Vault-13

SHIFT4 PMTS INC FOUR 0 12.15.25

NOTE 12/1 · US DOMESTIC · CUSIP 82452JAB5

50 institutional holders +1 vs Q1 2025
500,372500.4k shares reported held*
$916.0mreported value*
6 new 13 added 15 reduced 5 sold out net sold ≈ $20.8m (-1.2k 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. Holder counts are more reliable. Implied quarter-end price ≈ $1830.62.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0255075Q3 22: 58Q4 22: 55Q1 23: 58Q2 23: 62Q3 23: 64Q4 23: 65Q1 24: 64Q2 24: 60Q3 24: 67Q4 24: 54Q1 25: 49Q2 25: 5050Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202258
Q4 202255
Q1 202358
Q2 202362
Q3 202364
Q4 202365
Q1 202464
Q2 202460
Q3 202467
Q4 202454
Q1 202549
Q2 202550

Buyers vs sellers

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

Bought or addedCut or sold out
50050Q3 23: 28 bought or addedQ3 23: 27 cut or sold outQ4 23: 31 bought or addedQ4 23: 26 cut or sold outQ4 23Q1 24: 37 bought or addedQ1 24: 29 cut or sold outQ2 24: 20 bought or addedQ2 24: 32 cut or sold outQ2 24Q3 24: 26 bought or addedQ3 24: 34 cut or sold outQ4 24: 26 bought or addedQ4 24: 44 cut or sold outQ4 24Q1 25: 18 bought or addedQ1 25: 30 cut or sold outQ2 25: 19 bought or addedQ2 25: 20 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20232827
Q4 20233126
Q1 20243729
Q2 20242032
Q3 20242634
Q4 20242644
Q1 20251830
Q2 20251920

Biggest buyers

CSS LLC/IL Added +13,210,000+13.2m
Thrivent Financial for Lutherans New +13,025,000+13.0m
HIGHBRIDGE CAPITAL MANAGEMENT LLC Added +9,880,000+9.9m
BARCLAYS PLC Added +4,299,000+4.3m
LAZARD ASSET MANAGEMENT LLC Added +3,872,000+3.9m
ROYAL BANK OF CANADA New +3,150,000+3.1m
SCHRODER INVESTMENT MANAGEMENT GROUP Added +3,050,000+3.0m
JPMORGAN CHASE & CO Added +2,437,000+2.4m
Man Group plc Added +2,350,000+2.4m
CITIGROUP INC Added +2,169,000+2.2m

Biggest sellers

FRANKLIN RESOURCES INC Sold out -27,000,000-27.0m
MILLENNIUM MANAGEMENT LLC Reduced -9,361,000-9.4m
SHENKMAN CAPITAL MANAGEMENT INC Reduced -7,658,000-7.7m
JANE STREET GROUP, LLC Reduced -7,203,000-7.2m
WELLINGTON MANAGEMENT GROUP LLP Reduced -7,052,000-7.1m
TWO SIGMA INVESTMENTS, LP Reduced -6,500,000-6.5m
CAPSTONE INVESTMENT ADVISORS, LLC Reduced -5,000,000-5.0m
Calamos Advisors LLC Reduced -3,637,000-3.6m
BANK OF AMERICA CORP /DE/ Reduced -3,519,000-3.5m
MORGAN STANLEY Sold out -1,700,000-1.7m

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 TENOR CAPITAL MANAGEMENT Co., L.P. 1.88% of their portfolio NEW YORK, NY 110,500,000110.5m $139.6m $139.6m 1.88% Added +500.0k +500,000
2 D. E. Shaw & Co., Inc. 0.13% of their portfolio New York, NY 99,587,00099.6m $125.9m $125.9m 0.13% Unchanged
3 LAZARD ASSET MANAGEMENT LLC 0.15% of their portfolio NEW YORK, NY 86,345,00086.3m $109.4m $109.4m 0.15% Added +3.9m +3,872,000
4 DeepCurrents Investment Group LLC 3.60% of their portfolio NEW YORK, NY 77,933,00077.9m $98.5m $98.5m 3.60% Unchanged
5 MILLENNIUM MANAGEMENT LLC 0.07% of their portfolio NEW YORK, NY 60,000,00060.0m $75.8m $75.8m 0.07% Reduced -9.4m -9,361,000
6 CAPSTONE INVESTMENT ADVISORS, LLC 0.44% of their portfolio NEW YORK, NY 41,141,00041.1m $52.1m $52.1m 0.44% Reduced -5.0m -5,000,000
7 CSS LLC/IL 2.75% of their portfolio CHICAGO, IL 34,474,00034.5m $43.5m $43.5m 2.75% Added +13.2m +13,210,000
8 BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio PARIS, I0 24,681,00024.7m $31.2m $31.2m 0.02% Added +2.1m +2,066,000
9 TWO SIGMA INVESTMENTS, LP 0.05% of their portfolio NEW YORK, NY 21,400,00021.4m $27.0m $27.0m 0.05% Reduced -6.5m -6,500,000
10 BlackRock, Inc. 0.00% of their portfolio New York, NY 19,098,00019.1m $24.1m $24.1m 0.00% Reduced -1.0m -1,002,000
11 JANE STREET GROUP, LLC 0.03% of their portfolio NEW YORK, NY 14,430,00014.4m $18.3m $18.3m 0.03% Reduced -7.2m -7,203,000
12 HIGHBRIDGE CAPITAL MANAGEMENT LLC 0.92% of their portfolio NEW YORK, NY 14,250,00014.2m $17.9m $17.9m 0.92% Added +9.9m +9,880,000
13 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 13,487,00013.5m $17.0m $17.0m 0.00% Reduced -1.2m -1,200,000
14 Thrivent Financial for Lutherans 0.04% of their portfolio Minneapolis, MN 13,025,00013.0m $16.4m $16.4m 0.04% New
15 Calamos Advisors LLC 0.06% of their portfolio NAPERVILLE, IL 11,465,00011.5m $14.5m $14.5m 0.06% Reduced -3.6m -3,637,000
16 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 8,439,0008.4m $10.6m $10.6m 0.00% Added +2.4m +2,437,000
17 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 8,362,0008.4m $10.6m $10.6m 0.00% Added +4.3m +4,299,000
18 FMR LLC 0.00% of their portfolio BOSTON, MA 8,149,0008.1m $10.3m $10.3m 0.00% Unchanged
19 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 5,187,0005.2m $6.5m $6.5m 0.00% Reduced -7.1m -7,052,000
20 MacKay Shields LLC 0.20% of their portfolio New York, NY 4,945,0004.9m $6.2m $6.2m 0.20% Reduced -184.0k -184,000
21 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 4,309,0004.3m $5.4m $5.4m 0.00% Added +2.2m +2,169,000
22 SCHRODER INVESTMENT MANAGEMENT GROUP 0.00% of their portfolio London, X0 3,449,0003.4m $4.3m $4.3m 0.00% Added +3.0m +3,050,000
23 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 3,150,0003.1m $4.0m $4.0m 0.00% New
24 BANK OF NOVA SCOTIA 0.01% of their portfolio TORONTO, A6 3,000,0003.0m $3.8m $3.8m 0.01% Unchanged
25 Man Group plc 0.01% of their portfolio LONDON, X0 2,780,0002.8m $3.5m $3.5m 0.01% Added +2.4m +2,350,000
26 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 2,714,0002.7m $3.4m $3.4m 0.00% Reduced -3.5m -3,519,000
27 Jefferies Financial Group Inc. 0.05% of their portfolio NEW YORK, NY 2,421,0002.4m $3.1m $3.1m 0.05% Added +2.0m +1,951,000
28 ADVENT CAPITAL MANAGEMENT /DE/ 0.06% of their portfolio NEW YORK, NY 2,000,0002.0m $2.5m $2.5m 0.06% New
29 AXA S.A. 0.01% of their portfolio PARIS, I0 1,860,0001.9m $2.3m $2.3m 0.01% Unchanged
30 Amundi 0.00% of their portfolio Paris, I0 1,390,0001.4m $1.7m $1.7m 0.00% Unchanged
31 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1,320,0001.3m $1.7m $1.7m 0.00% Reduced -11.0k -11,000
32 Warberg Asset Management LLC 0.38% of their portfolio WINNETKA, IL 1,235,0001.2m $1.6m $1.6m 0.38% Added +46.0k +46,000
33 Union Bancaire Privee, UBP SA 0.01% of their portfolio GENEVA 1, V8 850,000850.0k $910.9k $910.9k 0.01% Unchanged
34 UBS Group AG 0.00% of their portfolio ZURICH, V8 709,670709.7k $896.0k $896.0k 0.00% Added +51.0k +51,000
35 SHENKMAN CAPITAL MANAGEMENT INC 0.07% of their portfolio NEW YORK, NY 524,000524.0k $683.0k $683.0k 0.07% Reduced -7.7m -7,658,000
36 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 399,000399.0k $503.7k $503.7k 0.00% New
37 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 200,000200.0k $251.1k $251.1k 0.00% Unchanged
38 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 167,000167.0k $211.4k $211.4k 0.00% Unchanged
39 OPPENHEIMER ASSET MANAGEMENT INC. 0.00% of their portfolio NEW YORK, NY 156,000156.0k $196.9k $196.9k 0.00% Reduced -1.0k -1,000
40 SG Americas Securities, LLC 0.08% of their portfolio NEW YORK, NY 145,620145.6k $18.5m $18.5m 0.08% Unchanged
41 Calamos Wealth Management LLC 0.01% of their portfolio NAPERVILLE, IL 118,000118.0k $149.4k $149.4k 0.01% New
42 COMERICA BANK 0.00% of their portfolio DALLAS, TX 49,00049.0k $61.9k $61.9k 0.00% Unchanged
43 Private Wealth Asset Management, LLC 0.01% of their portfolio OMAHA, NE 49,00049.0k $61.9k $61.9k 0.01% Unchanged
44 STEPHENS INC /AR/ 0.00% of their portfolio LITTLE ROCK, AR 46,00046.0k $58.1k $58.1k 0.00% Unchanged
45 SSI INVESTMENT MANAGEMENT LLC 0.00% of their portfolio Los Angeles, CA 28,00028.0k $35.4k $35.4k 0.00% Unchanged
46 Balboa Wealth Partners 0.01% of their portfolio SCOTTSDALE, AZ 25,00025.0k $31.5k $31.5k 0.01% Reduced -4.0k -4,000
47 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 4,0004.0k $5.0k $5.0k 0.00% Unchanged
48 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 3,0003.0k $3.8k $3.8k 0.00% New
49 ODDO BHF ASSET MANAGEMENT SAS 0.02% of their portfolio PARIS, I0 372372 $469.7k $469.7k 0.02% Reduced -173 -173
50 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged