Vault-13

PROS HOLDINGS INC PRO 2.25 09.15.27

NOTE 2.250% 9/1 · US DOMESTIC · CUSIP 74346YAG8

19 institutional holders -5 vs Q1 2025
2,411,0002.4m shares reported held*
$77.6mreported value*
1 new 2 added 8 reduced 6 sold out net sold ≈ $152.8m (-8.0m 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. Implied quarter-end price ≈ $32.19.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0102030Q3 22: 13Q4 22: 13Q1 23: 14Q2 23: 13Q3 23: 17Q4 23: 20Q1 24: 21Q2 24: 20Q3 24: 23Q4 24: 24Q1 25: 24Q2 25: 1919Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202213
Q4 202213
Q1 202314
Q2 202313
Q3 202317
Q4 202320
Q1 202421
Q2 202420
Q3 202423
Q4 202424
Q1 202524
Q2 202519

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q3 23: 9 bought or addedQ3 23: 5 cut or sold outQ4 23: 9 bought or addedQ4 23: 6 cut or sold outQ4 23Q1 24: 6 bought or addedQ1 24: 5 cut or sold outQ2 24: 3 bought or addedQ2 24: 7 cut or sold outQ2 24Q3 24: 9 bought or addedQ3 24: 6 cut or sold outQ4 24: 11 bought or addedQ4 24: 7 cut or sold outQ4 24Q1 25: 6 bought or addedQ1 25: 9 cut or sold outQ2 25: 3 bought or addedQ2 25: 14 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 202395
Q4 202396
Q1 202465
Q2 202437
Q3 202496
Q4 2024117
Q1 202569
Q2 2025314

Biggest buyers

D. E. Shaw & Co., Inc. New +11,767,000+11.8m
SSI INVESTMENT MANAGEMENT LLC Added +600,000+600.0k
BlackRock, Inc. Added +250,000+250.0k

Biggest sellers

Linden Advisors LP Reduced -46,380,000-46.4m
TENOR CAPITAL MANAGEMENT Co., L.P. Reduced -39,342,000-39.3m
Lynrock Lake LP Reduced -28,355,000-28.4m
WOLVERINE ASSET MANAGEMENT LLC Reduced -22,346,000-22.3m
LAZARD ASSET MANAGEMENT LLC Reduced -12,718,000-12.7m
ABSOLUTE INVESTMENT ADVISERS, LLC Sold out -8,000,000-8.0m
ARISTEIA CAPITAL, L.L.C. Sold out -6,000,000-6.0m
READYSTATE ASSET MANAGEMENT LP Reduced -5,500,000-5.5m
ADVENT CAPITAL MANAGEMENT /DE/ Sold out -5,074,000-5.1m
BANK OF AMERICA CORP /DE/ Reduced -855,000-855.0k

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Aequim Alternative Investments LP 0.46% of their portfolio MILL VALLEY, CA 15,000,00015.0m $14.2m $14.2m 0.46% Unchanged
2 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 11,767,00011.8m $11.1m $11.1m 0.01% New
3 TENOR CAPITAL MANAGEMENT Co., L.P. 0.14% of their portfolio NEW YORK, NY 10,658,00010.7m $10.2m $10.2m 0.14% Reduced -39.3m -39,342,000
4 Linden Advisors LP 0.05% of their portfolio New York, NY 8,454,0008.5m $8.0m $8.0m 0.05% Reduced -46.4m -46,380,000
5 Lynrock Lake LP 0.68% of their portfolio RYE BROOK, NY 8,145,0008.1m $7.7m $7.7m 0.68% Reduced -28.4m -28,355,000
6 LAZARD ASSET MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 6,282,0006.3m $6.0m $6.0m 0.01% Reduced -12.7m -12,718,000
7 BlackRock, Inc. 0.00% of their portfolio New York, NY 3,009,0003.0m $2.8m $2.8m 0.00% Added +250.0k +250,000
8 READYSTATE ASSET MANAGEMENT LP 0.12% of their portfolio CHICAGO, IL 3,000,0003.0m $2.8m $2.8m 0.12% Reduced -5.5m -5,500,000
9 SSI INVESTMENT MANAGEMENT LLC 0.17% of their portfolio Los Angeles, CA 2,500,0002.5m $2.3m $2.3m 0.17% Added +600.0k +600,000
10 RATIONAL ADVISORS, INC. 0.21% of their portfolio San Juan, PR 2,211,0002.2m $2.1m $2.1m 0.21% Unchanged
11 PIER 88 INVESTMENT PARTNERS LLC 0.39% of their portfolio SAN FRANCISCO, CA 2,211,0002.2m $2.1m $2.1m 0.39% Unchanged
12 WOLVERINE ASSET MANAGEMENT LLC 0.02% of their portfolio CHICAGO, IL 1,573,0001.6m $1.5m $1.5m 0.02% Reduced -22.3m -22,346,000
13 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 211,000211.0k $197.9k $197.9k 0.00% Reduced -855.0k -855,000
14 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 200,000200.0k $186.0k $186.0k 0.00% Unchanged
15 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 46,00046.0k $42.7k $42.7k 0.00% Unchanged
16 K2 PRINCIPAL FUND, L.P. 0.69% of their portfolio TORONTO, A6 4,0004.0k $3.8m $3.8m 0.69% Unchanged
17 Context Capital Management, LLC 0.09% of their portfolio LAJOLLA, CA 2,7722.8k $2.6m $2.6m 0.09% Reduced -23.3k -23,298
18 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 2,0002.0k $1.9k $1.9k 0.00% Unchanged
19 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged