Vault-13

ARES CAPITAL CORP ARCC

COM · Common Stock · CUSIP 04010L103 · ISIN US04010L1035

660 institutional holders -2 vs Q2 2023
167,055,346167.1m shares reported held*
29.3% of all shares outstanding*
$3.3bnreported value*
53 new 264 added 196 reduced 53 sold out net bought ≈ $44.0m (+2.3m 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 ($1.9m this quarter). Holder counts are more reliable. Shares outstanding: 569.4m as of 2023-10-24, 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 ≈ $19.47. Options: 18 managers hold calls ($69.6m notional), 18 hold puts ($138.3m).

Trends to Q3 2023

Institutional holders

Managers reporting a position, each quarter

0250500750Q3 22: 633Q4 22: 648Q1 23: 642Q2 23: 662Q3 23: 660660Q3 22Q4 22Q1 23Q2 23Q3 23
Numbers
QuarterHolders
Q3 2022633
Q4 2022648
Q1 2023642
Q2 2023662
Q3 2023660

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
4000400Q4 22: 340 bought or addedQ4 22: 221 cut or sold outQ4 22Q1 23: 329 bought or addedQ1 23: 232 cut or sold outQ1 23Q2 23: 310 bought or addedQ2 23: 248 cut or sold outQ2 23Q3 23: 317 bought or addedQ3 23: 249 cut or sold outQ3 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022340221
Q1 2023329232
Q2 2023310248
Q3 2023317249

Calls vs puts

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

CallsPuts
$0$100m$200m$300mQ4 22 calls: $50.7mQ4 22 puts: $218.9mQ4 22P/C 4.32Q1 23 calls: $65.7mQ1 23 puts: $204.5mQ1 23P/C 3.11Q2 23 calls: $63.1mQ2 23 puts: $124.2mQ2 23P/C 1.97Q3 23 calls: $69.6mQ3 23 puts: $138.3mQ3 23P/C 1.99
Numbers
QuarterCallsPutsP/C
Q4 2022$50.7m$218.9m4.32
Q1 2023$65.7m$204.5m3.11
Q2 2023$63.1m$124.2m1.97
Q3 2023$69.6m$138.3m1.99

Biggest buyers

TWO SIGMA ADVISERS, LP Added +2,153,500+2.2m
TWO SIGMA INVESTMENTS, LP Added +2,099,026+2.1m
OSAIC HOLDINGS, INC. Added +810,270+810.3k
VAN ECK ASSOCIATES CORP Added +708,568+708.6k
MORGAN STANLEY Added +656,721+656.7k
TUDOR INVESTMENT CORP ET AL New +613,888+613.9k
Connor, Clark & Lunn Investment Management Ltd. Added +579,582+579.6k
Allen Investment Management, LLC Added +532,958+533.0k
BANK OF AMERICA CORP /DE/ Added +442,411+442.4k
Clearstead Advisors, LLC Added +419,160+419.2k

Biggest sellers

Enstar Group LTD Sold out -2,773,811-2.8m
BlackRock Inc. Reduced -1,339,824-1.3m
WELLS FARGO & COMPANY/MN Reduced -586,913-586.9k
MILLENNIUM MANAGEMENT LLC Reduced -547,017-547.0k
CIBC Private Wealth Group LLC Reduced -490,949-490.9k
MARSHALL WACE, LLP Sold out -486,912-486.9k
OMERS ADMINISTRATION Corp Reduced -476,147-476.1k
Bank of New York Mellon Corp Reduced -437,457-437.5k
BAILLIE GIFFORD & CO Reduced -346,765-346.8k
UBS Group AG Reduced -234,632-234.6k

Biggest calls

CITADEL ADVISORS LLC Reduced $22.3m1.1m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $14.2m731.5k shares
Twin Tree Management, LP Added $8.5m434.5k shares
Walleye Trading LLC Added $5.3m271.5k shares
GROUP ONE TRADING LLC Reduced $3.0m155.7k shares
SIMPLEX TRADING, LLC Reduced $2.9m150.8k shares
Jefferies Financial Group Inc. Unchanged $2.1m110.0k shares
PEAK6 Investments LLC Added $2.1m109.2k shares
MILLENNIUM MANAGEMENT LLC Reduced $1.9m100.0k shares
Caption Management, LLC Unchanged $1.9m100.0k shares

Biggest puts

Parallax Volatility Advisers, L.P. Added $36.0m1.9m shares
MILLENNIUM MANAGEMENT LLC Added $29.8m1.5m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $11.6m594.8k shares
UBS Group AG New $10.1m520.0k shares
Centiva Capital, LP New $9.7m500.0k shares
NOMURA HOLDINGS INC Added $9.7m499.6k shares
WELLS FARGO & COMPANY/MN Unchanged $5.8m300.0k shares
Quinn Opportunity Partners LLC Added $5.2m267.0k shares
WOLVERINE TRADING, LLC Added $5.2m266.3k shares
CITADEL ADVISORS LLC Added $4.5m231.2k 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.

Insider purchases and sales in Q3 2023

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
404Q4 21: 0 buyingQ4 21: 1 sellingQ1 22: 1 buyingQ1 22: 0 sellingQ1 22Q2 22: 4 buyingQ2 22: 0 sellingQ3 22: 2 buyingQ3 22: 0 sellingQ3 22Q4 22: 0 buyingQ4 22: 0 sellingQ1 23: 1 buyingQ1 23: 0 sellingQ1 23Q2 23: 1 buyingQ2 23: 0 sellingQ3 23: 0 buyingQ3 23: 0 sellingQ3 23
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q4 20210—1$515.1k—
Q1 20221$120.3k0——
Q2 20224$6.5m0——
Q3 20222$719.8k0——
Q4 20220—0——
Q1 20231$104.8k0——
Q2 20231$267.6k0——
Q3 20230—0——

None reported in Q3 2023.

Holders, Q3 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 ROYAL BANK OF CANADA 0.07% of their portfolio TORONTO, A6 12,167,30712.2m $236.9m $236.9m 0.07% Added +167.8k +167,831
2 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 11,907,34511.9m $231.8m $231.8m 0.02% Added +656.7k +656,721
3 VAN ECK ASSOCIATES CORP 0.32% of their portfolio NEW YORK, NY 7,441,2567.4m $144.9m $144.9m 0.32% Added +708.6k +708,568
4 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 5,773,9595.8m $112.4m $112.4m 0.01% Added +442.4k +442,411
5 TWO SIGMA ADVISERS, LP 0.24% of their portfolio NEW YORK, NY 4,834,0004.8m $94.1m $94.1m 0.24% Added +2.2m +2,153,500
6 TWO SIGMA INVESTMENTS, LP 0.25% of their portfolio NEW YORK, NY 4,582,2234.6m $89.2m $89.2m 0.25% Added +2.1m +2,099,026
7 Legal & General Group Plc 0.03% of their portfolio London, X0 4,411,0714.4m $85.9m $85.9m 0.03% Reduced -40.3k -40,298
8 OMERS ADMINISTRATION Corp 1.28% of their portfolio TORONTO, A6 4,354,9004.4m $84.8m $84.8m 1.28% Reduced -476.1k -476,147
9 CONFLUENCE INVESTMENT MANAGEMENT LLC 1.29% of their portfolio ST. LOUIS, MO 4,293,3604.3m $83.6m $83.6m 1.29% Reduced -155.7k -155,733
10 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 3,786,5683.8m $73.7m $73.7m 0.02% Reduced -32.9k -32,856
11 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 3,051,6223.1m $59.4m $59.4m 0.02% Reduced -586.9k -586,913
12 Advisors Capital Management, LLC 1.50% of their portfolio RIDGEWOOD, NJ 3,043,2093.0m $59.3m $59.3m 1.50% Added +23.3k +23,276
13 LPL Financial LLC 0.04% of their portfolio FORT MILL, SC 2,916,6232.9m $56.8m $56.8m 0.04% Added +318.4k +318,444
14 UBS Group AG 0.02% of their portfolio ZURICH, V8 2,351,1472.4m $45.8m $45.8m 0.02% Reduced -234.6k -234,632
15 Border to Coast Pensions Partnership Ltd 1.12% of their portfolio LEEDS, X0 2,145,6482.1m $42.1m $42.1m 1.12% Reduced -150.0k -150,000
16 STIFEL FINANCIAL CORP 0.06% of their portfolio ST. LOUIS, MO 2,120,2952.1m $41.3m $41.3m 0.06% Added +48.1k +48,149
17 OSAIC HOLDINGS, INC. 0.06% of their portfolio SCOTTSDALE, AZ 2,102,2882.1m $40.9m $40.9m 0.06% Added +810.3k +810,270
18 CCLA Investment Management 0.74% of their portfolio LONDON, X0 2,023,5472.0m $39.4m $39.4m 0.74% Unchanged
19 Sound Income Strategies, LLC 3.10% of their portfolio FT LAUDERDALE, FL 1,887,9081.9m $36.8m $36.8m 3.10% Added +53.8k +53,783
20 ARES MANAGEMENT LLC 0.92% of their portfolio LOS ANGELES, CA 1,829,5391.8m $35.6m $35.6m 0.92% Reduced -233.6k -233,649
21 LSV ASSET MANAGEMENT 0.08% of their portfolio CHICAGO, IL 1,797,4471.8m $35.0m $35.0m 0.08% Reduced -42.2k -42,215
22 Progeny 3, Inc. 4.75% of their portfolio KIRKLAND, WA 1,789,1411.8m $34.8m $34.8m 4.75% Added +43.0k +43,046
23 BlackRock Inc. 0.00% of their portfolio New York, NY 1,479,4571.5m $28.8m $28.8m 0.00% Reduced -1.3m -1,339,824
24 BRUNI J V & CO /CO 3.81% of their portfolio COLORADO SPRINGS, CO 1,392,2021.4m $27.1m $27.1m 3.81% Added +15.7k +15,652
25 NOMURA ASSET MANAGEMENT CO LTD 0.13% of their portfolio TOKYO, M0 1,378,8821.4m $26.8m $26.8m 0.13% Added +59.8k +59,808
26 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 1,370,6481.4m $26.7m $26.7m 0.00% Added +70.8k +70,797
27 Gilbert & Cook, Inc. 3.99% of their portfolio WEST DES MOINES, IA 1,299,1911.3m $25.3m $25.3m 3.99% Added +59.7k +59,708
28 Rockefeller Capital Management L.P. 0.10% of their portfolio NEW YORK, NY 1,293,1631.3m $25.2m $25.2m 0.10% Reduced -34.0k -33,982
29 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 1,284,6381.3m $25.0m $25.0m 0.01% Added +230.2k +230,223
30 Clearbridge Investments, LLC 0.02% of their portfolio NEW YORK, NY 1,163,4581.2m $22.7m $22.7m 0.02% Reduced -1.7k -1,720
31 STEPHENS INC /AR/ 0.41% of their portfolio LITTLE ROCK, AR 1,094,8431.1m $21.3m $21.3m 0.41% Reduced -46.8k -46,822
32 Allen Investment Management, LLC 0.30% of their portfolio NEW YORK, NY 1,054,6871.1m $20.5m $20.5m 0.30% Added +533.0k +532,958
33 CAPITAL ADVISORS INC/OK 0.54% of their portfolio TULSA, OK 1,050,2071.1m $20.4m $20.4m 0.54% Added +32.1k +32,102
34 BAILLIE GIFFORD & CO 0.02% of their portfolio EDINBURGH, X0 1,045,4711.0m $20.4m $20.4m 0.02% Reduced -346.8k -346,765
35 McGowan Group Asset Management, Inc. 3.21% of their portfolio DALLAS, TX 1,044,1581.0m $20.3m $20.3m 3.21% Added +337 +337
36 1832 Asset Management L.P. 0.04% of their portfolio TORONTO, A6 990,059990.1k $19.3m $19.3m 0.04% Added +16.4k +16,410
37 J.P. Morgan Private Wealth Advisors LLC 0.05% of their portfolio SAN FRANCISCO, CA 897,574897.6k $17.5m $17.5m 0.05% Reduced -3.2k -3,168
38 Cliffwater LLC 5.60% of their portfolio MARINA DEL REY, CA 878,503878.5k $17.1m $17.1m 5.60% Added +191.3k +191,297
39 Clearstead Advisors, LLC 0.48% of their portfolio CLEVELAND, OH 851,918851.9k $16.6m $16.6m 0.48% Added +419.2k +419,160
40 Janney Montgomery Scott LLC 0.06% of their portfolio PHILADELPHIA, PA 851,426851.4k $16.6m $16.6m 0.06% Added +42.5k +42,469
41 HighTower Advisors, LLC 0.03% of their portfolio CHICAGO, IL 851,377851.4k $16.6m $16.6m 0.03% Reduced -37.3k -37,255
42 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 820,796820.8k $16.0m $16.0m 0.02% Reduced -547.0k -547,017
43 Muzinich & Co., Inc. 13.89% of their portfolio NEW YORK, NY 813,262813.3k $15.8m $15.8m 13.89% Reduced -35.0k -34,975
44 COMMONWEALTH EQUITY SERVICES, LLC 0.03% of their portfolio WALTHAM, MA 806,476806.5k $15.7m $15.7m 0.03% Reduced -4.7k -4,655
45 Naviter Wealth, LLC 3.75% of their portfolio LITTLE ROCK, AR 798,283798.3k $15.5m $15.5m 3.75% Added +78.0k +77,961
46 Sumitomo Mitsui Trust Group, Inc. 0.01% of their portfolio CHIYODA-KU, TOKYO, M0 798,065798.1k $15.5m $15.5m 0.01% Reduced -35.0k -34,975
47 Cambridge Investment Research Advisors, Inc. 0.07% of their portfolio FAIRFIELD, IA 792,143792.1k $15.4m $15.4m 0.07% Added +18.7k +18,695
48 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 784,424784.4k $15.3m $15.3m 0.00% Added +96.9k +96,942
49 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 763,739763.7k $14.9m $14.9m 0.00% Reduced -437.5k -437,457
50 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 752,018752.0k $14.6m $14.6m 0.00% Added +118.3k +118,294
51 RAYMOND JAMES & ASSOCIATES 0.01% of their portfolio ST PETERSBURG, FL 738,614738.6k $14.4m $14.4m 0.01% Added +4.1k +4,110
52 D.A. DAVIDSON & CO. 0.15% of their portfolio GREAT FALLS, MT 729,271729.3k $14.2m $14.2m 0.15% Added +118.0k +117,953
53 Connor, Clark & Lunn Investment Management Ltd. 0.07% of their portfolio VANCOUVER, A1 699,265699.3k $13.6m $13.6m 0.07% Added +579.6k +579,582
54 Edgemoor Investment Advisors, Inc. 1.58% of their portfolio BETHESDA, MD 685,332685.3k $13.3m $13.3m 1.58% Added +4.9k +4,897
55 TCW GROUP INC 0.17% of their portfolio LOS ANGELES, CA 684,887684.9k $13.3m $13.3m 0.17% Unchanged
56 Baird Financial Group, Inc. 0.03% of their portfolio MILWAUKEE, WI 658,425658.4k $12.8m $12.8m 0.03% Added +43.6k +43,587
57 LGT CAPITAL PARTNERS LTD. 0.44% of their portfolio PFAEFFIKON, V8 630,000630.0k $12.3m $12.3m 0.44% Unchanged
58 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 620,220620.2k $12.1m $12.1m 0.01% Added +79.5k +79,450
59 NEUBERGER BERMAN GROUP LLC 0.01% of their portfolio NEW YORK, NY 615,206615.2k $12.0m $12.0m 0.01% Added +854 +854
60 TUDOR INVESTMENT CORP ET AL 0.18% of their portfolio STAMFORD, CT 613,888613.9k $12.0m $12.0m 0.18% New
61 CHARTWELL INVESTMENT PARTNERS, LLC 0.46% of their portfolio BERYWN, PA 613,187613.2k $11.9m $11.9m 0.46% Reduced -1.2k -1,208
62 NEW SOUTH CAPITAL MANAGEMENT INC 0.56% of their portfolio MEMPHIS, TN 603,997604.0k $11.8m $11.8m 0.56% Reduced -4.6k -4,584
63 Partners Group Holding AG 1.06% of their portfolio BAAR-ZUG, V8 580,302580.3k $11.3m $11.3m 1.06% Added +13.2k +13,225
64 MCKINLEY CAPITAL MANAGEMENT LLC 1.58% of their portfolio ANCHORAGE, AK 579,201579.2k $11.3m $11.3m 1.58% Reduced -21.5k -21,493
65 EVERGREEN CAPITAL MANAGEMENT LLC 0.43% of their portfolio Bellevue, WA 504,173504.2k $9.8m $9.8m 0.43% Added +2.8k +2,840
66 CIBC Private Wealth Group LLC 0.02% of their portfolio ATLANTA, GA 491,571491.6k $9.6m $9.6m 0.02% Reduced -490.9k -490,949
67 Skandinaviska Enskilda Banken AB (publ) 0.06% of their portfolio STOCKHOLM, V7 481,405481.4k $9.4m $9.4m 0.06% Reduced -65.8k -65,820
68 Bell Bank 1.01% of their portfolio FARGO, ND 474,249474.2k $9.2m $9.2m 1.01% Added +4.9k +4,889
69 EMFO, LLC 8.47% of their portfolio WESTON, FL 461,867461.9k $9.0m $9.0m 8.47% Unchanged
70 Merit Financial Group, LLC 0.29% of their portfolio ALPHARETTA, GA 454,278454.3k $8.8m $8.8m 0.29% Reduced -943 -943
71 Graypoint LLC 0.83% of their portfolio Albany, NY 452,140452.1k $8.8m $8.8m 0.83% Reduced -1 -1
72 Qube Research & Technologies Ltd 0.03% of their portfolio LONDON, X0 449,212449.2k $8.7m $8.7m 0.03% Added +182.9k +182,949
73 CREDIT SUISSE AG/ 0.01% of their portfolio ZURICH, V8 442,778442.8k $8.6m $8.6m 0.01% Reduced -5.4k -5,400
74 PALISADE CAPITAL MANAGEMENT, LP 0.24% of their portfolio FORT LEE, NJ 436,220436.2k $8.5m $8.5m 0.24% Reduced -800 -800
75 Raymond James Financial Services Advisors, Inc. 0.02% of their portfolio ST. PETERSBURG, FL 430,678430.7k $8.4m $8.4m 0.02% Added +50.7k +50,717
76 Greenwich Investment Management, Inc. 6.47% of their portfolio NORWALK, CT 419,708419.7k $8.2m $8.2m 6.47% Reduced -53.3k -53,345
77 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 391,687391.7k $7.6m $7.6m 0.00% Added +25.4k +25,422
78 SFMG, LLC 0.78% of their portfolio PLANO, TX 388,032388.0k $7.6m $7.6m 0.78% Added +12.8k +12,766
79 Chicago Partners Investment Group LLC 0.37% of their portfolio CHICAGO, IL 369,034369.0k $6.9m $6.9m 0.37% Added +13.6k +13,606
80 Advisors Asset Management, Inc. 0.15% of their portfolio Monument, CO 367,212367.2k $7.1m $7.1m 0.15% Added +12.6k +12,597
81 Steward Partners Investment Advisory, LLC 0.11% of their portfolio STAMFORD, CT 363,862363.9k $7.1m $7.1m 0.11% Added +46.7k +46,747
82 CANADA LIFE ASSURANCE Co 0.02% of their portfolio WINNIPEG, A2 351,815351.8k $6.9m $6.9m 0.02% Reduced -154.1k -154,060
83 Baltimore-Washington Financial Advisors, Inc. 0.56% of their portfolio Columbia, MD 351,789351.8k $6.8m $6.8m 0.56% Added +5.9k +5,909
84 FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ 0.05% of their portfolio Cincinnati, OH 351,052351.1k $6.8m $6.8m 0.05% Reduced -5.9k -5,900
85 OPPENHEIMER & CO INC 0.14% of their portfolio NEW YORK, NY 338,448338.4k $6.6m $6.6m 0.14% Added +16.6k +16,623
86 Northeast Financial Consultants Inc 0.41% of their portfolio WESTPORT, CT 334,126334.1k $6.5m $6.5m 0.41% Added +113.0k +113,048
87 INDEPENDENT FINANCIAL GROUP, LLC 0.38% of their portfolio SAN DIEGO, CA 298,534298.5k $5.8m $5.8m 0.38% Reduced -2.0k -1,970
88 ROMANO BROTHERS AND COMPANY 0.90% of their portfolio EVANSTON, IL 296,519296.5k $5.8m $5.8m 0.90% Added +2.2k +2,169
89 Mariner, LLC 0.02% of their portfolio Overland Park, KS 296,431296.4k $5.8m $5.8m 0.02% Added +15.8k +15,815
90 Creative Planning 0.01% of their portfolio OVERLAND PARK, KS 291,679291.7k $5.7m $5.7m 0.01% Added +8.4k +8,352
91 Private Advisor Group, LLC 0.05% of their portfolio MORRISTOWN, NJ 287,425287.4k $5.6m $5.6m 0.05% Reduced -2.1k -2,136
92 SALEM INVESTMENT COUNSELORS INC 0.21% of their portfolio WINSTON-SALEM, NC 286,460286.5k $5.6m $5.6m 0.21% Added +31.0k +31,008
93 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.02% of their portfolio PLYMOUTH, MN 285,601285.6k $5.6m $5.6m 0.02% New
94 AE Wealth Management LLC 0.03% of their portfolio TOPEKA, KS 283,402283.4k $5.5m $5.5m 0.03% Reduced -45.5k -45,537
95 Cetera Investment Advisers 0.05% of their portfolio SCHAUMBURG, IL 280,191280.2k $5.5m $5.5m 0.05% Added +28.4k +28,372
96 DAVENPORT & Co LLC 0.04% of their portfolio RICHMOND, VA 279,691279.7k $5.4m $5.4m 0.04% Reduced -12.9k -12,942
97 CAPTRUST FINANCIAL ADVISORS 0.02% of their portfolio RALEIGH, NC 273,357273.4k $5.3m $5.3m 0.02% Reduced -5.4k -5,365
98 Sargent Investment Group, LLC 1.24% of their portfolio BETHESDA, MD 263,535263.5k $5.1m $5.1m 1.24% Added +12.6k +12,621
99 Hilton Capital Management, LLC 0.67% of their portfolio Garden City, NY 260,090260.1k $5.1m $5.1m 0.67% Reduced -12.0k -12,003
100 Carnegie Investment Counsel 0.19% of their portfolio PEPPER PIKE, OH 252,285252.3k $4.9m $4.9m 0.19% Reduced -19.8k -19,838