PEAK FINANCIAL ADVISORS LLC
CIK 1843309 · View on SEC EDGAR ↗
- Portfolio value
- $241.5M
- Positions
- 78
- As of
- June 30, 2026
#5,839 of 9,443 by 13F value · top 61.8%
Portfolio value QoQ: +6.9% 13F does not disclose cash
- Top 10 holdings weight
- 55.01%
- Top 25 holdings weight
- 77.30%
- Positions above 1%
- 32
- Effective number of positions
- 20.1
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 25.91% Est. buys $75,629,224 · sells $60,537,290
Median holding: 2.0 quarters Tracked Q4 2024–Q2 2026 · 43.1% still held
- New positions
- 20
- Increased
- 34
- Decreased
- 19
- Closed
- 12
On this page
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Sector breakdown
Healthcare
7.9%
Retail
5.1%
Energy
4.5%
Industrials
3.7%
Technology
3.5%
Real Estate
3.3%
Financial Services
3.1%
Communications
2.1%
Communication Services
2.0%
Utilities
1.9%
Materials
1.6%
Logistics & Transportation
1.4%
Financials
1.1%
Consumer Discretionary
1.0%
Consumer Staples
0.3%
Telecommunication
0.2%
Other/Unmapped
57.2%
Full portfolio 78 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| FLXR TCW Flexible Income ETF | $34,888,900 | 14.45% | 889,796 | $9,951,996 | Up ×1 | ||
| FLSP | $21,237,344 | 8.79% | 766,968 | $3,054,634 | Up ×1 | ||
| MBB iShares MBS ETF | $19,740,008 | 8.17% | 208,845 | Up ×1 | |||
| GLDM | $13,814,950 | 5.72% | 173,948 | $-1,518,479 | Up ×1 | ||
| EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | $11,369,433 | 4.71% | 117,891 | $374,785 | Up ×1 | ||
| CTA | $11,091,404 | 4.59% | 427,579 | $-1,914,100 | Down ×2 | ||
| AMZN Amazon.com, Inc. - Common Stock | $6,186,353 | 2.56% | 25,956 | $1,193,080 | Up ×6 | ||
| CIEN Ciena Corporation Common Stock | $5,185,219 | 2.15% | 10,570 | $776,479 | Down ×2 | ||
| SPMO | $4,749,770 | 1.97% | 29,403 | $1,407,171 | Down ×2 | ||
| JNJ Johnson & Johnson Common Stock | $4,581,918 | 1.90% | 18,041 | $1,531,882 | Up ×4 | ||
| CNP CenterPoint Energy, Inc (Holding Co) Common Stock | $4,019,271 | 1.66% | 91,264 | $1,000,666 | Up ×1 | ||
| BRKB | $4,018,132 | 1.66% | 8,030 | $1,087,345 | Up ×1 | ||
| LLY Eli Lilly and Company Common Stock | $3,888,552 | 1.61% | 3,242 | Up ×1 | |||
| ESI Element Solutions Inc. Common Stock | $3,864,404 | 1.60% | 80,930 | $1,137,200 | Up ×3 | ||
| CVS CVS Health Corporation Common Stock | $3,793,077 | 1.57% | 36,666 | $1,609,266 | Up ×1 | ||
| INDA | $3,757,070 | 1.56% | 76,069 | $-257,935 | Down ×5 | ||
| EW Edwards Lifesciences Corporation Common Stock | $3,630,250 | 1.50% | 40,131 | Up ×1 | |||
| CNQ Canadian Natural Resources Limited Common Stock | $3,520,438 | 1.46% | 89,125 | $-1,052,385 | Down ×1 | ||
| BRX Brixmor Property Group Inc. Common Stock | $3,455,677 | 1.43% | 109,600 | $878,941 | Up ×4 | ||
| CW Curtiss-Wright Corporation Common Stock | $3,412,254 | 1.41% | 4,503 | $685,050 | Up ×1 | ||
| ETN Eaton Corporation, PLC Ordinary Shares | $3,395,324 | 1.41% | 7,968 | $947,431 | Up ×1 | ||
| APA APA Corporation - Common Stock | $3,336,553 | 1.38% | 102,443 | $-1,025,185 | Down ×2 | ||
| FDX FedEx Corporation Common Stock | $3,283,905 | 1.36% | 10,487 | $78,641 | Up ×1 | ||
| NVDA NVIDIA Corporation - Common Stock | $3,279,381 | 1.36% | 16,390 | $32,402 | Down ×1 | ||
| COST Costco Wholesale Corporation - Common Stock | $3,177,679 | 1.32% | 3,397 | $-81,306 | Up ×1 | ||
| WMT Walmart Inc. - Common Stock | $2,922,446 | 1.21% | 25,803 | $135,591 | Up ×1 | ||
| LNG Cheniere Energy, Inc. Common Stock | $2,703,442 | 1.12% | 11,311 | Up ×1 | |||
| NFLX Netflix, Inc. - Common Stock | $2,695,421 | 1.12% | 37,751 | $-732,038 | Up ×3 | ||
| V Visa Inc. | $2,694,629 | 1.12% | 7,854 | ||||
| DFTX Definium Therapeutics, Inc. - Common Shares | $2,677,282 | 1.11% | 56,915 | Up ×1 | |||
| BWA BorgWarner Inc. Common Stock | $2,483,692 | 1.03% | 37,405 | Up ×1 | |||
| UNM Unum Group Common Stock | $2,435,882 | 1.01% | 27,247 | Up ×1 | |||
| COWZ | $2,242,497 | 0.93% | 36,053 | $56,150 | Up ×1 | ||
| MS Morgan Stanley Common Stock | $2,156,299 | 0.89% | 10,315 | Up ×1 | |||
| LYV Live Nation Entertainment, Inc. Common Stock | $2,103,018 | 0.87% | 11,485 | Up ×1 | |||
| JHX James Hardie Industries plc. Ordinary Shares | $2,079,582 | 0.86% | 79,434 | Up ×1 | |||
| DNTH Dianthus Therapeutics, Inc. - Common Stock | $1,919,284 | 0.79% | 19,689 | Up ×1 | |||
| ADSK Autodesk, Inc. - Common Stock | $1,790,803 | 0.74% | 9,211 | $538,502 | Up ×2 | ||
| URA | $1,605,567 | 0.66% | 36,741 | $-118,670 | Up ×1 | ||
| MDB MongoDB, Inc. - Class A Common Stock | $1,564,286 | 0.65% | 4,657 | Up ×1 | |||
| ONC BeOne Medicines Ltd. - American Depositary Shares | $1,378,115 | 0.57% | 4,836 | Up ×1 | |||
| AAPL Apple Inc. - Common Stock | $1,322,376 | 0.55% | 4,570 | $162,556 | |||
| MOAT | $908,610 | 0.38% | 8,740 | $-13,908 | Down ×2 | ||
| QQQM Invesco NASDAQ 100 ETF | $886,621 | 0.37% | 2,926 | $40,869 | Down ×1 | ||
| Unknown issuer (CUSIP: 314352105) | $785,049 | 0.33% | 5,199 | Up ×1 | |||
| BOXX | $766,354 | 0.32% | 6,545 | $5,236 | |||
| MA Mastercard Incorporated Common Stock | $737,065 | 0.31% | 1,435 | $-1,616,585 | Down ×3 | ||
| KMI Kinder Morgan, Inc. Common Stock | $722,834 | 0.30% | 22,610 | $-61,137 | Down ×1 | ||
| GS Goldman Sachs Group, Inc. (The) Common Stock | $696,276 | 0.29% | 688 | $104,209 | Down ×1 | ||
| MO Altria Group, Inc. | $692,067 | 0.29% | 9,619 | $45,308 | Down ×3 | ||
| ENB Enbridge Inc Common Stock | $650,195 | 0.27% | 11,994 | $840 | |||
| AHR American Healthcare REIT, Inc. Common Stock | $649,751 | 0.27% | 12,459 | $64,998 | Up ×1 | ||
| BRW Saba Capital Income & Opportunities Fund SBI | $591,275 | 0.24% | 89,996 | $-1,430 | Up ×6 | ||
| SPYM | $575,371 | 0.24% | 6,547 | $92,514 | Up ×1 | ||
| OMF OneMain Holdings, Inc. Common Stock | $559,994 | 0.23% | 9,185 | $74,242 | Up ×2 | ||
| MC Moelis & Company Class A Common Stock | $551,060 | 0.23% | 8,423 | $71,041 | Up ×1 | ||
| NNN NNN REIT, Inc. Common Stock | $544,132 | 0.23% | 11,694 | $56,892 | Up ×5 | ||
| NSA National Storage Affiliates Trust Common Shares of Beneficial Interest | $526,975 | 0.22% | 11,850 | $-21,963 | Down ×1 | ||
| DUK Duke Energy Corporation (Holding Company) Common Stock | $515,541 | 0.21% | 4,073 | $-15,162 | Up ×4 | ||
| NLY Annaly Capital Management Inc. Common Stock | $514,518 | 0.21% | 23,011 | $39,277 | Up ×1 | ||
| STAG Stag Industrial, Inc. Common Stock | $512,435 | 0.21% | 13,464 | $31,774 | Up ×1 | ||
| T AT&T Inc. | $493,314 | 0.20% | 23,832 | $-206,900 | Down ×1 | ||
| VICI VICI Properties Inc. Common Stock | $450,977 | 0.19% | 16,986 | $10,929 | Up ×5 | ||
| JMST | $449,973 | 0.19% | 8,823 | $219,288 | Up ×1 | ||
| STWD STARWOOD PROPERTY TRUST, INC. Starwood Property Trust Inc. | $447,652 | 0.19% | 27,329 | $5,716 | Up ×6 | ||
| MRP Millrose Properties, Inc. Class A Common Stock | $440,335 | 0.18% | 14,653 | $38,731 | Up ×4 | ||
| AMT American Tower Corporation (REIT) Common Stock | $398,157 | 0.16% | 2,434 | $-22,514 | Down ×1 | ||
| AMAT Applied Materials, Inc. - Common Stock | $369,453 | 0.15% | 511 | ||||
| IWF | $365,060 | 0.15% | 2,940 | $51,656 | Up ×1 | ||
| ICSH | $342,237 | 0.14% | 6,766 | $-5,081,281 | Down ×1 | ||
| VBIL Vanguard 0-3 Month Treasury Bill ETF | $332,129 | 0.14% | 4,389 | Up ×1 | |||
| SPHY | $331,570 | 0.14% | 14,145 | $-6,637 | Down ×4 | ||
| MTBA | $319,200 | 0.13% | 6,505 | $-16,648,046 | Down ×2 | ||
| JPM JP Morgan Chase & Co. Common Stock | $227,494 | 0.09% | 695 | $23,053 | |||
| MPWR Monolithic Power Systems, Inc. - Common Stock | $210,119 | 0.09% | 152 | ||||
| HEIA | $200,912 | 0.08% | 779 | ||||
| SPY SPY | $200,881 | 0.08% | 269 | Up ×1 | |||
| SOTK Sono-Tek Corporation - Common Stock | $88,869 | 0.04% | 14,521 | $29,914 | |||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
| Security | Value | % of portfolio | Streak |
|---|---|---|---|
| AMZN | $6,186,353 | 2.56% | up ×6 |
| JNJ | $4,581,918 | 1.90% | up ×4 |
| ESI | $3,864,404 | 1.60% | up ×3 |
| BRX | $3,455,677 | 1.43% | up ×4 |
| NFLX | $2,695,421 | 1.12% | up ×3 |
| BRW | $591,275 | 0.24% | up ×6 |
| NNN | $544,132 | 0.23% | up ×5 |
| DUK | $515,541 | 0.21% | up ×4 |
| VICI | $450,977 | 0.19% | up ×5 |
| STWD | $447,652 | 0.19% | up ×6 |
| MRP | $440,335 | 0.18% | up ×4 |
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| MBB | $19,740,008 | 208,845 | 8.17% |
| LLY | $3,888,552 | 3,242 | 1.61% |
| EW | $3,630,250 | 40,131 | 1.50% |
| LNG | $2,703,442 | 11,311 | 1.12% |
| V | $2,694,629 | 7,854 | 1.12% |
| DFTX | $2,677,282 | 56,915 | 1.11% |
| BWA | $2,483,692 | 37,405 | 1.03% |
| UNM | $2,435,882 | 27,247 | 1.01% |
| MS | $2,156,299 | 10,315 | 0.89% |
| LYV | $2,103,018 | 11,485 | 0.87% |
| JHX | $2,079,582 | 79,434 | 0.86% |
| DNTH | $1,919,284 | 19,689 | 0.79% |
| MDB | $1,564,286 | 4,657 | 0.65% |
| ONC | $1,378,115 | 4,836 | 0.57% |
| Unknown issuer (CUSIP: 314352105) | $785,049 | 5,199 | 0.33% |
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| FLXR | Bought more | +255K | +$10.0M |
| FLSP | Bought more | +98K | +$3.1M |
| CTA | Trimmed | -3K | -$1.9M |
| MA | Trimmed | -3K | -$1.6M |
| CVS | Bought more | +6K | +$1.6M |
| JNJ | Bought more | +6K | +$1.5M |
| GLDM | Bought more | +9K | -$1.5M |
| SPMO | Trimmed | -412 | +$1.4M |
| AMZN | Bought more | +2K | +$1.2M |
| ESI | Bought more | +1K | +$1.1M |
2 positions hidden (data completeness check)
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| JBND | June 30, 2026 | 259,406 | $13,948,235 | -1.5% |
| BUCK | June 30, 2025 | 528,745 | $13,049,422 | No longer tracked |
| SVOL | June 30, 2025 | 502,384 | $9,133,342 | No longer tracked |
| ANGL | Dec. 31, 2025 | 236,382 | $7,027,636 | -1.3% |
| META | March 31, 2025 | 6,264 | $3,667,635 | -5.1% |
| TRGP | June 30, 2026 | 14,038 | $3,519,798 | 12.8% |
| IGV | March 31, 2026 | 32,457 | $3,430,380 | No longer tracked |
| CTAS | June 30, 2025 | 16,328 | $3,355,894 | -9.0% |
| MPWR | March 31, 2025 | 5,410 | $3,201,097 | 125.8% |
| MKTX | June 30, 2025 | 14,212 | $3,074,766 | -27.6% |
| BRO | March 31, 2025 | 29,771 | $3,037,237 | -42.1% |
| SGOV | March 31, 2025 | 30,260 | $3,035,648 | -0.1% |
| PHM | March 31, 2025 | 27,460 | $2,990,394 | 24.8% |
| AXP | June 30, 2026 | 9,862 | $2,982,974 | -1.1% |
| RMD | June 30, 2025 | 13,271 | $2,970,713 | -10.7% |
| APH | June 30, 2025 | 45,194 | $2,964,274 | 55.6% |
| GWW | June 30, 2025 | 2,998 | $2,961,514 | 25.1% |
| LMT | June 30, 2025 | 6,567 | $2,933,545 | 25.9% |
| ROIV | June 30, 2026 | 105,893 | $2,933,236 | 4.7% |
| MU | March 31, 2026 | 10,170 | $2,902,620 | 176.6% |
| APD | June 30, 2025 | 9,704 | $2,861,904 | 9.3% |
| PM | March 31, 2025 | 23,620 | $2,842,667 | 20.3% |
| TT | June 30, 2025 | 8,390 | $2,826,759 | 3.8% |
| LDOS | June 30, 2025 | 20,888 | $2,818,627 | -8.1% |
| GOOGL | June 30, 2025 | 18,059 | $2,792,644 | 94.6% |
| NTAP | March 31, 2025 | 23,936 | $2,778,491 | 120.0% |
| MMM | Sept. 30, 2025 | 18,052 | $2,748,236 | 16.2% |
| XMHQ | June 30, 2025 | 29,584 | $2,707,824 | No longer tracked |
| ORCL | June 30, 2025 | 19,071 | $2,666,317 | -34.8% |
| ANET | Sept. 30, 2025 | 25,901 | $2,649,931 | 26.2% |
| MDGL | March 31, 2026 | 4,466 | $2,600,730 | 2.4% |
| ABT | Dec. 31, 2025 | 19,074 | $2,554,772 | -8.3% |
| ROL | Dec. 31, 2025 | 43,316 | $2,544,382 | -39.7% |
| ORLY | Sept. 30, 2025 | 28,143 | $2,536,529 | -17.2% |
| MSI | Sept. 30, 2025 | 6,029 | $2,534,953 | 5.6% |
| BRO | Sept. 30, 2025 | 22,400 | $2,483,488 | -23.3% |
| DECK | June 30, 2025 | 22,142 | $2,475,697 | -13.0% |
| WAT | Sept. 30, 2025 | 7,079 | $2,470,854 | 38.4% |
| MSCI | Sept. 30, 2025 | 4,281 | $2,469,024 | -0.4% |
| CPRT | Sept. 30, 2025 | 50,277 | $2,467,092 | -24.3% |
| AON | Sept. 30, 2025 | 6,908 | $2,464,498 | -1.7% |
| DHR | March 31, 2026 | 10,638 | $2,435,251 | 13.2% |
| SNA | Sept. 30, 2025 | 7,822 | $2,434,050 | 13.1% |
| CTAS | Dec. 31, 2025 | 11,856 | $2,433,563 | 7.9% |
| V | Dec. 31, 2025 | 7,006 | $2,391,708 | 4.8% |
| MRSH | Sept. 30, 2025 | 10,934 | $2,390,610 | -6.6% |
| FICO | Sept. 30, 2025 | 1,297 | $2,370,864 | -21.8% |
| BTC | March 31, 2026 | 60,929 | $2,359,780 | No longer tracked |
| SRE | March 31, 2026 | 26,552 | $2,344,276 | -10.8% |
| BBJP | March 31, 2025 | 42,643 | $2,340,689 | No longer tracked |
| QUAL | June 30, 2025 | 13,569 | $2,318,779 | No longer tracked |
| UNH | Sept. 30, 2025 | 7,368 | $2,298,595 | 13.6% |
| AZO | Sept. 30, 2025 | 605 | $2,245,899 | -30.0% |
| VRSK | Dec. 31, 2025 | 8,727 | $2,194,928 | -15.8% |
| TEL | June 30, 2026 | 10,433 | $2,180,706 | -0.4% |
| PAYX | Dec. 31, 2025 | 16,987 | $2,153,272 | 10.1% |
| CPAY | Dec. 31, 2025 | 7,393 | $2,129,628 | 36.0% |
| MTB | March 31, 2026 | 10,505 | $2,116,547 | 16.9% |
| CBOE | Dec. 31, 2025 | 8,456 | $2,073,834 | No longer tracked |
| MTH | June 30, 2026 | 33,060 | $2,044,416 | -13.1% |
| MCK | Dec. 31, 2025 | 2,637 | $2,037,188 | 3.7% |
| XLF | March 31, 2026 | 35,038 | $1,919,031 | No longer tracked |
| WMG | June 30, 2026 | 74,793 | $1,910,225 | 1.6% |
| HOOD | June 30, 2026 | 26,118 | $1,809,977 | -2.2% |
| LPLA | March 31, 2026 | 4,996 | $1,784,421 | 18.8% |
| XLE | June 30, 2025 | 17,923 | $1,674,921 | No longer tracked |
| XLU | June 30, 2025 | 21,230 | $1,673,985 | No longer tracked |
| FCTE | Sept. 30, 2025 | 61,812 | $1,644,199 | |
| HUBS | March 31, 2026 | 4,080 | $1,637,304 | -1.5% |
| BSX | June 30, 2026 | 24,675 | $1,548,356 | 20.6% |
| TWLO | June 30, 2026 | 12,272 | $1,544,063 | 7.1% |
| CL | March 31, 2025 | 14,462 | $1,314,740 | -2.8% |
| XHB | June 30, 2025 | 13,240 | $1,282,956 | No longer tracked |
| GD | March 31, 2025 | 4,591 | $1,209,683 | 43.7% |
| HCA | March 31, 2025 | 3,738 | $1,121,961 | 18.8% |
| NVR | June 30, 2025 | 153 | $1,108,392 | -14.1% |
| AMAT | March 31, 2025 | 6,678 | $1,086,043 | 240.4% |
| MTD | March 31, 2025 | 859 | $1,051,141 | 20.8% |
| KLAC | March 31, 2025 | 1,620 | $1,020,794 | -72.6% |
| VRT | Dec. 31, 2025 | 5,767 | $870,010 | 58.9% |
| MSFT | March 31, 2026 | 1,623 | $784,915 | 30.5% |
| ORCL | March 31, 2026 | 3,897 | $759,564 | -3.1% |
| MPWR | March 31, 2026 | 789 | $715,118 | 19.8% |
| LRCX | March 31, 2026 | 3,996 | $684,035 | 43.9% |
| GILD | June 30, 2025 | 6,040 | $676,781 | 31.2% |
| ANET | March 31, 2026 | 4,863 | $637,199 | 49.7% |
| PM | March 31, 2026 | 3,930 | $630,372 | 15.5% |
| GRMN | March 31, 2026 | 3,094 | $627,618 | 26.7% |
| FFIV | March 31, 2026 | 2,421 | $617,984 | 30.9% |
| META | March 31, 2026 | 927 | $611,903 | -4.4% |
| CDNS | March 31, 2026 | 1,954 | $610,781 | 13.5% |
| KLAC | March 31, 2026 | 502 | $609,970 | -87.4% |
| XLC | Sept. 30, 2025 | 5,570 | $604,512 | No longer tracked |
| ALLE | March 31, 2026 | 3,795 | $604,240 | 12.3% |
| ADP | March 31, 2026 | 2,303 | $592,401 | 37.5% |
| RSG | March 31, 2026 | 2,778 | $588,742 | 0.9% |
| FAST | March 31, 2026 | 14,606 | $586,139 | 10.3% |
| WEC | June 30, 2025 | 5,339 | $581,831 | 5.1% |
| VRSN | March 31, 2026 | 2,385 | $579,436 | 10.1% |
| TSCO | March 31, 2026 | 11,338 | $567,013 | -22.9% |
| VST | Sept. 30, 2025 | 2,821 | $546,738 | -28.4% |
| AZO | March 31, 2026 | 160 | $542,640 | -11.1% |
| CTVA | Sept. 30, 2025 | 6,775 | $504,941 | 20.6% |
| XONE | June 30, 2026 | 10,000 | $495,200 | No longer tracked |
| ATI | Sept. 30, 2025 | 5,735 | $495,160 | 162.5% |
| KNSL | Sept. 30, 2025 | 1,015 | $491,159 | -9.5% |
| CYBR | Sept. 30, 2025 | 1,197 | $487,035 | No longer tracked |
| TWLO | Sept. 30, 2025 | 3,831 | $476,423 | 120.9% |
| ROIV | Sept. 30, 2025 | 41,880 | $471,988 | 144.9% |
| CODI | June 30, 2025 | 24,643 | $460,076 | 85.0% |
| BCC | June 30, 2025 | 3,624 | $355,490 | -7.2% |
| UNP | June 30, 2025 | 1,284 | $303,332 | 31.1% |
| SPAB | March 31, 2025 | 11,180 | $279,388 | No longer tracked |
| MSFT | June 30, 2025 | 740 | $277,789 | -2.9% |
| XLRE | June 30, 2025 | 6,478 | $271,104 | No longer tracked |
| SPAB | June 30, 2026 | 9,443 | $241,935 | No longer tracked |
| HEIA | March 31, 2026 | 912 | $230,216 | No longer tracked |
| TMO | March 31, 2026 | 369 | $213,817 | 26.1% |
| PDBC | Sept. 30, 2025 | 16,059 | $209,409 | |
| HR | June 30, 2025 | 11,413 | $192,877 | 22.5% |