Vault-13

LIBERTY MEDIA CORP DEL SIRI 3.75 03.15.28

NOTE 3.750% 3/1 · US DOMESTIC · CUSIP 531229AP7

32 institutional holders +0 vs Q2 2025
3,250,0003.2m shares reported held*
$580.8mreported value*
5 new 10 added 6 reduced 4 sold out net sold ≈ $17.7m (+3.0m 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 ≈ $178.70.

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q1 24: 34Q2 24: 41Q3 24: 37Q4 24: 36Q1 25: 38Q2 25: 32Q3 25: 3232Q1 24Q3 24Q1 25Q3 25
Numbers
QuarterHolders
Q1 202434
Q2 202441
Q3 202437
Q4 202436
Q1 202538
Q2 202532
Q3 202532

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q2 24: 24 bought or addedQ2 24: 15 cut or sold outQ2 24Q3 24: 18 bought or addedQ3 24: 20 cut or sold outQ3 24Q4 24: 16 bought or addedQ4 24: 19 cut or sold outQ4 24Q1 25: 18 bought or addedQ1 25: 12 cut or sold outQ1 25Q2 25: 15 bought or addedQ2 25: 20 cut or sold outQ2 25Q3 25: 15 bought or addedQ3 25: 10 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q2 20242415
Q3 20241820
Q4 20241619
Q1 20251812
Q2 20251520
Q3 20251510

Biggest buyers

MILLENNIUM MANAGEMENT LLC Added +13,750,000+13.8m
TWO SIGMA INVESTMENTS, LP New +13,255,000+13.3m
Walleye Capital LLC Added +5,000,000+5.0m
STATE OF WISCONSIN INVESTMENT BOARD New +3,000,000+3.0m
Jump Financial, LLC New +2,500,000+2.5m
CSS LLC/IL New +2,500,000+2.5m
Jefferies Financial Group Inc. Added +1,640,000+1.6m
KIM, LLC Added +1,400,000+1.4m
Linden Advisors LP Added +1,100,000+1.1m
Cutler Capital Management, LLC Added +995,000+995.0k

Biggest sellers

LAZARD ASSET MANAGEMENT LLC Reduced -17,233,000-17.2m
HBK INVESTMENTS L P Sold out -14,600,000-14.6m
TORONTO DOMINION BANK Reduced -9,343,000-9.3m
JPMORGAN CHASE & CO Sold out -9,125,000-9.1m
UBS Group AG Sold out -6,985,000-7.0m
CITADEL ADVISORS LLC Reduced -3,000,000-3.0m
RWC Asset Management LLP Reduced -1,815,000-1.8m
DEUTSCHE BANK AG\ Reduced -1,000,000-1.0m
Zurcher Kantonalbank (Zurich Cantonalbank) Sold out -500,000-500.0k
WELLS FARGO & COMPANY/MN Reduced -225,000-225.0k

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Linden Advisors LP 1.95% of their portfolio New York, NY 279,310,000279.3m $292.0m $292.0m 1.95% Added +1.1m +1,100,000
2 CITADEL ADVISORS LLC 0.05% of their portfolio MIAMI, FL 59,350,00059.4m $62.1m $62.1m 0.05% Reduced -3.0m -3,000,000
3 MacKay Shields LLC 1.06% of their portfolio New York, NY 29,835,00029.8m $31.2m $31.2m 1.06% Unchanged
4 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 25,000,00025.0m $26.1m $26.1m 0.01% Unchanged
5 Alberta Investment Management Corp 0.19% of their portfolio EDMONTON, A0 25,000,00025.0m $26.2m $26.2m 0.19% Unchanged
6 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 24,550,00024.6m $25.7m $25.7m 0.02% Added +13.8m +13,750,000
7 TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio NEW YORK, NY 13,255,00013.3m $13.8m $13.8m 0.02% New
8 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 12,208,00012.2m $127.6k $127.6k 0.00% Reduced -17.2m -17,233,000
9 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 11,934,00011.9m $12.5m $12.5m 0.00% Added +900.0k +900,000
10 Walleye Capital LLC 0.08% of their portfolio NEW YORK, NY 10,000,00010.0m $10.4m $10.4m 0.08% Added +5.0m +5,000,000
11 SHENKMAN CAPITAL MANAGEMENT INC 0.93% of their portfolio NEW YORK, NY 8,866,0008.9m $9.5m $9.5m 0.93% Added +555.0k +555,000
12 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 8,559,0008.6m $8.9m $8.9m 0.00% Reduced -225.0k -225,000
13 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 7,298,0007.3m $7.6m $7.6m 0.00% Unchanged
14 KIM, LLC 0.75% of their portfolio WICHITA, KS 6,400,0006.4m $6.7m $6.7m 0.75% Added +1.4m +1,400,000
15 SSI INVESTMENT MANAGEMENT LLC 0.41% of their portfolio Los Angeles, CA 5,750,0005.8m $6.0m $6.0m 0.41% Unchanged
16 BlackRock, Inc. 0.00% of their portfolio New York, NY 5,694,0005.7m $5.9m $5.9m 0.00% Added +125.0k +125,000
17 ADVENT CAPITAL MANAGEMENT /DE/ 0.12% of their portfolio NEW YORK, NY 5,147,0005.1m $5.4m $5.4m 0.12% Unchanged
18 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 4,654,0004.7m $4.9m $4.9m 0.00% Reduced -1.0m -1,000,000
19 Jefferies Financial Group Inc. 0.04% of their portfolio NEW YORK, NY 4,148,0004.1m $4.3m $4.3m 0.04% Added +1.6m +1,640,000
20 Cutler Capital Management, LLC 1.18% of their portfolio WORCESTER, MA 3,533,0003.5m $3.7m $3.7m 1.18% Added +995.0k +995,000
21 ZAZOVE ASSOCIATES LLC 0.31% of their portfolio INCLINE VILLAGE, NV 3,300,0003.3m $3.5m $3.5m 0.31% Unchanged
22 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 3,000,0003.0m $3.1m $3.1m 0.01% New
23 CSS LLC/IL 0.16% of their portfolio CHICAGO, IL 2,500,0002.5m $2.6m $2.6m 0.16% New
24 Jump Financial, LLC 0.03% of their portfolio Chicago, IL 2,500,0002.5m $2.6m $2.6m 0.03% New
25 Man Group plc 0.00% of their portfolio LONDON, X0 2,100,0002.1m $2.2m $2.2m 0.00% Unchanged
26 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,500,0001.5m $1.6m $1.6m 0.00% Unchanged
27 TORONTO DOMINION BANK 0.00% of their portfolio TORONTO, ONTARIO, A6 719,000719.0k $748.2k $748.2k 0.00% Reduced -9.3m -9,343,000
28 RWC Asset Management LLP 0.03% of their portfolio LONDON, X0 685,000685.0k $714.8k $714.8k 0.03% Reduced -1.8m -1,815,000
29 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 250,000250.0k $260.6k $260.6k 0.00% Unchanged
30 Murchinson Ltd. 0.05% of their portfolio TORONTO, A6 250,000250.0k $262.7k $262.7k 0.05% Unchanged
31 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 156,000156.0k $162.6k $162.6k 0.00% Added +136.0k +136,000
32 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 9,0009.0k $9.4k $9.4k 0.00% New