Vault-13

BILL HOLDINGS INC BILL 0 04.01.27

NOTE 4/0 · US DOMESTIC · CUSIP 090043AD2

23 institutional holders -3 vs Q2 2025
165,000165.0k shares reported held*
$109.9mreported value*
2 new 7 added 2 reduced 4 sold out net bought ≈ $2.6m (+5.0k 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 ($1.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $673.21.

Trends to Q3 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: 26Q3 25: 2323Q3 22Q2 23Q1 24Q4 24Q3 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
Q3 202523

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 23: 13 bought or addedQ4 23: 16 cut or sold outQ1 24: 17 bought or addedQ1 24: 16 cut or sold outQ1 24Q2 24: 24 bought or addedQ2 24: 13 cut or sold outQ3 24: 15 bought or addedQ3 24: 21 cut or sold outQ3 24Q4 24: 6 bought or addedQ4 24: 24 cut or sold outQ1 25: 10 bought or addedQ1 25: 10 cut or sold outQ1 25Q2 25: 9 bought or addedQ2 25: 6 cut or sold outQ3 25: 9 bought or addedQ3 25: 6 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 20231316
Q1 20241716
Q2 20242413
Q3 20241521
Q4 2024624
Q1 20251010
Q2 202596
Q3 202596

Biggest buyers

D. E. Shaw & Co., Inc. Added +9,239,000+9.2m
MILLENNIUM MANAGEMENT LLC Added +9,000,000+9.0m
PALISADE CAPITAL MANAGEMENT, LP Added +2,000,000+2.0m
TORONTO DOMINION BANK New +1,658,000+1.7m
JPMORGAN CHASE & CO Added +787,000+787.0k
OAKTREE CAPITAL MANAGEMENT LP Added +635,000+635.0k
Russell Investments Group, Ltd. Added +595,000+595.0k
Fore Capital, LLC Added +16,000+16.0k
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO New +5,000+5.0k

Biggest sellers

BANK OF AMERICA CORP /DE/ Reduced -17,846,000-17.8m
BNP PARIBAS FINANCIAL MARKETS Sold out -2,058,000-2.1m
CITIGROUP INC Sold out -973,000-973.0k
Amundi Reduced -176,000-176.0k
Stonegate Investment Group, LLC Sold out -64,000-64.0k
RAYMOND JAMES FINANCIAL INC Sold out -15,000-15.0k

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 D. E. Shaw & Co., Inc. 0.02% of their portfolio New York, NY 27,902,00027.9m $26.0m $26.0m 0.02% Added +9.2m +9,239,000
2 Verition Fund Management LLC 0.11% of their portfolio GREENWICH, CT 20,000,00020.0m $18.7m $18.7m 0.11% Unchanged
3 TENOR CAPITAL MANAGEMENT Co., L.P. 0.22% of their portfolio NEW YORK, NY 17,795,00017.8m $16.6m $16.6m 0.22% Unchanged
4 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 10,895,00010.9m $10.2m $10.2m 0.01% Added +9.0m +9,000,000
5 READYSTATE ASSET MANAGEMENT LP 0.45% of their portfolio CHICAGO, IL 10,000,00010.0m $9.3m $9.3m 0.45% Unchanged
6 Radcliffe Capital Management, L.P. 0.42% of their portfolio BALA CYNWYD, PA 7,302,0007.3m $6.8m $6.8m 0.42% Unchanged
7 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 6,464,0006.5m $6.0m $6.0m 0.00% Added +787.0k +787,000
8 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 4,655,0004.7m $4.3m $4.3m 0.00% Unchanged
9 OAKTREE CAPITAL MANAGEMENT LP 0.05% of their portfolio LOS ANGELES, CA 3,357,0003.4m $3.1m $3.1m 0.05% Added +635.0k +635,000
10 PALISADE CAPITAL MANAGEMENT, LP 0.08% of their portfolio FORT LEE, NJ 3,000,0003.0m $2.8m $2.8m 0.08% Added +2.0m +2,000,000
11 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 2,727,0002.7m $2.5m $2.5m 0.00% Added +595.0k +595,000
12 TORONTO DOMINION BANK 0.00% of their portfolio TORONTO, ONTARIO, A6 1,658,0001.7m $1.5m $1.5m 0.00% New
13 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 1,250,0001.2m $1.2m $1.2m 0.00% Unchanged
14 Fore Capital, LLC 0.91% of their portfolio New York, NY 768,000768.0k $716.7k $716.7k 0.91% Added +16.0k +16,000
15 Pinnacle Holdings, LLC 0.16% of their portfolio TULSA, OK 500,000500.0k $464.8k $464.8k 0.16% Unchanged
16 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 400,000400.0k $372.1k $372.1k 0.00% Unchanged
17 Amundi 0.00% of their portfolio Paris, I0 175,000175.0k $162.7k $162.7k 0.00% Reduced -176.0k -176,000
18 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.00% of their portfolio HARRISBURG, PA 160,000160.0k $148.7k $148.7k 0.00% Unchanged
19 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 44,00044.0k $40.9k $40.9k 0.00% Unchanged
20 Moors & Cabot, Inc. 0.00% of their portfolio BOSTON, MA 39,00039.0k $36.3k $36.3k 0.00% Unchanged
21 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 7,6007.6k $7.1k $7.1k 0.00% Reduced -17.8m -17,846,000
22 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 5,0005.0k $4.6k $4.6k 0.00% New
23 Alken Asset Management Ltd 0.01% of their portfolio LONDON, X0 400400 $368 $368 0.01% Unchanged