Vault-13

CMS ENERGY CORP CMS 3.375 05.01.28

NOTE 3.375% 5/0 · US DOMESTIC · CUSIP 125896BX7

58 institutional holders +4 vs Q3 2024
33,773,73033.8m shares reported held*
$677.5mreported value*
6 new 10 added 19 reduced 5 sold out net sold ≈ $114.2m (-1.8m 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. Implied quarter-end price ≈ $20.06.

Trends to Q4 2024

Institutional holders

Managers reporting a position, each quarter

0204060Q2 24: 47Q3 24: 54Q4 24: 5858Q2 24Q3 24Q4 24
Numbers
QuarterHolders
Q2 202447
Q3 202454
Q4 202458

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 24: 26 bought or addedQ3 24: 20 cut or sold outQ3 24Q4 24: 16 bought or addedQ4 24: 24 cut or sold outQ4 24
Numbers
QuarterBought or addedCut or sold out
Q3 20242620
Q4 20241624

Biggest buyers

BARCLAYS PLC Added +8,748,000+8.7m
BNP PARIBAS FINANCIAL MARKETS Added +5,560,000+5.6m
MORGAN STANLEY Added +3,526,000+3.5m
OAKTREE CAPITAL MANAGEMENT LP Added +3,158,000+3.2m
MIZUHO SECURITIES USA LLC New +3,000,000+3.0m
CITIGROUP INC Added +2,916,000+2.9m
STATE STREET CORP Added +900,000+900.0k
Thrivent Financial for Lutherans Added +420,000+420.0k
WELLINGTON MANAGEMENT GROUP LLP Added +25,000+25.0k
Steward Partners Investment Advisory, LLC New +25,000+25.0k

Biggest sellers

Polar Asset Management Partners Inc. Reduced -30,000,000-30.0m
Magnetar Financial LLC Reduced -27,500,000-27.5m
Lombard Odier Asset Management (Europe) Ltd Sold out -15,521,000-15.5m
ARISTEIA CAPITAL, L.L.C. Reduced -14,500,000-14.5m
JPMORGAN CHASE & CO Reduced -9,723,000-9.7m
SHENKMAN CAPITAL MANAGEMENT INC Reduced -8,725,000-8.7m
FMR LLC Reduced -5,507,000-5.5m
LMR Partners LLP Sold out -5,500,000-5.5m
Flow State Investments, L.P. Sold out -5,000,000-5.0m
CAMDEN ASSET MANAGEMENT L P /CA Reduced -4,148,000-4.1m

Holders, Q4 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 ADVENT CAPITAL MANAGEMENT /DE/ 2.14% of their portfolio NEW YORK, NY 88,531,00088.5m $92.1m $92.1m 2.14% Reduced -1.1m -1,058,000
2 LAZARD ASSET MANAGEMENT LLC 0.12% of their portfolio NEW YORK, NY 78,737,00078.7m $81.9m $81.9m 0.12% Reduced -777.0k -777,000
3 Aequim Alternative Investments LP 2.01% of their portfolio MILL VALLEY, CA 60,000,00060.0m $62.4m $62.4m 2.01% Unchanged
4 Universal- Beteiligungs- und Servicegesellschaft mbH 0.12% of their portfolio FRANKFURT AM MAIN, 2M 58,487,00058.5m $61.2m $61.2m 0.12% First filing
5 Polar Asset Management Partners Inc. 0.77% of their portfolio TORONTO, A6 50,000,00050.0m $51.9m $51.9m 0.77% Reduced -30.0m -30,000,000
6 Calamos Advisors LLC 0.24% of their portfolio NAPERVILLE, IL 49,952,00050.0m $51.9m $51.9m 0.24% Reduced -63.0k -63,000
7 VICTORY CAPITAL MANAGEMENT INC 0.03% of their portfolio San Antonio, TX 28,161,00028.2m $29.2m $29.2m 0.03% Reduced -46.0k -46,000
8 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 18,125,00018.1m $18.9m $18.9m 0.00% Added +900.0k +900,000
9 BlackRock, Inc. 0.00% of their portfolio New York, NY 16,938,00016.9m $17.5m $17.5m 0.00% Reduced -900.0k -900,000
10 MARSHALL WACE, LLP 0.02% of their portfolio LONDON, X0 16,000,00016.0m $16.6m $16.6m 0.02% Unchanged
11 SHENKMAN CAPITAL MANAGEMENT INC 1.17% of their portfolio NEW YORK, NY 12,527,00012.5m $13.4m $13.4m 1.17% Reduced -8.7m -8,725,000
12 INCOME RESEARCH & MANAGEMENT 5.48% of their portfolio Boston, MA 11,100,00011.1m $11.5m $11.5m 5.48% Unchanged
13 Magnetar Financial LLC 0.26% of their portfolio EVANSTON, IL 11,010,00011.0m $11.4m $11.4m 0.26% Reduced -27.5m -27,500,000
14 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 10,639,00010.6m $11.1m $11.1m 0.00% Reduced -9.7m -9,723,000
15 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 9,260,0009.3m $9.6m $9.6m 0.00% Unchanged
16 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 9,253,0009.3m $9.6m $9.6m 0.00% Added +8.7m +8,748,000
17 OAKTREE CAPITAL MANAGEMENT LP 0.18% of their portfolio LOS ANGELES, CA 9,138,0009.1m $9.5m $9.5m 0.18% Added +3.2m +3,158,000
18 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio FRANKFURT AM MAIN, 2M 8,250,0008.2m $8.6m $8.6m 0.01% Unchanged
19 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 7,882,0007.9m $8.2m $8.2m 0.01% Added +5.6m +5,560,000
20 CAMDEN ASSET MANAGEMENT L P /CA 0.21% of their portfolio Los Angeles, CA 7,623,0007.6m $7.9m $7.9m 0.21% Reduced -4.1m -4,148,000
21 Thrivent Financial for Lutherans 0.01% of their portfolio Minneapolis, MN 7,215,0007.2m $7.5m $7.5m 0.01% Added +420.0k +420,000
22 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.02% of their portfolio Paris, I0 7,000,0007.0m $7.2m $7.2m 0.02% Unchanged
23 FMR LLC 0.00% of their portfolio BOSTON, MA 5,273,0005.3m $5.5m $5.5m 0.00% Reduced -5.5m -5,507,000
24 GABELLI FUNDS LLC 0.04% of their portfolio Rye, NY 5,100,0005.1m $5.3m $5.3m 0.04% Unchanged
25 NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio ALBANY, NY 5,021,0005.0m $5.2m $5.2m 0.01% Reduced -2.1m -2,086,000
26 ZAZOVE ASSOCIATES LLC 0.50% of their portfolio INCLINE VILLAGE, NV 4,975,0005.0m $5.2m $5.2m 0.50% Unchanged
27 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 4,789,0004.8m $5.0m $5.0m 0.00% Reduced -166.0k -166,000
28 Man Group plc 0.01% of their portfolio LONDON, X0 4,400,0004.4m $4.6m $4.6m 0.01% Unchanged
29 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 4,274,0004.3m $4.4m $4.4m 0.00% Added +3.5m +3,526,000
30 Amundi 0.00% of their portfolio Paris, I0 4,100,0004.1m $4.2m $4.2m 0.00% Unchanged
31 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 3,597,0003.6m $3.7m $3.7m 0.00% Added +2.9m +2,916,000
32 Union Bancaire Privee, UBP SA 0.06% of their portfolio GENEVA 1, V8 3,300,0003.3m $3.3m $3.3m 0.06% First filing
33 MIZUHO SECURITIES USA LLC 0.06% of their portfolio NEW YORK, NY 3,000,0003.0m $3.1m $3.1m 0.06% New
34 MUFG SECURITIES AMERICAS INC. 0.38% of their portfolio NEW YORK, NY 2,968,0003.0m $3.0m $3.0m 0.38% First filing
35 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 2,730,0002.7m $2.8m $2.8m 0.00% Unchanged
36 SSI INVESTMENT MANAGEMENT LLC 0.21% of their portfolio Los Angeles, CA 2,683,0002.7m $2.8m $2.8m 0.21% Unchanged
37 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 2,500,0002.5m $2.6m $2.6m 0.00% Unchanged
38 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 2,310,0002.3m $2.4m $2.4m 0.00% Reduced -199.0k -199,000
39 WESTWOOD HOLDINGS GROUP INC 0.02% of their portfolio DALLAS, TX 2,000,0002.0m $2.1m $2.1m 0.02% Unchanged
40 Wellesley Asset Management 0.16% of their portfolio PORTSMOUTH, NH 1,494,0001.5m $1.6m $1.6m 0.16% Reduced -2.5m -2,505,000
41 ARISTEIA CAPITAL, L.L.C. 0.04% of their portfolio GREENWICH, CT 1,000,0001.0m $1.0m $1.0m 0.04% Reduced -14.5m -14,500,000
42 AEGON USA Investment Management, LLC 0.72% of their portfolio CEDAR RAPIDS, IA 905,000905.0k $937.1k $937.1k 0.72% Unchanged
43 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 763,000763.0k $796.5k $796.5k 0.00% Added +25.0k +25,000
44 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 400,000400.0k $416.1k $416.1k 0.00% Reduced -100.0k -100,000
45 FIRST HAWAIIAN BANK 0.00% of their portfolio HONOLULU, HI 138,000138.0k $142.9k $142.9k 0.00% Unchanged
46 LAKE STREET ADVISORS GROUP, LLC 0.00% of their portfolio PORTSMOUTH, NH 51,00051.0k $52.8k $52.8k 0.00% Unchanged
47 Virtus Investment Advisers, LLC 0.03% of their portfolio HARTFORD, CT 42,00042.0k $43.5k $43.5k 0.03% Unchanged
48 NOMURA HOLDINGS INC 0.01% of their portfolio TOKYO, M0 31,23031.2k $2.1m $2.1m 0.01% Reduced -2.7k -2,690
49 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 25,00025.0k $25.9k $25.9k 0.00% New
50 Bleakley Financial Group, LLC 0.00% of their portfolio PARSIPPANY, NJ 21,00021.0k $21.7k $21.7k 0.00% New
51 Oaktree Fund Advisors, LLC 0.03% of their portfolio LOS ANGLES, CA 20,00020.0k $20.8k $20.8k 0.03% Unchanged
52 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 18,00018.0k $18.6k $18.6k 0.00% Added +2.0k +2,000
53 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 10,00010.0k $10.4k $10.4k 0.00% New
54 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 4,0004.0k $4.1k $4.1k 0.00% New
55 Alken Asset Management Ltd 6.48% of their portfolio LONDON, X0 3,3003.3k $3.4m $3.4m 6.48% Added +850 +850
56 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 3,0003.0k $3.1k $3.1k 0.00% Reduced -1.1m -1,113,000
57 NATIXIS 0.02% of their portfolio PARIS, I0 2,5002.5k $2.6m $2.6m 0.02% New
58 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged