Vault-13

IONIS PHARMACEUTICALS INC IONS 1.75 06.15.28

NOTE 1.750% 6/1 · US DOMESTIC · CUSIP 462222AF7

44 institutional holders -4 vs Q1 2026
14,319,25114.3m shares reported held*
$898.9mreported value*
9 new 10 added 18 reduced 12 sold out net bought ≈ $101.0m (+346.2k 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 ≈ $62.78.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0204060Q2 24: 37Q3 24: 46Q4 24: 48Q1 25: 47Q2 25: 51Q3 25: 48Q4 25: 55Q1 26: 48Q2 26: 4444Q2 24Q4 24Q2 25Q4 25Q2 26
Numbers
QuarterHolders
Q2 202437
Q3 202446
Q4 202448
Q1 202547
Q2 202551
Q3 202548
Q4 202555
Q1 202648
Q2 202644

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 24: 24 bought or addedQ3 24: 18 cut or sold outQ4 24: 21 bought or addedQ4 24: 19 cut or sold outQ4 24Q1 25: 16 bought or addedQ1 25: 23 cut or sold outQ2 25: 22 bought or addedQ2 25: 20 cut or sold outQ2 25Q3 25: 19 bought or addedQ3 25: 28 cut or sold outQ4 25: 23 bought or addedQ4 25: 29 cut or sold outQ4 25Q1 26: 23 bought or addedQ1 26: 23 cut or sold outQ2 26: 19 bought or addedQ2 26: 30 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 20242418
Q4 20242119
Q1 20251623
Q2 20252220
Q3 20251928
Q4 20252329
Q1 20262323
Q2 20261930

Biggest buyers

TENOR CAPITAL MANAGEMENT Co., L.P. Added +72,972,000+73.0m
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC New +41,100,000+41.1m
CITADEL ADVISORS LLC Added +28,467,000+28.5m
DLD Asset Management, LP Added +5,000,000+5.0m
PICTON MAHONEY ASSET MANAGEMENT New +5,000,000+5.0m
BNP PARIBAS ASSET MANAGEMENT Holding S.A. New +3,135,000+3.1m
STATE STREET CORP Added +3,125,000+3.1m
LMR Partners LLP Added +2,700,000+2.7m
SSI INVESTMENT MANAGEMENT LLC New +2,340,000+2.3m
STATE OF WISCONSIN INVESTMENT BOARD Added +1,000,000+1.0m

Biggest sellers

Balyasny Asset Management L.P. Reduced -17,500,000-17.5m
Calamos Advisors LLC Reduced -12,506,000-12.5m
ARISTEIA CAPITAL, L.L.C. Sold out -10,000,000-10.0m
VOYA INVESTMENT MANAGEMENT LLC Reduced -8,595,000-8.6m
MacKay Shields LLC Reduced -7,996,000-8.0m
BlackRock, Inc. Reduced -7,765,000-7.8m
BNP PARIBAS FINANCIAL MARKETS Reduced -6,645,000-6.6m
JPMORGAN CHASE & CO Reduced -4,764,000-4.8m
WELLS FARGO & COMPANY/MN Reduced -4,347,000-4.3m
LAZARD ASSET MANAGEMENT LLC Reduced -3,369,000-3.4m

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 TENOR CAPITAL MANAGEMENT Co., L.P. 2.08% of their portfolio NEW YORK, NY 94,682,00094.7m $147.8m $147.8m 2.08% Added +73.0m +72,972,000
2 CITADEL ADVISORS LLC 0.08% of their portfolio MIAMI, FL 86,467,00086.5m $134.7m $134.7m 0.08% Added +28.5m +28,467,000
3 VOYA INVESTMENT MANAGEMENT LLC 0.10% of their portfolio ATLANTA, GA 76,655,00076.7m $119.4m $119.4m 0.10% Reduced -8.6m -8,595,000
4 DEERFIELD MANAGEMENT COMPANY, L.P. 0.97% of their portfolio New York, NY 60,000,00060.0m $93.1m $93.1m 0.97% Unchanged
5 DLD Asset Management, LP 7.62% of their portfolio NEW YORK, NY 60,000,00060.0m $93.7m $93.7m 7.62% Added +5.0m +5,000,000
6 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio NEW YORK, NY 41,100,00041.1m $63.9m $63.9m 0.01% New
7 LMR Partners LLP 0.46% of their portfolio LONDON, X0 40,000,00040.0m $62.0m $62.0m 0.46% Added +2.7m +2,700,000
8 Balyasny Asset Management L.P. 0.05% of their portfolio Chicago, IL 17,500,00017.5m $27.2m $27.2m 0.05% Reduced -17.5m -17,500,000
9 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 15,025,00015.0m $23.4m $23.4m 0.00% Added +3.1m +3,125,000
10 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 13,162,00013.2m $205.1k $205.1k 0.00% Reduced -3.4m -3,369,000
11 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 11,567,00011.6m $18.0m $18.0m 0.00% Reduced -2.3m -2,296,000
12 BlackRock, Inc. 0.00% of their portfolio New York, NY 11,425,00011.4m $17.8m $17.8m 0.00% Reduced -7.8m -7,765,000
13 M&G PLC 0.06% of their portfolio London, X0 7,331,0007.3m $11.4m $11.4m 0.06% Unchanged
14 FMR LLC 0.00% of their portfolio BOSTON, MA 7,004,0007.0m $10.9m $10.9m 0.00% Added +15.0k +15,000
15 LORD, ABBETT & CO. LLC 0.03% of their portfolio JERSEY CITY, NJ 6,592,0006.6m $10.2m $10.2m 0.03% Reduced -475.0k -475,000
16 Focus Partners Wealth 0.01% of their portfolio ST LOUIS, MO 5,176,0005.2m $8.1m $8.1m 0.01% Reduced -103.0k -103,000
17 ADVENT CAPITAL MANAGEMENT /DE/ 0.18% of their portfolio NEW YORK, NY 5,146,0005.1m $8.0m $8.0m 0.18% Added +14.0k +14,000
18 PICTON MAHONEY ASSET MANAGEMENT 0.07% of their portfolio Toronto, A6 5,000,0005.0m $7.8m $7.8m 0.07% New
19 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 4,000,0004.0m $6.2m $6.2m 0.01% Added +1.0m +1,000,000
20 Amundi 0.00% of their portfolio Paris, I0 3,450,0003.5m $5.4m $5.4m 0.00% Unchanged
21 Universal- Beteiligungs- und Servicegesellschaft mbH 0.01% of their portfolio FRANKFURT AM MAIN, 2M 3,374,0003.4m $5.2m $5.2m 0.01% Reduced -1.3m -1,300,000
22 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.00% of their portfolio Paris, I0 3,135,0003.1m $4.9m $4.9m 0.00% New
23 MacKay Shields LLC 0.13% of their portfolio New York, NY 2,414,0002.4m $3.8m $3.8m 0.13% Reduced -8.0m -7,996,000
24 SSI INVESTMENT MANAGEMENT LLC 0.21% of their portfolio Los Angeles, CA 2,340,0002.3m $3.6m $3.6m 0.21% New
25 Union Bancaire Privee, UBP SA 0.03% of their portfolio GENEVA 1, V8 1,855,0001.9m $2.6m $2.6m 0.03% Unchanged
26 Calamos Advisors LLC 0.00% of their portfolio NAPERVILLE, IL 847,000847.0k $1.3m $1.3m 0.00% Reduced -12.5m -12,506,000
27 AGF MANAGEMENT LTD 0.00% of their portfolio TORONTO, A6 750,000750.0k $1.2m $1.2m 0.00% Unchanged
28 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 635,000635.0k $988.6k $988.6k 0.00% Reduced -4.3m -4,347,000
29 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 553,000553.0k $872.9k $872.9k 0.00% Reduced -4.8m -4,764,000
30 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 246,000246.0k $383.0k $383.0k 0.00% Reduced -1.3m -1,312,000
31 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 189,000189.0k $293.8k $293.8k 0.00% New
32 Man Group plc 0.00% of their portfolio LONDON, X0 180,000180.0k $280.2k $280.2k 0.00% Unchanged
33 Calamos Wealth Management LLC 0.01% of their portfolio NAPERVILLE, IL 151,000151.0k $234.5k $234.5k 0.01% Added +3.0k +3,000
34 UBS Group AG 0.00% of their portfolio ZURICH, V8 132,000132.0k $205.2k $205.2k 0.00% Added +12.0k +12,000
35 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 100,000100.0k $156.0k $156.0k 0.00% Reduced -2.1m -2,060,000
36 Ares Systematic Credit Ltd 0.09% of their portfolio LONDON, X0 100,000100.0k $155.8k $155.8k 0.09% Reduced -400.0k -400,000
37 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 73,00073.0k $113.5k $113.5k 0.00% Unchanged
38 OPPENHEIMER ASSET MANAGEMENT INC. 0.00% of their portfolio NEW YORK, NY 72,00072.0k $111.9k $111.9k 0.00% New
39 NOMURA HOLDINGS INC 0.01% of their portfolio TOKYO, M0 35,97736.0k $2.9m $2.9m 0.01% Reduced -49.1k -49,080
40 INDEPENDENT FINANCIAL GROUP, LLC 0.00% of their portfolio SAN DIEGO, CA 32,00032.0k $49.7k $49.7k 0.00% New
41 STEPHENS INC /AR/ 0.00% of their portfolio LITTLE ROCK, AR 24,00024.0k $37.3k $37.3k 0.00% New
42 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 17,00017.0k $26.6k $26.6k 0.00% Reduced -6.6m -6,645,000
43 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 11,00011.0k $17.1k $17.1k 0.00% New
44 ODDO BHF ASSET MANAGEMENT SAS 0.02% of their portfolio PARIS, I0 274274 $426.8k $426.8k 0.02% Reduced -100 -100