Vault-13

ALNYLAM PHARMACEUTICALS INC ALNY 1 09.15.27

NOTE 1.000% 9/1 · US DOMESTIC · CUSIP 02043QAB3

48 institutional holders -23 vs Q2 2025
4,226,0734.2m shares reported held*
$654.2mreported value*
10 new 10 added 18 reduced 32 sold out net sold ≈ $892.4m (-4.8m 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 ≈ $154.81.

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0255075Q3 23: 57Q4 23: 70Q1 24: 72Q2 24: 68Q3 24: 60Q4 24: 68Q1 25: 73Q2 25: 71Q3 25: 4848Q3 23Q1 24Q3 24Q1 25Q3 25
Numbers
QuarterHolders
Q3 202357
Q4 202370
Q1 202472
Q2 202468
Q3 202460
Q4 202468
Q1 202573
Q2 202571
Q3 202548

Buyers vs sellers

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

Bought or addedCut or sold out
50050Q4 23: 37 bought or addedQ4 23: 23 cut or sold outQ1 24: 32 bought or addedQ1 24: 35 cut or sold outQ1 24Q2 24: 29 bought or addedQ2 24: 37 cut or sold outQ3 24: 25 bought or addedQ3 24: 39 cut or sold outQ3 24Q4 24: 24 bought or addedQ4 24: 31 cut or sold outQ1 25: 32 bought or addedQ1 25: 30 cut or sold outQ1 25Q2 25: 25 bought or addedQ2 25: 38 cut or sold outQ3 25: 20 bought or addedQ3 25: 50 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 20233723
Q1 20243235
Q2 20242937
Q3 20242539
Q4 20242431
Q1 20253230
Q2 20252538
Q3 20252050

Biggest buyers

LMR Partners LLP New +15,000,000+15.0m
Parallax Volatility Advisers, L.P. New +11,184,000+11.2m
MANUFACTURERS LIFE INSURANCE COMPANY, THE Added +10,300,000+10.3m
LORD, ABBETT & CO. LLC New +9,812,000+9.8m
BNP PARIBAS FINANCIAL MARKETS Added +8,580,000+8.6m
Warberg Asset Management LLC New +3,000,000+3.0m
STATE STREET CORP Added +1,250,000+1.2m
JPMORGAN CHASE & CO Added +1,107,000+1.1m
STATE OF WISCONSIN INVESTMENT BOARD Added +1,000,000+1.0m
JANE STREET GROUP, LLC New +550,000+550.0k

Biggest sellers

DEERFIELD MANAGEMENT COMPANY, L.P. Sold out -110,000,000-110.0m
STEELHEAD PARTNERS LLC Sold out -65,000,000-65.0m
TENOR CAPITAL MANAGEMENT Co., L.P. Sold out -54,335,000-54.3m
LAZARD ASSET MANAGEMENT LLC Reduced -53,638,000-53.6m
Invesco Ltd. Sold out -45,645,000-45.6m
Calamos Advisors LLC Reduced -40,954,000-41.0m
Aequim Alternative Investments LP Sold out -37,500,000-37.5m
Opti Capital Management, LP Sold out -27,000,000-27.0m
MILLENNIUM MANAGEMENT LLC Sold out -20,000,000-20.0m
DeepCurrents Investment Group LLC Sold out -18,257,000-18.3m

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VOYA INVESTMENT MANAGEMENT LLC 0.28% of their portfolio ATLANTA, GA 169,990,000170.0m $279.8m $279.8m 0.28% Reduced -6.7m -6,695,000
2 BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio PARIS, I0 25,078,00025.1m $41.2m $41.2m 0.03% Added +8.6m +8,580,000
3 Alberta Investment Management Corp 0.30% of their portfolio EDMONTON, A0 25,000,00025.0m $41.3m $41.3m 0.30% Unchanged
4 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 21,170,00021.2m $34.9m $34.9m 0.00% Added +1.2m +1,250,000
5 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.03% of their portfolio Toronto, A6 18,800,00018.8m $31.0m $31.0m 0.03% Added +10.3m +10,300,000
6 FMR LLC 0.00% of their portfolio BOSTON, MA 16,694,00016.7m $27.4m $27.4m 0.00% Reduced -1.4m -1,354,000
7 MacKay Shields LLC 0.85% of their portfolio New York, NY 15,188,00015.2m $25.0m $25.0m 0.85% Reduced -80.0k -80,000
8 LMR Partners LLP 0.32% of their portfolio LONDON, X0 15,000,00015.0m $24.7m $24.7m 0.32% New
9 Parallax Volatility Advisers, L.P. 0.54% of their portfolio San Francisco, CA 11,184,00011.2m $18.4m $18.4m 0.54% New
10 BlackRock, Inc. 0.00% of their portfolio New York, NY 10,000,00010.0m $16.4m $16.4m 0.00% Added +50.0k +50,000
11 LORD, ABBETT & CO. LLC 0.05% of their portfolio JERSEY CITY, NJ 9,812,0009.8m $16.1m $16.1m 0.05% New
12 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 6,610,0006.6m $10.7m $10.7m 0.00% Added +1.1m +1,107,000
13 Universal- Beteiligungs- und Servicegesellschaft mbH 0.01% of their portfolio FRANKFURT AM MAIN, 2M 4,535,0004.5m $7.5m $7.5m 0.01% Reduced -10.2m -10,156,000
14 SSI INVESTMENT MANAGEMENT LLC 0.46% of their portfolio Los Angeles, CA 4,098,0004.1m $6.7m $6.7m 0.46% Reduced -2.7m -2,739,000
15 Nicholas Investment Partners, LP 0.40% of their portfolio RANCHO SANTA FE, CA 3,165,0003.2m $5.2m $5.2m 0.40% Reduced -85.0k -85,000
16 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 3,000,0003.0m $4.9m $4.9m 0.01% Added +1.0m +1,000,000
17 Warberg Asset Management LLC 1.39% of their portfolio WINNETKA, IL 3,000,0003.0m $4.9m $4.9m 1.39% New
18 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 2,899,0002.9m $4.8m $4.8m 0.00% Reduced -4.0m -3,950,000
19 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 2,504,0002.5m $4.1m $4.1m 0.00% Reduced -15.7m -15,704,000
20 WESTWOOD HOLDINGS GROUP INC 0.02% of their portfolio DALLAS, TX 2,100,0002.1m $3.5m $3.5m 0.02% Reduced -400.0k -400,000
21 MACQUARIE GROUP LTD 0.00% of their portfolio Sydney, NSW 2000, C3 2,090,0002.1m $3.4m $3.4m 0.00% Reduced -60.0k -60,000
22 Union Bancaire Privee, UBP SA 0.04% of their portfolio GENEVA 1, V8 2,030,0002.0m $2.8m $2.8m 0.04% Reduced -100.0k -100,000
23 GABELLI FUNDS LLC 0.02% of their portfolio Rye, NY 2,000,0002.0m $3.3m $3.3m 0.02% Reduced -500.0k -500,000
24 AXA Investment Managers S.A. 0.02% of their portfolio PUTEAUX, I0 1,350,0001.4m $6.2m $6.2m 0.02% First filing
25 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 980,000980.0k $16.1k $16.1k 0.00% Reduced -53.6m -53,638,000
26 AGF MANAGEMENT LTD 0.01% of their portfolio TORONTO, A6 950,000950.0k $1.6m $1.6m 0.01% Unchanged
27 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 943,000943.0k $1.5m $1.5m 0.00% Added +233.0k +233,000
28 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 850,000850.0k $1.4m $1.4m 0.00% Reduced -850.0k -850,000
29 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 550,000550.0k $912.2k $912.2k 0.00% New
30 Calamos Advisors LLC 0.00% of their portfolio NAPERVILLE, IL 365,000365.0k $602.3k $602.3k 0.00% Reduced -41.0m -40,954,000
31 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 251,000251.0k $412.5k $412.5k 0.00% Unchanged
32 Central Pacific Bank - Trust Division 0.04% of their portfolio HONOLULU, HI 224,000224.0k $368.1k $368.1k 0.04% Reduced -144.0k -144,000
33 AQR Arbitrage LLC 0.01% of their portfolio Greenwich, CT 130,000130.0k $214.0k $214.0k 0.01% New
34 OPPENHEIMER ASSET MANAGEMENT INC. 0.00% of their portfolio NEW YORK, NY 83,00083.0k $136.4k $136.4k 0.00% Added +4.0k +4,000
35 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 80,00080.0k $131.5k $131.5k 0.00% New
36 Calamos Wealth Management LLC 0.00% of their portfolio NAPERVILLE, IL 66,00066.0k $108.9k $108.9k 0.00% Added +1.0k +1,000
37 VIRTUS ADVISERS, LLC 0.04% of their portfolio HARTFORD, CT 47,00047.0k $77.2k $77.2k 0.04% Unchanged
38 STEPHENS INC /AR/ 0.00% of their portfolio LITTLE ROCK, AR 24,00024.0k $39.4k $39.4k 0.00% Unchanged
39 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 20,00020.0k $33.0k $33.0k 0.00% Reduced -470.0k -470,000
40 Balboa Wealth Partners 0.00% of their portfolio SCOTTSDALE, AZ 15,00015.0k $24.7k $24.7k 0.00% Unchanged
41 Boussard & Gavaudan Investment Management LLP 2.66% of their portfolio London, X0 13,07313.1k $21.5m $21.5m 2.66% New
42 Stonegate Investment Group, LLC 0.00% of their portfolio BIRMINGHAM, AL 13,00013.0k $21.4k $21.4k 0.00% New
43 FIFTH THIRD BANCORP 0.00% of their portfolio CINCINNATI, OH 5,0005.0k $821.8k $821.8k 0.00% New
44 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 2,0002.0k $3.3k $3.3k 0.00% Unchanged
45 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 2,0002.0k $3.3k $3.3k 0.00% Unchanged
46 Alken Asset Management Ltd 0.03% of their portfolio LONDON, X0 1,0001.0k $1.6k $1.6k 0.03% Unchanged
47 UBS Group AG 0.00% of their portfolio ZURICH, V8 670670 $1.1k $1.1k 0.00% Added +340 +340
48 Erste Asset Management GmbH 0.00% of their portfolio VIENNA, C4 00 $0 $0 0.00% Reduced -1.4m -1,400,000