Vault-13

ROYAL CARIBBEAN GROUP RCL 6 08.15.25

NOTE 6.000% 8/1 · US DOMESTIC · CUSIP 780153BQ4

47 institutional holders -22 vs Q2 2024
7,027,4597.0m shares reported held*
$1.4bnreported value*
3 new 7 added 21 reduced 25 sold out net sold ≈ $3.0bn (-23.0m 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 ($10.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $197.02.

Trends to Q3 2024

Institutional holders

Managers reporting a position, each quarter

0255075Q3 23: 59Q4 23: 61Q1 24: 64Q2 24: 69Q3 24: 4747Q3 23Q4 23Q1 24Q2 24Q3 24
Numbers
QuarterHolders
Q3 202359
Q4 202361
Q1 202464
Q2 202469
Q3 202447

Buyers vs sellers

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

Bought or addedCut or sold out
50050Q4 23: 29 bought or addedQ4 23: 31 cut or sold outQ4 23Q1 24: 24 bought or addedQ1 24: 28 cut or sold outQ1 24Q2 24: 30 bought or addedQ2 24: 28 cut or sold outQ2 24Q3 24: 10 bought or addedQ3 24: 46 cut or sold outQ3 24
Numbers
QuarterBought or addedCut or sold out
Q4 20232931
Q1 20242428
Q2 20243028
Q3 20241046

Biggest buyers

Skaana Management L.P. New +17,905,000+17.9m
SONA ASSET MANAGEMENT (US) LLC Added +7,500,000+7.5m
Warberg Asset Management LLC Added +5,990,000+6.0m
BANK OF AMERICA CORP /DE/ Added +1,106,000+1.1m
Calamos Wealth Management LLC Added +110,000+110.0k
Bank of New York Mellon Corp Added +50,000+50.0k
WELLS FARGO & COMPANY/MN New +50,000+50.0k
LOOMIS SAYLES & CO L P Added +41,213+41.2k
IQ EQ FUND MANAGEMENT (SINGAPORE) PRIVATE Ltd New +5,000+5.0k
RAYMOND JAMES & ASSOCIATES Added +1,000+1.0k

Biggest sellers

D. E. Shaw & Co., Inc. Sold out -170,317,000-170.3m
AQR Arbitrage LLC Reduced -93,950,000-94.0m
WHITEBOX ADVISORS LLC Sold out -71,300,000-71.3m
Polar Asset Management Partners Inc. Sold out -70,000,000-70.0m
TWO SIGMA INVESTMENTS, LP Sold out -69,698,000-69.7m
III Capital Management Sold out -61,148,000-61.1m
CSS LLC/IL Sold out -50,150,000-50.1m
Calamos Advisors LLC Reduced -40,200,000-40.2m
Hudson Bay Capital Management LP Reduced -37,017,000-37.0m
MILLENNIUM MANAGEMENT LLC Sold out -30,389,000-30.4m

Holders, Q3 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Hudson Bay Capital Management LP 1.77% of their portfolio STAMFORD, CT 71,433,00071.4m $255.9m $255.9m 1.77% Reduced -37.0m -37,017,000
2 SONA ASSET MANAGEMENT (US) LLC 10.61% of their portfolio NEW YORK, NY 57,057,00057.1m $201.3m $201.3m 10.61% Added +7.5m +7,500,000
3 Skaana Management L.P. 18.85% of their portfolio BROOKLYN, NY 17,905,00017.9m $64.0m $64.0m 18.85% New
4 Alberta Investment Management Corp 0.39% of their portfolio EDMONTON, A0 12,500,00012.5m $44.9m $44.9m 0.39% Unchanged
5 Calamos Advisors LLC 0.20% of their portfolio NAPERVILLE, IL 11,616,00011.6m $41.6m $41.6m 0.20% Reduced -40.2m -40,200,000
6 Daiwa Securities Group Inc. 0.17% of their portfolio CHIYODA-KU,TOKYO, M0 10,000,00010.0m $35.9m $35.9m 0.17% Unchanged
7 VOYA INVESTMENT MANAGEMENT LLC 0.04% of their portfolio ATLANTA, GA 9,505,0009.5m $34.0m $34.0m 0.04% Reduced -11.7m -11,650,000
8 LAZARD ASSET MANAGEMENT LLC 0.04% of their portfolio NEW YORK, NY 8,938,0008.9m $32.0m $32.0m 0.04% Reduced -413.0k -413,000
9 MacKay Shields LLC 0.77% of their portfolio New York, NY 7,825,0007.8m $28.0m $28.0m 0.77% Unchanged
10 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 6,693,0006.7m $23.9m $23.9m 0.00% Reduced -17.2m -17,200,000
11 LORD, ABBETT & CO. LLC 0.07% of their portfolio JERSEY CITY, NJ 6,395,0006.4m $22.9m $22.9m 0.07% Reduced -22.9m -22,933,000
12 Warberg Asset Management LLC 6.05% of their portfolio WINNETKA, IL 6,172,0006.2m $22.1m $22.1m 6.05% Added +6.0m +5,990,000
13 SSI INVESTMENT MANAGEMENT LLC 1.30% of their portfolio Los Angeles, CA 4,925,0004.9m $17.6m $17.6m 1.30% Reduced -2.7m -2,665,000
14 FMR LLC 0.00% of their portfolio BOSTON, MA 4,097,0004.1m $14.6m $14.6m 0.00% Reduced -12.8m -12,818,000
15 Paloma Partners Management Co 0.57% of their portfolio GREENWICH, CT 2,973,0003.0m $10.7m $10.7m 0.57% Unchanged
16 BlackRock, Inc. 0.00% of their portfolio New York, NY 2,727,0002.7m $9.7m $9.7m 0.00% First filing
17 Flow State Investments, L.P. 3.95% of their portfolio CHICAGO, IL 2,500,0002.5m $8.9m $8.9m 3.95% Reduced -8.4m -8,384,000
18 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 2,300,0002.3m $8.2m $8.2m 0.01% Reduced -11.4m -11,443,000
19 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 2,177,0002.2m $8.6m $8.6m 0.00% Reduced -436.0k -436,000
20 ADVENT CAPITAL MANAGEMENT /DE/ 0.11% of their portfolio NEW YORK, NY 1,223,0001.2m $4.4m $4.4m 0.11% Reduced -5.2m -5,166,000
21 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,110,9001.1m $4.0m $4.0m 0.00% Added +1.1m +1,106,000
22 KORNITZER CAPITAL MANAGEMENT INC /KS 0.07% of their portfolio SHAWNEE MISSION, KS 1,000,0001.0m $3.6m $3.6m 0.07% Unchanged
23 WESTWOOD HOLDINGS GROUP INC 1.51% of their portfolio DALLAS, TX 1,000,0001.0m $357.4m $357.4m 1.51% Unchanged
24 AQR Arbitrage LLC 0.08% of their portfolio Greenwich, CT 1,000,0001.0m $3.6m $3.6m 0.08% Reduced -94.0m -93,950,000
25 AGF MANAGEMENT LTD 0.01% of their portfolio TORONTO, A6 800,000800.0k $2.9m $2.9m 0.01% Unchanged
26 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 648,000648.0k $2.3m $2.3m 0.00% Reduced -1.7m -1,744,000
27 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 508,000508.0k $1.8m $1.8m 0.00% Reduced -175.0k -175,000
28 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 350,000350.0k $1.3m $1.3m 0.00% Added +50.0k +50,000
29 LOOMIS SAYLES & CO L P 0.05% of their portfolio BOSTON, MA 205,425205.4k $36.4m $36.4m 0.05% Added +41.2k +41,213
30 Calamos Wealth Management LLC 0.04% of their portfolio NAPERVILLE, IL 200,000200.0k $716.7k $716.7k 0.04% Added +110.0k +110,000
31 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 164,000164.0k $586.9k $586.9k 0.00% Reduced -146.0k -146,000
32 Central Pacific Bank - Trust Division 0.07% of their portfolio HONOLULU, HI 163,000163.0k $582.6k $582.6k 0.07% Reduced -131.0k -131,000
33 Capital World Investors 0.00% of their portfolio LOS ANGELES, CA 152,000152.0k $544.0k $544.0k 0.00% Unchanged
34 EDMOND DE ROTHSCHILD HOLDING S.A. 0.01% of their portfolio CHAMBESY, V8 145,000145.0k $519.6k $519.6k 0.01% Reduced -435.0k -435,000
35 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 101,000101.0k $362.7k $362.7k 0.00% Unchanged
36 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 65,00065.0k $232.3k $232.3k 0.00% Unchanged
37 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 50,00050.0k $179.1k $179.1k 0.00% New
38 FIRST HAWAIIAN BANK 0.01% of their portfolio HONOLULU, HI 47,00047.0k $168.0k $168.0k 0.01% Reduced -38.0k -38,000
39 Virtus Investment Advisers, LLC 0.08% of their portfolio HARTFORD, CT 30,00030.0k $107.2k $107.2k 0.08% Unchanged
40 Squarepoint Ops LLC 0.25% of their portfolio NEW YORK, NY 21,50021.5k $76.0m $76.0m 0.25% Unchanged
41 RAYMOND JAMES & ASSOCIATES 0.00% of their portfolio ST PETERSBURG, FL 14,00014.0k $50.0k $50.0k 0.00% Added +1.0k +1,000
42 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 7,0007.0k $25.0k $25.0k 0.00% Reduced -263.0k -263,000
43 Triton Wealth Management, PLLC 0.60% of their portfolio SUN CITY, AZ 6,0346.0k $1.0m $1.0m 0.60% Reduced -100 -100
44 IQ EQ FUND MANAGEMENT (SINGAPORE) PRIVATE Ltd 0.33% of their portfolio SINGAPORE, U0 5,0005.0k $886.8k $886.8k 0.33% New
45 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 3,0003.0k $11.0k $11.0k 0.00% Unchanged
46 ROTHSCHILD INVESTMENT LLC 0.00% of their portfolio CHICAGO, IL 1,0001.0k $3.6k $3.6k 0.00% Unchanged
47 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged