Vault-13

GRANITE CONSTR INC GVA 3.75 05.15.28

NOTE 3.750% 5/1 · US DOMESTIC · CUSIP 387328AD9

30 institutional holders -1 vs Q3 2025
6,090,0116.1m shares reported held*
$925.8mreported value*
5 new 10 added 6 reduced 6 sold out net bought ≈ $8.2m (+6.0m 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 ≈ $152.03.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q2 24: 33Q3 24: 42Q4 24: 31Q1 25: 34Q2 25: 33Q3 25: 31Q4 25: 3030Q2 24Q4 24Q2 25Q4 25
Numbers
QuarterHolders
Q2 202433
Q3 202442
Q4 202431
Q1 202534
Q2 202533
Q3 202531
Q4 202530

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 24: 18 bought or addedQ3 24: 20 cut or sold outQ3 24Q4 24: 13 bought or addedQ4 24: 22 cut or sold outQ4 24Q1 25: 12 bought or addedQ1 25: 14 cut or sold outQ1 25Q2 25: 12 bought or addedQ2 25: 15 cut or sold outQ2 25Q3 25: 15 bought or addedQ3 25: 17 cut or sold outQ3 25Q4 25: 15 bought or addedQ4 25: 12 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q3 20241820
Q4 20241322
Q1 20251214
Q2 20251215
Q3 20251517
Q4 20251512

Biggest buyers

MILLENNIUM MANAGEMENT LLC New +35,000,000+35.0m
BNP PARIBAS FINANCIAL MARKETS New +15,690,000+15.7m
CITADEL ADVISORS LLC Added +9,119,000+9.1m
LAZARD ASSET MANAGEMENT LLC Added +7,520,000+7.5m
PICTON MAHONEY ASSET MANAGEMENT New +6,000,000+6.0m
LORD, ABBETT & CO. LLC Added +3,492,000+3.5m
Point72 Asset Management, L.P. Added +3,289,000+3.3m
JPMORGAN CHASE & CO Added +455,000+455.0k
BANK OF AMERICA CORP /DE/ Added +414,000+414.0k
WELLS FARGO & COMPANY/MN Added +45,000+45.0k

Biggest sellers

TENOR CAPITAL MANAGEMENT Co., L.P. Sold out -38,000,000-38.0m
Linden Advisors LP Sold out -20,431,000-20.4m
Aequim Alternative Investments LP Sold out -5,000,000-5.0m
PICTON MAHONEY ASSET MANAGEMENT Sold out -4,000,000-4.0m
MORGAN STANLEY Reduced -1,921,000-1.9m
JANE STREET GROUP, LLC Sold out -400,000-400.0k
STATE STREET CORP Reduced -211,000-211.0k
FMR LLC Reduced -163,000-163.0k
BlackRock, Inc. Reduced -150,000-150.0k
NOMURA HOLDINGS INC Sold out -74,885-74.9k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Polar Asset Management Partners Inc. 2.77% of their portfolio TORONTO, A6 55,000,00055.0m $139.8m $139.8m 2.77% Unchanged
2 D. E. Shaw & Co., Inc. 0.09% of their portfolio New York, NY 46,000,00046.0m $117.0m $117.0m 0.09% Unchanged
3 Alberta Investment Management Corp 0.61% of their portfolio EDMONTON, A0 40,000,00040.0m $101.7m $101.7m 0.61% Unchanged
4 READYSTATE ASSET MANAGEMENT LP 4.50% of their portfolio CHICAGO, IL 40,000,00040.0m $101.7m $101.7m 4.50% Unchanged
5 CITADEL ADVISORS LLC 0.06% of their portfolio MIAMI, FL 35,119,00035.1m $89.3m $89.3m 0.06% Added +9.1m +9,119,000
6 MILLENNIUM MANAGEMENT LLC 0.06% of their portfolio NEW YORK, NY 35,000,00035.0m $89.1m $89.1m 0.06% New
7 FMR LLC 0.00% of their portfolio BOSTON, MA 23,845,00023.8m $60.5m $60.5m 0.00% Reduced -163.0k -163,000
8 Point72 Asset Management, L.P. 0.09% of their portfolio STAMFORD, CT 23,289,00023.3m $59.3m $59.3m 0.09% Added +3.3m +3,289,000
9 BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio PARIS, I0 15,690,00015.7m $39.8m $39.8m 0.03% New
10 LORD, ABBETT & CO. LLC 0.08% of their portfolio JERSEY CITY, NJ 10,240,00010.2m $26.0m $26.0m 0.08% Added +3.5m +3,492,000
11 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 9,406,0009.4m $239.1k $239.1k 0.00% Added +7.5m +7,520,000
12 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 7,814,0007.8m $19.9m $19.9m 0.00% Reduced -211.0k -211,000
13 Calamos Advisors LLC 0.07% of their portfolio NAPERVILLE, IL 7,049,0007.0m $17.9m $17.9m 0.07% Added +15.0k +15,000
14 PICTON MAHONEY ASSET MANAGEMENT 0.17% of their portfolio Toronto, A6 6,000,0006.0m $15.3m $15.3m 0.17% New
15 BlackRock, Inc. 0.00% of their portfolio New York, NY 4,760,0004.8m $12.1m $12.1m 0.00% Reduced -150.0k -150,000
16 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 2,480,0002.5m $6.3m $6.3m 0.00% Unchanged
17 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1,083,0001.1m $2.8m $2.8m 0.00% Added +45.0k +45,000
18 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 949,000949.0k $2.4m $2.4m 0.00% Added +455.0k +455,000
19 AGF MANAGEMENT LTD 0.01% of their portfolio TORONTO, A6 750,000750.0k $1.9m $1.9m 0.01% Unchanged
20 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 415,000415.0k $1.1m $1.1m 0.00% Added +414.0k +414,000
21 Ares Systematic Credit Ltd 0.21% of their portfolio LONDON, X0 100,000100.0k $254.7k $254.7k 0.21% First filing
22 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 86,00086.0k $218.0k $218.0k 0.00% Reduced -32.0k -32,000
23 LOOMIS SAYLES & CO L P 0.01% of their portfolio BOSTON, MA 74,19174.2k $8.6m $8.6m 0.01% Added +20.7k +20,683
24 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 64,00064.0k $162.4k $162.4k 0.00% Unchanged
25 VIRTUS ADVISERS, LLC 0.03% of their portfolio HARTFORD, CT 25,00025.0k $63.4k $63.4k 0.03% Reduced -10.0k -10,000
26 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 10,00010.0k $25.4k $25.4k 0.00% New
27 Boussard & Gavaudan Investment Management LLP 0.94% of their portfolio London, X0 4,8204.8k $12.4m $12.4m 0.94% Added +1.3k +1,320
28 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 2,0002.0k $5.1k $5.1k 0.00% New
29 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,0001.0k $2.5k $2.5k 0.00% Reduced -1.9m -1,921,000
30 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 1,0001.0k $2.5k $2.5k 0.00% Unchanged