ETSY INC ETSY 0.125 10.01.26

NOTE 0.125%10/0 · US DOMESTIC · CUSIP 29786AAJ5

48 institutional holders -4 vs Q1 2026

33,694,50033.7m shares reported held*

$622.7mreported value*

13 new 12 added 10 reduced 18 sold out net bought ≈ $10.5m (+32.8m 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 ≈ $18.48.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

Numbers

Quarter	Holders
Q3 2022	61
Q4 2022	60
Q1 2023	64
Q2 2023	67
Q3 2023	68
Q4 2023	72
Q1 2024	71
Q2 2024	68
Q3 2024	62
Q4 2024	59
Q1 2025	59
Q2 2025	59
Q3 2025	51
Q4 2025	51
Q1 2026	52
Q2 2026	48

Buyers vs sellers

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

Bought or addedCut or sold out

Numbers

Quarter	Bought or added	Cut or sold out
Q3 2024	24	41
Q4 2024	21	26
Q1 2025	19	19
Q2 2025	17	20
Q3 2025	19	32
Q4 2025	20	25
Q1 2026	17	21
Q2 2026	25	28

Biggest buyers

D. E. Shaw & Co., Inc.	Added	+35,000,000+35.0m
Ovata Capital Management Ltd	New	+33,000,000+33.0m
HIGHBRIDGE CAPITAL MANAGEMENT LLC	New	+31,500,000+31.5m
Aequim Alternative Investments LP	Added	+17,500,000+17.5m
MacKay Shields LLC	Added	+17,150,000+17.1m
SUSQUEHANNA ADVISORS GROUP, INC.	New	+16,000,000+16.0m
Walleye Capital LLC	New	+15,000,000+15.0m
Polar Capital Holdings Plc	New	+14,000,000+14.0m
SHENKMAN CAPITAL MANAGEMENT INC	New	+11,453,000+11.5m
TORONTO DOMINION BANK	Added	+10,087,000+10.1m

Biggest sellers

SONA ASSET MANAGEMENT (US) LLC	Reduced	-67,000,000-67.0m
MOORE CAPITAL MANAGEMENT, LP	Sold out	-46,900,000-46.9m
SOROS FUND MANAGEMENT LLC	Sold out	-37,500,000-37.5m
Opti Capital Management, LP	Sold out	-22,251,000-22.3m
TENOR CAPITAL MANAGEMENT Co., L.P.	Reduced	-8,265,000-8.3m
JPMORGAN CHASE & CO	Sold out	-8,140,000-8.1m
ADVENT CAPITAL MANAGEMENT /DE/	Sold out	-7,000,000-7.0m
PALISADE CAPITAL MANAGEMENT, LP	Sold out	-3,388,000-3.4m
CSS LLC/IL	Sold out	-3,083,000-3.1m
ROYAL BANK OF CANADA	Reduced	-3,010,000-3.0m

Holders, Q2 2026

#	Manager	Location	Shares	Value	% of their portfolio	Change	Shares change
1	D. E. Shaw & Co., Inc. 0.08% of their portfolio	New York, NY	121,804,000121.8m $124.0m	$124.0m	0.08%	Added +35.0m	+35,000,000
2	Aequim Alternative Investments LP 1.55% of their portfolio	MILL VALLEY, CA	97,500,00097.5m $99.5m	$99.5m	1.55%	Added +17.5m	+17,500,000
3	DeepCurrents Investment Group LLC 1.75% of their portfolio	NEW YORK, NY	50,248,00050.2m $51.1m	$51.1m	1.75%	Added +9.3m	+9,300,000
4	MacKay Shields LLC 1.70% of their portfolio	New York, NY	49,886,00049.9m $50.9m	$50.9m	1.70%	Added +17.1m	+17,150,000
5	Ovata Capital Management Ltd 2.53% of their portfolio	HONG KONG, K3	33,000,00033.0m $33.6m	$33.6m	2.53%	New
6	HIGHBRIDGE CAPITAL MANAGEMENT LLC 1.11% of their portfolio	NEW YORK, NY	31,500,00031.5m $32.6m	$32.6m	1.11%	New
7	SONA ASSET MANAGEMENT (US) LLC 0.77% of their portfolio	NEW YORK, NY	20,222,00020.2m $20.6m	$20.6m	0.77%	Reduced -67.0m	-67,000,000
8	Calamos Advisors LLC 0.07% of their portfolio	NAPERVILLE, IL	20,000,00020.0m $20.4m	$20.4m	0.07%	Unchanged
9	TENOR CAPITAL MANAGEMENT Co., L.P. 0.29% of their portfolio	NEW YORK, NY	20,000,00020.0m $20.4m	$20.4m	0.29%	Reduced -8.3m	-8,265,000
10	STATE STREET CORP 0.00% of their portfolio	BOSTON, MA	16,330,00016.3m $16.6m	$16.6m	0.00%	Added +3.3m	+3,300,000
11	TORONTO DOMINION BANK 0.03% of their portfolio	TORONTO, ONTARIO, A6	16,090,00016.1m $16.3m	$16.3m	0.03%	Added +10.1m	+10,087,000
12	SUSQUEHANNA ADVISORS GROUP, INC. 0.00% of their portfolio	BALA CYNWYD, PA	16,000,00016.0m $162.2k	$162.2k	0.00%	New
13	Walleye Capital LLC 0.07% of their portfolio	NEW YORK, NY	15,000,00015.0m $15.3m	$15.3m	0.07%	New
14	Polar Capital Holdings Plc 0.04% of their portfolio	London, X0	14,000,00014.0m $14.4m	$14.4m	0.04%	New
15	SHENKMAN CAPITAL MANAGEMENT INC 1.66% of their portfolio	NEW YORK, NY	11,453,00011.5m $11.9m	$11.9m	1.66%	New
16	BlackRock, Inc. 0.00% of their portfolio	New York, NY	10,336,00010.3m $10.5m	$10.5m	0.00%	Added +1.2m	+1,250,000
17	GOLDMAN SACHS GROUP INC 0.00% of their portfolio	NEW YORK, NY	10,305,00010.3m $10.5m	$10.5m	0.00%	Added +8.5m	+8,500,000
18	Magnetar Financial LLC 0.09% of their portfolio	EVANSTON, IL	10,000,00010.0m $10.2m	$10.2m	0.09%	New
19	DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio	FRANKFURT AM MAIN, 2M	8,000,0008.0m $8.1m	$8.1m	0.01%	Added +1.0m	+1,000,000
20	FMR LLC 0.00% of their portfolio	BOSTON, MA	7,437,0007.4m $7.6m	$7.6m	0.00%	Reduced -65.0k	-65,000
21	ROYAL BANK OF CANADA 0.00% of their portfolio	TORONTO, A6	5,637,0005.6m $5.7m	$5.7m	0.00%	Reduced -3.0m	-3,010,000
22	BARCLAYS PLC 0.00% of their portfolio	LONDON, X0	5,163,0005.2m $5.2m	$5.2m	0.00%	Reduced -796.0k	-796,000
23	KIM, LLC 0.70% of their portfolio	WICHITA, KS	5,000,0005.0m $5.2m	$5.2m	0.70%	New
24	RWC Asset Management LLP 0.18% of their portfolio	LONDON, X0	4,526,0004.5m $4.6m	$4.6m	0.18%	Added +3.4m	+3,356,000
25	Amundi 0.00% of their portfolio	Paris, I0	3,400,0003.4m $3.5m	$3.5m	0.00%	Unchanged
26	Lombard Odier Asset Management (Europe) Ltd 0.06% of their portfolio	LONDON, X0	1,438,0001.4m $1.5m	$1.5m	0.06%	Unchanged
27	MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio	Toronto, A6	1,250,0001.2m $1.3m	$1.3m	0.00%	Unchanged
28	BANK OF AMERICA CORP /DE/ 0.00% of their portfolio	CHARLOTTE, NC	886,000886.0k $901.7k	$901.7k	0.00%	Reduced -2.0m	-2,016,000
29	WELLS FARGO & COMPANY/MN 0.00% of their portfolio	SAN FRANCISCO, CA	879,000879.0k $890.0k	$890.0k	0.00%	Reduced -1.5m	-1,508,000
30	SEI INVESTMENTS CO 0.00% of their portfolio	OAKS, PA	550,000550.0k $559.7k	$559.7k	0.00%	Added +258.0k	+258,000
31	Universal- Beteiligungs- und Servicegesellschaft mbH 0.00% of their portfolio	FRANKFURT AM MAIN, 2M	500,000500.0k $510.0k	$510.0k	0.00%	Unchanged
32	UBS Group AG 0.00% of their portfolio	ZURICH, V8	449,000449.0k $456.9k	$456.9k	0.00%	Added +426.3k	+426,330
33	CITIGROUP INC 0.00% of their portfolio	NEW YORK, NY	430,000430.0k $437.6k	$437.6k	0.00%	Reduced -156.0k	-156,000
34	Axxion S.A. 0.03% of their portfolio	GREVENMACHER, N4	400,000400.0k $464.8k	$464.8k	0.03%	First filing
35	INGALLS & SNYDER LLC 0.01% of their portfolio	NEW YORK, NY	381,000381.0k $388.0k	$388.0k	0.01%	Reduced -5.0k	-5,000
36	Man Group plc 0.00% of their portfolio	LONDON, X0	100,000100.0k $101.1k	$101.1k	0.00%	Unchanged
37	OPPENHEIMER ASSET MANAGEMENT INC. 0.00% of their portfolio	NEW YORK, NY	93,00093.0k $94.6k	$94.6k	0.00%	Reduced -3.0k	-3,000
38	BANK OF MONTREAL /CAN/ 0.00% of their portfolio	TORONTO, A6	60,00060.0k $60.8k	$60.8k	0.00%	Unchanged
39	STEPHENS INC /AR/ 0.00% of their portfolio	LITTLE ROCK, AR	28,00028.0k $28.5k	$28.5k	0.00%	Unchanged
40	Jefferies Financial Group Inc. 0.00% of their portfolio	NEW YORK, NY	24,00024.0k $24.6k	$24.6k	0.00%	New
41	NATIXIS 0.01% of their portfolio	PARIS, I0	22,50022.5k $2.5m	$2.5m	0.01%	New
42	Squarepoint Ops LLC 0.02% of their portfolio	NEW YORK, NY	12,50012.5k $12.8m	$12.8m	0.02%	New
43	RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio	ST. PETERSBURG, FL	10,00010.0k $10.2k	$10.2k	0.00%	New
44	US BANCORP \DE\ 0.00% of their portfolio	MINNEAPOLIS, MN	3,0003.0k $3.1k	$3.1k	0.00%	Unchanged
45	MORGAN STANLEY 0.00% of their portfolio	NEW YORK, NY	2,0002.0k $2.0k	$2.0k	0.00%	Unchanged
46	Steward Partners Investment Advisory, LLC 0.00% of their portfolio	STAMFORD, CT	2,0002.0k $2.0k	$2.0k	0.00%	Unchanged
47	JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio	DES PERES, MO	1,0001.0k $1.0k	$1.0k	0.00%	Unchanged
48	Candriam S.C.A. 0.00% of their portfolio	STRASSEN, N4	1,0001.0k $1.0m	$1.0m	0.00%	New