KAMAN CORP KAMN 3.25 05.01.24

NOTE 3.250% 5/0 · US DOMESTIC · CUSIP 483548AF0

33 institutional holders -1 vs Q4 2023

7,445,1507.4m shares reported held*

$183.7mreported value*

8 new 5 added 9 reduced 11 sold out net sold ≈ $38.2m (-24.7m 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 ≈ $24.68.

Trends to Q1 2024

Institutional holders

Managers reporting a position, each quarter

Numbers

Quarter	Holders
Q3 2022	42
Q4 2022	43
Q1 2023	38
Q2 2023	36
Q3 2023	32
Q4 2023	34
Q1 2024	33

Buyers vs sellers

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

Bought or addedCut or sold out

Numbers

Quarter	Bought or added	Cut or sold out
Q4 2022	11	19
Q1 2023	13	16
Q2 2023	7	11
Q3 2023	8	13
Q4 2023	11	13
Q1 2024	13	20

Biggest buyers

GLAZER CAPITAL, LLC	New	+34,046,000+34.0m
Fort Baker Capital Management LP	New	+22,229,000+22.2m
Kohlberg Kravis Roberts & Co. L.P.	New	+3,945,000+3.9m
WELLS FARGO & COMPANY/MN	New	+3,441,000+3.4m
PIPER SANDLER & CO.	Added	+996,000+996.0k
ROYAL BANK OF CANADA	New	+621,000+621.0k
Cresset Asset Management, LLC	New	+400,000+400.0k
Cetera Investment Advisers	New	+140,000+140.0k
Stordahl Capital Management, Inc.	New	+30,000+30.0k
MORGAN STANLEY	Added	+16,000+16.0k

Biggest sellers

Fort Baker Capital Management LP	Sold out	-22,229,000-22.2m
Context Capital Management, LLC	Sold out	-18,405,000-18.4m
OAKTREE CAPITAL MANAGEMENT LP	Reduced	-15,797,000-15.8m
Wellesley Asset Management	Reduced	-13,049,953-13.0m
ZAZOVE ASSOCIATES LLC	Reduced	-12,071,000-12.1m
LAZARD ASSET MANAGEMENT LLC	Sold out	-10,000,000-10.0m
JPMORGAN CHASE & CO	Sold out	-4,156,000-4.2m
Russell Investments Group, Ltd.	Reduced	-3,284,000-3.3m
Ameritas Investment Partners, Inc.	Sold out	-2,210,000-2.2m
BNP PARIBAS FINANCIAL MARKETS	Sold out	-786,000-786.0k

Holders, Q1 2024

#	Manager	Location	Shares	Value	% of their portfolio	Change	Shares change
1	GLAZER CAPITAL, LLC 3.54% of their portfolio	New York, NY	34,046,00034.0m $34.0m	$34.0m	3.54%	New
2	Crossingbridge Advisors, LLC 20.47% of their portfolio	PLEASANTVILLE, NY	26,676,00026.7m $27.1m	$27.1m	20.47%	First filing
3	Fort Baker Capital Management LP 3.25% of their portfolio	Larkspur, CA	22,229,00022.2m $22.5m	$22.5m	3.25%	New
4	AVIVA PLC 0.06% of their portfolio	LONDON, X0	17,250,00017.2m $17.2m	$17.2m	0.06%	Unchanged
5	Wellesley Asset Management 1.61% of their portfolio	PORTSMOUTH, NH	15,980,00016.0m $15.9m	$15.9m	1.61%	Reduced -13.0m	-13,049,953
6	PALISADE CAPITAL MANAGEMENT, LP 0.23% of their portfolio	FORT LEE, NJ	8,668,0008.7m $8.6m	$8.6m	0.23%	Reduced -350.0k	-350,000
7	MACQUARIE GROUP LTD 0.01% of their portfolio	Sydney, NSW 2000, C3	7,834,0007.8m $7.8m	$7.8m	0.01%	Reduced -575.0k	-575,000
8	Thrivent Financial for Lutherans 0.01% of their portfolio	Minneapolis, MN	6,200,0006.2m $6.2m	$6.2m	0.01%	Reduced -600.0k	-600,000
9	Kohlberg Kravis Roberts & Co. L.P. 0.10% of their portfolio	NEW YORK, NY	3,945,0003.9m $3.9m	$3.9m	0.10%	New
10	SCHRODER INVESTMENT MANAGEMENT GROUP 0.00% of their portfolio	London, X0	3,500,0003.5m $3.5m	$3.5m	0.00%	Unchanged
11	WELLS FARGO & COMPANY/MN 0.00% of their portfolio	SAN FRANCISCO, CA	3,441,0003.4m $3.4m	$3.4m	0.00%	New
12	PIPER SANDLER & CO. 2.29% of their portfolio	MINNEAPOLIS, MN	3,288,0003.3m $3.3m	$3.3m	2.29%	Added +996.0k	+996,000
13	WATER ISLAND CAPITAL LLC 0.34% of their portfolio	NEW YORK, NY	3,000,0003.0m $3.0m	$3.0m	0.34%	Unchanged
14	SSI INVESTMENT MANAGEMENT LLC 0.16% of their portfolio	Los Angeles, CA	2,067,0002.1m $2.1m	$2.1m	0.16%	Unchanged
15	EPIQ PARTNERS, LLC 1.06% of their portfolio	MINNEAPOLIS, MN	1,600,0001.6m $1.6m	$1.6m	1.06%	Reduced -400.0k	-400,000
16	ZAZOVE ASSOCIATES LLC 0.08% of their portfolio	INCLINE VILLAGE, NV	1,126,0001.1m $1.1m	$1.1m	0.08%	Reduced -12.1m	-12,071,000
17	OAKTREE CAPITAL MANAGEMENT LP 0.01% of their portfolio	LOS ANGELES, CA	852,000852.0k $853.1k	$853.1k	0.01%	Reduced -15.8m	-15,797,000
18	ARCADIA INVESTMENT MANAGEMENT CORP/MI 0.12% of their portfolio	KALAMAZOO, MI	645,000645.0k $650.8k	$650.8k	0.12%	Reduced -40.0k	-40,000
19	ROYAL BANK OF CANADA 0.00% of their portfolio	TORONTO, A6	621,000621.0k $619.0k	$619.0k	0.00%	New
20	Cresset Asset Management, LLC 0.00% of their portfolio	Chicago, IL	400,000400.0k $398.2k	$398.2k	0.00%	New
21	Russell Investments Group, Ltd. 0.00% of their portfolio	Seattle, WA	148,000148.0k $149.6k	$149.6k	0.00%	Reduced -3.3m	-3,284,000
22	Cetera Investment Advisers 0.00% of their portfolio	SCHAUMBURG, IL	140,000140.0k $139.7k	$139.7k	0.00%	New
23	D.A. DAVIDSON & CO. 0.11% of their portfolio	GREAT FALLS, MT	120,000120.0k $12.0m	$12.0m	0.11%	Unchanged
24	MORGAN STANLEY 0.00% of their portfolio	NEW YORK, NY	48,00048.0k $47.9k	$47.9k	0.00%	Added +16.0k	+16,000
25	Cerity Partners LLC 0.00% of their portfolio	NEW YORK, NY	30,15030.1k $181.9k	$181.9k	0.00%	Added +150	+150
26	Stordahl Capital Management, Inc. 0.01% of their portfolio	GREENWOOD VILLAGE, CO	30,00030.0k $29.9k	$29.9k	0.01%	New
27	RAYMOND JAMES & ASSOCIATES 0.00% of their portfolio	ST PETERSBURG, FL	27,00027.0k $26.9k	$26.9k	0.00%	Added +12.0k	+12,000
28	COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio	WALTHAM, MA	15,00015.0k $15.0k	$15.0k	0.00%	Unchanged
29	Mariner, LLC 0.00% of their portfolio	Overland Park, KS	15,00015.0k $14.9k	$14.9k	0.00%	Unchanged
30	FORESIGHT CAPITAL MANAGEMENT ADVISORS, INC. 0.01% of their portfolio	SALINE, MI	13,00013.0k $13.0k	$13.0k	0.01%	Unchanged
31	Mason & Associates, LLC 0.01% of their portfolio	NEWPORT NEWS, VA	13,00013.0k $13.0k	$13.0k	0.01%	First filing
32	Chicago Capital Management, LLC 7.66% of their portfolio	CHICAGO, IL	7,2867.3k $7.3m	$7.3m	7.66%	Added +4.6k	+4,612
33	CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio	BIRMINGHAM, AL	00 $0	$0	0.00%	Unchanged