Vault-13

INTERPARFUMS INC IPAR

COM · Common Stock · CUSIP 458334109

French company that manufactures and distributes perfumes

288 institutional holders -20 vs Q3 2025
20,105,86220.1m shares reported held*
62.7% of all shares outstanding*
$1.7bnreported value*
31 new 107 added 116 reduced 53 sold out net sold ≈ $5.9m (-69.7k 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 ($6.2m this quarter). Holder counts are more reliable. Shares outstanding: 32.1m as of 2025-11-05, 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 ≈ $84.83. Options: 1 managers hold calls ($25.4k notional), 3 hold puts ($2.7m).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 199Q4 22: 230Q1 23: 277Q2 23: 264Q3 23: 276Q4 23: 285Q1 24: 282Q2 24: 266Q3 24: 271Q4 24: 275Q1 25: 293Q2 25: 317Q3 25: 308Q4 25: 288288Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 2022199
Q4 2022230
Q1 2023277
Q2 2023264
Q3 2023276
Q4 2023285
Q1 2024282
Q2 2024266
Q3 2024271
Q4 2024275
Q1 2025293
Q2 2025317
Q3 2025308
Q4 2025288

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q1 24: 138 bought or addedQ1 24: 144 cut or sold outQ2 24: 144 bought or addedQ2 24: 143 cut or sold outQ2 24Q3 24: 123 bought or addedQ3 24: 136 cut or sold outQ4 24: 119 bought or addedQ4 24: 128 cut or sold outQ4 24Q1 25: 154 bought or addedQ1 25: 120 cut or sold outQ2 25: 179 bought or addedQ2 25: 134 cut or sold outQ2 25Q3 25: 159 bought or addedQ3 25: 156 cut or sold outQ4 25: 138 bought or addedQ4 25: 169 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024138144
Q2 2024144143
Q3 2024123136
Q4 2024119128
Q1 2025154120
Q2 2025179134
Q3 2025159156
Q4 2025138169

Calls vs puts

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

CallsPuts
$0$1m$2m$3m$4mQ1 25 calls: $478.0kQ1 25 puts: $238.6kQ1 25P/C 0.50Q2 25 calls: $669.4kQ2 25 puts: $3.5mQ2 25P/C 5.26Q3 25 calls: $206.0kQ3 25 puts: $2.8mQ3 25P/C 13.75Q4 25 calls: $25.4kQ4 25 puts: $2.7mQ4 25P/C 107.33
Numbers
QuarterCallsPutsP/C
Q1 2025$478.0k$238.6k0.50
Q2 2025$669.4k$3.5m5.26
Q3 2025$206.0k$2.8m13.75
Q4 2025$25.4k$2.7m107.33

Biggest buyers

ROYCE & ASSOCIATES LP Added +202,207+202.2k
SG Americas Securities, LLC Added +121,553+121.6k
FIRST TRUST ADVISORS LP Added +108,433+108.4k
Bank of New York Mellon Corp Added +85,493+85.5k
Mawer Investment Management Ltd. New +76,881+76.9k
DIMENSIONAL FUND ADVISORS LP Added +73,159+73.2k
Clearbridge Investments, LLC New +71,643+71.6k
GOLDMAN SACHS GROUP INC Added +66,946+66.9k
VANGUARD GROUP INC Added +62,832+62.8k
UBS Group AG Added +62,605+62.6k

Biggest sellers

MILLENNIUM MANAGEMENT LLC Reduced -162,428-162.4k
JPMORGAN CHASE & CO Reduced -145,230-145.2k
MetLife Investment Management, LLC Reduced -136,778-136.8k
Summit Creek Advisors LLC Sold out -98,413-98.4k
CITADEL ADVISORS LLC Reduced -97,097-97.1k
VICTORY CAPITAL MANAGEMENT INC Reduced -93,336-93.3k
GW&K Investment Management, LLC Sold out -89,720-89.7k
Edgestream Partners, L.P. Reduced -73,147-73.1k
T. Rowe Price Investment Management, Inc. Reduced -68,106-68.1k
Man Group plc Reduced -64,544-64.5k

Biggest calls

SIMPLEX TRADING, LLC Reduced $25.4k300 shares

Biggest puts

SIMPLEX TRADING, LLC Reduced $1.3m15.1k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $1.2m14.1k shares
CITADEL ADVISORS LLC Reduced $254.5k3.0k 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.

No one currently above 5% in the filings since 19 Dec 2024.

Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27)

Insider purchases and sales in Q4 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.

Officers and directors buying vs selling

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

BuyingSelling
404Q1 24: 0 buyingQ1 24: 3 sellingQ2 24: 0 buyingQ2 24: 0 sellingQ2 24Q3 24: 0 buyingQ3 24: 1 sellingQ4 24: 0 buyingQ4 24: 2 sellingQ4 24Q1 25: 0 buyingQ1 25: 1 sellingQ2 25: 0 buyingQ2 25: 4 sellingQ2 25Q3 25: 0 buyingQ3 25: 0 sellingQ4 25: 0 buyingQ4 25: 1 sellingQ4 25
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q1 20240—3$4.2m—
Q2 20240—0——
Q3 20240—1$188.9k—
Q4 20240—2$571.2k—
Q1 20250—1$2.9m—
Q2 20250—4$2.2m—
Q3 20250—0——
Q4 20250—1$2.1m—
DateInsiderTradeSharesPrice ValueTheir holding
2025-12-11 BENACIN PHILIPPE +1 President Interparfums SA, director · By personal holding company Sold 25,000 $83.24 $2.1m25.0k shares -<1%

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 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BlackRock, Inc. 0.00% of their portfolio New York, NY 2,710,3712.7m $229.9m $229.9m 0.00% Added +54.3k +54,255
2 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 2,163,7842.2m $183.6m $183.6m 0.00% Added +62.8k +62,832
3 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 1,379,2931.4m $117.0m $117.0m 0.01% Reduced -724 -724
4 WESTWOOD HOLDINGS GROUP INC 0.70% of their portfolio DALLAS, TX 1,012,3361.0m $85.9m $85.9m 0.70% Added +35.8k +35,779
5 DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio AUSTIN, TX 776,043776.0k $65.8m $65.8m 0.01% Added +73.2k +73,159
6 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio SAN FRANCISCO, CA 753,469753.5k $63.9m $63.9m 0.01% Added +23.8k +23,767
7 FIRST TRUST ADVISORS LP 0.05% of their portfolio Wheaton, IL 736,782736.8k $62.5m $62.5m 0.05% Added +108.4k +108,433
8 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 688,964689.0k $58.4m $58.4m 0.00% Added +5.4k +5,370
9 ROYCE & ASSOCIATES LP 0.59% of their portfolio New York, NY 683,201683.2k $58.0m $58.0m 0.59% Added +202.2k +202,207
10 VICTORY CAPITAL MANAGEMENT INC 0.02% of their portfolio San Antonio, TX 518,466518.5k $44.0m $44.0m 0.02% Reduced -93.3k -93,336
11 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 454,101454.1k $38.5m $38.5m 0.00% Added +756 +756
12 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 425,249425.2k $36.1m $36.1m 0.00% Added +32.1k +32,076
13 Bahl & Gaynor LLC 0.17% of their portfolio CINCINNATI, OH 403,062403.1k $34.2m $34.2m 0.17% Reduced -11.6k -11,608
14 T. Rowe Price Investment Management, Inc. 0.01% of their portfolio BALTIMORE, MD 371,196371.2k $31.5m $31.5m 0.01% Reduced -68.1k -68,106
15 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 338,416338.4k $28.7m $28.7m 0.00% Reduced -17.7k -17,711
16 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 302,112302.1k $25.6m $25.6m 0.00% Added +85.5k +85,493
17 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 230,503230.5k $19.6m $19.6m 0.00% Added +66.9k +66,946
18 NORGES BANK 0.00% of their portfolio OSLO, Q8 227,666227.7k $19.3m $19.3m 0.00% Not comparable
19 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 226,544226.5k $19.2m $19.2m 0.00% Reduced -1.3k -1,289
20 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 209,065209.1k $17.7m $17.7m 0.00% Added +1.4k +1,448
21 LORD, ABBETT & CO. LLC 0.05% of their portfolio JERSEY CITY, NJ 204,707204.7k $17.4m $17.4m 0.05% Added +53.6k +53,560
22 SEI INVESTMENTS CO 0.02% of their portfolio OAKS, PA 196,191196.2k $16.6m $16.6m 0.02% Reduced -1.9k -1,876
23 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 189,817189.8k $16.1m $16.1m 0.00% Reduced -13.7k -13,668
24 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 178,724178.7k $15.1m $15.1m 0.00% Reduced -12.0k -12,007
25 Aristotle Capital Boston, LLC 0.80% of their portfolio BOSTON, MA 172,670172.7k $14.6m $14.6m 0.80% Added +4.6k +4,581
26 Squarepoint Ops LLC 0.03% of their portfolio NEW YORK, NY 167,513167.5k $14.2m $14.2m 0.03% Reduced -27.6k -27,621
27 LONDON CO OF VIRGINIA 0.08% of their portfolio RICHMOND, VA 154,684154.7k $13.1m $13.1m 0.08% Reduced -30.8k -30,807
28 WCM INVESTMENT MANAGEMENT, LLC 0.03% of their portfolio LAGUNA BEACH, CA 148,055148.1k $12.5m $12.5m 0.03% Reduced -33.4k -33,443
29 HORIZON KINETICS ASSET MANAGEMENT LLC 0.16% of their portfolio NEW YORK, NY 138,558138.6k $11.8m $11.8m 0.16% Reduced -259 -259
30 UBS Group AG 0.00% of their portfolio ZURICH, V8 131,105131.1k $11.1m $11.1m 0.00% Added +62.6k +62,605
31 SG Americas Securities, LLC 0.01% of their portfolio NEW YORK, NY 122,890122.9k $10.4m $10.4m 0.01% Added +121.6k +121,553
32 Tributary Capital Management, LLC 0.96% of their portfolio OMAHA, NE 115,311115.3k $9.8m $9.8m 0.96% Added +1.1k +1,051
33 PineStone Asset Management Inc. 0.06% of their portfolio Montreal, A8 110,852110.9k $9.4m $9.4m 0.06% Reduced -8.5k -8,500
34 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.03% of their portfolio COLUMBUS, OH 103,709103.7k $8.8m $8.8m 0.03% Added +10.8k +10,849
35 Rathbones Group PLC 0.02% of their portfolio Liverpool, X0 97,00097.0k $8.2m $8.2m 0.02% Added +48.5k +48,500
36 Man Group plc 0.01% of their portfolio LONDON, X0 91,60891.6k $7.8m $7.8m 0.01% Reduced -64.5k -64,544
37 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 88,91088.9k $7.5m $7.5m 0.00% Reduced -63.5k -63,456
38 PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio DES MOINES, IA 87,40787.4k $7.4m $7.4m 0.00% Reduced -1.1k -1,120
39 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 84,02084.0k $7.1m $7.1m 0.00% Reduced -145.2k -145,230
40 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 82,80082.8k $7.0m $7.0m 0.00% Added +40.1k +40,131
41 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 77,66177.7k $6.6m $6.6m 0.00% Reduced -97.1k -97,097
42 Mawer Investment Management Ltd. 0.04% of their portfolio CALGARY, A0 76,88176.9k $6.5m $6.5m 0.04% New
43 VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.02% of their portfolio JUPITER, FL 76,35876.4k $6.5m $6.5m 0.02% Added +7.6k +7,613
44 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 75,00475.0k $6.4m $6.4m 0.00% Added +20.6k +20,635
45 GW HENSSLER & ASSOCIATES LTD 0.30% of their portfolio KENNESAW, GA 72,93272.9k $6.2m $6.2m 0.30% Reduced -22.8k -22,841
46 Clearbridge Investments, LLC 0.00% of their portfolio NEW YORK, NY 71,64371.6k $6.1m $6.1m 0.00% New
47 Qube Research & Technologies Ltd 0.01% of their portfolio LONDON, X0 68,73868.7k $5.8m $5.8m 0.01% Added +24.2k +24,190
48 Pier Capital, LLC 0.91% of their portfolio STAMFORD, CT 66,93766.9k $5.7m $5.7m 0.91% Reduced -230 -230
49 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 65,51065.5k $5.6m $5.6m 0.00% Added +3.8k +3,796
50 Public Sector Pension Investment Board 0.02% of their portfolio MONTREAL, A8 63,21063.2k $5.4m $5.4m 0.02% Reduced -8.2k -8,211
51 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 62,86862.9k $5.3m $5.3m 0.01% Added +23.7k +23,724
52 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 61,79761.8k $5.2m $5.2m 0.00% Reduced -21.1k -21,096
53 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 58,27458.3k $4.9m $4.9m 0.00% Added +25.6k +25,558
54 CRAWFORD INVESTMENT COUNSEL INC 0.08% of their portfolio ATLANTA, GA 57,95658.0k $4.9m $4.9m 0.08% Added +7.8k +7,755
55 PDT Partners, LLC 0.30% of their portfolio New York, NY 55,08155.1k $4.7m $4.7m 0.30% Added +48.8k +48,848
56 Trexquant Investment LP 0.04% of their portfolio STAMFORD, CT 54,68054.7k $4.6m $4.6m 0.04% Added +51.0k +51,002
57 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 54,47254.5k $4.6m $4.6m 0.00% Reduced -2.2k -2,204
58 Vest Financial, LLC 0.06% of their portfolio MCLEAN, VA 53,09353.1k $4.5m $4.5m 0.06% Added +12.8k +12,817
59 Alpine Peaks Capital, LP 3.81% of their portfolio NEW YORK, NY 47,09547.1k $4.0m $4.0m 3.81% Reduced -13.7k -13,661
60 Legal & General Group Plc 0.00% of their portfolio London, X0 46,86046.9k $4.0m $4.0m 0.00% Reduced -3.0k -2,977
61 Susquehanna Portfolio Strategies, LLC 0.06% of their portfolio Bala Cynwyd, PA 45,41045.4k $3.9m $3.9m 0.06% Unchanged
62 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 45,27045.3k $3.8m $3.8m 0.01% Reduced -843 -843
63 Carolina Wealth Advisors, LLC 1.66% of their portfolio MYRTLE BEACH, SC 43,92043.9k $3.7m $3.7m 1.66% Reduced -2.4k -2,406
64 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 43,12343.1k $3.7m $3.7m 0.00% Reduced -18.7k -18,674
65 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 43,09843.1k $3.7m $3.7m 0.00% Reduced -162.4k -162,428
66 Point72 Asset Management, L.P. 0.01% of their portfolio STAMFORD, CT 42,41342.4k $3.6m $3.6m 0.01% Added +27.4k +27,436
67 Engineers Gate Manager LP 0.04% of their portfolio NEW YORK, NY 41,37441.4k $3.5m $3.5m 0.04% Added +8.5k +8,468
68 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 39,57739.6k $3.4m $3.4m 0.00% Reduced -5.0k -5,036
69 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 38,83238.8k $3.3m $3.3m 0.00% Unchanged
70 Swiss National Bank 0.00% of their portfolio ZURICH, V8 38,00038.0k $3.2m $3.2m 0.00% Added +700 +700
71 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 34,94534.9k $3.0m $3.0m 0.00% Added +13.3k +13,268
72 Moody Aldrich Partners LLC 0.51% of their portfolio MARBLEHEAD, MA 31,96532.0k $2.7m $2.7m 0.51% Reduced -3.5k -3,489
73 Granite Investment Partners, LLC 0.16% of their portfolio EL SEGUNDO, CA 30,94130.9k $2.6m $2.6m 0.16% Reduced -9.1k -9,072
74 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 29,87129.9k $2.5m $2.5m 0.00% Added +19.9k +19,855
75 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 28,60828.6k $2.4m $2.4m 0.00% Added +2.3k +2,294
76 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 26,02826.0k $2.2m $2.2m 0.00% Reduced -49.0k -49,037
77 Holocene Advisors, LP 0.00% of their portfolio New York, NY 24,60924.6k $2.1m $2.1m 0.00% Added +9.4k +9,354
78 Prescott Group Capital Management, L.L.C. 0.19% of their portfolio Tulsa, OK 23,62923.6k $2.0m $2.0m 0.19% New
79 CANADA LIFE ASSURANCE Co 0.00% of their portfolio WINNIPEG, A2 23,24623.2k $2.0m $2.0m 0.00% Added +7.3k +7,340
80 HRT FINANCIAL LP 0.01% of their portfolio NEW YORK, NY 22,52022.5k $1.9m $1.9m 0.01% Reduced -9.3k -9,298
81 Mitsubishi UFJ Asset Management Co., Ltd. 0.00% of their portfolio TOKYO, M0 21,63821.6k $1.8m $1.8m 0.00% Unchanged
82 Walleye Capital LLC 0.01% of their portfolio NEW YORK, NY 21,31921.3k $1.8m $1.8m 0.01% Added +8.6k +8,552
83 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 21,16221.2k $1.8m $1.8m 0.00% Added +1.0k +1,000
84 Focus Partners Wealth 0.00% of their portfolio ST LOUIS, MO 18,77818.8k $1.6m $1.6m 0.00% Reduced -57.7k -57,689
85 Range Financial Group LLC 0.55% of their portfolio TIGARD, OR 18,76918.8k $1.6m $1.6m 0.55% New
86 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 18,67418.7k $1.6m $1.6m 0.00% Reduced -16 -16
87 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 18,39918.4k $1.6m $1.6m 0.00% Added +2.6k +2,638
88 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 18,39918.4k $1.6m $1.6m 0.00% Reduced -1.6k -1,572
89 BENJAMIN EDWARDS INC 0.02% of their portfolio Clayton, MO 18,23718.2k $1.5m $1.5m 0.02% Reduced -843 -843
90 CAXTON ASSOCIATES LLP 0.03% of their portfolio LONDON, X0 18,04718.0k $1.5m $1.5m 0.03% Added +15.4k +15,431
91 Quantinno Capital Management LP 0.00% of their portfolio NEW YORK, NY 17,43717.4k $1.5m $1.5m 0.00% New
92 PRUDENTIAL FINANCIAL INC 0.00% of their portfolio NEWARK, NJ 17,05417.1k $1.4m $1.4m 0.00% Reduced -1.2k -1,195
93 Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio SEOUL, M5 16,52416.5k $1.4m $1.4m 0.00% Reduced -550 -550
94 XTX Topco Ltd 0.04% of their portfolio LONDON, X0 15,85115.9k $1.3m $1.3m 0.04% Added +13.2k +13,153
95 Invenomic Capital Management LP 0.06% of their portfolio BOSTON, MA 15,72415.7k $1.3m $1.3m 0.06% New
96 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 14,35814.4k $1.2m $1.2m 0.00% Added +8.5k +8,519
97 Van Hulzen Asset Management, LLC 0.09% of their portfolio EL DORADO HILLS, CA 14,23014.2k $1.2m $1.2m 0.09% Reduced -4.4k -4,381
98 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 13,33913.3k $1.1m $1.1m 0.00% Reduced -1.8k -1,843
99 Thrivent Financial for Lutherans 0.00% of their portfolio Minneapolis, MN 12,55912.6k $1.1m $1.1m 0.00% Reduced -648 -648
100 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 12,24512.2k $1.0m $1.0m 0.00% Reduced -4.5k -4,518