Institutional Ownership is one very important way to analyze how a stock will perform in the future. Here's a good article weighing the pros and cons of institutional ownership.
The table below is a summary of the mean, median and true PPS (Price Per Share) the institutions have paid in the current and last quarter. Most institutes hedge their bets both ways to protect the investment. The do so by buying puts and calls for a stock as well, apart from stock ownership.
| Quarter | Institute Count | Mean PPS | Median PPS | True Value PPS |
|---|---|---|---|---|
| Current Quarter | 485 | 9.00 | 8.67 | 8.65 |
| Previous Quarter | 535 | 58.00 | 9.59 | 9.36 |
The table below is summary data with links to individual listing tables below to indicate if new institutes bought in, sold out, averaged down, averaged up etc. This is a critical piece of data to analyze what the money flow is in quarter and past week.
| Time | New Institutions | Out | Averaged Down | Averaged Up | Added Shares | Reduced Shares |
|---|---|---|---|---|---|---|
| Current Quarter | 31 | 136 | 266 | 85 | 168 | 103 |
| Time | New Puts | New Calls | New Short | Deleted Puts | Deleted Calls | Deleted Short |
| Current Quarter | 0 | 0 | 0 | 1 | 0 | 0 |
| Time | Increased Puts | Increased Calls | Increased Short | Reduced Puts | Reduced Calls | Reduced Short |
| Current Quarter | 0 | 4 | 5 | 1 | 4 | 1 |
| Time | New Institutions | Out | Averaged Down | Averaged Up | Added Shares | Reduced Shares |
| Past Week | 2 | 2 | 14 | 0 | 8 | 1 |
| Time | New Puts | New Calls | New Short | Deleted Puts | Deleted Calls | Deleted Short |
| Past Week | 0 | 0 | 0 | 0 | 0 | 0 |
| Time | Increased Puts | Increased Calls | Increased Short | Reduced Puts | Reduced Calls | Reduced Short |
| Past Week | 0 | 0 | 0 | 0 | 0 | 0 |
BlackRock and Vanguard are the two largest institutional investors in the world. The table below is an indicator of how much of the company stock they own.
| BlackRock | Vanguard | |||||
|---|---|---|---|---|---|---|
| Quarter | Shares | % Ownership | PPS | Shares | % Ownership | PPS |
| Current Quarter | 27,897,344 | 13.15 | 4.38 | 34,948,689 | 16.47 | 8.69 |
| Previous Quarter | 13,823,960 | 6.52 | 9.59 | 34,992,513 | 16.49 | 9.53 |
This is a snapshot of the top 20 institutes by share count holding stock in the company for the current quarter
| Name | Shares | PPS |
|---|---|---|
| Fmr Llc | 31,877,892 | 8.67 |
| FMR LLC | 31,618,128 | |
| Oaktree Capital Management Lp | 25,175,384 | 8.67 |
| VANGUARD GROUP INC | 17,763,351 | |
| Vanguard Group Inc | 17,763,286 | 8.67 |
| BlackRock Inc. | 14,074,514 | 8.67 |
| BlackRock Inc. | 13,801,595 | |
| Shapiro Capital Management Llc | 12,598,788 | 8.67 |
| FDGRX - Fidelity Growth Company Fund | 11,443,192 | 9.23 |
| Brown Advisory Inc | 8,898,115 | 8.68 |
| Greenhouse Funds LLLP | 6,802,083 | 8.67 |
| Barrow Hanley Mewhinney & Strauss Llc | 6,615,697 | 8.67 |
| GILDER GAGNON HOWE & CO LLC | 6,559,821 | |
| Gilder Gagnon Howe & Co Llc | 6,086,766 | 8.67 |
| VTSMX - Vanguard Total Stock Market Index Fund Investor Shares | 5,354,358 | 8.67 |
| NAESX - Vanguard Small-Cap Index Fund Investor Shares | 4,542,729 | 8.67 |
| IWM - iShares Russell 2000 ETF | 4,192,133 | 8.67 |
| State Street Corp | 4,008,942 | 8.67 |
| Dimensional Fund Advisors Lp | 3,836,540 | 8.67 |
| Bank Of America Corp /de/ | 3,684,707 | 8.67 |
The table below is top 20 listing of institutes holding stock of the company in the previous quarter.
| Name | Shares | PPS |
|---|---|---|
| Fmr Llc | 31,618,128 | 9.59 |
| Oaktree Capital Management Lp | 25,175,384 | 9.59 |
| Vanguard Group Inc | 17,763,351 | 9.59 |
| BlackRock Inc. | 13,801,595 | 9.59 |
| FDGRX - Fidelity Growth Company Fund | 11,660,341 | 8.13 |
| Shapiro Capital Management Llc | 9,959,815 | 9.59 |
| Brown Advisory Inc | 8,847,645 | 9.59 |
| Barrow Hanley Mewhinney & Strauss Llc | 6,723,140 | 9.59 |
| Gilder Gagnon Howe & Co Llc | 6,559,821 | 9.59 |
| Greenhouse Funds LLLP | 6,515,398 | 9.59 |
| VTSMX - Vanguard Total Stock Market Index Fund Investor Shares | 5,118,142 | 9.59 |
| NAESX - Vanguard Small-Cap Index Fund Investor Shares | 4,564,880 | 9.59 |
| IWM - iShares Russell 2000 ETF | 4,233,967 | 9.59 |
| State Street Corp | 3,916,331 | 9.59 |
| Goldman Sachs Group Inc | 3,804,654 | 9.59 |
| Dimensional Fund Advisors Lp | 3,627,761 | 9.59 |
| Geode Capital Management, Llc | 3,401,332 | 9.59 |
| Bank Of America Corp /de/ | 3,264,594 | 9.59 |
| AVFIX - American Beacon Small Cap Value Fund Institutional Class | 3,137,149 | 7.59 |
| FGKFX - Fidelity Growth Company K6 Fund | 3,132,419 | 8.13 |
| Name | Shares | PPS |
|---|---|---|
| FMR LLC | 31,618,128 | |
| VANGUARD GROUP INC | 17,763,351 | |
| GILDER GAGNON HOWE & CO LLC | 6,559,821 | |
| Tabor Asset Management, LP | 642,760 | 8.67 |
| SHXIX - American Beacon Shapiro Equity Opportunities Fund Institutional Class | 310,934 | 8.67 |
| Manatuck Hill Partners, LLC | 250,000 | 8.67 |
| Duality Advisers, Lp | 174,236 | 8.67 |
| Keeley-Teton Advisors, LLC | 100,000 | 8.67 |
| IPSIX - Voya Index Plus SmallCap Portfolio Class I | 62,685 | 8.66 |
| Clear Sky Advisers, LLC | 53,000 | 8.68 |
| RYLD - Global X Russell 2000 Covered Call ETF | 51,847 | 7.70 |
| J.w. Cole Advisors, Inc. | 48,119 | 0.12 |
| Amalgamated Financial Corp. | 29,835 | 8.68 |
| Atria Wealth Solutions, Inc. | 28,600 | 8.67 |
| Bayesian Capital Management, LP | 23,800 | 8.66 |
| Asset Management One Co., Ltd. | 23,322 | 8.66 |
| ISCV - iShares Morningstar Small-Cap Value ETF | 22,297 | 7.67 |
| Graham Capital Management, L.P. | 19,993 | 8.65 |
| Aigen Investment Management, Lp | 15,706 | 8.66 |
| CenterBook Partners LP | 14,564 | 8.65 |
| Name | Shares | PPS |
|---|---|---|
| Point72 Asset Management, L.P. | 1,642,000 | 9.59 |
| Healthcare Of Ontario Pension Plan Trust Fund | 920,300 | 9.59 |
| Woodline Partners LP | 910,665 | 9.59 |
| Cooper Creek Partners Management Llc | 812,749 | 9.59 |
| LMR Partners LLP | 500,000 | 9.59 |
| XITK - SPDR FactSet Innovative Technology ETF | 353,010 | 8.32 |
| Cinctive Capital Management LP | 299,203 | 9.59 |
| Assenagon Asset Management S.A. | 275,479 | 9.59 |
| Holocene Advisors, LP | 211,771 | 9.59 |
| Alyeska Investment Group, L.P. | 199,960 | 9.59 |
| Adirondack Research & Management Inc. | 163,860 | 8.32 |
| Truist Financial Corp | 139,827 | 9.58 |
| Luminus Management Llc | 110,000 | 9.59 |
| Teton Advisors, Inc. | 100,000 | 9.59 |
| VSTCX - Vanguard Strategic Small-Cap Equity Fund Investor Shares | 91,561 | 8.32 |
| Summit Global Investments | 78,868 | 9.59 |
| King Luther Capital Management Corp | 68,418 | 9.59 |
| Man Group plc | 64,200 | 9.60 |
| First Midwest Bank Trust Division | 50,461 | 9.59 |
| Hrt Financial Lp | 46,445 | 9.58 |
| Great Lakes Advisors, Llc | 46,128 | 9.58 |
| Wolverine Trading, Llc | 33,500 | 9.61 |
| Wolverine Trading, Llc | 33,500 | 9.61 |
| HSGFX - Hussman Strategic Growth Fund | 30,000 | 10.20 |
| Quantbot Technologies LP | 27,565 | 9.58 |
| Balyasny Asset Management Llc | 25,933 | 9.60 |
| Dynamic Technology Lab Private Ltd | 22,244 | 9.58 |
| Y-Intercept (Hong Kong) Ltd | 20,295 | 9.61 |
| Jefferies Group LLC | 19,817 | 5.00 |
| Cambridge Investment Research Advisors, Inc. | 16,138 | 9.60 |
| Bbva Usa | 12,426 | 8.29 |
| Private Trust Co Na | 11,121 | 9.62 |
| Autumn Glory Partners, LLC | 10,000 | 9.60 |
| Cutler Group LP | 8,700 | 0.34 |
| Banque Cantonale Vaudoise | 5,000 | 9.60 |
| RYDEX VARIABLE TRUST - Telecommunications Fund Variable Annuity | 2,541 | 8.26 |
| State of Wyoming | 2,232 | 9.41 |
| RYMIX - Telecommunications Fund Investor Class | 1,918 | 8.34 |
| Baldwin Brothers Inc/ma | 1,500 | 9.33 |
| WSCIX - Westwood SmallCap Growth Fund Institutional Shares | 1,420 | 7.75 |
| Koshinski Asset Management, Inc. | 1,400 | 9.29 |
| Forethought Variable Insurance Trust - Global Atlantic BlackRock Disciplined Small Cap Portfolio Class I Shares | 1,123 | 9.80 |
| HSAFX - Hussman Strategic Allocation Fund | 1,000 | 10.00 |
| Berman Capital Advisors, LLC | 859 | 8.15 |
| C M Bidwell & Associates Ltd | 537 | 9.31 |
| Spire Wealth Management | 491 | 10.18 |
| TCI Wealth Advisors, Inc. | 481 | 10.40 |
| West Oak Capital, LLC | 480 | 10.42 |
| Toth Financial Advisory Corp | 300 | 10.00 |
| TD Capital Management LLC | 266 | 11.28 |
| Trustcore Financial Services, Llc | 215 | 9.30 |
| IFP Advisors, Inc | 140 | 7.14 |
| Absolute Capital Management, LLC | 25 | 9600.00 |
| Mcdonald Partners Llc | 25 | 9600.00 |
| PNC Managed Account Solutions, Inc. | 16 | |
| Virtu Financial LLC | ||
| Pacitti Group Inc. | ||
| Cordant, Inc. | ||
| California Public Employees Retirement System | ||
| Creative Planning | ||
| Griffin Asset Management, Inc. | ||
| Twinbeech Capital Lp | ||
| Parallax Volatility Advisers, L.P. | ||
| Ameritas Investment Corp | ||
| Mackay Shields Llc | ||
| Polar Asset Management Partners Inc. | ||
| Regal Wealth Group, Inc. | ||
| State of Tennessee, Treasury Department | ||
| RBCGX - Reynolds Blue Chip Growth Fund | ||
| Advanced Series Trust - Ast Academic Strategies Asset Allocation Portfolio | ||
| Empyrean Capital Partners, LP | ||
| PEAK6 Investments LLC | ||
| Seven Eight Capital, Lp | ||
| Asset Management Corp /il/ /adv | ||
| DiMeo Schneider & Associates, L.L.C. | ||
| Sowell Financial Services LLC | ||
| Grandview Asset Management LLC | ||
| Old Mission Capital Llc | ||
| Premier Asset Management Llc | ||
| Northwestern Mutual Wealth Management Co | ||
| O'shaughnessy Asset Management, Llc | ||
| Quadrature Capital Ltd | ||
| Advisory Services Network, LLC | ||
| Public Employees Retirement System Of Ohio | ||
| Neo Ivy Capital Management | ||
| Geneos Wealth Management Inc. | ||
| Cipher Capital LP | ||
| Bronson Point Management LLC | ||
| Valeo Financial Advisors, LLC | ||
| Two Sigma Advisers, Lp | ||
| Marshall Wace North America L.P. | ||
| SIFAX - SIMT MULTI-ASSET INFLATION MANAGED FUND Class F | ||
| Beck Bode, LLC | ||
| Perigon Wealth Management, LLC | ||
| Jacobi Capital Management LLC | ||
| Robertson Stephens Wealth Management, LLC | ||
| Sciencast Management LP | ||
| Parametrica Management Ltd | ||
| Moors & Cabot, Inc. | ||
| Atom Investors LP | ||
| Parisi Gray Wealth Management | ||
| Gyon Technologies Capital Management, LP | ||
| Steward Partners Investment Advisory, Llc | ||
| Pinz Capital Management, LP | ||
| State of New Jersey Common Pension Fund D | ||
| Voloridge Investment Management, Llc | ||
| Qube Research & Technologies Ltd | ||
| International Assets Investment Management, Llc | ||
| Quantitative Investment Management, LLC | ||
| Summit Partners Public Asset Management, Llc | ||
| SG Americas Securities, LLC | ||
| Hussman Strategic Advisors, Inc. | ||
| Two Sigma Investments, Lp | ||
| Schroder Investment Management Group | ||
| Boardman Bay Capital Management Llc | ||
| Fortis Advisors, LLC | ||
| Cahill Financial Advisors Inc | ||
| AMP Capital Investors Ltd | ||
| Blueshift Asset Management, LLC | ||
| Pictet Asset Management Ltd | ||
| VANGUARD VARIABLE INSURANCE FUNDS - Small Company Growth Portfolio | ||
| Baird Financial Group, Inc. | ||
| Natixis | ||
| Atika Capital Management LLC | ||
| Verition Fund Management LLC | ||
| Walleye Capital LLC | ||
| GMSMX - GuideMark(R) Small/Mid Cap Core Fund Service Shares | ||
| Tradewinds Capital Management, LLC | ||
| Hm Payson & Co | ||
| Trellus Management Company, LLC | ||
| Harbour Investments, Inc. | ||
| Opti Capital Management, Lp | ||
| Blackstone Alternative Investment Funds - Blackstone Alternative Multi-Strategy Fund Class I | 10.00 | |
| PQMAX - PGIM QMA Large-Cap Core Equity Plus Fund Class A | 10.17 | |
| PLHAX - PGIM QMA Long-Short Equity Fund Class A | 8.31 | |
| Advanced Series Trust - Ast Qma U.s. Equity Alpha Portfolio | 8.32 |
| Name | Current Shares | Current PPS | Previous Shares | Previous PPS |
|---|---|---|---|---|
| Fmr Llc | 31,877,892 | 8.67 | 31,618,128 | 9.59 |
| Oaktree Capital Management Lp | 25,175,384 | 8.67 | 25,175,384 | 9.59 |
| Vanguard Group Inc | 17,763,286 | 8.67 | 17,763,351 | 9.59 |
| BlackRock Inc. | 14,074,514 | 8.67 | 13,801,595 | 9.59 |
| Shapiro Capital Management Llc | 12,598,788 | 8.67 | 9,959,815 | 9.59 |
| Brown Advisory Inc | 8,898,115 | 8.68 | 8,847,645 | 9.59 |
| Greenhouse Funds LLLP | 6,802,083 | 8.67 | 6,515,398 | 9.59 |
| Barrow Hanley Mewhinney & Strauss Llc | 6,615,697 | 8.67 | 6,723,140 | 9.59 |
| Gilder Gagnon Howe & Co Llc | 6,086,766 | 8.67 | 6,559,821 | 9.59 |
| VTSMX - Vanguard Total Stock Market Index Fund Investor Shares | 5,354,358 | 8.67 | 5,118,142 | 9.59 |
| NAESX - Vanguard Small-Cap Index Fund Investor Shares | 4,542,729 | 8.67 | 4,564,880 | 9.59 |
| IWM - iShares Russell 2000 ETF | 4,192,133 | 8.67 | 4,233,967 | 9.59 |
| State Street Corp | 4,008,942 | 8.67 | 3,916,331 | 9.59 |
| Dimensional Fund Advisors Lp | 3,836,540 | 8.67 | 3,627,761 | 9.59 |
| Bank Of America Corp /de/ | 3,684,707 | 8.67 | 3,264,594 | 9.59 |
| Geode Capital Management, Llc | 3,604,175 | 8.67 | 3,401,332 | 9.59 |
| Millennium Management Llc | 3,600,716 | 8.67 | 556,133 | 9.59 |
| Victory Capital Management Inc | 3,220,736 | 8.66 | 2,959,397 | 9.59 |
| Goldman Sachs Group Inc | 3,086,691 | 8.67 | 3,804,654 | 9.59 |
| BIASX - Brown Advisory Small-Cap Growth Fund Investor Shares | 2,814,192 | 8.67 | 2,814,192 | 9.59 |
| Name | Current Shares | Current PPS | Previous Shares | Previous PPS |
|---|---|---|---|---|
| FDGRX - Fidelity Growth Company Fund | 11,443,192 | 9.23 | 11,660,341 | 8.13 |
| FGKFX - Fidelity Growth Company K6 Fund | 3,330,741 | 9.23 | 3,132,419 | 8.13 |
| AVFIX - American Beacon Small Cap Value Fund Institutional Class | 3,035,041 | 7.69 | 3,137,149 | 7.59 |
| FCGSX - Fidelity Series Growth Company Fund | 2,753,475 | 9.23 | 2,748,475 | 8.13 |
| FSSNX - Fidelity Small Cap Index Fund | 1,423,775 | 7.69 | 1,325,095 | 7.59 |
| PNASX - SmallCap Growth Fund I R-1 | 1,208,955 | 7.69 | 1,166,429 | 7.59 |
| FSMAX - Fidelity Extended Market Index Fund | 1,137,889 | 9.23 | 1,033,430 | 8.13 |
| DFSCX - U.s. Micro Cap Portfolio - Institutional Class | 961,124 | 7.69 | 800,604 | 7.59 |
| DFSTX - U.s. Small Cap Portfolio - Institutional Class | 923,270 | 7.69 | 906,870 | 7.59 |
| VITAX - Vanguard Information Technology Index Fund Admiral Shares | 824,347 | 9.23 | 821,279 | 8.13 |
| NINAX - Neuberger Berman Intrinsic Value Fund Class A | 813,654 | 9.23 | 737,290 | 8.13 |
| VRTIX - Vanguard Russell 2000 Index Fund Institutional Shares | 493,855 | 9.23 | 461,136 | 8.13 |
| DFQTX - U.s. Core Equity 2 Portfolio - Institutional Class | 414,442 | 7.69 | 415,642 | 7.59 |
| SWSSX - Schwab Small-Cap Index Fund | 412,216 | 7.69 | 389,347 | 7.59 |
| FSKAX - Fidelity Total Market Index Fund | 351,575 | 9.23 | 324,579 | 8.13 |
| MMSMX - Multi-Manager U.S. Small Cap Equity Fund Class P Shares | 318,157 | 7.69 | 237,052 | 7.59 |
| ExodusPoint Capital Management, LP | 268,718 | 8.67 | 0 | |
| TISBX - TIAA-CREF Small-Cap Blend Index Fund Institutional Class | 264,557 | 7.69 | 278,606 | 7.59 |
| DFAS - Dimensional U.S. Small Cap ETF | 247,474 | 7.69 | 178,481 | 7.59 |
| DFEOX - U.s. Core Equity 1 Portfolio - Institutional Class | 230,758 | 7.69 | 274,773 | 7.59 |
| Name | Current Puts |
|---|
| Name | Current Calls |
|---|
| Name |
|---|
| Name | Previous Puts |
|---|---|
| Proequities, Inc. | 0 |
| Name | Previous Calls |
|---|
| Name |
|---|
| Name | Increased Puts | Current Puts | Previous Puts | Percentage Increase |
|---|
| Name | Increased Calls | Current Calls | Previous Calls | Percentage Increase |
|---|---|---|---|---|
| HAP Trading, LLC | 4,100 | 16,700 | 12,600 | 32.54 |
| Walleye Trading LLC | 12,500 | 49,500 | 37,000 | 33.78 |
| Caption Management, LLC | 45,400 | 45,400 | 0 | 0.00 |
| Simplex Trading, Llc | 53,600 | 93,700 | 40,100 | 133.67 |
| Name |
|---|
| SSIJX - American Beacon SSI Alternative Income Fund Institutional Class |
| Morningstar Funds Trust - Morningstar Alternatives Fund |
| CVSIX - Calamos Market Neutral Income Fund Class A |
| GFSYX - Strategic Alternatives Fund Institutional |
| ARBIX - Absolute Convertible Arbitrage Fund Institutional Shares |
| Name | Reduced Puts | Current Puts | Previous Puts | Percent Decrease |
|---|---|---|---|---|
| Wolverine Asset Management Llc | 13,000 | 710,500 | 723,500 | -1.80 |
| Name | Reduced Calls | Current Calls | Previous Calls | Percentage Decrease |
|---|---|---|---|---|
| Group One Trading, L.p. | 66,145 | 50,900 | 117,045 | -56.51 |
| Jane Street Group, Llc | 48,456 | 80,600 | 129,056 | -37.55 |
| Wolverine Trading, Llc | 16,200 | 17,300 | 33,500 | -48.36 |
| Cutler Group LP | 6,600 | 2,100 | 8,700 | -75.86 |
| Name |
|---|
| ADANX - AQR Diversified Arbitrage Fund Class N |
| Name | Shares | PPS |
|---|---|---|
| Merlin Capital LLC | 12,116 | 5.36 |
| HighTower Trust Services, LTA | 3,730 | 138.07 |
| Name | Shares | PPS |
|---|---|---|
| Spire Wealth Management | 491 | 10.18 |
| Toth Financial Advisory Corp | 300 | 10.00 |
| Name | Current Shares | Current PPS | Previous Shares | Previous PPS |
|---|---|---|---|---|
| SCHA - Schwab U.S. Small-Cap ETF | 840,448 | 5.73 | 832,228 | 8.13 |
| SCHB - Schwab U.S. Broad Market ETF | 106,449 | 5.73 | 104,085 | 8.13 |
| Allspring Global Investments Holdings, LLC | 92,207 | 5.36 | 98,792 | 9.59 |
| TRSGX - T. Rowe Price Spectrum Moderate Growth Allocation Fund | 17,176 | 5.71 | 11,300 | 8.14 |
| Hexagon Capital Partners LLC | 11,818 | 5.33 | 11,518 | 9.55 |
| JNBA Financial Advisors | 10,000 | 5.40 | 10,000 | 9.60 |
| TRPBX - T. Rowe Price Spectrum Moderate Allocation Fund | 8,433 | 5.69 | 6,200 | 8.06 |
| PRSIX - T. Rowe Price Spectrum Conservative Allocation Fund | 6,004 | 5.66 | 4,000 | 8.25 |
| WASHINGTON TRUST Co | 2,000 | 5.50 | 2,000 | 9.50 |
| IUSS - Invesco RAFI(TM) Strategic US Small Company ETF | 1,766 | 5.66 | 1,117 | 8.06 |
| PBSM - Invesco PureBeta MSCI USA Small Cap ETF | 1,565 | 5.75 | 1,395 | 7.89 |
| Arrow Financial Corp | 500 | 6.00 | 500 | 10.00 |
| Steward Financial Group LLC | 288 | 3.47 | 288 | 6.94 |
| Annapolis Financial Services, LLC | 85 | 85 | 11.76 |
| Name | Current Shares | Current PPS | Previous Shares | Previous PPS |
|---|
| Name | Current Puts |
|---|
| Name | Current Calls |
|---|
| Name |
|---|
| Name | Previous Puts |
|---|
| Name | Previous Calls |
|---|
| Name |
|---|
| Name | Increased Puts | Current Puts | Previous Puts | Percentage Increase |
|---|
| Name | Increased Calls | Current Calls | Previous Calls | Percentage Increase |
|---|
| Name |
|---|
| Name | Reduced Puts | Current Puts | Previous Puts | Percent Decrease |
|---|
| Name | Reduced Calls | Current Calls | Previous Calls | Percent Decrease |
|---|
| Name |
|---|