Vault-13

KBR INC KBR 2.5 11.01.23

NOTE 2.500%11/0 · US DOMESTIC · CUSIP 48242WAB2

36 institutional holders -2 vs Q4 2022
20,489,10520.5m shares reported held*
$795.3mreported value*
2 new 12 added 12 reduced 4 sold out net bought ≈ $7.8m (+1.5m 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 ≈ $38.82.

Trends to Q1 2023

Institutional holders

Managers reporting a position, each quarter

02040Q3 22: 35Q4 22: 38Q1 23: 3636Q3 22Q4 22Q1 23
Numbers
QuarterHolders
Q3 202235
Q4 202238
Q1 202336

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q4 22: 16 bought or addedQ4 22: 13 cut or sold outQ4 22Q1 23: 14 bought or addedQ1 23: 16 cut or sold outQ1 23
Numbers
QuarterBought or addedCut or sold out
Q4 20221613
Q1 20231416

Calls vs puts

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

CallsPuts
$0$500k$1m$1.5mQ3 22 calls: $0Q3 22 puts: $1.3mQ3 22P/C —Q4 22 calls: $0Q4 22 puts: $0Q4 22P/C —Q1 23 calls: $0Q1 23 puts: $0Q1 23P/C —
Numbers
QuarterCallsPutsP/C
Q3 2022$0$1.3m—
Q4 2022$0$0—
Q1 2023$0$0—

Biggest buyers

FMR LLC Added +5,207,000+5.2m
Opti Capital Management, LP Added +4,500,000+4.5m
BARCLAYS PLC Added +2,441,000+2.4m
BANK OF AMERICA CORP /DE/ Added +2,191,000+2.2m
JANE STREET GROUP, LLC New +1,484,000+1.5m
BNP PARIBAS FINANCIAL MARKETS Added +1,128,000+1.1m
JPMORGAN CHASE & CO Added +990,000+990.0k
LORD, ABBETT & CO. LLC Added +744,000+744.0k
CITIGROUP INC Added +365,000+365.0k
Warberg Asset Management LLC Added +198,000+198.0k

Biggest sellers

VOYA INVESTMENT MANAGEMENT LLC Reduced -5,495,000-5.5m
SUSQUEHANNA INTERNATIONAL GROUP, LLP Sold out -2,000,000-2.0m
STATE STREET CORP Reduced -1,609,000-1.6m
CITADEL ADVISORS LLC Reduced -1,500,000-1.5m
BlackRock Inc. Reduced -1,450,000-1.4m
SSI INVESTMENT MANAGEMENT LLC Reduced -1,305,000-1.3m
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduced -1,000,000-1.0m
AMERIPRISE FINANCIAL INC Reduced -537,000-537.0k
PALISADE CAPITAL MANAGEMENT, LP Reduced -350,000-350.0k
Zurcher Kantonalbank (Zurich Cantonalbank) Sold out -325,000-325.0k

Holders, Q1 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 CITADEL ADVISORS LLC 0.13% of their portfolio MIAMI, FL 52,750,00052.8m $115.1m $115.1m 0.13% Reduced -1.5m -1,500,000
2 Opti Capital Management, LP 8.42% of their portfolio New York, NY 47,650,00047.6m $104.2m $104.2m 8.42% Added +4.5m +4,500,000
3 CAPSTONE INVESTMENT ADVISORS, LLC 2.32% of their portfolio NEW YORK, NY 34,478,00034.5m $75.0m $75.0m 2.32% Unchanged
4 TENOR CAPITAL MANAGEMENT Co., L.P. 0.87% of their portfolio NEW YORK, NY 20,053,00020.1m $43.9m $43.9m 0.87% Unchanged
5 Man Group plc 0.14% of their portfolio LONDON, X0 18,498,00018.5m $40.4m $40.4m 0.14% Unchanged
6 VOYA INVESTMENT MANAGEMENT LLC 0.04% of their portfolio ATLANTA, GA 17,100,00017.1m $37.2m $37.2m 0.04% Reduced -5.5m -5,495,000
7 LORD, ABBETT & CO. LLC 0.06% of their portfolio JERSEY CITY, NJ 15,584,00015.6m $33.9m $33.9m 0.06% Added +744.0k +744,000
8 Thrivent Financial for Lutherans 0.07% of their portfolio Minneapolis, MN 13,338,00013.3m $29.3m $29.3m 0.07% Added +50.0k +50,000
9 Alberta Investment Management Corp 0.26% of their portfolio EDMONTON, A0 12,000,00012.0m $26.3m $26.3m 0.26% Unchanged
10 FMR LLC 0.00% of their portfolio BOSTON, MA 11,934,00011.9m $25.9m $25.9m 0.00% Added +5.2m +5,207,000
11 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio NEW YORK, NY 11,000,00011.0m $23.8m $23.8m 0.01% Reduced -1.0m -1,000,000
12 BNP PARIBAS FINANCIAL MARKETS 0.04% of their portfolio PARIS, I0 7,770,0007.8m $17.0m $17.0m 0.04% Added +1.1m +1,128,000
13 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 7,054,0007.1m $15.4m $15.4m 0.00% Reduced -1.6m -1,609,000
14 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 6,430,0006.4m $14.0m $14.0m 0.00% Unchanged
15 ABSOLUTE INVESTMENT ADVISERS, LLC 1.81% of their portfolio ROSEMARY BEACH, FL 5,620,0005.6m $12.2m $12.2m 1.81% Unchanged
16 BARCLAYS PLC 0.01% of their portfolio LONDON, X0 5,198,0005.2m $11.3m $11.3m 0.01% Added +2.4m +2,441,000
17 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 4,897,0004.9m $10.6m $10.6m 0.00% Added +2.2m +2,191,000
18 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 3,040,0003.0m $6.6m $6.6m 0.00% Reduced -537.0k -537,000
19 SSI INVESTMENT MANAGEMENT LLC 0.44% of their portfolio Los Angeles, CA 2,860,0002.9m $6.2m $6.2m 0.44% Reduced -1.3m -1,305,000
20 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 2,045,0002.0m $4.4m $4.4m 0.00% Added +990.0k +990,000
21 BlackRock Inc. 0.00% of their portfolio New York, NY 1,990,0002.0m $4.3m $4.3m 0.00% Reduced -1.4m -1,450,000
22 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 1,484,0001.5m $3.2m $3.2m 0.01% New
23 ZAZOVE ASSOCIATES LLC 0.25% of their portfolio INCLINE VILLAGE, NV 1,250,0001.2m $2.7m $2.7m 0.25% Unchanged
24 Periscope Capital Inc. 0.13% of their portfolio Toronto, A6 1,250,0001.2m $2.7m $2.7m 0.13% Unchanged
25 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 1,188,0001.2m $2.6m $2.6m 0.00% Added +365.0k +365,000
26 PALISADE CAPITAL MANAGEMENT, LP 0.04% of their portfolio FORT LEE, NJ 650,000650.0k $1.4m $1.4m 0.04% Reduced -350.0k -350,000
27 Warberg Asset Management LLC 0.30% of their portfolio WINNETKA, IL 464,000464.0k $1.0m $1.0m 0.30% Added +198.0k +198,000
28 BANK OF NOVA SCOTIA 0.14% of their portfolio TORONTO, A6 219,933219.9k $47.8m $47.8m 0.14% Added +13.4k +13,392
29 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 82,00082.0k $178.5k $178.5k 0.00% Reduced -32.0k -32,000
30 FIRST HAWAIIAN BANK 0.00% of their portfolio HONOLULU, HI 56,00056.0k $121.6k $121.6k 0.00% Reduced -27.0k -27,000
31 Boussard & Gavaudan Investment Management LLP 6.15% of their portfolio London, X0 30,06430.1k $65.2m $65.2m 6.15% Reduced -1.0k -1,000
32 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 12,00012.0k $26.1k $26.1k 0.00% Added +1.0k +1,000
33 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 12,00012.0k $26.1k $26.1k 0.00% Unchanged
34 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 2,8252.8k $6.2m $6.2m 0.01% Reduced -175 -175
35 NATIXIS 0.04% of their portfolio PARIS, I0 2,2162.2k $4.8m $4.8m 0.04% New
36 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged