Vault-13

ETSY INC ETSY 0.125 09.01.27

NOTE 0.125% 9/0 · US DOMESTIC · CUSIP 29786AAL0

51 institutional holders -2 vs Q1 2025
10,653,00010.7m shares reported held*
$603.9mreported value*
4 new 14 added 10 reduced 6 sold out net sold ≈ $88.7m (+2.0m 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 ≈ $56.69.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 39Q4 22: 44Q1 23: 48Q2 23: 58Q3 23: 52Q4 23: 58Q1 24: 57Q2 24: 60Q3 24: 53Q4 24: 53Q1 25: 53Q2 25: 5151Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202239
Q4 202244
Q1 202348
Q2 202358
Q3 202352
Q4 202358
Q1 202457
Q2 202460
Q3 202453
Q4 202453
Q1 202553
Q2 202551

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 23: 19 bought or addedQ3 23: 28 cut or sold outQ4 23: 19 bought or addedQ4 23: 20 cut or sold outQ4 23Q1 24: 25 bought or addedQ1 24: 19 cut or sold outQ2 24: 21 bought or addedQ2 24: 20 cut or sold outQ2 24Q3 24: 10 bought or addedQ3 24: 25 cut or sold outQ4 24: 15 bought or addedQ4 24: 21 cut or sold outQ4 24Q1 25: 19 bought or addedQ1 25: 19 cut or sold outQ2 25: 18 bought or addedQ2 25: 16 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20231928
Q4 20231920
Q1 20242519
Q2 20242120
Q3 20241025
Q4 20241521
Q1 20251919
Q2 20251816

Biggest buyers

Verition Fund Management LLC Added +37,465,100+37.5m
Weiss Asset Management LP Added +36,897,000+36.9m
UBS Group AG Added +14,334,000+14.3m
D. E. Shaw & Co., Inc. New +14,000,000+14.0m
TENOR CAPITAL MANAGEMENT Co., L.P. Added +6,750,000+6.8m
MILLENNIUM MANAGEMENT LLC Added +3,500,000+3.5m
READYSTATE ASSET MANAGEMENT LP New +2,500,000+2.5m
STATE OF WISCONSIN INVESTMENT BOARD New +2,000,000+2.0m
CITIGROUP INC New +1,504,000+1.5m
BNP PARIBAS FINANCIAL MARKETS Added +1,011,000+1.0m

Biggest sellers

VOYA INVESTMENT MANAGEMENT LLC Reduced -112,650,000-112.7m
Calamos Advisors LLC Sold out -39,355,000-39.4m
CAMDEN ASSET MANAGEMENT L P /CA Sold out -8,000,000-8.0m
WOLVERINE ASSET MANAGEMENT LLC Sold out -7,752,000-7.8m
GOLDMAN SACHS GROUP INC Sold out -5,148,000-5.1m
KIM, LLC Reduced -4,000,000-4.0m
BANK OF AMERICA CORP /DE/ Reduced -3,430,000-3.4m
Opti Capital Management, LP Sold out -2,500,000-2.5m
Linden Advisors LP Reduced -2,500,000-2.5m
BlackRock, Inc. Reduced -625,000-625.0k

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Linden Advisors LP 0.88% of their portfolio New York, NY 160,328,000160.3m $143.5m $143.5m 0.88% Reduced -2.5m -2,500,000
2 VOYA INVESTMENT MANAGEMENT LLC 0.10% of their portfolio ATLANTA, GA 112,650,000112.7m $100.7m $100.7m 0.10% Reduced -112.7m -112,650,000
3 TENOR CAPITAL MANAGEMENT Co., L.P. 0.79% of their portfolio NEW YORK, NY 65,339,00065.3m $58.5m $58.5m 0.79% Added +6.8m +6,750,000
4 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 59,568,00059.6m $53.2m $53.2m 0.01% Unchanged
5 Weiss Asset Management LP 0.54% of their portfolio BOSTON, MA 38,397,00038.4m $34.4m $34.4m 0.54% Added +36.9m +36,897,000
6 Verition Fund Management LLC 0.19% of their portfolio GREENWICH, CT 37,500,00037.5m $33.5m $33.5m 0.19% Added +37.5m +37,465,100
7 ADVENT CAPITAL MANAGEMENT /DE/ 0.62% of their portfolio NEW YORK, NY 31,819,00031.8m $28.4m $28.4m 0.62% Added +150.0k +150,000
8 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 19,378,00019.4m $17.4m $17.4m 0.02% Added +3.5m +3,500,000
9 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 14,925,00014.9m $13.3m $13.3m 0.00% Unchanged
10 UBS Group AG 0.00% of their portfolio ZURICH, V8 14,339,00014.3m $12.8m $12.8m 0.00% Added +14.3m +14,334,000
11 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 14,000,00014.0m $12.5m $12.5m 0.01% New
12 LAZARD ASSET MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 12,629,00012.6m $11.3m $11.3m 0.02% Added +947.0k +947,000
13 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 12,450,00012.4m $11.1m $11.1m 0.00% Reduced -400.0k -400,000
14 Radcliffe Capital Management, L.P. 0.79% of their portfolio BALA CYNWYD, PA 11,600,00011.6m $10.3m $10.3m 0.79% Unchanged
15 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 8,278,0008.3m $7.4m $7.4m 0.00% Added +32.0k +32,000
16 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 6,885,0006.9m $6.2m $6.2m 0.00% Added +1.0m +1,011,000
17 NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio ALBANY, NY 6,333,0006.3m $5.6m $5.6m 0.01% Unchanged
18 BlackRock, Inc. 0.00% of their portfolio New York, NY 6,273,0006.3m $5.6m $5.6m 0.00% Reduced -625.0k -625,000
19 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 5,505,0005.5m $4.9m $4.9m 0.00% Added +5.0k +5,000
20 Universal- Beteiligungs- und Servicegesellschaft mbH 0.01% of their portfolio FRANKFURT AM MAIN, 2M 4,370,0004.4m $3.9m $3.9m 0.01% Added +200.0k +200,000
21 Man Group plc 0.01% of their portfolio LONDON, X0 3,470,0003.5m $3.1m $3.1m 0.01% Unchanged
22 EUBEL BRADY & SUTTMAN ASSET MANAGEMENT INC 0.34% of their portfolio Miamisburg, OH 3,000,0003.0m $2.7m $2.7m 0.34% Unchanged
23 TORONTO DOMINION BANK 0.01% of their portfolio TORONTO, ONTARIO, A6 2,654,0002.7m $2.4m $2.4m 0.01% Unchanged
24 Amundi 0.00% of their portfolio Paris, I0 2,500,0002.5m $2.2m $2.2m 0.00% Unchanged
25 READYSTATE ASSET MANAGEMENT LP 0.09% of their portfolio CHICAGO, IL 2,500,0002.5m $2.2m $2.2m 0.09% New
26 FMR LLC 0.00% of their portfolio BOSTON, MA 2,000,0002.0m $1.8m $1.8m 0.00% Unchanged
27 STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio MADISON, WI 2,000,0002.0m $1.8m $1.8m 0.00% New
28 KIM, LLC 0.19% of their portfolio WICHITA, KS 2,000,0002.0m $1.8m $1.8m 0.19% Reduced -4.0m -4,000,000
29 Cutler Capital Management, LLC 0.60% of their portfolio WORCESTER, MA 1,950,0001.9m $1.7m $1.7m 0.60% Reduced -30.0k -30,000
30 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 1,800,0001.8m $1.6m $1.6m 0.00% Unchanged
31 Sonora Investment Management Group, LLC 0.10% of their portfolio TUCSON, AZ 1,515,0001.5m $1.3m $1.3m 0.10% Reduced -40.0k -40,000
32 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 1,504,0001.5m $1.3m $1.3m 0.00% New
33 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,029,0001.0m $915.8k $915.8k 0.00% Reduced -3.4m -3,430,000
34 Erste Asset Management GmbH 0.01% of their portfolio VIENNA, C4 800,000800.0k $714.4k $714.4k 0.01% Added +800.0k +800,000
35 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.00% of their portfolio Paris, I0 800,000800.0k $709.0k $709.0k 0.00% Unchanged
36 AVIVA PLC 0.00% of their portfolio LONDON, X0 460,000460.0k $409.2k $409.2k 0.00% Unchanged
37 INGALLS & SNYDER LLC 0.01% of their portfolio NEW YORK, NY 380,000380.0k $339.0k $339.0k 0.01% Unchanged
38 SSI INVESTMENT MANAGEMENT LLC 0.02% of their portfolio Los Angeles, CA 375,000375.0k $333.8k $333.8k 0.02% Reduced -5.0k -5,000
39 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 326,000326.0k $290.1k $290.1k 0.00% Unchanged
40 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 320,000320.0k $284.0k $284.0k 0.00% Added +160.0k +160,000
41 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 272,000272.0k $243.4k $243.4k 0.00% Added +2.0k +2,000
42 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 202,000202.0k $180.8k $180.8k 0.00% Reduced -44.0k -44,000
43 Northwest & Ethical Investments L.P. 0.00% of their portfolio TORONTO, A6 120,000120.0k $106.8k $106.8k 0.00% Unchanged
44 Argent Trust Co 0.00% of their portfolio NASHVILLE, TN 60,00060.0k $53.4k $53.4k 0.00% Unchanged
45 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 51,00051.0k $45.4k $45.4k 0.00% Unchanged
46 GRAHAM CAPITAL WEALTH MANAGEMENT, LLC 0.02% of their portfolio WASHINGTON, DC 25,00025.0k $22.2k $22.2k 0.02% Unchanged
47 INSIGNEO ADVISORY SERVICES, LLC 0.00% of their portfolio MIAMI, FL 13,00013.0k $11.6k $11.6k 0.00% Unchanged
48 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 10,00010.0k $8.9k $8.9k 0.00% Unchanged
49 KESTRA PRIVATE WEALTH SERVICES, LLC 0.01% of their portfolio AUSTIN, TX 5,0005.0k $445.0k $445.0k 0.01% Unchanged
50 Alken Asset Management Ltd 0.47% of their portfolio LONDON, X0 300300 $266.0k $266.0k 0.47% Unchanged
51 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged