITO, CA 400,000400.0k $18.9m $18.9m 1.05% New
27 Summit Creek Advisors LLC 2.54% of their portfolio MINNEAPOLIS, MN 396,352396.4k $18.7m $18.7m 2.54% Reduced -110.1k -110,060
28 CONGRESS ASSET MANAGEMENT CO 0.18% of their portfolio BOSTON, MA 374,340374.3k $17.6m $17.6m 0.18% Added +13.6k +13,584
29 Boston Partners 0.02% of their portfolio BOSTON, MA 366,509366.5k $17.3m $17.3m 0.02% Added +12.2k +12,175
30 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 336,722336.7k $15.9m $15.9m 0.02% Reduced -309.0k -308,966
31 GLENMEDE TRUST CO NA 0.09% of their portfolio PHILADELPHIA, PA 311,398311.4k $14.7m $14.7m 0.09% Reduced -40.0k -39,961
32 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 292,667292.7k $13.8m $13.8m 0.00% Added +60.3k +60,315
33 SEI INVESTMENTS CO 0.03% of their portfolio OAKS, PA 246,631246.6k $11.6m $11.6m 0.03% Reduced -46.8k -46,757
34 Ceredex Value Advisors LLC 0.18% of their portfolio WINTER PARK, FL 246,223246.2k $11.6m $11.6m 0.18% Reduced -6.4k -6,363
35 Penn Capital Management Company, LLC 1.18% of their portfolio PHILADELPHIA, PA 245,597245.6k $11.6m $11.6m 1.18% Reduced -22.7k -22,669
36 PL Capital Advisors, LLC 3.14% of their portfolio NAPLES, FL 242,297242.3k $11.4m $11.4m 3.14% Reduced -5.2k -5,200
37 NEW YORK STATE COMMON RETIREMENT FUND 0.02% of their portfolio ALBANY, NY 241,576241.6k $11.4m $11.4m 0.02% Reduced -16.7k -16,718
38 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 236,237236.2k $11.1m $11.1m 0.00% Added +61.9k +61,868
39 PEREGRINE CAPITAL MANAGEMENT LLC 0.34% of their portfolio MINNEAPOLIS, MN 230,319230.3k $10.9m $10.9m 0.34% Reduced -2.5k -2,498
40 PRUDENTIAL FINANCIAL INC 0.02% of their portfolio NEWARK, NJ 228,720228.7k $10.8m $10.8m 0.02% Added +16.5k +16,480
41 RHUMBLINE ADVISERS 0.01% of their portfolio BOSTON, MA 207,301207.3k $9.8m $9.8m 0.01% Added +1.8k +1,829
42 MALTESE CAPITAL MANAGEMENT LLC 2.69% of their portfolio New York, NY 205,600205.6k $9.7m $9.7m 2.69% Added +600 +600
43 SEGALL BRYANT & HAMILL, LLC 0.11% of their portfolio CHICAGO, IL 204,697204.7k $9.6m $9.6m 0.11% Reduced -5.2k -5,162
44 Allspring Global Investments Holdings, LLC 0.02% of their portfolio CHARLOTTE, NC 204,210204.2k $9.6m $9.6m 0.02% Reduced -10.2k -10,216
45 Phocas Financial Corp. 1.35% of their portfolio ALAMEDA, CA 199,056199.1k $9.4m $9.4m 1.35% Reduced -120 -120
46 Legal & General Group Plc 0.00% of their portfolio London, X0 191,219191.2k $9.0m $9.0m 0.00% Added +3.1k +3,052
47 Fisher Asset Management, LLC 0.01% of their portfolio PLANO, TX 189,392189.4k $8.9m $8.9m 0.01% Reduced -7.6k -7,624
48 Sapience Investments, LLC 1.78% of their portfolio Irvine, CA 180,080180.1k $8.5m $8.5m 1.78% Reduced -19.7k -19,675
49 Swiss National Bank 0.01% of their portfolio ZURICH, V8 159,144159.1k $7.5m $7.5m 0.01% Added +2.7k +2,700
50 GREAT LAKES ADVISORS, LLC 0.36% of their portfolio CHICAGO, IL 133,815133.8k $6.3m $6.3m 0.36% New
51 Brandywine Global Investment Management, LLC 0.05% of their portfolio PHILADELPHIA, PA 132,383132.4k $6.2m $6.2m 0.05% Added +47.0k +47,011
52 Orchard Capital Management, LLC 2.03% of their portfolio CHICAGO, IL 128,664128.7k $6.1m $6.1m 2.03% Reduced -142.9k -142,890
53 NORDEA INVESTMENT MANAGEMENT AB 0.01% of their portfolio STOCKHOLM, V7 128,260128.3k $6.0m $6.0m 0.01% Reduced -5.0k -5,044
54 Curi Capital, LLC 0.21% of their portfolio CHICAGO, IL 122,984123.0k $5.8m $5.8m 0.21% Reduced -994 -994
55 Public Sector Pension Investment Board 0.04% of their portfolio MONTREAL, A8 118,601118.6k $5.6m $5.6m 0.04% Reduced -908 -908
56 PUTNAM INVESTMENTS LLC 0.01% of their portfolio BOSTON, MA 113,107113.1k $5.3m $5.3m 0.01% Reduced -5.5k -5,505
57 Russell Investments Group, Ltd. 0.01% of their portfolio Seattle, WA 111,359111.4k $5.2m $5.2m 0.01% Reduced -5.4k -5,377
58 HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 0.02% of their portfolio Los Angeles, CA 104,800104.8k $4.9m $4.9m 0.02% Added +2.0k +2,040
59 FIRST TRUST ADVISORS LP 0.01% of their portfolio Wheaton, IL 104,035104.0k $4.9m $4.9m 0.01% Reduced -169 -169
60 Cubist Systematic Strategies, LLC 0.04% of their portfolio STAMFORD, CT 102,032102.0k $4.8m $4.8m 0.04% Added +52.1k +52,121
61 First Eagle Investment Management, LLC 0.01% of their portfolio NEW YORK, NY 95,79595.8k $4.5m $4.5m 0.01% Added +95.0k +95,000
62 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 94,73194.7k $4.5m $4.5m 0.00% Added +144 +144
63 HSBC HOLDINGS PLC 0.01% of their portfolio LONDON, X0 86,79786.8k $4.1m $4.1m 0.01% Added +78.9k +78,903
64 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio WEST SACRAMENTO, CA 83,75683.8k $3.9m $3.9m 0.01% Added +856 +856
65 BASSWOOD CAPITAL MANAGEMENT, L.L.C. 0.28% of their portfolio NEW YORK, NY 81,68981.7k $3.9m $3.9m 0.28% Unchanged
66 Squarepoint Ops LLC 0.02% of their portfolio NEW YORK, NY 77,90677.9k $3.7m $3.7m 0.02% Reduced -18.2k -18,241
67 BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.09% of their portfolio HOUSTON, TX 75,85075.8k $3.6m $3.6m 0.09% New
68 CW Advisors, LLC 0.09% of their portfolio BOSTON, MA 75,40075.4k $3.6m $3.6m 0.09% Reduced -13.1k -13,147
69 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 74,60774.6k $3.5m $3.5m 0.00% Added +18.8k +18,816
70 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.03% of their portfolio HARRISBURG, PA 69,76969.8k $3.3m $3.3m 0.03% Added +10.4k +10,365
71 MARTIN & CO INC /TN/ 0.85% of their portfolio Knoxville, TN 68,46268.5k $3.2m $3.2m 0.85% Added +2.0k +1,964
72 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 67,77767.8k $3.2m $3.2m 0.00% Reduced -264 -264
73 Thrivent Financial for Lutherans 0.01% of their portfolio Minneapolis, MN 66,86966.9k $3.2m $3.2m 0.01% Reduced -228.7k -228,729
74 CANADA LIFE ASSURANCE Co 0.01% of their portfolio WINNIPEG, A2 66,28866.3k $3.1m $3.1m 0.01% Reduced -7.0k -7,027
75 River Oaks Capital LLC 3.40% of their portfolio Wayzata, MN 63,30063.3k $3.0m $3.0m 3.40% Unchanged
76 GAMCO INVESTORS, INC. ET AL 0.03% of their portfolio GREENWICH, CT 63,00063.0k $3.0m $3.0m 0.03% Reduced -7.0k -7,000
77 TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY 0.03% of their portfolio FRANKFORT, KY 61,13261.1k $2.9m $2.9m 0.03% Added +39.0k +38,995
78 AXA S.A. 0.01% of their portfolio PARIS, I0 59,80059.8k $2.8m $2.8m 0.01% New
79 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 55,86155.9k $2.6m $2.6m 0.00% Added +2.6k +2,587
80 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 54,48854.5k $2.6m $2.6m 0.00% Added +1.9k +1,883
81 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 52,59652.6k $2.5m $2.5m 0.00% First filing
82 State of Tennessee, Department of Treasury 0.01% of their portfolio NASHVILLE, TN 51,32051.3k $2.4m $2.4m 0.01% Unchanged
83 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 47,14647.1k $2.2m $2.2m 0.00% Added +13.5k +13,481
84 State of Alaska, Department of Revenue 0.03% of their portfolio JUNEAU, AK 45,39445.4k $2.1m $2.1m 0.03% Added +211 +211
85 Cutler Capital Management, LLC 0.87% of their portfolio WORCESTER, MA 44,87444.9k $2.1m $2.1m 0.87% Reduced -152 -152
86 E. Ohman J:or Asset Management AB 0.09% of their portfolio STOCKHOLM, V7 44,76944.8k $2.1m $2.1m 0.09% Reduced -5.5k -5,484
87 State of New Jersey Common Pension Fund D 0.01% of their portfolio TRENTON, NJ 44,22544.2k $2.1m $2.1m 0.01% Reduced -7.2k -7,245
88 TEXAS PERMANENT SCHOOL FUND CORP 0.03% of their portfolio AUSTIN, TX 43,82743.8k $2.1m $2.1m 0.03% Reduced -3.1k -3,067
89 YOUSIF CAPITAL MANAGEMENT, LLC 0.03% of their portfolio BLOOMFIELD HILLS, MI 41,37541.4k $2.0m $2.0m 0.03% Reduced -11.3k -11,340
90 NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio ALBANY, NY 40,56940.6k $1.9m $1.9m 0.00% Reduced -600 -600
91 COMERICA BANK 0.01% of their portfolio DALLAS, TX 38,61238.6k $1.9m $1.9m 0.01% Reduced -11.4k -11,443
92 MONTAG A & ASSOCIATES INC 0.12% of their portfolio ATLANTA, GA 37,98838.0k $1.8m $1.8m 0.12% Unchanged
93 ALGERT GLOBAL LLC 0.10% of their portfolio SAN FRANCISCO, CA 36,54536.5k $1.7m $1.7m 0.10% Unchanged
94 AMERICAN INTERNATIONAL GROUP, INC. 0.01% of their portfolio New York, NY 35,90435.9k $1.7m $1.7m 0.01% Reduced -281 -281
95 PDT Partners, LLC 0.27% of their portfolio New York, NY 34,80134.8k $1.6m $1.6m 0.27% Reduced -11.6k -11,555
96 MetLife Investment Management, LLC 0.01% of their portfolio Whippany, NJ 34,51234.5k $1.6m $1.6m 0.01% Reduced -829 -829
97 LOS ANGELES CAPITAL MANAGEMENT LLC 0.01% of their portfolio LOS ANGELES, CA 33,12033.1k $1.6m $1.6m 0.01% Reduced -1.8k -1,800
98 UBS Group AG 0.00% of their portfolio ZURICH, V8 32,96533.0k $1.6m $1.6m 0.00% Added +5.7k +5,719
99 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 32,52132.5k $1.5m $1.5m 0.00% Added +3.5k +3,502
100 JCSD Capital, LLC 2.06% of their portfolio Walnut Creek, CA 32,18032.2k $1.5m $1.5m 2.06% Reduced -12.0k -12,000