Vault-13

ALIGNMENT HEALTHCARE INC ALHC 4.25 11.15.29

NOTE 4.250%11/1 · US DOMESTIC · CUSIP 01625VAB0

24 institutional holders +0 vs Q1 2026
12,005,00012.0m shares reported held*
$551.7mreported value*
10 new 8 added 2 reduced 11 sold out net sold ≈ $36.4m (+2.5m 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 ≈ $45.96.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0102030Q4 25: 22Q1 26: 24Q2 26: 2424Q4 25Q1 26Q2 26
Numbers
QuarterHolders
Q4 202522
Q1 202624
Q2 202624

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q1 26: 11 bought or addedQ1 26: 9 cut or sold outQ1 26Q2 26: 18 bought or addedQ2 26: 13 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q1 2026119
Q2 20261813

Biggest buyers

TENOR CAPITAL MANAGEMENT Co., L.P. Added +35,000,000+35.0m
Balyasny Asset Management L.P. New +21,000,000+21.0m
LAZARD ASSET MANAGEMENT LLC New +19,500,000+19.5m
DeepCurrents Investment Group LLC Added +17,500,000+17.5m
Jump Financial, LLC New +9,000,000+9.0m
Opti Capital Management, LP New +7,500,000+7.5m
PICTON MAHONEY ASSET MANAGEMENT Added +7,000,000+7.0m
SSI INVESTMENT MANAGEMENT LLC New +4,250,000+4.2m
BlackRock, Inc. Added +1,525,000+1.5m
HBK INVESTMENTS L P Added +1,500,000+1.5m

Biggest sellers

Linden Advisors LP Reduced -50,000,000-50.0m
VOYA INVESTMENT MANAGEMENT LLC Sold out -28,950,000-28.9m
WOLVERINE ASSET MANAGEMENT LLC Reduced -10,000,000-10.0m
TWO SIGMA INVESTMENTS, LP Sold out -9,500,000-9.5m
READYSTATE ASSET MANAGEMENT LP Sold out -9,000,000-9.0m
Context Capital Management, LLC Sold out -8,530,000-8.5m
Balyasny Asset Management L.P. Sold out -3,000,000-3.0m
SHENKMAN CAPITAL MANAGEMENT INC Sold out -2,954,000-3.0m
CITIGROUP INC Sold out -2,828,000-2.8m
SUSQUEHANNA ADVISORS GROUP, INC. Sold out -2,000,000-2.0m

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 DEERFIELD MANAGEMENT COMPANY, L.P. 1.08% of their portfolio New York, NY 61,000,00061.0m $103.8m $103.8m 1.08% Unchanged
2 TENOR CAPITAL MANAGEMENT Co., L.P. 1.15% of their portfolio NEW YORK, NY 47,500,00047.5m $81.8m $81.8m 1.15% Added +35.0m +35,000,000
3 DeepCurrents Investment Group LLC 2.70% of their portfolio NEW YORK, NY 45,750,00045.8m $78.7m $78.7m 2.70% Added +17.5m +17,500,000
4 WOLVERINE ASSET MANAGEMENT LLC 0.81% of their portfolio CHICAGO, IL 36,000,00036.0m $61.8m $61.8m 0.81% Reduced -10.0m -10,000,000
5 HBK INVESTMENTS L P 0.51% of their portfolio DALLAS, TX 25,600,00025.6m $44.0m $44.0m 0.51% Added +1.5m +1,500,000
6 Balyasny Asset Management L.P. 0.07% of their portfolio Chicago, IL 21,000,00021.0m $35.8m $35.8m 0.07% New
7 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 19,500,00019.5m $333.1k $333.1k 0.00% New
8 Aequim Alternative Investments LP 0.40% of their portfolio MILL VALLEY, CA 15,000,00015.0m $25.6m $25.6m 0.40% Unchanged
9 PICTON MAHONEY ASSET MANAGEMENT 0.19% of their portfolio Toronto, A6 12,000,00012.0m $20.4m $20.4m 0.19% Added +7.0m +7,000,000
10 BlackRock, Inc. 0.00% of their portfolio New York, NY 9,880,0009.9m $16.8m $16.8m 0.00% Added +1.5m +1,525,000
11 Jump Financial, LLC 0.14% of their portfolio Chicago, IL 9,000,0009.0m $15.3m $15.3m 0.14% New
12 Linden Advisors LP 0.08% of their portfolio New York, NY 8,700,0008.7m $14.9m $14.9m 0.08% Reduced -50.0m -50,000,000
13 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 8,684,0008.7m $14.7m $14.7m 0.00% Added +1.4m +1,370,000
14 Opti Capital Management, LP 0.79% of their portfolio New York, NY 7,500,0007.5m $12.9m $12.9m 0.79% New
15 SSI INVESTMENT MANAGEMENT LLC 0.42% of their portfolio Los Angeles, CA 4,250,0004.2m $7.2m $7.2m 0.42% New
16 FMR LLC 0.00% of their portfolio BOSTON, MA 3,812,0003.8m $6.5m $6.5m 0.00% Added +105.0k +105,000
17 LORD, ABBETT & CO. LLC 0.00% of their portfolio JERSEY CITY, NJ 622,000622.0k $1.1m $1.1m 0.00% New
18 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 301,000301.0k $512.7k $512.7k 0.00% New
19 Virtus Fixed Income Advisers, LLC 0.25% of their portfolio HARTFORD, CT 234,000234.0k $398.6k $398.6k 0.25% New
20 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 120,000120.0k $204.4k $204.4k 0.00% Unchanged
21 Calamos Advisors LLC 0.00% of their portfolio NAPERVILLE, IL 67,00067.0k $115.0k $115.0k 0.00% New
22 VIRTUS ADVISERS, LLC 0.04% of their portfolio HARTFORD, CT 59,00059.0k $100.5k $100.5k 0.04% Added +27.0k +27,000
23 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 5,0005.0k $9.0k $9.0k 0.00% New
24 BOUSSARD & GAVAUDAN GESTION SAS 0.43% of their portfolio PARIS, I0 5,0005.0k $8.6m $8.6m 0.43% First filing