Vault-13

LIBERTY MEDIA CORP DEL SIRI 3.75 03.15.28

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

32 institutional holders +2 vs Q4 2025
14,400,00014.4m shares reported held*
$586.1mreported value*
8 new 10 added 4 reduced 6 sold out net bought ≈ $39.1m (+7.3m 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 ≈ $40.70.

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0204060Q1 24: 34Q2 24: 41Q3 24: 37Q4 24: 36Q1 25: 38Q2 25: 32Q3 25: 32Q4 25: 30Q1 26: 3232Q1 24Q3 24Q1 25Q3 25Q1 26
Numbers
QuarterHolders
Q1 202434
Q2 202441
Q3 202437
Q4 202436
Q1 202538
Q2 202532
Q3 202532
Q4 202530
Q1 202632

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 outQ3 24: 18 bought or addedQ3 24: 20 cut or sold outQ3 24Q4 24: 16 bought or addedQ4 24: 19 cut or sold outQ1 25: 18 bought or addedQ1 25: 12 cut or sold outQ1 25Q2 25: 15 bought or addedQ2 25: 20 cut or sold outQ3 25: 15 bought or addedQ3 25: 10 cut or sold outQ3 25Q4 25: 12 bought or addedQ4 25: 12 cut or sold outQ1 26: 18 bought or addedQ1 26: 10 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 20242415
Q3 20241820
Q4 20241619
Q1 20251812
Q2 20251520
Q3 20251510
Q4 20251212
Q1 20261810

Biggest buyers

MILLENNIUM MANAGEMENT LLC Added +22,500,000+22.5m
Nuveen, LLC New +12,500,000+12.5m
TWO SIGMA INVESTMENTS, LP Added +10,000,000+10.0m
SSI INVESTMENT MANAGEMENT LLC New +7,750,000+7.8m
Walleye Capital LLC Added +7,500,000+7.5m
SUSQUEHANNA ADVISORS GROUP, INC. New +5,000,000+5.0m
WELLS FARGO & COMPANY/MN Added +3,558,000+3.6m
GOLDMAN SACHS GROUP INC New +2,500,000+2.5m
Cutler Capital Management, LLC Added +2,335,000+2.3m
BlackRock, Inc. Added +2,325,000+2.3m

Biggest sellers

LAZARD ASSET MANAGEMENT LLC Reduced -40,629,000-40.6m
Jump Financial, LLC Sold out -12,500,000-12.5m
SHENKMAN CAPITAL MANAGEMENT INC Sold out -9,408,000-9.4m
BANK OF MONTREAL /CAN/ Reduced -6,056,000-6.1m
SSI INVESTMENT MANAGEMENT LLC Sold out -5,750,000-5.8m
MacKay Shields LLC Reduced -5,117,000-5.1m
TD Asset Management Inc Reduced -400,000-400.0k
CSS LLC/IL Sold out -200,000-200.0k
JPMORGAN CHASE & CO Sold out -145,000-145.0k
BANK OF AMERICA CORP /DE/ Sold out -74,000-74.0k

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Linden Advisors LP 1.44% of their portfolio New York, NY 249,419,000249.4m $257.9m $257.9m 1.44% Unchanged
2 MILLENNIUM MANAGEMENT LLC 0.04% of their portfolio NEW YORK, NY 53,050,00053.0m $54.9m $54.9m 0.04% Added +22.5m +22,500,000
3 TWO SIGMA INVESTMENTS, LP 0.04% of their portfolio NEW YORK, NY 45,881,00045.9m $47.6m $47.6m 0.04% Added +10.0m +10,000,000
4 Walleye Capital LLC 0.21% of their portfolio NEW YORK, NY 32,500,00032.5m $33.9m $33.9m 0.21% Added +7.5m +7,500,000
5 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 25,000,00025.0m $26.0m $26.0m 0.01% Unchanged
6 Alberta Investment Management Corp 0.16% of their portfolio EDMONTON, A0 25,000,00025.0m $25.9m $25.9m 0.16% Unchanged
7 MacKay Shields LLC 0.93% of their portfolio New York, NY 24,458,00024.5m $25.5m $25.5m 0.93% Reduced -5.1m -5,117,000
8 KIM, LLC 2.35% of their portfolio WICHITA, KS 15,400,00015.4m $16.0m $16.0m 2.35% Added +400.0k +400,000
9 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 12,500,00012.5m $13.0m $13.0m 0.00% New
10 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 12,159,00012.2m $12.6m $12.6m 0.00% Added +225.0k +225,000
11 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 11,657,00011.7m $12.2m $12.2m 0.00% Added +3.6m +3,558,000
12 BlackRock, Inc. 0.00% of their portfolio New York, NY 9,019,0009.0m $9.4m $9.4m 0.00% Added +2.3m +2,325,000
13 SSI INVESTMENT MANAGEMENT LLC 0.55% of their portfolio Los Angeles, CA 7,750,0007.8m $8.0m $8.0m 0.55% New
14 Cutler Capital Management, LLC 2.07% of their portfolio WORCESTER, MA 7,223,0007.2m $7.5m $7.5m 2.07% Added +2.3m +2,335,000
15 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 7,127,0007.1m $7.4m $7.4m 0.00% Added +973.0k +973,000
16 ADVENT CAPITAL MANAGEMENT /DE/ 0.16% of their portfolio NEW YORK, NY 5,147,0005.1m $5.4m $5.4m 0.16% Unchanged
17 SUSQUEHANNA ADVISORS GROUP, INC. 0.00% of their portfolio BALA CYNWYD, PA 5,000,0005.0m $51.9k $51.9k 0.00% New
18 ZAZOVE ASSOCIATES LLC 0.23% of their portfolio INCLINE VILLAGE, NV 4,850,0004.8m $4.9m $4.9m 0.23% Added +1.6m +1,550,000
19 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 4,532,0004.5m $47.2k $47.2k 0.00% Reduced -40.6m -40,629,000
20 TD Asset Management Inc 0.00% of their portfolio Toronto, A6 3,400,0003.4m $3.5m $3.5m 0.00% Reduced -400.0k -400,000
21 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 3,000,0003.0m $3.1m $3.1m 0.01% Unchanged
22 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 2,500,0002.5m $2.6m $2.6m 0.00% New
23 Man Group plc 0.00% of their portfolio LONDON, X0 1,750,0001.8m $1.8m $1.8m 0.00% Unchanged
24 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,500,0001.5m $1.6m $1.6m 0.00% Unchanged
25 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 1,500,0001.5m $1.6m $1.6m 0.00% New
26 Jefferies Financial Group Inc. 0.01% of their portfolio NEW YORK, NY 1,000,0001.0m $1.0m $1.0m 0.01% New
27 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 1,000,0001.0m $1.0m $1.0m 0.00% New
28 Ares Systematic Credit Ltd 0.33% of their portfolio LONDON, X0 400,000400.0k $413.9k $413.9k 0.33% Unchanged
29 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 250,000250.0k $259.5k $259.5k 0.00% Unchanged
30 Murchinson Ltd. 0.10% of their portfolio TORONTO, A6 250,000250.0k $259.9k $259.9k 0.10% Unchanged
31 Sprinkle Financial Consultants LLC 0.37% of their portfolio LITTLETON, CO 34,62334.6k $799.1k $799.1k 0.37% New
32 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 2,0002.0k $2.1k $2.1k 0.00% Reduced -6.1m -6,056,000