Vault-13

IONIS PHARMACEUTICALS INC IONS 0 04.01.26

NOTE 4/0 · US DOMESTIC · CUSIP 462222AD2

56 institutional holders -3 vs Q1 2024
20,315,00020.3m shares reported held*
$607.0mreported value*
7 new 15 added 18 reduced 9 sold out net sold ≈ $12.3m (-487.0k 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 ($4.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $30.11. Options: 0 managers hold calls (— notional), 1 hold puts ($1.3m).

Trends to Q2 2024

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 41Q4 22: 44Q1 23: 47Q2 23: 51Q3 23: 55Q4 23: 54Q1 24: 59Q2 24: 5656Q3 22Q1 23Q3 23Q1 24Q2 24
Numbers
QuarterHolders
Q3 202241
Q4 202244
Q1 202347
Q2 202351
Q3 202355
Q4 202354
Q1 202459
Q2 202456

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 22: 18 bought or addedQ4 22: 17 cut or sold outQ4 22Q1 23: 24 bought or addedQ1 23: 15 cut or sold outQ2 23: 21 bought or addedQ2 23: 22 cut or sold outQ2 23Q3 23: 26 bought or addedQ3 23: 23 cut or sold outQ4 23: 22 bought or addedQ4 23: 23 cut or sold outQ4 23Q1 24: 27 bought or addedQ1 24: 22 cut or sold outQ2 24: 22 bought or addedQ2 24: 27 cut or sold outQ2 24
Numbers
QuarterBought or addedCut or sold out
Q4 20221817
Q1 20232415
Q2 20232122
Q3 20232623
Q4 20232223
Q1 20242722
Q2 20242227

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$500k$1m$1.5m$2mQ3 23 calls: $0Q3 23 puts: $0Q3 23P/C —Q4 23 calls: $0Q4 23 puts: $1.7mQ4 23P/C —Q1 24 calls: $0Q1 24 puts: $1.6mQ1 24P/C —Q2 24 calls: $0Q2 24 puts: $1.3mQ2 24P/C —
Numbers
QuarterCallsPutsP/C
Q3 2023$0$0—
Q4 2023$0$1.7m—
Q1 2024$0$1.6m—
Q2 2024$0$1.3m—

Biggest buyers

TENOR CAPITAL MANAGEMENT Co., L.P. Added +13,500,000+13.5m
ADVENT CAPITAL MANAGEMENT /DE/ New +9,328,000+9.3m
Nuveen Asset Management, LLC Added +6,640,000+6.6m
Opti Capital Management, LP New +6,468,000+6.5m
SHENKMAN CAPITAL MANAGEMENT INC Added +5,753,000+5.8m
CAPSTONE INVESTMENT ADVISORS, LLC Added +4,000,000+4.0m
ARISTEIA CAPITAL, L.L.C. New +4,000,000+4.0m
JPMORGAN CHASE & CO Added +2,624,000+2.6m
DeepCurrents Investment Group LLC Added +1,500,000+1.5m
BNP PARIBAS FINANCIAL MARKETS Added +704,000+704.0k

Biggest sellers

MORGAN STANLEY Reduced -9,316,000-9.3m
DEUTSCHE BANK AG\ Sold out -7,900,000-7.9m
CITADEL ADVISORS LLC Reduced -6,000,000-6.0m
SSI INVESTMENT MANAGEMENT LLC Reduced -5,925,000-5.9m
Mint Tower Capital Management B.V. Reduced -5,000,000-5.0m
AXA S.A. Reduced -4,960,000-5.0m
STEELHEAD PARTNERS LLC Reduced -3,800,000-3.8m
Jefferies Financial Group Inc. Reduced -3,254,000-3.3m
Linden Advisors LP Reduced -3,000,000-3.0m
Invesco Ltd. Sold out -2,911,000-2.9m

Biggest calls

None

Biggest puts

DEUTSCHE BANK AG\ Reduced $1.3m1.3m shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Holders, Q2 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 TENOR CAPITAL MANAGEMENT Co., L.P. 1.06% of their portfolio NEW YORK, NY 65,500,00065.5m $67.5m $67.5m 1.06% Added +13.5m +13,500,000
2 STEELHEAD PARTNERS LLC 2.68% of their portfolio SEATTLE, WA 50,000,00050.0m $51.5m $51.5m 2.68% Reduced -3.8m -3,800,000
3 LAZARD ASSET MANAGEMENT LLC 0.06% of their portfolio NEW YORK, NY 47,289,00047.3m $48.9m $48.9m 0.06% Unchanged
4 CITADEL ADVISORS LLC 0.05% of their portfolio MIAMI, FL 45,880,00045.9m $47.3m $47.3m 0.05% Reduced -6.0m -6,000,000
5 CAPSTONE INVESTMENT ADVISORS, LLC 0.79% of their portfolio NEW YORK, NY 34,950,00035.0m $36.1m $36.1m 0.79% Added +4.0m +4,000,000
6 CSS LLC/IL 2.42% of their portfolio CHICAGO, IL 31,931,00031.9m $32.9m $32.9m 2.42% Unchanged
7 MacKay Shields LLC 0.94% of their portfolio New York, NY 30,020,00030.0m $31.0m $31.0m 0.94% Added +163.0k +163,000
8 Nuveen Asset Management, LLC 0.01% of their portfolio CHICAGO, IL 26,500,00026.5m $27.3m $27.3m 0.01% Added +6.6m +6,640,000
9 CAMDEN ASSET MANAGEMENT L P /CA 0.64% of their portfolio Los Angeles, CA 20,475,00020.5m $21.1m $21.1m 0.64% Reduced -2.5m -2,500,000
10 SHENKMAN CAPITAL MANAGEMENT INC 1.84% of their portfolio NEW YORK, NY 20,427,00020.4m $21.5m $21.5m 1.84% Added +5.8m +5,753,000
11 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 19,009,00019.0m $19.6m $19.6m 0.01% Reduced -1.2m -1,223,000
12 Calamos Advisors LLC 0.08% of their portfolio NAPERVILLE, IL 16,783,00016.8m $17.3m $17.3m 0.08% Reduced -28.0k -28,000
13 BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio PARIS, I0 15,707,00015.7m $16.2m $16.2m 0.02% Added +704.0k +704,000
14 AVIVA PLC 0.04% of their portfolio LONDON, X0 15,000,00015.0m $15.4m $15.4m 0.04% Unchanged
15 DeepCurrents Investment Group LLC 0.62% of their portfolio NEW YORK, NY 15,000,00015.0m $15.4m $15.4m 0.62% Added +1.5m +1,500,000
16 Lombard Odier Asset Management (Europe) Ltd 0.74% of their portfolio LONDON, X0 14,630,00014.6m $15.1m $15.1m 0.74% Unchanged
17 BlackRock Inc. 0.00% of their portfolio New York, NY 13,062,00013.1m $13.5m $13.5m 0.00% Added +175.0k +175,000
18 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 12,775,00012.8m $13.1m $13.1m 0.00% Reduced -500.0k -500,000
19 Sonora Investment Management Group, LLC 0.97% of their portfolio TUCSON, AZ 12,518,00012.5m $12.4m $12.4m 0.97% Unchanged
20 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 11,213,00011.2m $11.5m $11.5m 0.00% Reduced -9.3m -9,316,000
21 ADVENT CAPITAL MANAGEMENT /DE/ 0.23% of their portfolio NEW YORK, NY 9,328,0009.3m $9.6m $9.6m 0.23% New
22 Walleye Capital LLC 0.08% of their portfolio NEW YORK, NY 7,500,0007.5m $7.8m $7.8m 0.08% Unchanged
23 Opti Capital Management, LP 0.50% of their portfolio New York, NY 6,468,0006.5m $6.7m $6.7m 0.50% New
24 TORONTO DOMINION BANK 0.01% of their portfolio TORONTO, ONTARIO, A6 6,000,0006.0m $6.2m $6.2m 0.01% Added +500.0k +500,000
25 Mint Tower Capital Management B.V. 2.04% of their portfolio AMSTERDAM, P7 5,000,0005.0m $5.2m $5.2m 2.04% Reduced -5.0m -5,000,000
26 Verition Fund Management LLC 0.04% of their portfolio GREENWICH, CT 4,583,0004.6m $4.7m $4.7m 0.04% Added +265.0k +265,000
27 SCHRODER INVESTMENT MANAGEMENT GROUP 0.00% of their portfolio London, X0 4,375,0004.4m $4.5m $4.5m 0.00% Reduced -1.2m -1,225,000
28 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 4,250,0004.2m $4.4m $4.4m 0.00% Unchanged
29 ARISTEIA CAPITAL, L.L.C. 0.15% of their portfolio GREENWICH, CT 4,000,0004.0m $4.1m $4.1m 0.15% New
30 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 3,694,0003.7m $3.4m $3.4m 0.00% Added +2.6m +2,624,000
31 AXA S.A. 0.01% of their portfolio PARIS, I0 3,580,0003.6m $3.7m $3.7m 0.01% Reduced -5.0m -4,960,000
32 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 3,411,0003.4m $3.5m $3.5m 0.00% Reduced -106.0k -106,000
33 Man Group plc 0.01% of their portfolio LONDON, X0 3,150,0003.1m $3.2m $3.2m 0.01% Added +250.0k +250,000
34 Jefferies Financial Group Inc. 0.06% of their portfolio NEW YORK, NY 2,855,0002.9m $2.9m $2.9m 0.06% Reduced -3.3m -3,254,000
35 Kohlberg Kravis Roberts & Co. L.P. 0.03% of their portfolio NEW YORK, NY 840,000840.0k $868.2k $868.2k 0.03% Unchanged
36 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 826,000826.0k $850.4k $850.4k 0.00% Reduced -641.0k -641,000
37 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 761,000761.0k $783.7k $783.7k 0.00% Added +261.0k +261,000
38 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 545,000545.0k $561.1k $561.1k 0.00% Reduced -575.0k -575,000
39 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 521,000521.0k $537.0k $537.0k 0.00% Unchanged
40 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.00% of their portfolio Paris, I0 500,000500.0k $514.0k $514.0k 0.00% Unchanged
41 SSI INVESTMENT MANAGEMENT LLC 0.04% of their portfolio Los Angeles, CA 496,000496.0k $510.8k $510.8k 0.04% Reduced -5.9m -5,925,000
42 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 300,000300.0k $308.9k $308.9k 0.00% Reduced -500.0k -500,000
43 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 259,000259.0k $266.7k $266.7k 0.00% Unchanged
44 Linden Advisors LP 0.00% of their portfolio New York, NY 250,000250.0k $257.6k $257.6k 0.00% Reduced -3.0m -3,000,000
45 KBC Group NV 0.00% of their portfolio Brussels, C9 200,000200.0k $206.0k $206.0k 0.00% Unchanged
46 Calamos Wealth Management LLC 0.01% of their portfolio NAPERVILLE, IL 142,000142.0k $146.4k $146.4k 0.01% Added +5.0k +5,000
47 OPPENHEIMER ASSET MANAGEMENT INC. 0.00% of their portfolio NEW YORK, NY 103,000103.0k $106.1k $106.1k 0.00% Added +47.0k +47,000
48 STEPHENS INC /AR/ 0.00% of their portfolio LITTLE ROCK, AR 48,00048.0k $49.4k $49.4k 0.00% Reduced -1.0k -1,000
49 LAKE STREET ADVISORS GROUP, LLC 0.00% of their portfolio PORTSMOUTH, NH 43,00043.0k $44.3k $44.3k 0.00% Unchanged
50 CHOREO, LLC 0.00% of their portfolio ROCKFORD, IL 42,00042.0k $43.0k $43.0k 0.00% New
51 Argent Trust Co 0.00% of their portfolio NASHVILLE, TN 25,00025.0k $25.7k $25.7k 0.00% Unchanged
52 INSIGNEO ADVISORY SERVICES, LLC 0.00% of their portfolio MIAMI, FL 21,00021.0k $21.7k $21.7k 0.00% New
53 Marcum Wealth, LLC 0.00% of their portfolio CLEVELAND, OH 16,00016.0k $16.5k $16.5k 0.00% New
54 SG Americas Securities, LLC 0.01% of their portfolio NEW YORK, NY 12,00012.0k $1.2m $1.2m 0.01% New
55 COMERICA BANK 0.00% of their portfolio DALLAS, TX 1,0001.0k $1.0k $1.0k 0.00% Unchanged
56 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged