Vault-13

ETSY INC ETSY 0.125 09.01.27

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

53 institutional holders +2 vs Q2 2025
9,423,0009.4m shares reported held*
$597.7mreported value*
7 new 12 added 19 reduced 4 sold out net sold ≈ $13.5m (-1.2m 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 ≈ $63.43.

Trends to Q3 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: 51Q3 25: 5353Q3 22Q2 23Q1 24Q4 24Q3 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
Q3 202553

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 23: 19 bought or addedQ4 23: 20 cut or sold outQ1 24: 25 bought or addedQ1 24: 19 cut or sold outQ1 24Q2 24: 21 bought or addedQ2 24: 20 cut or sold outQ3 24: 10 bought or addedQ3 24: 25 cut or sold outQ3 24Q4 24: 15 bought or addedQ4 24: 21 cut or sold outQ1 25: 19 bought or addedQ1 25: 19 cut or sold outQ1 25Q2 25: 18 bought or addedQ2 25: 16 cut or sold outQ3 25: 19 bought or addedQ3 25: 23 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 20231920
Q1 20242519
Q2 20242120
Q3 20241025
Q4 20241521
Q1 20251919
Q2 20251816
Q3 20251923

Biggest buyers

D. E. Shaw & Co., Inc. Added +34,500,000+34.5m
Opti Capital Management, LP New +30,000,000+30.0m
WOLVERINE ASSET MANAGEMENT LLC New +20,021,000+20.0m
LAZARD ASSET MANAGEMENT LLC Added +9,669,000+9.7m
JPMORGAN CHASE & CO Added +8,280,000+8.3m
Daiwa Securities Group Inc. New +8,000,000+8.0m
TENOR CAPITAL MANAGEMENT Co., L.P. Added +4,300,000+4.3m
TORONTO DOMINION BANK Added +4,000,000+4.0m
AVIVA PLC Added +2,600,000+2.6m
Jefferies Financial Group Inc. New +1,974,000+2.0m

Biggest sellers

Linden Advisors LP Reduced -94,271,000-94.3m
Verition Fund Management LLC Reduced -12,500,000-12.5m
ADVENT CAPITAL MANAGEMENT /DE/ Reduced -5,038,000-5.0m
BNP PARIBAS FINANCIAL MARKETS Reduced -3,551,000-3.6m
MILLENNIUM MANAGEMENT LLC Reduced -3,500,000-3.5m
Universal- Beteiligungs- und Servicegesellschaft mbH Reduced -2,770,000-2.8m
Amundi Sold out -2,500,000-2.5m
NEW YORK STATE COMMON RETIREMENT FUND Reduced -2,100,000-2.1m
WELLINGTON MANAGEMENT GROUP LLP Reduced -1,570,000-1.6m
CITIGROUP INC Reduced -1,500,000-1.5m

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VOYA INVESTMENT MANAGEMENT LLC 0.10% of their portfolio ATLANTA, GA 112,650,000112.7m $104.0m $104.0m 0.10% Unchanged
2 TENOR CAPITAL MANAGEMENT Co., L.P. 0.85% of their portfolio NEW YORK, NY 69,639,00069.6m $64.3m $64.3m 0.85% Added +4.3m +4,300,000
3 Linden Advisors LP 0.41% of their portfolio New York, NY 66,057,00066.1m $60.9m $60.9m 0.41% Reduced -94.3m -94,271,000
4 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 59,568,00059.6m $55.0m $55.0m 0.01% Unchanged
5 D. E. Shaw & Co., Inc. 0.04% of their portfolio New York, NY 48,500,00048.5m $44.8m $44.8m 0.04% Added +34.5m +34,500,000
6 Weiss Asset Management LP 0.51% of their portfolio BOSTON, MA 38,397,00038.4m $35.5m $35.5m 0.51% Unchanged
7 Opti Capital Management, LP 1.73% of their portfolio New York, NY 30,000,00030.0m $27.7m $27.7m 1.73% New
8 ADVENT CAPITAL MANAGEMENT /DE/ 0.56% of their portfolio NEW YORK, NY 26,781,00026.8m $24.7m $24.7m 0.56% Reduced -5.0m -5,038,000
9 Verition Fund Management LLC 0.13% of their portfolio GREENWICH, CT 25,000,00025.0m $23.1m $23.1m 0.13% Reduced -12.5m -12,500,000
10 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 22,298,00022.3m $205.9k $205.9k 0.00% Added +9.7m +9,669,000
11 WOLVERINE ASSET MANAGEMENT LLC 0.27% of their portfolio CHICAGO, IL 20,021,00020.0m $18.4m $18.4m 0.27% New
12 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 16,558,00016.6m $15.3m $15.3m 0.00% Added +8.3m +8,280,000
13 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 15,878,00015.9m $14.7m $14.7m 0.01% Reduced -3.5m -3,500,000
14 UBS Group AG 0.00% of their portfolio ZURICH, V8 13,741,00013.7m $12.6m $12.6m 0.00% Reduced -598.0k -598,000
15 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 13,355,00013.4m $12.3m $12.3m 0.00% Reduced -1.6m -1,570,000
16 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 13,050,00013.1m $12.0m $12.0m 0.00% Added +600.0k +600,000
17 Radcliffe Capital Management, L.P. 0.66% of their portfolio BALA CYNWYD, PA 11,600,00011.6m $10.7m $10.7m 0.66% Unchanged
18 Daiwa Securities Group Inc. 0.02% of their portfolio CHIYODA-KU,TOKYO, M0 8,000,0008.0m $7.4m $7.4m 0.02% New
19 TORONTO DOMINION BANK 0.01% of their portfolio TORONTO, ONTARIO, A6 6,654,0006.7m $6.1m $6.1m 0.01% Added +4.0m +4,000,000
20 BlackRock, Inc. 0.00% of their portfolio New York, NY 6,148,0006.1m $5.7m $5.7m 0.00% Reduced -125.0k -125,000
21 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 5,505,0005.5m $5.1m $5.1m 0.00% Unchanged
22 NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio ALBANY, NY 4,233,0004.2m $3.9m $3.9m 0.01% Reduced -2.1m -2,100,000
23 Man Group plc 0.01% of their portfolio LONDON, X0 3,470,0003.5m $3.2m $3.2m 0.01% Unchanged
24 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 3,334,0003.3m $3.1m $3.1m 0.00% Reduced -3.6m -3,551,000
25 READYSTATE ASSET MANAGEMENT LP 0.14% of their portfolio CHICAGO, IL 3,180,0003.2m $2.9m $2.9m 0.14% Added +680.0k +680,000
26 AVIVA PLC 0.01% of their portfolio LONDON, X0 3,060,0003.1m $2.8m $2.8m 0.01% Added +2.6m +2,600,000
27 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 3,000,0003.0m $2.8m $2.8m 0.01% Added +1.0m +1,000,000
28 EUBEL BRADY & SUTTMAN ASSET MANAGEMENT INC 0.32% of their portfolio Miamisburg, OH 3,000,0003.0m $2.8m $2.8m 0.32% Unchanged
29 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 2,050,0002.0m $1.9m $1.9m 0.00% Added +250.0k +250,000
30 FMR LLC 0.00% of their portfolio BOSTON, MA 2,000,0002.0m $1.8m $1.8m 0.00% Unchanged
31 KIM, LLC 0.21% of their portfolio WICHITA, KS 2,000,0002.0m $1.8m $1.8m 0.21% Unchanged
32 Jefferies Financial Group Inc. 0.02% of their portfolio NEW YORK, NY 1,974,0002.0m $1.8m $1.8m 0.02% New
33 Cutler Capital Management, LLC 0.57% of their portfolio WORCESTER, MA 1,940,0001.9m $1.8m $1.8m 0.57% Reduced -10.0k -10,000
34 Universal- Beteiligungs- und Servicegesellschaft mbH 0.00% of their portfolio FRANKFURT AM MAIN, 2M 1,600,0001.6m $1.5m $1.5m 0.00% Reduced -2.8m -2,770,000
35 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 1,548,0001.5m $1.4m $1.4m 0.00% New
36 Sonora Investment Management Group, LLC 0.09% of their portfolio TUCSON, AZ 1,320,0001.3m $1.2m $1.2m 0.09% Reduced -195.0k -195,000
37 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.00% of their portfolio Paris, I0 800,000800.0k $738.0k $738.0k 0.00% Unchanged
38 INGALLS & SNYDER LLC 0.01% of their portfolio NEW YORK, NY 405,000405.0k $374.0k $374.0k 0.01% Added +25.0k +25,000
39 SSI INVESTMENT MANAGEMENT LLC 0.02% of their portfolio Los Angeles, CA 321,000321.0k $295.2k $295.2k 0.02% Reduced -54.0k -54,000
40 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 308,000308.0k $284.1k $284.1k 0.00% Added +106.0k +106,000
41 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 256,000256.0k $235.5k $235.5k 0.00% Reduced -70.0k -70,000
42 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 195,000195.0k $179.4k $179.4k 0.00% Reduced -834.0k -834,000
43 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 160,000160.0k $148.0k $148.0k 0.00% Reduced -160.0k -160,000
44 INCOME RESEARCH & MANAGEMENT 0.03% of their portfolio Boston, MA 70,00070.0k $64.4k $64.4k 0.03% New
45 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 51,00051.0k $46.9k $46.9k 0.00% Unchanged
46 GRAHAM CAPITAL WEALTH MANAGEMENT, LLC 0.02% of their portfolio WASHINGTON, DC 25,00025.0k $23.0k $23.0k 0.02% Unchanged
47 CSS LLC/IL 0.00% of their portfolio CHICAGO, IL 14,00014.0k $12.9k $12.9k 0.00% New
48 INSIGNEO ADVISORY SERVICES, LLC 0.00% of their portfolio MIAMI, FL 13,00013.0k $12.0k $12.0k 0.00% Unchanged
49 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 10,00010.0k $9.2k $9.2k 0.00% Unchanged
50 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 4,0004.0k $3.7k $3.7k 0.00% Reduced -1.5m -1,500,000
51 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 1,0001.0k $922 $922 0.00% Reduced -271.0k -271,000
52 Alken Asset Management Ltd 0.01% of their portfolio LONDON, X0 300300 $276 $276 0.01% Unchanged
53 Erste Asset Management GmbH 0.00% of their portfolio VIENNA, C4 00 $0 $0 0.00% Reduced -800.0k -800,000