Vault-13

MARRIOTT VACATIONS WORLDWIDE VAC 0 01.15.26

NOTE 1/1 · US DOMESTIC · CUSIP 57164YAD9

1 institutional holders -35 vs Q4 2025
$260.0kprincipal reported held*
$259.5kreported value*
0 new 0 added 0 reduced 35 sold out net sold ≈ $545.3m (-18.0m 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.

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0255075Q3 22: 61Q4 22: 65Q1 23: 63Q2 23: 64Q3 23: 56Q4 23: 52Q1 24: 44Q2 24: 46Q3 24: 43Q4 24: 44Q1 25: 33Q2 25: 40Q3 25: 42Q4 25: 36Q1 26: 11Q3 22Q3 23Q3 24Q3 25Q1 26
Numbers
QuarterHolders
Q3 202261
Q4 202265
Q1 202363
Q2 202364
Q3 202356
Q4 202352
Q1 202444
Q2 202446
Q3 202443
Q4 202444
Q1 202533
Q2 202540
Q3 202542
Q4 202536
Q1 20261

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q2 24: 15 bought or addedQ2 24: 15 cut or sold outQ3 24: 12 bought or addedQ3 24: 19 cut or sold outQ3 24Q4 24: 12 bought or addedQ4 24: 14 cut or sold outQ1 25: 12 bought or addedQ1 25: 21 cut or sold outQ1 25Q2 25: 15 bought or addedQ2 25: 14 cut or sold outQ3 25: 26 bought or addedQ3 25: 19 cut or sold outQ3 25Q4 25: 16 bought or addedQ4 25: 16 cut or sold outQ1 26: 0 bought or addedQ1 26: 35 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 20241515
Q3 20241219
Q4 20241214
Q1 20251221
Q2 20251514
Q3 20252619
Q4 20251616
Q1 2026035

Biggest buyers

None

Biggest sellers

Radcliffe Capital Management, L.P. Sold out -113,786,000-113.8m
SOROS FUND MANAGEMENT LLC Sold out -83,609,000-83.6m
OSTERWEIS CAPITAL MANAGEMENT INC Sold out -71,011,000-71.0m
MILLENNIUM MANAGEMENT LLC Sold out -55,500,000-55.5m
GLAZER CAPITAL, LLC Sold out -53,265,000-53.3m
TORONTO DOMINION BANK Sold out -28,678,000-28.7m
KIM, LLC Sold out -27,000,000-27.0m
PIPER SANDLER & CO. Sold out -13,547,000-13.5m
BERKLEY W R CORP Sold out -12,434,000-12.4m
FMR LLC Sold out -10,000,000-10.0m

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 ZAZOVE ASSOCIATES LLC 0.01% of their portfolio INCLINE VILLAGE, NV 260,000260.0k $259.5k $259.5k 0.01% Unchanged