Vault-13

ADVANCED ENERGY INDS AEIS 2.5 09.15.28

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

62 institutional holders +4 vs Q3 2025
20,347,56820.3m shares reported held*
$872.4mreported value*
14 new 12 added 23 reduced 12 sold out net sold ≈ $37.5m (-3.4m 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 ≈ $42.88.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0255075Q3 24: 47Q4 24: 49Q1 25: 56Q2 25: 57Q3 25: 58Q4 25: 6262Q3 24Q4 24Q1 25Q2 25Q3 25Q4 25
Numbers
QuarterHolders
Q3 202447
Q4 202449
Q1 202556
Q2 202557
Q3 202558
Q4 202562

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 25Q3 25: 28 bought or addedQ3 25: 26 cut or sold outQ3 25Q4 25: 26 bought or addedQ4 25: 35 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q4 20242118
Q1 20252920
Q2 20251826
Q3 20252826
Q4 20252635

Biggest buyers

Alberta Investment Management Corp New +35,000,000+35.0m
MILLENNIUM MANAGEMENT LLC New +25,000,000+25.0m
DLD Asset Management, LP New +18,250,000+18.2m
Opti Capital Management, LP New +14,338,000+14.3m
Point72 Asset Management, L.P. New +13,500,000+13.5m
TENOR CAPITAL MANAGEMENT Co., L.P. New +11,866,000+11.9m
ARISTEIA CAPITAL, L.L.C. New +10,000,000+10.0m
BNP PARIBAS FINANCIAL MARKETS Added +9,676,000+9.7m
SILVERBACK ASSET MANAGEMENT LLC New +7,500,000+7.5m
Linden Advisors LP Added +6,000,000+6.0m

Biggest sellers

WOLVERINE ASSET MANAGEMENT LLC Sold out -53,203,000-53.2m
STEELHEAD PARTNERS LLC Reduced -24,735,000-24.7m
Empyrean Capital Partners, LP Sold out -22,500,000-22.5m
BlackRock, Inc. Reduced -20,790,000-20.8m
JPMORGAN CHASE & CO Reduced -18,948,000-18.9m
ZAZOVE ASSOCIATES LLC Reduced -14,550,000-14.6m
CAMDEN ASSET MANAGEMENT L P /CA Sold out -11,000,000-11.0m
Wellesley Asset Management Sold out -5,904,000-5.9m
M&G PLC Reduced -5,037,000-5.0m
LAZARD ASSET MANAGEMENT LLC Sold out -4,675,000-4.7m

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Linden Advisors LP 0.59% of their portfolio New York, NY 58,552,00058.6m $96.1m $96.1m 0.59% Added +6.0m +6,000,000
2 MacKay Shields LLC 2.56% of their portfolio New York, NY 44,638,00044.6m $73.3m $73.3m 2.56% Reduced -536.0k -536,000
3 Calamos Advisors LLC 0.29% of their portfolio NAPERVILLE, IL 43,482,00043.5m $71.4m $71.4m 0.29% Added +5.0m +4,956,000
4 STEELHEAD PARTNERS LLC 4.85% of their portfolio SEATTLE, WA 40,000,00040.0m $65.6m $65.6m 4.85% Reduced -24.7m -24,735,000
5 Alberta Investment Management Corp 0.34% of their portfolio EDMONTON, A0 35,000,00035.0m $57.4m $57.4m 0.34% New
6 MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio NEW YORK, NY 25,000,00025.0m $41.1m $41.1m 0.03% New
7 BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio PARIS, I0 21,109,00021.1m $34.6m $34.6m 0.02% Added +9.7m +9,676,000
8 DLD Asset Management, LP 3.11% of their portfolio NEW YORK, NY 18,250,00018.2m $30.0m $30.0m 3.11% New
9 M&G PLC 0.15% of their portfolio London, X0 17,576,00017.6m $28.6m $28.6m 0.15% Reduced -5.0m -5,037,000
10 BlackRock, Inc. 0.00% of their portfolio New York, NY 14,440,00014.4m $23.7m $23.7m 0.00% Reduced -20.8m -20,790,000
11 Opti Capital Management, LP 1.72% of their portfolio New York, NY 14,338,00014.3m $23.6m $23.6m 1.72% New
12 Point72 Asset Management, L.P. 0.03% of their portfolio STAMFORD, CT 13,500,00013.5m $22.2m $22.2m 0.03% New
13 FMR LLC 0.00% of their portfolio BOSTON, MA 12,393,00012.4m $20.3m $20.3m 0.00% Added +2.6m +2,568,000
14 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 12,025,00012.0m $19.8m $19.8m 0.00% Added +400.0k +400,000
15 TENOR CAPITAL MANAGEMENT Co., L.P. 0.28% of their portfolio NEW YORK, NY 11,866,00011.9m $19.6m $19.6m 0.28% New
16 ARISTEIA CAPITAL, L.L.C. 0.47% of their portfolio GREENWICH, CT 10,000,00010.0m $16.4m $16.4m 0.47% New
17 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.02% of their portfolio TORONTO, A6 8,500,0008.5m $14.0m $14.0m 0.02% Reduced -2.5m -2,500,000
18 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 7,904,0007.9m $13.0m $13.0m 0.00% Reduced -18.9m -18,948,000
19 SILVERBACK ASSET MANAGEMENT LLC 1.84% of their portfolio DURHAM, NC 7,500,0007.5m $12.3m $12.3m 1.84% New
20 ABSOLUTE INVESTMENT ADVISERS, LLC 1.40% of their portfolio ROSEMARY BEACH, FL 7,500,0007.5m $12.3m $12.3m 1.40% Reduced -2.5m -2,500,000
21 SSI INVESTMENT MANAGEMENT LLC 0.70% of their portfolio Los Angeles, CA 6,315,0006.3m $10.4m $10.4m 0.70% Reduced -230.0k -229,999
22 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 5,433,0005.4m $8.9m $8.9m 0.00% Added +4.9m +4,923,000
23 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 5,004,0005.0m $8.2m $8.2m 0.00% Reduced -996.0k -996,000
24 Aequim Alternative Investments LP 0.16% of their portfolio MILL VALLEY, CA 5,000,0005.0m $8.2m $8.2m 0.16% New
25 Socorro Asset Management LP 3.18% of their portfolio DALLAS, TX 5,000,0005.0m $8.2m $8.2m 3.18% Reduced -1.0m -1,000,000
26 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 4,825,0004.8m $7.9m $7.9m 0.00% Added +4.0m +4,002,000
27 Universal- Beteiligungs- und Servicegesellschaft mbH 0.01% of their portfolio FRANKFURT AM MAIN, 2M 4,000,0004.0m $6.7m $6.7m 0.01% Added +1.8m +1,800,000
28 OFI INVEST ASSET MANAGEMENT 0.08% of their portfolio ISSY LES MOULINEAUX, I0 3,900,0003.9m $5.5m $5.5m 0.08% Unchanged
29 ADVENT CAPITAL MANAGEMENT /DE/ 0.14% of their portfolio NEW YORK, NY 3,615,0003.6m $6.0m $6.0m 0.14% Added +1.8m +1,780,000
30 SHENKMAN CAPITAL MANAGEMENT INC 0.62% of their portfolio NEW YORK, NY 3,536,0003.5m $5.9m $5.9m 0.62% Reduced -612.0k -612,000
31 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 3,250,0003.2m $5.3m $5.3m 0.00% Reduced -3.8m -3,800,000
32 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 3,234,0003.2m $5.3m $5.3m 0.00% Added +401.0k +401,000
33 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 3,000,0003.0m $4.9m $4.9m 0.01% Unchanged
34 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 3,000,0003.0m $4.9m $4.9m 0.00% Reduced -1.0m -1,000,000
35 WESTWOOD HOLDINGS GROUP INC 0.02% of their portfolio DALLAS, TX 2,250,0002.2m $2.2m $2.2m 0.02% Reduced -500.0k -500,000
36 Union Bancaire Privee, UBP SA 0.03% of their portfolio GENEVA 1, V8 1,695,0001.7m $2.4m $2.4m 0.03% Reduced -30.0k -30,000
37 LORD, ABBETT & CO. LLC 0.01% of their portfolio JERSEY CITY, NJ 1,582,0001.6m $2.6m $2.6m 0.01% Reduced -1.9m -1,941,000
38 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 1,300,0001.3m $2.1m $2.1m 0.00% New
39 Ares Systematic Credit Ltd 1.34% of their portfolio LONDON, X0 1,000,0001.0m $1.6m $1.6m 1.34% First filing
40 Calamos Wealth Management LLC 0.03% of their portfolio NAPERVILLE, IL 515,000515.0k $845.2k $845.2k 0.03% Reduced -2.0k -2,000
41 PALISADE CAPITAL MANAGEMENT, LP 0.02% of their portfolio FORT LEE, NJ 487,000487.0k $799.5k $799.5k 0.02% Reduced -264.0k -264,000
42 Kohlberg Kravis Roberts & Co. L.P. 0.01% of their portfolio NEW YORK, NY 375,000375.0k $615.8k $615.8k 0.01% Unchanged
43 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 364,000364.0k $596.8k $596.8k 0.00% New
44 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 325,000325.0k $532.8k $532.8k 0.00% Unchanged
45 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 288,000288.0k $472.4k $472.4k 0.00% Reduced -3.3m -3,340,000
46 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 234,000234.0k $383.6k $383.6k 0.00% Unchanged
47 Central Pacific Bank - Trust Division 0.04% of their portfolio HONOLULU, HI 205,000205.0k $336.1k $336.1k 0.04% Unchanged
48 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 200,000200.0k $328.1k $328.1k 0.00% Unchanged
49 OPPENHEIMER ASSET MANAGEMENT INC. 0.00% of their portfolio NEW YORK, NY 165,000165.0k $270.5k $270.5k 0.00% Reduced -2.0k -2,000
50 ZAZOVE ASSOCIATES LLC 0.02% of their portfolio INCLINE VILLAGE, NV 150,000150.0k $246.2k $246.2k 0.02% Reduced -14.6m -14,550,000
51 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 81,00081.0k $132.8k $132.8k 0.00% Unchanged
52 LOOMIS SAYLES & CO L P 0.02% of their portfolio BOSTON, MA 80,34180.3k $16.8m $16.8m 0.02% Added +23.4k +23,387
53 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 59,00059.0k $96.7k $96.7k 0.00% Reduced -400.0k -400,000
54 STEPHENS INC /AR/ 0.00% of their portfolio LITTLE ROCK, AR 50,00050.0k $82.0k $82.0k 0.00% Unchanged
55 VIRTUS ADVISERS, LLC 0.04% of their portfolio HARTFORD, CT 47,00047.0k $77.1k $77.1k 0.04% Reduced -35.0k -35,000
56 Balboa Wealth Partners 0.01% of their portfolio SCOTTSDALE, AZ 26,00026.0k $42.3k $42.3k 0.01% Unchanged
57 Boussard & Gavaudan Investment Management LLP 2.89% of their portfolio London, X0 22,77822.8k $38.1m $38.1m 2.89% Added +15.8k +15,778
58 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 17,00017.0k $27.9k $27.9k 0.00% New
59 CoreCap Advisors, LLC 0.00% of their portfolio SOUTHFIELD, MI 5,0005.0k $8.1k $8.1k 0.00% New
60 K2 PRINCIPAL FUND, L.P. 0.68% of their portfolio TORONTO, A6 4,0004.0k $6.6m $6.6m 0.68% Unchanged
61 LAFFER TENGLER INVESTMENTS, INC. 0.34% of their portfolio Scottsdale, AZ 1,3491.3k $2.2m $2.2m 0.34% New
62 ODDO BHF ASSET MANAGEMENT SAS 0.01% of their portfolio PARIS, I0 100100 $164.8k $164.8k 0.01% Not comparable