Vault-13

KBR INC KBR 2.5 11.01.23

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

26 institutional holders -9 vs Q2 2023
8,362,0008.4m shares reported held*
$566.9mreported value*
2 new 7 added 10 reduced 11 sold out net bought ≈ $2.4m (-2.2m 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 ≈ $67.79.

Trends to Q3 2023

Institutional holders

Managers reporting a position, each quarter

02040Q3 22: 35Q4 22: 38Q1 23: 36Q2 23: 35Q3 23: 2626Q3 22Q4 22Q1 23Q2 23Q3 23
Numbers
QuarterHolders
Q3 202235
Q4 202238
Q1 202336
Q2 202335
Q3 202326

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 22: 16 bought or addedQ4 22: 13 cut or sold outQ4 22Q1 23: 14 bought or addedQ1 23: 16 cut or sold outQ1 23Q2 23: 13 bought or addedQ2 23: 17 cut or sold outQ2 23Q3 23: 9 bought or addedQ3 23: 21 cut or sold outQ3 23
Numbers
QuarterBought or addedCut or sold out
Q4 20221613
Q1 20231416
Q2 20231317
Q3 2023921

Biggest buyers

Elequin Capital, LP Added +38,197,000+38.2m
PIPER SANDLER & CO. Added +29,398,000+29.4m
D. E. Shaw & Co., Inc. Added +27,287,000+27.3m
JPMORGAN CHASE & CO Added +2,722,000+2.7m
Warberg Asset Management LLC Added +1,266,000+1.3m
BANK OF NOVA SCOTIA Added +1,000,000+1.0m
WELLS FARGO & COMPANY/MN New +305,000+305.0k
JANE STREET GROUP, LLC New +100,000+100.0k
AMERICAN CENTURY COMPANIES INC Added +40,000+40.0k

Biggest sellers

Opti Capital Management, LP Sold out -30,453,000-30.5m
Man Group plc Sold out -15,498,000-15.5m
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sold out -11,000,000-11.0m
BNP PARIBAS FINANCIAL MARKETS Reduced -10,106,000-10.1m
LORD, ABBETT & CO. LLC Reduced -7,208,000-7.2m
Invesco Ltd. Reduced -5,000,000-5.0m
VOYA INVESTMENT MANAGEMENT LLC Sold out -4,600,000-4.6m
AMERIPRISE FINANCIAL INC Sold out -3,040,000-3.0m
MILLENNIUM MANAGEMENT LLC Sold out -2,825,000-2.8m
FMR LLC Reduced -2,686,000-2.7m

Holders, Q3 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Elequin Capital, LP 23.70% of their portfolio NEW YORK, NY 52,078,00052.1m $122.2m $122.2m 23.70% Added +38.2m +38,197,000
2 D. E. Shaw & Co., Inc. 0.16% of their portfolio New York, NY 40,958,00041.0m $96.2m $96.2m 0.16% Added +27.3m +27,287,000
3 PIPER SANDLER & CO. 72.52% of their portfolio MINNEAPOLIS, MN 33,398,00033.4m $76.6m $76.6m 72.52% Added +29.4m +29,398,000
4 BANK OF NOVA SCOTIA 0.17% of their portfolio TORONTO, A6 26,681,00026.7m $62.8m $62.8m 0.17% Added +1.0m +1,000,000
5 CAPSTONE INVESTMENT ADVISORS, LLC 1.53% of their portfolio NEW YORK, NY 24,478,00024.5m $57.6m $57.6m 1.53% Unchanged
6 Warberg Asset Management LLC 11.64% of their portfolio WINNETKA, IL 15,790,00015.8m $37.3m $37.3m 11.64% Added +1.3m +1,266,000
7 Alberta Investment Management Corp 0.30% of their portfolio EDMONTON, A0 12,000,00012.0m $28.2m $28.2m 0.30% Unchanged
8 LORD, ABBETT & CO. LLC 0.04% of their portfolio JERSEY CITY, NJ 9,242,0009.2m $21.7m $21.7m 0.04% Reduced -7.2m -7,208,000
9 Thrivent Financial for Lutherans 0.05% of their portfolio Minneapolis, MN 8,250,0008.2m $19.4m $19.4m 0.05% Reduced -2.3m -2,288,000
10 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 6,204,0006.2m $14.6m $14.6m 0.00% Reduced -1.4m -1,400,000
11 FMR LLC 0.00% of their portfolio BOSTON, MA 3,281,0003.3m $7.7m $7.7m 0.00% Reduced -2.7m -2,686,000
12 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 2,944,0002.9m $6.9m $6.9m 0.00% Added +2.7m +2,722,000
13 SSI INVESTMENT MANAGEMENT LLC 0.49% of their portfolio Los Angeles, CA 2,539,0002.5m $6.0m $6.0m 0.49% Reduced -321.0k -321,000
14 BlackRock Inc. 0.00% of their portfolio New York, NY 1,690,0001.7m $4.0m $4.0m 0.00% Reduced -300.0k -300,000
15 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 1,526,0001.5m $3.6m $3.6m 0.00% Reduced -5.0m -5,000,000
16 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 305,000305.0k $719.7k $719.7k 0.00% New
17 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 276,000276.0k $645.7k $645.7k 0.00% Reduced -10.1m -10,106,000
18 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 167,000167.0k $393.1k $393.1k 0.00% Added +40.0k +40,000
19 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 100,000100.0k $233.8k $233.8k 0.00% New
20 FIRST HAWAIIAN BANK 0.00% of their portfolio HONOLULU, HI 56,00056.0k $131.5k $131.5k 0.00% Unchanged
21 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 22,00022.0k $51.7k $51.7k 0.00% Reduced -1.2m -1,171,000
22 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 12,00012.0k $28.2k $28.2k 0.00% Unchanged
23 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 11,00011.0k $25.5k $25.5k 0.00% Unchanged
24 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 6,0006.0k $14.1k $14.1k 0.00% Reduced -226.0k -226,000
25 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 4,0004.0k $9.4k $9.4k 0.00% Unchanged
26 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged