Vault-13

SOUTHERN CO SO 4.5 06.15.27

NOTE 4.500% 6/1 · US DOMESTIC · CUSIP 842587DZ7

73 institutional holders -5 vs Q1 2026
41,904,60741.9m shares reported held*
$809.0mreported value*
9 new 16 added 27 reduced 16 sold out net bought ≈ $2.4m (-21.8m 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 ($2.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $19.37.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

050100Q2 25: 70Q3 25: 72Q4 25: 64Q1 26: 78Q2 26: 7373Q2 25Q3 25Q4 25Q1 26Q2 26
Numbers
QuarterHolders
Q2 202570
Q3 202572
Q4 202564
Q1 202678
Q2 202673

Buyers vs sellers

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

Bought or addedCut or sold out
50050Q3 25: 33 bought or addedQ3 25: 35 cut or sold outQ3 25Q4 25: 30 bought or addedQ4 25: 36 cut or sold outQ4 25Q1 26: 37 bought or addedQ1 26: 32 cut or sold outQ1 26Q2 26: 25 bought or addedQ2 26: 43 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 20253335
Q4 20253036
Q1 20263732
Q2 20262543

Biggest buyers

MILLENNIUM MANAGEMENT LLC New +55,000,000+55.0m
Point72 Asset Management, L.P. Added +24,300,000+24.3m
Verition Fund Management LLC Added +17,500,000+17.5m
Ovata Capital Management Ltd Added +14,500,000+14.5m
LAZARD ASSET MANAGEMENT LLC Added +11,443,000+11.4m
SSI INVESTMENT MANAGEMENT LLC New +10,306,000+10.3m
TWO SIGMA INVESTMENTS, LP Added +10,000,000+10.0m
PIER 88 INVESTMENT PARTNERS LLC Added +9,090,000+9.1m
Sculptor Capital LP New +5,000,000+5.0m
LORD, ABBETT & CO. LLC Added +3,985,000+4.0m

Biggest sellers

Balyasny Asset Management L.P. Sold out -27,108,000-27.1m
CAMDEN ASSET MANAGEMENT L P /CA Sold out -23,270,000-23.3m
CAPSTONE INVESTMENT ADVISORS, LLC Sold out -16,500,000-16.5m
JPMORGAN CHASE & CO Reduced -14,813,000-14.8m
SUSQUEHANNA ADVISORS GROUP, INC. Reduced -11,000,000-11.0m
SSI INVESTMENT MANAGEMENT LLC Sold out -10,306,000-10.3m
ZAZOVE ASSOCIATES LLC Reduced -7,350,000-7.3m
CSS LLC/IL Sold out -7,102,000-7.1m
GOLDMAN SACHS GROUP INC Sold out -7,000,000-7.0m
Hudson Bay Capital Management LP Sold out -5,000,000-5.0m

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Point72 Asset Management, L.P. 0.10% of their portfolio STAMFORD, CT 61,341,00061.3m $67.6m $67.6m 0.10% Added +24.3m +24,300,000
2 MILLENNIUM MANAGEMENT LLC 0.04% of their portfolio NEW YORK, NY 55,000,00055.0m $60.6m $60.6m 0.04% New
3 ZAZOVE ASSOCIATES LLC 4.49% of their portfolio INCLINE VILLAGE, NV 49,750,00049.8m $54.9m $54.9m 4.49% Reduced -7.3m -7,350,000
4 ADVENT CAPITAL MANAGEMENT /DE/ 1.02% of their portfolio NEW YORK, NY 40,642,00040.6m $44.9m $44.9m 1.02% Reduced -2.2m -2,183,000
5 Universal- Beteiligungs- und Servicegesellschaft mbH 0.06% of their portfolio FRANKFURT AM MAIN, 2M 36,419,00036.4m $40.3m $40.3m 0.06% Reduced -1.6m -1,585,000
6 Ovata Capital Management Ltd 2.82% of their portfolio HONG KONG, K3 34,000,00034.0m $37.5m $37.5m 2.82% Added +14.5m +14,500,000
7 Verition Fund Management LLC 0.23% of their portfolio GREENWICH, CT 30,000,00030.0m $33.1m $33.1m 0.23% Added +17.5m +17,500,000
8 PenderFund Capital Management Ltd. 4.25% of their portfolio VANCOUVER, A1 30,000,00030.0m $33.1m $33.1m 4.25% Unchanged
9 VICTORY CAPITAL MANAGEMENT INC 0.02% of their portfolio San Antonio, TX 29,154,00029.2m $32.1m $32.1m 0.02% Reduced -190.0k -190,000
10 TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio NEW YORK, NY 28,000,00028.0m $30.8m $30.8m 0.02% Added +10.0m +10,000,000
11 BlackRock, Inc. 0.00% of their portfolio New York, NY 26,713,00026.7m $29.4m $29.4m 0.00% Reduced -875.0k -875,000
12 SCHRODER INVESTMENT MANAGEMENT GROUP 0.02% of their portfolio London, X0 26,300,00026.3m $29.1m $29.1m 0.02% Reduced -100.0k -100,000
13 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 24,979,00025.0m $27.8m $27.8m 0.00% Reduced -14.8m -14,813,000
14 LORD, ABBETT & CO. LLC 0.07% of their portfolio JERSEY CITY, NJ 21,555,00021.6m $23.8m $23.8m 0.07% Added +4.0m +3,985,000
15 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 20,950,00020.9m $23.1m $23.1m 0.00% Added +3.1m +3,100,000
16 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 18,585,00018.6m $204.9k $204.9k 0.00% Added +11.4m +11,443,000
17 SUSQUEHANNA ADVISORS GROUP, INC. 0.01% of their portfolio BALA CYNWYD, PA 16,950,00016.9m $186.8k $186.8k 0.01% Reduced -11.0m -11,000,000
18 Brevan Howard Capital Management LP 0.23% of their portfolio ST. HELIER, Y9 15,000,00015.0m $16.6m $16.6m 0.23% Reduced -5.0m -5,000,000
19 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 14,763,00014.8m $16.3m $16.3m 0.00% Reduced -285.0k -285,000
20 PIER 88 INVESTMENT PARTNERS LLC 3.12% of their portfolio SAN FRANCISCO, CA 11,910,00011.9m $13.1m $13.1m 3.12% Added +9.1m +9,090,000
21 SSI INVESTMENT MANAGEMENT LLC 0.66% of their portfolio Los Angeles, CA 10,306,00010.3m $11.4m $11.4m 0.66% New
22 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 10,213,00010.2m $11.2m $11.2m 0.00% Reduced -2.4m -2,415,000
23 Calamos Advisors LLC 0.04% of their portfolio NAPERVILLE, IL 10,002,00010.0m $11.0m $11.0m 0.04% Reduced -559.0k -559,000
24 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio FRANKFURT AM MAIN, 2M 9,750,0009.8m $10.8m $10.8m 0.01% Reduced -500.0k -500,000
25 Weiss Asset Management LP 0.12% of their portfolio BOSTON, MA 9,388,0009.4m $10.4m $10.4m 0.12% Not comparable
26 FMR LLC 0.00% of their portfolio BOSTON, MA 9,001,0009.0m $9.9m $9.9m 0.00% Reduced -100.0k -100,000
27 VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio ATLANTA, GA 8,000,0008.0m $8.8m $8.8m 0.01% Unchanged
28 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 7,735,0007.7m $8.5m $8.5m 0.00% Unchanged
29 RWC Asset Management LLP 0.30% of their portfolio LONDON, X0 7,225,0007.2m $8.0m $8.0m 0.30% Added +125.0k +125,000
30 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 7,000,0007.0m $7.7m $7.7m 0.00% Reduced -3.0m -3,000,000
31 Thrivent Financial for Lutherans 0.01% of their portfolio Minneapolis, MN 6,255,0006.3m $6.9m $6.9m 0.01% Unchanged
32 CONNING INC. 0.19% of their portfolio HARTFORD, CT 5,610,0005.6m $6.2m $6.2m 0.19% Unchanged
33 MacKay Shields LLC 0.21% of their portfolio New York, NY 5,569,0005.6m $6.1m $6.1m 0.21% Reduced -71.0k -71,000
34 Sculptor Capital LP 0.06% of their portfolio New York, NY 5,000,0005.0m $5.5m $5.5m 0.06% New
35 Walleye Capital LLC 0.03% of their portfolio NEW YORK, NY 5,000,0005.0m $5.5m $5.5m 0.03% Unchanged
36 EFG International AG 0.09% of their portfolio Zurich, V8 4,700,0004.7m $5.2m $5.2m 0.09% Reduced -2.0m -2,000,000
37 Wellesley Asset Management 0.40% of their portfolio PORTSMOUTH, NH 4,500,0004.5m $4.4m $4.4m 0.40% Unchanged
38 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 4,000,0004.0m $4.4m $4.4m 0.01% Added +1.0m +1,000,000
39 TORONTO DOMINION BANK 0.01% of their portfolio TORONTO, ONTARIO, A6 4,000,0004.0m $4.4m $4.4m 0.01% Added +3.9m +3,920,000
40 Man Group plc 0.01% of their portfolio LONDON, X0 3,882,0003.9m $4.3m $4.3m 0.01% Added +1.1m +1,061,000
41 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 2,855,0002.9m $3.1m $3.1m 0.00% Reduced -1.0m -1,000,000
42 RATIONAL ADVISORS, INC. 0.28% of their portfolio San Juan, PR 2,820,0002.8m $3.1m $3.1m 0.28% Unchanged
43 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 2,748,0002.7m $3.0m $3.0m 0.00% Unchanged
44 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 2,439,0002.4m $2.7m $2.7m 0.00% Reduced -291.0k -291,000
45 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 2,295,0002.3m $2.5m $2.5m 0.00% Reduced -3.7m -3,713,000
46 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 1,475,0001.5m $1.6m $1.6m 0.00% Reduced -840.0k -840,000
47 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 1,368,0001.4m $1.5m $1.5m 0.00% Reduced -560.0k -560,000
48 AEGON USA Investment Management, LLC 0.59% of their portfolio CEDAR RAPIDS, IA 750,000750.0k $826.1k $826.1k 0.59% Unchanged
49 Calamos Wealth Management LLC 0.02% of their portfolio NAPERVILLE, IL 669,000669.0k $738.7k $738.7k 0.02% Added +24.0k +24,000
50 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 502,000502.0k $553.0k $553.0k 0.00% Added +188.0k +188,000
51 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 500,000500.0k $553.0k $553.0k 0.00% Unchanged
52 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 465,000465.0k $512.2k $512.2k 0.00% Unchanged
53 Axxion S.A. 0.04% of their portfolio GREVENMACHER, N4 400,000400.0k $502.4k $502.4k 0.04% First filing
54 UBS Group AG 0.00% of their portfolio ZURICH, V8 282,000282.0k $310.6k $310.6k 0.00% Reduced -2.9m -2,932,000
55 Amundi 0.00% of their portfolio Paris, I0 250,000250.0k $275.4k $275.4k 0.00% Unchanged
56 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 196,000196.0k $215.9k $215.9k 0.00% Reduced -2.0k -2,000
57 OPPENHEIMER ASSET MANAGEMENT INC. 0.00% of their portfolio NEW YORK, NY 174,000174.0k $191.7k $191.7k 0.00% Reduced -4.0k -4,000
58 AQR Arbitrage LLC 0.00% of their portfolio Greenwich, CT 160,000160.0k $176.4k $176.4k 0.00% New
59 MIZUHO SECURITIES USA LLC 0.08% of their portfolio NEW YORK, NY 88,25588.3k $8.4m $8.4m 0.08% New
60 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 70,00070.0k $7.8m $7.8m 0.00% Added +40.0k +40,000
61 STEPHENS INC /AR/ 0.00% of their portfolio LITTLE ROCK, AR 54,00054.0k $59.5k $59.5k 0.00% Unchanged
62 BLAIR WILLIAM & CO/IL 0.00% of their portfolio CHICAGO, IL 32,00032.0k $35.2k $35.2k 0.00% Unchanged
63 Focus Partners Wealth 0.00% of their portfolio ST LOUIS, MO 28,00028.0k $30.9k $30.9k 0.00% New
64 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 26,00026.0k $28.6k $28.6k 0.00% Reduced -4.0k -4,000
65 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 20,00020.0k $22.0k $22.0k 0.00% New
66 Balboa Wealth Partners 0.00% of their portfolio SCOTTSDALE, AZ 15,00015.0k $16.5k $16.5k 0.00% Reduced -18.0k -18,000
67 Inspire Advisors, LLC 0.00% of their portfolio Meridian, ID 11,00011.0k $12.1k $12.1k 0.00% Unchanged
68 LANARK FINANCIAL, INC. 0.00% of their portfolio BIRMINGHAM, AL 10,00010.0k $11.0k $11.0k 0.00% New
69 Goldstein Advisors, LLC 0.00% of their portfolio Madison, WI 10,00010.0k $11.0k $11.0k 0.00% Unchanged
70 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 5,0005.0k $5.5k $5.5k 0.00% Unchanged
71 BOUSSARD & GAVAUDAN GESTION SAS 0.19% of their portfolio PARIS, I0 3,3003.3k $3.7m $3.7m 0.19% First filing
72 LAFFER TENGLER INVESTMENTS, INC. 0.44% of their portfolio Scottsdale, AZ 3,0883.1k $3.4m $3.4m 0.44% New
73 NOMURA HOLDINGS INC 0.00% of their portfolio TOKYO, M0 2,9643.0k $283.7k $283.7k 0.00% Added +281 +281