Vault-13

SEAGATE HDD CAYMAN STX 3.5 06.01.28

NOTE 3.500% 6/0 · US DOMESTIC · CUSIP 81180WBL4

67 institutional holders -13 vs Q2 2025
23,716,95123.7m shares reported held*
$4.0bnreported value*
7 new 18 added 30 reduced 20 sold out net sold ≈ $63.4m (-32.4m 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 ($1.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $170.31. Options: 1 managers hold calls ($779.0k notional), 1 hold puts ($236.1k).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

050100Q3 24: 83Q4 24: 80Q1 25: 86Q2 25: 80Q3 25: 6767Q3 24Q4 24Q1 25Q2 25Q3 25
Numbers
QuarterHolders
Q3 202483
Q4 202480
Q1 202586
Q2 202580
Q3 202567

Buyers vs sellers

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

Bought or addedCut or sold out
50050Q4 24: 41 bought or addedQ4 24: 42 cut or sold outQ4 24Q1 25: 42 bought or addedQ1 25: 36 cut or sold outQ1 25Q2 25: 37 bought or addedQ2 25: 44 cut or sold outQ2 25Q3 25: 25 bought or addedQ3 25: 50 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 20244142
Q1 20254236
Q2 20253744
Q3 20252550

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$1m$2m$3mQ4 24 calls: $0Q4 24 puts: $0Q4 24P/C —Q1 25 calls: $475.7kQ1 25 puts: $637.1kQ1 25P/C 1.34Q2 25 calls: $2.5mQ2 25 puts: $1.6mQ2 25P/C 0.65Q3 25 calls: $779.0kQ3 25 puts: $236.1kQ3 25P/C 0.30
Numbers
QuarterCallsPutsP/C
Q4 2024$0$0—
Q1 2025$475.7k$637.1k1.34
Q2 2025$2.5m$1.6m0.65
Q3 2025$779.0k$236.1k0.30

Biggest buyers

TENOR CAPITAL MANAGEMENT Co., L.P. New +176,548,000+176.5m
D. E. Shaw & Co., Inc. Added +67,392,000+67.4m
CITADEL ADVISORS LLC Added +51,798,000+51.8m
Opti Capital Management, LP New +43,371,000+43.4m
Polar Asset Management Partners Inc. New +25,000,000+25.0m
SUSQUEHANNA ADVISORS GROUP, INC. Added +21,500,000+21.5m
BANK OF NOVA SCOTIA Added +19,300,000+19.3m
Point72 Asset Management, L.P. Added +11,788,000+11.8m
Aequim Alternative Investments LP Added +10,500,000+10.5m
Kohlberg Kravis Roberts & Co. L.P. Added +7,141,000+7.1m

Biggest sellers

DLD Asset Management, LP Sold out -47,500,000-47.5m
WOLVERINE ASSET MANAGEMENT LLC Sold out -42,640,000-42.6m
CAMDEN ASSET MANAGEMENT L P /CA Sold out -42,431,000-42.4m
AQR Arbitrage LLC Sold out -34,440,000-34.4m
Sculptor Capital LP Reduced -30,000,000-30.0m
MILLENNIUM MANAGEMENT LLC Reduced -25,000,000-25.0m
M&G PLC Reduced -24,621,000-24.6m
Jain Global LLC Sold out -23,500,000-23.5m
CSS LLC/IL Sold out -19,458,000-19.5m
VOYA INVESTMENT MANAGEMENT LLC Reduced -18,765,000-18.8m

Biggest calls

Limestone Investment Advisors LP Reduced $779.0k3.3k shares

Biggest puts

Limestone Investment Advisors LP Reduced $236.1k1.0k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 D. E. Shaw & Co., Inc. 0.45% of their portfolio New York, NY 192,852,000192.9m $555.5m $555.5m 0.45% Added +67.4m +67,392,000
2 TENOR CAPITAL MANAGEMENT Co., L.P. 6.69% of their portfolio NEW YORK, NY 176,548,000176.5m $509.6m $509.6m 6.69% New
3 Point72 Asset Management, L.P. 0.82% of their portfolio STAMFORD, CT 130,743,000130.7m $376.6m $376.6m 0.82% Added +11.8m +11,788,000
4 CITADEL ADVISORS LLC 0.29% of their portfolio MIAMI, FL 126,798,000126.8m $365.2m $365.2m 0.29% Added +51.8m +51,798,000
5 Davidson Kempner Capital Management LP 3.42% of their portfolio New York, NY 85,000,00085.0m $244.8m $244.8m 3.42% Unchanged
6 Aequim Alternative Investments LP 4.70% of their portfolio MILL VALLEY, CA 73,500,00073.5m $211.8m $211.8m 4.70% Added +10.5m +10,500,000
7 SUSQUEHANNA ADVISORS GROUP, INC. 0.06% of their portfolio BALA CYNWYD, PA 62,721,00062.7m $1.8m $1.8m 0.06% Added +21.5m +21,500,000
8 Calamos Advisors LLC 0.64% of their portfolio NAPERVILLE, IL 55,286,00055.3m $158.5m $158.5m 0.64% Reduced -4.1m -4,128,000
9 Opti Capital Management, LP 7.82% of their portfolio New York, NY 43,371,00043.4m $125.2m $125.2m 7.82% New
10 Sculptor Capital LP 1.48% of their portfolio New York, NY 37,500,00037.5m $107.5m $107.5m 1.48% Reduced -30.0m -30,000,000
11 BANK OF NOVA SCOTIA 0.17% of their portfolio TORONTO, A6 34,300,00034.3m $98.8m $98.8m 0.17% Added +19.3m +19,300,000
12 Alberta Investment Management Corp 0.68% of their portfolio EDMONTON, A0 32,500,00032.5m $93.2m $93.2m 0.68% Added +5.0m +5,000,000
13 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 30,694,00030.7m $88.1m $88.1m 0.00% Added +2.1m +2,100,000
14 TWO SIGMA INVESTMENTS, LP 0.13% of their portfolio NEW YORK, NY 29,940,00029.9m $86.2m $86.2m 0.13% Added +5.0m +5,000,000
15 MacKay Shields LLC 2.51% of their portfolio New York, NY 25,568,00025.6m $73.7m $73.7m 2.51% Reduced -4.6m -4,572,000
16 Polar Asset Management Partners Inc. 1.46% of their portfolio TORONTO, A6 25,000,00025.0m $72.0m $72.0m 1.46% New
17 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 22,072,00022.1m $62.1m $62.1m 0.00% Reduced -16.8m -16,805,000
18 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 20,434,00020.4m $588.9k $588.9k 0.00% Reduced -14.5m -14,532,000
19 BlackRock, Inc. 0.00% of their portfolio New York, NY 20,425,00020.4m $58.8m $58.8m 0.00% Added +1.3m +1,255,000
20 FMR LLC 0.00% of their portfolio BOSTON, MA 19,993,00020.0m $57.6m $57.6m 0.00% Reduced -13.6m -13,625,000
21 MILLENNIUM MANAGEMENT LLC 0.04% of their portfolio NEW YORK, NY 17,500,00017.5m $50.4m $50.4m 0.04% Reduced -25.0m -25,000,000
22 VOYA INVESTMENT MANAGEMENT LLC 0.05% of their portfolio ATLANTA, GA 16,535,00016.5m $47.7m $47.7m 0.05% Reduced -18.8m -18,765,000
23 M&G PLC 0.24% of their portfolio London, X0 15,772,00015.8m $45.3m $45.3m 0.24% Reduced -24.6m -24,621,000
24 SILVERBACK ASSET MANAGEMENT LLC 5.77% of their portfolio DURHAM, NC 15,438,00015.4m $44.5m $44.5m 5.77% Reduced -5.6m -5,562,000
25 BANK OF MONTREAL /CAN/ 0.02% of their portfolio TORONTO, A6 15,000,00015.0m $42.2m $42.2m 0.02% Reduced -5.0m -5,000,000
26 Kohlberg Kravis Roberts & Co. L.P. 0.62% of their portfolio NEW YORK, NY 12,921,00012.9m $37.2m $37.2m 0.62% Added +7.1m +7,141,000
27 LORD, ABBETT & CO. LLC 0.10% of their portfolio JERSEY CITY, NJ 11,821,00011.8m $34.1m $34.1m 0.10% Reduced -7.8m -7,777,000
28 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 11,056,00011.1m $31.9m $31.9m 0.01% Reduced -2.7m -2,693,000
29 Nuveen, LLC 0.01% of their portfolio CHARLOTTE, NC 10,400,00010.4m $30.0m $30.0m 0.01% Unchanged
30 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.02% of their portfolio Toronto, A6 9,700,0009.7m $28.0m $28.0m 0.02% Added +500.0k +500,000
31 Warberg Asset Management LLC 7.34% of their portfolio WINNETKA, IL 9,091,0009.1m $26.2m $26.2m 7.34% Added +31.0k +31,000
32 SSI INVESTMENT MANAGEMENT LLC 1.77% of their portfolio Los Angeles, CA 9,014,9989.0m $26.0m $26.0m 1.77% Reduced -2.2m -2,165,002
33 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 6,500,0006.5m $18.7m $18.7m 0.00% Added +500.0k +500,000
34 RPO LLC 18.02% of their portfolio Stamford, CT 5,000,0005.0m $14.3m $14.3m 18.02% Unchanged
35 Nicholas Investment Partners, LP 1.07% of their portfolio RANCHO SANTA FE, CA 4,880,0004.9m $14.1m $14.1m 1.07% Added +900.0k +900,000
36 BARCLAYS PLC 0.01% of their portfolio LONDON, X0 4,858,0004.9m $13.7m $13.7m 0.01% Added +1.1m +1,124,000
37 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 4,569,0004.6m $13.1m $13.1m 0.00% Reduced -10.9m -10,857,000
38 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.03% of their portfolio Paris, I0 4,500,0004.5m $12.9m $12.9m 0.03% Unchanged
39 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 4,499,0004.5m $13.0m $13.0m 0.01% Reduced -6.1m -6,146,000
40 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 4,204,0004.2m $12.1m $12.1m 0.00% Reduced -2.8m -2,762,000
41 BOOTHBAY FUND MANAGEMENT, LLC 0.27% of their portfolio NEW YORK, NY 3,750,0003.8m $10.8m $10.8m 0.27% Unchanged
42 CONNING INC. 0.24% of their portfolio HARTFORD, CT 2,500,0002.5m $7.2m $7.2m 0.24% Reduced -1.1m -1,100,000
43 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 2,359,0002.4m $6.8m $6.8m 0.01% Reduced -7.9m -7,898,000
44 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 2,000,0002.0m $5.8m $5.8m 0.00% Reduced -4.5m -4,500,000
45 Union Bancaire Privee, UBP SA 0.06% of their portfolio GENEVA 1, V8 1,995,0002.0m $4.5m $4.5m 0.06% Reduced -845.0k -845,000
46 WESTWOOD HOLDINGS GROUP INC 0.03% of their portfolio DALLAS, TX 1,500,0001.5m $4.3m $4.3m 0.03% Unchanged
47 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 1,050,0001.1m $3.0m $3.0m 0.00% Reduced -50.0k -50,000
48 AXA Investment Managers S.A. 0.01% of their portfolio PUTEAUX, I0 1,050,0001.1m $3.0m $3.0m 0.01% First filing
49 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 969,000969.0k $2.8m $2.8m 0.00% Added +301.0k +301,000
50 ADVENT CAPITAL MANAGEMENT /DE/ 0.06% of their portfolio NEW YORK, NY 950,000950.0k $2.7m $2.7m 0.06% Reduced -176.0k -176,000
51 PALISADE CAPITAL MANAGEMENT, LP 0.04% of their portfolio FORT LEE, NJ 500,000500.0k $1.4m $1.4m 0.04% Unchanged
52 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 473,000473.0k $1.4m $1.4m 0.00% New
53 Central Pacific Bank - Trust Division 0.16% of their portfolio HONOLULU, HI 454,000454.0k $1.3m $1.3m 0.16% Reduced -114.0k -114,000
54 Calamos Wealth Management LLC 0.04% of their portfolio NAPERVILLE, IL 412,000412.0k $1.2m $1.2m 0.04% Reduced -37.0k -37,000
55 Police & Firemen's Retirement System of New Jersey 0.01% of their portfolio TRENTON, NJ 380,000380.0k $1.1m $1.1m 0.01% Reduced -525.0k -525,000
56 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 240,000240.0k $691.2k $691.2k 0.00% Unchanged
57 ABN AMRO INVESTMENT SOLUTIONS 0.01% of their portfolio PARIS CEDEX 008, I0 200,000200.0k $576.4k $576.4k 0.01% Unchanged
58 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 197,000197.0k $565.3k $565.3k 0.00% Reduced -169.0k -169,000
59 VIRTUS ADVISERS, LLC 0.10% of their portfolio HARTFORD, CT 65,00065.0k $187.2k $187.2k 0.10% Unchanged
60 LOOMIS SAYLES & CO L P 0.02% of their portfolio BOSTON, MA 56,42856.4k $13.3m $13.3m 0.02% Reduced -46.1k -46,088
61 Boussard & Gavaudan Investment Management LLP 8.89% of their portfolio London, X0 25,56425.6k $71.8m $71.8m 8.89% Added +16.6k +16,564
62 Stonegate Investment Group, LLC 0.00% of their portfolio BIRMINGHAM, AL 20,00020.0k $55.8k $55.8k 0.00% Reduced -3.0k -3,000
63 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 16,00016.0k $44.7k $44.7k 0.00% New
64 INDEPENDENT FINANCIAL GROUP, LLC 0.02% of their portfolio SAN DIEGO, CA 4,3874.4k $1.0m $1.0m 0.02% New
65 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 1,0001.0k $2.9k $2.9k 0.00% New
66 Candriam S.C.A. 0.00% of their portfolio STRASSEN, N4 200200 $563.6k $563.6k 0.00% Unchanged
67 Erste Asset Management GmbH 0.00% of their portfolio VIENNA, C4 00 $0 $0 0.00% Reduced -1.0m -1,000,000