Vault-13

BILL HOLDINGS INC BILL 0 12.01.25

NOTE 12/0 · US DOMESTIC · CUSIP 090043AB6

58 institutional holders +2 vs Q1 2023
12,331,00012.3m shares reported held*
$1.1bnreported value*
5 new 13 added 24 reduced 4 sold out net bought ≈ $7.2m (-1.9m 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 ($19.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $88.45.

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0255075Q3 22: 62Q4 22: 64Q1 23: 56Q2 23: 5858Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202262
Q4 202264
Q1 202356
Q2 202358

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 22: 31 bought or addedQ4 22: 26 cut or sold outQ4 22Q1 23: 30 bought or addedQ1 23: 27 cut or sold outQ1 23Q2 23: 18 bought or addedQ2 23: 28 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 20223126
Q1 20233027
Q2 20231828

Biggest buyers

Linden Advisors LP Added +40,500,000+40.5m
VOYA INVESTMENT MANAGEMENT LLC Added +7,340,000+7.3m
Graham Capital Management, L.P. Added +6,000,000+6.0m
ROYAL BANK OF CANADA New +5,175,000+5.2m
CAPSTONE INVESTMENT ADVISORS, LLC Added +2,500,000+2.5m
Nicholas Investment Partners, LP New +2,425,000+2.4m
STATE STREET CORP Added +2,250,000+2.2m
Invesco Ltd. Added +2,250,000+2.2m
CITIGROUP INC Added +1,581,000+1.6m
BANK OF AMERICA CORP /DE/ Added +1,565,000+1.6m

Biggest sellers

Balyasny Asset Management L.P. Reduced -12,500,000-12.5m
STEELHEAD PARTNERS LLC Reduced -10,684,000-10.7m
Nuveen Asset Management, LLC Sold out -8,498,000-8.5m
D. E. Shaw & Co., Inc. Reduced -6,866,000-6.9m
JPMORGAN CHASE & CO Reduced -5,755,000-5.8m
LAZARD ASSET MANAGEMENT LLC Reduced -5,494,000-5.5m
WHITEBOX ADVISORS LLC Reduced -5,000,000-5.0m
ADVENT CAPITAL MANAGEMENT /DE/ Reduced -2,905,000-2.9m
DEUTSCHE BANK AG\ Reduced -2,440,000-2.4m
JANE STREET GROUP, LLC Sold out -2,000,000-2.0m

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Linden Advisors LP 2.12% of their portfolio New York, NY 193,145,000193.1m $202.2m $202.2m 2.12% Added +40.5m +40,500,000
2 LAZARD ASSET MANAGEMENT LLC 0.10% of their portfolio NEW YORK, NY 78,321,00078.3m $82.3m $82.3m 0.10% Reduced -5.5m -5,494,000
3 Calamos Advisors LLC 0.38% of their portfolio NAPERVILLE, IL 70,415,00070.4m $73.8m $73.8m 0.38% Reduced -1.6m -1,620,000
4 Graham Capital Management, L.P. 2.32% of their portfolio ROWAYTON, CT 64,573,00064.6m $67.6m $67.6m 2.32% Added +6.0m +6,000,000
5 DeepCurrents Investment Group LLC 2.62% of their portfolio NEW YORK, NY 58,329,00058.3m $61.1m $61.1m 2.62% Unchanged
6 ADVENT CAPITAL MANAGEMENT /DE/ 1.16% of their portfolio NEW YORK, NY 55,141,00055.1m $57.9m $57.9m 1.16% Reduced -2.9m -2,905,000
7 STEELHEAD PARTNERS LLC 3.32% of their portfolio SEATTLE, WA 50,000,00050.0m $52.4m $52.4m 3.32% Reduced -10.7m -10,684,000
8 FRANKLIN RESOURCES INC 0.02% of their portfolio San Mateo, CA 48,500,00048.5m $50.9m $50.9m 0.02% Unchanged
9 VOYA INVESTMENT MANAGEMENT LLC 0.05% of their portfolio ATLANTA, GA 45,340,00045.3m $47.6m $47.6m 0.05% Added +7.3m +7,340,000
10 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 27,235,00027.2m $28.5m $28.5m 0.00% Added +2.2m +2,250,000
11 BlackRock Inc. 0.00% of their portfolio New York, NY 26,495,00026.5m $27.7m $27.7m 0.00% Reduced -50.0k -50,000
12 Balyasny Asset Management L.P. 0.07% of their portfolio Chicago, IL 24,838,00024.8m $26.0m $26.0m 0.07% Reduced -12.5m -12,500,000
13 WHITEBOX ADVISORS LLC 1.21% of their portfolio MINNEAPOLIS, MN 23,874,00023.9m $25.0m $25.0m 1.21% Reduced -5.0m -5,000,000
14 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 22,000,00022.0m $23.0m $23.0m 0.01% Unchanged
15 D. E. Shaw & Co., Inc. 0.03% of their portfolio New York, NY 18,484,00018.5m $19.4m $19.4m 0.03% Reduced -6.9m -6,866,000
16 CAPSTONE INVESTMENT ADVISORS, LLC 0.57% of their portfolio NEW YORK, NY 18,394,00018.4m $19.3m $19.3m 0.57% Added +2.5m +2,500,000
17 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.03% of their portfolio FRANKFURT AM MAIN, 2M 16,750,00016.8m $17.5m $17.5m 0.03% Unchanged
18 ZAZOVE ASSOCIATES LLC 1.53% of their portfolio INCLINE VILLAGE, NV 16,040,00016.0m $16.8m $16.8m 1.53% Reduced -985.0k -985,000
19 MacKay Shields LLC 0.31% of their portfolio New York, NY 10,455,00010.5m $11.0m $11.0m 0.31% Reduced -30.0k -30,000
20 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 10,321,00010.3m $10.8m $10.8m 0.00% Added +1.4m +1,415,000
21 SSI INVESTMENT MANAGEMENT LLC 0.75% of their portfolio Los Angeles, CA 10,161,00010.2m $10.6m $10.6m 0.75% Reduced -236.0k -236,000
22 READYSTATE ASSET MANAGEMENT LP 0.89% of their portfolio CHICAGO, IL 8,500,0008.5m $8.9m $8.9m 0.89% Unchanged
23 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 7,383,0007.4m $7.7m $7.7m 0.00% Reduced -5.8m -5,755,000
24 Man Group plc 0.02% of their portfolio LONDON, X0 6,850,0006.8m $7.2m $7.2m 0.02% Reduced -1.8m -1,800,000
25 AXA S.A. 0.02% of their portfolio PARIS, I0 6,200,0006.2m $6.4m $6.4m 0.02% Reduced -1.1m -1,100,000
26 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.02% of their portfolio Paris, I0 6,000,0006.0m $6.3m $6.3m 0.02% Unchanged
27 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 5,175,0005.2m $5.4m $5.4m 0.00% New
28 OAKTREE CAPITAL MANAGEMENT LP 0.07% of their portfolio LOS ANGELES, CA 4,892,0004.9m $5.1m $5.1m 0.07% Unchanged
29 RWC Asset Management LLP 0.23% of their portfolio LONDON, X0 4,500,0004.5m $4.7m $4.7m 0.23% Added +500.0k +500,000
30 NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio ALBANY, NY 4,140,0004.1m $4.3m $4.3m 0.01% Unchanged
31 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 3,837,0003.8m $4.0m $4.0m 0.00% Added +1.6m +1,565,000
32 EDMOND DE ROTHSCHILD HOLDING S.A. 0.07% of their portfolio CHAMBESY, V8 3,520,0003.5m $3.7m $3.7m 0.07% Unchanged
33 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 3,181,0003.2m $3.3m $3.3m 0.00% Reduced -2.4m -2,440,000
34 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 3,000,0003.0m $3.1m $3.1m 0.00% Added +2.2m +2,250,000
35 PALISADE CAPITAL MANAGEMENT, LP 0.08% of their portfolio FORT LEE, NJ 2,730,0002.7m $2.9m $2.9m 0.08% Reduced -1.3m -1,344,000
36 Nicholas Investment Partners, LP 0.17% of their portfolio RANCHO SANTA FE, CA 2,425,0002.4m $2.5m $2.5m 0.17% New
37 MACQUARIE GROUP LTD 0.00% of their portfolio Sydney, NSW 2000, C3 2,100,0002.1m $2.2m $2.2m 0.00% Added +1.0m +1,000,000
38 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 1,945,0001.9m $2.0m $2.0m 0.00% Added +1.0m +1,009,000
39 Steamboat Capital Partners, LLC 0.66% of their portfolio RYE, NY 1,839,0001.8m $1.9m $1.9m 0.66% Reduced -62.0k -62,000
40 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 1,774,0001.8m $1.9m $1.9m 0.00% Added +1.6m +1,581,000
41 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 1,360,0001.4m $1.4m $1.4m 0.00% Unchanged
42 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1,260,0001.3m $1.3m $1.3m 0.00% New
43 Jefferies Financial Group Inc. 0.02% of their portfolio NEW YORK, NY 1,032,0001.0m $1.1m $1.1m 0.02% New
44 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 900,000900.0k $942.4k $942.4k 0.00% Added +100.0k +100,000
45 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 725,000725.0k $754.0k $754.0k 0.00% Reduced -500.0k -500,000
46 Calamos Wealth Management LLC 0.04% of their portfolio NAPERVILLE, IL 575,000575.0k $602.6k $602.6k 0.04% Reduced -62.0k -62,000
47 Liberty Mutual Group Asset Management Inc. 0.15% of their portfolio Boston, MA 575,000575.0k $601.2k $601.2k 0.15% Unchanged
48 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 460,000460.0k $480.9k $480.9k 0.00% Unchanged
49 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 408,000408.0k $427.2k $427.2k 0.00% Reduced -895.0k -895,000
50 FMR LLC 0.00% of their portfolio BOSTON, MA 315,000315.0k $329.3k $329.3k 0.00% Reduced -315.0k -315,000
51 KBC Group NV 0.00% of their portfolio Brussels, C9 300,000300.0k $314.0k $314.0k 0.00% Unchanged
52 COMERICA BANK 1.93% of their portfolio DALLAS, TX 256,000256.0k $107.9k $107.9k 1.93% First filing
53 FIRST HAWAIIAN BANK 0.01% of their portfolio HONOLULU, HI 201,000201.0k $210.1k $210.1k 0.01% Reduced -4.0k -4,000
54 Verition Fund Management LLC 0.99% of their portfolio GREENWICH, CT 60,64960.6k $63.7m $63.7m 0.99% Reduced -5.5k -5,500
55 Argent Trust Co 0.00% of their portfolio NASHVILLE, TN 60,00060.0k $62.7k $62.7k 0.00% New
56 SG Americas Securities, LLC 0.03% of their portfolio NEW YORK, NY 30,00030.0k $3.1m $3.1m 0.03% Reduced -80.9k -80,940
57 UBS Group AG 0.00% of their portfolio ZURICH, V8 6,0006.0k $6.3k $6.3k 0.00% Unchanged
58 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged