Vault-13

COPA HOLDINGS SA CPA 4.5 04.15.25

NOTE 4.500% 4/1 · US DOMESTIC · CUSIP 21720AAB8

22 institutional holders +0 vs Q1 2023
6,876,7506.9m shares reported held*
$776.0mreported value*
2 new 5 added 3 reduced 2 sold out net sold ≈ $28.4m (+963.3k 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 ≈ $112.84.

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0102030Q3 22: 21Q4 22: 24Q1 23: 22Q2 23: 2222Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202221
Q4 202224
Q1 202322
Q2 202322

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q4 22: 8 bought or addedQ4 22: 7 cut or sold outQ4 22Q1 23: 12 bought or addedQ1 23: 13 cut or sold outQ1 23Q2 23: 7 bought or addedQ2 23: 5 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 202287
Q1 20231213
Q2 202375

Biggest buyers

Polar Asset Management Partners Inc. Added +10,000,000+10.0m
Shaolin Capital Management LLC Added +2,500,000+2.5m
MIZUHO SECURITIES USA LLC Added +950,000+950.0k
STATE STREET CORP Added +800,000+800.0k
BANK OF AMERICA CORP /DE/ Added +100,000+100.0k
CITIGROUP INC New +75,000+75.0k
Boussard & Gavaudan Investment Management LLP New +15,750+15.8k

Biggest sellers

BANK OF MONTREAL /CAN/ Sold out -14,680,000-14.7m
WHITEBOX ADVISORS LLC Reduced -10,000,000-10.0m
CAPSTONE INVESTMENT ADVISORS, LLC Reduced -2,500,000-2.5m
SCHRODER INVESTMENT MANAGEMENT GROUP Reduced -75,000-75.0k
Maryland State Retirement & Pension System Sold out -2,467-2.5k

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Shaolin Capital Management LLC 16.32% of their portfolio Miami, FL 80,000,00080.0m $177.1m $177.1m 16.32% Added +2.5m +2,500,000
2 LAZARD ASSET MANAGEMENT LLC 0.19% of their portfolio NEW YORK, NY 69,312,00069.3m $153.4m $153.4m 0.19% Unchanged
3 TENOR CAPITAL MANAGEMENT Co., L.P. 2.02% of their portfolio NEW YORK, NY 43,500,00043.5m $96.7m $96.7m 2.02% Unchanged
4 WHITEBOX ADVISORS LLC 4.48% of their portfolio MINNEAPOLIS, MN 41,995,00042.0m $92.7m $92.7m 4.48% Reduced -10.0m -10,000,000
5 Polar Asset Management Partners Inc. 1.10% of their portfolio TORONTO, A6 25,000,00025.0m $55.3m $55.3m 1.10% Added +10.0m +10,000,000
6 CAPSTONE INVESTMENT ADVISORS, LLC 1.43% of their portfolio NEW YORK, NY 21,900,00021.9m $48.5m $48.5m 1.43% Reduced -2.5m -2,500,000
7 CITADEL ADVISORS LLC 0.04% of their portfolio MIAMI, FL 15,160,00015.2m $33.6m $33.6m 0.04% Unchanged
8 Alberta Investment Management Corp 0.26% of their portfolio EDMONTON, A0 12,000,00012.0m $26.7m $26.7m 0.26% Unchanged
9 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 8,050,0008.1m $17.9m $17.9m 0.00% Added +800.0k +800,000
10 MIZUHO SECURITIES USA LLC 0.43% of their portfolio NEW YORK, NY 5,861,0005.9m $12.9m $12.9m 0.43% Added +950.0k +950,000
11 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 4,291,0004.3m $9.5m $9.5m 0.00% Added +100.0k +100,000
12 Covalent Partners LLC 23.98% of their portfolio CONCORD, MA 3,000,0003.0m $6.6m $6.6m 23.98% Unchanged
13 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1,998,0002.0m $4.4m $4.4m 0.00% Unchanged
14 RBF Capital, LLC 0.14% of their portfolio RENO, NV 1,000,0001.0m $2.2m $2.2m 0.14% Unchanged
15 SCHRODER INVESTMENT MANAGEMENT GROUP 0.00% of their portfolio London, X0 925,000925.0k $2.0m $2.0m 0.00% Reduced -75.0k -75,000
16 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 317,000317.0k $699.4k $699.4k 0.00% Unchanged
17 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 150,000150.0k $332.2k $332.2k 0.00% Unchanged
18 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 150,000150.0k $321.4k $321.4k 0.00% Unchanged
19 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 97,00097.0k $214.8k $214.8k 0.00% Unchanged
20 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 75,00075.0k $165.6k $165.6k 0.00% New
21 Boussard & Gavaudan Investment Management LLP 3.32% of their portfolio London, X0 15,75015.8k $34.7m $34.7m 3.32% New
22 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged