Vault-13

COINBASE GLOBAL INC COIN 0.5 06.01.26

NOTE 0.500% 6/0 · US DOMESTIC · CUSIP 19260QAB3

53 institutional holders -7 vs Q1 2023
55,062,80355.1m shares reported held*
$1.1bnreported value*
3 new 11 added 25 reduced 10 sold out net sold ≈ $113.4m (-3.1m 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 ≈ $19.16.

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 54Q4 22: 57Q1 23: 60Q2 23: 5353Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202254
Q4 202257
Q1 202360
Q2 202353

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 22: 21 bought or addedQ4 22: 31 cut or sold outQ4 22Q1 23: 33 bought or addedQ1 23: 18 cut or sold outQ1 23Q2 23: 14 bought or addedQ2 23: 35 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 20222131
Q1 20233318
Q2 20231435

Calls vs puts

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

CallsPuts
$0$500k$1m$1.5m$2mQ3 22 calls: $0Q3 22 puts: $2.0mQ3 22P/C —Q4 22 calls: $0Q4 22 puts: $0Q4 22P/C —Q1 23 calls: $0Q1 23 puts: $0Q1 23P/C —Q2 23 calls: $0Q2 23 puts: $0Q2 23P/C —
Numbers
QuarterCallsPutsP/C
Q3 2022$0$2.0m—
Q4 2022$0$0—
Q1 2023$0$0—
Q2 2023$0$0—

Biggest buyers

MFN Partners Management, LP Added +93,953,000+94.0m
BAUPOST GROUP LLC/MA Added +65,000,000+65.0m
TPG GP A, LLC Added +36,500,000+36.5m
OAKTREE CAPITAL MANAGEMENT LP Added +26,557,000+26.6m
MILLENNIUM MANAGEMENT LLC New +14,500,000+14.5m
FIR TREE CAPITAL MANAGEMENT LP Added +8,380,000+8.4m
Centerbridge Partners, L.P. New +5,800,000+5.8m
STATE STREET CORP Added +4,350,000+4.3m
Graham Capital Management, L.P. Added +4,000,000+4.0m
Linden Advisors LP Added +4,000,000+4.0m

Biggest sellers

FMR LLC Reduced -103,557,000-103.6m
VOYA INVESTMENT MANAGEMENT LLC Reduced -49,800,000-49.8m
Shaolin Capital Management LLC Reduced -35,000,000-35.0m
Luxor Capital Group, LP Reduced -33,558,000-33.6m
Calamos Advisors LLC Reduced -30,800,000-30.8m
D. E. Shaw & Co., Inc. Reduced -19,000,000-19.0m
Sculptor Capital LP Sold out -16,500,000-16.5m
JPMORGAN CHASE & CO Reduced -16,380,000-16.4m
HIGHBRIDGE CAPITAL MANAGEMENT LLC Reduced -14,500,000-14.5m
Weiss Asset Management LP Reduced -13,500,000-13.5m

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VOYA INVESTMENT MANAGEMENT LLC 0.15% of their portfolio ATLANTA, GA 194,415,000194.4m $147.1m $147.1m 0.15% Reduced -49.8m -49,800,000
2 MFN Partners Management, LP 3.36% of their portfolio BOSTON, MA 136,953,000137.0m $103.6m $103.6m 3.36% Added +94.0m +93,953,000
3 FMR LLC 0.01% of their portfolio BOSTON, MA 119,165,000119.2m $89.5m $89.5m 0.01% Reduced -103.6m -103,557,000
4 BAUPOST GROUP LLC/MA 1.48% of their portfolio BOSTON, MA 110,250,000110.2m $83.1m $83.1m 1.48% Added +65.0m +65,000,000
5 TPG GP A, LLC 0.88% of their portfolio FORT WORTH, TX 79,500,00079.5m $60.1m $60.1m 0.88% Added +36.5m +36,500,000
6 REDWOOD CAPITAL MANAGEMENT, LLC 8.66% of their portfolio New York, NY 77,112,00077.1m $59.1m $59.1m 8.66% Reduced -3.2m -3,250,000
7 Knighthead Capital Management, LLC 1.51% of their portfolio NEW YORK, NY 69,275,00069.3m $52.1m $52.1m 1.51% Reduced -1.2m -1,250,000
8 Calamos Advisors LLC 0.22% of their portfolio NAPERVILLE, IL 57,132,00057.1m $43.3m $43.3m 0.22% Reduced -30.8m -30,800,000
9 Parallax Volatility Advisers, L.P. 0.97% of their portfolio San Francisco, CA 37,500,00037.5m $28.2m $28.2m 0.97% Unchanged
10 HIGHBRIDGE CAPITAL MANAGEMENT LLC 1.54% of their portfolio NEW YORK, NY 35,000,00035.0m $26.5m $26.5m 1.54% Reduced -14.5m -14,500,000
11 Linden Advisors LP 0.27% of their portfolio New York, NY 34,523,00034.5m $26.0m $26.0m 0.27% Added +4.0m +4,000,000
12 Thrivent Financial for Lutherans 0.06% of their portfolio Minneapolis, MN 34,332,00034.3m $25.5m $25.5m 0.06% Added +430.0k +430,000
13 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 31,982,00032.0m $24.2m $24.2m 0.00% Added +4.3m +4,350,000
14 OAKTREE CAPITAL MANAGEMENT LP 0.31% of their portfolio LOS ANGELES, CA 30,636,00030.6m $23.2m $23.2m 0.31% Added +26.6m +26,557,000
15 Weiss Asset Management LP 2.86% of their portfolio BOSTON, MA 29,718,00029.7m $22.5m $22.5m 2.86% Reduced -13.5m -13,500,000
16 MARSHALL WACE, LLP 0.05% of their portfolio LONDON, X0 28,000,00028.0m $21.2m $21.2m 0.05% Added +2.5m +2,500,000
17 D. E. Shaw & Co., Inc. 0.03% of their portfolio New York, NY 26,000,00026.0m $19.6m $19.6m 0.03% Reduced -19.0m -19,000,000
18 FIR TREE CAPITAL MANAGEMENT LP 1.69% of their portfolio New York, NY 22,290,00022.3m $17.2m $17.2m 1.69% Added +8.4m +8,380,000
19 WHITEBOX ADVISORS LLC 0.76% of their portfolio MINNEAPOLIS, MN 21,000,00021.0m $15.8m $15.8m 0.76% Reduced -10.0m -10,000,000
20 Graham Capital Management, L.P. 0.41% of their portfolio ROWAYTON, CT 16,000,00016.0m $12.1m $12.1m 0.41% Added +4.0m +4,000,000
21 Shaolin Capital Management LLC 1.10% of their portfolio Miami, FL 15,800,00015.8m $11.9m $11.9m 1.10% Reduced -35.0m -35,000,000
22 TWO SIGMA INVESTMENTS, LP 0.03% of their portfolio NEW YORK, NY 15,200,00015.2m $11.4m $11.4m 0.03% Unchanged
23 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 15,152,00015.2m $11.5m $11.5m 0.00% Reduced -16.4m -16,380,000
24 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 14,500,00014.5m $10.9m $10.9m 0.01% New
25 MOORE CAPITAL MANAGEMENT, LP 0.25% of their portfolio NEW YORK, NY 13,500,00013.5m $10.2m $10.2m 0.25% Unchanged
26 BlackRock Inc. 0.00% of their portfolio New York, NY 8,125,0008.1m $6.1m $6.1m 0.00% Reduced -350.0k -350,000
27 Ewing Morris & Co. Investment Partners Ltd. 4.13% of their portfolio TORONTO, Z4 7,050,0007.0m $5.3m $5.3m 4.13% Unchanged
28 Centerbridge Partners, L.P. 0.68% of their portfolio NEW YORK, NY 5,800,0005.8m $4.4m $4.4m 0.68% New
29 Point72 Asset Management, L.P. 0.01% of their portfolio STAMFORD, CT 5,500,0005.5m $4.1m $4.1m 0.01% Reduced -11.0m -11,000,000
30 CAPSTONE INVESTMENT ADVISORS, LLC 0.11% of their portfolio NEW YORK, NY 5,000,0005.0m $3.8m $3.8m 0.11% Reduced -3.3m -3,300,000
31 Luxor Capital Group, LP 0.33% of their portfolio NEW YORK, NY 4,000,0004.0m $3.0m $3.0m 0.33% Reduced -33.6m -33,558,000
32 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 3,500,0003.5m $1.9m $1.9m 0.00% Reduced -7.0m -7,000,000
33 TEGEAN CAPITAL MANAGEMENT, LLC 1.53% of their portfolio New York, NY 3,000,0003.0m $2.3m $2.3m 1.53% Unchanged
34 683 Capital Management, LLC 0.17% of their portfolio NEW YORK, NY 2,250,0002.2m $1.7m $1.7m 0.17% Unchanged
35 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 1,063,0001.1m $798.8k $798.8k 0.00% Reduced -9.7m -9,675,000
36 Saba Capital Management, L.P. 0.02% of their portfolio NEW YORK, NY 1,000,0001.0m $755.5k $755.5k 0.02% Reduced -2.0m -2,000,000
37 Murchinson Ltd. 0.10% of their portfolio TORONTO, A6 1,000,0001.0m $752.3k $752.3k 0.10% Reduced -3.0m -3,000,000
38 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 675,000675.0k $507.2k $507.2k 0.00% Added +175.0k +175,000
39 Man Group plc 0.00% of their portfolio LONDON, X0 550,000550.0k $408.4k $408.4k 0.00% Unchanged
40 BOOTHBAY FUND MANAGEMENT, LLC 0.01% of their portfolio NEW YORK, NY 500,000500.0k $378.6k $378.6k 0.01% Reduced -1.5m -1,500,000
41 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 500,000500.0k $378.2k $378.2k 0.00% Unchanged
42 MacKay Shields LLC 0.01% of their portfolio New York, NY 464,000464.0k $351.0k $351.0k 0.01% Unchanged
43 Jefferies Financial Group Inc. 0.01% of their portfolio NEW YORK, NY 400,000400.0k $302.3k $302.3k 0.01% Reduced -13.0m -13,043,000
44 Castleview Partners, LLC 11.03% of their portfolio DALLAS, TX 163,000163.0k $12.2m $12.2m 11.03% Reduced -11.0k -11,000
45 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 144,000144.0k $108.2k $108.2k 0.00% Reduced -170.0k -170,000
46 BLAIR WILLIAM & CO/IL 0.00% of their portfolio CHICAGO, IL 45,00045.0k $33.8k $33.8k 0.00% Unchanged
47 Optas, LLC 0.01% of their portfolio DRIPPING SPRINGS, TX 40,00040.0k $30.1k $30.1k 0.01% Unchanged
48 NINE MASTS CAPITAL Ltd 13.03% of their portfolio CENTRAL, K3 22,50022.5k $17.0m $17.0m 13.03% Unchanged
49 AM Squared Ltd 15.12% of their portfolio HONG KONG, K3 17,50017.5k $13.2m $13.2m 15.12% Unchanged
50 Context Capital Management, LLC 1.06% of their portfolio LAJOLLA, CA 15,50015.5k $11.7m $11.7m 1.06% Reduced -7.0k -6,987
51 Verition Fund Management LLC 0.12% of their portfolio GREENWICH, CT 10,00010.0k $7.6m $7.6m 0.12% Reduced -200 -200
52 Activest Wealth Management 0.04% of their portfolio AVENTURA, FL 303303 $61.9k $61.9k 0.04% New
53 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged