Vault-13

SEAGATE HDD CAYMAN STX 3.5 06.01.28

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

54 institutional holders -7 vs Q4 2025
7,974,0558.0m shares reported held*
$1.7bnreported value*
9 new 5 added 32 reduced 16 sold out net sold ≈ $2.3bn (-105.6m 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 ($1.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $214.59. Options: 1 managers hold calls ($430.9k notional), 1 hold puts ($39.2k).

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

050100Q3 24: 83Q4 24: 80Q1 25: 86Q2 25: 80Q3 25: 67Q4 25: 61Q1 26: 5454Q3 24Q1 25Q3 25Q1 26
Numbers
QuarterHolders
Q3 202483
Q4 202480
Q1 202586
Q2 202580
Q3 202567
Q4 202561
Q1 202654

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 25Q4 25: 17 bought or addedQ4 25: 44 cut or sold outQ4 25Q1 26: 14 bought or addedQ1 26: 48 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q4 20244142
Q1 20254236
Q2 20253744
Q3 20252550
Q4 20251744
Q1 20261448

Calls vs puts

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

CallsPuts
$0$1m$2m$3mQ2 25 calls: $2.5mQ2 25 puts: $1.6mQ2 25P/C 0.65Q3 25 calls: $779.0kQ3 25 puts: $236.1kQ3 25P/C 0.30Q4 25 calls: $0Q4 25 puts: $0Q4 25P/C —Q1 26 calls: $430.9kQ1 26 puts: $39.2kQ1 26P/C 0.09
Numbers
QuarterCallsPutsP/C
Q2 2025$2.5m$1.6m0.65
Q3 2025$779.0k$236.1k0.30
Q4 2025$0$0—
Q1 2026$430.9k$39.2k0.09

Biggest buyers

VOYA INVESTMENT MANAGEMENT LLC New +50,355,000+50.4m
BANK OF NOVA SCOTIA Added +12,982,625+13.0m
JPMORGAN CHASE & CO Added +12,223,000+12.2m
SSI INVESTMENT MANAGEMENT LLC New +2,098,000+2.1m
JANE STREET GROUP, LLC New +1,565,000+1.6m
Warberg Asset Management LLC Added +1,308,000+1.3m
MORGAN STANLEY New +604,000+604.0k
DNCA FINANCE New +120,000+120.0k
Virtus Fixed Income Advisers, LLC New +107,000+107.0k
SG Americas Securities, LLC New +60,000+60.0k

Biggest sellers

MILLENNIUM MANAGEMENT LLC Sold out -107,500,000-107.5m
CITADEL ADVISORS LLC Sold out -100,000,000-100.0m
Aequim Alternative Investments LP Reduced -71,682,000-71.7m
SUSQUEHANNA ADVISORS GROUP, INC. Sold out -66,259,000-66.3m
D. E. Shaw & Co., Inc. Sold out -52,752,000-52.8m
Sculptor Capital LP Reduced -47,900,000-47.9m
TWO SIGMA INVESTMENTS, LP Reduced -35,628,000-35.6m
Calamos Advisors LLC Reduced -30,219,000-30.2m
SILVERBACK ASSET MANAGEMENT LLC Sold out -15,438,000-15.4m
FMR LLC Reduced -13,480,000-13.5m

Biggest calls

Limestone Investment Advisors LP New $430.9k1.1k shares

Biggest puts

Limestone Investment Advisors LP New $39.2k100 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, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VOYA INVESTMENT MANAGEMENT LLC 0.25% of their portfolio ATLANTA, GA 50,355,00050.4m $239.2m $239.2m 0.25% New
2 Aequim Alternative Investments LP 3.99% of their portfolio MILL VALLEY, CA 43,318,00043.3m $205.8m $205.8m 3.99% Reduced -71.7m -71,682,000
3 BANK OF MONTREAL /CAN/ 0.07% of their portfolio TORONTO, A6 39,818,00039.8m $178.8m $178.8m 0.07% Reduced -5.2m -5,230,000
4 Alberta Investment Management Corp 0.95% of their portfolio EDMONTON, A0 32,500,00032.5m $153.8m $153.8m 0.95% Unchanged
5 BANK OF NOVA SCOTIA 0.23% of their portfolio TORONTO, A6 28,162,62528.2m $133.3m $133.3m 0.23% Added +13.0m +12,982,625
6 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 22,776,00022.8m $1.1m $1.1m 0.00% Reduced -4.0m -4,013,000
7 TWO SIGMA INVESTMENTS, LP 0.07% of their portfolio NEW YORK, NY 16,872,00016.9m $80.1m $80.1m 0.07% Reduced -35.6m -35,628,000
8 BNP PARIBAS FINANCIAL MARKETS 0.05% of their portfolio PARIS, I0 15,911,00015.9m $75.5m $75.5m 0.05% Reduced -1.3m -1,349,000
9 TENOR CAPITAL MANAGEMENT Co., L.P. 1.00% of their portfolio NEW YORK, NY 13,621,00013.6m $64.7m $64.7m 1.00% Unchanged
10 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 12,818,00012.8m $55.6m $55.6m 0.00% Added +12.2m +12,223,000
11 Calamos Advisors LLC 0.20% of their portfolio NAPERVILLE, IL 10,742,00010.7m $50.8m $50.8m 0.20% Reduced -30.2m -30,219,000
12 M&G PLC 0.23% of their portfolio London, X0 9,479,0009.5m $45.0m $45.0m 0.23% Reduced -808.0k -808,000
13 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 8,644,0008.6m $41.0m $41.0m 0.00% Reduced -12.6m -12,600,000
14 Warberg Asset Management LLC 10.50% of their portfolio WINNETKA, IL 7,592,0007.6m $36.0m $36.0m 10.50% Added +1.3m +1,308,000
15 MacKay Shields LLC 1.16% of their portfolio New York, NY 6,638,0006.6m $31.5m $31.5m 1.16% Reduced -6.7m -6,655,000
16 BlackRock, Inc. 0.00% of their portfolio New York, NY 6,475,0006.5m $30.7m $30.7m 0.00% Reduced -6.2m -6,200,000
17 FMR LLC 0.00% of their portfolio BOSTON, MA 6,024,0006.0m $28.6m $28.6m 0.00% Reduced -13.5m -13,480,000
18 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.02% of their portfolio Toronto, A6 5,850,0005.8m $27.8m $27.8m 0.02% Reduced -2.6m -2,650,000
19 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.03% of their portfolio Paris, I0 5,105,0005.1m $24.2m $24.2m 0.03% Unchanged
20 Nuveen, LLC 0.01% of their portfolio CHARLOTTE, NC 4,850,0004.8m $23.0m $23.0m 0.01% Reduced -825.0k -825,000
21 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 3,844,0003.8m $18.3m $18.3m 0.00% Reduced -2.0m -1,995,000
22 LORD, ABBETT & CO. LLC 0.04% of their portfolio JERSEY CITY, NJ 2,826,0002.8m $13.4m $13.4m 0.04% Reduced -2.2m -2,219,000
23 Sculptor Capital LP 0.11% of their portfolio New York, NY 2,100,0002.1m $10.0m $10.0m 0.11% Reduced -47.9m -47,900,000
24 SSI INVESTMENT MANAGEMENT LLC 0.69% of their portfolio Los Angeles, CA 2,098,0002.1m $10.0m $10.0m 0.69% New
25 Nicholas Investment Partners, LP 0.71% of their portfolio RANCHO SANTA FE, CA 2,070,0002.1m $9.8m $9.8m 0.71% Reduced -2.8m -2,810,000
26 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 1,955,0002.0m $9.2m $9.2m 0.00% Reduced -2.0m -1,968,000
27 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 1,565,0001.6m $7.2m $7.2m 0.01% New
28 ADVENT CAPITAL MANAGEMENT /DE/ 0.20% of their portfolio NEW YORK, NY 1,427,0001.4m $6.8m $6.8m 0.20% Added +27.0k +27,000
29 CONNING INC. 0.19% of their portfolio HARTFORD, CT 1,200,0001.2m $5.7m $5.7m 0.19% Reduced -800.0k -800,000
30 Union Bancaire Privee, UBP SA 0.05% of their portfolio GENEVA 1, V8 835,000835.0k $3.3m $3.3m 0.05% Reduced -685.0k -685,000
31 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 604,000604.0k $2.9m $2.9m 0.00% New
32 Kohlberg Kravis Roberts & Co. L.P. 0.04% of their portfolio NEW YORK, NY 395,000395.0k $1.9m $1.9m 0.04% Reduced -11.8m -11,826,000
33 Police & Firemen's Retirement System of New Jersey 0.02% of their portfolio TRENTON, NJ 380,000380.0k $1.8m $1.8m 0.02% Unchanged
34 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 320,000320.0k $1.4m $1.4m 0.00% Reduced -30.0k -30,000
35 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 281,000281.0k $1.3m $1.3m 0.00% Reduced -1.2m -1,166,000
36 AGF MANAGEMENT LTD 0.00% of their portfolio TORONTO, A6 175,000175.0k $830.8k $830.8k 0.00% Unchanged
37 Calamos Wealth Management LLC 0.02% of their portfolio NAPERVILLE, IL 146,000146.0k $691.1k $691.1k 0.02% Reduced -103.0k -103,000
38 DNCA FINANCE 0.03% of their portfolio PARIS, I0 120,000120.0k $539.1k $539.1k 0.03% New
39 Jefferies Financial Group Inc. 0.01% of their portfolio NEW YORK, NY 115,000115.0k $545.3k $545.3k 0.01% Added +8.0k +8,000
40 Virtus Fixed Income Advisers, LLC 0.41% of their portfolio HARTFORD, CT 107,000107.0k $507.9k $507.9k 0.41% New
41 Central Pacific Bank - Trust Division 0.06% of their portfolio HONOLULU, HI 101,000101.0k $479.5k $479.5k 0.06% Reduced -225.0k -225,000
42 Ares Systematic Credit Ltd 0.35% of their portfolio LONDON, X0 100,000100.0k $439.6k $439.6k 0.35% Unchanged
43 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 72,00072.0k $341.8k $341.8k 0.00% Reduced -6.9m -6,889,000
44 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 61,00061.0k $289.6k $289.6k 0.00% Reduced -65.0k -65,000
45 SG Americas Securities, LLC 0.03% of their portfolio NEW YORK, NY 60,00060.0k $27.8m $27.8m 0.03% New
46 LOOMIS SAYLES & CO L P 0.03% of their portfolio BOSTON, MA 59,94859.9k $23.5m $23.5m 0.03% Reduced -11.8k -11,845
47 UBS Group AG 0.00% of their portfolio ZURICH, V8 42,00042.0k $199.4k $199.4k 0.00% New
48 VIRTUS ADVISERS, LLC 0.05% of their portfolio HARTFORD, CT 24,00024.0k $113.9k $113.9k 0.05% Reduced -11.0k -11,000
49 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 21,00021.0k $99.3k $99.3k 0.00% Reduced -26.0k -26,000
50 Boussard & Gavaudan Investment Management LLP 3.59% of their portfolio London, X0 8,3228.3k $37.4m $37.4m 3.59% Reduced -54.6k -54,625
51 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 1,0001.0k $4.7k $4.7k 0.00% Unchanged
52 Triton Wealth Management, PLLC 0.11% of their portfolio SUN CITY, AZ 690690 $290.9k $290.9k 0.11% New
53 ODDO BHF ASSET MANAGEMENT SAS 0.01% of their portfolio PARIS, I0 4343 $193.2k $193.2k 0.01% Reduced -26 -26
54 Erste Asset Management GmbH 0.00% of their portfolio VIENNA, C4 00 $0 $0 0.00% Unchanged