Vault-13

STONECO LTD STNE

COM CL A · Common Stock · CUSIP G85158106 · ISIN KYG851581069

Financial technology company

269 institutional holders +14 vs Q1 2025
188,209,553188.2m shares reported held*
$3.0bnreported value*
58 new 77 added 86 reduced 48 sold out net sold ≈ $154.0m (-9.6m 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 ($3.9m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $16.04. Options: 20 managers hold calls ($133.6m notional), 16 hold puts ($42.3m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 254Q4 22: 253Q1 23: 244Q2 23: 256Q3 23: 263Q4 23: 283Q1 24: 294Q2 24: 285Q3 24: 286Q4 24: 278Q1 25: 255Q2 25: 269269Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022254
Q4 2022253
Q1 2023244
Q2 2023256
Q3 2023263
Q4 2023283
Q1 2024294
Q2 2024285
Q3 2024286
Q4 2024278
Q1 2025255
Q2 2025269

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q3 23: 128 bought or addedQ3 23: 125 cut or sold outQ4 23: 145 bought or addedQ4 23: 119 cut or sold outQ4 23Q1 24: 159 bought or addedQ1 24: 142 cut or sold outQ2 24: 143 bought or addedQ2 24: 158 cut or sold outQ2 24Q3 24: 159 bought or addedQ3 24: 143 cut or sold outQ4 24: 135 bought or addedQ4 24: 137 cut or sold outQ4 24Q1 25: 128 bought or addedQ1 25: 161 cut or sold outQ2 25: 135 bought or addedQ2 25: 134 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023128125
Q4 2023145119
Q1 2024159142
Q2 2024143158
Q3 2024159143
Q4 2024135137
Q1 2025128161
Q2 2025135134

Calls vs puts

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

CallsPuts
$0$50m$100m$150mQ3 24 calls: $56.4mQ3 24 puts: $55.6mQ3 24P/C 0.99Q4 24 calls: $21.9mQ4 24 puts: $19.8mQ4 24P/C 0.90Q1 25 calls: $72.1mQ1 25 puts: $26.5mQ1 25P/C 0.37Q2 25 calls: $133.6mQ2 25 puts: $42.3mQ2 25P/C 0.32
Numbers
QuarterCallsPutsP/C
Q3 2024$56.4m$55.6m0.99
Q4 2024$21.9m$19.8m0.90
Q1 2025$72.1m$26.5m0.37
Q2 2025$133.6m$42.3m0.32

Biggest buyers

Driehaus Capital Management LLC New +6,243,152+6.2m
Clark Capital Management Group, Inc. New +3,330,993+3.3m
Azora Capital LP Added +2,279,821+2.3m
Tekne Capital Management, LLC New +2,200,000+2.2m
MARSHALL WACE, LLP New +2,167,591+2.2m
Ninety One UK Ltd New +1,329,819+1.3m
Robeco Institutional Asset Management B.V. Added +1,017,717+1.0m
FMR LLC Added +843,640+843.6k
Man Group plc New +831,007+831.0k
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP New +746,876+746.9k

Biggest sellers

SQUADRA INVESTMENTS - GESTAO DE RECURSOS LTDA. Reduced -6,503,002-6.5m
GOLDMAN SACHS GROUP INC Reduced -3,690,451-3.7m
CITADEL ADVISORS LLC Reduced -3,472,525-3.5m
Point72 Asset Management, L.P. Reduced -3,039,842-3.0m
ATMOS CAPITAL GESTAO DE RECURSOS LTDA. Reduced -2,886,803-2.9m
MORGAN STANLEY Reduced -2,534,916-2.5m
Fourth Sail Capital LP Sold out -1,301,556-1.3m
Sharp Capital Gestora de Recursos Ltda. Reduced -1,241,859-1.2m
JANE STREET GROUP, LLC Reduced -1,134,570-1.1m
D. E. Shaw & Co., Inc. Sold out -1,115,639-1.1m

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $44.3m2.8m shares
PEAK6 LLC Added $21.7m1.4m shares
CITADEL ADVISORS LLC Added $15.4m962.5k shares
SIMPLEX TRADING, LLC Reduced $13.0m811.0k shares
IMC-Chicago, LLC Added $7.6m476.0k shares
D. E. Shaw & Co., Inc. Added $6.6m413.0k shares
Walleye Trading LLC Added $6.3m391.2k shares
GROUP ONE TRADING LLC Reduced $6.0m371.2k shares
JANE STREET GROUP, LLC Added $4.4m275.8k shares
CAPITAL FUND MANAGEMENT S.A. Added $3.1m193.2k shares

Biggest puts

SQUADRA INVESTMENTS - GESTAO DE RECURSOS LTDA. New $14.9m928.8k shares
CITADEL ADVISORS LLC Added $9.1m568.1k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $7.5m466.8k shares
IMC-Chicago, LLC Reduced $2.4m149.7k shares
SIMPLEX TRADING, LLC Reduced $2.2m134.3k shares
JANE STREET GROUP, LLC Added $1.5m93.6k shares
Cubist Systematic Strategies, LLC Added $1.1m67.1k shares
CAPITAL FUND MANAGEMENT S.A. Reduced $991.3k61.8k shares
Verition Fund Management LLC Added $644.8k40.2k shares
GROUP ONE TRADING LLC Reduced $580.6k36.2k 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.

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
Madrone Partners, L.P. 13D · may seek influence filed 2026-10-07 10.8% 25.2m≈ $273.5m 2026-10-07
BlackRock, Inc. 13G · institution -2.7 pts · filed 2026-10-27 8.7% -2.7 pts 18.9m≈ $205.1m 2026-10-27
VCK Investment Fund Ltd (SAC) 13G · exempt (held before listing) filed 2025-11-14 8.2% 21.5m≈ $232.5m 2025-11-14

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 MADRONE ADVISORS, LLC 56.48% of their portfolio Denver, CO 25,339,27625.3m $406.4m $406.4m 56.48% Unchanged
2 BlackRock, Inc. 0.01% of their portfolio New York, NY 24,919,51924.9m $399.7m $399.7m 0.01% Reduced -17.0k -16,980
3 Point72 Asset Management, L.P. 0.37% of their portfolio STAMFORD, CT 9,769,1019.8m $156.7m $156.7m 0.37% Reduced -3.0m -3,039,842
4 ATMOS CAPITAL GESTAO DE RECURSOS LTDA. 22.61% of their portfolio Leblon - Rio de Janeiro, D5 9,096,0709.1m $145.9m $145.9m 22.61% Reduced -2.9m -2,886,803
5 SQUADRA INVESTMENTS - GESTAO DE RECURSOS LTDA. 28.40% of their portfolio RIO DE JANEIRO, D5 7,035,3087.0m $112.8m $112.8m 28.40% Reduced -6.5m -6,503,002
6 Nuveen, LLC 0.03% of their portfolio CHARLOTTE, NC 6,658,0176.7m $106.8m $106.8m 0.03% Reduced -69.3k -69,318
7 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 6,365,7136.4m $102.1m $102.1m 0.00% Reduced -196.3k -196,322
8 Driehaus Capital Management LLC 0.80% of their portfolio Chicago, IL 6,243,1526.2m $100.1m $100.1m 0.80% New
9 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 5,689,1175.7m $91.3m $91.3m 0.01% Reduced -336.7k -336,658
10 Azora Capital LP 3.53% of their portfolio MIAMI, FL 4,863,3314.9m $78.0m $78.0m 3.53% Added +2.3m +2,279,821
11 JGP Global Gestao de Recursos Ltda. 35.75% of their portfolio RIO DE JANEIRO, D5 4,554,3254.6m $73.1m $73.1m 35.75% Added +81.6k +81,587
12 Slate Path Capital LP 1.16% of their portfolio New York, NY 4,193,5414.2m $67.3m $67.3m 1.16% Reduced -715.0k -715,000
13 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 3,487,8043.5m $55.9m $55.9m 0.00% Reduced -614.8k -614,802
14 Polunin Capital Partners Ltd 9.23% of their portfolio LONDON, X0 3,464,2883.5m $56.5m $56.5m 9.23% Reduced -8.0k -8,000
15 Clark Capital Management Group, Inc. 0.37% of their portfolio PHILADELPHIA, PA 3,330,9933.3m $53.4m $53.4m 0.37% New
16 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 3,209,6653.2m $51.5m $51.5m 0.00% Reduced -2.5m -2,534,916
17 NORGES BANK 0.01% of their portfolio OSLO, Q8 2,765,9552.8m $44.4m $44.4m 0.01% Added +152.8k +152,765
18 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 2,694,5002.7m $43.2m $43.2m 0.00% Added +569.6k +569,580
19 Tekne Capital Management, LLC 12.28% of their portfolio NEW YORK, NY 2,200,0002.2m $35.3m $35.3m 12.28% New
20 UBS Group AG 0.01% of their portfolio ZURICH, V8 2,198,6472.2m $35.3m $35.3m 0.01% Reduced -718.7k -718,687
21 MARSHALL WACE, LLP 0.04% of their portfolio LONDON, X0 2,167,5912.2m $34.8m $34.8m 0.04% New
22 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 2,138,5502.1m $34.3m $34.3m 0.00% Reduced -335.1k -335,138
23 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 2,113,3892.1m $33.9m $33.9m 0.01% Reduced -3.7m -3,690,451
24 Coronation Fund Managers Ltd. 1.81% of their portfolio Cape Town, T3 2,082,7892.1m $33.4m $33.4m 1.81% Added +254.1k +254,075
25 Assenagon Asset Management S.A. 0.05% of their portfolio SENNINGERBERG, N4 1,927,3691.9m $30.9m $30.9m 0.05% Added +407.2k +407,177
26 Robeco Institutional Asset Management B.V. 0.05% of their portfolio ROTTERDAM, P7 1,833,7171.8m $29.4m $29.4m 0.05% Added +1.0m +1,017,717
27 VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.10% of their portfolio JUPITER, FL 1,666,2841.7m $26.7m $26.7m 0.10% Reduced -486.4k -486,364
28 NUCLEO CAPITAL LTDA. 54.22% of their portfolio Sao Paulo, Sp, D5 1,665,7561.7m $26.7m $26.7m 54.22% Added +42.4k +42,412
29 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.05% of their portfolio CAUSEWAY BAY, K3 1,534,5671.5m $24.6m $24.6m 0.05% Added +19.8k +19,825
30 FEDERATED HERMES, INC. 0.05% of their portfolio PITTSBURGH, PA 1,501,8961.5m $24.1m $24.1m 0.05% Added +318.8k +318,845
31 Sharp Capital Gestora de Recursos Ltda. 23.35% of their portfolio RIO DE JANEIRO, D5 1,454,9621.5m $23.3m $23.3m 23.35% Reduced -1.2m -1,241,859
32 Ninety One UK Ltd 0.05% of their portfolio London, X0 1,329,8191.3m $21.3m $21.3m 0.05% New
33 14B Captial Management LP 7.82% of their portfolio LA JOLLA, CA 1,187,0001.2m $19.0m $19.0m 7.82% Reduced -112.0k -112,000
34 Lead Edge Capital Management, LLC 5.25% of their portfolio NEW YORK, NY 1,183,3911.2m $19.0m $19.0m 5.25% Reduced -663.0k -663,000
35 JANE STREET GROUP, LLC 0.03% of their portfolio NEW YORK, NY 1,015,6761.0m $16.3m $16.3m 0.03% Reduced -1.1m -1,134,570
36 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.02% of their portfolio BALA CYNWYD, PA 986,461986.5k $15.8m $15.8m 0.02% Added +391.5k +391,548
37 FMR LLC 0.00% of their portfolio BOSTON, MA 925,247925.2k $14.8m $14.8m 0.00% Added +843.6k +843,640
38 Man Group plc 0.03% of their portfolio LONDON, X0 831,007831.0k $13.3m $13.3m 0.03% New
39 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.01% of their portfolio BOSTON, MA 746,876746.9k $12.0m $12.0m 0.01% New
40 Balyasny Asset Management L.P. 0.03% of their portfolio Chicago, IL 733,116733.1k $11.8m $11.8m 0.03% Added +496.6k +496,650
41 Itau Unibanco Holding S.A. 0.44% of their portfolio SAO PAULO, D5 718,893718.9k $11.5m $11.5m 0.44% Added +451.3k +451,265
42 TB Capital Gestao de Recursos Ltda. 9.52% of their portfolio Rio de Janeiro, D5 683,854683.9k $11.0m $11.0m 9.52% First filing
43 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 669,091669.1k $10.7m $10.7m 0.00% Added +166.2k +166,239
44 Incline Global Management LLC 4.10% of their portfolio New York, NY 650,402650.4k $10.4m $10.4m 4.10% Reduced -35.8k -35,776
45 CANADA PENSION PLAN INVESTMENT BOARD 0.01% of their portfolio TORONTO ONTARIO, A6 649,680649.7k $10.4m $10.4m 0.01% Unchanged
46 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 638,986639.0k $10.2m $10.2m 0.00% Reduced -92.9k -92,932
47 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 612,669612.7k $9.8m $9.8m 0.00% Reduced -83.6k -83,555
48 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 612,531612.5k $9.8m $9.8m 0.00% New
49 Capitolis Liquid Global Markets LLC 0.06% of their portfolio NEW YORK, NY 494,100494.1k $7.9m $7.9m 0.06% New
50 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 488,496488.5k $7.8m $7.8m 0.00% Added +112.5k +112,466
51 SPX Gestao de Recursos Ltda 0.72% of their portfolio RIO DE JANEIRO, D5 477,213477.2k $7.7m $7.7m 0.72% New
52 Ninety One North America, Inc. 0.37% of their portfolio New York, NY 472,365472.4k $7.6m $7.6m 0.37% New
53 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 471,397471.4k $7.6m $7.6m 0.01% Added +129.9k +129,926
54 California Public Employees Retirement System 0.00% of their portfolio Sacramento, CA 444,854444.9k $7.1m $7.1m 0.00% Added +89.2k +89,202
55 Caisse de depot et placement du Quebec 0.01% of their portfolio Montreal, A8 433,030433.0k $6.9m $6.9m 0.01% New
56 Truffle Hound Capital, LLC 4.24% of their portfolio BETHESDA, MD 400,000400.0k $6.4m $6.4m 4.24% Unchanged
57 RHUMBLINE ADVISERS 0.01% of their portfolio BOSTON, MA 375,795375.8k $6.0m $6.0m 0.01% Reduced -44.1k -44,088
58 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 362,071362.1k $5.8m $5.8m 0.01% Added +342.0k +342,044
59 Legal & General Group Plc 0.00% of their portfolio London, X0 361,888361.9k $5.8m $5.8m 0.00% Reduced -33.6k -33,596
60 one8zero8, LLC 1.24% of their portfolio GREENSBORO, NC 327,725327.7k $5.3m $5.3m 1.24% Reduced -22.4k -22,350
61 Penserra Capital Management LLC 0.07% of their portfolio ORINDA, CA 316,060316.1k $5.1m $5.1m 0.07% Reduced -216.8k -216,754
62 PDT Partners, LLC 0.29% of their portfolio New York, NY 315,436315.4k $5.1m $5.1m 0.29% Reduced -2 -2
63 Perpetual Ltd 0.06% of their portfolio SYDNEY, NEW SOUTH WALES, C3 304,051304.1k $4.9m $4.9m 0.06% New
64 Verition Fund Management LLC 0.03% of their portfolio GREENWICH, CT 289,957290.0k $4.7m $4.7m 0.03% Added +135.7k +135,676
65 ROYCE & ASSOCIATES LP 0.05% of their portfolio New York, NY 286,949286.9k $4.6m $4.6m 0.05% New
66 SCHWARTZ INVESTMENT COUNSEL INC 0.15% of their portfolio PLYMOUTH, MI 276,200276.2k $4.4m $4.4m 0.15% Unchanged
67 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 271,354271.4k $4.4m $4.4m 0.00% Reduced -49.1k -49,118
68 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 260,915260.9k $4.2m $4.2m 0.00% Added +193.8k +193,765
69 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 256,142256.1k $4.1m $4.1m 0.00% Added +19.7k +19,723
70 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 252,513252.5k $4.1m $4.1m 0.00% Reduced -385.8k -385,770
71 Y-Intercept (Hong Kong) Ltd 0.09% of their portfolio HONG KONG, K3 236,517236.5k $3.8m $3.8m 0.09% Added +67.5k +67,459
72 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 236,289236.3k $3.8m $3.8m 0.00% Reduced -710.0k -710,025
73 HRT FINANCIAL LP 0.02% of their portfolio NEW YORK, NY 232,188232.2k $3.7m $3.7m 0.02% Reduced -710.2k -710,176
74 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 224,983225.0k $3.6m $3.6m 0.00% Reduced -36.6k -36,637
75 EXCHANGE TRADED CONCEPTS, LLC 0.05% of their portfolio Oklahoma City, OK 219,896219.9k $3.5m $3.5m 0.05% Added +175.7k +175,738
76 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 196,725196.7k $3.2m $3.2m 0.00% Reduced -1.0m -1,007,708
77 Fieldview Capital Management, LLC 0.41% of their portfolio NILES, MI 170,285170.3k $2.7m $2.7m 0.41% Reduced -36.9k -36,895
78 Constellation Investimentos e Participacoes Ltda 4.71% of their portfolio SAO PAULO, D5 163,857163.9k $2.6m $2.6m 4.71% Added +69.4k +69,357
79 Jain Global LLC 0.04% of their portfolio NEW YORK, NY 159,969160.0k $2.6m $2.6m 0.04% Added +118.1k +118,110
80 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 159,812159.8k $2.6m $2.6m 0.00% Reduced -4.7k -4,680
81 Police & Firemen's Retirement System of New Jersey 0.02% of their portfolio TRENTON, NJ 152,950152.9k $2.5m $2.5m 0.02% Reduced -6.1k -6,067
82 Verde Servicos Internacionais S.A. 1.05% of their portfolio SAO PAULO, D5 150,000150.0k $2.4m $2.4m 1.05% Added +120.0k +120,000
83 INTECH INVESTMENT MANAGEMENT LLC 0.02% of their portfolio WEST PALM BEACH, FL 148,233148.2k $2.4m $2.4m 0.02% Reduced -32.4k -32,432
84 Bridgewater Associates, LP 0.01% of their portfolio Westport, CT 144,804144.8k $2.3m $2.3m 0.01% New
85 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 144,791144.8k $2.3m $2.3m 0.00% Reduced -3.5m -3,472,525
86 MetLife Investment Management, LLC 0.01% of their portfolio Whippany, NJ 144,619144.6k $2.3m $2.3m 0.01% Reduced -24.5k -24,515
87 PenderFund Capital Management Ltd. 0.54% of their portfolio VANCOUVER, A1 141,000141.0k $2.3m $2.3m 0.54% Reduced -9.0k -9,000
88 STOREBRAND ASSET MANAGEMENT AS 0.01% of their portfolio LYSAKER, Q8 134,752134.8k $2.2m $2.2m 0.01% Unchanged
89 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 130,198130.2k $2.1m $2.1m 0.00% Added +100.7k +100,718
90 GROUP ONE TRADING LLC 0.07% of their portfolio CHICAGO, IL 125,344125.3k $2.0m $2.0m 0.07% New
91 Massar Capital Management, LP 1.50% of their portfolio STAMFORD, CT 125,000125.0k $2.0m $2.0m 1.50% Unchanged
92 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 120,938120.9k $1.9m $1.9m 0.00% Reduced -3.0k -2,999
93 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 118,816118.8k $1.9m $1.9m 0.00% Added +6.2k +6,154
94 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 110,332110.3k $1.8m $1.8m 0.00% Added +21.9k +21,878
95 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 106,339106.3k $1.7m $1.7m 0.00% New
96 SCHRODER INVESTMENT MANAGEMENT GROUP 0.00% of their portfolio London, X0 104,216104.2k $1.7m $1.7m 0.00% New
97 ZACKS INVESTMENT MANAGEMENT 0.01% of their portfolio Chicago, IL 102,435102.4k $1.6m $1.6m 0.01% New
98 SummitTX Capital, L.P. 0.07% of their portfolio FORT WORTH, TX 100,791100.8k $1.6m $1.6m 0.07% Added +53.2k +53,233
99 ExodusPoint Capital Management, LP 0.02% of their portfolio NEW YORK, NY 100,275100.3k $1.6m $1.6m 0.02% Reduced -167.0k -166,999
100 Erste Asset Management GmbH 0.01% of their portfolio VIENNA, C4 100,000100.0k $1.5m $1.5m 0.01% New