Vault-13

ETSY INC ETSY 0.125 09.01.27

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

52 institutional holders -1 vs Q3 2025
7,393,0007.4m shares reported held*
$808.6mreported value*
4 new 11 added 15 reduced 5 sold out net sold ≈ $21.9m (-710.0k 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 ≈ $109.37.

Trends to Q4 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: 53Q4 25: 5252Q3 22Q2 23Q1 24Q4 24Q4 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
Q4 202552

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q1 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 25Q3 25: 19 bought or addedQ3 25: 23 cut or sold outQ4 25: 15 bought or addedQ4 25: 20 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20242519
Q2 20242120
Q3 20241025
Q4 20241521
Q1 20251919
Q2 20251816
Q3 20251923
Q4 20251520

Biggest buyers

WOLVERINE ASSET MANAGEMENT LLC Added +18,359,000+18.4m
Weiss Asset Management LP Added +14,613,000+14.6m
D. E. Shaw & Co., Inc. Added +13,750,000+13.8m
LAZARD ASSET MANAGEMENT LLC Added +9,935,000+9.9m
Context Capital Management, LLC New +3,750,000+3.8m
Amundi New +2,500,000+2.5m
Lombard Odier Asset Management (Europe) Ltd New +2,500,000+2.5m
TORONTO DOMINION BANK Added +2,250,000+2.2m
BlackRock, Inc. Added +2,100,000+2.1m
CITIGROUP INC Added +1,499,000+1.5m

Biggest sellers

Linden Advisors LP Reduced -20,075,000-20.1m
FRANKLIN RESOURCES INC Reduced -15,000,000-15.0m
VOYA INVESTMENT MANAGEMENT LLC Reduced -10,000,000-10.0m
UBS Group AG Reduced -9,676,000-9.7m
Radcliffe Capital Management, L.P. Reduced -7,575,000-7.6m
BNP PARIBAS FINANCIAL MARKETS Sold out -3,334,000-3.3m
READYSTATE ASSET MANAGEMENT LP Sold out -3,180,000-3.2m
JPMORGAN CHASE & CO Reduced -3,101,000-3.1m
Daiwa Securities Group Inc. Reduced -3,000,000-3.0m
WELLINGTON MANAGEMENT GROUP LLP Reduced -2,313,000-2.3m

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VOYA INVESTMENT MANAGEMENT LLC 0.09% of their portfolio ATLANTA, GA 102,650,000102.7m $95.2m $95.2m 0.09% Reduced -10.0m -10,000,000
2 TENOR CAPITAL MANAGEMENT Co., L.P. 0.91% of their portfolio NEW YORK, NY 69,639,00069.6m $64.7m $64.7m 0.91% Unchanged
3 D. E. Shaw & Co., Inc. 0.04% of their portfolio New York, NY 62,250,00062.2m $57.8m $57.8m 0.04% Added +13.8m +13,750,000
4 Weiss Asset Management LP 0.70% of their portfolio BOSTON, MA 53,010,00053.0m $49.2m $49.2m 0.70% Added +14.6m +14,613,000
5 Linden Advisors LP 0.26% of their portfolio New York, NY 45,982,00046.0m $42.7m $42.7m 0.26% Reduced -20.1m -20,075,000
6 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 44,568,00044.6m $41.3m $41.3m 0.01% Reduced -15.0m -15,000,000
7 WOLVERINE ASSET MANAGEMENT LLC 0.51% of their portfolio CHICAGO, IL 38,380,00038.4m $35.6m $35.6m 0.51% Added +18.4m +18,359,000
8 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 32,233,00032.2m $298.9k $298.9k 0.00% Added +9.9m +9,935,000
9 Opti Capital Management, LP 2.03% of their portfolio New York, NY 30,000,00030.0m $27.8m $27.8m 2.03% Unchanged
10 ADVENT CAPITAL MANAGEMENT /DE/ 0.53% of their portfolio NEW YORK, NY 24,534,00024.5m $22.8m $22.8m 0.53% Reduced -2.2m -2,247,000
11 Verition Fund Management LLC 0.12% of their portfolio GREENWICH, CT 23,500,00023.5m $21.8m $21.8m 0.12% Reduced -1.5m -1,500,000
12 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 15,878,00015.9m $14.7m $14.7m 0.01% Unchanged
13 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 13,457,00013.5m $12.5m $12.5m 0.00% Reduced -3.1m -3,101,000
14 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 13,050,00013.1m $12.1m $12.1m 0.00% Unchanged
15 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 11,042,00011.0m $10.2m $10.2m 0.00% Reduced -2.3m -2,313,000
16 TORONTO DOMINION BANK 0.01% of their portfolio TORONTO, ONTARIO, A6 8,904,0008.9m $8.2m $8.2m 0.01% Added +2.2m +2,250,000
17 BlackRock, Inc. 0.00% of their portfolio New York, NY 8,248,0008.2m $7.6m $7.6m 0.00% Added +2.1m +2,100,000
18 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 5,605,0005.6m $5.2m $5.2m 0.00% Added +100.0k +100,000
19 Daiwa Securities Group Inc. 0.02% of their portfolio CHIYODA-KU,TOKYO, M0 5,000,0005.0m $4.6m $4.6m 0.02% Reduced -3.0m -3,000,000
20 UBS Group AG 0.00% of their portfolio ZURICH, V8 4,065,0004.1m $3.8m $3.8m 0.00% Reduced -9.7m -9,676,000
21 Radcliffe Capital Management, L.P. 0.20% of their portfolio BALA CYNWYD, PA 4,025,0004.0m $3.7m $3.7m 0.20% Reduced -7.6m -7,575,000
22 Context Capital Management, LLC 0.09% of their portfolio LAJOLLA, CA 3,750,0003.8m $3.5m $3.5m 0.09% New
23 Man Group plc 0.01% of their portfolio LONDON, X0 3,470,0003.5m $3.2m $3.2m 0.01% Unchanged
24 AVIVA PLC 0.00% of their portfolio LONDON, X0 3,060,0003.1m $2.8m $2.8m 0.00% Unchanged
25 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 3,000,0003.0m $2.8m $2.8m 0.01% Unchanged
26 EUBEL BRADY & SUTTMAN ASSET MANAGEMENT INC 0.31% of their portfolio Miamisburg, OH 3,000,0003.0m $2.8m $2.8m 0.31% Unchanged
27 Ares Systematic Credit Ltd 1.96% of their portfolio LONDON, X0 2,600,0002.6m $2.4m $2.4m 1.96% First filing
28 Amundi 0.06% of their portfolio Paris, I0 2,500,0002.5m $230.9m $230.9m 0.06% New
29 Lombard Odier Asset Management (Europe) Ltd 0.12% of their portfolio LONDON, X0 2,500,0002.5m $2.3m $2.3m 0.12% New
30 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 2,108,0002.1m $1.9m $1.9m 0.00% Reduced -2.1m -2,125,000
31 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% Unchanged
32 FMR LLC 0.00% of their portfolio BOSTON, MA 2,000,0002.0m $1.8m $1.8m 0.00% Unchanged
33 KIM, LLC 0.21% of their portfolio WICHITA, KS 2,000,0002.0m $1.9m $1.9m 0.21% Unchanged
34 Cutler Capital Management, LLC 0.53% of their portfolio WORCESTER, MA 1,905,0001.9m $1.8m $1.8m 0.53% Reduced -35.0k -35,000
35 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 1,548,0001.5m $1.4m $1.4m 0.00% Unchanged
36 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 1,503,0001.5m $1.4m $1.4m 0.00% Added +1.5m +1,499,000
37 Focus Partners Wealth 0.00% of their portfolio ST LOUIS, MO 1,260,0001.3m $1.2m $1.2m 0.00% New
38 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.00% of their portfolio Paris, I0 800,000800.0k $738.0k $738.0k 0.00% Unchanged
39 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 617,000617.0k $569.8k $569.8k 0.00% Added +422.0k +422,000
40 INGALLS & SNYDER LLC 0.01% of their portfolio NEW YORK, NY 380,000380.0k $352.0k $352.0k 0.01% Reduced -25.0k -25,000
41 SSI INVESTMENT MANAGEMENT LLC 0.02% of their portfolio Los Angeles, CA 278,000278.0k $256.7k $256.7k 0.02% Reduced -43.0k -43,000
42 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 256,000256.0k $236.4k $236.4k 0.00% Unchanged
43 INCOME RESEARCH & MANAGEMENT 0.11% of their portfolio Boston, MA 225,000225.0k $207.8k $207.8k 0.11% Added +155.0k +155,000
44 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 160,000160.0k $148.0k $148.0k 0.00% Unchanged
45 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 51,00051.0k $47.1k $47.1k 0.00% Unchanged
46 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 45,00045.0k $41.8k $41.8k 0.00% Reduced -263.0k -263,000
47 GRAHAM CAPITAL WEALTH MANAGEMENT, LLC 0.02% of their portfolio WASHINGTON, DC 25,00025.0k $23.1k $23.1k 0.02% Unchanged
48 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 16,00016.0k $14.8k $14.8k 0.00% Added +6.0k +6,000
49 CSS LLC/IL 0.00% of their portfolio CHICAGO, IL 14,00014.0k $13.0k $13.0k 0.00% Unchanged
50 INSIGNEO ADVISORY SERVICES, LLC 0.00% of their portfolio MIAMI, FL 13,00013.0k $12.0k $12.0k 0.00% Unchanged
51 Alken Asset Management Ltd 0.00% of their portfolio LONDON, X0 300300 $277 $277 0.00% Unchanged
52 Erste Asset Management GmbH 0.00% of their portfolio VIENNA, C4 00 $0 $0 0.00% Unchanged