Vault-13

ANI PHARMACEUTICALS INC ANIP 2.25 09.01.29

NOTE 2.250% 9/0 · US DOMESTIC · CUSIP 00182CAC7

27 institutional holders +3 vs Q3 2025
16,341,50016.3m shares reported held*
$353.5mreported value*
7 new 9 added 6 reduced 5 sold out net sold ≈ $33.6m (+4.2m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $21.63.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0102030Q3 25: 24Q4 25: 2727Q3 25Q4 25
Numbers
QuarterHolders
Q3 202524
Q4 202527

Biggest buyers

Alberta Investment Management Corp New +30,000,000+30.0m
Brevan Howard Capital Management LP New +15,000,000+15.0m
Context Capital Management, LLC New +10,000,000+10.0m
Point72 Asset Management, L.P. New +7,500,000+7.5m
CITIGROUP INC Added +7,070,000+7.1m
CAMDEN ASSET MANAGEMENT L P /CA Added +5,000,000+5.0m
SUSQUEHANNA ADVISORS GROUP, INC. New +5,000,000+5.0m
PICTON MAHONEY ASSET MANAGEMENT New +4,000,000+4.0m
Jefferies Financial Group Inc. Added +3,110,000+3.1m
MILLENNIUM MANAGEMENT LLC Added +3,000,000+3.0m

Biggest sellers

Linden Advisors LP Sold out -71,000,000-71.0m
BlackRock, Inc. Reduced -16,550,000-16.6m
LAZARD ASSET MANAGEMENT LLC Reduced -6,943,000-6.9m
Polar Asset Management Partners Inc. Sold out -6,000,000-6.0m
JPMORGAN CHASE & CO Reduced -5,521,000-5.5m
CITADEL ADVISORS LLC Reduced -4,500,000-4.5m
PICTON MAHONEY ASSET MANAGEMENT Sold out -4,000,000-4.0m
HBK INVESTMENTS L P Reduced -2,500,000-2.5m
Jain Global LLC Sold out -2,500,000-2.5m
Empyrean Capital Partners, LP Reduced -2,000,000-2.0m

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 CAMDEN ASSET MANAGEMENT L P /CA 1.37% of their portfolio Los Angeles, CA 43,017,00043.0m $54.1m $54.1m 1.37% Added +5.0m +5,000,000
2 Alberta Investment Management Corp 0.23% of their portfolio EDMONTON, A0 30,000,00030.0m $37.9m $37.9m 0.23% New
3 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 24,000,00024.0m $30.3m $30.3m 0.02% Added +3.0m +3,000,000
4 HBK INVESTMENTS L P 0.31% of their portfolio DALLAS, TX 22,650,00022.6m $28.6m $28.6m 0.31% Reduced -2.5m -2,500,000
5 Empyrean Capital Partners, LP 0.92% of their portfolio LOS ANGELES, CA 21,000,00021.0m $26.5m $26.5m 0.92% Reduced -2.0m -2,000,000
6 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 15,000,00015.0m $18.9m $18.9m 0.01% Reduced -4.5m -4,500,000
7 Brevan Howard Capital Management LP 0.37% of their portfolio ST. HELIER, Y9 15,000,00015.0m $19.1m $19.1m 0.37% New
8 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 13,009,00013.0m $16.7m $16.7m 0.00% Reduced -5.5m -5,521,000
9 ABSOLUTE INVESTMENT ADVISERS, LLC 1.65% of their portfolio ROSEMARY BEACH, FL 11,473,00011.5m $14.5m $14.5m 1.65% Unchanged
10 BlackRock, Inc. 0.00% of their portfolio New York, NY 11,060,00011.1m $13.9m $13.9m 0.00% Reduced -16.6m -16,550,000
11 Context Capital Management, LLC 0.33% of their portfolio LAJOLLA, CA 10,000,00010.0m $12.6m $12.6m 0.33% New
12 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 8,070,0008.1m $10.1m $10.1m 0.01% Added +7.1m +7,070,000
13 Jefferies Financial Group Inc. 0.08% of their portfolio NEW YORK, NY 7,620,0007.6m $9.6m $9.6m 0.08% Added +3.1m +3,110,000
14 Point72 Asset Management, L.P. 0.01% of their portfolio STAMFORD, CT 7,500,0007.5m $9.5m $9.5m 0.01% New
15 Universal- Beteiligungs- und Servicegesellschaft mbH 0.01% of their portfolio FRANKFURT AM MAIN, 2M 5,310,0005.3m $6.8m $6.8m 0.01% Added +1.2m +1,210,000
16 GABELLI FUNDS LLC 0.04% of their portfolio Rye, NY 5,050,0005.0m $6.4m $6.4m 0.04% Unchanged
17 SUSQUEHANNA ADVISORS GROUP, INC. 0.00% of their portfolio BALA CYNWYD, PA 5,000,0005.0m $62.9k $62.9k 0.00% New
18 PICTON MAHONEY ASSET MANAGEMENT 0.06% of their portfolio Toronto, A6 4,000,0004.0m $5.0m $5.0m 0.06% New
19 FMR LLC 0.00% of their portfolio BOSTON, MA 2,564,0002.6m $3.2m $3.2m 0.00% Unchanged
20 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 1,540,0001.5m $1.9m $1.9m 0.00% Added +443.0k +443,000
21 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 1,500,0001.5m $1.9m $1.9m 0.00% New
22 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 960,000960.0k $12.1k $12.1k 0.00% Reduced -6.9m -6,943,000
23 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 850,000850.0k $1.1m $1.1m 0.00% Added +150.0k +150,000
24 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 837,000837.0k $1.1m $1.1m 0.00% Unchanged
25 Ares Systematic Credit Ltd 0.10% of their portfolio LONDON, X0 100,000100.0k $127.0k $127.0k 0.10% First filing
26 Calamos Advisors LLC 0.00% of their portfolio NAPERVILLE, IL 39,00039.0k $49.3k $49.3k 0.00% Added +10.0k +10,000
27 Boussard & Gavaudan Investment Management LLP 1.79% of their portfolio London, X0 18,50018.5k $23.6m $23.6m 1.79% Added +8.5k +8,500