Vault-13

SOUTHERN CO SO 7.125 12.15.28 A

UNIT 12/15/2028 · PUBLIC · CUSIP 842587842

53 institutional holders +12 vs Q1 2026
42,046,61642.0m shares reported held*
$2.0bnreported value*
14 new 19 added 9 reduced 3 sold out net sold ≈ $29.1m (+1.1m 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 ($5.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $46.17.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0204060Q4 25: 43Q1 26: 41Q2 26: 5353Q4 25Q1 26Q2 26
Numbers
QuarterHolders
Q4 202543
Q1 202641
Q2 202653

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q1 26: 24 bought or addedQ1 26: 21 cut or sold outQ1 26Q2 26: 33 bought or addedQ2 26: 12 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q1 20262421
Q2 20263312

Biggest buyers

Russell Investments Group, Ltd. Added +1,681,000+1.7m
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. New +724,500+724.5k
TWO SIGMA INVESTMENTS, LP New +667,275+667.3k
CAMDEN ASSET MANAGEMENT L P /CA Added +605,000+605.0k
FRANKLIN RESOURCES INC Added +267,539+267.5k
Nuveen, LLC Added +262,499+262.5k
WOLVERINE ASSET MANAGEMENT LLC New +187,052+187.1k
Sculptor Capital LP New +145,678+145.7k
AMERIPRISE FINANCIAL INC Added +125,055+125.1k
MANUFACTURERS LIFE INSURANCE COMPANY, THE Added +114,300+114.3k

Biggest sellers

Capital World Investors Reduced -3,505,285-3.5m
BlackRock, Inc. Reduced -289,064-289.1k
VOYA INVESTMENT MANAGEMENT LLC Reduced -116,605-116.6k
Portman Square Capital LLP Reduced -100,000-100.0k
JPMORGAN CHASE & CO Sold out -97,497-97.5k
Capital International, Inc./CA/ Reduced -96,236-96.2k
VAN ECK ASSOCIATES CORP Reduced -77,343-77.3k
CITIGROUP INC Reduced -30,000-30.0k
UBS Group AG Reduced -5,479-5.5k
SEI INVESTMENTS CO Sold out -4,689-4.7k

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Capital World Investors 0.05% of their portfolio LOS ANGELES, CA 8,137,2878.1m $404.7m $404.7m 0.05% Reduced -3.5m -3,505,285
2 FRANKLIN RESOURCES INC 0.08% of their portfolio San Mateo, CA 7,016,3587.0m $349.0m $349.0m 0.08% Added +267.5k +267,539
3 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 5,521,0005.5m $5.5m $5.5m 0.00% Added +1.7m +1,681,000
4 VOYA INVESTMENT MANAGEMENT LLC 0.20% of their portfolio ATLANTA, GA 4,733,3954.7m $235.4m $235.4m 0.20% Reduced -116.6k -116,605
5 BlackRock, Inc. 0.00% of their portfolio New York, NY 2,461,9032.5m $122.5m $122.5m 0.00% Reduced -289.1k -289,064
6 Calamos Advisors LLC 0.38% of their portfolio NAPERVILLE, IL 2,115,6252.1m $105.2m $105.2m 0.38% Added +34.3k +34,300
7 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.08% of their portfolio Toronto, A6 2,067,3072.1m $103.4m $103.4m 0.08% Added +114.3k +114,300
8 PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio BALTIMORE, MD 1,961,4702.0m $97.6m $97.6m 0.01% Added +854 +854
9 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 1,294,8911.3m $64.4m $64.4m 0.01% Added +125.1k +125,055
10 Portman Square Capital LLP 10.54% of their portfolio London, X0 1,236,0001.2m $61.8m $61.8m 10.54% Reduced -100.0k -100,000
11 ADVENT CAPITAL MANAGEMENT /DE/ 1.39% of their portfolio NEW YORK, NY 1,215,4771.2m $60.8m $60.8m 1.39% Added +94.1k +94,102
12 CAMDEN ASSET MANAGEMENT L P /CA 1.68% of their portfolio Los Angeles, CA 1,152,9001.2m $57.5m $57.5m 1.68% Added +605.0k +605,000
13 VAN ECK ASSOCIATES CORP 0.03% of their portfolio NEW YORK, NY 1,000,6701.0m $49.8m $49.8m 0.03% Reduced -77.3k -77,343
14 Nuveen, LLC 0.01% of their portfolio CHARLOTTE, NC 909,382909.4k $45.2m $45.2m 0.01% Added +262.5k +262,499
15 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.04% of their portfolio CAUSEWAY BAY, K3 724,500724.5k $36.0m $36.0m 0.04% New
16 TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio NEW YORK, NY 667,275667.3k $33.2m $33.2m 0.02% New
17 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 606,804606.8k $30.4m $30.4m 0.00% Added +80.8k +80,804
18 VICTORY CAPITAL MANAGEMENT INC 0.01% of their portfolio San Antonio, TX 503,000503.0k $25.0m $25.0m 0.01% Added +3.0k +3,000
19 FMR LLC 0.00% of their portfolio BOSTON, MA 430,259430.3k $21.5m $21.5m 0.00% Reduced -4.6k -4,600
20 Thrivent Financial for Lutherans 0.03% of their portfolio Minneapolis, MN 301,340301.3k $15.0m $15.0m 0.03% Added +8.3k +8,280
21 WOLVERINE ASSET MANAGEMENT LLC 0.12% of their portfolio CHICAGO, IL 187,052187.1k $9.3m $9.3m 0.12% New
22 SSI INVESTMENT MANAGEMENT LLC 0.53% of their portfolio Los Angeles, CA 182,480182.5k $9.1m $9.1m 0.53% Added +11.8k +11,770
23 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 156,897156.9k $1.6k $1.6k 0.00% Unchanged
24 Sculptor Capital LP 0.08% of their portfolio New York, NY 145,678145.7k $7.3m $7.3m 0.08% New
25 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 143,310143.3k $7.1m $7.1m 0.00% Added +108.3k +108,340
26 Capital International, Inc./CA/ 0.04% of their portfolio Los Angeles, CA 107,867107.9k $5.4m $5.4m 0.04% Reduced -96.2k -96,236
27 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 100,000100.0k $5.0m $5.0m 0.00% New
28 GABELLI FUNDS LLC 0.03% of their portfolio Rye, NY 79,30079.3k $3.9m $3.9m 0.03% Unchanged
29 BlueCrest Capital Management Ltd 0.14% of their portfolio ST HELIER, Y9 66,40766.4k $3.3m $3.3m 0.14% New
30 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 65,94565.9k $3.3m $3.3m 0.00% Added +14.1k +14,089
31 FEDERATED HERMES, INC. 0.00% of their portfolio PITTSBURGH, PA 60,00060.0k $3.0m $3.0m 0.00% Unchanged
32 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 58,05058.0k $2.9m $2.9m 0.00% Reduced -30.0k -30,000
33 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 53,39253.4k $2.7m $2.7m 0.00% Added +3.4k +3,392
34 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 50,00050.0k $2.5m $2.5m 0.00% Unchanged
35 Elequin Capital, LP 0.06% of their portfolio NEW YORK, NY 37,57137.6k $1.9m $1.9m 0.06% New
36 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 21,91021.9k $1.1m $1.1m 0.00% New
37 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 19,18919.2k $954.5k $954.5k 0.00% Added +16 +16
38 UBS Group AG 0.00% of their portfolio ZURICH, V8 14,72914.7k $732.6k $732.6k 0.00% Reduced -5.5k -5,479
39 AEGON USA Investment Management, LLC 0.52% of their portfolio CEDAR RAPIDS, IA 14,53014.5k $727.5k $727.5k 0.52% Unchanged
40 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 11,04011.0k $550.0k $550.0k 0.00% Added +6.1k +6,140
41 RED CEDAR INVESTMENT MANAGEMENT, LLC 0.05% of their portfolio GRAND RAPIDS, MI 10,83710.8k $540.7k $540.7k 0.05% New
42 GAMCO INVESTORS, INC. ET AL 0.00% of their portfolio GREENWICH, CT 8,0008.0k $397.9k $397.9k 0.00% Unchanged
43 Central Pacific Bank - Trust Division 0.04% of their portfolio HONOLULU, HI 7,1607.2k $356.1k $356.1k 0.04% Unchanged
44 Financiere des Professionnels - Fonds d'investissement inc. 0.02% of their portfolio MONTREAL, A8 6,0506.0k $300.9k $300.9k 0.02% Unchanged
45 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 4,8834.9k $242.9k $242.9k 0.00% Added +1.9k +1,883
46 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 4,6304.6k $231.3k $231.3k 0.00% New
47 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 4,0484.0k $201.3k $201.3k 0.00% New
48 WHITTIER TRUST CO 0.00% of their portfolio SOUTH PASADENA, CA 3,8003.8k $190.0k $190.0k 0.00% Unchanged
49 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 629629 $31.0k $31.0k 0.00% New
50 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 7575 $3.7k $3.7k 0.00% New
51 Global Retirement Partners, LLC 0.00% of their portfolio San Rafael, CA 5353 $2.6k $2.6k 0.00% First filing
52 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 4141 $2.0k $2.0k 0.00% Unchanged
53 Integrated Wealth Concepts LLC 0.00% of their portfolio WALTHAM, MA 3333 $1.6k $1.6k 0.00% New