Vault-13

ENPHASE ENERGY INC ENPH 0 03.01.28

NOTE 3/0 · US DOMESTIC · CUSIP 29355AAK3

45 institutional holders +0 vs Q1 2025
10,773,31010.8m shares reported held*
$478.3mreported value*
2 new 13 added 13 reduced 2 sold out net sold ≈ $59.3m (-150 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 ($474.8k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $44.44.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 51Q4 22: 51Q1 23: 50Q2 23: 53Q3 23: 60Q4 23: 53Q1 24: 47Q2 24: 51Q3 24: 45Q4 24: 42Q1 25: 45Q2 25: 4545Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202251
Q4 202251
Q1 202350
Q2 202353
Q3 202360
Q4 202353
Q1 202447
Q2 202451
Q3 202445
Q4 202442
Q1 202545
Q2 202545

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 23: 30 bought or addedQ3 23: 28 cut or sold outQ4 23: 24 bought or addedQ4 23: 36 cut or sold outQ4 23Q1 24: 25 bought or addedQ1 24: 20 cut or sold outQ2 24: 22 bought or addedQ2 24: 18 cut or sold outQ2 24Q3 24: 17 bought or addedQ3 24: 19 cut or sold outQ4 24: 16 bought or addedQ4 24: 21 cut or sold outQ4 24Q1 25: 17 bought or addedQ1 25: 16 cut or sold outQ2 25: 15 bought or addedQ2 25: 15 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20233028
Q4 20232436
Q1 20242520
Q2 20242218
Q3 20241719
Q4 20241621
Q1 20251716
Q2 20251515

Biggest buyers

WOLVERINE ASSET MANAGEMENT LLC Added +11,431,000+11.4m
READYSTATE ASSET MANAGEMENT LP New +10,000,000+10.0m
TWO SIGMA INVESTMENTS, LP Added +9,500,000+9.5m
BlackRock, Inc. Added +5,830,000+5.8m
D. E. Shaw & Co., Inc. Added +5,514,000+5.5m
OAKTREE CAPITAL MANAGEMENT LP Added +2,915,000+2.9m
Radcliffe Capital Management, L.P. Added +2,500,000+2.5m
STEELHEAD PARTNERS LLC Added +2,200,000+2.2m
CAMDEN ASSET MANAGEMENT L P /CA Added +1,900,000+1.9m
Ionic Capital Management LLC Added +1,500,000+1.5m

Biggest sellers

VOYA INVESTMENT MANAGEMENT LLC Reduced -96,790,000-96.8m
Opti Capital Management, LP Sold out -13,861,000-13.9m
WELLINGTON MANAGEMENT GROUP LLP Reduced -4,473,000-4.5m
CITIGROUP INC Reduced -3,799,000-3.8m
SSI INVESTMENT MANAGEMENT LLC Reduced -1,409,000-1.4m
Linden Advisors LP Reduced -1,200,000-1.2m
Jefferies Financial Group Inc. Reduced -1,193,000-1.2m
JPMORGAN CHASE & CO Reduced -1,110,000-1.1m
JANE STREET GROUP, LLC Sold out -1,050,000-1.1m
BARCLAYS PLC Reduced -1,027,000-1.0m

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Linden Advisors LP 0.61% of their portfolio New York, NY 121,632,000121.6m $99.4m $99.4m 0.61% Reduced -1.2m -1,200,000
2 VOYA INVESTMENT MANAGEMENT LLC 0.07% of their portfolio ATLANTA, GA 91,960,00092.0m $74.8m $74.8m 0.07% Reduced -96.8m -96,790,000
3 STEELHEAD PARTNERS LLC 2.69% of their portfolio SEATTLE, WA 65,200,00065.2m $53.5m $53.5m 2.69% Added +2.2m +2,200,000
4 Radcliffe Capital Management, L.P. 2.64% of their portfolio BALA CYNWYD, PA 42,639,00042.6m $34.6m $34.6m 2.64% Added +2.5m +2,500,000
5 WOLVERINE ASSET MANAGEMENT LLC 0.35% of their portfolio CHICAGO, IL 25,561,00025.6m $20.9m $20.9m 0.35% Added +11.4m +11,431,000
6 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 22,607,00022.6m $18.5m $18.5m 0.00% Reduced -1.1m -1,110,000
7 CAMDEN ASSET MANAGEMENT L P /CA 0.42% of their portfolio Los Angeles, CA 22,279,00022.3m $18.1m $18.1m 0.42% Added +1.9m +1,900,000
8 ADVENT CAPITAL MANAGEMENT /DE/ 0.38% of their portfolio NEW YORK, NY 21,513,00021.5m $17.5m $17.5m 0.38% Unchanged
9 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 21,160,00021.2m $17.3m $17.3m 0.00% Reduced -4.5m -4,473,000
10 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 17,250,00017.2m $14.1m $14.1m 0.01% Added +5.5m +5,514,000
11 Calamos Advisors LLC 0.06% of their portfolio NAPERVILLE, IL 16,020,00016.0m $13.1m $13.1m 0.06% Unchanged
12 OAKTREE CAPITAL MANAGEMENT LP 0.24% of their portfolio LOS ANGELES, CA 14,755,00014.8m $12.0m $12.0m 0.24% Added +2.9m +2,915,000
13 TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio NEW YORK, NY 14,500,00014.5m $11.8m $11.8m 0.02% Added +9.5m +9,500,000
14 BlackRock, Inc. 0.00% of their portfolio New York, NY 11,724,00011.7m $9.5m $9.5m 0.00% Added +5.8m +5,830,000
15 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 11,270,00011.3m $9.2m $9.2m 0.00% Added +115.0k +115,000
16 READYSTATE ASSET MANAGEMENT LP 0.34% of their portfolio CHICAGO, IL 10,000,00010.0m $8.1m $8.1m 0.34% New
17 LORD, ABBETT & CO. LLC 0.02% of their portfolio JERSEY CITY, NJ 9,563,0009.6m $7.8m $7.8m 0.02% Reduced -209.0k -209,000
18 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio Toronto, A6 8,700,0008.7m $7.2m $7.2m 0.01% Reduced -1.0m -1,000,000
19 Amundi 0.00% of their portfolio Paris, I0 6,000,0006.0m $4.9m $4.9m 0.00% Unchanged
20 Ionic Capital Management LLC 5.06% of their portfolio NEW YORK, NY 5,500,0005.5m $4.5m $4.5m 5.06% Added +1.5m +1,500,000
21 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 4,527,0004.5m $3.7m $3.7m 0.00% Unchanged
22 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 3,613,0003.6m $2.9m $2.9m 0.00% Unchanged
23 Aequim Alternative Investments LP 0.09% of their portfolio MILL VALLEY, CA 3,500,0003.5m $2.8m $2.8m 0.09% Unchanged
24 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 3,008,0003.0m $2.5m $2.5m 0.00% Reduced -27.0k -27,000
25 OFI INVEST ASSET MANAGEMENT 0.04% of their portfolio ISSY LES MOULINEAUX, I0 2,600,0002.6m $1.8m $1.8m 0.04% Unchanged
26 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 2,008,0002.0m $1.6m $1.6m 0.00% Added +364.0k +364,000
27 PALISADE CAPITAL MANAGEMENT, LP 0.05% of their portfolio FORT LEE, NJ 2,000,0002.0m $1.6m $1.6m 0.05% Unchanged
28 Jefferies Financial Group Inc. 0.02% of their portfolio NEW YORK, NY 1,400,0001.4m $1.2m $1.2m 0.02% Reduced -1.2m -1,193,000
29 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 1,124,0001.1m $914.4k $914.4k 0.00% Unchanged
30 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 763,000763.0k $620.0k $620.0k 0.00% Unchanged
31 SSI INVESTMENT MANAGEMENT LLC 0.03% of their portfolio Los Angeles, CA 550,000550.0k $446.1k $446.1k 0.03% Reduced -1.4m -1,409,000
32 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 441,000441.0k $361.1k $361.1k 0.00% Added +369.0k +369,000
33 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 282,200282.2k $228.9k $228.9k 0.00% Added +145.0k +145,000
34 Argent Trust Co 0.00% of their portfolio NASHVILLE, TN 65,00065.0k $52.7k $52.7k 0.00% Unchanged
35 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 40,00040.0k $32.4k $32.4k 0.00% Reduced -3.8m -3,799,000
36 Fox Hill Wealth Management 0.01% of their portfolio DEDHAM, MA 30,00030.0k $24.6k $24.6k 0.01% Unchanged
37 Stonegate Investment Group, LLC 0.00% of their portfolio BIRMINGHAM, AL 25,00025.0k $20.3k $20.3k 0.00% Unchanged
38 Oaktree Fund Advisors, LLC 0.02% of their portfolio LOS ANGLES, CA 11,00011.0k $8.9k $8.9k 0.02% Reduced -5.0k -5,000
39 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 10,00010.0k $8.1k $8.1k 0.00% New
40 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 8,9909.0k $733.0k $733.0k 0.00% Unchanged
41 ROTHSCHILD INVESTMENT LLC 0.00% of their portfolio CHICAGO, IL 3,0003.0k $2.4k $2.4k 0.00% Unchanged
42 UBS Group AG 0.00% of their portfolio ZURICH, V8 3,0003.0k $2.4k $2.4k 0.00% Unchanged
43 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 1,0001.0k $819 $819 0.00% Reduced -1.0m -1,027,000
44 ODDO BHF ASSET MANAGEMENT SAS 0.01% of their portfolio PARIS, I0 310310 $253.8k $253.8k 0.01% Reduced -150 -150
45 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged