Vault-13

AMERICAN AIRLINES GROUP INC AAL 6.5 07.01.25

NOTE 6.500% 7/0 · US DOMESTIC · CUSIP 02376RAF9

74 institutional holders +0 vs Q1 2023
65,517,52665.5m shares reported held*
$5.2bnreported value*
5 new 19 added 27 reduced 5 sold out net sold ≈ $94.5m (+16.2m 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 ≈ $79.65.

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0255075Q3 22: 67Q4 22: 73Q1 23: 74Q2 23: 7474Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202267
Q4 202273
Q1 202374
Q2 202374

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 22: 36 bought or addedQ4 22: 20 cut or sold outQ4 22Q1 23: 33 bought or addedQ1 23: 34 cut or sold outQ1 23Q2 23: 24 bought or addedQ2 23: 32 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 20223620
Q1 20233334
Q2 20232432

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$250k$500k$750k$1mQ3 22 calls: $0Q3 22 puts: $899.4kQ3 22P/C —Q4 22 calls: $0Q4 22 puts: $0Q4 22P/C —Q1 23 calls: $0Q1 23 puts: $0Q1 23P/C —Q2 23 calls: $0Q2 23 puts: $0Q2 23P/C —
Numbers
QuarterCallsPutsP/C
Q3 2022$0$899.4k—
Q4 2022$0$0—
Q1 2023$0$0—
Q2 2023$0$0—

Biggest buyers

Balyasny Asset Management L.P. New +62,500,000+62.5m
CSS LLC/IL Added +33,010,000+33.0m
Portman Square Capital LLP Added +20,300,000+20.3m
Fort Baker Capital Management LP Added +18,000,000+18.0m
FMR LLC Added +9,378,000+9.4m
SSI INVESTMENT MANAGEMENT LLC Added +7,451,000+7.5m
TWO SIGMA INVESTMENTS, LP Added +7,320,000+7.3m
MOORE CAPITAL MANAGEMENT, LP Added +6,167,000+6.2m
STATE STREET CORP Added +5,400,000+5.4m
JPMORGAN CHASE & CO New +5,214,000+5.2m

Biggest sellers

LAZARD ASSET MANAGEMENT LLC Reduced -60,000,000-60.0m
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -37,250,000-37.2m
Nuveen Asset Management, LLC Sold out -35,000,000-35.0m
BNP PARIBAS FINANCIAL MARKETS Reduced -33,983,000-34.0m
VOYA INVESTMENT MANAGEMENT LLC Reduced -14,540,000-14.5m
III Capital Management Reduced -14,182,000-14.2m
BANK OF AMERICA CORP /DE/ Reduced -12,108,000-12.1m
Jefferies Financial Group Inc. Reduced -8,621,000-8.6m
Sculptor Capital LP Reduced -7,400,000-7.4m
JANE STREET GROUP, LLC Reduced -6,750,000-6.8m

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 WHITEBOX ADVISORS LLC 6.57% of their portfolio MINNEAPOLIS, MN 106,230,000106.2m $136.1m $136.1m 6.57% Reduced -6.5m -6,500,000
2 CAMDEN ASSET MANAGEMENT L P /CA 3.27% of their portfolio Los Angeles, CA 73,584,00073.6m $94.3m $94.3m 3.27% Added +5.0m +5,000,000
3 Balyasny Asset Management L.P. 0.22% of their portfolio Chicago, IL 62,500,00062.5m $80.2m $80.2m 0.22% New
4 CSS LLC/IL 5.12% of their portfolio CHICAGO, IL 51,790,00051.8m $66.5m $66.5m 5.12% Added +33.0m +33,010,000
5 TWO SIGMA INVESTMENTS, LP 0.17% of their portfolio NEW YORK, NY 50,000,00050.0m $64.0m $64.0m 0.17% Added +7.3m +7,320,000
6 Portman Square Capital LLP 10.58% of their portfolio London, X0 46,800,00046.8m $60.2m $60.2m 10.58% Added +20.3m +20,300,000
7 FMR LLC 0.00% of their portfolio BOSTON, MA 36,372,00036.4m $46.6m $46.6m 0.00% Added +9.4m +9,378,000
8 MANUFACTURERS LIFE INSURANCE COMPANY, THE 2.27% of their portfolio Toronto, A6 31,720,00031.7m $4.1bn $4.1bn 2.27% Reduced -680.0k -680,000
9 Fort Baker Capital Management LP 4.98% of their portfolio Larkspur, CA 26,700,00026.7m $35.2m $35.2m 4.98% Added +18.0m +18,000,000
10 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 25,547,00025.5m $33.6m $33.6m 0.00% Added +5.4m +5,400,000
11 Sculptor Capital LP 0.66% of their portfolio New York, NY 19,600,00019.6m $25.2m $25.2m 0.66% Reduced -7.4m -7,400,000
12 III Capital Management 1.91% of their portfolio BOCA RATON, FL 19,000,00019.0m $24.4m $24.4m 1.91% Reduced -14.2m -14,182,000
13 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 17,925,00017.9m $23.0m $23.0m 0.01% Reduced -2.0m -2,000,000
14 AQR Arbitrage LLC 0.98% of their portfolio Greenwich, CT 17,679,00017.7m $22.7m $22.7m 0.98% Unchanged
15 Calamos Advisors LLC 0.11% of their portfolio NAPERVILLE, IL 17,500,00017.5m $22.5m $22.5m 0.11% Unchanged
16 Segantii Capital Management Ltd 1.35% of their portfolio HONG KONG, K3 17,500,00017.5m $23.0m $23.0m 1.35% Unchanged
17 VOYA INVESTMENT MANAGEMENT LLC 0.02% of their portfolio ATLANTA, GA 16,950,00016.9m $21.8m $21.8m 0.02% Reduced -14.5m -14,540,000
18 D. E. Shaw & Co., Inc. 0.03% of their portfolio New York, NY 16,320,00016.3m $20.9m $20.9m 0.03% Reduced -6.0m -6,000,000
19 BNP PARIBAS FINANCIAL MARKETS 0.04% of their portfolio PARIS, I0 15,844,00015.8m $20.3m $20.3m 0.04% Reduced -34.0m -33,983,000
20 Magnetar Financial LLC 0.44% of their portfolio EVANSTON, IL 15,500,00015.5m $19.9m $19.9m 0.44% Added +1.0m +1,000,000
21 MacKay Shields LLC 0.51% of their portfolio New York, NY 14,271,00014.3m $18.4m $18.4m 0.51% Unchanged
22 ADVENT CAPITAL MANAGEMENT /DE/ 0.35% of their portfolio NEW YORK, NY 13,767,00013.8m $17.7m $17.7m 0.35% Reduced -5.5m -5,522,000
23 MOORE CAPITAL MANAGEMENT, LP 0.43% of their portfolio NEW YORK, NY 13,667,00013.7m $17.5m $17.5m 0.43% Added +6.2m +6,167,000
24 SSI INVESTMENT MANAGEMENT LLC 0.93% of their portfolio Los Angeles, CA 10,303,00010.3m $13.2m $13.2m 0.93% Added +7.5m +7,451,000
25 Jefferies Financial Group Inc. 0.28% of their portfolio NEW YORK, NY 10,086,00010.1m $12.9m $12.9m 0.28% Reduced -8.6m -8,621,000
26 LAZARD ASSET MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 10,000,00010.0m $12.9m $12.9m 0.02% Reduced -60.0m -60,000,000
27 Walleye Capital LLC 0.23% of their portfolio NEW YORK, NY 10,000,00010.0m $12.9m $12.9m 0.23% Unchanged
28 Skaana Management L.P. 3.76% of their portfolio BROOKLYN, NY 10,000,00010.0m $12.8m $12.8m 3.76% Added +2.5m +2,500,000
29 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 9,800,0009.8m $12.4m $12.4m 0.00% Reduced -3.0m -3,000,000
30 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.02% of their portfolio BALA CYNWYD, PA 9,450,0009.4m $12.1m $12.1m 0.02% Reduced -37.2m -37,250,000
31 SCHRODER INVESTMENT MANAGEMENT GROUP 0.02% of their portfolio London, X0 9,150,0009.2m $11.7m $11.7m 0.02% Unchanged
32 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 9,047,0009.0m $11.6m $11.6m 0.00% Reduced -3.3m -3,290,000
33 ABSOLUTE INVESTMENT ADVISERS, LLC 1.49% of their portfolio ROSEMARY BEACH, FL 8,245,0008.2m $10.6m $10.6m 1.49% Unchanged
34 ANGELO GORDON & CO., L.P. 2.71% of their portfolio NEW YORK, NY 7,000,0007.0m $9.0m $9.0m 2.71% Added +2.0m +2,000,000
35 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.02% of their portfolio Paris, I0 6,000,0006.0m $7.7m $7.7m 0.02% Unchanged
36 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 5,821,0005.8m $7.5m $7.5m 0.00% Reduced -1.3m -1,253,000
37 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 5,712,0005.7m $7.3m $7.3m 0.00% Added +415.0k +415,000
38 BlackRock Inc. 0.00% of their portfolio New York, NY 5,645,0005.6m $7.2m $7.2m 0.00% Reduced -250.0k -250,000
39 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 5,374,0005.4m $6.9m $6.9m 0.01% Added +3.2m +3,155,000
40 Man Group plc 0.02% of their portfolio LONDON, X0 5,350,0005.3m $6.9m $6.9m 0.02% Reduced -400.0k -400,000
41 RWC Asset Management LLP 0.33% of their portfolio LONDON, X0 5,300,0005.3m $6.8m $6.8m 0.33% Reduced -100.0k -100,000
42 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 5,214,0005.2m $6.7m $6.7m 0.00% New
43 NOMURA HOLDINGS INC 0.01% of their portfolio TOKYO, M0 4,845,6794.8m $877.1k $877.1k 0.01% Reduced -741.0k -741,050
44 Flow State Investments, L.P. 2.17% of their portfolio CHICAGO, IL 4,000,0004.0m $5.1m $5.1m 2.17% New
45 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 3,834,0003.8m $4.9m $4.9m 0.00% Reduced -2.7m -2,684,000
46 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 3,622,0003.6m $4.6m $4.6m 0.00% Added +2.8m +2,795,000
47 OAKTREE CAPITAL MANAGEMENT LP 0.04% of their portfolio LOS ANGELES, CA 2,400,0002.4m $3.1m $3.1m 0.04% Added +1.0m +1,000,000
48 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 2,250,0002.2m $2.9m $2.9m 0.00% Reduced -6.8m -6,750,000
49 EDMOND DE ROTHSCHILD HOLDING S.A. 0.05% of their portfolio CHAMBESY, V8 2,044,0002.0m $2.6m $2.6m 0.05% Unchanged
50 BOOTHBAY FUND MANAGEMENT, LLC 0.08% of their portfolio NEW YORK, NY 2,030,0002.0m $2.6m $2.6m 0.08% Added +868.0k +868,000
51 FEDERATED HERMES, INC. 0.01% of their portfolio PITTSBURGH, PA 2,000,0002.0m $2.6m $2.6m 0.01% Unchanged
52 WESTWOOD HOLDINGS GROUP INC 0.02% of their portfolio DALLAS, TX 1,500,0001.5m $2.0m $2.0m 0.02% Unchanged
53 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,427,0001.4m $1.8m $1.8m 0.00% Reduced -12.1m -12,108,000
54 PALISADE CAPITAL MANAGEMENT, LP 0.05% of their portfolio FORT LEE, NJ 1,422,0001.4m $1.8m $1.8m 0.05% Reduced -56.0k -56,000
55 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 1,125,0001.1m $1.4m $1.4m 0.00% Unchanged
56 MIZUHO SECURITIES USA LLC 0.04% of their portfolio NEW YORK, NY 875,000875.0k $1.1m $1.1m 0.04% Reduced -1.1m -1,125,000
57 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 800,000800.0k $1.0m $1.0m 0.00% Added +260.0k +260,000
58 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 420,000420.0k $538.9k $538.9k 0.00% Unchanged
59 KBC Group NV 0.00% of their portfolio Brussels, C9 300,000300.0k $385.0k $385.0k 0.00% Unchanged
60 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 250,000250.0k $320.8k $320.8k 0.00% Unchanged
61 Kohlberg Kravis Roberts & Co. L.P. 0.01% of their portfolio NEW YORK, NY 236,000236.0k $303.5k $303.5k 0.01% New
62 BEESE FULMER INVESTMENT MANAGEMENT, INC. 0.03% of their portfolio CANTON, OH 200,000200.0k $256.3k $256.3k 0.03% Unchanged
63 Amundi 0.00% of their portfolio Paris, I0 159,000159.0k $205.0k $205.0k 0.00% Unchanged
64 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 150,000150.0k $192.2k $192.2k 0.00% Unchanged
65 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 150,000150.0k $150.0k $150.0k 0.00% Unchanged
66 FIRST HAWAIIAN BANK 0.01% of their portfolio HONOLULU, HI 130,000130.0k $166.5k $166.5k 0.01% Added +74.0k +74,000
67 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 120,000120.0k $154.3k $154.3k 0.00% Unchanged
68 Pinnacle Holdings, LLC 0.03% of their portfolio TULSA, OK 50,00050.0k $64.1k $64.1k 0.03% Unchanged
69 Full Sail Capital, LLC 0.01% of their portfolio OKLAHOMA CITY, OK 50,00050.0k $64.0k $64.0k 0.01% Unchanged
70 SG Americas Securities, LLC 0.01% of their portfolio NEW YORK, NY 11,53011.5k $1.5m $1.5m 0.01% Reduced -1.4k -1,420
71 Boussard & Gavaudan Investment Management LLP 0.95% of their portfolio London, X0 7,7997.8k $9.9m $9.9m 0.95% Reduced -7.4k -7,448
72 Alpine Global Management, LLC 0.37% of their portfolio NEW YORK, NY 2,0002.0k $2.6m $2.6m 0.37% New
73 NATIXIS 0.01% of their portfolio PARIS, I0 727727 $925.0k $925.0k 0.01% Reduced -302 -302
74 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged