Vault-13

H WORLD GROUP LTD HTHT 3 05.01.26

NOTE 3.000% 5/0 · US DOMESTIC · CUSIP 44332NAB2

42 institutional holders -2 vs Q1 2025
68,001,30068.0m shares reported held*
$462.1mreported value*
2 new 10 added 12 reduced 5 sold out net bought ≈ $7.3m (+1.0m 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 ≈ $6.80.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 32Q4 22: 33Q1 23: 37Q2 23: 32Q3 23: 34Q4 23: 33Q1 24: 35Q2 24: 43Q3 24: 38Q4 24: 40Q1 25: 44Q2 25: 4242Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202232
Q4 202233
Q1 202337
Q2 202332
Q3 202334
Q4 202333
Q1 202435
Q2 202443
Q3 202438
Q4 202440
Q1 202544
Q2 202542

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 23: 10 bought or addedQ3 23: 13 cut or sold outQ4 23: 9 bought or addedQ4 23: 10 cut or sold outQ4 23Q1 24: 15 bought or addedQ1 24: 7 cut or sold outQ2 24: 22 bought or addedQ2 24: 7 cut or sold outQ2 24Q3 24: 13 bought or addedQ3 24: 15 cut or sold outQ4 24: 12 bought or addedQ4 24: 15 cut or sold outQ4 24Q1 25: 14 bought or addedQ1 25: 9 cut or sold outQ2 25: 12 bought or addedQ2 25: 17 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20231013
Q4 2023910
Q1 2024157
Q2 2024227
Q3 20241315
Q4 20241215
Q1 2025149
Q2 20251217

Biggest buyers

Linden Advisors LP Added +18,991,000+19.0m
LMR Partners LLP New +17,000,000+17.0m
WOLVERINE ASSET MANAGEMENT LLC Added +12,500,000+12.5m
CITIGROUP INC Added +3,283,000+3.3m
Jefferies Financial Group Inc. Added +1,614,000+1.6m
MORGAN STANLEY Added +1,172,000+1.2m
Ovata Capital Management Ltd Added +1,000,000+1.0m
DEUTSCHE BANK AG\ Added +700,000+700.0k
JPMORGAN CHASE & CO Added +292,000+292.0k
SSI INVESTMENT MANAGEMENT LLC Added +143,000+143.0k

Biggest sellers

LAZARD ASSET MANAGEMENT LLC Reduced -31,639,000-31.6m
ADVENT CAPITAL MANAGEMENT /DE/ Reduced -4,917,000-4.9m
OAKTREE CAPITAL MANAGEMENT LP Reduced -3,973,000-4.0m
Fore Capital, LLC Sold out -3,000,000-3.0m
ROYAL BANK OF CANADA Sold out -1,650,000-1.6m
PRICE T ROWE ASSOCIATES INC /MD/ Reduced -1,185,000-1.2m
Lombard Odier Asset Management (Europe) Ltd Sold out -709,000-709.0k
SHENKMAN CAPITAL MANAGEMENT INC Reduced -709,000-709.0k
STATE STREET CORP Reduced -650,000-650.0k
DNCA FINANCE Reduced -300,000-300.0k

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Linden Advisors LP 0.87% of their portfolio New York, NY 134,142,000134.1m $141.9m $141.9m 0.87% Added +19.0m +18,991,000
2 Aspex Management (HK) Ltd 1.16% of their portfolio CENTRAL, K3 50,000,00050.0m $53.1m $53.1m 1.16% Unchanged
3 M&G PLC 0.16% of their portfolio London, X0 27,019,00027.0m $28.6m $28.6m 0.16% Reduced -197.0k -197,000
4 LAZARD ASSET MANAGEMENT LLC 0.03% of their portfolio NEW YORK, NY 22,878,00022.9m $24.2m $24.2m 0.03% Reduced -31.6m -31,639,000
5 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 22,118,00022.1m $23.7m $23.7m 0.00% Added +292.0k +292,000
6 LMR Partners LLP 0.28% of their portfolio LONDON, X0 17,000,00017.0m $18.0m $18.0m 0.28% New
7 ONTARIO TEACHERS PENSION PLAN BOARD 0.35% of their portfolio Toronto, A6 16,000,00016.0m $17.0m $17.0m 0.35% Unchanged
8 WOLVERINE ASSET MANAGEMENT LLC 0.25% of their portfolio CHICAGO, IL 14,000,00014.0m $14.9m $14.9m 0.25% Added +12.5m +12,500,000
9 Ovata Capital Management Ltd 2.98% of their portfolio HONG KONG, K3 13,000,00013.0m $13.8m $13.8m 2.98% Added +1.0m +1,000,000
10 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 11,200,00011.2m $11.9m $11.9m 0.01% Unchanged
11 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 9,947,0009.9m $10.6m $10.6m 0.00% Reduced -650.0k -650,000
12 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 9,000,0009.0m $9.6m $9.6m 0.01% Added +59.0k +59,000
13 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 8,362,0008.4m $8.8m $8.8m 0.01% Added +3.3m +3,283,000
14 Davidson Kempner Capital Management LP 0.12% of their portfolio New York, NY 7,584,0007.6m $8.0m $8.0m 0.12% Not comparable
15 OAKTREE CAPITAL MANAGEMENT LP 0.14% of their portfolio LOS ANGELES, CA 6,884,0006.9m $7.3m $7.3m 0.14% Reduced -4.0m -3,973,000
16 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 6,013,0006.0m $6.3m $6.3m 0.00% Added +1.2m +1,172,000
17 Pinpoint Asset Management (Singapore) Pte. Ltd. 0.93% of their portfolio SINGAPORE, U0 5,000,0005.0m $5.3m $5.3m 0.93% First filing
18 BlackRock, Inc. 0.00% of their portfolio New York, NY 4,879,0004.9m $5.1m $5.1m 0.00% Reduced -150.0k -150,000
19 Amundi 0.00% of their portfolio Paris, I0 4,400,0004.4m $4.6m $4.6m 0.00% Unchanged
20 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 4,280,0004.3m $4.6m $4.6m 0.00% Reduced -75.0k -75,000
21 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 3,748,0003.7m $4.0m $4.0m 0.00% Reduced -1.2m -1,185,000
22 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 3,639,0003.6m $3.8m $3.8m 0.00% Reduced -227.0k -227,000
23 Jefferies Financial Group Inc. 0.06% of their portfolio NEW YORK, NY 3,324,0003.3m $3.5m $3.5m 0.06% Added +1.6m +1,614,000
24 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 2,986,0003.0m $3.2m $3.2m 0.00% Added +700.0k +700,000
25 ADVENT CAPITAL MANAGEMENT /DE/ 0.04% of their portfolio NEW YORK, NY 1,772,0001.8m $1.9m $1.9m 0.04% Reduced -4.9m -4,917,000
26 Polar Capital Holdings Plc 0.01% of their portfolio London, X0 1,500,0001.5m $1.6m $1.6m 0.01% Unchanged
27 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 900,000900.0k $958.0k $958.0k 0.00% Unchanged
28 SHENKMAN CAPITAL MANAGEMENT INC 0.04% of their portfolio NEW YORK, NY 404,000404.0k $413.9k $413.9k 0.04% Reduced -709.0k -709,000
29 ABN AMRO INVESTMENT SOLUTIONS 0.01% of their portfolio PARIS CEDEX 008, I0 400,000400.0k $423.2k $423.2k 0.01% Unchanged
30 SSI INVESTMENT MANAGEMENT LLC 0.02% of their portfolio Los Angeles, CA 317,000317.0k $334.6k $334.6k 0.02% Added +143.0k +143,000
31 DNCA FINANCE 0.02% of their portfolio PARIS, I0 300,000300.0k $322.5k $322.5k 0.02% Reduced -300.0k -300,000
32 SG Americas Securities, LLC 0.10% of their portfolio NEW YORK, NY 220,000220.0k $23.3m $23.3m 0.10% Unchanged
33 Man Group plc 0.00% of their portfolio LONDON, X0 220,000220.0k $234.6k $234.6k 0.00% Unchanged
34 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 91,00091.0k $96.8k $96.8k 0.00% Reduced -279.0k -279,000
35 Union Bancaire Privee, UBP SA 0.00% of their portfolio GENEVA 1, V8 60,00060.0k $54.6k $54.6k 0.00% Unchanged
36 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 4,0004.0k $4.2k $4.2k 0.00% New
37 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 3,0003.0k $3.2k $3.2k 0.00% Unchanged
38 UBS Group AG 0.00% of their portfolio ZURICH, V8 1,5001.5k $1.6k $1.6k 0.00% Unchanged
39 ROTHSCHILD INVESTMENT LLC 0.00% of their portfolio CHICAGO, IL 1,0001.0k $1.1k $1.1k 0.00% Unchanged
40 Candriam S.C.A. 0.00% of their portfolio STRASSEN, N4 400400 $430.1k $430.1k 0.00% Unchanged
41 ODDO BHF ASSET MANAGEMENT SAS 0.01% of their portfolio PARIS, I0 300300 $322.5k $322.5k 0.01% Unchanged
42 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged