Vault-13

MARRIOTT VACATIONS WORLDWIDE VAC 0 01.15.26

NOTE 1/1 · US DOMESTIC · CUSIP 57164YAD9

64 institutional holders +1 vs Q1 2023
37,431,00037.4m shares reported held*
$502.3mreported value*
6 new 14 added 20 reduced 6 sold out net bought ≈ $2.4m (-12.0m 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 ≈ $13.42.

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0255075Q3 22: 61Q4 22: 65Q1 23: 63Q2 23: 6464Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202261
Q4 202265
Q1 202363
Q2 202364

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 22: 32 bought or addedQ4 22: 26 cut or sold outQ4 22Q1 23: 26 bought or addedQ1 23: 29 cut or sold outQ1 23Q2 23: 20 bought or addedQ2 23: 26 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 20223226
Q1 20232629
Q2 20232026

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$2m$4m$6mQ3 22 calls: $0Q3 22 puts: $4.6mQ3 22P/C —Q4 22 calls: $0Q4 22 puts: $0Q4 22P/C —Q1 23 calls: $0Q1 23 puts: $0Q1 23P/C —Q2 23 calls: $0Q2 23 puts: $0Q2 23P/C —
Numbers
QuarterCallsPutsP/C
Q3 2022$0$4.6m—
Q4 2022$0$0—
Q1 2023$0$0—
Q2 2023$0$0—

Biggest buyers

CAMDEN ASSET MANAGEMENT L P /CA Added +7,550,000+7.5m
Sculptor Capital LP New +7,500,000+7.5m
Linden Advisors LP Added +6,500,000+6.5m
Walleye Capital LLC New +5,750,000+5.8m
ADVENT CAPITAL MANAGEMENT /DE/ Added +4,008,000+4.0m
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +3,250,000+3.2m
CQS (US), LLC Added +3,000,000+3.0m
STATE STREET CORP Added +2,200,000+2.2m
LAZARD ASSET MANAGEMENT LLC Added +2,000,000+2.0m
WELLS FARGO & COMPANY/MN Added +1,718,000+1.7m

Biggest sellers

STEELHEAD PARTNERS LLC Reduced -6,258,000-6.3m
LMR Partners LLP Reduced -5,000,000-5.0m
Daiwa Securities Group Inc. Reduced -4,000,000-4.0m
Anson Funds Management LP Sold out -4,000,000-4.0m
SHENKMAN CAPITAL MANAGEMENT INC Reduced -3,870,000-3.9m
Polar Capital Holdings Plc Sold out -3,500,000-3.5m
JPMORGAN CHASE & CO Reduced -2,592,000-2.6m
RWC Asset Management LLP Sold out -2,500,000-2.5m
JANE STREET GROUP, LLC Reduced -2,300,000-2.3m
BlackRock Inc. Reduced -2,200,000-2.2m

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 LAZARD ASSET MANAGEMENT LLC 0.09% of their portfolio NEW YORK, NY 79,273,00079.3m $73.8m $73.8m 0.09% Added +2.0m +2,000,000
2 STEELHEAD PARTNERS LLC 2.28% of their portfolio SEATTLE, WA 38,742,00038.7m $36.0m $36.0m 2.28% Reduced -6.3m -6,258,000
3 CSS LLC/IL 2.19% of their portfolio CHICAGO, IL 30,778,00030.8m $28.4m $28.4m 2.19% Unchanged
4 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.04% of their portfolio BALA CYNWYD, PA 30,320,00030.3m $27.9m $27.9m 0.04% Added +3.2m +3,250,000
5 Magnetar Financial LLC 0.53% of their portfolio EVANSTON, IL 26,000,00026.0m $24.1m $24.1m 0.53% Added +1.0m +1,000,000
6 III Capital Management 1.75% of their portfolio BOCA RATON, FL 24,140,00024.1m $22.4m $22.4m 1.75% Unchanged
7 Linden Advisors LP 0.22% of their portfolio New York, NY 22,248,00022.2m $20.6m $20.6m 0.22% Added +6.5m +6,500,000
8 Lombard Odier Asset Management (Europe) Ltd 0.98% of their portfolio LONDON, X0 22,121,00022.1m $20.5m $20.5m 0.98% Reduced -16.0k -16,000
9 Calamos Advisors LLC 0.10% of their portfolio NAPERVILLE, IL 21,661,00021.7m $20.0m $20.0m 0.10% Reduced -120.0k -120,000
10 LMR Partners LLP 0.42% of their portfolio LONDON, X0 20,000,00020.0m $18.4m $18.4m 0.42% Reduced -5.0m -5,000,000
11 Castle Creek Arbitrage, LLC 2.18% of their portfolio AVON, CO 19,000,00019.0m $17.6m $17.6m 2.18% Unchanged
12 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 14,045,00014.0m $13.0m $13.0m 0.00% Added +2.2m +2,200,000
13 Thrivent Financial for Lutherans 0.03% of their portfolio Minneapolis, MN 12,195,00012.2m $11.3m $11.3m 0.03% Unchanged
14 Daiwa Securities Group Inc. 0.07% of their portfolio CHIYODA-KU,TOKYO, M0 12,000,00012.0m $11.2m $11.2m 0.07% Reduced -4.0m -4,000,000
15 BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio PARIS, I0 11,610,00011.6m $10.8m $10.8m 0.02% Reduced -2.1m -2,061,000
16 CAMDEN ASSET MANAGEMENT L P /CA 0.36% of their portfolio Los Angeles, CA 11,225,00011.2m $10.4m $10.4m 0.36% Added +7.5m +7,550,000
17 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 10,375,00010.4m $9.6m $9.6m 0.01% Reduced -2.3m -2,300,000
18 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 10,120,00010.1m $9.4m $9.4m 0.00% Reduced -313.0k -313,000
19 CQS (US), LLC 1.00% of their portfolio NEW YORK, NY 9,000,0009.0m $8.3m $8.3m 1.00% Added +3.0m +3,000,000
20 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 8,862,0008.9m $8.3m $8.3m 0.00% Added +522.0k +522,000
21 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 8,535,0008.5m $7.9m $7.9m 0.00% Added +1.7m +1,718,000
22 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio FRANKFURT AM MAIN, 2M 8,400,0008.4m $7.8m $7.8m 0.01% Unchanged
23 Sculptor Capital LP 0.18% of their portfolio New York, NY 7,500,0007.5m $6.9m $6.9m 0.18% New
24 LORD, ABBETT & CO. LLC 0.01% of their portfolio JERSEY CITY, NJ 7,081,0007.1m $6.6m $6.6m 0.01% Reduced -209.0k -209,000
25 LORD, ABBETT & CO. LLC 0.01% of their portfolio JERSEY CITY, NJ 7,081,0007.1m $6.6m $6.6m 0.01% Reduced -209.0k -209,000
26 MacKay Shields LLC 0.18% of their portfolio New York, NY 6,727,0006.7m $6.3m $6.3m 0.18% Unchanged
27 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 6,705,0006.7m $6.2m $6.2m 0.00% Reduced -2.6m -2,592,000
28 Walleye Capital LLC 0.09% of their portfolio NEW YORK, NY 5,750,0005.8m $5.4m $5.4m 0.09% New
29 Man Group plc 0.02% of their portfolio LONDON, X0 5,395,0005.4m $5.0m $5.0m 0.02% Added +650.0k +650,000
30 SSI INVESTMENT MANAGEMENT LLC 0.33% of their portfolio Los Angeles, CA 5,119,0005.1m $4.7m $4.7m 0.33% Unchanged
31 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 4,616,0004.6m $4.3m $4.3m 0.00% Reduced -2.2m -2,160,000
32 ADVENT CAPITAL MANAGEMENT /DE/ 0.08% of their portfolio NEW YORK, NY 4,392,0004.4m $4.1m $4.1m 0.08% Added +4.0m +4,008,000
33 SHENKMAN CAPITAL MANAGEMENT INC 0.32% of their portfolio NEW YORK, NY 4,344,0004.3m $4.0m $4.0m 0.32% Reduced -3.9m -3,870,000
34 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.01% of their portfolio Paris, I0 4,000,0004.0m $3.7m $3.7m 0.01% Unchanged
35 BlackRock Inc. 0.00% of their portfolio New York, NY 3,255,0003.3m $3.0m $3.0m 0.00% Reduced -2.2m -2,200,000
36 LBP AM SA 0.07% of their portfolio Paris, I0 3,000,0003.0m $2.8m $2.8m 0.07% Unchanged
37 FIL Ltd 0.00% of their portfolio HAMILTON, D0 2,500,0002.5m $2.3m $2.3m 0.00% Unchanged
38 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 2,500,0002.5m $2.3m $2.3m 0.00% Reduced -500.0k -500,000
39 EDMOND DE ROTHSCHILD HOLDING S.A. 0.03% of their portfolio CHAMBESY, V8 1,412,0001.4m $1.3m $1.3m 0.03% Unchanged
40 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,301,0001.3m $1.2m $1.2m 0.00% Added +1.3m +1,298,000
41 PALISADE CAPITAL MANAGEMENT, LP 0.03% of their portfolio FORT LEE, NJ 1,034,0001.0m $959.0k $959.0k 0.03% Reduced -1.0m -1,001,000
42 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 850,000850.0k $782.0k $782.0k 0.00% Reduced -296.0k -296,000
43 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 839,000839.0k $777.3k $777.3k 0.00% Added +834.0k +834,000
44 Calamos Wealth Management LLC 0.05% of their portfolio NAPERVILLE, IL 784,000784.0k $724.3k $724.3k 0.05% Reduced -68.0k -68,000
45 Quaero Capital S.A. 0.53% of their portfolio GENEVE, V8 750,000750.0k $694.2k $694.2k 0.53% Unchanged
46 GABELLI FUNDS LLC 0.00% of their portfolio Rye, NY 700,000700.0k $648.8k $648.8k 0.00% Unchanged
47 Amundi 0.00% of their portfolio Paris, I0 630,000630.0k $585.8k $585.8k 0.00% Unchanged
48 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 555,000555.0k $514.2k $514.2k 0.00% Added +280.0k +280,000
49 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 430,000430.0k $398.4k $398.4k 0.00% Reduced -8.0k -8,000
50 Kohlberg Kravis Roberts & Co. L.P. 0.01% of their portfolio NEW YORK, NY 410,000410.0k $381.9k $381.9k 0.01% Unchanged
51 FMR LLC 0.00% of their portfolio BOSTON, MA 400,000400.0k $370.6k $370.6k 0.00% Reduced -400.0k -400,000
52 GAMCO INVESTORS, INC. ET AL 0.00% of their portfolio GREENWICH, CT 300,000300.0k $278.1k $278.1k 0.00% Unchanged
53 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 300,000300.0k $277.6k $277.6k 0.00% Unchanged
54 COMERICA BANK 0.00% of their portfolio DALLAS, TX 285,000285.0k $0 $0 0.00% First filing
55 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 140,000140.0k $129.7k $129.7k 0.00% Unchanged
56 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 132,000132.0k $123.0k $123.0k 0.00% Unchanged
57 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 121,000121.0k $111.9k $111.9k 0.00% New
58 FIRST HAWAIIAN BANK 0.00% of their portfolio HONOLULU, HI 110,000110.0k $101.9k $101.9k 0.00% Unchanged
59 Argent Trust Co 0.00% of their portfolio NASHVILLE, TN 65,00065.0k $60.2k $60.2k 0.00% New
60 LAKE STREET ADVISORS GROUP, LLC 0.00% of their portfolio PORTSMOUTH, NH 40,00040.0k $37.0k $37.0k 0.00% Unchanged
61 Stonegate Investment Group, LLC 0.00% of their portfolio BIRMINGHAM, AL 13,00013.0k $12.0k $12.0k 0.00% Unchanged
62 UBS Group AG 0.00% of their portfolio ZURICH, V8 6,0006.0k $5.6k $5.6k 0.00% New
63 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 2,0002.0k $1.9k $1.9k 0.00% New
64 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged