Vault-13

DROPBOX INC DBX 0 03.01.28

NOTE 3/0 · US DOMESTIC · CUSIP 26210CAD6

65 institutional holders +3 vs Q4 2022
39,584,00039.6m shares reported held*
$618.0mreported value*
5 new 19 added 18 reduced 3 sold out net bought ≈ $21.2m (+10.4m 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 ($2.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $15.68.

Trends to Q1 2023

Institutional holders

Managers reporting a position, each quarter

0255075Q3 22: 60Q4 22: 62Q1 23: 6565Q3 22Q4 22Q1 23
Numbers
QuarterHolders
Q3 202260
Q4 202262
Q1 202365

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 22: 24 bought or addedQ4 22: 16 cut or sold outQ4 22Q1 23: 24 bought or addedQ1 23: 21 cut or sold outQ1 23
Numbers
QuarterBought or addedCut or sold out
Q4 20222416
Q1 20232421

Biggest buyers

PUTNAM INVESTMENTS LLC Added +7,571,000+7.6m
BlackRock Inc. Added +5,315,000+5.3m
Segantii Capital Management Ltd Added +5,000,000+5.0m
BNP PARIBAS ASSET MANAGEMENT Holding S.A. Added +5,000,000+5.0m
SONA ASSET MANAGEMENT (US) LLC New +4,800,000+4.8m
BNP PARIBAS FINANCIAL MARKETS Added +4,448,000+4.4m
WELLS FARGO & COMPANY/MN Added +4,363,000+4.4m
FMR LLC Added +4,000,000+4.0m
RWC Asset Management LLP New +4,000,000+4.0m
Daiwa Securities Group Inc. Added +4,000,000+4.0m

Biggest sellers

ADVENT CAPITAL MANAGEMENT /DE/ Reduced -11,982,000-12.0m
SHENKMAN CAPITAL MANAGEMENT INC Reduced -4,512,000-4.5m
AQR Arbitrage LLC Reduced -4,475,000-4.5m
BANK OF MONTREAL /CAN/ Reduced -3,050,000-3.0m
STATE STREET CORP Reduced -2,945,000-2.9m
Jefferies Financial Group Inc. Reduced -2,761,000-2.8m
JANE STREET GROUP, LLC Reduced -2,356,000-2.4m
Verition Fund Management LLC Reduced -2,032,965-2.0m
DEUTSCHE BANK AG\ Reduced -2,000,000-2.0m
NEW YORK STATE COMMON RETIREMENT FUND Reduced -1,123,000-1.1m

Holders, Q1 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 85,875,00085.9m $74.6m $74.6m 0.01% Added +3.6m +3,555,000
2 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.02% of their portfolio NEW YORK, NY 56,300,00056.3m $48.9m $48.9m 0.02% Unchanged
3 DAVIDSON KEMPNER PARTNERS 1.17% of their portfolio New York, NY 53,967,00054.0m $46.9m $46.9m 1.17% First filing
4 Davidson Kempner Capital Management LP 0.98% of their portfolio New York, NY 53,967,00054.0m $46.9m $46.9m 0.98% Unchanged
5 ADVENT CAPITAL MANAGEMENT /DE/ 0.85% of their portfolio NEW YORK, NY 51,042,00051.0m $44.6m $44.6m 0.85% Reduced -12.0m -11,982,000
6 Linden Advisors LP 0.39% of their portfolio New York, NY 42,209,00042.2m $36.8m $36.8m 0.39% Added +825.0k +825,000
7 Calamos Advisors LLC 0.14% of their portfolio NAPERVILLE, IL 32,787,00032.8m $28.6m $28.6m 0.14% Unchanged
8 MacKay Shields LLC 0.59% of their portfolio New York, NY 24,531,00024.5m $21.4m $21.4m 0.59% Reduced -661.0k -661,000
9 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 20,500,00020.5m $17.8m $17.8m 0.01% Reduced -178.0k -178,000
10 SCHRODER INVESTMENT MANAGEMENT GROUP 0.02% of their portfolio London, X0 19,194,00019.2m $16.7m $16.7m 0.02% Reduced -104.0k -104,000
11 Daiwa Securities Group Inc. 0.12% of their portfolio CHIYODA-KU,TOKYO, M0 19,000,00019.0m $16.6m $16.6m 0.12% Added +4.0m +4,000,000
12 BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio PARIS, I0 18,335,00018.3m $15.9m $15.9m 0.03% Added +4.4m +4,448,000
13 III Capital Management 1.05% of their portfolio BOCA RATON, FL 17,636,00017.6m $15.4m $15.4m 1.05% Added +2.6m +2,600,000
14 Segantii Capital Management Ltd 0.59% of their portfolio HONG KONG, K3 15,000,00015.0m $13.1m $13.1m 0.59% Added +5.0m +5,000,000
15 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 14,635,00014.6m $12.7m $12.7m 0.00% Reduced -2.9m -2,945,000
16 SHENKMAN CAPITAL MANAGEMENT INC 0.87% of their portfolio NEW YORK, NY 13,212,00013.2m $11.5m $11.5m 0.87% Reduced -4.5m -4,512,000
17 BlackRock Inc. 0.00% of their portfolio New York, NY 12,335,00012.3m $10.7m $10.7m 0.00% Added +5.3m +5,315,000
18 MARSHALL WACE, LLP 0.02% of their portfolio LONDON, X0 10,000,00010.0m $8.7m $8.7m 0.02% Unchanged
19 Polar Capital Holdings Plc 0.06% of their portfolio London, X0 10,000,00010.0m $8.7m $8.7m 0.06% Unchanged
20 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 9,677,0009.7m $8.4m $8.4m 0.00% Reduced -2.0m -2,000,000
21 PUTNAM INVESTMENTS LLC 0.01% of their portfolio BOSTON, MA 9,574,0009.6m $8.3m $8.3m 0.01% Added +7.6m +7,571,000
22 SSI INVESTMENT MANAGEMENT LLC 0.52% of their portfolio Los Angeles, CA 8,510,0008.5m $7.4m $7.4m 0.52% Reduced -347.0k -347,000
23 FMR LLC 0.00% of their portfolio BOSTON, MA 8,000,0008.0m $6.9m $6.9m 0.00% Added +4.0m +4,000,000
24 AQR Arbitrage LLC 0.20% of their portfolio Greenwich, CT 7,572,0007.6m $6.6m $6.6m 0.20% Reduced -4.5m -4,475,000
25 DeepCurrents Investment Group LLC 0.26% of their portfolio NEW YORK, NY 7,000,0007.0m $6.1m $6.1m 0.26% Unchanged
26 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 6,910,0006.9m $6.0m $6.0m 0.00% Added +120.0k +120,000
27 PALISADE CAPITAL MANAGEMENT, LP 0.16% of their portfolio FORT LEE, NJ 6,754,0006.8m $5.9m $5.9m 0.16% Added +1.1m +1,087,000
28 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.02% of their portfolio Paris, I0 6,500,0006.5m $5.6m $5.6m 0.02% Added +5.0m +5,000,000
29 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 6,028,0006.0m $5.2m $5.2m 0.00% Added +660.0k +660,000
30 TORONTO DOMINION BANK 0.01% of their portfolio TORONTO, ONTARIO, A6 5,648,0005.6m $4.8m $4.8m 0.01% Added +1.5m +1,500,000
31 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 5,026,0005.0m $4.4m $4.4m 0.00% Added +4.4m +4,363,000
32 SONA ASSET MANAGEMENT (US) LLC 0.90% of their portfolio NEW YORK, NY 4,800,0004.8m $4.2m $4.2m 0.90% New
33 Man Group plc 0.01% of their portfolio LONDON, X0 4,750,0004.8m $4.1m $4.1m 0.01% Unchanged
34 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio FRANKFURT AM MAIN, 2M 4,750,0004.8m $4.1m $4.1m 0.01% Reduced -500.0k -500,000
35 RWC Asset Management LLP 0.11% of their portfolio LONDON, X0 4,000,0004.0m $3.5m $3.5m 0.11% New
36 CAMDEN ASSET MANAGEMENT L P /CA 0.11% of their portfolio Los Angeles, CA 3,950,0004.0m $3.4m $3.4m 0.11% Reduced -500.0k -500,000
37 JUPITER ASSET MANAGEMENT LTD 0.04% of their portfolio London, X0 3,250,0003.2m $2.8m $2.8m 0.04% Unchanged
38 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 2,574,0002.6m $2.2m $2.2m 0.00% Reduced -1.1m -1,123,000
39 Jefferies Financial Group Inc. 0.04% of their portfolio NEW YORK, NY 2,364,0002.4m $2.1m $2.1m 0.04% Reduced -2.8m -2,761,000
40 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 2,000,0002.0m $1.7m $1.7m 0.00% Reduced -3.0m -3,050,000
41 BLUEFIN CAPITAL MANAGEMENT, LLC 0.24% of their portfolio NEW YORK, NY 2,000,0002.0m $1.7m $1.7m 0.24% Unchanged
42 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 2,000,0002.0m $1.7m $1.7m 0.00% Added +500.0k +500,000
43 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 2,000,0002.0m $1.7m $1.7m 0.00% Reduced -2.4m -2,356,000
44 WESTWOOD HOLDINGS GROUP INC 0.01% of their portfolio DALLAS, TX 1,500,0001.5m $1.3m $1.3m 0.01% Unchanged
45 Quaero Capital S.A. 0.89% of their portfolio GENEVE, V8 1,400,0001.4m $1.2m $1.2m 0.89% Unchanged
46 Liberty Mutual Group Asset Management Inc. 0.27% of their portfolio Boston, MA 1,350,0001.4m $1.2m $1.2m 0.27% Unchanged
47 LBP AM SA 0.03% of their portfolio Paris, I0 1,350,0001.4m $1.2m $1.2m 0.03% Unchanged
48 Paloma Partners Management Co 0.23% of their portfolio GREENWICH, CT 1,200,0001.2m $1.0m $1.0m 0.23% New
49 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 1,178,0001.2m $996.7k $996.7k 0.00% New
50 BOOTHBAY FUND MANAGEMENT, LLC 0.02% of their portfolio NEW YORK, NY 1,000,0001.0m $870.8k $870.8k 0.02% New
51 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 633,000633.0k $549.7k $549.7k 0.00% Unchanged
52 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 600,000600.0k $521.0k $521.0k 0.00% Unchanged
53 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 580,000580.0k $503.8k $503.8k 0.00% Added +293.0k +293,000
54 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 550,000550.0k $476.9k $476.9k 0.00% Unchanged
55 Fore Capital, LLC 0.68% of their portfolio New York, NY 500,000500.0k $436.7k $436.7k 0.68% Unchanged
56 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 307,000307.0k $266.6k $266.6k 0.00% Added +300.0k +300,000
57 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 300,000300.0k $260.6k $260.6k 0.00% Reduced -200.0k -200,000
58 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 257,000257.0k $223.2k $223.2k 0.00% Unchanged
59 KBC Group NV 0.00% of their portfolio Brussels, C9 200,000200.0k $174.0k $174.0k 0.00% Unchanged
60 FIRST HAWAIIAN BANK 0.00% of their portfolio HONOLULU, HI 161,000161.0k $139.8k $139.8k 0.00% Reduced -22.0k -22,000
61 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 131,000131.0k $114.4k $114.4k 0.00% Unchanged
62 NOMURA HOLDINGS INC 0.02% of their portfolio TOKYO, M0 99,970100.0k $2.2m $2.2m 0.02% Added +14.8k +14,815
63 LAKE STREET ADVISORS GROUP, LLC 0.00% of their portfolio PORTSMOUTH, NH 31,00031.0k $27.0k $27.0k 0.00% Unchanged
64 Verition Fund Management LLC 0.03% of their portfolio GREENWICH, CT 2,0352.0k $1.8m $1.8m 0.03% Reduced -2.0m -2,032,965
65 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged