Vault-13

HERBALIFE NUTRITION LTD HLF 2.625 03.15.24

NOTE 2.625% 3/1 · US DOMESTIC · CUSIP 42703MAD5

37 institutional holders +2 vs Q1 2023
39,987,00040.0m shares reported held*
$237.3mreported value*
8 new 5 added 8 reduced 6 sold out net bought ≈ $10.5m (+23.8m 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 ($227.2k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $5.94.

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 41Q4 22: 37Q1 23: 35Q2 23: 3737Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202241
Q4 202237
Q1 202335
Q2 202337

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 22: 14 bought or addedQ4 22: 28 cut or sold outQ4 22Q1 23: 16 bought or addedQ1 23: 16 cut or sold outQ1 23Q2 23: 13 bought or addedQ2 23: 14 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 20221428
Q1 20231616
Q2 20231314

Biggest buyers

MILLENNIUM MANAGEMENT LLC New +18,100,000+18.1m
Fort Baker Capital Management LP Added +16,952,000+17.0m
Monashee Investment Management LLC New +7,000,000+7.0m
JPMORGAN CHASE & CO New +6,384,000+6.4m
CORBYN INVESTMENT MANAGEMENT INC/MD New +2,033,000+2.0m
STATE STREET CORP Added +2,000,000+2.0m
MORGAN STANLEY Added +1,035,000+1.0m
SHENKMAN CAPITAL MANAGEMENT INC Added +154,000+154.0k
BANK OF AMERICA CORP /DE/ New +110,000+110.0k
WMS Partners, LLC New +64,000+64.0k

Biggest sellers

Nuveen Asset Management, LLC Sold out -14,978,000-15.0m
Monashee Investment Management LLC Sold out -7,000,000-7.0m
OAKTREE CAPITAL MANAGEMENT LP Reduced -6,943,000-6.9m
CITADEL ADVISORS LLC Sold out -5,000,000-5.0m
CAMDEN ASSET MANAGEMENT L P /CA Sold out -2,634,000-2.6m
Parallax Volatility Advisers, L.P. Reduced -2,000,000-2.0m
Russell Investments Group, Ltd. Reduced -1,557,000-1.6m
DEUTSCHE BANK AG\ Reduced -915,000-915.0k
PALISADE CAPITAL MANAGEMENT, LP Reduced -834,000-834.0k
ADVENT CAPITAL MANAGEMENT /DE/ Reduced -584,000-584.0k

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 SHENKMAN CAPITAL MANAGEMENT INC 2.88% of their portfolio NEW YORK, NY 37,729,00037.7m $36.9m $36.9m 2.88% Added +154.0k +154,000
2 Fort Baker Capital Management LP 4.56% of their portfolio Larkspur, CA 32,851,00032.9m $32.2m $32.2m 4.56% Added +17.0m +16,952,000
3 Linden Advisors LP 0.28% of their portfolio New York, NY 27,913,00027.9m $27.1m $27.1m 0.28% Reduced -372.0k -372,000
4 ADVENT CAPITAL MANAGEMENT /DE/ 0.38% of their portfolio NEW YORK, NY 19,432,00019.4m $18.9m $18.9m 0.38% Reduced -584.0k -584,000
5 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 18,100,00018.1m $17.6m $17.6m 0.02% New
6 Calamos Advisors LLC 0.07% of their portfolio NAPERVILLE, IL 15,000,00015.0m $14.6m $14.6m 0.07% Unchanged
7 Parallax Volatility Advisers, L.P. 0.50% of their portfolio San Francisco, CA 15,000,00015.0m $14.5m $14.5m 0.50% Reduced -2.0m -2,000,000
8 PALISADE CAPITAL MANAGEMENT, LP 0.36% of their portfolio FORT LEE, NJ 14,004,00014.0m $13.6m $13.6m 0.36% Reduced -834.0k -834,000
9 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 8,500,0008.5m $8.2m $8.2m 0.00% Unchanged
10 AGF MANAGEMENT LTD 0.05% of their portfolio TORONTO, A6 7,250,0007.2m $7.0m $7.0m 0.05% Unchanged
11 Monashee Investment Management LLC 1.62% of their portfolio Boston, MA 7,000,0007.0m $6.8m $6.8m 1.62% New
12 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 6,675,0006.7m $6.5m $6.5m 0.00% Added +2.0m +2,000,000
13 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 6,384,0006.4m $6.2m $6.2m 0.00% New
14 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 5,830,0005.8m $5.6m $5.6m 0.00% Added +1.0m +1,035,000
15 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 5,668,0005.7m $5.5m $5.5m 0.00% Reduced -915.0k -915,000
16 PIPER SANDLER & CO. 3.10% of their portfolio MINNEAPOLIS, MN 3,000,0003.0m $2.9m $2.9m 3.10% Unchanged
17 SSI INVESTMENT MANAGEMENT LLC 0.20% of their portfolio Los Angeles, CA 3,000,0003.0m $2.9m $2.9m 0.20% Unchanged
18 Pekin Hardy Strauss, Inc. 0.34% of their portfolio CHICAGO, IL 2,250,0002.2m $2.2m $2.2m 0.34% Unchanged
19 CORBYN INVESTMENT MANAGEMENT INC/MD 0.95% of their portfolio Lutherville, MD 2,033,0002.0m $2.0m $2.0m 0.95% New
20 683 Capital Management, LLC 0.14% of their portfolio NEW YORK, NY 1,500,0001.5m $1.5m $1.5m 0.14% Unchanged
21 OAKTREE CAPITAL MANAGEMENT LP 0.02% of their portfolio LOS ANGELES, CA 1,213,0001.2m $1.2m $1.2m 0.02% Reduced -6.9m -6,943,000
22 ONTARIO TEACHERS PENSION PLAN BOARD 0.01% of their portfolio Toronto, A6 1,000,0001.0m $972.8k $972.8k 0.01% Unchanged
23 Chicago Capital Management, LLC 1.25% of their portfolio CHICAGO, IL 1,000,0001.0m $973.1k $973.1k 1.25% Unchanged
24 Penn Capital Management Company, LLC 0.06% of their portfolio PHILADELPHIA, PA 595,000595.0k $577.1k $577.1k 0.06% Unchanged
25 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 287,000287.0k $281.0k $281.0k 0.00% Reduced -1.6m -1,557,000
26 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 250,000250.0k $242.1k $242.1k 0.00% Unchanged
27 PRELUDE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio NEW YORK, NY 234,000234.0k $227.2k $227.2k 0.02% Unchanged
28 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 110,000110.0k $106.5k $106.5k 0.00% New
29 WMS Partners, LLC 0.00% of their portfolio TOWSON, MD 64,00064.0k $62.6k $62.6k 0.00% New
30 LAKE STREET ADVISORS GROUP, LLC 0.00% of their portfolio PORTSMOUTH, NH 60,00060.0k $58.0k $58.0k 0.00% Unchanged
31 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 38,00038.0k $36.8k $36.8k 0.00% Added +20.0k +20,000
32 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 12,00012.0k $11.6k $11.6k 0.00% Unchanged
33 Marcum Wealth, LLC 0.00% of their portfolio CLEVELAND, OH 12,00012.0k $11.6k $11.6k 0.00% Reduced -7.0k -7,000
34 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 10,00010.0k $10.0k $10.0k 0.00% New
35 UBS Group AG 0.00% of their portfolio ZURICH, V8 9,0009.0k $8.7k $8.7k 0.00% Unchanged
36 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 3,0003.0k $2.9k $2.9k 0.00% New
37 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged