Vault-13

BILL HOLDINGS INC BILL 0 04.01.27

NOTE 4/0 · US DOMESTIC · CUSIP 090043AD2

26 institutional holders +1 vs Q1 2025
160,000160.0k shares reported held*
$105.6mreported value*
4 new 5 added 3 reduced 3 sold out net sold ≈ $3.5m (+160.0k 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 ($852.2k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $665.40.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 1Q4 22: 36Q1 23: 35Q2 23: 33Q3 23: 34Q4 23: 36Q1 24: 36Q2 24: 42Q3 24: 38Q4 24: 24Q1 25: 25Q2 25: 2626Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 20221
Q4 202236
Q1 202335
Q2 202333
Q3 202334
Q4 202336
Q1 202436
Q2 202442
Q3 202438
Q4 202424
Q1 202525
Q2 202526

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 23: 13 bought or addedQ3 23: 9 cut or sold outQ4 23: 13 bought or addedQ4 23: 16 cut or sold outQ4 23Q1 24: 17 bought or addedQ1 24: 16 cut or sold outQ2 24: 24 bought or addedQ2 24: 13 cut or sold outQ2 24Q3 24: 15 bought or addedQ3 24: 21 cut or sold outQ4 24: 6 bought or addedQ4 24: 24 cut or sold outQ4 24Q1 25: 10 bought or addedQ1 25: 10 cut or sold outQ2 25: 9 bought or addedQ2 25: 6 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023139
Q4 20231316
Q1 20241716
Q2 20242413
Q3 20241521
Q4 2024624
Q1 20251010
Q2 202596

Biggest buyers

Verition Fund Management LLC Added +19,984,484+20.0m
TENOR CAPITAL MANAGEMENT Co., L.P. Added +14,404,000+14.4m
D. E. Shaw & Co., Inc. Added +9,475,000+9.5m
Radcliffe Capital Management, L.P. Added +5,000,000+5.0m
OAKTREE CAPITAL MANAGEMENT LP New +2,722,000+2.7m
Russell Investments Group, Ltd. New +2,132,000+2.1m
CITIGROUP INC Added +709,000+709.0k
COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS New +160,000+160.0k
BARCLAYS PLC New +44,000+44.0k

Biggest sellers

LORD, ABBETT & CO. LLC Sold out -24,469,000-24.5m
Man Group plc Sold out -8,938,000-8.9m
BNP PARIBAS FINANCIAL MARKETS Reduced -5,447,000-5.4m
Fore Capital, LLC Reduced -3,748,000-3.7m
JPMORGAN CHASE & CO Reduced -402,000-402.0k
Austin Asset Management Co Inc Sold out -11,000-11.0k

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Verition Fund Management LLC 0.11% of their portfolio GREENWICH, CT 20,000,00020.0m $18.3m $18.3m 0.11% Added +20.0m +19,984,484
2 D. E. Shaw & Co., Inc. 0.02% of their portfolio New York, NY 18,663,00018.7m $17.0m $17.0m 0.02% Added +9.5m +9,475,000
3 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 17,853,60017.9m $16.2m $16.2m 0.00% Unchanged
4 TENOR CAPITAL MANAGEMENT Co., L.P. 0.22% of their portfolio NEW YORK, NY 17,795,00017.8m $16.2m $16.2m 0.22% Added +14.4m +14,404,000
5 READYSTATE ASSET MANAGEMENT LP 0.38% of their portfolio CHICAGO, IL 10,000,00010.0m $9.1m $9.1m 0.38% Unchanged
6 Radcliffe Capital Management, L.P. 0.51% of their portfolio BALA CYNWYD, PA 7,302,0007.3m $6.6m $6.6m 0.51% Added +5.0m +5,000,000
7 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 5,677,0005.7m $5.2m $5.2m 0.00% Reduced -402.0k -402,000
8 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 4,655,0004.7m $4.2m $4.2m 0.00% Unchanged
9 OAKTREE CAPITAL MANAGEMENT LP 0.05% of their portfolio LOS ANGELES, CA 2,722,0002.7m $2.5m $2.5m 0.05% New
10 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 2,132,0002.1m $1.9m $1.9m 0.00% New
11 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 2,058,0002.1m $1.9m $1.9m 0.00% Reduced -5.4m -5,447,000
12 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 1,895,0001.9m $1.7m $1.7m 0.00% Unchanged
13 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 1,250,0001.2m $1.1m $1.1m 0.00% Unchanged
14 PALISADE CAPITAL MANAGEMENT, LP 0.03% of their portfolio FORT LEE, NJ 1,000,0001.0m $911.2k $911.2k 0.03% Unchanged
15 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 973,000973.0k $885.4k $885.4k 0.00% Added +709.0k +709,000
16 Fore Capital, LLC 1.37% of their portfolio New York, NY 752,000752.0k $687.1k $687.1k 1.37% Reduced -3.7m -3,748,000
17 Pinnacle Holdings, LLC 0.16% of their portfolio TULSA, OK 500,000500.0k $455.0k $455.0k 0.16% Unchanged
18 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 400,000400.0k $364.9k $364.9k 0.00% Unchanged
19 Amundi 0.00% of their portfolio Paris, I0 351,000351.0k $322.4k $322.4k 0.00% Unchanged
20 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.00% of their portfolio HARRISBURG, PA 160,000160.0k $145.6k $145.6k 0.00% New
21 Stonegate Investment Group, LLC 0.00% of their portfolio BIRMINGHAM, AL 64,00064.0k $58.2k $58.2k 0.00% Unchanged
22 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 44,00044.0k $40.1k $40.1k 0.00% New
23 Moors & Cabot, Inc. 0.00% of their portfolio BOSTON, MA 39,00039.0k $35.5k $35.5k 0.00% Unchanged
24 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 15,00015.0k $13.7k $13.7k 0.00% Unchanged
25 Alken Asset Management Ltd 0.63% of their portfolio LONDON, X0 400400 $361.0k $361.0k 0.63% Unchanged
26 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged