Vault-13

LCI INDS LCII 1.125 05.15.26

NOTE 1.125% 5/1 · US DOMESTIC · CUSIP 501812AB7

29 institutional holders +2 vs Q1 2025
11,028,00011.0m shares reported held*
$85.2mreported value*
7 new 5 added 3 reduced 5 sold out net bought ≈ $226.9k (+1.2m 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 ($54.2k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $7.73.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 57Q4 22: 53Q1 23: 56Q2 23: 54Q3 23: 58Q4 23: 60Q1 24: 53Q2 24: 52Q3 24: 45Q4 24: 42Q1 25: 27Q2 25: 2929Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202257
Q4 202253
Q1 202356
Q2 202354
Q3 202358
Q4 202360
Q1 202453
Q2 202452
Q3 202445
Q4 202442
Q1 202527
Q2 202529

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 23: 27 bought or addedQ3 23: 19 cut or sold outQ4 23: 27 bought or addedQ4 23: 22 cut or sold outQ4 23Q1 24: 26 bought or addedQ1 24: 29 cut or sold outQ2 24: 22 bought or addedQ2 24: 19 cut or sold outQ2 24Q3 24: 19 bought or addedQ3 24: 21 cut or sold outQ4 24: 14 bought or addedQ4 24: 17 cut or sold outQ4 24Q1 25: 7 bought or addedQ1 25: 30 cut or sold outQ2 25: 12 bought or addedQ2 25: 8 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20232719
Q4 20232722
Q1 20242629
Q2 20242219
Q3 20241921
Q4 20241417
Q1 2025730
Q2 2025128

Biggest buyers

WELLS FARGO & COMPANY/MN Added +2,238,000+2.2m
ABSOLUTE INVESTMENT ADVISERS, LLC Added +1,217,000+1.2m
JPMORGAN CHASE & CO Added +164,000+164.0k
OAKTREE CAPITAL MANAGEMENT LP New +161,000+161.0k
Russell Investments Group, Ltd. New +127,000+127.0k
Capital Investment Advisory Services, LLC New +55,000+55.0k
BANK OF AMERICA CORP /DE/ New +55,000+55.0k
Cerity Partners LLC New +39,000+39.0k
BNP PARIBAS FINANCIAL MARKETS Added +38,000+38.0k
ROYAL BANK OF CANADA Added +10,000+10.0k

Biggest sellers

SHENKMAN CAPITAL MANAGEMENT INC Sold out -1,906,000-1.9m
Wellesley Asset Management Reduced -1,623,000-1.6m
AMERICAN CENTURY COMPANIES INC Sold out -237,000-237.0k
B. Riley Wealth Advisors, Inc. Sold out -55,000-55.0k
Cutler Capital Management, LLC Reduced -30,000-30.0k
COMERICA BANK Sold out -15,000-15.0k
FORESIGHT CAPITAL MANAGEMENT ADVISORS, INC. Reduced -11,000-11.0k
Intellectus Partners, LLC Sold out -292-292

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Wellesley Asset Management 2.83% of their portfolio PORTSMOUTH, NH 30,591,00030.6m $29.7m $29.7m 2.83% Reduced -1.6m -1,623,000
2 TENOR CAPITAL MANAGEMENT Co., L.P. 0.14% of their portfolio NEW YORK, NY 10,728,00010.7m $10.4m $10.4m 0.14% Unchanged
3 Opti Capital Management, LP 0.50% of their portfolio New York, NY 9,152,0009.2m $8.9m $8.9m 0.50% Unchanged
4 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 7,504,0007.5m $7.2m $7.2m 0.00% Added +2.2m +2,238,000
5 ABSOLUTE INVESTMENT ADVISERS, LLC 0.86% of their portfolio ROSEMARY BEACH, FL 7,217,0007.2m $7.0m $7.0m 0.86% Added +1.2m +1,217,000
6 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 5,860,0005.9m $5.6m $5.6m 0.00% Added +164.0k +164,000
7 LAZARD ASSET MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 5,615,0005.6m $5.4m $5.4m 0.01% Unchanged
8 OFI INVEST ASSET MANAGEMENT 0.08% of their portfolio ISSY LES MOULINEAUX, I0 3,700,0003.7m $3.1m $3.1m 0.08% Unchanged
9 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 2,700,0002.7m $2.6m $2.6m 0.00% Unchanged
10 Cutler Capital Management, LLC 0.47% of their portfolio WORCESTER, MA 1,390,0001.4m $1.3m $1.3m 0.47% Reduced -30.0k -30,000
11 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 1,378,0001.4m $1.3m $1.3m 0.00% Added +38.0k +38,000
12 Pinnacle Holdings, LLC 0.42% of their portfolio TULSA, OK 1,215,0001.2m $1.2m $1.2m 0.42% Unchanged
13 Man Group plc 0.00% of their portfolio LONDON, X0 430,000430.0k $416.8k $416.8k 0.00% Unchanged
14 Jefferies Financial Group Inc. 0.00% of their portfolio NEW YORK, NY 200,000200.0k $191.8k $191.8k 0.00% Unchanged
15 OAKTREE CAPITAL MANAGEMENT LP 0.00% of their portfolio LOS ANGELES, CA 161,000161.0k $155.5k $155.5k 0.00% New
16 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 127,000127.0k $122.9k $122.9k 0.00% New
17 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 55,00055.0k $52.9k $52.9k 0.00% New
18 Capital Investment Advisory Services, LLC 0.00% of their portfolio RALEIGH, NC 55,00055.0k $52.9k $52.9k 0.00% New
19 Mariner, LLC 0.00% of their portfolio Overland Park, KS 47,00047.0k $45.5k $45.5k 0.00% Unchanged
20 VIRTUS ADVISERS, LLC 0.03% of their portfolio HARTFORD, CT 47,00047.0k $45.2k $45.2k 0.03% Unchanged
21 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 39,00039.0k $37.8k $37.8k 0.00% New
22 CHOREO, LLC 0.00% of their portfolio ROCKFORD, IL 25,00025.0k $24.1k $24.1k 0.00% Unchanged
23 FORESIGHT CAPITAL MANAGEMENT ADVISORS, INC. 0.01% of their portfolio SALINE, MI 21,00021.0k $20.3k $20.3k 0.01% Reduced -11.0k -11,000
24 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 20,00020.0k $20.0k $20.0k 0.00% Added +10.0k +10,000
25 Blue Trust, Inc. 0.00% of their portfolio BRENTWOOD, TN 19,00019.0k $18.3k $18.3k 0.00% Unchanged
26 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 12,00012.0k $11.5k $11.5k 0.00% Unchanged
27 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 8,0008.0k $7.7k $7.7k 0.00% New
28 Intellectus Partners, LLC 0.06% of their portfolio SAN FRANCISCO, CA 292292 $281.3k $281.3k 0.06% New
29 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged