Vault-13

SHIFT4 PMTS INC FOUR 0.5 08.01.27

NOTE 0.500% 8/0 · US DOMESTIC · CUSIP 82452JAD1

62 institutional holders +4 vs Q3 2025
9,442,0009.4m shares reported held*
$833.2mreported value*
11 new 15 added 19 reduced 8 sold out net sold ≈ $36.6m (-7.7m 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. Holder counts are more reliable. Implied quarter-end price ≈ $88.24.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0255075Q3 22: 41Q4 22: 43Q1 23: 41Q2 23: 44Q3 23: 42Q4 23: 47Q1 24: 52Q2 24: 48Q3 24: 42Q4 24: 57Q1 25: 50Q2 25: 52Q3 25: 58Q4 25: 6262Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 202241
Q4 202243
Q1 202341
Q2 202344
Q3 202342
Q4 202347
Q1 202452
Q2 202448
Q3 202442
Q4 202457
Q1 202550
Q2 202552
Q3 202558
Q4 202562

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q1 24: 26 bought or addedQ1 24: 21 cut or sold outQ2 24: 18 bought or addedQ2 24: 25 cut or sold outQ2 24Q3 24: 15 bought or addedQ3 24: 25 cut or sold outQ4 24: 34 bought or addedQ4 24: 14 cut or sold outQ4 24Q1 25: 28 bought or addedQ1 25: 29 cut or sold outQ2 25: 24 bought or addedQ2 25: 22 cut or sold outQ2 25Q3 25: 35 bought or addedQ3 25: 21 cut or sold outQ4 25: 26 bought or addedQ4 25: 27 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20242621
Q2 20241825
Q3 20241525
Q4 20243414
Q1 20252829
Q2 20252422
Q3 20253521
Q4 20252627

Biggest buyers

WOLVERINE ASSET MANAGEMENT LLC New +55,631,000+55.6m
Wellesley Asset Management Added +13,475,000+13.5m
TORONTO DOMINION BANK New +9,999,000+10.0m
Calamos Advisors LLC Added +7,394,000+7.4m
TENOR CAPITAL MANAGEMENT Co., L.P. New +5,000,000+5.0m
CITIGROUP INC New +4,799,000+4.8m
LAZARD ASSET MANAGEMENT LLC Added +4,038,000+4.0m
Fore Capital, LLC Added +4,000,000+4.0m
PALISADE CAPITAL MANAGEMENT, LP Added +3,316,000+3.3m
Amundi Added +2,529,000+2.5m

Biggest sellers

VOYA INVESTMENT MANAGEMENT LLC Reduced -39,045,000-39.0m
ADVENT CAPITAL MANAGEMENT /DE/ Reduced -34,216,000-34.2m
OAKTREE CAPITAL MANAGEMENT LP Sold out -14,544,000-14.5m
ZAZOVE ASSOCIATES LLC Reduced -12,670,000-12.7m
SHENKMAN CAPITAL MANAGEMENT INC Sold out -10,444,000-10.4m
JPMORGAN CHASE & CO Reduced -9,495,000-9.5m
GOLDMAN SACHS GROUP INC Reduced -7,000,000-7.0m
NEW YORK STATE COMMON RETIREMENT FUND Reduced -6,303,000-6.3m
FRANKLIN RESOURCES INC Reduced -5,237,000-5.2m
RWC Asset Management LLP Reduced -4,263,000-4.3m

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VOYA INVESTMENT MANAGEMENT LLC 0.10% of their portfolio ATLANTA, GA 109,045,000109.0m $105.1m $105.1m 0.10% Reduced -39.0m -39,045,000
2 Calamos Advisors LLC 0.26% of their portfolio NAPERVILLE, IL 66,087,00066.1m $63.8m $63.8m 0.26% Added +7.4m +7,394,000
3 WOLVERINE ASSET MANAGEMENT LLC 0.76% of their portfolio CHICAGO, IL 55,631,00055.6m $53.6m $53.6m 0.76% New
4 MacKay Shields LLC 1.33% of their portfolio New York, NY 39,492,00039.5m $38.1m $38.1m 1.33% Reduced -405.0k -405,000
5 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 34,777,00034.8m $33.5m $33.5m 0.01% Reduced -5.2m -5,237,000
6 Wellesley Asset Management 3.14% of their portfolio PORTSMOUTH, NH 31,430,00031.4m $30.1m $30.1m 3.14% Added +13.5m +13,475,000
7 ADVENT CAPITAL MANAGEMENT /DE/ 0.58% of their portfolio NEW YORK, NY 25,944,00025.9m $25.1m $25.1m 0.58% Reduced -34.2m -34,216,000
8 BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio PARIS, I0 25,178,00025.2m $24.2m $24.2m 0.02% Added +2.2m +2,226,000
9 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 23,755,00023.8m $228.9k $228.9k 0.00% Added +4.0m +4,038,000
10 PIER 88 INVESTMENT PARTNERS LLC 3.81% of their portfolio SAN FRANCISCO, CA 17,736,00017.7m $17.0m $17.0m 3.81% Reduced -1.5m -1,460,000
11 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 15,135,00015.1m $14.5m $14.5m 0.00% Added +610.0k +610,000
12 Thrivent Financial for Lutherans 0.03% of their portfolio Minneapolis, MN 15,078,00015.1m $14.5m $14.5m 0.03% Added +130.0k +130,000
13 M&G PLC 0.07% of their portfolio London, X0 14,799,00014.8m $14.2m $14.2m 0.07% Unchanged
14 LORD, ABBETT & CO. LLC 0.04% of their portfolio JERSEY CITY, NJ 13,810,00013.8m $13.3m $13.3m 0.04% Reduced -984.0k -984,000
15 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 13,085,00013.1m $12.6m $12.6m 0.00% Unchanged
16 Converium Capital Inc. 8.47% of their portfolio MONTREAL, A8 10,000,00010.0m $9.6m $9.6m 8.47% First filing
17 TORONTO DOMINION BANK 0.02% of their portfolio TORONTO, ONTARIO, A6 9,999,00010.0m $9.6m $9.6m 0.02% New
18 BlackRock, Inc. 0.00% of their portfolio New York, NY 7,925,0007.9m $7.6m $7.6m 0.00% Added +1.7m +1,700,000
19 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio FRANKFURT AM MAIN, 2M 7,770,0007.8m $7.5m $7.5m 0.01% Unchanged
20 FMR LLC 0.00% of their portfolio BOSTON, MA 7,353,0007.4m $7.1m $7.1m 0.00% Unchanged
21 PALISADE CAPITAL MANAGEMENT, LP 0.20% of their portfolio FORT LEE, NJ 7,066,0007.1m $6.8m $6.8m 0.20% Added +3.3m +3,316,000
22 Nicholas Investment Partners, LP 0.36% of their portfolio RANCHO SANTA FE, CA 5,150,0005.2m $4.9m $4.9m 0.36% Reduced -300.0k -300,000
23 TENOR CAPITAL MANAGEMENT Co., L.P. 0.07% of their portfolio NEW YORK, NY 5,000,0005.0m $4.8m $4.8m 0.07% New
24 Fore Capital, LLC 6.37% of their portfolio New York, NY 5,000,0005.0m $4.8m $4.8m 6.37% Added +4.0m +4,000,000
25 Walleye Capital LLC 0.03% of their portfolio NEW YORK, NY 5,000,0005.0m $4.8m $4.8m 0.03% Reduced -2.5m -2,500,000
26 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 4,983,0005.0m $4.8m $4.8m 0.00% Reduced -9.5m -9,495,000
27 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 4,799,0004.8m $4.6m $4.6m 0.00% New
28 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 4,507,0004.5m $4.3m $4.3m 0.00% Reduced -391.0k -391,000
29 RATIONAL ADVISORS, INC. 0.42% of their portfolio San Juan, PR 4,286,0004.3m $4.1m $4.1m 0.42% Reduced -1.5m -1,460,000
30 Man Group plc 0.01% of their portfolio LONDON, X0 3,217,0003.2m $3.1m $3.1m 0.01% Added +1.8m +1,800,000
31 RWC Asset Management LLP 0.15% of their portfolio LONDON, X0 3,075,0003.1m $3.0m $3.0m 0.15% Reduced -4.3m -4,263,000
32 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 3,000,0003.0m $2.9m $2.9m 0.01% Unchanged
33 WESTWOOD HOLDINGS GROUP INC 0.02% of their portfolio DALLAS, TX 2,800,0002.8m $2.8m $2.8m 0.02% Unchanged
34 Amundi 0.07% of their portfolio Paris, I0 2,703,0002.7m $259.8m $259.8m 0.07% Added +2.5m +2,529,000
35 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 1,842,0001.8m $1.8m $1.8m 0.00% Reduced -7.0m -7,000,000
36 UBS Group AG 0.00% of their portfolio ZURICH, V8 1,821,0001.8m $1.7m $1.7m 0.00% New
37 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 1,500,0001.5m $1.4m $1.4m 0.00% Reduced -6.3m -6,303,000
38 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 1,431,0001.4m $1.4m $1.4m 0.00% Reduced -1.0m -1,000,000
39 Jefferies Financial Group Inc. 0.01% of their portfolio NEW YORK, NY 1,430,0001.4m $1.4m $1.4m 0.01% Added +389.0k +389,000
40 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1,275,0001.3m $1.2m $1.2m 0.00% New
41 SSI INVESTMENT MANAGEMENT LLC 0.07% of their portfolio Los Angeles, CA 1,060,0001.1m $1.0m $1.0m 0.07% Reduced -212.0k -212,000
42 Benefit Street Partners LLC 1.06% of their portfolio NEW YORK, NY 1,000,0001.0m $961.5k $961.5k 1.06% First filing
43 GROUPAMA ASSET MANAGMENT 0.01% of their portfolio PARIS, I0 650,000650.0k $631.0k $631.0k 0.01% New
44 DNCA FINANCE 0.04% of their portfolio PARIS, I0 640,000640.0k $618.2k $618.2k 0.04% Unchanged
45 ZAZOVE ASSOCIATES LLC 0.05% of their portfolio INCLINE VILLAGE, NV 600,000600.0k $579.3k $579.3k 0.05% Reduced -12.7m -12,670,000
46 Universal- Beteiligungs- und Servicegesellschaft mbH 0.00% of their portfolio FRANKFURT AM MAIN, 2M 500,000500.0k $483.8k $483.8k 0.00% Unchanged
47 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 330,000330.0k $317.1k $317.1k 0.00% Unchanged
48 Kohlberg Kravis Roberts & Co. L.P. 0.00% of their portfolio NEW YORK, NY 265,000265.0k $255.3k $255.3k 0.00% Unchanged
49 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 207,000207.0k $199.5k $199.5k 0.00% Added +7.0k +7,000
50 Calamos Wealth Management LLC 0.00% of their portfolio NAPERVILLE, IL 101,000101.0k $97.5k $97.5k 0.00% Reduced -36.0k -36,000
51 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 42,00042.0k $40.4k $40.4k 0.00% New
52 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 30,00030.0k $28.8k $28.8k 0.00% Added +17.0k +17,000
53 AQR Arbitrage LLC 0.00% of their portfolio Greenwich, CT 25,00025.0k $24.1k $24.1k 0.00% Unchanged
54 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 24,00024.0k $23.1k $23.1k 0.00% Unchanged
55 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 23,00023.0k $22.1k $22.1k 0.00% New
56 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 20,40020.4k $2.0m $2.0m 0.00% Unchanged
57 FORESIGHT CAPITAL MANAGEMENT ADVISORS, INC. 0.01% of their portfolio SALINE, MI 14,00014.0k $13.4k $13.4k 0.01% New
58 INSIGNEO ADVISORY SERVICES, LLC 0.00% of their portfolio MIAMI, FL 14,00014.0k $13.5k $13.5k 0.00% Reduced -17.0k -17,000
59 CHOREO, LLC 0.00% of their portfolio ROCKFORD, IL 13,00013.0k $12.6k $12.6k 0.00% Added +2.0k +2,000
60 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 12,00012.0k $11.5k $11.5k 0.00% New
61 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 3,0003.0k $2.9k $2.9k 0.00% Unchanged
62 Erste Asset Management GmbH 0.00% of their portfolio VIENNA, C4 00 $0 $0 0.00% Unchanged