Vault-13

IMMUNOCORE HLDGS PLC IMCR 2.5 02.01.30

NOTE 2.500% 2/0 · US DOMESTIC · CUSIP 45258DAB1

27 institutional holders +0 vs Q3 2025
11,050,42211.1m shares reported held*
$362.8mreported value*
3 new 10 added 5 reduced 5 sold out net sold ≈ $7.0m (+11.1m 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 ≈ $32.83.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0102030Q1 25: 28Q2 25: 25Q3 25: 27Q4 25: 2727Q1 25Q2 25Q3 25Q4 25
Numbers
QuarterHolders
Q1 202528
Q2 202525
Q3 202527
Q4 202527

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q2 25: 12 bought or addedQ2 25: 12 cut or sold outQ2 25Q3 25: 12 bought or addedQ3 25: 9 cut or sold outQ3 25Q4 25: 13 bought or addedQ4 25: 10 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q2 20251212
Q3 2025129
Q4 20251310

Biggest buyers

Context Capital Management, LLC Added +71,470,959+71.5m
Polar Capital Holdings Plc New +11,000,000+11.0m
WOLVERINE ASSET MANAGEMENT LLC Added +6,000,000+6.0m
ADVENT CAPITAL MANAGEMENT /DE/ Added +3,500,000+3.5m
Linden Advisors LP Added +1,500,000+1.5m
BlackRock, Inc. Added +1,000,000+1.0m
STATE STREET CORP Added +1,000,000+1.0m
WELLINGTON MANAGEMENT GROUP LLP Added +655,000+655.0k
Wellesley Asset Management Added +550,000+550.0k
CITIGROUP INC New +263,000+263.0k

Biggest sellers

READYSTATE ASSET MANAGEMENT LP Sold out -12,450,000-12.4m
Polar Capital Holdings Plc Sold out -11,000,000-11.0m
BRAIDWELL LP Sold out -6,828,000-6.8m
CAMDEN ASSET MANAGEMENT L P /CA Reduced -3,265,000-3.3m
BANK OF AMERICA CORP /DE/ Sold out -643,000-643.0k
JPMORGAN CHASE & CO Reduced -314,000-314.0k
WELLS FARGO & COMPANY/MN Reduced -176,000-176.0k
PRICE T ROWE ASSOCIATES INC /MD/ Reduced -119,000-119.0k
PALISADE CAPITAL MANAGEMENT, LP Reduced -16,000-16.0k
Alpine Global Management, LLC Sold out -2,000-2.0k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Linden Advisors LP 0.51% of their portfolio New York, NY 90,836,00090.8m $82.3m $82.3m 0.51% Added +1.5m +1,500,000
2 Context Capital Management, LLC 1.68% of their portfolio LAJOLLA, CA 71,541,00071.5m $65.0m $65.0m 1.68% Added +71.5m +71,470,959
3 CAMDEN ASSET MANAGEMENT L P /CA 0.83% of their portfolio Los Angeles, CA 36,235,00036.2m $32.7m $32.7m 0.83% Reduced -3.3m -3,265,000
4 DEERFIELD MANAGEMENT COMPANY, L.P. 0.35% of their portfolio New York, NY 30,000,00030.0m $27.1m $27.1m 0.35% Unchanged
5 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 28,077,00028.1m $25.6m $25.6m 0.00% Added +655.0k +655,000
6 Kohlberg Kravis Roberts & Co. L.P. 0.34% of their portfolio NEW YORK, NY 23,385,00023.4m $21.3m $21.3m 0.34% Unchanged
7 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 20,000,00020.0m $18.2m $18.2m 0.00% Unchanged
8 Davidson Kempner Capital Management LP 0.26% of their portfolio New York, NY 20,000,00020.0m $18.1m $18.1m 0.26% Unchanged
9 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 17,518,00017.5m $15.9m $15.9m 0.00% Reduced -119.0k -119,000
10 Polar Capital Holdings Plc 0.05% of their portfolio London, X0 11,000,00011.0m $10.0m $10.0m 0.05% New
11 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 8,786,0008.8m $8.0m $8.0m 0.00% Added +1.0m +1,000,000
12 WOLVERINE ASSET MANAGEMENT LLC 0.10% of their portfolio CHICAGO, IL 8,000,0008.0m $7.2m $7.2m 0.10% Added +6.0m +6,000,000
13 M&G PLC 0.03% of their portfolio London, X0 7,219,0007.2m $6.5m $6.5m 0.03% Unchanged
14 ADVENT CAPITAL MANAGEMENT /DE/ 0.12% of their portfolio NEW YORK, NY 5,600,0005.6m $5.1m $5.1m 0.12% Added +3.5m +3,500,000
15 BlackRock, Inc. 0.00% of their portfolio New York, NY 5,025,0005.0m $4.5m $4.5m 0.00% Added +1.0m +1,000,000
16 Ares Systematic Credit Ltd 3.36% of their portfolio LONDON, X0 4,500,0004.5m $4.1m $4.1m 3.36% First filing
17 Wellesley Asset Management 0.39% of their portfolio PORTSMOUTH, NH 4,150,0004.2m $3.7m $3.7m 0.39% Added +550.0k +550,000
18 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 2,184,0002.2m $2.0m $2.0m 0.00% Reduced -314.0k -314,000
19 Nicholas Investment Partners, LP 0.13% of their portfolio RANCHO SANTA FE, CA 1,900,0001.9m $1.7m $1.7m 0.13% Unchanged
20 PALISADE CAPITAL MANAGEMENT, LP 0.01% of their portfolio FORT LEE, NJ 514,000514.0k $464.5k $464.5k 0.01% Reduced -16.0k -16,000
21 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 280,000280.0k $255.7k $255.7k 0.00% Added +40.0k +40,000
22 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 263,000263.0k $237.7k $237.7k 0.00% New
23 Northwest & Ethical Investments L.P. 0.00% of their portfolio TORONTO, A6 105,000105.0k $94.6k $94.6k 0.00% Unchanged
24 MACQUARIE GROUP LTD 0.00% of their portfolio Sydney, NSW 2000, C3 50,00050.0k $45.4k $45.4k 0.00% New
25 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 24,00024.0k $2.2m $2.2m 0.00% Added +15.0k +15,000
26 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 19,00019.0k $17.2k $17.2k 0.00% Reduced -176.0k -176,000
27 ODDO BHF ASSET MANAGEMENT SAS 0.01% of their portfolio PARIS, I0 422422 $386.0k $386.0k 0.01% Not comparable