Vault-13

ENCOMPASS HEALTH CORP EHC

COM · Common Stock · CUSIP 29261A100 · ISIN US29261A1007

377 institutional holders +30 vs Q3 2022
95,784,09495.8m shares reported held*
96.0% of all shares outstanding*
$5.7bnreported value*
59 new 129 added 116 reduced 29 sold out net sold ≈ $121.3m (-2.0m 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 ($21.4m this quarter). Holder counts are more reliable. Shares outstanding: 99.7m as of 2023-02-13, 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 ≈ $59.81. Options: 8 managers hold calls ($11.7m notional), 3 hold puts ($412.7k).

Trends to Q4 2022

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 347Q4 22: 377377Q3 22Q4 22
Numbers
QuarterHolders
Q3 2022347
Q4 2022377

Calls vs puts

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

CallsPuts
$0$5m$10m$15m$20mQ3 22 calls: $18.7mQ3 22 puts: $3.6mQ3 22P/C 0.19Q4 22 calls: $11.7mQ4 22 puts: $412.7kQ4 22P/C 0.04
Numbers
QuarterCallsPutsP/C
Q3 2022$18.7m$3.6m0.19
Q4 2022$11.7m$412.7k0.04

Biggest buyers

WELLINGTON MANAGEMENT GROUP LLP Added +1,850,676+1.9m
Magnetar Financial LLC Added +694,916+694.9k
Junto Capital Management LP New +656,480+656.5k
Point72 Asset Management, L.P. Added +627,500+627.5k
MILLENNIUM MANAGEMENT LLC Added +545,741+545.7k
BlackRock Inc. Added +486,208+486.2k
CITADEL ADVISORS LLC Added +468,326+468.3k
GEODE CAPITAL MANAGEMENT, LLC Added +275,379+275.4k
Holocene Advisors, LP Added +266,104+266.1k
Nuveen Asset Management, LLC Added +243,999+244.0k

Biggest sellers

BAUPOST GROUP LLC/MA Sold out -2,950,000-3.0m
JANA PARTNERS LLC Reduced -2,240,000-2.2m
VICTORY CAPITAL MANAGEMENT INC Reduced -1,210,764-1.2m
JANUS HENDERSON GROUP PLC Reduced -1,196,379-1.2m
GLENVIEW CAPITAL MANAGEMENT, LLC Sold out -349,830-349.8k
RENAISSANCE TECHNOLOGIES LLC Reduced -316,800-316.8k
DEPRINCE RACE & ZOLLO INC Reduced -255,764-255.8k
AMERICAN CENTURY COMPANIES INC Reduced -230,063-230.1k
Alberta Investment Management Corp Reduced -160,000-160.0k
MACQUARIE GROUP LTD Reduced -148,328-148.3k

Biggest calls

JANE STREET GROUP, LLC Added $6.2m103.9k shares
NOMURA HOLDINGS INC Reduced $3.4m56.8k shares
CITADEL ADVISORS LLC Reduced $747.6k12.5k shares
GROUP ONE TRADING LLC Reduced $604.1k10.1k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $370.8k6.2k shares
Walleye Trading LLC Added $305.0k5.1k shares
SIMPLEX TRADING, LLC Reduced $23.0k400 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

CITADEL ADVISORS LLC Reduced $299.1k5.0k shares
Walleye Trading LLC Reduced $113.6k1.9k 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
VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 5.3% new 5.2m≈ $529.0m 2026-04-29
PRICE T ROWE ASSOCIATES INC /MD/ 13G · institution new · filed 2026-08-14 5.1% new 5.1m≈ $511.1m 2026-08-14

Fell to 5% or below in the last year: VANGUARD PORTFOLIO MANAGEMENT LLC (5.0%, 2026-07-31; now reported by VANGUARD CAPITAL MANAGEMENT LLC), VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC), Invesco Ltd. (4.9%, 2026-02-12)

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
101Q1 21: 0 buyingQ1 21: 0 sellingQ2 21: 0 buyingQ2 21: 0 sellingQ2 21Q3 21: 0 buyingQ3 21: 0 sellingQ4 21: 1 buyingQ4 21: 0 sellingQ4 21Q1 22: 0 buyingQ1 22: 0 sellingQ2 22: 1 buyingQ2 22: 0 sellingQ2 22Q3 22: 0 buyingQ3 22: 1 sellingQ4 22: 1 buyingQ4 22: 0 sellingQ4 22
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q1 20210—0——
Q2 20210—0——
Q3 20210—0——
Q4 20211$20.0k0——
Q1 20220—0——
Q2 20221$66.5k0——
Q3 20220—1$1.1m—
Q4 20221$100.0k0——
DateInsiderTradeSharesPrice ValueTheir holding
2022-10-31 CARMICHAEL GREG D Director Bought 1,830 $54.67 $100.0k1.8k shares +21%

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 11,232,62011.2m $671.8m $671.8m 0.02% Added +486.2k +486,208
2 VANGUARD GROUP INC 0.02% of their portfolio Valley Forge, PA 9,749,4419.7m $583.1m $583.1m 0.02% Added +96.3k +96,261
3 WELLINGTON MANAGEMENT GROUP LLP 0.11% of their portfolio Boston, MA 9,558,8499.6m $571.7m $571.7m 0.11% Added +1.9m +1,850,676
4 WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 1.01% of their portfolio CHICAGO, IL 4,423,5884.4m $264.6m $264.6m 1.01% Added +104.5k +104,492
5 JPMORGAN CHASE & CO 0.03% of their portfolio NEW YORK, NY 3,010,2623.0m $180.0m $180.0m 0.03% Reduced -142.0k -141,977
6 STATE STREET CORP 0.01% of their portfolio BOSTON, MA 2,859,6622.9m $171.5m $171.5m 0.01% Added +67.2k +67,164
7 Invesco Ltd. 0.05% of their portfolio ATLANTA, GA 2,635,0092.6m $157.6m $157.6m 0.05% Added +154.9k +154,856
8 Bank of New York Mellon Corp 0.03% of their portfolio NEW YORK, NY 2,105,6672.1m $125.9m $125.9m 0.03% Reduced -101.0k -101,045
9 Point72 Asset Management, L.P. 0.40% of their portfolio STAMFORD, CT 1,770,3771.8m $105.9m $105.9m 0.40% Added +627.5k +627,500
10 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.04% of their portfolio Boston, MA 1,713,0941.7m $102.5m $102.5m 0.04% Added +10.7k +10,746
11 Magnetar Financial LLC 1.71% of their portfolio EVANSTON, IL 1,679,5721.7m $100.5m $100.5m 1.71% Added +694.9k +694,916
12 BROWN ADVISORY INC 0.17% of their portfolio BALTIMORE, MD 1,572,4231.6m $94.0m $94.0m 0.17% Added +25.3k +25,336
13 GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio BOSTON, MA 1,563,3451.6m $93.5m $93.5m 0.01% Added +275.4k +275,379
14 DIMENSIONAL FUND ADVISORS LP 0.03% of their portfolio AUSTIN, TX 1,526,1271.5m $91.3m $91.3m 0.03% Reduced -24.6k -24,605
15 CITADEL ADVISORS LLC 0.10% of their portfolio MIAMI, FL 1,483,4201.5m $88.7m $88.7m 0.10% Added +468.3k +468,326
16 Capital Research Global Investors 0.03% of their portfolio Los Angeles, CA 1,481,8861.5m $88.6m $88.6m 0.03% Reduced -101.1k -101,147
17 JANUS HENDERSON GROUP PLC 0.06% of their portfolio LONDON, X0 1,371,3331.4m $82.0m $82.0m 0.06% Reduced -1.2m -1,196,379
18 Sumitomo Mitsui Trust Group, Inc. 0.06% of their portfolio CHIYODA-KU, TOKYO, M0 1,338,7911.3m $80.1m $80.1m 0.06% Added +26.8k +26,810
19 AMERIPRISE FINANCIAL INC 0.03% of their portfolio MINNEAPOLIS, MN 1,263,7671.3m $75.6m $75.6m 0.03% Reduced -65.8k -65,784
20 SCHRODER INVESTMENT MANAGEMENT GROUP 0.11% of their portfolio London, X0 1,168,2051.2m $69.9m $69.9m 0.11% Added +2.0k +1,980
21 TimesSquare Capital Management, LLC 0.92% of their portfolio NEW YORK, NY 1,084,7251.1m $64.9m $64.9m 0.92% Reduced -43.2k -43,175
22 VICTORY CAPITAL MANAGEMENT INC 0.07% of their portfolio San Antonio, TX 1,076,8201.1m $64.4m $64.4m 0.07% Reduced -1.2m -1,210,764
23 VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. 1.73% of their portfolio AMSTERDAM, P7 993,506993.5k $59.4m $59.4m 1.73% Reduced -105.7k -105,665
24 NORGES BANK 0.01% of their portfolio OSLO, Q8 986,257986.3k $59.0m $59.0m 0.01% Added +58.6k +58,580
25 Copeland Capital Management, LLC 1.55% of their portfolio Conshohocken, PA 983,754983.8k $58.8m $58.8m 1.55% Added +125.0k +125,031
26 MILLENNIUM MANAGEMENT LLC 0.07% of their portfolio NEW YORK, NY 980,352980.4k $58.6m $58.6m 0.07% Added +545.7k +545,741
27 Paradice Investment Management LLC 3.95% of their portfolio Denver, CO 851,593851.6k $50.9m $50.9m 3.95% Unchanged
28 NORTHERN TRUST CORP 0.01% of their portfolio CHICAGO, IL 808,938808.9k $48.4m $48.4m 0.01% Reduced -579 -579
29 MACQUARIE GROUP LTD 0.06% of their portfolio Sydney, NSW 2000, C3 802,654802.7k $48.0m $48.0m 0.06% Reduced -148.3k -148,328
30 REINHART PARTNERS, LLC. 2.55% of their portfolio MEQUON, WI 787,066787.1k $47.1m $47.1m 2.55% Reduced -45.1k -45,112
31 Leeward Investments, LLC - MA 1.92% of their portfolio BOSTON, MA 726,021726.0k $43.4m $43.4m 1.92% Reduced -10.3k -10,333
32 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 672,122672.1k $40.2m $40.2m 0.00% Reduced -86.9k -86,945
33 Junto Capital Management LP 1.11% of their portfolio NEW YORK, NY 656,480656.5k $39.3m $39.3m 1.11% New
34 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio SAN FRANCISCO, CA 621,575621.6k $37.2m $37.2m 0.01% Added +23.1k +23,080
35 DEPRINCE RACE & ZOLLO INC 0.82% of their portfolio Winter Park, FL 601,005601.0k $35.9m $35.9m 0.82% Reduced -255.8k -255,764
36 Nuveen Asset Management, LLC 0.01% of their portfolio CHICAGO, IL 556,157556.2k $33.3m $33.3m 0.01% Added +244.0k +243,999
37 FIRST TRUST ADVISORS LP 0.04% of their portfolio Wheaton, IL 552,707552.7k $33.1m $33.1m 0.04% Added +54.1k +54,103
38 Epoch Investment Partners, Inc. 0.20% of their portfolio New York, NY 550,390550.4k $32.9m $32.9m 0.20% Added +83.7k +83,712
39 WEDGE CAPITAL MANAGEMENT L L P/NC 0.53% of their portfolio CHARLOTTE, NC 545,643545.6k $32.6m $32.6m 0.53% Reduced -124.1k -124,051
40 TD Asset Management Inc 0.04% of their portfolio Toronto, A6 499,602499.6k $29.9m $29.9m 0.04% Added +76.8k +76,803
41 HEARTLAND ADVISORS INC 1.86% of their portfolio MILWAUKEE, WI 490,103490.1k $29.3m $29.3m 1.86% Added +7.0k +7,013
42 SYSTEMATIC FINANCIAL MANAGEMENT LP 0.94% of their portfolio TEANECK, NJ 481,398481.4k $28.8m $28.8m 0.94% Reduced -5.4k -5,372
43 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 459,953460.0k $27.5m $27.5m 0.01% Added +35.6k +35,614
44 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 424,407424.4k $25.4m $25.4m 0.01% Reduced -13.9k -13,947
45 Bernzott Capital Advisors 3.05% of their portfolio Camarillo, CA 394,077394.1k $23.6m $23.6m 3.05% Added +125.5k +125,487
46 Woodline Partners LP 0.32% of their portfolio San Francisco, CA 392,893392.9k $23.5m $23.5m 0.32% Added +129.7k +129,740
47 FMR LLC 0.00% of their portfolio BOSTON, MA 392,574392.6k $23.5m $23.5m 0.00% Added +126.8k +126,850
48 PRINCIPAL FINANCIAL GROUP INC 0.02% of their portfolio DES MOINES, IA 391,167391.2k $23.4m $23.4m 0.02% Added +2.3k +2,338
49 JANA PARTNERS LLC 1.89% of their portfolio New York, NY 387,062387.1k $23.2m $23.2m 1.89% Reduced -2.2m -2,240,000
50 RHUMBLINE ADVISERS 0.03% of their portfolio BOSTON, MA 385,979386.0k $23.1m $23.1m 0.03% Added +4.1k +4,052
51 Holocene Advisors, LP 0.11% of their portfolio New York, NY 305,129305.1k $18.2m $18.2m 0.11% Added +266.1k +266,104
52 Russell Investments Group, Ltd. 0.04% of their portfolio Seattle, WA 293,433293.4k $17.6m $17.6m 0.04% Reduced -50.2k -50,198
53 Retirement Systems of Alabama 0.07% of their portfolio MONTGOMERY, AL 284,823284.8k $17.0m $17.0m 0.07% Added +14.3k +14,295
54 BLAIR WILLIAM & CO/IL 0.07% of their portfolio CHICAGO, IL 284,589284.6k $17.0m $17.0m 0.07% Reduced -11.8k -11,761
55 FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ 0.13% of their portfolio Cincinnati, OH 278,907278.9k $16.7m $16.7m 0.13% Added +11.6k +11,640
56 Advantage Alpha Capital Partners LP 3.48% of their portfolio SAN FRANCISCO, CA 274,043274.0k $16.4m $16.4m 3.48% Added +38.5k +38,516
57 TRUIST FINANCIAL CORP 0.03% of their portfolio CHARLOTTE, NC 270,080270.1k $16.2m $16.2m 0.03% Reduced -3.1k -3,104
58 Zurcher Kantonalbank (Zurich Cantonalbank) 0.08% of their portfolio ZURICH, V8 264,418264.4k $15.8m $15.8m 0.08% Added +25.7k +25,688
59 FIL Ltd 0.02% of their portfolio HAMILTON, D0 261,860261.9k $15.7m $15.7m 0.02% Reduced -529 -529
60 BOOTHBAY FUND MANAGEMENT, LLC 0.47% of their portfolio NEW YORK, NY 257,124257.1k $15.4m $15.4m 0.47% Added +88.5k +88,476
61 SILVERCREST ASSET MANAGEMENT GROUP LLC 0.12% of their portfolio NEW YORK, NY 251,030251.0k $15.0m $15.0m 0.12% Reduced -6.1k -6,143
62 SEI INVESTMENTS CO 0.03% of their portfolio OAKS, PA 243,714243.7k $14.6m $14.6m 0.03% Reduced -27.3k -27,311
63 California Public Employees Retirement System 0.01% of their portfolio Sacramento, CA 241,527241.5k $14.4m $14.4m 0.01% Added +9.2k +9,173
64 Swiss National Bank 0.01% of their portfolio ZURICH, V8 240,900240.9k $14.4m $14.4m 0.01% Added +4.2k +4,200
65 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.02% of their portfolio BOSTON, MA 240,668240.7k $14.4m $14.4m 0.02% Reduced -120.8k -120,827
66 GUGGENHEIM CAPITAL LLC 0.12% of their portfolio CHICAGO, IL 224,798224.8k $13.4m $13.4m 0.12% Added +45.6k +45,633
67 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 198,298198.3k $11.9m $11.9m 0.00% Added +42.9k +42,914
68 Alberta Investment Management Corp 0.10% of their portfolio EDMONTON, A0 195,654195.7k $11.7m $11.7m 0.10% Reduced -160.0k -160,000
69 EVENTIDE ASSET MANAGEMENT, LLC 0.23% of their portfolio Boston, MA 194,495194.5k $11.6m $11.6m 0.23% Unchanged
70 Aristotle Capital Boston, LLC 0.35% of their portfolio BOSTON, MA 185,111185.1k $11.1m $11.1m 0.35% Reduced -7.0k -7,013
71 NATIXIS ADVISORS, LLC 0.04% of their portfolio Boston, MA 184,264184.3k $11.0m $11.0m 0.04% Added +22.0k +21,994
72 COMERICA BANK 0.09% of their portfolio DALLAS, TX 184,172184.2k $11.3m $11.3m 0.09% Reduced -3.9k -3,930
73 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio NEW YORK, NY 183,684183.7k $11.0m $11.0m 0.01% Added +30.6k +30,595
74 AMERICAN INTERNATIONAL GROUP, INC. 0.06% of their portfolio New York, NY 155,394155.4k $9.3m $9.3m 0.06% Reduced -2.0k -2,042
75 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 150,586150.6k $9.0m $9.0m 0.00% Added +874 +874
76 Legal & General Group Plc 0.00% of their portfolio London, X0 149,041149.0k $8.9m $8.9m 0.00% Added +4.2k +4,186
77 STRS OHIO 0.04% of their portfolio COLUMBUS, OH 146,406146.4k $8.8m $8.8m 0.04% Added +48.4k +48,351
78 THOMPSON SIEGEL & WALMSLEY LLC 0.14% of their portfolio RICHMOND, VA 146,295146.3k $8.8m $8.8m 0.14% New
79 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 143,730143.7k $8.6m $8.6m 0.00% Added +6.9k +6,861
80 RAYMOND JAMES & ASSOCIATES 0.01% of their portfolio ST PETERSBURG, FL 141,522141.5k $8.5m $8.5m 0.01% Reduced -3.0k -3,048
81 LOS ANGELES CAPITAL MANAGEMENT LLC 0.04% of their portfolio LOS ANGELES, CA 138,133138.1k $8.3m $8.3m 0.04% Reduced -17.9k -17,909
82 OPPENHEIMER & CO INC 0.18% of their portfolio NEW YORK, NY 135,505135.5k $8.1m $8.1m 0.18% Reduced -5.3k -5,275
83 Orchard Capital Management, LLC 2.72% of their portfolio CHICAGO, IL 135,466135.5k $8.1m $8.1m 2.72% Unchanged
84 Madison Asset Management, LLC 0.12% of their portfolio MADISON, WI 132,584132.6k $7.9m $7.9m 0.12% Reduced -507 -507
85 South Dakota Investment Council 0.18% of their portfolio SIOUX FALLS, SD 132,381132.4k $7.9m $7.9m 0.18% Added +11.6k +11,600
86 CREDIT SUISSE AG/ 0.01% of their portfolio ZURICH, V8 127,689127.7k $7.6m $7.6m 0.01% Added +27.4k +27,447
87 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio WEST SACRAMENTO, CA 126,901126.9k $7.6m $7.6m 0.01% Added +1.5k +1,471
88 JENSEN INVESTMENT MANAGEMENT INC 0.06% of their portfolio Lake Oswego, OR 126,680126.7k $7.6m $7.6m 0.06% Reduced -6.3k -6,320
89 NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio ALBANY, NY 123,833123.8k $7.4m $7.4m 0.01% Added +4.0k +3,959
90 Raymond James Financial Services Advisors, Inc. 0.01% of their portfolio ST. PETERSBURG, FL 123,477123.5k $7.4m $7.4m 0.01% Reduced -2.5k -2,539
91 UBS Group AG 0.00% of their portfolio ZURICH, V8 123,310123.3k $7.4m $7.4m 0.00% Added +51.5k +51,515
92 Bridgewater Associates, LP 0.04% of their portfolio Westport, CT 121,371121.4k $7.3m $7.3m 0.04% Reduced -37.9k -37,943
93 SEGALL BRYANT & HAMILL, LLC 0.08% of their portfolio CHICAGO, IL 117,645117.6k $7.0m $7.0m 0.08% Reduced -23.0k -22,989
94 BARINGTON COMPANIES MANAGEMENT, LLC 9.12% of their portfolio NEW YORK, NY 101,960102.0k $6.1m $6.1m 9.12% Reduced -20.0k -20,000
95 STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.01% of their portfolio TALLAHASSEE, FL 100,216100.2k $6.0m $6.0m 0.01% Reduced -5.7k -5,650
96 Thrivent Financial for Lutherans 0.02% of their portfolio Minneapolis, MN 96,92396.9k $5.8m $5.8m 0.02% Reduced -35.6k -35,572
97 STATE OF WISCONSIN INVESTMENT BOARD 0.02% of their portfolio MADISON, WI 94,93894.9k $5.7m $5.7m 0.02% Reduced -6.1k -6,061
98 MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.07% of their portfolio New York, NY 93,41493.4k $5.6m $5.6m 0.07% Added +1.3k +1,270
99 Cinctive Capital Management LP 0.28% of their portfolio New York, NY 90,61290.6k $5.4m $5.4m 0.28% New
100 SIT INVESTMENT ASSOCIATES INC 0.15% of their portfolio Minneapolis, MN 86,97587.0k $5.2m $5.2m 0.15% Reduced -275 -275