Vault-13

LIVE NATION ENTERTAINMENT IN LYV 3.125 01.15.29

NOTE 3.125% 1/1 · US DOMESTIC · CUSIP 538034BA6

76 institutional holders -7 vs Q2 2025
2,804,9222.8m shares reported held*
$1.5bnreported value*
8 new 22 added 28 reduced 14 sold out net sold ≈ $39.4m (-22.9m 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 ≈ $548.78.

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

050100Q4 23: 1Q1 24: 72Q2 24: 69Q3 24: 67Q4 24: 78Q1 25: 75Q2 25: 83Q3 25: 7676Q4 23Q2 24Q4 24Q2 25Q3 25
Numbers
QuarterHolders
Q4 20231
Q1 202472
Q2 202469
Q3 202467
Q4 202478
Q1 202575
Q2 202583
Q3 202576

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q1 24: 70 bought or addedQ1 24: 1 cut or sold outQ1 24Q2 24: 30 bought or addedQ2 24: 33 cut or sold outQ3 24: 21 bought or addedQ3 24: 36 cut or sold outQ3 24Q4 24: 33 bought or addedQ4 24: 41 cut or sold outQ1 25: 32 bought or addedQ1 25: 40 cut or sold outQ1 25Q2 25: 42 bought or addedQ2 25: 36 cut or sold outQ3 25: 30 bought or addedQ3 25: 42 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024701
Q2 20243033
Q3 20242136
Q4 20243341
Q1 20253240
Q2 20254236
Q3 20253042

Biggest buyers

Polar Asset Management Partners Inc. Added +40,000,000+40.0m
LMR Partners LLP Added +36,500,000+36.5m
Opti Capital Management, LP Added +35,500,000+35.5m
CSS LLC/IL Added +33,672,000+33.7m
Aequim Alternative Investments LP Added +25,500,000+25.5m
Clearbridge Investments, LLC New +20,347,000+20.3m
CITADEL ADVISORS LLC Added +19,000,000+19.0m
Point72 Asset Management, L.P. New +18,500,000+18.5m
JPMORGAN CHASE & CO Added +15,217,000+15.2m
SILVERBACK ASSET MANAGEMENT LLC Added +12,150,000+12.2m

Biggest sellers

D. E. Shaw & Co., Inc. Sold out -105,200,000-105.2m
AQR Arbitrage LLC Sold out -53,150,000-53.1m
WOLVERINE ASSET MANAGEMENT LLC Reduced -53,000,000-53.0m
Sculptor Capital LP Sold out -22,500,000-22.5m
Clearbridge Investments, LLC Sold out -20,347,000-20.3m
UBS Group AG Reduced -16,999,340-17.0m
TWO SIGMA INVESTMENTS, LP Reduced -7,500,000-7.5m
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Sold out -7,500,000-7.5m
Mint Tower Capital Management B.V. Sold out -7,250,000-7.2m
BlackRock, Inc. Reduced -5,885,000-5.9m

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Polar Asset Management Partners Inc. 4.60% of their portfolio TORONTO, A6 140,000,000140.0m $227.2m $227.2m 4.60% Added +40.0m +40,000,000
2 Opti Capital Management, LP 7.38% of their portfolio New York, NY 72,825,00072.8m $118.1m $118.1m 7.38% Added +35.5m +35,500,000
3 CITADEL ADVISORS LLC 0.08% of their portfolio MIAMI, FL 59,000,00059.0m $95.7m $95.7m 0.08% Added +19.0m +19,000,000
4 LMR Partners LLP 1.15% of their portfolio LONDON, X0 55,000,00055.0m $89.1m $89.1m 1.15% Added +36.5m +36,500,000
5 CSS LLC/IL 4.37% of their portfolio CHICAGO, IL 45,256,00045.3m $73.4m $73.4m 4.37% Added +33.7m +33,672,000
6 Alberta Investment Management Corp 0.50% of their portfolio EDMONTON, A0 42,500,00042.5m $68.9m $68.9m 0.50% Added +5.0m +5,000,000
7 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 36,502,00036.5m $59.2m $59.2m 0.00% Added +15.2m +15,217,000
8 Jain Global LLC 0.74% of their portfolio NEW YORK, NY 35,000,00035.0m $56.7m $56.7m 0.74% Added +10.0m +10,000,000
9 Aequim Alternative Investments LP 1.24% of their portfolio MILL VALLEY, CA 34,500,00034.5m $55.7m $55.7m 1.24% Added +25.5m +25,500,000
10 TWO SIGMA INVESTMENTS, LP 0.08% of their portfolio NEW YORK, NY 32,000,00032.0m $51.6m $51.6m 0.08% Reduced -7.5m -7,500,000
11 CAMDEN ASSET MANAGEMENT L P /CA 0.89% of their portfolio Los Angeles, CA 24,975,00025.0m $40.3m $40.3m 0.89% Reduced -1.0m -1,000,000
12 Clearbridge Investments, LLC 0.00% of their portfolio NEW YORK, NY 20,347,00020.3m $3.3m $3.3m 0.00% New
13 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 20,135,00020.1m $32.8m $32.8m 0.00% Added +985.0k +985,000
14 TENOR CAPITAL MANAGEMENT Co., L.P. 0.41% of their portfolio NEW YORK, NY 19,000,00019.0m $31.0m $31.0m 0.41% Unchanged
15 Point72 Asset Management, L.P. 0.07% of their portfolio STAMFORD, CT 18,500,00018.5m $30.0m $30.0m 0.07% New
16 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 18,142,00018.1m $29.4m $29.4m 0.01% Added +1.4m +1,369,000
17 MARSHALL WACE, LLP 0.03% of their portfolio LONDON, X0 18,000,00018.0m $29.2m $29.2m 0.03% Reduced -5.0m -5,000,000
18 Calamos Advisors LLC 0.10% of their portfolio NAPERVILLE, IL 15,738,00015.7m $25.5m $25.5m 0.10% Reduced -142.0k -142,000
19 LORD, ABBETT & CO. LLC 0.07% of their portfolio JERSEY CITY, NJ 13,708,00013.7m $22.1m $22.1m 0.07% Reduced -120.0k -120,000
20 SILVERBACK ASSET MANAGEMENT LLC 2.86% of their portfolio DURHAM, NC 13,632,00013.6m $22.1m $22.1m 2.86% Added +12.2m +12,150,000
21 FMR LLC 0.00% of their portfolio BOSTON, MA 12,575,00012.6m $20.3m $20.3m 0.00% Reduced -590.0k -590,000
22 READYSTATE ASSET MANAGEMENT LP 0.98% of their portfolio CHICAGO, IL 12,500,00012.5m $20.2m $20.2m 0.98% Unchanged
23 BlackRock, Inc. 0.00% of their portfolio New York, NY 11,385,00011.4m $18.4m $18.4m 0.00% Reduced -5.9m -5,885,000
24 Thrivent Financial for Lutherans 0.04% of their portfolio Minneapolis, MN 11,256,00011.3m $18.2m $18.2m 0.04% Reduced -600.0k -600,000
25 WOLVERINE ASSET MANAGEMENT LLC 0.26% of their portfolio CHICAGO, IL 10,884,00010.9m $17.7m $17.7m 0.26% Reduced -53.0m -53,000,000
26 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 10,680,00010.7m $17.4m $17.4m 0.00% Reduced -105.0k -105,000
27 Warberg Asset Management LLC 4.81% of their portfolio WINNETKA, IL 10,564,00010.6m $17.1m $17.1m 4.81% Added +4.5m +4,517,000
28 BANK OF NOVA SCOTIA 0.03% of their portfolio TORONTO, A6 10,000,00010.0m $16.3m $16.3m 0.03% Added +2.5m +2,500,000
29 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 10,000,00010.0m $16.2m $16.2m 0.01% Added +5.0m +5,000,000
30 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 10,000,00010.0m $16.2m $16.2m 0.01% New
31 PICTON MAHONEY ASSET MANAGEMENT 0.21% of their portfolio Toronto, A6 10,000,00010.0m $16.2m $16.2m 0.21% New
32 M&G PLC 0.08% of their portfolio London, X0 9,050,0009.1m $14.7m $14.7m 0.08% Reduced -2.7m -2,746,000
33 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 6,500,0006.5m $10.5m $10.5m 0.00% Unchanged
34 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 6,487,0006.5m $10.5m $10.5m 0.00% Reduced -1.9m -1,875,000
35 VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio ATLANTA, GA 5,700,0005.7m $9.2m $9.2m 0.01% Unchanged
36 SSI INVESTMENT MANAGEMENT LLC 0.59% of their portfolio Los Angeles, CA 5,400,0005.4m $8.7m $8.7m 0.59% Added +166.0k +166,000
37 Parallax Volatility Advisers, L.P. 0.25% of their portfolio San Francisco, CA 5,250,0005.2m $8.5m $8.5m 0.25% Added +250.0k +250,000
38 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio FRANKFURT AM MAIN, 2M 5,250,0005.2m $8.5m $8.5m 0.01% Added +250.0k +250,000
39 MacKay Shields LLC 0.27% of their portfolio New York, NY 4,885,0004.9m $7.9m $7.9m 0.27% Reduced -175.0k -175,000
40 ADVENT CAPITAL MANAGEMENT /DE/ 0.18% of their portfolio NEW YORK, NY 4,854,0004.9m $7.8m $7.8m 0.18% Reduced -895.0k -895,000
41 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 4,746,0004.7m $7.7m $7.7m 0.01% Reduced -568.0k -568,000
42 Union Bancaire Privee, UBP SA 0.09% of their portfolio GENEVA 1, V8 4,356,0004.4m $6.0m $6.0m 0.09% Reduced -1.0m -1,025,000
43 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 3,503,0003.5m $5.7m $5.7m 0.00% Unchanged
44 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 3,186,0003.2m $5.2m $5.2m 0.00% Reduced -4.9m -4,890,000
45 Nicholas Investment Partners, LP 0.37% of their portfolio RANCHO SANTA FE, CA 3,000,0003.0m $4.8m $4.8m 0.37% Unchanged
46 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 2,787,0002.8m $4.5m $4.5m 0.00% Reduced -247.0k -247,000
47 PALISADE CAPITAL MANAGEMENT, LP 0.10% of their portfolio FORT LEE, NJ 2,257,0002.3m $3.7m $3.7m 0.10% Unchanged
48 WESTWOOD HOLDINGS GROUP INC 0.02% of their portfolio DALLAS, TX 2,000,0002.0m $3.3m $3.3m 0.02% Unchanged
49 Universal- Beteiligungs- und Servicegesellschaft mbH 0.01% of their portfolio FRANKFURT AM MAIN, 2M 1,966,0002.0m $3.2m $3.2m 0.01% Reduced -1.7m -1,710,000
50 OFI INVEST ASSET MANAGEMENT 0.06% of their portfolio ISSY LES MOULINEAUX, I0 1,900,0001.9m $2.6m $2.6m 0.06% Unchanged
51 Man Group plc 0.01% of their portfolio LONDON, X0 1,750,0001.8m $2.8m $2.8m 0.01% Reduced -550.0k -550,000
52 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 1,697,0001.7m $2.7m $2.7m 0.00% Reduced -2.4m -2,403,000
53 Jefferies Financial Group Inc. 0.02% of their portfolio NEW YORK, NY 1,552,0001.6m $2.5m $2.5m 0.02% New
54 Kohlberg Kravis Roberts & Co. L.P. 0.03% of their portfolio NEW YORK, NY 1,058,0001.1m $1.7m $1.7m 0.03% Added +300.0k +300,000
55 AGF MANAGEMENT LTD 0.01% of their portfolio TORONTO, A6 1,050,0001.1m $1.7m $1.7m 0.01% Unchanged
56 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 895,000895.0k $1.4m $1.4m 0.00% Added +57.0k +57,000
57 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 428,000428.0k $6.9k $6.9k 0.00% Unchanged
58 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 350,000350.0k $567.9k $567.9k 0.00% Unchanged
59 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 321,000321.0k $517.8k $517.8k 0.00% Reduced -2.5m -2,491,000
60 OPPENHEIMER ASSET MANAGEMENT INC. 0.00% of their portfolio NEW YORK, NY 161,000161.0k $259.7k $259.7k 0.00% Added +5.0k +5,000
61 GAMCO INVESTORS, INC. ET AL 0.00% of their portfolio GREENWICH, CT 150,000150.0k $243.1k $243.1k 0.00% Unchanged
62 Calamos Wealth Management LLC 0.01% of their portfolio NAPERVILLE, IL 117,000117.0k $189.6k $189.6k 0.01% Reduced -223.0k -223,000
63 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 106,000106.0k $174.2k $174.2k 0.00% New
64 STEPHENS INC /AR/ 0.00% of their portfolio LITTLE ROCK, AR 46,00046.0k $74.2k $74.2k 0.00% Unchanged
65 Balboa Wealth Partners 0.01% of their portfolio SCOTTSDALE, AZ 26,00026.0k $42.2k $42.2k 0.01% Unchanged
66 Stonegate Investment Group, LLC 0.00% of their portfolio BIRMINGHAM, AL 18,00018.0k $29.0k $29.0k 0.00% Reduced -3.0k -3,000
67 SG Americas Securities, LLC 0.01% of their portfolio NEW YORK, NY 17,00017.0k $2.8m $2.8m 0.01% Added +7.9k +7,940
68 Boussard & Gavaudan Investment Management LLP 2.65% of their portfolio London, X0 13,00013.0k $21.4m $21.4m 2.65% Reduced -4.5k -4,500
69 FIFTH THIRD BANCORP 0.00% of their portfolio CINCINNATI, OH 9,0009.0k $1.5m $1.5m 0.00% New
70 K2 PRINCIPAL FUND, L.P. 0.85% of their portfolio TORONTO, A6 5,0005.0k $8.1m $8.1m 0.85% Unchanged
71 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 4,0004.0k $6.5k $6.5k 0.00% Unchanged
72 NOMURA HOLDINGS INC 0.00% of their portfolio TOKYO, M0 3,4973.5k $571.3k $571.3k 0.00% Reduced -6.1k -6,079
73 UBS Group AG 0.00% of their portfolio ZURICH, V8 1,3301.3k $2.1k $2.1k 0.00% Reduced -17.0m -16,999,340
74 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 1,0001.0k $1.6k $1.6k 0.00% New
75 Candriam S.C.A. 0.00% of their portfolio STRASSEN, N4 500500 $814.7k $814.7k 0.00% Reduced -2.4k -2,350
76 ODDO BHF ASSET MANAGEMENT SAS 0.03% of their portfolio PARIS, I0 425425 $692.4k $692.4k 0.03% Unchanged