Vault-13

CIPHER MINING INC CIFR 1.75 05.15.30

NOTE 1.750% 5/1 · US DOMESTIC · CUSIP 17253JAA4

17 institutional holders -2 vs Q1 2026
3,239,7663.2m shares reported held*
$861.4mreported value*
1 new 0 added 2 reduced 3 sold out net sold ≈ $43.5m (-87.0k 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. Holder counts are more reliable. Implied quarter-end price ≈ $265.88.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0102030Q2 25: 24Q3 25: 24Q4 25: 24Q1 26: 19Q2 26: 1717Q2 25Q3 25Q4 25Q1 26Q2 26
Numbers
QuarterHolders
Q2 202524
Q3 202524
Q4 202524
Q1 202619
Q2 202617

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q3 25: 13 bought or addedQ3 25: 15 cut or sold outQ3 25Q4 25: 8 bought or addedQ4 25: 12 cut or sold outQ4 25Q1 26: 8 bought or addedQ1 26: 12 cut or sold outQ1 26Q2 26: 1 bought or addedQ2 26: 5 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 20251315
Q4 2025812
Q1 2026812
Q2 202615

Biggest buyers

SSI INVESTMENT MANAGEMENT LLC New +87,000+87.0k

Biggest sellers

UBS Group AG Reduced -5,708,000-5.7m
LuminArx Capital Management LP Sold out -2,000,000-2.0m
SSI INVESTMENT MANAGEMENT LLC Sold out -87,000-87.0k
FMR LLC Reduced -20,000-20.0k
Jefferies Financial Group Inc. Sold out -11,000-11.0k

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Linden Advisors LP 1.28% of their portfolio New York, NY 44,000,00044.0m $247.3m $247.3m 1.28% Unchanged
2 D. E. Shaw & Co., Inc. 0.13% of their portfolio New York, NY 36,626,00036.6m $205.9m $205.9m 0.13% Unchanged
3 LMR Partners LLP 1.39% of their portfolio LONDON, X0 33,500,00033.5m $189.0m $189.0m 1.39% Unchanged
4 Point72 Asset Management, L.P. 0.11% of their portfolio STAMFORD, CT 13,230,00013.2m $74.4m $74.4m 0.11% Unchanged
5 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 8,396,0008.4m $471.2k $471.2k 0.00% Unchanged
6 BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio PARIS, I0 7,215,0007.2m $40.5m $40.5m 0.02% Unchanged
7 ABSOLUTE INVESTMENT ADVISERS, LLC 1.63% of their portfolio ROSEMARY BEACH, FL 3,000,0003.0m $16.9m $16.9m 1.63% Unchanged
8 Context Capital Management, LLC 0.23% of their portfolio LAJOLLA, CA 2,000,0002.0m $11.2m $11.2m 0.23% Unchanged
9 FMR LLC 0.00% of their portfolio BOSTON, MA 1,815,0001.8m $10.2m $10.2m 0.00% Reduced -20.0k -20,000
10 Walleye Capital LLC 0.03% of their portfolio NEW YORK, NY 1,000,0001.0m $5.6m $5.6m 0.03% Unchanged
11 Altshuler Shaham Ltd 0.02% of their portfolio Tel Aviv, L3 875,000875.0k $1.5m $1.5m 0.02% Unchanged
12 UBS Group AG 0.00% of their portfolio ZURICH, V8 714,000714.0k $4.0m $4.0m 0.00% Reduced -5.7m -5,708,000
13 NOMURA HOLDINGS INC 0.02% of their portfolio TOKYO, M0 239,766239.8k $5.9m $5.9m 0.02% Unchanged
14 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 150,000150.0k $843.5k $843.5k 0.00% Unchanged
15 ADVENT CAPITAL MANAGEMENT /DE/ 0.01% of their portfolio NEW YORK, NY 95,00095.0k $533.4k $533.4k 0.01% Unchanged
16 SSI INVESTMENT MANAGEMENT LLC 0.03% of their portfolio Los Angeles, CA 87,00087.0k $487.8k $487.8k 0.03% New
17 SG Americas Securities, LLC 0.03% of their portfolio NEW YORK, NY 83,41083.4k $46.6m $46.6m 0.03% Unchanged