Vault-13

NOVAVAX INC NVAX 5 12.15.27

NOTE 5.000%12/1 · US DOMESTIC · CUSIP 670002AD6

5 institutional holders +1 vs Q3 2025
$26.4mprincipal reported held*
$28.4mreported value*
1 new 0 added 2 reduced 0 sold out net sold ≈ $53.6k

* 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. Options: 1 managers hold calls ($4.0m notional), 0 hold puts (—).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

01020Q1 24: 17Q2 24: 13Q3 24: 12Q4 24: 13Q1 25: 11Q2 25: 12Q3 25: 4Q4 25: 55Q1 24Q3 24Q1 25Q3 25Q4 25
Numbers
QuarterHolders
Q1 202417
Q2 202413
Q3 202412
Q4 202413
Q1 202511
Q2 202512
Q3 20254
Q4 20255

Buyers vs sellers

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

Bought or addedCut or sold out
10010Q2 24: 6 bought or addedQ2 24: 9 cut or sold outQ2 24Q3 24: 5 bought or addedQ3 24: 6 cut or sold outQ4 24: 3 bought or addedQ4 24: 1 cut or sold outQ4 24Q1 25: 2 bought or addedQ1 25: 4 cut or sold outQ2 25: 5 bought or addedQ2 25: 5 cut or sold outQ2 25Q3 25: 2 bought or addedQ3 25: 10 cut or sold outQ4 25: 1 bought or addedQ4 25: 2 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q2 202469
Q3 202456
Q4 202431
Q1 202524
Q2 202555
Q3 2025210
Q4 202512

Calls vs puts

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

CallsPuts
$0$2m$4m$6mQ1 25 calls: $0Q1 25 puts: $0Q1 25P/C —Q2 25 calls: $0Q2 25 puts: $0Q2 25P/C —Q3 25 calls: $0Q3 25 puts: $0Q3 25P/C —Q4 25 calls: $4.0mQ4 25 puts: $0Q4 25P/C 0.00
Numbers
QuarterCallsPutsP/C
Q1 2025$0$0—
Q2 2025$0$0—
Q3 2025$0$0—
Q4 2025$4.0m$00.00

Biggest buyers

Sculptor Capital LP New +12,000,000+12.0m

Biggest sellers

Balyasny Asset Management L.P. Reduced -12,000,000-12.0m
JPMORGAN CHASE & CO Reduced -50,000-50.0k

Biggest calls

ORACLE INVESTMENT MANAGEMENT INC New $4.0m600.0k shares

Biggest puts

None

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Sculptor Capital LP 0.15% of their portfolio New York, NY 12,000,00012.0m $12.9m $12.9m 0.15% New
2 Balyasny Asset Management L.P. 0.02% of their portfolio Chicago, IL 8,252,0008.3m $8.8m $8.8m 0.02% Reduced -12.0m -12,000,000
3 Point72 Asset Management, L.P. 0.01% of their portfolio STAMFORD, CT 4,400,0004.4m $4.8m $4.8m 0.01% Unchanged
4 FMR LLC 0.00% of their portfolio BOSTON, MA 1,748,0001.7m $1.9m $1.9m 0.00% Unchanged
5 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 50,00050.0k $53.4k $53.4k 0.00% Reduced -50.0k -50,000