Vault-13

PROGRESS SOFTWARE CORP PRGS 1 04.15.26

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

46 institutional holders -4 vs Q1 2023
32,635,52632.6m shares reported held*
$382.7mreported value*
6 new 17 added 10 reduced 9 sold out net bought ≈ $925.8k (+6.1m 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 ≈ $11.73.

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 45Q4 22: 44Q1 23: 50Q2 23: 4646Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202245
Q4 202244
Q1 202350
Q2 202346

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 23Q2 23: 23 bought or addedQ2 23: 19 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 20221516
Q1 20232417
Q2 20232319

Biggest buyers

Linden Advisors LP Added +20,500,000+20.5m
TENOR CAPITAL MANAGEMENT Co., L.P. Added +17,869,000+17.9m
Polar Asset Management Partners Inc. Added +10,000,000+10.0m
CSS LLC/IL Added +8,884,000+8.9m
PUTNAM INVESTMENTS LLC New +6,256,000+6.3m
III Capital Management Added +5,600,000+5.6m
Fort Baker Capital Management LP Added +4,875,000+4.9m
DLD Asset Management, LP Added +3,878,000+3.9m
BANK OF AMERICA CORP /DE/ Added +3,743,000+3.7m
CAPSTONE INVESTMENT ADVISORS, LLC Added +3,000,000+3.0m

Biggest sellers

STEELHEAD PARTNERS LLC Sold out -33,000,000-33.0m
Davidson Kempner Capital Management LP Sold out -15,500,000-15.5m
SONA ASSET MANAGEMENT (US) LLC Sold out -9,600,000-9.6m
FMR LLC Reduced -9,300,000-9.3m
Empyrean Capital Partners, LP Sold out -8,000,000-8.0m
WELLS FARGO & COMPANY/MN Reduced -4,500,000-4.5m
JANE STREET GROUP, LLC Sold out -3,925,000-3.9m
Paloma Partners Management Co Sold out -2,400,000-2.4m
OAKTREE CAPITAL MANAGEMENT LP Sold out -2,380,000-2.4m
SCHRODER INVESTMENT MANAGEMENT GROUP Reduced -2,000,000-2.0m

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Polar Asset Management Partners Inc. 0.77% of their portfolio TORONTO, A6 35,000,00035.0m $38.6m $38.6m 0.77% Added +10.0m +10,000,000
2 Man Group plc 0.10% of their portfolio LONDON, X0 30,078,00030.1m $33.2m $33.2m 0.10% Reduced -1.8m -1,800,000
3 CAPSTONE INVESTMENT ADVISORS, LLC 0.81% of their portfolio NEW YORK, NY 25,000,00025.0m $27.5m $27.5m 0.81% Added +3.0m +3,000,000
4 Aequim Alternative Investments LP 1.03% of their portfolio MILL VALLEY, CA 25,000,00025.0m $27.5m $27.5m 1.03% Unchanged
5 Linden Advisors LP 0.27% of their portfolio New York, NY 23,000,00023.0m $25.3m $25.3m 0.27% Added +20.5m +20,500,000
6 TENOR CAPITAL MANAGEMENT Co., L.P. 0.44% of their portfolio NEW YORK, NY 19,369,00019.4m $21.3m $21.3m 0.44% Added +17.9m +17,869,000
7 DLD Asset Management, LP 2.48% of their portfolio NEW YORK, NY 16,628,00016.6m $18.5m $18.5m 2.48% Added +3.9m +3,878,000
8 III Capital Management 1.40% of their portfolio BOCA RATON, FL 16,200,00016.2m $17.9m $17.9m 1.40% Added +5.6m +5,600,000
9 CSS LLC/IL 1.13% of their portfolio CHICAGO, IL 13,284,00013.3m $14.6m $14.6m 1.13% Added +8.9m +8,884,000
10 Calamos Advisors LLC 0.07% of their portfolio NAPERVILLE, IL 12,500,00012.5m $13.8m $13.8m 0.07% Unchanged
11 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 11,493,00011.5m $12.6m $12.6m 0.00% Added +3.7m +3,743,000
12 Daiwa Securities Group Inc. 0.08% of their portfolio CHIYODA-KU,TOKYO, M0 11,000,00011.0m $12.1m $12.1m 0.08% Unchanged
13 ABSOLUTE INVESTMENT ADVISERS, LLC 1.60% of their portfolio ROSEMARY BEACH, FL 10,350,00010.3m $11.3m $11.3m 1.60% Added +600.0k +600,000
14 FMR LLC 0.00% of their portfolio BOSTON, MA 9,300,0009.3m $10.2m $10.2m 0.00% Reduced -9.3m -9,300,000
15 Fort Baker Capital Management LP 1.22% of their portfolio Larkspur, CA 7,875,0007.9m $8.6m $8.6m 1.22% Added +4.9m +4,875,000
16 Thrivent Financial for Lutherans 0.02% of their portfolio Minneapolis, MN 7,430,0007.4m $8.1m $8.1m 0.02% Added +150.0k +150,000
17 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 7,246,0007.2m $8.0m $8.0m 0.00% Added +500.0k +500,000
18 BlackRock Inc. 0.00% of their portfolio New York, NY 6,955,0007.0m $7.6m $7.6m 0.00% Reduced -350.0k -350,000
19 SCHRODER INVESTMENT MANAGEMENT GROUP 0.01% of their portfolio London, X0 6,687,0006.7m $7.3m $7.3m 0.01% Reduced -2.0m -2,000,000
20 BOOTHBAY FUND MANAGEMENT, LLC 0.23% of their portfolio NEW YORK, NY 6,533,0006.5m $7.3m $7.3m 0.23% Added +1.4m +1,375,000
21 PUTNAM INVESTMENTS LLC 0.01% of their portfolio BOSTON, MA 6,256,0006.3m $6.9m $6.9m 0.01% New
22 GABELLI FUNDS LLC 0.05% of their portfolio Rye, NY 5,390,0005.4m $6.0m $6.0m 0.05% Unchanged
23 Warberg Asset Management LLC 0.94% of their portfolio WINNETKA, IL 3,000,0003.0m $3.3m $3.3m 0.94% New
24 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 2,937,0002.9m $3.2m $3.2m 0.00% Added +2.2m +2,162,000
25 WESTWOOD HOLDINGS GROUP INC 0.02% of their portfolio DALLAS, TX 2,500,0002.5m $2.8m $2.8m 0.02% Unchanged
26 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 2,500,0002.5m $2.8m $2.8m 0.00% New
27 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 2,380,0002.4m $2.6m $2.6m 0.00% New
28 Worth Venture Partners, LLC 1.37% of their portfolio FORT LEE, NJ 2,262,0002.3m $2.5m $2.5m 1.37% Added +1.1m +1,074,000
29 PALISADE CAPITAL MANAGEMENT, LP 0.05% of their portfolio FORT LEE, NJ 1,606,0001.6m $1.8m $1.8m 0.05% Reduced -864.0k -864,000
30 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1,591,0001.6m $1.8m $1.8m 0.00% Reduced -4.5m -4,500,000
31 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 1,500,0001.5m $1.6m $1.6m 0.00% Reduced -500.0k -500,000
32 SSI INVESTMENT MANAGEMENT LLC 0.10% of their portfolio Los Angeles, CA 1,250,0001.2m $1.4m $1.4m 0.10% Unchanged
33 CAMDEN ASSET MANAGEMENT L P /CA 0.05% of their portfolio Los Angeles, CA 1,186,0001.2m $1.3m $1.3m 0.05% Reduced -1.1m -1,089,000
34 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 841,000841.0k $922.0k $922.0k 0.00% Unchanged
35 Teton Advisors, Inc. 0.23% of their portfolio Rye, NY 760,000760.0k $839.7k $839.7k 0.23% Reduced -100.0k -100,000
36 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 615,000615.0k $673.4k $673.4k 0.00% Added +115.0k +115,000
37 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 401,000401.0k $439.1k $439.1k 0.00% Reduced -1.9m -1,870,000
38 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 358,000358.0k $392.0k $392.0k 0.00% New
39 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 264,000264.0k $290.4k $290.4k 0.00% Unchanged
40 Nicholas Investment Partners, LP 0.02% of their portfolio RANCHO SANTA FE, CA 250,000250.0k $273.8k $273.8k 0.02% Unchanged
41 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 200,000200.0k $220.3k $220.3k 0.00% Unchanged
42 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 100,000100.0k $109.5k $109.5k 0.00% Unchanged
43 Y.D. More Investments Ltd 0.00% of their portfolio Ramat Gan, L3 15,00015.0k $16.6k $16.6k 0.00% Unchanged
44 Boussard & Gavaudan Investment Management LLP 0.74% of their portfolio London, X0 7,0267.0k $7.8m $7.8m 0.74% Added +2.0k +2,026
45 Alpine Global Management, LLC 0.24% of their portfolio NEW YORK, NY 1,5001.5k $1.6m $1.6m 0.24% New
46 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged