Vault-13

FIVE9 INC FIVN 1 03.15.29

NOTE 1.000% 3/1 · US DOMESTIC · CUSIP 338307AF8

50 institutional holders +4 vs Q2 2025
18,775,00018.8m shares reported held*
$656.3mreported value*
11 new 13 added 18 reduced 6 sold out net bought ≈ $36.3m (+745.0k 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 ($2.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $35.08.

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q1 25: 53Q2 25: 46Q3 25: 5050Q1 25Q2 25Q3 25
Numbers
QuarterHolders
Q1 202553
Q2 202546
Q3 202550

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q2 25: 22 bought or addedQ2 25: 20 cut or sold outQ2 25Q3 25: 24 bought or addedQ3 25: 24 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q2 20252220
Q3 20252424

Biggest buyers

AQR Arbitrage LLC Added +32,837,000+32.8m
BNP PARIBAS FINANCIAL MARKETS Added +30,647,000+30.6m
Lodbrok Capital LLP New +29,654,000+29.7m
JPMORGAN CHASE & CO Added +21,415,000+21.4m
Verition Fund Management LLC Added +19,000,000+19.0m
Balyasny Asset Management L.P. Added +10,200,000+10.2m
Opti Capital Management, LP New +8,795,000+8.8m
OAKTREE CAPITAL MANAGEMENT LP New +7,783,000+7.8m
ADVENT CAPITAL MANAGEMENT /DE/ Added +7,773,000+7.8m
Radcliffe Capital Management, L.P. New +7,500,000+7.5m

Biggest sellers

Linden Advisors LP Reduced -51,125,000-51.1m
LAZARD ASSET MANAGEMENT LLC Reduced -26,542,000-26.5m
Wellesley Asset Management Reduced -17,636,000-17.6m
UBS Group AG Sold out -13,779,000-13.8m
FMR LLC Reduced -10,206,000-10.2m
BANK OF AMERICA CORP /DE/ Sold out -9,340,000-9.3m
WHITEBOX ADVISORS LLC Sold out -7,302,000-7.3m
ABSOLUTE INVESTMENT ADVISERS, LLC Sold out -7,000,000-7.0m
Amundi Reduced -5,959,000-6.0m
Parallax Volatility Advisers, L.P. Reduced -4,000,000-4.0m

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Linden Advisors LP 1.01% of their portfolio New York, NY 170,286,000170.3m $150.9m $150.9m 1.01% Reduced -51.1m -51,125,000
2 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 53,001,00053.0m $470.9k $470.9k 0.00% Reduced -26.5m -26,542,000
3 ADVENT CAPITAL MANAGEMENT /DE/ 1.00% of their portfolio NEW YORK, NY 50,345,00050.3m $44.7m $44.7m 1.00% Added +7.8m +7,773,000
4 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 50,216,00050.2m $44.5m $44.5m 0.00% Added +21.4m +21,415,000
5 AQR Arbitrage LLC 1.08% of their portfolio Greenwich, CT 47,745,00047.7m $42.4m $42.4m 1.08% Added +32.8m +32,837,000
6 Calamos Advisors LLC 0.16% of their portfolio NAPERVILLE, IL 44,596,00044.6m $39.6m $39.6m 0.16% Unchanged
7 TENOR CAPITAL MANAGEMENT Co., L.P. 0.47% of their portfolio NEW YORK, NY 40,000,00040.0m $35.5m $35.5m 0.47% Unchanged
8 BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio PARIS, I0 38,688,00038.7m $34.2m $34.2m 0.03% Added +30.6m +30,647,000
9 Lodbrok Capital LLP 34.12% of their portfolio LONDON, X0 29,654,00029.7m $26.3m $26.3m 34.12% New
10 Balyasny Asset Management L.P. 0.05% of their portfolio Chicago, IL 26,800,00026.8m $23.8m $23.8m 0.05% Added +10.2m +10,200,000
11 Verition Fund Management LLC 0.12% of their portfolio GREENWICH, CT 24,000,00024.0m $21.3m $21.3m 0.12% Added +19.0m +19,000,000
12 STEELHEAD PARTNERS LLC 1.25% of their portfolio SEATTLE, WA 23,500,00023.5m $20.8m $20.8m 1.25% Added +5.0m +5,000,000
13 CAMDEN ASSET MANAGEMENT L P /CA 0.42% of their portfolio Los Angeles, CA 21,550,00021.6m $19.0m $19.0m 0.42% Reduced -1.7m -1,695,000
14 SILVERBACK ASSET MANAGEMENT LLC 1.92% of their portfolio DURHAM, NC 16,780,00016.8m $14.8m $14.8m 1.92% Added +6.9m +6,874,000
15 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 14,850,00014.8m $13.2m $13.2m 0.00% Added +500.0k +500,000
16 MacKay Shields LLC 0.40% of their portfolio New York, NY 13,345,00013.3m $11.9m $11.9m 0.40% Added +375.0k +375,000
17 Walleye Capital LLC 0.09% of their portfolio NEW YORK, NY 13,000,00013.0m $11.6m $11.6m 0.09% Reduced -3.0m -3,000,000
18 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 11,441,00011.4m $10.1m $10.1m 0.00% Reduced -1.4m -1,428,000
19 Opti Capital Management, LP 0.49% of their portfolio New York, NY 8,795,0008.8m $7.8m $7.8m 0.49% New
20 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 8,505,0008.5m $7.5m $7.5m 0.00% Reduced -470.0k -470,000
21 OAKTREE CAPITAL MANAGEMENT LP 0.12% of their portfolio LOS ANGELES, CA 7,783,0007.8m $6.9m $6.9m 0.12% New
22 Radcliffe Capital Management, L.P. 0.41% of their portfolio BALA CYNWYD, PA 7,500,0007.5m $6.6m $6.6m 0.41% New
23 BlackRock, Inc. 0.00% of their portfolio New York, NY 7,147,0007.1m $6.3m $6.3m 0.00% Reduced -50.0k -50,000
24 Ewing Morris & Co. Investment Partners Ltd. 2.66% of their portfolio TORONTO, Z4 7,000,0007.0m $6.2m $6.2m 2.66% Added +4.0m +4,000,000
25 NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio ALBANY, NY 6,513,0006.5m $5.8m $5.8m 0.01% Reduced -1.2m -1,243,000
26 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio FRANKFURT AM MAIN, 2M 6,300,0006.3m $5.6m $5.6m 0.01% Reduced -750.0k -750,000
27 Russell Investments Group, Ltd. 0.01% of their portfolio Seattle, WA 6,205,0006.2m $5.5m $5.5m 0.01% New
28 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 5,405,0005.4m $4.8m $4.8m 0.00% New
29 Man Group plc 0.01% of their portfolio LONDON, X0 4,100,0004.1m $3.6m $3.6m 0.01% Unchanged
30 Universal- Beteiligungs- und Servicegesellschaft mbH 0.01% of their portfolio FRANKFURT AM MAIN, 2M 3,618,0003.6m $3.2m $3.2m 0.01% Reduced -750.0k -750,000
31 SSI INVESTMENT MANAGEMENT LLC 0.21% of their portfolio Los Angeles, CA 3,500,0003.5m $3.1m $3.1m 0.21% Unchanged
32 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 3,000,0003.0m $2.7m $2.7m 0.01% New
33 Wellesley Asset Management 0.26% of their portfolio PORTSMOUTH, NH 2,948,0002.9m $2.6m $2.6m 0.26% Reduced -17.6m -17,636,000
34 ZAZOVE ASSOCIATES LLC 0.17% of their portfolio INCLINE VILLAGE, NV 2,090,0002.1m $1.9m $1.9m 0.17% Unchanged
35 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.00% of their portfolio Paris, I0 2,000,0002.0m $1.8m $1.8m 0.00% New
36 FMR LLC 0.00% of their portfolio BOSTON, MA 1,834,0001.8m $1.6m $1.6m 0.00% Reduced -10.2m -10,206,000
37 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1,758,0001.8m $1.6m $1.6m 0.00% Reduced -242.0k -242,000
38 WESTWOOD HOLDINGS GROUP INC 0.01% of their portfolio DALLAS, TX 1,000,0001.0m $888.0k $888.0k 0.01% Reduced -1.5m -1,500,000
39 Parallax Volatility Advisers, L.P. 0.03% of their portfolio San Francisco, CA 1,000,0001.0m $883.5k $883.5k 0.03% Reduced -4.0m -4,000,000
40 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 360,000360.0k $319.0k $319.0k 0.00% New
41 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 157,000157.0k $138.7k $138.7k 0.00% Reduced -12.0k -12,000
42 Amundi 0.00% of their portfolio Paris, I0 150,000150.0k $132.1k $132.1k 0.00% Reduced -6.0m -5,959,000
43 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 105,000105.0k $92.8k $92.8k 0.00% Unchanged
44 Jefferies Financial Group Inc. 0.00% of their portfolio NEW YORK, NY 52,00052.0k $45.8k $45.8k 0.00% New
45 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 47,00047.0k $41.5k $41.5k 0.00% Unchanged
46 INSIGNEO ADVISORY SERVICES, LLC 0.00% of their portfolio MIAMI, FL 30,00030.0k $26.5k $26.5k 0.00% Added +6.0k +6,000
47 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 22,00022.0k $19.3k $19.3k 0.00% Added +5.0k +5,000
48 SG Americas Securities, LLC 0.01% of their portfolio NEW YORK, NY 18,07018.1k $1.6m $1.6m 0.01% Unchanged
49 Context Capital Management, LLC 0.14% of their portfolio LAJOLLA, CA 5,0005.0k $4.4m $4.4m 0.14% New
50 Erste Asset Management GmbH 0.00% of their portfolio VIENNA, C4 00 $0 $0 0.00% Reduced -900.0k -900,000