Vault-13

BILL HOLDINGS INC BILL 0 12.01.25

NOTE 12/0 · US DOMESTIC · CUSIP 090043AB6

57 institutional holders -3 vs Q3 2023
16,227,21616.2m shares reported held*
$1.0bnreported value*
14 new 16 added 16 reduced 17 sold out net bought ≈ $29.6m (-5.5m 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 ($23.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $63.74.

Trends to Q4 2023

Institutional holders

Managers reporting a position, each quarter

0255075Q3 22: 62Q4 22: 64Q1 23: 56Q2 23: 58Q3 23: 60Q4 23: 5757Q3 22Q4 22Q1 23Q2 23Q3 23Q4 23
Numbers
QuarterHolders
Q3 202262
Q4 202264
Q1 202356
Q2 202358
Q3 202360
Q4 202357

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 23Q3 23: 22 bought or addedQ3 23: 24 cut or sold outQ3 23Q4 23: 30 bought or addedQ4 23: 33 cut or sold outQ4 23
Numbers
QuarterBought or addedCut or sold out
Q4 20223126
Q1 20233027
Q2 20231828
Q3 20232224
Q4 20233033

Biggest buyers

Linden Advisors LP Added +29,400,000+29.4m
JPMORGAN CHASE & CO Added +20,519,000+20.5m
Nuveen Asset Management, LLC New +19,807,000+19.8m
CITADEL ADVISORS LLC New +16,000,000+16.0m
WOLVERINE ASSET MANAGEMENT LLC New +15,324,000+15.3m
D. E. Shaw & Co., Inc. New +14,750,000+14.8m
Walleye Capital LLC Added +12,850,000+12.8m
STEELHEAD PARTNERS LLC Added +12,521,000+12.5m
DeepCurrents Investment Group LLC Added +12,392,000+12.4m
CAPSTONE INVESTMENT ADVISORS, LLC Added +11,966,000+12.0m

Biggest sellers

ADVENT CAPITAL MANAGEMENT /DE/ Reduced -25,744,000-25.7m
Balyasny Asset Management L.P. Sold out -22,731,000-22.7m
BANK OF MONTREAL /CAN/ Sold out -22,000,000-22.0m
ZAZOVE ASSOCIATES LLC Sold out -15,650,000-15.7m
III Capital Management Sold out -14,347,000-14.3m
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main Reduced -10,250,000-10.2m
Segantii Capital Management Ltd Sold out -10,000,000-10.0m
SSI INVESTMENT MANAGEMENT LLC Reduced -7,765,000-7.8m
Man Group plc Sold out -7,300,000-7.3m
MIZUHO SECURITIES USA LLC Reduced -7,250,000-7.2m

Holders, Q4 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Linden Advisors LP 1.90% of their portfolio New York, NY 211,875,000211.9m $199.3m $199.3m 1.90% Added +29.4m +29,400,000
2 DeepCurrents Investment Group LLC 2.83% of their portfolio NEW YORK, NY 78,221,00078.2m $73.5m $73.5m 2.83% Added +12.4m +12,392,000
3 Calamos Advisors LLC 0.33% of their portfolio NAPERVILLE, IL 69,742,00069.7m $65.3m $65.3m 0.33% Reduced -274.0k -274,000
4 Graham Capital Management, L.P. 1.93% of their portfolio ROWAYTON, CT 64,573,00064.6m $60.7m $60.7m 1.93% Unchanged
5 STEELHEAD PARTNERS LLC 3.04% of their portfolio SEATTLE, WA 62,521,00062.5m $58.6m $58.6m 3.04% Added +12.5m +12,521,000
6 VOYA INVESTMENT MANAGEMENT LLC 0.05% of their portfolio ATLANTA, GA 54,740,00054.7m $51.6m $51.6m 0.05% Added +1.9m +1,900,000
7 FRANKLIN RESOURCES INC 0.02% of their portfolio San Mateo, CA 48,500,00048.5m $45.7m $45.7m 0.02% Unchanged
8 LAZARD ASSET MANAGEMENT LLC 0.05% of their portfolio NEW YORK, NY 44,376,00044.4m $41.8m $41.8m 0.05% Reduced -3.6m -3,595,000
9 CAPSTONE INVESTMENT ADVISORS, LLC 0.49% of their portfolio NEW YORK, NY 30,360,00030.4m $28.6m $28.6m 0.49% Added +12.0m +11,966,000
10 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 27,902,00027.9m $26.2m $26.2m 0.00% Added +20.5m +20,519,000
11 BlackRock Inc. 0.00% of their portfolio New York, NY 27,795,00027.8m $26.1m $26.1m 0.00% Unchanged
12 ADVENT CAPITAL MANAGEMENT /DE/ 0.60% of their portfolio NEW YORK, NY 27,734,00027.7m $26.2m $26.2m 0.60% Reduced -25.7m -25,744,000
13 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 25,735,00025.7m $24.1m $24.1m 0.00% Reduced -5.1m -5,100,000
14 Nuveen Asset Management, LLC 0.00% of their portfolio CHICAGO, IL 19,807,00019.8m $1.9m $1.9m 0.00% New
15 WHITEBOX ADVISORS LLC 0.80% of their portfolio MINNEAPOLIS, MN 19,124,00019.1m $18.0m $18.0m 0.80% Unchanged
16 Walleye Capital LLC 0.23% of their portfolio NEW YORK, NY 17,350,00017.4m $16.4m $16.4m 0.23% Added +12.8m +12,850,000
17 CITADEL ADVISORS LLC 0.02% of their portfolio MIAMI, FL 16,000,00016.0m $15.0m $15.0m 0.02% New
18 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 15,474,00015.5m $14.5m $14.5m 0.00% Added +5.8m +5,831,000
19 WOLVERINE ASSET MANAGEMENT LLC 0.23% of their portfolio CHICAGO, IL 15,324,00015.3m $14.4m $14.4m 0.23% New
20 D. E. Shaw & Co., Inc. 0.02% of their portfolio New York, NY 14,750,00014.8m $13.9m $13.9m 0.02% New
21 MacKay Shields LLC 0.29% of their portfolio New York, NY 10,450,00010.4m $9.9m $9.9m 0.29% Reduced -5.0k -5,000
22 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 10,100,00010.1m $9.5m $9.5m 0.00% Added +5.1m +5,100,000
23 FMR LLC 0.00% of their portfolio BOSTON, MA 10,000,00010.0m $9.4m $9.4m 0.00% New
24 TENOR CAPITAL MANAGEMENT Co., L.P. 0.15% of their portfolio NEW YORK, NY 9,076,0009.1m $8.5m $8.5m 0.15% New
25 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 8,953,0009.0m $8.4m $8.4m 0.00% Added +3.0m +3,039,000
26 AXA S.A. 0.01% of their portfolio PARIS, I0 7,600,0007.6m $7.1m $7.1m 0.01% Added +1.4m +1,400,000
27 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio FRANKFURT AM MAIN, 2M 6,500,0006.5m $6.1m $6.1m 0.01% Reduced -10.2m -10,250,000
28 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 6,474,0006.5m $6.1m $6.1m 0.01% Added +3.8m +3,807,000
29 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.02% of their portfolio Paris, I0 6,000,0006.0m $5.6m $5.6m 0.02% Unchanged
30 PALISADE CAPITAL MANAGEMENT, LP 0.13% of their portfolio FORT LEE, NJ 5,262,0005.3m $4.9m $4.9m 0.13% Added +2.8m +2,800,000
31 BARINGS LLC 0.15% of their portfolio CHARLOTTE, NC 5,000,0005.0m $4.7m $4.7m 0.15% New
32 NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio ALBANY, NY 4,124,0004.1m $3.9m $3.9m 0.01% Reduced -485.0k -485,000
33 CSS LLC/IL 0.26% of their portfolio CHICAGO, IL 3,500,0003.5m $3.3m $3.3m 0.26% New
34 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 2,614,0002.6m $2.5m $2.5m 0.00% Added +2.6m +2,557,000
35 OAKTREE CAPITAL MANAGEMENT LP 0.03% of their portfolio LOS ANGELES, CA 2,352,0002.4m $2.2m $2.2m 0.03% New
36 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 2,175,0002.2m $2.0m $2.0m 0.00% Reduced -96.0k -96,000
37 EDMOND DE ROTHSCHILD HOLDING S.A. 0.03% of their portfolio CHAMBESY, V8 2,000,0002.0m $1.9m $1.9m 0.03% Reduced -1.5m -1,520,000
38 Liberty Mutual Group Asset Management Inc. 0.52% of their portfolio Boston, MA 1,900,0001.9m $1.8m $1.8m 0.52% Unchanged
39 TORONTO DOMINION BANK 0.00% of their portfolio TORONTO, ONTARIO, A6 1,750,0001.8m $1.6m $1.6m 0.00% New
40 SSI INVESTMENT MANAGEMENT LLC 0.12% of their portfolio Los Angeles, CA 1,641,0001.6m $1.5m $1.5m 0.12% Reduced -7.8m -7,765,000
41 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1,400,0001.4m $1.3m $1.3m 0.00% Unchanged
42 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,333,0001.3m $1.3m $1.3m 0.00% Added +807.0k +807,000
43 MIZUHO SECURITIES USA LLC 0.02% of their portfolio NEW YORK, NY 1,000,0001.0m $930.7k $930.7k 0.02% Reduced -7.2m -7,250,000
44 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 900,000900.0k $844.6k $844.6k 0.00% Unchanged
45 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 468,000468.0k $438.4k $438.4k 0.00% Reduced -350.0k -350,000
46 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 467,000467.0k $439.2k $439.2k 0.00% New
47 SG Americas Securities, LLC 0.43% of their portfolio NEW YORK, NY 413,000413.0k $38.7m $38.7m 0.43% Reduced -46.8k -46,780
48 Calamos Wealth Management LLC 0.02% of their portfolio NAPERVILLE, IL 408,000408.0k $382.2k $382.2k 0.02% Reduced -127.0k -127,000
49 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 300,000300.0k $281.2k $281.2k 0.00% Reduced -425.0k -425,000
50 ABN AMRO INVESTMENT SOLUTIONS 0.00% of their portfolio PARIS CEDEX 008, I0 300,000300.0k $282.9k $282.9k 0.00% New
51 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 80,00080.0k $75.2k $75.2k 0.00% Unchanged
52 Verition Fund Management LLC 0.67% of their portfolio GREENWICH, CT 69,64869.6k $65.7m $65.7m 0.67% Added +17.9k +17,907
53 Argent Trust Co 0.00% of their portfolio NASHVILLE, TN 60,00060.0k $56.4k $56.4k 0.00% Unchanged
54 LOOMIS SAYLES & CO L P 0.00% of their portfolio BOSTON, MA 6,2166.2k $507.0k $507.0k 0.00% Reduced -16.7k -16,733
55 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 4,0004.0k $3.8k $3.8k 0.00% New
56 Candriam S.C.A. 0.00% of their portfolio STRASSEN, N4 300300 $281.5k $281.5k 0.00% New
57 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged