Vault-13

CHEGG INC CHGG 0.125 03.15.25

NOTE 0.125% 3/1 · US DOMESTIC · CUSIP 163092AD1

60 institutional holders +3 vs Q4 2022
72,294,85772.3m shares reported held*
$654.9mreported value*
18 new 13 added 12 reduced 15 sold out net sold ≈ $45.4m (-36.4m 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 ($351.8k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $9.06.

Trends to Q1 2023

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 52Q4 22: 57Q1 23: 6060Q3 22Q4 22Q1 23
Numbers
QuarterHolders
Q3 202252
Q4 202257
Q1 202360

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 22: 27 bought or addedQ4 22: 22 cut or sold outQ4 22Q1 23: 31 bought or addedQ1 23: 27 cut or sold outQ1 23
Numbers
QuarterBought or addedCut or sold out
Q4 20222722
Q1 20233127

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$500k$1m$1.5mQ3 22 calls: $0Q3 22 puts: $1.3mQ3 22P/C —Q4 22 calls: $0Q4 22 puts: $0Q4 22P/C —Q1 23 calls: $0Q1 23 puts: $0Q1 23P/C —
Numbers
QuarterCallsPutsP/C
Q3 2022$0$1.3m—
Q4 2022$0$0—
Q1 2023$0$0—

Biggest buyers

LAZARD ASSET MANAGEMENT LLC New +47,800,000+47.8m
TENOR CAPITAL MANAGEMENT Co., L.P. New +39,425,000+39.4m
Linden Advisors LP Added +35,740,000+35.7m
Wellesley Asset Management Added +21,004,811+21.0m
Fort Baker Capital Management LP New +13,300,000+13.3m
Opti Capital Management, LP New +13,250,000+13.2m
Nuveen Asset Management, LLC New +7,000,000+7.0m
FMR LLC Added +6,725,000+6.7m
SHENKMAN CAPITAL MANAGEMENT INC Added +6,097,000+6.1m
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Added +4,200,000+4.2m

Biggest sellers

WOLVERINE ASSET MANAGEMENT LLC Sold out -55,853,000-55.9m
LORD, ABBETT & CO. LLC Reduced -54,519,000-54.5m
LORD, ABBETT & CO. LLC Reduced -54,519,000-54.5m
VOYA INVESTMENT MANAGEMENT LLC Reduced -49,090,000-49.1m
Magnetar Financial LLC Sold out -16,562,000-16.6m
Jefferies Financial Group Inc. Sold out -7,889,000-7.9m
BANK OF MONTREAL /CAN/ Sold out -7,050,000-7.0m
DEUTSCHE BANK AG\ Sold out -3,420,000-3.4m
AQR Arbitrage LLC Reduced -3,250,000-3.2m
CSS LLC/IL Sold out -3,000,000-3.0m

Holders, Q1 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VOYA INVESTMENT MANAGEMENT LLC 0.13% of their portfolio ATLANTA, GA 142,330,000142.3m $125.3m $125.3m 0.13% Reduced -49.1m -49,090,000
2 D. E. Shaw & Co., Inc. 0.11% of their portfolio New York, NY 78,887,00078.9m $69.5m $69.5m 0.11% Unchanged
3 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.02% of their portfolio NEW YORK, NY 55,900,00055.9m $48.9m $48.9m 0.02% Added +4.2m +4,200,000
4 LAZARD ASSET MANAGEMENT LLC 0.06% of their portfolio NEW YORK, NY 47,800,00047.8m $42.1m $42.1m 0.06% New
5 ADVENT CAPITAL MANAGEMENT /DE/ 0.77% of their portfolio NEW YORK, NY 45,499,00045.5m $40.0m $40.0m 0.77% Added +1.1m +1,089,000
6 TENOR CAPITAL MANAGEMENT Co., L.P. 0.69% of their portfolio NEW YORK, NY 39,425,00039.4m $34.7m $34.7m 0.69% New
7 Linden Advisors LP 0.33% of their portfolio New York, NY 35,877,00035.9m $31.5m $31.5m 0.33% Added +35.7m +35,740,000
8 LORD, ABBETT & CO. LLC 0.06% of their portfolio JERSEY CITY, NJ 34,887,00034.9m $30.6m $30.6m 0.06% Reduced -54.5m -54,519,000
9 LORD, ABBETT & CO. LLC 0.06% of their portfolio JERSEY CITY, NJ 34,887,00034.9m $30.6m $30.6m 0.06% Reduced -54.5m -54,519,000
10 SHENKMAN CAPITAL MANAGEMENT INC 1.69% of their portfolio NEW YORK, NY 25,348,00025.3m $22.2m $22.2m 1.69% Added +6.1m +6,097,000
11 Wellesley Asset Management 1.39% of their portfolio PORTSMOUTH, NH 21,042,23021.0m $18.9m $18.9m 1.39% Added +21.0m +21,004,811
12 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 15,213,00015.2m $13.4m $13.4m 0.00% Reduced -2.8m -2,800,000
13 Calamos Advisors LLC 0.06% of their portfolio NAPERVILLE, IL 13,457,00013.5m $11.8m $11.8m 0.06% Unchanged
14 FMR LLC 0.00% of their portfolio BOSTON, MA 13,450,00013.4m $11.8m $11.8m 0.00% Added +6.7m +6,725,000
15 Fort Baker Capital Management LP 2.52% of their portfolio Larkspur, CA 13,300,00013.3m $11.7m $11.7m 2.52% New
16 Opti Capital Management, LP 0.95% of their portfolio New York, NY 13,250,00013.2m $11.7m $11.7m 0.95% New
17 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.02% of their portfolio FRANKFURT AM MAIN, 2M 10,550,00010.6m $9.3m $9.3m 0.02% Added +750.0k +750,000
18 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.02% of their portfolio Paris, I0 7,850,0007.8m $6.9m $6.9m 0.02% Unchanged
19 BARCLAYS PLC 0.01% of their portfolio LONDON, X0 7,350,0007.3m $6.5m $6.5m 0.01% Added +2.8m +2,792,000
20 Nuveen Asset Management, LLC 0.00% of their portfolio CHICAGO, IL 7,000,0007.0m $6.2m $6.2m 0.00% New
21 NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio ALBANY, NY 6,500,0006.5m $5.7m $5.7m 0.01% Added +1.6m +1,552,000
22 PRIVATE MANAGEMENT GROUP INC 0.25% of their portfolio IRVINE, CA 6,255,0006.3m $5.5m $5.5m 0.25% Added +742.0k +742,000
23 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 5,849,0005.8m $5.1m $5.1m 0.00% Reduced -2.3m -2,280,000
24 AQR Arbitrage LLC 0.13% of their portfolio Greenwich, CT 4,825,0004.8m $4.2m $4.2m 0.13% Reduced -3.2m -3,250,000
25 BlackRock Inc. 0.00% of their portfolio New York, NY 4,081,0004.1m $3.6m $3.6m 0.00% Reduced -2.4m -2,400,000
26 PALISADE CAPITAL MANAGEMENT, LP 0.09% of their portfolio FORT LEE, NJ 3,938,0003.9m $3.5m $3.5m 0.09% Unchanged
27 SSI INVESTMENT MANAGEMENT LLC 0.20% of their portfolio Los Angeles, CA 3,250,0003.2m $2.8m $2.8m 0.20% New
28 EUBEL BRADY & SUTTMAN ASSET MANAGEMENT INC 0.38% of their portfolio Miamisburg, OH 3,000,0003.0m $2.6m $2.6m 0.38% New
29 MACQUARIE GROUP LTD 0.00% of their portfolio Sydney, NSW 2000, C3 2,850,0002.9m $2.5m $2.5m 0.00% Unchanged
30 FEDERATED HERMES, INC. 0.00% of their portfolio PITTSBURGH, PA 2,065,0002.1m $1.8m $1.8m 0.00% New
31 SONA ASSET MANAGEMENT (US) LLC 0.30% of their portfolio NEW YORK, NY 1,600,0001.6m $1.4m $1.4m 0.30% New
32 TORONTO DOMINION BANK 0.00% of their portfolio TORONTO, ONTARIO, A6 1,500,0001.5m $1.3m $1.3m 0.00% New
33 WESTWOOD HOLDINGS GROUP INC 0.01% of their portfolio DALLAS, TX 1,500,0001.5m $1.3m $1.3m 0.01% Unchanged
34 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 900,000900.0k $789.9k $789.9k 0.00% New
35 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 700,000700.0k $615.3k $615.3k 0.00% Added +200.0k +200,000
36 NOMURA HOLDINGS INC 0.09% of their portfolio TOKYO, M0 545,521545.5k $8.9m $8.9m 0.09% Added +543.4k +543,426
37 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 515,000515.0k $450.6k $450.6k 0.00% Added +399.0k +399,000
38 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 410,000410.0k $358.8k $358.8k 0.00% New
39 Paloma Partners Management Co 0.08% of their portfolio GREENWICH, CT 400,000400.0k $351.8k $351.8k 0.08% New
40 Cutler Capital Management, LLC 0.10% of their portfolio WORCESTER, MA 260,000260.0k $227.5k $227.5k 0.10% Unchanged
41 BASSO CAPITAL MANAGEMENT, L.P. 0.17% of their portfolio STAMFORD, CT 200,000200.0k $175.0k $175.0k 0.17% Unchanged
42 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 142,000142.0k $124.8k $124.8k 0.00% Reduced -95.0k -95,000
43 D.A. DAVIDSON & CO. 0.00% of their portfolio GREAT FALLS, MT 120,000120.0k $104.9k $104.9k 0.00% Reduced -20.0k -20,000
44 Cetera Advisors LLC 0.00% of their portfolio DENVER, CO 61,00061.0k $53.4k $53.4k 0.00% Unchanged
45 Cetera Advisor Networks LLC 0.00% of their portfolio EL SEGUNDO, CA 43,00043.0k $37.6k $37.6k 0.00% Unchanged
46 SG Americas Securities, LLC 0.05% of their portfolio NEW YORK, NY 41,67041.7k $3.7m $3.7m 0.05% Reduced -180 -180
47 LAKE STREET ADVISORS GROUP, LLC 0.00% of their portfolio PORTSMOUTH, NH 40,00040.0k $35.0k $35.0k 0.00% New
48 Stonegate Investment Group, LLC 0.00% of their portfolio BIRMINGHAM, AL 37,00037.0k $32.4k $32.4k 0.00% Unchanged
49 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 30,00030.0k $26.3k $26.3k 0.00% Unchanged
50 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 24,00024.0k $21.0k $21.0k 0.00% New
51 UBS Group AG 0.00% of their portfolio ZURICH, V8 15,00015.0k $13.1k $13.1k 0.00% Reduced -4.0k -4,000
52 Marcum Wealth, LLC 0.00% of their portfolio CLEVELAND, OH 12,00012.0k $10.5k $10.5k 0.00% Reduced -8.0k -8,000
53 Context Capital Management, LLC 0.85% of their portfolio LAJOLLA, CA 11,50011.5k $10.1m $10.1m 0.85% New
54 PATRON PARTNERS, LLC 0.01% of their portfolio HOUSTON, TX 10,00010.0k $8.7k $8.7k 0.01% Unchanged
55 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 6,0006.0k $5.2k $5.2k 0.00% Unchanged
56 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 4,8574.9k $4.3m $4.3m 0.00% New
57 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 2,0002.0k $2.0k $2.0k 0.00% Unchanged
58 FIFTH THIRD BANCORP 0.00% of their portfolio CINCINNATI, OH 1,0001.0k $87.5k $87.5k 0.00% New
59 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 2929 $25.4k $25.4k 0.00% Unchanged
60 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged