Vault-13

BILL HOLDINGS INC BILL 0 12.01.25

NOTE 12/0 · US DOMESTIC · CUSIP 090043AB6

17 institutional holders -1 vs Q1 2025
$32.8mprincipal reported held*
$33.3mreported value*
1 new 2 added 1 reduced 2 sold out net sold ≈ $492.1k (-4.0m 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.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0255075Q3 22: 62Q4 22: 64Q1 23: 56Q2 23: 58Q3 23: 60Q4 23: 57Q1 24: 42Q2 24: 32Q3 24: 26Q4 24: 20Q1 25: 18Q2 25: 1717Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202262
Q4 202264
Q1 202356
Q2 202358
Q3 202360
Q4 202357
Q1 202442
Q2 202432
Q3 202426
Q4 202420
Q1 202518
Q2 202517

Buyers vs sellers

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

Bought or addedCut or sold out
50050Q3 23: 22 bought or addedQ3 23: 24 cut or sold outQ4 23: 30 bought or addedQ4 23: 33 cut or sold outQ4 23Q1 24: 13 bought or addedQ1 24: 41 cut or sold outQ2 24: 4 bought or addedQ2 24: 30 cut or sold outQ2 24Q3 24: 6 bought or addedQ3 24: 17 cut or sold outQ4 24: 6 bought or addedQ4 24: 17 cut or sold outQ4 24Q1 25: 2 bought or addedQ1 25: 5 cut or sold outQ2 25: 3 bought or addedQ2 25: 3 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20232224
Q4 20233033
Q1 20241341
Q2 2024430
Q3 2024617
Q4 2024617
Q1 202525
Q2 202533

Biggest buyers

TENOR CAPITAL MANAGEMENT Co., L.P. Added +4,000,000+4.0m
Verition Fund Management LLC Added +718,281+718.3k
RAYMOND JAMES FINANCIAL INC New +2,000+2.0k

Biggest sellers

BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sold out -4,000,000-4.0m
MILLENNIUM MANAGEMENT LLC Reduced -499,000-499.0k
Fox Hill Wealth Management Sold out -10,000-10.0k

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 TENOR CAPITAL MANAGEMENT Co., L.P. 0.11% of their portfolio NEW YORK, NY 8,709,0008.7m $8.5m $8.5m 0.11% Added +4.0m +4,000,000
2 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 4,676,0004.7m $4.5m $4.5m 0.00% Unchanged
3 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 4,500,0004.5m $4.3m $4.3m 0.00% Unchanged
4 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 4,323,0004.3m $4.2m $4.2m 0.00% Unchanged
5 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 2,714,0002.7m $2.6m $2.6m 0.00% Reduced -499.0k -499,000
6 Mint Tower Capital Management B.V. 0.29% of their portfolio AMSTERDAM, P7 1,993,0002.0m $1.9m $1.9m 0.29% Unchanged
7 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 1,590,0001.6m $1.5m $1.5m 0.00% Unchanged
8 ADVENT CAPITAL MANAGEMENT /DE/ 0.03% of their portfolio NEW YORK, NY 1,550,0001.6m $1.5m $1.5m 0.03% Unchanged
9 PALISADE CAPITAL MANAGEMENT, LP 0.02% of their portfolio FORT LEE, NJ 748,000748.0k $724.8k $724.8k 0.02% Unchanged
10 Verition Fund Management LLC 0.00% of their portfolio GREENWICH, CT 719,000719.0k $699.2k $699.2k 0.00% Added +718.3k +718,281
11 CSS LLC/IL 0.04% of their portfolio CHICAGO, IL 647,000647.0k $630.9k $630.9k 0.04% Unchanged
12 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 500,000500.0k $485.0k $485.0k 0.00% Unchanged
13 MacKay Shields LLC 0.00% of their portfolio New York, NY 75,00075.0k $72.9k $72.9k 0.00% Unchanged
14 Argent Trust Co 0.00% of their portfolio NASHVILLE, TN 60,00060.0k $58.2k $58.2k 0.00% Unchanged
15 SG Americas Securities, LLC 0.01% of their portfolio NEW YORK, NY 15,74015.7k $1.5m $1.5m 0.01% Unchanged
16 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 2,0002.0k $1.9k $1.9k 0.00% New
17 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged