Reported relationships
Latest disclosed role at each company.
| Company | Last reported as | Report date | Published |
|---|---|---|---|
| QNB CORP.QNBC · Entity 6022 | EVP, Chief Financial Officer | February 13, 2026 | February 18, 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.
QNB CORP.
Report date February 13, 2026 · Filed February 18, 2026
| Security / award | Ownership account | Disclosed shares / units | Disclosure context |
|---|---|---|---|
| Common StockSEC Table I · non-derivative | Direct | 5,151.9661 |
Reported balance
After 2026-02-13 transaction · row 1
1 source rowRow 1 · 2026-02-13 · Grant · Acquired 750 · Balance 5,151.9661 F1: Restricted Stock Award |
| Performance-based restricted stock awardSEC Table II · derivative / convertible security · Conversion / exercise price $0.00 · Expires 2036-02-13 | Direct | 250 |
Reported balance
After 2026-02-13 transaction · row 2
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 2 · 2026-02-13 · Grant · Acquired 250 · Balance 250 |
| Performance-based restricted stock awardSEC Table II · derivative / convertible security · Conversion / exercise price $0.00 · Expires 2036-02-13 | Direct | 250 |
Reported balance
After 2026-02-13 transaction · row 3
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 3 · 2026-02-13 · Grant · Acquired 250 · Balance 250 |
| Performance-based restricted stock awardSEC Table II · derivative / convertible security · Conversion / exercise price $0.00 · Expires 2036-02-13 | Direct | 250 |
Reported balance
After 2026-02-13 transaction · row 4
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 4 · 2026-02-13 · Grant · Acquired 250 · Balance 250 |
| Common Stock(Right to Buy)SEC Table II · derivative / convertible security · Conversion / exercise price $29.51 · Expires 2033-02-15 | Direct | 160 |
Reported balance
Holding disclosure · report date 2026-02-13 · row 5
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 5 · Balance 160 |
| Common Stock(Right to Buy)SEC Table II · derivative / convertible security · Conversion / exercise price $29.51 · Expires 2033-02-15 | Direct | 160 |
Reported balance
Holding disclosure · report date 2026-02-13 · row 6
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 6 · Balance 160 |
| Common Stock(Right to Buy)SEC Table II · derivative / convertible security · Conversion / exercise price $29.51 · Expires 2033-02-15 | Direct | 160 |
Reported balance
Holding disclosure · report date 2026-02-13 · row 7
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 7 · Balance 160 |
| Common Stock(Right to Buy)SEC Table II · derivative / convertible security · Conversion / exercise price $29.51 · Expires 2033-02-15 | Direct | 160 |
Reported balance
Holding disclosure · report date 2026-02-13 · row 8
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 8 · Balance 160 |
| Common Stock(Right to Buy)SEC Table II · derivative / convertible security · Conversion / exercise price $29.51 · Expires 2033-02-15 | Direct | 160 |
Reported balance
Holding disclosure · report date 2026-02-13 · row 9
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 9 · Balance 160 |
| Common Stock(Right to Buy)SEC Table II · derivative / convertible security · Conversion / exercise price $23.40 · Expires 2034-02-15 | Direct | 600 |
Reported balance
Holding disclosure · report date 2026-02-13 · row 10
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 10 · Balance 600 |
| Common Stock(Right to Buy)SEC Table II · derivative / convertible security · Conversion / exercise price $23.40 · Expires 2034-02-15 | Direct | 600 |
Reported balance
Holding disclosure · report date 2026-02-13 · row 11
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 11 · Balance 600 |
| Common Stock(Right to Buy)SEC Table II · derivative / convertible security · Conversion / exercise price $23.40 · Expires 2034-02-15 | Direct | 600 |
Reported balance
Holding disclosure · report date 2026-02-13 · row 12
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 12 · Balance 600 |
| Common Stock(Right to Buy)SEC Table II · derivative / convertible security · Conversion / exercise price $23.40 · Expires 2034-02-15 | Direct | 600 |
Reported balance
Holding disclosure · report date 2026-02-13 · row 13
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 13 · Balance 600 |
| Common Stock(Right to Buy)SEC Table II · derivative / convertible security · Conversion / exercise price $23.40 · Expires 2034-02-15 | Direct | 600 |
Reported balance
Holding disclosure · report date 2026-02-13 · row 14
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 14 · Balance 600 |
| Common Stock(Right to Buy)SEC Table II · derivative / convertible security · Conversion / exercise price $33.50 · Expires 2035-02-14 | Direct | 860 |
Reported balance
Holding disclosure · report date 2026-02-13 · row 15
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 15 · Balance 860 |
| Common Stock(Right to Buy)SEC Table II · derivative / convertible security · Conversion / exercise price $33.50 · Expires 2035-02-14 | Direct | 860 |
Reported balance
Holding disclosure · report date 2026-02-13 · row 16
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 16 · Balance 860 |
| Common Stock(Right to Buy)SEC Table II · derivative / convertible security · Conversion / exercise price $33.50 · Expires 2035-02-14 | Direct | 860 |
Reported balance
Holding disclosure · report date 2026-02-13 · row 17
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 17 · Balance 860 |
| Common Stock(Right to Buy)SEC Table II · derivative / convertible security · Conversion / exercise price $33.50 · Expires 2035-02-14 | Direct | 860 |
Reported balance
Holding disclosure · report date 2026-02-13 · row 18
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 18 · Balance 860 |
| Common Stock(Right to Buy)SEC Table II · derivative / convertible security · Conversion / exercise price $33.50 · Expires 2035-02-14 | Direct | 860 |
Reported balance
Holding disclosure · report date 2026-02-13 · row 19
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 19 · Balance 860 |
Filing footnotes · ownership attribution and instrument terms
F1: Restricted Stock Award
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 |
|---|---|---|---|---|---|---|
| February 13, 2026 Filed Feb 18, 2026 19:52 UTC | QNB CORP. QNBC · Entity 6022 | GrantPerformance-based restricted stock award · Derivative | 250 | $38.00 Strike: $0.00 | $9,500.00 |
DisclosureSEC source: 0001953400-26-000003 · primary_doc.xml · derivative · entry 4 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 250 Underlying: Common Stock · 250 shares Expires 2036-02-13 Read SEC document |
| February 13, 2026 Filed Feb 18, 2026 19:52 UTC | QNB CORP. QNBC · Entity 6022 | GrantPerformance-based restricted stock award · Derivative | 250 | $38.00 Strike: $0.00 | $9,500.00 |
DisclosureSEC source: 0001953400-26-000003 · primary_doc.xml · derivative · entry 3 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 250 Underlying: Common Stock · 250 shares Expires 2036-02-13 Read SEC document |
| February 13, 2026 Filed Feb 18, 2026 19:52 UTC | QNB CORP. QNBC · Entity 6022 | GrantPerformance-based restricted stock award · Derivative | 250 | $38.00 Strike: $0.00 | $9,500.00 |
DisclosureSEC source: 0001953400-26-000003 · primary_doc.xml · derivative · entry 2 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 250 Underlying: Common Stock · 250 shares Expires 2036-02-13 Read SEC document |
| February 13, 2026 Filed Feb 18, 2026 19:52 UTC | QNB CORP. QNBC · Entity 6022 | GrantCommon Stock | 750 | $38.00 | $28,500.00 |
DisclosureSEC source: 0001953400-26-000003 · primary_doc.xml · nonDerivative · entry 1 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 5,151.9661 F1 · shares: Restricted Stock Award Read SEC document |
| December 26, 2025 Filed Jan 27, 2026 20:16 UTC | QNB CORP. QNBC · Entity 6022 | PurchaseCommon Stock | 9.7124 | $34.91 | $339.06 |
DisclosureSEC source: 0001953400-26-000002 · primary_doc.xml · nonDerivative · entry 5 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 4,401.9661 F2 · shares: Dividend Reinvestment Plan Acquisition Read SEC document |
| November 28, 2025 Filed Jan 27, 2026 20:16 UTC | QNB CORP. QNBC · Entity 6022 | PurchaseCommon Stock | 189 | $29.81 | $5,634.09 |
DisclosureSEC source: 0001953400-26-000002 · primary_doc.xml · nonDerivative · entry 4 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 4,392.2537 F1 · shares: Employee Stock Purchase Plan Acquisition Read SEC document |
| September 26, 2025 Filed Jan 27, 2026 20:16 UTC | QNB CORP. QNBC · Entity 6022 | PurchaseCommon Stock | 7.4542 | $35.47 | $264.40 |
DisclosureSEC source: 0001953400-26-000002 · primary_doc.xml · nonDerivative · entry 3 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 4,203.2537 F2 · shares: Dividend Reinvestment Plan Acquisition Read SEC document |
| June 27, 2025 Filed Jan 27, 2026 20:16 UTC | QNB CORP. QNBC · Entity 6022 | PurchaseCommon Stock | 7.7995 | $33.52 | $261.44 |
DisclosureSEC source: 0001953400-26-000002 · primary_doc.xml · nonDerivative · entry 2 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 4,195.7995 F2 · shares: Dividend Reinvestment Plan Acquisition Read SEC document |
| May 30, 2025 Filed Jan 27, 2026 20:16 UTC | QNB CORP. QNBC · Entity 6022 | PurchaseCommon Stock | 190 | $28.80 | $5,472.00 |
DisclosureSEC source: 0001953400-26-000002 · primary_doc.xml · nonDerivative · entry 1 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 4,188 F1 · shares: Employee Stock Purchase Plan Acquisition Read SEC document |
| February 25, 2025 Filed Feb 25, 2025 19:45 UTC | QNB CORP. QNBC · Entity 6022 | PurchaseCommon Stock | 1,500 | $35.00 | $52,500.00 |
DisclosureSEC source: 0001953400-25-000021 · primary_doc.xml · nonDerivative · entry 3 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 3,998 Read SEC document |
| February 21, 2025 Filed Feb 25, 2025 19:45 UTC | QNB CORP. QNBC · Entity 6022 | PurchaseCommon Stock | 400 | $35.00 | $14,000.00 |
DisclosureSEC source: 0001953400-25-000021 · primary_doc.xml · nonDerivative · entry 2 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 2,498 Read SEC document |
| February 21, 2025 Filed Feb 25, 2025 19:45 UTC | QNB CORP. QNBC · Entity 6022 | PurchaseCommon Stock | 1,100 | $34.10 | $37,510.00 |
DisclosureSEC source: 0001953400-25-000021 · primary_doc.xml · nonDerivative · entry 1 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 2,098 Read SEC document |
| February 20, 2025 Filed Feb 20, 2025 21:11 UTC | QNB CORP. QNBC · Entity 6022 | PurchaseCommon Stock | 500 | $34.10 | $17,050.00 |
DisclosureSEC source: 0001953400-25-000020 · primary_doc.xml · nonDerivative · entry 1 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 998 Read SEC document |
| February 14, 2025 Filed Feb 18, 2025 19:38 UTC | QNB CORP. QNBC · Entity 6022 | GrantCommon Stock(Right to Buy) · Derivative | 860 | $33.50 Strike: $33.50 | $28,810.00 |
DisclosureSEC source: 0001953400-25-000017 · primary_doc.xml · derivative · entry 6 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 860 Underlying: Common Stock · 860 shares Expires 2035-02-14 Read SEC document |
| February 14, 2025 Filed Feb 18, 2025 19:38 UTC | QNB CORP. QNBC · Entity 6022 | GrantCommon Stock(Right to Buy) · Derivative | 860 | $33.50 Strike: $33.50 | $28,810.00 |
DisclosureSEC source: 0001953400-25-000017 · primary_doc.xml · derivative · entry 5 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 860 Underlying: Common Stock · 860 shares Expires 2035-02-14 Read SEC document |
| February 14, 2025 Filed Feb 18, 2025 19:38 UTC | QNB CORP. QNBC · Entity 6022 | GrantCommon Stock(Right to Buy) · Derivative | 860 | $33.50 Strike: $33.50 | $28,810.00 |
DisclosureSEC source: 0001953400-25-000017 · primary_doc.xml · derivative · entry 4 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 860 Underlying: Common Stock · 860 shares Expires 2035-02-14 Read SEC document |
| February 14, 2025 Filed Feb 18, 2025 19:38 UTC | QNB CORP. QNBC · Entity 6022 | GrantCommon Stock(Right to Buy) · Derivative | 860 | $33.50 Strike: $33.50 | $28,810.00 |
DisclosureSEC source: 0001953400-25-000017 · primary_doc.xml · derivative · entry 3 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 860 Underlying: Common Stock · 860 shares Expires 2035-02-14 Read SEC document |
| February 14, 2025 Filed Feb 18, 2025 19:38 UTC | QNB CORP. QNBC · Entity 6022 | GrantCommon Stock(Right to Buy) · Derivative | 860 | $33.50 Strike: $33.50 | $28,810.00 |
DisclosureSEC source: 0001953400-25-000017 · primary_doc.xml · derivative · entry 2 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 860 Underlying: Common Stock · 860 shares Expires 2035-02-14 Read SEC document |
| November 29, 2024 Filed Jan 10, 2025 17:19 UTC | QNB CORP. QNBC · Entity 6022 | PurchaseCommon Stock | 244 | $20.88 | $5,094.72 |
DisclosureSEC source: 0001953400-25-000013 · primary_doc.xml · nonDerivative · entry 2 Lehocky Jeffrey · CIK 0001953400 · EVP Chief Operating Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 498 F1 · shares: Employee Stock Purchase Plan Acquisition Read SEC document |
| May 31, 2024 Filed Jan 10, 2025 17:19 UTC | QNB CORP. QNBC · Entity 6022 | PurchaseCommon Stock | 254 | $19.80 | $5,029.20 |
DisclosureSEC source: 0001953400-25-000013 · primary_doc.xml · nonDerivative · entry 1 Lehocky Jeffrey · CIK 0001953400 · EVP Chief Operating Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 254 F1 · shares: Employee Stock Purchase Plan Acquisition Read SEC document |
| February 15, 2024 Filed Apr 1, 2024 19:14 UTC | QNB CORP. QNBC · Entity 6022 | GrantCommon Stock (Right to Buy) · Derivative | 600 | $23.40 Strike: $23.40 | $14,040.00 |
DisclosureSEC source: 0001953400-24-000013 · primary_doc.xml · derivative · entry 6 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 600 Underlying: Common Stock · 600 shares Expires 2034-02-15 Read SEC document |
| February 15, 2024 Filed Apr 1, 2024 19:14 UTC | QNB CORP. QNBC · Entity 6022 | GrantCommon Stock (Right to Buy) · Derivative | 600 | $23.40 Strike: $23.40 | $14,040.00 |
DisclosureSEC source: 0001953400-24-000013 · primary_doc.xml · derivative · entry 5 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 600 Underlying: Common Stock · 600 shares Expires 2034-02-15 Read SEC document |
| February 15, 2024 Filed Apr 1, 2024 19:14 UTC | QNB CORP. QNBC · Entity 6022 | GrantCommon Stock (Right to Buy) · Derivative | 600 | $23.40 Strike: $23.40 | $14,040.00 |
DisclosureSEC source: 0001953400-24-000013 · primary_doc.xml · derivative · entry 4 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 600 Underlying: Common Stock · 600 shares Expires 2034-02-15 Read SEC document |
| February 15, 2024 Filed Apr 1, 2024 19:14 UTC | QNB CORP. QNBC · Entity 6022 | GrantCommon Stock (Right to Buy) · Derivative | 600 | $23.40 Strike: $23.40 | $14,040.00 |
DisclosureSEC source: 0001953400-24-000013 · primary_doc.xml · derivative · entry 3 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 600 Underlying: Common Stock · 600 shares Expires 2034-02-15 Read SEC document |
| February 15, 2024 Filed Apr 1, 2024 19:14 UTC | QNB CORP. QNBC · Entity 6022 | GrantCommon Stock (Right to Buy) · Derivative | 600 | $23.40 Strike: $23.40 | $14,040.00 |
DisclosureSEC source: 0001953400-24-000013 · primary_doc.xml · derivative · entry 2 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 600 Underlying: Common Stock · 600 shares Expires 2034-02-15 Read SEC document |
| February 15, 2023 Filed Feb 16, 2023 20:14 UTC | QNB CORP. QNBC · Entity 6022 | GrantCommon Stock (Right to Buy) · Derivative | 160 | $29.51 Strike: $29.51 | $4,721.60 |
DisclosureSEC source: 0001953400-23-000011 · primary_doc.xml · derivative · entry 6 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 160 Underlying: Common Stock · 160 shares Expires 2033-02-15 Read SEC document |
| February 15, 2023 Filed Feb 16, 2023 20:14 UTC | QNB CORP. QNBC · Entity 6022 | GrantCommon Stock (Right to Buy) · Derivative | 160 | $29.51 Strike: $29.51 | $4,721.60 |
DisclosureSEC source: 0001953400-23-000011 · primary_doc.xml · derivative · entry 5 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 160 Underlying: Common Stock · 160 shares Expires 2033-02-15 Read SEC document |
| February 15, 2023 Filed Feb 16, 2023 20:14 UTC | QNB CORP. QNBC · Entity 6022 | GrantCommon Stock (Right to Buy) · Derivative | 160 | $29.51 Strike: $29.51 | $4,721.60 |
DisclosureSEC source: 0001953400-23-000011 · primary_doc.xml · derivative · entry 4 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 160 Underlying: Common Stock · 160 shares Expires 2033-02-15 Read SEC document |
| February 15, 2023 Filed Feb 16, 2023 20:14 UTC | QNB CORP. QNBC · Entity 6022 | GrantCommon Stock (Right to Buy) · Derivative | 160 | $29.51 Strike: $29.51 | $4,721.60 |
DisclosureSEC source: 0001953400-23-000011 · primary_doc.xml · derivative · entry 3 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 160 Underlying: Common Stock · 160 shares Expires 2033-02-15 Read SEC document |
| February 15, 2023 Filed Feb 16, 2023 20:14 UTC | QNB CORP. QNBC · Entity 6022 | GrantCommon Stock (Right to Buy) · Derivative | 160 | $29.51 Strike: $29.51 | $4,721.60 |
DisclosureSEC source: 0001953400-23-000011 · primary_doc.xml · derivative · entry 2 Lehocky Jeffrey · CIK 0001953400 · EVP, Chief Financial Officer 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 160 Underlying: Common Stock · 160 shares Expires 2033-02-15 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.