Vault-13

SNAP INC SNAP 0.25 05.01.25

NOTE 0.250% 5/0 · US DOMESTIC · CUSIP 83304AAD8

27 institutional holders +0 vs Q1 2023
5,997,0006.0m shares reported held*
$247.2mreported value*
4 new 5 added 7 reduced 3 sold out net bought ≈ $2.4m (+1.4m 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 ($5.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $42.08.

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0102030Q3 22: 29Q4 22: 29Q1 23: 27Q2 23: 2727Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202229
Q4 202229
Q1 202327
Q2 202327

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q4 22: 11 bought or addedQ4 22: 13 cut or sold outQ4 22Q1 23: 10 bought or addedQ1 23: 13 cut or sold outQ1 23Q2 23: 9 bought or addedQ2 23: 10 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 20221113
Q1 20231013
Q2 2023910

Biggest buyers

Linden Advisors LP New +10,000,000+10.0m
CITADEL ADVISORS LLC Added +5,000,000+5.0m
III Capital Management Added +4,765,000+4.8m
SUSQUEHANNA INTERNATIONAL GROUP, LLP New +4,750,000+4.8m
STATE STREET CORP Added +2,600,000+2.6m
D. E. Shaw & Co., Inc. New +2,500,000+2.5m
STEELHEAD PARTNERS LLC Added +2,316,000+2.3m
MIZUHO SECURITIES USA LLC Added +1,497,000+1.5m
BOOTHBAY FUND MANAGEMENT, LLC New +803,000+803.0k

Biggest sellers

Balyasny Asset Management L.P. Sold out -19,000,000-19.0m
FMR LLC Reduced -5,375,000-5.4m
Castle Creek Arbitrage, LLC Reduced -5,000,000-5.0m
ADVENT CAPITAL MANAGEMENT /DE/ Reduced -2,037,000-2.0m
NOMURA HOLDINGS INC Reduced -207,455-207.5k
JANE STREET GROUP, LLC Sold out -67,000-67.0k
BlackRock Inc. Reduced -38,000-38.0k
BNP PARIBAS FINANCIAL MARKETS Reduced -32,000-32.0k
Penn Mutual Asset Management Sold out -26,000-26.0k
Verition Fund Management LLC Reduced -5,000-5.0k

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Aequim Alternative Investments LP 3.10% of their portfolio MILL VALLEY, CA 85,000,00085.0m $82.4m $82.4m 3.10% Unchanged
2 STEELHEAD PARTNERS LLC 2.75% of their portfolio SEATTLE, WA 45,000,00045.0m $43.4m $43.4m 2.75% Added +2.3m +2,316,000
3 III Capital Management 1.79% of their portfolio BOCA RATON, FL 23,794,00023.8m $22.9m $22.9m 1.79% Added +4.8m +4,765,000
4 DeepCurrents Investment Group LLC 0.78% of their portfolio NEW YORK, NY 18,542,00018.5m $18.0m $18.0m 0.78% Unchanged
5 Castle Creek Arbitrage, LLC 1.93% of their portfolio AVON, CO 16,047,00016.0m $15.5m $15.5m 1.93% Reduced -5.0m -5,000,000
6 Calamos Advisors LLC 0.05% of their portfolio NAPERVILLE, IL 10,005,00010.0m $9.6m $9.6m 0.05% Unchanged
7 Linden Advisors LP 0.10% of their portfolio New York, NY 10,000,00010.0m $9.7m $9.7m 0.10% New
8 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 8,000,0008.0m $7.7m $7.7m 0.01% Added +5.0m +5,000,000
9 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 7,038,0007.0m $6.8m $6.8m 0.00% Added +2.6m +2,600,000
10 MIZUHO SECURITIES USA LLC 0.19% of their portfolio NEW YORK, NY 5,997,0006.0m $5.8m $5.8m 0.19% Added +1.5m +1,497,000
11 FMR LLC 0.00% of their portfolio BOSTON, MA 5,375,0005.4m $5.2m $5.2m 0.00% Reduced -5.4m -5,375,000
12 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 4,750,0004.8m $4.6m $4.6m 0.01% New
13 AXA S.A. 0.02% of their portfolio PARIS, I0 4,700,0004.7m $4.5m $4.5m 0.02% Unchanged
14 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 2,500,0002.5m $2.4m $2.4m 0.00% New
15 ADVENT CAPITAL MANAGEMENT /DE/ 0.04% of their portfolio NEW YORK, NY 2,100,0002.1m $2.0m $2.0m 0.04% Reduced -2.0m -2,037,000
16 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 1,750,0001.8m $1.7m $1.7m 0.00% Unchanged
17 BlackRock Inc. 0.00% of their portfolio New York, NY 1,610,0001.6m $1.6m $1.6m 0.00% Reduced -38.0k -38,000
18 PALISADE CAPITAL MANAGEMENT, LP 0.04% of their portfolio FORT LEE, NJ 1,500,0001.5m $1.5m $1.5m 0.04% Unchanged
19 BOOTHBAY FUND MANAGEMENT, LLC 0.02% of their portfolio NEW YORK, NY 803,000803.0k $773.8k $773.8k 0.02% New
20 Amundi 0.00% of their portfolio Paris, I0 750,000750.0k $725.8k $725.8k 0.00% Unchanged
21 NOMURA HOLDINGS INC 0.00% of their portfolio TOKYO, M0 616,497616.5k $74.1k $74.1k 0.00% Reduced -207.5k -207,455
22 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 233,000233.0k $224.5k $224.5k 0.00% Reduced -32.0k -32,000
23 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 35,00035.0k $33.8k $33.8k 0.00% Unchanged
24 Verition Fund Management LLC 0.08% of their portfolio GREENWICH, CT 5,2935.3k $5.1m $5.1m 0.08% Reduced -5.0k -5,000
25 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 5,0005.0k $4.8k $4.8k 0.00% Unchanged
26 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 1,1901.2k $115.0k $115.0k 0.00% Unchanged
27 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged