Vault-13

PG&E CORP PCG 4.25 12.01.27

NOTE 4.250%12/0 · US DOMESTIC · CUSIP 69331CAL2

87 institutional holders +1 vs Q1 2026
39,766,39639.8m shares reported held*
$2.1bnreported value*
11 new 22 added 25 reduced 10 sold out net bought ≈ $108.9m (-80.6m 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 ≈ $53.19.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

050100Q4 24: 71Q1 25: 72Q2 25: 86Q3 25: 85Q4 25: 85Q1 26: 86Q2 26: 8787Q4 24Q2 25Q4 25Q2 26
Numbers
QuarterHolders
Q4 202471
Q1 202572
Q2 202586
Q3 202585
Q4 202585
Q1 202686
Q2 202687

Buyers vs sellers

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

Bought or addedCut or sold out
50050Q1 25: 41 bought or addedQ1 25: 37 cut or sold outQ1 25Q2 25: 50 bought or addedQ2 25: 28 cut or sold outQ2 25Q3 25: 31 bought or addedQ3 25: 44 cut or sold outQ3 25Q4 25: 30 bought or addedQ4 25: 39 cut or sold outQ4 25Q1 26: 40 bought or addedQ1 26: 28 cut or sold outQ1 26Q2 26: 33 bought or addedQ2 26: 35 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q1 20254137
Q2 20255028
Q3 20253144
Q4 20253039
Q1 20264028
Q2 20263335

Biggest buyers

Balyasny Asset Management L.P. New +57,000,000+57.0m
HIGHBRIDGE CAPITAL MANAGEMENT LLC New +55,000,000+55.0m
Sculptor Capital LP Added +50,000,000+50.0m
COMPASS ROSE ASSET MANAGEMENT, LP Added +35,000,000+35.0m
Jain Global LLC New +30,000,000+30.0m
CITADEL ADVISORS LLC New +25,000,000+25.0m
Point72 Asset Management, L.P. Added +25,000,000+25.0m
SSI INVESTMENT MANAGEMENT LLC New +12,647,000+12.6m
Converium Capital Inc. Added +11,000,000+11.0m
STATE STREET CORP Added +10,400,000+10.4m

Biggest sellers

Balyasny Asset Management L.P. Sold out -50,000,000-50.0m
SUSQUEHANNA ADVISORS GROUP, INC. Sold out -46,100,000-46.1m
TWO SIGMA INVESTMENTS, LP Reduced -37,500,000-37.5m
BlackRock, Inc. Reduced -24,950,000-24.9m
MILLENNIUM MANAGEMENT LLC Sold out -22,500,000-22.5m
Magnetar Financial LLC Reduced -22,236,000-22.2m
SSI INVESTMENT MANAGEMENT LLC Sold out -17,119,000-17.1m
TPG GP A, LLC Reduced -14,500,000-14.5m
JPMORGAN CHASE & CO Reduced -10,820,000-10.8m
LAZARD ASSET MANAGEMENT LLC Reduced -5,407,000-5.4m

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Hudson Bay Capital Management LP 1.32% of their portfolio STAMFORD, CT 273,895,000273.9m $280.4m $280.4m 1.32% Added +10.0m +10,000,000
2 SOROS FUND MANAGEMENT LLC 2.36% of their portfolio NEW YORK, NY 175,000,000175.0m $179.6m $179.6m 2.36% Unchanged
3 Point72 Asset Management, L.P. 0.20% of their portfolio STAMFORD, CT 129,500,000129.5m $132.7m $132.7m 0.20% Added +25.0m +25,000,000
4 WOLVERINE ASSET MANAGEMENT LLC 1.43% of their portfolio CHICAGO, IL 107,214,000107.2m $109.7m $109.7m 1.43% Unchanged
5 Sculptor Capital LP 0.85% of their portfolio New York, NY 80,000,00080.0m $82.1m $82.1m 0.85% Added +50.0m +50,000,000
6 COMPASS ROSE ASSET MANAGEMENT, LP 21.33% of their portfolio New York, NY 75,000,00075.0m $76.9m $76.9m 21.33% Added +35.0m +35,000,000
7 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 66,118,00066.1m $67.7m $67.7m 0.01% Unchanged
8 Aequim Alternative Investments LP 0.97% of their portfolio MILL VALLEY, CA 61,250,00061.2m $62.7m $62.7m 0.97% Unchanged
9 Balyasny Asset Management L.P. 0.11% of their portfolio Chicago, IL 57,000,00057.0m $58.4m $58.4m 0.11% New
10 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 55,949,00055.9m $57.3m $57.3m 0.00% Added +10.4m +10,400,000
11 FMR LLC 0.00% of their portfolio BOSTON, MA 55,767,00055.8m $57.0m $57.0m 0.00% Added +2.0m +2,047,000
12 HIGHBRIDGE CAPITAL MANAGEMENT LLC 1.93% of their portfolio NEW YORK, NY 55,000,00055.0m $56.7m $56.7m 1.93% New
13 MacKay Shields LLC 1.59% of their portfolio New York, NY 46,453,00046.5m $47.5m $47.5m 1.59% Added +69.0k +69,000
14 BlackRock, Inc. 0.00% of their portfolio New York, NY 44,044,00044.0m $45.0m $45.0m 0.00% Reduced -24.9m -24,950,000
15 TWO SIGMA INVESTMENTS, LP 0.03% of their portfolio NEW YORK, NY 43,528,00043.5m $44.5m $44.5m 0.03% Reduced -37.5m -37,500,000
16 ADVENT CAPITAL MANAGEMENT /DE/ 1.00% of their portfolio NEW YORK, NY 42,689,00042.7m $43.8m $43.8m 1.00% Reduced -1.9m -1,939,000
17 BANK OF MONTREAL /CAN/ 0.02% of their portfolio TORONTO, A6 41,500,00041.5m $42.8m $42.8m 0.02% Unchanged
18 Walleye Capital LLC 0.20% of their portfolio NEW YORK, NY 41,500,00041.5m $42.5m $42.5m 0.20% Reduced -5.0m -5,000,000
19 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 40,692,00040.7m $416.4k $416.4k 0.00% Reduced -5.4m -5,407,000
20 Arena Capital Advisors, LLC- CA 19.12% of their portfolio LOS ANGELES, CA 38,713,00038.7m $39.8m $39.8m 19.12% Reduced -2.0m -1,987,000
21 Thrivent Financial for Lutherans 0.07% of their portfolio Minneapolis, MN 38,370,00038.4m $39.3m $39.3m 0.07% Added +4.5m +4,510,000
22 WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio Boston, MA 37,333,00037.3m $38.4m $38.4m 0.01% Reduced -4.2m -4,250,000
23 Magnetar Financial LLC 0.34% of their portfolio EVANSTON, IL 36,785,00036.8m $37.6m $37.6m 0.34% Reduced -22.2m -22,236,000
24 Converium Capital Inc. 14.74% of their portfolio MONTREAL, A8 36,000,00036.0m $36.8m $36.8m 14.74% Added +11.0m +11,000,000
25 Wellesley Asset Management 3.00% of their portfolio PORTSMOUTH, NH 32,230,00032.2m $32.8m $32.8m 3.00% Reduced -1.9m -1,855,000
26 Jain Global LLC 0.36% of their portfolio NEW YORK, NY 30,000,00030.0m $30.8m $30.8m 0.36% New
27 TPG GP A, LLC 0.58% of their portfolio FORT WORTH, TX 28,500,00028.5m $29.1m $29.1m 0.58% Reduced -14.5m -14,500,000
28 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 26,247,00026.2m $27.0m $27.0m 0.00% Added +2.7m +2,718,000
29 Lombard Odier Asset Management (Europe) Ltd 1.11% of their portfolio LONDON, X0 25,136,00025.1m $25.9m $25.9m 1.11% Reduced -3.7m -3,743,000
30 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 25,000,00025.0m $25.6m $25.6m 0.01% New
31 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 18,027,00018.0m $18.4m $18.4m 0.00% Added +5.4m +5,410,000
32 Brevan Howard Capital Management LP 0.22% of their portfolio ST. HELIER, Y9 15,000,00015.0m $15.4m $15.4m 0.22% Reduced -5.0m -5,000,000
33 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 13,568,00013.6m $14.0m $14.0m 0.00% Reduced -10.8m -10,820,000
34 Calamos Advisors LLC 0.05% of their portfolio NAPERVILLE, IL 12,752,00012.8m $13.1m $13.1m 0.05% Unchanged
35 SSI INVESTMENT MANAGEMENT LLC 0.75% of their portfolio Los Angeles, CA 12,647,00012.6m $12.9m $12.9m 0.75% New
36 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 11,515,00011.5m $11.8m $11.8m 0.00% Added +511.0k +511,000
37 Verition Fund Management LLC 0.07% of their portfolio GREENWICH, CT 10,000,00010.0m $10.2m $10.2m 0.07% Unchanged
38 ZAZOVE ASSOCIATES LLC 0.80% of their portfolio INCLINE VILLAGE, NV 9,500,0009.5m $9.8m $9.8m 0.80% Reduced -2.5m -2,500,000
39 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 9,000,0009.0m $9.2m $9.2m 0.01% New
40 KIM, LLC 1.12% of their portfolio WICHITA, KS 8,000,0008.0m $8.2m $8.2m 1.12% Reduced -4.0m -4,000,000
41 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 7,275,0007.3m $7.4m $7.4m 0.00% Added +4.0m +4,045,000
42 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 6,840,0006.8m $7.0m $7.0m 0.00% Reduced -2.0k -2,000
43 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.00% of their portfolio Boston, MA 6,224,0006.2m $6.5m $6.5m 0.00% Added +1.8m +1,762,000
44 TORONTO DOMINION BANK 0.01% of their portfolio TORONTO, ONTARIO, A6 5,664,0005.7m $5.8m $5.8m 0.01% Reduced -593.0k -593,000
45 CONNING INC. 0.16% of their portfolio HARTFORD, CT 5,300,0005.3m $5.4m $5.4m 0.16% Unchanged
46 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 5,000,0005.0m $5.1m $5.1m 0.00% Unchanged
47 LORD, ABBETT & CO. LLC 0.01% of their portfolio JERSEY CITY, NJ 4,406,0004.4m $4.5m $4.5m 0.01% Reduced -133.0k -133,000
48 RWC Asset Management LLP 0.16% of their portfolio LONDON, X0 4,055,0004.1m $4.2m $4.2m 0.16% Added +65.0k +65,000
49 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 4,000,0004.0m $4.1m $4.1m 0.01% Added +1.0m +1,000,000
50 NOMURA HOLDINGS INC 0.26% of their portfolio TOKYO, M0 3,613,3963.6m $60.8m $60.8m 0.26% Added +68.0k +67,960
51 LBP AM SA 0.04% of their portfolio Paris, I0 3,500,0003.5m $3.6m $3.6m 0.04% New
52 GROUPAMA ASSET MANAGMENT 0.04% of their portfolio PARIS, I0 2,850,0002.9m $2.9m $2.9m 0.04% Unchanged
53 Amundi 0.00% of their portfolio Paris, I0 2,830,0002.8m $2.9m $2.9m 0.00% Unchanged
54 NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.00% of their portfolio PHILADELPHIA, PA 2,770,0002.8m $2.8m $2.8m 0.00% Added +44.0k +44,000
55 Police & Firemen's Retirement System of New Jersey 0.02% of their portfolio TRENTON, NJ 2,290,0002.3m $2.3m $2.3m 0.02% Unchanged
56 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 1,300,0001.3m $1.3m $1.3m 0.00% Unchanged
57 AGF MANAGEMENT LTD 0.00% of their portfolio TORONTO, A6 1,100,0001.1m $1.1m $1.1m 0.00% Unchanged
58 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 893,000893.0k $913.5k $913.5k 0.00% Reduced -2.7m -2,667,000
59 JONES ROAD CAPITAL MANAGEMENT, L.P. 4.88% of their portfolio NEW YORK, NY 875,000875.0k $895.3k $895.3k 4.88% Reduced -1.4m -1,355,000
60 Universal- Beteiligungs- und Servicegesellschaft mbH 0.00% of their portfolio FRANKFURT AM MAIN, 2M 786,000786.0k $809.8k $809.8k 0.00% Unchanged
61 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 681,000681.0k $696.0k $696.0k 0.00% Reduced -5.0m -4,956,000
62 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 577,000577.0k $589.7k $589.7k 0.00% New
63 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 524,000524.0k $539.8k $539.8k 0.00% Unchanged
64 Central Pacific Bank - Trust Division 0.05% of their portfolio HONOLULU, HI 458,000458.0k $468.1k $468.1k 0.05% Unchanged
65 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 440,000440.0k $449.7k $449.7k 0.00% Unchanged
66 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 240,000240.0k $246.8k $246.8k 0.00% Reduced -120.0k -120,000
67 OPPENHEIMER ASSET MANAGEMENT INC. 0.00% of their portfolio NEW YORK, NY 205,000205.0k $209.5k $209.5k 0.00% Reduced -3.0k -3,000
68 Ares Systematic Credit Ltd 0.12% of their portfolio LONDON, X0 200,000200.0k $204.7k $204.7k 0.12% New
69 Virtus Fixed Income Advisers, LLC 0.09% of their portfolio HARTFORD, CT 136,000136.0k $139.0k $139.0k 0.09% New
70 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 91,00091.0k $93.0k $93.0k 0.00% Unchanged
71 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 72,00072.0k $73.6k $73.6k 0.00% Unchanged
72 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 66,24066.2k $6.8m $6.8m 0.00% Added +39.8k +39,840
73 STEPHENS INC /AR/ 0.00% of their portfolio LITTLE ROCK, AR 65,00065.0k $66.4k $66.4k 0.00% Unchanged
74 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 43,00043.0k $43.7k $43.7k 0.00% New
75 MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio DENVER, CO 31,00031.0k $31.7k $31.7k 0.00% Added +18.0k +18,000
76 VIRTUS ADVISERS, LLC 0.01% of their portfolio HARTFORD, CT 31,00031.0k $31.7k $31.7k 0.01% Unchanged
77 Capital Investment Advisory Services, LLC 0.00% of their portfolio RALEIGH, NC 31,00031.0k $31.7k $31.7k 0.00% Unchanged
78 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 28,00028.0k $28.5k $28.5k 0.00% Unchanged
79 INSIGNEO ADVISORY SERVICES, LLC 0.00% of their portfolio MIAMI, FL 27,00027.0k $27.6k $27.6k 0.00% Added +6.0k +6,000
80 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 23,00023.0k $23.6k $23.6k 0.00% Added +5.0k +5,000
81 CHOREO, LLC 0.00% of their portfolio ROCKFORD, IL 23,00023.0k $23.6k $23.6k 0.00% Unchanged
82 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 21,00021.0k $21.5k $21.5k 0.00% Reduced -9.0k -9,000
83 Mariner, LLC 0.00% of their portfolio Overland Park, KS 15,00015.0k $15.3k $15.3k 0.00% Unchanged
84 Balboa Wealth Partners 0.00% of their portfolio SCOTTSDALE, AZ 11,00011.0k $11.2k $11.2k 0.00% Reduced -22.0k -22,000
85 FIFTH THIRD BANCORP 0.00% of their portfolio CINCINNATI, OH 8,0008.0k $8.2k $8.2k 0.00% Unchanged
86 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 3,0003.0k $3.1k $3.1k 0.00% Unchanged
87 Erste Asset Management GmbH 0.00% of their portfolio VIENNA, C4 00 $0 $0 0.00% Unchanged