Vault-13

BLOCK INC XYZ 0.5 05.15.23

NOTE 0.500% 5/1 · US DOMESTIC · CUSIP 852234AD5

38 institutional holders -3 vs Q4 2022
8,992,0009.0m shares reported held*
$575.9mreported value*
11 new 12 added 6 reduced 14 sold out net bought ≈ $119.3m (+851.0k 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 ≈ $64.05.

Trends to Q1 2023

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 46Q4 22: 41Q1 23: 3838Q3 22Q4 22Q1 23
Numbers
QuarterHolders
Q3 202246
Q4 202241
Q1 202338

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 22: 12 bought or addedQ4 22: 19 cut or sold outQ4 22Q1 23: 23 bought or addedQ1 23: 20 cut or sold outQ1 23
Numbers
QuarterBought or addedCut or sold out
Q4 20221219
Q1 20232320

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$20m$40m$60m$80mQ3 22 calls: $11.9mQ3 22 puts: $74.1mQ3 22P/C 6.23Q4 22 calls: $0Q4 22 puts: $0Q4 22P/C —Q1 23 calls: $0Q1 23 puts: $0Q1 23P/C —
Numbers
QuarterCallsPutsP/C
Q3 2022$11.9m$74.1m6.23
Q4 2022$0$0—
Q1 2023$0$0—

Biggest buyers

Hudson Bay Capital Management LP Added +129,207,000+129.2m
Shaolin Capital Management LLC New +24,231,000+24.2m
BANK OF NOVA SCOTIA Added +14,874,716+14.9m
Weiss Asset Management LP Added +9,803,000+9.8m
Walleye Capital LLC New +7,500,000+7.5m
Linden Advisors LP New +7,000,000+7.0m
JANE STREET GROUP, LLC New +5,329,000+5.3m
Parallax Volatility Advisers, L.P. Added +5,000,000+5.0m
Skaana Management L.P. New +4,560,000+4.6m
WELLS FARGO & COMPANY/MN Added +4,000,000+4.0m

Biggest sellers

SCHRODER INVESTMENT MANAGEMENT GROUP Reduced -15,400,000-15.4m
Daiwa Securities Group Inc. Sold out -14,000,000-14.0m
Alberta Investment Management Corp Sold out -10,000,000-10.0m
LAZARD ASSET MANAGEMENT LLC Reduced -9,835,000-9.8m
Balyasny Asset Management L.P. Sold out -8,317,000-8.3m
CSS LLC/IL Sold out -5,600,000-5.6m
BNP PARIBAS FINANCIAL MARKETS Sold out -5,253,000-5.3m
Thrivent Financial for Lutherans Sold out -5,050,000-5.0m
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main Sold out -3,750,000-3.8m
ZAZOVE ASSOCIATES LLC Sold out -2,700,000-2.7m

Holders, Q1 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Hudson Bay Capital Management LP 1.40% of their portfolio STAMFORD, CT 231,660,000231.7m $238.1m $238.1m 1.40% Added +129.2m +129,207,000
2 D. E. Shaw & Co., Inc. 0.11% of their portfolio New York, NY 65,180,00065.2m $67.0m $67.0m 0.11% Unchanged
3 Calamos Advisors LLC 0.33% of their portfolio NAPERVILLE, IL 64,235,00064.2m $66.1m $66.1m 0.33% Added +12.0k +12,000
4 Weiss Asset Management LP 2.61% of their portfolio BOSTON, MA 32,303,00032.3m $33.2m $33.2m 2.61% Added +9.8m +9,803,000
5 CITADEL ADVISORS LLC 0.03% of their portfolio MIAMI, FL 25,199,00025.2m $25.9m $25.9m 0.03% Reduced -2.3m -2,298,000
6 Shaolin Capital Management LLC 0.75% of their portfolio Miami, FL 24,231,00024.2m $24.9m $24.9m 0.75% New
7 BANK OF NOVA SCOTIA 0.05% of their portfolio TORONTO, A6 15,000,00015.0m $15.4m $15.4m 0.05% Added +14.9m +14,874,716
8 LAZARD ASSET MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 11,790,00011.8m $12.2m $12.2m 0.02% Reduced -9.8m -9,835,000
9 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 10,071,00010.1m $10.4m $10.4m 0.00% Reduced -1.0m -1,000,000
10 Parallax Volatility Advisers, L.P. 0.36% of their portfolio San Francisco, CA 10,000,00010.0m $10.3m $10.3m 0.36% Added +5.0m +5,000,000
11 Walleye Capital LLC 0.16% of their portfolio NEW YORK, NY 7,500,0007.5m $7.7m $7.7m 0.16% New
12 Linden Advisors LP 0.08% of their portfolio New York, NY 7,000,0007.0m $7.2m $7.2m 0.08% New
13 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 5,877,0005.9m $6.1m $6.1m 0.00% Unchanged
14 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 5,329,0005.3m $5.5m $5.5m 0.01% New
15 CQS (US), LLC 0.65% of their portfolio NEW YORK, NY 5,000,0005.0m $5.2m $5.2m 0.65% Added +450.0k +450,000
16 Skaana Management L.P. 2.76% of their portfolio BROOKLYN, NY 4,560,0004.6m $4.7m $4.7m 2.76% New
17 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 4,092,0004.1m $4.2m $4.2m 0.00% Added +4.0m +4,000,000
18 Polar Capital Holdings Plc 0.03% of their portfolio London, X0 3,500,0003.5m $3.6m $3.6m 0.03% New
19 AXA S.A. 0.01% of their portfolio PARIS, I0 3,000,0003.0m $3.1m $3.1m 0.01% Unchanged
20 BlackRock Inc. 0.00% of their portfolio New York, NY 2,730,0002.7m $2.8m $2.8m 0.00% Reduced -1.3m -1,275,000
21 Man Group plc 0.01% of their portfolio LONDON, X0 2,420,0002.4m $2.5m $2.5m 0.01% Reduced -500.0k -500,000
22 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,400,0001.4m $1.4m $1.4m 0.00% New
23 SCHRODER INVESTMENT MANAGEMENT GROUP 0.00% of their portfolio London, X0 1,125,0001.1m $1.2m $1.2m 0.00% Reduced -15.4m -15,400,000
24 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 885,000885.0k $910.4k $910.4k 0.00% Added +150.0k +150,000
25 FMR LLC 0.00% of their portfolio BOSTON, MA 628,000628.0k $645.0k $645.0k 0.00% Added +314.0k +314,000
26 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 358,000358.0k $367.7k $367.7k 0.00% New
27 Calamos Wealth Management LLC 0.01% of their portfolio NAPERVILLE, IL 177,000177.0k $182.0k $182.0k 0.01% Added +15.0k +15,000
28 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 150,000150.0k $154.1k $154.1k 0.00% Unchanged
29 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 114,000114.0k $117.1k $117.1k 0.00% Added +10.0k +10,000
30 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 100,000100.0k $103.0k $103.0k 0.00% New
31 NOMURA HOLDINGS INC 0.04% of their portfolio TOKYO, M0 56,76556.8k $3.9m $3.9m 0.04% Added +54.3k +54,299
32 EDMOND DE ROTHSCHILD HOLDING S.A. 0.00% of their portfolio CHAMBESY, V8 36,00036.0k $37.0k $37.0k 0.00% Unchanged
33 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 20,00020.0k $20.5k $20.5k 0.00% Unchanged
34 PATRON PARTNERS, LLC 0.01% of their portfolio HOUSTON, TX 12,00012.0k $12.3k $12.3k 0.01% Unchanged
35 Verition Fund Management LLC 0.17% of their portfolio GREENWICH, CT 10,50010.5k $10.8m $10.8m 0.17% New
36 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 8,0008.0k $8.0k $8.0k 0.00% Unchanged
37 FIFTH THIRD BANCORP 0.00% of their portfolio CINCINNATI, OH 1,0001.0k $102.7k $102.7k 0.00% New
38 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged