Vault-13

SEAGATE HDD CAYMAN STX 3.5 06.01.28

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

35 institutional holders -19 vs Q1 2026
30,664,01430.7m shares reported held*
$2.0bnreported value*
6 new 2 added 23 reduced 25 sold out net sold ≈ $2.1bn (+22.7m 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 ($868.6k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $64.25.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

050100Q3 24: 83Q4 24: 80Q1 25: 86Q2 25: 80Q3 25: 67Q4 25: 61Q1 26: 54Q2 26: 3535Q3 24Q1 25Q3 25Q1 26Q2 26
Numbers
QuarterHolders
Q3 202483
Q4 202480
Q1 202586
Q2 202580
Q3 202567
Q4 202561
Q1 202654
Q2 202635

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 outQ2 25: 37 bought or addedQ2 25: 44 cut or sold outQ2 25Q3 25: 25 bought or addedQ3 25: 50 cut or sold outQ4 25: 17 bought or addedQ4 25: 44 cut or sold outQ4 25Q1 26: 14 bought or addedQ1 26: 48 cut or sold outQ2 26: 8 bought or addedQ2 26: 48 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q4 20244142
Q1 20254236
Q2 20253744
Q3 20252550
Q4 20251744
Q1 20261448
Q2 2026848

Calls vs puts

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

CallsPuts
$0$200k$400k$600k$800kQ3 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 0.09Q2 26 calls: $0Q2 26 puts: $0Q2 26P/C —
Numbers
QuarterCallsPutsP/C
Q3 2025$779.0k$236.1k0.30
Q4 2025$0$0—
Q1 2026$430.9k$39.2k0.09
Q2 2026$0$0—

Biggest buyers

Elequin Capital, LP New +41,274,000+41.3m
Ovata Capital Management Ltd New +30,559,000+30.6m
VOYA INVESTMENT MANAGEMENT LLC Added +9,825,000+9.8m
BNP PARIBAS ASSET MANAGEMENT Holding S.A. New +3,700,000+3.7m
SSI INVESTMENT MANAGEMENT LLC New +1,392,000+1.4m
Capital World Investors New +172,000+172.0k
AQR Arbitrage LLC New +20,000+20.0k
Calamos Wealth Management LLC Added +5,000+5.0k

Biggest sellers

Aequim Alternative Investments LP Sold out -43,318,000-43.3m
BANK OF MONTREAL /CAN/ Sold out -39,818,000-39.8m
Alberta Investment Management Corp Sold out -32,500,000-32.5m
BANK OF NOVA SCOTIA Reduced -25,392,312-25.4m
LAZARD ASSET MANAGEMENT LLC Sold out -22,776,000-22.8m
BNP PARIBAS FINANCIAL MARKETS Sold out -15,911,000-15.9m
TENOR CAPITAL MANAGEMENT Co., L.P. Sold out -13,621,000-13.6m
JPMORGAN CHASE & CO Sold out -12,818,000-12.8m
TWO SIGMA INVESTMENTS, LP Reduced -11,678,000-11.7m
STATE STREET CORP Sold out -8,644,000-8.6m

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VOYA INVESTMENT MANAGEMENT LLC 0.61% of their portfolio ATLANTA, GA 60,180,00060.2m $702.4m $702.4m 0.61% Added +9.8m +9,825,000
2 Elequin Capital, LP 16.09% of their portfolio NEW YORK, NY 41,274,00041.3m $481.5m $481.5m 16.09% New
3 Ovata Capital Management Ltd 26.81% of their portfolio HONG KONG, K3 30,559,00030.6m $357.3m $357.3m 26.81% New
4 Calamos Advisors LLC 0.29% of their portfolio NAPERVILLE, IL 6,917,0006.9m $81.2m $81.2m 0.29% Reduced -3.8m -3,825,000
5 M&G PLC 0.34% of their portfolio London, X0 5,871,0005.9m $68.7m $68.7m 0.34% Reduced -3.6m -3,608,000
6 TWO SIGMA INVESTMENTS, LP 0.05% of their portfolio NEW YORK, NY 5,194,0005.2m $60.6m $60.6m 0.05% Reduced -11.7m -11,678,000
7 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.04% of their portfolio Paris, I0 3,700,0003.7m $43.4m $43.4m 0.04% New
8 BANK OF NOVA SCOTIA 0.05% of their portfolio TORONTO, A6 2,770,3132.8m $32.5m $32.5m 0.05% Reduced -25.4m -25,392,312
9 Nuveen, LLC 0.01% of their portfolio CHARLOTTE, NC 2,150,0002.1m $25.1m $25.1m 0.01% Reduced -2.7m -2,700,000
10 Nicholas Investment Partners, LP 1.20% of their portfolio RANCHO SANTA FE, CA 1,820,0001.8m $21.2m $21.2m 1.20% Reduced -250.0k -250,000
11 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 1,561,0001.6m $18.2m $18.2m 0.00% Reduced -2.3m -2,283,000
12 SSI INVESTMENT MANAGEMENT LLC 0.94% of their portfolio Los Angeles, CA 1,392,0001.4m $16.2m $16.2m 0.94% New
13 LORD, ABBETT & CO. LLC 0.03% of their portfolio JERSEY CITY, NJ 753,000753.0k $8.8m $8.8m 0.03% Reduced -2.1m -2,073,000
14 CONNING INC. 0.21% of their portfolio HARTFORD, CT 600,000600.0k $7.0m $7.0m 0.21% Reduced -600.0k -600,000
15 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 580,000580.0k $6.8m $6.8m 0.00% Reduced -24.0k -24,000
16 ADVENT CAPITAL MANAGEMENT /DE/ 0.13% of their portfolio NEW YORK, NY 485,000485.0k $5.7m $5.7m 0.13% Reduced -942.0k -942,000
17 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 416,000416.0k $4.9m $4.9m 0.00% Reduced -1.5m -1,539,000
18 FMR LLC 0.00% of their portfolio BOSTON, MA 300,000300.0k $3.5m $3.5m 0.00% Reduced -5.7m -5,724,000
19 AGF MANAGEMENT LTD 0.01% of their portfolio TORONTO, A6 175,000175.0k $2.0m $2.0m 0.01% Unchanged
20 Capital World Investors 0.00% of their portfolio LOS ANGELES, CA 172,000172.0k $2.0m $2.0m 0.00% New
21 Calamos Wealth Management LLC 0.05% of their portfolio NAPERVILLE, IL 151,000151.0k $1.8m $1.8m 0.05% Added +5.0k +5,000
22 Union Bancaire Privee, UBP SA 0.01% of their portfolio GENEVA 1, V8 106,000106.0k $1.0m $1.0m 0.01% Reduced -729.0k -729,000
23 Police & Firemen's Retirement System of New Jersey 0.01% of their portfolio TRENTON, NJ 74,00074.0k $868.6k $868.6k 0.01% Reduced -306.0k -306,000
24 Central Pacific Bank - Trust Division 0.08% of their portfolio HONOLULU, HI 68,00068.0k $793.3k $793.3k 0.08% Reduced -33.0k -33,000
25 Axxion S.A. 0.04% of their portfolio GREVENMACHER, N4 40,00040.0k $505.8k $505.8k 0.04% First filing
26 Virtus Fixed Income Advisers, LLC 0.26% of their portfolio HARTFORD, CT 35,00035.0k $408.3k $408.3k 0.26% Reduced -72.0k -72,000
27 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 30,00030.0k $342.9k $342.9k 0.00% Reduced -290.0k -290,000
28 AQR Arbitrage LLC 0.00% of their portfolio Greenwich, CT 20,00020.0k $233.4k $233.4k 0.00% New
29 LOOMIS SAYLES & CO L P 0.02% of their portfolio BOSTON, MA 16,27416.3k $15.7m $15.7m 0.02% Reduced -43.7k -43,674
30 UBS Group AG 0.00% of their portfolio ZURICH, V8 14,00014.0k $163.3k $163.3k 0.00% Reduced -28.0k -28,000
31 VIRTUS ADVISERS, LLC 0.03% of their portfolio HARTFORD, CT 6,0006.0k $70.0k $70.0k 0.03% Reduced -18.0k -18,000
32 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 6,0006.0k $70.5k $70.5k 0.00% Reduced -15.0k -15,000
33 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 1,0001.0k $11.7k $11.7k 0.00% Unchanged
34 ODDO BHF ASSET MANAGEMENT SAS 0.01% of their portfolio PARIS, I0 1414 $164.2k $164.2k 0.01% Reduced -29 -29
35 Erste Asset Management GmbH 0.00% of their portfolio VIENNA, C4 00 $0 $0 0.00% Unchanged