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Oxford Science Enterprises plc

Disclosed activity across 2 companies

Tapewire entity
74731
SEC CIK
0001856079

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Reported relationships

Latest disclosed role at each company.

No relationships currently tracked through insider filings.

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.

No balances currently tracked through insider filings.

Past disclosures · reporting ended (2)

No longer tracked through insider filings. These historical balances do not imply present ownership or a zero position.

Barinthus Biotherapeutics plc.

Report date September 09, 2026 · Filed September 11, 2026 · Amendment

Section 16 reporting ended · disclosed 2026-09-11. Current position is not established by this disclosure.

Amendment: balances below belong to this corrected disclosure, not necessarily a complete replacement of earlier positions.

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Ordinary SharesSEC Table I · non-derivativeDirect0 Reported balance After 2026-09-09 transaction · row 1 Amendment: may correct only part of an earlier disclosure.
1 source row

Row 1 · 2026-09-09 · Other · Disposed 8,797,770 · Balance 0

F1: Ordinary Shares may be represented by American Depositary Shares, each of which represents one Ordinary Share.

F2: Pursuant to the terms of the Merger Agreement between Barinthus Biotherapeutics plc (the "Issuer") and Clywedog Therapeutics, Inc., the Issuer's board of directors has determined that each of the Issuer's outstanding Ordinary Shares (represented by American Depositary Shares) will be converted into the right to receive 0.111 shares of Beacon Topco, Inc.'s common stock, plus cash in lieu of any fractional shares resulting from the exchange, in accordance with the scheme of arrangement.

Filing footnotes · ownership attribution and instrument terms

F1: Ordinary Shares may be represented by American Depositary Shares, each of which represents one Ordinary Share.

F2: Pursuant to the terms of the Merger Agreement between Barinthus Biotherapeutics plc (the "Issuer") and Clywedog Therapeutics, Inc., the Issuer's board of directors has determined that each of the Issuer's outstanding Ordinary Shares (represented by American Depositary Shares) will be converted into the right to receive 0.111 shares of Beacon Topco, Inc.'s common stock, plus cash in lieu of any fractional shares resulting from the exchange, in accordance with the scheme of arrangement.

PepGen Inc.

Report date September 30, 2025 · Filed October 01, 2025

Section 16 reporting ended · disclosed 2025-10-01. Current position is not established by this disclosure.

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Common StockSEC Table I · non-derivativeDirect4,955,388 Reported balance After 2025-09-30 transaction · row 1
1 source row

Row 1 · 2025-09-30 · Purchase · Acquired 200,000 · Balance 4,955,388

Transaction history

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Purchases/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 dateCompanyActivity / securityShares / unitsReported priceReported valueDetails
September 09, 2026 Filed Sep 11, 2026 15:00 UTC Amendment Barinthus Biotherapeutics plc. BRNS · Entity 9597 OtherOrdinary Shares 8,797,770 $0.11 $976,552.47
Disclosure

SEC source: 0001856079-26-000002 · primary_doc.xml · nonDerivative · entry 1

Oxford Science Enterprises plc · CIK 0001856079 · former 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

F1 · security: Ordinary Shares may be represented by American Depositary Shares, each of which represents one Ordinary Share.

F2 · price: Pursuant to the terms of the Merger Agreement between Barinthus Biotherapeutics plc (the "Issuer") and Clywedog Therapeutics, Inc., the Issuer's board of directors has determined that each of the Issuer's outstanding Ordinary Shares (represented by American Depositary Shares) will be converted into the right to receive 0.111 shares of Beacon Topco, Inc.'s common stock, plus cash in lieu of any fractional shares resulting from the exchange, in accordance with the scheme of arrangement.

Read SEC document
September 30, 2025 Filed Oct 1, 2025 17:07 UTC PepGen Inc. PEPG · Entity 6253 PurchaseCommon Stock 200,000 $3.20 $640,000.00
Disclosure

SEC source: 0001856079-25-000003 · primary_doc.xml · nonDerivative · entry 1

Oxford Science Enterprises plc · CIK 0001856079 · Former 10% Owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 4,955,388

Read SEC document
May 10, 2022 Filed May 10, 2022 22:42 UTC PepGen Inc. PEPG · Entity 6253 ConversionSeries B Preferred stock · Derivative 1,575,572 $0.00 $0.00
Disclosure

SEC source: 0000899243-22-017488 · doc4.xml · derivative · entry 6

Oxford Science Enterprises plc · CIK 0001856079 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 1,547,713 shares

Expires not disclosed

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 · derivative.exercise_price: On May 10, 2022, each share of Series A-1 Preferred Stock, Series A-2 Preferred Stock and Series B Preferred Stock (collectively, the "Preferred Stock") converted into shares of Common Stock of the Issuer on a 1.018-for-1 basis without payment of further consideration upon closing of the initial public offering of the Issuer's Common Stock. The shares of Preferred Stock had no expiration date.

F1 · derivative.exercise_date: On May 10, 2022, each share of Series A-1 Preferred Stock, Series A-2 Preferred Stock and Series B Preferred Stock (collectively, the "Preferred Stock") converted into shares of Common Stock of the Issuer on a 1.018-for-1 basis without payment of further consideration upon closing of the initial public offering of the Issuer's Common Stock. The shares of Preferred Stock had no expiration date.

F1 · derivative.expiration_date: On May 10, 2022, each share of Series A-1 Preferred Stock, Series A-2 Preferred Stock and Series B Preferred Stock (collectively, the "Preferred Stock") converted into shares of Common Stock of the Issuer on a 1.018-for-1 basis without payment of further consideration upon closing of the initial public offering of the Issuer's Common Stock. The shares of Preferred Stock had no expiration date.

Read SEC document
May 10, 2022 Filed May 10, 2022 22:42 UTC PepGen Inc. PEPG · Entity 6253 ConversionSeries A-2 Preferred stock · Derivative 962,884 $0.00 $0.00
Disclosure

SEC source: 0000899243-22-017488 · doc4.xml · derivative · entry 5

Oxford Science Enterprises plc · CIK 0001856079 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 945,859 shares

Expires not disclosed

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 · derivative.exercise_price: On May 10, 2022, each share of Series A-1 Preferred Stock, Series A-2 Preferred Stock and Series B Preferred Stock (collectively, the "Preferred Stock") converted into shares of Common Stock of the Issuer on a 1.018-for-1 basis without payment of further consideration upon closing of the initial public offering of the Issuer's Common Stock. The shares of Preferred Stock had no expiration date.

F1 · derivative.exercise_date: On May 10, 2022, each share of Series A-1 Preferred Stock, Series A-2 Preferred Stock and Series B Preferred Stock (collectively, the "Preferred Stock") converted into shares of Common Stock of the Issuer on a 1.018-for-1 basis without payment of further consideration upon closing of the initial public offering of the Issuer's Common Stock. The shares of Preferred Stock had no expiration date.

F1 · derivative.expiration_date: On May 10, 2022, each share of Series A-1 Preferred Stock, Series A-2 Preferred Stock and Series B Preferred Stock (collectively, the "Preferred Stock") converted into shares of Common Stock of the Issuer on a 1.018-for-1 basis without payment of further consideration upon closing of the initial public offering of the Issuer's Common Stock. The shares of Preferred Stock had no expiration date.

Read SEC document
May 10, 2022 Filed May 10, 2022 22:42 UTC PepGen Inc. PEPG · Entity 6253 ConversionSeries A-1 Preferred stock · Derivative 1,285,720 $0.00 $0.00
Disclosure

SEC source: 0000899243-22-017488 · doc4.xml · derivative · entry 4

Oxford Science Enterprises plc · CIK 0001856079 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 1,262,986 shares

Expires not disclosed

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 · derivative.exercise_price: On May 10, 2022, each share of Series A-1 Preferred Stock, Series A-2 Preferred Stock and Series B Preferred Stock (collectively, the "Preferred Stock") converted into shares of Common Stock of the Issuer on a 1.018-for-1 basis without payment of further consideration upon closing of the initial public offering of the Issuer's Common Stock. The shares of Preferred Stock had no expiration date.

F1 · derivative.exercise_date: On May 10, 2022, each share of Series A-1 Preferred Stock, Series A-2 Preferred Stock and Series B Preferred Stock (collectively, the "Preferred Stock") converted into shares of Common Stock of the Issuer on a 1.018-for-1 basis without payment of further consideration upon closing of the initial public offering of the Issuer's Common Stock. The shares of Preferred Stock had no expiration date.

F1 · derivative.expiration_date: On May 10, 2022, each share of Series A-1 Preferred Stock, Series A-2 Preferred Stock and Series B Preferred Stock (collectively, the "Preferred Stock") converted into shares of Common Stock of the Issuer on a 1.018-for-1 basis without payment of further consideration upon closing of the initial public offering of the Issuer's Common Stock. The shares of Preferred Stock had no expiration date.

Read SEC document
May 10, 2022 Filed May 10, 2022 22:42 UTC PepGen Inc. PEPG · Entity 6253 ConversionCommon Stock 1,547,713 $0.00 $0.00
Disclosure

SEC source: 0000899243-22-017488 · doc4.xml · nonDerivative · entry 3

Oxford Science Enterprises plc · CIK 0001856079 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,875,418

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 · shares: On May 10, 2022, each share of Series A-1 Preferred Stock, Series A-2 Preferred Stock and Series B Preferred Stock (collectively, the "Preferred Stock") converted into shares of Common Stock of the Issuer on a 1.018-for-1 basis without payment of further consideration upon closing of the initial public offering of the Issuer's Common Stock. The shares of Preferred Stock had no expiration date.

Read SEC document
May 10, 2022 Filed May 10, 2022 22:42 UTC PepGen Inc. PEPG · Entity 6253 ConversionCommon Stock 945,859 $0.00 $0.00
Disclosure

SEC source: 0000899243-22-017488 · doc4.xml · nonDerivative · entry 2

Oxford Science Enterprises plc · CIK 0001856079 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,327,705

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 · shares: On May 10, 2022, each share of Series A-1 Preferred Stock, Series A-2 Preferred Stock and Series B Preferred Stock (collectively, the "Preferred Stock") converted into shares of Common Stock of the Issuer on a 1.018-for-1 basis without payment of further consideration upon closing of the initial public offering of the Issuer's Common Stock. The shares of Preferred Stock had no expiration date.

Read SEC document
May 10, 2022 Filed May 10, 2022 22:42 UTC PepGen Inc. PEPG · Entity 6253 ConversionCommon Stock 1,262,986 $0.00 $0.00
Disclosure

SEC source: 0000899243-22-017488 · doc4.xml · nonDerivative · entry 1

Oxford Science Enterprises plc · CIK 0001856079 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,381,846

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 · shares: On May 10, 2022, each share of Series A-1 Preferred Stock, Series A-2 Preferred Stock and Series B Preferred Stock (collectively, the "Preferred Stock") converted into shares of Common Stock of the Issuer on a 1.018-for-1 basis without payment of further consideration upon closing of the initial public offering of the Issuer's Common Stock. The shares of Preferred Stock had no expiration date.

Read SEC document
May 10, 2022 Filed Apr 9, 2024 21:24 UTC Amendment PepGen Inc. PEPG · Entity 6253 PurchaseCommon Stock 879,970 $12.00 $10,559,640.00
Disclosure

SEC source: 0000950170-24-043058 · ownership.xml · nonDerivative · entry 1

Oxford Science Enterprises plc · CIK 0001856079 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 4,755,388

Read SEC document
May 04, 2021 Filed May 6, 2021 20:25 UTC Barinthus Biotherapeutics plc. VACC · Entity 9597 ConversionSeries B preferred shares · Derivative 1,661,184 Not disclosed Not disclosed
Disclosure

SEC source: 0001104659-21-062421 · tm2115262-1_4seq1.xml · derivative · entry 7

Oxford Sciences Innovation plc · CIK 0001856079 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Ordinary Shares · 1,661,184 shares

Expires not disclosed

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.

F3 · derivative.exercise_price: Each ordinary share, Series A redeemable convertible preferred share and Series B preferred share were converted into Ordinary Shares on a one-for-309 basis immediately prior to the closing ofVaccilech plc's (the "Issuer") initial public offering without payment of consideration. None of the ordinary shares, Series A redeemable convertible preferred share and Series B preferred shares had an expiration date.

F4 · shares: The number of shares reported reflects the conversion set out in Footnote (3).

F3 · price: Each ordinary share, Series A redeemable convertible preferred share and Series B preferred share were converted into Ordinary Shares on a one-for-309 basis immediately prior to the closing ofVaccilech plc's (the "Issuer") initial public offering without payment of consideration. None of the ordinary shares, Series A redeemable convertible preferred share and Series B preferred shares had an expiration date.

F3 · derivative.exercise_date: Each ordinary share, Series A redeemable convertible preferred share and Series B preferred share were converted into Ordinary Shares on a one-for-309 basis immediately prior to the closing ofVaccilech plc's (the "Issuer") initial public offering without payment of consideration. None of the ordinary shares, Series A redeemable convertible preferred share and Series B preferred shares had an expiration date.

F3 · derivative.expiration_date: Each ordinary share, Series A redeemable convertible preferred share and Series B preferred share were converted into Ordinary Shares on a one-for-309 basis immediately prior to the closing ofVaccilech plc's (the "Issuer") initial public offering without payment of consideration. None of the ordinary shares, Series A redeemable convertible preferred share and Series B preferred shares had an expiration date.

F4 · derivative.underlying_shares: The number of shares reported reflects the conversion set out in Footnote (3).

Read SEC document
May 04, 2021 Filed May 6, 2021 20:25 UTC Barinthus Biotherapeutics plc. VACC · Entity 9597 ConversionSeries A redeemable convertible preferred shares · Derivative 1,704,444 Not disclosed Not disclosed
Disclosure

SEC source: 0001104659-21-062421 · tm2115262-1_4seq1.xml · derivative · entry 6

Oxford Sciences Innovation plc · CIK 0001856079 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Ordinary Shares · 1,704,444 shares

Expires not disclosed

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.

F3 · derivative.exercise_price: Each ordinary share, Series A redeemable convertible preferred share and Series B preferred share were converted into Ordinary Shares on a one-for-309 basis immediately prior to the closing ofVaccilech plc's (the "Issuer") initial public offering without payment of consideration. None of the ordinary shares, Series A redeemable convertible preferred share and Series B preferred shares had an expiration date.

F4 · shares: The number of shares reported reflects the conversion set out in Footnote (3).

F3 · price: Each ordinary share, Series A redeemable convertible preferred share and Series B preferred share were converted into Ordinary Shares on a one-for-309 basis immediately prior to the closing ofVaccilech plc's (the "Issuer") initial public offering without payment of consideration. None of the ordinary shares, Series A redeemable convertible preferred share and Series B preferred shares had an expiration date.

F3 · derivative.exercise_date: Each ordinary share, Series A redeemable convertible preferred share and Series B preferred share were converted into Ordinary Shares on a one-for-309 basis immediately prior to the closing ofVaccilech plc's (the "Issuer") initial public offering without payment of consideration. None of the ordinary shares, Series A redeemable convertible preferred share and Series B preferred shares had an expiration date.

F3 · derivative.expiration_date: Each ordinary share, Series A redeemable convertible preferred share and Series B preferred share were converted into Ordinary Shares on a one-for-309 basis immediately prior to the closing ofVaccilech plc's (the "Issuer") initial public offering without payment of consideration. None of the ordinary shares, Series A redeemable convertible preferred share and Series B preferred shares had an expiration date.

F4 · derivative.underlying_shares: The number of shares reported reflects the conversion set out in Footnote (3).

Read SEC document
May 04, 2021 Filed May 6, 2021 20:25 UTC Barinthus Biotherapeutics plc. VACC · Entity 9597 ConversionOrdinary Shares · Derivative 4,832,142 Not disclosed Not disclosed
Disclosure

SEC source: 0001104659-21-062421 · tm2115262-1_4seq1.xml · derivative · entry 5

Oxford Sciences Innovation plc · CIK 0001856079 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Ordinary Shares · 4,832,142 shares

Expires not disclosed

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.

F3 · derivative.exercise_price: Each ordinary share, Series A redeemable convertible preferred share and Series B preferred share were converted into Ordinary Shares on a one-for-309 basis immediately prior to the closing ofVaccilech plc's (the "Issuer") initial public offering without payment of consideration. None of the ordinary shares, Series A redeemable convertible preferred share and Series B preferred shares had an expiration date.

F4 · shares: The number of shares reported reflects the conversion set out in Footnote (3).

F3 · price: Each ordinary share, Series A redeemable convertible preferred share and Series B preferred share were converted into Ordinary Shares on a one-for-309 basis immediately prior to the closing ofVaccilech plc's (the "Issuer") initial public offering without payment of consideration. None of the ordinary shares, Series A redeemable convertible preferred share and Series B preferred shares had an expiration date.

F3 · derivative.exercise_date: Each ordinary share, Series A redeemable convertible preferred share and Series B preferred share were converted into Ordinary Shares on a one-for-309 basis immediately prior to the closing ofVaccilech plc's (the "Issuer") initial public offering without payment of consideration. None of the ordinary shares, Series A redeemable convertible preferred share and Series B preferred shares had an expiration date.

F3 · derivative.expiration_date: Each ordinary share, Series A redeemable convertible preferred share and Series B preferred share were converted into Ordinary Shares on a one-for-309 basis immediately prior to the closing ofVaccilech plc's (the "Issuer") initial public offering without payment of consideration. None of the ordinary shares, Series A redeemable convertible preferred share and Series B preferred shares had an expiration date.

F4 · derivative.underlying_shares: The number of shares reported reflects the conversion set out in Footnote (3).

Read SEC document
May 04, 2021 Filed May 6, 2021 20:25 UTC Barinthus Biotherapeutics plc. VACC · Entity 9597 PurchaseAmerican Depositary Shares 600,000 $17.00 $10,200,000.00
Disclosure

SEC source: 0001104659-21-062421 · tm2115262-1_4seq1.xml · nonDerivative · entry 4

Oxford Sciences Innovation plc · CIK 0001856079 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,797,770

F2 · security: Each American Depositary Share represents one ordinary share.

Read SEC document
May 04, 2021 Filed May 6, 2021 20:25 UTC Barinthus Biotherapeutics plc. VACC · Entity 9597 ConversionOrdinary Shares 1,661,184 Not disclosed Not disclosed
Disclosure

SEC source: 0001104659-21-062421 · tm2115262-1_4seq1.xml · nonDerivative · entry 3

Oxford Sciences Innovation plc · CIK 0001856079 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,197,770

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 · security: The Ordinary Shares may be represented by American Depositary Shares, each of whicb currently represents one Ordinary Share.

F3 · price: Each ordinary share, Series A redeemable convertible preferred share and Series B preferred share were converted into Ordinary Shares on a one-for-309 basis immediately prior to the closing ofVaccilech plc's (the "Issuer") initial public offering without payment of consideration. None of the ordinary shares, Series A redeemable convertible preferred share and Series B preferred shares had an expiration date.

Read SEC document
May 04, 2021 Filed May 6, 2021 20:25 UTC Barinthus Biotherapeutics plc. VACC · Entity 9597 ConversionOrdinary Shares 1,704,444 Not disclosed Not disclosed
Disclosure

SEC source: 0001104659-21-062421 · tm2115262-1_4seq1.xml · nonDerivative · entry 2

Oxford Sciences Innovation plc · CIK 0001856079 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,536,586

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 · security: The Ordinary Shares may be represented by American Depositary Shares, each of whicb currently represents one Ordinary Share.

F3 · price: Each ordinary share, Series A redeemable convertible preferred share and Series B preferred share were converted into Ordinary Shares on a one-for-309 basis immediately prior to the closing ofVaccilech plc's (the "Issuer") initial public offering without payment of consideration. None of the ordinary shares, Series A redeemable convertible preferred share and Series B preferred shares had an expiration date.

Read SEC document
May 04, 2021 Filed May 6, 2021 20:25 UTC Barinthus Biotherapeutics plc. VACC · Entity 9597 ConversionOrdinary Shares 4,832,142 Not disclosed Not disclosed
Disclosure

SEC source: 0001104659-21-062421 · tm2115262-1_4seq1.xml · nonDerivative · entry 1

Oxford Sciences Innovation plc · CIK 0001856079 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,832,142

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 · security: The Ordinary Shares may be represented by American Depositary Shares, each of whicb currently represents one Ordinary Share.

F3 · price: Each ordinary share, Series A redeemable convertible preferred share and Series B preferred share were converted into Ordinary Shares on a one-for-309 basis immediately prior to the closing ofVaccilech plc's (the "Issuer") initial public offering without payment of consideration. None of the ordinary shares, Series A redeemable convertible preferred share and Series B preferred shares had an expiration date.

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.