CERENCE INC CRNC 1.5 07.01.28
NOTE 1.500% 7/0 · US DOMESTIC · CUSIP 156727AD1
18
institutional holders
-2 vs Q3 2025
50.0k
shares reported held*
$161.5mreported value*
4 new
6 added
4 reduced
7 sold out
net sold ≈ $35.0m (+50.0k 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 ($1.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $3256.73.
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2024 | 15 |
| Q4 2024 | 16 |
| Q1 2025 | 23 |
| Q2 2025 | 20 |
| Q3 2025 | 20 |
| Q4 2025 | 18 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Bought or addedCut or sold out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2024 | 5 | 5 |
| Q1 2025 | 12 | 10 |
| Q2 2025 | 7 | 11 |
| Q3 2025 | 7 | 8 |
| Q4 2025 | 10 | 11 |
Biggest buyers
| Context Capital Management, LLC | Added | +56.2m |
| INTREPID CAPITAL MANAGEMENT INC | New | +13.5m |
| OAKTREE CAPITAL MANAGEMENT LP | Added | +2.5m |
| TENOR CAPITAL MANAGEMENT Co., L.P. | Added | +1.5m |
| ADVENT CAPITAL MANAGEMENT /DE/ | Added | +700.0k |
| DEUTSCHE BANK AG\ | Added | +305.0k |
| RAYMOND JAMES FINANCIAL INC | New | +50.0k |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | New | +50.0k |
| K2 PRINCIPAL FUND, L.P. | Added | +10.8k |
| SG Americas Securities, LLC | New | +3.0k |
Biggest sellers
| HIGHBRIDGE CAPITAL MANAGEMENT LLC | Sold out | -32.0m |
| AGF MANAGEMENT LTD | Sold out | -18.7m |
| Linden Advisors LP | Reduced | -12.5m |
| SILVERBACK ASSET MANAGEMENT LLC | Reduced | -10.2m |
| WELLS FARGO & COMPANY/MN | Reduced | -6.1m |
| READYSTATE ASSET MANAGEMENT LP | Sold out | -5.0m |
| Penn Mutual Asset Management | Sold out | -2.6m |
| Russell Investments Group, Ltd. | Reduced | -463.0k |
| CSS LLC/IL | Sold out | -225.0k |
| Abacus Planning Group, Inc. | Sold out | -100.0k |
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| Context Capital Management, LLC 1.31% of their portfolio | 56.2m $50.7m | Added +56.2m |
| Linden Advisors LP 0.25% of their portfolio | 44.7m $40.3m | Reduced -12.5m |
| INTREPID CAPITAL MANAGEMENT INC 4.72% of their portfolio | 13.5m $12.2m | New |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 7.6m $6.8m | Added +305.0k |
| OAKTREE CAPITAL MANAGEMENT LP 0.10% of their portfolio | 6.6m $6.0m | Added +2.5m |
| ADVENT CAPITAL MANAGEMENT /DE/ 0.13% of their portfolio | 6.2m $5.6m | Added +700.0k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 5.3m $4.8m | Reduced -6.1m |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 5.0m $4.5m | Unchanged |
| TENOR CAPITAL MANAGEMENT Co., L.P. 0.06% of their portfolio | 4.9m $4.4m | Added +1.5m |
| Walleye Capital LLC 0.02% of their portfolio | 4.0m $3.6m | Unchanged |
| SILVERBACK ASSET MANAGEMENT LLC 0.46% of their portfolio | 3.4m $3.1m | Reduced -10.2m |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 2.8m $2.5m | Reduced -463.0k |
| FMR LLC 0.00% of their portfolio | 2.1m $1.9m | Unchanged |
| Ares Systematic Credit Ltd 0.88% of their portfolio | 1.2m $1.1m | First filing |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 50.0k $44.6k | New |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio | 50.0k $44.6k | New |
| K2 PRINCIPAL FUND, L.P. 1.55% of their portfolio | 16.8k $15.0m | Added +10.8k |
| SG Americas Securities, LLC 0.00% of their portfolio | 3.0k $275.0k | New |