Vault-13

HERBALIFE NUTRITION LTD HLF 2.625 03.15.24

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

29 institutional holders -8 vs Q2 2023
39,471,00039.5m shares reported held*
$171.3mreported value*
2 new 11 added 6 reduced 10 sold out net sold ≈ $67.3m (-516.0k 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 ($229.0k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $4.35.

Trends to Q3 2023

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 41Q4 22: 37Q1 23: 35Q2 23: 37Q3 23: 2929Q3 22Q4 22Q1 23Q2 23Q3 23
Numbers
QuarterHolders
Q3 202241
Q4 202237
Q1 202335
Q2 202337
Q3 202329

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 23Q3 23: 13 bought or addedQ3 23: 16 cut or sold outQ3 23
Numbers
QuarterBought or addedCut or sold out
Q4 20221428
Q1 20231616
Q2 20231314
Q3 20231316

Biggest buyers

MILLENNIUM MANAGEMENT LLC Added +10,000,000+10.0m
BANK OF MONTREAL /CAN/ Added +6,000,000+6.0m
OAKTREE CAPITAL MANAGEMENT LP Added +5,475,000+5.5m
SUSQUEHANNA INTERNATIONAL GROUP, LLP New +5,000,000+5.0m
Fort Baker Capital Management LP Added +4,446,000+4.4m
Russell Investments Group, Ltd. Added +1,275,000+1.3m
PIPER SANDLER & CO. Added +700,000+700.0k
JPMORGAN CHASE & CO Added +664,000+664.0k
CORBYN INVESTMENT MANAGEMENT INC/MD Added +150,000+150.0k
WELLS FARGO & COMPANY/MN Added +49,000+49.0k

Biggest sellers

SHENKMAN CAPITAL MANAGEMENT INC Sold out -37,729,000-37.7m
ADVENT CAPITAL MANAGEMENT /DE/ Reduced -18,003,000-18.0m
Linden Advisors LP Reduced -15,260,000-15.3m
Calamos Advisors LLC Sold out -15,000,000-15.0m
AGF MANAGEMENT LTD Sold out -7,250,000-7.2m
Monashee Investment Management LLC Reduced -4,851,000-4.9m
Parallax Volatility Advisers, L.P. Reduced -2,500,000-2.5m
PALISADE CAPITAL MANAGEMENT, LP Reduced -631,000-631.0k
Penn Capital Management Company, LLC Sold out -595,000-595.0k
MORGAN STANLEY Reduced -525,000-525.0k

Holders, Q3 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Fort Baker Capital Management LP 3.60% of their portfolio Larkspur, CA 37,297,00037.3m $36.6m $36.6m 3.60% Added +4.4m +4,446,000
2 MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio NEW YORK, NY 28,100,00028.1m $27.5m $27.5m 0.03% Added +10.0m +10,000,000
3 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 14,500,00014.5m $14.2m $14.2m 0.01% Added +6.0m +6,000,000
4 PALISADE CAPITAL MANAGEMENT, LP 0.36% of their portfolio FORT LEE, NJ 13,373,00013.4m $13.1m $13.1m 0.36% Reduced -631.0k -631,000
5 Linden Advisors LP 0.13% of their portfolio New York, NY 12,653,00012.7m $12.4m $12.4m 0.13% Reduced -15.3m -15,260,000
6 Parallax Volatility Advisers, L.P. 0.43% of their portfolio San Francisco, CA 12,500,00012.5m $12.2m $12.2m 0.43% Reduced -2.5m -2,500,000
7 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 7,048,0007.0m $6.9m $6.9m 0.00% Added +664.0k +664,000
8 OAKTREE CAPITAL MANAGEMENT LP 0.10% of their portfolio LOS ANGELES, CA 6,688,0006.7m $6.5m $6.5m 0.10% Added +5.5m +5,475,000
9 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 6,675,0006.7m $6.5m $6.5m 0.00% Unchanged
10 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 5,668,0005.7m $5.5m $5.5m 0.00% Unchanged
11 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 5,305,0005.3m $5.2m $5.2m 0.00% Reduced -525.0k -525,000
12 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 5,000,0005.0m $4.9m $4.9m 0.01% New
13 PIPER SANDLER & CO. 3.42% of their portfolio MINNEAPOLIS, MN 3,700,0003.7m $3.6m $3.6m 3.42% Added +700.0k +700,000
14 SSI INVESTMENT MANAGEMENT LLC 0.24% of their portfolio Los Angeles, CA 3,000,0003.0m $2.9m $2.9m 0.24% Unchanged
15 Pekin Hardy Strauss, Inc. 0.35% of their portfolio CHICAGO, IL 2,250,0002.2m $2.2m $2.2m 0.35% Unchanged
16 CORBYN INVESTMENT MANAGEMENT INC/MD 1.09% of their portfolio Lutherville, MD 2,183,0002.2m $2.1m $2.1m 1.09% Added +150.0k +150,000
17 Monashee Investment Management LLC 0.88% of their portfolio Boston, MA 2,149,0002.1m $2.1m $2.1m 0.88% Reduced -4.9m -4,851,000
18 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 1,562,0001.6m $1.5m $1.5m 0.00% Added +1.3m +1,275,000
19 683 Capital Management, LLC 0.15% of their portfolio NEW YORK, NY 1,500,0001.5m $1.5m $1.5m 0.15% Unchanged
20 ADVENT CAPITAL MANAGEMENT /DE/ 0.03% of their portfolio NEW YORK, NY 1,429,0001.4m $1.4m $1.4m 0.03% Reduced -18.0m -18,003,000
21 Chicago Capital Management, LLC 2.67% of their portfolio CHICAGO, IL 1,033,0001.0m $1.0m $1.0m 2.67% Added +33.0k +33,000
22 ONTARIO TEACHERS PENSION PLAN BOARD 0.01% of their portfolio Toronto, A6 1,000,0001.0m $982.9k $982.9k 0.01% Unchanged
23 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 250,000250.0k $244.0k $244.0k 0.00% Unchanged
24 PRELUDE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio NEW YORK, NY 234,000234.0k $229.0k $229.0k 0.02% Unchanged
25 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 74,00074.0k $72.5k $72.5k 0.00% Added +36.0k +36,000
26 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 52,00052.0k $50.9k $50.9k 0.00% Added +49.0k +49,000
27 Arkadios Wealth Advisors 0.00% of their portfolio ATLANTA, GA 13,00013.0k $12.7k $12.7k 0.00% New
28 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 12,00012.0k $11.7k $11.7k 0.00% Unchanged
29 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged