Vault-13

PROGRESS SOFTWARE CORP PRGS 1 04.15.26

NOTE 1.000% 4/1 · US DOMESTIC · CUSIP 743312AB6

50 institutional holders +6 vs Q4 2022
26,546,00026.5m shares reported held*
$396.2mreported value*
10 new 14 added 12 reduced 5 sold out net bought ≈ $1.9m (-17.0m 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 ($3.9m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $15.07.

Trends to Q1 2023

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 45Q4 22: 44Q1 23: 5050Q3 22Q4 22Q1 23
Numbers
QuarterHolders
Q3 202245
Q4 202244
Q1 202350

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 22: 15 bought or addedQ4 22: 16 cut or sold outQ4 22Q1 23: 24 bought or addedQ1 23: 17 cut or sold outQ1 23
Numbers
QuarterBought or addedCut or sold out
Q4 20221516
Q1 20232417

Biggest buyers

Aequim Alternative Investments LP New +25,000,000+25.0m
SONA ASSET MANAGEMENT (US) LLC New +9,600,000+9.6m
FMR LLC Added +9,300,000+9.3m
III Capital Management Added +7,100,000+7.1m
CAPSTONE INVESTMENT ADVISORS, LLC Added +6,500,000+6.5m
CSS LLC/IL New +4,400,000+4.4m
JANE STREET GROUP, LLC Added +3,304,000+3.3m
DLD Asset Management, LP Added +3,000,000+3.0m
Fort Baker Capital Management LP New +3,000,000+3.0m
Linden Advisors LP New +2,500,000+2.5m

Biggest sellers

Aequim Alternative Investments LP Sold out -25,000,000-25.0m
Davidson Kempner Capital Management LP Reduced -15,000,000-15.0m
WOLVERINE ASSET MANAGEMENT LLC Sold out -8,800,000-8.8m
Empyrean Capital Partners, LP Reduced -8,000,000-8.0m
STEELHEAD PARTNERS LLC Reduced -6,900,000-6.9m
TENOR CAPITAL MANAGEMENT Co., L.P. Reduced -3,641,000-3.6m
BlackRock Inc. Reduced -3,450,000-3.5m
SCHRODER INVESTMENT MANAGEMENT GROUP Reduced -3,086,000-3.1m
ROYAL BANK OF CANADA Sold out -2,694,000-2.7m
Alberta Investment Management Corp Sold out -2,500,000-2.5m

Holders, Q1 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 STEELHEAD PARTNERS LLC 2.35% of their portfolio SEATTLE, WA 33,000,00033.0m $36.0m $36.0m 2.35% Reduced -6.9m -6,900,000
2 Man Group plc 0.12% of their portfolio LONDON, X0 31,878,00031.9m $34.8m $34.8m 0.12% Added +1.2m +1,194,000
3 Polar Asset Management Partners Inc. 0.48% of their portfolio TORONTO, A6 25,000,00025.0m $27.2m $27.2m 0.48% Unchanged
4 Aequim Alternative Investments LP 0.87% of their portfolio MILL VALLEY, CA 25,000,00025.0m $27.3m $27.3m 0.87% New
5 CAPSTONE INVESTMENT ADVISORS, LLC 0.74% of their portfolio NEW YORK, NY 22,000,00022.0m $24.0m $24.0m 0.74% Added +6.5m +6,500,000
6 FMR LLC 0.00% of their portfolio BOSTON, MA 18,600,00018.6m $20.2m $20.2m 0.00% Added +9.3m +9,300,000
7 DAVIDSON KEMPNER PARTNERS 0.42% of their portfolio New York, NY 15,500,00015.5m $16.9m $16.9m 0.42% First filing
8 Davidson Kempner Capital Management LP 0.35% of their portfolio New York, NY 15,500,00015.5m $16.9m $16.9m 0.35% Reduced -15.0m -15,000,000
9 DLD Asset Management, LP 1.41% of their portfolio NEW YORK, NY 12,750,00012.8m $14.0m $14.0m 1.41% Added +3.0m +3,000,000
10 Calamos Advisors LLC 0.07% of their portfolio NAPERVILLE, IL 12,500,00012.5m $13.6m $13.6m 0.07% Unchanged
11 Daiwa Securities Group Inc. 0.08% of their portfolio CHIYODA-KU,TOKYO, M0 11,000,00011.0m $12.0m $12.0m 0.08% Added +2.0m +2,000,000
12 III Capital Management 0.79% of their portfolio BOCA RATON, FL 10,600,00010.6m $11.6m $11.6m 0.79% Added +7.1m +7,100,000
13 ABSOLUTE INVESTMENT ADVISERS, LLC 1.63% of their portfolio ROSEMARY BEACH, FL 9,750,0009.8m $11.1m $11.1m 1.63% Unchanged
14 SONA ASSET MANAGEMENT (US) LLC 2.24% of their portfolio NEW YORK, NY 9,600,0009.6m $10.4m $10.4m 2.24% New
15 SCHRODER INVESTMENT MANAGEMENT GROUP 0.01% of their portfolio London, X0 8,687,0008.7m $9.4m $9.4m 0.01% Reduced -3.1m -3,086,000
16 Empyrean Capital Partners, LP 0.35% of their portfolio LOS ANGELES, CA 8,000,0008.0m $8.7m $8.7m 0.35% Reduced -8.0m -8,000,000
17 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 7,750,0007.8m $8.4m $8.4m 0.00% Added +500.0k +500,000
18 BlackRock Inc. 0.00% of their portfolio New York, NY 7,305,0007.3m $7.9m $7.9m 0.00% Reduced -3.5m -3,450,000
19 Thrivent Financial for Lutherans 0.02% of their portfolio Minneapolis, MN 7,280,0007.3m $7.9m $7.9m 0.02% Reduced -630.0k -630,000
20 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 6,746,0006.7m $7.4m $7.4m 0.00% Reduced -1.8m -1,829,000
21 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 6,091,0006.1m $6.7m $6.7m 0.00% Added +1.8m +1,841,000
22 GABELLI FUNDS LLC 0.04% of their portfolio Rye, NY 5,390,0005.4m $5.9m $5.9m 0.04% Unchanged
23 BOOTHBAY FUND MANAGEMENT, LLC 0.15% of their portfolio NEW YORK, NY 5,158,0005.2m $5.7m $5.7m 0.15% Added +1.2m +1,236,000
24 CSS LLC/IL 0.36% of their portfolio CHICAGO, IL 4,400,0004.4m $4.8m $4.8m 0.36% New
25 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 3,925,0003.9m $4.3m $4.3m 0.01% Added +3.3m +3,304,000
26 Fort Baker Capital Management LP 0.71% of their portfolio Larkspur, CA 3,000,0003.0m $3.3m $3.3m 0.71% New
27 WESTWOOD HOLDINGS GROUP INC 0.02% of their portfolio DALLAS, TX 2,500,0002.5m $2.7m $2.7m 0.02% Unchanged
28 Linden Advisors LP 0.03% of their portfolio New York, NY 2,500,0002.5m $2.7m $2.7m 0.03% New
29 PALISADE CAPITAL MANAGEMENT, LP 0.07% of their portfolio FORT LEE, NJ 2,470,0002.5m $2.7m $2.7m 0.07% Reduced -230.0k -230,000
30 Paloma Partners Management Co 0.58% of their portfolio GREENWICH, CT 2,400,0002.4m $2.6m $2.6m 0.58% New
31 OAKTREE CAPITAL MANAGEMENT LP 0.03% of their portfolio LOS ANGELES, CA 2,380,0002.4m $2.6m $2.6m 0.03% Unchanged
32 CAMDEN ASSET MANAGEMENT L P /CA 0.08% of their portfolio Los Angeles, CA 2,275,0002.3m $2.5m $2.5m 0.08% Reduced -225.0k -225,000
33 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 2,271,0002.3m $2.5m $2.5m 0.00% New
34 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 2,000,0002.0m $2.2m $2.2m 0.00% Added +500.0k +500,000
35 TENOR CAPITAL MANAGEMENT Co., L.P. 0.03% of their portfolio NEW YORK, NY 1,500,0001.5m $1.6m $1.6m 0.03% Reduced -3.6m -3,641,000
36 SSI INVESTMENT MANAGEMENT LLC 0.10% of their portfolio Los Angeles, CA 1,250,0001.2m $1.4m $1.4m 0.10% Reduced -1.5m -1,500,000
37 Worth Venture Partners, LLC 0.64% of their portfolio FORT LEE, NJ 1,188,0001.2m $1.3m $1.3m 0.64% Added +277.0k +277,000
38 Teton Advisors, Inc. 0.25% of their portfolio Rye, NY 860,000860.0k $936.1k $936.1k 0.25% Unchanged
39 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 841,000841.0k $915.0k $915.0k 0.00% Reduced -1.1m -1,062,000
40 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 775,000775.0k $847.0k $847.0k 0.00% Added +306.0k +306,000
41 Jefferies Financial Group Inc. 0.02% of their portfolio NEW YORK, NY 654,000654.0k $719.4k $719.4k 0.02% Unchanged
42 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 500,000500.0k $544.0k $544.0k 0.00% New
43 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 264,000264.0k $288.6k $288.6k 0.00% Unchanged
44 Nicholas Investment Partners, LP 0.02% of their portfolio RANCHO SANTA FE, CA 250,000250.0k $272.0k $272.0k 0.02% Unchanged
45 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 200,000200.0k $218.6k $218.6k 0.00% Unchanged
46 NOMURA HOLDINGS INC 0.08% of their portfolio TOKYO, M0 148,986149.0k $8.6m $8.6m 0.08% Added +8.2k +8,234
47 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 100,000100.0k $108.8k $108.8k 0.00% Unchanged
48 Y.D. More Investments Ltd 0.00% of their portfolio Ramat Gan, L3 15,00015.0k $16.3k $16.3k 0.00% New
49 Boussard & Gavaudan Investment Management LLP 0.51% of their portfolio London, X0 5,0005.0k $5.4m $5.4m 0.51% New
50 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged