Vault-13

BROOKFIELD CORP BN

CL A LTD VT SH · Common Stock · CUSIP 11271J107 · ISIN CA11271J1075

Asset management company based in Canada

855 institutional holders +34 vs Q1 2025
1,094,128,5521.1bn shares reported held*
$67.7bnreported value*
93 new 274 added 284 reduced 59 sold out net bought ≈ $1.5bn (+23.6m 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 ($717.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $61.90. Options: 20 managers hold calls ($135.6m notional), 16 hold puts ($101.7m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

05001kQ3 22: 3Q4 22: 632Q1 23: 617Q2 23: 603Q3 23: 615Q4 23: 672Q1 24: 683Q2 24: 696Q3 24: 750Q4 24: 823Q1 25: 821Q2 25: 855855Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 20223
Q4 2022632
Q1 2023617
Q2 2023603
Q3 2023615
Q4 2023672
Q1 2024683
Q2 2024696
Q3 2024750
Q4 2024823
Q1 2025821
Q2 2025855

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q3 23: 294 bought or addedQ3 23: 211 cut or sold outQ4 23: 259 bought or addedQ4 23: 308 cut or sold outQ4 23Q1 24: 286 bought or addedQ1 24: 282 cut or sold outQ2 24: 270 bought or addedQ2 24: 306 cut or sold outQ2 24Q3 24: 306 bought or addedQ3 24: 318 cut or sold outQ4 24: 319 bought or addedQ4 24: 309 cut or sold outQ4 24Q1 25: 350 bought or addedQ1 25: 345 cut or sold outQ2 25: 367 bought or addedQ2 25: 343 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023294211
Q4 2023259308
Q1 2024286282
Q2 2024270306
Q3 2024306318
Q4 2024319309
Q1 2025350345
Q2 2025367343

Calls vs puts

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

CallsPuts
$0$50m$100m$150mQ3 24 calls: $115.5mQ3 24 puts: $29.1mQ3 24P/C 0.25Q4 24 calls: $109.0mQ4 24 puts: $53.3mQ4 24P/C 0.49Q1 25 calls: $85.7mQ1 25 puts: $30.4mQ1 25P/C 0.35Q2 25 calls: $135.6mQ2 25 puts: $101.7mQ2 25P/C 0.75
Numbers
QuarterCallsPutsP/C
Q3 2024$115.5m$29.1m0.25
Q4 2024$109.0m$53.3m0.49
Q1 2025$85.7m$30.4m0.35
Q2 2025$135.6m$101.7m0.75

Biggest buyers

ROYAL BANK OF CANADA Added +80,868,202+80.9m
REGENTS OF THE UNIVERSITY OF CALIFORNIA Added +5,986,137+6.0m
LONE PINE CAPITAL LLC New +5,621,385+5.6m
CANADA PENSION PLAN INVESTMENT BOARD Added +3,727,628+3.7m
PICTON MAHONEY ASSET MANAGEMENT New +2,280,199+2.3m
NATIONAL BANK OF CANADA /FI/ Added +2,107,583+2.1m
GEODE CAPITAL MANAGEMENT, LLC Added +1,770,378+1.8m
GOLDMAN SACHS GROUP INC Added +1,767,189+1.8m
BANK OF NOVA SCOTIA Added +1,556,042+1.6m
Capital World Investors Added +1,346,298+1.3m

Biggest sellers

Brookfield Corp /ON/ Reduced -61,889,860-61.9m
EdgePoint Investment Group Inc. Reduced -4,861,283-4.9m
Select Equity Group, L.P. Reduced -2,366,260-2.4m
MANUFACTURERS LIFE INSURANCE COMPANY, THE Reduced -2,166,760-2.2m
Soroban Capital Partners LP Reduced -1,581,837-1.6m
Alberta Investment Management Corp Reduced -1,539,514-1.5m
VANGUARD GROUP INC Reduced -1,230,986-1.2m
Bank of New York Mellon Corp Reduced -1,185,816-1.2m
CIBC Asset Management Inc Reduced -1,092,206-1.1m
1832 Asset Management L.P. Reduced -916,848-916.8k

Biggest calls

TORONTO DOMINION BANK Added $28.6m461.8k shares
SIG North Trading, ULC Added $20.9m338.5k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $20.4m329.4k shares
NATIONAL BANK OF CANADA /FI/ Reduced $9.9m1.6k shares
ROYAL BANK OF CANADA Added $9.3m150.0k shares
CITADEL ADVISORS LLC Added $8.9m144.7k shares
SIMPLEX TRADING, LLC Added $8.0m129.0k shares
CAPITAL FUND MANAGEMENT S.A. Added $7.1m114.4k shares
Twin Tree Management, LP Added $5.4m86.9k shares
PEAK6 LLC New $3.7m60.0k shares

Biggest puts

MILLENNIUM MANAGEMENT LLC New $32.2m521.0k shares
Twin Tree Management, LP Added $23.6m381.6k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $14.3m231.0k shares
CAPITAL FUND MANAGEMENT S.A. Added $6.5m104.7k shares
SIG North Trading, ULC Added $5.3m85.7k shares
SIMPLEX TRADING, LLC Added $3.9m62.8k shares
CITADEL ADVISORS LLC Added $3.8m60.7k shares
WOLVERINE TRADING, LLC Added $2.8m45.1k shares
NATIONAL BANK OF CANADA /FI/ Reduced $2.4m390 shares
JANE STREET GROUP, LLC Added $2.0m31.9k 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 Q2 2025

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.

None reported in Q2 2025.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 ROYAL BANK OF CANADA 0.97% of their portfolio TORONTO, A6 161,110,236161.1m $10.0bn $10.0bn 0.97% Added +80.9m +80,868,202
2 Partners Value Investments L.P. 75.74% of their portfolio Hamilton, D0 120,937,304120.9m $7.5bn $7.5bn 75.74% Unchanged
3 Capital World Investors 0.60% of their portfolio LOS ANGELES, CA 66,689,57766.7m $4.1bn $4.1bn 0.60% Added +1.3m +1,346,298
4 VANGUARD GROUP INC 0.06% of their portfolio Valley Forge, PA 59,661,89159.7m $3.7bn $3.7bn 0.06% Reduced -1.2m -1,230,986
5 PRINCIPAL FINANCIAL GROUP INC 1.64% of their portfolio DES MOINES, IA 50,050,47450.1m $3.1bn $3.1bn 1.64% Reduced -508.9k -508,855
6 BANK OF MONTREAL /CAN/ 1.45% of their portfolio TORONTO, A6 46,507,39246.5m $2.9bn $2.9bn 1.45% Reduced -492.9k -492,859
7 Pershing Square Capital Management, L.P. 18.54% of their portfolio New York, NY 41,160,39741.2m $2.5bn $2.5bn 18.54% Added +155.7k +155,740
8 Brookfield Corp /ON/ 2.33% of their portfolio TORONTO, A6 31,007,38431.0m $1.9bn $1.9bn 2.33% Reduced -61.9m -61,889,860
9 TD Asset Management Inc 1.29% of their portfolio Toronto, A6 24,496,65024.5m $1.5bn $1.5bn 1.29% Reduced -87.7k -87,661
10 NATIONAL BANK OF CANADA /FI/ 1.41% of their portfolio MONTREAL, A8 21,151,70021.2m $1.3bn $1.3bn 1.41% Added +2.1m +2,107,583
11 AKRE CAPITAL MANAGEMENT LLC 11.64% of their portfolio Middleburg, VA 19,219,29019.2m $1.2bn $1.2bn 11.64% Added +125.3k +125,269
12 1832 Asset Management L.P. 1.99% of their portfolio TORONTO, A6 18,423,34618.4m $1.1bn $1.1bn 1.99% Reduced -916.8k -916,848
13 FIL Ltd 0.90% of their portfolio HAMILTON, D0 17,051,82617.1m $1.1bn $1.1bn 0.90% Reduced -530.7k -530,701
14 NORGES BANK 0.13% of their portfolio OSLO, Q8 16,802,52916.8m $1.0bn $1.0bn 0.13% Reduced -412.7k -412,708
15 FIRST MANHATTAN CO. LLC. 2.87% of their portfolio NEW YORK, NY 16,456,62716.5m $1.0bn $1.0bn 2.87% Reduced -275.8k -275,752
16 MACKENZIE FINANCIAL CORP 1.31% of their portfolio TORONTO ONTARIO, A6 16,319,25616.3m $1.0bn $1.0bn 1.31% Added +249.9k +249,913
17 JARISLOWSKY, FRASER Ltd 5.47% of their portfolio MONTREAL, A8 15,506,52815.5m $957.8m $957.8m 5.47% Reduced -338.9k -338,907
18 CIBC Asset Management Inc 2.69% of their portfolio TORONTO, Z4 13,840,25513.8m $857.3m $857.3m 2.69% Reduced -1.1m -1,092,206
19 BANK OF NOVA SCOTIA 1.68% of their portfolio TORONTO, A6 13,263,18513.3m $820.6m $820.6m 1.68% Added +1.6m +1,556,042
20 REGENTS OF THE UNIVERSITY OF CALIFORNIA 43.68% of their portfolio OAKLAND, CA 11,972,27412.0m $740.5m $740.5m 43.68% Added +6.0m +5,986,137
21 CIBC WORLD MARKET INC. 1.50% of their portfolio TORONTO, A6 10,955,27911.0m $677.6m $677.6m 1.50% Reduced -660.4k -660,442
22 GEODE CAPITAL MANAGEMENT, LLC 0.05% of their portfolio BOSTON, MA 10,882,12210.9m $679.9m $679.9m 0.05% Added +1.8m +1,770,378
23 GOLDMAN SACHS GROUP INC 0.09% of their portfolio NEW YORK, NY 9,466,3679.5m $585.5m $585.5m 0.09% Added +1.8m +1,767,189
24 DAVENPORT & Co LLC 3.10% of their portfolio RICHMOND, VA 9,071,9699.1m $559.9m $559.9m 3.10% Reduced -25.1k -25,055
25 FMR LLC 0.03% of their portfolio BOSTON, MA 8,823,5408.8m $545.9m $545.9m 0.03% Reduced -655.0k -655,027
26 Federation des caisses Desjardins du Quebec 2.36% of their portfolio LEVIS, A8 8,718,8688.7m $538.4m $538.4m 2.36% Added +207.0k +206,986
27 Markel Group Inc. 4.56% of their portfolio Glen Allen, VA 8,715,7418.7m $539.1m $539.1m 4.56% Unchanged
28 BANK OF AMERICA CORP /DE/ 0.04% of their portfolio CHARLOTTE, NC 7,895,0987.9m $488.3m $488.3m 0.04% Added +608.7k +608,668
29 Soroban Capital Partners LP 4.55% of their portfolio New York, NY 7,534,5347.5m $466.0m $466.0m 4.55% Reduced -1.6m -1,581,837
30 SCOTIA CAPITAL INC. 2.11% of their portfolio TORONTO, A6 7,226,3237.2m $446.2m $446.2m 2.11% Added +280.1k +280,062
31 Legal & General Group Plc 0.11% of their portfolio London, X0 7,048,7627.0m $435.4m $435.4m 0.11% Reduced -215.7k -215,660
32 MORGAN STANLEY 0.03% of their portfolio NEW YORK, NY 6,745,5926.7m $417.2m $417.2m 0.03% Added +164.5k +164,523
33 CANADA PENSION PLAN INVESTMENT BOARD 0.35% of their portfolio TORONTO ONTARIO, A6 6,540,6316.5m $405.1m $405.1m 0.35% Added +3.7m +3,727,628
34 TORONTO DOMINION BANK 0.75% of their portfolio TORONTO, ONTARIO, A6 5,647,0205.6m $349.7m $349.7m 0.75% Reduced -215.0k -215,043
35 LONE PINE CAPITAL LLC 2.52% of their portfolio GREENWICH, CT 5,621,3855.6m $347.7m $347.7m 2.52% New
36 JPMORGAN CHASE & CO 0.02% of their portfolio NEW YORK, NY 5,385,5895.4m $333.1m $333.1m 0.02% Reduced -92.8k -92,778
37 Beutel, Goodman & Co Ltd. 1.77% of their portfolio TORONTO, A6 5,043,1315.0m $311.5m $311.5m 1.77% Reduced -168.8k -168,803
38 NEUBERGER BERMAN GROUP LLC 0.23% of their portfolio NEW YORK, NY 4,904,0474.9m $303.3m $303.3m 0.23% Reduced -49.4k -49,430
39 BESSEMER GROUP INC 0.48% of their portfolio WOODBRIDGE, NJ 4,828,8674.8m $298.7m $298.7m 0.48% Reduced -12.9k -12,876
40 Connor, Clark & Lunn Investment Management Ltd. 1.05% of their portfolio VANCOUVER, A1 4,815,6294.8m $298.2m $298.2m 1.05% Reduced -620.7k -620,685
41 BAILLIE GIFFORD & CO 0.22% of their portfolio EDINBURGH, X0 4,764,3934.8m $294.7m $294.7m 0.22% Reduced -51.7k -51,689
42 Third Point LLC 3.79% of their portfolio NEW YORK, NY 4,675,0004.7m $289.1m $289.1m 3.79% Added +435.0k +435,000
43 Aristotle Capital Management, LLC 0.53% of their portfolio LOS ANGELES, CA 4,486,8024.5m $277.3m $277.3m 0.53% Reduced -2.8k -2,817
44 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.22% of their portfolio Toronto, A6 3,988,6584.0m $246.2m $246.2m 0.22% Reduced -2.2m -2,166,760
45 Invesco Ltd. 0.04% of their portfolio ATLANTA, GA 3,816,8563.8m $236.1m $236.1m 0.04% Added +21.7k +21,653
46 TD Waterhouse Canada Inc. 1.63% of their portfolio TORONTO, A6 3,671,2543.7m $227.1m $227.1m 1.63% Added +165.1k +165,135
47 COOKE & BIELER LP 2.18% of their portfolio PHILADELPHIA, PA 3,517,1963.5m $217.5m $217.5m 2.18% Reduced -311.7k -311,687
48 Corient Private Wealth LP 0.27% of their portfolio MIAMI, FL 3,231,7573.2m $199.9m $199.9m 0.27% Added +80.4k +80,396
49 WELLS FARGO & COMPANY/MN 0.04% of their portfolio SAN FRANCISCO, CA 3,130,4793.1m $193.6m $193.6m 0.04% Reduced -41.8k -41,792
50 CI INVESTMENTS INC. 0.71% of their portfolio TORONTO, Z4 3,074,3283.1m $190.1m $190.1m 0.71% Reduced -30.0k -30,023
51 CHECK CAPITAL MANAGEMENT INC/CA 12.00% of their portfolio COSTA MESA, CA 2,943,5912.9m $182.1m $182.1m 12.00% Reduced -50.4k -50,424
52 Alberta Investment Management Corp 1.42% of their portfolio EDMONTON, A0 2,919,2682.9m $180.8m $180.8m 1.42% Reduced -1.5m -1,539,514
53 Scharf Investments, LLC 5.03% of their portfolio LOS GATOS, CA 2,823,1532.8m $174.6m $174.6m 5.03% Reduced -701.8k -701,774
54 Fenimore Asset Management Inc 3.20% of their portfolio Cobleskill, NY 2,592,6452.6m $160.4m $160.4m 3.20% Reduced -4.9k -4,857
55 BAMCO INC /NY/ 0.42% of their portfolio NEW YORK, NY 2,510,0752.5m $155.2m $155.2m 0.42% Added +493.2k +493,211
56 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.05% of their portfolio Boston, MA 2,502,2812.5m $154.8m $154.8m 0.05% Reduced -22.6k -22,559
57 CIBC Private Wealth Group LLC 0.27% of their portfolio ATLANTA, GA 2,485,5062.5m $153.7m $153.7m 0.27% Added +13.5k +13,501
58 AGF MANAGEMENT LTD 0.69% of their portfolio TORONTO, A6 2,438,2412.4m $151.4m $151.4m 0.69% Added +164.1k +164,124
59 MUFG SECURITIES (CANADA), LTD. 4.57% of their portfolio NEW YORK, NY 2,431,2722.4m $150.3m $150.3m 4.57% Added +243.2k +243,193
60 NOVO HOLDINGS A/S 10.18% of their portfolio HELLERUP, G7 2,330,8302.3m $144.2m $144.2m 10.18% Unchanged
61 OMERS ADMINISTRATION Corp 1.13% of their portfolio TORONTO, A6 2,317,7892.3m $143.4m $143.4m 1.13% Unchanged
62 PICTON MAHONEY ASSET MANAGEMENT 1.98% of their portfolio Toronto, A6 2,280,1992.3m $140.6m $140.6m 1.98% New
63 Cardinal Capital Management, Inc. 4.28% of their portfolio WINNIPEG, A2 2,208,7642.2m $136.7m $136.7m 4.28% Reduced -1.4k -1,410
64 DEUTSCHE BANK AG\ 0.05% of their portfolio FRANKFURT AM MAIN, 2M 2,127,2112.1m $131.6m $131.6m 0.05% Added +239.8k +239,827
65 UBS Group AG 0.03% of their portfolio ZURICH, V8 2,039,8282.0m $126.2m $126.2m 0.03% Added +37.8k +37,800
66 Caisse de depot et placement du Quebec 0.27% of their portfolio Montreal, A8 2,009,8932.0m $124.1m $124.1m 0.27% Added +353.3k +353,317
67 Clearbridge Investments, LLC 0.10% of their portfolio NEW YORK, NY 2,001,5012.0m $123.8m $123.8m 0.10% Reduced -121.3k -121,318
68 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.02% of their portfolio NEW YORK, NY 1,947,6601.9m $120.5m $120.5m 0.02% Added +133.0k +133,028
69 MCDONALD CAPITAL INVESTORS INC/CA 7.54% of their portfolio ORINDA, CA 1,941,0921.9m $120.1m $120.1m 7.54% Reduced -61.4k -61,391
70 Cannell & Spears LLC 2.33% of their portfolio NEW YORK, NY 1,865,2891.9m $115.4m $115.4m 2.33% Reduced -50.8k -50,772
71 GUARDIAN CAPITAL LP 3.80% of their portfolio TORONTO, A6 1,739,7261.7m $107.5m $107.5m 3.80% Added +78.2k +78,242
72 Dixon Mitchell Investment Counsel Inc. 4.11% of their portfolio VANCOUVER, A1 1,711,4551.7m $105.7m $105.7m 4.11% Added +37.8k +37,754
73 ENVESTNET ASSET MANAGEMENT INC 0.03% of their portfolio Berwyn, PA 1,701,3741.7m $105.2m $105.2m 0.03% Reduced -30.9k -30,909
74 AMERIPRISE FINANCIAL INC 0.03% of their portfolio MINNEAPOLIS, MN 1,639,6351.6m $103.1m $103.1m 0.03% Reduced -484.7k -484,724
75 Scheer, Rowlett & Associates Investment Management Ltd. 6.39% of their portfolio TORONTO, A6 1,592,7951.6m $98.6m $98.6m 6.39% Added +42.5k +42,520
76 STIFEL FINANCIAL CORP 0.10% of their portfolio ST. LOUIS, MO 1,592,2611.6m $98.5m $98.5m 0.10% Added +16.3k +16,261
77 NORTHERN TRUST CORP 0.01% of their portfolio CHICAGO, IL 1,581,2001.6m $97.8m $97.8m 0.01% Reduced -69.4k -69,360
78 Select Equity Group, L.P. 0.39% of their portfolio NEW YORK, NY 1,474,1541.5m $91.1m $91.1m 0.39% Reduced -2.4m -2,366,260
79 Marathon Asset Management Ltd 2.92% of their portfolio London, X0 1,473,8591.5m $91.0m $91.0m 2.92% Reduced -121.2k -121,248
80 BRUNI J V & CO /CO 9.39% of their portfolio COLORADO SPRINGS, CO 1,442,5831.4m $89.2m $89.2m 9.39% Reduced -17.6k -17,621
81 Sather Financial Group Inc 5.19% of their portfolio Victoria, TX 1,428,8721.4m $88.4m $88.4m 5.19% Reduced -40.9k -40,865
82 RAYMOND JAMES FINANCIAL INC 0.03% of their portfolio ST. PETERSBURG, FL 1,394,6821.4m $86.3m $86.3m 0.03% Added +48.1k +48,102
83 Addenda Capital Inc. 4.21% of their portfolio MONTREAL, A8 1,391,3291.4m $117.3m $117.3m 4.21% Reduced -280.4k -280,369
84 Aviso Financial Inc. 3.87% of their portfolio TORONTO, A6 1,387,9831.4m $85.9m $85.9m 3.87% Added +26.7k +26,743
85 DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio AUSTIN, TX 1,341,0151.3m $82.9m $82.9m 0.02% Added +41.9k +41,857
86 Amundi 0.03% of their portfolio Paris, I0 1,335,8341.3m $83.7m $83.7m 0.03% Added +463.0k +463,031
87 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 1,280,8691.3m $79.2m $79.2m 0.01% Reduced -1.2m -1,185,816
88 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.45% of their portfolio VICTORIA, A1 1,244,2181.2m $77.1m $77.1m 0.45% Reduced -286.3k -286,291
89 M&G PLC 0.42% of their portfolio London, X0 1,223,5431.2m $75.9m $75.9m 0.42% Reduced -97.4k -97,413
90 WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio Boston, MA 1,193,9061.2m $73.8m $73.8m 0.01% Added +85.3k +85,286
91 HORIZON KINETICS ASSET MANAGEMENT LLC 0.86% of their portfolio NEW YORK, NY 1,173,0011.2m $72.6m $72.6m 0.86% Reduced -37.9k -37,884
92 Madison Asset Management, LLC 0.78% of their portfolio MADISON, WI 1,169,0571.2m $72.3m $72.3m 0.78% Reduced -26.6k -26,564
93 Burgundy Asset Management Ltd. 0.67% of their portfolio Toronto, A6 1,114,4371.1m $68.8m $68.8m 0.67% Reduced -3.6k -3,648
94 Heritage Wealth Advisors 3.22% of their portfolio RICHMOND, VA 1,097,6311.1m $67.9m $67.9m 3.22% Added +1.9k +1,853
95 AVIVA PLC 0.13% of their portfolio LONDON, X0 1,056,0291.1m $65.3m $65.3m 0.13% Reduced -3.7k -3,728
96 HughesLittle Investment Management Ltd. 13.29% of their portfolio Vancouver, A1 1,047,7241.0m $64.7m $64.7m 13.29% Unchanged
97 Focus Partners Wealth 0.14% of their portfolio ST LOUIS, MO 1,017,4831.0m $62.9m $62.9m 0.14% Added +199.7k +199,743
98 Zurich Insurance Group Ltd/FI 0.48% of their portfolio ZURICH, V8 995,622995.6k $61.5m $61.5m 0.48% Reduced -310.7k -310,681
99 Korea Investment CORP 0.13% of their portfolio SEOUL, M5 961,567961.6k $59.4m $59.4m 0.13% Added +29.0k +28,996
100 GREENLEA LANE CAPITAL MANAGEMENT, LLC 16.57% of their portfolio WESTON, CT 952,215952.2k $58.9m $58.9m 16.57% Reduced -15.2k -15,210