Vault-13

ADVANCED ENERGY INDS AEIS 2.5 09.15.28

NOTE 2.500% 9/1 · US DOMESTIC · CUSIP 007973AE0

57 institutional holders +1 vs Q1 2025
25,451,22925.5m shares reported held*
$659.8mreported value*
8 new 10 added 19 reduced 7 sold out net sold ≈ $33.8m (+2.1m 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 ≈ $25.92.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q3 24: 47Q4 24: 49Q1 25: 56Q2 25: 5757Q3 24Q4 24Q1 25Q2 25
Numbers
QuarterHolders
Q3 202447
Q4 202449
Q1 202556
Q2 202557

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
40040Q4 24: 21 bought or addedQ4 24: 18 cut or sold outQ4 24Q1 25: 29 bought or addedQ1 25: 20 cut or sold outQ1 25Q2 25: 18 bought or addedQ2 25: 26 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q4 20242118
Q1 20252920
Q2 20251826

Biggest buyers

Linden Advisors LP Added +5,769,000+5.8m
LAZARD ASSET MANAGEMENT LLC New +4,977,000+5.0m
BANK OF MONTREAL /CAN/ Added +2,932,000+2.9m
Wellesley Asset Management Added +2,853,000+2.9m
CITIGROUP INC New +2,638,000+2.6m
Point72 Asset Management, L.P. New +2,500,000+2.5m
STATE OF WISCONSIN INVESTMENT BOARD New +2,000,000+2.0m
LORD, ABBETT & CO. LLC New +1,779,000+1.8m
MORGAN STANLEY New +1,400,000+1.4m
CAMDEN ASSET MANAGEMENT L P /CA Added +1,045,000+1.0m

Biggest sellers

VOYA INVESTMENT MANAGEMENT LLC Reduced -24,235,000-24.2m
Kohlberg Kravis Roberts & Co. L.P. Sold out -12,500,000-12.5m
STEELHEAD PARTNERS LLC Reduced -6,800,000-6.8m
SHENKMAN CAPITAL MANAGEMENT INC Reduced -3,511,000-3.5m
Union Bancaire Privee, UBP SA Reduced -3,380,000-3.4m
TORONTO DOMINION BANK Sold out -2,000,000-2.0m
JANE STREET GROUP, LLC Sold out -1,174,000-1.2m
AMERIPRISE FINANCIAL INC Reduced -1,003,000-1.0m
RWC Asset Management LLP Reduced -1,000,000-1.0m
Empyrean Capital Partners, LP Reduced -712,000-712.0k

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Linden Advisors LP 0.57% of their portfolio New York, NY 77,052,00077.1m $92.5m $92.5m 0.57% Added +5.8m +5,769,000
2 STEELHEAD PARTNERS LLC 3.75% of their portfolio SEATTLE, WA 62,000,00062.0m $74.4m $74.4m 3.75% Reduced -6.8m -6,800,000
3 MacKay Shields LLC 1.75% of their portfolio New York, NY 45,386,00045.4m $54.6m $54.6m 1.75% Reduced -238.0k -238,000
4 ZAZOVE ASSOCIATES LLC 3.70% of their portfolio INCLINE VILLAGE, NV 37,815,00037.8m $45.4m $45.4m 3.70% Reduced -230.0k -230,000
5 WOLVERINE ASSET MANAGEMENT LLC 0.68% of their portfolio CHICAGO, IL 33,905,00033.9m $40.7m $40.7m 0.68% Unchanged
6 BlackRock, Inc. 0.00% of their portfolio New York, NY 28,090,00028.1m $33.6m $33.6m 0.00% Added +775.0k +775,000
7 VOYA INVESTMENT MANAGEMENT LLC 0.03% of their portfolio ATLANTA, GA 26,165,00026.2m $31.5m $31.5m 0.03% Reduced -24.2m -24,235,000
8 Calamos Advisors LLC 0.13% of their portfolio NAPERVILLE, IL 24,506,00024.5m $29.4m $29.4m 0.13% Added +222.0k +222,000
9 M&G PLC 0.15% of their portfolio London, X0 22,613,00022.6m $27.1m $27.1m 0.15% Reduced -380.0k -380,000
10 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 19,517,00019.5m $23.4m $23.4m 0.00% Reduced -391.0k -391,000
11 Empyrean Capital Partners, LP 1.03% of their portfolio LOS ANGELES, CA 18,500,00018.5m $22.2m $22.2m 1.03% Reduced -712.0k -712,000
12 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.03% of their portfolio TORONTO, A6 12,500,00012.5m $15.0m $15.0m 0.03% Unchanged
13 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 11,225,00011.2m $13.5m $13.5m 0.00% Reduced -225.0k -225,000
14 FMR LLC 0.00% of their portfolio BOSTON, MA 10,025,00010.0m $12.0m $12.0m 0.00% Unchanged
15 ABSOLUTE INVESTMENT ADVISERS, LLC 1.48% of their portfolio ROSEMARY BEACH, FL 10,000,00010.0m $12.0m $12.0m 1.48% Unchanged
16 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 7,353,0007.4m $8.8m $8.8m 0.01% Reduced -154.0k -154,000
17 CAMDEN ASSET MANAGEMENT L P /CA 0.20% of their portfolio Los Angeles, CA 7,195,0007.2m $8.6m $8.6m 0.20% Added +1.0m +1,045,000
18 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 7,000,0007.0m $8.4m $8.4m 0.00% Reduced -1.0m -1,003,000
19 Socorro Asset Management LP 2.81% of their portfolio DALLAS, TX 7,000,0007.0m $8.4m $8.4m 2.81% Unchanged
20 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio FRANKFURT AM MAIN, 2M 6,800,0006.8m $8.2m $8.2m 0.01% Unchanged
21 SHENKMAN CAPITAL MANAGEMENT INC 0.84% of their portfolio NEW YORK, NY 6,634,0006.6m $8.4m $8.4m 0.84% Reduced -3.5m -3,511,000
22 SSI INVESTMENT MANAGEMENT LLC 0.55% of their portfolio Los Angeles, CA 6,545,0006.5m $7.8m $7.8m 0.55% Added +797.0k +797,001
23 Wellesley Asset Management 0.74% of their portfolio PORTSMOUTH, NH 6,419,0006.4m $7.7m $7.7m 0.74% Added +2.9m +2,853,000
24 LAZARD ASSET MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 4,977,0005.0m $6.0m $6.0m 0.01% New
25 OFI INVEST ASSET MANAGEMENT 0.10% of their portfolio ISSY LES MOULINEAUX, I0 3,900,0003.9m $4.0m $4.0m 0.10% Unchanged
26 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 3,158,0003.2m $3.8m $3.8m 0.00% Added +2.9m +2,932,000
27 WESTWOOD HOLDINGS GROUP INC 0.02% of their portfolio DALLAS, TX 2,750,0002.8m $2.8m $2.8m 0.02% Added +250.0k +250,000
28 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 2,638,0002.6m $3.2m $3.2m 0.00% New
29 Point72 Asset Management, L.P. 0.01% of their portfolio STAMFORD, CT 2,500,0002.5m $3.0m $3.0m 0.01% New
30 Man Group plc 0.01% of their portfolio LONDON, X0 2,450,0002.5m $2.9m $2.9m 0.01% Unchanged
31 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 2,329,0002.3m $2.8m $2.8m 0.00% Added +201.0k +201,000
32 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 2,000,0002.0m $2.4m $2.4m 0.01% New
33 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 2,000,0002.0m $2.4m $2.4m 0.00% Unchanged
34 LORD, ABBETT & CO. LLC 0.01% of their portfolio JERSEY CITY, NJ 1,779,0001.8m $2.1m $2.1m 0.01% New
35 Ameritas Investment Partners, Inc. 0.06% of their portfolio LINCOLN, NE 1,540,0001.5m $1.8m $1.8m 0.06% Unchanged
36 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 1,420,0001.4m $1.7m $1.7m 0.00% Unchanged
37 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,400,0001.4m $1.7m $1.7m 0.00% New
38 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 1,200,0001.2m $1.4m $1.4m 0.00% Unchanged
39 RWC Asset Management LLP 0.08% of their portfolio LONDON, X0 1,200,0001.2m $1.4m $1.4m 0.08% Reduced -1.0m -1,000,000
40 Union Bancaire Privee, UBP SA 0.02% of their portfolio GENEVA 1, V8 1,125,0001.1m $1.2m $1.2m 0.02% Reduced -3.4m -3,380,000
41 PALISADE CAPITAL MANAGEMENT, LP 0.03% of their portfolio FORT LEE, NJ 875,000875.0k $1.1m $1.1m 0.03% Unchanged
42 Universal- Beteiligungs- und Servicegesellschaft mbH 0.00% of their portfolio FRANKFURT AM MAIN, 2M 500,000500.0k $603.6k $603.6k 0.00% Unchanged
43 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 325,000325.0k $389.3k $389.3k 0.00% Unchanged
44 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 302,000302.0k $363.3k $363.3k 0.00% Unchanged
45 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 300,000300.0k $359.9k $359.9k 0.00% Unchanged
46 Central Pacific Bank - Trust Division 0.03% of their portfolio HONOLULU, HI 205,000205.0k $245.6k $245.6k 0.03% Reduced -32.0k -32,000
47 OPPENHEIMER ASSET MANAGEMENT INC. 0.00% of their portfolio NEW YORK, NY 163,000163.0k $195.3k $195.3k 0.00% Reduced -1.0k -1,000
48 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 146,000146.0k $174.9k $174.9k 0.00% Reduced -53.0k -53,000
49 Calamos Wealth Management LLC 0.01% of their portfolio NAPERVILLE, IL 130,000130.0k $156.0k $156.0k 0.01% Reduced -31.0k -31,000
50 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 89,00089.0k $106.6k $106.6k 0.00% Added +8.0k +8,000
51 LOOMIS SAYLES & CO L P 0.01% of their portfolio BOSTON, MA 82,88182.9k $11.0m $11.0m 0.01% New
52 VIRTUS ADVISERS, LLC 0.06% of their portfolio HARTFORD, CT 82,00082.0k $98.2k $98.2k 0.06% New
53 STEPHENS INC /AR/ 0.00% of their portfolio LITTLE ROCK, AR 50,00050.0k $59.9k $59.9k 0.00% Unchanged
54 Balboa Wealth Partners 0.01% of their portfolio SCOTTSDALE, AZ 26,00026.0k $31.3k $31.3k 0.01% Reduced -4.0k -4,000
55 K2 PRINCIPAL FUND, L.P. 0.88% of their portfolio TORONTO, A6 4,0004.0k $4.8m $4.8m 0.88% Unchanged
56 LAFFER TENGLER INVESTMENTS, INC. 0.29% of their portfolio Scottsdale, AZ 1,3481.3k $1.6m $1.6m 0.29% Reduced -37 -37
57 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged