Vault-13

ROYAL CARIBBEAN GROUP RCL 4.25 06.15.23

NOTE 4.250% 6/1 · US DOMESTIC · CUSIP 780153BB7

48 institutional holders -1 vs Q4 2022
2,301,5712.3m shares reported held*
$368.6mreported value*
8 new 11 added 8 reduced 9 sold out net bought ≈ $26.5m (+1.8m 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 ($11.6m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $165.21.

Trends to Q1 2023

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 52Q4 22: 49Q1 23: 4848Q3 22Q4 22Q1 23
Numbers
QuarterHolders
Q3 202252
Q4 202249
Q1 202348

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 22: 7 bought or addedQ4 22: 26 cut or sold outQ4 22Q1 23: 19 bought or addedQ1 23: 17 cut or sold outQ1 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022726
Q1 20231917

Biggest buyers

LAZARD ASSET MANAGEMENT LLC New +17,398,000+17.4m
BNP PARIBAS FINANCIAL MARKETS New +12,330,000+12.3m
DeepCurrents Investment Group LLC Added +5,317,000+5.3m
Hudson Bay Capital Management LP Added +3,883,000+3.9m
D. E. Shaw & Co., Inc. Added +3,200,000+3.2m
MORGAN STANLEY Added +2,520,000+2.5m
JANE STREET GROUP, LLC Added +2,045,000+2.0m
BLUEFIN CAPITAL MANAGEMENT, LLC New +1,205,000+1.2m
RWC Asset Management LLP New +800,000+800.0k
BARCLAYS PLC Added +523,000+523.0k

Biggest sellers

Verition Fund Management LLC Reduced -8,671,592-8.7m
Fore Capital, LLC Sold out -5,000,000-5.0m
BARINGS LLC Sold out -4,989,000-5.0m
Man Group plc Sold out -3,900,000-3.9m
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main Reduced -3,250,000-3.2m
BlackRock Inc. Reduced -2,985,000-3.0m
STATE STREET CORP Reduced -2,225,000-2.2m
MACQUARIE GROUP LTD Sold out -1,250,000-1.2m
CITIGROUP INC Reduced -202,000-202.0k
SSI INVESTMENT MANAGEMENT LLC Reduced -161,000-161.0k

Holders, Q1 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Capital Research Global Investors 0.04% of their portfolio Los Angeles, CA 132,556,000132.6m $134.9m $134.9m 0.04% Unchanged
2 VOYA INVESTMENT MANAGEMENT LLC 0.05% of their portfolio ATLANTA, GA 46,500,00046.5m $47.3m $47.3m 0.05% Unchanged
3 D. E. Shaw & Co., Inc. 0.06% of their portfolio New York, NY 36,068,00036.1m $37.0m $37.0m 0.06% Added +3.2m +3,200,000
4 DeepCurrents Investment Group LLC 1.55% of their portfolio NEW YORK, NY 35,175,00035.2m $36.0m $36.0m 1.55% Added +5.3m +5,317,000
5 LAZARD ASSET MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 17,398,00017.4m $17.7m $17.7m 0.02% New
6 Parallax Volatility Advisers, L.P. 0.44% of their portfolio San Francisco, CA 12,500,00012.5m $12.7m $12.7m 0.44% Unchanged
7 BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio PARIS, I0 12,330,00012.3m $12.5m $12.5m 0.03% New
8 Allianz Asset Management GmbH 0.02% of their portfolio MUNICH, 2M 11,600,00011.6m $11.8m $11.8m 0.02% Unchanged
9 Hudson Bay Capital Management LP 0.05% of their portfolio STAMFORD, CT 7,766,0007.8m $7.9m $7.9m 0.05% Added +3.9m +3,883,000
10 MacKay Shields LLC 0.17% of their portfolio New York, NY 6,142,0006.1m $6.2m $6.2m 0.17% Added +82.0k +82,000
11 WHITEBOX ADVISORS LLC 0.22% of their portfolio MINNEAPOLIS, MN 4,500,0004.5m $4.6m $4.6m 0.22% Unchanged
12 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 4,433,0004.4m $4.5m $4.5m 0.00% Reduced -2.2m -2,225,000
13 Allspring Global Investments Holdings, LLC 0.01% of their portfolio CHARLOTTE, NC 4,400,0004.4m $4.5m $4.5m 0.01% Unchanged
14 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 4,346,0004.3m $4.4m $4.4m 0.00% Unchanged
15 CSS LLC/IL 0.32% of their portfolio CHICAGO, IL 4,200,0004.2m $4.3m $4.3m 0.32% Added +200.0k +200,000
16 JUPITER ASSET MANAGEMENT LTD 0.04% of their portfolio London, X0 3,000,0003.0m $3.0m $3.0m 0.04% Unchanged
17 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 2,523,0002.5m $2.6m $2.6m 0.00% Added +2.5m +2,520,000
18 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 2,283,0002.3m $2.3m $2.3m 0.00% Added +399.0k +399,000
19 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 2,075,0002.1m $2.1m $2.1m 0.00% Added +2.0m +2,045,000
20 BlackRock Inc. 0.00% of their portfolio New York, NY 2,042,0002.0m $2.1m $2.1m 0.00% Reduced -3.0m -2,985,000
21 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 1,800,0001.8m $1.8m $1.8m 0.00% Reduced -3.2m -3,250,000
22 BLUEFIN CAPITAL MANAGEMENT, LLC 0.17% of their portfolio NEW YORK, NY 1,205,0001.2m $1.2m $1.2m 0.17% New
23 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 1,000,0001.0m $1.0m $1.0m 0.00% Unchanged
24 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 995,000995.0k $1.0m $1.0m 0.00% Added +523.0k +523,000
25 SSI INVESTMENT MANAGEMENT LLC 0.07% of their portfolio Los Angeles, CA 936,000936.0k $948.2k $948.2k 0.07% Reduced -161.0k -161,000
26 RWC Asset Management LLP 0.03% of their portfolio LONDON, X0 800,000800.0k $817.2k $817.2k 0.03% New
27 REDWOOD CAPITAL MANAGEMENT, LLC 0.10% of their portfolio New York, NY 640,000640.0k $658.3k $658.3k 0.10% Unchanged
28 Kohlberg Kravis Roberts & Co. L.P. 0.01% of their portfolio NEW YORK, NY 380,000380.0k $386.8k $386.8k 0.01% New
29 EDMOND DE ROTHSCHILD HOLDING S.A. 0.00% of their portfolio CHAMBESY, V8 190,000190.0k $192.5k $192.5k 0.00% Unchanged
30 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 142,000142.0k $144.6k $144.6k 0.00% Unchanged
31 OPPENHEIMER ASSET MANAGEMENT INC. 0.00% of their portfolio NEW YORK, NY 101,000101.0k $102.3k $102.3k 0.00% Added +3.0k +3,000
32 Employees Retirement System of Texas 0.00% of their portfolio AUSTIN, TX 100,000100.0k $101.0k $101.0k 0.00% Unchanged
33 Integrated Advisors Network LLC 0.00% of their portfolio DALLAS, TX 50,00050.0k $51.3k $51.3k 0.00% Unchanged
34 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 41,00041.0k $41.5k $41.5k 0.00% Unchanged
35 STEPHENS INC /AR/ 0.00% of their portfolio LITTLE ROCK, AR 35,00035.0k $35.5k $35.5k 0.00% Unchanged
36 Balboa Wealth Partners 0.01% of their portfolio SCOTTSDALE, AZ 30,00030.0k $30.4k $30.4k 0.01% Unchanged
37 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 22,00022.0k $22.3k $22.3k 0.00% Added +19.0k +19,000
38 Clearview Wealth Advisors LLC 0.02% of their portfolio SALEM, OR 20,00020.0k $20.3k $20.3k 0.02% Unchanged
39 Iron Horse Wealth Management, LLC 0.01% of their portfolio JOHSTON, IA 12,00012.0k $12.2k $12.2k 0.01% New
40 Verition Fund Management LLC 0.19% of their portfolio GREENWICH, CT 11,40811.4k $11.6m $11.6m 0.19% Reduced -8.7m -8,671,592
41 Jefferies Financial Group Inc. 0.00% of their portfolio NEW YORK, NY 11,00011.0k $11.5k $11.5k 0.00% Reduced -3.0k -3,000
42 Triton Wealth Management, PLLC 0.36% of their portfolio SUN CITY, AZ 6,3216.3k $587.9k $587.9k 0.36% Reduced -253 -253
43 FIFTH THIRD BANCORP 0.00% of their portfolio CINCINNATI, OH 6,0006.0k $607.8k $607.8k 0.00% New
44 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 6,0006.0k $6.0k $6.0k 0.00% New
45 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 2,0002.0k $2.0k $2.0k 0.00% Reduced -202.0k -202,000
46 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 2,0002.0k $2.0k $2.0k 0.00% Unchanged
47 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 250250 $256.0k $256.0k 0.00% Unchanged
48 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged