Vault-13

FIVERR INTL LTD FVRR 0 11.01.25

NOTE 11/0 · US DOMESTIC · CUSIP 33835LAA3

24 institutional holders -2 vs Q1 2025
25,510,00025.5m shares reported held*
$440.1mreported value*
1 new 6 added 3 reduced 3 sold out net sold ≈ $1.4m (+12.0m 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 ≈ $17.25.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0102030Q3 22: 28Q4 22: 30Q1 23: 29Q2 23: 26Q3 23: 26Q4 23: 28Q1 24: 26Q2 24: 27Q3 24: 26Q4 24: 26Q1 25: 26Q2 25: 2424Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202228
Q4 202230
Q1 202329
Q2 202326
Q3 202326
Q4 202328
Q1 202426
Q2 202427
Q3 202426
Q4 202426
Q1 202526
Q2 202524

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q3 23: 12 bought or addedQ3 23: 7 cut or sold outQ4 23: 10 bought or addedQ4 23: 7 cut or sold outQ4 23Q1 24: 8 bought or addedQ1 24: 10 cut or sold outQ2 24: 11 bought or addedQ2 24: 8 cut or sold outQ2 24Q3 24: 11 bought or addedQ3 24: 6 cut or sold outQ4 24: 10 bought or addedQ4 24: 4 cut or sold outQ4 24Q1 25: 7 bought or addedQ1 25: 5 cut or sold outQ2 25: 7 bought or addedQ2 25: 6 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023127
Q4 2023107
Q1 2024810
Q2 2024118
Q3 2024116
Q4 2024104
Q1 202575
Q2 202576

Biggest buyers

Radcliffe Capital Management, L.P. Added +65,000,000+65.0m
DeepCurrents Investment Group LLC Added +25,000,000+25.0m
COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS Added +9,020,000+9.0m
ABSOLUTE INVESTMENT ADVISERS, LLC Added +3,000,000+3.0m
OAKTREE CAPITAL MANAGEMENT LP Added +2,275,000+2.3m
PIPER SANDLER & CO. Added +1,750,000+1.8m
BRC Group Holdings, Inc. New +150,000+150.0k

Biggest sellers

Linden Advisors LP Sold out -99,401,000-99.4m
STEELHEAD PARTNERS LLC Reduced -3,250,000-3.2m
ADVENT CAPITAL MANAGEMENT /DE/ Sold out -2,070,000-2.1m
JPMORGAN CHASE & CO Reduced -1,849,000-1.8m
STATE STREET CORP Reduced -1,000,000-1.0m
SG Americas Securities, LLC Sold out -9,300-9.3k

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Radcliffe Capital Management, L.P. 7.48% of their portfolio BALA CYNWYD, PA 100,677,000100.7m $98.3m $98.3m 7.48% Added +65.0m +65,000,000
2 TENOR CAPITAL MANAGEMENT Co., L.P. 1.03% of their portfolio NEW YORK, NY 78,000,00078.0m $76.5m $76.5m 1.03% Unchanged
3 STEELHEAD PARTNERS LLC 2.47% of their portfolio SEATTLE, WA 50,000,00050.0m $49.0m $49.0m 2.47% Reduced -3.2m -3,250,000
4 Davidson Kempner Capital Management LP 0.68% of their portfolio New York, NY 46,000,00046.0m $44.9m $44.9m 0.68% Unchanged
5 DeepCurrents Investment Group LLC 1.55% of their portfolio NEW YORK, NY 43,158,00043.2m $42.3m $42.3m 1.55% Added +25.0m +25,000,000
6 Calamos Advisors LLC 0.13% of their portfolio NAPERVILLE, IL 30,000,00030.0m $29.4m $29.4m 0.13% Unchanged
7 Opti Capital Management, LP 1.25% of their portfolio New York, NY 22,476,00022.5m $22.0m $22.0m 1.25% Unchanged
8 ABSOLUTE INVESTMENT ADVISERS, LLC 1.57% of their portfolio ROSEMARY BEACH, FL 13,000,00013.0m $12.7m $12.7m 1.57% Added +3.0m +3,000,000
9 PIPER SANDLER & CO. 9.68% of their portfolio MINNEAPOLIS, MN 12,800,00012.8m $12.6m $12.6m 9.68% Added +1.8m +1,750,000
10 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.06% of their portfolio HARRISBURG, PA 12,510,00012.5m $12.2m $12.2m 0.06% Added +9.0m +9,020,000
11 FMR LLC 0.00% of their portfolio BOSTON, MA 10,000,00010.0m $9.8m $9.8m 0.00% Unchanged
12 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 8,500,0008.5m $8.3m $8.3m 0.00% Reduced -1.0m -1,000,000
13 PALISADE CAPITAL MANAGEMENT, LP 0.19% of their portfolio FORT LEE, NJ 6,904,0006.9m $6.7m $6.7m 0.19% Unchanged
14 OAKTREE CAPITAL MANAGEMENT LP 0.10% of their portfolio LOS ANGELES, CA 5,259,0005.3m $5.2m $5.2m 0.10% Added +2.3m +2,275,000
15 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 3,324,0003.3m $3.2m $3.2m 0.00% Reduced -1.8m -1,849,000
16 FLOSSBACH VON STORCH SE 0.01% of their portfolio COLOGNE, 2M 2,750,0002.8m $2.7m $2.7m 0.01% Unchanged
17 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 2,118,0002.1m $2.1m $2.1m 0.00% Unchanged
18 ONTARIO TEACHERS PENSION PLAN BOARD 0.02% of their portfolio Toronto, A6 1,000,0001.0m $977.1k $977.1k 0.02% Unchanged
19 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 602,000602.0k $587.6k $587.6k 0.00% Unchanged
20 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 500,000500.0k $488.0k $488.0k 0.00% Unchanged
21 BRC Group Holdings, Inc. 0.17% of their portfolio LOS ANGELES, CA 150,000150.0k $146.2k $146.2k 0.17% New
22 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 55,00055.0k $53.7k $53.7k 0.00% Unchanged
23 VIRTUS ADVISERS, LLC 0.01% of their portfolio HARTFORD, CT 20,00020.0k $19.5k $19.5k 0.01% Unchanged
24 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged