Vault-13

HERBALIFE NUTRITION LTD HLF 2.625 03.15.24

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

24 institutional holders -5 vs Q3 2023
38,016,00038.0m shares reported held*
$185.5mreported value*
5 new 6 added 3 reduced 10 sold out net bought ≈ $7.0m (-1.5m 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 ≈ $4.88.

Trends to Q4 2023

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 41Q4 22: 37Q1 23: 35Q2 23: 37Q3 23: 29Q4 23: 2424Q3 22Q4 22Q1 23Q2 23Q3 23Q4 23
Numbers
QuarterHolders
Q3 202241
Q4 202237
Q1 202335
Q2 202337
Q3 202329
Q4 202324

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 23Q4 23: 11 bought or addedQ4 23: 13 cut or sold outQ4 23
Numbers
QuarterBought or addedCut or sold out
Q4 20221428
Q1 20231616
Q2 20231314
Q3 20231316
Q4 20231113

Biggest buyers

Radcliffe Capital Management, L.P. New +33,855,000+33.9m
OSTERWEIS CAPITAL MANAGEMENT INC New +13,050,000+13.1m
JPMORGAN CHASE & CO Added +7,048,000+7.0m
MORGAN STANLEY Added +6,395,000+6.4m
INTREPID CAPITAL MANAGEMENT INC New +3,000,000+3.0m
COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS New +2,185,000+2.2m
CORBYN INVESTMENT MANAGEMENT INC/MD Added +1,378,000+1.4m
Linden Advisors LP Added +1,224,000+1.2m
PIPER SANDLER & CO. Added +820,000+820.0k
SSI INVESTMENT MANAGEMENT LLC Added +300,000+300.0k

Biggest sellers

MILLENNIUM MANAGEMENT LLC Sold out -28,100,000-28.1m
OAKTREE CAPITAL MANAGEMENT LP Sold out -6,688,000-6.7m
STATE STREET CORP Sold out -6,675,000-6.7m
DEUTSCHE BANK AG\ Sold out -5,668,000-5.7m
SUSQUEHANNA INTERNATIONAL GROUP, LLP Sold out -5,000,000-5.0m
Fort Baker Capital Management LP Reduced -4,491,000-4.5m
Monashee Investment Management LLC Sold out -2,149,000-2.1m
Russell Investments Group, Ltd. Sold out -1,562,000-1.6m
683 Capital Management, LLC Sold out -1,500,000-1.5m
Chicago Capital Management, LLC Reduced -1,027,467-1.0m

Holders, Q4 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Radcliffe Capital Management, L.P. 4.47% of their portfolio BALA CYNWYD, PA 33,855,00033.9m $33.4m $33.4m 4.47% New
2 Fort Baker Capital Management LP 4.12% of their portfolio Larkspur, CA 32,806,00032.8m $32.9m $32.9m 4.12% Reduced -4.5m -4,491,000
3 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 14,500,00014.5m $14.5m $14.5m 0.00% Unchanged
4 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 14,096,00014.1m $14.0m $14.0m 0.00% Added +7.0m +7,048,000
5 Linden Advisors LP 0.13% of their portfolio New York, NY 13,877,00013.9m $13.8m $13.8m 0.13% Added +1.2m +1,224,000
6 PALISADE CAPITAL MANAGEMENT, LP 0.35% of their portfolio FORT LEE, NJ 13,333,00013.3m $13.2m $13.2m 0.35% Reduced -40.0k -40,000
7 OSTERWEIS CAPITAL MANAGEMENT INC 0.82% of their portfolio SAN FRANCISCO, CA 13,050,00013.1m $12.9m $12.9m 0.82% New
8 Parallax Volatility Advisers, L.P. 0.34% of their portfolio San Francisco, CA 12,500,00012.5m $12.3m $12.3m 0.34% Unchanged
9 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 11,700,00011.7m $11.6m $11.6m 0.00% Added +6.4m +6,395,000
10 PIPER SANDLER & CO. 3.37% of their portfolio MINNEAPOLIS, MN 4,520,0004.5m $4.5m $4.5m 3.37% Added +820.0k +820,000
11 CORBYN INVESTMENT MANAGEMENT INC/MD 1.65% of their portfolio Lutherville, MD 3,561,0003.6m $3.5m $3.5m 1.65% Added +1.4m +1,378,000
12 SSI INVESTMENT MANAGEMENT LLC 0.25% of their portfolio Los Angeles, CA 3,300,0003.3m $3.3m $3.3m 0.25% Added +300.0k +300,000
13 INTREPID CAPITAL MANAGEMENT INC 2.03% of their portfolio JACKSONVILLE BEACH, FL 3,000,0003.0m $3.0m $3.0m 2.03% New
14 Pekin Hardy Strauss, Inc. 0.33% of their portfolio CHICAGO, IL 2,250,0002.2m $2.2m $2.2m 0.33% Unchanged
15 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.02% of their portfolio HARRISBURG, PA 2,185,0002.2m $2.2m $2.2m 0.02% New
16 ADVENT CAPITAL MANAGEMENT /DE/ 0.03% of their portfolio NEW YORK, NY 1,429,0001.4m $1.4m $1.4m 0.03% Unchanged
17 ONTARIO TEACHERS PENSION PLAN BOARD 0.01% of their portfolio Toronto, A6 1,000,0001.0m $996.3k $996.3k 0.01% Unchanged
18 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 250,000250.0k $246.6k $246.6k 0.00% Unchanged
19 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 52,00052.0k $51.8k $51.8k 0.00% Unchanged
20 Arkadios Wealth Advisors 0.00% of their portfolio ATLANTA, GA 13,00013.0k $12.8k $12.8k 0.00% Unchanged
21 Jefferies Financial Group Inc. 0.00% of their portfolio NEW YORK, NY 12,00012.0k $10.5k $10.5k 0.00% New
22 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 12,00012.0k $11.8k $11.8k 0.00% Unchanged
23 Chicago Capital Management, LLC 8.77% of their portfolio CHICAGO, IL 5,5335.5k $5.5m $5.5m 8.77% Reduced -1.0m -1,027,467
24 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged