Reported relationships
Latest disclosed role at each company.
| Company | Last reported as | Report date | Published |
|---|---|---|---|
| Axsome Therapeutics, Inc.AXSM · Entity 2469 | General Counsel | April 21, 2026 | April 24, 2026 |
Disclosed balances
About these balances
Latest available filing per company, not a reconstructed current portfolio. Matching sequences show the last reported balance with all source rows expandable; grouping alone does not establish account ownership. Do not add unresolved positions together. Filings may omit unchanged positions, and amendments may correct only part of an older disclosure. Jointly reported shares are not necessarily this owner's personal holdings.
Axsome Therapeutics, Inc.
Report date April 21, 2026 · Filed April 24, 2026
| Security / award | Ownership account | Disclosed shares / units | Disclosure context |
|---|---|---|---|
| Performance Stock UnitsSEC Table II · derivative / convertible security | Direct | 7,224 |
Reported balance
After 2026-04-21 transaction · row 1
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 1 · 2026-04-21 · Grant · Acquired 7,224 · Balance 7,224 F1: Each performance stock unit ("PSU") represents a contingent right to receive one share of the Issuer's common stock. F2: Each PSU will vest upon achievement of certain sales and commercial launch milestones, subject to the reporting person's continued service as of each vesting date. |
Filing footnotes · ownership attribution and instrument terms
F1: Each performance stock unit ("PSU") represents a contingent right to receive one share of the Issuer's common stock.
F2: Each PSU will vest upon achievement of certain sales and commercial launch milestones, subject to the reporting person's continued service as of each vesting date.
Transaction history
JSON APIPurchases/sales include open-market and private transactions. Plan disclosure applies to the filing; individual rows may differ. “Not disclosed” is not “unplanned.”
The cutoff filters transaction history only. Company summaries and owner relationships show the latest available disclosures. Parser corrections can improve historical records.
| Transaction date | Company | Activity / security | Shares / units | Reported price | Reported value | Details |
|---|---|---|---|---|---|---|
| April 21, 2026 Filed Apr 24, 2026 01:00 UTC | Axsome Therapeutics, Inc. AXSM · Entity 2469 | GrantPerformance Stock Units · Derivative | 7,224 | $0.00 | $0.00 |
DisclosureSEC source: 0001193125-26-174411 · ownership.xml · derivative · entry 1 Murdock Hunter R. · CIK 0001934008 · General Counsel 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 7,224 Underlying: Common Stock · 7,224 shares Expires not disclosed F1 · derivative.exercise_price: Each performance stock unit ("PSU") represents a contingent right to receive one share of the Issuer's common stock. F2 · derivative.exercise_date: Each PSU will vest upon achievement of certain sales and commercial launch milestones, subject to the reporting person's continued service as of each vesting date. F2 · derivative.expiration_date: Each PSU will vest upon achievement of certain sales and commercial launch milestones, subject to the reporting person's continued service as of each vesting date. Read SEC document |
| February 26, 2026 Filed Feb 28, 2026 00:10 UTC | Axsome Therapeutics, Inc. AXSM · Entity 2469 | GrantRestricted Stock Units · Derivative | 16,385 | $0.00 | $0.00 |
DisclosureSEC source: 0001193125-26-083607 · ownership.xml · derivative · entry 1 Murdock Hunter R. · CIK 0001934008 · General Counsel 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 16,385 Underlying: Common Stock · 16,385 shares Expires 2036-02-26 F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock. F2 · derivative.exercise_date: 25% of the RSUs will vest on the one (1) year anniversary of the date of grant. The remaining RSUs will vest in three substantially equal annual installments, such that the RSUs will be fully vested on February 26, 2030. Vested shares will be delivered to the reporting person upon the earlier of (i) the closing of a Change in Control (as defined in the Issuer's 2025 Long-Term Incentive Plan ("2025 Plan")), (ii) the reporting person's separation of service from the Issuer (including termination with or without Cause (as defined in the 2025 Plan), or termination due to death or Total and Permanent Disability (as defined in the 2025 Plan)), or (iii) seven (7) years from the date of grant. Read SEC document |
| June 23, 2025 Filed Jun 23, 2025 23:42 UTC | Axsome Therapeutics, Inc. AXSM · Entity 2469 | Exercise / conversionStock Option (Right to Buy) · Derivative | 6,014 | $0.00 Strike: $29.91 | $0.00 |
DisclosureSEC source: 0000950170-25-089158 · ownership.xml · derivative · entry 6 Murdock Hunter R. · CIK 0001934008 · General Counsel 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 16,369 Underlying: Common Stock · 6,014 shares Expires 2032-03-04 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F1 · kind: Such transaction was pursuant to a pre-approved 10b5-1 plan which has now been completed. Read SEC document |
| June 23, 2025 Filed Jun 23, 2025 23:42 UTC | Axsome Therapeutics, Inc. AXSM · Entity 2469 | SaleCommon Stock | 6,014 | $100.12 | $602,121.68 |
DisclosureSEC source: 0000950170-25-089158 · ownership.xml · nonDerivative · entry 4 Murdock Hunter R. · CIK 0001934008 · General Counsel 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 0 F1 · kind: Such transaction was pursuant to a pre-approved 10b5-1 plan which has now been completed. F2 · kind: Represents the subsequent sale of the underlying shares of the aforementioned exercise of stock options. F4 · price: Represents the weighted average sale price of a series of open market transactions with sale prices ranging between $100.00 and $100.67. Read SEC document |
| June 23, 2025 Filed Jun 23, 2025 23:42 UTC | Axsome Therapeutics, Inc. AXSM · Entity 2469 | Exercise / conversionCommon Stock | 6,014 | $29.91 | $179,878.74 |
DisclosureSEC source: 0000950170-25-089158 · ownership.xml · nonDerivative · entry 3 Murdock Hunter R. · CIK 0001934008 · General Counsel 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 6,014 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F1 · kind: Such transaction was pursuant to a pre-approved 10b5-1 plan which has now been completed. Read SEC document |
| June 20, 2025 Filed Jun 23, 2025 23:42 UTC | Axsome Therapeutics, Inc. AXSM · Entity 2469 | Exercise / conversionStock Option (Right to Buy) · Derivative | 7,500 | $0.00 Strike: $29.91 | $0.00 |
DisclosureSEC source: 0000950170-25-089158 · ownership.xml · derivative · entry 5 Murdock Hunter R. · CIK 0001934008 · General Counsel 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 22,383 Underlying: Common Stock · 7,500 shares Expires 2032-03-04 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F1 · kind: Such transaction was pursuant to a pre-approved 10b5-1 plan which has now been completed. Read SEC document |
| June 20, 2025 Filed Jun 23, 2025 23:42 UTC | Axsome Therapeutics, Inc. AXSM · Entity 2469 | SaleCommon Stock | 7,500 | $102.47 | $768,525.00 |
DisclosureSEC source: 0000950170-25-089158 · ownership.xml · nonDerivative · entry 2 Murdock Hunter R. · CIK 0001934008 · General Counsel 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 0 F1 · kind: Such transaction was pursuant to a pre-approved 10b5-1 plan which has now been completed. F2 · kind: Represents the subsequent sale of the underlying shares of the aforementioned exercise of stock options. F3 · price: Represents the weighted average sale price of a series of open market transactions with sale prices ranging between $101.84 and $103.07 Read SEC document |
| June 20, 2025 Filed Jun 23, 2025 23:42 UTC | Axsome Therapeutics, Inc. AXSM · Entity 2469 | Exercise / conversionCommon Stock | 7,500 | $29.91 | $224,325.00 |
DisclosureSEC source: 0000950170-25-089158 · ownership.xml · nonDerivative · entry 1 Murdock Hunter R. · CIK 0001934008 · General Counsel 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 7,500 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F1 · kind: Such transaction was pursuant to a pre-approved 10b5-1 plan which has now been completed. Read SEC document |
| June 18, 2025 Filed Jun 19, 2025 01:16 UTC | Axsome Therapeutics, Inc. AXSM · Entity 2469 | Exercise / conversionStock Option (Right to Buy) · Derivative | 7,500 | $0.00 Strike: $29.91 | $0.00 |
DisclosureSEC source: 0000950170-25-088105 · ownership.xml · derivative · entry 9 Murdock Hunter R. · CIK 0001934008 · General Counsel 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 29,883 Underlying: Common Stock · 7,500 shares Expires 2032-03-04 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F1 · kind: Such transaction was pursuant to a pre-approved 10b5-1 plan. Read SEC document |
| June 18, 2025 Filed Jun 19, 2025 01:16 UTC | Axsome Therapeutics, Inc. AXSM · Entity 2469 | SaleCommon Stock | 7,500 | $100.90 | $756,750.00 |
DisclosureSEC source: 0000950170-25-088105 · ownership.xml · nonDerivative · entry 6 Murdock Hunter R. · CIK 0001934008 · General Counsel 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 0 F1 · kind: Such transaction was pursuant to a pre-approved 10b5-1 plan. F2 · kind: Represents the subsequent sale of the underlying shares of the aforementioned exercise of stock options. F5 · price: Represents the weighted average sale price of a series of open market transactions with sale prices ranging between $100.00 and $101.96. Read SEC document |
| June 18, 2025 Filed Jun 19, 2025 01:16 UTC | Axsome Therapeutics, Inc. AXSM · Entity 2469 | Exercise / conversionCommon Stock | 7,500 | $29.91 | $224,325.00 |
DisclosureSEC source: 0000950170-25-088105 · ownership.xml · nonDerivative · entry 5 Murdock Hunter R. · CIK 0001934008 · General Counsel 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 7,500 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F1 · kind: Such transaction was pursuant to a pre-approved 10b5-1 plan. Read SEC document |
| June 17, 2025 Filed Jun 19, 2025 01:16 UTC | Axsome Therapeutics, Inc. AXSM · Entity 2469 | Exercise / conversionStock Option (Right to Buy) · Derivative | 7,500 | $0.00 Strike: $29.91 | $0.00 |
DisclosureSEC source: 0000950170-25-088105 · ownership.xml · derivative · entry 8 Murdock Hunter R. · CIK 0001934008 · General Counsel 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 37,383 Underlying: Common Stock · 7,500 shares Expires 2032-03-04 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F1 · kind: Such transaction was pursuant to a pre-approved 10b5-1 plan. Read SEC document |
| June 17, 2025 Filed Jun 19, 2025 01:16 UTC | Axsome Therapeutics, Inc. AXSM · Entity 2469 | SaleCommon Stock | 7,500 | $100.26 | $751,950.00 |
DisclosureSEC source: 0000950170-25-088105 · ownership.xml · nonDerivative · entry 4 Murdock Hunter R. · CIK 0001934008 · General Counsel 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 0 F1 · kind: Such transaction was pursuant to a pre-approved 10b5-1 plan. F2 · kind: Represents the subsequent sale of the underlying shares of the aforementioned exercise of stock options. F4 · price: Represents the weighted average sale price of a series of open market transactions with sale prices ranging between $100.00 and $101.53. Read SEC document |
| June 17, 2025 Filed Jun 19, 2025 01:16 UTC | Axsome Therapeutics, Inc. AXSM · Entity 2469 | Exercise / conversionCommon Stock | 7,500 | $29.91 | $224,325.00 |
DisclosureSEC source: 0000950170-25-088105 · ownership.xml · nonDerivative · entry 3 Murdock Hunter R. · CIK 0001934008 · General Counsel 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 7,500 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F1 · kind: Such transaction was pursuant to a pre-approved 10b5-1 plan. Read SEC document |
| June 16, 2025 Filed Jun 19, 2025 01:16 UTC | Axsome Therapeutics, Inc. AXSM · Entity 2469 | Exercise / conversionStock Option (Right to Buy) · Derivative | 7,500 | $0.00 Strike: $29.91 | $0.00 |
DisclosureSEC source: 0000950170-25-088105 · ownership.xml · derivative · entry 7 Murdock Hunter R. · CIK 0001934008 · General Counsel 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 44,883 Underlying: Common Stock · 7,500 shares Expires 2032-03-04 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F1 · kind: Such transaction was pursuant to a pre-approved 10b5-1 plan. Read SEC document |
| June 16, 2025 Filed Jun 19, 2025 01:16 UTC | Axsome Therapeutics, Inc. AXSM · Entity 2469 | SaleCommon Stock | 7,500 | $102.42 | $768,150.00 |
DisclosureSEC source: 0000950170-25-088105 · ownership.xml · nonDerivative · entry 2 Murdock Hunter R. · CIK 0001934008 · General Counsel 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 0 F1 · kind: Such transaction was pursuant to a pre-approved 10b5-1 plan. F2 · kind: Represents the subsequent sale of the underlying shares of the aforementioned exercise of stock options. F3 · price: Represents the weighted average sale price of a series of open market transactions with sale prices ranging between $101.01 and $104.09 Read SEC document |
| June 16, 2025 Filed Jun 19, 2025 01:16 UTC | Axsome Therapeutics, Inc. AXSM · Entity 2469 | Exercise / conversionCommon Stock | 7,500 | $29.91 | $224,325.00 |
DisclosureSEC source: 0000950170-25-088105 · ownership.xml · nonDerivative · entry 1 Murdock Hunter R. · CIK 0001934008 · General Counsel 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 7,500 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F1 · kind: Such transaction was pursuant to a pre-approved 10b5-1 plan. Read SEC document |
| February 24, 2025 Filed Feb 26, 2025 00:56 UTC | Axsome Therapeutics, Inc. AXSM · Entity 2469 | GrantPerformance Stock Units · Derivative | 7,740 | $0.00 | $0.00 |
DisclosureSEC source: 0000950170-25-027072 · ownership.xml · derivative · entry 3 Murdock Hunter R. · CIK 0001934008 · General Counsel 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 7,740 Underlying: Common Stock · 7,740 shares Expires not disclosed F4 · derivative.exercise_price: Each performance stock unit ("PSU") represents a contingent right to receive one share of the Issuer's common stock. F5 · derivative.exercise_date: Each PSU will vest upon achievement of certain financial, regulatory and developmental performance milestones, subject to the reporting person's continued service as of each vesting date. F5 · derivative.expiration_date: Each PSU will vest upon achievement of certain financial, regulatory and developmental performance milestones, subject to the reporting person's continued service as of each vesting date. Read SEC document |
| February 21, 2025 Filed Feb 26, 2025 00:56 UTC | Axsome Therapeutics, Inc. AXSM · Entity 2469 | GrantRestricted Stock Units · Derivative | 7,740 | $0.00 | $0.00 |
DisclosureSEC source: 0000950170-25-027072 · ownership.xml · derivative · entry 2 Murdock Hunter R. · CIK 0001934008 · General Counsel 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 7,740 Underlying: Common Stock · 7,740 shares Expires not disclosed F2 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock. F3 · derivative.exercise_date: 25% of the RSUs will vest on the one (1) year anniversary of the date of grant. The remaining RSUs will vest in three substantially equal annual installments, such that the RSUs will be fully vested on February 21, 2029. Vested shares will be delivered to the reporting person upon the earlier of (i) the closing of a Change in Control (as defined in the Issuer's Amended and Restated 2015 Omnibus Incentive Compensation Plan (the "Plan"), (ii) the reporting person's separation of service from the Issuer (including termination with or without Cause (as defined in the Plan), or termination due to death or disability), or (iii) seven (7) years from the date of grant. F3 · derivative.expiration_date: 25% of the RSUs will vest on the one (1) year anniversary of the date of grant. The remaining RSUs will vest in three substantially equal annual installments, such that the RSUs will be fully vested on February 21, 2029. Vested shares will be delivered to the reporting person upon the earlier of (i) the closing of a Change in Control (as defined in the Issuer's Amended and Restated 2015 Omnibus Incentive Compensation Plan (the "Plan"), (ii) the reporting person's separation of service from the Issuer (including termination with or without Cause (as defined in the Plan), or termination due to death or disability), or (iii) seven (7) years from the date of grant. Read SEC document |
| February 21, 2025 Filed Feb 26, 2025 00:56 UTC | Axsome Therapeutics, Inc. AXSM · Entity 2469 | GrantEmployee Stock Option (Right to Buy) · Derivative | 7,816 | $0.00 Strike: $137.75 | $0.00 |
DisclosureSEC source: 0000950170-25-027072 · ownership.xml · derivative · entry 1 Murdock Hunter R. · CIK 0001934008 · General Counsel 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 7,816 Underlying: Common Stock · 7,816 shares Expires 2035-02-20 F1 · derivative.exercise_date: The option will vest in substantially equal quarterly installments over four years such that the option will be fully vested on February 21, 2029. Read SEC document |
| February 27, 2024 Filed Feb 29, 2024 22:39 UTC | Axsome Therapeutics, Inc. AXSM · Entity 2469 | GrantRestricted Stock Units · Derivative | 12,956 | $0.00 | $0.00 |
DisclosureSEC source: 0000950170-24-023302 · ownership.xml · derivative · entry 2 Murdock Hunter R. · CIK 0001934008 · General Counsel 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 12,956 Underlying: Common Stock · 12,956 shares Expires not disclosed F2 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock. F3 · derivative.exercise_date: 25% of the RSUs will vest on the one (1) year anniversary of the date of grant. The remaining RSUs will vest in in three substantially equal annual installments, such that the RSUs will be fully vested on February 27, 2028. Vested shares will be delivered to the reporting person upon the earlier of (i) the closing of a Change in Control (as defined in the Issuer's Amended and Restated 2015 Omnibus Incentive Compensation Plan (the "Plan"), (ii) the reporting person's separation of service from the Issuer (including termination with or without Cause (as defined in the Plan), or termination due to death or disability), or (iii) seven (7) years from the date of grant. F3 · derivative.expiration_date: 25% of the RSUs will vest on the one (1) year anniversary of the date of grant. The remaining RSUs will vest in in three substantially equal annual installments, such that the RSUs will be fully vested on February 27, 2028. Vested shares will be delivered to the reporting person upon the earlier of (i) the closing of a Change in Control (as defined in the Issuer's Amended and Restated 2015 Omnibus Incentive Compensation Plan (the "Plan"), (ii) the reporting person's separation of service from the Issuer (including termination with or without Cause (as defined in the Plan), or termination due to death or disability), or (iii) seven (7) years from the date of grant. Read SEC document |
| February 27, 2024 Filed Feb 29, 2024 22:39 UTC | Axsome Therapeutics, Inc. AXSM · Entity 2469 | GrantEmployee Stock Option (Right to Buy) · Derivative | 23,593 | $0.00 Strike: $84.00 | $0.00 |
DisclosureSEC source: 0000950170-24-023302 · ownership.xml · derivative · entry 1 Murdock Hunter R. · CIK 0001934008 · General Counsel 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 23,593 Underlying: Common Stock · 23,593 shares Expires 2034-02-26 F1 · derivative.exercise_date: The option will vest in substantially equal quarterly installments over four years such that the option will be fully vested on February 27, 2028. Read SEC document |
| March 02, 2023 Filed Mar 6, 2023 23:14 UTC | Axsome Therapeutics, Inc. AXSM · Entity 2469 | GrantRestricted Stock Units · Derivative | 16,883 | $0.00 | $0.00 |
DisclosureSEC source: 0001209191-23-016456 · doc4.xml · derivative · entry 2 Murdock Hunter R. · CIK 0001934008 · General Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 16,883 Underlying: Common Stock · 16,883 shares Expires not disclosed F2 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock. F3 · derivative.exercise_date: 25% of the RSUs will vest on the one (1) year anniversary of the date of grant. The remaining RSUs will vest in in three substantially equal annual installments, such that the RSUs will be fully vested on March 2, 2027. Vested shares will be delivered to the reporting person upon the earlier of (i) the closing of a Change in Control (as defined in the Issuer's Amended and Restated 2015 Omnibus Incentive Compensation Plan (the "Plan"), (ii) the reporting person's separation of service from the Issuer (including termination with or without Cause (as defined in the Plan), or termination due to death or disability), or (iii) seven (7) years from the date of grant. F3 · derivative.expiration_date: 25% of the RSUs will vest on the one (1) year anniversary of the date of grant. The remaining RSUs will vest in in three substantially equal annual installments, such that the RSUs will be fully vested on March 2, 2027. Vested shares will be delivered to the reporting person upon the earlier of (i) the closing of a Change in Control (as defined in the Issuer's Amended and Restated 2015 Omnibus Incentive Compensation Plan (the "Plan"), (ii) the reporting person's separation of service from the Issuer (including termination with or without Cause (as defined in the Plan), or termination due to death or disability), or (iii) seven (7) years from the date of grant. Read SEC document |
| March 02, 2023 Filed Mar 6, 2023 23:14 UTC | Axsome Therapeutics, Inc. AXSM · Entity 2469 | GrantEmployee Stock Option (Right to Buy) · Derivative | 29,773 | $0.00 Strike: $65.32 | $0.00 |
DisclosureSEC source: 0001209191-23-016456 · doc4.xml · derivative · entry 1 Murdock Hunter R. · CIK 0001934008 · General Counsel 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 29,773 Underlying: Common Stock · 29,773 shares Expires 2033-03-01 F1 · derivative.exercise_date: The option will vest in substantially equal quarterly installments over four years such that the option will be fully vested on March 2, 2027. Read SEC document |
Value uses the disclosed total when available, otherwise shares × reported transaction price. It is not an estimate of exercise cash cost or investment performance.