Vault-13

COINBASE GLOBAL INC COIN 0.25 04.01.30

NOTE 0.250% 4/0 · US DOMESTIC · CUSIP 19260QAF4

77 institutional holders +1 vs Q4 2025
26,516,35126.5m shares reported held*
$1.0bnreported value*
14 new 20 added 23 reduced 14 sold out net sold ≈ $45.3m (+140.9k 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 ($3.9m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $38.38.

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

050100Q1 25: 25Q2 25: 74Q3 25: 73Q4 25: 76Q1 26: 7777Q1 25Q2 25Q3 25Q4 25Q1 26
Numbers
QuarterHolders
Q1 202525
Q2 202574
Q3 202573
Q4 202576
Q1 202677

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q2 25: 62 bought or addedQ2 25: 9 cut or sold outQ2 25Q3 25: 41 bought or addedQ3 25: 34 cut or sold outQ3 25Q4 25: 27 bought or addedQ4 25: 31 cut or sold outQ4 25Q1 26: 34 bought or addedQ1 26: 37 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 2025629
Q3 20254134
Q4 20252731
Q1 20263437

Calls vs puts

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

CallsPuts
$0$2m$4m$6mQ2 25 calls: $4.6mQ2 25 puts: $0Q2 25P/C 0.00Q3 25 calls: $0Q3 25 puts: $0Q3 25P/C —Q4 25 calls: $0Q4 25 puts: $0Q4 25P/C —Q1 26 calls: $0Q1 26 puts: $0Q1 26P/C —
Numbers
QuarterCallsPutsP/C
Q2 2025$4.6m$00.00
Q3 2025$0$0—
Q4 2025$0$0—
Q1 2026$0$0—

Biggest buyers

D. E. Shaw & Co., Inc. Added +69,871,000+69.9m
WHITEBOX ADVISORS LLC Added +30,414,000+30.4m
Amundi Added +16,000,000+16.0m
AMERIPRISE FINANCIAL INC New +16,000,000+16.0m
Calamos Advisors LLC Added +15,101,000+15.1m
GLAZER CAPITAL, LLC Added +14,600,000+14.6m
LORD, ABBETT & CO. LLC New +10,550,000+10.6m
ADVENT CAPITAL MANAGEMENT /DE/ Added +9,573,000+9.6m
Saba Capital Management, L.P. New +8,500,000+8.5m
SSI INVESTMENT MANAGEMENT LLC New +7,297,000+7.3m

Biggest sellers

SONA ASSET MANAGEMENT (US) LLC Sold out -40,000,000-40.0m
HBK INVESTMENTS L P Sold out -37,200,000-37.2m
WOLVERINE ASSET MANAGEMENT LLC Reduced -35,222,000-35.2m
Lombard Odier Asset Management (Europe) Ltd Sold out -27,895,000-27.9m
AQR Arbitrage LLC Sold out -16,410,000-16.4m
Paloma Partners Management Co Sold out -13,684,000-13.7m
Portman Square Capital LLP Sold out -10,000,000-10.0m
CITADEL ADVISORS LLC Reduced -9,500,000-9.5m
Invesco Ltd. Reduced -8,800,000-8.8m
OAKTREE CAPITAL MANAGEMENT LP Reduced -8,146,000-8.1m

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 WHITEBOX ADVISORS LLC 1.58% of their portfolio MINNEAPOLIS, MN 120,456,000120.5m $111.6m $111.6m 1.58% Added +30.4m +30,414,000
2 Linden Advisors LP 0.58% of their portfolio New York, NY 111,426,000111.4m $103.7m $103.7m 0.58% Added +2.8m +2,750,000
3 D. E. Shaw & Co., Inc. 0.07% of their portfolio New York, NY 92,871,00092.9m $86.4m $86.4m 0.07% Added +69.9m +69,871,000
4 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 76,539,00076.5m $712.0k $712.0k 0.00% Added +6.4m +6,355,000
5 Calamos Advisors LLC 0.22% of their portfolio NAPERVILLE, IL 62,233,00062.2m $58.0m $58.0m 0.22% Added +15.1m +15,101,000
6 FMR LLC 0.00% of their portfolio BOSTON, MA 45,954,00046.0m $42.6m $42.6m 0.00% Unchanged
7 GLAZER CAPITAL, LLC 0.83% of their portfolio New York, NY 41,700,00041.7m $38.8m $38.8m 0.83% Added +14.6m +14,600,000
8 MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio NEW YORK, NY 41,585,00041.6m $38.7m $38.7m 0.03% Reduced -5.7m -5,665,000
9 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 29,000,00029.0m $27.0m $27.0m 0.01% Unchanged
10 Jump Financial, LLC 0.37% of their portfolio Chicago, IL 27,000,00027.0m $25.0m $25.0m 0.37% Added +6.0m +6,000,000
11 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 26,950,00026.9m $25.1m $25.1m 0.00% Reduced -150.0k -150,000
12 Weiss Asset Management LP 0.46% of their portfolio BOSTON, MA 26,934,00026.9m $25.1m $25.1m 0.46% Not comparable
13 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 25,345,00025.3m $22.9m $22.9m 0.00% Added +733.0k +733,000
14 Verition Fund Management LLC 0.22% of their portfolio GREENWICH, CT 24,000,00024.0m $22.3m $22.3m 0.22% Reduced -6.0m -6,000,000
15 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.03% of their portfolio TORONTO, A6 22,500,00022.5m $20.9m $20.9m 0.03% Unchanged
16 Man Group plc 0.04% of their portfolio LONDON, X0 21,620,00021.6m $20.1m $20.1m 0.04% Added +550.0k +550,000
17 BlackRock, Inc. 0.00% of their portfolio New York, NY 20,650,00020.6m $19.1m $19.1m 0.00% Added +4.4m +4,425,000
18 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 18,993,00019.0m $17.6m $17.6m 0.00% Reduced -257.0k -257,000
19 DeepCurrents Investment Group LLC 0.63% of their portfolio NEW YORK, NY 16,500,00016.5m $15.4m $15.4m 0.63% Unchanged
20 Amundi 0.00% of their portfolio Paris, I0 16,360,00016.4m $348.4k $348.4k 0.00% Added +16.0m +16,000,000
21 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 16,000,00016.0m $14.8m $14.8m 0.00% New
22 WOLVERINE ASSET MANAGEMENT LLC 0.21% of their portfolio CHICAGO, IL 14,128,00014.1m $13.2m $13.2m 0.21% Reduced -35.2m -35,222,000
23 ADVENT CAPITAL MANAGEMENT /DE/ 0.38% of their portfolio NEW YORK, NY 13,923,00013.9m $13.0m $13.0m 0.38% Added +9.6m +9,573,000
24 Universal- Beteiligungs- und Servicegesellschaft mbH 0.02% of their portfolio FRANKFURT AM MAIN, 2M 12,250,00012.2m $11.4m $11.4m 0.02% Reduced -4.4m -4,372,000
25 Magnetar Financial LLC 0.11% of their portfolio EVANSTON, IL 11,673,00011.7m $10.8m $10.8m 0.11% Unchanged
26 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio FRANKFURT AM MAIN, 2M 11,350,00011.3m $10.5m $10.5m 0.01% Unchanged
27 LORD, ABBETT & CO. LLC 0.03% of their portfolio JERSEY CITY, NJ 10,550,00010.6m $9.8m $9.8m 0.03% New
28 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 8,910,0008.9m $8.3m $8.3m 0.01% Reduced -9.5m -9,500,000
29 Saba Capital Management, L.P. 0.25% of their portfolio NEW YORK, NY 8,500,0008.5m $7.9m $7.9m 0.25% New
30 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 8,378,0008.4m $7.8m $7.8m 0.00% Reduced -4.3m -4,334,000
31 Thrivent Financial for Lutherans 0.01% of their portfolio Minneapolis, MN 8,204,0008.2m $7.6m $7.6m 0.01% Reduced -485.0k -485,000
32 RWC Asset Management LLP 0.32% of their portfolio LONDON, X0 8,165,0008.2m $7.6m $7.6m 0.32% Reduced -1.1m -1,093,000
33 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.01% of their portfolio Paris, I0 7,624,0007.6m $7.1m $7.1m 0.01% Reduced -5.2m -5,200,000
34 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 7,595,0007.6m $7.1m $7.1m 0.00% Reduced -6.5m -6,478,000
35 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 7,500,0007.5m $6.9m $6.9m 0.01% Reduced -2.5m -2,500,000
36 SSI INVESTMENT MANAGEMENT LLC 0.47% of their portfolio Los Angeles, CA 7,297,0007.3m $6.8m $6.8m 0.47% New
37 Radcliffe Capital Management, L.P. 0.42% of their portfolio BALA CYNWYD, PA 6,000,0006.0m $5.6m $5.6m 0.42% Unchanged
38 VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio ATLANTA, GA 5,325,0005.3m $5.0m $5.0m 0.01% New
39 Pinpoint Asset Management (Singapore) Pte. Ltd. 1.09% of their portfolio SINGAPORE, U0 5,000,0005.0m $4.7m $4.7m 1.09% New
40 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 4,580,0004.6m $4.2m $4.2m 0.00% Added +3.9m +3,901,000
41 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 4,155,0004.2m $3.8m $3.8m 0.00% Added +3.7m +3,710,000
42 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 3,972,0004.0m $3.7m $3.7m 0.00% Reduced -971.0k -971,000
43 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 3,000,0003.0m $2.8m $2.8m 0.01% Unchanged
44 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 3,000,0003.0m $2.8m $2.8m 0.00% Reduced -700.0k -700,000
45 Balyasny Asset Management L.P. 0.01% of their portfolio Chicago, IL 3,000,0003.0m $2.8m $2.8m 0.01% New
46 ABSOLUTE INVESTMENT ADVISERS, LLC 0.31% of their portfolio ROSEMARY BEACH, FL 2,837,0002.8m $2.6m $2.6m 0.31% Unchanged
47 NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.00% of their portfolio PHILADELPHIA, PA 2,581,0002.6m $2.4m $2.4m 0.00% Unchanged
48 AGF MANAGEMENT LTD 0.01% of their portfolio TORONTO, A6 2,500,0002.5m $2.3m $2.3m 0.01% Reduced -1.6m -1,625,000
49 OAKTREE CAPITAL MANAGEMENT LP 0.04% of their portfolio LOS ANGELES, CA 2,364,0002.4m $2.2m $2.2m 0.04% Reduced -8.1m -8,146,000
50 OFI INVEST ASSET MANAGEMENT 0.02% of their portfolio ISSY LES MOULINEAUX, I0 2,200,0002.2m $1.8m $1.8m 0.02% Unchanged
51 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 2,000,0002.0m $1.9m $1.9m 0.00% Reduced -8.8m -8,800,000
52 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 1,987,0002.0m $1.8m $1.8m 0.00% Reduced -584.0k -584,000
53 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 1,750,0001.8m $1.6m $1.6m 0.00% New
54 Benefit Street Partners LLC 1.87% of their portfolio NEW YORK, NY 1,750,0001.8m $1.6m $1.6m 1.87% Added +250.0k +250,000
55 SHENKMAN CAPITAL MANAGEMENT INC 0.19% of their portfolio NEW YORK, NY 1,726,0001.7m $1.6m $1.6m 0.19% Reduced -550.0k -550,000
56 Jefferies Financial Group Inc. 0.02% of their portfolio NEW YORK, NY 1,694,0001.7m $1.6m $1.6m 0.02% Added +1.2m +1,244,000
57 GROUPAMA ASSET MANAGMENT 0.02% of their portfolio PARIS, I0 1,350,0001.4m $1.2m $1.2m 0.02% Unchanged
58 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 1,150,0001.1m $1.1m $1.1m 0.00% Added +350.0k +350,000
59 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 900,000900.0k $840.0k $840.0k 0.00% Unchanged
60 Calamos Wealth Management LLC 0.02% of their portfolio NAPERVILLE, IL 685,000685.0k $637.9k $637.9k 0.02% Added +220.0k +220,000
61 SG Americas Securities, LLC 0.06% of their portfolio NEW YORK, NY 550,000550.0k $51.2m $51.2m 0.06% Unchanged
62 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 546,000546.0k $509.1k $509.1k 0.00% Unchanged
63 WT Asset Management Ltd 0.01% of their portfolio HONG KONG, K3 500,000500.0k $466.7k $466.7k 0.01% Unchanged
64 Ares Systematic Credit Ltd 0.29% of their portfolio LONDON, X0 400,000400.0k $362.8k $362.8k 0.29% Added +100.0k +100,000
65 Central Pacific Bank - Trust Division 0.05% of their portfolio HONOLULU, HI 386,000386.0k $357.6k $357.6k 0.05% Unchanged
66 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 325,000325.0k $300.7k $300.7k 0.00% New
67 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 300,000300.0k $279.5k $279.5k 0.00% Reduced -100.0k -100,000
68 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 191,000191.0k $177.9k $177.9k 0.00% Reduced -798.0k -798,000
69 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 149,000149.0k $138.0k $138.0k 0.00% New
70 NOMURA HOLDINGS INC 0.16% of their portfolio TOKYO, M0 107,932107.9k $18.8m $18.8m 0.16% Reduced -5.9k -5,860
71 VIRTUS ADVISERS, LLC 0.02% of their portfolio HARTFORD, CT 42,00042.0k $38.9k $38.9k 0.02% Unchanged
72 INSIGNEO ADVISORY SERVICES, LLC 0.00% of their portfolio MIAMI, FL 27,00027.0k $25.2k $25.2k 0.00% New
73 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 23,00023.0k $21.2k $21.2k 0.00% New
74 K2 PRINCIPAL FUND, L.P. 1.08% of their portfolio TORONTO, A6 11,00011.0k $10.2m $10.2m 1.08% Added +2.0k +2,000
75 LAFFER TENGLER INVESTMENTS, INC. 0.11% of their portfolio Scottsdale, AZ 812812 $757.0k $757.0k 0.11% New
76 Boussard & Gavaudan Investment Management LLP 0.07% of their portfolio London, X0 800800 $730.5k $730.5k 0.07% New
77 ODDO BHF ASSET MANAGEMENT SAS 0.02% of their portfolio PARIS, I0 619619 $577.5k $577.5k 0.02% Unchanged