Vault-13

HERBALIFE LTD HLF 4.25 06.15.28

NOTE 4.250% 6/1 · US DOMESTIC · CUSIP 42703MAF0

18 institutional holders -1 vs Q1 2026
$272.9mprincipal reported held*
$303.9mreported value*
2 new 4 added 2 reduced 3 sold out net sold ≈ $743.3k

* 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 ($6.5m this quarter). Holder counts are more reliable.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0102030Q3 24: 20Q4 24: 25Q1 25: 25Q2 25: 24Q3 25: 23Q4 25: 29Q1 26: 19Q2 26: 1818Q3 24Q1 25Q3 25Q1 26Q2 26
Numbers
QuarterHolders
Q3 202420
Q4 202425
Q1 202525
Q2 202524
Q3 202523
Q4 202529
Q1 202619
Q2 202618

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q4 24: 14 bought or addedQ4 24: 10 cut or sold outQ4 24Q1 25: 14 bought or addedQ1 25: 12 cut or sold outQ2 25: 7 bought or addedQ2 25: 9 cut or sold outQ2 25Q3 25: 8 bought or addedQ3 25: 9 cut or sold outQ4 25: 18 bought or addedQ4 25: 11 cut or sold outQ4 25Q1 26: 7 bought or addedQ1 26: 17 cut or sold outQ2 26: 6 bought or addedQ2 26: 5 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q4 20241410
Q1 20251412
Q2 202579
Q3 202589
Q4 20251811
Q1 2026717
Q2 202665

Biggest buyers

TWO SIGMA INVESTMENTS, LP Added +4,685,000+4.7m
MILLENNIUM MANAGEMENT LLC Added +3,450,000+3.5m
BARINGS LLC Added +2,787,000+2.8m
ADVENT CAPITAL MANAGEMENT /DE/ Added +1,992,000+2.0m
Mirabaud Asset Management (France) SAS New +550,000+550.0k
Virtus Fixed Income Advisers, LLC New +205,000+205.0k

Biggest sellers

ARISTEIA CAPITAL, L.L.C. Sold out -8,000,000-8.0m
Balyasny Asset Management L.P. Reduced -4,672,000-4.7m
Ares Systematic Credit Ltd Sold out -1,600,000-1.6m
WELLS FARGO & COMPANY/MN Sold out -25,000-25.0k
FMR LLC Reduced -20,000-20.0k

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BARINGS LLC 1.21% of their portfolio CHARLOTTE, NC 59,612,00059.6m $68.4m $68.4m 1.21% Added +2.8m +2,787,000
2 Linden Advisors LP 0.28% of their portfolio New York, NY 47,431,00047.4m $54.8m $54.8m 0.28% Unchanged
3 WHITEBOX ADVISORS LLC 0.54% of their portfolio MINNEAPOLIS, MN 29,321,00029.3m $33.6m $33.6m 0.54% Unchanged
4 DeepCurrents Investment Group LLC 1.03% of their portfolio NEW YORK, NY 25,948,00025.9m $30.0m $30.0m 1.03% Unchanged
5 Arena Capital Advisors, LLC- CA 13.88% of their portfolio LOS ANGELES, CA 25,000,00025.0m $28.8m $28.8m 13.88% Unchanged
6 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 23,272,00023.3m $27.0m $27.0m 0.02% Added +3.5m +3,450,000
7 Balyasny Asset Management L.P. 0.04% of their portfolio Chicago, IL 20,455,00020.5m $23.6m $23.6m 0.04% Reduced -4.7m -4,672,000
8 TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio NEW YORK, NY 18,001,00018.0m $20.6m $20.6m 0.02% Added +4.7m +4,685,000
9 Russell Investments Group, Ltd. 0.01% of their portfolio Seattle, WA 6,975,0007.0m $8.0m $8.0m 0.01% Unchanged
10 ADVENT CAPITAL MANAGEMENT /DE/ 0.13% of their portfolio NEW YORK, NY 4,992,0005.0m $5.8m $5.8m 0.13% Added +2.0m +1,992,000
11 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 3,448,0003.4m $39.7k $39.7k 0.00% Unchanged
12 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 3,314,0003.3m $3.8m $3.8m 0.00% Unchanged
13 FMR LLC 0.00% of their portfolio BOSTON, MA 3,058,0003.1m $3.5m $3.5m 0.00% Reduced -20.0k -20,000
14 Universal- Beteiligungs- und Servicegesellschaft mbH 0.00% of their portfolio FRANKFURT AM MAIN, 2M 1,194,0001.2m $1.4m $1.4m 0.00% Unchanged
15 Mirabaud Asset Management (France) SAS 0.28% of their portfolio PARIS, I0 550,000550.0k $627.6k $627.6k 0.28% New
16 Virtus Fixed Income Advisers, LLC 0.15% of their portfolio HARTFORD, CT 205,000205.0k $235.2k $235.2k 0.15% New
17 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 51,00051.0k $58.5k $58.5k 0.00% Unchanged
18 VIRTUS ADVISERS, LLC 0.02% of their portfolio HARTFORD, CT 47,00047.0k $53.9k $53.9k 0.02% Unchanged