Vault-13

RINGCENTRAL INC RNG 0 03.15.26

NOTE 3/1 · US DOMESTIC · CUSIP 76680RAH0

38 institutional holders +3 vs Q3 2025
7,732,0007.7m shares reported held*
$628.4mreported value*
7 new 6 added 4 reduced 3 sold out net sold ≈ $10.7m (-9.6m 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 ($174.2k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $81.29.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 43Q4 22: 45Q1 23: 45Q2 23: 40Q3 23: 36Q4 23: 38Q1 24: 39Q2 24: 37Q3 24: 35Q4 24: 36Q1 25: 35Q2 25: 37Q3 25: 35Q4 25: 3838Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 202243
Q4 202245
Q1 202345
Q2 202340
Q3 202336
Q4 202338
Q1 202439
Q2 202437
Q3 202435
Q4 202436
Q1 202535
Q2 202537
Q3 202535
Q4 202538

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q1 24: 15 bought or addedQ1 24: 15 cut or sold outQ2 24: 8 bought or addedQ2 24: 18 cut or sold outQ2 24Q3 24: 8 bought or addedQ3 24: 13 cut or sold outQ4 24: 14 bought or addedQ4 24: 12 cut or sold outQ4 24Q1 25: 15 bought or addedQ1 25: 18 cut or sold outQ2 25: 12 bought or addedQ2 25: 10 cut or sold outQ2 25Q3 25: 18 bought or addedQ3 25: 11 cut or sold outQ4 25: 13 bought or addedQ4 25: 7 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20241515
Q2 2024818
Q3 2024813
Q4 20241412
Q1 20251518
Q2 20251210
Q3 20251811
Q4 2025137

Biggest buyers

Radcliffe Capital Management, L.P. Added +13,216,000+13.2m
BlackRock, Inc. Added +1,800,000+1.8m
STATE STREET CORP Added +1,000,000+1.0m
TENOR CAPITAL MANAGEMENT Co., L.P. Added +1,000,000+1.0m
OAKTREE CAPITAL MANAGEMENT LP New +984,000+984.0k
WELLS FARGO & COMPANY/MN Added +676,000+676.0k
CITIGROUP INC New +615,000+615.0k
COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS Added +420,000+420.0k
Lombard Odier Asset Management (Europe) Ltd New +362,000+362.0k
Russell Investments Group, Ltd. New +328,000+328.0k

Biggest sellers

JPMORGAN CHASE & CO Reduced -15,483,000-15.5m
ALKEON CAPITAL MANAGEMENT LLC Sold out -10,000,000-10.0m
BANK OF AMERICA CORP /DE/ Reduced -3,092,000-3.1m
TORONTO DOMINION BANK Reduced -2,000,000-2.0m
LORD, ABBETT & CO. LLC Reduced -377,000-377.0k
BNP PARIBAS FINANCIAL MARKETS Sold out -326,000-326.0k
BRIGHTON JONES LLC Sold out -40,000-40.0k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 TENOR CAPITAL MANAGEMENT Co., L.P. 2.84% of their portfolio NEW YORK, NY 203,500,000203.5m $201.6m $201.6m 2.84% Added +1.0m +1,000,000
2 D. E. Shaw & Co., Inc. 0.08% of their portfolio New York, NY 101,792,000101.8m $100.7m $100.7m 0.08% Unchanged
3 Radcliffe Capital Management, L.P. 4.37% of their portfolio BALA CYNWYD, PA 81,222,00081.2m $80.2m $80.2m 4.37% Added +13.2m +13,216,000
4 Hudson Bay Capital Management LP 0.30% of their portfolio STAMFORD, CT 52,686,00052.7m $52.2m $52.2m 0.30% Unchanged
5 Calamos Advisors LLC 0.17% of their portfolio NAPERVILLE, IL 41,100,00041.1m $40.7m $40.7m 0.17% Unchanged
6 ARISTEIA CAPITAL, L.L.C. 0.79% of their portfolio GREENWICH, CT 28,000,00028.0m $27.7m $27.7m 0.79% Unchanged
7 LORD, ABBETT & CO. LLC 0.07% of their portfolio JERSEY CITY, NJ 22,374,00022.4m $22.1m $22.1m 0.07% Reduced -377.0k -377,000
8 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 13,662,00013.7m $13.4m $13.4m 0.00% Added +1.0m +1,000,000
9 Thrivent Financial for Lutherans 0.02% of their portfolio Minneapolis, MN 12,100,00012.1m $12.0m $12.0m 0.02% Unchanged
10 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 11,733,00011.7m $11.6m $11.6m 0.00% Reduced -15.5m -15,483,000
11 BlackRock, Inc. 0.00% of their portfolio New York, NY 7,771,0007.8m $7.7m $7.7m 0.00% Added +1.8m +1,800,000
12 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.04% of their portfolio HARRISBURG, PA 7,630,0007.6m $7.5m $7.5m 0.04% Added +420.0k +420,000
13 FMR LLC 0.00% of their portfolio BOSTON, MA 7,000,0007.0m $6.9m $6.9m 0.00% Unchanged
14 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 4,000,0004.0m $4.0m $4.0m 0.00% Unchanged
15 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 3,375,0003.4m $3.3m $3.3m 0.00% Added +676.0k +676,000
16 ONTARIO TEACHERS PENSION PLAN BOARD 0.07% of their portfolio Toronto, A6 3,311,0003.3m $3.3m $3.3m 0.07% Unchanged
17 TORONTO DOMINION BANK 0.01% of their portfolio TORONTO, ONTARIO, A6 3,000,0003.0m $3.0m $3.0m 0.01% Reduced -2.0m -2,000,000
18 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 2,300,0002.3m $2.3m $2.3m 0.00% Unchanged
19 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 1,750,0001.8m $1.7m $1.7m 0.00% Unchanged
20 OAKTREE CAPITAL MANAGEMENT LP 0.02% of their portfolio LOS ANGELES, CA 984,000984.0k $974.7k $974.7k 0.02% New
21 PALISADE CAPITAL MANAGEMENT, LP 0.02% of their portfolio FORT LEE, NJ 620,000620.0k $613.0k $613.0k 0.02% Unchanged
22 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 615,000615.0k $607.6k $607.6k 0.00% New
23 PIPER SANDLER & CO. 0.32% of their portfolio MINNEAPOLIS, MN 455,000455.0k $449.5k $449.5k 0.32% Unchanged
24 RFG Advisory, LLC 0.01% of their portfolio BIRMINGHAM, AL 390,000390.0k $381.6k $381.6k 0.01% Unchanged
25 Lombard Odier Asset Management (Europe) Ltd 0.02% of their portfolio LONDON, X0 362,000362.0k $358.4k $358.4k 0.02% New
26 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 328,000328.0k $324.7k $324.7k 0.00% New
27 Amundi 0.01% of their portfolio Paris, I0 226,000226.0k $22.3m $22.3m 0.01% Unchanged
28 ZAZOVE ASSOCIATES LLC 0.01% of their portfolio INCLINE VILLAGE, NV 134,000134.0k $132.7k $132.7k 0.01% Unchanged
29 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 76,00076.0k $75.1k $75.1k 0.00% Unchanged
30 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 70,00070.0k $69.2k $69.2k 0.00% Unchanged
31 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 67,00067.0k $66.2k $66.2k 0.00% Reduced -3.1m -3,092,000
32 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 62,00062.0k $61.4k $61.4k 0.00% Unchanged
33 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 62,00062.0k $61.3k $61.3k 0.00% New
34 VIRTUS ADVISERS, LLC 0.02% of their portfolio HARTFORD, CT 42,00042.0k $41.5k $41.5k 0.02% Unchanged
35 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 40,00040.0k $39.5k $39.5k 0.00% Unchanged
36 CSS LLC/IL 0.00% of their portfolio CHICAGO, IL 33,00033.0k $32.7k $32.7k 0.00% New
37 Jefferies Financial Group Inc. 0.00% of their portfolio NEW YORK, NY 12,00012.0k $11.7k $11.7k 0.00% New
38 Alken Asset Management Ltd 0.00% of their portfolio LONDON, X0 300300 $294 $294 0.00% Unchanged